International Karachi, Saturday, December 4, 2010, Zil Hajj 27, Price Rs12 Pages 12
Iran sees N-physicist’s blood on British hands Economic Indicators Forex Reserves (27-Nov-10) Inflation CPI% (Jul 10-Oct 10) Exports (Jul 10-Oct 10) Imports (Jul 10-Oct 10) Trade Balance (Jul 10-Oct 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10-Oct 10) Foreign Invest (Jul 10-Oct 10) Revenue (Jul 10-Oct 10) Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Sep 10)
GDP Growth FY10E Per Capita Income FY10 Population
$16.74bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $569mn Rs 411bn $58.41bn Rs 4863bn $203.80mn -2.58% 4.10% $1,051 171.21mn
19.00 2.00 1.70 10.64
162.85 42.86 36.43 36.48
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
01-Dec-2010 01-Dec-2010 01-Dec-2010 29-Nov-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010 03-Dec-2010
13.16% 13.39% 13.67% 14.00% 13.17% 13.34% 13.57% 13.93% 14.08% 13.75% 13.80% 14.10% 14.38% 14.51% 14.73%
Commodities *Crude Oil (brent)$/bbl 90.62 *Crude Oil (WTI)$/bbl 87.91 *Cotton $/lb 132.34 *Gold $/ozs 1,407.20 *Silver $/ozs 29.22 Malaysian Palm $ 1,141 GOLD (NCEL) PKR 38,360 KHI Cotton 40Kg PKR 9,860 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 82.50 Canadian $ 83.95 Danish Krone 14.50 Euro 112.00 Hong Kong $ 11.00 Japanese Yen 1.012 Saudi Riyal 22.70 Singapore $ 64.70 Swedish Korona 12.55 Swiss Franc 86.85 U.A.E Dirham 23.05 UK Pound 131.00 US $ 85.60
82.60 84.05 15.00 113.00 11.10 1.037 22.80 64.80 12.65 86.95 23.15 132.00 85.80
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
83.62 85.42 15.20 113.23 11.04 1.024 22.86 65.49 12.41 86.23 23.35 133.74 85.71
83.82 85.62 15.23 113.50 11.06 1.027 22.92 65.64 12.44 86.43 23.40 134.06 85.90
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
22°C 30°C 23°C 24°C 18°C 23°C
MIN
3°C 11°C 8°C 5°C -8°C 4°C
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See on Page 12
Pakistan protests India’s LoC firing
See on Page 12
Cable-leaks, called a cabal sovereignty, independence and territorial integrity, the Prime Minister said, is a sacred duty. Pakistan is a peace-loving country, he added, and has consistently endeavoured to promote regional peace and stability. The Prime Minister said that despite our best efforts, our quest for a just and durable peace in South Asia has so far proved elusive. Indian Occupied Kashmir is again on the boil with indigenous resistance of Kashmiri people to Indian occupation. Pakistan, he stated, will continue to extend full moral, diplomatic and political support to the Kashmiri brothers and sisters. He referred to his meetings in Dushanbe with the heads of delegations including the President and the Prime Minister of Tajikistan, Prime Ministers of Russia, China and Kazakhstan as very useful and encouraging. He further gave details of his discussions with these leaders.
Board may give nod if Pak requests formally: Fund
‘SBA extension’ yet unpled: IMF ISLAMABAD: International Monetary Fund (IMF) has said that it has not received any formal request from Pakistan for extension in Standby Arrangement (SBA) schedule. External Affairs Director of IMF Caroline Atkinson said this while responding to a question during a press briefing here in Islamabad. She delineated that IMF has not received any such formal request regarding extension in SBA, which is expiring on December 31, 2010. She said, however, there are chances of approval if Pakistan makes a formal request to IMF's Executive Board. It has been learnt that Pakistan has already decided
to linger the SBA for three more months as Reformed General Sales Tax (RGST) bill needs to be endorsed by the National Assembly. Recalling from the past, Pakistan had approached International Monetary Fund (IMF) in November 2008 for financial assistance to avoid a balance of payments crisis. It was decided then, between stakeholders, that IMF will provide Pakistan with $11.3 billion in two year. As per designed programme, Pakistan is yet to receive two more tranches from IMF, of which the next one worth $70 million is tied with the passage of Reformed General Sales Tax (RGST) bill by National Assembly.-Online
NA committee on finance holds public hearing on RGST
Aim taken at taxing MNCs profit in full Zero rating only for exports: FBR there are companies engaged in selling packed milk which they purchase at lower rates from the villages and sell it out at higher prices earning huge profits. The representatives of Pakistan Flour Mills Association (PFMA), Pakistan Poultry Association (PPA) and Pakistan Dairy Association (PDA) presented their respective stances on RGST bill in the meeting as well. Representative of PFMA See # 8 Page 11
ISLAMABAD: Majority of the members of National Assembly Standing Committee on Finance has said that the multinational companies (MNCs) will not be allowed to loot and plunder at will. The committee met here to continue with its public hearings on Reformed GST. Committee members said such companies’ profits smust be taxed fully without any concession. The debaters elaborated that
SBP licenses Sindh Bank Staff Reporter
Weather Forecast CITIES
SC forms bench to dig into Hajj scam
Defence Committee of Cabinet rejects stolen cables as spurious
ISLAMABAD: Defence Committee of the Cabinet Friday rejected the WikiLeaks Portfolio Investment disclosures terming them as a SCRA(U.S $ in million) conspiracy against Pakistan. 163.65 Yearly(Jul, 2010 up to 2-Dec-2010) The Defence Committee of 0.92 Monthly(Nov, 2010 up to 2-Dec-2010) 1.07 the Cabinet met here at Prime Daily (2-Dec-2010) 3796 Minister's House. Total Portfolio Invest (19 Nov-2010) According to sources the NCCPL committee rejected WikiLeaks (U.S $ in million) disclosures regarding Pakistan FIPI (3-Dec-2010) 10.45 and termed it false and unauLocal Companies (3-Dec-2010) -4.53 thentic and an attempt to Banks / DFI (3-Dec-2010) -2.42 malign the political and miliMutual Funds (3-Dec-2010) -1.25 tary leadership of the country NBFC (3-Dec-2010) -0.73 as well as damage the cordial Local Investors (3-Dec-2010) -1.79 relations amongst Muslim Other Organization (3-Dec-2010) 0.27 countries and Pakistan allies. Global Indices According to PM House Index Close Change spokesman, in his opening KSE 100 11,406.66 63.11 remarks while presiding over Nikkei 225 10,178.32 9.80 the Defence Committee of the Hang Seng 23,320.52 128.26 Cabinet meeting, Prime Sensex 30 19,966.93 25.77 ADX 2,745.58 15.71 Minister Syed Yousuf Raza SSE COMP. 2,842.43 1.18 Gilani welcomed the new FTSE 100 5,752.09 15.47 Chairman of the Joint Chief of *Dow Jones 11,353.22 9.19 Staff Committee General *Last Updated 20:00 PST Wynne and also wished GDR update General Kayani success in his $.Price PKR/Shares new term. Symbols 111.42 MCB (1 GDR= 2 Shares) 2.60 Safeguarding of Pakistan's OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
Obama lands in Kabul on surprise visit
KARACHI: The State Bank of Pakistan (SBP) Friday issued licence to Government of Sindh to set up Sindh Bank. "The central bank has awarded the licence so that Sindh Bank could be launched at the earliest," said SBP spokesman Syed Wasimuddin. He said that the licence has been awarded after completion
of formalities by Securities and Exchange Commission of Pakistan (SECP). The Sindh Bank will have Mohammed Bilal Shaikh as its Chief Executive while other members of the Board include Chief Secretary Sindh, Additional Chief Secretary, Secretary Finance Sindh,Javed Mehmood, Wazir Ali Khoja and Abdul Wahab as the private members of the Board, he added.
He also sought views of the participants of DCC on his upcoming visit to Afghanistan. The DCC underscored the importance of Prime Minister's forthcoming visit to Afghanistan, which will contribute to further broadening and deepening of comprehensive cooperation between the two brotherly Islamic countries. The Prime Minister directed that the Committee will meet once in each quarters of the year to deliberate on all facets of the national security as these are unabatedly under a constant flux. The Prime Minister reiterated that we have the resolve and the potential to safeguard our sovereignty and integrity. The meeting was attended by Defence Minister, Interior Minister, Finance Minister, Minister for Information and Broadcasting, Chairman Joint Chief of Staff Committee and the three services Chiefs.Online
Lawmakers want Fauzia Wahab out of NA body ISLAMABAD: Opposition and government allied parties Friday demanded removal of Fauzia Wahab as Chairperson National Assembly Standing Committee on Finance for her inappropriate and rude behavior and have submitted an application in this regard to the National Assembly Speaker Fehmida Mirza. Members of the committee from PML-N, PML-Q, JUI-F and MQM talking to media after the panel meeting said that Fauzia Wahab has become a dictator and she doesn't allow anyone to debate RGST bill during the meeting. Nine out of 17 members of the committee have sent a written application to the Speaker in this regard. The members who have moved the application include Shahid Khaqan See # 11 Page 11
China files plea against WTO’s ruling GENEVA: China has appealed against a ruling by a World Trade Organization panel upholding the right of the United States to impose extra duties on Chinese goods that Washington said were unfairly priced and subsidised, an official at China's WTO mission said on Friday. The appeal, launched on Dec. 1 in the complex case involving treatment of goods from a See # 9 Page 11
Cotton arrivals fall 19.86pc KARACHI: Cotton production in the country has recorded a significant decline of 19.86 per cent to more than 8.357 million bales till December 1, 2010 over last year's 10.427 million bales. According to a consolidated statement of Pakistan Cotton See # 10 Page 11
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani chairing the meeting of Defence Committee of Cabinet (DCC) at PM House.-APP
WikiLeaks
One cable says Sen Kerry advised non-aggression pact with Delhi
US told Pakistan to share anti-terror plan with India l Pakistan foreign missions' documents safe: FO l WikiLeaks switches to Swiss domain l LHC rejects plea to ban WikiLeaks l Spilled beans to hurt US diplomacy l Karzai seen as weak by US, own cabinet
WASHINGTON: According to a latest leaked cable powerful United States Senator John Kerry had asked Pakistan Prime Minister Yousuf Raza Gilani to share with India Pakistan's plan of action for fighting terrorism if it was "really serious" in resuming Indo-Pak dialogue, but the PM wasn’t sure of public support for the idea. Details of the meeting between Kerry, chairman of the US senate foreign relations committee, and Gilani on February 16 have been communicated in a confidential cable from the US embassy in Islamabad, which was leaked by WikiLeaks. During the meeting, Kerry said that in light of the
l German minister’s aide sacked over WikiLeaks l US feared Sharif will launch a drive on return l Diplomats saw no ISI link in Mumbai attack l US was pressing for Saudi Arabia help in Pak
February 13 bombings in Pune, politicians in India were focused on counter-terrorism. "And as such he suggested that Pakistan present the Indian government with its plan to tackle terrorism," the cable said. Kerry told Gilani that this would be a clear "confidence builder" that would make India more willing to move forward in talks about Kashmir and water disputes. He emphasised that the future of India, Pakistan and the US depended on their govern-
ments' willingness to "challenge old suspicions" and work together and suggested that Pakistan and India sign a nonaggression pact. Kerry said that the US and other countries of goodwill would be prepared to help in any way possible. Meanwhile Foreign Office Spokesman Abdul Basit has said that revelations made by the Wikileaks would hamper the US diplomacy as the US itself is worried about the leakage of See # 7 Page 11
2
Saturday, December 4, 2010
FPCCI urges India to improve cross border trade Staff Reporter KARACHI: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) called for removal of NTBs by India and facilitation of movement of people across borders said a handout issued here. To start with there was a need for increasing the traffic frequency by road, rail and air, increase in customs check posts, allowing bank branches to be opened in both countries and trade facilitation. While agreeing as fair the grant of MFN status to India by Pakistan, Sultan Chawla, President Federation of Pakistan Chamber of Commerce and Industry (FPCCI), President
Indo Pakistan Chamber Of Commerce (IPCC) S M Muneer, Vice President SAARC Iftikhar Ali Malik, Tariq Sayeed, Zikarya Usman and Zubair Tufail has strongly demand from the Federal Minister of Commerce India Anand Sharma as Pakistani businessmen delegation visited New Delhi. Sultan Chawla called upon India to lower the tariffs on goods of interest to Pakistan. In the longer term, he said there would be need to cooperate on regular cross-border investment flows and encouragement to FDI in each other's country. Tariq Sayeed, Vice President, CACCI stated that huge responsibility lies
on the respective Governments to transform the region into one of the dynamic hub of economic activities of the World through warmth of friendly relations. He said that both the countries are earnestly required to resolve all such issues, which have been the obstacles in growth of socio-economic cooperation, however, a strong political commitment based on sincerity will be required to transform South Asia into a prosperous region. He urged upon the goverts both countries to sign Bilateral Investment Treaty to promote greater economic cooperation at bilateral level and also to widen the sphere on economic activities.
FBR’s web-portal likely to collapse Staff Reporter KARACHI: The taxpayers have raised serious concerns before the FBR that its web portal was not working properly and the aim of automating the entire taxation system would collapse, it has been learnt. The fact that poor webportal system developed by Pakistan Revenue Automation Limited (PRAL) has made it diffi-
TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere 11:10 Mohaaz (F) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:05 Naram Garam
SATURDAY Time Programmes 8:00 Chai Time (Rpt) 9:05 Smithsonian Documentry 10:05 Dilkash Pakistan 10:30 Sara jahan(Rpt) 11:15 Karobari Duniya(Rpt) 12:00 News 12:05 Siyasat Mana Hai (Rpt) 13:00 AM News 13:05 Islamabad Say (Rpt) 14:00 News 15:00 News 15:05 Doosra Pehlu (Rpt) 16:00 News 16:05 Filmi Samaa(rpt) 16:30 Red Carpet (Rpt) 17:00 News 17:05 Aap Ka Paisa (Rpt) 17:30 Pakistan This Week 18:00 News 18:05 Sara jahan(Rpt) 18:30 Dilkash Pakistan 19:00 News 19:30 Tijarti Dunia 20:00 News 20:05 Kamyab 21:00 News 21:05 Teesri nazar 22:00 News 22:05 Agenda 360 23:05 Music Scene 23:30 Uff Tv 0:00 News
cult for individuals to file their income tax returns electronically. The tax payment and collection procedures are being automated by FBR to facilitate a large number of taxpayers but poor technological background of software development company has collapsed the entire system. On the other hand, The World Bank mission led by Carlos Silvani visiting FBR till December 7 to review its Information
Technology (IT) system and automated procedures. The implementation of information technology is one of the major components of Tax Administration Reform Project (TARP) in Pakistan. FBR's most of the IT work is done by the PRAL. Tax experts said that the software developed by PRAL was launched without proper testing, which resulted in problems for both tax officials and taxpayers.
Korean envoy asks for more co-operation Special Correspondent KARACHI: There is need for more people to people contact to reflect the very friendly relations between South Korea and Pakistan. This was said by Korean Ambassador Choong Joo Choi at a reception hosted by Korean Consul General in In Kee lee. The Korean Ambassador welcoming the businessmen of Karachi said he had found the city to be full of dynamics. He urged the business tycoons to explore each and every avenue to increase trade and business contacts. The Korean envoy said he was fully aware that Sindh was a richly
endowed province with a very rich Culture that was blessed with countless natural and human resources. He said he was hopeful that Korea and Pakistan would continue their cooperation successfully in different sectors. He further suggested both countries should join hands to achieve their common goals and should proceed to go beyond the talking stage and implement the potential that they possess. Korean ambassador while referring to the North Korean aggression on a South Korean village said it had created unnecessary tensions in the region.
Intel holds IT Winter Fiesta KARACHI: After successful IT awareness carnivals organised in the months of summer, Intel Pakistan is yet again hosting a 3-day IT awareness carnival titled, "Intel's IT Winter Fun Fiesta" at Park Towers. The carnival began on Friday here.. This activity has been organised for families and youth with lots of attractive offers, games and fun with the latest and affordable Intel Core Processor Family offerings on dis-
play. "The purpose of this carnival is to create awareness amongst masses on how they can use technology to equip themselves and be competitive in today's knowledge based economy. Intel Channel Partners will also be present at the event with specialized offering for customers" said Naveed Siraj, Country Manager, Intel Pakistan. The carnival will come to a close on Sunday, December 5.-PR
GB, a tax free state for 10 years Staff Correspondent LAHORE: The Chief Minister of GilgitBaltistan, Syed Mehdi Shah, has announced a tenyear tax holiday for all investments in the area that has the potential to become an investment heaven for both the local and foreign investors. The Chief Minister was speaking at the Lahore Chamber of Commerce and Industry on Friday. LCCI President Shahzad
Ali Malik, Senior Vice President Sheikh Mohammad Arshad, Vice President Sohail Azhar, Advisor to Governor Gilgit-Baltistan on Investment Mian Shafqat Ali, Advisor to Governor Gilgit-Baltistan on Tourism Sohail Lashari, LCCI immediate past President Zafar Iqbal Chaudhry, former Senior Vice President Tahir Javaid Malik and former Vice President Irfan Iqbal Sheikh also spoke on the occasion.
ISAAME forum starts in Dubai KARACHI: A presentation on devastation of floods in Pakistan was made at the inauguration of 38th India, South Asia, Africa, and Middle East (ISAAME) Forum Pakistan in Dubai Thursday evening. According to information reaching here Friday, the Forum has been organised by International Lions Club. The presentation highlighted the issues and problems faced in this regard followed by the role of Lions Club Pakistan in the relief activities and rehabilitation process. More than 2000 delegates from 52 countries attended the inauguration ceremony which was performed by president of The International Association of Lions Club, Lion Sid L. Scruggs III. Speaking on the occasion, he said that by the end of November Lions Club has 6,575 associations.-NNI
Govt serious for disabled’s uplift: Marri KARACHI: Sindh Minister for Power, Shazia Marri has said that differently-abled persons are a valuable asset for Pakistan and the Government is committed to ensuring that they are not deprived of their rights. This she said in her chief guest speech and speaking to journalists at the sports day organised by the Milestone School for S p e c i a l Education, on t h e "International day for disabled persons", here today. Emphasising the need to integrate all differentlyabled persons into mainstream society, Marri regretted that we in Pakistan, unfortunately did
not make use of their abilities the way they should, and choose instead to concentrate more on their disabilities. "It is time we understood that every indi-
people to look towards the differently-abled as equal partners in Pakistan's progress, adding that respect and recognition of their abilities was more
vidual has inherent value, and endeavored to utilise that value to the country's benefit," she said, adding that sidelining people on the basis of their disabilities was both offensive and unacceptable. She urged
important and constructive than sympathy. Stressing that the Pakistan Peoples Party had always supported individuals with limited of different abilities, Marri said that in keeping with the vision of
Shaheed Mohtarma Benazir Bhutto, who was a great benefactor of the disabled, the present Government was working on strict adherence to the disabled quota in each department, and aimed to increase the same. In keeping with Shaheed Mohtarma's vision she said, President Zardari had launched the S p e c i a l Persons Special Cards' s c h e m e , which was designed to help the disabled avail the two percent seats reserved for them at jobs and colleges, a 50 per cent concession in fares of air, road and rail travel, insurance coverage and micro-credit facilities.
SMEDA feasibilities termed outdated by Unisame Staff Reporter
KARACHI: Anand Sharma Federal Minister of Commerce India, Sultan Chawla, S M Muneer, Iftikhar Ali Malik, Tariq Sayeed, Zikarya Usman, Zubair Tufail, Nasiruddin Shaikh, Khuram Sayeed, Minister Trade Naim Anwar and Shahid Malik High Commissioner India also seen in the Picture.-Staff Photo
ISLAMABAD: Chief Airmarshal Shahdat Kaleem gives Certificate Gen Asad Kiyni during the ceremony .-Staff Photo
KARACHI: Group Photo at the occasion of introducing Signature UBL Priority Banking & Service, seen in the picture are Chairman KATI Syed Johar Ali Qandhari, Vice Chairmen Saleem-uz-Zaman and Shahid Javeed Qureshi with Ali Hasnain GM South UBL, Aamir Murtaza Regional Bussiness Head South.-Staff Photo
KARACHI: Dubai Picture Shows Internation President Sid L Scruggs Malik Khuda Baksh S M Munner & Other delegates are seen at Inaugration ceremony of Isaame Forum Pakistan held at local hotel.-Staff Photo
KARACHI: Consul General of republic of Korea and In Ki Lee, hosted a dinner in honour of the Ambassador Choong Joo Choi, at their residence. Picture shows host and hostess along with Chief Guest Korean diplomats, Pak and Korean prominent businessmen.-Staff Photo
KARACHI: Union of Small and Medium Enterprises (UNISAME) has complained to the Small and Medium Enterprises Development Authority (SMEDA) that most of the feasibility of different projects posted by SMEDA have become outdated due to the ever increasing cost of production, the devaluation of the rupee, the cost of finance in terms of the increase in discount rate and the feasibility needs to be revised.
President UNISAME Zulfikar Thaver said the SMEs would be misguided by the feasibility studies of several industries posted by SMEDA on their website and has urged SMEDA to revisit them and make appropriate changes wherever necessary due to the revised scale of wages, utilities, inputs, logistics, cost of finance and marketing. He said due to these factors of production and distribution most of the industries are not viable and need to be reexamined
on priority basis in order to enable the new comers to select the industries which are competitive. He urged SMEDA to publish a list of viable industries for the benefit of the new comers and outline the scope. The Union invited the attention of the SMEDA Chief Anwar Ahmad Khan to the urgent need to promote and develop the agro based industries in view of the increasing cost of food items which can be best encountered by increase in productivity of food items.
3 Saturday, December 4, 2010
Dollar falters on US jobs but losses seen capped
Previous Day Source
Events
AUD CHF EUR GBP EUR CAD CAD
AIG Services Index CPI m/m Final Services PMI Services PMI Retail Sales m/m Employment Change Unemployment Rate
While the numbers further support the Federal Reserve's quantitative easing program, which is a dollar-negative factor, analysts said the Fed would need a series of anemic data to exhaust all of the $600 billion allocated for boosting the economy. "US nonfarm payrolls are extremely volatile, so one data point is not probably enough to tell much about future trends," said Ugo Lancioni, currency strategist and portfolio manager at Neuberger Berman in London.
The firm has $180 billion in assets under management and Lancioni helps oversee the company's fixed-income assets totaling $about $80 billion.
"I don't think the big picture has changed much. Clearly, the US is dealing with very high unemployment. But there are indications that the US economy is gradually
Asian currencies
Peso dips on tight dollar liquidity; baht eases SINGAPORE: The Philippine peso fell on Friday as the dollar was buoyed by tight dollar liquidity and central bank purchases of the US Currency. China's yuan was flat against the dollar after the People's Bank of China set a higher mid-point to reflect the dollar index's 0.5 per cent fall the previous day. Dealers said the PBOC might let the dollar's perform-
ance guide the Chinese currency's movements in the near term, but in the long term, appreciation appears likely to continue as China needs to fight imported inflation. Spot yuan was trading at 6.6600 versus the dollar, little changed from Thursday's close of 6.6613. The dollar jumped at the open against the Philippine peso and tight onshore dollar liquidity and the central bank's
Stg rises against USD, falls versus euro after US jobs LONDON: Sterling rose against a weaker dollar on Friday after weak US jobs data put the US currency under broad selling pressure, but the pound continued to weaken against the euro. Although the debt crisis con-
tinues to weigh on euro sentiment, talk that the European Central Bank has been buying Portuguese and Irish bonds has eased investors' concerns and helped the euro recover. With the market focus firmly on events in the United States and the euro-zone, sterling was left in between -- gaining against the dollar but underperforming the euro. "A lot of people had been starting to take some profit on dollar longs in the last 48 hours and that has accelerated after the non-farm payrolls and ahead of the weekend," said Michael Derks, currency strategist at FXPro. "The focus is very much on the dollar and the euro and ster-
ling are just humming along." He added that there were concerns among investors about the UK banking sector's exposure to the debt problems in the euro-zone -- especially in Ireland and Spain -- but that for now this was just a risk and
probably more a story for 2011. Sterling was up 0.5 per cent against the dollar to $1.5691, keeping well above a twomonth low of $1.5485 hit on Tuesday. The euro rose 0.5 per cent to 85.10 pence, close to a high hit on Monday of 85.40 pence. This took it back above its 100day moving average, with the 200-day moving average the next target at 85.46 pence. The pound showed little reaction to data showing UK services sector activity eased last month in line with forecasts. Some had speculated that the data could beat expectations after this week's surprisingly strong manufacturing activity data. -Reuters
dollar buying intervention sent the US Currency to an intraday high near 43.95. Dollar/baht opened near 30.00 and the dollar found support. Weak bond market sentiment and market expectations for further Bank of Thailand dollar buying intervention at 30.00 underpinned sentiment. Traders were also unwilling to add to short dollar positions ahead of US jobs data later on Friday. -Reuters
Swiss franc weakens vs euro ZURICH: The Swiss franc pulled back further from a 10week high against the euro on Friday as worries about the health of the euro-zone's economy abated somewhat, and ahead of Swiss inflation data. "The Swiss franc has weakened a little bit against the euro. This is mainly because fears in the euro-zone have calmed down. We have also seen from a political side that they will do all they can to tackle the crisis. Spain is also taking measures to cut its budget deficit," Sarasin analyst Ursina Kubli said. "But in the coming weeks, GDP growth in the euro-zone is likely to weaken so the fears about the area's economic stability will probably return," Kubli said. At 0800 GMT, the franc was near flat against the euro compared to the New York close, trading at 1.3118 per euro. Against the dollar, the franc was 0.1 per cent weaker at 0.9933 per dollar. Markets will also focus on Swiss core inflation data due later in the session for further clues about whether the Swiss National Bank will opt to keep interest rates at ultra-low levels when it meets on Dec. 16. Analysts expect the SNB to keep rates on hold again. Reuters
Australian, NZ dollars cling to gains after tough week WELLINGTON/SYDNEY: The Australian and New Zealand currencies took a bit of a breather on Friday after a rebound in risk sentiment helped rescue them from multi-week lows, though a looming US jobs report could still spoil the party. The antipodean currencies made solid gains overnight, tracking the euro which rallied on talk the European Central Bank had stepped up its purchases of peripheral euro-zone bonds. That helped eased worries about Europe's debt crisis and took the sting out of Standard & Poor's warning that it may cut Greece's credit ratings again. But with the influential US non-farm payrolls data looming, investors were reluctant to take new positions. Any upside surprises could further help bolster appetite for risk, which is usually a positive for the Aussie and kiwi dollars. But Joseph Capurso, strategist at Commonwealth Bank, said it would also lift US bond yields, a move likely to underpin the greenback against other currencies. "The risks are that the payrolls come out stronger than what markets are currently expecting. I think you'd likely get something closer to 200,000," he said. On the day, the Aussie dollar traded in a very slim range between $0.9739 and $0.9775, having risen as high as $0.9779 overnight. It was last at $0.9758, to be up 0.7 per cent for the
week and well above a $0.9535 trough. Resistance was seen at the overnight high and then $0.9820, while Fibonacci support was at around $0.9650, a level representing the 38.2 per cent retracement of the August to November rally. Likewise, the kiwi was hemmed in a thin $0.7546-$0.7565 range, staying just below a one-week high of $0.7564 set overnight. It last traded at $0.7554. Immediate support for the kiwi was seen at $0.7451, with resistance at $0.7566. The Aussie retreated to NZ$1.2902, finding the going tough after hitting a three-week high at NZ$1.2950. Central banks in both Australia and New Zealand are due to hold their respective policy meetings next week, although no one seriously expects any rate hikes. "We continue to expect that rates will be lifted through next year, but now expect the next move to be in Q2 2011," said HSBC economist Paul Bloxham of the RBA. "This slight ease back in our expectation is due to recent weakness in some of the indicators, plus the fact that rates increased by more than 25bps in early November (mortgages went up by around 40bps) and we are yet to see the effect of these rate increases on the economy." -Reuters
starting to pick up again," Lancioni said. By contrast, the euro-zone's peripheral countries remain mired in a deep pit of debt, which should keep the euro's downtrend intact for now. European authorities have bailed out Ireland but investors are still worried about which may be the next euro-area country to require assistance. The euro, however, recovered on Friday, posting its best three-day gain since May, mainly due to the European
Central Bank's purchases of peripheral euro-zone bonds. On the week, the euro-zone single currency was on track for a 0.7 per cent rise. In midday New York trade the euro was up 1.1 per cent at $1.3369, blowing past the key 100-day moving average at $1.3325 and well above a 21/2-month low of $1.2969 hit on Tuesday. The next key level to watch is $1.3467, the 38.2 per cent retracement of the euro's move from its peak at $1.4283 in early November to the $1.2969 trough. Against the yen, the dollar fell to 2-1/2-week lows at 82.53. It was last at 82.70, down 1.4 per cent. -Reuters
Yuan flats after PBOC sets higher mid-point SHANGHAI: China's yuan ended flat against the dollar on Friday after the People's Bank of China set a higher mid-point to reflect the dollar index's 0.5 per cent fell the previous day as the European Central Bank bought euro-zone debt. Dealers said the PBOC may let the dollar's performance guide the Chinese currency's movements in the near term, but in the long term, appreciation appears likely to continue as China needs to fight against imported inflation. Spot yuan closed at 6.6633 versus the dollar, little changed from Thursday's close of 6.6613 and was up 2.44 per cent since the PBOC announced a depegging in mid-June. It moved in a range of 6.6567 to 6.6643, trading around the day's mid-point of 6.6605, which was stronger than Thursday's 6.6691. The mid-point is a level from which the yuan may rise or fall 0.5 per cent against the dollar on a given day. "In general, spot yuan trade is quiet around year-end, and the central bank intends to keep it stable so range trade is expect-
ed," said a dealer at an Asian bank in Shanghai. Dealers reported that most of them had reached whole year targets for volume and profit in yuan trade for the year, which means Chinese currency trade could be muted around year-end. But the PBOC was expected to let it rise slightly before the USChina Joint Commission on Commerce and Trade meeting on Dec. 14-15, which is set to add political pressure on the yuan. Several dealers expected that the yuan may rise more than 3 per cent next year as the authorities respond to domestic economic problems, such as high inflation. Meanwhile, the market is widely divided over November's consumer prices due out on Dec. 13. Some expect it to jump to 5.0 per cent from October's 25-month high while others believe October was a peak. Offshore, one-year NDFs strengthened slightly to 6.5040 bid late on Friday from Thursday's close of 6.5360, with implied yuan appreciation in a year's time rising to 2.41 per cent from 2.04 per cent shown on Thursday. -Reuters
Indian rupee hits 3-wk high on broad dlr drop MUMBAI: The Indian rupee strengthened to a three-week high on Friday boosted by broad losses in the dollar versus major currencies, while hopes for sustained foreign fund buying of domestic shares also aided. The partially convertible rupee ended at 45.10/11 per dollar, after hitting 45.0550, its highest since Nov. 15, and 0.4 per cent above Thursday's closing of 45.275/285. On the week, the rupee rose 1.6 per cent, its best weekly gain in 2 months. "There was good importer demand below 45.10 levels but otherwise capital inflows and risk appetite continued to drive the rupee higher," said Rohan Naik, head of foreign exchange trading at Standard Chartered Bank. "I expect a range of 44.75 to 45.75 next week." Foreign funds have bought $517.76 million worth of shares in the last four trading sessions until Thursday, latest data shows, taking net investments to a record of around
Forecast
46.2 0.2% 55.4 53.0 0.5% 15.2K 7.6%
0.1% 55.2 53.2 0.4% 20.2K 7.9%
Previous
50.7 0.5% 55.2 53.2 -0.1% 3.0K 7.9%
Currencies Rate
US payrolls weaker than expected, weighing on dollar NEW YORK: The dollar dropped across the board on Friday after data showed the US economy created far fewer jobs than expected, although persistent euro-zone debt problems may limit losses, particularly against the euro. Many analysts viewed the weak employment report as an outlier amid a slew of generally positive US data released the last few weeks that suggested the economy was slowly gaining traction. Labor Department data showed US nonfarm payrolls rose 39,000 last month, much weaker than expectations for 140,000 new jobs. Also, the unemployment rate increased to 9.8 per cent.
Actual
$29.2 billion in 2010, on top of the $17.5 billion purchased last year. Capital inflows towards a series of public issues should also keep the Indian unit supported, dealers said. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange closed at 45.2875, while both on the MCX-SX and United Stock Exchange they ended at 45.29. Total traded volume on the three exchanges was below average at $4.8 billion. -Reuters
Name ;EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3131 1.3178 1.0021 1.0064 1.5618 1.5646 1.0167 1.0268 0.9675 0.9694 110.4600 110.6600 0.8408 0.8436 1.3158 1.3184 131.3800 131.5200 83.9500 84.1000 0.9863 0.9877 1392.5000 1396.5800 28.6400 28.7900
Bid 1.3128 1.0017 1.5615 1.0163 0.9672 110.4100 0.8405 1.3154 131.3300 83.8800 0.9856 1391.6500 28.5700
Low 1.2972 0.9988 1.5548 1.0153 0.9544 108.4500 0.8337 1.3015 129.9500 83.1400 0.9765 1382.2100 27.9900
London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 03/12/2010 A USD GBP CAD EUR JPY O/N 0.24063 0.55563 0.98167 0.38375 SN 0.08938 1WK 0.25500 0.56188 1.02500 0.63125 0.10063 2WK 0.25750 0.56625 1.05750 0.66375 0.10563 1MO 0.26500 0.57813 1.10000 0.76375 0.11875 2MO 0.28250 0.63313 1.15333 0.85625 0.14563 3MO 0.30344 0.74375 1.23000 0.97125 0.18250 4MO 0.35000 0.82625 1.30750 1.03500 0.24500 5MO 0.40844 0.93375 1.36500 1.11375 0.30313 6MO 0.46219 1.03938 1.44167 1.20625 0.35188 7MO 0.51688 1.11563 1.51000 1.25000 0.40375 8MO 0.57000 1.20063 1.58000 1.30000 0.45125 9MO 0.62076 1.28313 1.65000 1.34875 0.49625 10MO 0.67147 1.35813 1.71667 1.39750 0.52125 11MO 0.72702 1.42688 1.80167 1.44500 0.55000 12MO 0.78794 1.49500 1.88667 1.48750 0.57875
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Dec 07 2010 Dec 09 2010 Dec 21 2010 Jan 13 2011 Dec 14 2010 Dec 16 2010 Dec 07 2010
Sep 08 2010 Mar 05 2009 Dec 19 2008 May 07 2009 Dec 16 2008 Mar 12 2009 Nov 02 2010
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, December 03,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.95 134.06 113.50 85.62 86.43 83.82 12.44 1.03 14.12 65.64 15.23 22.92 11.06 12.91 304.47 27.30 64.90 23.60 23.40 0.08 2.86
85.75 133.74 113.23 85.42 86.23 83.62 12.41 1.02 14.09 65.49 15.20 22.86 11.04 12.87 303.77 27.24 64.75 23.55 23.35 0.07 2.85
85.56 133.44 112.97 85.19 86.01 83.40 12.38 1.02 14.05 65.32 15.16 22.80 11.01 12.84 302.97 27.16 64.58 23.49 23.28 0.07 2.85
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for December 03, 2010
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 30--years
KASB 12.40 12.60 12.70 12.80 13.02 13.28 13.28 13.50 13.60 13.70 13.80 13.82 13.85 13.85 13.87 13.92 13.94 14.05 14.50 14.60 14.75
BMA 12.25 12.60 12.70 12.80 13.00 13.10 13.30 13.40 13.60 13.55 13.75 13.75 13.80 13.80 13.85 13.97 13.97 14.10 14.35 14.50 14.75
ELXIR 12.30 12.50 12.70 12.85 13.02 13.18 13.30 13.45 13.60 13.68 13.75 13.77 13.78 13.79 13.84 13.88 13.93 14.08 14.40 14.50 14.70
GSL 12.30 12.60 12.75 12.85 13.04 13.18 13.33 13.50 13.65 13.70 13.75 13.78 13.80 13.88 13.95 14.00 14.10 14.20 14.40 14.65 14.90
ICSL 12.60 12.70 12.80 12.90 13.00 13.10 13.20 13.40 13.50 13.60 13.70 13.75 13.75 13.80 13.80 13.80 13.90 14.10 14.30 14.40 14.65
JSCM AvgRate 12.30 12.36 12.50 12.58 12.65 12.72 12.80 12.83 12.95 13.02 13.10 13.17 13.30 13.30 13.45 13.46 13.55 13.60 13.70 13.66 13.75 13.75 13.79 13.78 13.81 13.80 13.83 13.83 13.84 13.86 13.86 13.91 13.87 13.95 14.06 14.10 14.30 14.38 14.40 14.51 14.60 14.73
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.80 0.94 0.91 0.94 0.52 0.30
0.97 0.82 0.88 -0.02 0.56 0.50
0.81 0.91 0.93 0.88 0.79 0.47
0.96 0.85 0.85 0.66 0.75 0.74
0.76 0.93 0.85 0.91 0.83 0.78
0.91 0.92 0.71 0.90 0.45 0.34
USD/CAD USD/CHF -0.74 -0.78 -0.75 -0.74 -0.07 -0.19
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)03/12/2010 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN 12.20
12.70
12.45
12.95
13.00
13.50
13.15
13.40
13.40
13.65
13.45
13.95
13.60
14.10
13.70
14.20
JSBL
12.30
12.80
12.60
13.10
12.75
13.25
13.25
13.50
13.40
13.65
13.45
13.95
13.70
14.20
14.00
14.50
ASPK 12.10
12.60
12.40
12.90
12.70
13.20
13.05
13.30
13.20
13.45
13.40
13.90
13.50
14.00
13.60
14.10
CIPK
12.25
12.75
12.30
12.80
12.60
13.10
13.10
13.35
13.25
13.50
13.35
13.85
13.50
14.00
13.60
14.10
DBPK 12.10
12.60
12.15
12.65
12.20
12.70
12.75
13.00
12.90
13.15
13.15
13.65
13.25
13.75
13.35
13.85
FBPK 12.20
12.70
12.35
12.85
12.70
13.20
13.15
13.40
13.40
13.65
13.60
14.10
13.70
14.20
13.90
14.40
FLAH 12.25
12.75
12.40
12.90
12.60
13.10
13.15
13.40
13.40
13.65
13.45
13.95
13.60
14.10
13.70
14.20
HBPK 12.00
12.50
12.35
12.85
12.70
13.20
13.10
13.35
13.35
13.60
13.45
13.95
13.60
14.10
13.65
14.15
HKBP 12.10
12.60
12.20
12.70
12.60
13.10
13.05
13.30
13.35
13.60
13.40
13.90
13.60
14.10
13.65
14.15
NIPK
12.25
12.75
12.50
13.00
12.75
13.25
12.95
13.20
13.05
13.30
13.15
13.65
13.20
13.70
13.25
13.75
HMBP 12.25
12.75
12.40
12.90
12.70
13.20
13.25
13.50
13.40
13.65
13.50
14.00
13.75
14.25
13.85
14.35
SAMB 12.20
12.70
12.40
12.90
12.75
13.25
13.10
13.35
13.35
13.60
13.50
14.00
13.70
14.20
13.80
14.30
MCBK 12.15
12.65
12.35
12.85
12.60
13.10
13.00
13.25
13.30
13.55
13.40
13.90
13.50
14.00
13.75
14.25
NBPK 12.10
12.60
12.30
12.80
12.70
13.20
13.10
13.35
13.25
13.50
13.40
13.90
13.60
14.10
13.70
14.20
SCPK 12.00
12.50
12.30
12.80
12.60
13.10
12.95
13.20
13.20
13.45
13.45
13.95
13.50
14.00
13.70
14.20
UBPL 12.20
12.70
12.35
12.85
12.60
13.10
13.10
13.35
13.35
13.60
13.45
13.95
13.60
14.10
13.70
14.20
AVE
12.68
12.36
12.86
12.67
13.17
13.09
13.34
13.32
13.57
13.43
13.93
13.58
14.08
13.70
14.20
ABPL
12.18
-0.23 -0.88 -0.91 -0.91 -0.59 -0.56
4 Saturday, December 4, 2010
The Land We Call Sindh
The Financial Daily International Vol 4, Issue 117
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Shazia Marri
I
magine a land that can trace its heritage back over 5 millennia - 5000 years of history; 5000 years of belonging; 5000 years that have resulted in a deep rooted, all encompassing love and devotion, to the land of our forefathers, and the land to our children - the land we call Sindh. 'Oh God! May ever You on Sindh bestow abundance rare; Beloved! All the world let share
Thy grace, and fruitful be.' This prayer of that great son of Sindh Shah Abdul Latif Bhittai was heard and answered by the Almighty, as indeed He bestowed on Sindh rare and invaluable treasures. From the shrines of Sufi saints to the ancient ruins of Moenjodaro; From the vast expanse of the Thar desert to the mountains of Khirthar; from the largest fort in the world at Ranikot to the birthplace of Emperor Jalaluddin Mohammad Akbar; from the ruins of Bhanbhore and Mansura to the tombs of Makli; from the placid waters of Keenjhar and Kelaanhkaar to the 250 kilometres of turbulent coastline - we have been extraordinarily blessed. And all these come together to give us Sindh. Every brick of the Makkli tombs, every marble carving of Sadhu Bela, every pebble at Gorrakh is a part of the greater fabric that makes up our land and our self identity. The culture of Sindh is an embodiment of the ancient civilizations, the
rulers, the invaders, and the many diverse inhabitants of the land. Sindh's cultural life has been shaped, to a large extent, by its comparative isolation from the rest of the subcontinent. A long stretch of desert to its east and a mountainous terrain to the west served as barriers, while the Arabian Sea in the south and the Indus in the north prevented easy access. As a result, the people of Sindh developed their own exclusive artistic tradition. Our arts and craft, music and literature, games and sports have retained their original flavor. Sindh is rich in exquisite pottery, variegated glazed tiles, lacquer-work, leather and straw products, needlework, quilts, embroidery, hand print making and textile design. Perhaps the most recognized emblem of our heritage today is the Ajrak. Arjak is a sheet used as a covering in all weathers. But to merely relegate it to that is a gross underestimation of its inherent worth. An ajrak holds within its
folds the ancient culture of Sindh. Our history which encompasses over 5000 years is held in trust by this sheet. Indeed the Ajrak is part of every household in Sindh - at every event, at all occasions, and in our daily lives, the people of Sindh, and the Ajrak are deeply entwined. This one piece of cloth takes on so many shades - when a man dons the Ajrak, it symbolizes his honour, his dignity, his strength - and when a woman wears, it speaks of her virtue, her respect. Today, no event, be it happy or sad, private or public, is complete without the Ajrak. It is a remnant of our past, and an usher of our future. The land of poets, of scholars, of thinkers, of artists - the final abode of Hazrat Lal Shehbaz Qalandar and Shah Abdul Latif Bhittai, Sindh embodies the spirit of saints. And it is our responsibility to preserve, to protect, and to promote this spirit, through our preservation and celebration of our unique and rich heritage.
assessment. But on Wednesday he told reporters there was hope the United States and India could move forward on the issue of measuring, reporting and verifying emissions. "Coming in, it was quite clear that we were converging," Pershing said. "But we've not yet reached agreement." The Indian proposal would not penal-
warming. India's Ramesh said an agreement on so-called transparency could lead to bigger agreements on climate, like protecting forests and financing. But there was also risk for the United States. If it agrees on one of the key aspects of the talks in Cancun, it could put pressure on Washington to work out another one: long-term financing for
financing. 2010 COULD BE HOTTEST Pressure on climate negotiators was also growing as evidence mounted that 2010 would be one of three hottest recorded and that human actions like burning fossil fuels and cutting down forests was to blame. Michael Jarraud, the head of the UN's World Meteorological Organization, said at a news conference that 2010 could be the warmest year since 1850, the first year such records were kept. It also caps a record-warm decade. "The trend is of very significant warming," Jarraud said. "If nothing is done ... (temperatures) will go up and up," he said. And emissions of carbon dioxide, the main greenhouse gas, threaten fish supplies. Acidification of the seas caused by carbon dioxide could threaten fisheries production and is causing the fastest shift in ocean chemistry in 65 million years, a UN study showed. Production of shellfish, like mussels, shrimp or lobster, could be most at risk since the acidic water eats into their protective shells, according to the report. "Ocean acidification is yet another red flag being raised, carrying planetary health warnings about the uncontrolled growth in greenhouse gas emissions," said Achim Steiner, head of the UN Environment Program.-Reuters
Keeping POL unchanged Breaking climate-talks logjam A
Contrary to general expectations, this time Ogra decided not to increase prices of POL products. However, the axe fell on government and oil marketing companies. The government is likely to witness a decline in petroleum development levy to the tune of Rs1.5 billion. Margin of OMC have been fixed based on crude oil price at US$65 per barrel, contrary to prevailing hovering around US$85 barrel. For considerably long time experts have been warning the government and suggesting applying restraints. However, the policy planners didn't pay any attention. The outcome has been high inflation and persistent increase in electricity tariff. Despite increase in tariff, inter corporate debt kept on mounting. Despite issue of two tranches of term finance certificates the situation got from bad to worse. The decision deserves appreciation mainly because of closure of CNG stations during winter. It may be true that gasoline demand seems inelastic, but has been hurting the poor men, using motorcycles. It would also result in some savings for the domestic consumers of electricity, who are forced to rely on smaller generators mostly running on motor gasoline. However, the real point to ponder is containing inter corporate debt. Many sector experts fear that by the end of current financial year inter corporate debt would swell to over Rs500 billion. In such a scenario it would be highly recommended that part of the petroleum development surcharge should be used to offset the debt. There is also a suggestion that government should reduce the incidence of petroleum development levy. Ideally speaking the suggestion looks promising but keeping in view the harsh reality, unless transmission and distribution losses are contained financial condition of distribution companies can't be improved. There is also a suggestion that government should lessen dependence on fossil oil and gas by utilizing alternate sources of energy. The three most promising alternatives are coal, wind and hydel. Since bulk of the electricity is generated by thermal power plants exploiting coal potential is most lucrative. However, the ultimate solution for the northern areas is hydel and for the coastal areas is installation of wind mills. One of the serious constraints faced by Pakistan is mobilizing capital for hydel and wind power plants, both are capital intensive by have little running cost. It is also necessary to remind the government that we have not been able to attract international exploration and production companies. Pakistan enjoys the most enviable success record but exploration companies have remained a little shy due to law and order situation of the country and at times resistance by the locals. Pakistan has to come up with a comprehensive energy policy addressing each segment i.e. hydel, thermal and wind power generation, gas distribution companies and construction of LNG terminal, if we could not go ahead with any gas pipeline project.
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.
n Indian proposal could break a deadlock between rich and poor countries over how to share the burdens of tackling global warming, India's environment minister said on Thursday before heading to UN climate talks in Mexico. India's environment minister Jairam Ramesh said a proposal that would require countries to report what actions they are taking to fight global warming could win critical support from the United States and increase chances that representatives at the UN climate talks could reach a broader agreement. "It is basically meant to break the logjam and it is basically meant to bring the US in because without some progress in (transparency) the US is not going to come on board," Ramesh said before traveling to the summit. Ramesh's hopeful assessment came on a day that the UN released more pessimistic climate news. It said 2010 would be one of the top three hottest years on record. India recently released a plan that countries rich or rapidly developing that contribute more than 1 per cent of global greenhouse gases should report their actions and their emissions to the United Nations every three years. Jonathan Pershing, the deputy US climate negotiator, was not immediately available to comment on Ramesh's
“
India recently released a plan that countries rich or rapidly developing that contribute more than 1 per cent of global greenhouse gases should report their actions and their emissions to the United Nations every three years.
ize poor countries if they did not meet pledges on emissions reductions. HOT SEAT Analysts said the Indian proposal provided a good foundation. "India is clearly trying to be constructive," Michael Levi, a fellow on climate at the Council on Foreign Relations. For the United States, an agreement with India could put pressure on China to come on board or risk looking like it is not doing enough to fight global
Mighty Israel has no aerial firefighting
F
ormidable in war, Israel was were prudent enough to buy the waterdefenseless on Friday in the face bomber aircraft. Greece has 21 of them, of a wildfire, casting around des- Croatia 6. Israel instead has chosen to "improperately for help from neighbors with vise," critics said. On Thursday night, air fire-fighting planes. Israel was caught flat-footed by the force mobile water cannon designed to forest blaze now raging for a second day operate on flat tarmac could be seen through the tinder-dry Carmel hills trundling warily into position on steep above the Mediterranean port of Haifa, earthen slopes, their range still quite inadequate. because it Israel has 360 F-16 fighters, By conhas no trast, Israel w a t e r far more than most countries has 360 Fbombers. 16 fighters, The death outside the United States far more of 41 people in the that have bought the world's than most countries flames on T h u r s d a y best-selling attack plane, not outside the n i t e d shocked the to mention many F-15s and UStates that c o u n t r y. S o m e the whole panoply of costly, have bought the world's 1 5 , 0 0 0 Israelis had advanced military aviation best-selling a t t a c k to be evacuated from their homes as the flames plane, not to mention many F-15s and swept down on them unchecked. The the whole panoply of costly, advanced inadequacy of the response has been military aviation. Commentators said the national Fire openly admitted. "Israel has never prepared itself in any and Rescue Service, with some 1,400 form for such a need," Prime Minister firefighters, was simply not prepared for Benjamin Netanyahu said. "It was never the fire. "Firefighters know that their organizataken into account." He told reporters: "We have to stop the tion has been systematically neglected fire. It can only be done with the aircraft, by the government for decades," wrote we don't have any other means...We Yaakov Lappin in the Jerusalem Post. Highlighting the need for adequate fire need to bring in more planes." Israel's call for help had been defenses, Israeli army planners say the answered by Greece, Cyprus, Britain, densely populated Tel Aviv metropolitan Turkey, Bulgaria, Russia, Egypt, area could be the target of a missile blitz Azerbaijan, Spain, Croatia, France and in a future war, while northern towns could be set ablaze in a rain of shortJordan, Netanyahu said. Israel could buy three state-of-the-art range rockets from Hezbollah in Bombardier Superscooper firefighting Lebanon. A drill held in May to simulate some planes for the price of just one of the Fworst case scenarios was described by 35 stealth fighters it has on order. The highly specialized amphibious fire officials as "largely meaningless, aircraft, costing $28.5 million each, can because the organization was underfundscoop and drop six tones of water up to ed, understaffed and lacking the equip10 times per hour on a fire that is near a ment needed...," the newspaper said. Shocked by the devastation, big body of water. The Israeli blaze is Netanyahu said on Friday: "During the only a few km (miles) from the sea. next week we will announce a plan to IMPROVISATION But Israel does not have any. Instead it buy planes that will be presented to the has to rely on Mediterranean neighbors cabinet for approval and execution."who also face a constant wildfire risk and Reuters
poor countries to help them mitigate climate change and adapt to more storms, floods and heatwaves. "It also puts the US on the hot seat for the money," Levi said. The United States, Norway and other rich countries agreed at last year's climate talks in Copenhagen to financing of $100 billion per year by 2020. Since then the U.S. climate bill failed. It was expected to set up a carbon market that would help raise money for the
Rising fears of a new arms race
H
illary Clinton, US Secretary of Clinton said on Thursday that North State said on Friday the world Korea posed an "immediate threat" folhoped Iran would use next week's lowing its revelations of new nuclear talks to fully discuss its nuclear pro- facilities and an artillery attack on a South gramme, which she said was as much of Korean island which sent tensions on the a threat to global peace as North Korea. divided peninsula soaring. Speaking in Bahrain where she is REGIONAL FEARS attending a security conference, Clinton Clinton's trip to Bahrain, where she will said the entire region was concerned deliver a speech later on Friday on the US about Iran's nuclear aspirations and hoped role in regional security, follows revelaTehran would come to the talks in tions contained in leaked US embassy Geneva next week ready to negotiate. cables which showed many regional lead"Perhaps the Iranians, with their return ers privately urged Washington to take a to the talks tougher Clinton, who will meet the stance on in Geneva starting Tehran. M o n d a y , foreign ministers of Japan and T h e will engage South Korea in Washington on Wikileaks, seriously showed that with the Monday to discuss mounting fears over international I r a n ' s community tension with North Korea, said nuclear proon what is a gram are the twin threats posed by concern widespread Pyongyang and Tehran showed shared by and that nations on some in the the need for international every contir e g i o n nent but believe it solidarity against nuclear most particshould be proliferation ularly right stopped at here in the any cost. region," Clinton said. Foreign Minister Sheikh Khaled bin Talks between Iran and six big powers Ahmed al-Khalifa of Bahrain said to be the United States, France, Russia, Britain, pushing hard for action against Tehran, China and Germany are due to resume declined to discuss details contained in next week in Geneva, the first such meet- documents that he said were US governing in more than a year. ment property. Clinton, who will meet the foreign minBut he said that any move towards a isters of Japan and South Korea in nuclear weapons programme in the Washington on Monday to discuss region was unacceptable. mounting tension with North Korea, said "We do believe that every country in the twin threats posed by Pyongyang and the Middle East has the right to nuclear Tehran showed the need for international power for peaceful use when it comes to solidarity against nuclear proliferation. taking that power to developing into a "We're all concerned about these two cycle for weapons grade (nuclear matericountries... (but) its not directed at the al), that is something that we can never people of either country. It is a concern accept and we can never live with in this about decisions being made by the lead- region," he said. US officials say there is ers of these countries that puts at risk the still time for a diplomatic solution with peace and stability of two regions in the Iran but the increasingly defiant state world," Clinton said. must take "tangible steps" to address conThe United States has no quarrel with cerns about its nuclear program. Iran's desire to use nuclear energy for US officials also say economic sancpeaceful purposes, she added. tions imposed on Iran over its nuclear "What we object to is the pursuit of program -- which Tehran insists is for nuclear weapons that can be used to peaceful purposes -- are biting increasingthreaten and intimidate their neighbors. It ly deeply, and may be cutting investment will spark arms races in both regions," in its crucial energy sector by as much as Clinton said. $60 billion.-Reuters
5
Saturday, December 4, 2010
South East Asian stocks
Europe shares end slightly lower; US data mixed KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,343.55 11,406.66 63.11 0.56 202.08
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,541.89 3,568.84 26.95 0.76 9.08
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,893.18 2,901.04 7.86 0.27 0.43
Major Gainers
Symbol
Close
Change
RMPL 1,972.00 WYETH 1,006.25 UPFL 1,104.33 FZTM 408.99 BATA 643.71
92.67 47.79 39.33 18.70 18.37
Major Losers
Symbol
Close
Change
COLG 852.00 SIEM 1,300.00 LAKST 316.33 NESTLE 2,187.26 ATRL 123.50
-41.96 -21.63 -14.88 -9.52 -6.11
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA NML DGKC BAFL JSCL
12.83 62.38 31.05 10.02 13.18
32.85 16.39 14.34 11.32 11.05
Active Issues Plus Minus Unchanged
220 125 17
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Sep 10) 4,190 Urea Offtake (Sep 10) 324 Urea Price (Rs/50 kg) 851 DAP Offtake (Jan to Sep 09) 680 DAP Offtake (Sep 10) 226 DAP Price (Rs/50 kg) 2,628
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Oct 10) 26,842 Sales (July 10 to Oct 10) 25,279 Production (Octy 10) 7,311 Sales (Oct 10) 7,459
INDUS MOTOR CO Production (July 10 to Oct 10) 17,013 Sales (July 10 to Oct 10) 16,622 Production (Octy 10) 4,827 Sales (Oct 10) 4,830
HONDA ATLAS CAR Production (July 10 to Oct 10) Sales (July 10 to Oct 10) Production (Octy 10) Sales (Oct 10)
5,481 5,172 1,514 1,340
DEWAN FAROOQ MOTORS Production (July 10 to Oct 10) Sales (July 10 to Oct 10) Production (Octy 10) Sales (Oct 10)
186 70 0 18
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Nov 6,10) Advances (Nov 6,10) Investments (Nov 6,10) Spread (Sep 10)
4,729,932 3,011,868 1,897,426 7.57%
OIL MARKETING CO (000 tons) MS (Jul 10 to Oct 10) MS (Oct 10) Kerosene (Jul 10 to Oct 10) Kerosene (Oct 10) JP (Jul 10 to Oct 10) JP (Oct 10) HSD (Jul 10 to Oct 10) HSD (Oct 10) LDO (Jul 10 to Oct 10)) LDO (Oct 10) Fuel Oil (Jul 10 to Oct 10) Fuel Oil (Oct 10) Others (Jul 10 to Oct 10) Others (Oct 10)
PRICES (Ex-Refinery) MS (1 Nov 10) MS (1 Oct 10) MS % Chg Kerosene (1 Nov 10) Kerosene (1 Oct 10) Kerosene % Chg JP-1 (1 Nov 10) JP-1 (1 Oct 10) JP-1 % Chg HSD (1 Nov 10) HSD (1 Oct 10) HSD % Chg LDO (1 Nov 10) LDO (1 Oct 10) LDO % Chg Fuel Oil (1 Nov 10) Fuel Oil (1 Oct 10)
744 198 53 15 452 122 2,182 664 22 6 3,086 854 3 1
Rs 44.53 40.71 9.38% 51.25 47.31 8.33% 51.48 47.54 8.29% 54.24 50.38 7.66% 49.51 46.13 7.33% 42,046 39,276
Mostly mixed; Thai turnover falls ahead of long weekend
KSE benchmark index sustains 11,400pts level Nawaz Ali KARACHI: Heavy buying by the foreign investors allowed the bulls to extend their stay at the Karachi Stock Exchange on Friday which ended higher above 11,400 levels with significant improvement in investors' participation. The benchmark KSE-100 index increased by 63 points to close at 11,406 points while KSE-30 index gained 74 points to close at 10,993 points and
KSE all-share index ended 47 points up at 7,935 points. "Bullish activity continued with record volumes witnessed in scrips across the board led by banking and oil sector scrips on strong foreign interest record earnings outlook", said Ahsan Mehanti, Director Arif Habib Investments. According to NCCPL data, offshore investors did a net buying of $10.45 million on Friday which totaled to a net buying of $20.78 million dur-
HK, Shanghai shares decline on policy woes HONG KONG/SHANGHAI: Hong Kong shares retreated on Friday, as lingering worries that China may take more steps to cool inflation prompted investors to dump banks and coal firms, while Shanghai stocks ended flat. Dealers said investors were cautious because China often announces major policy measures at the end of the work week. Many investors expect another increase in banks' required reserve ratios and a rate rise by the end of the year. "This is a typical Friday sentiment. The market has been worrying about an interest rate hike in China, particularly on Fridays. People are not willing to chase shares higher," said Steven Leung, sales director at UOB Kay Hian. The Hang Seng Index finished the session down 0.6 per cent at 23,320.52. The benchmark index rose 1.9 per cent this week, its first weekly gain in four weeks. The Shanghai Composite Index closed little changed at 2,842.4 points, remaining below the 250-day moving average, now at 2,873 points. For the week, the index was up 1 percent. Next week, the market may post small gains as debt worries in Europe fade, while the U.S. economy continues to show signs of strength with falling jobless claims, improving home sales and rising consumer spending. But lingering concerns about China's efforts to cool inflation
will cap the market's rise. "Both negative and positive factors are dominating the market. These two forces will struggle for the rest of the year," said Danny Yan, who helps manage more than $400 million at Taifook Asset Management. "So the market will move in a range." China will shift to a prudent monetary policy from a moderately loose stance, the Communist Party's top leaders said on Friday, signalling more interest rate rises and lending controls, state media reported on Friday. Digital firm Tontech Technology Investment jumped 7.4 per cent. But banks slipped after a technical rebound in the past session. Industrial and Commercial Bank of China, the biggest drag on the index, fell 0.7 per cent. Market heavyweight Agricultural Bank of China dropped 0.8 per cent. Volume continued to sag on Friday with turnover of Shanghai A shares slipping to 106 billion yuan ($15.92 billion) from 132 billion yuan on Thursday. SOLAR-RELATED COUNTERS SHINE IN HONG KONG Solar-related counters such as Solargiga Energy Holdings Ltd, one of China's top solar wafer and ingot producers, soared 8.5 per cent. GCL Poly Energy Holdings, China's biggest polysilicon maker, gained 2.4 per cent. See # 12 Page 11
ing the first three days of December. Ahsan added that rise in international oil prices over $88 also invited institutional interest throughout the session despite concerns over release of next IMF tranche for Pakistan economic support. Market opened on appositive move and remained vibrant throughout the day. Bulls remained in control in both sessions due to buying mainly in banking, oil, cement and
Askari General will issue right shares Staff Reporter KARACHI: Askari General Insurance Company, one of the non-life insurance companies has decided to issue 25 per cent right shares to enhance capital base and further strengthen financial position. According to a communiquĂŠ sent to Karachi Stock Exchange on Friday, the company has sought permission from the bourse to issue right shares.
GSK-Stiefel merger plan submitted TFD Report
K A R A C H I : GlaxoSmithKline Pakistan (GSK) has submitted the scheme of arrangement to amalgamate Stiefel Laboratories Pakistan, a private limited company. According to details made available to the Karachi Stock Exchange, directors of both the companies believe that the amalgamation will consolidate, expand the business and help in achieving synergy. This will also strengthen management, reduce financial and administrative and optimize overhead expenses as well as enlarge equity and asset base. The board of directors of both the companies had already accorded approval to the merger of Stiefel Pakistan into GSK.
Nikkei hangs onto recent gains TOKYO: Japan's Nikkei share average held onto recent gains on Friday as US retail and housing data raised hopes for a swifter recovery in the world's biggest economy while concerns about Europe's debt crisis eased. Stronger-than-expected November same-store sales from US retailers, a sharp jump in pending home sales, and a better labour market became the latest signs that the US economic recovery is on track and a double-dip recession less likely. Traders also said the European Central Bank was buying Portuguese and Irish debt on Thursday, calming investor panic over euro zone debt for now and offsetting initial disappointment after ECB President Jean-Claude Trichet did not explicitly commit the bank to ramping up bond buying. The Nikkei climbed 1.4 per cent on the week and at one stage on Friday hit a six-month intraday high before succumbing to profit-taking after its divergence above its 25-day moving average a gauge used widely among Japanese traders - climbed into overbought territory. The Nikkei ended flat holding on to its Thursday's gains of almost 2 per cent, adding 0.1 percent or 9.8 points to 10,178.32 in light trade. At one stage it rose as high as 10,254.00. The broader Topix index was 0.2 percent higher at 879.22. Market players said caution set in ahead
of US nonfarm payroll data later in the day and next week's special quotation. But popular stock Fast Retailing lost around 3 per cent after domestic sales at its Uniqlo casual-clothing chain tumbled 14.5 per cent year-onyear in November. It was one of the most actively traded stocks by turnover and the worst performing Nikkei component in percentage terms. FOREIGN FUNDS Market players said foreign funds, the driving force behind the Nikkei's 8 per cent rally in November, are continuing to purchase Japanese equities."Momentum players are increasing their holdings in Japanese stocks, especially global cyclical shares like major exporters thanks to the weaker yen," said Mitsushige Akino, general manager at Ichiyoshi Investment Management. "Buying in November was mostly due to short-covering, but new buying is being seen this month," said Akino adding that funds may look beyond exporters and may start aggressively adding financial stocks if the Nikkei rises to near 11,000. The US government's monthly employment report on Friday is forecast to show another month of job gains in both the private and public sectors. In a Reuters poll, nonfarm payrolls are seen up 140,000 in November, while private payrolls are seen up 153,000. Reuters
textile stocks. The index at a point touched an intra-day high of 11,436 points (+ve 92 points). However pressure witnessed in the refinery stocks as the government decision of slashing margins reduced their earnings. Though index gains saw some decline due to profit taking at higher levels but market managed to sustain 10,400 levels till end of the day. Volumes witnessed a significant improvement as 202 million shares were traded during
the day which was 67.3 million shares more as compared to a turnover of 134.7 million shares recorded a day earlier. Lotte Pakistan remained the top most traded scrip with 32.85 million shares exchanging hands followed by Nishat Mills with 16.39 million shares and D. G. Khan Cement with 14.34 million shares. Out of total 362 active issues; 220 advanced and 125 declined while 17 issues remained unchanged.
FTSE slips as US jobless rate hits 7-month high LONDON: Data showing sluggish employment growth in the United States crimped the return of risk appetite, denting banks and energy stocks and ending a sharp two-day rally in Britain's top shares. The FTSE-100 ended Friday down 0.4 per cent at 5,745.32 after it gained more than 4 per cent across Wednesday and Thursday as investors grew more confident a debt crisis in the euro zone could be averted. US employment barely grew in November and the jobless rate unexpectedly hit a sevenmonth high, disappointing many who had expected to see signs of strengthening recovery. Risk-sensitive banks gave back some of the strong gains of the previous two sessions, with Standard Chartered off 2 per cent. However, overall sentiment remained relatively upbeat. "Ultimately the market is pro-equity at the moment," said Tim Rees, fund manager at Insight Investments. "The equity market in most of the developed world is not on demanding valuations, and that is providing support." The European Central Bank maintained its buying of euro zone government bonds in modest amounts to reverse a debilitating rise in peripheral countries' borrowing costs,
helping soothe markets. Domestic data also pointed to economic weakness as the rate of growth in the British service sector dipped in November, as expected, though remaining near October's four-month high. PRECIOUS SUPPORT Precious metals miners were among the top gainers on the FTSE, as gold rose back above $1,390 an ounce, close to its strongest in three weeks. Gold producer Fresnillo added 4 per cent while Johnson Matthey added 3.2 per cent, the platinum processor helped by an increase in target price and estimates from Liberum Capital, which kept a "buy" rating on the stock. Man Group fell 3.3 per cent, the heaviest faller, after Numis Securities cut its rating for the hedge fund firm to "reduce" from "hold" in an otherwise fairly neutral review of British asset managers. Energy giant BP was a significant drag on the index, down 1.5 per cent despite strength in the oil price as investors booked profits after two days of strong gains. Stocks seen resistant to harsh economic conditions also provided support to the FTSE, with utility Scottish & Southern Energy and Imperial Tobacco adding 1 per cent. Reuters
US stocks early-trade
Wall St flat as investors shrug off jobs report NEW YORK: Wall Street mostly shrugged off a weakerthan-expected payrolls report on Friday, leaving stocks little changed as the data didn't alter investors' view the economic recovery is on track. US employment barely grew in November and the jobless rate unexpectedly jumped to a seven-month high of 9.8 per cent, the government said. But recent data, including retail sales and other labor reports, have raised optimism the recovery is accelerating after hitting a soft patch in the summer. Separately Friday, a report showed the US services sector grew for an 11th straight month in November, but the government said new US factories orders dropped. "The marketplace understands we never have a recovery that is uneventful, without bumps," said Art Hogan, chief market analyst at Jefferies & Co in Boston. "The pattern of jobs creation has improved. It's moving in the right direction." He said the technology sector may be in focus because if the economy is creating fewer jobs "corporations are buying more technology to remain productive." The Dow Jones industrial average dipped 7.15 points, or 0.06 per cent, to 11,355.26. The Standard & Poor's 500 dropped 2.53 points, or 0.21 per cent, to 1,219.00. The Nasdaq Composite shed 0.61 points, or 0.02 per cent, to 2,578.74. The S&P 500 faced strong technical resistance at about 1,228, near a recent high of more than two years and also the 61.8 per cent Fibonacci retracement of the index's slide from October 2007 to March 2009, a key technical indicator. Support for the benchmark kicks in at 1,200, which was recently a stubborn resistance point, and near 1,195, its 14day moving average. Further limiting the decline in stocks, the euro rose 1 percent against the US dollar. A stronger euro has See # 13 Page 11
Indian shares snap 3-week losing run BANGALORE: Indian shares notched up their first weekly gain in four days, despite closing a choppy Friday session 0.1 per cent lower as investors booked profits following a fourday rally, supported by an upbeat domestic economic outlook. The benchmark index rose 4.3 per cent this week after being battered by a series of scandals, including issuance of telecom licenses at low prices and a bribes-for-loans scam that hurt the banking, real estate and telecom sectors the most. Earlier, a local court ordered all eight executives arrested in the bribes-for-loans investigation into judicial custody until Dec. 16, before it began hearing applications for bail. "The international markets and extension of the bail is weighing on the minds of the investors," said Ambareesh Baliga, vice president of Karvy Stock Broking. Real estate stocks led the decline on the day with top-listed realtor DLF dropping 4.5 per cent and Jaiprakash Associates slipping 4.3 per cent, dragging the sector index 4.3 per cent lower. Banking stocks, which had bounced back on expectations of higher loan demand in the
fast expanding economy, also came off. Leading lenders State Bank of India and ICICI Bank ended down 0.9 percent and 0.7 per cent respectively, while the banking index shed 0.9 per cent. The 30-share BSE index closed down 25.77 points at 19,966.93, with 17 of its components losing ground. The index had risen as much as 0.4 per cent earlier. "Sustaining these levels is going to be difficult considering the holiday season is approaching and the foreign institutional investors could take a break, go into hibernation." The benchmark index is up 14.3 per cent so far this year, bolstered by overseas portfolio investments worth $29.1 billion. A series of positive economic data in the past few days have lifted investor sentiment about the country's growth prospects. A survey showed on Friday business activity in India's services sector surged to a fourmonth high in November, driven by robust growth in new orders. India's manufacturing sector expanded at its fastest pace in six months in November, on a surge in new business and a sharp rise in export orders, another survey released this
week showed. Official data on Tuesday showed India's $1.3-trillion economy expanded at a fasterthan-expected 8.9 per cent annual pace in the September quarter. The services sector, which accounts for more than 50 per cent of GDP, grew 9.8 per cent. Outsourcers bucked the trend as economic data from the United States, their biggest market, pointed to an improving economy with better labour market data, a sharp jump in pending home sales and a stronger-than-expected November same-store sales. Top-ranked Tata Consultancy Services rose 0.3 per cent, while rivals Infosys Technologies added 0.9 percent and Wipro climbed 0.7 per cent. State-run Oil and Natural Gas Corp ended 0.5 per cent higher at 1,320.10 rupees after a government source said the explorer will soon sign a deal for a 25per cent stake in Kazakhstan's Satpayev exploration block. Religare Enterprises rose as much as 4.3 per cent early after it struck a deal to buy a majority stake in US-based Landmark Partners for up to $171.5 million. The shares gave up gains to close 2.7 per cent lower at 489.05 rupees. Reuters
6
Saturday, December 4, 2010
Market Volume
202,076,038
Value
8,045,345,677
Trades
81,506
Paid up Cap(mn)
Advanced Declined Unchanged Total
PE
Open
High
High Low 1,493.05 1,471.67 Total cos Defaulter cos P/BV (x) ROE (%) 3.56 32.54 Low
Close Chg
5.61 322.04
327.00 322.02 323.69
853
6.92 129.61
130.35 123.13 123.50 -6.11
-
11.80
735 16.16 119.66 800 3.94 270.86
Oil & Gas Development 43009 11.24 165.66 Pak Petroleum
Last 60 days High Low
Volume
2009 Div BR (%) (%)
2010 Div BR (%) (%)
374.20
287.99
250
-
300
20
78.51
-
-
-
-
2388957
12.49
10.00
-
-
-
-
120.75 118.71 119.25 -0.41 275.00 264.06 266.00 -4.86
36428 353206
128.90 275.40
106.00 32.17 100B 189.08 125 -
31 200
-
167.35 165.60 166.08
688898
167.35
141.60
55
-
11.68
11.92
0.12
0.42
627629
% Change 0.08 5-Day High 1,476.90 5-Day Low 1,457.31
3342830 137.20
11.99
1.65
Close Change 1,476.90 1.17 Listed cap Market cap 65,194.15 mn 1,155,605.75 mn Payout (%) Div Yield (%) 55.94 5.11
82.5
-
11950
8.23 202.84
205.25 202.02 202.37 -0.47
1047669 214.10
168.70
130
20B
90
20B
Pak Oilfields
2365
6.50 273.17
277.90 273.51 275.19
2.02
2404681 277.90
219.05
180
-
255
-
Pak Refinery Limited P.S.O
350 1715
- 90.83 4.85 285.95
95.00 89.36 92.47 288.50 285.52 286.59
1.64 0.64
117477 95.00 1355159 292.15
48.26 243.55
50
-
80
-
36.78
0.07
9234
40.28
28.05
-
-
-
-
198.87 197.00 197.74
0.90
20327
204.40
182.05
330
-
40
-
Shell Gas LPG
226
Shell Pakistan
685 10.14 196.84
-
36.71
38.30
36.70
Performance of SR Chemicals Index Open 1,291.30 Turnover 49,404,126 P/E (x) 8.06 Company
High Low 1,304.36 1,282.08 Total cos Defaulter cos P/BV (x) ROE (%) 2.82 35.00
PE
Open
High
Low
Agritech Limited 3924 8.47 BOC (Pak) 250 11.70 Clariant Pak 273 6.06 Dawood Hercules XD 1203 7.15 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Engro Corp. LtdSPOT 3277 10.33 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer XD 6785 8.26 Fauji Fert. Bin Qasim 9341 6.65 Gatron Ind 384 2.22 Ghani Gases Ltd 725 8.77 ICI Pakistan 1388 7.78 Lotte Pakistan 15142 4.58 Mandviwala 74 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 10.66 Sitara Peroxide 551 14.43 Wah-Noble 90 6.38
22.29 84.50 156.90 174.45 2.57 7.23 1.97 188.09 13.64 10.00 114.00 35.00 43.00 11.60 138.15 12.59 1.58 1.55 2.43 130.17 13.05 33.15
23.40 85.50 159.89 175.05 2.60 7.34 2.36 189.47 14.44 10.25 114.69 35.46 44.50 11.70 139.70 12.98 1.78 1.61 2.74 130.00 13.59 33.20
21.51 84.05 157.00 165.73 2.50 7.00 1.96 186.40 13.58 9.85 113.80 34.95 40.85 11.50 137.50 12.52 1.32 1.52 2.05 130.00 13.15 33.20
Close Chg 23.37 85.14 158.60 172.46 2.54 7.24 2.23 187.96 14.11 10.18 113.94 35.27 41.30 11.58 138.09 12.83 1.70 1.55 2.44 130.00 13.28 33.20
1.08 0.64 1.70 -1.99 -0.03 0.01 0.26 -0.13 0.47 0.18 -0.06 0.27 -1.70 -0.02 -0.06 0.24 0.12 0.00 0.01 -0.17 0.23 0.05
Close 1,293.61 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 24200 3303 3487 38913 71251 226900 7452251 1142246 2131834 830704 1212535 3359425 2418 17250 451172 32852889 7875 192831 25024 500 258570 500
Change 2.31 Market cap 287,876.68 mn Div Yield (%) 6.05
25.38 87.99 164.89 185.00 2.90 8.27 2.36 189.47 15.20 11.74 114.69 35.46 46.59 13.85 139.99 12.98 2.75 1.72 3.40 139.40 14.69 46.25
% Change 0.18 5-Day High 1,293.61 5-Day Low 1,255.59
2009 Div BR (%) (%)
2010 Div BR (%) (%)
20.26 66.90 90 15 149.72 125 162.00 40 10B 40 1.78 3.20 1.28 168.65 6010B 40R 40 11.61 - 27.5R 9.11 102.96 131.5 10B 95 26.59 40 - 17.5 37.00 20 7.41 116.00 80 55 7.85 5 0.80 1.16 1.80 101.00 75 25 7.67 32.00 50 50
5B -
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,094.37 Turnover 35,626 P/E (x) 5.59 Company
High Low 1,120.54 1,082.58 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 7.47
Close 1,103.63 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.00 6.29
16.39 42.02 40.26
16.79 42.45 41.28
16.15 40.54 40.05
16.49 0.10 41.58 -0.44 40.76 0.50
11155 536 23935
Century Paper Pak Paper Product Security Paper
Change 9.27 Market cap 3,058.49 mn Div Yield (%) 4.52
Last 60 days High Low 21.80 62.85 41.50
15.28 38.61 38.00
% Change 0.85 5-Day High 1,103.63 5-Day Low 1,073.66
2009 Div BR (%) (%)
2010 Div BR (%) (%)
- 425R 20 50 -
25 33.33B 50 -
Paid up Cap(mn)
Company
Open 967.95 Turnover 161,803 P/E (x) 2.64
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind
Pak Int Cont. Terminal PNSC
1092 1321
High Low 985.55 959.14 Total cos Defaulter cos P/BV (x) ROE (%) 0.87 33.10
PE
Open
High
Low
565 3.90 675 555 9.10 1199 10.55
24.71 2.87 14.50 50.61
25.46 2.98 14.78 51.25
24.55 2.73 14.45 50.01
Close Chg 24.98 2.92 14.56 50.66
0.27 0.05 0.06 0.05
Close 972.71 Listed cap 3,596.11 mn Payout (%) 30.91
Change 4.76 Market cap 9,448.26 mn Div Yield (%) 11.72
Last 60 days High Low
Volume 11483 70310 43683 36327
25.98 3.39 16.75 54.00
% Change 0.49 5-Day High 979.00 5-Day Low 967.95
2009 Div BR (%) (%)
23.75 1.65 12.25 44.00
-
30B -
Open 1,012.57 Turnover 22,132,381 P/E (x) 6.79 Paid up Cap(mn)
Al-Abbas Cement Attock Cement Berger Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement
High Low 1,031.85 1,005.19 Total cos Defaulter cos P/BV (x) ROE (%) 0.48 7.10
Low
Close Chg
Volume
Last 60 days High Low
7.15 38.03
71.31 34.54
71.75 35.00
71.50 33.06
71.51 34.99
1601 612
77.77 41.00
Open 1,177.03 Turnover 245,175 P/E (x) 4.13 Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Honda Dewan Motors Exide (PAK) Ghandhara Nissan Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
Volume
Last 60 days High Low
3.15 62.51 19.21 11.21 1.52 1.86 30.11 3.00 4.92 7.20 1.73 8.01 0.62 7.18
3.35 62.70 19.39 11.47 1.60 1.91 31.05 3.38 4.94 7.35 1.80 8.61 0.70 7.23
0.14 -0.26 -0.06 -0.38 -0.09 0.06 0.63 0.38 -0.03 -0.05 0.05 0.67 0.00 0.08
1201 29800 14295 37500 11000 854953 14338744 655 649344 1151 193016 2388 41460 21481
4.20 69.86 20.45 12.75 2.20 2.15 31.50 4.70 5.50 8.20 2.20 8.70 1.48 8.70
2.80 57.60 14.01 9.51 1.30 1.30 23.40 2.11 4.52 4.25 1.70 2.11 0.25 5.50
50 -
20B 20R 10B -
3.01 75.50 2.71 3.72 6.95
3.03 76.46 2.86 4.28 7.11
0.02 0.79 0.01 -0.44 0.08
695431 4763647 219286 2239 254723
3.65 79.98 3.40 8.89 8.58
2.71 67.70 2.51 3.51 6.56
40 9.75 -
-
Open
High
Low
1828 866 6.60 182 956 26.07 982 12.31 3574 3651 129.38 350 4.02 6933 14.97 502 3.83 1760 2319 32 1288 -
3.21 62.96 19.45 11.85 1.69 1.85 30.42 3.00 4.97 7.40 1.75 7.94 0.70 7.15
3.35 63.20 19.80 12.00 1.60 2.15 31.50 3.90 5.03 7.35 1.85 8.70 0.70 7.44
3.01 75.67 2.85 4.72 7.03
3.11 76.73 2.99 5.10 7.15
6.87 1.33 3.15 -
% Change 0.78 5-Day High 1,020.45 5-Day Low 992.46
2009 Div BR (%) (%)
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 -
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 967.66 Turnover 341,614 P/E (x) 2.73 Company Cherat Papersack ECOPACK Ltd Ghani Glass Merit Pack Packages Ltd Siemens Engineering Tri-Pack Films
Paid up Cap(mn)
PE
Open
High
High Low 973.25 954.22 Total cos Defaulter cos P/BV (x) ROE (%) 1.20 43.91 Low
Close Chg
115 2.67 74.70 76.80 74.10 75.06 0.36 230 2.45 2.62 2.40 2.44 -0.01 1067 4.44 49.89 50.00 48.00 48.34 -1.55 47 45.63 17.25 18.25 17.95 18.25 1.00 844 54.87 106.50 107.90 106.99 107.00 0.50 82 10.73 1321.63 1320.00 1296.00 1300.00-21.63 300
8.25 114.05
114.00 112.10 113.16 -0.89
Close 958.01 Listed cap 3,043.31 mn Payout (%) 15.55
Change -9.65 Market cap 35,789.91 mn Div Yield (%) 5.70 2009 Div BR (%) (%)
2010 Div BR (%) (%)
148586 76.80 34.00 154012 3.13 1.70 14269 61.99 45.75 1516 19.00 11.81 650 112.00 98.00 542 1381.00 1068.75
30 32.5 900
10B -
20 25 900
25B 10B -
22039
100
-
-
-
Volume
Last 60 days High Low
% Change -1.00 5-Day High 967.66 5-Day Low 949.56
115.00
94.00
PE
Open
High
Low
71.19 162.50 106.93 1.50 194.87 4.70 11.71 260.15 74.05 19.80
73.00 162.50 107.00 1.60 196.00 4.99 11.90 263.90 74.00 20.25
70.02 160.00 106.05 1.46 186.00 4.50 11.75 257.00 73.00 19.15
Company
Paid up Cap(mn)
PE
Open
AL-Ghazi Tractor Bolan Casting
215 104
Ghandhara Ind KSB Pumps
213 10.10 132 8.38
5.18 216.57 - 44.55
Millat Tractors XB Pak Engineering
366 6.48 494.91 57 809.83 279.95
11.00 70.00
High
Low
Close Chg
219.00 214.90 216.43 -0.14 44.50 44.00 44.00 -0.55 11.29 70.50
10.90 69.00
10.91 -0.09 70.00 0.00
502.68 493.53 495.39 0.48 293.70 275.00 291.54 11.59
20B -
2010 Div BR (%) (%) 40 15
-
Close Chg 70.24 160.68 107.00 1.52 191.20 4.59 11.80 262.42 73.70 20.20
-0.95 -1.82 0.07 0.02 -3.67 -0.11 0.09 2.27 -0.35 0.40
Close 1,179.26 Listed cap 6,768.53 mn Payout (%) 20.42
Volume 4530 2980 255 178986 807 28204 2195 4985 17336 4892
Change 2.24 Market cap 42,698.18 mn Div Yield (%) 4.94
Last 60 days High Low 73.00 187.90 122.51 1.80 198.07 6.09 13.40 282.45 79.50 27.58
63.01 131.00 92.50 1.16 121.10 4.03 9.65 215.99 69.25 17.92
% Change 0.19 5-Day High 1,179.26 5-Day Low 1,169.19
2009 Div BR (%) (%)
2010 Div BR (%) (%)
40 100 80 50 100 5 -
90 100 60 150 10
20B 30B 20B
20B 20B
Open 1,587.52 Turnover 368,936 P/E (x) 35.38 Company
Paid up Cap(mn)
AL-Noor Sugar Ansari Sugar Chashma Sugar Clover Pakistan Dewan Sugar Habib Sugar Ismail Ind J D W Sugar Mehran Sugar Mirpurkhas Sugar Mirza Sugar National Foods Noon Pakistan Noon Sugar Pangrio Sugar Premier Sugar Punjab Oil XD Quice Food Sakrand Sugar Sanghar Sugar Shahmurad Sugar Shak(RCPf)8.5 Perc Shakarganj Mills Thal Industries
186 244 287 94 365 600 505 490 143 70 141 414 48 165 109 38 38 107 223 119 211 346 695 150
High Low 1,611.79 1,560.41 Total cos Defaulter cos P/BV (x) ROE (%) 10.72 30.30
PE
Open
High
Low
5.08 0.30 1.05 11.01 7.00 32.57 2.90 3.77 5.28 0.38 16.14 3.36 0.49 9.35 3.10 0.95 19.06 10.28
50.10 6.39 12.85 64.18 2.50 34.26 70.94 86.05 64.53 64.05 6.00 43.14 24.70 14.43 5.85 48.73 39.33 2.06 2.83 13.70 12.80 4.50 6.20 69.48
51.50 6.25 13.85 67.38 2.74 34.75 73.80 88.00 67.40 64.20 6.40 43.27 25.53 14.45 6.24 51.16 41.29 2.07 3.39 13.99 13.50 3.55 6.49 72.95
50.00 6.25 12.10 67.38 2.50 33.70 72.50 83.25 65.40 62.11 6.01 43.00 23.50 14.00 5.50 47.55 41.29 2.07 2.39 13.20 12.80 3.55 6.06 70.00
Close Chg 50.01 6.25 13.00 67.38 2.69 33.93 72.96 86.65 67.31 63.35 6.10 43.26 23.50 14.25 6.06 50.97 41.29 2.07 2.90 13.29 13.15 3.55 6.32 70.03
-0.09 -0.14 0.15 3.20 0.19 -0.33 2.02 0.60 2.78 -0.70 0.10 0.12 -1.20 -0.18 0.21 2.24 1.96 0.01 0.07 -0.41 0.35 -0.95 0.12 0.55
Close 1,593.94 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 403 500 1405 245 46000 194386 650 1352 30997 3098 9208 109 2216 1591 23507 11041 500 500 4500 16101 12066 101 6270 1117
Change 6.41 Market cap 210,857.77 mn Div Yield (%) 0.86
Last 60 days High Low
2010 Div BR (%) (%)
227.45 51.99
200.00 40.50
400 -
20B
150 25
10B
2025 3323
18.80 88.00
10.55 68.81
35
-
-
-
597.90 324.80
390.00 254.64
450 125
25B -
650 100
25B -
RSI (14-day)
46.73
Total Assets (Rs in mn)
MA (10-day)
5.03
Total Equity (Rs in mn)
MA (100-day)
3.83
Revenue (Rs in mn)
4,722.15
MA (200-day)
4.00
Interest Expense
1st Support
4.00
Profit after Taxation
77.49
2nd Support
3.55
EPS 10 (Rs)
2.934
1st Resistance
4.80
Book value / share (Rs)
15.37
2nd Resistance
5.15
PE 11 E (x)
0.36
Pivot
4.35
PBV (x)
0.29
406.03 4,642.45 259.31
SAIF closed up 0.05 at 4.50. Volume was 2,606 per cent above average (trending) and Bollinger Bands were 10 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 9.3 per cent above 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 moderate flows of volume out of SAIF (mildly bearish). Trend forecasting oscillators are currently bearish on SAIF.
Ravi Textile Mills Limited
Last 60 days High Low 52.00 6.50 15.47 67.38 3.15 36.00 77.70 88.00 67.40 67.00 6.48 57.00 27.30 14.84 6.50 53.81 41.29 3.40 3.50 14.90 13.50 8.00 7.50 81.02
39.25 4.03 8.50 33.33 1.11 26.05 66.25 63.00 48.50 53.64 4.20 39.01 17.51 10.20 4.00 32.50 34.00 1.60 2.11 13.00 8.31 2.36 3.21 61.00
2009 Div BR (%) (%) 40 35 15 40 35 25 50 30 15 10 15 20
25B 30B 10B 25B 10B 10B 25B -
2010 Div BR (%) (%) 15 17.5 110R 0 12.5R 25 10B 15 20B 12 12 15 28R -
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
27.47
Total Assets (Rs in mn)
MA (10-day)
1.51
Total Equity (Rs in mn)
MA (100-day)
2.31
Revenue (Rs in mn)
437.02 75.13 316.78
MA (200-day)
6.48
Interest Expense
1st Support
1.21
Profit after Taxation
0.24
2nd Support
1.15
EPS 09 (Rs)
12.51 0.01
1st Resistance
1.41
Book value / share (Rs)
3.01
2nd Resistance
1.55
PE 10 E (x)
Pivot
1.35
PBV (x)
0.45
RAVT closed down -0.16 at 1.34. Volume was 24 per cent above average and Bollinger Bands were 68 per cent narrower than normal. The company's loss after taxation stood at Rs36.139 million which translates into a Loss Per Share of Rs1.45 for the year ended FY10. RAVT is currently 79.4 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of RAVT (mildly bearish). Trend forecasting oscillators are currently bearish on RAVT. Momentum oscillator is currently indicating that RAVT is currently in an oversold condition.
Atlas Bank Limited
HOUSEHOLD GOODS Performance of SR Household Goods Index Open 1,082.58 Turnover 33,555 P/E (x) 2.42 Company
High Low 1,087.07 1,079.34 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 10.64
Close 1,084.12 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
1174 231
3.44 1.93
13.78 16.15
13.98 16.30
13.51 16.00
13.66 -0.12 16.12 -0.03
289979 33550
Pak Elektron Tariq Glass Ind
Change 1.55 Market cap 5,076.58 mn Div Yield (%) 2.59
Last 60 days High Low 15.43 18.80
12.82 14.50
2009 Div BR (%) (%) -
10B -
% Change 0.14 5-Day High 1,100.42 5-Day Low 1,082.58 2010 Div BR (%) (%) 17.5
10B -
PERSONAL GOODS Performance of SR Personal Goods Index Open 979.10 Turnover 27,665,929 P/E (x) 6.65 Paid up Cap(mn)
AL-Qadir Textile XD Amtex Limited XD Artistic Denim Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Chakwal Spinning Chenab Limited Chenab Ltd Pref Colony Mills Ltd Crescent Fibres Ltd Crescent Textile D S Ind Ltd Dar-es-Salaam Dawood Lawrencepur Ellcot Spinning Fazal Cloth Ghazi Fabrics Gul Ahmed Textile Gulistan Textile Gulshan Spinning Hajra Textile Hira Textile Mills Ltd. Ibrahim Fibres ICC Textile Ideal Spinning J K Spinning Janana D Mal Khalid Siraj Kohinoor Ind Kohinoor Mills Kohinoor Spinning Kohinoor Textile Mehmood Textile Mohd Farooq Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Ravi Textile Reliance Weaving Rupali Poly Saif Textile Salfi Textile Salman Noman Sana Ind Sargoda Spinning Saritow Spinning Service Ind Shadab Textile Suraj Cotton Tata Textile Thal Limited Treet Corp Zephyr Textile Ltd Zil Limited
76 2415 840 133 4493 33 76 76 400 1150 800 2442 124 492 600 80 514 110 188 326 635 190 222 138 716 3105 100 99 184 43 107 303 509 1300 1455 150 189 145 1596 3516 560 174 250 308 341 264 33 42 55 312 133 120 30 180 173 307 418 594 53
PE
Open
4.65 10.50 4.70 5.72 21.03 0.37 2.30 - 11.27 0.44 11.73 0.45 13.18 5.34 625.34 0.50 1.29 3.30 1.72 3.83 2.39 0.60 12.01 3.76 20.40 1.90 3.40 45.32 39.51 0.62 20.09 0.92 46.70 0.78 4.10 3.57 24.00 1.70 26.93 0.92 7.38 0.50 0.75 3.90 2.99 38.52 0.89 0.35 3.85 0.89 4.95 0.24 13.40 0.60 1.53 2.49 0.35 0.96 3.95 5.74 0.70 57.00 1.09 0.40 1.90 22.87 5.35 61.98 2.41 6.75 0.76 9.65 1.50 0.60 9.00 4.44 36.40 0.36 4.45 0.25 52.76 0.98 2.97 2.89 37.52 0.42 2.18 0.44 2.64 9.34 259.74 0.40 14.60 0.79 35.99 0.33 33.00 4.40 103.76 9.41 57.94 4.87 3.81 3.51 53.00
% Change 0.44 5-Day High 1,555.48 5-Day Low 1,539.82
2009 Div BR (%) (%)
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
% Change 0.40 5-Day High 1,593.94 5-Day Low 1,571.52
High
High Low 992.52 971.61 Total cos Defaulter cos P/BV (x) ROE (%) 0.58 8.64 Low
Close Chg
5.65 4.05 4.05 -0.60 4.73 4.55 4.62 -0.08 21.00 20.60 20.60 -0.43 2.85 2.15 2.65 0.35 11.59 11.28 11.38 0.11 10.73 10.73 10.73 -1.00 13.60 12.76 12.78 -0.40 649.00 623.00 643.71 18.37 1.99 1.10 1.15 -0.14 3.36 3.02 3.14 -0.16 2.15 2.10 2.10 0.38 2.70 2.26 2.45 0.06 13.00 11.17 12.99 0.98 20.10 19.55 19.55 -0.85 2.04 1.91 1.93 0.03 4.38 2.63 2.63 -0.77 41.00 38.00 38.52 -0.99 20.90 20.45 20.50 0.41 49.03 48.00 48.98 2.28 4.75 4.75 4.75 0.65 24.88 24.50 24.88 0.88 28.27 26.50 28.26 1.33 7.55 7.55 7.55 0.17 0.50 0.50 0.50 0.00 4.00 3.95 4.00 0.10 38.00 38.00 38.00 -0.52 1.19 1.00 1.01 0.12 4.65 3.70 4.15 0.30 5.95 4.16 5.85 0.90 14.40 14.39 14.40 1.00 0.80 0.75 0.75 0.15 1.69 1.47 1.61 0.08 3.17 2.15 3.17 0.68 1.41 0.56 0.97 0.01 5.85 5.53 5.53 -0.21 57.00 57.00 57.00 0.00 1.19 1.00 1.00 -0.09 0.44 0.37 0.39 -0.01 23.49 22.81 22.93 0.06 63.18 61.80 62.38 0.40 7.20 6.99 7.12 0.37 10.60 9.10 10.43 0.78 1.49 1.29 1.34 -0.16 9.10 8.52 8.61 -0.39 36.30 35.25 35.37 -1.03 4.70 3.90 4.50 0.05 55.39 52.00 55.04 2.28 2.32 2.31 2.32 -0.65 38.69 38.00 38.00 0.48 2.20 2.00 2.15 -0.03 2.69 2.68 2.68 0.04 272.72 263.15 272.72 12.98 14.84 13.60 14.09 -0.51 35.10 35.05 35.05 -0.94 34.65 33.00 33.90 0.90 105.52 102.75 102.97 -0.79 60.50 57.80 59.10 1.16 4.25 3.70 3.70 -0.11 52.50 51.50 52.50 -0.50
Close 980.94 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 1.84 Market cap 128,820.11 mn Div Yield (%) 2.51
Last 60 days High Low
203 7.75 412251 18.67 2200 24.05 5004 3.45 5154339 12.32 1100 18.75 3971 14.50 2462 747.48 4160 2.59 40183 3.95 501 2.61 102684 3.33 3904 18.35 1001 23.90 111103 2.37 1023 4.50 13763 44.50 21751 25.45 4883 56.90 200 5.00 20645 25.96 336375 28.27 101 10.30 1545 0.99 436330 4.88 900 40.41 6501 1.85 60600 4.79 2806 9.90 1999 20.50 5001 1.20 1479 1.94 145 3.79 8428 2.00 10317 6.30 5587 68.80 1100 1.64 5094 0.95 3126566 25.14 16385642 63.18 9263 7.48 71045 11.25 532415 2.38 103 12.00 805 37.25 401240 6.85 1350 55.39 525 3.11 20011 39.39 19501 2.50 1101 2.99 32097 272.72 2100 14.84 31301 37.50 812 35.50 30402 112.80 205575 60.50 1089 4.90 1054 55.00
2.50 4.40 18.00 1.35 9.02 9.50 7.50 436.00 0.56 3.00 1.21 2.26 8.41 17.89 1.44 1.75 36.10 17.21 41.00 1.13 19.99 17.57 5.51 0.13 3.35 34.05 0.30 2.02 4.05 9.95 0.25 1.01 1.52 0.16 4.51 51.46 0.35 0.16 15.66 42.55 5.16 6.00 1.29 8.01 31.25 2.01 20.50 1.30 27.50 0.50 1.10 169.00 7.56 29.00 15.00 86.50 37.20 1.50 33.00
2009 Div BR (%) (%)
% Change 0.19 5-Day High 980.94 5-Day Low 964.36 2010 Div BR (%) (%)
10 30 20 20 7.5 20 120 5 10 15 5 7.5 35 -100SD 10 5 - 12.5 - 10B 10 - 10B 10 10 20 20 5 4050.2257B 60 - 50R 15 20 25 12.5 - 10B 10 - 25SD 40 40 25 35 60 5 200 10 15 50 25 20 20B 80 40 10B 35
15B 20B 5B 45R 10B 5B 20B -
Performance of SR Pharma and Bio Tech Index
Change 6.74 Market cap 32,593.42 mn Div Yield (%) 15.92
5859 2402
160773 126
30
% Change 0.48 5-Day High 736.32 5-Day Low 728.57
PHARMA AND BIO TECH
Close 1,555.48 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
60.05 33.06
Saif Textile Mills Limited
FOOD PRODUCERS
Performance of SR Industrial Engineering Index High Low 1,576.80 1,541.06 Total cos Defaulter cos P/BV (x) ROE (%) 3.14 38.02
High Low 1,191.26 1,162.25 Total cos Defaulter cos P/BV (x) ROE (%) 1.05 25.35
144 5.32 101 4.80 626 7.75 890 56 4.52 450 3.19 1428 786 5.99 823 11.74 150 3.77
INDUSTRIAL ENGINEERING Open 1,548.75 Turnover 174,535 P/E (x) 8.26
0.20 0.45
2009 Div BR (%) (%)
Alert ! Unusual Movements
Performance of SR Food Producers Index
Company
Change 7.88 Market cap 73,681.70 mn Div Yield (%) 2.80
Close Chg
PE
13126 3234 5261 541 2228
Close 1,020.45 Listed cap 54,792.74 mn Payout (%) 19.04
Change 3.49 Market cap 12,680.19 mn Div Yield (%) 2.02
High
20B
Performance of SR Construction and Materials Index
Close 732.06 Listed cap 3,242.17 mn Payout (%) 11.08
Performance of SR Automobile and Parts Index
2010 Div BR (%) (%) 30 40
High Low 734.03 723.90 Total cos Defaulter cos P/BV (x) ROE (%) 1.40 25.53
AUTOMOBILE AND PARTS
CONSTRUCTION AND MATERIALS
Company
18,142.48 18,223.37 18,108.00 h6.12
Open
INDUSTRIAL METALS AND MINING
Company
Current High Low Change
10,993.62 11,027.88 10,919.44 h74.18
PE
Performance of SR Industrial Metals and Mining Index
Paid up Cap(mn)
Current High Low Change
Open 728.57 Turnover 2,213 P/E (x) 5.47
Company
CHEMICALS
Paid up Cap(mn)
7,935.97 7,951.66 7,888.07 h47.90
INDUSTRIAL TRANSPORTATION
691
Mari Gas Company National Refinery
Current High Low Change
KMI 30 Index
Performance of SR Industrial Transportation Index
Attock Refinery
3921
11,406.66 11,436.40 11,343.55 h63.11
KSE 30 Index
OIL AND GAS
Attock Petroleum BYCO Petroleum
Current High Low Change
220 125 17 362
All Share Index
Performance of SR Oil and Gas Index Open 1,475.73 Turnover 10,003,538 P/E (x) 10.94 Company
KSE 100 Index
Symbols
Open 905.79 Turnover 55,083 P/E (x) 7.11 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) Otsuka Pak Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 100 96 306
PE
Open
8.77 100.96 6.35 85.30 13.49 74.81 7.30 26.40 7.59 34.30 10.42 132.85 5.51 61.20
High
High Low 914.84 898.06 Total cos Defaulter cos P/BV (x) ROE (%) 1.59 22.31 Low
Close Chg
101.50 99.99 100.04 -0.92 85.00 83.60 84.01 -1.29 75.50 74.50 75.02 0.21 26.40 25.52 26.37 -0.03 34.10 34.00 34.00 -0.30 138.95 128.20 130.97 -1.88 61.50 61.00 61.25 0.05
Close 906.07 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 23644 5560 7025 2100 600 2001 14090
Change 0.27 Market cap 30,216.36 mn Div Yield (%) 6.27
Last 60 days High Low 104.00 124.00 76.00 26.98 35.00 139.50 64.50
78.50 82.20 65.00 22.60 27.50 115.90 57.05
2009 Div BR (%) (%) 120 10 50 25 15 70 15
20B 15B
% Change 0.03 5-Day High 906.07 5-Day Low 886.35 2010 Div BR (%) (%) 20 30
20B -a
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
47.19
Total Assets (Rs in mn)
30,869.51
MA (10-day)
1.61
Total Equity (Rs in mn)
2,482.06
MA (100-day)
1.92
Revenue (Rs in mn)
3,387.93
MA (200-day)
2.29
Interest Expense
1st Support
1.51
Loss after Taxation
2nd Support
1.43
EPS 09 (Rs)
3,189.33
1st Resistance
1.68
Book value / share (Rs)
2nd Resistance
1.77
PE 10 E (x)
Pivot
1.60
PBV (x)
(1,703.11) (3.405) 4.96 0.33
ATBL closed down -0.01 at 1.64. Volume was 29 per cent below average and Bollinger Bands were 56 per cent narrower than normal. The company's loss after taxation stood at Rs1.316 billion which translates into a Loss Per Share of Rs2.63 for the nine months of current calendar year (9MCY10). ATBL is currently 28.6 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of ATBL (bearish). Trend forecasting oscillators are currently bearish on ATBL.
Hira Textile Mills Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
49.57
Total Assets (Rs in mn)
3,356.84
MA (10-day)
3.94
Total Equity (Rs in mn)
1,312.24
MA (100-day)
3.96
Revenue (Rs in mn)
3,116.91
MA (200-day)
3.94
Interest Expense
263.53
1st Support
4.00
Profit after Taxation
248.83
2nd Support
3.95
EPS 10 (Rs)
3.478
1st Resistance
4.05
Book value / share (Rs)
18.34
2nd Resistance
4.05
PE 11 E (x)
0.75
Pivot
4.00
PBV (x)
0.22
HIRAT closed up 0.10 at 4.00. Volume was 181 per cent above average (trending) and Bollinger Bands were 73 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 1.5 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into HIRAT (bullish). Trend forecasting oscillators are currently bearish on HIRAT.
BOOK CLOSURES Company
From
To
Dawood Hercules Chemicals
7-Dec
13-Dec
20(ii)
29Nov
-
Pakistan Premier Fund
7-Dec
14-Dec
D/B/R -
-
Spot AGM/Date 14-Dec
Engro Corporation (Standalone)
7-Dec
21-Dec
20(ii)
29-Nov
-
Fauji Fertilizer Bin Qasim
14-Dec
20-Dec
12.50(iii)
06Dec
-
Oil and Gas Development Co
14-Dec
21-Dec
15(i)
06Dec
-
Mirpurkhas Sugar Mills
16-Dec
30-Dec
15.20(B)
-
Siemens Pakistan
20-Dec
29-Dec
600
8-Dec
29Dec
JS Investment #
21-Dec
27-Dec
-
-
27Dec
30Dec
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Johnson & Philips Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Lakson Tobacco Shifa Int.Hospitals P.I.A.C.(A) AKD Capital XD Pace (Pak) Ltd. Netsol Technologies
Open 8.02 54.98 4.19 79.99 1 94.78 331.21 28.26 2.21 52.03 2.83 19.27
High 8.1 57.72 4.35 81 1.06 99.51 339.9 29.5 2.25 53.94 2.96 19.5
Low Close 7.32 52.24 4.16 78.01 1.05 91 316 27.1 2.18 50.3 2.81 19.15
8.05 52.39 4.21 79.64 1.05 92.95 316.33 28.5 2.2 51.07 2.89 19.21
Change 0.03 -2.59 0.02 -0.35 0.05 -1.83 -14.88 0.24 -0.01 -0.96 0.06 -0.06
Vol 1002 542 2390363 6004 2500 2159 629 508 129841 395 603983 181757
7
Saturday, December 4, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,151.95 Turnover 3,547,682 P/E (x) 6.28 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard XD WorldCall Tele Wateen Telecom Ltd
High Low 1,170.59 1,145.75 Total cos Defaulter cos P/BV (x) ROE (%) 0.81 12.84
PE
Open
High
Low
Close Chg
78 4.94 37740 13.16 3000 0.67 8606 6175 -
79.71 19.61 2.28 2.60 3.50
80.00 19.85 2.35 2.78 3.60
79.99 19.51 2.25 2.58 3.50
80.00 19.74 2.26 2.62 3.52
0.29 0.13 -0.02 0.02 0.02
Close 1,158.93 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 1400 2770799 70688 704795 505682
Change 6.99 Market cap 80,232.23 mn Div Yield (%) 9.97
117.99 20.12 2.69 2.98 4.50
78.00 17.55 1.80 2.31 3.35
% Change 0.61 5-Day High 1,158.93 5-Day Low 1,128.56
2009 Div BR (%) (%) 70 15 -
-
2010 Div BR (%) (%) 80 17.5 1 -
Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance PICIC Ins Ltd Premier Insurance Silver Star Insurance
369 5.96 279 6.83 457 7.08 1250 400 3.07 718 16.88 791 15.77 3000 42.13 350 303 5.68 253 4.35
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC XR Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Southern Electric Tri-star Power XD
PE
Open
High
Low
198 11572 6.67 1560 7932 1695 10.48 126 2.92 8803 4.82 3673 3.29 3541 25.44 1367 150 -
0.83 36.49 1.85 2.33 18.90 4.79 39.65 14.79 15.60 2.17 1.07
1.04 36.71 1.98 2.40 19.25 4.79 39.85 15.38 16.08 2.24 1.16
0.81 36.35 1.71 2.30 18.85 4.26 39.60 14.90 15.57 2.15 1.00
Close 1,241.80 Listed cap 95,369.29 mn Payout (%) 104.13
Change 2.68 Market cap 101,262.46 mn Div Yield (%) 7.69
Close Chg
Volume
Last 60 days High Low
0.81 36.41 1.84 2.34 18.87 4.79 39.69 14.99 15.77 2.18 1.07
25805 2172083 89860 377787 10326 1231 202085 4674484 8279000 381975 41401
1.45 37.05 2.25 2.50 26.50 6.10 42.95 15.38 16.10 2.90 1.75
-0.02 -0.08 -0.01 0.01 -0.03 0.00 0.04 0.20 0.17 0.01 0.00
0.51 32.75 1.20 1.94 17.95 4.09 38.35 9.80 9.75 2.05 0.33
% Change 0.22 5-Day High 1,241.80 5-Day Low 1,235.80
2009 Div BR (%) (%) 33.5 45 64.5 3
31R -
2010 Div BR (%) (%) 50 - 7.8R 15 50 -
37.20 60.10 11.33 45.30 12.50 91.00 56.00 16.25 6.52 10.10 7.00
37.50 60.10 11.33 46.17 12.90 91.00 58.50 16.43 6.97 10.50 7.00
0.50 -2.40 -0.05 0.33 0.40 0.59 0.60 0.04 0.15 0.49 0.00
4400 542 1100 11774 2644 200 3700 548203 201 17030 502
37.89 64.80 12.00 48.63 12.90 92.89 60.50 17.20 8.30 10.50 8.17
27.10 47.37 9.42 34.76 10.04 68.01 52.21 12.50 1.66 8.00 6.00
Open 963.51 Turnover 5,125 P/E (x) 98.51
High Low 968.17 960.89 Total cos Defaulter cos P/BV (x) ROE (%) 3.79 3.85
Close 962.53 Listed cap 2,290.72 mn Payout (%) 355.53
Open 1,625.54 Turnover 4,058,175 P/E (x) 9.91 Company Sui North Gas XD Sui South Gas
High Low 1,628.59 1,544.77 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 11.41
Close 1,560.23 Listed cap 12,202.80 mn Payout (%) 66.79
Change -65.31 Market cap 33,366.57 mn Div Yield (%) 6.74
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.13 3.30
28.53 22.77
28.24 23.00
27.11 21.64
27.32 -1.21 21.89 -0.88
3095112 963063
34.75 30.70
25.55 19.60
% Change -4.02 5-Day High 1,637.30 5-Day Low 1,560.23
2009 Div BR (%) (%) -
-
2010 Div BR (%) (%) 20 15
25B
Open 1,068.52 Turnover 41,632,255 P/E (x) 7.74 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.07 61.94 Askari Bank 6427 8.02 16.10 Atlas Bank 5001 1.65 Bank Alfalah 13492 12.85 9.57 Bank AL-Habib 7322 7.33 34.00 Bank Of Khyber 5004 5.69 4.15 Bank Of Punjab 5288 9.55 BankIslami Pak 5280 850.00 3.27 Faysal Bank XB 7309 4.73 14.19 Habib Bank Ltd 10019 7.08 108.03 Habib Metropolitan Bank 8732 7.65 24.24 JS Bank Ltd 6128 2.70 KASB Bank Ltd 9509 2.66 MCB Bank Ltd XD 7602 9.22 205.44 Meezan Bank 6983 8.34 15.50 Mybank Ltd 5304 2.29 National Bank 13455 5.98 67.19 NIB Bank 40437 2.85 Royal Bank Ltd 17180 4.91 Samba Bank 14335 1.79 Silkbank Ltd 26716 2.70 Soneri Bank 6023 7.19 Stand Chart Bank 38716 12.31 7.92 Summit Bank Ltd 5000 3.23 United Bank Ltd 12242 7.28 60.48
High
High Low Close 1,101.24 1,062.77 1,089.29 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.08 13.94 40.49 Low
Close Chg
63.00 61.31 62.42 0.48 17.10 15.96 16.85 0.75 1.69 1.52 1.64 -0.01 10.15 9.55 10.02 0.45 34.48 34.00 34.01 0.01 4.33 3.85 4.27 0.12 9.93 9.52 9.72 0.17 3.45 3.31 3.40 0.13 14.75 14.06 14.66 0.47 113.43 108.07 113.42 5.39 25.35 24.80 25.01 0.77 2.75 2.60 2.61 -0.09 2.75 2.54 2.74 0.08 210.49 203.50 208.07 2.63 15.80 15.10 15.76 0.26 2.60 2.30 2.40 0.11 68.85 66.99 68.49 1.30 2.97 2.86 2.95 0.10 4.98 4.85 4.98 0.07 1.86 1.72 1.80 0.01 2.79 2.68 2.71 0.01 7.38 7.08 7.24 0.05 8.80 7.80 8.00 0.08 3.68 3.13 3.48 0.25 62.23 60.50 61.96 1.48
Last 60 days High Low
Volume 421300 4393752 190943 11316740 496419 29005 2540591 166246 788822 949966 87841 165505 15089 2484041 54730 212648 10745853 710587 15123 209053 447038 28695 10670 223575 5151597
Change 20.76 Market cap 664,447.18 mn Div Yield (%) 5.23
63.00 17.10 2.55 10.19 34.49 4.70 10.59 3.88 17.10 113.43 26.74 3.00 2.90 210.49 16.32 2.75 70.75 3.18 8.18 2.65 3.08 8.00 8.80 3.80 62.23
48.51 14.05 1.50 7.65 29.10 2.50 7.56 2.70 12.85 92.55 18.02 2.00 2.03 182.61 14.05 1.66 61.50 2.46 3.91 1.51 2.50 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
% Change 1.94 5-Day High 1,089.29 5-Day Low 1,051.80
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 755.96 Turnover 1,439,903 P/E (x) 12.44 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 23.82
Open 81.95
High 83.30
High Low 766.82 751.68 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20 Low 81.90
Close Chg 82.18 0.23
Close 760.08 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 849589
Change 4.12 Market cap 47,183.37 mn Div Yield (%) 6.39
Last 60 days High Low 84.45
63.05
2009 Div BR (%) (%) 30
10B
% Change 0.55 5-Day High 760.08 5-Day Low 746.44 2010 Div BR (%) (%) 10
-
UPTO 100 VOLUME
10B 20B -
Symbols
East West Life
455
-
3.62
4.62
3.00
3.00 -0.62
501
4.62
2.05
10R
-
20R
EFU Life Assurance
850 47.38
83.36
83.75
83.00
83.39 0.03
2114
86.95
51.25
5513.33B
-
-
New Jub Life Insurance
627 32.13
47.83
47.87
47.87
47.87 0.04
2510
49.14
39.68
10
-
-
Open
High
Low
Close Chg
Last 60 days High Low
Volume
2009 Div BR (%) (%) -
2010 Div BR (%) (%)
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 428.77 Turnover 12,489,071 P/E (x) 10.19 Paid up Cap(mn)
Company
High Low 448.55 429.42 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 0.91
PE
Open
High
Low
Close Chg
Close 441.03 Listed cap 30,336.44 mn Payout (%) 99.56
Change 12.26 Market cap 30,510.95 mn Div Yield (%) 3.09
Last 60 days High Low
Volume
% Change 2.86 5-Day High 441.03 5-Day Low 428.77
2009 Div BR (%) (%)
2010 Div BR (%) (%)
AMZ Ventures Arif Habib Investments
225 360
1.32 3.45
0.55 18.00
0.63 18.39
0.53 17.40
0.58 0.03 17.54 -0.46
32044 9098
1.10 19.98
0.42 13.00
-
-
-
20B
Arif Habib Limited
450 13.51
26.04
26.60
26.15
26.48 0.44
38169
34.00
24.40
15
25B
-
20B
2411093 10001
27.02 2.70
20.90 1.51
-
-
30 -
-
-
-
-
-
Arif Habib Corp Dawood Equities Grays Leasing IGI Investment Bank
3750 250
4.73 -
25.36 2.00
25.92 2.23
25.45 2.00
25.72 0.36 2.00 0.00
215
-
1.39
1.90
0.60
1.61 0.22
508
2.90
0.18
2121 16.56
2.63
2.90
2.60
2.65 0.02
344811
2.90
1.17
-
-
-
-
Invest Bank
2849
-
0.60
0.81
0.60
0.65 0.05
59110
1.00
0.44
-
-
-
-
Ist Cap Securities
3166
-
3.50
3.59
3.46
3.50 0.00
32586
4.80
2.54
-
10B
-
10B
Ist Dawood Bank Jah Siddiq Co JOV and CO
626 7633 508
0.68 -
1.92 12.50 4.21
2.14 13.35 4.40
1.82 12.58 4.10
1.90 -0.02 13.18 0.68 4.18 -0.03
10262 11052726 112809
2.84 14.05 5.38
1.31 8.80 1.96
-243.778B 10 -
-
500
4351
8.11
30.00
30.50
30.00
30.17 0.17
40.00
24.25
150
-
-
-
JS Investment
1000 29.29
6.88
7.15
6.90
7.03 0.15
384078
7.59
5.10
-
-
-
-
KASB Securities
-
-
1000
-
4.54
4.59
4.10
4.41 -0.13
12705
4.70
3.20
-
-
Orix Leasing
821
4.78
6.66
7.10
6.50
6.50 -0.16
11248
7.29
4.50
-
-
-
-
Pervez Ahmed Sec
775
-
2.23
2.50
2.23
2.32 0.09
374143
2.70
1.35
-231.08R
-
-
Saudi Pak Leasing
452
-
0.52
0.65
0.53
0.57 0.05
137
0.86
0.42
-
-
-
-
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,195.13 Turnover 1,982,338 P/E (x) 19.11
High Low 1,212.98 1,176.08 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 2.21
Close 1,192.96 Listed cap 29,771.58 mn Payout (%) 104.74
Change -2.17 Market cap 17,450.83 mn Div Yield (%) 8.51
PE
1st Fid Leasing
264
8.50
1.53
1.69
1.35
1.36 -0.17
25452
2.24
1.01
-
-
-
-
Allied Rental
600
3.22
15.50
15.50
15.10
15.20 -0.30
2600
17.00
13.50
15
-
22.5
-
AL-Meezan Mutual F.
1375
5.75
6.95
6.99
6.80
6.90 -0.05
24566
7.20
5.85
-
-
18.5
-
B R R Guardian Mod.
780
Open
High
Low
Close Chg
Last 60 days High Low
% Change -0.18 5-Day High 1,195.13 5-Day Low 1,148.51
Paid up Cap(mn)
Company
Volume
2009 Div BR (%) (%)
Open
SLCL TRIBL SHCM SHJS CJPL FRCL WYETH NESTLE HUSS ULEVER MQTM FNEL DCM PAKMI HINO ISTM FIBLM PKGI RMPL DINT TSML BROT HWQS SCM SCLL AGIC DMTM PAKT NATM GAIL FHBM GUSM COLG UPFL DIIL PHDL CPMFI IFSL FZTM NAGC PRET ALTN STCL FIMM TRSM NMBL GADT IDYM SLYT PRWM SMTM YOUW BHAT HUSI ZAHT AASM LIBM TRPOL BAFS FRSM SMCPL THCCL SEL DWAE TREI ETNL BAPL BUXL ICL PGCL IBLHL GRAYS
% Change -0.10 5-Day High 963.51 5-Day Low 935.87
PE
2010 Div BR (%) (%) 20 - 20B - 66R 55 -63.46R 10 -
10 10 -
Paid up Cap(mn)
Company
JS Global Cap
BANKS Performance of SR Banks Index
10B 25B 8.7B 20B 15B 20B
Change -0.98 Market cap 11,082.21 mn Div Yield (%) 3.61
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index
40 20 40 35 35 30 30 20 -
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,254.18 1,237.54 Total cos Defaulter cos P/BV (x) ROE (%) 1.27 9.35
37.50 62.50 11.47 46.65 12.90 91.00 58.50 16.58 6.99 10.50 7.66
LIFE INSURANCE
-
ELECTRICITY Open 1,239.12 Turnover 16,256,040 P/E (x) 13.54
37.00 62.50 11.38 45.84 12.50 90.41 57.90 16.39 6.82 10.01 7.00
2010 Div BR (%) (%)
High
2.49 1.61 10.90 91.12 0.78 2.25 958.46 2196.78 10.00 4109.60 6.80 8.13 1.50 1.00 139.00 5.98 2.70 7.08 1879.33 25.92 34.00 0.35 19.75 8.78 2.31 11.01 5.00 117.62 8.10 4.56 6.89 6.16 893.96 1065.00 10.85 34.01 4.44 6.99 390.29 16.49 28.50 9.10 8.85 51.50 1.57 1.45 47.99 266.00 3.99 13.97 6.30 1.50 249.79 9.70 3.30 25.50 56.50 1.00 58.90 20.10 5.81 18.50 18.51 0.78 1.97 21.50 8.83 9.60 28.60 20.36 8.19 51.54
2.90 1.70 9.90 95.60 0.80 2.23 1006.37 2259.00 11.00 4124.99 7.80 9.00 1.59 1.15 141.95 6.49 3.69 7.00 1972.00 26.49 34.00 0.98 20.75 8.85 2.99 11.45 5.98 119.90 7.10 4.79 6.98 7.10 852.00 1113.00 11.83 33.00 5.44 7.90 408.99 17.00 29.00 10.10 8.60 54.00 1.50 1.50 47.99 274.95 3.82 14.95 5.75 1.50 262.25 10.69 3.98 24.61 58.60 0.60 61.84 20.50 5.99 19.40 18.51 0.78 2.20 22.00 8.80 9.25 28.75 20.70 8.65 54.11
Low
Close
2.90 1.70 9.90 95.25 0.63 1.51 951.00 2150.00 9.00 4005.00 7.00 8.15 1.15 1.15 139.01 6.49 2.01 6.11 1860.00 26.49 34.00 0.56 18.90 8.85 2.60 11.45 4.25 119.90 7.10 4.29 6.67 6.51 852.00 1100.00 9.91 32.50 4.75 7.89 404.99 17.00 29.00 10.10 8.25 54.00 1.50 1.50 47.99 274.95 3.82 14.50 5.75 1.50 262.25 10.64 3.98 24.50 58.60 0.60 61.84 20.50 5.99 19.40 18.51 0.78 2.20 22.00 8.80 9.25 28.75 20.70 8.65 54.11
2.90 1.70 9.90 95.60 0.80 2.18 1006.25 2187.26 11.00 4105.00 7.78 8.98 1.55 1.15 139.01 6.49 3.53 6.90 1972.00 26.49 34.00 0.58 20.75 8.85 2.60 11.45 4.25 119.90 7.10 4.29 6.83 6.51 852.00 1104.33 11.19 33.00 5.10 7.90 408.99 17.00 29.00 10.10 8.43 54.00 1.50 1.50 47.99 274.95 3.82 14.50 5.75 1.50 262.25 10.64 3.98 24.61 58.60 0.60 61.84 20.50 5.99 19.40 18.51 0.78 2.20 22.00 8.80 9.25 28.75 20.70 8.65 54.11
Change
Vol
0.41 0.09 -1.00 4.48 0.02 -0.07 47.79 -9.52 1.00 -4.60 0.98 0.85 0.05 0.15 0.01 0.51 0.83 -0.18 92.67 0.57 0.00 0.23 1.00 0.07 0.29 0.44 -0.75 2.28 -1.00 -0.27 -0.06 0.35 -41.96 39.33 0.34 -1.01 0.66 0.91 18.70 0.51 0.50 1.00 -0.42 2.50 -0.07 0.05 0.00 8.95 -0.17 0.53 -0.55 0.00 12.46 0.94 0.68 -0.89 2.10 -0.40 2.94 0.40 0.18 0.90 0.00 0.00 0.23 0.50 -0.03 -0.35 0.15 0.34 0.46 2.57
100 100 100 88 78 63 62 61 53 48 47 39 39 30 26 20 16 13 11 10 8 7 7 5 5 5 5 5 4 4 3 3 3 3 3 3 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
Open
High
Low
Close
NML-DEC
62.06
63.74
62.30
62.72
0.66 3070000
DGKC-DEC
30.52
31.50
30.20
31.09
Change 0.57
Vol
275.22
278.50
275.00
834000
3.89
1.79
1.87
1.70
1.71 -0.08
84531
2.37
0.90
-
-
0
-
POL-DEC
276.96
1.74
628000
65
3.32
1.64
1.89
1.12
1.46 -0.18
5378
2.99
0.90
-
-
-
-
NBP-DEC
67.83
69.49
67.60
69.06
1.23
625500
Crescent St Modaraba
200
1.75
0.59
0.70
0.49
0.70 0.11
61063
1.10
0.25
-
-
1.2
-
MCB-DEC
206.12
210.50
205.51
208.20
2.08
219500
Elite Cap Modaraba
113
3.59
2.79
2.90
2.79
2.87 0.08
361000
3.09
1.65
4.5
-
5
-
ANL-DEC
204000
Equity Modaraba
524
9.94
1.58
1.99
1.55
1.59 0.01
269458
2.37
0.76
-
-
-
First Dawood Mutual F.
581
0.64
2.02
2.20
2.01
2.03 0.01
35020
2.24
1.30
-
-
Golden Arrow
760
2.16
3.03
3.13
2.90
3.02 -0.01
61230
3.88
2.32
-
Habib Modaraba
1008
5.70
6.65
6.64
6.60
6.61 -0.04
7001
6.74
5.66
JS Growth Fund
3180 54.88
4.53
4.50
4.25
4.39 -0.14
150768
4.55
JS Value Fund
1186 16.00
4.48
4.70
4.41
4.48 0.00
246777
4.73
Meezan Balanced Fund
1200
Constellation Modaraba
Mod Al-Mali
11.68
11.41
11.45
0.06
188.80
186.16
187.47
-0.46
-
PSO-DEC
288.02
290.20
287.25
288.99
0.97
132000
-
-
FFBL-DEC
34.16
34.68
34.20
34.34
0.18
104000
-
17
-
LUCK-DEC
76.43
77.40
76.00
77.05
0.62
57500
20
-
21
-
52000
2.65
-
-
5
2.31
10
-
203000
AICL-DEC
82.62
84.00
82.75
82.86
0.24
PPL-DEC
203.61
205.25
202.72
203.01
-0.60
45000
-
PTC-DEC
19.75
19.90
18.75
19.88
0.13
43000
10
-
NCL-DEC
22.95
23.90
23.35
23.60
0.65
13000
BOP-DEC
9.68
10.00
0.32
13000
UBL-DEC
60.65
62.15
61.00
61.51
0.86
11000
OGDC-DEC 164.20
164.98
164.11
164.36
0.16
2500 0.00
6.06
6.15
6.30
6.00
6.30 0.15
37901
6.69
5.15
-
-
15.5
-
184 10.30
1.09
1.18
1.00
1.03 -0.06
13781
2.18
0.56
-
-
-
-
5.08
3.00
3.29
3.23
3.25 0.25
38119
3.70
2.25
5
-
15
-
1698 12.21
8.76
8.84
8.75
8.79 0.03
48152
9.39
7.00
-
-
18.6
NAMCO Balanced Fund 1000 Pak Prem Fund
11.39
ENGRO-DEC 187.93
10.30
9.80
AICL-CFEB
85.22
0.00
0.00
85.41
0.19
-
AKBL-CFEB
16.74
0.00
0.00
17.51
0.77
0.00
PICIC Energy Fund XD 1000
1.83
6.02
6.38
6.05
6.29 0.27
121916
6.38
4.20
-
-
10
-
ANL-CFEB
11.72
0.00
0.00
11.83
0.11
0.00
PICIC Growth Fund
7.04
10.98
11.13
10.90
10.99 0.01
80870
11.20
7.90
-
-
20
-
ATRL-CFEB 134.78
0.00
0.00
128.35
-6.43
0.00
BAFL-CFEB
9.95
0.00
0.00
10.41
0.46
0.00
Symbols
Open
BAWS
2.50
PICIC Inv Fund
2835 2841
5.94
5.41
5.48
5.20
5.23 -0.18
64469
5.48
3.50
Prud Modaraba 1st
872
2.05
0.96
0.98
0.90
0.90 -0.06
96553
1.20
0.76
-
-
3
Punjab Modaraba XD
340
-
1.50
1.95
1.70
1.70 0.20
5002
2.54
0.50
-
-
10 1
-
U D L Modaraba XD
264
1.64
5.65
5.79
5.75
5.79 0.14
140673
6.99
4.71
10
-
12.5
-
ZERO VOLUME
-
High
Low
Close
2.55
2.55
2.55
Change
Vol
0.05
0.00
BOARD MEETINGS
Nishat Mills Ltd
KSE 100 INDEX
Bank Al-Falah Ltd
Dera Ghazi Khan Cement Co Ltd
Company
Date
Time
ICC Textiles Ltd JS Investment Ltd Mehran Sugar Mills Byco Petroleum Limited Hala Enterprises Ltd Sigma Leasing Corporation Ltd Fauji Fertiliser Bin Qasim Ltd
4-Dec 6-Dec 7-Dec 7-Dec 8-Dec 8-Dec 23-Dec
11:00 10:30 11:00 1:00 10:30 11:00 10:30
TECHNICAL LEVELS Company Al-Abbas Cement
Technical Outlook Technical Analysis RSI (14-day)
Leverage Position
79.00
MA (5-day)
Brokerage House
Support 1
11,274.04
11,354.70
Support 2
*Arif Habib Ltd AKD Securities Ltd
11,218.23
Resistance 1
11,447.55
MA (100-day)
10,298.95
Resistance 2
11,488.40
10,139.28
Pivot
major 1st resistance level at 11,447.55 and 2nd resistance level at
Rs Recommendations
reflect very strong flows of volume into INDEX (bullish). Trend forecasting
Brokerage House
Fair Value
*Arif Habib Ltd
Rs Recommendations
84
AKD Securities Ltd
61.96
TFD Research
92.3
Brokerage House
Buy
*Arif Habib Ltd
Neutral
AKD Securities Ltd TFD Research
Positive
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
61.97 66.74 66.09 70.04
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
56.82 78.44
318.37 21,804.95 71.29 67.88
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
75.24 59.49 55.58 56.98
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
182.55 5,668.17 37.09 30.77
* Target price for Dec-10 & **Net Open Interest in future market
Brokerage House
Accumulate
AKD Securities Ltd TFD Research
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
81.60
81.05
83.00
83.85
82.45
Buy
Askari Bank
68.98
16.20
15.50
17.30
17.80
16.65
Azgard Nine
55.67
11.25
11.10
11.55
11.75
11.40
Attock Petroleum
55.92
321.50
319.25
326.45 329.20 324.25
Attock Refinery
57.49
120.95
118.45
128.20 132.90 125.65
Bank Al-Falah
64.29
9.65
9.30
10.25
BankIslami Pak
55.24
3.35
3.25
3.45
3.55
3.40
Bank.Of.Punjab
56.95
9.50
9.30
9.90
10.15
9.70
Dewan Cement
65.00
1.80
1.70
2.10
2.25
1.95
D.G.K.Cement
69.11
30.30
29.50
31.65
32.30
30.90
Dewan Salman
70.61
2.00
1.80
2.40
2.60
Dost Steels Ltd
Fair Value
64.29 9.68 8.99 9.96
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
2.65
3.05
3.15
2.90
44.70
46.80
47.40
46.05
BAFL closed up 0.45 at 10.02. Volume was 454 per cent above average
EFU Life Assurance
66.13
83.00
82.65
83.75
84.15
83.40
Engro Chemical
67.44
186.40
184.85
Faysal Bank
48.20
14.25
13.80
BAFL is currently 0.6 per cent above its 200-day moving average and is
Fauji Cement
47.71
4.90
4.85
5.00
5.05
4.95
displaying a downward trend. Volatility is extremely low when compared to
Fauji Fert Bin
77.49
35.00
34.70
35.50
35.75
35.25
the average volatility over the last 10 trading sessions. Volume indicators
Fauji Fertilizer
68.66
113.60
113.25
reflect moderate flows of volume into BAFL (mildly bullish). Trend forecast-
Habib Bank Ltd
76.98
109.85
106.30
Hub Power
66.04
36.25
36.15
ICI Pakistan
69.49
137.15
136.25
139.35 140.65 138.45
Indus Motors
63.02
258.30
254.20
265.20 268.00 261.10
(trending) and Bollinger Bands were 56 per cent narrower than normal.
ing oscillators are currently bearish on BAFL.
Askari Bank Ltd
Rs Recommendations
Brokerage House
105.2
Buy
AKD Securities Ltd TFD Research
Neutral
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value 22
23.67
129.35 9,890.10 24.26 76.09
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
68.98 16.20 15.38 17.36
(trending) and Bollinger Bands were 9 per cent wider than normal.
reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-
(trending) and Bollinger Bands were 0.01 per cent wider than normal. UBL is currently 8.7 per cent above its 200-day moving average and is dis- LUCK is currently 8.0 per cent above its 200-day moving average and is playing an upward trend. Volatility is low as compared to the average displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect modvolatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into UBL (mildly bullish). Trend forecasting oscillators are currently bullish on UBL. Momentum oscillator is currently indicating erate flows of volume into LUCK (mildly bullish). Trend forecasting oscilla-
ing oscillators are currently bullish on NBP.
that UBL is currently in an overbought condition.
NBP is currently 1.9 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators
tors are currently bullish on LUCK.
15.20
14.50
114.50 115.05 114.15 115.20 117.00 111.65 36.65
36.85
36.50
J.O.V.and CO
56.54
4.05
3.95
4.35
4.55
4.25
Japan Power
65.15
1.70
1.55
1.95
2.10
1.85
JS Bank Ltd
45.89
2.55
2.50
2.70
2.80
2.65
44.21
12.75
12.25
13.50
13.80
13.05
47.61
39.55
39.45
39.80
39.95
39.70
K.E.S.C
62.73
2.30
2.25
2.40
2.45
2.35
Lotte Pakistan
77.62
12.60
12.30
13.05
13.25
12.80
Lucky Cement
58.62
75.75
75.00
76.95
77.45
76.25
MCB Bank Ltd
60.47
204.20
200.35
Maple Leaf Cement
46.07
2.70
2.55
3.00
3.15
2.85
National Bank
61.97
67.35
66.25
69.25
69.95
68.10
Nishat (Chunian)
54.30
22.65
22.40
23.35
23.75
23.10
Netsol Technologies
53.07
19.10
18.95
19.45
19.65
19.30
NIB Bank
58.76
2.90
2.80
3.00
3.05
Nimir Ind.Chemical
55.02
1.50
1.45
1.60
1.65
1.55
Neutral
Nishat Mills
75.72
61.70
61.05
63.10
63.85
62.45
Positive
Oil & Gas Dev. XD
72.95
165.35
164.60
Rs Recommendations
PACE (Pakistan) Ltd.
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
321.37 5,415.12 N/A 16.50
* Target price for Dec-10 & **Net Open Interest in future market
NBP closed up 1.30 at 68.49. Volume was 292 per cent above average UBL closed up 1.48 at 61.96. Volume was 441 per cent above average LUCK closed up 0.79 at 76.46. Volume was 234 per cent above average AKBL closed up 0.75 at 16.85. Volume was 822 per cent above average (trending) and Bollinger Bands were 45 per cent narrower than normal.
14.90
Kot Addu Power
Buy
14.75
189.50 191.00 187.95
Jah Siddiq Co
Technical Outlook
Leverage Position
2.20
2.80 45.45
*Arif Habib Ltd
58.62 75.32 70.32 70.81
674.58 6,759.27 N/A 9.82
9.90
56.65
Buy
Technical Analysis
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
10.50
EFU General Insurance 58.33
97
72.75
Leverage Position
* Target price for Dec-10 & **Net Open Interest in future market
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
63.50
Technical Outlook
Leverage Position
69.11 29.03 26.44 26.84
*Arif Habib Ltd
306.04 18,962.54 2.20 61.29
26.40
Adamjee Insurance
Positive
Buy
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
26.85
14.01
Technical Analysis
13
Lucky Cement Ltd
Leverage Position
26.65
TFD Research
tors are currently bullish on DGKC.
Positive
25.95
Positive
Technical Outlook
Rs Recommendations
79
26.20
36.85
Technical Outlook
Technical Outlook Technical Analysis
Fair Value
48.54
TFD Research
United Bank Ltd
National Bank of Pakistan
25.70
Arif Habib Limited
Rs Recommendations
Accumulate
NML is currently in an overbought condition.
age and is displaying an upward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators
62.80
26.15
10.25
ly indicating that INDEX is currently in an overbought condition.
KSE 100 INDEX is currently 12.5 per cent above its 200-day moving aver-
62.25
63.50
25.95
AKD Securities Ltd
oscillators are currently bullish on INDEX. Momentum oscillator is current-
and 2nd support level at 11,302.70.
63.95
63.10
25.25
Buy
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
63.15
62.10
25.50
43.29
Positive
Free Float Shares (mn) 175.80 Free Float Rs (mn) 10,966.40 ** NOI Rs (mn) 217.46 Mean 62.34
60.55
62.40
56.42
AKD Securities Ltd
Buy
Leverage Position
Fair Value
61.50
50.03
Arif Habib Corp
*Arif Habib Ltd
NML closed up 0.40 at 62.38. Volume was 354 per cent above average DGKC closed up 0.63 at 31.05. Volume was 266 per cent above average (trending) and Bollinger Bands were 51 per cent wider than normal. (trending) and Bollinger Bands were 1 per cent narrower than normal. NML is currently 22.7 per cent above its 200-day moving average and is DGKC is currently 15.7 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very volatility over the last 10 trading sessions. Volume indicators reflect modstrong flows of volume into NML (bullish). Trend forecasting oscillators are currently bullish on NML. Momentum oscillator is currently indicating that erate flows of volume into DGKC (mildly bullish). Trend forecasting oscilla-
11,488.40, while Index will continue to find its 1st support level at 11,354.70
Brokerage House
79.33
Attock Cement
Buy
59.97
75.72 58.75 49.52 50.84
Fair Value
1st 2nd Pivot Resistance 3.40 3.50 3.30
Allied Bank Limited
42
*Arif Habib Ltd
Technical Analysis
11,395.55
than normal. As far as resistance level is concern, the market will see
Brokerage House
Buy
74.2
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 63.11 points at 11,406.66. Volume was 153 per MA (100-day) cent above average (trending) and Bollinger Bands were 12 per cent wider MA (200-day) MA (200-day)
Rs Recommendations
65
TFD Research
11,302.70
MA (10-day)
Fair Value
RSI 1st 2nd (14-day) Support 58.38 3.20 3.10
51.31
2.80
2.75
211.20 214.35 207.35
2.95
167.10 168.10 166.35 2.95
3.05
2.90
Pervez Ahmed Sec
57.33
2.20
2.10
2.45
2.60
2.35
P.I.A.C.(A)
45.54
2.15
2.10
2.25
2.30
2.20
Pioneer Cement
41.63
7.00
6.85
7.20
7.25
7.05
Pak Oilfields
69.23
273.15
271.15
277.55 279.90 275.55
Pak Petroleum
63.42
201.15
200.00
204.40 206.45 203.20
Pak Suzuki
47.01
73.15
72.55
P.S.O. XD
59.67
285.25
283.90
P.T.C.L.A
59.20
19.55
19.35
74.15
74.55
73.55
288.20 289.85 286.85 19.90
20.05
19.70
Shell Pakistan
52.64
196.85
196.00
(trending) and Bollinger Bands were 18 per cent narrower than normal.
Sui North Gas
31.14
26.90
26.45
28.00
28.70
27.55
AKBL is currently 2.9 per cent below its 200-day moving average and is
Sitara Peroxide
56.52
13.10
12.90
13.55
13.80
13.35
Sui South Gas
36.38
21.35
20.80
22.70
23.55
22.20
Telecard
46.85
2.25
2.20
2.35
2.40
the average volatility over the last 10 trading sessions. Volume indicators
TRG Pakistan
51.53
4.15
4.05
4.30
4.45
4.25
reflect very strong flows of volume into AKBL (bullish). Trend forecasting
United Bank Ltd
75.24
60.90
59.85
62.60
63.30
61.55
oscillators are currently bullish on AKBL.
WorldCall Tele
51.28
2.55
2.45
2.75
2.85
2.65
displaying an upward trend. Volatility is relatively normal as compared to
198.75 199.75 197.85
2.30
8
Saturday, December 4, 2010
Oscar-winner Reese gets Hollywood star
Break Ke Baad opens badly
T
he shock under which the industry was reeling due to the failure of GUZAARISH, got compounded this week when BREAK KE BAAD took a dull initial. On the whole, Break Ke Baad is entertaining break (interval) ke pehle but not half as entertaining, break ke baad. Given its reasonable cost (less than Rs. 30 crore) on the one hand and its impressive recoveries from non-theatrical revenue streams on the other, it should prove to be just about an earning proposition in spite of a weak start. Break Ke Baad, starring Imran Khan and Deepika Padukone and directed by debut-making directoe Danish Aslam, released on 26-11-’10. Publicity: good. Opening was weak at most places. Among Friday’s other releases, Allah Ke Banday has proved to be a non-starter and will go largely unnoticed mainly because it has nothing new to offer. The Sharman Joshi, Nasseruddin Shah and Faruk Kabir starrer received a luke warm response on Friday. Publicity: average. Opening was poor in Bombay and dull everywhere. Except for a bit of titillation
value, Barbara Mori’s Spanish Beauty (‘The Beautiful Wife’ in English) doesn’t have much to hold the audience interest. Publicity: alright. Opening dull. K.C. Bokadia’s Khuda Kasam, starring Sunny Deol and Tabu, which also saw a release on November 26th, is a weak fare and will do well only in a few small centres. The film looks dated and stale because of the script. Also, it is a fact that the film had been in the making for many years. Publicity: poor. Opening was weak at most places but fair in mass centres. Tony Scott’s Unstoppable – Tabahi Express (Unstoppable in English), starring Denzel Washigton and Chris Pine, is a fair entertainer, but the climax, which does not live up to the rest of the drama, is a dampener. Publicity: good. Opening was below the mark at most places.
rime Minister Syed Yusuf Raza Gilani inquired after Shamim Ara, a renowned film artiste and producer, at the National Hospital here on Sunday. enowned folk and ghazThe prime minister declared al singer Abida Parveen Shamim Ara an asset to the has undergone angiognation, appreciated her contribution to art and presented her a raphy and angioplasty after suffering from a mild cardiac arrest in Lahore, media reports said on Sunday. The 56-year-old, who lives in Karachi, was visiting Lahore for a performance when she complained of chest pain and was immediately rushed to a cheque of Rs 500,000. He hospital. After performing directed doctors to take special some initial tests, the doctors immediately recommended care of the artiste. On the occasion, husband of angiography and angioplasty Shamim Ara informed the that was done Sunday. "Abida is still under observaprime minister that she had no place to live in after leaving the tion in the intensive-care unit (ICU) of Lahore's premier hospital as her residence had been illegally occupied and Doctors' Hospital". Her close family friend occupants were demanding Rs 50 million to return possession. Najeeb Sultan, talking to Gilani assured her husband media, said that "her condition that he would personally take is now out of danger and interest to ensure justice to her requested the fans to pray for her early recovery." in this regard.
Sarwar, who is treating Abida Parveen, told IANS: "She is recovering well and is likely to be discharged from hospital in four-five days. There is absolutely no danger of her not being able to sing after this operation. She can perform very much like before after recovering completely." Abida Parveen is known for singing Sufi songs and is equally popular in Pakistan and India for her spell-binding renditions and performances. She has performed all over the world during her career spanning more than three decades has also been decorated with president's pride of performance award in Pakistan. Some of her popular songs are "Duma dum mast qalandar", "Tere Ishq nachaya" and "Ho jamalo", the singer croons in various languages Urdu, Sindhi, Seraiki, Punjabi and Persian.
O
scar-winner Reese Witherspoon has been saluted with a star on Hollywood Boulevard. The "Walk the Line" actress unveiled her Hollywood Walk of Fame honor on Wednesday outside the W Hollywood Hotel. It's the 2,425th star dedicated on the celebrated avenue. The ceremony was designed to coincide with the Dec. 17 release of Witherspoon's latest movie, "How Do You Know," co-starring Paul Rudd and Owen Wilson, and written and directed by James L. Brooks. In 2006, Witherspoon won the best-actress Academy Award for her portrayal of June Carter Cash in "Walk the Line." Her credits also include "Pleasantville," "Cruel Intentions," "Sweet Home Alabama" and "Legally Blonde."
PM inquires Shamim Ara’s health, gives Rs0.5mn
P
MUMBAI: Bollywood actress and Sony Ericsson brand ambassador Kareena Kapoor attends the Sony Ericsson Contest winner event at India's 'Shopper Stop' store.-Reuters
Kareena not finalised by Sanjay Leela Bhansali yet
Katrina, Deepika in Housefull ‘2’ B
ollywood Hot and Beauty now act in same frame Deepika and Katrina to act in Housefull 2 the latest gossips in the town. This news is popular due to Ranbir Kapoor talk in the air that Bollywood actress Deepika Padukone and Katrina Kaif who were not on talking terms as Ranbir Kapoor showed a soft corner for Katrina has now patched up. Sources have stated that Deepika and Katrina will be seen together in “Housefull 2”. For the sequel of “Housefull”, Sajid Khan has try to roped in actors such as Katrina Kaif, Paresh Rawal, John Abraham and Nana Patekar to join the original cast Akshay Kumar, Riteish Deshmukh, Arjun Rampal and Deepika Padukone. Director Sajid Khan stated that the film is still in the
scripting stage and that it is just John Abraham, Akshay Kumar and Riteish Deshmukh who have been finalized for the film. So wait and watch another great films with Akshay Kumar , Now these days the market of Akshay Kumar is not going good so he need a super films. Meanwhile, There were recent reports that Sanjay Leela Bhansali has signed Kareena Kapoor for his next film, Bajirao Mastani. However, the reports are far
from being true. A close hand to Sanjay Leela Bhansali reveals, "Sanjay Leela Bhansali hasn't signed Kareena. He is still on the scripting stage. He has still not thought about the cast." It can be recalled that Sanjay Leela Bhansali wanted to cast Salman Khan and Aishwarya Rai Bachchan for Bajirao Mastani but had to shelve the project in 2003 after their break-up. Let's wait and watch who does Bhansali cast this time around.
MUMBAI: Indian Bollywood actress Neha Dhupia poses at a press conference for the forthcoming Hindi film Phanse Gaye re Obama' in Mumbai.-Reuters
A
Abida recovering after cardiac arrest
R
Karan Johar to launch Mahesh Bhatt daughter lia Bhatt, youngest daughter of the prominent director-producer Mahesh Bhatt and Soni Razdaan is all set to mark her dream debut in Bollywood with a Karan Johar film. Also, the movie will star two other newcomers, David Dhawan's son, Varun and Sidharth Malhotra and will be co-produced by Shahrukh Khan. Initially, Karan was to only produce the film, but he has now decided to direct the film as well. In fact, this will be the first time that Karan himself will be directing a film with all newcomers. Rumor has it that the talented 17-year-old starkid will soon enter Bollywood with Karan Johar's yet untitled love-triangle, opposite Varun Dhawan. Karan to launch Alia Bhatt? While Mahesh Bhatt's elder daughter with Razdaan, Shaheen chose writing as her career, Alia had been wanting to act since two years and her father's production company, Vishesh Films had been waiting for a suitable project to launch her. A source close to the unit revealed, “But Bhatt’s production house ,Vishesh Films, kept her under wraps and she was hardly seen at Bollywood functions. “After signing Varun and Sidharth, Karan was looking for a third promising newcomer, until he found talent in Alia and called her for auditions.” “The couple’s chemistry was unbeatable. Alia was also auditioned with Siddharth because Karan is making this film with a love triangle.” Interestingly, Varun and Sidharth have earlier assisted Karan in 'My Name Is Khan'. Although no formal announcements have been made till now, sources reveal that SRK too might do a cameo in the film. Given it's a Karan Johar movie, and King Khan his lucky mascot, lets see if the movie recreates the magic of 'Kuch Kuch Hota Hai'. When contacted, daddy Mahesh Bhatt said, “This is something that only the production houses concerned can answer. I cannot trespass into their domain. As far as I am concerned, Alia is still studying.”
Old World Style T
he “Old World” Style of Decorating is one that brings all of the elements of nature into play. Metals, clay, stone, wood, and countless other elements combine to create an atmosphere that is as charming as it is ageless. This is what old-world means in a modern kitchen. Despite the idea that this would be an inexpensive method of decorating the truth is that this style of decorating for a kitchen, probably more so than any other room in the home, can add up fairly quickly. The good news is that the results are typically breath taking when all is said and done. The kitchen of a home is often the family center. This is the room in which meals are prepared and sometimes eaten. It is also the room where families congregate and discuss plans for the evening and the events of the day. It is often the location in which homework is completed and heartaches are commiserated with pints of ice cream. Your kitchen is the one room in the home that will probably experience more emotional moments than any other room in your home. For
this reason it makes perfect sense that it would be the most expensively and extensively decorated room within your home. When beginning with the walls for an old-world kitchen you may want to consider plaster or some soft of faux finish that looks like plaster in order to give the walls of your kitchen a truly ancient appearance. Aged yellows and shades of gold are an excellent choice for these walls as it will blend nicely with the terra cotta and stone accents that should grace the remainder of the kitchen as well as the darkly stained woods. Of course the walls are just the beginning. You will want to insure that
the lighting doesn’t go against the old world home decorating that you are incorporating by being too modern and bright in appearance. Wrought iron light fixtures and chandeliers as well as low light wall sconces work wonderfully in an oldworld style kitchen. Keep in mind that many of the old style home decorating ideas can spill over into the rest of your home from your kitchen or can be used in order to set your kitchen apart as the warm center of your home. Either way a kitchen such as this will make a stunning impression. Candles may also be used in order to enhance the old world appearance of your kitchen. Of course candles are a great
touch in every room of the house as far as I am concerned. They can be used to create an atmosphere, set a mood, or simply as a method of adding a subtle hint of fragrance to the air. In addition to candles, grapes are another great addition to an old-world style kitchen. From wine to the simple pleasure of grapes straight off the vine these tasty fruits are almost a must in a kitchen of this nature. Wrought iron wine racks large and small are a common addition to most kitchens of this nature. These racks may be used to hold wine as intended or can be used for other creative purposes such as to hold kitchen towels or some other creative means for those who do not drink wine. Pottery and terra cotta are also welcome additions in this type of kitchen. They, much like the plaster, the colors, the wood, and the stone add another degree of warmth to a room that simply exudes warmth and charm to all who enter. Use pottery to hold commonly used utensils, straws, toothpicks, fruits, and vegetables that do not require refrigeration.
9
Saturday, December 4, 2010
Gold jumps above $1,400 after US data US non-farm payrolls for November miss expectations LONDON: Gold jumped above $1,400 an ounce on Friday and was headed for its biggest weekly gain since April after US jobs data cast doubt on the strength of the US economic recovery, sending the dollar tumbling 1 per cent. Spot gold rose to a high of $1,408.35 an ounce and was bid at $1,406.95 an ounce at 1612 GMT against $1,384.75 late in New York on Thursday, on track for its biggest one-day rise since Nov. 4. US gold futures for December delivery climbed $18.90 an ounce to $1,407.4. "(The data) indicates we are not out of the woods yet in terms of what direction the US economy is going to be heading," said Saxo Bank analyst Ole Hansen. "We saw a lift in gold and that probably stems from the continued recovery of the euro against the dollar. The dollar's seen some weakness here after
the number, and that's just given gold the opportunity to test back through the $1,400 level, which has been a bit of a resistance point all week." Meanwhile, a bold plan to slash the US budget deficit fell short of winning support needed from a presidential commission to trigger congressional
action but was expected to help shape future budget debates. Gold is also supported by lingering concerns that the eurozone debt crisis could spread to Spain and Portugal. Spain's Economy Minister Elena Salgado said on Friday Spain would not be the next in line for a rescue package from Europe. On the investment side of the market, the world's largest gold-backed exchange-traded
fund, the SPDR Gold Trust, said its holdings rose to 1,298.447 tonnes by Dec. 2. The world's largest silver ETF, the Shares Silver Trust, said its holdings slipped to 10,778.68 tonnes by Dec 2 from 10,782.69 tonnes on Dec 1. Metals consultancy GFMS forecast silver would average around $30 an ounce in 2011, peaking at $35, while gold would peak at some $1,600-1,650 an ounce, and average $1,400. It expected global platinum market to see a surplus of about 25 tonnes in 2010, which will continue to pressure prices. Silver tracked gold higher, trading up 2.63 per cent at $29.26 an ounce, while platinum rose 1 per cent to $1,724.99. Palladium gained 1.8 per cent to trade at $773.2, just off a fresh 9-year high of $776.22. -Reuters
MUMBAI - INDIA: Farmers jump from a heap of sugarcanes loaded on a tractor outside of a sugar mill at Morinda in the northern Indian state of Punjab. -Reuters
US cotton limit up on speculative buying NEW YORK: US cotton futures shot limit-up Thursday for the second straight session on speculative buying and tight supplies as the market's rally reignited, analysts said. Key March cotton rose its 5cent limit to $1.2634 per lb, with the session low at $1.2234. The market had lost nearly a fifth in value since scaling a record peak of $1.5723 on Nov. 10. Lou Barbera, cotton specialist at brokerage VIP Commodities, said speculative accounts which liquidated when the market corrected lower after hitting record highs last month
were coming back into the mar- Agriculture Department's weekket. ly export sales report showed Investors were particularly total US cotton sales at 636,900 encouraged by the fact that sup- running bales (RBs, 500-lbs plies will be tight in the first each), more than double last quarter of 2011 because a US cotton early-trade large part of the cotton in The benchmark March cotton contract on the US, the world's leading ICE Futures US rose its 6-cent limit to trade exporter, has already been at $1.3234 per lb, and was trading 5.62 cents up at $1.32 at 1426 GMT. sold, he said. Key May futures on the week's sales. Zhengzhou Commodity Volume traded so far though Exchange was last done at was on the light side, with deal26,200 yuan per tonne on ings standing around 13,000 Thursday, up 900 yuan on the lots, around two-thirds below the 30-day average at 36,000 day. The pace of US cotton exports lots, preliminary Thomson remained robust as well. US Reuters data showed. -Reuters
Palm oil gains for 5th day on supply concerns KUALA LUMPUR: Malaysia palm oil futures rose 0.4 per cent on Friday, extending gains for a fifth day, as traders took positions on worries over possible supply shortages and on firmer grain markets. Industry analyst Dorab Mistry, head of Indian-based Godrej International, said Malaysian palm oil futures will hit 3,600 ringgit ($1,141) in December and January on tight global vegetable oil supplies, driven by underperforming palm oil output in top suppliers Indonesia and Malaysia. "The period of greatest tightness will be between February and May 2011 and we need prices to rise now in order to rein in demand and to stimulate plantings," Mistry told an
industry conference on the Indonesian island of Bali. Oil World's Thomas Mielke and LMC Chairman James Fry also said Malaysian palm oil futures are set to rise sharply in the first quarter of 2011 in the three-day conference. The Malaysian crude palm oil contract was up 16 ringgit to 3,516 ringgit ($1,115) a tonne. Overall traded volume rose to 12,897 lots of 25 tonnes each, compared to the usual 10,000 lots. Other vegetable oils were
mixed. US soyoil for December delivery fell 0.1 in Asian trading hours, while the most active Sept. 2011 soyoil contract on China's Dalian Commodity Exchange inched up. China will release a further 100,000 tonnes of rapeseed oil from state reserves on Dec.7, as part of efforts to cool food prices ahead of traditional holidays, according to an official announcement posted on a government grain trading website. Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for December 02 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for December 02 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2210 2220 2180 2190 2135 2145 2135 2145
2325.5 2326 2350 2352 2412 2417 2457 2462
8711 2291.5 8711.5 2292 8670 2313 8670.5 2318 8405 2268 8415 2273 8005 2230 8015 2235
23670 23675 23700 23750 23285 23385 22670 22770
TIN
ZINC NASAAC
25400 2198 25450 2198.5 25400 2207 25450 2207.5 25000 2245 25050 2250 2225 2230
2210 2220 2240 2250 2260 2270 2310 2320
European vegetable oil prices ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 972.00+4.00, May11/Jul11 975.00+4.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 985.00+5.00, May11/Jul11 985.00+3.00, Aug11/Oct11 943.00-2.00, Nov11/Jan12 945.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1415.00+0.00, Apr11/Jun11 1380.00+10.00, Jul11/Sep11 1400.00+10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Dec11/Jan12 1290.00+15.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Dec10 1182.50+10.00, Jan11 1180.00+7.50, Feb11/Mar11 1175.00+10.00, Apr11/Jun11 1155.00+10.00. PALMOIL: RBD dlrs tonne cif Rotterdam Jan11 1207.50, Feb11/Mar11 1200.00. PALMOIL: RBD dlrs tonne fob Malaysia Jan11 1162.50+22.50, Feb11/Mar11 1155.00+25.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Jan11 1172.50, Feb11/Mar11 1165.00, Apr11/Jun11 1145.00+12.50, Jul11/Sep11 1125.00. PALM STEARIN: Dlrs tonne fob Malaysia Dec10 1120.00+5.00, Jan11 1120.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Dec10 1010.00+5.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Dec10/Jan11 1590.00+0.00, Jan11/Feb11 1590.00+0.00, Feb11/Mar11 1590.00+0.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1925.00+0.00. Reuters
Tokyo rubber slips on profit-taking BANGKOK: Tokyo rubber futures edged lower on Friday as investors took profits to avoid risk ahead of the weekend, especially after prices failed to break resistance at 375 yen, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery fell 1.3 yen to settle at 370.4 yen ($4.43) per kg. But the most active Shanghai rubber contract for May delivery rose 665 yuan to settle at 32,365 yuan ($4,860) per tonne. Tokyo rubber futures had risen more than 2 per cent on Thursday, tracking gains in stock markets, with positive global economic data providing additional support. The euro was firm on Friday after talk of bigger bond buying by the European Central Bank, while a surprise jump in US pending home sales boosted risk appetite in general and weighed on the dollar. TOCOM rubber was expected to rise further next week as tight supply on the physical market and firm oil prices should lend further support, dealers said. -Reuters
Copper steady, weak $ supports after US data LONDON: Copper steadied on Friday after weaker-thanexpected US jobs data dented confidence in the demand outlook, but the metal held near record highs, with the dollar's losses after the figures providing some support. Hitting investor confidence, US employment increased far less than expected in November and the jobless rate jumped to a seven-month high of 9.8 per cent, dampening hopes for a self-sustaining economic recovery. Benchmark copper on the London Metal Exchange was untraded at the close but was last quoted at $8,725/8,730 a tonne versus $8,720 at Thursday's close. It hit a session low of $8,646 after the data. The metal, used in power and construction, nonetheless stands close to record highs of $8,966 a tonne hit on Nov 11. Up some 6 per cent on the week at the time LME trading closed, the metal was on track to close out its best weekly gain since July on the exchange's electronic trading system. Upbeat economic reports out of the euro-zone had stoked some confidence in the outlook for base metals demand. Also bolstering prices was a strike at a top copper mine, Chile's Collahuasi, while inventories in general decline could also underpin prices next week -- if the strike continues, said investment bank Fairfax. "Falling inventories and the continued strike at the Collahuasi mine in Chile, may push prices up further next
week," it said. Inventories of four of the six LME metals rose, the most recent exchange data showed, as traders tidy books and deliver metal into LME sheds to reduce cost of holding inventory over the year end.
Shanghai copper ends higher Shanghai copper inventories fell 5 per cent from a week earlier to 116,797 tonnes this week, the Shanghai Futures Exchange said. Shanghai's third-month copper gained 280 yuan to close at 65,480 yuan per tonne, after falling as low as 64,600 yuan earlier. Copper stocks rose by 1,200 tonnes, data showed on Friday, however, stockpiles in LMEbonded warehouses have fallen by over one third since February to at 353,625 tonnes and remain close to the lowest levels in over one year. The premium for cash copper over the three-month benchmark has eased to $55 from almost $63.50 on Thursday. LME aluminium was last quoted at $2,319/2,320 versus $2,355, while nickel -- used mostly by the stainless steel sector -- was at $23,500 against $23,700 a tonne. Lead, which rallied over six per cent on Thursday, was last quoted at $2,338/2,340 from $2,374, while zinc traded at $2,219.5 a tonne, down from the $2,260 close. Tin, used in electrical solder, was at $25,550 versus $25,500 from Thursday. -Reuters
Oil slips from 2-year high on weak US data LONDON: Oil fell from twoyear highs on Friday after closely watched US jobs data missed expectations, while North Sea Brent crude futures held above $90 due to the extreme cold weather covering much of Europe. US crude futures for January fell 17 cents to $87.83 a barrel by 1427 GMT, slipping back from the highest settlement price of $88.00 at Thursday's close. ICE Brent crude futures were trading at $90.61 a barrel, after
briefly touching a fresh two-year high of $91.13 earlier on Friday. US employment barely grew in November and the jobless rate unexpectedly jumped to a sevenmonth high. "That was a very bad number," Thorbjørn Bak Jensen with Global Risk Management in Denmark said. Further pressure on oil prices may come from China. There have been signs that China may tighten its monetary policy further. China will switch to a prudent monetary policy from a moderately loose stance, the Communist Party's top leaders decided on Friday, a change that
Cocoa rises on disputed Ivorian election LONDON: Cocoa prices rose on Friday on political tensions in top grower Ivory Coast while sugar and coffee advanced against a backdrop of supportive fundamentals. Banks were shut and port activity slow in Ivory Coast's economic capital Abidjan on Friday after a bitter dispute over the outcome of the presidential election prompted authorities to shut all international borders. Dealers said cocoa prices had risen sharply as investors who had gone short on the back of favourable crop prospects in West Africa took cover as concerns grew that shipments out of the Ivory Coast were likely to face delays. They noted, however, the advance may have been overdone. March cocoa on Liffe stood 30 pounds higher at 1,953 pounds a tonne at 1543 GMT, building on a 60 pound advance on Thursday as the political situation in Ivory Coast became increasingly tense. March cocoa on ICE rose $49 to $2,917 a tonne. Sugar futures were higher, boosted by tightening supplies with the outlook for crops in several countries diminishing. New York sugar may rise explosively to 30.42 cents as it has come to a critical point indicated by a contracting wedge, and a tiny rise or fall would trigger a big gain or loss, Reuters market analyst Wang Tao said. March raws rose 0.28 cent or 1.0 per cent to 28.73 cents a lb after briefly edging above the key 29.00 level with a session high of 29.05 cents. March whites on Liffe stood $7.80 higher at $735.70 a tonne. Coffee futures also advanced as the market remained underpinnned by tight supplies of quality arabicas. ICE second-month arabica coffee futures were up 2.25 cents or 1.1 per cent at $2.0595 per lb while Liffe secondmonth robustas were up $15 at $1,863 per tonne. -Reuters
could pave the way for more interest rate increases and lending controls, the state Xinhua news agency reported. China and the United States are the world's top two energy consumers. Any slowdown to its economy may dent its immediate energy demand and cap any gains in oil prices. Still, oil is likely to mark a weekly gain this week as a slew of US and Chinese economic data earlier in the week showed MUMBAI: India's spot sugar price extended its losing streak into a fourth straight day on Friday, hit by excessive supplies and as demand remained weak, dealers said. The country has made available 1.5 million tonnes of nonlevy sugar for December, higher than 1.4 million tonnes it had released for November, the upbeat readings. North Sea benchmark ICE government said in a statement Brent crude has risen more on Tuesday. Non-levy, or free-sale, sugar sharply, gaining about 5.8 per cent so far this week, due partly is sold by millers in the open to the Arctic weather freezing market, but the quantity each most parts of Europe and boost- mill can sell is fixed by the feding energy demand in the short eral government on a monthly term. The price structure of Brent basis. "Millers have lowered prices futures has flipped into backwardation, or premiums on the in tenders to sell allocated prompt contract to longer-dated, quota for the month," said which reflects the tightening of Shrikant Karwa, a sugar dealer based in Phaltan, Maharashtra. the immediate fundamentals. In Kolhapur, a key market in The recent gains to the peaks Maharashtra have prompted major banks, JP top-producing Morgan Chase and Goldman state, the most traded S-variety fell by 0.36 per cent to 2,786 Sachs, to place their long-term oil price forecasts above $100 rupees ($61.77) per 100 kg. Reuters this week. -Reuters
Indian sugar extends losses
National Commodity Exchange Ltd Trading Summary Date
3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010 3-Dec-2010
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
JA11 FE11 MA11 JA11 FE11 JA11 FE11 MA11 JA11 FE11 MA11 DE10 JA11 FE11 DE10 JA11 DE10 DE10 MON TUE WED THU FRI MON TUE WED THU FRI 09DE10 DE10 DE10 10-Dec 11-Mar
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
86.74 87.00 87.60 28.43 28.38 1390.00 1389.00 1390.30 1388.30 1390.30 1389.90 38471.00 38237.00 38315.00 38261.00 38272.00 44640.00 44640.00 39338.00 39379.00 39393.00 39406.00 39324.00 45000.00 45266.00 45258.00 45040.00 45202.00 2402.00 3315.00 4822.00 86.53 85.46
88.30 88.58 88.92 28.99 28.72 1398.50 1399.10 1400.50 1388.30 1399.30 1389.90 38471.00 38400.00 38315.00 38261.00 38272.00 44640.00 44640.00 39338.00 39379.00 39393.00 39406.00 39393.00 45218.00 45266.00 45281.00 45297.00 45281.00 2402.00 3315.00 4830.00 86.54 85.93
86.50 86.96 87.60 28.35 28.38 1384.00 1384.30 1386.00 1388.20 1384.10 1388.70 38225.00 38100.00 38302.00 38248.00 38248.00 44624.00 44624.00 39311.00 39352.00 39366.00 39380.00 39324.00 45000.00 45234.00 45250.00 44940.00 45202.00 3287.00 3294.00 4822.00 86.53 85.46
88.15 88.58 88.92 28.71 28.72 1388.20 1388.70 1389.80 1388.20 1388.70 1388.70 38275.00 38287.00 38302.00 38248.00 38248.00 44624.00 44624.00 39311.00 39352.00 39366.00 39380.00 39393.00 45187.00 45234.00 45250.00 45265.00 45281.00 3287.00 3294.00 4830.00 86.54 85.93
Traded Volume in lots 145 39 114 1,348 1,782 786 75 14 8 1 1 17 -
Previous Settlement Price 87.87 88.28 88.59 28.92 28.93 1392.10 1392.70 1393.70 1392.10 1392.70 1393.70 38360.00 38371.00 38386.00 38333.00 38344.00 44724.00 44724.00 39396.00 39438.00 39451.00 39465.00 39479.00 45287.00 45334.00 45350.00 45366.00 45382.00 3300.00 3315.00 4822.00 86.53 85.91
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 88.15 119 88.58 27 88.92 28.71 49 28.72 1388.20 963 1388.70 1,139 1389.80 235 1388.20 1388.70 5 1389.80 38275.00 5 38287.00 26 38302.00 38248.00 38259.00 44624.00 44624.00 39311.00 39352.00 39366.00 39380.00 39393.00 45187.00 40 45234.00 1 45250.00 45265.00 11 45281.00 3287.00 3294.00 4830.00 86.54 85.93 -
A view of the Paris Boat show at Paris’ Porte de Versailles exhibition centre
10
Saturday, December 4, 2010
2010 has been great, says Nadal MADRID: Spain's Rafael Nadal, who won three successive Grand Slam titles this year, that 2010 has been "fantastic". "I think it has been a fantastic year in my life, to have ended at the level that I did is a great satisfaction," he said during an interview with Spanish news radio Cadena Ser. The 24-year-old finished the year firmly atop the world rankings despite losing to Roger Federer in the ATP Tour Championship final in London on Sunday. "I can only congratulate Roger because he was better than everyone, better than me and for that reason he has the trophy at home," he said. Nadal has 12,450 points, 3,305 ahead of Federer, whom he replaced at the top after winning the French Open and Wimbledon during the summer. He went on to win the US Open, while Federer took the year's first Grand Slam title in Australia making him only the seventh man in history to complete a coveted career Grand Slam, winning the world's four main tennis tournaments -- the US, French and Australian Opens and Wimbledon.-Online
Samuel Eto’o loses appeal against 3-game ban MILAN: Inter Milan striker Samuel Eto'o has lost his appeal against a three-match Serie A ban for headbutting but a 30,000 euro ($39,570) fine has been dropped, the Italian soccer federation said in the statement on Thursday. The Cameroonian, top scorer for last season's treble winners this term, headbutted Chievo defender Cesar in the chest during Inter's 2-1 defeat last month in similar fashion to Zinedine Zidane's assault on Marco Materazzi in the 2006 World Cup final. Eto'o has already served the first game of the ban, the 5-2 win over Parma on Sunday, and will miss Friday's game at Lazio and the home game with Napoli on Jan 6. Inter, fifth in Serie A, are at the Club World Cup in the United Arab Emirates from Dec 10.-Reuters
Ronaldo fit to fire vs Valencia MADRID: Real Madrid's Portuguese star Cristiano Ronaldo, who injured an ankle earlier this week, is fit to join the squad that will face Valencia in a league match on Saturday, coach Jose Mourinho said on Friday. "Cristiano Ronaldo is fine... He will play against Valencia," Mourhino told a news conference. Real said on Wednesday that Ronaldo had an inflamed tendon in his right ankle. The 25-year-old striker, the world's most expensive player, took part in Real's humiliating 5-0 pasting by archrivals Barcelona on Monday. The 2008 FIFA World Player of the Year has started all 13 league matches this season as well as all five Champions League matches, and scored a total of 18 goals. Real are in second place in the league with 32 points, two fewer than Barcelona, following their loss to the Catalan side.-Agencies
Anderson makes mark in Australia ADELAIDE: Pace bowler James Anderson finally found his footing on Australian soil with a spellbinding display of pace and movement to put England in charge of the second Ashes test on Friday. After being hit all over the place on the last Ashes tour four years ago, many questioned whether a bowler who relied on swing as much as Anderson does would ever be truly effective on Australian tracks. The 28-year-old partly answered the question with some fiery spells in the first test in Brisbane but on a remarkable first day of the second test in Adelaide, the wickets finally fell and the hosts were skittled out for 245 on a batsman-friendly strip. "I'm a much different bowler to the one who came out here four years ago," the quietlyspoken Lancastrian told reporters after taking 4-51. "I think I'm much more experienced and I've gradually got
better over the last few years, so it's nice to bowl well out here but I didn't think I had anything to prove." Anderson's figures on the Adelaide wicket were impressive enough but the names attached to the first three wickets -- Ricky Ponting, Michael Clarke and Shane Watson -added more lustre to his tally. Ponting and Clarke's dismissal formed part of the magical opening that saw the tourists reduce the Australians to two runs for three wickets in the third over. TONE SET Anderson said it was the runout of Simon Katich by a direct hit from team mate Jonathan Trott on the fourth ball of the day that had set the tone. "I thought it was a fantastic bit of fielding, he kept his composure when he could've panicked and we just took it from there," he added. Anderson said he had tried to put the first test behind him after bowling superbly --
Qamar Zaman renders services for squash ISLAMABAD: Former World Squash Champion Qamar Zaman has said his services will always be there for promotion of squash and training of children who want to play the game. "After seeing huge talent in young players, I have offered my services as a coach without any charges to train junior players playing at Benazir Bhutto Squash Complex," Qamar told APP. Recalling his win at British Open in 1975, he said, "The happiest moment of my life was the one when I defeated Geoff Hunt of Australia in a battle which lasted for 2 hours and 17 minutes. The then prime minister Shaheed Zulfikar Ali Bhutto promptly
congratulated me on phone from America. I was full of joy and proud when Pakistani flag was hoisted in Wimble Centre London." He said he won 100 International matches and remained World Champion in 1975, 1978 and 1980. "I was World No. 2 for 11 times, which is still a record," he added. Answering a question, Qamar added that he was interested in the game of squash since childhood but, being poor, his father could not afford rackets and balls with which his son could play but this never dampened his spirit and zeal and he practiced with a taped broken ball.-APP
B’stan wins PDCA disabled T20 tourney KARACHI: The Sardars of Balochistan clinched the NBP Twenty20 Disabled Pentangular Cricket Tournament with an easy 52 runs victory over Federal Area Mahraja's in the final at National Stadium here on Friday which also marked the World Disabled Day. Leg-spinner Omaiz-urRehman, who had problem in the leg, took three wickets for 26 runs and opener Majid Hussain (68) and Jahanzaib Tiwana (52 not out) played the key role in their team's triumph. Inserted to bat first, Sardars of Balochistan piled up 196 for the
loss of three wickets in their 20 overs. Majid Hussain, who had twisted leg, smashed five boundaries in his 68 off just 48 deliveries. Jahzanzaib, whose both foots are twisted, blasted a quickfire unbeaten 56 in 22 balls hoisting three sixes and hitting as many boundaries. Federal Areas Mahraja's in reply were restricted to 144-8 in 20 overs. Captain Major. Hasnain, whose foot was seriously damaged in a mine blast, topscored for his team scoring 38 in 25 balls, striking three boundaries and lifting one six.-APP
Australia's Brad Haddin said his spell with the new ball was among the toughest he had faced in test cricket -- but ending up with just two wickets. "I did bowl well there, I felt I bowled really well there," Anderson said. "But the worst thing to do would be to feel sorry for yourself and not bowl well here. So I just wanted to continue the form I felt I was in and I think I did that." On Friday, Anderson returned to take the new ball at the end of a long, hot day and was rewarded with his fourth wicket, helping bring to a close Australia's innings for a modest total. "It was a hugely satisfying day for everyone to come to a ground which has a notoriously flat pitch (and) keep them to such a low score," he said. "There'll probably be a tricky period in the morning when the ball's new, so if we can get through that, get a big partnership then hopefully we can catch them up."-Reuters
Farhat threatens to sue Majeed Monitoring Desk LAHORE: Imran Farhat, the Pakistan opener, is considering legal action against Mazhar Majeed, the player agent allegedly at the centre of the spot-fixing scandal engulfing the Pakistan team. Farhat was named by Majeed on Tuesday in fresh video footage as one of seven players he has working with him. "Instructions have been given to our lawyer in London to send a notice to Mazhar Majeed," a source close to Farhat told an international website. "We want Majeed to clarify and prove what he has said, or at least admit that what he has said was unintentional and incorrect. Otherwise we will take legal action for defamation against him. The possibility that Majeed took Farhat's name mistakenly, the source said, is being considered. "He might have been talking about someone else and Farhat's name came up by accident but this has to be clarified by him." A Pakistani TV channel, broadcasted previously unseen video footage in which Majeed takes the names of four more Pakistani players who, he claimed, work with him. The footage was shown as an exhibit in the ICC's provisional suspension hearings of Salman Butt and Mohammad Amir, held in October in Dubai, and was part of the evidence submitted by ICC against the three suspended players linked to the spot-fixing scandal. Farhat was part of Pakistan's squad in the series against South Africa but was dropped for the tour of New Zealand.
ADELAIDE: Australia's Hussey is hit by the ball during the first day of the second Ashes cricket test against England.-Reuters
Afridi concerned over axing of Kamran, Malik KARACHI: Pakistan's oneday captain Shahid Afridi on Friday questioned national selectors' decision to drop senior players Shoaib Malik and Kamran Akmal from the squad for New Zealand tour, saying that it would affect preparations for the 2011 World Cup. "I am definitely not happy with the way we are preparing for this mega event. I think we need to have experienced players like Kamran Akmal and Shoaib Malik in the team (for the New Zealand tour)," Afridi told reporters. The outspoken all-rounder said that the media should ask
the Pakistan Cricket Board and selectors why Kamran and Malik were not included in the squad. "I think the media should ask the board because we need experience players for a major tournament like the World Cup and you can't expect to go into such a big event with a young and inexperienced side," Afridi said. The national selectors ignored senior players Kamran, Malik, Rana Naved and Danish Kaneria while announcing the Test and Twenty20 teams for the New Zealand tour starting this month.
Afridi also urged the selectors to announce a pool of players for the World Cup as soon as possible so that the players could gel together and start preparing for the mega event. "We need to work with a pool of players as soon as possible," he said. Afridi declined to make any predictions about how Pakistan would perform in the World Cup next year being held in India, Sri Lanka and Bangladesh. "In modern day cricket, it is very difficult to make any predictions about who will win the World Cup.-Agencies
China likely to be next neutral venue for PCB Staff Reporter KARACHI: The Pakistan Cricket Board (PCB) is considering using China as a neutral venue for its international cricket events, Chinese state media said Friday, amid security concerns in Pakistan. The official Xinhua news agency cited sources as saying that the board's director Javed Miandad had submitted a report to the PCB suggesting its management "take special
steps to finalise China as a neutral venue." "We should take immediate and solid steps to decide this issue soon before the time passes away," Miandad was quoted as saying. Pakistan became a no-go area for cricket's leading nations after an armed attack on the Sri Lanka team bus in Lahore in March last year killed eight people, and injured seven Sri Lankan players and their assistant coach. Pakistan was due to host
matches in next year's World Cup. But the attack on the Sri Lanka bus saw the tournament restricted to the three remaining Asian Test nations of India, Bangladesh and Sri Lanka. Even before the Lahore incident, countries such as Australia had refused to tour Pakistan, where thousands have died in a decade of conflict. The security situation led Pakistan to play its "home" series against Australia in England this year.
Eng rejects FIFA bidding system ZURICH: There is no point in countries like England, Australia or the United States bidding to host World Cup finals in the future until FIFA changes its voting system, England's bid chief Andy Anson said on Friday. He also said that he believed England's bid was fatally damaged when FIFA president Sepp Blatter warned executive committee members of the "evils of the media" just before they voted. Russia won the right to stage the 2018 finals on Thursday while England, who expected at least "seven or eight votes" were knocked out in the first
round with just two including one from their own representative. Anson told a news briefing on Friday that some FIFA members told him they turned off England's bid by the British Broadcasting Corporation's Panorama documentary and the Sunday Times' investigations into corruption at FIFA. Asked if he would advise England to bid again Anson said: "I would say right now don't bother until you know that the process is going to change to allow bids like ours a chance to win. "When you have the best
technical bid, fantastic inspection visits and the best economic report, and from what people told us the best presentation yesterday -- it's quite hard to stomach that seemed to count for absolutely nothing. "Having only 22 guys voting gives them too much power and influence." Running two bids together for 2018 and 2022 was clearly a huge mistake. "Everyone who had a vote and a bid clearly wanted to trade that vote for something that helped them get over the line in that campaign. "Australia had a very good bid they got one vote, we had
a very good bid and we got two, the United States had an unbelievably strong technical bid and got three. "Six votes in the first round between those three, there's something not quite right. "For me this is an issue and FIFA needs to look at the process, because it makes it easy for formidable competitors like Russia and Qatar to gain influence." He suggested that FIFA consider reverting back to their old method of choosing hosts by a much bigger vote taken by all of its 208-members. That was the method used until the early 1970s.
UNHELPFUL BLATTER Regarding Blatter's intervention, Anson said: "I think that was unhelpful -- the last thing those guys needed to hear before they go and tick the box is the evil of the media is not helpful and actually inaccurate. "There was a final sum-up before they voted and I think it was at the beginning of that. That's not helpful to our cause." Anson admitted that the defeat was hard to accept and he felt totally let down. "I still find it hard to understand what happened. I'm not going to beat around the bush -individual members promised to vote for us and didn't clearly.
"That's difficult to stomach when they have given you assurances. They are saying to us that our media killed us but I don't believe that for one minute, but that's what we are being told. "Russia did a lot of lastminute lobbying and votes appeared to switch at the last minute -- we know some switched in the early hours of the morning. We are not naive and we were up until 5am, we left no stone unturned." "But I would advise any future England bid team not to bother, until the system changes. It is very hard to look some people in the eye this morning."-Reuters
US payrolls barely rise, jobless rate jumps WASHINGTON: US employment barely grew in November and the jobless rate unexpectedly hit a sevenmonth high, hardening views the Federal Reserve would stick to its $600 billion plan to shore up the fragile recovery. Nonfarm payrolls rose 39,000, with private hiring gaining only 50,000, just a third of what economists had expected, a Labor Department report showed on Friday. The unemployment rate in November jumped to 9.8 per cent, a troubling sign for an economy many thought was strengthening. Economists had expected 140,000 new jobs last month with the jobless rate holding steady. "The US economy has yet to achieve the escape velocity needed to improve the worrisome jobs picture," said Mohamed El-Erian, co-chief investment officer at Pacific Investment Management Co. in Newport Beach, California. Some analysts warned against reading too much into the data, which was out of step with other recent signs suggesting the recovery was picking up speed. A separate report on Friday showed service sector activity rose in November, with a gauge of hiring reaching its highest level since October 2007, before the nation tumbled into recession. US stocks were down just marginally in morning trade. Government bond prices rose on the jobs data but pared gains after the service sector report was released, while the dollar was lower against the euro and the yen.
Helping to temper the disappointment with the weak November payroll figures was revised data for September and October that showed 38,000 more jobs were gained in those months than previously estimated. One surprise in the report was the loss of 28,100 retail jobs last month despite expectations of a busy holiday shopping season. Some retailers waited until the last minute to hire and those jobs may not have been caught in the Labor Department's survey of employers. A raft of recent data, including solid retail sales, had raised optimism the economy was accelerating after hitting a soft patch in the summer. That soft patch helped Republicans wrest control of the House of Representatives from Democrats in November elections. Unemployment is expected to remain painfully high for years, a problem for President Barack Obama, who faces reelection in 2012. In November, the jobless rate jumped partly because the survey of households on which it is based showed discouraged workers rejoined the labor force. However, that survey also showed a drop in employment. "It is very disappointing," said Bernard Baumohl, managing director and chief global economist at The Economic Outlook Group, Princeton, New Jersey. "I would have to assume that these numbers will be revised substantially upward next month." Concerns about joblessness
and low inflation led to the Fed's decision last month to launch its now much-criticized plan to buy a further $600 billion in government bonds to push already low interest rates down further to lift demand. The US central bank cut overnight interest rates to near zero in December 2007 and had already bought $1.7 trillion in mortgage-related and government debt. Traders in futures markets on Friday pushed expectations of an eventual increase in overnight rates out until mid2012. Employment in November was weak across the board, with government payrolls contracting as local authorities continue to struggle with budget problems. Payrolls in the goods-producing sector fell 15,000, weighed down by a drop of 13,000 manufacturing jobs and the loss of 5,000 construction jobs. Employment in the private service-providing sector rose 65,000 in November, with the weakness in the retail sector offset by strong hiring by professional and business services, and another big gain in temporary employment. Economists often look to rising temporary employment as a harbinger of more permanent jobs to come, but temporary hiring has been strong for months, while payroll growth elsewhere has yet to gain a lot of traction. The workweek was steady at 34.3 hours in November and average hourly earnings edged up 1 cent.-Reuters
Euro zone PMI boosted by strong German performance LONDON: The euro zone's service sector economy pulled ahead in November thanks to strengthening German and French business, but debt-burdened Ireland and Spain continued to lag behind, business surveys showed on Friday. The Markit Eurozone Services Purchasing Managers Index (PMI), which surveys more than 2,000 businesses ranging from banks to hotels, rose in November to 55.4 from 53.3 in October and beating an earlier flash estimate of 55.2. This marks the 15th month the index has kept above the 50 mark that divides growth from contraction, largely thanks to strong private sector recoveries in the biggest of the 16 euro zone economies, Germany and France. However, surveys released earlier on Friday showed the Spanish service sector in decline and Ireland's in stagnation -- a divergence from the prosperous euro zone core which survey compiler Markit warned could worsen in coming months. "Germany's recovery goes from strength to strength as service providers and consumers feel the benefit from export-led growth," said Chris Williamson, chief economist at Markit. "But austerity measures and economic uncertainty are hitting consumer confidence in the debt-laden countries." Underlining the divergence, Williamson noted that business expectations in Germany hit their second highest in almost seven years while Irish confidence in the future saw the biggest monthly deterioration since the collapse of Lehman Brothers.-Reuters
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we - that is involved in our relationship, and we would expect that to continue," he added. Responding to another question, Crowley said that US Secretary of State Hillary Clinton had telephoned Pakistan President Asif Ali Zardari to "regret the fact that cables were released."-Online
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Cancun from November 29 to December 10. Temperatures have already risen by about 0.8 degree C since pre-industrial times. The Cancun talks are trying to build on a nonbinding deal at the Copenhagen summit last year to limit overall temperature rises to 2 degrees C (3.6 degrees F). Curbs promised by emitters led by China and the United States are too little to reach the goal. Cancun will seek a modest package of measures, including a new "green fund" to help channel aid to developing nations, a new mechanism to share clean technologies and to protect carbon-absorbing tropical forests. The WMO said warming had been especially strong in Africa, parts of Asia and parts of the Arctic. Pakistan, hit by devastating floods, recorded a record temperature of 53.5 degrees C (128.30 F), the warmest in Asia since 1942. Environmentalists said the data should spur action in Cancun. "This is yet another warning from the planet that it is feeling the heat," said Wendel Trio, international climate policy director for Greenpeace.Jarraud said that the decade-long trend was most relevant to negotiators in Cancun seeking to avert more floods, droughts, desertification and rising sea levels.-Reuters
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defence minister announced he would step down to take responsibility. Kim, a retired four-star general and former chairman of the Joint Chiefs of Staff, said the South would exercise its right to self-defence and "punish the attacker thoroughly until the source of hostility is eliminated". Kim said the attack triggered "the most serious crisis" since the 1950-53 war. But he dismissed the chance of full-scale war as slim, citing the military prowess of South Korean and allied US forces, which have 28,500 troops based in the country. The South also plans five days of artillery firing next week. But the defence ministry held off on scheduling a drill on Yeonpyeong -- which was hit in the November 23 attack and is close to North Korea's coast -- saying it could come "by the end of this year at the latest". Yonhap said the North had deployed 100 new multiple rocket launchers north of the border, boosting their number to 5,200. They have a range of 60 kilometres (37 miles), meaning they could hit the capital, Seoul. The United States, meanwhile, joined forces with officially pacifist Japan in a giant display of military firepower dubbed "Keen Sword," with 60 warships, 500 aircraft and 44,000 troops in southern Japanese waters.-Reuters
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at China's central bank last week warned that inflationary pressures were building because of flows of capital into the country and expectations of a revaluation of the yuan. The nation's consumer price index rose 4.4 per cent year-on-year in October, well above the government's full-year target of three per cent, with the prices of 18 types of vegetable increasing more than 60 per cent. Analysts said the government's announcement signalled a new phase in the country's efforts to curb spiralling prices.-Agencies
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Kazmi, Minister of Science and Technology Azam Sawati and NAB Chairman. Justice Javed Iqbal, Justice Raja Fayaz, Justice Ghulam Rabbani and Justice Ramday will be included in the five member bench of the Supreme Court. NNI
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secret documents. Speaking in a state-run TV programme, Abdul Basit said only the officials of the US embassies can confirm or rejects these leakages as most of these releases are concerned with the meetings held in the US embassies. Replying another question, he said there is no need to confirm or reject the WikiLeaks releases, and added, "We should not worry about these things, we should leave them as they are now, and move forward while further strengthening internal mechanism and procedure". In another development The Lahore High Court has dismissed a plea by a local lawyer Arif Gondal to ban the WikiLeaks in Pakistan, local media reported. The petitioner was of the view that the leaks were defaming the leadership of the country and must be banned inside Pakistan. The leakages by the website were undressing many in Pakistan, he added. Justice Azmat Saeed observed that this (act of divulging) would benefit the whole nation, adding it's 21st century and truth must prevail. The court then dismissed the plea as not maintainable. Earlier, Wikileaks was forced to switch over to a Swiss domain name, wikileaks.ch, after a new round of hacker attacks on its system prompted its American domain name provider to withdraw service. WikiLeaks' US domain name system provider, EveryDNS, withdrew service to the wikileaks.org name late Thursday, saying it took the action because the new hacker attacks threatened the rest of its network. Meanwhile, Afghan President Hamid Karzai's own inner circle considers him weak and sometimes unscrupulous, leaked US diplomatic cables show, a domestic vote of no confidence that may be more damaging than foreign criticisms. Karzai, known to be sensitive about his team's loyalty, is likely to be infuriated by the idea of his cabinet discussing his flaws, making deals behind his back and sharing concerns with a US embassy considered highly critical of his rule.-Agencies
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demanded that zero rating be maintained on other products of wheat and flour. Levying tax on sooji and maida will impact the common man directly as well as negatively. RGST will give rise Continued from page 12 No #4 to indirect tax for Atta, he added. everywhere I went, I was assured by the local Indian diplomatChairman FBR Sohail Ahmad said RGST would not be slapped ic missions that the visa would be granted. They kept saying, on flour and only maida and sooji would be affected by it. "don't worry" in London, then in New York, Chicago, Toronto and Chairman FBR said that zero rating could not be allowed to any even here in Dubai. But the manner in which they dragged it to the department except exports. Only products could be exempted last day and then fell silent is absolutely shocking... This came as from tax, he said, adding the government or FBR could not a shock even to the Indian High Commissioner here in Dubai." exempt any company from the payment of tax following the Declaring that he would never come to India again, Musharraf imposition of RGST. A new bill would have to be brought in the said, "I believe in my honour and dignity. When Indian and Parliament on this account, he said. The committee will again Pakistani forces were eyeball-to-eyeball in 2002, I went to attend meet on Tuesday.-Online the Saarc Summit in Kathmandu, for which I was permitted to fly Continued from page 1 No #9 over the Indian airspace... I chose to route my plane via Beijing instead." -Online country that is not a market economy and where the state influences prices, demonstrates China's increasing assertiveness in the Continued from page 12 No #5 global trading system. China had challenged the way the United quoted Hu as saying. "We must be more active in dealing with States calculated the duties and the fact that it suffered a double the relationship between stable economic growth, adjusting the penalty of anti-dumping duties for unfairly priced goods and economic structure and managing forecasted inflation," he said in countervailing duties for subsidised products. But the original rula separate meeting after the politburo gathering. A senior official ing published on Oct. 22 had backed the right of an importer to set
China declares shift to “prudent� monetary policy BEIJING: China will switch to a prudent monetary policy from a moderately loose stance, the Communist Party's top leaders decided on Friday, a change that could pave the way for more interest rate increases and lending controls. At the same time, the Politburo elected to maintain China's proactive fiscal policy, an indication that the government wants to continue to ramp up investment spending even while taking tightening steps to control inflation. That was underscored on Thursday when sources told Reuters that China is considering investments of up to $1.5 trillion over five years to promote the production of high-value technologies. Chinese and global markets were little affected by the policy announcement, with investors seeing the new wording as an affirmation of the gradual tightening that Beijing has already started to implement. But while the change in policy description had been discussed for several weeks by central bank advisers, the Politburo's endorsement, reported by the official Xinhua news agency, could still mark a decisive turning point. "It means that all sorts of monetary policy tools to control liquidity and to control inflation can now be used," said Ken Peng, an economist with Citigroup in Beijing. "In the past we've been clearly focusing on administrative measures. Going forward we could be using more price adjustments via interest
rates," he said, adding that he expected five rate increases by the end of next year. China has raised interest rates just once this year as it has guided its monetary policy back to normal from the ultraloose settings it adopted to counter the global financial crisis. Instead, it has used quantitative tools to do the heavy work, officially raising banks' reserve requirements five times. "The prudent monetary policy stance means compared with this year, policy next year will be biased toward tightening," Xia Bin, an academic adviser to the central bank, told Reuters. Along with playing a role in the fight against inflation, policy tightening also signals confidence that the world's second-largest economy is on solid ground, even as the US and European recoveries remain fragile. "China has no need now to worry about overall demand at all," said Dong Xian'an, chief economist with Industrial Securities in Beijing. "Instead, the top priority is to curb inflation and avoid economic overheating." "The sooner China acts and the more forceful measures it takes, the better," he said. Consumer inflation hit a 25month high in October, as price rose 4.4 per cent from a year earlier, and is expected to have edged higher in November. Although it has been driven almost exclusively by food prices, pressures have been broadening on the back of higher global commodity costs. China's cabinet vowed last
month to take "forceful" measures, including price controls if necessary, to rein in inflation. But in maintaining a proactive fiscal policy, the government sent a strong message that it wants to keep cash flowing through the economy to power its development. The $1.5 trillion, five-year investment plan will target sectors that include alternative energy, biotechnology, newgeneration information technology, high-end equipment manufacturing, advanced materials, and environmentally friendly technologies. The Central Economic Work Conference, they key annual meeting at which top leaders chart out economic policies for next year, is expected to discuss the plan when it convenes later this month. A major prong of the government's stimulus programme was a flood of lending by banks. China has already begun to rein in loan issuance this year and the shift to a prudent monetary policy could signal more restrictions next year. Banks are on track to issue 7.5 trillion yuan in new loans this year and that could fall to 7 trillion yuan next year, Xia, the central bank adviser, said. This would imply about 15 per cent lending growth, down from this year's nearly 20 per cent clip, he added. Money market rates have spiked in the last couple of weeks, as a flurry of reserve requirement increases drained cash from the financial system and prompted banks to sit on funds in anticipation of further credit curbs.-Reuters
Canada joblessness rate falls but job gains tepid OTTAWA: Canadian factory layoffs in November nearly erased job gains in health care, trade and other services as an export slump hindered economic growth and led to a third straight month of disappointing employment data. The economy gained 15,200 jobs in November, Statistics Canada said on Friday, below expectations of an 18,000-job gain. The unemployment rate fell to 7.6 percent from 7.9 percent in October but that was largely due to a large number of youth dropping out of the job market, Statscan said. The modest gain followed two
months of softer-than-expected employment with just 3,000 new jobs in October and the loss of 6,600 positions in September. Unlike the United States, Canada has recovered the jobs lost during the 2009 recession. However, the pace of employment has slowed from earlier this year, "Not only did the headline come in very soft after the prior month's softness, but the hours worked grew at an even weaker pace because all of the job gains were part-time," said Derek Holt, economist at Scotia Capital. "That implies less of a lift to consumer incomes than even the modest
gain in jobs." A disappointing U.S. nonfarm payrolls report on Friday could mean even more bad news for Canada in the form of a further weakening of demand for Canadian goods from the country's top market. U.S. employment barely grew in November and the jobless rate unexpectedly hit a seven-month high of 9.8 percent. "It's a bit discouraging to see the unemployment numbers in the United States ... there's a persisting concern with respect to the American economy," Finance Minister Jim Flaherty said on Friday.-Reuters
duties on goods from non-market economies to compensate for unfair pricing and for subsidies -something a US court had previously struck down. The two-year-old dispute involved duties imposed by the United States on imports of Chinese steel pipes, off-road tyres and woven sacks. Under normal practice, the WTO's appellate body will issue a ruling on the appeal within 90 days. As the world's largest exporter, China is frequently the target of trade actions by other countries, but it has been building up expertise in handling the global trading system by launching its own cases and appealing adverse judgments. Reuters
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Ginners Association (PCGA) here Friday, the arrivals have recorded a drop of more than 2.070 million bales in the fortnight. Punjab produced 5.262 million bales, down by 22.36 per cent over same period last years while Sindh crop was lower by 15.20 per cent to 3.095 million bales over previous year. Of the total textile mills purchased 6.887 million bales during the period under review while exporters procured 389,070 bales, leaving an unsold stock of over 1.080 million bales with the ginners. Chairman Karachi Cotton Brokers Forum Naseem Usman while commenting on the production said that devastating floods have badly damaged cotton crop and about 2.3 million bales have been destroyed.-APP
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Abbasi, Kashmala Tariq, Faisal Saleh Hayat, Maulana Qasim, Rashid Godail, Bushra Gohar, Malik Jamil, Khalida Mansoor and Nighat Parveen.It started on Friday when during the course of meeting Fauzia Wahab and Kashmala Tariq re-exchanged hot words.-Online
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Dealers said Friday's rise could be limited because most of these solar-related firms were small and were newcomers in the industry. Some of them shifted their lines of business into environmentfriendly sectors due to government support. There were also concerns about over-capacity in some sectors in the alternative energy sector, particularly in the polysilicon and wind-equipment manufacturing. Polysilicon is the raw material used to produce solar cells and panels. Coal producers extended their declines. China Shenhua Energy Co Ltd dropped 3.0 per cent, extending Thursday's 5.1 per cent slump on reports that Beijing had ordered a freeze in prices for 2011.Turnover remained thin at HK$85 billion ($11 billion), down from November's daily average of HK$98 billion. Reutersa
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recently translated into a boost for US and global equities. "The focus today is more on what is related to the weaker dollar, like basic materials," Jefferies' Hogan said. The S&P materials index up 0.3 per cent was the only top S&P sector in the black. China will switch to a prudent monetary policy from a moderately loose stance, the Communist Party's top leaders decided Friday, possibly paving the way for more interest rate increases and lending controls In company news, US-based mining group Walter Energy Inc agreed to buy Canada's Western Coal Corp for about $3.25 billion to create the world's leading metallurgical coal producer. Walter fell 0.7 per cent to $104.82.-Reuters
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Cable leaks won’t hit Pakistan links: US WASHINGTON: Despite the fallout from the deluge of diplomatic cables having been released by whistle-blower website WikiLeaks, the United States expects that cooperation, support and partnership in the US-Pakistan relationship will continue. During a press briefing, when asked whether the "WikiLeaks documents can or will create
Pak-US strategic ties seen unaffected ISLAMABAD: Senator Saleem Saifullah Khan and Anwar Saifullah Khan called on President Asif Ali Zardari at Aiwan-e-Sadr. APP
19th Amendment to move in next NA session
Committee heeds all SC advices on judge-naming ISLAMABAD: The P a r l i a m e n t a r y Committee on Constitutional Reforms (PCCR) Friday approved all the recommendations made by the Supreme Court regarding the appointment of judges. The recommendations will be tabled in the next National Assembly session in the form of the 19th Amendment. CRC Chairman Raza Rabbani chaired the meeting, which unanimously approved the apex court's recommen-
dations. The meeting was attended by Sardar Mehtab Haider, Abdul Rahim Mandokhel, Senator Haji Adeel, Dr Farooq Sattar, Aftab Ahmed Khan Sherpao, SM Zafar and other members. As per the recommendations, four senators will decide the appointment of judges if National Assembly is dissolved. Out of four, the decision of three senators will be considered final. In case of dismissal of any name by
the Parliamentary Commission, PCCR has proposed the Prime Minister's name to forward the rejected name to the Judicial Commission. The Federal Cabinet will endorse the 19th Amendment before presenting it to the National Assembly. Sources say there is no proposal about creation of new provinces in the 19th Constitutional Amendment. The also took an in-depth view of Article 175 A of the con-
2010 to be one of 3 warmest years: UN CANCUN, Mexico: This year is set to be among the three warmest since records began in 1850 and caps a record-warm decade that is a new indication of man-made climate change, the United Nations said on Thursday. "The trend is of very significant warming," Michel Jarraud, head of the World Meteorological Organisation, told a news conference on the sidelines of a meeting of almost 200 nations in the Caribbean resort of
Cancun trying to curb global warming. He said 2010 so far was slightly warmer than both 1998 and 2005, the previous top two, but could slip if December is a cool month. The WMO said that land and sea surface temperatures so far in 2010 were 0.55 degree Celsius (1 F) above a 1961-1990 average of 14 degrees C (57.2 degrees F). The years 2001-10 were the warmest 10-year period, it said. "There is a significant
possibility that 2010 could be the warmest year," he said. A final ranking for 2010 is due to be published early in 2011. Asked if the data were new evidence that human emissions of greenhouse gases from burning fossil fuels were warming the climate, he said, "Short answer: yes." "If nothing is done ... (temperatures) will go up and up," he said, saying the findings would guide negotiators meeting in See # 2 Page 11
ECB boss counts euro as ‘credible’ PARIS: The European Central Bank's chief says the euro remains a "credible" currency despite the debt crisis that has required the bailouts of Ireland and Greece and raised worries about Portugal and Spain. Jean-Claude Trichet is also urging European governments to make a "quantum leap" toward reforming and cleaning up their budgets. Speaking Friday
in Paris, he said, "This is
no time for complacency." He would not single out any country or comment on whether the ECB has increased its purchase of Irish and Portuguese bonds amid worries about their debts. Trichet insisted "the euro is a credible currency. The euro is a currency that is considered just as credible for the next 10 years as for the last 12 years."-Agencies
SKorea set to blitz NK in case of fresh onrush SEOUL: South Korea will hit back with air strikes at the North and "punish the attacker thoroughly" should the regime launch another assault, the defence minister-designate warned Friday. The tough words came as the largest ever USJapan war games kicked off in waters off the tense Korean peninsula. The manoeuvres in the East China Sea dwarf US-
South Korean exercises this week in the Yellow Sea. These were designed as a show of force to Pyongyang after its regime launched a deadly artillery strike against South Korea. In Seoul the nominated defence minister Kim Kwan-Jin told a parliamentary confirmation hearing that if the communist regime of Kim Jong-Il attacked again, "we would
definitely use the air force to strike back". The South's military counter-attacked with artillery after the North on November 23 shelled a border island, killing two civilians and two marines. But Seoul refrained from using air power for fear of escalating the clash. The South's response was widely blasted as feeble and the previous See # 3 Page 11
stitution under the 18th Amendment and after long deliberations the members of the committee agreed to accept all recommendations of the Supreme Court so that all reservation of SC could be removed. After the approval of 18th amendment from the parliament the SC had expressed its reservations over article 175 A, which relates to the procedure of judges appointment, has been resent to PCCR for review.-Online
any sort of confusion or increased tension between Pakistan and the US Army," US State Department Spokesman Philip J Crowley said, "First… we'll put the documents aside. We are building a strategic partnership with Pakistan, and that's manifest in the strategic dialogue that we've had on multiple occasions this year in Washington and in Islamabad." "Our partnership has multiple dimensions. One, on the military side, there is extensive cooperation between the Pakistani military and the United States military, and we would expect that to continue. And on the civilian side, we are building up - helping to build up the capacity of the Pakistani Government to deal with a range of challenges, not the least of which is recovering from the recent flooding," Crowley said. "This is in our national interest. It is in Pakistan's national interest. President Zardari once again affirmed the importance of our cooperation and the support and partnership that See # 1 Page 11
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India out of Musharraf’s itinerary forever 11th-hour visa denial shocked me, says former president NEW DELHI: "I don't plan to come to India ever again," says Pervez Musharraf. The former Pakistan President and Army chief, who was denied a visa by the Indian government, says he doesn't believe it was because New Delhi believed he was the main person behind Kargil. He also asked why he was reassured time and again that he would get a visa before the denial came. "I have no words to explain my disappointment," Musharraf told The Indian Express over the phone, from his home in Dubai. "Meri ummeedon pe paani pher diya aapki government nay (Your government has dashed my hopes)... I think it shows a lack of confidence on the part of India to face me." Pointing out that he had met both former prime minister Atal Bihari Vajpayee and Manmohan Singh after Kargil, the former General said he didn't believe his role in the war prompted the move.
"I mean, that's a very silly reason... All this rapprochement that I initiated has been washed down the drain. Why was I allowed to come three times between Kargil and now if that is the case?" He says he is yet to be communicated the official reason for the denial of the visa. "I think the denial has come from either India's Ministry of Interior (Home) or Foreign Ministry. If it is Interior, they were wary of the law and order situation or my comments on terrorism, Kashmir perhaps. Or could it be what I said on Muslim extremism being on the rise in India? I frankly don't know."
He claims the denial of visa came as a total surprise. "I was relaxed all this while. I have been travelling the world the past few months and everywhere I went, I was assured by the local Indian diplomatic missions that the visa would be granted. They kept saying, "don't worry" in London, then in New York, Chicago, Toronto and even here in Dubai. But the manner in which they dragged it to the last day and then fell silent is absolutely shocking... This came as a shock even to the Indian High Commissioner here in Dubai." Declaring that he would never come to India again, Musharraf said, "I believe in my honour and dignity. When Indian and Pakistani forces were eyeball-to-eyeball in 2002, I went to attend the Saarc Summit in Kathmandu, for which I was permitted to fly over the Indian airspace... I chose to route my plane via Beijing instead." Online
China to tighten monetary noose in '11 BEIJING: China pledged Friday to tighten monetary policy next year -- a sign that new interest rate hikes are imminent, analysts say, as the world's secondlargest economy steps up its battle againstinflation. The ruling Communist party's politburo decided to shift its stance from "relatively loose" to "prudent" at a meeting chaired by President Hu Jintao, the Xinhua news agency reported. The politburo said it should "implement an active fiscal policy and a prudent monetary policy, to increase the focus, flexibility and effectiveness of macro-economic adjustments," the report said. "We must clearly see that the functioning of China's economy is facing some prominent contradictions and problems, the environment for development is more complicated and our task is arduous," Xinhua quoted Hu as saying. "We must be more active in dealing with the relationship between stable economic growth, adjusting the economic structure and managing forecasted inflation," he said in a separate meeting after the politburo gathering. A senior official at China's central bank last week warned that inflationary pressures were building because of flows of capital into the country and expectations of a revaluation of the yuan. The nation's consumer price index rose 4.4 per cent year-on-year in October, well above the government's full-year target of three per cent, with the prices of 18 types of vegetable increasing more than 60 per cent. Analysts said the government's announcement signalled a new phase in the country's efforts to curb spiralling prices.-Agencies
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