The Financial Daily-Epaper-05-02-2011

International Karachi, Saturday, February 5, 2011, Rabi-ul-Awwal 1, Price Rs12 Pages 12

Qaim commands new investments

Egypt protests turn violent CJ off to India for C'wealth law moot

See on Page 12

Power blackouts in Pak kill growth, says ADB See on Page 12

See on Page 12

PPP CEC gives final go-ahead to Gilani to break Cabinet

Economic Indicators Forex Reserves (29-Jan-11) Inflation CPI% (Jul 10-Dec 10) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Dec 10) Remittances (Jul 10 - Dec 10) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10) Foreign Debt (Sep 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)

GDP Growth FY10E Per Capita Income FY10 Population

$17.38bn 14.61% $10.98bn $19.13bn $(8.15)bn $26mn $5.29bn $1.05bn Rs 638bn $58.41bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.08mn

Cabinet to go anytime soon Prime Minister says reconciliation solution to many problems Special Correspondent / Agencies

Portfolio Investment SCRA(U.S $ in million)

199.80 -0.95 2.22 3091

Yearly(Jul, 2010 up to 3-Feb-2011) Monthly(Feb, 2010 up to-3-Feb-2011) Daily (3-Feb-2011) Total Portfolio Invest (28 Jan-2010)

NCCPL (U.S $ in million)

FIPI (4-Feb-2011) Local Companies (4-Feb-2011) Banks / DFI (4-Feb-2011) Mutual Funds (4-Feb-2011) NBFC (4-Feb-2011) Local Investors (4-Feb-2011) Other Organization (4-Feb-2011)

0.11 -1.55 0.84 -0.37 -0.60 1.18 0.40

Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones

Close 12,415.35 10,543.52 23,908.96 18,008.15 2,645.02 2,798.96 6,010.44 12,072.97

Change 56.29 112.16 426.01 441.16 20.71 8.27 27.10 10.71

GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)

$.Price PKR/Shares 2.60 111.04 18.08 154.43 2.00 42.71 1.70 36.30 11.62 39.68

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)

26-Jan-2011 26-Jan-2011 26-Jan-2011 29-Nov-2010 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011 04-Feb-2011

13.67% 13.71% 13.88% 14.00% 13.21% 13.61% 13.76% 14.13% 14.27% 14.22% 14.25% 14.27% 14.59% 14.78% 14.96%

Commodities *Crude Oil (brent)$/bbl 102.01 *Crude Oil (WTI)$/bbl 91.24 *Cotton $/lb 169.44 *Gold $/ozs 1,356.00 *Silver $/ozs 29.13 Malaysian Palm $ 1,247 GOLD (NCEL) PKR 37,321 KHI Cotton 40Kg PKR 12,325

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 86.70 Canadian $ 85.80 Danish Krone 14.00 Euro 116.30 Hong Kong $ 10.90 Japanese Yen 1.034 Saudi Riyal 22.73 Singapore $ 66.60 Swedish Korona 12.00 Swiss Franc 85.60 U.A.E Dirham 23.23 UK Pound 137.30 US $ 85.65

Sell (Rs)

87.60 86.80 14.70 117.80 11.00 1.060 22.95 67.60 12.10 86.20 23.48 138.80 86.00

Inter-Bank Currency Rates Symbols

Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $

Buying TT Clean

Selling TT & OD

86.97 86.20 15.62 116.45 10.97 1.047 22.77 67.04 13.19 90.22 23.48 137.78 85.42

87.17 86.40 15.66 116.72 10.99 1.050 22.82 67.20 13.22 90.43 23.53 138.11 85.60

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MAX-TEMP

22°C 28°C 23°C 23°C 13°C 22°C

MIN

10°C 12°C 9°C 10°C 5°C 11°C

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LONDON: Simon Clements, the head of the special crime unit at Britain's Crown Prosecution Service announces charge against three Pakistani cricketers in London.-Reuters

All in place to retrieve Pakistanis from Egypt ISLAMABAD: Family members of Pakistan nationals trapped in strife-torn Egypt are much worried over the lack of arrangements on the part of government for their evacuation.

However Foreign Office (FO) spokesman Abdul Basit said two special flights would be sent within 24 hours to bring back diplomatic staff and Pakistani nationals from Egypt.

As per media reports the entire system has been paralysed in all the major cities of Egypt following the eruption of riots and clashes between pro and anti government elements.

Therefore, a large number of Pakistanis have been stranded and they have not succeeded to return home despite their allout efforts.

The family members of these Pakistani nationals were of the view that Pakistan embassy in Egypt was not cooperating with them.

They have demanded of the government to make special arrangements for evacuation of their near and dear ones rather than relying on national airlines.

A statement issued here by ministry of foreign affairs said special plane would reach Cairo to bring back the trapped Pakistanis. Pakistan embassy is making arrangements in collaboration with Egyptian authorities in this regard. On the other See # 9 Page 11

Axing cabinet may not win RGST support: experts

RGST accord a far cry so far ISLAMABAD: Pakistan Peoples Party's decision to dissolve the cabinet to make Opposition happy is unlikely to help win support for wholesale economic reform as demanded by the IMF, experts said Friday.

But the faction continues to oppose plans to impose Reformed General Sales Tax (RGST) -- a key condition of the International Monetary Fund for continued financial aid.

Pakistan's already feeble economy was battered by devastating floods last year that inflicted nearly $10 billion in damage. Foreign aid has been slow in coming, in part because of concern about the government's ability and willingness to implement financial reform.

Pakistan's main financial problem is a chronic lack of tax revenue. The country taxes only about 10 per cent of its economy, one of the lowest tax-

to-GDP ratios in the world.

The IMF says widening the tax base and implementing the RGST is key for securing the next tranche of an $11 billion emergency loan, which has propped up Pakistan's economy since 2008.

"The government thinks that if they demonstrate they are reducing expenditure (by reducing the cabinet) they can mobilise support for the (RGST)," said Hasan Askari Rizvi, an independent political analyst.

But the PML-N says Gilani is making too many concessions to international donors. Despite the planned cabinet reduction, the prospects of passing the RGST seem more remote than ever.

The PML-N has also demanded a 30 per cent cut in spending, the removal of corrupt officials and a plan to control inflation.-Reuters

Oil sales down 3.4pc in 7MFY11

Ghulam Raza Rajani portation fuel, chilled due to a slowdown in trading activities KARACHI: The oil consump- amid floods. Similarly, sale of tion in the country posted a furnace oil (FO) --the heavydecline of 3.4 per cent as weight product with 44 per cent showed by Oil Company share in overall oil consumpAdvisory Committee (OCAC) tion-- reduced by 3 per cent numbers for 7MFY11.

YoY to 5 million tonnes.

The total volume of the POL Interestingly, petrol consumpproducts (ex non-energy) was tion continued to show a rising recorded 11.3 million tonnes in trend, up 18 per cent to 1.3 mil7MFY11 against 11.7 million lion tonnes on account of perin 7MFY10. sistent CNG shortage.

Major reason behind this As per the research analyst of decline in sales is lower diesel Topline Securities, company consumption which decreased wise data shows that PSO sold by 9 per cent YoY to 4 million 7.3 million tonnes of oil prodtonnes during 7MFY11. The ucts, down 11 per cent YoY demand of diesel, which con- whereas sales of Shell and APL tributes 35 per cent to total oil increased by 22 per cent and LAHORE: An investigation consumption for it's a transSee # 10 Page 11 team Friday submitted its preliminary report to the governUK prosecutors push spot-fixing case ahead ment of Punjab over Raymond Davis firing incident in Lahore.

The probe team comprises CCPO Lahore Aslam Tareen, SSP Investigation Zulfiqar Hameed and SP Civil Lines Captain Liaquat.

Bookie Majeed too faces conspiracy charges The report said that the US national Raymond Davis nei- LONDON: British prosecutors charged with conspiracy to ther opened fire in his defence Friday charged three Pakistani obtain and accept corrupt paynor he was a diplomat, adding cricketers with taking bribes to ments and with conspiracy to the security agencies were not fix incidents in an international cheat. match in England last year.

"These charges relate to alleaware of his visit to the inciSalman Butt, Mohammad gations that Mr Majeed acceptdent-site.

Asif and Mohammad Amir are ed money from a third party to Sources said that the people accused of fixing certain inci- arrange for the players to bowl and the vehicle that rushed to dents, such as the bowling of `no balls' on 26 and 27 August help Davis were not yet hand- no-balls at pre-agreed times, 2010, during Pakistan's Fourth ed over to the police and the during the fourth test at Lord's Test at Lord's Cricket Ground US consulate in Lahore is not last August. in London," said Simon cooperating despite several Britain's Crown Prosecution Clements, head of the CPS letters written to the mission Service said the trio, along with Special Crime Division. from the provincial govern- a fourth man, sporting agent He said Majeed had been ment.-Agencies Mazhar Majeed, had been See # 11 Page 11

Davis didn't pull trigger in defence, probe says

Charges pinned on Salman, Amir, Asif

PM consults political leaders

ISLAMABAD: A meeting of Central Executive Committee of Pakistan Peoples Party was held here on Friday at Aiwan-eSadr with President Asif Ali Zardari in the chair to discuss the political situation with particular reference to trimming down the size of the cabinet.

Briefing media Spokesperson to the President Farhatullah Babar said that the CEC meeting has authorised Prime Minister Syed Yousuf Raza Gilani who was also present in the meeting to dissolve the cabinet and reappoint a smaller cabinet with fewer ministers enjoying reputation of integrity, competence, and efficiency in consultation with coalition partners.

The decision was taken after the Co-Chairman invited CEC members' comments on his intention to have a "lean and above the board cabinet". All the ministers, advisors, special assistants and those holding

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talked to the leaders of various political parties over telephone on Friday evening for consultation over reducing the size of the Federal Cabinet in accordance with austerity measures being taken in the wake of economic difficulties.

The Prime Minister talked with PML (N) leader Mian Nawaz Sharif, Quaid PML (F) Pir Syed Mardan Shah of Pagaro, , Quaid MQM Altaf Hussain, President ANP Asfand Yar Wali, Amir JUI (F) Maulana Fazal ur Rehman, and the Leader of FATA Parliamentarians Munir Khan Orakzai.-NNI rank of state ministers will a broad overview of performcease to hold offices on a date ance of government and the to be decided by the Prime cabinet during the last three Minister in consultation with years and strategy to revitalise coalition partners and under the economy in view of mounting pressures. The guidance and advice of the economic Party's Co-Chairman President President said that he will conAsif Ali Zardari. New cabinet tinue to play the role of a guide ministers will be appointed to the Party and the governsoon thereafter in batches, it ment.

The President said the Prime was further decided, Minister has already made the Farhatullah Babar said.

Speaking on the occasion the position of the government President touched upon a num- clear on the blasphemy law on ber of issues ranging from the floor of the House. He said progress on investigation in the that the Prime Minister has also the religious assassination of Shaheed invited See # 13 Page 11 Mohtarma Benazir Bhutto, and

Kashmir Solidarity Day will be marked today

PIA told to take solid restructuring steps

ISLAMABAD/ MUZAFFARABAD: The nation would observe Kashmir Solidarity day with zeal and zest today (Saturday) while the government has announced public holiday in this connection.

All preparations are afoot across the country and AJK to observe "Kashmir Solidarity Day" on Saturday February 5 to reiterate full solidarity with the people of Indian-occupied Kashmir in their just and principled struggle for freedom from unlawful Indian subjugation and to reach to the ultimate destination of achieving right to self determination.

The entire nation and the people of Jammu and Kashmir living on both sides of the line of control besides rest of the world will join hands on February 5, to raise voice for the right of self determination for their brothers and to support See # 12 Page 11

Pakistan Post off selloff list ISLAMABAD: Minister for Privatisation Senator Waqar Ahmad Khan has told the Upper House that Pakistan Post is not being privatised and its sacked employees have also been reinstated.

Senator Professor Khurshid Ahmad, Professor Ibrahim, Aafia Zia and Senator Azam Swati piloted an adjournment motion in Senate on Friday. Professor Khurshid said he had learnt through media reports that government is planning to privatise Pakistan Post.

Replying to the question Senator Waqar stated that Pakistan Post was a vital national asset and a profit earning entity, therefore, the reports about its privatisation were a source of grave concern.

See # 8 Page 11

Shaikh stresses fast flood-compensations ISLAMABAD: Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh Friday presided over a meeting of the Chief Secretaries of the four provinces, Gilgit-Baltistan, and Azad Jammu and Kashmir on 'Flood Response, Cash Transfer to the Flood Affectees-2010'.

The meeting deliberated on the amount of federal and provincial cofinancing, benefit amount per family, amount per tranche, number of tranches, mechanism to deal with fresh applications, closing dates for ongoing and fresh registrations and outline for the operational manual that will guide the implementation.

The minister while addressing the meeting emphasised on the implementation of plan for the compensation of flood victims, and urged the provinces to strengthen the system, as this is a model of collaboration of various national and interna-

tional agencies.

On the abovementioned issues Chief Secretaries detailed on how far their respective sides have completed the first phase of the payment of Rs20,000 per family.

Payment of Rs80,000 per family as pledged by the government was also discussed in the light of the finances available in this regard.

A workable and practical mechanism to deal with fresh applications for compensation, closing dates for ongoing and fresh registration, and the criteria of complete damage, partial damage of houses in the affected areas and vulnerability, were discussed at length.

The Chief Secretary Punjab informed that they have closed the rehabilitation centers after attaining the target of distributing the Rs20,000 per family in the first phase, and in the light of the criteria settled hereafter, they will move ahead.

See # 7 Page 11

Sindh mayn’t reap its targeted wheat HYDERABAD: Wheat crop in Sindh is anticipated to fall short by 25 per cent against this year's harvest target as the water the province received was less than its due share for Rabi crops.

A meeting of Sindh Chamber of Agriculture (SCA) here Friday taking note of the matter called upon Indus River System Authority (IRSA), the federal and the provincial governments to ensure that the province was provided its due share of water.

The meeting, presided over

by SCA’s President Dr Syed Nadeem Qamar, also protested over the release of toxic water from Manchar Lake into the Indus at a time when the river flow was ebbing.

"With large quantities of toxins being dumped in the river, the water is fast becoming harmful for human consumption," it observed.

Participants also expressed fears of loss to the sugarcane crop if the province continued to receive reduced water supply from IRSA. The conclave of the growers on the occasion passed a resolution calling for constancy in Sindh's water quota and increase in the supply from the ongoing Rabi allocation so that the wheat crop could be irrigated adequately before the harvest begins.

The participants of the meeting expressed concern over the non-rehabilitation of embankments, canals and regulators damaged by the recent floods.

"The growers of Khairpur Gambho, Kot Ghulam Muhammad and Naunkot subdivisions getting water from Rohri and Nara canals' would suffer great financial losses in case the irrigation infrastructure is not restored before Kharif," they observed.-Agencies

2

Saturday, February 5, 2011

Ministry of HR development in offing ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani has constituted a Committee to be headed

by Senator Mian Raza Rabbani to restructure and re-define the role of the Federal Vocational and Technical Training Institutions in the light of 19th Amendment to the Constitution.

The Committee will comprise inter alia, of Ms Shahnaz Wazir Ali, Special Assistant to the Prime Minister, Federal Secretary for Labour and Manpower, Secretary Overseas Pakistanis and Executive Director NAVTEC.

The Committee will propose a well-defined plan for training and skills development of the labour force in the country. It will also address issues of capacity of the federal institutions and propose measures to develop national skills standards which are accepted internationally.

The Prime Minister was chairing a Special Meeting on Vocational and Technical Training Programmes at PM's House here on Friday.

The Prime Minister while elaborating his vision to reduce unemployment in the country

said that 60% of young population is our asset and need to be utilized for the benefit of the country.

This human resource, he said, when properly trained and equipped with requisite skills can greatly help to increase production of both the agriculture and industrial sectors.

Similarly, he added trained manpower when exported can immensely add to the foreign remittances.

While expressing his concern for increasing percentage of unemployment, the Prime Minister said that he is seriously considering of forming a

separate Ministry for Human Resource Development. This envisioned Ministry, he said, could have an overarching role ensure proper consumption of trained human resource both within the country as well as abroad.

The Prime Minister said that while Pakistan is annually sending over three hundred thousand workers abroad, most of them are unskilled or semi-skilled. The same manpower, he added, when trained and equipped with skills could increase the remittances by three times.-NNI

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to Governor Punjab Sardar Muhammad Latif Khosa who called on him at PM’s House.-Online

Biztek to participate in edu expo TFD Report

ISLAMABAD: Dr Abdul Hafeez Shiekh, Federal Minister for Finance chairing the meeting with Chief Secretaries regarding flood response cash transfer to the flood affectees.-APP

LCCI amnesty scheme for members Staff Correspondent LAHORE: The Management of the Lahore Chamber of Commerce and Industry Friday announced Amnesty Scheme 2011 for its Corporate and Associate Class members who have discontinued their membership after 2005.

According to LCCI spokesman, all the businessmen/ business houses that were members of the Lahore Chamber of Commerce and Industry in 2004-5 and could not get their membership renewed after that, now can get LCCI membership renewed up to December 31, 2011 by depositing a single fee i.e.

Rs4,100/ for Corporate class and Rs1,600/- for Associate Class instead of paying fee for all the previous years.

The LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar in consultation with the Executive Committee have taken this decision to strengthen the LCCI by bringing more and more businesses into mainstream so that the Lahore Chamber of Commerce and Industry could be able to play its role for stability of the economy.

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

PIAF gives roadmap for revival of economy Staff Correspondent LAHORE: Chairman Pakistan Industrial and Trade Associations Front (PIAF) Sohail Lashari has urged the government to declare 2011 as the year of power generation and initiate work on mega water projects.

In a statement here on Friday, Sohail Lashari said that the Federal Commerce Minister has taken a wise step by coming up with a framework to boost to exports but his decision would only work if he takes the business community into confidence over the planned measures.

He said that the business community has the capacity and ability to jack up the volume of exports to the staggering figure of $50

billion provided they are given the required and desired opportunities and infrastructure.

Giving a roadmap for the revival of economy for year 2011, he urged the government to use all available resources and motivate all segments of the society for turning the economy around. He said that power outages, repeated hikes in petroleum products, electricity rates, gas shortage and unprecedented increase in daily use items had disturbed the whole business atmosphere and a wholesome approach is direly needed to cope with the situation.

To overcome the energy shortage, the PIAF Chairman said that the government would have to adopt the alternate means

KARACHI: Institute of Business and Technology- Biztek, will be participating in the Dawn Education Expo on Feb 6-7 at the Karachi Expo Center. The purpose of this participation is to get the prospective students, their parents and the general public to get to know about Biztek's academic activities and interact with the staff and present students. It is an excellent opportunity for potential students to learn about new programs being offered, the research and development activities taking place and the new state-of-the-art campus that Biztek has to offer, which makes it a model institute for Pakistan. Biztek has been in the education industry as a top-ranking W category institute as per the HEC criteria. It has more than 2500 students currently enrolled at the 4 campuses.

of energy generation besides initiating work on the construction of water reservoirs.

He said that the country could be self sufficient for power generation through solar means. Therefore, the government should come up with a package of incentives so that maximum number of people could be able to use solar equipments.

"Unless and until dependence on thermal power is curtailed, there are hardly any chances of economic revival and precious foreign exchange was being spent on oil import," he added. The TFD Report PIAF Chairman also stressed the need for bringing down the rate of infla- KARACHI: World Cancer tion that has now started Day was observed by Sindh Institute of Urology and taking its toll.

Transplantation (SIUT) at Hanifa Suleman Dawood Oncology Centre on Friday.

Prof. Adibul Hasan Rizvi, Director SIUT, inaugurated the World Cancer Day and narrated the history of develwell positioned to capitalize opment of oncology centre.

He thanked Dawood on this demand. The introduction of Emirates' flights Family and other donors to Basra offers convenient who donated the Hanifa Suleman Dwood Oncology connections to Pakistanis with business interests in Centre. He said since we started urology, we started Iraq."

He added that 'Emirates' treating patients with renal, convenient flight times and bladder, prostate and testicushort connection times lar cancers. Since last four make us an excellent choice years we started separate for corporate travelers to Hanifa Suleman Dawood Oncology Centre.

Basra.

World Cancer Day observed

Kaira urges India to resolve Kashmir issue I S L A M A B A D : Information minister Qamar Zaman Kaira has urged India to lend ears to world demand for resolution of Kashmir issue.

Kaira was talking to media men outside Parliament House Friday.

He went on to say the sacrifices rendered by people of Kashmir would bear fruit.

"We want a lasting and

equitable solution to Kashmir problem. The whole nation is with Kashmiris in their struggle and India can not dampen the spirit of people of Kashmir as this spirit is based on non violence", he remarked.

No party was enjoying majority in the present parliament, he said adding parliament was functioning in better way.

Legislation process is moving ahead on fast track basis, he held.

He said interior minister A Rehman Malik was a hard working and talented person and he was discharging his obligations at his life's risk.

Government was fully alive to the problems facing the people and was taking sincere steps to contain inflation.-Online

No ban on referendum in PIA: Khurshid Shah I S L A M A B A D : Government has no intentions to hamper referendum of PIA rather it has lifted ban on trade unions and initiated polls in various unions which were banned for 14 years.

"No one should doubt as if we are going to bar PIA's referendum...it would be held," Chief Whip of PPP in the National Assembly Syed Khurshid Shah said on Friday.

Shah was allaying concerns expressed by Opposition Leader Chaudhry Nisar Ali Khan, who alleged the government was reluctant to hold referendum in PIA. He spelled out firm resolve of the government to promote trade unions and referendum of different institutions.

"Government has not issued any notification...there is no

security issue (for the referendum)," he added.

Shah attributed the notification barring referendum to the management of PIA, but clearly mentioned Government had nothing to do with that. Earlier, Chaudhry Nisar Ali Khan pointing to a notification expressed fear that government was stepping back from its stance of being supportive of the labourers.-APP

Emirates Airlines first flight arrives in Basra Staff Reporter KARACHI: Emirates Airline has marked its 110th international destination with its inaugural flight to Basra, the airline's first service into Iraq.

According to a press release issued on Friday, Emirates Airline is the largest international carrier to operate services into Iraq, helping link the country to the rest of the world through its convenient connections in Dubai.

Basra is the first new des-

tination for Emirates in 2011 with Geneva to launch on 1st June, followed by Copenhagen on 1st August.

At the launch of the new destination, Badr Abbas, Emirates Vice President for Pakistan and Afghanistan noted that the demand for flights to Iraq was growing amid signs of an economic recovery in that country.

He said, "As foreign firms set up operations in the country there is a high proportion of traffic heading both in and out of Iraq, especially Basra, and we are

It has been a strong year of growth for Emirates and this announcement is further proof of our robust expansion plans, he said.-NNI

SME issues to be tackled on fast-track basis Staff Reporter KARACHI: Yousaf Nasseem Khokar, the newly appointed Chief Executive Officer (CEO) of the Small and Medium Enterprises Development Authority (SMEDA) held a meeting with the Union of Small and Medium Enterprises (UNISAME) mentors committee (MC) to get first hand information about SME issues at a local club.

President UNISAME Zulfikar Thaver , Ali Rahim President Tax Bar Association, Arjumand Qazi CEO of SME Leasing and

Atiqua Vally of Orix Leasing highlighted the SME issues of shortage of energy, harsh taxation, worsening law and order situation, corruption, lack of incentives and financial facilities, poor logistics and lack of co-ordination between SMEDA , PCSIR, Engineering Development Board (EDB), TDAP and TCP and urged SMEDA to play a proactive role and advocate the cause of the sector vigorously.

The union chief and the participants urged the CEO SMEDA to put on fast track the formation of SME

Chamber of Commerce and the SME Liaison Committee (SMELC) on the pattern of the Citizen Police liaison Committee (CPLC) for the benefit of the sector to be managed by SMEDA and the SME associations jointly to curb corruption and expedite industrial growth.

He said the State Bank of Pakistan is making efforts to promote Islamic Banking and the SMEs expect to be facilitated for short term and long term finance by the Islamic banks very soon under the different Islamic mode of financing best suited for the SMEs.

PIA told to improve food on board ISLAMABAD: Senate Standing Committee on Culture and Tourism has directed Pakistan International Airline(PIA) to improve the standard of entertainment programs and food quality in its flights.

The commitee meeting held here was chaired by Senator Nilofar Bakhtiar.

Senator Muhammad Kazim Khan, Senator Salahuddin Doger, Senator Abdul Khaliq Pirzada and Senator Pervaiz Rashid also attended the meeting.

The committee said that the food being provided during the flights does not meet International standard which needs to be improved on immediate basis.-APP

KARACHI: Photo shows Saqib Masood, President, Institute of Charted Accountants of Pakistan and ICAP Council Members with the delegation of Corporate Social Responsibility Development Center, Iran.-Staff Photo

Iranian delegation visits ICAP TFD Report KARACHI: Pakistan Institute of Corporate Governance (PICG) recently hosted a delegation from Corporate Social Responsibility Development Center (CSR-DC), Iran for a study tour to Pakistan.

CSR-DC intends to introduce principles of good corporate governance in the Iranian corporate sector and for this reason had approached PICG for assistance in capacity building.

According to a press release issued here on Friday, the Study Tour aimed at providing the delegation the opportunity to meet and interact with prominent businesses and corporate leaders who have

helped implementation of good governance practices in their respective organizations. Keeping in mind the instrumental role of the Institute in initiating and implementing corporate governance in Pakistan, Institute of Chartered Accountants of Pakistan (ICAP) member and the President of PICG Fuad Azim Hashimi arranged for the delegation to visit ICAP as a part of the Study Tour.

The delegation comprising representatives from Business Sectors, Private sectors, NGOs and Academia visited ICAP recently. The delegation met with the President Saqib Masood, Vice President Zahid Bhatti, Council members Khalid Rahman, Yaqoob Suttar,

Nadeem Yousuf Adil and the Secretary and Directors of the Institute.

Saqib Masood welcomed the guests and expressed his appreciation for the efforts of the CSRDC. He highlighted the importance of good governance citing it to be the propeller to robust economic and business environment and gave a presentation about the Institute, its functions and working and the achievements. Khalid Rahman gave a presentation on initiatives taken on Corporate Social Responsibility followed by an active question and answer session. Saqib Masood assured the delegation of support and cooperation from ICAP in future.

3 Saturday, February 5, 2011

Greenback rallies as US jobless rate slips

Previous Day

Longer-term outlook may still favour euro NEW YORK: The dollar rose against the euro on Friday after the US jobless rate fell to its lowest level in nearly two years, and traders said a brightening US economic outlook may help it extend gains in the weeks ahead.

The euro fell as low as $1.3544, and traders said a break through firm support at $1.3570 suggested a three-week euro rally may be showing signs of exhaustion.

The euro was last 0.4 per cent lower at $1.3577, headed for its first three-day decline in more than a month.

"We haven't seen a three-day slide since the euro's January rally began, and it was looking overbought this week, so we seem to be in correction mode," said BNP Paribas technical strategist Andrew Chaveriat, adding the euro could test

$1.35 in coming days and $1.3250$1.3350 over the next few weeks.

The euro peaked this week at $1.3862, the highest in nearly three months, but slid after the E u r o p e a n Central Bank cooled expectations for a nearterm hike in euro-zone interest rates.

Recent US data, capped by the jobless rate's slide to 9 per cent from 9.4 per cent, pushed up US yields and had markets pricing in a two-in-three chance of a US rate hike by year end, up from one in three a week ago.

With the rate differential shifting in the dollar's favor, the greenback also rose 0.4 per cent to 81.99 yen and 1.1 per cent to

0.9555 Swiss francs.

Trading on electronic trading platform EBS posted an unofficial volume record with 2,990 foreign exchange trades recorded in the minute after the release of the jobs data. Some 12,000 deals were recorded in the 10 minutes after the

Indian rupee flats; US jobs data watched MUMBAI: The rupee ended steady on Friday as dollar inflows were offset by losses in domestic shares and a weak euro, but US jobs data due later this evening was eyed for further cues.

The partially convertible rupee closed at 45.5950/6050 per dollar, little changed from Thursday's close of 45.60/61, after touching an intraday low of 45.70.

"In the market there was some amount of inflows that aided the rupee. Otherwise, it could have declined further," said Rohan Naik, head of foreign exchange trading at Standard Chartered Bank in Mumbai.

Foreign institutional investors

bought Indian shares worth $145.04 million on Thursday, after being net sellers in the previous five sessions.

Foreign investors have pulled out $1.35 billion from Indian shares this year until Feb. 3, on concerns over high inflation.

On Monday the rupee is unlikely to fall beyond 45.75 per dollar, a broker with a state-run bank said, explaining that dollar inflows would support the unit.

Indian shares declined for the fourth week in five, shedding 2.4 per cent in choppy trade on Friday, as worries of continued high global oil prices worsening the domestic inflationary pressures hit investor sentiment.

India's food inflation acceler-

ated for the second straight week on rising prices of onions and petrol, putting pressure on headline inflation and reinforcing expectations of more monetary action this year.

One-month offshore nondeliverable forward contracts were quoted at 45.78, weaker than the onshore spot rate, indicating a bearish outlook for the rupee. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and the MCX-SX and the United Stock Exchange were at 45.7500, 45.7500 and 45.7575, respectively, with the total traded volume at $4.12 billion. -Reuters

Sterling dips on profit taking after US numbers LONDON: Sterling dipped on Friday, stumbling against a broadly rallying dollar in volatile trade after a fall in the US jobless rate p r o m p t e d investors to book profits on the pound's new year rally against the US currency.

The dollar jumped against most major currencies, bolstered by climbing Treasury yields after a fall in the unemployment rate to 9 per cent last month from 9.4 per cent in December added to the argument that the US economy is recovering.

The pound relinquished early gains made after a Halifax survey showed UK house prices

unexpectedly rose 0.8 per cent last month, well above forecasts for a flat reading.

"The slight pullback in Cable has a lot more to do with the dollar and with interest rate differentials moving in the dollar's favour, than anything specific to do with sterling," said Michael Derks, strategist at FXPro. He added: "Those who have been long Cable in the first half of the week made very good money, so

Aussie dollar surges to 1-mth high on upbeat RBA SYDNEY/WELLINGTON: The Australian dollar soared to a one-month high on the US dollar Friday and surged against the euro, as an upbeat outlook from the country's central bank led investors to price in higher interest rates.

The Australian dollar surged to a month-high at $1.0190, up 3 per cent in the week, making the Aussie the star performer of all the major currencies.

The currency, which was already flying high in early trade after an overnight rally, received another boost when the Reserve Bank of Australia (RBA) played down the drag from floods and predicted strong growth at home and globally over the next couple of years, leading investors to price in higher interest rates ahead.

Markets are now pricing a 38 basis points of tightening in the next 12 months, up from 20 early this week when Cyclone Yasi was

bearing down on Queensland. In the end, Yasi did less damage than feared and the rebuilding task will only add to growth going forward.

"Given that every major central bank is looking to keep rates on hold... this adds to the appeal of the Aussie," said David Scutt, a currency trader at Arab Bank Australia.

He expects a rate hike in May or June, and possibly another one later in the year.

The RBA estimated that while the recent floods in Queensland would trim gross domestic product (GDP) growth by around 0.5 percentage points this quarter, rebuilding would then lift annual growth to a rapid 4.25 per cent by yearend. The central bank left its cash rate unchanged at 4.75 per cent at its February board meeting this week, having previously hiked by 175 bps since October 2009.Reuters

there's a paring back of those positions."

Some analysts said sterling's correction may continue into next week as some investors believe the currency's rally in past weeks on growing speculation for a UK interest rate rise may have been slightly overdone.

But overall, market participants expect sterling to be supported as solid UK economic data this week and hawkish Bank of England comments have left may investors thinking UK rates may rise from a record low 0.5 per cent, possibly by mid-year.-Reuters

Rouble retreats from 9-mth peak as oil falls tions are expected to be increased.

"It is possible that market participants will become more cautious as we approach levels where the central bank could buy more foreign currency, constraining the rouble," said Mikhail Azizbayev, dealer at Metallinvestbank.

The rouble added 0.12 per cent against the euro to 40.11, as the single European currency came under broad pressure after the ECB poured cold water on expectations of a near-term interest rate hike.

In contrast, Russia's central bank is clearly worried about surging inflation and widely expected to tighten policy in coming months, boosting the rouble's yield appeal.

Outside factors, high oil prices, and a pause in the euro's rally this month still speak in the support of the rouble, Anton Zakharov, Promsvyazbank analyst, said in a note. -Reuters

Swiss franc declines on better EU fundamentals ZURICH: The Swiss franc fell against the euro on Friday as investors turned their focus to strong eurozone economic fundamentals from dashed hopes of a possible European Central Bank rate hike in coming months.

The euro was on the defensive on Thursday after ECB President Jean-Claude Trichet poured cold water on expectations for a near-term rate hike, wrong footing bulls who had expected more tough talk on inflation.

Events

CNY GBP EUR CAD CAD USD USD USD CAD

Bank Holiday Halifax HPI m/m Italian Prelim CPI m/m Employment Change Unemployment Rate Non-Farm Employment Change Unemployment Rate Average Hourly Earnings m/m Ivey PMI

Actual

Forecast

0.8% 0.4% 69.2K 7.8% 36K 9.0% 0.4% 41.4

-0.2% 0.3% 18.9K 7.6% 138K 9.5% 0.2% 53.4

Previous

-1.1% 0.4% 30.4K 7.6% 121K 9.4% 0.1% 50.0

Currencies Rate

release. Records become official 24 hours after they're set.

If the euro closes below $1.3570, Dolan said a move to $1.33 was possible in the weeks ahead. The next downside target was around $1.3526, the 100-day simple moving average.

Despite recent stronger-than-expected data on US factory and service sector activity, some analysts say the market may be getting ahead of itself. Dan Cook, senior analyst at IG Markets in Chicago, noted US employers added a paltry 36,000 jobs in January, though bad weather may have had an impact.

"These numbers are not supportive of the dollar," he said. "They mean the Fed is going to stay around. Look for some profit-taking." -Reuters

MOSCOW: The Russian rouble eased from the previous day's 9-month peaks on Friday, tracking a retreat in oil prices but still on track for its best weekly showing since May thanks to crude prices topping $100.

By 0816 GMT, the rouble was down 0.2 per cent on the day at 29.44 per dollar, moving away from the 29.27 mark set the previous day but still up 1.2 per cent on the week.

Brent crude oil lost more than $1, but remained at historically high levels of nearly $102 a barrel, promising higher budget revenues and stronger economic growth for Russia, the world's top crude producer.

Against the basket of 0.55 dollars and 0.45 euros, used to guide the exchange rate policy, it eased to 34.24, holding at levels where dealers say the central bank carries out smallscale daily dollar purchases.

Beyond 34.00, such interven-

Source

"All the lead indicators are pointing to a very robust economy in euro land and PMI services have risen not just in the core but also on the periphery of euro land and this has boosted confidence in the euro," Sarasin analyst Ursina Kubli said.

The franc was down 0.1 per cent against the euro compared to the New York close, trading at 1.2905 per euro at 0825 GMT. The franc 0.1 per cent lower against the dollar at 0.9465 per dollar.-Reuters

Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold

As per 22.00 PST Ask High 1.3565 1.3675 0.9570 0.9572 1.6062 1.6171 0.9872 0.9930 1.0178 1.0199 111.0600 111.5000 0.8450 0.8477 1.2983 1.2992 131.5000 131.9400 85.5700 86.3500 1357.4100 1357.9800

Bid 1.3562 0.9566 1.6058 0.9868 1.0174 111.0200 0.8447 1.2978 131.4400 85.5100 1356.4000

Low 1.3547 0.9453 1.6039 0.9833 1.0142 110.7900 0.8426 1.2882 131.0200 85.4800 1346.5000

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 04/02/2011 A USD GBP CAD EUR JPY O/N 0.23690 0.55688 0.95833 0.35125 SN 0.10938 1WK 0.25300 0.57313 1.00000 0.83000 0.11625 2WK 0.25800 0.57813 1.03583 0.84000 0.11813 1MO 0.26275 0.60438 1.08000 0.85250 0.13000 2MO 0.28700 0.67188 1.14750 0.90875 0.15563 3MO 0.31150 0.79188 1.20917 1.03375 0.19000 4MO 0.34975 0.87125 1.27583 1.09875 0.24313 5MO 0.40800 0.97500 1.34000 1.18250 0.30000 6MO 0.46125 1.09500 1.40667 1.27625 0.34625 7MO 0.51500 1.17350 1.49333 1.33125 0.39375 8MO 0.56700 1.26000 1.56667 1.38875 0.44188 9MO 0.62300 1.34313 1.63083 1.44625 0.48750 10MO 0.67550 1.42188 1.72250 1.49625 0.51438 11MO 0.73030 1.49000 1.80583 1.54625 0.54125 12MO 0.79125 1.55875 1.90000 1.60500 0.56750

Major Central Banks Overview Central Bank

Next Meeting

Bank of Canada March 1, 2011 Bank of England February 10, 2011 Bank of Japan February 14, 2011 European Central Bank March 3, 2011 Federal Reserve March 15, 2011 Swiss National Bank March 17, 2011 The Reserve Bank of Australia March 1, 2011

Last Change September 8, 2010 March 5, 2009 December 19, 2008 May 7, 2009 December 16, 2008 March 12, 2009 November 2, 2010

Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%

Division of National Bank of Pakistan (NBP) KARACHI, February 04,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

85.60 138.11 116.72 86.40 90.43 87.17 13.22 1.05 14.92 67.20 15.66 22.82 10.99 13.06 326.03 28.13 66.22 23.53 23.31 0.08 2.78

85.40 137.78 116.45 86.20 90.22 86.97 13.19 1.05 14.88 67.04 15.62 22.77 10.97 13.03 325.27 28.06 66.07 23.48 23.25 0.08 2.77

85.22 137.47 116.17 85.97 89.99 86.74 13.15 1.04 14.84 66.86 15.58 22.71 10.94 12.99 324.42 27.99 65.89 23.42 23.19 0.08 2.76

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 04, 2011

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 12.25 12.55 12.70 13.04 13.34 13.48 13.50 13.60 13.72 14.05 14.15 14.18 14.22 14.23 14.24 14.25 14.26 14.27 14.60 14.80 14.90

BMA 12.30 12.70 12.80 13.05 13.32 13.50 13.56 13.65 13.74 14.10 14.25 14.25 14.28 14.30 14.30 14.25 14.15 14.26 14.45 14.60 14.75

ELXIR 12.30 12.60 12.75 13.05 13.37 13.45 13.54 13.66 13.76 14.08 14.23 14.24 14.25 14.29 14.32 14.25 14.20 14.27 14.60 14.78 15.00

GSL 12.20 12.60 12.70 13.05 13.38 13.49 13.58 13.66 13.70 14.00 14.23 14.25 14.26 14.28 14.30 14.30 14.20 14.29 14.65 14.90 15.10

ICSL 12.25 12.65 12.90 13.10 13.25 13.45 13.50 13.60 13.70 14.05 14.22 14.22 14.23 14.30 14.35 14.23 14.20 14.25 14.55 14.75 15.00

JSCM 12.25 12.65 12.80 13.15 13.38 13.50 13.58 13.65 13.75 14.00 14.22 14.20 14.23 14.27 14.33 14.26 14.21 14.29 14.70 14.85 15.00

AvgRate 12.26 12.63 12.78 13.07 13.34 13.48 13.54 13.64 13.73 14.05 14.22 14.22 14.25 14.28 14.31 14.26 14.20 14.27 14.59 14.78 14.96

4 Saturday, February 5, 2011

Pak-US relations & Raymond Davis Case

The Financial Daily International Vol 4, Issue 173

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board S. Muneer Hussain Rizvi

Haseeb Khan, FCA Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com

Resolve Kashmir issue before it is too late The recent upsurge in many countries is likely to push Kashmir issue very low on the priority list of those who control the UN and claim to be the champions of human rights. If they have some vested interest countries are attacked, regimes are toppled and countries are divided. Otherwise nothing happens and no action is taken against the country committing the worst violation of human rights.

When the British Raj decided to quit the subcontinent they left may things undecided worst being Kashmir. The super power paved way for the creation of Israel, allowed it to occupy areas of Muslim countries for nearly five decades, construction of settlements on the occupied land. They played a major role in converting East Pakistan into Bangladesh and are now busy in execution of the plan to divide Sudan.

However, they raise no voice against extremists Hindus who say, "We will not allow another division of India on the basis of religion while referring to plebiscite in Kashmir."

Kashmiries have been demanding for more than six decades that they don't wish to live under Indian dominance. India alleges that Pakistan is supporting the freedom fighters and the two countries have fought two wars, at least in Kashmir. It is evident that India does not wish to let Kashmir become independent mainly because of various rivers originating from there. India also wishes to keep area under its surveillance to monitor movement of traffic between Pakistan and China via the Silk Route.

Over the years Both India and Pakistan have been trying to occupy the full area but lately the whisper has got louder about creation of an independent Kashmir. Ironically in certain areas Muslims have majority and some areas have Hindu majority. Therefore, the idea of a unified Kashmir becomes a permanent flash point and the division on the basis of religion is not acceptable to Hindus. The situation has become a major source of concern for the peace lovers because both India and Pakistan have attained the status of 'atomic powers'. Both the countries have accumulated tons of lethal conventional weapons and religious extremism is on the rise in both the countries. Till today they have been accusing each other of cross border terrorism and the probability of counters on borders increases when the situation in Kashmir becomes volatile.

These super powers attacked Iraq on the hoax call of weapons of mass destruction, invaded Afghanistan on the presence of Osama, changed regime in Tunis and are now working for the change of regime in Egypt. Have they ever realized that Kashmir and Palestine issue also needs to be resolved? Apparently they seem least bothered about these areas because these are human rights issue and nothing like crude oil, precious metals or even opium is present at these two places.

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.

Hamid Waheed

P

akistan and America, the front line coalition partners presently having maximum resources and in future having optimum stakes in the war against terror, continue to work under an environment of increasing mistrust. Three stakeholders among both countries the government, the army and the people hoping for a better tomorrow are pulled back to more confusion by daily happenings. An invisible hand plays intelligent and uses elements from within these stakeholders to increase mistrust and achieve their agenda. Whereas it is of importance for Pakistan to be careful, the responsibility mainly lies on the US to closely monitor its actions which have much larger implication not only for Pakistan but for the region and on the international forum. The perceptions are built on half truths and are reinforced after failure to timely satisfy the three stakeholders.

The terrorists derive their power through unity and synergise their efforts, whereas collation partners keep distancing from each other in this battle of hearts and minds. Pakistan continues to live in an atmosphere of working relationship with a partner who is more of a boss. A boss which only has its own objectives and goals to pursue and the ethics and rule of game are there to only benefit the boss. The recent incident of killing of three Pakistani citizens by an American Raymond Davis living in US embassy on short-term entry visa and handling of same by US embassy is not the first of its kind.

The US embassy has asked Pakistan to hand over Raymond Davis to US and provide him with diplomatic immunity.

Diplomatic immunity is a form of legal immunity and a policy held between governments that ensure that diplomats are given safe passage and are considered not susceptible to lawsuit or prosecution under the host country's laws. It was agreed as international law in the Vienna Convention on Diplomatic Relations (1961). Many principles of diplomatic immunity are now considered to be customary law. Originally,

these privileges and immunities were granted on a bilateral, ad hoc basis, which led to misunderstandings and pressure on weaker states. Various international agreements known as the Vienna Conventions codified the rules and agreements, providing standards and privileges to all states. It is possible for the official's home country to waive immunity; this tends to happen only when the individual has committed a serious crime, unconnected with their diplomatic role. Alternatively, the home

“

Moreover, shooting in self-defence is logical to bodily harm and make him ineffective for some time. If you kill, you will go to prison for either manslaughter or a second-degree murder. In the regional context such twisting of self defence was also applied in September 2010 when NATO helicopters based in Afghanistan carried out at least two airstrikes in Pakistan that killed more than 50 persons after the insurgents attacked a small Afghan security outpost near the border

country may prosecute the individual.

Raymond Davis stated that he shot and killed Pakistani citizens in self defence as they were poised to rob him.

Self-defence has long been discussed and debated among international legal scholars. Although the text of Article 51 explicitly provides only for "the inherent right of individual or collective selfdefence if an armed attack occurs," over the years, scholars have expanded the required trigger for self-defence to include both when an armed attack occurs and when an armed attack is imminent. The legal definition of "imminent" has grown out of an 1837 incident in which British troops attacked the ship Caroline, which US citizens were using to take supplies to Canadian rebels fighting the British

KASHMIR DAY! In the annals of history, Kashmir holds a unique position. For its captivating, mesmerised and awestruck scenic beauty, rivers, lakes, mountains,delicious and sweet fruits, bounty of beauty of its people and Sufis' Shrines.

Today is Kashmir Day! On 5th February we affirm our moral support to the Muslim brethren of Indian held Kashmir. Kashmiris are awaiting plebiscite ensured

by United Nation's resolutions that will decide their fate to live with Pakistan or India. Despondently! nothing practical has been done so far for settlement of this issue for which both countries have fought three wars. This situation forced Kashmiris and they took the liberation movement in their hands and stood against Indian atrocities.

Kashmiri youth matchless courage and tens of thousands embraced martyrdom. Their ordeal still continues. Now,

these innocent people are butchered, killed, humiliated all the time. Their rights have been usurped, women are molested, youth face extrajudicial killings, horror and terror prevails throughout the valley, and the human right activists are dumb and deaf.

In order to realize "Aman ki Asha", the core issue of Kashmir needs to be redressed according to will of Kashmiris. From Times immemorial, oppression and suppression has remained part of Rulers and governments, but in the end justice is done to oppressed ones by Lord of the lords. Tyranny cannot go along for a long time. World is taking turn. Nations are awaking and rising against dictators and usurpers and Insha Allah, soon a time will come when Kashmir will be freed from the tyrant rule of India.

IFTIKHAR SHAHEEN MIRZA, ISLAMABAD

Churchill & Creation of Pakistan "Power will go to rascals, rogues, freebooters… All leaders will be of low caliber and men of straw…They'll have sweet tongues AND silly hearts...They will fight amongst themselves for power and the two countries will be lost in political squabbles…A day would come when even air and water will be taxed."

These are the words from the quotes of Sir Winston Churchill, the World War fame British Prime Minister, who expressed his optimism

rule. In a much-quoted analysis of the confrontation years later, the thenSecretary of State, Daniel Webster argued that the use of force in selfdefence is justified when the need for action is "instant, overwhelming, and leaving no choice of means, and no moment for deliberation." Webster's criteria subsequently became the standard in international law.

Moreover, shooting in self-defence is logical to bodily harm and make him ineffective for some time. If you kill,

on his independent judicial system at the peak of war: "Are our courts dispensing justice", he asked, and the reply came "yes". "Then Britain will not be defeated", he replied and his words became history.

Isn't today what the wisdom of Churchill foresaw 64 years ago about the newly born Pakistan, proved to be true?

Certainly incredibly we have worked very hard to prove him right. Haven't we?

Marya Mufti, Lahore

you will go to prison for either manslaughter or a second-degree murder. In the regional context such twisting of self defence was also applied in September 2010 when NATO helicopters based in Afghanistan carried out at least two airstrikes in Pakistan that killed more than 50 persons after the insurgents attacked a small Afghan security outpost near the border. NATO justified the strikes based on "the right of self-defence." On issue of drone attacks a law professor at the University of Notre Dame, Mary Ellen O'Connell, argued that the drone strikes were completely outside the law of self defence.

Talking at a leading London think-tank 'Chatham House Centre' she said the pursuit of al-Qaeda and Taliban extremists should be a law enforcement issue,

not a military one. "The strongest conclusion is that there is no legal right to resort to drone strikes in Pakistan, Yemen, Somalia and elsewhere where the US is not involved in armed conflict." She was particularly critical of strikes by the US Central Intelligence Agency in the north-western tribal zone of Pakistan which borders Afghanistan.

Contrary to the above, in case of Dr. Aafia Siddiqi, she was arrested and taken to an Afghan police station where four Americans - two military and two FBI agents - rushed to "question" her through interpreters. The FBI and military claim that they were taken to a room that had a curtain at one end and that they did not know that Dr Siddiqui was lying asleep on a bed at the other side of the curtain. They entered the room and one of the military persons said he laid his weapon down. Dr Aafia got up, grabbed the weapon, yelling obscenities and that she wanted to "kill Americans, she fired the rifle twice, missing everyone in the small room - in fact she even missed the walls, floor and ceiling since no bullets from the rifle were ever recovered. Then one of the Americans shot her twice in the stomach "in self-defence." She was convicted by a jury and sentenced to 86 years.

After 9/11, globally there have been numerous false "terror" alerts leading to the capture and torture of hundreds of innocent individuals. It is hard for the world to believe that Colin Powell paved the way for the invasion of Iraq on faulty intelligence. In the regional framework the three stakeholders on Pakistan side PM Gilani, COAS Kayani and Pakistani public face an uphill task to convince each other and synergize efforts in war on terror. Strategically they see disparity in US civil nuclear policy and carry concerns over US understanding of future Afghanistan. In handling of Raymond Davis like issues they find heart breaking and mind boggling US policies. The US and Pakistan must understand that its war of hearts and minds and success only depends in mutual understandings which will come through sincere actions.

Need of the hour for Pakistan People of Tunis and Kyrgyzstan raised voices against government and marched on the roads; in dominoes. With it Egyptian people also do that and are going to succeed. By these situations many voices rise inside Pakistan that Pakistan also needs such kind of revolution to get rid of its problems. This is questionable that whether Pakistan needs this or not and if yes then how can it enable to cope with the problems?

There are basically two major factors that lead to the revolutionary movement in Egypt, first is political suffocation and the other is inflation.

So, there is a huge difference between Pakistan and the Egypt on the basis of first factor "political suffocation". In Egypt government was on the rule for several decades and there was no chance to be overthrown. So people marched to take revenge for their poor condition and to overthrow the government .they are hopeful that the new government may better work for the betterment of their livelihood. But they do not know that those who are overthrown and those who will be given power would be sponsored by a foreign power as, the current government which now seems bad was good in the eyes of US. And now US is supporting the revolutionary movement against those good.

In Pakistan there is no political suffocation as Pakistan is facing political instability from the start and the civilian government is liked by people rather than dictatorship. So in these days there is civilian rule and those who are willing to overthrow the current government and propagating revolution like Egypt are not wellwishers of Pakistan but they only want to rule in Pakistan by sitting abroad. They will come to Pakistan on visit visa to spend holidays like the current government. So for whom people will

march? People of Pakistan did this in history against Ayub Khan on the call of Zulfikar Ali Bhutto and then second time against Zulfikar Ali Bhutto in 1970s and recently for lawyer's movement. But to overthrow the government is not the solution of the day as we have learnt from history.

Second factor is Inflation which is common in Pakistan and Egypt as well. But the question is that whether the new government of Egypt can work against inflation as common factor in politics are new faces but same psychology and Pakistan is a great example for that. New mask would surely made by USA. Egypt will learn through experience in future but Pakistan has already experienced it. So, how can we trust to new face? Another thing which is very different in both Egypt and Pakistan is the situation and environment. People in Pakistan cannot come out of homes because of the fear of terrorism and no clear cut solution for their problems.

The need in Pakistan is to raise civic sense within the masses that the people who can raise voice belong to middle class or elite class and they are mute against inflation because the can afford it. The do not think about those who are lower to them and this is the major problem and needs to be cured. Need of the day is to raise voice against inflation and not against the government. We are responsible for our present condition not our government. For 1% price rise we do not bother that and now when it reached at the level of 1+1=11 then we are blaming the government. Instead of blaming government we should look at ourselves that what we are. We should raise right voice otherwise the result would be disastrous.

Sobea Tabbasum, Chakwal

US & Democracy While Hillary Clinton has called for an 'orderly transition' in Egypt, this now appears too little, too late. It is interesting to note that US has not been consistently vocal about the fact that since 1967, Egypt had been ruled under Emergency Law and still had been a major beneficiary of US aid.

Another discrepancy in US stance of supporting democracies in the region appears in Algeria where Islamic Salvation Front swept elections in early 90s but was not allowed to take power, yet the US supported this exclusion which James Baker admitted - 'We recognized that this was somewhat at odds with our support of democracy'.

Not only in Algeria, US had been at odds with democratically elected governments in Palestine, Iran and Lebanon as well. After Hamas gained decisive victory in 2006 elections

of Palestine, not only the international assistance was cut-off by US and EU, but even Palestine's own national monthly tax and customs receipts collected by Israel was withheld.

In Iran, US media extensively covered and hyped 'soft revolution' against democratically elected Ahmadinejad government. And in Lebanon, ouster of West-backed Saad Hariri who was replaced by Hezbollah-backed candidate Najib Mikati recently as prime minister made US apprehensive prompting Hillary Clinton to declare 'A Hezbollah-controlled government would clearly have an impact on our bilateral relationship with Lebanon. Its high time for US to reconsider its policy of selective support of democracies throughout the world.

Nizar Ali, Karachi

5

Saturday, February 5, 2011

Middle East stocks

Developed countries stocks win investor favor in week: EPFR

Indonesia up after rate rise; PTTEP leads Thai up

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

Hopes pinned on chairman SECP visit 12,359.06 12,415.35 56.29 0.46 131.72

Wall Street KSE apex slips after mixed January index stands jobs report above 12,400pts

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

3,781.38 3,791.92 10.54 0.28 3.81

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

Nawaz Ali

3,047.54 3,056.41 8.87 0.29 0.14

Major Gainers

Close

Change

RMPL 2,420.30 ULEVER 4,385.65 COLG 960.00 BATA 642.11 LAKST 277.75

Symbol

70.88 35.60 24.99 13.11 12.68

Major Losers

Symbol UPFL SFL ILTM SITC TRIPF

Close

Change

1,105.09 108.21 104.55 112.56 132.77

-54.92 -5.69 -5.5 -5.44 -5.14

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA BOP NCL ANL JSCL

16.38 8.36 25.79 11.28 11.59

35.36 8.59 8.13 6.36 4.32

Active Issues Plus Minus Unchanged

200 161 18

Sector Updates FERTILISER 000 tonnes

Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)

33,929 32,092 7,087 6,813

INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753

HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0

BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%

OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)

PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)

932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1

Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046

US stocks early-trade

FRANKFURT: Paris Hilton poses at the Frankfurt Stock Exchange during her Rich Prosecco promotion tour.-Reuters Nikkei at 2-week high,

European shares gains on mixed US jobs data

Steel sector merger boosts mood TOKYO: The Nikkei average rose to a two-week high on Friday, after a planned merger of two steel firms lifted hopes for restructuring in corporate Japan and provided fresh momentum for the benchmark which had been widely seen as due for a correction.

Better-than-expected results or annual guidance from the likes of Sony Corp, Hitachi Ltd and Softbank Corp, as well as encouraging US chain store sales data also bolstered sentiment with foreign investors detected piling into major high tech shares.

Shares in Sharp Corp also jumped after an industry source told Reuters it is negotiating liquid-crystal display panel supply deals with Samsung Electronics of South Korea and Taiwan's Chimei Innolux.

Nippon Steel Corp and Sumitomo Metal Industries said they would merge to create the world's second-largest steelmaker to better fend off Asian rivals, sending their stocks and others in the sector sharply higher.

"The news will likely raise expectations that more Japanese companies will seriously try to increase their competitive edge in the global market," said Shinichiro Matsushita, a senior market analyst at Daiwa Securities.

The benchmark Nikkei ended the day up 1.1 per cent, or 112.16 points, at 10,543.52, its highest level since Jan. 19 and not far off this year's intraday high of 10,620.57 hit on Jan. 13, which has become the benchmark's immediate target.

It rose 1.8 per cent on the week.

The broader Topix gained 0.8 per cent to 935.36. Volume also hit a two-week high, with 2.56 billion shares changing hands on the Tokyo stock exchange's first section, comfortably topping last week's daily average

of 1.92 billion shares.

The Nikkei has gained 15.2 per cent on foreign buying since last November and many market participants had expected a correction before more gains.

But the merger deal, accompanied by hopes for more strong data from the US, will probably lift the Tokyo market earlier than expected with the benchmark set to pierce its year-todate high as early as next week, analysts said.

"I had expected that the Nikkei would refresh its yearto-date high around the end of March, but it may happen earlier thanks to active corporate consolidation in the domestic market," Mitsushige Akino, a fund manager at Ichiyoshi Investment Management said.

SHARP SPIKES Nippon Steel surged 9.1 per cent to 313 yen, while Sumitomo Metal soared 16.1 per cent to 224 yen to become the two biggest percentage gainers on the Nikkei.

Sony rose 1.8 per cent to 2,919 yen after better-thanexpected earnings for the October-December period. Its operating profit was 137.5 billion yen ($1.7 billion) in the quarter, compared with analysts' average forecast of 127 billion yen.

Electronics conglomerate Hitachi climbed 3 per cent to 487 yen and hit its highest since November 2008 after raising its annual outlook above market expectations, as cost-cutting and robust revenue in emerging markets helped quarterly operating profit nearly double.

A key focus for the market is much-anticipated January US non-farm employment report with an estimated increase in jobs of 145,000 from economists polled by Reuters.

Advancing shares outpaced declining ones by 1,168 to 351.

Reuters

ANNOUNCEMENTS Company Fauji Cement Gharibwal Cement

Period

Div/Bon/Right - 92%(R) Yearly -

PAT (Rs in mn) -1,027.49

EPS(Rs) -4.43

LONDON: European shares ended slightly higher on Friday after paring gains on a mixed US jobs report, while construction stocks remained among the top gainers thanks to an improving outlook.

US non-farm payrolls data for January came in much lighter than expected, with just 36,000 jobs added, although the jobless rate fell to its lowest level since April 2009, a conflicting report that took markets some time to digest.

After selling off slightly on the initial numbers, released prior to the US open, the FTSEurofirst 300 traded flat after US markets opened lower, before recovering to end up 0.2 per cent at 1,165.27 points.

"People are debating whether the report was weak or strong," Ryan Wang, economist at HSBC, said. "I think it was actually quite a strong report, and am focused on the decline in the unemployment rate."

The index had closed flat Thursday, recovering from lows after strong US service sector and weekly jobs data, and nonfarm payrolls had been expected to support the trend.

In spite of the late selloff, construction stocks stayed among the top gainers and the STOXX Europe 600 Construction & Materials index ended up 1.8 per cent, led by a 10 per cent gain for Finnish builder YIT on a strong outlook, buoyed by demand for new flats in Russia and Finland.

Elsewhere in the sector, Swedish lock maker Assa Abloy gained 2.6 per cent ahead of its results due for announcement on Monday.

A recent run of results from sector peers such as Ambuja, ACC, Cemex and Vicat were supportive, said UBS analysts in a note, highlighting Heidelberg Cement, up 3 per cent, as its top pick.

On the blue-chip ESTOXX 50, which closed up 0.3 per cent, technicals point to further upside, said Philippe Delabarre, analyst at Parisbased Trading Central.

See # 14 Page 11

KARACHI: Positive activities continued at the Karachi Stock Exchange on Friday as investors bought shares over hopes of an early launch of Margin Trading System (MTS).

The benchmark KSE-100 index increased by 56 points to close at 12,415 levels, KSE30 index rose by 54 points to close at 12,095 and KSE allshare index grew by 38 points to close at 8,603 points.

"Bullish activity witnessed ahead of SECP chairman consent on visit to KSE on to review approval of MTS", said Ahsan Mehanti, Director Arif Habib Investments.

Higher global commodity prices and expectation of early launch of leverage products played a catalyst role in positive close at KSE, he added.

The day started with 3 points up, index then witnessed some mix activities for about one hour after that some profit taking sent the index down into the negative zone. However, losses remained restricted as index didn't go below 12,344 points (-ve 14) as renewed buying was witnessed mainly in banking and textile stocks at lower levels on hopes of launch of margin trading system soon and on the expectations of strong corporate results., Therefore, index bounced back into the positive zone and closed the first session at 37 points up.

Chairman SECP Mohammad Ali would be vis-

iting exchange on Monday to meet the members and also to attend the first meeting of 2011 of the KSE Board of Directors. According to experts the proposed meeting raised expectations of an early launch of the much awaited leverage product.

Positive activities further increased during the second session where at about 2:33 PST index touched an intraday high of 12,442 points (+ve 83). Though, some profit taking at higher levels reduced the index gains but it managed to end the session above 12,400 levels.

Furqan Punjani, analyst at Topline Securities said that higher cotton prices induced investors to build up fresh positions in LOTPTA followed by NCL where the scrip closed on its upper circuit breaker. Along with textile, banking sector was also in limelight in anticipation of better results.

Volumes were slightly higher as 131.7 million shares traded during the day which were 8.4 million shares more as compared to a turnover of 123.3 million shares a day earlier.

Lotte Pakistan emerged the volume leader with 35.36 million shares exchanging hands followed by Bank of Punjab with 8.59 million shares and Nishat Chunian with 8.13 million shares.

Out of total 379 active issues; 200 advanced and 161 declined while 18 issues remained unchanged.

NEW YORK: US stocks slipped on Friday after a mixed payrolls report showed that while the unemployment rate dropped sharply last month, the number of new jobs barely grew.

Major indexes faced resistance after the Dow opened above the 12,000 mark for a third consecutive day. US employment rose by a meager 36,000 jobs in January, far less than expected, but the unemployment rate fell to its lowest level since April 2009.

"Despite the general bullishness in the market, we've been trading sideways for a while" because the market needs a small pullback to move beyond the technical ranges, said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.

The Dow Jones industrial average was down 22.93 points, or 0.19 per cent, at 12,039.33. The Standard & Poor's 500 Index was down 3.31 points, or 0.25 per cent, at 1,303.79.

The Nasdaq Composite Index was down 0.70 points, or 0.03 per cent, at 2,753.18.

Both the Dow and the S&P 500 remained near their 2 1/2year highs reached last Tuesday.

"From a short-term perspective, the Dow has resistance at the 12,050 level and support at the key 12,000 region," said Joseph Hargett, analyst at Schaeffer's Investment Research in Cincinnati, Ohio.

Hundreds of thousands of Egyptians marched peacefully in Cairo on Friday to demand an immediate end to President Hosni Mubarak's 30-year rule.

Reuters

Indian shares at fresh 5-month low MUMBAI: Indian shares declined for the fourth week in five, shedding 2.4 per cent in choppy trade on Friday, as worries of continued high global oil prices worsening the domestic inflationary pressures hit investor sentiment.

Earlier on Friday, Indian Prime Minster Manmohan Singh said high headline inflation is beginning to pose a serious threat to India's high growth plans, in one of his strongest warnings over the risk of rising prices.

The 30-share BSE index dropped 2.1 per cent this week and is down more than 12 per cent so far in 2011.

Foreign institutional investors pulled out $1.5 billion from Indian shares this year until Feb. 2, with high inflation and rising violence in Egypt hastening withdrawals as risk aversion grips global investors.

"People are nervous because FII funds are moving out. Participation from domestic investors is completely missing.

The market depth seems to be very weak," said Deven Choksey, managing director at KR Choksey Shares & Securities.

Energy major Reliance Industries, with the heaviest weightage in the main index, led losses, dropping 2.5 per cent on concerns it may get sucked into a bidding war

for a US asset. Software and financial stocks were also among major losers.

The main index fell on Friday after two days of gains, closing down 441.16 points at 18,008.15 points, its lowest close since August 2010. It had earlier risen as much as 0.5 per cent. Only 1 of its components closed in the green.

"There is no fresh money coming into the market as investors prefer to stay on the sidelines on Egypt and inflation worries," said Arun Kejriwal, director of research firm KRIS. "Rising oil prices have added to the poor sentiment in the markets."

Oil was headed for a second straight week of gains as Egypt's volatile situation kept markets on edge, while investors awaited US employment data expected to give direction to prices later in the day.

Rising prices of food and other commodities are expected to trigger more monetary tightening by India's central bank, which has raised interest rates seven times since midMarch last year.

Data on Thursday showed India's food price index rose 17.05 per cent and the fuel price index climbed 11.61 per cent in the year to Jan. 22.

Shares in Reliance fell on

concerns the company may challenge Chevron's bid for Atlas Energy, according to a letter disclosed by the U.S. natural gas producer.

Software exporters Infosys fell 2.2 per cent and Tata Consultancy Services lost 3.1 per cent, as worries about outsourcing business momentum kept investors on the sidelines. Smaller rival Wipro fell 1.4 per cent.

Consumer goods firms dropped on fears rising input costs and higher inflation will dent growth in coming quarters. Cigarette maker ITC, which also makes packaged food, lost 4.2 per cent, while top consumer goods maker Hindustan Unilever fell 2 per cent.

Cement makers Ambuja Cements and ACC fell as much as 3.5 per cent and 0.9 per cent, respectively, after they said oversupply and rising input costs would keep margins under pressure in the short term.

Both companies, 46 per cent owned by Switzerland's Holcim, said they continued to bet on long-term demand growth from India's housing and infrastructure sectors, but growing excess supply would result in pricing pressure in the near term.

Bajaj Auto was the only index stock to buck the trend, rising 1.3 per cent.

Reuters

6

Saturday, February 5, 2011

Market

KSE 100 Index

Symbols

Volume

131,717,608

Value

5,121,146,620

Trades

62,785

Advanced Declined Unchanged Total

Current High Low Change

200 161 18 379

All Share Index

12,415.35 12,442.55 12,344.06 h56.29

Current High Low Change

8,603.93 8,622.01 8,558.60 h38.77

OIL AND GAS

Company

Paid up Cap(mn)

PE

Attock Petroleum 691 7.00 Attock Refinery 853 4.93 BYCO Petroleum 3921 Mari Gas Company 735 17.56 National Refinery 800 5.88 Oil & Gas Development 43009 11.68 Pak Petroleum 11950 7.87 Pak Oilfields 2365 7.65 Pak Refinery Limited 350 P.S.O 1715 4.90 Shell Gas LPG 226 Shell Pakistan 685 11.03

Open 382.54 121.51 10.10 129.47 284.90 172.85 212.75 330.09 98.74 287.62 31.75 214.56

High 391.50 122.70 10.33 131.50 287.49 173.40 217.25 333.00 99.99 291.00 32.97 218.99

High Low 1,592.89 1,570.54 Total cos Defaulter cos P/BV (x) ROE (%) 3.74 32.54 Low 382.10 120.61 10.05 129.00 281.80 172.00 212.75 329.00 97.01 284.30 31.07 214.00

Close Chg 387.43 121.05 10.11 129.56 283.58 172.70 215.18 331.78 97.98 289.31 31.60 215.11

4.89 -0.46 0.01 0.09 -1.32 -0.15 2.43 1.69 -0.76 1.69 -0.15 0.55

Current High Low Change

KMI 30 Index Current High Low Change

12,095.36 12,121.77 12,023.50 h54.2

20,062.60 20,095.03 19,903.90 h106.34

Last 60 days High Low

Volume 282279 901242 660642 44092 258312 350940 1300524 1503653 22390 639389 4564 68689

401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00

300.00 115.25 9.80 117.00 223.50 155.40 187.65 248.00 80.00 277.45 30.71 192.50

2010 Div BR (%) (%) 300 31 200 55 90 255 80 40

% Change 0.35 5-Day High 1,582.88 5-Day Low 1,564.72 2011 Div BR (%) (%)

20B115.00 - 15.00 20B 50.00 -100.00 -

-

CHEMICALS

Company

Paid up Cap(mn)

Open 718.74 Turnover 33,232 P/E (x) 5.50 Company

Paid up Cap(mn)

Pak Int Cont.Terminal PNSC

1092 1321

PE 7.00 37.97

Open 70.06 35.05

High 71.25 36.00

High Low 732.23 709.73 Total cos Defaulter cos P/BV (x) ROE (%) 1.40 25.53 Low 69.01 34.90

Close Chg 69.97 -0.09 34.93 -0.12

Close 717.52 Listed cap 3,242.17 mn Payout (%) 11.08

Volume 31007 2225

Change -1.22 Market cap 12,504.17 mn Div Yield (%) 2.01

Last 60 days High Low 76.65 39.45

68.00 32.36

Open

High

Low

Agritech Limited 3924 8.78 BOC (Pak) 250 12.97 Clariant Pak 273 7.18 Dawood Hercules 1203 8.54 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 12.15 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.25 Fauji Fert. Bin Qasim 9341 7.80 Ghani Gases Ltd 725 8.75 ICI Pakistan 1388 8.21 Ittehad Chemical 360 9.82 Leiner Gelatine 75 Lotte Pakistan 15142 6.02 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 9.23 Sitara Peroxide 551 14.34 United Distributors 92 Wah-Noble 90 7.10

23.95 94.60 203.06 205.41 2.77 7.11 2.99 10.31 218.62 12.82 11.87 151.32 41.37 11.77 143.81 27.69 13.81 15.98 1.96 2.18 118.00 13.17 14.30 37.08

24.75 96.00 204.79 207.75 2.90 7.45 3.08 11.00 222.20 13.50 12.20 153.00 41.79 11.89 146.30 26.55 14.79 16.51 2.27 2.40 115.00 13.49 14.50 37.80

22.85 94.00 200.00 204.50 2.70 6.95 2.90 10.98 219.10 12.83 11.90 149.80 41.11 11.51 142.15 26.31 12.81 15.89 1.95 2.12 112.10 13.05 14.39 36.75

Close Chg 24.22 94.43 200.64 205.98 2.84 7.01 2.92 11.00 221.05 13.01 11.98 150.38 41.36 11.55 145.78 26.32 14.60 16.38 2.21 2.40 112.56 13.19 14.39 36.93

0.27 -0.17 -2.42 0.57 0.07 -0.10 -0.07 0.69 2.43 0.19 0.11 -0.94 -0.01 -0.22 1.97 -1.37 0.79 0.40 0.25 0.22 -5.44 0.02 0.09 -0.15

Close 1,604.98 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 55050 3329 46105 32239 33435 1437486 570695 791 3380875 1630736 1451360 3098733 3987787 5790 523818 330 157 35364095 3345242 598 3222 41144 117 702

Change 2.83 Market cap 354,155.90 mn Div Yield (%) 4.98

26.73 103.94 213.30 215.00 3.74 9.25 4.24 13.79 222.80 15.87 12.64 157.90 43.99 13.07 158.49 36.00 20.95 16.51 2.74 3.40 139.40 14.69 14.99 41.99

20.26 75.02 151.55 165.73 2.16 5.42 1.47 9.15 177.80 12.51 9.16 108.00 31.56 11.00 131.89 23.50 9.99 10.93 1.38 2.03 104.00 12.70 8.51 32.00

2010 Div BR (%) (%) 15 135 40 15 40 130 52.5 55 5 5 25 50

25B 25B 5B -

% Change 0.18 5-Day High 1,604.98 5-Day Low 1,566.27 2011 Div BR (%) (%) -

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,059.35 Turnover 12,738 P/E (x) 5.39 Company

High Low 1,061.09 1,044.00 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 7.47

Close 1,058.58 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 50 411

8.15 6.86

16.00 42.82 38.49

16.09 42.40 38.50

15.77 41.55 38.00

16.05 0.05 42.40 -0.42 38.40 -0.09

11288 201 1249

Century Paper Pak Paper Product Security Paper

Change -0.77 Market cap 2,934.38 mn Div Yield (%) 4.69

Last 60 days High Low 19.69 48.90 47.70

14.95 39.00 37.70

2010 Div BR (%) (%) 2533.33B 50 -

% Change -0.07 5-Day High 1,059.35 5-Day Low 1,033.26 2011 Div BR (%) (%) -

Open 1,271.29 Turnover 78,506 P/E (x) 4.74 Paid up Cap(mn)

PE

Open

Atlas Battery 101 5.94 198.40 Atlas Engineering Ltd 247 33.73 36.25 Atlas Honda 626 9.38 134.99 Baluchistan Wheels Ltd. 133 6.11 31.99 Dewan Motors 890 2.16 General Tyre 598 20.66 23.00 Ghandhara Nissan 450 3.08 4.55 Ghani Automobile Ind 200 6.75 4.68 Honda Atlas Cars 1428 - 10.90 Indus Motors 786 6.62 290.00 Pak Suzuki 823 10.41 66.21 Sazgar Engineering 150 4.36 22.50

Company

Paid up Cap(mn)

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin

PE

Open

High

Low

565 3.09 675 555 9.01 1199 18.73 785 10.23

29.61 2.52 14.10 51.79 9.00

29.99 2.64 14.50 52.10 9.20

29.26 2.45 14.40 51.45 8.76

Close Chg 29.55 2.55 14.41 51.51 9.00

-0.06 0.03 0.31 -0.28 0.00

Close 1,034.93 Listed cap 3,596.11 mn Payout (%) 30.91

Last 60 days High Low

Volume 15394 35007 2600 58477 749

Change -2.62 Market cap 9,944.50 mn Div Yield (%) 9.51

High

High Low 1,286.19 1,265.36 Total cos Defaulter cos P/BV (x) ROE (%) 1.20 25.35 Low

Close Chg

31.00 3.29 16.51 62.20 10.70

24.01 2.45 13.75 44.53 8.51

2010 Div BR (%) (%) 30 55 7.5

2011 Div BR (%) (%)

- 10.00 20B -

Company AL-Noor Sugar XD Ansari Sugar Colony Sugar Mills Dewan Sugar Faran Sugar XD Habib Sugar Habib-ADM Ltd J D W Sugar Mehran SugarXDXB Mirza Sugar XD Mithchells Fruit XD National Foods Noon Pakistan Noon Sugar Pangrio Sugar XD Quice Food Sanghar Sugar XD Shahtaj Sugar Shakarganj Mills Tandlianwala UniLever Pakistan

Paid up Cap(mn) 186 244 990 365 217 750 200 539 157 141 50 414 48 165 109 107 119 120 695 1177 665

PE

Close 1,271.70 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Mustehkam Cement Pioneer Cement Shabbir Tiles Thatta Cement

PE

Open

High

Low

1828 866 6.58 858 182 14 956 23.64 982 12.92 3891 3651 121.58 6933 6.43 502 3.88 1760 77 32 1288 13126 3234 6.42 5261 1.22 417 2228 361 798 455.00

2.97 52.27 2.65 20.40 10.70 10.02 1.80 1.98 29.42 4.69 7.01 1.70 1.86 0.60 6.35 3.21 71.51 2.60 11.50 6.85 8.55 18.32

3.08 52.95 2.88 20.80 11.70 10.60 1.95 2.10 29.59 4.79 7.50 1.85 2.00 0.60 6.34 3.31 71.99 2.69 12.50 6.90 8.89 18.23

2.91 51.52 2.32 20.10 9.70 10.15 1.60 1.84 29.07 4.61 7.39 1.69 1.51 0.46 6.13 3.18 71.05 2.57 10.50 6.71 7.62 17.46

Close 944.70 Listed cap 54,792.74 mn Payout (%) 19.04

Change 0.28 Market cap 66,332.14 mn Div Yield (%) 2.57

Close Chg

Volume

Last 60 days High Low

2.94 52.00 2.66 20.40 11.61 10.40 1.68 1.90 29.18 4.63 7.44 1.70 1.86 0.48 6.30 3.26 71.40 2.63 12.48 6.90 8.76 18.20

30009 29201 616 5192 436 6765 4553 112166 1766104 1002924 5000 12107 5941 17031 13511 298145 218217 30051 201 2400 505 4001

3.98 65.99 4.24 24.16 15.50 12.75 2.49 3.10 32.30 5.55 8.20 2.25 3.01 0.99 8.70 3.88 79.98 3.30 15.35 8.20 9.60 20.44

-0.03 -0.27 0.01 0.00 0.91 0.38 -0.12 -0.08 -0.24 -0.06 0.43 0.00 0.00 -0.12 -0.05 0.05 -0.11 0.03 0.98 0.05 0.21 -0.12

2.75 51.50 1.10 16.55 7.91 9.95 1.50 1.45 27.67 4.61 6.25 1.60 1.18 0.25 6.00 2.95 69.35 2.56 10.50 6.51 7.37 16.75

2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R

2011 Div BR (%) (%) -

92R -

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,021.92 Turnover 173,968 P/E (x) 2.83 Company

Paid up Cap(mn)

Cherat Papersack ECOPACK Ltd Ghani Glass Merit Pack Packages Ltd Tri-Pack Films

PE

Open

115 2.59 72.13 230 2.67 1067 4.83 53.53 47 17.84 30.59 844 65.66 129.22 300 9.68 137.91

High

High Low 1,027.50 1,011.62 Total cos Defaulter cos P/BV (x) ROE (%) 1.24 43.91 Low

Close Chg

75.20 72.20 72.76 2.72 2.43 2.53 52.55 52.55 52.55 32.11 32.00 32.11 130.50 128.00 128.03 138.50 131.50 132.77

0.63 -0.14 -0.98 1.52 -1.19 -5.14

Close 1,013.42 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 33055 3714 1468 5570 24281 105877

Change -8.50 Market cap 38,070.71 mn Div Yield (%) 5.48

Last 60 days High Low 83.23 3.30 56.45 32.45 143.00 144.50

49.25 1.82 45.30 17.10 103.52 102.51

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

25B 10B -

% Change -0.83 5-Day High 1,040.85 5-Day Low 1,008.98 2011 Div BR (%) (%) -

-

INDUSTRIAL ENGINEERING

Company

Paid up Cap(mn)

Ados Pak AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind KSB Pumps Millat Tractors XB

PE

Open

66 1.06 15.99 215 5.74 234.00 104 - 44.49 214 1.28 213 10.50 11.10 132 7.34 62.10 366 8.49 544.32

High

High Low 1,607.26 1,584.71 Total cos Defaulter cos P/BV (x) ROE (%) 3.24 38.02 Low

Close Chg

16.45 16.40 16.43 0.44 240.00 231.50 239.75 5.75 46.70 44.45 44.48 -0.01 1.35 1.21 1.33 0.05 11.55 11.00 11.34 0.24 63.89 61.05 61.26 -0.84 553.85 548.00 551.40 7.08

Close 1,597.08 Listed cap 1,336.62 mn Payout (%) 131.49

Volume 505 5913 1501 115 4003 16069 65264

18.20 244.95 46.75 2.40 13.50 72.55 568.40

14.12 203.22 42.90 0.21 10.70 58.55 477.10

-

Change 0.42 Market cap 46,991.83 mn Div Yield (%) 4.30

Last 60 days High Low 205.00 41.30 143.80 37.59 2.89 26.74 5.50 5.75 13.40 309.73 77.90 23.50

154.50 15.00 96.00 30.11 1.20 21.00 4.41 4.01 10.60 231.00 63.30 18.51

2010 Div BR (%) (%) 100 25 20 150 10

20B 20B

% Change 0.03 5-Day High 1,285.43 5-Day Low 1,267.82 2011 Div BR (%) (%) -

-

High

Low

Close Chg 0.19 0.57 -0.10 0.18 0.38 0.08 -0.10 -0.75 0.06 -0.08 -3.00 -1.02 0.32 -0.07 -0.25 0.30 0.02 -1.91 0.01 -0.96 35.60

Close 1,819.97 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change 10.23 Market cap 272,778.97 mn Div Yield (%) 0.66

Last 60 days High Low

105 54.00 42.25 500 6.99 4.05 3012 5.70 2.50 771 5.59 1.50 330 21.73 17.25 37865 36.50 21.35 526 13.00 11.50 336 92.50 68.00 6276 68.49 52.60 16900 7.18 4.01 2094 89.90 65.00 260 75.50 41.52 751 27.30 17.51 1000 14.84 9.00 261 6.99 3.78 22000 3.70 2.02 536 15.01 11.35 11289 100.26 52.67 655 7.88 4.06 501 42.52 29.03 120 4818.00 3901.00

2010 Div BR (%) (%)

% Change 0.57 5-Day High 1,856.14 5-Day Low 1,809.74 2011 Div BR (%) (%)

50 25 25 25B 40 7010B 12.5R 35 20B 7.50 10 40 12 12 10 15 178 -

-

2010 Div BR (%) (%)

Company

Paid up Cap(mn)

Hussain Industries Pak Elektron Singer Pak Tariq Glass Ind

High Low 1,144.02 1,089.29 Total cos Defaulter cos P/BV (x) ROE (%) 0.34 10.64

PE

Open

High

Low

106 1219 3.57 341 22.47 231 2.67

6.09 14.20 19.00 22.75

7.09 14.49 20.00 23.20

6.39 13.95 19.00 21.80

Close Chg 6.88 14.18 20.00 22.30

0.79 -0.02 1.00 -0.45

Close 1,112.44 Listed cap 3,763.71 mn Payout (%) 6.27

Volume 19318 148331 9518 85741

Change 3.14 Market cap 5,266.47 mn Div Yield (%) 1.97

Last 60 days High Low

2010 Div BR (%) (%)

11.49 15.88 20.79 24.00

17.5

4.60 13.10 17.55 15.90

10B -

% Change 0.28 5-Day High 1,112.44 5-Day Low 1,098.52 2011 Div BR (%) (%) - 200R

PERSONAL GOODS Performance of SR Personal Goods Index Open 989.30 Turnover 17,691,436 P/E (x) 7.69 Company

Paid up Cap(mn)

(Colony) Thal Ali Asghar Textile Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Brothers Textile Chenab Limited Crescent Textile D S Ind Ltd Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning Gadoon Textile XD Ghazi Fabrics Gul Ahmed Textile Gulistan Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Ishaq Textile J K Spinning Kohinoor Ind Kohinoor Textile Liberty Mills Masood Textile Moonlite (PAK) N P Spinning Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Ravi Textile Reliance Weaving Rupali Poly Salman Noman Sargoda Spinning Service Ind Shadman Cot Sunrays Textile Suraj Cotton Tata Textile Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zil Limited

56 222 2594 840 4493 33 76 76 98 1150 492 600 514 34 110 234 326 635 190 222 716 3105 180 97 184 303 1455 226 600 22 147 1614 3516 560 174 250 308 341 42 312 120 176 69 180 173 307 418 215 400 53

PE

Open

1.27 15.25 0.99 8.55 3.78 6.13 22.00 - 11.27 0.45 10.90 0.48 13.85 5.32 629.00 0.50 2.93 3.29 16.86 1.68 41.87 36.90 0.17 5.40 0.62 20.90 0.77 71.97 0.64 3.93 4.31 29.45 1.18 20.56 0.86 7.22 0.75 3.87 4.23 53.16 3.91 3.45 1.44 8.50 1.04 5.80 1.49 3.58 5.21 3.52 68.93 1.90 18.50 - 14.00 8.80 25.00 2.14 24.57 5.74 66.75 4.56 13.00 0.84 11.13 1.34 0.65 9.28 4.82 37.87 2.08 4.10 0.70 4.03 7.59 218.07 2.50 14.70 0.69 35.49 0.89 39.84 0.39 40.10 5.19 120.65 9.18 57.98 0.87 0.48 1.30 4.24 60.31

High

High Low 1,004.08 982.57 Total cos Defaulter cos P/BV (x) ROE (%) 0.66 8.64 Low

Close Chg

1.31 1.30 1.31 0.04 1.00 0.61 0.61 -0.38 4.05 3.65 3.76 -0.02 22.10 22.05 22.05 0.05 11.54 11.19 11.28 0.01 11.50 10.95 10.95 0.05 14.01 13.50 13.76 -0.09 659.00 630.00 642.11 13.11 0.60 0.60 0.60 0.10 3.06 2.85 2.86 -0.07 17.11 17.10 17.10 0.24 1.75 1.61 1.72 0.04 38.74 35.06 35.59 -1.31 6.40 4.40 5.40 0.00 20.90 20.00 20.36 -0.54 73.19 70.50 70.51 -1.46 3.90 3.90 3.90 -0.03 30.00 30.00 30.00 0.55 21.58 19.55 19.66 -0.90 7.11 7.00 7.10 -0.12 4.00 3.80 3.99 0.12 54.40 53.10 53.75 0.59 3.60 3.60 3.60 0.15 8.00 8.00 8.00 -0.50 6.80 5.80 6.80 1.00 1.70 1.35 1.50 0.01 5.25 4.91 5.01 -0.20 67.05 67.00 67.01 -1.92 18.11 18.05 18.05 -0.45 15.00 13.00 14.29 0.29 25.00 25.00 25.00 0.00 25.79 24.70 25.79 1.22 67.50 66.66 66.87 0.12 13.62 12.61 13.50 0.50 11.98 10.25 11.50 0.37 1.44 1.35 1.35 0.01 9.50 9.25 9.27 -0.01 38.39 37.01 38.39 0.52 5.10 4.00 4.90 0.80 4.15 3.61 3.63 -0.40 225.00 219.00 221.57 3.50 14.51 13.70 13.70 -1.00 33.85 33.85 33.85 -1.64 40.00 37.86 39.50 -0.34 40.50 38.75 40.50 0.40 122.70 121.00 121.53 0.88 58.75 57.50 57.68 -0.30 0.91 0.53 0.53 -0.34 1.40 1.16 1.38 0.08 63.32 63.32 63.32 3.01

Close 990.01 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change 0.72 Market cap 140,509.95 mn Div Yield (%) 2.17

Last 60 days High Low

502 1.50 1000 1.50 298582 5.28 700 24.59 6359077 12.84 501 16.00 10001 15.10 488 747.48 611 1.49 4507 3.90 1018 23.99 5609 2.10 60863 47.00 507 8.90 26191 21.78 1003 73.19 200 5.05 117 33.19 1000 28.27 8500 8.50 318676 4.47 6825 55.00 2000 3.90 5000 8.70 1004 9.50 138 2.00 7975 5.97 500 72.95 2600 20.74 7101 15.00 500 25.00 8133284 25.79 1866921 71.89 475194 13.62 717 11.98 7918 1.98 17903 10.34 3001 39.89 6700 6.35 2204 4.45 2159 276.50 1500 15.25 600 39.84 3525 41.95 400 40.50 5482 132.00 22747 63.30 443 1.49 415 2.00 6582 63.32

2010 Div BR (%) (%)

0.56 0.61 3.65 30 19.10 20 9.20 8.10 - 15B 12.30 20 580.00 0.15 2.82 16.86 15 1.55 35.05 5 2.90 18.51 35 45.00 70 2.80 10 24.00 12.5 18.00 10 6.30 10 20B 3.31 10 36.00 20 2.70 10 4.99 8 4.05 20 5B 0.75 4.81 55.50 30 18.00 15 100R 4.50 20.00 20 21.15 15 51.70 25 45R 6.21 8.00 10 10B 0.65 8.50 25SD 31.25 40 2.01 5B 1.51 5 169.00 7.00 33.64 30 31.50 50 23.50 25 95.10 80 20B 50.50 0.43 1.00 42.30 35 -

% Change 0.07 5-Day High 997.92 5-Day Low 984.41 2011 Div BR (%) (%) -

-

150 25 650

Performance of SR Pharma and Bio Tech Index

% Change 1.14 5-Day High 1,597.08 5-Day Low 1,556.23 2011 Div BR (%) (%)

10B 25B325.00

-

Total Assets (Rs in mn)

3,356.84

MA (10-day)

3.87

Total Equity (Rs in mn)

1,312.24

MA (100-day)

4.05

Revenue (Rs in mn)

3,116.91

MA (200-day)

3.92

Interest Expense

263.53

1st Support

3.90

Profit after Taxation

248.83

2nd Support

3.75

EPS 10 (Rs)

3.478

Book value / share (Rs)

18.34

1st Resistance

4.10

2nd Resistance

4.15

PE 11 E (x)

0.75

Pivot

3.95

PBV (x)

0.22

HIRAT closed up 0.12 at 3.99. Volume was 103 per cent above average and Bollinger Bands were 46 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 1.8 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of HIRAT at a relatively equal pace. Trend forecasting oscillators are currently bearish on HIRAT.

BankIslami Pakistan Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

50.04

Total Assets (Rs in mn)

MA (10-day)

3.90

Total Equity (Rs in mn)

4,740.29

MA (100-day)

3.42

Revenue (Rs in mn)

34,286.77 2,193.89

MA (200-day)

3.58

Interest Expense

1,222.17

1st Support

3.71

Loss after Taxation

(478.94)

2nd Support

3.61

EPS 09 (Rs)

1st Resistance

3.90

Book value / share (Rs)

2nd Resistance

3.99

PE 10 E (x)

Pivot

3.80

PBV (x)

(0.907) 8.98 957.50 0.43

BIPL closed up 0.03 at 3.83. Volume was 47 per cent below average and Bollinger Bands were 2 per cent wider than normal. The company's profit after taxation stood at Rs1.565 million which translates into an Earning Per Share of Rs0.003 for the nine months of current calendar year (9MCY10).

BIPL is currently 6.9 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 reflect volume flowing into and out of BIPL at a relatively equal pace. Trend forecasting oscillators are currently bullish on BIPL.

Silkbank Limited

HOUSEHOLD GOODS

PHARMA AND BIO TECH

Change 17.93 Market cap 34,526.46 mn Div Yield (%) 15.41

Last 60 days High Low

Open

Open 1,109.30 Turnover 262,981 P/E (x) 3.19

Performance of SR Industrial Engineering Index Open 1,579.15 Turnover 93,383 P/E (x) 8.53

-

53.55

Performance of SR Household Goods Index

-

% Change 0.03 5-Day High 956.04 5-Day Low 927.39

14413 1204 101 1000 16357 5600 22513 1205 7231 430 6692 1739

High Low 1,874.33 1,776.58 Total cos Defaulter cos P/BV (x) ROE (%) 14.01 30.30

1.08 42.80 44.94 42.50 42.99 0.26 4.98 5.55 5.55 5.55 6.50 2.70 3.00 2.60 2.60 2.61 2.95 2.52 2.79 1.45 17.60 18.00 17.53 17.98 8.82 22.15 22.50 22.00 22.23 11.39 12.40 12.30 12.10 12.30 1.23 70.00 70.62 68.50 69.25 1.79 55.00 55.25 55.00 55.06 4.71 5.50 4.50 4.63 9.27 82.00 84.20 79.00 79.00 20.90 57.02 58.00 56.00 56.00 3.34 23.04 23.98 23.20 23.36 1.10 10.32 10.25 10.25 10.25 4.30 4.59 4.05 4.05 7.50 3.00 3.70 3.02 3.30 2.21 11.99 12.15 12.00 12.01 3.59 55.44 58.21 52.67 53.53 0.34 4.80 5.40 4.66 4.81 372.73 41.96 41.00 40.00 41.00 20.47 4350.05 4500.00 4250.00 4385.65

CONSTRUCTION AND MATERIALS High Low 959.35 932.00 Total cos Defaulter cos P/BV (x) ROE (%) 0.53 7.10

-

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

FOOD PRODUCERS

Performance of SR Construction and Materials Index Open 944.43 Turnover 3,565,151 P/E (x) 7.40

199.95 197.00 198.76 0.36 37.99 34.44 37.78 1.53 135.00 132.25 135.00 0.01 32.50 32.50 32.50 0.51 2.18 2.03 2.11 -0.05 24.15 23.50 23.97 0.97 4.60 4.41 4.43 -0.12 5.00 4.20 4.32 -0.36 11.70 10.80 10.88 -0.02 290.01 290.00 290.00 0.00 69.40 65.00 65.39 -0.82 23.39 22.31 23.35 0.85

Open 1,809.74 Turnover 106,302 P/E (x) 46.24

-

% Change -0.25 5-Day High 1,040.56 5-Day Low 1,026.60

40 15

2011 Div BR (%) (%)

Performance of SR Food Producers Index

Performance of SR Industrial Metals and Mining Index High Low 1,048.96 1,027.84 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 33.10

2010 Div BR (%) (%)

Performance of SR Automobile and Parts Index

INDUSTRIAL METALS AND MINING Open 1,037.55 Turnover 112,227 P/E (x) 3.25

% Change -0.17 5-Day High 733.33 5-Day Low 713.47

AUTOMOBILE AND PARTS

Company

High Low 1,625.03 1,592.05 Total cos Defaulter cos P/BV (x) ROE (%) 3.43 35.00

PE

Hira Textile Mills Limited

Performance of SR Industrial Transportation Index

Close Change 1,582.88 5.46 Listed cap Market cap 65,194.15 mn 1,220,154.07 mn Payout (%) Div Yield (%) 55.94 4.86

Performance of SR Chemicals Index Open 1,602.15 Turnover 53,523,301 P/E (x) 9.79

Alert ! Unusual Movements

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,577.42 Turnover 5,376,074 P/E (x) 11.51

KSE 30 Index

Open 903.11 Turnover 24,209 P/E (x) 6.60 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline IBL HealthCare Ltd Sanofi-Aventis Searle Pak

Paid up Cap(mn) 979 250 1707 200 96 306

PE

Open

8.35 95.46 6.72 88.50 13.71 75.35 7.50 9.34 12.21 153.50 5.44 61.88

High

High Low 925.93 896.30 Total cos Defaulter cos P/BV (x) ROE (%) 1.47 22.31 Low

Close Chg

98.35 94.51 95.31 -0.15 90.00 88.90 89.00 0.50 77.98 75.00 76.24 0.89 9.50 8.53 9.30 -0.04 154.40 151.00 153.50 0.00 62.50 60.22 60.54 -1.34

Close 905.71 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 7566 1588 4874 2150 2897 5133

112.50 94.90 89.98 9.99 164.99 69.00

94.00 82.20 69.63 7.16 116.00 58.70

34.82

Total Assets (Rs in mn)

MA (10-day)

2.57

Total Equity (Rs in mn)

MA (100-day)

2.73

Revenue (Rs in mn)

MA (200-day)

2.85

Interest Expense

1st Support

2.41

Loss after Taxation

2nd Support

2.36

EPS 09 (Rs)

1st Resistance

2.55

Book value / share (Rs)

2nd Resistance

2.64

PE 10 E (x)

Pivot

2.50

PBV (x)

68,664.34 196.91 5,913.32 5,855.52 (2,902.91) (3.224) 0.22 11.34

SILK closed down -0.06 at 2.48. Volume was 61 per cent below average (consolidating) and Bollinger Bands were 40 per cent wider than normal. The company's loss after taxation stood at Rs700.335 million which translates into a Loss Per Share of Rs0.32 for the nine months of current calendar year (9MCY10).

SILK is currently 13.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of SILK at a relatively equal pace. Trend forecasting oscillators are currently bearish on SILK.

Azgard Nine Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

54.62

Total Assets (Rs in mn)

38,525.22

MA (10-day)

11.46

Total Equity (Rs in mn)

18,469.71

MA (100-day)

10.59

Revenue (Rs in mn)

11,737.86

MA (200-day)

11.38

Interest Expense

1st Support

11.16

Profit after Taxation

60.53

2nd Support

11.00

EPS 09 (Rs)

2,424.42 0.003

1st Resistance

11.51

Book value / share (Rs)

37.85

2nd Resistance

11.70

PE 10 E (x)

Pivot

11.35

PBV (x)

0.30

ANL closed up 0.01 at 11.28. Volume was 30 per cent above average and Bollinger Bands were 74 per cent wider than normal. The company's loss after taxation stood at Rs488.179 million which translates into a Loss Per Share of Rs1.12 for the nine months of current calendar year (9MCY10).

ANL is currently 0.9 per cent below its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into ANL (mildly bullish). Trend forecasting oscillators are currently bullish on ANL.

BOOK CLOSURES Company

From

To

Mubarak Tex Mills # Husein Industries First Cap Mutual Fund # Shaheen Insurance Redeo Textiles # United Distributors # (TFC) Saudi Pak Leasing Dewan Farooque Motors # (TFC) Allied Bank (TFC) Pakarab Fertilizers Int. Ind (Consolidated) Ideal Energy # Olympia Spng. Weaving Mills # Millat Tractors Shadman Cotton Mills Mehran Sugar Mills Frontier Ceramics Int. Industries # Pakistan Oilfields Attock Petroleum

05-Feb 06-Feb 07-Feb 07-Feb 07-Feb 08-Feb 10-Feb 14-Feb 14-Feb 15-Feb 16-Feb 18-Feb 18-Feb 18-Feb 19-Feb 21-Feb 21-Feb 22-Feb 24-Feb

12-Feb 12-Feb 14-Feb 14-Feb 14-Feb 14-Feb 21-Feb 27-Feb 28-Feb 24-Feb 26-Feb 26-Feb 24-Feb 26-Feb 28-Feb 28-Feb 01-Mar 04-Mar

D/B/R 25 (R) 15 (I) 325 (I) 5 7.5 (I) 100 (I) 115 (I)

Spot AGM/Date 28-Jan 08-Feb 09-Feb 10-Feb 10-Feb 11-Feb 15-Feb

9-Feb 10-Feb 14-Feb 15-Feb 14-Feb 21-Feb 26-Feb 26-Feb 26-Feb 28-Feb 24-Feb -

INDICATIONS

Change 2.60 Market cap 30,302.85 mn Div Yield (%) 6.75

Last 60 days High Low

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

2010 Div BR (%) (%) 20 30

20B -

% Change 0.29 5-Day High 923.38 5-Day Low 903.11 2011 Div BR (%) (%) -

-

# Extraordinary General Meeting

OTHER SECTORS Symbols Climax Eng. Johnson & Philips TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Shifa Int.Hospitals Eye Television Media Times LtdXR P.I.A.C.(B) P.I.A.C.(A) Pace (Pak) Ltd. Netsol Technologies

Open 4.1 12 3.34 93 1.2 193.89 31.99 20.2 14.71 4 2.3 2.92 25.74

High 4 12.94 3.55 95.95 1.2 202.9 32.5 21.15 15.71 3.11 2.5 3.06 27.02

Low Close 4 12.25 3.26 93.01 1 196 31.02 19.53 13.71 3.1 2.26 2.86 26.1

4 12.5 3.32 95.95 1.19 198.05 31.03 20.19 15.69 3.11 2.47 3.02 27.02

Change -0.1 0.5 -0.02 2.95 -0.01 4.16 -0.96 -0.01 0.98 -0.89 0.17 0.1 1.28

Vol 7000 1611 1845640 1001 4000 10051 531 9667 108388 153 106454 285410 1417324

7

Saturday, February 5, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,117.64 Turnover 1,086,894 P/E (x) 6.04 Paid up Cap(mn)

Company

Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd

High Low 1,131.57 1,104.24 Total cos Defaulter cos P/BV (x) ROE (%) 0.78 12.84

PE

Open

High

Low

Close Chg

78 4.88 37740 12.59 3000 0.61 8606 6175 -

79.45 18.97 2.05 2.69 3.55

78.99 19.15 2.15 2.80 3.69

78.30 18.76 2.05 2.61 3.52

78.99 18.89 2.06 2.65 3.55

-0.46 -0.08 0.01 -0.04 0.00

Close 1,112.45 Listed cap 50,077.79 mn Payout (%) 62.56

Volume 712 710316 124099 251767 132875

Change -5.19 Market cap 77,000.75 mn Div Yield (%) 10.36

% Change -0.46 5-Day High 1,117.64 5-Day Low 1,099.15

Last 60 days High Low

2010 Div BR (%) (%)

82.99 20.65 2.67 3.45 4.65

80 17.5 1 -

76.50 18.19 2.01 2.41 3.35

2011 Div BR (%) (%)

-

-

Ask Gen Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Premier Insurance United Insurance XB Universal Insurance

204 6.60 279 7.90 457 6.68 1250 400 3.21 718 17.17 791 15.74 3000 45.92 303 6.32 400 2.21 263 -

10.70 69.00 10.03 39.98 13.75 90.43 59.08 17.58 11.16 7.05 2.81

Paid up Cap(mn)

Close 1,350.66 Listed cap 95,369.29 mn Payout (%) 104.13

Change 26.46 Market cap 110,278.22 mn Div Yield (%) 7.08

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

Genertech 198 Hub Power 11572 7.24 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 10.10 Kot Addu Power 8803 5.23 Nishat Chunian Power Ltd 3673 3.68 Nishat Power Ltd 3541 28.73 Sitara Energy Ltd 191 3.18 Southern Electric 1367 -

0.80 38.51 1.59 2.67 18.95 42.46 16.70 17.77 17.30 2.14

0.87 39.75 1.68 2.79 18.80 43.60 17.00 18.00 17.50 2.24

0.70 38.45 1.57 2.66 18.10 42.26 16.56 17.60 16.50 2.11

0.72 -0.08 39.52 1.01 1.59 0.00 2.70 0.03 18.18 -0.77 43.04 0.58 16.77 0.07 17.81 0.04 17.03 -0.27 2.15 0.01

13867 1364296 99057 139268 501 827256 1891268 1407994 38900 18012

1.18 41.20 2.15 3.55 22.85 45.85 18.01 18.70 19.35 2.80

Company

0.67 33.40 1.50 2.10 17.95 39.00 13.32 14.25 16.50 2.05

% Change 2.00 5-Day High 1,350.66 5-Day Low 1,291.33

2010 Div BR (%) (%) 50 15 50 20 -

2011 Div BR (%) (%)

7.8R -

-

Open 772.52 Turnover 39,846 P/E (x) 5.53

Company Sui North Gas Sui South Gas

High Low 1,660.45 1,614.61 Total cos Defaulter cos P/BV (x) ROE (%) 1.19 11.41

Close 1,643.21 Listed cap 12,202.80 mn Payout (%) 66.79

Change 35.19 Market cap 35,669.63 mn Div Yield (%) 6.42

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 8390

8.01 3.75

26.79 23.90

27.35 25.00

26.80 24.10

26.90 0.11 24.91 1.01

208283 4145198

34.75 25.01

25.71 19.95

% Change 2.19 5-Day High 1,643.21 5-Day Low 1,539.88

2010 Div BR (%) (%) 20 15

2011 Div BR (%) (%)

25B

-

-

BANKS Performance of SR Banks Index Open 1,174.82 Turnover 15,315,125 P/E (x) 8.43 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 7.08 71.97 Askari Bank 6427 8.19 17.34 Bank Alfalah 13492 14.58 11.34 Bank AL-Habib 7322 7.78 36.04 Bank Of Khyber 5004 5.33 3.98 Bank Of Punjab 5288 8.13 BankIslami Pak 5280 957.50 3.80 Faysal Bank 7327 4.60 14.34 Habib Bank Ltd 10019 7.77 124.03 Habib Metropolitan Bank 8732 7.94 25.81 JS Bank Ltd 8150 2.48 KASB Bank Ltd 9509 1.70 MCB Bank Ltd 7602 10.19 229.10 Meezan Bank 6983 9.87 18.96 Mybank Ltd 5304 2.65 National Bank 13455 6.77 77.25 NIB Bank 40437 2.75 Samba Bank 14335 1.85 Silkbank Ltd 26716 2.54 Soneri Bank 6023 6.99 Stand Chart Bank 38716 11.54 7.34 Summit Bank Ltd XR 7251 3.40 United Bank Ltd 12242 7.90 66.88

High

High Low Close 1,190.15 1,168.53 1,178.22 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.18 13.94 40.49 Low

Close Chg

73.00 71.60 72.82 0.85 17.59 17.15 17.20 -0.14 11.55 11.32 11.37 0.03 36.88 36.00 36.11 0.07 4.01 3.95 4.00 0.02 8.62 8.12 8.36 0.23 3.89 3.70 3.83 0.03 14.59 14.25 14.27 -0.07 124.85 123.00 124.37 0.34 26.00 25.89 25.95 0.14 2.42 2.35 2.42 -0.06 1.80 1.65 1.66 -0.04 231.25 227.80 229.83 0.73 18.65 18.56 18.65 -0.31 2.75 2.55 2.57 -0.08 77.95 77.21 77.52 0.27 2.83 2.73 2.74 -0.01 1.94 1.80 1.94 0.09 2.59 2.45 2.48 -0.06 7.50 6.82 6.92 -0.07 7.60 7.40 7.50 0.16 3.54 3.33 3.40 0.00 67.50 66.51 67.24 0.36

Volume

Change 3.40 Market cap 711,616.57 mn Div Yield (%) 4.80

Last 60 days High Low

113038 74.00 196425 19.25 1389897 11.99 290915 39.49 6747 4.70 8591791 10.59 111530 4.50 58781 17.10 311317 128.97 3427 29.28 29000 3.00 108296 2.80 825484 250.48 1460 20.30 5854 3.40 1631110 80.61 417455 3.35 56510 2.17 695601 3.05 27706 8.48 23700 9.04 217786 4.63 419081 70.65

55.60 15.30 9.48 31.50 3.62 7.98 3.00 13.55 102.55 20.11 2.30 1.49 199.00 14.52 1.90 65.11 2.63 1.70 2.45 6.80 6.40 2.70 56.89

% Change 0.29 5-Day High 1,178.26 5-Day Low 1,158.35

2010 Div BR (%) (%)

-

-

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 782.20 Turnover 3,158,662 P/E (x) 12.46 Paid up Cap(mn)

Company Adamjee Insurance

High Low 803.81 779.50 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20

Close 792.74 Listed cap 11,111.34 mn Payout (%) 79.54

Change 10.54 Market cap 48,618.78 mn Div Yield (%) 6.39

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 26.46

90.23

91.95

90.40

91.30 1.07

253423

96.40

74.18

% Change 1.35 5-Day High 792.74 5-Day Low 762.70

2010 Div BR (%) (%) 10

2011 Div BR (%) (%)

-

-

-

4500 1502 500 689105 2100 8378 4434 2190831 2266 1500 101

12.75 83.00 12.00 47.90 15.50 99.88 61.80 19.40 12.93 7.80 4.00

10.00 54.10 9.65 38.50 11.01 81.10 55.08 15.36 9.30 5.00 2.21

10 10 -

25R 10B 20B -

-

UP TO 100 VOLUME

-

High Low 790.93 767.86 Total cos Defaulter cos P/BV (x) ROE (%) 3.41 3.85

Close 773.50 Listed cap 2,290.72 mn Payout (%) 355.53

Change 0.98 Market cap 9,109.00 mn Div Yield (%) 4.02

Symbols

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

500

5.85

17.50

17.50

17.50

17.50 0.00

611

19.85

1001

2010 Div BR (%) (%)

16.03

4.62

-

-

2011 Div BR (%) (%) -

-

East West Life

500

-

1.93

2.25

1.52

2.25 0.32

1.52

-

20R

-

-

850 35.86

64.00

64.99

62.80

63.12 -0.88

37734

86.95

62.68

-

-

-

-

New Jub Life Insurance

627 29.50

42.54

44.50

43.95

43.95 1.41

500

49.31

40.00

-

-

-

-

FINANCIAL SERVICES Performance of SR Financial Services Index Open 407.46 Turnover 5,331,869 P/E (x) 11.76 Paid up Cap(mn)

AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities Escorts Bank Grays Leasing IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Stand Chart Leasing Trust Brokerage

High Low 423.99 401.54 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91

PE

Open

High

Low

225 1.43 360 4.20 450 13.02 3750 4.77 150 1.25 250 441 215 2121 14.69 600 751.00 2849 3166 626 0.60 7633 508 500 7.11 1000 27.79 1000 821 4.49 775 978 5.50 100 -

0.66 20.35 25.63 25.70 1.60 1.78 2.69 2.01 2.26 7.87 0.65 3.07 1.68 11.52 3.75 26.20 6.79 4.12 6.21 1.91 2.41 3.89

0.79 21.36 25.90 26.30 1.74 1.98 2.35 3.00 2.75 8.00 0.69 3.40 1.77 11.93 3.82 26.99 6.92 4.38 6.25 1.95 2.64 3.02

0.60 20.36 25.50 25.70 1.40 1.61 2.00 2.75 2.35 7.45 0.46 3.12 1.61 11.43 3.53 26.00 6.65 3.80 6.11 1.84 2.40 3.01

Close Chg 0.63 21.34 25.51 25.97 1.40 1.81 2.35 2.95 2.35 7.51 0.65 3.13 1.68 11.59 3.56 26.44 6.67 4.20 6.11 1.88 2.64 3.02

-0.03 0.99 -0.12 0.27 -0.20 0.03 -0.34 0.94 0.09 -0.36 0.00 0.06 0.00 0.07 -0.19 0.24 -0.12 0.08 -0.10 -0.03 0.23 -0.87

Close 409.09 Listed cap 30,336.44 mn Payout (%) 99.56

Volume 95336 178942 43008 2588160 101 49003 198 14751 2005 7001 4040 30481 5184 4319270 400611 8462 128347 6712 732 36983 397 292

Change 1.63 Market cap 18,959.02 mn Div Yield (%) 3.35

% Change 0.40 5-Day High 409.09 5-Day Low 386.51

Last 60 days High Low

2010 Div BR (%) (%)

0.95 22.40 28.00 30.20 2.14 2.75 3.80 3.00 3.90 8.98 1.09 3.96 2.14 14.05 4.78 32.37 7.59 5.43 7.29 2.69 3.00 4.00

30 11.5 10 -

0.33 16.05 24.61 23.35 1.15 1.28 1.90 0.18 2.17 6.22 0.46 2.95 1.05 10.10 3.51 25.00 6.17 3.80 5.51 1.84 2.26 1.42

2011 Div BR (%) (%)

20B 20B 10B -

-

-

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,390.96 Turnover 6,690,326 P/E (x) 19.52 Paid up Cap(mn)

Company

1st Fid Leasing AL-Meezan Mutual F. Asian Stocks B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Elite Cap Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba I B L Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali NAMCO Balanced Fund Nat Bank Modaraba Pak Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Stand Chart Modaraba Tri-Star 1st Modaraba U D L Modaraba

PE

264 1375 900 780 65 200 113 524 581 760 397 1008 202 3180 1186 283 1200 184 1000 250 125 1000 2835 2841 872 454 212 264

9.50 8.29 17.50 3.50 2.75 1.78 3.75 11.56 0.60 2.34 2.72 6.01 13.82 71.00 1.35 2.07 2.60 17.50 6.25 5.56 5.40 2.10 9.29 7.52 2.27 4.67 1.78

Open 1.67 10.00 3.00 1.50 1.26 0.64 2.80 1.92 1.91 3.30 7.98 7.01 1.51 5.52 5.69 2.90 8.40 1.34 3.98 6.01 1.08 7.30 14.00 6.25 1.00 9.73 0.81 6.12

High Low 1,452.66 1,365.56 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 2.21

High 2.34 10.30 4.00 1.55 1.99 0.75 3.00 2.24 2.00 3.29 8.15 7.00 2.05 5.84 5.81 2.85 9.25 1.75 4.01 6.00 1.18 7.30 14.54 6.70 1.09 9.52 1.24 6.25

Low

Close Chg

1.16 9.52 3.00 1.40 1.00 0.52 3.00 1.75 1.89 3.20 7.60 6.97 1.25 5.41 5.30 2.15 8.20 1.50 3.75 6.00 1.01 7.00 14.10 6.13 1.00 9.51 1.14 6.25

1.52 9.95 3.50 1.54 1.21 0.71 3.00 1.85 1.89 3.28 8.15 6.97 1.52 5.68 5.61 2.81 9.05 1.75 4.00 6.00 1.08 7.21 14.50 6.62 1.00 9.52 1.24 6.25

-0.15 -0.05 0.50 0.04 -0.05 0.07 0.20 -0.07 -0.02 -0.02 0.17 -0.04 0.01 0.16 -0.08 -0.09 0.65 0.41 0.02 -0.01 0.00 -0.09 0.50 0.37 0.00 -0.21 0.43 0.13

Close 1,425.90 Listed cap 29,771.58 mn Payout (%) 162.74

Change 34.94 Market cap 19,278.77 mn Div Yield (%) 8.34

Last 60 days High Low

Volume 50310 1086698 1000 4074 887 358 152 15507 3999 45036 501 50100 1005 118133 999155 151724 2161806 15679 899813 500 517 112999 599950 351983 13124 162 104 5000

2.34 10.30 6.00 2.79 1.99 0.87 3.49 2.98 2.39 3.60 9.00 7.30 3.69 6.10 6.20 3.50 9.25 2.50 4.24 7.74 2.00 7.80 15.06 7.14 1.20 10.29 2.75 6.55

1.16 6.15 2.50 1.20 1.00 0.16 2.05 1.06 1.61 2.56 6.13 6.00 1.16 2.99 2.76 1.26 5.15 0.92 2.71 4.50 0.46 5.31 8.50 4.00 0.81 8.51 0.70 5.30

% Change 2.51 5-Day High 1,425.90 5-Day Low 1,363.04

2010 Div BR (%) (%) 18.5 8.2 0 1.2 5 17 11 21 3 5 10 2.8 15.5 15 10 3 10 20 10 3 17 12.5

2011 Div BR (%) (%)

-

-

-

Open

OLSM FZCM TSPL RMPL AKDCL NESTLE AASM TSMF SMCPL MIRKS AGSML GWLC MWMP IDSM ARUJ NATM AGIL CSIL ICCT IDEN KCL PAKL MLCFPS DIIL MUKT FZTM ZTL GATI CHAS FNEL PECO SAIF TICL AZAMT CJPL NAGC PGCL COLG GUSM HWQS IDYM TOWL KOSM LEUL SMTM CWSM DSML BWCL KML CML DNCC HINO MACFL MTIL PRWM RCML SALT SAPT SHSML SSIC ZAHT ADAMS ALTN CLOV EMCO FECS GRAYS GVGL HINOON ILTM ISIL JVDC LAKST MQTM PCAL SFL SGPL

% Change 0.13 5-Day High 815.09 5-Day Low 770.15

EFU Life Assurance

2011 Div BR (%) (%)

20 - 20B - 66R 55 -63.46R 10 -

0.19 0.49 0.65 1.10 -0.25 2.10 -0.67 0.33 0.54 -0.31 -0.31

Paid up Cap(mn)

American Life

Company

GAS WATER AND MULTIUTILITIES Open 1,608.02 Turnover 4,353,481 P/E (x) 10.41

Company

-

Performance of SR Gas Water and Multiutilities Index

10.89 69.49 10.68 41.08 13.50 92.53 58.41 17.91 11.70 6.74 2.50

Performance of SR Life Insurance Index

Performance of SR Electricity Index High Low 1,364.08 1,320.20 Total cos Defaulter cos P/BV (x) ROE (%) 1.37 9.35

10.60 68.60 10.68 39.50 13.50 91.00 58.00 17.43 11.10 6.70 2.50

LIFE INSURANCE

-

ELECTRICITY Open 1,324.20 Turnover 5,800,514 P/E (x) 14.70

11.40 69.89 10.84 41.97 13.75 94.95 59.00 18.40 11.74 6.82 2.50

1.51 62.50 0.95 2349.42 44.99 3405.00 26.00 1.37 6.50 48.50 5.50 6.96 1.37 8.25 4.25 16.00 70.75 5.63 1.23 14.99 6.80 2.00 4.25 12.91 0.48 423.08 3.40 44.52 9.69 6.81 146.00 5.49 59.41 2.55 1.10 16.15 23.79 935.01 5.90 19.59 250.07 10.98 1.10 1.90 6.05 1.45 2.00 12.21 2.70 2.20 2.03 124.82 3.33 0.45 14.00 43.00 68.40 109.00 9.20 7.20 3.74 15.35 10.85 60.12 2.89 32.01 48.50 26.00 27.00 110.05 73.96 58.98 265.07 8.25 54.50 113.90 1.29

High 1.70 65.45 0.98 2464.00 46.70 3570.00 27.30 1.68 7.50 50.80 4.75 7.08 1.44 9.25 4.50 15.00 71.10 4.63 1.45 14.90 7.10 2.85 4.17 13.90 0.50 425.00 4.05 46.74 9.80 7.19 146.00 5.49 62.38 2.60 1.16 16.38 24.90 960.00 6.23 19.70 262.52 11.96 1.72 1.01 6.90 1.74 3.00 13.21 2.75 2.49 2.50 125.00 3.33 0.64 13.50 41.00 69.24 111.00 9.90 7.34 2.74 15.50 11.40 62.49 2.85 33.61 48.50 24.70 28.00 104.55 76.95 61.45 277.75 8.30 55.80 108.21 2.10

Low

Close

1.70 59.38 0.71 2300.00 44.10 3325.00 27.20 1.15 6.20 50.69 4.65 6.10 1.17 7.40 4.50 15.00 71.10 4.63 1.42 14.90 7.10 2.01 4.01 11.91 0.18 410.00 3.40 46.50 8.70 6.00 143.00 5.00 62.38 2.20 0.61 15.50 22.66 959.99 5.75 18.59 260.00 10.01 1.40 1.01 5.80 1.05 1.20 11.21 2.00 2.15 1.62 119.41 3.15 0.30 13.50 41.00 64.98 111.00 9.10 7.00 2.74 15.50 11.40 62.49 2.85 33.61 48.50 24.70 28.00 104.55 76.95 61.45 277.75 8.30 55.80 108.21 1.20

1.70 59.68 0.97 2420.30 44.55 3405.44 27.25 1.15 6.81 50.69 4.73 6.98 1.17 7.45 4.50 15.00 71.10 4.63 1.42 14.90 7.10 2.85 4.17 11.91 0.46 420.00 3.98 46.74 9.40 7.07 144.33 5.49 62.38 2.50 0.90 16.38 22.85 960.00 5.96 19.70 262.49 10.01 1.40 1.01 6.49 1.35 1.20 12.54 2.48 2.49 2.06 122.21 3.24 0.47 13.50 41.00 69.24 111.00 9.50 7.34 2.74 15.50 11.40 62.49 2.85 33.61 48.50 24.70 28.00 104.55 76.95 61.45 277.75 8.30 55.80 108.21 1.20

Change

Vol

0.19 -2.82 0.02 70.88 -0.44 0.44 1.25 -0.22 0.31 2.19 -0.77 0.02 -0.20 -0.80 0.25 -1.00 0.35 -1.00 0.19 -0.09 0.30 0.85 -0.08 -1.00 -0.02 -3.08 0.58 2.22 -0.29 0.26 -1.67 0.00 2.97 -0.05 -0.20 0.23 -0.94 24.99 0.06 0.11 12.42 -0.97 0.30 -0.89 0.44 -0.10 -0.80 0.33 -0.22 0.29 0.03 -2.61 -0.09 0.02 -0.50 -2.00 0.84 2.00 0.30 0.14 -1.00 0.15 0.55 2.37 -0.04 1.60 0.00 -1.30 1.00 -5.50 2.99 2.47 12.68 0.05 1.30 -5.69 -0.09

100 90 73 67 54 51 50 50 48 31 30 30 30 26 25 25 20 20 20 20 20 20 18 17 15 13 13 12 11 11 11 11 11 8 8 8 8 6 6 6 6 6 5 5 5 4 4 3 3 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS Symbols

Open

High 152.90

Low

Close

150.17

150.83

Change

Vol

FFC-FEB

151.56

FFBL-FEB

41.64

41.99

41.50

41.64

0.00

758000

ENGRO-FEB 219.76

223.25

220.20

222.26

-0.73 1778000 2.50

655500

POL-FEB

330.71

333.50

329.50

332.57

NBP-FEB

77.80

78.25

77.50

78.06

DGKC-FEB

29.55

29.75

29.10

29.36

-0.19

345500

ANL-FEB

11.36

11.60

11.20

11.34

-0.02

295000

NML-FEB

67.05

67.70

66.90

67.26

0.21

266000

PSO-FEB

289.68

292.50

285.55

291.17

1.49

247500

1.86 0.26

523500 358500

BOP-FEB

8.12

8.75

8.29

8.42

0.30

242000

PPL-FEB

213.83

218.00

213.05

216.52

2.69

183000

MCB-FEB

230.74

232.00

228.50

231.36

0.62

142000

AICL-FEB

91.20

92.25

91.00

91.50

0.30

77000

UBL-FEB

67.07

67.85

66.50

67.47

NCL-FEB

0.40 1.20

63500

24.65

25.88

25.00

25.85

NETSOL-FEB 25.71

26.99

26.30

26.95

1.24

LUCK-FEB

72.12

72.15

71.40

71.97

-0.15

38000

PTC-FEB

19.11

19.08

19.00

19.00

-0.11

35000

HUBC-FEB

38.73

39.50

39.40

39.50

0.77

61500

11000

OGDC-FEB

172.97

172.50

172.00

172.50

-0.47

1000

AICL-CAPR

93.81

0.00

0.00

94.87

1.06

0.00

AICL-CFEB

91.13

0.00

0.00

92.16

1.03

0.00

AICL-CMAR

92.32

0.00

0.00

93.37

1.05

0.00

AKBL-CAPR 18.03

0.00

0.00

17.87

-0.16

47500

0.00

ZERO VOLUME Symbols EXIDE NCLNCP RICL

Open

High

Low

Close

Change

Vol

197.49

197.00

197.00

197.00

22.01

23.11

23.11

23.11

1.10

0.00

6.60

6.61

6.61

6.61

-0.49 0.01

0.00

0.00

BOARD MEETINGS

Fauji Fertiliser Bin Qasim Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

57.98

Support 1

12,358.75

MA (5-day)

12,329.91

Support 2

12,302.15

MA (10-day)

12,389.89

Resistance 1

12,457.25

MA (100-day)

11,202.64

Resistance 2

12,499.15

Fair Value

Rs Recommendations

10,575.57

Pivot

Brokerage House

Fair Value 77

AKD Securities Ltd

71.45

TFD Research

78.6

53.54 66.05 57.27 52.65

Brokerage House

Fair Value

Rs Recommendations

Hold

*Invest Cap

149

Hold

AKD Securities Ltd

229.9

Accumulate

AKD Securities Ltd

145

Reduce

TFD Research

44.25

Neutral

TFD Research

245.4

Positive

TFD Research

139.5

Neutral

210

Technical Outlook Technical Analysis

Leverage Position

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

Brokerage House

Fair Value

Rs Recommendations

69.49 214.24 188.42 186.34

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

147.48 32,600.80 180.86 220.24

* Target price for Jun-11 & **Net Open Interest in future market

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

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

* Target price for Jun-11 & **Net Open Interest in future market

and Bollinger Bands were 101 per cent wider than normal.

ENGRO is currently 18.7 per cent above its 200-day moving average and FFC is currently 32.4 per cent above its 200-day moving average and is 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 mod- volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into ENGRO (mildly bullish). Trend forecasting oscil- erate flows of volume into FFC (mildly bullish). Trend forecasting oscillalators are currently bullish on ENGRO.

tors are currently bullish on FFC.

Pakistan Oilfields Ltd

National Bank of Pakistan

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

Fair Value

Rs Recommendations

*Invest Cap

36

Buy

*Invest Cap

52.4

Sell

*Invest Cap

Accumulate

AKD Securities Ltd

38.14

Buy

AKD Securities Ltd

75.5

Neutral

AKD Securities Ltd

322.42

Neutral

Positive

TFD Research

36.55

Positive

TFD Research

92.3

Positive

TFD Research

381.35

Positive

Technical Outlook

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

175.80 11,755.74 68.25 66.95

* Target price for Jun-11 & **Net Open Interest in future market

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

44.84 29.36 28.20 26.82

200.80 5,859.48 39.10 29.32

* Target price for Jun-11 & **Net Open Interest in future market

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

57.21 77.20 69.51 68.33

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

360

Hold

Technical Outlook

Technical Outlook

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

373.19 56,120.30 61.03 151.13

ENGRO closed up 2.43 at 221.05. Volume was 63 per cent above average FFC closed down -0.94 at 150.38. Volume was 87 per cent above average and Bollinger Bands were 4 per cent wider than normal.

318.50 24,689.95 111.42 77.48

* Target price for Jun-11 & **Net Open Interest in future market

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

64.69 327.85 273.70 249.80

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

107.94 35,813.32 735.44 330.97

* Target price for Jun-11 & **Net Open Interest in future market

NML closed up 0.12 at 66.87. Volume was 60 per cent below average DGKC closed down -0.24 at 29.18. Volume was 65 per cent below average NBP closed up 0.27 at 77.52. Volume was 62 per cent below average (con- POL closed up 1.69 at 331.78. Volume was 26 per cent below average and (consolidating) and Bollinger Bands were 9 per cent narrower than normal. (consolidating) and Bollinger Bands were 15 per cent narrower than normal. solidating) and Bollinger Bands were 48 per cent narrower than normal.

Bollinger Bands were 52 per cent narrower than normal.

NML is currently 27.0 per cent above its 200-day moving average and is DGKC is currently 8.8 per cent above its 200-day moving average and is NBP is currently 13.4 per cent above its 200-day moving average and is POL is currently 32.8 per cent above its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average displaying a downward trend. Volatility is relatively normal as compared to displaying a downward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is extremely low when compared to volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators flowing into and out of NML at a relatively equal pace. Trend forecasting reflect moderate flows of volume into DGKC (mildly bullish). Trend fore- reflect volume flowing into and out of NBP at a relatively equal pace. Trend reflect volume flowing into and out of POL at a relatively equal pace. Trend oscillators are currently bearish on NML.

casting oscillators are currently bearish on DGKC.

forecasting oscillators are currently bearish on NBP.

forecasting oscillators are currently bullish on POL.

Time

07-Feb 07-Feb 07-Feb 07-Feb 07-Feb 07-Feb 07-Feb 08-Feb 08-Feb 08-Feb 09-Feb 09-Feb 09-Feb 09-Feb 09-Feb 10-Feb 10-Feb 11-Feb 12-Feb 14-Feb

4:00 10:30 9:30 5:00 12:00 3:00 10:00 12:00 12:00 12:00 3:00 10:00 12:00 3:00 10:00 10:30 2:00 3:30 11:00 2:30

TECHNICAL LEVELS

Leverage Position

63.23 151.94 119.05 113.52

Date

BankIslami Pakistan Ltd Habib ADM Limited Engro Polymer Ltd Tandlianwala Sugar Mills Pakistan Int Con Ter Ltd Zeal-Pak Cement Ltd Ansari Sugar Mills Ltd NI(U)T Fund NIT Govt. Bond Fund NIT Income Fund Cherat Papersack Ltd Pakistan State Oil Co. Ltd NetSol Technologies Ltd Mubarak Textile Mills Ltd Shifa Int Hospital Ltd. MCB Bank Limited IGI Investment Bank Sanofi Aventis Pak Ltd Tri-Pack Films Ltd Unilever Pakistan Limited

Company

Technical Outlook

Technical Outlook

Buy

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

Rs Recommendations

Accumulate

39

Dera Ghazi Khan Cement Co Ltd

Rs Recommendations

Fair Value

*Invest Cap

45.52

*Invest Cap

12,400.65

Nishat Mills Ltd

*Invest Cap

Brokerage House

Hold

AKD Securities Ltd

RSI (14-day) 60.89 Free Float Shares (mn) 326.94 MA (10-day) 41.13 Free Float Rs (mn) 13,522.18 KSE 100 INDEX closed up 56.29 points at 12,415.35. Volume was MA (100-day) 33.83 ** NOI Rs (mn) 77.08 39 per cent below average and Bollinger Bands were 37 per cent MA (200-day) 31.06 Mean 41.41 narrower than normal. As far as resistance level is concern, the * Target price for Jun-11 & **Net Open Interest in future market market will see major 1st resistance level at 12,457.25 and 2nd FFBL closed down -0.01 at 41.36. Volume was 28 per cent below average resistance level at 12,499.15, while Index will continue to find its 1st support level at 12,358.75 and 2nd support level at 12,302.15. and Bollinger Bands were 7 per cent wider than normal.

KSE 100 INDEX is currently 17.4 per cent above its 200-day mov- FFBL is currently 33.2 per cent above its 200-day moving average and is ing average and is displaying a downward trend. Volatility is displaying an upward trend. Volatility is extremely low when compared to extremely low when compared to the average volatility over the the average volatility over the last 10 trading sessions. Volume indicators last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecast- reflect moderate flows of volume into FFBL (mildly bullish). Trend forecasting oscillators are currently bullish on FFBL. ing oscillators are currently bearish on INDEX. MA (200-day)

Fauji Fertiliser Co

Engro Corporation

Company

Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele

RSI 1st 2nd (14-day) Support 40.75 2.90 2.80 60.11 71.95 71.05 11.93 51.35 50.75 48.56 25.70 25.40 43.52 25.40 25.25 51.73 90.50 89.65 43.01 17.05 16.85 54.62 11.15 11.00 64.82 382.50 377.60 37.11 120.20 119.35 53.27 11.25 11.20 50.04 3.75 3.60 30.97 8.10 7.85 38.95 1.80 1.70 44.84 28.95 28.75 47.96 2.85 2.80 42.10 2.45 2.35 46.13 39.75 38.40 23.99 62.30 61.45 69.49 219.35 217.70 40.23 14.15 14.05 34.26 4.55 4.50 60.89 41.05 40.75 63.23 149.10 147.85 56.15 123.30 122.20 57.97 38.75 37.95 48.08 143.20 140.60 35.58 3.45 3.35 41.97 1.55 1.50 45.89 2.35 2.30 44.21 11.35 11.15 51.90 42.35 41.65 42.89 2.65 2.60 66.36 16.00 15.65 41.56 70.95 70.55 50.94 228.00 226.20 37.58 2.55 2.50 57.21 77.15 76.80 68.72 25.05 24.35 70.48 26.40 25.80 38.94 2.70 2.65 63.65 2.00 1.80 53.54 66.50 66.15 51.77 172.00 171.30 52.07 2.90 2.80 38.66 1.85 1.80 54.30 2.30 2.15 50.71 6.80 6.65 64.69 329.50 327.25 49.84 212.85 210.55 38.58 63.80 62.20 42.66 285.40 281.50 42.86 18.70 18.55 58.63 213.05 211.05 44.65 26.70 26.45 44.24 13.00 12.80 70.98 24.35 23.75 37.15 2.05 2.00 47.69 3.20 3.10 51.29 66.65 66.10 43.92 2.60 2.50

1st

2nd

Resistance 3.05 3.15 73.35 73.85 52.80 53.60 26.30 26.60 25.80 26.05 92.05 92.75 17.45 17.75 11.50 11.70 391.90 396.40 122.30 123.55 11.50 11.65 3.90 4.00 8.60 8.85 2.05 2.20 29.50 29.80 3.05 3.15 2.65 2.75 42.20 43.30 64.50 65.85 222.45 223.90 14.50 14.70 4.75 4.85 41.75 42.10 152.30 154.25 125.15 125.90 40.05 40.55 147.35 148.90 3.75 3.95 1.65 1.70 2.45 2.50 11.85 12.15 43.70 44.30 2.80 2.85 16.65 16.90 71.90 72.40 231.45 233.10 2.70 2.75 77.90 78.30 26.15 26.50 27.30 27.65 2.80 2.85 2.35 2.45 67.35 67.85 173.40 174.10 3.10 3.20 1.95 2.00 2.55 2.65 6.95 7.05 333.50 335.25 217.35 219.55 68.20 71.00 292.10 294.90 19.10 19.30 218.05 221.00 27.25 27.55 13.45 13.70 25.25 25.55 2.15 2.20 3.50 3.65 67.65 68.05 2.75 2.90

Pivot 3.00 72.45 52.15 26.00 25.65 91.20 17.30 11.35 387.00 121.45 11.40 3.80 8.35 1.95 29.30 2.95 2.55 40.85 63.65 220.80 14.35 4.70 41.40 151.05 124.05 39.25 144.75 3.65 1.60 2.40 11.65 42.95 2.70 16.25 71.50 229.65 2.65 77.55 25.45 26.70 2.75 2.15 67.00 172.70 3.00 1.90 2.40 6.85 331.25 215.05 66.60 288.20 18.95 216.05 27.00 13.25 24.65 2.10 3.40 67.10 2.70

8

Saturday, February 5, 2011

Ranveer denies paying Rs10 Crore for debut

R

anveer Singh, who has become the talk of the town after his first release Band Baaja Baaraat, has vehemently denied the allegations that his dad paid Rs10 crore for his debut film.

It must be mentioned that after Ranveer's envious suc-

MUMBAI: Indian Bollywood actress Sonal Singh Chauhan walks the ramp during a showstopper during an event for Schwarzkopf Professional in Mumbai.-Reuters

Harry Potter films to receive BAFTA cinema award

T

he Harry Potter movies will receive a BAFTA award, Britain's equivalent of the Oscars, for their contribution to cinema, organizers said on Thursday.

The award for Outstanding British Contribution to Cinema will be presented at the main BAFTA prize ceremony in London on February 13 to J.K. Rowling, best-selling author of the original wizard stories, and series producer David Heyman.

The first seven films have amassed around $6.4 billion at the global box office, according to ticket tracking site

www.boxofficemojo.com. The final installment, "Harry Potter and the Deathly Hallows: Part 2," is due out on July 15.

The films have been nominated for several Oscars, in technical or musical categories, but have yet to scoop a statuette.

Harry Potter fans, and some cast members, have questioned why the phenomenon has been overlooked for the movie world's top accolades, particularly in major categories like acting and directing.

But BAFTA said in a statement: "The Harry Potter

films have not only created stars in front of the camera, but have also highlighted the expertise within the British craft and technical industries, supporting a vast array of jobs throughout production."

Heyman added: "On behalf of the over 2,000 people who worked in front of and behind the camera on each of the Harry Potter films I would like to say how honored we all are to receive this Award.

"And thank you to Jo Rowling for entrusting us to bring her magnificent books to the screen."

MUMBAI: Indian Bollywood film director Kiran Rao shakes hands with Dev Anand as actor Aamir Khan , his brother Faizal Khan and mother Zeenat look at the premier of Dev Anands re-release of classical hindi film 'Hum Dono' premier.-Reuters

cess, his detractors are heating up the case against him. Many have even gone to the extent of labeling him as an actor who has made it big after coughing up Rs 10 crore.

Ranveer on his part is aghast at these rumours. Says he, "Bullshit. My dad was going through a very lean period.

There was no question of him having paid money to anyone.

These are all rumours."

Though these rumours might be disturbing, but Ranveer is level-headed in dealing with these allegations. The actor is making sure that these distractions don't bother him in his pursuit to stardom.

Urmila

Dhobi Ghat turns 37 raked in B double its cost: Aamir A amir Khan is excited that Kiran Rao's directorial debut ''Dhobi Ghat'', which he produced and acted in, has unexpectedly fared well at the box office and earned double the amount invested in it.

"I am very happy with 'Dhobi Ghat' collection. Films like 'Dhobi Ghat' are really breaking grounds. It's a very unusual film and the kind of business it has done is huge for this kind of film. The kind of budget the film was made at, it's a very successful film. It made double the money it had cost us to make the film," said Aamir Wednesday at a press conference.

Set in Mumbai,"Dhobi Ghat", made with a budget of Rs.50 million ($1 million), earned Rs.93 million in the first two days. Kiran roped in newcomers Monica Dogra, Kriti Malhotra, one-film-old Prateek Babbar along with her veteran husband to show the city in its true colours through these four character who come from very different backgrounds.

Aamir expected extreme reactions for the film from audience.

"I am also very happy with

ollywood actor Urmila Matondkar, who became a rage after her Rangeela performance in the 1995 film, turns one year older on 4th February. She becomes 37.

The dancing beauty of Bollywood, who will also be remembered for her critically acclaimed portrayal of the characters of psycho killers, is busy these days judging a show titled- 'Chak Dhoom Dhoom'.

Interestingly, it is speculated that the actor who has passed her peak years in B-town, knocked out the Hisss girl, Mallika Sherawat to become the judge of the show, media reports said.

Earlier, she had also judged the popular celebrity dance reality show called 'Jhalak Dikhla Jaa'.

the response because I always felt that there would be two kinds of responses for 'Dhobi Ghat'. There would be people who would just not get the film, who won't understand it, who won't know why we made it, and there will be people who would really love it as it would touch them," said Aamir.

Asked if he would be doing more films like "Dhobi Ghat", he said: "Of course, definitely.

I want to make all kinds of films. Along with big mainstream films like 'Dhoom 3' or one I am doing with Reema (Kagti) and along with that I would love to make social films like 'Peepli Live' or 'Taare Zameen Par' or 'Dhobi Ghat', which are absolutely different kinds of films."

Aamir Khan Marriage cant be without intimacy: Priyanka to play riyanka Chopra is one such actor, who can befit villain in any role or carry off any character with ease. And Dhoom 3 given it well proves with her upcom-

P

B

ollywood Mr. Perfectionist Aamir Khan is all set to play villain in one of the most successful series in Bollywood, 'Dhoom'.

After John Abraham and Hrithik Roshan, its Aamir's turn to play the villain in Yash Raj's 'Dhoom 3', the third one in the 'Dhoom series'.

"It is indeed a pleasure to be working with Yashji (Yash Chopra) and Adi (Aditya Chopra) once again. Dhoom is a great franchise. Every time I hear the theme tune of Dhoom it brings a swing to my step. Victor's script really won me over and I look forward to working with him and sharing screen space with Jai and Ali", Aamir said.

Dhoom 3 will be Aamir's second film with Yash Raj banner after Fanaa, where he played a terrorist.

Abhishek Bachchan and Uday Chopra will continue playing their roles of Jai Dixit and Ali. Produced by Aditya Chopra, Dhoom 3 will be directed by Vijay Krishna Acharya, who is the writer of all three Dhoom films. The film will begin shooting by the end of this year and is slated for a 2012 Christmas release.

ing film 7 Khoon Maaf, where she essays the role of a lady who has 7 husbands. However, what is drawing everyone's attention is how Priyanka managed to do intimate scenes with numerous men at the same time or how was that equation for her.

Nevertheless, Priyanka is pretty cool about it and has her point to prove. 'First of all you are talking about marriages and I don't know any marriage without intimacy. Above that if you're going to show love and pain it comes along with lot of other emotions. It's never an isolated emotion with only hatred or love or anger or intimacy being there. So when it comes to enacting any scene, I am an actor and I am doing my job. I am playing the character to as much of my comfort as I could. I made myself comfortable with everybody.'

Though she shares a sizzling chemistry with each of the actors in the film, Priyanka was highly compatible with John Abraham, who plays her second husband in 7 Khoon Maaf.

'I was most compatible with John as I have done three films with him now. I knew him well so there was no question of getting to know each other,' reveals priyanka. Whilst she also shares her tuning with other co-stars of the film 'With Neil and Vivaan I got along really well because we were on board right from the begin-

cricket matches are going on in full swing.

However, given the impressive line up for February, it appears that Bollywood too is prepared to take this battle head on.

The first week of February, that is 4th will see the release of two very promising films,

Sudhir Mishra's Chitrangada Singh and Irfaan Khan starrer, Yh Saali Zindagi and the Vinay Pathak, Mona Singh and Mahie Gill's comedy thriller, Utt Pataang.

Both the films are made for the niche audience which should patronize them and carry forward Bollywood's

winning march. February 11 will witness the release of Akshay Kumar-Anushka Sharma's Nikhil Advani directed, Patiala House.

February 18 will see the release of Vishal Bhardwaj's 7 Khoon Maaf.

With Priyanka Chopra already wooing the audience

with her "Daaarling" song coupled with the fact that the film is a Vishal Bhardwaj product, the prospects of 7 Khoon Maaf are certainly bright. Last but not the least is Madhavan and Kangna's Tanu Weds Manu, and from the promos one can easily say that the film is a romantic

A

cclaimed filmmaker James Cameron has reportedly topped a list of Hollywood's top earners of 2010 after taking home a staggering $257 million last year.

The "Avatar" director earned the estimated figure for writing, producing and directing the 3-D blockbuster, reports contactmusic.com.

Actor Johnny Depp followed with earnings of $100 million.

Steven Spielberg is third with $80 million.

Director Christopher Nolan and his "Inception" star Leonardo DiCaprio round up the top five with earnings of $71.5 million and $62 million respectively.

Khayyam Sarhadi passes away

F ning. Alex was infact really fun on the sets. When he came down from Russia he was really friendly and he used to be very fun-loving. Irrfan was one actor from whom I got to learn a lot. I tremendously respect him as an actor. Annu Sir, I always knew as he is my dad's good friend,' says the pretty lady.

Priyanka is ecstatic to have worked with stalwart of Bollywood - Naseeruddin Shah. 'It was very nerve-racking initially because I have never worked with him. But as I did a workshop with Naseer sir right before the film began, it really helped me. Naseer sir is truly an institution of cinema in himself,' says the 28 year old actress.

National award winner Priyanka Chopra, who has proven her mettle time and again has not let the success get into her head. 'I don't consider myself as good an actor as most of the people I have worked with on this film,' concludes the self-effacing actress.

Despite world Cup, Feb appears promising for Bollywood!

The ICC Cricket World Cup, which starts on 19th February, might be an event of epic proportions for a nation which is cricket crazy but it will have it's side effects, and the film industry is expected to be the first victim as it's the business of films which takes a hit when

Avatar director tops Hollywood rich list

comedy with a difference.

Well, let us hope that the good business that films generated in January continues even in February so that the industry which had incurred so much loss last year is able to flourish and prosper for the betterment of all concerned.

amous television, film and stage actor Khayyam Sarhadi passed away of a heart attack in lahore on Friday.

According to details Khayyam Sarhadi was at his home when he suffered a cardiac arrest and did not regain consciousness. He was a legendary actor who worked so magnificently on stage, TV and film. He was the son of renowned artist Zia Sarhadi and husband of film star Saiqa.

His funeral prayer will be offered in DHA.

Malika Pukhraj’s 7th death anniversary today

T

he 7th death anniversary of the most eminent singer Malika Pukhraj is being observed today.

Malika Pukhraj was born in Mirpur ( Jammu and Kashmir) and started training in her very early age. At nine she visited Jammu and performed at coronation ceremony of Maharaja Hari Singh, who got so impressed by her voice that she appointed a court singer in his Durbar and stayed there for another nine years. Over the next 8 decades she captivated her audience with her command over the singing genres of Thumri, Ghazal, Bhajan and folk Pahari Geet, including Dogri folk songs.

She was among the greatest singers of British India in the 1940s, and after partition of India in 1947, she migrated to Lahore and received further fame, through her radio performances.

9

Saturday, February 5, 2011

Crude oil firms up after US jobs; focus on Egypt Egypt in focus, analysts say protests supporting prices LONDON: Crude oil futures remained firm on Friday after US data showed a smaller-thanexpected gain in non-farm payroll jobs but a fall in the unemployment rate, while focus remained on Egypt as protests rolled into their 11th day.

US crude was up 79 cents at $91.33 a barrel by 1522 GMT. Brent crude for March rose by 24 cents to $102.0 a barrel.

The market digested mixed jobs data from the world's largest consumer, the United States, but the focus remained on Egypt where protesters continued to camp in Cairo's Tahrir Square demanding President Hosni Mubarak leave office.

The protests are the latest in a wave of unrest in the Middle East and north Africa, which together produce more than one third of the world's oil, and that has recently propped up oil prices.

"Everybody is watching what is happening in Egypt, it seems to be a crucial day," Credit Agricole CIB analyst Christophe Barret said.

Analysts said prices were likely to remain strong while the protests continue.

"The OPEC president has said

that oil above $100 is not desirable but while Middle East unrest continues prices will probably hold around here,"

US crude early-trade NEW YORK: US crude oil futures extended losses to more than $2 a barrel on Friday as investors liquidated positions amid speculation that an announcement was coming soon that Egypt's President Hosni Mubarak would step down.

The speculation developed based a television report that later appeared to be unfounded.

On the New York Mercantile Exchange, crude for March delivery was down $1.90 at $88.64 a barrel at 1659 GMT. It earlier dropped to a session low of $90.35.

Bache Commodities analyst Christopher Bellew said. "The terrible fear must be of this unrest spreading to a major producing country like Saudi."

Data from the world's largest oil consumer showed that US nonfarm payrolls grew by 36,000, well below forecasts for a rise of 145,000 as the severe weather conditions impacted the hiring process, but the unemployment rate fell to its lowest

level since April 2009.

"At face value, the payroll data looks negative, but with revisions and weather maybe not as bad," Tom Bentz, broker at BNP Paribas commodity futures in New York said.

"Meanwhile markets are still concerned about Egypt unrest continuing. Traders may still be concerned about being short ahead of weekend."

The rise in prices across the commodities spectrum and throughout other asset classes has sparked worries that risk appetite is getting too big, warning that political unrest could be one of the many triggers for a correction.

Front-month Brent has rallied by more than $7 since unrest in Egypt started, up from about $95 a barrel on Jan. 25. That 8 per cent gain is more than a third of last year's total increase of 22 per cent. Brent touched $103.37 on Thursday, its highest intraday price since Sept. 26, 2008.

JBC Energy consultants said in a note the rise in crude oil prices is however being overshadowed by the increase in other commodities such as copper and world food prices. Reuters

US cotton ends sharply lower after hitting record NEW YORK: US cotton futures closed sharply lower in volatile trading on Thursday, as profit taking pulled the market off its latest record high on a day when the ICE Futures US exchange moved to curb speculation.

Cotton futures closed with the biggest one-day decline since early December, Thomson Reuters data showed. The market had surged almost 30 per cent since the middle of January to the highest level in almost 150 years.

The key March cotton contract on ICE Futures US slid 4.36 cents to close at $1.7186 per lb.

The price swung wildly from $1.8122, up the 5 cent limit, to $1.7122, down the 5 cent limit.

Total volume hit 50,500 lots, the most in 2-1/2 months and more than 150 per cent above the 30-day norm, Thomson Reuters preliminary data showed.

Analysts said many investors liquidated long market positions

on a day that ICE moved to tighten control of positions in the spot contract before delivery.

Separately, the CFTC approved an expansion in the daily trading limits.

"Spec attitudes are they have made a lot of money and the heightened awareness that both the exchange and CFTC are now going to be getting involved encouraged some selling," said Mike Stevens, an independent analyst from Mandeville, Louisiana.

The market jumped early on panic buying as tight supplies forced overseas mills to scramble for cotton, dealers said.

There is also a large on-call position in the market from cotton buyers who purchased the fiber but now need to fix the price of their cotton.

"Finally, we did enough (in the rally) to get folks long enough," said Sharon Johnson, senior cot-

ton analyst for brokerage Penson Futures in Atlanta, Georgia.

The market will now turn its attention to industry group the National Cotton Council of America which will release its annual plantings survey for cotton at its annual meeting in San Antonio, Texas on Saturday.

The data is normally handed out late on Friday, but the NCC said it will instead be released on Saturday around 1530 GMT. A Reuters survey at the Beltwide Cotton conference this month had forecast US 2011 cotton plantings from 12.48 million to 12.53 million acres, a 5-year high and an increase of around 15 per cent from last year's cotton sowings of 11.04 million acres.

The United States is the biggest fiber exporter in the world and the anticipated increase in plantings is seen by some in the trade as not enough to meet robust global cotton demand. -Reuters

Gold eases from 2-wk high as markets digest US data Gold heads for first weekly gain this year LONDON: Gold retreats from earlier two-week highs, easing in line with softening oil prices, as the financial markets digest mixed US non-farm payrolls data, but the metal remains on track for their first weekly climb this year.

Gold bid at $1,347.70 an ounce at 1615 GMT against $1,353.25 late in New York on Thursday, having earlier touched a high of $1,357.93.

The data showed private employers added just 36,000 jobs in January rather than an expected 145,000, though the unemployment rate fell to its lowest level since April 2009.

"I think the market's confused," said Credit Agricole analyst Robin Bhar. "On the one hand we didn't get any rise to speak of in the payrolls, but we got a big fall in the unemployment rate, and a big gain the manufacturing sector."

"But then we got a fall in the construction sector, so there are a lot of mixed messages being sent out."

The euro extended losses to session lows against the dollar after the data, and was on track for a third negative session.

Usually a consequently stronger dollar would weigh on gold, but the correlation between the two has weakened this year.

Traders said the jobs picture may have been temporarily distorted by big storms in the

United States.

"At face value the payroll data looks negative, but with revisions and weather maybe not as bad," said Tom Bentz, a broker at BNP Paribas Commodity Futures Inc in New York.

Gold is on track for a positive

start to February, having posted a strong session on Thursday after comments from Federal Reserve chairman Ben Bernanke were taken to indicate that US monetary policy would stay accomodative.

Gold holdings of exchangetraded funds also inched higher, with those of the largest, New York's SPDR Gold Trust, edging up just over two tonnes on Thursday.

Silver bid at $28.87 an ounce against $28.91.

Holdings of the largest silver ETF, the iShares Silver Trust, fell more than 30 tonnes to their lowest since November on Thursday.

Platinum bid at $1,844.24 an ounce versus $1,834.99 while Palladium bid at $816.47 an ounce against $817.22. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 03 2011 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1310

1250

December (3rd Wednesday)

1310

1250

January (3rd Wednesday)

1310

1255

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for February 03 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY

Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller

2325 2345 2290 2310 2210 2220 2210 2220

2515 2516 2534.5 2535.5 2590 2595 2635 2640

9950 2641.5 9950.5 2642 9940 2577 9941 2580 9685 2520 9695 2525 9295 2465 9305 2470

27775 27780 27775 27780 26570 26670 25155 25255

TIN

30650 30700 30625 30650 30115 30165

ZINC NASAAC

2455 2458 2475 2476 2490 2495 2450 2455

2470 2475 2490 2495 2530 2540 2585 2595

Raw sugar probes near 30-year high LONDON: Raw sugar futures rose on trade and investor buying on Friday, buoyed by a scaledback forecast for Indian sugar output, while coffee futures retreated from near 13-1/2-year peaks.

Cocoa drifted further from last week's one-year high, in a tight range as traders pondered whether a call for a month-long export ban in top grower Ivory Coast would be extended.

Raw sugar futures rose as much as 3.8 per cent, drawing to within sight of 30-year peaks, after an Indian state cut its output view for the country's 2010/11 sugar crop to 24 million tonnes, below government estimates.

ICE March raw sugar was up 0.34 cent or 1.1 per cent at 32.38 cents a lb at 1546 GMT, recovering from its biggest one-day loss in a month on Thursday, and below the 30-year peak of 36.08 cents touched on Wednesday.

March white sugar was down $25.30 or 3.1 per cent at $788.90 per tonne in modest volume, below Wednesday's record high of $857.00 per tonne, as the contract caught up with the drop in New York after London markets closed.

Coffee moved further away from its recent 13-1/2-year high after tracking gains in other commodities for three days.

March arabica coffee futures on ICE dipped 1.35 cents or 0.5 per cent at $2.5000 per lb at 1546 GMT after touching a 13-1/2year peak of $2.5360 a lb on Thursday.

Liffe May robusta coffee traded down $12 or 0.5 per cent at $2,256 per tonne, below Thursday's 2-1/4-year high of $2,287 a tonne.

In cocoa, futures on ICE fell in light volumes, drifting further from last week's one-year high.

ICE benchmark March cocoa dropped as much as 3.5 per cent and later stood at $3,270 per tonne at 1546 GMT, down $88 or 2.6 per cent. It stood below last week's one-year peak of $3,420 per tonne.

London May cocoa fell 36 pounds or 1.7 per cent to 2,137 pounds a tonne, below a sixmonth peak of 2,269 pounds a tonne touched on Jan. 24. Reuters

Tokyo rubber hits record high BANGKOK: Tokyo rubber futures jumped to another record high on Friday on the back of firm oil prices and supply worries, but profit-taking capped gains, dealers said.

The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose 13.0 yen to settle at 502.9 yen ($6.16) per kg. It rose as high as 504.0 yen per kg before profit-taking set in.

Dealers said rubber futures could rise further next week after prices finished above the psychological level of 500 yen as concern over a fall in supply should provide support.

Supply in the world's top two producing countries, Thailand and Indonesia, is due to fall significantly in February and March when the two countries are due to be in the dry season and rubber trees stop producing latex. The offer price for Thai benchmark RSS3 rubber remained at a record high on Friday. -Reuters

RAYONG - THAILAND: Somporn Klaharn, 56, and his wife Thongshin, 49 work together in their small processing plant pressing sheets of rubberin Rayong, Thailand. -Reuters

Copper hits record high; positive US data mount up LONDON: Copper rose on Friday to a record high after data showing US unemployment fell to its lowest rate since April 2009, adding to signs of improvement in the world's largest economy.

Copper for three-months delivery on the London Metal Exchange closed at $10,050 a tonne, after touching a record high $10,100. It closed at $9,930 a tonne on Thursday.

Copper initially fell after data showing US nonfarm payrolls grew far less than expected in January, partly due to severe snow storms in large parts of the country. But the focus soon turned to figures showing the unemployment rate fell to its lowest level since April 2009.

"Sluggish job creation figures were balanced out by a larger than expected fall in unemployment which has kept the base metals bullish momentum unchanged," said Kamil Wlazly, a metals analyst at Metal Bulletin Research. "The monthly changes and the revisions in payrolls can be quite volatile, therefore the market looked more favourably on positive unemployment data."

On Thursday, US data included better-than-expected weekly ADP jobs figures and non-farm productivity figures, as well as a rise in new orders received by factories in December.

"Market participants looked at the (non-farm pay roll) data and came to the conclusion that the ADP data released two days ago

was more important," said Commerzbank analyst Eugen Weinberg. "Risk appetite is still high. In general we have seen very good economic data."

The jobs numbers are among the most keenly watched economic indicators from the world's second-biggest copper consumer after China.

Tin also rose to a record high $31,300, led by copper. Tin for three-months delivery closed at $31,200 from a close of $30,545 a tonne on Thursday.

"This buying has to be speculative buying. It is fresh fund buying," said Alex Heath of RBC Capital Markets. "Once you go through record highs you attract fresh money immediately. It is the same pattern for all metals."

Trade was thin as the Lunar New Year holidays that started on Wednesday shut markets in top base metals consumer China.

Stocks of copper at LME warehouses last fell 325 tonnes to 394,150 tonnes, a small decline but a bit of respite after recent inventory rises that have dented the demand outlook.

Aluminium closed at $2,541 a tonne from $2,528. Zinc closed at $2,506 a tonne from $2,472 and battery material lead finished at $2,584 a tonne from $2,554.5.

Stainless steel metal nickel was at $28,350 a tonne from $28,040.

Nippon Steel Corp and Sumitomo Metal Industries planned to create the world's No. 2 steelmaker, fanning expectations of further consolidation in the industry. -Reuters

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 May11/Jul11 1025.00-5.00, Aug11/Oct11 1030.00-3.00, Nov11/Jan12 1035.00-2.00.

RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1040.00-10.00, Aug11/Oct11 1000.00-5.00, Nov11/Jan12 1010.00+0.00, Feb12/Apr12 1015.00+0.00.

SUNOIL: EU dlrs tonne extank six ports option Feb11 1490.00+0.00, Mar11 1490.00+0.00, Apr11/Jun11 1480.00+0.00, Jul11/Sep11 1490.00+0.00, Oct11/Dec11 1420.00+10.00.

LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1575.00-7.50.

CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1315.00-15.00, Feb11 1317.5012.50, Mar11 1317.50-2.50, Apr11/Jun11 1300.00+0.00, Jul11/Sep11 1277.50-2.50.

COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2280.00-20.00, Mar11/Apr11 2245.00-5.00, Apr11/May11 2225.00+5.00, May11/Jun11 2215.00+15.00.

PALMKERNEL OIL: Mal/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2280.00, Mar11/Apr11 2260.00, Apr11/May11 2225.00. -Reuters

India sugar drops on higher supply, global cues MUMBAI: Indian sugar futures fell sharply in an active trade on Friday tracking overnight drop in the overseas markets and on higher supplies, dealers and analysts said.

New York raw sugar futures swung wildly on Thursday, rising up to near a 30-year peak as cyclone Yasi hit cane areas in Australia before a storm of profit-taking deflated the sweetener in its biggest one-day fall in over a month.

"Demand was weak for the past few days despite falling prices. It will be difficult for mills to sell

allocated quota for February," said a member of Bombay Sugar Merchants Association (BSMA).

India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January, the government said in a statement on Jan. 31.

Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis.

In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety eased

0.22 per cent to 2,694 rupees ($59) per 100 kg, after losing 5 per cent last month.

The most-traded M-grade sugar contract for February delivery NSMG1 on India's National Commodity and Derivatives Exchange (NCDEX) ended down 2.3 per cent at 2,708 rupees per 100 kg. Sugar output in India's Maharashtra state is up 13 per cent from a year ago, slightly slower than in January, a state industry body said, and it cut its output view for the country to 24 million tonnes, below government estimates. -Reuters

National Commodity Exchange Ltd Trading Summary Date

4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011 4-Feb-2011

Commodity

CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M

Contract Date

Price Quotation

Open

High

Low

Close

MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 10FE11 FE11 FE11 11-Mar 11-Jun

US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

91.70 94.08 96.32 28.20 28.21 1328.40 1329.20 1329.50 1328.90 1329.50 1329.90 36772.00 36693.00 36736.00 36656.00 36665.00 42755.00 42755.00 37715.00 37754.00 37767.00 37780.00 37702.00 44000.00 44563.00 44200.00 44620.00 44450.00 3200.00 3213.00 5473.00 86.18 85.46

91.70 94.34 96.32 28.97 28.88 1356.00 1356.00 1357.00 1348.70 1355.10 1349.10 37399.00 37255.00 37399.00 37219.00 37228.00 43411.00 43411.00 38271.00 38311.00 38324.00 38338.00 38351.00 44500.00 44563.00 44350.00 44620.00 44480.00 3207.00 3213.00 5481.00 86.19 85.48

90.10 92.92 95.63 27.99 28.21 1325.60 1326.00 1326.60 1328.90 1327.20 1329.90 36684.00 36693.00 36709.00 36656.00 36665.00 42755.00 42755.00 37715.00 37754.00 37767.00 37780.00 37702.00 43324.00 43369.00 43384.00 43399.00 43309.00 3200.00 3212.00 5473.00 86.18 85.46

90.98 93.61 95.63 28.87 28.88 1348.70 1349.10 1349.80 1348.70 1349.10 1349.10 37246.00 37255.00 37272.00 37219.00 37228.00 43411.00 43411.00 38271.00 38311.00 38324.00 38338.00 38351.00 43973.00 44019.00 44034.00 44050.00 44065.00 3207.00 3212.00 5481.00 86.19 85.48

Traded Volume in lots 480 125 220 4,349 3,626 1,872 91 13 3 3 9 2 1 31 -

Previous Settlement Price 90.90 93.51 95.55 28.82 28.83 1351.30 1351.70 1352.40 1351.30 1351.70 1352.40 37321.00 37330.00 37347.00 37293.00 37302.00 43498.00 43498.00 38346.00 38386.00 38399.00 38413.00 38426.00 44061.00 44107.00 44122.00 44137.00 44152.00 3200.00 3213.00 5473.00 86.18 85.46

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 90.98 63 93.61 49 95.63 3 28.87 29 28.88 2 1348.70 1,605 1349.10 1,350 1349.80 664 1348.70 1349.10 11 1349.80 37246.00 13 37255.00 1 37272.00 82 37219.00 1 37228.00 43411.00 43411.00 38271.00 38311.00 38324.00 38338.00 38351.00 43973.00 10 44019.00 3 44034.00 44050.00 1 44065.00 31 3207.00 3212.00 5481.00 86.19 85.48 -

Schild of Austria reacts after winning women's Alpine Skiing WC slalom race in Zwiesel

10

Saturday, February 5, 2011

Sehwag dubbed ‘fit’ for WC NEW DELHI: Key Indian opener Virender Sehwag is fully fit and raring to go, local media reported on Friday, boosting the country's chances of glory at the World Cup. Sehwag, 32, was ruled out of India's recent one-day series against South Africa due to a shoulder injury, raising doubts over his fitness ahead of the tournament, which starts on February 19.

"I was feeling some pain in my shoulder," Sehwag told media."So better to quit the South Africa one-dayers.

"I didn't want to get injured during the South Africa tour and miss the World Cup. So I came back and went to Germany to see a couple of doctors. I got a couple of injections and now I'm fine. "I am going to the National Cricket Academy (in Bangalore) and will spend a couple of days there to check everything if I can bowl and throw also but if I can't, then I'll let them know.

"But at the moment I'm fully fit." Sehwag, with 7,380 runs from 228 one-day internationals, is seen as key to India's batting fortunes at the showpiece event, being co-hosted by India, Sri Lanka and Bangladesh.

The aggressive right-hander said the team were upbeat about their opening tie against Bangladesh in Dhaka. India lost to the minnows in the 2007 World Cup in the Caribbean, a defeat that eventually led to their early exit from the tournament.

"Because we're playing the opening game against them in Bangladesh, Bangladeshi people are expecting them to beat us again," Sehwag said. "But this time we have prepared well.

"You can say it is a revenge game for us and we won't take the game lightly. We will give our best shot and we will come hard on Bangladesh."

India, World Cup champions in 1983 in England, have been placed in Pool B alongside South Africa, England, Bangladesh, West Indies, Netherlands and Ireland.-APP

Hayden opens 7-yr old Test case against India NEW DELHI: Former Australian opener Matthew Hayden has re-opened a sevenyear-old controversy by claiming that ex-India captain Sourav Ganguly and off-spinner Harbhajan Singh chickened out of the series-deciding 2004 Nagpur Test due to a fear of the green-top pitch there.

In his autobiography 'Standing My Ground', Hayden writes that the Australians felt at that time the nature of the pitch had led to the sudden withdrawal of Ganguly and Harbhajan from the Test, which the visitors eventually won to clinch a historic series win.

"The curator, a famously single-minded character with no love of the Indian hierarchy, ignored pleas to shave the deck and left a healthy covering of grass. It reminded me of Gabba.

To have that sort of wicket for the deciding Test of an away series - particularly in India was the most pleasant surprise imaginable," Hayden wrote.

"When Ganguly and Harbhajan went out to see the deck a couple of days before the game, they looked like farmers inspecting crops after a hail storm. We predicted neither would play, and they did not. Ganguly withdrew with a leg-muscle injury that flared up suddenly, and Harbhajan had an even more sudden dose of food poisoning.-Agencies

Afridi to lead Pak in CWC LAHORE: Players marching during the inauguration ceremony of Second Chief Minister Sports Competition at Punjab Stadium.-Staff Photo

Sharapova leads Russia against France in 1st round of Fed Cup MOSCOW: Three-time Grand Slam champion Maria Sharapova will play Virginie Razzano on Saturday when Russia hosts France in the first round of the Fed Cup. In the opening singles match of the best-of-five series, twotime major winner Svetlana Kuznetsova will face Alize Cornet.

"It will be my first time playing for Russia in Moscow," Sharapova said. "And I think my experience of playing in a team environment a couple of years ago will definitely help me."

Sharapova made her debut for Russia in the first round against Israel in 2008, winning

both her matches. She beat Razzano in the second round of the Australian Open.

Kuznetsova has played in three of Russia's four Fed Cup title wins and has a 18-6 record.

France will be without its two highest-ranked players, Marion Bartoli and Aravane Rezai. In their absence, coach Nicola Escude chose the 67thranked Cornet to lead the team.

Cornet lost to eventual champion Kim Clijsters in the third round of the Australian Open for the best showing among French women in the event. But Cornet, who is 1-8 in the Fed Cup, hopes she is

ready to challenge the Russian stars.

"I played two good matches at the Australian Open and it was a good start of the season," Cornet said. "I came to Moscow really self-confident and I hope I can now forget about the two poor last seasons in my career."

The Frenchwoman beat Kuznetsova in their only previous meeting on the WTA Tour in 2008.

"Our chances are good," Escude said. "We know we are not favourites for the tie but we are fit perfectly and we are ready to do our best to win." Agencies

England Cricket Board upbeat to keep $3.5mn Monitoring Desk ENGLAND: The England and Wales Cricket Board is confident that it will not have to repay any of the $3.5million it received from its ill-fated deal with Sir Allen Stanford despite the threat of legal action from the United States.

A local Englsih newpaper disclosed on Wednesday that the receiver acting for creditors of Stanford’s collapsed $7billion

empire were considering pursuing the ECB for the money.

The receiver is seeking to recoup about $14million paid to sports organisations, including Miami Heat and IMG Worldwide, and will consider similar action against the ECB. Kevin Sadler, a lawyer working for the receiver Ralph Janvey, urged the ECB to contact them to discuss the payments received from Stanford.

“The receiver strongly

encourages the ECB to contact the receiver to begin discussions concerning the circumstances of the significant payments made by Stanford to ECB,” he said.

The ECB has declined to comment publicly, but is understood to have received legal advice from its retained QC on Thursday that it would be able to defend any action brought by the receiver via the American courts.

City held, Suarez enjoys dream debut LONDON: Manchester City lost ground to local rivals Manchester United in the Premier League title race after twice giving up the lead in a 2-2 draw away to Birmingham. A share of the spoils at St Andrew’s left Roberto Mancini’s men eight points behind leaders United, having played a game more than

the table-toppers.

Carlos Tevez gave Manchester City a fourthminute lead with a neat goal which was levelled by Birmingham 19 minutes later when Serbia striker Nikola Zigic scored from close range.

City suffered a setback when defender Micah Richards, who

first needed several minutes of on-field treatment, was carried off on a stretcher following a head injury. However, they subsequently regained the lead when, four minutes before halftime, Aleksandar Kolarov curled a 25-yard free-kick around the wall for a fine goal.Reuters

KARACHI: All-rounder Shahid Afridi was confirmed as Pakistan's World Cup captain on Friday following his team's one-day series victory in New Zealand.

The Pakistan Cricket Board (PCB) named their 15-man squad for the tournament opening on Feb. 19 without naming a captain, fuelling speculation that test captain Misbah-ul-Haq could be appointed ahead of Afridi, However in a statement on Friday the PCB said Afridi, 30, a veteran of 311 one-day internationals, will lead the side for the World Cup which will be jointly hosted by India, Bangladesh and Sri Lanka. Misbah-ul-Haq will be the vice-captain.

"The board has also

Fifa mulls snood ban MANCHESTER: Fifa have put the wearing of the neckwarmer up for discussion at the meeting of the game's lawmaking body, the International FA Board (IFAB), on March 5.

Snoods have become increasingly popular in the Premier League after Carlos Tevez and Emmanuel Adebayor started the trend last season, but they are not officially-sanctioned kit.

A Fifa spokesman said: "We want a debate over the snood and whether it could be dangerous. There may be a safety issue - if for example a player was running through on goal and an opponent grabbed his snood, that could pose a potential danger to his neck."

Manchester United manager Sir Alex Ferguson has banned his players from wearing them, with club captain Rio Ferdinand saying on his Twitter account: "You won't see a Man Utd player wearing a snood."

Roy Keane has also declared his opposition to snoods, saying: "They've all gone soft. I don't know how they do it and focus on the game, it's weird.

That's the way the game's gone."

Fifa also want the IFAB to insist that if players wear tights then they should match the colour of the shorts.

Arsenal's Emmanuel Eboue and Bayern Munich's Arjen Robben have both worn tights in matches this season - but these would have complied with the proposed new rule as they did match the colour of the shorts.

Fifa are also looking to clarify the rules for referees to stop play when an object such as another ball, or an animal - comes onto the pitch.Agencies

retained Waqar Younis as chief coach and Aaqib Javed as bowling consultant for the World Cup," PCB media manager, Nadeem Sarwar said. He gave no explanation for the delay in naming a captain.

Sarwar said the board had also decided to send security advisor Wasim Ahmed with the team while former captain Intikhab Alam will continue as team manager.

Pakistan are in Group A of the World Cup alongside Australia, New Zealand, Sri Lanka, Zimbabwe, Canada and Kenya.

Former Pakistan captain Rashid Latif said Afridi was the correct choice.

"It was the logical thing to do because he has now been

leading the one-day side since last year and the players are also comfortable with him and understand his leadership style," Latif told Reuters.

"If anything I don't understand what prompted the board to delay the announcement. It only led to speculation which is not good for Pakistan cricket ahead of such an important event."

Another former test captain Zaheer Abbas said Afridi would now have to show great responsibility.

"He has a golden chance to create history for Pakistan because we haven't won the World Cup since 1992. Afridi because of his experience was the right choice," Zaheer said.-Reuters

White to captain Aus for 1st time in ODIs PERTH: Victorian all-rounder Cameron White will captain Australia for the first time in a one-day international in Perth against England on Sunday.

With the series sealed in Australia's favour 5-1, the selectors have decided to rest Michael Clarke and Shane Watson. In their place, West Australian batsman Adam Voges and Tasmanian off-spinner Jason Krezja have been called up.

The most surprising decision is the recall of Krejza after a two-year exile from the national team. Krejza was not picked in Australia`s provisional 30-man World Cup squad, but injuries to Nathan Hauritz, Xavier Doherty, Stephen O`Keefe and all-rounder Steve Smith have resulted in a

stunning recall for the offie.

It`s only come through injury, but any opportunity that`s there, you`ve got to grab it with both hands, and hopefully I can do that and play well if I get the opportunity to play,`` he told to reporters.

It`s the place I got dropped, it`s the place I`ve got picked now, so it`s a bit ironic. I never gave up hope. I just knew I was going to be a better bowler. I knew I`d have another opportunity and it`s come along now, so I`m pretty excited," he added.

Krejza is set to make his ODI debut, while Voges, who is averaging 62 in the national one-day cup and is also capable of bowling left-arm spin, is tipped to take Clarke`s slot in the middle order.-Online

India finish last in Pool A NONTHABURI: In a disappointing result, India ended at the bottom of Pool A in the Fed Cup Asia/Oceania Group I after losing 1-2 against Thailand in its last league engagement on Friday.

It was India's third consecutive defeat in as many days, as it earlier suffered defeats against China and Uzbekistan.

Now India will clash against Chinese Taipei, who finished last in Pool B. This will be India's last chance to stay in Group I as the loser will be relegated to Group II of the Asia/Oceania zone.

Earlier, the tie was locked at 1-1 on Friday after the singles matches and yet again the doubles rubber became decisive, which India lost with Sania

Mirza and Rushmi Charavarthi frittering away a one-set lead once again.

The Indian pair lost 6-3, 0-6, 5-7 to Noppawan Lertcheewakaran and Nungnadda Wannasuk.

Ashwarya Shrivastav made her debut in Fed Cup when she played the first singles against Nicha Lertpitaksincha, which the Indian lost 2-6, 0-6.

Sania, however, kept Indian chances alive with a 6-2, 6-0 win over Lertcheewakaran but could not help India record its first win in the event.

India were promoted to Group I last year when they won all the three ties - beating Singapore, Malaysia and Kyrgyzstan - without losing a rubber.-Agencies

Spinners, all-rounders an advantage: Dravid MUMBAI: Former cricket captain Rahul Dravid says the number of batsmen in the Indian team who can bowl part-time spin gives the Mahendra Singh Dhoni-led team an advantage in the World Cup commencing on February 19.

"India are obviously one of the favourites. They have been playing well for a number of years. It's a well-balanced side with a number of spinning all-rounders or parttime bowlers, which gives India a big advantage," said Dravid after receiving Ceat Cricket Rating World Cup Retro award.

Dravid also felt the real

Cup will start after the group stage when the quarter-finals commence with the top four teams in each of the two groups going into the knockout mode.

"Everyone knows who are going to be the quarter-finalists. The real World Cup will kick off then. I love to say India will win the Cup but every other team from the quarter-final will be fancying their chances," said Dravid.

Dravid said he was impressed with Dhoni's recent statement that playing at home is being looked as an added responsibility by the Indian team.

"It`s a great privilege to be

playing at home in front of home fans. Rather than seeing it as pressure, it should be seen as a great privilege," he said.

He also welcomed the format of the 2011 tournament and said "I wish it was there in 2007," referring to India's early elimination when he had led the team four years ago in the West Indies.

"It`s a matter of peaking at the right time, keeping fit and enjoying and keeping the spirit up during the long tournament," he added.

India`s only World Cup winning captain Kapil Dev, who was given the retro World Cup award for 1983,

advised Dhoni and is team "to enjoy playing in the tournament".

He also said the team should not depend on a single player. "I always believe a team should not be dependent on a single player. Let the best team win and my heart says it should be India," said the Haryana Hurricane.

He also said his Cup-defining innings of 175 not out at Tunbridge Wells against Zimbabwe that rescued India from a sorry 17 for 5 could not be recorded by BBC as the staff was on strike. "Even I would like to see it as I remember only a few things about it.

The India-

Zimbabwe match was not big for the British public or for BBC which was on strike," he said.

Former Australian opener Mathew Hayden, after receiving the retro award for 2007 World Cup, said his country is the winners of the last three editions of the World Cup. They stand a very good chance this time too.

"We Australians will keep fighting till the last and it will stand the team in good stage in the tournament."

"There is a great sense of mate-ship in the team. Shane Watson has started to finish off the match off his own bat like Adam Gilchrist used to

do. He has been playing very well over the last 18 months."

"In the Australian team, there are many leaders, a concept developed by Steve Waugh. There is a batting captain in Ricky Ponting, bowling captain in Brett Lee and fielding captain in Watson," he said.

Former Pakistan all-rounder and captain Wasim Akram, a member of the 1992 Cup winning squad, singled out variety in bowling in a team as the key factor in the coming World Cup. "Sri Lanka have Lasith Malinga and Muthiah Muralitharan who are wickettaking bowlers.-Online

US payrolls barely grow, but jobless rate plummets WASHINGTON: U.S. employment rose by a meager 36,000 jobs in January, far less than expected, as severe snow storms slammed large parts of the nation, but the unemployment rate fell to its lowest level since April 2009.

Despite the conflicting signals in the Labor Department's report on Friday, economists agreed a recovery in the labor market was proceeding apace if not gaining speed.

Many investors also saw the data as a sign of strength.

Government bonds sold off and the dollar rallied against the yen and the euro.

The payrolls gain reported

by U.S. employers was a quarter of the 145,000 gain economists had expected. But a separate household survey, which is used to determine the jobless rate, showed nearly 600,000 more people reported they were employed.

That surge in employment pushed the unemployment rate to 9 percent from 9.4 percent in December. The rate has dropped 0.8 percentage point since November, the biggest two-month decline since 1958.

"Looking at the two surveys together, they suggest that employment is going to pick up. Clearly it has lagged the other measures of activity, but we're in a jobs market recovery now," said Zach Pandl, U.S. economist at Nomura Securities International in New York.

"Looking at the two surveys together, they suggest that employment is going to pickup. Clearly it has lagged the other measures of activity, but we're in a jobs market recovery now," said Zach Pandl,

U.S. economist at Nomura Securities International in New York.

Economists estimate the blizzard, which pounded the Northeast in January and buried cities in knee-deep snow, reduced payrolls by between 50,000 and 75,000.

The government also revised November and December payrolls to show 40,000 more jobs created than previously estimated.

OUTLOOK IMPROVING Data on manufacturing and retail sales has suggested the economy's strong momentum continued into the new year.

Economists said January's employment report, excluding the weather effect, was consistent with the economy growing above 3 percent.

The labor market has lagged the broader economy, which grew at a 3.2 percent annual rate in the fourth quarter.

"We see significant potential strength in this report and will be looking to see whether the drop in the unemployment rate persists," said Michael Gapen, an economist a Barclays Capital in New York.

"If it does, then it will be a further signal that underlying job growth is stronger than reported and conditions in labor markets are better than advertised by the establishment survey."

Last month's drop in the unemployment rate was encouraging because it reflected more people finding work, even after adjustments for updated population controls.

In recent months, a large portion of the decline in the jobless rate reflected people giving up the search for work, meaning they were no longer counted among the ranks of

11

International & Continuation

Saturday, February 5, 2011

the unemployed.

Still, the decline is unlikely to discourage the Federal Reserve from completing its $600 billion government bond-buying program to support the economy.

Fed Chairman Ben Bernanke on Thursday acknowledged the pick-up in the recovery, but said "it will be several years before the unemployment rate has returned to a more normal level."

The Labor Department also finalized its annual benchmark revisions to its payroll series, which showed the level of employment for March 2010 was overstated by 378,000.

Last month, the private services sector added only 32,000 jobs after increasing 146,000 in December. The sector accounts for more than 80 percent of jobs in the United States.

Payroll increases in goodsproducing sectors rose 18,000, as manufacturing employment grew 49,000, the largest increase since August 1998, after rising 14,000 in December.

Severe weather could have affected construction payrolls, which dropped 32,000 last month. There were also large declines in the employment of couriers and messengers.

Government payrolls dropped 14,000 in January, marking a third straight month of declines, pulled down by state and local governments.

The weather effect was also apparent in the average workweek, which slipped to 34.2 hours from 34.3 hours in December.-Reuters

Canada jobs jump past expectations in January OTTAWA: Canadian job growth surged past expectations in January, with the economy officially recouping all the jobs lost in the recession, underscoring that its recovery is on track even as the U.S. labor market struggles.

Statistics Canada data on Friday showed the economy added 69,200 new positions, far more than the 15,000 markets had expected. The unemployment rate, which had been forecast to remain unchanged, grew to 7.8 percent from 7.6 as more people looked for jobs.

The gain was the largest since April 2010. The Canadian dollar pushed to a 2 1/2-year high after the news as analysts were heartened by the healthy economic picture, though they continue to expect the Bank of Canada will leave rates steady in the near term.

"This is a strong report through and through," said David Tulk, chief Canada macro strategist at TD Securities in Toronto.

Canada has now added just under 100,000 jobs in the last two months. Canada had been thought to have already regained the jobs wiped out by the recession until a data revision last week showed the amount of new hires fell short.

The number was in stark contrast to data south of the border where U.S. employment rose far less than expected last month, although the unemployment rate fell to its lowest level since April 2009.

The Canadian employment gain in January was evenly split between full- and part-time positions. The service sector added 49,400 jobs, with particular strength in business, building and other support services.

"You look at the composition of jobs that were very evenly split between full-time and part-time, public sector and private sector -- all just very good numbers," said Tulk.-Reuters

Paris, Berlin launch EU competitiveness pact BRUSSELS: Germany and France proposed a competitiveness pact for Europe on Friday and EU leaders discussed strengthening a euro zone rescue fund, hoping to win back market confidence in the bloc's public finances.

Paris and Berlin -- the driving forces behind euro zone policy -- set out a wish-list of measures they want euro zone and other countries to sign up to including: "Germany and France will make it very obvious that we intend to defend the euro as a currency ... we also want to defend it as a political project," German Chancellor Angela Merkel told a joint news conference with French President Nicolas Sarkozy just before a presentation to EU leaders.

"We want to send out a clear message, that as the European Union, we intend to grow together. What we want to establish is a pact for competitiveness," she said.

The two biggest euro zone economies want the pact to be part of a "comprehensive package" that leaders agree in March, when they hope to agree a series of measures to help draw a line under the euro zone's year-long sovereign debt crisis.

"We are working hand in glove, France and Germany, with a clear, total determination to support the euro," Sarkozy said.

The package is to include changes to the European Financial Stability Facility, the 440 billion euro bailout fund agreed last May, to increase its effective lending capacity and give it more flexibility on how to use its money. In draft conclusions prepared ahead of the summit, the 27 heads of state and government said they

would consider "concrete proposals" for strengthening the EFSF "to ensure the necessary flexibility and financial capacity to provide adequate support", with those discussions being finalized next month.

EU diplomats said no major decisions would be taken on Friday as market pressure on debt of Greece, Ireland, Portugal or Spain has eased.

But officials understand that failure to agree on concrete measures before the next scheduled summit on March 24-25 could reignite the conflagration in the markets.

In a sign of returning investor confidence, Spain's borrowing costs fell sharply at bond auctions on Thursday. Portugal has also had encouraging recent debt sales.

Strengthening the EFSF has been the focus of discussion for months, since it became clear its effective lending capacity was only about 250 billion euros, not 440 billion, due to guarantees built into the fund to maintain its triple-A credit rating.

Given its lending limitations, there are concerns that if Portugal and Spain were both to end up needing a bailout, the EFSF would not have sufficient funds.

European Central Bank President Jean-Claude Trichet, who held talks with EU leaders over lunch, is among those calling for the EFSF to be enlarged and made more flexible, so that it is not just a bailout lender of last resort.

RESISTANCE The EFSF is the chief weapon in the EU's arsenal, but deep disagreement remains over how it should be strengthened, with Germany determined to secure stricter budgetary commitments from other

euro zone members and reforms boosting competitiveness in exchange for agreeing amendments to the fund.

Economics and Monetary Affairs Commissioner Olli Rehn praised Germany for entering the crisis stronger than others in the EU thanks to broad structural reforms since the 1990s.

"It is important for everyone that other countries now manage to do what Germany and a few other member states have already managed in past years," Rehn wrote in a column in the German daily Handelsblatt.

Most of the proposals by Berlin and Paris have already been set out by the European Commission in January in its Annual Growth Survey as part of the new, tighter budget coordination process called the European Semester.

"The ideas presented by some member states fit very well with this overall approach of reinforcing our governance," European Commission President Jose Manuel Barroso said.

But some of the competitiveness reforms proposed by Brussels, Paris and Berlin met with immediate resistance.

"I don't think it's possible for the European Union to regulate the pension age because there are large differences in the individual countries," Austrian Chancellor Werner Faymann said. "I don't think it's right to interfere in wage negotiations, like some have demanded."

There remains the risk that Friday's summit will underline just how far apart states remain, with Germany largely backed by the likes of France, Finland and the Netherlands, while Greece, Italy, Spain and others pull in different directions.Reuters

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to close early, undermining Pakistan's economy. The government is now engaged in a major drive to expand its energy sources, including tapping renewable energy resources such as wind, given around 50,000 megawatts of capacity are available in the south of the country alone.

"We estimate that three to five projects will come on line following ADB's support for Zorlu Enerji's wind farm," said Siddhartha Shah, Senior Investment Specialist in ADB's Private Sector Operations Department.

Zorlu Enerji, listed on the Istanbul Stock Exchange, owns and operates Turkey's largest wind farm. It is 68 per cent owned by Zorlu Holding AS, one of the largest conglomerates in Turkey.

The existing 6 megawatt wind farm project is currently dispatching power to the Hyderabad Electric Supply Company. Once the second construction phase is complete - expected in 2012 - the 56.4 megawatt wind farm will supply power to the national grid through a 20-year take-or-pay power purchase agreement with the National Transmission and Dispatch Company. The approved tariff will ensure that the electricity is priced competitively, with the rate dropping over time as project debt is paid down.

"The project will have multiple benefits including helping realise the government's target of 6 per cent renewable energy in the total power mix by 2030, and contributing to employment opportunities and economic growth in one of the poorest regions of the country," said Mr. Shah.-Online

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an IMC spokesman said that the fact is that IMC has increased its prices by only 7 per cent during last 2 years (Jan 09 till Dec 10). He said that reasons for increase in locally produced car rates are not hidden from consumers who understand our currency has devalued a lot and the prices of each and every commodity have skyrocketed during the said period.

He said that during the same period the rates of natural gas increased by 13 per cent, electricity by 34 per cent, diesel by 34 per cent and petrol by 20 per cent. He said in the international market during the same period the rate of steel increased by 27 per cent from $586 to $746 per tonne while the rates of polypropylene, aluminum, copper, and lead increased by 67, 35, 24 and 45 per cent respectively.

He said that these are important inputs in car production while the local OEMs absorbed most of the hike-shock in cost of doing business and passed on a bit of it to the consumers.

Moreover, the rate of US dollar increased by 6.1 per cent against the rupee from Jun 2009 to date while the rupee depreciated 20 per cent against Japanese yen during the same period increasing the cost of imported parts used in locally made vehicles.

He said that carmakers generally had to adjust the prices keeping in view the increase in cost of production. However, he added that the producers have also made downward adjustments in rates whenever they got some space. Another impression that previous instance of allowing 5-year old cars did not affect the local OEMs is incorrect, as it was the year when demand was exceeding supply and local manufacturers invested billions of rupees to enhance their productivity to bridge the gap. But the present statistics reveal otherwise, as demand has gone down less than 125,000 cars annually and the production capacity has increased by more than 275,000 cars per annum, the spokesman said.

Sindh Agha Jan Akhtar, Secretary Livestock Laeeq Memon, Secretary Industries Zameer Ahmed, Secretary to Chief Minister Sindh Ahmed Bux Narejo, MA Jabbar, Dr Syed Nadeem Qamar, Anjum Nisar, Syed Muhammad Nawaz Shah, M Rehman Saeed , Dr Ibrahim Shah Bukhari and others.-NNI

No #4

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of law. Besides Pakistan, the chief justices of other Commonwealth countries including Canada, India, Caribbean, UK, South Africa, Bangladesh, Sri Lanka, Malaysia, Singapore, Australia and New Zealand will also attend the conference.

During his stay in India, Justice Chaudhry will also meet with Indian Chief Justice MH Kapadia.

Meanwhile Senior SC Judge Javed Iqbal has taken oath as acting Chief Justice. Senior SC Judge Justice Shakirullah Jan took oath of Justice Javed Iqbal in a simple ceremony. Justice Javed Iqbal will perform the duties of acting Chief Justice till the return of Justice Iftikhar Chaudhry from India.-Agencies

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0master plane, several short-term and long-terms projects would be completed soon. He said the nuclear power plant is producing 300MW electricity and efforts are being made for 600MW productions. Syed Khurshid Shah assured National Assembly that, complete implementation would be made over the decision of Standing Committee over the issue of employees housing scheme.-Online

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in Khyber Pakhtunkhwa, Punjab and Balochistan.

To a question he said the government provided Rs260 billion loans to the farmers during the last financial year besides spending Rs62 billion on agricultural research and development projects which helped increase production. Answering another question Nazar Muhammad Gondal said lining of 14262 kilometres long watercourses has been completed during the last three years while work on the lining of more watercourses is underway which is expected to be completed by June this year.

Minister for Livestock Mir Humayun Aziz Kurd informed the House that over three hundred thousand animals have been exported during the last two years. Minister for Health Makhdoom Shahabuddin informed the Senate that the government has approved a revised plan for the National Aids Control Programme under which about Rs2 billion would be spent to prevent this disease.-NNI

No #7

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The Chief Secretary Sindh said that they are focusing mainly on redressal mechanism for the selection of affected persons for awarding the onward compensation to the flood victims and hopefully they said this process shall be completed soon in coordination with Nadra and Provincial Natural Disaster Management Authority (NDMA).

The Chief Secretaries of Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashmir and Gilgit-Baltistan also highlighted their respective work done in this regard.Meanwhile Federal Finance Minister Dr Abdul Hafeez Shaikh on Friday asked the management of the Pakistan International Airlines (PIA) to come out with certain concrete and practical suggestions for revamping and reorganising the airline.

He said that the suggestions may indicate the bottlenecks and Continued from page 1 No #3 Rs30 million bank loan, and Rs20 to Rs30 million to be invest- constraints in the way of the airline for its development and ed by private partner selected through transparent process with progress.The Cabinet Committee on Re-Structuring of Public complete management control. The meeting was attended by Sector Enterprises headed by Dr Abdul Hafeez Shaikh met here to Advisor to CM for Investment Zubair Motiwala, Sindh Finance have a briefing on the national carrier, Pakistan International Secretary Muhammad Siddique Memon, Secretary Agriculture Airlines Corporation (PIAC).-APP

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Minister for food and agriculture Nazar Muhammad Gondal said government was not allowing any subsidy on fertilisers.He said this while giving replying to questions from several senators during question hour in the Senate on Friday.He told that Zarai Tarqiati Bank would provide credit facility to tea growers. Azad Kashmir and Northern areas were very effective areas for tea cultivation, therefore, talks were underway with forest department to purchase the land, he said.

Senator Tahir Hussain Mashdi staged walk out from the session after he was disallowed by the chairman senate to table adjournment motion. Chairman senate said he neither belonged to government nor to opposition but he was chairman of the house.-Online

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side foreign ministry is in contact with PIA on this matter and PIA flights will leave for Egypt within 24 hours and all the expenses in this respect will be borne by ministry of foreign affairs.

Pakistan ambassador in Egypt, Seema Naqvi said that all Pakistanis in Egypt were safe but they could face food problem in case the protests prolong.

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17 per cent to 1.7 million tonnes and 0.73 million tonnes, respectively.

No #11

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ordered to appear at London's City of Westminster Magistrates Court on March 17.

"Summonses for the same court date have been issued for the three players and they have been asked to return to this country voluntarily, as they agreed to do in September last year," Clements said. "Their extradition will be sought should they fail to return," he added.-Reuters

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their just struggle for freedom and against atrocities being committed by the Indian occupational forces. AJK government as well as social, political and Human Rights organisations are hectically engaged to chalk out elaborate programmes to re-pledge their solidarity with their brethren. The day will dawn with special prayers in the mosques after Namaz-e-Fajr, offering "Fateha" for the martyrs of Kashmir and for the early success of Kashmir liberation movement.

One-minute silence will be observed across the country and in AJK to pay homage to Kashmiri martyrs. Prime Minister Syed Yousuf Raza Gilani would address the joint meeting of Azad Kashmir Legislative Assembly and Kashmir Council.-Online

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leaders and the political parties in the Parliament to work together in finding a solution so that misuse of the law could be prevented. There was no other forum better than the Parliament for this purpose, the President said. Talking about the incident in Lahore of a US national involved in the murder of Pakistani nationals, the President said that the government had taken a principled position that the matter was before the judiciary whose verdict should be awaited and respected.

Meanwhile, Prime Minister Syed Yousuf Raza Gilani has constituted a Committee, to be headed by Senator Mian Raza Rabbani, to restructure and re-define the role of the Federal Vocational and Technical Training Institutions in light of the 18th Constitutional Amendment.

The Committee will consist of Shahnaz Wazir Ali, Special Assistant to the Prime Minister, Federal Secretary for Labour and Manpower, Secretary Overseas Pakistanis and Executive Director, National Vocational and Technical Education Commission (NAVTEC). On another occasion Prime Minister Syed Yousuf Raza Gilani has said that political reconciliation and accommodation of each others' point of view offers solutions to our political, economic and security problems.

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"Several technical elements are gathered to forecast further upside on the European index.

Indeed, the area between 2,960 and 2,980 points plays a support role," he said, citing 2,980 as an entry point, with a first target of 3,025 points. Across Europe, Britain's FTSE 100 ended up 0.2 per cent, while Germany's DAX and France's CAC-40 both ended up 0.3 per cent. Cable & Wireless Worldwide was among the top risers among individual names, closing up 4.6 per cent after market talk emerged of bid interest from an unnamed British company.

The telecom declined to comment. Also on the upside, Swiss biotech firm Actelion rose 4 per cent, outperforming a 0.1 per cent fall in the European healthcare index, after a leading hedge fund investor called for a management shakeup. A late afternoon statement from the firm rejected the demands. Among heavyweight sectors, the STOXX Europe 600 Basic Resources closed up 0.6 per cent, boosted by a push through the $10,000 a tonne barrier for copper and gains for other industrial metals after the falling US jobless rate buoyed the demand outlook.Reuters

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ADB to help build Pakistans’s 1st private wind power plant

Power blackouts kill growth: ADB Bank says Pakistan wind power sector investment-worthy

CAIRO: Army soldiers monitor anti-government demonstrators in Tahrir Square in Cairo, Egypt. -Reuters

Egypt protests turn violent

Change roars in Pharaohs’ land CAIRO: Protesters demanding President Hosni Mubarak's ouster packed Cairo's central square by the tens of thousands Friday, waving Egyptian flags, singing the national anthem and cheering, appearing undaunted and determined after their camp withstood two days of street battles with regime supporters trying to dislodge them.

Thousands including families with children flowed over bridges across the Nile into Tahrir Square, a sign that they were not intimidated after the protesters fended off everything thrown at them by pro-Mubarak attackers - storms of hurled concrete, metal rebar and firebombs, fighters on horses and camels and automatic gunfire barrages. The protesters passed through a series of beefed-up checkpoints by the military and the protesters themselves guarding

the square.

The crowd was the biggest since Tuesday, when a quarter-million turned out. A man sitting in a wheelchair was lifted - wheelchair and all - over the heads of the crowd and he pumped his arms in the air. Thousands prostrated in noon prayers and immediately after uttering the prayer's concluding "God's peace and blessings be upon you," they began chanting their message to Mubarak: "Leave! Leave! Leave!"

Egyptian Defense Minister Hussein Tantawi visited the square Friday morning and talked to protesters, the most prominent government official to do so in more than 10 days of unprecedented demonstrations demanding an end of Mubarak's nearly 30 year rule. Soldiers checked IDs to ensure those entering were not police in civilian clothes or ruling party members and performed

CM Sindh presides voer 3rd meeting of Sindh BoI

Qaim commands fresh inflows fast KARACHI: Chief Minister Sindh Syed Qaim Ali Shah Friday presided over the 3rd meeting of Sindh Board of Investment at Chief Minister House.

Speaking on the occasion, Chief Minister Sindh stressed the need to project the incentives and facilities to intending investors in a befitting manner so as to attract maximum investors to invest in various project in Sindh province.

He said that there is a vast scope of investment in various sectors particularly in coalmining, power generation, wind energy, trade development, and halal food marketing etc and it is the utmost need of the hour that Board members should play vital role for enhancement of investment atmosphere in the province.

About the subject of Electricity, the Chief Minister Sindh said that the electricity is not a federal subject and it is now under the purview of Council of Common Interest (CCI) after the passage of 18th Amendment.

He informed the Board that the tariff we will have the tariff approved by CCI. He further said that CCI is the best forum to plead, present and fight

the case. It was also decided to form various committees headed by members of Board.

The meeting was informed that a Seminar/Exhibition 2011 on livestock, Dairy, Fisheries & Poultry will be held on 7th and 8th February 2011 at Karachi Expo Center.

Earlier, Secretary Investment Sindh Muhammad Younis Dhaga in his presentation said that Sindh Board of Investment has to work on new avenues for power generation and agro-processing.

He also detailed the progress on Memorandum of Understanding on Sindh Investment Conference 2010, which included MoU with Iran, MoU with Azur Solar of Germany, MoU with Trans Atlantic, MoU with Pasdec, MoU with Zarai Tarqiati Bank Ltd and SBL and PHDEC, and an MoU for Dates Processing Plant.

He added that the project will be offered to private sector on Public Private Partnership mode. Moreover PHDEC will lend Rs20 million --interest free-- to be paid back in 3-5 years in this regard, and See # 3 Page 11

body searches at the square's entrances, a sign that Egypt's most powerful institution was sanctioning the demonstration - though Tantawi tried to convince those he spoke to end it.

Protesters labeled the rally the "day of leaving," a reference to their demand Mubarak go on Friday. Some held up signs reading, "Now!" Mubarak insists he will serve out the remaining seven months of his term. He told ABC News that he wants to step down but that doing so would spark chaos, and he vowed not to leave Egypt.

The Obama administration said it was in talks with top Egyptian officials about the possibility of Mubarak immediately resigning, and an interim government forming before free and fair elections this year.

US officials said the creation of a mil-

IMC red-signals fleecing charges Staff Reporter KARACHI: It is being repeatedly mentioned in a section of press that Indus Motors increased prices of its vehicles enormously during past 2 years. It is very misleading and creating confusion at a time when multi-billion dollar local industry is passing through its most difficult time.

A spokesman for IMC while reacting to statements and comments by some analysts and government officials said that the facts are being distorted in connivance with vested interests which is causing irreparable damage to local industry base employing thousands.

In a statement issued today, See # 2 Page 11

ISLAMABAD/NEW DELHI: Chief Justice of Pakistan Iftikhar Muhammad Chaudhry arrived in New Delhi on Friday to attend 17th Commonwealth Law Conference.

On his arrival, the chief justice was received by the high officials of Pakistani High Commission in New Delhi and organisers of the conference.

The five-day Commonwealth Law Conference will start today (Saturday) in Indian city of Hyderabad. Indian Prime Minister Manmohan Singh will the chief guest at the inaugural sitting of the session.

The conference will end on February 9, but the chief justice will return to Pakistan on February 7.

The purpose of the conference is to utilise the experience of the Commonwealth countries about their administrative system for provision of justice.

The conference will also discuss hurdles in the way of rule See # 4 Page 11

Ashraf denies industry shutdown on outages ISLAMABAD: The Minister for Water and Power, Raja Pervaiz Ashraf Friday informed the National Assembly that there is no information about the closure of industry due to shortfall of power in the country, and the supply of electricity to textile industry is our first preference.

Minister of Water and Power told National Assembly (NA) that, the supply of electricity to industry will continue on priority basis. He also said that he could not give any deadline for the end of load shedding.

He said, the production of electricity has increased up to 1754MW last year, wherein 2011 this production would cross the figure of 1150MW. He further said that, for the last two and half years the project of Mangla upgradation has been completed.

Answering to the question of Qudsia

ISLAMABAD: The Senate has been informed that efforts are underway to enhance production of non-traditional crops including jute, olive and tea besides traditional crops of wheat, cotton and rice.

Responding questions in the House on Friday, Minister for Food and Agriculture Nazar Muhammad Gondal said successful experiments have been made for production of tea and olive.

A commercial tea production project through public private partnership is now in progress to cultivate tea at 4200 acres of land in Khyber Pakhtunkhwa and Kashmir. Similarly he said incentives are being provided to the farmers to cultivate olive See # 6 Page 11

Arshad, he said there is no information from around that country that the nonavailability of furnace oil caused the closure of power plants and there could be some other reasons for it, as furnace oil supply to power plants in the country was smooth.

Answering to the question of Abdul Qadir Khanzada, he said, a power project in Karachi is in progress and 110MW electricity is being produced, whereas total of 235MW electricity would be produced from this project.

He further added that the right has been given to provincial governments to produce electricity and in this connection KP government has completed a hydel project.

He added that, a master plan has been prepared to control the shortage of electricity and while implementing the See # 5 Page 11

Hiked prices by only 7pc in last 2yrs: company

CJ off to India for C'wealth law moot

Ground to be broken for tea, jute, olive: Gondal

Electricity to textiles, 1st priority: minister

itary-backed caretaker government was one of several ideas being discussed between the Egyptian regime and the Obama administration. The American officials spoke on condition of anonymity to discuss the continuing sensitive talks.

Among the options was a proposal for Mubarak to resign immediately and cede power to a transitional government run by Vice President Omar Suleiman, the officials said.

Prominent reform advocate Mohamed ElBaradei called on Mubarak to "hear the clear voice coming from the people and leave in dignity." "The quicker he leaves in dignity the better it is for everybody," said ElBaradei, a Nobel Peace laureate who has become one of the leaders of Egypt's protest movement.Reuters

MANILA: The Asian Development Bank will be providing a loan to help fund the first privately owned and financed wind farm in Pakistan.

According to the press statement the output from the plant will provide much-needed additional power to improve the country's energy security, and lower reliance on fossil fuels.

Zorlu Enerji Electrik Uretim, will use the $36.8 million loan to install wind turbines to increase the output of its wind farm - located in the southern Sindh province, 100 kilometers northeast of the commercial hub Karachi - from the current 6 megawatts to a total 56.4 megawatts.

"Acute energy shortages,

caused by low investment, are cutting into Pakistan's economic growth," said Michael Barrow, Director in ADB's Private Sector Operations Department. "This deal should provide a bankable template for future privately funded wind projects, and send a signal that Pakistan's wind sector is attractive for private sector investment and financing."

Pakistan relies heavily on imported fossil fuels for the bulk of its energy needs.

However, this is costly, puts a heavy burden on Pakistan's foreign exchange reserves, and leaves the country vulnerable to supply disruptions and global price fluctuations.

Investment in new capacity has lagged, whereas demand has surged by over 40 per cent over the past five years, resulting in regular brownouts in all major urban centers and the introduction of power rationing. This has forced shops and industries See # 1 Page 11

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