International Karachi, Saturday, January 8, 2011, Safar-ul-Muzaffar 3, Price Rs12 Pages 12
Expedite 26/11 trial, Singh tells Pakistan
Asma Jehangir Likely to Govern Punjab ‘West to back PPP govt after Taseer-tragedy’
See on Page 12
England set Aussie Ashes on fire, make history See on Page 10
See on Page 12 Economic Indicators Forex Reserves (1-Jan-11) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Oct 10)
GDP Growth FY10E Per Capita Income FY10 Population
MQM returns to govt, but not to Federal Cabinet
$17.20bn 14.44% $8.88bn $15.37bn $(6.49)bn $(504)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5348.6bn $287.9mn -2.81% 4.10% $1,051 171.48mn
Gilani back in business ‘N’ ultimatum to be examined at party level: PM
Portfolio Investment SCRA(U.S $ in million)
Staff Reporter
158.67 -36.72 -22.15 2900
Yearly(Jul, 2010 up to 6-Jan-2011) Monthly(Dec, 2010 up to-6-Jan-2011) Daily (6-Jan-2011) Total Portfolio Invest (31 Dec-2010)
NCCPL (U.S $ in million)
FIPI (7-Jan-2011) Local Companies (7-Jan-2011) Banks / DFI (7-Jan-2011) Mutual Funds (7-Jan-2011) NBFC (7-Jan-2011) Local Investors (7-Jan-2011) Other Organization (7-Jan-2011)
3.69 4.28 0.06 -6.77 -0.26 -0.96 -0.05
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,389.04 10,541.04 23,686.63 19,691.81 2,752.33 2,838.80 6,004.60 11,693.45
Change 65.57 11.28 99.67 492.93 4.47 14.60 14.91 3.86
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)
$.Price PKR/Shares 2.60 111.36 23.56 201.81 2.00 42.83 1.70 36.41 11.09 37.98
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
29-Dec-2010 29-Dec-2010 29-Dec-2010 29-Nov-2010 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011 07-Jan-2011
13.20% 13.41% 13.73% 14.00% 13.27% 13.47% 13.65% 14.01% 14.15% 14.29 % 14.31 % 14.35 % 14.60 % 14.78 % 14.98 %
Commodities *Crude Oil (brent)$/bbl 94.20 *Crude Oil (WTI)$/bbl 89.01 *Cotton $/lb 141.10 *Gold $/ozs 1,368.00 *Silver $/ozs 28.83 Malaysian Palm $ 1,224 GOLD (NCEL) PKR 37,502 KHI Cotton 40Kg PKR 10,503
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 84.40 Canadian $ 85.20 Danish Krone 15.00 Euro 111.30 Hong Kong $ 10.50 Japanese Yen 1.015 Saudi Riyal 22.77 Singapore $ 65.50 Swedish Korona 12.00 Swiss Franc 86.60 U.A.E Dirham 23.07 UK Pound 132.20 US $ 85.75
Sell (Rs)
85.40 86.20 15.10 113.50 10.60 1.041 22.93 66.50 12.70 86.80 23.48 134.00 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
85.11 85.96 14.96 111.44 11.02 1.028 22.85 66.12 12.49 88.81 23.33 132.44 85.66
85.31 86.16 14.99 111.7 11.05 1.031 22.91 66.27 12.52 89.02 23.39 132.75 85.84
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
15°C 27°C 10°C 09°C 15°C 15°C
MIN
00°C 07°C 02°C 01°C -06°C 02°C
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KARACHI: Prime Minister Syed Yousuf Raza Gilani addressing the media after the meeting with MQM Rabita Committee at Nine Zero. -APP
Cut subsidies spend on uplift, Fund advises Pakistan
Energy subsidies anti-economy: IMF
WASHINGTON: In a rebuke to Pakistan, the IMF has asked it to cut its energy subsidies saying they were crippling its economy, just hours after beleaguered Prime Minister Yousuf Raza Gilani bowing to political pressure reversed the controversial fuel price hike. Terming the energy subsidies as "inefficient and untargeted," IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget. Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large com-
panies and Pakistan government should make efforts that it's spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. The lender of the last resort in 2008 rescued Pakistan from bankruptcy and has extended an $11.3 billion stand-by arrangement. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF plan. However, energy subsidies consume a large part of the budget," Atkinson said at a news briefing. She said the IMF arrange-
India upbeat on bringing Pakistan around
Onions may restart wheeling to India NEW DELHI: Indian foreign minister SM Krishna Friday said that Pakistan has agreed to resume exporting onions to India. Earlier in the day, talking to a press conference in New Delhi, Krishna, “We have initiated talks and before not too long we are hopeful we will find a solution to this, easing pressure within our country for onions." Indian authorities have also requested Pakistan government to allow export of onions in bulk through rail and ship routes, sources said. Authorities banned onion exports after India stopped exports of cotton, hitting Pakistan. The ban on the export of the commodity via land route
was enforced on Thursday after 300 India-bound trucks loaded with about 3,000 tonnes of the commodity had reached the Wagah border near Amritsar. Earlier, Indian Commerce Secretary Rahul Khullar had said that a contract has been entered into for Pakistani onion supply at Mundra port at Gujarat. However, if the supplies have to be diverted from Wagah border for arrival through ship routes, it would take at least few more days to reach India. An official spokesperson said in New Delhi that the government is trying to resolve the issue with Pakistan. "Government is working on See # 5 Page 11
Textile exports jumped 20pc last year
Law to halt cotton, yarn hoarding afoot ISLAMABAD: Minister for Textile Industry Rana M Farooq Saeed Khan Friday told the National Assembly that Textile Industry (Development and Promotion) Act is being framed to stop mills or other parties from hoarding cotton and yarn. Replying to a question, he said that currently the ministry has no legal instrument to discourage such hoarding. He expressed the hope the act would be finalised in two months which would address hoarding issue. He said at present, the provincial governments are playing a significant role in checking the hoarding and
speculation in cotton & yarn markets. To a supplementary question, he said the country's textile export has witnessed 20 per cent growth last year. Minister for Minorities Affairs Shahbaz Bhatti informed the House that an amount of Rs81,823,489 was spent on the welfare of the minorities across the country during 2009-10. He said a special nonlapsable fund is operative in the ministry for the welfare and uplift of the minorities. The fund is utilised for acquisition and improvement of burial places and repair/renovation/extension of See # 7 Page 11
ment with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support," she See # 4 Page 11
Backpedaling on fuel price rise a mistake, says Clinton WASHINGTON: US has said it was a ''mistake'' for Pakistan to reverse the controversial fuel price hike as it would hit the country's efforts to bolster its ailing economy. Making it clear that Washington wants Islamabad to continue taking tough measures to revive economy, Clinton said, "We have made it clear...that we think it is a mistake to reverse the progress that was being made to provide a stronger economic base for Pakistan". Her strong comments came as IMF in a sharp rebuke to Islamabad asked it to cut its energy subsidies saying they were killing its economy. “We have made it known to See # 6 Page 11
KARACHI: After intense political activities over the past few days and Prime Minister Syed Yousuf Raza Gilani's visit to Nine Zero (MQM's headquarter) in Karachi, MQM on Friday finally agreed to sit on the treasury benches in the Parliament. By doing this MQM has given Gilani’s non-majority government critically needed support. However, MQM said, for the time being, it's not going to rejoin the Federal Cabinet. This was announced by provincial minister and member of the Rabita Committee Raza Haroon at a joint news conference with the Prime Minister at the end of his (PM) first ever visit to Nine Zero. Gilani went to Nine Zero in Azizabad accompanied by Sindh Governor Dr Ishratul Ebad, Chief Minister Syed
RGST frozen until ice breaks KARACHI: Prime Minister Syed Yousuf Raza Gilani Friday said his government would defer a key tax reform in a move sure to anger the United States and the International Monetary Fund. "We have deferred (the reformed general sales tax)," Gilani said in Karachi on Friday after a meeting with officials from the Muttahida Qaumi Movement (MQM), its major coalition partner which just announced it would rejoin after defecting to the opposition on Jan. 2 "We will not go forward until consensus is evolved," Gilani said. -Reuters Qaim Ali Shah, and Interior prices which have been Minister Rehman Malik in the reversed after his meeting with afternoon and talked with leaders of the parliamentary Rabita Committee members parties on Thursday and also and Altaf Hussain in London MQM was present there. He over the telephone at length. said as far as MQM's reservaGilani said they have agreed tions on RGST are concerned, to work collectively to take the he has offered Altaf Hussain a country out of crises. He said briefing by his economic team he has requested Altaf Hussain and the decision has been to tell his party to rejoin the deferred until consensus. coalition for the sake of counThe Prime Minister said try and democracy. while in Nine Zero, he spoke to He said the MQM got Altaf Hussain over the annoyed over increase in POL See # 1 Page 11
Plan afoot to set up departmental stores, NA told
Industry to get new policy soon Imported sugar being supplied to USC ISLAMABAD: Minister for Industries and Production Mir Hazar Khan Bijarani Friday informed the National Assembly that a plan is afoot to set up departmental stores in all major cities of the country to provide maximum facilities to the masses. To another question, he said the draft of new industrial policy has been prepared and put
on the website of the ministry in order to seek more input from all the stakeholders. He said the new industrial policy would be announced in next two to three months. Mir Hazar said an export investment support fund worth Rs40 billion was set up to promote industrialisation, valueaddition, and See # 2 Page 11
Ultimatum yet hangs over govt head: ‘N’ LAHORE: According to media reports Central Information Secretary of Pakistan Muslim League-N, Ahsan Iqbal Friday said that even after MQM's return to treasury benches the ultimatum issued by his party to the government persists in all respects. Talking to a private news channel, Ahsan Iqbal said this development proved what Nawaz Sharif had said earlier. See # 3 Page 11
INVESTORS’ GUIDE
Gilani, Zardari talk for 90 minutes KARACHI: Earlier on Friday President Asif Ali Zardari and Prime Minister Syed Yousaf Raza Gilani agreed to accept all legitimate demands of MQM to ensure it returns to treasury benches in the Parliament. Prime Minister Syed Yousuf Raza Gilani called on President Asif Ali Zardari here at the Bilawal House. The current political situation was discussed during the meeting that lasted for 90 minutes. The President appreciated the efforts of the government and See # 8 Page 11
WATCH OUT FOR JANUARY 2011 ISSUE
2
Friday, January 7, 2011
Anti-competitiveness practices
CPP team raids PSAA office, seizes record Staff Reporter KARACHI: A team of the Competition Commission of Pakistan (CCP) Friday conducted search and inspection of the offices of the Pakistan Shipping Agents Association (PSAA) in Karachi to impound documentary proofs of the Association's alleged involvement in anti competitive decision making. CCP action followed reports of active role allegedly being played by PSAA in recommending/suggesting rates/tariffs to its member undertakings in prima facie violation of Section 4 of the Competition Act, 2010. Documentary evidence pro-
duced before the Commission in the form of letters and minutes of meetings prima facie raised suspicion as to the activities and role of PSAA with respect to ship agency services tariff/charges. The Commission observed that the rates/tariffs recommended by PSAA prima facie indicate/suggest to its member undertakings a target range of minimum and maximum prices they can charge to their customers. Although a recommended range of charges is issued as guideline, however, it needs to be verified that how association is operating in the matter and why even such recommendations are made
when free economic decisions are to be encouraged on part of its members. The suspected price fixing through suggested/targeted range is likely to distort competition as members tend to price within this range, rather than independently arriving at their prices. CCP requested PSAA to forward copies of letters, circulars issued in last two years to the member undertaking to notify the rates of various tariff/charges in respect of ship agency services, to which PSAA did not provide any satisfactory information and provided only recommended rates/tariff for September, 2008 and February, 2010.
PESHAWAR: Activists of Aman Tehrik and workers of PPP light-up candles in remembrance of assassinated former Punjab Governor Salman Taseer outside Railway Station.-APP
Report on DHA, Isb goes to NA TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:00 News 23:03 Awam Ki Awaz
SATURDAY Time Programmes 8:00 Chai Time (Rpt) 9:05 Smithsonian Documentry 10:05 Dilkash Pakistan 10:30 Sara jahan(Rpt) 11:15 Karobari Duniya(Rpt) 12:00 News 12:05 Siyasat Mana Hai (Rpt) 13:00 AM News 13:05 Islamabad Say (Rpt) 14:00 News 15:00 News 15:05 Doosra Pehlu (Rpt) 16:00 News 16:05 Filmi Samaa(rpt) 16:30 Red Carpet (Rpt) 17:00 News 17:05 Aap Ka Paisa (Rpt) 17:30 Pakistan This Week 18:00 News 18:05 Sara jahan(Rpt) 18:30 Dilkash Pakistan 19:00 News 19:30 Tijarti Dunia 20:00 News 20:05 Kamyab 21:00 News 21:05 Teesri nazar 22:00 News 22:05 Agenda 360 23:05 Music Scene 23:30 Uff Tv 0:00 News
ISLAMABAD: The report of the Standing Committee on bill to provide for the establishment of the Defence Housing Authority Islamabad was on Friday presented in the National Assembly.
Chairperson of the Standing Committee Dr. Azra Fazal Pechuho presented the report of the committee on bill to provide for the establishment of the Defence Housing Authority Islamabad.-APP
SECP fines three insurers Staff Correspondent ISLAMABAD: As part of its enforcement and regulatory function, the Insurance Division of the Securities and Exchange Commission of Pakistan (SECP) passed 3 orders, fining defaulting insurance companies in December, mainly on the grounds of noncompliance with the statutory deposit requirements. The department also recovered the penalty amounting to Rs421,000. It may be mentioned here that in order to
ensure market surveillance, the Insurance Division is in the process of formulating regulations on micro insurance and developing its legal framework for specialized micro insurance companies. In this regard a task force has been constituted comprising representatives from the SECP, SBP, IAP, PMN, NRSP, PMN, NGOs, microfinance banks and insurance companies. The first meeting of the task force was held on November 23, followed by its sub-group meeting held in early December last.
Closure of CNG stations creates problems I S L A M A B A D : Residents of the twin cities are in great trouble due to the closure of CNG stations for two days and in this regard students and employee's have to wait several hours to reach their distinction due to the non availability of public transport. Private vehicles owners were also in trouble due to the shortage of CNG gas and a commuter Rahat Kazmi said
that two-day closure of gas was intolerable. Another commuter Aqeel Anjum said that due to halt in regular supply of gas, public transport is not available on routes and taxi drivers getting benefit of it and charging from poor citizens. Citizens demanded of the concerned authorities to reschedule the closure of CNG stations plan so that people could get relief.-APP
Meeting reviews progress of MoUs with China ISLAMABAD: Minister of State and Chairman Board of Investment,Saleem Mandviwalla on Friday held a special meeting with Commercial Counselor of China to discuss the plan for pursuing 40 Memorandum of Understandings (MoUs) signed so far. Mandviwalla also informed the counselor about the responsibility assigned to him by President to produce results out of MoUs signed between Pakistan and China during the visits of President of Pakistan to China and Chinese Premier Wen Jiabao's visit to Pakistan. He said both leaders are concerned to mature the agreements on urgent basis and suggested that all the private and public organizations holding MoUs and agreements with Chinese companies would be called for a meeting to present the progress on all accords. It may be noted here that BOI inked MoUs of more than US$.10,300 million with Chinese companies during the Pak-China Business Summit 2010. A special committee, comprising BOI and Chinese officials started working on accomplishing these accords before the visit of Chinese President this year.-APP
US to help build hydel projects
ISLAMABAD: Acting US Envoy for Pakistan Frank J Ruggiero called on PML (N) Quaid Nawaz Sharif in Islamabad. Chief Minister Punjab Shahbaz Sharif, Opposition Leader in National Assembly Chaudhry Nisar Ali Khan and Senator Ishaq Dar are also present.-Online
LCCI demands gas for Punjab industry LAHORE: The Lahore Chamber of Commerce and Industry Friday appreciated the Federal government for withdrawing increase in the prices of petroleum products and termed it a bold step in the larger interests of the masses. In a statement issued here, LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar said that the withdrawal in prices of petroleum products would not only
give some relief to the inflation-hit masses but it would also benefit almost all sectors of the economy. Industry and the Agriculture both would be the beneficiary of this marvelous decision as the increase had caused considerable jump in transportation costs of industrial products and same was the case with Agriculture sector that is heavily dependent on diesel. The LCCI office-bearers, however, urged the Prime Minister to ensure imple-
mentation of his decision regarding supply of gas to the industry in Punjab. Despite clear cut instructions of the Prime Minister that no discrimination would be done with the industry in Punjab, the situation is still the same and the entire industrial sector was suffering unbearable losses and fast becoming uncompetitive even in the domestic market as the industry in other provinces is getting regular supply of gas, they added.-PR
POL product prices
FPCCI hails fuel price hike reversal
Staff Correspondent
Special Correspondent
ISLAMABAD: Frank Ruggiero, Acting US Special Representative for Afghanistan and Pakistan, signed two agreements to provide $66 million to finish the Gomal Zam and Satpara dam projects. These dams, which will provide over 35 megawatts of power to nearly 55,000 households in South Waziristan and Skardu, are examples of the United States Government's commitment to help meet Pakistan's energy needs. "Last year's devastating floods demonstrated the need for flood control infrastructure" said Ruggiero. "These two multipurpose dams will control flood waters, provide electricity, and store water for irrigation and household use for downstream villages." U.S. Agency for International Development (USAID) Mission Director Andrew Sisson, Water and Power Development Authority Chairman Shakil Durrani, and Ministry of Water and Power Secretary Javed Iqbal also signed the agreement.
LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Friday hailing the decision of the Prime Minister for immediate withdrawal of recent increase in petroleum products prices demanded forthwith restoration of power and gas supply to the industrial sector to save the econ-
omy from irreparable loss. President FPCCI,Senator Ghulam Ali said although it was a wise decision of the Prime Minister for reversing the increase in prices of petroleum products throughout the country but unscheduled gas and power load shedding, without taking FPCCI into confidence, had already harmed the industry and it had now become impossible to meet the
export targets by ensuring timely despatch of consignments to their destinations. He said power and gas load-shedding had already affected the industrial sector badly causing billion of rupees loss to the private sector. He said the world over, in case of acute shortage of gas and power, always industrial sector was given priority over domestic consumers.
JCR-VIS upgrades ABL AMC rating Staff Reporter KARACHI: JCR-VIS Credit Rating Company Limited has upgrade the Management Quality Rating of ABL Asset Management Company Limited (ABLAMC) to 'AM3+' ( AM Three Plus) from 'AM3' (AM Three) The rating action takes into account improvement in systems and controls and performance of the asset
management company since last review. Going forward, the bussiness plan of the company may facilitate it to futher strengthen its market position. Outlook on the rating has thus been revised from "Stable' to 'Positive'. ABL Amc is a wholly owned subsidiary of Allied Bank Limited and benefits from the bank's strong franchise and widespread branch network. After the launch of two new funds during 2010,
the AMC is now managing four open end funds, including two money markets funds, and income funds and a stock fund. Performance of the two older funds was strong with both funds being among the top performing funds in terms of returnd in FY10. Total AUMs of ABL AMC increased from Rs.7 b as at June 30, 2009 to Rs. 8.7b as at June 30, 2010 and further to Rs.12b as at November 30, 2010.
‘Govt to complete tenure’ KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that the Government of Pakistan Peoples Party has to face many problems during the last three years but it has over come these problems under the guidance of President Asif Ali Zardari because the Government is following political reconciliation policy and it has strengthened the institutions and democracy is going on in the country. This she said while talking to various delegations here in her office on Friday. She said it was the result of Pakistan Peoples Party and other democratic forces' struggle that media, judiciary and parliament were fully independent today. The Provincial Advisor said the present democratic government was taking all possible measures against extremists and making the country financially strong in order to provide maximum relief to the people.-Online
NIB Bank capital on the up KARACHI: In August 2010, NIB Bank Limited had shown its intention to increase its capital with a view to make the Bank stronger. To this end, the majority shareholder of NIB Bank, Bugis Investments, a wholly owned subsidiary of Fullerton Financial Holdings of Singapore, has injected its share of the proposed capital increase of Rs 6.4 billion as at 30th December 2010, also confirmed by the Bank’s auditors, KPMG Taseer, Hadi & Co.-PR
3 Saturday, January 8, 2011
Dollar up vs euro as US unemployment dips
Previous Day
Drop in jobless rate saves the day for the dollar NEW YORK: The dollar rose to its highest in nearly four months against the euro on Friday as a drop in the US unemployment rate helped offset initial disappointment over the weakerthan-expected December payrolls report. Sentiment on the dollar remained positive despite a smaller-than-forecast number of jobs created, and analysts expect gains to continue the next few weeks. Overall, the data reflected a US economy that was still on a stable growth track. The greenback initially gave up gains against the euro immediately following the jobs data but recovered to post fresh peaks of nearly four months. Traders said a large order to sell euros against sterling right after
the data pressured the euro/dollar pair as well. Data on Friday showed US non-farm p a y r o l l s increased 103,000, below economists' expectations for gains of 175,000 jobs, but unemployment dipped to 9.4 per cent, its lowest in more than 1-1/2 years. "You can't ignore the fact that, regardless of a disappointing payrolls outcome, US growth is still looking better than Europe and the euro sovereign stress is still there," said Richard Franulovich, senior currency strate-
gist, at Westpac in New York. The dollar was little changed against
a basket of major currencies to 80.769, rising as high as 81.087, its strongest level since early December. The index has gained over 2 per cent this week, benefiting from a slew of upbeat US data including a report that showed a record number of private sector jobs were created in December. In the run-up to Friday's employ-
Asian currencies
Peso down 0.4pc on dollar short covering Eyes on US payrolls; unlikely to boost Asia FX SEOUL: The Philippine peso and the Indian rupee fell against the dollar on Friday, leading Asian currencies lower, as caution ahead of key US job data spurred dollar short covering. The data is unlikely to boost Asian currencies much, although they are expected to stay firm this year on stronger economic fundamentals in the region and abundant liquidity, analysts and dealer said. "A figure in line with or above forecasts will lift the dollar and make investors
more reluctant to buy Asian currencies," said Jeong Myyoung, a currency strategist in Seoul. "If the figure disappoints markets, that will cause investors to shun riskier assets, prompting further dollar-short coverings," she added. The peso opened at 44.00 per dollar and weakened to as soft as 44.12 with market spooked by further dollar short covering interest. The peso is seen weakening to as soft as 44.20 unless the central bank steps
into the market, dealers said. But it found a strong support line at 44.30 per dollar. Bucking the softer regional tone, the Taiwan dollar rose over 2 per cent against the US dollar. "Foreign funds keep buying dollar, they expect positive news from the US nonfarm payrolls," said one trader at a local bank. The Taiwan dollar rose to as firm as T$29.220 on early trading, compared with its previous close of T$30.101. Reuters
Sterling extends gains vs euro, up against USD
Swiss franc gains vs euro
LONDON: Sterling extended gains against the euro on Friday, helped by fund selling of the single currency due to a renewed rise in concern over euro-zone sovereign debt risks. It also recovered ground against the dollar after US nonfarm payrolls disappointed on bullish market expectations, but traders said the knee-jerk reaction to the data had not changed
gested more downside bias for the pair even after a sharp selloff over the last three days which has delivered some of the highest daily trading activity for months. Trade-weighted sterling matched a two-week high of 80.8. "Nothing really changed after payrolls," said Geoffrey Yu, currency strategist at UBS in London. "Even though the
the broader trend. The euro fell 0.6 per cent to 83.54 pence, closing in on a onemonth low around 83.50 pence. Traders said the technical outlook remained negative after this week's break and close below the 200-day moving average, seen as resistance at 84.81 pence on Friday. "Sterling continues to have an upper hand against the euro," one London-based trader said. On the week, the euro was set to fall nearly 2.1 per cent against sterling, its biggest weekly drop since mid-November 2010. Order flow data from Thomson Reuters Matching sug-
unemployment rate fell, the participation rate is down. The dollar should remain moderately bid but it depends on what happens to the euro." Sterling rose 0.4 per cent to $1.5535 driven by fund demand. Trendline resistance stood at around $1.5660, said CMC Markets analyst Michael Hewson. On the downside, a sustained move below $1.5400 should open up the $1.5265 area, which remained the key longerterm target as this level was the 50 per cent retracement of the pound's rebound from its low in May 2010 to highs in November, he said. -Reuters
ZURICH: The Swiss franc tracked the dollar higher against the euro on Friday ahead of US jobs data, which is expected to show a strengthening US economic recovery even as debt concerns continue to trouble euro-zone investors. After losing a significant amount of ground against major currencies on Thursday, the euro drifted still lower against major currencies in the early part of Friday's session, all but giving up its gains from earlier in the week. A sell-off in peripheral eurozone government bonds before a flurry of supply next week and an EU proposal that could force those who lend to banks to bear big losses should they fail weighed on the single currency. "After strengthening at the beginning of the week, we think the euro will continue to decline in an environment of euro-zone weakness, with demand for the Swiss franc remaining high as a safe haven," said Sarasin currency strategist Ursina Kubli. "The dollar will also benefit from euro fears and could move higher alongside the Swiss franc," Kubli said. The franc was 0.1 per cent firmer against the euro compared to the New York close, trading at 1.2541 francs per euro at 0737 GMT. The franc was little changed against the dollar at 0.965 francs per dollar. -Reuters
Aussie struggles against USD, but gains on euro WELLINGTON/SYDNEY: The Australian and New Zealand currencies lost ground against a broadly firmer greenback on Friday, but advanced on the euro as worries about the eurozone's high levels of debt returned to haunt the single currency. The Aussie fell as low as $0.9919, reaching levels not seen since Dec. 21, and taking this week's losses to nearly 3 per cent. It last traded at $0.9932, down from $0.9944 late in New York. Widespread floods in the state of Queensland, which produces about two thirds of the world's coking coal, have served as an excuse for investors to take profit on a 6 per cent rally in the Aussie to a 28-year high in December. "We crossed a new territory for the US dollar," said Matthew Johnson, strategist at UBS. "For the first time in three years, strong US data will start meaning a strong US dollar ... The market mechanism has changed," he said. This means the Aussie could lose more ground against the dollar, should US payrolls show a big increase. UBS's Johnson said the Aussie could drop by as much as a cent or more to around $0.9800. The Aussie was on the brink of testing support at
$0.9918, a break of that could see a deeper retracement to the Dec. 16 trough around $0.9830. The Aussie, however, rose against the euro, which came under broad pressure on renewed worries about the euro-zone debt crisis ahead of a flurry of supply from peripheral euro-zone members next week. The euro last traded at A$1.3070, having fallen to a near one-week low of A$1.3040 overnight. The markets will be closely watching a raft of Australian data next week including retail sales and employment. The NZ dollar clawed off the session low at $0.7554 to $0.7577 in late trade. It too has shed nearly 3 per cent this week as traders took profit from recent hefty gains. Support for the kiwi was still seen around $0.7540, the low on Dec 29, then $0.7523, a 61.8 per cent retracement level while resistance sat around $0.7630. The Aussie slipped to NZ$1.3103, having earlier fallen to as low as NZ$1.3070 as real money and short-term speculative accounts bought the kiwi against the Aussie. -Reuters
Yuan declines, awaits fresh leads for direction But investors have scaled back forecasts for sharp yuan appreciation in the near term due to the PBOC's unclear position. Spot yuan closed at 6.6280 versus the dollar, down from Thursday's close of 6.6265. It has risen 2.99 per cent since its mid-June depegging. Before trade began, the Chinese central bank fixed the yuan's mid-point versus the dollar at 6.6341, weaker than Thursday's 6.6322. Dealers said the yuan's appreciation over the course of the year was inevitable as China wrestles with domestic concerns such as rising inflation and asset bubbles. Benchmark one-year nondeliverable dollar/yuan forwards were bid at 6.4610, down slightly from Thursday's close of 6.4670. Their implied yuan appreciation in a year's time rose slightly to 2.68 per cent from 2.58 per cent. -Reuters
Indian rupee off 3-wk lows; US data eyed MUMBAI: The Indian rupee retraced from three-week lows but ended weak on Friday as oil importers' dollar demand, losses in local shares and global dollar strength outweighed support from dollar inflows towards debt. All eyes are now on the US non-farm payroll data due at 1330 GMT for directional cues. The partially convertible rupee ended at 45.38/39 per dollar, after touching 45.48 -- its weakest since Dec. 20 -- and below its Thursday's close of 45.245/255. It moved in 45.3250-45.48 band intraday. Despite weak stocks, dollar sales from foreign institutional investors (FIIs) were marginal. "There has been some interest from FIIs into debt and ECB (external commercial borrowing)-related inflows which has prevented the rupee from weakening sharply," said Rohan Naik, head of forex trading at Standard Chartered Bank in Mumbai. Foreign funds have bought shares worth $201.88 million in the first four trading sessions this year. The rupee had gained 4.1 per cent in 2010 on record $29.3 billion foreign fund inflows.
Events
Actual
Forecast
Previous
CHF EUR EUR EUR EUR EUR CAD CAD USD
Unemployment Rate German Retail Sales m/m German Trade Balance Unemployment Rate Final GDP q/q German Industrial Production m/m Employment Change Unemployment Rate Non-Farm Employment Change
3.6% -2.4% 11.8B 10.1% 0.3% -0.7% 22.0K 7.6% 103K
3.6% 0.6% 14.5B 10.1% 0.4% -0.1% 19.1K 7.7% 159K
3.6% 0.1% 14.2B 10.1% 0.4% 3.0% 15.2K 7.6% 71K
Currencies Rate
ment data, some analysts were expecting job gains as high as 500,000. The actual data, however, prompted investors to cover their short positions on the euro that were built in anticipation of a huge jobs number. "The headline miss is pretty bad, but the drop in the unemployment rate is the one reason why the dollar has not collapsed completely," said Brian Dolan, chief currency strategist at Forex.com in Bedminster, New Jersey. "Overall, a very disappointing number that reinforces the idea that we're in for a long, slow jobless recovery. The euro's been in $1.30-$1.35 range for a while, and this number is not enough to break us out of that." -Reuters
SHANGHAI: The yuan finished down against the dollar on Friday after the People's Bank of China set a weaker mid-point, in the wake of a jump in the US dollar index in global markets. But the mere 19-pip fall in the PBOC's mid-point, or the level from which the yuan may rise or fall 0.5 per cent each day, lagged far behind a jump of 0.8 per cent in the dollar index on Thursday. Dealers said that may reflect the central bank's intention to keep the yuan in a narrow range. Dealers said the domestic market would await fresh leads for direction as the Chinese currency has already jumped around 3.5 per cent since it was depegged in June. The yuan may have more potential to appreciate as China continues to face political pressure and ahead of Chinese President Hu Jintao's visit to the United States from Jan. 18.
Source
Stanchart's Naik expects the rupee to maintain a weakening bias next week and even breach 45 on likely overall global dollar strength. "The US dollar is expected to continue to be on a strong footing. I think $1.2950 in euro is a very crucial level," Naik added. One-month offshore non-deliverable forward contracts were quoted at 45.67, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCXSX and the United Stock Exchange were at 45.55, 45.555 and 45.5575, with the total traded volume on the three exchanges at a moderate $6 billion. -Reuters
Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.2985 1.3019 0.9646 0.9689 1.5534 1.5531 0.9911 1.0001 0.9989 0.9992 107.9500 108.5300 0.8362 0.8427 1.2527 125.6200 129.2700 129.2700 86.2900 86.8200 0.9731 0.9763 1372.9000 1374.1500 29.2200 29.1600
Bid 1.2986 0.9643 1.5530 0.9907 0.9986 107.9100 0.8361 1.2522 129.2000 86.2100 0.9724 1372.3500 29.1400
Low 1.2936 0.9611 1.5407 0.9900 0.9911 107.8000 0.8357 1.2485 128.5600 86.0700 0.9627 1353.4500 28.3400
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 07/01/2011 A USD GBP CAD EUR JPY O/N 0.24125 0.55813 0.92667 0.34125 SN 0.09375 1WK 0.25438 0.57063 0.99667 0.49000 0.10288 2WK 0.25656 0.57438 1.04083 0.55125 0.10938 1MO 0.26125 0.58875 1.09667 0.69250 0.12063 2MO 0.28250 0.64625 1.15083 0.80625 0.15000 3MO 0.30313 0.76063 1.23833 0.93188 0.18725 4MO 0.34625 0.84250 1.30833 0.99688 0.24313 5MO 0.40263 0.94875 1.37167 1.08250 0.30000 6MO 0.45731 1.05438 1.44667 1.17563 0.34750 7MO 0.51313 1.13163 1.51333 1.22563 0.39750 8MO 0.56813 1.21563 1.58750 1.28188 0.44188 9MO 0.61906 1.29750 1.65667 1.32938 0.48750 10MO 0.67094 1.37688 1.73417 1.37938 0.51438 11MO 0.72594 1.44563 1.82000 1.42313 0.54000 12MO 0.78550 1.51250 1.90333 1.46500 0.56750
Major Central Banks Overview Central Bank Bank of England European Central Bank Swiss National Bank The Reserve Bank of Australia Bank of Canada Federal Reserve Bank of Japan
Next Meeting
Last Change
January 13, 2011 January 13, 2011 March 17, 2011 February 1, 2011 n/a n/a n/a
March 5, 2009 May 7, 2009 March 12, 2009 November 2, 2010 September 8, 2010 December 16, 2008 December 19, 2008
Current Interest Rate 0.50% 1% 0.25% 4.75% 1% 0.25% 0.10%
Division of National Bank of Pakistan (NBP) KARACHI, January 07,2011 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
85.90 132.75 111.70 86.16 89.02 85.31 12.52 1.03 14.41 66.27 14.99 22.91 11.05 12.96 304.42 27.99 65.14 23.59 23.39 0.08 2.84
85.70 132.44 111.44 85.96 88.81 85.11 12.49 1.03 14.37 66.12 14.96 22.85 11.02 12.93 303.71 27.93 64.99 23.54 23.33 0.08 2.83
85.51 132.13 111.19 85.74 88.57 84.89 12.46 1.03 14.37 65.94 14.92 22.79 10.99 12.90 302.91 27.86 64.82 23.48 23.27 0.08 2.82
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 07, 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 12.75 12.80 12.85 13.00 13.20 13.30 13.33 13.50 13.68 13.95 14.18 14.18 14.20 14.20 14.22 14.22 14.22 14.25 14.55 14.70 14.80
BMA 12.70 12.80 12.85 12.95 13.23 13.35 13.50 13.54 13.72 14.00 14.23 14.27 14.23 14.35 14.37 14.15 14.15 14.23 14.60 14.75 14.85
ELXIR 12.70 12.85 12.90 13.13 13.25 13.37 13.45 13.55 13.72 14.00 14.23 14.24 14.25 14.32 14.36 14.18 14.14 14.30 14.55 14.75 15.00
GSL 12.80 12.80 12.85 13.10 13.26 13.40 13.50 13.70 13.80 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.25 14.65 14.90 15.10
ICSL 12.90 12.90 12.95 13.05 13.23 13.25 13.30 13.45 13.65 13.95 14.25 14.22 14.23 14.30 14.35 14.15 14.20 14.25 14.55 14.75 15.00
JSCM AvgRate 12.96 12.80 12.80 12.83 12.90 12.88 13.08 13.05 13.24 13.24 13.33 13.33 13.41 13.42 13.55 13.55 13.71 13.71 14.00 13.98 14.28 14.23 14.25 14.23 14.28 14.24 14.33 14.30 14.38 14.33 14.25 14.21 14.19 14.18 14.29 14.26 14.65 14.59 14.78 14.77 14.98 14.96
Currencies Correlation EUR/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.70 0.25 0.06 0.76 0.58 0.27
-0.28 0.16 0.81 0.32 0.33 0.52
0.65 0.21 0.84 0.91 0.73 0.48
0.04 0.18 0.85 0.69 0.62 0.73
0.62 0.56 0.79 0.82 0.77 0.81
0.86 0.64 0.43 0.79 0.51 0.31
USD/CAD USD/CHF -0.39 -0.62 0.18 -0.65 -0.31 -0.16
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)07/01/2011 1WEEK BID ABPL
ASK
2 WEEK BID
ASK
1 MONTH BID
ASK
3 MONTH BID
ASK
6 MONTH BID
ASK
9 MONTH BID
ASK
1YEAR BID
ASK
2YEARS BID
ASK
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN 12.40
12.90
12.50
13.00
12.75
13.25
13.20
13.45
13.45
13.70
13.55
14.05
13.60
14.15
13.70
14.20
JSBL
12.60
13.10
12.75
13.25
12.85
13.35
13.25
13.50
13.45
13.70
13.50
14.00
13.70
14.20
13.80
14.30
ASPK 12.50
13.00
12.60
13.10
12.75
13.25
13.20
13.45
13.40
13.65
13.50
14.00
13.65
14.15
13.75
14.25
CIPK
12.60
13.10
12.70
13.20
12.75
13.25
13.25
13.50
13.45
13.70
13.55
14.05
13.70
14.20
13.90
14.40
DBPK 12.50
13.00
12.60
13.10
12.70
13.20
13.00
13.25
13.15
13.40
13.30
13.80
13.50
14.00
13.60
14.10
FBPK 12.45
12.95
12.65
13.15
12.75
13.25
13.25
13.50
13.45
13.70
13.55
14.05
13.75
14.25
13.90
14.40
FLAH 12.65
13.15
12.70
13.20
12.80
13.30
13.20
13.45
13.40
13.65
13.50
14.00
13.65
14.15
13.75
14.25
HBPK 12.50
13.00
12.70
13.20
12.80
13.30
13.20
13.45
13.40
13.65
13.50
14.00
13.65
14.15
13.75
14.25
HKBP 12.60
13.10
12.70
13.20
12.80
13.30
13.25
13.50
13.40
13.65
13.50
14.00
13.60
14.10
13.70
14.20
NIPK
12.50
13.00
12.75
13.25
13.20
13.70
13.50
13.75
13.60
13.85
13.70
14.20
13.75
14.25
13.80
14.30
HMBP 12.60
13.10
12.75
13.25
12.85
13.35
13.25
13.50
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
SAMB 12.50
13.00
12.70
13.20
12.85
13.35
13.30
13.55
13.50
13.75
13.50
14.00
13.65
14.15
13.75
14.25
MCBK 12.40
12.90
12.50
13.00
12.60
13.10
13.15
13.40
13.30
13.55
13.40
13.90
13.50
14.00
13.75
14.25
NBPK 12.40
12.90
12.60
13.10
12.70
13.20
13.20
13.45
13.30
13.55
13.50
14.00
13.65
14.15
13.75
14.25
SCPK 12.45
12.95
12.60
13.10
12.70
13.20
13.10
13.35
13.25
13.50
13.45
13.95
13.50
14.00
13.70
14.20
UBPL 12.40
12.90
12.40
12.90
12.65
13.15
13.20
13.45
13.40
13.65
13.50
14.00
13.70
14.20
13.70
14.20
AVE
13.00
12.66
13.16
12.77
13.27
13.22
13.47
13.40
13.65
13.51
14.01
13.65
14.15
13.74
14.24
12.50
-0.79 -0.26 -0.07 -0.70 -0.56 -0.47
4 Saturday, January 8, 2011
The Metamorphosis
The Financial Daily International Vol 4, Issue 147
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
The wait & see policy Over the last few days political scenario has changed fast plunging some into despair and others into new spirits. However, one thing seems most remote toppling of Gilani regime. The prime minister himself is going from one leader to another and came down all the way to Karachi to convince MQM to continue its support from the present regime. While many of the opponents including PML-N are now terming MQM exit and reentry a much anticipated move, the US administration has expressed its dislike on withdrawal of increase in POL prices. Many of the Pakistani political pundits are of the view that withdrawal of increase is important at least for the time being to save the country from any big unrest. The country is already experiencing intermittent closure of business activities on the strike calls of religious parties. Some of the experts say a few politicians are trying to push the others to wall, which could have serious repercussions on the country. Recent war of words among PPP, MQM and PML-N has left a bad taste in the moth as general public never expected that political activists can go to such an extent. However, masses already the victim of eroding purchasing power fear that the confrontation could only plunge the economy deeper into the problems. Pakistan can't afford any disruption in economic activities. Its relationship with the IMF seems a little strangulated on the issue of enhancing revenue collection. At this juncture Pakistan has to prove that key economic indicators are improving. Foreign exchange is still flowing as remittances and providing much needed support to improve current account position registering surplus for the last three months. Lately, Pakistan's foreign exchange reserves have touched US$17.2 billion level mainly because of substantial increase is remittances and portfolio funds. Some of the punters say that despite many odds Pakistan's stock market is likely to continue to get more funds. However, no ease in electricity and gas load shedding seems possible in the near-term or until inter corporate debt issue is resolved. There are growing apprehensions that this year Pakistan may not succeed in achieving US$22 billion export target. However, the real concern is increasing oil import bill, which may prove the biggest spoiler. Over the next few months dependence on thermal power plants is likely to remain high and motor gasoline and diesel consumption to far exceed the expected consumption. Increase in quantum of POL imports along with rising trend in crude oil prices is expected to push oil import bill to new highs this fiscal. The silver lining is increase in unit price realization of textiles and clothing, thanks to hike in cotton prices globally.
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.
A
nti-US Shi'ite cleric Moqtada al-Sadr's security detail has a disciplined quality far removed from his old Mehdi Army militia, hinting at his evolution toward the mainstream that could help stabilize Iraq. Sadr, who led two uprisings against the US military and demands its withdrawal, seems eager to shed the image of a firebrand and appear a statesman as his movement assumes a new, powerful role in Baghdad's coalition government, analysts say. Bearded men in black shirts and grey suits with pistols strapped to their belts, and others dressed like professional mercenaries, have knitted a tight circle around him since his return Thursday after years of voluntary exile in Iran. Their sophistication is a far cry from the AK-47-wielding young Shi'ite fighters who made up Sadr's Mehdi Army, which was behind much of the sectarian violence unleashed after the 2003 US-led invasion of Iraq and battled US troops. "When Sadr was an untamed rabblerouser, he lived in Najaf with unsophisticated, informal networks protecting him," said Toby Dodge, an Iraq expert at Queen Mary College, University of London. "The fact that he's (now) got this highly visible,
highly trained and disciplined security network is both an indication of his maturity and growing sophistication." Sadr's movement has shifted to embracing the political process, winning 39 seats in Iraq's parliament and seven ministries in the new government, while his militia, although still regarded with suspicion, has said it has put down arms. Since his homecoming to Najaf, Sadr has hunkered down in his family house, making only brief visits to the
“
with an old arrest warrant hovering over his head for the murder of another Shi'ite cleric. Sadr was expected to address his followers Saturday. In the meantime, one of the most visible aspects of his presence is the bodyguards swarming through his neighborhood. "We are taking into consideration that Sayyed Moqtada is a target for terrorist groups or parties or Americans. We have put in place a very detailed,
Sadr's movement has shifted to embracing the political process, winning 39 seats in Iraq's parliament and seven ministries in the new government
Imam Ali shrine, one of Shi'ite Islam's holiest sites, and his father's grave. HOPE FOR STABILITY His return has set Iraq aflutter, wondering whether he will help solidify its fragile stability or cause a descent back into broader sectarian chaos. But many in both the Sunni and Shi'ite Muslim camps look to him to be a force for stability. The scion of a revered clerical family fled Iraq more than three years ago,
tight security plan," one of Sadr's bodyguards, who declined to be named, told Reuters. "We have many guards, more than you can imagine." Around Sadr's family house in Najaf, four security zones have been set up. Guards wearing long-sleeved blue shirts, beige pants and baseball caps man the outer perimeter, while the inner circles are monitored by men in grey suits. A few of the bodyguards
wear sunglasses. The sophistication of Sadr's security has raised questions about where they were trained, especially given the time that Sadr spent under the patronage of neighboring Shi'ite Iran. "We are all sure that his bodyguards received training in Iran. I noticed that when I saw his convoy. They work professionally and don't allow any vehicle to come near them," said Muhammad Massoud, 38, a Najaf taxi driver. The support of the Sadrists, thought to have been brokered at least in part by Iran, was crucial in securing a second term for Prime Minister Nuri alMaliki and ending a 9-month deadlock over the formation of a government in Iraq. However, Sadr's bodyguard said the security teams had received high-level training in Iraq. Dodge said all the signs were that Sadr wanted to project a more mature image, away from his more militant past. "It's sending a clear signal (that), 'I'm a proper politician now, I'm not a man of the street. I am organized, I am as vulnerable and as protected as any other Green Zone politician'," Dodge said, referring to Baghdad's heavily fortified area of government offices and embassies.-Reuters
To talk or not to talk on nukes The European Union has turned down an offer from Iran to tour its nuclear facilities, EU foreign affairs chief Catherine Ashton said on Friday, but remains optimistic about talks with Tehran later this month. Iran has sent letters to a number of ambassadors to the International Atomic Energy Agency in Vienna, inviting them to visit Natanz uranium enrichment plant and the Arak heavy water complex during the coming weeks.s Diplomats from Britain, France, Germany and the United States were not invited. But Hungary, which holds the rotating presidency of the European Union until July, was invited, leaving the EU in a quandary over what to do. "What I'll be saying is the role of the inspections of nuclear sites is for the IAEA and I do hope Iran will ensure that the IAEA is able to go and continue and fulfill its work," Ashton told Reuters after talks with Hungarian Foreign Minister Janos Martonyi, saying the invitation would be declined. While the United States and the three EU powers most involved in applying pressure
on Iran to suspend its uranium described Iran's invitation as "We have invited the ambasenrichment were snubbed by an attempt to split the six world sadors of the European Union Tehran, Russia and China, powers and weaken punitive and Non-Aligned Movement which are also involved in spo- sanctions against Tehran over (developing countries) entities radic nuclear talks with Iran, its secretive activity. ... to visit Iran's nuclear faciliwere invited. Russia and China have tend- ties so that the lies propagated Ashton said she had consult- ed to take a softer line on Iran. by some non-benevolent couned with Russia and China Both have yet to respond pub- tries regarding Iran's nuclear before deciding that the invita- licly to Tehran's invitation. activities are shown," Salehi tion should be turned down. Western diplomats had said told the ISNA news agency. "I obviously coordinated on Wednesday that Russia and Israeli intelligence assesswith the other members of the China were being actively dis- ments released on Friday said E3+3 (six powers) who were couraged from going on the Israel believes Iran, its archinvited. f o e , M y While the United States and the three EU w i l l view is not be t h a t powers most involved in applying pressure able to though prothis is on Iran to suspend its uranium enrichment d u c e not an a n were snubbed by Tehran, Russia and invitaatom t i o n China, which are also involved in sporadic b o m b that I'm before nuclear talks with Iran, were invited taking 2015. a negaThat tive view of, it's not our job, tour as this could erode the extended timeline would allay and looking at the sites and united front of the five perma- fears of pre-emptive military establishing what they are nent U.N. Security Council strikes on Iran and provide requires expertise," Ashton members and Germany on more time to work out a diplosaid, referring to IAEA inspec- Iran's nuclear dossier. matic solution. tors. GOODWILL GESTURE Ashton did not say whether The West suspects Iran's In an interview published she regarded Iran's invitation nuclear program is directed at before Ashton's comments, as a gambit to divide the six developing bombs. Tehran Iran's acting foreign minister, powers but said it would not says it is for peaceful energy Ali Akbar Salehi, said the invi- hinder nuclear talks she is only. tation was meant as a "good- shepherding with the Islamic Western diplomats have will gesture." Republic.
"It is not a roadblock at all. We have the dates for the (next) talks, we begin on the evening of January 20 and have two days, or at least one and a half days, which is extremely positive." The talks are scheduled to take place in Istanbul and will be attended by representatives of the six powers, she said. "I'm looking forward to the talks with Iran, that's my job. The Iranians have been helpful in supplying the dates and making that work... We're working now on what we should do in terms of substance." Other invitees for the tour included Egypt, Cuba, Venezuela, Brazil, Turkey, Algeria and the Arab League, diplomats said. Cuba and Venezuela are allies of Iran, while Turkey and Brazil have tried to mediate in Iran's standoff with big powers. Australia, Canada and Japan, all allies of Western powers, were not invited. Iran's relations with the IAEA director, who is Japanese, have worsened since the leak of a US diplomatic cable saying he shared the US position on key Iran issues.-Reuters
It’s never too late to cut defence budget T
he United States plans to cut $78 billion in defense spending over five years, including a reduction of up to 47,000 troops, in a politically contentious move that would trim the government's growing budget deficit. The proposed cuts, unveiled at a somber Pentagon briefing on Thursday, follow increased White House and congressional scrutiny of military spending, which has doubled in real terms since the September 11, 2001, attacks. They are in addition to a $100 billion cost-savings drive that Defense Secretary Robert Gates kicked off last year to eliminate waste, cut poorly performing weapons programs and redirect the money to other priorities. Congress ultimately controls the Defense Department's budget, and lawmakers often block administration efforts to cut military spending that provides jobs in their home districts. But Gates said the military had to play its part in getting US finances in order. "As the biggest part of the discretionary federal budget, the Pentagon cannot presume to exempt itself from the scrutiny and pressure faced by the rest of our government," Gates said. The annual budget request for the Pentagon will be submitted to Congress as part of the overall federal budget around February 14. Industry sources and analysts say the Obama administration will ask for $554 billion in military spending in fiscal 2012, not counting overseas fighting, $12 billion less than it initially intended. Shares of major defense contractors
rose. Lockheed Martin Corp and General Dynamics Corp have programs that would be hit by the reshuffle but were spared from deeper cuts that some investors feared. Gates, in a half-hour address, said the Pentagon would cope with the belttightening by freezing civilian pay,
“
government spending. "I'm not happy," House Armed Services Committee Chairman Howard McKeon told reporters. "This is a dramatic shift for a nation at war and a dangerous signal from the Commander in Chief." TROUBLED PROGRAMS
Congress ultimately controls the Defense Department's budget, and lawmakers often block administration efforts to cut military spending that provides jobs in their home districts
changing economic assumptions and reducing troops starting in 2015, among other items. That will allow defense spending to keep growing modestly through 2014 before leveling off in 2015 and 2016, Gates said. He said calls from some in Congress for deeper cuts would be "risky at best and potentially calamitous," citing global tensions that require a strong, modern US military. Mitch McConnell, the top ranking Republican in the Senate, said on Thursday he believed no US government department was off-limits from belt-tightening. Other Republicans offered a swift rebuke of the plans, in a sign that the proposed cuts may not be realized despite growing pressure to rein in US
McKeon and other critics took issue with Gates' plans to cut up to 47,000 troops from the Army and Marines starting in 2015, which would represent the first cuts for those services since before the September 11 attacks. Analysts said the announcement was politically dicey for President Barack Obama, with US troops still at war in Iraq and Afghanistan. Earlier on Thursday, the Pentagon announced a new deployment of more Marines to Afghanistan. "The land force end-strength cuts are just shocking," said Thomas Donnelly, at the American Enterprise Institute, a conservative think tank. But Gates said the reductions would take place four years after US troops are set to leave Iraq, and that 2015 was also the year US war planners aim to
hand over responsibility for Afghan security to local forces. "The numbers that we're talking about are relatively small," Gates said. Gates announced cuts or cancellations of troubled weapons programs, including a $13 billion Marine Corps landing craft, designed by General Dynamics. The Arca index of defense stocks closed up 0.8 per cent, a sign of relief that financial fallout from the Pentagon's spending overhaul was not worse than what had already been speculated. "The bear argument about significant cuts has been taken off the table," said Peter Arment, an analyst with Gleacher & Co. The plan also calls for cancellation of a ground-launched missile built by Raytheon Co, and includes the second overhaul in a year of the Pentagon's largest weapons program: Lockheed Martin's F-35 Joint Strike Fighter. The Lockheed restructuring will cost the company 124 planes over the five years. "Gates has announced the continued dismantling of the greatest military the world has ever known," said J. Randy Forbes, a Republican lawmaker. But some of the Pentagon's cost-savings will be reinvested in similar bigticket programs, including a new longrange nuclear bomber, more ships for the Navy and beefed up missile defense capabilities. Boeing will win a potential $2 billion-plus order for 41 more F/A18 fighters.-Reuters
5
Saturday, January 8, 2011
South East Asian stocks
European shares fall on euro-zone debt worries KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,323.47 12,389.04 65.57 0.53 151.76
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,763.99 3,783.95 19.96 0.53 8.50
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,132.96 3,155.91 22.95 0.73 0.28
Major Gainers
Symbol RMPL NESTLE SIEM ULEVER UPFL
Close
Change
2,090.30 2,471.66 1,234.90 4,353.80 1,110.45
58.29 31.66 24.90 11.80 9.45
Major Losers
Symbol
Close
Change
WYETH 1,050.00 COLG 935.80 IDYM 254.06 PECO 216.60 PSEL 159.60
-46 -27.8 -13.37 -11.4 -8.39
Top 5 Volume Leaders
Symbol
Close Vol (mn)
FFBL LOTPTA NIB DGKC PTC
38.44 14.73 3.17 30.48 19.50
19.24 13.74 12.71 8.87 5.74
Active Issues Plus Minus Unchanged
198 167 23
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
Indonesia tumbles on foreigners’ selling
MQM’s return to govt boosts KSE sentiments Nawaz Ali KARACHI: Improving political situation as government reverses recent increase in POL prices and buying on hopes of better corporate results allowed the bulls to extend their stay at the Karachi Stock Exchange which ended higher on Friday. The benchmark KSE-100 index closed 65 points up at a level of 12,389 points while KSE all-share index gained 41 points and KSE-30 index rose by 72 points to close at 8,592 and 11,961 points respectively. "Positive activity witnessed
as political uncertainty ease after Government reverse fuel prices hike as a popular move", said Ahsan Mehanti, Director Arif Habib Investments. Rising foreign exchange reserves to record US$17.2 billion, institutional and foreign interest in blue chip oil and gas, fertilizer scrips continued on expectation of record earning announcements, he added. Market started the day with a gain of 30 points and mostly remained in the positive zone during the both sessions as investors rejoiced the decision of the government to reverse the
Nikkei ekes out new 8-mth closing high TOKYO: Japan's Nikkei average edged up to a fresh eightmonth closing peak on Friday as investors stayed cautious ahead of key US jobs data, while a drop in commodity prices was offset by a strong performance by Chinese equities. The Nikkei was trapped in a tight range, moving in and out of positive territory throughout the day after the previous day's drop in Wall Street stocks made investors nervous before December's US employment report later on Friday. Sentiment in Tokyo, however, was supported by gains on the Shanghai market, as heavy lending by banks at the start of the year has flooded the Chinese stock market with cash while investors look forward to better corporate earnings for 2010 than previously expected. "The mood on the Nikkei turned mildly positive in the afternoon lifted by the Shanghai market, which started on a very strong note," said Takashi Ohba, a senior strategist at Okasan Securities. The benchmark Nikkei ended the day up 0.1 per cent or 11.28 points at 10,541.04. Immediate resistance now looms at its May 14 peak of 10,551.69. The broader Topix index gained 0.2 per cent to 926.42. Trading volume was high, with around 2.3 billion shares changing hands on the Tokyo Stock Exchange's first section, well above last week's average
of around 1.3 billion. With rising expectations for the world's largest economy to recover, investors aggressively added lagging Tokyo equities with high exposure to the U.S. market and low price-to-book ratios, such as automakers, investors said. Toyota Motor Co gained 2.2 per cent, while Nissan Motor Co picked up 4.4 per cent. Foreign investors were net buyers of Japanese stocks in the week to Jan. 1 for the ninth straight week, with net purchases totaling 23.5 billion yen ($282.2 million), the Finance Ministry said on Friday. Analysts say such buying may continue through the January-March quarter as expectations for decent results from U.S. and Japanese firms will likely provide momentum for further gains. "Nothing has changed market expectations that stocks will rise further," said Masatoshi Sato, a senior strategist at Mizuho Investors Securities Investors are eyeing longterm resistance, which could be tested if the U.S. jobs data is better than expected, at 10,638, an intraday level hit on May 13 when the fiscal crisis in Greece rocked markets across the world. Investors expect non-farm US payrolls for December to show an overall gain of 175,000, with the unemployment rate falling to 9.7 per cent from 9.8 per cent. Reuters
increase in petroleum prices which was one of the major demands by the opposition parties. Therefore this also helped in easing political tension while the visit of Prime Minister Yusuf Raza Gilani to MQM headquarters too supported the market. It should be noted that following some strong criticism by the political parties, Prime Minister reverted the recent increase in POL prices on Thursday. However investors booked profits at higher levels which sent the index into the red zone for awhile. But, continued buy-
ing by the local and foreign institutional investors in oil and gas and fertilizer sectors on expectations of better than expected corporate result announcements kept on supporting the market throughout the day and it closed the week on a greener note. As per the NCCPL data, foreign investors did a net buying of $3.68 million on Friday. On the local side, companies did a net buying of $4.28 million while mutual funds did a net selling of $6.77 million. Index during the day touched a low and a high of 12,275
BANGALORE: Indian shares ended 2.4 per cent lower on Friday, notching up a loss for the first week of the year, on deepening concerns the central bank might raise interest rates soon to rein in galloping inflation. Interest rate sensitive sectors such as autos and real estate fell sharply while metals too plummeted tracking a fall in global base metal prices. The main BSE sensex, which climbed over 17 per cent in 2010 propped by record foreign fund inflows of $29.3 billion, on Friday shed 4 per cent for the week, snapping a threeweek rise. "The market is down because there is a fear interest rates will be raised soon," said Neeraj Dewan, director of Quantum Securities. "There is not too much of a downside from here, the market is very close to finding a support." Worries about aggressive rate increases by the central bank heightened after the food price index rose 18.32 per cent in the 12 months to Dec. 25, its highest in more than a year. The Reserve Bank of India is scheduled to review policy on Jan. 25, and a Reuters poll on Wednesday forecast at least a 25 basis point increase in key rates. The 30-share BSE index fell 2.4 per cent on Friday, or 492.9
planned 20 billion yuan fundraising plan, which sources say will be announced later on Friday. Energy stocks such as CNOOC also fell as the price of oil tumbled. CNOOC ended the session down 2.44 percent to record its weakest close this week. Restricting gains in Hong Kong was the upper Bollinger band at 23,876, with stocks having hovered around the level and unable to break past the upper band in the past two months. SHANGHAI RISES The Shanghai Composite Index ended at 2,838.8 points but was off 2,868 -- its highest level in the new year, with shaky sentiment keeping the index from decisively breaking through the crucial 250-day moving average now at 2,838. The index gained 1.1 per cent for the week as Chinese banks are rushing into their customary early-year lending blast under China's loan quota system -- a factor that may trigger official tightening steps and restrain the stock market if it rises too quickly, traders said. Rumours of tightening have been somewhat common in China and
points (-ve 47) and 12,429 (+ve 105) respectively. Apart from above mentioned factors, hopes of early launch of much awaited leverage product kept the investor sentiments bullish. Investor participation witnessed some improvement as 151.7 million shares traded during the day which was 7.5 million shares more as compared to a turnover of 144.2 million shares a day earlier. Out of total 388 active issues; 198 advanced and 167 declined while 23 issues remained unchanged.
points, to 19,691.81 points, with all its components in the red. The auto index was down 3.3 percent with Tata Motors shedding 5.5 percent and Mahindra & Mahindra off 4.1 per cent. The realty index shed 1.8 per cent with the country's top listed realtor DLF losing 3.1 per cent. Metal counters lost their sheen tracking lower global prices with Hindalco slipping 7 per cent and Tata Steel, the world's seventh-largest steel maker, losing 3.4 per cent. The sector index ended over 4 percent down. Export-led outsourcers Tata Consultancy Services and Infosys Technologies fell 2.8 per cent and 3.2 per cent respectively after hitting record highs earlier on hopes of a strong growth outlook in 2011. Infosys kicks off the results season with its quarterly numbers on Jan. 13. "People are waiting to see the results before more action," said Vaibhav Sanghavi, director of Ambit Capital, referring to quarterly earnings that begin rolling out from next week. "Meanwhile, inflation has been bothering and we can see banks under pressure." The banking sector, which led the losses early in the session, saw some buying towards the latter half of the session and ended 1.4 per cent down. Reuters
ANNOUNCEMENTS Company Colony Sugar Mills
Hong Kong stocks snap 7-day winning streak HONG KONG/SHANGHAI: Hong Kong stocks snapped a seven-session winning streak on Friday, losing ground as Chinese lenders such as Agricultural Bank of China Ltd fell on further tightening worries. The benchmark Hang Seng Index closed down 0.42 per cent at 23,686.63. The China Enterprises Index of top Hong Kong-listed mainland companies fell 0.44 per cent to 12,925.71. Shanghai's key stock index rose 0.5 per cent on Friday but was off an intraday high, with renewed interest in banking stocks and a flood of liquidity in the market offsetting talk of another imminent official tightening step, traders said. "Upside on the Chinese banks is limited, because these are usually very open to policy changes," said Patrick Yiu, director at CASH Asset Management in Hong Kong. AgBank's Hong Kong-listed shares fell 1.72 per cent, while bigger rival Industrial and Commercial Bank of China slipped 0.68 per cent. Further weighing on banking shares was China Minsheng's
Wall St flat after jobs data
Indian shares post weekly loss
FTSE-100 down 0.6 pc LONDON: Britain's top share index closed lower on Friday, led down by banks and miners, with investor sentiment dampened by disappointing US employment data. The FTSE 100 index ended down 35.18 points, or 0.6 per cent, at 5,984.33, though it notched a 1.4 percent gain in the course of the first, shortened trading week of 2011, having advanced 6.7 per cent in December. The US economy created 103,000 jobs in December, the Labor Department said -- below a forecast of 175,000 -- which analysts said could hamper the FTSE's near-term progress. Michael Hewson, market analyst at CMC Markets, envisaged the UK blue-chip index slipping back towards 5,900 as a result. "We could see a pullback for equities in the short term. What I don't think we'll see is equities tumbling," he said. "I just think it makes the Fed's QE programme more than likely to go the full course, and that should underpin equity markets as such, but it could make progress higher a little bit more long-winded." The US jobs data is "not massively negative but I think if it had been better than expected, we'd have had an excuse to go even higher next week," David Jones, chief market strategist at IG Index, said. "I think it's injected another tone of caution into markets." Risk-sensitive banks took the most points off the blue-chip index, with analysts also pointing to ongoing concerns over euro zone sovereign debt. Reuters
US stocks late-morning
some global markets ahead of the weekend. The People's Bank of China has raised interest rates twice and bank reserve ratios for all banks three times since mid-October to counter inflation, which reached a 28-month high of 5.1 per cent in November. Traders said the PBOC has the potential to raise bank reserve ratios again this month due to affluent liquidity in the money market but were unlikely to raise interest rates. "The day's rise was completely propelled by the strength in banking stocks, which have a heavy weight on the index," said Chen Shaodan, analyst at China Development Bank Securities in Beijing. "But a monetary tightening environment underlines a lack of momentum for the market to rise in a sustained way, pushing the index off highs late in the day." Banks, on the other hand, were the biggest upward driver for the index amid expectations that strong 2010 results will push their valuations to new lows. Shanghai Pudong Development Bank Co, the top index mover as a single stock, jumped 4.4 percent. Reuters
Period Yearly
Div/Bon/Right PAT (Rs in mn) 118.05
EPS(Rs) 1.19
NEW YORK: US stocks were little changed on Friday as investors treaded lightly after a mixed US employment report that fell short of increased expectations of recovery in the labor market. The US economy created 103,000 jobs in December, the Labor Department said, below the forecast of 175,000. But October and November were revised upward, and December's unemployment rate fell to 9.4 per cent, the lowest since May 2009. "It's probably not as good a number as the bulls wanted to see, but by no means is it a bad number," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco. He said the market's recent upward trend should continue."People will continue to look at the economy as something that is improving and that will continue to add buoyancy to equity valuations," Massocca said. The Labor Department revisions showed 70,000 more jobs added than previously reported in October and November. Oilrelated shares led gains, with the S&P energy sector up 0.5 per cent as crude oil rose 0.8 per cent to $89.07 per barrel. For the jobs report, economists had revised their expectations for non-farm payrolls higher after Wednesday's surprisingly strong ADP privatesector employment figures, which were triple forecasts. "If we hadn't had that ADP number, this would have been seen more positively," said Massocca. The Dow Jones industrial average dropped 4.24 points, or 0.04 per cent, to 11,693.07. The Standard & Poor's 500 Index slipped 1.19 points, or 0.09 per cent, to 1,272.66. The Nasdaq Composite Index was off 2.25 points, or 0.08 percent, to 2,707.64. The S&P 500 has posted gains for the day on each of the last four monthly payrolls reports, according to a data analysis by New York-based Instinet. Only one of the four gains was more than one per cent, while the other three were less than 0.65 per cent. Reuters
6
Saturday, January 8, 2011
Market
KSE 100 Index
Symbols
Volume
151,762,107
Value
8,411,470,322
Trades
81,181
Advanced Decline Unchanged Total
Current High Low Change
198 167 23 388
All Share Index
12,389.04 12,430.16 12,274.14 h65.57
Current High Low Change
8,592.23 8,618.44 8,520.79 h41.03
OIL AND GAS
Company
Paid up Cap(mn)
PE
High Low 1,637.57 1,600.13 Total cos Defaulter cos P/BV (x) ROE (%) 3.83 32.54
Open
High
Low
Attock Petroleum 691 5.95 344.47 Attock Refinery 853 7.32 130.36 BYCO Petroleum 3921 - 11.24 Mari Gas Company 735 18.17 128.34 National Refinery 800 4.31 283.21 Oil & Gas Development XD 43009 12.22 178.81 Pak Petroleum 11950 9.18 226.21 Pak Oilfields 2365 7.60 318.55 Pak Refinery Limited 350 - 106.46 P.S.O 1715 5.02 294.94 Shell Gas LPG 226 - 33.25 Shell Pakistan 685 10.61 207.05
346.99 131.70 11.33 134.75 297.00 181.00 228.00 322.78 107.98 299.45 34.80 208.00
341.55 128.41 11.16 127.80 282.00 177.05 223.00 315.00 104.50 294.00 33.25 206.00
Close Chg 343.60 130.63 11.27 134.13 290.92 180.66 225.73 321.71 106.31 296.56 33.29 206.90
-0.87 0.27 0.03 5.79 7.71 1.85 -0.48 3.16 -0.15 1.62 0.04 -0.15
Current High Low Change
KMI 30 Index Current High Low Change
11,961.38 11,990.26 11,859.27 h72.95
19,831.31 19,866.15 19,621.60 h123.49
Last 60 days High Low
Volume 210939 3937236 940618 1020285 196586 1077465 1626388 4770840 45444 1539030 10410 44770
374.20 137.20 12.49 134.75 297.00 181.45 228.88 322.78 114.50 300.53 40.28 209.89
287.99 82.10 10.40 109.00 203.00 146.60 178.06 231.01 61.76 262.00 29.10 182.05
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
% Change 0.76 5-Day High 1,628.77 5-Day Low 1,535.69 2011 Div BR (%) (%)
20B - 15.00 20B -
-
CHEMICALS
Company
Paid up Cap(mn)
Open 720.63 Turnover 21,700 P/E (x) 5.60 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
High Low 734.20 713.23 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 25.53
Close 719.22 Listed cap 3,242.17 mn Payout (%) 11.08
Change -1.41 Market cap 12,693.65 mn Div Yield (%) 1.98
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
6.90 40.38
69.05 37.43
70.45 38.00
68.61 36.50
69.02 -0.03 37.15 -0.28
21245 455
77.77 40.42
60.05 32.36
PE
Open
High
Low
23.20 9.49 103.94 190.90 203.50 3.25 8.69 3.40 11.00 203.20 15.55 11.25 132.90 38.89 44.75 13.07 152.45 35.35 14.99 1.80 2.23 2.50 125.40 13.40 37.10
23.10 7.91 101.00 181.50 197.00 2.92 8.08 3.24 11.00 197.01 14.50 11.00 130.15 37.00 43.50 12.25 149.50 32.25 14.68 1.53 1.95 2.03 120.06 13.07 36.35
Close Chg 23.20 8.34 101.16 187.07 199.25 3.07 8.21 3.28 11.00 201.55 15.24 11.21 132.10 38.44 43.69 12.83 150.38 32.41 14.73 1.77 2.03 2.40 124.47 13.15 36.48
-0.61 -0.41 0.96 4.07 0.24 0.17 -0.27 -0.06 -0.01 3.27 0.68 0.14 1.37 1.23 0.29 0.56 -1.41 -1.30 0.02 0.15 0.07 0.05 0.05 -0.17 0.10
Close 1,464.06 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 6000 2075 2791 32681 189662 212926 469905 1046307 500 4784930 2188696 1920137 3202439 19240593 761 567612 368320 551 13739575 113 1305570 4710 2665 453328 3400
Change 17.52 Market cap 330,403.07 mn Div Yield (%) 5.44
24.85 12.75 103.94 190.90 203.50 3.74 9.25 4.24 13.79 203.20 15.55 11.39 133.50 38.89 46.59 13.85 152.49 36.00 14.99 2.75 2.74 3.40 139.40 14.69 43.75
20.26 7.16 72.05 149.72 165.73 2.00 3.41 1.32 9.15 174.00 12.90 9.16 106.01 28.15 38.03 11.00 119.50 21.39 8.71 0.80 1.30 1.80 101.00 8.17 32.00
2010 Div BR (%) (%) 5 15 40 15 40 95 17.5 20 55 5 25 50
10R 5B -
% Change 1.21 5-Day High 1,464.06 5-Day Low 1,372.62 2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,239.71 Turnover 172,063 P/E (x) 6.32 Company
High Low 1,259.46 1,221.13 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47
Close 1,226.02 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.66 6.91
19.04 45.25 45.09
19.20 46.48 46.00
18.50 45.00 44.80
18.69 -0.35 45.01 -0.24 44.80 -0.29
158192 2302 11569
Century Paper Pak Paper Product Security Paper
Change -13.69 Market cap 3,397.39 mn Div Yield (%) 4.00
Last 60 days High Low 19.49 48.90 47.70
15.28 38.61 38.00
2010 Div BR (%) (%) 2533.33B 50 -
% Change -1.10 5-Day High 1,239.71 5-Day Low 1,161.02 2011 Div BR (%) (%) -
-
INDUSTRIAL METALS AND MINING
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
565 4.25 675 555 9.75 1199 12.16 785 11.20
Open 27.15 2.61 15.43 58.89 10.00
High 27.50 2.70 15.67 59.40 10.48
Open 1,224.03 Turnover 617,800 P/E (x) 4.38 Paid up Cap(mn)
PE
High Low 1,256.77 1,210.17 Total cos Defaulter cos P/BV (x) ROE (%) 1.11 25.35
Open
High
Low
144 5.80 75.71 101 5.84 194.87 247 16.24 17.19 626 9.69 138.89 890 2.35 56 4.94 206.32 598 21.28 24.07 450 3.40 5.00 1428 - 11.57 786 5.92 257.21 823 11.46 71.97 150 3.82 20.75
77.50 197.00 18.19 143.80 2.47 212.00 25.27 5.18 11.68 266.00 72.45 20.88
72.00 194.00 18.00 132.51 2.30 206.00 24.00 4.90 11.36 257.75 71.00 20.15
Close Chg
Close 1,227.71 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Last 60 days High Low
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
26.52 2.60 15.35 58.25 9.52
Close Chg 27.20 2.64 15.60 58.39 9.86
0.05 0.03 0.17 -0.50 -0.14
23460 14305 29101 146679 702
28.45 3.39 16.05 62.20 10.70
24.00 2.00 12.50 44.00 8.00
2010 Div BR (%) (%) 30 40 7.5
20B -
2011 Div BR (%) (%) -
-
PE
Open
High
Low
866 6.61 858 182 3257 956 24.66 982 14.38 3891 3651 127.00 6933 15.18 1760 2319 32 581 1288 13126 3234 6.75 5261 1.32 541 3.60 2228 200 361 798 450.00
62.68 2.71 21.76 19.10 11.18 1.72 2.30 30.18 4.95 1.75 7.65 0.70 60.05 6.69 3.31 75.05 2.86 4.81 6.94 7.20 8.69 18.00
62.90 2.98 22.59 18.10 10.85 1.94 2.39 30.59 5.13 1.84 7.99 0.88 63.05 6.69 3.38 75.60 2.97 4.90 7.04 7.13 8.50 18.00
62.00 2.50 22.00 18.10 10.85 1.70 2.20 29.80 4.95 1.68 7.70 0.66 57.05 6.45 3.25 74.90 2.83 4.90 6.90 6.99 8.50 18.00
Change -1.10 Market cap 71,779.91 mn Div Yield (%) 2.38
Close Chg
Volume
Last 60 days High Low
62.81 2.80 22.40 18.10 10.85 1.87 2.21 30.48 5.01 1.75 7.70 0.70 59.12 6.60 3.29 75.13 2.84 4.90 7.01 7.00 8.50 18.00
5626 1879 30955 200 862 1003 117029 8871389 392789 92340 502 17504 792 6119 328894 866665 133850 174 87972 311 1008 140
65.99 4.24 24.16 25.99 12.75 2.49 3.10 32.10 5.55 2.25 9.19 1.08 63.05 8.70 3.79 79.98 3.30 8.89 8.58 7.50 9.60 22.24
0.13 0.09 0.64 -1.00 -0.33 0.15 -0.09 0.30 0.06 0.00 0.05 0.00 -0.93 -0.09 -0.02 0.08 -0.02 0.09 0.07 -0.20 -0.19 0.00
57.60 1.10 14.12 18.10 10.00 1.31 1.40 24.80 4.70 1.60 2.70 0.42 56.05 5.80 2.71 69.20 2.66 3.21 6.52 5.25 6.30 17.51
Open 1,037.97 Turnover 432,791 P/E (x) 2.92 Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
PE
Open
115 2.72 77.08 230 2.82 1067 4.55 49.21 389 3.24 47 57.50 22.71 844 67.97 131.01 300 9.16 126.98
High
High Low 1,059.57 1,037.60 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91 Low
Close Chg
78.00 76.11 76.35 2.90 2.70 2.70 49.59 49.12 49.46 3.50 3.05 3.42 23.35 23.00 23.00 134.90 130.00 132.55 128.49 125.25 125.58
-0.73 -0.12 0.25 0.18 0.29 1.54 -1.40
Close 1,048.29 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
2010 Div BR (%) (%) 50 - 122R - 20R 40 - 50R
30197 57969 1210 24009 1001 294991 23390
Change 10.32 Market cap 39,485.69 mn Div Yield (%) 5.33
Last 60 days High Low 83.23 3.30 61.10 4.05 25.90 136.74 128.70
34.00 1.82 45.30 1.60 15.10 100.11 98.10
2010 Div BR (%) (%) 20 25 -
2011 Div BR (%) (%) -
-
25B 10B -
% Change 0.99 5-Day High 1,048.29 5-Day Low 1,019.70 2011 Div BR (%) (%) -
-
INDUSTRIAL ENGINEERING Performance of SR Industrial Engineering Index Open 1,550.57 Turnover 205,364 P/E (x) 8.50 Paid up Cap(mn)
AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB Pak Engineering
High Low 1,566.72 1,544.94 Total cos Defaulter cos P/BV (x) ROE (%) 3.23 38.02
PE
Open
High
Low
215 5.66 104 214 213 11.44 124 132 7.19 366 6.84 57 601.67
235.60 44.97 1.55 12.29 129.32 60.73 517.33 228.00
237.00 44.50 1.79 12.75 127.50 61.59 526.00 217.00
233.01 44.50 1.25 12.06 126.00 60.05 518.50 216.60
Close Chg 236.22 44.50 1.55 12.35 126.02 60.07 522.88 216.60
0.62 -0.47 0.00 0.06 -3.30 -0.66 5.55 -11.40
Close 1,556.93 Listed cap 1,336.62 mn Payout (%) 131.49
Volume 2410 210 4734 56735 588 3829 136292 566
Change 6.36 Market cap 33,806.12 mn Div Yield (%) 15.46
Last 60 days High Low 239.89 51.99 2.40 14.80 147.89 80.00 526.00 324.80
200.00 41.50 0.21 10.55 113.00 58.81 437.31 216.60
2010 Div BR (%) (%) 150 25 650 100
-
77.50 197.00 19.88 143.80 2.89 212.00 25.27 5.67 13.40 282.45 77.90 26.00
65.75 137.00 15.00 94.00 1.20 139.74 21.00 4.03 10.20 220.00 66.75 17.92
2010 Div BR (%) (%) 90 100 60 20 150 10
% Change 0.30 5-Day High 1,227.71 5-Day Low 1,182.04 2011 Div BR (%) (%)
20B 20B
-
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
73.07
Total Assets (Rs in mn)
MA (10-day)
9.21
Total Equity (Rs in mn)
MA (100-day)
7.00
Revenue (Rs in mn)
MA (200-day)
7.25
Interest Expense
1,323.87
1st Support
9.80
Profit after Taxation
51.82
2nd Support
9.32
EPS 10 (Rs)
0.925 15.71
880.58 3,280.76 7.03
1st Resistance
10.63
Book value / share (Rs)
2nd Resistance
10.98
PE 11 E (x)
3.47
Pivot
10.15
PBV (x)
0.65
PSYL closed up 0.76 at 10.26. Volume was 810 per cent above average (trending) and Bollinger Bands were 32 per cent narrower than normal. The company's profit after taxation stood at Rs41.538 million which translates into an Earning Per Share of Rs0.74 for the 1st quarter of current fiscal year (1QFY11). PSYL is currently 36.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into PSYL (bullish). Trend forecasting oscillators are currently bullish on PSYL. Momentum oscillator is currently indicating that PSYL is currently in an overbought condition.
NIB Bank Limited
FOOD PRODUCERS Open 1,684.46 Turnover 481,946 P/E (x) 37.94 Company
Paid up Cap(mn)
Abdullah Shah Ghazi Sugar 793 Adam Sugar 58 AL-Abbas Sugar 174 AL-Noor Sugar 186 Bawany Sugar 87 Chashma Sugar 287 Colony Sugar Mills 990 Crescent Sugar 214 Dewan Sugar 365 Faran Sugar 217 Habib Sugar 600 Hussein Sugar 121 J D W Sugar 490 Mehran SugarSPOT 143 Mirpurkhas SugarXDXB 84 Mirza Sugar 141 Mithchells Fruit 50 National Foods 414 Noon Sugar 165 Pangrio Sugar 109 Premier Sugar 38 Quice Food 107 S S Oil 57 Sakrand Sugar 223 Sanghar Sugar 119 Shahmurad Sugar 211 Shakarganj Mills 695 Sindh Abadgar 104 Tandlianwala 1177 Thal Industries 150
High Low 1,707.54 1,632.72 Total cos Defaulter cos P/BV (x) ROE (%) 11.50 30.30
PE
Open
High
Low
10.58 1.21 8.01 3.68 1.12 2.76 4.06 7.46 3.12 3.47 4.21 0.61 9.34 22.52 0.90 4.53 0.28 1.28 6.60 5.29 322.73 7.93
6.00 19.40 94.75 50.00 5.59 12.08 3.50 5.93 3.81 20.00 33.45 10.80 89.20 59.64 52.00 6.15 82.00 60.60 10.03 6.25 45.27 2.63 3.25 3.17 14.48 10.10 6.06 10.99 35.50 66.20
5.50 19.50 94.50 52.50 5.80 12.50 3.87 5.50 4.10 20.40 33.55 10.00 89.00 60.00 53.00 6.50 86.10 62.88 9.44 6.27 47.53 2.75 3.21 3.09 14.90 10.40 6.50 11.00 35.50 62.89
5.01 19.10 94.00 50.10 4.59 11.08 3.05 5.50 3.75 19.50 33.03 9.86 86.00 57.55 50.20 6.00 78.00 59.00 9.03 6.15 43.15 2.50 3.20 2.25 14.00 10.00 5.11 10.89 35.50 62.89
Close Chg 5.50 19.44 94.50 50.46 5.00 11.08 3.28 5.50 4.02 20.24 33.21 9.86 88.00 58.73 50.51 6.00 86.10 60.36 9.20 6.16 46.49 2.53 3.21 3.09 14.44 10.10 5.93 11.00 35.50 62.89
-0.50 0.04 -0.25 0.46 -0.59 -1.00 -0.22 -0.43 0.21 0.24 -0.24 -0.94 -1.20 -0.91 -1.49 -0.15 4.10 -0.24 -0.83 -0.09 1.22 -0.10 -0.04 -0.08 -0.04 0.00 -0.13 0.01 0.00 -3.31
Close 1,688.39 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 1600 5002 2602 7877 8985 39683 20105 5000 93373 1107 63397 125 18071 3678 135 67755 2135 3364 11114 6343 305 56000 7000 30000 19155 6419 286 103 500 201
Change 3.92 Market cap 228,732.36 mn Div Yield (%) 0.81
Last 60 days High Low 9.38 20.50 97.00 53.02 6.73 15.47 5.70 6.90 5.59 21.73 36.50 13.65 92.50 68.49 68.22 7.18 86.10 75.50 14.84 6.99 53.81 3.40 3.89 3.90 15.00 13.50 7.88 11.20 36.75 98.70
4.06 11.23 90.16 41.00 0.86 8.50 2.60 5.00 1.25 18.55 29.00 9.00 66.00 50.50 48.11 4.20 61.50 39.01 9.03 4.25 32.50 2.02 3.00 2.11 13.00 9.85 3.90 4.75 28.00 62.89
2010 Div BR (%) (%)
% Change 0.23 5-Day High 1,707.64 5-Day Low 1,684.46 2011 Div BR (%) (%)
25 50 50 10 25 25 25B 7010B 12.5R 35 20B 15 20B 10 40 12 10 10 15 10 10 15 -
-
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
61.76
Total Assets (Rs in mn)
MA (10-day)
2.94
Total Equity (Rs in mn)
41,643.27
MA (100-day)
2.81
Revenue (Rs in mn)
18,272.36
MA (200-day)
3.24
Interest Expense
208,118.96
12,872.36
1st Support
3.00
Profit after Taxation
2nd Support
2.83
EPS 09 (Rs)
0.171
1st Resistance
3.32
Book value / share (Rs)
10.30
2nd Resistance
3.47
PE 10 E (x)
Pivot
3.15
PBV (x)
691.05
0.31
NIB closed up 0.21 at 3.17. Volume was 800 per cent above average (trending) and Bollinger Bands were 13 per cent narrower than normal. The company's loss after taxation stood at Rs3.559 billion which translates into a Loss Per Share of Rs0.88 for the nine months of current calendar year (9MCY10). NIB is currently 2.2 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NIB (mildly bullish). Trend forecasting oscillators are currently bullish on NIB.
Samba Bank Limited
Performance of SR Household Goods Index Open 1,148.27 Turnover 803,030 P/E (x) 2.65 Company
Paid up Cap(mn)
PE
Gauhar Engineering Ltd 22 Pak Elektron 1174 3.85 Singer Pak 341 21.91 Tariq Glass Ind 231 2.43
Open 0.65 14.62 19.85 20.51
High 1.65 15.49 19.55 20.89
10B 25B -
Open 1,012.96 Turnover 11,592,221 P/E (x) 7.05
% Change -0.11 5-Day High 1,006.96 5-Day Low 983.81
Performance of SR General Industrials Index
Company
7770 8177 3000 3761 204534 548 75028 42302 7731 54837 206697 3415
High Low 1,168.85 1,142.03 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 10.64 Low 0.99 14.60 19.50 20.30
Close Chg 1.10 0.45 15.29 0.67 19.50 -0.35 20.35 -0.16
Close 1,160.62 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 72000 712465 2105 16450
Change 12.35 Market cap 5,277.76 mn Div Yield (%) 2.36
Last 60 days High Low 1.65 15.49 20.79 21.40
0.20 12.90 16.51 15.90
Performance of SR Personal Goods Index
Close 1,003.61 Listed cap 54,792.74 mn Payout (%) 19.04
-
Performance of SR Food Producers Index
% Change -0.42 5-Day High 1,089.97 5-Day Low 1,055.58
GENERAL INDUSTRIALS
Company
0.79 0.55 1.00 -5.16 -0.03 2.68 0.62 -0.10 -0.18 2.09 0.03 -0.25
Performance of SR Construction and Materials Index High Low 1,020.72 990.58 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 7.10
2011 Div BR (%) (%)
-
HOUSEHOLD GOODS
Change -4.59 Market cap 10,605.93 mn Div Yield (%) 8.93
Last 60 days High Low
Volume
76.50 195.42 18.19 133.73 2.32 209.00 24.69 4.90 11.39 259.30 72.00 20.50
PERSONAL GOODS
Paid up Cap(mn)
Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Flying Cement Ltd Gharibwal Cement Haydery Const Javedan Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement
Low
Close 1,085.38 Listed cap 3,596.11 mn Payout (%) 30.91
40 15
Change 3.68 Market cap 44,882.56 mn Div Yield (%) 4.66
CONSTRUCTION AND MATERIALS Open 1,004.70 Turnover 10,957,810 P/E (x) 8.01 Company
High Low 1,106.62 1,069.56 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 33.10
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
Performance of SR Industrial Metals and Mining Index Open 1,089.97 Turnover 214,247 P/E (x) 3.46
% Change -0.20 5-Day High 737.35 5-Day Low 719.22
AUTOMOBILE AND PARTS
Company
High Low 1,479.11 1,437.28 Total cos Defaulter cos P/BV (x) ROE (%) 3.14 35.00
Agritech Limited 3924 8.41 23.81 Bawany Air 68 69.50 8.75 BOC (Pak) 250 13.90 100.20 Clariant Pak 273 7.15 183.00 Dawood Hercules 1203 8.26 199.01 Descon Chemical 1996 2.90 Descon Oxychem Ltd. 1020 8.48 Dewan Salman 3663 3.34 Dynea Pak 94 - 11.01 Engro Corporation Ltd 3277 11.07 198.28 Engro Polymer 6635 - 14.56 Fatima Fertilizer 22000 - 11.07 Fauji Fertilizer 6785 9.57 130.73 Fauji Fert.Bin Qasim 9341 7.25 37.21 Gatron Ind 384 2.34 43.40 Ghani Gases Ltd 725 9.72 12.27 ICI Pakistan 1388 8.47 151.79 Ittehad Chemical 360 12.09 33.71 Lotte Pakistan 15142 5.26 14.71 Mandviwala 74 1.62 Nimir Ind Chemical 1106 1.96 Shaffi Chemical 120 2.35 Sitara Chem Ind 214 10.20 124.42 Sitara Peroxide 551 14.29 13.32 Wah-Noble 90 7.02 36.38
Pakistan Synthetics Limited
Performance of SR Industrial Transportation Index
Close Change 1,628.77 12.31 Listed cap Market cap 65,194.15 mn 1,264,790.77 mn Payout (%) Div Yield (%) 55.94 4.76
Performance of SR Chemicals Index Open 1,446.54 Turnover 47,613,221 P/E (x) 8.97
Alert ! Unusual Movements
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,616.46 Turnover 14,479,393 P/E (x) 11.76
KSE 30 Index
Company
Paid up Cap(mn)
(Colony) Thal Amtex Limited Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Brothers Textile Chenab Limited Colgate Palm Colony Mills Ltd Crescent Fibres Ltd Crescent Jute Crescent Textile D S Ind Ltd Dawood Lawrencepur Gadoon Textile XD Ghani Value Glass Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Indus Dyeing J K Spinning Janana D Mal Kohat Textile Kohinoor Ind Kohinoor Textile Leather Up Masood Textile Mian Textile Mohd Farooq Moonlite (PAK) Mubarak Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Ravi Textile Redco Textile Rupali Poly Saif Textile Salman Noman Sargodha Spinning Saritow Spinning Service Ind Shahtaj Textile Sunrays Textile Suraj Cotton Thal Limited Treet Corp Tri-Star Poly Zephyr Textile Ltd Zil Limited
56 2594 133 4493 33 76 76 141 98 1150 316 2442 124 238 492 600 514 234 75 146 222 716 3105 99 181 184 43 208 303 1455 60 600 221 189 22 54 1596 3516 560 174 62 250 213 341 264 42 312 133 120 97 69 180 307 418 215 594 53
PE
Open
High
Low
Close Chg
Volume
9.52 0.39 0.42 0.47 5.33 0.45 35.13 3.84 0.63 4.43 50.88 0.74 6.97 1.24 0.93 0.75 3.61 0.66 2.47 0.92 0.23 0.53 4.11 2.94 2.06 30.00 1.96 5.85 3.47 0.73 0.45 4.73 0.36 2.54 0.52 0.33 8.00 0.73 0.85 5.46 9.65 5.07 3.66
1.02 4.29 2.82 9.56 11.38 13.50 646.23 1.60 0.46 3.13 963.60 2.45 13.61 0.99 22.55 1.72 42.85 67.40 26.00 6.81 7.42 3.99 44.92 6.75 267.43 6.76 14.95 1.06 1.64 5.67 1.65 19.50 0.51 1.33 9.39 0.80 23.70 67.31 9.50 10.10 29.00 1.50 0.99 36.61 4.45 5.70 2.25 1.85 232.53 19.22 37.00 38.04 130.97 59.70 0.71 4.00 54.51
1.28 4.34 2.90 9.80 11.25 13.50 660.00 1.70 0.50 3.20 960.00 2.64 13.61 1.09 23.05 1.85 43.99 68.20 26.50 6.98 7.65 4.00 46.50 7.75 254.12 6.65 14.00 1.20 1.98 5.80 2.60 19.55 0.50 1.60 10.39 1.20 24.14 68.80 10.50 10.20 28.50 1.62 0.99 38.00 4.50 6.00 2.90 2.00 243.99 19.25 35.50 38.50 129.25 61.74 0.71 3.85 55.00
1.27 4.15 2.20 9.55 10.38 13.10 640.00 1.40 0.31 3.02 930.00 2.36 13.61 0.90 23.05 1.62 42.70 67.10 26.00 6.05 6.90 3.99 45.00 5.75 254.06 5.76 14.00 1.00 1.10 5.35 2.00 19.51 0.50 1.25 8.39 1.20 23.55 66.51 9.67 10.00 28.10 1.43 0.99 36.58 3.90 5.20 2.65 2.00 233.00 19.25 35.50 38.00 127.01 59.40 0.71 3.85 52.01
1.27 0.25 4.19 -0.10 2.81 -0.01 9.60 0.04 10.38 -1.00 13.50 0.00 642.71 -3.52 1.68 0.08 0.40 -0.06 3.08 -0.05 935.80-27.80 2.46 0.01 13.61 0.00 1.00 0.01 23.05 0.50 1.75 0.03 43.25 0.40 68.20 0.80 26.50 0.50 6.48 -0.33 7.64 0.22 4.00 0.01 45.96 1.04 7.74 0.99 254.06-13.37 6.02 -0.74 14.00 -0.95 1.00 -0.06 1.67 0.03 5.75 0.08 2.47 0.82 19.54 0.04 0.50 -0.01 1.25 -0.08 10.16 0.77 1.20 0.40 23.65 -0.05 68.14 0.83 10.26 0.76 10.00 -0.10 28.21 -0.79 1.53 0.03 0.99 0.00 37.65 1.04 4.50 0.05 6.00 0.30 2.66 0.41 2.00 0.15 233.54 1.01 19.25 0.03 35.50 -1.50 38.09 0.05 127.76 -3.21 60.63 0.93 0.71 0.00 3.85 -0.15 54.62 0.11
3000 268040 1004 2517618 4901 2911 1660 2133 99048 19960 367 504 1000 16748 200 131649 14810 2120 805 1015 912 23000 219812 16559 210 7997 1000 16000 29654 30004 2000 1155 13569 3160 3077 500 1652041 5570676 407866 4511 7000 8409 3000 1555 103002 201 5204 6000 2991 500 500 4100 101841 226358 2000 21115 4717
Change 0.13 Market cap 137,340.29 mn Div Yield (%) 2.37
Last 60 days High Low 1.99 12.45 3.45 12.32 17.85 14.50 747.48 2.80 1.49 3.90 965.00 3.33 14.60 1.38 23.99 2.37 47.00 71.40 41.20 8.86 10.30 4.88 46.50 7.75 350.15 9.50 20.50 1.50 2.00 5.97 3.00 21.40 0.75 2.08 11.99 1.39 25.14 68.80 10.50 11.25 31.03 1.99 1.45 38.10 6.85 6.00 3.43 2.99 276.50 21.90 39.84 39.69 132.00 63.30 1.50 4.90 58.99
10B -
0.52 4.00 1.32 9.20 8.10 10.82 436.00 0.60 0.15 3.00 680.00 2.17 8.41 0.16 17.89 1.47 36.10 38.30 25.70 5.01 6.30 3.35 34.05 2.85 209.03 4.05 13.25 0.51 1.10 4.82 1.10 18.01 0.14 0.50 4.50 0.60 17.82 48.75 5.16 7.65 25.00 1.26 0.55 31.25 3.10 2.01 1.50 1.10 169.00 15.61 32.00 29.00 86.50 37.50 0.26 2.35 36.00
2010 Div BR (%) (%) 30 7.5 - 15B 20 10 15 5 70 25 10 10 20B 10 20 50 20 5B 15 100R 15 25 45R 10 10B 50 40 5B 5 45 30 50 80 20B 35 -
-
-
% Change 0.01 5-Day High 1,013.09 5-Day Low 1,002.30 2011 Div BR (%) (%) -
-
Performance of SR Pharma and Bio Tech Index Open 986.85 Turnover 79,030 P/E (x) 7.44
2011 Div BR (%) (%) -
Close 1,013.09 Listed cap 47,070.70 mn Payout (%) 16.68
17.5
2011 Div BR (%) (%)
PHARMA AND BIO TECH
% Change 0.41 5-Day High 1,556.93 5-Day Low 1,536.55
-
High Low 1,023.19 1,006.96 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64
2010 Div BR (%) (%)
% Change 1.08 5-Day High 1,160.62 5-Day Low 1,130.06
Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 100 306
PE
Open
9.51 109.00 6.68 86.75 15.36 85.58 8.27 29.43 6.69 8.46 7.59 34.35 5.62 60.09
High
High Low 998.64 978.63 Total cos Defaulter cos P/BV (x) ROE (%) 1.66 22.31 Low
Close Chg
109.25 108.13 108.50 -0.50 89.00 87.00 88.49 1.74 86.50 85.00 85.38 -0.20 30.35 29.00 29.86 0.43 9.00 7.81 8.30 -0.16 34.00 34.00 34.00 -0.35 63.09 60.00 62.51 2.42
Close 989.01 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 2650 798 19193 4493 11110 2010 38772
Change 2.16 Market cap 33,197.07 mn Div Yield (%) 5.99
Last 60 days High Low 112.50 113.00 89.98 30.35 9.00 35.15 64.50
89.88 82.20 68.00 23.50 7.16 27.50 59.00
2010 Div BR (%) (%) 20 30
20B -
% Change 0.22 5-Day High 994.18 5-Day Low 975.33 2011 Div BR (%) (%) 15 -
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
57.58
Total Assets (Rs in mn)
MA (10-day)
1.98
Total Equity (Rs in mn)
7,075.66
MA (100-day)
1.91
Revenue (Rs in mn)
1,878.63
MA (200-day)
2.30
Interest Expense
23,734.13
1,208.86
1st Support
2.04
Loss after Taxation
(593.05)
2nd Support
1.97
EPS 09 (Rs)
1st Resistance
2.12
Book value / share (Rs)
8.07
2nd Resistance
2.13
PE 10 E (x)
0.52
Pivot
2.05
PBV (x)
0.26
(0.676)
SBL closed up 0.06 at 2.06. Volume was 10 per cent below average and Bollinger Bands were 28 per cent narrower than normal. The company's profit after taxation stood at Rs349.696 million which translates into an Earning Per Share of Rs2.98 for the nine months of current calendar year (9MCY10). SBL is currently 10.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SBL (mildly bullish). Trend forecasting oscillators are currently bullish on SBL.
Pakistan International Airline Corp Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
54.46
Total Assets (Rs in mn)
160,013.18
MA (10-day)
2.36
Total Equity (Rs in mn)
(20,772.84)
MA (100-day)
2.23
Revenue (Rs in mn)
94,563.77
MA (200-day)
2.51
Interest Expense
1st Support
2.40
Loss after Taxation
2nd Support
2.33
EPS 09 (Rs)
(2.72)
1st Resistance
2.52
Book value / share (Rs)
9,243.77
(8.92)
2nd Resistance
2.57
PE 10 E (x)
Pivot
2.45
PBV (x)
(5,822.43)
(0.27)
PIAA closed down -0.06 at 2.40. Volume was 86 per cent above average and Bollinger Bands were 25 per cent narrower than normal. The company's loss after taxation stood at Rs11.693 billion which translates into a Loss Per Share of Rs4.79 for the nine months of current calendar year (9MCY10). PIAA is currently 4.4 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into PIAA (mildly bullish). Trend forecasting oscillators are currently bullish on PIAA.
BOOK CLOSURES Company
From
To
BOC Pakistan Buxly Paints # TRG Pakistan Shadman Cotton Mills # Kohinoor Mills # Mybank Ltd. # Summit Bank # Ellcot Spin Mills # Prosperity Weaving Mills # Mehran Sugar Mills Dawood Lawrencepur # Habib Sugar Mills Lakson Tobacco # Haseeb Waqas Sugar Mills Nagina Cotton Mills # Sanghar Sugar Mills Sindh Abadgar's Sugar Mills Shahtaj Sugar Mills Shahmurad Sugar Mills Fecto Sugar Mills Al-Noor Sugar Mills Pangrio Sugar Mills
11-Jan 11-Jan 12-Jan 12-Jan 13-Jan 13-Jan 13-Jan 14-Jan 14-Jan 14-Jan 15-Jan 15-Jan 18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 20-Jan 22-Jan 22-Jan 22-Jan 22-Jan
17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 25-Jan 31-Jan 28-Jan 1-Feb 2-Feb 29-Jan 2-Feb 31-Jan
D/B/R 25.25(B) 10-Jan 15-Jan 10-Jan 10-Jan 19-Feb 10-Jan
Spot AGM/Date 7-Jan 10-Jan 11-Jan 14-Jan 14-Jan
17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 25-Jan 31-Jan 28-Jan 27-Jan 28-Jan 29-Jan 28-Jan 31-Jan
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Shezan International Grays of Cambridge Pak Tobacco Shifa Int.Hospitals Eye Television Media Times Ltd P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 53.01 3.4 122.74 50 116.51 29.9 24.67 46.42 2.46 48.81 2.54 20.01
High 53.05 3.46 128.87 49.9 120 31.39 25 44.1 2.5 50.99 2.65 20.35
Low Close 52.1 3.27 122.51 49.5 114 29.91 23.61 44.1 2.38 47.6 2.41 19.85
52.1 3.31 122.51 49.85 114.95 31.39 24 44.1 2.4 48.93 2.47 20.17
Change -0.91 -0.09 -0.23 -0.15 -1.56 1.49 -0.67 -2.32 -0.06 0.12 -0.07 0.16
Vol 1030 1639381 11621 550 3963 13071 2338 213 270228 450 731587 616450
7
Saturday, January 8, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,148.29 Turnover 6,311,314 P/E (x) 6.15 Paid up Cap(mn)
Company
High Low 1,161.53 1,124.53 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
Pak Datacom 78 4.88 Pakistan Telecomm Co A 37740 13.00 Telecard 3000 0.65 WorldCall Tele 8606 Wateen Telecom Ltd 6175 -
79.00 19.52 2.19 2.68 3.55
80.00 19.70 2.24 2.78 3.60
78.50 19.10 2.15 2.64 3.52
79.00 19.50 2.17 2.71 3.54
0.00 -0.02 -0.02 0.03 -0.01
Close 1,147.68 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 2661 5738896 175566 394191 121825
Change -0.61 Market cap 79,381.43 mn Div Yield (%) 10.17
106.00 20.12 2.69 3.45 4.25
76.50 18.21 2.10 2.40 3.35
% Change -0.05 5-Day High 1,150.11 5-Day Low 1,136.04
2010 Div BR (%) (%) 80 17.5 1 -
2011 Div BR (%) (%)
-
-
Ask Gen Insurance Atlas Insurance Century Insurance EFU General Insurance Habib Insurance IGI Insurance Pak Reinsurance Premier Insurance Reliance Insurance XB Shaheen Insurance Silver Star Insurance
204 6.67 369 6.12 457 7.34 1250 400 3.56 718 17.29 3000 41.92 303 6.75 252 4.05 200 253 4.23
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd S G Power Southern Electric Tri-star Power XD
PE
198 11572 6.97 1560 7932 1695 10.99 126 2.80 8803 5.20 3673 3.74 3541 27.90 178 1367 150 -
Open
High
0.89 37.98 1.75 3.14 20.81 4.55 43.01 17.01 17.38 1.20 2.20 1.00
0.94 38.38 1.75 3.35 20.75 4.60 43.40 17.50 17.61 1.19 2.25 1.09
Low
Close Chg
0.83 37.90 1.66 3.11 19.77 4.60 42.55 16.80 17.20 0.70 2.16 1.00
0.85 38.05 1.73 3.16 19.78 4.60 42.79 17.07 17.30 1.00 2.21 1.05
-0.04 0.07 -0.02 0.02 -1.03 0.05 -0.22 0.06 -0.08 -0.20 0.01 0.05
Close 1,326.22 Listed cap 95,369.29 mn Payout (%) 104.13
Change -1.10 Market cap 108,918.82 mn Div Yield (%) 6.97
Last 60 days High Low
Volume 10008 339041 64065 4242221 15743 240 735550 2858309 1119537 3010 228282 188
1.45 38.38 2.25 3.55 25.25 5.69 43.40 17.50 17.75 1.69 2.80 1.75
0.60 32.97 1.30 2.00 17.95 4.01 38.35 11.25 12.30 0.37 2.05 0.65
% Change -0.08 5-Day High 1,331.36 5-Day Low 1,277.14
2010 Div BR (%) (%) 50 15 50 -
2011 Div BR (%) (%)
7.8R -
-
-
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,570.26 Turnover 153,498 P/E (x) 9.99 Company Sui North Gas Sui South Gas
High Low 1,582.90 1,556.38 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 11.41
Close 1,563.94 Listed cap 12,202.80 mn Payout (%) 66.79
Change -6.32 Market cap 33,454.42 mn Div Yield (%) 6.69
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.18 3.30
27.57 21.99
27.75 22.19
27.41 21.75
27.48 -0.09 21.89 -0.10
67804 85694
34.75 30.23
25.71 19.95
% Change -0.40 5-Day High 1,570.26 5-Day Low 1,486.21
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,189.88 Turnover 29,987,449 P/E (x) 8.55 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.98 Askari Bank 6427 8.43 Bank Alfalah 13492 14.26 Bank AL-Habib 7322 8.06 Bank Of Khyber 5004 5.61 Bank Of Punjab 5288 BankIslami Pak 52801005.00 Faysal Bank 7309 4.92 Habib Bank Ltd 10019 7.81 Habib Metropolitan Bank 8732 8.72 JS Bank Ltd 8150 KASB Bank Ltd 9509 MCB Bank Ltd 7602 10.02 Meezan Bank 6983 10.41 Mybank Ltd 5304 National Bank 13455 6.78 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Stand Chart Bank 38716 13.29 Summit Bank Ltd 5000 United Bank Ltd 12242 7.89
71.75 17.37 11.22 37.23 4.12 10.03 4.06 15.32 124.98 28.56 2.50 2.53 226.16 19.64 2.79 77.42 2.96 2.00 2.77 7.95 8.51 3.81 66.53
High
High Low Close 1,205.70 1,179.96 1,192.35 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.19 13.94 40.49 Low
Close Chg
72.06 71.35 71.85 0.10 17.94 17.21 17.70 0.33 11.36 11.10 11.12 -0.10 37.68 37.10 37.40 0.17 4.35 4.08 4.21 0.09 10.15 9.85 9.93 -0.10 4.15 3.92 4.02 -0.04 15.55 15.17 15.24 -0.08 126.06 124.69 124.99 0.01 28.98 28.15 28.50 -0.06 2.54 2.43 2.45 -0.05 2.54 2.41 2.43 -0.10 227.99 223.80 225.99 -0.17 20.30 19.60 19.68 0.04 2.93 2.56 2.65 -0.14 78.35 77.15 77.65 0.23 3.30 2.98 3.17 0.21 2.06 1.98 2.06 0.06 2.83 2.70 2.81 0.04 7.99 7.77 7.80 -0.15 8.70 8.50 8.64 0.13 3.88 3.72 3.81 0.00 67.60 66.20 67.15 0.62
Last 60 days High Low
Volume 168166 975526 963644 151223 4608 954110 186846 172913 376749 3001 49208 5501 1247251 390522 231917 5484835 12706986 157724 4092468 9183 4052 161661 1651016
Change 2.47 Market cap 723,017.91 mn Div Yield (%) 4.74
72.99 18.10 11.52 37.74 4.70 10.59 4.16 17.10 126.45 29.28 3.00 2.90 232.00 20.30 3.10 78.35 3.30 2.65 3.04 8.48 9.04 4.23 70.65
51.70 14.50 8.70 31.44 2.57 8.04 2.77 13.50 95.01 18.02 2.25 2.16 193.70 14.50 1.90 63.53 2.59 1.51 2.50 5.61 6.15 2.60 52.00
% Change 0.21 5-Day High 1,192.35 5-Day Low 1,158.84
2010 Div BR (%) (%)
Open 861.48 Turnover 22,970 P/E (x) 6.10
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 782.13 Turnover 1,640,167 P/E (x) 12.54 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 25.77
Open 87.73
High 89.80
High Low 795.35 778.21 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20 Low
Close Chg
88.10
88.91 1.18
Close 785.61 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 1285399
Change 3.48 Market cap 48,506.59 mn Div Yield (%) 6.34
Last 60 days High Low 91.75
65.55
% Change 0.44 5-Day High 785.61 5-Day Low 757.87
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
11.00 38.50 11.75 42.62 14.94 93.21 16.35 12.48 6.60 13.44 6.81
0.02 0.38 0.07 -0.57 0.32 -0.79 0.05 0.18 0.00 0.14 -0.19
10594 1929 1701 66151 2000 2933 249176 15674 972 2999 487
12.75 39.90 12.00 48.63 15.39 99.88 17.20 12.85 7.70 14.53 8.17
10.00 28.81 9.45 35.00 10.04 72.01 13.61 8.00 6.15 11.65 6.01
10 -
25R 20B -
-
UP TO 100 VOLUME
-
Symbols
High Low 876.48 850.35 Total cos Defaulter cos P/BV (x) ROE (%) 3.70 3.85
Close 855.49 Listed cap 2,290.72 mn Payout (%) 355.53
Change -5.98 Market cap 9,971.07 mn Div Yield (%) 3.70
Last 60 days High Low
2010 Div BR (%) (%)
2440.00
2499.99
2345.00
2471.66
31.66
74 69
45 45
2011 Div BR (%) (%)
SHCM
9.05
10.05
10.00
FECS
48.99
51.40
46.55
60.00 39.95
-
-
-
-
FZTM
410.83
415.00
402.00
413.61
2.78
4342.00
4375.00
4202.00
4353.80
11.80
44
CLOV
73.51
76.50
69.84
74.00
0.49
43
KOSM
0.96
1.58
1.30
1.30
0.34
39
PGCL
23.70
24.78
24.69
24.70
1.00
37
ULEVER
FINANCIAL SERVICES Performance of SR Financial Services Index
10.00
0.95
32
46.55
-2.44
31
FRCL
1.78
2.24
1.75
1.90
0.12
30
NOPK
23.95
24.79
24.79
24.79
0.84
SIEM
1210.00
1234.90
1229.99
1234.90
24.90
SHJS
65.31
62.05
62.05
62.05
-3.26
22
UPFL
1101.00
1111.00
1100.00
1110.45
9.45
20
29 24
TSBL
2.74
3.25
1.74
3.25
0.51
18
BAFS
59.00
61.40
60.00
61.40
2.40
18
SEL
18.70
18.95
18.95
18.95
0.25
18
PSEL
14
167.99
170.00
159.60
159.60
-8.39
% Change -0.09 5-Day High 405.88 5-Day Low 394.04
SHTM
0.49
0.49
0.48
0.49
0.00
NBF
3.70
3.85
3.50
3.85
0.15
FNEL
8.46
8.69
8.69
8.69
0.23
10
PRWM
14.85
15.30
15.30
15.30
0.45
10
LAKST
293.00
302.00
282.01
298.48
5.48
10
13.88
13.50
13.50
13.50
-0.38
10
2011 Div BR (%) (%)
ASFL
5.00
4.00
4.00
4.00
-1.00
9
TOWL
5.21
4.90
4.90
4.90
-0.31
9
FIBLM
1.98
2.88
1.62
2.85
0.87
8
HAL
12.10
12.10
12.10
12.10
0.00
8
SCL
95.24
95.24
95.24
95.24
0.00
8
SNAI
46.80
48.45
46.50
47.06
0.26
7
SMTM
5.99
5.99
5.55
5.99
0.00
7
AACIL
3.40
3.44
3.15
3.37
-0.03
7
MODAM
1.33
1.55
1.55
1.55
0.22
BUXL
13.70
13.80
13.80
13.80
0.10
FECM
2.77
3.24
3.05
3.20
0.43
4
TATM
36.57
37.50
35.00
37.45
0.88
4
ADMM
23.03
24.00
22.50
22.90
-0.13
4
1096.00
1050.00
1050.00
1050.00
-46.00
4
5.01
6.01
6.01
6.01
1.00
3
-
IDEN
-
WYETH SFWF
12 11
5 5
PIL
8.80
9.40
8.02
8.99
0.19
3
CWSM
1.25
1.64
1.39
1.39
0.14
3
HMIM
1.05
1.10
0.97
1.10
0.05
3
MUKT
0.57
0.82
0.64
0.82
0.25
3
YOUW
1.65
1.73
1.73
1.73
0.08
3
REWM
9.39
9.34
9.01
9.01
-0.38
2
DNCC
2.51
3.39
3.39
3.39
0.88
2
91.25
92.99
92.99
92.99
1.74
2
TSMF
1.34
1.49
1.49
1.49
0.15
1
ALICO
18.49
17.50
17.50
17.50
-0.99
1
UVIC
3.82
3.99
3.99
3.99
0.17
1
EQUITY INVESTMENT INSTRUMENTS
IDRT
3.64
3.65
3.65
3.65
0.01
1
QUET
38.01
39.91
39.91
39.91
1.90
1
Performance of SR Equity Investment Instruments Index
KOHS
4.37
5.34
5.00
5.00
0.63
1
JOPP
8.70
8.00
8.00
8.00
-0.70
1
Open 1,350.61 Turnover 1,901,904 P/E (x) 18.48 Paid up Cap(mn)
Company
NESTLE
48
86.95 49.31
20B 20B 10B -
-0.68
65
480 14100
30 11.5 10 -
58.29
1.51
0.30
74.50 0.63 42.00 -0.53
0.33 13.50 24.40 22.10 1.05 1.28 1.85 2.15 0.18 1.50 6.16 0.52 3.00 1.05 8.85 2.15 24.25 5.21 3.50 4.70 1.46 0.46 2.25
2090.30
1.32
1.68
73.30 42.00
0.95 19.98 28.95 27.02 2.14 2.69 3.47 4.50 2.95 3.90 8.88 0.97 4.80 2.40 14.05 5.38 32.37 7.59 5.43 7.29 2.70 0.97 3.00
2032.00
1.51
1.35
74.90 43.50
48136 38913 41476 5060234 1001 132 2000 53000 3764 30633 830 136697 4623 1151 1873791 178653 4900 62231 17469 11000 27075 27264 2005
2118.95
2.19
1.68
73.87 42.53
-0.01 -0.53 -0.01 0.55 0.43 -0.23 -0.06 -0.42 -0.46 0.01 -0.10 -0.08 -0.01 0.11 0.04 -0.03 -0.63 0.07 -0.22 -0.40 0.04 0.06 0.00
86
2032.01
GAMON
1.38
850 42.33 627 28.19
0.68 17.72 26.06 26.63 1.93 1.75 2.69 3.02 2.02 2.90 7.00 0.62 3.13 1.88 11.07 4.01 28.00 6.73 4.61 6.20 2.08 0.68 2.85
90
RMPL
FPJM
EFU Life Assurance New Jub Life Insurance
0.65 17.70 25.75 25.90 1.90 1.28 2.68 3.02 2.00 2.65 7.00 0.62 3.04 1.80 11.00 4.00 27.60 6.68 4.60 6.10 2.00 0.63 2.58
0.72
% Change -0.69 5-Day High 896.07 5-Day Low 855.49
-
0.80 18.25 26.44 26.85 1.93 2.00 2.70 3.02 2.95 2.99 7.00 0.79 3.44 1.95 11.25 4.19 28.25 6.80 5.15 6.50 2.13 0.97 2.85
8.40
-0.19
-
0.69 18.25 26.07 26.08 1.50 1.98 2.75 3.44 2.48 2.89 7.10 0.70 3.14 1.77 11.03 4.04 28.63 6.66 4.83 6.60 2.04 0.62 2.85
8.40
6.81
20R
AMZ Ventures 225 1.55 Arif Habib Investments 360 3.49 Arif Habib Limited 450 13.30 Arif Habib Corp 3750 4.90 Dawood Cap Mangt. XB 150 1.72 Dawood Equities 250 Escorts Bank 441 First Credit & Invest Bank Ltd 650 12.58 Grays Leasing 215 IGI Investment Bank 2121 18.13 Invest and Fin Sec 600 700.00 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.67 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 7.53 JS Investment 1000 28.04 KASB Securities 1000 Orix Leasing 821 4.56 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Stand Chart Leasing 978 5.94
8.40
6.81
-
2010 Div BR (%) (%)
7.68
6.81
2.08
Last 60 days High Low
98
WAZIR
7.00
4.62
Volume
100
0.00
UNIC
8389
Close Chg
5.00
60.00
50
2.85 -0.15
Low
109.00
60.00
1.00
Close Chg
High
109.00
60.00
-1.37
2.81
Open
109.00
60.00
22.00
Low
PE
100
104.00
MEHT
30.10
3.40
Paid up Cap(mn)
100
SAPT
22.00
High
Company
100
0.22 -0.15
30.10
3.00
Change -0.36 Market cap 18,944.24 mn Div Yield (%) 3.38
Vol
0.25
1.59
22.00
Open
Close 405.17 Listed cap 30,336.44 mn Payout (%) 99.56
Change
3.25 58.25
1.59
30.10
-
High Low 412.71 401.43 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91
Close
3.25 58.25
1.60
21.00
PE
Open 405.54 Turnover 2,513,773 P/E (x) 11.43
Low
3.25 58.25
1.74
31.47
455
Volume
High
3.00 58.03
ICCT
GATM
Paid up Cap(mn)
Company
Open
FANM NJICL
HWQS
East West Life
2011 Div BR (%) (%)
20 - 20B - 66R 55 -63.46R 10 -
10.95 37.51 11.65 42.25 14.94 92.00 16.22 12.25 6.60 13.00 6.81
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,346.25 1,318.88 Total cos Defaulter cos P/BV (x) ROE (%) 1.40 9.35
11.00 39.20 11.89 43.50 15.00 95.48 16.50 12.85 6.60 14.20 7.23
LIFE INSURANCE
-
ELECTRICITY Open 1,327.32 Turnover 9,616,222 P/E (x) 14.94
10.98 38.12 11.68 43.19 14.62 94.00 16.30 12.30 6.60 13.30 7.00
1st Fid Leasing AL-Meezan Mutual F. Atlas Fund of Funds B F Modaraba B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Equity Modaraba First Capital Mutual F. First Dawood Mutual F. Golden Arrow H B L Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Nat Bank Modaraba Pak Modaraba Paramount Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Stand Chart Modaraba U D L Modaraba UNICAP Modaraba
PE
264 1375 525 75 780 65 200 524 300 581 760 397 3180 1186 283 1200 250 125 59 1000 2835 2841 872 454 264 136
9.94 7.54 1.85 2.63 3.68 2.89 1.43 12.50 7.90 0.63 2.21 2.54 71.50 18.29 1.18 7.50 5.65 5.05 6.88 2.01 8.50 7.45 2.45 4.71 1.72 27.50
Open 1.41 8.77 4.50 3.26 1.85 1.50 0.56 1.70 3.50 2.00 3.15 7.70 5.63 5.18 1.70 7.90 6.15 1.17 9.10 6.80 13.03 6.54 1.00 9.45 6.06 0.08
High 1.80 9.08 4.60 4.00 1.87 1.88 0.60 2.14 4.50 2.16 3.19 7.65 5.75 5.24 1.70 7.95 6.10 1.24 9.00 6.99 13.30 6.65 1.09 9.60 6.14 0.95
High Low 1,369.52 1,341.12 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 2.21 Low
Close Chg
1.59 8.90 4.60 4.00 1.60 1.20 0.57 1.55 3.16 2.00 3.09 7.61 5.60 5.10 1.60 7.77 6.02 1.00 8.80 6.80 13.05 6.55 1.00 9.25 6.00 0.15
1.59 9.05 4.60 4.00 1.62 1.27 0.57 2.00 3.16 2.00 3.10 7.62 5.72 5.12 1.61 7.80 6.10 1.01 8.80 6.91 13.26 6.56 1.08 9.60 6.06 0.55
0.18 0.28 0.10 0.74 -0.23 -0.23 0.01 0.30 -0.34 0.00 -0.05 -0.08 0.09 -0.06 -0.09 -0.10 -0.05 -0.16 -0.30 0.11 0.23 0.02 0.08 0.15 0.00 0.47
Close 1,359.09 Listed cap 29,771.58 mn Payout (%) 104.74
Change 8.48 Market cap 18,209.55 mn Div Yield (%) 8.81
Last 60 days High Low
Volume 188 198545 125979 108 12698 2998 1001 623526 101 150808 85715 546 89624 194191 2591 50261 58500 588 500 18637 203741 67370 5726 2242 1534 4000
2.00 9.08 4.80 4.35 2.79 1.99 1.10 2.37 5.50 2.28 3.80 8.49 5.89 5.24 2.23 8.25 7.74 2.00 9.45 7.18 13.40 6.74 1.19 10.29 6.99 0.95
1.05 5.85 2.70 2.89 0.90 0.90 0.16 1.03 2.55 1.30 2.56 5.11 2.65 2.31 1.26 5.15 4.50 0.30 7.57 4.83 7.90 3.50 0.81 7.81 4.71 0.05
2010 Div BR (%) (%) 18.5 2.2 0 1.2 17 11 5 10 2.8 15.5 10 3 18 10 20 10 3 17 12.5 -
10B -
MUREB
% Change 0.63 5-Day High 1,359.09 5-Day Low 1,322.98 2011 Div BR (%) (%) -
-
ARPAK
13.90
12.90
12.90
12.90
-1.00
1
DIIL
13.82
12.82
12.82
12.82
-1.00
1
PHDL
36.76
34.93
34.93
34.93
-1.83
1
FUTURE CONTRACTS Symbols
Open
High
Low
Close
Change
Vol
FFBL-JAN
37.39
39.05
37.15
38.64
1.25 2,104,500
POL-JAN
319.52
323.00
316.00
321.19
1.67 1,784,500
ENGRO-JAN 199.38
204.00
198.00
202.78
3.40 752,500
NML-JAN
67.29
68.20
66.71
68.05
0.76 711,000
NBP-JAN
77.92
78.69
77.51
78.08
DGKC-JAN
30.44
30.70
30.00
30.58
FFC-JAN
131.44
133.90
131.49
132.77
1.33 192,000
ANL-JAN
9.57
9.79
9.61
9.63
0.06 180,000
PSO-JAN
297.09
300.94
295.50
298.22
1.13 157,000
MCB-JAN
226.96
228.00
224.50
226.89
-0.07 121,500
PPL-JAN
226.47
227.65
224.00
226.38
-0.09
111,500
UBL-JAN
66.93
67.80
66.85
67.33
0.40
63,000
OGDC-JAN
178.45
180.50
177.12
180.22
1.77
50,500
AICL-JAN
88.05
90.00
88.80
89.49
1.44
48,000
NCL-JAN
23.82
24.15
23.82
24.13
0.31
12,500
NETSOL-JAN 20.20
20.10
20.10
20.10
-0.10
10,000
BOP-JAN
10.10
10.25
9.90
9.90
-0.20
8,000
LUCK-JAN
75.50
75.80
75.22
75.57
0.07
6,500
PTC-JAN
19.50
19.35
19.31
19.33
-0.17
1,000
0.16 621,500 0.14 415,000
ZERO VOLUME Symbols ALQT
Open 7.00
High
Low
7.50
7.50
Close
Change
7.50
Vol
0.50
-
MQTM
8.50
8.75
8.75
8.75
0.25
SHDT
13.68
13.60
13.60
13.60
-0.08
-
FASM
33.00
33.01
33.01
33.01
0.01
-
KHTC
32.76
34.39
34.39
34.39
1.63
-
-
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Dera Ghazi Khan Cement Co Ltd
Pakistan Telecommunication Co Ltd
Company
Date
Time
J.K. Spinning Mills Ltd Bawany Sugar Mills Ltd Punjab Oil Mills Limited Dandot Cement Company Ltd Media Times Ltd Tandlianwala Sugar Mills Ltd Abdullah Shah Ghazi Sugar Atlas Income Fund Nadeem Textile Mills Ltd Fauji Fertilizer Bin Qasim Ltd Unilever Pakistan Limited Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd
08-Jan 08-Jan 08-Jan 08-Jan 10-Jan 10-Jan 10-Jan 11-Jan 11-Jan 25-Jan 14-Feb 16-Feb 17-Feb
10.00 10.00 11.00 4.30 3.00 5.00 4.00 2.15 5.00 10.30 2.30 12.30 2.30
TECHNICAL LEVELS Company
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
78.22
Support 1
12,298.75
MA (5-day)
12,162.61
Support 2
12,208.45
MA (10-day)
12,051.08
Resistance 1
12,454.75
MA (100-day)
10,660.47
Resistance 2
12,520.45
10,374.07
Pivot
AKD Securities Ltd
resistance level at 12,454.75 and 2nd resistance level at 12,520.45, while Index will continue to find its 1st support level at 12,298.75 and 2nd sup-
34.7
Sell
*Arif Habib Ltd
Accumulate Negative
32.06
TFD Research
29.1
Brokerage House
68.17 36.75 31.25 30.21
Fair Value
Rs Recommendations Buy
AKD Securities Ltd
AKD Securities Ltd
43.29
Buy
TFD Research
TFD Research
36.85
Positive
* 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)
Leverage Position
55.31 30.01 27.18 26.93
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House AKD Securities Ltd
ing oscillators are currently bullish on FFBL.
Brokerage House
Fair Value
Rs Recommendations
59.97
Buy
*Arif Habib Ltd
Neutral
AKD Securities Ltd
TFD Research
74.2
Fair Value
182.55 5,564.11 37.86 30.26
* Target price for Jun-11 & **Net Open Interest in future market
71.53 64.68 52.51 51.55
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
175.80 11,979.01 83.23 67.69
* Target price for Jun-11 & **Net Open Interest in future market
24.04
Buy
30.5
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
54.12 19.40 19.02 19.49
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
585.00 11,407.49 7.46 19.46
* Target price for Jun-11 & **Net Open Interest in future market
82.1
Rs Recommendations
Brokerage House
Buy
*Arif Habib Ltd
Neutral
AKD Securities Ltd
92.3
Positive
TFD Research
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
71.22 75.40 66.79 67.81
PTC is currently 0.1 per cent above its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of PTC at a relatively equal pace. Trend forecasting oscillators are currently bearish on PTC.
Pakistan Oilfields Ltd
Fair Value
Rs Recommendations
Brokerage House
318.44 24,727.19 92.77 77.64
* Target price for Jun-11 & **Net Open Interest in future market
Rs Recommendations
Sell
*Arif Habib Ltd
317.2
Hold
Buy
AKD Securities Ltd
296.6
Buy
Neutral
TFD Research
208.75
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
176 238.8
64.10 194.80 180.49 185.36
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
281.35
Negative
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
(trending) and Bollinger Bands were 64 per cent narrower than normal.
Engro Corporation
Technical Outlook
Technical Outlook Technical Analysis
Trend forecasting oscillators are currently bearish on DGKC.
61.96
TFD Research
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
FFBL closed up 1.23 at 38.44. Volume was 600 per cent above average DGKC closed up 0.30 at 30.48. Volume was 102 per cent above average PTC closed down -0.02 at 19.50. Volume was 255 per cent above average
National Bank of Pakistan
Nishat Mills Ltd
Fair Value
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) 326.94 Free Float Rs (mn) 12,567.52 ** NOI Rs (mn) 81.86 Mean 37.89
(trending) and Bollinger Bands were 3 per cent wider than normal. port level at 12,208.45. and Bollinger Bands were 47 per cent narrower than normal. KSE 100 INDEX is currently 19.5 per cent above its 200-day moving average FFBL is currently 27.4 per cent above its 200-day moving average and is DGKC is currently 13.2 per cent above its 200-day moving average and is and is displaying an upward trend. Volatility is extremely high when com- displaying an upward trend. Volatility is extremely high when compared to displaying a downward trend. Volatility is extremely low when compared to pared to the average volatility over the last 10 trading sessions. Volume indithe average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators cators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX. Momentum oscillator is reflect moderate flows of volume into FFBL (mildly bullish). Trend forecast- reflect volume flowing into and out of DGKC at a relatively equal pace. currently indicating that INDEX is currently in an overbought condition.
Brokerage House
42
Technical Outlook Technical Analysis
12,364.45
mal. As far as resistance level is concern, the market will see major 1st
Rs Recommendations
*Arif Habib Ltd
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 65.57 points at 12,389.04. Volume was 63 per MA (100-day) cent above average and Bollinger Bands were 14 per cent wider than nor- MA (200-day) MA (200-day)
Fair Value
147.48 29,724.91 135.75 200.01
* 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)
78.67 301.62 251.87 240.99
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
107.94 34,726.06 298.04 0.00
* Target price for Jun-11 & **Net Open Interest in future market
NML closed up 0.83 at 68.14. Volume was 31 per cent above average and NBP closed up 0.23 at 77.65. Volume was 41 per cent above average and ENGRO closed up 3.27 at 201.55. Volume was 253 per cent above aver- POL closed up 3.16 at 321.71. Volume was 176 per cent above average Bollinger Bands were 34 per cent wider than normal.
Bollinger Bands were 41 per cent wider than normal.
age (trending) and Bollinger Bands were 31 per cent wider than normal.
(trending) and Bollinger Bands were 38 per cent wider than normal.
NML is currently 32.2 per cent above its 200-day moving average and is NBP is currently 14.5 per cent above its 200-day moving average and is ENGRO is currently 8.7 per cent above its 200-day moving average and is POL is currently 33.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into POL (mildly bullish). Trend forecasting oscillators are currently bullish on NML. Momentum oscillator is cur- ing oscillators are currently bullish on NBP. Momentum oscillator is current- reflect moderate flows of volume into ENGRO (mildly bullish). Trend fore- ing oscillators are currently bullish on POL. Momentum oscillator is currentdisplaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is relatively normal as compared to
the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NML (mildly bullish). Trend forecast- reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-
rently indicating that NML is currently in an overbought condition.
ly indicating that NBP is currently in an overbought condition.
casting oscillators are currently bullish on ENGRO.
ly indicating that POL is currently in an overbought condition.
Adamjee Insurance Al-Abbas Cement Allied Bank Limited Arif Habib Corp Arif Habib Limited Askari Bank Attock Cement Attock Petroleum Attock Refinery Azgard Nine Bank Al-Falah Bank.Of.Punjab BankIslami Pak D.G.K.Cement Dewan Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Fauji Cement Fauji Fert Bin Fauji Fertilizer Faysal Bank Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Jah Siddiq Co Japan Power JS Bank Ltd K.E.S.C Kot Addu Power Lotte Pakistan Lucky Cement Maple Leaf Cement MCB Bank Ltd National Bank Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat (Chunian) Nishat Mills Oil & Gas Dev. XD P.I.A.C.(A) P.S.O. XD P.T.C.L.A PACE (Pakistan) Ltd. Pak Oilfields Pak Petroleum Pak Suzuki Pervez Ahmed Sec Pioneer Cement Shell Pakistan Sitara Peroxide Sui North Gas Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 60.87 88.10 87.25 52.71 3.20 3.05 73.08 71.45 71.05 62.25 26.05 25.50 48.40 25.70 25.40 61.79 17.30 16.90 49.97 62.25 61.65 68.26 341.10 338.60 64.73 128.80 126.95 40.17 9.50 9.40 58.91 11.00 10.95 54.35 9.80 9.70 73.13 3.90 3.80 55.31 30.00 29.50 51.71 2.15 2.10 60.89 3.20 3.15 39.47 2.60 2.55 42.15 42.10 41.55 45.91 73.55 72.65 64.10 198.00 194.40 47.72 4.95 4.85 68.17 37.35 36.20 76.21 130.55 128.95 53.90 15.10 14.95 67.56 124.45 123.90 66.04 37.85 37.65 69.05 149.10 147.85 57.89 256.05 252.75 51.46 3.95 3.90 44.21 10.95 10.85 50.87 1.65 1.60 39.48 2.40 2.35 65.52 3.05 2.95 71.65 42.40 42.05 73.09 14.60 14.50 49.16 74.80 74.50 44.29 2.80 2.75 60.87 223.85 221.75 71.22 77.10 76.50 69.21 19.90 19.60 61.76 3.00 2.85 56.34 1.90 1.80 60.01 23.40 23.20 71.53 66.85 65.55 80.69 178.15 175.60 54.46 2.35 2.30 63.03 293.90 291.20 54.12 19.15 18.85 29.52 2.35 2.25 78.67 316.90 312.05 72.55 223.15 220.60 55.46 71.20 70.35 44.02 2.00 1.95 51.88 6.90 6.85 56.63 205.95 204.95 46.15 13.00 12.90 48.79 27.35 27.20 52.82 21.70 21.50 42.08 2.15 2.10 26.61 3.25 3.15 61.21 66.35 65.60 45.40 2.65 2.55
1st
2nd
Resistance 89.80 90.65 3.50 3.60 72.15 72.45 27.00 27.40 26.40 26.75 18.05 18.35 63.15 63.45 346.55 349.50 132.10 133.55 9.75 9.90 11.30 11.45 10.10 10.30 4.15 4.25 30.80 31.10 2.35 2.45 3.40 3.45 2.70 2.75 43.35 44.05 75.15 75.85 204.15 206.80 5.10 5.20 39.20 40.00 133.30 134.45 15.45 15.70 125.80 126.60 38.30 38.60 152.05 153.75 264.30 269.25 4.15 4.25 11.20 11.35 1.75 1.80 2.50 2.60 3.30 3.45 43.25 43.75 14.90 15.10 75.50 75.90 2.95 3.00 228.05 230.10 78.30 78.90 20.40 20.60 3.30 3.45 2.20 2.35 24.00 24.35 69.15 70.10 182.10 183.50 2.50 2.55 299.35 302.10 19.75 20.05 2.60 2.75 324.65 327.60 228.15 230.60 72.65 73.25 2.15 2.20 7.05 7.10 207.95 208.95 13.35 13.55 27.70 27.90 22.15 22.40 2.25 2.30 3.45 3.55 67.75 68.40 2.80 2.85
Pivot 88.95 3.30 71.75 26.45 26.10 17.60 62.55 344.05 130.25 9.65 11.20 10.00 4.05 30.30 2.25 3.30 2.65 42.80 74.25 200.60 5.05 38.10 131.70 15.30 125.25 38.10 150.80 261.00 4.05 11.10 1.70 2.45 3.20 42.90 14.80 75.20 2.90 225.95 77.70 20.10 3.15 2.05 23.80 67.80 179.55 2.45 296.65 19.45 2.50 319.85 225.60 71.80 2.05 7.00 206.95 13.20 27.55 21.95 2.20 3.35 67.00 2.70
8
Saturday, January 8, 2011
Cage in crusade thriller
N
MUMBAI: Bollywood star Sunny Deol and Dharmendra attend a press conference as part of the launch of their forthcoming movie 'Yamla Pagla Deewana'.-Reuters
2011 looks to be Aamir Khan’s year 2011 is expected to see Aamir Khan dominate the silver screen as the actor-producer has two of his home productions lined up for release in the first half while his other ventures starring Rani Mukherji and Kareena Kapoor is slated to hit the screens in the later part. Aamir Khan Productions' Dhobi Ghat which marks the directorial debut of his wife Kiran Rao releases on January 21. This weekend is extremely special for Aamir as it is this day that 'Rang De Basanti' released. Starring Aamir Khan, Prateik, Monica Dogra and Kriti Malhotra, Dhobi Ghat (Mumbai Diaries) is the quiet and stirring story of four characters bound together as they go through a journey of longing, loneliness, love and loss. Aamir's Delhi Belly will release in summer. Starring Imran Khan, Vir Das, Kunal Roy Kapur and Shehnaz Treasurywala, it is directed by debutant Abhinay Deo. Delhi Belly is Aamir Khan Productions first English film and the actor who launched Imran in Jaane Tu Ya Jaane Na, come back with Delhi Belly. Aamir's next, an untitled venture directed by Reema Kagti marks the coming together of the Dil Chahta Hai team, with Aamir Khan, Farhan Akhtar and Ritesh
Siddhwani. The film is a suspense thriller and one of the most awaited films of the year 2011, with audiences and Bollywood alike, awaiting, to see Aamir's next especially since his last two movies 3 Idiots and Ghajini were the biggest hits of recent times. The Aamir-Rani-Kareena starrer goes on floors in February 2011 and releases the same year. For Abhishek Bachchan who had a disastrous Raavan and Khelein Hum Jee Jaan Se in 2010, the new year will be a challenge with Excel Entertainment's Game hitting the screens on March 18 and Fox Star Studio's Dum Maro Dum releasing on April 22 where he plays a narcotics cop from Goa. Director Rohan Sippy says DMD is an edgy, coming of age, cop caper, with Goa playing a full-fledged character, and has lot of thriller elements thrown in. Apart from Abhishek, Bipasha Basu and Rana Daggubati play important roles. Game will be debutante director Abhinay Deo's second movie after Delhi Belly. He says the film is an edge of the seat thriller with jaw dropping action sequences. Filmed extensively in Greece, Abhishek is paired opposite Sarah Jane.
Vidhu Vinod Chopra's next Ferrari Ki Sawaari starring Sharman Joshi is directed by debutante Rajesh Mapuskar, a protege of Rajkumar Hirani. Hirani is currently busy scripting the film which goes on floors in March and releases later this year. Patiala House will be Akshay Kumar's first release of 2011 on February 11. The movie has an eclectic cast, that boasts of a huge household. Leading the pack are Akshay Kumar, Anushka Sharma, Rishi Kapoor, Dimple Kapadia, Hard Kaur and Soni Razdan. Directed by Nikhil Advani, 'Patiala House' is about a family that is still ruled over by the head patriarch, and have all three generations living together. Reliance Pictures's releases this year include Double Dhamaal, Don 2, Bodyguard and remake of Tamil film Singum to be directed by Rohit Shetty and Ajay Devgn. Double Dhamaal starring Sanjay Dutt, Arshad Warsi, Riteish Deshmukh, Javed Jaffry, Mallika Sherawat, Kangana Ranaut and Ashish Chowdhary is directed by Indra Kumar and a sequel to Dhamaal. Tigmanshu Dhulia's thriller tentatively titled Shagird starring Nana Patekar, Rimi Sen and Mohit Ahlawat releases in February-March 2011.
icolas Cage is working hard because he has to, but his latest turn as a mediaeval knight in "Season of the Witch" is about more than just paying the bills -- it is a welcome throwback to his childhood. The supernatural thriller set in plague-stricken 14th century Europe opens in British and U.S. theatres on Friday, and Cage fans will see the "Leaving Las Vegas" star in the unfamiliar surroundings of a period drama. "For some reason I kind of got swept up in a certain
Star Screen Awards 2011
Salman, Vidya win top honours
S
alman Khan not only rocked the box office with his blockbuster "Dabangg" but also triumphed at the 17th Annual Star Screen Awards by bagging the best actor trophy for the actioncomedy. Vidya Balan walked away with best actress award for her bold and critically appreciated performance in Vishal Bhardwaj's "Ishqiya". Overall, "Dabangg" bagged six awards, including best music (Sajid-Wajid), best new talent in music (Mamta Sharma), most promising newcomer (Sonakshi Sinha), best choreography ( Farah Khan )), and best action (Master Vijayan) and emerged as the most awarded film of the evening. However, the surprise element was the tie between "Ishqiya", "Band Baaja Baraat" and small budget film "Udaan" - all three received four awards each. "Ishqiya" also won best supporting actor for Arshad Warsi, modern and contemporary best male playback singer for Rahat Fateh Ali Khan and best style of acting and drama, like 'Bad Lieutenant'," the 46-year-old Oscar winner told Reuters in a recent interview to discuss the film. Season of the Witch follows "Bad Lieutenant: Port of Call New Orleans," f kissing for the cameras Werner Herzog's cop drama was Rani Mukerji and in which Cage plays the kind Vidya Balan's prelude to of emotionally intense, bor- show that all is well between derline unhinged character the two reported warring cofor which he has won most stars of No One Killed Jessica acclaim. (NOKJ), on the premiere night "This (Season of the Witch) they made sure that they rubwas my first chance to really bished any gossip that might be go into the source, the child- floating in the air by choosing hood. to dress up in identical colours. "When I was living in Amitabh Bachchan looked California ... my father built dapper in white and Rekha this wooden castle for me as sported her shades at night! a boy and I remember I realVidya was seen introducing ly got in touch with my imag- newcomer Myra Kam as her ination there -- I was a sor- sister. Kalki Koechlin looked cerer or I was a knight and stunning in a sari, but the babe because of the castle ... my of the night was Sophie mind would automatically go Choudry looking sassy in her toward mediaeval things." blue ensemble. Another reason for taking Randeep Hooda was spotted on the role of the war-weary after a long time. Tisca Chopra, Crusader Behmen was a Divya Dutta, Aarti Chhabria, change of scenery from the Shazahn Padamsee (her lips are stifling Louisiana interiors of pouting more these days, Bad Lieutenant. Season of wink!) with Alyque Padamsee the Witch took the cast and were all welcomed by Rani and crew to Hungary and the Vidya as Ronnie Screwvala made sure the event was a hit! Austrian Alps.
lyricist for Gulzar. "Udaan" was the winner in categories like best film, best director for Vikramaditya Motwane and best actor in negative role for Ronit Roy and best child artiste for Ayaan Barodia. "Band Baaja Baraat" grabbed most promising male newcomer for Ranveer Singh, most promising debut director for Maneesh Sharma, best dialogue for Habib Faisal and best editing for Namrata Rao. Apart from this, the popular choices awards were bagged by Shah Rukh Khan and Katrina Kaif for best actor and best actress respectively. Ramnath Goenka Memorial Award was bestowed upon "My Name Is Khan" and a special jury award for spectacular cutting-edge technology was given to "Robot" at the gala event Friday evening.
NOKJ screening in Mumbai
I
Yash Chopra too came to support Rani (to be bahu soon, isn't that the gossip?). Raju Hirani, Rakeysh Omprakash Mehra, Pradeep Sarkar, Subhash Ghai, Sudhir Mishra with Arunoday Singh, Kumar Taurani represented the filmmakers community. Parvin Dabas walked in with Preeti Jhangiani. Anjana Sukhani was like Alice in Wonderland. Lost and also got her look all wrong from hairband to her shoes. Missing school are we Anjana? Admissions open in June!
Fantasy movies’ magic in 2010 F
screen in live action to make Rs.28 crore. While Jake Gyllenhaal took centrestage as Prince Dastan, Gemma Arterton enacted the lovely Princess Tamina and the very own Sir Ben Kingsley donned the evil Nizam's robe to conquer time. 4. "The Chronicles of Narnia: Voyage of the Dawn Treader ": It was
antasy, fantasy and more fantasy - Indian audiences swooned to the Hollywood mojo in 2010 thanks to their penchant for out-ofthe-world experiences with a dash of action. Below is the list of top imports that grossed their way to success in 2010: 1. "Inception" : Mindbender - one word that aptly describes the sci-fi entertainer that took the world by
storm and why not when it comes from a mind that is equally complex yet brilliant - Christopher Nolan. Watch it once, twice, thrice before you shake your head in frenzy and succumb to the masterpiece. With Leonardo DiCaprio in the lead, it raked in Rs.33 crore in India across four languages - English, Hindi, Tamil and Telugu. 2. "Harry Potter and the Deathly Hallows: Part I": The penultimate sequel to one of the most successful
wizard franchises the world has seen. With an established fan base that is outnumbered with every new sequel, this one was sure to draw footfall. Released across English, Hindi, Tamil and Telugu, it grossed Rs.30 crore (about $6.6 million). 3. "Prince of Persia: The Sands of Time": Remember the after-school timepass video game of the same name? Well, this big screen retelling brought out the sword-and-sorcery action from the blurry computer
another epic 3D fantasy-adventure that had kids transported to their bedtime story world. Hitting the Indian screens in four languages a week before its worldwide release, it didn't take time to make Rs.23 crore and is still running. 5. "Clash of the Titans": You saw him as an "Avatar" before he became a part-human part-android Marcus Wright in "Terminator Salvation." And this one just required you to wear a pair of 3D glasses to see Sam Worthington as a demi-god. A remake of the 1981 film of the same name,
the Greek fantasy-adventure cashed in Rs.22 crore. 6. "Salt": Confess it, you will watch whatever she does and this one had to be seen as Angelina The Jolie was
going to jump flyovers and assassinate political bigwigs in her secret mission as a blonde Russian sleeper agent Evelyn Salt in the US. A female spin to the "Mission: Impossible" series, it did make one fall in love with the beauty again. For the collections, how does it matter even if it made Rs.16.5 crore? 7. "Knight and Day": Tom Cruise just won't stop playing a spy. No. Even if it means drifting to an outing with the now rapidly aging Cameron Diaz before buckling up for his fourth "Mission: Impossible" movie. Having released in English and Hindi, the action-adenture earned Rs.16 crore only because of its 'associative' value - after all it was a Bollywood film with Hollywood stars!
8. "Iron Man 2": Robert Downey, Jr., Gwyneth Paltrow and the comeback kid Mickey Rourke. Man, what else does one need in a metal clanking superhero flick? The answer is Scarlett Johansson as an undercover spy in body hugging leather suit! Not quite living up to its buzz, the movie managed Rs.15.5 crore leaving audiences wanting for much and for more. 9. "The Karate Kid": Star sons don't work in Bollywood alone. They do in Hollywood too and how! If his father Will Smith has been voted as the most dependable star, the son in his lanky meek form is no less. Cute as per his 12-year-old looks, intelligent and lethal courtesy a trainer like Jackie Chan and with acting chromosomes overlapped across his DNA, Jaden Smith did what veterans could not command an ovation. A reboot of the 1984 film by the same name, don't go by the earnings of this one which was a modest Rs.13.5 crore. Go by the name! 10. "Resident Evil: Afterlife"/" The A-Team ": Breaking into a tie with Rs.11.5 Crore each, the two didn't lag behind in making a mark in the Indian terrain. "Afterlife", the fourth part in the sci-fi action series, saw Milla Jovovich in a mission to save humanity from a virus with her numerous clones while "The A-Team", an action outing, was simply a boy's delight with cigars, guns and panache.
I have broken the size-zero mould, says Sonakshi
T
he trend of having size zero figures and surf board abs is fast witnessing a decline in bollywood. Thanks to Sonakshi Sinha's look in her debut film Dabangg, the Indian woman with her curvaceous, well rounded and voluptuous look is in vogue again. Though her rustic, Indian attired look was never designed to unleash a fashion coup, but eventually it has done so. Gone are the days when size zero was the standard evaluation of a heroines total worth, Sonakshi Sinha seems to have undone that trend. And the actress has no qualms about taking credit for this new trend. Speaking about bringing the Indian woman back as an ideal sex symbol, Sonakshi says, "People have told me they are happy that the full-figured Indian heroine is back. I have broken the size zero mould. I don't agree with the concept of being stick thin. At the end of the day, Indian men want women who are well-rounded, voluptuous and curvaceous, someone they can hold."
Jolie, Pitt donate $2mn to African wildlife Angelina Jolie and Brad Pitt are donating $2 million to the Namibian sanctuary where they spent Christmas with their kids. The donation to the Naankuse Lodge and Wildlife Sanctuary was made through the Jolie-Pitt Foundation in the name of their daughter Shiloh, who was born in Namibia. In a statement released Monday, Angelina said "We want her to be very involved and grow up with the understanding of her country of birth." Angelina said the owners of the sanctuary are old friends. "We continue to be impressed by their hard work and dedication to the people and conservation of the land and wildlife of Namibia," she said. The family spent Christmas together at the lodge, where staff say the children helped to feed and care for orphaned baby baboons and foxes and saw a leopard released back into the wild.
Thai action guru for Salman starrer Bhushan Kumar's Ready promises action and entertainment. The makers have roped in world renowned Thai action director Seelum Pradit aka Nung who has earned laurels internationally thanks to his work in Mountain Tiger, Treasure Island, Rescue Dawn, The Magnificient Five and Marine 2 to work on the film starring Salman Khan. Along with Indian action director Mahendra Verma the Thai action team, spearheaded by Seelum Pradit, are working towards achieving international levels of action sequences. Says a source "The Thai action team are experts in rigging, flying effects and High End stunts. They also understand the Indian sensibilities and the kind of action that would appeal to our masses since Pradit has also worked on the Thumps Up ads. Salman fans are in for a treat since they will witness him in a unique action avatar on par international standards."
9
Saturday, January 8, 2011
US crude rises above $89, Bernanke testifies US Dec jobless rate falls, job creation below forecasts LONDON: US crude oil futures rose above $89 a barrel in volatile trade on Friday as the Federal Reserve Chairman Ben Bernanke made cautiously optimistic comments about a recovery, after data showed US unemployment rate fell. "We have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold," the central bank chief said in his first testimony to Congress since the Fed launched a controversial plan to buy an additional $600 billion in government bonds. The remarks followed data showing the US labour market created 103,000 new jobs in December, below analysts' forecasts for 175,000. US crude futures rose 74 cents to $89.12 a barrel by 1510 GMT, after reversing losses that followed the jobs data. "The employment data is disappointing, especially in light of the enthusiasm that emerged earlier in the week on
Tokyo rubber dips from record high BANGKOK: Tokyo rubber futures hit another record high on Friday but then ended the day lower as investors liquidated contracts to take profits ahead of the weekend, but thin physical supply still provided solid support, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery fell 5.1 yen to settle at 435.1 yen ($5.22) per kg. It rose earlier to a record high of 442.9 yen before profit-taking set in. Asian physical rubber prices rose further on Friday, with benchmark Thai RSS3 offered at a record high of $5.30 per kg, supported by strong demand at a time when supply remains limited, dealers said. Dealers said that, after the modest correction on Friday, TOCOM rubber prices could rise again next week because of thin supply and relatively firm oil prices. -Reuters
the ADP employment data," John Kilduff, partner at Again Capital LLC in New York said. "However, the decided downtick in the unemployment rate is reassuring. In terms of energy prices, more robust employment gains are necessary to sustain the price levels seen of late. Unemployment
remains at a level that will challenge the ability of $3.00plus per gallon gasoline to persist," he added. In a rare market move, the price of Brent and US crude futures went in opposite directions during the trading session. February Brent crude contracts were 35 cents up at $94.17 a barrel by 1512 GMT, having tested highs of $96.17 a barrel during a rally this week on the back of index rebalancing.
Analysts said the price differential between Brent and US crude contracts -- also known as West Texas Intermediate (WTI) -remained exceptionally high and should tighten over the coming weeks. "It seems WTI prices have found a bottom, and the huge price differential between Brent and WTI, the highest since 2009, looks excess i v e , " Commerzbank analyst Carsten Fritsch said. "The price differential should narrow, meaning Brent should decline and WTI increase somewhat in the coming weeks." US crude prices have had a turbulent first week of the year, seesawing in a range of almost $5 between 27-month highs of $92.58 a barrel on Monday and lows of $88.38 on Thursday. Brent's premium over US crude was at $5.14 per barrel by 1446 GMT, down slightly from a seven-month high on Thursday. -Reuters
Palm eases, tracks soy complex; data eyed KUALA LUMPUR: Malaysia's crude palm oil futures hit one-week lows on Friday as traders squared profits amid losses in the overseas soy complex, although worries over a supply shortage continued to weigh. Palm oil rallied to 33-month highs earlier in the week as heavier-than-usual rains stalled harvesting in top producers Indonesia and Malaysia, while dry weather slowed soy planting in South America, raising concern over tight supplies. The benchmark March 2011 crude palm oil contract on Bursa Malaysia Derivatives fell as much as 2.7 per cent to settle at 3,761 ringgit ($1,224.483) a tonne -- a level unseen since Dec. 30, 2010. Overall traded volume doubled to 30,156 lots of 25 tonnes each.
"The market is likely to be stable until early March due to an Indian festival later in this month and Chinese New Year in early February," said a trader in Kuala Lumpur. He added, "It's a short term fall as production in January could be hit further by rainfall in plantations in east coast and Sabah in Borneo island." Traders are also on the watchout for official data from industry regulator, Malaysia Palm Oil Board, on Monday. A Reuters poll showed Malaysian palm oil stocks fell to a five-month low as overseas demand outpaced sluggish output. US soyoil for January delivery fell 0.8 per cent in Asian trade hours, while the most active Sept. 2011 soyoil contract on China's Dalian Exchange fell 0.7 per cent. Reuters
Copper eases on USD after American jobs data LONDON: Copper eased but still recovered from two-week lows on Friday, supported by a weaker dollar and expectations of stronger demand this year from top consumer China and other industrial markets. Benchmark copper on the London Metal Exchange closed at $9,425 a tonne, compared with $9,470 at Thursday's close. The metal used in power and construction had earlier fallen to $9,300 an ounce, its lowest since Dec. 24, on talk of tighter monetary policy in China and the United States and a stronger dollar. But it recouped losses after a US report showed weaker-thanexpected jobs growth. Copper initially extended losses after the data but then pared them back as the euro recovered from a near fourmonth low against the dollar. Earlier in the week the dollar strengthened after a report showed strong growth in private sector job creation and triggered speculation of tighter monetary policy in the United States, the world's largest economy. Also weighing on copper
was the prospect of commodity index rebalancing, which could see large sales of copper after gains of more than
Shanghai copper dulls Shanghai copper dropped 3 per cent on talk that China may be preparing to tighten monetary policy shortly. Shanghai copper fell by 2,110 yuan to 69,500 yuan, while zinc dropped as much as 5 per cent before paring losses to trade at 18,910 yuan at the close, down by 3.7 per cent. 30 per cent last year. The Dow Jones-UBS Commodity Index and Standard & Poor's S&P GSCI index, tracked by funds with about $160 billion in combined assets under management according to figures from Mitsubishi Corp, will rebalance to new weights Jan. 7-13. "This may only have a tem-
porary effect, but it does add to the negativity," an LME floor trader said. He added that rising stocks in LME warehouses were on the radar, "but the focus is still on the large drop last year". Stocks of copper in London Metal Exchange warehouses at 379,525 tonnes are down more than 30 per cent since the middle of February. But since Dec. 9, they have increased by more than 8 per cent. Battery material lead closed at $2,649 a tonne from $2,656 a tonne at the close on Thursday, when the battery material touched $2,712.75 a tonne, its highest since May 2008 on concern about supplies from Australia. Aluminium closed flat at $2,518 a tonne. Zinc was at $2,445 a tonne from $2,455, tin was at $26,450 from $26,180 and nickel closed at $24,200 from $24,550 on Thursday. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 06 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 06 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2300 2305 2255 2265 2210 2220 2210 2220
2469.5 2470 2479 2480 2538 2543 2573 2578
9590 2702 9591 2703 9571 2676 9572 2676.5 9285 2590 9295 2595 8865 2543 8875 2548
24870 24875 24855 24860 24360 24460 23585 23685
TIN
ZINC NASAAC
26645 2445 26650 2446 26590 2452 26595 2452.5 26075 2470 26125 2475 2442 2447
2370 2380 2380 2390 2405 2415 2460 2470
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 1051.00-4.00, Aug11/Oct11 1053.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 1105.00+0.00, May11/Jul11 1085.00-5.00, Aug11/Oct11 1008.00-7.00, Nov11/Jan12 1015.00-5.00, Feb12/Apr12 1020.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1490.00-20.00, Apr11/Jun11 1460.00-10.00, Jul11/Sep11 1490.00-10.00, Oct11/Dec11 1380.00-20.00. LINOIL: Any origin dlrs tonne extank Rotterdam Jan11/Feb11 1340.00-15.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1280.00-15.00, Feb11 1285.0015.00, Mar11 1275.00-15.00, Apr11/Jun11 1255.00-15.00. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1287.50, Mar11 1287.50, Apr11/Jun11 1277.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1242.5022.50, Mar11 1242.50-22.50, Apr11/Jun11 1232.50-20.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1255.00-20.00, Mar11 1252.50-22.50, Apr11/Jun11 1240.00-22.50, Jul11/Sep11 1222.50-22.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 1880.00-20.00, Feb11/Mar11 1860.00-30.00, Mar11/Apr11 1850.00-30.00, Apr11/May11 1840.00-30.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1995.00+0.00. Reuters
India sugar drops for 4th day MUMBAI: Indian sugar prices continued their losing streak for a fourth consecutive day on Friday on subdued demand, and higher supplies coupled with a drop in overseas markets that depressed sentiments further, dealers said. "Sharp drop in overseas markets hurt sentiment. Lower international prices will cut Indian exporter's profit," said a member of the Bombay Sugar Merchants Association (BSMA). New York March raw sugar slumped 6.1 per cent to close at 30.24 cents per lb on Thursday, while London March white sugar finished down $27.70 at $748.20 per tonne. India has allowed open general licence exports of 500,000 tonnes of sugar and the registration for the quantity has already begun. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety eased 0.25 per cent to 2,804 rupees ($61.76) per 100 kg. At 4:29 pm, the most-traded M grade sugar contract for January delivery on India's National Commodity and Derivatives Exchange (NCDEX) was 1.14 per cent lower at 2,864 rupees per 100 kg, after hitting a contract low of 2,861 rupees earlier in the day. -Reuters
ALJUSTREL - PORTUGAL: Miners prepare holes for explosives inside the copper mine of Aljustrel. The mine, closed for years, was reopened in the summer in light of increasing copper prices. -Reuters
Gold goes higher as dollar retreats LONDON: Gold swung into positive territory, recovering from the six-week low it hit earlier on Friday, after a key US payrolls report missed expectations, sparking a retreat in the dollar. Spot gold was bid at $1,376.55 an ounce at 1605 GMT against $1,371.15 late in New York on Thursday, having earlier touched a low of $1,352.30 an ounce, its weakest since Nov. 26. The precious metal has recorded some hefty losses this week,
their biggest weekly loss since July last year, after a raft of better-than-expected US data this week. Elsewhere the head of the Bombay Bullion Association told Reuters on Friday that gold imports to India, the world's largest consumer, are likely to jump 64 per cent to 500-550 tonnes in 2011, driven by investment purchases. Gold-backed exchange-traded funds continued to see outflows, with holdings of the largest, New York's SPDR Gold Trust, falling
but in the absence of a rising dollar it remains underpinned by uncertainty over the US recovery, the prospect of inflation in emerging markets, and concern over euro-zone sovereign debt. "We still think there is support for gold out there," said David Wilson, an analyst at Societe Generale. "There is a perception of growing inflationary pressure into next year, which should remain supportive of gold." "Our FX (team) are still expecting a weaker trend in the dollar to return, which again should be supportive for gold," he added. US gold futures for February delivery rose $5.40 an ounce to $1,377.10. Notwithstanding a further rise, gold prices are still heading for
to a seven-month low on Thursday. In supply news, China, the world's biggest gold producer, said its output of the metal rose more than 9 per cent in the first eleven months of 2010 from the year before, and was expected to top a record 340 tonnes in the full year. Silver firmed to $29.09 an ounce from $29.04, having earlier hit its lowest since midDecember at $28.30 an ounce. Holdings in the world's largest silver-backed ETF, the iShares Silver Trust, fell to 10,892.87 tonnes on Jan 6 from 10,917.19 tonnes a day before. Platinum was at $1,733.80 an ounce against $1,729, while palladium was at $756.70 against $758.50. -Reuters
Sugar surges on trade, fund buying LONDON: Raw sugar futures on ICE rose sharply on Friday on trade and fund buying but remained well short of last week's 30-year peak in volatile trading. Prices had eased early in the session but suddenly surged in a trade-led rally. March raws rebounded from a low of 29.58 cents to a peak of 32.10 cents and at 1640 GMT stood 1.25 cents or 4.1 per cent higher at 31.49 cents a lb. The front month contract had suffered a steep correction from last week's 30-year peak of 34.77 cents and tested the key support band of 29.50 to 30.00 cents before rallying. White sugar futures on Liffe were also higher with March up $23.80 or 3.2 per cent at $772.00 a tonne. Cocoa futures rose with the market beginning to creep back up again after prices in London slid to a threeweek low earlier this week. May cocoa on Liffe stood 3 pounds higher at 1,936 pounds a tonne, holding above Wednesday's low of 1,921 pounds but far below a peak of 2,094 pounds hit in early December on post-election turmoil in Ivory Coast. May cocoa on ICE rose $19 to $2,871 a tonne. Coffee futures were marginally lower with the recent uptrend in the dollar helping to keep a lid on prices. May arabicas on ICE eased 0.30 cent or 0.1 per cent to $2.3435 per lb while March robustas on Liffe fell $9 to $2,020 a tonne. -Reuters
US cotton ends down by 3pc in choppy trade NEW YORK: US cotton ended down about 3 per cent on Thursday, after rising by almost the daily limit on speculative buying before falling as much on selling related to a rebalancing of cotton holdings by commodity indexes. 'It was an interesting day in cotton where we traveled over nine handles,' Mike Stevens, an independent cotton analyst in Mandeville, Louisiana, said, using market jargon to describe the volatile session. Benchmark March cotton contracts on ICE Futures US closed down 3.98 cents, or 2.7 per cent, at $1.4122 per lb.
The contract neared its fourcent trading limit to set a oneweek peak at $1.4909. In later trading, it fell almost four cents to hit a session low of $1.4120. Stevens attributed the choppy session partly to a mixed reading of latest weekly export data for cotton, which showed a net drop in sales. Index funds will be paring risk from cotton and other overly-weighted agriculture markets and adding exposure to natural gas and crude oil under the rebalancing which runs between this week and next. Investment bank JPMorgan Chase has estimated that nearly
14,000 cotton contracts could be offloaded under the exercise, putting immediate pressure on cotton despite its strong fundamentals over the longer term. Another but smaller bearish factor for prices on Thursday was the announcement by CME Group that it will raise from Friday margins for cotton trading on the Chicago Board of Trade -- a cotton market far less less liquid than the one on ICE. Some traders think the liquidation pressure over the next fortnight could take ICE's benchmark March cotton to below the key $1.30 mark. Reuters
National Commodity Exchange Ltd Trading Summary Date
7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011 7-Jan-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
FE11 MA11 AP11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 JA11 FE11 MA11 JA11 FE11 JA11 JA11 MON TUE WED THU FRI MON TUE WED THU FRI 13JA11 JA11 JA11 11-Mar 11-Jun
US$ 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
89.90 91.25 91.50 29.02 29.05 1370.00 1371.10 1372.00 1369.00 1370.80 1371.70 37785.00 37800.00 37874.00 37823.00 37832.00 44116.00 44116.00 38896.00 38939.00 38953.00 38967.00 38882.00 45000.00 45200.00 44814.00 45025.00 44773.00 3380.00 3393.00 5371.00 86.21 85.32
90.17 91.34 92.31 29.40 29.05 1376.50 1378.00 1378.00 1375.30 1370.80 1371.70 37851.00 37860.00 37874.00 37823.00 37832.00 44116.00 44116.00 38896.00 38939.00 38953.00 38967.00 38882.00 45000.00 45200.00 44814.00 45025.00 44773.00 3387.00 3393.00 5371.00 86.22 85.32
87.90 89.27 91.50 28.35 28.50 1357.00 1358.00 1358.70 1358.70 1359.40 1359.40 37502.00 37550.00 37600.00 37549.00 37558.00 43797.00 43797.00 38606.00 38648.00 38661.00 38675.00 38689.00 44363.00 44411.00 44426.00 44442.00 44458.00 3380.00 3392.00 5244.00 86.21 85.32
88.95 90.10 91.02 28.48 28.50 1358.50 1359.40 1360.30 1358.50 1359.40 1359.40 37577.00 37586.00 37600.00 37549.00 37558.00 43797.00 43797.00 38606.00 38648.00 38661.00 38675.00 38689.00 44363.00 44411.00 44426.00 44442.00 44458.00 3387.00 3392.00 5244.00 86.22 85.32
Traded Volume in lots 427 91 1 385 1,530 2,167 1,932 20 8 9 4 6 1 15 2 -
Previous Settlement Price 88.54 89.81 90.85 28.92 28.94 1368.20 1369.00 1369.90 1368.20 1369.00 1369.90 37793.00 37802.00 37816.00 37765.00 37774.00 44048.00 44048.00 38824.00 38866.00 38880.00 38894.00 38908.00 44618.00 44666.00 44682.00 44698.00 44714.00 3380.00 3393.00 5371.00 86.21 85.32
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 88.95 92 90.10 34 91.02 4 28.48 112 28.50 1358.50 1,379 1359.40 2,377 1360.30 1,316 1358.50 10 1359.40 1360.30 37577.00 31 37586.00 23 37600.00 1 37549.00 2 37558.00 43797.00 43797.00 38606.00 38648.00 38661.00 38675.00 38689.00 44363.00 12 44411.00 8 44426.00 5 44442.00 17 44458.00 1 3387.00 3392.00 5244.00 86.22 85.32 -
A little girl is held by her father at the Qatar Open tennis tournament in Doha
10
Saturday, January 8, 2011
Eng bowling coach Saker signs up for more 3 years SYDNEY: The England Cricket Board has extended the contract of national bowling coach David Saker for three more years. England's announcement on Friday came after it retained the Ashes with a dominating run in Australia, with the fast bowlers playing a large role in that. Australian Saker, who joined the team management before England won the Twenty20 World Cup in April, will continue until at least 2013. The signing coincided with the last day of the series. Saker played first-class cricket in Australia for Victoria and Tasmania and coached in Victoria state. Another Australian, Troy Cooley, was the bowling coach for England when it won at home in 2005 to claim the Ashes for the first time in 16 years. Cooley has since been hired by Cricket Australia.-Online
Rogue Indonesian league facing FIFA sanctions DOHA: FIFA will take sanctions against a rogue Indonesian league if it goes ahead as expected on Saturday, world soccer's governing body said. The 19-team Indonesian Premier League (IPL) is the brainchild of oil tycoon Arifin Panigoro as a way of improving soccer in the region. However it is not recognised by the Indonesian Football Association (PSSI) or FIFA, who both support the existing Indonesian Super League (ISL). "We have not received anything official about this but we expect the (IPL) league to start playing tomorrow (Saturday)," FIFA director of member associations and development Thierry Regenass told Reuters in Doha on the eve of the Asian Cup. "We are aware of the situation and if it goes ahead it will be dealt with by FIFA's emergency committee and sanctions will be taken." The PSSI have said they would also take sanctions against the IPL's players and teams, including the three who have switched from the ISL. The other 16 teams are new. Despite soccer being hugely popular in Indonesia, the world's most populous Muslim nation, the national team are ranked 127th by FIFA and not competing in Doha. They were surprisingly beaten by Malaysia in the final of the Suzuki Cup last month. Friday's Jakarta Globe reported that 70 people demonstrated in the city in favour of the PSSI and against the IPL. "The IPL is a conspiracy, full of conflicts of interests, and its objective is to weaken the PSSI," one of the demonstrators Nur Joko told the paper. The new league, which has been backed by the sports minister, provides further embarrassment to the PSSI who were forced to withdraw a surprise bid to host the 2022 World Cup more than seven months before the vote after failing to secure government support.-Reuters
India on top in new ICC ranking
Pakistan clutches sixth slot
HONGKONG: China's Li Na returns to Venus Williams of the US during the Silver Group Ladies Final at the Tennis Classic 2011.-Reuters
Rehman hands Pakistan advantage in first test HAMILTON: Pakistan's Abdul Rehman produced a sustained, tight spell of left-arm spin bowling to take three wickets for 51 runs as New Zealand scrambled to 260 for seven at the close of play on the first day of the first test at Seddon Park on Friday. Kane Williamson was on 44 while pace bowler Tim Southee was on 56, his second test half century, after the hosts had appeared to be in control on 78-1 at lunch only for Pakistan to seize the advantage in the middle session. Williamson, the last recognised batsmen, and Southee combined for an unbroken 83-run eighth-wicket partnership to at least give New Zealand some respectability at stumps though they would be disappointed after a promising start was squandered. Rehman, who was introduced for one over in the first session, bowled five successive maidens after the lunch break and 29 overs unchanged before the second new ball was taken, tying down the normally free-
flowing New Zealand batsmen. "I expected (to be bowling on the first day) because the pitch looked quite flat and I prepared in my mind to bowl 20 to 30 overs," Rehman told reporters. "Spin on the first day is good for spinners and good for me as well. It will definitely spin on day three and day four." New Zealand lost four wickets after lunch and the visitors' momentum continued after tea when debutant wicketkeeper Reece Young was harshly adjudged lbw for 14 off Rehman, though television replays suggested the ball was missing the stumps. Captain Daniel Vettori's dismissal, however, was more definitive when he trapped by a full delivery from Tanvir Ahmed for a two-ball duck. Brendon McCullum and Martin Guptill had provided New Zealand with a promising start when they steered them to 78 for one at lunch after Tim McIntosh was caught for five by Younus Khan at second slip off Tanvir in only the second over. Reuters
Australia to review failed Ashes campaign
England’s record breaking triumph SYDNEY: England's 3-1 victory over Australia in the Ashes this winter will live long in the memory. It is also likely to have a lasting presence in the record books. Few Test series have witnessed the surpassing of quite so many significant landmarks as the one that concluded so emphatically in England's favour in Sydney on Friday. Inevitably, the majority of the records were attained by the dominant tourists, who seemingly set new benchmarks every time they took to the field. As a team, they inflicted three inningsdefeats on Australia in a home series for the first time, and recorded new highest innings totals, batting partnerships and individual scores down under, while player-of-the-series Alastair Cook was a one-man record machine. Test Match Special's South African scorer Andrew Samson - who worked overtime to bring all the many varied records and stats to listeners throughout the series - admits it has been a busy few weeks. Acting skipper Michael Clarke said
Australian cricket had hit rock-bottom after his team crashed to an unprecedented third innings defeat to England to lose their second consecutive Ashes series. Amid calls for heads to roll after Australia's inept showing, Sutherland said his organisation could not keep doing the same things and expect a better result in the next Ashes series in England in 2013. Chairman of selectors Andrew Hilditch has expressed a desire to keep selecting teams beyond the conclusion of his contract after the World Cup, which starts next month, while team coach Tim Nielsen is contracted for another three years. Pace bowling coach Troy Cooley is departing at the end of the World Cup to become head of Cricket Australia's centre of excellence in Brisbane. England bowling coach David Saker withdrew from the running as Cooley's successor on Friday, the Australian announcing he had signed a new three-year deal with the England and Wales Cricket Board. Agencies
2022 soccer WC likely to be in Jan DOHA: The 2022 World Cup in Qatar will probably be staged in January rather than June or July, FIFA president Sepp Blatter said for the first time on Friday. Speaking to a media roundtable in the Qatari capital before the opening match of the Asian Cup, he said: "I expect it will be held in the winter. "We have time to look at this question, it is still 11 years away but we must decide the most adequate period for a successful World Cup which means January or the end of the year." Summer temperatures in Qatar can soar to over 40 degrees Celsius while those in the winter months are far more comfortable. Blatter said that the Qatari football association is now responsible for organising the World Cup and they would work closely with FIFA in the years ahead to guarantee a successful tournament. "Do not forget there is still 11 years to go and although we have the basic conditions of their bid for a June and July World Cup, the FIFA executive committee is entitled to change anything that was in the bid. "When you play football you have to protect the main people, the players." When the decision was announced last month to award Qatar the 2022 finals -- the first time the event has been held in the Middle East -- many observers were concerned the intense temperatures there which can top 50 Celsius would be unbearable for players and fans alike. In January, the temperatures are usually between 20 and 30 Celsius.-Reuters
DUBAI: Third-placed England has narrowed the gap with second-ranked South Africa while India has continued to dominate the Reliance Mobile ICC Test Championship following the conclusion of Test series in Australia and South Africa. According to a press release issued here on Friday, England, which had entered the Ashes series on 112 ratings points, has jumped to 115 ratings points after its 3-1 victory over Australia. Andrew Strauss's side now trails Graeme Smith's men by just two ratings points. The Proteas, which started against India on 116 ratings points, has gained one ratings point and has moved to 117 ratings points following a one-all draw in the series which ended in Cape Town on Thursday. India though has dropped one ratings point but it continues to lead South Africa by 11 ratings as it is now on 128 ratings points. For Australia, the news is not so good and its first Ashes defeat in 24 years on home soil has meant it has dropped to fifth on the table. The defeat
has cost Australia three ratings points which has put it two points behind Sri Lanka on 107. Meanwhile, the two-Test series between New Zealand and Pakistan started in Hamilton. In the series, the Black Caps will have the opportunity to improve on its current position of number eight and rise to as high as sixth. But to make this happen, it would have to win both Tests which would put it alongside the West Indies on 85 ratings points but ahead by a fraction. Pakistan, which will drop to eighth position on 82 ratings points if it is loses both the Tests, in contrast, can earn four ratings points and rise to 92 ratings points if the results are reversed. According to new ranking, India gripped first position with 128 points, South Africa on 2nd position with 117 points, England on third position with 115 points Meanwhile Sri Lanka on 4, Australia on 5, Pakistan on 06, West Indies on 7, New Zealand on 08 and Bangladesh gripped the 9th position in the latest ranking. NNI
Clarke quits T20 after Ashes debacle SYDNEY: Distraught after the humiliating Ashes loss to England, Australia's Twenty20 captain Michael Clarke on Friday quit cricket's shortest format to revive his batting which was a major disappointment during the doomed campaign. Australia lost the Ashes 1-3 after going down by an innings and 83 runs in the fifth and final Test here on Friday. Clarke, who could not make much of an impact with his bat during the series and was criticised for being too slow in scoring, said he would look to regain the lost form by giving up Twenty20. "I'm retiring from international T20 cricket and looking back on this series my Test cricket isn't where I want it at the moment," Clarke said. "So I guess that gives me the opportunity now to focus wholly and solely on Test and oneday cricket and to use that time to play more domestic and firstclass cricket for NSW and become a better Test player. I've always said Test cricket is the ultimate for me and this gives me that opportunity," he added. Clarke captained the side here after regular skipper Ricky Ponting was ruled out due to injury. The 29-year-old
said he has not proved to be much of a success in Twenty20. "My T20 performances haven't been that great so it made my decision easier, but my main focus is to firstly become a better Test cricketer and also to help the team as the vice-captain, do whatever I can to help this team turn it around," said Clarke. "It's probably happened because of these five Test matches, probably because of my performances in these five Test matches." "T20 cricket now has brought another form of the game to Australian cricket and to world cricket. I think Australian players are looking at T20 cricket as a way of the future even if they don't want to play Test or one-day cricket," he added. Clarke said he firmly believed that he could not thrive in all three formats of the game. In 34 Twenty20s for Australia, Clarke averaged 21.21 with a strike-rate of 103.17. "I 100 percent believe, though, that everyone in the dressing room wants to play Test and one-day cricket for Australia and the guys involved in T20 and one-day cricket are stoked to be playing all three forms but their focus is definitely Test cricket. -Reuters
Beloff outlines tribunal's hearing procedure against tainted trio DUBAI: Anti-Corruption Tribunal Chairman Michael Beloff, QC, has outlined the procedure that would be adopted at the full hearing of the spot fixing case, scheduled to take place from 6 to 11 January, to adjudicate upon the 'alleged breaches of the ICC Anti-Corruption Code for Players and Player Support Personnel' by three Pakistan players- Salman Butt, Mohammad Amir and Mohammad Asif. On 2 September 2010, the ICC had charged the trio with various offences under Article 2 of the mentioned code relating to "alleged irregular behaviour during,
and in relation to, the fourth Test between England and Pakistan at Lord's." "The procedure for the hearing has been agreed by all parties and approved by me. It is designed to ensure that all parties can be satisfied that they have been given a full and fair opportunity to present their evidence and advance their submissions," an ICC media release quoted Beloff, as saying. Giving the summary of the procedure, Beloff said that the hearing would begin with the ICC making an opening statement, presenting its case against each of
the three players, and then the "players will each then be entitled to respond, in turn." "Thereafter, the ICC will present all of the evidence that it has prepared in support of the charges it has brought. That will take various forms and will include hearing from witnesses 'in person' and over the telephone," he said. "To the extent that any witness evidence is disputed by the players, they are each entitled to challenge (by cross-examination) any part of that witness evidence. Members of the tribunal will also be able to ask questions
of any witness," he added. Beloff said that the players would then, in turn, present their defence, during which "they will be required to give 'in-person' evidence before the tribunal and will be subject to cross-examination by counsel for the other players (if required) and then by the ICC." "Again, members of the tribunal will be able to ask questions of any witnesses provided by the players in support of their defence, including the players themselves," he added. Thereafter, each party shall be entitled to make a closing statement on the
issue of whether the charges should be upheld, said Beloff, adding that the tribunal will then retire to "deliberate in private" whether the charges against any of the players should be upheld. He said that if the tribunal is able to give judgment prior to the end of the day on January 11, and upholds any charges against any player, "if time allows and the tribunal concurs, the player(s) in question and the ICC will then address the tribunal on the issue of the sanction(s) (if any) that should be imposed, and any costs order that should be made." "The members of the tribu-
nal will then retire to deliberate in private on the issue of sanctions and costs. If time allows, it will then return to advise the parties verbally of any ruling on sanctions and costs. If not, it will reserve judgment," the ICC release quoted Beloff, as saying. "If the tribunal advises the parties of its decision on whether any of the charges against the players have been upheld and/or on sanctions and costs before the end of the hearing, then the ICC will publicly announce that decision, in the form directed by the tribunal," he added.-Online
US jobs growth stumbles even as jobless rate falls WASHINGTON: US employers hired fewer workers than expected in December and a surprise fall in the unemployment rate to its lowest level in more than 1-1/2 years was in part due to people giving up the search for work. The disappointing jobs growth figure reported by the Labor Department on Friday suggested the Federal Reserve would likely stay the course with its effort to support the world's biggest economy with the purchase of $600 billion in government bonds. The department's survey of non-farm employers showed payrolls increased 103,000 last month, below economists' expectations for 175,000. Private hiring rose 113,000, while government employment fell 10,000. "A very disappointing number that reinforces the idea that we're in for a long, slow jobless recovery. The Fed simply cannot relent until they see unemployment at least below 9 percent," said Brian Dolan, chief strategist at Forex.com in Bedminster, New Jersey. Tempering the disappointment, overall employment for October and November was revised to show 70,000 more job gains than previously reported. U.S. stocks opened marginally higher, while Treasury debt prices erased losses on the
data. The dollar initially slipped against the euro, but then reversed course. The unemployment rate fell to 9.4 percent, the lowest since May 2009, from 9.8 percent in November. However, the drop in the jobless rate was mixed news. A survey of households from which the unemployment rate is derived showed a big increase in employment but also a sharp decline in the labor force. Those factors combined to lead to the biggest drop in the jobless rate since April 1998. Though the labor market recovery remains very slow, the broader economy is showing signs of strengthening, with data on consumer spending and manufacturing improving. Federal Reserve Chairman Ben Bernanke, in congressional testimony prepared before the jobs data was public, sounded a slightly more optimist tone than in his last public remarks in early December. "We have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold," the central bank chief told the Senate Budget Committee, without offering a view on the future course of monetary policy. Some policymakers indicated in December they had a
"fairly high" threshold for curtailing the stimulus program. Some analysts looked at the drop in the unemployment rate as good news. However, the labor force participation rate, a measure of how many potential workers are actually in the job market, dropped to 64.3 percent, yet another fresh cycle low. "Yes, we are getting more people employed but we appear to be losing people into the woodwork -- not a good sign long term," said John Silvia, chief economist at Wells Fargo. Employment gains in December were led by the private services sector, which saw payrolls rising 115,000 after gaining 84,000 in November. Retail jobs increased 12,000 after a surprise 19,400 slump in November when retailers reported their best sales in years. Temporary hiring, seen as a harbinger of permanent employment, increased 15,900 after 31,100 in November. The goods-producing sector shed 2,000 jobs in December after losing 5,000 in November, but manufacturing payrolls rose 10,000. Construction employment fell 16,000 after slipping 2,000 in November. The average work week was steady at 34.3 hours. Average hourly earnings increased three cents in December.-Reuters
India cbank says rate pause not a full stop MUMBAI: India's central bank governor Duvvuri Subbarao said on Friday a pause in its tightening cycle should be interpreted as a comma and not a full stop, indicating further monetary policy tightening going ahead. Subbarao told a conference in New Delhi the central bank was aiming to improve transparency and would not surprise markets with unexpected actions. "While we have not surrendered our flexibility to take policy action as and when warranted, more frequent scheduling of policy reviews reduces the need for off-cycle action and thereby minimises the surprise element," Subbarao said. The central bank is due to review its monetary policy on Jan. 25 and is widely expected to raise rates by at least 25 basis points, after pausing in December, on the back of a surge in inflationary pressure. "Inside the Reserve Bank, the view was that within the policy trajectory, it did not matter if we paused briefly as long as we remained committed to the eventual outcome. "The dilemma then boiled down to communicating to the market that our action should be interpreted only as a comma and not a full stop," he told a conference on the Dilemmas in Central Bank Communication held in the capital city. The Reserve Bank of India has been the most aggressive major central bank in Asia, lifting interest rates six times last year to fight surging prices being spurred by rising food costs in an economy growing at nearly 9pc. -Reuters
CONTINUATION No #1
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International & Continuation
Friday, January 7, 2011
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telephone and the MQM leader raised national issues including price hike, unemployment, law and order, terrorism, electricity, gas, and sugar crises. On the other hand he (PM) informed him about country's economic problems and assured him that the Government will not take any decision without consultation with the allies. Syed Yousuf Raza Gilani said he invited Altaf Hussain and other political parties to bring a consensus accountability bill which should be transparent so that no one could raise a finger on it. He pointed out that there is a very little difference between accountability and victimisation of political opponents. About concerns of the MQM as far as Provincial Government was concerned, the Prime Minister said Sindh Chief Minister assured him that he will take MQM along in the decision making process. He assured on behalf of the Provincial Government that MQM Ministers would have a free hand and their complaints would be resolved immediately. He expressed the confidence that PPP and MQM would remain united in the larger national interests and play their due role. Asked about the ultimatum given by the PML-N, the Prime Minister said it would be examined at the level of the party. Raza Haroon said the MQM arrived at the decision after lengthy consultations of the Rabita Committee in London and Karachi in the larger interest of the country, for the welfare of the people and strengthening of democracy. He said they raised the concerns of the MQM with the Prime Minister in a free and frank manner who assured them for their resolution. He said the MQM decision to sit on the government benches is response to the goodwill gesture shown by the Prime Minister by visiting the MQM headquarters.
Replying to various supplementary questions in Question Hour, he said that currently under the policy, there will be one Utility Store Corporation (USC) in every union council of the country. However, he said more stores were established in urban areas. The minister said the government is trying its best to extend the facility to the far flung areas of the country, but there are certain criteria for setting up USC which include presence of a Bank or Post Office. To a question, he said that 552,000 metric tonnes sugar was supplied to 62 USC regions during January to December 2010. He said the imported sugar was being supplied to USC and its quality is up to the mark adding no comprise would be made on the same. The minister said currently, at USC outlets, sugar is being sold at Rs60 per kg and there is no proposal to increase its price. A provision for the promotion of small industry is also included in the new policy, he added.-APP
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"It has been proven that it was a puppet show of which Nawaz Sharif had categorically denied being a part of," he said. He said the PML-N's ultimatum to the government persists and if the government fails to address the issues highlighted by his party, PML-N will have no other option but remove Pakistan People's Party from Punjab government.-Agencies
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said. "We continue to work with Pakistan to see if we can reach agreement on measures that the government can put in place to put its economy on a sounder footing," Atkinson added.-Online
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it," she said. Meanwhile, a report from Lahore said that Pakistani traders have expressed disappointment over the decision of their government to put these restrictions. Continued from page 1 No #2 "Such decisions hamper trade between the two countries and promotion of exports. cause wastage of perishable goods. This is in the interest of neiHe said the government is taking all possible steps for overcom- ther the government nor traders and consumers," said Iftikhar Ali ing the load-shedding of electricity and gas which are the main Malik, vice-president of the Saarc Chamber of Commerce and factors for smooth running of industries. Industry. The traders demanded that the customs authorities at the Wagah land border clear contracted consignments of 300 trucks. Before the federal Pakistani government imposed the ban, several traders had bagged major orders from India. India's food inflation rose for the fifth straight week to the highest in more than a year this week, reinforcing fears it has spilt over to broader prices and cementing expectations of a January interest rate hike, reported PTI. But the spurt in prices of many basic foodstuffs has also raised questions over the government's ability to control price rises through monetary policy, with poor infrastructure, hoarding and supply bottlenecks contributing to stubbornly-high food inflation.-Agencies
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Pakistan government on many occasions that it must reform its economic laws and regulations, including those that affect fuel and its cost," Clinton told reporters at a joint appearance with her Japanese counterpart. US officials said Pakistan government can ill afford to increase its public expenditure after last year's catastrophic floods which have raised fears that the country cannot meet IMF targets on inflation and budget deficit levels. Mark Toner, a state department spokesman had earlier signalled US Opposition to the reversal of fuel price hikes saying that Washington had been impressing on Islamabad to keep steady on the reform process as these were important for the country's long term economic stability. "Our position is that Pakistan needs to undertake difficult economic reforms that are going to require some pain, frankly politically," he said in reply to questions about Pakistan's fuel price rollback. Islamabad's decision to rollback fuel hike could endanger its ability to receive funds under the IMF's USD 11 billion loan programme, sources said.-Online
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places having religious importance for minorities, he added. To a supplementary question, the minister said that Rs10 million was disbursed in the deserving families on the eve of Christmas. He said ownership would be given to the minorities' people living in the slums of the capital besides provision of other facilities.-APP
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the Prime Minister in taking all stakeholders and political parties on board in addressing the current situation. The President advised the Prime Minister to continue efforts aimed at seeking consensus of all political forces in addressing the urgent issues of the day. Interior Minister Rehman Malik was also present during the meeting.-Online
G20 to tackle food prices as countries reassure SEOUL: The Group of 20 leading economies have started working-level talks on the soaring food prices that are stoking fears of a repeat of the 2008 food crisis. Global food prices hit a record high last month, outstripping the levels that sparked riots in several countries in 2008, and key grains could rise further, the United Nations' food agency said this week. Policymakers' major concern is that, if unchecked, rising food prices could stoke inflation, protectionism and unrest. Hundreds of youths clashed with police in several Algerian cities including the capital on Thursday over food prices and unemployment, residents said. Rising food prices could also set back the recovery from the financial crisis by eroding consumers' disposable budgets in the fast-growing emerging economies that are leading the revival. Rhee Chang-yong, who represents South Korea at the G20, said working group talks were under way in the G20 with the aim of improving global cooperation to resolve food security problems ahead of a summit hosted by France. "France is emphasising food security. As a former host country of G20, we would like to deal with the price volatility problem thoroughly," Rhee said. French President Nicolas Sarkozy has asked the World Bank to conduct urgent research on the impact of food prices, a source familiar with the matter said. CEREAL PRICES UP IN 2010 Last year, wheat futures prices rose 47 percent, buoyed by bad weather including drought in Russia and its Black Sea neighbours. U.S. corn rose more than 50 percent and U.S. soybeans jumped 34 percent. The U.N. Food and Agriculture Organisation said in a report on Wednesday that
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sugar and meat prices were at their highest since its records began in 1990. For wheat, rice, corn and other cereals, prices were at their highest since the 2008 crisis. During that crisis, riots broke out in countries from Egypt to Haiti. Import prices jumped, forcing many countries' trade balances into a deep and costly deficit and several governments in Asia imposed export restrictions on rice. The U.N.'s World Food Programme (WFP), which was feeding some 100 million people last year, noted that cereals including rice had not hit 2008 price peaks, but that sugar and cooking oil were pushing up the food index. "We're ready to step up assistance specifically to countries that are vulnerable to these high prices, especially focusing also on risks to children," WFP spokeswoman Emilia Casella told a news briefing in Geneva. She said a fairly good harvest in a number of African countries in the past year had helped, and that reserves were higher than in the 2008 crisis while fuel prices, which affect fertiliser and the transport of food, were lower. Robert PriorWandesforde, an economist at Credit Suisse in Singapore, said food commodity prices were unlikely to rise much further, barring weather catastrophes. "The estimated global and exporting countries' stockto-use ratios of both wheat and rice are considerably higher today than in 2007-08, making shortages and drastic export bans unlikely," he said in a report. But the London-based venture capital firm Emergent Asset Management, which holds swathes of land across southern Africa, still sees much more mileage in food prices. "The world is still in denial about food prices," its chief investment officer, David Murran, told Reuters. "If you look at demograph-
ics, if you look at production, if you look at the impact of climate change, then we are only at the beginning of this." CHILLIS, RICE AND ONIONS Many countries in Asia, including India and China, have seen food inflation jump to double digit levels. China has imposed price controls to try to ensure stable prices for consumers. On Friday, Ethiopia announced similar measures. Thailand, the world's biggest rice exporter, sought to reassure the market, with Commerce Minister Porntiva Nakasai telling reporters it would maintain 2011 exports at 9 to 9.5 million tonnes after shipping 9 million in 2010. The Philippines, the world's biggest buyer of rice, said it would cut its 2011 imports by at least half, compared with record purchases in 2010, further easing concerns of a tight rice market this year. Still, the head of the National Food Authority, which overseas rice imports, said it might increase its buffer stock to cover a minimum 40 days of demand, from 30 now. A senior food official in Bangladesh said it was worried about food security and had imported 250,000 tonnes of rice from Vietnam. In Indonesia, which has the world's fourth-largest population, a fivefold rise in the price of chillies in the past year has helped drive overall inflation to near 7 percent. Farmers are operating around-the-clock patrols to protect their chilli plants and President Susilo Bambang Yudhoyono has urged households to plant chillies in their gardens. In India, where onion prices have triggered protests in the past, prices have jumped after weather damaged the crop and officials have opened talks with Pakistan about resuming imports.-Reuters
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Congress ultimately controls the Defense Department's budget, and lawmakers often block administration efforts to cut military spending that provides jobs in their home districts. But Gates said the military had to play its part in getting US finances in order. "As the biggest part of the discretionary federal budget, the Pentagon cannot presume to exempt itself from the scrutiny and pressure faced by the rest of our government," Gates said. Mitch McConnell, the top ranking Republican in the Senate, said on Thursday he believed no US government department was off-limits from belt-tightening. Other Republicans offered a swift rebuke of the plans, in a sign that the proposed cuts may not be realized despite growing pressure to rein in US government spending. "I'm not happy," House Armed Services Committee Chairman Howard McKeon told reporters. "This is a dramatic shift for a nation at war and a dangerous signal from the Commander in Chief."Reuters
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in areas where Islamic extremism breeds, and push the Army to go after the Taliban, "but for now, the priority should be its survival," the editorial said. It said that Richard Holbrooke, the veteran diplomat who served as a special policy coordinator in the region until his sudden death last month, recognized this truth. Not long before his death, the envoy argued that although the US-Pakistan relationship was one of the most complex and difficult ones he had known in his long career, the United States had no choice but to keep working at it, said the editorial. "People come up to me and say, we have got to tell the Pakistanis that they have got to do X, or else," it quoted Holbrooke, as saying in an interview with PBS''s Margaret Warner. "Well the correct answer is, ''or else what?'' . . . We have different situations, and we have to reconcile them," he added. The editorial noted that this advice of Holbrooke is "worth remembering as the administration grapples with this crisis."-Online
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what was intended. The chairman may nod to a possible short-term boost to the economy from President Barack Obama's tax cut deal with Republicans. But he might also echo his staffers' assessment that the package does not materially brighten the longer-term horizon. "It's easy and quite reasonable for him to say it's all very preliminary, and that it will be sometime before the improving trends are firmly entrenched," said Lou Crandall, chief economist at Wrightson Associates in New York. Indeed, US unemployment remains near 10 per cent and economic growth -- running at 2.6 per cent on an annualised basis at latest blush -- remains too weak to boost hiring significantly.-Reuters
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the meeting, the minister said the country would like to engage Pakistan to sort out outstanding issues. "We would like to engage Pakistan in a dialogue and there is no alternative other than talking to Pakistan and keeping them engaged thereby sorting out outstanding issues," he said. Asked about the reported confession by RSS leader Aseemanand on his role in the Samjhauta Express train blast and if India will convey it to Pakistan, he said: "All such issues are taken up with respective governments and his ministry will certainly do so". Giving a round-up of the foreign ministry for 2010, he said international terrorism has been a core foreign policy concern for India for some time now. "We have been victims of vicious kind of cross-border terror for well over two decades," he said. Apparently referring to Pakistan's Intelligence agency ISI, he said terrorism is being backed by official agencies and is being used continuously against the country as a political and economical weapon.-Online
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US aims to cut defense budget and slash troops
New economy wiz boards Obama’s ark
LAHORE: President of Pakistan Asif Ali Zardari offering prayer with the family of late governor Punjab Salman Taseer. -APP
President condoles with Taseer's family in Lhr
Zardari hymns Taseer’s blood LAHORE: President Asif Ali Zardari Friday afternoon arrived in Lahore on an unannounced visit to condole with the family of Shaheed Salman Taseer. Talking to the bereaved family of late governor at their private residence at Cavalry Ground here the President said Shaheed Salman Taseer was a great fighter in the true tradition of our political peers Shaheed Zulfikar Ali Bhutto and Shaheed Mohtarma Benazir Bhutto who followed in their footsteps and the footsteps of hundreds of party workers to martyrdom. The President said that Taseer wrote with his blood a new chapter in the history of PPP's heroic struggle against bigotry, tyranny, and obscurantism. Taseer embraced martyrdom fighting for human rights, minorities' rights and democracy and against extremism and fanaticism, he said. Paying tribute to Salman Taseer for
espousing the causes of the marginalised sections of society the President said that Taseer's supreme sacrifice will continue to inspire many down the line. The President said that Taseer was martyred to further polarise the society behind the façade of religion to frighten the democratic forces. He said all those behind the crime will be exposed and punished as per the law. The supreme sacrifice rendered by Shaheed Salman Taseer will not go in vain, the President further said. The President also offered prayer on the occasion and prayed to Allah to grant the Shaheed a high place in heaven. Spokesperson to the President Farhatulllah Babar said that the President was accompanied by his personal staff. Children of Salman Taseer were present on the occasion to receive condolences.-Online
Expedite 26/11 trial, Singh tells Pakistan MUMBAI: India is 'not satisfied' with the pace of progress in the Mumbai terror attack trial in Pakistan and would like the cases against the suspects 'expedited', Prime Minister Manmohan Singh said. "Well, we would like those cases to be expedited, beyond that what can I say. You know what problems we have with Pakistan. We are not satisfied with the pace those cases have been allowed to go forward," Singh said. Singh was talking to reporters after he paid homage to Mumbai terror attack victims yesterday at the Taj Hotel where he had addressed an Infosys function. He also laid a wreath at the memorial. The Prime Minister was asked whether he was satisfied with the way the case against the Mumbai attack suspects is progressing in Pakistan. Singh said he has come to Mumbai to pay homage to the memory of those innocent Indians and some foreign
WASHINGTON: Ben Bernanke will not get an easy pass from US lawmakers on Friday as the Federal Reserve chairman delivers his first congressional testimony since the central bank launched a controversial bond-buying policy. Facing a newly-empowered Republican Party skeptical of the Fed's latest attempt to stimulate the US economy, Bernanke may put the brakes on some of Wall Street's optimism surrounding a recent rebound in key economic data. Having been burned before by maintaining a rosy outlook even as the housing crisis deepened, Bernanke is likely to make sure the growth trend is firmly entrenched before sounding too chipper. Minutes from the Fed's December policy-setting meeting revealed a good deal of caution about recent improvements in the economic data, including a high threshold for curtailing the plan to buy an additional $600 billion in bonds announced in November. "While the economic outlook was seen as improving, members generally felt that the change in the outlook was not sufficient to warrant any adjustments to the asset-purchase program," said the minutes, published earlier this week. Bernanke will most likely stick to that script before the Senate Budget Committee, even though the numbers have indeed pointed to a pickup in business activity -- and glimmers of hope on the hiring front. He will have to explain why yields on benchmark Treasury notes have jumped 1 per centage point since the Fed's bond buys were announced, moving in the opposite direction of See # 11 Page 11
Clinton between 1997 and 2000, and helped Clinton battle the Republicans and, eventually, balance the budget. Obama, who must boost growth to ease US unemployment stuck just below 10 per cent or be punished in 2012's presidential election, on Thursday tapped another former
Clinton aide, William Daley, an executive at J.P. Morgan Chase, as his chief of staff. The United States plans to cut $78 billion in defense spending over five years, including a reduction of up to 47,000 troops, in a politically contentious move that would trim the government's growing budget deficit. The proposed cuts, unveiled at a somber Pentagon briefing on Thursday, follow increased White House and congressional scrutiny of military spending, which has doubled in real terms since the September 11, 2001, attacks. They are in addition to a $100 billion cost-savings drive that Defense Secretary Robert Gates kicked off last year to eliminate waste, cut poorly performing weapons programmes and redirect the money to other priorities. See # 9 Page 11
West to bet on PPP-govt under given contexts: WP WASHINGTON: Under the prevailing circumstances in Pakistan, especially in the wake of liberal politician Salman Taseer's assassination, the West has 'little choice other than to try to support and strengthen' the Zardari government, an editorial in a US newspaper has said. The Washington Post editorial said that while it was easy to "blame Pakistan's deepening crisis on its feckless civilian government", the assassination of one of Zardari's chief allies, Punjab governor Salman
Taseer, was a reminder that the country is engaged in a fateful civil war between democratic moderates and Muslim extremists- and that the current government is the most reliable liberal force. It, however, noted that Zardari and his Pakistan People's Party had been ineffectual in managing the country's economy, slow in responding to disasters like last summer's floods and unable to attack Taliban sanctuaries as the United States has been seeking for years.
Although the Obama administration has been a generous supporter, delivering billions in civilian and military aid to Pakistan, some of the civilian aid has been slowed by red tape, the editorial said, adding that the IMF demands that the government raise taxes had contributed to the collapse of its parliamentary coalition. Therefore, even though Zardari's government needs to implement economic reforms, sponsor development See # 10 Page 11
New Delhi expecting Qureshi: Krishna
nationals who died in the wake of the 'terrible terrorist onslaught' on the 'gracious' city of Mumbai and on the people of India. "I sincerely hope and pray that we the nation as a whole will remain united in tackling the menace that terrorism poses for civilised persons, NEW DELHI: India is expectcivilised societies," he said.-Online ing Pakistan foreign minister
Kaira plays down “deadline” politics ISLAMABAD: Information Minister Qamar Zaman Kaira has made it clear that Parliament is a supreme institution and there is no need to give any deadline to the government. "Government does not accept any deadline nor is there any need to give it any. Parliament is a supreme institution and in its presence there is no importance of any deadline", he said this while talking to media men here Friday outside Parliament House. He held government would resolve all the issues inside Parliament and democratic system would be strengthened further. To a question he said MQM has good working relationship with the government, adding it was still an ally
US senate to size up Fed chief’s policymaking
WASHINGTON: President Barack Obama, retooling his economic team to boost sluggish US growth and tackle emboldened Republicans, will on Friday name Gene Sperling as the new head of his National Economic Council. A White House official said Obama will announce the appointment of Sperling, a trusted aide and Clinton-era veteran, in remarks at a window manufacturer in Maryland where he will also discuss the economy and December's job report. Sperling's pick to replace Larry Summers at the economic council follows Obama's naming of a new chief of staff and the resignation of his press secretary, as the president shakes up his team after Republicans took control of the House of Representatives this week. Sperling, a counselor to Treasury Secretary Timothy Geithner, served as head of the NEC for President Bill
of the ruling coalition and its reservations have been removed to considerable extent. Responding to a question he said as long as Azam Swati was a part of Cabinet he saw no flaws in the prime minister but soon after his removal as minister, prime minister became corrupt in his eyes. He was of the view that government was working for elimination of corruption and National Ehtesab Bill would soon be presented in Parliament. The powers of appointing governors rests with the president and he would soon announce a new governor for Punjab in consultation with prime minister, he said.-Online
Shah Mehmood Qureshi to be here in a next couple of months, before which the foreign secretaries of the two countries will meet to "clear the ground for a very productive meeting" between the two foreign ministers. External affairs minister SM Krishna said, "The indication given to me by Qureshi was that sometime in the first quarter of 2011, he would be visiting Delhi and we are looking forward to it", reported PTI He said before Qureshi's visit "two foreign secretaries will meet and clear the ground for a very productive meeting at the level of foreign ministers." Krishna rejected a contention that his previous meeting with his counterpart in Islamabad failed due to lack of proper ground work done by the officials in the two countries. Asked about the agenda for See # 12 Page 11
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