International Karachi, Wednesday, February 9, 2011, Rabi-ul-Awwal 5, Price Rs12 Pages 12
‘Brahmdagh to be brought back if admits mistakes’
Foreign Debt (Sep 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
$17.38bn 14.55% $10.98bn $19.13bn $(8.15)bn $26mn $5.29bn $1.05bn Rs 638bn $58.41bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.11mn
202.73 1.98 0.98 3091
NCCPL (U.S $ in million)
FIPI (8-Feb-2011) Local Companies (8-Feb-2011) Banks / DFI (8-Feb-2011) Mutual Funds (8-Feb-2011) NBFC (8-Feb-2011) Local Investors (8-Feb-2011) Other Organization (8-Feb-2011)
0.16 0.86 -0.58 0.28 0.04 -1.61 0.84
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,360.94 10,635.98 23,484.30 17,775.70 2,703.95 2,798.96 6,054.81 12,155.35
Change 66.42 43.94 69.29 261.49 10.95 8.27 3.78 6.28
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)
$.Price PKR/Shares 2.60 110.97 18.49 157.83 2.00 42.68 1.70 36.28 11.44 39.04
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
26-Jan-2011 26-Jan-2011 26-Jan-2011 29-Nov-2010 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011 08-Feb-2011
13.67% 13.71% 13.88% 14.00% 13.19% 13.62% 13.76% 14.14% 14.26% 14.21% 14.25% 14.26% 14.61% 14.78% 14.97%
Commodities *Crude Oil (brent)$/bbl 98.93 *Crude Oil (WTI)$/bbl 86.70 *Cotton $/lb 174.81 *Gold $/ozs 1,364.10 *Silver $/ozs 29.77 Malaysian Palm $ 1,286 GOLD (NCEL) PKR 37,306 KHI Cotton 40Kg PKR 12,325
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 86.40 Canadian $ 86.00 Danish Krone 14.00 Euro 116.00 Hong Kong $ 11.00 Japanese Yen 1.024 Saudi Riyal 22.75 Singapore $ 66.80 Swedish Korona 12.00 Swiss Franc 85.40 U.A.E Dirham 23.25 UK Pound 137.25 US $ 85.45
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
87.40 87.00 14.70 117.25 11.10 1.050 22.95 67.80 12.10 86.00 23.50 138.75 85.75
Buying TT Clean
Selling TT & OD
86.60 86.26 15.59 116.22 10.97 1.038 22.77 67.05 13.23 89.44 23.25 137.80 85.36
86.80 86.46 15.63 116.49 11.00 1.040 22.83 67.21 13.26 89.65 23.31 138.12 85.55
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
19°C 29°C 20°C 21°C 15°C 19°C
KAMRA: Chief of Air Staff Air Marshal Rao Qamar Sulman briefing the Prime Minister Syed Yousuf Raza Gilani about the JF-17 Thunder fighter aircraft at Minhas Airbase on his arrival at PAC. Online
Unions demand to scrap deal with Turkish Air
Workers strike clips PIA wings Staff Reporters KARACHI/ ISLAMABAD: The employees of PIA protested against the agreement with Turkish Airline on Tuesday, which badly disturbed the flight operation of PIA. According to media reports, on strike call given by PIA Joint Action Committee the PIA employees protested against agreement with Turkish Airline. The PIA flights were suspended in this connection. The enraged employees said that the protest would continue till cancellation of agreement with Turkish Airline and dismissal of MD PIA. On the other hand, more than 30 management pilots and 30 contract pilots are carrying out the protest while the PIA flights to Islamabad, Karachi
MIN
3°C 11°C 5°C 7°C -4°C 3°C
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to Lahore, Lahore to Karachi, Paris, Beijing, Tokyo and Dubai have been suspended due to the strike. The flight number 301 going to Karachi has also been cancelled. The officials of the national Airline called the heavy contingent of ASF and police to control the situation. Talking to private TV channel Nighat Shaheen leader of the airhostess said agreement with Turkish Airline is not in interest of Pakistan because PIA has to face financial loss due to the agreement. She further said that we have no personal enmity with anyone. We are just protesting to protect our rights. She said that all routes have been given to Turkish Airlines. She said that PIA's all unions See # 14 Page 11
Jan ends with 14pc inflation Staff Reporter
Sell (Rs)
Inter-Bank Currency Rates Symbols
See on Page 12
Musharraf told to face BB case in court
See on Page 12
Uncertainty hangs over $7.5bn civilian aid package
SCRA(U.S $ in million)
Total Portfolio Invest (28 Jan-2011)
PM says ties with China flying high
Pak-USA talks come to a stop
Portfolio Investment Yearly(Jul, 2010 up to 7-Feb-2011) Monthly(Feb, 2010 up7 to-7-Feb-2011) Daily (7-Feb-2011)
See on Page 12
Hillary raises Davis issue with Kayani, demands release
Economic Indicators Forex Reserves (29-Jan-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Dec 10) Remittances (Jul 10 - Dec 10) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10)
Pak urges Saarc to join hands for growth
KARACHI: The inflation rate based on the Consumer Price Index (CPI), a key indicator of inflation, was recorded at 14.19 per cent in January 2011 as compared to the same month of the last year. The other indicators, including Wholesale Price Index (WPI) and Sensitive Price Indicator (SPI) also increased by 22.60 per cent and 18.80 per cent respectively during the month of January, according to data of Federal Board of Statistics (FBS) that was made public by Secretary FBS Asif Bajwa and Director General of
the Bureau, Arif Mehmood Cheema here Tuesday during a press conference. The CPI inflation rate witnessed an increase of 14.55 per cent during July-January (2010-11) as compared to the corresponding period of last year. The WPI and SPI from July to November (2010-11) increased by 22.37 per cent and 19.20 per cent respectively over the same July-January (2009-10), the figures revealed. In January 2011, the CPI, WPI and SPI increased by 1.30 per cent, 1.65 per cent and 0.47 per cent over December 2010 respectively.
January exports rise 38pc to $2.32bn
Pak exports climb highest-ever peak Staff Reporter KARACHI: Country's exports surged by 38.2 per cent to touch the highest ever monthly exports figure of $2.329 billion during January 2011. According to data provided by Trade Development Authority of Pakistan (TDAP) here Tuesday, the exports during January, 2010 were $1.685 billion. Cumulative value of exports for the period July-January, 2011 was $13.279 billion as
against $10.784 billion, registering a growth of 23.1 per cent over the same period last year. Imports during January, 2011 were valued at $3.444 billion registering a growth of 3.7 per cent over the level of imports valued at $3.321 billion in January, 2010. The cumulative value of imports for the period JulyJanuary, 2011 was $22.57 billion as against $19.315 billion registering a growth of 16.85 per cent, over the same period last year.
MPs Lodges project gets a go-ahead ISLAMABAD: Members of all political parties in both Houses including the Pakistan Muslim League-N have endorsed the extension project of Parliamentary Lodges. Combined House and Library Committee meeting was held in parliament house in the cochair of Deputy Speaker NA Faisal Karim Kundi and Deputy Chairman Senate Jan Muhammad Jamali to overview the pros and cons of the project. CDA authorities, while briefing the committee regarding the project, told it would take two and a half-year for completion in three phases, which would cost over Rs2.72 billions. According to CDA authorities, 500 servant quarters are to be constructed on 1.4 acres land whereas on the remaining land, lodges for parliamentarians will be constructed. See # 15 Page 11
Sugar output seen at 3.6mn T ISLAMABAD: The meeting of the Ministerial Committee on Sugar was held here Tuesday. The meeting was chaired by Mir Hazar Khan Bijarani, Minister for Industries and Production and attended by Minister for Food and Agriculture, Secretary MINFA, Additional Secretary Industries and Production, Cane Commissioner, Punjab; Cane Commissioner& Director Food KPK, Cane commissioner Sindh and Senior officers of Finance Division, Planning Commission, TCP, USC and representatives of the Central and Provincial PSMA. See # 16 Page 11
Kausar named as Governor KP ISLAMABAD: President Asif Ali Zardari Tuesday appointed Barrister Syed Masood Kausar as Governor KhyberPakhtunkhwa, on the advice of Prime Minister Gilani. The President felicitated Barrister Kausar on his new assignment, who called on him at the Aiwan-e-Sadr. The President expressed the hope that he would provide moral and political support in See # 18 Page 11
WASHINGTON: The Obama administration has suspended all high-level dialogue with Pakistan over the case of an American diplomat the Pakistanis have detained on possible murder charges, US and Pakistani officials said. The case of Raymond Allen Davis, who has admitted, he fatally shot two Pakistanis he said threatened him from a motorcycle while he was driving in Lahore on Jan 27, has severely strained relations between the two governments and threatens to scuttle a planned summit among US, Afghan and Pakistani leaders scheduled for the end of this month in Washington. Secretary of State Hillary Clinton canceled a meeting last weekend with Pakistani Foreign Minister Shah Mehmood Qureshi at an international security conference in Munich to protest Allen's detention, according to officials from both countries, reported The Washington Post.
'Davis case won't affect Pak-US ties' ISLAMABAD: US embassy in Islamabad has denied suspension of high-level dialogue with Pakistan over the case of an American detained on murder charges, media reported on Tuesday. Talking to media, spokeswoman for the embassy said that US is engaged in high-level contacts with Pakistan over Raymond Davis case. She further said that US is also engaged in high-level dialogues to resolve Davis issue besides other agenda items. To a question, she said that Raymond See # 22 Page 11 The administration has twice summoned Pakistani Ambassador Husain Haqqani to the White House for formal complaints and demands that Pakistan recognises Davis's diplomatic immunity, so release him immediately. The message was repeated in a meeting in Islamabad Monday between Pakistani President Asif Ali Zardari and US Ambassador Cameron Munter. Davis, 36, holds a diplomatic passport and is a member of the
"technical and administrative staff" at the US Embassy in Islamabad "entitled to full criminal immunity in accordance with the Vienna Convention," the State Department said Monday. The administration and Congress, the statement said, "have repeatedly made clear at the highest levels that this matter must be resolved by the Pakistan government or it could impact other bilateral initiatives." See # 23 Page 11
No pressure acceptable on Davis, vow President, PM
Roundtable to scan nat’l issues ISLAMABAD: President Asif Ali Zardari has called a round table conference for all the political parties in the country to discuss important national, international and political issues. President's spokesperson Farhatullah Babur said that President Asif Ali Zardari has decided to call the leaders of all the political parties in the country for a round table conference. President Asif Ali Zardari called a round table conference for the leaders of all the political parties in the country. The conference is going to focus on national, international and political issues for the betterment of the country. A round
table conference has been called so the different opinions can be shared and a collective decision can be reached. The spokesperson added that the date of the conference is yet to be decided but we will start informing the leader of the political parties from today (Wednesday). Spokesperson Farhatullah Babar said that the conference of political parties is aimed at arriving at a broad based consensus on addressing critical economic and political issues facing the country. He said the President will start contacting political leaders from Tuesday. Political observers have termed the decision of the
2-day Int’l Conference on Islamic Business
Islamic banking on the up: Shaikh Size of Islamic banks in Pak reaches Rs424bn ISLAMABAD: The Islamic principles of finance have proved their viability worldwide as the Islamic banking and finance was growing at a rapid pace globally, Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh said Tuesday. "In the wake of recent global financial crisis and debt problem of the third world countries and the Euro Zone, the Islamic banking and finance has established itself globally
and is growing at rapid pace," the federal minister said while addressing the inaugural session of two-day international conference on Islamic Business and Finance here. The conference was organised by Riphah Centre of Islamic Business (RCIB), a constituent institute of Riphah International University Federal minister said that the size of Islamic Banking is expected to reach $1.3 trillion See # 19 Page 11
Cotton Import on cards
Pak needs 2mn bales to fill gap ISLAMABAD: Pakistan must import up to 2 million cotton bales to meet demand until June, as dealers face high domestic prices over industry concerns about supply, an official said on Tuesday. The world's third-largest cotton consumer has so far imported over 1 million bales
to meet the shortfall after summer floods ravaged the 2010/11 crop, reducing it to an estimated 11.70 million bales against an original target of 14 million. Domestic consumption fluctuates between 14 million and 16 million bales on average. See # 21 Page 11
President as very important as the country is facing serious external and internal challenges. They said the issue of Raymond Davis has taken a serious turn and the President would like to have inputs from the national leadership on the vital issue of national sovereignty. As far internal situation is concerned, the President would discuss the war on terror, situation in Balochistan and particularly the economic situation as well as the ten point agenda of PML-N. The observers said the roundtable is expected to be held soon and particularly before the See # 18 Page 11
7-mth cement exports fall 17pc Ahmed Siddique KARACHI: During the month of January 2011 cement sales for domestic market was 1.907 million tonnes -- registered a growth of 7 per cent -- while exports sales was 0.566 million tonnes declined by 20 per cent when compared to last month i.e. December 2010. However, during the first seven months of current fiscal the cement sales for domestic market was 12.01 million tonnes, declined by 9.63 per cent, while the exports sales were 5.19 million tonnes, declined by 17.03 per cent during the same period. Total cement sales for the period from July 2010 to January 2011 was recorded at 17.20 million tonnes -declined by 12.01 per cent -compared with corresponding period. The decline is in contrast to last year when local consumption of cement increased by 14.70 per cent in 2009-10 but the overall increase in cement sales was 9.30 per cent due to decline in exports. See # 20 Page 11
2 Wednesday, February 9, 2011
CSR award for Lucky Cement TFD Report KARACHI: Appreciating and acknowledging Lucky Cement's continuous efforts to raise the Educational and Health standards and Environment-friendly business practices, CSR Association of Pakistan awarded Lucky Cement with the National CSR Award. The award distribution ceremony was held recently where Shuja Shams, GM, Human Resources received the award on Lucky Cement's behalf. Abdul Haseeb Khan, Sind Provincial Minister for Religious Affairs was the chief guest of the event. Robert Gibbson, British Deputy High Commissioner was also present on the occasion.
PTA measures against spam and fraudulent communications ISLAMABAD: The P a k i s t a n Te l e c o m m u n i c a t i o n Authority (PTA) has approved technical guidelines that will be helpful to stop fraudulent transfer of money and credit balance of consumers as over 40 per cent consumer complaints pertain to misuse of service and fake prize scams. To counter the spam, unsolicited, obnoxious and fraudulent communica-
tions, anti-spam regulations issued by the PTA are in force to protect the consumers from misuse of the service. Talking to APP, a PTA spokesperson said that it was felt that a regulatory framework was required in order to establish technical support system and formulate redressal measures at the licensees' end in order to protect the victims of such activities. He said a black list of
antecedents of those involved in obnoxious activities would be maintained and habitual criminals would be denied telecom facility in future. The spokesman said that while dealing with unsolicited communication a "Do Not Call" register was being established to register telemarketers and consent was sought from the consumers for receiving telemarketing communica-
tion. For obnoxious communication, technically feasible features (Call and SMS) barring facility would be made available to the consumers. In order to chalk out modalities to control menace of spamming and unsolicited telemarketing, a detailed Standard Operating Procedure (SOP) was introduced in September 2010, the spokesman added.-APP
MDA, HBFCL sign MoU on AHP
KARACHI: An MoU was signed between Malir Development Authority (MDA) and House Building Finance Corporation Limited (HBFCL) regarding MDA's Affordable Housing Project (AHP) at a ceremony recently held at the Governor House. Governor Sindh Dr Ishrat-ul-Ebad Khan, Sindh Minister for Local Government Agha Siraj Khan Durrani, Chairman HBFCL and Director General MDA were present on the occasion.-Staff Photo
Great potential for export of fruits, vegetables: ICCI Staff Correspondent ISLAMABAD: Wholesale fruit market of I-11/4, Islamabad was not only catering to the needs of the Federal Capital but also serving the people of Azad Kashmir, upper Punjab and Khyber Pakhtoonkhawa. The fruit market should be built on modern lines to meet the emerging needs said Mahooz Elahi, President of Islamabad
Chamber of Commerce and Industry while visiting the wholesale fruit market. He said that more Auction Platform should be constructed for the sale of fruits and also sewerage system must be improved to ensure cleanliness in the market. The President ICCI asked the President of the market to inform various issues concerning market that will be taken up with Capital Development Authority and
Workshop on home remittance business Staff Reporter KARACHI: State Bank of Pakistan (Banking Services Corporation - Peshawar) in collaboration with Pakistan Remittance Initiative - PRI (A joint initiative of State Bank of Pakistan, Ministry of Overseas Pakistanis and Ministry of Finance) organized a one-day workshop on Home Remittance Business Roles and Responsibilities, recently. More than 100 participants comprising Branch Managers of remittance rich areas of KPK, Regional Chiefs of banks, and bank officers dealing in Foreign Exchange attended
the Workshop. Home Remittance is the second largest source of foreign exchange for the country. Owing to its importance for the economy, it is expected from the banking industry to give high priority to this business area. The role and commitment shown by the industry in the recent past, under the auspices of PRI and SBP, to improve upon the remittance services, is highly commendable as evidenced by the steady growth of remittances. It is pertinent to mention here that at the moment Pakistan has the highest remittances growth in the world.
the relevant departments. Mahfooz Elahi said that Pakistan has great potential for the exports of fruits and vegetables in the international market and stressed that relevant departments should regularly organize programs inviting the representatives from Wholesale Fruit and Vegetable market to give them training on packaging, international marketing and awareness about standards.
Declamation contest at DHA College Staff Reporter KARACHI: All Karachi Annual Bilingual Declamation Contest 2011 was held at Defence Authority College for Women Phase-VIII here Tuesday. Abdul Majeed, Chairman Nazaria-ePakistan Pakistan Trust, Sindh was the chief guest. Tow students each from 12 leading Universities and 10 Colleges of the metropolis participated in the declamation. They spoke on various contemporary subjects and displayed their confidence, tact, force of arguments and oratory skills before the audience in the jam-packed college auditorium. Abdul Majeed lauded the tremendous potential, oratory skills and intellectual ability of young college and university students and described them as simply impressive.
Intel teams with will.i.am KARACHI: Group picture shows Syeda Asma Aziz, Chief Manager SBP BSC Peshawar with speakers Nadeem Bhurgri, Head Marketing, Pakistan Remittance Initiative (PRI), Arshad Ahmad Sattar Service and Quality PRI, Naushad Ahmed Finance PRI, Mohammad Rashid HBL, Tanveer Mumtaz Meezan Bank and Agha Hassan Zaman NIB Bank and participants.-Staff Photo
KARACHI: Chairman Nazaria-e-Pakistan Trust Sindh Abdul Majeed giving winning shield to a student at the All Karachi Bilingual Declamation Contest 2011 held at Defence Authority Degree College for Women.-Staff Photo
KARACHI: He's best known for being a multi-platinum music artist, producer and front man for The Black Eyed Peas, but will.i.am is also an innovator, technology fan, entrepreneur and philanthropist. With today's announcement at the Anaheim Convention Center, the seventime Grammy winner has added another title to his multi-faceted resume: "director of creative innovation." As an extension of his insatiable fascination with technology, which plays a significant role in his professional and personal lives, will.i.am will engage in a multi-year, hands-on creative and technology collaboration with Intel Corporation.-PR
KARACHI: At a simple but graceful ceremony held at the Governor House, Karachi, recently an MOU was signed between the Malir Development Authority (MDA) and House Building Finance Corporation Limited (HBFCL) on MDA's forthcoming Affordable Housing Project (AHP). Governor Sindh Dr. Ishrat-ul-Ebad Khan, Sindh Minister for Local Government Agha Siraj Khan Durrani, senior officials of MDA and HBFCL and other dignitaries were present at the ceremony. It may be mentioned that Affordable Housing Project (AHP) is a new and trend-setting project by MDA under which modern and high quality multi-storeyed houses will be built and provided to the public at affordable prices. The houses have been planned in selected sectors of MDA's already successful and well-known housing schemes, Taiser Town Scheme-45 and New Malir Housing Scheme-1. In order to provide financial assis-
tance to the public in acquiring these houses HBFCL will provide the facility of easy housing loans for which the MOU has been signed by the two organizations. Expressing his views on the occasion, Governor Sindh Dr. Ishrat-ul-Ebad Khan said that the Affordable Housing Project of MDA amply reflects the Government's commitment to provide affordable but quality housing facilities to the middle and lower income groups of the population. He appreciated the fact that the people will be further facilitated in this project with the availability of easy loans from HBFCL. Sindh Minister for Local Government Agha Siraj Khan Durrani said on the occasion that MDA's Affordable Housing Project is a landmark development in respect of providing quality housing to the people at prices within their reach, which is in accordance with the progressive manifesto of Pakistan People's Party.-PR
KARACHI: Commander Karachi, Pakistan Navy Rear Admiral Sayyid Khawar Ali SI (M) visited Port Grand. Group picture shows Rear Admiral Sayyied Khawar Ali SI (M), Shahid Feroz CEO Grand Leisure Corporation along with other officials present at the occasion.-Staff Photo
Summit Bank, a valuable addition to banking industry Staff Reporter KARACHI: The relaunch of Summit Bank (formerly Arif Habib Bank) was announced by the bank's management at a press briefing session held at a local hotel. Summit Bank is one of the fastest growing Commercial Banks of the country supported by an overseas investment entity Suroor Investment Limited. After the successful merger with Atlas Bank, Summit Bank has an increased network of 80 branches having presence in 20 different cities across Pakistan and Azad Jammu and Kashmir. As part of the merger, all Atlas bank customers are now part of "Summit Family" - who are promised a satisfying banking experience. The
bank's consolidated Customer Deposits have also gone up to Rs.62 billion, with number of accounts to about 100,000 and advances to Rs.44 billion. Addressing the media on the occasion, Husain Lawai, President & CEO, Summit Bank said, "We want to give our customers a satisfying banking experience that is geared towards offering banking solutions in line with the changing customer needs. Our customers will now benefit from a wider range of products and services as well as an expanded network of branches with several onsite /offsite ATMs across Pakistan. Besides, we have many products in the pipeline to cater to varying financial needs of all the customer segments we are serving."
KARACHI: (L-R) The top management of Summit Bank, Anwar Lutfullah, Group Head Operations, Husain Lawai, CEO and Zahir Esmail, Head of Retail/Branch Banking presiding at the launch of Summit Bank after its merger with Atlas Bank. The new bank Promises a satisfying banking experience.-Staff Photo
LCCI team visits Shah Alam markets Staff Correspondent LAHORE: Lahore Chamber of Commerce and Industry, while expressing grave concern over loss of billions of rupees in a fire incident in Shah Alam Markets, has demanded of the government to ensure installation of Fire Hydrants at the market places which are inaccessible for fire tenders to avoid future mishaps. These views were expressed by LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad, Vice President Sohail Azhar during a visit to fire-hit areas of Shah Alam Market. A large number of LCCI Executive Committee Members and PIAF Chairman Sohail Lashari also accompanied the delegation.
Auto Insurance
SCB customers to get competitive rates from TDI Staff Correspondent KARACHI: Standard Chartered Bank (Pakistan) Limited - SCBPL- and TPL Direct Insurance Ltd (TDI) signed an agreement that allows all Standard Chartered deposits and credit card customers to be eligible for an exclusive discount on TDI Auto Insurance Products. This will enable SCBPL customers to get the most competitive Auto Insurance rates in the market. Standard Chartered is Pakistan 's largest international Bank. The Bank is keen on building long term partnerships with its clients by offering banking solutions that help add value to their businesses. Commenting on this agreement, Aalishaan Zaidi, Head of Consumer Banking
said, "We are extremely pleased to launch another enhancement to our Retail Products. This agreement is a good example of Standard Chartered living its brand promise, Here for good, and reflects our ongoing commitment towards bringing new and innovative customer solutions to the market." Saad Nissar, CEO, TDI said: "TPL Direct Insurance and Standard Chartered Bank share a common vision of customer convenience and giving something extra to create the right value for their customers." TDI is the first Direct Insurance Company of Pakistan offering 24/7 services, with fastest insurance claim lodging, processing and settlement times in the local industry.
KARACHI: Shuja Shams, GM-HR receiving award from Abdul Haseeb Khan, Sindh Provincial Minister for Religious Affair & Robert Gibbson, British Deputy High Commissioner.-Staff Photo
‘Value-added textile should reach $50bn’ Staff Reporter KARACHI: Pakistan has a potential of at least $50 billion in value-added textile if the human resource in this sector is fully developed and the workers' training would be done at the international standard, this was stated by Textile Commissioner, Ministry of Textiles, Muhammad Idrees. He was addressing on the occasion of closing ceremony
Moot on Chinese economic success KARACHI: The Institute of Business and Technology, (BIZTEK) Tuesday organized a seminar on the role of China in the realms of economy at its main campus here. An official of the institute said that the topic of the moot was: "China is shaping the world". He said the purpose of this seminar was to celebrate Chinese new year and its economic success. Speaking on the occasion, Cambridge University educated Rector of BIZTEK, Dr. Izhar Ul Haq, spoke at length as to how China has moved ahead in the areas of renewable energy (Solar, wind and natural gas, electric cars and about clean technology.-APP
TV PROGRAMMES WEDNESDAY Time Programmes 7:00 8:00 9:05 11:00 11:30 12:00 13:10 14:10 15:00 16:00 17:30 18:00 18:30 19:00 19:05 19:30 20:03 21:00 22:03 23:00 23:30
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of 9th Round of United Nations Development Programme (UNDP) and PRGTTI's Apparel Manufacturing and Management Training program held at the Readymade Garments Technical Training Institute (PTGTTI). Idrees said the present volume of exports which is not over $2 to $14 billion is not at all satisfactory and stakeholders could easily double this volume through improving skills of the
workers and through compliance of standards of the major buyers. The 9th Round of Master Trainers of GEN-PROM project's Master of the ceremony was Monitoring and Evaluation Officer, GENPROM-UNDP, Moin Zaidi while Syed M. Nawab, National Project Manager, GENPROM-UNDP briefed the participants on the project's role in the apparel manufacturing sector.
Global economic recovery slipping away, say accountants TFD Report KARACHI: The global economic recovery, which has been slowing down in the past few months, has now gone into reverse, according to a worldwide survey of finance professionals by ACCA (the Association of Chartered Certified Accountants). The results of ACCA's Global Economic Conditions survey for the fourth quarter of 2010, show that twice the number of accountants as compared with the previous quarter (28% as opposed to 14%) believe that the recovery is slipping away. Faith in the recovery is also at its lowest level in 18 months, with less than a third of respondents (32%) believing that conditions are improving - or are about to. In the previous quarter nearly a half (47%) were optimistic about economic prospects.
As a result, business confidence, as recorded by the survey of more than 600 professional accountants from around the world, has now gone into negative territory for the first time since the third quarter of 2009, with the share of respondents reporting no change in their confidence levels (37%, down from 42% in Q3, 2010) falling below that of respondents who had lost confidence in their organisations (38%, up from 28%). Manos Schizas, Senior Policy Adviser with ACCA, said: " The issue for finance professionals for some time now has been the question of whether the economy, which had been showing signs of recovery, had taken a pause for breath or was about to take a downturn. The findings of this survey suggest that finance professionals think the down turn is now the more likely scenario."
KARACHI: President Federation of Pakistan Chamber of Commerce and Industry Haji Ghulam Ali presenting FPCCI crest to Rossalis R. Adenan, Consul- General of the Republic of Indonesia at the Federation House.-Staff photo
3
Wednesday, February 9, 2011 Top Economic Events
US dollar, Swiss franc fall as risk appetite rises
Time 5:01 10:00 11:00 12:00 14:30 20:30
ages to extend beyond $1.3680, analysts see the next resistance level at $1.3767, the Feb. 2 low. "It's all about risk. Euro/Swiss is up big. The market is happily unwinding some of the safehaven positions taken during the Egypt crisis," said Dean Popplewell, chief currency strategist at OANDA in Toronto. "Egyptian headlines are not on the front pages any more and that's certainly supporting risk appetite. This has weighed on historical safe-haven currencies such as the dollar and Swiss franc." Traders said the dollar and Swiss franc could fall further given a sizable amount
of safe-haven buying the last 10 days. In midday trading, the US dollar struggled against a major currency basket,
falling 0.4 per cent to 77.693, and lost ground against the yen to 81.92 yen. Traders said central bank buying of yen and fiscal year-end repatriation in Japan have supported the Japanese currency against the dollar despite a surge in US yields in recent weeks. The euro gained 0.6 per cent versus the greenback to $1.3675 as investors booked profits on long dollar
Asian currencies
Won at 2-1/2-year high, less intervention seen Taiwan dlr up 1pc; Rupiah, peso at 3-month highs SINGAPORE: Emerging Asian currencies mostly strengthened on Tuesday, with the South Korean won hitting a 2-1/2-year high, on bets that monetary authorities will allow more currency appreciation to keep price pressures at bay. Hedge funds and other shortterm investors pushed up the won and Philippine peso ahead of policy meetings later this week. After Bank Indonesia surprised the market with an interest rate increase last Friday, investors have been more confident that officials will lean towards curbing inflation with stronger currencies rather than only protecting their exports with weaker ones. The Taiwanese dollar broke through T$29 per dollar, a level that the island's central bank had defended for about a month, and advanced to a 13-year high. The
Indonesian rupiah, meanwhile, posted its biggest 3-day gain in about eight months, as the central bank was not spotted buying dollars for intervention. Foreign exchange authorities from South Korea and Philippine were seen buying dollars but the intervention was just seen as slowing down the speed of their currencies' rises, dealers said. Dollar/won fell to as low as 1,102.5, the weakest since September 2008 on continuous hedge funds' selling and exporters' offers for settlements. The won rose 2.8 per cent against the dollar last year, the worst performer among emerging Asian currencies. The foreign exchange authorities were seen buying dollars in the afternoon, dealers said. Dollar/Taiwan dollar fell below the T$29 level in the first domestic trading session after
Stg falls; rise in bank levy hits sentiment LONDON: Sterling slipped against the dollar and the euro on Tuesday as an increase in Britain's tax levy on banks dented investor sentiment towards the UK and triggered stop-loss orders. Britain slapped an extra 800 million pound ($1.3 billion) tax on banks, taking a harder line on the sector as it negotiates a deal to curb bonuses and free up busi-
ness lending. The government said on Tuesday it will impose the full amount of a planned levy on bank balance sheets this year, instead of phasing it in. "The bank levy announcement put the equity market under pressure, and it's taken the steam out of sterling today," said Ian Stannard, senior currency strategist at BNP Paribas. "We think sterling's going to struggle now given the extent of the rate hikes that have been priced in. Things are swinging back to sterling reacting more to
negative news," he added. Sterling traded down around 0.5 per cent against the dollar at $1.6035, off earlier highs of $1.6163. Traders said stop-loss orders had been triggered on the break of $1.6080 and $1.6050. The euro rose around 0.8 per cent against the pound to 85.02 pence, moving back above its 200-day moving average at 84.53 and triggering stop-losses
on the break of 84.80. "We think euro/sterling is likely to trade in a range of 84 to 86 pence, but on the day cable has failed to track the move up in euro/dollar" said Gavin Friend, currency strategist at nabCapital. The Bank of England announces its latest interest rate decision on Thursday, with most analysts seeing little chance of a change and attention focused more on next week's inflation data and quarterly BoE inflation report for any clues to the timing of future monetary tightening. -Reuters
the Lunar New Year holidays. Exporters' sell orders for the pair were also lined up at T$29, dealers said. But traders will be watching for any central bank intervention as the central bank has often intervened at the last minutes of local trade. Dollar/rupiah slid to as low as 8,910, the lowest since Nov. 12 last year, down from the previous close of 8,950. The dollar/rupiah lost 1.2 per cent during the recent three days, the biggest three-day loss since June last year. Indonesian central bank's dollar-buying intervention has not been spotted, dealers said. The dollar/peso was bid as low as 43.42, the lowest since Nov. 11, on flows from short term players on the peso. The central bank is spotted buying dollars to check falls in the dollar/peso, dealers said. Reuters
Egypt cbank intervenes to prop up ailing pound CAIRO: Egypt's central bank said on Tuesday it intervened in the market to prop up the Egyptian pound, helping the local currency to rise against the dollar for the first time since political unrest gripped the country. The currency had tumbled steadily since the eruption of political protests on Jan 25, and earlier in Tuesday's session it had reached a fresh six-year low. The country's forex trading rooms were closed all of last week and only reopened on Sunday. The pound strengthened on Tuesday by 1.4 per cent to 5.876 to the dollar, from 5.960 earlier in the session. Traders said the central bank seemed to be trying to restore confidence before the stock market reopens next week. The fate of the pound could play a big role in determining the extent shares are hurt by the crisis. "We intervened in the market," the bank's Deputy Governor Hisham Ramez said by telephone, declining to specify the amount. The central bank said it last intervened directly in early 2009 in the wake of the global economic crisis. -Reuters
Indian rupee at near 1-mth peak on $ inflows MUMBAI: The Indian rupee strengthened on Tuesday on some dollar inflows, but eased from a near one-month high after China raised interest rate for the second time in just over six weeks to tame stubborn inflation. The partially convertible rupee closed at 45.29/30 per dollar, after touching 45.2350, its highest since Jan. 14 and up 0.4 per cent from Monday's close of 45.4750/4850. "The rupee appreciated because of dollar inflows. Nothing else seems to be having an impact. It is just going one way. The inflows are likely to continue till the end of this week," said Naveen Raghuvanshi, an associate vice president at Development Credit Bank. Foreign institutional investors bought shares worth $0.14 million on Monday, taking net purchases in three consecutive sessions to $194.35 million, after five straight selling sessions. They have pulled out a net $1.3 billion this year until Feb. 7.
"The rupee was off-highs after China's central bank raised interest rates," said Hari Chandramgathan, a senior foreign exchange dealer with Federal Bank. "We could see a test of 45.05 this week." Development Credit Bank's Raghuvanshi also expects the rupee to open around 45.20-45.22 levels on Wednesday and said it is likely to strengthen further. Dealers said strong dollar demand from oil importers prevented the rupee from a sharper rise. One-month offshore non-deliverable forward contracts PNDF were at 45.47, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and United Stock Exchange both closed at 45.44, while those on the MCX-SX closed at 45.43, with the total volume traded on the three exchanges at $5.13 billion. -Reuters
positions taken in the last four days. The euro-zone single currency also benefited from buying against the Aussie dollar, traders said, after a Chinese rate increase on Tuesday, having fallen significantly versus the Australian currency the last two years. The euro fell 18.2 per cent versus the Aussie dollar last year and dropped 19.1 per cent in 2009. It has risen 2.8 per cent so far this year and clearly has room for further gains. On Tuesday the euro was up 0.3 per cent to A$1.3439. The negative impact of the Chinese rate rise on commodity currencies has all but faded as risk appetite increased. The Australian dollar initially fell against the US dollar after the Chinese rate hike but recovered in New York trading to move up 0.4 per cent at US$1.0175. Near-term support is seen at $1.0083, last Friday's low. -Reuters
Aussie firm against yen and $, kiwi lags SYDNEY/WELLINGTON: The Australian held near ninemonth highs on the yen on Tuesday and edged up on the US dollar as investors took faith in surging metal prices and rising Australian bond yields. The Australian dollar held firm at 83.48 yen, having hit a peak of 83.71 on Monday. The cross rate, often seen as a proxy for risk appetite, gained nearly 3 yen last week. "Thanks to firm commodity prices, the Aussie remained well supported, with Japanese investors looking to take on additional risk given the solid run of late," said David Scutt, a trader at Arab Bank Australia. The Aussie also crept up to $1.0155, though trading was thin with China's financial markets still shut for the Lunar New Year celebrations. Support is seen at around $1.0103, then $1.0083, with resistance nearby at $1.0163 and then $1.0201. Across the Tasman sea, the New Zealand dollar spent a second consecutive session in a tight range, holding around
$0.7710. It spent the day between $0.7695 and $0.7732. A survey out Tuesday showed Australian business conditions worsened markedly in January as flooding across the state of Queensland hit sales and profits. However, confidence actually rebounded sharply in a hopeful sign the economic damage would only be temporary. The Reserve Bank of Australia (RBA) has made it clear it will look through the impact of the floods and remains upbeat on the longterm outlook. The Aussie gained 3 per cent last week after the RBA played down the drag from floods and predicted strong growth at home and globally over the next couple of years. Whether the US dollar sustains its gains would likely depend on the content and reaction to speeches from various Federal Reserve officials this week. Near term the kiwi is seen supported at around $0.7660 with resistance at the Feb. 4 low of $0.7747. -Reuters
Swiss franc dips on Mersch’s rate view ZURICH: The Swiss franc dipped against the euro on Tuesday, following a remark by a member of the European Central Bank's governing council saying the ECB could raise rates to tame inflation before ending its liquidity support. The safe-haven Swissie rose more than 15 per cent against the euro last year to hit a record high in December. But it has since lost ground against the euro and has been trading near the 1.30 per euro mark. "We do not expect a major break higher (for Euro/Swiss) at this stage, but we think a number of short-term accounts may hold long euro positions versus the franc for now given the latest hawkish comments from ECB's Mersch and the fact that FX markets are not really reacting negatively to Egypt yet," Informa Global Markets analysts Nikola Stephan and Tony Nyman said. The European Central Bank could raise interest rates to contain inflation even before it exited measures to support liquidity in the euro-zone, Governing Council member
Events BRC Shop Price Index y/y Household Confidence Prelim Machine Tool Orders y/y German Trade Balance Trade Balance Crude Oil Inventories
Forecast
11.9B -8.6B 2.2M
Previous 2.1% 40.1 64.0% 11.8B -8.7B 2.6M
Forecast
Previous
40.5
Previous Day
Euro supported by Asia demand, risk appetite NEW YORK: The US dollar and Swiss franc fell across the board on Tuesday, with more losses seen likely, as investors ventured away from safe-haven currencies after tensions in Egypt eased. The euro, on the other hand, recovered broadly, lifted by demand from Asian central banks and buying against the Australian dollar after a Chinese interest rate hike fueled concerns over that country's economic growth and demand for commodities. Analysts, however, said the euro's rally against the dollar could be short-lived as comments from European Central Bank President Jean-Claude Trichet last week had damped down expectations of a nearterm ECB rate hike. The euro rose above key resistance at $1.3680, a high on electronic trading platform EBS last Friday. If euro/dollar man-
Source GBP JPY JPY EUR GBP USD
Yves Mersch said on Monday. Mersch said inflationary pressures were undoubtedly rising, principally because of increasing commodity prices, against which the ECB was powerless to act. The franc was down 0.1 per cent against the euro compared to the New York close, trading at 1.2992 per euro at 0813 GMT. The franc was up 0.2 per cent against the dollar at 0.9533 per dollar. "For as long as Swiss economic indicators manage to print better than anticipated economic prints solid fundamentals weigh heavily on the various Swiss franc crosses," UBS economist Reto Huenerwadel said in a note. Reuters
Source
Events
CNY GBP GBP JPY CHF EUR EUR EUR CAD USD
Bank Holiday BRC Retail Sales Monitor y/y 2.3% RICS House Price Balance -31% Economy Watchers Sentiment 44.3 Unemployment Rate 3.5% French Gov Budget Balance -148.8B French Trade Balance -5.1B German Industrial Production m/m -1.5% Housing Starts 170K IBD/TIPP Economic Optimism 50.9
Actual
-38% 45.6 3.5% -4.1B 0.2% 171K 52.8
-0.3% -39% 45.1 3.5% -140.7B -4.1B -0.6% 169K 51.9
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3626 1.3666 0.9568 0.9569 1.3035 1.6162 0.9907 0.9914 1.0149 1.0188 111.9700 112.2100 0.8503 0.8500 1.3041 1.3042 131.7200 132.9000 85.8600 86.2600 1362.2100 1364.9900
Bid 1.3632 0.9565 1.6031 0.9903 1.0145 111.9300 0.8499 1.3038 131.6600 85.8000 1361.7000
Low 1.3574 0.9525 1.6031 0.9871 1.0117 111.6100 0.8423 1.2975 131.7100 85.8200 1348.7100
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 08/02/2011 A USD GBP CAD EUR JPY O/N 0.23550 0.55813 0.96000 0.77875 SN 0.10938 1WK 0.25250 0.57688 1.00050 0.84250 0.11625 2WK 0.25750 0.58563 1.03917 0.85125 0.11813 1MO 0.26400 0.61438 1.08000 0.85750 0.12750 2MO 0.28825 0.68188 1.14750 0.91125 0.15438 3MO 0.31200 0.80188 1.20950 1.03500 0.18875 4MO 0.35100 0.88500 1.27700 1.10000 0.24188 5MO 0.41000 0.98813 1.34000 1.18250 0.30000 6MO 0.46435 1.10500 1.40500 1.27625 0.34625 7MO 0.51675 1.18538 1.49083 1.33125 0.39375 8MO 0.56950 1.27100 1.56833 1.38688 0.44313 9MO 0.62675 1.35288 1.64000 1.44750 0.48750 10MO 0.68025 1.43250 1.72833 1.49875 0.51438 11MO 0.73350 1.50063 1.81167 1.55000 0.54125 12MO 0.79325 1.56938 1.90000 1.60875 0.56750
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada March 1, 2011 Bank of England February 10, 2011 Bank of Japan February 14, 2011 European Central Bank March 3, 2011 Federal Reserve March 15, 2011 Swiss National Bank March 17, 2011 The Reserve Bank of Australia March 1, 2011
September 8, 2010 March 5, 2009 December 19, 2008 May 7, 2009 December 16, 2008 March 12, 2009 November 2, 2010
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, February 08,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.60 138.12 116.49 86.46 89.65 86.80 13.26 1.04 14.84 67.21 15.63 22.83 11.00 13.06 305.61 28.22 66.05 23.51 23.31 0.08 2.79
85.40 137.80 116.22 86.26 89.44 86.60 13.23 1.04 14.81 67.05 15.59 22.77 10.97 13.03 304.89 28.15 65.89 23.45 23.25 0.08 2.78
85.22 137.48 115.94 86.03 89.20 86.37 13.19 1.03 14.77 66.88 15.55 22.71 10.94 13.00 304.09 28.08 65.72 23.39 23.19 0.08 2.77
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 08, 2011
KASB
BMA
ELXIR
GSL
0-7days
12.10
12.10
12.30
12.40
11.50
12.25
12.11
8-15dys
12.55
12.75
12.60
12.65
ICSL 12.80
JSCM AvgRate 12.60
12.66
16-30dys
12.70
12.90
12.80
12.80
12.85
12.80
12.81
31-60dys
13.05
13.12
13.08
13.05
13.10
13.10
13.08
61-90dys
13.35
13.41
13.40
13.40
13.25
13.40
13.37
91-120dys
13.46
13.47
13.49
13.50
13.45
13.52
13.48
121-180dys
13.50
13.50
13.56
13.58
13.50
13.60
13.54
181-270dys
13.60
13.62
13.66
13.66
13.60
13.65
13.63
271-365dys
13.70
13.74
13.75
13.70
13.70
13.75
13.72
2-- years
14.05
14.10
14.08
14.00
14.05
14.00
14.05
3-- years
14.15
14.21
14.24
14.23
14.22
14.22
14.21
4-- years
14.18
14.25
14.26
14.25
14.22
14.20
14.23
5-- years
14.22
14.27
14.27
14.26
14.23
14.23
14.25
6-- years
14.23
14.30
14.30
14.28
14.30
14.27
14.28
7-- years
14.24
14.30
14.32
14.30
14.35
14.33
14.31
8-- years
14.25
14.25
14.26
14.30
14.23
14.26
14.26
9-- years
14.26
14.15
14.18
14.20
14.20
14.21
14.20
10--years
14.27
14.25
14.27
14.26
14.25
14.26
14.26
15--years
14.60
14.55
14.60
14.65
14.55
14.70
14.61
20--years
14.80
14.70
14.70
14.90
14.75
14.85
14.78
30--years
14.90
14.85
14.95
15.10
15.00
15.00
14.97
Currencies Correlation EUR/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD
week month months months year years
-0.39 0.21 -0.28 0.43 -0.14 -0.43
-0.05 0.91 0.84 0.66 0.83 0.92
0.76 0.90 0.41 0.75 0.78 0.65
0.93 0.98 0.84 0.87 0.43 0.71
0.16 0.81 0.80 0.79 -0.15 0.39
USD/CAD USD/CHF
0.82 0.43 0.36 0.46 -0.31 -0.37
0.28 0.26 0.27 -0.27 -0.09 0.44
-0.86 -0.77 0.26 -0.37 0.34 0.29
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)08/02/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.00
12.50
12.25
12.75
12.65
13.15
13.30
13.55
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.20
12.70
12.40
12.90
12.70
13.20
13.35
13.60
13.60
13.85
13.75
14.25
13.85
14.35
13.95
14.45
ASPK 12.15
12.65
12.40
12.90
12.70
13.20
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.80
14.30
CIPK
11.90
12.40
12.20
12.70
12.50
13.00
13.40
13.65
13.60
13.85
13.80
14.30
14.00
14.50
14.10
14.60
DBPK 11.90
12.40
12.30
12.80
12.50
13.00
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.00
12.50
12.45
12.95
12.70
13.20
13.40
13.65
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.15
12.65
12.45
12.95
12.70
13.20
13.40
13.65
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
HBPK 12.10
12.60
12.40
12.90
12.70
13.20
13.40
13.65
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
HKBP 12.05
12.55
12.40
12.90
12.70
13.20
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
NIPK
12.40
12.90
12.65
13.15
12.85
13.35
13.25
13.50
13.35
13.60
13.50
14.00
13.55
14.05
13.60
14.10
HMBP 12.20
12.70
12.55
13.05
12.80
13.30
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.00
12.50
12.40
12.90
12.70
13.20
13.25
13.50
13.40
13.65
13.50
14.00
13.75
14.25
13.85
14.35
MCBK 12.00
12.50
12.40
12.90
12.60
13.10
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.00
12.50
12.40
12.90
12.75
13.25
13.40
13.65
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.00
12.50
12.40
12.90
12.70
13.20
13.35
13.60
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
UBPL 12.20
12.70
12.40
12.90
12.60
13.10
13.40
13.65
13.55
13.80
13.65
14.15
13.80
14.30
13.90
14.40
AVE
12.57
12.41
12.91
12.69
13.19
13.37
13.62
13.51
13.76
13.64
14.14
13.76
14.26
13.86
14.36
12.07
4 Wednesday, February 9, 2011
The Financial Daily International Vol 4, Issue 177
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board
The Afghan Connection Fahd Farooq Khan
T
he Muslim world is in transaction. Is it the political awakening, the sociological Prof. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA renaissance or a general reformaZahid Bukhari SVP HBL (retd) tions, only the time will tell the Dr. A. Hadi Shahid, FCA cumulative effect of upheavals in Ismat Sabir Muhammad Arif Tunisia, Yemen, Syria, Algeria and Head office Egypt. The fate of Hosni Mubarak 111-C, Jami Commercial Street 11, Phase VII, DHA Karachi will eventually steer the course for Telephone: 92-21-35311893-6 Fax: 92-21-35388428 a new Middle East. URL: www.thefinancialdaily.com This indicates that the eye of the Email Address: editor@thefinancialdaily.com storm is probably shifting from Lahore office West Asia to the Arabic-speaking 24- Peshawar Block, Fortress Stadium, Lahore countries. The revolution in Iran Telephone: 92-42-6675595 Fax: 92-42-6664349 has ethnically stabilized that counEmail Address: editor@thefinancialdaily.com try, which was further augmented by a system of honest governance through politico-theocratic mechanism, although Iran also seems ripe for yet another political change. Turkey, another important Muslim country, has already had its revolution of reforms in the era of Kamal Ataturk. Saudi Arabia with these developments has become another interesting case for the students of international politics. All of these reformactivities in the Arabian world will extremely affect Saudi Arabia, the centre of Islamic religious thought and reverence. Muslims all over the worlds are awakening politically Currently one normally reads a variety of due to the uncontrolled effect of the news hinting towards subdued and often dis- Third Wave. Politically this is a appointing performance of the economy. good omen, but no one in the world would like to see a Lately, the data released by Pakistan cotton Muslim destabilized Saudi Arabia in comGinners Association (PCGA) provided a ing days but the Saudi rulers will pleasing surprise especially for the residents have to make tough choices. Another region which can destaof Sindh. Sanghar has emerged as the largest bilize the complete Muslim world cotton producing district of Pakistan. Cotton is Afghanistan and Pakistan. producers of the area deserve appreciation by Leaving political awakening aside the government as well as textiles and cloth- these two countries are passing through a crisis which has directly ing industry of Pakistan. threatened their existence simultaReportedly, till January 31, this year arrival neously in the social, political, ecoof phutti at ginning factories was equivalent nomic, ethnic and natural planes. the Muslim world is facto 1.569 million bales. This translates into 14 Presently ing a bipolar crisis; political awakper cent of total cotton produced in the coun- ening at one pole and extremist try and 42 per cent of the silver fiber produced resurgence on the other. and Pakistan with its in Sindh province. This record production can Afghanistan tribal areas have become the center be attributed to two factors: 1) increase in the stage of this new power play of difHaseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Sanghar’s record cotton
area under cotton cultivation and 2) cultivation of high yielding varieties. Sanghar has achieved this milestone by beating Rahim Yar Khan district, which enjoyed the status of the largest cotton producing district till recently. This fall can be attributed to reduction in area under cotton cultivation to 0.6 million acres from 0.8 million acres mainly due to switchover of farmers to cultivation of sugarcane from cotton. This transition was made due to construction of sugar mills in the Rahim Yar Khan as well as adjoining districts. Previously only two sugar mils were operating in the region but addition of two mills sponsored by politicians encouraged the farmers to grow sugarcane in cotton growing belt. Experts have been warning both the federal and provincial governments of the dire results of construction of sugar mills in cotton growing belt but politicians prevailed over. Experts had also raised objection to granting permission for sugar mills in Punjab's area adjoining Sindh. It is on record that a total of 13 applications were submitted all moved by the leaders of PML-Q and PMLN. While 7 permissions were cancelled, two out of remaining six units have commenced operations. This is likely to cause diversion of sugarcane grown in Sindh to Punjab, which needs to be stopped immediately. It maybe said that farmers have a right to cultivate whatever they like and investors also have the right to locate their mills wherever they like. However, the decisive role has to be played by the government to protect the interest of all the stakeholders. Since cotton and sugarcane are competing crops the attitude of spinners and sugar mills sets the farmers' mood to cultivate what seems more profitable. Having said this, it is necessary to warn the government that construction of sugar mills in the cotton growing belt must be stopped immediately. Now sugarcane and cotton have become competing crops a balance has to be maintained.
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ferent unknown vectors. The situation in Afghanistan is tricky and getting more trickier. The American troops have announced a phased withdrawal from year 2012. The political administration is trying to give a
“
Presently the Muslim world is facing a bipolar crisis; political awakening at one pole and extremist resurgence on the other. Afghanistan and Pakistan with its tribal areas have become the center stage of this new power play of different unknown vectors. The situation in Afghanistan is tricky and getting more trickier.
different impression that they are going to stay for decades to come, if only the change in the pressure matrix is to take place, it is going to be from boots to mere hoofs with political and economic stockings on. The Afghan national army, over
humaila Bibi, the widow of Fahim, victim of Raymond Davis, the American who killed him from behind with two others in Lahore, committed suicide; swallowing poisonous pills out of depression and disappointment over the proceedings of the case, and died in hospital - in front of doctors, nurses, TV cameras and crew, while the whole nation was watching her in the precarious condition. Nobody could do anything to save her life. What a shame! What a fate! That she was under stress, after all she had lost her husband whom she married just six months ago; she was in sheer duress and the suicide attempt had an obvious reason, but where were we, the members of entire society, the people of this nation, the government, the police, the relatives? Was there no one to share and lessen her grief, to console her and help her
one hundred thousand strong, is not well trained and poised enough to replace the ISAF forces. Their Indian trainers are busy indoctrinating them with anti Pakistan rhetoric. The Afghan police and other law enforcing departments are miles away from efficacy ladder.
come out of the great trauma and tragedy? Didn't she deserve to be reckoned an existence of our authorities' concern to take care of her, at least for the sake of tracing some clues of Fahim to know exactly whether he tried to rob the American or is there some other sinister design behind ignoring her? How come she got access to the poisonous pills, especially at a time when everybody in the world knew that she could try to end her life? Apart from finding mysteries shrouding her 'murder', it is shame on us, slap on our face. We as a whole are Shumaila Bibi's killers. There is no regret expressed by doctors, the authorities, and the members of civil society. Davis, the 007 must be happy; a witness who probably could have posed a dent to his plea in the court 'has also been eliminated'! Marya Mufti, Lahore
Sighs turn to quietness Till now we were hearing on media about those people who were committing suicide due to poverty and hunger but how pity and shameful to see someone committing suicide because she don't sees any hope of justice!! Yes I am talking about Fahim's wife who committed suicide and has died. Fahim who was brutally killed by Raymond Davis an American, and member of some death squad in Lahore along with one more person. Just before dying she blamed Islamabad that they are providing VIP treatment to the US criminal and there are reports that he will be released and will be allowed to go back to US. This was highly shown scene over the media. Here question arises that why
ing a strategic depth rather it is Afghanistan which is sucking in the Pakistan territory into utter chaos. The insurgents use Afghan territory to fuel subversion and unrest in Pakistan. The gains of ISAF and US forces are all reversible. It is the
Whatever happens in Afghanistan has a direct effect on Pakistan. It is due to the natural grain of ground that Pakistan territory figures out so well in Afghan society, Kabul, Jalalabad and Peshawar are the three staging posts of history, located at successive territorial intervals
She died as we watched?
S
The growing trade in narcotics and drug paddling is increasing with a universal outreach. The idea of associating Pakistan connection with any ills of Afghan society is dying down. There is a realization that it is not Pakistan which is crav-
she committed suicide when the case is in court and culprit is here. Then why she commit suicide when our government said that we will not handover the killer to US and court will take decision, But the question arises that why our government failed to assure her that she will get the justice? Why are we being surrounded by the rumors that the culprit will be handed over when whole nation is against this decision? Why there were statements that if we will not hand over Davis it will harm our relations with US? And why not there were any words of sympathy and assurance from our political leaders after her suicide that she will be given justice. Pity for this sense of insecurity and injustice!! Shumaila Nasreen, Islamabad
strong imprint of geography on each and every operation which dictates the resultant outcome. The Afghan economy is gaining some strength but without strong state organs it will eventually end up being run by cartels and underworld monopolies, like that of
Norco states. Whatever happens in Afghanistan has a direct effect on Pakistan. It is due to the natural grain of ground that Pakistan territory figures out so well in Afghan society, Kabul, Jalalabad and Peshawar are the three staging posts of history, located at successive territorial intervals. Beyond the Indus was considered as the alien territory. Afghan folk tales and fables consider the mulberry land of Peshawar valley as the place of natural scent and affinity. This part of the land was always magnanimous to Afghan traders, shepherds and general travelers. During the Afghan war of 1980, Peshawar faced the brunt of war more than even Kabul. The present crisis of Afghanistan is not prudently handled only the military options are applied with small corrective measures in civil affairs. Like all insurgencies this also breeds amongst the Afghan population. The insurgent is a shadow, engaging people is the lens through which you can see the aura of this shadow. Only blaming Pakistan for every ill of Afghan society, especially the war efforts is absolutely not fair. The Pakistan-Afghanistan strategic dialogue also some times hit the cursory cords rather than touching the deep issues. The stability question is to be defined with precision. Uncle Sam should see that it is the Afghan situation which is destabilizing Pakistan rather than being vice versa. Pakistan is passing through some very complex and blind turns on the this road to nowhere, so if someone accept Pakistan to strike a cord with all the players of this game all the time, then probably it is asking too much with too little of moral, physical and financial support. Remember the political tight rope walking in the Muslim world owes its gestation to two events; the Palestinian struggle and the Afghan war, both led media to create space. In the Afghan context the misnomers about Pakistan will have an inverse effect and will result in losing the same space.
Whose Self-defense is more significant? The meticulous news which appeared recently in Washington Post regarding Pakistan's nuclear arsenal has started a debate at national and international levels. It has started a discussion especially in western media, and now diverse conspiracy theories are coming up by different analysts. It was stated by Washington Post that Pakistan's nuclear arsenals now totals more than 100 deployed weapons and at this instant have an arsenal of up to 110 weapons, which were 30 to 60 weapons four years before. Analysts are saying that whenever US wants to increase pressure on Pakistan, its media and government come up with such news and reports which can exploit Pakistan's position. Currently US is exploiting Pakistan's nuclear arsenals issue because of two reasons, Firstly due to Raymond Davis issue and secondly due to Pakistan's stance on Fissile Material Cut-off Treaty (FMCT) in Conference on Disarmament 2011. Just after the incident of Raymond Davis, US has started exerting tremendous pressure on Pakistan from different ways because US is asking for the diplomatic immunity of Davis while troika consisting of President, Prime Minister and Army Chief have decided to face every pressure from USA on Raymond Davis case and let the court to deal with the case. Since Pakistan has refused to release Raymond Davis, USA is indicating to adopt a policy
of neglecting Pakistan in Afghanistan affairs. First time a top US General has expressed his view that USA can now win Afghan War without Pakistan. On the other hand, in the opening session of Conference on Disarmament, US is exerting double pressure on Pakistan, first by including India in Nuclear Suppliers Group (NSG) and end that barrier which stops India from acquiring nuclear technology and material in the open market, Second by using international treaties (i.e. CTBT, FMCT) to force Pakistan to freeze Pakistani nukes at their current size and potential. Pakistan's ambassador and permanent envoy to the UN in Geneva, Zamir Akram sharply criticized the US stance for India and its "double standards and discrimination" for pushing a global treaty banning all future production of weapons-grade uranium and plutonium, as such treaty will affect Pakistan's minimum credible deterrence. These statements of Zamir Akram came in media on 25 January and right after few days on 31 January a detailed report regarding Pakistan nuclear arsenals appeared in Washington Post. It really seems astonishing that on one side US is seeking the immunity of a killer on the claim of self defense while on other side US is not ready to listen the selfdefense claim of a country, Isn't the selfdefense of a country more significant? Maimuna Ashraf, Rawalpindi
Fire in Lahore! The deadly Fire that broke out in Lahore on 7th February gutted many shops in Shah Almi market and adjacent area. As per news reports, the Fire fighting teams reached the spot but were unable to perform rescue operation due to poor and outdated equipment. We always face this situation whenever, a natural catastrophe occurs. It has been reported that Rescue 1122 staff was engulfed in flames and was rescued after hectic efforts of other Fire Brigade Contingent. How sweet it sounds when our Chief Minister says that he will turn Lahore into Istanbul (earlier Paris). We pray that such transformation may take place as soon as possible but for the time being, in Lahore, the basic amenities of
life are completely missing. Seldom, we see Fire extinguishing equipment at public places, markets or even at Petrol Pumps. If, luckily, there is any, be rest assure that it would be out dated or out of order. The same flaw has been exposed in Lahore Fire that burnt markets causing loss of billions to business community. Not going for comprehensive insurance is another shortcoming of most of our small businessmen that results in to complete depletion of resources. Concerned Municipal authorities are requested to make ample arrangements to tackle successfully such sudden calamity in future. IFTIKHAR SHAHEEN MIRZA, ISLAMABAD
5
Wednesday, February 9, 2011
Middle East stocks
European shares edge lower after China rate move
US Stocks late-morning
KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,427.36 12,360.94 66.42 0.53 94.36
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,796.34 3,753.20 43.14 1.14 4.38
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,052.90 3,033.15 19.75 0.65 0.10
Major Gainers
Symbol
Close
Change
RMPL 2,667.65 UPFL 1,157.84 NESTLE 3,449.75 IDYM 277.73 FZTM 422.01
127.03 50.75 16.41 7.73 7.01
Major Losers
Symbol
Close
Change
ULEVER 4,405.94 SHEZ 192.90 BATA 642.17 NRL 283.19 MTL 545.46
-17.66 -10.15 -7.93 -6.85 -5.84
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA SSGC NICL FFBL DSFL
16.49 27.20 2.70 41.50 3.23
16.81 11.46 9.27 5.02 4.00
Active Issues Plus Minus Unchanged
148 228 26
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)
Weak as investors cut emerging market positions
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
flat; Indian shares at MTS-vow misfires America China move 7-mth closing low on in ‘Davis-shot’ KSE weighs energies Nawaz Ali
KARACHI: Despite assurance by the apex regulator chief on launch of MTS, Karachi Stock Exchange (KSE) was full of bear grunts the whole session on Tuesday. Investors chose to book profits fearing a probable estrangement in Pak-US relations on Raymond Davis row. The benchmark KSE 100Index fell down by 66 points to close at 12,360 points, KSE 30Index by 80 points to close at 12,004 points and KSE AllShare by 43 points to close at 8,571 points. "Fears for a holdup in Pakistan-America bilateral ties until US consulate employee accused of double-murder is freed affected sentiments", said Ahsan Mehanti, Director Arif Habib Investments. Investors were also concerned over rising circular debt in Pakistan's energy sector and a decline in international oil prices
SECP pins fines on defaulters ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) Tuesday imposed a fine on 29 defaulting listed and unlisted companies. The SECP issued 38 showcause notices for non-compliance with various provisions of 1984 Companies Ordinance in order to safeguard the interest of investors and stakeholders and to develop corporate governance culture in the country, a press release said. In addition, proceedings against four companies were closed with warnings. The department imposed penalties worth Rs 1.969 million on 29 listed and unlisted companies under the provisions of 1984 Companies Ordinance. Sixty-two investors' complaints were also resolved during the month.-APP
Red ink all over Zeal Pak KARACHI: Zeal Pak has reported a higher loss after tax of Rs561.730 million for the year ending June 30, 2010. According to financial results of the company despatched to Karachi Stock Exchange (KSE) here Tuesday, the loss before tax also surged to Rs560.590 million as loss per share increased to Rs1.31 during the period under review.-APP
FTSE jumps on banks, miners, oils LONDON: Britain's leading share index jumped higher on Tuesday, ending at levels not seen since May 2008, supported by rallies from banks and miners, and by gains in energy issues following results from BG Group. At the close, the FTSE 100 index was up 40.30 points, or 0.7 per cent at 6,091.33, its fifth gain in the last six trading sessions. Banks were higher, led by part-nationalised Lloyds Banking Group up 2.1 per cent, sidestepping news that Britain has slapped an extra 800 million pound tax on lenders. The British government said on Tuesday it will impose the full amount of a planned levy on bank balance sheets this year, instead of phasing it in. "It is likely to remain more of a political football than See # 13 Page 11
near $87 per barrel, he added. After a positive opening, market showed some mixed activities during about first 20 minutes paying visits to both sides of the index. Thereafter, despite SECP chairman's assurance on the launch of MTS by the end of current month, investors preferred to trim down their portfolios as a result index went reeling into the negative zone. It should be noted that Chairman Securities & Exchange Commission of Pakistan (SECP) Mohammad Ali during his visit to Karachi Stock Exchange on Monday assured the general body of the exchange that the much-awaited leverage product would become available for by Feb 28. According to experts investors switched on cautious mode mainly over the reports of likely estrangement in Pakistan's ties with US with respect to Raymond Davis issue. Thus index then
remained in the negative zone till the bells closed the session at about 3:16 PST. It touched the lowest level of the day at 12,338 points (-ve 88 points) and finished close by. Experts say that we might see some improved activities in the coming days over the yet-tocome results of some banks and oil companies. MCB Bank and Pakistan State Oil are also scheduled to announce their corporate earnings this week. Volumes further reduced as 94.3 million shares traded during the day which is 14.7 million less as compared to a turnover of 109 million shares a day earlier. Lotte Pakistan stood as the volume leader with 16.81 million shares followed by Sui Southern Gas with 11.46 million shares and Nimir Industrial Chemical with 9.27 million shares. Out of total 402 active issues 228 declined and 148 advanced while 26 issues remained unchanged.
Nikkei at 9-mth top, Toyota to lift mood TOKYO: Japan's Nikkei average hit a new nine-month peak on Tuesday, extending gains for a third straight day as investors pile into riskier assets in developed economies on hopes for a steady economic recovery. Japan, the best-performing Asian market this year with a gain of around 4 per cent, has benefited from a shift into developed markets and strong earnings for OctoberDecember. Thomson Reuters Starmine data shows 61 per cent of Nikkei 225 firms that have released their results have met or beaten analysts' expectations for the latest quarter. The data was collected before the market closed. A survey of 23 analysts by Thomson Reuters I/B/E/S forecast annual operating profit of 489 billion yen for Toyota. For October-December, Toyota's operating profit was 99.07 billion yen, down from 189.1 billion yen a year earlier and beating an average estimate of 70.6 billion yen in a poll of nine analysts by Reuters. The Nikkei's advance has also been helped by weakness
in Chinese mainland markets, which have been jittery about the risk of further monetary tightening and reopen on Wednesday after the weeklong Lunar New Year holiday. The benchmark Nikkei ended up 0.4 per cent or 43.94 points at 10,635.98. It rose as high as 10,648.80, its highest since May 6. The broader Topix added 0.4 per cent to 944.00. The Nikkei has gained 4.0 per cent so far in 2011. The Standard & Poor's 500 Index has added 4.9 per cent, while Asian stocks outside Japan are nearly flat. Recent gains on the Nikkei have been underscored by decent trading volume. Around 2.14 billion shares changed hands on the Tokyo Stock Exchange's main board on Tuesday, in line with last week's average of 2.2 billion. M&A LIFT Sentiment also brightened after merger activity drove the Dow Jones industrial average and the Standard & Poor's 500 Index to their highest in two and a half years on Monday and See # 11 Page 11
HK shares down; HSBC at 52-wk high HONG KONG: Hong Kong stocks failed to sustain mild opening gains for a second session on Tuesday as property developers and local banks dipped while defensives such as telecoms outperformed. The benchmark Hang Seng fell 0.3 per cent to 23,484.3, with losses limited by a 0.9 per cent rise for index heavyweight HSBC, which hit a 52-week high. Some market players said talk that inflation in China could rise to as much as 6 per cent by March was fuelling concern over tightening, weakening investor conviction and capping trading volume. "Inflation and monetary tightening worries in Asian emerging markets have led to capital outflows," said Alan Lam, Greater China analyst at Julius Baer in Hong Kong. "This trend may continue in the foreseeable future." Since late last year, investors have steadily moved funds away from markets facing high price rise pressures to those where inflation is less of an issue, in particular developed markets. However, a trader at a large US investment bank in Hong
Kong said a possible pull-back for the S&P 500 , which rose to a 2-1/2 year peak on Monday even as volume fell, was a risk for Asian markets in the near term. A pick-up in merger activity drove the S&P 500 past the 1,313 mark and further into levels that prevailed before the financial crisis. In Hong Kong, heavyweight HSBC Holdings Plc rose 0.9 per cent, lending some support to the broader market, after overnight gains for its American Depositary Receipts. HSBC is up more than 11 per cent this year compared with a 1.8 per cent rise for the benchmark. However, the gains were not enough to offset weakness in local property developers, which fell as the authorities were reported to be stepping up efforts to cool property prices. Financial Secretary John Tsang would announce a plan to make more residential land available in the coming fiscal year when he delivers his budget speech on Feb. 23, local newspaper Ming Pao reported, citing sources. See # 12 Page 11
NEW YORK: Wall Street was little changed on Tuesday as an interest hike by China weighed on energy shares and major indexes faced resistance near 2 1/2-year highs. The S&P, which topped resistance at 1,313, faced a new hurdle around 1,325, with nearterm support at 1,300 and 1,295. The index reached its highest 2 1/2 years on Monday after three consecutive sessions of gains. In the latest move to battle inflation, China's central bank raised interest rates by 25 basis points, its second increase in six weeks. The S&P energy index fell 1 per cent to be the worstperforming sector on the index. "We need a breather at this point for a healthier market," said Randall Warren, president at Warren Financial Service in Philadelphia. "China is weighing on commodity prices and commodity stocks, but it's not weighing so much on the entire market," suggesting Wall Street has the momentum to move higher, Warren said. The Dow Jones industrial average was up 30.39 points, or 0.25 per cent, at 12,192.02. The Standard & Poor's 500 Index was up 1.43 points, or 0.11 per cent, at 1,320.48. The Nasdaq Composite Index was down 1.62 points, or 0.06 per cent, at 2,782.37. The Dow was being supported McDonald's Corp, which posted stronger-than-expected global sales at established restaurants as demand in Europe rebounded, coming in far above Wall Street estimates. The stock was up 3.4 per cent at $75.93. Merger activity continued for a second day with Kindred Healthcare Inc's planned acquisition of RehabCare Group Inc to create a post-acute healthcare services company. Kindred Healthcare jumped 24.6 per cent to $24.28 and RehabCare soared 44.2 per cent to $36.73. But Teva Pharmaceutical Industries' shares fell 5.8 per cent to $51.77 after the world's biggest maker of generic drugs reported results that fell short of forecasts.-Reuters
MUMBAI: Indian shares dropped 1.5 per cent on Tuesday to their lowest close in seven months, as rising borrowing costs and high inflation drove investors to cut their exposure and move elsewhere. Financials led the fall on worries higher interest rates would dampen demand for loans and hit their margins. Engineering and construction firm Punj Lloyd tumbled 10.8 per cent after it posted a net loss for the December quarter. Around 4.3 million shares changed hands on the BSE, nearly six times its 30-day average volume. Analysts said with foreign funds pulling out more than $1 billion from Indian
equities since the start of January, the outlook for the near term remained subdued. "The next big trigger is the budget," said Rakesh Rawal, head of private wealth management at Anand Rathi Financial Services, referring to India's annual budget that will be presented to parliament at the end of this month. "If the budget brings cheer, we may see positive reaction. But until then any decent upside does not seem likely." The 30-share BSE index fell 1.45 per cent or 261.49 points to 17,775.70, its lowest close since July 8. Twenty-five of its components lost ground. See # 9 Page 11
NIT actualises rich 1H results Shabbir Kazmi KARACHI: National Investment Trust (NIT) has announced excellent half yearly results and all the funds under its management have posted outstanding performance. According to details NI(U)T Fund has registered phenomenal growth of 143 per cent in net profit (excluding unrealised figures), NIT-SEF has earned net profit of Rs2,061 million (earning per unit of Rs7.04), NIT-EMOF has earned net profit of Rs215 million (earning per unit earning Rs4.58), NIT-GBF posted Rs139.2 million profit (earning per unit of Re0.45) and NIT-IF earned net income of Rs95.6 million (earning per unit of Re0.48). These details were divulged by Wazir Ali Khoja, Chairman and Managing Director of NIT. NI(U)T Fund During 1HFY11, NI(U)T has registered a phenomenal growth of 143% in net profit (excluding unrealized figures), which increased to Rs2,762 million from Rs1,135 million in 1HFY10 (earning per unit of Rs1.09). Fund's NAV increased
by 21.22 per cent to Rs31.42 from Rs25.92 as against an increase of 23.66 per cent in the benchmark KSE-100 Index. The Chairman stated that during this period, the Fund realised capital gains of Rs440 million against capital gains of Rs407 million realised in 1HFY10, thereby depicting a decent growth of 8.2 per cent. The Fund has earned dividend income of Rs911 million, up by 30 per cent, as compared to Rs702 million in the corresponding period last year. Furthermore, during 1HFY11, NI(U)T's gross sale (including CIPs) grew exceptionally at 131 per cent to Rs5,039 million. For the period 1HFY11, units worth Rs2,445 million were redeemed to the utmost satisfaction of unit holders without any recourse to the borrowing which is a record at least during the last ten years. During the period under review, 3,224 new accounts were opened, thereby increasing the total number of unit holders of NIT to 58,350. This shows the growing confidence of investors in NIT. See # 10 Page 11
ANNOUNCEMENTS Company Zeal Pak. Tandlianwala Sugar Ansari Sugar
Period Div/Bon/Right Yearly Yearly Yearly -
PAT (Rs in mn) -561.73 329.52 -194.61
EPS(Rs) -1.31 2.80 -7.97
Dhiyan
DULLNESS TO DWELL Zia Shaafi, Senior Equity Dealer Pearl Securities Market would remain a hostage of rangeboundness during the rest of the week. However, we might see the rise of a rally next week due to expected launch of Margin Trading System (MTS) from Feb 21. Moreover, that rally may take the index up to 14,000 level. Investors are recommended to lay out in bluechips. Apart from launch of MTS good corporate results form banks would also trigger the market. It would be lackluster today.
Mohammad Shakeel, Director Equity Sales Nael Capital Market is likely to move in a range of 200-300 points in the upcoming days. But the proper launching of MTS, stable relations between Pakistan and US and better than expected corporate results could trigger the market. Investors are advised to get into valued stocks at dips where my top picks are POL, ICI, NML, FFBL, FFC, NBP and UBL. Market would show dull activities today.
6
Wednesday, February 9, 2011
Market 94,357,625
Value
2,955,738,460
Trades
50,490
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
148 228 26 402
All Share Index
12,360.94 12,447.85 12,327.63 i66.42
Current High Low Change
KSE 30 Index
8,571.55 8,630.40 8,551.41 i43.97
Current High Low Change
KMI 30 Index Current High Low Change
12,004.27 12,099.81 11,974.81 i80.12
20,007.67 20,112.07 19,960.60 i87.69
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,583.28 Turnover 3,132,868 P/E (x) 11.44 Company
KSE 100 Index
Symbols
Volume
PE
Attock Petroleum 691 6.99 Attock Refinery 853 5.02 BYCO Petroleum 3921 Mari Gas Company 735 17.18 National Refinery 800 5.87 Oil & Gas Development 43009 11.60 Pak Petroleum 11950 7.79 Pak Oilfields 2365 7.59 Pak Refinery Limited 350 P.S.O 1715 4.91 Shell Gas LPG 226 Shell Pakistan 685 11.00
Open 388.46 123.98 10.01 129.55 290.04 172.55 214.41 331.14 102.25 290.70 32.35 214.59
High 389.90 125.40 10.05 130.45 291.90 173.25 214.60 331.49 107.36 291.39 32.48 215.97
High Low 1,588.38 1,562.87 Total cos Defaulter cos P/BV (x) ROE (%) 3.72 32.54 Low 385.02 122.82 9.90 126.15 282.00 170.26 212.02 327.80 101.60 286.15 31.50 212.00
Close Chg 386.59 123.17 9.91 126.76 283.19 171.49 212.97 329.21 102.33 290.01 31.62 214.52
-1.87 -0.81 -0.10 -2.79 -6.85 -1.06 -1.44 -1.93 0.08 -0.69 -0.73 -0.07
Close Change 1,573.11 -10.17 Listed cap Market cap 65,194.15 mn 1,211,740.83 mn Payout (%) Div Yield (%) 55.94 4.89 Last 60 days High Low
Volume 80305 969088 398192 40615 261853 128303 261216 473038 259433 625055 1105 32857
401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00
301.00 115.25 9.80 117.00 248.55 157.00 190.50 249.25 80.61 277.52 30.71 194.00
% Change -0.64 5-Day High 1,583.28 5-Day Low 1,564.72
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 -
-
CHEMICALS
Open 736.92 Turnover 215,950 P/E (x) 5.63 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
PE 7.17 38.04
Open 72.36 35.00
High 74.90 35.30
High Low 758.47 737.16 Total cos Defaulter cos P/BV (x) ROE (%) 1.44 25.53 Low 72.60 34.60
Close Chg 74.57 35.00
2.21 0.00
Close 754.58 Listed cap 3,242.17 mn Payout (%) 11.08
Volume 208588 7362
Change 17.66 Market cap 12,997.70 mn Div Yield (%) 1.97
Last 60 days High Low 76.65 39.45
68.00 32.36
Company
Company
Paid up Cap(mn)
High Low 1,617.81 1,587.83 Total cos Defaulter cos P/BV (x) ROE (%) 3.45 35.00
PE
Open
High
Low
Biafo Ind 200 4.88 BOC (Pak) 250 12.84 Clariant Pak 273 7.20 Dawood Hercules 1203 8.38 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.99 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.30 Fauji Fert.Bin Qasim 9341 7.83 Gatron Ind 384 2.52 Ghani Gases Ltd 725 8.71 ICI Pakistan 1388 8.45 Leiner Gelatine 75 Lotte Pakistan 15142 6.06 Mandviwala 74 Nimir Ind Chemical 1106 Pak Gum 42 Shaffi Chemical 120 Sitara Chem Ind 214 9.17 Sitara Peroxide 551 15.27 Wah-Noble 90 7.27
44.20 95.52 201.98 205.32 3.48 7.74 3.14 11.07 219.65 13.05 12.11 150.68 41.46 48.85 11.62 147.16 13.60 16.64 1.21 3.11 21.71 2.17 112.00 13.54 37.80
44.90 94.05 202.90 204.69 3.58 7.80 3.39 11.46 220.14 13.20 12.12 151.80 41.74 48.00 11.51 151.45 13.50 16.75 1.38 3.17 20.64 2.27 112.00 14.25 38.34
42.90 93.50 201.02 202.00 2.96 7.39 3.15 11.46 216.50 12.51 11.96 149.35 40.96 46.41 11.50 147.50 12.60 16.20 1.25 2.65 20.63 2.02 110.00 13.45 37.80
Close Chg 44.90 93.51 201.16 202.22 3.01 7.52 3.23 11.46 218.18 13.02 12.02 151.09 41.50 46.98 11.50 150.06 12.60 16.49 1.26 2.70 20.63 2.26 111.90 14.05 37.80
0.70 -2.01 -0.82 -3.10 -0.47 -0.22 0.09 0.39 -1.47 -0.03 -0.09 0.41 0.04 -1.87 -0.12 2.90 -1.00 -0.15 0.05 -0.41 -1.08 0.09 -0.10 0.51 0.00
Close 1,605.40 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 101 2400 12792 20130 1918199 1051983 3996142 300 1014444 1665196 246473 1288011 5018776 1084 10549 915693 501 16807562 5012 9274888 387 7835 449 543243 101
Change -2.40 Market cap 354,283.69 mn Div Yield (%) 4.96
59.20 103.94 213.30 215.00 3.74 9.25 4.24 11.98 222.80 15.87 12.64 157.90 43.99 52.00 13.07 158.49 20.95 16.80 2.45 3.17 28.20 3.10 139.40 14.69 41.99
41.11 75.02 151.55 165.73 2.37 6.61 1.52 9.15 177.80 12.51 9.16 108.80 32.50 39.00 11.00 132.00 9.99 11.55 1.01 1.40 17.01 2.02 105.00 12.70 32.00
% Change -0.15 5-Day High 1,607.80 5-Day Low 1,566.43
2010 Div BR (%) (%) 45 15 135 40 15 40 130 52.5 20 55 5 25 50
2011 Div BR (%) (%)
- 12.50 25B 25B 5B -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,053.91 Turnover 112,574 P/E (x) 5.39 Company
High Low 1,060.01 1,043.33 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 7.47
Close 1,047.32 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.44 6.75
16.10 43.90 37.83
16.10 46.00 38.00
15.77 43.00 37.79
15.86 -0.24 43.90 0.00 37.80 -0.03
109568 137 2869
Century Paper Pak Paper Product Security Paper
Change -6.59 Market cap 2,903.76 mn Div Yield (%) 4.69
Last 60 days High Low 19.69 48.90 47.70
14.95 39.00 37.70
% Change -0.63 5-Day High 1,059.35 5-Day Low 1,033.26
2010 Div BR (%) (%) 2533.33B 50 -
2011 Div BR (%) (%) -
Paid up Cap(mn)
PE
High Low 1,288.75 1,266.66 Total cos Defaulter cos P/BV (x) ROE (%) 1.18 25.35
Open
High
Low
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
144 5.30 71.40 101 5.93 198.70 247 36.51 39.62 626 9.51 135.50 890 2.19 56 4.66 194.00 598 21.28 24.01 450 3.13 4.51 200 6.72 4.32 1428 - 11.20 786 6.62 292.00 823 10.35 65.90 150 4.38 23.13
70.10 201.80 41.25 137.50 2.28 199.74 25.21 4.89 4.30 11.55 291.01 67.90 23.70
70.00 197.55 37.66 136.94 2.06 190.00 24.00 4.40 4.25 10.90 289.00 65.00 23.40
Close Chg
Close 1,271.48 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -8.71 Market cap 47,148.76 mn Div Yield (%) 4.37
Last 60 days High Low
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd International Ind Siddiqsons Tin
PE
565 3.03 675 1199 18.73 785 10.23
Open 29.10 2.59 52.00 9.00
High 29.80 2.60 52.00 9.39
Low 29.00 2.50 51.45 8.95
Close Chg 29.00 2.60 51.51 9.00
-0.10 0.01 -0.49 0.00
Close 1,028.32 Listed cap 3,596.11 mn Payout (%) 30.91
Change -5.97 Market cap 9,892.76 mn Div Yield (%) 9.51
Open 1,833.47 Turnover 94,896 P/E (x) 47.49 Company
Paid up Cap(mn)
Ansari Sugar Colony Sugar Mills Crescent Sugar Dewan Sugar Habib Sugar Habib-ADM Ltd J D W Sugar Mehran SugarXDXB Mirpurkhas Sugar Mirza Sugar XD National Foods Nestle Pakistan Noon Pakistan Noon Sugar Pangrio Sugar XD Premier Sugar XD Quice Food Rafhan Maize S S Oil Sanghar Sugar XD Shakarganj Mills Tandlianwala
244 990 214 365 750 200 539 157 84 141 414 453 48 165 109 38 107 92 57 119 695 1177
Last 60 days High Low
Volume 11784 26334 27150 1101
31.00 3.29 62.20 10.70
24.01 2.43 44.53 8.51
2010 Div BR (%) (%) 30 55 7.5
2011 Div BR (%) (%)
- 10.00 20B -
-
PE
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Flying Cement Ltd Frontier Ceramics 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
PE
Open
High
Low
1828 866 6.52 858 182 3257 956 22.45 982 13.08 948 3891 3651 120.50 6933 6.43 1760 77 4003 32 581 1288 13126 3234 6.41 5261 1.21 541 3.31 2228 200 361 798 434.25
3.04 51.63 2.36 20.48 11.71 10.06 1.73 2.00 2.11 29.28 4.59 1.65 2.18 5.99 0.66 60.09 6.26 3.27 71.66 2.65 4.25 6.56 6.94 8.33 18.17
3.09 52.60 2.80 20.20 12.71 10.00 1.86 2.25 2.19 29.39 4.70 1.79 2.48 6.35 0.69 62.90 6.20 3.29 71.75 2.70 4.50 6.90 6.94 8.15 17.45
2.96 51.38 2.40 19.95 11.13 9.80 1.60 2.00 2.05 28.85 4.60 1.70 1.74 5.00 0.50 60.00 6.15 3.18 71.00 2.60 4.50 6.50 6.94 8.00 17.30
Close 939.48 Listed cap 54,792.74 mn Payout (%) 19.04
Change -2.13 Market cap 67,038.91 mn Div Yield (%) 2.60
Close Chg
Volume
Last 60 days High Low
3.00 51.52 2.78 20.19 12.63 9.88 1.70 2.00 2.07 28.92 4.63 1.74 1.84 6.35 0.69 62.85 6.18 3.23 71.39 2.61 4.50 6.58 6.94 8.03 17.37
22157 8722 269 4908 1502 6890 834 201 21229 359292 254054 30077 5515 112 15503 260 2333 956749 330322 165833 125 31477 500 325 500
3.98 65.99 4.24 24.16 24.80 12.75 2.49 3.49 3.10 32.30 5.55 2.25 3.00 9.19 0.99 64.52 8.70 3.88 79.98 3.30 8.74 8.20 7.95 9.60 20.44
-0.04 -0.11 0.42 -0.29 0.92 -0.18 -0.03 0.00 -0.04 -0.36 0.04 0.09 -0.34 0.36 0.03 2.76 -0.08 -0.04 -0.27 -0.04 0.25 0.02 0.00 -0.30 -0.80
2.75 51.38 1.10 16.55 11.13 9.71 1.50 1.50 1.48 27.67 4.56 1.60 1.18 3.06 0.25 56.05 6.00 2.95 69.35 2.56 3.21 6.50 5.25 7.37 16.75
% Change -0.23 5-Day High 944.70 5-Day Low 927.39
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
2011 Div BR (%) (%) -
92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,010.46 Turnover 159,706 P/E (x) 1.90 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
% Change -0.05 5-Day High 1,021.92 5-Day Low 1,008.98
Last 60 days High Low
67.34 2.63 53.00 3.71 30.91
-3.54 0.11 0.44 0.36 -0.96
61211 16516 20401 19219 9964
83.23 3.30 56.45 4.05 33.71
52.50 1.82 45.30 2.40 17.10
20 25 -
25B 10B -
-
-
128.00 127.20 127.85 0.26 133.00 130.11 130.96 -1.07
2991 29404
143.00 144.50
103.52 102.51
-
-
-
-
High
Low
115 2.40 230 1067 4.87 389 47 17.17
70.88 2.52 52.56 3.35 31.87
70.00 2.68 55.00 3.84 32.90
67.34 2.47 52.42 3.25 30.31
2010 Div BR (%) (%)
2011 Div BR (%) (%)
66.01 155.25 15.00 96.00 1.20 150.00 21.00 4.40 4.01 10.60 231.00 63.30 18.70
Open
High
High Low 1,861.57 1,800.65 Total cos Defaulter cos P/BV (x) ROE (%) 14.39 30.30 Low
Close Chg
Close 1,837.00 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Last 60 days High Low
1500 6.99 4.05 109 5.70 2.50 7000 7.15 5.00 2008 5.59 1.60 37554 36.50 21.35 3190 13.00 11.50 3465 92.50 68.00 1325 68.49 52.60 271 68.22 44.13 1511 7.18 4.01 199 75.50 41.52 103 3570.00 1830.00 684 27.30 19.05 857 14.84 9.00 2050 6.99 3.10 11106 53.81 36.99 5500 3.70 2.05 230 2667.65 1800.00 500 3.85 2.50 3010 15.01 11.35 2976 7.88 4.06 8874 42.52 30.50
Open 1,110.02 Turnover 89,522 P/E (x) 3.17 Company
Paid up Cap(mn)
High Low 1,132.38 1,090.09 Total cos Defaulter cos P/BV (x) ROE (%) 0.34 10.64
PE
Open
High
Low
Gauhar Engineering Ltd 22 Hussain Industries 106 Pak Elektron 1219 3.51 Singer Pak 341 24.76 Tariq Glass Ind 231 2.66
0.75 6.12 14.01 21.00 22.36
0.60 7.12 14.15 22.05 22.70
0.60 6.05 13.73 21.50 21.80
Paid up Cap(mn)
(Colony) Thal AL-Qadir Textile Amtex Limited Artistic Denim Aruj Garments Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bilal Fibres Chenab Limited Colony Mills Ltd Crescent Textile D S Ind Ltd Dawood Lawrencepur Din Textile Ellcot Spinning Fazal Cloth Gadoon Textile XD Ghazi Fabrics Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres ICC Textile Idrees Textile Indus Dyeing Ishaq Textile Janana D Mal Khurshid Spinning Kohinoor Ind Kohinoor Spinning Kohinoor Textile Moonlite (PAK) Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Ravi Textile Reliance Cotton Reliance Weaving Rupali Poly Saif Textile Salman Noman Samin Textile Sana Ind Service Ind Shadman Cot Shahzad Textile Suraj Cotton Thal Limited Treet Corp Zephyr Textile Ltd Zil Limited
56 76 2594 840 62 133 4493 33 76 141 1150 2442 492 600 514 204 110 188 234 326 146 222 716 3105 100 180 181 97 43 132 303 1300 1455 22 1614 3516 560 174 250 103 308 341 264 42 267 55 120 176 180 180 307 418 594 53
0.60 6.38 13.92 22.04 22.20
-0.15 0.26 -0.09 1.04 -0.16
Volume
PE
Open
66 1.04 16.25 215 5.64 236.03 104 - 45.20 214 1.20 213 10.44 11.43 124 - 126.88 132 7.42 61.00 366 8.40 551.30
High
Low
Close Chg
16.19 15.71 16.18 -0.07 238.85 235.00 235.42 -0.61 44.99 43.10 44.99 -0.21 1.30 1.21 1.21 0.01 11.65 11.16 11.28 -0.15 132.00 120.55 128.75 1.87 62.50 61.99 61.99 0.99 553.90 543.00 545.46 -5.84
Volume 1020 1383 1279 23274 13672 253 600 25787
Last 60 days High Low 18.20 244.95 46.75 2.40 13.50 147.89 72.55 568.40
14.12 206.00 42.90 0.21 10.52 118.01 58.55 480.00
2010 Div BR (%) (%) 150 25 650
10B 25B325.00
-
-
Total Equity (Rs in mn)
5,654.56
MA (100-day)
2.54
Revenue (Rs in mn)
2,527.30
MA (200-day)
2.67
Interest Expense
1,806.71
1st Support
2.45
Loss after Taxation
(594.94)
2nd Support
2.25
EPS 09 (Rs)
1st Resistance
2.75
Book value / share (Rs)
2nd Resistance
2.85
PE 10 E (x)
Pivot
2.55
PBV (x)
(0.98) 9.23 0.29
JSBL closed up 0.21 at 2.65. Volume was 262 per cent above average (trending) and Bollinger Bands were 13 per cent narrower than normal. The company's loss after taxation stood at Rs404.872 million which translates into a Loss Per Share of Rs0.66 for the nine months of current calendar year (9MCY10). JSBL is currently 0.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of JSBL at a relatively equal pace. Trend forecasting oscillators are currently bearish on JSBL.
Maple Leaf Cement Factory Ltd
% Change 0.19 5-Day High 1,837.00 5-Day Low 1,809.74 2011 Div BR (%) (%) -
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
36.82
Total Assets (Rs in mn)
MA (10-day)
2.64
Total Equity (Rs in mn)
MA (100-day)
2.88
Revenue (Rs in mn)
26,094.94 4,134.21 13,630.51
MA (200-day)
3.20
Interest Expense
1st Support
2.60
Loss after Taxation
2nd Support
2.55
EPS 10 (Rs)
2,059.48
1st Resistance
2.70
Book value / share (Rs)
2nd Resistance
2.75
PE 11 E (x)
Pivot
2.65
PBV (x)
(2,583.96) (6.941) 11.11 0.24
MLCF closed down -0.04 at 2.61. Volume was 25 per cent below average and Bollinger Bands were 25 per cent narrower than normal. The company's loss after taxation stood at Rs618.798 million which translates into a Loss Per Share of Rs1.49 for the 1st quarter of current fiscal year (1QFY11). MLCF is currently 18.3 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of MLCF at a relatively equal pace. Trend forecasting oscillators are currently bearish on MLCF.
Southern Electric Power Co Ltd
6000 27848 34100 7622 13943
2010 Div BR (%) (%)
1.65 11.49 15.88 22.05 24.00
17.5
0.45 4.60 13.25 17.55 15.90
Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak
979 250 1707 165 200 100 96 306
- 200R
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
42.51
Total Assets (Rs in mn)
11,457.73
MA (10-day)
2.17
Total Equity (Rs in mn)
2,081.08
MA (100-day)
2.25
Revenue (Rs in mn)
5,541.96
MA (200-day)
2.79
Interest Expense
1st Support
2.11
Profit after Taxation
52.68
987.88
2.06
EPS 10 (Rs)
0.385
2.20
Book value / share (Rs)
15.23
Performance of SR Personal Goods Index
2nd Resistance
2.24
PE 11 E (x)
Pivot
2.15
PBV (x)
PE
Open
1.33 9.00 9.18 3.81 6.17 22.50 3.04 4.50 0.33 2.58 - 11.60 0.48 11.25 0.48 13.71 0.45 1.82 2.98 3.88 2.45 3.42 17.11 1.83 41.76 35.50 0.59 27.00 0.64 21.20 1.11 56.70 0.83 74.03 0.90 4.50 1.15 6.12 0.93 7.68 0.75 3.95 4.17 53.74 1.34 3.64 3.60 2.70 270.00 1.44 7.50 0.23 14.26 1.50 1.50 0.43 1.03 3.67 5.17 - 14.82 2.10 26.08 5.66 66.81 4.50 14.06 0.88 12.40 1.35 0.73 40.00 0.69 9.50 5.26 40.30 0.44 5.56 2.39 5.00 4.80 5.80 3.30 42.65 7.58 223.70 2.85 14.70 0.42 6.00 0.85 38.00 5.13 120.93 9.19 58.05 4.47 3.40 4.67 66.48
Paid up Cap(mn)
2011 Div BR (%) (%)
1st Resistance
High
High Low 1,000.66 985.71 Total cos Defaulter cos P/BV (x) ROE (%) 0.54 8.64 Low
Close Chg
1.33 1.32 1.33 0.00 8.38 8.38 8.38 -0.62 4.24 3.75 4.04 0.23 22.22 22.20 22.21 -0.29 4.50 4.50 4.50 0.00 2.64 2.41 2.41 -0.17 11.75 11.25 11.29 -0.31 12.25 11.44 11.69 0.44 14.60 13.60 13.78 0.07 1.66 1.31 1.66 -0.16 2.99 2.83 2.95 -0.03 2.60 2.21 2.48 0.03 18.10 17.30 17.78 0.67 1.79 1.70 1.73 -0.10 37.27 35.00 35.50 0.00 27.50 27.50 27.50 0.50 21.00 21.00 21.00 -0.20 59.53 55.00 58.96 2.26 76.80 73.50 75.71 1.68 5.50 4.70 5.49 0.99 6.45 6.00 6.01 -0.11 7.74 7.35 7.68 0.00 4.00 3.95 3.97 0.02 53.91 52.00 53.03 -0.71 1.14 0.80 0.81 -0.53 3.50 3.25 3.35 -0.25 283.50 256.70 277.73 7.73 8.00 8.00 8.00 0.50 14.98 14.00 14.00 -0.26 1.00 1.00 1.00 -0.50 1.66 1.45 1.53 0.03 1.50 1.10 1.19 0.16 5.17 5.01 5.14 -0.03 15.49 15.40 15.40 0.58 26.14 25.20 25.33 -0.75 67.24 65.70 65.98 -0.83 14.45 13.25 13.32 -0.74 12.00 11.95 12.00 -0.40 1.46 1.31 1.38 0.03 42.00 40.05 41.87 1.87 9.90 9.51 9.87 0.37 42.31 40.25 41.88 1.58 5.59 5.00 5.50 -0.06 5.65 5.50 5.64 0.64 6.69 5.72 5.76 -0.04 43.45 42.50 43.45 0.80 227.00 220.12 221.43 -2.27 15.70 14.65 15.65 0.95 7.00 6.80 7.00 1.00 38.35 38.00 38.00 0.00 121.00 120.00 120.00 -0.93 58.75 57.66 57.71 -0.34 3.41 3.40 3.40 0.00 69.80 68.00 69.80 3.32
Open 910.26 Turnover 42,131 P/E (x) 6.78 Company
10B -
% Change -0.29 5-Day High 1,112.44 5-Day Low 1,098.52
2nd Support
% Change -0.91 5-Day High 1,597.08 5-Day Low 1,556.23 2011 Div BR (%) (%)
-
25 25B 40 7010B 12.5R 35 20B 7.50 15 20B 10 12 450 12 10 10 600 15 -
Last 60 days High Low
Close 991.54 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -0.66 Market cap 139,635.84 mn Div Yield (%) 2.67
Last 60 days High Low
1009 1.50 1000 9.00 1672046 5.28 2000 24.59 200 5.50 650 3.00 3494000 12.84 39965 16.00 4949 15.10 209 2.80 7134 3.76 5602 2.97 8511 23.99 28630 2.10 52387 47.00 1500 28.20 172 21.78 1069 76.24 4828 76.80 5976 5.50 17789 8.86 1821 8.50 802 4.47 37370 55.00 302 2.70 4000 3.90 544 350.15 210 8.70 1001 18.00 6000 3.00 11153 2.00 3056 1.81 5502 5.97 194 15.49 1364322 26.58 978107 71.89 133309 14.45 520 12.40 20917 1.98 188 43.30 2749 10.34 74067 42.31 13512 6.85 4500 6.35 6003 7.00 227 49.66 409 276.50 3704 15.70 900 7.05 3501 41.95 4935 132.00 6785 63.30 10500 4.65 70885 69.80
PE
Open
8.41 96.70 6.87 88.01 13.79 77.00 7.48 26.80 7.20 9.25 7.59 33.50 12.68 156.69 5.41 60.25
High
High Low 920.38 904.96 Total cos Defaulter cos P/BV (x) ROE (%) 1.51 22.31 Low
Close Chg
96.80 95.85 95.99 -0.71 92.41 88.05 91.00 2.99 77.60 76.50 76.68 -0.32 27.29 26.80 27.00 0.20 9.40 8.50 8.93 -0.32 34.00 32.00 34.00 0.50 161.00 156.00 159.33 2.64 60.97 60.20 60.21 -0.04
Close 910.44 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 6200 12875 4149 4047 9714 989 3958 199
Change 0.18 Market cap 30,526.71 mn Div Yield (%) 6.57
Last 60 days High Low 112.50 94.90 89.98 30.48 9.99 35.70 164.99 69.00
2010 Div BR (%) (%)
0.56 4.05 10 3.65 30 19.10 20 4.10 1.32 7.5 9.20 8.10 - 15B 12.30 20 1.00 2.82 2.11 16.86 15 1.55 35.00 5 24.02 20 10B 18.51 35 42.40 100SD 47.00 70 2.80 10 5.26 10 6.30 10 20B 3.31 10 36.00 20 0.32 2.70 10 188.01 50 4.99 8 13.39 1.00 0.75 0.16 5 4.81 4.50 21.15 15 52.80 25 45R 6.21 8.00 10 10B 0.65 32.75 20 8.50 25SD 32.50 40 3.90 2.01 5B 5.11 - 100R 31.56 60 180.11 7.00 4.01 5 32.60 50 95.10 80 20B 50.50 3.01 42.30 35 -
PHARMA AND BIO TECH Change -14.54 Market cap 34,206.11 mn Div Yield (%) 15.36
2010 Div BR (%) (%)
Change -3.18 Market cap 5,268.61 mn Div Yield (%) 1.98
Performance of SR Pharma and Bio Tech Index
Close 1,582.04 Listed cap 1,336.62 mn Payout (%) 131.49
20B 20B
2.42
PERSONAL GOODS Open 992.20 Turnover 8,122,025 P/E (x) 6.25 Company
Close Chg
Close 1,106.84 Listed cap 3,763.71 mn Payout (%) 6.27
INDUSTRIAL ENGINEERING High Low 1,605.18 1,573.45 Total cos Defaulter cos P/BV (x) ROE (%) 3.25 38.02
90 100 60 20 150 10
Change 3.53 Market cap 277,952.12 mn Div Yield (%) 0.64
Performance of SR Industrial Engineering Index
Paid up Cap(mn)
Ados Pak AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB
Change -0.50 Market cap 37,908.15 mn Div Yield (%) 8.16
Volume
Open
844 65.56 127.59 300 9.55 132.03
Close 1,009.96 Listed cap 3,043.31 mn Payout (%) 15.55
Close Chg
PE
Open 1,596.58 Turnover 67,368 P/E (x) 8.56 Company
High Low 1,021.15 1,004.53 Total cos Defaulter cos P/BV (x) ROE (%) 0.84 43.91
82.63 205.00 41.30 143.80 2.89 217.44 26.74 5.36 5.75 13.40 309.73 77.90 24.00
32,894.92
MA (10-day)
HOUSEHOLD GOODS
Performance of SR Construction and Materials Index High Low 951.22 928.96 Total cos Defaulter cos P/BV (x) ROE (%) 0.52 7.10
1190 6475 263 300 159712 812 5000 508 2000 3714 28000 9415 1640
2011 Div BR (%) (%)
Total Assets (Rs in mn)
Performance of SR Household Goods Index
CONSTRUCTION AND MATERIALS Open 941.61 Turnover 2,219,196 P/E (x) 7.32
-1.40 -0.09 1.27 1.48 -0.07 -3.88 0.68 -0.01 -0.02 -0.28 -2.12 -0.90 0.32
5.55 5.25 5.00 5.25 -0.30 7.03 3.17 4.00 2.61 2.81 -0.36 0.63 6.48 6.95 6.25 6.25 -0.23 2.91 3.19 2.86 2.90 -0.01 9.15 23.29 23.80 22.90 23.06 -0.23 7.44 12.30 12.20 12.15 12.20 -0.10 1.28 72.71 75.75 72.00 72.30 -0.41 1.82 56.00 56.00 55.11 55.96 -0.04 3.22 52.50 51.50 49.88 51.49 -1.01 4.60 4.60 4.26 4.50 -0.10 21.16 56.90 56.70 56.65 56.70 -0.20 37.89 3433.34 3498.00 3402.00 3449.75 16.41 3.39 23.50 24.00 23.00 23.74 0.24 1.18 10.97 11.00 10.81 11.00 0.03 3.69 4.05 3.90 3.95 0.26 - 41.98 43.44 39.89 43.34 1.36 7.11 3.30 3.50 3.10 3.13 -0.17 4.23 2540.62 2667.65 2426.10 2667.65 127.03 0.25 2.90 2.91 2.91 2.91 0.01 2.21 12.25 12.00 11.80 12.00 -0.25 0.39 5.06 5.48 4.61 5.43 0.37 14.68 40.10 42.00 40.10 41.11 1.01
-
% Change -0.58 5-Day High 1,037.55 5-Day Low 1,026.60
70.00 198.61 40.89 136.98 2.12 190.12 24.69 4.50 4.30 10.92 289.88 65.00 23.45
2010 Div BR (%) (%)
% Change -0.68 5-Day High 1,280.19 5-Day Low 1,267.82
60.50
FOOD PRODUCERS
INDUSTRIAL METALS AND MINING High Low 1,046.22 1,026.37 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 33.10
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
Performance of SR Food Producers Index
Performance of SR Industrial Metals and Mining Index Open 1,034.29 Turnover 66,369 P/E (x) 3.25
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,607.80 Turnover 41,637,601 P/E (x) 9.84
-
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,280.19 Turnover 219,039 P/E (x) 4.67
JS Bank Limited
% Change 2.40 5-Day High 754.58 5-Day Low 713.47
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
94.00 82.20 69.85 24.15 7.16 32.00 116.00 58.70
2010 Div BR (%) (%) 20 30
20B -
% Change -0.07 5-Day High 992.20 5-Day Low 984.41 2011 Div BR (%) (%) -
-
% Change 0.02 5-Day High 910.44 5-Day Low 903.11 2011 Div BR (%) (%) 15 -
-
0.14
SEPCO closed down -0.05 at 2.12. Volume was 46 per cent below average and Bollinger Bands were 56 per cent narrower than normal. The company's loss after taxation stood at Rs86.56 million which translates into a Loss Per Share of Rs0.63 for the 1st quarter of current fiscal year (1QFY11). SEPCO is currently 24.0 per cent below 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 SEPCO at a relatively equal pace. Trend forecasting oscillators are currently bearish on SEPCO.
Lafarge Pakistan Cement Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
44.03
Total Assets (Rs in mn)
19,704.24
MA (10-day)
3.26
Total Equity (Rs in mn)
9,763.73
MA (100-day)
3.14
Revenue (Rs in mn)
8,129.96
MA (200-day)
3.09
Interest Expense
1st Support
3.21
Loss after Taxation
2nd Support
3.14
EPS 09 (Rs)
1,230.81
1st Resistance
3.32
Book value / share (Rs)
2nd Resistance
3.36
PE 10 E (x)
Pivot
3.25
PBV (x)
(1,278.96) (0.974) 7.44 0.43
LPCL closed down -0.04 at 3.23. Volume was 62 per cent below average (consolidating) and Bollinger Bands were 4 per cent narrower than normal. The company's loss after taxation stood at Rs1.045 billion which translates into a Loss Per Share of Rs0.80 for the nine months of current calendar year (9MCY10). LPCL is currently 4.5 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of LPCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on LPCL.
BOOK CLOSURES Company
From
To
(TFC) Saudi Pak Leasing Dewan Farooque Motors # (TFC) Allied Bank (TFC) Pakarab Fertilizers Int Ind (Consolidated) KASB Cash Fund Kohinoor Mills # Ideal Energy # Olympia Spng & Weaving Mills # Millat Tractors Shadman Cotton Mills Reliance Cotton Spng Mills # Mehran Sugar Mills Frontier Ceramics Gharibwal Cement Descon Oxychem # Int Industries # Pakistan Oilfields Fauji Fertilizer Attock Petroleum (TFC) Searle Pakistan Pakistan Petroleum Pakistan Petroleum (Pref)
10-Feb 14-Feb 14-Feb 15-Feb 16-Feb 16-Feb 17-Feb 18-Feb 18-Feb 18-Feb 19-Feb 19-Feb 21-Feb 21-Feb 21-Feb 21-Feb 22-Feb 23-Feb 24-Feb 24-Feb 03-Mar 03-Mar
21-Feb 27-Feb 28-Feb 24-Feb 24-Feb 26-Feb 26-Feb 24-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 01-Mar 01-Mar 04-Mar 09-Mar 09-Mar 09-Mar
D/B/R
Spot AGM/Date
15(I) 08-Feb 325(I) 09-Feb 5 10-Feb 7.5(I) 10-Feb 100(I) 11-Feb 35(F) 25(B) 14-Feb 115(I) 15-Feb 50(I) 23-Feb 30(I) -
21-Feb 24-Feb 26-Feb 26-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 24-Feb 01-Mar -
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan CablesXD TRG Pakistan Ltd. Murree Brewery Lakson Tobacco Pak Tobacco Shifa Int.Hosp. P.I.A.C.(A) Pak Services AKD Capital Pace (Pak) Ltd. Netsol Technol.
Open 53.4 3.74 87.1 196.94 113.46 34 2.1 148.05 39.69 2.68 19.06
High 55.5 3.99 87.4 205.9 112.75 35.6 2.18 148.05 41.67 2.81 19.6
Low Close 51.55 3.67 86.7 193 110.03 34 2.1 148.05 39.75 2.71 19.11
52 3.7 87 199.99 110.03 34.52 2.16 148.05 41.67 2.75 19.18
Change -1.4 -0.04 -0.1 3.05 -3.43 0.52 0.06 0 1.98 0.07 0.12
Vol 111 4011716 2277 1031 4709 1996 19024 1000 4810 177993 659277
7
Wednesday, February 9, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,114.61 Turnover 595,491 P/E (x) 5.99 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,121.63 1,098.85 Total cos Defaulter cos P/BV (x) ROE (%) 0.77 12.84
PE
Open
High
Low
Close Chg
78 4.90 37740 12.43 3000 0.63 8606 6175 -
77.03 18.89 2.17 2.68 3.58
79.77 18.99 2.23 2.75 3.65
79.00 18.60 2.10 2.62 3.51
79.46 18.64 2.11 2.64 3.53
2.43 -0.25 -0.06 -0.04 -0.05
Close 1,101.23 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 3500 472882 119109 225990 270588
Change -13.38 Market cap 76,054.98 mn Div Yield (%) 10.44
% Change -1.20 5-Day High 1,117.64 5-Day Low 1,099.15
Last 60 days High Low
2010 Div BR (%) (%)
82.99 20.65 2.67 3.45 4.65
80 17.5 1 -
76.50 18.19 2.01 2.41 3.35
2011 Div BR (%) (%)
-
-
-
Ask Gen Insurance Atlas Insurance
204 369
6.21 5.96
10.89 37.48
10.24 37.48
10.24 37.00
10.24 -0.65 37.48 0.00
2000 593
12.75 40.00
10.00 33.11
-
25R -
-
-
Central Insurance XB Century Insurance
279 457
7.87 6.41
71.77 10.00
74.69 10.48
68.50 10.24
69.23 -2.54 10.25 0.25
715 14405
83.00 11.99
54.10 9.65
10 -
10B -
-
-
1250 400
3.15
42.35 13.45
42.90 13.45
41.10 13.02
41.43 -0.92 13.21 -0.24
12759 3022
47.90 15.50
38.50 11.01
-
-
-
-
EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance
718 17.60 791 15.82
94.86 58.35
94.99 59.45
93.75 58.40
94.84 -0.02 58.68 0.33
3565 300
99.88 61.80
81.10 55.10
10 -
20B -
-
-
Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd
3000 45.23 250 2.00 350 -
18.01 7.50 8.30
18.15 8.50 9.00
17.53 8.25 8.30
17.64 -0.37 8.48 0.98 8.99 0.69
264025 2800 5491
19.40 9.95 10.75
15.36 6.01 3.10
-
-
-
-
Premier Insurance
303
6.05
11.31
11.21
11.15
11.19 -0.12
7560
12.93
9.40
-
-
-
-
United Insurance XB
400
2.20
6.74
6.70
6.70
6.70 -0.04
402
7.80
5.00
-
-
-
-
LIFE INSURANCE
ELECTRICITY
Paid up Cap(mn)
Company
PE
Altern Energy 3426 25.80 Genertech 198 Hub Power 11572 7.14 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 9.83 Kot Addu Power 8803 5.20 Nishat Chunian Power Ltd 3673 3.63 Nishat Power Ltd 3541 28.19 S G Power 178 Sitara Energy Ltd 191 3.17 Southern Electric 1367 Tri-star Power XD 150 -
Open
High Low 1,355.00 1,324.58 Total cos Defaulter cos P/BV (x) ROE (%) 1.40 9.35
High
11.35 0.70 39.20 1.71 2.93 17.34 43.43 16.85 17.88 1.29 17.02 2.17 0.95
11.35 0.76 39.25 1.74 2.95 18.20 43.50 16.90 17.94 1.80 17.27 2.19 0.95
Low 10.40 0.67 38.58 1.65 2.81 17.35 42.70 16.50 17.40 0.43 17.00 2.10 0.77
Close Chg 11.35 0.75 39.00 1.70 2.89 17.70 42.82 16.54 17.48 0.82 17.01 2.12 0.82
0.00 0.05 -0.20 -0.01 -0.04 0.36 -0.61 -0.31 -0.40 -0.47 -0.01 -0.05 -0.13
Close 1,340.60 Listed cap 95,369.29 mn Payout (%) 104.13
Volume 5001 20772 287008 85086 405284 11247 188085 528898 351469 12702 24500 214142 540
Change -10.23 Market cap 109,625.06 mn Div Yield (%) 6.97
Last 60 days High Low 11.45 1.18 41.20 2.15 3.55 22.85 45.85 18.01 18.70 2.10 19.35 2.80 1.49
9.00 0.66 33.40 1.50 2.11 17.25 39.00 13.32 14.25 0.43 16.50 2.05 0.70
% Change -0.76 5-Day High 1,350.84 5-Day Low 1,291.33
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
-
GAS WATER AND MULTIUTILITIES
Open 760.51 Turnover 35,240 P/E (x) 5.45
High Low 770.32 743.89 Total cos Defaulter cos P/BV (x) ROE (%) 3.29 3.85
Close 747.31 Listed cap 2,290.72 mn Payout (%) 355.53
Change -13.20 Market cap 8,788.55 mn Div Yield (%) 4.15
PE
East West Life
500
-
2.25
2.16
2.15
2.15 -0.10
3274
4.62
1.52
-
20R
-
-
EFU Life Assurance
850 34.90
62.96
63.85
61.00
61.43 -1.53
28708
86.95
61.00
-
-
-
-
New Jub Life Insurance
627 28.19
42.14
42.80
42.00
42.00 -0.14
3258
49.31
40.51
-
-
-
-
Open
High
Low
Close Chg
Last 60 days High Low
Company Sui North Gas Sui South Gas
High Low 1,722.69 1,660.35 Total cos Defaulter cos P/BV (x) ROE (%) 1.23 11.41
Volume
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
5491 8390
7.88 4.10
26.81 25.91
27.14 27.20
26.32 26.05
26.46 -0.35 27.20 1.29
2017922 34.75 11457121 27.20
Change 29.22 Market cap 37,349.26 mn Div Yield (%) 6.21
Last 60 days High Low 25.71 19.95
% Change 1.75 5-Day High 1,700.89 5-Day Low 1,552.64
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,175.27 Turnover 9,681,122 P/E (x) 8.37 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 7.00 72.87 Askari Bank 6427 7.92 17.15 Bank Alfalah 13492 14.49 11.39 Bank AL-Habib 7322 7.80 36.25 Bank Of Khyber 5004 5.53 4.00 Bank Of Punjab 5288 8.36 BankIslami Pak 5280 945.00 3.84 Faysal Bank 7327 4.60 14.39 Habib Bank Ltd 10019 7.80 124.86 Habib Metropolitan Bank 8732 7.86 25.65 JS Bank Ltd 8150 2.44 KASB Bank Ltd 9509 1.72 MCB Bank Ltd 7602 9.97 228.28 Meezan Bank 6983 9.77 18.60 Mybank Ltd 5304 2.70 National Bank 13455 6.73 77.63 NIB Bank 40437 2.80 Samba Bank 14335 1.81 Silkbank Ltd 26716 2.50 Soneri Bank 6023 6.91 Stand Chart Bank 38716 11.48 7.51 Summit Bank Ltd XR 7251 3.39 United Bank Ltd 12242 7.72 66.90
High
High Low Close 1,181.94 1,156.70 1,163.53 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.17 13.94 40.49 Low
Close Chg
72.50 71.62 72.00 -0.87 17.30 16.26 16.63 -0.52 11.52 11.26 11.30 -0.09 36.64 36.15 36.20 -0.05 4.19 4.09 4.15 0.15 8.62 8.15 8.58 0.22 3.95 3.65 3.78 -0.06 14.50 14.15 14.25 -0.14 125.20 123.70 124.93 0.07 25.95 25.10 25.69 0.04 2.65 2.35 2.65 0.21 1.74 1.66 1.70 -0.02 229.09 224.75 224.97 -3.31 18.60 18.45 18.46 -0.14 2.80 2.55 2.64 -0.06 77.80 76.91 77.04 -0.59 2.80 2.70 2.75 -0.05 1.90 1.89 1.89 0.08 2.61 2.47 2.54 0.04 7.00 6.80 6.82 -0.09 7.51 7.35 7.46 -0.05 3.58 3.25 3.51 0.12 67.00 65.30 65.71 -1.19
Volume
Change -11.74 Market cap 704,986.59 mn Div Yield (%) 4.84
Last 60 days High Low
69516 74.00 1305204 19.25 188635 11.99 132641 39.49 24367 4.70 3967571 10.59 31333 4.50 42671 17.10 414286 128.97 10455 29.28 706252 3.00 67697 2.80 613089 250.48 5785 20.30 46414 3.40 610839 80.61 319741 3.35 8000 2.17 689877 3.05 74210 8.48 10686 9.04 772759 4.63 341852 70.65
56.60 15.53 9.48 31.50 3.62 7.98 3.00 13.55 102.55 20.40 2.30 1.49 199.00 14.52 1.90 65.26 2.63 1.70 2.44 6.80 6.75 2.70 57.05
% Change -1.00 5-Day High 1,178.22 5-Day Low 1,158.35
2010 Div BR (%) (%)
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 799.80 Turnover 559,619 P/E (x) 13.11 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 26.70
Open 91.92
High 92.50
High Low 806.85 786.95 Total cos Defaulter cos P/BV (x) ROE (%) 0.68 5.20 Low 90.78
Close Chg 92.10 0.18
Close 795.43 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 241978
Change -4.37 Market cap 48,800.43 mn Div Yield (%) 6.07
Last 60 days High Low 96.40
77.50
% Change -0.55 5-Day High 799.80 5-Day Low 762.70
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
2011 Div BR (%) (%)
Performance of SR Financial Services Index Open 411.21 Turnover 2,480,009 P/E (x) 11.74 Paid up Cap(mn)
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Grays Leasing IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Sec Inv Bank Security Leasing Trust Inv Bank
2011 Div BR (%) (%)
20 - 20B - 66R 55 -63.46R 10 -
2010 Div BR (%) (%)
FINANCIAL SERVICES
Company
Close 1,700.89 Listed cap 12,202.80 mn Payout (%) 66.79
% Change -1.74 5-Day High 773.50 5-Day Low 747.31
Paid up Cap(mn)
Company
High Low 415.61 398.78 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91
PE
Open
High
Low
225 1.39 360 4.13 450 12.86 3750 4.70 150 1.25 215 2121 15.06 600 727.00 2849 3166 7633 508 500 7.22 1000 27.79 1000 821 4.71 775 514 11.80 363 586 2.34
0.63 21.88 25.30 25.84 1.39 3.00 2.59 7.22 0.60 3.19 11.64 3.83 26.85 6.69 4.25 6.30 1.90 2.89 1.20 1.24
0.70 21.96 25.50 26.09 1.40 2.22 2.59 7.27 0.65 3.18 11.78 4.00 26.92 6.70 4.49 6.40 1.97 3.30 1.30 1.50
0.60 20.82 25.15 25.51 1.30 2.22 2.27 7.25 0.65 3.00 11.27 3.70 26.01 6.65 4.21 6.20 1.90 2.88 1.30 1.50
Close Chg
Close 402.64 Listed cap 30,336.44 mn Payout (%) 99.56
Volume
Change -8.57 Market cap 18,679.59 mn Div Yield (%) 3.35
Last 60 days High Low
2010 Div BR (%) (%)
0.95 22.40 28.00 30.20 2.14 3.00 3.90 8.98 1.09 3.95 14.05 4.75 32.37 7.59 5.43 7.29 2.65 4.99 2.95 2.84
30 11.5 10 -
Performance of SR Gas Water and Multiutilities Index Open 1,671.67 Turnover 13,475,043 P/E (x) 10.76
CLOV FANM PECO SUTM FDIBL HUSS KML BATA ULEVER FZTM CHAS MFFL BTL SRSM MSOT CSM ICL AGSML PIAB LAKST BAWS FIMM ILTM PTEC SASML TREI CJPL IDSM TATM BUXL FDMF HWQS PAKMI SHJS WAZIR YOUW UPFL AASM DATM DIIL ISIL MUKT TOWL MTIL SFAT SSIC TICL TSBL UDPL ADAMS CSIL EMCO ESBL FNEL FPRM GAMON GATM GUTM GVGL JKSM KASBM NBF NMBL PHDL PICTPS PRET PRWM SALT SCLL
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,350.84 Turnover 2,134,734 P/E (x) 14.94
UPTO 100 VOLUME Symbols
0.61 21.00 25.20 25.58 1.40 2.22 2.41 7.27 0.65 3.03 11.33 3.83 26.84 6.67 4.41 6.40 1.96 2.95 1.30 1.50
-0.02 -0.88 -0.10 -0.26 0.01 -0.78 -0.18 0.05 0.05 -0.16 -0.31 0.00 -0.01 -0.02 0.16 0.10 0.06 0.06 0.10 0.26
4553 13682 18490 869406 1422 6001 12861 5065 205 160854 1662693 416807 800 44401 86798 8520 33566 1501 1000 715
0.33 16.80 24.76 23.35 1.15 0.18 2.26 6.22 0.46 2.95 10.36 3.51 25.00 6.20 3.80 5.51 1.84 2.00 1.01 1.24
% Change -2.08 5-Day High 411.21 5-Day Low 386.51 2011 Div BR (%) (%)
20B 20B 10B -
-
-
EQUITY INVESTMENT INSTRUMENTS
Company
Paid up Cap(mn)
PE
1st Fid Leasing 264 9.94 Allied Rental 600 3.23 AL-Meezan Mutual F. 1375 8.17 Atlas Fund of Funds 525 1.94 B F Modaraba 75 2.19 B R R Guardian Mod. 780 3.27 Elite Cap Modaraba 113 3.19 Equity Modaraba 524 12.19 First Capital Mutual Fund 300 8.75 Golden Arrow 760 2.33 H B L Modaraba 397 2.48 Habib Modaraba 1008 6.10 JS Growth Fund 3180 67.00 JS Value Fund 1186 1.31 Meezan Balanced Fund 1200 2.50 Mod Al-Mali 184 16.90 Nat Bank Modaraba 250 5.61 PICIC Energy Fund 1000 2.01 PICIC Growth Fund 2835 9.01 PICIC Inv Fund 2841 7.44 Prud Modaraba 1st 872 2.45 Stand Chart Modaraba 454 4.69
Open 1.60 16.00 9.96 4.52 3.31 1.49 2.90 1.95 3.50 3.25 7.95 7.00 5.39 5.65 8.90 1.74 6.05 7.27 14.38 6.61 1.10 9.60
High Low 1,432.76 1,392.77 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 2.21
High 1.90 15.25 9.90 4.81 4.00 1.50 3.15 2.10 3.50 3.26 7.44 7.25 5.50 5.79 8.95 1.70 6.06 6.99 14.44 6.70 1.09 9.75
Low 1.35 15.01 9.80 4.80 3.33 1.43 2.12 1.92 3.50 3.16 7.40 7.00 5.31 5.30 8.70 1.29 6.06 6.82 14.00 6.50 1.08 9.50
Close Chg 1.59 15.25 9.80 4.80 3.33 1.44 2.55 1.95 3.50 3.26 7.44 7.08 5.36 5.45 8.70 1.69 6.06 6.90 14.06 6.55 1.08 9.57
-0.01 -0.75 -0.16 0.28 0.02 -0.05 -0.35 0.00 0.00 0.01 -0.51 0.08 -0.03 -0.20 -0.20 -0.05 0.01 -0.37 -0.32 -0.06 -0.02 -0.03
Close 1,404.52 Listed cap 29,771.58 mn Payout (%) 104.74
Last 60 days High Low
Volume 1933 280 214285 29982 181 147 2420 20714 1400 56810 5300 5600 253579 281755 32056 12505 500 25275 204283 103837 500 9637
2.34 16.00 10.30 5.47 4.00 2.79 3.49 2.98 5.44 3.60 9.00 7.30 6.10 6.20 9.25 2.50 7.74 7.80 15.06 7.14 1.20 10.29
1.16 14.50 6.15 3.26 2.89 1.20 2.05 1.06 2.55 2.56 6.13 6.00 3.05 3.00 5.15 0.92 4.50 5.31 8.75 4.10 0.81 8.51
2010 Div BR (%) (%) 22.5 18.5 2.2 0 5 17 11 21 5 10 15.5 10 10 20 10 3 17
High 59.40 3.30 143.00 33.01 1.77 11.50 2.90 649.00 4474.00 429.50 10.40 79.94 59.12 4.25 19.40 0.66 24.07 6.10 3.26 280.00 5.50 60.20 110.25 2.00 9.50 1.90 1.16 9.20 42.00 11.24 2.18 17.71 1.10 53.60 7.50 1.40 1162.44 27.16 0.64 11.94 76.99 0.49 11.30 0.55 6.48 7.50 62.23 3.89 14.00 15.50 5.00 2.88 2.44 5.36 9.18 2.14 29.50 20.30 22.30 7.80 2.35 4.10 1.90 31.89 9.01 32.89 14.50 71.99 2.70
Low
Close
59.37 3.30 143.00 33.01 1.66 11.49 2.06 630.15 4311.01 415.00 9.00 76.01 58.95 3.65 18.00 0.53 24.07 5.50 1.54 258.51 5.50 60.20 110.25 2.00 9.50 1.90 0.90 7.72 39.15 11.10 2.03 17.71 1.07 53.60 7.50 1.40 1150.00 27.12 0.54 10.17 73.91 0.28 9.34 0.32 6.48 7.45 56.31 3.00 14.00 15.50 4.25 2.88 2.40 5.36 9.18 2.14 29.50 20.30 22.30 7.80 2.35 4.09 1.89 31.89 9.01 32.89 14.50 71.99 2.64
59.37 3.30 143.00 33.01 1.72 11.49 2.78 642.17 4405.94 422.01 9.01 76.01 59.12 3.88 18.10 0.66 24.07 5.63 3.26 266.52 5.50 60.20 110.25 2.00 9.50 1.90 1.01 8.15 39.63 11.24 2.03 17.71 1.07 53.60 7.50 1.40 1157.84 27.16 0.54 10.22 76.99 0.46 9.34 0.44 6.48 7.45 59.27 3.89 14.00 15.50 4.25 2.88 2.40 5.36 9.18 2.14 29.50 20.30 22.30 7.80 2.35 4.09 1.89 31.89 9.01 32.89 14.50 71.99 2.64
Change
Vol
-3.12 0.01 -1.33 -1.24 -0.02 0.20 0.18 -7.93 -17.66 7.01 -0.48 -0.13 2.81 0.00 -0.89 0.02 -0.95 0.52 1.00 -4.33 0.45 -2.75 5.25 0.00 0.00 0.30 -0.07 -0.08 -0.38 -0.86 0.18 -0.99 0.12 2.44 -0.40 0.00 50.75 -1.34 0.19 -0.72 -0.80 0.06 -0.99 -0.02 0.22 0.31 0.00 0.39 -0.24 0.00 0.25 -0.09 0.05 -0.71 0.38 0.64 0.00 1.00 -1.17 1.00 -0.65 0.23 0.39 -1.67 -0.99 1.19 0.75 3.15 0.24
100 100 100 80 70 70 65 63 57 50 43 43 33 31 27 25 20 16 16 11 10 10 10 10 10 10 8 8 6 5 5 5 5 5 5 5 4 3 3 3 3 3 3 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
Open
High
Low
Close
Change
Vol
ANL-FEB
11.67
11.75
11.32
11.38
-0.29
842000
FFBL-FEB
41.69
42.00
41.20
41.76
0.07
744500 313500
BOP-FEB
Change -17.11 Market cap 18,952.46 mn Div Yield (%) 7.64
62.49 3.29 144.33 34.25 1.74 11.29 2.60 650.10 4423.60 415.00 9.49 76.14 56.31 3.88 18.99 0.64 25.02 5.11 2.26 270.85 5.05 62.95 105.00 2.00 9.50 1.60 1.08 8.23 40.01 12.10 1.85 18.70 0.95 51.16 7.90 1.40 1107.09 28.50 0.35 10.94 77.79 0.40 10.33 0.46 6.26 7.14 59.27 3.50 14.24 15.50 4.00 2.97 2.35 6.07 8.80 1.50 29.50 19.30 23.47 6.80 3.00 3.86 1.50 33.56 10.00 31.70 13.75 68.84 2.40
8.30
8.65
8.22
8.57
0.27
ENGRO-FEB 221.05
220.40
217.70
219.44
-1.61
% Change -1.20 5-Day High 1,425.90 5-Day Low 1,363.20
FFC-FEBB
119.68
120.50
118.50
119.99
0.31
245000
NML-FEB
67.17
67.40
66.15
66.31
-0.86
238000
FFC-FEB
151.00
151.95
149.62
151.18
0.18
203500
POL-FEB
331.36
331.51
328.50
2011 Div BR (%) (%)
Performance of SR Equity Investment Instruments Index Open 1,421.63 Turnover 1,263,128 P/E (x) 21.29
Open
10B -
-
-
261500
329.75
-1.61
176000
NBP-FEB
78.10
78.15
77.30
77.51
-0.59
175500
PSO-FEB
292.01
293.00
288.00
290.81
-1.20
MCB-FEB
157000
229.85
229.85
226.02
226.35
-3.50
122000
NETSOL-FEB 27.07
27.30
26.21
26.35
-0.72
102000
DGKC-FEB
29.49
29.34
29.05
29.07
-0.42
69000
PPL-FEB
215.45
214.50
213.30
214.05
-1.40
POL-FEBB
322.71
323.00
319.55
320.01
-2.70
41500
UBL-FEB
67.53
66.50
66.00
66.13
-1.40
36500
LUCK-FEB
71.90
71.98
71.50
71.50
-0.40
NCL-FEB
26.48
26.90
25.35
25.50
-0.98
11000
AICL-FEB
92.34
92.50
91.50
92.23
-0.11
10500
OGDC-FEB
172.84
171.80
170.90
170.98
-1.86
47500
11000
4000
PTC-FEB
19.06
18.85
18.85
18.85
-0.21
4000
HUBC-FEB
39.50
39.02
39.02
39.02
-0.48
1000
Symbols
Open
High
Low
Close
AABS
97.87
96.95
96.95
96.95
-0.92
ACCM
0.94
0.89
0.89
0.89
-0.05
AGL
24.20
24.09
24.09
24.09
-0.11
0.00
ALICO
16.50
16.51
16.51
16.51
0.01
0.00
BAPL
8.36
8.20
8.20
8.20
-0.16
0.00
BROT
0.54
0.46
0.46
0.46
-0.08
0.00
CWSM
1.48
1.30
1.30
1.30
-0.18
0.00
DEL
1.89
1.85
1.85
1.85
-0.04
0.00
DSML
2.20
2.50
2.50
2.50
0.30
FCONM
1.48
1.45
1.45
1.45
-0.03
0.00
31.95
33.54
33.54
33.54
1.59
0.00
7.37
7.37
7.37
-0.07
0.00
ZERO VOLUME
FECS FECTC
7.44
Change
Vol 0.00 0.00
0.00
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
54.39
Support 1
12,309.75
MA (5-day)
12,361.02
Support 2
12,258.60
MA (10-day)
12,386.09
Resistance 1
12,430.00
11,252.82
Resistance 2
12,499.05
MA (100-day)
10,593.49
Pivot
major 1st resistance level at 12,430.00 and 2nd resistance level at 12,499.05, while Index will continue to find its 1st support level at 12,309.75 and 2nd support level at 12,258.60.
Fair Value 77
Neutral
AKD Securities Ltd
229.9
Neutral
139.5
Neutral
TFD Research
245.4
Positive
TFD Research
44.25
Neutral
TFD Research
Technical Outlook
AKD Securities Ltd
71.45
TFD Research
78.6
Leverage Position Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,567.95 ** NOI Rs (mn) 71.53 Mean 41.42
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis 49.97 66.12 57.69 52.75
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
64.22 151.44 119.96 113.87
Brokerage House
Buy
*Invest Cap
Accumulate
AKD Securities Ltd
Positive
TFD Research
* Target price for Jun-11 & **Net Open Interest in future market
175.80 11,599.28 71.10 66.43
* 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)
63.44 215.55 189.35 186.46
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 32,177.53 187.99 218.62
* Target price for Jun-11 & **Net Open Interest in future market
displaying an upward trend. Volatility is high as compared to the average is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect mod- volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into FFC (mildly bullish). Trend forecasting oscilla- erate flows of volume into ENGRO (mildly bullish). Trend forecasting osciltors are currently bullish on FFC.
National Bank of Pakistan
Fair Value
Rs Recommendations
402
Buy
AKD Securities Ltd
214.57
Reduce
*Invest Cap
52.4
Sell
301.82
Neutral
TFD Research
218.18
Neutral
AKD Securities Ltd
75.5
Neutral
354.2
Positive
TFD Research
92.3
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
lators are currently bullish on ENGRO.
MCB Bank Ltd
Brokerage House
43.66 293.84 282.95 277.70
Rs Recommendations
Brokerage House
77.49 22,474.02 147.10 289.56
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
44.79 228.50 211.61 204.44
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
304.09 68,410.23 132.69 226.77
* 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)
53.79 77.33 69.79 68.35
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.50 24,537.08 115.36 77.35
* Target price for Jun-11 & **Net Open Interest in future market
NML closed down -0.83 at 65.98. Volume was 79 per cent below average PSO closed down -0.69 at 290.01. Volume was 40 per cent below average MCB closed down -3.31 at 224.97. Volume was 45 per cent below aver- NBP closed down -0.59 at 77.04. Volume was 86 per cent below average (consolidating) and Bollinger Bands were 8 per cent narrower than normal. and Bollinger Bands were 52 per cent wider than normal.
age and Bollinger Bands were 42 per cent wider than normal.
(consolidating) and Bollinger Bands were 47 per cent narrower than normal.
NML is currently 25.1 per cent above its 200-day moving average and is PSO is currently 4.4 per cent above its 200-day moving average and is dis- MCB is currently 10.0 per cent above its 200-day moving average and is NBP is currently 12.7 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to playing a downward trend. Volatility is extremely high when compared to displaying a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low 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 volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of NML at a relatively equal pace. Trend reflect moderate flows of volume into PSO (mildly bullish). Trend forecast- flowing into and out of MCB at a relatively equal pace. Trend forecasting reflect volume flowing into and out of NBP at a relatively equal pace. Trend forecasting oscillators are currently bearish on NML.
ing oscillators are currently bearish on PSO.
oscillators are currently bearish on MCB.
forecasting oscillators are currently bearish on NBP.
Time
09-Feb 09-Feb 09-Feb 09-Feb 09-Feb 09-Feb 10-Feb 10-Feb 10-Feb 10-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 12-Feb
10:00 12:00 3:00 3:00 10:00 5:30 5:30 12:30 10:30 2:00 10:30 10:30 10:30 9:30 11:00 3:00 3:30 11:00 2:30 9:30
TECHNICAL LEVELS
FFC is currently 32.6 per cent above its 200-day moving average and is ENGRO is currently 17.1 per cent above its 200-day moving average and
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
373.19 56,385.26 54.17 150.73
Date
Pakistan State Oil Co Ltd NetSol Technologies Ltd Mubarak Textile Mills Ltd Cherat Papersack Ltd Shifa International Hospital Ltd IGI Aggressive Income Fund Sigma Leasing Corporation Ltd Pioneer Cement Ltd MCB Bank Limited IGI Investment Bank PICIC Growth Fund PICIC Investment Fund PICIC Energy Fund Meezan bank Limited Allied Bank Limited Cherat Cement Company Ltd Sanofi Aventis Pakistan Ltd Nishat Power Limited Ferozsons (Lab) Pakistan Pakistan PVC Limited
Company
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Hold
FFBL closed up 0.04 at 41.50. Volume was 10 per cent below average and FFC closed up 0.41 at 151.09. Volume was 23 per cent below average and ENGRO closed down -1.47 at 218.18. Volume was 51 per cent below averBollinger Bands were 19 per cent narrower than normal. Bollinger Bands were 44 per cent wider than normal. age (consolidating) and Bollinger Bands were 4 per cent wider than normal.
Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
210
Technical Outlook
Pakistan State Oil Co Ltd
Rs Recommendations
Rs Recommendations
145
AKD Securities Ltd
Nishat Mills Ltd
Brokerage House
Fair Value
*Invest Cap
tors are currently bullish on FFBL.
*Invest Cap
Brokerage House
Hold
Accumulate
61.70 41.05 34.08 31.16
Rs Recommendations
149
45.52
Technical Analysis
Fair Value
*Invest Cap
KSE 100 INDEX is currently 16.7 per cent above its 200-day moving FFBL is currently 33.3 per cent above its 200-day moving average and is average and is displaying a downward trend. Volatility is extremely low displaying an upward trend. Volatility is high as compared to the average when compared to the average volatility over the last 10 trading sesvolatility over the last 10 trading sessions. Volume indicators reflect modsions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently erate flows of volume into FFBL (mildly bullish). Trend forecasting oscillabearish on INDEX.
Brokerage House
Hold
AKD Securities Ltd
12,378.80
than normal. As far as resistance level is concern, the market will see
Rs Recommendations
39
RSI (14-day) MA (10-day) KSE 100 INDEX closed down -66.42 points at 12,360.94. Volume was 33 MA (100-day) per cent below average and Bollinger Bands were 41 per cent narrower MA (200-day) MA (200-day)
Fair Value
*Invest Cap
Engro Corporation
Fauji Fertiliser Co
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 44.68 2.95 2.90 55.99 71.60 71.15 11.27 51.05 50.60 46.04 25.35 25.15 40.58 25.05 24.95 53.81 91.10 90.05 36.94 16.15 15.70 53.81 11.10 10.95 63.26 384.45 382.30 40.79 122.20 121.20 51.37 11.20 11.10 47.58 3.65 3.50 38.57 8.30 8.00 49.30 2.00 1.95 42.82 28.70 28.50 59.46 3.15 3.00 46.59 2.50 2.45 48.31 40.70 40.00 21.18 60.35 59.25 63.44 216.40 214.65 40.54 14.10 13.95 35.74 4.60 4.55 61.70 41.05 40.60 64.22 149.70 148.30 57.79 124.00 123.10 53.94 38.65 38.25 55.03 147.90 145.70 59.78 288.90 287.95 48.25 3.70 3.55 51.39 1.65 1.60 60.50 2.45 2.25 44.21 11.15 10.95 49.50 42.50 42.20 52.14 2.80 2.75 65.94 16.20 15.95 41.80 71.00 70.65 44.79 223.45 221.95 36.82 2.60 2.55 53.79 76.70 76.35 62.09 25.00 24.60 63.73 25.75 25.30 40.98 2.70 2.65 65.53 2.50 2.30 49.97 65.40 64.75 47.54 170.10 168.70 52.54 3.00 2.90 46.78 1.90 1.85 63.56 2.55 2.45 39.81 6.40 6.25 60.39 327.50 325.80 46.42 211.80 210.60 38.14 64.05 63.05 43.66 286.95 283.95 38.37 18.50 18.35 57.47 212.35 210.20 40.93 26.15 25.80 65.62 13.60 13.10 79.49 26.45 25.65 44.46 2.05 2.00 47.42 3.25 3.15 44.14 65.00 64.30 43.69 2.60 2.55
1st 2nd Resistance 3.10 3.15 72.45 72.90 52.30 53.05 25.95 26.30 25.40 25.65 92.80 93.50 17.20 17.75 11.60 11.95 389.30 392.05 124.80 126.40 11.45 11.60 3.95 4.10 8.75 8.90 2.15 2.25 29.25 29.60 3.35 3.50 2.60 2.65 42.50 43.60 63.20 64.95 220.05 221.90 14.45 14.65 4.70 4.75 41.85 42.20 152.15 153.20 125.50 126.10 39.30 39.60 151.85 153.60 290.90 291.95 4.00 4.15 1.75 1.80 2.75 2.85 11.65 11.95 43.30 43.80 2.95 3.00 16.75 17.05 71.75 72.15 227.80 230.60 2.70 2.75 77.60 78.15 25.90 26.50 26.95 27.70 2.80 2.85 3.05 3.35 66.90 67.85 173.10 174.65 3.25 3.40 2.00 2.05 2.85 2.95 6.80 7.05 331.20 333.20 214.40 215.80 66.95 68.85 292.20 294.40 18.90 19.15 216.30 218.15 26.95 27.45 14.40 14.70 27.60 27.95 2.20 2.30 3.40 3.45 66.70 67.70 2.70 2.80
Pivot 3.00 72.05 51.85 25.75 25.30 91.80 16.75 11.45 387.15 123.80 11.35 3.80 8.45 2.10 29.05 3.25 2.55 41.80 62.10 218.25 14.30 4.65 41.40 150.75 124.60 38.95 149.65 289.95 3.85 1.70 2.55 11.45 43.00 2.90 16.50 71.40 226.25 2.65 77.25 25.55 26.50 2.75 2.85 66.30 171.65 3.15 1.95 2.70 6.65 329.50 213.20 65.95 289.20 18.75 214.15 26.65 13.90 26.80 2.15 3.30 66.00 2.65
8
Wednesday, February 9, 2011
Ebad upbeat on higher edu for all KARACHI: Sindh Governor Dr Ishrat-ul-Ebad Khan, envisioned a bright future of the country where basic facilities as well as opportunities for higher education are available to people. He was addressing an international conference of peace, security and governance. The moot was held at the Governor House here on Sunday evening under the auspices of the Centre for Peace, Security, Development of the Dadabhoy Institute of Higher Education. He hoped that this would help foster the spirit of peace, amity and brotherhood in the society. Dr Ishrat said that the scholars' work and research would contribute towards the betterment in the society. He stated that the vast majority in the country consists of moderate people with a positive and moderate approach. The Governor said that this thinking was reflected with the election of moderate political parties in the general elections. He stated that very few in the society possess an extremist
viewpoint and that a handful of these have militant tendencies. Dr Ishrat pointed out that the government and the entire nation are boldly and successfully facing the challenge of terrorism. With regard to the PakAmerica cooperation regarding anti-terrorism drive, he was of the view that USA would have to bring changes in its pre-determined approach and policy. The governor said that betterment could be brought in this sphere with efforts, collaboration for infrastructure development, health, education and through poverty alleviation as this would help in winning the hearts of the Pakistanis, he maintained. He opined that USA should review its policy pertaining to Pak-India relations and added that if India is a big economy then Pakistan was also very important. Dr Ebad said that the moderate and forward-looking people of Pakistan view Pak-US ties through all these aspects.-APP
GCU holding event today
Int’l math moot set to multiply ideas LAHORE: The 5th World Conference on 21st Century Mathematics 2011, the biggest ever international conference in Pakistan, is going to start at Government College University (GCU) here from Wednesday (today). The event is being organised jointly by European Mathematical Society (EMS), International Mathematical Union (IMU), UNESCO, International Centre for Theoretical Physics Italy, Abdus Salam School of Mathematical Sciences and Higher Education Commission. The EMS President Prof Dr Marta Sanz-Solo will be the chief guest at the opening ceremony of the conference to be chaired by GCU Vice Chancellor Prof Dr Khalid Aftab. While, distinguished guests and delegates from Austria, Belgium, Bulgaria, Croatia, England, Finland, France, Georgia, Germany, Hungary, Indonesia, Iran,
Japan, Norway, Nepal, China, Poland, Romania, Russia, Slovak Republic, South Africa, Spain, Switzerland, Netherlands, Turkey, USA and Vietnam have confirmed to participation in the conference. The five-day conference encompasses more than 20 technical sessions, besides meetings, talks and informal discussions. Prof Aftab said here Tuesday that conference would provide a platform to the mathematicians from all over the world to exchange ideas about mathematics, education and research and such an interaction can lead to fruitful long-term collaborations which would be beneficial for the development of mathematics in Pakistan. He also termed the conference an opportunity for young Pakistani scholars to interact with well-known mathematicians from abroad and learn from their knowledge and experiences.-APP
IBA Khi opens its house for aspirers
PEIRA registered 722 private schools in ICT
KARACHI: The Institute of Business Administration (IBA), Karachi has organised Open House sessions at both of its campuses. An official of the IBA said here on Monday that the Open House in Karachi was the first in the series of the same event that will be held nationwide. The IBA Open House 2011 served as a curtain raiser for the launch of admission process in all academic programmes offered by the Institute. The official further stated that the purpose of these sessions was to inculcate the interest of aspiring students in IBA, and to provide a one window opportunity for both students and parents to raise queries and learn about the prospects of studying at IBA. The event was attended by the Associate Deans, Chairpersons and Faculty Members. All the participants were given brochures that were specially designed for the event. Around 350 aspiring students and their parents attended the Open House. Presentations at both campuses were delivered by Dr Sayeed Ghani, Associate Dean, Faculty of Computer Sciences to introduce different academic programmes, infrastructural facilities, and discuss the advantages of being associated with the institution that has a rich legacy of providing quality education since 1955.-APP
ISLAMABAD: Private Educational Institutions Regulatory Authority (PEIRA) has registered 722 private schools of the federal capital through transparent procedure which would help maintain standard of education. Talking to APP, Chairman PEIRA, Atif Mehmood Kayani said that the authority has completed 90 per cent registration of the private schools and only few institutes are in process of getting registration. PEIRA renews the registration after every two years and has renewed registration of around 695 schools recently, he said. Atif Kayani informed that the regulatory authority has set proper rules and criteria for the owners of private schools for getting registration to discourage those who open schools just to mint money. A comprehensive form is filled before registration which requires information about strength of students, number of classrooms, presence of equipped laboratory and library stocked with up to 3,000 books. The schools charging up to Rs1,000 as monthly fee are bound to pay Rs5,000 for registration along with inspection fee of Rs2,500. While Rs2,500 is charged after every two years to renew the registration, he said. PEIRA is working on selffinance basis since its establishment through an ordinance in 2006 and it took various initiatives for regulation and promotion of private sector schools.APP
KASBIT extends to North Nazimabad KARACHI: The North Nazimabad Campus of Khadim Ali Shah Bukhari University of Information Technology was inaugurated here on Monday. The MQM's Deputy Parliamentary Leader in the National Assembly, Syed Haider Abbas Rizvi was the chief guest on the occasion. He was of the view that our students want to excel in every field like engineering, medical, business administration, IT etc. He also suggested that they should also think of becoming good politicians. Referring to KASBIT's activities of inviting renowned people form industry finance, management etc for an interaction with its students, Haider Abbas suggested that besides big CEOs, prominent politicians should also be invited for interaction with the students. He complimented the role being played by KASBIT in promoting the cause of higher education. He said our vision is to ensure to make the students and youths of Karachi capable of proving and using their potential fully at home and abroad and for this purpose the KASBIT focuses on their capacity building through imparting quality education.APP
RAWALPINDI: Punjab Minister for Education Mujtaba Shuja-ur-Rehman awarding degree to Adeela Naseer Siddiqi during the annual convocation of Rawalpindi Medical College. Adeela received 5 gold medals in the convocation.-APP
First workshop held at Karachi Press Club
Visa to up financial literacy among media KARACHI: Visa, one of the leading payment solutions providers, has rolled out its financial literacy programme for media in Pakistan by organising the first educational workshop on financial literacy at the Karachi Press Club (KPC). Working with members of KPC and the Karachi Union of Journalists (KUJ), the workshop is aimed at helping to create a better understanding of money management skills among the people of Pakistan. The workshop was conducted by Visa Corporate Communications Manager in the Middle East Lama Kabbani and Country Manager for Visa Pakistan and Afghanistan Mr. Amer Pasha. The workshop was attended by leading journalists from print and electronic media. Commenting on Visa's financial literacy programme, Lama Kabbani, said, "Visa believes the most important financial tool is not a product - it is knowledge. That is why, for
more than a decade, Visa has been developing financial literacy programmes that teach individuals how to spend, save and budget responsibly. Possessing the skills to make the right money management decisions gives people greater control over their finances, the ability to deal with unexpected costs, and the skills to budget and save responsibly." Also, speaking on the occasion, Mr. Amer Pasha said: 'With more than five million Visa cardholders in the country, this was an ideal time to launch our financial literacy campaign in Pakistan, with the aim of raising awareness around the importance of financial management. Visa's Financial Literacy initiative is based on the premise that we can use our expertise in global financial services to empower people and help them to understand the responsibilities that come with owning a Visa debit, credit or prepaid card."
As part of its Financial Literacy programme, Visa also has plans to launch a localised version of its dedicated financial literacy w e b s i t e , www.mymoneyskills.com to help people of all ages across Pakistan to strengthen their knowledge of personal finance. Providing fundamental personal finance information in both Urdu and English on topics such as learning how to plan a budget, preparing for the future, using a credit card wisely and spending responsibly, the website will form an engaging platform for all audiences including young people, families and schools to improve their financial literacy skills. In addition, Visa is also set to launch a university programme in which a series of seminars will be organised in business schools by combining finance and fun to create further understanding of money management skills among young people in Pakistan.-PR
The Citizens Foundation
TCF-run schools about to reach 725 KARACHI: The number of schools in the country being run by The Citizens Foundation (TCF) will increase to 725 in April this year from present 660. President and CEO of TCF, Syed Asaad Ayub Ahmad stated this. He said that the number of enrolment will go up to 100,000 in April from the current 92,000. Assad pointed out that some 5,000 teachers are imparting education in the TCF schools all over the country. He said that more than 100 schools were located in the flood-
affected areas in the country. Asaad said that there are 10 commitments from various organisations and philanthropists for setting up of schools in the flood affected areas. Meanwhile, Siemens Pakistan has extended support for four schools in the flood-affected areas, one each in Sindh, Punjab, Balochistan and Khyber Pakhtunkhwa. President and CEO of TCF Syed Asaad Ayub Ahmad, Managing Director and CEO of Siemens
Pakistan Sohail Wajahat Siddiqui, and CFO Murtaza Abbas signed the agreement. Sohail Wajahat also presented a cheque of the first instalment to the tune of Rs 1.7 million on the occasion to the TCF chief. The total commitment by the Siemens Pakistan in this respect is Rs4.1 million. The four schools are located in Dera Murad Jamali (Balochistan), Naushero Feroze (Sindh), Shahpur in District Sargodha (Punjab) and Manshera (Khyber Pakhtukhwa).-APP
SSUET awards Rs261mn scholarships KARACHI: Sir Syed University of Engineering and Technology (SSUET) has spent more than Rs261 million on providing scholarships to some 15,000 students since its establishment in 1994-95 under an Act of Sindh Government. "It is our commitment and we proved that no student will be allowed to give up education because of mere financial constraints," remarked Chancellor SSUET ZA Nizami. He said the University's endowment fund instituted with Rs250 million three years back had reached Rs280 million. Under the development head, Rs14 million had been earmarked during the current financial year which was increased to Rs 15 million because of better return on the investment which today amounts to Rs826.471 million as against the investment of Rs4.72 million made in 199394, he pointed out. This year, he said, the University is spending Rs40 million on providing scholarships to students who earn a GP of 3 or above.-APP
BTech Recognition Demands Grow Louder ISLAMABAD: Advancement in technology can bring revolutionary changes but the technology (B Tech) graduates in the country are deprived of access to higher studies, job opportunities in public departments and promotions due to undefined status of their degrees. Over 50,000 BTech graduates have demanded to establish Pakistan Technology Council (PTC) for their registration, which can safeguard their rights. Talking to APP here on Sunday, Chairman of Pakistan Council of Technologists Sheikh Javed said that a draft bill for the establishment of
Pakistan Technology Council (PTC) was forwarded to the Prime Minister in February 2010, which was sent to the Ministry of Science and Technology (MoST) on March 3, 2010 for comments but it was still pending with the ministry. The government had reiterated its commitment many times to work for the promotion of technical education but the PEC had prohibited the education ministry for establishing Pakistan Technology Council, Javed said. Over 10,000 B Tech graduates complete their degrees from different institutes annually and start struggle for jobs.
"I have completed B Tech programme but there is no scope of this programme in Pakistan so I have decided to go abroad and seek a job," said Atif Malal. B Tech programme was formally launched in 1973 and the then Ministry of Education was directed to give status of B Tech (Hons) degree at par with B Sc Engineering/B E degree, according to the letter No. 1529/73-Tech. According to the letter no PEC/4-P/QEC, the PEC stated that B Tech degree would be considered equivalent to BSc/BE and the same decision was taken in 9th inter-provin-
cial ministers conference at Quetta in 1986, 39th HEC meeting on 12-2-98, FPSC in its letter no F4-89/2002-R but now the PEC is not ready to accept their status. The BTech holders study the same courses like engineers and are equally competent but they have to struggle and file cases individually to recognise their degree status, Sheikh Javed said. The Pakistan Engineering Council (PEC) has refused to register technologists while different public departments refuse to recognise their degrees and deny jobs. Those, who have already got government jobs, do not get promo-
tions up to Grade 16, he said. Sheikh Javed said the Federal Public Service Commission (FPSC) is also not appointing the B Tech degree holders directly. Most of the B Tech graduates, after completion of their qualification, move to other countries in search of better job opportunities, he said. The technologists holding B Tech qualification have filed several cases in courts and got 17 decisions in their favour, declaring their degree equivalent to BSc/BE but no decision has not been implemented so far. The full bench of Supreme Court in suo moto Review
Petition No 52 of 1993 gave its verdict on June 05, 1995 in favour of BTech (Hons) (PLD 1995 SC 701), thrashing out the role of PEC. But, the PEC in 2004-05 managed to have it amended by adding new clauses and definition of professional engineering work and section 5A of Section 27 only to quash the decision of full bench of Supreme Court thus to interfere in the service matters and blocking promotion channels of employees possessing BTech (Hons) degrees. Saleem Akhtar, Associate Engineer Nespak told APP that BTech holders are facing severe difficulties due to
unclear status of their qualification. Although the Higher Education Commission (HEC) issues equivalence certificate to the graduates but the public departments refuse to employ them, he said. The HEC through a letter accepted the status of BTech (Hons) equivalent to BSc/BE but the PEC is not ready to agree. "Pakistan Technology Council, if established, will help register technology graduates, control technology institution and eliminate discrimination in access to higher education, job opportunities and scale promotions," Saleem said.-APP
9
Wednesday, February 9, 2011
European vegetable oil prices
AGARTALA : Indian Farmers plant paddy cuttings in a field near Indo-Bangla border at Agartala, the capital of the northeastern state of Tripura.-Reuters
Sugar tumbles; Arabica down LONDON: Raw sugar futures tumbled after China's decision to raise interest rates weighed on prices, setting off technical stops and sparking a sell-off in the highly volatile market. New York raw sugar futures fell as much as 5 per cent after the Chinese decision, setting off automatic sell stops. The March contract later pared some of its losses to trade down 1.45 cent or 4.4 per cent at 31.23 cents per lb at 1607 GMT, remaining below its 30-year peak of 36.08 cents from Feb. 2. London March white sugar fell $34.00 or 4.3 per cent at $765.50 per tonne, below last week's record high of $857.00 per tonne. "Generally, commodities are under pressure due to the Chinese interest rate increase," said Mike McDougall, senior vice-president of brokerage Newedge USA in New York. Cocoa futures turned positive after an initial dip on the Chinese rate hike, with markets focused on whether continued turmoil in Ivory Coast -- which grows a third of the world's cocoa crop -- could lead to civil war or an extension of a call for a month-long cocoa export ban. ICE benchmark May cocoa futures climbed $17 or 0.5 per cent to $3,240 per tonne, while London May cocoa rose 15 pounds or 0.7 per cent to 2,115 pounds a tonne. Coffee futures fell in choppy trading, though prices remained supported by a shortage of high-quality arabica beans. ICE March arabicas traded down 1 cent or 0.4 per cent at $2.4875 per lb at 1611 GMT, below their 13-1/2-year peak of $2.5360 a lb from last Thursday. Liffe May robusta coffee was down $11 or 0.5 per cent at $2,232 per tonne, below its 2-1/4-year high of $2,287. -Reuters
Tokyo rubber rises further BANGKOK: Tokyo rubber futures rose further on Tuesday on the back of concerns on falling supply, but weaker oil prices still weighed on prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose 8.1 yen, or 1.6 per cent, to settle at 498.9 yen ($6.06) per kg. Oil prices edged down on Tuesday as transit through the Suez Canal remained unaffected by the political turmoil in Egypt, while expectations of a build-up in US crude inventories also weighed. "Players liquidated contracts again after seeing oil prices retreat, preventing rubber futures from breaking another new record," one dealer said. The Shanghai rubber futures market is closed and will reopen on Wednesday after a week-long holiday. TOCOM rubber futures prices were expected to rise further on Wednesday, as fears on falling supply was likely to provide supports, dealers said. -Reuters
Gold up; speculators cover positions LONDON: Gold rose more than 1 per cent on Tuesday to a high of $1,366 an ounce as traders covering short positions in the New York futures market pushed spot prices through key resistance at the metal's 100-day moving average. The metal unexpectedly made up the ground it lost earlier after a rise in Chinese benchmark interest rates pressured commodities, as the move was seen
potentially curbing demand for raw materials in China's charging economy. Spot gold was bid at $1,362.80 an ounce at 1604 GMT, against $1,350.46 late in New York on Monday. US gold futures for April delivery rose $15.50 an ounce to $1,363.70. "GCJ1 has broken Friday's highs," said Afshin Nabavi, head of trading at Geneva's MKS Finance. He attributed the move to short covering: "Specs went short off the China headlines earlier. This is all futures-driven, as stops are driven through the post non-farm payrolls spike of $1,361, followed by the 100-day
moving average around $1,362." The gold price came under intense pressure last week after more signs emerged that global growth continues to improve and that the euro-zone debt crisis has not worsened, which eroded some investor appetite for the metal. Also supporting sentiment towards gold, investment in exchange-traded funds showed signs of stabilisation, with holdings of metal in the SPDR Gold
Trust up by 1 tonne in the past week to 1,228.864 tonnes. Among other precious metals, platinum and palladium rallied, although gains were tempered by China's interest rate decision. Spot platinum was last up 0.8 per cent at $1,852.24 an ounce, nearing its highest level since July 2008, while palladium remained within sight of fresh ten-year highs, last up 1.2 per cent at $824.97 an ounce. Silver was last up 1.8 per cent at $29.90. The price is up more than 6 per cent this month so far and is within a few dollars of 31year highs seen in early January. -Reuters
Copper falls on China move, dollar supports LONDON: Copper slipped on Tuesday from record highs the previous session after China hiked benchmark interest rates, raising concerns of slower demand in the world's top consumer of base metals. Three-month copper on the London Metal Exchange fell to a low of $9,880 a tonne, but clawed back losses and was last bid at $10,059 as the dollar fell. It closed at $10,045 a tonne on Monday, off the record high $10,160 it hit earlier that day. Copper, used in power and construction, has hit successive records since the start of February as expectations of supply constraints attract fund buying. It fell on Tuesday partly because China raised interest rates for the second time in just over six weeks to bring high inflation under control, a move seen as curbing demand for raw materials in its booming economy. Some analysts said the fall had been a knee-jerk reaction. Asian markets will resume normal trade on Wednesday, following week-long Lunar New Year holidays, which
traders said should galvanise near-term direction. Tin retreated from record highs of $31,650 on Tuesday to close at $31,400, compared with a $31,200 bid on Monday. Traders said the latest trigger was news from Indonesia's state-owned PT Timah, the world's largest integrated tin miner, that refined tin production fell 10 per cent last year. Headline copper inventories fell by 1,500 tonnes, the most recent LME data showed, interrupting the loose uptrend in place since mid December. Reflecting moribund physical demand, the ratio of stocks to cancelled warrants -- the metal tagged for removal from warehouses -- has fallen to near 3 per cent, the lowest levels since April 2010. China inflation data for January is due on Feb. 15. Zinc closed at $2,511 a tonne, versus Monday's close of $2,508 a tonne, while nickel was $28,390 from $28,300. Lead used in the battery sector, closed at $2,569 a tonne from $2,580 a tonne, while aluminium finished at $2,565 from $2,548. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 07 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1250
January (3rd Wednesday)
1310
1255
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for February 07 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
2315 2320 2300 2305 2225 2235 2225 2235
2538.5 2539.5 2557 2558 2615 2620 2660 2665
10144.5 10145 10119 10120 9880 9890 9425 9435
2643 2645 2583 2585 2525 2530 2472 2477
28700 28705 28700 28705 27455 27555 26070 26170
TIN
ZINC NASAAC
31295 2507 31300 2507.5 31275 2525.5 31300 2526 30770 2545 30820 2550 2515 2520
2477 2478 2500 2505 2540 2550 2595 2605
ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11 1025.00-10.00, Mar11 1025.00-10.00, Apr11 1025.0010.00, May11/Jul11 1025.0010.00, Aug11/Oct11 1030.0010.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1035.00-15.00, Aug11/Oct11 1000.00-10.00, Nov11/Jan12 1005.00-10.00, Feb12/Apr12 1010.00-10.00. SUNOIL: EU dlrs tonne extank six ports option Feb11 1490.00+0.00, Mar11 1490.00+0.00, Apr11/Jun11 1475.00-5.00, Jul11/Sep11 1485.00-10.00, Oct11/Dec11 1410.00-15.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1587.50+15.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Feb11 1320.00+5.00, Mar11 1320.00+0.00, Apr11/Jun11 1300.00+2.50, Jul11/Sep11 1277.50+5.00. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1367.50, Mar11 1357.50, Apr11/Jun11 1330.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1320.00+10.00, Mar11 1310.00+0.00, Apr11/Jun11 1282.50+0.00, Jul11/Sep11 1250.00+0.00. PALM STEARIN: Dlrs tonne fob Malaysia Feb11 1280.005.00, Mar11 1275.00-5.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Feb11 1040.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 2330.00, Feb11/Mar11 2280.00+0.00, Mar11/Apr11 2250.00+0.00, Apr11/May11 2220.00-10.00. Reuters
Indian sugar declines MUMBAI: Indian sugar prices eased on Tuesday on higher supplies and on the government's indecision over exports of 500,000 tonnes sugar yet, dealers said. "Higher non-levy supplies are depressing prices. Market is waiting for the government decision over exports of 500,000 tonnes sugar," said a member of Bombay Sugar Merchants Association (BSMA). In December, farm minister said mills could export 500,000 tonnes of sugar under Open General Licence (OGL). But the government, bowing to public pressure over food prices, has referred the issue to a panel of ministers. India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety fell by 0.56 per cent to 2,680 rupees ($59.2) per 100 kg, after losing 5 per cent in January. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended down 0.43 per cent at 2,776 rupees per 100 kg. Reuters
Oil falls; China, US inventory data in focus China lifts interest rates for second time in six weeks LONDON: Oil prices fell on Tuesday after China moved to tame inflation with an interest rate increase, the second lift in just over six weeks, and ahead of an expected build in weekly US crude stockpiles. US crude (WTI) for March fell $1.03 to $86.45 a barrel by 1448 GMT. ICE Brent lost 37 cents to $98.88 a barrel. Although China's rate move was widely anticipated prices fell on fears higher interest rates could tame Chinese oil demand growth, which according to the International Energy Agency has overtaken the United States as the world's largest energy consumer. "It was a largely expected move, they are trying to put pressure on the economy in 2011 as they don't want inflation to rise too much," Credit Agricole CIB's analyst Christophe Barret said. "Of course it will have an impact on oil demand." Prices were also under pressure ahead of the latest United
States weekly stockpiles data from industry body American Petroleum Institute, which was expected to show another build. In addition, crude's risk premium from unrest in the Middle East, including the protests in Egypt, was seen fading. "Egypt, at the centre of the
granted, price breakouts due to geopolitical reasons are becoming more likely and are likely to persist all through this year," the Barclays wrote in a note. US crude inventories were expected to rise for the fourth consecutive week, according to a Reuters poll, with industry body American Petroleum Institute to release weekly data at 2130 GMT. The US government's E n e r g y Information
crisis, is evidently losing its ability to frighten markets," Commerzbank analyst Carsten Fritsch said in a note. "Provided events do not escalate further, oil prices could retreat more." Despite receding price support from the recent wave of unrest in the Middle East, Barclays oil analysts said geopolitical risk will likely support further price increases this year. "In a world where spare capacity is being taken less for
Administration will follow with its own report on Wednesday. "A further inventory build in Cushing could push down the price of the front-month WTI contract, steepen the WTI forward curve further and lead to a renewed widening of the price gap between Brent and WTI," Commerzbank's Fritsch said. Brent's premium to WTI remained strong at $12.43 by 1250 GMT, albeit off record highs of 12.50 in late January. Reuters
Palm oil recovers on tight supply concerns KUALA LUMPUR: Malaysian palm oil reversed losses on Tuesday as traders focused on prospects of tighter supplies after heavy rains and floods curbed production. Traders were also taking positions ahead of China markets opening on Wednesday after the Lunar New Year holidays and many are expecting the world's No. 2 vegetable oil buyer to start restocking although the pace of purchases may be slower. "Supplies are looking quite tight from January when the weather was at its worst and we could see further declines in February when countries like China restock," said a trader with a foreign commodities brokerage in Kuala Lumpur. A Reuters survey found Malaysia's January palm oil stocks could fall to a six-
month low of 1.45 million tonnes from December as overseas demand outpaced sluggish output. The benchmark April crude palm oil on Bursa Malaysia Derivatives ended up 0.6 per cent at 3,890 Malaysian ringgit a tonne. Earlier in the day, the market fell to 3,816 ringgit, a level not seen since Feb. 2. Overall traded volume rose to 22,138 lots of 25 tonnes each, compared to the usual 15,000 lots. US March soyoil contract inched up 0.5 per cent in Asian trade ahead of the USDA report due on Wednesday. Analysts surveyed by Reuters expected USDA to lower its forecasts of 2010/11 US and world ending stocks for wheat, corn and soybeans. China's financial markets, closed for the Lunar New Year holiday, will reopen on Feb. 9. -Reuters
BD tea prices fall on poor quality DHAKA: The average price of Bangladeshi teas fell 3.57 per cent to 183.86 taka ($2.58) per kg on poor quality at the weekly auction on Tuesday, brokers said. Nearly 1.29 million kg were sold, leaving a record 38.54 per cent of the offer to be taken back into storage by sellers. Bangladeshi buyers, including exporters mainly to the Commonwealth of Independent States and Pakistan participated in the auction, held in the country's lone auction centre in the main port city Chittagong. "A large weight of end-of-season varieties failed to get buyers, resulting in a sharp decline in value," said a market report by the National Brokers Limited, the largest tea broking firm in the country. Different grades were sold between 120 taka and 243 taka per kg at the auction. -Reuters
US cotton closes up sharply, but off day-high NEW YORK: US cotton futures settled sharply higher on Monday on speculative and option-related buying as players piled back into the market, threatening to ignite a fresh rally to record territory, analysts said. Cotton futures soared last week to their highest in almost 150 years, but then on Thursday endured their biggest one-day fall since early December, Thomson Reuters data showed. Year-todate, cotton is up almost 16 per cent. The key March cotton contract on ICE Futures US rose 6.65 cents or almost 4.0 per cent to end at $1.7451 per lb, dealing
from $1.6476 to $1.7486, a level representing the top of the 7-cent allowable daily limit. Total volume reached some 33,300 lots, almost 60 per cent above the 30-day norm, Thomson Reuters preliminary data showed. Mike Stevens, an independent analyst in Louisiana, said the market jumped when optionsrelated buying hit fiber contracts. "While today doesn't negate the reversal, it surely puts it to the test," he said, referring to when cotton traded at a record $1.8122 last week then ended the day nearly limit-down. The last time a key reversal, which is when a market hits a
record high then ends lower, happened in cotton was Nov. 10. Analysts are waiting to see whether the Cotlook A index, the average price of the five cheapest cotton brands, will rise further given strong demand. The A index was quoted on Monday at $1.9755/lb, down 4.00 cents on the day. The market is also awaiting the release on Wednesday of the US Agriculture Department's monthly supply/demand report. Most in the trade expect no major change in world cotton demand, but high prices are seen eventually forcing a change in the consumption figure. -Reuters
National Commodity Exchange Ltd Trading Summary Date
8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011 8-Feb-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 10FE11 FE11 FE11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
89.18 92.15 94.56 29.19 29.70 1348.40 1349.00 1350.60 1348.40 1349.00 1349.60 37300.00 37235.00 37252.00 37199.00 37207.00 43388.00 43388.00 38304.00 38252.00 38265.00 38278.00 38291.00 44011.00 44518.00 43966.00 43981.00 43996.00 3153.00 3159.00 5455.00 86.17
89.29 92.24 94.56 29.72 29.86 1357.00 1357.50 1358.80 1350.80 1357.10 1351.20 37300.00 37266.00 37282.00 37229.00 37238.00 43424.00 43424.00 38322.00 38361.00 38282.00 38295.00 38309.00 44033.00 44700.00 43987.00 44002.00 44017.00 3172.00 3178.00 5463.00 86.18 85.54
85.94 89.11 91.94 29.07 29.21 1345.70 1345.50 1346.50 1348.40 1347.50 1349.60 37226.00 37235.00 37252.00 37199.00 37207.00 43388.00 43388.00 38304.00 38252.00 38265.00 38278.00 38291.00 44011.00 43951.00 43966.00 43981.00 43996.00 3153.00 3159.00 5455.00 86.17 85.51
86.19 89.35 91.94 29.34 29.34 1350.80 1351.20 1351.90 1350.80 1351.20 1351.20 37257.00 37266.00 37282.00 37229.00 37238.00 43424.00 43424.00 38322.00 38361.00 38282.00 38295.00 38309.00 44033.00 44078.00 43987.00 44002.00 44017.00 3172.00 3178.00 5463.00 86.18 85.51
Traded Volume in lots 407 105 228 2 1,388 1,099 940 33 1 13 -
Previous Settlement Price 87.45 90.70 93.34 29.42 29.43 1351.30 1351.70 1352.40 1351.30 1351.70 1352.40 37306.00 37315.00 37331.00 37278.00 37287.00 43481.00 43481.00 38372.00 38412.00 38333.00 38346.00 38359.00 44090.00 44136.00 44045.00 44060.00 44075.00 3153.00 3159.00 5455.00 86.17 85.54
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 86.19 198 89.35 60 91.94 3 29.34 45 29.34 1 1350.80 1,698 1351.20 1,544 1351.90 686 1350.80 1351.20 9 1351.90 37257.00 14 37266.00 1 37282.00 82 37229.00 1 37238.00 43424.00 43424.00 38322.00 38361.00 38282.00 38295.00 38309.00 44033.00 44078.00 7 43987.00 44002.00 1 44017.00 35 3172.00 3178.00 5463.00 86.18 85.51 -
The pack of riders cycles during the second stage of the Tour of Qatar cycling race
10
Wednesday, February 9, 2011
Afridi says loves to turn the crowds on KARACHI: Flamboyant and controversial, Shahid Afridi came to the world's notice as a 16-year-old when he blasted the fastest century in a one-day match from 37 balls against the helpless Sri Lankans. Fourteen years on and now Pakistan captain, Afridi still enjoys playing to the gallery. "I love entertaining the crowds. I know people come to watch me hit the sixers," he said. "But after becoming captain I have tried to be more sensible while batting or bowling. I want victories for the team not just individual laurels." A veteran of 312 one-day internationals, Afridi has never been short of talent. He is a hard-hitting batsman capable of savaging any attack on his day and good enough to pick up 292 one-day wickets with his leg-spin. For Pakistan to have a chance of doing well in the forthcoming World Cup, Afridi will have to produce the same sort of inspirational performances as he did in the 2009 T20 World Cup. The all-rounder picked up the man-of-the-match awards in the semi-final and final as he fired on all cylinders with bat and ball to give Pakistan the title. "That T20 World Cup win was memorable for me and my team mates but personally winning the 50-overs World Cup this year would be a far greater achievement for me," Afridi told Reuters before leaving for the New Zealand tour in December. ATTACKING INSTINCTS Given the responsibility of captaining Pakistan's T20 and one-day sides since last year, Afridi has been chastised by many former players for his refusal to curb his natural attacking instincts or his penchant to hit sixes. He holds the world record for the most sixes in ODIs with 288.-Reuters
Russia recover to beat France 3-2 in Fed Cup MOSCOW: Svetlana Kuznetsova and Anastasia Pavlyuchenkova won their reverse singles and paired up to win the doubles match as Russia staged a stunning comeback from 2-0 down to beat France 3-2 in the World Group first round. France stung highly favoured Russia on Saturday, when Alize Cornet and Virginie Razzano swept the opening singles. Cornet rallied to beat two-time major winner Kuznetsova 3-6, 6-3, 6-4, and Razzano then took a 6-3, 6-4 victory over three-time Grand Slam winner Maria Sharapova. Russia's Anastasia Pavlyuchenkova serves to France's Alize Cornet during a Fed Cup tennis match in Moscow. Pavlyuchenkova, replacing Sharapova, narrowed the gap, beating Cornet 3-6, 6-3, 6-2, and Kuznetsova downed Razzano 6-4, 6-4 in Sunday's second reverse singles to leave the tie to be decided by the doubles match. The Russians beat Alize Cornet and Julie Coin, 7-6 (4), 6-0. Russia was broken while serving for the first set at 5-4 but prevailed in a tiebreaker. Kuznetsova and Pavlyuchenkova completely dominated the second set and won the match on the third match point.-Reuters
History of the Cricket World Cup Brief history of the cricket World Cup ahead of the 2011 edition which starts on Feb. 19: 1975, England Fine weather blessed the first global one-day tournament culminating in an unforgettable final between West Indies and Australia at Lord's. Striking the ball with relaxed brutality, West Indies' captain Clive Lloyd tamed an attack headed by the pace and fury of Dennis Lillee and Jeff Thomson to score 102 from 85 balls. He was ably assisted by the 39-year-old Rohan Kanhai, a late replacement for his injured contemporary Garfield Sobers. Kanhai contributed 55 to West Indies' 291 for eight from their 60 overs. Australia captain Ian Chappell led a spirited reply with 62 before he fell victim to one of three runouts effected by the electric reflexes of Viv Richards. Lillee and Thomson added 41 for the final wicket before Australia were finally dismissed for 274 at twilight on the longest day of the year. 1979, England Peace was brokered with Australian entrepreneur Kerry Packer, whose rebel World Series had split world cricket, shortly before the second World Cup. Australia still chose not to select any of the players who had signed for Packer but West Indies did and a team who were to rule world cricket throughout the next decade demolished England in the final. Richards, then the world's number one batsman, stroked an imperious 138 and Collis King struck a whirlwind 86. Although England captain Mike Brearley and Geoff Boycott put on 129 for the first wicket, they took up 38 of the 60 overs. After their dismissals, the giant Joel Garner ran through the middle order with a series of unplayable yorkers to take five wickets in 11 balls and give his team victory by 92 runs. 1983, England
Richards seemed intent on winning the final against underdogs India on his own after West Indies had been set a modest 184 to win. He struck seven boundaries in his 33 from 28 balls before top-edging a hook which India captain Kapil Dev, running away from the pitch towards the boundary at mid-wicket, coolly collected. West Indies imploded thereafter, with India recording a famous 43-run victory which was to have profound implications at home where one-day cricket quickly superseded the test game as the most popular form of the sport. 1987, India & Pakistan England appeared to be cruising to victory in the final against Australia at Kolkata's Eden Gardens when Mike Gatting tried a reverse sweep off opposing captain Allan Border's first delivery and lobbed a simple catch. A well-drilled and disciplined Australia side went on to win by seven runs with the core of the team who later thrashed England in the 1989 Ashes series and eventually succeeded West Indies as unofficial world test champions. Because of the shorter daylight hours on the sub-continent all matches were played over 50 overs, now the standard length, instead of 60. 1992, Australia & New Zealand Famously urged by their captain Imran Khan to "fight like cornered tigers", Pakistan rebounded from imminent elimination in the opening round to defeat England in the final at the Melbourne Cricket Ground. Imran, the greatest player to emerge from Pakistan, scored 72 batting at number three in his final match for his country. He also took the final wicket after his protege Wasim Akram had blown away Ian Botham, Allan Lamb and Chris Lewis. Coloured clothing, floodlights and a white ball, all pioneered in World Series cricket,
2011 WC Calendar
AUSTRALIA RICKY PONTING Ponting faces a race to be fit for the tournament after fracturing his little finger in the Ashes series and his biggest challenge might just be turning up at all. The third most prolific run scorer in one-day internationals, the aggressive righthander's ability to buck his poor recent form with the bat could be an important factor in Australia's attempt to win a fifth World Cup. MICHAEL CLARKE Though he has been booed by his own fans recently, Clarke could be key to Australia's hopes of a fourth straight World Cup triumph. ENGLAND KEVIN PIETERSEN If England are to prosper at the World Cup, Pietersen's role as England's most dangerous one-day batsman will be critical. England's limited-overs cricket has improved by leaps and bounds since their dismal performances at the 2007 tournament but they still do not possess the power players essential in the modern game, with the notable exception of Pietersen. PAUL COLLINGWOOD Collingwood called time on a test career which yielded more than he had ever imagined after the runs finally dried up during the Ashes success. INDIA SACHIN TENDULKAR Record-breaker Tendulkar has scored more than 32,000 runs and 97 centuries in international cricket but the World Cup is still missing from his trophy cabinet. Tendulkar, who suffered a hamstring injury last month, resists talk of retirement but, at
37, knows this is his last shot at World Cup glory. India's success will depend to a large extent on the kind of start he and Virender Sehwag can provide. ZAHEER KHAN With 523 international scalps -- 252 from 182 ODIs -- Zaheer not only spearheads India's pace attack but also mentors young pacers, prompting skipper Mahendra Singh Dhoni to call him the team's bowling captain. NEW ZEALAND SCOTT STYRIS Styris began his international cricket career as a medium pacer who could bat a bit then developed into a top-order batsman who bowled only a few overs as a sixth bowler. DANIEL VETTORI New Zealand's bespectacled captain, predictably tagged "Harry Potter" by England's Barmy Army fans, is highly intelligent and a deep thinker on the game. PAKISTAN AHMED SHEHZAD The latest prodigy produced by Pakistan, Shehzad batted with astonishing maturity to clinch his team's one-day series in New Zealand this year. Still only 19, Shehzad took the game away from the Kiwis with his maiden one-day international century after opening the batting in overcast conditions ideally suited to the home team's swing and seam attack. UMAR GUL Strong, determined and skilled, Gul is an under-rated pace bowler who has proved a success in test, 50-overs and Twenty20 cricket. Although not of express pace, Gul can generate disconcerting movement and bounce with the new ball and reverse swing the
old.
Match schedule for the 2011 one-day cricket World Cup being co-hosted by India, Sri Lanka and Bangladesh
Groupings
Pool A:
Pool B:
Australia, Pakistan, New Zealand, Sri Lanka, Zimbabwe, Canada, Kenya
India, South Africa, England, West Indies, Bangladesh, Ireland, Netherlands
Schedule Feb 19: Bangladesh Feb 20: New Zealand Feb 20: Sri Lanka Feb 21: Australia Feb 22: England Feb 23: Pakistan Feb 24: South Africa Feb 25: Australia Feb 25: Bangladesh Feb 26: Sri Lanka Feb 27: India Feb 28: Zimbabwe Feb 28: West Indies March 1: Sri Lanka March 2: England March 3: South Africa March 3: Pakistan March 4: New Zealand March 4: Bangladesh March 5: Sri Lanka March 6: England March 6: India March 7: Kenya March 8: Pakistan March 9: India March 10: Sri Lanka March 11: West Indies March 11: Bangladesh March 12: India March 13: New Zealand March 13: Australia March 14: Bangladesh March 14: Pakistan March 15: South Africa March 16: Australia March 17: England March 18: Ireland March 18: Sri Lanka March 19: Bangladesh March 19: Australia March 20: Zimbabwe March 20: India March 23: Quarter-final March 24: Quarter-final March 25: Quarter-final March 26: Quarter-final March 29: Semi-final March 30: Semi-final April 2: Final
vs India, Dhaka vs Kenya, Chennai vs Canada, Hambantota vs Zimbabwe, Ahmedabad vs Netherlands, Nagpur vs Kenya, Hambantota vs West Indies, New Delhi vs New Zealand, Nagpur vs Ireland, Dhaka vs Pakistan, Colombo vs England, Bangalore vs Canada, Nagpur vs Netherlands, New Delhi vs Kenya, Colombo vs Ireland, Bangalore vs Netherlands, Mohali vs Canada, Colombo vs Zimbabwe, Ahmedabad vs West Indies, Dhaka vs Australia, Colombo vs South Africa, Chennai vs Ireland, Bangalor vs Canada, New Delhi vs New Zealand, Kandy vs Netherlands, New Delhi vs Zimbabwe, Kandy vs Ireland, Mohali vs England, Chittagong vs South Africa, Nagpur vs Canada, Mumbai vs Kenya, Bangalore vs Netherlands, Chittagong vs Zimbabwe, Kandy vs Ireland, Kolkata vs Canada, Bangalore vs West Indies, Chennai vs Netherlands, Kolkata vs New Zealand, Mumbai vs South Africa, Dhaka vs Pakistan, Colombo vs Kenya, Kolkata vs West Indies, Chennai Dhaka Ahmedabad Dhaka Colombo Colombo Mohali Mumbai
SOUTH AFRICA AB DE VILLIERS With veteran Mark Boucher sent out to pasture, De Villiers will not only fill the crucial number four batting position for South Africa in the World Cup but also keep wicket. DALE STEYN Fast bowler Steyn with the new ball in his hand is one of the scariest sights in world cricket, with batsmen fearing bodily harm as well as the strong likelihood of dismissal. SRI LANKA LASITH MALINGA Batsmen will find it difficult to handle the fiery pace and bounce from Malinga who has a knack of churning out yorkers at will. The 27-year-old has also added the slow bouncer to his repertoire, making it hard to score off him. MUTTIAH MURALITHARAN The miserly off-spinner, appearing in his last international tournament, can turn the ball sharply on the most placid of pitches. WEST INDIES DWAYNE BRAVO With the bat, Bravo is a classic one-day middle-order batsman capable of upping the run rate with well-timed strokeplay and smart running. With the ball he brings great variety with his medium-quick bowling including a well-concealed slower delivery that has proved particularly effective. DARREN SAMMY The new West Indies skipper was dismissed as a 'bits and pieces' player early in his career but has shown that he can deliver good-quality, economical seam bowling.-Reuters
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were finally introduced into the tournament. 1996, India, Pakistan & Sri Lanka Sri Lanka, with the explosive Sananth Jayasuriya at the top of the order and Muttiah Muralitharan bewitching opposing batsmen with his prodigious powers of spin, proved worthy champions. The Sri Lankans had demonstrated before the tournament that they could chase down totals previously thought beyond reach and they exploited the fielding restrictions at the start of the innings by attacking from the first ball. Aravinda de Silva, their most accomplished batsman, scored an assured unbeaten century in the seven-wicket win over Australia in the final in Lahore. 1999, England, Wales & Scotland Australia, the world's best test side, were in danger of elimination in the group stages and again in the Super Six round where 120 not out from captain Steve Waugh, dropped on 56 by Herschelle Gibbs, ensured victory over South Africa. Then, in a semi-final between the same teams, South Africa needed only one run with four balls remaining in the final over with their best one-day batsman Lance Klusner on strike. A panicky runout tied an epic match which put Australia through by virtue of their superior run rate in the previous round. Australia made no contest of the final against Pakistan, taking barely 4-1/2 hours to overwhelm the 1992 champions. 2003, South Africa, Zimbabwe & Kenya Australia's new one-day captain Ricky Ponting struck eight sixes in his 140 not out in the final against India as his team scaled new heights with a relentless 125-run victory. The Australians became the first team to win three World Cups and took their unbeaten run in the tournament to 16. England refused to play in
Zimbabwe, whose two leading players Andy Flower and Henry Olonga wore black armbands when they played against Kenya to protest against "the death of democracy in our beloved Zimbabwe". 2007, West Indies Australia, fresh from a 5-0 Ashes series win over England, systematically destroyed all opposition throughout the Caribbean, finishing with victory over Sri Lanka in a rain-shortened final at the Kensington Oval in Bridgetown, Barbados. Adam Gilchrist bettered Ponting's record tally in a final with a typically audacious 149. Two other Australian giants, Matthew Hayden and Glenn McGrath, were the leading run-scorer and wicket-taker respectively in the tournament. The tournament was overshadowed by the death of popular Pakistan coach Bob Woolmer at the age of 58 in his hotel room in Jamaica after his team had unexpectedly lost to Ireland. Police launched a murder investigation which led nowhere and a jury later returned an open verdict. 2011, India, Bangladesh & Sri Lanka The Cricket World Cup expecting this year in Indian and Bangladesh the first match between India and Bangladesh will hold in Dhaka, first semifinal in Colombo, second semi-final in Mohali and the final will hold in Mumbai, India.
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Profiles of leading players at the WC
Brief profiles of leading players in the major teams at the Cricket World Cup in India, Sri Lanka and Bangladesh from Feb. 19:
KARACHI: Trinity Girls, the winning team posing along with Chief Guest Usama Qadri, Mudassir Arain, Ejazul Haq, Shahzad Pervaiz Bhatti, Miss Naheed and others after the final of ‘Coaching and Tournament’ organised by Pakistan Netball Federation here.-Staff Photo
9th AKU inter level basketball tourney is on KARACHI: According to a press release issued here three more league matches have been decided of the 9th AKU Inter School/Collegiate Basketball Tournament (for boys) being organized by AKU Sports Centre at their Gymnasium. The tournament is underway and more matches would be played in the days to come.-PR
Asia soccer body allows Pak ‘bye’ in pre-qualifiers LAHORE: Asian Football Confederation allowed Pakistan the bye in the Pre-Qualifying Stage as fourth AFC Challenge Cup Qualifiers 2011 will get under way tomorrow, 9 February with first legs of four playoffs.Based on the rankings of the 2010 AFC Challenge Cup, the eight lowest ranked were drawn into four two-legged ties with the four winners advancing to the qualification proper.
All matches are on a home and away basis scheduled for 9 and 16 February/15 March 2011. The winner of next year's final phase will qualify for the Australia's 16th Asian Cup 2015. Unlike in previous editions, there will be no automatic qualifiers and holders Korea DPR, runners-up Turkmenistan and third-placed Tajikistan will have to navigate the qualification phase in order to return to the final phase.-Online
International & Continuation
Wednesday, February 9, 2011
China raises rates to battle stubbornly high inflation BEIJING: China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fastexpanding economy against stubbornly high inflation that threatens to unsettle global markets. The timing was a surprise, coming on the final day of China's Lunar New Year holiday, but investors have long expected more monetary tightening as Beijing struggles to rein in price pressures and ward off a property bubble in an economy that grew at a doubledigit pace last year. Benchmark one-year deposit rates will be lifted by 25 basis points to 3 per cent, while oneyear lending rates will also be raised by 25 basis points to 6.06 per cent, the People's Bank of China said. The changes go into effect on Wednesday. Although annual inflation slowed in December, analysts polled by Reuters expect it to have picked up to 5.3 per cent last month, the fastest pace in more than two years, on the back of soaring food prices. "It is the first interest rate rise in the Year of the Rabbit, but it will not be the last," said Xu Biao, an economist with China Merchants Bank in Shenzhen, referring to the country's new year, which began last week. "If inflation stays high in February, the central bank will be forced to increase interest rates on a continuous basis," he added. "Investor confidence will be seriously hurt by expectations of aggressive policy tightening." Fearing tighter monetary policy will dampen demand in a country whose growth helped lift the world out of the global financial crisis, commodity markets fell after the central bank announcement. Three-month copper fell below $10,000 a tonne and US crude futures prices dropped. The MSCI world equity index held on to gains, trading up 0.15
per cent, but the FTSEurofirst 300 index was down 0.3 per cent, turning negative after China's move. For now, however, Chinese officials have insisted that inflation will be controllable and domestic investors have priced in only gradual tightening. Chinese stocks could, in fact, rise slightly when the market reopens on Wednesday to catch up with Asian counterparts that have rallied during China's week-long holiday. TIGHTENING CYCLE This is the third rate increase since China began a monetary tightening cycle in earnest in October. It announced the last rate rise on December 25. Wary of raising rates too high, China has leaned most heavily on quantitative tools in its tightening, forcing banks to lock up more of their deposits as reserves seven times over the past year and also ordering them to lend less. Beijing has also imposed a slew of measures to target property prices that have stayed stubbornly high. The country's leaders, acutely aware of public anger over unaffordable housing, have said they would not tolerate property inflation and speculation. "I didn't think it (China's rate hike) would happen today, but it doesn't matter whether you think it will happen today or tomorrow. You know that interest rates are going up," said Mike Lenhoff, chief strategist at Brewer Dolphin in London. Excessive cash in the economy, partly stemming from China's huge trade surplus, is a root cause of fast-rising prices and Beijing hopes that higher rates will encourage savers to keep more of their money in banks and also weigh on demand for mortgage loans. Anti-inflation talk from the central bank in recent months has primed investors for more policy tightening and, even with the latest move, many believe
further tightening is in the cards. Economists forecast in December that China's one-year deposit rate would climb to 3.25 per cent by June. A stronger currency would be another weapon against inflation, reducing the cost of imported goods. But Beijing is expected to keep the yuan to its path of gradual appreciation, frustrating critics from the United States to Brazil who say an undervalued exchange rate gives Chinese firms an unfair advantage in global trade. SIGN OF STRENGTH While tighter policy may have tapped the brakes on the Chinese economy and taken a toll on the domestic stock market , which has dropped 12 per cent since hitting a 2010 high in November, analysts believe the country's slowdown will be moderate. China's economy is likely to grow 9.3 per cent in 2011, according to a Reuters poll, down from a pace of 10.3 per cent last year that many feared was unsustainable. If anything, that Beijing is tightening policy at a time when US and euro zone interest rates are at record lows is a mark of confidence within the country that its economy, the world's second-largest, is on solid ground. "Global markets may begin to see the frequent rate hikes as a sign that growth slowdown in China is inevitable, which could briefly weigh on market sentiment," said Dariusz Kowalczyk, economist with Credit Agricole-CIB in Hong Kong. "But in the end, the move will be seen as a sign of strength, with solid growth momentum allowing policymakers to raise rates. And in the end global markets should respond positively to such moves aimed at controlling inflation," he said.Reuters
Lacker says better economy requires Fed rethink NEWARK: The Federal Reserve should seriously consider pulling back on its $600 billion stimulus program given stronger growth and a brighter jobs picture, Richmond Fed President Jeffrey Lacker said on Tuesday. Despite a report last week showing only 36,000 jobs were created in January, Lacker said other measures were pointing to a firmer economic recovery and better employment prospects. "An array of forward-looking indicators of employment trends point to continued labor market improvement," Lacker, a known inflation hawk, told a business gathering at the University of Delaware. In November, the Fed launched a controversial bondbuying program to support a fragile recovery. Lacker noted the central bank had committed to regularly reviewing the pace and size of purchases. "The distinct improvement in the economic outlook since the program was initiated suggests taking that reevaluation quite seriously," he said. Lacker expects the US economy, the world's largest, to expand by about 4 per cent in 2011, a rate he said should be sufficient to boost hiring and lower unemployment. The US jobless rate fell to 9.0 per cent in January. Fed Chairman Ben Bernanke made clear in remarks last week that he does not consider the progress sufficient to declare victory and begin withdrawing monetary support. While many Fed officials consider inflation to be too low at the moment, Lacker reiterated his case that prices are actually "low and stable." Indeed, he said, it was still unclear whether recent spikes in commodities prices would have longer-lasting effects on US consumer prices. "The effect on overall inflation could be transitory, or could persist if firms, encouraged by accelerating demand growth, pass input prices on to their customers," Lacker said.Reuters
CONTINUATION order. He vehemently appreciated role of President Asif Ali Continued from page 12 No #1 Zardari who transferred the powers to the parliament and said now He added that in addition, 194,056 duty draw-back customs all the decisions are being approved through the parliament which cases involving refunds of Rs4904 million were got settled during is a remarkable and bold decision. 2010. Dr Suddle said that further amount of Rs191 million was He stressed the need for promoting of tax-paying culture in the got refunded in 70 sales tax cases.-APP country. For the first time in the history of the country, a trader Continued from page 12 No #2 was awarded Sitara-e-Imtiaz for paying tax, he said and made it Gilani went around different sections of the facility and clear that PPP will continue to encourage and give incentives to expressed satisfaction that the project milestones were being the traders who are paying tax voluntarily. He assured the RCCI accomplished in an efficient and timely manner. He said Pakistan members that their problems will be addressed and a soft policy Airforce with a initiative like JF-17 program was not only render- will be introduced to promote the industry of the country. ing valuable services for strengthening the national defence but Federal Law Secretary, President RCCI Syed Ali Raza Saeed also providing a valuable opportunity to the youth. Shah, former President of RCCI and representatives of traders "It is an opportunity involving a more constructive and positive were also present on the occasion. -APP approach to life that offers education, livelihood and training and Continued from page 12 No #7 leading to a better life," he said. Gilani exhorted all the personnel Syed Wasimuddin, chief spokesman of the State Bank of associated with the project to commit all "faculties of body and Pakistan, said this was the rupee's strongest closing since June 10, soul" for its success. He expressed hope that with Allah's blessing 2010. A record inflow of remittances, strong foreign exchange and commitment, many more laurels shall come in shape of timereserves positions, healthy exports and a current account surplus ly completion of projects. -Agencies were the reason for the gain in the rupee's value, he said. Continued from page 12 Dealers said trade was likely to pick up soon in anticipation of No #3 Sources have added that government has started efforts to bring healthy corporate results. Pakistan State Oil is scheduled to release quarterly earnings on Wednesday (today), and the MCB him back to country.-Online Bank will announce a performance report on Thursday. In the Continued from page 12 No #4 money market, overnight rates ended little changed at between He informed that they will soon be organising series of lectures 11.50 and 12.0 per cent, and dealers said the market was eyeing in Pakistani educational institutions to boost awareness and relathe fortnightly treasury bills auction on Wednesday, for which the tions. At the occasion, Raza Khan, Chairman Coordination at central bank has set a target of 150 billion rupees ($1.76 billion). FPCCI Capital Office said that Government and business commuContinued from page 12 nity of Pakistan attaches great importance to its relations with No #8 Turkmenistan and want to further strengthen it. He said that local "in complete darkness for the last 24 hours." The separatist exporters can explore opportunities in Turkmenistan in the sectors Baloch Liberation Army called media offices in Quetta, saying it of detergents, leather garments, clots and pharmaceuticals. had blown up the pylons and threatening to stage further attacks. FPCCI will try its best to cement economic cooperation and The activists target government installations, security forces, people to people contact, he added. Underlying the need to the gas pipelines, railway tracks and electricity pylons as part of a pace of economic development and progress Raza Khan proposed drive to win more autonomy and control over the natural a Joint Business Council with its offices in capital cities of both resources of Pakistan's biggest but poorest region. The governcountries. He offered the services of FPCCI to Berdiniyazov for ment of President Asif Ali Zardari, who replaced Musharraf, has interaction with business community of Pakistan.Raza said that tried to pacify Baluch nationalists by announcing huge developthe pipeline project should be materialised without further delay ment schemes for the region, but this has failed to stop separatist in order to meet growing energy shortages. -NNI violence. The militants and Baluch politicians complain of a lack of political representation and say their province's resources are Continued from page 12 No #5 exploited for other parts of Pakistan -- especially Punjab, the most A framework on the potential taxpayers will be developed and populous and prosperous province. Pakistani officials accuse old submitted to ECC for approval by 15th February. Regular meet- rival India of stirring up trouble in the region, allegations denied ings shall be held for analyzing sectoral revenues in details, lead- by New Delhi. Militants linked to al Qaeda and Taliban are also ing to needed corrective measures. Frequent meeting will also be active in Baluchistan, but officials say there is no evidence that held with all the stakeholders of revenue generation process for they have links with Baloch separatists.-Agencies determining causes of revenue decline and taking remedial Continued from page 5 No #9 actions therein. -Online The banking sector index shed 2.3 per cent. Subir Gokarn, a Continued from page 12 No #6 deputy governor at the Reserve Bank of India, said on Monday He said that real democracy keeps on shinning while dictator- that the monetary policy stance remained anti-inflationary, as ship left the country into darkness, adding democracy dispels the headline inflation at 8.43 per cent continues to be high. So far this wrong impression. The credit for the democracy in the country year, the BSE index has lost 13.3 per cent, making it the worst goes to Shaheed Benazir Bhutto, he said and added, "This is a performer amongst its peers in Brazil, Russia and China, on forgreat success and now, we are moving towards the right path as eign fund outflows of $1.3 billion. Investors spurned emerging Pakistan is stable and foreign reserves are touching the new market equities, moving more cash into developed market stocks height." Babar Awan congratulated the Pakistan Army and the on a brightening economic environment, fund-tracker EPFR people for maintaining peace in tribal areas and said development Global said on Friday. Tata Steel , the world's seventh-largest steel projects have been started owing to establishment of law and maker, fell 3.2 percent and non-ferrous metals producer Sterlite
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Industries lost 2.5 percent. Market breadth was weak with more than four shares declining for every share that advanced on low volume of 238 million shares. -Reuters
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NI(U)T-LOC Holders Fund As per the agreed settlement plan, NIT has already transferred almost the entire portfolio of NIUTLOC Holders Fund to its four unit holders. The balance of portfolio --still with the Fund-- represents the strategic/frozen portion comprising shares of PSO and SNGPL which is likely to be settled shortly. NIT-State Enterprise Fund (NIT-SEF) NIT-SEF has earned a net profit of Rs2,061 million (earning per unit of Rs7.04) against the net profit of Rs1,081 million earned by the Fund in the corresponding period of last year, thus showing an outstanding growth of 90.6%. The Fund earned a dividend income of Rs437 million as against the dividend income of Rs433 million earned in 1HFY10. The Fund realised capital gains of Rs479 million in 1HFY11 whereas no capital gain was realised during 1HFY10.
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UBS raised its 2011 target for the S&P by 7.5 per cent to 1,425, citing an improving outlook for the economy and earnings.-Reuters
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Li Ka-shing-controlled Cheung Kong fell 3.1 per cent, while rival Sun Hung Kai Properties shed 2.2 per cent.-Reuters
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one actually affecting investors' views towards the major UK banks," said Ben Critchley, a sales trader at IG Index.Xstrata gained 1.7 per cent after the miner beat forecasts with an 86 per cent jump in full-year profit on stronger commodity prices, gave a positive outlook for 2011, and set its final dividend at 20 cents. "This reflects a return to pre-financial crisis levels and confidence in the medium-term outlook, and underscores our buy recommendation," said Daniel Harris, head of dealing at CFD and spread betting firm H2O Markets.-Reuters
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are joined against the agreement, added issue is not political while the employees are trying best to save their livelihood. On the other hand, PIA spokesman said, "We have not yet signed any agreement with the Turkish Airlines and all allegations are baseless." "Talks are underway with the representatives of various associations of the national carrier to resolve any misunderstanding whatsoever," he added.
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They told Rs419 millions were allocated for the current fiscal year, out of which Rs84 millions are disbursed to constructors. Post briefing, members of Combined Development Committee unanimously signaled go-ahead for lodges' extension project and also to look after the project, a five-member special committee was devised so to ensure the quality of construction and its' in-time completion. -Online
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The meeting was apprised that around 20 lac tons of new sugar stood produced on 7th February 2011. 7 lacs and 33 thousand tons were sold leaving a balance of 12 Lacs and 93 thousand tons. The imported stocks with TCP are 4 lacs 62 thousand tons till today. As such the total domestic and imported stocks available are around 17 Lacs 56 thousand tons. PSMA informed that the sugar production in 2010-11 would be around 3.6 million tons. PSMA proposed that the government should build strategic reserves through procurement from the domestic producers as the sugar was cheapest in Pakistan. So far the private sector has opened LC's for import of 155,000 tons of both white and raw sugar. The raw sugar was imported from India. The Provincial Cane Commissioners assured that the outstanding payments of growers would be got cleared at the earliest. The PSMA said that it was incumbent on all millers to honor all Cane Purchase Receipts. The meeting expressed its satisfaction at the level of sugar stocks and prevailing price. Keeping in view decrease in consumption of sugar, there was consensus in the meeting that there would be no need to import sugar this year. However, the next meeting will be convened next month in end of March 2011 to gauge the exact and final position of stocks and requirement of imports. -Agencies
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the fight against militancy and also work for the welfare and uplift of the people of Khyber-Pakhtunkhwa and Fata. Spokesperson to the President Farhatullah Babar said President advised Barrister Kausar to give special attention to the development of tribal areas particularly in early implementation of the reforms announced on the Independence Day 2009 to bring the people of Fata in the mainstream of national life and remove their sense of deprivation. Barrister Kausar thanked the President for the huge confidence reposed in him and assured that he would do his best to live up to the expectations of the people of KhyberPakhtunkhwa and Fata. Barrister Syed Masood Kausar has been a former speaker KPK Assembly, Advisor, Senator and President PPP KPK. He is brother of renowned poet late Ahmad Faraz. -APP
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address of the President to the joint sitting of the Parliament as Zardari would like to take nation into confidence on critical issues in the light of his inter action with the leaders of political parties in the Parliament. President would contact PML-N Quaid Mian Nawaz Sharif, PML-Q's Chaudhry Shujaat Hussain, ANP's Asfandyar Wali, MQM's Altaf Hussain, JUI-F's Maulana Fazlur Rehman and Fata members and extend them personal invitation for the roundtable. Meanwhile, Prime Minister Gilani took in confidence President Asif Ali Zardari on formation of new cabinet besides a consensus was made that no pressure will be exerted on the much talk of the town Raymond Davis case and holding Round Table Conference etc. -Agencies
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worldwide in near future, adding at present more than 1100 institutions were offering Islamic finance service across the globe. The size of investments in Islamic banking system reached to Rs424 billion till 2010 in the country, he said, added government was taking measures to encourage Islamic banking and finance. He said the Islamic banking was also very productive for the agriculture field which could take benefit of it, however urged the banks to extend their role and reach to the farming community. He highlighted the importance of modernizing the overall banking system of the country for the economic progress. He said the Islamic banks, coupled with a number of dedicated Islamic academic, legal, regulatory and supervisory institutions could provide a solid platform for future growth and development of the Islamic finance industry. The federal minister called up the Islamic banking institutions to enhance awareness about Islamic banking products and develop human resource by facilitating and arranging training workshops, short-term courses and particularly offering post graduate academic institutions. Speaking on the occasion, Vice Chancellor, Riphah International University, Dr Anis Ahmed highlighted various aspects of the Islamic banking. Senator, Prof Khursheed Ahmed while speaking on the occasion said that adoption of Islamic way of banking was the need of the hour adding that the Islamic banking and finance represents a change of paradigm. -APP
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Out of total operational cement production capacity of 41.235 million tonne, 34.264 million tonne is in the northern part of the country, while 6.970 million tonne is in southern region. Another 2.68 million tonne capacity will be added this fiscal with operation of new plant of Fauji Cement. The capacity utilisation of the cement industry has constantly on a decline since 2004-05 when it reached a peak of 91.32 per cent. In 2009-10 it dropped to 76.53 per cent while during the first seven months of this fiscal the capacity utilisation has been 71.55 per cent only. The mills operating in the north lost almost all export orders through sea because of exorbitant transportation charges from their plants to the sea ports. "The transportation cost has made the cement export unviable for plants located in the upper parts of the country" said a spokesman of the All Pakistan Cement Manufacturers Association (APCMA). The industry's hope of increasing sales through accelerated exports suffered a setback due to exceptionally high increase in transportation cost and governments failure to provide its promised freight subsidy. Exports that increased by 140 per cent in 200708 to 7.77 million tonne and then in 2008-09 by over 39 per cent next year to 10.75 million ton registered nominal decline of 0.89 per cent in 2009-10 to 10.65 million tonne. The exports declined by 17.03 per cent in the first seven months of this fiscal to 5.19 million ton. Cement sector experts have urged the government to rescue the ailing cement industry that has posted huge losses last fiscal and in the first quarter of this financial year. They pointed out that energy is the major input cost of cement industry and the rates of all fuels like gas, coal and furnace oil have increased extraordinarily.
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Pakistan's deliveries reached a little over 11 million bales this week. With only 700,000 bales remaining, Pakistan will fall short of its domestic needs. "We will need to import between 1.5 million and 2 million bales more to meet demands until June," said Naseem Usman, chairman of the Karachi-based Cotton Brokers Forum. The new harvest will start pouring onto the market in July. Pakistan textile firms have looked toward India, the world's second-biggest producer, to meet most of their demands. But supplies from India have been slower and fewer after most of the Indian traders failed to honor deals with their Pakistani buyers, citing the failure to register their export orders with Indian authorities in time. India suspended the online process of registering cotton exports in early October after receiving applications equal to the Nov 1-Dec 15, 2010 export cap of 5.5 million bales. But they failed to ship between 1.7 million and 1.9 million bales, so the deadline was extended until Feb 25.-Reuters
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Davis case would not affect Pak-US relations. She refused to comment on the arms recovered from the Davis custody.-Agencies
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In Pakistan, the issue has become embroiled in widespread anti-Americanism and suspicions, fanned by the Pakistani media and used for political advantage that USA spies and intelligence contractors are secretly operating in the country. The most powerful opposition group, the Pakistan Muslim League headed by former prime minister Nawaz Sharif, rules Punjab province and its capital, Lahore, where Davis is being held and several hearings have taken place in the case. Although the administration has been unequivocal in its insistence that David has diplomatic status, it has been less than clear on the nature of his job in Pakistan over the last two years. An early embassy statement said it was "security" related, while officials in Washington have said that he vetted questionable visa applicants. The CIA has declined to comment on the case. Although Pakistan Peoples Party government has close relations with the administration, and depends on the billions of dollars in US military and economic assistance, it fears being painted as a US lackey. A foreign ministry official said that the government itself is divided over the case. The ministry has determined that Davis is immune from prosecution based on his passport and diplomatic visa, and the fact that Pakistan "accepted" that when the Davis first arrived in the fall of 2009, the official said. Other parts of the government, he said, see some advantage in using the situation to prove the government's independence from Washington. But the Americans, he said, "have dropped hints they could go to any extent" to get Davis released. Further complicating the situation, a Pakistani intelligence official said that the two men Davis killed were not, as he has said, armed robbers intent on stealing money, his telephone and perhaps his car, but intelligence agents assigned to tail him. This official said the two intended to frighten Davis because he crossed a "red line" that the official did not further define. Both Inter-Services Intelligence service (ISI) and the Interior Ministry's Intelligence Bureau regularly use motorcycle tails to track the movement of US officials, another Pakistani official said.
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FS calls for promoting intra-regional trade
All must join hands, Pakistan urges Saarc
ISLAMABAD: Federal Minsiter for Finance Dr Hafeez Shaikh addressing the International Conference 2011 about Islamic Bussiness and Finance at National Institue of Banking and Finance (NIBAF).-Online
Gilani vows support to JF-17 plane project
Pak-China ties flying high: PM KAMRA: Prime Minister Syed Yousuf Raza Gilani Tuesday extended full support for the continuity of JF-17 Thunder aircraft programme, and said the project would prove as a flagship of Pak-China friendship. "This project can truly become as a flagship of our historic cooperation and strengthen our time-tested partnership," Prime Minister said while addressing a gathering of Pakistani and Chinese technicians during his visit to the JF-17 production facility at Pakistan Aeronautical Complex here. Gilani lauded the pace of JF-17 Thunder programme which had moved into a serial production stage in a
record time. He also acknowledged the role of Chinese experts for imparting technical know-how to the Pakistani technicians for the transfer of technology. "The support provided by our Chinese friends in this, and in so many other common projects between Pakistan and China is greatly cherished by every Pakistani," he said. Prime Minister termed the project a reflection of deeper bond between the two governments and the people. "The success of the project would add another glorious chapter in our long history of cooperation," he said. See # 2, Page 11
Envoy says wants to enhance ties
Ashgabad offers Pak energy help ISLAMABAD: Ambassador of Republic Turkmenistan to Pakistan Sapar Berdiniyazov on Tuesday said his country wants to enhance economic and cultural ties with Pakistan which is one of the best investment destinations in the region. He said Turkmenistan can help Pakistan overcome energy crisis which was hampering growth in the brotherly country. TAPI gas pipeline will be another significant development in the relations between the two countries, he said. "Apart from surplus gas we also have excess electricity that can be marketed in Pakistan for mutual benefit," he said.
Speaking at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Capital Office here, Sapar Berdiniyazov said the two countries enjoy cordial, brotherly ties based on the common culture and history. He said we aim to expand the cooperation between the two countries in various fields including oil, gas, energy, agriculture, science, technology, infrastructure and education. For the purpose, officials of the Embassy of Turkmenistan plan to visit all important business chambers for interaction with business community, he said. See # 4, Page 11
Musharraf told to face BB case RAWALPINDI: Federal Minister for Law and Parliamentary Affairs Dr Babar Awan said Tuesday that former president Pervez Musharraf should face the courts in Benazir Bhutto assassination case as the judiciary is independent in its decision-making and dispensation of justice. Talking to reporters after addressing traders' representatives at Rawalpindi Chamber of Commerce and Industry (RCCI) here, he said that Pakistan Peoples Party has always respected the judiciary, and PPP also faced and accepted the verdicts of the courts with open heart and mind.
Court declares Monis as 'wanted' LAHORE: Lahore's Judicial Magistrate on Tuesday has declared Monis Elahi, the son of ex-chief minister Punjab Chaudhry Pervez Elahi, an absconder as he did not appear before the FIA wanted in the investigations of NICL case. As per media reports, alleged culprit of the NICL scandal, Monis Elahi was to be presented before the FIA investigation team, but despite his confirmed booking for return to country from Dubai, he flew to London. Media reports have also confirmed his presence in London. FIA reportedly presented the report before the Judicial Magistrate of Lahore, Irfan Basra who declared Monis Elahi an absconder reasoning his repeated absence before the FIA tribunal. See # 3, Page 11
ISLAMABAD: Foreign Secretary Salman Bashir Tuesday reaffirming Pakistan's commitment to Saarc underscored the need for promoting inter-regional, trans-regional development cooperation and export-oriented trade. Foreign Secretary addressing at the Saarc Council of Ministers Meeting in Thimphu, Bhutan noted that over recent years Saarc had succeeded in laying a solid foundation for regional cooperation. However, given the flux in global and regional affairs and the complexity of challenges facing South Asia, Saarc had to
introspect on how best to position itself for ensuring development, stability and peace. It was important to make Saarc people-oriented; initiate projectbased cooperation; and serve as a vehicle to rediscover the treasures and wisdom of the East. Foreign Secretary underscored the need for promoting interregional, trans-regional development cooperation and export-oriented trade. Pakistan was actively promoting such cooperation. South Asian States needed to benefit from engines of global economic growth in Asia and be receptive to mutually beneficial
links that could accrue from the rise of economic powers contiguous to the Saarc region, like China, just as South East and North East Asia had benefited from the Japanese economic miracle. Foreign Secretary stated that multilateral processes were important; long on promise but short in form and format. What was required was demonstration of "real will". Pakistan also urged Saarc member states to join hands in eliminating the blights of terrorism and narcotics from the region as whole. -Online
Pak tax potential seen at Rs5tn ISLAMABAD: Federal Tax Ombudsman (FTO), Dr Shoaib Suddle here on Tuesday revealed that tax collection potential of Pakistan is about Rs4-5 trillion. "We have come to know that there is a pilferage in the taxation system and resultantly we are only collecting one third of the tax potential", Dr Suddle told a news conference here on Tuesday. Highlighting the performance of FTO Secretariat, he said that in the year 2010, the Office of Federal Tax Ombudsman received 1446 individual complaints of which 955 (66%) pertained to income tax, 276 (19%) to sales tax, 205 (14%) to customs and 10 (less than 1%) complaints involved the Federal Excise Duty. He added that out of these, 1261 (87%) complaints were decided by
December 31, 2010. Additionally, all 175 complaints pending from 2009 were disposed off March 31, 2010. The FTO said that the 83 percent of the decided complaints ended up in the favor of the taxpayers. Dr Shoaib Suddle further said that the average time taken per individual complaint to decide during 2010 was 67 days as compared to 117 days during 2009. He said that as a matter of fact, there was hardly a complaint that took more than 3 months to decide during 2010. Exceptionally, he said as against refunds of Rs.94 million in 231 individual cases in 2009, the amount refunded in 685 individual complaints during 2010 on the intervention of Federal Tax Ombudsman exceeded Rs. 1,972 million. He said that FTO secretariat has decid-
ed all complaints purely on merit basis. He said that there is no room for individual relief adding that FTO secretariat is making all out efforts for further improving its performance for the relief of the tax payers. He was of the view that if the taxpayer is treated well there will be no evasion of taxes in the country. He said that in 2010, the Federal Tax Ombudsman for the first time since its establishment in 2000 started conducting suo moto investigations involving matters indicating underlying systemic or major service-delivery issues. Under the suo moto jurisdiction, he said that the Federal Tax Ombudsman got settled 400 sales tax cases involving refund of Rs180 million, and another 805 cases of held-up bank guarantees amounting to Rs80 million. See # 1, Page 11
FBR to share data with Nadra ISLAMABAD: Two consecutive meetings of the Board-inCouncil chaired by Salman Siddiqui, Chairman FBR, were held at the FBR Headquarters on 3rd and 8th February. Apart from other administrative issues the Board's main agenda was to review and analyse the revenue positions from June, 2010 to January, 2011, and from February to June 2011. The Board had extensive technical deliberations and arrived at the conclusion that all the possible potential revenue sources would be tapped in order to meet the FBR's revenue targets for the current fiscal year. In this regard it was decided that: For broadening the tax base and effective enforcement the chairman along with CEO PRAL shall hold a meeting with Chairman Nadra for interfacing the potential taxpayers' data with Nadra. See # 5, Page 11
"Pervez Musharraf should face the courts in Benazir Bhutto murder case," he said, adding, PPP will play its role to wrap up the murder case. Commenting on Raymond Davis who killed innocent Pakistanis, he said his case was also in the court and the PPP will accept the verdict of the court. Babar Awan said that the PPP government believed in the reconciliation policy and all the stakeholders will be taken into confidence before formulating policies. The Minister expressed the confiStaff Reporter dence that the present government is would complete its tenure. KARACHI: The rupee gained See # 6, Page 11 sharply on Tuesday to end at an 8-month high amid soft demand for the dollar from importers and healthy inflows. Dealers said the rupee was expected to hold steady in the coming days. The rupee ended at 85.24/29 to the dollar, firmer than the would take to extinguish the fire and previous day's close of 85.49/54. resume gas supplies. "There were very few import The twin explosions followed a late Monday night attack on four transmis- payments and most of the oil sion pylons in the Bolan area, suspend- companies are quiet as well," ing power supplies to around half of said a dealer at a foreign bank." "Going forward, we do not the province's 30 districts. A spokesman for the government- expect any immediate payment pressure," said the dealer. In owned power company said that electricity to some parts of the provincial fact, healthy dollar inflows are capital of Quetta had been restored, but likely to keep the rupee stable the rest of the districts had been around current levels." See # 7, Page 11 See # 8, Page 11
Rupee at 8-mth high against dollar
Gas suspended to B'stan after blast QUETTA: Suspected tribal militants blew up two major natural gas pipelines in Pakistan's southwest on Tuesday, forcing the suspension of supplies to the strategic region bordering Afghanistan and Iran, officials said. "We have suspended gas supply to the province as the pipelines are on fire," Inayatullah Ismail, a spokesman for Sui Southern Gas Company (SSGC) that supplies gas to the southern parts of the country told Reuters. Ismail said he was unsure how long it
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