International Karachi, Friday, February 11, 2011, Rabi-ul-Awwal 7, Price Rs12 Pages 12
Malik says issues to be resolve in 2-3 days See on Page 12
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
$17.31bn 14.55% $13.23bn $22.55bn $(9.32)bn $26mn $6.12bn $1.05bn Rs 765bn $58.41bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.13mn
Economy revival steps deliberated PM urged for early formation of Cabinet
Portfolio Investment SCRA(U.S $ in million)
197.29 -3.46 -5.44 3091
Yearly(Jul, 2010 up to 8-Feb-2011) Monthly(Feb, 2010 up to-8-Feb-2011) Daily (8-Feb-2011) Total Portfolio Invest (28 Jan-2011)
NCCPL (U.S $ in million)
FIPI (10-Feb-2011) Local Companies (10-Feb-2011) Banks / DFI (10-Feb-2011) Mutual Funds (10-Feb-2011) NBFC (10-Feb-2011) Local Investors (10-Feb-2011) Other Organization (10-Feb-2011)
0.47 -1.20 -0.84 -0.91 0.22 1.38 0.86
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,187.47 10,605.65 22,708.62 17,463.04 2,710.61 2,818.16 6,002.01 12,171.96
Change 111.81 12.18 455.41 129.73 1.48 44.10 50.28 67.93
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)
$.Price PKR/Shares 2.60 110.54 18.18 154.58 2.00 42.51 1.70 36.14 11.12 37.80
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
09-Feb-2011 09-Feb-2011 09-Feb-2011 29-Nov-2010 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011
13.53% 13.69% 13.86% 14.00% 13.36% 13.63% 13.77% 14.13% 14.25% 14.21% 14.25% 14.26% 14.61% 14.78% 14.97%
Commodities *Crude Oil (brent)$/bbl 101.76 *Crude Oil (WTI)$/bbl 87.63 *Cotton $/lb 187.14 *Gold $/ozs 1,355.00 *Silver $/ozs 29.92 Malaysian Palm $ 1,307 GOLD (NCEL) PKR 37,483 KHI Cotton 40Kg PKR 12,325
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 84.90 Canadian $ 84.70 Danish Krone 14.70 Euro 115.70 Hong Kong $ 10.70 Japanese Yen 1.017 Saudi Riyal 22.65 Singapore $ 66.00 Swedish Korona 12.60 Swiss Franc 86.10 U.A.E Dirham 23.15 UK Pound 136.20 US $ 85.25
Sell (Rs)
85.90 85.70 15.00 117.00 11.20 1.043 22.85 67.00 13.00 86.70 23.40 137.80 85.55
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
85.81 85.44 15.64 116.58 10.92 1.030 22.68 66.68 13.20 88.63 23.16 136.92 85.03
86.01 85.64 15.67 116.86 10.95 1.033 22.73 66.84 13.23 88.84 23.21 137.24 85.22
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Shifts some powers to vice president
PM Gilani calls on President Zardari
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 - Jan 11) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10)
Mubarak stays put, defies all pressures
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing at 6th Population and Housing Census Pakistan 2001. -APP
Suicide bomber hits Army compound
Teen-bomber kills thirty-five recruits MARDAN: At least 35 soldiers were killed and 54 wounded when a teenage bomber blew up himself in parade ground at Punjab Regiment Center (PRC) area here on Thursday. According to the media reports, suicide bomber blew himself up as a result 20 soldiers were martyred instantly while 40 got injured in which 20 got seriously injured. The dead bodies and injured where shifted to Combined Military Hospital (CMH) Mardan. Later the death toll rose to 35. DSP Abdul Samad Khan said the bomber managed to sneak into the otherwise heavily guarded training centre wearing a school uniform as a disguise. The army has carried out a
series of offensives against the al Qaeda linked Pakistani Taliban movement, which claimed responsibility for the attack. Operations in lawless tribal areas along the Afghan border have failed to break the resolve of Taliban fighters determined to destabilise the US-backed government. The brazen bombing in the northwestern town of Mardan suggested militants are regrouping after a lull in major attacks. In a sign of how nervous the government is about security, soldiers at the gates of the military compound searched drivers before allowing them to transport coffins inside. "The bomber struck recruits when cadets were busy in their
morning training," a military official said. The boy apparently walked into the compound, officials said. "It seems the Taliban are still a very potent force because they continue to attack installations, even if they have been quiet for a time," said former General Talat Masood. "They reassert themselves after a while, and it will be a while before we consider them to be less of a threat." Prime Minister Gilani condemned attack at the Punjab Regiment Center. "Such cowardly attacks cannot affect the morale of the security agencies and the resolve of the nation to eradicate terrorism," he said in a statement. -Agencies
Gilani hails progress in Thimpu talks
7M sales hike 11.5pc
Pak, India set to resuscitate talks
Auto sales race up 64pc in January
NEW DELHI/ ISLAMABAD: India and Pakistan have agreed to revive peace talks with Pakistan, which were broken off by New Delhi after the 2008 Mumbai attacks, saying Thursday discussions between the nuclear-armed rivals would start before July. Both nations have been under pressure from the United States to resolve contentious issues, including concerns about militant violence and the disputed Kashmir region. Their rivalry spills over into Afghanistan, complicating peace efforts there. A senior Indian government official said the decision to return to talks was made at a meeting between the two countries' top diplomats in Bhutan's capital, Thimphu, on the margins of a regional conference. Senior officials of the two
countries would hold a series of talks on outstanding issues such as counter-terrorism and Kashmir ahead of a visit to India by Pakistan's foreign minister by July, Pakistan's foreign ministry said. "They have agreed to resume dialogue on all issues," the ministry statement said. "I am cautiously optimistic about the talks. Cautious because there are so many variables and unknowns involved," said Amitabh Mattoo, professor of International Relations at Jawaharlal Nehru University. "The new talks are in effect the formal resumption of the composite dialogue," a senior Indian official involved in repairing ties with Pakistan told Reuters. "What happened in Thimphu See # 12 Page 11
Waqar chairs meeting today
Cabinet body to moot SOE-bonds ISLAMABAD: Federal minister for privatisation, Senator Waqar Ahmed Khan has convened meeting of the subcommittee of the Cabinet Committee on Privatisation today (Friday) to discuss the matter of issuing equity linked instruments (convertible bonds). The subcommittee was formed under the chairmanship of Minister for Privatization on Feb 3 to formulate recommendations for the issuance of con-
vertible bonds of State Owned Entities (SOEs) in the capital market. The other members of the committee include, Deputy Chairman Planning Commission, Dr Nadeem-ul Haq, Secretary Ministry of Finance, Dr Waqar Masood Khan, Governor State Bank of Pakistan, Shahid Hafiz Kardar, Secretary Ministry of Petroleum and Natural Resources, Imtiaz Kazi, See # 13 Page 11
Ghulam Raza Rajani KARACHI: Auto sales showed an improvement as cumulative car, LCVs and pickup sales surged 11.5 per cent to 82,767 units during 7MFY11 compared with 74,219 units in 7MFY10, according to the latest data released by PAMA. On the other hand, sales of car, LCVs and pickup significantly hiked 64 per cent MoM to 14,668 units in the month of January 2011 against 8,943 units in December 2010. Reasons of surge in sales in month of January mainly due to availing the New Year's registration as December sales was down by 24 per cent MoM. As per details, amongst the individual categories, car See # 10 Page 11
Pak testfires Hataf-VII missile RAWALPINDI: Pakistan on Thursday successfully testfired the indigenously developed Cruise Missile Hataf-VII (Babar) with having a range of 600-km. According to ISPR, the missile tests are part of a process of validating the system. Babar, which can carry strategic and conventional warheads, has stealth capabilities, is a low flying, terrainhugging missile with high maneuverability, pinpoint See # 11 Page 11
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Thursday took into confidence President Asif Ali Zardari on formation of new cabinet along with the proposed roundtable of the political parties. Sources added that President Zardari directed PM Gilani to complete the consultation process of new cabinet at the earliest so that work can get started. According to sources, Prime Minister Gilani took into confidence President Asif Ali Zardari on formation of new cabinet besides its formation that will be completed phasewise. President also directed PM Gilani to chalk out differences of MQM and JUI, as government cannot afford more lapses in this regard. Matters regarding current situation in the country and the proposed roundtable of the
political parties were discussed during the course of meeting. The two leaders also reviewed the state of economy in the country and the measures being taken at various levels for the revival and strengthening of the war and flood ravaged economy. Furthermore, President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani jointly chaired a high-level presentation to review the economic situation in the country at the Aiwan-e-Sadr. The presentation was attended by Dr Abdul Hafeez Shaikh, Senator Waqar Ahmad Khan, Dr Nadeem-ul Haq, Deputy Chairman Planning Commission, Shahid Hafiz Kardar, Governor State Bank of Pakistan, Hina Rabbani Khar, M Salman Faruqui, Secretary General to the President, Malik Asif Hayat, Secretary to the President, Khushnood Akhtar Lashari, PSPM, federal secre-
7M remittances reach over $6bn Staff Reporter KARACHI: Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $6,118 million was received in the first seven months (JulyJanuary) of the current fiscal year 2010-11, showing an increase of $919.92 million or 17.70 per cent when compared with $5,198.08 million received over the same period of the last fiscal year. The inflow of remittances in the July-January, 2011 period from UAE, Saudi Arabia, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $1,437.05 million, $1,353.40 million, $1,145.71 million, $721.47 million, $669.70 million and $195.66 million respectively as compared to $1,180.24 million, $999.41 million,
$1,061.89 million, $737.72 million, $550.35 million and $157.93 million respectively in the July-January, 2010 period. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first seven months of the current fiscal year amounted to $594.98 million as against $509.55 million in the same period last year. The monthly average remittances for the July-January 2011 period comes out to $874.00 million as compared to $742.58 million during the same corresponding period of the last fiscal year, registering an increase of 17.70 percent. In January 2011, an amount of $826.57 million was sent home by overseas Pakistanis, up 23.76 percent or $158.67 million, when compared with $667.90 million received in the same month last year.
FIA finds corruption evidences
Court orders to cuff Kazmi ISLAMABAD: Supreme Court of Pakistan has issued arrest warrants of sacked minister for religious affairs Hamid Saeed Kazmi on the report of FIA and has remarked that warrants can be obtained from the subordinate court to arrest Hamid Saeed Kazmi. 8-member special bench of SC presided over by the Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry took up Hajj corruption case for hearing on Thursday. FIA told the SC that evidence
had been found about involvement of sacked minister for religious affairs in Hajj corruption, adding he had got commission and kickbacks. FIA team had started proceedings to arrest him, court was informed. "Those who were involved in Hajj corruption were holding accounts in Turkish banks", justice Ramday remarked. Court said statement of Zain Sukhera had been recorded and FIA had mentioned in its report that he See # 8 Page 11
FX reserves down at $17.31bn Staff Reporter KARACHI: Pakistan's foreign exchange reserves fell to $17.31 billion in the week ending February 5, down from a record $17.38 billion the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) fell to $13.76 billion from $13.85 billion in the week ending Feb 5, while those held by commercial banks rose See # 9 Page 11
taries finance, revenue division, planning commission and privatization, Abdul Wajid Rana, special secretary finance, Hasan Nawaz Tarar, acting secretary EAD and spokesperson to the President Farhatullah Babar. The meeting also reviewed the performance of the agriculture sector, the large scale manufacturing sector, the balance of payment, inflation and the foreign remittances. Meanwhile, addressing the inauguration ceremony of 6th population and housing census Prime Minister Gilani said that not only 1-point agenda but all hot issues would be discussed in roundtable called by President Asif Ali Zardari. He further said that the government of Pakistan has decided in a meeting of the Council of Common Interest to hold the next Population and Housing Census in the country in 2011 See # 7 Page 11
President reiterates to uproot militancy ISLAMABAD: President Asif Ali Zardari Thursday called for joint efforts to fighting the menace of militancy and extremism by strengthening the country's democratic institutions. "We will root out militancy and extremism from our land, no matter what the price," the President said at a ceremony of allotment of plots and apartments to the families of martyrs, at the Presidency. The ceremony was specially held to honor those who laid down their lives during the byelections in Attock, during the movement for restoration of judiciary in July 2007 and those who martyred along with Shaheed Mohtarma Benazir Bhutto on December 27, 2007 in Rawalpindi. According to prepared text of the speech the President said that the government had taken measures to rehabilitate the families of those who laid down their lives to protect Shaheed Mohtarma Benazir Bhutto. "Giving a plot or an apartment is no compensation for the sacrifice rendered by the heroes. This is our duty and we will do more to honor the families of heroes of democracy," he said. He said this was no compensation to the sacrifices they rendered as there is no price for life. Instead, the President said it was merely recognition by the Pakistan Peoples Party government of its martyrs. Spokesperson to the President Mr. Farhatullah Babar said that the President said the list of Shuhada was long and mentioned the martyrs of October 18, 2007 and those who laid down their lives during struggle for democracy at different times. The ceremony was also attended by Parliamentarians, provincial ministers, families of martyrs and other high officials. -Online
2 Qaim urges measures for screening, vaccination against hepatitis KARACHI: Chief Minister Sindh Syed Qaim Ali Shah has underlined the need to create awareness among masses about causes and remedial measures against most harmful silent killer disease Hepatitis B and C so as to save the innocent people. This he observed while holding meeting of Health department in connection with C.M's initiative for Hepatitis Free Sindh" at Chief Minister House on Thursday. He said that a law will be discussed to provide admissions in schools to
prepared by Sindh Health Department was also under active consideration and necessary decision will be taken soon. Chief Minister Sindh expressed his satisfaction on progress and achievement for implementing the Hepatitis programme in a befitting manner. He appreciated that the Health department has achieved more than targets fixed for the programme. Chief Minister Sindh keeping in view the increasing cases of Hepatitis in the province, and over and above
screening, vaccination and treatment. Syed Qaim Ali Shah stressed the need to encourage precautionary and preventive measures about Hepatitis on which Seminars, symposiums, walks and rallies be held for awareness of people. Sindh Health Minister Dr. Sagheer Ahmed and Sindh Health Secretary Hashim Zaidi highlighted the progress about Hepatitis programme and other schemes and programmes of Health Department. Programme Manager of Chief Minister's Initiative
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah presiding over a meeting regarding Hepatitis Programme at Chief Minister House.-APP
only those children who will present and submit a copy of certificate that the child has been vaccinated against Polio and Hepatitis. Syed Qaim Ali Shah informed that the draft law for regulating the private items and hospitals
Govt urged to focus on economic issues LAHORE: Former LCCI President Mian Anjum Nisar has said that the government should focus its attention towards real economic issues and come up with a comprehensive solution to the challenges so that the business community could be able to do their businesses with peace of mind. According to a handout, he said this while speaking at Annual General Meeting of Lahore Township Industries Association here on Thursday. MNA Naseer Bhutta, former LCCI Presidents Mian Shafqat Ali, Mohammad Ali Mian and newly elected Chairman of Lahore Township Industries Association Haroon Shafiq Chaudhry also spoke on the occasion.-Online
achievement of the programme, agreed in principle to extend the "Chief Minister's initiative for Hepatitis Free Sindh" programme for more 3-years so as to cover the remaining and remote areas of province with provision of necessary facilities of
8-member LCCI delegation to visit South Africa Staff Correspondent LAHORE: An eightmember LCCI delegation is leaving on Saturday for a 12-day business visit to South Africa to explore new business avenues and enhance two-way trade. The delegation headed by LCCI Executive Committee Member Dr Shahid Raza would have meetings at various chambers and trade organizations in South Africa. The LCCI business delegation would also have one-on-one meeting with their counterparts in Johannesburg, Pretoria, Durban, Port Elizabeth and Cape Town so that the flow of Foreign Direct Investment could get a
FRIDAY 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 19:30 20:03 21:00 22:03 23:00 23:30
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boost in real terms. In the first phase of visit, the delegation would meet Pakistan's High Commissioner to South Africa Zaigham Uddin Azam and the members Minara Chamber of Commerce and Industry. The delegation would also visit various industrial units in Johannesburg. The delegation would have another meeting with South African Trade and Investment officials in Pretoria. In the next phase, the delegation would net working meetings in Port Elizabeth and Cape Town. The delegation would also sign Memoranda of Understang with their South African counterparts.
The delegation, comprising LCCI Executive Committee Member Dr Shahid Raza, Kashif Zia, Naimatullah Mazhar, Naseer Ahmad, Malik Imran Faisal, Abdul Hafeez Khan, Khawaja Farooq Akhtar and Tahir Mahmood on its way back to Pakistan would have a meetings with Pakistan Business Council in Dubai and at Pakistan Embassy in Dubai. Meanwhile, the LCCI President Shahzad Ali Malik, Senior Vice President Sh Mohammad Arshad and Vice President Sohail Azhar hoped that the visit of the LCCI delegation would further cement country's trade ties with South Africa.
Control of Moen Jo Daro given to Sindh Govt Staff Reporter
TV PROGRAMMES
for Hepatitis Free Sindh programme Dr. Abdul Majeed Chutto in his detailed briefing informed that the Chief Minister Sindh Syed Qaim Ali Shah had taken step to launch the programme in the year 2008-09 at the cost of Rs.2.9 Billion.
He said that the goal under vision was to prevent the acute infections, addressing the chronic infections, raising the public awareness, changing the policy environment and health system strengthening. According to details of vaccination against Hepatitis B 1,135,000 individuals, 1,39,843 for high risk population, 775,000 for 1st dose for newborn, 18439 for person inmates and 15 lac for auto destructible syringes for public sector hospitals was done during the period 2008 to 2011. The Programme Manager further informed that four molecular biology laboratories have been established at Karachi, Hyderabad, Larkana and Mirpurkhas. Besides, 80,000 patient have been treated against Hepatitis C , 500 patients against Hepatitis - D and 1261 patients have been treated in Jails, he added. Dr. Chutto further informed that during flood disaster-2010, 23 camps were established in 13-affected districts of Sindh province and total 94,000 people were vaccinated in the camps, He also gave details of public awareness. The meeting was attended among others by Sindh Health Minister Dr. Sagheer Ahmed, Secretary Health Syed Hashim Raza Zaidi, Secretary to C.M Sindh Mr. Ahmed Bux Narejo and others.- NNI
KARACHI: The administrative control and responsibility to preserve and maintain the 5000 years old city, Moen Jo Daro is being given to Sindh Government, the Sindh Minister for Culture Ms. Sassui Palijo disclosed Thursday. The decision has been taken by the Federal Government in view of the devolution plan being implemented after the passage of 18th amendment. The Minister said that Culture Department, Government of Sindh had been requesting for transfer of all archeological sites of Sindh to Provincial Government as the Federal Government in past had
failed to preserve and maintain these sites. She said that administrative control of 128 sites has already been transferred to Sindh Government and now in view of the devolution plan, the ancient site of Moen Jo Daro is also being transferred to Sindh Government. The Moen Jo Daro was one of the greatest civilizations of ancient times, flourished on the banks of Indus. Ms. Palijo assured that Sindh government will take all possible measures for proper conservation and preservation of all ancient sites including Moen Jo Daro. She said that recently, a "Memorandum of understanding" has been signed between Culture
Department, Government of Sindh and UNESCO for preservation of archeological sites in Sindh. UNESCO has undertaken to provide funding, technical assistance, training facilities and also execute joint projects in this regard. The Minister Culture further said that Antiquities Act 1975, which is Federal Law is being amended in view of the requirements of present times. She said that a large number of ancient sites and historical monuments in Sindh have not been declared as "Cultural Heritage" under the relevant law. Therefore, survey of such sites has been started to give them legal cover of protected heritage, she said.
Friday, February 11, 2011
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to members of National Commission on the Status of Women who called on him.-APP
Telenor announces ‘Karo Mumkin’ projects ISLAMABAD: Telenor Pakistan has announced the next phase of its 'Karo Mumkin' initiative which is aimed at helping people realize possibilities. The two winning ideas that emerged from the recently concluded campaign will now be turned into projects and launched later this year. At a press conference held at Telenor Pakistan's head office on Thursday, the two winners shared details of their projects. Fariha Ambreen spoke about her project 'Recycle Paper to Provide Notebooks to Schools for Under Privileged Children' while Abdul Haq Mohiuddin gave details about his project 'Donate Rs100 from your Monthly Salary to Make Education Possible for Street Children'. The two will work with project consultants and auditors Earnest & Young. Talking about the Karo Mumkin projects, Usman Javaid, Director Marketing Telenor Pakistan said, "Telenor Pakistan is providing the funds, the means and the tools needed for the projects to reach completion with the confidence that they will benefit the people of Pakistan. It has been a fulfilling journey and I am sure the spirit will inspire others to launch similar initiatives."-NNI
Conf on corrosion management TFD Report KARACHI: Pakistan's 2nd International Corrosion and Prevention Management Conference (ICECM2011) will be held at local hotel in Karachi on Feb 14. According to a press release issued here on Thursday, Chief Organizer Khalid Iqbal said that this conference is being organized by National Forum for Environment and Health (NFEH) and Publicity Channel in collaboration with Ministry of Industries and Commerce, Government of Pakistan, and Institution of Engineers Pakistan. Keynote Speaker will be Admiral (R) Abid Mujtaba Marine Corrosion Pakistan and other speakers include Dr. Rana Gulzar Pipeline expert, Dr. Khursheed mehmood, NED University, Engr. Yousuf Memon Reliance Swift Veritas, Dr. Shahid Aslam Exponent, Engr. Ahmed Moin Uddin Berry Plastics, Capt. Sarfraz Inyatuallah Bureau Veritas, Engr. Osama Minhaj Hubco, A. Waheed Suddal Mass Hi Tech, Mohsin R Naqvi I.C.I Pakistan, and other experts would prsent their papers on broad coverage of material and techniques employed in corrosion prevention.
Free medical camp by ICMAP KARACHI: Karachi Branch Council (KBC) of the Institute of Cost and Management Accountants of Pakistan (ICMAP) have arranged a Free Medical Camp to provide free medical services on Feb 13, at ICMAP Head Office, Karachi from 10a.m. to 5 p.m.-PR
Speakers moot social-decline Qutubuddin KARACHI: Speakers at a literary sitting, organised by the 'Qalam Dost' at the residence of MQM MNA Khushbakht Shujaat warned of the worst days yet to come but were optimistic about the future if move in the right direction. The participants and speakers at the sitting included intellectuals, socialites, businessmen and politicians like MNA Haider Abbas Rizvi,, Prof.Pirzada Qasim, VC Karachi University; Nasreen Jalil, Obaidullah Beg, Ghazi Salahuddin, former VC Sindh university Mazharul Haq Siddiqi, Hakim Abdul Wahab, Prof. Sehar Ansari, Zafar Hilali, Ms Khurshid Haider, Dr.Fozia Naim, Maulana Asad Thanvi, Dr Khalida Ghaus, Aneeq Ahmed, Shujaat Ali Baig and others. The speakers highlighted causes behind the social and political unrest and attributed it to economic
conditions and social injustices prevailing in the country. They said the society was victim of contradictions and heading towards cannibalism when a man can kill you for a mobile telephone set of Rs.2,000 or he is himself ready to be killed in retaliation. In such conditions, the gap between haves and have-nots was widening, creating an imbalance in the society which was frustrating for the people. Fear, anxiety and uncertainty, they said, was increasing due to bad economic conditions , joblessness and unchecked influx of population in Karachi. Loose writ of the government, uncertainty, worsening law and order conditions had all added to the chaos and despondency. They, however, expressed their optimism that if the masses are properly directed and nation moves in the right direction, a bright future await s us.
RTC, a must in current scenario, says Sharmila Staff Reporter KARACHI: Roundtable Conference proposed by President of the country and co-chairman Pakistan Peoples' Party Asif Ali Zardari is need of the hour in view of world political scenario so that the political and economic challenges faced by the homeland could be resolved. This was stated by Secretary Information PPP Ladies Wing Sindh, Ms.Sharmila Faruqui in a statement issued here on Thursday. "Round table conference is need of hour keeping in view internal and external challenges being faced by
the country," she said adding the move would result in collectively resolving the issues. As a nation, we are facing several challenges and problems in the view of international geo-political scenario; she said adding that central leadership of the PPP had been taking right and timely steps to invite politicians to participate in roundtable conference in order to evolve a consensus on national issues. All leaders and workers of the PPP wholeheartedly endorse the holding of the roundtable conference for upholding of democracy, democratic institutions and rule of law," she said.
Etihad’s 50,000 loyalty program members ISLAMABAD: Etihad Airways, the national airline of the United Arab Emirates has signed up the 50,000th Pakistan-based member in its Etihad Guest loyalty program. The 50,000th member is Muhammad Naeem of Sialkot, who joined last month during his flight from Lahore to Istanbul on Etihad Airways. He has been awarded 50,000 Etihad Guest miles as a surprise gift, says a press release issued on Thursday. Amer Khan, Etihad Airways' Country Manager Pakistan said, "Since its launch four years ago, Etihad Guest has attracted one million members globally. Acquiring fifty thousand members from throughout Pakistan during this short time is a remarkable achievement". "We continue to raise the bar in terms of innovation, benefits and rewards for our guests, as well as increase flexibility and ease in earning and burning miles, which we believe are key factors in the strong growth of our membership base," he said. Last year, Etihad welcomed Bank Al-Falah, its first key partner in Pakistan, to its loyalty program, as well as signing up Development in Literacy (DIL) as the preferred local charity, enabling members to donate their Etihad Guest miles. Etihad Guest was launched in August 2006, and quickly established itself as one of the airline industry's fastest-growing and most innovative loyalty programs. Members have the opportunity to accumulate Etihad Guest Miles which can be redeemed against a wide selection of up to 2,900 flight and nonflight rewards from the airline's award-winning Reward Shop, which features products from more than 200 partners.- NNI
KARACHI: Rangers and fire fighting vehicles parked outside the head office of Sui Southern Gas after the report of fire on the top floor of the building.-Online
Briefing on Russian aid to Pakistan TFD Report KARACHI: In accordance with the ordinance of the Government of the Russian Federation regarding the participation of Russia in the international efforts on humanitarian assistance to the people of the Islamic Republic Pakistan affected by floods in August last year, a cargo plane of the Ministry of Emergencies of Russia delivered to Islamabad on Jan 15, first-necessity goods,
tents, tools and foodstuff. Humanitarian aid gross weighed about 108 tons. On Feb 5, another cargo plane of the Ministry of Emergencies of Russia delivered to Islamabad about 113 tons of humanitarian goods. Four cargo planes with humanitarian aid from Russia have been sent to Pakistan so far. Previously two "IL-76" cargo planes of the Ministry of Emergencies of Russia delivered humanitarian aid in
Islamabad in August last year. Russia could not remain insensitive to the hardship of the Pakistani people. The Russian side hopes that the humanitarian assistance is a timely and essential contribution to a friendly state in overcoming the grave consequences of the natural disaster, which affected lives of millions of Pakistani people, said Russian ConsulGeneral Andrey Demodov at a briefing here.
3
Friday, February 11, 2011 Top Economic Events
US yields, data boost dollar, debt woes hit euro Doubts over policy for euro-zone crisis dent sentiment NEW YORK: The dollar rose broadly on Thursday, boosted by data showing new US jobless claims hit a 2-1/2-year low, while the euro slumped on worries over Europe's lack of progress in tackling its debt crisis. The dollar rose for a seventh straight day against the yen. while the Swiss franc fell as safe-haven demand faded on reports that Egyptian President Hosni Mubarak looked likely to step down later Thursday and helped to push the greenback to a onemonth high. Traders said a recent spike in US yields may prompt further dollar gains in the days ahead. The euro hit a $1.3578 session low, with support seen at $1.3541, the 100-day moving average. It pared gains by midday in New York and was last down 0.7 per cent at $1.3628. One-month implied options volatility fell to a five-month low, howev-
er, suggesting the scope of subsequent moves may be limited for now. The dollar was up for a seventh straight session against the yen, nearing a onemonth high at 83.29 yen before easing to 83.10 yen, up 0.8 per cent. Traders expect higher US yields to pull capital out of Japan. "There are indications that the Japanese capital flow picture is changing in a direction consistent with yen weakening," said Jens Nordvig, global head of G10 FX strategy at Nomura Securities International. "We are looking for opportunities to go long dollar-yen." Sterling fell as low as $1.6011 overnight
after the Bank of England left interest rates at record lows despite chatter about a possible hike, though it recovered by midday in New York to trade up 0.1 per cent at
$1.6124. US claims for first-time jobless benefits fell more than expected in the latest week to a 2-1/2-year low, data showed. The euro, which hit a 12-week high above $1.38 earlier this month, struggled as investors drove Portuguese bond yields to their highest level since the currency
was introduced in 1999. Portugal is considered at risk of becoming the next euro-zone country to need a bailout, and investors are anxious about a lack of progress by policymakers in addressing a euro-zone debt crisis. European leaders will meet next month to discuss bolstering a 440-billion euro bailout fund. Traders said the European Central Bank (ECB) helped stem the rise in yields through direct bond purchases. Barclays Capital strategist Raghav Subbarao said renewed concerns about Europe's debt crisis could complicate future ECB efforts to lift interest rates. Bundesbank chief Axel Weber, a known policy hawk, will not succeed Jean-Claude Trichet as president of the European Central Bank, according to reports Wednesday, boosting doubts about a eurozone rate hike. -Reuters
Yuan ends higher Won, peso down on outflows on cbank guidance Asian currencies
before rate meetings
Won suffers from foreigners' biggest stock sales in 3-mths SINGAPORE: The South Korean won and Philippine peso fell against the dollar on Thursday as foreign investors dumped domestic equities in the countries and covered bets against the US currency before central bank policy meetings. Other Asian currencies also declined on profit-taking, after nearly a week of appreciating on relief that policymakers were taking action to keep price pressures at bay. The won and peso may have room to slide further if the Bank of Korea (BoK) and Bangko Sentral ng Pilipinas (BSP) do not raise interest rates and acknowledge the building inflationary factors in their economies, analysts and dealers said. The Philippines' central bank
will likely keep its overnight borrowing rate steady at a record low of 4.0 per cent, while the market view remains spilt over if the South Korean central bank will raise rates. The BSP was set to announce the result of its rate meeting at 0800 GMT and the BoK will release its decision on Friday. Dollar/won rose as foreign investors posted their biggest daily stock sales in three months and offshore investors covered dollar short positions. Local players added long dollar/won positions, although the pair found some resistance as exporters sold dollars for settlements. Still, the dollar/won was expected to rise more on expected demand linked to foreigners' stock sales and if the Bank of
Sterling rebounds on rate outlook LONDON: Sterling recovered on Thursday from a session low against the dollar hit after the Bank of England kept interest rates on hold, on strong expectations that high inflation will force a policy tightening by mid-year. Traders said speculators liquidated some long positions they had built in the last few weeks but sterling found solid support, with central banks and leveraged
accounts cited as buyers at lower levels. Sterling was at $1.6052, having fallen to a session low of $1.6011 soon after the BoE announcement. Chartists say there is support at $1.6014, which is the 50 per cent retracement of its move from a low of $1.5750 on Jan. 25 to its recent three-month high of $1.6279 on Feb. 3. The BoE had been widely expected to keep rates at 0.5 per cent, but markets had priced in a 20 per cent chance of a rate rise. Traders said the hawks who were expecting that had cut their posi-
tions, leading to a brief dip in sterling. "The money markets were pricing in a 20 per cent chance of a hike, but no one really expected the BoE to go," said Chris Turner, head of FX strategy at ING. "The inflation report from the BoE is due next Wednesday and we expect them to be pretty hawkish there. So sterling will be supported by expectations of
interest rate hikes. We see it at $1.70 by the end of the summer." Minutes of the BOE's recent policy meetings have recorded a more hawkish tone, with two members voting for a rate hike last month. The minutes showed Martin Weale had joined Andrew Sentance in voting for rates to be raised, giving sterling bulls a huge boost. The euro fell more than 0.6 per cent to 84.72 pence, with near term support seen near its 200-day moving average which comes in at 84.529 pence. Reuters
Korea keeps interest rates on hold. The one-year cross currency rate fell 15 basis points to 2.00 per cent reversing its earlier gains to its highest in more than two years lifted by rate rise views. Foreign investors dumped a net 1.1 trillion won ($988 million) worth of stocks, the largest daily sales since Nov. 11 last year. Dollar/peso rose as foreign funds' demand caused local players to cover short positions. Investors also added long dollar/peso positions on expectations that the BSP will keep rates on hold. Foreign investors have been net sellers until Wednesday so far this month in the country's stock market, which was down 2.7 per cent on the day. -Reuters
Swiss franc soft vs euro, $ ZURICH: The Swiss franc was soft against the dollar and euro on Thursday ahead of Swiss consumer price data as investors' grew more confident about the global economy and invested less in safe haven currencies such as the franc. Markets will watch Swiss consumer prices for signs that inflation pressures are picking up, which could lead the Swiss National Bank to move eventually towards higher interest rates. But the main driver for the franc was risk appetite at the moment, analysts and traders said. "We have seen less demand for safe haven currencies in recent days," Credit Suisse analyst Sven Schubert said. "The focus has been more on stronger economic data from core euro-zone countries and positive surprises in the United States." The franc was largely unchanged against the euro compared to the New York close, trading at 1.3141 per euro at 0725 GMT after having lost some 1.5 per cent over the last two days. The franc was 0.3 per cent weaker against the dollar at 0.9608 per dollar. "The euro-franc could be heading for 1.3250 near-term," said Informa Global Markets analyst Tony Nyman. -Reuters
Aussie down despite upbeat job data, NZ$ eases WELLINGTON/SYDNEY: The Australian dollar slipped to a one-week low on Thursday and further losses threatened as jobs data proved firm but not so strong as to add to the chance of a rate hike anytime soon. The Australian dollar shed half a cent to $1.0068 in the wake of the jobs report, and seemed destined to test support around $1.0055, if not at $1.0002. "The market is long and today showed signs of looking sated," said Robert Rennie, chief currency strategist at Westpac Institutional Bank. The currency jumped back above parity over a week ago but has been unable to extend the rally past $1.0200. "I question where the next piece of good news is going to take us. I would not be surprised to see a move to sub-parity in the next few days." The Aussie might find support from Reserve Bank of Australia (RBA) Governor Glenn Stevens who testifies to parliament on Friday and is likely to stay upbeat on the economic outlook. The domestic data also looked fine with employment rising 24,000 in January to beat forecasts of a
15,000 gain despite massive flooding in Queensland. The jobless rate also stayed at a twoyear low of 5.0 per cent, giving proof of the underlying strength in the economy. But the data were not so strong as to challenge expectations the Reserve Bank of Australia (RBA) will likely be on hold for a few months more. Interbank futures imply around a one-in-three chance of a hike in the 4.75 per cent cash rate by June and a single move is fully priced by October. The euro nudged higher against the Aussie to around A$1.3592, and held firm on the kiwi at around $1.7780. Across the Tasman sea, the New Zealand dollar nudged down to around $0.7710/20. "All up, we continue to look for short-term NZ dollar rallies to fade ahead of $0.7800/50. Initial support is eyed on dips towards $0.7680," said BNZ currency strategist Mike Jones. The kiwi edged higher against the Aussie to NZ$1.3070 after the Australian jobs data. Support for the pair is seen at NZ$1.3030 with resistance at NZ$1.3215 range. -Reuters
SHANGHAI: The yuan closed higher against the dollar on Thursday after the People's Bank of China set another record high daily fixing amid renewed pressure from US lawmakers for Beijing to unshackle its currency. The central bank appeared to send a strong signal to the market that the government was more willing to let the yuan appreciate by fixing its daily mid-point at a record high of 6.5849 to the dollar, up one pip from Wednesday's 6.5850. China's recovering economy is also giving the authorities more confidence to carry out more currency reform, traders said. "Although Thursday's fixing was only one pip higher than Wednesday's, it was nevertheless among a slew of record high fixings this year," said a trader at a US bank in Shanghai. A bipartisan group of US lawmakers planned to begin a new drive on Thursday for China currency legislation that was approved last year
by the House of Representative but failed in the Senate. Spot yuan closed at 6.5865 against the dollar, up from 6.5938 at Wednesday's close. It has now risen 3.64 per cent since its depegging from the dollar in June 2010. The currency is expected to rise steadily in the near term and is seen appreciating 5 to 6 per cent in 2011 based on China's economic strength and its increasing willingness to move to a more flexible exchange rate regime, traders said. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards were bid at 6.4340, up from 6.4250 at Wednesday's close. Their implied yuan appreciation in a year's time fell to 2.35 per cent from 2.49 per cent. Dollar/yuan offshore forwards have generally staged a lacklustre performance so far this year, partly because signs of a US economic recovery pushed hedge funds to reallocate their assets, traders said. -Reuters
Indian rupee ends down on weak shares MUMBAI: The Indian rupee weakened for the second straight day on Thursday, weighed by weak domestic shares and dollar demand from oil refiners on the back of an increase in global oil prices. A firm dollar overseas also hurt the Indian unit. The partially convertible rupee closed at 45.725/735 per dollar, 0.5 per cent weaker than Wednesday's close of 45.475/485. "The rupee was partly down because of the decline in the stock market and partly due to dollar movements. I think the rupee should improve with the stock market," said Ashutosh Khajuria, head of treasury at IDBI Bank in Mumbai. Traders said the rupee is likely to trade in a range of 45.65-45.85 on Friday, after opening around 45.70. "Earlier in the week, there were inward remittances
that kept the rupee strong. That supply seems to have died out for now," a dealer with another state-run bank said. One-month offshore nondeliverable forwards contracts were at 46.00, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCX-SX and the United Stock Exchange closed at 45.8325, 45.8375, and 45.8375, respectively. Total volume was $5.96 billion. Reuters
Time All Day 12:00 12:00 12:45 14:30 14:30 18:30 18:30 19:55 19:55
Source Events JPY Bank Holiday EUR German Final CPI m/m EUR German WPI m/m EUR French Prelim Non-Farm Payrolls q/q GBP PPI Input m/m GBP PPI Output m/m CAD Trade Balance USD Trade Balance USD Prelim UoM Consumer Sentiment USD Prelim UoM Inflation Expectations
Forecast
Previous
-0.5% 0.9% 0.2% 1.3% 0.4% -0.4B -40.4B 74.8
-0.5% 1.8% 0.1% 3.4% 0.5% -0.1B -38.3B 74.2 3.4%
Source
Events
JPY JPY AUD AUD AUD GBP GBP GBP GBP CAD
Core Machinery Orders m/m CGPI y/y MI Inflation Expectations Employment Change Unemployment Rate Manufacturing Production m/m Industrial Production m/m Asset Purchase Facility Official Bank Rate NHPI m/m
Actual
Forecast
Previous
1.7% 1.6% 4.3% 24.0K 5.0% -0.1% 0.5% 200B 0.50% 0.1%
5.1% 1.4%
Previous Day -3.0% 1.2% 4.6% 1.8K 5.0% 0.6% 0.6% 200B 0.50% 0.3%
18.4K 5.0% 0.5% 0.5% 200B 0.50% 0.6%
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 1.3591 1.3736 0.9661 0.9673 1.6041 1.6110 0.9966 0.9985 1.0029 1.0133 112.9800 113.2200 0.8479 0.8529 1.3132 1.3174 133.3400 133.3200 86.0700 86.1100 1354.9300 1364.6500
Bid 1.3589 0.9657 1.6036 0.9961 1.0025 112.9500 0.8476 1.3129 133.2800 86.0100 1354.3500
Low 1.3581 0.9577 1.6014 0.9934 1.0024 112.6300 0.8471 1.3088 132.5500 85.7000 1351.8300
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 10/02/2011 A USD GBP CAD EUR JPY O/N 0.23400 0.55688 0.95500 0.97125 SN 0.10688 1WK 0.25250 0.57750 1.00000 0.93500 0.11500 2WK 0.25750 0.58625 1.03417 0.91000 0.11813 1MO 0.26400 0.61688 1.08000 0.87875 0.12750 2MO 0.28800 0.68313 1.14750 0.92938 0.15438 3MO 0.31200 0.80500 1.21000 1.04813 0.18875 4MO 0.35200 0.88688 1.27250 1.11750 0.24188 5MO 0.41000 0.99125 1.33917 1.19938 0.30000 6MO 0.46470 1.10813 1.40333 1.29250 0.34625 7MO 0.51800 1.18850 1.49083 1.35125 0.39375 8MO 0.57025 1.27288 1.56667 1.40063 0.44313 9MO 0.62975 1.35600 1.63833 1.46500 0.48750 10MO 0.68425 1.43500 1.72667 1.52000 0.51438 11MO 0.73400 1.50313 1.81000 1.57375 0.54125 12MO 0.79700 1.57188 1.90000 1.63875 0.56750
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada March 1, 2011 Bank of England March 10, 2011 Bank of Japan February 15, 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 10,2011 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
85.25 137.24 116.86 85.64 88.84 86.01 13.23 1.03 14.78 66.84 15.67 22.73 10.95 12.94 304.08 28.03 65.75 23.41 23.21 0.08 2.77
85.05 136.92 116.58 85.44 88.63 85.81 13.20 1.03 14.74 66.68 15.64 22.68 10.92 12.91 303.37 27.96 65.60 23.35 23.16 0.08 2.77
84.87 136.61 116.30 85.21 88.40 85.58 13.17 1.03 14.71 66.51 15.60 22.62 10.89 12.88 302.57 27.89 65.43 23.29 23.09 0.08 2.76
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 10, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.75 12.90 13.00 13.10 13.43 13.50 13.55 13.65 13.75 14.05 14.15 14.18 14.22 14.23 14.24 14.25 14.26 14.27 14.60 14.80
13.20 12.95 13.05 13.05 13.42 13.47 13.53 13.63 13.75 14.10 14.20 14.25 14.25 14.30 14.30 14.25 14.15 14.26 14.55 14.70
13.00 12.95 12.95 13.10 13.42 13.50 13.58 13.64 13.79 14.08 14.24 14.25 14.27 14.29 14.31 14.25 14.17 14.25 14.60 14.70
12.80 12.90 13.00 13.05 13.39 13.50 13.55 13.66 13.75 14.00 14.22 14.25 14.26 14.28 14.30 14.30 14.20 14.26 14.65 14.90
13.00 13.00 13.00 13.10 13.25 13.45 13.50 13.60 13.70 14.05 14.22 14.22 14.23 14.30 14.35 14.23 14.20 14.25 14.55 14.75
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 13.00 12.90 12.90 13.10 13.40 13.50 13.55 13.65 13.75 14.00 14.22 14.20 14.23 14.27 14.33 14.26 14.21 14.26 14.70 14.85
12.96 12.93 12.98 13.08 13.39 13.49 13.54 13.64 13.75 14.05 14.21 14.23 14.24 14.28 14.31 14.26 14.20 14.26 14.61 14.78
Currencies Correlation EUR/GBP Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/JPY EUR/USD GBP/USD NZD/USD
week month months months year years
-0.73 0.00 0.29 0.65 0.18 -0.33
-0.30 0.53 0.10 0.43 0.60 0.68
0.88 0.86 0.38 0.75 0.78 0.66
0.99 0.84 0.58 0.92 0.68 0.55
0.81 0.34 0.08 0.53 -0.02 -0.05
USD/CAD USD/CHF
0.93 0.33 0.34 0.58 -0.02 -0.32
0.39 0.65 0.12 -0.39 -0.22 0.42
-0.94 -0.86 -0.40 -0.65 0.00 0.20
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)10/02/2011 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
ABLN 12.65
13.15
12.70
13.20
12.80
13.30
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ASPK 12.80
13.30
12.90
13.40
12.90
13.40
13.40
13.65
13.55
13.80
13.65
14.15
13.75
14.25
13.80
14.30
CIPK
12.80
13.30
12.80
13.30
12.85
13.35
13.35
13.60
13.55
13.80
13.65
14.15
13.80
14.30
14.10
14.60
DBPK 12.70
13.20
12.70
13.20
12.75
13.25
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.90
13.40
12.85
13.35
12.85
13.35
13.45
13.70
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.80
13.30
12.85
13.35
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
HBPK 12.85
13.35
12.85
13.35
12.90
13.40
13.45
13.70
13.55
13.80
13.65
14.15
13.75
14.25
13.85
14.35
HKBP 12.70
13.20
12.85
13.35
12.95
13.45
13.30
13.55
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
NIPK
12.65
13.15
12.85
13.35
13.10
13.60
13.35
13.60
13.45
13.70
13.55
14.05
13.65
14.15
13.75
14.25
HMBP 12.80
13.30
12.90
13.40
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 13.00
13.50
12.80
13.30
12.95
13.45
13.35
13.60
13.55
13.80
13.65
14.15
13.75
14.25
13.85
14.35
MCBK 12.80
13.30
12.80
13.30
12.80
13.30
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.75
13.25
12.75
13.25
12.80
13.30
13.40
13.65
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.65
13.15
12.70
13.20
12.70
13.20
13.30
13.55
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 12.75
13.25
12.85
13.35
12.90
13.40
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
AVE
13.27
12.82
13.32
12.86
13.36
13.38
13.63
13.52
13.77
13.63
14.13
13.75
14.25
13.84
14.34
JSBL
12.77
ASK
4 Friday, February 11, 2011
Victimisation of Women
The Financial Daily International Vol 4, Issue 179
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Give Zardari strength to take US pressure Raymond Davis issue seems to be the biggest spoiler of Pakistan-US relationship for the time being. Not only cracks have started developing between the friendship bonds but visit of President Asif Zardari to US also seems in doldrums. Some of the opponents and critics of US influence on Pakistan's internal politics have already started demanding deferment of President's US trips on the grounds that he may face some adversities, probability also can't be ruled out. However, some of the quarters believe that the President and as well The Government of Pakistan must face the situation courageously. President can face the US pressure effectively only if he goes there with a clear agenda backed by all the political parties. President has already expressed the desire to call All Parties Conference (APC) and also started renewing his contacts with the leading politicians. Though, there may be pressure on him to call off the visit, it will be 'ostrich like' approach. Pakistan may face many challenges but can withstand all sorts of aggressions only if the nation stands united. Till today many of the political leaders have been saying that the successive governments had proved too feeble before the US pressure, be it defending Afghanistan against the USSR assault or joining the US war on terror, mainly initiated to hunt Osama. Almost all the political parties who hold expresident, Pervez Musharraf responsible for plunging Pakistan into 'the US war on terror' now have the responsibility to form a censuses strategy to face the US pressure, be it release of Raymond or stopping of drone attacks in Pakistani areas having common border with Afghanistan. The GoP has repeatedly told the US government if it has any information about presence of 'outlaws' in any of the Pakistani area, it must be shared and taking the action against those is Pakistan's prerogative. Pakistan is not alone in raising the issue of the 'excesses' forces, paramilitary personnel and even notorious agencies like Blackwater. Similar issues have been raised in Iraq and Afghanistan and some of the accused were found guilty and punished. There is an old saying about the Americans 'you may have all the arguments but I have the last argument 'danda' (might). Historically, the US administration has been following 'carrot and stick policy' to get control over the countries. However, most of the time rulers and selected elites get the carrot and public at large is driven by the stick and Pakistan has not been an exception. Similarly, the US administration has been involved in overthrowing various regimes and some of the victims have been Raza Shah Pelhavi of Iran, Marcos of Philippines and Saddam Hussain of Iraq. Hosni Mubarak is also become a history shortly. From Pakistan, two of the autocratic rulers, Ziaul Haq and Pervez Musharraf have met the same fate. Every political leader of Pakistan must remember, united we stand to survive and divided we can face what Sudan is going through. The choice is ours.
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
Javaria Tareen
N
o society is complete without woman whether she is mother, daughter, sister, wife or any other relative to a man. Islam has given women a special respect but unfortunately, in tribal and rural societies, they are being victimized in the name of customs and traditions. It is reality that women are being subjugated of violence in many parts of the country like it was done in the era of ignorance. Karo-kari, Wanni and Watta Satta are tyranny and inhuman customs. Women are being subjugated of rape, gang rape, domestic violence, forced labor and other atrocities in such societies. These cruelties on women are not only violation of Islamic teachings and principles of justice but have also become a major hurdle in economic growth of the country. It is noted that women are not only facing torture in rural areas but also in urban populated areas. No rule of law in the society had created a lot of problems for women. When I studied reports on violence on women compiled by human rights organisations and registration of cases with police against such violence, I wondered how women were being treated in a merciless way. I called on Inspector General Police Balochistan Malik Iqbal, representatives of non-governmental organizations working on women rights and other stakeholders who provided me data on violence on women during 2010. I was informed that 144 incidents of torture on women were reported in Balochistan in 2010, and 22 of Karo-Kari, 32 of rape, 2 of acid throw-
ing and 87 of domestic violence and harassment. About 46 incidents of violence on women were reported in Quetta, the metropolis of Balochistan, 38 in Jaffarabad and 21 in Nasirabad. Senior police officials told me that less number of incidents of violence on women was registered with police in 2010 than 2009 as 100-year old Levies Force system was restored by the provincial government in 2010. They indicated some flaws in Levies Force system as it lacks of proper arrangement to keep figures and record on violence on women. They further told that 149 incidents of torture on women were reported in 2009, and 22 of Karo-Kari while 50 women were murdered in the name of Karo-Kari during that year. During my research, I found out that most of incidents of violence on women took place in Eastern Balochistan's districts of Jaffarabad and Nasirabad. Aurat Foundation's officials told me that a total of 79 incidents of violence on women were reported in Balochistan in 2010 in comparison with 237 such incidents in 2009. They viewed that raging and worst ever floods that wreaked havoc in Nasirabad and Jaffarabad districts displaced hundreds of thousands of families in 2010 and as a result, less number of incidents of violence on women were reported. During 2010, about eight women were murdered in the name of honor in Nasirabad and Jaffarabad districts, six in Bolan and four in Jhal Magsi districts while total 36 women were killed in violence. The killers of these ill-
fated women included father, brother, husband and close relatives. Sixteen women were killed in other incidents including four in Quetta city. Two incidents of domestic violence on women were reported in Bolan, and one each in Quetta and Jaffarabad. Seven desperate women committed suicide in 2010 including two in Quetta and Nasirabad districts respectively, and one each in Jhal Magsi, Zhob and Nushki districts. Incident of kidnapping a woman was reported in Sibi district in 2010 and six incidents of rape and gang rape were reported including three from Jaffarabad district and one each from Quetta, Zhob and Khuzdar districts. One woman was set on fire in Jhal Magsi district and two were murdered in Nasirabad district. It was first time in 2010 that acid was hurled on women in Balochistan. Two women in Kalat district and two in Chagai district became victims of acid throwing. Unknown heartless men threw acid on two orphan and real sisters in Killi Hashim of Tehsil Dalbandin in Chagai district in April 2010 when they came out of their home to purchase some domestic items from nearby shop. After three weeks, another acid throwing incident occurred in Kalat district, in which unidentified men riding on bike hurled acid on three girls identified as Saima,8, Shakila,14 and Fatima,20. All these victim girls received burn injuries in their face and body. It is pertinent to mention here that a banned organization claimed for responsibility of throwing acid on these girls, warning other women that they would have to face such ruthless attacks if they come out of their homes without their
any relative. Although, the government took notice of the cruelty but no accused of the heinous crime was arrested so far while the incident created a panic amongst women. A six-year-old little girl was victimized of gang rape in Quetta on June 30, 2010. During my meeting with IGP Balochistan Malik Iqbal to get details on violence on women, he was of the opinion that due to low literacy rate and lack of awareness, incidents of violence on women took place in Balochistan. He further said tribal tradition of keeping women indoors was also an obstacle in access of women to courts and resultantly, they were forced to suffer atrocities on them. He said Britain rulers in the region used police for their power that caused a 'distance' between police and masses. Replying to my query, he said there was no women police station in Balochistan while the provincial police also lacked women personnel. He, however, said a women police station and special cell for women will be established in Quetta city. He recalled that every district of Punjab province had lady police personnel adding that women were also being encouraged in Balochistan to join police department. The Balochistan Police chief emphasized the need that victim women should be provided legal aid by both government and NGOs. Jurisdiction in limited area of the province as other regions had gone under control of Levies Force from April 2010. He observed that Levies Force usually deal with violence on women following the tribal customs and traditions.
US must Referendum in Sudan; act wisely why not in Kashmir Being the sole superpower, US has a history to dictate its right or wrong terms to other countries. Actions are taken in share arrogance and later on its top brass regrets on their wrong doing. Fresh example is the former US defence secretary Rumsfeld who expressed regrets on the inhuman handling/ treatment by the Americans with the prisoner of Guantanamo or Abu Ghuraib. Similarly, defence secretary McNamara describe the Vietnam was as "terribly wrong". Handling Iraq, Afghanistan, nuclear deal with non signatory India, and closing eyes on Palestinian and Kashmir problems are a matter of concern for the world. Another incident of arrogance is being seen by the so called democratic champion America which is pressurizing Pakistan to release a murderer whose case is in the court. I am not going to compare this case with anyone but USA has to respect the law/courts of other countries if it wants the respect of its courts. History tells us that the problems are never solved with force but unfortunately, it is true "What we learn from history that we never learn from history." Shahid Zahur, Rawalpindi
As per the results of a referendum held in Jan 9 to 15 more than 98% of southern Sudanese (mostly Christian) opted for independence. In July 2011, it will be a separate nation, ending more than two decades of north/south civil war. If we recall East Timor again a Christian document area got independence in 2002 from Indonesia. Unfortunately Kashmiris are striving for their right of self-determination which was guaranteed to them by the UN Resolution in 1948. USA was the major player in the commission which drew up the resolution. Innocent Kashmiris are suffering since last 63 years but due to vested economic interests the world is not putting pressure on India to hold a referendum. These double standards create despondency, deprivation and anger among the youth. There is a need that the world in general and US in particular which is on driving seat must fulfill their obligations and solved this oldest dispute. The peace and stability in this region can only come once and for all such disputes are solved on priority. Shahid Zahur, Rawalpindi
A Question to CJ of US Supreme Court Honourable Chief Justice of the Supreme Court of USA, I am sure there in the United States of America you are not used to exercising your suo moto powers because you are satisfied with the rule of law and the institutions of state responsible for implementing the law. But can't you just privately object to what the Obama administration is unlawfully forcing Pakistan to release and hand over an American who killed two Pakistanis in the broad-day light, not on the American soil but on the soil of another sovereign state, Pakistan? Your lordship must have remembered that you and your fellow judges, jurists and lawyers across America appreciated the role of Pakistan Chief Justice, Justice Iftikhar Chaudhry, and garlanded with medals of Honor when he was invited to America. The words of felicitation included "that Justice Chaudhry withstood all kind of pressure and didn't budge." Your honor, don't you think Pakistan's withstanding your government's pressure is wise and in accordance with the international law of sovereign rule? What would have been yours and your government's reaction if the similar kind of crime was committed by a Pakistani national on the American soil? Oh, sorry bothering you, we have already seen the sanctity of the rule of law, justice and wisdom in case of Dr Aafia Siddiqi. Dr Sher Khan, Peshawar
JUST KIDDING Do you know Rehaman Malik? Bala the best friend of mine asked me. I looked towards him astonishingly and shoot up but why? I know only that he was an efficient Minster of present government and resigned the other day and that's all. OK, do you know some one who can arrange my meeting with Rehman Malik, Bala again asked me. It was an irritating question for me and I taunted him have you gone mad because your son is leaving you for good due to some indifference on his marriage issue and you have failed to resolve your differences. The innocent Bala from Gujjar community with filthy rich social background in his native village told me discretely in low tone that in Pakistan Rehman Malik can negotiate any one and get his terms accepted. He can bring my son back on my terms and he can also resolve decade's long disputes between people. I started watching him with my eyes much wider than normal because he was serious. I recalled my memory. Bala was all together right as at many occasions this gentleman negotiated with the leaders of an urban party considered skilled in negotiations, hardliner molvies who do not accept others point of view and tough Pakhtuns considered rigid in thoughts and remained successful. Whenever, there was a crisis the man was leading with his fire extinguisher skills settling the crisis. Today he negotiated with annoyed PIA employee and remains successful. Now people says he is shortly going to USA to settle the differences arriving on Raymond Davis issue because things can not be handled by anyone else in more efficient manner than him. I am jealous with his skills and feel that after some time he will be called by whole Pakistani people to settle their day to day conflicts on domestic end such as marriage separation issues, land dispute between people and you may see people asking Rehman Malik on roads side right after traffic accidents to come and settle. Hats off to Rehman Baba! Fahim Akhtar, Karachi
How to alleviate poverty I firmly believe that only the people living in the country can make it better. We all should contribute whatever we can, big or small. Last year, my book, "Ghurbat kaise mit sakti hai," was published. Now Classic Publishers is bringing out its second edition. It offers a very practical plan for the permanent eradication of poverty. It is the best possible manifesto for a party that wants to come into power -- or remain in power for a long time. I may not live long enough to see my plan's implementation but I have the satisfaction of making my best possible contribution in return for what the society has been giving me all my life. Wajahat, Lahore
Blast in Mardan The recent wave of bomb blasts and ultimate confession by some outfits are deplorable and pathetic. Those who accept responsibility of such attacks are at ultra vires with basic teachings of Islam. These lamentable actions are outcome of feeble minds who have no respect for life and religion. Suicide blast in Mardan on Feb 10 took more than 28 innocent lives of security personnel and injured many. These bomb blasts have injected more terror and fear in public as well as security forces. We don't know why our brothers are being butchered so ruthlessly for untold crimes. Our country has become a fire ball from east to west and north to south with no place to hide in. We have our enemies within us garbed as friends. To curb this nuisance, we all have to stand up and defend ourselves and our Homeland, before its too late. Education at the grass-roots level will only serve the propose. We all are Muslims and our Religion teaches us lesson of Peace and tranquility within and without. Being true Muslims, the clerics should come forward, and lead the battle against terrorism by diffusing wrong beliefs and notions. Loss of human life has not only tarnished the image of our country in world but also caused havoc to foreign investment in Pakistan. Being subject to social and economic turmoil because of terrorist attacks, the security conditions have further impoverished. Meaningful efforts should be made by the government to overcome this menace. Iftikhar Shaheen Mirza, Islamabad
5
Friday, February 11, 2011
South East Asian stocks
European shares fall for 3rd day; C. Suisse down KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,299.28 12,187.47 111.81 0.91 89.82
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,723.52 3,654.11 69.41 1.86 2.28
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,025.10 2,992.26 32.84 1.09 0.02
Major Gainers
Symbol
Close
Change
RMPL 2,890.30 UPFL 1,276.51 WYETH 1,065.00 IDYM 292.14 ILTM 121.54
99.47 60.78 35.00 8.14 5.78
Philippines falls as rate maintained; others drop
Davis Dustup Damaging KSE Nawaz Ali KARACHI: Bearish activities continued at the Karachi Stock Exchange (KSE) for the third day as it lost more than 100 points on Thursday due to investor concerns over Pak-US relations on Raymond Davis issue and on fears of foreign selling. The benchmark KSE 100index dropped 111 points 0.91 per cent-- to close at 12,187 points while KSE 30index fell by 148 points -1.24 per cent-- to close at 11,781 points and KSE All Share Index lost 72 points -0.85 per
cent-- to close at 8,459 points. "Investors preferred to remain on the sidelines owing to growing diplomatic tension between US and Pakistan's government over the release of Raymond Davis", said Murtaza Jafar, equity dealer at JS Global Capital. Investors are taking a cautious view ahead of resolution of the diplomatic row which has resulted in a sharp dip in trading volumes at the local bourse, he added. Trading activities took a positive start with a gain of
16 points, thereafter some mixed activities were seen till around the midday with index moving on both sides where it touched a day-high at 12,323 points level (+24 points). However continued selling pressure on Davis issue and below expectation MCB Bank result kept the market in the bearish zone till the closing bells during which it touched a day-low at 12,177 points level (-ve 121 points). MCB Bank announced a profit after tax of Rs16.87 billion translating into an earning per share of Rs22.2
Close
Change
ULEVER 4,340.53 SIEM 1,069.89 FZTM 400.91 COLG 900.00 LAKST 250.51
-31.47 -30.11 -21.1 -15 -10.5
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA SSGC NCL AMMF PIF
16.18 26.47 25.28 11.10 7.69
7.77 5.97 5.85 4.10 3.62
Active Issues Plus Minus Unchanged
142 237 17
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)
33,929 32,092 7,087 6,813
INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753
HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075
DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%
OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)
PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)
932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1
Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046
net-buying of $0.47 million on Thursday. About 89.8 million shares traded during the day which is 17.6 million shares more as compared to a turnover of 72.2 million shares a day earlier. Lotte Pakistan stood as the volume leader with 7.77 million shares followed by Sui Southern Gas with 5.97 million and Nishat Chunian with 5.85 million. Out of total 396 active issues 237 went down, 142 moved up, while 17 issues stayed where they started from.
MCB CY10 PAT hits Rs16.87bn
Major Losers
Symbol
for CY10 along with a dividend of Rs3 per share and 10 per cent bonus shares. Further, according to the experts, the delay in the launch of Margin Trading System (MTS) and fears of foreign selling following a decline in regional markets weighed on the market too. It should be noted that foreign interest has slowed down since last few days as they moved to developed markets from emerging ones following a crisis in the Middle East countries. According to NCCPL data, offshore investors did a
KARACHI: A group photo of the delegation of Pakistan Pharmaceutical Manufacturers Association (PPMA) headed by M Haroon Qasim, Chairman-PPMA along with other members of the Association, who visited the Karachi Stock Exchange here on Thursday.-Staff Photo
PPMA delegation visits Khi bourse Staff Reporter KARACHI: A delegation of Pakistan Pharmaceutical Manufacturers' Association (PPMA) led by M Haroon Qasim, Chairman-PPMA along with former chairmen Dr Sheikh Kaiser Waheed, Zahid Saeed , and other members of the Association visited the Karachi Stock Exchange (KSE) on Thursday. The delegation held a meeting with Haroon Askari, Acting Managing Director KSE and staff of "Company Affairs Department "of the Exchange.
The representatives of the Consultants & Lead Manager / Advisors to the public issue were also present on the occasion, including AKD Securities Limited, Arif Habib Limited, Cassim Investments (Private) Limited, Habib Bank Limited, JS Global Capital Limited, NIB Bank Limited, Pak Brunei Investment Company Limited, and United Bank Limited. Welcoming the delegation, Haroon Askari, briefed about the benefits and advantages of listing . He appreciated the role of local pharmaceutical See # 16 Page 11
Profit-taking hurts Nikkei; China eyed TOKYO: Japan's Nikkei average edged lower on Thursday as investors kept taking profits on a recent rise in share prices and amid wariness about overheating in the market. Nikkei 225 February options contracts settled at 10,561.41, according to the Osaka Securities Exchange, and traders said that level could provide immediate support. Analysts said investors stayed on the sidelines on
Thursday ahead of a three-day weekend, while weaker-thanexpected machinery orders dented the mood. Japanese markets are closed on Friday for a national holiday. Japan's core machinery orders rose for the first time in four months in December and firms forecast an increase in orders for the first quarter, boding well for capital spending as the economy emerges from a See # 17 Page 11
US stocks late-morning
Wall Street falls down on results, but off lows NEW YORK: Wall Street was weighed down by disappointing earnings from Cisco Systems, but stocks bounced off their lows on Thursday as investors saw weakness in the market as a buying opportunity. Stocks opened lower as Cisco Systems Inc shares fell 12.7 per cent to $19.25 a day after the network equipment maker warned about dwindling public spending and reported weaker quarterly margins. "The pattern that we have been seeing recently is that we don't see selloffs that last very long. They are being bought. Investors are buying on the dips," said Howard Ward, chief investment officer of Gamco Growth Fund in New York. Further supporting the market, new US claims for unemployment benefits dropped to their lowest in 2-1/2 years, the government said, in a sign the labor market was improving. The Dow Jones industrial average was down 37.92 points, or 0.31 per cent, at 12,201.97. The Standard & Poor's 500 Index fell 3.59 points, or See # 18 Page 11
HK's 2011 gains gone; Shanghai shows shine HONG KONG/SHANGHAI: A slump in the shares of Hong Kong's stock exchange operator led losses in the financial sector, pulling the benchmark Hang Seng down 2 per cent and wiping out its gains for the year. The Hang Seng Index closed at its lowest level in over six weeks while overall turnover rose to its highest level since November last year, adding fuel to the bearish trend that has gripped the local market. "Short-sellers are getting quite aggressive in the market and are targeting the high-beta plays," said Tom Kaan, a director at Louis Capital Markets in Hong Kong, referring to stocks that are more volatile than the broader market. "Nothing has changed fundamentally, but there were too many positive pundits when we
came back after the Chinese New Year holiday." Hong Kong's market has remained on the back foot throughout the week, reversing early gains and closing lower each day even as turnover has steadily picked up -- a sign that investors are more willing to sell into any strength rather than buy on dips. Short-selling as a percentage of total turnover at midday hit its highest since November last year, according to data from the exchange. Firmly in the cross-hairs of those making bearish bets were shares of Hong Kong Exchanges & Clearing which slumped 4.9 per cent on nearly 7 times their average 30-day trading volume. Some market players attributed the fall to intensifying competition for new listings among the world exchanges
which are in the midst of a flurry of consolidation activity. Shares of Hong Kong's stock exchange, the hottest destination for initial public offerings in 2010, have surged nearly 65 per cent taking their valuations to amongst the highest among exchange operators, suggesting a pullback was likely. SHANGHAI RECOVERS China's main stock index ended up 1.6 per cent on Thursday, led by a rebound in property and bank shares, which fell the previous day following an interest rate rise by the central bank. SAIC Motor Corp , the country's top automaker, jumped its 10 per cent daily limit in the final minutes of trade after solid sales data from other Chinese carmakers lifted expectations its sakes would also follow suit.-Reuters
DECEMBER: MCB Bank Thursday posted a profit after tax of Rs16.87 billion in CY10 as compared to Rs15.49 billion last year showing a growth of 8.9 per cent YoY. This translates into EPS of Rs20.20 versus Rs20.38 previously. Further, the bank also announced 4th interim cash dividend of Rs3 per share in addition to --already paid-cash dividend of Rs8.50 per share --totaling Rs11.5 per share-- for CY10 along with 10 per cent bonus shares.
According to a press release issued here, the Board of Directors of MCB met here under the chairmanship of Mian Mohammad Mansha and reviewed the performance of the Bank for the year 2010. The financial results for the year ended December 31, 2010 were presented before the Board of Directors of MCB Bank Ltd. The report said that net interest income of the Bank increased by Rs1.1 billion over 2009 whereas non-fund based See # 14 Page 11
Sensex slips for third day MUMBAI: Indian shares fell for the third day in a row on Thursday to their lowest close in seven months, as weak world stocks added to the investor gloom over worries about the outlook for domestic earnings. Shares in billionaire Anil Ambani Group companies recouped some losses, after they had tumbled in a late selloff the previous day for no apparent company specific news.
Telecom operators Bharti Airtel and Idea Cellular shed 2.8 per cent and 2.2 per cent respectively after the country's telecoms regulator proposed steep increases in the price of second-generation mobile radio waves. The 30-share BSE index dropped 0.74 per cent or 129.73 points to 17,463.04, its lowest close since early July. Sixteen of its components closed in the red. See # 15 Page 11
ANNOUNCEMENTS Company MCB Bank Limited Cherat Papersack Netsol Technologies
Period Div/Bon/Right Yearly 30%(D)10%(B) Half Yearly 50%(R) Half Yearly -
PAT (Rs in mn) 16873.18 125.10 417.57
EPS(Rs) 22.20 10.90 5.01
UK’s FTSE down as earnings disappoints LONDON: Disappointing corporate results crimped confidence on the outlook for risksensitive banks and miners, pushing Britain's top share index lower by the close on Thursday. Diageo shed 4.6 per cent as half-year results from the world's biggest spirits group missed forecasts, prompting broker Espirito Santo to downgrade its rating to "hold". International Consolidated Airline Group was also sharply lower, off 3.3 per cent as peer Air France-KLM slid after warning it would miss a key profit target after being hit by a triple whammy of snow, strikes and security problems. The FTSE 100 ended down 32.28 points, or 0.5 per cent, at 6020.01, extending Wednesday's retreat after hitting its best closing level since May 2008 on Tuesday. The index is still up 2 per cent in 2011 after a 9 per cent rise last year, and many analysts remain fairly upbeat about prospects for equities. "There's a bit of nervousness See # 19 Page 11
KSE 30-Index recomposed Ahmed Siddique KARACHI: Karachi Stock Exchange (KSE) has recomposed KSE 30-Index by replacing two companies with new ones, according to a notice issued by the Exchange.
NRL & NCL included The notice said that the recomposition exercise is based on the selection criteria of KSE 30-Index. The recomposed index based on the prices of December 31, 2010 will be implemented with effect from February 15, 2011. According to the list of incoming companies, National Refinery Limited and Nishat (Chunian) Limited has been selected. While, outgoing companies include Indus Motor Company Limited and Shell Pakistan Limited.
Dhiyan
A DULL DAY OF ALL TRENDS Muzzammil Aslam, Head of Research JS Global Capital In the absence of triggers market is expected to remain in the range moving forward, most probably trading around 12,000 levels. As far as Margin Trading System (MTS) is concerned, if its modalities are favorable to market participants then it would have a positive impact on the market. Investors are advised to wait and stay on the sidelines till the regional stock markets settle down. Market would be mixed today.
Farhan Mansuri, VP Capital Markets Arif Habib Limited Trade would be on a short leash in the coming days. Index would most likely shuttle between 300-400 points as there is no major positive news down the line. Even so, we might see a rally at 12,000-12,100 level. Investors are recommended to adopt 'buy on dips' strategy and invest in those stocks of oil, banking, and fertiliser sectors offering good payouts. Launch of Margin Trading System (MTS) would be the only factor that can support the market. Trade would be dull today.
6
Friday, February 11, 2011
Market Volume
89,822,751
Value
2,861,044,188
Trades
49,148
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
142 237 17 396
All Share Index
12,187.47 12,324.44 12,176.89 i111.81
Current High Low Change
KSE 30 Index
8,459.44 8,550.12 8,452.92 i72.64
Current High Low Change
KMI 30 Index Current High Low Change
11,781.93 11,957.34 11,760.98 i148.46
19,686.51 19,944.64 19,670.18 i212.07
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,567.81 Turnover 3,101,237 P/E (x) 11.29 Company
KSE 100 Index
Symbols
High Low 1,573.86 1,539.91 Total cos Defaulter cos P/BV (x) ROE (%) 3.68 32.54
PE
Open
High
Low
Attock Petroleum 691 6.87 Attock Refinery 853 4.85 BYCO Petroleum 3921 Mari Gas Company 735 16.93 National Refinery 800 5.65 Oil & Gas Development 43009 11.49 Pak Petroleum 11950 7.68 Pak Oilfields 2365 7.39 Pak Refinery Limited 350 P.S.O 1715 4.74 Shell Gas LPG 226 Shell Pakistan 685 11.01
386.67 121.11 9.84 125.17 276.93 171.13 213.25 325.23 107.44 289.44 31.95 214.58
387.37 122.10 9.92 126.25 277.00 171.85 214.00 325.99 110.50 290.42 32.79 216.90
378.00 118.55 9.80 124.15 271.95 168.61 209.75 319.70 105.00 278.50 30.51 213.00
Close Chg 380.29 119.12 9.82 124.95 272.54 169.78 210.04 320.57 105.29 280.26 31.50 214.68
-6.38 -1.99 -0.02 -0.22 -4.39 -1.35 -3.21 -4.66 -2.15 -9.18 -0.45 0.10
Close Change 1,547.38 -20.43 Listed cap Market cap 65,194.15 mn 1,195,479.87 mn Payout (%) Div Yield (%) 55.94 4.95 Last 60 days High Low
Volume 38147 591598 238780 16273 97876 316013 393453 837871 104181 682097 1899 21829
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 9.80 117.00 251.80 157.56 190.50 249.25 80.61 277.52 30.51 194.00
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
% Change -1.30 5-Day High 1,583.28 5-Day Low 1,547.38 2011 Div BR (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 - 50.00 -
-
CHEMICALS
Open 745.25 Turnover 17,464 P/E (x) 5.56 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
High Low 749.52 724.11 Total cos Defaulter cos P/BV (x) ROE (%) 1.42 25.53
Close 739.00 Listed cap 3,242.17 mn Payout (%) 11.08
Change -6.25 Market cap 12,739.22 mn Div Yield (%) 1.99
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.00 37.63
73.56 34.70
73.99 34.90
71.02 34.50
72.82 -0.74 34.62 -0.08
14545 2919
76.65 39.45
68.00 32.36
Company
Company
Paid up Cap(mn)
High Low 1,607.34 1,582.08 Total cos Defaulter cos P/BV (x) ROE (%) 3.39 35.00
PE
Open
High
Low
Agritech Limited 3924 8.51 BOC (Pak) 250 12.84 Clariant Pak 273 7.19 Dawood Hercules 1203 8.21 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.74 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.30 Fauji Fert.Bin Qasim 9341 7.78 Ghani Gases Ltd 725 8.64 ICI Pakistan 1388 8.35 Leiner Gelatine 75 Lotte Pakistan 15142 5.95 Mandviwala 74 Nimir Ind Chemical 1106 Sitara Peroxide 551 15.34 Wah-Noble 90 7.24
24.09 93.51 200.84 201.32 3.05 7.66 3.13 11.27 215.38 13.09 11.91 150.59 41.46 11.46 149.26 11.61 16.25 1.28 2.78 14.03 37.75
24.00 93.50 201.45 202.50 3.29 8.18 3.18 11.27 216.50 13.40 12.00 151.99 41.63 11.73 150.00 12.61 16.36 1.43 2.93 14.43 37.75
23.50 91.55 200.00 197.00 3.00 7.50 2.98 10.41 212.60 12.95 11.90 150.20 41.11 11.31 147.10 10.61 16.02 1.30 2.75 14.05 37.41
Close Chg 23.50 93.50 200.90 198.10 3.11 7.86 3.00 11.11 213.66 13.16 11.97 151.20 41.21 11.40 148.26 11.06 16.18 1.43 2.78 14.11 37.63
-0.59 -0.01 0.06 -3.22 0.06 0.20 -0.13 -0.16 -1.72 0.07 0.06 0.61 -0.25 -0.06 -1.00 -0.55 -0.07 0.15 0.00 0.08 -0.12
Close 1,591.78 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 4080 281 10564 43190 1760051 746690 2551777 3200 682279 937509 619384 1319954 2386396 2993 121556 271 7766066 413 2684559 261970 859
Change -3.42 Market cap 350,781.32 mn Div Yield (%) 5.04
26.73 103.94 213.30 215.00 3.74 9.25 4.24 11.98 222.80 15.87 12.64 157.90 43.99 13.07 158.49 20.95 16.80 2.45 3.17 14.69 41.99
20.91 76.00 151.55 165.73 2.37 6.61 1.52 9.15 177.80 12.51 9.16 108.80 32.50 11.00 132.00 9.99 11.56 1.01 1.40 12.70 32.00
2010 Div BR (%) (%) 15 135 40 15 40 130 52.5 55 5 50
25B 25B -
% Change -0.21 5-Day High 1,607.80 5-Day Low 1,591.78 2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,053.07 Turnover 21,260 P/E (x) 5.39 Company
High Low 1,060.45 1,041.79 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 7.47
Close 1,053.65 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.46 6.74
16.00 43.51 37.99
16.20 44.75 38.00
15.99 42.20 37.40
16.13 0.13 44.00 0.49 37.75 -0.24
15039 421 5800
Century Paper Pak Paper Product Security Paper
Change 0.58 Market cap 2,921.29 mn Div Yield (%) 4.69
Last 60 days High Low 19.69 48.90 47.70
14.95 39.00 37.30
2010 Div BR (%) (%) 2533.33B 50 -
% Change 0.06 5-Day High 1,058.58 5-Day Low 1,047.32 2011 Div BR (%) (%) -
-
Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Engineering Ltd Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
PE
Open
144 5.45 70.25 101 5.84 196.52 247 36.16 41.20 890 2.05 56 4.84 194.60 598 20.26 24.00 450 3.13 4.46 1428 - 11.00 786 6.62 290.61 823 10.14 64.40 150 4.34 23.25
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International IndSPOT
PE
Open
High
Low
565 3.04 675 555 8.87 1199 18.65
29.05 2.55 13.90 51.70
29.25 2.55 14.45 51.97
28.99 2.45 13.81 51.00
Close Chg 29.03 2.50 14.19 51.28
-0.02 -0.05 0.29 -0.42
Close 1,028.85 Listed cap 3,596.11 mn Payout (%) 30.91
High
High Low 1,277.00 1,262.04 Total cos Defaulter cos P/BV (x) ROE (%) 1.18 25.35 Low
Close Chg
Close 1,269.66 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -1.35 Market cap 47,014.26 mn Div Yield (%) 4.39
Last 60 days High Low
16995 27511 3900 53152
31.00 3.29 16.51 62.20
Open 1,831.84 Turnover 178,827 P/E (x) 47.61 Company
Paid up Cap(mn)
Abdullah Shah Ghazi Sugar 793 AL-Noor Sugar XD 186 Ansari Sugar 244 Bawany Sugar 87 Crescent Sugar 214 Dewan Sugar 365 Habib Sugar 750 Habib-ADM Ltd 200 Haseeb Waqas XD 324 J D W Sugar 539 Mirpurkhas Sugar 84 Mirza Sugar XD 141 National Foods 414 Nestle Pakistan 453 Noon Pakistan 48 Noon Sugar 165 Quice Food 107 Rafhan Maize 92 S S Oil 57 Shahtaj Sugar 120 Shakarganj Mills 695 Tandlianwala 1177 UniLever Pakistan 665
PE
Change -1.23 Market cap 9,890.90 mn Div Yield (%) 9.52
24.01 2.43 13.81 44.53
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Buxly Paints Dadabhoy Cement Dadex Eternit Dewan Cement DG Khan Cement Ltd Fauji Cement Flying Cement Ltd Frontier Ceramics Gammon Pak Gharibwal Cement Haydery Const 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 14 982 14.23 108 3891 3651 118.04 6933 6.33 1760 77 283 4003 32 1288 13126 3234 6.16 5261 1.25 541 3.07 2228 200 361 798 442.50
2.98 51.63 2.80 19.19 11.75 11.65 1.80 20.00 1.99 28.63 4.63 1.69 2.06 2.70 5.47 0.53 6.16 3.15 70.67 2.65 4.50 6.75 7.00 8.03 17.82
3.15 51.89 2.46 19.40 12.70 11.00 1.88 19.50 2.07 28.89 4.68 1.76 2.00 3.65 6.29 0.67 6.20 3.25 70.95 2.70 4.21 6.84 7.00 8.00 17.74
2.92 51.50 2.46 18.50 11.03 10.65 1.70 19.00 1.97 28.21 4.55 1.62 1.90 1.70 4.70 0.50 6.03 3.12 68.01 2.61 4.15 6.40 6.51 8.00 17.01
Close 917.31 Listed cap 54,792.74 mn Payout (%) 19.04
2010 Div BR (%) (%) 30 55
% Change -0.12 5-Day High 1,034.93 5-Day Low 1,028.32 2011 Div BR (%) (%)
- 10.00 20B -
Change -13.76 Market cap 65,652.43 mn Div Yield (%) 2.96
Close Chg
Volume
Last 60 days High Low
3.00 51.50 2.46 19.00 12.67 11.00 1.85 19.00 1.99 28.33 4.56 1.71 2.00 1.70 6.29 0.67 6.06 3.12 68.60 2.68 4.18 6.50 7.00 8.00 17.70
11031 18222 3302 95892 310 373 1940 425 57673 625109 594711 37631 6175 306 501 5005 40667 339334 496596 54106 2400 15652 37200 1000 101
3.98 65.99 4.24 24.16 24.80 15.50 2.49 25.75 3.10 32.30 5.55 2.25 3.00 3.65 9.19 0.99 8.70 3.88 78.44 3.30 8.74 8.20 7.95 9.60 20.44
0.02 -0.13 -0.34 -0.19 0.92 -0.65 0.05 -1.00 0.00 -0.30 -0.07 0.02 -0.06 -1.00 0.82 0.14 -0.10 -0.03 -2.07 0.03 -0.32 -0.25 0.00 -0.03 -0.12
-
2.75 51.38 1.10 16.55 11.03 7.91 1.50 18.51 1.48 27.67 4.55 1.60 1.29 1.05 3.06 0.25 6.00 2.95 68.01 2.56 3.21 6.40 5.30 7.37 16.75
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
% Change -1.48 5-Day High 944.70 5-Day Low 917.31 2011 Div BR (%) (%) -
92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,011.19 Turnover 325,465 P/E (x) 2.77 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
PE
Open
115 2.92 66.92 230 2.65 1067 4.92 52.75 389 4.08 47 18.28 32.39 844 64.76 127.71 300 9.46 130.50
High
High Low 1,024.88 986.70 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 43.91 Low
Close Chg
66.75 63.58 63.58 2.69 2.50 2.60 55.25 52.51 53.58 4.02 3.90 3.92 33.80 32.10 32.91 128.99 124.00 126.28 131.44 129.00 129.67
-3.34 -0.05 0.83 -0.16 0.52 -1.43 -0.83
Close 999.03 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 78433 2214 28340 8950 82979 118737 5713
Change -12.16 Market cap 37,480.83 mn Div Yield (%) 5.61
Last 60 days High Low 83.23 3.30 56.45 4.14 33.80 143.00 144.50
52.50 1.82 45.30 2.40 17.10 103.52 103.00
2010 Div BR (%) (%) 20 25 -
25B 10B -
% Change -1.20 5-Day High 1,013.42 5-Day Low 999.03 2011 Div BR (%) (%) -
50R -
INDUSTRIAL ENGINEERING
Company
Paid up Cap(mn)
AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind KSB Pumps Millat Tractors XB Pak Engineering
PE
Open
215 5.57 237.00 104 - 46.32 214 1.23 213 10.28 11.08 132 7.41 61.92 366 8.32 545.01 57 378.14 143.19
High
High Low 1,591.99 1,562.65 Total cos Defaulter cos P/BV (x) ROE (%) 3.24 38.02 Low
Close Chg
237.99 232.70 232.75 -4.25 48.63 44.15 44.30 -2.02 1.25 1.10 1.20 -0.03 11.24 11.00 11.10 0.02 62.70 60.00 61.90 -0.02 548.40 540.00 540.60 -4.41 140.00 136.04 136.13 -7.06
Close 1,565.59 Listed cap 1,336.62 mn Payout (%) 131.49
Volume 1391 764 11000 20140 594 31995 106
66.01 155.25 15.00 1.20 150.00 21.00 4.40 10.60 248.00 63.30 18.80
90 100 60 20 150 10
20B 20B
-
-
High
Low
Close Chg
Close 1,826.38 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 1078 1060 500 2100 4500 2400 49796 500 1066 800 307 4834 602 1107 1067 410 12500 122 4500 14066 62120 8309 4688
Change -5.47 Market cap 277,906.79 mn Div Yield (%) 0.64
Last 60 days High Low 7.20 4.06 54.00 40.85 6.99 4.05 6.73 1.21 7.15 5.00 5.59 1.60 36.50 21.35 12.96 11.50 23.62 15.71 92.50 68.00 68.22 44.13 7.18 4.01 75.50 41.52 3570.00 1830.00 27.30 21.00 14.84 9.00 3.70 2.05 2925.00 1800.00 3.85 2.50 100.26 50.93 7.88 4.46 43.00 30.50 4818.00 3901.00
2010 Div BR (%) (%)
% Change -0.30 5-Day High 1,837.00 5-Day Low 1,819.97 2011 Div BR (%) (%)
50 25 25B 40 10 7010B 12.5R 15 20B 10 12 450 12 600 178 -
-
-
206.00 42.90 0.21 10.51 58.55 480.00 135.85
High Low 1,147.01 1,071.61 Total cos Defaulter cos P/BV (x) ROE (%) 0.33 10.64
Close 1,085.96 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Gauhar Engineering Ltd 22 Pak Elektron 1219 Tariq Glass Ind 231
3.48 2.40
0.60 13.84 21.09
0.60 14.59 21.70
0.60 13.75 20.04
0.60 0.00 13.80 -0.04 20.04 -1.05
10000 33430 42918
Company
Change -11.77 Market cap 5,179.35 mn Div Yield (%) 2.03
Last 60 days High Low
2010 Div BR (%) (%)
1.65 15.88 24.00
17.5
0.45 13.25 15.90
10B -
% Change -1.07 5-Day High 1,112.44 5-Day Low 1,085.96 2011 Div BR (%) (%) - 200R
PERSONAL GOODS Performance of SR Personal Goods Index Open 994.19 Turnover 10,057,800 P/E (x) 7.49 Company
Paid up Cap(mn)
(Colony) Thal AL-Qadir Textile Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen XD Blessed Tex Mills Chakwal Spinning Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute Crescent Textile D S Ind Ltd Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning Faisal Spinning Fazal Textile Gadoon Textile XD Ghani Value Glass Ghazi Fabrics Gillette Pakistan Gulistan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Indus Dyeing Jubilee Spinning Kohinoor Ind Kohinoor Textile Masood Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Ravi Textile Reliance Cotton Reliance Weaving Rupali Poly Saif Textile Sally Textile Samin Textile Sana Ind Sapphire Fibre Sargodha Spinning Saritow Spinning Service Ind Shadman Cot Shahtaj Textile Tata Textile Thal Limited Treet Corp Zil Limited
56 76 2594 840 4493 33 76 64 400 1150 316 2442 238 492 600 514 34 110 100 62 234 75 326 192 146 716 3105 180 181 325 303 1455 600 187 1614 3516 560 174 62 250 103 308 341 264 88 267 55 197 312 133 120 176 97 173 307 418 53
High Low 1,003.23 983.20 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 8.64
PE
Open
High
Low
Close Chg
8.66 6.11 0.46 0.49 0.87 0.59 28.63 3.77 3.35 43.02 0.12 0.66 0.86 3.20 0.84 6.16 0.90 1.15 0.72 4.12 3.80 2.84 3.57 1.88 0.84 2.10 5.58 4.38 0.88 0.47 0.72 0.67 5.09 0.48 0.21 5.21 3.26 0.96 0.71 0.29 7.57 2.94 0.39 5.05 9.03 4.45
1.35 8.38 3.91 22.75 11.00 11.49 13.50 59.12 1.45 2.97 915.00 2.42 1.01 17.83 1.71 36.20 4.46 20.91 34.70 422.01 75.76 22.30 5.49 58.19 6.10 3.85 52.90 3.50 284.00 2.65 1.54 5.18 17.10 16.25 25.53 65.76 13.18 12.40 31.25 1.24 43.00 9.52 42.04 6.00 4.00 5.76 43.01 108.21 3.88 2.35 220.10 15.15 20.00 41.50 120.25 57.31 70.00
1.40 9.00 3.94 22.05 11.20 11.65 14.00 60.90 1.44 2.99 934.95 2.85 1.18 17.48 1.79 36.70 4.50 21.85 35.10 420.00 77.40 23.40 5.50 61.09 6.34 3.96 53.00 3.50 297.99 2.45 1.57 5.22 17.85 16.45 25.84 66.25 13.65 12.05 29.69 1.37 43.00 9.60 42.29 6.00 4.60 6.70 45.15 102.87 3.80 2.00 224.99 16.15 20.05 42.00 121.00 57.93 69.95
1.35 7.80 3.79 22.00 10.82 11.00 14.00 58.01 1.35 2.84 900.00 2.35 0.80 16.86 1.56 35.00 3.60 21.50 34.70 400.91 75.53 23.40 5.50 55.29 5.51 3.70 51.00 3.45 270.00 2.31 1.32 5.00 17.10 16.10 24.60 64.70 12.75 12.00 29.69 1.21 41.00 9.60 40.30 5.90 4.25 6.00 41.40 102.80 3.65 1.40 220.00 16.00 20.00 39.99 118.00 56.70 66.50
1.35 0.00 7.80 -0.58 3.81 -0.10 22.00 -0.75 10.92 -0.08 11.41 -0.08 14.00 0.50 58.01 -1.11 1.35 -0.10 2.85 -0.12 900.00-15.00 2.41 -0.01 1.03 0.02 17.40 -0.43 1.65 -0.06 36.57 0.37 4.01 -0.45 21.85 0.94 35.01 0.31 400.91-21.10 76.50 0.74 23.40 1.10 5.50 0.01 55.51 -2.68 6.00 -0.10 3.81 -0.04 52.38 -0.52 3.50 0.00 292.14 8.14 2.45 -0.20 1.50 -0.04 5.00 -0.18 17.82 0.72 16.45 0.20 25.28 -0.25 65.05 -0.71 12.96 -0.22 12.05 -0.35 29.69 -1.56 1.28 0.04 41.02 -1.98 9.60 0.08 40.53 -1.51 5.97 -0.03 4.25 0.25 6.25 0.49 42.89 -0.12 102.87 -5.34 3.65 -0.23 1.75 -0.60 221.06 0.96 16.15 1.00 20.05 0.05 39.99 -1.51 118.09 -2.16 56.72 -0.59 66.50 -3.50
Close 988.94 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -5.25 Market cap 137,624.02 mn Div Yield (%) 2.23
Last 60 days High Low
1147 1.50 2501 9.00 138332 5.28 301 24.59 2204387 12.84 1512 15.25 10000 15.10 210 63.20 501 2.00 9623 3.76 102 1020.00 5637 2.97 127 1.38 1014 23.99 11502 2.10 67108 47.00 1108 8.90 471 21.85 993 36.75 363 454.50 4054 77.40 1022 41.20 5379 5.50 6483 66.48 40114 8.86 28222 4.47 17522 55.00 2500 3.90 306 350.15 4300 5.50 68332 2.00 2202 5.95 1004 20.74 1002 17.10 5854277 26.58 1422008 71.89 15034 14.45 820 12.40 500 34.40 56077 1.98 1120 43.30 1479 10.34 4010 42.70 4093 6.85 6005 4.83 1553 7.00 704 49.66 500 131.50 4002 4.45 4000 2.89 4344 276.50 2091 16.65 1120 20.29 149 42.00 3073 132.00 22794 63.30 8373 72.49
2010 Div BR (%) (%)
0.56 4.05 10 3.65 30 19.40 20 9.20 8.10 - 15B 12.40 20 46.00 50 0.81 5 2.80 837.00 2.11 0.32 16.86 15 1.55 35.00 5 2.90 18.51 35 31.25 50 371.02 100 47.00 70 22.30 25 2.80 10 55.29 5.26 10 3.31 10 36.26 20 2.70 10 188.01 50 2.25 0.75 4.81 17.10 15 100R 14.70 20SD 21.15 15 52.80 25 45R 6.21 8.00 10 10B 25.00 50 0.65 32.75 20 8.50 25SD 34.12 40 3.90 3.61 10 5.11 - 100R 31.56 60 102.80 15 1.51 5 1.00 180.11 7.00 16.35 45 29.76 25 95.10 80 20B 50.50 42.30 35 -
% Change -0.53 5-Day High 994.19 5-Day Low 988.94 2011 Div BR (%) (%) -
-
PHARMA AND BIO TECH
Change -16.41 Market cap 33,851.29 mn Div Yield (%) 15.44
Last 60 days High Low 244.95 48.63 2.40 13.50 71.50 568.40 301.84
Open
Open 1,097.73 Turnover 86,362 P/E (x) 3.08
Performance of SR Industrial Engineering Index Open 1,582.00 Turnover 65,995 P/E (x) 8.52
82.63 205.00 43.26 2.89 217.44 26.74 5.36 13.40 309.73 77.90 24.00
2011 Div BR (%) (%)
55.06
Total Assets (Rs in mn)
MA (10-day)
18.70
Total Equity (Rs in mn)
MA (100-day)
16.40
Revenue (Rs in mn)
124,181.73
MA (200-day)
15.78
Interest Expense
4,969.92
1st Support
18.75
Profit after Taxation
1,025.35
2nd Support
18.67
EPS 09 (Rs)
1.710
1st Resistance
18.98
Book value / share (Rs)
13.81
2nd Resistance
19.13
PE 10 E (x)
9.95
Pivot
18.90
PBV (x)
1.36
9,184.46 10,102.06
MEBL closed down -0.16 at 18.83. Volume was 21 per cent below average and Bollinger Bands were 45 per cent narrower than normal. The company's profit after taxation stood at Rs994.738 million which translates into an Earning Per Share of Rs1.42 for the nine months of current calendar year (9MCY10). MEBL is currently 19.3 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into MEBL (mildly bullish). Trend forecasting oscillators are currently bearish on MEBL.
Sitara Energy Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
49.30
Total Assets (Rs in mn)
3,547.15
MA (10-day)
17.44
Total Equity (Rs in mn)
1,183.42
MA (100-day)
19.36
Revenue (Rs in mn)
3,875.48
MA (200-day)
20.68
Interest Expense
303.74
1st Support
17.50
Profit after Taxation
107.20
2nd Support
17.00
EPS 10 (Rs)
5.615
1st Resistance
18.50
Book value / share (Rs)
61.99
2nd Resistance
19.00
PE 11 E (x)
3.36
Pivot
18.00
PBV (x)
0.29
SEL closed up 0.50 at 18.00. Volume was 1,066 per cent above average (trending) and Bollinger Bands were 41 per cent wider than normal. The company's profit after taxation stood at Rs25.751 million which translates into an Earning Per Share of Rs1.34 for the 1st quarter of current fiscal year (1QFY11). SEL is currently 13.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into SEL (bullish). Trend forecasting oscillators are currently bearish on SEL.
Lafarge Pakistan Cement Ltd
HOUSEHOLD GOODS
Performance of SR Construction and Materials Index High Low 940.31 906.73 Total cos Defaulter cos P/BV (x) ROE (%) 0.46 7.10
935 1172 6040 44795 1010 11360 37559 2270 12000 13535 4298
High Low 1,863.10 1,777.74 Total cos Defaulter cos P/BV (x) ROE (%) 14.43 30.30
0.91 5.51 6.29 5.50 5.50 -0.01 1.08 40.93 42.97 42.95 42.97 2.04 5.25 5.10 5.10 5.10 -0.15 5.50 5.50 5.06 5.49 -0.01 0.63 6.03 6.26 6.25 6.25 0.22 2.98 3.10 3.00 3.00 0.02 8.91 22.99 23.00 22.30 22.46 -0.53 7.61 12.15 12.51 12.40 12.48 0.33 - 16.71 15.80 15.71 15.71 -1.00 1.26 71.99 71.50 71.15 71.15 -0.84 3.06 51.49 52.00 48.95 49.00 -2.49 4.23 4.42 4.20 4.40 0.17 21.23 56.70 57.00 55.35 56.90 0.20 37.46 3420.19 3483.00 3402.00 3410.15 -10.04 3.20 23.05 24.00 22.00 22.43 -0.62 1.17 10.96 11.25 10.86 10.86 -0.10 7.09 3.30 3.50 3.10 3.12 -0.18 4.58 2790.83 2925.00 2651.29 2890.30 99.47 0.27 3.00 3.12 3.10 3.10 0.10 3.96 56.28 59.09 55.00 59.09 2.81 0.35 5.49 6.00 4.90 4.90 -0.59 14.33 42.00 43.00 40.02 40.12 -1.88 20.26 4372.00 4440.00 4153.40 4340.53 -31.47
CONSTRUCTION AND MATERIALS Open 931.08 Turnover 2,408,468 P/E (x) 6.42
71.98 69.25 71.98 1.73 198.00 195.00 195.41 -1.11 43.26 40.00 40.50 -0.70 2.23 1.95 1.99 -0.06 198.00 197.50 197.60 3.00 23.60 23.10 23.50 -0.50 4.96 4.50 4.50 0.04 11.40 10.90 11.19 0.19 290.00 290.00 290.00 -0.61 64.80 63.50 63.69 -0.71 23.50 22.77 23.25 0.00
2010 Div BR (%) (%)
% Change -0.11 5-Day High 1,280.19 5-Day Low 1,269.66
RSI (14-day)
Performance of SR Household Goods Index
Last 60 days High Low
Volume
-
FOOD PRODUCERS
Performance of SR Industrial Metals and Mining Index High Low 1,040.41 1,024.12 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 33.10
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis
Performance of SR Food Producers Index
INDUSTRIAL METALS AND MINING Open 1,030.08 Turnover 101,559 P/E (x) 3.25
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,595.20 Turnover 19,524,630 P/E (x) 9.68
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,271.01 Turnover 135,075 P/E (x) 4.65
Meezan Bank Limited
% Change -0.84 5-Day High 754.58 5-Day Low 717.52
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
2010 Div BR (%) (%) 150 25 650 100
Performance of SR Pharma and Bio Tech Index
% Change -1.04 5-Day High 1,597.08 5-Day Low 1,565.59 2011 Div BR (%) (%)
10B 25B325.00 -
-
Open 906.45 Turnover 50,562 P/E (x) 7.16 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
8.33 96.60 7.21 91.00 13.49 74.99 7.56 26.53 7.25 9.00 13.56 167.29 5.40 60.00
High
High Low 919.51 903.97 Total cos Defaulter cos P/BV (x) ROE (%) 1.60 22.31 Low
Close Chg
97.99 95.00 95.08 -1.52 95.55 90.51 95.47 4.47 75.00 74.90 74.98 -0.01 27.49 26.80 27.28 0.75 9.15 8.67 8.99 -0.01 174.00 167.00 170.50 3.21 60.50 60.06 60.10 0.10
Close 910.63 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 7667 31673 1418 327 606 8372 498
Change 4.17 Market cap 30,461.74 mn Div Yield (%) 6.22
Last 60 days High Low 112.50 95.55 89.98 30.48 9.99 174.00 69.00
94.00 82.20 70.00 24.15 7.16 116.00 58.70
2010 Div BR (%) (%) 20 30
20B -
% Change 0.46 5-Day High 910.63 5-Day Low 905.71 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
37.90
Total Assets (Rs in mn)
19,704.24
MA (10-day)
3.22
Total Equity (Rs in mn)
9,763.73
MA (100-day)
3.14
Revenue (Rs in mn)
MA (200-day)
3.08
Interest Expense
1st Support
3.05
Loss after Taxation
2nd Support
3.02
EPS 09 (Rs)
1st Resistance
3.18
Book value / share (Rs)
2nd Resistance
3.28
PE 10 E (x)
Pivot
3.15
PBV (x)
8,129.96 1,230.81 (1,278.96) (0.974) 7.44 0.42
LPCL closed down -0.03 at 3.12. Volume was 87 per cent below average (consolidating) and Bollinger Bands were 3 per cent wider 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 1.3 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of LPCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on LPCL.
KASB Bank Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
32.02
Total Assets (Rs in mn)
59,223.06
MA (10-day)
1.68
Total Equity (Rs in mn)
4,958.87
MA (100-day)
2.35
Revenue (Rs in mn)
5,061.63
MA (200-day)
2.77
Interest Expense
1st Support
1.56
Loss after Taxation
2nd Support
1.51
EPS 09 (Rs)
1st Resistance
1.70
Book value / share (Rs)
2nd Resistance
1.79
PE 10 E (x)
Pivot
1.65
PBV (x)
5,490.40 (4,227.75) (4.446) 5.22 0.31
KASBB closed down -0.04 at 1.61. Volume was 17 per cent below average and Bollinger Bands were 110 per cent wider than normal. The company's loss after taxation stood at Rs1.571 billion which translates into a Loss Per Share of Rs2.20 for the nine months of current calendar year (9MCY10). KASBB is currently 41.9 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of KASBB (bearish). Trend forecasting oscillators are currently bearish on KASBB.
BOOK CLOSURES Company
From
To
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 Ansari Sugar Mills Tandlianwala Sugar Mills Zeal Pak Cement Descon Oxychem # Int Industries # Pakistan Oilfields Fauji Fertiliser
14-Feb 14-Feb 15-Feb 16-Feb 17-Feb 17-Feb 18-Feb 18-Feb 18-Feb 19-Feb 19-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 22-Feb 23-Feb
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 28-Feb 28-Feb 01-Mar 01-Mar
D/B/R 15(I) 325(I) 5 7.5(I) 100(I) 35(F)25(B)
Spot AGM/Date 08-Feb 09-Feb 10-Feb 10-Feb 11-Feb 14-Feb
21-Feb 24-Feb 26-Feb 26-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 24-Feb 1-Mar
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Indus Fruit Murree Brewery Co. Shakarganj Food Shezan International Eye Television Media Times LtdXR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 54 3.19 1.12 96.92 1.01 184.82 19.69 17.21 2.78 43.5 3.13 25.44
High 54.1 3.25 0.45 99.5 1.14 190 19.99 18.2 2.8 43.49 3.17 25.69
Low Close 54 3.11 0.15 92.5 1.14 175.58 19 16.75 2.6 42.01 3.01 24.17
54.1 3.12 0.45 98 1.14 175.58 19.27 17.5 2.74 43.28 3.02 24.18
Change 0.1 -0.07 -0.67 1.08 0.13 -9.24 -0.42 0.29 -0.04 -0.22 -0.11 -1.26
Vol 2100 345591 1000 61452 500 11544 13007 203 146362 207 376174 1791244
7
Friday, February 11, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,103.93 Turnover 2,288,601 P/E (x) 5.90 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,114.66 1,081.94 Total cos Defaulter cos P/BV (x) ROE (%) 0.76 12.84
PE
Open
High
Low
Close Chg
78 4.85 37740 12.35 3000 0.64 8606 6175 -
78.31 18.71 2.12 2.61 3.57
78.50 18.84 2.19 2.71 3.63
77.11 18.31 2.12 2.58 3.50
78.50 18.52 2.15 2.62 3.60
0.19 -0.19 0.03 0.01 0.03
Close 1,094.87 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 211 1980676 85956 221758 65104
Change -9.06 Market cap 75,632.59 mn Div Yield (%) 10.60
% Change -0.82 5-Day High 1,114.61 5-Day Low 1,094.87
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 2.51 3.40
2011 Div BR (%) (%)
-
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance Crescent Star Insurance EFU General Insurance Habib Insurance IGI Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance United Insurance XB
204 6.21 369 5.90 279 8.01 457 6.32 121 1250 400 3.14 718 17.11 3000 44.49 250 1.82 350 303 6.00 400 2.30
-
10.25 37.45 71.00 10.38 4.98 40.67 13.00 92.60 17.63 8.48 8.99 11.19 6.80
Paid up Cap(mn)
Company
PE
Open
High
Low
Genertech 198 Hub Power 11572 6.93 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 9.91 Kohinoor Power 126 2.53 Kot Addu Power 8803 5.14 Nishat Chunian Power Ltd 3673 3.56 Nishat Power Ltd 3541 27.87 Sitara Energy Ltd 191 3.36 Southern Electric 1367 Tri-star Power XD 150 -
0.70 38.47 1.59 2.76 18.24 4.11 42.80 16.43 17.53 17.50 2.00 0.93
0.80 38.69 1.75 2.90 19.10 4.49 42.90 16.51 17.70 18.50 2.10 0.94
0.71 37.70 1.60 2.70 17.50 4.15 42.10 16.11 17.10 17.50 2.01 0.91
Close 1,306.88 Listed cap 95,369.29 mn Payout (%) 104.13
Change -17.62 Market cap 107,317.77 mn Div Yield (%) 7.35
Close Chg
Volume
Last 60 days High Low
0.76 37.83 1.60 2.79 17.83 4.15 42.33 16.22 17.28 18.00 2.03 0.93
5509 1471868 101005 1032620 4152 3590 117722 1040903 1031875 158050 284261 401
1.18 41.20 2.15 3.55 22.85 5.39 45.85 18.01 18.70 19.35 2.80 1.49
0.06 -0.64 0.01 0.03 -0.41 0.04 -0.47 -0.21 -0.25 0.50 0.03 0.00
0.65 33.50 1.50 2.14 17.25 3.85 39.00 13.32 14.25 16.50 1.97 0.70
% Change -1.33 5-Day High 1,350.84 5-Day Low 1,306.88
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
Open 750.29 Turnover 21,379 P/E (x) 5.39
0.00 -0.34 -0.50 -0.27 -0.89 -1.75 0.20 -0.40 -0.28 -0.77 0.01 -0.09 0.20
534 6416 4293 22250 35108 45919 4788 5885 234513 300 5000 9702 1010
12.75 40.00 83.00 11.99 6.30 47.90 15.50 99.88 19.40 9.95 10.75 12.93 7.80
10.00 33.11 54.10 10.00 3.10 38.50 11.01 81.10 15.36 6.01 6.00 9.40 5.00
High Low 748.97 721.92 Total cos Defaulter cos P/BV (x) ROE (%) 3.19 3.85
Close 728.76 Listed cap 2,290.72 mn Payout (%) 355.53
Company Sui North Gas Sui South Gas
High Low 1,689.42 1,613.54 Total cos Defaulter cos P/BV (x) ROE (%) 1.19 11.41
Change -8.85 Market cap 36,237.12 mn Div Yield (%) 6.38
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
7.60 3.99
26.09 26.20
26.20 27.10
25.30 25.60
25.55 -0.54 26.47 0.27
255723 5969953
34.00 27.90
25.30 19.95
% Change -0.53 5-Day High 1,700.89 5-Day Low 1,643.21
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,153.63 Turnover 7,336,758 P/E (x) 8.18 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.88 70.94 Askari Bank 6427 7.85 16.49 Bank Alfalah 13492 14.27 11.21 Bank AL-Habib 7322 7.75 36.09 Bank Of Khyber 5004 5.55 4.15 Bank Of Punjab 5288 8.44 BankIslami Pak 5280 920.00 3.80 Faysal Bank 7327 4.55 14.21 Habib Bank Ltd 10019 7.69 123.48 Habib Metropolitan Bank 8732 7.79 25.60 JS Bank Ltd 8150 2.52 KASB Bank Ltd 9509 1.65 MCB Bank Ltd 7602 9.68 222.58 Meezan Bank 6983 9.96 18.99 Mybank Ltd 5304 2.60 National Bank 13455 6.61 76.26 NIB Bank 40437 2.74 Samba Bank 14335 1.89 Silkbank Ltd 26716 2.50 Soneri Bank 6023 6.90 Stand Chart Bank 38716 11.25 7.49 Summit Bank Ltd XR 7251 3.32 United Bank Ltd 12242 7.60 65.23
High
High Low Close 1,161.70 1,126.50 1,133.53 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.14 13.94 40.49 Low
Close Chg
72.00 68.50 70.84 -0.10 16.73 16.25 16.49 0.00 11.25 11.05 11.13 -0.08 36.25 35.90 35.98 -0.11 4.30 4.15 4.16 0.01 8.48 8.30 8.31 -0.13 3.78 3.62 3.68 -0.12 14.31 14.05 14.11 -0.10 124.00 123.06 123.13 -0.35 25.79 25.38 25.46 -0.14 2.63 2.47 2.62 0.10 1.74 1.60 1.61 -0.04 223.50 213.50 214.88 -7.70 19.05 18.82 18.83 -0.16 2.80 2.55 2.60 0.00 76.87 75.51 75.71 -0.55 2.75 2.70 2.72 -0.02 1.89 1.80 1.86 -0.03 2.55 2.46 2.47 -0.03 7.27 6.76 6.81 -0.09 7.59 7.30 7.31 -0.18 3.79 3.32 3.59 0.27 65.50 64.25 64.64 -0.59
Volume
Change -20.10 Market cap 689,764.29 mn Div Yield (%) 4.95
Last 60 days High Low
183470 74.00 341851 19.25 623103 11.99 253538 39.49 28805 4.70 1135851 10.59 39882 4.50 24243 17.05 57136 128.97 2963 29.28 583434 2.95 204602 2.80 1140101 250.48 110998 20.30 48949 3.40 1488914 80.61 192429 3.35 31570 2.17 513026 3.05 36462 8.48 11959 9.04 598007 4.63 283470 70.65
57.10 15.53 9.48 32.10 3.62 7.98 3.00 13.55 102.55 20.50 2.30 1.49 199.00 14.52 1.90 65.26 2.63 1.70 2.44 6.76 7.00 2.74 57.25
% Change -1.74 5-Day High 1,178.22 5-Day Low 1,133.53
2010 Div BR (%) (%)
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 785.76 Turnover 514,401 P/E (x) 12.89 Paid up Cap(mn)
Company Adamjee Insurance
High Low 793.35 769.35 Total cos Defaulter cos P/BV (x) ROE (%) 0.67 5.20
Close 773.02 Listed cap 11,111.34 mn Payout (%) 79.54
Change -12.74 Market cap 47,729.16 mn Div Yield (%) 6.17
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 25.72
90.50
90.75
88.50
88.75 -1.75
138563
96.40
77.50
% Change -1.62 5-Day High 799.80 5-Day Low 773.02
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
UPTO 100 VOLUME
-
Symbols ADAMS ATLH FANM FUDLM PNGRS UVIC SIEM MRNS BATA ILTM CPMFI GRAYS KSTM UPFL SPLC MUKT ALICO FECS CHAS ISTM MEHT NJICL ISIL SANSM IDSM PRWM PTEC SHCI FCONM GUTM PGCL BROT EMCO FZCM PMRS SSIC HUSI ADOS CSUML DIIL JOPP LAKST PAKT SIBL SING KOSM MFFL MTIL NMBL SHSML AASM AZAMT BAFS BIFO CLCPS DATM DINT ESBL FNEL GATM GSPM HINO JKSM KML LATM MOON MQTM SALT SGPL
500
-
2.06
2.11
2.11
2.11 0.05
4.62
1.52
-
20R
-
-
EFU Life Assurance
850 34.26
62.04
62.00
60.00
60.30 -1.74
19056
86.95
60.00
-
-
-
-
New Jub Life Insurance
627 26.85
41.00
40.05
39.05
40.00 -1.00
2000
49.31
39.05
-
-
-
-
Open
High
Low
Close Chg
Last 60 days High Low
% Change -2.87 5-Day High 773.50 5-Day Low 728.76
East West Life
Volume 300
2010 Div BR (%) (%)
2011 Div BR (%) (%)
FINANCIAL SERVICES Performance of SR Financial Services Index Open 399.08 Turnover 3,575,436 P/E (x) 11.71 Paid up Cap(mn)
High Low 411.63 391.46 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 0.91
PE
Open
High
Low
AMZ Ventures 225 1.43 Arif Habib Investments 360 4.30 Arif Habib Limited 450 12.76 Arif Habib Corp 3750 4.59 Dawood Cap Mangt. XB 150 1.26 Dawood Equities 250 First Credit & Invest Bank Ltd 650 12.50 Grays Leasing 215 IGI Investment Bank 2121 15.50 Invest and Fin Sec 600 748.00 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.64 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 7.06 JS Investment 1000 27.92 KASB Securities 1000 Orix Leasing 821 4.60 Pervez Ahmed Sec 775 -
0.56 20.80 25.33 25.05 1.30 1.92 3.00 2.50 2.40 7.73 0.65 3.41 1.70 11.04 3.68 26.60 6.56 4.58 6.50 1.99
0.69 21.84 25.60 25.47 1.74 1.90 3.70 2.50 2.50 7.48 0.79 3.49 1.80 11.48 3.80 26.55 6.90 4.88 6.25 2.00
0.57 20.12 24.51 24.80 1.35 1.65 3.00 2.21 2.40 7.15 0.50 3.22 1.70 10.91 3.65 26.00 6.60 4.56 6.15 1.90
Close Chg
Close 395.92 Listed cap 30,336.44 mn Payout (%) 99.56
Volume
Change -3.16 Market cap 18,470.52 mn Div Yield (%) 3.43
0.63 21.83 25.00 24.95 1.41 1.75 3.00 2.21 2.48 7.48 0.60 3.24 1.79 10.98 3.65 26.25 6.70 4.62 6.25 1.90
0.07 1.03 -0.33 -0.10 0.11 -0.17 0.00 -0.29 0.08 -0.25 -0.05 -0.17 0.09 -0.06 -0.03 -0.35 0.14 0.04 -0.25 -0.09
28288 107963 79355 1018914 37224 69601 200 5001 8460 6002 16289 75619 43909 2679415 94674 6377 234709 15968 7139 59405
% Change -0.79 5-Day High 411.21 5-Day Low 395.92
Last 60 days High Low
2010 Div BR (%) (%)
0.95 22.40 28.00 30.20 2.14 2.75 4.00 3.00 3.90 8.98 1.09 3.95 2.14 14.05 4.60 32.00 7.59 5.43 7.29 2.50
30 11.5 10 -
0.33 16.80 24.51 23.35 1.15 1.28 2.15 0.18 2.26 6.22 0.46 2.95 1.05 10.36 3.51 25.00 6.20 3.80 5.51 1.84
2011 Div BR (%) (%)
20B 20B 10B -
-
-
EQUITY INVESTMENT INSTRUMENTS
2011 Div BR (%) (%)
20 - 20B - 66R 85 10B -63.46R 10 -
-
PE
Company
Close 1,648.83 Listed cap 12,202.80 mn Payout (%) 66.79
25R 10B 20B -
Change -21.53 Market cap 8,564.58 mn Div Yield (%) 4.29
Performance of SR Gas Water and Multiutilities Index Open 1,657.68 Turnover 6,225,676 P/E (x) 10.47
10 10 -
Paid up Cap(mn)
Company
-
GAS WATER AND MULTIUTILITIES
10.25 37.11 70.50 10.11 4.09 38.92 13.20 92.20 17.35 7.71 9.00 11.10 7.00
LIFE INSURANCE
Performance of SR Electricity Index High Low 1,337.05 1,298.71 Total cos Defaulter cos P/BV (x) ROE (%) 1.32 9.35
10.20 37.00 68.10 10.00 3.98 38.70 12.80 92.10 17.25 7.60 9.00 11.00 6.76
Performance of SR Life Insurance Index
ELECTRICITY Open 1,324.49 Turnover 5,251,957 P/E (x) 14.16
10.25 37.82 70.50 10.75 5.94 41.15 13.20 93.99 17.85 7.71 9.00 11.20 7.00
Open 1,436.07 Turnover 21,446,603 P/E (x) 22.32 Company
Paid up Cap(mn)
1st Fid Leasing AL-Meezan Mutual F. Atlas Fund of Funds B R R Guardian Mod. Crescent St Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali NAMCO Balanced Fund PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Safeway Mutual Fund Stand Chart Modaraba Tri-Star 1st Modaraba Tri-Star Mutual
264 1375 525 780 200 524 581 760 1008 3180 1186 283 1200 184 1000 1000 2835 2841 872 340 545 454 212 50
High Low 1,557.01 1,432.50 Total cos Defaulter cos P/BV (x) ROE (%) 0.49 2.21
PE
Open
High
Low
10.00 9.25 2.41 3.20 1.55 11.38 0.73 2.49 6.16 75.00 1.51 2.17 2.69 16.40 6.45 2.42 9.93 8.74 2.27 7.53 4.78 3.72
1.55 10.80 4.98 1.46 0.54 1.95 2.04 3.19 7.05 5.50 5.62 2.20 9.57 1.67 4.00 7.33 14.49 6.70 1.05 1.15 7.70 9.78 0.99 1.27
2.00 11.50 5.98 1.50 0.70 1.87 2.57 3.89 7.25 6.17 6.61 2.95 10.24 1.64 4.73 8.33 15.49 7.70 1.10 1.30 8.00 9.80 1.25 1.40
1.50 11.00 4.99 1.40 0.52 1.80 2.00 3.10 7.15 5.60 5.65 2.95 9.25 1.64 4.10 7.28 14.51 6.56 1.00 1.30 7.52 9.73 1.23 1.34
Close 1,521.37 Listed cap 29,771.58 mn Payout (%) 104.74
Change 85.29 Market cap 20,531.96 mn Div Yield (%) 7.29
% Change 5.94 5-Day High 1,521.37 5-Day Low 1,404.52
Close Chg
Volume
Last 60 days High Low
2010 Div BR (%) (%)
1.60 11.10 5.98 1.41 0.62 1.82 2.30 3.49 7.15 6.00 6.27 2.95 9.37 1.64 4.13 8.33 15.49 7.69 1.00 1.30 7.53 9.75 1.23 1.34
17550 4098171 1537317 9722 2076 9998 161913 2890978 5000 2457307 1265185 1000 2865396 1500 22601 1558586 889158 3618605 9839 500 15505 6335 101 2000
2.34 11.50 5.98 2.79 0.87 2.98 2.57 3.89 7.30 6.17 6.61 3.50 10.24 2.50 4.73 8.33 15.49 7.70 1.20 2.54 9.00 10.29 1.75 2.00
18.5 2.2 0 1.2 17 21 5 10 2.8 15.5 15 10 20 10 3 1 18.2 17 -
0.05 0.30 1.00 -0.05 0.08 -0.13 0.26 0.30 0.10 0.50 0.65 0.75 -0.20 -0.03 0.13 1.00 1.00 0.99 -0.05 0.15 -0.17 -0.03 0.24 0.07
1.16 6.20 3.51 1.21 0.16 1.15 1.61 2.56 6.11 3.20 3.02 1.26 5.18 0.92 2.92 5.31 8.75 4.15 0.81 0.50 5.01 8.51 0.70 0.60
2011 Div BR (%) (%)
-
-
-
15.60 136.95 3.30 6.12 3.95 2.99 1100.00 56.43 640.00 115.76 3.50 47.01 0.65 1215.73 0.69 0.33 17.50 35.21 9.00 7.95 61.00 58.00 76.99 12.20 9.15 14.90 2.38 2.28 1.21 20.30 20.63 0.44 2.55 56.10 43.00 7.10 6.17 16.18 2.53 10.73 12.50 261.01 109.00 2.60 22.50 1.25 72.30 0.40 1.39 9.16 26.13 2.50 59.00 44.00 2.99 0.45 28.57 2.49 5.21 29.00 7.34 129.00 7.94 2.85 9.00 16.05 7.90 74.74 0.82
High 15.39 136.50 3.10 6.30 3.80 3.00 1102.00 56.49 672.00 121.54 4.19 49.00 0.69 1276.51 0.63 0.74 18.50 36.97 9.80 7.90 58.95 60.25 78.48 12.15 8.15 14.50 2.50 2.34 1.21 19.29 19.63 0.52 2.91 58.90 42.00 7.10 6.50 15.96 3.45 11.73 13.50 269.99 113.00 3.20 23.62 1.47 75.91 0.55 2.00 8.81 25.80 2.63 60.00 45.95 3.99 0.45 29.94 2.44 4.81 29.00 7.68 135.00 8.25 3.75 10.00 16.80 7.85 71.01 1.49
Low
Close
15.20 136.35 3.10 6.30 3.80 2.80 1065.50 56.49 628.00 121.54 4.19 48.00 0.55 1276.51 0.62 0.33 16.50 34.03 9.00 7.90 57.95 58.00 73.15 11.60 8.15 14.00 2.00 2.34 1.21 19.29 19.62 0.52 2.90 53.35 40.85 6.81 6.05 15.96 2.51 10.02 11.50 250.51 113.00 2.60 21.40 1.00 69.25 0.31 1.41 8.70 25.51 2.63 58.00 45.95 2.99 0.45 29.90 2.39 4.81 29.00 7.68 128.00 8.24 2.89 9.99 16.80 7.85 71.01 1.10
15.39 136.35 3.10 6.30 3.80 2.80 1069.89 56.49 631.77 121.54 4.19 48.00 0.67 1276.51 0.63 0.44 16.50 34.26 9.65 7.90 58.95 58.00 78.48 12.15 8.15 14.00 2.00 2.34 1.21 19.29 19.63 0.52 2.91 54.28 41.85 6.81 6.23 15.96 3.09 10.88 12.00 250.51 113.00 2.75 22.35 1.00 75.91 0.43 1.41 8.81 25.80 2.63 58.00 45.95 2.99 0.45 29.90 2.39 4.81 29.00 7.68 128.00 8.24 2.89 9.99 16.80 7.85 71.01 1.10
Change
Vol
-0.21 -0.60 -0.20 0.18 -0.15 -0.19 -30.11 0.06 -8.23 5.78 0.69 0.99 0.02 60.78 -0.06 0.11 -1.00 -0.95 0.65 -0.05 -2.05 0.00 1.49 -0.05 -1.00 -0.90 -0.38 0.06 0.00 -1.01 -1.00 0.08 0.36 -1.82 -1.15 -0.29 0.06 -0.22 0.56 0.15 -0.50 -10.50 4.00 0.15 -0.15 -0.25 3.61 0.03 0.02 -0.35 -0.33 0.13 -1.00 1.95 0.00 0.00 1.33 -0.10 -0.40 0.00 0.34 -1.00 0.30 0.04 0.99 0.75 -0.05 -3.73 0.28
100 100 100 100 100 100 99 70 68 53 50 50 45 41 32 28 23 23 22 20 14 13 12 12 11 11 11 11 10 10 10 9 6 6 6 6 5 4 4 4 4 3 3 3 3 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
Performance of SR Equity Investment Instruments Index
Open
Open
High
Low
Close
Change
Vol
UBL-FEB
65.62
65.70
64.55
64.84
MCB-FEB
224.13
224.00
214.25
216.68
-0.78 1479500
POL-FEB
325.99
326.00
320.00
320.69
-5.30
431000
FFBL-FEB
41.76
41.79
41.32
41.45
-0.31
385000
NML-FEB
66.11
66.45
65.10
65.35
-0.76
313500
-7.45
480500
ANL-FEB
11.07
11.30
10.86
10.96
-0.11
308000
POL-FEBB
318.33
317.99
312.00
312.81
-5.52
305000
FFC-FEBB
119.54
120.80
119.00
119.93
0.39
255000
LUCK-FEB
71.09
71.30
69.10
69.65
-1.44
249000
DGKC-FEB
28.85
28.95
28.30
28.45
-0.40
225500
NBP-FEB
76.80
77.15
76.00
76.07
-0.73
223000
ENGRO-FEB 216.95
217.49
214.00
214.68
-2.27
214500
PSO-FEB
290.86
291.05
280.00
281.64
-9.22
212500
FFC-FEB
150.84
151.90
150.40
151.15
0.31
180000
PPL-FEB
213.84
213.45
210.10
210.99
-2.85
83000
NETSOL-FEB 25.53
25.80
24.26
24.26
-1.27
81500
AICL-FEB
90.75
89.00
89.11
-2.01
43000
NCL-FEB
91.12 25.63
25.70
25.01
25.56
-0.07
38000
170.67
170.99
169.00
169.45
-1.22
18500
8.50
8.51
8.36
8.38
-0.12
13000
HUBC-FEB
39.49
38.25
38.00
38.00
-1.49
5500
PTC-FEB
18.80
18.75
18.75
18.75
-0.05
2000
Symbols
Open
OGDC-FEB BOP-FEB
ZERO VOLUME High
Low
Close
Change
Vol
AABS
101.79
97.00
97.00
97.00
-4.79
0.00
ARM
15.25
15.30
15.30
15.30
0.05
0.00
BAPL
8.00
7.80
7.80
7.80
-0.20
0.00
BILF
1.50
1.49
1.49
1.49
-0.01
0.00
FHBM
7.39
7.40
7.40
7.40
0.01
0.00
FPRM
9.18
9.00
9.00
9.00
-0.18
0.00
ICCT
1.32
1.31
1.31
1.31
-0.01
0.00
NATM
18.00
19.00
19.00
19.00
1.00
0.00
NOPKNV
15.75
15.70
15.70
15.70
-0.05
0.00
OTSU
34.00
33.99
33.99
33.99
-0.01
0.00
PSEL
171.00
169.99
169.99
169.99
-1.01
0.00
8.20
8.00
8.00
8.00
-0.20
0.00
RUBY
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
Fair Value
*Invest Cap
Accumulate
AKD Securities Ltd
TFD Research
44.25
Neutral
TFD Research
12,134.75
MA (5-day)
12,338.08
Support 2
12,082.05
MA (10-day)
12,338.73
Resistance 1
12,282.30
MA (100-day)
11,296.31
Resistance 2
12,377.15
Technical Analysis
MA (200-day)
10,610.11
Pivot
12,229.60
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Technical Outlook
Fair Value
tors are currently bullish on FFBL.
Brokerage House
Fair Value 77
TFD Research
50.3
Positive
TFD Research
75.5
Neutral
Positive
TFD Research
92.3
Positive
Leverage Position
36.95 18.78 19.19 19.21
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
585.02 10,834.64 7.80 18.60
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
45.88 76.89 69.98 68.36
oscillators are currently bearish on PTC.
318.50 24,113.47 121.46 76.09
* Target price for Jun-11 & **Net Open Interest in future market
71.45 78.6
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
46.27 65.95 58.05 52.83
forecasting oscillators are currently bearish on NBP.
MCB Bank Ltd
Fauji Fertiliser Co
Rs Recommendations
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
Fair Value
Rs Recommendations
Buy
*Invest Cap
149
Hold
AKD Securities Ltd
214.57
Reduce
Accumulate
AKD Securities Ltd
145
Neutral
TFD Research
218.18
Neutral
Positive
TFD Research
139.5
Neutral
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Technical Outlook
Technical Outlook 175.80 11,435.79 67.49 65.44
* 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)
63.88 150.64 120.88 114.23
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
373.19 56,426.31 45.54 151.00
* 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)
34.65 225.74 212.11 204.47
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
304.09 65,342.00 152.89 218.62
* Target price for Jun-11 & **Net Open Interest in future market
HUBC closed down -0.64 at 37.83. Volume was 18 per cent below aver- NML closed down -0.71 at 65.05. Volume was 69 per cent below average FFC closed up 0.61 at 151.20. Volume was 21 per cent below average and MCB closed down -7.70 at 214.88. Volume was 3 per cent above average age and Bollinger Bands were 19 per cent wider than normal.
(consolidating) and Bollinger Bands were 8 per cent narrower than normal. Bollinger Bands were 25 per cent narrower than normal.
and Bollinger Bands were 44 per cent wider than normal.
HUBC is currently 7.9 per cent above its 200-day moving average and is NML is currently 23.1 per cent above its 200-day moving average and is FFC is currently 32.3 per cent above its 200-day moving average and is MCB is currently 5.1 per cent above its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low when compared to volatility over the last 10 trading sessions. Volume indicators reflect mod- 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 erate flows of volume out of HUBC (mildly bearish). Trend forecasting reflect volume flowing into and out of NML at a relatively equal pace. Trend flowing into and out of FFC at a relatively equal pace. Trend forecasting reflect very strong flows of volume out of MCB (bearish). Trend forecasting oscillators are currently bearish on HUBC.
forecasting oscillators are currently bearish on NML.
oscillators are currently bullish on FFC.
oscillators are currently bearish on MCB.
Time
11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 11-Feb 12-Feb 12-Feb 12-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb
10:30 10:30 10:30 9:30 11:00 3:00 3:30 11:00 2:30 9:30 11:00 11:30 3:00 11:30 9:30 10:00 11:00 11:30 2:30 9:30
TECHNICAL LEVELS
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Date
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 Tri-Pack Films Ltd First Prudential Modaraba Al-Ghazi Tractors Limited Rafhan Maize Products Com Ltd Nestle Pakistan Limited Central Forest Products Ltd Sitara Chemical Industries Ltd Pakistan Paper Products Ltd Unilever Pakistan Limited Engro Corporation Limited
Company
Technical Outlook
* Target price for Jun-11 & **Net Open Interest in future market
Technical Outlook
Technical Outlook
* Target price for Jun-11 & **Net Open Interest in future market
AKD Securities Ltd
erate flows of volume into FFBL (mildly bullish). Trend forecasting oscilla- flowing into and out of PTC at a relatively equal pace. Trend forecasting reflect volume flowing into and out of NBP at a relatively equal pace. Trend
AKD Securities Ltd
810.01 30,642.61 1.13 38.17
Buy
volatility over the last 10 trading sessions. Volume indicators reflect mod- volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators
*Invest Cap
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Sell
23.91
displaying an upward trend. Volatility is high as compared to the average playing a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low when compared to
Accumulate
45.56 38.56 35.95 35.05
Rs Recommendations
52.4
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
*Invest Cap
FFBL is currently 31.9 per cent above its 200-day moving average and is PTC is currently 3.6 per cent below its 200-day moving average and is dis- NBP is currently 10.8 per cent above its 200-day moving average and is
42.1
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,473.14 ** NOI Rs (mn) 74.65 Mean 41.35
* Target price for Jun-11 & **Net Open Interest in future market
Buy
Leverage Position
Brokerage House
Buy
FFBL closed down -0.25 at 41.21. Volume was 57 per cent below average PTC closed down -0.19 at 18.52. Volume was 1 per cent below average NBP closed down -0.55 at 75.71. Volume was 65 per cent below average (consolidating) and Bollinger Bands were 45 per cent narrower than normal. and Bollinger Bands were 75 per cent wider than normal. (consolidating) and Bollinger Bands were 46 per cent narrower than normal.
AKD Securities Ltd
Technical Analysis
Rs Recommendations
25
25.8
Nishat Mills Ltd
Rs Recommendations
47
Fair Value
Technical Outlook
Leverage Position
58.64 41.14 34.34 31.25
Hub Power Co Ltd
Brokerage House
*Invest Cap
45.52
Support 1
*Invest Cap
Brokerage House
Hold
AKD Securities Ltd
45.04
KSE 100 INDEX closed down -111.81 points at 12,187.47. Volume was 52 per cent below average (consolidating) and Bollinger Bands were 35 per cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,282.30 and 2nd resistance level at 12,377.15, while Index will continue to find its 1st support level at 12,134.75 and 2nd support level at 12,082.05. KSE 100 INDEX is currently 14.9 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bearish on INDEX.
Rs Recommendations
39
National Bank of Pakistan
Pakistan Telecommunication Co Ltd
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 44.99 2.90 2.80 50.77 68.90 66.95 12.31 51.35 51.25 42.09 24.65 24.40 39.10 24.50 23.95 44.35 87.90 87.10 35.60 16.25 16.00 49.14 10.75 10.60 55.94 376.40 372.50 36.48 117.75 116.35 47.04 11.05 10.95 42.98 3.60 3.55 33.51 8.25 8.20 45.39 1.95 1.90 38.20 28.05 27.80 49.80 2.90 2.85 39.35 2.45 2.40 37.35 38.05 37.15 21.71 59.55 58.75 54.82 212.00 210.35 38.64 14.00 13.90 32.84 4.50 4.45 58.64 41.00 40.80 63.88 150.25 149.35 50.68 122.80 122.45 45.56 37.45 37.10 51.68 146.90 145.55 59.46 280.35 270.65 41.81 3.60 3.55 44.23 1.55 1.50 56.97 2.50 2.40 44.21 10.75 10.55 45.17 42.00 41.65 47.83 2.70 2.60 61.16 16.00 15.85 33.02 67.45 66.25 34.65 211.10 207.30 46.18 2.60 2.55 45.88 75.20 74.65 60.68 24.65 24.00 50.77 23.65 23.15 39.12 2.65 2.60 66.78 2.70 2.65 46.27 64.40 63.80 41.96 168.30 166.85 50.76 2.95 2.90 42.45 1.90 1.85 63.06 2.60 2.50 39.53 6.30 6.15 48.10 318.20 315.80 41.99 208.50 207.00 34.26 63.20 62.70 34.82 275.70 271.15 36.95 18.30 18.05 57.74 212.80 210.95 34.19 25.15 24.80 66.39 13.95 13.80 70.65 25.70 24.90 48.55 2.10 2.05 39.58 3.05 3.00 39.72 64.10 63.55 42.83 2.55 2.50
1st 2nd Resistance 3.10 3.25 72.40 73.95 51.75 52.00 25.35 25.75 25.55 26.15 90.15 91.60 16.75 16.95 11.15 11.35 385.80 391.25 121.30 123.45 11.25 11.35 3.75 3.85 8.40 8.55 2.05 2.10 28.75 29.15 3.10 3.25 2.55 2.60 40.50 42.05 61.55 62.75 215.90 218.15 14.25 14.40 4.65 4.75 41.55 41.85 152.05 152.90 123.75 124.35 38.45 39.05 149.80 151.35 294.85 299.65 3.75 3.85 1.70 1.80 2.65 2.75 11.35 11.70 42.80 43.25 2.90 3.00 16.35 16.55 70.35 72.15 221.10 227.30 2.70 2.75 76.55 77.40 25.90 26.50 25.20 26.20 2.75 2.80 2.90 3.00 65.95 66.90 171.55 173.30 3.15 3.25 2.00 2.05 2.80 2.90 6.75 7.00 324.50 328.40 212.75 215.50 64.50 65.30 287.60 295.00 18.80 19.10 216.70 218.75 26.05 26.60 14.35 14.60 27.20 27.90 2.20 2.25 3.20 3.30 65.35 66.05 2.70 2.75
Pivot 3.00 70.45 51.65 25.05 25.05 89.35 16.50 11.00 381.90 119.90 11.15 3.70 8.35 2.00 28.50 3.05 2.50 39.60 60.75 214.25 14.15 4.60 41.30 151.15 123.40 38.05 148.45 285.15 3.70 1.65 2.55 11.10 42.45 2.80 16.20 69.20 217.30 2.65 76.05 25.25 24.70 2.70 2.80 65.35 170.10 3.05 1.95 2.70 6.60 322.10 211.25 64.00 283.05 18.55 214.85 25.70 14.20 26.40 2.15 3.15 64.80 2.65
8
Friday, February 11, 2011
Indian cbank resolves to up financial inclusion
UK banks 2010 profits to rise but risks abound A PEX
COURT SAYS NO TO
S TATE B ANK ’ S
COMMISSION ON THE
‘SBP defaulted on waived-loans issue’ CJ says SBP thinks SC is innocent of what's going on ISLAMABAD: Supreme Court of Pakistan has said no the State Bank of Pakistan’s (SBP) proposal that a commission be formed to look into the bank loans worth Rs256 billion written-off during 19712009. It also observed that SBP has failed to deal with the issue. The court instead asked the SBP counsel to submit details of the loans waived off during KARACHI: (L-R) The top management of Summit Bank, Anwar Lutfullah, Group Head Operations, Husain the last two years. Lawai, CEO and Zahir Esmail, Head of Retail/Branch Banking presiding at the launch of Summit Bank after The four-member bench its merger with Atlas Bank. The new bank Promises a satisfying banking experience.-Staff Photo comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalil-ur-Rehman Ramday resumed hearing of a suo moto notice related to the Staff Reporter dated Customer Deposits have waiver of Rs256 billion bank also gone up to Rs62 billion, loans from 1971 to 2009. KARACHI: The re-launch of number of accounts to about PESHAWAR: A branch of Summit Bank Limited (SBL) 100,000 and advances to Rs44 Faysal Bank was inaugurated at (formerly Arif Habib Bank) was billion. Addressing the media on the the new academic block of announced by the bank's manHusain Lawai, University of Peshawar which agement at a press briefing ses- occasion, President & CEO, Summit apart from its other banking sion held at a local hotel. Summit Bank is one of the Bank said, "We want to give our activities would be responsible for taking deposits of the fastest growing Commercial customers a satisfying banking Examination fee of the Banks of the country supported experience that is geared University of Peshawar on by an overseas investment enti- towards offering banking soluty - Suroor Investment Limited. tions in line with the changing FRANKFURT: The biggest Campus. After the successful merger customer needs. Our customers German bank, Deutsche Bank, The branch was formally inaugurated by Vice Chancellor with Atlas Bank, Summit Bank will now benefit from a wider reported a 2010 fourth-quarter University of Peshawar Prof Dr has an increased network of 80 range of products and services net profit of 605 million euros branches having presence in 20 as well as an expanded network ($ 835 million) and a full-year Azmat Hayat Khan. different cities across Pakistan of branches with several figure of 2.3 billion euros. That represented a plunge of and Azad Jammu and Kashmir. onsite/offsite ATMs across As part of the merger, all Atlas Pakistan. Besides, we have 54 per cent from the bank's bank customers are now part of many products in the pipeline to 2009 net profit of five billion "Summit Family" - who are cater to varying financial needs euros. The fourth-quarter figure reppromised a satisfying banking of all the customer segments we resented a fall of more than 53 experience. The bank's consoli- are serving." per cent from the same period a year earlier, and was the result of recent acquisitions and restructuring costs. Analysts polled by Dow Jones Newswires had forecast a fourth-quarter net profit of about 800 million euros for this year. Deutsche Bank said it would Addressing a ceremony after nonetheless propose an the inauguration, the Vice unchanged dividend of 75 euro Chancellor said that this branch Staff Correspondent Consumer Banking said, "We has been opened in the new are extremely pleased to launch cents per share. "2010 has been a year of academic block to make it con- KARACHI: Standard another enhancement to our venient for the students so that Chartered Bank (Pakistan) Retail Products. This agreement investment and change for they should have easy access in Limited - SCBPL- and TPL is a good example of Standard Deutsche Bank," chairman depositing their dues without Direct Insurance Ltd (TDI) Chartered living up to its brand Josef Ackermann acknowlhaving to worry about the long signed an agreement that allows promise. It's here for good, and edged in a statement. "In the process, while again queues for submitting fees or all Standard Chartered account reflects our ongoing commitpersonal cash withdrawals. He and credit card holders to be eli- ment towards bringing new and demonstrating the earnings strength of our core businesses, appreciated the efforts of the gible for an exclusive discount innovative customer solutions we greatly improved our global Faysal Bank management for on TDI Auto Insurance to the market." making the bank operational in Products. This will enable Saad Nissar, CEO, TDI said, market position and are emia short period of time and urged SCBPL customers to get the "TPL Direct Insurance and nently well placed for further them to provide best facilities most competitive auto insur- Standard Chartered Bank share growth," he added.-APP to the students so that their pre- ance rates in the market. a common vision of customer cious time is not wasted in the Standard Chartered is convenience and giving somebanking operational delays. Pakistan's largest international thing extra to create the right Treasurer University of Bank. The bank is keen on value for their customers." Peshawar Dr Sanaullah said building longterm partnerships TDI is the first Direct that the bank is to provide with its clients by offering Insurance Company of Pakistan online facilities to the students banking solutions that help add offering 24/7 services, with and soon an ATM machine value to their businesses. fastest insurance claim lodging, would also be installed here for Commenting on this agree- processing and settlement times cash withdrawals as well.-APP ment, Aalishaan Zaidi, Head of in the local industry. Staff Reporter
Faysal Bank in Peshawar University
SBL sets eyes on the summit
Deutsche Bank '10 profit hits 2.3bn euros
Low-cost auto insurance for SCBPL family
State Bank re-advises on Rs500 banknote
KARACHI: Head of Retail Products, Standard Chartered Bank Hasnain Khoja, Head of Premium Banking, Standard Chartered Bank Nazim Mahmood , CEO TDI Saad Nisar and COO, TDI Kazim Hasan, along with their respective team members.-Staff Photo
ISLAMABAD: The State Bank of Pakistan has once again advised the general public to exchange the old-design and bigger-size banknote of Rs500from the field offices of SBP Banking Services Corporation and the branches of all commercial banks throughout the country up to September 30. It may be recalled that the Federal Government has earlier notified that the old-design banknote of Rs500 (introduced in April 1986) will cease to be the legal tender and not exchangeable with effect from October 1, 2011, says a Bank statement issued here.-APP
Syed Iqbal Haider, counsel for the SBP, apprised the bench that about 50000 people got their loans waived off during the said period. He said that the prime function of SBP was that of a regulatory authority and not of a supervisory one. He said the private banks were regulated through their boards of directors. He was of the view that going through the details of written off loans during last many years would be a huge task and a commission should be formed to deal with the issue. The Chief Justice observed that the SBP was thinking that the court is innocent of what's going on. "Tell us about certain people
who had their loans written off and are now dying of hunger. You let the influential people off the hook and tighten your noose around the poor people only ", he added. He asked the counsel to provide details regarding cancellation of licence of any bank for violation of the rules and regulations. Justice Muhammad Sair Ali asked him to provide information about legal action taken against any bank for writing off loans illegally or against a defaulter. He said that in most cases, the loans were written off on political basis. Justice Ramday told the counsel that under Section 40A of the Banking Companies Ordinance 1962, the SBP had
the responsibility to safeguard interests of the depositors. He said under the Section 41, it was the responsibility of SBP to supervise whether any bank was working against the public interest. He observed that the SBP's approach to deal with the issue has failed. Chief Justice said that it was national wealth which should be recovered at all cost. He added the apex court would go to every extent for the recovery of the amount irrespective of how much a person was influential. He said there was a democratic setup in the country and the government could legislate the recovery of waived loans. Hearing was adjourned till February 14. -Agencies
SBP vows backing for Islamic banking Deputy Governor hopes of IBIs growth KARACHI: Yaseen Anwar, Deputy Governor, State Bank of Pakistan has said that the central bank is committed to provide an enabling and supportive legal, policy and regulatory framework for the development of the Islamic banking industry on sound footings in the country. While delivering a welcome note at a talk on 'Narrowing the gap between philosophical underpinnings of Islamic finance & its practices' by Dr Abbas Mirakhor, a renowned economist & Islamic finance professional and former Executive Director of the International Monetary Fund at SBP, Karachi on Thursday, Anwar said that the State Bank is taking a number of initiatives for the promotion of Islamic finance in Pakistan. He said that in addition to developing the regulatory, supervisory and Shariah compliance framework, SBP is also partnering with the industry to create awareness about the utility of Islamic banking and finance in achieving socioeconomic prosperity at the individual as well as
community and state levels. "SBP also is helping to build human resource capacity which is critically important for the industry for sustaining the growth momentum and improving its footprint and share in the banking system," he added. SBP Deputy Governor said
that the Islamic banking Industry has grown manifold since its launch in 2001 and presently constitutes about 6.7 per cent of the banking system in Pakistan. The industry now has a network of more than 750 branches across the country and given the strong growth momentum and rising acceptability, it is likely to increase its share to 10-12 per cent over the next 2-3 years, he
said. "The overall outlook for the industry in Pakistan is thus positive and its prospects to make further strides in the foreseeable future are very bright," he added. Anwar said that the global outlook of the Islamic finance industry is also positive as it has been growing at a fast pace and extending its outreach beyond the Muslim countries. Since 2006 the industry grew on average 28 per cent annually with its asset base reaching about $1 trillion, he added. He said that the recent crisis in the western financial markets has also given a big boost to the acceptability and promotion of Islamic banking as a more stable and prudent system than its conventional counterpart. "The inherent checks and balances in the Islamic financial system, which prohibits Islamic banks to deal in speculative activities and strongly links growth of financial assets with that of the real economy largely kept the Islamic banks insulated from the financial crisis," he added.Online
BoK assets sit strong at Rs51bn PESHAWAR: The Bank of Khyber (BoK) assets have reached Rs51 billion by the end of December 2010, showing the confidence of the customers with the blessing of Al-Mighty Allah. This was stated by Bilal Mustafa Managing Director BoK, while inaugurating BoK Annual Managers Conference 2011 in the provincial metropolis. The annual managers conference was held to review the operational activities and achievements of the bank during 2010 and to finalise the targets and operational strategy for the year 2011. Mustafa mentioned that in order to achieve desired goals, the BoK would further increase its branch network in 2011. In this connection, a branch expansion plan is already underway. This initiative of the management will further strengthen the bank and with increased network of branches, the BoK would play its pivotal role in socioeconomic development. Bilal Mustafa while reviewing the operational results of 2010, mentioned that the BoK's operational results show a tremendous growth. In order to achieve the desired targets, the branches should work more aggressively and in a well-planned
manner, assuring that the Head Office cooperation and guidance in this regard will be available to them for achieving the targets. He specifically emphasised on home remittances business and mentioned that during 2010, BoK procured over Rs10 billion home remittances. He advised the branch managers that we could easily improve this figure by working more efficiently. He said that we are already having a plan to engage more exchange companies to cater the target clientele in various parts of the Province. Mustafa also mentioned that the establishment of Islamic Banking counters in all conventional banking branches will entertain clients who wish to adopt Islamic banking modes. The annual managers conference was attended by Mir Javed Hashmat Executive Director BoK, Arbab Riaz Ahmed Group Head Islamic Banking, Imran Samad Group Head Credit Management, apart from heads of various divisions of Head Office. While speaking on the occasion Mir Javed Hashmat Executive Director BoK stressed upon the managers to work more efficiently and with dedication to achieve excellence in operational target.-Online
9
Friday, February 11, 2011
Oil pares gain on reports Mubarak stepping down
European vegetable oil prices
IEA raises oil demand growth forecast, supply outlook
ROTTERDAM: The following were the Thursday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11 1025.00, Mar11 1025.00, Apr11 1025.00, May11/Jul11 1035.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1035.00-10.00, Aug11/Oct11 1010.00+0.00, Nov11/Jan12 1018.00-2.00, Feb12/Apr12 1025.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1480.00+0.00, Jul11/Sep11 1495.00+0.00, Oct11/Dec11 1435.00+15.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1582.50-5.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Feb11 1325.00-10.00, Mar11 1325.00-10.00, Apr11/Jun11 1312.50-10.00, Jul11/Sep11 1290.00-10.00. PALMOIL: RBD dlrs tonne cif Rotterdam Mar11 1377.50, Apr11/Jun11 1350.00. PALMOIL: RBD dlrs tonne fob Malaysia Mar11 1322.50+0.00, Apr11/Jun11 1295.00-2.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1340.00, Mar11 1330.00+0.00, Apr11/Jun11 1305.00+0.00, Jul11/Sep11 1267.50-2.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 2350.00+20.00, Feb11/Mar11 2300.00+5.00, Mar11/Apr11 2280.00+5.00, Apr11/May11 2260.00+10.00. -Reuters
LONDON: US oil was up slightly on Thursday afternoon after a volatile day which saw it spike $1 on strong US jobs data and talk the Saudi King had died, only to fade after reports Egypt's leader Hosni Mubarak would step down. In London, Brent crude was down in choppy trade as the dollar climbed and OPEC reported a boost in January output. "A bit of the premium has come out of the oil markets... Obviously, if it's a peaceful stepdown (by Mubarak) and anarchy stops on the streets, it will completely ease fears that of any remote possibility that the Suez Canal was ever going to be disrupted," said Rob Montefusco, at Sucden Financial. March ICE Brent was down by 68 cents at $101.13 a barrel at 1600 GMT having earlier risen by over $1 to $102.88 a barrel on reports that the Saudi king might have died. Saudi sources denied the reports US crude for March was up 21
cents at $86.92 a barrel after having risen earlier by $1 to as high as $87.77 a barrel as US jobless claims were reported at a 2-1/2-year low. "There's a little bit of rumbling on Europe and the euro is weakening and the dollar is strengthening... I'd say the stronger dollar is the main factor," said Simon Wardell, an oil analyst at
Global Insight. "The rumour about the Saudi King sent Brent higher and the Brent/WTI spread blew out and after the denials Brent pulled back. The concern was about a transition of power in Saudi Arabia with all this uncertainty about Egypt and the region going on," said Phil Flynn, analyst at PFGBest Research in Chicago. Media reported that Egypt's President of 30 years may step down and the situation in the country would be clarified
soon, while the head of the US CIA said there was a "strong likelihood" Mubarak would go on Thursday. Higher OPEC production also weighed on prices after the group's monthly report said its oil output rose to 29.72 million bpd in January, the highest level since December 2008. But oil demand growth forecasts also rose, as both OPEC and the International Energy Agency adjusted their outlooks for consumption upwards. OPEC revised global demand for OPEC crude up by around 400,000 bpd to 29.80 million bpd. The group warned that oil prices would act to balance out demand. And the IEA said oil demand will hit a record 90 million barrels per day (bpd) by the fourth quarter of 2011 in its monthly report. But the agency also added that rising OPEC production and comfortable oil stocks in developed economies should limit a further spike in oil prices. -Reuters
Indian sugar drops on exports delay
HENAN - CHINA: Farmers watering their drought-stricken wheat field in Luoyang, north China's Henan province, as the worst drought in six decades affecting large swathes of northern China. -Agencies
US cotton at 150yr top, $2 cotton in sight NEW YORK: US cotton futures ended Wednesday at a 150-year high on investment fund and speculative buying in heavy volume with momentum expected to push prices higher in the days ahead, analysts said. The runaway cotton market is the best performing commodity in the Reuters-Jefferies commodity index, having risen nearly 25 per cent year to date. Last year, cotton was also the top performer in the commodity index as it rallied 90 per cent. The key March cotton contract on ICE Futures US increased 5.29 cents or by 3.0 per cent to
conclude at $1.8058 per lb, a record settlement close for the market. The contract traded from $1.7367 to $1.8229, a fresh record intra-day mark. Total volume hit some 44,100 lots, more than double the 30day norm, Thomson Reuters preliminary data showed. 'I think it is spec-related buying,' said Sharon Johnson, senior cotton analyst with brokerage Penson Futures in Atlanta, Georgia. She said cotton may have seen some high-frequency dealings from algorithmic traders who rapidly go in and out of the mar-
ket, making money on fractional differences in contracts such as cotton. Lou Barbera, cotton analyst at brokers VIP Commodities, said part of the push in the market also came from panic mill buying. He said the momentum of the rally in cotton could eventually see the July cotton contract hit the psychological $2 per lb level in the months ahead. Analysts said the market barely reacted to the US Agriculture Department's monthly supply/demand report since there were no major changes in the data. -Reuters
Palm off 3-year high; supply concerns remain KUALA LUMPUR: Malaysian palm oil futures ended off three-year highs hit earlier on Thursday as traders booked some profits after a slew of industry data showed tight vegetable oil supplies at a time when demand has picked up. Industry regulator Malaysian Palm Oil Board said January palm oil stocks fell to a sixmonth low, as floods and heavy rains curbed output. The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose as much as 0.9 per cent to 3,967 ringgit ($1,306), a level not reached since March 2008. The con-
tract later settled 0.1 per cent lower at 3,926 ringgit a tonne. Overall volumes more than doubled to 35,028 lots at 25 tonnes each, compared to the usual 15,000 lots. Cargo surveyor Intertek Testing Services said February 1-10 palm oil exports jumped 45.7 per cent from the same period a month ago. Another surveyor, Societe Generale de Surveillance, saw
a 28.5 per cent rise. The most active Sept. soyoil contract on China's Dalian Commodity Exchange rose 1.0 per cent, playing catch up with overseas markets after country's financial markets were closed for one-week Lunar New Year holiday. US soyoil for March delivery fell 0.1 per cent in Asian trade after posting strong gains on the USDA report. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 09 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 09 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 2305 2315 2250 2260 2250 2260
2537 2538 2557 2557.5 2620 2625 2660 2665
9999 2574.5 10000 2575 9972 2545 9973 2545.5 9770 2495 9780 2500 9335 2448 9345 2453
28255 28260 28275 28280 27070 27170 25720 25820
TIN
ZINC NASAAC
31490 2453.5 31495 2454 31475 2471 31500 2472 30990 2488 31040 2493 2457 2462
2475 2480 2500 2505 2545 2555 2600 2610
MUMBAI: Indian spot sugar prices fell for a third straight day on Thursday on the government's indecision over exports of 500,000 tonnes sugar and as demand stayed weak in an oversupplied market, dealers said. "Prices are seen remaining under pressure this month unless government allows exports," said a member of Bombay Sugar Merchants Association (BSMA). India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety fell by 0.5 per cent to 2,650 rupees ($58) per 100 kg. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended up 0.43 per cent at 2,783 rupees per 100 kg on bargain-buying. India is likely to produce 25 million tonnes of sugar in the new season that began in Oct. 1, a producers' body said on Feb. 8, slightly lowering its previous forecast as unseasonal rains trimmed cane yields in a key state. -Reuters
Copper up but China demand worries linger LONDON: Copper edged up on Thursday, bouncing from earlier losses as the dollar pared gains versus the euro, but with prices losing a grip of this week's record high. The market kept a keen eye on the demand outlook in China, after an interest-rate hike in the top base metals consumer on Tuesday. Three-month copper on the London Metal Exchange traded closed at $9,951 a tonne, against a close of $9,925 on Wednesday and after striking a record high of $10,160 on Monday. "Copper's...a bit overheated for the moment," VTB Capital analyst Andrey Kryuchenkov said, adding concerns about Chinese demand had dented copper after the rate hike. "For a sustained push over $10,000 you'll need China coming back and restocking," he said. It was the second Chinese rate hike in just over six weeks as the government intensified a battle to quell high inflation in the fast expanding economy. Helping metals bounce, the dollar pared gains versus the euro. A stronger US dollar deters non-US investors. Copper prices have risen around 3 per cent since the beginning of January, supported by generally positive economic data, which suggested stronger demand for a metal that is in short supply. The metal earlier erased losses briefly, to trade flat, after data showed US claims for unemployment benefits dropped more than expected last week.
Copper prices remained high enough to deter physical demand for the metal, as consumers work through surplus Chinese inventory. More supply could be on tap. Chile, the world's top copper producer, moved to head off an
Shanghai copper higher The most active futures in Shanghai also rose half a per cent to 75,880 yuan, while Shanghai zinc rose almost 1 per cent to 19,425 yuan. energy squeeze due to a prolonged drought. Global miner Rio Tinto said it would continue to focus on its expansion projects, after approving $12 billion worth of work last year. Further denting confidence in demand, stocks of copper in LME warehouses last rose 550 tonnes to 396,950 tonnes, continuing a recent trend. Reflecting moribund physical demand, the ratio of stocks to cancelled warrants -- the metal tagged for removal from warehouses -- has fallen near 3 per cent, the lowest levels since April 2010. Aluminium stocks rose 1,125 tonnes to within reach of a record of around 4.6 million tonnes. The metal closed at $2,537 a tonne, from $2,546 at the close on Wednesday. Zinc was at $2,448 a tonne from $2,458 at the close. Tin closed at $31,500 a tonne from $31,255, while nickel was at $27,875 a tonne from $28,375. Lead was at $2,510 a tonne from $2,250 at the close on Wednesday. -Reuters
Gold recovers, Egypt balances rising dollar LONDON: Gold edged higher on Thursday as speculation Egyptian President Hosni Mubarak was to step down imminently arrested early losses in the metal, but prices remained under pressure from the firmer dollar and sharper risk appetite. Spot gold was bid at $1,364.20 an ounce at 1632 GMT, against $1,362.89 late in New York on Wednesday. US gold futures for April delivery was off 60 cents at
$1,364.90. The metal earlier slipped as low as $1,350.25 an ounce as the dollar firmed and after upbeat US jobs data reinforced investor optimism over the outlook for growth, eroding some appetite for perceived safe-havens. It later pared losses among heavy speculation Mubarak was set to step down as early as tonight after days of protests in Egypt against his rule. "Mubarak is another reason to cover shorts," said Afshin Nabavi, head of trading at MKS Finance in Geneva. The gold price has fluctuated
between $1,340 and $1,370 this week, awaiting fresh direction, while Asian consumer buying has been light following the Lunar New Year holidays. While there are currently few incentives to buy gold, given improving appetite for higher risk assets and rising bond yields, few investors seem prepared to sell heavily. The world's largest gold exchange-traded fund, New York's SPDR Gold Trust,
reported a small outflow on Wednesday, signalling that investment is still lacklustre. In India, the world's largest consumer of physical gold, demand remained soft as buyers awaited fresh price falls. Dealers said suppliers hiked premiums charged on London prices to $2.20-$2.50 as availability was limited by supply issues after heavy snowfalls in refining areas. Silver was bid at $30.22 an ounce against $30.17, up 0.2 per cent on the day. Platinum was at $1,839.25 an ounce against $1,853.49, while palladium was at $822.22 against $826.47. -Reuters
Cocoa jumps to 1-yr peak; Sugar up LONDON: Cocoa futures on ICE leapt to their highest in over a year on Thursday as investors scrambled to cover short positions after the March/May spread tightened, dealers said. Sugar surged in volatile trading but remained within its recent range, with investors eyeing developments in India. Arabicas nudged lower as weak global equity markets and a firmer dollar led some investors to close out positions following Wednesday's 13-1/2-year peak. ICE cocoa futures for May jumped 4.5 per cent to $3,431 a tonne, the highest level for the second position since late January 2010, before retreating to $3,375 a tonne at 1556 GMT, which was still up $92 or 2.8 per cent. Backwardation on ICE, with the March position spiking to as high as $24 above May, versus a small discount during the prior session, suggests renewed concerns about supply tightness. London's May cocoa contract rose 48 pounds or 2.3 per cent to 2,182 pounds per tonne, still below its six-month peak of 2,269 pounds a tonne. Sugar climbed as investors continued to fret about exports from India, the world's No. 2 producer after Brazil, but remained in a tight range, below recent peaks and lows. The key March raw sugar contract on ICE rose 1.18 cent or 3.8 per cent to 32.68 cents a lb at 1556 GMT after jumping as much as 5 per cent on investment fund buying. London's March white sugar futures were up $28.50 or 3.7 per cent to $790.00 per tonne, below the record high of $857.00. In coffee, ICE futures were slightly down in choppy trading. New York's benchmark May arabicas eased 0.15 cents or 0.1 per cent to $2.5550 per lb at 1607 GMT after touching $2.56 a lb on Wednesday, their highest since June 1997. Liffe May robusta coffee was largely steady at $2,253 per tonne, below its 2-1/4-year high of $2,287. -Reuters
Tokyo rubber hits new high on firm oil BANGKOK: Tokyo rubber futures jumped to a new record on Thursday, on the back of speculative buying due to concerns of tight supply and firmer oil prices. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose 9.9 yen to settle at 513.9 yen ($6.25) per kg. It rose as high as 515.0 yen per kg, its highest ever. US crude oil futures inched higher on Thursday amid ongoing concerns about unrest in Egypt, while a weaker dollar helped Brent rise above $102 a barrel. Dealers said TOCOM prices were expected to rise further on Friday on the back of strong demand and thin supplies as dry weather cuts supply in producing countries. TOCOM rubber was expected to rise further to test new resistance of 520 yen per kg, with the 500 level being seen as a strong psychological support level, they said. -Reuters
National Commodity Exchange Ltd Trading Summary Date
Commodity
10-Feb-2011 CRUDE100 10-Feb-2011 CRUDE100 10-Feb-2011 CRUDE100 10-Feb-2011 SILVER - SL500 10-Feb-2011 SILVER - SL500 10-Feb-2011 GOLD 01oz 10-Feb-2011 GOLD 01oz 10-Feb-2011 GOLD 01oz 10-Feb-2011 GOLD 100oz 10-Feb-2011 GOLD 100oz 10-Feb-2011 GOLD 100oz 10-Feb-2011 GOLD 10-Feb-2011 GOLD 10-Feb-2011 GOLD 10-Feb-2011 KILOGOLD 10-Feb-2011 KILOGOLD 10-Feb-2011 TOLAGOLD50 10-Feb-2011 TOLAGOLD100 10-Feb-2011 MINIGOLD 10-Feb-2011 MINIGOLD 10-Feb-2011 MINIGOLD 10-Feb-2011 MINIGOLD 10-Feb-2011 MINIGOLD 10-Feb-2011 TOLAGOLD 10-Feb-2011 TOLAGOLD 10-Feb-2011 TOLAGOLD 10-Feb-2011 TOLAGOLD 10-Feb-2011 TOLAGOLD 10-Feb-2011 IRRI6W 10-Feb-2011 RICEIRRI - 6 10-Feb-2011 RBD PALMOLEIN 10-Feb-2011 KIBOR3M 10-Feb-2011 KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 10FE11 FE11 FE11 11-Mar 11-Jun
US$ 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
87.44 90.58 93.31 30.35 30.30 1365.40 1365.80 1366.70 1365.10 1364.00 1366.30 37380.00 37602.00 37500.00 37566.00 37574.00 43816.00 43816.00 38648.00 38689.00 38703.00 38621.00 38635.00 44415.00 44462.00 44478.00 44384.00 44994.00 3171.00 3177.00 5512.00 86.18 85.56
87.89 91.00 93.31 30.46 30.30 1367.00 1367.10 1368.00 1365.10 1367.10 1366.30 37593.00 37602.00 37618.00 37566.00 37574.00 43816.00 43816.00 38648.00 38689.00 38703.00 38621.00 38635.00 44415.00 44462.00 44478.00 44384.00 44994.00 3190.00 3196.00 5512.00 86.20 85.56
86.00 89.35 92.96 29.71 29.81 1355.80 1356.00 1356.50 1357.90 1356.40 1358.40 37380.00 37302.00 37425.00 37266.00 37275.00 43466.00 43466.00 38331.00 38372.00 38385.00 38399.00 38318.00 44046.00 44093.00 44109.00 44124.00 44031.00 3171.00 3177.00 5510.00 86.18 85.56
86.53 89.87 92.96 29.81 29.81 1357.90 1358.40 1359.10 1357.90 1358.40 1358.40 37294.00 37302.00 37319.00 37266.00 37275.00 43466.00 43466.00 38331.00 38372.00 38385.00 38399.00 38318.00 44046.00 44093.00 44109.00 44124.00 44031.00 3190.00 3196.00 5510.00 86.20 85.56
Traded Volume in lots 372 85 195 1,094 1,151 807 35 1 3 10 -
Previous Settlement Price 86.83 90.20 93.28 30.13 30.14 1362.10 1362.50 1363.20 1362.10 1362.50 1363.20 37483.00 37492.00 37508.00 37455.00 37464.00 43687.00 43687.00 38524.00 38564.00 38578.00 38592.00 38510.00 44270.00 44317.00 44332.00 44348.00 44254.00 3171.00 3177.00 5512.00 86.18 85.56
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 86.53 214 89.87 44 92.96 3 29.81 43 29.81 1 1357.90 1,450 1358.40 1,507 1359.10 703 1357.90 1358.40 5 1359.10 37294.00 14 37302.00 1 37319.00 80 37266.00 1 37275.00 43466.00 43466.00 38331.00 38372.00 38385.00 38399.00 38318.00 44046.00 2 44093.00 11 44109.00 44124.00 44031.00 43 3190.00 3196.00 5510.00 86.20 85.56 -
People prepare to write on a giant cricket bat display in Dhaka
10
Friday, February 11, 2011
Junaid wants Sachin wicket during WC KARACHI: After earning a surprise call to the World Cup squad, rookie Pakistan pacer Junaid Khan cannot stop thinking about bowling to Indian batting legend Sachin Tendulkar and getting him out. The 21-year old left-arm pacer was drafted into the squad after fitness issues ruled talented Sohail Tanvir out of the tournament. "Just getting a chance to play in the World Cup is a dream come true for me. But if we get to play against India in the World Cup it would be a blast to bowl at Tendulkar and get him out. It is an ambition for me," Junaid said. Junaid, who has represented the national team at the under19 and A levels, said he has always admired Tendulkar for his batting exploits. "For any young bowler I think Tendulkar's wicket is a big prize," he told private TV channel. The youngster said he had recently toured Sri Lanka with the Pakistan A team and was familiar with the conditions which will help him if gets to play some matches there. "I am very fit having played lot of domestic cricket this season and the confidence is high so getting a chance to play in the World Cup is a big bonus for me," he said. Junaid, who has taken 167 wickets in 35 first class games for Abbotabad, said he was thankful to the cricket board and national selectors for posing confidence in him. "God has been kind to me and I know this is a big opportunity. I don't know if I will get a chance to play but I will do my best to impress the team management that I should be given a chance and I will not let them down." The southpaw is one of the finest fast bowling prospects in Pakistan and has impressed everyone with his pace and fire. He joins left arm pacers, Shoaib Akhtar, Umar Gul and Wahab Riaz in the Pakistan bowling line up for the World Cup.-Agencies
Shahzad, Shahid meet in snooker final today KARACHI: Pakistan top cueist Imran Shahzad defeated Mohammad Sajjad 6-2 in the semi-final of the 36th National Snooker Championship 2011 being held at the Karachi Gymkhana while Mohammad Shahid outplayed Sultan Mohammad 6-3 to book a place in today’s final against Shahzad. In the first match of the day, Shahzad took an early lead, winning the first two frames 78-6 and 85-46. However, Sajjad retaliated in the third, winning it 80-0 with a break of 70 following which Shahzad took the fourth frame 72-48. Although Sajjad hit back in the next frame with 88-16, Shahzad managed to consolidate his lead in the sixth frame 62-17 and sealed the win with 75-21, 63-24 wins in the seventh and eighth frames. “It was a great match and proved why Shahzad is the top player in the country,” former Pakistan number one and current Asian number two cueist Sajjad told The Express Tribune. “For me the fourth frame was crucial as I started out with a 47-0 lead but then Shahzad struck the break of 65 and I couldn’t recover.”
Afridi wants Pakistan-India World Cup final
Afridi upbeat on Pak WC fate 'Ex-cricketers should do their homework before giving statements' Staff Reporter KARACHI: Pakistan captain Shahid Afridi on Thursday said a possible duel with India in the World Cup final would be ideal for the tournament and a boost to international cricket, drawing billions of viewers. Afridi said a possible duel with India in the World Cup final would be ideal for the tournament and a boost to international cricket, drawing billions of viewers. "There is a possibility that Pakistan and India play the final of the World Cup and if that happens it would be ideal for the World Cup, one-day format and for the game of cricket," Afridi said. Arch-rivals Pakistan and India are in separate groups of the 14-team World Cup, jointly hosted by India, Sri Lanka and Bangladesh and starts on February 19. The top four teams from each of the two groups meet in the quarterfinal and Afridi hopes both India and Pakistan avoid each other until the April 2 final. "Both India and Pakistan have to play above their potential to reach the final but it would be ideal for the billions of people around the world," said Afridi, who will be playing his fourth World Cup. Pakistan have not beaten India in the four matches they have played at World Cups. India beat Pakistan by 39 runs in a highly charged quarterfinal at Bangalore in the 1996 World Cup. The two have not played each other outside tournaments since the 2008 terror attacks on Mumbai, which claimed 166 lives and caused a diplomatic rift between New Delhi and Islamabad. However the pair met in the Champions Trophy held in South Africa in 2009, where
Pakistan beat India - the last international match between them. Afridi said beating their archrivals in the Mumbai final would be the "icing on the cake." He added that former cricketers should first do their homework and review performances of players before giving their analysis on the national team’s possibility of winning the world cup. Speaking at a press conference alongside Coach Waqar Younis and Team Manager Intikhab Alam, Afridi said that the morale of the team is high and former captains should support them. He said that other than Pakistan, it would be difficult to term any team as a favorite as India, Sri Lanka, South Africa and Australia have all been performing very well. Coach Waqar Younis said that there are no rifts among players or the management and Sohail Tanveer was taken out of the squad due to his lack of fitness. He added that he has not witnessed Junaid Khan’s performance himself as much, but he has heard a lot about him from other people. Afridi said beating their archrivals in the Mumbai final would be the “icing on the cake.” “We would love to beat India in India and in a World Cup match because we have never done this before and this could be a great motivation,” said Afridi. Playing down any possible threat from Hindu fundamentalists during the World Cup, Afridi said: “People of both the nations love cricket and I don’t see any threat. “But yes, if the atmosphere is highly charged it would definitely spur both the teams on and bring out the best in the players from both the sides.”
Pakistan restrict Thailand to 2-1 LAHORE: Three first half goals saw Pakistan U21 put up positive display as they restricted Thailand U21 team to only 2-1 win. Both the teams will open their campaign in 2012 London Olympics Qualifiers on 23 February 2011 with players shall be born on or after 1 January 1989. Pakistan will face Malaysia and Thailand will take on Palestine. Other matches on the opening day of Olympics Asian Qualifying will be UAE vs Sri Lanka, Jordan vs Chinese Taipei ,Yemen vs Singapore,
Kuwait vs Bangladesh, India vs Myanmar ,Oman vs Tajikistan ,Indonesia vs Turkmenistan ,Iran vs Kyrgyzstan , Hong Kong vs Maldives. The return leg of all eleven matches will be played on 9 March 2011 with same age restriction. Asian Cup 2004 venue Rajamangala National Stadium. also known as Hua Mark Indoor Stadium, hosted the Thailand-Pakistan U21 enounter last night and the same arena wll be used for Thailand-Palestine Olympic tie next week.-Online
LAHORE: National cricket team Coach Waqar Younis, Captain Shahid Afridi and Manager Intikhab Alam hold a joint press conference at Gaddafi Stadium. -Online
Messi leads Argentina to 2-1 win over Portugal Monitoring Desk GENEVA: Lionel Messi scored a 90th-minute penalty to give Argentina a 2-1 win over Cristiano Ronaldo's Portugal in the first international meeting of the two players on Wednesday. Two-time world player of the year Messi also was the dominating early influence and set up Angel di Maria to give Argentina a 14th-minute lead. Ronaldo levelled in the 21st to get his first career goal in a match against Messi. The Portugal captain, who preceded Messi as the world's best player in 2008, also went close twice with second-half shots. Portugal striker Hugo Almeida was guilty of a glaring miss from two yards (meters) in the 56th. Argentina substitute Javier Pastore struck the crossbar with an 86th-minute header. The neutral Stade de Geneve felt like a home game for Portugal thanks to its large expatriate community in the French-speaking part of Switzerland. Messi was therefore subjected to whistles and jeers when he shimmied past a Ronaldo challenge in the 2nd minute. The tiny Argentine had the first effort at goal in the 7th, heading wide from eight yards (meters). Messi then sent Di Maria clear to give Argentina the lead. The two-time defending world player of the year danced over a wild tackle by Raul Meireles before chipping an angled pass for Di Maria. The Real Madrid winger deftly guided his shot over the advancing goalkeeper Eduardo. Argentina goalkeeper Sergio Romero dealt uncertainly with a cross in the 19th minute, and was beaten in Portugal's next attack. Ronaldo moved decisively on to Hugo Almeida's flicked header, making Romero seem hesitant as he slid in to strike a powerful rising shot into the net from six yards.
England series win augurs well SYDNEY: Australian captain Ricky Ponting said the emphatic ODI series win against England has given them hope as the defending champions left for India on Thursday morning, eyeing to win their fourth successive and fifth World Cup title. Ponting has been sidelined since the Boxing Day Test against England due to a broken finger, but he said he was feeling good after his time away from the game and was pleased with the team's 6-1 win over England in his absence. Ponting said he is feeling fresh after the break and raring to lead the side, which is going through its most difficult time. "I am feeling fresh after a month on the sidelines. I am obviously looking forward to getting back into proper training and more importantly back into international cricket," Ponting told reporters before flying out of Sydney. "It's been a while between games for me and
sitting back watching the guys play has been pretty difficult, but to see them play as well as they have has been very satisfying." The Australians have not lost a World Cup match since 1999. Ponting led the team to World Cup victories in the previous two editions. Australia are still the top ODI side though they are no longer counted among the favourites after their recent decline. Ponting, however, said the team is in good shape after their win against England. "I am very proud of what they did and we are in good shape at the moment. "The last few results were really satisfying against a pretty good English team," Ponting said. "The most satisfying thing for me was that when we were down and out and looked like getting beaten we found a way to win games, which I think has been a trademark of good Australian teams for a long time now." -Reuters
Lee warms up to head Aussie attack SYDNEY: Brett Lee has said that he is looking forward to being the spearhead of the Australia attack in what will be his second, and most probably final, World Cup. Lee is the most experienced bowler in the Australia squad, and has taken 24 wickets in 21 games at an average of 31.54 in India, Sri Lanka and Bangladesh, the co-hosts of the tournament. "We all have our roles to play and my role is an attacking one," Lee told ESPNcricinfo. I want to be the enforcer of the group and be the leader of the attack. I will look to offer as much knowledge to the bowl-
ing group as possible." The Australia attack is composed mostly of bowlers who are prone to leak a few runs in their search for wickets, such as Mitchell Johnson, Shaun Tait and Jason Krejza. But Lee said that an attacking approach was essential on the subcontinent despite the wickets there not being conducive to bowlers. "It's a terrifically well balanced squad and with Krejza back in the squad it adds a lot of variation and gives us all the options. I am really confident with the bowling group. Patience and variation are crucial, but you still have got to
attack even though the pitches are slow and low. There is the opportunity to reverse the ball which does not always happen here in Australia. In India, the pitches seem to scuff the ball quicker and allow the quicks to reverse the ball." Lee used these attributes to good effect during the inaugural Champions League Twenty20 held in India in 2009, helping New South Wales to the title with eight wickets at an impressive economy rate of 3.76. "It worked well for me in the Champions League, and it's something I am keen to get right in ODIs in the sub-continent." -Reuters
Indian hopes pinned on Dhoni NEW DEHLI: When MS Dhoni opened the bowling with a spinner in his first Test as captain in 2008, the message was clear — he would not be a prisoner to convention. Following hunches produced the desired results as Harbhajan Singh responded with four second-innings wickets to help India level a three-match series against South Africa on an underprepared, spinner-friendly Kanpur track. “I prefer to go by instinct,” said Dhoni after leading his team to a tense one-run victory over South Africa in the second One-Day International (ODI) in Johannesburg last month. Dhoni was the first wicket-keeper to lead India in Tests, but had already proved his credentials
as captain when his young side triumphed in the inaugural World Twenty20 in South Africa in 2007. His stock rose instantly as he was named ODI captain the same year, but at a time when India were trying to revive their fortunes in the 50-over game after the disastrous 2007 World Cup campaign in the Caribbean. India bowed out in the first round after losing their opening match against Bangladesh in Trinidad, with former Australian batsman Greg Chappell as coach and Rahul Dravid as captain. The national selectors plumped for Dhoni after record-breaking batsman Sachin Tendulkar refused to lead and, in turn, recommended the youngster for the job.-Reuters
Sohial set to spellbind spectators KARACHI: He has been dropped from Pakistan's World Cup squad due to injury but pacer Sohail Tanvir insists he is fit to play and should have been retained in the side for the quadrennial event starting February 19 in the sub-continent. The Pakistan cricket Board on Wednesday dropped the unorthodox bowler from the 15member squad on the recommendations of the national team management, a medical panel and the selection committee and replaced him with
rookie left arm pacer Junaid Khan. Tanvir, who has so far claimed 48 wickets in 36 ODIs, said, "I don't know why they dropped me and the selectors should tell me the reason because I was fit and getting better in bowling and fielding. "It is hugely disappointing to be dropped from a major event like the World Cup at the last moment," Tanvir told The Express. Tanvir was dropped after playing in five of the six one-day internationals in New Zealand. Justifying its decision to omit Tanvir, the PCB
said the medical panel had examined the 26year-old bowler and decided he was not 100 percent fit to play at the top level. "He still requires time to make a complete recovery from his knee problem for which he had an operation sometime back," PCB said in a statement. Chief selector, Mohsin Khan said that it was on the recommendations of the team management that the pacer was dropped from the squad. "The team management spoke to the board Chairman expressing its concerns over
Tanvir's fitness. Subsequently the medical panel examined him and declared he was not fully fit. "The team management felt that Tanvir was struggling while fielding because of his knee problem. "Junaid Khan was called up because of his fine performances in domestic cricket," Mohsin revealed. Meanwhile former test batsman, Basit Ali cautioned that Junaid was too raw and not ready for the international cricket. Agencies
BoE holds OPEC pumps more fire on rates crude as demand butbyriseMayseen to hit record LONDON: OPEC reported it has boosted its oil output to a two-year high, encouraged by rising global demand and prices above $100 a barrel, while the industrialised world's energy adviser said the increase may limit price gains. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries said its January production rose by 400,000 barrels per day (bpd) to 29.72 million bpd, the highest since December 2008 when the group announced a record production cut. The rally in oil prices has caused concern in consuming countries about the impact of rising energy costs on inflation and economic growth. OPEC, led by Saudi Arabia, is the only immediate source of extra oil should the world's fuel needs surpass expectations, as they did in 2010. The International Energy Agency (IEA), an adviser to 28 industrialised countries, said in its monthly report the extra OPEC supplies should help to limit a further spike in oil prices even though global demand is expected to hit a record this year. "We are seeing a little more oil from OPEC as they're seeing the same indicators on the demand side, especially in Asia, that we are. A flexible attitude from OPEC is a good thing," David Fyfe, head of the IEA's oil industry and markets division, said in an interview.
"The fact that prices have gone up from around $75 in September to $95 a barrel and above is because of a sharp tightening in the physical market," he said. "It's not the only thing driving prices but some of the impetus comes from that market tightening. We saw very strong 2010 oil demand growth and we're feeding that through into 2011, he said. Both the IEA and OPEC said the world would use more oil this year than previously expected. The IEA said global consumption would exceed 90 million bpd in late 2011 for the first time. Oil prices traded lower on Thursday, with Brent crude falling almost $1 to around $101. MORE FROM IRAQ The higher production figure from OPEC is a de-facto acknowledgement of a rise in OPEC supplies reported by the IEA a month ago that was initially challenged by the producer group. The IEA was founded in 1973-1974 as a counterweight to OPEC after the Arab oil embargo, which sent prices soaring. The two have clashed this year over the causes of the oil price rally and the need for OPEC to pump more oil. Last month, the IEA said Saudi Arabia had stealthily boosted output to cool the market, but OPEC's Secretary General Abdullah al-Badri said Saudi Arabia had told OPEC it had not opened its
taps. On Thursday, OPEC said the biggest contribution to the increase in supply last month came from Iraq, where foreign oil companies are working to expand output. It also said Saudi Arabia and the United Arab Emirates raised production. The IEA said Saudi Arabia's oil output was flat in January at 8.6 million bpd, after rising last year, with Angola, Libya, the UAE and Venezuela slightly raising production and Iran and Nigeria cutting output. OPEC has not changed its official production target since the December 2008 cut in the aftermath of the financial crisis. It is not scheduled to meet to review output policy until June. The latest set of production figures show, however, that OPEC members are continuing a trend begun in mid2009 to informally raise output in response to higher demand and prices. OPEC's production figures are based on secondary sources and are the closest thing OPEC provides to an official estimate of supplies. Many OPEC countries do not disclose their production on a timely basis. The secondary sources include consultants and news organisations, who use methods such as tracking exports and estimating domestic consumption to work out how much oil OPEC is pumping.Reuters
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"The fact is that we did notify Pakistan of this diplomat's arrival and his status. And we do not believe that there's any ambiguity about that," Crowley said. "The reports that we have suspended all contacts with the Pakistani government are not true. We continue to have highlevel contacts with both in Pakistan and here to be able to express to them the importance that we attach to resolving this issue and this case." Crowley said. "And we'll use every opportunity in our engagement with the Pakistani government to reiterate that position," he said. -Agencies
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an increase of 1.5 mbd.It estimated global oil demand rose by 2.8 mbd to 87.8 mbd in 2010. The IEA warned that higher fuel prices, which have topped $100 a barrel recently for the first time since September 2008 on concerns over political instability in the Middle East, especially Egypt, could dent the economy.But OPEC played down much fears in its report. Even before the crisis, those routes were not being utilized at full capacity, mainly due to the ample tanker availability on other routes, the oil cartel argued. -APP
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The three-day strike by several unions in the PIA has crippled the functioning of the airline with several dozen international and domestic flights being cancelled or rescheduled. Passengers are the worst sufferers, though the top government leadership has failed to take any issue-resolving initiative.-Online
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Iran and North Korea, seen as major proliferation risks by the West, are believed to have benefited from a nuclear smugglingring run by Pakistani scientist Abdul Qadeer Khan. ISIS published images which it said showed a building relatively early in its construction at Khushab, about 170 km (110 miles) southwest of Islamabad. It added that "the footprint for the building is similarly sized to that of the second and third Khushab reactors." In imagery from late 2009, vapor could be seen rising from the second reactor's cooling tower fan blades, indicating it was at least at some stage of initial operation, ISIS said. "Vapor can again be seen rising from some of the second reactor's cooling towers in the January 15, 2011 imagery, though none can be seen yet over the third reactor's cooling towers."In 1998, Pakistan commissioned the first Khushab research reactor, which is capable of yielding 10-15 kg (22 to 33 lb) of weapons-grade plutonium annually. Pakistan, which embarked on a nuclear weapon program in the early 1970s, conducted nuclear tests in May 1998, shortly after India conducted its own weapon tests. Like India, Pakistan is not a signatory to the nuclear Non-Proliferation Treaty. -Reuters
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He said that orientation of census district officers has been arranged at provincial and divisional level all over the country adding that training of enumerators and supervisory, monitoring staff will be arranged at tehsil level in February and March. Secretary Statistic Division Asif Bajwa briefed about planning process, scope, methodology of census. -APP
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Justice Raja Fayyaz Ahmed and Justice Asif Saeed Khosa, seized with pleas of Leader of Opposition in the National Assembly Chaudhry Nisar Ali Khan and Shahid Orakzai. He said the notification was issued on February 9 and the appointment was under Section 6 of the NAO and not like the previous one. To bench's query, he said the decision was already taken to terminate the earlier notification. He told the bench not to become so hypertechnical as something substantial had happened. Justice Javed Iqbal raised the question about 'consultation' process to which the counsel replied that words in law were 'in consultation' whereas for judicial appointment the word was 'after consultation with the Chief Justice'. Justice Asif Saeed Khan Khosa questioned whether the fresh notification meant that earlier appointment of chairman was regarded illegal. Pirzada replied that it was a continuity of the same process and said "what has been done cannot be undone."
He said the consequences of the issue should not 'stigmatize' Deedar Hussain Shah. He told Justice Khosa that he could not refer to other issues and if the bench wanted he would argue the case fully. After a volley of questions, the counsel said that the issuance of notification was not the job of President as it was an administrative act as the decision had been taken to terminate the earlier one to make the appointment. Shahid Orakzai, a petitioner, appeared and questioned how Deedar's three-month previous service would be adjusted? The bench adjourned hearing till February 28 after observing in its order that it would go through the notification and then would decide about other related issues which required determination. Chaudhry Nisar Ali Khan in his plea had challenged the appointment of Justice (Retd) Deedar by stating that parameters of Section 6 of the National Accountability Ordinance (NAO) was not adhered to because it was made despite his opposition on the grounds that the chairman had long political affiliations with the ruling party and twice served as member Sindh Assembly. -APP
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in two phases. He said that the Population and Housing data, as you know, plays a vital role in public administration and policy formulation. The results of the population census are used as a critical reference to ensure equity in distribution of national resources, government services and political representation. He further said that there is a great need to manifest the necessity of accurate census information amongst the people living in the smallest villages to the largest cities. Doing so is central to working out holistic plans for economic development. In this way people can be apprised of characteristics and utility of the census. Such a campaign is essential for rural areas so that they are allocated their due share in the distribution of national resources. He said that I hope the methodology being used in the next census has been improved in the light of experiences gained by various countries and the same have duly been incorporated. He said that he would urge the Population Census Organization to provide detailed and credible data on women to help government formulate pro-women policies. The women living in rural areas may find it difficult to answer certain questions related to fertility, mortality, education & economic activity. This aspect should be taken care of during planning the field enumeration activities. I would, therefore, recommend to the Organization to depute women as field staff to collect women-related data in all aspects. He said that the revolution in the field of information technology has changed the world landscape in numerous ways. The census methodology must be evolved in the light of new technologies to collect data on scientific lines. He said that I hope that the stakeholders would deliberate upon the subject with utmost seriousness and dedication and come up with effective strategies to improve the census plan. I assure you that the government would consider the recommendations of the workshop and make it part of the policy. PM Gilani thanked the participants with the hope that the census workshop will help the Population Census Organization to strengthen its census plan.
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had made false statement then as to why action had not been taken against him. FIA has started making efforts to arrest Hamid Saeed Kazmi and is conducing raids at various places after obtaining his arrest warrants from Islamabad magistrate. -Agencies
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to $3.55 billion from $3.53 billion, said the SBP. Analysts said the foreign exchange reserves rose to a record last week due to a rise in remittances from overseas Pakistanis. According to official data, remittances rose 17 per cent to $5.3 billion in the first six months of the fiscal year 2010/11. Foreign exchange reserves were boosted last month by more than $633 million after the United States provided military and logistical support to fight Islamist militancy.
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US jobless claims at 2-1/2-yr low, inventories up WASHINGTON: New US claims for jobless benefits dropped to a 2-1/2-year low last week, pointing to a firming undertone in the labor market as the economic recovery gathers momentum. Although the decline reported by the Labor Department on Thursday partially reflected the unwinding of a weather-related spike in late January, analysts said it was consistent with other indicators suggesting a strengthening labor market. Initial claims for state unemployment benefits fell 36,000 to a seasonally adjusted 383,000, the lowest since early July 2008, the Labor Department said. Economists had forecast claims slipping to 410,000. "Anecdotally, we do hear that
there is some improvement on the jobs front and this is another indication of that," said Tim Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills, New York. The data came on the heels of Friday's report showing the economy created a paltry 36,000 jobs in January, largely blamed on severe snow storms that slammed large parts of the country. Investors saw the claims report as yet more evidence that the economic growth pace was accelerating. Prices for safehaven US government bonds fell, while the dollar rose broadly. Stocks on Wall Street fell amid disappointing corporate earnings.
A separate report from the Commerce Department showed wholesale inventories rose 1 per cent to $430.5 billion, the highest since January 2009. The gain was greater than the 0.7 per cent increase forecast by economists. Last week's fall in initial claims took them below the 400,000 mark and economists say sustained declines would signal strong job growth. A Labor Department official said claims were still unwinding some of the weather effects that pushed up applications last month. The four-week moving average of unemployment claims -abetter measure of underlying trends - dropped 16,000 to 415,500 last week.-Reuters
LONDON: The Bank of England defied critics and kept interest rates at a record low on Thursday, judging the threat from rising inflation will prove temporary and that Britain's recovery remains in doubt. Inflation has jumped to almost twice the BoE's target and is still rising, but the economy faces headwinds from hefty public spending cuts and suffered a surprise contracted at the end of last year. Strategists had been unanimous in predicting rates would stay at 0.5 per cent -- where they have stood since March 2009 -- and there was little market reaction. However, the debate on the BoE's monetary policy comYoY to 10.2k units in 7MFY11. Pak Suzuki, Indus Motors and Honda Cars were the three companies mittee will have been heated that showed positive growth in their volumetric sales by 14 per cent, 9 per cent and 21 per cent, respecand investors remain contively. On the other hand, Dewan Farooq Motors witnessed 86 per cent decline in their sales volume. vinced that rates will rise before long. Money markets Continued from page 1 No #11 show a quarter-point rate rise is accuracy and radar avoidance features. It also incorporates the modern cruise missile technolfully priced in by May, with at ogy of Terrain Contour Matching (TERCOM) and Digital Scene Matching & Area Co-relation least one additional hike by the (DSMAC). The test was witnessed by Chairman Joint Chiefs of Staff Committee, General Khalid end of the year. Shamim Wynne, Director General Strategic Plans Division, Lieutenant General (Retired) Khalid By May, BoE policymakers Ahmed Kidwai, Commander Army Strategic Force Command Lieutenant General Jamil Haider, will have more information Chairman NESCOM Muhammad Irfan Burney, senior officers from the armed forces and strateabout how the economy weath- gic organisations, scientists and engineers. Chairman Joint Chiefs of Staff Committee reiterated ered the government's fiscal that the test will go a long-way in consolidating Pakistan's strategic deterrence capability, and tightening and whether a 0.5 further strengthening national security. Pakistan's resolve and commitment to continue its strateper cent contraction in the gic programme will remain paramount, he added. The successful test has also been warmly fourth quarter was largely appreciated by the President and Prime Minister of Pakistan, who have congratulated the scienrelated to unusually snowy tists and engineers on their outstanding success. -Online weather. Continued from page 1 James Knightley at ING said No #12 Thursday's policy deliberations is that we both agreed ... there is support for the process (on both sides)," the official said, adding would have been hard-fought. the new talks would not be called "composite dialogue". Indian Prime Minister Manmohan Singh "Despite our worries about has made efforts to entice Pakistan to peace talks, concerned about the legacy of his second term the economy there is clearly government. But such moves have little impact on voters at home who are more concerned about growing pressure on the BoE to inflation and corruption, and India these days looks more towards competing with China on economdo something to combat near- ic and security issues than its traditional rival Pakistan. On the other hand, Prime Minister Gilani term inflation fears," he said. expressed satisfaction over the progress made by Pakistan and India to resume full spectrum of diaThe BoE's decision to hold logue. Prime Minister also appreciated the vision of Prime Minister Dr Manmohan Singh for openfire will come as a relief to the ing of a new chapter in relations between the two countries, which he added, Pakistan fully reciprogovernment, which is hoping cates. Gilani made the remarks after the presentation of a report by Foreign Secretary Salman Bashir loose monetary policy will regarding talks with his Indian counterpart on the sidelines of the 33rd Session of SAARC Council cushion the blow from its fiscal of Ministers meeting at Thimpu, Bhutan. -Agencies tightening.-Reuters Continued from page 1
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International & Continuation
Friday, February 11, 2011
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sales showed a growth of 11.7 per cent YoY to 72.6k units, and LCV & Pickup segment sales registered an increase of 10.1 per cent
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Chairman Securities and Exchange Commission of Pakistan, Muhammad Ali, and Secretary Ministry of Privatization, Muhammad Ejaz Chaudhry.-NNI
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income registered a growth of 11 per cent and was reported at Rs6.2 billion. The provision charges of the bank decreased significantly by Rs3.7 billion YoY, mainly owing to a Rs2.7 billion decrease in provisions against loans and advances. Total assets were reported at Rs568 billion, increasing by 11 per cent from 2009. Gross advances increased by Rs4.4 billion while investments registered a significant increase of Rs46 billion with a major increase in T-bill exposure of 32 per cent YoY. On the liability side, deposit base of the bank increased significantly by 17 per cent and were reported at Rs431 billion while borrowings decreased by 42 per cent YoY.
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The benchmark has lost nearly 15 per cent this year as foreign funds withdrew $1.4 billion on concerns high inflation and rising interest rates will squeeze consumer spending in Asia's third largest economy. "It is going to stay weak for a while. Unless there is some stability on the political and policy front, we are not going to see a recovery," said Prasanth Prabhakaran, president of retail broking at IIFL. Food inflation eased in end January on moderating prices of fruits and vegetables but annual headline inflation in January is still expected to remain high. Investors are also bracing for sluggish economic data. Industrial output growth probably slumped to 2.0 per cent in December from a year earlier, mainly due to a high base a year ago, a Reuters poll showed. The data is due on Friday. However, analysts at Citigroup said the market correction offered an opportunity to buy stocks. "We probably appear a little brave maintaining our 22,000 December 2011 Sensex target, but believe the rewards outweigh the risks decisively from here," they wrote in a note on Wednesday.-Reuters
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industry in the country and added that through listing the credibility of the company gets enhanced and the company acquires wider exposure of its brand and operations. The representatives of PPMA also briefed about the pharmaceutical industry of Pakistan its potential and the role being played by the companies in the industry and also highlighted the problems being faced by it. They appreciated the initiative of the Exchange in providing a forum to discuss the issues of mutual concern and encourage their member companies to list on the Exchange.It was agreed to take joint initiatives to create awareness and encourage the member companies to avail the benefits through listing.
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lull. But the 1.7 per cent rise in December core orders was smaller than a median forecast for a 5.0 per cent increase, suggesting companies will increase spending only slowly with any economic recovery seen moderate. "Domestic investors such as life insurers could be selling on concerns about overheating after the index traded above 10,700 (on Wednesday)," said Kenichi Hirano, a strategist at Tachibana Securities. "While the index is above 10,600, further profit-taking is possible, but falls may not be significant." The Nikkei has gained about 15 per cent on foreign buying since November, benefiting in the last few weeks from a shift in focus to developed markets from emerging economies, which are seen as being at greater risk from inflation. Investors were seen taking profits after more than a week of gains on Wall Street, after comments by Federal Reserve Chairman Ben Bernanke reinforced the message that the world's largest economy is still weak and the Fed will keep supporting it through low rates and bond purchases. Analysts said that investors are cautiously awaiting the outcome of Chinese economic indicators early next week, including the country's consumer price index. "While Japanese stocks lack trading cues in their own market, the market's direction may be set by news from China," said Yumi Nishimura, a senior market analyst at Daiwa Securities Capital markets. The benchmark Nikkei ended the day down 0.1 per cent, or 12.18 points, at 10,605.65. The broader Topix added 0.3 per cent to 946.63.-Reuters
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0.27 per cent, at 1,317.29. The Nasdaq Composite Index dipped 8.75 points, or 0.31 per cent, at 2,780.32. Weighing on equities were higher yields for indebted European countries, which reflected concern over the lack of a concrete policy to tackle the euro zone's debt crisis. The US dollar gained versus the euro and pulled commodity prices lower. Disappointing earnings overseas also hurt sentiment as Credit Suisse missed profit expectations. The bank's US-traded shares dropped 7.3 per cent to $43.23. Soft drink and snacks maker PepsiCo Inc cut its full-year earnings growth target, sending its shares down 1.8 per cent to $63.29. In the latest from Egypt, Prime Minister Ahmed Shafiq told Britain's BBC that President Hosni Mubarak may step down and the situation in the country will be clarified soon, the British broadcaster said on Thursday.The chart for the S&P 500 index shows nearterm technical support at the 1,313 level, getting stronger near 1,300.-Reuters
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around now, but there are always going to be a couple of disappointments, but overall earnings have gone reasonably well, and there's no reason for the market to be depressed for a long period of time," said Peter Dixon, economist at Commerzbank. There was little reaction to the expected decision by the Bank of England to leave interest rates unchanged following its latest monetary policy committee meeting. Banks were the worst blue-chip performers, with HSBC down 1.1 per cent, hit by a profits disappointment from Swiss peer Credit Suisse.Renewed sovereign debt concerns also weighed on the lenders as Portugal's government bond spreads widened. Insurers retreated, too, with Prudential down 1.9 per cent, reversing gains made on Wednesday after a broker upgrade. Miners extended Wednesday's declines, reflecting weaker metals prices after China raised interest rates earlier in the week.Rio Tinto shed 2.4 per cent despite announcing a doubling in its dividend payout and promising to return $5 billion to shareholders by 2012. Energy stocks recovered from lows as media reported that Egypt's embattled president of 30 years might step down, helping to push crude higher. BP edged up 0.1 per cent.-Reuters
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Friday, February 11, 2011
Opec pumps up demand forecast
KARACHI: Activists of PALPA shouting slogans in support of their demands during a demonstration at Quaid-e-Azam International Airport.-Online
Malik says issues to be resolved in 2-3 days
Staff-strike adds to PIA travelers woes ISLAMABAD: Minister for Interior Rehman Malik said on Thursday that the issue of Pakistan International Airlines (PIA) was expected to be resolved within two to three days. Talking to media persons after having a meeting with PIA Joint Action Committee, the Minister said that he would submit the demands of committee to the Prime Minister Gilani. He said that the disruption of PIA flights due to the workers' strike has caused a loss of Rs400 million to the national exchequer. Rehman Malik said the talks with the joint action committee would
resume on Friday (today). Meanwhile, the protest of Pakistan International Airline (PIA) workers and employees across the country including Karachi, Lahore, Islamabad and other major cities continued on Thursday after the failure of talks with PIA action committee. In this connection several flights have been cancelled all over the country due to the strike and protest of PIA workers and employees, and hundreds passengers continued to suffer in this regard. According to media reports, hundred of PIA employees protested out side the Benazir International
Airport after being denied entry by Rangers, police and PIA staff here on Thursday and traffic remained suspended. The protesters warned to the authority that they would continue their protest till the approval of their demands. A number of international flights were suspended as strike and protests of PIA employees' unions grew intense on the third consecutive day during which vociferous demands were made for withdrawal of proposed agreement of the national flag carrier with Turkish Airline and removal of Managing Director PIA. See # 3 Page 11
Pak N-program under US radar
Axe to fall on contractual jobs soon
Think-tank says Isb building fourth N-reactor
ISLAMABAD: Establishment Division in light of Supreme Court of Pakistan's directives has forwarded the summary seeking termination of 15 officials including DG FIA and IG Sindh, to Prime Minister Syed Yousuf Raza Gilani here on Thursday. According to Secretary Establishment Division, Rauf Chaudhry Establishment Division has sent the summary of sacking of 15 officials including DG FIA Waseem Ahmad and IG Sindh Salahuddin Babar Khattak to Prime Minister Syed Yousuf Raza Gilani. It has been said in the summary that the officials are working on contract basis and their contract should be terminated. According to sources, Secretary Establishment Division Rauf Chaudhry has sent the report of termination of the following officials, to Supreme Court of Pakistan. It is noticeable to mention here that the Supreme Court has taken notice of the officials working in government departments on contract-basis, on which eight high officials of Punjab government resigned from their posts. -Online
VIENNA: Pakistan appears to be building a fourth military nuclear reactor, signaling its determination to produce more plutonium for atomic weapons, a US-based think-tank said. The report came as India and Pakistan agreed to resume peace talks that were broken off by New Delhi after the 2008 Mumbai attacks, a move that should help ease tensions in the volatile region. The nuclear-armed neighbors have been under pressure from the United States to reduce tension because their rivalry spills over into Afghanistan, complicating peace efforts there. The Institute for Science and International Security (ISIS), a thinktank specialising in nuclear proliferation issues, said it had obtained commercial satellite images from mid-January. They showed "what appears to be a fourth reactor under construction at Pakistan's Khushab nuclear site," ISIS experts David Albright and Paul
Brannan said in the Feb 9 report. "Pakistan is determined to produce considerably more plutonium for nuclear weapons," they wrote. Pakistan's mission to the Viennabased International Atomic Energy Agency (IAEA), the UN nuclear watchdog, was not immediately available for comment. Pakistan has made clear its opposition to global talks to ban future production of nuclear bomb-making material, arguing that existing stocks of plutonium and enriched uranium should be included to counter India's advantage. India is believed to hold about 100 warheads and Pakistan 70 to 80, according to the Washington-based Arms Control Association. Some analysts say Pakistan's nuclear arsenal and stockpile of weaponsgrade material pose a risk in the region because of internal security threats from the Taliban and al Qaeda. See # 4 Page 11
New technique to be used for processing info: Shaikh
6th nosecount begins in Apr ISLAMABAD: Federal Minister for Finance Dr Abdul Hafeez Shaikh said Thursday that latest technology would be used for compilation and processing of information which would be gathered during 6th national census, added it would commence from April this year. Addressing the seminar on 'Census Pakistan 2011', the minister said population census is an important national activity undertaken once in a decade for better socioeconomic planning and development. He said that successful implementation of census plan is only possible with close coordination and active support of all federal government ministries/ departments as well as the provincial governments and district authorities. Dr Hafeez said that members of the Census Advisory Committee, experts from various fields as well as academia have been invited to the seminar. Meetings of the Census Advisory
Committee were held wherein various issues of census planning including census methodology, census cartography and mapping, topics of information to be collected and questionnaire design were discussed and agreed, he added. He said in light of recommendations of the Advisory Committee and expert groups, census questionnaires and census plan were finalised. The minister said that Population Census Organization have completed preparations to start House Listing Operation through out the country from April 5 this year. Shaikh said maps have been updated with the help of Revenue Departments in rural areas and Local Government and educational staff in urban areas after imparting proper training to them for this job. The Minister said these maps have been further verified through Google Earth to ensure coverage of all settlements. See # 5 Page 11
VIENNA: The Opec oil cartel raised Thursday its 2011 global oil demand growth estimate in view of cold winter weather and a "sturdy" economic outlook, particularly for the United States and China. The Organization of Petroleum Exporting Countries said it was pencilling in world oil demand growth of 1.4 million barrels per day (bpd), or 1.62 percent, to 87.74 million bpd for this year, compared with 1.23 percent previously. "Bitter winter has been hammering most of the OECD (Organisation for Economic Cooperation and Development) region since last November leading to a noticeable increase in energy usage," OPEC said in its latest monthly bulletin. "Winter petroleum product consumption increased, leading to an adjustment in the total world oil demand forecast not only in 2010, but in 2011 as well." Furthermore, "sturdier industrial activity within the US and China, ignited by stimulus plans and government incentives, boosted demand," it said. Earlier, the International Energy Agency -- the energy policy and monitoring arm of the 34-member OECD -- predicted that oil demand was expected to grow in 2011 despite the pace of the global economic recovery tapering off. After taking into account the latest economic forecasts from the International Monetary Fund, the IEA said global oil product demand should reach 89.3 million barrels per day (mbd) See # 2 Page 11
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Visas issued after Isb approval: Pak envoy
Isb stamps US visas, not me: Haqqani WASHINGTON: Pakistan ambassador to US Husain Haqqani, admitting that relations between Pakistan and US are strained, has said that embassy never issued any visas without an approval from Foreign Office, Islamabad. Addressing a press conference in Washington, the ambassador for the first time talking on the Raymond Davis issue said that sentiments of the Pakistani people on this issue have been conveyed to the US and we have told them that an air of tension is being felt in our relations with the US. He said that those elements should accept their responsibility due to which this situation has been created. Husain Haqqani, hinting that Pakistani government would not release Raymond Davis on the pressure of US, said in friendship lot of incidents happens; sometimes our concerns are not addressed and sometimes we can't accede to demands of US. When Haqqani was asked could this tension have affect on the bilateral relations between the two countries, he gave an unclear response and said that as situation changes we will let you know. In response to a question he said that there has been no increase in issuance of visas to US administration officials since 2007. He said that Pakistani embassy in US had issued visa to Raymond Davis for three months only in 2009 and these visas expired in 2009. An extension in his visa was made by the Foreign Office. When asked what type of visa Davis was issued, he said that we gave him an official work-visa and it is not the responsibility of the embassy to determine diplomatic sta-
tus in fact it is the duty of Foreign office. He said that the embassy never issued any visas to US officials without the approval of Islamabad. He said that the matter of Davis is subjudice in the court and the Foreign office is handling the matter. On the flip side, United States has indicated that it could indeed cancel a highlevel meeting involving Pakistan here amid a diplomatic row over continued detention of a US official who shot dead two men in Lahore. "We want to have a productive meeting. If there's a reason why we don't think the meeting will be productive we're prepared to make adjustments," State Department spokesman P J Crowley told reporters. "If we do make those decisions, we'll let you know," he said while insisting that reports about US suspending all contacts with Pakistan were "not true." Crowley was responding to a Wall Street Journal report from Islamabad that the US had threatened to cancel the ministerial level trilateral US-Afghanistan-Pakistan meeting scheduled for Feb 23-25 in Washington. "Planning is continuing for the trilateral meeting at the end of this month. It is currently scheduled to be at the ministerial level. If we make any changes in that, we'll let you know," he said. Crowley also repeated the US demand for the release of Raymond Davis, a US government employee who was arrested on January 27 after shooting two Pakistanis. A third Pakistani was run over and killed by a US consulate vehicle that had come to assist Davis, according to police. See # 1 Page 11
SC issues new notice to NAB head ISLAMABAD: The counsel for Federation on Thursday apprised the Supreme Court that a new notification superseding the earlier one regarding appointment of Chairman National Accountability Bureau (NAB) had been issued after the Prime Minister advised the President in terms of Section 6 of the National Accountability Ordinance 1999 (NAO) for making Justice (Retd) Deedar Hussain Shah its chairman. Abdul Hafeez Pirzada, counsel for Federation, appeared before a four-member bench comprising Justice Javed Iqbal, Justice Tassadduq Hussain Jillani See # 6 Page 11
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