International Karachi, Wednesday, January 12, 2011, Safar-ul-Muzaffar 7, Price Rs12 Pages 12
PPP-govt fails to provide relief to masses, says Nisar $17.20bn Forex Reserves (1-Jan-11) 14.65% Inflation CPI% (Jul 10-Dec 10) $10.98bn Exports (Jul 10-Dec 10) $19.13bn Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) $(8.15)bn Current A/C (Jul 10- Nov 10) $(504)mn $5.29bn Remittances (Jul 10-Dec 10) Foreign Invest (Jul 10-Nov 10) $746mn Rs 495bn Revenue (Jul 10-Nov 10)
Portfolio Investment SCRA(U.S $ in million)
158.27 Yearly(Jul, 2010--7-Jan-2011) Monthly(Dec, 2010--7-Jan-2011) -37.13 -0.40 Daily (7-Dec-2011) 2900 Total Portfolio Inv (31 Dec-2010)
NCCPL (U.S $ in million) FIPI (11-Jan-2011)
2.18
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1.91
Other Organization (11-Jan-2011)
0.54
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See on Page 3
PAEC eyes 8.8kMW N-power by 2030
See on Page 12
Rikodiq mines await Apex Court's verdict
See on Page 12
Khosa named Punjab Governor
Economic Indicators
$58.41bn Foreign Debt (Sep 10) Rs 5348.6bn Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) $287.9mn -2.81% LSM Growth (Oct 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 171.84mn Population
ICC verdict on Pak trio on Feb 5
ISLAMABAD: President Asif Ali Zardari appointed close aide Latif Khosa to succeed the murdered governor of the Punjab province Salman Taseer on recommendation by Prime Minister Syed Yousuf Raza ISLAMABAD: PM Gilani addressing at 14th session of Comstech General Assembly. -APP Gilani. Earlier this week, Hajj Scandal President Zardari held con1H: remittances rise 17pc sultations with senior leaders of Pakistan Peoples Party (PPP) in connection with the appointment of Punjab Governor at Bilawal House in Karachi. See # 11 Page 11 Staff Reporter current fiscal year 2010-11, ISLAMABAD: Supreme showing an increase of Court (SC) while reprimanding severely Director KARACHI: Remittances $761.23 million or 16.80 sent home by overseas per cent when compared General (DG) FIA Waseem Pakistanis continued to with $4530.18 million Ahmad during the hearing of Hajj corruption case has show a rising trend as an received over the same periissued directives that he be amount of $5,291.41 mil- od of the last fiscal year. lion was received in the first The monthly average of isolated from the case. See # 13 Page 11 A 7-member larger bench half (July-December) of the of SC led by the Chief SBP MPS for Feb-March on 29th LAHORE: Parents of Justice of Pakistan (CJP) Justice Javed Iqbal of Iftikhar Muhammad Supreme Court (SC) have Chaudhry resumed the been murdered as they hearing of the case. Ghulam Raza Rajani The court expressed dis- KARACHI: State Bank of Pakistan (SBP) is scheduled seemed to have resisted a satisfaction over the inves- to announce Monetary Policy Statement (MPS) for Feb- robbery attempt here, tigations carried out by Mar 2011 period on January 29, 2011, chief spokesman media reported Tuesday. See # 15 Page 11 See # 12 Page 11 for the central bank told to See # 14 Page 11
SC removes DG FIA from case
Pak expats send $5.3 billion home
Justice Javed's parents murdered
Key rate may go up
Gilani says no amendment in Blasphemy Law
Coaction on ‘N’ agenda assured ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani said Tuesday that he has received the 10-point agenda of PML-N Quaid Nawaz Sharif which would be implemented in consultation with all the political parties, while he categorically stated no amendments are being brought about in the Blasphemy Law. Talking to media after inaugural ceremony of OIC Model Village for flood affected people here on
Tuesday PM Gilani said the agenda of Nawaz Sharif would be implemented with the guidance of PML-N. He said IMF is not saying anything about imposition of taxes and the Government would do whatever is in the interest of the country. In reply to a question Prime Minister said it is not his government but of the people who elected it and they would do whatever is possible. He said he has
Inflation down 0.31pc MoM
December CPI up 15.68pc YoY Ahmed Siddique KARACHI: Country's consumer price index (CPI) rose 15.68 per cent in December from a year ago, the Federal Bureau of Statistics said on Tuesday.
The monthly Consumer Price Index (CPI) during the month of December registered a decline of 0.31 per cent compared to previous month of current financial year where it rose 1.52 See # 10 Page 11
spoken to all the Parliamentary leaders and they all would extend a helping hand to each other to get the country out of crises. Prime Minister referred to criticism on his family and said he himself formed a Parliamentary committee to look into Hajj scandal. He said PML-N MNAs in the committee are leveling allegations against his family. He said the matter is See # 8 Page 11
Qureshi declines to meet Biden MULTAN: Foreign Minister Shah Mehmood Qureshi has turned down the presidential orders to meet the American Vice President Joseph Biden because of his engagements in 771st Urs of Bahauddin Zakariya Multani. He disclosed while See # 9 Page 11
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Wednesday, January 12, 2011
Ladiesfund for working women TFD Report
KARACHI: The Karachi Council on Foreign Relations Chairman Liaquat H Merchant and members of the Board of Governors held reception in honor of Mani Shankar Aiyar, member of Indian Parliament and former Secretary, Ministry of External Affairs at local hotel. Picture shows Speaker Sindh Assembly Nisar Ahmed Khouro, KCFREAL Vice Chairman Ahsan Mukhtar Zuberi, Admiral (R) Shahid Karimullah, Sharfuddin Memon, Thai Trade Advisor Arif Suleman, Rana Mubashir and Asif Zuberi, with host and Chief guest.-Staff Photo
SECP registers 293 companies in Dec ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 293 companies in December last. The private companies had the highest share in new incorporation totaling 272 followed by 13 singlemember companies, 2 public unlisted companies, 3 non-profit associations and 3 foreign companies, says
a statement issued here on Tuesday. The trading sector has the highest incorporation of 56 companies, followed by services with 43 companies, construction with 15 companies, communication, information technology, and hajj and umrah sectors with 13 companies each, food and beverages, and chemical sectors with 11 companies each, trans-
port sector with 10 companies. The Company Registration Office , Lahore registered 92 companies followed by CROs Karachi and Islamabad registering 85 and 80 companies respectively. The remaining CROs of Multan, Faisalabad, Peshawar, Sukkur and Quetta registered 13, 11, 8, 3 and 1 respectively.-APP
FBS to complete rebasing process ISLAMABAD: The Federal Bureau of Statistics would complete the process of rebasing the input data within a month, aiming at making the data relevant and up to the mark of world standards. Rebasing exercise is about to be completed and
could be implemented from the next month, Secretary Federal Bureau of Statistics Division (FBSD), Asif Bajwa told media persons here on Tuesday while unveiling the monthly trade and inflation statistics. He said that the base
year for measuring the inflation would be fixed 2007-08 while relevant data input would be included to give weightage to those products that have been in frequent use nowadays, citing the example of mobile phones.-APP
Etihad Airways fetes corp clients TV PROGRAMMES WEDNESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24
TFD Report KARACHI: Etihad Airways, the national airline of the United Arab Emirates, paid tribute to its corporate clients in Pakistan by hosting a gala dinner at the Karachi Marriott in recognition of their continuous business support and commitment to the airline. The prestigious event was attended by corporate clients and travel partners from leading organisations in Karachi as well as other senior travel industry officials. Amer Khan, Country Manager of Etihad Airways in Pakistan, said: "We are
AAML approves 2QFY11 payouts Staff Reporter
WEDNESDAY Time 8:00 9:00 9:15 10:00 10:15 11:00 11:05 12:00 12:15 13:00 13:05 14:00 15:02 15:30 16:15 17:05 18:05 19:00 19:30 20:00 20:05 21:00 22:00 22:05 23:00 23:05 0:00
Programmes Chai Time (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Power Lunch News Islamabad Say (Rpt) News Akhri Sauda Aap Ka Paisa (Rpt) Karobari Dunya Ghar Ka Kharch (Rpt) Chai Time News Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Badalta Pakistan (Rpt) News
pleased to have the continuous support of our corporate clients who have played a vital role in taking our progress in Pakistan to where it is today. "2011 is will be an excellent year for Etihad in Pakistan as we plan to work even closer with our corporate guests to guarantee that they receive nothing but the best travel service and experience when flying with us on Etihad Airways. We are also delighted to be working with Karachi Marriott whose productive partnership has allowed us to host this spectacular event."
KARACHI: The Board of Directors of Atlas Asset Management Limited (AAML), an Atlas Group Company in their meeting on January 11 approved second quarter pay-outs (ended December 31, 2010) for its Atlas Money Market Fund (AMF), Atlas Income Fund (AIF) and Atlas Islamic Income Fund (AIIF). For Atlas Money Market Fund (AMF) AA+ (f) rated by Pacra, the Board approved a second interim bonus of Rs 13.75 per unit (2.75% on the face value of Rs 500 per unit). This is in
addition to the payout of Rs. 11.50 per unit (2.30% on the face value of Rs. 500 per unit) already paid, making a total of 5.05% for the two quarters. AMF provides competitive returns from a portfolio of low risk, short duration assets while maintaining high liquidity. For Atlas Income Fund (AIF) AA-(f) rated by Pacra, a bonus of Rs 12.50 per unit (2.5% on the face value of Rs 500 per unit) was approved. Atlas Islamic Income Fund (AIIF) AA-(f) rated by Pacra, a second interim bonus of Rs. 11.25 per unit (2.25% on the face value of Rs 500 per unit) was approved.
Essa Alvi, Marketing Manager, Dr Stephen Wei, Omer Qadri, GM Marketing & Aamna Latif Manager Professional Services for Colgate Palmolive Pakistan.-Staff Photo
KARACHI: The British Deputy High Commission Karachi and Dawood Capital Management Ltd. Tuesday launched Pakistan's first Ladiesfund Networking Luncheon Series for professional women in Pakistan. Ladiesfund initiative, established by Dawood Capital Management Ltd., is investment advisory services for women to facilitate the financial security of women in Pakistan and promotes women entrepreneurship with the goal to uplift the country and tap into a highly potential unexplored segment. The focus of the lunch was to build professional friendships, mentorships and lobbying amongst professional and influential women in Pakistan. The lunch also celebrated the launch of Ladiesf und magazine, Pakistan's first magazine for working women and entrepreneurs.
SSGC raises gas supply to KESC KARACHI: Sui Southern Gas Company (SSGC) has increased gas supply to Karachi Electric Supply Corporation (KESC) from 30 mmcf to 50 mmcf per day. According to SSGC spokesperson here Tuesday, the gas supply has been enhanced pursuant to the cooperation extended by KESC over the weekend by reducing its gas consumption. He said that SSGC management would like to inform all concerned that the line pack situation has improved. SSGC would like to assure its valued customers that as conditions further improve, it will increase supply to KESC, accordingly, he added.-APP
Colgate Sensitive launched KARACHI: Colgate? Palmolive Pakistan held a convention on "Effective treatment of Dentine Hypersensitivity" where the distinguished speaker Dr. Stephen Wei spoke on the subject. The presentation was followed by a launch ceremony of Colgate Sensitive, the latest product offering of Colgate?Palmolive Pakistan which is clinically proven for effective treatment of Dentine H y p e r s e n s i t i v i t y. Renowned dentists from all over Karachi were invited. Dr Stephen Wei has been given the title of Professor Emeritus by Hong Kong University's dentistry faculty. He was also the Dean of the dentistry faculty and the Director of the Prince Philip Dental Hospital previously. Dr Stephen Wei explained that Dentine Hypersensitivity is caused by receding gums or enamel erosion and the resulting exposed dentine, which causes sudden pain when consuming hot or cold food. He went on to say that the regular use of Colgate Sensitive can effectively treat Dentine Hypersensitivity, allowing people to fully enjoy all kinds of food without having to worry about sudden and sharp pain. Also speaking at the conference were Omer Qadri, GM Marketing as well as Essa Alvi, Marketing Manager Colgate? Palmolive Pakistan.-PR
PM Gilani urges setting up excellence centres ISLAMABAD: Prime Minister Syed Yousaf Raza Gilani has said that Muslims must build our human capital and invest in science and technology to catch up with rest of the world. Addressing the 14th General Assembly Meeting Of OIC Standing Committee On Comstech here on Tuesday the PM said: " we live in an age of scientific innovations and technological advancement.
In the knowledge based societies of the 21st century only those nations could aspire to lead which excel in science and technology. God Almighty has endowed Muslim lands with enormous human and material resources. But we are still counted among the backward as we lack in scientific and technological advancement. We must build our human capital and invest in science and tech-
nology to catch up with rest of the world. COMSTECH has precisely this responsibility to help OIC member countries in promoting a culture of research and innovation in science and technology". He said COMSTECH on its own has managed to obtain almost twice as much fund for its Science and Technology programmes as financial contributions by its member states.-Online
NA Speaker to attend CSPOC meeting ISLAMABAD: Dr. Fehmida Mirza, Speaker, National Assembly will proceed to Isle of Man (UK) to attend the annual meeting of the Standing Committee of the Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) countries. The meetings will be held from January 13 to 15, 2011 in the Tynwald Chamber of
Isle of Man. The Standing Committee of CSPOC will discuss and determine the agenda and venue for the organization of Conference of Speakers and Presiding Officers of Commonwealth 2012. The annual meeting of the Standing Committee serves to establish venues, dates, topics for biannual Conferences and to review
the rules and to consider all matters concerning the Organization and conduct of the Conference. The Speaker will also meet Speakers and Presiding Officers of Commonwealth countries on sidelines of the meetings and discuss matters to enhance bilateral relations between their respective Parliaments.-NNI
Highest monthly exports in December KARACHI: In December 2010, Pakistan touched the highest ever monthly exports figure of $2.127 billion, showing a rise of 35.9 percent over the same month last year. According to trade date provided by Trade Development Authority of Pakistan (TDAP) here Tuesday, country's exports during December, 2009 were valued at $ 1.566 billion. Imports during December 2010 valued at $ 3.751 billion, registering a growth of 27 per cent over the level of imports valued at $ 2.908 billion in December, 2009. Cumulative value of exports for the period July-December, 2010 was $11.010 billion as against $9.099 billion, showing a growth of 21 per cent over the same period last year. While, cumulative value of imports for the period July-December 2010 was $ 19.126 billion compared to $15.995 billion registering a growth of 19.6 per cent, over the same period last year.-APP
KSBL conducts executive ed programme Staff Reporter
KARACHI: The electrical staff working in the Switchgear Room during the cold commissioning activities of Tuwairqi Steel Mills.-Staff-Photo
KARACHI: Prof Nelson Phillips, formerly Beckwith Professor of Management Studies at University of Cambridge Judge Business School and currently Head of the Organization and Management Group at Imperial College Business School as well as Director of Executive Education, conducted the "Leading Innovation Strategically" Executive Education
Program for top corporate executives, for the Karachi School for Business and Leadership (KSBL) on Jan 5-6. Prof Phillips is a renowned expert in the fields of strategy, innovation, knowledge management and entrepreneurship. The program was attended by COOs, Directors, General Managers and Operational Heads from prominent multinational and national companies across various industries.
Japan's Kagawa attends a training session for the Asian Cup soccer tournament in Doha
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Wednesday, January 12, 2011
Messi wins FIFA world player award Monitoring Desk ZURICH: Argentina and Barcelona forward Lionel Messi won FIFA's Ballon d'Or award on Monday as the world's best player of 2010. Ballon d'Or 2010 in Pics Messi won the trophy for a second straight year, finishing ahead of Barcelona teammates Andres Iniesta and Xavi Hernandez. "It's a very special day for me," Messi said through a translator on receiving the award at a gala ceremony in FIFA's home city. The 23-year-old Messi helped an exciting Barcelona team retain its Spanish league title and lead the standings again this season. Messi's trademark tricky play was often mesmerizing and he scored 58 goals for the Catalan club in 2010. However, he had a disappointing World Cup in South Africa, failing to score. Iniesta and Xavi, by comparison, starred for eventual winner Spain. "I didn't expect to win it today," Messi said. "Already it's a source of happiness to be here with my friends and even more to win it." Messi obtained 22.65 percent of the votes cast by coaches and captains of national teams plus invited journalists. The original shortlist featured 23 players.
ICC verdict on Pakistan trio on Feb 5 DOHA: The International Cricket Council (ICC) tribunal will give its verdict on the three Pakistan players accused of spot-fixing on February 5, tribunal chairman Michael Beloff said on Tuesday. Salman Butt, Mohammad Amir and Mohammad Asif will remain suspended, the ICC said. "The Tribunal is determined to continue its deliberations until February 5 this year. Until that date all three players will remain suspended," Beloff said
in a statement. The players face lengthy bans if they are found guilty of spot-fixing during Pakistan's test series in England last year. A British Sunday newspaper report alleged that they had taken bribes to arrange for deliberate no-balls to be delivered at pre-agreed times in the fourth test at Lord's. The three players, none of whom is being backed by the Pakistan Cricket Board (PCB), have denied any involvement in spot-fixing. -Agencies
Millar leads Australasian qualifiers into Open MELBOURNE: Matthew Millar, Kurt Barnes and Rick Kulacz qualified to play in this year's British Open Championship at Royal St George's after finishing in the top three of Tuesday's International Final Qualifying Australasia. Millar finished as the clear leader after 36 holes at Kingston Heath, shooting a total of 10-under par to clinch his first start in a major championship. Barnes finished a shot back at nine-under par, while the West Australian duo of Stephen Leaney and Rick Kulacz were forced into a playoff to decide the final Open spot after both finished at eight-under.-Reuters
Wozniacki, Zvonareva fail in Sydney SYDNEY: Top-ranked Caroline Wozniacki and Vera Zvonareva crashed out of the Sydney International on Tuesday, leaving them short of vital match practice ahead of next week's Australian Open. Denmark's world number one Wozniacki was knocked out by Slovakia's 32nd-ranked Dominika Cibulkova 6-3, 6-3 in one hour 40 minutes and was followed out of the tournament by Russian Zvonareva on a rain-interrupted day. Second-ranked Zvonareva fell to Italian Flavia Pennetta 75 7-5, leaving US Open champion third-seeded Kim Clijsters as the highest-ranking seed left in the tournament. Clijsters cruised into the quarter-finals with a 6-1, 6-4 victory over Czech Barbora Zahlavova Strycova. While Clijsters was contemplating a match against seventh seed Victoria Azarenka, Wozniacki and Zvonareva were hastily arranging extra practice to make up for their lack of match play heading into Monday's season-opening Grand Slam. "At the start of the new season you always need to get into the match play," Wozniacki said.-Reuters
SYDNEY: Kim Clijsters of Belgium plays a forehand in her match against Barbora Zahlavova Strycova of the Czech Republic during day three of the 2011 Medibank International at Sydney Olympic Park Tennis Centre.-Reuters
Younis gives evidence at anti-graft tribunal WELLINGTON: Pakistan coach Waqar Younis gave evidence to the independent anticorruption tribunal hearing against three Pakistan cricketers in Doha, Qatar, he confirmed on Tuesday Three leading players, former test captain Salman Butt and outstanding pace bowlers
Mohammad Aamer and Mohammad Asif, are expected to learn their fate overnight (NZT) following the conclusion of a six-day hearing, which should at last bring to an end the spot-fixing scandal that dominated headlines last year. The trio, all frontline play-
ers, have been charged with offences relating to alleged activity surrounding the test against England at Lord's in August. A British Sunday newspaper report alleged that they had taken bribes to arrange for deliberate no-balls to be delivered at pre-agreed times. -Reuters
4 Wednesday, January 12, 2011
Analysing the analysts on AfPak
The Financial Daily International Vol 4, Issue 151
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
Squeezing the trade deficit For the current financial year the government has fixed the export target at $22 billion. A point of satisfaction may be that the country has managed to export goods worth $11 billion during July-Dec 2010. However, imports took a quantum leap to $19 billion resulting in trade deficit of over $8 billion during this period. During first half of last year country registered exports worth $9.19 billion and imports $15.99 billion yielding a trade deficit of $6.8 billion, suggesting that there is no room for complacency. In fact efforts would have to be doubled to contain trade deficit and check substantial erosion of country's liquid foreign exchange reserves. With the commencement of 2011, incidence of power/gas load shedding has been intensified further. The worst sufferers have been textiles and clothing industry, contributing up to 60 per cent to total exports of the country. Higher textiles and clothing exports are mainly due to a rise in cotton prices rather than any significant increase in quantities exported. The real havoc will be created by a mighty jump in oil import bill mainly due to increase in POL bulk as well hike in crude oil prices. Closure of fertiliser plants for 45 days will compel the government to import urea as well as pay huge subsidy. International price of urea is almost double the cost of locally produced one. In the prevailing scene Pakistan has to try to boost exports and contain imports to keep the trade deficit at a sustainable level. However, neither of these options seems workable for the time being, at least. Electricity and gas load shedding will not allow production of exportable surplus. On top of this, running of plants at lower capacities will not help in achieving economy of scale, resulting in higher cost of production and rendering local exporters uncompetitive in the global markets. Pakistan's imports are likely to remain high due to increase in oil bill, higher import of urea, and edible oil. Though, the numbers may not be significant trade deficit can be contained by exporting surplus wheat and containing edible oil import bill by boosting production of canola, sunflower and maize. For higher realisation of value from each kilogramme of cotton produced a temporary ban should also be imposed on export of raw cotton, yarn and un-processed cloth. What are you waiting for?
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
Hamid Waheed
A
f-Pak remains the hottest issue for analysts and Think Tanks, where everything is discussed under umbrella of speculations and ambiguity. The fast changing and unclear policies in the area leave room for new lines each having potentials to lead to the final solution. "In Pursuit of Failure" published in Dawn recently Tariq Fatemi states that during nine years of occupation, over 2,000 US lives were lost and billions of dollars wasted, yet the US is still in the process of determining what its strategy in Afghanistan should be. Whatever US decides about its exit strategy from Afghanistan, Pak should realize that they have paid an enormous amount in furtherance of US goals. However this is not the issue, Pak should be looking towards the best possible solution of Afghanistan after exit or handing over of security issues to Afghan LEA.
"The Continuing US-Pakistan Disconnect over the Afghan War" published by Stratfor on Dec 29, 10 points out that both sides agree on a negotiated settlement with the Afghan Taliban, but there is a huge disagreement on how to go about getting to the negotiating table. Until that happens, the USPakistan disconnect over the cross-border insurgency is likely to continue. Now US is mounting pressure on Pak for operation in NWA without considering its repercussions. The Pakistanis want the Americans to realize that they can't risk exacerbating the war in their country by going after forces that are not waging war against Pakistan. The US view the reason for the delay of sending forces into North Waziristan as the consequence of a resurgence of militant activity in other parts of the tribal areas like two separate attacks over the weekend in Mohmand and Bajaur agencies. The paper does not consider the quantum of Pak troops and border posts
working in area as compared to forces from NATO and US. Moreover, this issue was highlighted a year before in an article "Taliban take over Afghan Province" written by Syed Saleem Shahzad in Asia Times that US has withdrawn its troops from its four key bases in Nuristan, on the border with Pak. This left northeastern province as a safe haven for the Taliban-led insurgency to orchestrate its regional battles. This withdrawal directly affected war led by Pak troops against Taliban as militants marched towards Mohmand and Bajaur agencies to help their fellow Taliban. The threads of these mind boggling analysis have deep links to the conflicting US policies by Pentagon, bureaucrats and White House. They have failed to come up with any solution for the ongoing war in Afghanistan for last nine years directly impacting Pak and asking them to do more. The subject is of great importance for US, Pak,
Afghanistan and other players and everyone is trying to keep its cards hidden till the last moment to gain max leverage at the point of decision making. It seems that point of decision making will start once the stakeholders go for formal negotiations with Taliban for political solution. At military level, Gen Petraeus and Gen Kayani play their cards to gain military leverage in the area. The security dynamics of the area remain complex having far future implications. Planned killing of AlJabouri the commander in Mosul by suicide bomber after failing in at least five previous attempts shows their mindset. Society and environment remain the main area of concern both for LEA and Terrorists to shape up their future strategy. The solution may lie in looking for joint benefit for the coalition partners and pursue them under umbrella of confidence on each other not only to secure this part but the entire world.
Is secularism dying in Pakistan? S
ecularism has become a dangerous, deadly label in Pakistan as Muslim extremists slowly strengthen their stranglehold on the nuclear-armed, US ally and put its stability at risk. Punjab governor Salman Taseer was a liberal, secular Muslim who, last week, was shot dead by his own bodyguard for opposing a blasphemy law that many human rights activists say is often used to discriminate against ethnic and religious minorities. Taseer's death shocked many in Pakistan and abroad, but perhaps the widespread lionisation of his assassin, Malik Mumtaz Hussain Qadri, was more worrying for the future of a country that Washington sees as key in its fight against militancy. The governor's slaying, analysts say, will mean the further silencing of liberal and moderate voices, giving religious parties and their allied militants even more veto power over politics in Pakistan. "Pakistani society has drifted toward religious militancy over the last 20-25 years," said Hasan-Askari Rizvi, a political analyst. "Anti-American sentiment is very strong, because that's the mind-set they've been brought up with." Rizvi predicts that Pakistan will have a rough decade ahead as the generation born in the 1980s -- raised on extremist ideology taught in schools and repeated on television and in the mosques -comes to power. Qadri shot Taseer 27 times in the parking lot of an upscale market and then gave himself up. Almost immediately, militants who want an Islamic emirate in Pakistan -- one that defines itself in opposition to the West and the United States -- hailed him as a hero. Hundreds of lawyers, and a few police officers, showered Qadri with flower petals as he arrived at a courthouse. Thousands of Facebook pages and Twitter posts from Pakistani youth
who are also fans of pop singers Miley Cyrus and Justin Bieber popped up in support of Taseer's killing. More than 500 religious scholars from a sect traditionally considered moderate ruled the killing justified and warned against any show of grief for Taseer, lest the mourners meet the same fate. "We have been concerned about increased extremism in Pakistan for some time," said US State Department spokesman PJ Crowley a few days after Taseer's killing.
“
"Pakistani society has drifted toward religious militancy over the last 20-25 years," said Hasan-Askari Rizvi, a political analyst. "Anti-American sentiment is very strong, because that's the mind-set they've been brought up with."
"As we've made clear, political violence is a threat to the civilian government in Pakistan, and obviously this is just the latest example." Many fear Taseer will be the first of many to be slain for speaking out against extremism: former information minister Sherry Rehman, who introduced the bill to change the blasphemy law, has gone into hiding and the country's interior minister has suggested she leave the country. "SILENT MAJORITY" Political stability in Pakistan is seen as key to the United States' war against Taliban militants in Afghanistan. Islamabad's willingness to take on militants on its own soil is also a key security interest of the United States, given the Times Square bombing and other plots that have Pakistani connections. Washington has been counting on Pakistan's "silent majority" for years in its fight against extremism and Taliban
Ch Shujaat is right The assassination of Punjab Governor on Jan 5 has brought mourning as well as severe effects in Pakistan at the start of year 2011. The Governor was killed by his guard who claims to have done so because Salman Taseer called the blasphemy law as a black law. The murderer is condemned in political circles but being largely appreciated by general public in Pakistan. But certainly this is going to further tarnish Pakistan's image abroad. The issue is getting hot, and if handled carelessly, it can blow out of proportion and can push Pakistan into anarchy. One would like to agree with Ch Shujaat Hussain's conclusion that instead of repealing the blasphemy law, we must bring another law removing the administrative lacunae how to implement it. He is a con and seasoned politicians and knows the psychological effects of the law and the people who are highly sensitive to it. Rehman Malik's rhetoric that "if anyone talks blasphemous against the Prophet in front of me, I would be the first to shoot
militancy emanating from Pakistan's tribal areas. But the celebration of the assassin Qadri has undermined the supposed influence of these moderates, and also shattered the vision liberals had of their country as a tolerant homeland for South Asia's Muslims, but where others can worship freely. "The reclamation of God in Pakistan, taking back Allah and taking back the prophet and taking back the mosque is really the project of Pakistan," journalist Mosharraf Zaidi told Reuters.
him or her dead" was though in the context of first confirming whether the blasphemy is actually committed, yet it gives wrong signal to the general public that yes if confirmed then the law can be taken into one's own hands. What Salman Taseer had been doing was tantamount to taking law in his hands on another extreme because before the court gives a verdict he dubbed it as black law, which was highly irresponsible on his part. Every member of our society is either extremist or at least silent fundamentalist. The love of the Holy Prophet (PBUH) is the basis of our faith. But this we have to see how the Caliph Ali (RA) was assassinated on mere conspiracy of propaganda. It is to be seen why the west is after us to check our sensitivities on such a high level, but this has also to be seen how we can bear all this with utmost resilience and wisdom, rather than going berserk and taking law into our hands. We are in turbulent times; we have to correct our barometers first. Sobea Tabbasum, Rawalpindi
"This is the most important challenge facing Pakistan. And I'm really afraid maybe the country might not be up to it." Sajjid Anwar, deputy secretary general of Jamaat-e-Islami, Pakistan's largest and best organised religious party, told Reuters there was "no future" for secularism in Pakistan. That implies that any national discussion, whether on tax reform or prosecuting the war on terrorism, can be framed in religious -- and thus sacred - terms. WHO'S TO BLAME? Much of Pakistan's turn towards hardline Islam can be traced to president General Mohammad Zia ul-Haq, who, in the 1980s, enjoyed enthusiastic support from the United States against the Soviet occupation of Afghanistan. Zia nurtured Islamist militants and used American cash to turn a society that had previously been relatively moderate and tolerant towards hard-
line Islam inspired by Saudi Wahhabism. Some blame Pakistan's weak government for the increase in radicalism, and pine for the "enlightened moderation" of former military ruler General Pervez Musharraf, who was forced to resign in 2008. The government's inability to provide basic services, from education, to reliable electricity, to improving the economy have made it deeply unpopular. Hardline clerics often exploit anger at the government among the largely poor and illiterate population to further their harsh, unforgiving brand of Islam. When massive floods swept through the country last year, Islamist charities spearheaded aid efforts and reached out to villagers the government was unable to. The government's unpopularity often make it rely on extreme elements to stay in power, and to pander to their politics. After Taseer came out against the Punjabi Taliban and opposed the blasphemy law, the leadership of the ruling Pakistan People's Party abandoned him publicly. Calls for his death rang from mosques for months. The government did nothing to stop it. The government has backed off from its campaign to change the blasphemy law and the Pakistan People's Party tried to blame shadowy political conspiracies for Taseer's murder rather than ascribe a religious motive. Some Pakistanis say things would be better under a truly democratic system, but others think it's less about the system of government and more about basic competency. "It's not (about) democracy, it's how the country's been politically managed for 30-40 years," said a British Pakistani who declined to be identified. "The solution is to start managing the country properly. There's no good government. They can't do anything."Reuters
Unavailing though predictable Considering the special case of Pakistan where laws against blasphemy pose certain legal constraints against the very act of blasphemy, such individualistic and unsanctioned acts of taking the law into one's own hand only aggravate the sociopolitical climate for any possible and positive change which, in case of a mass campaign and struggle, could easily be paved for a concrete solution of an issue relating to the sentiments of the majority of population. However, if people at the principal positions like that of Salman Taseer would outrightly go against the laws enacted by a compulsory institution of the state i.e. judiciary and the said institution would fail in putting a check on such unconstitutional acts perpetrated by certain individuals, their fate would ostensibly be the same at the hands of some awry minded individual.
In actuality, Asia Bibi has been convicted by the Sheikhupura District Court for blasphemy under Section 295 C of the Pakistan Penal Code. The case has now to be upheld by the Lahore High Court. So Salman Taseer definitely violated the law through his unwarranted intervention by issuing public statements against Section 295 C of the constitution and against a case in progress. It would have been somewhat explicable if rather than issuing public statements in violation of the law and embroiling the masses against himself, he had supported the defendant Asia Bibi in her case at the High Court in order to suspend the sentence issued by a lower court. In case of a drastic violation of law by an individual of such stature, one doesn't really need to file a lawsuit against the violator as by default judiciary is
the guardian over each and every clause of the constitution. But we didn't see the judiciary taking any action in this regard against Salman Taseer. If the men at principal positions make mockery of the law and then go scot-free, that would be really naive on their part to expect a constitutional treatment by a layman whose religious sentiments have been associated with that specific law. But in any case, the solution is not in the hands of an individual. For an amicable resolution of this seemingly inexorable turmoil, the socio-political climate of the country needs to be paved and maneuvered for the constitutional functioning of the compulsory institutions - the parliament and the judiciary. NOMAN A BURNEY UNIVERSITY OF KARACHI
5
Wednesday, January 12, 2011
South East Asian stocks
Europe shares end at 28-mth high on earnings hopes KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,306.70 12,267.21 39.49 0.32 120.00
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,764.98 3,780.15 15.17 0.40 6.05
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,125.30 3,085.14 40.16 1.28 0.27
Major Gainers
Close
Change
WYETH 1,054.67 NESTLE 2,469.00 COLG 941.00 UPFL 1,111.00 CPL 205.37
Symbol
23.82 20.94 20.89 20.50 9.74
Major Losers
Symbol
Close
Change
RMPL 2,051.02 ULEVER 4,260.25 DREL 580.00 PECO 195.49 FZTM 405.45
-53.62 -48.47 -29.99 -10.28 -9.45
Top 5 Volume Leaders
Symbol LOTPTA FFBL FATIMA ATRL ENGRO
Close Vol (mn) 14.52 38.42 11.67 135.77 208.26
11.70 10.77 7.40 5.91 5.13
Active Issues Plus Minus Unchanged
183 199 26
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)
33,929 32,092 7,087 6,813
INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753
HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075
DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%
OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)
PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)
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
Fall again; Indonesia at lowest in over 3 months US stocks late-morning
KSE red & flat on gain-getting exploits Nawaz Ali KARACHI: Shares ended lower at the Karachi Stock Exchange (KSE) which closed below 12,300 points level on Tuesday as investors went after profits in oil stocks for the most part. The benchmark KSE 100Index lost 39 points to close at 12,267 points and KSE All Share Index fell by 22 points to close at 8,516
points while KSE 30-Index increased by 16 points to close at 11,948 points. "Local institutions continued to rake in profits", said Samar Iqbal, equity dealer at Topline Securities. However cherrypicking was seen in fertiliser stocks and Lotpta with high hopes pinned on upcoming results, he added. Though market opened on a positive note with 7 points up its sleeve, therefore it
Nikkei dips on euro zone worry TOKYO: The Nikkei average edged lower on Tuesday, backing away from an eightmonth high hit at the end of last week, as worries over the euro zone's debt problems prompted some investors to lock in profits on recent gainers. Japan's announcement that it planned to buy euro zone bonds to support the European financial system boosted the euro against the yen, which briefly lifted shares of exporters but had a limited impact on the overall market. "There is still uncertainty over the European economy, so investors are cautious especially after the Tokyo market's recent sharp gains," said Yumi Nishimura, senior market analyst at Daiwa Securities Capital Markets. The benchmark Nikkei closed down 0.3 per cent or 30.36 points at 10,510.68, after hitting an eight-month closing high on Friday. Tokyo markets were closed on Monday for a public holiday. Falls were limited as many traders said they were already concentrating on this week's earnings announcements from US companies, looking for further signs that the world's No.1 economy is picking up steam.
Morgan Stanley, Intel Corp and Advanced Micro Devices Inc are among companies reporting earnings this week. The broader Topix index was up 0.1 per cent at 926.94. "Buying of defensive stocks may support the market this week, so despite worries in the euro zone, the market may not see a lot of losses," said Tsuyoshi Segawa, an equity strategist at Mizuho Securities, adding that the Nikkei may stay in a range of 10,400 to 10,600. The euro rose against the yen after Finance Minister Yoshihiko Noda said Japan would buy about 20 per cent of bonds the euro zone plans to jointly issue later this month to raise funds to support Ireland. Market players played down the impact of the announcement, however, noting that euro zone debt worries, the main reason investors sold stocks on Tuesday, were persistent and likely to keep resurfacing. "It's a small positive factor as it helps weaken the yen against the euro and support exporters, but it won't change the mood of the market overall as the euro zone worries aren't going away," said Hideyuki Ishiguro, a supervisor in the investment strategy.-Reuters
Wall St rises after positive earnings news
showed some rangebound activities throughout the day moving on both sides of the index between 12,367 points (+ve 60) and 12,248 points (-ve 58) as investors mainly from the local side continued to harvest profits. However some buying interest was seen in some fertiliser and banking stocks in anticipation of above-expectation corporate result announcements. Foreign investors howev-
er remained mainly on the buying side as according to NCCPL they net-bought stocks worth $2.17 million on Tuesday. On the local side, banks did a-net selling of $6.25 million while individual investors and companies net-bought scrips worth $1.9 and $1.38 million respectively. Investor participation stayed on the lower side as 120 million shares were traded during the day which
Banks up FTSE on optimistic broker word
India stocks drop 6th day, longest in a year
LONDON: Banks, lifted by upbeat broker comment, helped hoist Britain's top share index back above the 6,000 level on Tuesday as investors shrugged off euro zone debt worries for the time being. The FTSE 100 index closed up 57.73 points, or 1 per cent, at 6,014.03, snapping a threeday losing streak. Banks were the standout gainers after falls on Monday, led up by Barclays which rose 5.5 per cent. Societe Generale named the lender one of its preferred stocks in the European sector which it upgraded to "overweight". Global banking heavyweight HSBC put on 2.4 per cent after Citigroup upgraded it to "buy" from "hold". Traders said European sovereign debt fears faded after Portuguese Finance Minister Fernando Teixeira dos Santos said there was no plan to seek a bailout from the EU and IMF. "That's put a bit of happiness back in the market, and seems to have calmed everyone's fears for the moment, but who knows what's around the corner," Mark Priest, senior equities trader at ETX Capital, said. Buyers came in for miners as metal prices rebounded, and after aluminium producer Alcoa kicked off the US See # 16 Page 11
MUMBAI: Indian markets fell for the sixth session in a row on Tuesday, their longest losing run in a year, as rate rise concerns continued to rattle investors, who were also sceptical of quarterly earnings that begin this week. Feeble attempts to pull out of the slide failed to hold and the market dropped to its lowest close in six weeks, taking losses since the start of the New Year to 6.4 per cent. Volume was relatively light and trading choppy. The 30-share BSE index ended down 0.14 per cent or 27.78 points at 19,196.34, after rising as much as 1.1 per cent early and then falling more than 1 per cent at one stage. Fourteen of its components closed in the red. "There are a lot of headwinds," said Sanjeev Patni, president and head of institutional equities at Prabhudas Lilladher. "Stubbornly high inflation, stretched liquidity, uncertain political scene, spiralling commodity prices are issues which are worrying." Software services majors shed the most as investors locked in profits after a big run up in 2010. Infosys Technologies, which kick starts the earnings season on Thursday, shed nearly 2 per
is 15.4 million shares less as compared to a turnover of 135.4 million shares a day earlier. Lotte Pakistan stood as the volume leader with 11.7 million shares followed by Fauji Fertiliser Bin Qasim with 10.77 million shares and Fatima Fertiliser with 7.4 million shares. Out of total 408 active issues 199 declined and 183 advanced while 26 issues remained unchanged.
cent after the bellwether had gained almost a third in 2010. Bigger rival Tata Consultancy Services shed 2.6 per cent, while Wipro bucked the trend and firmed 0.9 per cent. Export-driven outsourcers are expected to report robust growth in quarterly earnings and a firm outlook, driven by an expected increase in clients' technology budgets. Financials, which had taken a beating on rate worries, pulled back. The banking sector index gained 1.2 per cent, after declining 7.5 per cent over previous sessions. Leading lenders State Bank of India and ICICI Bank gained 2.5 per cent and 0.9 per cent respectively. Data showed auto sales in 2010 grew a record 31 per cent, driven by a burgeoning middle class in Asia's third-largest economy, but analysts forecast a slowdown amid high comparisons, a likely hike in interest rates, and rising fuel and vehicles costs. The 50-share NSE index slipped 0.2 per cent to 5,754.10 points. World stocks as measured by MSCI were up 0.2 per cent by 1039 GMT while emerging markets gaining 0.6 per cent.-Reuters
ANNOUNCEMENTS Company Abdullah Shah Media Times Ltd
Period Yearly -
Div/Bon/Right 33.33%(R)
PAT (Rs in mn) 41.746 -
EPS(Rs) 0.56 -
NEW YORK: US stocks rose on Tuesday after several fourth-quarter earnings reports and outlooks came in higher than expected, putting the S&P 500 index on track to snap three straight sessions of declines. Stocks have rallied in recent weeks in part on optimism about stronger corporate profits, with the S&P up nearly 8 per cent since the start of December. However, the benchmark S&P 500 had lost ground over the past three sessions, leading some analysts to question whether stocks had become expensive or if the pullback meant stocks would climb again as earnings news rolled in. Sears Holding Corp rose after the store chain raised its profit outlook above Wall Street estimates, citing strong sales. Homebuilder Lennar Corp advanced 5.6 per cent to $19.97 after after posting a fourthquarter profit sharply higher than expected. Alcoa Inc posted a quarterly profit that topped Wall Street's expectations, though revenue slightly missed the analysts' average estimate. The aluminum maker's shares fell 1.2 per cent to $16.28. "The earnings this quarter should be pretty decent. The question is how much of it was already discounted, that is going to be the real question," said Marc Pado, US market strategist at Cantor Fitzgerald & Co. in San Francisco. "The first companies to report will have coattails and lift the market overall, but ultimately in the end, the negative here is that we've come a long way since September." The Dow Jones industrial average rose 63.84 points, or 0.55 per cent, at 11,701.29. The Standard & Poor's 500 Index gained 7.32 points, or 0.58 per cent, at 1,277.07. The Nasdaq Composite Index added 11.18 points, or 0.41 per cent, at 2,718.98. Alcoa projected a 12 per cent rise in demand for aluminum this year. Some analysts questioned whether the forecast was realistic. Alcoa shares had risen 24 per cent since the start of December.-Reuters
Dhiyan
HK, China shares rise; A MIXED-TO-BEARISH DAY energy helps advance Zia Shaafi, Senior Equity Dealer Pearl Securities
HONG KONG/SHANGHAI: Shares in China and Hong Kong rose on Tuesday as North Asian markets outperformed the region, with optimism over strong economic growth and corporate earnings offsetting investors' concern over Europe's festering debt crisis. Energy shares also supported markets as oil prices continued to recover from a drop of more than 3 per cent dip last week. Shanghai's key stock index ended 0.4 per cent higher at 2,804 points, bouncing off an intra-day low at its 200-day moving average. Hong Kong's benchmark Hang Seng Index reversed two days of declines and rose 1 per cent to 23,760 points, closing in on a short-term resistance at its October high of 23,840.3. "People are expecting good earnings and there is a sense that the global economy is recovering well. Those are underlying strengths in this
market," said Larry Jiang, chief investment strategist at Guotai Junan Securities in Hong Kong. Jiang also said hopes for a pick-up in merger activity were boosting sentiment. Hutchison Whampoa rose 4.5 per cent to its highest level in more than three years and provided the biggest boost to the broader market as investors piled into its shares amid speculation that it might spin off its health and beauty chain, Watsons. Shares of Li Ka-shing-controlled Hutchison have risen nearly 71 per cent since Aug 5, breaking through a yearlong trading range after the company announced investments in its 3G business. But Julian Ba, an analyst at Macquarie Securities who has a "neutral" rating on the stock, warned that bullish sentiment on the company's turnaround may be growing excessive. The stock is trading well
into technically overbought territory and the latest gains haveg come on relatively low volume, suggesting a nearterm pull back could be on its way. Meanwhile, a steady recovery in crude oil prices benefitted shares of majors Petrochina and CNOOC, which gained 1.8 per cent and 2.3 per cent, respectively. Oil held above $89 a barrel as a major North American pipeline that carries flows equivalent to 12 per cent US crude output remained shut. China's key stock index reversed early losses as investors snapped up property shares, despite a report that Shanghai was likely to impose a property tax. The benchmark Shanghai Composite Index slid 0.4 per cent on Monday when the property sector underperformed after local media reported Chongqing may launch a property tax in the first quarter.-Reuters
Market is in an overbought region and if in the coming days it manages to cross and sustain the psychological barrier of 12,500 points then we can see another bullish rally which can lead the index to 13,000 level. However, if it fails to do so then we can see technical correction. Investors are recommended to offload 70 per cent of their holdings while they should hold the rest. Good corporate results and launch of leverage product would turn the market on but a correction would precede such bull-run. Market would be rangebound today.
Muhammad Ahsan Rasheed, Director Research & Marketing AMJ Growth Investors are currently booking profits due to overboughtness of bluechips and I think the index can fall down to as low as 12,080 points level. Investors are advised to adopt a 'sell on strength' strategy and buy on attractive levels with stop loss. They can invest in insurance and fertiliser stocks as good result announcements are expected in these sectors. Corporate announcements and launch of MTS would support the market. Market outlook is mixed-to-bearish today.
6
Wednesday, January 12, 2011
Market Volume
120,003,288
Value
7,365,037,562
Trades
75,409
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
183 199 26 408
All Share Index
12,267.21 12,367.52 12,245.08 i39.49
Current High Low Change
KSE 30 Index
8,516.35 8,580.00 8,501.01 i22.99
Current High Low Change
KMI 30 Index Current High Low Change
11,948.97 12,027.87 11,889.02 h16.47
19,829.45 19,967.31 19,758.66 h20.52
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,613.38 Turnover 13,924,972 P/E (x) 11.59 Company
KSE 100 Index
Symbols
PE
Attock Petroleum 691 6.02 Attock Refinery 853 7.61 BYCO Petroleum 3921 Mari Gas Company 735 17.54 National Refinery 800 4.49 Oil & Gas Development 43009 11.78 Pak Petroleum 11950 9.07 Pak Oilfields 2365 7.71 Pak Refinery Limited 350 P.S.O 1715 4.95 Shell Gas LPG 226 Shell Pakistan 685 10.61
Open 340.55 130.58 11.31 130.95 294.15 177.95 223.39 322.79 104.69 294.47 33.11 206.77
High 349.00 136.60 11.64 132.20 304.00 179.24 226.40 328.65 107.50 295.39 33.40 207.97
High Low 1,632.20 1,586.65 Total cos Defaulter cos P/BV (x) ROE (%) 3.77 32.54 Low 339.00 132.00 11.35 128.51 294.90 172.65 222.00 320.50 105.52 292.40 32.75 206.27
Close Chg 347.64 135.77 11.56 129.44 302.84 174.04 223.02 326.61 106.22 292.70 32.98 206.89
7.09 5.19 0.25 -1.51 8.69 -3.91 -0.37 3.82 1.53 -1.77 -0.13 0.12
Close Change 1,601.55 -11.84 Listed cap Market cap 65,194.15 mn 1,235,006.24 mn Payout (%) Div Yield (%) 55.94 4.83 Last 60 days High Low
Volume 327457 5907754 2131564 186679 513410 1755225 1680333 2623414 68095 843118 6560 12927
374.20 137.20 12.49 136.48 304.00 185.00 228.88 328.65 114.50 300.53 40.28 209.89
287.99 86.40 10.46 110.02 203.00 147.30 180.51 231.01 65.00 262.00 29.10 182.05
% Change -0.73 5-Day High 1,628.77 5-Day Low 1,572.55
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B - 15.00 20B -
-
CHEMICALS
Open 719.12 Turnover 6,958 P/E (x) 5.56 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
PE 6.90 39.83
Open 69.19 36.80
High 70.00 36.80
High Low 725.59 710.26 Total cos Defaulter cos P/BV (x) ROE (%) 1.42 25.53 Low 68.50 36.00
Close Chg 69.02 -0.17 36.64 -0.16
Close 717.09 Listed cap 3,242.17 mn Payout (%) 11.08
Volume 4188 2770
Change -2.03 Market cap 12,626.30 mn Div Yield (%) 1.99
Last 60 days High Low 77.77 40.42
60.05 32.36
Company
Company
Paid up Cap(mn)
High Low 1,504.79 1,464.68 Total cos Defaulter cos P/BV (x) ROE (%) 3.19 35.00
PE
Open
High
Low
Bawany Air 68 63.92 BOC (Pak) 250 13.77 Clariant Pak 273 7.85 Dawood Hercules 1203 8.34 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.44 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.85 Fauji Fert.Bin Qasim 9341 7.25 Gatron Ind 384 2.52 Ghani Gases Ltd 725 9.58 ICI Pakistan 1388 8.51 Lotte Pakistan 15142 5.19 Mandviwala 74 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 10.00 Sitara Peroxide 551 14.55 United Distributors 92 Wah-Noble 90 7.27
7.40 99.62 195.63 201.89 3.30 8.50 3.15 11.00 208.00 15.47 11.18 132.86 38.65 45.19 12.49 147.82 14.66 1.81 2.05 2.39 122.52 13.25 10.09 36.02
8.39 103.00 205.41 204.00 3.43 8.70 3.25 11.00 209.44 15.65 11.80 136.48 38.90 47.44 12.85 151.39 14.87 1.90 2.09 2.50 122.00 13.45 10.09 37.82
7.65 99.50 196.30 198.00 3.13 8.50 3.10 11.00 203.85 15.25 11.10 132.90 38.11 44.01 12.30 146.99 14.36 1.66 1.97 2.10 122.00 13.20 9.15 36.25
Close Chg 7.67 100.27 205.37 201.21 3.25 8.51 3.16 11.00 208.26 15.31 11.67 135.91 38.42 46.97 12.64 151.05 14.52 1.74 1.99 2.33 122.00 13.39 10.05 37.82
0.27 0.65 9.74 -0.68 -0.05 0.01 0.01 0.00 0.26 -0.16 0.49 3.05 -0.23 1.78 0.15 3.23 -0.14 -0.07 -0.06 -0.06 -0.52 0.14 -0.04 1.80
Close 1,493.60 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 5515 12522 155856 106882 92611 93906 1102035 3000 5130218 394427 7402229 3418933 10769344 5821 175054 617369 11696910 20610 728036 5999 3789 134814 1023 10950
Change 15.03 Market cap 336,794.28 mn Div Yield (%) 5.35
11.50 103.94 205.41 204.98 3.74 9.25 4.24 13.79 210.45 15.87 11.80 136.48 39.24 47.44 13.07 152.49 15.04 2.50 2.74 3.40 139.40 14.69 11.75 43.75
7.16 73.10 149.72 165.73 2.05 3.50 1.32 9.15 174.60 12.90 9.16 106.01 28.90 38.03 11.00 120.60 8.71 0.80 1.32 1.80 101.00 8.17 8.51 32.00
% Change 1.02 5-Day High 1,493.60 5-Day Low 1,427.62
2010 Div BR (%) (%) 5 15 40 15 40 95 17.5 20 55 25 50
10R 5B -
2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,229.24 Turnover 417,472 P/E (x) 5.97 Company
High Low 1,255.78 1,209.99 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 7.47
Close 1,235.13 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 411
6.91
18.77 44.80
19.69 45.00
18.10 44.66
19.00 0.23 44.80 0.00
414970 2502
Century Paper Security Paper
Change 5.89 Market cap 3,422.75 mn Div Yield (%) 4.23
Last 60 days High Low 19.69 47.70
15.28 38.00
% Change 0.48 5-Day High 1,239.71 5-Day Low 1,226.02
2010 Div BR (%) (%) 50
-
2011 Div BR (%) (%) -
-
Paid up Cap(mn)
PE
Open
Agriautos Ind 144 5.83 75.52 Atlas Battery 101 5.78 195.15 Atlas Engineering Ltd 247 18.03 19.19 Atlas Honda 626 9.57 133.50 Baluchistan Wheels Ltd. 133 5.92 32.13 Dewan Motors 890 2.27 General Tyre 598 22.17 25.92 Ghandhara Nissan 450 3.38 5.00 Honda Atlas Cars 1428 - 11.36 Indus Motors 786 5.97 260.47 Pak Suzuki 823 11.46 71.54 Sazgar Engineering 150 3.94 20.80
High
High Low 1,237.03 1,221.85 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 25.35 Low
Close Chg
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
Open
High
Low
565 4.16 675 555 9.81 1199 12.03 785 10.91
27.35 2.60 15.83 57.44 9.75
27.45 2.68 15.80 58.00 9.60
26.63 2.52 15.41 57.40 9.55
Close Chg 26.63 2.60 15.70 57.75 9.60
-0.72 0.00 -0.13 0.31 -0.15
Close 1,071.76 Listed cap 3,596.11 mn Payout (%) 30.91
Volume 6954 26105 19734 67680 700
28.45 3.39 16.51 62.20 10.70
24.00 2.00 12.50 44.00 8.00
2010 Div BR (%) (%) 30 40 7.5
Close 1,232.74 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change 4.75 Market cap 45,012.10 mn Div Yield (%) 4.55
Company
Paid up Cap(mn)
Abdullah Shah Ghazi Sugar 793 Adam Sugar 58 AL-Noor Sugar 186 Bawany Sugar 87 Chashma Sugar 287 Clover Pakistan 94 Colony Sugar Mills 990 Crescent Sugar 214 Dewan Sugar 365 Faran Sugar 217 Habib SugarSPOT 600 Habib-ADM Ltd 200 Haseeb WaqasSPOT 324 J D W Sugar 490 Mehran SugarSPOT 143 Mirpurkhas SugarXDXB 84 Mirza Sugar 141 Mithchell’s Fruit 50 Mubarik Dairies 28 National Foods 414 Nestle Pakistan 453 Noon Pakistan 48 Noon Sugar 165 Pangrio Sugar 109 Premier Sugar 38 Quice Food 107 Sakrand Sugar 223 Sanghar Sugar 119 Shahtaj Sugar 120 Shakarganj Mills 695 Sindh Abadgar 104 Tandlianwala 1177 Wazir Ali 80
PE
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Buxly Paints Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Thatta Cement
PE
Open
High
Low
1828 866 6.62 858 182 3257 14 956 24.09 982 13.15 948 3891 3651 124.67 6933 15.09 1760 77 2319 1288 13126 3234 6.66 5261 1.30 2228 200 798 428.50
3.15 62.51 2.90 21.66 18.10 14.00 10.90 1.80 2.98 2.11 30.14 4.99 1.78 1.56 7.44 6.49 3.24 74.78 2.80 7.00 6.50 18.00
3.27 63.10 2.95 21.80 19.10 14.75 10.60 1.88 3.00 2.27 30.40 5.09 1.80 1.80 7.95 6.60 3.30 75.25 2.89 7.05 7.00 17.45
3.10 62.50 2.26 21.35 17.10 14.25 10.60 1.71 2.27 2.11 29.71 4.91 1.72 1.51 7.50 6.45 3.19 73.90 2.77 6.86 6.99 17.02
Close 991.31 Listed cap 54,792.74 mn Payout (%) 19.04
20B -
Change -4.00 Market cap 71,236.91 mn Div Yield (%) 2.38
Close Chg
Volume
Last 60 days High Low
3.12 62.93 2.70 21.70 19.10 14.25 10.60 1.71 2.59 2.13 29.92 4.98 1.77 1.62 7.87 6.47 3.21 74.10 2.79 6.95 7.00 17.14
5553 34631 128 4940 548 1574 2029 4501 328 32304 2007573 382995 91259 22537 3051 4914 200157 1110013 113087 78503 16400 1000
3.98 65.99 4.24 24.16 24.80 15.50 12.75 2.49 3.49 3.10 32.10 5.55 2.25 5.00 9.19 8.70 3.79 79.98 3.30 8.58 7.50 22.24
-0.03 0.42 -0.20 0.04 1.00 0.25 -0.30 -0.09 -0.39 0.02 -0.22 -0.01 -0.01 0.06 0.43 -0.02 -0.03 -0.68 -0.01 -0.05 0.50 -0.86
2.80 57.60 1.10 14.12 17.10 7.91 10.00 1.31 1.11 1.40 25.20 4.72 1.60 1.18 2.70 5.80 2.76 69.20 2.66 6.52 5.25 17.02
2011 Div BR (%) (%) -
-
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
% Change -0.40 5-Day High 1,004.70 5-Day Low 991.31 2011 Div BR (%) (%) -
-
GENERAL INDUSTRIALS
Company
Paid up Cap(mn)
PE
Open
High
High Low 1,061.68 1,037.48 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91 Low
Close Chg
Cherat Papersack 115 2.82 79.30 80.90 78.01 79.26 ECOPACK Ltd 230 2.71 2.84 2.61 2.77 Ghani Glass 1067 4.77 51.19 52.00 50.50 51.91 MACPAC Films 389 3.26 3.40 3.02 3.02 Packages Ltd 844 66.82 131.00 132.00 130.00 130.30 Siemens Engineering XD 82 10.11 1216.00 1234.99 1210.00 1225.00 Tri-Pack Films 300 9.27 125.81 129.90 125.02 127.10
-0.04 0.06 0.72 -0.24 -0.70 9.00 1.29
Close 1,049.84 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change 3.70 Market cap 39,430.29 mn Div Yield (%) 5.35
Last 60 days High Low
94812 83.23 34.00 15013 3.30 1.82 8886 61.10 45.30 19907 4.05 1.60 18581 136.74 100.70 106 1381.00 1128.00 139897 129.90 98.10
2010 Div BR (%) (%) 20 25 900 -
25B 10B -
% Change 0.35 5-Day High 1,049.84 5-Day Low 1,032.36 2011 Div BR (%) (%) -
-
INDUSTRIAL ENGINEERING Performance of SR Industrial Engineering Index Open 1,551.06 Turnover 114,055 P/E (x) 8.49 Company
Paid up Cap(mn)
AL-Ghazi Tractor Dewan Auto Engineering Ghandhara Ind KSB Pumps Millat Tractors XB Pak Engineering
PE
Open
215 5.66 235.87 214 1.32 213 11.82 12.50 132 7.38 61.49 366 6.85 522.65 57 543.03 205.77
High
High Low 1,565.12 1,541.86 Total cos Defaulter cos P/BV (x) ROE (%) 3.23 38.02 Low
Close Chg
236.73 234.00 236.10 0.23 1.70 1.25 1.26 -0.06 12.80 12.12 12.77 0.27 61.79 60.60 61.63 0.14 526.00 521.31 523.60 0.95 216.05 195.49 195.49 -10.28
Close 1,549.21 Listed cap 1,336.62 mn Payout (%) 131.49
Volume 2332 16021 57986 804 36698 104
Change -1.85 Market cap 33,697.01 mn Div Yield (%) 15.49
Last 60 days High Low 240.00 2.40 14.80 78.90 529.90 324.80
200.00 0.21 10.55 58.81 442.55 195.49
2010 Div BR (%) (%) 150 650 100
High
Last 60 days High Low 77.50 197.00 20.19 143.80 36.72 2.89 25.94 5.67 13.40 282.45 77.90 26.00
65.75 139.24 15.00 94.65 29.00 1.20 21.00 4.12 10.50 220.50 66.75 17.92
2010 Div BR (%) (%) 90 100 25 20 150 10
2011 Div BR (%) (%)
20B 20B
-
-
840.05
MA (10-day)
1.75
Total Equity (Rs in mn)
(309.63)
MA (100-day)
1.79
Revenue (Rs in mn)
MA (200-day)
2.19
Interest Expense
1st Support
1.64
Loss after Taxation
(23.38)
2nd Support
1.59
EPS 10 (Rs)
(0.390)
1st Resistance
1.75
Book value / share (Rs)
2nd Resistance
1.81
PE 11 E (x)
Pivot
1.70
PBV (x)
913.02 88.07
(5.16) (0.32)
DSIL closed down -0.06 at 1.65. Volume was 30 per cent below average and Bollinger Bands were 25 per cent wider than normal. The company's loss after taxation stood at Rs31.558 million which translates into a Loss Per Share of Rs0.53 for the 1st quarter of current fiscal year (1QFY11). DSIL is currently 24.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of DSIL (bearish). Trend forecasting oscillators are currently bearish on DSIL.
PACE Pakistan Limited
Low
Close Chg 0.75 0.50 -0.21 0.45 0.20 -0.38 0.39 1.00 -0.14 0.48 -0.39 -0.04 0.80 -0.60 -0.61 0.70 0.05 1.34 -0.75 -0.11 20.94 0.88 -0.29 0.03 -1.00 0.18 0.01 0.09 1.04 -0.43 0.12 1.70 -0.28
Close 1,669.92 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change -4.69 Market cap 227,101.73 mn Div Yield (%) 0.78
Last 60 days High Low
317 8.54 4.06 11400 20.50 11.51 4900 53.02 41.00 24820 6.73 0.86 201 15.47 8.50 3357 78.22 42.61 54551 5.70 2.60 18468 6.90 5.00 9255 5.59 1.25 5235 21.73 18.75 95356 36.50 29.00 6017 13.35 11.69 127 23.62 16.50 11647 92.50 67.00 4499 68.49 50.50 6027 68.22 48.11 806 7.18 4.20 666 89.90 61.50 1000 4.00 2.00 1295 75.50 39.01 1130 2550.00 1830.00 251 27.30 17.51 1303 14.84 9.03 800 6.99 4.25 148 53.81 34.29 37500 3.40 2.02 3000 3.90 2.11 2033 15.00 13.00 17154 100.26 56.01 10476 7.88 4.00 530 11.20 4.75 2242 37.27 28.50 600 8.89 4.75
2010 Div BR (%) (%)
% Change -0.28 5-Day High 1,691.69 5-Day Low 1,669.92 2011 Div BR (%) (%)
25 50 10 15 25 25 25B 40 10 7010B 12.5R 35 20B 15 20B 10 40 12 450 12 10 10 15 10 -
-
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
30.63
Total Assets (Rs in mn)
MA (10-day)
2.63
Total Equity (Rs in mn)
6,486.15
MA (100-day)
2.79
Revenue (Rs in mn)
10,559.36 1,649.34
MA (200-day)
3.60
Interest Expense
211.21
1st Support
2.33
Profit after Taxation
633.16
2nd Support
2.29
EPS 10 (Rs)
2.270
1st Resistance
2.49
Book value / share (Rs)
23.26
2nd Resistance
2.61
PE 11 E (x)
Pivot
2.45
PBV (x)
0.10
PACE closed down -0.10 at 2.43. Volume was 18 per cent below average and Bollinger Bands were 40 per cent wider than normal. The company's loss after taxation stood at Rs108.886 million which translates into a Loss Per Share of Rs0.39 for the 1st quarter of current fiscal year (1QFY11). PACE is currently 32.4 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 moderate flows of volume out of PACE (mildly bearish). Trend forecasting oscillators are currently bearish on PACE.
Silkbank Limited
HOUSEHOLD GOODS Open 1,153.49 Turnover 120,763 P/E (x) 2.88
% Change -0.59 5-Day High 1,089.97 5-Day Low 1,071.76
Performance of SR General Industrials Index Open 1,046.14 Turnover 297,202 P/E (x) 2.91
Open
High Low 1,689.75 1,651.32 Total cos Defaulter cos P/BV (x) ROE (%) 11.85 30.30
11.16 5.50 6.50 6.25 6.25 1.24 19.50 20.00 19.50 20.00 3.69 50.71 51.20 50.50 50.50 5.00 5.50 5.00 5.45 1.11 10.80 11.00 10.80 11.00 12.21 75.10 75.10 72.03 74.72 3.35 3.60 4.00 3.05 3.99 5.25 6.25 6.20 6.25 3.87 3.98 3.66 3.73 4.11 20.00 20.50 19.55 20.48 7.32 32.97 33.00 32.50 32.58 11.39 12.34 12.45 12.25 12.30 16.52 22.50 23.62 22.50 23.30 3.09 87.75 88.00 87.00 87.15 3.48 59.50 59.74 57.02 58.89 4.44 52.51 54.00 53.00 53.21 0.63 6.15 6.30 6.20 6.20 9.46 85.88 89.90 81.61 87.22 2.75 2.15 2.00 2.00 22.41 60.18 61.00 59.05 60.07 27.12 2448.06 2470.00 2440.00 2469.00 3.67 24.79 25.68 23.60 25.67 9.71 10.65 9.32 9.42 0.92 6.24 6.27 6.25 6.27 4.48 46.98 49.30 44.64 45.98 2.70 2.97 2.60 2.88 1.35 2.79 2.97 2.70 2.80 1.29 14.40 14.50 14.25 14.49 - 58.95 61.89 56.01 59.99 5.40 6.30 4.53 4.97 5.34 10.98 11.10 11.00 11.10 327.27 34.30 36.00 35.90 36.00 7.78 7.50 7.50 7.50
Company
25B -
Open
High
Low
Close Chg
Volume
1174 231
3.70 2.54
15.04 21.21
15.01 21.40
14.60 21.00
14.68 -0.36 21.24 0.03
103299 17462
Pak Elektron Tariq Glass Ind
Change -23.06 Market cap 5,249.04 mn Div Yield (%) 2.18
Last 60 days High Low
2010 Div BR (%) (%)
15.62 21.40
17.5
12.90 15.90
10B -
% Change -2.00 5-Day High 1,160.62 5-Day Low 1,130.43 2011 Div BR (%) (%) -
-
PERSONAL GOODS Performance of SR Personal Goods Index Open 1,011.96 Turnover 5,363,535 P/E (x) 7.04 Company
Paid up Cap(mn)
Ali Asghar Textile AL-Qadir Textile Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Blessed Tex Mills Brothers Textile Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute Crescent Textile D M Textile D S Ind Ltd Dar-es-Salaam Data Textile Dawood Lawrencepur Din Textile Ellcot Spinning Gadoon Textile XD Ghani Value Glass Ghazi Fabrics Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Indus Dyeing J K Spinning Janana D Mal Jubilee Spinning Khalid Siraj Kohat Textile Kohinoor Ind Kohinoor Textile Land Mark Spinning Masood Textile Mohd Farooq Moonlite (PAK) Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Quetta Textile Ravi Textile Reliance Weaving Rupali Poly Safa Textile Saif Textile Sally Textile Salman Noman Samin Textile Sana Ind Saritow Spinning Service Fabrics Service Ind Shadman Cot Shahpur Textile Shahtaj Textile Shahzad Textile Suraj Cotton Thal Limited Treet Corp Zephyr Textile Ltd Zil Limited
222 76 2594 840 4493 33 76 76 141 64 98 1150 316 2442 238 492 31 600 80 99 514 204 110 234 75 326 716 3105 180 181 184 43 325 107 208 303 1455 121 600 189 22 145 1596 3516 560 174 130 250 308 341 40 264 88 42 134 55 133 158 120 176 140 97 180 180 307 418 594 53
High Low 1,022.98 1,002.88 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64
PE
Open
High
Low
23.75 9.39 6.46 0.50 0.47 5.29 0.30 0.75 35.32 3.63 4.29 51.15 0.54 0.62 0.75 7.63 0.73 0.75 3.63 3.80 2.33 0.93 0.26 0.53 3.67 2.14 1.96 5.84 3.41 0.75 0.68 0.65 4.90 10.00 0.37 0.21 2.54 4.96 3.44 0.29 7.91 1.93 0.46 0.42 0.88 5.39 9.64 5.13 3.62
0.95 7.01 4.20 23.25 9.50 11.35 13.28 636.71 1.68 47.25 0.40 3.08 920.11 2.50 1.14 23.50 2.71 1.71 2.56 0.51 43.42 25.38 20.99 69.00 27.80 4.40 3.91 46.67 3.55 241.39 6.00 15.00 2.51 0.91 1.00 1.65 5.69 1.50 19.54 1.25 11.16 0.82 23.50 67.98 10.11 10.25 39.91 1.54 8.84 37.45 5.10 4.49 4.50 5.49 5.95 46.50 2.00 0.29 229.68 11.00 0.42 19.15 6.05 38.10 127.14 60.59 4.39 55.75
0.95 8.01 4.23 23.60 9.61 12.35 13.45 642.90 1.68 49.61 0.50 3.10 959.00 2.47 1.38 22.50 3.00 1.76 2.55 0.51 44.50 25.38 21.08 69.00 29.00 4.45 4.00 46.99 3.65 250.00 6.10 16.00 3.51 0.70 1.00 1.73 5.80 1.01 20.54 1.49 12.16 0.83 23.89 68.65 10.50 10.25 41.90 1.55 9.61 39.00 6.00 4.70 4.20 6.00 5.95 46.00 1.76 0.16 239.00 12.00 0.33 20.00 7.05 40.00 128.30 61.00 3.90 55.60
0.95 7.00 4.11 23.00 9.35 12.00 13.45 630.00 1.00 49.50 0.49 2.94 910.01 2.30 1.06 22.33 1.99 1.65 2.50 0.51 42.56 25.36 20.50 66.75 29.00 4.45 3.90 45.00 3.50 229.33 6.00 15.49 2.30 0.70 1.00 1.50 5.08 1.01 20.25 1.10 10.16 0.35 23.30 67.25 10.00 10.00 41.90 1.45 8.60 38.75 6.00 4.45 4.06 4.50 5.95 45.00 1.00 0.16 228.75 10.50 0.32 19.20 7.00 39.00 125.95 60.40 3.90 53.03
Close Chg 0.95 7.12 4.13 23.27 9.38 12.35 13.45 638.28 1.10 49.61 0.49 3.10 941.00 2.32 1.06 22.33 2.35 1.65 2.55 0.51 43.48 25.38 20.56 68.75 29.00 4.45 3.98 46.14 3.50 239.68 6.10 16.00 2.30 0.70 1.00 1.51 5.14 1.01 20.25 1.11 12.01 0.50 23.57 68.09 10.10 10.25 41.90 1.50 9.27 39.00 6.00 4.56 4.20 6.00 5.95 45.33 1.75 0.16 230.97 10.60 0.33 20.00 7.02 39.25 126.04 60.54 3.90 54.15
0.00 0.11 -0.07 0.02 -0.12 1.00 0.17 1.57 -0.58 2.36 0.09 0.02 20.89 -0.18 -0.08 -1.17 -0.36 -0.06 -0.01 0.00 0.06 0.00 -0.43 -0.25 1.20 0.05 0.07 -0.53 -0.05 -1.71 0.10 1.00 -0.21 -0.21 0.00 -0.14 -0.55 -0.49 0.71 -0.14 0.85 -0.32 0.07 0.11 -0.01 0.00 1.99 -0.04 0.43 1.55 0.90 0.07 -0.30 0.51 0.00 -1.17 -0.25 -0.13 1.29 -0.40 -0.09 0.85 0.97 1.15 -1.10 -0.05 -0.49 -1.60
Close 1,009.91 Listed cap 47,070.70 mn Payout (%) 16.68
Volume 500 4602 249770 6146 832339 14106 623 1285 168 462 220 31540 498 10001 61481 316 5200 113963 2000 710 3028 110 5148 4010 995 2000 1543 107370 4699 203 7899 6015 1908 154 10000 10054 41822 900 1701 3385 497 7138 829406 2590069 17009 6036 101 189603 5251 1801 2670 2195 11097 266 1992 300 18991 500 18843 1754 1398 6490 1635 17499 6635 59461 1000 14313
Change -2.05 Market cap 137,210.64 mn Div Yield (%) 2.37
Last 60 days High Low 1.50 8.50 11.98 24.59 12.32 17.85 14.50 747.48 2.80 51.90 1.49 3.90 965.00 3.33 1.38 23.99 3.00 2.37 4.50 0.90 47.00 27.54 22.20 71.40 41.20 5.05 4.88 47.50 4.45 350.15 9.50 19.40 5.50 1.25 1.50 2.00 5.97 4.00 21.40 2.08 12.16 0.95 25.14 69.49 10.50 11.25 47.00 1.99 11.69 39.00 6.00 6.85 6.20 6.00 8.00 48.95 2.99 0.48 276.50 13.00 1.01 21.90 7.25 40.00 132.00 63.30 4.90 58.99
2010 Div BR (%) (%)
0.61 3.00 10 4.00 30 19.10 20 9.20 8.10 - 15B 10.82 20 446.00 0.61 45.25 50 0.15 2.94 695.95 2.17 0.16 17.89 15 1.45 1.52 1.75 0.11 36.10 5 20.80 20 10B 17.21 35 38.30 70 25.70 25 2.55 10 3.35 10 34.05 20 2.60 10 209.03 50 4.05 20 5B 13.25 2.30 0.28 0.51 1.10 4.82 1.00 18.01 15 100R 0.50 4.50 0.14 17.82 15 48.91 25 45R 5.25 7.65 10 10B 25.80 20 1.26 8.01 25SD 31.25 40 2.76 3.10 3.57 10 2.01 5B 5.11 - 100R 28.40 60 1.00 0.16 169.00 7.00 0.18 15.61 45 3.76 5 29.00 50 86.50 80 20B 37.50 2.35 36.00 35 -
% Change -0.20 5-Day High 1,013.09 5-Day Low 1,007.63 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
54.91
Total Assets (Rs in mn)
MA (10-day)
2.70
Total Equity (Rs in mn)
MA (100-day)
2.73
Revenue (Rs in mn)
5,913.32
MA (200-day)
2.95
Interest Expense
5,855.52
1st Support
2.73
Loss after Taxation
2nd Support
2.66
EPS 09 (Rs)
1st Resistance
2.92
Book value / share (Rs)
2nd Resistance
3.04
PE 10 E (x)
Pivot
2.85
PBV (x)
Open 984.77 Turnover 76,389 P/E (x) 7.66 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) Searle Pak
Paid up Cap(mn) 979 250 1707 165 306
PE
Open
9.47 108.16 6.67 88.08 15.17 84.99 8.23 29.46 5.53 62.86
High
High Low 992.56 972.28 Total cos Defaulter cos P/BV (x) ROE (%) 1.71 22.31 Low
Close Chg
108.10 107.50 108.02 -0.14 89.40 87.55 88.25 0.17 85.48 84.01 84.34 -0.65 29.70 28.80 29.70 0.24 63.40 61.05 61.50 -1.36
2573 2871 4097 2769 64055
196.91
(2,902.91) (3.224) 0.22 12.76
Southern Electric Power Co Ltd
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
51.11
Total Assets (Rs in mn)
MA (10-day)
2.20
Total Equity (Rs in mn)
2,081.08
MA (100-day)
2.31
Revenue (Rs in mn)
11,457.73 5,541.96
MA (200-day)
3.03
Interest Expense
1st Support
2.18
Profit after Taxation
52.68
2nd Support
2.13
EPS 10 (Rs)
0.385
1st Resistance
2.30
Book value / share (Rs)
15.23
2nd Resistance
2.37
PE 11 E (x)
Pivot
2.25
PBV (x)
987.88
0.15
SEPCO closed up 0.03 at 2.25. Volume was 61 per cent below average (consolidating) and Bollinger Bands were 8 per cent narrower than normal. The company's loss after taxation stood at Rs86.56 million which translates into a Loss Per Share of Rs0.63 for the 1st quarter of current fiscal year (1QFY11). SEPCO is currently 25.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of SEPCO at a relatively equal pace. Trend forecasting oscillators are currently bearish on SEPCO.
BOOK CLOSURES Company
From
To
TRG Pakistan Shadman Cotton Mills# Kohinoor Mills# Mybank Ltd# Summit Bank# Ellcot Spinning Mills# Prosperity Weaving Mills# Mehran Sugar Mills Habib Sugar Mills Dawood Lawrencepur Lakson Tobacco Haseeb Waqas Sugar Mills Sanghar Sugar Mills Nagina Cotton Mills (TFC) Standard Chartered Bank Sindh Abadgar's Sugar Mills Shahtaj Sugar Mills Shashma Sugar Mills The Premier Sugar Mills
12-Jan 12-Jan 13-Jan 13-Jan 13-Jan 14-Jan 14-Jan 14-Jan 15-Jan 15-Jan 18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 19-Jan 20-Jan 21-Jan 21-Jan
20-Jan 18-Jan 20-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 29-Jan 21-Jan 25-Jan 25-Jan 31-Jan 25-Jan 01-Feb 28-Jan 01-Feb 30-Jan 30-Jan
D/B/R 10,10(B) 25,25(B) 10 15 10 10 10
Spot AGM/Date 06-Jan 07-Jan 10-Jan 11-Jan 12-Jan -
20-Jan 18-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 21-Jan 29-Jan 21-Jan 25-Jan 25-Jan 31-Jan 25-Jan 28-Jan 27-Jan 31-Jan 31-Jan
INDICATIONS
Close 980.58 Listed cap 3,904.20 mn Payout (%) 44.54
Volume
68,664.34
SILK closed down -0.14 at 2.79. Volume was 107 per cent above average and Bollinger Bands were 0 per cent narrower than normal. The company's loss after taxation stood at Rs700.335 million which translates into a Loss Per Share of Rs0.32 for the nine months of current calendar year (9MCY10). SILK is currently 5.3 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SILK (mildly bullish). Trend forecasting oscillators are currently bullish on SILK.
PHARMA AND BIO TECH
# Extraordinary General Meeting
Performance of SR Pharma and Bio Tech Index
2011 Div BR (%) (%) -
Close 1,130.43 Listed cap 3,763.71 mn Payout (%) 6.27
PE
% Change -0.12 5-Day High 1,556.93 5-Day Low 1,537.55
-
High Low 1,145.96 1,125.17 Total cos Defaulter cos P/BV (x) ROE (%) 0.31 10.64
Paid up Cap(mn)
CONSTRUCTION AND MATERIALS High Low 1,007.57 982.02 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 7.10
193920 15011 1000001 661 200000 71827 5791 15514 4713 4348 5423 22198
% Change 0.39 5-Day High 1,232.74 5-Day Low 1,213.07
Total Assets (Rs in mn)
FOOD PRODUCERS
Performance of SR Construction and Materials Index Open 995.32 Turnover 4,101,775 P/E (x) 8.01
-
36.86
Performance of SR Household Goods Index
Change -6.38 Market cap 10,479.45 mn Div Yield (%) 9.00
Last 60 days High Low
77.05 75.00 77.00 1.48 194.98 192.44 193.38 -1.77 20.19 20.19 20.19 1.00 134.00 130.50 132.00 -1.50 31.50 31.50 31.50 -0.63 2.38 2.17 2.31 0.04 25.94 25.00 25.72 -0.20 5.14 4.75 4.86 -0.14 11.50 11.30 11.30 -0.06 261.60 260.47 261.48 1.01 72.00 71.30 71.97 0.43 21.49 20.90 21.14 0.34
Open 1,674.61 Turnover 337,256 P/E (x) 39.10
Performance of SR Industrial Metals and Mining Index High Low 1,084.15 1,066.18 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 33.10
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
Performance of SR Food Producers Index
INDUSTRIAL METALS AND MINING Open 1,078.14 Turnover 121,173 P/E (x) 3.44
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,478.56 Turnover 34,593,035 P/E (x) 9.12
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,227.98 Turnover 1,539,410 P/E (x) 4.49
D. S. Industries Limited
% Change -0.28 5-Day High 731.22 5-Day Low 717.09
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
Change -4.19 Market cap 32,927.19 mn Div Yield (%) 5.82
Last 60 days High Low 112.50 113.00 89.98 30.48 64.50
89.88 82.20 68.13 23.50 59.00
2010 Div BR (%) (%) 20 30
20B -
% Change -0.43 5-Day High 989.01 5-Day Low 979.33 2011 Div BR (%) (%) -
-
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Lakson Tobacco Pak Tobacco Shifa Int.Hospitals Eye Television Media Times Ltd P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone
Open 53 3.24 91.07 1.65 128.63 296.5 111.07 31.64 24.49 45.5 2.41 49.49 2.53 20.21 2.15
High 55.65 3.45 90.99 1.65 135.06 296 115.85 33 23.35 43.25 2.52 49.33 2.57 20.5 2.01
Low Close 52.5 3.23 89.01 1.65 133 284 108.05 30.06 23.3 43.23 2.31 48.15 2.41 20.1 2.01
53.32 3.31 90.5 1.65 135.06 295 115.85 31.64 23.3 43.23 2.4 48.15 2.43 20.4 2.01
Change 0.32 0.07 -0.57 0 6.43 -1.5 4.78 0 -1.19 -2.27 -0.01 -1.34 -0.1 0.19 -0.14
Vol 1185 1946670 38101 500 596374 1004 3812 7737 1150 626 88706 665 691807 368145 500
7
Wednesday, January 12, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,143.09 Turnover 2,356,632 P/E (x) 6.15 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,148.80 1,124.05 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
78 4.94 37740 12.88 3000 0.65 8606 6175 -
80.00 19.44 2.19 2.63 3.50
80.00 19.49 2.23 2.72 3.59
79.02 19.10 2.16 2.61 3.49
80.00 19.32 2.18 2.64 3.52
0.00 -0.12 -0.01 0.01 0.02
Close 1,136.93 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 2860 1948929 91381 313462 52106
Change -6.15 Market cap 78,640.36 mn Div Yield (%) 10.17
106.00 20.12 2.69 3.45 4.25
76.50 18.21 2.11 2.40 3.35
% Change -0.54 5-Day High 1,148.29 5-Day Low 1,136.29
2010 Div BR (%) (%) 80 17.5 1 -
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 PICIC Ins Ltd Premier Insurance Reliance Insurance XB Silver Star Insurance United Insurance XB
204 6.36 369 6.12 279 8.82 457 6.88 121 1250 400 3.50 718 17.25 3000 42.49 350 303 6.76 252 4.05 253 4.37 400 2.38
Paid up Cap(mn)
Company
PE
Open
High
Low
Altern Energy 3426 23.57 Genertech 198 Hub Power 11572 7.12 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 10.28 Kohinoor Power 126 2.80 Kot Addu Power 8803 5.45 Nishat Chunian Power Ltd 3673 3.70 Nishat Power Ltd 3541 27.81 Southern Electric 1367 Tri-star Power XD 150 -
9.37 0.82 38.98 1.72 3.07 18.80 4.70 44.00 17.04 17.21 2.22 1.00
10.37 0.85 39.45 1.75 3.18 19.00 4.70 45.00 17.38 17.48 2.32 1.20
9.25 0.82 38.61 1.63 3.02 18.47 4.50 43.85 16.50 16.90 2.20 0.92
Close 1,352.16 Listed cap 95,369.29 mn Payout (%) 104.13
Change 3.13 Market cap 111,545.34 mn Div Yield (%) 6.79
Close Chg
Volume
Last 60 days High Low
10.37 0.82 38.88 1.70 3.05 18.50 4.59 44.84 16.89 17.24 2.25 0.92
4481 7402 3091216 77751 997766 16420 1075 4126847 4705648 899087 143062 1501
11.25 1.45 39.49 2.25 3.55 25.25 5.50 45.00 17.50 17.75 2.80 1.75
1.00 0.00 -0.10 -0.02 -0.02 -0.30 -0.11 0.84 -0.15 0.03 0.03 -0.08
9.00 0.60 33.10 1.33 2.03 17.95 4.01 38.35 11.40 12.50 2.05 0.71
% Change 0.23 5-Day High 1,352.16 5-Day Low 1,323.38
2010 Div BR (%) (%) 50 15 50 -
2011 Div BR (%) (%)
7.8R -
-
Open 856.93 Turnover 26,025 P/E (x) 5.68
10.50 38.52 77.63 11.01 4.00 42.34 14.72 93.00 16.57 10.00 12.50 6.60 7.04 7.25
0.00 -0.48 3.69 -0.40 -0.68 -0.48 -0.16 -1.00 -0.08 0.75 0.24 -0.34 0.21 0.44
7934 21810 16794 60711 111 25742 7169 2006 448951 2099472 1775 1430 3021 1030
12.75 39.90 77.63 12.00 5.85 48.63 15.39 99.88 17.20 10.25 12.93 7.70 8.17 7.40
10.00 28.82 49.25 9.45 3.10 35.60 10.15 74.00 13.61 2.05 8.30 6.15 6.01 4.71
Paid up Cap(mn)
High Low 861.22 839.35 Total cos Defaulter cos P/BV (x) ROE (%) 3.30 3.85
Close 849.92 Listed cap 2,290.72 mn Payout (%) 355.53
Company Sui North Gas Sui South Gas
High Low 1,566.41 1,539.80 Total cos Defaulter cos P/BV (x) ROE (%) 1.12 11.41
Change -0.99 Market cap 33,176.97 mn Div Yield (%) 6.77
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.03 3.30
27.06 21.84
27.35 22.00
26.95 21.56
26.99 -0.07 21.88 0.04
13985 99774
34.75 29.90
25.71 19.95
% Change -0.06 5-Day High 1,570.26 5-Day Low 1,537.18
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,185.01 Turnover 18,790,425 P/E (x) 8.46 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.89 70.95 Askari Bank 6427 8.47 17.71 Bank Alfalah 13492 13.85 10.94 Bank AL-Habib 7322 8.37 37.64 Bank Of Khyber 5004 5.52 4.23 Bank Of Punjab 5288 9.65 BankIslami Pak 5280 960.00 3.83 Faysal Bank 7309 4.80 15.13 Habib Bank Ltd 10019 7.68 123.56 Habib Metropolitan Bank 8732 8.70 28.80 JS Bank Ltd 8150 2.57 KASB Bank Ltd 9509 2.47 MCB Bank Ltd 7602 10.13 224.44 Meezan Bank 6983 10.03 19.04 Mybank Ltd 5304 2.71 National Bank 13455 6.76 77.10 NIB Bank 40437 3.09 Samba Bank 14335 2.02 Silkbank Ltd 26716 2.93 Soneri Bank 6023 7.85 Stand Chart Bank 38716 12.92 8.40 Summit Bank Ltd 5000 3.76 United Bank Ltd 12242 7.82 66.63
High
High Low Close 1,204.68 1,173.36 1,192.82 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.18 13.94 40.49 Low
Close Chg
71.35 70.05 70.91 -0.04 17.95 17.52 17.79 0.08 11.10 10.77 10.80 -0.14 39.49 37.40 38.83 1.19 4.28 4.10 4.14 -0.09 9.75 9.35 9.42 -0.23 3.97 3.79 3.84 0.01 15.40 14.85 14.87 -0.26 124.50 122.75 123.01 -0.55 28.66 28.00 28.46 -0.34 2.59 2.50 2.50 -0.07 2.50 2.45 2.46 -0.01 229.29 223.61 228.58 4.14 19.05 18.50 18.96 -0.08 2.84 2.62 2.70 -0.01 77.75 76.76 77.35 0.25 3.14 2.97 3.01 -0.08 2.03 1.96 2.03 0.01 2.97 2.78 2.79 -0.14 7.90 7.65 7.70 -0.15 8.50 8.11 8.40 0.00 3.72 3.55 3.59 -0.17 67.12 65.85 66.51 -0.12
Volume
Change 7.81 Market cap 717,983.27 mn Div Yield (%) 4.78
Last 60 days High Low
96783 72.99 835387 18.10 746935 11.52 1083878 39.49 19664 4.70 4212304 10.59 93388 4.20 218031 17.10 329849 126.80 65405 29.28 32001 3.00 7302 2.90 1501995 232.00 47168 20.30 53075 3.10 2547738 78.41 1788556 3.35 193219 2.65 3608520 3.05 39887 8.48 13439 9.04 50126 4.23 1255901 70.65
52.25 14.51 8.70 31.44 2.76 8.04 2.77 13.55 98.51 19.00 2.25 2.16 193.70 14.50 1.90 63.53 2.59 1.51 2.50 5.80 6.15 2.60 52.10
% Change 0.66 5-Day High 1,192.82 5-Day Low 1,184.74
2010 Div BR (%) (%)
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 791.75 Turnover 4,222,124 P/E (x) 15.84 Paid up Cap(mn)
Company Adamjee Insurance
High Low 805.85 785.68 Total cos Defaulter cos P/BV (x) ROE (%) 0.82 5.20
Close 794.17 Listed cap 11,111.34 mn Payout (%) 79.54
Change 2.43 Market cap 48,923.08 mn Div Yield (%) 5.02
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 26.34
89.72
91.80
89.80
90.88 1.16
1524128
91.80
65.55
% Change 0.31 5-Day High 794.17 5-Day Low 777.95
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
UP TO 100 VOLUME
-
Symbols MQTM FASM LIBM FECTC BCL PAKMI UPFL FECM TATM GRAYS DMTM AGICR MEHT FZTM ULEVER COTT GUSM JVDC GSPM HMIM ICL IBLHL CWSM HUSS HINO ESBL ILTM TSMF CPAL PGLC EWLA NJICL PKGI SHNI UVIC IDEN ARPAK HADC ASFL SIBL AZAMT IDSM WYETH PHDL FPJM GRYL BAFS SALT ISTM FECS SHSML EXIDE RMPL STCL NBF FIBLM FTSM DFSM FZCM HAJT KOSM PRET ICCT PRWM YOUW STML AGL AASM AABS TICL KESCR1 TREI PGCL DIIL DREL PSEL
% Change -0.82 5-Day High 862.73 5-Day Low 849.92
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
74.00
73.55
72.10
72.25 -1.75
9504
86.95
61.02
-
-
-
-
New Jub Life Insurance
627 29.19
42.15
2010 Div BR (%) (%)
2011 Div BR (%) (%)
43.70
41.50
43.50 1.35
16511
49.31
39.95
-
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 403.21 Turnover 2,836,809 P/E (x) 11.19 Paid up Cap(mn)
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Saudi Pak Leasing Stand Chart Leasing Trust Inv Bank
High Low 409.98 393.88 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 0.91
PE
Open
High
Low
225 1.57 360 3.51 450 13.23 3750 4.85 150 1.41 250 2121 17.44 600 700.00 2849 3166 626 0.65 7633 508 500 7.69 1000 27.42 1000 821 4.64 775 452 978 5.33 586 2.97
0.70 18.20 26.14 26.24 1.74 1.94 2.87 7.00 0.70 3.10 1.88 10.99 3.92 28.05 6.69 4.84 6.22 2.05 0.67 2.51 1.71
0.69 18.01 26.19 26.64 1.60 1.92 2.98 7.00 0.69 3.34 1.85 11.16 4.00 28.59 6.75 4.95 6.31 2.09 0.70 2.78 1.90
0.60 17.83 25.85 26.11 1.35 1.80 2.70 7.00 0.60 3.02 1.71 10.71 3.89 28.48 6.55 4.75 6.31 1.96 0.60 2.52 1.90
Close Chg
Close 398.11 Listed cap 30,336.44 mn Payout (%) 99.56
Volume
Change -5.10 Market cap 18,657.59 mn Div Yield (%) 3.41
0.69 17.83 25.94 26.40 1.58 1.80 2.79 7.00 0.68 3.11 1.81 10.79 3.91 28.59 6.58 4.80 6.31 1.99 0.69 2.56 1.90
-0.01 -0.37 -0.20 0.16 -0.16 -0.14 -0.08 0.00 -0.02 0.01 -0.07 -0.20 -0.01 0.54 -0.11 -0.04 0.09 -0.06 0.02 0.05 0.19
1030 881 44147 1826959 115 2502 4203 4996 26036 45409 11530 2074939 215521 510 95514 8160 209 207613 84527 7918 1000
% Change -1.26 5-Day High 405.54 5-Day Low 398.11
Last 60 days High Low
2010 Div BR (%) (%)
0.95 19.98 28.95 27.02 2.14 2.69 3.90 8.88 0.97 4.80 2.40 14.05 5.38 32.37 7.59 5.43 7.29 2.70 0.97 3.00 2.98
30 11.5 10 -
0.33 15.45 24.40 22.10 1.10 1.28 1.50 6.16 0.53 3.00 1.05 8.85 2.16 24.25 5.51 3.50 4.70 1.50 0.46 2.25 1.24
2011 Div BR (%) (%)
20B 20B 10B -
-
-
EQUITY INVESTMENT INSTRUMENTS
2011 Div BR (%) (%)
20 - 20B - 66R 55 -63.46R 10 -
-
850 41.05
Company
Company
Close 1,551.11 Listed cap 12,202.80 mn Payout (%) 66.79
25R 10B 20B -
Change -7.02 Market cap 9,924.80 mn Div Yield (%) 4.15
Performance of SR Gas Water and Multiutilities Index Open 1,552.10 Turnover 113,759 P/E (x) 9.86
10 10 -
EFU Life Assurance
-
GAS WATER AND MULTIUTILITIES
10.45 38.50 76.25 11.00 4.00 42.05 14.50 92.00 16.51 8.31 12.17 6.60 6.81 6.99
LIFE INSURANCE
Performance of SR Electricity Index High Low 1,372.78 1,334.73 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 9.35
10.51 39.00 77.63 11.75 5.00 43.25 15.00 95.50 16.90 10.25 12.93 6.60 7.14 7.30
Performance of SR Life Insurance Index
ELECTRICITY Open 1,349.02 Turnover 14,072,266 P/E (x) 15.33
10.50 39.00 73.94 11.41 4.68 42.82 14.88 94.00 16.65 9.25 12.26 6.94 6.83 6.81
Performance of SR Equity Investment Instruments Index Open 1,355.60 Turnover 1,252,163 P/E (x) 20.98 Company
Paid up Cap(mn)
1st Fid Leasing Allied Rental AL-Meezan Mutual F. Atlas Fund of Funds B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali Nat Bank Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Safeway Mutual Fund Stand Chart Modaraba U D L Modaraba
264 600 1375 525 780 65 200 524 581 760 397 1008 3180 1186 283 1200 184 250 1000 2835 2841 872 545 454 264
High Low 1,358.48 1,324.73 Total cos Defaulter cos P/BV (x) ROE (%) 0.46 2.21
PE
Open
High
Low
9.38 3.18 7.42 1.77 3.84 3.30 1.48 12.31 0.65 2.22 2.59 5.75 70.13 19.11 1.35 7.40 17.50 6.25 1.95 8.47 7.27 2.36 7.02 4.66 1.75
1.50 15.90 9.05 4.25 1.65 1.40 0.59 1.98 2.09 3.10 7.76 6.72 5.72 5.26 1.60 7.80 1.55 6.60 6.79 13.41 6.52 1.09 6.10 9.50 6.15
1.65 15.00 9.10 4.40 1.75 1.98 0.60 2.14 2.05 3.13 7.76 6.67 5.66 5.40 1.85 7.80 2.50 6.87 6.86 13.50 6.63 1.08 7.10 9.51 6.15
1.45 15.00 8.85 4.35 1.56 1.00 0.56 1.90 2.00 3.05 7.75 6.67 5.56 5.22 1.80 7.56 1.35 6.75 6.71 13.11 6.35 1.00 6.74 9.46 6.15
Close 1,338.84 Listed cap 29,771.58 mn Payout (%) 104.74
Change -16.76 Market cap 18,000.58 mn Div Yield (%) 7.76
% Change -1.24 5-Day High 1,359.09 5-Day Low 1,338.84
Close Chg
Volume
Last 60 days High Low
2010 Div BR (%) (%)
1.50 15.00 8.90 4.40 1.69 1.45 0.59 1.97 2.05 3.11 7.76 6.67 5.61 5.35 1.83 7.70 1.75 6.75 6.72 13.22 6.40 1.04 7.02 9.51 6.15
1130 1000 268183 104021 48897 2398 42771 34848 5255 17002 1149 1016 51022 310210 5002 5724 43074 400 21821 109563 156883 236 14010 1371 5000
2.00 16.00 9.15 4.80 2.79 1.99 1.10 2.37 2.28 3.80 8.49 7.00 5.89 5.40 2.23 8.25 2.50 7.74 7.18 13.71 6.74 1.19 8.49 10.29 6.99
22.5 18.5 2.2 0 1.2 17 11 21 5 10 2.8 15.5 10 10 20 10 3 18.2 17 12.5
0.00 -0.90 -0.15 0.15 0.04 0.05 0.00 -0.01 -0.04 0.01 0.00 -0.05 -0.11 0.09 0.23 -0.10 0.20 0.15 -0.07 -0.19 -0.12 -0.05 0.92 0.01 0.00
1.05 14.01 5.85 2.70 0.90 0.93 0.16 1.05 1.30 2.56 5.11 5.80 2.65 2.31 1.26 5.15 0.56 4.50 4.90 7.90 3.50 0.81 5.01 8.11 4.71
-
8.90 34.55 65.00 7.01 43.00 1.01 1090.50 3.20 38.00 48.60 4.99 0.80 59.00 414.90 4308.72 1.01 6.45 58.50 7.01 0.52 30.80 8.30 1.09 10.78 126.07 2.80 180.00 1.44 1.20 10.00 2.85 57.98 7.32 13.44 3.65 14.50 11.90 0.70 4.00 4.00 2.65 8.00 1030.85 34.00 1.27 1.46 59.50 65.29 7.25 44.23 10.40 204.19 2104.64 8.30 3.49 1.87 1.35 4.00 75.78 0.74 1.29 29.50 1.59 14.35 1.59 23.00 23.20 37.05 97.93 65.49 0.01 1.95 25.48 11.85 609.99 164.99
High 8.95 34.50 61.75 7.35 43.33 1.14 1111.00 3.10 36.95 50.00 5.20 0.41 60.49 435.64 4329.99 1.27 6.70 60.99 7.30 1.10 31.99 8.49 1.45 11.49 128.95 2.74 172.00 1.30 1.45 9.80 2.99 58.00 7.32 13.00 4.00 14.50 12.90 0.70 3.00 4.00 2.80 7.60 1082.00 34.00 1.60 1.91 61.00 67.00 7.45 42.99 10.59 208.97 2051.02 8.50 3.60 2.58 1.73 4.19 76.24 0.59 1.25 30.20 1.20 14.85 1.64 24.10 23.84 35.20 97.20 62.22 0.01 2.00 26.20 10.85 580.00 173.23
Low
Close
8.95 34.50 61.75 7.35 43.33 1.00 1045.00 2.75 36.30 48.50 4.02 0.41 60.49 404.00 4225.00 1.00 6.12 60.99 7.30 0.80 29.28 8.40 1.03 11.49 124.12 2.74 171.00 1.30 1.45 9.80 2.98 58.00 7.32 13.00 3.82 14.50 12.90 0.61 3.00 3.50 2.30 7.00 1000.01 34.00 1.29 1.65 60.00 62.03 6.25 42.99 10.20 208.97 2051.02 8.10 3.60 2.58 1.73 4.19 76.00 0.59 1.25 30.20 1.20 14.85 1.64 24.10 23.84 35.20 97.20 62.22 0.01 2.00 26.20 10.85 580.00 173.23
8.95 34.50 61.75 7.35 43.33 1.14 1111.00 3.10 36.95 48.50 4.11 0.41 60.49 405.45 4260.25 1.00 6.31 60.99 7.30 0.87 31.31 8.40 1.23 11.49 124.12 2.74 171.00 1.30 1.45 9.80 2.98 58.00 7.32 13.00 3.82 14.50 12.90 0.64 3.00 4.00 2.66 7.59 1054.67 34.00 1.58 1.91 60.00 67.00 7.45 42.99 10.40 208.97 2051.02 8.10 3.60 2.58 1.73 4.19 76.00 0.59 1.25 30.20 1.20 14.85 1.64 24.10 23.84 35.20 97.20 62.22 0.01 2.00 26.20 10.85 580.00 173.23
Change
Vol
0.05 -0.05 -3.25 0.34 0.33 0.13 20.50 -0.10 -1.05 -0.10 -0.88 -0.39 1.49 -9.45 -48.47 -0.01 -0.14 2.49 0.29 0.35 0.51 0.10 0.14 0.71 -1.95 -0.06 -9.00 -0.14 0.25 -0.20 0.13 0.02 0.00 -0.44 0.17 0.00 1.00 -0.06 -1.00 0.00 0.01 -0.41 23.82 0.00 0.31 0.45 0.50 1.71 0.20 -1.24 0.00 4.78 -53.62 -0.20 0.11 0.71 0.38 0.19 0.22 -0.15 -0.04 0.70 -0.39 0.50 0.05 1.10 0.64 -1.85 -0.73 -3.27 0.00 0.05 0.72 -1.00 -29.99 8.24
100 100 100 100 98 87 76 68 68 56 51 50 50 49 46 42 40 40 38 27 20 19 12 12 12 11 11 10 10 10 10 10 10 10 10 10 10 8 6 5 5 5 5 4 3 3 3 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
2011 Div BR (%) (%)
-
Open
Low
Close
ENGRO-JAN 209.26
210.50
205.00
208.89
POL-JAN
322.82
328.95
321.00
327.79
4.97 875,000
FFBL-JAN
38.87
39.09
38.31
38.64
-0.23 750,500
NBP-JAN DGKC-JAN
-
Open
77.62 30.35
High
78.15
77.21
30.48
29.95
Change
Vol
-0.37 962,000
77.81
0.19 428,000
30.10
-0.25 404,500
NML-JAN
67.91
68.60
67.50
68.12
MCB-JAN
225.68
229.95
224.05
229.34
3.66 240,500
PPL-JAN
224.38
226.70
222.66
224.22
-0.16 204,500
AICL-JAN
90.27
92.00
90.00
91.19
0.92 181,500
ANL-JAN
9.56
9.60
9.43
9.44
-0.12 160,500
FFC-JAN
133.62
137.00
133.75
136.75
3.13 154,500
PSO-JAN
296.56
296.75
294.10
294.44
-2.12 141,500
OGDC-JAN
-2.85 125,500
177.22
179.40
173.51
174.37
UBL-JAN
67.06
67.61
66.30
67.45
LUCK-JAN
75.10
75.49
74.50
0.21 345,500
0.39
39,500
74.59
-0.51
25,500
9.66
9.65
9.45
9.47
-0.19
15,500
39.35
39.35
39.35
39.35
0.00
2,000
NETSOL-JAN 20.40
20.40
20.40
20.40
0.00
1,000
BOP-JAN HUBC-JAN
ZERO VOLUME Symbols EWIC SHDT AHTM ARUJ HUSI TOWL DADX GAEL JOPP SAPL LPGL ISIL
Open 295.91 13.49 17.95 4.55 7.39 4.92 19.51 1.10 8.01 139.78 15.87 76.40
High 296.00 13.40 17.50 4.65 7.25 5.51 20.01 1.00 8.51 140.25 15.00 75.40
Low
Close
296.00 13.40 17.50 4.65 7.25 5.51 20.01 1.00 8.51 140.25 15.00 75.40
296.00 13.40 17.50 4.65 7.25 5.51 20.01 1.00 8.51 140.25 15.00 75.40
Change
Vol
0.09 -0.09 -0.45 0.10 -0.14 0.59 0.50 -0.10 0.50 0.47 -0.87 -1.00
0 0 0 0 0 0 0 0 0 0 0 0
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Kot Addu Power Co Ltd
Engro Corporation
Company
Date
Time
Babri Cotton Mills Ltd Janana De Malucho Textile Mills Ltd Quice Food Industries Ltd Masood Textile Mills Ltd Olympia Spinning & Weaving Mills Ltd Shadman Cotton Mills Ltd Byco Petroleum Pakistan Ltd Siemens (Pakistan) Engg Co Ltd Pakistan Petroleum Ltd Fauji Fertiliser Bin Qasim Ltd Unilever Pakistan Limited Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd
12-Jan 12-Jan 12-Jan 13-Jan 15-Jan 15-Jan 17-Jan 23-Jan 24-Jan 25-Jan 14-Feb 16-Feb 17-Feb
11:30 11:00 11:00 11:00 10:00 6:30 3:00 3:30 10:00 10:30 2:30 12:30 2:30
TECHNICAL LEVELS Company
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
Fair Value
Rs Recommendations
34.7
Sell
*Arif Habib Ltd
Accumulate
AKD Securities Ltd
*Arif Habib Ltd AKD Securities Ltd
32.06
70.21
Support 1
12,219.00
MA (5-day)
12,285.45
Support 2
12,170.85
MA (10-day)
12,132.69
Resistance 1
12,341.45
MA (100-day)
10,709.52
Resistance 2
12,415.70
Technical Analysis
MA (200-day)
10,395.57
Pivot
12,293.25
RSI (14-day) MA (10-day) MA (100-day)
KSE 100 INDEX closed down -39.49 points at 12,267.21. Volume was 13
TFD Research
29.1
find its 1st support level at and 2nd support level at .
TFD Research
Technical Outlook
Brokerage House
Fair Value
Rs Recommendations
176
Sell
*Arif Habib Ltd
238.8
Buy
AKD Securities Ltd
208.75
Free Float Shares (mn) 326.94 Free Float Rs (mn) 12,560.98 ** NOI Rs (mn) 100.66 Mean 38.52
* 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)
69.94 197.20 181.08 185.52
Rs Recommendations
47
Buy
48.7
Buy
46.05
Neutral
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
TFD Research
Neutral
Technical Outlook
Leverage Position
66.85 37.01 31.46 30.27
per cent above average and Bollinger Bands were 17 per cent wider than MA (200-day) normal. As far as resistance level is concern, the market will see major 1st resistance level at and 2nd resistance level at , while Index will continue to
Negative
Brokerage House
147.48 30,714.51 313.06 207.39
* 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)
80.83 42.13 40.71 41.92
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
176.05 7,894.11 N/A 44.42
* Target price for Jun-11 & **Net Open Interest in future market
FFBL closed down -0.23 at 38.42. Volume was 258 per cent above aver- ENGRO closed up 0.26 at 208.26. Volume was 245 per cent above aver- KAPCO closed up 0.84 at 44.84. Volume was 711 per cent above average
KSE 100 INDEX is currently 18.1 per cent above its 200-day moving aver- age (trending) and Bollinger Bands were 28 per cent wider than normal.
age (trending) and Bollinger Bands were 68 per cent wider than normal.
age and is displaying an upward trend. Volatility is extremely high when FFBL is currently 27.0 per cent above its 200-day moving average and is compared to the average volatility over the last 10 trading sessions. displaying an upward trend. Volatility is extremely high when compared to
ENGRO is currently 12.3 per cent above its 200-day moving average and KAPCO is currently 7.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to is displaying an upward trend. Volatility is extremely high when compared the average volatility over the last 10 trading sessions. Volume indicators to the average volatility over the last 10 trading sessions. Volume indicareflect very strong flows of volume into KAPCO (bullish). Trend forecasting tors reflect moderate flows of volume into ENGRO (mildly bullish). Trend oscillators are currently bullish on KAPCO. Momentum oscillator is current-
Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX.
the average volatility over the last 10 trading sessions. Volume indicators
Momentum oscillator is currently indicating that INDEX is currently in an reflect moderate flows of volume into FFBL (mildly bullish). Trend forecasting oscillators are currently bullish on FFBL. forecasting oscillators are currently bullish on ENGRO. overbought condition.
Hub Power Co Ltd
Fauji Fertiliser Co
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
*Arif Habib Ltd
127.8
Hold
*Arif Habib Ltd
AKD Securities Ltd
122.1
Accumulate
AKD Securities Ltd
Negative
TFD Research
TFD Research
114.33
80.18 129.37 111.23 110.34
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
373.19 50,720.24 282.39 134.54
Rs Recommendations
Brokerage House
* Target price for Jun-11 & **Net Open Interest in future market
Fair Value
Rs Recommendations
Brokerage House
Buy
*Arif Habib Ltd
317.2
Hold
AKD Securities Ltd
44
Buy
AKD Securities Ltd
296.6
Buy
TFD Research
Positive
TFD Research
44.9
71.33 37.82 35.32 34.59
Nishat Mills Ltd
45.7
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
ly indicating that KAPCO is currently in an overbought condition.
Pakistan Oilfields Ltd
Technical Outlook
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
(trending) and Bollinger Bands were 137 per cent wider than normal.
810.01 31,493.11 0.86 38.98
* 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)
80.56 308.26 253.91 241.88
59.97 74.2
Rs Recommendations Buy Neutral
Negative
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
281.35
Fair Value
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
107.94 35,254.98 292.52 324.64
* 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)
70.95 65.69 52.97 51.65
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
175.80 11,970.22 76.89 67.99
* Target price for Jun-11 & **Net Open Interest in future market
FFC closed up 3.05 at 135.91. Volume was 272 per cent above average HUBC closed down -0.10 at 38.88. Volume was 76 per cent above aver- POL closed up 3.82 at 326.61. Volume was 47 per cent above average NML closed up 0.11 at 68.09. Volume was 39 per cent below average and (trending) and Bollinger Bands were 218 per cent wider than normal.
age and Bollinger Bands were 1 per cent narrower than normal.
and Bollinger Bands were 76 per cent wider than normal.
Bollinger Bands were 41 per cent wider than normal.
FFC is currently 23.1 per cent above its 200-day moving average and is HUBC is currently 12.4 per cent above its 200-day moving average and is POL is currently 35.0 per cent above its 200-day moving average and is NML is currently 31.8 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is low as compared to the average displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect mod- the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into FFC (bullish). Trend forecasting reflect moderate flows of volume into HUBC (mildly bullish). Trend fore- erate flows of volume into POL (mildly bullish). Trend forecasting oscilla- reflect moderate flows of volume into NML (mildly bullish). Trend forecastoscillators are currently bullish on FFC. Momentum oscillator is currently casting oscillators are currently bullish on HUBC. Momentum oscillator is tors are currently bullish on POL. Momentum oscillator is currently indicat- ing oscillators are currently bullish on NML. Momentum oscillator is curindicating that FFC is currently in an overbought condition.
currently indicating that HUBC is currently in an overbought condition.
ing that POL is currently in an overbought condition.
rently indicating that NML is currently in an overbought condition.
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Limited Arif Habib Corp 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 Kot Addu Power K.E.S.C 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 Jah Siddiq Co Lotte Pakistan
RSI 1st 2nd (14-day) Support 43.70 3.05 3.00 67.91 70.20 69.45 51.05 62.60 62.25 47.26 25.80 25.65 59.74 26.10 25.85 65.09 89.85 88.85 63.05 17.55 17.30 36.40 9.30 9.20 68.95 341.40 335.20 70.65 133.00 130.20 52.00 10.70 10.55 63.11 3.75 3.70 43.24 9.25 9.10 48.30 2.05 2.00 49.71 29.60 29.30 56.71 3.10 3.00 37.06 2.50 2.45 40.91 41.85 41.35 39.00 71.70 71.20 69.94 204.90 201.60 47.24 14.70 14.50 45.99 4.90 4.80 66.85 38.05 37.70 80.18 133.70 131.50 61.75 122.35 121.65 71.33 38.50 38.15 66.61 148.25 145.40 60.80 260.75 260.05 47.55 3.85 3.80 48.57 1.65 1.55 45.17 2.45 2.40 80.83 44.10 43.40 60.04 3.00 2.90 44.55 73.60 73.05 63.52 225.05 221.50 40.95 2.75 2.70 68.71 76.85 76.30 58.85 23.30 23.00 71.52 20.15 19.95 52.96 2.95 2.85 53.59 1.95 1.90 70.95 67.35 66.60 59.19 171.40 168.70 30.63 2.35 2.30 38.58 1.95 1.90 54.29 2.30 2.20 49.27 6.85 6.75 80.56 321.85 317.10 66.19 221.20 219.40 55.01 71.50 71.05 53.66 291.60 290.50 49.00 19.10 18.90 56.56 206.10 205.35 44.39 26.85 26.70 51.23 13.25 13.10 52.71 21.60 21.35 43.24 2.15 2.10 30.44 3.20 3.10 57.97 65.85 65.20 42.55 2.60 2.55 44.21 10.60 10.45 68.15 14.30 14.05
1st
2nd
Resistance 3.20 3.35 71.50 72.05 63.20 63.45 26.15 26.35 26.65 26.90 91.85 92.85 18.00 18.20 9.55 9.70 351.40 355.20 137.60 139.40 11.00 11.20 3.95 4.05 9.65 9.90 2.25 2.35 30.30 30.70 3.25 3.30 2.70 2.75 43.05 43.75 73.15 74.10 210.50 212.75 15.25 15.60 5.05 5.15 38.85 39.25 137.30 138.70 124.10 125.15 39.35 39.80 152.65 154.20 261.90 262.30 4.05 4.10 1.75 1.80 2.60 2.65 45.25 45.70 3.15 3.25 74.95 75.75 230.70 232.85 2.85 2.95 77.80 78.30 23.90 24.20 20.55 20.75 3.10 3.20 2.05 2.15 68.75 69.40 177.95 181.90 2.55 2.65 2.05 2.15 2.50 2.60 7.05 7.15 330.00 333.40 225.60 228.20 72.20 72.45 294.60 296.50 19.50 19.70 207.80 208.75 27.25 27.50 13.50 13.60 22.05 22.25 2.25 2.30 3.45 3.55 67.15 67.75 2.70 2.75 11.05 11.35 14.80 15.10
Pivot 3.15 70.75 62.85 26.00 26.40 90.85 17.75 9.45 345.20 134.80 10.90 3.85 9.50 2.15 30.00 3.15 2.60 42.55 72.65 207.20 15.05 5.00 38.50 135.10 123.40 39.00 149.80 261.20 4.00 1.70 2.55 44.55 3.10 74.40 227.15 2.80 77.30 23.60 20.35 3.05 2.00 68.00 175.30 2.45 2.00 2.40 6.95 325.25 223.80 71.75 293.50 19.30 207.05 27.10 13.35 21.80 2.20 3.35 66.50 2.65 10.90 14.60
8
Wednesday, January 12, 2011
Kaira bros kick in edu plans LALAMUSA: Federal Minister for Information and Broadcasting Qamar Zaman Kaira and Punjab Finance Minister Tanvir Ashraf Kaira inaugurated various uplift projects including upgradation of colleges and schools costing Rs 500 million here. A ceremony was held at Municipal Committee Hall, while earlier the ministers unveiled the plaques of projects. Addressing the ceremony, Qamar Zaman Kaira said, "We are trying our best to resolve the problems of the people of the area." He said that various uplift projects to provide basic amenities to the people have been completed while a number of others are being completed for welfare of the people. He paid tribute to Punjab Finance Minister Tanvir Ashraf Kaira for getting generous financial grants from provincial government for development and prosperity of the area. Qamar Zaman Kaira said, with the up-gradation of the college the students of the area would get the facility of higher education at their doorstep. He said, the youths are an asset of the country and it constituted 62 per cent of the total population of Pakistan. He said that the development of any country depends on its young generation. He urged the youth to acquire modern
and higher education to be able to participate in the progress of the country. He said, the PPP-led coalition government is striving hard since the first day it took office to provide relief to the common man. He said that the government has taken number of steps to achieve this objective. The projects inaugurated by the ministers include city sewerage project costing Rs 170 million, special education centre for special boys costing Rs 80 million, up-gradation of Government Boys College costing Rs 43.5 million, 40bed Tehsil Headquarters Hospital costing Rs 140 million and Tauqir Shaheed Girls High school costing Rs 9 million. The information minister said these projects will be completed soon and would provide better health and education facilities to the youth of the area. Addressing the ceremony, Punjab Finance Minister Tanvir Ashraf Kaira paid homage to Shaheed Zulfikar Ali Bhutto, Shaheed Benazir Bhutto, Salman Taseer and Shaheed Tauqir Akram Kaira. On this occasion 'Fateha' was offered for the departed souls and the participants of the ceremony prayed to Allah Almighty to rest the departed souls in eternal peace.-APP
LUMHS gifts ambulances to 4 varsities HYDERABAD: The management of Liaquat University of Medical and Health Sciences (LUMHS) Jamshoro has donated ambulances to four public universities of the province for disaster management on their campuses. Vice Chancellor of Karachi University Dr Pirzada Qasim, Vice Chancellor of Sindh University Jamshoro Dr Nazir A Mughal, Vice Chancellor of Shah Abdul Latif University Khairpur Dr Nilofar Shaikh and Vice Chancellor of Sindh Agriculture University Tando Jam Dr AQ Mughal received the keys of ambulances for their respective varsities from Dr Naushad Ahmed, Vice Chancellor of Liaquat University of Medical and Health Sciences at a ceremony where Special Secretary to Governor Sindh Aftab Lodhi was the chief guest. All the Vice Chancellors highly lauded the goodwill gesture of Dr Naushad Ahmed Shaikh and hoped that such examples would continue to grow among sister institutes also in future. They maintained that at the moment when all public sec-
tors universities are experiencing financial constraints, the management of Liaquat University has come forward to set an example. Special Secretary to Governor Sindh Aftab Lodhi, who was inspired by the efforts of the Vice Chancellor of Liaquat University, said on the occasion that it was the first time, he witnessed such a gesture. He said that it was the honour of the public sector universities of Sindh which played vital role in addressing disasters such as floods and the role of the faculty members and the students of higher learning institutions of the province received high acknowledgement from the people. Sindh Governor Dr Ishratul-Ebad Khan was fully aware of the services, rendered by the public sector universities of the province during flood and highly appreciated such role of the universities, he said and added that on his directives, an acknowledgement ceremony would be held soon at the Governor House.APP
SU extends deadline for BBA admissions
HYDERABAD: Students presenting tableau during a seminar for education in Interior Sindh, organised by Sindhi Language Authority. -Online
Let merit appoint teachers, says advisor HYDERABAD: Advisor to Sindh Chief Minister Sarfraz Rajar has said that the introduction of merit in recruitment of the teachers in education department was the achievement of PPP and its commitment to improve standard of education, which would bring revolutionary change in the field of education and other sectors. The Advisor said this while addressing the academic and culture show organised by an NGO Sindh Friends Forum here at Mumtaz Mirza Auditorium of Sindh Museum, which was attended by a large number of academic fraternity, intellectuals, government servants and other high-ups. Sarfraz Rajar said that the education is the only source of development, prosperity and progress of any nation, but unfortunately previous rulers under deep rooted conspiracy had involved in deterioration of the educational system by planting illiterate teachers, inefficient management and they have also encouraged cheating culture to destabilise educational system in Sindh province. In addition to that, he said thousands of schools were closed down and converted into Autaqs (guest houses), however, he said that now it is the PPP government which has not only re-opened the thousands of closed schools but also is recruiting teachers through competitive examination under third party validity system to ensure merit and standard. Besides, incentives to the teachers and students have also been provided to ensure good enrolment, attendance and quality education, he added.-APP
Legendary Sindh Madressatul Islam takes an up-step KARACHI: Sindh Madressatul Islam Karachi is offering fouryear BS programmes in Mass Communication and Education. This was stated by the Principal of the institution Dr Muhammad Ali Shaikh, on Tuesday. He further pointed out that the classes are scheduled to commence from January 17. Dr Shaikh said that this is the first time in the history of Sindh Madressatul lslam's 125 years that it is now going to start degree classes with affiliation to University of Karachi. e stated that the students who have been enrolled at SMI College for BS Programme will receive the four year degree of the University of Karachi.-APP
Book festival at Pak-China Friendship Centre on 21st
ISB bibliophiles to feast on books ISLAMABAD: As an effort to make federal capital a knowledge city, the Department of Libraries, Ministry of Education will arrange a weeklong book festival at PakChina Friendship Centre from January 21. Talking to APP, Director General, Department of Libraries and National Library of Pakistan, Chaudhry Mohammad Nazir said that different departments working under Ministry of Education will display their activities and variety of books. The book festival will offer unique display of books on diverse subjects and help promote the book reading culture which is diminishing with the technological advancement in
the country. The Progress in science and technology impacted upon the reading habits and moral values, influencing younger generation toward excessive use of internet and mobiles, Nazir observed. Ch Nazir said that the department has planned to set up a public library in F-10 sector, following the international standards. The land has been acquired for the library and PC-1 of the project will be completed with an amount of Rs 500 million. To equip the librarians with the latest skills and training, the first ever `Resource Centre for Librarians' will be set up with an amount of Rs100 million. The project has been approved and the resource centre will be
activated soon, Nazir said. The books and magazines of National Library will be digitised under a project for which Japan would provide latest equipment worth Rs39 million in the next financial year. However, the work on digital preservation of the old books is already in progress, he said. Mobile library service will also be launched soon to ensure access of the citizens living in far flung areas to the books at their door steps, he said. The DG said that the first ever `National Library Act' to be formulated soon would serve as impetus to promote library culture in the country, making the profession of librarians as more prestigious.APP
Young Khi orators make a high mark KARACHI: Rabika Javed of St Joseph's College for women won the college level AllKarachi Speech Competition 2010 held here. The event was organised here by the Dhaka Group of Educational Institutions and Daira-e-Adab-o-Saqafat. Shahzadi Kanwal of Government Girls College for Women Korangi No 4 was declared second while the third position went to Mirza Subhan Baig of Pakistan Swedish Institute of Technology,
Quaidabad. According to organisers, the first three prizes carried awards of Rs50,000, Rs30,000, and Rs20,000 respectively. The Sindh Minister for Education, Pir Mazhar ul Haq, was the chief guest. In his speech on the occasion, he said that the youngsters are the asset of the country and the future leaders. Pir Mazhar said that the students should be provided with quality education so that they could play their future role in
an effective and able manner. He also pointed out that the Sindh Education Department has taken steps for raising the standard of education. The Minister also pointed out that the recruitment of teachers has been made purely on the basis of merit. The Principal of Government College for women, Prof Rubina Soomro, and Azfar Rizvi of Dhaka Group of Educational Institutions also spoke on the occasion.-APP
SU deans told to stay in touch with educatees HYDERABAD: Sindh University Vice Chancellors' Executive Council has approved the proposal that deans should work as administrator and look after the academic activities at their concerned faculties and also ensure visit to the institutes and departments to interact with students and resolve their problems. A university spokesman said on Tuesday that the matter was discussed in the 23rd meeting of the Vice Chancellors' Executive Council, which presided over by Vice Chancellor Prof Dr Nazir A Mughal. The meeting was attended
among others by the Pro-Vice Chancellors Dr Iqbal Ahmed Panhwar, Dr Rafia Ahmed Shaikh, Registrar Dr Muhammad Siddique Kalhoro, Advisor Planning and Development Muhammad Hussain Shaikh, Controller of Examinations Muhammad Nawaz Narejo and Consultant to Vice Chancellor on Higher Education Dr Muhammad Raees. The Vice Chancellor of Sindh University informed the meeting that on Monday night, some unidentified motorcyclists resorted to firing at the residence of his Protocol Officer Ghulam
Hyder Lashari at the University's Colony, which was reported to local police station. The Vice Chancellor expressed great concern over the law and order situation and said that he has centralised the entire security system of the campus under control of a Director Security Campus. The Vice Chancellor also highlighted academic reforms as recommended by 22nd meetings of the executive council and said that he fully desired to encourage young leadership for the betterment at academic and administration side of the university.APP
IHYDERABAD: The Director Admissions, University of Sindh (SU) has extended date for submission of admission forms for 2-year LL M, 2 year-MBA (executive) and 4-year BBA evening programmes up to January 21. According to Director Admissions, the candidates having 14 year education with 2nd division plus four years job/work experience will be eligible for admission to 2 year MBA executive programme. The candidate having HSC with at least 50 per cent aggregate marks while candidates with intermediate Arts must have offered one of the social science subjects, elective at HSC level will be eligible to submit application forms for admissions to 4year BBA evening programmes, he said. He informed that the candidates having LL B with 45 per cent marks will be eligible to apply for admissions to 2years LL M programme. He informed that admission forms are available at branches of Habib Bank Limited Old Campus Hyderabad and Jamshoro. The pre-entry test for admissions to LL M, will be conducted on January 23 at Elsa Kazi Campus Hyderabad.APP opportunity to visit local recreational spots.-APP
Bahria University convocation ISLAMABAD: As many as 553 students were awarded degrees in the convention center on the seventh Convocation of Bahria University Islamabad held here. 553 students were awarded degrees including 188 in absentia in various disciplines including business management, computer engineering, and software engineering, telecommunication & networking and environmental sciences. Only 14 students who made the difference during their academic years became gold medalists and 12 silver. As many as nine girls out of 14 were declared gold medalist. The situation was not so different for silver winners. Admiral Noman Bashir, Chief of the Naval Staff, who was the chief guest, while addressing the convocation said that it is a fact that less than five per cent of the total population of the country has access to higher education. He emphasised that the universities and other higher education institutes should open up their facilities and design non-degree and skilled oriented short courses to provide vocational training to youth not being able to opt for regular degrees programmes. Admiral Noman Bashir also advised the teaching faculty to prepare and groom students to cope with the daunting challenges of the time ahead. Universities should be quick to introduce such upcoming academic disciplines like Mass Communication, Media Studies, Public Administration and Developmental Studies Which demonstrate job opportunities for the youth, he added. -APP
9
Wednesday, January 12, 2011
Oil leaps on US Gulf, Alaska supply breaks
European vegetable oil prices
Brent premium over US crude widens to 23-month high
ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 1043.00-11.00, May11/Jul11 1055.00+0.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1085.00+0.00, Aug11/Oct11 1010.00+0.00, Nov11/Jan12 1015.00+0.00, Feb12/Apr12 1025.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1485.00-15.00, Apr11/Jun11 1450.00-10.00, Jul11/Sep11 1470.00-15.00, Oct11/Dec11 1365.00-10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Jan11/Feb11 1342.50+2.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1257.50, Feb11 1260.00-10.00, Mar11 1252.50-10.00, Apr11/Jun11 1232.50-12.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1277.50, Mar11 1272.50, Apr11/Jun11 1262.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1232.505.00, Mar11 1227.50-7.50, Apr11/Jun11 1217.50-5.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1240.00-5.00, Mar11 1235.007.50, Apr11/Jun11 1225.005.00, Jul11/Sep11 1202.507.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 1880.00+5.00, Feb11/Mar11 1875.00+10.00, Mar11/Apr11 1865.00+10.00, Apr11/May11 1855.00+10.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1995.00+0.00. Reuters
NEW YORK: US oil prices rose sharply on Tuesday as a shut production platform in the Gulf of Mexico curbed more supply on top of the shut Alaska crude pipeline still keeping more than half a million barrels per day of output offline. Chevron shut in a platform on Eugene Island Block in the US Gulf of Mexico after an upset on the structure on Monday, according to a filing with regulators. The Trans Alaska Pipeline System's main oil pipeline remained closed but was still expected to restart this week after a spill on Saturday forced it to shut down, according to a source familiar with its operations. Forecasts for below normal temperatures and above normal heating oil demand in the United States sent US heating oil futures to a 28-month high. US crude oil for February delivery rose $1.70, or 1.9 per cent, to $90.95 a barrel at 1650 GMT, having reached $91.20. In London, ICE Brent crude for February rose $1.88 to
Tokyo rubber rises but profit-taking caps gains BANGKOK: Tokyo rubber futures edged 1 per cent higher on Tuesday, tracking firm oil prices, but gains were capped by profit-taking and investors grew cautious about high prices, dealers said. The benchmark rubber contract for June delivery rose 4.8 yen, or 1.1 per cent, to settle at 439.9 yen per kg. "Players took profits when prices reached 440.0 yen, signalling 440 yen could be the key resistance," one dealer said. In a Reuters poll, TOCOM rubber futures were forecast to be at 440.0 yen per kg by the end of January and were likely to rise further to 450 yen by the end of February due to strong demand at a time when supply is thin. Asian physical rubber prices were higher on Tuesday, with benchmark Thai RSS3 being offered at a record high of $5.35 per kg as rain has disrupted tapping. -Reuters
$97.58 a barrel, having traded as high as $97.75. The premium for London's ICE Brent crude over the US light sweet crude benchmark, West Texas Intermediate, jumped as above $7 a barrel on Tuesday, pushing the spread to its widest since February 2009. Brent has traded above US crude since August last year,
supported by a combination of dwindling North Sea crude supplies and disruption of oil grades priced off it. Traders said if the disruption to the Alaskan pipeline lingers, it could result in shifting crude supplies priced off Brent to the US West Coast. "There is the possibility the pipeline will resume operations pretty soon, in fact 3-5 days from now, but if it doesn't, it will have a strong impact on the market," said Christophe Barret, global oil analyst at
Credit Agricole. "If the pipeline doesn't restart, the need to find other sources will impact crude oil prices in the Middle East." Barret said the wide Brent/US crude oil futures spread was due to a combination of high US oil stocks, maintenance work in the North Sea and some speculative trading in Brent. The problems with the A l a s k a n pipeline had added to the strength. US crude oil inventories probably rose by 400,000 barrels last week as imports rebounded, in what would be the first gain in six weeks, according to a preliminary Reuters poll before the release of weekly inventory reports. Industry group the American Petroleum Institute will publish inventory statistics at 2130 GMT on Tuesday, while the US Energy Information Administration will follow with government figures on Wednesday at 1530 GMT. -Reuters
Palm oil eases ahead of key USDA report KUALA LUMPUR: Malaysian crude palm oil eased on Tuesday, ahead of a key US Department of Agriculture report that will likely trim the agency's forecast for South American soy output due to a lingering dry spell. The USDA crop report due on Wednesday may also show lower soybean stocks driven by strong Chinese export demand, suggesting that food demand in Asia is still going strong. Lower soybean crops and ending stocks means less will be available for crushing into soyoil and buyers may have to rely more on palm oil. "Palm oil is retracing a little but it could start rallying in line with soyoil if the USDA shows a significant drawdown in soy stocks and a weaker soy crop in Argentina," said a trader with a foreign commodities brokerage.
"Part of the profit-taking in palm oil may have to do with the fact that Brazil could have a good soybean crop that will mitigate the losses in Argentina," the trader added. Benchmark March 2011 crude palm oil on Bursa Malaysia derivatives settled down 27 ringgit, or 0.7 per cent, at 3,703 ringgit($1,202) a tonne. Overall traded volume rose to 24,867 lots of 25 tonnes each, compared to the usual 15,000 lots. Malaysian investment bank Hwang-DBS expects palm oil supply to remain tight, as yields in the first two months of this year will fall further due to the impact of severe drought early last year. US soyoil for January delivery rose 0.3 per cent, while the most active September 2011 soyoil contract on China's Dalian Commodity Exchange inched up. -Reuters
LME copper climbs on corporate earnings LONDON: Copper prices climbed on Tuesday on a strong start to the corporate earnings season and expectations of improving 2011 demand, but lingering concerns over European debt tempered the rise. Benchmark copper on the London Metal Exchange closed at $9,510 a tonne from $9,321 on Monday. The metal used in power and construction hit a record high of $9,754 one week ago. "Generally a good performance, (there is) good buying coming in," Credit Agricole analyst Robin Bhar said. "But volatility is continuing to be a feature...There are concerns about the euro-zone...so that is capping the upside. I think any dips are there to be bought with an eye on the rest of 2011." Copper is widely expected to build on its nearly uninterrupted rally in the second half of 2010 as ore grades decline, new mines remain scarce and top buyer China grows. Investors are watching out for any signals of recovery in
the United States, the world's largest economy. On Tuesday, data showed that US wholesale
Shanghai copper surges Shanghai's benchmark third-month copper futures contract closed up one per cent at 70,510 yuan ($10,624) a tonne. Shanghai aluminium edged down 0.2 per cent to 16,850 yuan. inventories unexpectedly fell in November as wholesale sales outstripped forecasts, suggesting optimism about the sustainability of demand. Alcoa Inc, the largest US aluminium producer, reported a fourth-quarter profit on Monday and projected a 12 per cent rise in demand for the metal in 2011, driven by aerospace and auto manufacturing.
Its results have yielded optimism over the corporate earnings season that starts this week. Copper extended gains in later trade as the euro wiped out earlier losses to rise modestly against the dollar, with traders citing talk of increased Portuguese bond buying by the European Central Bank as helping lift the currency. Aluminium closed at $2,497 a tonne, from a $2,488 close. Lead closed at $2,595 a tonne, from the $2,586 close. Zinc closed at $2,406 a tonne, against $2,379 while stainless steel material nickel was untraded but bid at $24,695, up from $23,875, having lodged gains of some 3 per cent. Tin closed at $26,550 a tonne, versus a bid of $26,250 on Monday. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 10 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 10 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
2280 2300 2240 2260 2185 2195 2185 2195
2465 2466 2480 2481 2535 2540 2573 2578
9383.5 2641.5 9384 2642 9360 2615 9360.5 2616 9120 2535 9130 2540 8740 2485 8750 2490
24045 24050 24050 24055 23650 23750 22830 22930
TIN
ZINC NASAAC
26100 2366.5 26125 2367.5 26100 2379.5 26150 2380 25600 2393 25650 2398 2355 2360
2420 2425 2440 2450 2465 2475 2520 2530
Indian sugar weakens on sluggish demand MUMBAI: Indian sugar prices extended previous session's decline on Tuesday as weak demand forced mills to trim prices, though firmness in the overseas markets cushioned the downside, dealers said. "Millers were offering sugar at lower price in tender as they need money for cane payment. Prices are likely to remain under pressure for the next few days," said a member of the Bombay Sugar Merchants Association. Indian mills usually pay farmers a large chunk of the cane price immediately after or within a fortnight of harvesting. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety fell 0.68 per cent to 2,767 rupees ($61.25) per 100 kg. The most-traded M grade sugar contract for January delivery on India's National Commodity and Derivatives Exchange (NCDEX) closed 1 rupee lower at 2,811 rupees per 100 kg, recovering from a contract low of 2,796 rupees earlier. In early trades on Tuesday, New York March raw sugar and London white sugar futures rose over 2 per cent. -Reuters
HYDERABAD - INDIA: Indian farmers wrapped in woolens sit on top of a truck loaded with onions to be sold at a local market, on a cold and foggy winter morning in Hyderabad. -Agencies
Gold flats as euro fall curbs safe-haven gains LONDON: Gold steadied on Tuesday, as a late fall in the euro tempered some of the gains in the dollar price derived from safehaven flows stemming from deepening worries over the severity of the European debt crisis. The decline in the gold price to around one-month lows last week has encouraged an improvement in consumer demand in China
an ounce. The concerns in the fixedincome markets over the likelihood of an international bailout for Portugal, which would be the third in a year after the rescues of Greece and Ireland, have undermined investor confidence and given gold a boost. The world's largest goldbacked exchange-traded fund,
ahead of the Lunar New Year in early February, pushing premiums for gold bars to their highest in two years. After several weeks of almost unrelenting outflows, some of the larger exchange-traded funds backed by physical gold have also seen a pick-up in investor demand, in spite of the decline in the euro, which would normally erode appetite for gold. Spot gold was last largely unchanged on the day at $1,374.00 by 1525 GMT, while US gold futures for February delivery were up 0.1 per cent at $1,375.00. The spot price is about 4 per cent off December's record high of $1,430.95. Gold in euros extended gains, rising 0.2 per cent to 1,063.84 euros an ounce, notching up a fifth consecutive day of price rises, while gold in yen as up nearly 1 per cent at 114,694 yen
SPDR Gold Trust, said its holdings rose for the first time since mid-December to 1,272.682 tonnes by Jan. 10. Silver rose for a second session, up 1.1 per cent on the day to $29.52 an ounce. While silver enjoyed a large boost from investor interest and rising ETF holdings last year, many analysts say the price is vulnerable to a larger downward correction than gold given the extent of the price rise in the last 12 months and the metal's inherent volatility. Holdings of silver in the iShares Silver Trust, the biggest silver-backed ETF, have fallen by over 100 tonnes in the last month alone. Platinum was set for a fourth consecutive daily rise, up 1.0 per cent at $1,755.24 an ounce, while palladium rose 3.4 per cent, up for a second day, at $775.23. -Reuters
Sugar gains on Indian export woes; cocoa up LONDON: Raw sugar futures on ICE rose on Tuesday with possible delays to exports from India heightening concern about nearby supply tightness. A panel of Indian ministers will review 500,000 tonnes of sugar permitted for export, government sources said, as mounting pressure on the government to tackle high food price inflation has led to worries shipments could be delayed. Dealers said possible downward revisions to the crop outlook in India were also contributing to doubts about the level of exports from the world's second largest producer this season. Dealers also cited recent news that Algeria is to suspend customs duties and value added tax on imports of sugar as a supportive factor. The move was taken in response to riots over rising food prices. March raws rose 0.98 cent or 3.1 per cent to 32.72 cents a lb by 1607 GMT. Prices on Liffe were also higher with March whites up $30.60 or 3.95 per cent at $806.10 per tonne. Cocoa prices on ICE were firmer. Dealers said the market was building a base, supported by industry buying, following a downward drift as the risk premium linked to political tensions in top producer Ivory Coast eroded. See 3 17 Page 11
US cotton ends up in modest trade, USDA eyed NEW YORK: US cotton futures finished higher on Monday on speculative and possibly some mill buying, but business was moderate as most players awaited release of a key government crop report this week, traders said. Benchmark March cotton contract on ICE Futures US increased 2.65 cents to conclude at $1.4325 per lb, trading from $1.405 to $1.446. 'It's really lethargic,' Lou Barbera, cotton specialist at commodities brokerage VIP Commodities, said. 'It's more a lack of trade selling than quality
buying.' The level of interest by players was reflected in the volume of business. Contracts traded stood at around 16,700 lots, about 10 per cent below the 30day norm, Thomson Reuters preliminary data showed. Analysts said most market players were apparently sitting back to wait for release of the US Agriculture Department's monthly supply/demand report on Wednesday. Cotton industry analysts said the market will watch for any significant changes to world cotton supply figures, especially the numbers being released on China, the
world's top consumer, and India, the No. 2 producer of the fiber. Another factor would be the rebalancing by index funds who will be reducing risk from cotton and other overlyweighted agriculture markets and adding exposure to natural gas and crude oil. The rebalancing runs between this week and next. Investment bank JPMorgan Chase has estimated that nearly 14,000 cotton contracts could be offloaded under the exercise, which may pressure cotton futures despite bullish market fundamentals. -Reuters
National Commodity Exchange Ltd Trading Summary Date
11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011 11-Jan-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
FE11 MA11 AP11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 JA11 FE11 MA11 JA11 FE11 JA11 JA11 MON TUE WED THU FRI MON TUE WED THU FRI 13JA11 JA11 JA11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
88.50 89.60 91.51 28.75 28.77 1366.70 1367.50 1369.50 1366.30 1368.60 1369.50 37861.00 37975.00 37884.00 37833.00 37842.00 44128.00 44128.00 38949.00 38894.00 38908.00 38921.00 38935.00 45106.00 45440.00 45465.00 45312.00 45145.00 3384.00 3388.00 5203.00 86.24 85.32
89.87 91.07 92.15 29.55 29.52 1385.00 1385.40 1386.30 1384.70 1383.80 1383.80 38267.00 38276.00 38290.00 38239.00 38248.00 44601.00 44601.00 39347.00 39388.00 39305.00 39319.00 39333.00 45226.00 45491.00 45465.00 45314.00 45400.00 3384.00 3388.00 5203.00 86.24 85.35
88.17 89.60 90.87 28.74 28.77 1366.00 1367.00 1368.00 1366.00 1368.60 1369.50 37861.00 37869.00 37884.00 37833.00 37842.00 44128.00 44128.00 38949.00 38894.00 38908.00 38921.00 38935.00 44761.00 44699.00 44714.00 44730.00 44746.00 3372.00 3377.00 5201.00 86.23 85.32
89.75 91.07 92.12 29.50 29.52 1382.90 1383.80 1384.80 1382.90 1383.80 1383.80 38267.00 38276.00 38290.00 38239.00 38248.00 44601.00 44601.00 39347.00 39388.00 39305.00 39319.00 39333.00 45226.00 45273.00 45178.00 45194.00 45210.00 3372.00 3377.00 5201.00 86.23 85.35
Traded Volume in lots 390 67 2 249 1,840 1,627 1,915 48 14 2 3 1 6 4 -
Previous Settlement Price 89.35 90.68 91.76 29.16 29.18 1375.50 1376.50 1377.50 1375.50 1376.50 1377.50 38062.00 38071.00 38085.00 38034.00 38043.00 44363.00 44363.00 39139.00 39180.00 39098.00 39112.00 39126.00 44984.00 45031.00 44937.00 44953.00 44968.00 3384.00 3388.00 5203.00 86.24 85.32
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 89.75 87 91.07 30 92.12 4 29.50 73 29.52 1382.90 752 1383.80 1,518 1384.80 1,042 1382.90 11 1383.80 1384.80 38267.00 30 38276.00 13 38290.00 1 38239.00 2 38248.00 44601.00 44601.00 39347.00 39388.00 39305.00 39319.00 39333.00 45226.00 45273.00 3 45178.00 14 45194.00 6 45210.00 4 3372.00 3377.00 5201.00 86.23 85.35 -
10 Greenback gains versus euro, Portugal debt sale eyed
Wednesday, January 12, 2011 Top Economic Events
Euro weakness to resume, seen sliding toward $1.2590 NEW YORK: The euro slipped against the dollar on Tuesday with more losses expected after a pledge by Japan to buy euro-zone bonds failed to calm fears of a sovereign debt crisis spreading to Portugal and Spain. The euro had earlier climbed near $1.30 after Japan said it will purchase euro-zone bonds to bolster confidence in the European Financial Stability Facility (EFSF), but gains faded after Tokyo said it would use existing euro reserves to pay for the debt. A critical test for the euro will come on Wednesday when Portugal is scheduled to sell up to 1.25 billion euros of bonds in an auction that will signal whether the indebted country will be able to afford to raise funds in the debt market or be forced to take a bailout. "The support (from Japan) looks set to
come from existing euro reserves, so it will not form an increase in the allocation of the euro," said Mary Nicola, currency strategist at BNP Paribas in New York. "In fact, if it's a reallocation away from the peripheral bond markets to the EFSF bonds, then it could prove to be euro negative. "We are expecting to retest yesterday's $1.2875 low, and a break below here could trigger a further euro/dollar decline toward $1.2645 and $1.2590 in the coming weeks," she added. Tokyo's pledge came after China assured Spain it would invest in the indebted euro-zone state's bonds -- an
assurance whose impact also proved fleeting. The euro last traded down 0.2 per cent at $1.2917, having risen as high
as $1.2992 on trading platform EBS. The euro rose 0.4 per cent to 107.51 yen from a four-month low of 106.75 yen set on Monday. It gained 0.6 per cent to 1.2607 Swiss francs. The euro could easily resume its downward path given mounting unease over a heavy schedule of debt issuance by southern European countries this
week, analysts said. Markets have already pushed the 10year Portuguese yield to punishingly high levels above 7 per cent. Portugal's prime minister and finance minister said on Tuesday Portugal has no plans to seek a bailout, and the government was doing everything possible to avoid doing so. Italy and Spain are also due to tap the bond market on Thursday, in auctions that will also be closely watched for any sign of contagion. The dollar rose 0.6 per cent on the day to 83.01 yen, supported by Japanese importers' bids. The Australian dollar shed more than 1 per cent to a one-month low of $0.9820, on speculation that more flooding in the country may dent its economic growth. -Reuters
Yuan up sharply as
Asian currencies
Baht up on cbank; rupiah Hu's US visit nearsa extends recent losses Rupiah down; intervention caps losses SEOUL: The Thai baht rebounded against the dollar on Tuesday after the central bank said it expected steady foreign fund inflows, while the Indonesian rupiah extended its recent slide as investors took profits from a strong rally last year. Bank of Thailand Deputy Governor Atchana Waiquamdee also told a seminar she was not overly concerned about food inflation at the moment, easing some concerns among foreign investors. "Foreign investors are definitely still worried about inflation, particularly in countries that have yet to hike interest rates," said Pin Ru Tan, emerging markets forex and rates
strategist at the Royal Bank of Scotland in Singapore. "They will not buy stocks and bonds in those countries for the time, such as Indonesia," said Tan, adding that those countries need to relieve concerns about inflation to attract more foreign funds. Still, the outlook for Asian currencies for the year remains bright because regional economies are expected to outperform the euro-zone, helped by a stronger US economy, analysts and dealers said. Thailand's central bank is expected to raise its benchmark interest rate by another quarter point to 2.25 per cent on Wednesday to curb inflationary
Sterling holds firm vs struggling euro LONDON: Sterling hovered close to a four-month high versus a struggling euro on Tuesday as sovereign funding worries plagued the single currency and the increasing prospect of higher interest rates in the UK supported the pound. The euro remained on the back foot with the focus on whether Portugal will be able to raise funds in the debt market on
Wednesday or be forced to turn to the European Union and IMF for financial aid. Bond auctions in Spain and Italy will also be closely scrutinised this week. Sterling traded around 83.01 pence per euro in afternoon dealing after holding within a tight range throughout the day, but it was not far off a fourmonth high of 82.85 hit on Monday when the euro came under broad selling pressure. "It's primarily euro weakness that's been driving EUR/GBP but there's also some emphasis shifting to whether the UK will
have to raise rates soon," said Gavin Friend, currency analyst at nabCapital. "But any hike that comes this year to re-establish the Bank of England's credibility on inflation shouldn't be a long-term positive for sterling," he added. Industry groups fear that louder mutterings about the BoE's credibility could drive it to tighten policy before a fragile economic
recovery warrants it, particularly with harsh government spending cuts about to bite. The BoE is expected to keep rates unchanged at this week's policy meeting. Technicals were showing further room on the downside for the euro, with Commerzbank analysts highlighting potential for a move to the June 2010 low at 80.67 against the pound. Sterling sat tight against the dollar to $1.5555, towards the top end of a $1.5345/1.5680 range set from the end of December. -Reuters
pressure. Foreign investors have sold a net $147.6 million in stocks so far this year. The rupiah fell to as weak as 9,088 per dollar, the weakest since July 6 last year on stock and bond outflows. But it erased much of its losses as the country's central bank was spotted selling dollars to check the currency's falls amid 9,070-9,090 levels and on the euro's rebound. The Taiwan dollar rose 2 per cent along with a jump in the local stock market. Trading volume continued to be low in both spot and NDF market, however, as Europe's festering debt crisis kept investors cautious. -Reuters
Swiss franc slows fall against euro ZURICH: The Swiss franc on Tuesday slowed its fall against the euro after dipping sharply from near record highs the previous day, as investors look to euro bond auctions for clues on the euro-zone's financial stability. The franc hit a series of records against the euro in recent weeks as investors worried about the euro's prospects and attention is now turning to bond auctions this week that will show whether Portugal, Spain and Italy can refinance their debt piles at a sustainable cost. The safe-haven franc, which rose about 16 per cent against the euro last year due to concerns about euro-zone debt, has eased from the all-time peak of 1.24 per euro hit on Dec. 30, according to Reuters data. The franc was 0.1 per cent lower against the euro compared to the New York close, trading at 1.2553 per euro at 0804 GMT. The franc was 0.4 per cent down against the dollar at 0.9711 per dollar. Small and medium-sized Swiss companies are concerned about the strength of the Swiss franc, but still see exports growing overall, showed a survey conducted by Credit Suisse and Osec, an organisation that promotes Swiss trade. -Reuters
Aussie takes a beating as floods drag on economy SYDNEY/WELLINGTON: The Australian dollar tumbled across the board on Tuesday as investors speculated that a sudden worsening of damaging floods in Queensland could crimp the economy and further put off any hike in interest rates. The Aussie plumbed to a four-week low of $0.9822, shedding more than one per cent on the day on the US dollar. It also skidded against the euro and the New Zealand dollar as investors trimmed net long Aussie positions. Flooding in the coal-exporting state of Queensland raced towards Australia's thirdlargest city of Brisbane on Tuesday, prompting evacuations of its outskirts and partial closure of railways servicing mines. Analysts have estimated the drag on demand and coal exports could shave economic growth by anywhere from 0.2 to 0.5 percentage points spread over this quarter and last. Annette Beacher, analyst at TD Securities in Singapore said most economists still believe that the economic impact will be fairly concentrated
and somewhat temporary. "However, the markets are extremely worried about the floods," she said. "It's about sentiment rather than facts," she added, pointing at positive local economic data released on Tuesday but ignored by markets. Trade data showed a healthy surplus of A$1.925 billion, while Australian job ads rose to the highest level in two years in December. The market is now pricing in just 17 basis points (bps) of tightening for the next 12 months, down from 35 bps on Monday. The Aussie also struck a five-week low against the kiwi at NZ$1.2928, having shed three cents in a week. The local currency was forced back from a near record peak on the euro, losing 1.5 per cent to stand at A$1.3163 per euro. The New Zealand dollar slipped to NZ$0.7593, from about $0.7630 in early trade. The kiwi was relatively sanguine after two pieces of moderately upbeat data, with the quarterly survey of business opinion and the new building approvals data showing an uptick. -Reuters
SHANGHAI: The yuan closed up versus the dollar on Tuesday as the People's Bank of China set a sharply higher mid-point, letting the currency resume appreciation ahead of President Hu Jintao's visit to the United States. The central bank let the midpoint, or its fixing from which the yuan can rise or fall 0.5 per cent in a given day, rise 0.2 per cent, its biggest single-day rise since Nov. 11 when Hu and his US counterpart Barack Obama met on the sidelines of a summit of Group 20 major developed and emerging economies. The latest fixing was only one pip away from the mid-point's record high that the PBOC set on Jan. 4. "We are poised for a few legs of solid yuan rises in 2011, with the first expected in the coming few weeks," said a dealer at a European bank in Shanghai. "Politics may still be an intermittent factor but yuan appreciation has increasingly made sense in line with China's economic reality." Spot yuan finished at 6.6200 versus the dollar on Tuesday, up from Monday's close of 6.6377. It has now risen 3.11 per cent
since its mid-June depegging. Before trade began, the PBOC set the yuan's mid-point versus the dollar at 6.6216, up from Monday's 6.6349 -- a rise that barely kept in step up with the overnight fall in the US dollar index. Many dealers expect the yuan to rise decisively above 6.60 on the dollar -- a level it once visited late in 2011 -- before the end of Hu's state visit to United States on Jan. 18-21. In the longer term, dealers see the yuan rising 2 per cent against the dollar in the first quarter of this year and around 6 per cent for all of 2011. Three-month one-year nondeliverable dollar/yuan forwards (NDFs) fell to 6.5490 in late trade from Monday's 6.5660, implying yuan appreciation in three months' time of 1.11 per cent. That's up from 0.85 per cent but still lags the 2 per cent appreciation foreseen by onshore traders for the first quarter. Benchmark one-year NDFs were bid at 6.4400 from Monday's close of 6.4590. Implied yuan appreciation in a year's time rose to 2.82 per cent from 2.52 per cent. -Reuters
Indian rupee gains on custodian dlr inflows MUMBAI: The Indian rupee strengthened to its highest level in nearly a week on Tuesday as some custodian banks sold dollars, probably for investing in the increased foreign institutional debt limits, dealers said. The partially convertible rupee closed at 45.1625/1725 per dollar, after hitting 45.16, its strongest since Jan. 5 and 0.6 per cent above its 45.45/46 close on Monday when it had fallen as low as 45.5175, its weakest since Dec. 20. "Custodian banks were on the selling side, was hearing of some debt-related inflows," said Rohan Naik, head of foreign exchange trading with Standard Chartered Bank in Mumbai, adding, the rupee should head towards 45 per dollar on Wednesday. Dealers said three large foreign banks were selling dollars in the market for possibly purchasing local bonds under the enhanced debt limit. Foreign funds are net sellers of $250.2 million worth shares so far in 2011, after having purchased stocks worth a record $29.3 billion in 2010, helping the local unit gain 4.1 per cent.
India's central bank is widely expected to raise rates by 25 basis points at its policy review on Jan. 25 and is seen raising rates by a total of 75 basis points in 2011. Traders will watch the industrial production data on Wednesday and December's inflation data on Friday for clarity on further rate increases. One-month offshore non-deliverable forward contracts were quoted at 45.42, 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 United Stock Exchange closed at 45.3150, 45.32 and 45.3150 respectively, with the total traded volume on the three exchanges at about $6.3 billion. -Reuters
Time
Source
Events
Forecast
Tentative
GBP
Nationwide Consumer Confidence
51
5:01
GBP
BRC Shop Price Index y/y
Previous 2.0%
12th-15th
CNY
Foreign Direct Investment ytd/y
17.7%
10:00
JPY
Economy Watchers Sentiment
44.9
43.6
14:30
GBP
Trade Balance
-8.2B
-8.5B
15:00
EUR
Industrial Production m/m
0.5%
0.6%
18:30
CAD
NHPI m/m
0.1%
0.1%
18:30
USD
Import Prices m/m
1.3%
20:00
USD
IBD/TIPP Economic Optimism
47.1
45.8
20:30
USD
Crude Oil Inventories
0.4M
-4.2M
45
1.3%
Previous Day Source GBP AUD CNY JPY CAD USD
Events BRC Retail Sales Monitor y/y Trade Balance New Loans Leading Indicators Housing Starts Wholesale Inventories m/m
Actual -0.3% 1.93B 481B 101.0% 172K -0.2%
Forecast
Previous 0.7% 2.56B 564B 97.2% 198K 1.7%
2.03B 365B 100.9% 179K 1.1%
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.2918 1.2987 0.9760 0.9766 1.5558 1.5602 0.9927 0.9947 0.9854 0.9956 107.5500 107.8300 0.8310 0.8336 1.2606 1.2619 129.5000 129.5000 85.3800 85.8800 0.9731 0.9763 1376.8500 1386.6500 -
Bid 1.2916 0.9757 1.5554 0.9923 0.9851 107.5100 0.8306 1.2604 129.4400 85.3300 0.9724 1376.1500 -
Low 1.2905 0.9665 1.5516 0.9901 0.9824 107.0800 0.8305 1.2523 128.7700 85.2500 0.9627 1373.3000 -
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 11/01/2011 A USD GBP CAD EUR JPY O/N 0.24000 0.55813 0.92167 0.33750 SN 0.09375 1WK 0.25438 0.57063 1.00000 0.49250 0.10288 2WK 0.25656 0.57438 1.04250 0.55125 0.10938 1MO 0.26125 0.59188 1.09500 0.69063 0.12063 2MO 0.28250 0.65125 1.15250 0.80500 0.15000 3MO 0.30313 0.76688 1.24000 0.93125 0.18850 4MO 0.34500 0.84938 1.31333 0.99500 0.24313 5MO 0.40125 0.95375 1.37333 1.07938 0.30000 6MO 0.45694 1.06063 1.44833 1.17250 0.34750 7MO 0.51000 1.13975 1.51000 1.22438 0.39750 8MO 0.56563 1.22288 1.58917 1.27938 0.44313 9MO 0.61781 1.30475 1.65500 1.32813 0.48750 10MO 0.66969 1.38375 1.73667 1.37813 0.51438 11MO 0.72469 1.45125 1.82333 1.42188 0.54000 12MO 0.78388 1.51850 1.90500 1.46375 0.56750
Major Central Banks Overview Central Bank Bank of England European Central Bank Swiss National Bank The Reserve Bank of Australia Bank of Canada Federal Reserve Bank of Japan
Next Meeting
Last Change
January 13, 2011 January 13, 2011 March 17, 2011 February 1, 2011 n/a n/a n/a
March 5, 2009 May 7, 2009 March 12, 2009 November 2, 2010 September 8, 2010 December 16, 2008 December 19, 2008
Current Interest Rate 0.50% 1% 0.25% 4.75% 1% 0.25% 0.10%
Division of National Bank of Pakistan (NBP) KARACHI, January 11,2011 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
85.85 133.63 111.12 86.42 88.56 84.56 12.46 1.03 14.36 66.14 14.92 22.89 11.04 12.96 303.97 27.91 65.14 23.59 23.37 0.08 2.80
85.65 133.31 110.86 86.21 88.36 84.36 12.43 1.03 14.32 65.99 14.88 22.84 11.01 12.93 303.26 27.84 64.99 23.53 23.32 0.08 2.79
85.46 133.01 110.61 85.99 88.13 84.14 12.40 1.03 14.29 65.81 14.84 22.78 10.98 12.90 302.46 27.77 64.82 23.47 23.26 0.08 2.79
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 11, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.20 12.60 12.70 12.90 13.20 13.28 13.32 13.50 13.65 14.00 14.20 14.22 14.23 14.24 14.25 14.25 14.22 14.27 14.55 14.70
12.35 12.60 12.80 12.90 13.21 13.30 13.45 13.54 13.72 14.00 14.23 14.23 14.25 14.35 14.37 14.25 14.15 14.28 14.60 14.75
12.30 12.60 12.85 13.00 13.22 13.32 13.48 13.55 13.75 14.00 14.23 14.24 14.25 14.35 14.37 14.20 14.15 14.24 14.55 14.75
12.25 12.60 12.80 13.08 13.22 13.40 13.50 13.70 13.78 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.25 14.65 14.90
12.40 12.50 12.60 13.00 13.22 13.25 13.30 13.45 13.65 13.95 14.25 14.22 14.23 14.30 14.35 14.15 14.20 14.25 14.55 14.75
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 12.35 12.60 12.80 12.95 13.20 13.30 13.35 13.50 13.70 14.00 14.25 14.25 14.28 14.30 14.35 14.20 14.15 14.26 14.70 14.90
12.31 12.58 12.76 12.97 13.21 13.31 13.40 13.54 13.71 13.99 14.23 14.23 14.25 14.30 14.33 14.23 14.17 14.26 14.60 14.79
Currencies Correlation EUR/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD
week month months months year years
0.45 -0.65 -0.24 0.20 -0.12 -0.31
0.70 0.89 0.89 0.72 0.86 0.89
0.86 -0.09 0.60 0.60 0.77 0.58
0.84 0.45 0.86 0.72 0.60 0.73
-0.05 0.66 0.83 0.67 0.15 0.44
USD/CAD USD/CHF
0.35 -0.61 0.31 0.36 -0.22 -0.25
0.53 0.61 0.45 -0.23 -0.02 0.32
-0.56 0.52 0.31 -0.10 0.25 0.19
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)11/01/2011 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
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN 12.30
12.80
12.45
12.95
12.65
13.15
13.20
13.45
13.45
13.70
13.55
14.05
13.65
14.15
13.70
14.20
JSBL
12.25
12.75
12.50
13.00
12.80
13.30
13.25
13.50
13.45
13.70
13.50
14.00
13.70
14.20
13.80
14.30
ASPK 12.20 CIPK
ABPL
ASK
12.70
12.50
13.00
12.70
13.20
13.20
13.45
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
12.20
12.70
12.30
12.80
12.70
13.20
13.25
13.50
13.45
13.70
13.55
14.05
13.70
14.20
14.00
14.50
DBPK 12.10
12.60
12.30
12.80
12.50
13.00
13.10
13.35
13.25
13.50
13.45
13.95
13.50
14.00
13.60
14.10
FBPK 12.25
12.75
12.50
13.00
12.75
13.25
13.20
13.45
13.45
13.70
13.55
14.05
13.75
14.25
13.85
14.35
FLAH 12.30
12.80
12.55
13.05
12.80
13.30
13.25
13.50
13.45
13.70
13.55
14.05
13.65
14.15
13.75
14.25
HBPK 12.25
12.75
12.50
13.00
12.70
13.20
13.25
13.50
13.40
13.65
13.50
14.00
13.65
14.15
13.75
14.25
HKBP 12.30
12.80
12.50
13.00
12.65
13.15
13.15
13.40
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
NIPK
12.40
12.90
12.90
13.40
13.25
13.75
13.50
13.75
13.60
13.85
13.70
14.20
13.75
14.25
13.80
14.30
HMBP 12.25
12.75
12.40
12.90
12.80
13.30
13.25
13.50
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
SAMB 12.30
12.80
12.50
13.00
12.80
13.30
13.30
13.55
13.50
13.75
13.50
14.00
13.65
14.15
13.75
14.25
MCBK 12.25
12.75
12.50
13.00
12.60
13.10
13.15
13.40
13.30
13.55
13.40
13.90
13.50
14.00
13.75
14.25
NBPK 12.10
12.60
12.25
12.75
12.50
13.00
13.15
13.40
13.30
13.55
13.50
14.00
13.65
14.15
13.75
14.25
SCPK 12.20
12.70
12.40
12.90
12.60
13.10
13.10
13.35
13.25
13.50
13.45
13.95
13.50
14.00
13.70
14.20
UBPL 12.15
12.65
12.45
12.95
12.65
13.15
13.20
13.45
13.40
13.65
13.50
14.00
13.70
14.20
13.70
14.20
AVE
12.75
12.47
12.97
12.70
13.20
13.21
13.46
13.40
13.65
13.51
14.01
13.65
14.15
13.74
14.24
12.25
Japan to buy euro debt, Portugal resists bail-out TOKYO: Japan promised on Tuesday to buy euro zone bonds this month in a show of support for Europe's struggle with a seething debt crisis. Portugal, the latest euro zone member in the market's firing line, continued to fend off pressure to seek an EU-IMF bailout. Prime Minister Jose Socrates said his country had beaten its goal for reducing the 2010 budget deficit and did not need outside help. Lisbon faces a crucial test on Wednesday of its ability to fund itself on the market at affordable rates after Greece, which sought a financial rescue last May, cleared its first funding hurdle of 2011, selling six-month money on Tuesday at just under the rate of its bailout loans. "The Portuguese government and Portugal will not ask for any aid or financial assistance for the simple reason that it is not necessary," Socrates told a hastily convened news conference. But a Portuguese central bank board member, Teodora Cardoso, earlier broke ranks with political leaders, saying Lisbon would do better to seek international financing. "It would be easier if we had foreign help because this would mean that the adjustment would not be so abrupt, but if we do it alone, for the markets to believe in it, it has to be brutal," Cardoso said according to news agency Lusa. The Bank of Portugal forecast the economy would shrink by 1.3 per cent this year, contradicting government forecasts, and said Portuguese banks would continue to rely on European Central Bank for liquidity this year and next due to
problems accessing the interbank market. Yields on Portuguese 10-year bonds edged down slightly but remained above 7 per cent, a level widely seen as unsustainable, after traders said the European Central Bank stepped in to buy government bonds for a second straight day. Wednesday's bond sale in Lisbon will feature both five and 10-year paper. Japanese Finance Minister Yoshihiko Noda said Tokyo was considering using its euro reserves to buy about 20 per cent of the AAA-rated bonds to be jointly issued by the euro zone to raise funds to support the region's second bailout recipient Ireland. "I think it's appropriate for Japan to purchase a certain amount of bonds to boost confidence in the EFSF (European Financial Stability Facility) and make a contribution as a major country," Noda said. Japan's offer comes days after China renewed its commitment to buy Spanish debt and analysts said it reflected both Tokyo's concern about the impact of the crisis on its export-reliant economy and an effort to reassert itself on the global stage. A senior adviser to China's central bank said in a Reuters interview that Beijing too should be buying safe, jointly guaranteed euro zone debt rather than riskier bonds issued by troubled member states such as Spain and Portugal. "In principle we support the euro, but we also need to ensure that our investment is safe and generates returns," said Yu Yongding, an influential economist in the Chinese Academy of
Social Sciences, a government think-tank. "I think it's much safer if we buy the fund as it has a triple-A rating," he added. Unofficial estimates described by a senior EU official as credible suggest China holds more than seven per cent of the 8.8 trillion euros in outstanding euro zone public debt, mostly through its State Administration of Foreign Exchange (SAFE) and sovereign wealth funds. The European Union set up the 440 billion euro EFSF as a safety net for heavily indebted euro zone nations, but it failed to deter investors from betting on more bailouts. In contrast with a chorus of European officials who have insisted that further rescues are by no means inevitable, Finnish Finance Minister Jyrki Katainen said on Tuesday that Ireland may not be the last country to seek financial aid. Speaking to a local broadcaster, he also said Lisbon needed to act decisively to calm markets, though he declined to say whether there were any talks about loans to Portugal. In Belgium, which has also come into the market focus because of its high debts and inability to form a government since last June, caretaker Prime Minister Yves Leterme was preparing further budget cuts designed to calm investors at the request of King Albert. Japan's bond-buying announcement briefly lifted the euro as far as $1.2992 from around $1.2925 and the single currency traded later at around $1.2950 in Europe, up from Monday's four-month low against the dollar.-Reuters
US Nov wholesale inventories fall, sales up sharply WASHINGTON: US wholesale inventories unexpectedly fell in November as wholesale sales outstripped forecasts, a government report showed on Tuesday, offering a fresh sign of strengthening demand as the holiday shopping season got underway. The Commerce Department said wholesale inventories fell 0.2 per cent to a seasonally adjusted $425.5 billion. Economists polled by Reuters had expected a 1 per cent rise in inventories. It was the first fall in wholesale inventories since December 2009. Wholesale sales in November rose 1.9 per cent to a seasonally adjusted $370.1 billion, well ahead of forecasts for a 1.5 per cent increase and the highest level since September 2008, when the financial crisis froze up credit markets. October wholesale sales were revised upward to a 2.6 per cent gain. The stronger than expected sales and the surprise dip in inventories implied that demand during the holiday shopping season may have been greater than retailers had anticipated. Producers may need to boost output to keep inventories at desired levels at a time when demand is strengthening, which should help support future economic growth. The inventory-to-sales ratio, which measures how long it would take to deplete stocks at the current sales pace, also fell in November to 1.15 months, from a downwardly revised 1.17 months in October. The fall in inventories was led by a 0.9 per cent drop in stocks of non-durable goods, including drugs, groceries and farm products. Inventories of computer products fell 1.8 per cent.-Reuters
CONTINUATION No #1
Continued from page 12
of disbanding the terror infrastructure. External Affairs Minister SM Krishna, during an interaction with visiting journalists from eastern European countries, said India was "looking forward" to Pakistan addressing its core concern regarding terrorism and tackling the outfits effectively. "If Pakistan can fulfil their assurances regarding terror outfits, India is willing to go more than half the way to talk to them. We are looking forward to Pakistan being sensitive to our core concern of terrorism and tackling it effectively," Krishna said in the hour-long meeting at his South Block office here, reported IANS. -Agencies
11
International & Continuation
Wednesday, January 12, 2011
anonymity that European Commission President Jose Manuel Barroso would visit Turkmenistan on Jan. 14-15 and that the Nabucco pipeline project would be high on the agenda. Prior to this, Barroso will also visit Azerbaijan, which lies across the Caspian Sea from Turkmenistan and would be both a transit country and supplier of gas to the Nabucco project. -Reuters
No #7
Continued from page 12
security as a result of this crucial program." She said that it meant that more than 4 million would given food security, adding "we are pleased to be able to help the government of Pakistan provide these essential commodities to its citizens. Earlier, on behalf of Khyber-Pakhtunkhwa Agriculture Minister Continued from page 12 No #2 Arbab Ayub Jan thanked the USAID for its interests in revival of degree holder members will face the cases in courts. the agriculture sector. He appreciated the US role in rescue, relief ECP summoned the degrees of all parliamentarians under the and now in rehabilitation in flood hit areas. He suggested the US decision of SC however ECP did not receive 298 members' to help the province in exploitation of hydel sectors by construcmatriculation and intermediate certificates. -Agencies tion of water reservoirs and irrigation system on equity basis. He was of the firm belief that through such assistance, the province Continued from page 12 No #3 applications from April 10 adding that this year machine read- could be in a better position in improving lives of its people and able passport (MRP) would be mandatory for aspirants of per- economic sectors. The program is a joint effort between the government of Khyber-Pakhtunkhwa and the United State Agency for forming the religious obligation. "No application form will be entertained without having the international development (USAID), and is being implemented by MRP," he said. He advised the intending pilgrims to get their the U N Food and Agriculture Organization (FAO).-Online MRPs ready at the earliest to avoid any inconvenience. Continued from page 1 No #8 To a question, the minister said although the Hajj policy-2010 subjudice and every thing would be clear when the apex court was announced for three years but the ministry would follow it would give its verdict.T o a question, PM Gilani said there is no after making some necessary amendments and removing loop- proposal to amend the Blasphemy Law and this controversy holes, if any. Commenting on Hajj flight operations, Khursheed should come to an end. He said Aasia Bibi case would be dealt in Shah said only two international airlines (PIA-Saudi Airlines) according with the law. He said he has all the respect for JUI (F) were allowed to operate Hajj flights from Pakistan to Saudi Chief Maulana Fazl-ur Rehman. He said it is his prerogative to Arabia and vice versa but he was in favour of competition among reshuffle the cabinet and appoint the Governor. the airlines aimed at creating an environment competition. -APP Earlier, speaking at the function the Prime Minister expressed resolve of the Government to build back a better and more vibrant Continued from page 12 No #4 Tethyan Copper Company has so far invested over $220 million Pakistan notwithstanding tremendous challenges. He thanked the Secretary-General for initiative of constructing 600 model villages in the exploration phase of Rekodiq project and plans to invest in flood affected areas in collaboration with NDMA and Youth over $3.3 billion in the development of the mine. TCC will also Parliament of Pakistan. Syed Gilani said the flood that hit Pakistan give more than half of the pre-tax earnings to the governments of last year was an experience of once in a century calamity. It affectPakistan and Balochistan. ed more than twenty million people and destroyed standing crops Experts giving counterarguments to this campaign in the media over three million acres of land. It also badly damaged roads, say that in the current environment, it is not easy to attract gen- power transmission lines, telecommunication network, industry uine investors in Pakistan and when two internationally reputable and infrastructure. He said the Damage Need Assessment carried companies like Barrick Gold and Antofagasta are willing to invest out by the World Bank and the Asian Development Bank estimatin Balochistan, it is an opportunity that Pakistan should not let go. ed a total loss of ten billion dollars. These included loss worth five With the investment of over $220 million in last four years, these billion dollars to agriculture, two billion dollars to houses and three investors have established their credibility as serious investors billion dollars to infrastructure. Twenty per cent of the country was and have demonstrated their commitment by complying with all ravaged by flood water and one in eight Pakistanis was affected the rules and regulations and respecting the long-standing agree- and one in twenty rendered destitute.-Agencies ment which was signed by their predecessors. -Online
No #9
Continued from page 1
Continued from page 12 No #5 addressing to the National Zakariya Conference on 2nd day Urs He also enumerated the services rendered by the graduates of here in Multan on Tuesday. US Vice President Biden is to reach the institute in various projects of national importance run by the Islamabad and as per the presidential orders, his meeting with forPAEC. -APP eign minister was indispensable, however Qureshi said that due to his busy engagements at the 3-day Urs he won't be able to meet Continued from page 12 No #6 Biden. During his address to gathering, he said saints delivered the By 2030, Turkmenistan aims to be exporting 180 billion cubic message of peace and brotherhood and by spreading their message metres a year of gas, nearly 80 per cent of its planned output. terrorism and extremism can be exterminated from all corners of Keen to lessen its heavy dependence on exports to Russia, the country. urged to combat the hostile forces who wish to disband country launched a natural gas pipeline to China in late 2009 and the harmony of nation in the time when country is in chaos and fachas agreed to boost exports to neighbouring Iran. ing the challenges of terrorism and extremism.He further said Reviving a plan to build a trans-Afghan pipeline to the markets appearance of a huge gathering in annual Urs is the evidence of the of Pakistan and India is also on the agenda, as is the construction fact that people love the message of saints. He said spiritual leadof an alternative export route to Europe, known as Nabucco, ers promoted the idea of harmony and brotherhood. -Agencies which would bypass Russia. Berdymukhamedov said in the teleContinued from page 1 No #10 vision report he had instructed the energy sector to build closer per cent. Low base effect and upward power tariff revision were links with Europe. "Today we are also ready to supply gas to European states," the president said. "We need to resolve this the main reasons of hike in YoY while lower food inflation and issue this year." A government source told Reuters on condition of increase in fuel prices which did not materialise would be key fac-
Surveys paint bleak image for British economy LONDON: British economic growth likely slowed sharply around the turn of the year and retail sales fell in the crucial Christmas trading month of December, according to two surveys published on Tuesday. The surveys make grim reading in what British Prime Minister David Cameron says will be a difficult year. Sales tax has increased to 20 per cent from 17.5 per cent, while government spending cuts will start to bite this year. Rising prices also complicate the outlook. Inflation is running more than one per centage point above the Bank of England's 2 per cent target and some investors see a first rise in interest rates as early as May -- a further potential headwind to growth. The British Chambers of Commerce (BCC) -- which represents firms employing around one in six UK workers -- reported strong manufacturing growth but a weak performance from the much larger services sector in the last three months of 2010 in its quarterly economic survey. BCC chief economist David Kern told Reuters it would translate into growth of 0.4-0.5 per cent for the fourth quarter of 2010, down from 0.7 per cent in the third quarter. The downward trend is likely
to continue in the first two quarters of 2011, resulting in growth of around 0.2 per cent in each quarter as businesses deal with reduced domestic demand following the spending cuts and the VAT rise. British retail sales fell in December for the first time since April last year, dragged down by heavy snow and consumers' fears about the economic outlook, a survey by the British Retail Consortium showed. "We have seen resilient food sales -- we all have to eat -- but non-food has had a very tough time," BRC Director General Stephen Robertson said in an interview with Reuters Insider. Retailer Marks & Spencer said on Tuesday it expected trading to get tougher as household budgets are squeezed and commodity prices rise. With inflation running more than one per centage point ahead of the Bank of England's 2 per cent target. Exports are proving a bright spot for British businesses. Manufacturers reported the strongest growth in overseas orders and sales since the last three months of 1994, when the country was recovering from its last recession. Service sector firms reported the strongest overseas demand since mid-2007, but saw the
weakest domestic orders since Britain emerged from its deepest recession since World War Two in the last three months of 2009. Both services companies and manufacturers plan to raise prices at the fastest pace since 2008, though Kern was doubtful whether they would succeed in imposing these price rises on domestic consumers. Nonetheless, he saw a strong chance that monthly consumer price inflation would peak above 4 per cent at some point in the first half of 2011 -- double the Bank of England's target. Kern worried that this may pressure the BoE into a premature rate rise. "The music around interest rates has changed too much," he said. "What is, I think, wrong entirely is to take the view that the Bank of England has lost control and lost credibility. If you tell a central bank it has lost credibility, you almost invite it to overreact." "A premature increase in interest rates will make it much more difficult to implement the government's austerity plan." Although most economists do not see official rates rising until much later this year, market rates now price in a strong chance of the bank moving as early as May.-Reuters
tor to MoM decline. As per the details available, in December, 2010 the CPI and SPI decreased by 0.31 per cent and 0.64 per cent while WPI increased by 1.63 per cent over November, 2010 respectively. On the other hand, compared to December of 2009 CPI increased by 15.68 per cent, SPI 21.65 per cent and WPI 24.40 per cent.The indices averaged for the period of July to December, 2010 have increased over the same period of 2009 by CPI 14.65 per cent, SPI 19.27 per cent and WPI 22.45 per cent, it said.Previously, In December, 2009 the annual monthly inflation rate CPI had stood at 10.52 per cent SPI 13.40 per cent and WPI 14.96 per cent, the data revealed.
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The announcement was made public after an elaborate meeting between Latif Khosa and Prime Minister Syed Yousuf Raza Gilani, which was held on January 9. Later on the same date, the PM Gilani sent to President Zardari the summary with recommendation for appointing Latif Khosa as new Punjab governor. According to President House's spokesman Farhatullah Babar, President Zardari today signed the summary. After the approval by President Zardari, Sardar Latif Khosa has become the 33rd Governor of Punjab. Analysts say Khosa will try to avoid antagonising the Pakistan Muslim League-Nawaz (PML-N) to tamp down disputes that have paralysed federal government. Though soft-spoken and non-confrontational, he is an ardent supporter of the PPP. Khosa's appointment comes just one day before an ultimatum given by Nawaz Sharif to Zardari's government on Tuesday to accept a list of his demands or face expulsion of PPP members from the Punjab provincial government. Latif Khosa is a Pakistani senator and advocate, and the previous Attorney General of Pakistan. He was appointed the Attorney General on 19 August, 2008. He coauthored an electoral fraud report with former Prime Minister Benazir Bhutto shortly before her assassination in December 2007. Khosa was one of Bhutto's top aides. -Agencies
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According to police sources, some armed people tried a dacoity at the residence of Justice Javed Iqbal, when his parents resisted their attempt and were killed by the robbers. Capital City Police Officer (CCPO) said Justice Javed's father was killed as he resisted robbers' attempt to burgle the house, while his mother was seriously injured, and succumbed to injuries. Meantime, Punjab Governor Sardar Latif Khosa and Chief Justice of Pakistan Justice Iftikhar Muhammed Chaudhry along with all the judges arrived on the scene. President Asif Ali Zardari and Prime Minister expressed their sheer grievances over the sad incident and urge the authorities to submit complete report in this regard within two days.
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remittances for the July-December 2010 period comes out at $881.90 million as compared to $755.04 million during the same corresponding period of the last fiscal year, registering an increase of 16.80 per cent, says a statement of the State Bank of Pakistan (SBP). According to the bank, the inflow of remittances in the July-December, 2010 period from UAE, Saudi Arabia, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman), the UK and EU countries amounted to $1255.65 million, $1143.82 million, $997.68 million, $626.29 million, $577.17 million and $172.10 million respectively as compared to $1,021.91 million, $845.91 million, $938.40 million, $642.45 million, $482.79 million and $142.79 million respectively in the JulyDecember, 2009 period. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first half of the current fiscal year amounted to $518.69 million as against $454.94 million in the same period last year.
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'The Financial Daily' on Tuesday.TFD analyst foresees central bank would increase policy rate by 50-100 bps.He said that factors which would govern the decision of rate hike include expectation of higher fiscal deficit around 6.5 per cent of GDP, higher expected inflation and higher borrowing by government through central bank.He further said that RGST, which is believed to replace the current general sales tax, was originally scheduled to be implemented in July but has been delayed several times. Now it looks like that it would be implemented in next fiscal year.
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FIA saying the investigators are trying to protect the accused persons. "DG FIA was spoiling the case and he wanted to save the culprits. Court has become tired of such state of affairs. If case was spoiled then no one would be spared. The case could be got investigated through judicial magistrate", CJP Iftikhar Muhammad Chaudhry and justice Khalil-ur Rehman remarked.The court directed Attorney General (AG) to separate DG FIA from this case. If this case was spoiled then no one would be spared. DG FIA told the court he was trying his best and he had requested the government in writing that he be separated from the case. FIA investigation officer Hussain Jaffar told the court FIA had checked bank accounts of Rao Shakil and other accused but no account was operating in their names in 8 banks. CJP expressed wonder over this statement and remarked DG FIA be separated from the case now. When the second DG comes then the case will be moved forward. Counsel for former federal minister Azam Swati told the court he wanted progress in this case but State Bank of Pakistan (SBP) had not provided full details about the accounts of the accused persons to FIA and inquiry officer of FIA was not being allowed to proceed to Saudi Arabia. -Online
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fourth-quarter earnings season with profits that topped Wall Street forecasts. Paul Kavanagh, a partner at Killik & Co, envisages the FTSE 100 index falling back below the 6,000 level this month after strong recent gains, though has a 6,600 end of year target. "You've got the earnings numbers coming through in the US, which should be positive... but I just feel that this market has moved quite a long way, so it could just boil over a little bit as we head in towards the last part of January," he said. Energy stocks were in demand, following crude prices higher, with BP advancing 2.8 per cent.Positive broker sentiment helped oil explorer Cairn Energy, up 5.5 per cent, as Morgan Stanley resumed coverage as "overweight", while plumbing supplies firm Wolseley, up 5.9 per cent, was aided by a Citigroup target price hike.-Reuters
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May cocoa on ICE rose 1.5 per cent or $42 to $2,947 a tonne. May cocoa on Liffe climbed 1.0 per cent to 1,967 pounds a tonne. Coffee futures were slightly higher, building on the prior session's gains with concerns about the outlook for the 2011 crop in key producer Colombia helping to underpin the market. May arabicas on ICE rose 2.70 cents or 1.2 per cent to $2.3545 per lb while March robustas on Liffe climbed 1.2 per cent to $2,090 a tonne. -Reuters
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Samjhota Express Attack
Isb urges Delhi to share probe facts Terror can't be ignored for friendly ties, says Krishna Conditionalising talks with terror is wrong: FO
Khursheed vows to assure flawless Hajj-2011
ISLAMABAD: Pakistan has said that ruling-out Kashmir issue from the agenda of Pakistan-India composite dialogue is impractical, and stressed India should not conditionalise it with terrorism. This was expressed by Spokesman Foreign Office Abdul Basit during his conversation with state media in response to Indian Foreign Minister's statement SM Krishna on Tuesday. India's External Affair Minister SM Krishna had said his country was willing to go "more than half the way" to hold peace talks with the neighbour (Pakistan) but terrorism could "not be shoved" under the carpet. Basit said we are waiting the
ISLAMABAD: Minister for Religious Affairs Syed Khursheed Ahmed Shah Tuesday expressed firm resolve to ensure flawless, transparent and smooth arrangements for the upcoming Hajj- 2011, providing maximum facilities to intending pilgrims at reasonable rates. "I myself will supervise the next Hajj operations and try to make exemplary arrangements for the guests of Allah Almighty both in Pakistan and at the Holy land Saudi Arabia," he was talking to APP here. See # 3 Page 11
ISLAMABAD: Election Commission of Pakistan (ECP) has declared 298 parliamentarian's degrees as suspicious including that of Chaudhry Shujaat, Chaudhry Pervaiz Elahi, Chaudhry Nisar Khan, Qamar Zaman Kaira, Dr Babar Awan, Waseem Sajjad and Faisal Saleh Hayat due to non submission of their matriculation and intermediate certificates in ECP. According to the sources of ECP, ECP declared the degrees of 298 legislators as doubtful
KABUL: US Vice President Joe Biden smiles as Afghan President Hamid Karzai speaks at a news conference in Kabul. -Reuters
Rikodiq fate awaits apex court's verdict ISLAMABAD: Supreme Court of Pakistan today (Wednesday) will decide the fate of the most-talked-about and controversial gold and copper mining project in the history of Pakistan that has the potential to change the fate of its people and bring them on track towards prosperity and a better future for their generations to come. The Rekodiq project located in district Chaghi of Balochistan is being developed by Tethyan Copper Company Pakistan Pvt. Limited (TCC) which is jointly owned by Barrick Gold Corporation (Canada), the world's largest
US says keen to rebuild Pak PESHAWAR: US Coordinator for Economic and Development Assistance in Pakistan Robin Raphel reaffirming the United States determination of assisting Pakistan in getting goals of stability and economic prosperity said that US is interested in early development of backward and remote areas of Pakistan and in this respect US is emphasizing maximum focus on Fata. "We have more focus on FATA's development and improving lives of its people as it is must for stability of Pakistan," Robin Raphel remarked in response to a query during a ceremony in connection with US and KhyberPakhtunkhwa partnership in provision of high-quality wheat seeds in flood affected areas. The US is going to assist the Agriculture Recovery Program with 62 million US dollars, which included 21 million US dollars exclusively for KhyberPakhtunkhwa. Beside Ambassador Robin Raphel who is US Coordinator for Economic and Development Assistance in Pakistan, the ceremony was also attended by KhyberPakhtunkhwa Minister Arbab Mohammad Ayub Jan, US Consul General in Peshawar Constance Arvis, Ed Birgells USAID Regional Director, Luigi Damiani FAO Country Director, Dr. Jehangir Khan FAO National Emergency Coordinator and other's. Robin Raphel reminded that under Kerry Logar Bill, Pakistan is getting 7.5 billion US dollars and since October 2009 last the US consumed an amount of 870 million dollars in various sectors. She said that US is interested in early development of backward and remote areas of Pakistan. In this respect, US is emphasising maximum focus on Fata. Expressing pleasure over USAID's contribution in the agriculture sector, Ambassador Robin Raphel said, "Over 1.3 million rural farming people have been provided food See # 7 Page 11
gold producer, and Antofagasta (Chile) the 5th largest copper producer. The combined market capitalization of these two companies is about $ 67 billion and between them they are operating 30 mines spread over five continents. Since 2006, when these mining giants acquired TCC, the profile of Rekodiq mine changed dramatically. In just four years, it hired more than 200 permanent employees and more than $220 millions investment has been made on extensive exploration campaign, technical studies, environmental and social
impact studies (ESIA). All this culminated in a world-class bankable feasibility study of Rekodiq project. Considering that investment in exploration for base mineral is high risk and on average only about one in every hundred metallic mineral prospects explored goes into to production, it is indeed a big achievement that Reko Diq project has reached a stage where its viability for production has been established. Feasibility report of Rekodiq project has been formalised by one of the world's top three technical and engineering firms. See # 4 Page 11
official version from Indian side about declining our request to provide the investigation report of Samjhota Express. He said what we have learnt is through the media reports, and we will have to wait until we are informed at state-level. He further said whatever the investigations are either complete or incomplete; India must share it with Pakistan as kins of 42 killed Pakistanis are waiting for the investigations. Four years' is an ample time period, but India has yet not culminated with investigations, he added. Responding to the statement of Indian Foreign Minister SM Krishna, Abdul Basit said Pakistan also wishes for friendly and peaceful relationships
with her neighbors, but India must inflate the agenda of bilateral dialogues and should not restrict them to terrorism. He urged other bilateral outstanding issues to be discussed including the core issue of Kashmir. "Kashmir is the fundamental hurdle in the way of peaceful relations between both the countries and avoiding this, improved ties are impossible", Spokesman Foreign Office reiterated. He said India should not conditionalise the dialogues with terrorism but also come forward for the peace and stability of region. On the other hand, asking Pakistan to fulfill its assurances See # 1 Page 11
Eligibility of 298 MPs doubtful which includes 112 members of National Assembly, 21 of Senate, 10 members of Sindh Assembly, 45 of Khyber Pakhtunkhwa, 10 members of Balochistan and 45 members of Punjab Assembly on the basis of non submission of their Metric and Intermediate certificates. ECP demanded time to time from these Parliamentarians to submit their degrees in ECP but they did not submit their certificates. 818 legislators submitted their original certificates and ECP announced them clear.
As per sources, ECP consider the suspicious degrees of all 298 legislators till they submit their complete certificates in ECP. It is pertinent to mention here that, apex court ordered the ECP that it should verify the degrees of all parliamentarians from Higher Education Commission and related Universities. Supreme Court had ordered that ECP should send the cases of fake degree holder Parliamentarians to relevant courts. SC added that fake See # 2 Page 11
8.8kMW N-power targeted by 2030 KARACHI: Defence and power production are the mainstay of the Pakistan Atomic Energy Commission (PAEC) programme. This was stated by the chairman of the PAEC, Dr Ansar Parvez, on Tuesday. He was speaking as chief guest at the 11th convocation of the Karachi Institute of Power Engineering in the vicinity of Karachi Nuclear Power Plant (KANUPP) here. Talking about the 8800 MW of nuclear power generation target assigned by the government to the PAEC, Dr Ansar said we are optimistic of achieving of this very target within the stipulated period as all the requisite projects and plans are in place for this purpose. "In the area of defence, we are following a well defined path that ensures that the country has a strategic capacity which is strong enough to deter and frustrate the evil designs of any one. An immense contribution has been made by the graduates of PIEAS and KINPOE to the strategic programme of the country and this will Inshallah continue", he remarked. Dr. Ansar said that in addition to defence and power, the PAEC has also been contributing to the socioeconomic sector. It has 14 medical centres which
have been set up in most of the cities throughout the country and four more are under-construction. Similarly, our agricultural centres and bio-technology institutes are also making a contribution to the agriculture sector of the country. Earlier, in his welcome address, the Rector PIEAS, Dr Muhammad Aslam said this is KINOPE's first convocation after its affiliation with the PIEAS. He further stated that PIEAS has a very good reputation for conducting quality degree programmes at post-graduate level. Dr Aslam maintained that high quality faculty and lab facilities have enabled PIEAS to become number one among the engineering institutions in Pakistan. Dr Ansar who is also the chairman of the Board of Governors of PIEAS conferred MSc degrees in nuclear power engineering to 49 graduates along with medal and merit certificates to the position holders. Najam-ul Saqib, Director of Karachi Instituted of Power Engineering, traced genesis of the institute which started as Karachi Nuclear Power Training Centre (KNPTC) in early 80s and was upgraded to masters' level in 1993. See # 5 Page 11
Turkmen state-run gas co head changed ASHGABAT: Turkmenistan's leader has replaced the head of the state-run gas company, who held the job for only three months, after the Central Asian state fell short of its 2010 output target, state television reported on Tuesday. President Kurbanguly Berdymukhamedov has appointed Amanali Khanaliyev as the new head of Turkmengaz, the state company responsible for gas production and development of the world's fourth-largest known reserves of the fuel according to BP data. Khanaliyev, previously head of the Turkmengaz department responsible for building pipelines and infrastructure, replaces Dovlet Mommayev, who had only been in the job since October after predecessor Nury Mukhamedov was fired for "serious flaws." The state television report did not give a reason for the latest change of management. Baymurad Hojamuhamedov, the deputy prime minister with responsibili-
ty for the energy sector, was quoted in the same report as saying Turkmenistan's production of natural gas and associated gas rose by 16.5 per cent, year-on-year, in 2010. Turkmengaz had earlier been set the target of producing 100 billion cubic metres, which would have equated to an approximately 30 per cent increase on previous annual output levels of around 70-75 bcm. Turkmenistan, a former Soviet republic of 5 million people, has gas reserves surpassed only by Russia, Iran and Qatar. The reclusive state rarely publishes data on its gas production, but has outlined ambitious plans to triple annual output to 230 billion cubic metres over the next two decades. Hojamuhamedov said Turkmenistan's natural gas exports increased by 33.6 percent, year-on-year in 2010. He did not reveal volumes either for production or exports. See # 6 Page 11
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