International Karachi, Saturday, February 12, 2011, Rabi-ul-Awwal 8, Price Rs12 Pages 12
Global monetary reform, a must: IMF
LHC accepts Kazmi's bail before arrest plea
See on Page 12
Some rail-lines partly bombed in Sindh
See on Page 12
APTTA takes effect today
See on Page 12
See on Page 12
Ambassador Haqqani warned of expulsion
Economic Indicators Forex Reserves (29-Jan-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Dec 10) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10) Foreign Debt (Sep 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
$17.31bn 14.55% $13.23bn $22.55bn $(9.32)bn $26mn $6.12bn $1.05bn Rs 765bn $58.41bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.14mn
Davis-sick US crosses the line Threatens to cancel Zardari visit, shut Pak consulate
Portfolio Investment SCRA(U.S $ in million)
196.90 -3.85 -0.15 3093
Yearly(Jul, 2010 up to 10-Feb-2011) Monthly(Feb, 2010 up to-10-Feb-2011) Daily (10-Feb-2011) Total Portfolio Invest (5 Jan-2011)
NCCPL (U.S $ in million)
FIPI (11-Feb-2011) Local Companies (11-Feb-2011) Banks / DFI (11-Feb-2011) Mutual Funds (11-Feb-2011) NBFC (11-Feb-2011) Local Investors (11-Feb-2011) Other Organization (11-Feb-2011)
-1.08 -1.16 -2.74 1.04 0.80 1.90 1.24
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 11,943.34 10,605.65 22,828.92 17,728.61 2,710.61 2,827.33 6,040.47 12,222.78
Change 244.13 12.18 120.30 265.57 1.48 9.17 20.46 6.51
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 110.32 17.48 148.33 2.00 42.43 1.70 36.06 10.92 37.05
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
09-Feb-2011 09-Feb-2011 09-Feb-2011 29-Nov-2010 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011 10-Feb-2011
13.53% 13.69% 13.86% 14.00% 13.36% 13.63% 13.77% 14.13% 14.25% 14.21% 14.25% 14.26% 14.61% 14.78% 14.97%
Commodities *Crude Oil (brent)$/bbl 101.45 *Crude Oil (WTI)$/bbl 86.44 *Cotton $/lb 192.90 *Gold $/ozs 1,365.90 *Silver $/ozs 30.17 Malaysian Palm $ 1,299 GOLD (NCEL) PKR 37,488 KHI Cotton 40Kg PKR 12,325
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 84.20 Canadian $ 84.65 Danish Krone 15.00 Euro 114.80 Hong Kong $ 10.70 Japanese Yen 1.006 Saudi Riyal 22.63 Singapore $ 65.60 Swedish Korona 13.10 Swiss Franc 87.00 U.A.E Dirham 23.13 UK Pound 136.00 US $ 85.10
Sell (Rs)
85.20 85.65 15.30 116.30 11.20 1.031 22.85 66.60 13.50 88.00 23.40 137.50 85.45
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
84.83 85.25 15.46 115.25 10.89 1.019 22.62 66.26 13.11 87.58 23.10 136.27 84.86
85.03 85.46 15.49 115.52 10.92 1.021 22.68 66.42 13.14 87.79 23.16 136.59 85.04
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
18°C 32°C 22°C 23°C 13°C 18°C
MIN
5°C 14°C 7°C 8°C 4°C 7°C
Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
ISLAMABAD: President Asif Ali Zardari administering oath to new federal ministers here at Aiwan-e-Sadr. -APP
Qureshi, Kaira, Ashraf, Gondal out
Fresh ‘lean’ Cabinet looks lot like former Zardari administers oath to new 22-member Cabinet ISLAMABAD: President Asif Ali Zardari on Friday administered oath to 22-member new Federal Cabinet here in line with the PPP decision to cut down its size as part of the austerity drive. The new cabinet includes 18 old and four new ministers. It also includes one minister of state, Hina Rabbani Khar. The ministers, who took oath at Aiwan-i-Sadr, included Mian Changez Jamali, Dr Firdous Ashiq Awan, Syed Khurshid Shah, Sardar Alhaj Muhammad Umar Goreja, Hina Rabbani Khar, Mir Israr Ullah Zehri, Arbab Alamgir Khan, Mian Raza Rabbani, Syed Naveed Qamar, Rehman Malik, Amin Fahim, Shahbaz
An exercise in futility: 'N'
Firdous Ashiq Awan, Information and Broadcasting
Bhatti, Engineer Shaukat Ullah, Samina Khalid Ghurki, Abdul Hafeez Sheikh, Haji Khuda Baksh Rajar, Mian Manzoor Ahmad Wattoo, See # 10 Page 11
Employees on cloud nine after Capt Aijaz quits
Strikers cut PIA MD career short Captain Nadeem Yousafzai likely new MD Staff Reporter KARACHI: Managing Director PIA Captain Muhammad Aijaz Haroon has resigned after successful talks between Joint Action Committee of PIA employees and Interior Minister Rehman Malik and Defence Minister Chaudhry Ahmad Mukhtar at Karachi Airport on Friday night. Announcing the agreement, Rehman Malik said that after successful talks with Joint Action Committee of PIA employees, the employees have ended their fourth day strike.Ahmed Makhtar said that the main demand of the Joint Action
Committee of PIA employees regarding the resignation of PIA MD Aijaz Haroon has been fulfilled. He said the sacked employees have also been restored. Regarding cancellation of MoU with Turkey, he said he did not see any memorandum and it can not be implemented without the approval of the Cabinet. Earlier, A clash between protesters and supporters of PIA administration erupted here at Karachi airport when the latter came and began attacking and torturing the demonstrators. According to last minute reports Captain Nadeem Yousafzai is likely to be named as new MD PIA.
Secy textiles directed to submit proposals
Yarn, cotton export likely ISLAMABAD: The National Assembly Standing Committee on Textile here on Friday recommended that the export of yarn/cotton maybe allowed after fulfilling the requirement of domestic Industry. The Committee also directed the Secretary M/O Textile Industry to submit proposals on the availability of cotton/yarn for the domestic textile industry in future, said a statement issued by the National Assembly Secretariat
here. The meeting of the Standing Committee on Textile Industry held here at the parliament house, under the chairmanship of Haji Muhammad Akram Ansari, MNA, discussed the yarn price hike in the country and its present status. The committee was also given briefing on the working/achievements of the Textile University, Faisalabad and the Garment City Faisalabad. See # 12 Page 11
ISLAMABAD: PML-N Spokesperson Siddiq-ul Farooq has said that the new Cabinet is not according to the nation’s expectations as once again the ministers accused of corruption have been reappointed. Talking to private TV channel after the new federal cabinet was put in place on Friday, Siddiq-ul Farooq said that majority of ministers of the new cabinet are those who were blamed for their involvement in corruption and some See # 9 Page 11
Davis on 2-week judicial remand LAHORE: Raymond Davis, US involved in double murder, has been sent to Jail on 14-day judicial remand. Davis was arrested on January 27 after he shot and killed two motorcyclists in Lahore, claiming it was in selfdefence as the men were trying to rob him. On Friday, Davis was presented before a local court in Model Town amidst strict security measures. More than 200 police were deployed outside the courtroom. The proceedings of the court were closed to media. Defence lawyer Hassam Qadir Advocate filed two pleas on behalf of Raymond in the court that the trial be held in camera and diplomatic immunity should be granted to him The court asked the government to clarify whether diplomatic immunity applied in the case of Davis. Davis faces potential murder charges. He is to be held in a jail in the Kot Lakhpat area of Lahore, said Abdus Samad, a government prosecutor in the case who briefed reporters after the session. “The court has, meanwhile, sent Davis to jail on a judicial remand of 14 days”, Abdul Samad said. Davis' next court appearance is set for Feb 25. Samad said that Judge Anik Anwar also agreed to get government response on a defence request that any trial in the case be held out of public view. Meanwhile CCPO Aslam See # 11 Page 11
WASHINGTON: United States has allegedly threatened to sever ties if the US official involved in killing two Pakistani nationals in Lahore is not released. Citing Pakistani officials ABC News reported President Obama's national security advisor summoned Pakistan's ambassador to the White House to deliver a threat from the president: Release Raymond Davis or face the consequences. National Security Advisor Tom Donilon told Ambassador Haqqani, according to two Pakistani officials involved in negotiations about Davis, that the US will kick Haqqani out of the US, close US consulates in Pakistan, and cancel an upcoming visit of President Zardari to Washington, if Davis, a US embassy employee, is not released by Friday.
Haqqani, US put up denial WASHINGTON: Ambassador to the United States (US) Husain Haqqani and the US Embassy on Friday denied an ABC News report about US National Security Advisor Tom Donilon threatening to boot him if Raymond Davis was not released. In response to the reports, Haqqani, through his Twitter account, denied the news saying "No US official, incl(uding) the NSA, has conveyed any personal threats 2 (to) me or spoken of extreme measures." Earlier, citing two Pakistani officials, ABC News had said late Thursday that Donilon made the threat after summoning Haqqani to the White House on Monday. According to ABC News, Donilon also warned US consulates in Pakistan may be closed and an See # 6 Page 11 The outlines of the threat were confirmed to ABC News by a senior US official, who was not authorised to speak on the record. A White House spokesperson, Tommy Vietor, declined comment. Ambassador Haqqani denied, via Twitter, that any "US official, incl(uding) the NSA, has conveyed any per-
Fiscal deficit to widely overrun target: S&P
Moody’s shows scissors to Pak Says tax reforms need urgent imposition Consensus on economic plans a must ISLAMABAD: Pakistan could face the risk of a ratings downgrade if it fails to quickly implement reforms to address a growing fiscal deficit, Moody's Investors Service said on Friday. Moody's currently has a B3 rating for Pakistan. "A key to a (negative) change in the rating is if the fiscal deficit is more than what we expect," said Aninda Mitra, Moody's sovereign analyst for Pakistan, who expects the fiscal deficit to be 6-7 per cent for the year ending June 30. He also said inflation which is rising at a faster than expected rate, brought on by increased government borrowing, could lead to a downgrade. Pakistan agreed with the International Monetary Fund (IMF) that it would keep the country's fiscal deficit at 4.7 per cent for the fiscal year ending June 30. Analysts agree this figure is
likely to be overshot. Some forecast the fiscal deficit to be around 8 percent if fiscal reforms are not implemented, higher than the central bank's prediction of between 6-6.5 per cent. Pakistan has a B- rating from Standard & Poor's Rating Services, just one notch above a CCC rating that would imply an impending default. But it does not expect to change the country's rating. Overshooting the IMF's targets should not surprise anyone, given last year's large deficit and the prospects of an even larger one this year, said S&P analyst Agost Benard. Pakistan's current account recorded a surplus of $26 million in the first six months ending Dec 31, thanks to rising remittances from overseas Pakistanis and steady exports. Still, a prolonged delay in the implementation of a reformed See # 8 Page 11
sonal threats 2 (to) me or spoken of extreme measures." Davis is in Pakistan on a diplomatic passport, and the US has demanded his immediate release on the grounds of diplomatic immunity. The stand-off between Washington and Islamabad has brought the already tense relationship between two allies to a new low.-Agencies
SBP lets 3rd party fund transfers thru PRISM KARACHI: The State Bank of Pakistan has decided to allow third-party fund transfers through Pakistan Real Time Inter-Bank Settlement Mechanism (PRISM) with immediate effect in order to increase the coverage of electronic payment systems. According to a Circular (PSD Circular No. 2) issued Friday all banks participating in PRISM are allowed to send individual 3rd Party Fund Transfers (using MT 103) through PRISM System for amounts of Rs10 million and above. "This, limit, however, will not be applicable to National Clearing Company of Pakistan Ltd (NCCPL) request for Fund Transfers in PRISM System," the Circular added. It is expected that extending such a facility through PRISM would not only enhance efficient and timely fund transfers by banks, but would also result in cost reduction for such transfers for the customers of banks, See # 7 Page 11
Gaza celebrates Mubarak resignation
Egyptians rise as Mubarak falls Military takes control for now CAIRO: Egypt's Hosni Mubarak resigned as president and handed control to the military on Friday after 29 years in power, bowing to a historic 18day wave of pro-democracy demonstrations by hundreds of thousands. "The people ousted the president," chanted a crowd of tens of thousands outside his presidential palace in Cairo. Several hundred thousand protesters massed in Cairo's central Tahrir Square exploded into joy, waving Egyptian flags, and car horns and celebratory shots in the air were heard around the city of 18 million in
joy after Vice President Omar Suleiman made the announce-
ment on national TV just after See # 13 Page 11
2
Saturday, February 12, 2011
KEPZ registers 45pc growth in exports TFD Report KARACHI: The exports from Karachi Export Processing Zone show a record growth of 45 per cent despite the economic recession. It indicates that Export Processing Zones Authority (EPZA) is doing well to fulfill its mandate to enhance the exports. In the economic growth of the country, the performance of EPZA has been a
substantial contribution. According to statistics released by EPZA, the exports from KEPZ during the month of January, 2011 stood by 39per cent higher at over 2.518 billion as compared to Rs.1.817 billion in corresponding month of January, 2010. The export performance in the month under review was the highest recorded in any month of current year.
Further, the exports from July, 2010 to January, 2011 have shown stride of an average of 45 percent over the corresponding period of last year. Export Processing Zones Authority (EPZA) pointed out that during the recent global recession which resulted in the shrinkage of developed economies, EPZA maintained rising trends in the exports.
ISLAMABAD: A group of Industrialists from Islamabad congratulating Raza Khan on his appointment as Chairman Coordination, FPCCI, Capital Office.-Staff Photo
PACCS: clarification sought from FBR Staff Correspondent ISLAMABAD: The Federal Board of Revenue has been sent a letter by Agility asking to clarify FBR's intentions on moving forward or not, at least with negotiations to continue PACCS. It is learned from sources that Agility seems getting tired of waiting for the Pakistan Government to pick pace and start taking its national interest matters seriously. The Agility has also mentioned timeline in the letter which is end of February for FBR and if nothing is done with respect to the agreement till then, then the trade can well imagine the chaos that is
looming ahead for the country. The FBR has not confirmed agreement with Agility over PACCS even after clear recommendation by Federal Minister for Finance Dr. Abdul Hafeez Sheikh. Recently, Hafeez Sheikh has asked FBR to sit with Agility to resolve the issue without further delays. It is learned that FBR had scheduled several meetings with Agility officials but delays meetings unnecessarily. It is not understandable why FBR has adopted delaying tactics when the system is generating revenues and delivering objectives phenomenally, said one of the successful PACCS User.
PESHAWAR: Syed Ali Nawaz Gilani, Secretary General, Pakistan-China Friendship Association and President Radio China Listeners Club showing the love and attachment of school students to Wang Qainting Bureau Chief, Pakistan China Radio international during her visit to Frontier Model School and College, Peshawar after special event of interaction with students to promote Pakistan-China Friendship and strengthening the relations in all walks of life.-Staff Photo
Ufone launches ‘Lady’s Package’ Staff Reporter KARACHI: Ufone, one of the leading telecom companies in the country has stepped forward once again to give its customers a reason to smile. Since inception Ufone has focused on catering to the masses and ensuring that every Pakistani has easy access to cellular services. The launch of Ufone's "Lady's package" is yet another feather in the cap of Ufone. All over Pakistan, women now have a package which speaks their language, a package which has been specially tailored keeping in mind the needs of the present day woman. For just Rs. 2 per hour, women can now make endless long calls between 10 am and 5 pm to their loved ones on Ufone and PTCL networks without fearing about the bill, alongside they can make calls through the rest of the day to any number any network in Pakistan for just Rs.1.25 per minute.
TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:10 Tafteesh (Rpt) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 15:00 News 16:10 Faisla Aap Ka (Rpt) 17:30 Samaa Metro 18:00 News 18:30 Aap Ki Baat 19:00 News 19:05 Mutasareen 19:30 Taxi News 20:05 Tafteesh 21:00 News 22:03 Faisla Aap Ka 23:00 News 23:03 Awam Ki Awaz
Child labourer to represent Pak at Scout Jamboree KARACHI: A fourteenyear old- child labourer Osama Hafiz will represent Pakistan in the 23rd World Scouts Jamboree to be held in Sweden from July 27 to August 7 this year. Osama is one of the 120 children comprising street kids and child vendors who actively participated in the ongoing "Ticket to Life" programme of Sindh Boy Scouts Association, initiated in September last year. Coordinator, Sindh Boys Scouts Association Akhtar Mir told APP on Friday that the organisers of World Scouts Jamboree have invited five such needy kids from Pakistan. "It is for the first time that the international jamboree organisers have invited young scouts under the category of "needy kids," he said. The initiative he said compliments the Ticket to Life Programme introduced in Asia Pacific Region countries including Pakistan with the motive to streamline street children and child labour towards healthy and dignified existence.APP
ISLAMABAD: A Norwegian business delegation called on Prime Minister Syed Yousuf Raza Gilani at PM House.-Online
PAS announces Advertising Awards 2011 KARACHI: The Pakistan Advertisers Society (PAS) has announced advertising awards 2011. This was announced by Chairman of PAS, Aly Mustansir, while talking to newsmen on Thursday. The Chairman of the Awards Committee, Fuad Chundrigar talking on the occasion said that the objective of the awards is to acknowledge and honour creativity, ideas and
strategy that lead to strong business results, encourage competition within the industry and provide the impetus to thrive. The awards would be open to all and that there would be some 25 categories. The entry process would be simple and March 5 would be the last date for submission of the entries. The advertisements from January to December 2010 would be eligible for consideration
for the PAS Awards 2011. The awards would be conferred towards the end of April this year Or in early May. It was pointed out that in the year 2010 an amount of Rs.28 billion was spent on advertising in the country. An increase of 20 percent on this count is expected in the year 2011. Anwar Rammal would be heading the judging committee for the PAS Awards 2011.-APP
IGI Funds awarded AM2 minus rating TFD Report KARACHI: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned Management Quality Rating of 'AM2-' (AM-Two Minus) with a stable outlook to IGI Funds Limited. This credit rating is indicative of the sound governance structure instituted at the management company and is an affirmation of the confidence that investors have placed in IGI Funds Limited. IGI Funds Limited is a group company of the IGI Financial Services and Packages Limited. The Company is registered as a Non-Banking Finance Company (NBFC) licensed by the Securities and Exchange Commission of
Pakistan (SECP) to provide Asset Management and Investment Advisory Services in conformity with the NBFC Rules, 2003 and NBFC & NE Regulations 2008. The company has five open ended funds under management namely IGI Income Fund, IGI Stock Fund, IGI Islamic Income Fund, IGI Money Market Fund and IGI Aggressive Income Fund. The IGI Income Fund has mostly remained insulated from the credit failures in the market and returns have remained consistent with YTD return of 11.35% (Jul10-Dec10). Return of IGI Stock Fund is close to the peer group average with YTD return of 19.96% (Jul10-Dec10).
HBL-IF, MMF declare second interim dividend Staff Reporter KARACHI: The Board of Directors of HBL Asset Management Limited, the Management Company of HBL Income Fund and HBL Money Market Fund, in its meeting held on Friday announced second interim dividend in the form of bonus Units for 'A' and 'B' Classes of Units and Cash dividend for 'C' Class Units for the year ending June 30, 2011. The Board has approved second interim dividend at Rs.3.0 per Unit in the form of Bonus Units for 'A' & 'B'
Classes of Units and Cash dividend of Rs.3.0 per Unit for Class 'C' Units for the year ending June 30, 2011. This is in addition to the first interim dividend/bonus declared at Rs.2.25 per Unit in October 2010. The Board has approved second interim dividend at Rs.2.90 per Unit in the form of Bonus Units for 'A' & 'B' Classes of Units and Cash dividend of Rs.2.90 per unit for Class 'C' Units for the year ending June 30, 2011. This is in addition to the first interim dividend/bonus declared at Rs.2.25 per Unit in October 2010.
New Horizon to establish LAN, Voice setup at RMI TFD Report PESHAWAR: New Horizon, a leading provider of IT Infrastructure Services, signed an agreement with Rehman Medical Institute for the establishment of complete state of the art LAN and Voice Infrastructure. The solution comprises complete LAN infrastructure including active and passive components and VoIP enabled voice communication solution. The Institute is expanding its capacity for health care and medical education services and therefore requires
enhancing the network infrastructure and voice communication system. The proposed LAN solution, provided with an approach of Self-Defending Network, covers the installation of high-tech interconnected networking equipment based on global standards, optimizes performance and productivity. The solution also ensures the capability to gain the functionalities of Network Switching at core and edge level, content switching, network security to protect illegal traffic and prevent DoS attacks.
CHARSADDA: As part of flood relief efforts, LG Electronics has pledged to continue the support to flood victims by carrying out various relief activities in the affected areas and offer necessary assistance. As part of this initiative, LG Electronics Pakistan recently provided warm blankets to the flood affected people so that they can bear with harsh winter season. Picture shows LG representatives distributing blankets to the people.-Staff Photo
KARACHI: Launch of Moringa Miracle brand by Sand Bloom (Pvt) Ltd ,a Pak European Company. Pooya Dubash - Marketing, Jude Allen - General Manager, Danesh Dubash - Managing Director, Naseer Bhatti - CEO, Adnan Khan - Regional Sales Manager, and Adil Khan - Head of Finance are seen in the photograph. Staff photo
Chocolate Festival today TFD Report KARACHI: Chocolate is the world's most popular flavor. It makes people feel loved and wanted. History reveals that Chocolate has been honored and admired for as long as it's been around. This is also the reason why lovers all over the world, prefer exchanging cocoa based presents on Valentine's Day. WeldonMoms conducts a Chocolate Festival every year in February and encouraged by the fabulous response over the last few years, they are back in action for the third consecutive year. The festival will be held today at 4 pm at Marriott Hotel. A big part of any Chocolate Experience is the visual appeal. It can be melted, cooled and crafted into shapes. Therefore, this year WeldonMoms has teamed up with the most renowned art school in town - The Indus Valley School of Art and Architecture (IVSAA) whose students have worked hard to come up which a Spectacular Display of Chocolate Art including Chocolate Paintings, Chocolate Sculpture, and a CocoaCollage! Apart from being good recreation for the entertainment starved Karachiites, this will be a One-Dish Chocolate Party, and a huge networking platform for the evergrowing number of registered Weldon Moms member, their favorite ladyfriends, plus babies. Celebrity Chefs and popular cooking experts will be invited to judge these entries and loads of prizes will be dispensed to the most magnificent presentations.
DIHE moot on peace, security KARACHI: The first international conference on Peace, Security and Governance was organized by the Centre
peace. She quoted the UN Resolution 1325 which ensures special need for women to be taken into account at all levels whenever there are negotiations for
Javed Jabbar said that Pakistan was a predominantly Muslim country than a theoretical state. Despite of all our flaws, we still have the capacity to produce balance
for Peace, Security and Development (Dadabhoy Institute of Higher Education) in collaboration with Carnegie Endowment for International Peace at a local hotel. According to organisers here, former Ambassador Shahid Amin underlined the need to handle US-Pak relation with care and with willingness to remove whatever has arrived in the form of misunderstandings and not allowing them to become major issues. Masuma Hasan, chairperson Pakistan Institute of International Affairs (PIIA) Karachi stressed on the role of women in maintaining
peace taking place. Goerge Perkovich, director Nuclear Policy Programme, Carnegie Endowment for International Peace said that US can help in promoting educational reforms in Pakistan . Syed Mustafa Kamal, former City Nazim Karachi said the democracy is about the empowerment of local government system as this is the only way to get people's contribution toward their cities and then the country. "We cannot fight and win the war against terrorism with the help of forces but by serving the people through a proper strategy", he noted. Former federal minister
and global level excellence. Former federal minister Dr. Farooq Sattar and Sindh Education Minister Pir Mazhar-ul-Haq in their brief remarks appreciated Abdullah Dadabhoy for establishing the Dadabhoy Institute of Higher Education. In his welcome address, Abdullah Dadabhoy, Chairman Board of Governors DIHE talked about the Centre for Peace, Security and Development DIHE and theme of the conference Former Navel chief Shahid Karimullah, Arif Habib, Dr.S.m Taha, Tariq Waseem Ghazi also spoke on the occasion.
Staff Reporter
3 Saturday, February 12, 2011
Dollar gains broadly vs euro, yen; Mubarak impact brief
Previous Day
Greenback rises to 1-month high vs yen, Swiss franc NEW YORK: The US dollar rose against the euro on Friday, shaking off a brief dip after Egyptian President Hosni Mubarak stepped down as investors have widely priced in his exit and technical factors weighed on the single currency. The euro, which hit a three-week low against the dollar on Friday, has tried to break the $1.35 level twice before and failed, shifting momentum to the downside. In addition, the recent spate of US economic data has been supportive of the greenback and most strategists are looking for more outperformance on the dollar. "It was a knee jerk reaction and it didn't last because there are bigger things driving the euro right now," said Brian Dolan, chief currency strategist, at Forex.com in Bedminster,
New Jersey. "Egypt is now seen as a regional political drama and the market seems to think the risk of a fundamentalist takeover there is overblown. But the concerns most heavily weighing on the euro -- the ongoing debt crisis -are still there, and for now, the downside is still in play," he said. In midday New York trading, the euro fell 0.4 per cent to trade at $1.3540, after earlier hitting $1.3502 -- its lowest since Jan. 21. Key support for the euro lies at $1.3500, a point that traders cited as an options barrier, with reports of strong bids
ahead of that level. Technical analysts said if the pair closes below the euro's 100-day moving average
at $1.3542, it would be the first time since Jan. 17. As a result, the single euro-zone currency could see further downside. The ICE Futures' dollar index, which measures the greenback's performance against a basket of currencies, was up 0.3 per cent at 78.522. Traders said the European Central
Bank stepped in to buy Portuguese bonds after yields on the country's debt hit euro-era highs. The latest spike in yields has sparked fresh concerns about funding costs in peripheral euro-zone economies. The dollar, meanwhile, touched its highest level in a month at 83.68 yen, boosted by the rising trend in US Treasury yields. It was last up 0.3 per cent at 83.51 yen. Some analysts said the spike in yields reflects a US economy on a more footing. The dollar also made headway against the Swiss franc, rising to a one-month high at 0.9750 on demand from a Swiss bank. The franc was further undermined on weaker-than-expected Swiss inflation data released Thursday. The dollar was last at 0.9762, up 0.7 per cent. -Reuters
Yuan ends lower on Won down on rate hold, weaker mid-point Asian currencies
foreign stock sales
SINGAPORE: The South Korean won led overall declines in emerging Asian currencies on Friday as the central bank surprised markets by keeping interest rates on hold and as foreign investors continued to sell stocks in the region. Asian currencies had enjoyed nearly a week of appreciation on relief that regional policymakers were taking steps to stem rising prices, with Indonesian central bank raising interest rates last Friday. But investors started doubting their determination, especially as central banks of South Korea and Philippines held their policy rates unchanged. Asian currencies may also continue to suffer as investors rotate funds out of emerging markets and into developed
countries, analysts said. Dollar/won rose for a third consecutive session as foreign investors continued to dump Seoul shares and on dollar demand linked to the sales. Local interbank players also built up long dollar/won positions. Foreign investors sold a net 615.7 billion won ($545.6 million) worth of stocks on the main exchange after reporting their biggest net stock sales in three months on Thursday. Dollar/peso reversed initial losses despite the central bank's hawkish stance on inflation. On Thursday, the BSP sharply lifted its inflation forecast for the second straight review, causing analysts to expect a raise as soon as next month, although it kept its policy rate steady. "Their comments were rather
Stg falls; investors seek clarity on rates LONDON: Sterling slipped versus a broadly stronger dollar on Friday, after buying driven by speculation of a UK interest rate rise stalled in the absence of clarity from the central bank on when a hike might occur. Traders said selling by a European bank helped to push the pound to its weakest
later this month, analysts said the market continues to lack clarity on how close the bank really is to raising rates, as inflation pressures mount. This uncertainty helped to put the pound on the back foot on Friday, said John Hydeskov, currency strategist at Danske Bank, adding that the market was also keenly awaiting the
against the dollar since late January, while investors brushed off data showing a jump in wholesale inflation, which added to the case for higher interest rates. The Bank of England kept rates on hold at 0.5 per cent on Thursday. While the decision was widely expected, it prompted selling in sterling by some investors who had bet on a small possibility of a hike, which would increase the returns on UK assets for some investors. With the BoE not due to release details of Thursday's policy debate and voting until
BoE's inflation report next week to gauge its outlook on prices. Markets now fully price in a 25 basis point rate rise by midyear. Sterling fell 0.8 per cent on the day to $1.5963. Technical analysts said its break below $1.60 opened the door to a fall to around $1.5920, the 38.2 per cent retracement of its December-February rally. The euro edged up 0.2 per cent to a session high of 84.76 pence. Traders said the single currency was boosted by demand from a French corporate name. -Reuters
hawkish," says Pin Ru Tan, emerging markets forex and rates strategist at the Royal Bank of Scotland in Singapore. But she doubted how much more the pair would fall, citing foreign investors' continuous local stock sales and risks of rising inflation. "It (the BSP) must show that it is not falling behind the curve and that is not the sense we get yet." Dollar/baht edged up as foreign investors kept buying the pair amid a continued sell-off of local stocks. A Bangkok-based dealer said markets expect USD/THB to trade between 30.65 and 31.05 next week. Foreign investors have been net sellers in the local stock market in the first four days of this week. -Reuters
central bank uses to express the government's intention on the currency. A bipartisan group of 101 US lawmakers in the House of Representatives launched a new bid on Thursday to pass legislation aimed at pressuring China to let the yuan appreciate. The same proposals cleared the House last year but died in the Senate. If approved this time, they would clear the way for the Commerce Department to treat currencies deemed to be undervalued as an illegal subsidy under US trade law. On top of the move, the US Treasury also said on Thursday it would remain focused on correcting what it called the substantially undervalued yuan. Benchmark one-year dollar/yuan non-deliverable forwards were bid at 6.4490 late on Friday, up from 6.4320 at Thursday's close. Their implied yuan appreciation in a year's time fell to 2.27 per cent from 2.54 per cent. -Reuters
Swiss franc hits 1-month low vs dollar Indian rupee snaps 2-day ZURICH: The dollar rose to a one-month high versus the Swiss franc on Friday, buoyed by solid US economic data while the franc stayed pressured by weaker-than-expected Swiss inflation data. The dollar solidly outperformed other currencies the previous day after a fall in US jobless claims, with more gains foreseen against the euro on concerns that Europe is not adequately tackling its debt crisis. The franc traded 0.1 per cent lower against the dollar compared to the New York close, trading at 0.9705 per dollar by 0825 after hitting 0.9715 francs earlier, its lowest since Jan. 13. The franc ticked up against the euro 1.3152 per euro. The Swissie has slipped steadily so far this year from a record high hit against the euro at the end of 2010. "The euro/Swiss franc is torn between extremely loose SNB policy and EU risk considerations," said UBS economist Reto Huenerwadel. Swiss consumer prices rose 0.3 per cent from a year ago in January but fell 0.4 per cent compared with the previous month, suggesting the Swiss National Bank will stick to its ultra-loose monetary policy. -Reuters
Aussie dlr falls below parity as RBA sounds relaxed SYDNEY/WELLINGTON: The Australian dollar fell below parity on Friday after the country's central bank said interest rates were likely to be on hold until late in the year, while the New Zealand dollar followed to a three-week low. The Aussie dollar shed half a cent to a week-anda-half low of $0.9980 after Reserve Bank of Australia (RBA) Governor Glenn Stevens said the central bank was ahead of the game with past hikes and policy could be on hold for an extended period. That led investors to push the timing of the next move and pull back expectations for how high rates might ultimately rise. Interbank bill futures from May onward all rallied and now only imply a 50:50 chance of a rise to 5 per cent by August. Markets are discounting just 34 basis points worth of tightening over the next 12 months, down from 42 bps a day before. The Australian dollar shed two cents this week with support seen at $0.9963 and resistance
SHANGHAI: The yuan ended down against the dollar on Friday after the People's Bank of China set a sharply weaker mid-point in an apparent expression of displeasure to renewed US pressure for the Chinese currency to appreciate. But traders said Beijing's gesture was unlikely to develop into a full-blown currency battle with the United States and that the trend for the yuan to appreciate was expected to continue at least in the near term. Spot yuan closed at 6.5919 against the dollar, down from 6.5865 at Thursday's close. It has now risen 3.56 per cent since its depegging from the dollar in June 2010. Before trading began, the PBOC fixed its daily mid-point at 6.5952 to the dollar, down from Thursday's record high of 6.5849. The fixing, from which the yuan can trade up or down a maximum 0.5 per cent in a given day, is the tool that the
around $1.0088 ahead of $1.0152. TD's Beacher expects the Aussie to hover around parity. "The appeal of the Aussie is still that the next interest rate move is up even though it's delayed," she said. The central bank left its cash rate unchanged at 4.75 per cent earlier this month, having previously hiked by 175 basis points since October 2009. The New Zealand dollar also hit a three-week trough at $0.7596, to be down one per cent on the week. Support is seen from about $0.7569, while topside targets will form near $0.77. The kiwi was hit in part by yet more dismal economic news with New Zealand house sales sliding to a record low in January according to the Real Estate Institute of NZ. The Aussie slipped slightly on the kiwi after the RBA comments to about NZ$1.3121, down 0.2 per cent this week. -Reuters
Source
Events
Actual
Forecast
Previous
JPY EUR EUR EUR GBP GBP CAD USD USD
Bank Holiday German Final CPI m/m -0.4% German WPI m/m 1.2% French Prelim Non-Farm Payrolls q/q 0.2% PPI Input m/m 1.7% PPI Output m/m 1.0% Trade Balance 3.0B Trade Balance -40.6B Prelim UoM Consumer Sentiment 75.1
-0.5% 0.9% 0.2% 1.3% 0.4% -0.4B -40.4B 74.8
-0.5% 1.8% 0.1% 3.9% 0.4% -0.1B -38.3B 74.2
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
Low 1.3508 0.9680 1.5965 0.9922 0.9963 112.7900 0.8426 1.3127 133.3500 85.6900 1358.2500
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 11/02/2011 A USD GBP CAD EUR JPY O/N 0.23400 0.55625 0.96000 0.87250 SN 0.10563 1WK 0.25250 0.57563 1.00000 0.89000 0.11500 2WK 0.25850 0.58313 1.03500 0.88500 0.11688 1MO 0.26575 0.61188 1.08000 0.87375 0.13000 2MO 0.28900 0.68125 1.14583 0.92875 0.15563 3MO 0.31300 0.80313 1.20833 1.04625 0.18875 4MO 0.35300 0.88688 1.27083 1.11875 0.24313 5MO 0.41000 0.99125 1.33917 1.20125 0.30000 6MO 0.46520 1.10813 1.40167 1.29375 0.34625 7MO 0.51850 1.18850 1.48583 1.35313 0.39500 8MO 0.57125 1.27413 1.56667 1.40688 0.44313 9MO 0.62875 1.35725 1.63833 1.47188 0.48875 10MO 0.68375 1.43625 1.72667 1.52688 0.51438 11MO 0.73500 1.50438 1.81000 1.58063 0.54125 12MO 0.79650 1.57313 1.90000 1.64313 0.56875
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Dec 04 2007 Dec 06 2007 Nov 13 2007 Dec 06 2007 Dec 11 2007 Dec 13 2007 Dec 05 2007
Jul 10 2007 Jul 05 2007 Feb 21 2007 Jun 06 2007 Oct 31 2007 Sep 13 2007 Nov 06 2007
Current Interest Rate 4.50% 5.75% 0.50% 4% 4.50% 2.75% 6.75%
Division of National Bank of Pakistan (NBP) KARACHI, February 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 USA. 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
fall on share gains MUMBAI: The Indian rupee recovered from a near twoweek low on Friday tracking sharp gains in domestic shares in late trade and boosted by some dollar inflows from a large pharmaceutical company. The partially convertible rupee closed at 45.68/69 per dollar, slightly stronger than Thursday's close of 45.725/735. The rupee traded in a band of 45.6450 to 45.7825 during the day. On the week, the rupee shed 0.2 per cent. "Alternate bids and offers were seen in the market today, but the biddish movement continued throughout the day. I suspect some governmentrelated buying was there," said Vikas Chittiprolu, a senior foreign exchange dealer with Andhra Bank. "Some corporates sold dollars at highs. I think the biddish momentum should continue next week as well. The rupee can possibly touch 46 next week," he added. Traders said a large pharmaceutical likely sold dollars in the market at around 45.75 lev-
As per 22.00 PST Ask High 1.3544 1.3617 0.9729 0.9747 1.6002 1.6111 0.9925 0.9984 1.0010 1.0044 112.9100 113.4200 0.8468 0.8468 1.3175 1.3186 133.4400 134.2100 85.7300 86.1700 1364.7800 1368.2000
Bid 1.3543 0.9725 1.6000 0.9919 1.0006 112.8700 0.8465 1.3171 133.3700 85.6800 1364.0400
85.20 136.83 115.72 85.61 87.94 85.18 13.16 1.02 14.58 66.53 15.52 22.72 10.94 12.93 304.16 27.98 64.79 23.40 23.20 0.08 2.76
85.00 136.51 115.45 85.41 87.74 84.98 13.13 1.02 14.55 66.38 15.48 22.66 10.91 12.90 303.44 27.92 64.64 23.34 23.14 0.08 2.76
84.82 136.20 115.17 85.18 87.51 84.76 13.10 1.02 14.51 66.20 15.44 22.60 10.88 12.87 302.64 27.85 64.47 23.28 23.08 0.08 2.75
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 11, 2011
els, helping the rupee recover from its lows. Foreign funds, however, are still net sellers of $1.7 billion so far this year, after buying a record $29.3 billion last year. One-month offshore nondeliverable forwards contracts PNDF were at 45.97, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCXSX and the United Stock Exchange closed at 45.7875, 45.7850 and 45.7925 respectively with the total traded volume at $6.2 billion. -Reuters
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years 30--years
KASB 12.90 13.00 13.05 13.10 13.44 13.50 13.60 13.65 13.75 14.05 14.15 14.18 14.22 14.23 14.24 14.24 14.25 14.25 14.60 14.80 14.90
BMA 13.00 13.00 13.00 13.10 13.40 13.47 13.53 13.63 13.75 14.10 14.20 14.25 14.25 14.30 14.30 14.25 14.15 14.27 14.55 14.70 14.85
ELXIR 12.85 12.85 12.95 13.09 13.43 13.50 13.56 13.64 13.77 14.08 14.24 14.25 14.27 14.29 14.31 14.25 14.17 14.25 14.60 14.70 14.95
GSL 12.85 12.95 13.02 13.08 13.40 13.50 13.57 13.66 13.75 14.00 14.22 14.25 14.26 14.28 14.30 14.30 14.20 14.26 14.65 14.90 15.10
ICSL 12.95 13.00 13.00 13.10 13.25 13.45 13.50 13.60 13.70 14.05 14.22 14.22 14.23 14.30 14.35 14.23 14.20 14.25 14.55 14.75 15.00
JSCM AvgRate 13.05 12.93 12.95 12.96 12.95 13.00 13.10 13.10 13.42 13.39 13.50 13.49 13.55 13.55 13.65 13.64 13.75 13.75 14.00 14.05 14.22 14.21 14.20 14.23 14.23 14.24 14.27 14.28 14.33 14.31 14.26 14.26 14.21 14.20 14.26 14.26 14.70 14.61 14.85 14.78 15.00 14.97
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
-0.50 0.45 0.17 0.68 0.72 0.20
0.18 0.74 0.57 0.55 0.07 0.53
0.89 0.82 0.57 0.92 0.67 0.55
0.66 0.96 0.84 0.87 0.42 0.71
0.62 0.75 0.86 0.82 0.72 0.80
0.61 0.47 0.69 0.71 0.60 0.25
USD/CAD USD/CHF 0.35 0.36 -0.14 -0.49 -0.55 -0.09
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)11/02/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.75
13.25
12.80
13.30
12.85
13.35
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.90
13.40
12.95
13.45
13.00
13.50
13.35
13.60
13.60
13.85
13.75
14.25
13.85
14.35
13.95
14.45
ASPK 12.90
13.40
12.90
13.40
12.90
13.40
13.40
13.65
13.50
13.75
13.60
14.10
13.75
14.25
13.80
14.30
CIPK
12.85
13.35
12.85
13.35
12.85
13.35
13.40
13.65
13.60
13.85
13.70
14.20
13.85
14.35
14.10
14.60
DBPK 12.80
13.30
12.85
13.35
12.85
13.35
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.85
13.35
12.85
13.35
12.85
13.35
13.45
13.70
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.85
13.35
12.85
13.35
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
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
HKBP 12.90
13.40
12.90
13.40
12.85
13.35
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
NIPK
12.80
13.30
12.90
13.40
13.10
13.60
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.70
14.20
HMBP 12.80
13.30
12.90
13.40
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.95
13.45
12.85
13.35
12.90
13.40
13.35
13.60
13.55
13.80
13.65
14.15
13.75
14.25
13.85
14.35
MCBK 12.70
13.20
12.70
13.20
12.80
13.30
13.35
13.60
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.90
13.40
12.80
13.30
12.80
13.30
13.40
13.65
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.70
13.20
12.70
13.20
12.70
13.20
13.30
13.55
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 12.85
13.35
12.85
13.35
12.90
13.40
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
AVE
13.34
12.86
13.36
12.86
13.36
13.37
13.62
13.51
13.76
13.63
14.13
13.76
14.26
13.85
14.35
HBPK
12.84
-0.55 -0.83 -0.20 -0.64 -0.64 -0.40
4 Saturday, February 12, 2011
Sowing Thorns
The Financial Daily International Vol 4, Issue 180
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi
A H Raja
Honorary Advisory Board
R
ecent incident of an American national Raymond Allen Davis involved in cold bloodProf. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA ed murder of two Pakistanis in Zahid Bukhari SVP HBL (retd) Lahore has given rise to many Dr. A. Hadi Shahid, FCA searching questions. The situation Ismat Sabir Muhammad Arif has become all the more shady and Head office mysterious since his name and iden111-C, Jami Commercial Street 11, Phase VII, DHA Karachi tity are fake and so was the car plate Telephone: 92-21-35311893-6 Fax: 92-21-35388428 number in which he was traveling URL: www.thefinancialdaily.com on the day of occurrence. He was Email Address: editor@thefinancialdaily.com carrying a prohibited bore pistol and Lahore office prohibited bullets with which he 24- Peshawar Block, Fortress Stadium, Lahore shot the two motor cyclists. He was Telephone: 92-42-6675595 Fax: 92-42-6664349 callous in using disproportionate Email Address: editor@thefinancialdaily.com force. He kept firing to ensure the death of Faizan and Faheem. This kind of brazen firing is plausible only when the opponents are also firing. The backup vehicle from Lahore US Consulate came rushing on the distress call given by Davis. In its mad rush to reach the scene in a jiffy, the SUV came the wrong way on a one-way road, drove across road divider and reached the scene within 15 minutes but in haste crushed to death a motorcyclist Ubaidur Rahman. By that time, Davis after filming the two dead bodies soaked in blood with his digReportedly, Standing Committee of National ital camera tried to escape but due to Assembly on Textile has recommended allow- traffic rush and police vigilance he apprehended. The driver of secing export of cotton and yarn after fulfilling was ond vehicle along with four persons the requirement of domestic Industry. The from the consulate managed to slip Committee has also directed Secretary, away and till this day identity of five Ministry of Textile to submit report regarding persons have yet not been asceravailability of cotton and yarn for the domes- tained. The US Consulate has refused to hand over the accused and tic textile industry. the SUV. The US undue interference The Secretary Textile while briefing the is heightening tension. Davis interCommittee has stated that this year, Chinese rogation may reveal some hidden and Pakistani cotton crops were damaged by facts about US covert war in the floods. The government is monitoring the Pakistan. 36-year old Davis is being situation, especially the export of cotton and described by Washington as a diployarn which is less than the previous year. mat whereas he is not. Pakistan is According to Ministry of Food and being pressed to release him immeAgriculture approximately 0.596 million diately on account of diplomatic he enjoys, whereas he hectares area was inundated by the recent immunity doesn't enjoy immunity. The US earfloods out of total area of 3.2 million hectares. lier stance of showing Davis as a The Ministry has further estimated that the member of US Consulate in Lahore Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Limiting export of cotton, yarn
loss in cotton production will be around 2.6 million bales and production for the season will be around 11.4 million bales. It is necessary to warn that government that any imprudent decision could cause serious problems for the largest foreign exchange earning sector of the economy. It may be said that during first half of the current financial year Pakistan has achieved significant increase in export of textiles and clothing. However, it is a fact that this increase has come mainly because of hike in cotton prices around the globe, including Pakistan. The country still faces a significant shortfall in cotton availability, the biggest evidence being Pakistan importing substantial quantity of cotton from India. The closure of textile units particularly in and around Faisalabad due to load shedding of electricity and gas may give an impression that cotton and yarn supply exceed demand and therefore it would be prudent to export the surplus and earn some foreign exchange. It is necessary to warn the government that the myopic view could have serious implications for the textiles and clothing industry of Pakistan. It is also necessary to say that government should ensure uninterrupted supply of gas and electricity at affordable cost to industrial units rather than saying that since the supply of cotton and yarn exceed demand export of these basic raw materials should be allowed. This irrational decision would have adverse impact on Pakistan's economy resulting in loss of jobs, lower GDP and exports and above all allow Pakistan's traditional competitors to grab its share in the global markets. All along we have been suggested curbing export of raw cotton, yarn and even unprocessed cloth to achieve higher value addition. We understand certain quarters don't like such curbs but the bitter pill has to be swallowed in the largest interest of Pakistan. Curbs on export of cotton and yarn may hurt the interest of a few but will certainly help the country in maximizing return on each kilogram of cotton produced in the country.
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.
was modified and it now insists that he is a staff member of US Embassy in Islamabad. This change of stance has been necessitated to provide the accused greater degree of diplomatic immunity from criminal jurisdiction under Vienna Convention 1961. Our foreign office has yet to clear the mist of confusion about his real status. Even his real name is not known since the US has created confusion by stating that the accused is not Raymond Davis. It has however not intimated his real name so far which means he is an imposter. Presidency, federal and provincial governments are taking cover behind the Lahore High Court (LHC) where Davis case is pending to avert American mounting pressure. The LHC alone cannot do much without the government clarifying certain basic facts about the accused status. The LHC has however taken the initiative to block handover of the accused to his country before completion and decision of the court and has also directed the government to place him on exit control list. In case the Foreign Office caves in under pressure and declares him as a US Embassy member, the US will then be in a stronger position to demand his immediate extradition. It may extend an assurance that Davis will be tried in the US court. If it is proven that Davis is a consulate member, in that case Vienna Convention 1963 allows host country to try him in its own court. The government is being pulled in diverse directions. On one side is the ever increasing US pressure to set him free immediately; on other side is the mounting public pressure not to release him. The situation has become more complicated in the wake of suicide of 18 year old Shumaila, wife of murdered Faheem. Her dying words were that she wanted justice for her slain husband. The couple had been married six months ago. Davis is certainly a member of infamous Blackwater or a CIA agent who had been frequently visiting
Pakistan illegally under a fake name, address and designation. It has now been ascertained that he runs a small private security company in Las Vegas in Colorado. As such he has nothing to do with diplomatic circle. Considering the objectionable weapon, specialized ammunition and equipment that was recovered from his vehicle which had a fake number plate and the precision with which he shot and killed the two moving motorcyclists from inside his moving car is a clear indication that he is a well trained marksman and adept in terrorism. One deceased had four bullet holes in his body and the other had three. Davis is also indirectly responsible for the death of Ubaid and Shumaila. Items found in his car included masks, illegal 9mm glock pistol, make-up kit to change facial appearance, GPS tracker, satellite phone, telescope, five magazines, 75 bullets of prohibited bore, two cutters, two cell phones, ATM cards, first aid kit, PIA tickets, maps, all meant for espionage purposes. His digital camera had photos of several areas he snapped in Sargodha, Multan and Lahore. He was reportedly in charge of these three cities and was tasked to carryout espionage and acts of terror within his area of responsibility. His camera showed a video film as well. Intriguing thing is his choice of photos which included photos of sensitive military installations, bridges, Ack Ack gun positions near bridges and bunkers facing Indian border. These are certainly of no interest to USA since it already is in possession of vivid details of topography and installations captured through satellites. Afghanistan is also least interested in such details but India is certainly keen to acquire information of military significance. This factor deepens the suspicion that Davis may be working for CIA and RAW to earn money from both. His plea of self defence if taken on face value doesn't hold water since on this very plea the Taliban in Afghanistan are fighting the occupy-
Operation in Karachi is not the answer Karachi, the economic hub of the country, has seen worsening law and order situation, especially at the start of this year. Already the city has seen in recent years enough tragedy to warrant the ceaseless sound of mourning. Not a day goes by without a targeted killing taking place and in the first 16 days of January as many as 90 citizens, including a TV reporter, lost their lives in violence perpetrated by those who allegedly are members of mafia protected by political parties. Interior Minister Rehman Malik who dashed to the city pointed towards a third force responsible for the target killings to destabilize the city. The Minister for obvious reasons did not name the third force yet it is no secret that it is the neighboring India which is systematically destabilizing Pakistan through acts of terrorism, not only in Karachi but in FATA
and Balochistan as well. Calls have been made for peace in Karachi. Calls have also been made to call out the army and start an operation there but what is most urgently needed is to find out a political settlement to bring lasting peace to our largest city. If it is a war between various ethnic groups, then it must be realized that no political party or ethnicity can win this battle, even if a particular party or community is temporarily cowed down, the problem will not end. The Mohajirs, Pakhtuns, Sindhis and Baloch cannot wish each other away. Analysts believe that the only solution is to include a political settlement, besides a serious overhaul of governance mechanism. The police force has to be cleansed of politically motivated recruitments. Unless the scourge of ethnic or sectional loyalties is wiped, the
state structure will remain nonviable. There are certain motives behind repeated occurrence of targeted killings, which need to be thoroughly examined and remedial measures taken to ensure lasting peace. This would only be possible if all the stakeholders extend a helping hand to the government and law enforcement agencies. The political parties which wield influence in Karachi need to accept that they must do everything possible to achieve this. Mere commitments made at talks can achieve little. The pledges need to be backed up by genuine commitment to stop the reign of death. Karachi must be saved by forging a solution to its multi-faceted problems. This can happen only if the political forces unite in a quest to remove the guns from the hands of their activists. F Z Khan, Rawalpindi
ing forces. They had picked up arms in self defence after they were hounded, persecuted and killed. As such, they should also not be dubbed as terrorists. Comparing the two examples, Davis is a much bigger terrorist since he was not fired upon and he emptied his magazine on the backs of the two victims. It was not a firefight but a one-sided attack to kill. It is now quite clear that the main accused is a non-diplomat; hence Vienna Convention 1961 becomes invalid for a consulate staff member. Since domestic law takes precedence over international law, 1972 Act overrides 1963 Vienna Convention. 1977 anti-terrorist act is also applicable on Davis who himself has confessed that he is a consultant. Relentless pressure is being exerted on Pakistan by Hillary Clinton, US Ambassador Cameron Munter and other officials to release Davis charged with double murder of two innocent Pakistanis. Their tone is getting shriller and threatening. Zardari's coming state visit to Washington is in jeopardy; so is release of Close Support Fund and fresh installment under Kerry Lugar Bill. Davis is the only topic under discussion between the officials of USA and Pakistan. All other issues have been relegated to the backseat. Hillary Clinton and Cameron Munter did not chew their words in saying that if Davis is not released promptly, it would have repercussions on Pak-US relations. Apparently there is little chance of disruption of relations unless the case is mishandled and in our eagerness to placate the US we bend our rules and let the double murderer go away scot-free without a trial. While the US may or may not get placated, the public will certainly not take it quietly. Already feeling the ripple effect of uprisings in North Africa and fed up of wrongdoings of the rulers, this callous act may ignite another long march in Pakistan and this time the caravan may not stop at Gujranwala.
Mr Obama, stop choking, like smoking 'Obama has kicked smoking habit.' The news though appears a lighter and simple one but it was repeatedly covered by media around the world. It enlightens that one in five adults in US, about 46 million people, still smoke. Three out of four smokers who try to kick the habit of smoking relapse within six months so, Obama has finally done what millions of fellow Americans are still struggling to achieve. The news illustrates that he did this for his friend, wife and especially children. How optimistic it sounds to give up something which has more drawbacks, which can harm more and which only destroy. This particular gesture brought a glimpse in my mind that how wonderful it would be, if he could change his policies which are having more drawbacks and which are coming up with no
progress, the policies which are creating more harm and destruction for the countries and for human beings. What if one can also kick some vicious things in a same way, what if one can kick the policies of drone attacks, vast military operations and doublegames! Alas to this dim and emotional glimpse that one is going to take the things in a way as drone attacks, military operations, and violation of ones country laws, brings nothing but killings and destruction. It only halts the peace process and ruins the relations between states. Peace cannot be attained by bombs but perhaps the addiction of remained powerful and forceful is many times strong enough in order to transform the mind frames in a way beneficial to masses. Maimuna Ashraf, Rawalpindi
Politics by other means Different parables are used to enhance the outreach of language. Sometimes these end up into being counterproductive and elusive. War is politics by other means is understandable, but what if politics in war and a non ending whirlpool of something which is neither war nor politics. Same like demeanor is displayed by a political leadership which is in exile, yet has an immense influence upon its followers. MQM is becoming an extreme leftist party; actually wittily it was on extreme lift in early eighties, then gradually it moved towards the
sensibility of centre. Since last six to seven years, it has again started its flouncy towards old traded roads. More of being a political party, it is being transformed into a cult, an ethno-political entity. The leader of MQM is becoming the larger than life demagogic idol for his followers. The recent aspersions which he made about a coming revolution, the role of judiciary and the non callout attitude of generals is nothing more than political hearsay. Revolutions are brought by mere rhetoric of change or blaming federalism alone
for all things. Take the example of French revolution. It was a class struggle without a leadership; the Marists Revolution was also a class struggle for equalizing the proletariat. The recent Iranian revolution was also a class struggle although with religious desperations. Most of the time revolutions are initially leaderless, but usually hijacked by opportunists. Altaf Husain's desire to bring a revolution is a little too far-fetched. Since last few years he is trying to build upon different popular themes, most of the times his themes are so
divergent that these end up without making any difference on general public. The MQM followers however take their things very sensually and manifest total surrender of will in absolute terms. Why and how the level of allegiance is maintained. Before moving further it has to be answered. Political parties have layers of leadership, but MQM does not have anything beyond the veneer. Its leader is layered people who unwrap his layered intricacies in the public to either confuse the issue or made it too implicated. Fahd F Khan, Jhelum
5
Saturday, February 12, 2011
South East Asian stocks
European shares end higher as Egypt undergoes big change
Singapore posts biggest weekly loss in 9 months
KSE-100 Index Opening Closing Change % Change Turnover (mn)
Bears shove 100-Index below 12k
12,187.47 11,943.34 -244.13 -2.00 111.76
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,654.11 3,565.28 -88.83 -2.43 3.94
Nawaz Ali
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,992.26 2,931.08 -61.18 -2.04 0.04
Major Gainers
Symbol UPFL SIEM FZTM IDYM ILTM
Close
Change
1,340.32 1,095.90 419.00 300.00 127.61
63.81 26.01 18.09 7.86 6.07
Major Losers
Symbol
Close
Change
ULEVER 4,145.50 NESTLE 3,351.10 RMPL 2,873.23 APL 368.79 LAKST 240.01
-195.03 -59.05 -17.07 -11.5 -10.5
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA NPL FFBL NCL ANL
15.93 16.79 40.85 25.45 10.32
11.04 5.77 5.68 5.12 4.69
Active Issues Plus Minus Unchanged
102 246 21
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
FRANKFURT: Williams Formula One car is pictured at Frankfurt's stock exchange.-Reuters
FTSE rallies as Egypt president calls it a day LONDON: Commodity and banking stocks drove Britain's FTSE 100 share index higher on Friday as traders welcomed the decision of the Egyptian President Hosni Mubarak to resign. Egypt's Vice President Omar Suleiman said in a televised statement on Friday that President Hosni Mubarak had bowed to pressure from the street and resigned, handing power to the army. "The market has taken the news well. It has cleared some uncertainty and boosted investor sentiments," Jimmy Yates, head of equities at CMC Markets, said. The FTSE 100 index closed up 42.89 points, or 0.7 per cent, at 6,062.90, bouncing off a session low of 5,973.44. Miners and energy stocks rallied on the news from Egypt. Mid cap miner Centamin Egypt, with signifi-
cant operations in the region, reversed a loss of more than 5 percent to gain 6.4 per cent. Anglo American, which is due to report earnings on Feb. 18, added 3.4 per cent after De Beers, the world's largest diamond producer, returned to profit. Anglo American said it would post underlying earnings of $302 million for the year from its investment in De Beers. Energy heavyweight BG Group climbed 3.5 per cent, hitting an all-time high during the session, with traders citing technical factors and its M&A potential. "We like their outlook for next year and yield. They do continually have takeover speculation. I think the portfolio and exposure to Brazil makes them very attractive to the majors," Martin Dobson, head of trading at Westhouse
Securities, said. Oil explorer Tullow Oil rose 3.8 per cent as Deutsche Bank and Barclays Capital upped their respective target prices on the stock, following an oil discovery at one of its interests in Ghana on Thursday. BANKS REBOUND Banks rebounded as risk appetite returned and investors shrugged aside European debt worries. Lloyds Banking Group added 1.6 per cent, while Barclays pared losses ahead of results due on Tuesday. Insurer Legal & General rose 3.9 per cent on a bullish note from Nomura, which lifted its price target. Concerns over the outlook for retailers saw Next, Marks & Spencer and Kingfisher among the top fallers on London's blue chip index, down 0.5-3.1 per cent. Reuters
Indian markets down for 3rd week MUMBAI: Indian shares snapped a three-day losing streak and gained 1.5 percent on Friday, helped by gains in financials and a late recovery in Anil Ambani shares. However, the benchmark index still shed 1.6 per cent this week and posted its third straight weekly decline. Shares in Anil Ambani-led companies recovered after an early slide after the Reliance ADA Group blamed stock brokers for spreading "baseless sensational charges" against the group. The 30-share BSE index ended up 1.52 per cent, or 265.57 points, to 17,728.61, with 21 of its components advancing. "It looks like there is some bottom-fishing and value buying happening," said Nitin Rakesh, CEO of Motilal Oswal's asset management business, adding that valuations had turned attractive in certain "pockets." "But, it is difficult to say if we have formed a bottom or will we see more pain next week. The corruption issues continue to weigh and may check big gains," said Rakesh. The benchmark has declined 13.6 per cent year-to-date, as foreign funds pulled out $1.5 billion from Indian equities. A spate of corruption scandals has crippled the government, leading to arrests of politicians and company executives, and rattled a market worried about where the next shoe may drop. Corruption scandals and an investor pullback from emerging markets left Indian equity funds among the worst performers in January, while euro zone funds proved the biggest gainers,
Lipper data showed. Reliance Infrastructure closed 5.2 per cent higher, while Reliance Communications firmed 0.6 per cent at close. Reliance Power rose nearly 2 per cent. Financials pulled back after falling for most of the week. The banking sector index rose 3.5 per cent, but is still down1.8 per cent this month. Top lender State Bank of India firmed 3.5 per cent, while leading private lenders ICICI Bank and HDFC Bank gained 4.2 per cent and 2.1 per cent, respectively. Mortgage lenders Housing Development Finance Corp gained 3.9 per cent. Tata Motors, India's leading truck maker that also produces cars, closed 3.8 per cent higher. Towards the market close, it reported quarterly net profit nearly quadrupled, topping forecasts, on strong demand in India and improved performance at its Jaguar and Land Rover unit. Telecom companies continued to be under pressure after India's telecoms regulator proposed steep rises in the price of 2G mobile radio waves earlier this week. Bharti Airtel and Idea Cellular ended down 1.1 per cent and 2.1 per cent, respectively. Nearly three shares advanced for every share that declined in the broader market in a volume of 336 million shares traded on the BSE, higher than its 30-day average daily volume of 306 million shares. The 50-share NSE index gained 1.6 per cent to 5,310. Reuters
KARACHI: Bearish activities were observed at the Karachi Stock Exchange on Friday which ended 2 per cent down below the psychological level of 12,000 points as investors offloaded their positions on concerns over Pak-US relations and likely downgrading of ratings by Moody's. The benchmark KSE-100 index lost 244 points to close at 11,943 points, KSE-30 index fell by 246 points or 2.09 per cent to close at 11,535 points and KSE all-share index decreased by 163 points or 1.93 per cent to close at 8,296 points. "Local investors panicked as soon as the rumour about removal of Pakistani envoy from Washington was aired by the media though US Embassy clarified later", said Samar Iqbal, equity dealer at Topline Securities. But news regarding a likely rating downgrade by Moody's rating agency added fuel to the fire, he added. Trading activities started on a negative note as market was witnessing closure on negative note for the last three sessions but bounced back and stayed in the positive zone mostly during the first trading session. However, strong selling pressure appeared with the beginning of the second session on the rumors that the US has threatened Pakistani ambassador to snap diplomatic ties on demand to release Raymond Davis and
US stocks late-morning
Wall St gains as Mubarak goes out
news that Moody's may downgraded country's ratings if Pakistan fails to address fiscal deficit. Therefore heavy bearish activities were observed during the second session where near the closing bells touched an intra-day low of 11,938 points (ve 249 points) and finally closed near that level. Pakistan could face the risk of a ratings downgrade if it fails to quickly implement reforms to address the growing fiscal deficit, Moody's Investors Service said on Friday. Pakistan currently enjoys B3 rating by Moody's. Allied Bank announced its corporate earnings for the CY10 posting profit after tax of Rs8.28 billion translating into an EPS of Rs10.59. It also announced a cash dividend of Rs2 per share and 10 per cent bonus shares. Though, result was above market expectations, it failed to attract investors' attention. Foreign investors were also on the selling side as the NCCPL data indicated net selling of $1.08 million on Friday. A total of 111.7 million shares traded during the day which is 21.9 million shares more as compared to a turnover of 89.8 million shares on Thursday. Lotte Pakistan stood as the volume leader with 11.04 million shares followed by Nishat Power with 5.77 million shares and Fauji Fertilizer Bin Qasim with 5.68 million shares. Out of total 369 active issues; 246 declined and 102 advanced while 21 issues remained unchanged.
ANNOUNCEMENTS Company Period Div/Bon/Right IGI Insurance Yearly 20%D 35%B Allied Bank Ltd.(Consolidated)Yearly 20%(F)D 10%B Allied Bank Ltd. Yearly PICIC Inv.Fund Half Yearly 7.5%(i)D PICIC Growth Fund Half Yearly 12.5%(i)D PICIC Energy Fund Half Yearly 10%(i)D Nishat Power Ltd. Half Yearly IGI Inv.Bank Half Yearly Cherat Cement Half Yearly Sigma Leasing Half Yearly -
PAT (Rs in mn) 836.56 8283.82 8225.33 534.54 1017.83 264.39 1210.93 23.19 11.27 13.68
EPS(Rs) 11.64 10.59 10.52 0.92 1.67 1.21 3.42 0.11 0.12 0.46
NEW YORK: US stocks rose on Friday as investors welcomed news that Egyptian President Hosni Mubarak resigned, easing concerns that have been weighing on the market for weeks. As Mubarak stepped down, Egypt's vice president named a military council to run the country after 18 days of mass protests, state television said. Market Vectors Egypt Index ETF rallied on the news, up 6.3 per cent to $18.93. "The markets are clearly celebrating the end of Mubarak. I think that is a speculative thing to do it may work, and you may find out that it is way too soon to celebrate the crisis is over," said David Kotok, chief investment officer at Cumberland Advisors in Sarasota, Florida. Domestically, the Obama administration declared the public-private housing finance model in place for the past four decades was dead but pledged to continue backing existing obligations of Fannie Mae and Freddie Mac. Shares of mortgage insurers rose, with PMI Group up 6.8 per cent to $3.47 and Radian Group 13 per cent higher at $8.00. The Dow Jones industrial average was up 31.79 points, or 0.26 per cent, at 12,261.08. The Standard & Poor's 500 Index was up 5.25 points, or 0.40 per cent, at 1,327.12. The Nasdaq Composite Index was up 8.87 points, or 0.32 per cent, at 2,799.32. On the S&P 500, the energy sector was the weakest performing after oil prices declined along with worries of possible oil production disruption in the Middle East. "One thing that has weighed on investor sentiment is that the price of oil would go up in the case of political turmoil, and Mubarak's leaving reduces that possibility," said Gary Thayer, chief macro strategist at Wells Fargo in St. Louis, Missouri Reuters
Shanghai edges higher
HK shares post worst week in nine months HONG KONG/SHANGHAI: Hong Kong shares eked out gains on Friday but posted their worst weekly decline in nine months as investors took profits in Greater China markets that have outperformed the region so far this year. The benchmark Hang Seng Index closed up 0.5 per cent on the day but lost 4.5 per cent on the week. The index closed at 22,829 points, slipping below a trendline support, currently around 23,163, on the charts that had held since May last year, raising the risk of a retest of the December 2010 low around 22,400.The Shanghai Composite Index closed 0.3 per cent higher, supported by a rally in the property sector, for a 1 percent gain on the holidayshortened week. Mainland markets have outperformed those in Hong Kong this month, taking the valuation premium at which Chinese A-shares trade over their Hong Kong-listed peers to the highest since May 2010, with some analysts predicting mainland markets to continue to outperform this year. The property sub-index rose 1.7 per cent and was up on the week after a tepid performance since mid-January as news of further policy tightening in China, in part to cool the red hot real estate market, weighed on the sector. A report in an official news-
paper which said house prices had continued to rise in January bolstered sentiment. "The property sector has now priced in the negative news of property tax, so any positive news may boost it. Moreover, this sector's valuation is still low," said Wen Lijun, analyst at Nanjing Securities. Vanke, the country largest developer and the most active issue on the Shenzhen market, rose one per cent, while China Enterprise Co., the biggest gainer on the Shanghai market, jumped to its 10 per cent daily limit. Economic data for January due next week is expected to show that lending surged and inflation accelerated, prompting concerns among some investors that the central bank could take more steps to control money supply and tighten policy, after raising interest rates this week. HK ON THE BACKFOOT Hong Kong's market has taken a hit as most North Asian markets succumbed to profit-taking, with South Korea's KOSPI dropping 4.6 per cent on the week and Taiwan's TAIEX down nearly 6 per cent. With emerging market "dominoes" continuing to fall, clients are becoming increasingly nervous and are buying downside protection through put options, said a Hong Kong-based trader at
a large US investment bank. "The S&P remains vulnerable at 1320, it needs to correct to even think about buying," said the trader. In Hong Kong, shares of HSBC, which have supported the broader market through the week, fell 0.7 per cent, limiting gains for the broader market even as other large caps recovered from the week's losses. Tencent Holdings Ltd jumped 5.3 per cent on healthy volume and resumed its upward trend that has seen shares of China's dominant internet gaming company rise 17 per cent this year, easily outpacing the Hang Seng's 0.9 per cent decline. Hong Kong Exchanges & Clearing ended 0.7 per cent higher after trading in the red for most of the day as shortsellers, who were very active in the counter on Thursday, covered some positions. HKEx shares had slumped nearly 5 per cent on over 7 times their average 30-day volume in the previous session with over 10 percent of the stock's turnover on the short side. HKEx, the world's biggest stock exchange operator by market value, has been in the news this week as Western exchanges scramble to merge in an attempt to preserve market share as alternative venues and shrinking margins from cash equity trading threaten their business models. Reuters
6
Saturday, February 12, 2011
Market 111,757,018
Value
4,474,702,333
Trades
58,698
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
102 246 21 369
All Share Index
11,943.34 12,236.99 11,938.24 i244.13
Current High Low Change
KSE 30 Index
8,296.13 8,495.98 8,292.52 i163.31
Current High Low Change
KMI 30 Index Current High Low Change
11,535.33 11,843.09 11,487.82 i246.60
19,275.88 19,804.16 19,185.97 i410.63
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,547.38 Turnover 5,653,152 P/E (x) 11.01 Company
KSE 100 Index
Symbols
Volume
High Low 1,555.29 1,496.88 Total cos Defaulter cos P/BV (x) ROE (%) 3.58 32.54
Close Change 1,513.52 -33.87 Listed cap Market cap 65,194.15 mn 1,170,839.27 mn Payout (%) Div Yield (%) 55.94 5.08
PE
Open
High
Low
Close Chg
Volume
Attock Petroleum 691 6.66 Attock Refinery 853 4.65 BYCO Petroleum 3921 Mari Gas Company 735 16.43 National Refinery 800 5.54 Oil & Gas Development 43009 11.29 Pak Petroleum 11950 7.49 Pak Oilfields 2365 7.20 Pak Refinery Limited 350 P.S.O 1715 4.63 Shell Gas LPG 226 Shell Pakistan 685 10.63
380.29 119.12 9.82 124.95 272.54 169.78 210.04 320.57 105.29 280.26 31.50 214.68
380.00 119.85 9.89 126.00 275.00 170.50 211.38 321.75 107.58 282.43 32.49 215.00
365.06 113.17 9.35 120.00 265.05 165.00 202.50 310.50 100.03 268.00 30.35 206.00
368.79 -11.50 114.06 -5.06 9.42 -0.40 121.25 -3.70 267.19 -5.35 166.83 -2.95 204.98 -5.06 312.30 -8.27 100.37 -4.92 273.47 -6.79 30.50 -1.00 207.27 -7.41
169148 923793 696203 36123 191090 281110 1238993 1874457 136930 779334 2596 19578
Last 60 days High Low 401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00
302.25 113.17 9.35 117.00 251.80 157.56 191.10 250.20 81.01 268.00 30.35 194.00
% Change -2.19 5-Day High 1,583.28 5-Day Low 1,513.52
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 - 50.00 -
-
CHEMICALS
Open 739.00 Turnover 45,287 P/E (x) 5.44 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
High Low 747.17 717.21 Total cos Defaulter cos P/BV (x) ROE (%) 1.39 25.53
Close 719.80 Listed cap 3,242.17 mn Payout (%) 11.08
Change -19.20 Market cap 12,341.59 mn Div Yield (%) 2.04
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
6.85 35.92
72.82 34.62
73.80 34.70
71.00 32.89
71.24 -1.58 33.05 -1.57
15754 29533
76.65 39.45
68.00 32.36
Company
Company
Paid up Cap(mn)
High Low 1,608.53 1,557.63 Total cos Defaulter cos P/BV (x) ROE (%) 3.35 35.00
PE
Open
High
Low
Agritech Limited 3924 8.09 BOC (Pak) 250 12.54 Clariant Pak 273 7.06 Dawood Hercules 1203 7.98 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.54 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.18 Fauji Fert.Bin Qasim 9341 7.71 Ghani Gases Ltd 725 8.53 ICI Pakistan 1388 8.21 Lotte Pakistan 15142 5.86 Mandviwala 74 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 8.72 Sitara Peroxide 551 14.76 United Distributors 92 Wah-Noble 90 6.94
23.50 93.50 200.90 198.10 3.11 7.86 3.00 11.11 213.66 13.16 11.97 151.20 41.21 11.40 148.26 16.18 1.43 2.78 2.34 108.50 14.11 14.10 37.63
24.18 93.95 201.91 199.00 3.50 8.14 3.24 11.38 215.50 13.49 11.96 152.87 41.70 11.45 149.10 16.44 1.44 2.82 2.40 107.00 14.20 14.95 37.70
22.33 89.85 196.00 192.00 3.05 7.60 2.86 11.00 208.10 12.90 11.70 148.60 40.50 11.11 145.00 15.77 1.26 2.40 2.05 104.00 13.50 14.25 36.01
Close Chg 22.34 91.27 197.25 192.53 3.12 7.68 2.98 11.22 210.07 13.22 11.75 149.24 40.85 11.26 145.78 15.93 1.40 2.53 2.20 106.33 13.58 14.25 36.10
-1.16 -2.23 -3.65 -5.57 0.01 -0.18 -0.02 0.11 -3.59 0.06 -0.22 -1.96 -0.36 -0.14 -2.48 -0.25 -0.03 -0.25 -0.14 -2.17 -0.53 0.15 -1.53
Close 1,568.42 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 124391 10527 19706 14489 1128635 308733 3311344 3200 1512521 1544650 985900 3172752 5681184 39214 267049 11040772 22729 2185555 1016 4128 277258 102 6455
Change -23.36 Market cap 345,076.58 mn Div Yield (%) 5.10
26.73 103.94 213.30 215.00 3.74 9.25 4.24 11.98 222.80 15.87 12.64 157.90 43.99 13.07 158.49 16.80 2.45 3.17 3.10 139.40 14.69 14.99 41.99
20.91 77.05 151.55 165.73 2.37 6.90 1.52 9.15 178.21 12.51 9.16 108.80 33.05 11.00 132.70 11.70 1.01 1.40 2.02 104.00 12.70 8.51 32.22
% Change -1.47 5-Day High 1,607.80 5-Day Low 1,568.42
2010 Div BR (%) (%) 15 135 40 15 40 130 52.5 55 5 25 50
25B 25B 5B -
2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,053.65 Turnover 43,590 P/E (x) 5.24 Company
High Low 1,086.29 1,016.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.39 7.47
Close 1,051.92 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.37 6.79
16.13 44.00 37.75
16.24 46.20 39.50
15.13 41.80 37.25
15.95 -0.18 43.50 -0.50 38.00 0.25
12030 152 31408
Century Paper Pak Paper Product Security Paper
Change -1.73 Market cap 2,916.35 mn Div Yield (%) 4.82
Last 60 days High Low 19.69 48.90 47.70
14.95 39.00 37.25
% Change -0.16 5-Day High 1,053.91 5-Day Low 1,047.32
2010 Div BR (%) (%) 2533.33B 50 -
2011 Div BR (%) (%) -
-
Paid up Cap(mn)
PE
High Low 1,287.72 1,247.82 Total cos Defaulter cos P/BV (x) ROE (%) 1.19 25.35
Open
High
Low
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering Transmission
144 5.31 71.98 101 5.77 195.41 247 36.19 40.50 626 9.48 136.35 890 1.99 56 4.77 197.60 598 19.94 23.50 450 3.13 4.50 200 7.03 4.30 1428 - 11.19 786 6.60 290.00 823 10.00 63.69 150 4.34 23.25 117 1.30
74.97 197.49 42.00 140.00 2.12 194.90 24.29 4.99 4.50 11.20 290.00 65.89 24.00 1.30
70.00 190.90 38.48 130.00 1.78 188.01 22.80 4.33 4.20 10.75 288.25 62.50 22.55 1.30
Close Chg
Close 1,260.30 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -9.36 Market cap 46,745.78 mn Div Yield (%) 4.36
Last 60 days High Low
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International IndSPOT
PE
565 3.02 675 555 8.99 1199 18.22
Open 29.03 2.50 14.19 51.28
High 29.10 2.50 14.50 52.00
Low 28.50 2.35 14.05 49.50
Close Chg 28.90 2.35 14.38 50.10
-0.13 -0.15 0.19 -1.18
Close 1,011.09 Listed cap 3,596.11 mn Payout (%) 30.91
14600 75366 23355 15140
31.00 3.29 16.51 62.20
Open 1,826.38 Turnover 289,246 P/E (x) 47.22 Company
Paid up Cap(mn)
AL-Abbas Sugar XD 174 Clover Pakistan 94 Colony Sugar Mills 990 Crescent Sugar 214 Dewan Sugar 365 Fecto Sugar 146 Habib Sugar 750 Habib-ADM Ltd 200 Haseeb Waqas XD 324 Ismail Ind 505 J D W Sugar 539 Mehran Sugar XD XB 157 Mirza Sugar XD 141 National Foods 414 Noon Pakistan 48 Quice Food 107 S S Oil 57 Shahmurad Sugar XD 211 Shahtaj Sugar 120 Shakarganj Mills 695 Tandlianwala 1177 UniLever Pakistan 665
PE
Change -17.76 Market cap 9,718.95 mn Div Yield (%) 9.77
24.01 2.35 13.81 44.75
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dadex Eternit Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gharibwal Cement Haydery Const Javedan Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement
PE
Open
High
Low
1828 866 6.38 858 182 14 956 41.25 982 14.15 108 948 3891 3651 112.50 350 3.43 6933 6.24 502 3.65 1760 4003 32 581 1288 13126 3234 6.08 5261 1.20 541 3.17 2228 200 361 798 458.50
3.00 51.50 2.46 19.00 11.00 9.95 1.85 19.00 2.00 1.99 28.33 2.91 4.56 7.35 1.71 6.29 0.67 62.50 6.06 3.12 68.60 2.68 4.18 6.50 7.00 8.00 17.70
3.09 52.40 2.80 19.00 10.10 10.20 1.90 20.00 2.00 2.19 28.60 3.05 4.66 7.01 1.73 6.85 0.63 62.00 6.03 3.23 69.30 2.69 4.31 6.70 6.90 8.40 18.39
2.81 49.16 2.25 18.20 10.00 9.55 1.84 18.06 2.00 1.85 26.92 2.15 4.45 7.00 1.63 5.30 0.51 59.70 5.99 3.00 66.00 2.51 4.26 6.11 6.50 7.00 17.40
Close 897.24 Listed cap 54,792.74 mn Payout (%) 19.04
% Change -1.73 5-Day High 1,034.29 5-Day Low 1,011.09
2010 Div BR (%) (%) 30 55
2011 Div BR (%) (%)
- 10.00 20B -
Change -20.07 Market cap 64,553.15 mn Div Yield (%) 2.92
Close Chg
Volume
Last 60 days High Low
2.82 50.43 2.25 18.60 10.10 9.90 1.84 19.96 2.00 1.90 27.00 2.88 4.49 7.00 1.65 6.85 0.61 59.70 6.00 3.06 67.67 2.57 4.31 6.26 6.50 8.40 18.34
18597 62854 2060 5055 501 10551 247 1007 500 193989 2631283 4639 225209 13301 52878 505 1105 400 58484 1377173 805010 153662 588 10703 2505 144 10050
3.98 65.99 4.24 24.16 15.50 12.59 2.49 25.75 3.49 3.10 32.30 4.00 5.55 8.20 2.25 9.19 0.99 64.52 8.70 3.88 78.44 3.30 8.74 8.20 7.95 9.60 20.44
-0.18 -1.07 -0.21 -0.40 -0.90 -0.05 -0.01 0.96 0.00 -0.09 -1.33 -0.03 -0.07 -0.35 -0.06 0.56 -0.06 -2.80 -0.06 -0.06 -0.93 -0.11 0.13 -0.24 -0.50 0.40 0.64
-
2.75 49.16 1.10 17.10 7.91 9.55 1.50 18.06 1.60 1.58 26.92 2.15 4.45 6.95 1.60 3.06 0.25 56.05 5.99 2.95 66.00 2.51 3.21 6.11 5.30 7.00 16.75
% Change -2.19 5-Day High 941.61 5-Day Low 897.24
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
2011 Div BR (%) (%) -
92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 999.03 Turnover 122,693 P/E (x) 2.69 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
Paid up Cap(mn)
PE
Open
115 2.77 63.58 230 2.60 1067 4.81 53.58 389 3.92 47 17.81 32.91 844 61.82 126.28 300
9.25 129.67
High
High Low 1,008.43 960.96 Total cos Defaulter cos P/BV (x) ROE (%) 1.18 43.91 Low
Close Chg
62.25 60.41 60.41 2.66 2.41 2.60 52.87 52.10 52.32 4.00 3.75 3.75 33.80 31.27 32.06 127.89 120.00 120.54
-3.17 0.00 -1.26 -0.17 -0.85 -5.74
129.50 124.00 126.81 -2.86
Close 982.03 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change -17.00 Market cap 36,944.37 mn Div Yield (%) 5.77
Last 60 days High Low
% Change -1.70 5-Day High 1,011.19 5-Day Low 982.03
2010 Div BR (%) (%)
2011 Div BR (%) (%)
127702 16025 7100 7659 22881 36147
83.23 3.30 56.45 4.14 33.80 143.00
52.50 1.82 45.30 2.43 17.10 103.52
20 25 -
25B 10B -
-
50R -
32828
144.50
104.00
-
-
-
-
Company
Paid up Cap(mn)
Pak Elektron Singer Pak Tariq Glass Ind
PE
1219 3.37 341 26.18 231 2.30
Close 1,559.03 Listed cap 1,336.62 mn Payout (%) 131.49
Change -6.56 Market cap 33,600.86 mn Div Yield (%) 15.81
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Ados Pak
66
0.97
15.96
15.41
15.05
15.05 -0.91
2690
18.20
14.12
-
2418 11200 24334
244.95 13.50 568.40
206.00 10.51 482.00
150 650
215 213 366
5.49 232.75 9.81 11.10 8.29 540.60
234.00 222.56 229.07 -3.68 10.90 10.55 10.59 -0.51 545.50 538.00 538.28 -2.32
90 100 60 20 150 10 -
20B 20B -
-
-
High
Low
Close Chg
Close 1,783.06 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change -43.31 Market cap 273,060.05 mn Div Yield (%) 0.65
Last 60 days High Low
50000 102.89 89.78 183 78.40 46.15 2122 5.70 2.40 737 7.15 5.00 12100 5.59 1.60 1159 55.00 28.00 159158 36.50 21.35 500 12.95 11.50 346 23.62 14.71 1000 81.12 68.60 1483 92.50 68.00 15027 68.49 52.60 2000 7.18 4.01 1603 75.50 41.52 600 27.30 21.00 32500 4.00 2.05 1000 3.85 2.50 701 13.50 8.30 127 100.26 50.93 2002 7.88 4.46 4530 43.00 31.50 121 4818.00 3916.04
2010 Div BR (%) (%)
% Change -2.37 5-Day High 1,837.00 5-Day Low 1,783.06 2011 Div BR (%) (%)
50 15 25 25B 40 10 17.5 110R 7010B 12.5R 35 20B 7.50 10 12 12 10 178 -
-
Open 13.80 22.35 20.04
High 14.20 23.40 20.60
High Low 1,112.28 1,043.56 Total cos Defaulter cos P/BV (x) ROE (%) 0.30 10.64 Low 13.00 23.20 19.05
Close Chg 13.36 -0.44 23.30 0.95 19.20 -0.84
Close 1,062.77 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 153069 202 78831
Change -23.19 Market cap 5,116.34 mn Div Yield (%) 2.24
Last 60 days High Low 15.88 23.62 24.00
13.00 17.55 15.90
2010 Div BR (%) (%) 17.5
10B -
% Change -2.14 5-Day High 1,110.02 5-Day Low 1,062.77 2011 Div BR (%) (%) - 200R
Performance of SR Personal Goods Index Open 988.94 Turnover 14,090,837 P/E (x) 6.98 Company
Paid up Cap(mn)
(Colony) Thal Amtex Limited Artistic Denim Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Chenab Limited Colony Mills Ltd Crescent Fibres Ltd Crescent Textile D S Ind Ltd Dawood Lawrencepur Dewan Farooque Spin. Dewan Mushtaq Textile Din Textile Fazal Textile Gadoon Textile XD Ghazi Fabrics Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile J K Spinning Janana D Mal Kohinoor Ind Kohinoor Textile Leather Up Masood Textile Moonlite (PAK) Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Ravi Textile Reliance Weaving Rupali Poly Sajjad Textile Samin Textile Saritow Spinning Service Ind Shadman CotSPOT Shahpur Textile Shahtaj Textile Tata Textile Thal Limited Treet Corp Tri-Star Poly Zil Limited
56 2594 840 133 4493 33 76 76 141 1150 2442 124 492 600 514 600 34 204 62 234 326 635 146 222 716 3105 180 184 43 303 1455 60 600 22 1614 3516 560 174 62 250 308 341 213 267 133 120 176 140 97 173 307 418 215 53
High Low 1,001.00 981.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.60 8.64
PE
Open
High
Low
8.48 6.11 0.28 0.47 0.49 5.18 0.45 3.84 0.65 3.41 42.95 3.39 0.14 0.61 3.34 0.82 1.06 4.17 1.08 0.88 0.70 3.95 3.42 1.10 0.22 3.57 1.19 1.99 2.11 5.49 4.24 0.88 0.48 0.67 5.03 5.00 0.25 7.26 2.79 0.51 0.40 5.05 8.58 4.67
1.35 3.81 22.00 2.63 10.92 11.41 14.00 631.77 1.49 2.85 2.41 15.10 17.40 1.65 36.57 3.42 4.01 29.90 400.91 76.50 5.50 29.00 6.00 7.68 3.81 52.38 3.50 8.24 14.45 1.50 5.00 1.31 17.82 16.80 25.28 65.05 12.96 12.05 29.69 1.28 9.60 40.53 0.42 6.25 1.75 221.06 16.15 0.37 20.05 39.99 118.09 56.72 0.84 66.50
1.40 3.90 23.10 2.20 11.13 12.41 14.00 632.50 1.69 2.98 2.74 14.10 17.74 1.75 38.00 4.20 4.49 28.41 419.00 75.50 6.50 29.25 6.00 7.48 3.90 51.55 3.50 7.26 15.40 1.54 5.23 1.80 18.82 17.00 26.39 65.90 13.25 12.05 30.45 1.44 9.60 41.90 0.42 6.59 1.55 226.80 16.95 0.49 19.05 41.00 119.99 57.00 1.29 69.82
1.25 3.70 21.60 2.00 10.12 10.50 13.51 625.00 0.95 2.60 2.06 14.10 16.45 1.55 36.50 3.40 4.01 28.41 415.99 75.00 5.50 28.01 5.32 7.25 3.70 49.77 3.15 7.24 13.50 1.42 4.95 1.00 17.20 17.00 25.02 62.57 12.50 12.05 28.21 1.21 9.50 40.00 0.42 6.00 1.55 210.01 15.20 0.37 19.05 38.00 116.02 53.89 0.55 66.00
Close Chg 1.25 3.73 22.00 2.00 10.32 11.47 13.99 625.25 1.69 2.70 2.46 14.10 17.72 1.60 36.51 4.20 4.49 28.41 419.00 75.50 6.50 29.05 5.66 7.26 3.71 50.20 3.15 7.24 13.51 1.43 5.00 1.00 18.82 17.00 25.45 63.91 12.55 12.05 30.30 1.27 9.58 40.01 0.42 6.00 1.55 212.00 15.30 0.37 19.05 41.00 118.10 53.89 0.56 69.78
-0.10 -0.08 0.00 -0.63 -0.60 0.06 -0.01 -6.52 0.20 -0.15 0.05 -1.00 0.32 -0.05 -0.06 0.78 0.48 -1.49 18.09 -1.00 1.00 0.05 -0.34 -0.42 -0.10 -2.18 -0.35 -1.00 -0.94 -0.07 0.00 -0.31 1.00 0.20 0.17 -1.14 -0.41 0.00 0.61 -0.01 -0.02 -0.52 0.00 -0.25 -0.20 -9.06 -0.85 0.00 -1.00 1.01 0.01 -2.83 -0.28 3.28
Close 985.16 Listed cap 47,070.70 mn Payout (%) 16.68
Volume 1502 245703 10353 9500 4688797 3255 14900 648 1001 75004 15529 500 10001 259713 21533 501 6025 5000 101 1001 500 9701 226 1140 5743 49100 13300 8500 1404 10160 4502 105 3830 5000 5124169 2838244 131400 200 12002 31843 56500 25116 50000 5003 9399 107964 3282 501 230 6451 1911 64630 4510 133196
Change -3.78 Market cap 136,253.28 mn Div Yield (%) 2.39
Last 60 days High Low 1.50 5.28 24.59 3.00 12.84 15.25 15.10 705.00 2.80 3.76 2.97 15.10 23.99 2.10 47.00 8.00 8.90 29.94 454.50 77.40 6.50 33.19 8.86 8.50 4.47 55.00 3.90 9.50 18.00 2.00 5.95 3.00 20.74 17.00 26.58 71.89 14.45 12.40 34.40 1.98 10.34 42.70 3.74 7.00 2.89 276.50 16.95 0.70 20.29 42.00 132.00 63.30 1.49 72.49
2010 Div BR (%) (%)
0.61 3.65 30 19.40 20 1.32 7.5 9.20 8.10 - 15B 12.40 20 580.00 0.95 2.60 2.06 10.00 10 16.45 15 1.55 35.00 5 3.10 2.90 24.02 20 10B 371.02 100 47.00 70 2.99 10 24.00 12.5 5.26 10 6.30 10 20B 3.31 10 36.26 20 2.70 10 4.05 20 5B 13.40 0.75 4.81 1.00 17.10 15 100R 4.50 21.15 15 52.80 25 45R 6.21 8.25 10 10B 25.00 50 0.65 8.50 25SD 34.70 40 0.15 5.11 - 100R 1.00 195.00 7.00 0.20 16.35 45 30.00 25 96.30 80 20B 50.76 0.43 43.01 35 -
% Change -0.38 5-Day High 994.19 5-Day Low 985.16 2011 Div BR (%) (%) -
-
PHARMA AND BIO TECH Performance of SR Pharma and Bio Tech Index
Company
AL-Ghazi Tractor Ghandhara Ind Millat Tractors XB
67.79 155.26 15.00 96.90 1.40 150.00 21.00 4.33 4.01 10.60 248.00 62.50 18.80 1.30
PERSONAL GOODS
Performance of SR Industrial Engineering Index High Low 1,581.37 1,554.63 Total cos Defaulter cos P/BV (x) ROE (%) 3.16 38.02
Open
Open 1,085.96 Turnover 232,122 P/E (x) 2.80
INDUSTRIAL ENGINEERING Open 1,565.59 Turnover 40,734 P/E (x) 8.32
82.63 205.00 43.26 143.80 2.89 217.44 26.74 5.36 5.75 13.40 309.73 77.90 24.00 2.45
Total Assets (Rs in mn)
840.05
1.68
Total Equity (Rs in mn)
(309.63)
MA (100-day)
1.78
Revenue (Rs in mn)
913.02
MA (200-day)
2.02
Interest Expense
1st Support
1.55
Loss after Taxation
(23.38)
2nd Support
1.45
EPS 10 (Rs)
(0.390)
88.07
1st Resistance
1.75
Book value / share (Rs)
2nd Resistance
1.85
PE 11 E (x)
Pivot
1.65
PBV (x)
(5.16) (0.31)
DSIL closed down -0.05 at 1.60. Volume was 53 per cent above average and Bollinger Bands were 9 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 21.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of DSIL (mildly bearish). Trend forecasting oscillators are currently bearish on DSIL.
JS Bank Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
57.93
Total Assets (Rs in mn)
32,894.92
MA (10-day)
2.48
Total Equity (Rs in mn)
5,654.56
MA (100-day)
2.56
Revenue (Rs in mn)
2,527.30
MA (200-day)
2.65
Interest Expense
1,806.71
1st Support
2.55
Loss after Taxation
(594.94)
2nd Support
2.41
EPS 09 (Rs)
1st Resistance
2.84
Book value / share (Rs)
2nd Resistance
2.99
PE 10 E (x)
Pivot
2.70
PBV (x)
(0.98) 9.23 0.29
JSBL closed up 0.02 at 2.64. Volume was 266 per cent above average (trending) and Bollinger Bands were 9 per cent narrower than normal. The company's loss after taxation stood at Rs404.872 million which translates into a Loss Per Share of Rs0.66 for the nine months of current calendar year (9MCY10). JSBL is currently 0.4 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 volume flowing into and out of JSBL at a relatively equal pace. Trend forecasting oscillators are currently bullish on JSBL.
Telecard Limited
HOUSEHOLD GOODS
CONSTRUCTION AND MATERIALS High Low 930.82 878.85 Total cos Defaulter cos P/BV (x) ROE (%) 0.46 7.10
260 6289 7001 5095 123503 1010 6004 10292 25001 5201 21305 4973 12268 448
High Low 1,865.45 1,769.12 Total cos Defaulter cos P/BV (x) ROE (%) 14.31 30.30
7.03 97.00 93.90 92.15 93.06 -3.94 - 59.37 56.41 56.41 56.41 -2.96 7.35 3.09 3.35 2.40 2.94 -0.15 0.63 6.25 6.50 6.26 6.26 0.01 3.00 3.25 3.00 3.00 0.00 - 34.26 35.97 35.90 35.97 1.71 8.73 22.46 22.60 21.61 21.99 -0.47 7.44 12.48 12.20 12.20 12.20 -0.28 - 15.71 16.71 14.71 16.71 1.00 35.46 78.48 80.50 78.99 79.42 0.94 1.29 71.15 73.75 71.15 72.84 1.69 1.84 56.49 56.50 56.00 56.50 0.01 4.40 4.20 4.20 4.20 -0.20 21.27 56.90 57.00 55.50 57.00 0.10 3.36 22.43 23.55 23.50 23.55 1.12 8.09 3.12 4.00 3.45 3.56 0.44 0.25 3.10 2.95 2.95 2.95 -0.15 2.84 8.81 9.00 8.30 8.30 -0.51 4.09 59.09 62.04 56.14 61.09 2.00 0.33 4.90 5.48 4.65 4.65 -0.25 14.99 40.12 42.12 40.35 41.97 1.85 19.35 4340.53 4384.46 4125.02 4145.50 -195.03
Performance of SR Construction and Materials Index Open 917.31 Turnover 5,640,498 P/E (x) 6.52
-1.83 -2.09 0.03 0.20 -0.03 -2.77 -0.37 0.00 0.20 -0.29 -1.00 -0.90 0.00 0.00
2011 Div BR (%) (%)
41.05
MA (10-day)
Performance of SR Household Goods Index
Last 60 days High Low
Volume
70.15 193.32 40.53 136.55 1.96 194.83 23.13 4.50 4.50 10.90 289.00 62.79 23.25 1.30
2010 Div BR (%) (%)
% Change -0.74 5-Day High 1,280.19 5-Day Low 1,260.30
RSI (14-day)
FOOD PRODUCERS
Performance of SR Industrial Metals and Mining Index High Low 1,038.94 998.87 Total cos Defaulter cos P/BV (x) ROE (%) 1.05 33.10
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
Performance of SR Food Producers Index
INDUSTRIAL METALS AND MINING Open 1,028.85 Turnover 128,523 P/E (x) 3.16
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,591.78 Turnover 29,547,806 P/E (x) 9.57
-
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,269.66 Turnover 228,651 P/E (x) 4.69
D. S. Industries Limited
% Change -2.60 5-Day High 754.58 5-Day Low 719.80
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
% Change -0.42 5-Day High 1,596.58 5-Day Low 1,559.03
2010 Div BR (%) (%) -
2011 Div BR (%) (%) -
-
25B325.00
-
Open 910.63 Turnover 26,930 P/E (x) 6.53 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis
Paid up Cap(mn) 979 250 1707 165 200 96
PE
Open
8.25 95.08 6.88 95.47 13.14 74.98 7.25 27.28 7.45 8.99 12.89 170.50
High
High Low 915.97 890.72 Total cos Defaulter cos P/BV (x) ROE (%) 1.46 22.31 Low
Close Chg
95.50 94.00 94.08 98.00 90.70 91.11 74.99 73.00 73.06 26.90 26.13 26.16 9.44 8.10 9.24 172.00 161.98 161.98
-1.00 -4.36 -1.92 -1.12 0.25 -8.52
Close 892.42 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 3614 2676 7318 773 1022 11476
Change -18.21 Market cap 29,828.40 mn Div Yield (%) 6.82
Last 60 days High Low 112.50 98.00 89.98 30.48 9.99 174.00
94.00 82.50 70.00 24.15 7.16 116.00
2010 Div BR (%) (%) 20 -
20B -
% Change -2.00 5-Day High 910.63 5-Day Low 892.42 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
41.09
Total Assets (Rs in mn)
9,610.12
MA (10-day)
2.10
Total Equity (Rs in mn)
3,400.99
MA (100-day)
2.25
Revenue (Rs in mn)
2,414.18
MA (200-day)
2.53
Interest Expense
530.45
1st Support
2.02
Profit after Taxation
698.46
2nd Support
1.93
EPS 10 (Rs)
2.328
1st Resistance
2.19
Book value / share (Rs)
11.34
2nd Resistance
2.27
PE 11 E (x)
0.61
Pivot
2.10
PBV (x)
0.18
TELE closed down -0.09 at 2.06. Volume was 50 per cent below average (consolidating) and Bollinger Bands were 14 per cent narrower than normal The company's profit after taxation stood at Rs251.746 million which translates into an Earning Per Share of Rs0.84 for the 1st quarter of current fiscal year (1QFY11). TELE is currently 18.3 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of TELE at a relatively equal pace. Trend forecasting oscillators are currently bearish on TELE.
Lafarge Pakistan Cement Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
34.89
Total Assets (Rs in mn)
19,704.24
MA (10-day)
3.19
Total Equity (Rs in mn)
9,763.73
MA (100-day)
3.14
Revenue (Rs in mn)
8,129.96
MA (200-day)
3.08
Interest Expense
1st Support
2.97
Loss after Taxation
2nd Support
2.87
EPS 09 (Rs)
1st Resistance
3.20
Book value / share (Rs)
2nd Resistance
3.33
PE 10 E (x)
Pivot
3.10
PBV (x)
1,230.81 (1,278.96) (0.974) 7.44 0.41
LPCL closed down -0.06 at 3.06. Volume was 46 per cent below average and Bollinger Bands were 4 per cent wider than normal. The company's loss after taxation stood at Rs1.045 billion which translates into a Loss Per Share of Rs0.80 for the nine months of current calendar year (9MCY10). LPCL is currently 0.5 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 LPCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on LPCL.
BOOK CLOSURES Company
From
To
Dewan Farooque Motors # (TFC) Allied Bank (TFC) Pakarab Fertilizers Int Ind (Consolidated) KASB Cash Fund Kohinoor Mills # Ideal Energy # Olympia Spng & Weaving Mills # Millat Tractors Shadman Cotton Mills Reliance Cotton Spng Mills # Mehran Sugar Mills Frontier Ceramics Gharibwal Cement Ansari Sugar Mills Tandlianwala Sugar Mills Zeal Pak Cement Descon Oxychem # Int Industries # Pakistan Oilfields Fauji Fertiliser
14-Feb 14-Feb 15-Feb 16-Feb 17-Feb 17-Feb 18-Feb 18-Feb 18-Feb 19-Feb 19-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 22-Feb 23-Feb
21-Feb 27-Feb 28-Feb 24-Feb 24-Feb 26-Feb 26-Feb 24-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 01-Mar 01-Mar
D/B/R 15(I) 325(I) 5 7.5(I) 100(I) 35(F)25(B)
Spot AGM/Date 08-Feb 09-Feb 10-Feb 10-Feb 11-Feb 14-Feb
21-Feb 24-Feb 26-Feb 26-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 24-Feb 1-Mar
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Pak Tobacco Eye Television Media Times Ltd XR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 54.1 3.12 98 1.14 175.58 113 19.27 17.5 2.74 43.28 3.02 24.18
High 54 3.19 98 1.15 177.8 114 20.27 18.49 2.77 42.99 3.13 24.5
Low Close 54 3.02 93.3 0.9 166.81 108 18.75 16.62 2.5 41.2 2.95 22.98
54 3.08 94.42 0.9 166.92 111.92 18.98 18.35 2.5 41.8 3.1 23.02
Change -0.1 -0.04 -3.58 -0.24 -8.66 -1.08 -0.29 0.85 -0.24 -1.48 0.08 -1.16
Vol 3043 600926 57467 6000 12268 6013 12438 2095 1182379 2336 1563644 1306259
7
Saturday, February 12, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,094.87 Turnover 2,610,605 P/E (x) 5.74 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,107.69 1,051.96 Total cos Defaulter cos P/BV (x) ROE (%) 0.74 12.84
PE
Open
High
Low
Close Chg
78 4.85 37740 11.97 3000 0.61 8606 6175 -
78.50 18.52 2.15 2.62 3.60
78.50 18.72 2.18 2.69 3.68
78.49 17.80 2.01 2.51 3.36
78.50 17.95 2.06 2.57 3.40
0.00 -0.57 -0.09 -0.05 -0.20
Close 1,062.26 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 251 1765829 276576 567949 486519
Change -32.61 Market cap 73,287.89 mn Div Yield (%) 10.91
% Change -2.98 5-Day High 1,114.61 5-Day Low 1,062.26
Last 60 days High Low
2010 Div BR (%) (%)
82.99 20.65 2.67 3.45 4.65
80 17.5 1 -
76.50 17.80 2.01 2.51 3.36
2011 Div BR (%) (%)
-
-
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Shaheen Insurance XR Silver Star Insurance United Insurance XB Universal Insurance
204 6.27 369 5.98 279 7.67 457 5.99 1250 400 3.10 718 8.32 791 15.85 3000 42.87 350 303 5.99 252 4.23 200 253 4.17 400 2.30 263 -
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric
PE
198 11572 1560 7932 1695 126 8803 3673 3541 191 1367
6.80 9.84 2.74 5.04 3.55 2.45 3.27 -
Open
High
0.76 37.83 1.60 2.79 17.83 4.15 42.33 16.22 17.28 18.00 2.03
0.80 38.24 1.70 2.85 18.70 4.65 42.50 16.45 17.60 18.40 2.08
Low 0.65 36.70 1.51 2.65 17.70 4.10 41.11 15.98 16.50 17.51 1.90
Close Chg 0.66 37.11 1.57 2.70 17.71 4.50 41.49 16.20 16.79 17.52 2.01
-0.10 -0.72 -0.03 -0.09 -0.12 0.35 -0.84 -0.02 -0.49 -0.48 -0.02
Close 1,282.44 Listed cap 95,369.29 mn Payout (%) 104.13
Volume 54602 2681735 176345 484042 609 502 310308 991833 5766814 17056 273213
Change -24.44 Market cap 105,326.96 mn Div Yield (%) 7.52
Last 60 days High Low 1.18 41.20 2.15 3.55 22.85 5.39 45.85 18.01 18.70 19.35 2.80
0.65 34.16 1.50 2.15 17.25 3.85 39.00 13.32 14.25 16.50 1.90
% Change -1.87 5-Day High 1,350.84 5-Day Low 1,282.44
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
Open 728.76 Turnover 17,680 P/E (x) 5.41
Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 8390
7.31 3.89
Open
High Low 1,680.69 1,581.49 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 11.41
High
25.55 26.47
25.83 27.20
Low 24.30 25.60
Close Chg 24.56 -0.99 25.85 -0.62
Close 1,597.66 Listed cap 12,202.80 mn Payout (%) 66.79
Volume 293182 3963643
Change -51.17 Market cap 35,173.35 mn Div Yield (%) 6.50
Last 60 days High Low 33.40 27.90
24.30 19.95
% Change -3.10 5-Day High 1,700.89 5-Day Low 1,597.66
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,133.53 Turnover 10,990,616 P/E (x) 8.00 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.49 70.84 Askari Bank 6427 7.61 16.49 Bank Alfalah 13492 13.82 11.13 Bank AL-Habib 7322 7.70 35.98 Bank Of Khyber 5004 5.47 4.16 Bank Of Punjab 5288 8.31 BankIslami Pak 5280 925.00 3.68 Faysal Bank 7327 4.43 14.11 Habib Bank Ltd 10019 7.63 123.13 Habib Metropolitan Bank 8732 7.65 25.46 JS Bank Ltd 8150 2.62 KASB Bank Ltd 9509 1.61 MCB Bank Ltd 7602 9.35 214.88 Meezan Bank 6983 9.60 18.83 Mybank Ltd 5304 2.60 National Bank 13455 6.47 75.71 NIB Bank 40437 2.72 Samba Bank 14335 1.86 Silkbank Ltd 26716 2.47 Soneri Bank 6023 6.81 Stand Chart Bank 38716 10.94 7.31 Summit Bank Ltd XR 7251 3.59 United Bank Ltd 12242 7.49 64.64
High
High Low Close 1,143.89 1,097.53 1,106.15 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.12 13.94 40.49 Low
Close Chg
71.79 68.50 68.79 -2.05 16.83 15.90 15.98 -0.51 11.29 10.70 10.78 -0.35 36.15 35.50 35.73 -0.25 4.31 4.09 4.10 -0.06 8.40 7.95 8.05 -0.26 3.79 3.65 3.70 0.02 14.50 13.50 13.74 -0.37 123.75 121.70 122.15 -0.98 25.69 24.90 25.00 -0.46 2.85 2.56 2.64 0.02 1.69 1.60 1.61 0.00 216.18 206.50 207.65 -7.23 18.80 18.15 18.15 -0.68 2.92 2.55 2.55 -0.05 76.10 73.61 74.13 -1.58 2.77 2.60 2.62 -0.10 1.89 1.75 1.81 -0.05 2.52 2.39 2.43 -0.04 6.99 6.62 6.70 -0.11 7.32 7.02 7.11 -0.20 3.73 3.35 3.46 -0.13 65.27 62.50 63.78 -0.86
Volume
Change -27.38 Market cap 674,688.62 mn Div Yield (%) 5.06
Last 60 days High Low
206014 74.00 513630 19.25 899495 11.99 90290 39.49 30017 4.70 2493120 10.59 50461 4.50 95158 17.05 112463 128.97 10903 29.28 776848 2.95 176107 2.80 1069551 250.48 61402 20.30 139903 3.40 2157808 80.61 550750 3.35 89191 2.17 1042250 3.05 17637 8.48 13514 9.04 128819 4.63 394104 70.65
57.15 15.55 9.50 32.75 3.62 7.95 3.00 13.50 102.55 20.66 2.30 1.49 199.00 14.80 1.90 65.26 2.60 1.70 2.39 6.62 7.00 2.74 57.51
% Change -2.42 5-Day High 1,175.27 5-Day Low 1,106.15
2010 Div BR (%) (%)
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 773.02 Turnover 991,719 P/E (x) 12.57 Paid up Cap(mn)
Company Adamjee Insurance
High Low 783.60 747.74 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20
Close 758.48 Listed cap 11,111.34 mn Payout (%) 79.54
Change -14.54 Market cap 47,248.90 mn Div Yield (%) 6.33
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 24.48
88.75
89.45
84.32
84.45 -4.30
457395
96.40
78.53
% Change -1.88 5-Day High 799.80 5-Day Low 758.48
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
0.09 0.48 -2.99 -0.53 -0.27 -0.20 4.61 0.81 -0.63 -0.01 -0.02 0.29 -0.99 -0.10 0.00 -0.10
2366 6226 1549 24959 18434 2000 54204 2065 394524 1000 5500 11486 1002 6005 2000 1003
12.75 40.00 83.00 11.99 47.90 15.50 99.88 61.80 19.40 10.75 12.93 7.10 14.50 8.20 7.80 4.00
10.00 34.00 56.01 9.50 37.50 11.01 81.10 55.10 15.49 6.00 9.60 6.40 10.05 6.01 5.00 1.68
10 30 -
25R 10B 55B -
-
UPTO 100 VOLUME
25R -
PE
Open
High Low 741.89 721.57 Total cos Defaulter cos P/BV (x) ROE (%) 3.21 3.85
Symbols
High
Low
Close Chg
2010 Div BR (%) (%)
2011 Div BR (%) (%)
500
5.55
16.50
16.60
16.60
16.60 0.10
1000
19.85
16.03
-
-
-
-
850 34.15
60.30
61.00
58.50
60.10 -0.20
16678
86.95
58.50
-
-
-
-
Change
Vol
3.00
3.00
-0.10
100
33.30
33.30
33.30
1.40
100
SNAI
42.89
41.25
41.25
41.25
-1.64
100
2.00
0.40
86
GLPL
55.51
55.99
55.99
55.99
0.48
84
HINO
128.00
1.60
129.75
2.00
121.80
1.46
128.00
0.00
STPL
9.30
9.39
8.93
9.00
-0.30
62
CHAS
9.65
9.65
9.65
9.65
0.00
60
IDYM
292.14
302.00
283.90
300.00
7.86
55
RMPL
2890.30
2899.95
2746.00
2873.23
-17.07
SIEM
1069.89
1095.90
1035.99
1095.90
26.01
53
PNGRS
3.80
4.47
4.00
4.47
0.67
51
SEARL
60.10
60.99
60.00
60.00
-0.10
51
78
54
121.54
127.61
127.61
127.61
6.07
3410.15
3580.00
3351.01
3351.10
-59.05
43
SRSM
3.65
4.13
3.44
4.04
0.39
38
BAPL
7.80
8.40
8.35
8.40
0.60
29
CJPL
1.03
1.16
0.53
0.99
-0.04
ZTL
3.41
4.09
2.60
2.60
-0.81
22
KOSM
1.00
1.47
1.25
1.25
0.25
21
RCML
41.02
42.50
42.00
42.00
0.98
21
AGSML
5.50
6.50
5.51
5.51
0.01
20
SANE
5.00
5.75
4.00
4.88
-0.12
20
SAIF
5.97
6.14
6.00
6.04
0.07
18
HUSI
6.23
7.00
5.95
6.39
0.16
17
0.60
15
1.31
1.84
0.65
1.49
0.18
13
FINANCIAL SERVICES
1340.33
1340.00
1340.32
63.81
13
ICIBL
0.60
0.62
0.58
0.58
-0.02
Performance of SR Financial Services Index
TSMF
1.34
1.29
1.29
1.29
-0.05
10
TSPL
0.93
1.00
1.00
1.00
0.07
10
CSM
0.62
0.74
0.53
0.66
0.04
8
PE
225 1.39 360 4.49 450 12.14 3750 4.41 150 1.43 250 575 2121 10.73 600 769.00 3166 626 0.61 7633 508 500 6.92 1000 26.63 1000 821 4.54 775 363 978 4.79 100 586 2.00
Open 0.63 21.83 25.00 24.95 1.41 1.75 4.81 2.48 7.48 3.24 1.79 10.98 3.65 26.25 6.70 4.62 6.25 1.90 1.50 2.65 3.90 1.91
High 0.67 22.92 25.15 25.25 1.70 2.04 5.78 2.59 7.69 3.50 1.83 11.18 3.85 26.49 6.83 4.87 6.45 1.96 1.50 2.70 4.40 1.28
Low 0.55 21.40 23.75 23.71 1.21 1.62 4.10 2.35 7.25 3.13 1.70 10.05 3.20 25.45 6.32 4.50 5.91 1.81 1.50 2.30 3.75 1.27
Close Chg 0.61 22.79 23.79 24.00 1.60 1.86 5.76 2.36 7.69 3.26 1.70 10.39 3.60 25.76 6.39 4.51 6.18 1.86 1.50 2.30 3.89 1.28
-0.02 0.96 -1.21 -0.95 0.19 0.11 0.95 -0.12 0.21 0.02 -0.09 -0.59 -0.05 -0.49 -0.31 -0.11 -0.07 -0.04 0.00 -0.35 -0.01 -0.63
Close 381.69 Listed cap 30,336.44 mn Payout (%) 99.56
Change -14.23 Market cap 17,890.74 mn Div Yield (%) 3.64
Last 60 days High Low
Volume 12526 148937 56432 2682220 761 9006 206 1307 8045 50866 2002 4430675 175741 3282 128745 99794 4632 22593 186 20010 42840 137
0.95 22.92 28.00 30.20 2.14 2.75 10.50 3.90 8.98 3.95 2.14 14.05 4.60 32.00 7.59 5.43 7.29 2.50 2.95 3.00 4.40 2.70
0.33 16.80 23.75 23.35 1.15 1.28 4.10 2.26 6.22 2.95 1.05 10.05 3.20 25.00 6.20 3.80 5.70 1.81 1.01 2.21 1.42 1.24
% Change -3.59 5-Day High 411.21 5-Day Low 381.69
2010 Div BR (%) (%) 30 11.5 10 -
2011 Div BR (%) (%)
20B 20B 10B -
-
1.35
1.55
1.95
12
FIBLM
1.57
2.44
1.50
1.62
0.05
8
FZCM
54.28
56.95
51.60
52.49
-1.79
6
IDSM
8.15
9.15
7.15
8.10
-0.05
6
KSBP
61.90
61.78
59.50
60.60
-1.30
6
DWAE
1.20
1.37
1.04
1.04
-0.16
4
DATM
-
2.00
29
1276.51
High Low 406.05 368.82 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 0.91
CWSM
50
UPFL
Paid up Cap(mn)
0.39
3
FRCL
2.00
2.95
1.80
2.93
0.93
3
PECO
136.13
0.45
141.48
0.84
138.00
0.80
138.00
0.84
1.87
3
PTEC
2.00
2.68
2.00
2.68
0.68
3
COLG
900.00
945.00
900.00
900.00
0.00
2
DIIL
10.88
10.11
10.02
10.11
-0.77
2
ELSM
21.85
22.45
22.45
22.45
0.60
2
JOPP
12.00
13.00
12.00
12.50
0.50
2
LAKST
250.51
262.99
240.01
240.01
-10.50
2
PMRS
41.85
43.94
41.00
43.94
2.09
2
AASM
25.80
24.52
24.52
24.52
-1.28
BCL
44.30
46.15
46.15
46.15
1.85
1
BROT
0.52
0.89
0.89
0.89
0.37
1
BWHL
33.90
35.59
35.59
35.59
1.69
1
CSIL
4.09
4.43
4.30
4.30
0.21
1
ESBL
2.39
2.70
2.39
2.39
0.00
1
1.61
EWLA
2.11
1.61
1.61
1
-0.50
1
FTSM
1.23
1.45
1.45
1.45
0.22
1
GATI
46.98
49.00
49.00
49.00
2.02
1
GRYL
2.21
2.10
2.10
2.10
-0.11
1
HMIM
0.85
0.95
0.95
0.95
0.10
1
KOHS
3.82
3.21
3.21
3.21
-0.61
1
LPGL
11.06
10.15
10.15
10.15
-0.91
1
MFFL
75.91
72.12
72.12
72.12
-3.79
1
MIRKS
49.00
50.49
50.49
50.49
1.49
1
EQUITY INVESTMENT INSTRUMENTS
NJLIC
40.00
42.00
41.90
41.90
1.90
1
Performance of SR Equity Investment Instruments Index
TICL
Open 1,521.37 Turnover 9,830,219 P/E (x) 20.34 Paid up Cap(mn)
Company
Close
3.00
31.90
ICCT
Open 395.92 Turnover 5,218,737 P/E (x) 11.66
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities First National Equity IGI Investment Bank Invest and Fin Sec Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Security Leasing Stand Chart Leasing Trust Brokerage Trust Inv Bank
Low
3.10
SHFA FFLM
% Change 0.76 5-Day High 760.51 5-Day Low 728.76
High
FANM
NESTLE
Change 5.52 Market cap 8,646.71 mn Div Yield (%) 4.27
Last 60 days High Low
Volume
Open
ILTM
Close 734.27 Listed cap 2,290.72 mn Payout (%) 355.53
American Life
2011 Div BR (%) (%)
40 10B - 20B - 66R 85 10B -63.46R 10 -
10.34 37.59 67.51 9.58 38.65 13.00 96.81 58.81 16.72 8.99 11.08 6.90 10.41 6.71 7.00 2.70
EFU Life Assurance
Company
Performance of SR Gas Water and Multiutilities Index Open 1,648.83 Turnover 4,256,825 P/E (x) 10.28
Paid up Cap(mn)
Company
-
GAS WATER AND MULTIUTILITIES
10.34 36.51 67.50 9.50 37.50 13.00 92.50 57.55 16.50 8.99 11.00 6.83 10.41 6.66 7.00 2.62
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,322.34 1,268.04 Total cos Defaulter cos P/BV (x) ROE (%) 1.29 9.35
10.50 37.88 67.51 10.78 39.50 13.00 96.81 58.98 17.65 8.99 11.08 7.00 11.00 7.13 7.00 3.00
LIFE INSURANCE
ELECTRICITY Open 1,306.88 Turnover 10,757,069 P/E (x) 13.84
10.25 37.11 70.50 10.11 38.92 13.20 92.20 58.00 17.35 9.00 11.10 6.61 11.40 6.81 7.00 2.80
AL-Meezan Mutual F. Atlas Fund of Funds B F Modaraba B R R Guardian Mod. Constellation Modaraba Elite Cap Modaraba Equity Modaraba First Capital Mutual F. First Dawood Mutual F. Golden Arrow Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali NAMCO Balanced Fund Pak Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba Trust Modaraba U D L Modaraba
PE
1375 8.93 525 2.38 75 2.19 780 3.27 65 3.36 113 3.13 524 12.50 300 9.93 581 0.71 760 2.37 1008 6.12 3180 72.50 1186 1.33 283 1.47 1200 2.72 184 13.10 1000 6.25 125 4.60 1000 3.36 2835 4.39 2841 3.72 872 2.27 340 454 4.75 298 2.88 264 1.77
Open 11.10 5.98 3.33 1.41 1.21 2.55 1.82 4.19 2.30 3.49 7.15 6.00 6.27 2.95 9.37 1.64 4.13 1.07 8.33 15.49 7.69 1.00 1.30 9.75 2.00 6.30
High Low 1,574.28 1,437.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 2.21
High 11.23 6.40 3.33 1.45 1.99 2.95 2.38 3.98 2.47 3.69 7.10 6.15 6.49 2.81 9.83 1.76 4.00 1.49 8.83 16.49 7.95 1.10 1.98 10.15 1.50 6.25
Low 10.60 5.34 3.33 1.41 1.21 2.25 1.95 3.97 2.17 3.25 7.05 5.75 5.49 2.00 9.20 1.31 4.00 0.92 7.50 14.49 6.69 0.90 1.02 9.70 1.50 6.20
Close Chg 10.72 5.90 3.33 1.44 1.48 2.50 2.00 3.97 2.25 3.32 7.10 5.80 5.53 2.00 9.47 1.31 4.00 0.92 8.12 14.66 6.84 1.00 1.47 9.70 1.50 6.22
-0.38 -0.08 0.00 0.03 0.27 -0.05 0.18 -0.22 -0.05 -0.17 -0.05 -0.20 -0.74 -0.95 0.10 -0.33 -0.13 -0.15 -0.21 -0.83 -0.85 0.00 0.17 -0.05 -0.50 -0.08
Close 1,466.95 Listed cap 29,771.58 mn Payout (%) 104.74
Change -54.42 Market cap 19,759.21 mn Div Yield (%) 8.00
Last 60 days High Low
Volume 558192 22006 20465 12372 119 3002 13500 6000 16592 171174 6600 469133 482602 5001 1299273 2510 1000 4551 2519591 2819984 1342481 26251 10002 13105 3500 1000
11.50 6.40 4.00 2.79 1.99 3.49 2.98 5.44 2.57 3.89 7.30 6.17 6.61 3.50 10.24 2.50 4.73 2.00 8.83 16.49 7.95 1.20 2.54 10.29 2.30 6.55
PICTPS
6.20 3.51 2.89 1.30 1.00 2.10 1.15 2.55 1.61 2.67 6.20 3.20 3.10 1.26 5.18 0.92 2.92 0.46 5.31 8.82 4.27 0.81 0.50 8.51 1.16 5.30
% Change -3.58 5-Day High 1,521.37 5-Day Low 1,404.52
2010 Div BR (%) (%) 18.5 2.2 0 5 17 21 5 10 2.8 15.5 15 3 10 20 10 3 1 17 5 12.5
YOUW
7.06
7.06
7.06
-0.99
1
56.50
56.50
56.50
-2.77
1
1.49
1.45
1.45
1.45
-0.04
1
FUTURE CONTRACTS
2011 Div BR (%) (%)
10B - 10.00 - 12.50 - 7.50 -
8.05 59.27
Symbols
Open
ANL-FEB
10.96
11.15
10.10
10.38
-0.58
719500
DGKC-FEB
28.45
28.80
27.03
27.09
-1.36
707000
Low
Close
Change
Vol
-0.42
587000
FFBL-FEB
41.45
41.86
40.81
41.03
POL-FEB
320.69
321.50
310.75
312.38
-8.31
ENGRO-FEB 214.68
216.00
209.20
211.24
-3.44
440500
65.80
62.80
64.00
-1.35
413500
NML-FEB
-
High
65.35
468000
NBP-FEB
76.07
76.40
74.05
74.51
-1.56
325000
MCB-FEB
216.68
217.00
207.75
208.81
-7.87
275000
PSO-FEB
281.64
283.20
271.00
274.74
-6.90
267000
FFC-FEBB
119.93
121.22
117.60
118.34
-1.59
260000
POL-FEBB
312.81
313.49
302.00
304.31
-8.50
239500
FFC-FEB
151.15
152.80
148.80
149.45
-1.70
238000
NETSOL-FEB 24.26
23.07
-1.19
165000
69.65
69.30
66.60
67.85
-1.80
144500
PPL-FEB
210.99
212.25
203.15
205.55
-5.44
100000
PTC-FEB
18.75
18.50
18.00
18.03
-0.72
95000
NCL-FEB
25.56
26.21
25.25
25.43
-0.13
84000
OGDC-FEB
169.45
169.30
165.90
166.08
-3.37
67500
AICL-FEB
89.11
89.50
84.66
84.89
-4.22
64000
BOP-FEB
8.38
8.45
8.00
8.06
-0.32
50500
UBL-FEB
64.84
66.00
63.00
63.75
-1.09
20000
HUBC-FEB
38.00
38.00
38.00
38.00
0.00
9000
AICL-CAPR
91.98
0.00
0.00
87.50
-4.48
0.00
AICL-CFEB
89.34
0.00
0.00
84.97
-4.37
AICL-CFEBW288.75
0.00
0.00
84.41
-4.34
0.00
AICL-CMAR
90.51
0.00
0.00
86.10
-4.41
0.00
Symbols
Open
LUCK-FEB
24.30
23.05
0.00
ZERO VOLUME High
Low
Close
Change
Vol
GVGL
23.40
23.50
23.50
23.50
0.10
0.00
NAGC
16.45
16.24
16.24
16.24
-0.21
0.00
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
35.53
Support 1
11,842.05
MA (5-day)
12,243.68
Support 2
11,740.75
MA (10-day)
12,286.79
Resistance 1
12,140.80
11,315.57
Resistance 2
12,338.25
MA (100-day)
Fair Value
*Invest Cap
Rs Recommendations
39
10,617.04
Pivot
Brokerage House
Fair Value
*Invest Cap
145
Neutral
AKD Securities Ltd
139.5
Neutral
TFD Research
45.52
Accumulate
AKD Securities Ltd
TFD Research
44.25
Neutral
TFD Research
Technical Outlook
Brokerage House
Buy
*Invest Cap
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
58.56 150.64 120.88 114.23
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
77
Buy
71.45
373.19 55,694.86 37.25 150.48
78.6
Positive
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
* Target price for Jun-11 & **Net Open Interest in future market
and Bollinger Bands were 13 per cent narrower than normal.
FFC is currently 30.4 per cent above its 200-day moving average and is NML is currently 20.9 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of FFC at a relatively equal pace. Trend reflect volume flowing into and out of NML at a relatively equal pace. Trend forecasting oscillators are currently bullish on FFC.
forecasting oscillators are currently bearish on NML.
Pakistan Oilfields Ltd
National Bank of Pakistan
Brokerage House
Brokerage House
Fair Value
Rs Recommendations
36
Buy
*Invest Cap
52.4
Sell
*Invest Cap
Fair Value
Rs Recommendations
360
Hold
AKD Securities Ltd
42.1
Accumulate
AKD Securities Ltd
38.14
Buy
AKD Securities Ltd
75.5
Neutral
AKD Securities Ltd
322.42
Neutral
TFD Research
50.3
Positive
TFD Research
36.55
Positive
TFD Research
92.3
Positive
TFD Research
381.35
Positive
Technical Outlook
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
41.18 38.56 35.95 35.05
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
810.01 30,059.40 1.13 37.47
* 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)
30.05 29.05 28.30 26.81
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
200.80 5,421.72 35.78 27.71
* Target price for Jun-11 & **Net Open Interest in future market
175.80 11,235.37 70.55 64.36
FFC closed down -1.96 at 149.24. Volume was 86 per cent above average NML closed down -1.14 at 63.91. Volume was 39 per cent below average and Bollinger Bands were 38 per cent narrower than normal.
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
38.35 76.89 69.98 68.36
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.50 23,610.25 124.63 74.89
* 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)
39.52 327.44 277.53 251.40
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
107.94 33,710.59 151.62 316.28
* Target price for Jun-11 & **Net Open Interest in future market
HUBC closed down -0.72 at 37.11. Volume was 47 per cent above aver- DGKC closed down -1.33 at 27.00. Volume was 48 per cent below aver- NBP closed down -1.58 at 74.13. Volume was 50 per cent below average POL closed down -8.27 at 312.30. Volume was 7 per cent below average age and Bollinger Bands were 27 per cent wider than normal.
age and Bollinger Bands were 2 per cent wider than normal.
(consolidating) and Bollinger Bands were 32 per cent narrower than normal. and Bollinger Bands were 34 per cent narrower than normal.
HUBC is currently 5.8 per cent above its 200-day moving average and is DGKC is currently 0.8 per cent above its 200-day moving average and is NBP is currently 8.4 per cent above its 200-day moving average and is dis- POL is currently 24.1 per cent above its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is normal as compared to the aver- playing a downward trend. Volatility is relatively normal as compared to the displaying a downward trend. Volatility is relatively normal as compared to volatility over the last 10 trading sessions. Volume indicators reflect mod- age volatility over the last 10 trading sessions. Volume indicators reflect average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators erate flows of volume out of HUBC (mildly bearish). Trend forecasting volume flowing into and out of DGKC at a relatively equal pace. Trend fore- reflect volume flowing into and out of NBP at a relatively equal pace. Trend reflect moderate flows of volume out of POL (mildly bearish). Trend foreoscillators are currently bearish on HUBC.
casting oscillators are currently bearish on DGKC.
forecasting oscillators are currently bearish on NBP.
Time
12-Feb 12-Feb 12-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 14-Feb 15-Feb 15-Feb 15-Feb 15-Feb 15-Feb 16-Feb 16-Feb 17-Feb
9:30 11:00 11:30 3:00 11:30 9:30 10:00 11:00 11:30 2:30 9:30 10:30 10:30 12:00 10:30 10:30 11:00 12:30 9:30 2:30
casting oscillators are currently bearish on POL.
TECHNICAL LEVELS Company
Leverage Position
42.08 65.95 58.05 52.83
Date
Pakistan PVC Limited Tri-Pack Films Ltd First Prudential Modaraba Al-Ghazi Tractors Limited Rafhan Maize Products Com Ltd Nestle Pakistan Limited Central Forest Products Ltd Sitara Chemical Industries Ltd Pakistan Paper Products Ltd UniLever Pakistan Limited Engro Corporation Limited Pakistan Refinery Ltd Otsuka Pakistan Limited Kohinoor Energy Limited JS Investments Limited JS Growth Fund Goodluck Industries Ltd Kot Addu Power Company Ltd ICI Pakistan Limited UniLever Pakistan Foods Ltd
Accumulate
Technical Outlook
Technical Outlook
Leverage Position
Fair Value
Brokerage House
Hold
Dera Ghazi Khan Cement Co Ltd
Rs Recommendations
47
Rs Recommendations
149
AKD Securities Ltd
Technical Analysis
Fair Value
*Invest Cap
12,039.50
Hub Power Co Ltd
*Invest Cap
Brokerage House
Hold
RSI (14-day) 54.97 Free Float Shares (mn) 326.94 MA (10-day) 41.14 Free Float Rs (mn) 13,355.44 KSE 100 INDEX closed down -244.13 points at 11,943.34. Volume MA (100-day) 34.34 ** NOI Rs (mn) 78.36 was 23 per cent below average and Bollinger Bands were 17 per MA (200-day) 31.25 Mean 41.07 cent narrower than normal. As far as resistance level is concern, the * Target price for Jun-11 & **Net Open Interest in future market market will see major 1st resistance level at 12,140.80 and 2nd FFBL closed down -0.36 at 40.85. Volume was 0.01 per cent above averresistance level at 12,338.25, while Index will continue to find its 1st age and Bollinger Bands were 44 per cent narrower than normal. support level at 11,842.05 and 2nd support level at 11,740.75. KSE 100 INDEX is currently 12.5 per cent above its 200-day moving FFBL is currently 30.6 per cent above its 200-day moving average and is average and is displaying a downward trend. Volatility is high as displaying an upward trend. Volatility is extremely low when compared to compared to the average volatility over the last 10 trading sessions. the average volatility over the last 10 trading sessions. Volume indicators Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently reflect volume flowing into and out of FFBL at a relatively equal pace. Trend forecasting oscillators are currently bullish on FFBL. bearish on INDEX. MA (200-day)
Nishat Mills Ltd
Fauji Fertiliser Co
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D G K Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J O Vand CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power KESC Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P I A C (A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P S O XD P T C LA Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 36.92 2.75 2.65 43.17 67.60 66.40 10.74 48.90 47.40 37.01 23.40 22.80 30.38 23.30 22.85 35.96 82.70 80.95 31.17 15.65 15.30 42.77 9.90 9.50 46.24 362.55 356.35 32.09 111.55 109.00 39.86 10.55 10.35 43.83 3.65 3.55 29.63 7.85 7.70 41.41 1.75 1.65 30.52 26.40 25.85 49.08 2.80 2.65 31.68 2.30 2.25 36.44 37.60 36.55 21.42 58.75 57.35 49.25 206.95 203.80 34.30 13.30 12.90 30.37 4.40 4.30 55.21 40.35 39.80 59.36 147.60 145.95 47.32 121.30 120.50 41.46 36.45 35.80 47.57 144.15 142.55 57.52 288.15 287.35 40.22 3.25 2.90 42.10 1.50 1.40 57.86 2.50 2.40 44.21 9.90 9.40 39.27 40.90 40.30 44.00 2.60 2.55 57.60 15.65 15.40 30.82 66.00 64.35 29.74 204.05 200.45 35.63 2.50 2.40 38.81 73.10 72.10 62.44 24.85 24.25 45.26 22.50 22.00 33.85 2.55 2.50 59.49 2.35 2.15 42.36 62.35 60.80 34.81 164.40 161.95 53.17 3.00 2.90 39.91 1.80 1.75 51.13 2.40 2.30 34.36 6.00 5.75 40.03 307.95 303.60 36.01 201.20 197.40 31.95 61.55 60.35 30.50 266.85 260.20 29.64 17.60 17.25 44.25 203.85 200.40 28.87 23.95 23.35 52.52 13.30 13.05 66.47 25.25 24.60 40.64 2.00 1.90 38.19 3.00 2.95 36.67 62.45 61.10 39.95 2.50 2.40
1st 2nd Resistance 3.00 3.20 70.90 73.00 52.15 53.90 24.95 25.85 24.70 25.65 87.80 91.20 16.60 17.15 10.90 11.55 377.50 386.20 118.20 122.35 11.15 11.50 3.75 3.85 8.30 8.60 2.10 2.30 28.10 29.20 3.20 3.40 2.45 2.55 39.60 40.55 61.25 62.35 214.35 218.60 14.30 14.90 4.60 4.75 41.55 42.20 151.90 154.50 123.35 124.60 38.00 38.90 148.25 150.75 289.90 290.85 3.90 4.20 1.65 1.80 2.80 2.95 11.05 11.65 42.30 43.10 2.80 2.95 16.35 16.70 69.30 70.95 213.70 219.80 2.65 2.75 75.60 77.10 26.20 27.00 24.00 25.00 2.70 2.85 2.75 3.00 65.70 67.45 169.90 172.95 3.15 3.25 1.95 2.05 2.70 2.85 6.60 6.95 319.20 326.10 210.10 215.15 64.95 67.10 281.25 289.05 18.50 19.10 212.85 218.40 25.50 26.45 14.00 14.45 26.85 27.80 2.15 2.25 3.20 3.25 65.20 66.60 2.65 2.75
Pivot 2.90 69.70 50.65 24.30 24.25 86.05 16.25 10.50 371.30 115.70 10.90 3.70 8.15 2.00 27.50 3.05 2.40 38.55 59.85 211.20 13.90 4.55 41.00 150.25 122.55 37.35 146.65 289.10 3.55 1.60 2.70 10.55 41.70 2.75 16.05 67.65 210.10 2.60 74.60 25.60 23.50 2.65 2.60 64.15 167.45 3.05 1.90 2.60 6.35 314.85 206.30 63.75 274.65 18.15 209.40 24.90 13.75 26.20 2.10 3.10 63.85 2.60
8
Saturday, February 12, 2011
Arnold returns to movies
A
rnold Schwarzenegger is changing his famous catch-phrase to "I'm back" from "I'll be back." The former governor of California said on Thursday that he was returning to his former role as a Hollywood action hero. "Exciting news," he wrote on
MUMBAI: Indian actress Priyanka Chopra and Shah Rukh Khan appear on the set of 'Zor Ka Jhatka' to promote the forthcoming Hindi film '7 Khoon Maaf' in Mumbai.
Bollywood star launches online dance talent contest
P
opular Bollywood star Katrina Kaif launched an online dance talent contest "Next Stop Bollywood" in New Delhi. Former model Kaif has featured in some of Bollywood's most glamorous chart topping dance numbers, including the current hit "Shiela ki Jawani" from her latest movie "Tess Maar Khan." "Even when I watched 'Sheila ki jawani' for the first time, the first thing that I did to Farah (director Farah Khan) was to point five things that I felt that I should have done better. So, I don't think that I am ever satisfied with anything I do, I always...I learn from every experience I try to learn from every experience, every type of dance, every song that I get...try to do something new and try to see where I can do better. So, I don't
know if I will consider myself a great dancer but I definitely love dancing," she told reporters. Kaif said that she was looking forward to connecting with her fans and aspiring dancers through the competition. The online contest will be run through a Facebook application where the contestants can upload and share their dance videos for public voting. Videos with the most votes will make a shortlist of ten. Kaif will then announce the three top finalists and the winner. The star made headlines recently when she was investigated by tax authorities in connection with alleged tax evasion. On 24 January, tax officials raided the homes and offices of Kaif and another top Bollywood actor, Priyanka Chopra.
"I think that the IT (Income tax) department is only doing their job and I have the highest regard for them and I don't know if you saw today in the Times Of India (newspaper) the article has come kind of stating I have been given a clean chit so to speak. So I think it's OK, I think it's fine, everyone is just doing their job and I mean there is no...I am kind of very calm about the whole thing," she said. Kaif started her movie career with London-based filmmaker Kaizad Gustad's film "Boom." Among her successful movies since are "Namastey London," "Race," "New York," "Ajab Prem Ki Ghazab Kahani" and the recent "Tees Maar Khan." Kaif is the brand ambassador for Etihad Airways, the national carrier of the UAE, who are behind the online venture
Twitter. "My friends at CAA (Creative Artists Agency, his talent firm) have been asking me for 7 years when they can take offers seriously. Gave them the green light today." The 63-year-old actor's two terms as governor of America's most populous state ended last month, leading to much speculation as to whether he would upgrade to national political office or return to the silver screen. In between failed efforts to plug a state deficit now pegged at about $25 billion, Schwarzenegger took time to make a few movie cameos, most recently as a mercenary leader in pal Sylvester Stallone's hit action thriller "The Expendables." His movie career had been on the wane before he announced a surprise bid for the governorship in 2003, running as a moderate Republican.
Berlin film festival opens with True Grit
Celebrities warm up the crowd for NY Fashion week
A
catwalk of celebrities kicked off New York Fashion Week on Wednesday night, getting the audience all pumped up for the Red Dress runway show, which draws attention to a national awareness campaign about women and heart disease. Denise Richards did the '70s look in a halter-top, empirewaist dress by Matthew Williamson, while '70s pinup Suzanne Somers went for a flared minidress with a jeweled waist by Ina Soltani. Matthew McConaughey cheered on girlfriend Camila Alves in her sexy, tiny-strap asymmetrical gown by KaufmanFranco, snapping photos the whole show through, and Susan Sarandon let her daughter, Eva Amurri, soak up the spotlight in her high-neck lace dress by Chris Benz. Sarandon, dressed in an unassuming pink polo shirt and hair pulled back, quietly took her front-row seat just a few minutes before the show began. No one strutted quite like actress Taraji P. Henson, in a Naeem Khan-designed beaded dress with a high slit, who milked her moment with the crowd, singing Michael Jackson's "The Way You Make Me Feel." OK, maybe Dita von Teese, wearing a Zac Posen number that emphasized her
hourglass shape, one-upped her in the hip-swinging department. Pop singer Natasha Bedingfield performed at the end of her turn, but one could have forgotten her day job as she wore a deep V halter dress by Nicole Miller. Patti LaBelle hammed it up in her kimono-style dress by Zang Toi, and Linda Gray wore a Pamella Roland off-theshoulder gown. Katrina Bowden went short in a flounce-front Oscar de la Renta. Julianne Hough's red Swarovski dress played into the heart-health theme with its sweetheart neckline and her necklace with crystals shaped into hearts. By fashion standards, Alberta Ferretti's eyelash pleat dress on TV personality Cat Deeley and Monique Lhuillier's rose-covered ballgown, modeled by Garcelle Beauvais, were standouts. The Red Dress show has become an annual event in February at Mercedes-Benz Fashion Week, which officially kicks off Thursday for eight days of previews for the fall season. Some designers are further supporting the national heart disease campaign, sponsored by The National Heart, Lung and Blood Institute, by auctioning dresses through the Clothes Off Our Back website.
Salman issues diktat to Arbaaz
G
oing against Salman's wishes is not an idea worth pursuing. The same lessons are being learnt by none other than Salman Khan's younger brother Arbaaz Khan. According to sources,
watch on any attempts that might end his arch rivalry. He is no mood to let go so soon. Sources further add, "The fact that Salman does not forgive his enemies has become one of his brand features. It is very difficult for him to go
T
he 2011 Berlin film festival opens on Thursday with Oscars darling "True Grit" kicking off the 10-day cinema showcase, where hundreds of movies vie for the attention of the world's media and industry buyers. The Coen brothers' Western remake is already out in North America and so is not eligible for prizes at the closing ceremony on Feb. 19, but it should ensure Hollywood glamour on the red carpet at Berlin's glitzy opening ceremony. The story of a young girl's quest to track down her father's killer, starring Jeff Bridges, Hailee Steinfeld, Matt Damon and Josh Brolin, has garnered 10 Academy Award nominations, second only to "The King's Speech". The 61st Berlin festival boasts its trademark mix of familiar faces and up-andcoming film makers, and, as usual, real world concerns are never far from the surface. The spotlight on Thursday is likely to fall on the absent Jafar Panahi, the Iranian director who was invited to be on the jury but who was sentenced in December to six years in prison. Panahi, whose film "Offside" won the festival's Silver Bear award in 2006, has been banned from making films or travelling abroad for 20 years. "His conviction violates the right to freedom of MUMBAI: Bollywood director Karan Johara attends the book launch of 'The Dialogue of Pyaasa' expression and the freedom -a classic Indian movie directed in 1957 by Guru Dutt- in Mumbai of art," the festival said.
Salman is miffed with Arbaaz for trying to broker peace between him and SRK. The issue has reached a point where Sallu has told Arbaaz in no uncertain terms to avoid playing such a role. In the past Arbaaz has been friendly with SRK despite the fact that SRK and Sallu's chemistry is going through its coldest phase. But, now Salman is keeping a close
against the same since it is something that defines him. His fresh diktat to Arbaaz has to be seen in that light. Look at what he did to Vivek Oberoi. He is trying to repeat it in case of his cold bond with SRK." While Bollywood and its brawls would not stop from taking place, but this one is the baap of all as it involves two biggest stars who happen to be arch rivals.
Now Bebo to dance for Ekta Actress Kareena Kapoor will reportedly perform at the Global Indian Film and Television Honours (GIFTH) to be hosted by Balaji telefilms Saturday. Kareena is close to Ekta Kapoor, creative and managing director of Balaji Television, and her actor brother Tusshar, said a source. "Ekta was of the opinion that the event would be incomplete without Kareena's performance. They are delighted to have her on board, " the source told. In spite of her busy schedule Kareena is rehearsing for her performance at the event.
Deepika to perform in “dum maro dum” 2010 was proved as a year of Malaika Arora’s song “Munni Badnaam hue” and Katrina’s song “Sheela ki jawani” but in
2011, Deepika Padukone’s song “dum maro dum” may hit the record. In the upcoming film “Dum maro dum”, Deepika Padukone will be performing an item song. It will be the first item number of Deepika. Film “dum maro dum” has abhishek and bipasha in the lead role. The song will be a promotional number and Deepika says that her song will be more favourit than Munni and Sheela.
Music album marks Faiz’s 100th birthday A music album of Faiz Ahmad Faiz’s poetry by Tina Sani and Shabana Azmi was launched at a local hotel. Faiz Foundation Trust produced the album for the occasion of the writer’s 100 birthday celebrations. Faiz Foundation Trust Chairperson Salima Hashmi, HRCP Director IA Rahman, Indian actress Lubna Salim and many other foreign artists were present at the launch ceremony. Tina Sani also sang some of Faiz’s poetry at the event, which was highly praised by the audience. The attendees, at the end, were each given a copy of the music album as a souvenir.
Sanjay Dutt to pen his autobiography
NEW DELHI: A model displays a creation by Indian Designer Ashish Viral and Vikrant during the Wills Lifestyle India Fashion Week-Spring Summer 2011.
Bollywood actor Sanjay Dutt is all set to pen down is autobiography. He is presently in search of a writer who can help him to pen it down. Sanjay Dutt is presently shooting in Bangkok for David Dhawan’s upcoming film “Rascals”. Sanjay told “Yes, there was an offer but the terms and conditions didn’t suit me.” “I do want to write my autobiography. But I need to devote time to it and I’m having a busy phase in my career. I will definitely go ahead with it when I find someone to help me write it. I’m sure it will happen soon.”
9
Saturday, February 12, 2011
European vegetable oil prices
DIVO - IVORY COAST: A man picking coffee beans, in a coffee and cocoa plantation, in Divo. -Agencies
Coffee slips off peak, sugar down LONDON: Arabica coffee futures on ICE consolidated lower on Friday, lingering below their highest level in almost 14 years, and ICE cocoa dipped below Thursday's oneyear high, weighed down by a strong dollar. New York's benchmark May arabicas were down 1.85 cents or 0.7 per cent to $2.56 per lb at 1547 GMT after touching $2.58 a lb on Thursday, the highest since May 1997. Liffe May robusta coffee edged down $3 to $2,256 per tonne, below its 2-1/4-year high of $2,287. New York cocoa retreated from a one-year peak on Friday in thin volumes, with political turmoil in top grower Ivory Coast continuing to support prices. ICE cocoa futures for May fell $32 or 1 per cent to $3,341 a tonne at 1548 GMT, below Thursday's peak of $3,431, the highest since Jan. 2010. London's May cocoa contract rose 4 pounds or 0.2 per cent to 2,180 pounds per tonne, below its six-month peak of 2,269 pounds a tonne, supported by a weaker pound. ICE raw sugar futures fell in volatile computer-generated dealings, with volumes modest, with a focus on extreme volatility in sugar markets which is frustrating trade houses seeking to hedge positions. The benchmark ICE March raw sugar contract traded down 0.71 cent or 2.2 per cent to 31.34 cents a lb at 1549 GMT. London's March white sugar fell $21.00 or 2.7 per cent to $764.40 per tonne, with the contract set to expire. -Reuters
Gold retreats after change in Egypt LONDON: Gold retreated towards $1,360 an ounce on Friday from earlier three-week highs as news that Egyptian President Hosni Mubarak had resigned after weeks of protest took some heat out of risk aversion. Mubarak handed over power to the army, ending three decades of autocratic rule, after escalating pressure from the military and protesters. Stock
look. "It has provided gold with a little bit of direction day to day, but we still haven't moved very far since the pull-back at the start of the year," he said. "The Middle East situation has made a difference at the margins, but people still aren't convinced over pushing (gold) one way or the other." Gold fell 6 per cent in January after a run of well-received US data shifted investors' focus
Indian sugar ends steady markets rose on the news, erasing earlier losses, while the dollar retreated from highs. "The geopolitical risk and the incentive to buy gold on the back of that are probably reduced," said Hayden Atkins, an analyst at Macquarie. "Tension will still be simmering, but it won't be as big a news story for people to trade off." Spot gold was bid at $1,362.10 an ounce at 1645 GMT against $1,362.90 late in New York on Thursday, having earlier risen as high as $1,368.16 an ounce. US gold futures for April delivery were down 20 cents to $1,362.30. Atkins said the protests' impact on gold had been largely peripheral as the metal remained trapped between slackening appetite for bullion as interest in other assets like stocks improved, and ongoing uncertainty over the economic out-
onto assets seen as higher risk like stocks, but its slide has been arrested this month. Investment demand for gold remained soft, with holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, easing by nearly a tonne on Thursday. They are down just over 55 tonnes so far this year. In the same period of 2010, they fell around 27 tonnes. Premiums for gold bars were steady in Hong Kong and Singapore, with no signs of buying interest from China. Silver was bid at $30.05 an ounce against $30.19. Holdings in the world's largest silver ETF, the iShares Silver Trust, rose around 18 tonnes to 10,388.45 tonnes on Thursday, their first increase since Jan. 24. Platinum was at $1,829 an ounce against $1,824.75, while palladium was at $816.97 against $820.25. -Reuters
Palm oil perks up on tight supply woes KUALA LUMPUR: Malaysian palm oil futures rose 0.7 per cent on Friday on concerns that earlier floods and rains could further weaken yields at a time of strong demand despite prices logging their weakest weekly gain in two weeks. Traders expect continued tightening in vegetable oil supplies on strong export demand from China and a possible shift in US farming acreage this year to more lucrative corn from soybeans, an oilseed crushed into competing soyoil. "For Malaysia, the stock draw will be more pronounced in February, as China will have to replenish after the Lunar New Year holiday and its a much shorter month for harvesting from oil palms," said a trader with a foreign broker-
age. The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose 29 ringgit to 3,955 ringgit ($1,299). The previous day, the market hit 3,967 ringgit, a level not reached since March 2008. Overall volumes more than doubled to 22,982 lots at 25 tonnes each, compared to the usual 15,000 lots. The supply-demand scenario for palm oil remains bullish. Cargo surveyors reported more than 40 per cent jump in Malaysia's palm oil exports in Feb 1-10 versus the same peri-
od a month ago. The Malaysian Palm Oil Board reported on Tuesday of falling production as floods and rains disrupted deliveries and stalled harvesting, cutting January stocks to a six-month low. The most active September soyoil contract on China's Dalian Commodity Exchange fell 0.5 per cent, with selling pressure coming from the government making plans to offer 100,000 tonnes of rapeseed oil in its regular sale next week. US soyoil for March delivery rose 0.5 per cent in Asian trade. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 10 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1250
January (3rd Wednesday)
1310
1255
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for February 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
2335 2355 2300 2320 2255 2265 2255 2265
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1040.00+5.00, Aug11/Oct11 1015.00+5.00, Nov11/Jan12 1020.00+2.00, Feb12/Apr12 1025.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1485.00+5.00, Jul11/Sep11 1495.00+0.00, Oct11/Dec11 1425.00-10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1567.50-15.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Feb11 1322.50-2.50, Mar11 1320.005.00, Apr11/Jun11 1315.00+2.50, Jul11/Sep11 1287.50-2.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1395.00, Mar11 1387.50, Apr11/Jun11 1355.00. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1340.00, Mar11 1332.50+10.00, Apr11/Jun11 1300.00+5.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1347.50+7.50, Mar11 1340.00+10.00, Apr11/Jun11 1307.50+2.50, Jul11/Sep11 1267.50+0.00. PALM STEARIN: Dlrs tonne fob Malaysia Mar11 1290.00+5.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Feb11 1030.00+5.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2320.00+20.00, Mar11/Apr11 2300.00+20.00, Apr11/May11 2280.00+20.00. -Reuters
2503 2503.5 2525 2525.5 2590 2595 2633 2638
9875 2505 9875.5 2505.5 9864.5 2484.5 9865 2485 9660 2435 9670 2440 9255 2388 9265 2393
28005 28010 28020 28025 26855 26955 25575 25675
TIN
ZINC NASAAC
31200 2401 31250 2402 31250 2422 31300 2422.5 30830 2440 30880 2445 2425 2430
2495 2505 2510 2520 2555 2565 2610 2620
MUMBAI: Indian sugar prices ended steady on Friday as bargain-hunting outweighed the government's indecision over exports of 500,000 tonnes sugar and higher supplies, dealers and analysts said. "Higher supply pressure will keep market under pressure for next one week. At the end of the month we might see some improvement in the demand from bulk consumers," said Ashwini Bansod, a senior analyst at MF Global Commodities India. India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January. In December, farm minister said mills could export 500,000 tonnes of sugar under Open General Licence (OGL). But the government, bowing to public pressure over food prices, has referred the issue to a panel of ministers. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety eased by 0.15 per cent to 2,646 rupees ($57.9) per 100 kg. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended up 0.1 per cent at 2,780 rupees per 100 kg. -Reuters
Brent rises above $101 as Mubarak hangs on OPEC boosts supply to 2-year high in January LONDON: Brent oil prices rose above $101 a barrel on Friday after Egypt's President Hosni Mubarak refused to step down, but later pared gains as a stronger dollar sapped buying interest for commodities. A US official said he believed that Mubarak has left Cairo and arrived at the Egyptian resort of Sharm elSheikh as angry protestors marched on the presidential palace. ICE Brent crude futures rose by 62 cents to $101.49 a barrel by 1545 GMT while US crude futures were down 33 cents at $86.40 a barrel. Brent touched a day's peak of $102.03. This left the spread between the two benchmarks at around $15 a barrel, but down from a record high above $16 in the previous session. Analysts at Commerzbank said that prices, especially Brent, contained a risk premium because of the unrest in Egypt. Egypt is not a major oil producer and it consumes about as much as it pumps. However, investors worry more about the prospect of severed oil flows along a strategic pipeline and the Suez Canal, which together amount to around 2.5 million barrels per
day (bpd) of crude oil. Traders are expected to watch closely for any sign that protests in oil producing nations Iran and Algeria planned for the next week could develop into broader popular movements resembling those in Egypt. Trading has been unusually volatile in the past two trading sessions as investors have grappled with the significance of conflicting geopolitical signals in the Arab world. A market rumour that King Abdullah of top oil producer Saudi Arabia was seriously ill or may even have died stoked a rally on ICE Brent futures but prices quickly pared gains after Saudi sources dismissed the talk. Many analysts expect prices to remain volatile. Oil prices have largely ignored news that the Organization of Petroleum Exporting Countries has boosted oil output to a two-year high to help cool the price rally above $100 a barrel. In its monthly report, the producer organisation said on Thursday its January production rose by 400,000 bpd to 29.72 million bpd, the highest since December 2008 when it last made an official change in
its output. "Fundamental data is not
US late-morning trade
Oil falls after Mubarak steps down NEW YORK: Oil prices fell on Friday on news Egyptian President Hosni Mubarak had stepped down, easing tensions about a potential supply disruption in the region. "(People) see a lessening of the tension and they're kicking oil out of the safe-haven bet and selling off what they bought earlier," said Peter Beutel, president of Cameron Hanover in New Canaan. US crude was down 23 cents at $86.50 a barrel at 16:15 GMT. Brent crude pared gains and was up 24 cents at $101.11 a barrel. Brent's premium to US crude, which had blown out to a record above $16 a barrel, supported by concerns about Egypt and high inventories levels in the United States, widened slightly to $14.75.
prevailing in the market...it is only creating background noise. It's more about the sentiment in the market," said Weinberg.-Reuters
US cotton soars to fresh 150-yr top, $2/lb in sight NEW YORK: US cotton futures charged to a fresh 150year top on Thursday on combined fund and speculative buying and the market seemed poised to hit $2 a lb in the days ahead, analysts said. The key March cotton contract on ICE Futures US rose the 7cent daily limit to trade at $1.8758 per lb, with the session low at $1.83. Volume traded was heavy and it stood around 32,500 lots at 1823 GMT, which was already 40 per cent above the 30-
day norm, Thomson Reuters preliminary data showed. Since the middle of January, cotton futures have climbed in valued by more than a third, bolstered by overseas mill buying seeking to lock up scarce supplies, dealers said. The tightness has been aggravated by the fact that supplies of cotton from the United States, the world's top exporter, are practically gone. The trade estimates more than 95 per cent of the crop of 18.32 million (480-lb) bales has been sold. The market will be
looking toward the US Agriculture Department's potential plantings report on March 31 to see if the rally will prompt more American farmers to plant cotton in 2011. The National Cotton Council of America, an industry group, said US 2011 cotton plantings will likely reach 12.5 million acres. Most analysts feel the real number is much higher because the NCC survey was conducted before the current rally in the cotton market. -Reuters
Copper rises after Mubarak’s surrender LONDON: Copper turned positive on Friday after Hosni Mubarak stepped down as Egypt's president, as a resolution of the country's political crisis boosted investors' risk appetite, but concerns about Chinese demand capped gains. Copper for three-months delivery on the London Metal Exchange ended at $9,961 a tonne from a close of $9,951 on Thursday. "Copper sold off early today on concerns over the situation in Egypt but then news that Mubarak left Cairo and stepped down pushed prices up," MF Global energy and metals analyst Edward Meir said. "There are concerns that higher interest rates will soon be coming," RBS global head of commodity and strategy Nick Moore said. "People were expecting that the Chinese
would come back from the New Year holiday with a voracious appetite but they haven't." Copper struck a record high of $10,160 a tonne on Monday
Shanghai copper falls Shanghai's most active copper contract fell half a per cent to 75,520 yuan. Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 7.4 per cent from last Tuesday exchange said on Friday. on the back of concerns about supply, as well as improving economic data that bode well for demand. Tin earlier struck a record high of $31,800 a tonne. It finished at $31,775 from $31,500 at Thursday's close. "If you take a view for the next few months, sentiment is still very positive," Daniel
Briesemann, an analyst at Commerzbank, said of copper. "The major driver is supply constraints...," he said "...with tin as well." Stocks of copper in LME warehouses fell 225 tonnes to 396,725 tonnes, but a recent trend of rising stocks has raised some concerns about the demand outlook. Underscoring these worries, Shanghai copper stocks rose nearly 10,000 tonnes to 144,197 tonnes. Aluminium finished at $2,496 a tonne from $2,537. Stocks of the metal used in transport and packaging fell 2,325 tonnes but were just 41,300 tonnes off a record high of 4,640,750 tonnes hit on Jan. 20, 2010. Stainless steel material nickel finished at $28,325 from a close of $27,875 a tonne. Reuters
National Commodity Exchange Ltd Trading Summary Date
11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011 11-Feb-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 17FE11 FE11 FE11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
86.25 89.64 92.96 29.79 29.20 1357.00 1358.00 1357.50 1357.90 1356.80 1359.10 37229.00 37302.00 37250.00 37266.00 37275.00 43466.00 43466.00 38331.00 38372.00 38385.00 38399.00 38318.00 44619.00 44093.00 44109.00 44124.00 44031.00 3190.00 3196.00 5510.00 86.20 85.56
87.87 90.90 93.40 30.27 30.08 1366.10 1366.30 1367.10 1362.50 1364.10 1362.80 37414.00 37423.00 37439.00 37387.00 37395.00 43607.00 43607.00 38439.00 38481.00 38496.00 38510.00 38524.00 44619.00 44222.00 44238.00 44254.00 44270.00 3207.00 3205.00 5568.00 86.21 85.57
86.15 89.62 92.96 29.77 29.20 1351.70 1352.00 1352.50 1357.90 1353.00 1359.10 37219.00 37302.00 37250.00 37266.00 37275.00 43466.00 43466.00 38331.00 38372.00 38385.00 38399.00 38318.00 44046.00 44093.00 44109.00 44124.00 44031.00 3190.00 3196.00 5510.00 86.20 85.56
87.16 90.47 93.40 30.08 30.08 1362.50 1362.80 1363.50 1362.50 1362.80 1362.80 37414.00 37423.00 37439.00 37387.00 37395.00 43607.00 43607.00 38439.00 38481.00 38496.00 38510.00 38524.00 44173.00 44222.00 44238.00 44254.00 44270.00 3207.00 3205.00 5568.00 86.21 85.57
Traded Volume in lots 735 87 150 1 1,278 1,838 1,517 47 6 1 1 -
Previous Settlement Price 87.59 90.75 93.54 30.10 30.10 1364.80 1365.10 1365.80 1364.80 1365.10 1365.80 37488.00 37497.00 37513.00 37461.00 37469.00 43693.00 43693.00 38515.00 38555.00 38569.00 38583.00 38596.00 44261.00 44308.00 44323.00 44339.00 44354.00 3190.00 3196.00 5510.00 86.20 85.56
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 87.16 137 90.47 40 93.40 3 30.08 59 30.08 1 1362.50 1,347 1362.80 1,602 1363.50 1,025 1362.50 1362.80 7 1363.50 37414.00 14 37423.00 1 37439.00 80 37387.00 1 37395.00 43607.00 43607.00 38439.00 38481.00 38496.00 38510.00 38524.00 44173.00 2 44222.00 11 44238.00 44254.00 44270.00 3207.00 3205.00 5568.00 86.21 85.57 -
Former SA Olympic swimmer and future Princess of Monaco Charlene reacts during visit to local school in Pietermaritzburg
10
Saturday, February 12, 2011
Afridi takes advice from Pak legends
Scandal won't affect our game: Misbah
Monitoring Desk KARACHI: Pakistan captain Shahid Afridi turned to the iconic duo of Wasim Akram and Imran Khan to seek advice for a successful World Cup campaign and both the former captains advised him that keeping the side united would be the key to winning the trophy. "Yes I spoke to Imran Khan and Wasim Akram as I idolise them for their exploits for Pakistan cricket and both were very supportive and gave some sound advice," Afridi said before boarding the flight to Bangladesh early this morning. Imran reminded the flamboyant all-rounder that as captain it was his prime responsibility to perform himself and keep the players happy. "Imran said unity would be the key to success in the tournament and if the players had self-belief and stuck together in the World Cup, they would achieve wonders," Afridi said. He said the former captain, who led Pakistan to the 1992 World Cup title, told him that he had high hopes from the current squad as they appeared gelled and had plenty of talent and depth. "Imran's other advice was to be prepared for injury problems in the tournament and not to get discouraged. He said Pakistan had proved everyone wrong by winning the 92' tournament," Afridi said. Afridi said former captain had also advised him to keep working with the senior players and to keep on reminding them how important they were to the team. "Imran bhai also advised that we should be careful about the dew factor in the tournament as most of the matches are day and night fixtures and in March and April he pointed out that this was a major issue in India, Sri Lanka and Bangladesh in the evening," he said. Afridi said Wasim, who led Pakistan to the final in the 1999 World Cup, had advised him to keep backing his players all the time. Apparently, Wasim told Afridi that he should avoid criticising any of the players in public as this proves discouraging for them and spoilt the dressing room atmosphere. The former captain told Afridi that even if he had any issues with their performance, he should speak to him privately and not publicly. "Wasim's contention was this way the players even if they were struggling for form retained their confidence which was the key to winning the World Cup."
NZ’s Kane to rejoin Kiwi WC Squad WELLINGTON: New Zealand batsman Kane Williamson has overcome a chest infection and will leave Auckland tomorrow for India and the upcoming cricket World Cup. According to media say, the 20-year-old was due to fly out with the rest of the New Zealand team on Tuesday but had his departure delayed by medical staff. He will not make it to India in time for New Zealand`s first warm-up match against Ireland in Nagpur on Saturday but will be with the team in time for a second warm-up match against India in Chennai on Wednesday. New Zealand`s first group match is against Kenya at Chennai on February 20.Online
DHAKA: Bangladeshi journalists jostle to get closer to ICC World Cup trophy, on display at a local newspaper office.-Reuters
Team confident to bring WC home: Afridi ISLAMABAD: Pakistan skipper Shahid Afridi has said that the kind of team we have, we should really make it in to the semi-finals of the World Cup. "Of course we want to play the final and win it - everyone does - but we should make the semi," Afridi to media. Pakistan will enter in the mega event with a fresh squad, seven out of Pakistan's 15-man squad have not played more than 35 ODIs, and for eight, this will be a first World Cup. It is the kind of unknown they thrive on, the kind captain Shahid Afridi feels makes them "the most dangerous team at the World Cup." Pakistan have lost more
than they have won since the Australia tour - 10 losses, 8 wins - but they've pushed good teams to the very brink, usually in direst off-field circumstances. And the immediate run-in was much needed: a first ODI bilateral series win in over two years. "For some time now we've been trying to give the team an identity, a face on the field," Afridi told ESPN cricinfo. "It's coming along. We have got some good young players in the set-up now, guys like Umar Akmal, Ahmed Shehzad, Wahab Riaz mixed with some experienced guys. I see us as the most dangerous team at the World Cup," he
said. Misbah-ul-Haq, the vice-captain, Saeed Ajmal and Abdur Rehman have not played in World Cups before. "We've got options and I like that. We have batsmen like Younis Khan and Misbah who can play long innings, guys in the middle that are power-hitters. We have wicket- taking bowlers so I'm happy that we have a balanced side," Afridi said. Afridi said that the pressure is there as captain for sure, to keep everyone up on the field, to get everything going, to get the field right and to do well yourself but I enjoy that. You have good and bad days but I'm confident my bowling is fine at the moment.-APP
Sehwag wants to bat all the 50 overs Monitoring Desk BANGALORE: Hard-hitting Indian opener Virender Sehwag on Friday sounded a warning to rival bowlers ahead of the World Cup, saying he planned to bat right through the innings. Sehwag, who opens the innings with batting superstar Sachin Tendulkar, is known for giving his team flying starts with his hard and clean hitting and has so far scored 7,380 runs in 228
one-dayers with 13 centuries. "I think I have never played 50 overs in one-day cricket. The maximum I have played is 43 or 44 overs," said Sehwag, 32. "But this time, I will try to bat 50 overs and give a good start to the team. I have been unsuccessfully trying this for the past 10 years, but the effort is still on." Sehwag said he was not feeling any pressure as his captain Mahendra Singh Dhoni and coach Gary Kirsten had always
backed him to play his natural game. "The coach and captain just allow me to bat the way I bat. So, they are not putting any pressure on me. They have said 'you just go and play your natural game'," said Sehwag. "My role is to go out there and enjoy myself and give a good start to the team. If I score 20 runs in 10 balls or 100 in 70 or 80 balls, I am happy with that."
KARACHI: Pakistan vicecaptain Misbah-ul-Haq does not believe that the recent spot-fixing scandal will have any impact on the performance of the team in the World Cup, staring from February 19.As the Pakistan squad prepares to leave for Bangladesh tonight, Misbah said the team had gained momentum after the series win in New Zealand and was going into the tournament with their spirits high. "We are going to play positive cricket and our focus is totally on cricket and not on what has happened off the field recently. I am confident it will be a good tournament for us," said Misbah.Pakistan Test
Hammers to occupy London Oly stadium Monitoring Desk LONDON: West Ham United have been selected as the preferred bidder to occupy the London Olympic stadium after the 2012 Games, the Olympic Park Legacy Company (OPLC) said on Friday. West Ham defeated London Premier League rival Tottenham in the battle to inherit the 496 million pound ($796 million) stadium. The unanimous recommendation from the OPLC needs to be rubber stamped by the government and London mayor Boris Johnson. The authorities are keen to have a viable tenant to ensure that the stadium, centrepiece of the 9.3 billion pound Olympics, helps to regenerate one of the poorest parts of the capital. "We are confident that this represents the very best legacy for the stadium," said Margaret Ford, head of the OPLC. "It is cracking for the communities of east London, it is great for Londoners, it is very good news for the UK taxpayer and we believe in this recommendation it is also a really good outcome for sport." Tottenham's bid had proved particularly emotive. It planned to demolish most of the stadium and take out the running track to make way for a 60,000seater soccer-only venue at a cost of 300 million pounds.
captain also said that he was happy with his own form. It is great that I have found form at the right time, ahead of such a big event and hopefully it will continue in the World Cup also. Playing for the World Cup for the first time is a big motivation to do well." Misbah, who had an outstanding series in New Zealand where he scored six half-centuries, said the team was clear about what was expected of them in the World Cup."It will be a big event for everyone as the opposition changes in every match and so do the conditions. But I think after the way we gelled and performed in New Zealand,
the momentum is with us and no one should write us off," he said. Misbah also added that it was critical for the batting to click in the mega event. "We have good bowlers but the batsmen have to play their role in scoring the required runs while batting first or second. We have lot of experience and flair in our batting and Afridi and Razzaq are quality allrounders in the lower-order, which gives us lot of edge." Stating that he had happy memories of his last tour to India in 2007 and also of playing in Sri Lanka, Misbah said he was looking forward to the World Cup.-Online
India’s Dhoni assured, relaxed KARACHI: India`s Mahendra Singh Dhoni is the most assured, relaxed and confident captain going into the forthcoming World Cup, according to former Pakistan captain Imran Khan.The former great said India`s biggest strength is their captain who has the respect of his players. "He is the most assured and relaxed captain in this tournament and he has the respect of his players. He is also a very astute tactician and a matchwinner on his day," Imran said
on a private TV channel. Imran, who led Pakistan to the title in 1992 World Cup, said India are the clear favorites to win the title on current form. That they are one of the co-hosts only adds to it. "On the sub-continental wickets their batting will be a powerhouse. They have two quality bowlers in Zaheer Khan and Harbhajan Singh and have taken a very wise decision by including leg-spinner Piyush Chawla in their bowling lineup," he said.-Online
SA’s Lonwabo praises Ntini but avoids comparisons CHENNAI: Left-arm pace bowler Lonwabo Tsotsobe paid a generous tribute to Makhaya Ntini on Friday but took pains to avoid comparisons with the pioneer for black South African cricketers. "He's played a big role for me. I played with him in the franchise system back home. He played a huge role for the black community in South Africa and played a part in my success also," Tsotsobe told a news conference. Tsotsobe said he not would play the same role as Ntini when South Africa attempt to
win the World Cup for the first time. The tournament opens on Feb. 19. "I've tried to stop people from saying that I'm filling his shoes," he said. "I'm a different bowler to Makhaya and I try to use as much variation as possible. I'm not in the team because I'm filling his shoes. I'm doing a different role." Tsotsobe said his heroes had been left-arm pace bowlers Wasim Akram from Pakistan and Sri Lankan Chaminda Vaas while he now tried to learn from India's Zaheer Khan.-Online
India, SA are standout teams: Ponting BANGALORE: Australian captain Ricky Ponting does not believe that there are any favourites to win the World Cup, but indicated that India and South Africa would be the teams to watch out for in the quadrennial extravaganza starting February 19. "Who is the favourite right now, I am not really bothered because a number of teams have the ability to win the cup. In this sort of tournament there are a number of teams who can win. India and South Africa probably are the standout teams. They are the powerhouses of international cricket. " Pakistan and New Zealand are never too far away in ICC events. Sri Lanka, in these conditions, are as good an ODI side in the game around," Ponting said.
The Australian captain also felt that results in the lead-up to the World Cup don't count for much. "I don't really care where we start the tournament. It's irrelevant. I think going into the last World Cup there was negativity around us. We lost the Commonwealth Bank series and lost to New Zealand. So there were a few doubts around our team but we went there and won the World Cup. I don't think it really matters too much what's happening in the lead-up." But he is pleased with the team's 6-1 thrashing of England in the recently-concluded seven-match ODI series. "We are pretty confident coming into the World Cup just beating a pretty good English side 6-1. We are really
in good shape and confident... momentum is around our team. "I don't care. Who the favourite is. I don't know whether there is such a thing around in tournament like this. Ponting hoped that his team would peak towards the latter stages of the tournament. "It would be hard to maintain your intensity throughout the tournament because of its length and gap between some of the games. You can't take anything for granted. We will make sure that we progress nice and steady and make sure that we play our best cricket towards the latter part of the tournament," he said. It is an accepted belief by now that Sachin Tendulkar, playing in his sixth and probably last World Cup, would give it his all to win the trophy,
but Ponting hoped the script would turn differently. "There is no bigger stage than a World Cup for all of us to stand up and perform well. Sachin wants to have a good tournament and I am sure Sachin wants to win the World Cup but hopefully, it's not." The schedule has come in for criticism but the long gaps between matches, Ponting felt, will give the injured players, which his team has in plenty at the moment, enough time to recover and attain 100 per cent match fitness. "Normally, most ODI tournaments you play you get a break of two or three days in between games but here we have got seven or eight days between some of our games. We at the moment are carrying a few guys who are stiff and sore and are working their way
into full fitness. So it's a good thing for us to have time between games," Ponting said. "We have known that for a while. We are all very aware of that and that's international sport these days, unfortunately. It's all about managing workloads and managing players," he said. Ponting said the absence of Michael Hussey will be felt. "Mike Hussey is a big loss to our set up. His experience and knowledge of the game in a tournament like this are almost second to none. But it has given an opportunity to his brother David. "We had a couple of big setbacks in the last couple of weeks. Mike and Nathan Hauritz being ruled out from our World Cup squad. Shaun Marsh was the likely replacement of Hussey but he has
been ruled out as well. "But Jason Krejza and Callum Ferguson coming into the squad in the last momentum is not negative for us. Krejza has done well in India in Test cricket. He is a guy who can be a real match-winning bowler for us." Australia have an enviable record in the World Cup winning it a record four times, including once in the sub-continent in 1987 and Ponting, under whom they won it twice, is aware of the benchmark. "I never thought what it means if we win the World Cup. If we got to the final, I might sit back and think what it means for me and for us to win another World Cup. But we can't afford to look that far away. My main focus is to train hard and play well. Agencies
EU, IMF approve Greek aid but want faster reforms ATHENS: EU and IMF inspectors approved on Friday a new 15 billion euros tranche of aid for Greece but said progress was too slow and urged Athens to speed up reforms to meet the targets of its bailout deal. Greece has slashed public spending, frozen pensions and increased taxes under the terms of the 110 billion euros ($149.1 billion) bailout agreed in May last year to save it from bankruptcy, but was told on Friday it must do more. In a more critical tone than previous inspection visits, the lenders monitoring the debtchoked country's fiscal progress said Greece needed faster structural reforms in areas such as tax administration and health to secure recovery. "The program is on track but it will not remain on track without a significant, broad-based acceleration of reforms," said IMF mission chief Poul Thomsen. "Reforms have clearly not yet reached a critical mass needed
to secure recovery." In November, when the previous aid tranche was approved, the lenders sounded more positive, saying that although Greece technically missed fullyear targets due to statistical revisions, it had made a huge fiscal effort and met third quarter cash targets. The bailout was the first ever agreed to rescue a euro zone member, in a crisis that has sent shockwaves throughout the bloc, spilling over to Ireland and threatening Portugal and Spain. Many analysts believe Greece will not be able to handle its debt mountain when the threeyear bailout ends and will need to restructure its debt at some point. EU, IMF and Greek officials have ruled out restructuring but agree that something needs to be done to help Greece tackle a borrowing hump in 2014/2015. They are examining various options, including extending
bailout loan repayments and helping Greece buy back its debt. The 15 billion euro aid tranche must now be approved by euro zone finance ministers and the IMF board. Greece has already received 38 billion euros in aid. The lenders set an ambitious target for Greek privatisation proceeds, saying 50 billion euros should come in 20112015, including 15 billion in 2011-2012. The government's previous target was for 7 billion euros in 2011-2013. "We see there are three very important sources for privatisations -- listed and unlisted companies, the assets the government has in these companies, and commercial real estate," said the EU's mission chief Servaas Deroose. "To help reduce public debt and support higher investment and growth, it is essential to scale up privatisations," he said.-Reuters
UK producer prices surge; pressure mounts on BoE LONDON: British factory gate inflation rose twice as fast as expected last month, and the cost of raw materials soared, heaping pressure on the Bank of England to raise interest rates sooner rather than later. Evidence that pipeline inflation pressures are continuing to build will worry BoE policymakers at a time when consumer price inflation is nearly double its 2 per cent target and still rising. The Office for National Statistics said producer input prices rose 13.4 per cent on the
year in January, the biggest annual rise since October 2008 and well above forecasts for an annual rate of 12.6 per cent. Producer output prices rose 4.8 per cent on the year, the highest annual rate since May 2010. On the month prices jumped one per cent, double what economists had predicted. "This is one more troubling piece of evidence for the Monetary Policy Committee to consider when weighing up the inflation story," said Brian Hilliard, UK economist at Societe Generale.
"It appears manufacturers are gaining increasing pricing power." Britain's central bank is having to juggle soaring price pressures with a fragile economic recovery and it held interest rates steady this week at 0.5 per cent, the record low they have stood at since March 2009. BoE Governor Mervyn King maintains that inflation is being driven by external factors over which the central bank has no control, and one-off domestic factors such as the rise in value added tax. -Reuters
Continued from page 12
No #5
BERLIN: Germany's inflation rate picked up pace in January, data showed on Friday, after the statistics office revised the country's consumer prices index to show a 2.0 per cent year-onyear increase. "A higher inflation rate was last recorded in October 2008 with a gain of 2.4 per cent," the German Statistics Office said in a statement, confirming the 2.0 per cent year-onyear rise in the harmonised index of consumer prices (HICP). Germany's HICP differs from the headline consumer price index (CPI) mainly in the treatment of housing costs, since statisticians need to adjust their models to account for the lower level of home ownership versus other euro zone countries. Separately, the bureau reported wholesale prices recovered all the declines from the global economic crisis, after increasing at a 9.4 per cent annual rate last month. "The January 2011 wholesale price index exceeded the level from July 2008, reaching the highest level ever recorded," it said. For years, a low-inflationary environment in Germany has exerted downside pressure on the euro zone's overall HICP rate, since it accounts for just over a quarter of the weighting. Should German inflation maintain a 2 per cent annualised pace in the coming months, economists warn it may very well force the European Central Bank to raise benchmark rates sooner rather than later in order to ensure price stability. It would also likely push German government bond yields higher, adding to the interest payments it will have to pay on 302 billion euros in new debt it plans to issue this year.-Reuters
Continued from page 12
southwest of Qom, the Mehr report said, adding the blast caused panic among the residents of the clerical city. The ISNA report said the explosion struck "a pipeline and the blast did not cause any casualties," adding the cause of the blast was being investigated. The report, citing unnamed officials of National Iranian Gas Company, said gas distribution to households, power plants, businesses and industrial consumers had not been disrupted due to the blast. Seven major oil and gas pipelines are located in the area where the fuel from fields in southern Iran is transferred to the north where most major Iranian cities are based. On September 11, up to 10 people were feared killed from a gas pipeline explosion near Iran's northeastern city of Mashhad and another 16 sustained Continued from page 12 No #2 burns. Iran holds the second largest gas reserves in the world after the system. The project design and capacity building initiatives Russia, but still exploits a small portion of it.-APP also promote greater use of country systems by the donor commuContinued from page 1 nity, leading to increased aid effectiveness. No #6 "The new systems enable timely and reliable reporting of upcoming visit to Washington by President Asif Ali Zardari accounts and audit certification of financial statements. could be cancelled if US official Raymond Davis was not freed.Statements that used to take 24-28 months to be submitted to the Agencies legislature are now available within 8 months after the end of the Continued from page 1 No #7 fiscal year," said Aman Trana - Task Team Leader, "we anticipate the Circular said. It also advised all PRISM participants to this to further improve as Pakistan continues to upgrade its sysensure compliance with the Customer Transfer Guidelines, tems and increase capacity." Further improvements will include upgrading the SAP software Payment Systems and Electronic Fund Transfers Act 2007, and servers throughout the country, developing and implementing PRISM Operating Rules, 2009 and all other applicable SBP rules the Audit Management Information System, creating an and regulations including those related to KYC and AML/CFT. Information Security & Disaster Recovery Management System, Continued from page 1 No #8 along with establishing a data warehouse facility. The credit will general sales tax (RGST) due to political opposition, a low be from the International Development Association (IDA), the World Bank's concessionary lending arm and will have 35 years tax base, and the government's failure to raise fuel prices are to maturity with a 10-year grace period; it carries a service charge all adding to fiscal pressure. Commentators see Pakistan's divided coalition government as standing in the way of muchof 0.75 per cent.-Online needed reforms.-Reuters
explosives, according to police. After the blasts the trains for Karachi and Punjab were stopped on different railway stations. After blowing up Hyderabad railway tracks the militants targeted railway tracks in Nawabshah, 284 miles between Sarhari and Nawaz Dahry. According to railway officials, the blasts damaged the railway tracks while Allama Iqbal and Pakistan Express were stopped on Nawab Shah Railway station. Meanwhile, the militants also blew up railway tracks in Nowshehro Feroz Pur area of Mehrab Pur suspending the railway operation temporarily. DS railway Aftab Memon told media that the railway track has been repaired.-Online
No #3
Continued from page 12
No #9
US consumer sentiment hits 8-month high
German Jan CPI revised up, WPI spikes
CONTINUATION No #1
11
International & Continuation
Saturday, February 12, 2011
Continued from page 1
launched a mutual assessment process that takes into account the charges have been proven against them. He said that the PMLglobal effect of country-level policies. France, which holds the N and people expectations were not fulfilled about the reduction rotating G20 presidency this year, has put currency reform at the top of the volume of the cabinet.-Online of its agenda. Strauss-Kahn's remarks were his clearest yet showing Continued from page 1 an alignment with the remedies proposed by French President No #10 Nicolas Sarkozy. As part of a reform toolkit, Strauss-Kahn suggestMakhdoom Shahabuddin, Babar Awan, Haji Gulam Ahmed ed the fund's international reserve asset, known as the Special Balour, Chaudhry Ahmed Mukhtar and Mir Hazar Khan Bajrani. Drawing Rights (SDR), could be used to smooth volatility.-APP Prominent members of the previous federal cabinet, who had not been included in the cabinet, are Qamar Zaman Kaira, Raja Continued from page 12 No #4 Pervaiz Ahsraf and Nazar Muhammad Gondal. The cabinet memSheikh said that it was the Prime Minister's initiative due to bers had tendered their resignations to Prime Minister Syed which the visit of the delegation materialised. He assured that the Yousuf Raza Gilani on Wednesday, after the Central Executive Norwegian Businessmen would make the best use of this visit to increase investment and trade between the two countries. The Committee (CEC) of the Pakistan Peoples Party had authorised Norwegian Ambassador in Pakistan apprised the Prime Minister Gilani to appoint a new "lean" cabinet. The decision of inducting that the Norwegian mobile company Telenor intends to organise a new cabinet was taken in view of the grave economic difficulthe first "Investment Conference on opportunities in Pakistan" in ties the country was facing. Meanwhile former foreign minister Norway in the near future and hoped that the concerned Pakistani Shah Mehmood Qureshi has refused to become part of new federorganisations would participate in this endeavour. The members of al cabinet without foreign affairs portfolio, sources close to the delegation which included Hanne Lovstad, CEO of LEBARA Qureshi told Online Friday afternoon. Official sources told Shah Mehmood Qureshi met PM ahead of and Tom Arne Nyborg of Dreker and Pendant, said that the potential of trade between the two countries are enormous. They stressed oath taking ceremony of the cabinet in PM house and expressed upon the need to reactivate the Chambers of Commerce and his reservations with the latter. Sources further told Shah Industries in both the countries to interact closely and take advan- Mehmood Qureshi asked reasons from PM for changing his porttage of the opportunities. The members further said that they had folio and the PM told this decision was taken by the top leaderexplored substantial opportunities for Norwegian investment in the ship of the party. Qureshi also protested against the character Housing, IT and oil and gas sectors in Pakistan. The meeting was assassination campaign launched by some circles against him sayattended by Zafar Mahmood, Secretary Commerce, Anisul ing certain elements in the party don't want to see him as foreign Hassnain, Secretary Board of Investment and the Ambassador of minister and attempts are being made to remove him from his office under a conspiracy, sources added. Pakistan in Norway, Faiz Mohammad Khoso.-Online
NEW YORK: US consumer sentiment rose to its highest level in eight months in early February, boosted by recent tax cuts and optimism about the economy, a survey released on Friday showed. A separate report also suggested stronger consumer activity as the US trade deficit widened slightly more than forecast in December to its highest level in four months. While consumers were more cheery about the economic and job market recovery, they were less sanguine about the nation's longer-term outlook, according to the latest consumer surveys from Thomson Reuters and the University of Michigan. The preliminary February reading for the overall index on consumer sentiment came in at 75.1, up from 74.2 in January. It was the highest level since June 2010 and was roughly inline with the median forecast of 75 expected by economists polled by Reuters.
"Further proof that the US economy is rebounding at a stronger pace than expected. It's been reflected in virtually all recent data outside of inflation data," said Michael Woolfolk, senior currency strategist at BNY Mellon in New York. The survey's barometer of current economic conditions jumped to 86.8, the highest level since January 2008, while the gauge of consumer expectations slipped to 67.6 from January's 69.3. US Treasuries touched session highs following the data as some worried about the long-term outlook. A separate survey of forecasters showed the US economy and jobs market are expected to grow more strongly in the first quarter than previously expected. The Federal Reserve Bank of Philadelphia's survey of 43 professional forecasters sees the economy growing at an annual rate of 3.6 per cent in
the current quarter, up from the estimate of 2.4 per cent three months ago. Though employment remains one of the biggest challenges for the economy, there have been signs the job market recovery is continuing, if not gaining speed. With growth picking up, consumers remain concerned about inflation, the University of Michigan surveys showed. One-year inflation expectations were unchanged at 3.4 per cent, the highest rate since the fall of 2008. The five-to10-year inflation outlook also was unchanged at 2.9 per cent. Concerns over inflation have been creeping up lately as commodity prices rise and on jitters that strength in the economy will force the Federal Reserve to hike interest rates sooner than expected. Nonetheless, the Fed is largely viewed as maintaining its accommodative policy for some time.-Reuters
India Dec industrial output slows to 20-month low NEW DELHI: India's annual industrial output in December rose at its slowest pace in 20 months on a higher base last year and stretched capacities at factories, but the central bank will likely continue tightening monetary policy to tame high headline inflation. Output rose 1.6 per cent from a year earlier compared with a median forecast of 2 per cent in a Reuters poll. Growth in industrial output was 16.8 per cent last December. The central bank, which has raised interest rates seven times over since March, is expected to continue tightening monetary policy as stubbornly high food prices drive broader inflation. India is suffering from high inflation that could eat into growth, with signs investor confidence in Asia's third largest economy was waning amid lack of economic reforms and a massive telecoms corruption scandal that has weakened the ruling coalition. Industrial output in November, which was 2.7 per cent, was revised upwards to 3.62 per cent, government data showed. India's industrial output figures are notoriously volatile, and forecasts ranged
No #11
from a contraction of 1 per cent to growth of 7 per cent. Manufacturing output, which constitutes about 80 per cent of the industrial production, rose an annual 1 per cent in December, the federal statistics office said in a statement. Capital goods contracted 13.7 pct in December indicating companies may have put off capacity expansion in the face of cost pressures because of consistent monetary tightening. "High statistical base effect was expected to pull down the headline number sharply and hence a growth rate lower than 2 per cent is not surprising. On a month-onmonth the IIP went up by over 11 per cent, indicating strong momentum," said Gaurav Kapur, Senior Economist with Royal Bank of Scotland. "I still see a 25 basis points hike in March on inflationary concerns," said Namrata Padhye, Economist with IDBI Gilts, Mumbai. The most-traded 8.13 per cent 2022 bond yield edged up 1 basis point to 8.20 per cent after the data as markets had already priced in a further slowdown because of the base effect and are now looking at the monthly inflation data to
be released on Monday for further cues. The data comes amid expectations for over 8 per cent headline inflation in January compared to December, stoked by high food inflation and rising global commodity prices. While Finance Minister Pranab Mukherjee termed the data as "disappointing", another key adviser, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia downplayed the data. "Month-to-month variation in the IIP should not occupy us to much ... And also when it shoots up the next month, don't assume that it's now going to continue at a very high rate," said Ahluwalia. Headline inflation in December was 8.43 per cent, and a Reuters poll forecast wholesale price index inflation for January, to be released on Monday, to ease slightly to 8.05 per cent. There were no fears of a contraction in India's industrial output growth as the manufacturing sector is doing well, Trade Minister Anand Sharma said on Tuesday, adding, antigovernment unrest in Egypt would not impact Indian exports.-Reuters
Continued from page 1
Tareen addressing a press conference said that investigations had shown a US consulate employee held for killing two people did not act in self-defence. Fahim's weapon (one of the killed) was neither loaded nor was it pointed at Davis. All the bullets were in the magazine and there was no bullet in the chamber,' Tareen told reporters. Tareen alleged that Davis fired 10 bullets at the two men and even shot one of them in the back as the victim was trying to flee the scene. 'Our investigations are complete and we have charged him for murder,' Tareen said. The United States said Davis was employed by their consulate as a technical adviser and should, therefore, enjoy diplomatic immunity. His detention is a violation of the Vienna Convention on Diplomatic Relations, the US said.-Online
No #12
Continued from page 1
A presentation of the reports of the sub-committee on textile industry to examine the expenditure of Rs500 million incurred by the Management of Textile City, Karachi for earth filling case was also given to the committee.Members of the Committee, Tariq Shabbir, Ch Saeed Iqbal, Syed Akhonzada Chitan, Rana Asif Tauseef, Abdul Rashid Godil and Waseem Akhtar Sheikh attended the meeting. The Secretary M/O Textile Industry while briefing the Committee stated that this year, Chinese and Pakistani cotton crop was damaged by the floods putting pressure on the cotton demand. The government is monitoring the situation, especially the export of cotton and yarn which is less than the previous year. As per estimate of Ministry of Food and Agriculture approximately 0.596 million hectares area was damaged by the recent floods out of total area of 3.2 million. Ministry of Food and Agriculture has further estimated that the loss will be around 2.6 million bales and expected production for the season will reach 11.4 million bales. The world production in the year 2009-10 was 128 million bales (170kg bale, however this year world cotton production would be 147 million bales. he Representative of the Garment City Faisalabad, briefed the Committee and stated that the government announced the setting up of three garment cities in Karachi, Lahore and Faisalabad under the Trade Policy 2003-04. The purpose of the projects is to provide facilities and necessary infrastructure to the textile sector with a view to promote value added garments (woven and knitted), home textiles, made-ups and accessories to the international markets.-APP
No #13
Continued from page 1
nightfall.Mubarak had sought to cling to power, handing some of his authorities to Suleiman while keeping his title. But an explosion of protests Friday rejecting the move appeared to have pushed the military into forcing him out completely. Hundreds of thousands marched throughout the day in cities across the country as soliders stood by, besieging his palace in Cairo and Alexandria and the state TV building. Nobel Peace laureate Mohammed ElBaradei, whose young suporters were among the organizers of the protest movement, told The Associated Press, "This is the greatest day of my life." "The country has been liberated after decades of repression," he said adding that he expects a "beautiful" transition of power. Later Palestinians in Gaza let off fireworks and shot into the air to celebrate the resignation of Hosni Mubarak , and Hamas called on Egypt's new rulers to change his policies. "The resignation of Egyptian President Hosni Mubarak is the beginning of the victory of the Egyptian revolution," said Hamas spokesman Sami Abu Zuhri. "Such a victory was the result of the sacrifices and the steadfastness of the Egyptian people," he told Reuters.Saza residents heard gunfire erupt across the city when news of Mubarak's departure spread, and fireworks lit up the sky.-Reuters
www.asharys.net
For Subscription
Manager Circulation Ahmad Omer
1.Classic News Agency Abdul Mutalib Ph: 0333 -230 07 66 2. E-mail at subscribe@thefinancialdaily.com, 3.SMS us at 0322-260 2 838 4. Contact Phone: 35 31 18 93 - 6
Italian Kitchens Karachi
Lahore
tel: 92(21)5860794-5
tel: 92(42)5694061-2
12
Saturday, February 12, 2011
RIAZ NEWS AGENCY Cell # 0333-5373137
SHAKIL NEWS AGENCY Cell # 0333-4400472
World Bank Afghan Pakistan Transit Trade Agreement undersigns $24.5mn credit ISLAMABAD: The World Bank Friday approved a credit worth $24.5 million in additional financing for the Second Improvement to Financial Reporting and Auditing Project (PIFRA II) to further increase the accuracy and reliability of financial reporting, public financial management and oversight at all levels of government . "The development of an accounting, reporting, and auditing system that covers all levels of government is notable
Additional financing for PIFRA II KARACHI: Policemen charging batons on PIA employees during a sit-in demonstration at Quaid-e-Azam International Airport. -Online
Global monetary system must see the light: IMF WASHINGTON: IMF chief Dominique Strauss-Kahn has suggested the currencies of China and other emerging economies should be added to its reserve asset to promote stability in the global monetary system. Strauss-Kahn, the managing director of the 187-nation International Monetary Fund, said an expanded role for the IMF's special currency could help to bolster the monetary system in the face of damaging volatility. Noting the only way the world survived the 2008 financial crisis was through extraordinary international policy cooperation, he warned: "Global imbalances are back."
Issues that were worrisome before the crisis -- large and volatile capital flows, exchange rate pressures, rapidly growing excess reserves -- were "on the front burner once again," the managing director said at an IMF panel discussion on international monetary reform. If the problems were left unresolved, they "could even sow the seeds of the next crisis," he warned. Such reform would help address the root of those global imbalances and bolster the system's ability to prevent future crises. "When we worry about the deficiencies of the international monetary system, we are mostly worrying about volatility: a sense that money
sometimes flows around the globe in too volatile a fashion, and that countries need a more stable, more predictable external environment in order to prosper," the former French Socialist finance minister said. Strauss-Kahn recalled that the IMF has been working to limit that volatility through several approaches: by strengthening coordination of economic and monetary policy, stepping up surveillance of capital flows and improving its financial safety net for member nations in need. Under a mandate from the Group of 20 developed and emerging economies, representing about 90 percent of global output, the IMF has See # 3 Page 11
Norway trade delegations calls on Gilani
PM ties trade with economic upswing PM hails Telenor's investment moot initiative ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Friday reiterated that Pakistan is looking for trade with the world to achieve economic selfreliance. Pakistan, he said, welcomes foreign investment in various sectors and has designed its policy accordingly with multiple incentives for the investors. The Prime Minister was talking to the Norwegian Business delegation here at the Prime Minister's House. The delegation is currently in Pakistan to explore possibilities of investment as well as to enhance trade between Norway and Pakistan. The Prime Minister said that Pakistan would extend complete support to the initiative of Telenor for organising the "Investment Conference on opportunities in Pakistan" in Norway. The Board of Investment (BOI), Trade Development Authority (TDA), the Ministry of Foreign Affairs and the Ministry of Commerce, he said, would be directed to cooperate in this effort. The Prime Minister expressed confidence that the visit of the Norwegian business delegation would prove fruitful for both the countries and pave the
way for enhancing the trade volume. He thanked the Government and the people of Norway for the assistance given during the recent floods and lauded the Government of Norway's ten-year assistance programme for the rehabilitation of the flood affectees. The Prime Minister assured the delegation that maximum security would be extended to the Norwegian investors as being given to a large number of foreign companies already working in Pakistan. The menace of terrorism, he said, could be affectively confronted through socio-economic development and creation of economic opportunities particularly in the underdeveloped areas. The Prime Minister said that while very cordial relations exist between the Governments of the two countries, the exchange of parliamentary and business delegations would further boost the bilateral ties between Norway and Pakistan. These contacts, he added, would facilitate the people to people contacts essential to establish longterm relationship. The leader of the Norwegian Business Delegation, Amir Jawed See # 4 Page 11
Foreign Funding to ministries
Devolved ministries’ ‘inflows’ in EAD hand ISLAMABAD: Economic Affairs Division (EAD) would look after the distribution of foreign funds to the ministries that have been devolved or would be devolved in the future. According to sources, the decision to this effect was made by the Parliamentary Commission on Implementation of the 18th amendment. The commission has devised a strategy with regard to billion of rupees of foreign aid that devolved ministries are getting for various projects and/or donors in the head of various development projects currently underway by different ministries. Sources told that ministries devolved to provinces would continue working on projects still underway. Economic Affairs Division will remain responsible
for the smooth disbursement of those funds to concerned ministries whereas a responsible officer would be appointed in EAD, so to ensure the smooth working on that particular project, sources added. Sources further told that in future all the matter related to devolved ministries whose projects are dependent on foreign funds, would be dealt by EAD as before. Sources told Online that United Nations, World Bank, Canada, England, and other foreign donors have continuously been providing billions of rupees funds to various devolved ministries, especially Population Welfare, Social Welfare, and Special Education, Tourism, Education, and Culture for various development projects.-Online
as these achievements place Pakistan at the forefront of Public Financial Management reform in the South Asia region," said Rachid Benmessaoud, World Bank Country Director for Pakistan. "Pakistan is the only country in the region where SAP has been implemented successfully on such a large scale in the public sector." Since the approval of the project in 2005, it has demonstrated notable results in improving the capacity of financial resource management, budgeting, expenditure control and accountability at the national, provincial and district levels. Through the development and operation of the Financial Accounting and Budgeting System, the project has greatly improved accountability and transparency by strengthening internal controls and enabling stakeholders to generate timely reports through See # 2 Page 11
APTTA takes effect today
ISLAMABAD: Afghan Pakistan Transit Trade Agreement (APTTA) would be implemented from today (Saturday). The 1st meeting of Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA) has already started in Islamabad on Friday. Secretary Commerce Zafar Mahmood and Afghan Deputy Minister for Commerce and Industries Muhammad Sharif Sharify co-chaired the meeting. In the meeting, both sides took review of the issues relating to the implementation status of Afghan Pakistan Transit Trade Agreement (APTTA). These issues included installation of tracking system, establishing bank guarantee system and international requirements for sealable trucks. In his welcome address, the secretary Commerce expressed that due to persistent efforts of the joint working group, APTTCA was successfully concluded. He expressed that, being an key trading partner, Pakistan attaches utmost importance to Afghanistan. He
further stated that the new transit agreement is a far better document which is based on international best practices. He highlighted that the main concern of our business community has been the issue of smuggling. However, he expressed his satisfaction that APTTA provides for a comprehensive inbuilt mechanism to address the issue of unauthorised trade. Muhammad Sharif Sharifi, Deputy Minister for Commerce and Industries of Afghanistan in his opening remarks thanked Pakistani side for extending warm hospitality to the Afghan delegation. He stated that both Pakistan and Afghanistan enjoy historical trade and economical relations. Both countries are also members of ECO and Saarc, which further promote transit and bilateral trade cooperation. He said that APTTCA will work hard to sort out all problems in APTTA ‘s implementation. APTTCA would deal with all matters related to transit trade and transportation between two neighbours.Online
Khi, Hyd, Nawabshah tracks hit; trains stopped for sometime
Militants partly bomb some rail-lines in Sindh KARACHI: Some unknown militants Friday blew up parts of railway tracks in Karachi, Hyderabad and Nawabshah leaving two persons injured and suspending the railway operations. According to media reports, two bombs exploded on railway tracks near Baloch Colony damaging one and a half feet railway track and injuring two persons. The injured were shifted to Jinnah hospital.
In the wake of further terror incidents the Hazara Express was stopped at Karachi Cant. The said train departed after an hour . According to bomb disposal squads 1/2kg explosive material was used in each bomb. After Karachi blasts the militants blew up parts of down railway tracks in Hyderabad are, with 3kg See # 1 Page 11
LHC agrees to Kazmi's bail before arrest plea LAHORE: Lahore High Court (LHC) while granting bail before arrest plea till February 17 to sacked minister for religious affairs, Hamid Saeed Kazmi in Hajj corruption case has directed him to resort to Islamabad High Court (IHC). A petition was filed on behalf of Hamid Saeed Kazmi in LHC on Friday whereby he had taken the plea he was being implicated falsely in a corruption case and was under the threat that FIA would arrest him, therefore, he be granted the bail. He further submitted that he wanted to take part in investigation in connection with Hajj corruption case therefore, so he shall not be arrested. The report presented by FIA in Supreme Court (SC) was not correct and he was involved in the corruption case with mala-fide intent by leveling baseless allegations against him. LHC while accepting his plea on bail before arrest directed him to approach IHC besides filing surety bonds worth 5 million rupees.-Online
Gaslines explode in Iran at three places TEHRAN: Up to three gas pipelines exploded on Friday in central Iran near the Shiite holy city of Qom without causing casualties or disruption of fuel supply, media reports said. The Mehr news agency said three pipelines were struck by the blast, the cause of which is unknown, while a report published by the ISNA news agency said it was a single pipeline which exploded early Friday. "Three gas pipelines exploded at around 5:50 am (0220 GMT) 25 kilometres (15 miles) north of town of Salafchegan," a special free economic zone located See # 5 Page 11
Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.