International Karachi, Thursday, January 13, 2011, Safar-ul-Muzaffar 8, Price Rs12 Pages 12
Pak seeks special US trade category
Election reforms set in motion
See on Page 12
Let’s burry hatchet: India to Pak
See on Page 12
NA body endorses ‘Carriage Bill 2010’
See on Page 12
See on Page 12 Economic Indicators
20 die in Bannu blast
$17.20bn Forex Reserves (1-Jan-11) 14.61% Inflation CPI% (Jul 10-Dec 10) $10.98bn Exports (Jul 10-Dec 10) $19.13bn Imports (Jul 10-Dec 10) $(8.15)bn Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Nov 10) $(504)mn $5.29bn Remittances (Jul 10-Dec 10) Foreign Invest (Jul 10-Nov 10) $746mn Rs 495bn Revenue (Jul 10-Nov 10) $58.41bn Foreign Debt (Sep 10) Rs 5348.6bn Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) $287.9mn -2.81% LSM Growth (Oct 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 171.85mn Population
Portfolio Investment SCRA(U.S $ in million)
184.89 Yearly(Jul, 2010--11-Jan-2011) Monthly(Dec, 2010--11Jan-2011) -10.50 26.42 Daily (11-Dec-2011) 2900 Total Portfolio Inv (31 Dec-2010)
NCCPL (U.S $ in million) FIPI (12-Jan-2011)
5.77
Local Companies (12-Jan-2011)
-1.69
Banks / DFI (12-Jan-2011)
-1.51
Mutual Funds (12-Jan-2011)
-0.50
NBFC (12-Jan-2011)
-1.77
Local Investors (12-Jan-2011)
-0.07
Other Organization (12-Jan-2011)
-0.23
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ISLAMABAD: US Vice President Biden exchanging views with PM Gilani at PM House in Islamabad. Reuters
Cos profits to up 20pc this yr Ahmed Siddique KARACHI: Where robust foreign buying remains the major attraction for local bourses, corporate-earning is the other major factor that will cheer marketplayers this year. After 4 years (20072010), listed companies' profits are likely to post double digit earnings growth of 20 per cent in 2011. The growth will be led by energy and banks, followed by cement and See # 19 Page 11
Yields on 3, 6mth paper up
Onion exports to India starts
BANNU: At least twenty people, including five security officials were killed and over a dozen other sustained injuries when a suicide bomber ploughed his explosivesladen vehicle into the front wall of Maryaan Police Station here on Wednesday. The blast was so powerful that the Police Station and a nearby mosque were completely razed down, killing twenty people. Five security personnel are also among those killed. The death toll may rise because people were offering Maghrib prayers in a nearby mosque, which was also badly damaged in the attack", a security official said. Immediately after the blast, emergency was imposed in the District Headquarters Hospital where the injured were shifted by rescue teams See # 16 Page 11
of credit. Following this approval from PM Gilani, trucks loaded with onion which are presently stationing at Wagah border will be able to move to India Government has allowed to open letter of credit to protect January, 4 letter of credit agreements and payments. Pakistan had slapped ban on exporting onions to India on December, 24 and consequent upon this step, the Lebanon's local markets had witnessed BEIRUT: national unity government dip in onion prices. has collapsed after See # 18 Page 11 Hezbollah ministers and Pak promises tax increases, fiscal overhaul their allies resigned over a United Nations-backed tribunal investigating the assassination of former Prime Minister Rafik Hariri. The state-run National News Agency said Wednesday that 11 minisKARACHI: Pakistan's subsidies and raise taxes to ters were stepping down ambassador to the United bring its budget deficit from the 30-member control. Cabinet States defended govern- under headed by "We are not the only Western-backed ment's decision last week to Saad reverse an unpopular country to adjust fuel prices Hariri, the slain prime minincrease in fuel prices, because of public opinion," ister's son. Husain insisting Pakistan has not Ambassador Hezbollah needed the See # 20 Page 11 abandoned efforts to reduce See # 17 Page 11 ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has allowed exporting onions to India. As per details, Prime Minister Gilani while according approval to the summary sent by ministry of commerce has permitted to export onions to India under letter of credit. During the meeting held in ministry of commerce on January 10, approval was sought from PM Gilani for exporting onion to India under the agreements signed with Indian importers in line with letter
Lebanon's Govt Falls
Desubsidising oil price vowed
Ghulam Raza Rajani KARACHI: State Bank of Pakistan Wednesday surged the cut-off yields of 3 and 6 month paper. SBP accepted bids worth of Rs155 billion in T-bills See # 21 Page 11
Biden meets PM, assures of "no boots on ground"
Pak says no to US great game Says strong Pak in US interest, vows to up aid Special Correspondent/ Agencies ISLAMABAD: Pakistan on Wednesday made it clear to the United States of America that it will not tolerate the latter's 'great game' in the region. According to the sources at Pakistan Foreign Office, Islamabad has made it clear to the visiting US vice president Joe Biden that Pakistan will not tolerate US 'great game' in the region. Meanwhile, United States assured Pakistan of "no boots on the ground" and said it fully respects
Pakistan's sovereignty. An official source privy to the meeting between Prime Minister Syed Yousuf Raza Gilani and US Vice President Joe Biden here at PM house said United States also acknowledged as "legitimate" Pakistan's apprehensions about foreign intervention through Afghanistan. The meeting that comes as the situation in Afghanistan enters a defining phase provided an opportunity to both sides to exchange views on bilateral and regional issues. Biden, who arrived here on a day-long visit, after meeting Afghan President
Rights of RekoDiq vest with govt: Samar
Rikodiq may fetch $500bn, SC learns ISLAMABAD: Renowned nuclear scientist and member Planning Commission, Dr Samar Mubarakmand has said that Pakistan can earn billions of dollars if it itself mine the Rekodiq gold and copper mines. He was talking to the media persons outside the Supreme Court building after appearing in the court
NSS bids online facility for Pak expats
during hearing about Rekodiq mines lease case. Dr Mubarakmand said Special Correspondent that Pakistan owns enough natural resources and tech- LAHORE: The facility of nically sound manpower to online investment for overmeet its energy needs and seas Pakistanis in the run the state institutions smoothly. However he said there is lack of sincerity and commitment to discover See # 13 Page 11
Drilling, cure to woes: govt ISLAMABAD: Federal Minister of Petroleum and Natural Resources Syed Naveed Qamar has expressed the need for accelerating oil and gas exploration and produc- National Savings would tion to mitigate the energy shortfall in the country. augment flow of foreign Energy is the basis of growth and welfare and all out exchange in the country. efforts are needed to expedite See # 15 Page 11 See # 14 Page 11
KHADDA MARKET, DHA V SUPER OLD BOOKS KHADDA MARKET, DHA V TARIQ BOOK POINT KHADDA MARKET, DHA V IDEAL BOOK POINT TOOBA MASJID, DHA II STUDENT BOOK STALL TEEN TALWAR UZMA BOOK STALL CLIFTON BILL BOARD CLIFTON MAZHAR BOOK SHOP CLIFTON FAMILY BOOK SHOP CLIFTON MR. OLD BOOKS CLIFTON OWAIS BOOK STALL BILAWAL HOUSE BOOK VALLEY BILAWAL HOUSE BOOK OCEAN BILAWAL HOUSE BILAWAL HOUSE STALL BILAWAL HOUSE
PARADISE BOOKS & DISTRIBUTORS KARACHI IQBAL BOOK STALL LIBERTY, TARIQ ROAD IRFAN BOOK STALL LIBERTY, TARIQ ROAD TARIQ BOOK STALL DUPATTA GALI, TARIQ ROAD TARIQ BOOK STALL SHARFABAD UNIVERSAL STORE SHARFABAD STAPLES BAHADURBABD ROUNDABOUT REHAN BOOK STALL BAHADURBABD ROUNDABOUT NAHEEDSUPERMARKET SHAHEED E MILLAT PSO STATION (MINI SHOP) STADIUM ROAD TIME BOOKS NEAR TIME MEDICO, STADIUM RD USMANIA BOOKS NEAR BAITUL MIKARRAM, GULSHAN IQBAL ABBAS BOOK STALL NEAR BAITUL MIKARRAM, GULSHAN IQBAL NEW TARIQ BOOK CENTRE GULSHAN IQBAL BOOK INN GULSHAN IQBAL AL BARKA BOOKS GULSHAN IQBAL MEHRAN BOOKS GULSHAN IQBAL BASHIR BOOK STALL REGAL, SADDAR HILAL NEWS AGENCY REGAL, SADDAR SHAHAB NEWS AGENCY REGAL, SADDAR SHAFI BOOK STALL REGAL, SADDAR ALIA BOOK STALL SHAHEEN COMPLEX, I I CHUNDRIGAR ROAD A-Z BOOKS NEAR ASGHAR ALI SHAH STADIM, N. NAZIMABAD ABC BOOK S HYDERI, N. NAZIMABAD FATMI STATIONERS HAIDERY MKT, N. NAZIMABAD ALIF LAILA BOOK STALL HAIDERY MKT, N. NAZIMABAD TARIQ BOOK TOWN HAIDERY MKT, N. NAZIMABAD
Hamid Karzai, also met President Asif Ali Zardari and the Chief of Army Staff General Ashfaq Parvez Kayani to discuss the Afghan strategy and eventual pullout of US forces. The two sides deliberated at length on the need for jointly charting a course of action to bring peace and stability to the insurgency torn Afghanistan and the region. The official terming the meeting as "extremely useful high-level consultation" said both the sides discussed how to proceed forward on matters related to See # 12 Page 11
SHAHJEE BOOK STALL HAIDERY MKT, N. NAZIMABAD DAWOOD BOOK TOWN BLOCK M, N. NAZIMABAD HASAN BOOK STALL SAKHI HASSAN. BLK M IDEAL BOOKS SAKHI HASSAN. BLK M COLLEGE BOOK STALL NAZIMABAD URDU BAZAR UNITED BOOKS NAZIMABAD URDU BAZAR RASHEED BOOK STALL
PAPOSH NAGAR , NAZIMABAD USAMA BOOKS DHORAJI VARIETY BOOKS DHORAJI TARIQ BOOK GALLERY DHORAJI PAK MEDICO M. ALI SOCIETY CLIFTON BOOK CENTRE BOAT BASIN, CLIFTON AMERICAN BOOK STALL BOAT BASIN, CLIFTON
BOOK PARADISE SEAVIEW, BADAR COMMERCIAL, DHAV GOOD BOOKS SEAVIEW, BADAR COMMERCIAL, DHAV
DECENT STATIONERS KHAYABAN E HAFIZ, DHA VI AL REHMAN STATIONER KHAYABAN E HAFIZ, DHA VI BOOK OCEAN 1 KHADDA MARKET, DHA V SAY PUBLISHING KHADDA MARKET, DHA V INDUS BOOK
Faislabad Malik Bok Centre 33, BD Ground. Multan News Corner Gulgasht Colony. Carwan Book Centre Quid-e-Azam Shopping Centre Peshawar Afzal News Agency Chowk Yadgar Saeed Book Bank Arbab Road, Cantt Quetta Ansari Book Stall Moti Ram Road, Corner Prince Road. Book Land Jinnah Road. Sales & Service Kabir Building Jinnah Road. New Quetta Book Stall Jinnah Road. Sialkot Modern Book Depot Aziz Shaheed Road, Sialkot Cantt. Lahore Qaumi News Agency Akhbar Market, Hospital Road. Rawalpindi Paradise Books & Distributors 1st Floor, Minhas Plaza, EPU Road, Opp: Rawalpindi Medical College. Hyderabad Mehran News Agency Yousuf Chamber. Sargodha Pakistan Standard Book Stall Block No. 11, Azad Rd.
2 Chinese co keen to set up steel mill at Kalabagh ISLAMABAD: A Chinese firm AMLONG has shown interest in setting up a steel mill of one million ton capacity at Kalabagh based on local iron ore deposit The Chinese Prime Minister during his recent visit to Pakistan was accompanied by over 200 delegates, including high officials, industrialists, businessmen and investors. AMLONG was also part of the delegation. The company officials held meetings with various government organizations including Ministry of Industries and Production, said an EDB statement issued on Wednesday. On the directives of the Ministry of Industries
PIA fetes women hockey players KARACHI: The participating teams of 26th PIA Women Hockey Championship were hosted a dinner by Managing Director PIA, Capt. Muhammad Aijaz Haroon and his wife . Uzma Aijaz Haroon at the Hockey Club. The Chairperson Pakistan and Sindh Women Hockey Association and Member National Assembly, Khushbakht Shujat had organized this mega event for the women hockey teams from all over Pakistan.-Online
TV PROGRAMMES THURSDAY Time Programmes 7:00 News 8:00 News 9:00 News 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24
THURSDAY Time 8:00 9:00 9:15 10:00 10:15 11:00 11:05 12:00 12:15 13:00 13:05 14:00 15:02 15:30 16:15 17:05 18:05 19:00 19:30 20:00 20:05 21:00 22:00 22:05 23:00 23:05 0:00
Programmes Chai Time (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Power Lunch News Islamabad Say (Rpt) News Akhri Sauda Mang Raha Hay Pakistan (Rpt) Karobari Dunya Ghar Ka Kharch (Rpt) Chai Time News Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Siyasat Mana Hai News
& Production, Engineering Development Board (EDB) gave a detailed presentation on the ironore deposits available at Makarwal and Chichali and other raw materials available in the same vicinity. The delegation showed keen interest in the project and requested CEO, EDB Aitazaz A. Niazi to arrange a visit to the site. Accordingly, a seven-member delegation led by S.M. Adil Shah, General Manager, EDB visited Makarwal/ Chichali iron ore deposits on January 10-11. The officials of AMLONG expressed satisfaction on the iron ore deposits available at
Kalabagh, the infrastructure and the proposed site for establishment of the steel mill. S.H. Farooqi, a leading geologist, briefed the delegation about the iron ore deposits in the area and the prospects of establishing a steel mill based on local iron ore. The delegation was provided all the necessary information including maps, composition of the ores, quantum of deposits and reports prepared in the past. The proven reserves at the Kalabagh iron ore deposit, whicic is the largest one in Pakistan, are around 350 million tones.-APP
LCCI chief points
Investment opportunities at RAK Staff Correspondent LAHORE: The President of Lahore Chamber of Commerce and Industry Wednesday said that investing in UAE ventures will definitely strengthen trade linkages among Pakistani and global investors. The LCCI President Shahzad Ali Malik was speaking at a function arranged for a delegation of Ras Al Khaimah Investment Authority (RAKIA), headed by Peter-Michael Schuster. LCCI Senior Vice President Sheikh Mohammad Arshad, for-
mer LCCI Presidents Mian Misbahur Rehman and Mian Muzaffar Ali also attended the meeting. The LCCI President said that Ras Al Khaimah (RAK) is a good project in Gulf. However, he invited the RAKIA officials to also look for and identify appropriate investment opportunities in Pakistan, especially in Punjab. Shahzad Ali Malik said that Pakistan and Gulf States, particularly Ras Al Khaimah, share cordial cultural and historic relations and urged Pakistani investors to help cement these further.
Thursday, January 13, 2011
Muneer to continue as IPCCI President
Automation at CDC Staff Reporter KARACHI: Central Depository Company in collaboration with NCCPL recently implemented the Automation of Securities Transfer Mechanism in the Central Depository System. This project was initiated in 2008 as a joint effort by CDC and NCCPL, with the objective of introducing efficiency in the settlement process relating to securities transactions and to ensure movement of securities from / to the respective Sub-Accounts. CDC played the lead role in the project and coordinated the efforts of all the participants. Inline with the view to promote Straight-through Processing in the capital market operations, this mechanism has been developed to automate the Free Delivery Transactions to a great extent thereby minimizing the use of the Main Account. Announcing the successful implementation of the project, CDC's CEO Muhammad Hanif Jakhura said: t"The Automation project has radically changed the entire securities settlement mechanism in the country. It also marks a significant and positive change in the operations of the capital market in Pakistan. This project is an immaculate example of what can be achieved by close cooperation between national institutions."
53 firms to take part at Heimtextil fair KARACHI: Trade Development Authority of Pakistan (TDAP) has arranged the participation of 53 Pakistani companies at world's largest home and contract textiles fair Heimtextil, starting from January 12 at Frankfurt, Germany. According to TDAP, 726 square meters of space has been reserved in Hall No. 10.0 and 10.3 to set up a Pakistan Pavilion where Pakistani exhibitors will display a wide variety of home textile products. TDAP has regularly been organizing participation in this event for last many years. It is pertinent to mention here that in the last event, Pakistani exhibitors which participated under the umbrella of TDAP secured orders worth $29.4 million.-APP
KESC thanked KARACHI: Patron InChief and Chairman, Korangi Association of Trade and Industry (KATI) S M Muneer and Johar Ali Qandhari have hailed the KESC's assurance for uninterrupted power supply to the industrial areas of Karachi despite the shortage of gas. In a statement they said that KESC eased up a lot in load-shedding in industrial areas on Wednesday despite receiving less supply of gas from SSGC.-PR
KARACHI: Chief Minister Sindh Syed Qaim Ali Shah addressing the Sindh Assembly session on Wednesday.-Online
Sindh MPs repose trust in President Staff Reporter KARACHI: The Sindh Assembly Wednesday passed unanimous resolution expressing full confidence and trust in the leadership of President Asif Ali Zardari who is also the CoChairman of Pakistan Peoples Party (PPP). "This House resolves to show its fullest confidence and trust in the President of the Islamic Republic of
Pakistan Asif Ali Zardari who was elected by securing 481 votes (71% of the Electoral College) from the four provincial assemblies, Senate and the National Assembly of Pakistan being CoChairman of the PPP as President of Pakistan," said Sindh Minister for Law and Parliamentary Affairs, Muhammad Ayaz Soomro in a resolution passed in the assembly
APNS thanks PM for grant, plot, raise in ad rate TFD Report KARACHI: The All Pakistan Newspapers Society ( APNS) has expressed its profound gratitude to the Prime Minister of Pakistan, Syed Yousuf Raza Gilani for accepting the APNS requests during a meeting with Executive Committee of the APNS at Islamabad on January 10. Hameed Haroon, President APNS apprised the Prime Minister that the APNS is building its headquarters at Karachi which needs government support for meeting the expenses and requested the Prime Minister to sanction a sum of Rs.50 million towards the construction cost. He also requested the Prime Minister to be the chief guest at the foundation stone laying down ceremony of the APNS House. The Prime Minister agreed to the APNS request and announced Rs.50 million grant for the construction of the office building at Karachi which will be paid in two installments : Rs.25 million in the month of January, 2011 and the balance after July 2011. The APNS delegation also pointed out that the advertisement rates for government advertising were frozen in 1982 during the regime of Gen. Zia-ul-Haq and some nominal increases were allowed over a period of time, last being just 20% increase in 2001. The APNS requested the
Prime Minister to increase the government advertisement rates in accordance with the CPI increase during the last 10 years which accounted for 135%. The Prime Minister agreed in principle the APNS request for upward revision in the tariff of government advertisement in newspapers which will be decided by the Secretary Information,. Taimoor Azmat and Secretary General, APNS, Sarmad Ali. The President APNS also stated the Capital Development Authority had earmarked a plot for APNS at Zero Point for its Federal Secretariat but the plot has not been allotted so far, despite various communications. The Prime Minister stated that the Chairman, CDA will be advised to provide the plot to APNS. The APNS delegation also pointed out that the Ministry of Postal Services / Pakistan Post, PEPCO and National Highway Authority had released ads for enormous amount whereas their annual budgets are far less than the advertisement expenses. The Prime Minister advised the Ministry of Information to take up the matter with the concerned ministries / departments. The APNS hoped that the announcements made by the Prime Minister will bail out the crisis ridden newspaper industry and would strengthen the cordial relations between the government and the press.
KARACHI: Qingqi rickshaw drivers held a protest rally on M A Jinnah Road, against DIG Traffic after a ban on Qingqi rickshaws.-Online
said: "His (President Zardari's) role is very essential as Co-Chairman of PPP and being the President of Pakistan to forge unity in the nation and reconciliation amongst the democratic forces," he said. The Minister further added that the House appreciates his efforts in the dual offices for furtherance of democracy and strengthening of Pakistan..
KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Federation of India Chambers of Commerce and Industry (FICCI) have mutually decided to extend the Presidentship of India Pakistan Chamber of Commerce & Industry (IPCCI) resting with S M Muneer from Pakistan for another term. S M Muneer is the third President of IPCCI since its establishment under a MoU between FPCCCI and FICCI in April 1999. S M Muneer who is a leading and prominent businessmen and industrialist has expressed his confidence that IPCCI will chalk out extensive program of activities for the next term for promotion of bilateral trade and economic relations which will ultimately benefit the business community of both the countries who are willing to come closer than ever and open new avenues for promotion of bilateral trade and economic relations.-Online
3
Thursday, January 13, 2011
Euro up against USD; Spain debt auction awaited
Top Economic Events Time 0:00 4:50 5:30 5:30 14:30 14:30 17:00 17:00 17:45 18:30 18:30
Markets hopeful of boost to euro-zone lending fund NEW YORK: The euro rose for a third day against the US dollar on Wednesday but gains were expected to be short-lived after a Portuguese debt sale did little to quell fears that some of the indebted euro-zone countries will struggle to meet their funding needs for the year. Lisbon's debt auction saw healthy demand and the average yield at the 10year sale fell compared to a previous one in November, confounding expectations that rates would top 7.0 per cent for the first time in the history of the euro-zone. Attention now turns to Spain and Italy, who will sell debt on Thursday in auctions that will also be closely watched for any sign of contagion. Analysts expect the sales to pass off without a major hitch, albeit at elevated costs.
The euro was last traded 0.4 per cent higher at $1.3025, after having risen as high as $1.3047 on trading platform EBS. Traders still expect the euro to retest its four-month low around $1.2860 set on Monday, with a break likely opening the door to a decline towards $1.2645 and $1.2590 in the coming weeks. Near-term support lies at around $1.2794, the 61.8 Fibonacci per cent retracement of its rally from June to November. Resistance is at around $1.3071, the 200-day moving average. Also bolstering the euro were comments from euro-zone sources that
finance ministers are likely to consider next week raising the effective lending capacity of the currency bloc's rescue
fund as part of efforts to calm jittery markets. This follows Japan's promise to support an upcoming bond sale by the fund, the European Financial Stability Facility. Analysts said the Portuguese auction results would do little to change the view that Lisbon will continue to strug-
Asian currencies
Rupiah stabilises; Taiwan dollar climbs Thai baht supported ahead of rate decision SINGAPORE: The Indonesian rupiah was little changed versus the dollar on Wednesday, stabilising after a recent sell-off, and the Taiwan dollar hit a 13-year high, with both currencies supported by foreign fund inflows. Traders said dollar-selling intervention by Indonesia's central bank also helped lend support to the rupiah, which has come under pressure this month as investors booked profits after a strong rally last year. The Taiwan dollar rose on the back of foreign fund inflows into the equity market, while the Thai baht rose ahead of a rate decision by its central bank. The Taiwan dollar hit a 13-
year high against the dollar, as more foreign money flew into the stock market. George Chou, deputy governor of Taiwan's central bank, told Reuters exporters should hedge against a Taiwan dollar appreciation, indicating the local currency may rise further. The Taiwan dollar hit a 13year high T$29.056 to the dollar. After trimming some gains, the Taiwan dollar stood at T$29.100 compared to Tuesday's close of T$29.700. Indonesia's central bank sold dollars against the rupiah early on Wednesday, and the dollar's broad weakness also lent support to the rupiah.
The dollar was little changed against the rupiah at 9,045. The dollar edged up 0.4 per cent against the rupiah in January as investors covered their short dollar positions to book profits in the wake of the dollar's 4.4 per cent slide against the rupiah last year. The baht rose against the dollar, supported by market expectations of the central bank raising interest rates later on Wednesday. Most analysts polled by Reuters expect the Bank of Thailand to raise interest rates by 25 basis points to 2.25 per cent at its policy decision. Reuters
Pound near 1-mth high on sovereign buying
Swiss franc slips vs euro
LONDON: Sterling rose towards a one-month high against the dollar on Wednesday as steady buying from Asian sovereign accounts helped to offset the impact from data which showed Britain's trade deficit widenening to record levels. Britain's trade gap widened to 8.736 billion pounds in November from an upwardly revised 8.591 billion pounds in October. Imports of oil and air-
craft pushed the trade deficit to its biggest since monthly records began in January 1980, contrasting with expectations for a modest narrowing. "Those numbers took out a bit of steam from sterling, but overall it remains resilient," said Michael Hewson, markets analyst at CMC. "If you strip out the one-off items (in the trade data) there is room for improvement." The data drove sterling lower against the dollar, before it regained ground to trade at $1.5652, up 0.24 per cent for the day. It hit a one-month high of
$1.5681--its highest since December 15 -- just before the trade data was released. Traders said buying in the pound/yen cross also supported sterling. The euro edged up against the pound to 83.26 pence, drawing support from a robust response to bond auctions from Portugal. But investors are bearish about the pair with the single currency likely to come under more pres-
sure, as concerns about euro-zone peripheral debt problems mount and drive many to unwind long positions in the euro/pound pair. The euro had fallen to a fourmonth low of 82.85 pence on Jan.10 with some expecting the pair to test 82 pence in the near term. The BOE started a twoday meeting on Wednesday and rising inflation expectations are likely to dominate the Monetary Policy Committee meeting. The decision will be announced on Thursday, although there is very little chance of a rate increase. Reuters
ZURICH: The Swiss franc traded lower against the euro in thin trading on Wednesday, extending losses from the previous two sessions as traders focused on a debt sale by highly indebted euro-zone member Portugal later in the day. The single currency has firmed this week following reports the region's finance ministers could consider raising the effective lending capacity of the currency bloc's rescue fund as it attempts to calm jittery markets. Support for the euro has also arrived from Japan and China, which have both suggested in recent days they could buy into troubled euro-zone bond sales. The franc had hit a series of record highs against the euro in recent weeks as concerns grew about whether debt-laden Portugal, Spain and Italy could refinance their debt loads at a sustainable cost but has eased from its Dec. 30 peak of 1.24 francs to the euro. The franc fell 0.4 per cent against the euro compared to the New York close, trading at 1.2685 francs per euro at 0752 GMT. The franc was also lower against the dollar, falling 0.1 per cent to 0.9748 francs per dollar. -Reuters
Aussie off 1-mth low, pins hopes on jobs data SYDNEY/WELLINGTON: The Australian dollar plumbed one-month lows on Wednesday on worries about the nation's damaging floods, but regained some ground after upbeat data caught the market short, a risk that looms large ahead of the employment data. Due at 0030 GMT on Thursday, the closely watched labour report is expected to show an increase of 25,000 jobs in December. Employment has sped past all expectations last year, rising at a breakneck pace of 402,500 in a potential labour force of just 12 million. "Investors are likely aware of this, and this could lead to a bit of an AUD short squeeze into tomorrow's data release," said Barclays Capital analysts. The Aussie was last at $0.9846, having earlier fallen to $0.9803 after a Reserve Bank of Australia (RBA) board member, Warwick McKibbin, said the floods could cost up to 1 percentage point of GDP, the most bearish estimate yet. The comment reinforced expectations the RBA was now unlikely to raise interest rates again for months to come, and perhaps not at all this year. Interbank futures imply almost no probability of
a move before July and just a 50-50 chance by October. But the currency then staged a come-back to hit a session high of $0.9867 after data showed home loans rose by the most in six months in November while job vacancies were up 26 per cent in the year to November. The Aussie has fallen some 4 per cent from a 28year peak around $1.0250 set on Dec. 31, making it one of the worst performers so far this year. This followed a stellar 2010, where it rose 14 per cent. It also fell on Wednesday against the euro, which touched one-week highs at A$1.3226, while the Canadian dollar reached its best level since September at A$1.0301. The Aussie also underperformed the New Zealand dollar, falling to six-week lows at NZ$1.2909, before drifting back up to NZ$1.2967. The kiwi was a touch lower against the greenback, having escaped much of the drama engulfing the Aussie. It last traded at $0.7594, after drifting between $0.7582 and $0.7607, well within Tuesday's trading range. -Reuters
gle to fund itself and may have to turn to the European Union an International Monetary Fund for a bailout. The European Central Bank meets on Thursday and investors will closely watch if the bank signals further steps to help ease pressure on peripheral bonds. Against the yen, the euro was up 0.5 per cent at 108.48 yen. The dollar rose 0.2 per cent to 83.37 yen. The Australian dollar hit a fresh onemonth low around $0.9777, though option triggers at $0.98 and upbeat Australian housing data helped it pare losses. Mounting worries that massive floods in northeast Australia could hamper growth were taking a toll on the Aussie, knocking it further from a 28-year high around $1.0250 set on Dec. 31. Reuters
Yuan ends higher on Hu’s US trip SHANGHAI: The yuan ended up vs the dollar on Wednesday as the People's Bank of China set its reference rate at a record high, kicking off a new leg of appreciation for the yuan ahead of President Hu Jintao's visit to the United States. But the central bank was apparently careful not to fan excessive hopes of how much the yuan can appreciate as it did not let the yuan's mid-point breach the psychologically important 6.60 against the dollar, with traders citing concerns over capital inflows as one of the key factors. The market took the cue from the PBOC fixing, from which the yuan can rise or fall 0.5 per cent in a given day. Spot yuan traded below the crucial level and traders stayed wary of re-visiting 6.5896 hit on Dec. 31 last year, which is its highest rate against the dollar since the yuan's landmark revaluation in July 2005. The latest set of data published by the PBOC on Tuesday showed capital inflows picked up in December from November. The "Position for Forex Purchases" showed the central bank and Chinese institutions spent 403.3 billion yuan ($61 bil-
lion) to absorb foreign exchange flowing into China in December, up from 319.6 billion yuan in November. Still, many dealers expect the yuan to rise decisively above 6.60 before the end of Hu's state visit to the United States on Jan. 1821. Spot yuan closed at 6.6038 versus the dollar, up from Tuesday's close of 6.6200 after the PBOC set the currency's mid-point at 6.6128, up from Tuesday's 6.6216. It has risen 3.37 per cent since it was depegged from the dollar in mid-June 2010. During Hu's visit, the United States would state that it wanted a "real, demonstrative commitment" from China that it was serious about shifting away from export-led economic growth, a US official told Reuters on Tuesday. Non-deliverable dollar/yuan forwards (NDFs) fell nearly across the curve to imply slightly more yuan rise as the offshore market responded to the strengthening spot yuan. Three-month NDFs fell to 6.5450 from Tuesday's 6.5510, implying yuan appreciation in three months' time of 1.04 per cent from 0.94 per cent. -Reuters
Indian rupee up, seen ranged on low $ inflows MUMBAI: The Indian rupee flip-flopped tailing the local stock market before closing stronger on Wednesday amid mixed factors including sharply low November industrial output data, rate hike worries, capital inflows and importer dollar demand. "There are no other triggers now apart from the stock market for the rupee. We can't see too much of (dollar) inflows, we expect stocks to come under pressure again," said Ashtosh Raina, head of forex trading at HDFC Bank in Mumbai. The partially convertible rupee ended at 45.13/14 per dollar, after touching 45.2050 immediately after industrial data. It closed at 45.1625/1725 on Tuesday. Early in the session, the rupee had risen to 45.06, its highest since Jan. 4. "The outlook for portfolio inflows, however, is clouded by both global and local uncertainties. Despite the outflows witnessed at the beginning of 2011, it is too early to rule out a revival of investor confidence," Standard Chartered said in a note. Foreign funds are net sellers of $498.12 million worth shares this
year till Tuesday, after having purchased stocks worth a record $29.3 billion in 2010. Also, mild dollar inflows into equity market along with global dollar weakness on one hand and importer dollar demand on the other, kept the rupee in a range, dealers said. HDFC Bank's Raina expects the rupee to move in 44.80-45.60 band in the short term. With the rupee now closely following the domestic stock market, forex dealers will wait for the December inflation number due on Friday for direction cues. India's wholesale price index in December probably rose 8.35 per cent from a year earlier, accelerating from November's 12-month low of 7.48 per cent, a Reuters poll showed. -Reuters
Source USD JPY AUD AUD GBP GBP GBP GBP EUR CAD USD
Events Federal Budget Balance Core Machinery Orders m/m Employment Change Unemployment Rate Manufacturing Production m/m Industrial Production m/m Asset Purchase Facility Official Bank Rate Minimum Bid Rate Trade Balance PPI m/m
Forecast Previous -81.1B -150.4B 2.1% -1.4% 25.2K 54.6K 5.1% 5.2% 0.5% 0.6% 0.5% -0.2% 200B 200B 0.50% 0.50% 1.00% 1.00% -2.0B -1.7B 0.8% 0.8%
Previous Day Source
Events
JPY JPY GBP USD JPY GBP EUR
Bank Lending y/y Current Account BRC Shop Price Index y/y IBD/TIPP Economic Optimism Economy Watchers Sentiment Trade Balance Industrial Production m/m
Actual
Forecast
-1.9% 1.15T 2.1% 51.9 45.1 -8.7B 1.2%
Previous
-2.0% 1.46T 2.0% 45.8 43.6 -8.6B 0.7%
0.99T 47.1 44.9 -8.2B 0.5%
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3039 1.3044 0.9715 0.9758 1.5673 1.5678 0.9859 0.9908 0.9912 0.9929 108.7000 108.7000 0.8327 0.8338 1.2670 1.2692 130.6000 130.6500 85.8400 85.9100 0.9731 0.9763 1379.9300 1387.0000 29.2200 29.1600
Bid 1.3037 0.9713 1.5669 0.9855 0.9909 108.6600 0.8323 1.2666 130.5500 85.7900 0.9724 1379.3000 29.1400
Low 1.2961 0.9696 1.5586 0.9850 0.9808 107.8500 0.8306 1.2584 129.6400 85.1300 0.9627 1378.5100 28.3400
London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 12/01/2011 A USD GBP CAD EUR JPY O/N 0.24000 0.55813 0.92833 0.33375 SN 0.09375 1WK 0.25438 0.57063 1.00000 0.50125 0.102880 2WK 0.25656 0.57563 1.04250 0.55625 0.109380 1MO 0.26125 0.59563 1.09667 0.68938 0.120630 2MO 0.28250 0.65313 1.15083 0.80500 0.150000 3MO 0.30313 0.76688 1.24000 0.93125 0.188500 4MO 0.34500 0.84938 1.31500 0.99875 0.243130 5MO 0.40125 0.95438 1.37333 1.08188 0.300000 6MO 0.45681 1.06375 1.44833 1.17500 0.347500 7MO 0.51000 1.14038 1.51167 1.22688 0.397500 8MO 0.56313 1.22375 1.58917 1.28063 0.443130 9MO 0.61781 1.30563 1.65500 1.32938 0.487500 10MO 0.66969 1.38500 1.73667 1.38063 0.514380 11MO 0.72469 1.45250 1.82333 1.42313 0.540000 12MO 0.78375 1.51938 1.90333 1.46375 0.567500
Major Central Banks Overview Central Bank Bank of England European Central Bank Swiss National Bank The Reserve Bank of Australia Bank of Canada Federal Reserve Bank of Japan
Next Meeting
Last Change
January 13, 2011 January 13, 2011 March 17, 2011 February 1, 2011 n/a n/a n/a
March 5, 2009 May 7, 2009 March 12, 2009 November 2, 2010 September 8, 2010 December 16, 2008 December 19, 2008
Current Interest Rate 0.50% 1% 0.25% 4.75% 1% 0.25% 0.10%
Division of National Bank of Pakistan (NBP) KARACHI, January 12,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.85 134.27 111.64 86.86 88.16 84.61 12.59 1.03 14.44 66.45 14.98 22.89 11.04 12.99 304.17 28.03 65.19 23.59 23.37 0.08 2.82
85.65 133.96 111.38 86.66 87.95 84.41 12.56 1.03 14.41 66.29 14.95 22.84 11.02 12.96 303.47 27.97 65.04 23.53 23.32 0.08 2.82
85.460 133.650 111.130 86.430 87.720 84.190 12.530 1.027 14.370 66.120 14.910 22.780 10.990 12.930 302.670 27.890 64.870 23.470 23.260 0.076 2.810
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 12, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.25 12.70 12.75 13.00 13.28 13.40 13.45 13.55 13.70 14.10 14.22 14.24 14.25 14.25 14.26 14.26 14.24 14.28 14.55 14.70
12.30 12.60 12.80 12.90 13.23 13.30 13.45 13.54 13.72 14.00 14.21 14.23 14.23 14.35 14.37 14.25 14.15 14.26 14.60 14.75
12.30 12.65 12.85 12.95 13.30 13.36 13.50 13.60 13.78 14.00 14.23 14.24 14.26 14.35 14.37 14.24 14.15 14.27 14.55 14.75
12.20 12.60 12.80 13.08 13.25 13.40 13.50 13.70 13.78 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.25 14.65 14.90
12.40 12.50 12.60 13.00 13.22 13.25 13.30 13.45 13.65 13.95 14.25 14.22 14.23 14.30 14.35 14.25 14.20 14.25 14.55 14.75
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 12.30 12.60 12.85 13.10 13.25 13.35 13.45 13.55 13.75 14.00 14.25 14.25 14.28 14.30 14.35 14.40 14.15 14.26 14.70 14.90
12.29 12.61 12.78 13.01 13.26 13.34 13.44 13.57 13.73 14.01 14.23 14.24 14.25 14.31 14.33 14.28 14.17 14.26 14.60 14.79
Currencies Correlation GBP/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY
week month months months year years
0.37 -0.33 -0.02 0.51 0.65 0.53
-0.23 0.73 0.81 0.50 -0.15 0.15
0.01 -0.28 0.37 0.52 0.11 -0.12
EUR/USD NZD/USD
-0.13 0.61 0.83 0.69 0.14 0.44
0.14 0.44 0.80 0.82 0.77 0.80
USD/CAD USD/CHF
0.57 0.00 0.65 0.65 0.70 0.58
-0.18 0.01 0.14 -0.48 -0.25 -0.46
-0.31 0.32 0.26 -0.37 -0.76 -0.66
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)12/01/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN 12.10
12.60
12.40
12.90
12.65
13.10
13.15
13.40
13.45
13.70
13.55
14.05
13.60
14.10
13.70
14.20
JSBL
12.25
12.75
12.50
13.00
12.80
13.30
13.25
13.50
13.45
13.70
13.50
14.00
13.70
14.20
13.80
14.30
ASPK 12.25 CIPK
ABPL
ASK
12.75
12.50
13.00
12.70
13.20
13.20
13.45
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
12.30
12.80
12.45
12.95
12.70
13.20
13.30
13.55
13.50
13.75
13.60
14.10
13.75
14.25
14.00
14.50
DBPK 12.10
12.60
12.30
12.80
12.50
13.00
13.10
13.35
13.25
13.50
13.45
13.95
13.50
14.00
13.60
14.10
FBPK 12.25
12.75
12.50
13.00
12.80
13.30
13.30
13.55
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
FLAH 12.20
12.70
12.50
13.00
12.75
13.25
13.25
13.50
13.45
13.70
13.55
14.05
13.65
14.15
13.70
14.25
HBPK 12.10
12.60
12.35
12.85
12.70
13.20
13.25
13.50
13.40
13.65
13.50
14.00
13.65
14.15
13.70
14.25
HKBP 12.25
12.75
12.45
12.95
12.70
13.20
13.20
13.45
13.40
13.65
13.50
14.00
13.60
14.10
13.70
14.20
NIPK
12.50
13.00
12.85
13.35
13.10
13.60
13.50
13.75
13.60
13.85
13.70
14.20
13.80
14.30
13.90
14.40
HMBP 12.10
12.60
12.40
12.90
12.85
13.35
13.25
13.50
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
SAMB 12.10
12.60
12.50
13.00
12.80
13.30
13.30
13.55
13.50
13.75
13.50
14.00
13.65
14.15
13.75
14.25
MCBK 12.25
12.75
12.50
13.00
12.60
13.10
13.25
13.50
13.40
13.65
13.50
14.00
13.60
14.10
13.75
14.25
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
SCPK 12.00
12.50
12.35
12.85
12.60
13.10
13.10
13.35
13.25
13.50
13.45
13.95
13.50
14.00
13.70
14.20
UBPL 12.25
12.75
12.50
13.00
12.65
13.15
13.20
13.45
13.40
13.65
13.50
14.00
13.70
14.20
13.70
14.20
AVE
12.69
12.47
12.97
12.72
13.22
13.24
13.49
13.42
13.67
13.51
14.01
13.65
14.15
13.73
14.23
NBPK
12.19
4 Thursday, January 13, 2011
Minority Matters
The Financial Daily International Vol 4, Issue 152
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board S. Muneer Hussain Rizvi
Haseeb Khan, FCA Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Let city of lights run, shine Over the last few days something seems to have gone grossly wrong bringing the curse of gas load shedding to Karachi, Pakistan's largest metropolis. As per the latest communiquĂŠ of SSGC it has increased supply of gas to KESC to 50mmcfd from 30mmcfd. It also claims that since the two companies shave not entered into any new gas purchase agreement, SSGC is meeting its contractual obligation. However, it is on record that till recently KESC was getting around 300mmcfd gas. Such huge quantity of gas was supplied on the instruction of government, which never wanted eruption of any energy related riots in Karachi. The move was also aimed at allowing the new strategic buyers to overcome the teething problems. Curtailment of supply and drop in gas pressure has already started taking a toll on industrial units as well as CNG filling stations. This, on one hand, will affect industrial production and on the other inflate country's oil import bill. Karachi has the largest number of industrial units as well as vehicles that ply on its roads. Therefore, it is feared that if the issue is not resolved on top priority it could have serious repercussion for the city having a population of around 20 million which is also the hub of industrial and commercial activities. To begin with it is difficult to find a plausible reason for sudden drop in gas availability with SSGC. According to some conspiracy theories gas availability may have fallen due to diversion to SNGPL, facing the worst shortfall during this winter. If this is the reason then government should have not kept it a secret. People linked to SSGC have big hearts and are willing to share the woes of people from other provinces. However, they have the right to ask the policy planners, were they not aware of the emerging shortfall and why they didn't take timely measures. Their apathy has put all the Pakistani's under pain. Experts have been saying from day one that gas crisis is not due to demand surpassing supply but due to gross mismanagement. At present the country faces a short fall of around 900mmcfd, as against a shortfall of 500mmcfd faced last year. This clearly shows that no measures were taken to bring the newly discovered fields online, for the reasons best known to those on the helm of affairs. Since gas supply cannot be increased overnight only one option is available, ask KESC to run its Bin Qasim power plant on furnace oil and let the federal and government bear the cost differential. Since this involves paying billions of rupees subsidy, it also becomes the responsibility of consumers to contain wastages and bring down electricity and gas consumption to the lowest levels. It is an emergency situation and each consumer will have to play its role to minimise the adverse impact on the economy.
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.
T
o understand why Pakistani Christians feel so threatened by growing Muslim extremism in their country, speak to the uniformed police guard at the jail where a Christian woman is on death row, accused of blasphemy. Aasia Bibi, a mother of four, was sentenced to hang in November for allegedly committing an act of sacrilege, under Pakistan's controversial blasphemy laws. Last week, an outspoken liberal politician was killed by his own bodyguard for campaigning for her release. The assassin has since been hailed as a hero by many in Muslim majority country where a harsh, often unforgiving, brand of Islam is growing in strength. Prison guard Ansaar Jameel, at the Sheikhpura prison where Bibi is held, summed up widespread sentiment after the killing of Punjab province governor Salman Taseer: "What happened was justified." Taseer's death -- and the lionising of his killer -- have struck more fear than ever in the mostly Catholic and Protestant Christian community accounting for about two per cent of the population of 170 million. The self-confessed assassin, Mumtaz Qadri, has been showered with rose petals after court appearances. Hundreds of lawyers have offered to defend him for free. These are troubling signals that religious extremism has permeated much of Pakistan, a nuclear-armed ally the United States sees as indispensable in its war on global militancy. "If a bodyguard can kill a governor, a high profile person, a famous person here in Pakistan, the governor of Punjab Salman Taseer, what can hap-
pen to me?," asked Christian activist Shahzad Kamran, who provides moral, legal and financial support for people convicted of violating the blasphemy law. Kamran has stopped visiting Bibi in jail for fear of his life. "Anybody, anybody can kill me with the same allegation as Salman Taseer was confronting," he said. VILLAGERS ISSUE THEIR
“
fessed to insulting Islam. The only thing that's clear is her troubles began with a dispute with fellow women farmhands who later accused her of blasphemy. "If she returned I would beat her to death with anything I could get my hands on," said Inayatullah, a 65-yearold man with fiery green eyes and a white beard. A group of people gathered around him, including a 14-year-
Taseer's death -- and the lionising of his killer -- have struck more fear than ever in the mostly Catholic and Protestant Christian community accounting for about two per cent of the population of 170 million
OWN VERDICT Pakistan's modern Christians are the children of Hindus or Muslims converted by missionaries who came to the Indian subcontinent some 250 years ago. Christians and Muslims generally live in harmony, but many say they are treat as second-class citizens and feel insecure for several reasons, including the blasphemy law and sporadic militant attacks on churches. Under the law, anyone convicted of speaking ill of Islam or the Prophet Muhammad(PBUH) faces life imprisonment or the death penalty. Bodyguard Qadri and his supporters accused Taseer of being a blasphemer, simply because he spoke against the law. While Muslims are charged with blasphemy in more than 50 per cent of cases, human rights activists say the legislation is often used to persecute minorities, or settle personal scores -as Aasia Bibi claims happened to her. Fury at Bibi in her village, Ittanwali, seems based on hearsay that she con-
old boy, agreed she should die. Bibi and her family are the only Christians in the Ittanwali, a village of mud huts surrounded by sugarcane fields and orange orchards. Families burn cow dung for fuel and the place is mired in poverty and is a microcosm of the social and economic neglect that make Pakistan unstable. Poor services discredit the government, which is deeply unpopular, and make people more susceptible to the preachings of the hardline clerics. Countrywide illiteracy rates of over 50 per cent mean these extremists wield huge power over the people. Sitting inside the mudbrick walls of the family's housing compound where goats graze, Bibi's sister-in-law Farhad says clerics began announcing that "Christians are dogs" after Bibi's arrest. So far, their Muslim neighbours have not created any problems, but that could change given the charged atmosphere after Taseer's death. Either way, she says the family is
trapped. "Where can we run away to? Where can we flee? We have left it all to his (God's) mercy. He will do whatever is best for us," said Farhad. With the assassination of the governor, Christians know they have lost a rare defender. Inside Lahore's grand Sacred Heart cathedral, the archbishop of the eastern city, Lawrence Saldanha, asked worshipers at Sunday mass to pray for Taseer's soul and asked God to give Christians the strength to practice their faith. He told Reuters that political leadership pandered to influential religious Islamist parties for support in the deeply conservative country, a common accusation. "They try to get into politics by using religion in the wrong way, (a) very narrow interpretation of Islam," he told Reuters. That policy is unlikely to change anytime soon. The deeply unpopular government needs all the support it can get. Frustrations are growing over rising inflation, power cuts and suicide bombings staged by Taliban militants. Country's Christians can only hope Taseer's killing will not encourage more violence against them. In 2009, 40 houses and a church were set ablaze by a mob of 1,000 Muslims in the town of Gojra, Punjab. At least seven Christians were burnt to death. The attacks were triggered by reports of the desecration of the Holy Quran. Back in Ittanwali, cleric Maqsood Ahmed Masoomi suggested that if anyone in the village commits blasphemy, they may not make it to the courtroom."They should be killed on the spot," he said.-Reuters
A War Naps for Now S
anctions and possible sabotage may be slowing Iran's nuclear drive, reducing the risk that Israel might resort to military strikes against the Islamic Republic's atomic sites any time soon. Technical glitches and other hurdles for Iran's uranium enrichment programme are also creating more room for maneuver for diplomatic efforts by major powers to persuade Tehran to curb work the West fears is aimed at making bombs. "There is a feeling that the sanctions and also some of the covert action are buying time, more time than many previously expected," a senior Western diplomat said. Oliver Thraenert, senior fellow at the German Institute for International and Security Affairs, said: "I do believe people are a bit more relaxed now ... the technical problems the Iranians have are much more severe than expected." This is likely to reduce the persistent speculation in recent years that Iran's foes, especially Israel but also the United States, could soon use military action to prevent the major oil producer from acquiring nuclear weapons. Israel, which bombed an Iraqi reactor in 1981 and a suspected Syrian nuclear site in 2007, sees a nuclear-armed Iran as a threat to its existence and has indicated it could use force to prevent it developing such weapons. But Israeli intelligence assessments published last week said the Jewish state now believed Iran would not be able to produce a nuclear weapon before 2015 and that a top Israeli official had counselled against pre-emptive military action.
It signalled new confidence in US-led sanctions and other measures designed to discourage or delay Iran's nuclear work. "Israel appears no less willing to contemplate military action against Iran to prevent it from obtaining nuclear weapons," Greg Thielmann, a senior fellow at the Washington-based Arms Control Association, said. "However, there has been a dramatic change recently in statements from Israeli officials about the timeline they project for Iran to achieve a nuclear weapons capability." WAR DRUM STOPPED BEATING? US-based journalist Jeffrey Goldberg, who wrote about the "coming confrontation" between Iran and Israel in an Atlantic magazine article last year, said one Israeli official now puts the chances of an Israeli strike on Iran in the next year at below 20 per cent. "And he was one of the Israelis who felt, in the spring of last year, that it would be necessary for Israel to attack Iran's nuclear facilities by the end of 2011," Goldberg wrote in a blog this week. Washington has not ruled out armed action against Iran, even though US officials have warned that it would only delay its nuclear programme and that persuading Tehran to give up its activities was the only viable long-term solution. But the US Secretary of State Hillary Clinton said on Monday that sanctions had set back Tehran's nuclear work, giving major powers more time to persuade it to change tack. Shannon Kile at the Stockholm International Peace Research Institute
said the "war drum was really beating" about a year ago, but this no longer seemed to be the case. But any reduction in tension and lessening of talk of possible military conflict, with possible dire consequences for the world economy, could turn out to be temporary. "There definitely has been sort of a deescalation of the situation," Kile said. But, he added, "I don't see that as being necessarily something more permanent or lasting." Iran is still amassing refined uranium - material which can be used to make bombs if enriched much further -- and it is showing no sign of backing down in the long-running international dispute over its atomic ambitions. "Technical difficulties and sanctions should not lead anyone to think we are near a solution," said Alireza Nader, an Iran specialist at the RAND Corporation. "Iran may be motivated more than ever to develop the nuclear programme, especially since the ruling elite believe that backing down would send precisely the wrong signal to the United States and its allies." IRANIAN NUCLEAR "BREAKTHROUGH" Analysts say Iran's nuclear work has been experiencing technical difficulties for several years, partly because it is using enrichment centrifuges adapted from a smuggled 1970s European design which is prone to overheating and vibration. Iran is testing an advanced, more durable model able to refine uranium two or three times faster, and says it intends to introduce it for production in
the near future. But the sanctions, which ban trade in nuclear-related technology and equipment, may make this more difficult. Signs of foreign sabotage, such as the Stuxnet computer worm which some experts believe was aimed at Iran's enrichment activities, could also be a factor. In addition, Iran has blamed the West and Israel for the killing of two nuclear scientists last year, a charge Washington has rejected as "absurd". The US-based think-tank, the Institute for Science and International Security, said in an analysis that "overt and covert disruption activities have had significant effect in slowing Iran's centrifuge programme." Iran rejects any suggestions that it is experiencing significant technical woes and last week announced a new "breakthrough" in its nuclear programme, saying it would make its own fuel for a research reactor later this year. Western officials say tougher sanctions imposed on Iran since last year are hurting its economy and that this may force it to enter serious nuclear talks with six world powers -- the United States, Russia, Germany, France, Britain and China. But no substantial progress was made when talks resumed in Geneva last month, for the first time in more than a year, and expectations of a breakthrough are low ahead of a second round in Istanbul next week. "Sanctions will not force Iran to capitulate," Thielmann said. "It is also clear that negotiations will be a drawn-out and difficult process, requiring many months."-Reuters
Gulf Going to Rails G
ulf Arab states are spending more than $100 billion on rail projects across the region as they tackle poor public transports networks and growing populations. The six oil and gas producers of the Gulf Cooperation Council (GCC) seek to create a similar model to Europe's highspeed rail system, with plans to extend the estimated 1,940 kilometre network even to Yemen in the South of the Arabian peninsula and link it by 2017. Following is an overview of the different projects: SAUDI ARABIA Saudi Arabia is spending an estimated $25 billion on its rail network, adding 3,900 km of tracks through three major projects. The so-called Saudi Landbridge project includes a 950 km line between capital Riyadh and the Red Sea port of Jeddah, as well as a 115 km link between the industrial city of Jubail and Dammam, the oil hub on the Gulf coast. Another project is the North South Railway linking Riyadh via Qassim, Hail, Al-Jawf, to Al-Haditha, with branches to Ras Al-Zour and Jubail to bauxite and phosphate mines. The line will be mainly used for minerals, but general freight and passenger transport is also planned. The high-speed Haramain Railway project will link Islam's holiest cities Mecca and Medina to the Red Sea coastal city of Jeddah, a key entry point for mil-
lions of pilgrims, to relieve traffic congestion on the roads. German transport group Deutsche Bahn, Italy's Astaldi and British firm WS Atkins form parts of six consortiums bidding to build four stations along the 450 km railway. China Railway Construction Corp said in November it expected to lose about 4.15 billion yuan ($623 million) on the metro light rail for pilgrims. UNITED ARAB EMIRATES UAE's Union Railway plans a $11 billion and 1,500 km railway project across the UAE estimated by 2017. The project will be phased over several years. In the end, the railway will connect the UAE to Saudi Arabia via Ghweifat city in the West and Oman via Al Ain in the East. The network will integrate the oil and natural gas hub of Ras Laffan in the north with the refinery town of Mesaieed in the south, and a high-speed link between the new Doha international airport and the city's centre. Construction will run until 2026, which includes freight, passenger trains and a metro. A long-planned $3 billion bridge linking Qatar with Bahrain has been put on hold and the project team scaled back, sources close to the project said, amid escalating costs and increased political tension. The 40-kilometre causeway linking gas
exporter Qatar to the island kingdom of Bahrain was set to play a key role in improving infrastructure connections between GCC members. Qatar also wants to build a bridge connection to neighbour Saudi Arabia via a 40 km causeway - one of the world's longest - to Bahrain. But the long-planned $3 billion bridge been put on hold and the project team scaled back, sources close to the project said in June. BAHRAIN Bahrain said in 2009 it would study a $8 billion railway project stretching over 184 km, including a mix of light rail trains, monorails, trams and other systems. But these investments were part of plans to link Bahrain and Qatar with a bridge, a project which is stalled due to political tensions between the two neighbours. OMAN The non-OPEC member's 500 km railway system will connect ports, airports and free zones and is expected to generate a revenue of about $250 million in its first year operation, a finance ministry official said. The project is expected to be completed in 2017 and the government plans to award construction projects in three phases. It will build a passenger and freight service, which will make part of the regional link. Possible extensions into the capital Muscat via a metro system are
also considered. Transport and rail companies such as Bechtel, SNCF, China Railway and Hyundai have shown interest in the prequalification bids for contracts. KUWAIT Kuwait said in 2008 it was planning an $11 billion rail network that will include a metro system for its capital. A 245 km line will run from the northern border with Iraq to Saudi Arabia in the south, with links to airport and sea port, the Kuwait Overland Transport Union said. In Kuwait City, where traffic clogs roads in rush hours, a four-line, 171 km metro is planned costing 1.3 billion dinars. Construction was initially scheduled to start in 2009 for completion in 2017. YEMEN Yemen said last year it would launch a $3.5 billion rail project as part of plans to upgrade infrastructure in the war-torn country. The 2,500 km passenger and cargo network will run from the Saudi border along the Yemeni coast, passing through the main port of Aden, to Oman, where it will join the network linking the six GCC countries. The government had said bidding for the main 2,000 km coastal line had started in July 2010 and that it was in talks with several railway firms to build the tracks.-Reuters
5
Thursday, January 13, 2011
South East Asian stocks
European shares hit 28-mth high; banks surge
Mostly higher; Indonesia leads regional rebound
KSE-100 Index Opening Closing Change % Change Turnover (mn)
Die-hard foreign interest, earning hopes buoy KSE
12,267.21 12,281.24 14.03 0.11 143.16
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,780.15 3,843.67 63.52 1.68 4.70
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,085.14 3,055.54 29.60 0.96 0.23
Nawaz Ali
Major Gainers
Symbol
Close
Change
ULEVER 4,416.17 RMPL 2,078.98 APL 365.02 INDU 274.55 MCB 238.68
155.92 27.96 17.38 13.07 10.10
Major Losers
Close
Change
NESTLE 2,455.10 IDYM 227.70 CPL 195.11 PECO 188.93 EXIDE 203.19
Symbol
-13.9 -11.98 -10.26 -6.56 -5.78
Top 5 Volume Leaders
Symbol DGKC FFBL LOTPTA ENGRO MCB
Close Vol (mn) 30.33 39.19 14.54 205.25 238.68
16.55 15.48 13.55 5.00 4.94
Active Issues Plus Minus Unchanged
194 197 28
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
JAKARTA: Brokers monitor the trading in Mandiri Sekuritas, a brokerage firm in the Bank Mandiri building.-Reuters
KSE launches ‘Over The Counter Market’ KARACHI: The Karachi Stock Exchange (KSE) has launched Over-The-Counter (OTC) Market through listing of first ever Privately Placed Commercial Papers (CP) of Rs1 billion of Engro Fertilisers Limited on the Exchange, said a handout issued here Wednesday. The statement said the CP will be listed on the Exchange with effect from Monday, January 17, 2011 and trading will take place from Tuesday, January 18, 2011 i.e. one day after the date of formal listing as required under the Regulations. The purpose of OTC Market
is to provide investors an efficient and transparent source of investment, beside encouraging the promoter to set up new industries or expand the existing enterprises by raising funds in a cost-effective manner in a listing regime where requirements are less stringent, it said. The statement added that KSE endeavours to develop healthy, efficient and transparent OTC Market in line with the international standards, which plays a pivotal role in the efficient working of the global financial system and in generating the economic growth of the countries across the world.-PR
Nikkei flat but better after hitting 8-mth top TOKYO: The Nikkei average ended flat on Wednesday, backing away from an eight-month high hit early as traders locked in profits, but sentiment remains strong as upbeat US earnings and a softer yen spurred foreign investors to buy up financial and property shares. Earnings reports from US companies including homebuilder Lennar and store chain Sears Holdings beat expectations, bolstering hopes that the world's No.1 economy is on a sustainable recovery path. The Nikkei, while sharply underperforming other major indexes in 2010, has added 15 per cent since the start of November, with foreign investors net buyers of Tokyo stocks in the week to Jan. 1 for a ninth straight week. "Investors took profits on early morning gains, as the market started very strongly
because more foreign investors began piling in," said Mitsuo Shimizu, deputy general manager at Cosmo Securities. "But sentiment is very strong as foreign investors buy back undervalued domestic demandrelated stocks," he added. The benchmark Nikkei ended the most active trading day of the new year up 0.02 per cent or 2.12 points at 10,512.80, after rising early in the session to 10,576.51, its highest intraday level since May 13, 2010. The broader Topix added 0.3 per cent to 929.64. In comparison to the Nikkei's 15 per cent gain since November, the Dow Jones Industrial Average has added 5 per cent and the FTSE has risen 5.6 per cent. Around 2.5 billion shares changed hands on the Tokyo Stock Exchange's first section, the highest since Dec. 10 and See # 11 Page 11
US stocks late-morning
Wall Street relishes on lenders gains NEW YORK: US stocks rose on Wednesday after a healthy bond sale in Portugal helped ease concern over the latest sovereign debt crisis to crop up in Europe and signs of strength in the US banking sector. European shares rallied, led by banks, on hopes euro-zone finance ministers would beef up the European Union's rescue fund and after Portugal sold 1.25 billion euros ($1.62 billion) to strong demand. The European debt crisis and future strength in US banks "are probably the two big stories" for equities markets, according to Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago. The euro gained 0.7 per cent against the dollar. JPMorgan Chase & Co climbed 2.2 per cent to $44.54 to lead the KBW bank index .BKX, up 1.5 per cent. JPMorgan Chief Executive Jamie Dimon said the bank could pay an annual dividend of 75 cents to a dollar once the Federal Reserve gives its approval, pending the completion of stress tests. "The news from JPMorgan starts to bring some clarity into that issue and remind the market these companies are ultimately going to be good dividend payers, further restoring confidence," said Kuby. Also fueling gains among financials were positive comments on the sector from Wells Fargo, which raised the US bank sector to an "overweight" rating, citing a decline in credit costs and positive loan growth. The Dow Jones industrial average gained 88.93 points, or See # 10 Page 11
HSBC lifts HK shares; Shanghai follows suit HONG KONG/SHANGHAI: Hong Kong stocks extended gains on Wednesday as a surge index heavyweight HSBC helped push the benchmark past some short-term technical resistance levels. China's key stock index closed 0.6 per cent higher in thin volume, underpinned by strength in airline and property issues. The Hang Seng Index closed 1.5 per cent higher, bringing its gains since the start of the year to 4.7 per cent. "HSBC has been trying to break out above $83 for the past week, and looks like it is finally succeeding," said Patrick Lee, a trading strategist at Daiwa Capital in Hong Kong. "If the decisive break happens, this should push the HSI to close above 23,900." Shares of HSBC Holdings , known locally as the "big ele-
phant" because of its mammoth 15 per cent weighting on the benchmark index, rose 3.7 per cent on over 4 times its average 30-day traded volume. The bank's shares have underperformed the Hang Seng Index for two years in a row, with 2010's near 11 per cent decline, falling short of a mild 5.3 per cent advance for the index. Citigroup, which upgraded HSBC shares to "buy" from "hold", expects HSBC's new management to raise dividends in coming years and sees the bank as a key beneficiary in the development of the offshore yuan market. In a sign that Beijing is increasingly promoting the use of the Chinese currency in major financial centres, Bank of China has offered yuan trading to US customers. Shares of the state-owned bank rose 1.7
per cent. The benchmark Shanghai Composite Index rose 0.6 per cent to 2,821.3 points, extending a 0.4 per cent rise on Tuesday. It remains above the 125-day moving average, now at 2,771.8, a level which is expected to provide support in the near term. Trading was lacklustre, with investors shying away from making big bets ahead of December economic data, including China's inflation, due on Jan. 20 and ahead of the Lunar New Year holiday, which starts on Feb. 2. "Before investors get a clear (policy) direction, they will be very cautious. The low volume says it all." said Xu Yinghui, a senior analyst at Guotai Junan Securities. Turnover hit a two-week low of 88 billion yuan ($13.3 billion). -Reuters
KARACHI: Karachi Stock Exchange (KSE) ended tad higher on Wednesday owing to buying in banking, fertiliser, and cement stocks spurred by high hopes pinned on earnings and offshore interest which analysts say would die hard. The benchmark KSE 100Index increased by 14 points to close at 12,281 points while KSE 30-Index gained 65 points and KSE All-Share index rose by 7 points to close at 12,014 and 8,523 points respectively. "It was a pre-resultannouncements rally", said Ahsan Mehanti, Director Arif Habib Investments. Foreign interest continued despite institutional profit-taking and concerns over rising CPI inflation & fiscal deficits, he added. According to NCCPL data foreign investors did a net-buying of $5.77 million.
The day started on a bullish note with 14 plus points, green numbers then increased due to buying mostly in banking and cement stocks on hopes of some strong corporate results of the major companies. Therefore index touched an intra-day high of 12,348 points (+ve 81 points). The December ending corporate earnings of the bluechip companies are due to be announced in the coming weeks. Though market stayed in the positive zone during the major part of the day but some profittaking at higher levels by the local investors knocked index down for a couple of times where it touched the lowest level of the day at 12,230 points (-ve 37 points). However due to continued foreign interest, market managed to recover and close the session on a positive note.
Indian shares snap 6-day fall; banks up MUMBAI: Indian shares snapped a six-session losing streak, shrugging off slowerthan expected growth in industrial output, as they rebounded 1.8 per cent on Wednesday, lifted by firm world equities. Financials led the gains. "The correction we saw in the last few days was very acute. Most negatives seem to be already priced in," said Shashank Khade, executive vice president of portfolio management services at Kotak Securities. "Hence, the lowerthan-expected IIP (index of industrial production) data also didn't impact much." The 30share BSE index rose 1.76 per cent, or 337.76 points, to
19,534.10 points, with 22 of its components closing in the green. Annual industrial output in Asia's third-largest economy grew at its slowest in 18 months in November. The weak growth came during the end of the festive season in India, when many factories close during the Diwali holiday. The low number may also be due to a high base effect from the period in the previous year. All eyes are now on the quarterly earnings parade, which kick starts on Thursday. "World markets performed well today, helping the sentiment here. Let's see how earnings pan out now and what surprises See # 8 Page 11
ANNOUNCEMENTS Company Quice Food Nadeem TextileXD
Period Yearly 1st Qtr
Div/Bon/Right -
PAT (Rs in mn) 4.717 182.35
EPS(Rs) 0.44 15.18
Volumes too remained on the higher side as 143.1 million shares traded during the day which is 23.1 million more than a turnover of 120 million shares a day earlier. It is worth mentioning that the oil giant OGDC remained under pressure for the third day by losing Rs2.91 on Wednesday. An expert revealed this loss was an upshot of offloading by a local private bank along with institutional investors and a leading broker . DG Khan Cement stood as the volume leader with 16.55 million shares followed by Fauji Fertiliser Bin Qasim with 15.48 million shares and Lotte Pakistan with 13.55 million shares. Active issues, however, showed a neutral trend as out of total 419 active issues 197 declined and 194 advanced while 28 issues remained unchanged.
FTSE at 31-month closing high LONDON: Britain's top share index hit a 31-month closing high on Wednesday, boosted by banks after a successful bond sale in Portugal eased investor concerns over Europe's sovereign debt crisis, and as miners tracked metals prices higher. The FTSE 100 ended up 36.69 points, or 0.6 per cent, at 6,050.72, its highest close since early June 2008, finishing in positive territory for the second day in a row. Banks added the most points to the blue chip index, as risk appetites returned to the market after Portugal sold 1.249 billion euros ($1.62 billion) in two bond maturities to strong demand, taking some pressure off the indebted country to seek a bailout. See # 9 Page 11
Dhiyan
A CONSOLIDATION MIX Sajid Bhanji, VP Capital Markets Arif Habib Limited Market would consolidate at 12,200-12,300 level in the coming days. Thus focus on the result season and foreign activity as these would renew the bullrun in the market. However, foreign outflow and an increase in key interest rate in the upcoming monetary policy could hit the morale and the market both. Invest in E&P stocks followed by the stocks of banking and fertiliser sectors. Market would remain in the consolidation mode today.
Khurram Schehzad, Head of Research Invest Cap Rangebound activities are likely to continue in the market due to absence of a trigger. However the result announcements by bluechip companies would revive the bullish activities where companies belonging to oil, fertiliser, and banking sectors are expected to announce good corporate results. Park money in oil, fertiliser, and cement stocks. Market would show mixed performance today.
6
Thursday, January 13, 2011
Market Volume
143,155,385
Value
9,447,290,685
Trades
84,940
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
194 197 28 419
All Share Index
12,281.24 12,350.76 12,229.73 h14.03
Current High Low Change
KSE 30 Index
8,523.72 8,573.40 8,494.28 h7.37
Current High Low Change
KMI 30 Index Current High Low Change
12,014.57 12,081.75 11,948.97 h65.6
19,880.67 19,982.04 19,829.45 h51.22
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,601.55 Turnover 15,302,429 P/E (x) 11.49 Company
KSE 100 Index
Symbols
PE
Attock Petroleum 691 6.32 Attock Refinery 853 7.78 BYCO Petroleum 3921 Mari Gas Company 735 17.45 National Refinery 800 4.61 Oil & Gas Development 43009 11.58 Pak Petroleum 11950 8.99 Pak Oilfields 2365 7.73 Pak Refinery Limited 350 P.S.O 1715 4.97 Shell Gas LPG 226 Shell Pakistan 685 10.52
Open 347.64 135.77 11.56 129.44 302.84 174.04 223.02 326.61 106.22 292.70 32.98 206.89
High 365.02 139.70 11.70 131.00 315.80 174.85 225.20 332.39 111.00 296.99 33.00 208.00
High Low 1,619.69 1,580.70 Total cos Defaulter cos P/BV (x) ROE (%) 3.74 32.54 Low 349.50 134.60 11.47 128.52 304.00 170.00 220.60 326.50 107.00 292.50 32.89 205.00
Close Chg 365.02 138.87 11.53 128.80 311.18 171.13 221.09 327.44 107.25 293.73 32.89 205.19
17.38 3.10 -0.03 -0.64 8.34 -2.91 -1.93 0.83 1.03 1.03 -0.09 -1.70
Close Change 1,590.91 -10.64 Listed cap Market cap 65,194.15 mn 1,222,548.64 mn Payout (%) Div Yield (%) 55.94 4.87 Last 60 days High Low
Volume 887346 4802896 698873 110526 456440 2188374 1952363 2719867 179466 1929381 184 75586
374.20 139.70 12.49 136.48 315.80 185.00 228.88 332.39 114.50 300.53 40.28 209.89
287.99 86.40 10.46 111.00 203.00 147.40 181.44 231.01 66.23 262.00 30.21 182.05
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
% Change -0.66 5-Day High 1,628.77 5-Day Low 1,590.91 2011 Div BR (%) (%)
20B - 15.00 20B -
-
CHEMICALS
Open 717.09 Turnover 8,639 P/E (x) 5.53 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
PE 6.93 39.03
Open 69.02 36.64
High 70.00 36.49
High Low 724.29 711.32 Total cos Defaulter cos P/BV (x) ROE (%) 1.41 25.53 Low 69.00 35.30
Close Chg 69.30 0.28 35.91 -0.73
Close 716.27 Listed cap 3,242.17 mn Payout (%) 11.08
Volume 5231 3408
Change -0.82 Market cap 12,560.46 mn Div Yield (%) 2.00
Last 60 days High Low 77.77 40.42
60.05 32.36
Company
Company
Paid up Cap(mn)
High Low 1,516.82 1,482.94 Total cos Defaulter cos P/BV (x) ROE (%) 3.23 35.00
PE
Open
High
Low
Close Chg
Agritech Limited 3924 8.21 Bawany Air 68 68.25 Biafo Ind 200 5.30 BOC (Pak) 250 13.74 Clariant Pak 273 7.46 Dawood Hercules 1203 8.31 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.28 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.90 Fauji Fert.Bin Qasim 9341 7.39 Gatron Ind 384 2.58 Ghani Gases Ltd 725 9.55 ICI Pakistan 1388 8.64 Lotte Pakistan 15142 5.19 Mandviwala 74 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 10.16 Sitara Peroxide 551 14.67 United Distributors 92 Wah-Noble 90 7.64
23.84 7.67 51.00 100.27 205.37 201.21 3.25 8.51 3.16 11.00 208.26 15.31 11.67 135.91 38.42 46.97 12.64 151.05 14.52 1.74 1.99 2.33 122.00 13.39 10.05 37.82
22.80 8.66 48.81 101.97 209.98 203.99 3.35 8.69 3.30 11.20 210.99 15.38 11.79 137.70 39.51 49.31 12.95 154.90 14.79 2.45 2.09 2.45 125.00 13.60 10.30 39.71
22.65 7.80 48.75 99.85 195.11 200.12 3.11 8.31 3.11 11.00 203.26 15.00 11.39 136.20 38.49 44.95 12.60 150.55 14.49 1.52 1.90 2.34 122.10 13.33 9.20 38.75
22.65 -1.19 8.19 0.52 48.75 -2.25 100.00 -0.27 195.11-10.26 200.43 -0.78 3.16 -0.09 8.41 -0.10 3.16 0.00 11.15 0.15 205.25 -3.01 15.05 -0.26 11.66 -0.01 136.59 0.68 39.19 0.77 48.00 1.03 12.60 -0.04 153.31 2.26 14.54 0.02 1.61 -0.13 1.93 -0.06 2.35 0.02 124.00 2.00 13.50 0.11 9.75 -0.30 39.71 1.89
Close 1,493.57 Listed cap 52,251.88 mn Payout (%) 48.81
Change -0.03 Market cap 336,342.62 mn Div Yield (%) 5.29
Last 60 days High Low
Volume 45671 1208 800 3693 137969 43022 62789 54873 963629 1046 4998873 419718 3614839 1731688 15481424 225 50750 685160 13554166 64363 398683 4614 1412 73890 40000 30898
24.85 11.50 59.20 103.94 209.98 204.98 3.74 9.25 4.24 13.79 210.99 15.87 11.80 137.70 39.51 49.31 13.07 154.90 15.04 2.50 2.74 3.40 139.40 14.69 11.75 43.75
20.26 7.16 36.10 73.10 149.72 165.73 2.10 3.92 1.32 9.15 174.65 12.90 9.16 106.01 29.00 38.03 11.00 121.00 8.82 0.80 1.35 1.80 101.00 8.30 8.51 32.00
2010 Div BR (%) (%) 5 45 15 40 15 40 95 17.5 20 55 25 50
% Change 0.00 5-Day High 1,493.60 5-Day Low 1,446.54 2011 Div BR (%) (%)
10R - 12.50 5B -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,235.13 Turnover 106,722 P/E (x) 6.28 Company
High Low 1,245.96 1,212.29 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47
Close 1,227.44 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.81 6.94
19.00 45.70 44.80
19.30 45.80 45.00
18.42 44.51 44.40
18.60 -0.40 45.80 0.10 44.96 0.16
100557 102 6063
Century Paper Pak Paper Product Security Paper
Change -7.69 Market cap 3,401.57 mn Div Yield (%) 4.03
Last 60 days High Low 19.69 48.90 47.70
15.28 38.75 38.00
2010 Div BR (%) (%) 2533.33B 50 -
% Change -0.62 5-Day High 1,239.71 5-Day Low 1,226.02
Paid up Cap(mn)
High Low 1,273.14 1,218.30 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 25.35
PE
Open
High
Low
Agriautos Ind 144 5.83 Atlas Battery 101 5.86 Atlas Honda 626 9.88 Baluchistan Wheels Ltd. 133 6.20 Dewan Motors 890 Exide (PAK) 56 4.80 General Tyre 598 21.55 Ghandhara Nissan 450 3.51 Honda Atlas Cars 1428 Indus Motors 786 6.27 Pak Suzuki 823 11.28 Sazgar Engineering 150 4.04
77.00 193.38 132.00 31.50 2.31 208.97 25.72 4.86 11.30 261.48 71.97 21.14
77.70 197.50 136.50 33.00 2.35 206.99 25.27 5.24 12.15 274.55 73.00 21.69
76.00 194.01 125.51 33.00 2.25 200.15 25.00 4.90 11.63 262.00 69.05 20.13
Company Adam Sugar AL-Noor Sugar Bawany Sugar Chashma Sugar Clover Pakistan Dewan Sugar Faran Sugar Fecto Sugar Habib SugarSPOT Habib-ADM Ltd J D W Sugar Mehran SugarSPOT Mirpurkhas Sugar Mirza Sugar Mithchells Fruit National Foods Noon Pakistan Noon Sugar Pangrio Sugar Premier Sugar Quice Food S S Oil Sanghar SugarSPOT Shahmurad Sugar Shahtaj Sugar Shakarganj Mills Sind AbadgarSPOT Tandlianwala Thal Industries UniLever Pakistan Wazir Ali
Paid up Cap(mn) 58 186 87 287 94 365 217 146 600 200 490 143 84 141 50 414 48 165 109 38 107 57 119 211 120 695 104 1177 150 665 80
PE
Close Chg
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
Open
High
Low
565 4.22 675 555 9.70 1199 11.73 785 11.08
26.63 2.60 15.70 57.75 9.60
27.25 2.67 15.79 58.75 10.00
26.76 2.55 15.50 56.00 9.50
Close Chg 26.99 2.55 15.52 56.28 9.75
0.36 -0.05 -0.18 -1.47 0.15
Close 1,060.80 Listed cap 3,596.11 mn Payout (%) 30.91
Change -10.96 Market cap 10,321.95 mn Div Yield (%) 9.12
Close 1,263.13 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change 31.46 Market cap 46,292.20 mn Div Yield (%) 4.53
Last 60 days High Low
Volume 68005 11395 7129 84490 1952
28.45 3.39 16.51 62.20 10.70
24.00 2.00 12.50 44.00 8.00
2010 Div BR (%) (%) 30 40 7.5
20B -
Company
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement
High Low 1,001.52 979.65 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 7.10
PE
Open
High
Low
1828 866 6.58 858 182 956 24.09 982 13.46 3891 3651 126.38 6933 14.91 502 3.67 1760 77 2319 1288 13126 3234 6.71 5261 1.29 2228 200 361 798 437.00
3.12 62.93 2.70 21.70 10.60 1.71 2.13 29.92 4.98 7.35 1.77 1.62 7.87 6.47 3.21 74.10 2.79 6.95 7.00 8.10 17.14
3.70 62.58 2.80 21.80 10.60 1.88 2.22 30.47 5.06 7.05 1.80 1.80 7.50 6.59 3.29 74.84 2.80 7.07 7.20 8.50 17.60
3.00 62.01 2.30 21.10 10.55 1.64 2.09 29.65 4.90 7.00 1.72 1.55 7.02 6.40 3.18 73.60 2.74 6.90 7.00 8.35 17.26
Close 993.61 Listed cap 54,792.74 mn Payout (%) 19.04
Last 60 days High Low
Close Chg
Volume
Last 60 days High Low
3.10 62.48 2.43 21.44 10.60 1.75 2.13 30.33 4.92 7.05 1.77 1.56 7.50 6.41 3.20 74.68 2.77 7.02 7.00 8.50 17.48
39382 43010 11716 48649 10800 3510 121331 16549873 537483 15780 45568 7105 184 2941 1687936 836052 222823 123152 3349 900 400500
3.98 65.99 4.24 24.16 12.75 2.49 3.10 32.10 5.55 8.20 2.25 5.00 9.19 8.70 3.79 79.98 3.30 8.58 7.50 9.60 22.24
-0.02 -0.45 -0.27 -0.26 0.00 0.04 0.00 0.41 -0.06 -0.30 0.00 -0.06 -0.37 -0.06 -0.01 0.58 -0.02 0.07 0.00 0.40 0.34
2.80 57.60 1.10 14.51 10.00 1.31 1.40 25.20 4.72 4.80 1.60 1.18 2.70 5.80 2.79 69.20 2.66 6.52 5.25 6.30 17.02
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
% Change 0.23 5-Day High 1,004.70 5-Day Low 991.31 2011 Div BR (%) (%) -
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,049.84 Turnover 255,372 P/E (x) 2.92 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass Merit Pack Packages Ltd Siemens Engineering Tri-Pack Films
PE
Open
High
High Low 1,069.29 1,039.97 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91 Low
Close Chg
115 2.80 79.26 80.49 78.55 78.66 230 2.77 2.88 2.61 2.71 1067 5.00 51.91 54.50 51.50 54.42 47 56.25 22.00 22.75 22.50 22.50 844 65.96 130.30 131.85 128.00 128.63 82 10.07 1225.00 1238.00 1220.00 1220.40 300 9.27 127.10 128.30 126.60 127.10
-0.60 -0.06 2.51 0.50 -1.67 -4.60 0.00
Close 1,052.34 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 95646 56096 39002 300 37996 126 26200
Change 2.50 Market cap 39,566.58 mn Div Yield (%) 5.32
Last 60 days High Low 83.23 34.00 3.30 1.82 54.50 45.30 25.90 15.10 136.74 101.00 1381.00 1128.00 129.90 100.00
2010 Div BR (%) (%) 20 25 900 -
25B 10B -
% Change 0.24 5-Day High 1,052.34 5-Day Low 1,037.97 2011 Div BR (%) (%) -
-
INDUSTRIAL ENGINEERING Performance of SR Industrial Engineering Index Open 1,549.21 Turnover 440,046 P/E (x) 8.48 Company
Paid up Cap(mn)
Ados Pak AL-Ghazi Tractor Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB Pak Engineering
High Low 1,587.81 1,544.18 Total cos Defaulter cos P/BV (x) ROE (%) 3.22 38.02
Close 1,564.47 Listed cap 1,336.62 mn Payout (%) 131.49
PE
Open
High
Low
Close Chg
Volume
66 1.03 215 5.66 214 213 12.16 124 132 7.13 366 6.95 57 524.81
16.71 236.10 1.26 12.77 124.12 61.63 523.60 195.49
16.50 237.50 1.45 13.50 128.00 61.50 537.49 201.99
16.00 235.00 1.21 12.65 127.01 58.55 524.11 185.72
16.03 -0.68 236.49 0.39 1.27 0.01 13.13 0.36 127.02 2.90 59.55 -2.08 531.16 7.56 188.93 -6.56
19850 10235 33365 197906 531 15558 161793 808
Change 15.26 Market cap 33,958.68 mn Div Yield (%) 15.50
Last 60 days High Low 18.20 240.00 2.40 14.80 147.89 78.90 537.49 324.80
14.12 200.00 0.21 10.55 114.01 58.55 443.00 185.72
2010 Div BR (%) (%) 150 650 100
25B -
65.75 140.01 94.65 29.12 1.20 142.90 21.00 4.12 10.51 220.50 66.75 17.92
Low
Close Chg
Close 1,695.79 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
2010 Div BR (%) (%) 90 100 25 60 20 150 10
2011 Div BR (%) (%)
20B 20B
Change 25.87 Market cap 228,682.09 mn Div Yield (%) 0.79
Last 60 days High Low
5002 20.50 12.25 7650 53.02 41.00 2009 6.73 1.21 19164 15.47 8.50 771 78.40 46.15 3705 5.59 1.25 8697 21.73 19.00 239 55.00 39.00 344172 36.50 29.00 7021 13.10 11.69 25173 92.50 69.00 6796 68.49 50.50 7045 68.22 48.11 1812 7.18 4.20 1201 89.90 61.50 969 75.50 39.01 3424 27.30 17.51 9902 14.84 9.00 4657 6.99 4.25 944 53.81 34.29 41000 3.20 2.02 10000 3.89 3.00 57997 15.00 13.00 27143 13.50 9.85 1937 100.26 56.01 24136 7.88 4.06 108 11.20 4.75 2791 37.80 28.88 731 98.70 59.11 455 4610.00 3876.00 101 8.89 4.75
High Low 1,141.68 1,116.11 Total cos Defaulter cos P/BV (x) ROE (%) 0.34 10.64
Close 1,127.50 Listed cap 3,763.71 mn Payout (%) 6.27
Open
High
Low
Close Chg
Volume
134 3.60 1174 3.66 341 22.87 231 2.50
35.20 14.68 19.60 21.24
33.44 14.75 20.48 21.25
33.44 14.50 20.00 20.90
33.44 -1.76 14.52 -0.16 20.35 0.75 20.92 -0.32
101 38847 2749 12005
-
-
% Change 1.55 5-Day High 1,695.79 5-Day Low 1,669.92
2010 Div BR (%) (%)
2011 Div BR (%) (%)
25 50 10 15 25 25 25B 40 7010B 12.5R 35 20B 15 20B 10 40 12 12 10 10 15 10 10 15 178 -
-
-
Change -2.94 Market cap 5,240.54 mn Div Yield (%) 1.94
% Change -0.26 5-Day High 1,160.62 5-Day Low 1,127.50
Last 60 days High Low
2010 Div BR (%) (%)
40.00 15.62 20.79 21.40
-20B 20R - 10B 17.5 -
23.00 12.90 16.51 15.90
2011 Div BR (%) (%) -
-
Performance of SR Personal Goods Index Open 1,009.91 Turnover 7,075,410 P/E (x) 7.22 Paid up Cap(mn)
Amtex Limited Artistic Denim Aruj Garments Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute Crescent Textile D S Ind Ltd Dawood Lawrencepur Dewan Mushtaq Textile Fatima Enter Gadoon Textile XD Ghazi Fabrics Gulshan Spinning H M Ismail Hajra Textile Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile J K Spinning Janana D Mal Jubilee Spinning Kohat Textile Kohinoor Ind Kohinoor Mills Kohinoor Spinning Kohinoor Textile Leather Up Liberty Mills Mohd Farooq Moonlite (PAK) Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Ravi Textile Redco Textile Saif Textile Sally Textile Salman Noman Sana Ind Sapphire Textile Sargoda Spinning Saritow Spinning Service Ind Shahtaj Textile Shield Corp Suraj Cotton Thal Limited Treet Corp Tri-Star Poly Zil Limited
2594 840 62 133 4493 33 76 76 1150 316 2442 238 492 600 514 34 142 234 326 222 120 138 716 3105 180 184 43 325 208 303 509 1300 1455 60 226 189 22 145 1596 3516 560 174 250 213 264 88 42 55 201 312 133 120 97 39 180 307 418 215 53
High Low 1,019.27 1,001.01 Total cos Defaulter cos P/BV (x) ROE (%) 0.62 8.64
PE
Open
High
Low
9.27 6.44 3.04 0.36 0.54 0.51 5.31 35.66 3.67 4.08 51.14 0.15 0.44 0.76 0.74 0.91 0.74 3.62 3.86 0.93 0.28 0.53 0.34 3.57 2.26 3.30 1.93 5.84 3.28 0.73 0.36 0.21 2.41 3.57 0.88 0.47 0.32 7.86 11.14 0.90 5.41 9.53 3.57
4.13 23.27 4.65 2.66 9.38 12.35 13.45 638.28 3.10 941.00 2.32 1.06 22.33 1.65 43.48 4.11 13.30 68.75 4.45 7.30 0.87 0.59 3.98 46.14 3.50 6.10 16.00 2.30 1.00 1.51 2.12 1.25 5.14 1.82 61.75 1.11 12.01 0.50 23.57 68.09 10.10 10.25 1.50 0.60 4.56 4.20 6.00 45.33 109.00 2.65 1.75 230.97 20.00 95.24 39.25 126.04 60.54 0.71 54.15
4.23 23.99 4.50 2.66 9.57 13.35 14.44 651.49 3.20 950.00 2.40 1.37 21.30 1.82 44.99 5.11 14.30 70.75 4.50 7.50 1.09 0.60 4.14 46.40 3.65 6.10 17.00 3.30 0.99 1.66 3.10 0.93 5.60 1.90 64.83 1.33 13.01 0.50 23.70 69.00 10.33 10.20 1.50 0.60 4.69 4.30 5.99 46.95 104.04 2.50 2.50 232.20 19.42 90.48 40.00 128.30 61.00 0.69 55.50
4.05 22.71 4.25 1.86 9.36 13.20 13.75 633.00 3.06 911.21 2.16 1.05 21.22 1.64 42.52 4.70 14.30 67.50 4.50 7.30 0.60 0.59 3.90 45.50 3.55 6.05 17.00 3.25 0.99 1.51 2.05 0.92 4.99 1.90 58.67 1.14 13.00 0.40 23.19 67.92 9.66 10.00 1.44 0.60 4.50 4.25 5.00 45.06 104.00 2.25 1.81 229.15 19.40 90.48 39.80 126.50 59.80 0.52 53.15
Close Chg 4.08 23.19 4.50 2.58 9.38 13.35 14.40 640.00 3.11 950.00 2.35 1.05 21.22 1.70 43.47 5.05 14.30 69.64 4.50 7.50 0.61 0.59 3.92 45.99 3.55 6.10 17.00 3.25 0.99 1.64 2.05 0.93 5.00 1.90 62.88 1.33 13.01 0.47 23.26 68.04 9.70 10.00 1.50 0.60 4.51 4.28 5.68 46.95 104.04 2.45 1.96 229.70 19.41 90.48 40.00 126.61 59.87 0.68 53.34
-0.05 -0.08 -0.15 -0.08 0.00 1.00 0.95 1.72 0.01 9.00 0.03 -0.01 -1.11 0.05 -0.01 0.94 1.00 0.89 0.05 0.20 -0.26 0.00 -0.06 -0.15 0.05 0.00 1.00 0.95 -0.01 0.13 -0.07 -0.32 -0.14 0.08 1.13 0.22 1.00 -0.03 -0.31 -0.05 -0.40 -0.25 0.00 0.00 -0.05 0.08 -0.32 1.62 -4.96 -0.20 0.21 -1.27 -0.59 -4.76 0.75 0.57 -0.67 -0.03 -0.81
Close 1,007.46 Listed cap 47,070.70 mn Payout (%) 16.68
Volume 271489 6362 7001 3952 1252866 41158 71440 725 42383 134 17404 174535 784 16104 597 182 500 18579 699 101 497 500 55354 146339 4000 6350 6150 1079 1810 607 3002 1000 200534 1076 1101 6800 5501 3000 912282 3408232 42305 1002 3120 5000 7000 2040 13890 201 15055 304 164673 3406 200 199 17926 36573 61996 5439 2110
Change -2.45 Market cap 137,097.30 mn Div Yield (%) 2.31
Last 60 days High Low 11.85 24.59 5.50 3.45 12.32 17.85 14.50 747.48 3.90 965.00 3.33 1.38 23.99 2.37 47.00 7.44 14.30 71.40 5.05 10.30 1.39 1.10 4.88 47.50 4.45 9.50 19.40 5.50 1.50 2.00 3.72 2.00 5.97 3.00 66.05 2.08 13.01 0.95 25.14 69.49 10.50 11.25 1.99 1.45 6.85 5.75 6.00 48.95 109.00 3.43 2.99 276.50 21.90 96.49 40.00 132.00 63.30 1.50 58.99
4.00 19.10 4.10 1.32 9.20 8.10 10.82 446.00 2.94 723.00 2.16 0.16 17.89 1.52 36.10 1.80 9.25 38.30 2.55 6.30 0.39 0.30 3.35 34.05 2.60 4.05 13.25 2.30 0.51 1.10 1.52 0.16 4.82 1.10 55.00 0.50 4.50 0.14 17.96 49.11 5.25 8.00 1.26 0.55 3.10 3.57 2.01 28.40 89.80 1.50 1.00 169.00 15.61 43.29 29.00 86.50 37.50 0.42 36.00
% Change -0.24 5-Day High 1,013.09 5-Day Low 1,007.46
2010 Div BR (%) (%) 30 20 7.5 20 15 5 70 10 10 10 20 10 20 5 30 15 25 10 10 60 50 5 45 10 50 80 35
15B 20B 5B 45R 10B 5B 20B -
2011 Div BR (%) (%) -
-
PHARMA AND BIO TECH
1.84
Total Equity (Rs in mn)
688.56
MA (100-day)
1.78
Revenue (Rs in mn)
292.79
MA (200-day)
1.78
Interest Expense
3,148.11
123.89
1st Support
1.81
Profit after Taxation
377.68
2nd Support
1.75
EPS 10 (Rs)
6.028
1st Resistance
1.96
Book value / share (Rs)
10.99
2nd Resistance
2.05
PE 11 E (x)
0.69
Pivot
1.90
PBV (x)
0.18
FDIBL closed up 0.12 at 1.93. Volume was 129 per cent above average and Bollinger Bands were 46 per cent narrower than normal. The company's profit after taxation stood at Rs43.733 million which translates into an Earning Per Share of Rs0.70 for the 1st quarter of current fiscal year (1QFY11). FDIBL is currently 8.6 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into FDIBL (mildly bullish). Trend forecasting oscillators are currently bearish on FDIBL.
Saritow Spinning Mills Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
45.17
Total Assets (Rs in mn)
MA (10-day)
1.96
Total Equity (Rs in mn)
MA (100-day)
2.21
Revenue (Rs in mn)
520.47
MA (200-day)
2.04
Interest Expense
1st Support
1.70
Profit after Taxation
48.15
2nd Support
1.41
EPS 10 (Rs)
3.627
1st Resistance
2.39
Book value / share (Rs)
3.82
2nd Resistance
2.79
PE 11 E (x)
0.32
Pivot
2.10
PBV (x)
0.51
50.76 716.58 39.64
SSML closed up 0.21 at 1.96. Volume was 1,742 per cent above average (trending) and Bollinger Bands were 18 per cent wider than normal. The company's profit after taxation stood at Rs20.226 million which translates into an Earning Per Share of Rs1.52 for the 1st quarter of current fiscal year (1QFY11). SSML is currently 4.8 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 SSML at a relatively equal pace. Trend forecasting oscillators are currently bearish on SSML.
Ghandhara Industries Limited
Open 980.58 Turnover 45,290 P/E (x) 7.27 Company Abbott (Lab) GlaxoSmithKline Highnoon (Lab) Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 1707 165 96 306
PE
Open
9.38 108.02 15.18 84.34 8.22 29.70 11.34 140.25 5.58 61.50
High
High Low 988.76 976.28 Total cos Defaulter cos P/BV (x) ROE (%) 1.62 22.31 Low
Close Chg
108.75 107.00 107.04 -0.98 84.99 84.25 84.38 0.04 29.75 28.95 29.66 -0.04 142.50 142.49 142.50 2.25 62.40 61.00 62.05 0.55
Close 979.88 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 9592 1402 2455 101 31712
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
68.40
Total Assets (Rs in mn)
MA (10-day)
12.02
Total Equity (Rs in mn)
MA (100-day)
13.26
Revenue (Rs in mn)
MA (200-day)
14.36
Interest Expense
2,832.00
1st Support
12.70
Profit after Taxation
2nd Support
12.25
EPS 10 (Rs)
6.363
1st Resistance
13.55
Book value / share (Rs)
10.45
2nd Resistance
13.95
PE 11 E (x)
12.16
Pivot
13.10
PBV (x)
222.64 2,086.52 57.78 135.56
1.26
GHNI closed up 0.36 at 13.13. Volume was 419 per cent above average (trending) and Bollinger Bands were 21 per cent narrower than normal. The company's profit after taxation stood at Rs5.766 million which translates into an Earning Per Share of Rs0.27 for the 1st quarter of current fiscal year (1QFY11). GHNI is currently 8.6 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into GHNI (bullish). Trend forecasting oscillators are currently bullish on GHNI.
Crescent Jute Products Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
55.48
Total Assets (Rs in mn)
1,287.92
MA (10-day)
0.96
Total Equity (Rs in mn)
(132.33)
MA (100-day)
0.87
Revenue (Rs in mn)
MA (200-day)
1.07
Interest Expense
1st Support
0.93
Loss after Taxation
(82.76)
2nd Support
0.83
EPS 10 (Rs)
(3.483)
1st Resistance
1.25
Book value / share (Rs)
2nd Resistance
1.47
PE 11 E (x)
Pivot
1.15
PBV (x)
566.00 39.18
(5.57) (0.19)
CJPL closed down -0.01 at 1.05. Volume was 870 per cent above average (trending) and Bollinger Bands were 21 per cent narrower than normal. The company's loss after taxation stood at Rs34.802 million which translates into a Loss Per Share of Rs1.46 for the 1st quarter of current fiscal year (1QFY11). CJPL is currently 5.2 per cent below its 200-day moving average and is displaying an upward 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 CJPL at a relatively equal pace. Trend forecasting oscillators are currently bullish on CJPL.
BOOK CLOSURES Company
From
To
TRG Pakistan Shadman Cotton Mills# Kohinoor Mills# Mybank Ltd# Summit Bank# Ellcot Spinning Mills# Prosperity Weaving Mills# Mehran Sugar Mills Habib Sugar Mills Dawood Lawrencepur Lakson Tobacco Haseeb Waqas Sugar Mills Sanghar Sugar Mills Nagina Cotton Mills (TFC) Standard Chartered Bank Sindh Abadgar's Sugar Mills Shahtaj Sugar Mills Shashma Sugar Mills The Premier Sugar Mills Pangrio Sugar Mills
12-Jan 12-Jan 13-Jan 13-Jan 13-Jan 14-Jan 14-Jan 14-Jan 15-Jan 15-Jan 18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 19-Jan 20-Jan 21-Jan 21-Jan 22-Jan
20-Jan 18-Jan 20-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 29-Jan 21-Jan 25-Jan 25-Jan 31-Jan 25-Jan 01-Feb 28-Jan 01-Feb 30-Jan 30-Jan 31-Jan
D/B/R 10,10(B) 25,25(B) 10 15 10 10 10 10
Spot AGM/Date 06-Jan 07-Jan 10-Jan 11-Jan 12-Jan 14-Jan
20-Jan 18-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 21-Jan 29-Jan 21-Jan 25-Jan 25-Jan 31-Jan 25-Jan 28-Jan 27-Jan 31-Jan 31-Jan 31-Jan
INDICATIONS
Performance of SR Pharma and Bio Tech Index
2011 Div BR (%) (%) -
High
High Low 1,723.63 1,658.07 Total cos Defaulter cos P/BV (x) ROE (%) 11.70 30.30
PE
% Change 0.98 5-Day High 1,564.47 5-Day Low 1,549.21
-
77.70 197.50 143.80 36.72 2.89 217.44 25.94 5.67 13.40 282.45 77.90 26.00
PERSONAL GOODS
Company
Change 2.29 Market cap 71,044.60 mn Div Yield (%) 2.39
Paid up Cap(mn)
AL-Abid Silk Pak Elektron Singer Pak Tariq Glass Ind
CONSTRUCTION AND MATERIALS Open 991.31 Turnover 20,708,854 P/E (x) 7.96
2611 17953 2049 499 274227 290 11550 40810 175866 38901 269811 8536
MA (10-day)
HOUSEHOLD GOODS
-
Performance of SR Construction and Materials Index
Open
Open 1,130.43 Turnover 53,725 P/E (x) 3.23
2011 Div BR (%) (%) -
0.00 2.76 4.36 1.50 -0.04 -5.78 -0.72 0.19 0.42 13.07 -1.12 0.54
% Change 2.55 5-Day High 1,263.13 5-Day Low 1,224.03
Total Assets (Rs in mn)
Performance of SR Household Goods Index
-
% Change -1.02 5-Day High 1,089.97 5-Day Low 1,060.80
77.00 196.14 136.36 33.00 2.27 203.19 25.00 5.05 11.72 274.55 70.85 21.68
1.21 20.00 20.50 19.25 19.50 -0.50 3.74 50.50 52.44 50.50 51.21 0.71 5.45 6.43 5.00 5.00 -0.45 1.09 11.00 11.45 10.60 10.74 -0.26 12.11 74.72 78.40 72.55 74.11 -0.61 3.73 3.85 3.56 3.64 -0.09 4.17 20.48 21.00 20.00 20.75 0.27 - 42.99 42.00 41.00 41.00 -1.99 6.98 32.58 32.73 30.96 31.04 -1.54 11.48 12.30 12.44 12.25 12.40 0.10 3.19 87.15 90.18 87.50 89.86 2.71 3.52 58.89 59.85 58.00 59.52 0.63 4.35 53.21 53.20 50.55 52.18 -1.03 0.64 6.20 6.40 6.19 6.29 0.09 9.01 87.22 89.00 82.86 83.03 -4.19 22.50 60.07 61.00 60.30 60.30 0.23 3.51 25.67 25.89 24.45 24.60 -1.07 9.42 9.95 9.00 9.85 0.43 0.91 6.27 6.30 6.00 6.20 -0.07 4.25 45.98 46.99 43.69 43.69 -2.29 6.61 2.88 3.00 2.75 2.91 0.03 0.27 3.40 3.21 3.20 3.20 -0.20 1.29 14.49 14.55 14.00 14.46 -0.03 7.19 10.40 11.00 10.10 11.00 0.60 - 59.99 62.98 58.50 59.98 -0.01 4.97 5.90 4.80 5.40 0.43 5.36 11.10 11.15 11.15 11.15 0.05 335.09 36.00 37.80 36.85 36.86 0.86 7.45 62.22 59.20 59.11 59.11 -3.11 20.62 4260.25 4473.26 4251.02 4416.17 155.92 7.50 8.50 7.99 7.99 0.49
INDUSTRIAL METALS AND MINING High Low 1,094.00 1,052.69 Total cos Defaulter cos P/BV (x) ROE (%) 1.12 33.10
-
56.80
FOOD PRODUCERS Open 1,669.92 Turnover 627,075 P/E (x) 38.61
Performance of SR Industrial Metals and Mining Index Open 1,071.76 Turnover 172,971 P/E (x) 3.39
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
Performance of SR Food Producers Index
2011 Div BR (%) (%) -
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,493.60 Turnover 38,787,841 P/E (x) 9.23
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,231.67 Turnover 802,297 P/E (x) 4.50
First Dawood Investment Bank Ltd
% Change -0.11 5-Day High 720.63 5-Day Low 716.27
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
Last 60 days High Low 112.50 89.98 30.48 146.40 64.50
# Extraordinary General Meeting
Change -0.70 Market cap 32,871.01 mn Div Yield (%) 6.13
89.88 68.50 23.50 116.00 59.00
% Change -0.07 5-Day High 989.01 5-Day Low 979.88
2010 Div BR (%) (%) 20 30
-
2011 Div BR (%) (%) -
-
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Indus Fruit Murree Brewery Co. Shezan International Pak Tobacco Shifa Int.Hospitals Eye Television Media Times Ltd P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone
Open 53.32 3.31 1 90.5 135.06 115.85 31.64 23.3 43.23 2.4 48.15 2.43 20.4 2.01
High 55.98 3.39 2 90.75 141.81 115.9 32.69 23 45.39 2.56 49.89 2.49 21.42 2.5
Low Close 52.5 3.24 0.24 89 133 111.5 30.21 23 41.07 2.4 48.1 2.36 20.11 2
54 3.25 1.12 89.24 136.66 115.9 32.53 23 41.07 2.53 48.93 2.41 21.42 2
Change 0.68 -0.06 0.12 -1.26 1.6 0.05 0.89 -0.3 -2.16 0.13 0.78 -0.02 1.02 -0.01
Vol 8847 845343 23000 3100 313535 272 9435 2000 1236 342304 3082 401642 2146470 958
7
Thursday, January 13, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,136.93 Turnover 1,740,038 P/E (x) 6.15 Paid up Cap(mn)
Company
High Low 1,147.88 1,122.26 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
Pak Datacom 78 4.97 Pakistan Telecomm Co A 37740 12.79 Telecard 3000 0.64 WorldCall Tele 8606 Wateen Telecom Ltd 6175 -
80.00 19.32 2.18 2.64 3.52
80.50 19.49 2.20 2.70 3.55
80.00 19.12 2.12 2.52 3.42
80.50 19.19 2.16 2.55 3.52
0.50 -0.13 -0.02 -0.09 0.00
Close 1,127.55 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 3138 1024786 287378 424736 33996
Change -9.39 Market cap 78,070.21 mn Div Yield (%) 10.17
106.00 20.12 2.69 3.45 4.25
76.50 18.21 2.12 2.40 3.35
% Change -0.83 5-Day High 1,148.29 5-Day Low 1,127.55
2010 Div BR (%) (%) 80 17.5 1 -
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
204 6.58 369 6.20 279 8.89 457 6.74 1250 400 3.55 718 17.35 791 15.76 3000 42.36 350 303 6.76 252 3.93 200 -
-
Paid up Cap(mn)
PE
Open
High
Low
Genertech 198 Hub Power 11572 7.13 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 10.37 Kohinoor Power 126 2.74 Kot Addu Power 8803 5.51 Nishat Chunian Power Ltd 3673 3.73 Nishat Power Ltd 3541 28.18 S G Power 178 Sitara Energy Ltd 191 3.57 Southern Electric 1367 Tri-star Power XD 150 -
Company
0.82 38.88 1.70 3.05 18.50 4.59 44.84 16.89 17.24 1.00 19.20 2.25 0.92
0.89 38.99 1.76 3.11 18.90 4.50 45.70 17.10 17.50 1.60 19.25 2.31 0.88
0.75 38.65 1.65 2.95 18.50 4.30 44.56 16.81 17.17 1.20 19.15 2.17 0.85
Close 1,355.88 Listed cap 95,369.29 mn Payout (%) 104.13
Change 3.73 Market cap 112,100.96 mn Div Yield (%) 6.95
Close Chg
Volume
Last 60 days High Low
0.75 38.94 1.72 3.00 18.67 4.49 45.38 17.00 17.47 1.20 19.15 2.18 0.88
6536 1781455 94352 1726353 62701 2525 3267587 1879103 960510 1500 3000 289339 5000
1.45 39.49 2.25 3.55 25.25 5.50 45.70 17.50 17.75 1.69 21.85 2.80 1.75
-0.07 0.06 0.02 -0.05 0.17 -0.10 0.54 0.11 0.23 0.20 -0.05 -0.07 -0.04
0.60 33.15 1.33 2.04 17.95 4.01 38.35 11.50 12.51 0.37 17.98 2.05 0.71
% Change 0.28 5-Day High 1,355.88 5-Day Low 1,326.22
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
-
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,551.11 Turnover 363,725 P/E (x) 9.92 Company
High Low 1,580.55 1,548.92 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 11.41
Close 1,555.52 Listed cap 12,202.80 mn Payout (%) 66.79
Change 4.41 Market cap 33,285.73 mn Div Yield (%) 6.73
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.04 3.31
26.99 21.88
27.40 22.40
27.00 21.80
27.02 0.03 21.99 0.11
71694 292031
34.75 29.75
Sui North Gas Sui South Gas
25.71 19.95
% Change 0.28 5-Day High 1,570.26 5-Day Low 1,551.11
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,192.82 Turnover 23,690,211 P/E (x) 8.56 Paid up Cap(mn)
Company
PE
Open
High
Allied Bank Limited 7821 6.89 70.91 Askari Bank 6427 8.40 17.79 Bank Alfalah 13492 14.10 10.80 Bank AL-Habib 7322 8.23 38.83 Bank Of Khyber 5004 5.52 4.14 Bank Of Punjab 5288 9.42 BankIslami Pak 5280 975.00 3.84 Faysal Bank 7309 4.76 14.87 Habib Bank Ltd 10019 7.99 123.01 Habib Metropolitan Bank 8732 8.54 28.46 JS Bank Ltd 8150 2.50 KASB Bank Ltd 9509 2.46 MCB Bank Ltd 7602 10.58 228.58 Meezan Bank 6983 9.81 18.96 Mybank Ltd 5304 2.70 National Bank 13455 6.81 77.35 NIB Bank 40437 3.01 Samba Bank 14335 2.03 Silkbank Ltd 26716 2.79 Soneri Bank 6023 7.70 Stand Chart Bank 38716 12.88 8.40 Summit Bank Ltd 5000 3.59 United Bank Ltd 12242 7.94 66.51
High Low Close 1,230.11 1,187.71 1,216.39 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.19 13.94 40.49 Low
Close Chg
72.20 70.50 70.91 0.00 17.95 17.60 17.63 -0.16 11.05 10.77 11.00 0.20 39.49 37.76 38.19 -0.64 4.19 4.10 4.14 0.00 9.58 9.17 9.21 -0.21 4.00 3.66 3.90 0.06 15.00 14.70 14.77 -0.10 128.90 123.89 127.87 4.86 28.80 27.85 27.91 -0.55 2.57 2.51 2.57 0.07 2.50 2.45 2.45 -0.01 239.85 229.00 238.68 10.10 18.99 18.22 18.54 -0.42 2.93 2.65 2.67 -0.03 78.37 77.42 77.96 0.61 3.04 2.96 2.98 -0.03 2.03 1.95 2.00 -0.03 2.87 2.75 2.79 0.00 7.80 7.65 7.70 0.00 8.50 8.26 8.37 -0.03 3.74 3.62 3.74 0.15 68.00 66.50 67.55 1.04
Volume
Change 23.57 Market cap 731,232.84 mn Div Yield (%) 4.73
Last 60 days High Low
91307 72.99 692713 18.10 2376755 11.52 805447 39.49 7760 4.70 4007400 10.59 75528 4.20 147138 17.10 788687 128.90 108590 29.28 18411 3.00 26227 2.90 4938671 239.85 14207 20.30 52922 3.10 4857689 78.41 636143 3.35 121391 2.65 2036133 3.05 58494 8.48 32795 9.04 25980 4.23 1795803 70.65
52.49 14.51 8.70 31.44 2.76 8.04 2.77 13.55 98.51 19.01 2.25 2.16 193.70 14.50 1.90 63.53 2.59 1.51 2.50 5.80 6.15 2.60 52.15
% Change 1.98 5-Day High 1,216.39 5-Day Low 1,185.01
2010 Div BR (%) (%)
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 794.17 Turnover 2,741,090 P/E (x) 13.18 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 26.65
Open 90.88
High 92.99
High Low 810.72 792.59 Total cos Defaulter cos P/BV (x) ROE (%) 0.69 5.20 Low 91.50
Close Chg 91.93 1.05
Close 798.53 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 1924856
Change 4.36 Market cap 49,138.70 mn Div Yield (%) 6.04
Last 60 days High Low 92.99
65.55
% Change 0.55 5-Day High 798.53 5-Day Low 782.13
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
10.85 39.02 78.25 10.79 42.09 14.90 93.50 58.47 16.52 10.56 12.51 6.41 12.50
0.35 0.50 0.62 -0.22 -0.25 0.18 0.50 0.47 -0.05 0.56 0.01 -0.19 -0.50
11016 4912 7000 31342 108456 1502 1010 5219 189687 427961 24715 2000 1409
12.75 39.90 81.50 12.00 48.63 15.39 99.88 60.90 17.20 10.75 12.93 7.70 14.53
10.00 29.12 49.25 9.62 35.60 10.31 76.00 53.11 13.73 2.10 8.33 6.15 11.65
10 10 -
25R 10B 20B -
-
UP TO 100 VOLUME
-
Symbols NAGC GATM FASM RUPL BWCL SPLC IDYM NESTLE HUSS PGCL GUSM HWQS AGSML BAFS LAKST FNEL BTL FEROZ SCLL DIIL KSTM ISTM HADC BROT MLCFPS ELSM CSUML GAMON FDMF FNBM SLCL LMSM ASHT DREL ATFF CPMFI POAF BFMOD FIMM SIGL CWSM DSML DATM ILTM JATM MTIL LATM MUCL FZTM JOPP RMPL MACFL CSMD IDSM SHTM CSIL KOHS GAIL UPFL DKTM SJTM SHCM ZTL REWM PAKL IBLHL EMCO FUDLM ESBL
LIFE INSURANCE
Paid up Cap(mn)
Company
PE
Open
EFU Life Assurance
850 40.41
72.25
New Jub Life Insurance
627 27.99
43.50
High Low 862.29 822.45 Total cos Defaulter cos P/BV (x) ROE (%) 3.55 3.85
Close 829.67 Listed cap 2,290.72 mn Payout (%) 355.53
Change -20.25 Market cap 9,671.72 mn Div Yield (%) 3.85
Last 60 days High Low
% Change -2.38 5-Day High 861.48 5-Day Low 829.67
2010 Div BR (%) (%)
2011 Div BR (%) (%)
High
Low
Close Chg
Volume
74.50
70.25
71.13 -1.12
16737
86.95
61.02
-
-
-
-
42.95
41.65
41.70 -1.80
4301
49.31
39.95
-
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 398.11 Turnover 4,923,510 P/E (x) 11.76 Paid up Cap(mn)
Company
High Low 412.91 390.77 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91
PE
Open
High
Low
AMZ Ventures 225 1.36 Arif Habib Investments 360 3.49 Arif Habib Limited 450 13.26 Arif Habib Corp 3750 4.87 Dawood Cap Mangt. XB 150 1.43 Dawood Equities 250 First Credit & Invest Bank Ltd 650 13.54 Grays Leasing 215 IGI Investment Bank 2121 17.31 Invest and Fin Sec 600 717.00 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.69 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 7.46 JS Investment 1000 27.67 KASB Securities 1000 Orix Leasing 821 4.75 Pervez Ahmed Sec 775 Sec Inv Bank 514 14.96 Trust Inv Bank 586 2.69
0.69 17.83 25.94 26.40 1.58 1.80 3.03 1.91 2.79 7.00 0.68 3.11 1.81 10.79 3.91 28.59 6.58 4.80 6.31 1.99 4.00 1.90
0.69 18.00 26.40 26.97 1.60 2.75 3.45 2.91 2.97 7.18 0.70 3.42 1.99 11.10 4.00 28.50 6.80 4.89 6.46 2.10 4.00 2.00
0.60 17.75 25.70 26.07 1.51 1.80 3.02 1.57 2.69 6.60 0.65 3.00 1.84 10.64 3.90 27.50 6.53 4.61 6.18 1.90 3.12 1.71
Close Chg 0.60 17.75 25.98 26.50 1.60 2.10 3.25 2.10 2.77 7.17 0.70 3.02 1.93 10.78 3.99 27.74 6.64 4.71 6.46 1.93 3.74 1.72
-0.09 -0.08 0.04 0.10 0.02 0.30 0.22 0.19 -0.02 0.17 0.02 -0.09 0.12 -0.01 0.08 -0.85 0.06 -0.09 0.15 -0.06 -0.26 -0.18
Close 399.05 Listed cap 30,336.44 mn Payout (%) 99.56
Volume 24748 41710 90311 4574179 2001 865499 50002 5028 1025 142200 5542 134993 247834 3074032 67204 3503 44154 11389 1091 159762 1018 310
Change 0.94 Market cap 18,630.35 mn Div Yield (%) 3.35
% Change 0.24 5-Day High 405.54 5-Day Low 398.11
Last 60 days High Low
2010 Div BR (%) (%)
0.95 19.98 28.95 27.02 2.14 2.75 4.50 2.95 3.90 8.88 0.97 4.80 2.40 14.05 5.38 32.37 7.59 5.43 7.29 2.70 4.99 2.98
30 11.5 10 -
0.33 15.60 24.40 22.10 1.10 1.28 2.15 0.18 1.50 6.16 0.53 3.00 1.05 8.99 2.16 24.50 5.63 3.61 4.70 1.60 1.67 1.24
2011 Div BR (%) (%)
20B 20B 10B -
-
-
Open 1,338.84 Turnover 1,998,918 P/E (x) 21.15 Paid up Cap(mn)
Company
1st Fid Leasing Allied Rental AL-Meezan Mutual F. AL-Noor Modaraba B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Equity Modaraba Golden Arrow H B L Modaraba Habib Modaraba I B L Modaraba JS Growth Fund JS Value Fund KASB Modaraba Mod Al-Mali NAMCO Balanced F. Pak Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Safeway Mutual Fund Stand Chart Modaraba Tri-Star Mutual
PE
264 600 1375 210 780 65 200 524 760 397 1008 202 3180 1186 283 184 1000 125 1000 2835 2841 872 340 545 454 50
10.00 3.28 7.36 5.02 3.91 2.91 1.43 12.19 2.21 2.62 5.92 16.09 70.00 19.11 1.18 15.20 5.47 4.80 2.02 8.53 7.22 2.27 7.10 4.66 3.72
Open 1.50 15.00 8.90 3.20 1.69 1.45 0.59 1.97 3.11 7.76 6.67 2.58 5.61 5.35 1.83 1.75 3.60 1.14 6.72 13.22 6.40 1.04 1.58 7.02 9.51 1.30
High Low 1,373.97 1,341.28 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 2.21
High 1.68 16.00 9.04 3.25 1.79 1.99 0.60 2.05 3.16 7.89 6.88 2.40 5.65 5.40 1.61 2.45 3.70 1.15 7.00 13.49 6.48 1.07 1.57 7.10 9.65 1.45
Low
Close Chg
1.33 15.50 8.80 3.00 1.60 1.25 0.55 1.90 3.05 7.75 6.87 1.65 5.56 5.30 1.60 1.52 3.50 0.95 6.73 13.15 6.31 1.00 1.26 7.10 9.50 1.34
1.60 15.50 8.83 3.01 1.72 1.28 0.57 1.95 3.10 7.85 6.87 1.77 5.60 5.35 1.60 1.52 3.50 0.96 6.94 13.30 6.35 1.00 1.30 7.10 9.51 1.34
0.10 0.50 -0.07 -0.19 0.03 -0.17 -0.02 -0.02 -0.01 0.09 0.20 -0.81 -0.01 0.00 -0.23 -0.23 -0.10 -0.18 0.22 0.08 -0.05 -0.04 -0.28 0.08 0.00 0.04
Close 1,351.61 Listed cap 29,771.58 mn Payout (%) 104.74
Volume 11568 1010 34431 5000 1199 1576 30068 14531 146272 1040 520 113 874776 264286 2300 6247 30000 5888 148132 375967 14526 26396 302 1000 200 1497
2.00 16.00 9.15 3.80 2.79 1.99 1.10 2.37 3.80 8.49 7.00 3.69 5.89 5.40 2.23 2.50 4.24 2.00 7.18 13.71 6.74 1.19 2.54 8.49 10.29 2.45
1.05 14.01 5.85 2.10 0.90 0.93 0.16 1.05 2.56 5.11 5.80 1.06 2.65 2.31 1.26 0.56 2.40 0.30 5.00 7.90 3.50 0.81 0.50 5.01 8.11 0.86
16.75 31 34.5 39 19.1 0.69 239.68 2469 11.49 26.2 6.31 23.3 6.25 60 295 7.71 49.61 88.25 2.56 10.85 0.7 7.45 0.64 0.49 4.9 20.56 3.99 1.51 2.05 6.75 2.02 1.01 4.99 580 4.4 3.16 8.03 4 61.19 9.95 1.23 2.55 0.51 171 2.9 0.5 7.5 14.4 405.45 8.51 2051.02 3.02 6.25 7.59 0.33 4 4.01 4.2 1111 2.2 0.51 10.6 3.9 9.27 3.3 8.4 2.85 6.15 2.74
Symbols
2010 Div BR (%) (%) 22.5 18.5 5 0 1.2 17 11 21 3 5 10 2.8 15 3 10 20 10 3 1 18.2 17 -
Open
High 16.5 31 33.4 37.77 18.1 0.79 228.06 2498.99 11.98 27.4 7.2 23 7 61 291.99 8.44 52.09 89.39 2.8 11.85 1 7.25 0.79 0.54 5 20.95 3.99 2.22 2.18 6.73 2.5 2 5.98 575 4.75 4.1 9 4 63 10.9 1.44 3.48 0.49 174 2.9 0.6 8 15.35 415 9 2121 3.7 7 7.6 0.33 4.25 4.98 4.45 1163.91 2.78 1.5 11 4.3 9.95 3.3 8.49 3.3 6.15 2.8
Low
Close
16.5 31 33.4 37.76 18.1 0.67 227.7 2445 11.98 24.89 6.55 22.14 5.5 59.95 285.01 6.73 52.09 88.02 2.5 9.85 0.5 7.25 0.6 0.51 5 20.95 3.56 1.5 2.17 6.72 1.11 1.25 5.98 551.01 4.75 4.1 8.85 4 62.5 10.9 1.43 3.48 0.49 174 2.9 0.6 8 15.35 402 9 2048 3.49 6.78 7 0.33 4.01 3.71 4.13 1100.01 2.78 1.5 11 3.8 9.2 3.3 8.44 3.3 6.15 2.79
16.5 31 33.4 37.76 18.1 0.69 227.7 2455.1 11.98 26.51 6.6 22.14 5.5 59.95 291.99 8.44 52.09 88.02 2.58 11.68 0.71 7.25 0.69 0.51 5 20.95 3.6 2.22 2.17 6.73 1.11 1.25 5.98 575 4.75 4.1 8.85 4 62.5 10.9 1.43 3.48 0.49 174 2.9 0.6 8 15.35 405.13 9 2078.98 3.49 6.78 7.1 0.33 4.01 3.8 4.35 1111 2.78 1.5 11 4.05 9.2 3.3 8.44 3.3 6.15 2.79
Change
Vol
-0.25 0 -1.1 -1.24 -1 0 -11.98 -13.9 0.49 0.31 0.29 -1.16 -0.75 -0.05 -3.01 0.73 2.48 -0.23 0.02 0.83 0.01 -0.2 0.05 0.02 0.1 0.39 -0.39 0.71 0.12 -0.02 -0.91 0.24 0.99 -5 0.35 0.94 0.82 0 1.31 0.95 0.2 0.93 -0.02 3 0 0.1 0.5 0.95 -0.32 0.49 27.96 0.47 0.53 -0.49 0 0.01 -0.21 0.15 0 0.58 0.99 0.4 0.15 -0.07 0 0.04 0.45 0 0.05
100 100 100 100 100 82 71 70 66 66 63 63 47 46 34 28 26 26 24 23 22 20 20 18 15 12 12 12 11 11 11 11 11 11 10 10 10 10 10 10 10 10 10 10 10 10 10 10 9 9 8 6 5 4 4 3 3 3 3 2 2 2 2 2 2 2 2 1 1
Low
Close
211.8
204.5
206.23
POL-JAN
327.79
333
328.01
329.03
1.24
873500
% Change 0.95 5-Day High 1,359.09 5-Day Low 1,338.84
FFBL-JAN
38.64
39.7
38.65
39.42
0.78
826500
2011 Div BR (%) (%)
ENGRO-JAN 208.89
Change 12.76 Market cap 18,180.23 mn Div Yield (%) 7.69
Last 60 days High Low
Open
FUTURE CONTRACTS
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index
2011 Div BR (%) (%)
20 - 20B - 66R 55 -63.46R 10 -
10.51 38.51 78.25 10.75 42.00 14.90 92.55 57.00 16.45 9.51 12.50 6.40 12.00
Open 849.92 Turnover 21,039 P/E (x) 4.23
ELECTRICITY High Low 1,362.90 1,342.06 Total cos Defaulter cos P/BV (x) ROE (%) 1.40 9.35
10.85 39.88 81.50 11.48 42.99 15.00 95.00 58.86 16.84 10.75 12.90 6.42 12.50
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,352.16 Turnover 10,079,961 P/E (x) 14.98
10.50 38.52 77.63 11.01 42.34 14.72 93.00 58.00 16.57 10.00 12.50 6.60 13.00
-
-
DGKC-JAN
-
30.1
High
30.65
29.82
Change
Vol
-2.66 1040500
0.28
776000
NML-JAN
68.12
68.88
68
68.25
0.13
580000
MCB-JAN
229.34
240.25
229.99
239.53
10.19
548000
NBP-JAN
77.81
78.72
77.75
78.38
30.38
0.57
435000
PPL-JAN
224.22
225.51
221.8
222.21
-2.01
213500
PSO-JAN
294.44
298.4
294
295.24
0.8
178000
OGDC-JAN
174.37
174.5
171.01
172.02
-2.35
143500
AICL-JAN
91.19
93.3
92.1
92.33
1.14
139500
LUCK-JAN
74.59
75.24
74
75
0.41
94000
UBL-JAN
67.45
68.25
67.2
68.09
0.64
75500
BOP-JAN
9.47
9.31
9.1
9.25
-0.22
FFC-JAN
136.75
138
136.91
137.27
0.52
NETSOL-JAN
20.4
21.42
20.95
21.42
1.02
34000
ANL-JAN
9.44
9.6
9.42
9.43
-0.01
19500
67500 52500
ZERO VOLUME Symbols
Open
NMBL
1.75
1.6
1.6
1.6
-0.15
0
DFSM
4.19
3.99
3.99
3.99
-0.2
0
DWTM
9.77
9
9
9
-0.77
0
25.38
25.43
25.43
25.43
0.05
NATM
8.1
9.1
9.1
9.1
1
PRET
30.2
29.5
29.5
29.5
-0.7
0
SALT
67
65.9
65.9
65.9
-1.1
0
SHDT
13.4
13.3
13.3
13.3
-0.1
0
1
1.01
1.01
1.01
0.01
0
7.25
7.24
7.24
7.24
DINT
COTT HUSI
High
Low
Close
Change
Vol
0 0
-0.01
0
TOWL
5.51
6
6
6
0.49
0
JVDC
60.99
59
59
59
-1.99
KHTC
36.1
36
36
36
-0.1
IDEN
14.5
14
14
14
-0.5
0
TREI
2
1.95
1.95
1.95
-0.05
0
LPGL
15
14
14
14
-1
0
MUBD
2
1.75
1.75
1.75
-0.25
0
0 0
BOARD MEETINGS
Dera Ghazi Khan Cement Co Ltd
KSE 100 INDEX
Engro Corporation
Fauji Fertiliser Bin Qasim Ltd
Company
Date
Time
Masood Textile Mills Ltd Olympia Spinning & Weaving Mills Ltd Shadman Cotton Mills Ltd Husein Industries Ltd Byco Petroleum Pakistan Ltd Shaheen Insurance Company Ltd Invest Capital Investment Bank Ltd Siemens (Pakistan) Engineering Company Ltd Pakistan Petroleum Ltd Fauji Fertiliser Bin Qasim Ltd Unilever Pakistan Limited Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd
13-Jan 15-Jan 15-Jan 15-Jan 17-Jan 17-Jan 19-Jan 23-Jan 24-Jan 25-Jan 14-Feb 16-Feb 17-Feb
11:00 10:00 6:30 3:00 3:00 10:00 11:00 3:30 10:00 10:30 2:30 12:30 2:30
TECHNICAL LEVELS Company
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
70.60
Support 1
12,223.70
MA (5-day)
12,313.53
Support 2
12,166.20
MA (10-day)
12,172.21
Resistance 1
12,344.75
MA (100-day)
10,734.10
Resistance 2
12,408.25
*Arif Habib Ltd
10,406.29
Pivot
Brokerage House
Buy
*Arif Habib Ltd
AKD Securities Ltd
43.29
Buy
AKD Securities Ltd
TFD Research
36.85
Positive
53.58 30.05 27.33 26.92
Rs Recommendations
34.7
Sell
*Arif Habib Ltd
Accumulate
AKD Securities Ltd
Negative
TFD Research
32.06 29.1
182.55 5,536.73 48.48 30.09
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
70.29 37.21 31.56 30.30
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
326.94 12,812.72 105.71 38.90
* Target price for Jun-11 & **Net Open Interest in future market
12,344.75 and 2nd resistance level at 12,408.25, while Index will continue to DGKC closed up 0.41 at 30.33. Volume was 261 per cent above average FFBL closed up 0.77 at 39.19. Volume was 388 per cent above average find its 1st support level at 12,223.70 and 2nd support level at 12,166.20. (trending) and Bollinger Bands were 40 per cent wider than normal. KSE 100 INDEX is currently 18.1 per cent above its 200-day moving aver- (trending) and Bollinger Bands were 49 per cent narrower than normal. age and is displaying an upward trend. Volatility is relatively normal as DGKC is currently 12.7 per cent above its 200-day moving average and is FFBL is currently 29.4 per cent above its 200-day moving average and is compared to the average volatility over the last 10 trading sessions. displaying a downward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect modVolume indicators reflect moderate flows of volume into INDEX (mildly bullthe average volatility over the last 10 trading sessions. Volume indicators ish). Trend forecasting oscillators are currently bullish on INDEX. erate flows of volume into FFBL (mildly bullish). Trend forecasting oscillaMomentum oscillator is currently indicating that INDEX is currently in an reflect volume flowing into and out of DGKC at a relatively equal pace. tors are currently bullish on FFBL. Momentum oscillator is currently indicatTrend forecasting oscillators are currently bearish on DGKC.
overbought condition.
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
Sell
*Arif Habib Ltd
AKD Securities Ltd
189.75
Neutral
AKD Securities Ltd
TFD Research
218.18
Neutral
TFD Research
*Arif Habib Ltd
196.4
73.70 227.78 203.04 202.71
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
82.1
Rs Recommendations
Brokerage House
Buy
AKD Securities Ltd
61.96
Neutral
TFD Research
92.3
Positive
342.10 81,651.65 76.48 234.03
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
70.38 76.75 67.11 67.94
59.97 74.2
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
70.66 66.23 53.20 51.70
238.8
Buy Neutral
Leverage Position
64.50 199.05 181.34 185.59
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 30,270.59 279.13 206.94
* Target price for Jun-11 & **Net Open Interest in future market ENGRO closed down -3.01 at 205.25. Volume was 225 per cent above average (trending) and Bollinger Bands were 64 per cent wider than normal. ENGRO is currently 10.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into ENGRO (mildly bullish). Trend
Kot Addu Power Co Ltd
Rs Recommendations
Brokerage House
Buy
*Arif Habib Ltd
Neutral
AKD Securities Ltd
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
47
Buy
48.7
Buy
46.05
Neutral
Technical Outlook
Technical Outlook 318.44 24,825.91 105.64 77.78
Sell
Technical Analysis
TFD Research
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
176
208.75
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Nishat Mills Ltd
Technical Outlook
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
Rs Recommendations
forecasting oscillators are currently bullish on ENGRO.
ing that FFBL is currently in an overbought condition.
National Bank of Pakistan
MCB Bank Ltd
Fair Value
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House
Fair Value
TFD Research
Technical Outlook Technical Analysis
12,287.25
resistance level is concern, the market will see major 1st resistance level at
Rs Recommendations
42
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 14.03 at 12,281.24. Volume was 51 per cent above MA (100-day) average and Bollinger Bands were 14 per cent wider than normal. As far as MA (200-day) MA (200-day)
Fair Value
175.80 11,961.43 78.43 68.26
* 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)
82.51 42.60 40.75 41.92
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
176.05 7,989.18 N/A 45.12
* Target price for Jun-11 & **Net Open Interest in future market
MCB closed up 10.10 at 238.68. Volume was 366 per cent above average NBP closed up 0.61 at 77.96. Volume was 22 per cent above average and NML closed down -0.05 at 68.04. Volume was 21 per cent below average KAPCO closed up 0.54 at 45.38. Volume was 500 per cent above average (trending) and Bollinger Bands were 15 per cent narrower than normal.
Bollinger Bands were 47 per cent wider than normal.
and Bollinger Bands were 42 per cent wider than normal.
(trending) and Bollinger Bands were 176 per cent wider than normal.
MCB is currently 17.7 per cent above its 200-day moving average and is NBP is currently 14.8 per cent above its 200-day moving average and is NML is currently 31.6 per cent above its 200-day moving average and is KAPCO is currently 8.3 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is low as compared to the average displaying an upward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect mod- the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into MCB (mildly bullish). Trend forecast- erate flows of volume into NBP (mildly bullish). Trend forecasting oscilla- reflect moderate flows of volume into NML (mildly bullish). Trend forecast- reflect very strong flows of volume into KAPCO (bullish). Trend forecasting ing oscillators are currently bullish on MCB. Momentum oscillator is cur- tors are currently bullish on NBP. Momentum oscillator is currently indicat- ing oscillators are currently bullish on NML. Momentum oscillator is cur- oscillators are currently bullish on KAPCO. Momentum oscillator is currentrently indicating that MCB is currently in an overbought condition.
ing that NBP is currently in an overbought condition.
rently indicating that NML is currently in an overbought condition.
ly indicating that KAPCO is currently in an overbought condition.
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Limited Arif Habib Corp Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Kot Addu Power K.E.S.C Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele Jah Siddiq Co Lotte Pakistan
RSI 1st 2nd (14-day) Support 43.02 2.85 2.55 67.91 70.20 69.50 47.53 62.15 61.80 47.70 25.65 25.35 60.39 26.05 25.60 67.19 91.30 90.65 59.28 17.50 17.40 36.40 9.30 9.25 77.98 354.70 344.35 73.55 135.75 132.60 55.65 10.85 10.65 64.91 3.70 3.50 39.51 9.05 8.90 48.30 2.10 2.00 53.58 29.85 29.35 56.71 3.10 3.00 34.05 2.50 2.45 39.51 41.75 41.35 36.05 69.40 67.70 64.50 202.00 198.75 45.56 14.65 14.50 42.51 4.85 4.80 70.29 38.60 38.05 80.80 135.95 135.35 69.15 124.90 121.90 71.76 38.75 38.50 69.44 150.95 148.55 73.22 266.20 257.80 50.98 3.90 3.85 50.22 1.65 1.60 50.51 2.55 2.50 82.51 44.70 44.05 57.54 2.95 2.85 47.60 73.90 73.15 73.70 231.85 225.00 39.58 2.75 2.70 70.38 77.45 76.95 55.03 23.05 22.85 79.11 20.55 19.65 51.42 2.95 2.90 50.12 1.85 1.80 70.66 67.65 67.25 52.38 169.15 167.15 29.90 2.35 2.30 35.36 1.85 1.80 62.03 2.45 2.35 52.32 6.95 6.85 80.87 325.15 322.90 61.77 219.40 217.70 49.19 68.95 67.00 55.63 291.85 289.90 45.56 19.05 18.90 52.17 204.10 203.05 44.74 26.90 26.75 53.46 13.35 13.20 53.77 21.70 21.45 41.65 2.10 2.05 28.38 3.20 3.15 61.73 66.70 65.85 38.77 2.50 2.40 44.21 10.60 10.40 68.37 14.45 14.30
1st
2nd
Resistance 3.55 3.95 71.90 72.90 62.70 62.95 26.35 26.75 26.95 27.40 92.80 93.65 17.85 18.10 9.50 9.65 370.20 375.35 140.85 142.80 11.10 11.20 4.05 4.20 9.45 9.75 2.20 2.30 30.65 30.95 3.25 3.40 2.65 2.70 42.70 43.35 73.65 76.20 209.75 214.25 14.95 15.10 5.00 5.10 39.65 40.10 137.45 138.35 129.90 131.90 39.05 39.20 155.30 157.25 278.75 282.90 4.00 4.05 1.75 1.80 2.65 2.70 45.85 46.35 3.10 3.20 75.15 75.60 242.70 246.70 2.80 2.85 78.40 78.85 23.55 23.90 21.85 22.30 3.05 3.10 2.05 2.15 68.70 69.40 174.00 176.85 2.50 2.55 2.05 2.20 2.60 2.65 7.10 7.15 331.05 334.65 224.00 226.90 72.90 74.90 296.30 298.90 19.40 19.65 207.10 209.05 27.30 27.55 13.65 13.75 22.30 22.65 2.20 2.25 3.35 3.45 68.20 68.85 2.65 2.75 11.05 11.30 14.75 14.90
Pivot 3.25 71.20 62.35 26.05 26.50 92.15 17.75 9.45 359.85 137.70 10.95 3.85 9.30 2.15 30.15 3.20 2.60 42.35 71.95 206.50 14.80 4.95 39.05 136.85 126.90 38.85 152.90 270.35 3.95 1.70 2.60 45.20 3.00 74.35 235.85 2.75 77.90 23.40 21.00 3.00 1.95 68.30 172.00 2.40 2.00 2.50 7.00 328.80 222.30 70.95 294.40 19.25 206.05 27.15 13.50 22.05 2.15 3.30 67.35 2.60 10.85 14.60
8
Thursday, January 13, 2011
Beijing to build its second major airport
MANILA: Cabin crew members of budget airline Cebu Pacific perform a dance as part of the inflight safety demonstration at the arrival area of the Manila International Airport.-Reuters
Swine Flu Alert
Thermal scanners to start at airports KARACHI: The Sindh Health Department has asked concerned authorities to reactivate thermal scanners at the Karachi International Airport to identify arrivees infected with swine flu virus. Sindh Secretary for Health, Syed Hashim Raza Zaidi Monday said that coordination with concerned authorities has also been developed for proper medical examination of suspected patients on airport premises. He iterated that there was no need for any panic and that
government efforts were meant to control spread of H1N1 virus that causes swine flu. "WHO has also provided us more than 50,000 vials of improved version of anti influenza vaccine to counter emerging strains of the infection," said Zaidi in reply to a question. The improved vaccine developed only last year --duly approved by WHO-- holds an anti swine flu component and will supplement government efforts to control spread of the viral infections, peculiar to
winters. The health Secretary said all major government hospitals have already been provided with adequate stocks of anti viral drugs including Tamiflu tablets. "Isolation wards have also been developed at the hospitals coupled with due provision for compliance of relevant protocols," said Syed Hashim Raza. The provincial department has provided more than 500 kits comprising special masks (N95 and N99), aprons, gloves, etc to different hospitals.-APP
BEIJING: Beijing plans to build a second major airport in the next five years to keep up with an explosion in air travel in the fast-growing economy, said a statement released here. State media said the airport was expected to handle 60 million passengers a year, easing pressure on the existing Beijing Capital International Airport -the world's second busiest hub with 73.9 million passengers last year. The project has not yet been approved by the central government, the Beijing Municipal Commission of Development and Reform said in the statement. But Li Jiaxiang, head of the Civil Aviation Administration of China (CAAC), underlined the need to alleviate the pressure on the Chinese capital's existing international hub. "It is very urgent that we start building the second (major) airport in Beijing now," he was quoted as saying in the China Daily. "It is now impossible to add even one more flight to the tight daily schedule of the capital airport." Beijing already has two commercial airports --the international airport in the northeast and a smaller domestic airfield in the south. Construction of the new airport is likely to start this year and Li estimated total investment would be at least 100 billion yuan ($15 billion), the report said.-Agencies
Indian order boosts EADS
TOKYO: Japan Airlines president Masaru Onishi and American Airlines president Thomas Horton hold miniature models of jetliners in a photo session.-Reuters
JAL, American Air JV by Apr TOKYO: Japan Airlines (JAL) and its partner American Airlines has said they would start their revenue-sharing joint business on trans-Pacific flights in April. The venture includes the alignment of their 2011 summer schedules effective from March 27, expanded code-sharing and the introduction of common fares, JAL president Masaru Onishi told reporters. The announcement follows approval by the US and Japanese authorities last year of antitrust immunity for the proposed joint trans-Pacific operations. Onishi said the new coopera-
tion would improve the carriers' revenue by a combined 13 billion yen ($156.4 million) for the initial year. "We had set separate fares as American has been a competing rival while being a partner. But in this joint business, we will make them (the fares) common" between both carriers, Onishi told reporters. The joint business will apply to non-stop flights on 10 transPacific routes initially, including those linking Tokyo to New York, Chicago, Los Angeles and Vancouver and those linking Chicago to Beijing and Shanghai. JAL and American
announced commemorative trans-Pacific economy-class airfare reductions for sale in Japan from Tuesday for travel between February 1 and March 31. "Historically, routings involving both airlines were typically only available at much higher fare levels," they noted. The carriers are offering a 69,000 yen round trip between Tokyo and San Francisco or Los Angeles, much lower than prices of up to 249,000 yen currently charged for a traveller flying to the United States on JAL and returning on American.-Agencies
LES MUREAUX: Airbus basked in the world's biggest commercial plane order, with shares in parent EADS lifted by news of its $15.6 billion 180 aircraft deal with Indian airline IndiGo. The deal underlines India's development as major aviation market and comes as a welcome boost to EADS Chief Executive Louis Gallois, who has been pushing expansion into emerging markets. It also gets an early blow in for Airbus in the annual battle with US rival Boeing for sales supremacy. Indian budget carrier IndiGo's order includes 30 classic A320s -- Airbus's bestselling model which carries 150 people on short and medium routes -- and 150 upgraded versions of the same type of aircraft, called A320neo. IndiGo said it would take delivery of the first aircraft in 2015 and was considering an IPO to finance the purchase. "This is surprisingly positive news for us. It is the first A320neo contract and even the largest contract in history," DZ Bank said in a note. However the bank, which has a sell recommendation, said investors would remain nervous about profitability in the short term amid European defense cuts and the threat of production delays to the next Airbus plane, the midsized A350, which has a similar design to the delayed Boeing 787 Dreamliner. -Reuters
PIA-THY concord fanning big fears KARACHI: Employees and Associations of PIA employees have termed latest MoU between PIA and Turkish airline a death warrant and management's secret step to terminate airline operations in Istanbul. Pakistan Airlines Pilots Association (PALPA), Society of Aircraft Engineers of Pakistan (SAEP), PIA's Senior Staff Association (PIASSA), People's Unity, Collective Bargaining Agent (CBA), Aircraft Technologist Association of Pakistan (ATAP) criticized this act of PIA management in a joint statement and said this act will be a potential cause of an unwavering loss to national flag carrier. President PALPA, Capt Sohail Baluch said the termination of flight operation in Turkey will not only minimize the revenue of the airline but will also cut down its size to a meager regional domestic carrier. President PALPA said that the Pakistanis mostly opt for national flag carrier for simple reasons of local native language speaking crew and direct flight to avoid hassle of changing planes at foreign destination. President CBA, Kamran Chaudhry, criticising the management's unwise marketing policy of converting an International airline into a regional while giving its interna-
tional business to other airlines said that now all the employees of PIA will be working to earn profits for another airline while its own shareholders are waiting since years to earn profit from their investments. Shaukat Jamshed, President SAEP strongly condemning the action said the PIA Management has failed to understand the core issues and instead of devising rational strategy for rehabilitation of national flag carrier they are putting the airline into a new dilemma. This action of PIA's management is a living evidence of their incompetence. He said that any category of loss to national flag carrier will not be acceptable to SAEP. He recommended that PIA management should share each and every clause of this agreement with associations and employees because they are the major stakeholders of this airline. President SAEP said that PIA is a symbol of pride to Pakistani expatriates mainly from USA and European routes and they always prefer to travel with national flag carrier because of their hospitality. Abid Saleem Khan, President PIASSA has demanded that PIA Management should take the elected representatives of PIA employees into confidence and brief them on the planned arrangement between PIA and Turkish Airline. -Online
Etihad takes its loyalists to date TFD Report KARACHI: Etihad Airways, the national airline of the United Arab Emirates, paid tribute to its corporate clients in Pakistan by hosting a gala dinner at the Marriott Karachi in recognition of their continuous business support and commitment to the airline. The prestigious event was attended by corporate clients and travel partners from leading organisations in Karachi as well as other senior travel industry officials. Amer Khan, Country Manager of Etihad Airways in Pakistan, said: "We are pleased to have the continuous support of our corporate clients who have played a vital role in taking our progress in Pakistan to where it is today. "2011 will be an excellent year for Etihad in Pakistan as
we plan to work even closer with our corporate guests to guarantee that they receive nothing but the best travel service and experience when flying with Etihad Airways. We are also delighted to be working with Marriott Karachi whose productive partnership has allowed us to host this spectacular event." Etihad flies to four destinations in Pakistan i.e. Karachi, Islamabad, Lahore and Peshawar from its hub in Abu Dhabi, the capital of the United Arab Emirates. Currently Etihad offers flights to over 60 destinations in the Middle East, Europe, North America, Africa, Asia and Australia. From Pakistan, Etihad operates 23 weekly flights to Abu Dhabi - with daily flights from Karachi, Lahore, and Islamabad and twice weekly from Peshawar.
Licences of 7 tour agents suspended LAHORE: The Tourist Services Department of Federal Ministry of Tourism has suspended 7 licences of tour operators. Violation of rules and regulations, non-payment of annual renewal fee and non-submission of bank guarantees are among the reasons for suspension, Chief of the Tourist Services Punjab Muhammad Nasim Laber said here. He said that the licences were suspended after issuing reminders several times. A transparent process was adopted to suspend the licences in line with the government policy, he said. Laber said that nearly 1000 travel agents and tour
operators are registered, of which 75 per cent are engaged in arranging tours for Umrah and Hajj while the remaining are concerned with air ticketing. He said that a special counter has been established to facilitate travel agents and tour operators through one window operation. In Charge licensing section Punjab Assistant Controller, Tourist Services, Wazir Ahmad Bosan, has warned travel agents and tour operators to clear their financial liabilities towards Tourist Services Department well in time otherwise their licences will be cancelled.-APP
PIA defends MoU case KARACHI: The alliance with Turkish Airlines may act as a step for PIA towards becoming member of Star Alliance, the largest airline grouping in the world. This was pointed out by the spokesman of the National Carrier here on Tuesday. He termed the recent statements by leaders of the employees associations of PIA published in the newspapers as `misleading'. The PIA spokesperson maintained that these associations are giving statements without understanding the actual facts of the record of discussion between the two airlines. In fact there has been no agreement but a record of discussion between PIA and Turkish Airline, he said adding that the agreement will only be reached after the relevant authorities of both the countries validate the same. It was because of the unequivocal statements by representatives of the employee associations that Managing Director of PIA called all their leaders for a briefing on the merits of the proposed commercial agreement. Managing Director PIA Captain Muhammad Ejaz Haroon gave a detailed briefing to the representatives of associations and provided elaborate details to remove their fears about the expected PIATurkish Joint Venture. Both sides discussed the issues in detail and it was mutually decided that the representatives will be provided with details about the joint venture. The said meeting was mutually agreed to be held for the next week.-APP
S’pore Airlines' Brazil ops by March 28 SINGAPORE: Singapore Airlines (SIA) will make its maiden flight to the South American continent in March, the carrier said. "Singapore Airlines will begin services to Sao Paulo in Brazil on 28 March," SIA said in a statement. "Sao Paulo will be Singapore Airlines' first South American destination." It said flights will operate three times a week via the Spanish city of Barcelona. Spanish carrier Spanair will be code-sharing on the flights, SIA added. SIA said it will use Boeing 777-300ER aircraft for the route. A one-way adult economy-class ticket to Guarulhos International Airport on March 28 was priced at Sg$2,505.80 ($1,938.45), a check on SIA's online ticketing website showed. With its latest addition, the carrier's route network will span 64 destinations in 35 countries across six continents, said an SIA spokesman.Agencies
Dubai Shopping Fest from 20th KARACHI: The 15th annual Dubai Shopping Festival (DSF) will start from January 20. This was announced by the vice-President of Emirates Airlines Pakistan and Afghanistan Badr Abbas. He said that the month-long event would be supported by the Emirates Airline. Abbas stated that Pakistan is an important market for the DSF. He was of the view that the DSF was an important platform to further consolidate ties between the United Arab Emirates and Pakistan. Badr Abbas was optimistic that there will be a surge in passenger traffic to the UAE during the DSF. -APP
9
Thursday, January 13, 2011
Brent oil hits 27mth high; $100 in view
European vegetable oil prices
EIA says US crude stocks fall; products up LONDON: Brent crude oil rose to $98 a barrel on Wednesday for the first time in 27 months as production shutdowns and growing global demand raised expectations of tighter supplies. Two Norwegian oilfields resumed output on Wednesday after a 20-hour interruption, caused by a gas leak, had supported oil prices. The Trans Alaska Pipeline, which ships about 12 per cent of US crude output, was shut on Saturday because of a leak, although shipments restarted at a reduced rate. Brent, the benchmark for oil trade in Europe, the Middle East and Africa, rose as much as 96 cents to $98.57, the highest in 27 months, and was up 91 cents at $98.52 at 1601 GMT. US crude added $1.03 to $92.14. "Worsening sentiment is the only thing that could derail the price rally at the moment," said Carsten Fritsch, analyst at Commerzbank, who said $100
oil looked imminent. "It seems only a matter of time if sentiment remains positive and more disruptions on the supply side come in." US crude traded more than $7 below Brent on Tuesday, the widest spread since February 2009, because of high inventories at the
Tokyo rubber hits fresh high
US cotton limits up ahead of USDA report
BANGKOK: Tokyo rubber futures jumped 2 per cent to hit another record high on Wednesday, supported by firm oil prices and strong demand on the fundamental front, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery rose 9.2 yen, or 2 per cent, to settle at 449.1 yen ($5.39) per kg. It rose as high as 450.2 yen, the higest ever. "TOCOM prices may rise further as demand remains strong. But the rise shouldn't be very fast as players were cautious about high prices and it seems like the market is overbought," one dealer said. US oil prices steadied above $91 a barrel on Wednesday following a sharp rally the previous session, supported by the shutdown of two North Sea oil fields and the continued outage of a key Alaskan pipeline. Asian physical supply was expected to remain thin in February and March as Thailand and Indonesia, the world's top two producers, are in the dry season, when rubber trees produce less latex, traders said. -Reuters
Cushing, Oklahoma delivery point and tighter supply of Brent-related crudes. Oil also gained support from a weekly US government supply report which showed a larger than expected, 2.15 million-barrel decline in crude stocks last week. The Energy Information Administration's report released at 1530 GMT also said gasoline and distillates stocks rose, a higher increase than analysts had expected. Oil also gained support from
NEW YORK: US cotton futures closed up the daily trading limit on Tuesday on speculative buying ahead of a US government report that is expected to show reduced supplies in China and a smaller crop in flood-ravaged Australia, analysts said. The benchmark March cotton contract on ICE Futures US increased the daily 4.00-cent limit to settle at $1.4725 per lb, with the session low at $1.4315. Volume traded was 17,200 lots, over 50 per cent below the 30-day norm, Thomson Reuters preliminary data showed. 'The market's looking for cuts tomorrow,' said Mike Stevens, an independent cotton analyst in Mandeville, Louisiana. In its December report, USDA pegged China's cotton ending stocks at 13.22 million (480-lb) bales, unchanged from the preceding month's estimate. USDA estimated Australia's
forecasts for higher heating demand this week as the US Northeast, the world's biggest heating oil market, prepared for another snowstorm. Global oil demand this year is forecast to reach a record 88.6 million barrels per day (bpd), following much faster demand growth last year than most analysts expected. At the same time, the Organization of the Petroleum Exporting Countries is sticking to a productionrestraining output policy it agreed to more than two years ago, when recession hit demand and prices. Other analysts said Brent could reach $100 soon given that it has climbed above price levels acting as technical resistance that could have stood in the way of the rally. "The $100 magnet on Brent is within daily reach," said Olivier Jakob of Petromatrix. "The only real technical resistance left on Brent is $100." -Reuters
cotton harvest at 4.0 million bales, from 3.5 million in the preceding month's estimate. Stevens said many in the trade are anticipating a reduction in cotton ending stocks for top consumer China and a cut in output from Australia, where historic flooding caused by the La Nina weather anomaly has devastated the country. He said the market is now monitoring for demand destruction amid the strong cotton futures prices heading into the spring of 2011. Another factor for the market is the rebalancing by index funds aiming to cut risk from cotton and other overly weighted agriculture markets and adding exposure to natural gas and crude oil. The rebalancing runs between this week and next. Cotton was the best performing commodity in 2010 in the Reuters Jefferies Commodity Index, climbing 91.5 per cent. Reuters
Demand prospects help copper bounce LONDON: Copper rose on Wednesday, boosted by positive economic data and expectations of stronger demand from top metals consumer China, with a weaker US dollar also supporting prices. Benchmark copper on the London Metal Exchange was trading at $9,690 a tonne at 1656 GMT from $9,510 at the close on Tuesday. The metal used in power and construction hit a record high of $9,754 a tonne on Jan. 4. Nickel hit its highest level since May 2010 and tin reached a two-month high. Focus in the copper market has switched to the high probability of stronger demand from top consumer China and a deficit for a market estimated at around 19 million tonnes. "We had positive macro data flow supporting expectations of robust demand recovery further down the line," said Gayle Berry, an analyst at Barclays Capital. "This is a positive environment for industrial metals." Figures on Wednesday
showed stronger-than-expected euro-zone industrial production in November and German gross domestic product in 2010 rebounded at the
Shanghai copper strengthens Shanghai's benchmark third-month copper futures contract gained 0.7 per cent to 70,990 yuan a tonne. fastest rate since reunification. Stocks of copper in London Metal Exchange warehouses fell 1,475 tonnes to 378,175 tonnes. However since Dec. 9, they had risen by about 30,000 tonnes prompting some to think demand could be waning. However, others note the more than 30 per cent drop in copper stocks since they hit a 6-1/2 year high in mid-
February. A 135,950-tonne rise in LME aluminium stocks since January has weighed on prices of the metal used extensively in transport and packaging. But aluminium was trading higher at $2,507 a tonne from $2,497 a tonne. Three-month zinc was at $2,465 a tonne from $2,406, lead was at $2,657 from $2,595, tin at $27,000 from $26,550. Nickel was at $25,840 from $24,695. Nickel prices could benefit from the flooding in Australia cutting coking coal production, RBC said. "With coal supplies getting squeezed, the Chinese will find it difficult to produce steel using nickel pig iron and will have to return to the higher grade steels that utilise refined nickel," the bank said in a note. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 11 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 11 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
2305 2310 2260 2270 2200 2210 2200 2210
2488 2489 2502 2502.5 2557 2562 2593 2598
9483.5 2629.5 9484 2630 9471 2600 9472 2600.5 9240 2530 9250 2535 8865 2477 8875 2482
24590 24595 24550 24575 24150 24250 23325 23425
TIN
26625 26650 26600 26650 26100 26150
ZINC NASAAC
2398 2400 2407 2410 2432 2437 2400 2405
2411 2420 2435 2445 2460 2470 2515 2525
MONGOLIA - CHINA: A worker at the Jinyuan Company's smelting workshop, pours the rare earth metal Lanthanum into moulds near the town of Damao, located in China's Inner Mongolia Autonomous Region. -Reuters
Arabicas hits 13-1/2yr high; cocoa up LONDON: ICE arabica coffee futures surged to a 13-1/2year high on Wednesday, and Liffe robustas hit a multi-year peak, boosted by strong demand and potentially tighter supply in Brazil and Indonesia. Slowing sales from top robusta producer and exporter Vietnam and concerns about the outlook for the 2011 arabica crop in key producer Colombia also lifted coffee markets, with further price gains anticipated. The International Coffee Organization (ICO) raised its forecast for the 2010/11 global coffee crop on Wednesday to 134.6 million 60-kg bags from 133.0 million but said market fundamentals, including high demand and low stock levels, suggest continued price firmness in 2011. March arabicas on ICE jumped 3.5 per cent to $2.4295, the highest level for the spot contract since June 1997, and were up 3.2 per cent to $2.4210 per lb as of 1610 GMT. London March robustas hit a 2-1/4-year high of $2,185 per tonne, basis second month, early on Wednesday, and were 3.3 per cent higher at $2,180 at 1610 GMT. Cocoa futures edged up after the Indonesian rain forecast, though a strong flow of beans from West Africa kept the market under pressure, dealers said. ICE May cocoa traded $33 or 1.1 per cent higher at $2,990 a tonne at 1610 GMT, while May cocoa on Liffe was up 11 pounds or 0.6 per cent at 1,984 pounds a tonne. ICE raw sugar futures were little changed and below December's 30-year peaks as the market focused on how much of the sweetener No. 2 producer India could export in 2010/11, with concerns over likely limited flows underpinning prices. ICE March raw sugar futures were down less than half a per cent at 32.59 cents a lb at 1610 GMT, while London March white sugar was down $4.40 or 0.5 per cent to $803.00 per tonne in slim volume of 1,487 lots. Reuters
Gold retreats after Portuguese debt auction LONDON: Gold eased on Wednesday after a successful Portuguese bond auction soothed some concern over the euro-zone's finances and removed some investor desire for safe-haven assets, though a softer dollar stemmed the slide. Spot gold was bid at $1,378.72 an ounce at 1610 GMT against $1,380.45 late in New York on Tuesday, having
year's stellar performance, analysts said. Gold buying in top consumer India eased on Wednesday as prices rose, but buying remains strong overall across Asia, particularly in China. Premiums for gold bars hit their highest in two years on Tuesday. Demand for gold to back exchange-traded funds eased off further, meanwhile, with
earlier risen as high as $1,386.90. US gold futures for February delivery eased $5.80 an ounce to $1,378.50. The metal has clawed back some lost ground after posting its biggest weekly loss since mid-2010 last week, as a focus on more positive US data raised the prospect that US authorities may curtail quantitative easing measures sooner rather than later. However, in the absence of further bad news on euro-zone sovereign debt and US growth, it may struggle to build on last
holdings of the largest, New York's SPDR Gold Trust, slipping just over 1 tonne on Tuesday. Its holdings have declined more than 9 tonnes since the start of the year. Holdings of the largest silver ETF, the iShares Silver Trust, also declined, to 10,725.73 tonnes on Tuesday from 10,786.51 tonnes. Silver was bid at $29.54 an ounce against $29.50. Platinum was at $1,792.00 an ounce against $1,765.99, while palladium was at $799.97 against $782. -Reuters
Palm oil hits 3-week low; USDA data eyed KUALA LUMPUR: Malaysia palm oil tumbled to a threeweek on Wednesday on a technical correction ahead of a key US crop report that is likely to show tighter supplies. Palm oil rallied to a 33month high last week on concerns that heavy rains in palm oil-producing Southeast Asian and a dry spell in soyoilexporting South America will curb vegetable oil output. But traders now feel the rally might have been overdone after Malaysian palm data showed a lower than expected decline in stocks and the Brazilian soy crop may not be as badly affected as the crop in Argentina. Benchmark March 2011 palm oil contract on the Bursa Malaysia Derivatives fell as much as 2.1 per cent to 3,625 Malaysian ringgit ($1,180), a
level unseen since Dec. 22. The contract later settled at 3,650 ringgit. Overall traded volume shot up to 25,042 lot of 25 tonnes each, compared to the usual 15,000 lots. Traders are also waiting for key US agriculture data due later on Wednesday, which is likely to cut the forecast for South American soy output due to dry weather and show lower US soybean stocks. Other vegetable oils, which are increasingly used as a feedstock for biofuel that competes with petroleum diesel, edged higher on Wednesday as US crude steadied above $91. US soyoil for January delivery gained 0.5 per cent in Asian trade hours, while the most traded Sept. 2011 soyoil on China's Dalian Commodity Exchange dropped 1.1 per cent. -Reuters
ROTTERDAM: The following were the Wednesday's Rotterdam vegetable oil price's at 22:00 PST. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1090.00+5.00, Aug11/Oct11 1025.00+15.00, Nov11/Jan12 1025.00+10.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1500.00+15.00, Apr11/Jun11 1480.00+30.00, Jul11/Sep11 1500.00+30.00, Oct11/Dec11 1400.00+35.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1462.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1270.00+12.50, Feb11 1272.50+12.50, Mar11 1272.50+20.00, Apr11/Jun11 1250.00+17.50. PALMOIL: RBD dlrs tonne cif Rotterdam Mar11 1295.00, Apr11/Jun11 1285.00. PALMOIL: RBD dlrs tonne fob Malaysia Mar11 1240.00+12.50, Apr11/Jun11 1230.00+12.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Mar11 1247.50+12.50, Apr11/Jun11 1237.50+12.50, Jul11/Sep11 1217.50+15.00. PALM STEARIN: Dlrs tonne fob Malaysia Jan11 1225.00+15.00, Feb11 1225.00+15.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 1920.00+40.00, Feb11/Mar11 1910.00+35.00, Mar11/Apr11 1900.00+35.00, Apr11/May11 1900.00+45.00. -Reuters
Indian spot sugar drops on poor demand MUMBAI: Weak demand and concerns the government may impose restrictions on spot sugar trade to curb food inflation dragged down Indian sugar prices on Wednesday, and dealers said still there is scope for further downside. "Food inflation has ballooned and traders are worried that it may prompt the government to impose restrictions on spot trade. Recently tax officials raided onion traders," said Ashwini Bansod, a senior analyst at MF Global Commodities India. In Kolhapur, a key market in topproducing Maharashtra state, the most traded S-variety fell 0.36 per cent to 2,757 rupees ($61.08) per 100 kg. The most-traded M-grade sugar contract for February delivery on India's National Commodity and Derivatives Exchange (NCDEX) closed 1.46 per cent lower at 2,827 rupees per 100 kg, recovering from a contract low of 2,819 rupees earlier. The concerns over food inflation may delay the country's plan to export 500,000 tonne sugar under open general licence scheme, said a Mumbai-based dealer, who declined to be named. India has made available 1.7 million tonnes of non-levy sugar for January, higher than 1.5 million tonnes it had released for December, the government said in a statement. -Reuters
National Commodity Exchange Ltd Trading Summary Date
12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011 12-Jan-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
FE11 MA11 AP11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 JA11 FE11 MA11 JA11 FE11 JA11 JA11 MON TUE WED THU FRI MON TUE WED THU FRI 13JA11 JA11 JA11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
89.70 91.20 92.43 29.47 29.52 1383.00 1383.40 1384.00 1385.00 1383.80 1384.80 38267.00 38300.00 38290.00 38239.00 38248.00 44601.00 44601.00 39347.00 39388.00 39305.00 39319.00 39333.00 45226.00 45357.00 45178.00 45557.00 45600.00 3372.00 3377.00 5201.00 86.23 85.35
91.70 92.65 93.47 29.82 29.57 1387.00 1387.30 1388.30 1385.80 1383.80 1384.80 38267.00 38342.00 38290.00 38239.00 38248.00 44601.00 44601.00 39347.00 39388.00 39310.00 39319.00 39333.00 45226.00 45501.00 45182.00 45600.00 45600.00 3372.00 3377.00 5201.00 86.23 85.40
89.62 90.99 92.12 29.40 29.52 1373.00 1373.60 1375.00 1374.00 1380.50 1380.50 38189.00 38000.00 38212.00 38161.00 38170.00 44511.00 44511.00 39255.00 39296.00 39305.00 39227.00 39241.00 45118.00 45166.00 45178.00 45087.00 45103.00 3326.00 3331.00 5159.00 86.22 85.35
91.12 92.20 93.16 29.54 29.57 1379.60 1380.50 1381.50 1379.60 1380.50 1380.50 38189.00 38198.00 38212.00 38161.00 38170.00 44511.00 44511.00 39255.00 39296.00 39310.00 39227.00 39241.00 45118.00 45166.00 45182.00 45087.00 45103.00 3326.00 3331.00 5159.00 86.22 85.40
Traded Volume in lots 237 63 18 243 2,228 1,312 1,538 32 24 2 11 41 -
Previous Settlement Price 91.18 92.32 93.27 29.79 29.81 1385.40 1386.30 1387.30 1385.40 1386.30 1387.30 38308.00 38317.00 38331.00 38280.00 38289.00 44649.00 44649.00 39375.00 39416.00 39430.00 39347.00 39361.00 45259.00 45306.00 45322.00 45227.00 45243.00 3372.00 3377.00 5201.00 86.23 85.35
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 91.12 140 92.20 39 93.16 15 29.54 79 29.57 1379.60 1,083 1380.50 1,662 1381.50 1,112 1379.60 9 1380.50 1381.50 38189.00 30 38198.00 12 38212.00 1 38161.00 2 38170.00 44511.00 44511.00 39255.00 39296.00 39310.00 39227.00 39241.00 45118.00 45166.00 3 45182.00 45087.00 16 45103.00 44 3326.00 3331.00 5159.00 86.22 85.40 -
Ferrari F1 team principal Domenicali poses next to a logo of "21th "Wrooom, F1 and MotoGP Press Ski Meeting" in Madonna di Campiglio.
10
Thursday, January 13, 2011
Beckham training with the Tottenham LONDON: David Beckham was put through his trainingground paces by Tottenham Hotspur on Tuesday but there was no news on whether his stay would be anything more than a month-long keep-fit exercise. Tottenham manager Harry Redknapp, hoping the former England captain can be signed on a short-term loan from Los Angeles Galaxy, gave little away to the television crews parked outside the gates of the training complex. "He's a great lad and it's great to have him here," Redknapp told Sky Sports News when asked if there had been any progress over a possible loan deal for the 35-yearold. "He's a fit lad, he looks like he's in great condition, looks like he looks after himself. He's a model professional so that won't be a problem. "We all respect him," added Redknapp. "I don't know yet (whether it will be any more than training), we'll see what happens, who knows? It's complicated." Beckham, who grew up not far from Tottenham's north London stadium and whose grandfather had his ashes spread on their White Hart Lane pitch after his death, looked relaxed as he trained with a few familiar faces.Reuters
Sharapova struggling before Melbourne AUCKLAND: The characteristic grunts and squeals, so loud they could be heard outside the Auckland Tennis Centre and above the noise of traffic entering New Zealand's largest urban motorway system, were there. So were the crowds. Maria Sharapova, reputedly the world's best-paid sportswoman, underlined her commercial pulling power at the Auckland Classic with her presence helping to effectively sell out the entire tournament - something that had never happened before. But the former world number one's decision to shake-up her normal Australian Open preparations by playing in New Zealand left few who saw her in any doubt. She was nowhere near the same level she was when she captured her last grand slam title at Melbourne Park in 2008. Three years ago, the tall Russian romped through the Australian Open without dropping a set and was seemingly on her way back to the top of the world. Less than seven months later she was recovering from surgery on her right shoulder. She did not return for nine months, having dropped outside the top 10 for the first time in more than four years. A quarter-final showing at Roland Garros in 2009 has been her best grand slam showing since her return to the WTA Tour, while she has claimed just three titles and made four other finals since. Last year at Melbourne Park she lost in the first round to compatriot Maria Kirilenko and while she added the Memphis and Strasbourg titles to take her career tally to 22, she beat just two players ranked in the top 10.-Reuters
England squeaks to last-ball thriller in Twenty20
AUSTRALIA BEATEN BY A WICKET ADELAIDE: Chris Woakes hit the winning run from the final ball to give England a one-wicket win over Australia in the first Twenty20 cricket international at the Adelaide Oval on Wednesday. Woakes scored 19 from 15 balls to guide the critical last stage of England's run chase as it replied with 158-9 to Australia's total of 157-4. The win gave England a 1-0 lead in the two-match series, the second of which is at Melbourne on Friday. Australia all-rounder Shane Watson almost single-handedly steered his side to victory, scoring 59 from 31 balls - the highest score of the match and taking 4-15 to hamper England's chase. Eoin Morgan top scored for England with 43 and Woakes showed composure beyond his years to steer his team home as it chased four runs from the last over. England seemed headed for a comfortable win as it reached
50 inside five overs in front of 32,000 fans, and on a ground on which it achieved one of its three wins in the recent fiveTest Ashes series. But Watson, already Australia's batting hero, almost turned the match when he struck with successive balls to remove the dangerman Morgan and Michael Yardy, prompting England's slump from 130-5 to 130-7 inside the 16th over. Watson also dismissed Tim Bresnan, who hit 11 from 11 balls, to deny England another of the strokemakers who might have made the late stages of the run chase more comfortable. England finally came to the last two overs needing 15 runs to win and with only two wickets in hand. Woakes and Graeme Swann combined to take 11 runs from the 19th over, bowled by Brett Lee, and to leave England needing four from the last six balls with two wickets in hand.-Reuters
Good news for local soccer academy LAHORE: Pakistan Football Federation has approved Model Town Footbll Academy (MTFA) Ground for National Camp in the build up of Pakistan Youth team to appear in the 2012 Olympic football Asian qualifying tournament. The Camp will be installed from 15 January to 4 February 2011 at the famous soccer Academy, located at Model Town C & D Block, Lahore. All players participating in the preliminary and final competitions of the Tournament shall be born on or after 1 January 1989. However, a maximum of three male players who do not meet this age limit may also be included in the list of players for the final competition only. The 2012 Summer Olympic Games, officially known as the Games of the Olympiad, are scheduled to take place in London, United Kingdom, from 27 July to 12 August 2012. London will become the first city to officially host the modern Olympic Games three times, having previously done so in 1908 and in 1948. Asian Football Confederation (AFC) has confirmed Asian entries for the qualifying rounds of the
London Olympics Football. Thirty-four teams, including Pakistan, will fight it out for three (or four) spots in the men's competition. Pakistan, gold medallist in age-limit events of SA Games at Islamabad 2004 and Colombo 2006, have been pitted against Malaysia - the first-ever meeting between the two countries at Olympic level with the first leg to be played in Kuala Lumpur on 23 Feb 2011 and the return leg in Pakistan on 9 March 2011. Both the nations faced each other six times in national level with matches recorded as FIFA-recognized internationals. The coming tie is one that Malaysian Youth will fancy winning as they are in fine touch. They are currently champions of both event in the Association of Southeast Asian Nations,[commonly abbreviated ASEAN. Second round of Olympic Qualifiers is scheduled for 19 and 23 June where Asia's 13 highest ranked teams will join the eleven winners from round 1.The twelve winners from the second round will be drawn into three groups of four teams each, playing six matches from 21 Sep 2011 to 14 March 2012.-Online
ADELAIDE: Eoin Morgan of England hits out during the First Twenty20 International Match between Austtalia and England at Adelaide Oval .-Reuters
Quaid Trophy Div-I final to be played under the floodlights ISLAMABAD: The final of the premier tournament Quaid-i-Azam Trophy will be played under floodlights at National Cricket Stadium, Karachi for the first time in the History of Pakistan Domestic Cricket, says a message received here. Colored balls will be used in this Division-I Quaid Trophy final that will be played from January 13 to 17. Habib Bank Limited (HBL) and Pakistan International Airlines (PIA), two of the most successful domestic cricket teams will fight for honours in the final. The new playing format is expected to herald a major change in the domestic cricket structure as it would be the first time that day-night cricket will be used in the longer version of the game. It is also hoped that the day-night game will attract large crowds and will help attract heightened interest in the longer version of the domestic game. Faysal Bank Limited will be sponsoring the event which will be their second major tournament after the hugely successful Faysal Bank T-20 tournament held in Lahore during October last year.-Agencies
Afridi kept skipper for ODI series against Kiwis KARACHI: All-rounder Shahid Afridi has been retained as Pakistan Captain for six match One Day International series against New Zealand starting later this month. Pakistan Test captain Misbah-ul-Haq has been appointed as Afridi's deputy, Pakistan Cricket Board (PCB) announced on Wednesday. Pakistan wicketkeeper
Kamran Akmal made a comeback in the team after nearly four months in wilderness to replace his younger brother Adnan Akmal. There was no other major surprise. However opener Ahmed Shehzad has also been picked in 16-member squad. Pakistan ODI squad is: Muhammad Hafeez, Kamran Akmal, Ahmed Shehzad, Younis Khan, Misbah-ul-Haq
(Vice Captain), Asad Shafiq, Umer Akmal, Shahid Afridi (Captain), Abdul Razzaq, Abdul Rehman, Saeed Ajmal, Shoaib Akhtar Umer Gul, Wahab Riaz, Sohail Tanveer and Tanveer Ahmed. The Tour Selection Committee for the ODI series will comprise of Manager, Coach, Captain and Vice Captain, PCB statement said.APP
India may host 2026 soccer WC : Blatter Monitoring Desk PANAJI: Fifa president Sepp Blatter has set tongues wagging in the sub-continent claiming India could be the next favoured destination to host the World Cup 2026. Fifa, the governing body for world football, shocked everyone choosing Qatar to host the 2022 event. But on Tuesday, Blatter dropped the biggest bombshell of them all. Speaking to a British newspaper, Blatter, known to put his foot in his mouth, said India's 1.2 billion
people were not just a market for football but for the economy as well. "If we have to identify new territories where football can be a better part of life, then definitely it is the subcontinent, India, where they have 1.2 billion people. India is a real power," said Blatter. Australia was also identified as an "obvious prospect". Blatter's comments, though, will have to be taken with a pinch of salt. Once the 2022 World Cup is played in Qatar, it is unlikely that the continent can host the next edition, as is Fifa's practice.
It is also unlikely that Blatter will be around as Fifa chief when the next round of voting takes place to select the World Cup hosts. India, currently ranked 142 in the world, has repeatedly struggled to make a mark on the international stage. On Monday, India played its first Asian Cup match in 27 years and ended 0-4 losers against Australia. India were invited to take part in the 1950 Fifa World Cup in Brazil but reportedly pulled out after the organizers made it clear that they wouldn't be allowed to play bare-footed.
Mani backs ICC tribunal verdict on Pakistan players
MELBOURNE: Maria Sharapova of Russia showcases her attire for the upcoming 2011 Australian Open at Crown Entertainment Complex .-Reuters
KARACHI: Former ICC President Ehsan Mani is happy with the way the anticorruption tribunal has handled the case of spot-fixing allegations against Pakistani players and feels that the suspended trio will be handed harsh punishment when final verdict will be announced next month. Mani, also a Pakistani, contended that it is a case which will have a huge impact on world cricket and hence backed tribunal's decision to push the final decision to February 5. Accoording to PTI, he also rubbished the fears over tribunal's ability to deal with
such a high profile case. "Anyone questioning the tribunal's credentials or impartiality is totally wrong. All the gentlemen on the tribunal are men of great esteem and from the judicial background. I have no doubt over their ability to give a verdict based on fairness and justice," Mani said. "It is good the tribunal is taking its time in reaching a verdict and wants to study all available material before it. This is a case the outcome of which will have a big impact on the future of international cricket and I don't think their should be any hurry in giving
a decision on the spot-fixing charges," he said. Mani feels that the suspended trio will be punished but said the players still had the right to approach the Court of Arbitration for Sport (CAS). "I have no doubt in the ability of Michael Beloff and his team. It's a high profile case and the delay was expected. Not to forget that the players have a right to approach the Court of Arbitration for Sport also, therefore the tribunal wanted to take sufficient time to analysis all angles of the case. "My gut feeling is that all the three will be harshly pun-
ished. However I will be very disappointed for Aamer who is the best young talent around," said Mani, who was ICC President between 2003 and 2006. Tauqir Zia, former PCB Chairman, also believes that the tribunal was likely to announce severe penalties against the three players. "The time the tribunal has taken over hearing the case and the elaborate arrangements made for the hearing. I believe it indicates there is plenty of evidence in this spot-fixing case and the players are in for a tough time," he.-Online
International & Continuation
Thursday, January 13, 2011
Record UK goods trade gap belies brighter signs LONDON: Imports of oil and aircraft pushed Britain's goods trade deficit to a record high in November, but an improvement in the underlying trend meant hopes of an eventual export-led recovery were not entirely crushed. The Office for National Statistics said Britain's goods trade gap widened to 8.74 billion pounds ($13.6 billion) in November from 8.59 billion pounds in October. This was the biggest deficit since monthly records began in January 1980, and confounded expectations for the gap to narrow. However the underlying deficit, which strips out volatile items like oil and aircraft, narrowed from October's record high. The improvement was driven by a sharp rise in car exports, suggesting firms were starting to feel some benefit from the relative weakness of the pound. Sterling fell immediately after the data, but recovered its losses as investors digested the detail of the report. "While the headline UK trade figures are once again disappoint-
ing, scratch beneath the surface and there are some encouraging features," said Howard Archer at INS Global Insight. Imports of aircraft and aircraft parts increased by 441 million pounds on the month -- a jump the statistics office said was related to a significant purchase of large aircraft from a non-EU country. Exports of cars rose by 353 million pounds in November while car imports fell. REBALANCING HOPES British policymakers have long predicted that the fall in sterling which began in mid-2007 would rebalance the economy away from its reliance on domestic demand -a shift that will be especially crucial in 2011 when public spending cuts start in earnest. Britain's surplus in trade in services improved, but not by enough to offset the widening deficit in goods. The total trade deficit -including both goods and services - increased to 4.123 billion pounds from 4.038 billion, its highest since August. "The big picture remains that the
external sector needs to start giving more support to the wider economic recovery if the UK is to weather the fiscal squeeze now underway," said Vicky Redwood at Capital Economics. Even before the data, economists were expecting British GDP growth to slow to around 0.4 percent in the last three months of 2010 from 0.7 percent in the third quarter. Growth in the first half of 2011 is forecast to be even weaker as the government starts to cut most departments' budgets by around a fifth. Total exports and imports both hit a record high in value terms, though imports rose faster. The oil balance swung back to a deficit of 660 million pounds after October's unusual 21 million pound surplus. "We are sucking in raw materials and semi-finished goods for manufacturers to bolt together, but at the moment we are not managing to export more than we are importing," said BNP Paribas economist Alan Clarke. "For now, that should be a dampener on growth."-Reuters
German 2010 growth fastest since reunification WIESBADEN: Germany's economy rebounded last year at its fastest pace since reunification but consumer spending stayed modest, leaving analysts and other euro zone states hoping a more balanced recovery would take hold this year. Gross domestic product (GDP) grew by 3.6 percent, preliminary Federal Statistics Office data showed on Wednesday, bouncing back from a 4.7 percent slump -- its steepest since World War II -- in 2009. The figure matched the midrange forecast in a Reuters poll of 22 economists. Economy Minister Rainer Bruederle talked up Germany's performance over the past 12 months saying Europe's dominant
economy had grown twice as fast as the average across the region. Separate data showing industrial output in the euro zone grew twice as fast as expected in November offered a glimmer of hope the rest of the currency bloc might soon catch up. But a 0.5 percent increase in consumption by German households provided little sign of the strong upturn in consumer spending that struggling economies in the region are hoping for as they look to boost their exports. There have been signs in recent months of such a rebalancing in the German economy, with a rise in imports helping narrow its trade surplus in November.
But in 2010 overall, the economy relied more for growth on traditionally strong corporate investment. "(Private) consumption is still relatively weak," said Gerd Hassel from BHF Bank. "Public consumption however rose very strongly because of the fiscal stimulus programmes. Investments grew strongly, also for equipment. Germany is on a good path." Investment in equipment surged 9.4 percent and other investments grew 6.4 percent, the data showed. But while exports rose 14.2 percent, imports surged 13 percent, and analysts said consumer spending should pick up strongly this year. -Reuters
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prits who have cheated innocent investors and to recover the Continued from page 12 No #1 Under the proposed agreement Pakistan-Bulgaria Inter- investors' savings which have been misappropriated/transGovernment Commission would be established to help ferred for the personal benefits of the sponsors, directors promote cooperation in economic, trade and other fields and their associated concerns. between the two countries. The Cabinet approved the draft No #8 Continued from page 5 of Pakistan Health Research Council (PHRC) Bill 2010. it has in store," Kotak Securities' Khade said. BNP Paribas The draft bill would allow the Council to carry out its expects Sensex-30 companies to report a 19.1 per cent yearmandate and academic-based research pursuits effectively on-year growth in revenue and a 20.2 per cent growth in and would enjoy the status of an autonomous organisa- profit. Top lender State Bank of India rose 2 per cent, while tion, with its own Board of Governors to be headed by the leading private lenders ICICI Bank and HDFC Bank gained Federal Minister for Health. The Cabinet approved in 4.5 per cent and nearly 3 per cent, respectively. Export-led principle to consider the inclusion of civil servants in the outsourcer Infosys Technologies , which is expected to raise conferment of National Civil Awards within the existing its full-year growth forecast when it releases quarterly system of decorating prominent personalities. results on Thursday, firmed 1.4 per cent. Rival Tata It was decided that the matter would be resubmitted Consultancy Services climbed 3.3 per cent. -Reuters after review by the Ministry of Law and Justice. On Continued from page 5 National Forest Policy, the Cabinet decided that this is an No #9 Heavyweight HSBC led the sector higher, up 3.8 per cent. inter-provincial Government Issue and would be dis"Obviously the Portuguese bond auction being successful cussed in the meeting of Council of Common Interests (CCI). The Cabinet also gave its approval for the Criminal helped to keep the market in the positive today, but we're Law (Amendment) Bill, 2010. According to Criminal Law not seeing a lot of flows going through," Martin Dobson, (Amendment) Bill, 2010 if any person, in committing or head of trading at Westhouse Securities, said. Insurers Legal and General and Aviva gained 2.8 and 3.1 attempting to commit robbery, causes death of any person in so committing robbery, or attempting to commit rob- per cent respectively, while mid-cap fund managers bery, shall be punished with death, or imprisonment for Gartmore and Henderson added 13.7 per cent and 9.3 per life, and shall also be liable to fine. -Online cent after the two announced a merger. Mining stocks tracked firmer metals prices, with Continued from page 12 No #2 Kazakhmys and Vedanta Resources, up 3.7 per cent and 4.3 government officials and citizens offered the funeral per cent respectively, also helped as Deutsche Bank upgradprayers. -Agencies ed the pair to "buy".-Reuters
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voting machines, and we will take the Opposition into con0.76 per cent, to 11,760.81. The Standard & Poor's 500 fidence in this regard. He said that government would cooperate with ECP for making it an autonomous body. -Online Index added 10.72 points, or 0.84 per cent, to 1,285.20. The Nasdaq Composite Index rose 15.66 points, or 0.58 per Continued from page 12 No #4 cent, to 2,732.49. Shares of ITT Corp surged more than 17 President Zardari spoke of his vision to take the country per cent to $61.93 after the diversified manufacturer said it forward and the efforts to put Pakistan on sound econom- would separate its businesses into three different publicly ic footing. He said it was Pakistan's security imperative to traded companies, and shareholders will own shares in all curb violent extremism, adding the country needed inter- the three corporations.-Reuters national support to implement a comprehensive strategy to Continued from page 5 fight militancy that also laid emphasis on economic devel- No #11 well above last week's average daily volume of 2.0 billion opment and job creation opportunities for the people. The President also acknowledged Biden's efforts and support shares. "High volume is something to focus on today. It for democracy and for supporting socioeconomic develop- means that long-term foreign investors, such as European ment of the country as an integral part of the fighting mil- pension funds, have come back to the market," said Shoji itancy. Farhatullah Babar quoted the President as saying Yoshigoe, senior investment strategist at Mitsubishi UFJ that Pakistan needed increased market access to the US Morgan Stanley Securities Co Ltd. "If volume keeps around markets and called upon the US to create a special catego- these levels for a little longer, more domestic players, ry for conflict affected countries under its GSP Plus pro- including retail investors, may come back to the market, gram. He reiterated Pakistan's call for the establishment of pushing it even higher." Banks and property shares led the Reconstruction Opportunity Zones in the country and an advance, as foreign funds continued adding underweight early adoption of legislation in the US in this regard. financial stocks to their portfolios and property shares were Pakistan's energy requirements also came under discus- in favour due to the Bank of Japan's asset buying scheme. sion. The President welcomed the setting up of Energy Mitsubishi UFJ Financial Group, Japan's biggest bank by Task Force and expressed the hope that Pakistan's energy assets, gained 3.6 per cent, while Sumitomo Mitsui issues will be addressed in a timely and focused manner Financial Group added 2.7 per cent and Mizuho Financial to overcome power crisis in the country. Group rose 3.1 per cent. The top three lenders were the President Zardari also thanked Vice President Joe Biden most actively traded equities by turnover on the Tokyo for his government's consistent support in rehabilitation bourse's first section.-Reuters of the last year's flood victims. He urged for continued US Continued from page 1 support for in the reconstruction rehabilitation phase as No #12 Afghanistan. The objective was to have a clear underwell. Appreciating Pakistan's fight against militants Vice President Joe Biden reiterated US support to democracy standing of what the US, Afghanistan and Pakistan want, in Pakistan and the country's stability. Biden assured that and how can they proceed towards achieving greater the new US administration would support Pakistan's regional peace. It was agreed that strategic alignment was efforts to strengthen democracy, countering terrorism and needed between Islamabad, Kabul and Washington to reach in meeting its developmental needs and capacity-build- a pragmatic solution as the first deadline of transition to ing. About drone attacks, the President said that it under- Afghan-led security in July 2011 approaches. According to the official source the United States was mined the national consensus against the war on militancy and reiterated Pakistan's call for transfer of drone tech- interested in finding out "Pakistan's bottom line" and its nology to be used by its own security forces against the "intentions" regarding Afghanistan. militants. Pakistani side included Amin Fahim, Federal Continued from page 1 Minister for Commerce, Ahmed Mukhtar, Federal No #13 and utilize these resources. He said that Pakistan being Minister for Defence, Rehman Malik, Federal Minister for Interior, Dr Hafeez Shaikh, Federal Minister for first nuclear Muslim state holds key position among regionFinance, M Salman Faruqui, Secretary General to the al and Muslim countries. The nuclear scientist said that forPresident, Hina Rabbani Khar, Minister of State for eign mining companies in their reports have revealed that Finance and Economic Affairs, Farzana Raja, Chairman copper and gold worth $104 billion was present in 8 kilomeBISP, Senator Syeda Sughra Imam, Farahnaz Ispahani, ters area of Reko Diq mines where the companies were Malik Asif Hayat, Secretary to the President, Foreign given license of four hundred square kilometers. Secretary Salman Bashir and Taimour Azmat Usman, Information Secretary. -Agencies
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Director General National Savings Zafar M Sheikh said talking to Financial Daily here on Wednesday. He said that a website is being launched to facilitate overseas Pakistanis for online investment into National Savings from all corners of the world. This initiative, he said would certainly attract overseas Pakistani workers to directly invest their savings in Pakistan as a result the flow of funds to Pakistan would increase.
The senior Congress leader said the two neighbouring countries may have "insurmountable problems" but Pakistan was India's "most important neighbour". "It is essential if we have to deal with our neighbour, we have to know what they are, who they are," Mukherjee said. "I do not believe a nation state can simply wither," Continued from page 1 Mukherjee said, in an apparent reference to apprehen- No #15 sions often expressed about the future of Pakistan as a Exploration and Production activities in the country, Syed nation. -Agencies Naveed Qamar said while talking to Dr Elmar Collins, the General Manager of OMV Exploration and Production Continued from page 12 No #6 Pakistan who called on him. Dr Elmar briefed the Minister He said that currently Iran trade with China, India and about the activities of the company in Pakistan. The UAE is on the rise as compared to Pakistan and the purpose Minister directed the concerned officials present in the of his visit was to look into those issues that are hampering meeting to take appropriate steps to facilitate and streamthe trade between the two countries. Minister informed that line E&P companies operating in Pakistan so as to bring the Iran has increased number of items in the PTA list to boost much needed hydrocarbon resources on stream and meet the current level of trade. He said that Pakistan can export the energy shortage of the country.-APP pharmaceutical products, Halal food and meat in the Iranian market that is currently being imported from No #16 Continued from page 1 Australia. He underlined the need of participation in the who were sent immediately by the District Iranian trade fairs and exhibitions and exchange of busi- Administration from Bannu city. Police and other lawness delegations. Iranian Commerce Minister stressed for enforcers in large number arrived on the blast site and put opening private banks in both the countries for speedy and security cordon around the blast site and helped in shifting effective transaction of business deals. the dead bodies and injured to the hospital. -Agencies The Vice President of Iranian Chamber of Commerce Continued from page 1 said 3 years ago, a Memorandum of Understanding was No #17 backing of more than a third of the ministers to bring down signed between the Federations of both countries, which should be activated to enhance the private sector linkage the government. The tribunal is widely expected to name to speed up trade activities. He further said that Pak-Iran members of Hezbollah in upcoming indictments, which Joint Business Council has been formed that would help many fear could re-ignite hostilities between Lebanon's rival in gearing up the trade activities. Shiite and Sunni Muslims. The Netherlands-based tribunal hasn't said who it will indict, but Hezbollah leader Sheik Continued from page 12 No #7 Hassan Nasrallah has said he has information that members shares/funds to the claimants. The brokers failed to remof his group will be named. Hezbollah has denounced the edy the situation, obliging the SECP to suspend registratribunal as an "Israeli project" and urged Western-backed tion of Eastern Capital Limited and four other brokers. Prime Minister Saad Hariri—the son of the slain leader—to Moreover, the SECP initiated enquiries against five broreject any findings by the court. But the prime minister has kers and appointed enquiry committees comprising offirefused to break cooperation with the tribunal. cers from the SECP, KSE and CDC. It emerged that the Continued from page 1 shares of the clients which were in control of Eastern No #18 Capital Limited for trading purposes only were moved, It may be recalled India had revoked import contract of pledged and transferred to other accounts, without any Pakistani importers in the wake of hike in prices of cotton authorization. in international market. -Agencies The shares were pledged with banks to obtain financing Continued from page 1 which were mostly used to liquidate liabilities of the bro- No #19 consumer sectors. 20 per cent earnings growth estimate kerage house resulting in total loss to the investors. Consequently, the SECP filed a criminal complaint in for 2011 excludes heavy weight OGDC, which is misleadthe court of Session Judge Karachi South against the ing the index. Eastern Capital Limited and others. This is the third crim- No #20 Continued from page 1 inal complaint against the brokerage houses involved in Haqqani said in an interview to a foreign business news illegal pledging of shares. The earlier two criminal com- channel here in Washington."There is no wavering in our plaints were filed against Capital One Equities Limited commitment to economic reform," he said.-Agencies and Cliktrade Limited. The SECP has also moved a referContinued from page 1 ence under Section 18(b)(i) of the NAB Ordinance, 1999 No #21 with a request to investigate the affairs of Capital One auctions against the target of Rs175 billion, receiving bids Equities Limited and Cliktrade Limited to punish the cul- worth of Rs191 billion.
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Election reforms set
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ISLAMABAD: Federal Minister for Finance, Dr Abdul Hafeez Sheikh meeting with Iranian Minister for Commerce.-APP
Zardari, Biden discuss strategic ties, regional security
Pak seeks special US trade category Committed to fighting, defeating terrorism, says Zardari ISLAMABAD: President Asif Ali Zardari calling for a close, stable, long-term and broad-based relationship between Pakistan and the United States for promoting peace, stability and progress in the region and beyond, said Pakistan is committed to fight extremists, and the fight would continue till the complete eradication of this menace. He also said that Pakistan was committed to fight terrorism and underlined the need for support and understanding of the international community in this effort. This he said while talking
NA body endorses ‘Carriage Bill 2010’ ISLAMABAD: The National Assembly Standing Committee on Defence on Wednesday unanimously passed "The Carriage by Air Bill 2010". The committee met under the chairmanship of Dr Azra Fazal Pechuho, MNA at the Parliament House. The meeting was attended by Rai Ghulam Murtaza Kharal, Nawab Abdul Ghani Talpur, Dr Abdul Wahid Soomro, Mir Amir Ali Khan Magsi, Sardar Mehtab Abbasi, Dr Talat Mahesar, Syed Haider Ali Shah, Malik Nauman Langrial, Jawad Hussain and Shagufta Sadiq, MNAs. Additional Secretary Ministry of Defence, Project Director, GM (Legal) Civil Aviation Authority also attended the meeting. -APP
SECP takes brokerage house to court ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal complaint in a court against Eastern Capital Limited, ex-member of the Karachi Stock Exchange (KSE) and all those, including its director, involved in non-transfer of shares/funds and unauthorized pledges of client's shares and other prohibited activities under Section 24(2) of the Central Depositories Act 1997 as well as offences under relevant provisions of the Pakistan Penal Code (PPC). The warrants for all the accused have been issued. The SECP received numerous complaints/claims against five KSE brokers mainly pertaining to the alleged nontransfer of shares and non-payment of funds. The SECP directed the brokers to expedite resolution of complaints/claims and issued instructions for the immediate transfer of See # 7 Page 11
with Vice President United States of America (USA) Joseph R Biden who called on him here in the Presidency on Wednesday. US Vice President was accompanied by Anthony J Blinken, National Security Advisor to the Vice President, William Burns, Herro Mustafa and Allison Melia. US Ambassador in Islamabad Cameroon P Munter and Acting US Special Representative for Afghanistan and Pakistan Frank Ruggiero were also present. Bilateral matters, fight against militancy and
regional situation came under discussion during the meeting. Briefing the media, spokesman to the President Farhatullah Babar quoted the President as saying that the Pakistan is committed to fight and defeat extremists and terrorists of all hue and the fight against them would continue till the complete eradication of this menace. The President said that a handful of militants and extremists would never be allowed to impose their vicious agenda on the people of Pakistan. See # 4 Page 11
ISLAMABAD: Federal Cabinet on Wednesday gave its approval for the Election Laws (Amendment) Bill 2011 which will help to hold free, fair and transparent elections in the country and ensure security and integrity of the database of the electoral rolls. The meeting of the Federal Cabinet was held under the chairmanship of Prime Minister Syed Yousuf Raza Gilani at Prime Minister Secretariat here.
The meeting offered Fateha for the departed souls of governor Punjab, Salman Taseer and former Interior Minister, Naseerullah Babar. Eulogising their services for the nation, the Cabinet paid glowing tributes to both the national leaders. The cabinet expressed grief on the brutal murders of Governor Punjab, Salman Taseer and the elderly parents of the senior most judge of the Supreme Court, Justice Javed Iqbal.
The Cabinet was unanimous in condemning both the incidents. The Prime Minister ordered the relevant authorities to inquire into the circumstances that led to such gruesome acts of violence so that the perpetrators can be tried in accordance with the existing laws of the state. The Cabinet reviewed implementation status of Cabinet decisions pertaining to ministries of information and broadcasting, labour and man-
power, information technology and telecom and interior. It was observed that 75 per cent of the decisions have been implemented while the remaining is under implementation, awaiting completion of formalities and consultation with relevant stakeholders. The Cabinet accorded approval to the signing of agreement between Pakistan and Bulgaria for economic cooperation. See # 1 Page 11
Government
Justice Javed Iqbal's parents laid to rest
will follow ECP orders, says Kaira
Police initiates forensics probe
ISLAMABAD: Federal Minister for Information Qamar Zaman Kaira has cleared that Election Commission of Pakistan (ECP) demanded only his graduation degree. Talking to media after attending a meeting in ECP, he said that Election Commission did not declare his credibility as suspicious and Commission never had asked him for any degree with the exception of graduation degree. He said Parliamentary committee will soon be constituted for reorganising the ECP, and government is bound to implement ECP orders. Kaira said that legislation would be made for computerised voter-lists and electric See # 3 Page 11
FIR registered against unknown stranglers LAHORE: First Investigation Report (FIR) has been registered against the unknown stranglers of Justice Javed Iqbal's parents in the Factory Area police station Lahore. Parents of Justice Javaid Iqbal of Supreme Court have been murdered by unknown persons at their house in Cavalry Ground Lahore on Tuesday night. As per details, SHO Aamir Sheikh told to private TV channel that, on the complaint of brother of Justice Javed Iqbal an FIR has been registered against the unknown killers of his parents. The case has been
registered under the section 302. A team of senior officers of Forensic Science laboratory and experts have reached at the house of Justice Javed parents' in Lahore, where they will collect the samples. Neyer Mahmood is leading the team of 5 experts of Forensic Science laboratory. Meanwhile, the post-mortem has ascertained that deceased had been strangled to death and that they died within 20 seconds. Sources added experts will get the samples in order to get information regarding the num-
bers of killers. Meanwhile, parents of Justice Javed Iqbal were laid to rest in graveyard near Firdous Market in Gulberg area in Lahore on Wednesday afternoon. The funeral prayers were offered at Jamia Masjid Asghari near Kalma Chowk in Lahore. Hundreds of people, including prominent politicians Governor Punjab Latif Khosa, Chief Minister Shahbaz Sharif, former Amir Jamaat-e-Islami Qazi Hussain Ahmed, PPP Secretary General Jehangir Badar, judges and lawyers, See # 2 Page 11
Let's burry hatchet: India to Pakistan NEW DELHI: Citing the collapse of the Berlin Wall that unified Germany, Finance Minister Pranab Mukherjee said that differences between India and Pakistan may be resolved one day since the two cannot wish each other away and live in "perpetual tension". "I do not have the capacity to indulge in the romanticism that like Berlin Wall, one day the differences may go. How the course of history will take turn, nobody can predict with that precision. It may happen", he said here at the launch of eminent journalist MJ Akbar's book "Tinderbox-The Past and Future of Pakistan." He said the collapse of the Berlin Wall and formation of the European Union were not foreseen but took place. "Yes, the Berlin Wall collapsed. Yes, the EU has come together, which began with a limited approach and objective of having some trade relations. It has united side-by-side there are other examples also which we have seen with our own eyes - how a mighty unified structure (Soviet Union) has collapsed just after seven decades. "See how a composite state created
after the World War II has dismembered into three or four states within a short span of 10-15 years," Mukherjee said. The senior Congress leader said one can be selective in choosing friends but not neighbours. "Most of us will agree that we cannot wish away our neighbours. We can choose our friends; we can be selective in choosing our friends, but neighbours are there where they are. We cannot simply wish them away. Those days are gone when one could have displaced them by force," Mukherjee said. Describing Pakistan as India's "most important" neighbour, he said, "The stability and well-being of Pakistan" is in the interest of this country as the two could not develop and prosper in isolation today. "The basic question before every Indian policymaker is whether we should live with our neighbour in perpetual tension or try to live in peace. And fortunately, there is a broad consensus across the political spectrum on these issues," Mukherjee said. See # 5 Page 11
Pak-Iran JTC to help boost trade: Fahim
Greater Iranian mkt share eyed ICCI demands tariff cuts, concessions ISLAMABAD: Iran and Pakistan have great potential of boosting trade, whereas private sectors of both countries should come forward to exploit trade opportunities. People-to-people contact should be enhanced and trade, social and cultural bonds must be strengthened, Mehdi Ghanzanfari, Minister of Commerce of Iran, has said while addressing a meeting at Islamabad Chamber of Commerce & Industry. He was of the view that though the trade between the two countries is picking up the momentum which has crossed one billion dollar figure, but Iranian side should look at the issue of high tariff and non-tariff barriers that are hampering Pakistan's exports to the Iranian market. He said that import duties on Pakistan's textile and garments and surgical goods are more than 50 per cent which should be reduced to give more access to Pakistani main exportable
products. Because of strict restrictions, smuggling is on the rise and according to unofficial sources the annual informal bilateral trade is estimated at US$1 billion. Therefore, tariff walls should be brought down to route the trade through regular channels, ICCI President added. He said that Western media is doing negative propaganda against Iran to impose sanctions against them but the countries which were in the favour of sanctions are at the same time, enhancing trade with Iran. Despite this propaganda the trade with the Western countries had increased by 20 per cent, he maintained. The Minister said that Iran has more than 150 billion US dollars of exports and its imports are 50 billion US dollars, and now Iran is looking to enhance trade relations with the Asian countries, instead of western world. See # 6 Page 11
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