International Karachi, Saturday, November 13, 2010, Zil Hajj 6, Price Rs12 Pages 12
CID office attack not result of security lapse: CM Sindh
Army refutes any gun pointing incident at federal ministers G20's fiscal guard to hold harder yardsticks
See on Page 12
See on Page 2
Gilani says won’t anyone bulldoze Parliament
Economic Indicators Forex Reserves (5-Nov-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Sep 10) Revenue (Jul 10-Oct 10) Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Sep 10) LSM Growth (Aug 10)
GDP Growth FY10E Per Capita Income FY10 Population
$16.95bn 14.17% $7.17bn $12.25bn $(5.08)bn $(545)mn $3.50bn $455.10mn Rs 411bn $58.41bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 171.03mn
RGST bill tabled amid utter outcry ‘All CMs taken into confidence over the the bill’
Portfolio Investment SCRA(U.S $ in million)
120.97 Yearly(Jul, 2010 up to 10-Nov-2010) Monthly(Nov, 2010 up to 10-Nov-2010) 16.25 32.54 Daily (10-Nov-2010) 2532 Total Portfolio Invest (22 Oct-2010)
NCCPL (U.S $ in million)
FIPI (12-Nov-2010) Local Companies (12-Nov-2010) Banks / DFI (12-Nov-2010) Mutual Funds (12-Nov-2010) NBFC (12-Nov-2010) Local Investors (12-Nov-2010) Other Organization (12-Nov-2010)
2.05 -3.00 -1.80 2.53 0.29 0.28 -0.35
Global Indices Index Close KSE 100 10,874.02 Nikkei 225 9,724.81 Hang Seng 24,222.58 Sensex 30 20,156.89 ADX 2,758.44 SSE COMP. 2,985.44 FTSE 100 5,806.74 *Dow Jones 11,212.79 *Last Updated 20:00 PST
Change 31.22 136.65 477.72 432.20 3.22 162.30 8.49 70.31
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 111.02 19.30 164.82 2.00 42.70 1.70 36.30 10.07 34.40
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
03-Nov-2010 03-Nov-2010 03-Nov-2010 29-Sep-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010 12-Nov-2010
12.75% 13.11% 13.24% 13.50% 12.79% 12.97% 13.23% 13.63% 13.71% 13.64% 13.74% 13.82% 14.21% 14.33% 14.50%
Commodities *Crude Oil (brent)$/bbl 86.98 *Crude Oil (WTI)$/bbl 85.69 *Cotton $/lb 134.64 *Gold $/ozs 1,385.50 *Silver $/ozs 26.80 Malaysian Palm $ 1,077.00 GOLD (NCEL) PKR 38,193 KHI Cotton 40Kg PKR 10,181 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 83.00 Canadian $ 83.40 Danish Krone 15.90 Euro 114.80 Hong Kong $ 10.95 Japanese Yen 1.023 Saudi Riyal 22.35 Singapore $ 64.80 Swedish Korona 12.85 Swiss Franc 87.00 U.A.E Dirham 22.95 UK Pound 135.50 US $ 85.05
84.00 84.40 16.40 116.30 11.15 1.049 22.65 65.80 13.00 88.00 23.30 137.00 85.45
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
84.72 84.62 15.58 116.13 11.00 1.036 22.74 65.81 12.42 87.38 23.22 137.25 85.40
84.92 84.82 15.62 116.40 11.03 1.038 22.80 65.96 12.45 87.58 23.28 137.57 85.59
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
27°C 34°C 28°C 28°C 23°C 28°C
MIN
8°C 23°C 13°C 11°C 1°C 11°C
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GAUNGZHOU: President Asif Ali Zardari during the banquet hosted by the Guangdong city leadership at Baiyan International Convention Center. -APP
Govt sees 3.7mn tonne sugar in 2010-11
Sugar output outlook upped ISLAMABAD: Government has revised a forecast of 201011 sugar production to 3.7 million tonnes, up by about 500,000 tonnes from an earlier estimate, despite flood damage to the sugarcane crop, officials said on Friday. The authorities had earlier expected up to 3.2 million tonnes of sugar from the crop, after the country's worst floods washed away nearly 10.5 million tonnes of sugarcane. But after recent surveys of the flood-hit areas in the main sugar-growing provinces of Punjab and Sindh, government and industry officials told a meeting on Thursday that yield would be higher in areas where there were rains but no floods.
"Although floods damaged the crop, because of excessive rains we are expecting a healthy crop and up to 20 per cent increase in yield per acre," Javed Kayani, chairman Pakistan Sugar Mills Association (PSMA), told Reuters. "Our estimate is that we should be able to produce about 3.7 million tonnes of sugar from the crop." An official at the Ministry of Industries and Production confirmed that sugar output estimates had been revised to 3.7 million tonnes. Fearing shortages, the government in September waived a 25 per cent regulatory duty See # 5 Page 11
Govt needs liquidity immediately: finmin
Shaikh rationalises new levies, tax hike ISLAMABAD: Finance Minister Abdul Hafeez Sheikh Friday said the government immediately needs additional local resources to ease the pressure on the budget, therefore Reformed GST, flood surcharge are being introduced and federal excise duty has been increased. Relating the objectives and reasons of Finance (Amendment) Act, 2010 in the National Assembly, the finance minister said a large number of
people had been rendered homeless due to floods therefore additional funds were required to meet the extraordinary demands for expenditures in connection with rehabilitation of flood affectees. Therefore, it has been proposed to amend certain provisions of the Income Tax Ordinance 2001 and the Federal Excise Act 2005 through Finance (Amendment) Act-2010 Bill. See # 7 Page 11
Chinese auto-titan turns head to Pakistan GUANGZHOU: Chairman Guangdong Automobile Industrial Group (GAIG) Zhang Fangyou Friday called on President Asif Ali Zardari here and voiced keen interest for exploring business opportunities in Pakistan. The President was accompanied by the Chairman Board of Investment Saleem Mandviwala and delegation members including Minister of State for Foreign Affairs Nawabzada Malik Amad Khan, Chief Minister Gilgit Baltistan Syed Mehdi Shah, Ambassador to China Masood Khan, and Spokesman to the President Farhatullah Babar. President Zardari informed the head of the Chinese See # 6 Page 11
NAB froze NICL scam suspect’s account not FIA, says spokesman ISLAMABAD: National Accountability Bureau (NAB) had frozen the bank account of former Minister for Defence Major (Retd) Habib Ullah Warraich in the NICL scam not FIA, a spokesman of the NAB told media on Friday. According to the spokesman it was NAB which had carried out the freezing of Major See # 8 Page 11
ISLAMABAD: The Reformed General Sales Tax (RGST) 2010 Bill was tabled before the National Assembly on Friday amid severe MQM and Opposition protest. The Finance Amendment Bill 2010 was also tabled before the house for implementation of flood surcharge and increase in federal excise duty. Both the bills were tabled in the house by Finance Minister Senator Abdul Hafeez Shaikh. As soon as he stood up to table the RGST Bill 2010 all the Opposition benchers stood up from their chairs and started thumping desks while shouting 'RGST unacceptable' slogan. Prime Minister Yousuf Raza Gilani was also present at the rumpus of a session. Amidst the uproar Shaikh tabled the RGST Bill 2010 and Finance Amendment Bill 2010,
which were forwarded to Standing Committee on Finance. The Standing committee would review the Bill and report back to National Assembly soon. Later the speaker adjourned the session ‘sine die’ and read the President's orders in this regard. Earlier speaking on a point of order Opposition leader in the National Assembly Ch Nisar said that the Reformed GST Bill should have been presented before Parliament after taking all political parties including the opposition into confidence. He said that government takes decisions in the wee hours of the night. He argued that Opposition was not taken on board regarding Reformed General Sales Tax (RGST) 2010 bill terming the finance
Security tightened at all investigation centers
Karachi terror, LeJ job: Malik Funeral prayers of martyred FC personnel offered while he urged the people at large to stay calm. Meanwhile, the funeral prayers of 8 FC personnel martyred in the Karachi CID office bomb blast were offered here at police headquarter garden. Sindh government has announced a compensation of Rs500,000 for the heirs of each martyr. Interior Minister Sindh Dr Zulfiqar Mirza, IG Sindh Sultan Salah Uddin See # 2 Page 11
ISLAMABAD: Federal Interior Minister Rehman Malik Friday blamed Lashkare-Jhangvi for the attack on Karachi CID building. Talking to media men outside Parliament House, he vowed to root out terrorism from the country by taking strict action against the enemies of state. "Taliban want to trigger panic and fear among the people", he said. Malik again warned the culprits of grave consequences,
UN $2bn flood-aid call answered 45pc UNITED NATIONS: UN has said the $2 billion aid appeal for Pakistan’s flood victims, the largest-ever launched by any international body for a natural disaster, now stands funded by 45 per cent . To a question at the regular
noon briefing, Spokesman Farhan Haq said although the response to the appeal was improving, the United Nations continues to urge the international community to provide more funding. See # 4 Page 11
minister's status in the House as a mere guest. He said that this bill would bring a tsunami of inflation, it would be better if new taxes were imposed on landlords. Speaking on the floor Prime Minister Yousuf Raza Gilani said that the democratic government has not come through the backdoor, adding we would let anyone bulldoze the Parliament. He told the house that that all Chief Ministers have been taken into confidence over the RGST. Meanwhile JUI-F taking the cue form MQM turned to oppose RGST in the Senate. Slogans saying 'RGST unacceptable' were shouted in the Senate till its session was adjourned for indefinite period. Senator Nair Bukhari presented the copy of the RGST See # 1 Page 11
Jiabao to visit Pakistan next month GUANGZHOU: Chinese Premier Wen Jiabao will visit Pakistan next month, Beijing said Friday. "We are looking forward for establishing contacts between the political leadership of the two countries," said Chinese Premier during bilateral meeting with President Asif Ali Zardari on the sidelines of the 16th Asian Games. There were two rounds of talks, the first with aides of both sides and the second a thirty minute one-on-one meeting between the two leaders which was attended by Ambassador Masood Khan also. During the talks President Asif Ali Zardari called for a currency swap agreement and taking full advantage of the Free Trade Agreement to take the bilateral trade between the two countries up to $15 billion soon. Earlier the President and his See # 3 Page 11
2
Saturday, November 13, 2010
Dr Baig to attend growth forum
KARACHI: Talat Mahmood, Senior Vice President, Karachi Chamber of Commerce & Industry presenting KCCI Crest to Rossalis R Adenan, Consul General of Indonesia. Also in picture, Indonesia’s Consul for Econmics, Muhammad Aslam Firpo, Dr Qazi Ahmed Kamal, Munir Ahmed Godil, Durre Shewar Nisar, KCCI Managing Commitee Members.-Staff Photo
DPS holds elocution competition KARACHI: Elocution Contest foster the thinking and analytical skills among students and provide an opportunity for students to develop their powers of elocution and manner of expression, thus creating a more progressive society. These views were expressed by panel of judges at bilingual elocution competition held recently at Dawood Public School. Experts said that such competitions help students mastering the expression and language they speak in and fine tunes their powers of persuasion. It also provides healthy interaction among students of different schools as fifteen school participated in the competition. -PR
ACEP demands PEC to probe Shershah incident KARACHI: Association of Consulting Engineers Pakistan (ACEP) and the Institute of Engineers Pakistan (IEP) has urged the government to involve Pakistan Engineering Council (PEC) in the inquiry of Shershah bridge collapse. Addressing a joint press conference here Friday, president ACEP Inam Ahmed Osmani and Chairman IEP, S Jamshed Ali Rizvi said that PEC is the only authorised body to hold inquiry into the professional conduct of registered engineers, consulting engineers and other professionals. They said that PEC is
statutory body having a power to constitute tribunals, as may be required to hold such inquiries. PEC's constituted tribunal can recommend imposition of penalty on the engineers and can also recover as compensation an amount not exceeding the amount received by the respondent from the complainant. Osmani said that the associations have also requested the Chief Justice of Pakistan to involve PEC in the inquiry and his response is awaited. He said that the government can ask PEC to conduct inquiry into this matter and submit a report of findings. He pointed out
that only three, out of seven members of the inquiry team have signed the report which appears not to be in compliance with international standards on forensic engineering investigation as required in this particular case. Osmani was of the opinion that handling of matter by police will not serve the purpose as it involves technical nature of the subject. The persons identified in the report and the FIR are honorable and respected professionals who have vast experience of designing and supervising hundreds of excellent bridges and other structures in the past, he added.-Online
'Taxes may derail democracy' TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere 11:10 Mohaaz (F) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:05 Naram Garam
SATURDAY Time 8:00 9:05
Programmes Chai Time (Rpt) Smithsonian Documentry 10:05 Dilkash Pakistan 10:30 Sara jahan(Rpt) 11:15 Karobari Duniya(Rpt) 12:00 News 12:05 Siyasat Mana Hai (Rpt) 13:00 AM News 13:05 Islamabad Say (Rpt) 14:00 News 15:00 News 15:05 Doosra Pehlu (Rpt) 16:00 News 16:05 Filmi Samaa(rpt) 16:30 Red Carpet (Rpt) 17:00 News 17:05 Aap Ka Paisa (Rpt) 17:30 Pakistan This Week 18:00 News 18:05 Sara jahan(Rpt) 18:30 Dilkash Pakistan 19:00 News 19:30 Tijarti Dunia 20:00 News 20:05 Kamyab 21:00 News 21:05 Teesri nazar 22:00 News 22:05 Agenda 360 23:05 Music Scene 23:30 Uff Tv 0:00 News
KATI slams imposition of RGST Staff Reporter KARACHI: Korangi Association of Trade and Industry (KATI) has categorically rejected the government's intention to impose flood tax and Reformed GST which is set to bring another flood of price hike and any such act of government would result in irreparable loss to the economy. The Patron In-Chief KATI, Chairman, Syed Johar Ali Qandhari, Chairman, Standing Committee on Finance and Taxation, Mian Zahid
Mass transit programme talked over for Karachi KARACHI: Officials of Japan International Cooperation Agency (JICA), Sindh Board of Investment (SBI) and Karachi Mass Transit on Friday discussed the creation of Karachi Education City Mass Transit Programme and subsequently its inclusion into Karachi Mass Transit Programme (KMTP). Advisor to CM on Investment Zubair Motiwala presided over the meeting which also examined the proposal to connect this mass transit scheme with Japan special economic zone, livestock economic zone, Karachi marble city, Fisheries economic zone and Port Qasim. Station facility expert of JICA Hiroyasu Kudo, deputy team leader Naoki Yamaguchi, Toshiaki Hori, director general KMTP, Malik Zaheerul Islam were also present on the occasion.-APP
Husain, Vice Chairmen, Salimuz Zaman and Shahid Javed Qureshi in a statement said that the business community had already opposed to any new tax considering the grim situation of the economy and the growing unemployment in the country. They said that the stakeholders have not taken into confidence and it is being imposed without any proper consultation with trade and industry's representatives and it could have a disastrous impact on already ailing economy.
"The RGST will encourage tax evaders instead of bringing more tax-payers into the tax net due to its haphazard way of implementation", Qandhari said adding that no government measures could be successful if implemented proper exercise or taking the stakeholders into confidence. Qandhari while rejecting Flood Tax said that the people who are already overburdened due to skyrocketing prices and struggling for survival would not be able to pay any further tax.
Code of conduct for hides collection KARACHI: The Home Department Sindh has issued code of conduct for collection of hides and skins of sacrificial animals during Eidul-Adha. According to statement of Home Department issued here Friday, a meeting was held by the Home Secretary with all the representatives of various religious and welfare organisations to formulate code of conduct. It was decided that all those organisations involved in the collection
of hides and skins will have to seek prior permission from the Home Department or the concerned area DCO. Only the registered parties/organisations and those signatories of the code of conduct, will be allowed to collect the skins and hides. According to the code of conduct, it will also be ensured that the hides and skins were being collected under coercion from any quarter and that public could give donation on their own will.-APP
KARACHI: METRO Cash & Carry Pakistan celebrated its 3rd anniversary in Pakistan. On the occasion a lucky draw event was held for its customers for instant prizes. Seen in the picture is the lucky winner of the grand prize, a car, with the top management of LG Electronics.-Staff Photo
KARACHI: Dr Mirza Ikhtiar Baig, Federal Advisor on Textile, and Chairman Baig Group has been invited by Federal Minister for Finance Dr Hafeez Shaikh to attend Pakistan Development Forum (PDF) on 14th & 15th Nov in Islamabad. The forum will be addressed by Secretary of State for International Development UK Andrew Mitchell, US Special Representative for Afghanistan &Pakistan Richard Holbrooke, Vice President World Bank, Vice President Asian Development Bank, Representative of IMF, Representative of United Nations. Senior Economists and Governor SBP would also attend the forum to discuss state of economy, challenges and reforms. The forum will also focus on how to deal with current economic challenges both fiscal and monetary and long term agenda towards growth and sectoral reforms. The Finance Minister will present to the world, Pakistan strategic plan as dialogue with the partners to realign their strategy.-APP
Dell patrons WizKids contest KARACHI: Dell Consumer actively cosponsored Wizkids 2010, a regular event since 1997 and South Asia's largest literary and cultural interschool competition, which was recently held in Pakistan for the first time. Being ardent Dell fans, a winner exclaimed that a new Dell Mini Laptop is anyone's best friend in an "online life". Other winners also displayed their enthusiasm by labeling Dell as their favorite brand and the Dell Mini Laptop as a prized possession, which would help them to achieve their future goals in a demanding life on the go. In its continued effort to support educational activities Dell collaborates with various partners, aligned with Dells strategic vision, to further the future of education in Pakistan. The event was based on 10 unique competitions, ranging from quizzes to short story writing and judged by a panel of celebrities, industry professionals and corporate leaders.-PR
Growers urge to facilitate agri-sector HYDERABAD: Sindh Chamber of Agriculture has called for provision of facilities to agriculture sector similar to those endowed to the industrial sector in the country. "Growers should be provided veritable loans on their agricultural land," a meeting of Sindh Chamber of Agriculture presided over by Syed Nadeem Kamar here on Friday demanded. The meeting noted that although the price of DAP fertilizer had increased by 10 per cent in the international market but the local companies were selling the same product at a much expensive rate allegedly after creating its artificial shortage. The government should take stern action against creating shortage of fertiliser in local market,it demanded. Among other growers, Mir Murad Ali Khan Talpur, Muhammad Anwar Bachani, Muhammad Khan Sarejo, attended the meeting.-APP
Pak, Indonesia to boost 2-way trade Staff Reporter K A R A C H I : Establishment of Pakistan Indonesia Business Forum (PIBF) is under consideration to help boost two way trade and investment, Consul General of Indonesia Rossalis R Adenan informed business community here. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he said that under the proposal President of KCCI will be the Chairman of the forum and its official will be located in Karachi. He said that final decision in this regard would be made by Ambassador of Indonesia soon. The Consul General said that Indonesia enjoying best cordial, economical and sentimental relations with Pakistan. Referring to
trade balance, which is in favour of Indonesia, he emphasized the need of making efforts from both the sides to narrow down this gap. He was of the view that frequent exchange of trade delegation, quick dissemination of business, trade and investment informants can play a vital role to bridge trade balance gap as well as boost two way trade. Replying to a question, he said Indonesia using bio power generating technology for electricity generating beside gas, oil and coal. To another question, Rossalis R Adenan said that Indonesian government had allowed reduction in taxes, bank mark-up were slashed down and given industrial sectors tax holidays to bring the country out of economic crises in 1993.
He advised business community to visit Indonesia to see the existing opportunities and develop person to person contacts. Senior Vise President KCCI, Talat Mehmood said that the government is making efforts to improve law and order condition for attracting foreign investors. He invited Indonesian business delegation to visit Pakistan and have a look of existing opportunities of trade and investment. Trigustono Suprianto, Indonesia's Consul for Economics, Muhammad Aslam Firpo, Dr Qazi Ahmed Kamal, Naeem Ahmed, Munir Ahmed Godil, Liaquat Shaikh, Durre ShehwarNisar, KCCI Managing Committee Members were also present at the occasion.
KARACHI: Atif Bajwa, President & CEO of Soneri Bank addressing the managers of the south region and senior Executives of Soneri Bank.-Staff Photo
Tanners reject the levy of new taxes KARACHI: Khurshid Alam, Chairman, Pakistan Tanners Association strongly criticised the Government decision to implement Reformed General Sales Tax (RGST) with effect from 1st January'2011 along with imposition of 10 per cent flood surcharge which are the highly detrimental to the leather industry, the second largest export oriented industry in term of foreign exchange earnings. He said the Government instead of safeguarding the interest of traders and exporters is fully attentive
to the directives of the IMF. Khurshid stressed the Government to put off the measures and withdraw its un-business friendly decision of implementing RGST as well as flood surcharge. He said that the leather industry is already paying huge amounts of Rs15-16 Billion on account of various taxes to the Government. If the RGST is imposed, the industry will come under great pressure by paying additional tax approximately Rs.119 billion on this account. It is the need of hour, the
Government should take stock of this alarming situation and get the leather industry rid from heavy financial burden otherwise most of the leather manufacturing units will have to be closed down. He said that the PTA time and again apprised the Government of genuine proposals/issues of leather industry which include exemption of already declared five zero rating sectors including leather industry from the RGST but no attention has been paid by the Government as yet.-APP
LAHORE: President, American Business Forum, Rizwan U Khan hosted a dinner in honour of the newly appointed US Ambassador His Excellency Cameron P Munter and his wife at the Royal Palm Golf and Country Club.-Staff Photo
KARACHI: Administrator DHA Brig Aamer Raza Qureshi presiding over a meeting of renowned town planning and desiging experts engaged in master planning of DHA City Karachi project on Super Highway.-Staff Photo
KARACHI: German Ambassador Dr Michael Koch and the German Counsel General for Karachi visited Aman Foundation along with the Regional Director of GTZ, the German technical development agency.-Staff Photo
3 Saturday, November 13, 2010
Swiss franc rises vs euro ZURICH: The Swiss franc rose against the euro on Friday, tracking the dollar higher as the single currency continued to slide on fears Ireland may follow Greece in requiring a bailout. The franc has gained over 3 per cent against the euro since the beginning of November, when concerns about euro-zone debt began to resurface, and early on Friday's session hit its highest level since late September. The franc rose 0.3 per cent against the euro compared to the New York close, trading at 1.3279 francs per euro at 0826 GMT. The franc was largely unchanged against the dollar at 0.9745 francs per dollar. The franc's renewed surge against the euro is likely to give a headache to the Swiss National Bank, which tried to fight the currency's rise through interventions earlier this year. Reuters
Euro climbs as EU leaders reassure bondholders Trade volatile on speculation and denial of Irish bailout NEW YORK: The euro rallied on Friday from a six-week low against the dollar after Europeans leaders sought to reassure nervous bondholders about the value of their holdings. A statement from France, Germany, Italy, Spain and Britain, issued at the Group of 20 summit in Seoul, said bondholders would not be forced to write down the value of their holdings in the event of a new euro-zone bailout. That eased pressure on Irish debt that has sparked fresh fears of contagion. The euro responded to steady buying by macro funds as the cost of insuring Irish, Spanish and Portuguese debt against default fell. Speculation of a rescue package for Ireland added to
the euro's allure earlier in the global session. This was later denied and the single currency fell from the session peak. The euro rose to a session
last week have been unwound heading into the year-end book-closing season. Analysts said the communique from Group of 20 lead-
high of $1.3777, well off the session low of $1.3573 on EBS. It last traded at 1.3721 on Reuters data, up 0.5 per cent. The euro has shed over 2 per cent this week, the biggest weekly loss in three month, as long positions built before the Fed's bond buying decision
ers meeting in Seoul was mildly positive as it agreed to tackle tensions that have threatened "currency wars" and trade protectionism. The G-20 seemed to give the green signal to emerging countries with flexible currency regimes to impose capital controls.
Asian currencies
Mostly weaker against rebounding $, peso gains Markets brace themselves for more capital curbs post-G20 SINGAPORE: A rebound in the US dollar and widespread risk reduction weighed on most emerging Asian currencies on Friday, and uneasiness among investors about more capital curbs could keep pressure on them in the near term. Policy changes in the Philippines, China and Taiwan in the last few weeks to guard against rapid currency appreciation from capital inflows have increased uncertainty about what else authorities may do. This uncertainty looks set to continue following a Group of 20 leaders' summit in Seoul that practically gave countries that have seen huge capital inflows
Previous Day
the go-ahead to impose more controls. The South Korean won posted its biggest daily percentage loss against the dollar in almost five months on mounting fears that financial authorities will take further action to slow hot money inflows. The Philippine peso bucked the weakening trend after S&P raised their foreign currency sovereign credit rating on the Philippines. The Philippine peso rebounded on news that S&P upgraded its foreign currency rating to BB/B from BB-/B, affirming a stable outlook. It gained 0.26 per cent to 43.76/USD at 0741
GMT, reversing earlier losses on dollar short covering from the weaker euro overnight. "Some market players were probably taking long positions on the USD/PHP earlier today, before the S&P announcement," a Manila-based trader said. "But everybody's selling now." The won came under further pressure from dollar-short covering and dollar demand linked to foreign investors' stock sales including One Equity Partners' sale of 2.1 million shares in OCI. Foreign investors reported record net stock sales on Thursday, dumping a net 1.31 trillion won worth of stocks on the main exchange. -Reuters
Stg falls on Ireland rescue speculation
Taiwan dollar surges
LONDON: Sterling fell versus the euro on Friday as speculation -- quickly denied -- that Ireland may soon receive a bailout quelled some fears about debt problems facing periphery euro-zone nations. Ireland's finance ministry said chatter about a bailout was untrue, but traders said reassurances from the EU and G20
the day to a session high of 85.61 pence. The single currency recovered from a fall to 84.50 pence hit earlier in the day, its weakest since late September. The single currency was poised to snap a six-day losing streak against the euro, having found support at 84.50, the pair's 100-day moving average.
that bondholders would not have to take a write-down on Irish debt helped the euro recover from a seven-week low versus the pound. A European Commission spokesman said Dublin has not requested financial aid from the European Union, while the EU and Group of 20 leaders said investors would not be forced to take a hit on their Irish bond holdings. By 1154 GMT, the euro traded at 85.35 pence, having climbed roughly 1 per cent on
But the single currency hovered below its 55-week moving average at 86.73 pence and a close below that level would suggest more losses may be in store. It remains on course to end the week 1.4 per cent lower. The pound fell 0.5 per cent to $1.6049, pulling further away from $1.63 hit last week, its strongest since January. Against a currency basket, sterling traded at 81.2, pulling back from 81.7 hit on Thursday, its highest since mid-September. -Reuters
TAIPEI: The Taiwan dollar firmed on Friday on recovery from suspected central bank intervention but met strong resistance from a slip in the euro, weaker stocks and a news report on restrictions in latesession trades. Taiwan's currency traded near T$30.17 per US dollar in the first hour as prices floated back to levels before the speculationwary central bank moved on Thursday to cut gains. The Taiwan dollar closed at T$30.532 in the previous session. But concerns about debt in Ireland ate into the euro, elevating the US dollar in early trade, while US and Taiwan stocks fell on fears of weak earnings. Both factors pressured the local currency. Local media reported that the central bank had limited forex trade orders to no less than 30 minutes before the market close, up from 15 minutes. But some dealers already knew about the move geared to squelch currency speculation, causing little impact in Friday's Taiwan dollar prices. Markets are watching the G20 summit in Seoul for a communique that could set the tone for world currency valuations. -Reuters
Australian, NZ dollars in worst week in three months SYDNEY/WELLINGTON: The Australian and New Zealand dollars were set for their biggest weekly losses in three months on Friday as a broad sell-off in commodities and stocks fuelled profit-taking in the pair. Analysts said a combination of factors drove profit-taking across asset classes: renewed concerns about Europe's fiscal woes, worries China may further tighten policy, and persistent unwinding of stretched positions in the euro and US dollar. The Australian dollar broke support at $0.9975 to fall as far as $0.9926, down 2.5 per cent from a 28-year peak of $1.0182 hit on Monday. Next support is between previous resistance levels of $0.9890 and $0.9910. "It was a combination of factors that add up to an overall 'risk-off' tone," said Grant Turley, an analyst at ANZ. "People want to take profits after some good runs, particularly in the Aussie dollar." For the week, the Australian dollar lost 2.1 per cent, its worse performance in any week since August 15. For 2010 however, it was still
up a hefty 10.7 per cent, the second best-performing major currency after the yen. In a nod to the robust fundamentals underpinning the Aussie dollar, the euro fell to a record low of A$1.3640 on Friday. Against the New Zealand dollar, the euro hit a two-month low of NZ$1.7453. A break of support at Sept 13 low of NZ$1.7354 could herald a fall back to the June low of NZ$1.7173. In late trade, the New Zealand dollar was soft at $0.7756, from $0.7800 in New York. The NZ dollar has had a bumpy ride this week, with sluggish data pointing to a tepid recovery, but US move to print more money has lifted most currencies against the US dollar. For the week, the NZ dollar is down 2.2 per cent, its biggest weekly loss since August 15. Still, it is up almost three per cent this month, even after the central bank tried to jawbone the currency lower by saying a strong NZ dollar would limit future rate rises. That helped the Aussie/kiwi pair to trim its recent decline to inch higher to NZ$1.2804. -Reuters
The Australian dollar, a favorite among investors choosing to buy into growth, sold off sharply. It shed more than 1 per cent to as low as $0.9825, its lowest since Nov. 1. It was last down 0.6 per cent at $0.9912. Media reports suggested China was planning to limit foreigners investing in its already speculative real estate sector while South Korea was planning capital controls. The dollar fell against the yen, moving back towards its 15-year lows. It was down 0.3 per cent at 82.30 yen, with Japanese exporters selling into the dollar's recent bounce. The euro fell to a two-month low against the yen in early trading, hitting 111.04 on EBS, but was last up 0.2 per cent at 112.96. -Reuters
Yuan slips vs USD, but uptrend intact SHANGHAI: China's yuan ended down on Friday after the dollar's global rebound although the People's Bank of China set the mid-point at a record high. Spot yuan was trading at 6.6370 versus the dollar, weaker than Thursday's close of 6.6257. It has now risen 2.85 per cent since its depegging to the dollar in mid-June. "The yuan has risen a lot in recent days. It's time for a correction now," said a dealer at a European bank in Shanghai. "And the G20 meeting is coming to a close, the political pressure has also decreased." Before the start of trade, the PBOC set the mid-point at 6.6239, slightly stronger than the previous day's 6.6242, despite the US dollar index's 0.7 per cent rise on Thursday. Dealers said the Chinese central bank was displaying strong intentions of letting the yuan rise. "With such high inflation in China, it's not difficult to expect that China will let the yuan rise," said a dealer at a Chinese bank in Shenzhen.
The National Bureau of Statistics reported on Thursday that China's consumer price inflation rose to a 25-month high of 4.4 per cent in the year to October. Analysts warn that the government could be behind the curve in tamping down on price pressures and that it will have to ratchet up the intensity of monetary tightening in the coming months. On Friday, financial markets in China were weighed down by worries over a possible new round of monetary tightening. Dealers said the yuan's retreat was temporary and would not affect its long-term prospects. The Chinese currency was likely to resume its ascent in coming days and could rise to 6.6 per dollar around the end of the year. Benchmark one-year dollar/yuan non-deliverable forwards (NDFs) rose slightly to 6.5221 bid on late Friday, compared with 6.4350 at Thursday's close, with their implied 12month yuan appreciation falling to 1.56 per cent from Thursday's 2.94 per cent. -Reuters
Indian rupee logs biggest fall in 5-½ mth MUMBAI: The Indian rupee posted its biggest one-day fall in 5-½ months on Friday, as sharp losses in local shares and bunched-up dollar demand after the US Veteran's Day holiday weighed. The partially convertible rupee closed 44.80/81 per dollar, after hitting 44.85, its weakest since Sept. 29 and below Thursday's close of 44.31/32. The local unit ended down 1.1 per cent on the day, its worst daily fall since June 1. On the week, the rupee dropped 1.35 per cent, its worst weekly fall in nearly six months. "The dollar was stronger in the non-deliverable forwards, commodities prices were lower, equities were down, dollar was strong against majors through most of the session. Together, all pushed the rupee lower," said Vikas Chittiprolu, a foreign exchange dealer with state-run Andhra Bank. One-month offshore non-
deliverable forward contracts were quoted at 45.16, 0.8 per cent weaker than the onshore spot rate, suggesting a bearish near-term outlook. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCXSX and United Stock Exchange closed at 44.95, 44.9450 and 44.9575 respectively, with the total traded volume on the three exchanges at an average $8.3 billion. -Reuters
Source
Events
GBP EUR EUR EUR EUR EUR GBP USD USD
Nationwide Consumer Confidence French Prelim GDP q/q German Prelim GDP q/q Italian Prelim GDP q/q Flash GDP q/q Industrial Production m/m CB Leading Index m/m Prelim UoM Consumer Sentiment Prelim UoM Inflation Expectations
Actual
Forecast
52 0.4% 0.7% 0.2% 0.4% -0.9% 0.3% 69.3 3.0%
55 0.5% 0.8% 0.4% 0.5% 0.4%
Previous
53 0.7% 2.3% 0.5% 1.0% 1.1% 0.1% 67.7 2.7%
69.1
Currency Rates Name EUR-USD ESD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3725 1.3776 0.9749 0.9776 1.6167 1.617 1.0087 1.0143 0.9918 1.0003 112.96 113.37 0.8491 0.8558 1.3382 1.343 0.97 0.97 1377.32 1410.15 26.47 27.75
Bid 1.3723 0.9744 1.6163 1.0083 0.9915 112.92 0.9487 1.36377 0.97 1376.45 26.42
Low 1.3575 0.9725 1.5989 1.003 0.9824 111.07 0.8453 1.3234 0.96 1374.70 26.15
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 12/11/2010 A USD GBP CAD EUR JPY O/N 0.22563 0.55250 0.99833 0.73125 SN 0.09438 1WK 0.24828 0.55563 1.03417 0.75375 0.10625 2WK 0.25000 0.56000 1.06333 0.76500 0.11375 1MO 0.25344 0.57000 1.09667 0.80875 0.12313 2MO 0.26828 0.62875 1.14583 0.87750 0.15125 3MO 0.28438 0.73913 1.19917 0.99250 0.19438 4MO 0.33250 0.82288 1.25667 1.05063 0.27375 5MO 0.39250 0.92663 1.32333 1.13375 0.33188 6MO 0.44281 1.03063 1.39917 1.23375 0.39375 7MO 0.49344 1.10788 1.45500 1.28063 0.45500 8MO 0.54719 1.19000 1.53667 1.32813 0.50250 9MO 0.59906 1.27188 1.60000 1.37750 0.54750 10MO 0.65094 1.34875 1.67667 1.42000 0.57500 11MO 0.70438 1.41750 1.75833 1.46375 0.60375 12MO 0.76281 1.48500 1.84667 1.51250 0.63125
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Dec 07 2010 Dec 09 2010 Dec 21 2010 Dec 02 2010 Dec 14 2010 Dec 16 2010 Dec 07 2010
Sep 08 2010 Mar 05 2009 Dec 19 2008 May 07 2009 Dec 16 2008 Mar 12 2009 Nov 02 2010
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, November 12,2010 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
85.50 137.57 116.40 84.82 87.58 84.92 12.45 1.04 14.35 65.96 15.62 22.80 11.03 12.90 304.37 27.47 66.31 23.50 23.28 0.08 2.87
85.30 137.25 116.13 84.62 87.38 84.72 12.42 1.04 14.32 65.81 15.58 22.74 11.00 12.87 303.66 27.41 66.15 23.44 23.22 0.08 2.86
85.12 136.93 115.86 84.40 87.15 84.50 12.39 1.03 14.28 65.63 15.54 22.69 10.97 12.83 302.86 27.33 65.98 23.38 23.16 0.08 2.85
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for November 12, 2010
CMKA 0-7days 12.20 8-15dys 12.20 16-30dys 12.30 31-60dys 12.40 61-90dys 12.70 91-120dys 12.85 121-180dys 13.00 181-270dys 13.05 271-365dys 13.20 2-- years 13.35 3-- years 13.65 4-- years 13.72 5-- years 13.75 6-- years 13.75 7-- years 13.78 8-- years 13.82 9-- years 13.85 10--years 13.88 15--years 14.20 20--years 14.35 30--years 14.50
BMA 12.50 12.40 12.25 12.45 12.76 12.95 13.10 13.25 13.25 13.40 13.63 13.65 13.70 13.70 13.70 13.70 13.71 13.76 14.20 14.35 14.50
INVSR 12.40 12.30 12.30 12.45 12.75 12.85 13.02 13.10 13.20 13.40 13.63 13.70 13.75 13.75 13.75 13.77 13.70 13.80 14.20 14.30 14.50
GSL 12.20 12.25 12.40 12.46 12.78 12.90 13.10 13.20 13.25 13.40 13.65 13.68 13.74 13.75 13.76 13.77 13.65 13.90 14.20 14.35 14.50
ICSL 12.30 12.20 12.25 12.45 12.75 12.85 12.95 13.10 13.20 13.40 13.60 13.73 13.75 13.75 13.75 13.75 13.75 13.80 14.20 14.30 14.50
JSCM AvgRate 12.35 12.33 12.30 12.28 12.30 12.30 12.45 12.44 12.75 12.75 12.85 12.88 13.05 13.04 13.10 13.13 13.22 13.22 13.40 13.39 13.70 13.64 13.73 13.70 13.74 13.74 13.75 13.74 13.75 13.75 13.75 13.76 13.70 13.73 13.77 13.82 14.25 14.21 14.35 14.33 14.50 14.50
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.54 0.55 0.96 0.95 0.52 0.36
0.92 0.22 0.81 -0.27 0.65 0.46
0.97 0.17 0.97 0.75 0.82 0.49
0.92 0.70 0.90 0.54 0.80 0.74
0.92 0.48 0.90 0.88 0.87 0.79
0.75 0.46 0.89 0.92 0.49 0.39
USD/CAD USD/CHF -0.07 -0.51 -0.87 -0.73 0.07 -0.24
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)12/11/2010 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
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 12.00
12.50
12.00
12.50
12.30
12.80
12.65
12.90
12.90
13.15
12.95
13.45
13.20
13.70
13.30
13.80
JSBL
12.25
12.75
12.35
12.85
12.40
12.90
12.70
12.95
13.05
13.30
13.20
13.70
13.30
13.80
13.50
14.00
ASPK 12.20
12.70
12.25
12.75
12.30
12.80
12.75
13.00
12.95
13.20
13.10
13.60
13.20
13.70
13.30
13.80
CIPK
12.20
12.70
12.30
12.80
12.30
12.80
12.60
12.85
13.10
13.35
13.20
13.70
13.30
13.80
13.35
13.85
DBPK 12.10
12.60
12.10
12.60
12.10
12.60
12.70
12.95
12.90
13.15
13.15
13.65
13.25
13.75
13.35
13.85
F B P K 12.15
12.65
12.15
12.65
12.15
12.65
12.65
12.90
13.05
13.30
13.15
13.65
13.15
13.65
13.40
13.90
FLAH 12.25
12.75
12.25
12.75
12.30
12.80
12.75
13.00
12.95
13.20
13.10
13.60
13.20
13.70
13.30
13.80
HBPK 12.25
12.75
12.25
12.75
12.35
12.85
12.75
13.00
13.00
13.25
13.15
13.65
13.20
13.70
13.35
13.85
HKBP 12.20
12.70
12.25
12.75
12.30
12.80
12.70
12.95
12.95
13.20
13.10
13.60
13.20
13.70
13.30
13.80
N I PK 12.00
12.50
12.25
12.75
12.65
13.15
12.90
13.15
13.00
13.25
13.10
13.60
13.20
13.70
13.30
13.80
HMBP 12.25
12.75
12.25
12.75
12.40
12.90
12.85
13.10
13.00
13.25
13.15
13.65
13.20
13.70
13.30
13.80
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
MCBK 12.20
12.70
12.20
12.70
12.30
12.80
12.80
13.05
13.05
13.30
13.20
13.70
13.30
13.80
13.50
14.00
NBPK 12.10
12.60
12.10
12.60
12.20
12.70
12.75
13.00
12.80
13.05
13.10
13.60
13.20
13.70
13.30
13.80
S CP K 12.15
12.65
12.15
12.65
12.20
12.70
12.70
12.95
12.95
13.20
13.10
13.60
13.15
13.65
13.30
13.80
UBPL 12.25
12.75
12.15
12.65
12.30
12.80
12.70
12.95
13.00
13.25
13.15
13.65
13.20
13.70
13.35
13.85
AVE
12.69
12.21
12.71
12.29
12.79
12.72
12.97
12.98
13.23
13.13
13.63
13.21
13.71
13.32
13.82
ABPL
SAMB
12.19
-0.57 -0.37 -0.93 -0.90 -0.62 -0.61
4 Saturday, November 13, 2010
Brewing Currency Wars
The Financial Daily International Vol 4, Issue 98
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board
Ryan Cole
W
ith the potential to become the biggest problem Khurram Shehzad, CFA Asim Abbas Ashary, CPA the financial crises have Prof. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA produced, even a small Zahid Bukhari SVP HBL (retd) Dr. A. Hadi Shahid, FCA chance of a currency war is worth paying attention to. Ismat Sabir Muhammad Arif With the arrival of QE2 (the Head office Fed's second round of quan111-C, Jami Commercial Street 11, Phase VII, DHA Karachi titative easing), many of Telephone: 92-21-5311893-6 Fax: 92-21-5388428 countries are grousing. URL: www.thefinancialdaily.com China, Japan, and Germany Email Address: editor@thefinancialdaily.com are all upset; they want to Lahore office the status quo to be main24- Peshawar Block, Fortress Stadium, Lahore tained. But frankly that Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com stance is more than a little hypocritical. Since 1995, China has been doing the exact same thing with much larger amounts of money. China has been printing yuan to buy dollars for the past 15 years, which keeps the yuan artificially low and drives the dollar up. It also gives China something for nothing, the trusted dollar, the most stable currency in the world, for the suspect yuan. Japan did something similar in the 1980s, and continThursday's attack on Crime Investigation ues to keep the yen low. Department (CID) in Karachi should be an eye When it jumped too high the Bank of Japan opener for the law enforcing agencies. The recently, intervened to knock some attack once again proved how ill-prepared, help- worth out of the yen. The less and novice are the agencies. This office is Germans haven't done nearlocated in high security zone but well prepared ly as much -- they haven't had to. By being part of the and executed raid by the militants to get free eurozone, Germany has an some of their accomplices show that no part of artificially low currency, the euro is worth less than the the city is secure. The daredevils also took the responsibility of Deutschemark would have been alone. The euro is the attack. This could be termed the second dragged down by a whole assault because the first successful attempt was host of weaker economies. Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Attack on the CID office
made at Karachi city courts. The two attacks were executed by two separate banned outfits. Law forcing agencies are fully aware of the activities of these banned outfits and often arrest the culprits but no one has been awarded any punishment because of 'insufficient evidences'. After such incidences police and media come up with lengthy stories but the bottom line is helplessness. No CCTV footage on the incident is available, thanks to ongoing electricity load shedding. No footage of attack on the shrine of Abdullah Shah Ghazi could be made available because of some technical faults. The attack on CID office was well master minded as the culprits used latest weapons, grenades and finally banged a loaded with ammunition truck with the building. One wonders such an encounter continued for more than half an hour in the high alert zone but no swift move was made to deter the culprits. Some basic questions come to minds: 1) how these banned outfits get the arms and their movements could not be intercepted? 2) From where these outfits get the money and suicide bombers? Where to be suicide bombers are trained? Why law enforcing agencies have not been able take preemptive measures? One tends to suspect that militant groups and banned outfits also have roots within the law enforcing agencies. Not only that the activists are provided police protection but are also supported by various political parties. It is on record that some of the political parties have extremely cordial relationship with these banned outfits. It is also suspected that some countries also provide them information, money and armaments as well as training. There are also evidences of involvement of foreign intelligence agencies, each having some vested interest. It seems that these attacks are aimed at deterring attention of Pakistan Army from borders. Some of the groups have been demanding handing over control of Karachi to Army, may be to initiate civil war. It has become imperative for the residents of Karachi to beef up security. They must keep a watch on the aliens in search of human shield. They should also be very careful while hiring watchmen. Stringent measures should also be taken to register all the refugees/aliens. It must be kept in mind that now Karachi is the focus of terrorists and every citizen has the responsibility to save the city.
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.
Germany has the chance to piously sit by and lecture, while benefiting from this
move of a previous country and then another country does the same to stay com-
Hyperin flation, after all, is with the worst currency what brought down the behavior leading up to the Weimar Republic and crisis one might think China what's turned would be a good candidate. The problem is, for any one transac- Zimbabwe into Shave a few points off GDP joke of a growth, and China might tion, it makes sense for a country to acountry this still be outpacing the rest of c e n t u r y . the world. devalue its currency. Imports become However, if we The problem is, the wind up in a Chinese might face unrest at more expensive; consumers buy more tit-for-tat situa- home. There were plenty of domestic goods. Exports become cheaper; tion, hyperin- protests when GDP growth flation is a very slowed during the crisis. more goods are sold overseas. China has likely result. What's more, China is facHopefully, the ing a demographic time been riding this formula during its entire leaders of the bomb, starting next year world under- when the population will bull run. However, with all countries stand this, and start to age. That exerts a will do every- strong downward pressure hurting, there are great risks that this thing to avoid on growth (less workers it. The problem paying for more services for could snowball is, that requires the elderly), so the Chinese arrangement. But never petitive and the circle con- one country to be the "bigger are unlikely to give a nudge mind the hypocrisy. What is tinues until all currencies man", to accept a weaker in the wrong direction at brewing right now is a cur- enter a period of advanced, position with a stronger cur- this delicate moment. rency war that would be far perhaps even hyper infla- rency for the greater good. There may not end up worse than any one being a currency war; regular currency nations might be talkHopefully, the leaders of the world devaluation. ing tough now, fully understand this, and will do everything aware that they can't The problem is, for any one transaction, afford to advance past it makes sense for a to avoid it. The problem is, that requires talk. A full-blown curcountry to devalue war would be one country to be the "bigger man", to rency its currency. Imports worse than any trade become more expen- accept a weaker position with a stronger war we've ever seen... sive; consumers buy and it could be the most more domestic currency for the greater good. That's no profitable. goods. Exports Eighteen years ago become cheaper; the world's most notorieasy thing to do, especially since it more goods are sold ous billionaires crashed would likely mean electoral defeat in a a major world market, overseas. China has been riding this forpocketing more than home election mula during its $6.11 billion in one day. entire bull run. Well, they're about to However, with all countries tion. That's no easy thing to do, launch another raid against hurting, there are great risks Should that happen, the especially since it would a major world currency. that this could snowball. financial crisis we just sur- likely mean electoral defeat And that's a fantastic opporOne country lowers their vived will seem a mild prel- in a home election. tunity for you... if you act currency to make up for the ude to the real show. Without elections and now.
“
The high cost of Afghan war A
n independent task force cautioned President Barack Obama on Friday about the high cost of the Afghanistan war and said he should consider a narrow military mission if his December review finds the current strategy is not working. The 25-member task force, led by former Deputy Secretary of State Richard Armitage and former national security adviser Samuel Berger, said it saw "hopeful signs" in Afghanistan, such as improved training of security forces, but other trends were less encouraging. "The cloudy picture and high costs raise the question of whether the United States should now downsize its ambitions and reduce its military presence in Afghanistan," the task force said in a 98-page report. "We are mindful of the real threat we face. But we are also aware of the costs of the present strategy. We cannot accept these costs unless the strategy begins to show signs of progress," said the task force, which was sponsored by the Council on Foreign Relations think tank. Dan Markey, a South Asia analyst at the council who was project director for the report, said the findings
were a "sober reflection of a Washington consensus that is increasingly skeptical and concerned" about the war. The task force was composed of a broad range of former government offi-
"If the December 2010 review of US strategy in Afghanistan concludes that the present strategy is not working, the task force recommends that a shift to a more limited mission at a substantially reduced level
led forces, including nearly 100,000 American troops, to disrupt al Qaeda and its Taliban allies while training Afghan military and police to take over security. At the same time, foreign civilians are working to The task force was composed help improve Afghan govof a broad range of former ernance in an to government officials, military leaders, effort b r o a d e n academics and journalists with expertise p o p u l a r support for the adminisin the region. The report was not tration. requested by the Obama administration, As the December but the task force did speak to officials r e v i e w approaches, it involved with the issue. is increasingly clear that cials, military leaders, aca- of military force would be defense officials believe the demics and jourwar plan is worknalists with ing but needs As the December review expertise in the more time, despite region. The report approaches, it is increasingly rising casualties was not requested and worsening clear that defense officials violence. by the Obama administration, Administration believe the war plan is but the task force officials have did speak to offibegun to downworking but needs more cials involved play Obama's with the issue. July 2011 deadThe group gave time, despite rising casualties line for begina qualified ning to hand over and worsening violence endorsement to security to Obama's ambiAfghan forces tious counterinsurgency- warranted," the report said. and withdraw US troops as style strategy, but only if it The administration's cur- conditions merit. is clearly making progress. rent strategy calls for USDefense Secretary Robert
“
Gates and Secretary of State Hillary Clinton said this week they viewed Afghan President Hamid Karzai's plan to assume full responsibility for the country's security by 2014 as a realistic goal Nato should endorse at its summit this month. Administration officials have indicated the strategy review is likely to bring only tweaks rather than a wholesale reappraisal of the war effort. The task force urged the administration to go beyond a narrow evaluation of the places where Afghans may be able to take responsibility for security and also include a "clear-eyed assessment" of whether there is enough progress to conclude the strategy is working. "The important thing that the report does is to try to clarify what progress should look like," Markey said. The report urges the administration to answer questions like whether Afghan police and army capabilities have been significantly improved, whether momentum in contested areas has shifted against the insurgency and whether normal life returns to areas once Nato operations have concluded.Reuters
LETTER TO THE EDITOR
Divine Powers Harping tunes of self pity has become a national trait lately as politicians, anchors, authors and commentators continuously point towards foreign hands and invisible forces that have brought our nation to a pitiable condition but remain unable to trace those who have an origin in the very soil of this country. The mindset is still intact, strengthening even, that allows these lethal hands the freedom to roam at will, and ultimately succeed to destroy its social, moral and economic structure to leave us dangling and suspended in space. Take the case of the floods that Pakistan is going through. Speculations are being made about the hands that are behind this massive flooding and as usual, the blame receives a shoulder in the form of the American project HAARP that possesses the divine capacity to cause floods, earthquakes and other such climatic disorientations that conveniently paints us as victims and targets and all such crap that relieves us of the burdensome blame of emitting too many untreated chemicals from industries situated in residential areas, using cars that should have seen the junk yard long ago and the wisdom of the wise men who find an easy solution in burning the waste instead of dispensing with it in an appropriate manner. We need to be wary of such thoughts that compel us to be exempted of all the blame and the responsibility of keeping good relations with our neighbors, avoiding deforestation, and building dams and reservoirs that would have rendered all the affects of the HAARP useless, instead, would have steered it towards our benefit. To blame, it is said, is the easiest thing to do that gives rise to failure while to rectify a wrong is the hardest, which Letterman explains as follows; a man may fall many times but he won't be a failure until he says someone pushed him. History provides ample proof that the God sides only those who have the will to improve themselves the conditions that the world ordains for them. Can we really call ourselves the seeker of His mercy, compassion and forgiveness after the manner in which humanity is being treated in this part of the globe? Viewing our actions, can we still wait for miracles? Should we really blame the others for our miserable state? Lubna Umar-Islamabad
5
Saturday, November 13, 2010
South East Asian stocks
Europe shares fall on Ireland bailout talk, China KSE-100 Index Opening Closing Change % Change Turnover (mn)
KSE sentiments hit by CID office blast
10,905.24 10,874.02 31.22 0.29 97.52
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,412.21 3,392.58 19.63 0.58 4.84
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,768.95 2,766.91 2.04 0.07 0.17
Major Gainers
Symbol RMPL FZTM HINO INDU SAPL
Close
Change
1,989.00 426.85 136.54 260.34 128.00
78.70 8.85 6.50 6.17 5.40
Major Losers
Symbol
Close
Change
COLG 841.06 ULEVER 4,050.00 SIEM 1,271.00 BATA 623.71 NRL 252.79
-43.82 -38.99 -38 -32.82 -7.59
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA JSCL HUBC AHSL NPL
12.05 11.76 34.42 25.16 14.97
21.77 6.26 5.93 4.83 4.10
Active Issues Plus Minus Unchanged
153 189 19
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to July 10) 3,565 Urea Offtake (July 10) 580 Urea Price (Rs/50 kg) 879 DAP Offtake (Jan to July 09) 374 DAP Offtake (July 10) 49 DAP Price (Rs/50 kg) 2,626
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 09 to June 10) 71,998 Sales (July 09 to June 10) 73,993 Production (July 10) 7,509 Sales (July 10) 4,503
INDUS MOTOR CO Production (July 09 to June 10) 50,557 Sales (July 09 to June 10) 50,823 Production (July 10) 5,162 Sales (July 10) 4,999
HONDA ATLAS CAR Production (July 09 to June 10) 13,500 Sales (July 09 to June 10) 14,120 Production (July 10) 1,560 Sales (July 10) 1,272
DEWAN FAROOQ MOTORS Production (July 09 to June 10)1,218 Sales (July 09 to June 10) 1,371 Production (July 10) 41 Sales (July 10) 40
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (August 20,10) 4,595,176 Advances (August 20,10) 3,304,533 Investments (August 20,10) 1,788,671 Spread (July 2010) 7.51%
OIL MARKETING CO (000 tons) MS (Jul 09 to June 10) MS (July 10) Kerosene (Jul 09 to June 10) Kerosene (July 10) JP (Jul 09 to June 10) JP (July 10) HSD (Jul 09 to June 10) HSD (July 10) LDO (Jul 09 to June 10) LDO (July 10) Fuel Oil (Jul 09 to June 10) Fuel Oil (July 10) Others (Jul 09 to June 10) Others (July 10)
PRICES (Ex-Refinery) MS (1 Sep 10) MS (1 Aug 10) MS % Chg Kerosene (1 Sep 10) Kerosene (1 Aug 10) Kerosene % Chg JP-1 (1 Sep 10) JP-1 (1 Aug 10) JP-1 % Chg HSD (1 Sep 10) HSD (1 Aug 10) HSD % Chg LDO (1 Sep 10) LDO (1 Aug 10) LDO % Chg Fuel Oil (1 Sep 10) Fuel Oil (1 Aug 10)
1,933 188 164 15 1,377 129 7,435 664 75 7 9,259 869 13 1
Rs 40.85 41.22 -0.90% 47.14 46.55 1.27% 47.37 46.78 1.26% 50.61 49.63 1.97% 46.37 45.29 2.38% 39,932 39,723
Sell-off continues; Manila fares worst on week
Nawaz Ali KARACHI: Negative activities continued at the Karachi Stock Exchange on the last day of the week with low investor participation following a deadly bomb blast in the country's financial hub killing more than a dozen people on Thursday night. At least 15 people were killed and 100 injured in a suicide attack at the building of Crime investigation Department (CID) located in high security zone.
Reportedly, Tehrik-e-Taliban Pakistan proclaimed the responsibility. The benchmark KSE-100 index ended 31 points down at a level of 10,874 points while KSE-30 index and KSE allshare index lost 27 and 19 points to close at 10,461 points and 7,564 points respectively. "The expectation of recovery in market after a two day correction period was altered by the Karachi bomb blast", said Arsalan Khan, equity dealer at JS Global Capital. Market opened the day with
CDC tariff slash blessed by SECP TFD Report KARACHI: Securities and Exchange Commission of Pakistan (SECP) has approved reduction in Transaction Fee by 50% (excluding SECP levy) and Custody Fee by 25% (other than those held by majority shareholders and sponsors) as recommended by the Central Depository Company of Pakistan Limited (CDC). This initiative was taken by the CDC management to give much needed relief and support to the market participants, especially the investing public, considering the challenging conditions currently prevailing in the capital market. CDC has been making substantial reduction in the tariffs charged to investors over the years. To put these reductions in the correct perspective, since the inception of the Company, the fee charged on transactions has been reduced by 80% and that charged on custody of shares has gone down by 70%. In addition, the custody fee charged on sponsors' blocked accounts and majority shareholders has been reduced by 88% since inception and is being further reduced by 10% every year until July 2013. The
annual fee charged to individual IAS account holders has been reduced by 83% and that for corporate account holders by 60% since inception. Besides making substantial reduction in its tariff over the years, CDC has also always followed a customer centric policy. The value added services such as CDC access which includes SMS, Web and Interactive Voice Response (IVR) services have been added with regular intervals. Over the years, the Company has invested a substantial amount to upgrade its technology platform and has developed a robust security infrastructure to safeguard the information relating to clients' assets held in the Central Depository System. The CDC is one of the few companies in Pakistan which are certified under ISO 27001, the premier international standard for information security management. The Company intends to continue its policy of passing on the maximum possible benefit to the investing public without making any compromises whatsoever in the services it provides and the security and integrity of the information held on its system.
Commodities slide, hit FTSE LONDON: A commodity price slide dented miners and energy stocks, pushing Britain's top shares lower by the close on Friday, while uncertainty over the Irish debt situation crimped appetite for riskier assets like equities. The FTSE-100 ended 18.36 points, or 0.3 per cent lower at 5,796.87. The index is still up 21 per cent since it hit the year's low in July, boosted in part by prospects of a renewed bout of quantitative easing from the Federal Reserve. "Markets have rallied strongly in the last few weeks, and there's a bit of concern that some of the reasons behind that, like the effectiveness of QE2 are not soundly based," said Kevin Gardiner, head of investment strategy at Barclays Wealth. Commodity-related stocks were the top fallers as the market digested Chinese data showing inflation hit a 25-month high in October and bank lending blew out, fuelling concerns the economy is overheating. The prospect of higher rates in China depressed metal and crude oil prices, which pushed mining and energy stocks lower, with Kazakhmys the top FTSE faller, down 3.4 per cent. The market was also pressured by uncertainty over the Irish debt situation. Sources told Reuters that Ireland was in talks about tapping emergency funds from the Financial Stability Facility, refocusing investor concerns on
the state of the finances of peripheral euro zone economies. Royal Bank of Scotland was a strong performer, adding 2.2 per cent as fears about the knock-on effect of any possible Irish default receded as plans to sort out the country's finances began to take shape. RBS has the second biggest exposure, 5.020 billion euros, to Irish sovereign debt, based on data supplied to regulators under a stress test conducted in July. Lloyds and Standard Chartered also climbed 1.4 and 0.5 per cent respectively, while the banking sector pared losses. Rolls-Royce was the top FTSE 100 gainer, up 4.6 per cent, buoyed by an update from the firm that the A380 engine failure was confined to one component in the company's Trent 900's turbine. Investec said the "clarity is a positive". Shares in the engine maker had fallen more than 10 per cent since November 3 when Qantas Airways suspended flights of its Airbus A380 planes after the failure of a Trent 900 caused one of its aircraft to make an emergency landing. The index is holding comfortably above the nearest major support levels. "The first support is last week's low at 5667 and the 9-week moving average at 5686," said Nicole Elliott at Mizuho Corporate Bank. "Below that there is the week before that's low at 5630, but that's not very strong." Reuters
marginal gains but showed lackluster activities during both the sessions of the day moving in range of 10,926 (+ve 21 points) and 10,853 (ve 51 points) but remained mostly in red zone. Investors preferred to book profits on deteriorating law and order situation in the city. However continued foreign interest and buying by the local funds contained the index fall. Further, investors also preferred to offload their positions ahead of Eid holidays as just two sessions are left
HK, China stocks fall on rate hike fears HONG KONG/SHANGHAI: Shares in Hong Kong and Shanghai posted their biggest single-day of loss in months on Friday as investors rushed to lock in gains on expectations the central bank would raise rates as early as later in the day. China's key stock index posted its biggest percentage loss in 14 months, ending down 5.2 per cent, with investors dumping big cap financials while a slide in oil prices hit heavyweight resource firms. "There are rumours that tonight there will be a rise in interest rates, with the rise being 50 basis points. This prompted a large slump in commodity futures and has had a big impact on the stock market," said Zhang Gang, analyst at Central Securities in Shanghai. "I cannot say if this will actually be the case, we will all be watching for an announcement tonight," he said. Analysts and brokers were quick to blame the drop on expectations of further rate hikes by as early as Friday evening, after data on Thursday revealed China's inflation sped to a 25-month high in October and bank lending blew past expectations. The Shanghai Composite Index closed at 2,985.4, plunging below the psychological 3,000 level. The index had risen one per cent on Thursday, when it surged in intraday trade to near levels not seen since January. Sinopec Corp was the biggest drag on the index, falling 3.3 per cent after a volatile session. PetroChina slid 1.6 per cent after trading up more one per cent. Oil fell $2 a barrel to below $86, retreating from a 25-month high reached in the previous session, as concern about Irish debt boosted the dollar. Financials slumped, with Minsheng Bank down 5 per cent, Industrial and Commercial Bank of China dropping 1.9 per cent and heavyweight Agricultural Bank of China sliding 2.9 per cent. Hong Kong Falls In Hong Kong, the Hang Seng Index fell 1.93 per cent, the biggest single-day percentage loss in more than four months. The index closed 477.72 points lower at 24,222.58, ending the week down 2.6 per cent, its biggest weekly decline in three months. Turnover was a heavy HK$127.2 billion, its highest in more than a week. The China Enterprises Index of top locally listed mainland companies fell 3.02 per cent. "The market underwent a consolidation and investors locked in gains on concern about further monetary tightening in China," said Linus Yip, strategist at First Shanghai Securities. "Some 400 points See # 10 Page 11
before the vacations. Therefore, market ended the day on a negative note breaching 10,900 levels. Volumes further dried as 97.52 million shares traded during the day which was 27.7 million shares less as compared to a turnover of 125.22 million shares on Thursday. Though, market ended on a bearish note but the offshore investors remained stuck to the buying side. According to NCCPL data they did a net buying of $2.05 million on Friday. On the local side; com-
panies and banks did a net selling of $2.99 million and $1.8 million respectively while mutual funds did a net buying of $2.52 million. Lotte Pakistan was the most traded scrip of the day with 21.77 million shares exchanging hands followed by Jahangir Siddiqui & Co. and Hub Power Company with 6.26 million and 5.93 million shares respectively. Out of total 361 active issues; 189 declined and 153 advanced while 19 issues remained unchanged.
Nikkei posts biggest loss since October 29 TOKYO: Japan's Nikkei dropped 1.4 per cent on Friday from a four and half month closing high marked the day before, with profit-taking intensifying as Chinese shares fell sharply and as oil and other commodity prices plunged. Shares came under pressure due to growing wariness over possible further monetary tightening in China, forcing fund operators to lock in profits from risk assets. Profit-takers also sold on rekindled fears about some euro zone countries' debt problems, including Ireland. But market participants in Tokyo were not overly pessimistic on Japanese stocks as they believe the recent bullish trend is still in place due to generally strong corporate results and recent falls in the yen against the dollar, traders said. "The Nikkei was pressured after seeing Shanghai shares drop more than 3 per cent. Profit-taking emerged as the market could be a bit concerned about the recent rapid rise in share prices," said Hiroaki Kuramochi, chief equity marketing officer at Tokai Tokyo Securities. The Nikkei ended the day down 1.4 per cent, or 136.65 points, at 9,724.81. That marked its biggest daily percentage loss since October 29. Up until Thursday, the Nikkei had posted strong gains since the start of the month, advancing nearly 8 per cent. It closed at 9,861.46 the previous day, booking its highest close since June 24, when it last traded above 10,000. The broader Topix index closed down 1.1 per cent, or 9.39 points, at 846.98. Japanese shares came under strong profittaking pressure as Chinese share and commodities prices tumbled due to speculation over a possible new round of Chinese tightening measures. The Shanghai
Composite Index dropped 5.3 per cent to 2,979.68, while Hong Kong's Hang Seng Index fell 1.6 per cent to 2,4302.55. China's official Securities Times reported that Beijing plans to limit foreigners from investing in its already speculative real estate sector. "The Nikkei could come under further profit-taking pressure if commodities prices extend their losses. But there is likely to be a limit on selling the Nikkei too strongly from here," Kuramochi said, adding that it would find support at 9,500. Spot gold lost more than one per cent in a broad retreat triggered by a stronger dollar. Oil prices dropped as much as 1.8 per cent, erasing this week's gain to two-year highs. Nikki may test 10,000 level Still, many analysts said potential gains in Japanese shares were in store as the outlook for the global economy brightens and as the dollar regained some ground against the yen. The greenback rose above 82 yen this week for the first time since early October. By late Asian trade, the dollar was down 0.2 per cent at 82.30 yen. Many equities traders still expect the Nikkei to eventually rise to the closely watched 10,000 level. After reaching that point, analysts see this year's high of 11,408.17, hit in April, as its next target. "The Nikkei could regain strength towards 10,000 depending on the yen. The Nikkei will target that level if the yen weakens towards 85 (against the dollar)," said Masaru Hamaski, a senior strategist at Toyota Asset Management. Analysts said the market was closely watching the outcome of the G20 summit in South Korea, where discussion was expected to include exchange rate policies and global economic imbalances. Reuters
US stocks mid-day
Five-week winning streak at risk NEW YORK: The US stocks dropped and were on track to end a five-week winning streak on Friday as expectations of an interest rate hike in China hit commodity prices and weighed on energy and natural resource stocks. The Shanghai Composite Index notched its biggest percentage loss in over a year on the likelihood China's central bank was set to raise rates to tackle inflation, a move that could pressure future growth. Commodities fell broadly, with crude oil futures down 2.7 per cent and copper off 2.2 per cent. That weighed on cyclical stocks, with aluminum producer Alcoa Inc. the top percentage loser among Dow components, slumping 2.8 per cent to $13.42. Also on the Dow, Exxon Mobil Corp was off 1.6 per cent to $70.66, while heavy machinery maker Caterpillar Inc was down 2 per cent to $80.87. The S&P energy index was off 1.6 per cent, while the materials index lost 2.2 per cent. "The whole commodity complex is exceptionally weak after the overnight action in China, and we need to see how it all plays out," said Tom Samuels, managing partner at Palantir Capital Management in Houston. "This may be the first seed of doubt about the healing power of (quantitative easing)." See # 9 Page 11
SECP issues show-cause, warning notices Staff Reporter KARACHI: Securities Market Division (SMD) of the Securities and Exchange Commission of Pakistan approved a term finance certificate (TFC) worth Rs4 billion by Engro Corporation under the title of Engro Rupiya Certificate, an Employees Stock Option Schemes of NIB Bank, issued two show-cause notices and a warning letter during October. Besides, 66 warning letters were issued to the beneficial owners of 30 listed companies for late filing of returns of beneficial ownership. Moreover, warning letters were issued to 9 listed companies for late filing of annual returns on Form-A. Along with this five amendments were approved to the regulations of the stock exchanges and revising share subscription form and TFCs subscription form.
Indian shares see worst week since May MUMBAI: Indian shares posted their worst weekly fall in more than 6 months and closed 2.1 per cent lower on Friday, as concerns over Ireland's debt woes sparked a worldwide sell-off in riskier assets. Banks led the losses. Asian stocks were also spooked by worries over China's overheating economy, while subdued industrial output data in India also weighed on domestic sentiment. The 30-share BSE index shed 432.20 points to 20,156.89, taking losses for the week to 4 per cent. The benchmark witnessed its worst single-day fall since June 1, with all but two of its components losing ground. Around 554 million shares changed hands on the
exchange, 33 per cent higher than its 30-day average volume. "We had discounted the European crisis, but issues like Ireland are here now. We do not know the depth of the issue as yet though," said Shashank Khade, executive vice-president of portfolio management services at Kotak Securities. EU leaders reassured investors they would not be forced to write down the value of their bond holdings in the event of a new euro zone bailout, easing pressure on Irish debt that has sparked fresh fears of contagion. "The Fed's (U.S. Federal Reserve's) QE2 was also factored in. So, collective factors are leading to a correction worldwide after the recent
rally." World equities as measured by MSCI's all-country index have risen nearly 15 per cent since the end of August. India's benchmark index is up 15.4 per cent so far this year, helped by net $28.5 billion foreign fund inflows into equities. More than half of this investment has arrived since the start of September, driving up the 30-share BSE index 12.1 per cent since then. Annual industrial output growth in Asia's third-largest economy slowed unexpectedly in September, led by a decline in capital goods production, bolstering the likelihood India's central bank will keep rates on hold in coming months. Reuters
6
Saturday, November 13, 2010
Market Volume
97,522,797
Value
3,331,803,105
Trades
52,183
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
153 189 19 361
All Share Index
10,874.02 10,928.30 10,853.11 i31.22
Current High Low Change
KSE 30 Index
7,564.19 7,601.30 7,550.15 i19.44
Current High Low Change
KMI 30 Index Current High Low Change
10,461.63 10,500.59 10,442.04 i27.39
17,343.19 17,456.16 17,321.16 i107.45
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,409.34 Turnover 6,530,852 P/E (x) 10.46 Company
KSE 100 Index
Symbols
High Low 1,413.10 1,396.74 Total cos Defaulter cos P/BV (x) ROE (%) 3.40 32.54
PE
Open
High
Low
Attock Petroleum 691 5.24 Attock Refinery 853 6.89 BYCO Petroleum 3921 Mari Gas Company 735 16.09 National Refinery XD 800 3.75 Oil & Gas Development 43009 10.72 Pak Petroleum 11950 7.76 Pak Oilfields XD 2365 5.90 Pak Refinery Limited 350 PSO 1715 4.72 Shell Gas LPG 226 Shell Pakistan 685 10.05
309.81 123.96 11.09 120.05 260.38 158.25 191.82 253.92 82.09 282.53 35.00 197.01
309.45 125.50 11.15 120.50 259.90 158.95 191.80 253.79 82.00 283.20 35.75 200.00
301.00 120.90 10.91 118.30 252.00 157.75 190.50 249.25 80.61 278.60 34.80 195.50
Close Chg 302.49 122.94 10.98 118.72 252.79 158.40 190.89 249.98 81.11 279.05 35.00 196.00
-7.32 -1.02 -0.11 -1.33 -7.59 0.15 -0.93 -3.94 -0.98 -3.48 0.00 -1.01
Close Change 1,401.64 -7.70 Listed cap Market cap 65,194.15 mn 1,098,065.62 mn Payout (%) Div Yield (%) 55.94 5.35 Last 60 days High Low
Volume 532890 3659488 655134 24749 146275 161526 141262 1377795 8812 446311 4342 27402
374.20 129.70 12.10 128.90 263.00 160.20 214.10 262.40 87.39 286.97 40.28 220.00
% Change -0.55 5-Day High 1,415.31 5-Day Low 1,401.64
2009 Div BR (%) (%)
2010 Div BR (%) (%)
287.99 250 76.00 9.84 106.00 32.17 100B 183.25 125 136.11 82.5 168.70 130 20B 213.17 180 48.26 233.10 50 27.32 182.05 330 -
300 31 200 55 90 255 80 40
20 20B -
CHEMICALS
Open 758.62 Turnover 1,574 P/E (x) 5.76 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
High Low 763.79 740.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.47 25.53
Close 754.81 Listed cap 3,242.17 mn Payout (%) 11.08
Change -3.81 Market cap 13,210.73 mn Div Yield (%) 1.92
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.29 41.09
73.94 36.68
74.00 37.80
71.52 37.00
72.88 -1.06 37.80 1.12
1073 501
80.00 41.00
60.05 34.50
Company
Paid up Cap(mn)
BOC (Pak)
PE
Open
250 10.44
76.00
High
Low
Close Chg
76.02
76.00
76.02 0.02
Close 1,224.97 Listed cap 52,251.88 mn Payout (%) 48.81
Change -0.04 Market cap 274,825.79 mn Div Yield (%) 6.34
Last 60 days High Low
Volume
% Change 0.00 5-Day High 1,235.94 5-Day Low 1,215.52
2009 Div BR (%) (%)
2010 Div BR (%) (%)
Open 1,147.81 Turnover 436,868 P/E (x) 4.08 Paid up Cap(mn)
PE
Open
144 5.11 101 4.67 626 6.82 890 56 4.38 450 3.34 200 7.02 1428 786 5.94 823 11.69 150 3.60
66.51 156.26 100.55 1.46 150.99 4.90 4.15 12.57 254.17 73.87 19.00
High
High Low 1,182.12 1,128.94 Total cos Defaulter cos P/BV (x) ROE (%) 1.03 25.35 Low
Close 1,162.27 Listed cap 6,768.53 mn Payout (%) 20.42
Close Chg
Volume
67.50 66.01 67.50 0.99 156.80 155.25 156.50 0.24 101.00 96.00 97.96 -2.59 1.48 1.20 1.45 -0.01 153.00 151.40 153.00 2.01 5.04 4.70 4.81 -0.09 4.78 4.15 4.49 0.34 13.30 12.35 13.11 0.54 263.60 250.55 260.34 6.17 76.90 72.60 73.41 -0.46 19.43 19.00 19.28 0.28
1660 640 6781 3258 133 9937 104 213983 142484 57882 14908
Change 14.47 Market cap 41,807.19 mn Div Yield (%) 5.01
Last 60 days High Low 72.99 195.80 122.51 1.95 155.99 6.09 5.55 13.30 263.60 82.00 27.58
63.01 131.00 92.00 1.16 121.10 4.03 3.55 9.65 212.29 69.25 17.92
300
87.99
66.90
90
15
-
273
5.81 153.02
153.95 152.00 152.05 -0.97
2251
164.89
149.72
125
-
-
-
1203
7.00 169.26
170.00 168.50 168.83 -0.43
11581
182.00
155.38
40
10B
40
-
FOOD PRODUCERS
Descon Chemical Descon Oxychem Ltd.
1996 1020
2.98 7.84
1.78 3.20
-
-
-
-
Performance of SR Food Producers Index
-
-
Dewan Salman
3663
Engro Corporation Ltd
3277
Engro Polymer Fatima Fertilizer
6635 22000
-
2.55 6.82 1.70
9.79 178.36 -
13.40 10.05
2.71 7.80 1.70
2.53 6.61 1.63
2.59 0.04 7.19 0.37 1.67 -0.03
178.89 177.80 178.18 -0.18 13.48 10.20
13.30 9.80
13.36 -0.04 9.87 -0.18
373867
1.82
1.28
305773
185.59
165.60
6010B 40R
85926 2189647
15.20 11.74
11.15 9.02
- 27.5R -
149304
111.65
-
-
-
10B
95
-
6785
7.97 110.34
Fauji Fert. Bin Qasim Gatron Ind XD
9341 384
6.23 2.25
32.86 43.74
33.39 44.90
32.50 41.75
33.01 0.15 41.91 -1.83
1220132 396
33.70 46.59
26.59 36.95
40 -
-
17.5 20
-
725
9.11
12.17
12.15
12.00
12.03 -0.14
96800
13.85
7.41
-
-
-
-
134.01 132.00 132.70 -0.57
72315
138.00
113.00
80
-
55
-
21765839 12.18
7.30
5
-
-
-
ICI Pakistan
1388
Lotte Pakistan
15142
Mandviwala
7.48 133.27 4.30
11.71
12.17
11.56
12.05 0.34
102.96 131.5
40
Fauji FertilizerSPOT
Ghani Gases Ltd
110.55 109.70 109.96 -0.38
142793 2092683
-
Agriautos Ind XD Atlas Battery Atlas Honda Dewan Motors Exide (PAK) Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
Dawood Hercules
Clariant Pak
74
-
1.55
2.25
1.21
1.65 0.10
77191
3.00
0.80
-
-
-
-
1106 60
-
1.49 1.40
1.54 0.91
1.40 0.91
1.41 -0.08 0.91 -0.49
337524 1000
1.65 1.64
1.16 0.91
-
-
-
-
Shaffi Chemical
120
-
2.49
2.95
2.25
2.41 -0.08
2289
3.40
1.80
-
-
-
-
Sitara Chem Ind XDXB Sitara Peroxide
214 9.51 112.45 551 15.47 13.97
Nimir Ind Chemical Sardar Chemical
United Distributors
92
-
10.14
Wah-Noble XD
90
6.33
33.09
117.90 111.50 116.08 3.63 14.45 13.95 14.23 0.26
127.20 14.48
101.00 7.67
75 -
-
25 -
5B -
10.19
10.19
10.19 0.05
2000
1979 747312
17.88
9.22
10
10B
-
-
32.90
32.00
32.90 -0.19
1100
46.25
32.00
50
-
50
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,072.05 Turnover 6,589 P/E (x) 5.50 Company
High Low 1,083.83 1,062.93 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 7.47
Close 1,064.98 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 411
6.02
16.07 39.60
16.58 39.44
16.02 39.00
16.10 0.03 39.00 -0.60
4528 2011
Century Paper Security Paper
Change -7.07 Market cap 2,951.35 mn Div Yield (%) 4.60
Last 60 days High Low 21.80 48.00
15.28 38.10
% Change -0.66 5-Day High 1,087.09 5-Day Low 1,064.98
2009 Div BR (%) (%) - 425R 50 -
Open 1,519.07 Turnover 330,642 P/E (x) 31.15 Company Adam Sugar AL-Noor Sugar Chashma Sugar Clover Pakistan Habib Sugar Habib-ADM Ltd Ismail Ind J D W Sugar Mehran Sugar Mirpurkhas Sugar Mirza Sugar National Foods Noon Pakistan XD Noon Sugar Pangrio Sugar Premier Sugar S S Oil Sakrand Sugar Shahmurad Sugar Shakarganj Mills Tandlianwala
Paid up Cap(mn) 58 186 287 94 600 200 505 490 143 70 141 414 48 165 109 38 57 223 211 695 1177
PE 0.88 4.83 1.08 7.64 7.11 11.85 33.53 2.64 3.36 6.45 0.36 15.99 3.02 0.51 7.71 0.27 18.48 277.27
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind
565 675 555 1199
PE 3.84 9.49 9.34
Open 24.70 2.90 15.05 44.98
High 24.70 3.05 15.50 45.50
Low 24.60 2.85 14.55 44.53
Close Chg 24.60 2.91 15.18 44.83
-0.10 0.01 0.13 -0.15
Close 914.19 Listed cap 3,596.11 mn Payout (%) 30.91
Change -2.19 Market cap 8,718.96 mn Div Yield (%) 12.63
Last 60 days High Low
Volume 2190 21997 13712 4868
27.90 3.39 16.75 65.00
% Change -0.24 5-Day High 927.30 5-Day Low 914.19
2009 Div BR (%) (%)
23.75 1.65 12.25 44.00
-
30B -
2010 Div BR (%) (%) 30 40
Company
Paid up Cap(mn)
AL-Abid Silk XB Diamond Ind Pak Elektron Singer Pak Tariq Glass Ind
PE
115 2.69 90 1174 3.47 341 20.30 231 2.01
20B
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement XD Maple Leaf Cement Pioneer Cement Safe Mix Concrete
PE
Open
High
Low
Close Chg
Close 986.94 Listed cap 54,792.74 mn Payout (%) 19.04
Change -14.70 Market cap 70,754.26 mn Div Yield (%) 2.97
Last 60 days High Low
Volume
% Change -1.47 5-Day High 1,023.94 5-Day Low 986.94
2009 Div BR (%) (%)
2010 Div BR (%) (%)
1828
-
3.20
3.30
3.16
3.21 0.01
6543
4.20
2.80
-
-
- 100R
866 858 182
6.40 -
61.41 1.75 17.47
61.90 1.90 17.65
60.53 1.31 16.55
60.84 -0.57 1.85 0.10 17.35 -0.12
11408 105 7217
69.86 2.05 19.20
57.60 1.01 14.01
50 -
20B -
50 - 122R
948 3574 3651 118.33 350 3.51 6933 15.03
2.00 1.52 28.59 3.31 4.97
2.85 1.79 28.97 2.95 5.05
2.39 1.48 28.15 2.95 4.91
2.40 1.61 28.40 2.95 4.96
0.40 0.09 -0.19 -0.36 -0.01
19610 444917 3167333 1000 83384
3.12 1.99 31.05 4.70 5.50
1.02 1.30 23.02 2.11 4.52
-
20R -
-
20R -
6.80 1.78 2.47 3.46 0.70 6.20 3.01 75.60
7.20 1.88 2.90 3.79 0.69 6.30 3.09 76.84
6.52 1.72 1.81 3.20 0.57 6.20 2.96 71.86
7.20 1.77 2.46 3.20 0.60 6.21 3.00 72.84
0.40 -0.01 -0.01 -0.26 -0.10 0.01 -0.01 -2.76
1002 55766 5074 800 28638 33642 296900 3770065
7.94 2.20 5.00 6.69 1.48 6.50 3.65 79.98
4.25 1.72 1.18 2.11 0.25 5.50 2.70 64.30
40
10B -
40
-
502 1760 77 2319 32 1288 13126 3234 5261 2228 200
3.75 6.54 1.31 -
2.96 7.60 5.61
2.99 7.70 6.50
2.80 7.40 5.60
2.81 -0.15 7.43 -0.17 5.61 0.00
132390 20716 1507
3.40 8.58 9.47
2.51 6.90 5.25
-
-
-
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 934.85 Turnover 297,435 P/E (x) 2.66 Company
Paid up Cap(mn)
Cherat PapersackXDXB ECOPACK Ltd MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
PE
Open
115 1.92 54.08 230 1.95 389 2.98 47 44.90 17.49 844 54.23 104.75 300 7.58 102.96
High
High Low 957.60 919.28 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 43.91 Low
Close Chg
54.48 53.00 53.85 2.20 1.94 1.94 2.95 2.40 2.94 18.30 17.55 17.96 107.90 104.10 105.75 104.50 103.00 103.98
-0.23 -0.01 -0.04 0.47 1.00 1.02
Close 926.02 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 25589 3177 211 550 197129 70674
Change -8.82 Market cap 34,657.51 mn Div Yield (%) 5.85
Last 60 days High Low 55.00 2.64 3.99 18.89 122.99 106.00
34.00 1.70 1.60 11.81 98.00 91.00
% Change -0.94 5-Day High 947.54 5-Day Low 926.02
2009 Div BR (%) (%) 32.5 100
-
2010 Div BR (%) (%) 20 -
25B -
Low 16.00 47.50 11.62 46.76 34.15 12.61 74.50 78.00 57.50 60.10 5.71 42.50 21.13 14.00 6.10 42.00 3.10 3.09 12.75 4.63 30.50
Close Chg 16.45 47.50 13.41 46.76 34.48 12.80 75.10 78.95 59.99 61.38 5.71 42.86 21.17 14.08 6.30 42.00 3.10 3.10 12.75 5.25 30.50
0.46 0.35 0.87 -2.13 -0.20 0.15 1.10 0.80 1.34 -1.32 -0.47 0.11 1.00 -0.06 -0.09 1.30 -0.40 -0.09 -0.24 -0.23 -0.08
Close 1,513.77 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 502 2900 133914 209 174477 1545 596 308 144 205 551 380 2746 4000 210 301 3000 1500 1698 538 602
Last 60 days High Low 16.50 48.00 13.71 54.25 36.00 16.98 77.70 81.95 60.99 62.77 6.35 57.20 29.23 14.74 6.50 42.50 3.89 3.50 13.10 6.40 35.50
10.50 39.25 8.00 33.33 25.20 11.90 61.70 60.10 48.50 54.50 4.20 39.01 17.51 10.20 4.00 32.50 2.51 2.12 8.01 3.02 26.00
Open 25.50 8.71 13.89 18.75 16.80
High 25.80 9.70 14.30 18.40 17.00
High Low 1,127.72 1,104.20 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 10.64 Low 25.00 8.41 13.70 18.06 16.75
Close Chg 25.00 8.42 13.76 18.07 16.80
-0.50 -0.29 -0.13 -0.68 0.00
Close 1,106.08 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 1102 109 361900 304 12955
Last 60 days High Low 35.00 19.70 15.43 24.14 18.80
25.00 8.41 12.25 16.51 14.50
Open 950.89 Turnover 7,960,859 P/E (x) 6.07 Company
Paid up Cap(mn)
AL-Qadir Textile XD Amtex Limited XD Azam Textile XD Azgard Nine Bannu Woolen XD Bata (Pak) Bilal Fibres Chenab Limited Chenab Ltd Pref Colgate Palm Colony Mills Ltd Crescent Fibres Ltd XD Crescent Jute D S Ind Ltd Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning XD Gadoon Textile XD Ghazi Fabrics XD Hira Txt. Mills Ltd. XD Ibrahim Fibres XD Int Knitwear XD Janana D Mal Kohinoor Ind Kohinoor Mills Kohinoor Textile Masood Textile XD Mian Textile Mukhtar Textile Nagina Cotton Nishat (Chunian) XD Nishat Mills XD Pak Leather Pak Synthetic Ravi Textile Salfi Textile Sally Textile XD Sargoda Spinning XD Service Ind Shadab Textile XD Shahpur Textile Shams Textile XD Shield Corp XD Suraj Cotton XD Tata Textile Thal Limited Treet Corp Zil Limited XD
76 2415 133 4493 76 76 141 1150 800 316 2442 124 238 600 514 34 110 234 326 716 3105 32 43 303 509 1455 600 221 145 187 1586 3516 34 560 250 33 88 312 120 30 140 86 39 180 173 307 418 53
PE
Open
6.00 10.86 4.69 0.28 2.02 - 10.90 0.46 12.93 5.17 656.53 0.53 1.16 3.33 1.88 31.57 884.88 4.16 2.86 0.49 10.74 0.85 1.91 42.52 36.99 0.12 3.41 0.58 19.06 0.54 51.54 0.49 3.50 0.76 4.00 3.01 38.27 - 10.00 0.23 14.35 1.54 2.29 4.14 5.34 1.95 19.39 0.59 0.40 0.75 14.71 1.91 23.03 4.65 54.29 1.96 2.28 6.74 1.61 0.20 41.58 0.20 3.83 0.39 2.05 6.55 186.62 0.26 9.90 0.69 0.55 0.63 19.00 8.05 62.28 0.73 33.75 0.29 28.35 4.22 95.37 8.09 51.53 3.01 43.60
High
High Low 966.46 937.43 Total cos Defaulter cos P/BV (x) ROE (%) 0.52 8.64 Low
Close Chg
6.90 6.84 6.86 0.86 4.84 4.49 4.78 0.09 2.80 2.00 2.00 -0.02 10.94 10.55 10.62 -0.28 13.31 13.00 13.01 0.08 684.00 623.71 623.71-32.82 2.00 1.98 1.98 0.82 3.47 3.35 3.35 0.02 1.85 1.85 1.85 -0.03 889.99 841.00 841.06-43.82 2.90 2.60 2.66 -0.20 11.74 10.51 10.51 -0.23 1.20 0.85 0.85 0.00 1.95 1.76 1.89 -0.02 38.83 36.10 36.14 -0.85 4.38 3.50 3.95 0.54 19.70 19.00 19.00 -0.06 52.20 49.49 49.49 -2.05 2.99 2.80 2.99 -0.51 4.15 4.05 4.05 0.05 38.84 36.70 38.29 0.02 9.00 9.00 9.00 -1.00 14.00 14.00 14.00 -0.35 1.72 1.45 1.50 -0.04 2.50 2.05 2.49 0.20 5.85 5.18 5.80 0.46 18.70 18.51 18.51 -0.88 0.64 0.34 0.34 -0.25 0.75 0.16 0.58 0.18 14.71 14.70 14.70 -0.01 23.25 22.50 22.95 -0.08 54.88 53.85 54.18 -0.11 2.65 2.00 2.00 0.04 6.75 6.51 6.75 0.01 1.68 1.53 1.60 -0.01 43.65 41.01 43.65 2.07 4.83 3.85 4.05 0.22 2.00 2.00 2.00 -0.05 195.95 180.11 191.47 4.85 9.10 9.10 9.10 -0.80 0.50 0.40 0.50 -0.05 20.00 19.15 19.21 0.21 65.39 61.03 65.39 3.11 34.80 32.60 32.60 -1.15 29.76 29.76 29.76 1.41 99.50 95.10 98.70 3.33 52.40 50.50 50.82 -0.71 45.78 42.30 45.00 1.40
Close 947.55 Listed cap 47,070.70 mn Payout (%) 16.68
% Change 0.02 5-Day High 1,537.17 5-Day Low 1,515.27
Company
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Ados Pak
66
1.01
15.75
15.70
15.70
15.70 -0.05
2000
21.96
14.62
20
-
-
-
5272 3264 23637
227.45 51.99 18.80
200.00 40.00 10.55
400 -
20B -
150 25 -
10B -
215 5.01 207.57 104 - 45.99 213 10.16 10.97
210.00 207.20 209.00 1.43 45.00 44.85 44.85 -1.14 11.01 10.85 10.97 0.00
2009 Div BR (%) (%)
Hinopak Motor KSB Pumps
124 132
- 130.04 8.43 72.00
136.54 123.54 136.54 6.50 71.00 70.00 70.36 -1.64
4819 1020
143.41 88.15
108.11 17.15 69.50 35
Millat Tractors XB
366
6.33 484.56
487.00 480.00 483.74 -0.82
57017
597.90
390.00
450
2010 Div BR (%) (%)
-
-
-
25B
650
25B
90 100 60 150 10
20B 30B 20B
2009 Div BR (%) (%) 10 40 35 40 15 40 35 25 50 30 15 -
25B 30B 10B 25B 10B 10B -
2009 Div BR (%) (%) 7.5 -
10B 10B -
Volume 3000 2332582 3103 684772 2532 28512 501 2066 119 167 6551 1001 1501 28879 1213 3502 1201 1300 201 23002 2002 500 200 58468 2751 35116 1008 740 5597 1010 1752859 2548486 3983 2648 217 301 1247 1000 30721 500 510 1301 405 306 106 246193 122960 13331
Change -3.34 Market cap 122,600.66 mn Div Yield (%) 2.75
Last 60 days High Low 6.90 20.09 3.45 12.32 14.50 747.48 2.00 3.95 2.61 930.00 3.45 18.35 1.90 2.49 47.00 4.70 25.45 52.20 5.00 4.88 40.30 10.99 20.50 1.93 3.79 6.30 22.88 0.98 0.98 17.50 25.10 57.65 5.95 7.49 2.65 43.65 6.20 2.50 255.29 11.50 1.90 20.00 65.39 37.50 29.76 112.80 55.25 48.75
2.50 4.40 1.35 8.80 7.50 436.00 0.55 3.00 1.21 615.00 2.23 7.66 0.16 1.44 36.10 1.52 17.21 33.80 1.13 2.95 34.05 7.98 9.95 1.01 1.52 4.30 18.01 0.01 0.16 12.00 15.25 40.81 1.45 5.16 1.38 20.50 2.92 0.50 169.00 7.56 0.18 15.00 43.29 29.00 14.02 86.50 37.20 33.00
PHARMA AND BIO TECH Change 0.23 Market cap 31,721.96 mn Div Yield (%) 16.47
40 100 80 50 100 5 -
20B 20B
% Change -0.35 5-Day High 1,521.66 5-Day Low 1,513.77 2010 Div BR (%) (%) 15 40 17.5 110R 0 12.5R 25 10B 12 12 -
% Change -0.71 5-Day High 1,137.82 5-Day Low 1,101.81 2010 Div BR (%) (%) -20B 20R - 10B 17.5 -
Performance of SR Personal Goods Index
Performance of SR Pharma and Bio Tech Index
Close 1,515.50 Listed cap 1,336.62 mn Payout (%) 131.49
2010 Div BR (%) (%)
Change -7.87 Market cap 5,196.87 mn Div Yield (%) 1.67
INDUSTRIAL ENGINEERING High Low 1,528.39 1,493.68 Total cos Defaulter cos P/BV (x) ROE (%) 3.03 38.02
2009 Div BR (%) (%)
Change -5.30 Market cap 197,559.24 mn Div Yield (%) 0.98
Performance of SR Industrial Engineering Index Open 1,515.27 Turnover 97,122 P/E (x) 7.98
AL-Ghazi Tractor Bolan CastingXDXB Ghandhara Ind
16.50 48.00 13.54 46.76 36.00 12.96 76.50 79.85 60.40 61.38 6.19 42.86 21.17 14.10 6.50 42.50 3.10 3.39 13.00 5.69 30.50
High Low 1,543.25 1,468.11 Total cos Defaulter cos P/BV (x) ROE (%) 9.44 30.30
% Change 1.26 5-Day High 1,162.27 5-Day Low 1,100.67
PERSONAL GOODS
Performance of SR Construction and Materials Index High Low 1,018.29 974.69 Total cos Defaulter cos P/BV (x) ROE (%) 0.46 7.10
15.99 47.15 12.54 48.89 34.68 12.65 74.00 78.15 58.65 62.70 6.18 42.75 20.17 14.14 6.39 40.70 3.50 3.19 12.99 5.48 30.58
High
Open 1,113.95 Turnover 376,373 P/E (x) 3.75
CONSTRUCTION AND MATERIALS Open 1,001.64 Turnover 8,086,529 P/E (x) 6.42
-
RSI (14-day)
72.14
Total Assets (Rs in mn)
MA (10-day)
11.89
Total Equity (Rs in mn)
MA (100-day)
11.97
Revenue (Rs in mn)
7,485.06 3,321.26 13,747.82
MA (200-day)
13.95
Interest Expense
251.78
1st Support
12.50
Profit after Taxation
224.32
2nd Support
11.95
EPS 09 (Rs)
4.742
1st Resistance
13.45
Book value / share (Rs)
70.22
2nd Resistance
13.85
PE 10 E (x)
Pivot
12.90
PBV (x)
0.19
HCAR closed up 0.54 at 13.11. Volume was 1,096 per cent above average (trending) and Bollinger Bands were 30 per cent wider than normal. The company's loss after taxation stood at Rs100.884 million which translates into a Loss Per Share of Rs0.71 for the 1st quarter of current fiscal year (1QFY11). HCAR is currently 6.2 per cent below its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into HCAR (bullish). Trend forecasting oscillators are currently bullish on HCAR. Momentum oscillator is currently indicating that HCAR is currently in an overbought condition.
Dewan Cement Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
54.29
Total Assets (Rs in mn)
21,596.72
MA (10-day)
1.54
Total Equity (Rs in mn)
4,222.04
MA (100-day)
1.63
Revenue (Rs in mn)
5,682.57
MA (200-day)
2.19
Interest Expense
1st Support
1.51
Loss after Taxation
2nd Support
1.34
EPS 09 (Rs)
1st Resistance
1.82
Book value / share (Rs)
2nd Resistance
1.96
PE 10 E (x)
Pivot
1.65
PBV (x)
463.19 (163.21) (0.457) 11.81 0.14
DCL closed up 0.09 at 1.61. Volume was 271 per cent above average (trending) and Bollinger Bands were 39 per cent narrower than normal. The company's loss after taxation stood at Rs173.394 million which translates into a Loss Per Share of Rs0.46 for the 1st quarter of current fiscal year (1QFY11). DCL is currently 26.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DCL at a relatively equal pace. Trend forecasting oscillators are currently bullish on DCL.
NIB Bank Limited
HOUSEHOLD GOODS
Performance of SR Industrial Metals and Mining Index High Low 923.54 909.24 Total cos Defaulter cos P/BV (x) ROE (%) 0.81 33.10
40 15
Fundamental Highlights As on Mar 31, 2009
Technical Analysis
Performance of SR Household Goods Index
-
INDUSTRIAL METALS AND MINING Open 916.38 Turnover 42,767 P/E (x) 2.45
Open
2010 Div BR (%) (%) 50
20B -
2010 Div BR (%) (%)
AUTOMOBILE AND PARTS
Company
High Low 1,233.59 1,216.91 Total cos Defaulter cos P/BV (x) ROE (%) 2.69 35.00
30
Honda Atlas Cars Pakistan Ltd
% Change -0.50 5-Day High 766.72 5-Day Low 749.62
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,225.01 Turnover 27,347,719 P/E (x) 7.69
2009 Div BR (%) (%)
Alert ! Unusual Movements
Open 872.70 Turnover 37,323 P/E (x) 6.40 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak XD
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
8.59 98.90 6.39 84.30 12.74 70.90 6.77 24.95 6.77 8.46 10.18 122.60 5.61 62.25
High
High Low 879.62 862.96 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 22.31 Low
Close Chg
98.90 98.00 98.05 86.90 82.20 84.60 71.25 70.00 70.85 24.85 24.35 24.45 8.98 7.50 8.39 128.73 123.99 128.00 62.90 62.01 62.34
-0.85 0.30 -0.05 -0.50 -0.07 5.40 0.09
Close 871.52 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 2811 2831 6068 10410 10900 2225 2078
120 115 7.5 15 20 12.5 200 15 20 40
77.00 82.20 65.00 22.60 6.10 115.90 53.36
2009 Div BR (%) (%) 120 10 50 25 70 15
2010 Div BR (%) (%)
10 30 7.5 20 15B 10 5 35 70 10 10 20 6 15 100R - 20SD 50R 15 25 45R 25 10 5 10 20 30B 10 50 25 20B 80 20B 10B 35 -
Change -1.18 Market cap 29,022.03 mn Div Yield (%) 6.95
Last 60 days High Low 104.00 124.00 78.15 25.79 9.00 139.50 64.50
2009 Div BR (%) (%)
% Change -0.35 5-Day High 960.61 5-Day Low 947.55
20B 15B
% Change -0.14 5-Day High 872.70 5-Day Low 870.44 2010 Div BR (%) (%) 20 30
20B -
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
50.31
Total Assets (Rs in mn)
208,118.96
MA (10-day)
2.71
Total Equity (Rs in mn)
41,643.27
MA (100-day)
2.88
Revenue (Rs in mn)
18,272.36
MA (200-day)
3.54
Interest Expense
12,872.36
1st Support
2.72
Profit after Taxation
2nd Support
2.62
EPS 09 (Rs)
0.171
1st Resistance
2.90
Book value / share (Rs)
10.30
2nd Resistance
2.98
PE 10 E (x)
Pivot
2.80
PBV (x)
691.05
0.27
NIB closed unchanged at 2.78. Volume was 13 per cent above average and Bollinger Bands were 30 per cent narrower than normal. The company's loss after taxation stood at Rs3.559 billion which translates into a Loss Per Share of Rs0.88 for the nine months of current calendar year (9MCY10). NIB is currently 21.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of NIB at a relatively equal pace. Trend forecasting oscillators are currently bearish on NIB.
Mybank Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
43.10
Total Assets (Rs in mn)
35,490.71
MA (10-day)
2.04
Total Equity (Rs in mn)
5,104.86
MA (100-day)
2.32
Revenue (Rs in mn)
3,368.22
MA (200-day)
3.15
Interest Expense
1st Support
1.90
Loss after Taxation
2nd Support
1.85
EPS 09 (Rs)
2,881.90
1st Resistance
2.05
Book value / share (Rs)
2nd Resistance
2.15
PE 10 E (x)
Pivot
2.00
PBV (x)
(1,639.83) (3.092) 9.63 0.21
MYBL closed down -0.10 at 2.00. Volume was 72 per cent above average and Bollinger Bands were 42 per cent narrower than normal. The company's loss after taxation stood at Rs1.392 billion which translates into a Loss Per Share of Rs0.74 for the nine months of current calendar year (9MCY10). MYBL is currently 36.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of MYBL (mildly bearish). Trend forecasting oscillators are currently bearish on MYBL.
BOOK CLOSURES Company
From
To
Karachi Electric Supply Corp East West Life Assurance Nestle Pakistan (TFC) Engro Fertiliser Co. 1st IBL Modaraba United Bank Fauji Fertiliser Co. (TFC) Telecard Faysal Bank (TFC) Allied Bank PICIC Energy Fund Thal Limited Sui Southern Gas Pipelines Fazal Cloth Mills Sana Industries East West Insurance Co. MCB Bank Dawood Hercules Chemicals Engro Corporation (Standalone) Fauji Fertiliser Bin Qasim Oil and Gas Development Co Siemens Pakistan
15-Nov 15-Nov 16-Nov 17-Nov 17-Nov 18-Nov 21-Nov 21-Nov 22-Nov 22-Nov 23-Nov 23-Nov 24-Nov 26-Nov 27-Nov 01-Dec 03-Dec 07-Dec 07-Dec 14-Dec 14-Dec 20-Dec
28-Nov 23-Nov 22-Nov 30-Nov 25-Nov 25-Nov 27-Nov 27-Nov 30-Nov 05-Dec 30-Nov 30-Nov 30-Nov 03-Dec 03-Dec 07-Dec 10-Dec 13-Dec 21-Dec 20-Dec 21-Dec 29-Dec
D/B/R 7.80(R) 10R 250(ii) 3(F) 20(iii) 20(B) 5 20 100SD 10(B) 30(iii) 20(ii) 20(ii) 12.5(iii) 15(i) 600
Spot AGM/Date 04-Nov 04-Nov 05-Nov 10-Nov -
25-Nov 25-Nov 30-Nov 30-Nov 30-Nov 29-Nov 03-Dec 29-Dec
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols
Open
High
Pakistan Cables TRG Pakistan Ltd. Murree BreweryXDXB Lakson Tobacco Eye Television PIAC(A) AKD Capital SPOT Pace (Pak) Ltd Netsol Technol XD Pak Telephone
51 4.43 76 320.1 20.38 2.26 55.82 2.88 18.82 1.86
53.55 4.53 76 324 20.8 2.29 56.99 2.98 18.9 2.75
Low Close 50 4.27 73.51 310 20.1 2.18 54.26 2.8 18.45 2.4
53.16 4.31 74.13 318.82 20.1 2.21 54.65 2.83 18.53 2.4
Change 2.16 -0.12 -1.87 -1.28 -0.28 -0.05 -1.17 -0.05 -0.29 0.54
Vol 495 4005165 1653 814 530 42327 1324 225286 201173 491
7
Saturday, November 13, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,126.93 Turnover 1,901,347 P/E (x) 6.09 Paid up Cap(mn)
Company
Pakistan Telecomm Co A Telecard XD WorldCall Tele Wateen Telecom Ltd
High Low 1,138.06 1,115.00 Total cos Defaulter cos P/BV (x) ROE (%) 0.78 12.84
PE
Open
High
Low
Close Chg
37740 12.73 3000 0.69 8606 6175 -
19.06 2.45 2.62 3.80
19.20 2.53 2.70 3.90
18.91 2.30 2.56 3.71
19.10 2.32 2.58 3.72
0.04 -0.13 -0.04 -0.08
Close 1,125.76 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 489297 546120 865929 42205
Change -1.17 Market cap 77,923.08 mn Div Yield (%) 10.27
Last 60 days High Low 19.76 2.69 2.98 4.60
17.32 1.80 2.30 3.35
% Change -0.10 5-Day High 1,140.19 5-Day Low 1,125.24
2009 Div BR (%) (%) 15 -
-
2010 Div BR (%) (%) 17.5 1 -
Central Insurance XB Century Insurance EFU General Insurance IGI Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Shaheen Insurance Silver Star Insurance United Insurance XB
279 6.36 457 6.66 1250 718 15.58 3000 40.03 250 1.42 350 303 5.28 200 253 4.32 400 1.96
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC XR Kohinoor Energy Kot Addu Power XD Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd XD Southern Electric Tri-star Power XD
Close 1,184.32 Listed cap 95,369.29 mn Payout (%) 104.13
Change 23.71 Market cap 97,526.58 mn Div Yield (%) 8.11
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
198 11572 6.30 1560 7932 1695 10.66 8803 4.83 3673 3.04 3541 24.15 191 3.45 1367 150 -
0.82 33.43 1.56 2.14 19.50 39.55 13.51 14.65 18.66 2.14 1.00
0.93 34.51 1.65 2.20 20.50 39.90 14.09 15.09 18.75 2.17 1.05
0.80 33.50 1.55 2.14 19.10 39.50 13.50 14.68 18.25 2.10 0.75
0.84 0.02 34.42 0.99 1.58 0.02 2.15 0.01 19.18 -0.32 39.73 0.18 13.88 0.37 14.97 0.32 18.50 -0.16 2.10 -0.04 1.05 0.05
18509 5926329 15548 122338 9931 59476 410058 4098282 10201 136200 16500
1.45 37.24 2.25 2.50 26.50 42.95 14.85 16.10 23.49 2.90 1.75
0.51 32.75 0.70 1.94 19.10 38.35 9.50 9.25 18.25 2.05 0.33
% Change 2.04 5-Day High 1,189.01 5-Day Low 1,160.61
2009 Div BR (%) (%) 33.5 45 64.5 20 3
31R -
Open 857.66 Turnover 5,936 P/E (x) 87.66 Paid up Cap(mn)
Company EFU Life Assurance
47.37 9.42 34.76 66.02 12.50 5.06 1.66 8.00 11.51 6.00 4.02
20 25B 40 8.7B 35 30 5 25B 20 15B -14.28B - 20B - 16B
10 10 -
Open
850 42.90
75.01
High Low 882.16 869.56 Total cos Defaulter cos P/BV (x) ROE (%) 3.37 3.85
Close 871.66 Listed cap 2,290.72 mn Payout (%) 355.53
Change 14.00 Market cap 10,126.95 mn Div Yield (%) 4.06
High
Low
Close Chg
Volume
Last 60 days High Low
78.00
75.00
75.50 0.49
5931
82.99
2009 Div BR (%) (%)
51.25
5513.33B
-
-
Performance of SR Financial Services Index Open 424.46 Turnover 12,448,200 P/E (x) 10.00 Paid up Cap(mn)
Company
PE
Open
High
High Low 431.97 408.54 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 0.91 Low
Close Chg
Close 415.92 Listed cap 30,336.44 mn Payout (%) 99.56
Change -8.53 Market cap 29,204.73 mn Div Yield (%) 2.07
Last 60 days High Low
Volume
1.36
0.60
0.70
0.55
0.60 0.00
1.10
0.42
-
-
-
3.66
19.34
19.35
18.50
18.58 -0.76
69391
19.98
13.00
-
-
-
20B
Performance of SR Gas Water and Multiutilities Index
27.18
27.21
26.41
26.50 -0.68
84490
35.23
24.40
15
25B
-
20B
4828383
PE
5491 8390
9.93 3.65
Open
High
33.57 24.50
34.00 24.90
Low 33.20 24.01
Close Chg 33.37 -0.20 24.25 -0.25
Volume 1355272 113809
Last 60 days High Low 34.75 30.70
25.50 16.00
% Change -0.84 5-Day High 1,849.95 5-Day Low 1,799.13
2009 Div BR (%) (%) -
-
2010 Div BR (%) (%) 20 15
25B
Open 1,038.11 Turnover 9,681,948 P/E (x) 7.48 Paid up Cap(mn)
PE
Open
Allied Bank Limited 7821 5.59 57.82 Askari Bank 6427 7.44 15.71 Atlas Bank 5001 1.60 Bank Alfalah 13492 12.21 9.72 Bank AL-Habib 7322 7.15 32.76 Bank Of Khyber 5004 5.28 3.90 Bank Of Punjab 5288 9.67 BankIslami Pak 5280 832.50 3.36 Faysal BankSPOT 6091 5.42 16.92 Habib Bank Ltd 10019 6.51 104.08 Habib Metropolitan Bank 8732 6.40 20.75 JS Bank Ltd 6128 2.81 KASB Bank Ltd 9509 2.46 MCB Bank Ltd 7602 8.93 203.31 Meezan Bank 6983 7.77 14.91 Mybank Ltd 5304 2.10 National Bank 13455 5.75 66.12 Network Mic Bank 300 1.35 NIB Bank 40437 2.78 Royal Bank Ltd 17180 5.97 Samba Bank 14335 1.87 Silkbank Ltd 26716 2.69 Soneri Bank 6023 7.41 Stand Chart Bank 38716 11.54 7.41 Summit Bank Ltd 5000 2.82 United Bank Ltd 12242 6.81 58.13
High
Low
Close Chg
57.90 57.10 57.57 -0.25 15.91 15.53 15.62 -0.09 1.65 1.50 1.53 -0.07 9.79 9.48 9.52 -0.20 33.50 32.10 33.18 0.42 4.70 3.95 3.96 0.06 9.79 9.20 9.27 -0.40 3.44 3.20 3.33 -0.03 17.00 16.70 16.81 -0.11 104.50 103.30 104.21 0.13 21.25 20.50 20.94 0.19 2.83 2.73 2.75 -0.06 2.40 2.30 2.39 -0.07 204.00 200.82 201.39 -1.92 15.05 14.52 14.68 -0.23 2.10 1.95 2.00 -0.10 66.64 65.71 65.84 -0.28 1.23 1.21 1.23 -0.12 2.88 2.70 2.78 0.00 6.30 5.90 5.91 -0.06 1.90 1.79 1.82 -0.05 2.75 2.62 2.69 0.00 7.30 7.00 7.10 -0.31 7.51 7.30 7.50 0.09 3.00 2.80 2.81 -0.01 58.00 57.25 57.94 -0.19
Volume
Change -6.47 Market cap 628,587.89 mn Div Yield (%) 5.41
Last 60 days High Low
37658 58.15 781813 16.65 66309 2.84 914627 10.19 276969 33.75 3502 4.70 1813641 10.50 25313 3.69 140660 17.10 39386 107.15 18813 23.30 134860 3.00 12201 3.22 529155 209.75 24205 15.95 159046 2.75 2307738 70.75 4601 1.47 1123511 3.25 45084 9.50 70460 2.65 590317 3.30 94625 8.00 9271 8.00 30002 3.17 458183 59.24
48.51 14.00 1.50 7.32 29.10 2.50 7.35 2.31 12.85 92.00 18.02 2.00 2.03 180.60 14.00 1.62 60.51 0.26 2.42 5.20 1.51 2.33 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
% Change -0.62 5-Day High 1,049.15 5-Day Low 1,031.64
20 - 20B - 66R 55 -63.46R 10 -
NON LIFE INSURANCE
Paid up Cap(mn)
PE
1237 22.86
Open 78.51
High 79.49
High Low 733.98 716.49 Total cos Defaulter cos P/BV (x) ROE (%) 0.60 5.20 Low 77.50
Close Chg 78.85 0.34
4.63
25.62
26.19
25.01
25.16 -0.46
26.75
20.90
-
-
30
-
107
0.98
1.50
1.25
1.25
1.25 -0.25
174
2.99
0.61
-
-
-
-
Dawood Cap Mngt XB
150
1.12
1.26
1.26
1.25
1.25 -0.01
200000
2.05
0.86
-
-
-
-
Escorts Bank
441
-
2.79
2.67
2.65
2.65 -0.14
502
3.35
1.85
-
-
-
-
First Credit & Invest Bank Ltd 650 14.17
3.00
3.40
3.40
3.40 0.40
351
4.50
2.00
-
-
-
-
IGI Investment Bank
2121 16.31
2.74
2.74
2.60
2.61 -0.13
38370
2.80
1.17
-
-
-
-
Invest Bank
2849
-
0.78
0.79
0.61
0.75 -0.03
263
1.00
0.44
-
-
-
-
Ist Cap Securities XB
3166
-
3.70
3.80
3.66
3.66 -0.04
1067
5.29
2.54
-
10B
-
10B
626
0.66
1.80
1.94
1.80
1.84 0.04
11700
2.84
1.17
-
-
-
-
Jah Siddiq Co
7633
-
12.11
12.25
11.62
11.76 -0.35
6258952
12.58
8.80
-243.778B 10
-
JOV and CO
508
-
4.30
4.48
4.00
4.22 -0.08
586636
5.38
1.96
-
-
-
-
500
Ist Dawood Bank
Close 726.29 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 360591
84.15
63.05
30.14
30.46
29.00
29.09 -1.05
19065
40.30
24.25
150
-
-
-
1000 28.21
6.96
7.10
6.60
6.77 -0.19
173601
7.44
5.10
-
-
-
-
KASB Securities
1000
-
4.15
4.22
4.02
4.10 -0.05
62664
4.75
3.20
-
-
-
-
Orix Leasing
821
4.44
6.00
6.11
5.51
6.04 0.04
7642
6.45
3.66
-
-
-
-
Pervez Ahmed Sec
775
-
2.34
2.48
2.21
2.31 -0.03
103679
2.70
1.35
-231.08R
-
-
Sec Inv Bank
514 10.48
2.99
2.62
2.62
2.62 -0.37
600
3.90
1.65
-
-
-
Performance of SR Equity Investment Instruments Index Open 1,069.03 Turnover 951,883 P/E (x) 15.42 Paid up Cap(mn)
Company
2009 Div BR (%) (%) 30
10B
2010 Div BR (%) (%) 10
-
PE
Open
High
High Low 1,086.22 1,054.60 Total cos Defaulter cos P/BV (x) ROE (%) 0.34 2.21 Low
Close Chg
Close 1,071.83 Listed cap 29,771.58 mn Payout (%) 104.74
Change 2.79 Market cap 15,355.06 mn Div Yield (%) 10.55
Last 60 days High Low
Volume
% Change 0.26 5-Day High 1,079.68 5-Day Low 1,066.52
2009 Div BR (%) (%)
2010 Div BR (%) (%)
AL-Meezan Mutual F.
1375
5.28
6.34
6.39
6.20
6.34 0.00
391
7.20
5.85
-
-
18.5
B R R Guardian Mod.
780
2.93
1.44
1.60
1.21
1.29 -0.15
16064
1.68
0.90
-
-
0
-
High
2.80 56.99 1.10 10.50 19.35 13.84 25.78 49.20 120.00 1946.64 268.04 4088.99 5.62 2.50 0.63 39.50 2.25 10.91 61.00 418.00 27.99 253.00 36.75 1.50 42.50 1910.30 9.64 7.58 34.30 0.68 1.03 20.20 1.55 25.35 21.35 20.20 1.25 6.44 1309.00 1.89 1.90 42.00 28.00 2.58 22.84 33.63 8.70 158.72 0.22 1.65 7.00 56.00 0.87 32.10 11.81 0.88 6.18 1.24 15.00 35.85 6.50 92.50 36.46 1.58 6.35 3.50 3.00 3.49 0.70 6.54 14.98 0.08 17.30 1.16 9.00 16.17 93.86 3.42 65.13 1.52 9.25 0.36 1.99 79.02 53.44
2.85 57.99 1.00 9.55 19.40 13.99 24.50 48.40 119.99 2043.97 280.00 4100.00 6.58 2.79 0.65 40.15 2.84 10.65 60.00 435.00 29.38 262.00 38.30 1.80 44.62 1999.95 9.89 7.79 33.11 1.64 1.17 20.20 1.88 26.00 22.00 20.00 1.79 6.99 1364.00 1.92 1.99 43.00 29.40 2.64 22.95 32.00 9.45 161.99 0.50 1.65 7.99 53.20 1.18 32.79 12.65 1.70 6.18 1.10 15.00 37.51 7.19 95.60 38.28 1.49 6.13 3.10 3.00 3.49 0.85 6.10 14.98 0.08 17.50 1.40 9.27 15.17 94.70 3.88 66.90 1.70 9.10 0.73 2.04 79.89 55.90
Low
Close
2.85 57.99 1.00 9.55 19.40 13.99 24.50 48.40 119.50 1860.11 254.64 3901.00 4.62 2.33 0.65 40.15 1.58 9.99 60.00 397.10 26.60 240.52 38.28 1.26 41.00 1860.01 8.68 7.40 33.11 0.75 1.04 20.20 1.00 26.00 22.00 20.00 1.00 5.55 1271.00 1.92 1.90 43.00 29.40 2.57 22.95 32.00 7.75 150.86 0.24 1.25 6.52 53.20 1.00 31.56 11.62 1.01 6.15 0.56 15.00 37.51 5.52 95.60 38.28 1.49 6.13 3.10 3.00 3.49 0.85 6.10 14.98 0.08 17.50 1.40 9.27 15.17 94.70 3.88 66.90 1.70 9.10 0.73 2.04 79.89 55.90
2.85 57.99 1.00 9.55 19.40 13.99 24.50 48.40 119.99 1943.40 272.35 4050.00 6.32 2.79 0.65 40.15 2.84 10.65 60.00 426.85 28.16 255.00 38.30 1.75 41.00 1989.00 9.83 7.60 33.11 0.80 1.08 20.20 1.58 26.00 22.00 20.00 1.26 6.15 1271.00 1.92 1.93 43.00 29.40 2.63 22.95 32.00 9.20 161.99 0.38 1.60 7.34 53.20 1.00 32.11 12.32 1.36 6.15 0.56 15.00 37.51 5.52 95.60 38.28 1.49 6.13 3.10 3.00 3.49 0.85 6.10 14.98 0.08 17.50 1.40 9.27 15.17 94.70 3.88 66.90 1.70 9.10 0.73 2.04 79.89 55.90
Change
Vol
0.05 1.00 -0.10 -0.95 0.05 0.15 -1.28 -0.80 -0.01 -3.24 4.31 -38.99 0.70 0.29 0.02 0.65 0.59 -0.26 -1.00 8.85 0.17 2.00 1.55 0.25 -1.50 78.70 0.19 0.02 -1.19 0.12 0.05 0.00 0.03 0.65 0.65 -0.20 0.01 -0.29 -38.00 0.03 0.03 1.00 1.40 0.05 0.11 -1.63 0.50 3.27 0.16 -0.05 0.34 -2.80 0.13 0.01 0.51 0.48 -0.03 -0.68 0.00 1.66 -0.98 3.10 1.82 -0.09 -0.22 -0.40 0.00 0.00 0.15 -0.44 0.00 0.00 0.20 0.24 0.27 -1.00 0.84 0.46 1.77 0.18 -0.15 0.37 0.05 0.87 2.46
100 100 100 100 100 100 100 99 95 93 92 66 58 55 50 50 49 47 34 30 30 29 29 27 26 26 21 21 20 17 15 14 13 10 10 10 9 6 6 5 5 5 5 5 5 5 5 5 4 3 3 3 3 3 3 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Crescent St Mod. XD
200
1.50
0.60
0.83
0.52
0.60 0.00
133547
1.10
0.16
-
-
1.2
-
Equity Modaraba
524
8.44
1.19
1.38
1.30
1.35 0.16
1010
1.50
0.76
-
-
-
-
First Capital Mutual F.
300 10.03
4.01
4.01
4.01
4.01 0.00
29001
5.50
1.02
-
-
-
-
760
1.91
2.70
2.80
2.56
2.67 -0.03
59828
3.88
2.32
-
-
17
-
1008
5.34
6.10
6.50
6.11
6.20 0.10
52974
7.25
5.56
20
-
21
-
Symbols
Open
High
Low
Close
-
NML-NOV
54.48
55.01
54.10
54.44
-0.04
690000
DGKC-NOV
28.75
29.00
28.25
28.56
-0.19
483500
POL-NOV
Golden Arrow XD Habib Modaraba Imrooz Modaraba
30
JS Growth Fund
8.67
3180 40.13
47.50
47.50
3.21 0.01
69.95
73939
42.90
3.60
63
-
76 5
-
Change
Vol
2.65
-
1186 11.07
3.09
3.15
3.02
3.10 0.01
127948
3.50
2.31
10
-
10
-
255.30
254.75
250.60
251.40
-3.90
353500
NBP-NOV
66.46
66.80
65.95
66.24
-0.22
253500
5.10
5.25
5.30
5.30
5.30 0.05
78280
7.00
5.15
-
-
15.5
-
LUCK-NOV
76.03
77.00
72.23
73.25
-2.78
233500
NAMCO Bal.Fund
1000
5.00
3.31
3.20
3.00
3.20 -0.11
22410
3.69
2.25
5
-
15
-
MCB-NOV
203.99
204.01
201.65
202.22
-1.77
137000
250
5.09
5.52
6.50
4.60
5.50 -0.02
1102
8.45
4.60
-
-
10
-
AICL-NOV
78.89
79.50
77.81
79.18
0.29
129500
PPL-NOV
193.18
192.69
191.50
191.73
-1.45
78500
PSO-NOV
283.53
284.00
280.22
280.48
-3.05
ENGRO-NOV 179.39
179.60
178.20
178.83
-0.56
57500
Paramount Mod.XD
3.20
500
1200
125
3.29
47.50 0.00
Meezan Bal.Fund
Pak Prem Fund
3.20
47.50
FUTURE CONTRACTS
JS Value Fund
Pak Modaraba XD
% Change 0.14 5-Day High 745.77 5-Day Low 724.42
-
EQUITY INVESTMENT INSTRUMENTS
Nat Bank Modaraba XD
Change 1.02 Market cap 45,240.48 mn Div Yield (%) 6.85
Last 60 days High Low
7.82
JS Investment
2010 Div BR (%) (%)
Performance of SR Non Life Insurance Index Open 725.26 Turnover 1,132,526 P/E (x) 11.62
3750
Cap Assets Leasing
JS Global Cap
High Low Close 1,046.11 1,022.66 1,031.64 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.04 13.94 40.49
-
2010 Div BR (%) (%)
450 13.52
Change -15.22 Market cap 38,668.62 mn Div Yield (%) 5.77
836
% Change -2.01 5-Day High 424.46 5-Day Low 396.14
2009 Div BR (%) (%)
Open
FANM NJICL LMSM SHCM ADMM SANSM ICL GHGL SFL NESTLE PECO ULEVER JKSM SCLL SPLC PPP TRIBL DYNO GLPL FZTM SHFA IDYM GVGL FFLM FECS RMPL FNEL GSPM ATIL MFTM MODAM GUTM FCONM DINT AGL THCCL CWSM GUSM SIEM FDMF DEL NJLIC PRET SSML NCLNCP BWHL STCL PSEL DATM FIBLM IFSL FZCM KOSM SNAI CHCC GRYL SMTM COTT TOWL QUET AGSML SHEZ PHDL TSMF FHBM CSIL UVIC IDSM KSTM MQTM NAKI SMTMR STJT YOUW REWM NSRM AABS CSUML SHJS DBCI ALTN DWAE TREI PAKD GRAYS
2010 Div BR (%) (%)
225
Close 1,799.13 Listed cap 12,202.80 mn Payout (%) 66.79
Symbols
% Change 1.63 5-Day High 871.66 5-Day Low 835.12
360
High Low 1,841.24 1,785.03 Total cos Defaulter cos P/BV (x) ROE (%) 1.32 11.41
UPTO 100 VOLUME
10B 20B -
Arif Habib Limited XB
Performance of SR Banks Index
Adamjee Insurance
59.83 12.00 48.63 86.69 17.05 7.04 6.64 9.91 15.59 8.17 7.18
AMZ Ventures
BANKS
Company
332 25311 12082 1405 356123 1010 372733 1542 505 500 270
Arif Habib Investments
Paid up Cap(mn)
Company
-0.39 -0.14 -0.37 -0.01 -0.08 -0.67 1.00 0.17 -0.50 -0.04 0.59
FINANCIAL SERVICES
Arif Habib Securities
Sui North GasSPOT Sui South GasXDXB
56.00 10.65 44.46 84.00 15.61 6.01 6.64 9.77 14.00 6.95 5.99
GAS WATER AND MULTIUTILITIES Open 1,814.35 Turnover 1,469,081 P/E (x) 11.57 Company
PE
2010 Div BR (%) (%) 50 - 7.8R 15 50 20 -
54.10 10.50 44.00 83.00 15.36 6.01 6.11 9.40 14.00 6.90 5.31
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,192.58 1,160.42 Total cos Defaulter cos P/BV (x) ROE (%) 1.20 9.35
59.15 11.25 45.19 85.89 15.75 6.30 6.64 9.77 14.53 6.99 6.00
LIFE INSURANCE
-
ELECTRICITY Open 1,160.61 Turnover 10,823,373 P/E (x) 12.84
56.39 10.79 44.83 84.01 15.69 6.68 5.64 9.60 14.50 6.99 5.40
3.50
0.79
0.70
0.62
0.70 -0.09
8777
1.40
0.30
-
-
3
-
1698 11.92
8.40
8.60
8.45
8.58 0.18
168181
9.44
7.00
-
-
18.6
-
59
6.25
8.00
8.00
8.00
8.00 0.00
6653
9.45
6.55
15
-
18
-
PICIC Energy F. SPOT
1000
1.67
5.84
5.95
5.75
5.75 -0.09
38640
5.95
4.00
-
-
10
PICIC Growth Fund
2835
5.70
9.00
9.00
8.75
8.89 -0.11
26470
9.45
7.60
-
-
PICIC Inv Fund
2841
4.88
4.27
4.34
4.15
4.29 0.02
75471
4.75
3.50
-
-
75500
FFBL-NOV
32.91
33.45
33.20
33.20
0.29
33500
-
ANL-NOV
10.96
10.98
10.60
10.70
-0.26
27000
20
-
OGDC-NOV 157.00
158.00
157.01
157.50
0.50
8000
10
-
NCL-NOV
23.05
22.70
22.70
22.70
-0.35
5000
BOP-NOV
9.84
9.68
9.30
9.30
-0.54
FFC-NOV
110.50
110.50
110.50
110.50
0.00
1000
UBL-NOV
58.25
58.00
58.00
58.00
-0.25
1000
AICL-CNOV
79.02
0.00
0.00
79.32
0.30
0.00
Prud Modaraba 1st
872
2.25
0.91
0.99
0.87
0.99 0.08
188
1.20
0.70
-
-
3
-
Punjab Modaraba XD
340
8.57
1.60
1.85
1.56
1.80 0.20
30198
1.94
0.57
-
-
1
-
Stand Chart Modaraba
454
4.35
8.61
8.88
8.60
8.88 0.27
146
10.99
7.75
16.5
-
17
-
3000
BOARD MEETINGS
Hub Power Co Ltd
KSE 100 INDEX
Dera Ghazi Khan Cement Co Ltd
Lucky Cement Ltd
Company
Date
Time
Dandot Cement Company Ltd Honda Atlas Cars (Pakistan) Ltd
13-Nov 23-Nov
4:30 11:00
TECHNICAL LEVELS Company Al-Abbas Cement
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
66.72
Support 1
10,842.00
MA (5-day)
10,919.10
Support 2
10,809.95
MA (10-day)
10,773.39
Resistance 1
10,917.15
MA (100-day)
10,125.29
Resistance 2
10,960.35
Fair Value
Rs Recommendations
10,053.46
Pivot
Brokerage House
Fair Value
*Arif Habib Ltd
65
AKD Securities Ltd
59.97
TFD Research
74.2
*Arif Habib Ltd
97
Buy
*Arif Habib Ltd
42
Buy
Buy
AKD Securities Ltd
105.2
Buy
AKD Securities Ltd
43.29
Buy
Positive
TFD Research
72.75
Neutral
TFD Research
36.85
Positive
TFD Research
44.9
Technical Outlook Technical Analysis
Brokerage House
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
61.33 53.10 47.84 51.05
Buy
AKD Securities Ltd TFD Research
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
* Target price for Dec-10 & **Net Open Interest in future market
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
49.87 73.91 68.92 70.54
Rs Recommendations
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
182.55 5,184.41 37.86 28.53
58.30
57.50
61.65
62.45
61.10
Arif Habib Limited
49.61
26.20
25.90
27.00
27.50
26.70
Arif Habib Securities
58.92
24.70
24.25
25.90
26.65
25.45
Adamjee Insurance
63.62
77.75
76.60
79.70
80.60
78.60
Askari Bank
53.85
15.45
15.30
15.85
16.05
15.70
Azgard Nine
48.33
10.45
10.30
10.85
11.10
10.70
Attock Petroleum
43.30
299.15
295.85
307.60 312.75 304.30
Attock Refinery
80.94
120.70
118.50
125.30 127.70 123.10
Bank Alfalah
54.55
9.40
9.30
9.70
BankIslami Pak
53.77
3.20
3.10
3.45
3.55
3.30
Bank Of Punjab
54.96
9.05
8.85
9.65
10.00
9.40
Dewan Cement
54.29
1.45
1.30
1.80
1.95
1.65
DGK Cement
57.38
28.05
27.70
28.85
29.35
28.50
Dewan Salman
58.85
1.60
1.55
1.70
1.75
Dost Steels Ltd
9.90
9.60
1.65
58.36
2.85
2.75
3.05
3.15
2.95
EFU General Insurance 56.18
43.90
43.35
45.10
45.75
44.55
EFU Life Assurance
59.40
74.35
73.15
77.35
79.15
76.15
Engro Chemical
177.70
177.20
16.70
16.55
4.90
4.85
5.05
5.10
4.95
age (trending) and Bollinger Bands were 13 per cent wider than normal.
Fauji Fert Bin
70.66
32.55
32.10
33.45
33.85
32.95
LUCK is currently 3.3 per cent above its 200-day moving average and is DGKC is currently 5.6 per cent above its 200-day moving average and is
Fauji Fertilizer
58.74
109.60
109.20
110.45 110.90 110.05
displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is extremely high when compared to
Habib Bank Ltd
60.83
103.50
102.80
104.70 105.20 104.00
the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators
Hub Power
58.06
33.75
33.15
ICI Pakistan
62.86
131.80
130.90
133.80 134.90 132.90
Indus Motors
79.70
252.70
245.10
265.75 271.20 258.15
JOV and CO
62.31
4.00
3.75
4.45
4.70
Japan Power
51.09
1.55
1.50
1.65
1.70
JS Bank Ltd
58.66
2.70
2.65
2.80
2.85
2.75
Jah Siddiq Co
44.21
11.50
11.25
12.15
12.50
11.90
Kot Addu Power
45.16
39.50
39.30
39.90
40.10
39.70
KESC
51.34
2.10
2.05
2.20
2.25
2.15
Lucky Cement
49.87
70.85
68.85
75.85
78.85
73.85
MCB Bank Ltd
51.71
200.15
198.90
Maple Leaf Cement
44.03
2.75
2.70
2.95
3.05
2.85
National Bank
51.28
65.50
65.15
66.40
67.00
66.05
Nishat (Chunian)
63.46
22.55
22.15
23.30
23.65
22.90
Netsol Technologies
47.60
18.35
18.20
18.80
19.10
18.65
NIB Bank
50.31
2.70
2.60
2.90
2.95
Nimir Ind.Chemical
47.13
1.35
1.30
1.50
1.60
1.45
Nishat Mills
61.33
53.70
53.25
54.75
55.35
54.30
Oil & Gas Dev XD
74.31
157.80
157.15
PACE (Pakistan) Ltd
45.74
2.75
2.70
2.95
3.05
2.85
Pervez Ahmed Sec
60.03
2.20
2.05
2.45
2.60
2.35
PIAC(A)
47.68
2.15
2.10
2.30
2.35
2.25
Pioneer Cement
42.04
7.30
7.20
7.60
7.80
7.50
Pak Oilfields
55.85
248.25
246.45
252.75 255.55 251.00
Pak Petroleum
54.92
190.30
189.75
191.60 192.35 191.05
Pak Suzuki
46.08
71.70
70.00
PSO XD
57.51
277.35
275.70
PTCLA
51.76
18.95
18.80
Shell Pakistan
56.62
194.35
192.65
Sui North Gas
59.14
33.05
32.70
33.85
34.30
33.50
Sitara Peroxide
76.46
13.95
13.70
14.45
14.70
14.20
Sui South Gas
43.55
23.90
23.50
24.75
25.30
24.40
Telecard
48.84
2.25
2.15
2.45
2.60
TRG Pakistan
56.55
4.20
4.10
4.45
4.65
4.35
United Bank Ltd
67.55
57.45
57.00
58.20
58.50
57.75
WorldCall Tele
51.06
2.50
2.45
2.65
2.75
2.60
age and Bollinger Bands were 2 per cent wider than normal.
reflect moderate flows of volume into LUCK (mildly bullish). Trend forecast- reflect volume flowing into and out of DGKC at a relatively equal pace. ing oscillators are currently bullish on LUCK.
Brokerage House
AKD Securities Ltd TFD Research
Trend forecasting oscillators are currently bullish on DGKC.
Fauji Fertiliser Bin Qasim Ltd
Fair Value
Rs Recommendations
301
Buy
296.6 281.35
Brokerage House *Arif Habib Ltd
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
55.85 248.73 231.27 232.00
35
Buy
AKD Securities Ltd
Positive
TFD Research
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
32.06 29.1
Rs Recommendations Buy Accumulate Negative
Technical Outlook
Technical Outlook Technical Analysis
Fair Value
107.94 26,982.02 155.33 251.74
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
70.66 32.07 28.71 29.57
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
326.94 10,792.24 25.32 32.94
* Target price for Dec-10 & **Net Open Interest in future market
Bollinger Bands were 32 per cent wider than normal. and Bollinger Bands were 34 per cent wider than normal. and Bollinger Bands were 27 per cent narrower than normal. FFBL is currently 12.8 per cent above its 200-day moving average and is NML is currently 6.1 per cent above its 200-day moving average and is dis- NBP is currently 1.4 per cent below its 200-day moving average and is dis- POL is currently 7.8 per cent above its 200-day moving average and is disdisplaying an upward trend. Volatility is extremely high when compared to playing an upward trend. Volatility is extremely high when compared to the playing an upward trend. Volatility is high as compared to the average playing an upward trend. Volatility is high as compared to the average the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume volatility over the last 10 trading sessions. Volume indicators reflect modreflect very strong flows of volume into FFBL (bullish). Trend forecasting reflect moderate flows of volume into NML (mildly bullish). Trend forecast- flowing into and out of NBP at a relatively equal pace. Trend forecasting erate flows of volume into POL (mildly bullish). Trend forecasting oscilla- oscillators are currently bullish on FFBL. Momentum oscillator is currently and Bollinger Bands were 28 per cent narrower than normal.
oscillators are currently bullish on NBP.
57.95
59.70
51.54
* Target price for Dec-10 & **Net Open Interest in future market
NML closed down -0.11 at 54.18. Volume was 14 per cent below average NBP closed down -0.28 at 65.84. Volume was 10 per cent below average POL closed down -3.94 at 249.98. Volume was 15 per cent above average FFBL closed up 0.15 at 33.01. Volume was 36 per cent below average and
ing oscillators are currently bullish on NML.
56.70
60.30
76.21
Positive
* Target price for Dec-10 & **Net Open Interest in future market
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
57.15
44.22
51.53
Neutral
318.37 20,961.28 82.56 66.08
57.38 28.20 25.88 26.89
69.92
Attock Cement
Fauji Cement
*Arif Habib Ltd
Leverage Position
Leverage Position
Allied Bank Limited
Faysal Bank
92.3
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
129.35 9,421.85 22.97 74.29
* Target price for Dec-10 & **Net Open Interest in future market
61.96
51.28 65.45 65.82 70.90
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Technical Analysis
1st 2nd Pivot Resistance 3.30 3.35 3.20
LUCK closed down -2.76 at 72.84. Volume was 169 per cent above aver- DGKC closed down -0.19 at 28.40. Volume was 11 per cent below aver-
Technical Outlook 175.80 9,524.84 74.12 54.30
Leverage Position
Pakistan Oilfields Ltd
Buy
Technical Analysis
Technical Outlook
Technical Outlook
Leverage Position
84
Positive
Leverage Position
Rs Recommendations
Buy
Technical Outlook Technical Analysis
Fair Value
44
*Arif Habib Ltd
Buy
Brokerage House
47
National Bank of Pakistan
Rs Recommendations
Rs Recommendations
AKD Securities Ltd
10,885.15
Nishat Mills Ltd
Fair Value
*Arif Habib Ltd
RSI (14-day) 58.06 Free Float Shares (mn) 810.01 MA (10-day) 33.70 Free Float Rs (mn) 27,880.48 KSE 100 INDEX closed down -31.22 points at 10,874.02. Volume MA (100-day) 34.24 ** NOI Rs (mn) N/A was 25 per cent above average and Bollinger Bands were 14 per MA (200-day) 33.89 Mean 33.97 cent narrower than normal. As far as resistance level is concern, the * Target price for Dec-10 & **Net Open Interest in future market market will see major 1st resistance level at 10,917.15 and 2nd HUBC closed up 0.99 at 34.42. Volume was 249 per cent above average resistance level at 10,960.35, while Index will continue to find its 1st (trending) and Bollinger Bands were 55 per cent narrower than normal. support level at 10,842.00 and 2nd support level at 10,809.95. KSE 100 INDEX is currently 8.2 per cent above its 200-day moving HUBC is currently 1.6 per cent above its 200-day moving average and is average and is displaying an upward trend. Volatility is relatively nor- displaying an upward trend. Volatility is extremely high when compared to mal as compared to the average volatility over the last 10 trading the average volatility over the last 10 trading sessions. Volume indicators sessions. Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently reflect very strong flows of volume into HUBC (bullish). Trend forecasting oscillators are currently bullish on HUBC. bullish on INDEX. MA (200-day)
Brokerage House
RSI 1st 2nd (14-day) Support 53.01 3.15 3.10
tors are currently bullish on POL.
indicating that FFBL is currently in an overbought condition
178.80 179.40 178.30 17.00
34.80
17.15
35.15
16.85
34.15
4.25 1.60
203.30 205.25 202.05
2.80
159.00 159.55 158.35
76.00
78.60
74.30
281.95 284.90 280.30 19.25
19.35
19.05
198.85 201.65 197.15
2.40
8
Saturday, November 13, 2010
KARACHI FASHION WEEK
Aliens attack Los Angeles in new sci-fi film
T
KARACHI: – Models walking on the ramp to display the dresses during the fashion week. APP
KARACHI: Models display dresses by country’s famous designers during the fashion week in Karachi.-APP
his city has the worst luck. Through decades of disaster films, Los Angeles has been targeted by aliens, toppled by temblors, sunken by tsunamis, leveled by lava, and a rogue tornado once took out the Hollywood sign. And so it will be that calamity again strikes the City of Angels in the new sci-fi film "Skyline," opening Friday, followed by another bout of destruction early next year in the movie "Battle: Los Angeles." What is it about L.A. that invites such repeated devastation? "People love watching Los Angeles get destroyed," says "Battle: Los Angeles" director Jonathan Liebesman. "It's nice to screw up the great weather." But there's so much more to it than that. The city is home to Hollywood and the movie business, so the artists who write about, direct and execute mass destruction in Los Angeles are often intimately familiar with the territory. Production designer Jackson De Govia — who helped blow up the Beverly Center shopping mall and decimate Wilshire Boulevard's museums in 1997's "Volcano" — says he loves trashing his own city on film. "One of the funnest things you can do in movies is blow stuff up," says De Govia, who also pulverized Nakatomi Plaza in the original "Die Hard." "And if you're blowing up your hometown, and that hometown is Los Angeles, it's even better, because who hasn't wanted to do that at times?" "It allows the scale of the disaster to strike everybody," he says. "Everybody recognizes the Hollywood sign. It's like, 'Oh, that's big.'"
Aamir to clash with Shah Rukh?
A
amir Khan has announced that he would next be working with Reema Kagti on the yet untitled suspense drama. While the film's leading ladies (there are two in the film) are yet to be revealed, it is being said that this joint production of Farhan Akhtar-Ritesh Sidhwani and Aamir Khan would be ready for release by end of 2011. The makers of this film are also the ones behind Shah Rukh Khan's DON 2 (which is also being directed by Farhan Akhtar), which is all set for 23rd December release. This means that it could well be the case of a little too much for the production house as well to release two of their major films around the same time. "I can't really be commenting on this actually", Reema maintains her distance from the pro-
duction matters, "The release plans are still being talked about and I don't know the exact timeline of the film's release. Yes, there are talks about releasing it before end of 2011 but let's see." However, the fact still remains that suspense dramas are not known for being opulent affairs which means that this Aamir Khan film could be possibly smaller in comparison to his other films in the past. Of course all of this is still a speculation and the best person to comment upon the scale of the film would be Reema. "Well, yes you are right; it is futile to speculate. Also, it is hard to quantify things in the manner you state. All I can say at this point is that the film would be good enough to compete with the biggest of films in 2011", says Reema.
3 Idiots triumphs at GIMA awards
A
amir Khan starrer 3 Idiots bagged five honours at the first Chevrolet Global Indian Music Awards (GIMA), a grand affair with legends like Lata Mangeshkar, Asha Bhosle along with Salman Khan and Kareena Kapoor gracing the event. Director Rajkumar Hirani's superhit film won awards for best engineer for Bishwadeep Chatterjee and Anup Dev; best lyricist for Swanand Kirkire; best playback singer for Shaan and Shantanu Moitra; most popular song on Red FM for All Izz Well; and best film album. Held Wednesday at the Yash Raj Studios in Andheri West, GIMA is an initiative of Wizcraft International Entertainment to honour talent across film and non-film music. Singing legend Asha Bhosle,
who is also the goodwill ambassador of GIMA, kicked the event off with non-film song Allah Rakha. After that the awards were rolled out. Iktara from Wake Up Sid scored a hattrick by winning awards for best playback singer for Kavita Seth, HT Reader's choice singer of the year and best film song. One of the main highlights of the event was the best devotional album trophy awarded to India's Nightingale Lata Mangeshkar, her first ever award in a non-film category. "I'm very grateful to people for giving me this award. This is my first non-film award ever. I never got an award in this category earlier, so this is truly special," said Lata, who got the award for her renditions in the album Sri Hanuman Chalisa.
GOLMAAL 3 earns 70 crores in opening weekend
T
he GOLMAAL 3 has garnered an impressive gross collection of Rs 70 crores worldwide in the opening weekend itself. Eros International Media Ltd (Eros International), the largest studio in India has announced the stupendous opening for Rohit Shetty's GOLMAAL 3, produced by Shri Ashtavinayak Cine Vision Ltd which released across theatres worldwide on 05 November 2010. The film has garnered an impressive gross collection of Rs. 70 crores worldwide in the opening weekend itself. The much awaited Diwali release triumphed at the box office with a remarkable gross collection of Rs. 60 crores (Net Collection of Rs. 40 crores) in India and Rs. 10 crores overseas within just three days. The film opened across 2000 plus screens worldwide to rave responses and continues to draw in record numbers. One of the most anticipated films this year, GOLMAAL 3 stars Ajay Devgn, Kareena Kapoor along with Mithun Chakraborty, Arshad Warsi, Tusshar Kapoor, Shreyas Talpade, Kunal Khemu, Ratna Pathak, Jhonny Lever, Sanjay Mishra, Vrajesh Hirjee and Ashwini Kalsekar. Commenting on the opening, Nandu Ahuja, Sr. VP, Distribution, Eros International Media Ltd said, "It's a very proud moment for us as GOLMAAL 3 opened at 80% 90% occupancy across the country. Moreover, the long Diwali weekend helped draw in large footfalls in theatres.
Ali Javeri Shines at Shop Launch Beautifying Your Walls I
M Imran Sharif KARACHI: Established brand, Ali Javeri Jewelers, a well-known name in the traditional Pakistani family business with a strong loyal clientele, recently celebrated the launch of their second outlet at the upscale retail hub of Zamzama. The Jewelry show held at Baan Thai Restaurant Zamzama and Photographs taken by Arsalan Bilgrami. The launch was organized by Catwalk Event Management and Managed by Catalyst PR & Marketing. The glitterati of the city including prominent politicians and the media joined friends and family of Ali & Afroze Javeri, the entrepreneurial couple behind the long-running venture, in the festivities that were held at the premises. Specializing in diamond, the latest collection is stacked with the usual stunningly flawless brilliance that their patrons have come to expect from them. Having made a name for herself as the leading kundan and bridal jewelry designer, Afroze is now incorporating her own style into the collection. The complete range of exquisite diamond jewelry, from rings, earrings, pendants, bracelets, bangles to complete sets had the women in awe. A few even lined up to try on a diamond ring or two! A fashion show was organized at the launch party. Supermodel Iraj dazzled in Ali's exclusive sets. So did models Neha, Sadaf, Aayan, Zeb and Hira who enthralled the audience at the catwalk.
Numerous well-known well-wishers were at hand to greet Ali and Afroze at their hard earned success. These included Ms. Sharmila Farooqi, Advisor to the Chief Minister of Sindh, Ms Nasreen Jaleel, ex-Naib Nazima, CDGK, Mr. Didier Boschung, Consul General of Switzerland, Rukkiya Adamjee, socialites Mrs. Ashfaq Bardi, Hina Roger Bayat, Syeda Leghari, Shazia Hasan Sardar designers Mrs. Huma Amir Adnan, Sonya Batla, and prominent businessmen, including Mr. Zafar Moti. Thanking his admirers for showing up in numbers at the launch, Ali said, "The people you see here today are testament to the hard work that we've put in our service and quality. Our work has been exhibited all across the globe, including the US where we've participated in a number of conventions, including the Apna convention." Afroze added, "Ali Javeri Jewelers is a wellknown established brand name where customer satisfaction is the primary goal. We have incorporated, with time, the changing needs of the Pakistan's new generation, catering especially to the modern Pakistani woman." Ali Javeri Jewelers is located on Second Zamzama Lane, DHA Phase V, Karachi.
moved into a new house a few months ago, and for two whole weeks, I stood staring at a blank space on my wall, trying desperately to figure out what should go there. Finally, I realized that my problem was that I was thinking too small; I was thinking about a painting or a picture frame, when I should have been using my creative side to fill in the blanks. Paintings and picture frames are great additions to walls, but there are other options as well. If you're just a little handy by which I mean, you can use a hammer at least half the time, you can make unique wall decorations that will be the envy of your friends and a joy in your home. When I was still in my teens, my maternal grandparents died. We were very close to them, and my mother had an especially hard time with their deaths. So, in my mother's grief, wisdom and creativity, she created shadow boxes for our family of her parents. We went to antique stores and found old domino sets and handkerchiefs and other items that reminded us of our loved ones and created shadow boxes that now hang in the entry ways of their homes. The boxes decorate the walls but they also symbolize the love and legacy left by those
we love. If you love blankets or quilts, there are some very unique ways to decorate your walls with the items. This is where the hammer comes in, by the way. You can actually take pieces of wood attached to your wall, drill holes in them, and put dowel rods in the holes. On these rods you can hang your quilts or blankets just like you can on a regular quilt rack, except this way they decorate your walls. Placing the items just above a sofa is a great way to keep blankets nearby when
you watch movies or snuggle up next to the fire. Also, if you enjoy quilting or sewing, you may want to use a similar structure on the wall to hold bolts of fabric for your creations. The walls look lovely, and you're also organizing your home! Here are just a few other ideas. You can use old windows and some curtains to make a faux window in a room without enough windows. Your can use old picture frames to "frame" an oil painting or collage or quotations. Using small vases, you
can have fresh flowers hanging on your wall. You could also make part of your wall into corkboard or a set of box frames so that you can display your children's artwork. However you choose to decorate your walls, create a room that will be enjoyable for all. When a room fits the personality of you and your family, then anyone who visits will feel comfortable spending time with you. Your comfort is equivalent to your guests' comfort, so enjoy your home and your friends will enjoy it too.
9
Saturday, November 13, 2010
Sugar logs sharp losses; Coffee slips
NEW DELHI: Indian farmers shout slogans against government as they march to Parliament House during a demonstration. Hundreds of farmers protested against alleged anti-farmer policies imposed by the state and central governments and higher compensation for their land acquired. -Agencies
European vegetable oil prices ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 948.00-2.00, May11/Jul11 950.00-3.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 932.00-3.00, May11/Jul11 940.00+0.00, Aug11/Oct11 923.00+0.00, Nov11/Jan12 925.00. SUNOIL: EU dlrs tonne extank six ports option Jan11/Mar11 1490.00+0.00, Apr11/Jun11 1435.00-10.00, Jul11/Sep11 1480.00+0.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Nov10 1140.00-20.00, Dec10 1140.00-17.50, Jan11 1132.50, Jan11/Mar11 1130.00-22.50, Apr11/Jun11 1130.00-22.50. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1165.00, Jan11/Mar11 1162.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Nov10/Dec10 1570.00-10.00, Dec10/Jan11 1570.00-10.00, Jan11/Feb11 1565.00-15.00, Feb11/Mar11 1560.00-20.00. Mal/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1705.00, Nov10/Dec10 1690.00-5.00, Dec10/Jan11 1680.00-10.00, Jan11/Feb11 1675.00-5.00, Feb11/Mar11 1675.00-5.00, Mar11/Apr11 1670.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Nov10/Dec10 1925.00+0.00. Reuters
Tokyo, Shanghai rubber slump on profit-taking TOKYO: Tokyo rubber futures plunged 5 per cent and Shanghai futures fell by their daily limit on Friday as investors grew wary of the recent rapid pace of rises and closed positions, while sharp selling in other commodities also dampened sentiment. The key Tokyo Commodity Exchange rubber contract for April delivery settled at 360 yen per kg, down 19.1 yen, after falling to as low as 357.5 yen. The contract posted a weekly loss of about 0.5 per cent, after last week's more than 10 per cent gain. TOCOM rubber futures hit 30-year highs for a third straight day on Thursday, while Shanghai rubber futures have been marking successive highs this week as concerns over supply shortages intensified speculative buying of the commodity, traders said. The most active Shanghai rubber futures contract for May delivery closed limit down at 35,790 yuan per tonne on Friday, down sharply from a record high of 38,920 yuan ($5,871) per tonne marked on Thursday. Volume stood at 34,184 lots, as the contract hit limit down soon after the open, compared with 1.84 million lots on Thursday. -Reuters
Palm sheds 3pc; China soyoil limits down KUALA LUMPUR: Malaysian crude palm oil futures on Friday eased from more than two year-highs hit the previous day, on concerns of higher China inflation and a broader selloff in commodities linked in part to Irish debt woes. China's Oct inflation hit a 25-month high, leaving little doubt about why the central bank raised reserve requirements this week and indicating further tightening steps may be in the offing -- a move that may slow commodity demand. "China and Europe are giving very good excuses for players to take profit after the strong rally," said a Malaysian trader with a foreign brokerage. The benchmark January 2011 contract on the Bursa Malaysia Derivatives Exchange dropped 1.3 per cent to 3,353 ringgit ($1,077), after going as low as 3,269 ringgit -- the lowest since
Nov. 8 and coming off a 27month high hit on Thursday. Overall traded volume almost tripled to 29,159 lots of 25 tonnes each. However, worries over heavy showers in Malaysia continued to support prices as key palm producing states are likely to be hit by a second wave of monsoon rains this month and in December. Lee Yeow Chor, executive director of IOI, the world's third largest listed producer of the vegetable oil estimated palm oil prices at 3,000 ringgit per tonne, and said prices will extend their rally into mid-2011. Other vegetable oil markets also fell in the broadbased selloff, led by crude oil and industrial metals. US soyoil for Dec delivery tumbled 3.5 per cent. The most active September 2011 soyoil contract on China's Dalian commodity exchange hit limit down of 4 per cent. Reuters
Copper knocked by Chinese rate woes LONDON: Copper fell on Friday, receding from the previous session's record high to hit a one-week low on talk of an interest rate hike in top consumer China, but analysts said good fundamentals supported the metal longer-term. Benchmark copper on the London Metal Exchange closed at $8,615 a tonne, down from a close of $8,830. It fell to as low as $8,575, its lowest since Nov.4. Zinc fell as much as 7 per cent to $2,365.25 a tonne, its lowest since Oct 19, while nickel fell more than 6 per cent to $22,500 a tonne, matching a low hit on Sept. 24. Copper rose some 2 per cent on Thursday to an all-time peak of $8,966 a tonne, surpassing levels hit in the commodity boom before the Lehman collapse in late 2008 that heralded a stinging global economic downturn. Commerzbank analyst Daniel Briesemann said concerns about potential further Chinese monetary policy tightening were knocking metals, but he said the fears would subside. "This should only be short-lived," he said. "Even if they hike interest rates further or implement even more energy-saving measures, this should only have a short-term effect on base metals demand," he said of China. Markets were also jittery due to concerns about sovereign debt in the euro-zone. The euro rose having earlier hit six-week lows versus the dollar. Ireland's finance ministry said on Friday it is not in talks to apply for emergency funding
from the European Union, reacting to comments from euro-zone sources that discussions had begun. Copper volumes were at their third highest ever, nearing 28,000 lots.
Shanghai metals limit down Benchmark third-month Shanghai copper closed 5 per cent down at its downside limit at 65,340 yuan. Shanghai Zinc ended on its downside limit at 19,680 yuan from Thursday's settlement. Meanwhile, supply concerns have underpinned copper prices, with week-long strike action possibly threatening to curtail output from the world's No. 3 copper mine, Chile's Collahuasi. Across other metals, zinc closed at $2,394 a tonne, versus its $2,542 close. China sold almost all of the 50,000 tonnes of zinc up for sale at an auction of state reserves on Nov 9, with an average sale price of 19,511 yuan per tonne. Aluminium was at $2,404 a tonne versus $2,458, while lead was at $2,520 a tonne from $2,610. Lead, which touched a low of $2,485 a tonne, had hit a ten-month high of $2,650 on Thursday. Tin was last quoted at $26,150/26,175 a tonne, falling from $27,000, and nickel closed at $22,700 a tonne from $24,000, weighed by rising stocks and a dearth of demand from key consumers in the stainless steel sector. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for November 11 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1300
1240
October (3rd Wednesday)
1310
1250
November (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for November 11 2010
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
2260 2261 2235 2245 2175 2185 2175 2185
2445 2446 2472 2473 2522 2527 2565 2570
8924 2593 8925 2593.5 8920 2616 8925 2617 8710 2560 8720 2565 8370 2522 8380 2527
LONDON: Sugar futures fell sharply on Friday after a surprise move by the European Union to boost exports and broad-based losses in commodity markets driven by talk that China may raise interest rates. Coffee and cocoa prices also fell, joining many other commodities in negative territory including base metals, precious metals, grains and crude oil. Raw sugar futures on ICE had started to fall back on Thursday after scaling a 30year high for the front month earlier in the session. March raws on ICE dipped as low as 27.61 cents before rebounding to 28.12 cents by 1605 GMT, still down 1.54 cents or 5.2 per cent. White sugar futures on Liffe registered a steeper decline than raws on Friday as the market caught up with a second sharp downward move by ICE raws on Thursday, when Liffe was closed. December whites slid to $707.60 a tonne in early trade as a wave of stops was triggered before recovering to $745.60, down $51.70 or 6.5 per cent at 1606 GMT. Arabica coffee futures on ICE also fell, with March down 3.55 cents or 1.7 per cent at $2.0595 per lb. The contract had climbed as high as $2.2145 on Wednesday, a 13-1/2 year high for the second month. Dealers said the market has become overbought after a steep run-up in prices but remained underpinned by supply concerns following several years of below-par crops in Colombia. Robusta coffee on Liffe fell, with January down $41 or 2.1 per cent at $1,890 a tonne. Cocoa futures were swept lower in the broad-based decline, with the March contract on ICE off $79 or 2.8 per cent at $2,787 a tonne and Liffe March down 33 pounds or 1.8 per cent at 1,838 pounds a tonne. -Reuters
24195 24200 24250 24275 23900 24000 23050 23150
TIN
ZINC NASAAC
27075 2517 27100 2517.5 27000 2540.5 27050 2541 26475 2580 26525 2585 2538 2543
2321 2326 2340 2360 2345 2355 2400 2410
Oil drops towards $86 on euro concerns, China talk IEA trims 2011 oil demand growth estimate, raises 2010 LONDON: Oil fell towards $86 a barrel on Friday, slipping from a 25-month high reached in the previous session, as concern about Irish debt and talk that China may raise interest rates spurred a retreat from riskier assets. Attention in the oil market refocused on risk aversion and macroeconomic concerns at the end of a week when prices were sent higher by Chinese demand at a record and US inventories plunging. "This price slump can be explained by a general weakness of commodity prices triggered by the stronger US dollar and rumours of an imminent interest rate hike in China," said Carsten Fritsch, analyst at Commerzbank. "Consequently, we are likely to be seeing profit taking by short-term oriented investors primarily."
US crude was down $1.43 a barrel at $86.38 as of 1449 GMT, after touching an intraday peak of $88.63 on Thursday, the highest since October 2008. ICE Brent slid $1.24 to $87.57. Some analysts said oil's rally had got ahead of itself based on fundamentals of supply and demand.
"When you look at the fundamentals, although improving during the week, they are not really supporting a very strong increase in oil prices as we have had," said Christophe Barret of Credit Agricole. The euro bounced from sixweek lows against the dollar on Friday as EU leaders sought to
reassure nervous bondholders and on speculation, quickly denied, a rescue package for Ireland was being hammered out. The International Energy Agency, an adviser to 28 industrialised countries, on Friday predicted a slowdown in the rate of growth in global oil demand next year, while raising its forecast for 2010. Concerns about Ireland overshadowed a Group of 20 leaders' summit in Seoul, where a breakthrough on resolving global economic imbalances amid incongruent policies looked unattainable. Oil had rallied for most of the past two weeks, partly on a plan by the US Federal Reserve to buy $600 billion in Treasury bonds to help speed economic growth. -Reuters
US cotton closes lower for 2nd day NEW YORK: US cotton futures closed lower on Thursday for the second day running due to investor sales and profit-taking, pressured by lower Chinese cotton prices as the trade mulled whether the four-month long rally is finally at an end, analysts said. Cotton prices had been rallying since July and hit levels this week that have not been since the US Civil War in the 19th century. Chinese cotton prices limit down, weighs on New York Despite selling off in the last two sessions. The benchmark March cotton contract on ICE Futures US fell
1.93 cents to end at $1.3918 per Another major factor for the lb, dealing from $1.3666 to lower market was the increase in $1.428. The spot December cot- cotton margins to its highest ton futures lost 1.44 cents to end level since 1996, which promptat $1.4421. Late index fund NY cotton early-trade rolling narrowed the differ- The benchmark March cotton ence between the two con- contract on ICE Futures US fell the tracts and pushed December 5-cent trading limit to $1.3418 per into negative territory. lb. The session high was $1.3655. The primary catalyst for the fall on Thursday in US cotton ed investors who have seen the values were sharply weaker cot- market rise nearly 32 cents this ton prices in China during Asian month to cash in their gains. trade. The Zhengzhou On Friday, the market will take a Commodity Exchange's May look at the US Agriculture cotton contract was last traded Department weekly export sales Thursday at the session low of report to gauge demand for US 31,345 yuan per tonne, down cotton despite the current high prices. -Reuters 1,650 yuan on the day.
Gold under pressure as EU debt fears ease LONDON: Gold prices stayed under pressure on Friday, drawing scant benefit from a slide in the dollar, as talk of an EU rescue package to tackle Ireland's debt woes removed some safe-haven demand from the market. Spot gold was bid at $1,392.24 an ounce at 1433 GMT against $1,409.39 late in New York on Thursday, off a session low of $1,378.00 an ounce. US gold futures for December delivery fell $10.10 an ounce to $1,393.20. Prices slipped sharply in earlier trade as concerns that Ireland would, like Greece, need a bailout knocked the euro, and as it was caught up in selling of assets seen as higher risk amid talk of a Chinese rate hike. The precious metals lifted
from lows as the dollar slipped lower, but has failed to make much headway after EU leaders sought to reassure bondholders over the value of their assets.
after European leaders sought to reassure investors. Meanwhile major European stock markets were lower after a weak session in Asia which notably saw the
A statement from France, Germany, Italy, Spain and Britain issued at the Group of 20 summit in Seoul, said bondholders would not be forced to write down the value of their bond holdings in the event of a new eurozone bailout. The euro rose from a sixweek low against the dollar
Shanghai composite index fall 5 per cent, its biggest oneday drop since May, on talk of another Chinese interest rate hike. G20 leaders drew a veil over their economic policy disputes on Friday, agreeing to tackle tensions that have raised the spectre of currency wars and giving the nod to
countries that have seen huge capital inflows to impose controls. On the physical side of the market, Indian gold traders hunted for bargains after prices retreated from record highs, stocking up for weddings in the world's biggest bullion consumer. Interest in investment vehicles like exchange-traded funds was soft, however, with holdings of the world's largest gold-backed ETF, New York's SPDR Gold Trust, falling by just under 1 tonne on Thursday. Among other precious metals, spot silver was bid at $27.24 an ounce against $27.75, while platinum was at $1,710.74 an ounce against $1,752 and palladium was at $699.72 against $709.72. Reuters
National Commodity Exchange Ltd Trading Summary Date
11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010 11-Nov-2010
Commodity
Contract Date
CRUDE100 DE10 CRUDE100 JA11 CRUDE100 FE11 SILVER - SL500 DE10 SILVER - SL500 JA11 GOLD 01oz DE10 GOLD 01oz JA11 GOLD 01oz FE11 GOLD 100oz DE10 GOLD 100oz JA11 GOLD 100oz FE11 GOLD NO10 GOLD DE10 GOLD JA11 Kilo GOLD NO10 Kilo GOLD DE10 Tola Gold50 NO10 Tola Gold100 NO10 Mini Gold 1-Aug Mini Gold 2-Aug Mini Gold 3-Aug Mini Gold 4-Aug Mini Gold 5-Aug TT Gold 1-Sep TT Gold 2-Sep TT Gold 3-Sep IRRI6W 18NO10 Rice IRRI - 6 NO10 RBD Palm Olein NO10 KIBOR3M 10-Dec KIBOR3M 11-Mar
Price Quotation
Open
High
Low
Close
US$ 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 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
88.05 88.57 88.86 27.50 27.35 1408.20 1409.70 1410.40 1405.00 1408.80 1409.90 38531.00 38500.00 38564.00 38511.00 38520.00 44929.00 44918.00 39588.00 39629.00 39642.00 39656.00 39574.00 44757.00 45151.00 45577.00 2402.00 3280.00 4907.00 86.78 86.20
88.10 88.60 88.86 27.67 27.35 1410.00 1411.00 1412.00 1408.00 1408.80 1409.90 38538.00 38547.00 38564.00 38511.00 38520.00 44929.00 44918.00 39588.00 39629.00 39642.00 39656.00 39574.00 45514.00 45561.00 45577.00 2402.00 3280.00 4907.00 86.80 86.20
85.58 86.10 87.17 26.71 26.92 1379.00 1379.00 1380.00 1378.50 1388.40 1388.40 37854.00 37900.00 38070.00 38017.00 38026.00 44342.00 44342.00 39076.00 39117.00 39130.00 39144.00 39158.00 44654.00 44963.00 44979.00 3275.00 3278.00 4755.00 86.78 85.93
86.17 86.69 87.17 26.90 26.92 1387.20 1388.40 1389.50 1387.20 1388.40 1388.40 38044.00 38053.00 38070.00 38017.00 38026.00 44342.00 44342.00 39076.00 39117.00 39130.00 39144.00 39158.00 44917.00 44963.00 44979.00 3282.00 3278.00 4755.00 86.80 85.93
Traded Volume in lots 190 84 33 987 2,167 1,441 85 4 3 2 1 -
Previous Settlement Price 86.56 87.07 87.52 26.98 27.01 1395.00 1396.20 1397.30 1395.00 1396.20 1397.30 38193.00 38202.00 38219.00 38166.00 38175.00 44516.00 44516.00 39226.00 39266.00 39280.00 39293.00 39307.00 45092.00 45139.00 45154.00 3275.00 3280.00 4907.00 86.78 85.91
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 86.17 40 86.69 25 87.17 26.90 6 26.92 1387.20 367 1388.40 1,445 1389.50 790 1387.20 16 1388.40 1389.50 38044.00 40 38053.00 5 38070.00 38017.00 38026.00 44342.00 44342.00 39076.00 39117.00 39130.00 39144.00 39158.00 44917.00 1 44963.00 1 44979.00 3282.00 3278.00 4755.00 86.80 85.93 -
Red Bull driver Mark Webber of is seen during the first session of the Abu Dhabi F1 Grand Prix
10
Saturday, November 13, 2010
Smith’s ton makes the day for Proteas
Preity-XI challenges BCCI’s decision in court Monitoring Desk KARACHI: Kings XI Punjab, owned by a consortium led by actor Preity Zinta and industrialist Ness Wadia, has filed an arbitration petition in Bombay High Court challenging Cricket Board's decision to terminate their IPL franchise contract. The move of Kings XI comes close on the heels of Shilpa Shetty's Rajasthan Royals challenging a similar decision of the BCCI in the High Court. BCCI had recently terminated the franchisees of Kings XI Punjab and Rajasthan Royals on the ground that they had changed the shareholding pattern without informing the Board or IPL Governing Council. Calling the termination of their franchise contract as a "deliberate and calculated" move, Kings XI contended in the petition that BCCI had taken this decision because they wanted to make large profits by seeking new bids as the value of franchisees had gone up considerably.
PCB grounds 5 stars for WC LONDON: Pakistan have provisionally agreed not to select five players for next year's World Cup on the subcontinent as they seek to come clean on match-fixing charges against some of their stars. Former Test captain Salman Butt, fast bowlers Mohammad Asif and Mohammad Aamer, wicketkeeper Kamran Akmal and leg spinner Danish Kaneria have been blacklisted in response to last month's ultimatum by the ICC, who gave the Pakistan Cricket Board 30 days to take a firm stance against corruption. According to the Daily Star, Akmal has been under investigation for his role in Pakistan's controversial defeat by Australia in January's Sydney Test. On the other hand, Kaneria was recently cleared by police over allegations of spot fixing, but has not been offered a new contract by Essex.-APP
Yousuf ruled out of test series DUBAI: Veteran Pakistan Test batsman Muhammad Yousuf has been ruled of the two-Test match series against South Africa which commenced here Friday, Pakistan Manager Intikhab Alam told reporter in the afternoon. Pakistan suffered a blow before the start of the first cricket Test when Yousuf pulled out the match because of groin problem. Yousuf will not be able to take any further part in the series, he said. "Its big set-back for us bcause Yousuf was an experienced campaigner and could have been supported the Pakistan middle order batting," Intikhab said. He said Dr.Faisal was treating him has declared him unfit. "It will take about two weeks to heal the injury. We are not calling for any reinforcement," he said. 35-year old Muhammad Yousuf name was in the original sheet released to the media by the officials but later he was withdrawn from the team because of the groin trouble.-APP
DUBAI: Graeme Smith raises bat and helmet as he celebrates after scoring century 100 runs against Pakistan during the first Test match between Pakistan and South Africa.-Reuters
Asian Olympic Council to assist Pak
Four SNGPL players in Test squad
"We will work very closely with the International Olympic Committee, Olympic Solidarity and our Finance Committee to allocate some funds and how much we can give them," said Sheikh Ahmad. "They face crisis and they need our support," he remarked. The Executive Board approved the initiative, and this brought an emotional response from Lt. Gen. Syed Arif Hasan, OCA vice president for South Asia and President of the Pakistan Olympic Association.-APP
KARACHI: Misbah ul Haq (Skipper), Mohammad Hafeez, Umar Akmal and Adnan Akmal; all belonging to Sui Northern Gas Pipelines (SNGPL) Cricket Team are currently playing in Pakistan test squad, and this remains more of an honour for the organisation. Based on their current form and performance in the domestic season, they have been included in the national side. Adnan Akmal is given test cap in place of Zulqarnain Haider. The management and employees of Sui Northern Gas congratulates these players.-PR
GUANGZHOU: The Olympic Council of Asia (OCA) has decided to provide financial support to some of its National Olympic Committees, including Pakistan and DPR Korea. On the initiative of OCA President Sheikh Ahmad AlFahad Al-Sabah at the 56th OCA Executive Board meeting on Friday morning, it has been decided that the OCA will come to the aid of needy NOCs in financially-troubled countries and regions. He in this regard mentioned Pakistan and DPR Korea in particular, and also central Asia.
DUBAI: Graeme Smith's 22nd test century set South Africa on their way to a formidable 311 for three at the close of the first day of the first test against Pakistan at the Dubai International Cricket Stadium on Friday. Smith, who reached his halfcentury off 93 balls from the first ball after lunch, needed just another 58 deliveries to bring up his century as he looked to take the attack to the bowlers during the day's middle session. However, the left-hander who struck eight fours during his knock, departed to the next ball that he faced after reaching his ton when his attempted pull shot off left-arm swing bowler Wahab Riaz was caught by Taufeeq Umar on the deep midwicket fence.
Smith and Alviro Petersen had combined for a first-wicket stand of 153, with Petersen weighing in with 67 in an innings that included nine fours on a wicket which offered very little assistance to the pacemen or the spinners. But Petersen succumbed tamelyt fashion when he pulled a long-hop from left-arm spinner Abdur Rehman to Younis Khan at midwicket where the fielder took sharp, one-handed grab. Smith departed with the score on 190 but if the hosts thought that the dismissal of South Africa's captain would let them back into the match they were to be disappointed as Hashim Amla and Jacques Kallis put on 117 for the third wicket. The partnership was ended shortly before the close of play
UK’s PM pushes England WC bid SEOUL: British Prime Minister David Cameron plans to attend the FIFA vote next month when world soccer's governing body decides the fate of England's bid to host the 2018 World Cup. Cameron is intensifying his efforts to back the bid, talking it up during meetings with world leaders at the G20 summit he is attending in South Korea. England faces strong competition from Russia and joint bids from Spain/Portugal and Belgium/the Netherlands. "The prime minister wants to offer the strongest possible sup-
port for what he thinks is an excellent bid," his spokesman told reporters. FIFA's executive committee will select the hosts of both the 2018 and 2022 World Cups at a two-day meeting in Zurich, finishing on Dec 2. Cameron held a 30-minute meeting with Chung Mongjoon, FIFA vice-president and president of Korea's FA, at the British ambassador's residence on Thursday. Cameron joked that he was spending more time on the World Cup than on core G20 issues at the summit.
China ensures a festive start for Asian Games GUANGZHOU: The Asian Games officially opened with a glitzy gala ceremony on Friday, culminating years of planning for a massive event that is set to reinforce China's regional sporting dominance. The extravaganza heralds the most ambitious Asiad so far with more than 14,000 athletes and officials from 45 countries and territories angling for gold in 42 sports. The Games run until November 27, with hosts China heavily favoured to top the medal table, with South Korea and Japan battling for second place. "After six years of hard work, I am pleased to announce that the preparatory work of the 16th
Asian Games has
been completed," said Guangzhou vice mayor Xu Ruisheng. Security forces mounted a sweeping operation to isolate the fenced-off venue for Friday's opening ceremony, on an island in the Pearl River, with Chinese Premier Wen Jiabao due to attend. But as dusk fell over the city thousands of people streamed to
the spectacular setting near the giant Canton Tower ahead of the start. Just as Beijing did before the 2 0 0 8 Olympics, Guangzhou has poured billions of dollars into getting this sprawling southern metropolis ready. While the city does not have the glamour of Beijing and Shanghai, officials here are hoping the Games will help transform it into one of Asia's top destinations. In preparation, it has embarked on several huge infrastructure projects - a new rail station, a gleaming trade centre, subway lines, housing projects, highways and bridges. It has
when Amla, who scored 80 off 152 balls, edged a delivery from Riaz through to debutant wicketkeeper Adnan Akmal. Kallis was unbeaten on 53 at the close. Pakistan's best period with the ball came during the first half hour. In a near empty stadium, Petersen and Smith were tested by a fine new ball spell from swing bowler Umar Gul. Petersen survived a confident caught behind appeal off the bowling of Gul when he had scored just nine. Smith was also troubled by the same bowler, with the lefthander playing and missing on a number of occasions at the start of his innings. He eventually settled in to take full advantage of his decision to bat after winning the toss.-Reuters
also constructed or renovated 70 sporting facilities. Security is a major focus, with more than 100,000 police officers on duty to keep it safe, along with hundreds of thousands of security guards and volunteers. "As the Guangzhou Asian Games will have the most ever athletes, officials and reporters in the history of the Asian Games, the security work has been a great challenge," a statement from the Games security panel said. "The security panel has adopted effective and necessary measures to ensure a safe Games. We have done our best to provide a safe and favorable environment for athletes, coaches, officials and audiences." It all kicks off with the opening ceremony and in a change to standard procedure the show, beamed to a television of audience of billions, will be held on an island in the Pearl River rather than a stadium. Organisers promise the largest lighting show ever seen at a major sports event, based around a theme prominently featuring the local Lingnan culture. Film starlet Zhang Ziyi and world-renowned pianist Lang Lang will perform together in one of the highlights of the show. "All chapters of the performances will be linked together under the theme of water, which is a traditional element of Lingnan culture," said He Jiqing, the ceremony's deputy director.Agencies
The prime minister is arguing that England already has worldclass stadiums in place, reducing the costs involved at a time of sharp public spending cuts. England last hosted the World Cup in 1966, winning the tournament for the only time, and staging the event again would be a morale boost for English fans. Cameron told Russian President Dmitry Medvedev that he looked forward to a "good, clean fight" when the issue of their rival bids came up at a bilateral meeting on Thursday.-Reuters
Ireland in aid talks with EU, rescue likely: sources
NEW YORK: An Army carry team carries the transfer case containing the remains of Army Sgt Edward H Bolen of Chittenango, NY , upon arrival at Dover Air Force Base, Del.-Reuters
Euro zone growth slows in third quarter, outlook dims BRUSSELS: Euro zone economic growth slumped in the July-September period versus the previous quarter and is likely to slow further as the divergence between robust Germany and the weaker euro zone periphery grows. The European Union's statistics office, Eurostat, said gross domestic product in the 16 countries using the euro grew 0.4 per cent in the third quarter against 1.0 per cent in the second three months. GDP expanded 1.9 per cent year-on-year. Economists said the risk of another recession was small, but growth could slow to a quarterly rate of 0.2-0.3 per cent in the coming quarters and annual growth should ease to 1.1-1.4 per cent next year from an expected 1.7 per cent in 2010. "We expect euro zone growth to be muted over the coming months in the face of serious headwinds, most notably significant fiscal tightening increasingly kicking in, slower global growth and recurrent sovereign debt problems," said Howard Archer, economist at IHS Global Insight. The slowing growth was also
signalled by industrial production in September which defied market expectations of a small monthly rise and fell 0.9 per cent, cutting the annual increase to 5.2 per cent against expectations for 7.1 per cent. "The September weakness implies a weak carry over into the fourth quarter, suggesting a continuation of the growth slowdown," said Ken Wattret, chief eurozone market economist at BNP Paribas. The third quarter expansion was mainly thanks to continued robust growth in the euro zone's biggest economy, Germany, which grew 0.7 per cent on the quarter, for a 3.9 per cent yearon-year rise. The second biggest, France, saw GDP growth of 0.4 per cent quarter-on-quarter and 1.8 per cent year-on-year. "In the coming quarters...tensions will continue to mount because the German economy looks set to outperform the rest of the euro zone for years to come," said Christoph Weil, economist at Commerzbank. He said that while budget deficit cuts will be a significant burden on demand in the euro zone periphery -- Greece,
Portugal, Spain and Ireland -- in Germany, fiscal policy would only slightly dampen economic activity. Also, the German economy had substantially improved its competitiveness in the last few years, while other euro zone countries did not, he said. In Greece which needs economic growth to convince markets it will be able to repay its debts, the economy shrank 1.1 per cent on the quarter, for a 4.5 per cent annualised fall. "National divergence is, and will remain, a key theme when it comes to growth in the euro zone. We continue to expect Germany to outperform, while the fiscally distressed economies in the periphery will suffer most," Wattret said. Portugal, which like Greece has introduced tough austerity measures to regain market trust, surprised economists on the upside with 0.4 per cent quarterly growth. But the better Portuguese growth came from strong exports, while domestic demand is likely to have suffered from the budget austerity steps.Reuters
BRUSSELS: Ireland is in talks to receive emergency funding from the EU and it is likely the former "Celtic Tiger" will become the second euro zone country after Greece to require a rescue, sources said on Friday. Irish borrowing costs have shot to record highs this week on concerns about the country's ability to get a deficit swollen by bank bailouts under control, as well as worries private bond holders could be forced to shoulder part of the costs of any bailout by taking "haircuts" on their holdings. Government officials in Dublin have denied repeatedly in recent days that they plan to tap EU funds and a finance ministry spokesman said after the Reuters story was published that Ireland had made no application for aid. Euro zone sources told Reuters that aid discussions were under way, however, with one official saying it was "very likely" Ireland would get financial assistance from the EU facility set up after Greece was forced to seek aid in May. "Talks are ongoing and European Financial Stability Facility (EFSF) money will be used, there will be no haircuts or restructuring or anything of the kind," one euro zone source said. A second source confirmed the talks. The spreads between Irish 10-year bond yields and German benchmarks have rocketed to highs of nearly 700 basis points over the past two weeks on fears of "haircuts" but they narrowed to around 580 basis points after the Reuters story. The euro, which has also suffered from currency bloc jitters, came off its highs of the day to trade around $1.37. Pressure on Irish and other peripheral euro zone debt had eased slightly earlier in the day after France, Germany, Italy, Spain and Britain issued a statement at a Group of 20 summit in Seoul that confirmed holders of existing euro debt would not take a hit.Reuters
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bill in the Senate and the bill was handed over to the Standing Committee for Finance. Tahir Mushhadi said that it was a suicide certificate being given to people in form of RGST. He said that RGST was the other name of VAT. Senator Maulana Abdul Ghafoor Haidry said that RGST was not less than drone attack and it would not be supported.
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Babar Khattak, CCPO Karachi Fiaz Laghari, DIGs, TPOs, CID officials and police officials attended the funeral prayers. The police presented guard of honour after the funeral prayers. Malik told journalists that the government would finalise comprehensive security plan for the forth coming Muharram-ulHarram. Rehman Malik appealed to the nation to show unity to eliminate scourge of terrorism from the society and urged media to play vital role to defeat enemies of the country who were up to harm through subversive activities. He said that operation has been launched in the Karachi against the banned terrorist organization Lashkare-e-Jhangvi.-Agencies
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entourage attended the banquet hosted by the government of Guandong province and Guangzhou city leadership at the Baiyun International Convention Centre in honour of the guests to the 16th Asian games inaugural.-APP
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The appeal was launched a month ago, more than quadrupling the original $460 million sought in August as the full scope of the floods became clear. The disaster has claimed some 2,000 lives, exposing over 20 million others to homelessness, malnutrition, risks of epidemics and loss of livelihood as the waters steamrolled down from north to south, damaging or destroying nearly 1.9 million homes and devastating at least 160,000 square kilometres. To another question, Farhan Haq said the UN is assessing the health situation in flood-affected areas and is taking measures to prevent the outbreak of any disease.The UN has said the over 2.06 billion dollars appeal would cover 483 projects to be implemented by 15 UN organisations, the International Organisation of Migration and 156 non-governmental organisations.
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and allowed millers and traders unlimited imports of raw sugar to meet demand. Traders have since booked orders for about 70,000 tonnes of raw sugar, according to government officials. Upward revision of estimates means Pakistan, which consumes 4.2 million tonnes of sugar annually, may need less import next year to meet demand. But Kayani, who attended Thursday's meeting, said they had suggested to the government that any further decision on import should be delayed until the next assessment in February. Sugar had rallied in the international market in recent days due to logistical bottlenecks plaguing the harvest in top producer Brazil and the uncertainty over sugar exports by India, which is due to make a final decision by the end of November. Country bought or booked orders for about 1.2 million tonnes of sugar this year after production fell to nearly 3.1 million tonnes from the 2009/10 crop, when many farmers switched to other crops for more gains. The Trading Corporation of Pakistan (TCP), which issued the sugar tenders, said this week it had received about 750,000 tonnes of contracted sugar this year, and expected the remaining quantity by end-December.-Reuters
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automaker of huge potential of this industry in Pakistan. He directed the Chairman BOI to stay back and discuss with him the prospects of GAIG's operations in Pakistan. Guangzhou Automobile Group Co Ltd, is engaged in research and development, manufacture and sale of passenger vehicles, commercial vehicles, engines and autoparts.-APP
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He said that under the income tax amendment ordinance, a surcharge shall be payable by every taxpayer at the rate of 10 per cent of the income tax payable including the tax payable under Part V of chapter X as the case maybe, for the period commencing from the time Finance (Amendment) Act 2010, till June, 30, 2011 comes into force. Surcharge shall be paid, collected, deducted and deposited at the same time and in the same manner as the tax is paid, collected, and deposited under the various provisions of this ordinance, he added. He said that this surcharge would not be payable for the tax year-2010 and prior tax years. The rate of federal excise duty has been increased from 1 per cent to 2 per cent under the Federal Excise Act-2005.-Online
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(Retd) Waraich's bank account and not the FIA as reported in the newspapers. He said that FIA's name was wrongly mentioned in the newspapers. The spokesman while clarifying said that NAB in pursuit of its inquiry had blocked the amount of Rs1686.3 million which was later confirmed by the accountability court on July 29, 2010 in its decision to prevent the wastage of public exchequer.-Online
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SEOUL: G20 leaders closed ranks on Friday and agreed to a watered-down commitment to watch out for dangerous imbalances, yet offered investors little proof that the world was any safer from economic catastrophe. After an acrimonious start, the developed and emerging nations agreed at a summit in Seoul to set vague "indicative guidelines" for measuring imbalances between their multi-speed economies but, calling a timeout to let tempers cool, left the details to be discussed in the first half of next year. European leaders broke away for their own mini gathering in the middle of the summit to discuss a deepening credit crisis in Ireland, a stark reminder that the consequences of the worst financial crisis since the Great Depression still posed a serious threat to global stability. In a communique signed off at the end of the gathering, the group's fifth since the financial crisis exploded in 2008, there was a little something for everyone. Leaders vowed to move towards market-determined exchange rates, a reference to China's tightly managed yuan that the United States has long complained is undervalued. They pledged to shun competitive devaluations, a line addressing other countries' concern that the US Federal Reserve's easymoney policy was aimed at
weakening the dollar. In a nod to emerging markets struggling to contain huge capital inflows, the G20 gave the okay to impose "carefully designed" control measures. They also agreed that there was a critical, but narrow, window of opportunity to conclude the longelusive Doha round of trade liberalisation talks launched in 2001. But there was no mention of Ireland, and the bland promises to deal with imbalances did not appear substantive enough to bring about any real shift. The International Monetary Fund warned that gaps between cashrich exporters and debt-laden importers was widening to precrisis levels. "The work that we do here is not always going to seem dramatic," US President Barack Obama told a news conference after the summit. "It's not always going to be immediately world-changing. But step by step what we're doing is building stronger international mechanisms and institutions that will help stabilise the economy, ensure economic growth and reduce some tensions." Global financial markets were not moved by the outcome of the G20 summit as it offered few concrete measures to change economic policy. Investors were instead focused on the fiscal crisis in Ireland.
Brief oil demand burst will fade next year: IEA LONDON: Global oil demand growth will slow in 2011 after a brief, accelerated burst at the end of this year, the International Energy Agency (IEA) said in its monthly report on Friday. Rising consumption in developed industrial economies and rapid Chinese growth caused the IEA to lift its 2010 oil demand growth forecast by 190,000 barrels per day (bpd) to 2.34 million bpd from its previous report. But it trimmed slightly its 2011 forecast. Overall, global oil demand will still be higher next year at 88.51 million bpd compared wtih 87.32 million bpd this year. "Across the board in the OECD, we've seen stronger demand. The thing is we think that that these upwards revisions are transient," said David Fyfe, head of the IEA's oil industry and markets division, referring to countries within the Organisation for Economic Co-operation and Development. The report cited buying of heating oil stocks in Europe ahead of winter as a factor behind the demand growth hike and robust Chinese demand for distillates like diesel. But Chinese fuel switching
from oil back to coal for power generation with the new fiveyear plan will likely temper consumption beyond the first quarter of 2011, the report said. Next year, oil demand growth will slow to 1.19 million bpd -- a dip of 20,000 bpd from the previous report -- the IEA said. Earlier this week, the Organization of the Petroleum Exporting Countries (OPEC) revised up its 2011 demand growth forecast by 120,000 bpd in its monthly report. The better demand has led to a drawdown in OECD oil stocks which fell by a day to 59.9 days of forward cover in September from the previous month, according to the IEA. Crude oil held in floating storage fell by 10 million barrels to 32 million barrels by the end of October from the previous month as Iranian crude tankers were unloaded, the report said. "Things are a bit less floppy in the market than they were and you can see the price runup in those terms," said Fyfe. Oil prices rose to more than two-year peak of $88.63 a barrel the previous session but by 1236 GMT on Friday, they were down $1.57 at $86.24 a barrel from the last close.Reuters
After weeks of verbal jousting, the United States and China sought to bury the hatchet over rows about China's "undervalued" currency and the global risks created by the US printing money to reflate its struggling economy. "Exchange rates must reflect economic realities ... Emerging economies need to allow for currencies that are market driven," Obama said. "This is something that I raised with President Hu (Jintao) of China and we will closely watch the appreciation of China's currency." The G20's accord sought to recapture the unity that was forged in crisis two years ago, but deep divides meant the leaders could not venture much beyond what was already agreed by their finance ministers last month. Negotiators had laboured until the early hours of the morning to thrash out an agreement their leaders could all endorse, despite sharp disagreements that were on public display in the days before the meeting. "This hasn't been a love-fest," an official who participated in the negotiations said. In particular, the leaders were unable to reach a consensus on how to identify when global imbalances pose a threat to economic stability, merely committing themselves to a discussion of a range of indicators in the first half of 2011. -Reuters
UK Q3 construction outpt up by 4pc, Q2 revised down LONDON: British construction output rose 4.0 percent in the third quarter, but lower output in the second quarter could lead to a downward revision of overall economic growth in that period, official data showed. Friday's figures for July to September from the Office for National Statistics confirmed data published in a first reading of third-quarter GDP published last month. However, the ONS said construction output between April and June increased by only 6.8 percent, rather than the 9.6 percent previously estimated. "Given today's revised figures for construction output in Q2, ONS assesses that GDP growth in Q2 would be 0.2 percentage points lower," it said. That would take Q2 growth down to 1.0 percent, although the ONS said the extent of the revision would depend on whether there were any adjustments to other components of GDP. Construction contributed around a quarter of the surprisingly robust 0.8 percent growth recorded between July and September and around half of the 1.2 percent annual growth in the second quarter, although it makes up only around 6 percent of economic output.-Reuters
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The Dow Jones industrial average was down 85.83 points, or 0.76 per cent, at 11,197.27. The Standard & Poor's 500 Index was down 13.31 points, or 1.10 per cent, at 1,200.23. The Nasdaq Composite Index was down 29.44 points, or 1.15 per cent, at 2,526.08. Boeing Co. also pressured the Dow, shedding 2.4 per cent to $63.78 after Sanford C. Bernstein cut the stock to "market perform," citing more potential delays for its 787 Dreamliner. Stocks have stalled in recent sessions after a two-month rally that climaxed last week, when the Dow and Nasdaq hit levels not seen since the collapse of Lehman Brothers more than two years ago. Worries that Ireland may default on its debt as well as declines in commodity prices and an unexpectedly weak outlook from Cisco Systems Inc. helped cloud the market outlook, though some investors said the underlying trend is strong. "We're in a post-Fed and post-election environment, and stocks are waiting to see what the next mover is going to be," said Andy Fitzpatrick, director of investments at Hinsdale Associates in Hinsdale, Illinois. "In the meantime, markets are distracted by Europe and China." Reuters
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drop did not seem much as the index rose an aggregate 1,800 points last week." Brokers said the market was undergoing a "healthy" correction and expected the underlying tone to remain positive because of ample liquidity in the market. "There is no change in fundamental as reflected in the steady Hong Kong dollar," said Patrick Yiu, a director at CASH Asset Management. "Bullish tone still remains in ample liquidity." Reuters
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communication and we are expecting them to participate in bids for the Hajigak iron ore deposit," Shahrani said. Afghanistan put its Hajigak deposit, located west of the capital city Kabul, back up for tender in September after taking it off the market in 2009, with promises of security for investors despite a worsening insurgency. Afghanistan, seeking to exploit its untapped mineral wealth, has sought global investors to bid for a series of other mining projects as well. With the United States planning to begin a military withdrawal from July 2011, India and China along with Afghanistan's other neighbours such as Pakistan and Iran have stepped up efforts to increase influence in the unstable region. -Reuters
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victims of this incident". Qaim said that no Muslim can do such kind of a cowardly act and we will leave no stone unturned to arrest the perpatrators.-Online
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leaders feel like they are in a retreat in the autumn woods, a press handout says. In the anteroom of this retreat, the leaders will view a showcase of traditional items as well as stuff representing modern, high-tech Japan. Borrowing a slogan used for promoting Britain, it is being called "Cool Japan." Perhaps the atmosphere will be an antidote to the sometimes heated discussions at the G20 meeting in Seoul this week, where sharp divisions between China and the United States about their respective currencies were on display.-Reuters
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that Presidency and its adjacent buildings have also been kept on a high alert with additional police and Rangers contingents. Traffic has been virtually suspended and close vigilance is on, sources said. Sources further added that all kinds of heavy traffic have been strictly directed to be stopped outside the city limits in view to avoid any untoward incident. On the other hand, Chinese detectors have been installed on the ways in Turnol and Sihala so that goods could be screened and then allowed to enter the city while the entire city is on a red alert.-Online
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G20’s fiscal guards to carry harder yardsticks
SEOUL: US President Obama, South Korean President Lee and Canadian PM Harper greet winners of the G20 SME Finance Challenge Award in Seoul.-Reuters
President Zardari, Thai PM discuss bilateral ties
SEOUL: G20 leaders on Friday endorsed tighter financial regulations, including tougher bank capital and liquidity standards, to guard against the 'irresponsible risk-taking' which triggered the economic crisis. The leaders of advanced and emerging economies, in a declaration after their Seoul summit, backed measures to better regulate “systematically important financial institutions” -- those deemed too big to fail. "This new framework... will ensure a more resilient financial system by reining in the past excesses of the financial sector and better serving the needs of our economies," their statement said. G20 leaders have been digesting the lessons of the global financial crisis, including the need to limit the risk of major financial institutions failing and sending shock waves through the economy. The lesson was learnt the hard way after the collapse of Lehman Brothers in 2008, which triggered the worldwide economic downturn. "The global financial system came to a sudden halt in 2008 as a result of reckless and irresponsible risk-taking by banks and other financial institutions, combined with major
failures of regulation and supervision," the leaders said. "Today, we have delivered core elements of the new financial regulatory framework to transform the global financial system." Leaders endorsed new rules set by the Basel Committee on Banking Supervision and known as Basel III, which order banks to keep more capital for a rainy day. These are scheduled to be phased in from 2013 with banks asked to hold higher reserves by January 1, 2015. The key element known as core Tier 1 capital will be raised to 4.5 per cent from two per cent. In addition, by January 1, 2019, banks will be required to set aside an extra buffer of 2.5 per cent to "withstand future periods of stress", bringing the total reserves required to 7.0 per cent. The G20 leaders reaffirmed that "no firm should be too big or too complicated to fail and that taxpayers should not bear the costs of resolution". They supported a policy package proposed by the Financial Stability Board to reduce the moral hazard risks posed by systematically important financial institutions and
address the too-big-to-fail problem. Banking executives, including Standard Chartered CEO Peter Sands, have voiced concern that Basel III could deter enterprising companies. "We have to be careful... that we don't have unintended consequences in terms of the impacts on the real economy," Sands said in Seoul Thursday. The possibility of extra capital requirements on top of Basel III is even more unpopular with major banks. US Treasury Secretary Timothy Geithner shrugged off the criticism in an interview with TV news channel CNBC. "The most important thing... is to make sure these large institutions, large in our markets and they can be globally, run with less leverage and less risk and hold more capital against that risk," Geithner said. "That is overwhelmingly important and I wouldn't listen too carefully to those people running those institutions who told us for years and years and years (that) they knew better than anybody else how to manage their risk." -Agencies
NEW DELHI: Afghanistan will sign a memorandum of understanding (MoU) with India on mining in a month, the country's mining minister, Wahidullah Shahrani, told reporters on Friday during a visit to India. "We are quite optimistic on this. We would prefer to see more investment by Indian companies," he said after meeting with his Indian counterpart BK Handique.
The MoU will cover potential investment by India's private and government companies in Afghanistan to mine mineral resources and also training by India for Afghan professionals in the sector, Shahrani said. Afghanistan is estimated to be sitting on $3 trillion worth of untapped mineral deposits, but poor infrastructure and investor caution are inhibiting development of its mining indus-
try, Shahrani told Reuters in an interview last month. Shahrani said Afghanistan would like Indian firms to invest in the development of mineral deposits. "We had very good meetings with a number of them (companies) ... companies like Ispat, Essar, ArcelorMittal, Jindal Group," he said. "We have had some See # 11 Page 11
China ties to touch new acmes: Zardari Indo-Afghan mining MoU soon
GUANGZHOU: President Asif Ali Zardari Friday reaffirmed that ,undoubtedly, Pakistan's friendship with China is a long lasting one and both the governments will take their bilateral ties to new heights. President expressed these views while talking to the Chinese Prime Minister Wen Jiabao during an extensive meeting that lasted for quite a while in which host of issues like bilateral relations, regional security, international affairs and other fields of mutual interest were discussed in depth. According to Presidential Spokesman, President congratulated the Premier and people of China on the successful inauguration of the 16th Asian Games and thanked them for the warm welcome and hospitality accorded to the Pakistani delegation. He said that Pakistan was looking forward to jointly celebrating the 60th Anniversary of the establishment of Diplomatic Relations next year.
About the Pak-China relations the President said that Pakistan-China friendship is a factor of peace and stability for the region. Relations with China are of very special importance for the People's Party government because it was the Party's founder Chairman Zulfiqar Ali Bhutto who together with Chairman Mao and Premier Zhou En-lai laid the foundation of this friendship. The President reiterated Pakistan's full support to China on a host of issues including Tibet, Taiwan and Xinjiang and described the PakistanChina strategic cooperation as vital for defending common interests and to counter forces of destabilisation. "China's support for Pakistan's stability and social development in these challenging times is a source of strength for us", the President said. On the sidelines of the 16th Asian Games opening ceremony the President also held a bilateral meeting with Abhisit Vejjajiva, the Prime Minister of Thailand.
Senator says India not eligible to sit in UNSC
Rabbani blasts Obama for bias ISLAMABAD: Advisor to Prime Minister on interprovincial coordination, Senator Raza Rabani Friday vehemently criticised American President Barack Obama for supporting Indian bid that seeks a permanent seat in UN Security Council (UNSC). Talking on a point of order here in the Senate, Senator Raza Rabbani blasted Barack Obama for pampering India and ignoring Pakistan’s so many problem. He said that India is violating human rights in IHK and is not eligible for the membership of UN Security Council. Rabbani said that it is a conspiracy to give India an edge over Pakistan and China. The Senator advised the government to settle all issues with the help of international community to keep India away from of UNSC.
He expresses concerns over Thursday's bomb blast in highly sensitive area of Karachi. Rabbani said that if all possible steps would not be taken to stop such attacks then no city would be safe in future. He asked how a truck loaded with 1000kg explosives passed by four police check posts and reached the CID building unchecked. He said that elimination of terrorism is not possible without implementing the recommendations of National Security Committee. Rabbani said that Parliament had approved unanimous resolutions regarding terrorism and then Parliamentary committees presented the suggestions to the government in connection with development projects in tribal areas but those proposals have not yet been executed.-Online
Qaim unsees cops’ lapse in Khi attack KARACHI: Urging people to unite against terrorism Chief Minister Sindh Syed Qaim Ali Shah Friday said that the attack on Crime Investigation Department (CID) building was not due to security lapse adding Sindh government condemns it in strongest words. Talking to the media persons here outside the collapsed CID building, he said that the attack was thoroughly planned, the terrorists had come to release their comrades, however, they failed to liberate them. In order
to cover their failure they perpetrated this horrible act, he added. He said there was no security lapse and had the policemen present on the scene not countered the terrorists the destruction would have been far greater. He said the security arrangements were satisfactory as five minutes earlier the terrorists opened fire, while our security men retaliated bravely. The CM said, "The government would compensate the heirs of See # 12 Page 11
Talking to the Thai Prime Minister the President called early implementation on the 'Exchange of Offenders' Agreement due to humanitarian considerations and offered to host next meeting between the officials of the two countries on combating terrorism and certain other crimes. The President said that in order to achieve the true potential of trade between the two countries there was a need for early conclusion of Free Trade Agreement. The bilateral trade between Pakistan and Thailand stood at $800 million last year. The President thanked Thai government for support to Pakistan's efforts to attain the Full Dialogue Partnership (FDP) with Asean and expressed the hope that efforts will continue in the future as well. The President also apprised the Thai Prime Minister of Pakistan's role as a frontline state against terrorism, of how Pakistan was a victim and how much it was determined to root out militancy.-Online
Apec leaders to relish "cool Japan" YOKOHAMA: After all that heated debate in Seoul over currencies and global imbalances, Asia-Pacific leaders will be treated to "Cool Japan" at their summit this weekend in Yokohama. The 21 leaders of the Asia-Pacific Economic Cooperation (APEC) forum -- nine of whom were in Seoul for the Group of 20 summit -- will gather in Japan's port city of Yokohama, just south of Tokyo to talk about a new growth strategy and a giant free trade zone. They will sit in plush arm chairs around a "digital pond" -- a video screen shaped like a fish pond -- in which virtual koi swim, and virtual leaves fall around a virtual stand of bamboo. It is meant to make the See # 13 page 11
Zardari House under thick layers of security ISLAMABAD: Following the gruesome bomb blast at the CID Centre Karachi on Thursday night, security has been further tightened outside 'Zardari House' located in the heart of Capital in Sector F-8/3 after Taliban aired attack threats. Well-placed sources told Online that the entire street has been declared as Red Zone and no one will be allowed to enter the premises without methodical checking. It has been further told that following Taliban threats to attack Zardari House, all kinds of political activities have been halted for a while. Beside See # 14 Page 11
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