International Karachi, Saturday, January 8, 2011, Safar-ul-Muzaffar 3, Price Rs12 Pages 12
Malik very wary of Hindu extremism
Tunisian president quits after violent protests Delhi chews hard over IHK troop-cut
See on Page 12
Pipeline blown up in Dera Bugti
See on Page 12
See on Page 12 Economic Indicators Forex Reserves (8-Jan-11) Inflation CPI% (Jul 10-Dec 10) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Dec 10) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
Pakistan wants to stand on its feet, US told
$17.09bn 14.61% $10.98bn $19.13bn $(8.15)bn $(504)mn $5.29bn $1.05bn Rs 495bn $58.41bn Rs 5348.6bn $287.9mn -4.69% 4.10% $1,051 174.87mn
Zardari says no to aid crutches Obama stresses US support for Pakistan
Portfolio Investment SCRA(U.S $ in million)
192.11 -3.28 4.94 3057
Yearly(Jul, 2010 up to 13-Jan-2011) Monthly(Dec, 2010 up to-13-Jan-2011) Daily (13-Jan-2011) Total Portfolio Invest (7 Jan-2010)
NCCPL (U.S $ in million)
FIPI (14-Jan-2011) Local Companies (14-Jan-2011) Banks / DFI (14-Jan-2011) Mutual Funds (14-Jan-2011) NBFC (14-Jan-2011) Local Investors (14-Jan-2011) Other Organization (14-Jan-2011)
6.69 10.24 -5.45 1.48 -4.44 -7.00 -1.52
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,533.54 10,499.04 24,283.23 18,860.44 2,737.65 2,791.34 5,991.98 11,734.32
Change 74.10 90.72 44.25 322.38 2.19 36.37 31.90 2.42
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)
$.Price PKR/Shares 2.60 111.20 26.00 222.40 2.00 42.77 1.70 36.35 11.69 40.00
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
12-Jan-2011 12-Jan-2011 12-Jan-2011 29-Nov-2010 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011
13.37% 13.50% 13.73% 14.00% 13.32% 13.59% 13.75% 14.09% 14.19% 14.23% 14.25% 14.27% 14.60% 14.79% 14.96%
Commodities *Crude Oil (brent)$/bbl 98.81 *Crude Oil (WTI)$/bbl 91.04 *Cotton $/lb 142.40 *Gold $/ozs 1,365.80 *Silver $/ozs 28.65 Malaysian Palm $ 1,205 GOLD (NCEL) PKR 38,103 KHI Cotton 40Kg PKR 10,610
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 86.00 Canadian $ 86.00 Danish Krone 14.10 Euro 112.00 Hong Kong $ 10.90 Japanese Yen 1.042 Saudi Riyal 22.90 Singapore $ 65.70 Swedish Korona 12.60 Swiss Franc 87.00 U.A.E Dirham 23.25 UK Pound 132.20 US $ 85.90
Sell (Rs)
86.20 86.40 14.70 112.60 11.00 1.017 23.10 65.80 12.70 87.60 23.40 133.90 86.20
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
85.25 86.46 15.31 114.08 11.00 1.030 22.81 66.44 12.75 88.67 23.29 135.42 85.54
85.45 86.66 15.35 114.35 11.03 1.032 22.87 66.59 12.78 88.88 23.35 135.73 85.73
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
16°C 25°C 20°C 13°C 04°C 17°C
MIN
03°C 18°C 08°C 05°C -05°C 05°C
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WASHINGTON: US President Barack Obama talking with President Asif Ali Zardari in the Oval Office of the White House. -Reuters
PM chairs Mid Term Economic Review meeting
Consensus solutions for economy invited ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has said that the economic challenges of Pakistan would be shared with the political leadership in Parliament to seek proposals for resolving the same. The Prime Minister was chairing the Mid Term Economic Review meeting held here at the Prime Minister's Secretariat Friday. The economic review meetings are held regularly every month. The objective behind the reconciliatory process and consultation with political leadership is to develop con-
sensus and take decisions in the larger national interest. The Prime Minister said that since the budget was passed unanimously by the Parliament, the financial challenges of the country also need to be shared in order to find solutions through collective wisdom. The people of Pakistan, he directed, must be informed about the economic challenges and measures to be taken. The Prime Minister directed the 5-member committee formed to dialogue with all the Parliamentary parties to immediately contact the
RPP bound to repay Rs970mn today
SC overpowers Techno Power ISLAMABAD: The Supreme Court Friday directed Techno Power Sahuwal, a rental power producing plant, to refund on Saturday (today) an amount of Rs970 million along with markup taken as advance payment after it failed to generate the required power capacity despite a lapse of two years. It directed the counsel for Company to refund the amount till Saturday otherwise the bench would issue confiscation of the passport of its owner and send him to jail. A three-Judge bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil ur Rehman Ramday took up pending issue of failure of Rental Power Plants (RPPs) to generate power despite payment for
mobilisation. During proceedings, the counsel for Techno Power, apprised that the owner was in Dubai and due to local holiday there, the required amount could not be refunded. He requested for some more time and the bench told him to submit a compliance report on Monday. The bench expressing its dissatisfaction warned of legal consequences in case of failure. On Thursday, the bench was apprised that an amount of 1.26 billion had been recovered from the M/s Young Gen, a power company, which also failed to set up the required machinery. The bench in its previous order had observed that in case of failure their cases would be See # 4 Page 11
Provinces’ say on petro rights asked ISLAMABAD: Minister for Petroleum and Natural Resources Syed Naveed Qamar has called upon the provinces to share their viewpoints to resolve policy issues in the light of the 18th Amendment. The minister was chairing a meeting held to discuss the modus operandi in relation to oil & gas exploration and production in the light of 18th Constitutional Amendment. The minister said the provinces should furnish their views to evolve ways and means to arrive at a consensus mechanism to execute policy issues with regard to the 18th
Amendment. It was agreed that the existing system of awarding petroleum rights maybe put in action after working out the modalities in consultation with the provincial governments. These modalities will be looked into further by a committee headed by secretary MPNR and the concerned secretaries from the relevant departments of the provinces being its members. Qamar highlighted the salient features and the spirit behind incorporating the new article 172(3) in the Constitution and the respective roles of See # 6 Page 11
leadership of the parties to ascertain their availability for consultation on national economic challenges. The Minister for Finance briefed the participants on the state of national economy and the economic challenges faced by the country in the wake of devastating floods, ongoing war against terrorism, national security needs, and international recession. The Secretary Finance in his presentation apprised the participants of the meeting about the budgetary position and probabilities at the close of financial year. He also See # 3 Page 11
NICL land to be valued through ads
WASHINGTON: President Asif Ali Zardari Friday said Pakistan wants to stand on its feet economically and throw the crutches of aid away for good. Zardari said this while discussing bilateral relations with US President Barack Obama on the sidelines of a memorial service for Richard Holbrooke, the former special US envoy for Pakistan and Afghanistan. “Both presidents acknowledged the services of the late Holbrooke and his passion with which he brought US and Pakistan closer, agreeing that there was need to strengthen this strategic partnership with the same kind of fervour”, Pakistan's ambassador to United States Husain Haqqani said in a post-meeting briefing. However, the ambassador said, President Obama made it clear that the meeting could not be a substitute for formal talks between the two partners which are set for later this year. Secretary of State Hillary Clinton, National Security Advisor Tom Donilon, Deputy
National Security Advisor Douglas Lute, and White House Counter Terrorism Advisor John Brennan assisted the US president while Pakistan's ambassador to the United States accompanied President Zardari in the meeting. According to Haqqani President Zardari told his US counterpart that Pakistan does not want to be a permanent recipient of aid, it wants to stand on its feet and for that it needs economic reforms and the government is cognisant of that, working on that, and Pakistan and US are partners in this respect. Haqqani quoted President Obama and Secretary Clinton as saying that over the next few days they will try to find ways to strengthen Pakistan's economic reforms process while taking into consideration the social/ political factors as well as the overwhelming reality of the floods, which disrupted the economic growth last year. Emphasising the friendly
SC gives sack to NBP head ISLAMABAD: The Supreme Court, declaring the appointment of Ali Raza as President of National Bank of Pakistan (NBP) null and void, ordered him to relinquish his post with immediate effect. The ruling was given by a three-member Supreme Court bench headed by Chief Justice Iftikhar Muhammad Chaudhry on Friday. In his application, a petitioner Muhammad Idrees argued that Ali Raza's term as NBP chief was extended for the fourth consecutive time in violation of banking laws. He said that one can get an extension only once under the prevailing laws.
ISLAMABAD: The Senate Standing Committee on Commerce here Friday termed the valuation process of land purchased by National Insurance Company Limited (NICL) in Dubai, Lahore and Karachi as bogus and recommended assessment of the value of land through advertisement in the national news papers. The Committee met here to discuss the progress in the investigation of NICL land scam and recovery made by Federal Investigation Agency Staff Reporter (FIA) with Senator Ilyas Ahmad Bilour in the chair. Wasim Ahmad Director KARACHI: Net foreign investment in Pakistan fell 15.4 See # 5 Page 11 per cent to $1.05 billion in the first six months of the fiscal year 2010-11, compared with $1.24 billion in the same period last year, the central bank said Friday. Out of the total foreign investment, foreign direct investment fell 14.5 per cent in July and December to $828.5 million, ISLAMABAD: Prime Minister from $968.9 million in the same Syed Yousuf Raza Gilani has period last year, the State Bank condemned the killings in of Pakistan (SBP) said. Karachi calling upon the people Foreign portfolio investment to exhibit tolerance. fell 18.6 per cent to $221.5 milThe Prime Minister talked to lion in the first half ending Dec the MQM leader Altaf Hussain and the President of ANP Asfandyar Wali and asked them to appeal to their party workers to show tolerance. The PM also talked to the Governor, Chief Minister Sindh and Interior Minister Rehman ISLAMABAD: Pakistan's size, Malik to get together and chalk geographical importance and out a course of action to ensure abundant natural resources law and order in Karachi. Prime make it well-positioned to play Minister directed Malik to reach greater role in the global marKarachi immediately and coor- ket, Mission Director, USAID, dinate with the Sindh govt as Dr Andrew Sisson said here well as the MQM leadership. - Friday. APP He was speaking at the
The petition said that according to the rules Raza's term could be extended only twice but former president of Pakistan Pervez Musharaf extended the term for the third time by an ordinance. It called the act unconstitutional. The petition stated that the See # 1 Page 11
Net Jul-Dec foreign inflows fall 15.4pc
PM telephones MQM, ANP chiefs over Khi killings
31, compared with $272.1 million in the same period last year. A shaky security situation, with a Taliban insurgency in the country's northwest, coupled with chronic power shortages, has put off investors, analysts say. An International Monetary Fund (IMF) emergency loan package agreed in November 2008 helped Pakistan avert a balance of payments crisis and shore up reserves. It received the fifth tranche of $1.13 billion of the IMF loan of $11 billion in May and Pakistan and IMF authorities are scheduled to meet before June 30 to discuss the release of the sixth tranche.
Pakistan primed for global trade: USAID Public-Private Sector Consultative Roundtable Meeting on Trade, organised by US Agency for International Development's Pakistan Trade Project with support of Ministry of Commerce. Sisson said that the See # 2 Page 11
ambience of the meeting and countering the usual media reporting of Pakistan-US relations, Ambassador Haqqani said, “Nobody scolded anybody, nobody raised the question that Pakistan is not doing enough, nobody said anything negative about the lack of support of either country for the other.” “We continue to work positively in all areas of cooperation, political, economic, diplomatic, strategic, intelligence, and military," Haqqani said, underscoring the cooperative nature of ties. Haqqani told journalists that Obama expressed his condolences over the assassination of Governor Punjab Salman Taseer appreciating Islamabad's resolve to build a moderate democratic Pakistan which is the strongest guarantee against terrorist threat in our region. President Obama unequivocally stressed US support for democracy in Pakistan, the envoy added.-APP
Bloodshed in Karachi dying hard KARACHI: The incidents of target killing are in full swing in the metropolis with more than 3 people killed and 2 injured on Friday raising the death toll of last 24 hours to 19. The industrial city known as mini Pakistan has fallen prey of target killing once again. Such killings are creating panic in Banaras, Sohrab Goth, Korangi, Gulistan Johar, Pehalwan Goth, and SITE areas. Moreover, unknown extremists targeted provincial Deputy General Secretary (ANP) Bashir Jan and his guards here on the night between Thursday and Friday, Bashir Jan and his guard reported injured till filing of the report. At least ten people including a minor girl were gunned down in different areas of Orangi Town. According to police sources the deceased have been identified as Dua Fatima, Faraz Uddin, Rashid Anwar, Javed, Naveed, and Jumma Khan. The grandson of leader of MQM Shoaib Bukhari was also shot dead. Meanwhile, in separate incidents Muhammad Shafiq and others were killed by the unknown gunmen.-APP
KESC acquires Nepra OK to up tariff ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) Friday allowed Karachi Electric Supply Company (KESC) to raise power tariff by 2 per cent. This increase is an upshot of monthly fuel adjustment process. According to details, after the hearing of the KESC application, Nepra allowed the power utility a 2 per cent increase. The lifeline customers will not pay the increase. The raise will be included in the customers' bills from February.-Online
2
Saturday, January 15, 2011
Aim to make Pakisan polio-free
PM to lead anti polio task force ISLAMABAD: Prime Minister Yousaf Raza Gilani announcing the constitution of the National Task Force to oversee the progress on the polio eradication emphasized that failure is not an option anymore and The National Emergency Plan on Polio Eradication 2011 was an essential need to push for a polio free Pakistan. The task force would be headed by the Prime Minister with all Chief Ministers and Governor KP as members to oversee the progress on the polio eradication. Addressing a meeting on The National Emergency Plan on Polio Eradication 2011 at the PM secretariat on Friday, the PM said despite our best efforts over
the years, we continue to see transmission of polio virus in the country. This year we witness a dramatic rise in the number of polio cases across the country, he said. Given this background, there was thus an imperative need to rethink our collective response and modify our anti-polio campaign. We needed to determine as to what difference can be made to reach out to the unreached children with polio vaccine. "I must mention here that failure is not an option anymore. We have come this far after years of labour with the support of our international partners. We must now finish the job with a more focused approach and renewed
commitment. We must work tirelessly to remove the remaining bottlenecks, which threaten to reverse gains achieved over the years", PM said. As the presentation highlighted, we are fully alive to the situation in areas where security is volatile and are working together with our valiant armed forces to make anti-polio campaign a success. "The message of this campaign is the message of hope and life. It is a message of health and wellbeing against disability and illness. In this regard, I must mention that we are encouraged by the example of Swat where extremists blew up girls' schools and propagated against health campaigns like polio.-Online
LAHORE: Chief Minister Punjab Mian Shahbaz Sharif addressing the inauguration ceremony of 2nd PTCL Data Center at Lahore Federal Colony. President PTCL Walid Irshad, CTO Muhammad Naseerullah, EVF Zaman Gulzar, CFO Rehmatullah, SPV Commercial Naveed Saeed and SEVP Tariq Salman are seen sitting on the stage.-Online
TV PROGRAMMES FRIDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 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 23:00 News 23:03 Awam Ki Awaz
Turkey jacked up custom duty on Pak exports: Baig KARACHI: Turkish government has increased custom duty by 28 per cent on the import of fabric from Pakistan and 30% on import of fabric from China. According to Federal Advisor on Textile Dr. Mirza Ikhtiar Baig, the decision has been made on the pressure from the local fabric manufacturers in Turkey. Dr Baig said that he advised Pakistani Consul General in Istanbul, Dr. Yousaf Junaid to take up
PACRA sustains ALAC’s IFS rating TFD Report
FRIDAY Time 8:00 8:30 10:00 11:00 11:30 12:05 13:05 14:00 15:00 16:00 16:05 16:30 17:05 18:00 18:30 19:05 19:30 20:05 20:30 21:00 21:05 22:00 22:05 23:00 0:00
Programmes Pakista this week (Rpt) Music Scene Smithsonian Documentry Uff Tv(Rpt) Dilkash Pakistan (Rpt) Kamyab (Rpt) AM Agenda 360 (Rpt) News Mang Raha Hay Pakistan (Rpt) News Pakistan This Week (Rpt) Dilkash Pakistan (Rpt) Kamyab (Rpt) News Uff Tv(Rpt) Sara Jahan Red Carpet Filmi Samaa Munafa Khor Hoshiyar News Badalta pakistan News Agenda 360 Amnay Samany News
the issue with the concerned authorities in Turkey and arrange a meeting. He informed that it will also affect the exports of millions of meter orders which are already under production with the Pakistani mills for shipment to Turkey. Dr Baig pointed out that Pakistan is the major exporter of grey and denim fabric to Turkey and the increase in custom duty would seriously affect country's exports.-APP
KARACHI: The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) rating of Adamjee Life Assurance Company Limited (ALAC) at "A" (Single A). The rating denotes ALAC's strong capacity to meet policyholder and contract obligations. At the same time, risk
factors are moderate, and the impact of any adverse business and economic factors is expected to be limited. The rating reflects Adamjee Life's association with financially sound business groups - Nishat and Hollard. The rating draws comfort from the sponsors' long established presence in the local and international markets.
Top level changes in PIA Staff Reporter KARACHI: Transfers and postings have been made in PIA at senior management positions. A spokesman of the organization announced here on Friday that PIA's Director Corporate Planning, Shahnawaz Rehman, has also been given the charge of Director Human Resource Administration and Coordination upon retirement of Haneef Pathan who is proceeding on LPR (Leave Preparatory to Retirement). Shanawaz Rehman has been associated with PIA for over 30 years and has held various key positions in the airline including Director Financial Monitoring and Appraisal. PIA's Senior General Manager Training and Development, Khalid Iftikhar, has been promoted and posted as Director Procurement and Logistics. He also has more than 30 years of airline experience while the airline's Country Manager Saudi Arabia, Khurram Mushtaq, has been promoted and posted as General Manager Passenger Sales. He will take charge of the new assignment upon retirement of Rashid Farookee by the end of this month. Special Assistant to Managing Director, M Younus Khan, has alsobeen transferred as Principal PIA Training Centre.
Minhaj Barna passes away Special Correspondent ISLAMABAD: A legend of the Pakistani print media, Minhaj Barna passed away after a cardiac arrest in Islamabad early Friday morning. He was 88-years-old. Barna was a founding member of the All Pakistan Newspaper E m p l o y e e s Confederation (APNEC) and was an active member of Pakistan Federal Union for Journalists (PFUJ) and Karachi Union for Journalists (KUJ). A book of his poetry Marsia: Chouthay Satoon Ka or A Lament for the Fourth Pillar has also been published. Senior journalist and former colleague Hafizur Rehman referred to him as an "inspiration to the entire journalistic community". According to Rehman, Barna began his pursuit for freedom of speech when he was a college student at the Jamia Millia in New Dehli, India. He went on to join the All India Youth Federation and support the local Communist Movement. His journalistic career began in Mumbai where he started work as a reporter in the Urdu newspaper Dehli Inqilaab. After partition Barna transitioned to the English press and became a leading member of jouranalists' trade unions. He is best known for his role in a ten day newspaper strike conducted in 1970 in which no newspaper was published to protest low wages. He was also instrumental to the anticensorship movement in 1977 and 1978 when newspapers like the Daily Musawat were shut down by the government of the time. He led a hunger strike and courted arrest multiple times.
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to Governor KP, Chief Minister KP, Chief Minister Sindh Chief Minister Gilgit-Baltistan, PM AJK and Senior Advisor to CM Punjab Zulfiqar Khosa.-Online
Gas, power scarcity hindering GDP growth: ICCI Staff Correspondent ISLAMABAD: Scarcity of gas is causing problems both for public and industries and the authorities concerned should take measures to ensure uninterrupted supply of gas for the economic growth of the country. This was stated by Mahfooz Elahi, President, Islamabad Chamber of Commerce and Industry while presiding over a meeting here on Friday. He was of the view that the gas as well as the electricity shortage is causing closure of a number of industries and small and medium enterprises.
He claimed that this problem has resulted in the loss of more than 400,000 jobs and is inflicting on the industrial sector alone an annual loss of over Rs 220 bln. The ICCI President was of the view that trouble lies ahead for domestic, industrial and commercial sectors unless the shortage of gas is addressed. With the constant load shedding of gas and electricity impeding industrial growth, sky-rocketing prices of electricity and consumer items, both the common men and traders are striving hard to survive, he added.
He said that the output of the industrial sector declined sharply in 2010 owing to electricity and gas shortages. Mahfooz Elahi observed that thousands of daily wage earners in the major industrial cities are also facing problems due to the current energy shortage. The ICCI President said Pakistan has entered into gas deals with Iran and Turkmenistan but these projects should be materialized, Iran-Pakistan gas pipeline project should be completed at the earliest to overcome energy crisis which the Pakistan was currently facing, he remarked.
Hiring in PARC by ex-chief to be probed ISLAMABAD: National Assembly Standing Committee on Food and Agriculture has been told that investigation teams have been formed to probe recruitments by former Chairman Pakistan Agriculture Research Council (PARC) Dr Zafar Altaf in the council. The meeting of Standing Committee on Food and Agriculture presided by Chairman Committee Javed Iqbal Warraich was held here at Parliament House on Friday. Under 18th amendment federation would have the power of making legislation over pesticides. During the meeting cotton policy and cotton production have been discussed. Additional Secretary
Food and Agriculture Shafqat told the committee that special investigation committee has been formed to probe the recruitments while the committee would present report with in few days. Shafqat said that advertisement would be published at international level for appointment of new Chairman PARC. While briefing the committee Vice President Pakistan Central Cotton Committee told that cotton production is satisfactory this year. He said that the cotton is affecting due to pest and cotton diseases. He said that cotton is being sowed in Balochistan and Dera Ismail Khan. The PARC officials told the committee that federa-
tion made legislation regarding agriculture drugs. On this juncture the committee recommended constitution of joint Research and Investigation Team comprising representatives of Ministry of Food and Agriculture, Pakistan central cotton Committee, PARC and other organizations of province to submit work plan with in one month to run the cotton programme in the country. The committee recommended that in case of organic cotton the area of Balochistan and other areas are very suitable and Ministry of Food and Agriculture should explore the research and design work without allowing pesticides or pesticides companies in these areas.-Online
PEW concerned over huge govt borrowing TFD Report ISLAMABAD: The Pakistan Economy Watch (PEW) Thursday expressed concern on the PPP-led federal government's excessive budgetary borrowing, as on the average it taking Rs68 billion (or US$795 million) a month from the banking system to fill its incomeexpenditure gap while ignoring its 'negative fallouts' in shape of rising inflation that hitting hard the poor the most. Only from the State
Bank of Pakistan (SBP), the federal government is borrowing about 28 billion a month. The President of PEW, Dr. Murtaza Mughal said, "The excessive borrowing from the central bank is diluting the effects of the SBP tight monetary policy and causing 'inflation' to go up further". He added it also signaling towards the slower pace of the economy. Currently, the state bank of Pakistan discount rate is highest in the region at 14 per cent. The bank
tight its monetary policy to rein in the skyrocketing inflation, but on the other hand the government borrowing from SBP is 'nullifying' possible positive effects of the bank policy. Despite tight monetary policy, inflation is in double digit and above expectation. During 2010 CPI inflation rose to 15.68 per cent against 10.52 per cent in corresponding month of the last year and first half (July-December 201011), average inflation stood at 14.65 per cent.
KARACHI: Media persons holding a protest demonstration against target killing of TV reporter Wali Khan Babar.-APP
PIA's inaugural flight to Zahidan today QUETTA: Pakistan Internation Airlines' first flight for Iranian city Zahidan will take off from here today.The inaugural ceremony will be held at CIP lounge which will be attended by the Iranian Ambassador to Pakistan and relevant senior Pakistani officials. Talking to APP here on Friday, District Manager PIA, Hakim Shah Kakar said that PIA would operate twice weekly flights every Wednesday and Saturday to Zahidan from Karachi and Quetta. He noted that the flights fulfil the long-standing demand of people from both the countries. He maintained the PIA was striving hard to increase revenue, adding, the airline had improved its market share by enhancing frequencies on routes like Dubai, Dhaka and Kualalumpur. "It is a positive beginning towards the destination of the PIA, he said and added it would be conducive to the traders and business community to save their time besides boosting their business by using the facility being provided by the PIA.-APP
Samsung intros mobile printing app KARACHI: Samsung Electronics Co. Ltd., a global leader in consumer electronics, information technology, digital media and digital convergence technologies, today introduced the Samsung MobilPrint app at the Consumer Electronics Show 2011 in Las Vegas. The app runs on Android or iOS smart phones and tablets. This will allow smart phone and tablet users to connect directly to Samsung wireless printers through the WiFi or network linked printers and print their photos, PDF and web pages directly from their devices. It also allows scans from the printers to be sent directly to the user's smart phone or tablet allowing users the flexibility to adjust the quality of the scanned image, change the file type, or choose between color or black-andwhite scans. "Samsung has quickly become a recognized brand in the global printing industry through the launch of its affordable, user-friendly products for the office and home. This solution delivers the next generation in seamless convenience, building on Samsung's heritage in the consumer electronics business and experience with connectivity. The mobile phone is a consumer's constant companion; we've now expanded its everyday functionality into a whole new realm," said Hee Chang Yee, Managing Director Samsung Electronics Pakistan.-PR
3 Saturday, January 15, 2011
Euro heads for best week in 1-1/2 years against dollar
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rebound further in the near term and test key resistance in the $1.35 area, though gains above that could be difficult given nervousness over the large amount of debt supply from weaker eurozone economies this year. "The extreme of bearishness is being unwound, but I don't think we are on the verge of a new round of euro bullishness," said David Watt, senior currency strategist at RBC Capital Markets in Toronto. "We still don't have long-term solutions and it really doesn't look like EU policymakers are going to come up with any long-term solutions," he added. "Interest rates in general in the EU periphery are
too high and growth is still relatively weak." In early New York trading, the euro was
up 0.1 per cent at $1.3359. It earlier climbed above its 100-day moving average at $1.3410, but failed to hold gains. Technical analysts also highlighted a bearish signal after the 55-day euro/dollar moving average crossed below the 100day moving average on Thursday. Karen Anne Jones, technical analyst at Commerzbank, expects the $1.35 level for euro/dollar to hold. "Our favoured
Asian currencies
Indonesian rupiah near 6-mth lows; outlook wary Malaysian ringgit runs into central bank intervention HONG KONG: The Indonesian rupiah weakened within sight of six-month lows on Friday, dragged by falling offshore non-deliverable forwards and outflows from the local stock and bond markets. A sharp sell-off in stocks last week and rising yields in the bond market have made investors cautious about the near-term outlook of the currency after record inflows and double-digit returns in the last two years. Local currency bonds, measured in US dollars, returned a
mouth-watering 82 per cent in the last two years and the stock market climbed by 46 per cent in 2010 alone, prompting investors to pump in record sums and making it one of the top foreignowned markets in the world. But with inflation on the boil and the central bank yet to begin raising rates from financial crisis-level lows, analysts are growing wary of the market outlook in the near term. On Friday, the rupiah was changing hands at 9,060 per dollar, just shy of a July low of 9,087 hit earlier this month.
Trades in the rupiah were restricted between the 9060 to 9070 range with talk of central bank offers parked above the higher end. One-month dollar/rupiah NDFs were well bid, last around the 9130 per dollar handle. The ringgit ran into stiff resistance with central bank bids pushing it above implied NDF rates. Despite heavy selling by banks, the ringgit traded weaker on the day, with talk that the central bank mopped up $250 million around 3.0530 levels via currency intervention. -Reuters
Sterling at 1-month high on UK rate buzz
Swiss franc extends losses against euro
LONDON: Sterling hit a onemonth high against the dollar on Friday on expectations UK interest rates could rise in coming months due to sticky inflation, a view bolstered by higher-than-expected producer prices. The pound also gained ground against the euro despite brewing speculation that the European Central Bank may
week moving average at $1.5635, which would open the door to more gains. Data on Friday showed wholesale price risks are increasing due to rising oil and food prices. UK output prices rose 4.2 per cent on the year in December, the fastest rise since August and exceeding expectations for a 3.9 per cent increase.
need to raise rates sooner than previously expected. Traders said the Bank of England was still likely to move before the ECB in tightening policy and that helped sterling outperform. Sterling was up 0.26 per cent on the day to $1.5876, having hit a one-month high of $1.5886 earlier in the session. Option barriers are said to be lurking at $1.59. Escalating rate rise expectations and steady purchases by Asian central banks have pushed the pound nearly 2 per cent higher versus the dollar this week. The UK currency is poised to end the week above its 100-
The BoE kept rates unchanged on Thursday, but rising inflation has led to speculation it may raise interest rates as early as May, earlier than previous forecasts for a rise in late 2011. The euro lost 0.14 per cent to 84.22 pence, having risen to a session high of 84.99 pence. It failed to hold above its 55-day moving average which came in at 84.96 on Friday. A BoE rate rise would give the pound a clearer yield advantage over the dollar, while higher rates in the eurozone would increase the advantage of euro rates against many major currencies. Reuters
ZURICH: The Swiss franc extended losses against the euro on Friday, a day after its sharpest one-day fall against the single currency since September on hawkish European Central Bank comments and solid sales of Spanish debt. The euro remained on track for its largest weekly rise against the franc since March 2009, boosted by strong support for peripheral euro-zone bond sales and a surprise hint from ECB President JeanClaude Trichet that the bank could raise interest rates to combat inflation. "The euro-franc this week has been a one way move. Liquidity seems to be limited in the currency pair, which has accented the latest moves," said UBS economist Reto Huenerwadel "Mr Trichet's comments are an interesting development. He said inflation concerns are becoming more of an issue, and this observation has supported the euro-franc rate too." The franc dropped a further 0.4 per cent against the euro compared to the New York close, trading at 1.2929 francs per euro at 0758 GMT. The franc was also lower against the dollar, slipping 0.1 per cent to 0.965 francs per dollar. Reuters
Aussie, NZ dlrs give ground to euro, firm on US$ SYDNEY/WELLINGTON: The Australian dollar was trapped near a four-week low on the euro on Friday following a vicious offshore rally in the single currency which lifted it across the board. The euro gained more than 3 per cent this week against the US dollar, initially helped by successful sovereign debt auctions by Portugal and Spain. Hawkish comments by European Central Bank President Trichet sparked a wave of short-covering in the single currency on Thursday. The euro also hit hard the Aussie, with the single currency hovering around A$1.3386 on Friday, just off a four-week high of A$1.3409 in offshore trading. That was a marked turnaround from a record low of A$1.2918 seen on Monday and a rise of 3 per cent for the week. Annette Beacher, analyst at TD Securities in Singapore, attributes the sharp fall of the Australian currency to a correction of extreme positioning. "The difference between the Aussie and the euro is that Aussie is still heavy net long positions whereas euro is heavily net short," she
said. "Net shorts had to get their positions back that's why euro outperformed." Still, even with its bounce, the euro is still down 14 per cent on the Aussie since this time last year. The euro also regained some ground on the kiwi, rising more than 2 per cent this week. It stood at NZ$1.7300 on Friday, from a fiveyear low on Monday of NZ$1.6913. The Aussie held firm against a weaker US dollar, hovering around $0.9964 in very thin trade on Friday, having touched an 8-day high of $1.0021 in the offshore session. The local currency has gained more than two cents in the past three days from a $0.9803 low, in part as floods in Brisbane peaked short of the worst fears. The Aussie cross gave up its previous session's gains to be at NZ$1.2910 from NZ$1.3077, as the kiwi was well supported throughout the session. The kiwi dollar steadily gained through the local session to a 10-day high of $0.7728, before settling around $0.7698 in late trade. -Reuters
scenario is for failure ahead of 1.3500 and a slide back to 1.2795, the 61.8 per cent retracement of the move seen in the second half of 2010," she said in a note. The key euro-priced bank-to-bank lending rate jumped on Friday as expectations for a euro-zone rate rise were brought forward after Trichet's inflation warning on Thursday. The Australian dollar was down 0.7 per cent on the day at $0.9896, off an earlier high of $0.9994. The euro was flat at 1.2874 Swiss francs, off an earlier one-month high of 1.2953. The Swiss currency was pressured ahead of talks between the Swiss government and business and trade union representatives on the implications of the record-strong franc. The dollar slipped 0.1 per cent to 82.75 yen. US data on Friday showed a smaller-than-expected retail sales gain last month. -Reuters
Yuan at record high as USD slides globally SHANGHAI: The yuan on Friday hit a record high as a global slide in the dollar consolidated optimism the yuan will continue appreciating in the coming days during Chinese President Hu Jintao's visit to Washington from Jan. 18-20. The yuan hit an intraday high of 6.5870 versus the dollar, toppling its previous trading peak of 6.5896 touched on Dec. 31. The Chinese currency started trading in 1994. Major state-owned firms were seen buying dollars in large quantity, which had capped the yuan's rise in early trade, but dollar demand was overwhelmed by liquidation after the US dollar index dropped to its lowest level this year in late Asian trade, traders said. "Everybody started liquidating dollar positions as the index began sliding around 3 p.m.," said a trader in a Chinese bank. "This was prudent as the yuan is already faced with the possibility of a solid rise next week due to Hu's US visit." Spot yuan closed slightly off
highs at 6.5900 versus the dollar but up sharply from Thursday's close of 6.6046, having risen 3.59 per cent since its mid-June depegging. The People's Bank of China set a record high mid-point of 6.5896 on Friday, up from Thursday's 6.5997. It was a record high for the third day as Beijing was seen preparing to fend off US criticism of its currency policy days before Hu's US visit, despite the Chinese government saying it will not bow to foreign demand for faster gains in the yuan. Offshore dollar/yuan forwards rose slightly to imply less yuan appreciation in line with the view that the recent spurt in the yuan could lose momentum soon. Benchmark one-year nondeliverable dollar/yuan forwards were bid at 6.4390 late in the session, up from Thursday's close of 6.4330. Their implied yuan appreciation in a year's time fell slightly to 2.34 per cent from 2.44 per cent. Reuters
Indian rupee slips on stocks slide, inflation MUMBAI: The Indian rupee weakened on Friday as a sharp sell-off in domestic shares coupled with demand for the US unit to swap for euros after the single currency's global rally, weighed on the local unit. Traders said dollar demand for some defence-related purchases also exerted downward pressure on the rupee. The partially convertible rupee closed at 45.37/38 per dollar, 0.3 per cent weaker than its 45.24/25 close on Thursday, when it rose as much as 45.04 -- its strongest since Jan. 4. The rupee moved in a wide band of 45.1425 to 45.44. "I think the kind of volatility we saw recently will continue. Lots of things happening -- inflation, high interest rates, growth worries, among other things," said Ananth Narayan G., head of fixed income, currencies and commodities at Standard Chartered Bank in Mumbai. "Even if not directly, sentiment for capital inflows is pretty weak at the moment, including for further debt flows. Next week, sentiment will continue to be nervous,
Forecast
1.2% 1.0% 3.4% 0.5% 2.2% 1.1% -1.9B
1.0% 1.0% 1.6% 0.4% 2.2% 1.1% 1.9B
Previous
0.9% 1.0% 0.9% 0.4% 2.2% 1.1% 3.5B
Currencies Rate
Analysts expect $1.35 resistance to hold for euro NEW YORK: The euro headed for its best week in more than 1-1/2 years on Friday and could extend gains after a string of successful securities auctions by indebted euro-zone nations calmed fears of the region's credit crisis. The Australian dollar fell after China raised banks' reserve requirements by 50 basis points, stoking fears of a slowdown in the Chinese economy. Australia's strong trade links with China make it sensitive to Chinese growth expectations. The euro earlier hit a one-month high of $1.3458 on trading platform EBS and was on track for a weekly gain of nearly 3.7 per cent, the biggest since May, 2009. Gains this week were also fueled by comments from European Central Bank chief Jean-Claude Trichet, whose warning on inflation raised expectations of rising interest rates. Analysts said the euro will likely
Actual
given all the above factors and the last-minute inflows into foreign institutional investors' (FIIs) debt quota would also be over." One-month offshore non-deliverable forward contracts were quoted at 45.64, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCXSX and United Stock Exchange closed at 45.4650, 45.47 and 45.46 respectively, with the total traded volume on the three exchanges at an average $6.6 billion. -Reuters
Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3397 1.3457 0.9615 0.9685 1.5889 1.5887 0.9923 0.9974 0.9910 0.9992 110.7000 110.8800 0.8444 0.8499 1.2883 1.2952 131.1400 131.5700 85.9400 86.0600 0.9731 0.9763 1366.7500 1377.8000 -
Bid 1.3395 0.9611 1.5886 0.9918 0.9906 110.6600 0.8439 1.2878 131.0900 85.8800 0.9724 1366.0500 -
Low 1.3324 0.9609 1.5815 0.9887 0.9856 110.0700 0.8412 1.2853 130.4900 85.4300 0.9627 1361.2500 -
London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 14/01/2011 A USD GBP CAD EUR JPY O/N 0.23875 0.55813 0.94333 0.33313 SN 0.09375 1WK 0.25438 0.57063 1.00000 0.59250 0.10288 2WK 0.25656 0.57563 1.04167 0.61350 0.10938 1MO 0.26125 0.59563 1.09667 0.70063 0.12188 2MO 0.28250 0.65313 1.15417 0.81000 0.15000 3MO 0.30313 0.76750 1.24500 0.93813 0.18875 4MO 0.34500 0.85000 1.31667 1.00938 0.24313 5MO 0.40125 0.95500 1.37667 1.09500 0.30000 6MO 0.45594 1.06813 1.45000 1.18688 0.34750 7MO 0.50938 1.14413 1.51500 1.23875 0.39750 8MO 0.56125 1.22913 1.58917 1.29125 0.44313 9MO 0.61563 1.31100 1.66167 1.34625 0.48750 10MO 0.66813 1.39000 1.74167 1.39625 0.51438 11MO 0.72313 1.45750 1.82667 1.44375 0.54000 12MO 0.78219 1.52475 1.90833 1.48938 0.56750
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada January 18, 2011 September 8, 2010 Bank of England February 10, 2011 March 5, 2009 Bank of Japan January 25, 2011 December 19, 2008 Swiss National Bank March 17, 2011 March 12, 2009 The Reserve Bank of Australia February 1, 2011 November 2, 2010 Federal Reserve n/a December 16, 2008 European Central Bank n/a May 7, 2009
Current Interest Rate 1% 0.50% 0.10% 0.25% 4.75% 0.25% 1%
Division of National Bank of Pakistan (NBP) KARACHI, January 14,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.75 135.73 114.35 86.66 88.88 85.45 12.78 1.04 14.60 66.59 15.35 22.87 11.03 13.00 305.13 28.06 66.04 23.57 23.35 0.08 2.81
85.55 135.42 114.08 86.46 88.67 85.25 12.75 1.04 14.56 66.44 15.31 22.81 11.00 12.97 304.42 28.00 65.89 23.52 23.29 0.08 2.81
85.37 135.11 113.82 86.23 88.44 85.02 12.71 1.03 14.53 66.26 15.27 22.75 10.97 12.93 303.62 27.93 65.71 23.46 23.23 0.08 2.80
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 14, 2011
KASB 0-7days 12.85 8-15dys 12.90 16-30dys 12.95 31-60dys 13.05 61-90dys 13.34 91-120dys 13.42 121-180dys 13.43 181-270dys 13.58 271-365dys 13.75 2-- years 14.10 3-- years 14.22 4-- years 14.24 5-- years 14.25 6-- years 14.25 7-- years 14.26 8-- years 14.26 9-- years 14.24 10--years 14.27 15--years 14.55 20--years 14.70 30--years 14.80
BMA 12.80 12.85 12.90 13.00 13.40 13.40 13.51 13.55 13.72 14.00 14.21 14.23 14.23 14.35 14.37 14.25 14.14 14.26 14.60 14.75 14.85
ELXIR 12.90 12.95 12.95 13.00 13.40 13.47 13.50 13.62 13.72 14.00 14.23 14.24 14.26 14.35 14.37 14.24 14.15 14.28 14.55 14.75 15.00
GSL 12.85 12.90 12.90 13.10 13.41 13.44 13.47 13.65 13.77 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.25 14.65 14.90 15.10
ICSL 12.80 12.85 12.90 13.15 13.30 13.35 13.40 13.55 13.70 13.95 14.25 14.22 14.24 14.30 14.35 14.26 14.20 14.26 14.55 14.75 15.00
JSCM AvgRate 13.10 12.88 12.90 12.89 12.85 12.91 13.05 13.06 13.40 13.38 13.45 13.42 13.52 13.47 13.60 13.59 13.75 13.74 14.00 14.01 14.25 14.23 14.25 14.24 14.28 14.25 14.30 14.31 14.35 14.33 14.40 14.29 14.10 14.16 14.28 14.27 14.70 14.60 14.90 14.79 15.00 14.96
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
0.08 0.53 0.06 0.69 0.58 0.25
0.91 0.30 0.85 0.39 0.30 0.52
0.86 0.85 0.86 0.92 0.72 0.49
0.99 0.55 0.86 0.74 0.58 0.73
-0.06 0.35 0.80 0.81 0.76 0.80
-0.82 0.24 0.45 0.74 0.48 0.30
USD/CAD USD/CHF 0.00 0.19 0.39 -0.54 -0.30 -0.15
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)14/01/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN 12.55
13.05
12.65
13.15
12.75
13.25
13.30
13.55
13.50
13.75
13.60
14.10
13.60
14.15
13.70
14.20
JSBL
12.75
13.25
12.90
13.40
13.10
13.60
13.40
13.65
13.60
13.85
13.65
14.15
13.80
14.35
13.90
14.40
ASPK 12.70
13.20
12.70
13.20
12.85
13.35
13.25
13.50
13.45
13.70
13.50
14.00
13.60
14.10
13.70
14.20
CIPK
12.70
13.20
12.80
13.30
12.80
13.30
13.45
13.70
13.60
13.85
13.70
14.20
13.90
14.40
14.10
14.60
DBPK 12.55
13.05
12.60
13.10
12.70
13.20
13.20
13.45
13.35
13.60
13.50
14.00
13.55
14.05
13.60
14.10
FBPK 12.80
13.30
12.80
13.30
12.80
13.30
13.40
13.65
13.55
13.80
13.65
14.15
13.80
14.30
13.90
14.40
FLAH 12.90
13.40
12.80
13.30
12.85
13.35
13.35
13.60
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
HBPK 12.75
13.25
12.80
13.30
12.85
13.35
13.35
13.60
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
HKBP 12.70
13.20
12.70
13.20
12.80
13.30
13.45
13.70
13.65
13.90
13.75
14.25
13.85
14.35
13.90
14.40
NIPK
13.00
13.50
13.00
13.50
13.25
13.75
13.50
13.75
13.60
13.85
13.65
14.15
13.70
14.20
13.75
14.20
HMBP 12.70
13.20
12.75
13.25
12.85
13.35
13.25
13.50
13.35
13.60
13.50
14.00
13.60
14.10
13.70
14.20
SAMB 12.85
13.35
12.85
13.35
12.90
13.40
13.45
13.70
13.60
13.85
13.60
14.10
13.75
14.25
13.85
14.35
MCBK 12.70
13.20
12.70
13.20
12.80
13.30
13.25
13.50
13.40
13.65
13.50
14.00
13.60
14.10
13.75
14.25
NBPK 12.80
13.30
12.80
13.30
12.80
13.30
13.20
13.45
13.30
13.55
13.50
14.00
13.65
14.15
13.75
14.25
SCPK 12.70
13.20
12.70
13.20
12.75
13.25
13.25
13.50
13.40
13.65
13.55
14.05
13.60
14.10
13.80
14.30
UBPL 12.80
13.30
12.70
13.20
12.70
13.20
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.70
14.20
AVE
13.24
12.76
13.26
12.82
13.32
13.34
13.59
13.50
13.75
13.59
14.09
13.69
14.19
13.78
14.28
ABPL
12.74
ASK
0.06 -0.65 0.04 -0.63 -0.55 -0.45
4 Saturday, January 15, 2011
Democracy Must be Championed
The Financial Daily International Vol 4, Issue 153
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board S. Muneer Hussain Rizvi
Haseeb Khan, FCA Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Who cares? It is not a distant past that people considered violating norms of the society a bad thing and violators were not only looked down but interaction with such people was avoided to the most. However, now those violating the norms are considered non-conformists or even revolutionary. Since the value system is dying fast the younger generation takes pride in violating the norms. Every citizen has a long list of complaints but hardly bothers to take into account his/her deeds/misdeeds. Every one complains that government is not doing enough but is he/she fulfilling his/her duty? In this part of the world we throw our garbage in front of our neighbor's door. No money will be required to put this at the appropriate place like 'kutchra kundi'. We see heaps of garbage only because the janitorial staff of municipal authorities doesn't pick it up every morning. Staff is there, vehicles with drivers are standing in the yard and even diesel is available. However, some pilfer diesel, others take up part time jobs and those responsible for marking attendance, mark every one present only for a small share in the salary. Almost on every day market committees issue price lists, but no one knows how these prices are calculated. Though, people are paid to ensure that products are sold according to these price lists, neither the staff bothers to visit the market or make surprise visits but before their arrivals lists are replaced. A few touts are picked up for profiteering but no one is ever produced before the court and fined. On all the main roads, signals have been installed, pickets have been created, policemen and even sergeants are deployed but all sorts of violations are common. Motorists specially those driving luxury cars commit all sorts of violations but no one can dare stop them. For record purposes, a certain number of tickets are issued everyday, mostly fine is imposed on poor motorcyclists, rickshaws, mini buses and buses, who refuse to pay 'bhatta'. Any one willing to offer even the smallest amount is let free. Can one say the country does not have police, system is not in place and every one is not paid salary as well as perks? The key factor responsible for the financial crunch of electric utilities is pilferage, hovering around 50 per cent and receivables run into billions. Utilities have staff, laws are there but pilferage is still going on in the most naked form but nothing is done to round up the pilferers. All this is happening only because we believe in who cares or “sub chlta hai”. Every one raises fingers on others but never bothers to look at his/her acts. The entire society will change if individuals become conformist to a healthy code of conduct.
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.
Tarique Khan Javed
T
he challenge for democratic forces is formidable and the only chance they have is in forging a strong united force. They should rapidly enlist popular support by giving tickets to the common people so they become defenders of democracy and not easily fooled by the propaganda of vested interest. They must be made to understand that like rest of the World only democracy can bring them lasting relief by turning the popular will into people friendly policies. As we enter 2011 and a good feeling is that with all the handicaps democracy seems to be gaining roots in the country. A dictator was removed by pressure without bloodshed using Western pressure which has strong influence on our Armed forces. A case was made by democratic forces that the country deserves democracy like rest of the world. Charter of Democracy was signed and is currently the guiding principle protecting democratic set up. Establishments attempt to derail democratic process goes on but now democratic forces have become smart enough to know who their real enemies are and resisting. PML-N's role and resolve in this is most commendable. Recent attempts to topple PPP led government failed as they refused to join establishment initiated moves and finally MQM also decided to rejoin the Government. Now finally either PPP government should deliver or go. People will look forward to implementation of 11- point agenda given by PML-N within 45 days to see some improvement in their lives and finally taste some benefit of democracy. Institutional reforms to involve common man Popular sentiment against democracy is easily stirred by the fact that common people feel alienated from the process. It is known that politics is a very expensive game thus the poor have no role in it. Given no chance of entry in the power corridors common people do not see much difference between democratic and dictators rule. The benefit of rule always goes to the elite. The challenge is how to bring common man in the democratic process. MQM has demonstrated that it can field common man, bear all election expenditure and send them to assemblies and ministries. Other parties also occasionally do this for propaganda proposes but in them this is not a core belief. Institutional reforms like making Election Commission truly independent can help and we should all work towards that. EC may impose a maximum expense ceiling of say Rs 5lacs for o provincial and Rs7 lacs for National Assembly seat election. Any candidate found to have spent more than that may be declared debarred from election process for life. After independence of judiciary, the independence of Election Commission and State Bank of Pakistan should be our next agenda. Constant attack on democracy
“
The debate in Pakistan over democracy or dictatorship is most unfortunate. Except for Myanmar this debate has been won over by democrats centuries or decades ago. Such a debate is unthinkable in rest of the world. One plausible reason for such a debate is that since Ayub Khan's times a large number of journalists and media men of high stature were in fact paid agents of establishment led by armed forces. Who are paid to constantly mud sling democracy and democratic leaders. By hook or by crook, using their superb writing and speaking skill they manage to turn truth upside down and win debates in favour of dictatorship. They manage to disillusion masses against democracy blaming it for all the ills even if they were created in dictatorship. Nature calamities and global increase in price are all blamed on every democratic government while during dictatorship no such allegation is brought forward. World history indicates that people friendly policies can only be made in a free country ruled by its people. Priorities of people can not be sup-
because people love them but rather because people fear them. Every leader has his captive vote bank who obey his command and vote as directed. We may hope that as more and more elections are held things will change gradually. However in the case of Pakistan this may take a very long time given the submissive nature of people who easily submit to slightly stronger individual. Fruits of grass root leadership Grass root representatives prefer to continue to live in their modest houses and drive modest cars as practised by the Iranian leadership. Imam Khomeini continued to live in his rented flat in Qum till his death. They cut down the number and cost of ministries sharply and bring down expenditure. The benefit of lower expenditure can be passed on to people in the form of lower indirect taxes. This also removes the reason for printing notes thus eliminating the root causes of inflation i.e a general rise in prices of things (yet another form of indirect tax). In Iran after the revolution (1979-88) right of each city dweller to a house was recognized and government bought houses from owners of more than one house and distributed a m o n g homeless. Following the revolutionary spirit r e c e n t l y, Ahmad e N i j a a t , President of Iran who prided to be driving his 33 years old Peugeot car, auctioned his beloved car, to raise fund for housing project in cities for the poor. Iran's commitment for its people has not died down 21 years after the revolution. The present president of Maldives, hailing from modest background, reduced expenses on presidential office from USD 150 million to just USD 4 million and diverted the saving on old age pensions, health and education. Without a bloody revolution through the ballot Pakistanis can also see a change in their circumstances if they vote for parties committed to their cause. Among current parties MQM, Jamait-e-Islami and ANP best suit the need of the people. Their leadership is from middle class and they do not have much wealth or privileges to defend. They are all committed to Land reform
2nd World War and created an egalitarian society in which middle class became the deciding factor in politics. The Liberal Democratic Party has ruled there after with consistent economic policies. Inflation and interest rate at zero is the hallmark of this policy. Export led growth mainly to USA is another factor of economic success of Japan. No wonder the people of Japan are the happiest and wealthiest in the world. USA should support fundamental land reforms in rural areas and regularization of katchi abadies in urban areas, progressive tax regime, balanced budget, zero rate of inflation, an efficient justice system and non elitist democracy as tools in fight against terrorism. Terrorism in Pakistan is fed by these injustices. List of injustices in Pakistan includes the non inclusion of FATA and PATA in Pakistan and not extending the benefits the rest of Pakistanis enjoy. That needs to be fixed as well with the help of USA and other western nations. Conclusion and recommendations Given the hopeless situation in the country when elite are bent upon even eating the flesh of the people without any sign of remorse. They enjoy their vast and sinful privileges as MNAs, MPAs, senators, ministers and advisors financed by freshly printed notes which take poor man's their bread by means of 20% inflation, without any guilt or shame. The inflation is on top of 80% tax poor pay in the country while 98% rich pay nothing. No wonder poor in the country are unhappy and protesting. Thing can not remain the same with the advent of mass media. Things will change very fast now. The choice is now between surrendering the old privileges voluntarily or after lot of blood bath. Desperately poor people are ready to die for justice and the rich with their paid paper tiger guards are no match for them, if Army remains neutral, as they should. To avert a bloody clash following measures are recommended: 1. Land Reform Act of 1977 be pressed for long in good working implemented immediately. democracy. In the market for votes par2. All katchi abadies and goths ties compete to attract voters with more in existence since 2005 should be reguand more people friendly manifestos. larized. The party which fails to provide mani3. Central bank should be made festo in line with people's expectations independent and asked to pursue policy wither away and new parties take the that will not let inflation go beyond 2% lime light. Like a market for goods and while the aim should be 0%. services there are no life long and per4. Tax burden should be shifted manent stature parties. from poor to rich so that rich pay 80% Democracy a threat to status quo of tax and poor contribute rest 20%. Democracy is not liked by landlords, This to be done by introducing "Wealth jagirdars, sardars and the armed forces Tax" and "Inheritance Tax" and removas they know that under a democratic ing the exception on Agriculture set up their centuries old privileges will income for Income Tax collection. be taken away or curtailed. They form a 5. Parallel Islamic courts should strong united lobby against democratic be established all over country so that forces and in turn people. They are procommon man can get justice cheaply vided a helping hand by the kind of and quickly. All pending cases should democracy being be decided on a war practiced up to World history indicates that people friendly footing. now. 6. A limit of The present policies can only be made in a free country Rs5 lacs for a MPA democracy in and Rs7 lacs for Pakistan is for the ruled by its people. Priorities of people can MNA's election elite only and does campaign should be not represent the not be suppressed for long in good working fixed and must be wishes of masses. monitored closely. democracy. In the market of votes, parties This Only rich get electwill allow comed and why they mon people to take compete to attract voters with more and should allow paspart in election. sage of any law more people-friendly manifestos. The party 7. A ceiling that will take away maximum numwhich fails to provide a manifesto in line on their privileges. ber of ministers The tax collection with people’s expectations wither away and should be fixed. is one sided, only Whereby in the cenpoor have to pay, tre would not more new parties take the lime light. Like a inflation is being than 10 ministers to market for goods and services there are no manage the affairs. used to crush the common man and In the provinces the life long and permanent stature parties redistribution of number should not land is on hold. exceed 5. This was so in previous regime of Gen and major austerity measures. With one 8. The salaries and privileges of Musharraf and is the same in the demo- or two more election more parties with ministers, advisors, senators, MNAs cratic government. Priorities have not clear cut manifestos are likely to and MPAs should be reduced to half. changed as is expected after a transition emerge in a natural process. Main 9. A grass root party should be to democracy. Anti people policies requirement is that at any cost we formed which will promise to change continue as people do not matter in the should not let the democratic process be things for better, on above lines. current set up. Elected representatives derailed. President,Overseas Pakistan do not feel any pressure of the people as USA should not take sides Investors Forum they know they win their election not USA redistributed land in Japan after
As we enter 2011 and a good feeling is that with all the handicaps democracy seems to be gaining roots in the country. A dictator was removed by pressure without bloodshed using Western pressure which has strong influence on our Armed forces. A case was made by democratic forces that the country deserves democracy like rest of the world. Charter of Democracy was signed and is currently the guiding principle protecting democratic set up.
Long Live Karachi! On Thursday, the 13th of January, we lost a TV journalist brother in the target killing by some terrorists in Karachi. May be I will never live to see the day when people will be crying on my success, this is how I feel on the tragic death of Wali Khan Babar. Babar was one of the popular and hand working reporter of Geo News who was killed Thursday when he was on his way back home from his office. It is an example of his dedication to the profession of Journalism.
Babar, 29, hailing from Zhob, Balochistan was the first reporter to die in the line of duty in Pakistan in 2011. Babar was not only journalist who was killed by terrorists. We have lost almost 39 journalists in the line of duty since 1994. 'It appeared to be a premeditated murder,' police said, ruling out an attempted mugging, a common crime in Karachi, Pakistan's largest city with 1.8 million people. It was not immediately known whether he was killed due to his background, his aggressive jour-
nalism or for any other reason. Karachi is held hostage once again by parties donning their mafia masks. Who wants to occupy costly city land and turn it into a grave yard and why? Because Karachi is the hub economic hub of Pakistan and every political party wants to establish its claim on it by any means.. They should, in fact, have to merge with each other and live in an atmosphere of brotherhood. Almost 30 people were killed in shooting in 48 hours in Karachi following the killing of Babar.
Karachi city whose love I have so fiercely defended here is the city with all the good memories of my past and hopes for my bright future also lie here. I would like to appeal to the Government of Pakistan and Sindh administration to arrest the perpetrators and award exemplary punishment to the killers. May Allah Almighty rest the departed soul in eternal peace and grant courage and fortitude to the bereaved family to bear this irreparable loss. Ali Zhoraiz Jaffri, Karachi
6
Saturday, January 15, 2011
Market
KSE 100 Index
Symbols
Volume
300,500,162
Value
14,436,451,763
Trades
120,060
Advanced Declined Unchanged Total
Current High Low Change
234 130 19 383
All Share Index
12,533.54 12,550.27 12,458.98 h74.10
Current High Low Change
8,694.33 8,706.60 8,638.23 h56.10
OIL AND GAS
Company
Paid up Cap(mn)
Current High Low Change
KMI 30 Index Current High Low Change
12,329.65 12,363.07 12,238.23 h91.42
20,416.86 20,457.44 20,130.03 h286.83
High Low 1,639.22 1,607.60 Total cos Defaulter cos P/BV (x) ROE (%) 3.80 32.54
PE
Open
High
Low
Close Chg
Volume
383.24 137.61 11.42 131.90 316.59 174.62 223.31 332.10 107.50 297.65 32.99 205.66
398.89 143.90 11.70 136.48 324.40 175.85 225.70 335.60 109.00 309.39 33.00 215.00
380.00 137.62 11.43 130.90 315.05 172.80 223.01 330.50 106.50 298.85 32.26 207.00
385.53 2.29 142.41 4.80 11.64 0.22 134.99 3.09 323.14 6.55 173.29 -1.33 223.70 0.39 333.34 1.24 107.07 -0.43 306.18 8.53 32.42 -0.57 211.54 5.88
795741 4621472 2461693 419980 257864 1053362 1088583 2125209 97630 4809028 2423 291342
Last 60 days High Low 398.89 143.90 12.49 136.48 324.40 185.00 228.88 335.60 114.50 309.39 40.28 215.00
287.99 89.50 10.49 111.50 203.00 149.50 184.00 231.01 74.00 262.00 31.05 182.05
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
% Change 0.19 5-Day High 1,619.92 5-Day Low 1,590.91 2011 Div BR (%) (%)
20B - 15.00 20B -
-
CHEMICALS
Open 732.48 Turnover 37,128 P/E (x) 5.66 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
High Low 743.17 724.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 25.53
Close 731.39 Listed cap 3,242.17 mn Payout (%) 11.08
Change -1.08 Market cap 12,915.83 mn Div Yield (%) 1.96
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.05 40.49
70.39 37.70
71.10 38.90
70.02 36.50
70.49 0.10 37.25 -0.45
15700 21428
77.77 40.42
60.05 32.36
Open
High
Low
Agritech Limited 3924 8.14 22.25 Bawany Air 68 66.83 8.44 BOC (Pak) 250 13.63 100.01 Clariant Pak 273 7.31 188.25 Dawood Hercules 1203 8.80 202.61 Descon Chemical 1996 3.11 Descon Oxychem Ltd. 1020 8.36 Dewan Salman 3663 3.16 Engro Corporation Ltd 3277 12.07 209.31 Engro Polymer 6635 - 14.75 Fatima Fertilizer 22000 - 11.51 Fauji Fertilizer 6785 10.47 137.65 Fauji Fert.Bin Qasim 9341 7.74 39.12 Gatron Ind 384 2.58 48.05 Ghani Gases Ltd 725 9.35 12.56 ICI Pakistan 1388 8.73 155.45 Leiner Gelatine 75 - 13.00 Lotte Pakistan 15142 5.56 15.50 Mandviwala 74 1.63 Nimir Ind Chemical 1106 1.93 Shaffi Chemical 120 2.40 Sitara Chem Ind 214 10.01 124.62 Sitara Peroxide 551 15.18 13.46 United Distributors 92 8.76 Wah-Noble 90 7.64 40.60
Company
PE
22.75 9.00 100.99 193.00 212.74 3.22 8.59 3.24 219.77 15.49 12.00 144.53 41.07 50.20 12.49 156.39 12.02 15.77 1.80 2.03 2.45 125.88 14.25 9.59 41.99
21.58 8.00 99.20 189.00 202.05 3.06 8.33 3.02 210.12 14.63 11.46 137.53 39.06 48.00 12.25 153.99 12.00 15.22 1.30 1.90 2.11 122.00 13.40 9.46 39.31
Close Chg 22.46 8.02 99.26 191.17 212.14 3.10 8.49 3.11 219.68 15.41 11.97 144.53 41.03 48.00 12.34 154.87 12.00 15.56 1.33 1.99 2.44 122.10 13.97 9.52 39.72
0.21 -0.42 -0.75 2.92 9.53 -0.01 0.13 -0.05 10.37 0.66 0.46 6.88 1.91 -0.05 -0.22 -0.58 -1.00 0.06 -0.30 0.06 0.04 -2.52 0.51 0.76 -0.88
Close 1,575.63 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 68003 1805 3717 40549 529069 127002 123031 1049448 8469781 2342281 10113240 5771066 30560911 101 66001 404640 600 29256209 188521 172069 1006 3833 643076 2890 9996
Change 64.45 Market cap 339,782.54 mn Div Yield (%) 5.19
24.85 11.50 103.94 209.98 212.74 3.74 9.25 4.24 219.77 15.87 12.00 144.53 41.07 50.40 13.07 156.89 24.00 15.77 2.50 2.74 3.40 139.40 14.69 11.75 43.75
20.26 7.16 74.00 149.72 165.73 2.11 3.92 1.40 174.65 12.90 9.16 106.01 29.03 39.00 11.00 121.00 12.00 9.35 0.80 1.35 1.80 101.00 8.85 8.51 32.00
2010 Div BR (%) (%) 5 15 40 40 95 17.5 20 55 25 50
10R 5B -
% Change 4.26 5-Day High 1,575.63 5-Day Low 1,478.56 2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,233.80 Turnover 66,534 P/E (x) 6.30 Company
High Low 1,239.90 1,215.81 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47
Close 1,227.62 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.68 6.90
18.99 45.95 44.70
19.10 45.25 45.00
18.50 44.50 44.50
18.79 -0.20 45.15 -0.80 44.72 0.02
55383 1906 9245
Century Paper Pak Paper Product Security Paper
Change -6.18 Market cap 3,419.18 mn Div Yield (%) 4.01
Last 60 days High Low 19.69 48.90 47.70
15.28 38.75 38.00
2010 Div BR (%) (%) 2533.33B 50 -
% Change -0.50 5-Day High 1,235.13 5-Day Low 1,227.44 2011 Div BR (%) (%) -
-
Open 1,288.16 Turnover 687,520 P/E (x) 4.62 Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Engineering Ltd Dewan Motors General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
PE
Open
144 5.96 79.01 101 6.03 201.03 247 20.85 22.24 890 2.30 598 22.37 25.47 450 3.56 4.98 200 6.78 4.40 1428 - 11.89 786 6.73 282.71 823 11.46 71.07 150 4.14 21.35
High
High Low 1,334.48 1,285.90 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 25.35 Low
Close Chg
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
Open
High
Low
565 4.56 675 555 9.90 1199 12.30 785 11.52
27.81 2.56 15.53 58.03 9.50
29.20 2.60 16.00 60.93 10.39
28.00 2.50 15.65 58.52 9.31
Close Chg 29.20 2.53 15.84 59.02 10.14
1.39 -0.03 0.31 0.99 0.64
Close 1,118.41 Listed cap 3,596.11 mn Payout (%) 30.91
526509 78203 44374 255402 4404
29.20 3.39 16.51 62.20 10.70
Company
Paid up Cap(mn)
Adam Sugar AL-Noor Sugar Ansari Sugar Chashma SugarSPOT Clover Pakistan Colony Sugar Mills Crescent Sugar Dewan Sugar Faran Sugar Habib SugarXDXB Haseeb WaqasSPOT J D W Sugar Mehran SugarXDXB Mirpurkhas Sugar Mirza Sugar Mithchells Fruit National Foods Nestle Pakistan Noon Pakistan Noon Sugar Pangrio Sugar Quice Food S S Oil Sakrand Sugar Sanghar SugarSPOT Shahmurad Sugar Shahtaj Sugar Shakarganj Mills Tandlianwala Thal Industries Wazir Ali
58 186 244 287 94 990 214 365 217 750 324 490 157 84 141 50 414 453 48 165 109 107 57 223 119 211 120 695 1177 150 80
PE
Close 1,319.95 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change 31.79 Market cap 47,057.76 mn Div Yield (%) 4.42
Last 60 days High Low
Change 32.70 Market cap 10,559.66 mn Div Yield (%) 8.82
24.00 2.14 12.50 44.00 8.00
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Buxly Paints Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Shabbir Tiles
PE
Open
High
Low
1828 866 6.55 858 182 3257 14 956 24.55 982 14.00 948 3891 3651 130.29 350 4.27 6933 15.33 502 3.75 1760 77 2319 32 1288 13126 3234 6.92 5261 1.29 2228 200 361 -
3.05 62.76 2.45 21.40 17.51 14.00 10.69 1.72 2.26 2.13 31.02 2.90 5.03 7.20 1.76 1.70 6.60 0.69 6.50 3.36 76.27 2.79 7.13 7.00 8.52
3.45 63.10 2.90 22.00 16.51 13.50 11.50 1.89 2.49 2.16 32.10 3.79 5.10 7.30 1.84 2.20 7.40 0.77 6.70 3.69 77.45 2.85 7.21 7.94 8.25
3.11 62.00 2.56 21.35 16.51 13.00 10.40 1.71 2.25 2.05 30.85 2.55 4.99 7.10 1.70 1.70 7.00 0.55 6.40 3.30 75.51 2.75 7.01 6.50 8.25
Close 1,019.24 Listed cap 54,792.74 mn Payout (%) 19.04
2010 Div BR (%) (%) 30 40 7.5
20B -
Change 9.42 Market cap 71,748.31 mn Div Yield (%) 2.52
Close Chg
Volume
Last 60 days High Low
3.16 62.23 2.79 21.51 16.51 13.40 10.80 1.82 2.49 2.10 31.27 3.59 5.06 7.20 1.81 1.70 7.40 0.63 6.64 3.60 77.07 2.77 7.18 7.06 8.25
19424 176053 3476 14053 700 390 51406 32991 5005 155801 19787580 2091 520500 6300 79095 45002 509 14035 27335 7475318 8453723 700340 111280 329 297
3.98 65.99 4.24 24.16 24.80 15.50 12.75 2.49 3.49 3.10 32.10 3.99 5.55 8.20 2.25 5.00 9.19 1.08 8.70 3.79 79.98 3.30 8.58 7.94 9.60
0.11 -0.53 0.34 0.11 -1.00 -0.60 0.11 0.10 0.23 -0.03 0.25 0.69 0.03 0.00 0.05 0.00 0.80 -0.06 0.14 0.24 0.80 -0.02 0.05 0.06 -0.27
% Change 3.01 5-Day High 1,118.41 5-Day Low 1,060.80 2011 Div BR (%) (%) -
-
2.80 57.60 1.10 14.53 16.51 7.91 10.00 1.31 1.11 1.40 25.27 2.27 4.72 5.05 1.60 1.18 2.70 0.42 5.80 2.79 69.20 2.66 6.52 5.25 6.30
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 -
% Change 0.93 5-Day High 1,019.24 5-Day Low 991.31 2011 Div BR (%) (%) -
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,049.44 Turnover 589,133 P/E (x) 2.91 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
PE
Open
115 2.79 78.20 230 2.66 1067 5.09 54.85 389 3.10 47 61.55 23.45 844 68.03 127.53 300 9.39 128.79
High
High Low 1,072.88 1,036.65 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91 Low
Close Chg
79.10 78.00 78.38 2.89 2.30 2.84 56.00 54.50 55.35 3.73 2.96 3.36 24.62 24.10 24.62 133.49 125.26 132.66 130.00 125.60 128.74
0.18 0.18 0.50 0.26 1.17 5.13 -0.05
Close 1,066.28 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 26663 107756 1863 2008 11239 404471 35124
Change 16.85 Market cap 39,591.10 mn Div Yield (%) 5.34
Last 60 days High Low 83.23 3.30 56.45 4.05 25.90 136.74 130.00
34.00 1.82 45.30 1.60 15.10 101.00 100.00
2010 Div BR (%) (%) 20 25 -
25B 10B -
% Change 1.61 5-Day High 1,066.28 5-Day Low 1,046.14 2011 Div BR (%) (%) -
-
INDUSTRIAL ENGINEERING
Company
Paid up Cap(mn)
AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB Pak Engineering
PE
215 5.78 104 214 213 12.04 124 132 7.21 366 7.29 57 478.39
Open 237.34 44.00 1.46 13.02 126.00 60.01 541.10 180.12
High 244.95 46.00 1.49 13.49 126.00 61.50 560.00 174.30
High Low 1,635.26 1,586.63 Total cos Defaulter cos P/BV (x) ROE (%) 3.29 38.02 Low 239.00 45.25 1.21 12.81 121.50 59.00 543.00 171.12
Close Chg 241.36 46.00 1.31 13.00 124.99 60.23 557.08 172.22
4.02 2.00 -0.15 -0.02 -1.01 0.22 15.98 -7.90
Close 1,624.71 Listed cap 1,336.62 mn Payout (%) 131.49
Volume 20355 1933 3120 13569 592 2973 121031 1692
-
65.75 145.00 15.00 1.20 21.00 4.12 4.00 10.60 227.00 66.75 17.92
2010 Div BR (%) (%) 90 100 20 150 10
% Change 2.47 5-Day High 1,319.95 5-Day Low 1,227.98 2011 Div BR (%) (%)
20B 20B
-
-
High
Low
Close Chg -0.24 -1.95 -0.10 -0.20 -3.20 0.01 -0.54 0.11 -0.36 -0.79 0.89 1.21 1.01 -0.95 -0.09 0.63 -0.73 98.82 0.39 0.25 -0.21 0.04 -0.05 0.18 -0.25 0.03 2.60 -0.35 1.69 -2.81 0.92
Close 1,708.23 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 6.62 Market cap 230,933.35 mn Div Yield (%) 0.80
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
37.85
Total Assets (Rs in mn)
214.66
MA (10-day)
1.67
Total Equity (Rs in mn)
(226.08)
MA (100-day)
1.79
Revenue (Rs in mn)
MA (200-day)
1.94
Interest Expense
1st Support
1.20
Loss after Taxation
(17.96)
2nd Support
1.00
EPS 10 (Rs)
(2.442)
1st Resistance
1.70
Book value / share (Rs)
(30.74)
2nd Resistance
2.00
PE 11 E (x)
Pivot
1.50
PBV (x)
203.53 4.23
(0.04)
MWMP closed down -0.30 at 1.33. Volume was 185 per cent above average (trending) and Bollinger Bands were 20 per cent narrower than normal. The company's loss after taxation stood at Rs13.042 million which translates into a Loss Per Share of Rs1.77 for the 1st quarter of current fiscal year (1QFY11). MWMP is currently 31.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of MWMP (bearish). Trend forecasting oscillators are currently bearish on MWMP.
Mybank Limited
Last 60 days High Low
4508 20.50 12.46 20599 53.02 41.00 2000 6.99 4.03 2403 15.47 8.50 716 78.40 46.15 2604 5.70 2.60 152 7.00 5.00 31703 5.59 1.42 8000 21.73 19.00 132731 36.50 22.60 1300 23.62 16.50 18729 92.50 70.00 20362 68.49 52.60 350 68.22 48.11 4917 7.18 4.20 493 89.90 61.50 460 75.50 39.01 406 2600.00 1830.00 700 27.30 17.51 1100 14.84 9.00 6299 6.99 4.25 15000 3.20 2.02 9000 3.89 3.00 500 3.90 2.11 11362 15.00 13.00 1506 13.50 9.85 101 100.26 56.01 3146 7.88 4.06 1755 40.61 28.88 5039 98.70 53.39 600 8.89 4.75
2010 Div BR (%) (%)
% Change 0.39 5-Day High 1,708.23 5-Day Low 1,669.92 2011 Div BR (%) (%)
25 50 10 15 25 25 25B 10 7010B 12.5R 35 20B 15 20B 10 40 12 450 12 10 15 10 15 -
-
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
62.96
Total Assets (Rs in mn)
MA (10-day)
2.75
Total Equity (Rs in mn)
5,104.86
MA (100-day)
2.27
Revenue (Rs in mn)
3,368.22
MA (200-day)
2.70
Interest Expense
35,490.71
2,881.90
1st Support
2.88
Loss after Taxation
2nd Support
2.77
EPS 09 (Rs)
1st Resistance
3.06
Book value / share (Rs)
2nd Resistance
3.13
PE 10 E (x)
Pivot
2.95
PBV (x)
(1,639.83) (3.092) 9.63 0.31
MYBL closed up 0.27 at 3.00. Volume was 392 per cent above average (trending) and Bollinger Bands were 14 per cent wider 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 11.1 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into MYBL (bullish). Trend forecasting oscillators are currently bullish on MYBL.
Lafarge Pakistan Cement Ltd
HOUSEHOLD GOODS
Company
Paid up Cap(mn)
Diamond Ind 90 Gauhar Engineering Ltd 22 Hussain Industries 106 Pak Elektron 1174 Tariq Glass Ind 231
PE 3.83 2.56
200.00 42.90 0.21 10.55 114.01 58.55 443.00 171.12
Open 10.70 1.00 6.42 15.36 21.96
High 11.68 0.65 7.35 15.74 22.50
High Low 1,187.45 1,132.34 Total cos Defaulter cos P/BV (x) ROE (%) 0.33 10.64 Low 9.71 0.65 6.40 15.06 21.20
Close Chg 11.68 0.65 6.40 15.22 21.38
0.98 -0.35 -0.02 -0.14 -0.58
Close 1,148.83 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 1772 5000 2005 198422 60213
Change -10.94 Market cap 5,308.80 mn Div Yield (%) 2.03
Last 60 days High Low 15.84 1.65 11.49 15.74 22.50
7.55 0.20 6.10 12.90 15.90
2010 Div BR (%) (%) 17.5
10B -
% Change -0.94 5-Day High 1,159.76 5-Day Low 1,127.50 2011 Div BR (%) (%) -
-
PERSONAL GOODS Performance of SR Personal Goods Index Open 1,010.49 Turnover 44,508,490 P/E (x) 6.84 Company
Paid up Cap(mn)
Amtex Limited Azgard Nine Babri Cotton Bata (Pak) Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute D S Ind Ltd Data Textile Dawood Lawrencepur Din Textile Ellcot Spinning Ghani Value Glass Gulistan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Ishaq Textile J K Spinning Janana D Mal Kohat Textile Kohinoor Ind Kohinoor Spinning Kohinoor Textile Masood Textile Mohd Farooq Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Quality Textile Ravi Textile Redco Textile Reliance Weaving Rupali Poly Saif Textile Salman Noman Samin Textile Service Ind Shahtaj Textile Suraj Cotton Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zil Limited
2594 4493 33 76 1150 316 2442 238 600 99 514 204 110 75 146 716 3105 99 180 97 184 43 208 303 1300 1455 600 189 145 1596 3516 560 174 160 250 213 308 341 264 42 267 120 97 180 307 418 215 400 53
High Low 1,025.44 1,004.40 Total cos Defaulter cos P/BV (x) ROE (%) 0.59 8.64
PE
Open
High
Low
9.80 0.46 5.28 36.19 4.03 51.69 0.58 0.65 6.71 1.27 0.75 3.78 0.65 3.91 1.30 0.93 0.26 0.53 0.49 3.71 2.01 2.03 6.08 3.25 0.73 0.81 0.64 4.90 0.39 2.22 4.99 8.30 0.90 5.43 9.57 0.56 3.80
4.14 9.66 12.35 637.01 3.06 960.24 2.49 1.12 1.74 0.41 43.25 26.60 20.75 26.50 6.65 3.91 46.89 7.10 3.78 7.25 6.00 16.35 1.00 1.56 1.25 5.00 19.32 1.11 0.45 23.63 69.71 9.60 10.00 13.50 1.49 0.65 9.30 38.78 4.70 5.61 5.99 231.00 19.65 40.00 128.30 59.49 0.68 1.64 56.00
4.49 10.66 12.00 645.00 3.35 965.00 2.69 1.14 1.86 0.26 44.95 27.45 21.45 26.00 6.65 4.09 48.40 8.10 3.89 7.25 6.10 16.01 1.00 1.90 1.50 5.35 19.24 1.11 0.71 24.74 71.66 9.65 10.05 13.49 1.60 0.99 9.50 39.89 4.94 6.35 5.99 242.55 19.65 41.00 129.00 61.95 0.69 1.67 57.00
4.14 9.62 11.35 620.00 3.06 935.00 2.28 1.00 1.75 0.26 42.50 27.00 20.81 25.51 6.10 3.31 46.50 6.10 3.60 7.24 6.00 16.00 0.85 1.43 1.30 5.02 19.06 1.11 0.37 23.50 69.70 9.60 10.00 13.49 1.45 0.94 8.95 38.00 4.10 5.25 5.99 230.50 19.52 38.51 127.00 59.50 0.69 1.35 56.49
Close Chg 4.31 10.66 11.35 637.10 3.13 964.08 2.58 1.00 1.75 0.26 43.94 27.00 21.30 25.51 6.64 4.01 48.07 7.70 3.60 7.25 6.10 16.00 1.00 1.65 1.35 5.20 19.06 1.11 0.49 24.47 70.82 9.61 10.00 13.49 1.53 0.99 9.20 39.00 4.90 5.25 5.99 242.55 19.59 39.99 127.11 60.08 0.69 1.60 56.74
0.17 1.00 -1.00 0.09 0.07 3.84 0.09 -0.12 0.01 -0.15 0.69 0.40 0.55 -0.99 -0.01 0.10 1.18 0.60 -0.18 0.00 0.10 -0.35 0.00 0.09 0.10 0.20 -0.26 0.00 0.04 0.84 1.11 0.01 0.00 -0.01 0.04 0.34 -0.10 0.22 0.20 -0.36 0.00 11.55 -0.06 -0.01 -1.19 0.59 0.01 -0.04 0.74
Close 1,017.38 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 6.89 Market cap 138,372.44 mn Div Yield (%) 2.44
Last 60 days High Low
1542495 11.84 27185066 12.32 55608 17.85 832 747.48 42010 3.90 288 966.00 49793 3.33 5002 1.38 25103 2.37 500 0.90 14213 47.00 303 27.54 521 22.20 1906 41.20 215 8.86 9982 4.88 208362 48.40 16015 8.74 2601 4.45 2499 7.70 16036 9.50 1500 19.40 57086 1.50 25654 2.00 1102 2.00 29690 5.97 101 21.40 1100 2.08 511 0.95 5959047 25.14 8435336 71.66 800 10.50 3000 11.25 288 13.50 273964 1.98 2500 1.45 553 11.50 209 39.89 2780 6.85 14900 6.35 499 8.00 32034 276.50 2875 21.90 117404 41.00 69232 132.00 292251 63.30 200 1.50 2554 2.00 1445 58.99
2010 Div BR (%) (%)
4.00 30 9.20 8.10 - 15B 446.00 2.94 740.00 2.16 0.16 1.52 0.11 36.10 5 22.50 20 10B 17.21 35 25.51 25 5.01 10 3.31 10 34.98 20 2.85 2.60 10 4.50 8 4.05 20 5B 13.25 0.51 1.10 0.16 5 4.82 18.01 15 100R 0.50 0.14 18.30 15 50.00 25 45R 5.25 8.00 10 10B 7.51 15 1.26 0.55 8.01 25SD 31.25 40 3.10 2.01 5B 5.11 - 100R 169.00 15.61 45 29.00 50 86.50 80 20B 37.90 0.42 0.86 36.00 35 -
% Change 0.68 5-Day High 1,017.38 5-Day Low 1,007.46 2011 Div BR (%) (%) -
-
PHARMA AND BIO TECH
Change 38.52 Market cap 34,312.48 mn Div Yield (%) 15.20
Last 60 days High Low 244.95 49.50 2.40 14.80 147.89 78.90 560.00 310.00
Open
Open 1,159.76 Turnover 267,509 P/E (x) 3.09
Performance of SR Industrial Engineering Index Open 1,586.18 Turnover 165,265 P/E (x) 8.65
2307 80.00 11627 204.40 160 23.35 124100 2.89 35216 26.74 73731 5.67 10000 5.75 180549 13.40 40723 296.84 191205 77.90 17897 22.41
High Low 1,751.57 1,660.65 Total cos Defaulter cos P/BV (x) ROE (%) 11.53 30.30
1.20 19.50 19.99 19.25 19.26 3.47 49.55 49.50 47.08 47.60 0.24 5.10 5.00 5.00 5.00 1.06 10.70 10.94 10.50 10.50 11.12 71.27 74.81 68.02 68.07 2.87 3.41 3.99 3.40 3.42 6.05 5.51 5.51 5.51 3.59 4.00 3.61 3.70 4.16 21.06 21.00 20.50 20.70 5.09 23.42 23.99 22.60 22.63 16.30 22.10 23.20 21.85 22.99 3.24 90.02 91.50 90.01 91.23 3.25 53.99 55.00 53.50 55.00 4.34 53.00 55.00 51.25 52.05 0.62 6.22 6.39 6.00 6.13 8.80 80.50 83.00 80.70 81.13 22.50 61.04 61.00 60.00 60.31 28.55 2500.50 2600.00 2500.00 2599.32 3.57 24.60 25.00 24.98 24.99 - 10.00 10.25 9.90 10.25 0.88 6.22 6.24 5.80 6.01 6.77 2.94 2.99 2.98 2.98 0.27 3.20 3.20 3.15 3.15 1.44 2.81 2.99 2.99 2.99 1.25 14.26 14.26 13.95 14.01 7.52 11.47 11.69 11.20 11.50 - 62.90 65.50 65.50 65.50 5.50 5.74 5.10 5.15 367.00 38.68 40.61 40.00 40.37 6.73 56.20 53.40 53.39 53.39 7.01 7.95 7.90 7.93
Performance of SR Construction and Materials Index High Low 1,033.41 999.12 Total cos Defaulter cos P/BV (x) ROE (%) 0.54 7.10
-
FOOD PRODUCERS
CONSTRUCTION AND MATERIALS Open 1,009.82 Turnover 37,682,704 P/E (x) 7.56
2011 Div BR (%) (%)
-
Performance of SR Household Goods Index
Last 60 days High Low
Volume
79.99 78.65 78.70 -0.31 204.40 199.50 201.90 0.87 23.35 23.35 23.35 1.11 2.39 2.20 2.30 0.00 26.74 25.78 25.95 0.48 5.29 5.00 5.13 0.15 4.35 4.10 4.34 -0.06 12.70 11.70 12.39 0.50 296.84 283.00 294.99 12.28 73.00 71.00 71.99 0.92 22.41 21.50 22.20 0.85
Open 1,701.61 Turnover 308,760 P/E (x) 38.07
Performance of SR Industrial Metals and Mining Index High Low 1,142.20 1,090.79 Total cos Defaulter cos P/BV (x) ROE (%) 1.16 33.10
40 15
Performance of SR Food Producers Index
INDUSTRIAL METALS AND MINING Open 1,085.71 Turnover 908,892 P/E (x) 3.51
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
Company
High Low 1,579.40 1,508.66 Total cos Defaulter cos P/BV (x) ROE (%) 3.29 35.00
% Change -0.15 5-Day High 732.48 5-Day Low 716.27
AUTOMOBILE AND PARTS
Performance of SR Chemicals Index
Paid up Cap(mn)
Mandviwalla Mauser Plastic Ind. Ltd
Performance of SR Industrial Transportation Index
Close Change 1,619.92 3.14 Listed cap Market cap 65,194.15 mn 1,243,798.83 mn Payout (%) Div Yield (%) 55.94 4.79
Attock Petroleum 691 6.68 Attock Refinery 853 7.98 BYCO Petroleum 3921 Mari Gas Company 735 18.29 National Refinery 800 4.79 Oil & Gas Development 43009 11.72 Pak Petroleum 11950 9.10 Pak Oilfields 2365 7.87 Pak Refinery Limited 350 P.S.O 1715 5.18 Shell Gas LPG 226 Shell Pakistan 685 10.85
Open 1,511.18 Turnover 79,708,604 P/E (x) 9.41
Alert ! Unusual Movements
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,616.78 Turnover 15,562,634 P/E (x) 11.68
KSE 30 Index
2010 Div BR (%) (%) 150 25 650 100
10B 25B -
Performance of SR Pharma and Bio Tech Index
% Change 2.43 5-Day High 1,624.71 5-Day Low 1,549.21 2011 Div BR (%) (%) -
-
Open 984.67 Turnover 96,230 P/E (x) 7.28 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
9.40 107.90 6.76 90.00 15.29 84.01 8.06 29.25 7.08 8.23 11.45 143.00 5.81 63.65
High
High Low 995.58 980.62 Total cos Defaulter cos P/BV (x) ROE (%) 1.62 22.31 Low
Close Chg
108.00 107.00 107.26 -0.64 91.88 89.50 89.51 -0.49 85.19 84.00 85.00 0.99 29.15 28.35 29.11 -0.14 9.00 8.00 8.78 0.55 143.99 143.80 143.90 0.90 65.03 63.41 64.57 0.92
Close 989.66 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 14714 144 6499 1055 42243 685 30890
Change 5.00 Market cap 32,982.47 mn Div Yield (%) 6.12
Last 60 days High Low 112.50 93.60 89.98 30.48 9.00 146.40 65.03
89.88 82.20 69.00 23.50 7.16 116.00 59.00
2010 Div BR (%) (%) 20 30
20B -
% Change 0.51 5-Day High 989.66 5-Day Low 979.88 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
63.76
Total Assets (Rs in mn)
MA (10-day)
3.28
Total Equity (Rs in mn)
MA (100-day)
3.05
Revenue (Rs in mn)
19,704.24 9,763.73 8,129.96
MA (200-day)
3.20
Interest Expense
1st Support
3.41
Loss after Taxation
1,230.81
2nd Support
3.16
EPS 09 (Rs)
1st Resistance
3.80
Book value / share (Rs)
2nd Resistance
3.94
PE 10 E (x)
Pivot
3.55
PBV (x)
(1,278.96) (0.974) 7.44 0.48
LPCL closed up 0.24 at 3.60. Volume was 384 per cent above average (trending) and Bollinger Bands were 2 per cent wider than normal. The company's loss after taxation stood at Rs1.045 billion which translates into a Loss Per Share of Rs0.80 for the nine months of current calendar year (9MCY10). LPCL is currently 12.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into LPCL (mildly bullish). Trend forecasting oscillators are currently bullish on LPCL.
PACE Pakistan Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
55.89
Total Assets (Rs in mn)
MA (10-day)
2.56
Total Equity (Rs in mn)
6,486.15
MA (100-day)
2.78
Revenue (Rs in mn)
1,649.34
MA (200-day)
3.55
Interest Expense
10,559.36
211.21
1st Support
2.50
Profit after Taxation
633.16
2nd Support
2.16
EPS 10 (Rs)
2.270
1st Resistance
3.04
Book value / share (Rs)
23.26
2nd Resistance
3.24
PE 11 E (x)
Pivot
2.70
PBV (x)
0.12
PACE closed up 0.47 at 2.84. Volume was 369 per cent above average (trending) and Bollinger Bands were 41 per cent wider than normal. The company's loss after taxation stood at Rs108.886 million which translates into a Loss Per Share of Rs0.39 for the 1st quarter of current fiscal year (1QFY11). PACE is currently 20.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of PACE at a relatively equal pace. Trend forecasting oscillators are currently bearish on PACE.
BOOK CLOSURES Company
From
To
Habib Sugar Mills Dawood Lawrencepur Lakson Tobacco Haseeb Waqas Sugar Mills Sanghar Sugar Mills Nagina Cotton Mills (TFC) Standard Chartered Bank Sindh Abadgar's Sugar Mills Shahtaj Sugar Mills Shashma Sugar Mills The Premier Sugar Mills Pangrio Sugar Mills Fecto Sugar Mills Thal Ind Corp Mirza Sugar Mills Baba Farid Sugar Mills Al-Noor Sugar Mills Shahmurad Sugar Mills Adam Sugar Mills Faran Sugar Mills
15-Jan 15-Jan 18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 19-Jan 20-Jan 21-Jan 21-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 23-Jan 23-Jan
29-Jan 21-Jan 25-Jan 25-Jan 31-Jan 25-Jan 01-Feb 28-Jan 01-Feb 30-Jan 30-Jan 31-Jan 29-Jan 28-Jan 31-Jan 29-Jan 02-Feb 02-Feb 31-Jan 30-Jan
D/B/R 25,25(B) 10 15 10 10 10 10 15 10 50 10 25 25
Spot AGM/Date 07-Jan 10-Jan 11-Jan 12-Jan 14-Jan 14-Jan 14-Jan 14-Jan 14-Jan 14-Jan 14-Jan
29-Jan 21-Jan 25-Jan 25-Jan 31-Jan 25-Jan 28-Jan 27-Jan 31-Jan 31-Jan 31-Jan 29-Jan 28-Jan 31-Jan 29-Jan 28-Jan 28-Jan 29-Jan 27-Jan
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Johnson & Philips Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Pak Tobacco Shifa Int.Hospitals Eye Television Media Times Ltd P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 8.1 55 3.37 91.85 136.01 111.56 32 22.32 39.02 2.5 48.99 2.37 22.49
High 9.1 55.75 3.5 90.21 142.81 116.95 33 22.5 39.99 2.55 48.99 2.9 23.61
Low Close 9.1 54.75 3.31 88.1 133.75 111.02 32 21.54 37.07 2.46 47.56 2.36 23.4
9.1 55 3.41 90.21 142.81 116.34 32.01 21.56 37.16 2.54 48.36 2.84 23.61
Change 1 0 0.04 -1.64 6.8 4.78 0.01 -0.76 -1.86 0.04 -0.63 0.47 1.12
Vol 500 4735 2241066 10308 120567 2713 1620 2818 493 190696 939 4235781 150499
7
Saturday, January 15, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,137.75 Turnover 4,698,280 P/E (x) 6.21 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,163.45 1,135.19 Total cos Defaulter cos P/BV (x) ROE (%) 0.80 12.84
PE
Open
High
Low
Close Chg
78 4.94 37740 12.97 3000 0.68 8606 6175 -
82.20 19.30 2.19 2.68 3.49
81.00 19.65 2.30 2.90 3.60
80.02 19.30 2.17 2.62 3.42
80.03 19.46 2.28 2.86 3.55
-2.17 0.16 0.09 0.18 0.06
Close 1,151.87 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 226 2753972 352315 1591767 153913
Change 14.11 Market cap 78,601.03 mn Div Yield (%) 10.07
106.00 20.12 2.69 3.45 4.25
76.50 18.21 2.12 2.40 3.35
% Change 1.24 5-Day High 1,151.87 5-Day Low 1,127.55
2010 Div BR (%) (%) 80 17.5 1 -
2011 Div BR (%) (%)
-
-
Atlas Insurance Central Insurance XB Century Insurance Crescent Star Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Shaheen Insurance Silver Star Insurance
369 6.25 279 9.14 457 6.99 121 1250 400 3.55 718 17.16 791 15.32 3000 47.49 250 1.96 350 303 6.55 200 253 4.44
-
Paid up Cap(mn)
Close 1,382.88 Listed cap 95,369.29 mn Payout (%) 104.13
Change 11.85 Market cap 112,989.85 mn Div Yield (%) 6.85
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Hub Power 11572 7.30 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 10.63 Kohinoor Power 126 2.63 Kot Addu Power 8803 5.45 Nishat Chunian Power Ltd 3673 3.89 Nishat Power Ltd 3541 29.13 Sitara Energy Ltd 191 3.59 Southern Electric 1367 -
39.49 1.64 3.07 18.23 4.45 45.25 17.20 17.70 19.24 2.24
40.05 1.78 3.20 19.20 4.80 45.40 18.01 18.70 19.25 2.33
39.40 1.63 3.05 18.72 4.30 44.38 17.20 17.51 19.01 2.21
39.86 0.37 1.71 0.07 3.09 0.02 19.13 0.90 4.31 -0.14 44.88 -0.37 17.76 0.56 18.06 0.36 19.25 0.01 2.25 0.01
2501631 171518 976274 25415 79485 1391429 6091984 5496935 1492 388062
40.05 2.25 3.55 25.25 5.50 45.85 18.01 18.70 21.85 2.80
Company
33.15 1.40 2.04 17.95 4.01 38.35 11.60 12.81 17.98 2.05
% Change 0.86 5-Day High 1,382.88 5-Day Low 1,349.02
2010 Div BR (%) (%) 50 15 50 20 -
-
-
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,543.24 Turnover 445,004 P/E (x) 9.79 Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 8390
8.01 3.30
Open
High Low 1,570.58 1,528.62 Total cos Defaulter cos P/BV (x) ROE (%) 1.12 11.41
High
26.94 21.68
27.48 22.00
Low 26.66 21.50
Close Chg 26.90 -0.04 21.90 0.22
Close 1,548.85 Listed cap 12,202.80 mn Payout (%) 66.79
Change 5.61 Market cap 32,981.72 mn Div Yield (%) 6.82
Last 60 days High Low
Volume 159865 285139
34.75 29.70
25.71 19.95
% Change 0.36 5-Day High 1,555.52 5-Day Low 1,543.24
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,242.05 Turnover 43,075,641 P/E (x) 8.75 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 7.09 Askari Bank 6427 8.84 Bank Alfalah 13492 14.55 Bank AL-Habib 7322 8.10 Bank Of Khyber 5004 5.60 Bank Of Punjab 5288 BankIslami Pak 52801087.50 Faysal Bank 7309 4.89 Habib Bank Ltd 10019 7.91 Habib Metropolitan Bank 8732 8.56 JS Bank Ltd 8150 KASB Bank Ltd 9509 MCB Bank Ltd 7602 10.79 Meezan Bank 6983 10.33 Mybank Ltd 5304 National Bank 13455 6.83 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Stand Chart Bank 38716 13.17 Summit Bank Ltd 5000 United Bank Ltd 12242 8.12
72.44 17.64 11.02 38.55 4.11 9.30 4.08 14.85 127.60 27.75 2.56 2.53 248.46 18.98 2.73 79.24 3.02 2.00 2.75 7.11 8.49 3.83 69.10
High
High Low Close 1,261.24 1,218.54 1,233.03 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.22 13.94 40.49 Low
Close Chg
74.00 71.52 72.99 0.55 18.60 17.70 18.56 0.92 11.51 11.06 11.35 0.33 38.83 37.41 37.59 -0.96 4.20 4.10 4.20 0.09 9.55 9.30 9.42 0.12 4.46 4.00 4.35 0.27 15.30 14.60 15.15 0.30 128.48 126.45 126.70 -0.90 28.28 27.50 27.99 0.24 2.65 2.51 2.63 0.07 2.60 2.46 2.46 -0.07 250.25 242.10 243.35 -5.11 19.74 18.85 19.52 0.54 3.02 2.84 3.00 0.27 80.61 77.05 78.15 -1.09 3.15 3.00 3.03 0.01 2.03 1.91 2.01 0.01 2.81 2.75 2.79 0.04 7.44 7.15 7.33 0.22 8.60 8.30 8.56 0.07 4.22 3.89 3.94 0.11 69.98 68.30 69.07 -0.03
Last 60 days High Low
Volume 614971 4876770 8724251 1045527 14180 3762803 913740 614810 278339 72962 98761 14002 1974180 425625 895729 12132483 1743393 32358 2177848 173715 7653 941423 2481541
Change -9.02 Market cap 744,169.72 mn Div Yield (%) 4.63
74.00 18.60 11.52 39.49 4.70 10.59 4.46 17.10 128.97 29.28 3.00 2.85 250.48 20.30 3.10 80.61 3.35 2.65 3.05 8.48 9.04 4.23 70.65
53.40 14.65 8.70 31.44 2.76 8.04 2.77 13.55 98.51 19.01 2.25 2.16 195.71 14.50 1.90 63.53 2.59 1.51 2.50 5.80 6.15 2.70 52.15
% Change -0.73 5-Day High 1,242.05 5-Day Low 1,185.01
2010 Div BR (%) (%)
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 804.34 Turnover 4,336,614 P/E (x) 13.44 Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 27.51
Open 92.79
High 96.35
High Low 832.00 806.83 Total cos Defaulter cos P/BV (x) ROE (%) 0.70 5.20 Low 92.30
Close Chg 94.91 2.12
Close 822.03 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 3259563
Change 17.69 Market cap 49,344.14 mn Div Yield (%) 5.92
Last 60 days High Low 96.35
66.50
% Change 2.20 5-Day High 822.03 5-Day Low 791.75
2010 Div BR (%) (%) 10
Paid up Cap(mn)
Company EFU Life Assurance
2011 Div BR (%) (%)
-
-
-
-0.46 0.90 0.37 0.96 2.00 0.19 -0.01 -0.65 1.00 0.97 -0.79 0.07 0.47 -0.04
7401 10601 36311 501 407164 9351 26272 9552 537060 502 1155 24205 375 6500
40.00 83.00 12.00 5.85 48.63 15.50 99.88 60.90 18.52 8.50 10.75 12.93 14.53 8.17
30.75 50.00 9.65 3.10 39.48 10.31 77.60 53.11 14.00 5.56 2.10 8.33 11.65 6.01
10 10 -
10B 20B -
-
UP TO 100 VOLUME
-
Symbols AGIC CPMFI FANM FHBM FNBM SRSM TSPL SING GRAYS ILTM PHDL HAJT MTIL RMPL BAWS ULEVER CWSM AGSML LATM PMRS GUTM DMTM MOON ADMM FPRM IDYM BROT DFSM HMIM LAKST CRTM COTT DWTM FECS TSMF BAFS SIEM KOHS LEUL SCLL SNAI ATLH PTEC AASM FCONM FZTM GENP MEHT QUET SASML SLCL AABS ALICO ALQT BILF BWHL GATM GRYL GSPM HAL ICCT KML LIBM NAGC NJLIC PGCL PRET PSEL SALT SJTM SSML TREI UVIC
High Low 878.15 856.31 Total cos Defaulter cos P/BV (x) ROE (%) 3.70 3.85
Close 872.11 Listed cap 2,290.72 mn Payout (%) 355.53
Change 23.51 Market cap 9,900.92 mn Div Yield (%) 3.70
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
850 42.61
72.50
75.75
73.00
74.99 2.49
144147
86.95
% Change 2.77 5-Day High 872.11 5-Day Low 829.67
2010 Div BR (%) (%)
62.75
-
2011 Div BR (%) (%)
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 406.36 Turnover 15,959,921 P/E (x) 11.05
High Low 434.60 404.46 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91
Close 428.28 Listed cap 30,336.44 mn Payout (%) 99.56
Change 21.92 Market cap 18,868.63 mn Div Yield (%) 3.35
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
225
1.50
0.62
0.90
0.56
0.66 0.04
41426
0.95
0.33
-
-
-
-
Arif Habib Investments Arif Habib Limited
360 3.62 450 13.89
17.82 26.13
18.50 27.39
17.90 26.37
18.39 0.57 27.22 1.09
50822 216121
19.98 28.95
16.00 24.40
-
20B 20B
-
-
5.25 1.10
27.19 1.48
28.54 1.89
27.11 1.20
28.54 1.35 1.23 -0.25
10331160 1006
28.54 2.14
22.10 1.10
30 -
-
-
-
-
2.06
2.24
2.00
2.24 0.18
12604
2.75
1.28
-
-
-
-
2121 18.13
2.86
2.90
2.80
2.90 0.04
10004
3.90
1.50
-
-
-
-
6.16 0.53
Company
Arif Habib Corp 3750 Dawood Cap Mangt. XB 150 Dawood Equities
250
IGI Investment Bank Invest and Fin Sec Invest Bank
600 733.00 2849 -
7.17 0.69
7.38 1.09
6.62 0.66
7.33 0.16 0.80 0.11 3.20 0.17
Last 60 days High Low
% Change 5.40 5-Day High 428.28 5-Day Low 398.11
AMZ Ventures
Volume
7599 130564
8.79 1.09
Ist Cap Securities
3166
3.03
3.45
3.00
Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap
626 7633 508 500
0.64 7.73
1.84 11.12 3.94 27.40
1.96 12.00 4.19 28.77
1.78 11.12 4.00 28.08
1.80 11.95 4.14 28.77
-0.04 0.83 0.20 1.37
26301 12834428 686118 15782
JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Saudi Pak Leasing Trust Brokerage Trust Inv Bank
1000 29.88 1000 821 4.57 775 452 100 586 2.67
6.78 4.79 6.19 1.98 0.68 2.42 1.99
7.28 4.95 6.23 2.10 0.75 2.49 1.72
6.80 4.70 6.10 1.85 0.60 1.42 1.71
7.17 4.78 6.21 1.97 0.74 2.49 1.71
0.39 -0.01 0.02 -0.01 0.06 0.07 -0.28
868817 5511 1614 808442 18080 1900 2800
2010 Div BR (%) (%)
2011 Div BR (%) (%)
4.80
2.95
11.5 -
10B
-
-
2.40 14.05 5.38 32.37
1.05 9.13 2.16 24.76
10 -
-
-
-
7.59 5.43 7.29 2.70 0.97 3.75 2.98
5.63 3.61 4.70 1.61 0.46 1.42 1.24
-
-
-
-
219974
-
-
-
EQUITY INVESTMENT INSTRUMENTS
2011 Div BR (%) (%)
20 - 20B - 66R 55 -63.46R 10 -
39.29 80.40 11.18 4.87 43.86 14.89 92.49 56.84 18.52 8.29 9.80 12.12 12.97 7.15
LIFE INSURANCE
2011 Div BR (%) (%)
7.8R -
39.01 79.98 11.07 4.05 41.91 14.70 92.00 56.51 18.52 7.35 9.80 12.05 12.90 7.06
Open 848.60 Turnover 144,149 P/E (x) 5.80
ELECTRICITY High Low 1,395.89 1,364.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.42 9.35
40.00 83.00 11.40 4.87 43.95 15.50 93.75 58.00 18.52 8.29 9.99 12.50 13.00 7.15
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,371.03 Turnover 17,124,327 P/E (x) 15.20
39.75 79.50 10.81 3.91 41.86 14.70 92.50 57.49 17.52 7.32 10.59 12.05 12.50 7.19
Performance of SR Equity Investment Instruments Index Open 1,359.42 Turnover 3,007,346 P/E (x) 19.17 Paid up Cap(mn)
Company
High Low 1,407.54 1,339.70 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 2.21
PE
Open
High
Low
9.00 7.55 3.64 1.40 12.75 0.72 2.24 6.03 71.50 19.14 1.25 7.50 18.50 5.47 5.50 2.18 9.28 7.67 2.39 4.67 3.56 1.68
1.60 8.78 1.71 0.60 2.04 2.15 3.09 7.02 5.56 5.20 1.82 7.75 1.92 3.50 1.10 7.15 13.65 6.40 1.03 1.25 9.51 1.77 6.15
1.63 9.12 1.75 0.70 2.10 2.39 3.17 7.00 5.85 5.44 2.15 7.85 2.25 3.50 1.10 7.50 14.60 6.80 1.20 1.70 9.52 1.86 6.15
1.37 8.61 1.52 0.48 1.91 2.01 3.10 6.98 5.55 5.10 1.55 7.60 1.85 3.50 1.10 7.05 13.61 6.00 1.05 1.28 9.52 1.85 5.90
Close 1,391.13 Listed cap 29,771.58 mn Payout (%) 104.74
Change 31.72 Market cap 18,305.52 mn Div Yield (%) 8.49
Close Chg
Volume
Last 60 days High Low
1.44 9.06 1.60 0.56 2.04 2.29 3.13 7.00 5.72 5.36 1.70 7.80 1.85 3.50 1.10 7.50 14.48 6.75 1.05 1.40 9.52 1.85 5.93
2046 269877 2025 30503 183501 141 21710 11500 489112 285905 2507 83176 11006 10101 1000 187402 1073995 295799 25498 1237 2947 1530 14400
2.00 9.15 2.79 1.10 2.37 2.39 3.80 7.10 5.89 5.44 2.24 8.25 2.50 4.24 2.00 7.50 14.60 6.80 1.20 2.54 10.29 3.00 6.69
% Change 2.33 5-Day High 1,391.13 5-Day Low 1,338.84
2010 Div BR (%) (%) 18.5 0 1.2 17 21 5 10 2.8 15.5 15 3 10 20 10 3 1 17 5 12.5
2011 Div BR (%) (%)
264 1375 780 200 524 581 760 1008 3180 1186 283 1200 184 1000 125 1000 2835 2841 872 340 454 298 264
-0.16 0.28 -0.11 -0.04 0.00 0.14 0.04 -0.02 0.16 0.16 -0.12 0.05 -0.07 0.00 0.00 0.35 0.83 0.35 0.02 0.15 0.01 0.08 -0.22
1.18 6.05 0.90 0.16 1.05 1.30 2.56 5.80 2.65 2.31 1.26 5.15 0.56 2.40 0.46 5.00 7.90 3.52 0.81 0.50 8.50 1.15 4.71
-
-
-
10.66 4.15 3.05 7.98 6.70 2.50 0.99 20.15 49.00 166.00 33.91 0.50 0.60 2062.00 5.01 4439.50 1.40 5.50 7.90 44.50 18.76 5.10 12.01 23.53 8.80 216.57 0.51 3.80 0.87 293.49 20.30 1.24 9.00 38.95 1.29 60.50 1212.41 3.80 1.90 2.26 46.88 135.00 2.23 31.77 1.47 405.00 0.88 65.00 43.99 11.00 1.50 98.50 18.25 6.50 1.00 33.00 30.11 1.76 7.48 12.22 1.14 2.12 65.75 16.49 42.90 25.19 28.03 177.89 65.90 1.53 2.48 1.95 3.04
High 10.60 4.15 3.20 8.24 6.88 2.80 1.31 20.00 50.00 157.70 35.60 0.65 0.75 2159.00 5.69 4599.99 1.68 6.50 8.00 45.99 19.76 6.09 11.05 24.50 8.81 227.39 0.49 4.79 1.04 300.00 21.25 1.35 9.00 37.01 1.25 60.50 1210.00 4.75 1.52 2.70 48.00 136.00 2.47 32.69 1.98 425.25 0.98 68.25 46.18 11.10 2.49 97.75 18.39 5.61 1.00 33.00 31.61 1.01 7.55 12.38 0.83 2.64 68.75 16.48 43.60 26.39 29.20 179.99 69.19 2.53 2.40 1.95 3.49
Low
Close
10.60 4.15 3.20 8.00 6.88 2.80 1.24 20.00 49.00 157.70 32.22 0.65 0.75 2040.01 5.68 4251.01 1.30 4.56 8.00 45.00 18.00 6.09 11.01 23.05 8.81 206.20 0.33 4.00 0.80 279.01 19.51 1.34 9.00 37.01 1.25 60.45 1206.50 3.11 1.52 2.70 48.00 133.50 2.21 30.26 1.50 404.00 0.90 66.00 46.18 11.10 1.75 97.75 18.39 5.61 1.00 33.00 31.61 0.87 7.55 12.38 0.83 2.64 68.75 16.48 43.60 26.39 29.20 179.99 69.19 2.53 2.40 1.95 3.49
10.60 4.15 3.20 8.00 6.88 2.80 1.24 20.00 49.00 157.70 35.60 0.65 0.75 2128.29 5.69 4400.22 1.68 4.56 8.00 45.00 18.88 6.09 11.05 23.41 8.81 207.45 0.48 4.00 1.04 282.51 19.51 1.35 9.00 37.01 1.25 60.45 1210.00 3.80 1.52 2.70 48.00 133.50 2.40 30.26 1.50 404.00 0.98 66.00 46.18 11.10 1.75 97.75 18.39 5.61 1.00 33.00 31.61 1.01 7.55 12.38 0.83 2.64 68.75 16.48 43.60 26.39 29.20 179.99 69.19 2.53 2.40 1.95 3.49
Change
Vol
-0.06 0.00 0.15 0.02 0.18 0.30 0.25 -0.15 0.00 -8.30 1.69 0.15 0.15 66.29 0.68 -39.28 0.28 -0.94 0.10 0.50 0.12 0.99 -0.96 -0.12 0.01 -9.12 -0.03 0.20 0.17 -10.98 -0.79 0.11 0.00 -1.94 -0.04 -0.05 -2.41 0.00 -0.38 0.44 1.12 -1.50 0.17 -1.51 0.03 -1.00 0.10 1.00 2.19 0.10 0.25 -0.75 0.14 -0.89 0.00 0.00 1.50 -0.75 0.07 0.16 -0.31 0.52 3.00 -0.01 0.70 1.20 1.17 2.10 3.29 1.00 -0.08 0.00 0.45
100 100 100 100 100 100 100 95 87 70 54 50 50 46 44 43 41 36 25 22 21 20 20 16 16 16 13 12 12 12 11 10 10 10 10 9 9 5 5 5 5 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
FUTURE CONTRACTS Symbols
Open
FFBL-JAN
39.34
41.30
39.25
41.21
1.87 2824500
ENGRO-JAN 210.23
220.74
211.00
220.74
10.51 1756000
80.80
77.50
78.61
-1.08 1454000
31.43
0.22 1232500
NBP-JAN DGKC-JAN
1st Fid Leasing AL-Meezan Mutual F. B R R Guardian Mod. Crescent St Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali NAMCO Balanced Fund Pak Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba Trust Modaraba U D L Modaraba
Open
ANL-JAN
79.69 31.21
32.05
Low
30.81
Vol
10.65
0.95 1212500
69.65
71.69
69.65
70.96
1.31
815000
138.22
145.13
138.90
145.09
6.87
736500
POL-JAN
333.33
335.95
330.85
333.76
0.43
685500
PSO-JAN
298.97
310.90
300.00
307.98
9.01
415500
LUCK-JAN
76.50
77.70
76.00
77.37
0.87
272500
MCB-JAN
248.56
250.00
243.25
244.56
-4.00
246500
AICL-JAN
93.08
97.00
92.99
95.44
2.36
245500
PPL-JAN
224.01
226.48
223.10
224.80
0.79
168000
UBL-JAN
69.39
70.05
68.70
69.24
-0.15
134000
0.10
74000
19.40
9.74
Change
FFC-JAN
BOP-JAN
10.70
Close
NML-JAN
PTC-JAN
9.70
High
19.80
19.50
19.50
9.47
9.60
9.25
9.50
0.03
174.62
175.40
173.20
173.84
-0.78
20500
NCL-JAN
23.50
24.67
23.50
24.30
0.80
18000
HUBC-JAN
39.27
39.27
39.27
39.27
0.00
12000
NETSOL-JAN 22.44
23.56
23.56
23.56
1.12
2500
0.00
0.00
96.75
2.12
OGDC-JAN
AICL-CFEB
94.63
42000
0.00
ZERO VOLUME Symbols BFMOD
Open
High
Low
Close
Change
Vol
4.00
3.99
3.99
3.99
-0.01
0.00
DADX
20.02
21.02
21.02
21.02
1.00
0.00
FNEL
8.44
8.00
8.00
8.00
-0.44
0.00
FTSM
1.73
1.70
1.70
1.70
-0.03
0.00
32.50
32.50
32.50
-0.35
ICL
32.85
0.00
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
National Bank of Pakistan
Dera Ghazi Khan Cement Co Ltd
Company
Date
Time
Olympia Spinning & Weaving Mills Ltd Shadman Cotton Mills Ltd Husein Industries Ltd Byco Petroleum Pakistan Ltd Shaheen Insurance Company Ltd Invest Capital Investment Bank Ltd Siemens (Pakistan) Engineering Company Ltd Pakistan Petroleum Ltd Fauji Fertiliser Bin Qasim Ltd Unilever Pakistan Limited Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd
15-Jan 15-Jan 15-Jan 17-Jan 17-Jan 19-Jan 23-Jan 24-Jan 25-Jan 14-Feb 16-Feb 17-Feb
10:00 6:30 3:00 3:00 10:00 11:00 3:30 10:00 10:30 2:30 12:30 2:30
TECHNICAL LEVELS Company
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
Fair Value
*Arif Habib Ltd
34.7
AKD Securities Ltd
32.06
76.68
Support 1
12,478.25
MA (5-day)
12,369.63
Support 2
12,422.95
MA (10-day)
12,266.12
Resistance 1
12,569.55
MA (100-day)
10,791.88
Resistance 2
12,605.55
Technical Analysis
MA (200-day)
10,430.60
Pivot
12,514.25
RSI (14-day) MA (10-day) MA (100-day)
KSE 100 INDEX closed up 74.10 points at 12,533.54. Volume was 197 per
Rs Recommendations
TFD Research
29.1
Brokerage House
Brokerage House
Sell
*Arif Habib Ltd
42
Buy
*Arif Habib Ltd
AKD Securities Ltd
43.29
Buy
AKD Securities Ltd
Negative
TFD Research
36.85
Positive
TFD Research
Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,414.29 ** NOI Rs (mn) 132.46 Mean 40.07
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
61.13 30.27 27.46 26.92
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
82.1
Buy
61.96
Neutral
92.3
Positive
Technical Outlook
Technical Outlook
Leverage Position
76.52 38.02 31.81 30.38
Rs Recommendations
Accumulate
Technical Outlook
cent above average (trending) and Bollinger Bands were 28 per cent wider MA (200-day) than normal. As far as resistance level is concern, the market will see
Fair Value
182.55 5,708.33 47.52 31.31
* Target price for Jun-11 & **Net Open Interest in future market
major 1st resistance level at 12,569.55 and 2nd resistance level at FFBL closed up 1.91 at 41.03. Volume was 744 per cent above average DGKC closed up 0.25 at 31.27. Volume was 293 per cent above average (trending) and Bollinger Bands were 67 per cent wider than normal. (trending) and Bollinger Bands were 47 per cent narrower than normal. KSE 100 INDEX is currently 20.2 per cent above its 200-day moving aver- FFBL is currently 35.1 per cent above its 200-day moving average and is DGKC is currently 16.2 per cent above its 200-day moving average and is age and is displaying an upward trend. Volatility is high as compared to the displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is low as compared to the average average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect modvolatility over the last 10 trading sessions. Volume indicators reflect modreflect moderate flows of volume into INDEX (mildly bullish). Trend fore- erate flows of volume into FFBL (mildly bullish). Trend forecasting oscillacasting oscillators are currently bullish on INDEX. Momentum oscillator is tors are currently bullish on FFBL. Momentum oscillator is currently indicat- erate flows of volume into DGKC (mildly bullish). Trend forecasting oscilla-
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
66.96 77.21 67.37 68.07
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.44 24,886.42 121.70 78.76
* Target price for Jun-11 & **Net Open Interest in future market
12,605.55, while Index will continue to find its 1st support level at
NBP closed down -1.09 at 78.15. Volume was 192 per cent above average
12,478.25 and 2nd support level at 12,422.95.
(trending) and Bollinger Bands were 50 per cent wider than normal.
currently indicating that INDEX is currently in an overbought condition.
Engro Corporation
Bank Al-Falah Ltd
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
Buy
*Arif Habib Ltd
AKD Securities Ltd
10.25
Accumulate
AKD Securities Ltd
TFD Research
14.01
Positive
TFD Research
*Arif Habib Ltd
13
61.55 11.06 9.40 9.74
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
674.58 7,656.46 N/A 11.24
* Target price for Jun-11 & **Net Open Interest in future market
Nishat Mills Ltd
Fair Value
Rs Recommendations
176
Sell
*Arif Habib Ltd
76.4
Buy
AKD Securities Ltd
238.8
Buy
AKD Securities Ltd
105.2
Buy
TFD Research
Neutral
TFD Research
72.75
Neutral
208.75
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
displaying an upward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NBP (mildly bullish). Trend forecasting oscillators are currently bullish on NBP.
Lucky Cement Ltd
Brokerage House
Technical Outlook
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
tors are currently bullish on DGKC.
ing that FFBL is currently in an overbought condition.
NBP is currently 14.8 per cent above its 200-day moving average and is
75.07 203.41 182.14 185.81
Rs Recommendations
Brokerage House
147.48 32,398.75 270.95 214.72
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
58.10 75.11 72.60 70.93
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
59.97
Buy
74.2
Neutral
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
129.35 9,969.00 20.70 76.58
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
76.63 67.50 53.72 51.84
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
175.80 12,450.15 85.25 70.47
* Target price for Jun-11 & **Net Open Interest in future market
BAFL closed up 0.33 at 11.35. Volume was 196 per cent above average ENGRO closed up 10.37 at 219.68. Volume was 411 per cent above average LUCK closed up 0.80 at 77.07. Volume was 421 per cent above average NML closed up 1.11 at 70.82. Volume was 90 per cent above average and (trending) and Bollinger Bands were 25 per cent narrower than normal.
(trending) and Bollinger Bands were 128 per cent wider than normal.
(trending) and Bollinger Bands were 27 per cent narrower than normal.
ENGRO is currently 18.2 per cent above its 200-day moving average and LUCK is currently 8.7 per cent above its 200-day moving average and is is displaying an upward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is relatively normal as compared to to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into ENGRO (mildly bullish). Trend forestrong flows of volume into BAFL (bullish). Trend forecasting oscillators are casting oscillators are currently bullish on ENGRO. Momentum oscillator is reflect moderate flows of volume into LUCK (mildly bullish). Trend forecastBAFL is currently 16.5 per cent above 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
currently bullish on BAFL.
currently indicating that ENGRO is currently in an overbought condition.
ing oscillators are currently bearish on LUCK.
Bollinger Bands were 49 per cent wider than normal. NML is currently 36.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into NML (bullish). Trend forecasting oscillators are currently bullish on NML. Momentum oscillator is currently indicating that NML is currently in an overbought condition.
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 46.38 3.05 2.90 73.23 71.70 70.35 45.74 61.80 61.35 71.12 27.60 26.65 59.68 26.60 25.95 72.50 92.70 90.45 70.97 18.00 17.40 62.43 9.95 9.25 83.96 377.40 369.25 74.79 138.70 135.05 61.55 11.10 10.85 75.14 4.10 3.80 44.85 9.30 9.15 46.75 2.05 2.00 61.13 30.70 30.15 54.66 3.00 2.90 33.33 2.50 2.45 52.72 42.55 41.20 50.62 73.40 71.85 75.07 213.25 206.85 52.82 14.75 14.30 51.83 5.00 4.95 76.52 39.70 38.40 86.50 139.85 135.20 65.66 125.95 125.20 77.45 39.50 39.10 70.24 153.75 152.70 82.81 286.40 277.75 56.69 4.05 3.90 49.86 1.65 1.55 54.80 2.55 2.45 44.21 11.40 10.80 75.54 44.40 43.85 60.76 3.00 2.95 77.23 15.25 14.95 58.10 75.90 74.75 70.67 240.20 237.10 40.18 2.75 2.70 66.96 76.60 75.05 65.08 23.75 23.00 87.26 23.45 23.35 53.86 2.95 2.90 53.60 1.90 1.85 76.63 69.80 68.75 55.59 172.10 170.95 55.89 2.50 2.15 39.27 1.85 1.70 61.74 2.45 2.40 58.58 7.05 6.95 83.01 330.70 328.05 65.20 222.60 221.45 54.76 71.00 70.00 71.97 300.25 294.25 53.23 19.30 19.10 64.15 207.35 203.20 43.53 26.55 26.20 61.77 13.50 13.00 52.65 21.60 21.30 53.39 2.20 2.10 40.21 3.30 3.20 66.37 68.25 67.45 54.47 2.70 2.50
1st
2nd
Resistance 3.35 3.60 74.15 75.30 62.90 63.55 29.00 29.50 27.60 28.00 96.75 98.55 18.90 19.20 11.00 11.35 396.30 407.05 145.00 147.60 11.55 11.75 4.55 4.75 9.55 9.65 2.15 2.20 31.95 32.65 3.20 3.35 2.60 2.65 44.55 45.30 76.15 77.35 222.90 226.15 15.45 15.70 5.10 5.15 41.70 42.40 146.85 149.20 127.95 129.25 40.15 40.40 156.15 157.50 300.20 305.45 4.20 4.30 1.80 1.85 2.70 2.75 12.25 12.55 45.40 45.90 3.15 3.25 15.80 16.05 77.85 78.60 248.35 253.40 2.85 2.90 80.15 82.15 25.00 25.50 23.70 23.75 3.10 3.20 2.05 2.10 71.75 72.70 175.15 177.05 3.05 3.25 2.10 2.20 2.55 2.60 7.25 7.35 335.80 338.25 225.25 226.85 73.00 74.00 310.75 315.35 19.65 19.80 215.35 219.20 27.35 27.85 14.35 14.70 22.10 22.30 2.35 2.40 3.50 3.60 69.95 70.80 2.95 3.05
Pivot 3.25 72.85 62.45 28.05 27.00 94.50 18.30 10.30 388.15 141.30 11.30 4.25 9.40 2.10 31.40 3.10 2.55 43.25 74.60 216.50 15.00 5.05 40.40 142.20 127.20 39.75 155.10 291.60 4.10 1.70 2.60 11.70 44.90 3.10 15.50 76.70 245.25 2.80 78.60 24.25 23.55 3.05 1.95 70.75 174.00 2.70 1.95 2.50 7.15 333.15 224.15 72.00 304.80 19.45 211.20 27.00 13.85 21.80 2.25 3.40 69.10 2.80
8
Saturday, January 15, 2011
Gowariker bags award for KHJJS
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MUMBAI: Shahrukh Khan poses with actresses Vidya Balan and Anushka Sharma during the 'Apsara Awards 2011' ceremony in Mumbai.-Reuters
Imran marries Avantika
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ollywood's chocolate boy Imran Khan finally bid adieu to bachelorhood and married long time girlfriend Avantika Malik Monday. He said he is very happy. The couple is off to Thailand Tuesday for their honeymoon but not alone - 50 guests will be accompanying the newlyweds. Imran, who had been dating Avantika for the past eight years, had a registered marriage at his superstar uncle Aamir Khan's house in Pali Hill. After the wedding, Imran came to his house with his newlywed wife in a black Porsche decorated with white flags with "Just Married" writ-
ten on them. The house was decorated with flowers and lights. Both wore beautiful traditional wedding costumes Avantika was wearing a light grey lehenga choli with a red border and gold work and Imran was dressed in a black bandhgala. "I'm not feeling married right now, it will take some time to sink in. I'm very happy" Imran told reporters after reaching home. Asked how he felt after breaking the hearts of his female fans, the 27-year-old said: "I've been in a relationship for the past eight years so the point of breaking hearts doesn't arise. Everyone always knew that I'm dating and was never single, so getting married is noth-
ing new." Imran's maternal uncle, Aamir was dressed in black sherwani with self-print and a maroon churidar and his wife Kiran Rao went traditional too, donning a purple-gold lehenga choli. "We are very happy for both of them and all our blessing are with them. I hope they have a happy married life and have lots of kids," said a visibly elated Aamir. The actor will be hosting a grand reception once the couple returns from their honeymoon. The date has not been fixed, but it is scheduled for the end of this month. After the wedding, the couple hosted a quiet dinner for close family and friends at Taj Lands End Hotel.
All is well between Shahrukh & Shahid
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he industry was abuzz with reports of Shahrukh Khan being miffed with Shahid Kapoor. But reality seems to be different. SRK and Shahid went together to South Africa in the same jet along with Priyanka Chopra and Malaika Arora Khan. Obviously, all is good between them. They even performed for the South African government as part of com-
memoration of 150 years of Indians in South Africa. A close hand reveals, "Even a few days back, Shahid came to the rehearsals for Screen Awards which he was co-hosting with SRK, a day late as his flight from Chandigarh was cancelled due to bad weather. So he drove from Chandigarh to Delhi in the fog and flew from Delhi to Mumbai. But he was delayed because of this." Our source further adds, "To
add to his woes, he had two acts to practice as well as rehearse the hosting. So SRK was nice enough to suggest to him to concentrate on his acts and he would take over the hosting main portions. In fact, Shahid is really grateful to Shahrukh for his warm gesture." The SRK-Shahid combo last year received a very favourable response at the Screen Awards.
fter mesmerising Indian and international audiences with his epic films and winning numerous awards worldwide, Ashutosh Gowariker won the Best Patriotic Film Director for his film Khelein Hum Jee Jaan Sey at the 17th Lions Club Awards held here. Khelein Hum Jee Jaan Sey was director Ashutosh Gowariker's first period thriller and is based on the book 'Do or Die' by Manini Chatterjee which centres on the Chittagong Uprising of the 1930s.
Veena isn’t my type: Ashmit
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ctors Ashmit Patel and Veena Malik may have exchanged I love yous, body massages and intimate moments on the reality TV show, Bigg Boss, but barely a week after the finale of the show, Patel claims there’s no romance between him and the Pakistani actor. “Veena is not my type. I have spent three months with her, and that’s enough time to know how well you gel with a person, and whether you can have a long-term thing with them. She said ‘I love you’ to me on the show, but I never said it back. There is nothing from my side,” he says. Bollywood actress Ameesha Patel threw a lavish birthday party for Ashmit Patel, which was attended by all his Bigg Boss 4 friends. After patching up with her brother Ashmit and parents Amit and Asha Patel last year, she and her parents threw a birthday party for her sibling last night in Mumbai. "Ameesha and her family are very happy that Ashmit reached the finals of Bigg Boss 4. For them, he's already a winner. The family decided to throw a big birthday party for him at Veda.
Dabangg the highest scorer at Apsara
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he star-studded night at Chevrolet Apsara Awards 2011 powered by Micromax Mobile and telecom partner Aircel, brought the biggest stars of the Indian Entertainment industry under one roof. This eventful night saw the kings and queens of the Indian Film Industry along with Television sirens and charmers walk the red carpet in their most glamorous avatar. Spirits were high as the audience cheered on Priyanka Chopra’s sizzling performance on Bollywood’s hit songs, Govinda’s tribute performance on veteran actor Dharmendra and the King Khan’s grand finale performance. Also seen was Katrina Kaif burning up the dance floor for the first time on ‘Sheila Ki Jawaani’ which also won two awards for Best Choreography (Farah Khan) and Best Female Singer (Sunidhi Chauhan). Vidya Balan for Ishqiya shared the award for Best Actress in a Leading Role with Anushka Sharma who danced on her chartbuster number ‘Ainvayi Ainvayi’ from the movie Band Bajaa Baraat which also bagged 3 awards for Best Costume Design (Niharika Khan), Best Art Director (T.P.Abid & Sonal Choudhry) and Best Editing (Namrata Rao).
Higest scorer Dabangg which swept seven awards for Best Actor (Salman Khan), Best Film (Arbaaz Khan Productions), Best Music (Sajid Wajid), Best Male Singer (Rahat Fateh Ali Khan for Tere Mast mast do nain), Best Female Singer (Mamta Sharma for Munni Badnaam Hui), Best Performance in Negative Role (Sonu Sood). Small budget movies like Peepli Live won the award for Best Story (Anusha Rizvi), Atithi Tum Kab Jaoge? won the award for Best Performance in a Comic Role (Paresh Rawal) and Love Sex Aur Dhokha won the award for Best Sound Recording (Pritam Das). Best Non Fiction Series in the television category was won by Entertainment ke Liye Kuch Bhi Karega and for Best Drama Series Fiction was won by Mann Ki Awaaz Pratigya. Silver screen favourites Dilip Joshi (Taarak Mehta Ka Ooltah Chashmah won the award for Best Actor in Drama Series) and Ankita Lokhande (Pavitra Rishta) won the award for Best Actress in Drama Series. Balika Vadhu won the award for the Best Writer (Purnendu Shekhar, Gajra Kottary & Rajesh Dubey-Balika Vadhu) and Uttaran won the award for Best Ensemble Cast.
Priety turns TV host for a reality show
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impled beauty Preity Zinta will reportedly host the Indian version of Guinness Book Of World Records. According to the Mumbai Mirror, the show will go on air in April on the small screen; auditions are expected to start shortly. Since her 2008 appearance in Heroes, Preity has made only cameo appearances in mainstream Bollywood, preferring to concentrate on art films and her IPL team, King's XI Punjab, which she co-owns with former beau Ness Wadia. Preity will be next seen in a
Lara wants both Salman & SRK on her wedding!
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ollywood star Lara Dutta and Indian tennis star Mahesh Bhupathi are tying the knot in Goa on 19th February in a very simple Victorian-style ceremony. The duo has already sent out their wedding invitation cards to the friends and relatives. Interestingly, Lara has invited both Salman Khan and Shah Rukh Khan for her wedding. We all know that both the Khans cannot stand each other and they try to avoid crossing each other. However, it will be very tough situation for both of them to avoid Lara's invitation because she has been close to both of them. Now, it will be interesting to see how the duo handles the awkward situation when they come face to face on LaraMahesh wedding. It may also happen that one of them give it a miss! Lara's wedding venue is being decorated in a Victorian style as she is a Catholic and prefers simplicity. Everything has been kept sober but the presence of two Khans may turn it hotter. Other guests from the Bollywood include the names of Bipasha Basu, Akshaye Khanna and Kareena Kapoor. The Entertainment Design Company (EDC) has designed the invitation card of their wedding as well as for Sangeet, which will take place on February 18. The same company also designed wedding card of Aishwarya Rai Bachchan and Abhishek Bachchan. We hope, Salman and Shah Rukh also start a new relationship by attending this wedding together.
NOKJ grosses 220mn on opening weekend
cameo appearance in Yash Raj he much awaited film Film's Mere Brother Ki Dulhan released at the start of headlining Imran Khan and the year 2011, No One Katrina Kaif. Killed Jessica, had a fantastic opening weekend grossing Rs 190 million at the domestic box office and Rs 30 million in the overseas market. The film broke all records for any film released during the first week of a new year so far. he dimpled star of yesIn the international markets, teryears Shashi Kapoor the film has broken all trade he new management at is battling for life at norms for a female lead, issue MGM, along with Bond Kokilaben Ambani Hospital at based film. In the UK, the producers Michael G Andheri in Mumbai. weekend gross is USD Wilson and Barbara Broccoli, Hospital sources reported 130,787; in the Gulf it grossed Tuesday that the 23rd film in that the actor is struggling with USD 183,044, taking the per the spy franchise will arrive in age-related ailments. He was screen average to more than theaters Nov. 9, 2012. admitted to the hospital on Dec USD 9000; in the US the That will mark a four-year 12, 2010. weekend gross is USD hiatus for Bond since his last Earlier on Dec 26, Amitabh 235,000. Including other terriadventure, 2008's "Quantum of Bachchan had visited him and tories like Australia, South Solace." The franchise had spent more than half an hour. Africa, Pakistan, Singapore been on hold amid MGM's Both actors have made and other territories the total financial troubles, with the remarkable movies like overseas weekend gross is Rs. company now trying to start Deewar, Trishul, Imaan who stole hearts of cinegoers 30 million. over after filing for bankruptcy Dharam and Suhaag during with his stellar performance in Directed by Rajkumar Gupta protection and restructuring Jab Jab Phool Khile and MUMBAI: Indian Bollywood actor Ashmit Patel celebrates his 33th birthday, with 1970s. and produced by UTV last November. Shashi Kapoor is the star Satyam Shivam Sundaram. Pakistani actress Veena Malik , ister Amisha Patel, Sara Khan, and guests.-Reuters Spotboy, the film received a rave response from critics applauding Rani Mukherjee and Vidya Balan's performances, as a fiery and ambitious audiences who have been coming to media reporter and the underroadway's "Spider-Man: Turn so far and now has more than a month see 'Spider-Man: Turn Off The Dark' stated sibling of Jessica Lall Off the Dark" has already of them to go: "Nick and Nora" lasted and we are dedicated to giving them respectively. The contempobecome the most expensive only a week after finally opening offirary and cutting edge music in the very best show we can." show ever mounted on Broadway. cially. Once a show officially opens, it is the film from Amit Trivedi was The "Spider-Man" musical - the Soon it may reach another milestone: considered frozen and no more tin- another major highlight of the The show stuck in previews the dreamchild of "Lion King" director kering is allowed. The latest delay film, which stirred the audiJulie Taymor with music by U2's longest. was somewhat expected since a big, ences in advance of the release. Producers delayed the $65 million Bono and The Edge - hasn't been hurt "No One Killed Jessica is an spectacular finale still seemed show for the fifth time Thursday, at the box office by the raft of injuries, issue-based story which could absent. Audiences at previews were pushing the opening date to March 15 cancellations, the defection of a lead very easily have been slotted as also confused about the role of to fine-tune and put in a new ending. actress, in-show delays and postponeanother docu-drama, but our Arachne, Spider-Man's evil love strong belief, backed aggresLead producer Michael Cohl prom- ments. interest. The new opening delay doesn't realised this is "the final postponement." sive marketing, wide scale disBono and The Edge, both new- tribution and of course a The change means the show, when ly hurt the musical, whose costs easicomers to writing musicals, returned superbly entertaining film, it opens, will break what is considered ly dwarf Broadway's last costliest from touring this month to help fix have resulted in NOKJ emergthe record for most preview perform- show, the $25 million "Shrek the the show's problems. In a statement, ing both a creative and comances - 71 - held by Arthur Laurents' Musical." Though producers are almost each night, and last week the "Wicked." "Nick and Nora" in 1991. That may charging full-price for tickets, the webslinger tale took the week's boxsuccess", said In a statement, Taymor said: "We they said: "We are looking for the mercial not bode well for the comic book show is still selling out the 1,930-seat office crown from the Oz musical are so grateful for the enthusiastic extraordinary here and we are nearly Siddharth Roy Kapur, CEO, there." hero, which has enjoyed 37 previews Foxwoods Theatre in Times Square Motion Pictures- UTV.
Next James Bond film set for Nov 2012
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Shashi Kapoor in critical condition
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Delayed again, Spider-Man may set another record
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9
Saturday, January 15, 2011
European vegetable oil prices
NEW DELHI - INDIA: An Indian shopper buys onions from a vegetable seller in New Delhi. -Agencies
Sugar dips but hold above key support LONDON: ICE raw sugar futures fell rapidly on Friday before quickly regaining some ground with investor liquidation triggering automatic sell orders in choppy trading ahead of the long holiday weekend. Cocoa futures were slightly higher while arabica coffee suffered a mild setback after climbing to the highest levels in more than 13 years earlier in the week. March raw sugar futures on ICE slid to a low of 30.35 cents a lb, raising the prospect of a test of key support around the 30-cent level, before rebounding to 31.32 cents, still down 0.74 cents or 2.3 per cent on the day. Liffe March white sugar was down $7.00 or 0.9 per cent at $780.40 per tonne. Cocoa futures were higher with the market beginning to regain upward momentum after industry buying earlier in the week helped to halt the recent downward trend in prices. ICE March cocoa traded $43 or 1.5 per cent higher at $2,985 a tonne. Liffe May cocoa was up 20 pounds or 1.0 per cent to 1,984 pounds per tonne. ICE March arabicas fell 2.55 cents or 1.1 per cent to $2.3495 per lb. The front month contract had risen to the highest level since June 1997 on Wednesday. Robusta coffee futures on Liffe fell with March down $22 or 1.0 per cent at $2,115 per tonne, after hitting $2,185, the highest level for the benchmark second month since Sept. 2008, on Wednesday. -Reuters
Gold slides below $1,360/oz as dlr recovers LONDON: Gold fell more than 1 per cent on Friday as the dollar briefly turned positive versus the euro, extending losses made after China earlier raised lenders' reserve requirements and as a lack of haven demand weighed. The metal had pared losses as the dollar lost ground after US data showed a below-consensus rise in retail sales last month, but soon slipped lower. Solid bond sales by Portugal and Spain have cut haven buy-
ing of gold, analysts said. Spot gold was bid at $1,359.10 an ounce at 1610 GMT, against $1,372.75 late in New York on Thursday, having earlier hit a low of $1,356.50. US gold futures for February delivery fell $27.50 an ounce to $1,359.50. Gold prices rallied above $1,390 an ounce on Thursday, its highest this year, before turning lower to drop nearly 1 per cent on the day. It has since retreated further. "The rally we saw yesterday apparently drew out a few nervous longs who had been waiting for an opportunity to scale back positions," said Ole Hansen, senior manager at Saxo Bank. "It looks like attention (for now) has turned to other markets like stocks
and cyclicals." "The overall scenario has not changed but it looks like we are settling in for a bit of range trading here -$1,350/1,400 gold and $28/30 on silver," he added. "Stops are probably building up below those two levels, so they will be critical in the days ahead." Gold dropped after China's central bank raised lenders' required reserves for the fourth time in just over two
months on Friday, making good on its vow that inflation fighting will be a top priority for the year. Traders in Asia reported strong physical gold buying, particularly from China, on Friday, but large bullionbacked exchange-traded funds continued to see outflows. Holdings of the world's largest gold ETF, New York's SPDR Gold Trust, fell by more than 6 tonnes on Thursday and are down more than 15 tonnes so far this year. Among other precious metals, spot silver was bid at $28.44 an ounce against $28.67. Platinum was at $1,810.49 an ounce against $1,799.99, while palladium was at $791 against $803.75. -Reuters
Copper edges up but China demand eyed LONDON: Copper edged up Friday, bouncing off the day's lows as the dollar weakened and investors digested mixed data from the world's biggest economy, while concerns about Chinese demand kept sentiment in check. Three-month copper on the London Metal Exchange closed at $9,650 a tonne from $9,620 at Thursday's close. The metal used in power and construction hit a record high of $9,754 a tonne on Jan. 4. Copper was dented earlier by monetary tightening measures from China, but turned slightly positive as the dollar weakened after a slew of data, making metals cheaper for non-US investors. "I'm a bit cautious, some of these metals look a bit stretched at these levels," BNP Paribas analyst Stephen Briggs said. "Demand in the real economy is a little on the soft side at the moment." Among a mixed bag of data, US retail sales rose less than expected and rising gasoline prices beat down US consumer sentiment in early January. Other data showed underlying inflation remained calm and US industrial output rose more than expected
in December. On the supply side, operations were normal at Peruvian copper mine Cerro Verde after unionized workers reached a partial
Shanghai copper edges donw Shanghai's benchmark third-month futures contract closed down 0.2 per cent at 71,150 yuan ($10,769) a tonne, finishing the week up 2.4 per cent. accord with management before a planned strike, a worker at the mine said. The outlook for copper remains positive due to expectations of a supply deficit this year. Stocks of copper in London Metal Exchange fell 1,125 tonnes to 376,225 tonnes. Since Dec. 9, they have risen about 30,000 tonnes, raising some concerns about demand. However, analysts underlined that stocks were down 30 per cent since they hit a 6-1/2 year
high in mid-February 2010. As stocks have climbed, recent worries about nearby supply have eased, and so too, for now, has the premium for cash copper over the three-month contract at $7.50 a tonne. Supply worries had pushed the backwardation to around $70 a tonne in mid-December. Aluminium stocks continued to rise and last reached 4,435,000 tonnes. Aluminium closed at $2,472 from $2,482 a tonne. Zinc closed at $2,457 from $2,462 a tonne while battery material lead was at $2,678 from $2,635 a tonne. Tin was at $26,850 from $26,850 a tonne. Nickel closed at $25,875 from $25,550 a tonne, holding near its highest since May 2010. "...We feel there may be more on the downside in the near term, although US data could once again attract the buyers if the data is good," William Adams, analyst at Basemetals.com said in a note. Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 13 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 13 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2281 2282 2260 2265 2180 2190 2180 2190
2479 2479.5 2496.5 2497 2550 2555 2585 2590
9621 2698.5 9622 2699 9619 2672 9620 2674 9410 2595 9420 2600 9010 2543 9020 2548
25720 25725 25725 25750 25250 25350 24400 24500
TIN
ZINC NASAAC
26900 2448 2410 26925 2448.5 2410.5 26950 2458 2440 26975 2459 2450 26400 2478 2465 26450 2483 2475 2445 2520 2450 2530
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 1025.00-25.00, May11/Jul11 1034.00-16.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1075.00-10.00, Aug11/Oct11 1005.00-10.00, Nov11/Jan12 1010.00-10.00, Feb12/Apr12 1015.00-10.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1480.00-5.00, Apr11/Jun11 1455.00-5.00, Jul11/Sep11 1480.00+0.00, Oct11/Dec11 1380.00-10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1512.50+17.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1260.00-7.50, Feb11 1260.005.00, Mar11 1257.50-7.50, Apr11/Jun11 1240.00-7.50, Jul11/Sep11 1230.00-12.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1292.50, Mar11 1282.50, Apr11/Jun11 1272.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1237.505.00, Mar11 1227.50-7.50, Apr11/Jun11 1217.50-5.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1245.00-5.00, Mar11 1235.007.50, Apr11/Jun11 1225.005.00, Jul11/Sep11 1205.005.00. PALM STEARIN: Dlrs tonne fob Malaysia Jan11 1205.00+0.00, Feb11 1205.00+0.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Jan11 1015.00+0.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 1970.00+45.00, Mar11/Apr11 1960.00+45.00, Apr11/May11 1950.00+45.00. -Reuters
Indian sugar rises on output concerns MUMBAI: Indian sugar prices edged higher for a second straight day on Friday due to improvement in stockists' buying and concerns over production due to lower recovery rate, dealers said. "Traders were talking production going below 25 million tonnes due to a drop in recovery rate," said a member of Bombay Sugar Merchants Association (BSMA). The Indian Sugar Mills Association, a producers' body, had forecast 2010/11 output at 25.5 million tonnes, up from 18.8 million tonnes in the previous year. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety edged up by 0.54 per cent to 2,775 rupees ($61.16) per 100 kg. The most-traded M-grade sugar contract for February delivery on India's National Commodity and Derivatives Exchange (NCDEX) rose 0.28 per cent to 2,875 rupees per 100 kg, after hitting a contract low of 2,818 rupees earlier this week. A panel of Indian ministers will review 500,000 tonnes of sugar permitted for overseas sales, two government sources said on Tuesday. -Reuters
Feb Brent hits $99 nearing expiry, US dips China ups lenders' reserve rates requirement NEW YORK: Brent crude oil rose to a 27-month peak above $99 a barrel on Friday ahead of the February contract's expiration, as it continued its push toward $100, while China's move to lift lenders' reserve requirements pressured US oil prices. ICE Brent futures have traded above US crude since August last year, supported by a combination of dwindling North Sea crude supplies and disruption of oil grades priced off it, traders said. US crude prices were pressured by China's move to lift lenders' reserve rate requirements by 50 basis points in its ongoing effort to tame inflation. That was China's seventh increase since early 2010, prompting concern that its appetite for buying oil and other commodities could be curbed. In London, ICE Brent crude for February rose 62 cents, or 0.63 per cent to $98.68 a bar-
rel, at 1606 GMT, having traded as high as $99.14, highest since Brent reached $100.31 in October 2008. The February contract expires at the end of Friday's trading. US crude oil for February delivery fell 55 cents, or 0.6 per cent, to $90.85 a barrel, off
its earlier $90.10 low. February crude options expire on Friday. The discount for US crude futures' benchmark West Texas Intermediate (WTI) against Brent reached fresh 23-month highs over $8 a barrel, the widest discount since February 2009. Brent's strength helped US crude pare its losses. The expiry of the February Brent futures contract on Friday had some, but not all, analysts expecting it to erode some of the strong differential,
Palm oil inches down; supply worries persist KUALA LUMPUR: Malaysian palm oil futures fell on Friday, ahead of export data that may show an improvement in demand at a time when supplies are tightening. Vegetable oil supplies have been limited by heavy rains in palm oil-producing Indonesia and Malaysia and dry weather hitting soyoil-exporting Argentina, fuelling prices to multi-month highs and raising food shortage fears. "Production won't improve much during the second half of this month because of heavy rains. We have to watch out for news about floods in Sabah on the island of Borneo and the east coast of mainland Malaysia," said a trader in Kuala Lumpur. "Palm oil was oversold yesterday, so there was a technical correction in the morning, but traders may liquidate their
positions further." The benchmark March 2011 crude palm oil contract on Bursa Malaysia Derivatives ended down 0.4 per cent to 3,680 Malaysian ringgit ($1,205) a tonne. Overall traded volume rose to 22,663 lots of 25 tonnes each, compared to the usual 15,000 lots. Investors are waiting for cargo surveyors to issue Malaysian export data for the first fifteen days of January over the weekend and on Monday, which may show an improvement from the same period a month ago. US soyoil for January delivery inched down in Asian hours after posting solid gains in the previous session on concerns over tight supplies of soybeans for crushing. The most active September 2011 soyoil contract on China's Dalian Commodity Exchange fell 0.4 per cent. -Reuters
as February traded stronger than March. "We are not convinced that the extreme front premium of Brent to WTI (March or April) can be sustained," Petromatrix's Olivier Jakob wrote in a note. Earlier, crude prices had shown a muted reaction to several US economic reports. An increase in the Consumer Price Index and rising industrial output led by utility output after an unusually cold winter was eclipsed by the China reserve requirement hike and the strength of the dollar, which weakened later. A separate report on Friday showed that rising gasoline prices pushed down US consumer sentiment in early January, overshadowing an improved job outlook and passage of temporary federal tax breaks, a Thomson Reuters and the University of Michigan survey released on Friday showed. -Reuters
Tokyo rubber hits record high for 3rd day TOKYO: Key Tokyo rubber futures hit a record high for the third consecutive day on Friday bolstered by strong physical prices and supply concerns, though traders said the market was now likely to be sensitive to any bearish factors as it has cleared support at 450 yen. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery settled up 6 yen, or 1.3 per cent, at 454.4 yen ($5.49) per kg, after hitting a record high of 454.7 yen. Major tyre makers purchased Indonesian rubber at record prices above $5 a kg for March shipment, while top consumer China was also in the market to stock up on fears that prices would rise further, dealers said on Friday. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.3 per cent from a week earlier, the exchange said on Friday. -Reuters
US cotton ends down sharply on profit-taking NEW YORK: US cotton futures settled sharply lower on Thursday on investor profit-taking and producer sales ahead of a holiday weekend, with analysts saying the overall outlook for the market remained bullish. The cotton market will be shut on Monday for the US Martin Luther King Jr. Day holiday. Trading reopens on Tuesday. The key March cotton contract on ICE Futures US fell 3.91 cents to settle at $1.4406 per lb, dealing from $1.4397 to $1.5163. Trading volume totaled around 25,000 lots, almost 40 per cent above the 30-day norm,
Thomson Reuters preliminary data showed. Keith Brown, president of commodity firm Keith Brown and Co in Moutrie, Georgia, said players did not want to take aggressive positions before the holiday, but the market outlook pointed to further gains in cotton futures. "The slope of the trend is still up," Brown said. "The fundamentals remain bullish." Traders said cotton should grind higher given tight supplies going forward and steady demand, with the new-crop December contract receiving solid support above $1 per lb.
Higher corn and soybean futures could prompt US farmers to plant more of those crops, reducing the area for cotton and leading to tight supplies -- a development that would support cotton prices, analysts said. The market drew early support from the US Agriculture Department's weekly export sales report. The USDA said US cotton sales stood at 357,600 running bales (RBs, 500-lbs each), from 169,100 RBs in last week's report. The market is now monitoring whether high cotton prices result in demand destruction going into spring, traders said. -Reuters
National Commodity Exchange Ltd Trading Summary Date
14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011 14-Jan-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
FE11 MA11 AP11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 JA11 FE11 MA11 JA11 FE11 JA11 JA11 MON TUE WED THU FRI MON TUE WED THU FRI 20JA11 JA11 JA11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
91.85 92.80 93.40 29.41 29.43 1382.30 1383.00 1384.00 1385.00 1383.10 1384.00 38347.00 38330.00 38314.00 38263.00 38272.00 44630.00 44630.00 39345.00 39387.00 39401.00 39415.00 39331.00 45800.00 45146.00 45650.00 45700.00 45200.00 3350.00 3355.00 5207.00 86.15 85.36
92.28 93.16 94.00 29.74 29.43 1393.10 1393.40 1394.80 1392.00 1383.10 1384.00 38395.00 38500.00 38314.00 38263.00 38272.00 44630.00 44630.00 39345.00 39387.00 39401.00 39415.00 39331.00 45910.00 45272.00 45650.00 45948.00 45208.00 3367.00 3364.00 5207.00 86.16 85.36
90.15 91.20 92.40 28.38 28.46 1364.00 1364.90 1365.50 1366.90 1365.70 1365.70 37837.00 37764.00 37859.00 37809.00 37818.00 44100.00 44100.00 38872.00 38915.00 38929.00 38943.00 38957.00 44672.00 44721.00 44737.00 44753.00 44770.00 3350.00 3355.00 5186.00 86.15 85.33
90.46 91.51 92.57 28.44 28.46 1364.90 1365.70 1366.60 1364.90 1365.70 1365.70 37837.00 37846.00 37859.00 37809.00 37818.00 44100.00 44100.00 38872.00 38915.00 38929.00 38943.00 38957.00 44672.00 44721.00 44737.00 44753.00 44770.00 3367.00 3364.00 5186.00 86.16 85.33
Traded Volume in lots 303 61 35 253 2,937 3,894 2,999 46 2 30 46 3 2 12 1 -
Previous Settlement Price 90.95 91.95 93.02 28.84 28.86 1,375.70 1,376.60 1,377.50 1,375.70 1,376.60 1,377.50 38,103.00 38,112.00 38,125.00 38,075.00 38,084.00 44,410.00 44,410.00 39,141.00 39,182.00 39,196.00 39,210.00 39,224.00 44,986.00 45,034.00 45,049.00 45,065.00 45,081.00 3,350.00 3,355.00 5,207.00 86.15 85.36
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 90.46 98 91.51 19 92.57 17 28.44 166 28.46 1,364.90 1,482 1,365.70 2,442 1,366.60 1,834 1,364.90 18 1,365.70 1,366.60 37,837.00 30 37,846.00 12 37,859.00 1 37,809.00 2 37,818.00 44,100.00 44,100.00 38,872.00 38,915.00 38,929.00 38,943.00 38,957.00 44,672.00 43 44,721.00 11 44,737.00 1 44,753.00 6 44,770.00 1 3,367.00 3,364.00 5,186.00 86.16 85.33 -
Siemens CEO Loescher talks to journalists while sitting in chair lift at Germany's highest mountain Zugspitze
10
Saturday, January 15, 2011
Li Na shocks Clijsters to take Sydney title SYDNEY: China's Li Na staged a remarkable comeback from 5-0 down in the first set to upset Australian Open favourite Kim Clijsters 7-6 6-3 in the final of the Sydney International on Friday. It was a first loss in 14 semifinals and finals for U.S. Open champion Clijsters since her return from retirement in August 2009 and the manner of defeat will be a big psychological blow just three days from the start of the year's first grand slam. The 28-year-old Li, a semifinalist at Melbourne Park last year, sealed her fourth career title when she volleyed home a winner with Clijsters stranded off the court after 90 minutes. It had taken Clijsters just 18 minutes to rack up a 5-0 lead in the first set but her game then fell apart, with seven double faults and 27 unforced errors telling the tale of a spectacular collapse.-Reuters
Bommel to captain Bayern Munich still BERLIN: Dutch midfielder Mark van Bommel will captain defending champions Bayern Munich against Steve McClaren’s Wolfsburg today despite being out of contract in June, says coach Louis van Gaal. Van Bommel’s contract expires at the end of the season while his potential replacement, Brazilian Luiz Gustavo, has signed for 15 million from Hoffenheim. With Bayern 14 points behind Bundesliga leaders Dortmund, Munich resume their quest to close the gap against 2009 German champions Wolfsburg and van Bommel is set to take charge of Bayern on the pitch.Agencies
FIFA awards badges to Pak referees LAHORE: Football’s world body, FIFA has awarded total of seven Referee and Assistant Referee badges to Pakistani referees. “Referees in receipt of a FIFA badge are entitled to officiate at FIFA and AFC fixtures, both at club and international level. I hope that they will keep their fitness level and refereeing for the rest of the year.” said President, Pakistan Football Federation (PFF) Faisal Saleh Hayat here on Thursday. Khurram Shahzad belonging to a village of Kohat in Khyber Pakhtunkhwa is among the Pakistani officials to get a FIFA referee badge. The work of these officials would be constantly monitored and it is mandatory that each of them shows consistent high-level performance, said Faisal while adding that the new fitness test is designed to test the physical fitness and mental strength of the referees. “The quality of the game also plays a major role in the development of refereeing. No referee in the world can claim to be the best in the world. One can only become a good referee when one makes the least number of mistakes”, he added.-APP
Australia beat England in T20 match
MELBOURNE: Shane Watson of Australia is congratulated by team-mates after getting a wicket during the Second Twenty20 International Match between Austtalia and England at the Melbourne.-Reuters
Focus all set on improvement, not series sweep: Misbah WELLINGTON: Taking a 20 sweep of the test series against New Zealand was not on the mind of Pakistan captain Misbah-ul-haq as his side made their final preparations for the second test at the Basin Reserve on Friday. The tourists won the first test in Hamilton by 10 wickets. The second test begins on Saturday with the sides then embarking on a six match oneday series as they complete their preparations for the World Cup that starts on Feb. 19. Misbah, however, said they had not even discussed a series victory let alone a sweep, instead preferring to concentrate on improving from their performance at Seddon Park. "Actually we are just determined to perform well and want to improve our performance and then we will see what the result is," Misbah told reporters as he zipped up his tracksuit to keep warm in the lengthening shadows of the venue's main grandstand.
"All we want is to perform at 100 percent and then let's see. "Confidence is the key in cricket, especially if you have good results then you tend to perform well and when you perform well, your confidence level is up. "It's really good for us that our team's confidence level is up." Misbah also said he expected New Zealand to perform better than they had in Hamilton, where the lifeless pitch offered little to the bowlers, but frustrated New Zealand's batsmen enough for them to make mistakes. The Basin Reserve wicket was also quite green on Friday and expected to have more bounce and pace than Seddon Park. "They're still a good side in New Zealand and can give you a tough time at any time," Misbah said of Daniel Vettori's team. "It's not easy to beat them. It'll take really good, deter-
mined cricket from us for us to do that job here because these conditions suits them more. "It's totally different from Hamilton and we have to just get ready for that and get used to the pace and bounce of this wicket." New Zealand captain Vettori echoed Misbah's comments about the pitch, but the final make-up of his team, with all rounder James Franklin expected to come into the side, would determine whether he would bat or field first if he won the toss. "Coming to the Basin you think there's a chance early on to take some wickets but I think in the past the team that has been able to put a decent score on the board has actually had more success with the ball on days two and three," Vettori said. "It's about trying to balance that up but I think the final weighting of the team will have a huge influence on whether we bat or bowl.Reuters
Amir’s lawyer upbeat after return Monitoring Desk LAHORE: Mohammad Amir’s lawyer has labeled the delay in the spot-fixing verdict a ‘silver lining’ and remained hopeful of a favourable verdict when the ICC-appointed tribunal announces a decision on February 5. Amir, Salman Butt and Mohammad Asif returned to Lahore yesterday after the sixday hearing that took place in Doha failing to reach a verdict. While the trio refused to talk to the media, Shahid Karim, Amir’s lawyer,
revealed the camp’s satisfaction during proceedings in Doha. “We had a detailed and positive hearing in Doha,” said Karim. “I can confirm that we were given a fair opportunity to defend our case and they listened to us in an impartial way and the delay in handing out the verdict could be a silver lining for us. “I’m confident that Amir will be cleared as the tribunal has withdrawn all charges against him in relation to the Oval Test. We have requested the three members of the tribunal to continue their delib-
eration before reaching any judgment.” While Karim refused to speak about the possibility of a negative verdict coming their way – and a possibility of the cricketer going to the Court of Arbitration for Sport – he expressed hope and confidence that the tribunal will exonerate the left-arm fast-bowler. “We’re happy with the way the case had gone on and I don’t believe Amir will be banned. I’m very confident that he will be exonerated so there is no question of thinking that the judgment could go against him.”
MELBOURNE: Australia finally had something to celebrate after recording an unlikely four-run win over England in the second Twenty20 international at the Melbourne Cricket Ground on Friday. After Australia battled to 147-7 thanks to an unbeaten half-century by second-gamer Aaron Finch, England looked set to cruise to victory when they were 58-0 after six overs, with opener Ian Bell on song. However, England's quest to extend their record unbeaten T20 streak to nine matches, having defeated Australia on the last ball of Wednesday's game in Adelaide, came unstuck as their middle order failed to deliver. As was the case in
Nadal flirts with greatness at Aussie Open Monitoring Desk SYDNEY: There will be upsets, there will be drama, there will be cheers and there will be tears, but most eyes at the Australian Open will be on whether Rafa Nadal can succeed where so many great players before him have failed. The world number one left Melbourne Park last year after retiring injured from his quarter-final against Andy Murray but returned this week with the Wimbledon, French and US Open titles in his possession. A second Australian Open title on January 30 would make him only the third man to have held all four grand slam titles at one time, a feat beyond even the great Roger Federer. To date, at least. The era of the Swiss maestro is not over quite yet and Federer returns as defending champion in search of his fifth Australian Open title on the back of a spell of tremendous form at the end of last season and the start of this. While second seed Federer appears in rude health, there are health concerns about Nadal, even if this year it is a flu virus, not his knees, that has disrupted his preparations. The Spaniard has no doubt he will be on court next week for his first round match against Brazilian Marcos Daniel and like all great champions his focus is on winning tennis matches, not on the annals of the game. “My motivation is the Australian Open, that’s my motivation,” the top seed croaked to reporters in Melbourne on Friday.-Reuters
Australia's lone win during the Ashes series, in the third Test at the WACA Ground, it was paceman Mitchell Johnson (329) who turned the match on its head. Johnson claimed the vital wicket of Bell (39) when the right-hander dragged a ball onto his stumps in the seventh over to end an opening stand of 60. The left-hander then followed up by having the dangerous Kevin Pietersen caught for one three balls later. Johnson also removed the dangerous Eoin Morgan for 14, while Shane Watson backed up his brilliant effort in Wednesday's match with a frugal 2-17 from four overs. With 13 runs needed off the last three balls from Brett Lee,
young England all-rounder Chris Woakes threatened to repeat his heroics on Wednesday when he lofted the paceman into the stands to make it seven needed from two balls. But Lee got the job done as Australia snapped a run of five successive losses in T20 internationals. Man of the match Finch, in just his second international, hit 53 not out from 33 balls in a crucial performance with the bat for the home side. Australia side got off to a quick start and were 57-1 after six overs, but lost 4-17 as Graeme Swann and Michael Yardy wreaked havoc, the two English spinners recording identical figures of 2-19 from their four overs.-Agencies
India could face ban from Monitoring Desk LAUSANNE: The International Olympic Committee's executive board warned India on Thursday that it could bar the country from the Olympics unless a spat over Indian sports chiefs is resolved. The board said in a statement after a two-day meeting here that "a number of points still have to be resolved". "Consequently if the situation does not evolve positively, the IOC executive board will consider taking appropriate measures and actions which might seriously affect the representation and participation of India at the Olympic Games and international sports events coming up," it added. The IOC insisted that India's
government had agreed at a meeting in Lausanne last June to adopt a jointly agreed draft constitution for the Indian Olympic Committee and respect its autonomy. India clashed with the IOC last year over new rules limiting the tenures of the country's top sports officials, according to letters seen by AFP in May. The Olympic body has the power to impose sanctions including suspending the country from its membership -- a move that would prevent it taking part in the 2012 London Olympics.
Int’l events still far from Pakistan: ICC KARACHI: Dave Richardson, ICC general manager for cricket operations, feels that the Pakistan Cricket Board's initiative to host the final of the country's premier first class competition under lights will have a positive impact on the sport. Richardson said that the ICC, too, was working on several recommendations to make five-day cricket including Test matches more interesting. "The PCB has taken a bold decision to hold the five-day final under lights and it will
help popularise the sport as well," Richardson said. He said the ICC was considering holding Test matches under lights in a bid to make it more interesting and attractive for the spectators. Richardson, however, made it clear that it was not possible for an immediate return of international cricket to Pakistan. "I think once there is an improvement in the security conditions and arrangements then teams can be convinced to start looking at playing in Pakistan again," he said.-Reuters
‘NZ batsmen need to back up bowlers’ WELLINGTON: New Zealand captain Daniel Vettori has echoed coach John Wright and asked his batsmen to back up their bowlers if the home side have any chance of squaring the series against Pakistan when the second test begins at the Basin Reserve on Saturday. The hosts' pace trio of Chris Martin, Brent Arnel and Tim Southee toiled on a unresponsive pitch to bowl Pakistan out for 367 in the first test at Seddon Park, before New Zealand's batsmen collapsed for 110 in their second
innings. Pakistan knocked off the 19 runs needed for victory in under four overs to claim the first test by 10 wickets. Wright, who was appointed to the job before the series began, said he was expecting his top six to bat longer in order to help set up competitive totals that his bowlers could then defend. "I think the words that Wrighty has said have been great, he's hit the nail on the head on a number of occasions," Verttori told reporters in brilliant sunshine in
Wellington on Friday. "We understand it was a poor performance but if we get too down in the dumps then we're not going to rectify it here. "We obviously didn't score enough runs in the last test but I thought the bowling unit did a good job. "Tim in particular, I think I stated in the press conference after the test match that I think it's the best test match he has had and he has backed it up." While the Seddon Park was flat, the green pitch at the
Basin Reserve is expected to provide more bounce, pace and assistance for the fast bowlers, which could see the New Zealand side rejigged. Wellington all-rounder James Franklin is widely expected to come into the side, possibly at the expense of opening batsmen Tim McIntosh. Franklin will likely bat at number six, with the rest of the order moving up one spot and his left arm swing bowling will provide some variation from the right-arm medium-fast attack of Arnel,
Southee and Martin and also allow them to rest. "Sometimes if you can have that extra bowler in the likes of a Franklin then it allows Chris Martin or Tim Southee to be even more of a strike bowler," Vettori added. "I thought they both bowled really well but they had a pretty big workload (in Hamilton), so maybe the addition of Franklin would take a bit of that workload off and they would be fresher for it." Franklin, who has made 12 centuries including a career best 219 and averages almost
35 at first class level has not transferred that to the highest level, with just one century and an average of 21.46, though the majority of his batting success at first-class level has come in the past three or four seasons. "I see him as a batter who bowls a little bit. I think that goes along with what the selectors think," Vettori said. "I think whenever you get a player like James in terms of the all round package it's a real advantage so you always try to fir that type of player in the team."-Reuters
US retail sales rise modestly, inflation tame WASHINGTON: Sales at U.S. retailers rose slightly less than expected in December, while underlying inflation remained tame, suggesting the recovery was strengthening modestly with little price pressure building. Despite the small rise in retail sales in December, a key shopping month, sales for all of 2010 reversed two years of contraction with the biggest gain in more than a decade, according to data released on Friday. "We are gathering momentum," said Swiss Re chief economist Kurt Karl, adding that a three-month moving average of retail sales was "really strong." However, in an illustration of headwinds yet facing the recovery, another report showed that rising gasoline prices chilled consumer sentiment in January and raised inflation expectations. Other data on Friday showed a surprisingly large gain of 0.8 percent in output at the nation's factories, mines and utilities in December, although cold weather was a factor. Business inventories grew much less than expected in November as sales kept up a strong pace. Stock were up slightly, while Treasuries extended gains after the Thomson Reuters/University of Michigan preliminary data for January showed consumer sentiment rose less than expected. The dollar extended losses against the yen and euro after the consumer sentiment report. The reports are unlikely to budge the U.S. Federal Reserve from its $600 billion bond buying program aimed at accelerating growth and lower-
ing the lofty jobless rate. Retail sales climbed 0.6 percent, advancing for the sixth straight month as sales declines at electronics and general merchandise stores were offset by gains in gasoline and building materials sales, the Commerce Department said. Analysts had expected sales to rise 0.8 percent.Excluding autos, sales rose 0.5 percent. Analysts had forecast a 0.7 percent increase. Brian Jones, senior economist at Societe Generale in New York, called the retail sales report "mildly disappointing." "There is some evidence that the year-end winter storm may have impacted some areas and held down the headline figure," he said. For the year as a whole, sales increased 6.6 percent after a 6.5 percent drop in 2009. It was the largest 12-month gain in sales since 1999. While softer-than-expected, the trend in sales points to a strengthening in demand in the fourth quarter. Fed Chairman Ben Bernanke said on Thursday the economy was "moving in the right direction" with the risk of a troubling deflation falling. A strengthening of global demand, largely in fast-growing emerging economies, has given a lift to commodity prices and has also led to a quickening in U.S. overall inflation. In December, sharply higher prices at the gasoline pump pushed consumer prices up at their fastest pace in a year and a half, though core prices, which strip out volatile food and gas costs, barely budged, a Labor Department report showed.
France says EU mulling over larger bailout fund
The consumer price index rose a slightly more-thanexpected 0.5 percent, but the core CPI rose just 0.1 percent, in line with expectations. "We don't see right now inflation to be a major threat to the economy," said David Resler, chief economist at Nomura Securities in New York. Overall consumer prices rose 1.5 percent from the same month a year ago, while core consumer prices gained 0.8 percent in 2010, the slowest calendar year pace since the department started keeping records in 1958. However, higher gasoline prices weighed on consumers and pushed inflation expectations to their highest in more than three years, according to the Thomson Reuters/University of Michigan survey. That development could trouble Fed policymakers, who lay great emphasis on expectations as a harbinger of future inflation. A separate report from the central bank showed U.S. industrial production rose by a stronger-than-expected 0.8 percent in December. That reflected a surge of 4.3 percent in utility output, which the Fed pinned on unusually cold weather. Manufacturing and mining production both gained 0.4 percent, and industrial output for the fourth quarter as a whole advanced at a 2.4 percent annual rate, slower than in previous quarters of the year. The steady advance in manufacturing, which has led the recovery, helped push up the amount of industrial capacity being put to use in December to 76 percent. -Reuters
PARIS: European governments are considering increasing the size of their rescue fund as part of a package of measures to tackle the debt crisis in the euro zone, France said on Friday. French Economy Minister Christine Lagarde said ministers would also discuss whether European stabilisation funds should be allowed to purchase sovereign debt of the bloc's weaker members on the secondary market. "The increase in the European Financial Stability Facility (EFSF) is one option which we are looking at, of course," Lagarde told a news conference. Senior European officials have been calling for an expansion of the 440 billion euros European Financial Stability Facility, established after Greece was bailed out in May, but a French government spokesman said earlier this week it was sufficient. Germany remains opposed to any outright increase though it says a "comprehensive package" to solve the bloc's debt crisis is in the works. German Finance Minister Wolfgang Schaeuble said on Thursday debate about boosting the fund was not realistic. However, he said he was open to discussion about enabling the existing fund to be used in full. Worries about whether the EFSF is large enough focus on estimates that only around 250 billion euros of the 440 billion ($592 billion) fund are effectively available to euro zone countries because of a complex loan guarantee system -- not enough to bail out high debtors Portugal and Spain. Analysts say Berlin might agree to raising the effective capacity to 440 billion euros in exchange for stronger commitments to fiscal discipline from its peers. -Reuters
CONTINUATION seize their bank accounts. Wasim Ahmad told the committee that so far Rs1.83 billion had been recovered and efforts were being made to make more recovery. He said that the value of the property in Lahore was Rs80 million higher than its actual price. This was assessed through the valuation process made through different companies. "But FIA is still not satisfied with this process and it has decided to make the valuation process through another company NESPAK", the DG FIA added. However opposing the valuation process, Ilyas Bilour said that he was totally against this process because those companies could easily be approached by the influential people. Senator Haroon Khan suggested that the best way to make assessment of the value of the property is through advertisement. "Valuation process through different companies is a faulty and Continued from page 1 No #2 lengthy process, the value of the property can better be assessed roundtable was organised with an aim to develop a platform to through the advertisements", he added. work together for helping Pakistan achieve the status of playing The DG FIA agreed with the proposal of the committee and even greater role in the world market. praised Senator Haroon for such an effective proposal.-APP "Several important trade initiatives are already underway, through Continued from page 1 No #6 USAID's Trade Project, which is working to help modernise federation and the provinces regarding grant of petroleum rights Pakistan's trade environment, support a level playing filed for all industries and help businesses access export opportunities," he in the country in future. The meeting was attended by the representatives of all the four added. USAID was also helping to improve the effectiveness of the com- provinces including the senior Minister for Mines of Khyber mercial officers' programme to promote and facilitate trade, devel- Pakhtunkhwa Raheemdad Khan, Minister for Coal and Energy Development Department Shazia Marri, Government of Sindh and op an electronic trade portal as a valuable online tool for the government, Pakistani exporters and international buyers to access real senior officers of the Ministry of Petroleum and Natural Resources. Meanwhile the minister stressed the need for accelerating oil and time information. He said the agency was also providing analytical assistance to gas exploration and production to mitigate the energy shortfall in identify opportunities for trade facilitation and support border post the country. The minister also directed the concerned officials to take approinfrastructure development such as the high bridges for Chaman priate steps to facilitate and streamline exploration and production and Torkham. Highlighting the importance of healthy investment climate, he companies in the country to meet the energy shortage. "Energy is the basis of growth and welfare and all out efforts are said that conducive atmosphere could help spur prosperity through economic development besides starting and running a business, cre- needed to expedite E&P activities in the country," he added.-APP ating environment where complying with regulations brings more Continued from page 12 No #7 benefits than costs, spurning innovation, encouraging entrepreneursharply, Konuma said. ship and new ideas as more of the world's markets are given the Severe weather and natural disasters have hit key grain-producopportunity to enjoy Pakistani goods products. Speaking on the occasion, Chief Executive Officer (CEO), Trade ing countries, fuelling supply shortage concerns as demand from Development Authority of Pakistan (TDAP) Tariq Puri said that the emerging nations such as China and India is growing. Corn and soybean prices hit two and a half year highs this week authority in collaboration with the USAID has taken initiative to develop electronic trade portal to provide knowledge-based infor- after the US Agriculture Department announced a surprisingly steep reduction in its forecasts for global grains and oilseeds supmation to the world businessmen. He said that Memorandum of Understanding (MoU) for estab- plies. China, India, South Korea, Algeria are among countries that lishing the portal has been finalised which would be signed soon adding that it would help businessmen to know about the business have carried out various measures to combat rising food prices and growing consumer concern. opportunities and devise investment policies.-APP Despite some signs of social discontent, Konuma said there Continued from page 1 were no signs of the sort of riots that were seen in 2008.-Reuters No #3 elaborated upon the impact of floods, war against terror, energy Continued from page 12 No #8 shortage and international price hike on the economy in general Balochistan and other areas are very suitable and Ministry of and the Budget in specific.-NNI Food and Continued from page 1 No #4 Agriculture should explore and design plans without allowing referred to FIA. pesticides companies in these areas. The bench in its order had observed that their case was identical MNAs, Nadeem Afzal Chan, Abdul Majeed Khanan Khail, with other cases of Naudero Power Plant II and Guddu which had Muhammad Arshad Khan Laghari, Rana Tanveer Hussain, Dr already cleared its repayable, besides, Young Gen. Abdul Kadir Khanzada, Syed Haider Ali Shah, Mir Changez The bench is seized with hearing of a suo moto taken on appeal Khan Jamali and Chaudhry Tassadiq Masood Khan attended the of Makhdoom Faisal Saleh Hayat, a PML-Q leader.-APP meeting.-APP
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ordinance was made part of law under the finance act and was not approved by the parliament hence the extension was a violation of the Banking Nationalisation Act 1994. The apex court, therefore, directed Raza to surrender his post with immediate effect. The SC also ordered the Capital Development Authority (CDA) to reclaim land allegedly occupied by Leader of the House in the Senate Nayyar Hussain Bukhari. CDA Chairman Imtiaz Inayat submitted a report which said that it has reclaimed 300 canals of the land in Bani Gala, while 20,000 acres of CDA land is still under illegal occupation. The apex court disposed of the case, after ordering CDA to take all possible actions to reclaim the land.-Agencies
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International & Continuation
Saturday, January 15, 2011
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General FIA told the committee that all of the main accused in power lines. The worst affected towns were Novo Friburgo, the land scam have been arrested and are being interrogated. which recorded 225 deaths, Teresopolis, with 223 deaths, and Senator Ishaq Dar asked the DG FIA to put all the culprits Petropolis, with 39 deaths, according to municipal officials. involved in the property case in the Exit Control List (ECL) and
China ups bank reserves; more tightening seen BEIJING: China's central bank raised lenders' required reserves on Friday for the fourth time in just over two months, stepping up the fight against inflation that it has vowed will be a top priority for the year. By forcing banks to lock up more cash with the central bank, Beijing hopes to drain excess money from the economy and tame rising prices, which it worries may stir social unrest. The move, well anticipated after China's top leaders planted the task of taming inflation at the top of their agenda, underscores the central bank shift to "prudent" monetary policy in December, from its previous "moderately loose" stance. With inflation expected to stay elevated in coming months, barring a temporary dip in December from 28month highs [ID:nTOE70B062], analysts believe more tightening is on the cards. "The rise is within market expectations, showing that the central bank is really concerned about inflation," said Dong Xian'an, chief economist at Industrial Securities in Beijing. "We expect the central bank to raise interest rates once or twice more in the first quarter, and we expect two more RRR rises in the same period."
The 50-basis-point increase, effective Jan. 20, will raise the reserve requirement ratio (RRR) for China's biggest banks to a record high of 19.5 percent. Announced by the People's Bank of China in a terse statement published on its website www.pbc.gov.cn after the Chinese stock market [.SS] had closed, it triggered kneejerk selling in riskier assets such as the euro and oil . PLENTY OF CASH The move will drain about 350 billion yuan ($53 billion) from the Chinese economy, but given the speed at which new money is entering the system through trade and investment it is no wonder many believe more reserve requirement increases are due. China's foreign exchange reserves surged a record $199 billion in the fourth quarter to $2.85 trillion, compelling the central bank to counter the inflationary effects of such money inflows via sterilisation, or selling yuan-denominated bills to domestic institutions to mop up excess liquidity. The central bank has to buy most of the incoming foreign currency to keep the yuan stable, pumping huge amounts of local currency into the banking system as a result. Yet, it faces difficulties in selling bills to banks in recent weeks due to depressed auc-
tion yields. Zealous lending by banks are not helping as well. Chinese banks doled out close to 500 billion yuan in new loans in the first week of January, according to sources, following a lending spree of 7.95 trillion 2010 that overshot the central bank's loan target. STUBBORN INFLATION? China's inflation hit a 28month high of 5.1 percent in November as food and property prices soared. Given oil prices have jumped above $90 a barrel and global commodity prices have headed higher in recent months on the back of harsh weather, some analysts warned price pressures may not abate soon. China is not the only country battling inflation amid rising food and energy prices. Central banks in South Korea and Thailand both raised rates this week. In order to rein in inflation, analysts believe China has to use an array of policy tools including raising interest rates and allowing the yuan to rise faster. "I do expect further RRR hikes in China," said Tommy Xie, an economist at OCBC Bank in Singapore. "Inflationary pressure in China is still very high and credit expansion remains strong."-Reuters
UK factory gate inflation speeds up LONDON: British factory gate inflation rose in December to its highest annual rate since August, driven by a sharp rise in the price of crude oil and food that will add to the Bank of England's worries about inflationary pressures. Financial markets have increasingly brought forward their predictions for a BoE interest rate rise to as early as May, due to growing inflation expectations on bond markets and among the general public. Friday's official data showed a bigger than expected increase in the pipeline pressures on consumer price inflation, which is already more than a percentage point above its 2 percent target and is forecast to rise towards 4 percent. The Office for National Statistics said producer output prices rose 4.2pc in December, above forecasts for an annual rise of 3.9pc. On the month, output prices were up 0.5pc, versus a 0.4 percent forecast. "This makes very uncomfortable reading for the Bank of England and it will cast further doubts about how far and how fast
retail and consumer price inflation will retreat in the second half of this year," said RBS economist Ross Walker. The central bank has forecast that consumer price inflation will peak early in 2011 and fall back to its target early in 2012 as the one-off effect of higher commodity prices an d a rise in value-added tax drops out of the annual data. December input prices were 12.5pc higher on the year, well above forecasts for a 10.4pc rise and the biggest annual increase since April. November's reading was 9.2pc. Economists had expected some acceleration in input costs due to higher oil and gas prices and the weaker pound, and say there is little the BoE can do about its effect on consumer prices in the short term. "This is primarily an oil and commodity price effect," said Commerzbank economist Peter Dixon. "It is going to raise pressure on the Bank of England ... but the question is what would a rate hike do to curb this problem? Probably not very much because it is a commodity price effect." -Reuters
Big US cos take tax gripes to Geithner WASHINGTON: Chief financial officers from multinational companies meet with Treasury Secretary Timothy Geithner on Friday to air gripes about the tax code under which they pay the steepest rate in the industrialized world. Companies want the rate slashed, arguing that it handicaps them competitively against their foreign-based peers. "The current tax code with its punitive corporate rates and complex maze of deductions and credits highly distorts eco-
nomic decision-making," said Dean Garfield, president of the Information Technology Industry Council, whose members Cisco Systems and Microsoft Corp will attend the meeting. Obama administration officials, for their part, say a corporate tax revamp must be "revenue neutral," so a rate cut will have to be offset by new revenue. Administration officials point out that companies typically do not pay the full 35 percent rate, thanks to a myriad of
deductions and credits that help them chip away at their rate. Still, Geithner said earlier this week the high rate can influence incentives on where to invest. "What we want to do is to make sure we are strengthening the relative incentives for investing in the U.S. versus shifting investment outside the United States," Geithner said on Thursday. A big point of debate will revolve around what portion of profits is taxed. -Reuters
Another 19 fatalities were registered in the village of Sumidouro. The toll of dead from this one disaster was higher than the 473 rain-related deaths recorded for all of Brazil over the span of 2010. Churches and police stations were turned into makeshift morgues, the smell of decomposing corpses heavy in the warm air. Thousands of survivors took refuge in shelters. The atmosphere was mournful as the extent of the disaster became apparent in Teresopolis, a mountain towndevastated by the mudslides. Bodies piled up in makeshift morgues while, crowds of people desperate to learn the fate of loved ones gathered outside.-Reuters
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Malik stressed on High Commissioner of Pakistan to India that some handful of terrorists want to destabilise both the countries urging we will not allow them to succeed in their nefarious designs. No foreign elements will be allowed to use our soil, he added.-APP
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forces killed one of the rebels' main leaders, Nawab Akbar Khan Bugti, later that year. Security forces arrested Bugti's grandson Shahzain last month, but officials say there is no connection between the stepped up attacks and his detention. Militants have also increasingly attacked teachers, college professors and other school personnel, disrupting the province's education system. New York-based Human Rights Watch (HRW) in a report in December said militants killed at least 22 teachers and other education personnel in the past two years.-Reuters
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India pulling wool over world's eyes: Geelani
Delhi chewing hard over IHK troop-cut Indian army chief tempers hopes of promt pullout
ISLAMABAD: PM Gilani talking with CJP Justice Iftikhar Chaudhry and Fazalur Rehman at the wedding ceremony of son of Justice Tassaduq Hussain Jilani. APP
Global food supply worries played down
FAO sees no 2008 in 2011 TOKYO: A senior official of the UN's food agency Friday played down concerns that tighter supplies of food could lead to a repeat of the 2008 food crisis because stocks were ample. Last week, the UN's Food and Agriculture Organisation said global food prices reached their highest levels since its records began in 1990 and that grains prices could climb further as adverse weather patterns give cause for concern. Food inflation has risen to the top of the agenda for many policymakers with memories still fresh of the 2008 food crisis, when soaring prices sparked riots in several countries, high inflation and in several cases deep trade deficits. In an interview with Reuters in Tokyo, Hiroyuki Konuma, the FAO's regional representative for Asia and the Pacific, acknowledged that food supply and demand was tight. But he said the situation was not as severe as 2008 because grains stocks were sufficient at the equivalent of about a quarter of annual production.
"In general, the supply/demand situation of food grains has become very tight at the moment but enough stocks means there is no cause for alarm," Konuma said. "We still maintain sufficient stocks, which is about 25 per cent of annual production. As long as there are sufficient stocks, that means the world has enough food still to feed the people." Still, he said if stocks continued to drop over the next couple of years, there would be cause for concern. Konuma, FAO assistant director-general and regional representative, based in Bangkok, said it was too early to say if the index had continued to rise in January. "There could be additional external factors that may cause a potential further increase in prices, but it's premature to say," he said. Rises in wheat and crude oil prices are the key concerns but they are still below their peaks hit in 2008, while prices of rice, the staple food in Asia, have fallen See # 7 Page 11
Govt agri stakeholders meet
Team sought to run cotton affairs ISLAMABAD: National Assembly Standing Committee on Food and Agriculture has recommended the constitution of a Joint Research and Investigation Team to submit workplan within one month to run the cotton programmes in the country. The committee comprising representatives of Ministry of Food & Agriculture, Pakistan Central Cotton Committee, Pakistan Agriculture Research Council (PARC), and other organisations of Provinces met here Friday. The meeting with Javed Iqbal Warraich in the chair, also discussed the Cotton Policy of the Government, different sowing times of cotton and longterm effects of conventional, Bt, and hybrid cotton varieties. The meeting further noted with concern that Bt cotton was grown unofficially on 80 per cent area of Sindh and 60 per cent area of Punjab, thus the viral attack is likely in entire area.
The committee expressed concern that this year the target of cotton has not been satisfactory and there are different reasons for crop failure and to make the matters worse, none of them has been addressed so far. One of the permanent causes of crop failure has been the seed sector, which, unfortunately, still remains as neglected. The committee expressed dissatisfaction over the big gap in pesticide application/equipment. The committee took exception to difference in target and achievement made regarding cotton production saying the data is not authenticated. It expressed severe reservations over the fact that Sindh Cotton Committee has no data about cotton yield production in Sindh and same should be provided to all members. The Committee recommended that in case of organic cotton the area of See # 8 Page 11
Mudslide massacre has Brazil in dumps TERESOPOLIS: Brazil is suffering its worst-ever natural disaster after mudslides near Rio de Janeiro killed more than 500 people, the latest toll showed Friday. Municipal officials in the Serrana region just north of Rio said at least 506 people were killed, surpassing the 437 killed in a 1967 mudslide tragedy that had been previously considered Brazil's biggest disaster. More bodies were expected to turn up as rescuers finally reached villages cut off because of destroyed roads and bridges in the region. Frantic efforts to locate survivors and bodies braved the risk of further mudslides, as rain continued to fall on the waterlogged region, making it even more unstable.
"It's very overwhelming. The scenes are very shocking," President Dilma Rousseff said after visiting the area Thursday. She pledged "strong action" by her government, which has already released 470 million dollars in initial emergency aid and sent seven tonnes of medical supplies. The catastrophe was seen as her first big test since taking power two weeks ago, replacing her popular predecessor, Luiz Inacio Lula da Silva. Storms early Wednesday dumped the equivalent of a month's rain in just a few hours before dawn, sending mudslides slicing through towns and hamlets, destroying homes, roads and bridges and knocking out telephone and See # 9 Page 11
Gas pipeline blown up in Dera Bugti QUETTA: Separatists rebels blew up a natural gas pipeline and a gas well in Dera Bugti district on Friday, officials said, the latest in a wave of attacks in the mineral-rich province. "The 20-inch diameter pipeline was blown up early on Friday which connects 10 gas wells to a major gas purification plant in Dera Bugti district," Home Secretary Akbar Durrani told Reuters the pipeline had connected 10 gas wells to a major gas purification plant in Dera Bugti district. It was not clear how much of the plant's production was disrupted or how much gas the wells supplied. Militants also blew up a gas well in Uch district. The militant Baloch Republican Army claimed Friday's attack, its sixth in less than a week. The group is waging a lowscale separatist insurgency for decades in the country's poorest but mineral-rich southwestern province, which supplies much of country's natural gas. They want greater autonomy and control of the province's abundant natural gas and mineral resources, which they say are unfairly exploited to the benefit of other provinces. Attacks on government infrastructure, including gas pipelines and power pylons were frequent in 2006, but have since ebbed after Pakistani See # 11 Page 11
NEW DELHI: India could reduce troops in parts of Kashmir and allow greater access to visitors from the Pakistani side, a top official said on Friday, as part of a political solution to months of violent anti-India protests. But India's army chief tempered expectations of an immediate withdrawal, saying there was "no need" to reduce the troops deployed. More than 100 people were killed in the protests, which started in June and were the biggest since an armed revolt against Indian rule erupted in 1989 in the majority Muslim region. The unrest has quietened down following official promises of a political solution, but could flare again if India does not come up with a credible plan. Renewed strife in the region would put the Indian government under further pressure as it tries to fend opposition attacks over corruption charges and public anger at high inflation. Home Secretary GK Pillai told Reuters the government was looking
at cutting troops by "25 percent in 12 months from populated areas". The Himalayan region is at the heart of a six decade territorial dispute between India and Pakistan. "If we can manage with local police, that would be the most ideal situation, and this is one of the confidence-building measures, that people don't get harassed by the overpresence of security forces," Pillai later told reporters. "If peace comes, if violence is not there, people are comfortable; we can gradually reduce our presence and make sure that all forces are there only at the border for preventing infiltration." Pillai said the government was also considering giving Pakistani Kashmiris six-month, multiple entry permits to visit relatives on the Indian side. They now get a 15-day permit. But speaking at a news conference the same day, India's army chief dampened expectations of an immediate troop reduction. "We have not felt the need so far to reduce the deployment. If they want
to reduce paramilitary and police, I won't say anything," said VK Singh told reporters in New Delhi. Kashmiri separatists dismissed Pillai's offer and sought full withdrawal of Indian forces, numbering about half a million, including soldiers across the disputed region. "India is trying to hoodwink the international community by announcing such things," Syed Ali Shah Geelani, a senior separatist leader seen as the face of the June protests, said. Last month, India's Home Minister Palaniappan Chidambaram said the contours of a political solution to the protests were expected within a few months. India announced an eightpoint confidence-building initiative in September that helped calm the June protests. It scaled back security in the region, offered talks, gave compensation to the families of dead protesters and promised to review the scope for limiting a much-hated law that gives the military sweeping powers to search, arrest or shoot.-Reuters
HC to India calls on Interior Minister
Malik very wary of Hindu extremism ISLAMABAD: Federal Interior Minister Rehman Malik Friday met with the High Commissioner (HC) of Pakistan to India Shahid Malik and discussed host of issues like investigation on Mumbai attacks, Samjhota Express inquiry report, and Pak-India relations. According to sources High
Commissioner to India briefed Interior Minister on the progress of judicial commission which Pakistan is to send to India in connection with Mumbai terror attacks. Interior Minister informed him about the readiness of Pakistan to send the Commission to India. Rehman Malik expressed his grave
concern on the growing Hindu extremism as widely reported in the Indian media. Interior Minister went on to say that now it is imperative that both the countries must cooperate with each other for the security of the region. Sources further added that Rehman See # 10 Page 11
Levies lady constable, kin killed in Hangu HANGU: Six individuals including Levies Lady Head Constable were killed when two unidentified armed men opened fire in a house here on Friday in Tootkus, Hangu. As per media reports, two unidentified gunmen by breaking into the house of Levies Lady Head Constable opened fire killing her, her two sons, two daughters, a relative (woman) while a kid suffered injuries. The kid was shifted to the District Head Quarter Hospital Hangu for treatment. After the incident, police surrounded the area but the armed men have fled away before their arrival. -Online
Kazakhistan to carry out referendum on president ASTANA, Kazakhstan: Kazakhstan's parliament Friday voted to permit a referendum on prolonging the rule of President Nursultan Nazarbayev to 2020 and scrapping two elections, in defiance of US criticism.-APP
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