International Karachi, Tuesday, February 15, 2011, Rabi-ul-Awwal 11, Price Rs12 Pages 12
Musharraf eyes Lhr visit this yr
Public Holidy announced in Sindh today Qadri indicted in Taseer case Finance committee meet defered
See Page 12 See Page 12
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PPP Secy Info says US citizen has diplomatic visa
Economic Indicators Forex Reserves (5-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 10) Imports (Jul 10-Jan 10) Trade Balance (Jul 10-Jan 10) Current A/C (Jul 10- Dec 10) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Jan 11) Foreign Debt (Sep 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
$17.31bn 14.55% $13.23bn $22.55bn $(9.32)bn $26mn $6.12bn $1.05bn Rs 765bn $58.41bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.17mn
Govt stance on David softens Fauzia sees no future of Qureshi in party
Portfolio Investment SCRA(U.S $ in million)
197.27 -3.48 0.37 3093
Yearly(Jul, 2010 up to 11-Feb-2011) Monthly(Feb, 2010 up to-11-Feb-2011) Daily (11-Feb-2011) Total Portfolio Invest (5 Jan-2011)
NCCPL (U.S $ in million)
FIPI (14-Feb-2011) Local Companies (14-Feb-2011) Banks / DFI (14-Feb-2011) Mutual Funds (14-Feb-2011) NBFC (14-Feb-2011) Local Investors (14-Feb-2011) Other Organization (14-Feb-2011)
-0.05 -3.68 2.35 -1.46 0.17 2.78 -0.11
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 11,946.09 10,725.54 23,121.06 18,202.20 2,711.16 2,899.13 6,052.88 12,273.26
Change 2.75 119.89 292.14 473.59 16.55 71.81 10.02 43.97
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 110.21 17.96 141.66 2.00 42.39 1.75 36.03 11.06 37.49
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
09-Feb-2011 09-Feb-2011 09-Feb-2011 29-Nov-2010 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011 14-Feb-2011
13.53% 13.69% 13.86% 14.00% 13.24% 13.62% 13.76% 14.14% 14.26% 14.21% 14.25% 14.25% 14.61% 14.78% 14.97%
Commodities *Crude Oil (brent)$/bbl 102.21 *Crude Oil (WTI)$/bbl 85.52 *Cotton $/lb 189.12 *Gold $/ozs 1,362.90 *Silver $/ozs 30.30 Malaysian Palm $ 1,288 GOLD (NCEL) PKR 37,262 KHI Cotton 40Kg PKR 12,325
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 85.00 Canadian $ 85.75 Danish Krone 15.40 Euro 114.50 Hong Kong $ 10.70 Japanese Yen 1.006 Saudi Riyal 22.70 Singapore $ 65.90 Swedish Korona 13.10 Swiss Franc 88.50 U.A.E Dirham 23.20 UK Pound 136.50 US $ 85.40
Sell (Rs)
86.00 86.75 15.70 116.00 11.20 1.031 22.95 66.90 13.50 89.50 23.50 138.00 85.70
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
85.29 86.09 15.40 114.81 10.89 1.019 22.62 66.27 13.08 87.27 23.10 136.31 84.77
85.49 86.29 15.43 115.09 10.91 1.021 22.68 66.43 13.11 87.47 23.16 136.63 84.96
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
13°C 26°C 21°C 20°C 11°C 13°C
MIN
9°C 14°C 9°C 13°C 2°C 11°C
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ISLAMABAD: General Khalid Shamim Wyne, Chairman Joint Chiefs of Staff Committee called on President Zardari at Aiwan-e-Sadr. -APP
Export Oriented Projects
Loan cap raised to Rs1.5 billion Staff Reporter KARACHI: State Bank of Pakistan on Monday has decided to increase the maximum financing limit to a singleexport-oriented project under the Long Term Financing Facility (LTFF) Scheme for Plant & Machinery from Rs1000 million to Rs1500 million In this regard, SMEFD circular letter No 04 issued to all banks/ DFIs. However, banks/ DFIs may continue to provide financing facilities as per their credit policies over and above the said maximum limit from their own sources subject to adherence of Prudential Regulations. State Bank of Pakistan through another circular letter (SMEFD Circular Letter No. 05 of February 14, 2011), has
also decided that the banks/DFIs may entertain financing requests of New Project or Expansion/ BMR of existing projects on the basis of projected exports based on the following criteria: Minimum Export Target [viz. annual exports of $5million or 50 per cent of sales, whichever is lower] will be met within a maximum period of four (04) years, from the date of grant of refinance from SBP-BSC (Bank), in a phased manner. Furthermore, State Bank of Pakistan has revised/ improved the Credit Guarantee Scheme (CGS) for Small and Rural Enterprises. The Scheme has been revised/ improved in the light of the recommendations of the Technical Committee on Credit Guarantee represented by See # 7 Page 11
‘Safeguarding workers interests’
SOEs uplift, a priority: Qamar ISLAMABAD: Government was determined to safeguard the interests of the workers by empowering them through free of charge distribution of 12 per cent shares of SoEs among the workers under Benazir Employees Stock Option Scheme (BESOS), making them eligible to get due dividend and ensuring their representation on the Board of Directors of the respective entity. This was stated by Federal Minister for Privatization Syed Naveed Qamar during an informal chat with a group of media representatives here Monday. The mode of Public Private Partnership (PPP) is meant to improve the operational capacity, financial position, utilising the optimal capabilities of the
respective State Owned Entities (SoEs) for making them profitable by increasing their production. Syed Naveed Qamar said that the fears and doubts of the workers of SoEs were genuine as they have witnessed massive retrenchments as a result of the past privatisation of various transactions. The minister said that almost every Labour Union of SoEs always point out regarding the corruption, mal practices by the respective management and blame them of making the units loss making, therefore, the restructuring process underway in the SoEs would ensure professional management from the private sector to See # 8 Page 11
Former FM refuses immunity for Davis
Qureshi seeks justifications ISLAMABAD: Former foreign minister Shah Mehmood Qureshi has disclosed that he refused to accept a demand of Secretary of State Hillary Clinton to sign the letter of immunity for US national Raymond Davis. In an interview with a private TV channel, Qureshi said whatever he said was in the interest of the country and the party, and he stands by his statement. Foreign minister expressed his surprise over statements by
some PPP leaders leveling allegations against him. He said he was not annoyed over the party decision and ready for scrutiny. He, however, said wanted to know why he was removed as foreign minister. Qureshi said after the reshuffling of the Cabinet he met the party leadership and presented his point of view. He said his conduct should not be compared with former president Farooq Ahmad Leghari who dismissed See # 9 Page 11
India let Rahat Fateh off the hook ISLAMABAD: Pakistani singer Rahat Fateh Ali Khan has been released by Indian authorities after he was held for allegedly carrying a large amount of undeclared foreign currency, according to the media sources. According to news, Khan and two of his companions were released, but the singer's passport has been held, pending further investigations. Khan is also barred from leaving India, and is set to appear before the Directorate of Revenue Intelligence (DRI) on February 17. Pakistani officials prevented from meeting Rahat Fateh Ali Khan. Indian authorities Monday disallowed Pakistani High Commission officials from meeting detained Pakistani singer Rahat Fateh Ali Khan earlier in the day. Pakistani Foreign Secretary Salman Bashir asked for the immediate release of Pakistani singer Rahat Fateh Ali Khan from Indian custody. He made this demand during a meeting with the Indian High Commissioner in Islamabad. Bashir also said a two-member body had been formed to keep in touch with Indian authorities over the issue. Earlier Sunday, noted Pakistani singer Rahat Fateh Khan was detained at the Indira Gandhi International Airport by Revenue Intelligence sleuths for allegedly carrying a huge amount of undeclared foreign currency in violation of local currency laws. -Agencies
Security threats
Australian consulates in Khi, Lhr closed down ISLAMABAD: Owing to the security circumstances, Australia has closed its Karachi and Lahore Consulates and has strictly directed its nationals to leave Khyber-Pakhtunkhwa and Balochistan provinces. A private TV channel claimed Monday that Australian government has directed its citizens to immediately leave KhyberPakhtunkhwa and Balochistan provinces in Pakistan due to the deteriorating security situation in these provinces Australians in Pakistan have also been directed to not visit sensitive locations in Pakistan except airports, to avoid unnecessary photography and limit their activities. -Agencies
KARACHI: Pakistan Peoples Party Secretary Information Fauzia Wahab has said that the US citizen Raymond Davis arrested for killing two Pakistanis in Lahore last month has official diplomatic visa. Addressing a press conference here Monday, she said that Pakistan is among those countries, which has signed the Vienna Convention, under which all diplomats enjoy immunity and cannot be arrested in any way. "Raymond Davis is a member technical staff of the US embassy and enjoys immunity", she asserted. However, she said the case of Raymond Davis is in the court which will decide his fate. "We have always abided by international laws and conventions," Pakistan People's Party (PPP) spokeswoman Fauzia Wahab told reporters. "Davis has an official busi-
Munter meets Foreign Secy
Seeks Stance on Davis ISLAMABAD: In backdrop of former foreign minister Shah Mehmood Qureshi's statement that records in foreign ministry did not prove Raymond Davis a diplomat to be eligible for immunity, US has sought the government's official stance in this regard. According to well-placed sources, US Ambassador to Pakistan Cameron Munter on Monday held a detailed meeting with Foreign Secretary Salman Bashir and, inter alia, sought official stance of the Ministry on the status of the American national. This was the first high-level interaction between the American and Pakistani authorities after departure of See # 10 Page 11 ness visa, so why argue and million Pakistani living in the why we are risking our overall United States, it is a big market good reputation before the rest for our products and our 80 per of the world?" cent funds come from there", "America is the largest mar- she added. ket for Pakistan, with whom we Referring to former foreign earn four billion dollars. Most minister Shah Mehmood Pakistanis who live in the Qureshi, she said that he vioUnited States send bulk of lated the party discipline and remittances to us to support our new foreign minister to be economy," said Wahab. appointed soon, saying in poli"It is very sensitive issues tics policies matter not personwith reference to the Pak-US alities. relations. There are about one See # 3 Page 11
TAPI GAS PROJECT
Oil-linked gas pricing sought ASHGABAT: Turkmenistan is seeking a price-linked fuel oil or naphtha for the natural gas it plans to sell to India through a $7.6 billion pipeline passing through Afghanistan and Pakistan. India has rejected the demand as the Technical Working Group (TWG) on the TurkmenistanAfghanistan-Pakistan-India (TAPI) gas pipeline got underway in Ashgabat on Monday, reported PTI. Official sources said Turkmengas, the national oil firm of Turkmenistan; first sought a price linked to fuel oil but later changed it to naphtha reasoning that natural gas was meant to replace these liquid fuel power plants.
India however turned down the demand saying its refineries were already producing surplus naphtha and saw no logic in linking the price of natural gas to it. Turkmenistan later changed track seeking a price equivalent to the delivered price of liquefied natural gas that India currently imports under longterm contract from Qatar and will be shipping from Australia in couple of years. LNG from Qatar costing a shade lower than $8 per million British thermal unit and price of Australian LNG pegged around USD 16 per mmbtu - four times the prevailing rates for domestic gas. See # 4 Page 11
Public money be spent on people's welfare: CJ
SC tells SBP to render full facts ISLAMABAD: Chief Justice of Pakistan, Justice Iftikhar Muhammad Chaudhry has said that all the loans waived by banks were given out of the public money and must be spent for the public welfare. Chief Justice said that State Bank should give the accurate facts otherwise the court would summon the Governor State Bank for explanation. He added that the court cannot allow the plundering of public money. A four-member Supreme Court bench, chaired by the Chief Justice Iftikhar
Muhammad Chaudhry, was hearing the case of written-off loans on Monday. During the hearing lawyer of the State Bank Iqbal Haider did not provide the complete list of loan-waiver beneficiaries to the court. He submitted that waiving of loans was legal as it was done under the circular number 29 of the State Bank. Justice Khalil-ur Rehman Ramday said that it was hard to believe that billions of rupees were waived off under the umbrella of law. See # 5 Page 11
Hajj Scam:
Gilani’s son summoned ISLAMABAD: Federal Investigation Agency (FIA) has issued summons of Abdul Qadir Gilani, son of Prime Minister Syed Yousuf Raza Gilani in Hajj corruption scandal, media reported on Monday. FIA sources revealed that Abdul Qadir Gilani had been asked for recording his statement in Hajj scandal but he
failed to appear; his summon has been issued. According to the media reports, Abdul Qadir Gilani allegedly received Rs20 million from former DirectorGeneral Hajj Rao Shakil Ahmad and imported a costly vehicle from the United Arab Emirates (UAE) last year. See # 6 Page 11
Pak hopes to reschedule talks with USA ISLAMABAD: Pakistan said Monday it hoped that postponed talks with the United States and Afghanistan would be rescheduled soon, despite a deepening diplomatic crisis over the ongoing detention of a US official. The US State Department postponed the talks, set for this month, following failed attempts to get Pakistan to release Raymond Davis, who is accused of double murder and has been held in Lahore. The annual talks, in which ministers and other top officials review the war in Afghanistan and the See # 2 Page 11
KSE invites tax proposals Staff Reporter KARACHI: The Karachi Stock Exchange (KSE) has invited specific comments and proposals on tax including Federal Excise Duty (FED) from its members by February 23. According to KSE, these proposals must be supported by their rationale for review and consideration of the Tax Committee of KSE board and board of directors for onward submission to the concerned tax authorities for inclusion in the Finance Bill 2011.
Malik meets Shaikh ISLAMABAD: Federal Interior Minister Rehman Malik on Monday met Federal Minister for Finance Dr Abdul Hafeez Shaikh in which issues pertaining to Interior Ministry and others came under discussion. According to sources both the ministers threw light on immediate provision of funds for enhancing the capabilities and performance of security agencies thick and thin. On the other hand, Federal Minister for Finance Dr Abdul Hafeez Sheikh assured Rehman Malik of all out cooperation to cater to the needs of the Interior Ministry as it is undoubtedly the most sensitive Ministry of the country. -Online
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Tuesday, February 15, 2011
Japan gives $45mn for affectees Staff Correspondent ISLAMABAD: As winter prevails, the needs of the 20 million flood affectees have been growing. The Government of Japan has very generously addressed the need of the nation during this critical time by providing the UN-HABITAT funding of $45 million to assist the affectees. This substantial amount will go towards early recovery involving shelter, water, sanitation, hygiene, and land and community infrastructure. Six months after the monsoon floods of 2010, the humanitarian community is moving towards an 'early recovery' phase. UNHABITAT is increasing the provision of one room shelters to vulnerable households and is providing adequate shelters to extremely vulnerable households. Through the restoration and rehabilitation of water, sanitation and hygiene for the flood affected families, UN-HABITAT flood relief activities aim to reduce the incidence of mortality and
4.4 million hepatitis patients present in Sindh
morbidity due to waterborne diseases among communities by providing safe drinking water and basic sanitation. Efforts will be increased in assisting local governments, community organizations and the private sector through capacity building, institutional strengthening and training. Sustainable community recovery and return of IDP's will be facilitated through the rehabilitation KARACHI: Sindh Governor Dr Ishratul Ebad Khan administering oath to Justice Mushair Alam as Chief Justice of Sindh High of community infrastrucCourt during a ceremony at SHC. Sindh Chief Minister Syed Qaim Ali Shah is also present on the occasion.-APP ture and cash for work programmes targeting debris removal. Furthermore, ensuring that returning IDP's have equal rights to housing, land and property, security of tenure and equal access to inheritance is an integral part of the project goals as well. The Government of Japans funding will be instrumental in helping UN-HABITATs flood relief activities progress and expand to reach a broader Staff Correspondent as a vital underpinning for interaction. Investment Seminars in population and affectively the bilateral relationship Prominent members of both the countries and address the basic emergency and rehabilitation ISLAMABAD: Pakistan between Pakistan and the Chamber informed organizing a BOI Mission about their respective to Pakistan. needs of the flood affectees. and Thailand have agreed Thailand. to promote mutual investIn this context, he partic- investments, both already Secretary General ments as part of the overall ularly highlighted the in place and prospective. Atchaka also provided a effort to strengthen bilater- desire at the leadership Secretary General BOI Dr. comprehensive briefing al trade and economic level in both countries to Atchaka Sibunruang, for on the BOI Fair 2011, a relations. further deepen and broad- her part, underlined the mega event that would This was agreed during a en trade and economic importance of BOI-TPCC provide multi-dimensionmeeting between cooperation; the steady interface and noted that al opportunities to the pardend will be paid to the Secretary General of growth in bilateral trade Thailand was pursuing a ticipants to showcase their Board of volume; and the impor- policy of promoting both countries, companies, and certificate-holders whose Thailand's names appear in the Investment (BOI) Dr. tance of platforms like inward and outward the culture. The Pakistan delegation assured the Register of Members of Atchaka Sibunruang and a Joint Trade Committee investments. led by (JTC)and Joint Business She evinced keen inter- Secretary General that PICIC Growth Fund, delegation Pakistan's Ambassador to Council (JBC). est in the businesses of the every effort will be made PICIC Investment Fund The Ambassador also TPCC members and to ensure meaningful parand PICIC Energy Fund at Thailand Sohail Mahmood consisting of members of stressed the need for fre- assured them all possible ticipation from the close of business on the Thai-Pakistan quent exchanges and inter- facilitation from the BOI Chamber and from March 04, 2011. Chamber of Commerce face between the private in further consolidating Pakistan in the BOI Fair in Certificate Transfer (TPCC). sectors of the two coun- and expanding such November 2011. Register of PICIC Growth The purpose of the meet- tries to enhance informa- investments. Secretary General Fund, PICIC Investment ing was to review the state tion-sharing and awareDuring the meeting, the Atchaka was accompanied Fund and PICIC Energy of investments in Thailand ness of opportunities for two sides identified sever- during the meeting by senFund will remain closed and Pakistan to identify building stronger trade and al sectors for special focus ior officials of BOI dealfrom March 05, 2011 to ways through which these investment ties. - including food process- ing with South Asia and March 12, 2011 (both days investments could be furChaudhry Sabahat Elahi, ing, seafood, automotives, International Cooperation. inclusive) for determining ther promoted in various President of the Thai- textiles, leather products, The Pakistan delegation the entitlement of interim sectors in both countries. Pakistan Chamber of hotels/hospitality, and included long-standing In his remarks, Commerce, briefed about tourism. With a view to Pakistani investors and cash dividend. Certificate Sohail the evolution of the TPCC enhancing mutual aware- businessmen as well as holders are requested to Ambassador notify change of address, Mahmood stressed the and its myriad activities to ness, the two sides agreed Embassy's Commercial if any, to Fund's Registrar importance of robust eco- promote trade, invest- to take several measures Counsellor, Syed Zafar nomic interaction serving ments and commercial including holding of Ali Shah. Office:
Pak-Thai agreement to promote mutual investment
Cash dividend on 3 PICIC Funds TFD Report KARACHI: The Board of Directors of PICIC Asset Management Company Limited, Management Company of PICIC Growth Fund, PICIC Investment Fund and PICIC Energy Fund in their 43rd meeting here declared interim cash dividend @12.50% (i.e. Rs.1.25 per certificate) of PICIC Growth Fund, @7.50% (i.e. Re.0.75 per certificate) of PICIC Investment Fund and @10% (i.e. Rs.1.00 per certificate) of PICIC Energy Fund for the year ending June 30, 2011. The interim cash divi-
Record unloading at PQA KARACHI : February 10 was a landmark day at the FAP Terminal at Port Qasim when 2 vessels with a combined length of 350 meters were berthed simultaneously at its jetty. The 'KT Albatross' was discharging oilseeds imported from Canada while 'Transocean' was loading wheat for export. The Terminal also broke its own single day unloading record by discharging 17,000 metric tons of oilseeds in 24 hours between February 11 and February 12. The FAP Terminal was inaugurated on October 26, 2010.-PR
IBA opens academic block at City Campus TFD Report
education for senior and middle level management in corporate, private and public sector. The block fosters IBA's commitment to provide world-class facilities for the uplift and maintenance of its high standards. Dr. Ishrat Husain, the Dean and Director IBA, welcomed the guests on the occasion. He gave an overview of IBA's strategy for the next three years and the landmarks that have been achieved so far. Speaking on the occasion Pir Mazhar ul Haq applauded the efforts of concerned architects, engineers and project teams for their commendable job. He said that the thing which really distinguishes the Institute of Business Administration from most other business schools is not its buildings and its equipment but the high caliber of its students, faculty and administrative culture that is dynamic and responsive to change.
Time Programmes
KARACHI: Pir Mazhar ul Haq, Minister for Education and Literacy, Government of Sindh, inaugurated the newly furbished Academic Block at IBA City Campus on Monday. The building is constructed over a covered area of 32,291 sq-ft, and has been fully renovated at a cost of Rs. 59 million. The centrally air conditioned Academic Block, houses six class rooms, eight breakout rooms and two seminar halls which are equipped with modern audio-visual facilities to enhance the overall learning experience. It also carries one video conferencing hall that enables students to attend lectures delivered by renowned academicians across the world. The Center for Executive Education (CEE) is also built within the premises of this facility; the center serves as a primary source of business
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KARACHI: CEO of the JOFA Group of companies Asim Jofa, Brand Ambassador Jofa Lawn Iman Ali, CEO Catewalk Productions Fariha Altaf and Farrukh on the occasion of Jofa Lawn lunching ceremony.-Staff Photo
TV PROGRAMMES TUESDAY News News Subah Savere Maya ke Sath News Hal Kya Hai (Rpt) News Newsbeat (Rpt) Tonight With Jasmeen (Rpt) News News Samaa Metro News Aap Ki Baat News Hal Kya Hai Crime Scene Newsbeat News Tonight With Jasmeen News 24
Muneer welcomes Indo-Pak talks Staff Reporter KARACHI: The resumption of dialogue between Pakistan and India at Thimpu on Secretary Level will help resolve the issues between both the countries. This was stated by SM Muneer, President of IndiaPakistan Chamber of Commerce and Industry while appreciating the dialogue initiated on Secretary Level which reflects the willingness of the governments of both the countries to make a roadmap leading to progress and prosperity.
Wi-tribe in Faisalabad KARACHI: Wi-tribe, recognized as Pakistan's No.1 broadband company for service quality, has launched services in Faisalabad, its 5th city of operations after Karachi, Lahore, Islamabad. With an aim to enhance online access for both personal and business use, witribe is focused towards expanding its quality-driven network, in line with a strategic plan to provide an affordable range of broadband services to more customers in all their cities of operation. Talking about wi-tribe's expansion in Pakistan, VP Sales and Marketing, Wahib Aslam said, "We are really excited about introducing our services to Faisalabad and take this opportunity to invite the local community to join the tribe.-PR
KARACHI: There are estimated of 4.4 million hepatitis patients in the province and many more are at high risk due to poor awareness about the disease, said Sindh Health Minister Dr. Saghir Ahmed on Monday. Addressing a seminar on public awareness about health issues, organized by Institute of Cost and Management Accountants (ICMA), he said that public in general was yet to fully realize that there were different types of disease with different modes of transfusion. "The Sindh Health Department has taken an initiative and arranged provision for timely and updated screening facilities for those at risk," he said. Dr. Saghir Ahmed said that besides PCR tests for possible hepatitis patients, adequate treatment facilities were also being provided in the government hospitals across the province. He said the private sector, including the members of institutions like ICMA, could be of great help to make these facilities sus-
tainable as the number of Hepatitis B and C patients was growing fast. The health minister reiterated that there was a need to raise awareness about different diseases so as to control them and protect precious human lives. He said," diseases become complicated due to lack of knowledge and information". The minister also referred to general tendency to ignore health conditions till they turn to be complicated. Dr. Saghir in response to a suggestion made by participants agreed that provision for Community Health Workers could be of great help in raising awareness about ailments and their timely referrals.Senior hematologist Dr. Saquib Ansari, ophthalmologist Dr.Mohamamd Shahnawaz Munami, cardiologist Dr. Khawar Abbas Kazmi and Dr. Naveed Ahmed made their presentations on thalessaemia and bone marrow transplantation, primary eye care, cardiovascular diseases, hypertension and obesity.-APP
APNS condoles death of Yusuf Haroon Staff Reporter KARACHI: Sarmad Ali, Secretary General, All Pakistan Newspapers Society has expressed his profound grief on behalf of the office-bearers over the sad demise of veteran politician, former Governor of West Pakistan and past President of APNS, Yusuf Haroon after a protracted illness. Yusuf Haroon was the eldest son of Sir Abdullah Haroon and had closely worked with Quaid-e-Azam Mohammad Ali Jinnah for freedom and creation of Pakistan. During his political career,. Yusuf Haroon played an active role in the struggle for achievement and consolidation of the
new state of Pakistan. He held various positions in the Muslim League as leader of National Guard, leader of Provincial Assembly Party, President of Sindh Muslim League and Vice President of Pakistan Muslim League. He assumed the charge of Chief Editor, Daily Dawn in the year 1967 and was elected President of the APNS for the term 1966-67. He tried to give Dawn an independent posture which annoyed General Ayub Khan and he was expelled from Pakistan on a 24 hour notice. The APNS office-bearers observed that the services of Yusuf Haroon for creation of the country and newspaper industry will be remembered for long.
Meezan Bank announces 15pc bonus shares Staff Reporter KARACHI: The Board of Directors of Meezan Bank Limited under the Chairmanship of H.E Shaikh Ebrahim Bin Khalifa AlKhalifa, in its meeting held on February 11, approved the annual audited accounts of the Bank for the year ended December 31, 2010. The Board also declared 15% bonus shares for its shareholders for 2010, thus raising the paid-up capital of the
Bank to Rs.8 billion against the Rs.7 billion minimum capital requirement of the State Bank of Pakistan (SBP). By doing so, the Bank will now meet SBP's mandatory minimum capital requirement one year ahead of schedule. Meezan Bank recorded 61 per cent growth in its after-tax profit for the year ended December 31, 2010. Profit after tax for 2010 was Rs. 1,650 million compared to Rs. 1,025 million in the previous year.
PESHAWAR: Bilal Mustafa, Managing Director, Bank of Khyber awarding Best Branch of the Year 2010 Trophy to Rehmanullah Khattak, Chief Manager Bank of Khyber Main Corporate Branch Peshawar after Annual Managers Conference -2011 held at Peshawar. BOK Executive Director Javed Hashmat is also present on the occasion.-Staff Photo
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Tuesday, February 15, 2011 Top Economic Events
Euro at 3wk low vs dollar; key data, events eyed US budget proposal a focus, but does not sway NEW YORK: The euro hit a threeweek low against the dollar on Monday as uncertainty over the plight of troubled German bank WestLB and eurozone debt concerns kept investors on edge. Aid for WestLB hangs in the balance, a source told Reuters on Monday, as the bank struggles to come up with a rescue deal ahead of presenting a restructuring plan to the European Commission. The euro slipped 0.7 per cent to $1.3452 with selling coming largely from eastern Europe in the aftermath of the WestLB news. The move triggered stop-losses on the break of $1.3500, taking the euro below support at $1.3483, the 38.2 per cent retracement of its rally from January to February. Stops in the upper$1.34s, a trader said.
Greg Anderson, G10 strategist at CitiFX in New York, said the next technical level should be $134.33. "President Obama's budget plan is taking a backseat to events overseas," he said. President B a r a c k Obama's 2012 budget plan would slash the US deficit by $1.1 trillion over 10 years, officials said on Sunday, but Republicans were unimpressed and vowed to push for deeper cuts in spending. CitiFX's Anderson said the proposal did not sway the dollar and markets await clarity with what happens with negotiations with Republicans in
Congress. Selling in the euro helped to boost the dollar broadly on the day, pushing it up
around 0.34 per cent on the day against a currency basket to 78.734, trading above its 100-day moving average for the first time in four weeks. The dollar was nearly unchanged at 83.40 yen. A 0.3 per cent quarterly contraction in the Portuguese economy at the end of 2010, and a slight monthly fall in euro-
Asian currencies firmer; eyes on capital flows SINGAPORE: Most Asian currencies firmed on Monday as easing tensions in Egypt bolstered investor appetite for risky assets, with market players focusing on trends in capital flows for near-term direction hints. Currencies such as the Indonesian rupiah, the Indian rupee and Singapore dollar edged higher against the dollar, while the Taiwan dollar bucked the broader trend and retreated. "Asia currencies largely strengthened the tension in Egypt appears to have eased following Mubarak's resignation," said Frances Cheung, a strategist at Credit Agricole CIB in Hong Kong. President Hosni Mubarak was swept from power on Friday after 18 days of protests
that had left investors jittery, worried that political instability could spread to other countries in the Middle East. Credit Agricole's Cheung said that while strong economic fundamentals could help push Asian currencies higher in the medium-term, fluctuations in capital flows were a key theme in the short term. Data compiled by fundtracker EPFR Global showed that investors continued to shift their funds into developed market stocks while pulling money out of emerging market equities in the week ended Feb. 9. In the equity space, funds focused on the United States, Europe, Global and Japan took in a net $6 billion or so, while a net $3 billion was pulled out of emerging market equities as
well as $351 million from Pacific equity funds. The dollar fell against the Indonesian rupiah, hurt by selling by foreign players. However, there was talk of good bidding interest for the dollar from local banks, probably related to corporate demand for dollars. The Taiwan dollar fell as foreign money continued to leave the island. Foreign investors sold a net T$21.6 billion of Taiwan shares on Friday, following on from Thursday's net selling of T$16.9 billion, which was the largest singleday net selling in eight months. One trader said foreign investors were heavily buying US dollars on Monday while exporters were not seen in the market. -Reuters
Pound firm as mkt awaits BoE report
Swiss franc slips vs euro
LONDON: Sterling was firm on Monday ahead of UK inflation data and the Bank of England's quarterly report, with expectations for an interest rate rise in the near term providing strong support. Traders said the pound was helped by demand from Middle East accounts. Some also cited sterling-supportive M&A news, with General
Electric Co set to buy the well support division of UK energy services company John Wood Group for about $2.8 billion. Inflation data on Tuesday is expected to show annual CPI jumped to 4.0 per cent in January, well above the central bank's 2 per cent target. Focus, however, will centre on the BoE's inflation report on Wednesday, where it is expected to revise up near-term inflation projections. "If we get a CPI number at 4 per cent, we could see a selloff as this will come at a time
when fiscal austerity measures are kicking in and there is a possibility of stagflation which is bearish for sterling," said Chris Walker, strategist at UBS. "My feeling is everyone will wait for the BoE inflation report on Wednesday which will be very hawkish." Sterling came off lows against the dollar to trade at
$1.6010. It held above the $1.60 level, having closed above there on Friday. Traders said fix-related selling saw the pound fall to a low of $1.5982 earlier in the session. Technical analysts said a drop below $1.60 could pave the way for a move towards $1.5920, the 38.2 per cent retracement of the pound's December-February rally. Against a subdued euro, sterling made solid gains. The euro was down 0.6 per cent at 84.12 pence, not far from last week's low of 83.89 pence.-Reuters
ZURICH: The Swiss franc was trading within sight of a 10week low against the euro on Monday, under pressure after some investors' hopes for a tightening of monetary policy were dampened by weak inflation data last week. Swiss consumer price inflation eased slightly in January as retailers slashed prices in winter sales and a strong franc made imports cheaper, indicating the central bank has little reason to raise interest rates soon. The franc rose some 15 per cent against the euro last year on the back of sovereign debt jitters and hit an all-time high of 1.2400 against the common currency in late December, according to Reuters data. But it has since weakened and has been trading below 1.31 per euro for the last few sessions. The franc was virtually flat against the euro compared to the New York close on Friday, trading at 1.3162 per euro at 0811 GMT. The franc was also little moved against the dollar at 0.9724. Switzerland emerged less bruised from the financial crisis than many other countries in Europe thanks to robust consumer spending, and joblessness remains low. The main economic data release for this week is the ZEW investor sentiment barometer on Feb. 17. -Reuters
NZD hit by weak retail data, Aussie lifted by China WELLINGTON/SYDNEY: The New Zealand dollar struggled on Monday as weak retail sales pointed to interest rates being on hold for many months to come, while the Aussie gained on upbeat economic news from key export market China. China's imports from Australia were up 86 per cent in January on a year earlier at a record $7.2 billion, even as floods in Queensland disrupted coal shipments. There was also talk China would report lower-than-feared inflation for January on Tuesday, which combined with news of regime-change in Egypt to boost stocks and commodities. "There has been a recovery in risk sentiment throughout Asia following on from the standingdown of Mubarak in Egypt on Friday," said John Horner, a strategist at Deutsche Bank. All of which helped the Australian dollar up to $1.0053, from $1.0025 late in New York Friday and an early low of $0.9981. The New Zealand dollar was not so lucky initially dropping half a cent to a three-week low of $0.7544 on the latest in a string of dismal data,
before steadying at $0.7574. A sharp fall in December retail sales added to concerns the economy slipped into recession in the second half of last year, suggesting the Reserve Bank of New Zealand (RBNZ) is likely to leave rates on hold well into 2011. The currency lost 1.2 per cent against the US dollar last week. Analysts have pushed back to September the start of New Zealand's tightening, with markets implying only 52 basis points of rises over the next 12 months. Investors have pushed out the timing of the next RBA move and trimmed expectations for how high rates might ultimately rise. Markets imply 35 basis points worth of tightening over the next 12 months. The Aussie fared well against the yen and the euro. It last traded at 83.54 yen, nearing a ninemonth peak as Japanese investors see an increasing appeal in the high yielding currency. The euro eased against the Australian dollar to A$1.3456 ahead of a massive 17-21 billion euro in fund raising from Italy, Germany, Spain, and France. -Reuters
zone industrial production in December kept euro sentiment sluggish, although the separate figures were largely in line with forecasts. Spanish bond auctions will be a focus for euro-zone investors on Thursday, while investors await details of a European debt rescue fund next month. This week ushers in a flurry of data, with euro-zone fourth quarter GDP due for the euro area Tuesday, when the United States releases New York manufacturing data and retail sales. With global inflation a hot topic, a number of countries will release consumer price index data this week, including the Britain, the United States, Sweden and Canada. The focus later this week will a G20 finance officials meetings on Friday and Saturday. -Reuters
Yuan ends lower, downside seen limited SHANGHAI: The yuan closed slightly lower against the dollar on Monday after the People's Bank of China fixed a weaker mid-point in line with a rise in the US dollar Index. China's trade surplus fell to its lowest in nine months in January after imports surged, supporting government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation. But traders said these developments would not affect the overall trend for the yuan to appreciate at least in the near term as China is expected to use the currency as part its weapons to fight imported inflation. China has taken a slew of steps, including one official interest rate hike and one rise in bank reserve requirement ratios so far this year, to fight against inflation, which is now running at a more than two-year high of around 5 per cent. On top of strong domestic food prices, surging global commodity prices have contributed to stubbornly-high inflation. There was no immediate reaction on the currency front on talk of lower-than-expected inflation in January. Traders said that consumer prices might have risen 4.9 per cent in
the year to January, below the consensus forecast of a 5.3 per cent rise. The official data will be announced on Tuesday. Spot yuan closed at 6.5966 to the dollar, down from 6.5919 at Friday's close. It has risen 3.48 per cent since its depegging from the dollar in June 2010. Before trading began, the PBOC fixed its daily mid-point at 6.5985 to the dollar, down from Friday's 6.5952. Still, many dealers expected that the yuan to find a floor at 6.60 this year even if it occasionally falls below that level, based on China's economic strength and its increasing willingness to move to a more flexible exchange rate regime. Reflecting official estimation of the yuan's value, a unit of a top government think tank said in remarks published on Monday that the yuan was still undervalued but less than 10 per cent. Dollar/yuan offshore forwards rose slightly on Monday to imply slightly less yuan appreciation in the future in line with the spot yuan's performance. Benchmark one-year dollar/yuan non-deliverable forwards were bid at 6.4430 late on Monday, up from 6.4400 at Friday's close. Their implied yuan appreciation in a year's time fell to 2.42 per cent from 2.47 per cent. -Reuters
Indian rupee rises on robust shares MUMBAI: The Indian rupee strengthened on Monday, tracking sharp gains in local shares, but a bearish euro and the dollar's against global currencies pulled it off-highs. The partially convertible rupee closed at 45.49/50 per dollar, 0.4 per cent stronger than its 45.68/69 close on Friday, but off the day's high of 45.42. "We can expect the rupee to strengthen further, but near-term gains could be capped around 45.20/30 levels," said Hari Chandramgathan, a senior foreign exchange dealer at Federal Bank. "The euro is heading south and the dollar index is also moving up, which will weigh against the rupee. But if the bullishness in the stock market persists, it can work well for the rupee." Traders expect the rupee to trade in a range of 45.35-45.60 on Tuesday. A weak euro and
an appreciating dollar weighed on the local unit, dealers said. One-month offshore nondeliverable forward contracts were quoted at 45.70, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange closed at 45.5925, 45.5925 and 45.5900 respectively, with the total traded volume at about $5.1 billion. -Reuters
Time 7:00 Tentative 12:00 14:30 14:30 15:00 15:00 15:00 18:30 18:30 18:30 18:30 19:00 20:00 15th-18th
Source CNY JPY EUR GBP GBP EUR EUR EUR USD USD USD USD USD USD USD
Events CPI y/y Overnight Call Rate German Prelim GDP q/q CPI y/y RPI y/y German ZEW Economic Sentiment Flash GDP q/q ZEW Economic Sentiment Core Retail Sales m/m Retail Sales m/m Empire State Manufacturing Index Import Prices m/m TIC Long-Term Purchases Business Inventories m/m Mortgage Delinquencies
Source
Events
NZD NZD JPY JPY CNY EUR
Retail Sales m/m Core Retail Sales m/m Prelim GDP q/q Prelim GDP Price Index y/y Trade Balance Industrial Production m/m
Forecast 5.3% <0.10% 0.5% 4.0% 5.1% 20.1 0.4% 31.3 0.6% 0.5% 14.7 0.9% 91.3B 0.7%
Previous 4.6% <0.10% 0.7% 3.7% 4.8% 15.4 0.3% 25.4 0.5% 0.6% 11.9 1.1% 85.1B 0.2% 9.13%
Actual
Forecast
Previous
-1.1% -1.2% -0.3% -1.6% 6.5B -0.1%
-0.3% -0.3% -0.5% -1.5% 10.5B -0.1%
Previous Day 1.2% -0.4% 0.8% -2.1% 13.1B 1.4%
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3467 1.3556 0.9709 0.9744 1.6020 1.6075 0.9875 0.9892 1.0028 1.0074 112.2600 112.9400 0.8409 0.8461 1.3071 1.3201 133.5300 133.7600 85.8700 85.9100 1363.7500 1364.3500
Bid 1.3642 0.9705 1.6014 0.9870 1.0024 112.2300 0.8406 1.3066 133.4800 85.8200 1362.9400
Low 1.3429 0.9702 1.5983 0.9851 0.9985 112.1100 0.8400 1.3059 133.2700 85.3900 1353.5500
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 14/02/2011 A USD GBP CAD EUR JPY O/N 0.23300 0.55625 0.96000 0.81250 SN 0.10438 1WK 0.25150 0.57563 1.00333 0.86000 0.11250 2WK 0.25750 0.58313 1.03917 0.86250 0.11563 1MO 0.26475 0.61188 1.08250 0.86625 0.12750 2MO 0.28900 0.68125 1.14833 0.92875 0.15313 3MO 0.31400 0.80338 1.21083 1.04500 0.19000 4MO 0.35350 0.88713 1.27667 1.11750 0.24313 5MO 0.41000 0.99150 1.34000 1.20000 0.30000 6MO 0.46570 1.10838 1.40333 1.29125 0.34625 7MO 0.51900 1.19000 1.49000 1.34875 0.39500 8MO 0.57225 1.27438 1.57000 1.40688 0.44313 9MO 0.63025 1.35750 1.64333 1.47188 0.48875 10MO 0.68475 1.43750 1.73250 1.52688 0.51438 11MO 0.73600 1.50563 1.81833 1.58188 0.54125 12MO 0.79750 1.57438 1.90333 1.64563 0.56875
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada March 1, 2011 Bank of England March 10, 2011 Bank of Japan February 15, 2011 European Central Bank March 3, 2011 Federal Reserve March 15, 2011 Swiss National Bank March 17, 2011 The Reserve Bank of Australia March 1, 2011
September 8, 2010 March 5, 2009 December 19, 2008 May 7, 2009 December 16, 2008 March 12, 2009 November 2, 2010
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, February 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
85.50 136.63 115.08 86.29 87.49 85.49 13.11 1.02 14.51 66.42 15.43 22.68 10.91 12.90 303.53 27.87 64.48 23.36 23.16 0.08 2.77
84.85 136.31 114.81 86.09 87.29 85.29 13.08 1.02 14.48 66.26 15.40 22.62 10.89 12.87 302.82 27.81 64.33 23.30 23.10 0.08 2.76
84.67 136.00 114.53 85.86 87.06 85.06 13.04 1.02 14.44 66.09 15.36 22.56 10.86 12.83 302.02 27.73 64.16 23.24 23.04 0.08 2.75
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 14, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.60 12.80 12.95 13.10 13.35 13.45 13.58 13.65 13.75 14.10 14.18 14.20 14.23 14.23 14.24 14.24 14.25 14.25 14.60 14.80
12.45 12.75 12.90 13.10 13.32 13.47 13.60 13.63 13.75 14.10 14.20 14.25 14.25 14.30 14.30 14.25 14.15 14.25 14.55 14.70
12.35 12.65 12.90 13.05 13.38 13.47 13.57 13.65 13.78 14.08 14.24 14.25 14.27 14.29 14.31 14.25 14.17 14.25 14.60 14.70
12.60 12.75 12.90 13.08 13.42 13.50 13.60 13.66 13.78 14.00 14.22 14.25 14.26 14.28 14.30 14.30 14.20 14.26 14.65 14.90
12.75 12.80 12.95 13.10 13.25 13.45 13.50 13.60 13.70 14.05 14.22 14.22 14.23 14.30 14.35 14.23 14.20 14.26 14.55 14.75
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 12.40 12.65 12.85 13.05 13.37 13.50 13.58 13.65 13.75 14.00 14.22 14.20 14.23 14.27 14.33 14.26 14.24 14.25 14.70 14.85
12.53 12.73 12.91 13.08 13.35 13.47 13.57 13.64 13.75 14.06 14.21 14.23 14.25 14.28 14.31 14.26 14.20 14.25 14.61 14.78
Currencies Correlation USD/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY
week month months months year years
-0.99 -0.49 -0.78 -0.73 -0.73 -0.83
0.81 0.44 0.36 -0.20 0.79 0.81
0.22 -0.28 -0.43 -0.76 0.24 0.42
0.86 0.06 0.13 -0.38 0.67 0.74
EUR/USD GBP/USD -0.47 -0.55 -0.43 -0.78 -0.40 0.05
-0.93 -0.40 -0.25 -0.57 -0.76 -0.23
NZD/USD USD/CAD -0.95 -0.69 -0.72 -0.75 -0.79 -0.80
0.19 -0.07 0.65 0.57 0.33 0.74
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)14/02/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.20
12.70
12.40
12.90
12.70
13.20
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.15
12.65
12.50
13.00
12.70
13.20
13.35
13.60
13.60
13.85
13.75
14.25
13.85
14.35
13.95
14.45
ASPK 12.40
12.90
12.60
13.10
12.80
13.30
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
CIPK
12.30
12.80
12.55
13.05
12.70
13.20
13.40
13.65
13.60
13.85
13.80
14.30
14.00
14.50
14.10
14.60
DBPK 12.30
12.80
12.50
13.00
12.70
13.20
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.30
12.80
12.55
13.05
12.80
13.30
13.45
13.70
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.20
12.70
12.50
13.00
12.75
13.25
13.40
13.65
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
HBPK 12.15
12.65
12.35
12.85
12.80
13.30
13.40
13.65
13.55
13.80
13.65
14.15
13.75
14.25
13.85
14.35
HKBP 12.10
12.60
12.50
13.00
12.70
13.20
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
NIPK
12.35
12.85
12.60
13.10
12.95
13.45
13.25
13.50
13.40
13.65
13.50
14.00
13.60
14.10
13.65
14.15
HMBP 12.20
12.70
12.60
13.10
12.75
13.25
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.40
12.90
12.60
13.10
12.85
13.35
13.30
13.55
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
NBPK 12.15
12.65
12.50
13.00
12.75
13.25
13.40
13.65
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.00
12.50
12.40
12.90
12.65
13.15
13.30
13.55
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 11.80
12.30
12.35
12.85
12.60
13.10
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
AVE
12.72
12.51
13.01
12.74
13.24
13.37
13.62
13.51
13.76
13.64
14.14
13.76
14.26
13.86
14.36
MCBK
12.22
4 Monday, February 14, 2011
The Financial Daily International Vol 4, Issue 183
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi
ALL IS NOT WELL AT PIA H
ardly couple of hours after the police and members of a proHonorary Advisory Board government PIA union brutalS. Muneer Hussain Rizvi Haseeb Khan, FCA ly attacked and baton charged Khurram Shehzad, CFA Asim Abbas Ashary, CPA the striking staff of the national carrier, the controProf. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA Zahid Bukhari SVP HBL (retd) versial Managing Director of Dr. A. Hadi Shahid, FCA PIA decided to quit and tenIsmat Sabir Muhammad Arif dered his resignation Friday night. Head office The resignation of Capt. 111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Eijaz Haroon brought an end Telephone: 92-21-35311893-6 Fax: 92-21-35388428 to 4 days of complete strike URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com by the PIA staff during which the airlines suffered a loss of Lahore office around two billion rupees due 24- Peshawar Block, Fortress Stadium, Lahore to cancellation of all internaTelephone: 92-42-6675595 Fax: 92-42-6664349 tional and domestic flights Email Address: editor@thefinancialdaily.com causing agony to thousands of passengers who were stranded at various airports in the country. To me it seems that the matter has not yet resolved completely. The Director General of Civil Aviation Authority (CAA) has been named as the new chief of PIA and Capt. Eijaz Haroon is being tipped to head the Civil Aviation Authority, an appointment which has out rightly been rejected by the PIA staff's Joint Action Committee. The PIA staff feels that
Least fixed wage, when?
In Pakistan due to double digit inflation purchasing power of an ordinary person is eroding fast. On one hand employment opportunities are on the decline due to economic slowdown and extensive load shedding of electricity and gas, and on the other prices of daily consumption items are skyrocketing due to government's inability to check profiteering. It is heartening to note that Honorable Chief Justice of Pakistan, Iftikhar Mohammad Chaudhry has realised that monthly salary of a security guard may be fixed at Rs7,000 contrary to the current Rs,3000. Interestingly, federal and provincial governments have also realised that actions should be taken against those employers who don't ensure minimum wages fixed by the government. Currently, meeting both ends has become increasingly difficult, which is proliferating corruption in the country. This is partly because many of the facilities offered in various countries like healthcare/education have to be acquired at a fabulous price because government schools and hospitals just can't take care of all and sundry because of minuscule budget and massive corruption. Irony of the fate is that everyone is aware of the bribery but no steps are taken against those demanding 'speed money' etc. In fact now government employees pay bribes to higher officials for their posting at 'high yielding' positions and are also willing to share part of the 'other income' with the superiors. The added advantage is 'other income' is undocumented and remains tax free. As against this income tax is deducted at source from the salary of private sector employees. A large number of people club all their income and declare it 'income from agriculture'. This creates a bias against those employed by the private sector. Since containing corruption, specifically at the higher levels may take some time the government should do two things at least: 1) try to contain prices of daily consumption items and 2) fix minimum wages to take care of those who are still trying not to dirty their hands in corruption. The employers may say that paying minimum stipulated wages will not be possible as this would further fuel inflation in the country. It must also be kept in mind that human resource cost is still a small component of the overall expenses for the entities like PSO, KESC, PIA and PSM but induction of party loyalist creates a group which gets all the benefits without moving a finger and those who fill themselves in their blanks remain empty-handed.
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.
CAA being a regulatory body for the airports and flight operations, Capt. Eijaz Haroon could still muddle in the affairs of PIA with a vengeance. Let's hope that the government acts wisely now and does not force the PIA workers to resort to strike again as they have threatened. This time, it appears, that Interior Minister Rehman Baba also failed to keep up to his reputation as a good government negotiator and could not pursue the agitating workers to call off their strike. It was only when a major demand of the striking workers about the removal of MD PIA was met and properly announced on TV that the workers turned jubilant and announced to resume flights from early Saturday. The sooner it was done, the better it would been for the PIA which been accumulating losses into billions. I feel the situation is still not fully satisfying because if the government goes ahead with its plan to post Capt. Eijaz as DG CAA, the situation would turn bad again.
QUTUBUDDIN Incidentally, the victory of the PIA staff came couple of hours after the victory of the Egyptian people who had besieged Tehrir Square in Cairo to force the ouster of President Hosni Mubarak, ending his 30 years of oneman rule. The PIA staff had also named a corner at Karachi airport as Tehrir Square following the lathi charge at them. One can only advise the government to tackle the issue sensibly and not to invite the employees wrath by taking
anti-workers decisions. I fail to understand one thing. The government had taken the plea that the PIA management's decision to sign an MoU with the Turkish Airlines for code sharing profitable European routes was in the national interest to save the airlines from the recurring losses. If it was so then why the Peoples Party government has reinstated thousands of sacked PPP supporters and workers in PIA, SSGC, Steel Mills and other organisation with back benefits. The jubilant PIA workers under the leadership of PALPA Chief Capt. Sohail Baloch have vowed to turn the PIA into a profit making organisation within six months. The nation expects them to work with more dedication to keep their pledge. After the resignation of MD, Capt. Eijaz Haroon said that the passengers were suffering immensely and that is why he decided to step down. "Someone had to back off and I decided to be that one". He further said that the PPP government was all
along supporting him but the protestors were being backed by opposition parties and turning violent day by day. Only time will tell whatever I did was wrong or whether the union leaders had led a baseless campaign. It was an obvious reference to the deal with Turkish Airlines for code sharing, a matter which has still not being clarified by the government. The former MD of PIA had taken stand that he had not signed an MoU with the Turkish Airlines and it was just a "record of meeting" that was inked. The Defence Ministry had taken another stand. It maintained that the signing of any such MoU was not within the ambit of PIA and it could not do so without the approval of Ministry of Defence and Government of Pakistan because agreements between sovereign states are signed by their governments and not by the organizations. Let's hope that the new cabinet which took oath last Friday handles this situation and other national matters with the seriousness they deserve.
Denying Peace a Chance Shumaila Raja
A
s Obama took over the reign of power from war-phobic George Bush more than two years ago, the South Asian experts pinned hope that his administration would pay an added attention towards resolving the Kashmir issue as they considered it one of the root causes of world terrorism, Afghanistan's troubles and growing menace of Talibanisation. American think-tank, South Asia expert and former policy adviser of US president Barrack Obama, Bruce Riedel, in his book "The Search for al-Qaeda" observes: "In a best-case scenario, the international community should seek to allay Pakistan's anxiety about India by resolving the underlying dispute between the two countries, which is centred in Kashmir. This would reduce the need for a nuclear arsenal or jihadist backup to compel India to withdraw from the valley. (p.141)" He further writes "(Since) India has no intention of withdrawing from Kashmir, the US quiet diplomacy initiative can bring both the countries to resolve the issue through dialogue process. Washington should be more prepared to press New Delhi to be more flexible on Kashmir. It is clearly in the US interest and also in India's interest. (142-143)" But unlike the expectations, this has not happened so far, instead Kashmir is not only left unattended, the Indian government and military have actively been executing a well thought out plan to cleanse the Muslim majority Kashmir freedom movement activists. Hundreds of teen-age youth have been killed and though recently there had been an announcement by New Delhi to cut 25% troops deployed in the Held Valley, which Pakistan considered as a mere announcement, because there has always remained a big difference between what New Delhi said and what demonstrated on ground, and the Indian army chief later clearly
refuted that there was no troops reduction taking place in Kashmir. Experts believed that such an announcement was linked to the recent visit of US president Obama, which has proved to be only a face saving exercise, nothing more. Obama was expected to come up with some clear agenda on Kashmir but the visit ended with no commitment at all. Experts believe that the US had the opportunity to resolve Kashmir soon after its arrival in Afghanistan, but instead it opted to start wasting its energies by putting pressure on Pakistan for doing more in the global war against terror. It kept its gaze fixed on Pakistan only and held it responsible for providing safe sanctuaries and allowing cross border terrorism. To divide the premier institutions, the US charged that some elements within the Army and ISI were linked with Taliban. Afghan regime under Karzai egged on by India was more specific in its allegations and said that the ISI was running training camps for the militants and launching them into Afghanistan. The US and Karzai regime paid no heed to other next door neighbors of Afghanistan like Iran, China, Turkmenistan, Uzbekistan and Tajikistan from where cross border movement was more easier than from Pakistan. They ignored the fact that almost equal number of runaway alQaeda and Taliban fighters had taken refuge in Iran and neighboring three ex Soviet Republics of Central Asia where pro-Taliban Islamic movements were raging. Russia which has still not forgotten the huge trauma it suffered in Afghanistan because of US role was also keen that Afghanistan becomes a graveyard for USA. China also must not have taken kindly to CIA's discreet involvement in its southern Xingjian Province and in Tibet. Unlike pro-America Pakistan which is also a coalition partner and frontline state to fight US dictated war on terror, Iran is antago-
nistic towards USA and desires its crushing defeat at the hands of Taliban. The main reason for overlooking all other players and singling out Pakistan is the secret plan made in collaboration with India, Israel and Britain. The US can ill-afford to ruffle the feathers of China and Iran because the two are following independent foreign policies and are not dependent upon US aid and above all are blessed with strong leadership. Pakistan on the other hand is ruled by handpicked corrupt rulers and is submerged in foreign debts. Its economy is in ruins and oxygen is being provided by US controlled IMF and World Bank to keep the country barely floating. Pakistan's economy has been deliberately enfeebled to compel its weak-willed and compliant leaders to hand over the keys of strategic assets of the country to Washington. Notwithstanding US and Israel's ardent wish to denuclearize Pakistan, the two doesn't want liquidation of Pakistan. At best the two want Pakistan to become a secular and a non-nuclear docile state ready to serve US interests in the region. India on the other hand wants decimation or as a minimum Balkanization of Pakistan since it is still not reconciled with its existence and considers it a thorn in its way to become a big power. India has been constantly poisoning the ears of US leaders and presenting Pakistan as the biggest threat to USA and the western world. Indian leaders have been convincing them that the roots of terrorism in Afghanistan lay in FATA. It has been inciting them to push forward its special forces into FATA to destroy the roots. Bright idea of safe havens in Waziristan has been transplanted into the minds of US officials so firmly that they have got transfixed with it and are convinced that until and unless the sanctuaries are destroyed either by Pakistan Army or NATO, no worthwhile results will ever be
achieved by them in Afghanistan and will suffer a defeat. Had Pakistan been peaceful as it was before 2002, and there had been fewer fatalities taking place as a result of terrorism, the accusers could have some grounds to get suspicious and hurl unsubstantiated accusations that there appeared to be some kind of linkage between Pakistan's security forces and militants? On ground, Pakistan Army, ISI and civilians have suffered heavy casualties at the hands of militants of different hues who have joined up against them. Series of terror attacks have taken place on ISI installations in Peshawar, Rawalpindi, Lahore and Multan. GHQ was also struck by the terrorists. Pakistan Army and ISI have suffered well over 3,200 casualties since the two joined the war in 2002. Injury list run into thousands with many crippled for life. List of widows and orphans is quite long. These figures are several times more than what the combined armies of 48 countries involved in counter terrorism have suffered in Afghanistan. In this backdrop nobody is trying to understand that Pakistan's main concern i.e. Kashmir solution, is addressed to settle down its dispute with India. The demand for an operation in North Waziristan cannot be met unless the situation or ground is evaluated through Pakistan's own perspective as well. Gen Kayani has time and again pointed out towards India's water offensive as well as its designs in the region. Water war has been unleashed which has a potential to make Pakistan's agriculture land as barren. All the water courses and rivers originate from Kashmir and the settlement of Kashmir is the basis of a lasting solution in Afghanistan as well. The Obama administration has to look to Bruce Riedel's conclusion that Washington will have to play its pivotal role in resolving the issue for peace in South Asia. The issue is a nuclear flashpoint which the region cannot afford.
Will Indo-Pak Talks Deliver? I
ndia and Pakistan have announced they will resume formal peace talks, which are expected to start by July. If the long-time rivals follow through, these will be the first talks since New Delhi broke off peace negotiations after militant attacks on Mumbai in 2008. IS THIS A MAJOR BREAKTHROUGH? Probably not. Even before the Mumbai carnage, a peace process launched in 2004 was foundering amid a minefield of political obstacles which still exist. Even with the best of intentions from both sides, and perhaps more prodding from the United States, issues such as militancy and the disputed Kashmir region are likely to slow any progress towards defusing tensions. If the talks resume, there is little chance of rapid progress between the two countries, which have fought each other three times since their independence more than
60 years ago. Aside from the core points of contention, there are complex, explosive issues that can easily put a quick end to dialogue -mainly their battle for influence in Afghanistan. "This is a dead cycle that we go through every few months," said Ajai Sahni, executive director for the Institute for Conflict Management, in New Delhi. "We talk, we don't talk, we talk, we don't talk." WHY HAVE THEY DECIDED TO REOPEN TALKS NOW? Analysts say the two sides may have finally put pragmatism above mutual suspicions when their top diplomats agreed to reopen talks after meeting on the sidelines of a regional conference in Bhutan's capital, Thimphu. Pakistan's government may have wanted to ease pressures from issues related to India because it is so overwhelmed by domestic challenges, including a Taliban insurgency preoccupying an army traditionally focused on possible
security threats from India. Indian analysts said real long-term trust can only be established if Pakistan gets more serious about eliminating anti-Indian militant groups. Pakistan, in turn, has long said the return to talks should not be linked to Indian demands that Pakistan crack down harder on militant groups blamed for the Mumbai attacks which killed 166 people. "I think the Indians have come around to an internal analysis -- the fact that linking these two is not really propitious for them and has not really produced the results they want," said Simbal Khan, Director of Eurasian Studies at Pakistan's Institute of Strategic Studies. India may be making strategic calculations that easing friction with Pakistan -- a regional power seen as key to any endgame in Afghanistan -may make its bid for influence there easier. The foes have engaged in a proxy battle for clout in
Afghanistan, complicating Western efforts to end the 10year war there. "Whenever the Indians raised their interest points in Afghanistan, Pakistan stonewalled India's inclusion into any kind of negotiations on Afghanistan or having input on how Afghanistan should work," said Khan. "The opposition (from Pakistan) has been that we will not discuss Afghanistan if you do not discuss the whole spectrum of issues between the two countries." Aside from all those considerations, India and Pakistan must have been under enormous pressure from Washington, which wants as much stability as possible in the region as it prepares for a gradual withdrawal of US troops from Afghanistan next summer. IS EITHER GOVERNMENT EQUIPPED TO SECURE A BREAKTHROUGH? The Pakistani and Indian governments may not have the
credibility to take decisive action on what promise to be highly sensitive talks that could ignite passions on either side of the border. They have other priorities at the moment. Pakistan's government is struggling to secure the sixth tranche of an International Monetary Fund emergency loan that provides a lifeline for the stagnant economy. To earn the funding, it must implement tough economic reforms fiercely resisted by opposition parties that recently brought the government to its knees in a political crisis. Indian leaders also have constraints. Faced with soaring food prices and the highest inflation of any major Asian economy, India's coalition government, which has also seen its second term tarnished by a string of corruption scams that have eroded public confidence, may have enough to deal with at home. There may be little motivation to make headway in any talks with its arch rival Pakistan.-Reuters
5
Tuesday, February 15, 2011
South East Asian stocks
Euro shares up as commodities jump on China imports KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,943.34 11,946.09 2.75 0.02 68.83
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,565.28 3,583.03 17.75 0.50 4.42
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,931.08 2,916.49 14.59 0.50 0.02
Major Gainers
Symbol
Close
Change
ULEVER 4,229.55 NESTLE 3,428.11 LAKST 246.68 NRL 273.61 ENGRO 214.64
84.05 77.01 6.67 6.42 4.57
Major Losers
Symbol SIEM RMPL IDYM SAPL PSEL
Close
Change
1,050.47 2,839.64 288.70 153.89 165.75
-45.43 -33.59 -11.3 -8.09 -4.24
Top 5 Volume Leaders
Symbol NCL LOTPTA NICL ENGRO ANL
Close Vol (mn) 26.72 15.93 2.65 214.64 10.57
7.52 6.05 4.96 2.87 2.73
Active Issues Plus Minus Unchanged
105 150 111
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)
33,929 32,092 7,087 6,813
INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753
HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075
DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%
OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)
PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)
932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1
Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046
Mostly rebound; Thai stocks lead regional gains
KSE in one of flattest finishes Nawaz Ali KARACHI: Karachi Stock Exchange started week in â&#x20AC;&#x2DC;rangeâ&#x20AC;&#x2122; with volumes reducing to a three month low as investors waited for the outcome of KSE directors meeting. The benchmark KSE-100 Index was up by 2 points to close at 11,946 points while KSE-30 Index increased by 11 points and KSE All Share Index was down by 1 point to close at 11,546 and 8,294 points respectively.
"Another lackluster day was observed as investors stayed sidelined ahead of KSE board meeting", Samar Iqbal, equity dealer at Topline Securities. Nishat Chunian Limited stood as the volume leader due to expectations of handsome earnings. It was followed by LOTPTA which also remained in the focus on the back of Improved PTA margins, he added. The day began with a minor loss of 6 points. Going forward market wit-
Nikkei hits new 9-mth top TOKYO: Japan's Nikkei average rose to a nine-month high on Monday as upbeat Chinese economic data boosted investor confidence, while maritime transport and construction equipment stocks attracted buying. Traders said a shift to developed markets from emerging markets was continuing, but due to China's strong trade data, there was buying in overall Asian markets including Shanghai and Hong Kong on Monday. "I don't necessarily see an allocation shift (today). It's easing concerns of tightening in emerging markets," said Mattia Ciancaleoni, director of equity sales at Citigroup. China's exports grew 37.7 per cent in January from a year earlier and imports rose 51 per cent, state television said on Monday, resulting in a trade surplus of $6.5 billion compared with $13.1 billion in December. The median forecast of economists polled by Reuters last week was for exports to rise 22.4 per cent in January and imports to grow 28 per cent, for a trade surplus of $10.7 billion. "People are relieved that demand is still strong despite China's recent rate hike," said Ciancaleoni.
China last week announced its third rate hike since October and investors predict the central bank will move again over the medium term as consumer inflation is expected to remain at high levels. The benchmark Nikkei ended up 1.1 per cent or 119.89 points at its intraday peak of 10,725.54, its highest since May 6 last year. The broader Topix rose 1.3 per cent to 959.19. "Japanese stocks have been lagging behind overseas markets so far, but now investors are assuming that they may even outperform other markets," said Kenichi Hirano, operating officer at Tachibana Securities. He said the Nikkei may test the psychologically important 11,000 level this week. "Foreign investors have been net buyers of Japanese stocks for 14 straight weeks. At the beginning they were mostly hedge funds covering short positions. But recently overseas pension funds have been buying Japanese stocks as they are moving to correct low allocations to Japanese equities," he said. Shippers outperformed, with Mitsui OSK Lines gaining 3.8 per cent to 579 yen and Kawasaki Kisen adding 2.8 per cent to 370 yen.-Reuters
ANNOUNCEMENTS Company Period Engro Corporation(Consolidated) Yearly Engro Corporation Yearly Meezan Bank Ltd. Yearly Nestle Pakistan Yearly Rafhan Maize Product Yearly Sanofi-Aventis Yearly Tri-Pack Films Yearly Shabbir Tiles Central Forest Half Yearly Pak Paper Prod. Half Yearly Pak Refinery Half Yearly Pak.P.V.C. Half Yearly Sitara Chemical Ind. Half Yearly
Div/Bon/Right 20%(F)(D)20%(B) 15%(B) 300%(F)(D) 550%(F)(D) 100%(F)(D) 100%(F)(D) 100%(R) -
PAT (Rs in mn) 6441.00 1675.96 1649.59 4112.85 1837.94 224.02 494.85 -1.46 10.87 881.12 -11.11 126.98
EPS(Rs) 20.72 5.11 2.36 90.69 198.99 23.23 16.49 -0.49 2.17 25.17 -0.74 5.93
nessed some rangebound activities throughout the day moving on both sides of the index between 12,041 points (+ve 98) and 11,876 points (-ve 67) with low volumes. It was due to investors remained on the sidelines in the absence of any major trigger ahead waiting for the outcome of the meeting of KSE board of directors. However, some positive activities did come to pass in the early moments on hopes that positive news may arrive regarding the
Frail financials prevail over miners as FTSE slips LONDON: Britain's leading share index closed marginally lower on Monday, as weaker financials prevailed over a mining rally inspired by upbeat economic data from China. Chip designer ARM Holdings was the top riser, up 6.6 per cent, with traders citing favourable broker comment as the mobile world met in Barcelona. Goldman Sachs said ARM's management underscored its bullish view of the company's long-term opportunities, adding "there's clearly room for ARM's royalty rate (from licence agreements) to increase over the next five years". Morgan Stanley, meanwhile, said "tablet demand is still underappreciated" by the market. Nearly all the world's mobile phones and tablets use ARM's low-power technology. The FTSE 100 closed down 2.81 points, or 0.1 per cent, at 6,060.09, having hit a 2-1/2 year-high earlier. Banks and insurers were weaker as concerns over Europe's debt situation and the precariousness of global recovery remained in focus. Lloyds Banking Group fell 1.6 per cent, while Barclays, which kicks off the reporting season with full-year results on Tuesday, shed 0.1 per cent. Data suggested Portugal headed back into recession in the last quarter of 2010. "The yield on Portugal's 10year government bond reached a new high above 7 per cent, and Spain's yield ticked higher, reminding the market the European debt crisis is by no means over," Angus Campbell, See # 14 Page 11
China shares rally on data; HK follows HONG KONG: Hong Kong shares closed higher on Monday, lifted by the Shanghai Composite's biggest advance in two months on signs of robust Chinese growth and talk that January inflation was milder than expected. The benchmark Hang Seng finished up 1.3 per cent at 23,121.1, recovering slightly from its biggest weekly decline since May 2010. The index fell 4.5 per cent last week. Daily turnover on the Hong Kong stock exchange dropped though, falling just short of the HK$80 billion mark that had been easily breached in each of the last three trading sessions. The decline in trading activity came even as short-selling as a percentage of total turnover was consistent with levels seen last week, suggesting that some
investors were still looking to sell into strength. Strong economic data from across the world, including US consumer sentiment at an eightmonth high, optimism about Japanese exports and forecastbeating trade data from China helped bolster investor confidence on the day. "The Hang Seng Index rebounded on better-thanexpected macro data from the United States and Japan, and was further underpinned by rumours of a 4.9 per cent January CPI reading (from China)", said a Hong Kongbased trader at a Japanese bank. Market players said China consumer prices may have risen slower than forecast in January and well below the consensus forecast of 5.3 per cent, but added that the low
reading could be the result of changes to the weighting of the consumer price index (CPI). The official inflation data will be announced on Tuesday. Mainland Chinese banking shares outperformed as a cash crunch that had impacted the financial system through January showed signs of easing. Bank of China rose 2.3 per cent. ICBC was up 1.9 per cent. Agricultural Bank of China Ltd , which has lagged other financials in Hong Kong this year, rose 3.1 per cent. Agbank is down 4.6 per cent so far this year compared with a 1.1 per cent gain for the financial subindex . Financials were also the top performing sector in Shanghai, helping to lift the benchmark stock index into positive territory for the year.-Reuters
launch of Margin Trading System (MTS) in the said meeting. Moreover, a small rally also built up in the fertiliser stocks on better than expected Engro results. Engro Corporation announced FY10 profit after tax of Rs6.44 billion translating into an EPS of Rs20.72. The company also announced a final cash dividend of Rs2 per share and 20 per cent bonus shares. Investor participation remained depressed throughout the day as 68.8
million shares traded in the overall market which was its lowest in three months and was 42.9 million shares less than a turnover of 111.7 million on Friday. Nishat Chunian stood as the top traded stock with 7.52 million shares followed by Lotte Pakistan with 6.05 million shares and Nimir Ind Chemical with 4.96 million shares. Out of total 366 active issues 150 dropped, 105 hopped while 111 did none of the said two.
Engro profit grows by 78pc Surprises by bonus payout Ghulam Raja Rajani KARACHI: Engro Corporation (Engro) Monday announced its financial results for CY10. According to a notice issued to Karachi Stock Exchange (KSE) the profit (to equity holder of the holding company) surged significantly by 78.36 per cent to Rs6.79 billion against Rs3.81 billion in the corresponding period last year. This translates into an earning per share of Rs20.72 against Rs12.24 during the same period
last year. Furthermore, company announced a final dividend of Rs2 per share which is in addition to two interim dividends of Rs4/share (each) totaling Rs6/share for CY10. Surprisingly, company announced 20 per cent bonus shares as well -- investors welcomed it warmly as the scrip rose from an intraday low of Rs206.22 to Rs217 and closed at Rs214.64 per share on Monday. See # 11 Page 11
Sensex rises most in 9mths; outlook cloudy MUMBAI: Firm world equities drove the BSE Sensex 2.7 per cent higher on Monday, its highest single-day gain in nine months, but market participants were unsure whether the rally has legs as high inflation and graft probes weighed. Tata Motors accelerated 5.6 per cent, a session after the vehicles maker said surging sales at its luxury Jaguar and Land Rover (JLR) unit helped quadruple third-quarter profit and pledged to lift prices aggressively to offset rising raw material costs. " Tata Motors is attractive for multiple reasons -- consis-
tent improvement in JLR performance, uptrend in domestic CV (commercial vehicle) cycle, Nano production ramp up," Standard Chartered said in a note, while maintaining "outperform" rating. The 30-share BSE index gained 2.67 per cent or 473.59 points to 18,202.20, with 29 of its components advancing. Anish Marfatia, head of sales trading at Avendus Securities said a rise in Asian markets helped Indian shares perform, but it was difficult to predict whether the market would see more gains. See # 12 Page 11
US stocks mid-day
Market flat, low volume foreseen as retreat sign NEW YORK: US stocks were little changed on Monday as another day of persistently below-average volume suggested investors weren't willing to chase gains that carried stocks to 2 1/2-year highs last week. Equities were coming off two straight weeks of gains, although light trading volume undercut the bullish sentiment. "We've been setting new highs on low volume, which suggests the rally is on thin ice," said Tom Mangan, a portfolio manager who helps oversee $2.4 billion at James Investment Research Inc in Xenia, Ohio. He said a correction was likely. President Barack Obama proposed a federal budget that would cut the US deficit by $1.1 trillion over the next 10 years. Congress must approve the plan, and Republicans, who are in the majority in the House, said it did not curb spending enough. "A (market) correction could come on negotiations over the budget if there's a fear of a government shutdown," Mangan said. The S&P 500 has gained nearly 13 per cent since the start of December, helped by strong corporate results and the recent resignation of Egyptian President Hosni Mubarak, which eased some of the tensions around the region for now. Some traders said they still see residual strength in the market, with investors willing to buy on any decrease in prices. "The 'buy the dip' mentality is certainly the trend that we've seen over the last couple of weeks," said Ryan Larson, head of equity trading at RBC Global Asset Management in Chicago. "We will probably look for that to carry through." The Dow Jones industrial average was down 33.45 points, or 0.27 per cent, at 12,239.81. The Standard & Poor's 500 Index was down 1.67 points, or 0.13 per cent, at 1,327.48. The Nasdaq Composite Index was up 2.90 points, or 0.10 per cent, at 2,812.34. See # 13 Page 11
Dhiyan
TRADE LOOKS GREENER Tariq Hussain Khan, COO United Capital Securities Moving forward, a sharp rally would continue in the market and index could come up to 12,500 points. Investors are advised to start accumulating E&P, fertiliser, banks, and cement stocks. Furthermore, positive developments on Margin Trading System (MTS) and upcoming meeting with the International Monetary Fund (IMF) would support the market while delay in MTS would hurt the momentum. Trade could be green today.
Ahsan Rasheed, Director Research AMJ Growth Rangebound activities are likely to continue in the days to come with index moving between 12,125 and 11,850 points. Investors are advised not to hold positions for long and buy with stop loss as we might see some more bearish activities also. Our top scrips for buying are LUCK and ENGRO. Along with the launch of much awaited leverage product, renewed foreign buying would also be a major trigger for market/volumes. Business maybe positive today.
6
Tuesday, February 15, 2011
Market Volume
68,831,399
Value
2,798,858,729
Trades
49,708
Paid up Cap(mn)
Advanced Decline Unchanged Total
Current High Low Change
105 150 111 366
All Share Index
11,946.09 12,041.51 11,875.45 h2.75
Current High Low Change
KSE 30 Index
8,294.51 8,360.45 8,248.81 i1.62
Current High Low Change
KMI 30 Index Current High Low Change
11,546.54 11,615.27 11,458.46 h11.21
19,305.71 19,436.75 19,189.51 h29.83
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,513.52 Turnover 3,210,197 P/E (x) 10.96 Company
KSE 100 Index
Symbols
High Low 1,534.95 1,493.38 Total cos Defaulter cos P/BV (x) ROE (%) 3.57 32.54
PE
Open
High
Low
Attock Petroleum 691 6.63 Attock Refinery 853 4.69 BYCO Petroleum 3921 Mari Gas Company 735 16.33 National Refinery 800 5.67 Oil & Gas Development 43009 11.16 Pak Petroleum 11950 7.47 Pak OilfieldsSPOT 2365 7.17 Pak Refinery Limited 350 P.S.O 1715 4.65 Shell Gas LPG 226 Shell Pakistan 685 10.63
368.79 114.06 9.42 121.25 267.19 166.83 204.98 312.30 100.37 273.47 30.50 207.27
371.98 115.99 9.59 124.00 275.00 169.90 206.25 314.75 105.00 277.50 31.99 211.50
362.50 112.02 9.25 120.10 262.20 164.00 203.25 308.60 97.05 272.00 29.41 206.00
Close Chg 366.77 115.15 9.39 120.54 273.61 164.96 204.44 311.16 103.06 274.89 30.07 207.26
-2.02 1.09 -0.03 -0.71 6.42 -1.87 -0.54 -1.14 2.69 1.42 -0.43 -0.01
Close Change 1,506.01 -7.51 Listed cap Market cap 65,194.15 mn 1,162,611.66 mn Payout (%) Div Yield (%) 55.94 5.10 Last 60 days High Low
Volume 69300 784866 337252 60325 121408 257811 535142 810901 221182 331000 847 17415
401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00
304.26 112.02 9.25 117.00 251.99 158.65 193.00 254.60 81.13 268.00 29.41 194.00
% Change -0.50 5-Day High 1,573.11 5-Day Low 1,506.01
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 - 50.00 -
-
CHEMICALS
Open 719.80 Turnover 11,582 P/E (x) 5.46 Company
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
1092 1321
High Low 729.85 715.60 Total cos Defaulter cos P/BV (x) ROE (%) 1.39 25.53
Close 728.01 Listed cap 3,242.17 mn Payout (%) 11.08
Change 8.21 Market cap 12,524.91 mn Div Yield (%) 2.03
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
6.90 36.96
71.24 33.05
72.00 34.00
70.50 33.46
71.77 34.00
10580 1002
76.65 39.45
0.53 0.95
68.00 32.36
Company
Company
Paid up Cap(mn)
High Low 1,594.68 1,549.60 Total cos Defaulter cos P/BV (x) ROE (%) 3.33 35.00
PE
Open
High
Low
Agritech Limited 3924 8.04 Bawany Air 75 62.00 BOC (Pak) 250 12.23 Clariant Pak 273 7.01 Dawood Hercules 1203 8.08 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 11.79 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 6785 9.20 Fauji Fert.Bin Qasim 9341 7.77 Gatron Ind 384 2.50 Ghani Gases Ltd 725 8.53 ICI Pakistan 1388 8.12 Lotte Pakistan 15142 5.86 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 8.92 Sitara Peroxide 551 14.71 Wah-Noble 90 7.10
22.34 8.40 91.27 197.25 192.53 3.12 7.68 2.98 11.22 210.07 13.22 11.75 149.24 40.85 49.00 11.26 145.78 15.93 2.53 2.20 106.33 13.58 36.10
23.45 8.00 94.99 200.50 199.00 3.20 7.80 3.08 11.45 217.00 13.56 11.90 150.24 41.34 48.00 11.49 146.00 16.24 2.79 2.35 109.00 13.65 37.29
22.00 7.41 88.05 195.00 190.00 3.07 7.30 2.93 10.26 206.22 13.11 11.40 148.03 40.60 46.55 11.16 142.60 15.80 2.51 2.20 101.02 13.25 35.25
Close Chg 22.20 7.44 89.01 195.99 194.92 3.10 7.42 2.95 11.28 214.64 13.22 11.85 149.44 41.19 46.55 11.26 144.09 15.93 2.65 2.20 105.84 13.53 36.90
-0.14 -0.96 -2.26 -1.26 2.39 -0.02 -0.26 -0.03 0.06 4.57 0.00 0.10 0.20 0.34 -2.45 0.00 -1.69 0.00 0.12 0.00 -0.49 -0.05 0.80
Close 1,578.98 Listed cap 52,251.88 mn Payout (%) 48.81
Change 10.56 Market cap 347,081.13 mn Div Yield (%) 5.13
Last 60 days High Low
Volume 84100 1564 1129 7192 34849 151133 641579 708154 2050 2871229 746096 1638439 1082518 2050114 1028 19850 201619 6045337 4959047 1021 6551 74303 1602
26.73 10.50 103.94 213.30 215.00 3.74 9.25 4.24 11.98 222.80 15.87 12.64 157.90 43.99 52.00 13.07 158.49 16.80 3.17 3.10 139.40 14.69 41.99
20.91 7.16 77.05 152.00 165.73 2.37 6.90 1.52 9.15 179.40 12.51 9.16 108.80 33.25 39.00 11.00 133.50 11.70 1.40 2.02 101.02 12.70 32.22
% Change 0.67 5-Day High 1,605.40 5-Day Low 1,568.42
2010 Div BR (%) (%) 5 15 135 40 15 60 130 52.5 20 55 5 25 50
10R 25B 20B 25B 5B -
2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,051.92 Turnover 54,077 P/E (x) 5.24 Company
High Low 1,067.72 1,017.56 Total cos Defaulter cos P/BV (x) ROE (%) 0.39 7.47
Close 1,041.85 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
9.53 6.79
15.95 43.50 38.00
16.40 45.58 38.05
14.95 41.33 37.66
15.70 -0.25 41.34 -2.16 38.00 0.00
16754 1603 35720
Century Paper Pak Paper Product Security Paper
Change -10.07 Market cap 2,887.88 mn Div Yield (%) 4.82
Last 60 days High Low 19.69 48.90 47.70
14.95 39.00 37.25
% Change -0.96 5-Day High 1,053.65 5-Day Low 1,041.85
2010 Div BR (%) (%) 2533.33B 50 -
2011 Div BR (%) (%) -
-
Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Honda Dewan Motors General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Pak Suzuki Sazgar Engineering
PE
Open
144 5.09 70.15 101 5.79 193.32 626 9.50 136.55 890 1.96 598 19.83 23.13 450 3.09 4.50 200 6.56 4.50 1428 - 10.90 823 10.03 62.79 150 4.26 23.25
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International IndSPOT Siddiqsons Tin
PE
Open
High
Low
565 2.96 675 555 8.75 1199 18.20
28.90 2.35 14.38 50.10
28.99 2.55 14.35 50.90
28.12 2.30 14.00 49.10
785 10.23
9.00
9.42
8.80
Close Chg 28.26 2.30 14.00 50.04
Close 1,002.21 Listed cap 3,596.11 mn Payout (%) 30.91
High
High Low 1,263.83 1,217.98 Total cos Defaulter cos P/BV (x) ROE (%) 1.12 25.35 Low
Close Chg
Close 1,254.24 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -6.07 Market cap 46,642.52 mn Div Yield (%) 4.64
Last 60 days High Low
Open 1,783.06 Turnover 145,030 P/E (x) 46.24 Company
Paid up Cap(mn)
Abdullah Shah Ghazi Sugar 793 Chashma Sugar XD 287 Clover Pakistan 94 Dewan Sugar 365 Faran Sugar XD 217 Habib Sugar 750 Habib-ADM Ltd 200 Haseeb Waqas XD 324 Hussein Sugar 121 Ismail Ind 505 J D W Sugar 539 Mirza Sugar XD 141 Mitchell's Fruit XD 50 National Foods 414 Noon Pakistan 48 Noon Sugar 165 Quice Food 107 Rafhan Maize 92 S S Oil 57 Shahmurad Sugar XD 211 Shahtaj Sugar 120 Shakarganj Mills 695 Tandlianwala 1177 UniLever Pakistan 665
PE
Change -8.88 Market cap 9,651.17 mn Div Yield (%) 9.87
% Change -0.88 5-Day High 1,030.08 5-Day Low 1,002.21
2010 Div BR (%) (%)
-0.64 -0.05 -0.38 -0.06
4352 24501 1721 2707
31.00 3.29 16.51 62.20
24.01 2.30 13.81 45.50
30 55
9.00 0.00
15701
10.70
8.51
7.5
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dadex Eternit Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Flying Cement Ltd Frontier Ceramics Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Thatta Cement
PE
Open
High
Low
1828 866 6.44 182 14 956 40.83 982 13.85 108 948 3891 3651 112.00 6933 6.25 1760 77 32 1288 13126 3234 6.18 5261 1.20 2228 200 798 458.50
2.82 50.43 18.60 10.10 9.90 1.84 19.96 2.00 1.90 27.00 4.49 1.65 2.93 0.61 6.00 3.06 67.67 2.57 6.26 6.50 18.34
3.24 50.99 18.80 10.00 10.50 1.85 19.11 2.00 2.04 27.18 4.62 1.95 3.40 0.63 6.10 3.16 69.88 2.67 6.48 6.90 17.35
2.75 48.60 18.00 9.12 9.55 1.60 19.11 1.25 1.85 26.45 4.40 1.62 2.00 0.51 6.00 3.04 67.00 2.50 6.05 6.21 17.35
Close 901.63 Listed cap 54,792.74 mn Payout (%) 19.04
2011 Div BR (%) (%)
- 10.00 20B -
Change 4.39 Market cap 64,867.18 mn Div Yield (%) 3.01
Close Chg
Volume
Last 60 days High Low
2.87 50.86 18.20 10.10 9.80 1.80 19.96 2.00 1.90 26.88 4.50 1.66 2.00 0.52 6.01 3.07 68.76 2.58 6.10 6.24 18.34
24445 3831 25220 305 4401 5501 150 8981 154140 1621277 281538 36978 11602 13013 501 695632 333072 193911 11005 2008 200
3.98 65.99 24.16 15.50 12.59 2.49 25.75 3.49 3.10 32.30 5.55 2.25 3.40 0.99 8.70 3.88 78.44 3.30 8.15 7.95 20.44
0.05 0.43 -0.40 0.00 -0.10 -0.04 0.00 0.00 0.00 -0.12 0.01 0.01 -0.93 -0.09 0.01 0.01 1.09 0.01 -0.16 -0.26 0.00
-
-
2.75 48.60 17.60 7.91 9.55 1.50 18.06 1.25 1.62 26.45 4.40 1.60 1.29 0.25 5.99 2.95 66.00 2.50 6.05 5.30 16.75
% Change 0.49 5-Day High 939.48 5-Day Low 897.24
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
2011 Div BR (%) (%) -
92R -
Performance of SR General Industrials Index
Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Siemens Engineering Tri-Pack Films
Paid up Cap(mn)
PE
Open
High
High Low 1,004.31 948.86 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 43.91 Low
Close Chg
115 2.67 60.41 59.25 57.39 58.25 -2.16 230 2.60 2.61 2.41 2.58 -0.02 1067 4.93 52.32 53.89 51.12 53.67 1.35 389 3.75 3.75 3.25 3.60 -0.15 47 17.56 32.06 32.60 31.00 31.61 -0.45 844 60.92 120.54 124.00 118.00 118.80 -1.74 82 10.65 1095.90 1129.50 1045.00 1050.47-45.43 300 7.53 126.81 125.20 120.70 124.23 -2.58
Close 965.60 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 61220 5103 6536 1500 5523 10415 242 83387
Company
Company
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Change -16.43 Market cap 36,527.51 mn Div Yield (%) 5.84
Last 60 days High Low 83.23 53.51 3.30 1.82 56.45 45.30 4.14 2.43 33.80 17.10 143.00 103.52 1381.00 1035.99 144.50 105.00
90 100 20 10
20B 20B
-
-
Close Chg
Volume
Change 26.50 Market cap 277,240.44 mn Div Yield (%) 0.66
Last 60 days High Low
112 7.20 4.06 1401 15.47 8.70 120 78.40 46.15 40865 5.59 1.60 608 21.73 17.25 57698 36.50 21.35 2502 12.95 11.50 660 23.62 14.71 323 12.66 9.00 645 81.12 68.60 1057 92.50 68.00 5300 7.18 4.01 420 89.90 66.13 200 75.50 41.52 133 27.30 21.88 438 14.84 9.00 11500 4.00 2.05 189 3016.00 1800.00 7000 3.85 2.50 3000 13.50 8.30 8305 100.26 50.93 1501 7.88 4.15 7705 44.06 31.50 153 4818.00 3916.04
2010 Div BR (%) (%)
% Change 1.49 5-Day High 1,837.00 5-Day Low 1,783.06 2011 Div BR (%) (%)
10 15 25 25 25B 40 10 17.5 110R 7010B 12.5R 10 40 12 12 1150 10 178 -
-
-
% Change -1.67 5-Day High 1,011.19 5-Day Low 965.60
2010 Div BR (%) (%) 20 25 900 100
25B 10B -
2011 Div BR (%) (%) -
50R -
High Low 1,081.45 1,035.18 Total cos Defaulter cos P/BV (x) ROE (%) 0.31 10.64
Close 1,051.72 Listed cap 3,763.71 mn Payout (%) 6.27
Open
High
Low
Close Chg
Volume
106 1219 231
3.34 2.31
6.39 13.36 19.20
7.00 13.73 19.64
5.61 13.23 18.20
5.62 -0.77 13.26 -0.10 19.35 0.15
514 43747 97896
Hussain Industries Pak Elektron Tariq Glass Ind
Change -11.05 Market cap 5,075.37 mn Div Yield (%) 2.13
Last 60 days High Low
2010 Div BR (%) (%)
11.49 15.88 24.00
17.5
4.60 13.00 15.90
10B -
% Change -1.04 5-Day High 1,106.84 5-Day Low 1,051.72 2011 Div BR (%) (%) - 200R
PERSONAL GOODS Performance of SR Personal Goods Index Open 985.16 Turnover 11,843,217 P/E (x) 7.31 Company
Paid up Cap(mn)
(Colony) Thal AL-Qadir Textile Amtex Limited Artistic Denim Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Blessed Tex Mills Chenab Limited Colony Mills Ltd Crescent Jute Crescent Textile D S Ind Ltd Dar-es-Salaam Data Textile Dawood Lawrencepur Fazal Cloth Gadoon Textile XD Globe (O.E) Gul Ahmed Textile Gulistan Spinning Hira Textile Mills Ltd Ibrahim Fibres Ideal Spinning Idrees Textile Indus Dyeing Jubilee Spinning Kohinoor Mills Kohinoor Textile Masood Textile Mian Textile Mukhtar Textile Nagina Cotton Nishat (Chunian) Nishat Mills Olympia Spinning Pak Synthetic Ravi Textile Reliance Weaving Rupali Poly Saif Textile Sally Textile Salman Noman Sargodha Spinning Service Ind Shahpur Textile Shahtaj Textile Suraj Cotton Taj Textile Tata Textile Thal Limited Treet Corp Zil Limited
56 76 2594 840 133 4493 33 76 64 1150 2442 238 492 600 80 99 514 188 234 47 635 146 716 3105 99 180 181 325 509 1455 600 221 145 187 1614 3516 120 560 250 308 341 264 88 42 312 120 140 97 180 334 173 307 418 53
PE
Open
1.25 7.80 8.45 3.73 5.81 22.00 0.33 2.00 - 10.32 0.45 11.47 0.49 13.99 0.92 58.01 2.70 3.55 2.46 0.99 3.45 17.72 1.60 2.50 0.84 44.71 36.51 1.03 52.49 0.80 75.50 5.25 12.00 4.17 29.05 1.08 5.66 0.70 3.71 3.96 50.20 0.67 8.10 3.33 3.15 2.81 300.00 2.45 2.89 3.57 5.00 1.88 18.82 0.43 0.44 0.78 16.24 2.22 25.45 5.48 63.91 1.70 4.46 12.55 1.27 0.70 9.58 5.09 40.01 0.48 6.04 0.23 4.25 1.70 4.88 0.60 4.04 7.31 212.00 0.51 0.37 - 19.05 0.84 37.01 0.21 0.38 41.00 5.10 118.10 8.49 53.89 4.90 69.78
High
High Low 998.57 982.57 Total cos Defaulter cos P/BV (x) ROE (%) 0.63 8.64 Low
Close Chg
1.20 1.20 1.20 -0.05 7.00 7.00 7.00 -0.80 3.99 3.70 3.72 -0.01 21.89 20.90 20.91 -1.09 2.55 2.40 2.40 0.40 10.69 10.30 10.57 0.25 11.50 11.15 11.15 -0.32 14.40 13.71 14.00 0.01 60.91 60.90 60.90 2.89 2.90 2.70 2.82 0.12 2.70 2.26 2.27 -0.19 1.00 0.62 0.90 -0.09 17.94 16.72 17.93 0.21 1.70 1.60 1.65 0.05 2.40 2.40 2.40 -0.10 0.55 0.13 0.21 -0.63 38.33 37.00 38.00 1.49 55.10 54.00 55.10 2.61 75.50 73.00 73.00 -2.50 11.50 11.50 11.50 -0.50 30.00 29.00 29.01 -0.04 6.48 5.02 5.66 0.00 3.85 3.70 3.74 0.03 51.00 47.70 50.43 0.23 8.00 7.10 7.90 -0.20 3.60 3.05 3.06 -0.09 292.30 285.00 288.70-11.30 2.65 2.65 2.65 0.20 3.00 2.01 2.01 -0.88 5.00 4.50 5.00 0.00 17.82 17.82 17.82 -1.00 0.45 0.45 0.45 0.02 0.81 0.40 0.40 -0.04 15.25 15.25 15.25 -0.99 26.72 25.15 26.72 1.27 64.40 63.20 63.83 -0.08 2.00 2.00 1.70 0.00 13.22 12.51 13.20 0.65 1.38 1.24 1.24 -0.03 10.25 9.62 9.96 0.38 41.50 39.00 40.55 0.54 6.14 5.50 6.00 -0.04 4.68 3.63 4.67 0.42 4.01 4.00 4.01 -0.87 3.95 3.11 3.11 -0.93 218.50 213.00 213.53 1.53 0.37 0.37 0.37 0.00 20.00 19.90 19.99 0.94 37.95 37.50 37.65 0.64 0.25 0.25 0.25 0.04 42.50 38.95 38.95 -2.05 120.00 115.10 119.26 1.16 54.30 52.35 53.32 -0.57 73.26 68.11 73.23 3.45
Close 990.45 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 5.29 Market cap 136,290.14 mn Div Yield (%) 2.28
Last 60 days High Low
500 1.50 1001 9.00 157962 5.28 1011 24.59 746 3.00 2727122 12.84 2001 15.25 7001 15.10 1250 63.20 37665 3.76 6009 2.97 3562 1.38 4008 23.99 16163 2.10 1589 4.38 5271 0.90 10003 47.00 909 76.24 2103 77.40 500 13.75 125141 33.19 163 8.86 6302 4.47 55003 55.00 1019 9.99 15850 3.90 2035 350.15 2000 5.50 1716 3.80 7404 5.95 1984 20.74 2000 0.75 1500 0.90 1500 17.10 7516042 26.72 848221 71.89 150 2.24 36313 14.45 1098 1.98 70297 10.34 28272 42.70 3613 6.85 5509 4.68 507 6.35 10002 4.45 804 276.50 500 0.70 5700 20.29 1500 41.95 8500 0.56 2001 42.50 733 132.00 21630 63.30 71143 73.26
2010 Div BR (%) (%)
0.61 4.05 10 3.65 30 19.79 20 1.32 7.5 9.20 8.10 - 15B 12.60 20 46.00 50 2.60 2.06 0.32 16.45 15 1.55 1.20 0.11 35.00 5 42.40 100SD 47.00 70 11.50 10 24.00 12.5 5.02 10 3.31 10 36.26 20 3.00 2.70 10 188.01 50 2.25 1.51 4.50 17.10 15 100R 0.25 0.14 14.75 20SD 21.15 15 53.61 25 45R 1.51 6.21 0.65 8.50 25SD 34.70 40 3.90 3.61 10 2.01 5B 1.51 5 206.10 0.20 16.35 45 33.00 50 0.08 30.00 25 96.55 80 20B 51.50 44.50 35 -
% Change 0.54 5-Day High 994.19 5-Day Low 985.16 2011 Div BR (%) (%) -
-
PHARMA AND BIO TECH
Close 1,551.60 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
Low
PE
INDUSTRIAL ENGINEERING High Low 1,576.58 1,544.79 Total cos Defaulter cos P/BV (x) ROE (%) 3.16 38.02
High
Close 1,809.56 Listed cap 11,335.33 mn Payout (%) 30.57
Paid up Cap(mn)
Performance of SR Industrial Engineering Index Open 1,559.03 Turnover 33,277 P/E (x) 8.32
Open
Open 1,062.77 Turnover 142,166 P/E (x) 2.94
-
GENERAL INDUSTRIALS Open 982.03 Turnover 173,926 P/E (x) 2.66
67.00 155.26 96.90 1.40 21.00 4.33 4.01 10.60 61.60 18.80
2011 Div BR (%) (%)
29.01
Total Assets (Rs in mn)
MA (10-day)
29.01
Total Equity (Rs in mn)
MA (100-day)
25.87
Revenue (Rs in mn)
14,599.69
MA (200-day)
23.75
Interest Expense
944.60
1st Support
28.70
Profit after Taxation
477.53
2nd Support
28.35
EPS 10 (Rs)
7.523
1st Resistance
29.70
Book value / share (Rs)
56.65
2nd Resistance
30.35
PE 11 E (x)
4.17
Pivot
29.35
PBV (x)
0.51
3,595.77 19,688.79
GATM closed down -0.04 at 29.01. Volume was 3,163 per cent above average (trending) and Bollinger Bands were 33 per cent narrower than normal. The company's profit after taxation stood at Rs110.349 million which translates into an Earning Per Share of Rs1.74 for the 1st quarter of current fiscal year (1QFY11). GATM is currently 20.4 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into GATM (bullish). Trend forecasting oscillators are currently bearish on GATM.
Pakistan Int Airline Corp Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
62.80
Total Assets (Rs in mn)
160,013.18
MA (10-day)
2.59
Total Equity (Rs in mn)
(20,772.84)
MA (100-day)
2.32
Revenue (Rs in mn)
MA (200-day)
2.45
Interest Expense
1st Support
2.69
Loss after Taxation
2nd Support
2.49
1st Resistance
3.00
Book value / share (Rs)
2nd Resistance
3.11
PE 10 E (x)
Pivot
2.80
PBV (x)
94,563.77 9,243.77 (5,822.43)
EPS 09 (Rs)
(2.720) (8.92) (0.32)
PIAA closed up 0.37 at 2.87. Volume was 583 per cent above average (trending) and Bollinger Bands were 130 per cent wider than normal. The company's loss after taxation stood at Rs11.693 billion which translates into a Loss Per Share of Rs4.79 for the nine months of current calendar year (9MCY10). PIAA is currently 17.3 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into PIAA (mildly bullish). Trend forecasting oscillators are currently bullish on PIAA.
Maple Leaf Cement Factory Ltd
HOUSEHOLD GOODS
CONSTRUCTION AND MATERIALS High Low 919.82 883.94 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 7.10
2630 82.63 2155 205.00 4534 143.80 65488 2.89 750 26.74 2013 5.36 104246 5.75 2741 13.00 11709 77.90 10844 24.00
High Low 1,843.33 1,741.15 Total cos Defaulter cos P/BV (x) ROE (%) 14.01 30.30
0.91 5.51 6.25 5.60 5.51 0.00 3.52 9.65 9.70 9.00 9.00 -0.65 - 56.41 53.59 53.59 56.41 0.00 3.00 3.45 3.00 3.00 0.00 1.42 17.96 18.00 17.40 17.49 -0.47 8.73 21.99 22.55 21.65 21.99 0.00 7.68 12.20 12.60 12.20 12.60 0.40 - 16.71 17.70 15.75 16.24 -0.47 3.16 10.99 10.05 9.99 10.99 0.00 35.31 79.42 79.80 75.45 79.09 -0.33 1.27 72.84 74.65 71.30 72.00 -0.84 4.20 4.10 4.10 4.10 -0.10 8.10 72.12 69.00 69.00 69.00 -3.12 21.27 57.00 58.09 57.00 57.00 0.00 3.36 23.55 23.00 23.00 23.55 0.00 1.17 10.86 10.51 10.51 10.86 0.00 7.14 3.56 3.20 3.10 3.14 -0.42 14.27 2873.23 3016.00 2729.60 2839.64 -33.59 0.24 2.95 2.75 2.65 2.75 -0.20 3.08 8.30 9.00 8.70 8.99 0.69 4.15 61.09 64.14 58.04 61.95 0.86 0.30 4.65 5.38 4.15 4.15 -0.50 15.00 41.97 44.06 41.00 42.00 0.03 19.74 4145.50 4298.99 4005.01 4229.55 84.05
Performance of SR Construction and Materials Index Open 897.24 Turnover 3,425,770 P/E (x) 6.33
69.60 67.00 67.24 -2.91 195.00 193.00 193.73 0.41 138.99 132.05 136.80 0.25 2.17 1.85 1.90 -0.06 23.00 22.50 23.00 -0.13 4.60 4.35 4.45 -0.05 4.50 4.15 4.20 -0.30 10.95 10.70 10.70 -0.20 63.40 61.60 63.00 0.21 23.85 22.50 22.81 -0.44
2010 Div BR (%) (%)
% Change -0.48 5-Day High 1,271.48 5-Day Low 1,254.24
RSI (14-day)
Performance of SR Household Goods Index
Last 60 days High Low
Volume
-
FOOD PRODUCERS
Performance of SR Industrial Metals and Mining Index High Low 1,026.43 988.65 Total cos Defaulter cos P/BV (x) ROE (%) 1.04 33.10
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
Performance of SR Food Producers Index
INDUSTRIAL METALS AND MINING Open 1,011.09 Turnover 48,982 P/E (x) 3.13
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,568.42 Turnover 19,540,942 P/E (x) 9.52
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,260.30 Turnover 207,174 P/E (x) 4.40
Gul Ahmed Textile Mills Ltd
% Change 1.14 5-Day High 754.58 5-Day Low 719.80
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
Performance of SR Pharma and Bio Tech Index
Change -7.43 Market cap 33,529.42 mn Div Yield (%) 15.81
Last 60 days High Low
% Change -0.48 5-Day High 1,582.04 5-Day Low 1,551.60
2010 Div BR (%) (%)
2011 Div BR (%) (%)
Ados Pak AL-Ghazi Tractor
66 215
0.97 15.05 5.51 229.07
15.99 14.10 15.05 235.00 225.50 230.04
0.00 0.97
194 4327
18.20 244.95
14.10 207.50
150
-
-
-
Bolan Casting Ghandhara Ind Hinopak Motor
104 213 124
- 46.15 9.78 10.59 - 128.00
45.70 45.70 46.15 0.00 11.37 10.01 10.56 -0.03 129.90 121.60 128.00 0.00
387 3001 196
48.63 13.50 147.89
42.90 10.01 118.75
25 -
10B -
-
-
KSB Pumps Millat TractorsSPOT Pak Engineering
132 7.26 60.60 366 8.25 538.28 57 378.83 138.00
61.25 60.00 60.60 0.00 543.00 535.00 535.46 -2.82 144.90 131.12 136.38 -1.62
300 24190 682
71.50 568.40 301.84
58.55 482.03 131.12
650 100
25B325.00 -
-
Open 892.42 Turnover 50,019 P/E (x) 6.88 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 100 96 306
PE
Open
8.14 94.08 6.88 91.11 13.01 73.06 7.47 26.16 7.15 9.24 7.59 33.99 6.62 161.98 5.31 60.00
High
High Low 908.71 872.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.53 22.31 Low
Close Chg
95.00 91.25 92.90 -1.18 93.99 90.51 91.11 0.00 74.90 71.36 72.35 -0.71 27.00 26.15 26.98 0.82 9.10 8.25 8.86 -0.38 34.00 33.70 33.99 0.00 169.85 153.89 153.89 -8.09 60.00 58.50 59.07 -0.93
Close 883.46 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 15393 218 911 8582 7323 200 15027 2360
Change -8.96 Market cap 29,491.14 mn Div Yield (%) 6.47
Last 60 days High Low 112.50 98.00 89.98 30.48 9.99 35.70 174.00 69.00
91.25 82.50 70.00 24.15 7.16 32.00 116.00 58.50
2010 Div BR (%) (%) 20 100 30
20B -
% Change -1.00 5-Day High 910.63 5-Day Low 883.46 2011 Div BR (%) (%) 15 -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
37.87
Total Assets (Rs in mn)
MA (10-day)
2.62
Total Equity (Rs in mn)
MA (100-day)
2.86
Revenue (Rs in mn)
26,094.94 4,134.21 13,630.51
MA (200-day)
3.15
Interest Expense
1st Support
2.53
Loss after Taxation
2nd Support
2.43
EPS 10 (Rs)
2,059.48
1st Resistance
2.70
Book value / share (Rs)
2nd Resistance
2.77
PE 11 E (x)
Pivot
2.60
PBV (x)
(2,583.96) (6.941) 11.11 0.23
MLCF closed up 0.01 at 2.58. Volume was 11 per cent below average and Bollinger Bands were 39 per cent narrower than normal. The company's loss after taxation stood at Rs618.798 million which translates into a Loss Per Share of Rs1.49 for the 1st quarter of current fiscal year (1QFY11). MLCF is currently 18.2 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 very strong flows of volume out of MLCF (bearish). Trend forecasting oscillators are currently bearish on MLCF.
Japan Power Generation Ltd
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
40.19
Total Assets (Rs in mn)
7,598.16
MA (10-day)
1.61
Total Equity (Rs in mn)
(1,042.83)
MA (100-day)
1.63
Revenue (Rs in mn)
MA (200-day)
1.79
Interest Expense
1st Support
1.50
Loss after Taxation
2nd Support
1.42
EPS 10 (Rs)
1st Resistance
1.68
Book value / share (Rs)
2nd Resistance
1.78
PE 11 E (x)
Pivot
1.60
PBV (x)
2,731.94 691.43 (452.35) (2.899) (6.68) (0.23)
JPGL closed down -0.03 at 1.54. Volume was 62 per cent below average (consolidating) and Bollinger Bands were 1 per cent narrower than normal. The company's loss after taxation stood at Rs403.263 million which translates into a Loss Per Share of Rs2.58 for the 1st quarter of current fiscal year (1QFY11). JPGL is currently 14.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into JPGL (bullish). Trend forecasting oscillators are currently bearish on JPGL.
BOOK CLOSURES Company
From
To
(TFC) Pakarab Fertilizers Int. Ind (Consolidated) KASB Cash Fund Kohinoor Mills # Ideal Energy # Olympia Spng & Weaving Mills # Millat Tractors Faysal Balanced Growth Fund Faysal Income & Growth Fund Faysal Savings Growth Fund Faysal Islamic Savings Fund Faysal Money Market Fund Shadman Cotton Mills Reliance Cotton Spng Mills # Mehran Sugar Mills Frontier Ceramics Gharibwal Cement Ansari Sugar Mills Tandlianwala Sugar Mills Zeal Pak Cement Descon Oxychem #
15-Feb 16-Feb 17-Feb 17-Feb 18-Feb 18-Feb 18-Feb 18-Feb 18-Feb 18-Feb 18-Feb 18-Feb 19-Feb 19-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb
28-Feb 24-Feb 24-Feb 26-Feb 26-Feb 24-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb
D/B/R 15(I) 325(I) 5 7.5(I) -
Spot AGM/Date 08-Feb 09-Feb 10-Feb 10-Feb -
24-Feb 26-Feb 26-Feb 26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Shifa Int.Hospitals Eye Television Media Times LtdXR P.I.A.C.(A) Pace (Pak) Ltd. Netsol Technologies Pak Telephone
Open 54 3.08 94.42 0.9 166.92 33.3 18.98 18.35 2.5 3.1 23.02 2.68
High 54.01 3.19 97 1 166.75 32.25 19.7 19.34 2.91 3.15 23.8 2.7
Low Close 54 3.02 92.5 1 158.58 31.64 19.34 17.4 2.6 2.96 22.56 1.68
54 3.07 94.38 1 163.04 31.7 19.41 19.26 2.87 2.99 23.21 1.68
Change 0 -0.01 -0.04 0.1 -3.88 -1.6 0.43 0.91 0.37 -0.11 0.19 -1
Vol 3765 656994 6513 500 9724 2550 2639 2793 1557163 811369 763354 2006
7
Tuesday, February 15, 2011 Ask Gen Insurance
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,062.26 Turnover 1,317,484 P/E (x) 5.71 Paid up Cap(mn)
Company
Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,083.47 1,047.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.73 12.84
PE
Open
High
Low
Close Chg
37740 12.16 3000 0.62 8606 6175 -
17.95 2.06 2.57 3.40
18.30 2.14 2.63 3.49
17.70 2.05 2.50 3.36
18.24 2.08 2.54 3.41
0.29 0.02 -0.03 0.01
Close 1,076.91 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 754805 78938 483729 91720
Change 14.66 Market cap 74,368.70 mn Div Yield (%) 10.97
% Change 1.38 5-Day High 1,103.93 5-Day Low 1,062.26
Last 60 days High Low
2010 Div BR (%) (%)
20.65 2.67 3.45 4.65
17.5 1 -
17.70 2.01 2.50 3.36
2011 Div BR (%) (%)
-
-
204
6.27
Paid up Cap(mn)
PE
Open
High
Low
Genertech 198 Hub Power 11572 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 Kot Addu Power 8803 Nishat Chunian Power Ltd 3673 Nishat Power Ltd 3541 Sitara Energy Ltd 191 Southern Electric 1367 Tri-star Power XD 150
6.89 9.85 5.02 3.53 2.46 3.26 -
0.66 37.11 1.57 2.70 17.71 41.49 16.20 16.79 17.52 2.01 1.00
0.78 37.70 1.70 2.79 18.60 41.65 16.55 17.01 18.00 2.05 0.90
0.72 37.00 1.52 2.65 17.52 41.00 16.05 16.41 17.50 1.98 0.84
Company
Close 1,293.54 Listed cap 95,369.29 mn Payout (%) 104.13
Change 11.10 Market cap 105,819.99 mn Div Yield (%) 7.51
Close Chg
Volume
Last 60 days High Low
0.71 37.62 1.54 2.73 17.73 41.34 16.11 16.80 17.50 2.00 0.90
260310 528748 156330 268746 1103 119972 711199 1836200 2228 116770 3039
1.18 41.20 2.15 3.55 22.85 45.85 18.01 18.70 19.35 2.80 1.49
0.05 0.51 -0.03 0.03 0.02 -0.15 -0.09 0.01 -0.02 -0.01 -0.10
0.65 34.16 1.50 2.16 17.25 39.00 13.32 14.25 16.50 1.90 0.70
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
Open 1,597.66 Turnover 1,142,774 P/E (x) 10.22 Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 8390
7.34 3.88
Open
High Low 1,625.51 1,571.98 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 11.41
High
24.56 25.85
24.94 26.35
Low 24.15 25.45
Company
PE
24.65 0.09 25.73 -0.12
Volume 376312 766462
Change -0.88 Market cap 35,122.09 mn Div Yield (%) 6.54
Last 60 days High Low 31.50 27.90
24.15 19.95
% Change -0.05 5-Day High 1,700.89 5-Day Low 1,596.78
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
-
-
-
10B
-
-
Symbols CSMD KOHTM KOSM MEHT GSPM PASM GLPL GAMON INDU NESTLE TRPOL NMBL SHCM OLPL PAKT NPSM RCML PAKD FECS FTSM FNEL RUBY SANSM TSMF UPFL BFMOD SCLL DIIL FCONM MODAM MWMP WYETH AKDCL FIBLM FUDLM LAKST SMTM TICL ATEL BATA IFSL KOHS LPGL TOWL DMTM ELSM GUTM KOIL LEUL PICTPS PMRS PRET SAPT SCL SFL UDPL UVIC AASM ATFF BGL BWHL COLG CSUML DINT ESBL FPRM GVGL JKSM JVDC
Century Insurance EFU General Insurance IGI Insurance New Jub Insurance Pak Reinsurance PICIC Ins Ltd
457
6.25
9.58
10.00
10.00
10.00 0.42
1000
11.99
9.50
-
-
-
-
1250
-
38.65
39.99
37.85
37.98 -0.67
42329
47.90
37.50
-
-
-
-
718
8.27
96.81
101.00
96.00
96.32 -0.49
121343
101.00
81.10
30
55B
1237 24.57
-
-
791 15.53
58.81
58.95
57.25
57.60 -1.21
3758
61.80
55.10
-
-
-
-
3000 43.64
16.72
17.25
16.50
17.02 0.30
334124
19.40
15.70
-
-
-
-
-
8.99
8.99
8.30
8.95 -0.04
500
10.75
6.01
-
-
-
-
350
Premier Insurance
303
6.01
11.08
11.20
10.90
11.11 0.03
5803
12.93
9.61
-
-
-
-
Reliance Insurance XB
252
4.29
6.90
7.00
6.80
7.00 0.10
2913
7.10
6.40
-
-
-
-
LIFE INSURANCE Performance of SR Life Insurance Index Open 734.27 Turnover 32,275 P/E (x) 5.43 Company
High Low 744.34 715.11 Total cos Defaulter cos P/BV (x) ROE (%) 2.11 3.85
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Close 741.09 Listed cap 2,290.72 mn Payout (%) 355.53
Change 6.82 Market cap 8,721.47 mn Div Yield (%) 6.49
Volume
Last 60 days High Low
251
% Change 0.93 5-Day High 750.29 5-Day Low 728.76
2010 Div BR (%) (%)
2011 Div BR (%) (%)
American Life
500
5.55
16.60
16.99
15.60
16.60 0.00
19.85
15.60
-
-
-
-
East West Life
500
-
1.61
2.00
1.60
2.00 0.39
30519
4.62
1.52
-
20R
-
-
EFU Life Assurance
850 34.52
60.10
61.00
58.10
60.75 0.65
1505
86.95
58.10
-
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 381.69 Turnover 3,268,060 P/E (x) 11.67 Paid up Cap(mn)
PE
Open
High Low 393.68 377.91 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 0.91
High
Low
Close Chg
Close 384.84 Listed cap 30,336.44 mn Payout (%) 99.56
Change 3.15 Market cap 18,042.07 mn Div Yield (%) 3.55
Last 60 days High Low
Volume
% Change 0.83 5-Day High 402.64 5-Day Low 381.69
2010 Div BR (%) (%)
2011 Div BR (%) (%)
AMZ Ventures
225
1.48
0.61
0.65
0.55
0.65 0.04
20551
0.95
0.33
-
-
-
-
Arif Habib Investments
360
4.70
22.79
23.92
22.49
23.88 1.09
138266
23.92
16.80
-
20B
-
-
450 12.33
49319
28.00
2343970
23.79
24.28
23.25
24.16 0.37
23.25
-
20B
-
-
3750
4.44
24.00
24.55
23.80
24.18 0.18
30.20
23.35
30
-
-
-
Dawood Cap Mangt. XB 150
Arif Habib Limited
1.22
1.60
1.90
1.25
1.37 -0.23
25023
2.14
1.15
-
-
-
-
250
-
1.86
1.75
1.62
1.70 -0.16
12500
2.75
1.28
-
-
-
-
215
Arif Habib Corp Dawood Equities Grays Leasing
-
2.10
1.90
1.90
2.10 0.00
114
3.00
0.18
-
-
-
-
IGI Investment Bank
2121 10.23
2.36
2.58
2.57
2.25 -0.11
36505
3.90
2.26
-
-
-
-
Invest Bank
2849
-
0.58
0.60
0.52
0.52 -0.06
1576
1.09
0.46
-
-
-
-
Ist Cap Securities
3166
-
3.26
3.38
3.11
3.21 -0.05
17002
3.95
2.95
-
10B
-
1.90
1.70
1.70 0.00
2.14
1.05
-
-
-
-
10.39
10.70
10.35
10.55 0.16
2567878
14.05
10.05
10
-
-
-
Performance of SR Banks Index
JOV and CO
508
-
3.60
3.70
3.60
3.64 0.04
116290
4.60
3.20
-
-
-
-
JS Global Cap
500
6.92
25.76
26.34
25.70
25.76 0.00
32.00
25.00
-
-
-
-
Open
High
Low
Close Chg
69.50 68.00 68.97 0.18 16.00 15.60 15.76 -0.22 10.85 10.55 10.71 -0.07 35.60 35.10 35.25 -0.48 4.25 4.10 4.10 0.00 8.18 7.95 8.02 -0.03 3.90 3.60 3.66 -0.04 13.97 13.67 13.83 0.09 122.72 121.00 122.15 0.00 24.85 24.01 24.15 -0.85 2.71 2.59 2.71 0.07 1.75 1.56 1.63 0.02 211.00 207.10 209.87 2.22 18.50 17.85 18.00 -0.15 2.66 2.55 2.55 0.00 74.38 73.25 74.17 0.04 2.65 2.54 2.63 0.01 1.88 1.75 1.75 -0.06 2.47 2.30 2.34 -0.09 6.89 6.61 6.65 -0.05 7.54 7.00 7.05 -0.06 3.46 3.37 3.40 -0.06 64.50 63.00 63.52 -0.26
Volume
Change 0.12 Market cap 674,331.47 mn Div Yield (%) 5.08
Last 60 days High Low
243676 74.00 277526 19.25 553024 11.99 82535 39.49 3715 4.70 1211920 10.59 49502 4.50 20605 16.47 239870 128.97 13291 29.28 168009 2.95 65632 2.80 558722 250.48 101690 20.30 54190 3.40 1929180 80.61 461448 3.35 52002 2.17 1796502 3.05 55349 8.48 6182 9.04 148055 4.63 330426 70.65
57.20 15.60 9.50 33.00 3.65 7.95 3.00 13.50 102.55 20.66 2.30 1.49 202.00 14.80 1.90 65.31 2.54 1.70 2.30 6.61 7.00 2.74 57.80
% Change 0.01 5-Day High 1,163.53 5-Day Low 1,106.15
2010 Div BR (%) (%)
Open 84.45
High 85.05
High Low 772.02 744.32 Total cos Defaulter cos P/BV (x) ROE (%) 0.62 5.20 Low 82.50
Close Chg 84.75 0.30
Close 757.01 Listed cap 11,111.34 mn Payout (%) 79.54
-
-
Volume 263966
Last 60 days High Low 96.40
79.25
% Change -0.19 5-Day High 795.43 5-Day Low 757.01
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
6.60
6.44
6.58 0.19
307
JS Investment
1000 27.42
6.20
-
-
-
-
1000
-
4.51
4.88
4.70
4.70 0.19
10001
5.43
3.80
-
-
-
-
775
-
1.86
1.90
1.80
1.82 -0.04
78816
2.50
1.80
-
-
-
-
Sec Inv Bank
514 10.80
2.75
2.70
2.70
2.70 -0.05
1000
4.99
2.00
-
-
-
-
Trust Inv Bank
586
1.28
1.31
1.31
1.31 0.03
2000
2.70
1.24
-
-
-
-a
2.05
6.39
1001
KASB Securities Pervez Ahmed Sec
2011 Div BR (%) (%)
40 10B - 20B - 66R 85 10B - 15B -63.46R 10 -
Change -1.48 Market cap 47,088.58 mn Div Yield (%) 6.63
Ist Dawood Bank
-
1.70
-
High Low Close 1,118.06 1,093.67 1,106.27 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.11 13.94 40.49
UP TO 100 VOLUME
-
10
0.61
Open 758.48 Turnover 789,324 P/E (x) 11.99
Adamjee Insurance
-
34.00 56.01
626
Performance of SR Non Life Insurance Index
PE
25R
40.00 83.00
7633
NON LIFE INSURANCE
Company
-
6855 6429
Jah Siddiq Co
Allied Bank Limited 7821 6.51 68.79 Askari Bank 6427 7.50 15.98 Bank Alfalah 13492 13.73 10.78 Bank AL-Habib 7322 7.60 35.73 Bank Of Khyber 5004 5.47 4.10 Bank Of Punjab 5288 8.05 BankIslami Pak 5280 915.00 3.70 Faysal Bank 7327 4.46 13.74 Habib Bank Ltd 10019 7.63 122.15 Habib Metropolitan Bank 8732 7.39 25.00 JS Bank Ltd 8150 2.64 KASB Bank Ltd 9509 1.61 MCB Bank Ltd 7602 9.45 207.65 Meezan Bank 6983 7.63 18.15 Mybank Ltd 5304 2.55 National Bank 13455 6.48 74.13 NIB Bank 40437 2.62 Samba Bank 14335 1.81 Silkbank Ltd 26716 2.43 Soneri Bank 6023 6.70 Stand Chart Bank 38716 10.85 7.11 Summit Bank Ltd XR 7251 3.46 United Bank Ltd 12242 7.46 63.78
Paid up Cap(mn)
10.00
37.56 -0.03 64.15 -3.36
BANKS Open 1,106.15 Turnover 8,275,016 P/E (x) 7.97 Paid up Cap(mn)
Close Chg
Close 1,596.78 Listed cap 12,202.80 mn Payout (%) 66.79
12.75
37.10 64.14
Company
Performance of SR Gas Water and Multiutilities Index
302
37.78 68.90
-
GAS WATER AND MULTIUTILITIES
10.34 0.00
37.59 67.51
-
% Change 0.87 5-Day High 1,340.60 5-Day Low 1,282.44
10.04
5.97 7.29
ELECTRICITY High Low 1,302.80 1,274.11 Total cos Defaulter cos P/BV (x) ROE (%) 1.30 9.35
10.05
369 279
Performance of SR Electricity Index Open 1,282.44 Turnover 4,004,645 P/E (x) 13.86
10.34
Atlas Insurance Central Insurance XB
189873
7.59
EQUITY INVESTMENT INSTRUMENTS
Paid up Cap(mn)
Company 1st Fid Leasing
PE
264 10.00
AL-Meezan Mutual F.
1375
9.02
Open
High Low 1,500.31 1,434.50 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 2.21
High
Low
Close Chg
2.00
1.75
1.60
1.60 -0.40
10.72
10.90
10.51
10.82 0.10
Close 1,440.95 Listed cap 29,771.58 mn Payout (%) 104.74
Change -26.00 Market cap 19,374.52 mn Div Yield (%) 8.07
Last 60 days High Low
Volume 6326 284879
6.26 1.48 1.25 58.95 7.26 12.05 55.99 1.70 289.00 3351.10 0.56 1.41 15.30 6.18 111.92 25.00 42.00 78.50 35.97 1.45 5.76 8.00 12.15 1.29 1340.32 3.33 2.30 10.11 1.48 1.31 1.40 1065.00 41.80 1.62 6.22 240.01 6.00 56.50 40.53 625.25 7.69 3.21 10.15 8.08 4.49 22.45 19.29 1.43 1.00 7.06 43.94 30.30 109.00 90.00 102.87 14.25 2.70 24.52 5.90 2.25 35.59 900.00 2.94 28.41 2.39 9.00 23.50 7.24 59.70
High 6.30 2.29 0.90 56.25 7.59 12.50 55.00 2.03 289.00 3490.89 0.88 1.49 16.30 6.25 111.78 26.25 43.00 78.40 37.76 2.25 6.34 9.00 12.20 1.49 1370.00 3.79 2.70 11.11 1.90 1.50 1.40 1075.00 42.95 2.05 6.38 252.00 7.00 59.30 41.50 638.00 7.49 4.00 10.90 9.08 4.40 22.90 20.29 1.58 2.00 6.56 42.19 30.49 109.50 90.00 107.95 14.95 2.65 23.38 6.38 2.74 33.82 925.99 3.45 29.69 2.69 9.68 22.33 6.41 62.50
Low
Close
6.30 2.29 0.90 56.25 7.55 12.50 53.20 1.01 277.50 3311.00 0.88 0.91 16.00 5.81 109.99 23.80 42.99 78.40 37.75 1.90 5.02 9.00 12.20 1.49 1290.00 3.79 1.67 9.36 1.90 1.50 1.40 1075.00 40.24 1.66 6.38 246.68 5.06 53.68 38.51 637.50 7.05 2.45 9.15 7.10 3.65 22.90 20.29 1.50 1.20 6.56 42.19 30.49 109.50 90.00 107.95 14.95 2.50 23.38 6.38 2.74 33.82 925.99 3.45 29.69 2.69 9.68 22.33 6.41 62.50
6.26 1.48 1.25 58.95 7.26 12.05 55.99 1.70 289.00 3428.11 0.56 1.41 15.30 6.18 111.78 25.00 42.00 78.50 35.97 1.45 5.76 8.00 12.15 1.29 1340.32 3.33 2.30 10.11 1.48 1.31 1.40 1065.00 41.80 1.62 6.22 246.68 6.00 56.50 40.53 625.25 7.69 3.21 10.15 8.08 4.49 22.45 19.29 1.43 1.20 7.06 43.94 30.30 109.00 90.00 102.87 14.25 2.70 24.52 5.90 2.25 35.59 900.00 2.94 28.41 2.39 9.00 23.50 7.24 59.70
Change
Vol
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 77.01 0.00 0.00 0.00 0.00 -0.14 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 0.00 0.00 0.00 0.00 6.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.20 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 0.00 0.00 0.00 0.00
100 100 100 100 98 79 72 65 60 54 50 20 19 17 17 15 15 12 11 11 10 10 10 10 8 7 7 5 5 5 5 5 4 4 4 4 4 4 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
Performance of SR Equity Investment Instruments Index Open 1,466.95 Turnover 2,576,487 P/E (x) 20.16
Open
% Change -1.77 5-Day High 1,521.37 5-Day Low 1,404.52
2010 Div BR (%) (%)
2011 Div BR (%) (%)
Symbols
Open
ANL-FEB
10.38
10.75
10.32
10.63
0.25
900000
ENGRO-FEB 211.24
217.90
High
207.02
Low
215.46
Close
Change 4.22
808500
Vol
0.04
690000
NBP-FEB
74.51
74.70
73.49
74.55
POL-FEBB
304.31
306.00
300.10
303.42
-0.89
355500
NML-FEB
64.00
64.40
63.25
63.98
-0.02
313500
FFBL-FEB
41.03
41.50
40.70
41.37
0.34
281500
MCB-FEB
208.81
211.39
207.00
210.89
2.08
245500
PSO-FEB
274.74
278.05
273.10
275.98
1.24
176500
FFC-FEBB
118.34
118.40
117.10
118.17
-0.17
131000
205.55
2.34
1.16
-
-
-
-
PPL-FEB
206.00
204.00
205.40
-0.15
128500
11.50
6.21
18.5
-
-
-
LUCK-FEB
67.85
69.68
67.50
68.83
0.98
95500
NETSOL-FEB 23.07
23.99
22.15
23.28
0.21
87000
8.06
8.07
8.00
8.06
0.00
DGKC-FEB
27.09
27.29
26.60
26.97
-0.12
68000
NCL-FEB
25.43
26.70
24.70
26.70
1.27
55000
B R R Guardian Mod.
780
3.16
1.44
1.41
1.31
1.39 -0.05
6021
2.79
1.30
0
-
-
-
Crescent St Modaraba
200
1.48
0.66
0.60
0.50
0.59 -0.07
11834
0.87
0.16
1.2
-
-
-
Equity Modaraba
524 12.38
2.00
2.24
1.95
1.98 -0.02
6003
2.98
1.30
-
-
-
-
First Dawood Mutual F.
581
0.66
2.25
2.37
2.06
2.10 -0.15
5051
2.57
1.61
-
-
-
-
AICL-FEB
84.89
85.01
83.25
84.60
-0.29
40500
Golden Arrow
760
2.35
3.32
3.45
3.26
3.29 -0.03
42506
3.89
2.67
17
-
-
-
PTC-FEB
18.03
18.25
17.60
18.21
0.18
18000
H B L Modaraba
397
2.57
7.40
7.70
7.69
7.70 0.30
500
9.00
6.31
11
-
-
-
UBL-FEB
63.75
64.09
63.75
64.09
0.34
14500
BOP-FEB
Habib Modaraba
1008
6.12
7.10
7.13
7.05
7.10 0.00
1420
7.30
6.40
21
-
-
-
164.71
-1.37
12000
POL-CFEBW3312.15
312.15
312.15
311.75
-0.40
0.00
JS Growth Fund
3180 72.50
5.80
6.00
5.79
5.80 0.00
377302
6.17
3.34
5
-
-
-
ENGRO-CFEBW3209.97
209.97
209.97
215.05
5.08
JS Value Fund
1186
1.31
5.53
5.89
5.31
5.46 -0.07
27914
6.61
3.19
10
-
-
-
MCB-CFEBW3207.55
207.55
207.55
210.27
2.72
0.00
283
1.76
2.00
2.79
2.40
2.40 0.40
2502
3.50
1.26
2.8
-
-
-
PPL-CFEBW3 204.88
204.88
204.88
204.83
-0.05
0.00
1200
2.62
9.47
9.55
9.07
9.12 -0.35
698473
10.24
5.20
15.5
-
-
-
OGDC-CFEBW3166.75
166.75
166.75
165.27
-1.48
0.00
149.17
149.17
149.72
0.55
0.00
KASB Modaraba Meezan Balanced Fund
OGDC-FEB
166.08
FFC-CFEBW3 149.17
166.10
163.51
83500
0.00
NAMCO Balanced Fund 1000
6.25
4.00
4.10
4.10
4.00 0.00
239
4.73
2.92
15
-
-
-
Pak Modaraba
125
4.75
0.92
1.15
0.95
0.95 0.03
728
2.00
0.46
3
-
-
-
PICIC Energy Fund
1000
3.27
8.12
8.40
7.80
7.92 -0.20
365309
8.83
5.31
10
- 10.00
-
Symbols
Open
High
Low
Close
PICIC Growth Fund
2835
4.12
14.66
14.70
13.70
13.75 -0.91
502330
16.49
8.85
20
- 12.50
-
BROT
0.89
0.85
0.85
0.85
-0.04
PICIC Inv Fund
2841
3.55
6.84
6.94
6.41
6.53 -0.31
224083
7.95
4.29
10
-
-
CWSM
1.95
1.92
1.92
1.92
-0.03
0.00
NCLNCP
23.11
23.43
23.43
23.43
0.32
0.00
SING
23.30
22.59
22.59
22.59
-0.71
0.00
SUTM
33.01
34.00
34.00
34.00
0.99
0.00
7.50
Prud Modaraba 1st
872
2.27
1.00
1.09
1.00
1.00 0.00
1397
1.20
0.81
3
-
-
-
Stand Chart Modaraba
454
5.02
9.70
10.25
9.50
10.24 0.54
11622
10.29
8.51
17
-
-
-
ZERO VOLUME Change
Vol 0.00
BOARD MEETINGS
Engro Corporation
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
35.70
Support 1
11,867.20
MA (5-day)
12,147.42
Support 2
11,788.30
MA (10-day)
12,245.47
Resistance 1
12,033.25
11,334.50
Resistance 2
12,120.40
MA (100-day)
10,624.18
Pivot
cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,033.25 and 2nd resistlevel at 11,867.20 and 2nd support level at 11,788.30.
*Invest Cap
Fair Value
Rs Recommendations
75.5
Neutral
TFD Research
245.4
Positive
TFD Research
44.25
Neutral
TFD Research
92.3
Positive
Technical Outlook Technical Analysis
Leverage Position
55.49 216.02 190.80 186.55
Free Float Shares (mn) 147.48 Free Float Rs (mn) 31,655.44 ** NOI Rs (mn) 175.71 Mean 211.98
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
38.63 76.23 70.13 68.36
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.50 23,622.99 134.53 73.98
* Target price for Jun-11 & **Net Open Interest in future market
FFBL is currently 31.4 per cent above its 200-day moving average and is NBP is currently 8.5 per cent above its 200-day moving average and is disdisplaying an upward trend. Volatility is extremely low when compared to playing a downward trend. Volatility is relatively normal as compared to the the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of FFBL at a relatively equal pace. reflect volume flowing into and out of NBP at a relatively equal pace. Trend Trend forecasting oscillators are currently bullish on FFBL.
Fauji Fertiliser Co
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
38.14
Buy
AKD Securities Ltd
145
Neutral
AKD Securities Ltd
TFD Research
36.55
Positive
TFD Research
139.5
Neutral
TFD Research
Technical Outlook
Technical Outlook
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
58.94 149.99 121.74 114.57
forecasting oscillators are currently bearish on NBP.
Pakistan Oilfields Ltd
Nishat Mills Ltd
AKD Securities Ltd
* Target price for Jun-11 & **Net Open Interest in future market
326.94 13,466.60 77.21 41.00
* Target price for Jun-11 & **Net Open Interest in future market
*Invest Cap
200.80 5,397.63 36.33 26.88
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
77 71.45 78.6
Rs Recommendations
Brokerage House
373.19 55,769.50 37.25 149.24
* 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)
41.80 65.40 58.37 52.90
Fair Value
Rs Recommendations
Buy
*Invest Cap
Accumulate
AKD Securities Ltd
322.42
Neutral
Positive
TFD Research
381.35
Positive
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
360
Hold
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
175.80 11,221.31 67.22 63.84
* 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)
38.51 324.42 279.03 252.07
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
107.94 33,587.53 151.62 311.70
* Target price for Jun-11 & **Net Open Interest in future market
DGKC closed down -0.12 at 26.88. Volume was 68 per cent below average FFC closed up 0.20 at 149.44. Volume was 37 per cent below average and NML closed down -0.08 at 63.83. Volume was 82 per cent below average POL closed down -1.14 at 311.16. Volume was 60 per cent below average (consolidating) and Bollinger Bands were 0 per cent wider than normal. Bollinger Bands were 39 per cent narrower than normal. DGKC is currently 0.3 per cent above its 200-day moving average and is FFC is currently 30.4 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of DGKC (mildly bearish). Trend forecasting oscillators are currently bearish on DGKC. Momentum oscillator is reflect volume flowing into and out of FFC at a relatively equal pace. Trend currently indicating that DGKC is currently in an oversold condition.
forecasting oscillators are currently bullish on FFC.
(consolidating) and Bollinger Bands were 15 per cent narrower than normal. (consolidating) and Bollinger Bands were 26 per cent narrower than normal. NML is currently 20.7 per cent above its 200-day moving average and is POL is currently 23.4 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of NML at a relatively equal pace. Trend reflect moderate flows of volume out of POL (mildly bearish). Trend foreforecasting oscillators are currently bearish on NML.
casting oscillators are currently bearish on POL.
Time
15-Feb 15-Feb 15-Feb 15-Feb 15-Feb 16-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb 17-Feb
10:30 12:00 10:30 10:30 11:00 9:30 12:00 12:00 12:00 12:00 12:30 2:30 4:00 1:00 4:00 11:00 10:30 4:00 4:00 4:00
TECHNICAL LEVELS
ENGRO closed up 4.57 at 214.64. Volume was 36 per cent above average FFBL closed up 0.34 at 41.19. Volume was 64 per cent below average (con- NBP closed up 0.04 at 74.17. Volume was 55 per cent below average (conand Bollinger Bands were 19 per cent narrower than normal. solidating) and Bollinger Bands were 45 per cent narrower than normal. solidating) and Bollinger Bands were 26 per cent narrower than normal.
Hold
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Leverage Position
57.67 41.13 34.61 31.35
Date
Otsuka Pakistan Limited. Kohinoor Energy Limited JS Investments Limited JS Growth Fund Goodluck Industries Ltd ICI Pakistan Limited Dawood Money Market Fund Dawood Capital Management Dawood Islamic Fund First Dawood Mutual Fund Allawasaya Textile Mills Ltd Unilever Pakistan Foods Ltd KASB Liquid Fund Kot Addu Power Company Limited KASB Stock Market Fund Bank Al Habib Limited Al Meezan Mutual Fund Ltd KASB Balanced Fund KASB Islamic Income Fund KASB Cash Fund
Company
Technical Outlook
Technical Outlook
149
29.44 28.51 28.33 26.79
Sell
AKD Securities Ltd
*Invest Cap
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
52.4
Accumulate
Buy
Leverage Position
Fair Value
*Invest Cap
45.52
36
Technical Analysis
Brokerage House
Hold
AKD Securities Ltd
Dera Ghazi Khan Cement Co Ltd
Brokerage House
Rs Recommendations
39
Neutral
Trend forecasting oscillators are currently bullish on ENGRO.
*Invest Cap
Fair Value
229.9
KSE 100 INDEX is currently 12.5 per cent above its 200-day moving ENGRO is currently 15.1 per cent above its 200-day moving average and average and is displaying a downward trend. Volatility is relatively nor- is displaying an upward trend. Volatility is extremely low when compared to mal as compared to the average volatility over the last 10 trading sesthe average volatility over the last 10 trading sessions. Volume indicators sions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bear- reflect volume flowing into and out of ENGRO at a relatively equal pace. ish on INDEX.
Brokerage House
Hold
AKD Securities Ltd
11,954.35
ance level at 12,120.40, while Index will continue to find its 1st support
Rs Recommendations
210
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 2.75 points at 11,946.09. Volume was 57 per MA (100-day) cent below average (consolidating) and Bollinger Bands were 10 per MA (200-day) MA (200-day)
Fair Value
*Invest Cap
National Bank of Pakistan
Fauji Fertiliser Bin Qasim Ltd
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.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 40.06 2.65 2.45 43.97 68.15 67.30 15.41 49.30 47.75 38.52 23.80 23.45 35.14 23.50 22.85 36.86 83.15 81.55 29.46 15.60 15.40 45.92 10.35 10.15 44.77 362.20 357.60 33.93 112.80 110.40 38.59 10.55 10.40 42.03 3.55 3.40 29.21 7.90 7.80 41.41 1.80 1.75 29.93 26.50 26.10 47.97 2.90 2.85 29.61 2.20 2.15 34.21 37.25 36.45 24.96 58.90 57.05 55.45 208.25 201.85 36.18 13.65 13.50 31.17 4.40 4.30 57.73 40.75 40.30 59.73 148.25 147.05 47.32 121.20 120.25 45.22 37.20 36.75 44.95 142.45 140.85 57.52 281.35 273.65 42.12 3.60 3.55 40.18 1.50 1.40 60.90 2.65 2.55 44.21 10.35 10.20 38.31 41.00 40.70 45.52 2.65 2.60 57.60 15.75 15.55 36.18 67.20 65.65 32.88 207.65 205.40 36.98 2.50 2.40 39.07 73.50 72.80 69.54 25.70 24.65 46.29 22.60 21.95 34.80 2.55 2.50 61.66 2.50 2.35 42.09 63.20 62.60 31.18 162.70 160.40 49.68 2.90 2.85 37.50 1.80 1.75 62.81 2.65 2.50 31.41 5.95 5.80 39.06 308.25 305.35 35.43 203.05 201.65 33.08 61.95 60.85 32.39 272.10 269.30 36.52 17.85 17.50 44.24 205.00 202.75 29.94 24.20 23.80 51.34 13.30 13.10 65.38 25.35 24.95 42.83 2.05 2.00 37.83 3.00 2.90 35.78 62.85 62.15 38.39 2.50 2.45
1st 2nd Resistance 3.15 3.45 69.65 70.30 51.70 52.55 24.55 24.95 24.55 24.95 85.70 86.65 16.00 16.20 10.75 10.90 371.65 376.55 116.75 118.35 10.85 11.00 3.85 4.00 8.15 8.30 2.00 2.10 27.25 27.55 3.05 3.15 2.45 2.65 39.35 40.75 61.80 62.85 219.00 223.40 13.95 14.10 4.60 4.75 41.50 41.80 150.45 151.45 122.90 123.70 37.90 38.15 145.85 147.65 292.85 296.65 3.70 3.75 1.65 1.75 2.75 2.80 10.70 10.90 41.65 42.00 2.80 2.85 16.20 16.45 70.10 71.45 211.55 213.20 2.65 2.75 74.60 75.05 27.25 27.75 23.80 24.45 2.65 2.70 2.80 2.95 64.40 65.00 168.60 172.20 3.10 3.20 1.90 1.95 3.00 3.10 6.35 6.65 314.40 317.65 206.05 207.65 63.75 64.45 277.60 280.30 18.45 18.70 210.50 213.75 25.00 25.35 13.70 13.90 26.25 26.75 2.15 2.20 3.15 3.25 64.35 65.15 2.60 2.70
Pivot 2.95 68.80 50.15 24.20 23.90 84.10 15.80 10.50 367.10 114.40 10.70 3.70 8.05 1.95 26.85 3.00 2.40 38.60 59.95 212.60 13.80 4.50 41.05 149.25 121.95 37.45 144.25 285.15 3.65 1.60 2.65 10.55 41.35 2.70 16.00 68.55 209.30 2.60 73.95 26.20 23.20 2.60 2.65 63.80 166.30 3.05 1.85 2.80 6.20 311.50 204.65 62.65 274.80 18.10 208.25 24.60 13.50 25.85 2.10 3.10 63.65 2.55
8
Tuesday, February 15, 2011
PTA stands up against spam, fraud communications
Etisalat’s CY10 net amounts to Dh7.6bn
ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has approved technical guidelines that will be helpful to stop fraudulent transfer of money and credit balance of consumers as over 40 per cent consumer complaints pertain to misuse of service and fake prize scams. To counter the spam, unso- ISLAMABAD: Etisalat has the continuity of being pioneers licited, obnoxious and fraudu- announced its preliminary con- in launching the latest technololent communications, anti- solidated financial results for the gy to all of its customers across spam regulations issued by the year ending 2010. all subsidiaries. Today Etisalat is PTA are in force to protect the Etisalat's Group Net Revenues generating revenue from most of consumers from the misuse of for year ending 31 December, its international operations BARCELONA: People visit the 3GSM World Congress.-Reuters service. 2010 reached Dh31.9 billion, ahead of forecasts. Talking to APP, a PTA which is 2 per cent higher than E-payments "Etisalat's investment strategy spokesperson said that it was year 2009 net revenues of focuses on expansion of felt that a regulatory frame- Dh31.3 billion. Net assets for telecommunication services in work was required in order to 2010 also recorded a 5 per cent low penetration, emerging interestablish technical support sys- growth over 2009 from Dh40.4 national markets. This gives tem and formulate redressal billion to Dh42.6 billion. Etisalat huge opportunity for measures at the licensees' end Etisalat also announced a net growth and increased revenue, in order to protect the victims profit of Dh7.6 billion for the as substantiated by Etisalat of such activities. Group, compared to Dh8.8 bil- Group's growing number of subHe said a black list of BARCELONA: Paying for tablet computer users download Hays, partner at global manage- antecedents of those involved lion in 2009. Earnings per share scribers which has reached 135 reached Dh0.97 during 2010, million customers across 18 your morning coffee and news- millions of applications and ring ment consulting firm PRTM. compared to Dh1.12 in 2009. countries over a total area inhabpaper by swiping your mobile up transactions. "Mobile payments are Earnings per share for 2009 ited by more than two billion phone instead of fumbling for Eye-watering amounts of arguably the next major change were adjusted for bonus shares people," Omran continued. cash or debit card could be just money are at stake in this new in the mobile industry." issued in 2010. In 2010, Etisalat increased its around the corner. market -- it is estimated at $1.13 At the Mobile World Commenting on these results, investment in some African For telecoms firms like trillion (703.04 billion pounds) Congress, which opens today in Mohammad Omran, Chairman markets. During the year, the Vodafone and France Telecom, globally by IE Market Research. Barcelona, telecom operators of Etisalat, said: "Despite the corporation acquired new shares it's the innovation they hope One in every six phones will be will be talking up a technology global financial crisis and a in Atlantic Telecom which opermay finally enable them to steal equipped with the new technol- known as near-field communicompetitive UAE telecoms mar- ates in seven countries in West a march on Apple and Google ogy by 2014, according to cations (NFC), which allows ket, our 2010 financial results Africa, and acquired additional who dominate the mobile mar- Jupiter Research. consumers to buy items by tapoverall have been good. These shares in Zanzibar Telecom Ltd ket with devices, applications But to succeed, the telecoms ping their phone on a specialised satisfactory results reveal that (ZANTEL in Tanzania), and in and software. operators will also have to take reader at the cash register. Etisalat remains a profitable Sudan-based Canar The telecom companies have on credit card giants Visa and Such mobile payments exist company." "Etisalat realised Telecommunications Company suffered for years from the MasterCard, who are pushing already in Japan and Korea but "dumb-pipe" phenomenon the technology hard as a way to have so far been held back from in obnoxious activities would well ahead of time that growth Ltd. The total capital expendiwhereby operators spend bil- boost transactions and fees. mass-market adoption by a lack be maintained and habitual opportunities in the UAE tele- ture for acquiring these shares lions building the networks on "There is a game-changing of handsets and confusion criminals would be denied com market would start dimin- has reached Dh1bn. These marishing due to high saturation of kets are high-potential markets which data travels, only to opportunity here for the opera- around the business model. telecom facility in future. the UAE's mobile market. We for growth and subscriber numwatch Google and Apple pocket tors to effectively displace credAlready the competition is The spokesman said that anticipated the effect that it bers. the profits as smartphone and it cards and banks," said Dan cut-throat.-Reuters while dealing with unsolicited would have on current market Nasser bin Obood Al Falasi, communication a "Do Not conditions. Therefore, we devel- Acting CEO for Etisalat, said: Call" register was being estab- oped a long-term strategy that "In light of the slowdown in lished to register telemarketers would maintain the rate of subscriber growth numbers as a and consent was sought from growth, revenues and profit result of repercussions from the the consumers for receiving margins for our stakeholders - economic climate and high satutelemarketing communication. primarily the UAE federal gov- ration in the UAE market that For obnoxious communica- ernment who owns 60 per cent exceeded 200 per cent as per tion, technically feasible fea- of the corporation - by diversify- recent research from the tures (Call & SMS) barring ing our source of income and T e l e c o m m u n i c a t i o n s NEW DELHI: India's Reliance country's second-largest mobile estate company Unitech as facility would be made availmoving towards regional and Regulatory Authority (TRA), Group said police investigators firm Reliance Communications. allegedly having benefited. able for the consumers. international markets," Omran Etisalat has adopted a strategy had "examined" several of its The CBI's probe of the The auditor's report, meanIn order to chalk out modali- continued. that suits current climate condiofficials over alleged irregulari- group's officials comes after the while, has accused Reliance ties to control the menace of He noted that the growth in the tions by offering new and innoties in the awarding of 2008 national auditor said irregulari- Communications, through its spamming and unsolicited teleinternational group revenue, vative services with the aim of mobile phone licences. ties in mobile licence and spec- Reliance Telecom unit, of viomarketing, a detailed Standard excluding UAE, has reached 46 achieving a healthy growth rate, The statement marked the lat- trum allocation cost the excheq- lating licensing rules by holding est development in a widening uer up to $40 billion in lost rev- over 10 percent of Swan Operating Procedure (SOP) per cent compared to 2009, and while offering increased benefits probe into the government's enues. Telecom, which applied for a was introduced in September these markets continue to hold to customers and ensuring the 2010, the spokesman main- promise in coming years. latest technologies are available 2008 sale of second generation, The CBI is looking into com- 2G licence in 2007. or 2G, licences at knockdown panies which may have benefitThe report has also alleged tained.-Reuters Etisalat is committed to ensure to them." - APP prices which has become one of ed from suspected rigging of that Swan Telecom, which got the biggest corruption cases in licence bidding rules under then its licence in 2008, appeared to India's history. telecom minister A. Raja. be acting as a "front company" The Central Bureau of Raja was arrested with two for Reliance Telecom when it Investigation (CBI) has "exam- former aides earlier this month applied for the licence. The ined a few officials of Reliance in the scandal that has tarnished companies have denied wrongADA Group, and we are fully the reputation of the Congress doing. co-operating with the authori- government led by Premier The CBI's questioning of ties in this regard," a spokesman Manmohan Singh. Reliance officials comes as genuine and was sent to HELSINKI: The world's top said. for the group told AFP, declinThe police agency has not troubles mount for the group. The memo is a scathing employees last week. ing to elaborate. stated any of the Reliance ADA On Friday, it said it had iden- mobile phone maker Nokia is With this brutally honest Reliance ADA Group, con- Group firms benefited from the tified unnamed brokers whom it "standing on a burning plat- indictment of Nokia's "nontrolled by tycoon Anil Ambani alleged corruption. claimed spread "baseless" form" surrounded by a "blazing competitive" operating system appraisal of the company's who is listed sixth on the 2010 It has, however, named India's charges that India's top account- fire" of competition, new com- Symbian, a lack of accountabili- woes, Elop appeared to be setForbes list of India's billionaires Swan Telecom -- now known as ing body was looking into the pany head Stephen Elop said in ty and leadership, painfully slow ting the scene for a spectacular with $13.3 billion, includes the Etisalat DB Telecom -- and real group's finances. .-Agencies a dramatic call for radical product delivery, a lack of inter- shake-up, which he is expected nal collaboration and a general to unveil this week at a strategy change. and financial briefing in In an internal memo obtained "series of misses". Annual Mobile World Congress in Barcelona The Finnish company was London. by news wire AFP, Elop's memo "When we share the new stratpaints a picture of a desperate once the industry's top dog, with man who must make the drastic a 40 per cent share of the mobile egy on February 11, it will be a move of plunging into icy device market as recently as sec- huge effort to transform our ond quarter of 2008 but it has company," he said. waters in order to save himself. Ahead of the big day, there The company must now make been on the slide ever since, a similar radical choice, he falling to 31 per cent in fourth has been a flurry of rumours about what to expect, including quarter 2010. warned. Although Nokia refused to a report by German weekly "We too, are standing on a BARCELONA: The shotgun Apple and Google's Android others," said Magnus Jern, chief marriage of Nokia and have already taken the high executive of mobile software 'burning platform', and we must officially comment on internal WirtschaftsWoche that Elop decide how we are going to communications, a company plans to sack half of Nokia's Microsoft's smartphone plat- ground in the lucrative smart- house Golden Gekko. forms puts software developers phone battle by attracting The open-source Android change our behaviour," Elop source told AFP the memo was management.-Reuters at center stage at the annual hordes of developers who make software platform, unleashed on Mobile World Congress starting the small software applications, the market just two years ago by on Monday in Barcelona. or apps, that make smartphones Google, has already stormed to Last week, Nokia and come alive. the top of the smartphone platMicrosoft, the global leaders in Apple's iPhone was praised form popularity charts, overtakmobile phones and software, for its design when it launched ing Nokia's Symbian at the end announced a wide-ranging in 2007, but it was its App Store of last year. alliance which they hope will that transformed the industry by Device makers such as give them a chance of building allowing users to personalise Samsung Electronics, HTC and an iPhone killer -- but it is still iPhones with easy-to-install Sony Ericsson have embraced it regarded as only a slim chance. games, shopping aids and busi- as it offers features and func"People had expected Nokia ness tools. tions they could never hope to to fight back but the alliance Total sales from all app stores develop on their own as quickwon't be able to help Nokia are expected to triple this year ly. rebound strongly. It will rather to $15 billion, research firm On Sunday, Sony Ericsson further consolidate the current Gartner said last month. and Samsung unveiled new trend of Android vendors gain"Most developers are doing models running on Android, ing more market share," said Android and Apple; they don't with Sony Ericsson in a longPark Young-joo, an analyst at want to do anything else, even awaited move bringing Sony's LONDON: Nokia Chief Executive Stephen Elop (L) and Microsoft CEO Steve Woori Investment & Securities if they are paid for it. It's going PlayStation brand to the mobile Ballmer are pictured during the Nokia Strategy and Financial Briefing in Seoul. to be very, very difficult for the market.-Reuters at the Intercontinental Hotel in central London.-Reuters
Cellcos, banks, techs in ‘war of the wires’
India top telco officials interrogated in 2G scam
Nokia’s pants on fire, says CEO
Hardwarers’ dialing softwarers’ numbers
Lady's Package
Ufone calls forth huge smiles on ladies faces KARACHI: Ufone, one of the leading telecom companies in the country has stepped forward once again to give its customers a reason to smile. Since inception Ufone has focused on catering to the masses and ensuring that every Pakistani has easy access to cellular services. The launch of Ufone's "Lady's Package" is yet another feather in the company's cap. All over Pakistan, women now have a package which speaks their language, a package which has been specially tailored keeping in mind the needs of the present day woman. For just Rs2 per hour, women can now make endless long calls between 10:00 am and 5:00 pm to their loved ones on Ufone and PTCL networks without fearing about the bill, alongside they can make calls through the rest of the day to any number any network in Pakistan for just Rs1.25 per minute. In addition a beauty tip or recipe will be shared every week with every Lady's Package subscriber free of cost. Most importantly with Ufone women have the control of blocking unwanted calls via Call Block and keep their identity hidden via Smart Code which can be used to recharge your Lady's Package without sharing your phone number. Akbar Khan Chief Marketing Officer Ufone said, "At Ufone we take pride in ensuring that our customers get the value for money that they deserve. Today with the launch of Lady's Package we continue to deliver on our promise, to go beyond customer expectations, by giving our female subscribers what they want at a price that they can't refuse. This package is just the beginning; women across the country should look forward to many more exciting discounts and surprises to come their way on a regular basis".NNI
Samsung shines bigger Galaxy BARCELONA: South Korean consumer electronics giant Samsung has presented a new version of its tablet computer with a larger screen of 10.1 inches, four months after launching its first Galaxy Tab. The Galaxy Tab 10.1, which uses the latest version of Google's Android operating system, weighs 599 grams (1 pound, five ounces) and is just 10.9 millimetres (0.43 inches) thick. Samsung's first tablet, the Galaxy Tab with a seven-inch screen, was launched in October. The South Korean company also unveiled its latest smartphone on the eve of the opening of the mobile phone industry's annual conference in Barcelona. It presented the Galaxy S II as "the world's slimmest smartphone" at just 8.49 millimetres thick. The head of Samsung's mobile division, JK Shin, said they focused on "screen, speed and content" while developing the phone. The Galaxy S II is equipped with voice recognition that allows users to dictate text messages instead of tapping on the screen. It also includes NFC or Near Field Communication technology which allows for make secured transactions by swiping their phone near a receptor, such payments for riding on public transport.-Agencies
9
Tuesday, February 15, 2011
Brent oil rallies near $103; eyes on ME, China
European vegetable oil prices
Mideast tension remains concern after Mubarak ouster
ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Apr11 1026.00, May11/Jul11 1036.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1040.00+0.00, Aug11/Oct11 1010.00-5.00, Nov11/Jan12 1020.00+0.00, Feb12/Apr12 1025.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1470.00-15.00, Jul11/Sep11 1485.00-10.00, Oct11/Dec11 1430.00+5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1554.40-13.10. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Feb11 1320.00-2.50, Mar11 1322.50+2.50, Apr11/Jun11 1312.50-2.50, Jul11/Sep11 1285.00-2.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1392.502.50, Mar11 1382.50-5.00, Apr11/Jun11 1355.00+0.00. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1337.502.50, Mar11 1327.50-5.00, Apr11/Jun11 1300.00+0.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1345.00-2.50, Mar11 1335.005.00, Apr11/Jun11 1305.002.50, Jul11/Sep11 1260.007.50. PALM STEARIN: Dlrs tonne fob Malaysia Feb11 1290.00, Mar11 1290.00+0.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2320.00+0.00, Mar11/Apr11 2290.00-10.00, Apr11/May11 2280.00+0.00, May11/Jun11 2270.00. Reuters
LONDON: Brent crude oil rose towards $103 a barrel on Monday, supported by concern about unrest in the Middle East after last week's ouster of President Hosni Mubarak and rising crude imports in world No. 2 oil consumer China. Protests in Yemen, Iran and Algeria highlighted the potential for unrest to cause oil supply disruptions. The Middle East and North Africa are together the source of more than a third of the world's oil. "We're staying up because of the continued risk of further unrest in the Middle East," said Christopher Bellew, a broker at Bache Commodities in London, adding the Chinese data was also supportive. Brent crude, the benchmark in Europe, Africa and the Middle East, for April delivery was up $1.86 to $102.80 at 1453 GMT. The events in Egypt helped push Brent above $100 at the end of last month for the first time since 2008. US crude, also known as West Texas Intermediate or WTI, for March was up 1 cent at $85.59. It fell as low as $85.10
on Friday, the lowest intraday price in 10 weeks. The premium of Brent to US crude reached a record $16.24 on Friday, the last day of trading for the March Brent contract. The spread between the April contracts was around $12 on Monday. US crude has been weighed down by near-record inventories
at the Cushing, Oklahoma delivery point, while a steady fall in North Sea supplies -- the physical basis for the Brent contract has supported the European marker. "WTI was anchored by record crude supplies in Cushing, while tightness in the North Sea market provided support to Brent prices," Mark Pervan, head of commodity research at ANZ Bank, said in a report. China's trade surplus fell to its lowest in nine months in January. Crude oil imports rose 27 per cent from a year ago to
the fourth highest on record. "Support is coming today from China's import data," said analysts at Commerzbank in a report. "There is still a risk that the wave of protests could spread to other countries of the region, so the risk premium on oil prices should remain, at least in part," they said. And in Iran, security forces fired tear gas to scatter thousands of people marching on a Tehran square in a banned rally on M o n d a y inspired by the uprisings in Egypt and Tunisia, a witness said. Key data for investors this week include Chinese January inflation figures for release on Tuesday. Traders said consumer prices may have risen 4.9 per cent in the year to January, below the consensus forecast of 5.3 per cent. European shares rose to a 29month high as the talk of slowerthan-expected Chinese inflation data and the strong China trade figures boosted sentiment. The euro fell to a three-week low versus the dollar on Monday. -Reuters
Palm oil dips as traders eye export data JAKARTA: Malaysian palm oil futures dropped as much as 1 per cent on Monday, with trading range-bound as investors booked profits ahead of eagerly anticipated export data due later this week. The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 0.6 per cent to 3,933 Malaysian ringgit ($1,288) a tonne. Overall, traded volume stood at 11,265 lots of 25 tonnes each, compared with a total of 11,568 lots on Friday. "Palm oil is down today," said one trader. "It is still range-bound trading between 3,900 to 3950 (ringgit). Volumes have been light."
"Range-bound trading is expected, looking ahead of tomorrow's export figure coming out," he added. Cargo surveyor Intertek Testing Services will issue Feb. 1-15 palm oil exports from Malaysia on Tuesday. Another surveyor, Societe Generale de Surveillance, will publish the same data on Wednesday. "In terms of fundamentals, it looks like the Malaysian palm oil board continues to indicate that production has been lagging and exports have been accelerating," said Alex Bos, a commodity analyst at Macquarie Bank. "In that environment, you would expect further price increases.
"That excess rainfall through the last half of 2010 and early 2011, will have some impact on near-term, but further out, that good moisture level should be beneficial for palm yields." Reaction to the export data could be delayed however, as Malaysian financial markets will be closed on Tuesday for a Muslim holiday. ICDX's April CPO futures contract was at 11,495 rupiah ($1.287) per kg, compared to 11,450 rupiah per kg when it opened. Market volume was 1,385 lots of 10 tonnes each. The most-active September 2011 soyoil on the Dalian Commodity Exchange was at 10,886 yuan versus an open at 10,880 yuan. -Reuters
Copper makes record on healthy China demand LONDON: Copper scaled new all-time peaks and tin hit a record on Monday, as supply tightness bolstered both metals, while a surprise jump in copper imports from top metals consumer China brightened sentiment. Copper for three-month delivery on the London Metal Exchange closed at $10,160 from $9,961 a tonne on Friday. The metal used in power and construction hit a record high of $10,168.50 earlier. Tin hit a record high of $32,460 a tonne, before finishing up at $32,450 from $31,775, as supply constraints in Indonesia supported prices. Used extensively in the power and construction sectors, copper has surged more than 60 per cent since last June, when financial and commodity markets tumbled on fears of sovereign defaults in euro-zone countries such as Greece. But robust demand from emerging nations and recovering demand from the West, against a backdrop of limited supply is seen as increasingly bullish for prices. "The import data was stronger than the market had expected. Generally the market had expected a continua-
tion of the trend ... for weaker exports," said analyst Gayle Berry of Barclays Capital regarding the Chinese data. "But the imports were up month on month and year on
Shanghai copper rises Shanghai metal rose 1 per cent on Monday after a surprise jump in Chinese copper imports and hopes of continued restocking by the world's top consumer. Shanghai's most active copper contract rose 750 yuan to 76,270 yuan. year, and that has certainly given us a renewed boost to market sentiment." Preliminary Chinese trade data showed copper imports jumped a surprise 5.7 per cent to 364,420 tonnes in January. "The market's taken these numbers in a very bullish way," said Robin Bhar, an analyst at Credit Agricole. "China's appetite is insatiable." Investors will focus on Chinese inflation data due out
on Tuesday as the market remains concerned about the degree to which demand could be affected by the country's efforts to rein in inflation, following last week's rate hike. Stocks of copper in LME warehouses on Friday rose 5,050 tonnes to a six-month high of 401,775 tonnes, continuing a recent climb that has kept optimism about demand in check. Aluminium ended at $2,514 a tonne from $2,496. Stocks of aluminium in LME warehouses dipped 4,725 tonnes to 4,594,725 tonnes, within reach of a record high of 4,640,750 tonnes hit in January 2010 as market sources said expiring finance deals were boosting stock levels. Elsewhere, zinc ended at $2,541 a tonne from $2,465 a tonne, battery material lead was at $2,640 from $2,560 a tonne. Nickel closed at $28,895, its highest in nearly three years as LME stocks decline, reflecting a seasonal uptick in stainless steel demand. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 11 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1250
January (3rd Wednesday)
1310
1255
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for February 11 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2340 2350 2310 2320 2265 2275 2265 2275
2490 2490.5 2509.5 2510 2573 2578 2617 2622
9920 9920.5 9905 9905.5 9700 9710 9290 9300
2524 2525 2508 2509 2457 2462 2412 2417
27830 27835 27850 27875 26755 26855 25475 25575
TIN
ZINC NASAAC
31455 2414.5 31460 2415 31600 2434 31625 2436 31170 2455 31220 2460 2435 2440
2480 2490 2495 2500 2540 2550 2595 2605
Indian spot sugar rises MUMBAI: Indian spot sugar prices rose on Monday as demand improved at lower levels, though higher supplies weighed on prices, dealers said. "There was a slight improvement in demand due to ongoing wedding season, but higher nonlevy quota for February was capping the gains," said a senior official at Bombay Sugar Merchants Association (BSMA). India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety rose by 1 per cent to 2,671 rupees ($58.7) per 100 kg. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended down 0.28 per cent at 2,807 rupees per 100 kg. India is likely to produce 25 million tonnes of sugar in the new season that began in Oct. 1, a producers' body said on Feb. 8, slightly lowering its previous forecast as unseasonal rains trimmed cane yields in a key state. -Reuters
KABUL: A young Afghan vendor stands next to her cart as she waits for customers at a market in Kabul. -Reuters
Gold above $1,360; inflation in focus LONDON: Gold rose above $1,360 an ounce on Monday as the dollar's retreat from highs versus the euro took some pressure off prices, with a second consecutive weekly price rise underpinning investors' confidence in the metal. Comments from European Central Bank Governing Council member Ewald Nowotny that the ECB was not turning soft on inflation also gave prices a fillip,
remain supported by a range of factors," said Anne-Laure Tremblay, an analyst at BNP Paribas. "These include inflationary pressures -- gold is perceived as an inflation hedge -- sovereign risk and concerns about the value of the US dollar." Gold buying in India, the world's biggest consumer of the metal, was lacklustre for a third day on Monday as dealers
as it suggests that price pressures remain in focus. Inflation can benefit gold. Spot gold was bid at $1,363.15 an ounce at 1608 GMT, against $1,356.12 late in New York on Friday. US gold futures for April delivery rose $3.10 an ounce to $1,363.50. Prices remain caught between support near $1,320 an ounce and resistance towards $1,370 as investors wait to see whether the appetite for risk that boosted higher yielding assets at gold's expense at the start of the year will be sustained. "While the market's positive outlook on gold has moderated since the beginning of 2011, we expect the metal's price to
awaited further price falls. Demand for gold-backed exchange-traded funds also remained soft, with holdings of the world's largest, New York's SPDR Gold Trust, falling by 55 tonnes so far this year. Elsewhere silver rose to its highest in nearly six weeks at $30.71 an ounce. The tightest physical silver supplies in four years tipped the US silver futures market into backwardation last week, making nearterm prices more expensive than more distant months. Silver was later bid at $30.56 an ounce against $29.85. Platinum was at $1,824.92 an ounce against $1,802.50, while palladium was at $829.72 versus $811. -Reuters
Cocoa hits 1-yr high; sugar sinks LONDON: Cocoa futures rose to a one-year high on Monday on concerns that a month-long export ban in top grower Ivory Coast may be extended, while coffee tracked a wider commodities rally to reach its highest in nearly 14 years. Raw sugar tumbled, retreating from 30-year peaks, as high prices weighed on physical demand. May ICE cocoa futures jumped to $3,444 a tonne in early trading, their highest since Jan. 2010, later easing to trade up $46 or 1.4 per cent to $3,417 a tonne at 1605 GMT. London's May cocoa contract rose 21 pounds or 1 per cent to 2,220 pounds per tonne, below its six-month peak of 2,269 pounds a tonne, weighed slightly by a strong pound. Arabica coffee climbed to its highest in nearly 14 years, the sixth new peak this year, as a shortage of high-quality beans continued to keep markets on tenterhooks. New York's benchmark May arabicas were up 5.55 cents or 2.2 per cent at $2.6060 per lb at 1605 GMT after touching $2.6070 a lb, their highest since May 1997. Liffe May robusta coffee was up $22 or 1 per cent at $2,277 a tonne, below its 2-1/4-year high of $2,287. The benchmark ICE March raw sugar contract slumped to 29.95 cents a lb, its lowest since Jan. 7, before gaining to trade down 0.3 cent or 1 per cent at 31.00 cents a lb at 1607 GMT. London's May white sugar fell $13.40 or 1.8 per cent to $742.80 per tonne after dropping to $726.60, its lowest in over two months. -Reuters
Tokyo rubber at all-time peak TOKYO: Benchmark Tokyo rubber futures hit a record high on Monday as concerns over tight supply continued to lend support, while a weaker yen also boosted sentiment. The key Tokyo Commodity Exchange rubber contract for July delivery rose as high as 520 yen, the highest ever for any benchmark, before settling at 518.7 yen per kg, up 4.8 yen, or 0.9 per cent, from Thursday's settlement of 513.9 yen. Japanese financial markets
were closed on Friday for a national holiday. Traders said speculative buying due to concerns about tight supply is expected to drive up prices. The price of benchmark Thai RSS3 rose to a new record again on Monday. The most active Shanghai rubber futures for May delivery closed at 42,860 yuan ($6,503) per tonne, up 175 yuan from Friday's close of 42,685 yuan. They marked a record high of 43,500 yuan last week. Volume stood at 444,090 lots.
US oil prices rebounded on Monday to near $86 a barrel, after sinking to a 10-week low in the previous session, as tension in the Middle East region dissipated following the resignation of Egyptian President Hosni Mubarak. Japan's economy shrank slightly in the final quarter of last year, hurt by an expiry of government incentives for car purchases, although analysts expect a recovery this year on firm exports to fast-growing Asia. -Reuters
National Commodity Exchange Ltd Trading Summary Date
Commodity
14-Feb-2011 CRUDE100 14-Feb-2011 CRUDE100 14-Feb-2011 CRUDE100 14-Feb-2011 SILVER - SL500 14-Feb-2011 SILVER - SL500 14-Feb-2011 GOLD 01oz 14-Feb-2011 GOLD 01oz 14-Feb-2011 GOLD 01oz 14-Feb-2011 GOLD 100oz 14-Feb-2011 GOLD 100oz 14-Feb-2011 GOLD 100oz 14-Feb-2011 GOLD 14-Feb-2011 GOLD 14-Feb-2011 GOLD 14-Feb-2011 KILOGOLD 14-Feb-2011 KILOGOLD 14-Feb-2011 TOLAGOLD50 14-Feb-2011 TOLAGOLD100 14-Feb-2011 MINIGOLD 14-Feb-2011 MINIGOLD 14-Feb-2011 MINIGOLD 14-Feb-2011 MINIGOLD 14-Feb-2011 MINIGOLD 14-Feb-2011 TOLAGOLD 14-Feb-2011 TOLAGOLD 14-Feb-2011 TOLAGOLD 14-Feb-2011 TOLAGOLD 14-Feb-2011 TOLAGOLD 14-Feb-2011 IRRI6W 14-Feb-2011 RICEIRRI - 6 14-Feb-2011 RBD PALMOLEIN 14-Feb-2011 KIBOR3M 14-Feb-2011 KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 17FE11 FE11 FE11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
87.23 90.61 89.00 30.09 30.08 1362.20 1363.00 1363.20 1362.50 1366.00 1363.50 37414.00 37423.00 37525.00 37387.00 37395.00 43607.00 43607.00 38439.00 38481.00 38496.00 38510.00 38524.00 44173.00 44718.00 44238.00 44254.00 45075.00 3207.00 3205.00 5568.00 86.21 85.57
87.23 90.61 93.40 30.25 30.10 1368.30 1368.50 1369.60 1362.50 1368.50 1363.50 37414.00 37423.00 37525.00 37387.00 37395.00 43607.00 43607.00 38466.00 38481.00 38496.00 38510.00 38524.00 44202.00 44745.00 44238.00 44254.00 45075.00 3207.00 3205.00 5568.00 86.21 85.59
85.10 88.88 89.00 29.71 30.08 1354.40 1354.40 1355.10 1357.80 1355.00 1358.20 37385.00 37394.00 37200.00 37358.00 37366.00 43573.00 43573.00 38439.00 38413.00 38426.00 38440.00 38453.00 44173.00 44140.00 44156.00 44171.00 44187.00 3203.00 3201.00 5532.00 86.20 85.57
85.54 89.28 92.64 30.09 30.10 1357.80 1358.20 1358.90 1357.80 1358.20 1358.20 37385.00 37394.00 37410.00 37358.00 37366.00 43573.00 43573.00 38466.00 38413.00 38426.00 38440.00 38453.00 44202.00 44140.00 44156.00 44171.00 44187.00 3203.00 3201.00 5532.00 86.20 85.59
Traded Volume in lots 582 77 1 229 1,133 1,830 1,980 105 4 4 6 -
Previous Settlement Price 85.71 89.39 92.84 29.89 29.90 1357.90 1358.20 1358.90 1357.90 1358.20 1358.90 37262.00 37271.00 37287.00 37235.00 37244.00 43430.00 43430.00 38343.00 38287.00 38301.00 38315.00 38329.00 44060.00 43995.00 44012.00 44028.00 44044.00 3207.00 3205.00 5568.00 86.21 85.57
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 85.54 220 89.28 56 92.64 3 30.09 54 30.10 1 1357.80 1,376 1358.20 1,762 1358.90 698 1357.80 1358.20 3 1358.90 37385.00 14 37394.00 1 37410.00 80 37358.00 1 37366.00 43573.00 43573.00 38466.00 38413.00 38426.00 38440.00 38453.00 44202.00 44140.00 11 44156.00 44171.00 44187.00 6 3203.00 3201.00 5532.00 86.20 85.59 -
New Zealand's Martin Guptill and Brendon McCullum (R) attend a news conference in the southern Indian city of Chennai
10
Tuesday, February 15, 2011
We've learned from 2007, Strauss says DHAKA: England captain Andrew Strauss Monday said his team has learnt from their dismal performance in the 2007 World Cup in the Caribbean. Four years's back Michael Vaughan's team failed to beat any of the world's top eight sides, barring the West Indies in a dead rubber. Strauss said this time his team is ready to bag their maiden 50over World Cup and add to the World Twenty20 title they won under Paul Collingwood last year. They will be playing two warm-up games here with Canada and Pakistan later this week. Strauss admitted that the 1-6 ODI series loss in Australia will not have any bearing on England's World Cup campaign. "We played badly in the recently concluded ODI series. But we've got a solid squad, a very settled side and we are confident of doing well in this tournament. We're excited about it and I think the guys took a lot of confidence from the fact they won the World Twenty20 - they know they can do it on the big stage," said Strauss. -Online
Kapil lashes at BCCI for Eden fiasco KOLKATA: Captain of Indian World Cup winning team Kapil Dev on Sunday criticised the BCCI for Eden Gardens not being able to host World Cup matches involving India. "It is also responsibility of BCCI to see that CAB completes the renovation work of the stadium in time," Dev said while participating in a cricket chat show here. "I am not supporting CAB president Jagmohan Dalmiya nor BCCI. Everybody should have come together to host a match at Eden," he said. Stating that adding "personal agenda" should not have come in arranging such matches, he asked: "Why for Mr Jagmohan Dalmiya, people of West Bengal will be deprived to see India in action at Eden Gardens in this World Cup?"Reuters
Pakistan top make hopeless start in 6thRed Asian Snooker KARACHI: Pakistan's top two cueists Muhammad Sajjad and Imran Shehzad made a disappointing start in the inaugural 6-Red Asian Snooker Championship in Thailand by losing their opening league matches, according to a message received on Monday. The 26-year-old Sajjad from Sargodha, went down fighting against Nadir Sultani of Afghanistan 5-4 in fully extended frame contest. However, Pakistan number one, Imran Shahzad went down 1-5 against Yuttapop Pakpoj of Thailand 5-1. Muhammad Sajjad will be playing his next match against Au Chi Wai of Hong Kong and Imran Shahzad will be up against Yusuke Tanaka of Japan. Over 50 cuemen represpenting 25-nations from across the continent are taking part in the week-long event.-APP
Soccer ace Ronaldo retires
ISLAMABAD: A student jumps in the air during the high jump event in Federal Board Inter Collegiate Girls Athletics Meet Session at Jinnah Sports Complex.-Online
Afridi hints at an extra spinner DHAKA: Pakistan captain Shahid Afridi Monday hinted at playing an 'extra spinner' in the team during the World Cup which gets underway Feb 19. The experienced all-rounder said Pakistan have several spin options and they are prepared to unleash them on turning tracks of the sub-continent. "The playing conditions here would be quite different to what we encountered during our tour of New Zealand," Afridi said. Pakistan will play two warmup matches here before beginning its campaign in Pool A against Kenya in Hambantota, Sri Lanka, Feb 23. "Here we can explore the idea of playing an extra specialist spinner," he added. Pakistan has two specialist spinners - Saeed Ajmal and Abdur Rehman - in its 15-man squad. Afridi and all-rounder Mohammad Hafeez also add variety to its spin attack. Afridi has also played down fears that Pakistan will be going into the World Cup with a depleted pace attack saying
that his fast bowlers have the guts to shine in the mega event. "I don't think that there is any cause for concern," Afridi said. "Our team is shaping up well and the boys are all highly motivated to give their best in the World Cup," he stressed. Pakistan will go into the World Cup after a moraleboosting ODI series triumph in New Zealand earlier this month. Despite the good results, Pakistan are not counted among the top five title contenders because of their depleted pace battery. Pakistan's two most lethal pacers Mohammad Aamer and Mohammad Asif have been banned by the International Cricket Council (ICC) on charges of spot-fixing. Left-arm pacer Sohail Tanvir, who was a surprise inclusion in the squad, was also dropped at the last minute due to fitness issues and has been replaced by rookie pacer Junaid Khan. An ageing Shoaib Akhtar will be leading the pace attack that includes Umar Gul, Wahab
Riaz and Abdul Razzaq. Akhtar is in the twilight of his international career while Gul has had more than his fair share of fitness problems in recent years. But Afridi is confident of his fast bowlers. "Let me tell you that Shoaib Akhtar is working really, really hard because he wants to be at his best in the World Cup. In terms of fitness, Shoaib may be a bit down but he is totally committed and is improving day by day. I won't be surprised if he is back at his brilliant best at the World Cup," said Afridi. He also praised Umar Gul, saying that the lanky pacer will be one of his key men in the World Cup. "Gul is a valuable player. He is a match winner," he said. Afridi is confident that each of his players can be a match winner on his day. "I have complete confidence in my boys because each and every one of them is a matchwinner. They need to click and I'm sure they will do that in the World Cup."-Online
Best fielders seen winning WC 2011 KOLKATA: Former cricket legends like Steve Waugh and Vivian Richards say that the team with the best fielding side will have the highest chances of winning the World Cup that begins Feb 19. "Catching, run-outs will play important roles. Whichever side winning the World Cup will have the best fielding. The
best fielding side has the most chances of winning," said former Australian skipper Steve Waugh while addressing an event called "Power Play" here Sunday. The event was also attended by former cricket legends like Vivian Richards, Kapil Dev and Sourav Ganguly. "I think India has improved. I
feel people like Gary Kirsten should be given credit for that. They have changed the whole psyche. Today the guys are more committed on the field. I also feel that the good fielding unit will win this world cup," said Vivian Richards when asked to comment on the fielding abilities of the current Indian side.-Online
Maqbool, Kaneria trouble Balochistan LAHORE: Balochistan were bundled out for a paltry 173 on the opening day of their fourday match against Sindh as the Pentangular Cup got underway yesterday. Off-spinner Atif Maqbool and leg-break bowler Danish Kaneria destroyed the Balochistan batting line-up with a magical performance sharing the 10 wickets between them before Sindh managed one without loss in reply. Maqbool finished with a career-best six for 69 and took over after Kaneria had sent back the openers at the LCCA Ground in Lahore. It seemed as if Balochistan could not read the spinners at all as none of the batsmen managing more than the 25 scored by Naved Yasin who remained not out. Balochistan captain Abdur Rauf offered little support managing 22. Kaneria, ignored for the national team, has done well in recent domestic tournaments and continued his form ending with four for 49. The duo, who bowled more than 30 overs between them, owed their success to wicket-keeper Sarfraz Ahmed as well who ended with four dismissals. Khyber-Pakhtunkhwa (K-P) and Federal Areas could only play 38 overs on the opening day of their match at the Gaddafi Stadium, Lahore. Nasrullah Khan shone on the day as the bowler took three for 20 to peg back K-P at 82 for four. The bowler broke through early, dismissing the opener Adnan Raees for one before Yasir Hameed tried to consolidate with Mohammad Fayyaz.APP
SAO PAULO: Three-time FIFA World Player of the Year Ronaldo, whose goalscoring genius led Brazil to the 2002 World Cup title, confirmed his retirement on Monday at the age of 34. The tearful Corinthians striker announced his decision at a press conference in Sao Paulo. "I'm stopping my career as a professional footballer," he said, his voice breaking. "It's been a beautiful, emotional, marvellous career. "These last two years, I've had a long series of injuries, from one side to the other, one leg to the other, one muscle to the other. The pain pushed me to think about the end of my career." Ronaldo also revealed that he
suffered from a thyroid problem that had made it difficult to control his weight. "Four years ago, in Milan, I discovered that I suffered from an under-active thyroid that slowed down my metabolism and that to control it, I had to take hormones that weren't authorised in football as they were considered a form of doping," he said. "Lots of people must regret having made jokes about my weight. But I feel no anger towards anyone." Having earlier indicated that he hoped to play on until the end of the year, injuries and Corinthians' early elimination from the Copa Libertadores prompted him to bring forward his retirement.-Reuters
Spotfixers lose NBP contract KARACHI: The three Pakistan cricketers banned for a minimum five years for corruption have been sacked by the National Bank of Pakistan, one of the leading teams in domestic cricket. Salman Butt, Mohammad Asif and Mohammad Amir have not had their contracts renewed after an International
Cricket Council anti-corruption tribunal found them guilty of spot-fixing in the fourth test against England last year. "We waited until the ICC tribunal gave its decision and then released them from our employment," former test player and senior National Bank official Iqbal Qasim told Reuters.-Reuters
Have put English beating behind: Aus DHAKA: England's thrashing at the hands of Australia in a recent one-day series will not affect morale for their World Cup assault, all-rounder Paul Collingwood said on Monday. England won the 2010 World Twenty20 and the Ashes series in Australia, but then slumped to a 6-1 defeat in the following one-day series. "We are disappointed, but hopefully it will not be a factor in our chances to win this World Cup," Collingwood told reporters in Dhaka. "It's a different set of conditions altogether. "The guys have a lot of confidence that they have played some good cricket in the one-
day format in the past two years. So we will focus on that rather than on the last two months in Australia." England have not won the World Cup in their nine previous attempts, but Collingwood said the current side had the self-belief to break that drought. "We have got a very skilful side," he said. "We seem to adapt to the conditions very well. We have played some really tough series and went on to win in the West Indies, South Africa and obviously we beat Australia (in the Ashes). "We believe we are good enough to go and win the World Cup."-APP
‘WC glory way to fans’ hearts’ DHAKA: Pakistan must clinch the World Cup if they are to win back their fans, said fastbowler Shoaib Akhtar as his team tries to emerge from the damaging spot-fixing scandal. Pakistan have endured a troubled build-up to the tournament after former captain Salman Butt and bowlers Mohammad Amir and Mohammad Asif were banned on charges of corruption during the Lord’s Test against England last year. “Obviously we are very hurt inside by whatever has happened to us,” Akhtar, 35, told reporters in Dhaka. “Pakistan need to win this World Cup at any cost. It will bring the charm back for people in Pakistan.” The bowler said his team had enough bowling resources at their disposal despite the
absence of the new-ball pair Amir and Asif. “We are unfortunate that they are not there,” said Akhtar. “But what can we do now? I think whatever pace attack we have is good enough to win matches. A veteran of 160 One-Day Internationals (ODI), Akhtar said he was confident of rattling up good pace as he used to when at his prime. “I still bowl 150 kph (93 mph). Obviously when you are 26 and 36, it’s a bit different. I will try to do as well as I can with whatever ability I have. I am going to push my limits and give it all to the team.” Looking forward to duel with Tendulkar. The 35-yearold, who missed the last World Cup in the wake of a doping ban and fitness problems, also said he was looking forward to a likely duel
with India’s Sachin Tendulkar. India and Pakistan have been placed in different groups for the tournament, beginning in Dhaka on February 19. Coach wants Murali fresh for the Cup Sri Lankan coach Trevor Bayliss stressed the need for veteran off-spinner Muttiah Muralitharan to be fresh for Sri Lanka’s World Cup bid. The record-holding wickettaker in both Test and one-day cricket was rested for Sri Lanka’s opening warm-up match against the Netherlands on Saturday, which the hosts won by a comfortable 156 runs. “Murali is getting towards the end of his career and we want to make sure that he is mentally and physically fresh,” said Bayliss of the
spinner who has taken 800 Test and 519 one-day wickets. Senior batsman Mahela Jayawardene was also rested and Bayliss felt happy at the strength of Sri Lanka’s emerging talent as the side looks to a future without the talismanic Murali. Shoaib Akhtar “We are very unfortunate that the banned trio [Salman, Amir and Asif] is not here. But what can we do now? I think whatever bowling attack we have is good enough to win matches for us.” Sachin Tendulkar “No Indian can ever forget that [the 1983 triumph] and, like any other player, I too have dreamt of winning the World Cup for the country. By God’s grace, we will achieve what we want to achieve.”Agencies
DUBAI: Russia’s Maria Kirilenko in action during her first round defeat to Chanelle Scheepers of South Africa during day one of WTA Dubai Duty Free Tennis Championships at Dubai Tennis Stadium.-Reuters
China trade surplus shrinks, supports govt G20 case BEIJING: China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation. The trade surplus shrank to $6.5 billion from $13.1 billion in December, well short of forecasts for a $10.7 billion gap. Global stocks and commodity prices climbed higher, with the surprisingly strong imports highlighting China's massive appetite for raw materials and its solid export growth hinting at solidifying recoveries in the US and European economies. In the past, a weaker surplus would have caused concern for the Chinese government, but more recently it has been trying to shift the economy towards greater reliance on consumption and less on exports, in part to address critics who say that its success has come at the expense of other countries. It was the third consecutive month of a declining trade surplus, and though not enough to mark a definitive change, that streak provides a symbolic boost to China before the G20 meeting this week of finance ministers from the world's biggest developed and developing economies. Analysts warned, however,
that its surplus could rebound later this year. "There tends to be a seasonal pattern and there is generally a decline in the trade surplus at the beginning of the year," said Jian Chang, an economist with Barclays Capital in Hong Kong. "Exports tend to be weak in the first quarter, while there is no such pattern in imports." The G20 meeting in Paris on Feb 18-19 will try to hash out a gameplan for tackling the global economic imbalances that exacerbated and, some say, helped trigger the financial crisis in 2008, with China's yawning trade surplus seen as one of the chief problems. GLOBAL STRENGTH China's imports rose 51 per cent in January from a year earlier, blowing past market forecasts for a 28 per cent rise. Exports rose 37.7 per cent in January, topping expectations for a 22.4 per cent rise, the customs administration said. Iron ore prices edged up further to fresh highs after the data, which showed that China was building steel product stockpiles in anticipation of more demand. Asian stocks rallied, snapping five straight sessions of losses. Yu Song and Helen Qiao, economists at Goldman Sachs, said that the import and export growth reflected well on both the Chinese and global economy.
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"The strong exports growth momentum is supported by improvements in economic conditions in China's major trading partners, and strong imports growth momentum is supported by strong domestic demand growth," they wrote in a note. "Besides, the rise in imported commodity prices likely contributed to strong imports data as well." Copper and iron ore prices ran near record highs for much of January and oil was also costly, pushing up China's import bill. Commodity-exporting countries were the clear beneficiaries. Imports from South Africa were up 212.5 per cent year on year, while shipments from Canada and Brazil were up 146.7 per cent and 95.4 per cent, respectively. But economists also cautioned against reading too much into the January data, because trade performance was probably affected by the Chinese New Year. It fell earlier in 2011 than in 2010, leading firms to rush to make shipments and order goods in the final weeks of January before the holiday. "The bigger-than-expected numbers may have been distorted by seasonal factors, so growth may be a bit slower in coming months," said Wang Hu, an analyst at Guotai Junan Securities in Shanghai.Reuters
Eurozone Dec output slips on weather; outlook solid BRUSSELS: Industrial output slipped in the euro zone in December as a cold snap crimped activity, data showed, though economists said the outlook was promising amid signs of recovery across much of the region's weaker periphery. Production in the 16 countries that were then using the euro fell 0.1 per cent from November, the European Union's statistics office Eurostat said on Monday. Analysts surveyed by Reuters had forecast it would be unchanged. Growth in Europe's dominant economy Germany, hit by brutal weather in the run-up to Christmas, was zero, while production in both the euro zone's No.2 and 3 economies, France and Italy, expanded 0.3 per cent. "It is evident that industrial production in a number of euro zone countries was hit in December by severe weather," said Howard Archer, IHS Global Insight's chief European economist. Solid growth in the fourth quarter compared with the third, aided by three successive months of expansion in capital goods production, offered encouragement over what is one of the key elements of gross domestic product. "The underlying strength of euro zone industrial production was highlighted by the fact that output still rose by 1.6 per cent quarter-on-quarter in the fourth quarter," Archer said.-Reuters
Obama budget attacks US deficit, sets up fight WASHINGTON: President Barack Obama proposed a budget on Monday that would cut the US deficit by $1.1 trillion over the next 10 years, but Republicans said it did not curb spending deeply enough. Conservatives accuse Obama, a Democrat, of being a tax-and-spend liberal, and they aim to make the 2012 presidential election a referendum on his fiscal track record. Obama said his plan was a balance between deficit reduction pain and investment for growth. But it only provided a general guide on how to tackle entitlement outlays that include the Social Security and Medicare programs responsible for huge government spending. "The fiscal realities we face require hard choices," he said in a message to Congress accompanying the budget. "A decade of deficits, compounded by the effects of the recession and the steps we had to take to break it ... has put us on an unsustainable course.
That's why my budget lays out a path for how we pay down these debts," he said. Obama's $3.729 trillion budget proposal for fiscal 2012 shows the deficit rising to $1.645 trillion in fiscal 2011, then falling sharply to $1.101 trillion in 2012. This trend would trim the deficit as a share of the US economy to 3.2 per cent by 2015 from 10.9 per cent this year, and meet a pledge Obama made to his Group of 20 partners to halve the deficit by 2013. The news was welltimed, with G20 finance ministers meeting in Paris on Friday and Saturday. "You've got both parties looking to reduce the deficit, it at least says that they are both looking at the same idea, that if we want to get elected we need to be deficit responsible," said David Ader, head of government bond strategy at CRT Capital Group in Stamford, Connecticut. The budget shows the deficit steadying around 3 per cent of
gross domestic product from 2015 onward, slowing the rate at which the US adds to its debt, although it will still climb to 77 per cent of GDP by 2021, up from 72 per cent in 2011. Obama's budget for fiscal 2012 is a proposal to Congress laying out the president's policy priorities. Months of wrangling will now follow with Republicans in Congress, who control the House of Representatives and increased their seats in the Senate after November elections in which they campaigned on deep cuts in federal spending. "The president talks like someone who recognizes that spending is out of control, but so far it hasn't been matched with action," US Senate Republican leader Mitch McConnell said in a statement. "Americans don't want a spending freeze at unsustainable levels. They want cuts, dramatic cuts. And I hope the president will work with us on achieving them soon."-Reuters
EU discusses rescue fund, Berlin eyes package deal
BRUSSELS: European finance While there is no consensus Luxembourg Finance Minister ministers assessed ways of yet on all potential changes, the Luc Frieden said. strengthening their 440 billion euro zone appears to be coming The EFSF has euro zone goveuro rescue fund on Monday, close to an agreement that the ernment guarantees for up to but Germany remained reluctant rescue fund -- the European 440 billion euros ($596 billion), to bolster the facility without Financial Stability Facility but its effective capacity is only commitments on closer eco- (EFSF) -- should be made about 250 billion because of nomic coordination. stronger and more flexible. guarantees built into the fund. Monday's talks are supposed "The most important thing is That sum could be insufficient to prepare the ground for a to make sure the 440 billion can to bail out more than two coun"comprehensive package" of be used, give it a little bit more tries if both Portugal and potenexpiry of subsidies for ener- measures European leaders are flexibility to operate on the mar- tially Spain were to follow gy-efficient electrical appli- hoping to agree in late March to ket and I think there should be Greece and Ireland in needing a resolve the year-long debt crisis. political consensus around that," bailout.-Reuters ances." CHINA THE NEW NO 2 Under the scheme guarantee coverage has been reduced from 60 per cent to 40 per cent, interest The latest GDP figures confirmed analysts' estimates that rate cap has been removed. The bifurcation into two components (I & II) and the restricted scope of clusters have been removed. And legibility requirement for lending to farmers has been increased China pulled ahead of Japan in 2010 as the world's second- from Subsistence to Economic Landholding, and the loan size has been increased from Rs0.5 milbiggest economy behind the lion to Rs2 million.The definition of Small Enterprises has been simplified, while the loan size has United States on a seasonally been increased from existing Rs5 million to Rs15 million. unadjusted, nominal dollar Continued from page 1 No #8 basis, at $5.8786 trillion enhance the productivity and efficiency of these units. He further said that the government, which against $5.4742 trillion. was reinstating the retrenched employees, would never think to make the workers jobless as we believe Economics Minister Kaoru that workers were the back bone of our economy and our real national asset. All stakeholders includYosano said Japan needed to ing workers would be taken on board prior to initiating PPP mode for any transaction, he added. -APP make the most of China's Continued from page 1 No #9 growth to boost its own forBenazir Bhutto's government. Meanwhile, former ambassador to the United States Syed Abida tunes, as it increasingly relies on demand from its Asian Hussain talking to media persons said that Shah Mehmood Qureshi's performance has been affected by the Raymond Davis case. She said the foreign office remained silent for two days on Raymond neighbour.-Reuters Davis case after the issue came to limelight. The PPP leader said Cabinet post is given by the Party and Shah Mehmood Qureshi should have accepted the decision of the leadership. -Agencies
Japan Q4 econ shrinks, exports may fuel recovery TOKYO: Japan's economy shrank slightly in the final quarter of 2010 but analysts expect a recovery this year as stronger exports to China and other parts of fast-growing Asia offset persistently weak domestic demand. The data confirmed Japan lost its place to China last year as the world's secondlargest economy and highlighted Tokyo's increasing reliance on its giant neighbour, which buys nearly a fifth of Japan's exports. Gross domestic product (GDP) shrank 0.3 per cent in the October-December period from the previous quarter,
slightly less than a 0.5 per cent fall expected by markets but still the first contraction in five quarters. That translated into an annualised contraction of 1.1 per cent, with analysts largely blaming the weakness on a temporary hit to consumption after the September expiry of government incentives to buy low-emission cars. The data showed Japan's economy was the weakest among major rich nations, compared with annualised growth of 3.2 per cent in the United States in the same quarter. European data due out on Tuesday is expected to
show slight growth in the 17nation euro zone. "The data confirms that the economy entered a lull on a downturn in private consumption, but recent monthly economic indicators such as output and exports show it is unlikely that the lull will be prolonged," said Yoshiki Shinke, senior economist at Dai-ichi Life Research Institute. "The economy will continue to depend on external demand for growth, as domestic demand is likely to be capped by subdued income growth and the anticipated negative impact from the
CONTINUATION
of gas from Turkmenistan's South Yoloten-Osman field. Continued from page 12 No #1 Sources said Turkmenistan will give delivery of gas at How the case unfolds in Pakistan, a US ally seen as vital in the Afghanistan border and thereafter a consortium of companies war on militancy, will be closely watched by the United States and which would be formed to execute the project, will take over from other Western countries. -Agencies there to deliver gas to the host country through which gas pipeline Continued from page 1 will pass. The total length of the pipeline passing through No #2 fight against militants, had been scheduled for February 23-24 Afghanistan and Pakistan is 1,650 kilometers before entering India in Washington. "We hope that the trilateral meeting would be at Fazilka, Punjab. As per the plan, 38 million standard cubic rescheduled as soon as possible. Such meetings are important for meters per day of gas would go to India and Pakistan each while peace and security in the region," Pakistan foreign ministry 14 mmscmd would be bought by Afghanistan. New Delhi is apprespokesman Abdul Basit told media. The indefinite postponement hensive about the safe passage of the gas through the pipeline in marked the latest blow to Pakistani-US ties, which have been Afghanistan and Pakistan. A rival project for transporting gas from increasingly strained since Davis confessed to shooting dead two Iran to India via Pakistan through another transnational pipeline Pakistani motorcyclists in Lahore on January 27. dubbed the Iran-Pakistan-India (IPI) pipeline - has been stuck on Washington says he is a diplomat and immune from prosecu- the drawing board for over a decade now because of concerns over tion. US lawmakers have threatened to cut payments to Pakistan, the safe passage of gas through Pakistani territory. the beneficiary of $7.5 billion of aid and $2 billion in military aid, Continued from page 1 No #5 and Washington had warned that the high-level dialogue was at He said that industrialists could not be allowed to swallow the risk unless Davis is freed. -Agencies billion of rupees of public money. They made money from these Continued from page 1 No #3 loans by setting up industries and did not return their loans as Party workers should show respect to the party policies on the well, he added. Meanwhile, the counsel for the State Bank of issue of allocation of ministries. PPP's Secretary Information, Pakistan submitted a report with the Supreme Court saying that a Fauzia Wahab said Shah Mehmood Qureshi has no future in the total of 56336 cases were pending in various courts over recoverparty as he violated party discipline by refusing ministry in cabi- able bank loans of Rs215 billion till December 2009. net.Talking to private TV channel, she denied the notion of party Syed Iqbal Haider, counsel for SBP submitted a five volumes pressure on him relating to Raymond Davis's matter. report before a four-member bench comprising Chief Justice She said Qureshi was offered to hold the portfolio Water and Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Electricity, but he declined considering it insignificant. "Qureshi Justice Ghulam Rabbani and Justice Khalil-ur-Rehman Ramday committed violation of party discipline by saying that party forced that resumed hearing of a suo moto related to waiving off Rs 256 him to sign on summary against his wishes", Fauzia Wahab assert- billion bank loans during the period from 1971 to 2009. -Agencies ed.She said if he had any concerns with party on any issue, he must Continued from page 1 No #6 raise them earlier. Party leadership reserves the discretion to disThe decision to interrogate Abdul Qadir Gilani was taken in line tribute the portfolios. She said statement of Dr Firdaus Ashiq Awan pertaining to Shah Mehmood Qureshi couldn't be ruled out unani- with the directions of the Supreme Court (SC) to FIA's special mously. Fauzia Wahab said that Qureshi damaged his personality investigation team to question him in connection with the case. "We have formally decided to approach him with a questionnaire seekby violating party discipline while he has no future in party. ing explanation of various points being sent to him within two-three Continued from page 1 No #4 days," a senior FIA official told a local newspaper. -Agencies Sources said India rejected even this saying if it wanted gas at Continued from page 1 No #7 those rates it would not be willing to invest in the multi billion Sate Bank of Pakistan, UK's Department for International dollar pipeline instead would have simply increased imported volumes.TWG, comprising officials of the four countries in the TAPI Development (UKAID) and the Pakistan Banks Association pipeline project, are to finalise Gas Sales Purchase Agreement (PBA), says SMEFD Circular No 2 issued to all banks. The improvements in the schemes are expected to create desired (GSPA) this week. The Asian Development Bank (ADB) is the Lead Development Partner of the project which envisages supply momentum, thereby ensuring maximum utilisation of the facility and increasing market penetration.
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Shah Mehmood Qureshi who claimed resisting the US demand for certifying Davis's diplomatic status in order to enable his earliest release on basis of diplomatic immunity. Sources told Online that both sides so far remained stuck to their earlier stated positions that are the US describing its national's detention as illegal and Pakistan insisting on letting the law to take its course as the matter in a court of law. According to the sources, the Secretary told the Ambassador that the Ministry would not be able to give out its official stance to the US on the status of Raymond Davis unless the court permits so. Meanwhile an official spokesperson to the US Embassy while contacted described the issue of Shah Mehmood Qureshi as an internal matter of Pakistan. When asked for comments on Qureshi's statement doubting Davis's status, spokesperson told Online that they would have to wait for official stance of the government of Pakistan in this regard implying that Qureshi's words were no more official. -Online
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Topline increased by 37.5 per cent YoY to reach Rs79.97 billion against Rs58.15 billion in same period last year. Gross profit went up by 53.4 per cent to Rs20.7 billion against Rs13.49 billion recorded on same period last year. The growth in profitability stemmed from Engro Fertiliser (EPS: Rs11.40) and Engro Eximp (EPS: Rs4.67) which made up 84 per cent of total profitability of the company. Significant urea offtake during 4QCY10 supported the fertiliser business while trading business earnings from DAP offtake contributed as well.
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"While lower levels point to attractive buying opportunities, inflation still weighs and a decline cannot be ruled out." Inflation in world's second-fastest growing major economy eased less than expected in January to 8.23 per cent, holding well above the central bank's comfort zone and bolstering expectations it will raise key rates in its March review. The benchmark index is down 11.2 per cent so far in the year, with foreign funds pulling out $1.7 billion from Indian equities. In the week to Feb. 9, investors overall shunned emerging market equities and debt, data from global fund tracker EPFR showed. In that week, Chinese equity funds had outflows of $309 million, suffering redemptions for the seventh time in 10 weeks, while India equity fund outflows amounted to $120 million, making it four weeks in a row of net redemptions. Reliance Industries slid as much as 1.7 per cent after The Economic Times reported, citing an unnamed source close to proceedings, the markets regulator may impose penalty of up to 15 billion rupees ($328 million) if it establishes the firm was involved in insider trading. The energy major recovered the losses and eked out a 0.5 per cent gain at close. -Reuters
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Wal-Mart Stores Inc was one of the worst performers on the Dow after JPMorgan downgraded the stock, seeing weak traffic and lower market share for the retail giant in 2011.-Reuters
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head of sales at Capital Spreads, said. US President Barack Obama proposed a budget on Monday that would cut the US deficit by $1.1 trillion over 10 years, setting the stage for a bitter fight with Republicans who want even tougher spending controls. Traders also cited technical factors for holding back Britain's FTSE 100, after gaining some 3 per cent in February. "After the big run-up we have seen since the end of January a phase of consolidation is arguably overdue," Yusuf Heusen, senior sales trader at IG Index, said. International Consolidated Airlines Group shed 1.6 per cent as brokers cut target prices for the airline after last week's warning from European peer Air France-KLM. Miners rose as Chinese economic data showed a smaller-thanexpected trade surplus in January.-Reuters
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PM reaches Kuwait
Gilani, Sabah talk trade & ties KUWAIT: Prime Minister Syed Yousuf Raza Gilani called on Amir of the State of Kuwait, Sheikh Sabah Al-Ahmad AlJaber Al-Sabah here on Monday and discussed bilateral ties and matters of mutual interest. Kuwaiti Prime Minister Sheikh Nasser Al Mohammed Al-Ahmed Al-Jaber AlSabah and Crown Prince Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah were also present in the meeting in which the two sides besides discussing bilateral relations, also exchanged views on the matters of regional and international importance, particularly the challenges faced by the Muslim Ummah. Prime Minister Gilani, who arrived in Kuwait for the first time since assuming office in 2008, congratulated Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Kuwait's 50th Independence, 20th Liberation anniversary and 5th anniversary of Amir's accession. Gilani was also accompanied by Minister of State for Foreign Affairs Hina Rabbani Khar, Chairman Board of Investment Salim Mandviwala and MNA Raja Pervaiz Ashraf. Prime Minister briefed the Amir of Kuwait about the measures being taken by the democratic government in Pakistan to tackle various challenges facing the country including the war against terrorism and economic problems. Pakistan and Kuwait enjoy extremely cordial and brotherly relations. These
bilateral political, cultural, historic, and religious ties have been further strengthened by leadership level visits. The two countries have always stood by each other in difficult times. Pakistan was among the countries that sent their troops to Kuwait following the Iraqi invasion in 1990. Earlier, talking to media at airport before leaving for two days official visit to Kuwait Prime Minister Prime Minister Gilani said all-important matters would come under discussion with Kuwait leadership during his visit including investment in different sectors. PM Gilani has said that the reason of his visit to Kuwait is to strengthen bilateral relation with Kuwait especially in economic and political sectors. He said that Kuwait and Pakistan enjoy cordial relation with each other's and that's why President of Pakistan would visit to Kuwait for its 50 years independent celebrations. Gilani said he would meet with Kuwaiti leadership including Ameer Kuwait Sheikh Sabah-Al Ahmed and Crown Prince Sheikh Nawaf Al-Ahmed to discuss all bilateral matters including economic and political matters. He further said that Pakistan and Kuwait are two brotherly Islamic countries and both of them have longstanding relation. He said, it would be our first priority to improve economic relation with Kuwait. -Agencies
Prosecution asked to present proof on next hearing
Qadri indicted in Taseer case RAWALPINDI: Anti-Terrorism Court (ATC) Rawalpindi Monday charged Malik Mumtaz Hussain Qadri in Governor Salman Taseer murder case. Qadri had confessed to killing Taseer, objecting to his calls to reform the blasphemy law, which sentences to death those convicted of defaming the Prophet Mohammed (PBUH). One of Qadri's lawyers, Malik Mohammad Rafiq Khan, told after an anti-terrorism court session held behind closed doors: The judge examined the record and said that apparently the accused committed murder and terrorism. "The judge read out the charges to the accused. The accused pleaded not guilty," Khan said in the garrison city of Rawalpindi. The next hearing will be held on
February 26, when witnesses and evidence will be presented, the lawyer added. Mumtaz Qadri, who admitted to killing Punjab governor Salman Taseer on January 4, gained wide support, especially from Islamists who see liberal politicians such as Taseer as straying from Pakistan's Islamist credentials. "The charges have been framed against Qadri and the prosecution has been asked by the court to present evidence in the next hearing," the prosecutor, who asked not to be named, told Reuters. Qadri's lawyer, Tariq Dhamial, quoted him as saying in court before the charges were read: "I have taught a lesson to the Salman Taseer in the light of the teachings of the Koran." See # 1 Page 11
Allegations in BB case absurd, spokesman
Musharraf eyes visit to Lahore LONDON: Spokesman to former president Pervez Musharraf, Fawad Chaudhry divulged that Pervez Musharraf is planning to visit Lahore in current year in connection with taking part in politics and serving the nation. According to private TV channel, addressing the press conference in London, spokesman to former President Pervez Musharraf Fawad Chaudhry revealed that Musharraf is planning to visit Lahore this year to take part in politics and to serve the country.
He further said that allegations on Pervez Musharraf in Benazir Bhutto assassination case are ridiculous. He said that the former president had apprised Benazir Bhutto several times about her life threats but she neglected the warnings. He further said that Federal Investigation Agency did not contact Pervez Musharraf in this regard, only media is informing about the statements. He said that protests would be staged against those leveling charges on Pervez Musharraf. -Online
Finance body meet put off ISLAMABAD: An important meeting of Senate Standing Committee on Finance has been postponed because the chairman committee could not reach due to unpleasant weather while next meeting would be held on 23 February at Parliament House. As per details, meeting of Senate standing committee on finance was held on Monday wherein the officials were to deliver briefing about revenue shortfalls of FBR in 2010, 2011 and bills of Industrial Development Bank. Chairman Committee Senator Ahmad Ali and other members could not catch flight due to unpleasant weather while next meeting would be held on 23 February. Talking to this news agency Senator Ahmad Ali confirmed that he could not catch flights due to unpleasant weather and now next meeting would be held on 23 February. -Online
RAWALPINDI: Prime Minister Syed Yousuf Raza Gilani being seen off by Kuwait Ambassador Flah Al-Mutairy, on his departure at PAF Base in Chaklala.-Online
Spanish army chief meets Kayani, Wyne RAWALPINDI: General Juse Julio Rodriguez Fernandez, Chief of Defence Staff Spanish Armed Forces called on Chairman Joint Chiefs of Staff Committee (CJCSC) General Khalid Shameem Wyne and Chief of Army Staff General Ashfaq Parvez Kayani separately on Monday at General Headquarters. According to ISPR, General
Jose Julio Rodriguez Fernandez, Chief of Defence Staff, Spanish Armed Forces, Republic of Spain, on an official visit to Pakistan, visited Joint Staff Headquarters Chaklala today and met General Khalid Shameem Wynne, Chairman Joint Chiefs of Staff Committee (CJCSC). He remained with CJCSC for sometime and discussed matters of professional interest and
evolving geo-strategic environments of the region. Both the dignitaries also discussed the areas of mutual cooperation between the two armed forces. On arrival at the Joint Staff Headquarters Chief of Defence Staff, Spanish Defence Forces was presented guard of honor by smartly turned out contingent of Tri Services. The visiting dignitary remained
with him for some time and discussed the matters of professional interest. General Jose Julio Rodriguez Fernandez also called on Chief of Army Staff, General Ashfaq Parvez Kayani on Monday at General Headquarters. The visiting dignitary remained with him for some time and discussed the matters of professional interest. -Online
Gen Wyne calls on Zardari ISLAMABAD: President Asif Ali Zardari Monday met Chairman Joint Chief of Staff Committee General Khalid Shamim Wyne in which host of issues of bilateral interest came under discussion. Sources say that the meeting lasted for quite a while in which set of issues like war against terrorism, security situation in province, operational preparedness of Armed Forces and others were discussed in depth. President told Wyne that country is passing though tough monetary situation but will support and cater the needs of Armed Forces thick and thin. Undoubtedly Pakistan Armed Forces are impregnable, Zardari maintained. Sources further added that during the course of the meeting President highly acclaimed the sacrifices and services of Pakistan Army to help the affected. -Online
2 SC judges sworn in ISLAMABAD: Justice Iftikhar Muhammad Chaudhry, Chief Justice of Pakistan administered the oath of the office to Justice Sarmad Jalal Osmany, Chief Justice Sindh High Court and Amir Hani Muslim, judge Sindh High Court, as judges of Supreme Court of Pakistan Monday in a simple but dignified ceremony. Judges of the Supreme Court of Pakistan, Chief Justice Islamabad High Court, Attorney General for Pakistan, Federal Law Secretary; president Supreme Court Bar Association, Representatives of the Bars, Prominent Lawyers, Officers of Law & Justice Commission of Pakistan, and Officers of the Court also attended the ceremony. Dr Faqir Hussain, Registrar Supreme Court of Pakistan conducted the proceedings of oath taking ceremony. Officers and staff of the Supreme Court of Pakistan were also present at the occasion. -Online
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