International Karachi, Wednesday, December 15, 2010, Muharram-ul-Haram 8, Price Rs12 Pages 12
PM calls for action against corruption
Pak voices worry over nuclear bias
See on Page 12
Rangers wave red flag in Khi
See on Page 12
Regulators carve into bank profits
See on Page 12
See on Page 12 Economic Indicators Forex Reserves (4-Dec-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Oct 10) Imports (Jul 10-Oct 10) Trade Balance (Jul 10-Oct 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Oct 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Sep 10)
GDP Growth FY10E Per Capita Income FY10 Population
$16.39bn 14.44% $7.17bn $12.25bn $(5.08)bn $(533)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5234.9bn $203.80mn -2.58% 4.10% $1,051 171.31mn
Portfolio Investment SCRA(U.S $ in million)
195.79 33.06 1.02 2632
Yearly(Jul, 2010 up to 13-Dec-2010) Monthly(Nov, 2010 up to-13-Dec-2010) Daily (13-Dec-2010) Total Portfolio Invest (26 Nov-2010)
NCCPL
Fazl no more with govt PM sacks Swati, Kazmi over verbal bout
l Kazmi put on ECL as evidences found l FIA proposes to freeze Kazmi's accounts
l Khursheed Shah gets Ministry of Religious Affairs with additional charge of Labour & Manpower l Shahabuddin receives Defence Production portfolio with additional charge of Health Ministry l Sardar Assef Ahmed Ali given IT Ministry with additional charge of Minister for Education Special Correspondent/ Agencies
(U.S $ in million)
FIPI (14-Dec-2010) Local Companies (14-Dec-2010) Banks / DFI (14-Dec-2010) Mutual Funds (14-Dec-2010) NBFC (14-Dec-2010) Local Investors (14-Dec-2010) Other Organization (14-Dec-2010)
19.51 3.66 0.46 0.17 -21.95 -1.45 -0.40
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 11,672.64 10,316.77 23,431.19 19,799.19 2,727.86 2,927.08 5,879.00 11,485.13
Change 75.95 22.88 113.58 107.41 17.03 4.13 18.25 56.57
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 111.41 22.56 193.34 2.00 42.85 1.70 36.42 10.71 36.71
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
01-Dec-2010 01-Dec-2010 01-Dec-2010 29-Nov-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010 14-Dec-2010
13.16% 13.39% 13.67% 14.00% 13.09% 13.40% 13.60% 13.95% 14.10% 14.16% 14.24% 14.27% 14.56% 14.73% 14.91%
Commodities *Crude Oil (brent)$/bbl 90.94 *Crude Oil (WTI)$/bbl 88.08 *Cotton $/lb 145.30 *Gold $/ozs 1,394.90 *Silver $/ozs 29.46 Malaysian Palm $ 1,172 GOLD (NCEL) PKR 38,763 KHI Cotton 40Kg PKR 9,752
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 83.90 Canadian $ 84.35 Danish Krone 15.10 Euro 112.90 Hong Kong $ 10.90 Japanese Yen 1.013 Saudi Riyal 22.75 Singapore $ 65.00 Swedish Korona 12.10 Swiss Franc 86.75 U.A.E Dirham 23.35 UK Pound 134.90 US $ 85.80
Sell (Rs)
84.90 85.45 15.20 114.90 11.00 1.038 23.00 66.00 12.20 86.85 23.55 136.90 86.00
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
85.22 84.91 15.38 114.62 11.01 1.026 22.82 65.69 12.55 88.37 23.31 135.80 85.70
85.42 85.11 15.41 114.89 11.03 1.028 22.88 65.85 12.57 88.58 23.36 136.11 85.89
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
21°C 29°C 21°C 23°C 20°C 21°C
MIN
2°C 10°C 5°C 5°C -6°C 3°C
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ISLAMABAD: The Jamiat Ulema-e-Islam (JUI-F) has parted its way with the coalition federal government in protest against sacking of its minister Azam Swati from the Cabinet by Prime Minister Syed Yousuf Raza Gilani. PM Gilani Tuesday sacked Ministers for Religious Affairs Hamid Saeed Kazmi and Minister for Science and Technology Azam Swati from their offices. Though PM House statement did not mention any reasons, it is believed that Kazmi was fired as serious allegations of corruption in the Hajj this year were leveled against him, while there seem to be no reason why Swati was sacked,
Sacked other than he entered verbal bout with minister of Religious Affairs Hamid Kazmi, blaming him for corruption in Hajj operations. JUI-F chief Maulana Fazl-ur Rehman told reporters that his party decided to quit the
BP sells Pakistan assets for $775mn LONDON: British Petroleum said it had agreed to sell a portfolio of oil and gas assets in Pakistan to Hong Kong-listed United Energy Group for $775 million as it raises cash to pay for the Gulf of Mexico oil spill. BP said Tuesday that the planned disposal of its upstream assets in Pakistan brought to $21.8 billion, the amount that the company has raised, or agreed sales on, in recent months. The $775 million value of the disposal was higher than the $690 million analysts estimated the assets were worth in July. BP said it expects the costs of the Gulf oil spill -- the United States worst ever -- to hit $40
billion and said it would sell assets worth $25-$30 billion by the end of 2011 to pay for it. Most recently it raised $7 billion through the sale of its stake in Argentina-based Pan American Energy to China's CNOOC. United Energy Group, which has oil and gas interests in China and Indonesia and also operates in the oilfield services sector, beat off competition from Pakistan's Oil and Gas Development Co (OGDCL) which said earlier in December it was bidding for the assets alongside partner Pakistan Petroleum. The cash sale included nine producing and exploration See # 15 Page 11
Offshorers invest $19.51m
KSE sees biggest single-day inflow Ahmed Siddique KARACHI: Capital markets in Pakistan witnessed a biggest net inflow of the year-2010 Tuesday as the offshore investors invested $19.51 million on a single day as per the National Clearing Company of Pakistan Limited (NCCPL) data. As per the sources, foreigners bought Unilever Pakistan's 400 thousand shares at Rs4350
per share from NBFC in off market. Overall, foreign investors bought shares worth $22.54 million and sold $3.02 million, resulting in net buying of $19.51 million. Most of the net-buying were made by foreign corporate with $19.75 million while foreign individual and overseas Pakistani net sold worth of See # 14 Page 11
Sacked alliance with PPP-led government after PM Gilani sacked JUI-F minister Swati. "We were cooperating with the government under reconciliation policy, but now it's impossible for us to stay in coalition after Gilani's one-
Regulations for market makers OKed ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), in line with international best practices, and to promote liquidity in the capital market, has approved the regulations for market makers for the Karachi Stock Exchange. The market makers play an important role in the capital market by promoting liquidity in relatively less liquid securities by buying and selling these securities in return for a bid spread. The regulations broadly cover qualification criteria to become a market maker, qualification criteria for products eligible for market making, enforcement actions and See # 13 Page 11
2-day closure per week
CNG dealers to move court KARACHI: An emergency meeting of CNG Dealers Association (CDA) on Tuesday decided to approach the court against the decision of Sui Southern Gas Company (SSGC) to shut down gas supplies to CNG filling stations twice a week. The meeting presided over by the chairman CDA Abdul Sami See # 12 Page 11
Religious Ministry sided decision to sack Azam Swati," he told reporters. "We are saying goodbye to the government" Fazl announced after chairing an emergency meeting of Majlise-Shura (advisory council) of the party.
IT Ministry JUI-F chief said party will follow the same policy in the National Assembly as it adopted in the Senate in relation to RGST. He said their decision was final and they would not rejoin the government.
Pak lost its best friend, say President, PM
Diplomacy giant Holbrooke dies World leaders pay tribute WASHINGTON/ ISLAMABAD: Richard Holbrooke, the diplomat who brokered the accord that ended the war in Bosnia and served as US special representative for Afghanistan and Pakistan, died on Monday night. Holbrooke, 69, whose government career spanned nearly five decades and ranged from junior diplomat in south Vietnam, to US ambassador to Germany and at the United Nations, died after surgery to repair a tear in his aorta. He fell ill on Friday during a meeting with Secretary of State Hillary Clinton and was taken to a hospital, where he underwent hours of extensive surgery to try to save his life.
"Michelle and I are deeply saddened by the passing of Richard Holbrooke, a true giant of American foreign policy who has made America stronger, safer, and more respected," President Barack See # 10 Page 11
5M net FIs fall 28pc to $746mn Ghulam Raza Rajani KARACHI: Net foreign investment inflow in the country dropped 28.4 per cent to $745.8 million in first five months of fiscal year 2011 compared with $1.04 billion in same period last year, as per the State Bank of Pakistan. Out of total foreign investment, foreign direct investment
(FDI) depicted a decline of 21.5 per cent to $573.3 million in 5MFY11 as compared to $730.4 million in 5MFY10. TFD analyst highlighted that due to not having ideal climate of investment, owing to poor law & order, lack of infrastructure, power shortages, deprecating Pak currency and political uncertainty, Pakistan has See # 17 Page 11
Defence Ministry He, however, mentioned that his faction will not leave parliamentary committees, on the grounds that the bodies belong to the National Assembly. JUI-F's Maulana Shirani will remain the chairman of Islamic See # 8 Page 11
SOEs sell-off starts from January 2011 ISLAMABAD: Government is planning to divest minority stakes or offer equity linked instrument such as convertible bonds to bring in foreign firms to provide management expertise necessary to raise the value of the State Owned Entities (SOEs) before offering bigger stakes. Senator Waqar Ahmed Federal Minister for Privatisation said in an interview with a foreign news agency, says a message received from London, here on Tuesday. He said that the program was expected to launch from January 2011 with 5 to 6 entities to be offered during the See # 9 Page 11
Assange out on bail from London jail LONDON: WikiLeaks founder Julian Assange, arrested in Britain on Swedish allegations of sex crimes, was freed on bail by a British court Tuesday. Judge Howard Riddle granted him bail with conditions until another hearing on January 11. The 39-year-old Australian, whose website has provoked See # 11 Page 11
State Bank's Financial Stability Review 2009-10
Pak fiscal system size grows to Rs9.2tn Staff Reporter KARACHI: Pakistan's financial system size, in terms of assets, increased to Rs9.2 trillion by end-June 2010 showing a robust growth of 20 per cent from December 2008 level of Rs7.71 trillion, says State Bank's Financial Stability Review 2009-10, which was released here on Tuesday. The Report, which presents
an assessment of financial stability for 2009 (CY09) and the first half of 2010 (1HCY10), is based on the theme of "Role of Government in the Financial Sector" and assesses the government's developmental role in enhancing the financial development in the country. The Report said that stability of the financial system is largely derived from the pre-dominant position of the banking
sector, as other components of the financial system continue to grow at a more gradual pace. "Domestic banking sector assets constitute 73.2 per cent of total financial system assets", the Report added. It said the bank deposits, which have a key contribution in maintaining financial stability, grew by 13.5 per cent in CY09, and 8.2 per cent in 1HCY10, bringing the total
deposit of the banking system to Rs5.1 trillion by end-June CY10. "This bodes well for enhancing prospects of financial stability, especially keeping in view the slowdown in deposits growth in CY08," the Report added. The deposit growth is largely driven by the growth in home remittances of 23.9 per cent (in USD terms), gradual economic
recovery, and the substantial increase in government borrowing, a portion of which flows back into the banking system in the form of deposits, it added. The Report opined that healthy deposit growth is indicative of banks' resilience to the competition from the National Savings Schemes (NSS), which generally offer a higher rate of return than bank
deposits. It said that the pace of deterioration in the quality of advances slowed down considerably as in CY09 Non Performing Loans (NPLs) increased by 24.2 per cent to Rs432 billion and further by 6.4 per cent to Rs460 billion by end-June CY10. 'Going forward, NPLs remain a key cause of concern for the See # 16 Page 11
2
Wednesday, December 15, 2010
Khi city govt hands over machinery to Rangers
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah offering Fateha on sad demise of M A Zuberi with his sons at thier residence.-APP
Superbrand s receives industry’s kudos KAEACHI: Superbrands Pakistan has recently been endorsed by two of the leading industry associations namely the Marketing Association of Pakistan and the Advertising Association of Pakistan. President, Marketing Association of Pakistan (MAP), Masood Hashmi welcomed Superbrands initiative and termed it a catalyst for healthy competition in the branding arena. Shahnoor Ahmed, President, Advertising Association of Pakistan (AAP), also expressed his positive thoughts and confirmed support for the Superbrands Program on behalf of AAP. Superbrands is the world's independent arbiter on branding. Over the past 15 years, Superbrands has produced hundreds of high quality publications that have served and promoted the greatest brands.-PR
TV PROGRAMMES WEDNESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24
WEDNESDAY Time Programmes 8:00 Chai Time (Rpt) 9:00 News 9:15 Pehla Sauda 10:00 News 10:15 Bazaar 11:00 News 11:05 Ghar Ka Kharch 12:00 News 12:15 Power Lunch 13:00 News 13:05 Islamabad Say (Rpt) 14:00 News 15:02 Akhri Sauda 15:30 Aap Ka Paisa (Rpt) 16:15 Karobari Dunya 17:05 Ghar Ka Kharch (Rpt) 18:05 Chai Time 19:00 News 19:30 Mang Raha Hai Pakistan 20:00 News 20:05 Islamabad Say 21:00 Pakistan Aaj Raat 22:00 News 22:05 Doosra Pehlu 23:00 News 23:05 Badalta Pakistan (Rpt) 0:00 News
Minister takes notice of kidnapping
Steps afoot to better child future: Sharmila KARACHI: Advisor to Sindh Chief Minister Ms Sharmila Farooqui has taken the notice of the kidnapping of a girl Kajal from Bakhshapur, Kashmore and another 12-year-old girl Faaiza from Saddar police station, Karachi. Taking notice of reports on a local TV channel, she directed relevant DPOs and TPOs to present her detailed reports of the incidents and ensure arrest of the culprits with immediate effect. Sharmila said torture
on children, their kidnapping and other incidents are defaming the country at an international level. The advisor said these inhuman and barbaric incidents are the challenge for the democratic government and stigma on the society. The advisor said the children are the precious asset of the country, which will turn into new generation in the future and run the reigns of the country. Sharmila said the children are the future of the country, so the parents
along with the society also need to protect them and provide healthy atmosphere to them. Sharmila Farooqui said we will have to devise a comprehensive planning and make joint efforts to end torture and violence on children. She said the government is taking effective steps to provide better future to the children and people. Various projects in this connection are underway across the province which will ensure solution to their problems, she said.-PPI
LCCI reject RGST levy Staff Correspondent LAHORE: The trade and industry of Lahore has unanimously and categorically rejected the government's intention to impose Reformed General Sales Tax (RGST) in its existing format and formed a committee to identify lacunae in it and later on initiate talks with the government. The meeting was chaired by the LCCI Acting President Sheikh Mohammad Arshad. LCCI Vice President Sohail Azhar, former Presidents Sheikh Mohammad Asif, Mian Anjum Nisar, Mohammad Ali Mian, Zafar Iqbal Chaudhry, Acting President Anjumane-Tajiran Pakistan Khalid Pervaiz, Secretary General Abdul Razzaq Babbar President Anjuman-eTajiran Badami Bagh Waqar Ahmad Mian, Chairman Anjuman-eTajiran Ferozepur Road Mehboob Sirki, President All Pakistan Leather Importers Association Tariq Masood Chaudhry, Representatives of Anjuman-e-Tajiran Hall Road, Chairman All Pakistan Sewing Machine Association Ghulam Sarwar Hajveri and representative of Paper Merchants Association Khamis Saeed Butt.
Medical camps set up for Azadaraan
KARACHI: President Pakistan Association of Photo Journalists Mujeebur Rehman addressing during condolence meeting in memory of M A Zubairi organized by CPNE.-APP
KARACHI: LCCI conducted moot on RGST which was presided over by President Sheikh M Arshad. Vice President Sohail Azhar, Ex-President Sheikh M Asif, Mian Anjum Nisar and Zafar Iqbal are also present on the occasion.-Staff Photo
KARACHI: Member of National Assembly Shiekh ud Din cutting the ribbon to inaugurate a filtration plant at Buffer Zone Sector.-Online
KARARCHI: On the directive of Sindh Minister for Health Dr Sagheer Ahmed the Health department Sindh has assigned duties to medical officers to supervise the medical camps set up for the Azadaraan & the processions of the Muharram-UlHaram from 15th to 18th December. It is also pertinent to mention here that Minister Health Dr Sagheer Ahmed and Secretary Health Syed Hashim Raza Zaidi will also visit various hospitals during KARACHI: Salim Azhar, Director Human Resources, Indus Motor Company receiving Corporate Excellence Ashura-e-Muharram. Award of Management Association of Pakistan All the above officers have been directed by Minister (MAP) from Chief Guest Dr Ishrat Husain, Director, Institute of Business Administration. Indus was Health to ensure their availability during the assigned given this award in the category of Automobiles and Allied Sector.-Staff Photo days, without fail.-PPI
KARACHI: Administrator Karachi Fazalur Rehman has said that in view of past experiments, the city government Karachi has handed over 20 tankers, 20 fire tenders, 15 ambulances and streetlights repairing vehicles with officers and staff of essential services to Rangers by 11th Muharram, so that they could use these resources in any emergency situation. This he said while addressing a press conference at DCO camp office. He said that the city government has handed over its resources to Rangers so that command and control system remain at one place. The administrator said that the city government has also established Emergency Command and Control Centre at Civic Centre and DCO Camp Office in view of Muharram-ul-Harram. The administrator said the Control Room in Civic Center and DCO cam office have also been handed over to Rangers for Muharramul-Harram where senior officers will be deputed. More than 80 surveillance cameras will be used for thorough monitoring of the city.-PPI
Visa to secure payment card data KARACHI: Visa Inc launched a global effort to reduce unnecessary storage of sensitive card information in merchant payment systems. Understanding the significant commitment by merchants to secure the payment system and to protect sensitive cardholder information from criminals, Visa is clarifying existing operating regulations to ensure that acquirers and issuers allow merchants to present a truncated, disguised or masked card number on a transaction receipt for dispute resolution in place of the full 16-digit card number, said a handout issued here. "Visa's priority is protecting cardholders and the integrity of the electronic payments system," said Eduardo Perez, Head of Global Payment System Security, Visa Inc. "By reducing the amount of vulnerable data in merchant systems that must be protected from compromise, merchants can see greater security as well as more streamlined compliance needs." Visa and the National Retail Federation (NRF) agree that merchants should not be obligated by their acquiring banks to store card numbers for the purpose of satisfying card retrieval requests.-PR
Qaim offers fateha for M A Zuberi KARACHI: Chief Minister Sindh Syed Qaim Ali Shah has condoled with sons of senior journalist M A Zuberi on the demise of their father, on Tuesday at their house in Clifton. CM prayed for the departed soul. He said M A Zuberi (late) had played a pivotal role for promoting democracy and media freedom. He said that the void left in the field of journalism after his sad demise could not be easily filled. Advisor of CM Sindh Rashid Rabbani, Mohammad Siddqui Abu Bhai, special assistant Waqar Mehdi and press secretary Allah Bachayo Memon were also present.-PPI
Japan fuels $4.68mn for Pak polio drive I S L A M A B A D : Government of Japan and the United Nations Children's Fund (UNICEF) Tuesday signed an agreement whereby Japan would provide further funds of 395 million Yen equivalent to US$ 4.68 million to continue its support to the National Polio Eradication Program. Funds provided by the Japan would be used to procure oral polio vaccine during 2011. The Federal Minister for Health, Makhdoom Shahabuddin was present on the occasion to witness the ceremony while His Excellency, Chihiro Atsumi, Ambassador of Japan to Pakistan and Daniel Toole, Regional Director for South Asia and Special Representative for Pakistan Flood Response, UNICEF Pakistan, signed the Exchange Notes. Mr. Takatoshi Nishikata, Chief Representative, Japan International Cooperation Agency (JICA) and Daniel Toole signed the Grant Agreement for the release of funds for the said purpose. The Government of Japan has supported the Polio Eradication Program in Pakistan since 1996. Total contribution made so far by
ISLAMABAD: Takatoshi Nishikata, Chief Representative, Japan International Cooperation Agency (JICA) and Daniel Toole exchanging documents after signing agreement for the release of funds as Japan provide $4.68 million to continue its support to the National Polio Eradication programme in Pakistan.-APP
the Government of Japan comes up to $86.86 million, a sum which is a significant contribution towards reducing the number of polio cases in Pakistan. For the past 14 years, Japan's support has been instrumental in ensuring that sufficient quantities of vaccine are in place and to ensure a sustained cold chain to protect the potency of the vaccine. JICA has also been involved in UNICEF, along with other partners, continues to pro-
vide technical assistance to the Government of Pakistan to support polio eradication activities. Since the program was launched in 1994, the number of cases has been reduced from more than 30,000 in 1994 down to 126 in 2010. Global experts have reinforced that Pakistan's polio program is the strongest ever and that polio can be eradicated if there is commitment at all levels to overcome the remaining operational challenges.-PPI
IOM treats over 45k victims KARACHI: International Organisation for Migration IOM says its emergency medical program launched in September to help restore Pakistan's flood-damaged healthcare system will be extended and expanded through May 2011 thanks to $350,000 from Canada and $500,000 in new funding from UN-administered Pakistan Emergency Response Fund. New activities, starting in January 2011, will include refurbishment of four flooddamaged health clinics in Sindh and Punjab provinces. IOM will also support government in
enhancing existing health centers for telemedicine and teleradiology. Centers are essential for doctors in remote areas who need to consult specialists. "We have treated total of 45,026 patients since clinics opened in early September. This includes consultations by our medical mobile teams, who bring basic health care to flood victims in hard-to-reach areas," says IOM Migration Health Programs Manager Dr. Zeljko Pavlovic. Pavlovic said with onset of winter in south of Pakistan, acute respiratory infections are the most
prevalent illnesses. "Many flood victims in the worst affected provinces of Sindh and Punjab had their homes ruined and lost their livelihoods." IOM's four clinics in Sindh & Punjab are run by a total of 20 health care professionals, including 8 doctors. In Sindh, where more than estimated 800,000 houses were either destroyed or damaged by floods, some areas remain underwater, making hospital access impossible. Where possible, IOM operates ambulances to transport emergency patients to hospitals.-PPI
Samsung, SOS build school in rural area KARACHI: Samsung Electronics has built of a modern school at Ladhayke Village in District Kasur, to serve a vast rural area and uplift the standard of education. This school, constructed in collaboration with SOS Rural Support Programme (SOS RSP), was inaugurated by the Samsung Pakistan's Senior Manager, In Jee Lee. "Samsung Grammar School" for girls, has been built and furnished with generous funds provided by Samsung. It will be operated by the SOS RSP to provide a high standard of education to the region. The opening ceremony was a colourful event, graced by In Jae Lee, who shared the joy of creating this educational opportunity for the rural population. Students gave an interesting performance and a large number of media representa-
tives were also present. Samsung Pakistan's Managing Director, Heeh Chang Yee said, "Samsung has an elaborate Social-development and CSR commitment, whereby, we are making efforts to foster modern education in underdeveloped regions. We support well established welfare organizations like "SOS Villages" to provide quality education, thus accelerating the social, educational and financial progress of the whole region". Rabiya Siddiqui, PR Manager Samsung said; "It is a pleasure to see that a great brand of electronics - Samsung is playing a big role in developing schools in the rural areas. The talented students of Kasur region will now study in a modern environment and be ready to face the challenges of life. -PR
NUST wins CFA challenge Staff Reporter KARACHI: National University of Science & Technology (NUST-Business School) won 3rd Local Investment Research Challenge hosted by CFA Pakistan, held in Karachi. Seven leading business schools of the country participated in the competition. After winning in local challenge, NUST has advanced to the Regional Investment Research Challenge which will be held in Bali, Indonesia. NUST will compete with teams from mainland China, Hong Kong, Taiwan, the Philippines, Indonesia, India, Korea, Japan, New Zealand, Sri Lanka and Singapore. The winner of regional competition in Bali will advance to the Global Investment Research Challenge at Omaha, Nebraska USA. Power is a major issue that Pakistan and the world is facing at the moment. With this background, Hub Power Company was selected as a case study for this year's
IRC so that the students could get a view about Power Sector. The Global Investment Research Challenge (GIRC) by CFA institute is a unique opportunity for university students to get practical experience in equity research and company analysis. This year over 2000 students are competing from 500 universities across the world in the Challenge. Muhammad Jawaid Iqbal, CFA, president of CFA Pakistan, stated: "This competition is a prime example of how we work with our university partners to nurture the next generation of investment professionals. I would like to record my appreciation for my fellow board members and society volunteers who have jointly contributed to CFA Pakistan becoming one of the leading societies globally." Vince Harris, Chief Executive Officer, Hub Power Company, graced the occasion as Chief Guest and shared his positive views on power sector of the country.
3
Wednesday, December 15, 2010 Top Economic Events
Euro retreats after hitting 3-week high; Fed on tap Australian dollar breaks parity with greenback NEW YORK: The euro hit a threeweek high against the dollar on Tuesday but gave up gains as US bond yields edged higher and investors squared positions ahead of the last Federal Reserve meeting of the year. After long-dated US yields rose following President Barack Obama's deal last week to extend US tax cuts for all earners, traders said the market will watch closely for any sign the Fed could speed up or alter a $600 billion bond-buying program designed to push long-term interest rates lower. "The Fed could be interesting depending on how vocal they are in either committing to the full amount now that they've got additional fiscal stimulus or whether they feel they have to step on the gas to get rates back down," said Brian Dolan, chief strategist at Forex.com in Bedminster, New Jersey. Dolan said the euro, which began
the week at $1.32 and hit a threeweek high near $1.35 overnight, could rally further if it closes above $1.3450, with a move to $1.37 possible. But traders said that would likely require the Fed to sound an aggressive note on its easing program. Markets expect the Fed to reaffirm its current policy when it ends its meeting at around at 1915 GMT while acknowledging improved economic data. The euro was last changing hands at $1.3385, unchanged on the day. Earlier, it hit a three-week high of $1.3498 after breaking $1.3475, the 38.2 per cent retracement of its November decline,
The Australian dollar hit a one-month high above parity with the greenback as oil prices rose but eased to $0.9970,
while the dollar was unchanged at 83.45 yen. Traders also said year-end positioning and low trading volume as exaggerating some price swings. Data Tuesday showed US retail sales rose by more than expected in November, suggesting US growth is gaining traction. The tax cut deal, agreed to last week
Asian currencies
Taiwan dlr, won up on foreigner's appetite, weak USD Seen rising on economic fundamentals, fund inflows SEOUL: The Taiwan dollar and the South Korean won led gains in most Asian currencies on Tuesday, helped by foreign investors' appetite for riskier assets and broad weakness in the US dollar. Trading was thin, however, with year-end approaching and traders also awaiting a US Federal Reserve policy meeting later in the day. "Asian currencies reflected a soft dollar today, but there was not much thing to play on, especially before the Fed. In December, all Asian currencies are seen in a tight range," a Kuala Lumpur-based dealer said. Still, Asian currencies are
expected to appreciate further next year as brighter economic prospects in the region outlook and loose policies in major economies will keep attracting foreign investors, analysts and dealers said. The Taiwan dollar hit its strongest level in more than 13 years against the US dollar in morning trade. The Taiwan dollar jumped as much as 2.3 per cent to 29.904 from its previous domestic close of 30.600, the strongest since Oct 1997. Dealers said the gains reflected the increasing risk appetite of foreign investors after the US dollar slipped against the euro overnight. Westpac said momentum was
Stg slips from 3-wk highs against dollar LONDON: Sterling slipped from three-week highs against the dollar on Tuesday as investors cashed in profits after UK inflation came in higher than expected and the greenback got a boost from strong US data. US retail sales and producer prices rose slightly more than forecast in November, implying faster economic growth.
Earlier in the session, selling by a UK clearer in the pound/Australian dollar cross pushed sterling lower across the board, though thin trading volumes exaggerated price swings, market participants said. Sterling was last down 0.57 per cent at $1.5766 after rising above $1.59, its highest since Nov. 23, shortly after the November inflation figures, which reinforced a view the Bank of England was unlikely to print more money to add stimulus to the economy.
"The markets were taking profit off that (high)," said Geoffrey Yu, currency strategist at UBS. "There's always large flows at this time of year, which given thinning markets ahead of the holiday break, tend to lead to whippy price action," said Paul Robson, currency strategist at RBS. "The overshooting CPI inflation, other things being equal,
you'd expect that to be positive for sterling." Sterling also fell against the single currency, with the euro last up 0.5 per cent at 84.84 pence, breaking through stops around 84.80 pence. Commerzbank analysts said in a note the single currency could next target its 200-day moving average at about 85.23. Adrian Schmidt, currency strategist at Lloyds TSB, said sterling's rally against the dollar was coming to a close. Reuters
still firmly on the side of the Taiwan dollar and not only against the dollar but also on key crosses such as Taiwan dollar/Indonesian rupiah, which has been on a strong uptrend since mid September. The won rose as foreign investors continued to buy South Korean shares, but it failed to strengthen past 1,140 per dollar. Importers such as energy companies bought dollars for settlements while exporters were not active, caping the won's gains. Foreign investors bought a net 545.0 billion won ($476 million) worth of stocks on the main exchange, helping the benchmark KOSPI hit a 37-month closing high. -Reuters
Swiss franc rises on debt woes ZURICH: The Swiss franc on Tuesday clung to most of the sharp gains made in the previous session as concerns about spiralling government debt in industrialised countries prompted investors to pile more money into the safe haven currency. The franc got additional support from the Swiss government's slightly more optimistic outlook for the economy. The State Secretariat for Economic Affairs still predicts a significant slowdown of the brisk recovery as the strong franc is hitting exports. But it raised its 2011 forecast to 1.5 per cent from 1.2 per cent predicted in September. The franc was little changed against the euro compared to the New York close, trading at 1.2989 per euro at 0747 GMT, with the euro stuck below the key 1.30- mark. The franc was up 0.2 per cent against the dollar at 0.9655 per dollar, after the Swissie had gained over 1.5 per cent on Monday. "The dollar-franc could be head back towards 0.9500, but maybe not ahead of the SNB on Thursday," Nyman said, referring to the Swiss National Bank's policy assessment. -Reuters
NZ dollar licking its wounds, at decade low on Aussie WELLINGTON/SYDNEY: The New Zealand dollar was slammed lower against the US dollar and hit a decade low against its Aussie neighbour on Tuesday as shockingly weak retail data further doused the chances of rate rises before the middle of next year. In contrast, the Aussie almost hit a month high following a surge in commodities and improved risk appetite and could flirt with parity again. The kiwi was testing support around $0.7490 after sliding half a cent from $0.7550 after data showed a 2.6 per cent fall in retail sales in October. "The retail numbers knocked the stuffing out of the currency and it's been licking its wounds ever since," said BNZ currency strategist Mike Jones. Some analysts questioned the integrity of the data, given the wild swing from September's gain of 1.7 per cent which was seen as consumers rushing to beat a rise in sales tax. A lift in house sales and prices in November after several months of decline did little to relieve the gloom. The weak outlook for New Zealand was further
emphasised by the government's half year economic and fiscal update, which trimmed growth forecasts. A rise in the projected deficit meant more borrowing in the near term because of weak domestic activity. The outlook for steady rates in NZ contrasts with a gradual tightening bias by the Reserve Bank of Australia (RBA), particularly after stunningly strong jobs figures out last week. The kiwi fell to a 10-year low against the Aussie of NZ$1.3284. Going into the offshore session and ahead of the Federal Reserve's final statement for the year, the kiwi is seen supported around $0.7440 with $0.7560 to cap any rise. The Aussie hovered around $0.9950, after touching $0.9985 in offshore trading, the highest since it last reached $1 on Nov. 12. Support is seen from $0.9834 with resistance beginning from the Nov. 12 high of $1.005. The market ignored Australian data which showed a 13.2 per cent drop in dwelling unit starts for Q3, which was seen as old news. -Reuters
by President Barack Obama and congressional Republicans, has prompted economists to upgrade their US growth forecasts, but it also pushed up bond yields for fear it will swell the US deficit. The dollar rose with yields last week but fell on Monday when Moody's warned the tax cuts could move it a step closer to cutting the US triple-A credit rating. Some strategists said fear of imminent US inflation and higher long-term rates was premature. The euro also hit a three-week high against the yen, shrugging off the weaker-than-forecast current conditions element of the German ZEW survey. But it fell after the S&P rating agency said Belgium's sovereign debt could be downgraded within six months, reminding investors of contagion risks from the euro-zone crisis. -Reuters
Yuan ends higher after strong mid-point SHANGHAI: China's yuan closed up against the dollar on Tuesday after the People's Bank of China set a higher mid-point in the wake of a nearly 1 per cent drop in the US dollar index, partly on concerns over a US tax cut deal. Dealers said the central bank may let the dollar's performance guide the Chinese currency's movements in the near term, but would confine trade to a small range as it wants to control heavy money inflows betting on yuan appreciation and the country's bullish asset markets. Spot yuan closed at 6.6551 versus the dollar, rising from Monday's close of 6.6670. It has risen 2.57 per cent since the PBOC announced a depegging in mid-June. Before trade began, the PBOC set the day's mid-point at 6.6531, which was higher than Monday's 6.6630. The mid-point is a level from which the yuan may rise or fall 0.5 per cent against the dollar on a given day. The yuan has largely
remained stable from midNovember when the currency hit its highest level since its landmark revaluation in July 2005. "Now is year-end. It seems the central bank has no intention of raising the yuan, so we are just doing some business to cater to our clients," said a dealer at a Chinese bank in Shanghai. Dealers said the yuan may not appreciate in the near term as China seeks to prevent hot money flows into the country, but expectations of an interest rate hike continued to linger. China is facing political pressure from the United States, as two US senators on Monday launched a last-ditch effort to pass legislation to pressure China to raise the value of its currency. Offshore, one-year NDFs were at 6.4880 bid late on Tuesday, from Monday's close of 6.4930, with implied yuan appreciation in a year's time rising slightly to 2.54 per cent from 2.47 per cent on Monday. -Reuters
Indian rupee near 1-wk high, dlr inflows low MUMBAI: The Indian rupee ended near one-week highs on Tuesday, tracking positive stocks and gains in the euro against the dollar. However, dollar inflows were subdued as foreign investors remained on the sidelines with the year-end approaching, limiting upside to the Indian unit. "There is overall lack of interest in the market. Not much inflows are there now," said Ashtosh Raina, head of forex trade at HDFC Bank. The partially convertible rupee ended at 44.945/955 per dollar, close to the day's high of 44.94, its strongest since Dec. 8, and above 45.125/135 at close on Monday. Raina expects the rupee to move in a 44.30-45.70 band for the rest of 2010. Foreign funds had dumped a net $842.75 million worth of shares last week and sold another $52.5 million on Monday. However, total foreign fund inflows so far in 2010 still stand at $28.4 billion, on top of the $17.5 billion purchased last year. Dealers will also watch for
the Federal Reserve's statement due at 1915 GMT. The one-year forward premium ended at 241.25 points, little changed from the previous 241.75 points, while the onemonth forward ended at 27.25 points from Monday's 28.75 points. One-month offshore non-deliverable forward contracts ended at 45.15, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange closed at 45.0875 and on the MCX-SX and United Stock Exchange closed at 45.0825, with the total traded volume on the three exchanges at a moderate $4.3 billion. -Reuters
Time 0:15 4:50 14:30 14:30 16:00 18:30 18:30 18:30 19:00 19:15 19:15
Source USD JPY GBP GBP GBP USD USD USD USD USD USD
Events Federal Funds Rate Tankan Manufacturing Index Claimant Count Change Average Earnings Index 3m/y CBI Realized Sales Core CPI m/m CPI m/m Empire State Manufacturing Index TIC Long-Term Purchases Capacity Utilization Rate Industrial Production m/m
Source
Events
GBP GBP EUR EUR EUR CAD USD
CPI y/y Core CPI y/y German ZEW Economic Sentiment Industrial Production m/m ZEW Economic Sentiment Leading Index m/m Core Retail Sales m/m
Forecast <0.25% 4 -2.9K 2.2% 38 0.1% 0.2% 4.7 82.3B 75.1% 0.4%
Previous <0.25% 8 -3.7K 2.0% 43 0.0% 0.2% -11.1 81.0B 74.8% 0.0%
Actual
Forecast
Previous
3.3% 2.7% 4.3 0.7% 15.5 0.3% 1.2%
3.1% 2.6% 3.8 1.4% 10.3 0.4% 0.7%
Previous Day 3.2% 2.7% 1.8 -0.7% 13.8 0.3% 0.8%
Currency Rates Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3377 1.3500 0.9629 0.9688 1.5754 1.5908 1.0081 1.0108 1.0066 1.0078 111.8100 112.2000 0.8489 0.8507 1.2885 1.3002 131.7200 132.6400 86.8100 86.8000 0.9560 0.9620 1399.1500 1408.4400 29.6800 29.9500
Bid 1.3375 0.9626 1.5750 1.0078 1.0060 111.7600 0.8485 1.2882 131.6600 86.7500 0.9553 1398.3500 29.6000
Low 1.3367 0.9597 1.5739 1.0052 1.0024 111.5900 0.8434 1.2869 131.3300 86.0900 0.9515 1392.6400 29.2400
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 14/12/2010 A USD GBP CAD EUR JPY O/N 0.23750 0.55500 0.98167 0.48625 SN 0.10000 1WK 0.25344 0.56313 1.02167 0.59375 0.10750 2WK 0.25625 0.56813 1.05167 0.63125 0.11125 1MO 0.26063 0.58125 1.09833 0.75000 0.12850 2MO 0.28063 0.63688 1.15000 0.83875 0.15000 3MO 0.30188 0.74750 1.23083 0.95313 0.18413 4MO 0.34750 0.83000 1.30000 1.02688 0.24288 5MO 0.40375 0.93750 1.36500 1.10875 0.30125 6MO 0.45619 1.04438 1.44000 1.19375 0.34750 7MO 0.51125 1.12188 1.50500 1.24250 0.40000 8MO 0.56438 1.20438 1.58083 1.29375 0.44688 9MO 0.61500 1.28750 1.65000 1.34500 0.49063 10MO 0.66625 1.36500 1.72083 1.39625 0.51688 11MO 0.72188 1.43250 1.80333 1.44250 0.53875 12MO 0.78375 1.50000 1.89000 1.48500 0.56813
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Jan 13 2011 Dec 21 2010 Jan 13 2011 Dec 14 2010 Dec 16 2010 Feb 01 2011 n/a
Mar 05 2009 Dec 19 2008 May 07 2009 Dec 16 2008 Mar 12 2009 Nov 02 2010 Sep 08 2010
Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia Bank of Canada
Current Interest Rate 0.50% 0.10% 1% 0.25% 0.25% 4.75% 1%
Division of National Bank of Pakistan (NBP) KARACHI, December 14,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.80 136.11 114.89 85.11 88.58 85.42 12.57 1.03 14.50 65.85 15.41 22.88 11.03 12.89 305.18 27.42 64.32 23.56 23.36 0.08 2.86
85.60 135.80 114.62 84.91 88.37 85.22 12.55 1.03 14.47 65.69 15.38 22.82 11.01 12.86 304.46 27.35 64.17 23.51 23.31 0.08 2.85
85.42 135.49 114.35 84.68 88.14 84.99 12.51 1.02 14.43 65.52 15.34 22.76 10.98 12.83 303.66 27.28 64.01 23.45 23.24 0.07 2.84
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for December 14, 2010
KASB
BMA
ELXIR
GSL
ICSL
12.50 12.70 12.90 12.95 13.12 13.30 13.35 13.50 13.67 13.95 14.05 14.10 14.15 14.15 14.20 14.20 14.22 14.25 14.60 14.70
11.80 12.40 12.70 12.95 13.13 13.25 13.32 13.45 13.65 14.00 14.22 14.25 14.27 14.30 14.38 14.05 14.05 14.25 14.55 14.60
12.00 12.45 12.75 12.90 13.15 13.22 13.32 13.50 13.65 13.85 14.17 14.22 14.25 14.25 14.32 14.15 14.06 14.29 14.50 14.70
12.00 12.50 12.70 12.95 13.15 13.20 13.38 13.52 13.68 13.90 14.26 14.28 14.30 14.32 14.34 14.25 14.10 14.35 14.60 14.90
11.80 12.50 12.75 12.90 13.10 13.15 13.30 13.45 13.65 13.90 14.15 14.20 14.25 14.30 14.35 13.95 14.20 14.25 14.55 14.75
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 11.90 12.35 12.70 12.85 13.12 13.20 13.35 13.50 13.65 13.85 14.10 14.10 14.20 14.22 14.24 14.16 14.14 14.25 14.55 14.70
12.00 12.48 12.75 12.92 13.13 13.22 13.34 13.49 13.66 13.91 14.16 14.19 14.24 14.26 14.31 14.13 14.13 14.27 14.56 14.73
Currencies Correlation EUR/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD
week month months months year years
-0.82 0.41 0.32 0.48 -0.05 -0.24
-0.45 0.91 0.61 0.66 0.89 0.88
-0.91 0.74 0.66 0.70 0.81 0.54
-0.92 0.92 0.74 0.67 0.71 0.73
0.74 0.84 0.57 0.49 0.31 0.44
USD/CAD USD/CHF
-0.96 0.84 0.22 0.54 -0.12 -0.20
0.92 0.29 -0.05 -0.60 0.03 0.28
0.55 -0.03 -0.59 -0.35 0.09 0.10
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)14/12/2010 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABPL
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN
1175
12.25
12.25
12.75
12.60
13.10
13.15
13.40
1340
13.65
13.45
13.95
13.60
14.10
13.70
14.20
JSBL
1200
12.50
12.35
12.85
12.75
13.25
13.30
13.55
1345
13.70
1345
13.95
13.70
14.20
14.00
14.50
ASPK
1170
12.20
12.10
12.60
12.60
13.10
13.10
13.35
1335
13.60
1345
13.95
13.60
14.10
13.70
14.20
C I P K 1185
12.35
11.95
12.45
12.30
12.80
13.10
13.35
1335
13.60
1345
13.95
13.60
14.10
13.70
14.20
DBPK
1180
12.30
12.05
12.55
12.50
13.00
12.95
13.20
1320
13.45
1335
13.85
13.40
13.90
13.60
14.10
FBPK
1155
12.05
12.05
12.55
12.60
13.10
13.25
13.50
1340
13.65
1350
14.00
13.70
14.20
13.85
14.35
FLAH
1185
12.35
12.15
12.65
12.60
13.10
13.20
13.45
1335
13.60
1345
13.95
13.60
14.10
13.70
14.20
HBPK
1165
12.15
12.15
12.65
12.65
13.15
13.15
13.40
1335
13.60
1345
13.95
13.60
14.10
13.70
14.20
HKBP
1160
12.10
11.80
12.30
12.55
13.05
13.10
13.35
1330
13.55
1340
13.90
13.60
14.10
13.65
14.15
N I PK 1175
12.25
12.50
13.00
12.90
13.40
13.35
13.60
1350
13.75
1360
14.10
13.65
14.15
13.70
14.20
HMBP 1180
12.30
12.00
12.50
12.80
13.30
13.25
13.50
1335
13.60
1350
14.00
13.60
14.10
13.70
14.20
SAMB 1185
12.35
12.25
12.75
12.65
13.15
13.20
13.45
1340
13.65
1345
13.95
13.60
14.10
13.75
14.25
MCBK 1190
12.40
12.30
12.80
12.50
13.00
13.15
13.40
1330
13.55
1340
13.90
13.50
14.00
13.75
14.25
NBPK
1175
12.25
12.00
12.50
12.60
13.10
13.10
13.35
1325
13.50
1340
13.90
13.60
14.10
13.70
14.20
SCPK
1165
12.15
12.10
12.60
12.50
13.00
13.00
13.25
1325
13.50
1345
13.95
13.50
14.00
13.70
14.20
U B P L 1165
12.15
12.00
12.50
12.55
13.05
13.10
13.35
1330
13.55
1345
13.95
13.60
14.10
13.70
14.20
AVE
12.26
12.11
12.61
12.59
13.09
13.15
13.40
1335
13.60
1345
13.95
13.60
14.10
13.71
14.21
1176
4 Wednesday, December 15, 2010
Pak China Friendship
The Financial Daily International Vol 4, Issue 126
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi
A model of friendly relations between two different ideological states
Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Remember Holbrooke Richard Holbrooke a longtime US diplomat who played a major role in ending Vietnam war signing of Dayton peace accords that ended the war in Bosnia in1995was hoping to end Afghan conflict but died this Monday leaving his mission unaccomplished. Over the four decades he emerged as a towering one-of-a-kind person who helped define American national security strategy. His death is likely to have a profound impact on the administration's efforts to restore peace in war ridden Afghanistan. He never eyed only military gains rather development assistance and diplomatic initiatives with the governments in Kabul and Islamabad. US President Barack Obama's words describe Holbrooke the best, he said, "a true giant of American foreign policy who has made America stronger, safer, and more respected. He was a truly unique figure who will be remembered for his tireless diplomacy, love of country, and pursuit of peace." His most prominent role was as a presidential wartime problem solver, for which he spent his energy unwaveringly. He had a flair for diplomatic improvisation and his hard-charging style not only yielded dramatic breakthroughs but also generated bitterness and enmity, even among his teammates. Holbrooke made the most significant achievement in 1995 when he brokered a deal among bitter rivals to end three years of bloody sectarian war in the former Yugoslavia in which nearly 100,000 people were killed. He took the dispute not as a principled ideologue but as a pragmatic mediator who kept his gaze constantly on what was possible. Some criticised him for interacting closely with the then-president of Yugoslavia, Slobodan Milosevic. But Holbrooke described the negotiations as unbelievably difficult. He had been a fierce critic of the international community calling it "the greatest collective failure of the West since the 1930s." The success eluded him in Afghanistan but his mission was far broader than just working on a peace deal: He was charged with revamping the entire civilian assistance effort, a critical component of the overall US counterinsurgency strategy. Although, he was optimistic about progress, he was often frustrated with President Hamid Karzai and his administration, as well as with many officials in the US government. Despite the many parallels between Afghanistan and Vietnam, Holbrooke remained convinced that two conflicts were not analogous and that a combination of the right strategy and resources would be required to end war in Afghanistan. According to former president George Bush he was the most persistent advocate he had ever run into. And former secretary of state Henry Kissinger once said, "If Richard calls you and asks you for something, just say yes. If you say no, you'll eventually get to yes, but the journey will be very painful." His words must be remembered by all. He had said, "We fought bravely under very difficult conditions. But success was not achievable. Those who advocated more escalation or something called 'staying the course' were advocating something that would have led only to a greater and more costly disaster afterwards."
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.
Javed Akhtar
T
he Sino-Pakistan relationship presents a model for friendly relations between two opposing ideological settings and markedly different economic systems during and after the Cold War in bipolar, multipolar, and uni-polar world. While commenting on decades' old Sino-Pak diplomatic ties, diplomatic sources said here Tuesday, it was because of this close fraternal understanding that bilateral relations were promoted between the two countries irrespective of domestic political regime changes and issues ever since Pakistan recognised the Peoples Republic of China on January 4, 1950. Pakistan was the first country that had recognised the PRC as the sole legitimate 'government' of the people of China by dismissing the possibility of according this status to the Republic of China, known as Taiwan or Formosa under General Chiang Kaishek. Pakistan's One-China policy was based on unforeseeable wisdom. As diplomatic relations were established between the two countries on May 12, 1951, high level lateral exchanges became a regular feature of mutual contact between the two countries. In recent times, especially by the 1990s, there has occurred a much stronger momentum for high level exchanges. By the same token, President Asif Ali Zardari visited China six times during the last couple of years to renovate the historical ties, laying greater focus on the economic partnership. Besides bilateral level, both countries have been enhancing cooperation through multilateral forms; namely the Shanghai Cooperation Organization (SCO) and the ASEAN-Regional Forum (ARF). The relationship has been described by Hu Jintao as "higher than the moun-
tains and deeper than oceans". Favourable relations with China have been a pillar of Pakistan's foreign policy. China strongly supported Pakistan's opposition to Soviet Union involvement in Afghanistan and was perceived by Pakistan as a regional counterweight to India. China and Pakistan also share a close military relation, with China supplying a range of modern armaments to the Pakistani defence forces. China supports Pakistan's stance on Kashmir while Pakistan supports China on the issues of Xinjiang, Tibet, and
â&#x20AC;&#x153;
A close identity of views and mutuality of interest remain the hallmark of bilateral ties. Pakistan has always supported China on all issues of importance to the latter, especially those related to the question of China's sovereignty e.g. Taiwan, Xinjiang, and Tibet and other sensitive issues such as human rights. The Chinese leadership has always appreciated Pakistan's steadfast support on issues of their concern. They are also generous in acknowledging the significant role of Pakistan in the early 1970s, which enabled China to break its isolation from the West and the US, when
The relationship has been described by Hu Jintao as "higher than the mountains and deeper than oceans". Favourable relations with China have been a pillar of Pakistan's foreign policy.
Taiwan. Lately, military cooperation has deepened with joint projects producing armaments ranging from fighter jets to guided missile frigates. Chinese cooperation with Pakistan has reached high economic points with substantial investment from China in Pakistani infrastructural expansion, including the noted project in the Pakistani deep water port in Gwadar. Both countries have an ongoing free trade agreement. Pakistan has served as China's main bridge between Muslim countries. Pakistan had earlier played a leading role in bridging the communication gap between China and the West, through Henry Kissinger's secret visit before the 1972 Nixon visit to China. The long-standing ties of friendship between the two countries are underpinned by mutual trust and confidence.
Henry Kissinger secretly visited Beijing. Pakistan also helped China become a member for the United Nations and has also been instrumental in providing excellent relations of China with the Muslim world. Chinese leaders have also supported Pakistan through thick and thin. The Kashmir issue has always been supported, while in 2008 during PakistanIndian tensions, it promised unlimited financial and military aid. China has been a steady source of military equipment to the Pakistani Army and also has helped Pakistan to set-up mass weapons production factories and also has given technology assistance and modernized facilities. In the last 20 years, the countries are involved in the joint venture of several projects to enhance military and weaponry systems, which includes JF-
17 Thunder fighter aircraft, K-8 Karakorum advance training aircraft, space technology, AWACS, Al-Khalid tank, Babur cruise missile. The armies have a schedule for organizing joint military exercises. China is the largest investor in the Gwadar Deep Sea Port, which is strategically located at the mouth of the Strait of Hormuz. China has offered to Pakistan military aid in order to fight against the terrorist activities on their (Pakistan's) soil. Beijing will further cooperate with Islamabad in dealing firmly with terrorists. After the aid the Islamic Republic of Pakistan will also purchase military equipment from China to fight terror to which China have agreed. This will strengthen cooperation between two Armed Forces. In the 1990s, China designed and supplied the heavy water Khusab reactor, which plays a key role in Pakistan's production of plutonium. A subsidiary of the China National Nuclear Corporation also contributed in Pakistan's efforts to expand its uranium enrichment capabilities by providing 5,000 custom made ring magnets, which are a key component of the bearings that facilitate the high-speed rotation of centrifuges. China also provided technical and material support in the completion of the Chasma Nuclear Power Reactor and plutonium reprocessing facility, which was built in the mid 1990s. China has also launched Pakistan's first satellite to orbit in 1990 because Pakistan had no Spaceport. However, Pakistan does have a space program. Pakistan's Space and Upper Atmosphere Research Commission (SUPARCO) is Pakistan's national space agency and was established in 1961. APP feature service
Blackleg back on the radar C
anola could reach another record acreage in 2011, likely meaning tighter rotations on some fields. If we are to sustain canola yields on these acres at profitable levels, growers will have to pay more attention to disease management particularly blackleg. Good returns from canola compared to other crops have encouraged many growers to tighten their canola rotations. This will encourage the build up of blackleg inoculum and could select for blackleg races that are more virulent against current canola resistance genes. "Genetic resistance is not permanent. It is at risk of being lost if better management practices are not adopted," says Derwyn Hammond, Canola Council of Canada agronomy specialist. "No one would like to return to a situation where resistant varieties are unavailable and blackleg can wipe out crops, but that could happen if selection pressure from tight rotations outpaces breeding efforts." For long-term sustainability, growing canola one year in four on a field is still the best practice. Even where disease issues are less severe and genetic resistance is still working reasonably well, trends in yield and economic returns suggest canola should not be grown more often than one year in three. "When growers feel they must tighten rotations, we encourage them to use blackleg management tools and knowledge to make the best of that decision," Hammond says. Here are the tools: Grow varieties with disease resistance. At a minimum, growers on tight rotations should choose varieties with an "R" or "MR" rating for blackleg. A rotation study conducted at Agriculture and Agri-Food Canada
(AAFC) centres in Melfort and Scott, Saskatchewan from 2000-06 found that blackleg severity with canola in two-year and three-year rotations dropped significantly when growing an "R" rated hybrid compared to a susceptible variety. Rotate varieties. Many genes are responsible for blackleg resistance in canola and at least 16 described virulent blackleg races are currently found on the Prairies. Growers don't know which varieties have which resistance genes, but rotating varieties will likely bring a mix of resistance genes to the field over time, Hammond says. This reduces the risk of selecting for blackleg races that can overcome genetic resistance in any one variety. Q2, for example, went from an "R" rating when it was originally launched to an "MS" or "S" rating in some areas today because it only has one gene for blackleg resistance. Blackleg races have overcome that resistance gene in many regions. Scout for disease. Look for blackleg early in the season and just prior to crop maturity. Infection prior to the four-leaf stage can result in serious yield loss, but blackleg can be difficult to identify on such small plants. Blackleg infection may occur on cotyledons, leaves, stems and pods. Leaf lesions are dirty white, round to irregularly shaped, and usually dotted with numerous small, black pycnidia (pepper-like spore-producing structures.) Stem lesions may be up to several inches in length, and are usually white or grey with a dark border. Numerous pycnidia form in the centre of the lesion. Lesions or cankers at the base of the stem may appear as a general blackening, with stem tissue constricted or pinched at the soil surface.
These basal cankers are what cause significant yield loss. They are easy to see late in the season, which is why scouting just prior to crop maturity is recommended. By observing the level of damage at this stage, growers can decide on a rotation and blackleg management plan for that field in following years. Control volunteers. Canola volunteers and related weed species such as wild mustard can host blackleg and other canola diseases in non canola years. If not controlled, these volunteers and weeds act as a disease bridge, reducing the effectiveness of rotation and variety resistance for disease management. Use certified seed. With certified seed, each canola plant should have the same genes and be equally resistant. With bin run seed from hybrids, this second generation seed may not have inherited the same mix of resistance genes. Seed treatments can control seed-borne blackleg infection, but do not protect seedlings and plants from later infection. Weigh the benefit of fungicide. Tilt, Quadris and Headline are registered to control blackleg. They only have protectant activity and little or no eradicant activity, so ideally fungicides should be applied before blackleg symptoms are present. This requires some anticipation of the disease, so it probably won't be a common practice until variety resistance starts to break down on certain fields and those growers come to expect an economic loss from blackleg on a regular basis. In the AAFC rotation study from Melfort and Scott, generally there was little or no reduction in blackleg severity or improved yield when applying a fungicide on "R" rated varieties. For the susceptible variety (Westar), fungicide did reduce disease severity and
provided a 14% yield increase, on average. Additional factors in blackleg management Consider your climate Blackleg incidence and severity tend to be higher in regions that are humid and warm with frequent rain showers. Therefore tight rotations in areas with conditions conducive to disease development will tend to be less sustainable, from a blackleg management perspective, than tight rotations in area that are less humid with lower rainfall. Blackleg spreads by wind While most blackleg infection comes from canola residue within the same field, blackleg ascospores can be dispersed by wind. Blackleg spores do not carry as far as sclerotinia spores, but canola growing in fields that have never had canola can still be infected from infested fields immediately adjacent. In that case, infection tends to be highest in canola plants closest to this infested field. No solid benefit from tillage or burning A recently published study from AAFC in Melfort, Saskatchewan, looked at tillage and burning to manage disease. Neither measure worked to reduce blackleg severity in canola. "Differences in disease severity among tillage treatments were minimal," the report concluded. As for burning, the report uses these words to explain the lack of consistent results: "It may be that when the crop residue is burnt, the fire quickly consumes the easily ignitable residue but does not burn uniformly over the field or is not hot enough to destroy ... the thick woody basal canola stalks of previous crops that harbour the blackleg pathogen." Courtesy: Canola Council Canada
Bank regulators to tackle capital standards U
S banking regulators meet on Tuesday to take the first steps toward implementing higher capital requirements set out in the Dodd-Frank financial overhaul law. The Federal Deposit Insurance Corp (FDIC) board will consider a proposal on how to set minimum capital requirements for banks under a provision in the new law that was added by Sen. Susan Collins of Maine with the strong backing of FDIC Chairman Sheila Bair. Many lawmakers and regulators came out of the 2007-2009 financial crisis arguing banks did not hold enough high quality capital to deal with the shock to financial system and this contributed to the government having to bail them out.
Banks have voluntarily been building capital levels in the aftermath of the crisis so it is unclear how many would have to bolster their capital. The proposed rules, part of a busy week by regulators toward implementing Dodd-Frank, may serve mostly to stop capital levels getting too low in the future. Collins' provision would set a "floor" for capital and leverage requirements. Bank holding companies would have to meet the same minimum requirements that govern their banking units that are insured and regulated by the FDIC. In the past, capital requirements for holding companies have been less stringent than those for insured depositary institutions. These minimum requirements
would also apply to any nonbank institutions that the government deems to be important to the financial system and therefore subject to supervision by the Federal Reserve. The rule being considered Tuesday will be the first step in putting the Collins amendment into practice and it will be jointly issued by the FDIC, the Office of the Comptroller of the Currency and the Fed. Bair said earlier this year she was concerned bank holding companies were relying on their insured depository institutions as a source of capital strength when the opposite should have been the case. "If, in the future, bank holding companies are to become sources of financial stability for insured banks, then they cannot
operate under consolidated capital requirements that are numerically lower and qualitatively less stringent than those applying to insured banks," she said in a May 7 letter supporting Collins' proposal. A question surrounding the Collins amendment is how it will mesh with the new international capital standards, known as Basel III, which were endorsed in November by leaders from the Group of 20 developed and emerging nations. The details of that agreement are still being hammered out and US regulators have yet to consider how to implement it. MF Global financial services analyst Jaret Seiberg said the rule being considered by the FDIC on Tuesday will likely seek to establish a standard
based on the existing Basel I and Basel II agreements. "This matters because the proposal may actually require banks to operate separate capital systems indefinitely, which is a compliance cost as well as a distraction," Seiberg wrote in a research note. Regulators have until January 2012 to issue final rules implementing all aspects of the Collins amendment. Also on Tuesday, the FDIC will consider a proposal on how market risk surrounding such things as securitized products should impact capital standards. The board is also scheduled to vote on a final rule setting a much higher long-term target for the minimum level of its insurance fund as well as its budget for the upcoming year.-Reuters
5
Wednesday, December 15, 2010
South East Asian stocks
Energy shares push Manila up; others flat
Europe shares edge up on recovery hopes; FOMC eyed KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,596.69 11,672.64 75.95 0.65 142.33
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,618.00 3,629.81 11.81 0.33 7.23
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,915.31 2,925.72 10.41 0.36 0.35
Major Gainers
Symbol ULEVER RMPL SIEM BATA NESTLE
Close
Change
4,262.54 2,080.00 1,334.54 661.72 2,450.57
192.55 75.00 45.27 31.36 25.05
Major Losers
Symbol
Close
Change
UPFL 1,057.22 WYETH 1,085.00 PECO 275.00 EXIDE 181.01 MFFL 72.40
-32.77 -15 -7 -5.84 -3.6
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA JSCL NICL NBP DSFL
13.40 11.82 2.14 71.32 3.19
12.95 11.63 7.51 6.87 6.83
Active Issues Plus Minus Unchanged
211 186 18
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
Offshore bulls add to onshore gains at KSE Nawaz Ali KARACHI: On Tuesday Karachi Stock Exchange (KSE) ended higher due to buying by the offshore investors mainly in energy and banking stocks. The benchmark KSE 100Index gained 75 points - 0.65 per cent- to close at 11,672 points. KSE 30-Index rose by 67 points and KSE All Share Index grew by 47 points to close at 11,215 and 8,119
points respectively. "Foreign fund managers remained highly active in the local bourse", said Samar Iqbal, equity dealer at Topline Securities. According to NCCPL data foreigners net-bought shares worth $19.51 million on Tuesday including an off-market net-buy of Unilever shares for $19.3 million. Local investors participated less as they preferred to book profits on high levels ahead of long weekend, Samar added.
HK, China shares up; turnover remains low HONG KONG/SHANGHAI: Hong Kong and Shanghai stocks edged higher on Tuesday, helped by energy counters although light turnover suggested that funds had begun closing their books for the year and inflation in China kept investors cautious heading into 2011. The Shanghai Composite Index ended up 0.14 per cent at 2,927.08. The benchmark had surged on Monday after China's central bank skipped an expected interest rate rise, opting instead to further increase bank reserve requirements, aiming to rein in inflation that hit a 28-month high in November. Hong Kong's Hang Seng Index rose 0.49 per cent to close at 23,431.19, with energy stocks tracking commodity prices higher on the back of a weaker US dollar, and renewed optimism over the global economy. Shanghai's key stock index rose 0.1 per cent.
"While there was short-term clarity after the rise in reserve requirements, investors are on guard against further tightening measures," said Guotai Junan Securities analyst Xu Yinhui in Shanghai. China's key money market rate, the main barometer of short-term liquidity supply, jumped early on Tuesday, suggesting banks were reluctant to lend in anticipation of another rise in reserve requirements. Economists polled by Reuters forecast that China would raise rates before the end of 2010 and twice again in 2011 as part of a campaign to control inflation. At the same, concern over hot money inflows was expected to limit aggressive rate increase. "If there were no external factors, China would definitely have to increase interest rates as quickly as possible," said Chen Dongqi, a See # 19 Page 11
Nikkei at 7-mth top as China data helps TOKYO: Japan's Nikkei average edged up 0.2 per cent Tuesday, posting a sevenmonth closing high for a second day as upbeat Chinese economic data encouraged buying of commodity stocks and construction equipment makers. Buying by overseas investors, who picked up stocks in the brokerage sector, also fuelled the rise. Foreign funds have been aggressively buying lagging Tokyo shares, pushing the Nikkei up more than 12 per cent over the past six weeks. "We're still seeing foreign buying and it will probably last for another few weeks," said Tsuyoshi Kawata, a senior strategist at Nikko Cordial Securities, adding that volume may fall a bit around Christmas when foreign investors will likely be away for the holidays.
He said the Nikkei may continue its gains, but resistance would keep it pegged at around 10,500 by the end of the year. Analysts believe the government is poised to cut Japan's corporate tax rate by 5 per centage points as demanded by business leaders to achieve its growth strategy, and such a move could help boost the competitiveness of Japanese companies. "We respect Prime Minister Kan's decision to reduce the effective corporate tax rate by 5 per cent amid a severe fiscal situation. We see this as the first step in the government's growth strategy that aims to reduce the effective corporate tax rate to those of other developed nations," Hiromasa Yonekura, chairman of business lobby Nippon Keidanren, said in a statement. See # 20 Page 11
Bulls were there since the start of the session as market opened with a gain of 12 points. Positive numbers then kept on increasing as investors continued to take positions mainly in oil, banking and fertiliser stocks especially in Mansha group stocks on hopes of good corporate results. Turnover, however, was led by 2nd tier stocks as according to an expert investors went after those scrips which underperformed in the recent rally. Therefore index crossed
Trading in 29 cos stays frozen KARACHI: The Karachi Stock Exchange (KSE) has extended the suspension period of 29 companies for another 60 days (effective from December 14, 2010) on the directives of Security and Exchange Commission of Pakistan (SECP). According to KSE, the action has been taken to protect the interest of trade and public. They are First Interfund Modaraba, Rashid Textile Mills Ltd, Siftaq international Ltd, Itti Textiles Ltd, Fazal Vegetable Ghee Ltd, Pak Ghee Industries, Sadoon Textiles Mills, Extraction Ltd, Valika Woolen Mills, Medi Glass Ltd, Universal Oil & Vegetable Ghee Mills Ltd, Mineral Grinding Mills, Abson Industries, Hala Spinning Mills, Saif Nadeem Kawasaki Motors, Prudential Stocks Fund, Quality Steel Works, English Leasing, First Dadabhoy Modaraba, Sunshine Cotton Mills, Taxila Engineering, Qayyum Spinning, Hakkim Textile Mills, Suraj Ghee Industries, McDonald Layton & Co, Hallmark Insurance, Ittefaq Insurance Prudential Discount & Guarantee House and Kashmir Polytex Ltd.-APP
annual 7.48 per cent in November -- the lowest rise in a year. "The headline number is in line with expectation and reaffirms that RBI will adopt a wait and watch stance on Dec. 16," said Anubhuti Sahay, economist at Standard Chartered Bank in Mumbai, referring to the Reserve Bank of India. Top motorcycle maker Hero Honda bucked the trend and skidded 3.3 per cent on concerns royalty payments to the firm's Japanese collaborator may rise sharply.
lion shares traded during the day which is 39.8 million shares less as compared to a turnover of 182.1 million shares a day earlier. Lotte Pakistan stood as the volume leader with 12.95 million shares followed by Jehangir Siddiqui with 11.63 million shares and Nimir Ind Chemical with 7.51 million shares. Out of total 415 active issues 211 advanced and 186 declined while 18 remained unchanged.
Rising energy stocks lift FTSE LONDON: Gains in energy stocks offset falling miners, leaving Britain's top share index almost level on Tuesday, with BP the top riser on vague market talk of bid interest from Royal Dutch Shell. By 1156 GMT the FTSE 100 was 1.15 points higher at 5,861.90 in light trade, after rising 0.8 per cent on Monday to its highest close since Nov. 9. "We saw some good gains yesterday but investors seem content with the index hovering near its year-high (5,902.11) and little in the way of drivers to push us on today," Jimmy Yates, head of equities at CMC Markets, said. BP rose 2.3 per cent, with traders citing talk of potential bid interest from Royal Dutch Shell. Both companies chose not to comment. The oil major was also helped by a bullish note from Credit Suisse, which raised its forecasts for oil prices in 2011 and reiterated that BP is its top pick in the sector. BP said it had agreed to sell a portfolio of oil and gas assets in
Pakistan for $775 million, higher than analyst estimates, as it raises cash to pay for the Gulf of Mexico oil spill. Energy shares were the main support on London's blue-chip index, aided by a rise in crude prices that was sparked by data on Monday highlighting China's continued growth. Bunzl climbed 1.4 per cent after Numis raised the stock to "buy" from "add", after the packaging distributor reported full-year results. Traders kept money on the sidelines ahead of a US Federal Reserve Open Market Committee announcement. Analysts expect the Fed to remain in a holding pattern as officials evaluate the recent launch of a second round of quantitative easing. "Any indication that there is going to be more caution from the Fed could send a little wave through equity markets, but I think this is unlikely and everybody's hoping there will be no shocks between now and next week," said Giles Watts, head of equities at City Index.-Reuters
ANNOUNCEMENTS Company Khyber Tobacco
Period Yearly
Div/Bon/Right PAT (Rs in mn) 36.323
EPS(Rs) 30.22
Wall Street up on retail sales; Best Buy weighs NEW YORK: US stocks rose on Tuesday as strong November retail sales boosted optimism about consumer spending, even though weak sales from electronics bellwether Best Buy showed some specialty retailers could be struggling. Best Buy Co Inc, a top electronics retailer, lost 14 per cent, denting the lift from the positive consumer spending data. While major stock indexes were up, the S&P retail index dropped 0.45 per cent. Sales at US retailers rose more than expected in November, up for a fifth straight month and pointing to a healthier economy. Consumer spending accounts for roughly two-thirds of the US economy. The jump in retail sales is, "from a general perspective, indicative of an economy that is beginning to recover some strength," said Janna Sampson, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. The Dow Jones industrial average gained 61.53 points, or 0.54 per cent, to 11,490.09. The Standard & Poor's 500 rose 4.26 points, or 0.34 per cent, to 1,244.72. The Nasdaq Composite added 8.84 points, or 0.34 per cent, to 2,633.75. The Federal Reserve's monetary policy committee meets later Tuesday, and the group's statement is expected to leave interest rates unchanged and evaluate the central bank's recent massive bond-buying program to support the economy. The Fed may revise its economic outlook to reflect stronger growth after the White House and congressional Republicans agreed to extend tax breaks and provide a payroll tax cut, effectively delivering fresh stimulus. See # 18 Page 11
VHMEL to buy more into Pioneer Cement KARACHI: Vision Holding Middle East Ltd (VHMEL), a company incorporated in British Virgin Islands has announced to acquire 57.773 million shares or 25.93 per cent stake of Pioneer Cement Ltd. According to a notice issued to KSE on Tuesday, the Pioneer Cement said that the Foundation Securities, local agent of VHMEL has sent an offer letter to the company on December 13, 2010. It may be noted that VHMEL had already purchased 49.084 million shares --Rs10 each-- or 22.03 per cent shares of the issued capital of Pioneer Cement at Rs 22 per share on June 18, 2009.-APP
Indian shares rise for 3rd day MUMBAI: Sensex overcame choppy early trade and notched gains for a third day on Tuesday, after inflation eased as expected and reinforced hopes for steady interest rates when the central bank reviews policy this week. Volume was, however, relatively light underlining investor caution ahead of the year end when foreign funds lock in gains. Lenders such as market leader State Bank of India and rival ICICI Bank were among those that climbed after the wholesale price index rose an
10,700 points levels and touched the highest level of the day at 11,719 points (+ve 122 points). However, investors --mainly from the local front-- booked profits at higher levels ahead of a long weekend which reduced the index gains and it closed the day below 10,700 points. It should be noted that the exchange will remain closed on Thursday and Friday on account of Ashura. Volumes, however, remained on the lower side as 142.3 mil-
US stocks late-morning
The Economic Times reported on Tuesday the founder of Hero Group, the Munjal family, is set to buy Honda Motor's 26 per cent stake in joint venture for about $1 billion -- or half the current market value. Traders said any deal struck at a deep discount ran the risk of a possible hefty increase in royalty payments as Hero Honda would continue to use the Japanese company's technology even after the break up of the joint venture. The 30-share BSE index ended up 0.55 per cent See # 21 Page 11
Dhiyan
NOTHING SPECIAL FOR TODAY Naeem Rafi, CEO Rafi Securities Bull-run will continue as long as foreigners are on the buying side therefore index can touch 12,200 points level in the short-term. However, market may also witness small technical corrections. Investors are advised to go for those companies that are likely to post good corporate results at the end of December. Banking, fertiliser stocks and dividend-yielders are also the pick-me-ups of the day. Market would be dull today as Moharram holidays are almost here.
Faran Rizvi, Technical Analyst Invisor Securities Market is trading near its major resistance trend-line and we are foreseeing some range-bound activities in days to come with index moving between 11,755 and 11,613 points. Therefore we recommend day-traders to book profits in overbought scripts and buy those stocks which haven't performed in the recent rally like banking. We still suggest buying with stop loss. Market would be lackluster today.
6
Wednesday, December 15, 2010
Market 142,326,401
Value
4,393,178,343
Trades
69,458
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
211 186 18 415
All Share Index
11,672.64 11,719.50 11,596.69 h75.95
Current High Low Change
KSE 30 Index
8,119.09 8,149.82 8,071.95 h47.14
Current High Low Change
KMI 30 Index Current High Low Change
11,215.99 11,268.48 11,148.40 h67.59
18,357.18 18,439.62 18,316.83 h40.35
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,496.16 Turnover 4,813,834 P/E (x) 10.96 Company
KSE 100 Index
Symbols
Volume
PE
High Low 1,515.04 1,490.21 Total cos Defaulter cos P/BV (x) ROE (%) 3.57 32.54
Open
High
Low
691 5.64 324.88 853 6.74 121.61 3921 - 11.21 735 16.20 119.51 800 3.82 259.31 Oil & Gas Development XD 43009 11.26 165.72 Pak Petroleum 11950 8.47 207.28 Pak Oilfields 2365 6.80 288.17 Pak Refinery Limited 350 - 102.23 PSO 1715 4.81 283.54 Shell Gas LPG 226 - 35.90 Shell Pakistan 685 10.28 199.76
327.49 122.59 11.40 119.98 263.00 168.45 209.45 290.55 103.65 285.18 37.30 202.80
325.30 120.00 11.20 119.50 256.65 164.77 207.28 287.21 101.05 283.01 36.85 199.00
Attock Petroleum Attock Refinery BYCO Petroleum Mari Gas Company National Refinery
Close Chg 325.86 120.16 11.28 119.53 258.01 166.36 208.27 288.04 101.99 284.07 37.01 200.40
0.98 -1.45 0.07 0.02 -1.30 0.64 0.99 -0.13 -0.24 0.53 1.11 0.64
Close Change 1,500.12 3.96 Listed cap Market cap 65,194.15 mn 1,165,984.16 mn Payout (%) Div Yield (%) 55.94 5.10 Last 60 days High Low
Volume 126074 1005933 348734 18841 133922 947773 465806 1496511 86877 514868 6285 29785
374.20 137.20 12.49 128.90 275.40 170.99 214.10 293.80 106.34 292.15 40.28 204.40
2009 Div BR (%) (%)
287.99 250 78.51 10.00 106.00 32.17 100B 189.08 125 142.05 82.5 168.70 130 20B 230.05 180 55.00 258.00 50 29.05 182.05 330 -
% Change 0.26 5-Day High 1,511.75 5-Day Low 1,496.16 2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
20 20B -
CHEMICALS
Open 743.87 Turnover 32,690 P/E (x) 5.60 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
High Low 753.70 739.86 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 25.53
Close 743.50 Listed cap 3,242.17 mn Payout (%) 11.08
Change -0.37 Market cap 12,790.88 mn Div Yield (%) 1.98
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.33 37.38
73.50 34.00
74.00 35.39
73.00 34.00
73.25 -0.25 34.39 0.39
11661 21029
77.77 41.00
60.05 33.06
Company
Paid up Cap(mn)
Agritech Limited Bawany Air BOC (Pak) Clariant Pak Dawood Hercules Descon Chemical Descon Oxychem Ltd. Dewan Salman Dynea Pak Engro Corp. Ltd XD Engro Polymer Fatima Fertilizer Fauji Fertilizer Fauji Fert.Bin Qasim XD Gatron Ind Ghani Gases Ltd ICI Pakistan Ittehad Chemical Lotte Pakistan Mandviwala Nimir Ind Chemical Pak Gum Shaffi Chemical Sitara Chem Ind Sitara Peroxide Wah-Noble
3924 68 250 273 1203 1996 1020 3663 94 3277 6635 22000 6785 9341 384 725 1388 360 15142 74 1106 42 120 214 551 90
PE
Open
High
Low
8.60 75.83 11.61 6.01 7.26 10.41 8.45 6.58 2.39 8.71 7.85 11.27 4.79 10.19 14.62 6.76
23.79 8.64 84.46 157.47 173.61 3.67 7.75 3.54 10.95 185.35 14.28 9.85 117.55 35.37 44.11 11.50 139.01 30.21 13.61 2.21 2.57 20.72 2.79 124.08 13.34 35.06
24.45 9.54 85.10 157.85 176.50 3.74 7.97 3.84 10.90 190.00 14.60 9.96 117.99 35.50 45.42 11.79 141.91 30.21 13.83 2.45 2.60 19.72 2.95 125.00 13.56 35.87
22.62 8.90 84.50 156.15 172.00 3.14 7.65 3.11 10.50 185.15 14.25 9.75 116.50 34.75 41.91 11.50 139.00 30.21 13.32 2.02 2.10 19.71 2.52 121.50 13.40 35.06
Close Chg 23.74 9.10 84.55 157.15 175.00 3.20 7.66 3.19 10.90 189.54 14.38 9.80 116.57 34.89 44.46 11.50 139.26 30.21 13.40 2.30 2.14 19.72 2.79 124.26 13.45 35.15
-0.05 0.46 0.09 -0.32 1.39 -0.47 -0.09 -0.35 -0.05 4.19 0.10 -0.05 -0.98 -0.48 0.35 0.00 0.25 0.00 -0.21 0.09 -0.43 -1.00 0.00 0.18 0.11 0.09
Close 1,324.10 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 30017 6007 610 9581 32865 444189 94188 6826374 1900 2480887 346406 159640 469220 1754844 3014 26202 580753 2003 12945326 212943 7510192 156 1921 2440 204932 4047
Change -1.75 Market cap 291,517.84 mn Div Yield (%) 5.91
24.89 13.99 87.99 164.89 185.00 3.74 8.48 4.24 13.79 190.00 15.20 11.74 118.25 36.92 46.59 13.85 141.91 30.54 13.83 2.75 2.74 22.29 3.40 139.40 14.69 46.25
2009 Div BR (%) (%)
% Change -0.13 5-Day High 1,325.85 5-Day Low 1,302.99 2010 Div BR (%) (%)
20.26 7.73 5 68.10 90 15 149.72 125 163.51 40 10B 40 1.90 3.41 1.28 9.15 15 15 171.00 6010B 40R 40 11.61 - 27.5R 9.21 104.21 131.5 10B 95 26.59 40 - 17.5 38.00 20 8.20 116.00 80 55 21.00 15 5 8.17 5 0.80 1.30 18.40 10 1.80 101.00 75 25 7.67 32.00 50 50
10R 5B -
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,182.02 Turnover 18,604 P/E (x) 5.97 Company
Paid up Cap(mn)
Century Paper Pak Paper Product Security Paper
707 50 411
PE 8.75 7.05
Open 16.37 45.83 45.74
High 16.70 46.95 45.80
High Low 1,193.26 1,164.04 Total cos Defaulter cos P/BV (x) ROE (%) 0.45 7.47 Low 16.23 45.52 44.81
Close Chg 16.27 -0.10 45.52 -0.31 45.70 -0.04
Close 1,178.33 Listed cap 1,186.83 mn Payout (%) 25.28
Last 60 days High Low
Volume 17600 501 503
Change -3.68 Market cap 3,265.92 mn Div Yield (%) 4.24
21.74 62.85 46.00
15.28 38.61 38.00
% Change -0.31 5-Day High 1,182.02 5-Day Low 1,151.51
2009 Div BR (%) (%)
2010 Div BR (%) (%)
- 425R 20 50 -
2533.33B 50 -
Open 1,148.21 Turnover 985,408 P/E (x) 4.17 Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
PE
Open
144 5.46 72.01 101 4.78 161.75 247 15.18 17.00 626 8.48 112.97 890 2.35 598 18.97 22.50 450 3.23 4.60 200 6.75 4.47 1428 - 11.27 786 5.70 250.83 823 10.66 69.50 150 3.64 19.10
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
Open
High
Low
565 3.95 675 555 9.02 1199 10.65 785 10.23
24.92 2.92 14.50 51.08 9.00
25.29 2.99 14.77 52.00 9.35
24.82 2.82 14.43 51.00 8.76
Close Chg 25.27 2.98 14.43 51.12 9.00
0.35 0.06 -0.07 0.04 0.00
Close 983.68 Listed cap 3,596.11 mn Payout (%) 30.91
Change 5.51 Market cap 9,488.27 mn Div Yield (%) 9.95
Last 60 days High Low
Volume 6854 35601 2901 123478 747
26.23 3.39 16.75 53.99 10.80
23.75 1.65 12.25 44.00 8.00
2009 Div BR (%) (%) 10
30B -
% Change 0.56 5-Day High 983.68 5-Day Low 978.17 2010 Div BR (%) (%) 30 40 7.5
High
High Low 1,155.54 1,129.85 Total cos Defaulter cos P/BV (x) ROE (%) 1.06 25.35 Low
Close Chg
Company
Paid up Cap(mn)
Adam Sugar AL-Noor Sugar Bawany Sugar Chashma Sugar Clover Pakistan Colony Sugar Mills Crescent Sugar Dewan Sugar Faran Sugar Habib Sugar J D W Sugar Kohinoor Sugar Mehran Sugar Mirpurkhas SugarSPOT Mirza Sugar Mithchells Fruit Mubarik Daries National Foods Noon Pakistan Pangrio Sugar Premier Sugar Punjab Oil XD Shahmurad Sugar Shakarganj Mills UniLever Pakistan Wazir Ali
58 186 87 287 94 990 214 365 217 600 490 109 143 70 141 50 28 414 48 109 38 38 211 695 665 80
PE
Close 1,138.90 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -9.31 Market cap 41,727.92 mn Div Yield (%) 4.89
Last 60 days High Low
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Buxly Paints Cherat Cement Dadabhoy Cement Dadex Eternit Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Safe Mix Concrete Thatta Cement
PE
Open
High
Low
1828 866 6.64 858 182 3257 14 956 25.80 982 15.31 108 3574 3651 129.42 350 3.96 6933 15.97 502 3.76 1760 2319 32 1288 13126 3234 6.81 5261 1.45 541 3.66 2228 200 798 455.00
3.68 63.00 1.96 19.60 22.80 8.91 11.32 2.09 22.12 2.49 31.07 3.17 5.40 7.20 2.22 8.05 0.80 7.23 3.74 74.75 3.23 4.89 7.13 6.18 19.00
3.75 63.50 2.46 20.00 23.90 9.91 11.59 2.14 23.22 2.73 31.44 3.49 5.55 7.90 2.24 8.24 0.78 7.40 3.79 76.20 3.30 4.98 7.65 6.00 18.25
3.50 62.80 1.96 19.50 23.50 9.84 11.35 1.90 22.50 2.35 31.00 2.35 5.21 7.10 2.00 7.61 0.67 7.20 3.47 74.51 3.10 4.15 6.92 5.90 18.20
Close 1,032.93 Listed cap 54,792.74 mn Payout (%) 19.04
Change 5.95 Market cap 75,117.40 mn Div Yield (%) 2.25
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
3.59 63.04 2.37 19.81 23.77 9.91 11.35 1.99 22.50 2.40 31.06 3.33 5.27 7.21 2.05 8.08 0.74 7.20 3.66 75.79 3.11 4.98 7.09 5.90 18.20
10950 148300 11055 16770 299 2148 14500 12784 580 1243094 1712830 152 1941869 12500 482795 501 11743 24375 6531706 804863 342333 175 1784151 500 4975
3.90 69.86 2.50 20.45 27.51 14.89 12.75 2.49 28.50 3.10 32.10 4.70 5.55 8.20 2.25 8.85 1.39 8.70 3.79 79.98 3.40 8.89 8.58 9.47 22.24
50 40 9.75 -
-0.09 0.04 0.41 0.21 0.97 1.00 0.03 -0.10 0.38 -0.09 -0.01 0.16 -0.13 0.01 -0.17 0.03 -0.06 -0.03 -0.08 1.04 -0.12 0.09 -0.04 -0.28 -0.80
2.80 57.60 1.01 14.01 21.85 7.91 9.51 1.30 22.12 1.30 23.40 2.11 4.52 4.25 1.70 2.11 0.25 5.50 2.71 67.70 2.51 3.51 6.56 5.25 18.00
20B 20R 10B -
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 954.62 Turnover 3,676,747 P/E (x) 2.72 Company
Paid up Cap(mn)
PE
Open
High
High Low 995.02 949.35 Total cos Defaulter cos P/BV (x) ROE (%) 1.19 43.91 Low
Close Chg
Cherat Papersack 115 2.78 76.60 80.43 77.00 78.11 ECOPACK Ltd 230 2.63 3.18 2.64 2.88 Ghani Glass 1067 4.42 47.78 48.49 47.80 48.10 MACPAC Films 389 3.07 4.05 2.85 3.41 Merit Pack 47 64.58 24.60 25.83 25.01 25.83 Packages Ltd 844 57.52 106.83 112.17 106.00 112.17 Siemens EngineeringSPOT 82 11.01 1289.27 1353.73 1280.00 1334.54 Tri-Pack Films 300 8.25 112.01 114.00 111.25 113.05
1.51 0.25 0.32 0.34 1.23 5.34 45.27 1.04
Close 985.51 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change 30.89 Market cap 36,674.97 mn Div Yield (%) 5.71
Last 60 days High Low
68499 83.23 34.00 2311273 3.18 1.70 46065 61.99 45.30 647000 4.05 1.60 79323 25.83 13.01 469794 112.17 98.00 1962 1381.00 1068.75 52831 115.00 97.00
% Change 3.24 5-Day High 985.51 5-Day Low 949.78
2009 Div BR (%) (%)
2010 Div BR (%) (%)
30 32.5 900 100
20 25 900 -
10B -
25B 10B -
INDUSTRIAL ENGINEERING
Company
Paid up Cap(mn)
Ados Pak AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB Pak Engineering
High Low 1,556.18 1,532.30 Total cos Defaulter cos P/BV (x) ROE (%) 3.15 38.02
Close 1,539.68 Listed cap 1,336.62 mn Payout (%) 131.49
PE
Open
High
Low
Close Chg
Volume
66 1.03 215 5.27 104 214 213 10.44 124 132 7.90 366 6.45 57 763.89
15.82 219.90 43.51 1.92 11.15 135.00 65.98 493.33 282.00
16.80 222.00 44.00 1.95 11.56 135.00 68.50 495.50 289.80
16.00 218.10 44.00 1.35 11.15 132.50 65.20 492.25 269.00
16.01 0.19 220.00 0.10 44.00 0.49 1.41 -0.51 11.27 0.12 135.00 0.00 66.00 0.02 493.22 -0.11 275.00 -7.00
1568 2578 402 178827 22004 1142 3540 16274 510
21.48 227.45 51.99 2.40 18.80 147.89 88.00 595.99 324.80
2010 Div BR (%) (%)
40 100 20B - 100R 80 30B 100 5 - 20B
90 100 20 150 10
20B 20B
Open
High
Low
Close Chg
Close 1,680.99 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 39.90 Market cap 226,616.43 mn Div Yield (%) 0.83
Last 60 days High Low
200 16.90 11.15 1091 53.00 39.25 6093 6.73 0.85 700 15.47 8.50 1823 77.14 35.17 1102 5.70 2.54 570 6.65 5.00 231785 5.59 1.11 215 21.50 16.01 55779 36.00 27.15 2102 89.89 63.99 201 8.50 2.61 10780 68.49 48.50 6448 68.22 53.64 59634 7.18 4.20 221 79.00 61.50 500 3.00 2.00 8803 56.80 39.01 130 27.30 17.51 18347 6.99 4.00 124 53.81 32.50 500 44.90 34.00 2634 13.50 9.80 27315 7.88 3.21 11619 4345.00 3775.00 270 8.49 4.75
2009 Div BR (%) (%) 10 40 17.5 35 40 35 25 20 30 15 15 458 -
25B 30B 10B 25B 10B 25B -
% Change 2.43 5-Day High 1,680.99 5-Day Low 1,603.56 2010 Div BR (%) (%) 15 0 12.5R 35 20B 15 20B 10 12 12 10 15 28R 178 -
Open 1,088.37 Turnover 375,290 P/E (x) 2.08
High Low 1,097.80 1,080.10 Total cos Defaulter cos P/BV (x) ROE (%) 0.22 10.64
Paid up Cap(mn)
PE
Open
High
Low
Diamond Ind 90 Gauhar Engineering Ltd 22 Hussain Industries 106 Pak Elektron 1174 Tariq Glass Ind 231
3.42 2.44
9.02 0.50 9.45 13.42 20.69
9.00 0.75 9.50 13.65 21.40
8.70 0.70 8.45 13.30 20.15
Company
Close Chg 8.70 0.74 9.44 13.56 20.37
-0.32 0.24 -0.01 0.14 -0.32
Close 1,089.74 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 501 4500 505 117384 252400
Change 1.37 Market cap 5,111.66 mn Div Yield (%) 3.02
2009 Div BR (%) (%)
14.12 20 200.00 400 41.50 0.21 10.55 110.05 17.15 65.20 35 390.00 450 254.64 125
20B 25B -
Last 60 days High Low 19.39 0.75 11.49 15.43 21.40
7.55 0.15 8.45 12.90 15.90
2009 Div BR (%) (%) -
10B -
2010 Div BR (%) (%) 17.5
10B -
PERSONAL GOODS Performance of SR Personal Goods Index Open 986.40 Turnover 10,988,850 P/E (x) 7.04 Company
Paid up Cap(mn)
Amtex Limited XD Artistic Denim Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Chakwal Spinning Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute Crescent Textile D S Ind Ltd Data Textile Dawood Lawrencepur Dewan Khalid Textile Dewan Mushtaq Textile Din Textile Ellcot Spinning Gadoon Textile XD Gul Ahmed Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres ICC Textile Ideal Spinning Idrees Textile Indus Dyeing J K Spinning Khurshid Spinning Kohat Textile Kohinoor Ind Kohinoor Mills Kohinoor Textile Leather Up Masood Textile Mohd Farooq Mukhtar Textile Nishat (Chunian) Nishat Mills Olympia Textile Pak Synthetic Paramount Spinning Quality Textile Ravi Textile Rupali Poly Saif Textile Salfi Textile Sally Textile Samin Textile Sana Ind Sapphire Fibre Saritow Spinning Service Ind Shahtaj Textile Shahzad Textile Sunrays Textile Suraj Cotton Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zephyr Textile Ltd
2415 840 4493 33 76 76 141 400 1150 316 2442 238 492 600 99 514 57 34 204 110 234 635 222 716 3105 100 99 180 181 184 132 208 303 509 1455 60 600 189 145 1596 3516 108 560 174 160 250 341 264 33 88 134 55 197 133 120 97 180 69 180 307 418 215 400 594
High Low 999.43 980.28 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64
PE
Open
High
Low
9.91 6.34 0.34 0.47 5.49 0.51 0.48 34.54 4.14 3.94 49.84 0.19 0.18 0.54 0.60 0.61 3.70 0.95 0.77 2.99 0.51 3.39 2.98 1.05 0.74 3.81 2.38 2.06 1.80 5.13 2.95 0.76 0.78 4.59 0.32 0.29 0.20 5.01 3.34 1.22 0.38 8.32 0.36 0.59 0.77 4.47 9.03 0.59 5.57
4.29 22.66 9.96 9.10 13.69 630.36 1.49 1.25 3.16 901.52 2.63 0.84 20.00 1.97 0.32 42.02 2.40 6.44 25.50 19.65 55.54 25.70 7.02 4.03 37.77 2.15 6.25 3.16 324.20 6.20 1.00 1.45 1.85 2.70 5.64 1.78 20.00 1.02 0.61 21.55 59.85 2.00 9.51 10.50 13.24 1.74 37.00 4.55 62.70 4.39 6.42 44.50 124.68 2.50 245.59 18.32 7.00 39.83 35.00 106.08 56.77 1.00 1.70 3.75
4.64 23.00 10.43 8.25 13.70 661.87 1.88 1.30 3.33 930.00 2.70 0.94 20.50 2.01 0.49 43.00 2.50 7.44 25.15 20.50 56.85 26.25 7.80 4.20 38.95 2.05 7.00 3.29 339.97 7.00 2.00 1.40 1.98 2.98 5.69 2.34 19.98 1.39 0.66 21.94 60.90 2.45 9.88 10.50 13.25 1.84 37.25 4.74 63.00 4.40 6.45 44.99 130.91 2.30 247.80 18.69 6.00 38.01 34.51 106.00 58.00 1.17 1.85 4.25
4.25 22.50 10.00 8.10 13.30 629.25 1.50 1.10 3.08 907.00 2.55 0.74 19.05 1.90 0.33 40.50 2.50 5.45 25.15 19.90 56.00 24.81 7.00 4.06 37.65 1.55 6.00 2.92 309.01 5.31 1.40 1.40 1.71 2.05 5.30 2.00 19.02 1.05 0.51 21.63 59.51 2.00 8.62 10.35 13.05 1.60 35.26 4.00 62.65 4.01 6.01 42.72 126.50 2.30 242.90 17.50 6.00 38.01 33.25 104.50 56.51 1.00 1.60 3.70
Open 915.64 Turnover 104,902 P/E (x) 7.18
2010 Div BR (%) (%) 10B 25B -
Total Equity (Rs in mn)
2.20
Revenue (Rs in mn)
1,676.73 180.46 1,742.07
MA (200-day)
2.70
Interest Expense
138.59
1st Support
2.62
Loss after Taxation
(18.39)
2nd Support
2.36
EPS 10 (Rs)
1st Resistance
3.16
Book value / share (Rs)
2nd Resistance
3.44
PE 11 E (x)
Pivot
2.90
PBV (x)
(0.80) 7.85 0.37
ECOP closed up 0.25 at 2.88. Volume was 3,989 per cent above average (trending) and Bollinger Bands were 65 per cent wider than normal. The company's loss after taxation stood at Rs17.193 million which translates into a Loss Per Share of Rs0.75 for the 1st quarter of current fiscal year (1QFY11). ECOP is currently 6.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into ECOP (bullish). Trend forecasting oscillators are currently bullish on ECOP.
IGI Investment Bank Ltd
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
63.19
Total Assets (Rs in mn)
8,260.69
MA (10-day)
2.60
Total Equity (Rs in mn)
1,669.86
MA (100-day)
2.10
Revenue (Rs in mn)
MA (200-day)
2.36
Interest Expense
1st Support
2.60
Loss after Taxation
2nd Support
2.50
EPS 10 (Rs)
1st Resistance
2.80
Book value / share (Rs)
2nd Resistance
2.90
PE 11 E (x)
Pivot
2.70
PBV (x)
844.20 667.45 (199.37) (0.94) 7.87 16.94 0.34
IGIBL closed up 0.11 at 2.71. Volume was 1,372 per cent above average (trending) and Bollinger Bands were 53 per cent narrower than normal. The company's profit after taxation stood at Rs8.928 million which translates into an Earning Per Share of Rs0.04 for the 1st quarter of current fiscal year (1QFY11). IGIBL is currently 14.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into IGIBL (bullish). Trend forecasting oscillators are currently bullish on IGIBL.
JS Bank Limited
Close Chg 4.36 22.84 10.23 8.25 13.31 661.72 1.88 1.10 3.11 920.17 2.65 0.83 20.50 1.91 0.45 42.36 2.50 6.00 25.15 19.91 56.10 25.78 7.80 4.10 38.00 1.56 6.00 3.12 333.49 6.88 2.00 1.40 1.74 2.94 5.34 2.00 19.50 1.05 0.51 21.71 59.74 2.00 8.73 10.35 13.05 1.63 36.53 4.04 62.65 4.03 6.01 44.00 130.91 2.30 243.02 18.69 6.00 38.01 34.45 104.50 56.70 1.09 1.70 4.23
0.07 0.18 0.27 -0.85 -0.38 31.36 0.39 -0.15 -0.05 18.65 0.02 -0.01 0.50 -0.06 0.13 0.34 0.10 -0.44 -0.35 0.26 0.56 0.08 0.78 0.07 0.23 -0.59 -0.25 -0.04 9.29 0.68 1.00 -0.05 -0.11 0.24 -0.30 0.22 -0.50 0.03 -0.10 0.16 -0.11 0.00 -0.78 -0.15 -0.19 -0.11 -0.47 -0.51 -0.05 -0.36 -0.41 -0.50 6.23 -0.20 -2.57 0.37 -1.00 -1.82 -0.55 -1.58 -0.07 0.09 0.00 0.48
Close 991.67 Listed cap 47,070.70 mn Payout (%) 16.68
Volume 514016 242 5098001 800 2922 5429 101 107 70964 628 16001 51506 1041 82256 4300 8282 488 594 120 5714 3598 16260 162 55988 5195 9580 1458782 2500 452 112 18000 1000 40082 176 5146 2005 4962 1070 38007 548447 2141568 500 411687 3844 501 88443 284 58012 200 8165 118094 1506 307 500 2370 4576 125 900 10274 16588 37572 101 5256 2102
Change 5.27 Market cap 131,639.03 mn Div Yield (%) 2.37
Last 60 days High Low 18.30 24.05 12.32 18.75 14.50 747.48 2.80 2.59 3.95 930.00 3.33 1.49 23.90 2.37 0.90 44.50 3.75 7.44 30.90 25.45 56.85 26.25 10.30 4.88 40.77 2.70 7.29 5.35 339.97 9.50 2.00 1.50 2.00 3.73 6.30 3.00 22.59 2.08 0.95 25.14 63.18 2.45 10.20 11.25 13.25 2.30 38.10 6.85 68.90 6.20 8.69 44.99 130.91 2.99 276.50 21.90 9.48 39.84 37.50 112.80 60.50 1.50 2.00 4.90
4.25 18.50 9.70 8.10 8.60 436.00 0.55 0.56 3.00 640.01 2.26 0.16 17.89 1.44 0.02 36.10 0.26 1.80 20.80 17.21 34.65 19.99 5.51 3.35 34.05 0.30 2.02 2.60 209.03 4.05 1.00 0.46 1.01 1.52 4.51 1.10 18.01 0.35 0.14 15.66 45.81 2.00 5.16 7.00 7.51 1.29 31.25 2.01 22.30 3.36 5.02 27.50 94.05 1.10 169.00 15.61 3.25 30.03 29.00 86.50 37.25 0.26 0.86 1.50
% Change 0.53 5-Day High 991.67 5-Day Low 976.23
2009 Div BR (%) (%)
2010 Div BR (%) (%)
20 120 115 7.5 5 15 15 20 12.5 40 35 200 20 10 15 20 4 -
30 20 - 15B 20 5 15 5 20 10B 35 70 12.5 10 20B 10 20 10 20 5B 15 100R 15 25 45R 10 10B 15 40 25 10 - 100R 60 15 45 5 50 80 20B -
15B 10B 50R 10B 20B -
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
44.50
Total Assets (Rs in mn)
32,894.92
MA (10-day)
2.63
Total Equity (Rs in mn)
5,654.56
MA (100-day)
2.52
Revenue (Rs in mn)
2,527.30
MA (200-day)
2.98
Interest Expense
1,806.71
1st Support
2.50
Loss after Taxation
(594.94)
2nd Support
2.37
EPS 09 (Rs)
1st Resistance
2.73
Book value / share (Rs)
2nd Resistance
2.83
PE 10 E (x)
Pivot
2.60
PBV (x)
Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
8.93 99.90 6.42 84.00 13.77 76.04 7.34 26.45 6.76 8.00 10.26 130.00 5.57 61.57
High
High Low 928.66 908.71 Total cos Defaulter cos P/BV (x) ROE (%) 1.60 22.31 Low
Close Chg
103.00 100.00 101.86 1.96 85.00 84.51 85.00 1.00 76.80 75.06 76.58 0.54 26.50 26.25 26.49 0.04 8.94 7.56 8.38 0.38 133.00 126.00 129.00 -1.00 62.00 61.15 61.99 0.42
Close 923.71 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 23827 4179 2624 6919 5025 147 62080
104.00 114.00 77.50 26.98 9.00 139.50 64.50
83.00 82.20 65.00 22.60 6.81 115.90 58.20
9.23 0.28
Ideal Spinning Mills Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
70.64
Total Assets (Rs in mn)
MA (10-day)
5.22
Total Equity (Rs in mn)
MA (100-day)
3.69
Revenue (Rs in mn)
740.24 28.60 1,111.39
MA (200-day)
3.17
Interest Expense
1st Support
5.70
Loss after Taxation
(45.32)
2nd Support
5.35
EPS 09 (Rs)
(4.569)
1st Resistance
6.70
71.79
Book value / share (Rs)
2.88
2nd Resistance
7.35
PE 10 E (x)
0.51
Pivot
6.35
PBV (x)
2.08
IDSM closed down -0.25 at 6.00. Volume was 3,335 per cent above average (trending) and Bollinger Bands were 180 per cent wider than normal. The company's profit after taxation stood at Rs29.202 million which translates into an Earning Per Share of Rs2.94 for the 1st quarter of current fiscal year (1QFY11) IDSM is currently 119.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of IDSM at a relatively equal pace. Trend forecasting oscillators are currently bullish on IDSM. Momentum oscillator is currently indicating that IDSM is currently in an overbought condition.
BOOK CLOSURES Company
From
To
Mirpurkhas Sugar Mills ICC Textiles# Siemens Pakistan Colony Sugar Mills# JS Investment# Asian Stocks Fund# Safeway Mutnal Fund# Maple Leaf Cement# Hala Enterprises# Altern Energy# Shaffi Chemicals# Amtex Ltd# Pakistan Reinsurance#
16-Dec 19-Dec 20-Dec 21-Dec 21-Dec 22-Dec 22-Dec 22-Dec 23-Dec 23-Dec 23-Dec 24-Dec 24-Dec
30-Dec 29-Dec 29-Dec 27-Dec 27-Dec 28-Dec 28-Dec 29-Dec 29-Dec 30-Dec 30-Dec 31-Dec 31-Dec
D/B/R 15,20(B) 600 -
Spot AGM/Date 8-Dec 8-Dec -
30-Dec 29-Dec 29-Dec 27-Dec 27-Dec 27-Dec 27-Dec 29-Dec 29-Dec 30-Dec 30-Dec 31-Dec 31-Dec
INDICATIONS
Change 8.08 Market cap 30,792.73 mn Div Yield (%) 6.20
Last 60 days High Low
(0.98)
JSBL closed down -0.07 at 2.56. Volume was 471 per cent above average (trending) and Bollinger Bands were 11 per cent narrower than normal. The company's loss after taxation stood at Rs404.872 million which translates into a Loss Per Share of Rs0.66 for the nine months of current calendar year (9MCY10). JSBL is currently 14.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of JSBL (mildly bearish). Trend forecasting oscillators are currently bearish on JSBL.
Performance of SR Pharma and Bio Tech Index
% Change -0.24 5-Day High 1,552.22 5-Day Low 1,539.68
150 25 650 100
Total Assets (Rs in mn)
2.42
MA (100-day)
% Change 0.13 5-Day High 1,089.74 5-Day Low 1,082.43
PHARMA AND BIO TECH
Change -3.68 Market cap 32,503.43 mn Div Yield (%) 15.87
Last 60 days High Low
2009 Div BR (%) (%)
69.32
MA (10-day)
HOUSEHOLD GOODS
Performance of SR Industrial Engineering Index Open 1,543.36 Turnover 226,845 P/E (x) 8.29
65.75 131.00 15.00 92.50 1.20 21.00 4.03 3.55 9.65 215.99 66.75 17.92
% Change -0.81 5-Day High 1,178.41 5-Day Low 1,138.90
RSI (14-day)
Performance of SR Household Goods Index
20B -
% Change 0.58 5-Day High 1,033.23 5-Day Low 1,009.80
600 73.00 1555 185.00 200 19.88 7904 122.51 836752 2.87 500 26.70 26020 6.09 507 5.75 29553 13.40 34970 282.45 45804 78.00 1006 27.58
High Low 1,696.29 1,606.98 Total cos Defaulter cos P/BV (x) ROE (%) 11.12 30.30
0.88 16.50 16.75 16.50 16.57 0.07 5.03 50.00 49.90 48.55 49.48 -0.52 5.74 6.73 5.50 6.25 0.51 1.05 12.50 12.98 12.25 12.98 0.48 12.01 73.91 75.00 72.00 73.53 -0.38 4.87 5.70 5.19 5.35 0.48 11.32 6.23 6.50 6.00 6.00 -0.23 4.64 4.60 3.64 3.68 -0.96 3.17 20.50 21.10 19.60 19.60 -0.90 7.18 34.30 34.95 34.30 34.82 0.52 2.81 86.12 85.99 83.02 84.00 -2.12 3.66 4.50 4.20 4.20 0.54 3.47 58.82 59.95 58.50 58.67 -0.15 5.64 67.54 67.98 67.30 67.63 0.09 0.60 6.24 6.35 5.77 5.90 -0.34 8.80 76.00 79.00 72.40 72.40 -3.60 2.00 3.00 3.00 3.00 1.00 17.76 45.61 47.89 46.10 47.61 2.00 3.39 23.01 23.80 23.70 23.70 0.69 0.86 6.15 6.72 5.88 5.90 -0.25 8.95 49.40 51.50 47.10 48.78 -0.62 3.37 43.19 44.90 44.90 44.90 1.71 16.68 11.63 11.94 11.50 11.51 -0.12 6.20 6.41 6.04 6.21 0.01 19.90 4069.99 4273.48 3990.00 4262.54 192.55 8.49 8.00 8.00 8.00 -0.49
Performance of SR Construction and Materials Index High Low 1,051.33 1,019.38 Total cos Defaulter cos P/BV (x) ROE (%) 0.60 7.10
72.06 72.02 72.06 0.05 161.97 159.61 160.01 -1.74 17.00 17.00 17.00 0.00 118.00 112.00 117.00 4.03 2.54 2.05 2.08 -0.27 22.00 22.00 22.00 -0.50 4.89 4.62 4.65 0.05 4.95 4.30 4.32 -0.15 11.45 10.93 11.10 -0.17 252.00 248.10 249.88 -0.95 69.00 66.75 66.94 -2.56 19.70 18.80 19.50 0.40
Open 1,641.09 Turnover 449,347 P/E (x) 36.71
CONSTRUCTION AND MATERIALS Open 1,026.98 Turnover 15,115,569 P/E (x) 8.46
-
FOOD PRODUCERS
INDUSTRIAL METALS AND MINING High Low 996.95 972.02 Total cos Defaulter cos P/BV (x) ROE (%) 1.03 33.10
40 15
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
Performance of SR Food Producers Index
Performance of SR Industrial Metals and Mining Index Open 978.17 Turnover 169,581 P/E (x) 3.11
20B -
2010 Div BR (%) (%)
AUTOMOBILE AND PARTS
Company
High Low 1,341.41 1,313.14 Total cos Defaulter cos P/BV (x) ROE (%) 2.89 35.00
30
EcoPack Limited
% Change -0.05 5-Day High 759.54 5-Day Low 743.50
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,325.85 Turnover 33,546,829 P/E (x) 8.26
2009 Div BR (%) (%)
Alert ! Unusual Movements
2009 Div BR (%) (%) 120 10 50 25 70 15
20B 15B
% Change 0.88 5-Day High 923.71 5-Day Low 909.47 2010 Div BR (%) (%) 20 30
20B -
# Extraordinary General Meeting
OTHER SECTORS Symbols
Open
Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Grays of Cambridge Khyber Tobacco Pak Tobacco Shifa Int Hospitals PIAC(A) AKD Capital XD Pace (Pak) Ltd Netsol Technologies Pak Telephone
55.99 3.78 88 1.2 109.8 51.51 16 114 29.49 2.44 52.69 3.12 18.72 2.3
High 56.7 4.05 92.4 1.39 115.29 53 17 115 30 2.55 52.19 3.2 18.95 2.46
Low Close 53.5 3.8 84 1.34 110 52.9 16.5 114 28.1 2.41 51.31 3.01 18.56 2.02
56.7 3.83 91.58 1.34 112.99 52.9 16.95 114 28.59 2.44 51.33 3.03 18.64 2.29
Change 0.71 0.05 3.58 0.14 3.19 1.39 0.95 0 -0.9 0 -1.36 -0.09 -0.08 -0.01
Vol 128 3919168 28193 1000 2174 101 2000 500 327 103903 32223 425917 177506 703
7
Wednesday, December 15, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,151.96 Turnover 5,361,884 P/E (x) 6.19 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,162.38 1,141.37 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
78 4.93 37740 12.81 3000 0.72 8606 6175 -
79.78 19.23 2.52 3.17 3.97
79.99 19.35 2.67 3.22 4.05
79.80 19.16 2.39 3.00 3.80
79.86 19.22 2.42 3.05 3.81
0.08 -0.01 -0.10 -0.12 -0.16
Close 1,146.40 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 1510 1304480 1036842 3019052 718898
Change -5.57 Market cap 78,865.77 mn Div Yield (%) 10.11
117.99 20.12 2.69 3.33 4.50
76.50 18.15 1.80 2.31 3.35
% Change -0.48 5-Day High 1,155.20 5-Day Low 1,141.64
2009 Div BR (%) (%) 70 15 -
-
2010 Div BR (%) (%) 80 17.5 1 -
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance Crescent Star Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Shaheen Insurance
204 6.30 369 5.93 279 6.76 457 7.03 121 1250 400 3.10 718 16.70 791 16.03 3000 41.77 250 1.59 350 303 6.08 252 4.05 200 -
10.24 37.98 59.12 10.92 5.12 42.90 12.55 91.00 58.94 16.35 7.47 6.31 11.00 6.61 14.00
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd S G Power Sitara Energy Ltd Southern Electric Tri-star Power XD
PE
Open
High
Low
198 11572 6.73 1560 7932 1695 10.83 126 2.96 8803 4.93 3673 3.42 3541 25.60 178 191 3.50 1367 150 -
1.05 36.52 2.04 3.03 19.00 4.45 40.20 15.67 15.91 0.77 18.44 2.66 1.27
1.18 37.15 2.10 3.03 19.49 4.90 40.85 15.90 16.07 1.43 18.85 2.75 1.48
0.96 36.20 1.90 2.78 19.03 4.52 40.05 15.55 15.82 0.80 18.75 2.40 1.15
Close 1,268.72 Listed cap 95,369.29 mn Payout (%) 104.13
Change 1.03 Market cap 103,650.00 mn Div Yield (%) 7.29
% Change 0.08 5-Day High 1,268.72 5-Day Low 1,252.98
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
1.00 36.75 1.91 2.82 19.49 4.85 40.54 15.59 15.87 1.14 18.75 2.45 1.17
418909 5445090 236889 2259415 12689 85539 1342026 749450 1445441 11525 5501 852771 81718
1.45 37.15 2.25 3.29 26.50 6.10 42.95 15.95 16.70 1.69 23.49 2.90 1.75
33.5 45 64.5 20 3
-0.05 0.23 -0.13 -0.21 0.49 0.40 0.34 -0.08 -0.04 0.37 0.31 -0.21 -0.10
0.60 32.75 1.20 1.94 17.95 4.01 38.35 10.32 10.50 0.32 17.98 2.05 0.65
31R -
2010 Div BR (%) (%)
Open 934.66 Turnover 12,715 P/E (x) Paid up Cap(mn)
Company
0.16 -0.65 0.38 0.32 -0.91 0.82 0.45 -0.97 0.52 -0.06 -0.74 0.20 0.24 -0.01 -0.99
1000 1215 4244 3118 203 29917 7647 12128 250 224540 205 19803 6845 24000 206
12.75 38.00 64.80 12.00 7.30 48.63 13.20 93.45 60.90 17.20 8.45 8.30 11.29 7.70 14.53
9.55 27.37 47.37 9.42 3.10 34.76 10.04 68.27 52.25 12.80 5.06 1.66 8.00 6.15 11.51
American Life East West Life EFU Life Assurance
High Low 913.35 905.64 Total cos Defaulter cos P/BV (x) ROE (%) 3.92 3.85
Close 910.45 Listed cap 2,290.72 mn Payout (%) 355.53
Open
High
Low
Close Chg
Volume
Last 60 days High Low
500 6.64 455 850 44.21
19.50 3.22 77.42
19.85 2.65 78.50
18.50 2.35 77.47
19.85 0.35 2.65 -0.57 77.81 0.39
502 3000 9208
19.85 4.62 86.95
Company Sui North Gas XD Sui South Gas
High Low 1,493.54 1,468.25 Total cos Defaulter cos P/BV (x) ROE (%) 1.08 11.41
Change -7.86 Market cap 31,599.71 mn Div Yield (%) 7.04
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.03 3.01
27.00 20.18
27.26 20.35
26.90 19.95
26.99 -0.01 20.00 -0.18
40532 66104
34.75 30.70
26.60 19.95
% Change -0.53 5-Day High 1,503.75 5-Day Low 1,472.45
2009 Div BR (%) (%) -
-
2010 Div BR (%) (%) 20 15
25B
BANKS Performance of SR Banks Index Open 1,131.50 Turnover 21,542,259 P/E (x) 8.19 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.32 64.56 Askari Bank 6427 8.22 16.74 Atlas Bank 5001 1.77 Bank Alfalah 13492 13.82 10.63 Bank AL-Habib 7322 7.76 35.73 Bank Of Khyber 5004 5.87 4.31 Bank Of Punjab 5288 9.96 BankIslami Pak 5280 825.00 3.25 Faysal Bank XB 7309 4.77 14.72 Habib Bank Ltd 10019 7.35 115.96 Habib Metropolitan Bank 8732 7.97 25.75 JS Bank Ltd 8150 2.63 KASB Bank Ltd 9509 2.75 MCB Bank Ltd XD 7602 9.77 216.38 Meezan Bank 6983 8.52 16.25 Mybank Ltd 5304 2.37 National Bank 13455 6.23 70.46 NIB Bank 40437 3.10 Royal Bank Ltd 17180 4.75 Samba Bank 14335 2.07 Silkbank Ltd 26716 2.80 Soneri Bank 6023 7.50 Stand Chart Bank 38716 12.32 8.19 Summit Bank Ltd 5000 3.31 United Bank Ltd 12242 7.77 66.30
High
High Low Close 1,158.35 1,129.53 1,144.97 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.14 13.94 40.49 Low
Close Chg
65.80 64.70 65.08 0.52 17.40 16.73 17.26 0.52 1.89 1.67 1.84 0.07 10.94 10.69 10.78 0.15 36.00 35.60 35.99 0.26 4.68 4.20 4.40 0.09 10.22 9.91 9.99 0.03 3.40 3.22 3.30 0.05 14.98 14.70 14.80 0.08 118.20 114.25 117.75 1.79 26.55 25.50 26.06 0.31 2.70 2.47 2.56 -0.07 2.75 2.55 2.68 -0.07 222.00 217.65 220.30 3.92 16.39 16.00 16.10 -0.15 2.49 2.07 2.39 0.02 72.24 70.61 71.32 0.86 3.17 3.05 3.08 -0.02 4.85 4.50 4.64 -0.11 2.15 2.00 2.00 -0.07 2.89 2.75 2.77 -0.03 7.80 7.50 7.71 0.21 8.29 7.92 8.01 -0.18 3.44 3.25 3.25 -0.06 67.39 65.70 66.14 -0.16
Volume
Change 13.47 Market cap 694,341.81 mn Div Yield (%) 4.94
Last 60 days High Low
282231 65.80 872177 17.40 77743 2.55 3948206 11.00 194193 36.00 6694 4.70 1937031 10.59 94246 3.88 78789 17.10 472503 118.99 270592 26.74 1079773 3.00 9429 2.90 1525115 223.50 3624 16.70 26606 2.69 6865810 72.24 1165271 3.18 31908 8.10 243617 2.65 1043784 3.08 191224 8.00 28173 8.80 22015 3.80 1093519 67.39
50.00 14.23 1.50 7.66 30.01 2.50 8.00 2.74 13.01 92.55 18.02 2.02 2.16 182.61 14.05 1.81 62.15 2.46 3.91 1.51 2.50 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
% Change 1.19 5-Day High 1,144.97 5-Day Low 1,122.81
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 768.94 Turnover 2,452,351 P/E (x) 12.70 Paid up Cap(mn)
Company Adamjee Insurance
High Low 782.22 761.45 Total cos Defaulter cos P/BV (x) ROE (%) 0.66 5.20
Close 772.59 Listed cap 11,111.34 mn Payout (%) 79.54
Change 3.65 Market cap 47,550.63 mn Div Yield (%) 6.26
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 25.51
87.61
89.45
87.60
88.02 0.41
2117005
89.45
63.05
2009 Div BR (%) (%) 30
10B
% Change 0.47 5-Day High 772.59 5-Day Low 753.38 2010 Div BR (%) (%) 10
-
Symbols FANM MQTM HAL OTSU GAMON NESTLE HUSS LAKST KSTM PSEL SANSM SFWF EXIDE ILTM BHAT ASFL SSIC SJTM ISTM AZAMT UPFL BFMOD PRWM SAPT SCLL AGSML RMPL FRCL GVGL BAFS FECS STCL NJLIC UNIC FZTM GUSM SRSM JUBS JVDC ISIL PHDL ETNL RCML SHTM MTIL NBF SLCL NMBL DCM BROT DFSM GUTM TATM COTT BTL FASM SHJS TICL JOPP MDTL WYETH BIFO
2010 Div BR (%) (%)
- 10R 5513.33B
-
20R -
FINANCIAL SERVICES Open 405.26 Turnover 14,947,474 P/E (x) 10.54 Paid up Cap(mn)
High Low 425.95 404.37 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 0.91
PE
Open
High
Low
225 1.70 360 3.53 450 13.81 3750 4.47 250 441 First Credit & Invest Bank Ltd 650 12.50 First National Equity 575 Grays Leasing 215 IGI Investment Bank 2121 16.94 Invest and Fin Sec 600 675.00 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.69 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 7.58 JS Investment 1000 28.50 KASB Securities 1000 Orix Leasing 821 4.62 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Sec Inv Bank 514 11.20 Trust Inv Bank 586 2.73
0.73 17.95 26.33 24.01 2.10 2.74 3.25 8.68 1.20 2.60 6.73 0.76 3.75 1.86 10.94 3.89 26.90 6.47 4.40 6.75 2.26 0.68 2.80 1.76
0.83 18.00 27.64 24.38 2.30 2.70 3.00 8.70 1.80 2.80 7.27 0.87 3.90 1.95 11.94 4.04 28.24 6.95 4.50 6.55 2.31 0.70 3.25 1.75
0.68 17.50 26.95 24.01 2.03 2.70 3.00 8.30 1.23 2.60 6.74 0.67 3.62 1.82 11.03 3.80 26.50 6.40 4.05 6.13 2.17 0.60 2.75 1.75
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Equities Escorts Bank
Close Chg
Close 420.21 Listed cap 30,336.44 mn Payout (%) 99.56
Volume
Change 14.95 Market cap 28,775.87 mn Div Yield (%) 3.26
0.75 17.93 27.06 24.29 2.11 2.70 3.00 8.70 1.50 2.71 6.75 0.76 3.71 1.92 11.82 3.92 28.21 6.84 4.30 6.28 2.18 0.65 2.80 1.75
0.02 -0.02 0.73 0.28 0.01 -0.04 -0.25 0.02 0.30 0.11 0.02 0.00 -0.04 0.06 0.88 0.03 1.31 0.37 -0.10 -0.47 -0.08 -0.03 0.00 -0.01
270253 10581 140683 1104501 14698 576 1800 917 5042 2173367 987 113499 46517 21952 11632508 110037 17928 234672 62694 8849 71901 6301 2501 999
% Change 3.69 5-Day High 432.08 5-Day Low 405.26
Last 60 days High Low
2009 Div BR (%) (%)
0.95 19.98 34.00 27.02 2.70 3.47 4.50 11.75 2.90 2.90 9.00 1.00 4.80 2.84 14.05 5.38 40.00 7.59 4.75 7.29 2.70 0.86 3.90 2.98
15 25B 30 - 11.5 - 10B -243.778B 10 150 -231.08R -
0.42 13.00 24.40 20.90 1.51 1.85 2.50 6.84 0.18 1.17 6.16 0.44 2.54 1.32 8.80 1.96 24.25 5.10 3.32 4.50 1.35 0.46 1.65 1.24
2010 Div BR (%) (%) 20B 20B 10B -
Open
Open 1,291.28 Turnover 5,730,691 P/E (x) 22.29 Paid up Cap(mn)
Company
1st Fid Leasing AL-Meezan Mutual F. Atlas Fund of Funds B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Elite Cap Modaraba Equity Modaraba First Capital Mutual F. First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba I B L Modaraba XD JS Growth Fund JS Value Fund Meezan Balanced Fund Mod Al-Mali Pak Modaraba Pak Oman Advantage Pak Prem Fund Paramount Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba Tri-Star 1st Modaraba Tri-Star Mutual Trust Modaraba U D L Modaraba
264 1375 525 780 65 200 113 524 300 581 760 397 1008 202 3180 1186 1200 184 125 1000 1698 59 1000 2835 2841 872 340 454 212 50 298 264
High Low 1,322.48 1,270.19 Total cos Defaulter cos P/BV (x) ROE (%) 0.49 2.21
PE
Open
High
Low
9.81 6.57 1.69 3.68 3.16 1.65 3.65 10.31 10.63 0.63 2.29 2.27 5.74 21.64 62.25 16.07 6.92 11.80 4.80 12.51 6.80 1.96 7.74 7.16 2.25 4.42 4.69 3.42 1.62
1.46 7.72 4.34 1.61 1.50 0.70 2.91 1.61 4.05 2.02 3.18 6.79 6.74 2.49 4.72 4.48 7.01 1.36 1.05 9.50 9.03 8.72 6.98 12.33 6.35 0.98 1.35 9.23 1.35 1.86 1.76 5.76
1.59 7.97 4.30 1.80 1.59 0.70 3.00 1.79 4.25 2.28 3.22 6.80 6.75 2.40 5.05 4.55 7.30 1.40 1.10 9.90 9.04 8.74 6.81 12.40 6.45 1.00 1.75 9.05 1.35 1.90 1.80 5.79
1.50 7.60 4.20 1.40 1.34 0.57 2.91 1.60 3.65 2.00 3.10 6.79 6.66 1.82 4.66 4.15 7.10 1.15 0.96 9.85 8.90 8.70 6.75 12.06 6.15 0.95 1.35 9.00 1.35 1.22 1.75 5.71
Close 1,294.89 Listed cap 29,771.58 mn Payout (%) 104.74
Volume
Last 60 days High Low
1.57 7.88 4.20 1.62 1.39 0.66 2.92 1.65 4.25 2.00 3.20 6.80 6.66 2.38 4.98 4.50 7.20 1.18 0.96 9.89 9.01 8.70 6.75 12.08 6.30 0.99 1.38 9.01 1.35 1.69 1.78 5.71
6804 138525 28500 19804 524 26403 9000 36487 101 68016 38550 5000 13225 3201 3470470 388008 57966 18156 14303 400 806986 2426 6067 189861 239117 114952 13516 2455 1100 1003 7620 1966
2.24 8.59 4.50 2.37 2.99 1.10 3.09 2.37 5.50 2.28 3.88 7.00 6.90 3.69 5.05 4.73 7.30 2.18 1.40 13.98 9.05 9.45 7.18 12.60 6.50 1.20 2.54 10.34 5.80 2.87 4.40 6.99
0.11 0.16 -0.14 0.01 -0.11 -0.04 0.01 0.04 0.20 -0.02 0.02 0.01 -0.08 -0.11 0.26 0.02 0.19 -0.18 -0.09 0.39 -0.02 -0.02 -0.23 -0.25 -0.05 0.01 0.03 -0.22 0.00 -0.17 0.02 -0.05
% Change 0.28 5-Day High 1,294.89 5-Day Low 1,237.65
2009 Div BR (%) (%)
1.05 5.85 2.70 0.90 0.90 0.16 1.73 4.5 0.86 2.10 1.30 2.56 5.11 5 5.80 20 1.06 2.65 2.31 10 5.15 0.56 0.30 8.00 9.605 7.00 7.45 15 4.33 7.90 3.50 0.76 0.50 7.75 16.5 0.50 0.86 1.15 4.71 10
3.05 8.10 12.36 33.50 2.34 2479.50 10.19 329.00 0.85 162.00 13.90 8.25 196.19 183.78 265.00 6.00 7.10 1.49 7.00 2.65 1099.00 3.74 14.23 104.85 2.59 7.18 2080.00 2.49 36.00 59.50 52.50 8.99 45.10 5.70 414.00 6.85 2.46 4.80 58.90 72.90 41.09 22.00 34.00 0.51 0.55 4.00 1.01 1.65 1.35 0.68 5.99 23.16 34.95 1.02 47.99 35.00 94.99 80.40 7.95 51.67 1085.00 53.00
Low
Close
3.00 8.00 12.36 33.50 1.56 2312.02 10.19 327.99 0.62 162.00 13.80 8.25 181.01 168.50 260.00 4.50 7.08 1.49 7.00 2.01 1040.00 3.74 14.23 104.85 2.43 7.00 2080.00 1.71 36.00 57.00 52.50 8.30 45.10 5.41 398.00 5.26 2.10 4.80 58.90 72.90 37.20 20.65 34.00 0.50 0.50 3.98 1.01 1.65 1.35 0.68 5.25 23.16 34.95 1.02 47.99 35.00 94.99 80.38 7.95 51.67 1085.00 52.00
3.00 8.10 12.36 33.50 2.34 2450.57 10.19 328.00 0.79 162.00 13.80 8.25 181.01 183.00 261.00 4.50 7.08 1.49 7.00 2.32 1057.22 3.74 14.23 104.85 2.55 7.10 2080.00 2.20 36.00 57.83 52.50 8.31 45.10 5.70 405.00 6.17 2.40 4.80 58.90 72.90 39.00 20.70 34.00 0.51 0.55 3.98 1.01 1.65 1.35 0.68 5.25 23.16 34.95 1.02 47.99 35.00 94.99 80.38 7.95 51.67 1085.00 52.00
Change
Vol
-0.05 0.30 -0.38 0.00 0.28 25.05 -1.00 10.97 0.03 2.00 0.08 0.00 -5.84 7.97 2.00 -0.50 0.08 -0.01 0.05 -0.23 -32.77 0.49 0.57 -0.14 -0.19 0.85 75.00 -0.04 -1.40 -2.17 2.10 -0.39 -2.10 -0.31 6.93 0.17 0.08 0.96 2.19 -0.59 -0.14 -0.89 0.00 -0.13 -0.05 0.13 -0.39 0.35 0.09 0.03 0.13 0.00 1.45 0.00 0.09 1.50 1.00 3.73 -0.93 2.45 -15.00 1.50
100 100 100 100 100 79 78 55 52 50 48 44 37 32 31 22 20 20 20 18 14 12 12 11 10 10 10 10 10 8 7 6 5 5 5 5 5 5 5 5 4 3 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
Change 3.61 Market cap 18,940.99 mn Div Yield (%) 7.30
Close Chg
High
3.05 7.80 12.74 33.50 2.06 2425.52 11.19 317.03 0.76 160.00 13.72 8.25 186.85 175.03 259.00 5.00 7.00 1.50 6.95 2.55 1089.99 3.25 13.66 104.99 2.74 6.25 2005.00 2.24 37.40 60.00 50.40 8.70 47.20 6.01 398.07 6.00 2.32 3.84 56.71 73.49 39.14 21.59 34.00 0.64 0.60 3.85 1.40 1.30 1.26 0.65 5.12 23.16 33.50 1.02 47.90 33.50 93.99 76.65 8.88 49.22 1100.00 50.50
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index
2010 Div BR (%) (%) 20 - 20B - 66R 55 -63.46R 10 -
UPTO 100 VOLUME
25R 10B 20B -
Performance of SR Financial Services Index
Company
Close 1,472.45 Listed cap 12,202.80 mn Payout (%) 66.79
10 10 -
% Change -2.59 5-Day High 934.66 5-Day Low 910.45
2009 Div BR (%) (%)
16.03 2.05 57.15
Performance of SR Gas Water and Multiutilities Index Open 1,480.31 Turnover 106,636 P/E (x) 9.49
40 10B 20 25B 40 8.7B 35 35 30 20B 30 5 25B 20 15B -14.28B
Change -24.21 Market cap 10,555.27 mn Div Yield (%) 3.49
PE
50 - 7.8R 15 50 20 -
GAS WATER AND MULTIUTILITIES
10.40 37.33 59.50 11.24 4.21 43.72 13.00 90.03 59.46 16.29 6.73 6.51 11.24 6.60 13.01
LIFE INSURANCE
ELECTRICITY High Low 1,287.96 1,251.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.34 9.35
10.40 37.31 58.11 11.00 4.21 43.00 12.82 86.51 57.11 16.20 6.63 6.15 10.41 6.60 13.00
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,267.68 Turnover 12,946,963 P/E (x) 14.28
10.40 37.96 60.00 11.45 5.49 43.99 13.20 91.00 59.85 16.50 8.45 6.84 11.29 6.60 13.75
-
2010 Div BR (%) (%) 18.5 2.2 0 1.2 5 17 11 21 3 5 10 15.5 3 1.04 18.6 18 10 20 10 3 1 17 5 12.5
-
Open
High
Low
Close
NBP-DEC
70.82
72.50
71.06
71.60
POL-DEC
289.51
291.39
288.45
289.25
AICL-DEC
87.94
90.00
88.13
Change
Vol
0.78 1037000 -0.26
255000
88.40
0.46
253500
NML-DEC
59.99
60.89
59.75
59.96
-0.03
236000
MCB-DEC
216.99
221.60
217.75
220.32
3.33
ENGRO-DEC 186.32
190.95
186.40
190.36
4.04
212000
226000
DGKC-DEC
31.10
31.50
31.10
31.11
0.01
206500
ANL-DEC
10.03
10.50
10.15
10.30
0.27
139000
FFBL-DEC
35.02
-0.57
87500
75.13
76.25
75.50
75.85
0.72
57500
PPL-DEC
208.13
210.00
208.50
208.77
0.64
PSO-DEC
285.07
286.00
285.07
285.50
0.43
31000
PTC-DEC
19.41
19.80
19.30
19.75
0.34
21000
UBL-DEC
66.08
67.40
66.05
66.49
0.41
6500
OGDC-DEC 165.60
LUCK-DEC
35.59
35.50
35.00
55500
167.00
166.00
166.18
0.58
4000
BOP-DEC
9.98
10.29
10.05
10.05
0.07
4000
FFC-DEC
118.20
118.20
118.20
118.20
0.00
3000
NETSOL-DEC 18.90
18.90
18.90
18.90
0.00
1000
0.00
0.00
90.93
0.22
0.00
AICL-CFEB
90.71
ZERO VOLUME Symbols
Open
High
Low
Close
ALQT
5.61
6.00
6.00
6.00
0.39
0.00
ALTN
9.00
9.11
9.11
9.11
0.11
0.00
DNCC
2.50
2.60
2.60
2.60
0.10
0.00
FNBM
6.80
6.70
6.70
6.70
-0.10
0.00
HMIM
0.89
0.80
0.80
0.80
-0.09
0.00
KASBM
Change
Vol
1.50
1.55
1.55
1.55
0.05
0.00
LPGL
17.69
16.69
16.69
16.69
-1.00
0.00
NATM
9.55
10.55
10.55
10.55
1.00
0.00
RUBY SASML
3.60
4.00
4.00
4.00
0.40
0.00
5.11
5.60
5.60
5.60
0.49
0.00
SHDT
14.36
13.97
13.97
13.97
-0.39
0.00
SIGL
10.00
11.00
11.00
11.00
STML
21.50
22.00
22.00
22.00
0.50
0.00
TAJT
0.50
0.49
0.49
0.49
-0.01
0.00
1.00
0.00
BOARD MEETINGS
National Bank of Pakistan
KSE 100 INDEX
Bank Alfalah Ltd
Hub Power Co Ltd
Company
Date
Time
Askari Bank Ltd.
22-Dec
10:00
Fauji Fertiliser Bin Qasim Ltd
23-Dec
10:30
TECHNICAL LEVELS Company Al-Abbas Cement
Technical Outlook Technical Analysis RSI (14-day) MA (5-day)
Brokerage House
Leverage Position
79.01
Support 1
11,606.40
11,617.70
Support 2
11,540.15
MA (10-day)
11,493.16
Resistance 1
11,729.20
MA (100-day)
10,401.48
Resistance 2
11,785.75
Fair Value
*Arif Habib Ltd
Rs Recommendations
82.1
AKD Securities Ltd
Buy
*Arif Habib Ltd
61.96
Neutral
AKD Securities Ltd
92.3
Positive
TFD Research
TFD Research
Technical Outlook Technical Analysis
10,201.18
Pivot
Leverage Position
11,662.95
Nishat Mills Ltd
Engro Corporation
Brokerage House
Rs Recommendations
176
Sell
AKD Securities Ltd
238.8
Buy
TFD Research
*Arif Habib Ltd AKD Securities Ltd TFD Research
Brokerage House
Fair Value
208.75
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
65.45 186.54 179.38 184.42
Rs Recommendations Buy
*Arif Habib Ltd
Buy
AKD Securities Ltd
10.25
Accumulate
Positive
TFD Research
14.01
Positive
Technical Analysis
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Buy
Technical Outlook
Leverage Position
65.93 36.41 34.94 34.32
13
Rs Recommendations
44 44.9
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
45.7
810.01 29,767.80 0.31 36.66
* 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)
Leverage Position
70.03 10.23 9.07 9.87
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
674.58 7,271.95 N/A 10.76
* Target price for Jun-11 & **Net Open Interest in future market
HUBC closed up 0.23 at 36.75. Volume was 199 per cent above average BAFL closed up 0.15 at 10.78. Volume was 74 per cent above average (trending) and Bollinger Bands were 28 per cent narrower than normal.
and Bollinger Bands were 23 per cent wider than normal.
HUBC is currently 7.1 per cent above its 200-day moving average and is BAFL is currently 9.2 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is 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 very strong flows of volume into BAFL (bullish). Trend forecasting reflect very strong flows of volume into HUBC (bullish). Trend forecasting oscillators are currently bullish on BAFL. Momentum oscillator is currently oscillators are currently bullish on HUBC.
indicating that BAFL is currently in an overbought condition.
Fauji Cement Co Ltd
Adamjee Insurance Co Ltd
Fair Value
Rs Recommendations
59.97
Buy
AKD Securities Ltd
76
Accumulate
Positive
TFD Research
88
Neutral
74.2
Brokerage House
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
Fair Value
TFD Research
8.5
Rs Recommendations Positive
Positive
Technical Outlook
Technical Outlook Technical Analysis
Fair Value
Technical Outlook
RSI (14-day) 65.23 Free Float Shares (mn) 318.44 MA (10-day) 69.48 Free Float Rs (mn) 22,711.44 KSE 100 INDEX closed up 75.95 points at 11,672.64. Volume was 38 MA (100-day) 66.27 ** NOI Rs (mn) 142.79 per cent above average and Bollinger Bands were 26 per cent wider MA (200-day) 69.47 Mean 71.16 than normal. As far as resistance level is concern, the market will see * Target price for Jun-11 & **Net Open Interest in future market major 1st resistance level at and 2nd resistance level at , while Index will NBP closed up 0.86 at 71.32. Volume was 126 per cent above average continue to find its 1st support level at and 2nd support level at . KSE 100 INDEX is currently 14.5 per cent above its 200-day moving and Bollinger Bands were 13 per cent wider than normal. average and is displaying an upward trend. Volatility is low as com- NBP is currently 5.7 per cent above its 200-day moving average and is dispared to the average volatility over the last 10 trading sessions. playing an upward trend. Volatility is relatively normal as compared to the Volume indicators reflect moderate flows of volume into INDEX average volatility over the last 10 trading sessions. Volume indicators (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX. Momentum oscillator is currently indicating that INDEX is reflect moderate flows of volume into NBP (mildly bullish). Trend forecasting oscillators are currently bullish on NBP. currently in an overbought condition. MA (200-day)
Brokerage House
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 27,953.66 75.79 187.51
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
58.53 60.64 50.42 50.94
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
175.80 10,502.29 81.74 60.00
* 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)
74.22 83.32 75.39 88.95
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
74.22 6,533.08 22.63 88.17
* Target price for Jun-11 & **Net Open Interest in future market
age and Bollinger Bands were 11 per cent narrower than normal.
(trending) and Bollinger Bands were 34 per cent narrower than normal.
AICL is currently 1.0 per cent below its 200-day moving average and is disENGRO is currently 2.8 per cent above its 200-day moving average and is NML is currently 17.3 per cent above its 200-day moving average and is playing an upward trend. Volatility is extremely low when compared to the displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is relatively normal as compared to average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into AICL (bullish). Trend forecasting reflect moderate flows of volume into ENGRO (mildly bullish). Trend fore- reflect moderate flows of volume into NML (mildly bullish). Trend forecast- oscillators are currently bullish on AICL. Momentum oscillator is currently casting oscillators are currently bullish on ENGRO.
ing oscillators are currently bullish on NML.
indicating that AICL is currently in an overbought condition.
Allied Bank Limited
81.01
64.60
64.10
65.70
66.30
65.20
Attock Cement
50.81
62.70
62.40
63.40
63.80
63.10
Arif Habib Corp
43.69
24.10
23.85
24.45
24.60
24.25
Arif Habib Limited
55.89
26.80
26.55
27.50
27.90
27.20
Adamjee Insurance
74.22
87.25
86.50
89.10
90.20
Askari Bank
70.14
16.85
16.45
17.55
17.80
17.15
Azgard Nine
41.76
10.00
9.80
10.45
10.65
10.20
Attock Petroleum
57.04
324.95
324.05
327.15 328.40 326.20
Attock Refinery
52.88
119.25
118.35
121.85 123.50 120.90
Bank Alfalah
70.03
10.65
10.55
BankIslami Pak
50.64
3.20
3.15
3.40
3.50
3.30
Bank Of Punjab
57.24
9.85
9.75
10.15
10.35
10.05
Dewan Cement
62.18
2.25
2.10
2.65
2.85
2.50
DGK Cement
61.34
30.90
30.75
31.35
31.60
31.15
Dewan Salman
67.52
2.90
2.65
3.65
4.10
Dost Steels Ltd
10.90
11.05
88.35
10.80
3.40
55.85
2.85
2.75
3.05
3.10
2.95
EFU General Insurance 45.54
43.15
42.60
44.15
44.55
43.55
EFU Life Assurance
48.04
77.35
76.90
78.40
78.95
77.95
Engro Chemical
65.45
186.45
183.40
Faysal Bank
50.08
14.70
14.55
Fauji Cement
62.28
5.15
5.00
5.45
5.70
5.35
Fauji Fert Bin
58.11
34.60
34.30
35.35
35.80
35.05
Fauji Fertilizer
70.44
116.05
115.55
117.55 118.50 117.00
Habib Bank Ltd
73.02
115.25
112.80
119.20 120.70 116.75
Hub Power
65.93
36.25
35.75
ICI Pakistan
69.45
138.20
137.15
141.10 142.95 140.05
Indus Motors
46.02
248.00
246.10
251.90 253.90 250.00
JOV and CO
48.97
3.80
3.70
4.05
4.15
3.90
Japan Power
60.49
1.85
1.75
2.05
2.15
1.95
JS Bank Ltd
44.50
2.45
2.35
2.70
2.80
191.30 193.10 188.25 14.95
37.20
15.10
37.65
14.85
36.70
2.60
Jah Siddiq Co
44.21
11.25
10.70
12.15
12.50
11.60
Kot Addu Power
62.28
40.10
39.70
40.90
41.30
40.50
KESC
65.55
2.75
2.65
3.00
3.15
2.90
Lotte Pakistan
72.81
13.20
13.00
13.70
14.05
13.50
Lucky Cement
54.51
74.80
73.80
76.50
77.20
75.50
MCB Bank Ltd
67.99
217.95
215.65
Maple Leaf Cement
59.35
3.05
2.95
3.25
3.35
3.15
National Bank
65.23
70.55
69.75
72.15
73.00
71.40
Nishat (Chunian)
46.18
21.60
21.45
21.90
22.05
21.75
Netsol Technologies
43.61
18.50
18.35
18.90
19.10
18.70
NIB Bank
61.09
3.05
3.00
3.15
3.20
Nimir Ind.Chemical
65.04
1.95
1.80
2.45
2.80
2.30
Nishat Mills
58.53
59.20
58.65
60.60
61.45
60.05
Oil & Gas Dev. XD
62.62
164.60
162.85
PACE (Pakistan) Ltd.
57.30
2.95
2.90
222.30 224.35 220.00
3.10
168.30 170.20 166.55 3.15
3.25
3.10
48.97
2.15
2.10
2.25
2.35
2.20
P.IAC (A)
65.13
2.40
2.35
2.55
2.60
2.45
Pioneer Cement
42.10
6.80
6.50
7.50
7.95
7.20
Pak Oilfields
69.40
286.65
285.25
290.00 291.95 288.60
Pak Petroleum
68.35
207.20
206.15
209.40 210.50 208.35
Pak Suzuki
21.36
66.10
65.30
PSO XD
54.29
283.00
281.90
PTCLA
47.81
19.15
19.05
Shell Pakistan
56.80
198.65
196.95
Sui North Gas
32.40
26.85
26.70
27.20
27.40
27.05
Sitara Peroxide
57.35
13.40
13.30
13.55
13.65
13.45
Sui South Gas
27.94
19.85
19.70
20.25
20.50
20.10
Telecard
55.81
2.30
2.20
2.60
2.75
the average volatility over the last 10 trading sessions. Volume indicators
TRG Pakistan
39.92
3.75
3.65
4.00
4.15
3.90
reflect very strong flows of volume into FCCL (bullish). Trend forecasting
United Bank Ltd
79.98
65.45
64.70
67.10
68.10
66.40
oscillators are currently bullish on FCCL.
WorldCall Tele
67.54
2.95
2.85
3.20
3.30
3.10
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
62.28 5.01 4.95 5.32
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
381.31 2,009.50 N/A 5.36
* Target price for Jun-11 & **Net Open Interest in future market
ENGRO closed up 4.19 at 189.54. Volume was 149 per cent above aver- NML closed down -0.11 at 59.74. Volume was 44 per cent below average AICL closed up 0.41 at 88.02. Volume was 267 per cent above average FCCL closed down -0.13 at 5.27. Volume was 230 per cent above average and Bollinger Bands were 27 per cent wider than normal.
1st 2nd Pivot Resistance 3.70 3.85 3.60
Pervez Ahmed Sec
Technical Outlook
Technical Outlook
Leverage Position
RSI 1st 2nd (14-day) Support 61.99 3.45 3.35
(trending) and Bollinger Bands were 21 per cent narrower than normal. FCCL is currently 1.0 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to
68.35
69.80
67.55
285.15 286.25 284.10 19.30
19.45
19.25
202.45 204.55 200.75
2.50
8
Wednesday, December 14, 2010
ACCA fears SMEs crunch Staff Reporter
KARACHI: Group photo of Dr A Q Khan along with Senator S M Zafar, Chancellor, Hamdard University, Prof Dr Nasim A Khan, Vice Chancellor Prof H K Abdul Hannan and Mohammad Akhter Khan during Dr Khan’s visit to Hamdard University.-Staff Photo
Engro to award ‘outstanding ones’ KARACHI: Excellence awards have been announced by the Engro Corporation to honour the contributions of individuals and institutions in the realms of social and humanitarian services; literature; and physical and applied sciences. The announcement to this effect was made by the Director of the Institute of Business Administration (IBA), Karachi, Dr Ishrat Hussain, the chairman of the jury, at a news conference at a local hotel on Tuesday. The Chief Executive Officer of Engro Corporation, Asad Umar, was also present on the occasion. Dr Ishrat said that these awards aim to become an annual prestigious civilian award ceremony in Pakistan. The recipients which could be individuals or institutions will be selected based on lifetime accomplishment and excellence in their respective fields and will receive a cash prize of Rs5 million each at an exclusive award ceremony. It was pointed out that the first Engro Excellence Awards will recognise the contributions of three recipients, one each
from the fields of social and humanitarian services, literature and physical and applied sciences. Nominees are to be adjudicated by a jury comprising of five of Pakistan's most esteemed and respected personalities, considered a symbol of excellence and beacons of hope in their relevant fields. The Chairman of the jury will be assisted by Dr Iqbal Chowdhry, Dr Nafis Sadik, Prof Anita Ghulam Ali and Iftikhar Arif. Dr Ishrat Hussain further stated that he has been delighted at this noble initiative to
recognise the services of eminent Pakistanis who have excelled and made outstanding contributions in their respective fields. He hoped that each year these awards will inspire many young Pakistanis to dedicate themselves to hard work so that they can excel in their professional lives. Asad Umar, President and Chief Executive, Engro Corp, said that we need to recognize and celebrate these achievements so that we can inspire the next generation to emulate or even surpass the achievements of these icons.-APP
IIUI moots about business research ISLAMABAD: The third International Applied Business Research Conference (IABRC) 2010, started at the Faisal Mosque Campus of International Islamic University, Islamabad (IIUI). Wahaj-us-Siraj, Chief Executive Officer, Micro Net Pakistan, Pvt Ltd was the chief guest on the occasion while Dr Anwar Hussain Siddiqui President IIUI presided over the ceremony. Amina Said, representative Emerlald Publishing Limited also addressed on the occasion. Dr Mukhtar Ahmed, Member Higher Education Commission (HEC), Noor Amna Malik, Director General, HEC, Dr Ashfaque Hasan, Dean, NUST Business School (NBS)
were the guest speakers during different sessions of the conference. Prof Danishmand, Dean Faculty of Management Sciences (FMS), IIUI also addressed on the occasion. Dr Sadia Nadeem, Associate Professor, Foundation for Advancement of Science and Technology (FAST), NU, Dr Hamid Rafique Khattak, Dean, Army Public College of Management and Sciences (APCOMS) and Dr Mumtaz Fatima Jafferi, In Charge Faculty Development Programmes, COMSATS held Session Chairs during different sessions of the two-day long conference. Faculty members, administrative officers, staff members and a large number of students also attended the conference.-APP
KARACHI: Mohammad Zulfikar Akhtar, ACA, CFA, FCCA (UK), Senior Manager, A F Ferguson & Co and Amyn Malik Senior Manager KPMG Taseer Hadi & Co, Saad Kalia, Chairman, SRC. Khalilullah Shaikh CPD Convener-SRC, Najmul Hussain and Riaz Chamdia at the ICAP workshop on “Clarity International Standards on Auditing” organised by the Southern Regional Committee of the Institute of Chartered Accountants of Pakistan.-Staff Photo
BISE Larkana accepting exam forms RATODERO: The Controller of Board of Intermediate and Secondary Education Larkana has announced that the Examination forms from eligible candidates of Science and General Groups for appearing in SSC part I and II (Class IX & X) annual exam 2011 will be accepted through HBL Branches. According to the schedule the examination forms without late fee will be accepted up to 3012-2010. With a late fee of Rs200 the forms will be accepted from 0101-2011 to 20-01-2011, with late fee of Rs400 from 22-012011 to 10-02-2011, with late fee of Rs600 from 12-02-2011 to 26-02-2011 and with late fee of Rs.1000 the examination forms will also be accepted from 01-03-2011 to 14-032011. The blank examination forms can be had from nearest HBL branch on payment of Rs50 per form against the requisition letter from Head of the Institution concerned, the announcement added. -PPI
HEC organises roundtable ISLAMABAD: The Learning Innovation Division, Higher Education Commission (HEC) organised a one-day seminar on "Impact of Various Assessment Tools on Teacher's Training Assessment" at Commission secretariat here on Tuesday. The seminar was part of the Impact Assessment Module Development Process for Semester Examination System. According to a press release issued here, more than 70 participants, including examination staff and faculty members of public sector universities of Rawalpindi and Islamabad, attended the seminar. Prof Dr Norman Reid University of Glasgow, UK was the keynote speaker. The participants termed the Lecture of Dr Reid as very informative and thought provoking. The HEC has approved the policy guidelines on semester examination system and the same had been circulated to higher education institutions on December 4, 2008 for implementation. It was emphasized that there was a need to revitalise the existing examination system by implementation of innovative techniques of assessment learnt by quality forums. Dr Riaz Hussain Qureshi, Adviser (HRD) HEC presented a shield and a certificate Dr Reid. Speaking on the occasion, Dr Qureshi explained different activities of HEC for promotion of higher education sector.
KARACHI: A worrying number of small businesses believe they do not have enough cash reserves to survive another economic downturn, a study by Forbes Insights in association with ACCA (the Association of Chartered Certified Accountants), Certified General Accountants Association of Canada (CGACanada) and CNDCEC, the professional body for certified accountants in Italy, has found. The study was based on a survey of more than 1,750 small and medium sized enterprises (SMEs) in Canada, China, Italy, Singapore, South Africa, and the UK, with 30 per cent of the sample micro businesses employing fewer than 10 people. It shows that while most SMEs believed the worst of the recession had past, there was an unexpectedly high number of businesses - between 31 per cent and 54 per cent in each country, including those which have seen high growth and were less affected by the global downturn, who felt they did not have adequate cash reserves to survive another financial crisis. SMEs surveyed said the recession has forced them to
become better businesses and if they take on risk it is only where they can have control. Growing businesses, especially in the more dynamic economies, appear to be facing stiffer competition and rising costs, putting profit margins under pressure. According to respondents, lenders appear to be directing funds to larger SMEs and big corporations rather than micro and small enterprises. The study also found that credit is being directed away from working capital towards capacity building investments and is increasingly likely to be secured against personal or business assets, while equity investments are drawn to acquisitions and to financing local or international expansion. As commercial providers of finance have become reluctant to finance working capital, assume customer credit risks or refinance debt, the weight of expectation has shifted to shareholders and trade creditors. The study found that those businesses that value professional or expert advisers above others have performed better professional advice has given lean SMEs more confidence about their chances of survival, by ensuring that they have fewer urgent financing needs and better access to credit.
Qaim founds Edu City KARACHI: The Education City project is the manifestation of the vision of Shaheed Mohtarma Benazir Bhutto and serves as a reminder that Pakistan is paving the way for democracy, freedom and human rights in the region under the able leadership of President Asif Ali Zardari. This was stated by Sindh Chief Minister Syed Qaim Ali Shah, at the foundationstone laying ceremony of the Education City Administration Enclave at the CM House here. He said it was PPP's Government that made Education compulsory. Our Government in the past as well in the present has increased the allocation for Education Development Budget. Qaim added that the manifesto of PPP the full credit of which goes to Shaheed Mohtarma Benazir Bhutto who spelt out the five Es of the PPP, Employment, Education, Energy, Environment and Equality. She believed that education covering multiple study areas particularly technical and scientific one would improve the life of Pakistanis and create more and better job opportunities, he said. Spreading over an area of 9,000 acres of land at Deh Chuhar, Karachi, Education City aims to provide a center of excellence which would bring together the best of the
intellect in the country and from abroad and to provide an environment most conducive to learning. Sindh Board of Investment, being the primary investment promotion agency of the Province was tasked with the implementation of this project to promote intellectual investment in our future generations. Sindh Minister Education, Pir Mazhar-ulHaq, while addressing the guests committed his full support for the project and emphasised that Karachi Education City will offer a unique blend of junior schooling, higher learning and educational and vocational training providers. It will embrace the global trend towards the belief that learning is a journey. Recognising that an answer to the challenges faced by the nation primarily lies in modern education in every field of life, the Education City will focus on life-long learning opportunities for local and international students. He informed the gathering that Karachi Education City will house renowned educational institutions from Pakistan and all around the world to provide a range of exciting and challenging programmes that meet the needs of students who wish to study abroad and shall be fully integrated with our national programmes. -Agencies
Intel intros edu awards Staff Reporter KARACHI: Intel Pakistan Corporation organised the Intel Education Awards Ceremony in Karachi, in collaboration with the Intel Education Initiative, Ministry of Education, Government of Pakistan and Ministry of IT, Government of Sindh to recognise the impressive performance of outstanding schools and teachers in the province of Sindh. Of the many teachers and schools who participated in the Intel Teach Programme contest, 5 emerged as grand winners, who used technology effectively in promoting inquiry based learning. "The programme is now 8 years old and focuses on teacher training to support technology integrated and learning to enhance students' 21st Century Skills. Intel Education Awards are held keeping in mind the objective of keeping teachers abreast with the latest teaching methodologies," said Naveed Siraj, Country Manager, Intel Pakistan Corporation. "Outstanding schools and teachers who demonstrate innovative use of technology are recognised for their efforts to inculcate cutting-edge skills in our students so that they are competitive in the real world. Technology plays an important role in developing these skills, and Intel and the government are working hand in hand to train teachers across the country." Intel Education Awards are held annually in Pakistan to celebrate and promote technology integration by teachers and schools. These awards aim to motivate teachers and school administration to enhance technology implementation in the classroom and develop 21st century skills amongst students. The Intel Teach Programme is designed to enable teachers to effectively use technology to enhance student learning in the digital world.
Females prove better primary teachers than men, says HCCI HYDERABAD: Hyderabad Chamber of Commerce and Industry’s (HCCI) SubCommittee for Education has called upon the government to constitute monitoring committees comprising parents and notables at union council levels to help improve the performance of public and private schools. The chairman of the HCCI Najmuddin Qureshi made this demand during a meeting of the sub-committee at HCCI office criticising private schools for charging exorbitant tuition fees besides other expenses demanded for a variety of events. Qureshi maintained that the government provides billions of rupees for public sector education, although, owing to a lack of effective monitoring mechanism education standards were below par in those institutions. He maintained that students of Ghazali College were facing problems due to its shifting to Kohsar area, adding that such a move should have been preceded after consultation with students, parents, and teachers. About increasing the standard of education at the primary level, the HCCI official suggested that more female teachers should be appointed to teach students up to the 5th grade, as besides imparting knowledge they could carry out their better rearing as well. -Agencies
9
Wednesday, December 15, 2010
Oil falls as US data lifts dollar, indicates recovery Investors bullish on US, focus on Chinese inflation LONDON: Oil prices dipped on Tuesday as the dollar rose following stronger-than-expected US economic data and as investors remained wary over the prospect of an interest rate rise in China. US retail sales increased 0.8 per cent, advancing for a fifth straight month, and core producer prices also rose 0.3 per cent in November suggesting an acceleration in economic growth in the world's largest oil consuming nation. "A better-thanexpected retail sales report provided a boost to the dollar and put some pressure on oil," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut. The Federal Reserve is also expected to revise its economic outlook later today to reflect stronger growth after recently agreeing to extend tax breaks, effectively delivering fresh fiscal stimulus. The dollar was up 0.2 per cent against a basket of currencies. After holding steady, US crude for January fell 69 cents to
$87.92 a barrel by 1445 GMT. ICE Brent slipped 31 cents to $90.88. China's decision so far to hold back from hiking interest rates despite data at the weekend which showed inflation at a 28month high in November of 5.1 per cent has acted as an additional support to prices, analysts said.
The positive sentiment from financial markets will not, however, be enough to sustain an oil price above $90 unless supported by strong fundamentals while downside financial risk from the European debt crisis remains, analysts warned. That view was echoed in a note to clients by JBC Energy which said that while $100 will be targeted in 2011 there was a case for a price correction in the coming weeks despite cold weather across much of the northern hemisphere keeping
heating demand above average for this time of year. U.S inventory data from industry body the American Petroleum Institute was due out at 2130 GMT. US crude oil stocks were expected to have fallen last week, according to a Reuters survey of analysts. Crude stocks were estimated to be lower by 2.2 million barrels, with distillate stockpiles seen down 500,000 barrels. Gasoline stockpiles were expected to be have risen by 1.8 million barrels. Credit Suisse said on Tuesday it had raised its 2011 forecast for US crude futures to $85 per barrel, an increase of $12.50, citing a recovery in global oil demand. The price forecast was raised "to reflect a recovery in OECD demand (notably in North America) and continued strength in the non-OECD (notably Asia)", it said in a note. It also increased its 2011 outlook for ICE Brent by $12.7 per barrel to $84.5. -Reuters
GAZA STRIP - PALESTINE: A Palestinian farmer picks strawberries for export at a farm in Beit Lahia, in the northern Gaza Strip. -Agencies
US cotton limits up on China rate decision NEW YORK: US cotton futures ended Monday up the daily limit at a one-month top on speculative buying, but dealings were light as most players seemed content to sit on the sidelines for the moment, brokers said. Cotton is the best performing commodity in the ReutersJefferies commodity index, up over 76 per cent year to date. The benchmark March cotton contract on ICE Futures US rose the 4.00 cents daily limit to finish at $1.4097 per lb, with the session low at $1.3697. It was the highest close for the second position cotton contract
in over a month. session top of $1.4095 set on Total volume traded hit about Friday. In China, cotton prices 12,500 lots, about two-thirds went up on Monday with the below the 30-day average of May cotton futures last done at 34,500 lots, US cotton early-trade T h o m s o n Benchmark March cotton prices on ICE Reuters prelimi- Futures US rose the 5.00 cent daily limit to nary data $1.4597 per lb, the highest level for a second showed. Market position cotton contract since Nov. 10. March sentiment was futures later pulled off the high to trade at aided by news $1.4557, up 4.6 cents, or 3.26 per cent. that China only raised reserve requirements for 27,535 yuan per tonne, up 880 banks instead of benchmark yuan on the day. interest rates, easing worries of The market's attention will a slowdown in a prime engine soon turn to prospective spring of the world's economy. 2011 cotton plantings in counThe limit-up close meant cot- tries such as the United States ton ended the day above the and China. -Reuters
Palm oil eases after hitting 33-mth highs KUALA LUMPUR: Malaysian palm oil futures hit more than two-and-a-half-year highs on Tuesday amid firmer soyoil in China and worries over weaker production in the monsoon season, before paring some gains to settle 1 per cent lower. "The market is down purely on profit-taking in the afternoon session after it rallied since early this month," said a trader in Kuala Lumpur. The benchmark Malaysian palm oil contract fell 42 ringgit to 3,680 ringgit ($1,171.975) on profit taking after touching an intraday high of 3,766 ringgit. Overall traded volume more than doubled to 24,180 lots of 25 tonnes each.
Traders are also monitoring Malaysian palm oil exports data for the first half of December set to be released on Wednesday. Cargo surveyor Societe Generale de Surveillance earlier said palm oil overseas demand for the first ten days of this month fell 9 per cent to 351,598 tonnes from a month ago. But concerns over supply tightness due to heavy rains during monsoon season kept a lid on palm prices.
The most active September 2011 soyoil on China's Dalian Commodity Exchange jumped 1.5 per cent to a new one-month high in Asian hours. "China followed the rally in US soy complex the previous session, driven by firm crude and strong economic data from China," said an oil analyst in China's main soybean producing area, Heilongjiang province. US soyoil for December delivery however fell 0.6 per cent. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for December 13 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for December 13 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2270 2280 2235 2245 2185 2195 2185 2195
2297 2298 2327 2328 2375 2380 2408 2413
9210 2419 9211 2419.5 9140 2430 9141 2435 8805 2388 8815 2393 8335 2347 8345 2352
24175 24180 24170 24180 23700 23800 23025 23125
TIN
ZINC NASAAC
25895 2321.5 2260 25900 2322 2265 25850 2320 2289.5 25900 2321 2290 25440 2352 2300 25490 2357 2310 2327 2355 2332 2365
European vegetable oil prices ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 1000.00, May11/Jul11 1001.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 1040.00-25.00, May11/Jul11 1035.00-25.00, Aug11/Oct11 960.00-20.00, Nov11/Jan12 965.00-10.00. SUNOIL: EU dlrs tonne extank six ports option Jan11 1460.00-5.00, Feb11/Mar11 1445.00+0.00, Apr11/Jun11 1425.00+10.00, Jul11/Sep11 1450.00+20.00. LINOIL: Any origin dlrs tonne extank Rotterdam Dec11/Jan12 1352.50+2.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Dec10 1237.50-7.50, Jan11 1245.007.50, Feb11/Mar11 1225.0012.50, Apr11/Jun11 1177.5022.50. PALMOIL: RBD dlrs tonne cif Rotterdam Jan11 1262.50, Feb11/Mar11 1252.50. PALMOIL: RBD dlrs tonne fob Malaysia Jan11 1217.505.00, Feb11/Mar11 1207.507.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Jan11 1227.50-5.00, Feb11/Mar11 1217.50-7.50, Apr11/Jun11 1175.00-15.00, Jul11/Sep11 1155.00-5.00, Oct11/Dec11 1140.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Dec10 1035.00+2.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Dec10/Jan11 1790.00+15.00, Jan11/Feb11 1785.00+10.00, Feb11/Mar11 1785.00+10.00, Mar11/Apr11 1780.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1925.00+0.00. Reuters
Indian sugar ends steady MUMBAI: India's spot sugar ended steady on Tuesday as demand was weak from bulkconsumers, while millers held prices expecting the government to allow exports of the sweetener, dealers said. "Millers are not lowering prices despite weak demand. They are expecting the government will allow exports in next few days," said a senior official at the Bombay Sugar Merchants Association. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety ended steady at 2,800 rupees ($62.2) per 100 kg. In early trades on Tuesday, London white sugar and New York raw sugar futures rose over 1.5 per cent. India, the world's No. 2 sugar producer after Brazil, could approve "open general licence" sugar exports in three tranches of 500,000 tonnes each in December, January and February, a senior industry official told Reuters last month. India produced 1.75 million tonnes of sugar in the first two months of the season that began in October, almost unchanged from a year earlier, industry sources said. -Reuters
Copper hits record high on tight supply LONDON: Copper hit a record high on Tuesday, as the metal's tight supply and robust demand fundamentals attracted fresh inflow from funds. Benchmark copper on the London Metal Exchange peaked for a second day, hitting $9,267.50. The metal used in power and construction closed at $9,165 a tonne from a close of $9,220 on Monday, capping earlier gains as the dollar pared losses after US data offered further evidence the economic recovery was gathering steam. Lead and tin rode copper's coat tails to their highest in a month. Nickel hit its highest in two months. "Tighter supply next year, the ETP launches -- copper fundamentally in long run is still looking good," Andrey Kryuchenkov, analyst at VTB Capital, said. "We are approaching the holiday period, so there will be some consolidation here." Copper hit successive highs on Monday, boosted by economic prospects for top consumer China, along with dollar weakness, which makes metals cheaper for holders of other currencies. The London launch of new exchange-traded products -securities backed by physical metal -- and their popularity will be a key factor underpinning the market's supply outlook, analysts say. The ETPs launched on Friday. Meanwhile, global copper demand is expected to recover as industrial activity picks up into 2011, although elevated prices may encourage fresh mining production, Aurubis, Europe's largest copper producer, said. LME zinc stockpiles saw a huge rise, data showed, with a
second inflow of around 44,000 tonnes into New Orleans bringing stocks there up by 70,000 tonnes in two days. At just under 700,000 tonnes, stockpiles of the metal used in galvanizing are at their highest since December
Shanghai copper flats Shanghai copper was steady after touching a one-month high on Tuesday, while London futures backed away from the previous session's record peak, but sentiment remains solid on strong technical signals and China's positive economic outlook. Shanghai's benchmark third month copper dipped 40 yuan to 68,440 yuan, having rallied to a one-month peak of 69,070 yuan earlier. 2004, underlining bulging oversupply. The global market for refined zinc stands at some 12.5 million tonnes. Zinc prices ended at $2,301 a tonne from $2,320. The premium for cash copper jumped to $70 over the benchmark three-month contract, the highest since October 2008. Also, tom/next premiums for copper, the cost of rolling a position from Wednesday to Thursday, jumped to $13, the highest since July 2009, before easing to a 50 cent discount amid heavy lending in the first LME rings. Stainless steel metal nickel was at $24,500, up from $24,530. It earlier hit a two-month high at $24,975. Aluminium ended at $2,351 from $2,330, while tin closed at $26,250 from $26,150. It earlier touched its highest in one month at $26,450 a tonne. -Reuters
Gold surrenders gains as dollar rises LONDON: Gold pared gains on Tuesday after earlier rallying to its highest in a week as data showing US producer prices and retail sales rose slightly more than expected in November lifted the dollar into positive territory. Spot gold was bid at $1,397.80 an ounce at 1612 GMT, against $1,393.15 late in New York on Monday. US gold futures for February delivery firmed 80 cents to $1,398.80. The precious metal earlier
in Asia, and from safe-haven-led buying particularly in North America where there is a lack of confidence in issues like the budget deficit being solved," said HSBC analyst James Steel. "It is benefiting for different reasons in different regions." Gold has risen by over 6 per cent so far this quarter, driven largely by fluctuations in the dollar and by concerns over the outlook for growth in the United States and the eurozone's deepening debt crisis.
climbed more than 1 per cent to a session high at $1,407.70 an ounce as the US currency wilted ahead of a US policy-setting meeting. Policy makers are expected to assess the Federal Reserve's $600 billion bond-buying plan at the meeting on Tuesday, but are not forecast to signal any shift or change in the programme. While it remains vulnerable to short-term currency gyrations, gold looks set to be firmly supported by caution on the global economic outlook. "Gold is benefiting on the one hand from inflation-led buying
Silver gave up early gains in line with gold and was bid at $29.45 an ounce against $29.48, having earlier touched a high of $29.92. Britain's Financial Times newspaper reported on Tuesday that JPMorgan had cut a large position in the metal. The company's silver futures positions would be "materially smaller" in the future, the FT reported a source as saying. Platinum also rose to a one-week high of $1,713.49, before easing to show a 0.2 per cent loss on the day at $1,698.49, while palladium was flat at $754.50. -Reuters
Sugar hits 1-mth peak on technical buying LONDON: Raw sugar rallied to a one-month high on technical buying on Tuesday, while arabica coffee reversed early gains as the dollar strengthened, and cocoa was firm due to uncertainty over supplies from Ivory Coast. Raw sugar futures broke above 30 cents a lb on Monday, triggering a fresh round of technical buying, and headed up towards the 30-year high of 33.39 cents touched last month, supported by tight global supplies of the sweetener. An official downward revision in Australian raw sugar exports in 2010/11 was seen as old news and unlikely to drive prices higher on its own, dealers said. ICE March raw sugar was up 0.38 cent or 1.3 per cent to 30.87 cents a lb at 1607 GMT. Liffe March white sugar was up $11.00 or 1.5 per cent to $766.20 per tonne in slim volume of 2,649 lots. Arabica coffee prices reversed early gains as the dollar strengthened, underpinned by tight supplies of high-quality beans. ICE March arabicas were down 1.95 cent or 0.9 per cent at $2.1560 per lb at 1609 GMT, while Liffe March robusta coffee futures edged up $3 or 0.2 per cent at $1,937 a tonne in moderate turnover of 4,869 lots. Uncertainty around crop sizes in some the world's largest coffee producers including Vietnam and Colombia have supported higher prices. Cocoa futures firmed as top producer Ivory Coast's election impasse continued to make dealers nervous. March cocoa futures on ICE rose $40 or 1.4 per cent to stand at $2,930 a tonne at 1612 GMT, while Liffe second-month March cocoa was up 43 pounds or 2.3 per cent at 1,942 pounds per tonne in reasonable volume of 13,590 lots. "There's a lot of focus on what's going on in Ivory Coast," a European trader said. "There's no panic to buy. Industry are well covered," the trader said. Trade in Europe's cash cocoa market revived this week, albeit in limited amounts, as buyers kept one eye on the election dispute in Ivory Coast for any signs of disruption to the outflow of cocoa. -Reuters
BD tea weakens DHAKA: The average price of Bangladeshi teas fell 2.71 per cent to 193.84 taka ($2.74) per kg at the weekly auction on Tuesday, brokers said. Little over 1.4 million kgs were sold, leaving 19 per cent of the offer, the highest in the current season, to be carried back. Different grades were sold between 173 taka and 227 taka per kg in the auction. But in an exclusive sale some 250 kg of well made Churamoni Dust realised a highest price of 234 taka per kg. -Reuters
National Commodity Exchange Ltd Trading Summary Date
Commodity
14-Dec-2010 CRUDE100 14-Dec-2010 CRUDE100 14-Dec-2010 CRUDE100 14-Dec-2010 SILVER - SL500 14-Dec-2010 SILVER - SL500 14-Dec-2010 GOLD 01oz 14-Dec-2010 GOLD 01oz 14-Dec-2010 GOLD 01oz 14-Dec-2010 GOLD 100oz 14-Dec-2010 GOLD 100oz 14-Dec-2010 GOLD 100oz 14-Dec-2010 GOLD 14-Dec-2010 GOLD 14-Dec-2010 GOLD 14-Dec-2010 KILOGOLD 14-Dec-2010 KILOGOLD 14-Dec-2010 TOLAGOLD50 14-Dec-2010 TOLAGOLD100 14-Dec-2010 MINIGOLD 14-Dec-2010 MINIGOLD 14-Dec-2010 MINIGOLD 14-Dec-2010 MINIGOLD 14-Dec-2010 MINIGOLD 14-Dec-2010 TOLAGOLD 14-Dec-2010 TOLAGOLD 14-Dec-2010 TOLAGOLD 14-Dec-2010 TOLAGOLD 14-Dec-2010 TOLAGOLD 14-Dec-2010 IRRI6W 14-Dec-2010 RICEIRRI 14-Dec-2010 RBD PALMOLEIN 14-Dec-2010 KIBOR3M 14-Dec-2010 KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
JA11 FE11 MA11 JA11 FE11 JA11 FE11 MA11 JA11 FE11 MA11 DE10 JA11 FE11 DE10 JA11 DE10 DE10 MON TUE WED THU FRI MON TUE WED THU FRI 16DE10 DE10 DE10 10-Dec 11-Mar
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
89.08 89.60 90.10 29.60 29.41 1394.00 1392.30 1393.70 1391.80 1394.00 1393.30 38556.00 38703.00 38408.00 38355.00 38366.00 44749.00 44749.00 39476.00 39423.00 39436.00 39449.00 39463.00 45378.00 45770.00 45280.00 45348.00 45490.00 2402.00 3302.00 4978.00 86.46 85.50
89.41 89.90 90.10 29.94 29.79 1408.10 1408.60 1409.60 1406.10 1408.00 1406.60 38790.00 38801.00 38816.00 38763.00 38763.00 45225.00 45225.00 39875.00 39915.00 39835.00 39848.00 39862.00 45844.00 45890.00 45798.00 45813.00 45829.00 2402.00 3311.00 5002.00 86.46 86.06
87.90 88.48 89.65 29.36 29.41 1391.80 1392.00 1393.30 1391.80 1392.20 1393.30 38382.00 38394.00 38408.00 38355.00 38366.00 44749.00 44749.00 39476.00 39423.00 39436.00 39449.00 39463.00 45378.00 45317.00 45280.00 45348.00 45363.00 3303.00 3302.00 4978.00 86.44 85.50
88.59 89.14 89.65 29.78 29.79 1406.10 1406.60 1407.60 1406.10 1406.60 1406.60 38790.00 38801.00 38816.00 38763.00 38763.00 45225.00 45225.00 39875.00 39915.00 39835.00 39848.00 39862.00 45844.00 45890.00 45798.00 45813.00 45829.00 3312.00 3311.00 5002.00 86.44 86.06
Traded Volume in lots 130 100 220 778 1,551 2,178 31 3 3 6 5 1 -
Previous Settlement Price 88.38 88.93 89.44 29.83 29.84 1404.80 1405.30 1406.30 1404.80 1405.30 1406.30 38763.00 38774.00 38788.00 38735.00 38746.00 45193.00 45193.00 39848.00 39888.00 39807.00 39821.00 39834.00 45812.00 45859.00 45766.00 45781.00 45797.00 3303.00 3302.00 4978.00 86.46 86.05
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 88.59 54 89.14 34 89.65 1 29.78 37 29.79 1406.10 767 1406.60 688 1407.60 864 1406.10 1406.60 5 1407.60 38790.00 7 38801.00 33 38816.00 38763.00 38774.00 45225.00 45225.00 39875.00 39915.00 39835.00 39848.00 39862.00 45844.00 1 45890.00 6 45798.00 4 45813.00 1 45829.00 8 3312.00 3311.00 5002.00 86.44 86.06 -
Inter Milan's coach Rafael Benitez listens to questions during a news conference
10
Wednesday, December 15, 2010
Wozniacki adjudged ITF World Champion LONDON: Caroline Wozniacki has become the first Danish player to win the International Tennis Federation's (ITF) World Champion award, even though she has never won a grand slam. Spain's Rafael Nadal took the men's award for the second time after winning three of the year's four grand slam titles. "To be listed with all the former ITF World Champions is something I am really proud of," the 20-year-old Wozniacki, who in October became the first Dane to be ranked number one in the world, said in a statement. "I had a great year in 2010 and I'm training hard to have an even better year in 2011." Wozniacki, who knocked 13times grand slam champion Serena Williams from the top spot, was a model of consistency this season, winning six titles. Nadal's award capped a remarkable year for the 24year-old who won the French Open for a fifth time, Wimbledon for the second time and then became the youngest man to complete a career grand slam when he won the US Open in September. In doing so he regained the number one ranking from Roger Federer.-Reuters
Pakâ&#x20AC;&#x2122;s NZ tour details announced KARACHI: Pakistan will play three Twenty20 Internationals, two Test matches and six One-Day Internationals (ODIs) during the upcoming tour of New Zealand starting with a T20 game against Auckland at Colin Maiden Park, Auckland on December 23. According to itinerary of the tour available here on Tuesday, Pakistan will be play T20 Internationals in Auckland, Hamilton and Christchurch. Two Test matches will be staged at Hamilton and Wellington. The six ODIs will be held at Wellington, Hamilton, Queenstown, Christchurch, Napier and Auckland. Pakistan's T20 and Test squad is due to leave for Auckland on December 18 by Cathy Pacific flight for a 45day trip to Down Under.-APP
Sachin a great cricket emissary, says Smith JOHANNESBURG: South Africa captain Graeme Smith termed Sachin Tendulkar as "great ambassador of the game" and said his desire to become a cricketer got wings after watching the Indian batting maestro during his childhood. Smith was a 11-year-old kid when Tendulkar first toured the Rainbow nation following the country's readmission to the international fold after decades of isolation because of apartheid. But on Thursday, Smith will lead South Africa in the first Test against India at Centurion in what could well be Tendulkar's last tour to the country. "He (Tendulkar) is a world class player and a great ambassador for the game," Smith said as he reminisced at an official reception for the Indian cricket team last night.-Agencies
"Ice-cream parlour can tell the truth"
Butt eager to prove his innocence
MANCHESTER: Man United's Rooney shoots over the crossbar from a penalty kick during their English Premier League soccer match against Arsenal at Old Trafford.-Reuters
Man United knock Arsenal off top MANCHESTER: Manchester United knocked Arsenal off the top of the Premier League as they stifled their title rivals' attacking flair with a 1-0 win thanks to Park Ji-sung's goal on Monday. United went ahead four minutes before halftime when South Korean midfielder Park twisted to get his head on a Nani cross from the right which had taken a slight deflection off Arsenal defender Gael Clichy. They squandered the chance to go 2-0 up when Wayne Rooney fired a penalty well over the bar with just over a quarter of an hour left after Clichy had handled in the area at Old Trafford. The hosts, unbeaten in the league this season and with the best home record, were facing the team with the best away form but Arsenal came up short and they now sit second on 32
points, two behind United who have a game in hand. United boss Alex Ferguson's tactic of playing a five-man midfield paid off as Arsenal's usually potent combination of Marouane Chamakh, Samir Nasri and Andrei Arshavin could not string strong together the moves that have won much admiration this season. "We didn't create enough chances. Our passing was not quick and sharp enough to get them out of position," Wenger told a news conference. "The technical quality of the game was average on both sides because the pitch is very poor in my opinion and the game suffered a lot for it." Watched by some of the Chilean miners who were rescued in October after being trapped for more than two months underground, a patchy encounter will have tested the
patience of even those miners. It also did little to endorse either side's title credentials as they struggled to keep possession when they got near the box. United were keen to test young Arsenal goalkeeper Wojciech Szczesny who was making his first Premier League and standing in for Polish compatriot Lukasz Fabianski. Portugal winger Nani shot straight into the 20year-old's arms and Rooney did the same a couple of minutes later but the keeper stood strong, although his distribution was sometimes poor. Ferguson had remarked before the game that Arsenal had become a more physical side and his team got increasingly frustrated as a series of clumsy challenges failed to tempt referee Howard Webb to delve into his pocket for a card.-Reuters
Pak record 2-1 win over Maldives LAHORE: Pakistan's women football team staged a remarkable come back 2-1 win over Maldives their first Group-B match of first SAFF Women Football Championship at Cox's Bazar, Bangladesh on Tuesday. Mehwish Khan (Diya FC) scored the opening goal in 44th minute - the first in international arena history for Pakistan Women Football and Malaika Noor (Young Rising Star) hit the winner in the 89th minute from a penalty mark, said the information made available here. Eight teams are participating in the event. Pakistan will now play its second match against
Nepal on December 16 and third match against Afghanistan on December 18. Maldives opened the scoring midway through first half when Syeda Mahapara, who had a great game, conceded her lone goal of the tight-finish match. But Mehwish infused new spirit in Pakistani girls with sweetly-timed header off corner by Malaika Noor past Maldives keeper Ahmed Fazna. Malaika Noor, an expert while taking corners and free kicks, showed her class on setpieces. The midfielder who finished Leading Scorer of the sixth National Women Football Championship last August with
nine goals, hammered the all important last-ditch winner through spot-kick. Pakistani coach Tariq Lutfi fielded skipper Sana Mahmood, Syeda Mahapara, Malaika Noor, Sahar Zaman who belonged to Young Rising Star and all of them alongwith other players with game plan given by Lutfi. Meanwhile, Bangladesh got their campaign off to a comfortable start with a 2-0 victory over Sri Lanka in their Group A.while favourites India got off to a rollicking start after they put an unbelievable eighteen unanswered goals past a hapless Bhutan side.-APP
Govt nails down security plan for 31st Natâ&#x20AC;&#x2122;l Games PESHAWAR: The government of Khyber Pakhtunkhwa has finalised security arrangements for smooth holding of 31st National Games scheduled to be held here from December 25 to 31. A high level meeting presided over by Commissioner Mardan, Akbar Khan reviewed security arrangements and expressed satisfaction over it. The baseball (Men) games would be held in Mardan. Besides others, DIG Mardan Abdullah Khan, DCO Adil Khan, SP Mardan, officials of C&W, EDO Education, MS Mardan Medical Complex, Organising Secretary Zulfiqar Butt, Pakistan Olympic Association (POA) nominee Syed Azhar Ali Shah, Secretary Khyber Pakhtunkhwa Baseball Association Baseball Association Wisal Khan also attended the meeting. The meeting has finalised security arrangements for holding of this important event in Mardan. The teams of Pakistan Army, Pakistan Police, Pakistan Wapda, Punjabm, Balochistan and host Khyber Pakhtunkhwa will contest for the top honor in Baseball in Mardan. Commissioner Mardan disclosed that teams would be escorted from their staying area to the playground and foolproof security would be provided to players. "We have made elaborate security arrangements for successful holding of this mega show in Mardan," he said. Besides security cover to teams, medical cover facilities would also be provided to players at the venue the General Ihsan Sports Complex. The event will be held from December 26-30 where former federal minister Azam Khan Hoti will be the chief guest at the opening ceremony.-APP
LONDON: Former captain Salman Butt insists a London ice-cream parlour could help clear him of 'spot-fixing' allegations made as part of the corruption scandal surrounding the Pakistan cricket team. Butt said thousands of pounds discovered in his London hotel room after a 'sting operation' conducted by Britain's News of the World (NoW) tabloid, came from daily tour allowances, bat sponsorship and the ice-cream parlour opening. His explanation is set to form part of his defence at a makeor-break disciplinary hearing, in Doha, Qatar, next month. A figure of 29,000 pounds ($46,000) was reported to be found in his room. "Everybody knows the PCB (Pakistan Cricket Board) pays us daily allowances on tours and it was a long tour, so about 11,000 pounds of this money was from my daily allowances," he said. "Being captain I have extra entertainment allowance which amounts to about 4,500 pounds from the tour -- which I had with me," the 26-year-old
opening batsman added. "The rest of the money was advanced payment for my bat stickers which I was under contract by Capital Cricket which shows on the back of my bat. Pressed on whether the money was "clean", Butt added: "Of course, 100 per cent. "2,500 pounds was given to me for the opening of an ice cream parlour in Tooting (south London). "One can go there any time to Tooting. I believe the name is Afters and the manager, the people working over there, they will tell you that I had to do the opening of the ice cream parlour along with Mohammad Aamer. "And that's what we were paid for." Butt insisted there was no way as a novice skipper he could have improperly influenced Aamer and Asif. "These kind of people do not let others decide their roles," he argued. Butt, Asif and Aamer have been suspended until the ICC hearing in Doha on January 6.Agencies
PTF plans to boost tennis ISLAMABAD: President PTF Syed Kaleem Imam has said that a four year plan has been prepared to promote tennis in the country. He said that for raising the standard of the game the federation would hold tournaments at the grassroots level. "We will hold events at the school and college level from all over the country and would try to get sponsorship for that," he told APP. He said that the active working of Pakistan Tennis Federation (PTF) would help it get sponsorships for holding different events in the country. He said he had asked the
newly elected office bearers of PTF to play their active role in this regard. "Our aim is to hunt the hidden talent to make tennis a popular game of our country. And under our four year plan we hope to get sponsorship from multi national organizations, banking sector and mobile companies", he said. He expressed that the services of qualified coaches for polishing the talent of young budding players would be hired adding that the PTF would also seek guidance and suggestions from well known tennis players and those who wished to see the country at the height of glory.-APP
ISLAMABAD: Youngsters playing cricket on the land which was reserved for Proper Park in F-7 on Tuesday.-Online
Johnson sweating on Aussie recall SYDNEY: Mitchell Johnson is hoping his perspiration in the nets will provide inspiration to Australia's selectors and earn him a recall for the third Ashes test against England in Perth this week. Just two years after he was hailed as the world's best fast bowler, the 29-year-old spent two weeks pounding away in Adelaide and Perth aiming to prove that he can still bowl with the consistency and technique that earned him the plaudit. "We've got him feeling the way he wants to feel," Australia bowling coach Troy Cooley told Tuesday's The Australian. "He's working his
backside off. All he wants to do is play well for his country." Johnson's quiet demeanour has always made him an unlikely inheritor of the mantle of fiery Australian seamers like Dennis Lillee, Jeff Thomson, Merv Hughes and Glenn McGrath. The Queenslander's superquick bowling, however, soon made him indispensable to his country after he was handed his baggy green cap by McGrath as Australia's 398th test player in late 2007. A superb display in late 2008 saw him take 8-61 against South Africa at the WACA but it was the following year that he really made his mark as one
of the game's best bowlers. Having perfected the art of swinging the ball in to righthanded batsmen, Johnson fired Australia to a 2-1 test series triumph in South Africa. That earned Johnson player of the series honours and was behind his being named the International Cricket Council's player of the year for 2009. By the time he picked up that trophy, however, Johnson's form had already dipped and he had earned the derision of English fans for some of his bowling as Australia lost the Ashes. Johnson did claim 20 wickets in the 2009 Ashes series at an average of 32 and went into
the current series with a healthy 166 wickets in 39 tests at 30.08. The drawn first test at the Gabba was the first where he failed to take a wicket for Australia and he was unceremoniously dumped for the second. Although clearly hurt, Johnson had previously experienced ups and downs in his career since being discovered by Lillee as a 17-year-old and dubbed a "once-in-a-lifetime prospect". A few years and a string of back injuries later, Johnson was driving a plumber's van after being dropped by his home state Queensland.
"It's not the end of the world," he said in Adelaide after being told he was out of the side. "I've come back from stress fractures when I was younger, with Queensland. "I'm a strike bowler for Australia and I need to be getting wickets," he added. Despite his desire to get away and get his "head straight", Johnson spent the next five days in the nets at the Adelaide Oval -- alongside the tent where the media lunched - with a few spells as substitute fielder. If Australia had won or even drawn that test, Johnson may have been kept waiting for his recall, but an innings and 71
run defeat could see him return this week. "He's taken an eight-for here so he has to come back into the reckoning considering it's a game we have to win," captain Ricky Ponting said in Perth this week. "He's had a chance to get away and sort things out and he has worked exceptionally hard in Adelaide. Hopefully we'll see some good stuff from him in Perth this week." Cooley said Johnson had made progress technically and in his strength and conditioning. "We've worked on making sure his balance at the crease is where he wants it to be," said Cooley.-Reuters
US retail sales boost 4th-qtr growth prospects WASHINGTON: US retail sales were stronger than expected in November as consumers shopped despite high unemployment and producer prices rose, evidence the economic recovery gathered steam in the fourth quarter. The Commerce Department said on Tuesday total retail sales increased 0.8 per cent, advancing for a fifth straight month, as consumers snapped up clothing and other items at the start of the holiday season and receipts at gasoline stations surged. In addition, sales for October were revised up to 1.7 per cent from a 1.2 per cent gain. The sturdy rise in sales was a boost for consumer spending, which accounts for more than twothirds of US economic activity. Economists, who had expected retail sales to increase 0.6 per cent last month, said even if sales stumbled in December, consumer spending was likely to far exceed the 2.8 per cent annual growth rate recorded in the July-September period. "Consumption is likely to post a solid rise in the fourth quarter. For the first time since the recession ended, consumers are contributing to growth in a real way," said Chris Low, chief economist at FTN Financial in New York. Economists scrambled to raise their fourth-quarter economic forecasts based on the solid showing by consumers, although the data was not expected to weigh heavily at a meeting of Federal Reserve officials on Tuesday. A separate report from the Labor Department showed producer prices increased 0.8 per
cent last month, above forecasts for a 0.6 per cent gain. Core wholesale prices, which exclude volatile food and energy prices, rose 0.3 per cent. US stocks opened marginally higher and gains were curbed by a weak earnings report from Best Buy Co Inc. The top consumer electronics chain reported a decline in quarterly results and same-store sales and cut its full-year outlook, citing weak demand in its key US market. The economy expanded at a 2.5 per cent annual pace in the third quarter and data so far suggest the rate of activity accelerated in the current quarter. However, it will probably not be strong enough to discourage the Fed from completing its $600 billion government debt buying program intended push already low interest rates further down and stimulate demand. Sales excluding autos increased 1.2 per cent last month, the largest gain since March and exceeded economists' expectations for a 0.6 per cent gain. Sales excluding autos increased 0.8 per cent in October. Sales last month were buoyed by a 2.7 per cent rise in receipts at clothing and clothing accessories stores, the largest increase since March. Consumers also spent on non-essential goods, lifting sales at sporting goods, hobby, book and music stores 2.3 per cent, the biggest gain in almost a year. Sales were also boosted by a 4 per cent jump in receipts at gasoline stations, which was the largest gain in a year. But
UK inflation unexpectedly hits 6-mth high in November
motor vehicle sales surprisingly fell 0.8 per cent, while building materials dipped 0.1 per cent after rising 3.3 per cent in October. Core retail sales, which exclude autos, gasoline and building materials, rose 0.9 per cent after a 0.5 per cent gain in October. Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Economists expect the tax deal struck last week by the Obama administration and Republican lawmakers will boost spending next year. "If the proposed payroll tax cut makes it into law, consumption growth could be fairly good in the first quarter of next year too," said Paul Dales, a US economist at Capital Economics in Toronto. Other weak spots in the retail sales report included purchases at electronics and appliance stores, which fell 0.6 per cent last month and furniture sales declined 0.5 per cent. In a second report, the Commerce Department said business inventories rose 0.7 per cent to $1.42 trillion in October, the highest level since February 2009, after increasing 1.3 per cent in September. Economists polled by Reuters had forecast inventories rising 1 per cent. Business sales increased by 1.4 per cent to $1.12 trillion in October, the highest level since September 2008, after rising 0.8 per cent the prior month. The per centage increase in sales last month was the largest since March.Reuters
LONDON: Inflation rose to a six-month high in November, extending a run of upside surprises and denting lingering hopes of further monetary easing by the Bank of England. Annual consumer price inflation rose to 3.3 per cent last month from October's 3.2 per cent, marking the 11th consecutive month it has been at least a per centage point above the Bank's 2 per cent target. The figures are likely to add to policymakers' worries that rising inflation expectations among the public may trigger a wage-price spiral. Inflation looks set to rise even higher at the start of next year when VAT sales tax jumps to 20 per cent from 17.5 per cent and utility providers jack up tariffs. Sterling rose and gilts fell on the figures, which reinforced expectations the Bank's next move will be to tighten monetary policy -- probably towards the end of next year. "With GDP growth well above trend and inflation persistently above the target, there is now a negligible chance that the Bank embarks on another round of QE and, in fact, a nonnegligible risk of dislodging inflation expectations," said UBS economist Amit Kara. Bank Deputy Governor Charles Bean said Monday that policymakers were watching price pressures "like proverbial hawks" and admitted inflation had been above target for an uncomfortably long time. However the Bank has already acknowledged that inflation will stay above 3 per cent all next year, and Tuesday's data -- while disappointing -- will not be a gamechanger for monetary policy.Reuters
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Foreign ministry said that China is true friend of Pakistan and board of the Federal Deposit Insurance Corp to take the first steps toward implementing higher capital requirements set out in Pakistani masses are waiting for Chinese Prime Minister Wen the Dodd-Frank law. Many lawmakers and regulators came out of Jiabao. -Online the financial crisis arguing banks did not hold enough high qualiContinued from page 1 No #8 ty capital to deal with the shock to financial system and this conIdeological Council. To a query about quitting the coalition govtributed to the government having to come to their aid. -Reuters ernment in Balochistan and Khyber-Pakhtunkhwa, the JUI-F chief Continued from page 12 No #2 said "such decisions will be taken in future." He expressed regret over Swati's removal "without any reason." regimes - and are acknowledged internationally. The NCA underscored that Pakistan shared the goals of non-pro"Swati cooperated with the government over the Hajj scandal liferation and was prepared to work with other nuclear powers on despite the fact that there was no allegation on him." an equal footing to advance these goals. As a state with advanced "He even wrote letters to prime minister and President Zardari nuclear technology, Pakistan was also prepared to promote the and also answered questions in several cabinet meetings but a unipeaceful uses of nuclear technology, under the appropriate IAEA lateral decision was taken against him." Two more federal minisframework. The NCA expressed satisfaction on the pace of devel- ters from the JUI-F Maulana Fazl-ur Rehman's brother Maulana opment and effectiveness of Pakistan's strategic deterrence. It reaf- Ata-ur Rahman, which is minister for tourism and federal housing firmed that all requisite steps will be taken to ensure Pakistan's & works Minister Rehmat Ullah Karar - have reportedly sent their national security and to maintain credible deterrence. -APP resignations to the PM. Meanwhile, PM Gilani has appointed Syed Khursheed Shah as Minister for Religious Affairs. He has Continued from page 12 No #3 Affairs Manzoor Wattoo and other members of PPP from been given additional charge of Minister for Labour and Pakistan and Chaudhry Maqbool Ahmed former (MLA) AJK Manpower, the spokesman said. were also present on the occasion. He said it was unfortunate that AJK PPP was divided into groups due to some misunderstanding and now all the misconceptions have been removed. "Pakistan is facing a number of challenges and unity in the party will help to steer the country out from these crisis," he said. Barrister Sultan, head of PML, said PPP led coalition government effectively highlighted the Kashmir issue at international fora, adding that people of Kashmir kept the issue alive through their indigenous struggle. Sultan Mehmood said PPP is the strongest party in AJK and would be victorious in the coming general elections scheduled to be held in April 2011. Member National Assembly Faryal Talpur on the occasion said "We welcome Sultan Mehmood back into the party." -Agencies
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whole calendar year. We would be able to find some foreign companies or strategic investors, to buy into Pakistan SOEs, which would lend credibility to the whole process, he stated. The Minister elaborated that the country was searching for the companies with the experience, technical, financial and management capabilities to help Public Sector Entities to realize their true potential, with multiple stock exchange listings, which he termed, would subject the privatisation process to international scrutiny and bring investment into Pakistan in order to give tremendous credibility and transparency to the whole privatisation program and the process, he added.-Agencies
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Obama said in a statement. A relentless negotiator who earned a tax." He said that it was the responsibility of the provincial governments to impose tax on agriculture income and they must take reputation as a "bulldozer" in brokering the 1995 Dayton Accords that concluded the Bosnian war, Holbrooke was once called appropriate measures in this regard. -NNI "Washington's favorite last-ditch diplomat" by Time magazine. Continued from page 12 No #5 Nominated for the Nobel Peace Prize seven times, Holbrooke this regard, residents may have to face troubles but we appeal joined Obama's administration in January 2009 as special reprethem to be tolerant in circumstances and cooperate with law and sentative for Afghanistan and Pakistan, dealing with two of order agencies. -Online Washington's most vexing foreign policy challenges. Meanwhile, President Asif Ali Zardari and Prime Minister Syed Continued from page 12 No #6 Yousuf Raza Gilani on Tuesday paid glowing tribute to Richard devolving five more federal ministries to the provinces. Holbrooke, calling the late US special envoy to the region a The second phase of devolution is to be completed by the end of "friend of Pakistan". Describing Holbrooke's death as "a great February, 2011. Instead of Health, it is decided to recommend to loss" both leaders said in their separate statements, "Pakistan has the commission to approve the transfer of Ministry of Tourism to been deprived of a best friend" the provinces, he said. The ministries proposed to be devolved to "Pakistan has lost a friend. He was an accomplished and expethe provinces in the second phase are livestock, education, social rienced diplomat, who quickly gained the confidence of his interwelfare and special education, culture and tourism. locutors."Agencies added: European Union foreign policy chief Five ministers would also lose their cabinet posts after the secCatherine Ashton praised the late veteran US diplomat Richard ond phase is completed. They are Humayun Aziz Kurd, Sardar Holbrooke as a champion of peace who played an historic role in Assef Ahmad Ali, Maulana Ata-ur Rehman and Pir Aftab Shah Jilani. However, in the reshuffling of portfolios on Tuesday, two ending war in the Balkans. "Ambassador Richard Holbrooke was federal ministers including Sardar Assef Ahmad Ali and Pir Aftab a remarkable man, a true diplomat and a champion of peace and Shah Jilani are given other ministries and thus their cabinet posts reconciliation, not just in Pakistan and Afghanistan, but throughwill be secure. Meantime, the ministries of Food and Agriculture out the world in nearly half a century of service to his country and and Tourism are asked not to go for any fresh recruitment as it will the international community," Ashton said. -Agencies not be possible to absorb the newly inducted staff. In the third phase, which will be implemented in July 2011, ministries of food and agriculture, labour, women development and health will be devolved to the provinces. Although, Ministry of Minorities Affairs is also on the list of ministries to be devolved, but in view of issues that the ministry has to deal with at the international level like the case of blasphemy of Asia Bibi. Meanwhile, the provinces are pressing that the ministry be devolved to them as they are eyeing on the properties of Evacuee Trust Board. -Agencies
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US fury by publishing some of a trove of 250,000 classified US diplomatic papers, was accused this year of sexual misconduct by two female Swedish WikiLeaks volunteers during a stay in Sweden. Assange denies the allegations and is fighting Swedish attempts to extradite him. Earlier, Julian Assange told his mother, from his prison cell in London, he remained committed to publishing secret US cables, despite condemnation from Washington and elsewhere, Australian
China to raise inflation target in dovish signal BEIJING: China will set a 4 per cent target for consumer inflation next year, up from this year's 3 per cent objective, state television said on Tuesday, an indication that the government will desist from aggressive tightening even as price pressures mount. The slightly higher threshold for inflation was consistent with another report in official media earlier in the day that China will aim to cap new loans at about 7.5 trillion yuan ($1.1 trillion) next year, a more generous ceiling than many in the market had been expecting. "The main targets for economic and social development set by the central government for next year are that GDP will grow by about 8 per cent and the consumer price index will be capped at about 4 per cent," CCTV quoted Zhang Ping, head of the powerful National Development and Reform Commission, as saying. The 8 per cent growth target is, as in past years, likely to be a moot point. Most economists think the world's secondlargest economy will grow about 9 per cent next year. And although the 4 per cent consumer price target is higher than this year's, it is not new ground for China. In 2008 Beijing targeted an average of
about 4.8 per cent inflation and it aimed for about 4 per cent in 2009. The comments by the NDRC's Zhang were the first official statement of numerical targets for 2011 following the Central Economic Work Conference, an annual leaders' meeting that ended on Sunday and is key for setting policy for the coming year. Chinese leaders put more emphasis on the fight against inflation in their statement after the conference, but also vowed to strike a balance between ensuring price stability and maintaining growth. A 7.5 trillion yuan target for new loans next year, the same as its target this year, would be one way for the government to make clear it is not willing to sacrifice growth. Control of credit issuance is one of the most important monetary policy tools in China and many in the market had assumed that Beijing would lower the new lending objective next year as a way of tamping down on inflationary pressures. But a report on the front page of the China Securities Journal, citing an unnamed source described as authoritative, suggested otherwise. "The Chinese economy is
very big now and a target of 7.5 trillion yuan in new loans will not trigger all-round inflation," the newspaper quoted the source as saying. A Reuters poll of 26 economists forecast on Monday that Beijing would aim to reduce the new lending target to 7 trillion yuan next year. Most also forecast that the central bank would raise rates before the end of 2010 and twice again in 2011 as part of a campaign to control inflation, which quickened in November to a 28-month high of 5.1 per cent. The newspaper also said the government would likely aim for growth in the wider M2 measure of money supply of 16 per cent in 2011, which would mark a slowdown from this year's pace of roughly 20 per cent. "The two targets are consistent with one another and the logic is right, although we still need to wait for the official announcement," said Hu Yuexiao, economist with Shanghai Securities. China will also use regulatory tools to restrict lending next year, including ordering banks to raise their capital adequacy ratios and to set aside more provisions for bad loans, he said.Reuters
television reported Tuesday. Australia's Network 'Seven' asked Christine Assange to ask her 39-yearold son one question during a visit to his London jail: Was it worth it? "My convictions are unfaltering. I remain true to the ideals I have expressed. This circumstance shall not shake them," said Assange, according to his mother who supplied the network with a written statement of her son's answer. "If anything this process has increased my determination that they are true and correct." -Agencies
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Khan also decided to defy SSGC's decision to shut down CNG Stations for two days in a week. "We will not close our stations for two days and if SSGC stops gas supplies to CNG station we will move to the court", Khan said. He said that most of the participants of the meeting have expressed resentment over this decision and they wanted to get the help of Sindh High Court in this regard. Khan said that more than 60 members including office bearers of the association attended the meeting which also discussed the issue of cut in the margin of petroleum dealers.-APP
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additional disclosure requirements coupled with the market making agreement, which is a key document agreed and signed between the market maker and the corresponding exchange on which the market maker undertakes to perform market making activities.These regulations are expected to cater for reduced investor profits, volatility in the share prices and presence of unofficial market makers who may cause loss to the investors. Initially market making has been allowed in all markets except the ready market. -APP
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23.3 thousand dollars and 213 thousand dollars respectively. Furthermore, from the start of current year 2010, foreigners' net buying reached $504 million in the local bourses.
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blocks and four offshore exploration blocks, said the company, but excluded four of BP's unexplored, non-operated blocks which it said it was reviewing with its partners, one of which is OGDCL. BP said the deal was subject to regulatory approval and it expected it to complete in the first half of next year. -Reuters
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banking sector,' it added. However, the Report noted that structural weaknesses in the process of revenue generation, significant rigidities in government spending, expansion in quasi-fiscal operations have added to the fiscal burden, which is increasingly financed from the financial system. It pointed out that the banks' exposure to the government increased significantly during 2009 and in the first half of 2010, with particular concentration in the power sector due to the ongoing issue of circular debt, and continued increase in lending to public sector enterprises and commodity finance in general. Finding the government to be a captive client, banks' behaviour to lend more to the government and to public sector agencies impedes the process of productive activity in the economy, it said. This causes crowding out of the private sector, to the extent that demand for credit exists, which in turn carries long term implications for economic growth, with feedback impact on banks' asset quality and hence on financial stability, it added.
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unable to attract the foreign investment in the above mentioned period. Similarly, portfolio investment down 44.6 per cent at $172.5 million compared to $311.3 million of 5MFY10. Foreign private investment was $750.7 million, down 28.4 per cent from $1.05 billion in 5MFY10. On the other hand, foreign public investment showed meager outflow of $4.9 million as against outflow of $6.8 million in 5MFY10
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Best Buy posted a drop in quarterly sales at existing stores and lower-than-expected earnings on tepid demand for televisions and entertainment hardware and software. Sony Corp, maker of the PlayStation video game platform as well as flat-screen TVs, saw its US-listed shares fall 0.5 per cent to $35.69. Video game retailer GameStop Corp shed 0.8 per cent to $21.75. "If retail sales are well and some of these stocks are going down, maybe valuations are overstretched," said Joe Saluzzi, comanager of trading at Themis Trading in Chatham, New Jersey. "You can't just look at (Best Buy) and brush it off," he said. Separate data showed US producer prices rose more than expected in November as energy prices spiked, but underlying inflation pressures remained subdued.-Reuters
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senior researcher at the powerful National Development and Reform Commission, at the Reuters China Investment Summit. While caution over how China will deal with inflation prevails, most analysts expressed confidence that strong earnings and a robust economy would underpin Chinese shares in 2011. Hong Kong's market held within a narrow range through the day with turnover falling to the lowest in nearly 3-Ă&#x201A;½ months, signalling that the holiday season slowdown could have begun. The benchmark index would likely see rangebound trading but a break on the upside for the Shanghai Composite could lead the way for Hong Kong too, said the trader.-Reuters
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"Foreign securities houses, which place blocks of orders ahead of the Tokyo opening, have been increasingly bullish for 12 straight days with most 'buy' orders placed on Tuesday, adding to the overall positive mood," said Kazuhiro Takahashi, general manager at Daiwa Capital Markets. The benchmark Nikkei rose 22.88 points to 10,316.77. The broader Topix index gained 0.5 per cent to 901.89. If the Nikkei can hold on to its gains, retail investors are likely to jump on the bandwagon, boost volume and help it pierce strong technical resistance at 10,420.74, the level where futures and options contracts expiring in December settled on Friday, traders said.-Reuters
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or 107.41 points at 19,799.19, with 19 of its components rising. Market breadth was positive with two shares advancing for every one that declined, but volume was relatively low at 286 million shares on the BSE, compared with an average of 400 million. The index had come within 100 points off an all-time high in early November, but had then pulled back as a series of corruption scandals dented investor confidence. "The nervousness we saw recently was a shortterm blip. The growth story holds good," said Prasanth Prabhakaran, president of retail broking at IIFL, who expects the Sensex to rise by around 20 per cent in 2011. "If all goes good, our economy can even grow by 9 per cent next year." India's economy expanded by annual 8.9 per cent for the second consecutive quarter in the three months ended September, and government officials have said growth could be faster in the remaining quarters to March. The benchmark index is up 13.4 per cent in 2010, driven by foreign fund investment of $28.5 billion. In comparison, China's Shanghai Composite Index is down 10.7 per cent in 2010, and is one of the key underperformers in the emerging markets.-Reuters
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Iraqi Ambassador calls on Gilani
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ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani chairing a meeting on Economic Review at PM House. APP
Discrimination puts SAsian security in peril: Pak
Worries voiced over Nuke-bias ISLAMABAD: The National Command Authority (NCA) met here on Tuesday under the Chairmanship of Prime Minister Syed Yousuf Raza Gilani. Members of the NCA, including Federal Ministers, Chairman Joint Chiefs of Staff Committee, Services Chiefs and senior officials attended the meeting that reviewed recent global and regional developments and their implications for Pakistan's national security, a news release of ISPR said. The NCA expressed concern over policies and trends of selectivity, exceptionalism and discrimination relating to strategic export control regimes.
Such policies, detrimental as they are to international peace and security, undermine the credibility of the existing non-proliferation regime and are inconsistent with the national laws and international obligations. Revisionism based on strategic, political or commercial considerations accentuates asymmetries and would perpetuate instability, especially in South Asia. The NCA underscored that peace and security are indivisible and that the goals of non-proliferation could only be advanced by ensuring equal and undiminished security for all states. Regional balance and strategic stability in South Asia are indispensa-
ble for peace, sustained development and prosperity for the region and beyond. The NCA categorically reiterated that Pakistan will never accept discriminatory treatment and that it rejects any effort to undermine its strategic deterrence. Pakistan will not be a party to any approach that is prejudicial to its legitimate national security interests. As a nuclear weapon state, Pakistan is fully cognisant of its responsibilities, and has established effective and robust Command and Control structures and comprehensive export control and regulatory regimes. These are fully compatible with international best practices and global See # 2 Page 11
9th-10th Moharram
Rangers waves red flag in Khi KARACHI: After Sindh Police's warning, now Pakistan Rangers Sindh also has expressed the fear of possible terrorist activity including suicide or car bomb blast that may happen on 9 and 10 Muharram. These reservations were expressed by Brigadier Wasim Aftab while briefing the media in Ranger's Headquarter Sindh on Tuesday. Brigadier Wasim Aftab informed that security will be tightened up at more sensitive areas during the Ashura procession. Citizens would have to face constraints of security but it is requested from the citizen to remain calm in
these circumstances and immediately report to security agencies upon any kind of uncertainty. He warned that any sort of terrorist activity may happen such as suicide attack, car bomb blast or firing incidents. He informed that 4500 Ranger jawans are on 24hour duty whereas 309 mobile vans and similar strength of motorcyclists will look after the security situation during Ashura. He said that Rangers along with police will setup the joint control room near Numaish Chorangi for the surveillance of Nishtar park security. He revealed as per the
intelligence reports, 194 Imambargahs and 112 mosques have been declared sensitive, out of which 67 Imambargahs have been declared as highly sensitive. He said that on 8th, 9th and 10th Muharram, all the capillary routes of main Ashura procession will be sealed in order to ensure foolproof security measures and to avert the entrance to unconcerned people, miscreants, or terrorists in the procession. He further said that survey of all the residential and other buildings has been completed which fall in the procession routes and in See # 5 Page 11
Zardari summons joint session on Dec 19
Jiabao to address Parliamentarians ISLAMABAD: President Asif Ali Zardari has summoned the joint session of the parliament on Sunday (Dec 19). Prime Minister Yousuf Raza Gilani had sent a summary to President for summoning of joint session on the occasion of arrival of Chinese Premier. President signed the summary on Tuesday. Chinese Prime Minister Wen Jiabao would address joint session of Parliament on Sunday during three-day official visit to Pakistan on invitation of Prime Minister Syed Yousuf Raza Gilani. According to media reports, in sideline to meetings with President, Prime
Minister and high officials, Chinese Prime Minister Wen Jiabao would address to joint session of Parliament on 19 Dec (Sunday). The invitation cards have been dispatched to all high political leaders, ambassadors, leaders of constitutional institutions, Speakers, chief ministers and governors of all four provinces including GilgitBaltistan. According to spokesman to Assembly Secretariat tight security arrangements have been made for juncture of Chinese Prime Minister Wen Jiabao's address no one would be allowed to enter in Parliament without invita-
tion card. The police and security institutions have been directed to adopt effective strategy in this connection. 150 businessmen from China would visit to Pakistan, which would boost business ties between both the countries. On this juncture the agreements worth of $ 20 billion would be signed while projects worth of $20 billion have already been completed in Pakistan with cooperation of China and further projects worth of $14 billion are underway. Chinese Prime Minister would also meet with media representatives. Pakistani See # 7 Page 11
PML merged into PPP ISLAMABAD: Former prime minister of Azad Jammu Kashmir Barrister Sultan Mehmood Tuesday announced to merge Peoples Muslim League (PML) with Pakistan Peoples Party (PPP) and vowed to work for strengthening of the party in the valley. Addressing a press conference here at the Zardari House along with Member National Assembly Faryal Talpur, he said "I hereby announce to merge Peoples Muslim League with Pakistan Peoples Party unconditionally and will work for strengthening of the party in the valley." Minister for Information and Broadcasting Qamar Zaman Kaira, Minister for Labour and Manpower Syed Khurshid Shah, Minister for Water and Power Pervez Ashraf, Minister for Kashmir See # 3 Page 11
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has reiterated the commitment of his government to take all measures to eradicate corruption from government institutions to ensure the good governance. The government of PPP, he added is trying to solve the problems of the people, by promoting the culture of good governance. Prime Minister expressed the views while talking to Aftab Shabaan Mirani, MNA who called on him at PM House. The Prime Minister stressed upon the political representatives to monitor all the projects in their respective constituencies and make sure that fruits of these developments are trickled down to common man. Mirani appreciated the government's efforts to ensure good governance. The Prime Minister said the decision will help strengthen the
process of accountability. Mirani also discussed political situation of the country with the Prime Minister. He also apprised the Prime Minister of various development projects in his constituency. Furthermore, Prime Minister Gilani said Pakistan fully supports sovereignty, independence and territorial integrity of Iraq and welcomes the agreement amongst leadership of Iraq on forming the new government in the wake of general elections held in March this year. He wished every success to the Iraqi new government and the people and expressed his firm belief that a peaceful, stable and prosperous Iraq would not only benefit its people but would also contribute towards the peace and security in the region. Prime Minister was talking to Dr Rushdi Mahmood Rasheed, Ambassador of Iraq who called on him in the PM House this afternoon
to deliver a cheque of US$ 10 million on behalf of his government for the rehabilitation and reconstruction efforts of the government in the flood affected areas. The Prime Minister conveyed his profound appreciation to the leadership and people of Iraq for their generous contributions and stated that this donation will certainly help mitigate the sufferings and pains of the flood stricken people in Pakistan. Prime Minister while underlining the need for expansion and diversification of existing trade and economic cooperation with Iraq in multifaceted fields said that the concerned stakeholders in Pakistan like BOI and Ministry of Commerce will be asked to interact with the Ambassador of Iraq to find new ways and means to make progress in these important fields. Agencies
Regulators dent US bank profits WASHINGTON: Rules that have the potential to slash banks' debit card profits and stop traders from excessive speculation in oil and other commodity markets will be unveiled by US regulators this week. Banks also face the prospect of tougher capital rules as regulators spend a busy three days fleshing out the Dodd-Frank law enacted in July to rein in Wall Street's behavior in response to the 2007-09 financial crisis. Regulators must craft more than 200 rules before July 2011, including a new regulatory regime for the over-the-counter derivatives market.
On Thursday, the US Commodity Futures Trading Commission will outline long-awaited plans to clamp down on speculation that was blamed for sending food and oil prices to record highs in 2008. "Crude is around $90, I'm not saying its speculators, but it's our job to do what we can and now we have the law on our side," CFTC Commissioner Bart Chilton, said at a recent agency meeting. Speculation in various forms has been criticized by corporate executives and global policymakers. It has been blamed for driving up commodity prices, pushing down com-
panies' stock prices and hurting countries' financial conditions. The CFTC's plan will apply to physical commodities such as fuels, metals and agricultural products. The biggest issuer of debit cards, Bank of America, has said that the limits could cost it between $1.8 billion to $2.3 billion. One of the industry's lobby groups, the Financial Services Roundtable, said that the Fed's rule "will shift retailers' costs to consumers as banks seek to recover all the operating costs of debit cards." Banking regulators meet as the See # 1 Page 11
PPP-govt committed to reforms, says Awan ISLAMABAD: Federal Minister for Law and Justice, Baber Awan has said the government is committed to bring reforms in the tax system to bring maximum people in to tax net and enhance national revenues. Talking to media here on Tuesday he said that there was need to promote tax culture and the government was determined to bring those sectors of economy and people which were still untaxed but taking all benefits to earn more money. He said "those who do not pay tax in any form are opposing RGST but their designs will not be succeeded and they will be brought in to tax net through this See # 4 Page 11
Health ministry transfer halted ISLAMABAD: Giving a second thought to the devolution process, the government Tuesday deferred transfer of health ministry this year and banned new recruitments in ministries to be transferred in the next phase, it is learnt. "The decision has been taken in view of the ongoing international funding and aid projects," an official of the Health Ministry told INP, requesting not to be named. The decision came a week ahead of an important meeting of the Implementation Commission on 18th Amendment of the Constitution to decide on See # 6 Page 11
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