International Karachi, Saturday, February 19, 2011, Rabi-ul-Awwal 15, Price Rs12 Pages 12
Sharif says he won’t sell ‘extratime’ to govt See on Page 12
Economic Indicators Forex Reserves (12-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 10) Imports (Jul 10-Jan 10) Trade Balance (Jul 10-Jan 10) Current A/C (Jul 10- Jan 10) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Jan 10) Revenue (Jul 10 Jan 11) Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
195.94 -4.81 -2.29 2972
NCCPL (U.S $ in million)
2.05 -0.51 -0.26 -0.42 0.19 -0.99 -0.06
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,041.15 10,842.80 23,595.24 18,211.52 2,683.97 2,899.79 6,082.99 12,358.97
Change -20.62 6.16 293.40 -295.30 -31.94 -27.17 -4.39 40.83
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 110.98 16.00 136.59 2.00 42.68 1.70 36.28 11.03 37.65
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
09-Feb-2011 09-Feb-2011 09-Feb-2011 29-Nov-2010 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011 18-Feb-2011
13.53% 13.69% 13.86% 14.00% 13.29% 13.63% 13.76% 14.14% 14.26% 14.17% 14.21% 14.19% 14.53% 14.75% 14.96%
Commodities *Crude Oil (brent)$/bbl 103.31 *Crude Oil (WTI)$/bbl 87.67 *Cotton $/lb 194.93 *Gold $/ozs 1,388.20 *Silver $/ozs 32.48 Malaysian Palm $ 1,219 GOLD (NCEL) PKR 38,188 KHI Cotton 40Kg PKR 12,646
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 86.10 Canadian $ 86.45 Danish Krone 15.40 Euro 115.80 Hong Kong $ 10.80 Japanese Yen 1.006 Saudi Riyal 22.78 Singapore $ 66.65 Swedish Korona 13.20 Swiss Franc 88.10 U.A.E Dirham 23.27 UK Pound 138.00 US $ 85.65
Sell (Rs)
87.10 87.45 15.80 117.30 11.20 1.031 23.00 67.65 13.60 89.10 23.55 139.50 85.95
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
85.31 85.98 15.39 114.72 10.90 1.019 22.64 66.33 13.10 87.63 23.11 136.33 85.37
85.51 86.19 15.42 114.99 10.92 1.021 22.69 66.48 13.13 87.84 23.17 136.65 85.55
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
18°C 27°C 20°C 21°C 10°C 19°C
MIN
5°C 14°C 8°C 8°C -1°C 6°C
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See Page 12
l Asif Hayat, Salman Farooqui still in, due to presidency pressure l DG FIA, IG Sindh, DDIB, DIG Larkana, DIG Gilgit fired
SCRA(U.S $ in million)
FIPI (18-Feb-2011) Local Companies (18-Feb-2011) Banks / DFI (18-Feb-2011) Mutual Funds (18-Feb-2011) NBFC (18-Feb-2011) Local Investors (18-Feb-2011) Other Organization (18-Feb-2011)
See Page 12
Nine contract officers canned
Portfolio Investment
Total Portfolio Invest (12 Jan-2011)
See Page 10
PM sends ‘retired’ re-employed contract officers home
$17.44bn 14.55% $13.23bn $22.55bn $(9.32)bn $(81)mn $6.12bn $1.18bn Rs 765bn $58.39bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.21mn
Yearly(Jul, 2010 up to 17-Feb-2011) Monthly(Feb, 2010 up to-17-Feb-2011) Daily (17-Feb-2011)
England beat Pakistan by 67 runs Power/gas cuts hit B'stan hard On harmony’s heels comes progress: Awan
KARACHI: Interior Minister Rehman Malik talking to the media persons at Muttahida Qaumi Movement headquarter “Nine Zero”.-APP
Deceased Ebad's brother files plea in LHC
Davis’ backup car, driver seizure pled LAHORE: The Lahore High Court (LHC) Friday directed the Punjab government to arrest the accused involved in the killing of Ebad-ur-Rehman, a citizen who was killed when a US consulate that car sped to rescue Davis ran him down fatally on January 27. The move comes as US officials pressure Pakistan to release Davis, a US consulate employee who is locked up after shooting and killing two Pakistanis in Lahore last month in what he said was an attempted robbery. The Chief Justice of LHC, Ejaz Ahmad Chaudhry on Friday heard the case, filed by Asad Mazoor Butt, represent-
Govt stamps ‘OK’ on the Securities Rules 2011 ISLAMABAD: The government has approved Securities (Leveraged Markets and Pledging) Rules, 2011, which have been notified by the Securities and Exchange Commission of Pakistan (SECP) in the official gazette. While realising the significance of liquidity in trading for a vibrant stock market, last year the SECP had drafted these rules after detailed consultations with the relevant stakeholders. These stakeholders included the State Bank of Pakistan, Mutual Funds Association of Pakistan, Pakistan Banks Association, Leasing Association of Pakistan, Modaraba Association of Pakistan, the three stock exchanges, the National Clearing Company and the Central Depository Company of Pakistan Limited. The rules have been developed considering the best international practices and to provide a regulatory framework for Margin Financing, Margin Trading, Securities Lending and Borrowing and Pledging of clients' securities. The promulgation of these rules is not only expected to introduce effective disclosure requirements to ensure greater transparency but also to cater for the financing needs of capital markets while providing retail investors with an easy access to financing against shares and an automated mechanism for securities lending and borrowing. This in turn is expected to assist in escalating trading activity at the stock exchanges, See # 7 Page 11
ing Ijaz-ur-Rehman brother of deceased Ebad-ur-Rehman. The lawyer stated that although the police have registered a case against the driver who crushed Rehman to death but they have neither been able to seize the vehicle involved nor arrest the driver. Ijaz-ur-Rehman, whose brother Ibad was killed when a US vehicle came to Davis' rescue in the aftermath of the January 27 shooting, filed a petition in Lahore High Court demanding the car's driver be arrested, lawyer Noman Atiq said. Atiq said his client had asked for the vehicle, which the US State Department said was
driven by an embassy staff member, be impounded. "We want a proper investigation to be carried out in the murder of my brother," Rehman said. "What we want is for the culprits to be punished for their crime," he said. The plea says, the police have not even recorded the statement of Ijaz-ur-Rehman, brother of the deceased. The Chief Justice LHC ordered the Punjab government to arrest the driver and seize the vehicle involved in the accident. The court has also ordered the police to record the See # 4 Page 11
Plastic cards rise 19.21pc to 13.19mn in 2QFY11
Auto tellers up at record 4,734 Overall e-transactions reach Rs5.5 trillion Staff Reporter KARACHI: The scope of payment systems infrastructure continued to show a growing trend during the second quarter (October-December) of the current 2010-2011 fiscal year (FY11) as a total of 172 automated teller machines (ATMs) were added to the e-banking infrastructure bringing the total to a record 4,734. According to State Bank's Second Quarterly Report on Payments Systems released Friday, 309 more bank branches have been upgraded to Real Time Online Branches (RTOBs). Now 7,036 branches are offering real-time online banking out of total 9,483 in Pakistan, the report added. Similarly, the number of plas-
tic cards (i.e. ATM, Debit and Credit Cards) also increased by 19.21 percent compared to the previous quarter. At the quarter end, there were 13.19 million plastic cards in circulation. According to report, the volume and value of overall ebanking transactions in the country during the quarter under review reached 56.42 million and Rs5.5 trillion respectively showing an increase of 7.30 per cent in volume and 17.47 per cent in value compared to the previous quarter. ATMs, being the largest channel for e-banking transactions, showed 5.6 per cent increase in number of transactions and 9.5 per cent increase in value which resulted in average value of Rs See # 5 Page 11
CCOP body, PC deliberate on Equity Linked Instruments
Let roadshows for PSEs begin: panel ISLAMABAD: Subcommittee of the Cabinet Committee on Privatisation (CCOP) while deliberating on the issuance of Equity Linked Instruments Friday recommended the Roadmap and Road Shows for Capital Market Transactions for the Financial Year 2011 --presented by the Privatisation Commission (PC) for Exchangeable Bonds of Public Sector Entities (PSEs) in the domestic and international Capital Markets. The subcommittee meeting
was chaired by Syed Naveed Qamar Federal Minister for Privatisation here. The CCOP had formed the subcommittee on February 3, 2011 under the chairmanship of the Federal Minister for Privatisation for formulating recommendations for the issuance of Equity Linked Instrument of State Owned Entities (SoEs) in the Capital Market. The Committee considered the methodology for See # 6 Page 11
ISLAMABAD: In pursuance of Supreme Court (SC) directives Prime Minister Syed Yousuf Raza Gilani Friday issued orders to remove several officers who were re-employed on contract basis after their retirement in different departments including Police, Railways, IB and others. PM Secretariat sources said Gialni has removed IG Sindh Salah-ud-Din Babar Khattak, DG FIA Nasir Hussain Khosa, DIG Maj (Retd) Khurram Gulzar, Deputy Director IB Asghar Mehmood, Director IB Tariq Jamil, Member Customs Wadood Khan, DG E-government Khurram Shahzad, DIG
Zardari, Gilani, Kayani talk WoT ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani called on President Asif Ali Zardari here at the Aiwan-e-Sadr on Friday. Chief of the Army Staff General Ashfaq Parvez Kayani was also present in the meeting, during which issues relating to War on Terror (WoT) were discussed.-APP
PPP’s ‘keys’ try to open MQM-govt ties deadlock KARACHI: Leaders of Pakistan Peoples Party (PPP) visited Nine Zero, Muttahida Qaumi Movement (MQM) headquarter here on Friday. PPP leaders, Federal Interior Minister A Rehman Malik, Sindh Chief Minister Syed Qaim Ali Shah, Sindh Home Minister Dr Zulfiqar Mirza, Sindh Minister for Local Government, Agha Siraj Durrani visited MQM's headquarter at Azizabad here and met with members of the party's Rabita Committee. They held a meeting with MQM leaders whose party Chief Altaf Hussain also talked to them via telephone from London. Deputy Convener MQM Rabita Committee, Dr Farooq See # 9 Page 11
American consulate officials visit Davis LAHORE: The officers of US consulate in Lahore, including doctors visited US national Raymond Davis at Kot Lakhpat Jail here on Friday and discussed progress and legal aspects of the double-murder case. On the occasion, the doctors also performed a physical check-up on Davis. The US officials, sources said, also reviewed facilities being provided to Raymond Davis in the prison.-INP
PM prompts Shaikh to straighten out circular debt ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has asked the Minister for Finance Dr Abdul Hafeez Shaikh to hold a meeting with the Secretary Petroleum, Secretary Water and Power and Secretary Railways at the earliest to resolve the circular debt issue. Gilani gave this direction in a meeting with the Secretary Petroleum Imtiaz Qazi and MD PSO Irfan Qureshi at PM House here on Friday. The Secretary Petroleum briefed the Prime Minister about circular debt issue. He also apprised him of energy situation particularly gas supply in the country.-NNI Larkana Din Mohammad Baloch and DIG Gilgit Farman Ali and others. These officers were reemployed on contract basis after their retirement. It may be recalled that SC had ordered federal and provincial governments that reemploying the retired employees on contract basis was illegal, therefore, they be removed from service forthwith. Establishment Division would issue notification about the officers who had been removed from service on this account. Meanwhile, Prime Minister, under, the pressure of Presidency, could not remove Malik Asif Hayat and Salman Farooqui who were also reemployed on contract basis and
appointed at Aiwan-e- Sadr. Well placed sources revealed that PM Friday issued marching orders for the retired officers who were re-employed on contract basis. PM has, however, not removed Malik Asif Hayat who is secretary to President Asif Ali Zardari and is a retired Grade-22 officer. Salman Farooqui, secretary general of Aiwan-e-Sadr is also a retired officer and he is enjoying the status of federal minister. He has also not been removed from his post owing to presidency dictums. Contract officers who have been removed due to Supreme Court orders have demanded of PM to also kick out contract officers appointed at Aiwan-eSadr.-Agencies
Plea for a Rs28/mmbtu raise maybe heard in Mar
SNGPL makes big case for tariff hike ISLAMABAD: Sui Northern Gas Pipeline Limited (SNGPL) has lodged an application with Oil and Gas Regularity Authority (OGRA) to raise gas tariff for next fiscal year (FY12). According to a private TV channel, the company has applied for the approval of Rs28 per mmbtu raise in tariff for FY12. The company says it would face a shortfall of Rs17 billion if their request is denied. SNGPL added that due to inflation the operational cost has increased and during FY12 company's sales volume would decrease from Rs61 billion to Rs60 billion. Petition letter also said that the transmission and distributions losses would increase
from Rs27 to Rs37.29 per mmbtu, thus it needs to raise Rs28 per mmbtu for the next fiscal year. According to details Ogra is likely to take up SNGPL petition in the first week of March. Moreover, Ogra has invited interested or affected persons, including gas consumers and general public to furnish their comments, suggestions, and intervention requests within 21 days from the date of publication of the notice in terms of Rule 7 of the Natural Gas Tariff Rules, 2002. All the correspondence in this connection should be addressed to Registrar Ogra and should contain the names and addresses of the applicants.Online
7M C/A blank fills up 97.3pc Ghulam Raza Rajani KARACHI: Pakistan's current account deficit shrank by 97.3 per cent to $81 million during the first seven months of current fiscal year 2010-11 from $3.05 billion in the same period of last year, State Bank of Pakistan's data showed Friday. Trade deficit during the period stood at $6.38 billion lowering by 5.6 per cent against $6.76 billion in same period last year. Credit for this decrease goes to higher export which was spurred by massive increase in cotton prices. The deficit on account of services improved to stand at $718 million in 7MFY11, ver-
sus $1.78 billion recorded during 7MFY10. That's why deficit on trade of goods & services --combined-came down by 16.9 per cent to $7.10 billion from $8.54 billion same period last year. Similarly, deficit on the income side was $1.64 billion, it reduced by 8.6 per cent from $1.8 billion same period last year. On the other hand, net current transfers hiked by 18.9 per cent to reach $8.66 billion against $7.28 billion in 7MFY10 mainly due to an increase in workers remittances by 17.7 per cent ( up at $6.12 billion) during the abovementioned period.
2 Saturday, February 19, 2011
Plea to enforce law against sexual harassment
ISLAMABAD: Prime Minster Syed Yousuf Raza Gilani talking to Irfan Qureshi, MD, PSO who called on him at PM House.-APP
Coca-Cola unveils Junoon flag Staff Correspondent LAHORE: A Junooni flag, composed of over two hundred and sixty thousand pictures and conceived and brought to life by CocaCola, was officially unveiled for public viewing at the Model Town Park, Lahore. Personalized goodwill messages, painstakingly gathered from fans nationwide, have been put together to form the mammoth photo-mosaic, measuring one hundred feet in height and one hundred and fifty feet in width. This unique and recordbreaking effort embodies the support and passion that the people of this cricket loving nation hold for their team. At the event a large group of cricket enthusiasts from all walks of life, led by the legendary Chacha Cricket, displayed the flag proudly to the accompaniment of the rhythmic beats of CocaCola's cricket fans' anthem. The grand show of national spirit was greatly appreciated by both young and old present at the occasion. Addressing the gathering, Fahad Qadir, Public Affairs and Communications Manager of Coca-Cola Pakistan, spoke movingly about the passion and love that we as a nation have for the game of cricket.
Strategy devised to make Lhr drug free Staff Correspondent LAHORE: Deputy Director General Anti Narcotics Force Altaf Qamar has said that a multi-pronged strategy has been evolved to make Lahore a drug free city in three years time as six lakh people are joining the club of drug users every year in Pakistan. He was speaking at the Lahore Chamber of Commerce and Industry on Friday. LCCI Senior Vice President Sheikh Mohammad Arshad and a number of Executive Committee members including Mian Zahid Javaid, Mohammad Yousaf Shah and Khawaja Khawar Rashid also spoke on the occasion. Elaborating the pros and cons of the strategy, the Deputy Chief of AntiNarcotics Force said that as the drug dens and drug traf-
fickers have been identified therefore in the first phase these sources will be smashed. Then mass awareness and community mobilization campaigns would be launched against drug abuse especially among the target groups (youth and labor). Treatment and rehabilitation of drug addicts and promotion of health activities is also part of the strategy. Altaf Qamar said that Lahore would be turned in different zones and that zones would be handed over to NGOs of good repute to launch drug demand reduction activities. Giving Pakistan's drug scenario, the ANF Deputy Chief said that the total drug users in the country are nine million out of which 1.5 million are opioids, 0.750 million are heroin users and another 0.2 million take drugs through injection.
He said there are around thirty million smokers in the country while one lakh people die every year only because of smoking related diseases. He said that a crackdown on the cafes offering Shisha is also on the cards as one hour smoking of Shisha is more harmful than smoking of 200 cigarettes. The LCCI Senior Vice President Sheikh Mohammad Arshad appreciated the project and promised his commitment to achieve the goal of Drug Free Lahore. He said that the Lahore Chamber of Commerce and Industry would play its role fully for community mobilization. He said that seminars and lectures in collaboration with AntiNarcotics Force would be arranged at the Lahore Chamber of Commerce and Industry to make the project a big success.
NBP’s remittance facility in Madina KARACHI: National Bank of Pakistan (NBP) has formally launched instant, reliable, convenient and absolutely free remittance product in Madina region of Kingdom of Saudi Arabia. According to NBP sources here, the product with the brand name of "NBP FOREE CASH" was launched on 12th Rabi-ul-Awwal. This instant remittance product is available from all centers of Tahweel Al Rajhi to facilitate the large Pakistani community for sending instant remittances to their families at home. It is a cash-to-cash remittance delivery product through which beneficiaries from across Pakistan can receive home remittances in minutes from their loved ones abroad.-APP
Dawlance launches latest microwave TFD Report
LAHORE: Women activists of All Pakistan Muslim League holding posters of former President Pervez Musharraf during a demonstration in his favour outside Lahore Press Club.-Online
LG unleashes WC campaign TV PROGRAMMES SATURDAY Time Programmes 7:00 8:00 9:05 11:00 11:30 12:00 13:10 14:10 15:00 16:00 17:30 18:00 18:30 19:00 19:30 20:03 21:00 22:03 23:00 23:30
News News Subah Savere Maya ke Sath News Hal Kya Hai (Rpt) News Newsbeat (Rpt) Tonight With Jasmeen (Rpt) News News Samaa Metro News Aap Ki Baat News Crime Scene Newsbeat News Awam Ki Awaz News 24
TFD REPORT KARACHI: LG Electronics, Global Digital Leader and one of the major sponsors of cricket world cup Friday unleashed its marketing and promotional campaign for cricket world cup 2011 titled 'LG LAO WORLD CUP JAO'. The world cup campaign details were announced at a press conference held at
LG Care and Delight Center in Karachi. The campaign aims to bring excitement among the cricket lovers by offering exotic instant prizes on purchase of any LG product during the 8week campaign. Among various prizes being offered by LG Electronics, the grand prize is a trip to Sri Lanka and an opportunity to watch cricket match involving Pakistan.
KARACHI: Dawlance, the no. 1 home appliances brand of Pakistan has announced a new addition to its H-Zone series of Microwave Ovens by introducing DW 391 HZ. This latest microwave oven is the 1st ever microwave oven to introduce 56 built-in recipes which have been developed by Chef Gulzar in accordance with local tastes and preferences. With the most-wanted cooking features combined in a single microwave oven, DW 391 HZ would give Pakistani housewives a reason to pamper their loved ones with a choice of recipes ranging from traditional Pakistani cuisines to delectable international recipes. DW 391 HZ with its unique grill feature offers an array of recipes for making appetizers, main course meals and deserts. Commenting on the announcement of new DW-391 HZ microwave oven, Ms Naushin Shahid, Category Manager, Microwave Ovens, Dawlance Group of Companies said, "At present, DW-391 HZ is a star model not only for Dawlance but in the market as well.
ISLAMABAD: Sexual harassment was one of the biggest issues that women, especially face in the public area and at work place. Mahfooz Elahi, President, Islamabad Chamber of Commerce and Industry (ICCI) made these remarks, while addressing a seminar on "Protection against Harassment of women at work place act 2010" jointly organized by ICCI and Alliance Against Sexual Harassment At the workplace (AASHA) at the Chamber. He said that it was a good initiative that would provide due legitimate protection to the women at public and work places and could be a turning point in changing people's mind sets. ICCI President lauded AASHA's efforts in dealing with the issues of sexual harassment aimed for policy change and cultural transformation of organizations to address sexual harassment issues. He said every public and private organization should ensure the adoption of the Code of Conduct for Gender justice. The support of the top leadership and management was not only a pre-requisite for the implementation of the law but could also facilitate its smooth applicability, he opined. Speaking on the occasion, Dr Fouzia Saeed, Director and founding member of AASHA said that despite the proactive role of certain organisations, the implementation process of the act was slow.-INP
Anti competitive practices
CCP probes ghee, edible oil refiners alleged cartelisation Staff Correspondent ISLAMABAD: The Competition Commission of Pakistan (CCP) Friday conducted search and inspection of the offices of the Pakistan Vanaspati Manufacturers Association (PVMA) and Pakistan Edible Oil Refiners Association (PEORA) in Islamabad and Karachi to impound documentary proofs of the Associations' alleged involvement in anti competitive practices. CCP took notice of continuously rising ghee/cooking oil prices as reported in various media sources. Ghee and cooking oil are very important commodities and concerns have been raised that historic increase in prices may have been the result of possible
anti competitive practices by the manufacturers. Similarly, the findings of a Competition Assessment Study of Cooking Oil and Ghee Sector in Pakistan, recently conducted by CCP has highlighted that despite a thin diffusion of market share across about 100 firms, there are certain instances inviting concern from a competition perspective. It has also argued that the industry is able to thrive even while maintaining capacity utilization of less than 50%, which points to absence of competitive pressure particularly in the middle market segment. It has also been observed that price increase in different categories and brands of ghee/cooking oil has always taken place in par-
allel manner. Upon further examination of media reports it has also been noticed that the price increase is often referred to a collective decision of all manufacturers, or their association, resulting in simultaneous increase in price, says a press release of the CCP. It is a norm of competitive markets that decisions are taken and implemented independently by competitors. However, simultaneous increase in the prices of ghee and cooking oil by equal amounts at various occasions prima facie raises suspicion of collusive behavior and collective decision in the ghee and cooking oil industry. Such collusive behavior is prohibited under Section 4 of the Competition Act, 2010.
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah presiding a meeting of Revenue Department at Chief Minister House.-APP
‘Better law & Book on Religious order, continuity Mobilization in of policies must FATA launched for economy’ I S L A M A B A D : Ambassador of China to Islamabad Liu Jian has said that Pakistan is a gifted nation that fulfils all the prerequisites to become an economic power. Improved law and order coupled with continuity of enabling economic policies can attract huge investment in this great business destination. He said that over 10,000 Chinese are already serving Pakistan; enhanced stability will persuade many to make a beeline for business in Pakistan, a close friend and a trusted ally. Speaking to business community at the residence of Raza Khan, Chairman Coordination, FPCCI, he said that China will continue to provide unconditional support to Pakistan and expand cooperation in various fields including energy. "I frequently meet President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani; they are very concerned about economy and want
improvement," he said. The ambassador said current bilateral trade volume is $8.7 billion, up by $2 billion from last year, which is unsatisfactory as it can be increased manifold. Liu Jian informed that China plans to encourage private sector investments in Pakistan. Industrial and Commercial Bank of China Limited will soon commence operations here, he said. "I am determined to implement all the decisions taken during the visit of Premier Wen Jiabao to Pakistan by yearend to boost economy of Pakistan," he said. Inviting FPCCI officials to visit China to explore opportunities, he said Chinese enjoy extremely encouraging response in Pakistan while every Pakistani is regarded as a special guest in his country. On the occasion, Raza Khan said that number of Pakistani products enjoying zero tariffs in China should be doubled to cut trade imbalance. He was assured that the matter would be finalised in the first quarter.-INP
Staff Reporter KARACHI: A book titled 'Frontier of Faith: A History of Religious Mobilization in the Pakhtun Tribal Areas' was officially launched at a ceremony held at the IBA Main Campus Auditorium on Friday. The book has been written by Dr Sana Haroon, Assistant Professor Social Science at IBA, and published by Oxford University Press Pakistan. This book examines the history of Islam in the North West Frontier region of Pakistan. A largely autonomous zone, the Tribal Area was established as a strategic buffer zone for British India, and the resulting autonomy allowed local clerics to assume roles of tremendous power. After Partition in 1947, the region maintained its autonomy as the Federally Administered Tribal Areas (FATA).
Consequently, the Frontier has remained the hinterland of successive, contradictory jihads in support of Pashtun ethnicism, anti-colonial nationalism, Pakistani territorialism, religious revivalism, Afghan anti-Soviet resistance, and antiAmericanism. As questions of the security of Pakistan's Western border areas remains pressing, there wouldn't be a better time for a sourcebook detailing the intricacies of leadership and mobilization in this region. The launch of the book was followed by a panel discussion on "the historical legacies and contemporary crisis of the Federally Administered Tribal Areas" with Journalist and bestselling author Ahmed Rashid and Senator and Provincial President of Awami National Party, Afrasiab Khattak.
Businessmen demand good transport KARACHI: Businessmen and experts at a consultative meeting have called for the introduction of an efficient, rapid and safe public transport facility in Karachi on urgent basis. The meeting was held by Korangi Association of Trade and Industry (KATI) which discussed Social Environment Study for Karachi Transportation Improvement Project and
seek the opinion of businessmen and other stakeholders. KATI Chairman Johar Qandhari, Director Karachi Mass Transit Cell (KMTC) Engr Ghulam Rasool, a team of Japan International Cooperation Agency (JICA) led by Minoru Shibuya, industrialists, experts, NGOs/CBOs and environmentalists were also present on the occasion.-PR
LAHORE: In Jae Lee - Samsung CE Division Head,. Mian Mohammad Fazal, Chairman Orient Group. Shaikh Abdul Hai, CE Service Representative, Homaeer Waheed, Director Operations Orient Group, Inam-ul-Haq Butt, National Manger Customer Support inaugurating Samsung Customer Service Plaza for AV and HA Products at Chamberlain Road.-Staff photo
3 Saturday, February 19, 2011
Euro bounces on ECB rate hike talk; Bernanke, G20 eyed
Previous Day
PPI data, which showed its largest monthly increase in producer prices since mid 2008, lends credence to Bini Smaghi's statement. "The rhetoric has shifted and become more hawkish and it seems the ECB is setting themselves up to tighten monetary policy, which I see happening within next couple of months," he said. After $1.3650, the 100-day moving average, the top is at $1.3736, he said. Foreign exchange options are trading in tight ranges ahead of the US Presidents Day holiday on Monday, keeping implied
volatility close to long term lows. The Australian dollar briefly hit a session low of $1.0088 against the US dollar after China's central bank raised its bank
reserve requirement for the second time this year, following up on an interest rate rise earlier this month. It was last trading nearly flat at $1.0112. Investors kept a wary eye on tensions in the Middle East and North Africa as protests continued in Bahrain, Libya,
Yemen and Iran, which some analysts said helped to support the Swiss franc, a traditional safe-haven currency. The Swiss franc hit its highest against the euro in two weeks at 1.2895 per euro. Federal Reserve Chairman Ben Bernanke defended easy money policies in advanced economies against the charge they are overheating emerging markets, saying factors such as exchange rate rigidity are also to blame. Bernanke was speaking ahead of a meeting of G20 finance ministers and central bankers starting later in the day. Traders expect few new developments regarding addressing global imbalances or any agreements on currencies to emerge. The dollar rose against the yen for the first time in three days and was last at 83.38 yen up 0.1 per cent. -Reuters
Yuan at record high Rupiah hits 3-1/2 yr high on PBOC guidance Asian currencies
on talk of foreign inflows SINGAPORE: The Indonesian rupiah hit a 3-1/2year high on Friday, buoyed by heavy demand from foreign banks, and Asian currencies rose broadly as the dollar came under pressure following a dip in short-term US yields. Market players said the rupiah rose despite dollar-buying intervention by Indonesia's central bank and climbed to a peak around 8,850, the rupiah's highest since June 2007. The rupiah has pushed higher after Bank Indonesia raised interest rates earlier this month, soothing worries that the central bank may be falling behind the curve on inflation. A Jakarta-based trader said "huge" orders to sell dollars
around the time of the local fixing helped spur the renewed slide in the dollar against the rupiah. "So market was given down... Foreign selling of course," the trader said, adding that the central bank was seen supporting the dollar at levels around 8,870 at one point. Other market players said the dollar was pressured against the rupiah by heavy selling from foreign banks, said to be related to inflows into shortterm Indonesian debt. The rupiah's rise came on a day when Asian currencies climbed broadly, with currencies such as the South Korean won, Taiwan dollar and Indian rupee also posting solid gains. "US yields turned lower with
Sterling gains on rate hike expectations LONDON: Sterling hit a twoweek high versus the dollar on Friday after UK retail sales rebounded far more than expected in January, adding fuel to talk of a Bank of England interest rate hike in the coming months. UK retail sales jumped 1.9 per cent in January, more than three times the rise expected.
bulls seem to be in the ascendency right now." Markets have almost fully priced in a 25 basis point rate hike in May. Sterling rose around one US cent from the day's lows to $1.6248, its highest since Feb. 3, before easing to $1.6226, up 0.3 per cent on the day. Traders said stops were hit
This encouraged investors to continue buying the pound on the view that high inflation will soon force the central bank's hand. However, the stellar headline figures were offset by a steep downward revision to the figures for December, when heavy snow caused the biggest December month-on-month fall in sales volumes on record. "The market wants to buy sterling at the moment, so anything that provides ammunition to the view that rates are going higher will support it," said Neil Mellor, currency strategist at Bank of New York Mellon. "Everyone thinks UK interest rates are going higher and the
earlier through $1.6230, though offers were reported at $1.6250. Nearby resistance was at $1.6279, the year's high hit in January. Sterling pared gains against the euro, however, as the single currency gained broadly on talk that the European Central Bank could raise interest rates following reported comments by an ECB official. The euro fell to a session low of 83.58 pence, a shade above the recent one-month low of 83.56 pence, before later recovering to trade flat at 84.07. Traders highlighted a large option expiry at 84.00 pence which they said may have influenced price action. -Reuters
quite a bit of momentum and that's why the dollar is being sold across the board against Asian currencies," said a trader for a major Japanese bank in Singapore, referring to the previous day's drop in short-term US yields. The dollar dipped against the peso before running into central bank intervention with market players saying the Philippine central bank (BSP) bought around $150 mln. Traders said Malaysia's central bank was detected bidding for dollars earlier near 3.3070, and this later triggered a modest round of short-covering in the dollar. But the dollar failed to sustain its gains, and dipped 0.2 per cent against the ringgit. -Reuters
Swiss franc holds firm SYDNEY/TOKYO: The Swiss franc held near twoweek highs on Friday, having powered higher on mounting Middle East tensions, while the US dollar lost steam, putting its rebound this month from a three-month low at risk. The Swiss currency, traditionally sought in times of heightened geopolitical tension, stayed near two-week highs versus the dollar and euro as unrest spread across the Middle East and North Africa. Anti-government protesters from Bahrain to Iran were hoping to emulate those who toppled veteran leaders in Egypt and Tunisia. The dollar stood at 0.9505 francs, having fallen as low as 0.9474 francs on Thursday, its lowest in about two weeks, while the euro fetched 1.2922 francs, having plumbed 1.2890 francs on Thursday, also a twoweek low. The dollar was also broadly weaker against a basket of major currencies as US bond yields declined slightly and expectations of a Federal Reserve rate hike failed to gain momentum. A surprisingly large increase in initial jobless claims signalled wages were unlikely to pick up any time soon, reducing expectations of a rate hike by the Federal Reserve this year. -Reuters
Aussie & NZ dlrs catch ride on commodity bandwagon SYDNEY/WELLINGTON: The Australian and New Zealand dollars stood firm on Friday, with the Aussie heading for a weekly rise of 1.5 per cent as strong commodity prices augured well for the domestic economy. The Australian dollar edged up to $1.0125, one of the top three performing currencies this week and not far from December's 28-year peak around $1.0257. The result was all the more impressive as tumult in the Middle East sparked risked aversion, making the safe-heaven Swiss franc the clear winner of the week, with a 2 per cent rise. The Aussie and Swiss francs typically move in opposite directions at times of crisis. "I am surprised we've done as well as we've done," said Robert Rennie, chief currency strategist at Westpac Bank. "We are watching flash points in the Middle East somewhat nervously, yet crosses like Aussie/yen and kiwi/yen have been marching onwards and upwards. That's a sign of resilience." Indeed, the Aussie stands at a 10-month high
around 84.32 yen, after finally cracking up through 83.75, a key resistance level, opening the way for a run to 86.00. It gained nearly one per cent this week. The kiwi rose to a one-week high of 63.36 yen. Improving US economic data from the US also lifted risk sentiment for high yielding currencies. "It's a sweet spot for risk sentiment, it's a sweet spot for liquidity; US economy is hot but not too hot; inflation around the world is hot but not too hot; that's helping the Aussie," Rennie added. Broad weakness in the dollar and a bull run in commodity prices certainly bolstered appetite for the Australian dollar. Asia's insatiable appetite for commodities gave a kick to the NZ dollar. It was nearing a week high at around $0.7607, fully recovering the week's early drop to a two-month low of $0.7505 caused by more dismal domestic data. The kiwi was also dragged higher by its Aussie cousin with resistance starting at $0.7600, then heavy barriers at about $0.7666, while support was at $0.7538. -Reuters
SHANGHAI: The yuan recorded its highest ever closing against the dollar on Friday after the central bank fixed the mid-point at a record for a second day, in a clear sign the government is willing to let the Chinese currency appreciate to help fight inflation. Traders have long predicted the yuan will appreciate 5 to 6 per cent this year. China is expected to use the currency as part of its strategy to fight high consumer inflation, which was 4.9 per cent in January. Spot yuan closed at 6.5732 against the dollar, up from Thursday's close of 6.5871 and having now risen 3.85 per cent since its depegging from the dollar in June 2010. It touched an intraday high of 6.5721 and low of 6.5875. Before trade began, the People's Bank of China set the yuan's daily mid-point at 6.5781, up from Thursday's fixing of 6.5800. On Thursday, PBOC governor Zhou Xiaochuan reiterated that Beijing would decide the pace of yuan appreciation on its own and would not take into account
pressure from other countries. While Beijing is partly worried a rapid yuan appreciation will hit exports and employment in the world's most populous nation, it has nevertheless allowed the currency to appreciate by about 26 per cent against the dollar since the landmark revaluation in July 2005. Dollar/yuan offshore forwards rose slightly on Friday to imply less yuan appreciation after US Federal Reserve officials raised their forecasts for economic growth. Benchmark one-year dollar/yuan non-deliverable forwards were bid at 6.4200 in late trade versus 6.4160 at Thursday's close. Their implied yuan appreciation in a year's time fell to 2.47 per cent from 2.53 per cent. NDF-implied yuan appreciation has persistently lagged market expectations over the past couple of months as dealers said hedge funds, the main players in the forwards, cut back on exposure to Asian emerging markets in favour of dollar assets as the US economy recovers. -Reuters
Indian rupee off 1-mth peak as shares slide MUMBAI: The Indian rupee retreated from a one-month high on Friday as domestic shares gave up early gains to close sharply lower, while a reversal in the dollar's losses versus majors in late trade also hurt. The partially convertible rupee closed at 45.1950/2050 per dollar, after touching 45.1650 -- its strongest since Jan. 14, and 0.3 per cent above its 45.34/35 close on Thursday. On the week, the rupee rose 1.1 per cent, its best weekly rise since the Dec. 5 week, when it had gained 1.6 per cent. "Rupee bounced off its highs today because of the fall in equities. Even oil companies kept buying dollars (as seen in recent sessions)," said Rohan Naik, head of foreign exchange trading at Standard Chartered Bank in Mumbai. "If inflows continue next week, we might shift to a lower range; so broadly expect a band of 45.00-45.50 next week." Traders said the rupee could likely break below the 45 per dollar mark provided inflows into equities continue and the dollar's moves versus other majors stay supportive.
Events
CNY EUR GBP GBP CAD CAD
CB Leading Index m/m German PPI m/m Retail Sales m/m Prelim Mortgage Approvals Core CPI m/m CPI m/m
Actual
Forecast
-0.5% 1.2% 1.9% 41K 0.0% 0.3%
0.6% 0.6% 46K 0.2% 0.3%
Previous
0.5% 0.7% -1.4% 43K -0.3% 0.0%
Currencies Rate
Focus on US Fed Chairman Bernanke, G20 meeting New York: The euro gained broadly on Friday on heightened expectations the European Central Bank will raise interest rates, but technical factors and renewed sovereign debt concerns were seen limiting the European currency's upside. Traders cited a Bloomberg report that quoted ECB policymaker Lorenzo Bini Smaghi saying the central bank will be ready to tighten policy as price pressures mount, as the euro's driver. The euro reached a session high of $1.3646 after the report but selling interest just above the 21-day moving average of $1.3650 slowed its advance, according to IFR markets. But traders said the market may make another run at that level. It was last up 0.2 per cent at $1.3628. Sacha Tihanyi, currency strategist at Scotia Capital in Toronto, said Germany's
Source
Between Monday and Thursday foreign funds have bought shares worth nearly $110 million. However, so far in 2011, they are net sellers of $1.6 billion worth of shares, after purchasing a record $29.3 billion in 2010. One-month offshore non-deliverable forward contracts were quoted at 45.42, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange closed at 45.2375, 45.2425 and 45.2450 respectively, with the total traded volume at about $5.8 billion. -Reuters
Name ;EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3614 1.3643 0.9512 0.9537 1.6237 1.6246 0.9833 0.9850 1.0118 1.0137 113.4200 113.7600 0.8389 0.8421 1.2947 1.2990 135.2000 135.4300 87.6200 87.7600 1384.9500 1388.2500
Bid 1.3611 0.9506 1.6232 0.9829 1.0114 113.3700 0.8385 1.2943 135.1400 87.5700 1384.5000
Low 1.3544 0.9491 1.6152 0.9819 1.0091 112.9500 0.8360 1.2896 134.4700 87.4700 1381.5500
London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 18/02/2011 A USD GBP CAD EUR JPY O/N 0.22950 0.55625 0.97250 0.46875 SN 0.10438 1WK 0.25100 0.57563 1.00333 0.67875 0.11250 2WK 0.25600 0.58313 1.03750 0.74500 0.11563 1MO 0.26200 0.61088 1.08250 0.82125 0.12750 2MO 0.28650 0.68125 1.15000 0.91500 0.15313 3MO 0.31250 0.80175 1.21083 1.03250 0.19000 4MO 0.35300 0.88425 1.27833 1.10625 0.24313 5MO 0.41000 0.99025 1.34250 1.19375 0.30000 6MO 0.46550 1.10713 1.40667 1.28750 0.34625 7MO 0.51800 1.18750 1.49083 1.34500 0.39500 8MO 0.57175 1.27375 1.57800 1.40375 0.44313 9MO 0.62925 1.35750 1.65250 1.47000 0.48875 10MO 0.68275 1.43750 1.74917 1.52500 0.51563 11MO 0.73500 1.50688 1.83667 1.58125 0.54250 12MO 0.79500 1.57563 1.92667 1.65000 0.56875
Major Central Banks Overview Central Bank
Next Meeting
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Last Change
March 1, 2011 September 8, 2010 March 10, 2011 March 5, 2009 March 15, 2011 December 19, 2008 March 3, 2011 May 7, 2009 March 15, 2011 December 16, 2008 March 17, 2011 March 12, 2009 March 1, 2011 November 2, 2010
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, February 18,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.50 138.28 116.40 86.85 90.01 86.56 13.35 1.03 14.99 67.04 15.61 22.80 10.98 13.00 305.19 28.15 65.03 23.50 23.28 0.08 2.79
85.30 137.96 116.12 86.65 89.80 86.36 13.32 1.02 14.96 66.88 15.58 22.75 10.96 12.97 304.48 28.08 64.88 23.44 23.22 0.08 2.79
85.12 137.64 115.85 86.42 89.57 86.13 13.29 1.02 14.92 66.70 15.54 22.69 10.93 12.93 303.68 28.01 64.71 23.38 23.16 0.08 2.78
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 18, 2011
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 30--years
KASB 12.80 12.85 13.00 13.10 13.37 13.48 13.62 13.68 13.78 14.10 14.15 14.18 14.20 14.21 14.22 14.22 14.20 14.20 14.50 14.75 14.90
BMA 12.85 12.90 13.00 13.10 13.32 13.42 13.58 13.63 13.74 14.10 14.15 14.20 14.22 14.28 14.30 14.25 14.14 14.18 14.55 14.70 14.85
ELXIR 12.70 12.80 12.85 13.15 13.37 13.48 13.57 13.67 13.78 14.03 14.21 14.22 14.23 14.28 14.30 14.23 14.16 14.19 14.50 14.67 14.88
GSL 12.80 12.85 12.90 13.10 13.37 13.50 13.60 13.66 13.78 14.05 14.17 14.19 14.22 14.23 14.25 14.23 14.22 14.18 14.55 14.90 15.10
ICSL 13.10 12.95 13.00 13.28 13.31 13.45 13.50 13.60 13.70 14.05 14.18 14.22 14.18 14.30 14.35 14.23 14.20 14.18 14.60 14.75 15.00
JSCM AvgRate 12.70 12.83 12.80 12.86 12.90 12.94 13.00 13.12 13.35 13.35 13.40 13.46 13.57 13.57 13.65 13.65 13.75 13.76 14.00 14.06 14.15 14.17 14.18 14.20 14.22 14.21 14.23 14.26 14.30 14.29 14.21 14.23 14.17 14.18 14.18 14.19 14.50 14.53 14.75 14.75 15.00 14.96
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.67 0.19 0.27 0.65 0.74 0.18
0.39 -0.08 0.54 0.62 0.03 0.54
0.83 0.71 0.54 0.90 0.66 0.56
0.43 0.48 0.83 0.88 0.40 0.71
0.16 0.16 0.85 0.82 0.72 0.80
0.91 0.48 0.63 0.68 0.63 0.23
USD/CAD USD/CHF 0.81 0.28 -0.30 -0.45 -0.60 -0.07
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)18/02/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.50
13.00
12.50
12.50
13.00
12.60
13.10
13.35
13.60
13.60
13.60
13.70
14.20
13.80
14.30
14.00
JSBL
12.50
13.00
12.60
12.65
13.15
12.90
13.40
13.40
13.65
13.60
13.60
13.70
14.20
13.80
14.30
13.90
ASPK 12.40
12.90
12.65
12.65
13.15
12.80
13.30
13.40
13.65
13.50
13.50
13.60
14.10
13.75
14.25
13.85
CIPK
12.50
13.00
12.60
12.60
13.10
12.70
13.20
13.40
13.65
13.60
13.60
13.70
14.20
13.90
14.40
14.10
DBPK 12.60
13.10
12.70
12.70
13.20
12.75
13.25
13.30
13.55
13.40
13.40
13.50
14.00
13.60
14.10
3.80
FBPK 12.45
12.95
12.65
12.65
13.15
12.90
13.40
13.45
13.70
13.55
13.55
13.70
14.20
13.80
14.30
13.90
FLAH 12.70
13.20
12.75
12.75
13.25
12.80
13.30
13.40
13.65
13.50
13.50
13.60
14.10
13.75
14.25
13.85
HBPK 12.40
12.90
12.65
12.65
13.15
12.80
13.30
13.40
13.65
13.55
13.55
13.65
14.15
13.75
14.25
13.85
HKBP 12.60
13.10
12.80
12.80
13.30
12.85
13.35
13.35
13.60
13.50
13.50
13.60
14.10
13.75
14.25
3.85
NIPK
12.45
12.95
12.75
12.75
13.25
12.95
13.45
13.30
13.55
13.40
13.40
13.50
14.00
13.60
14.10
13.70
HMBP 12.65
13.15
12.75
12.75
13.25
12.85
13.35
13.40
13.65
13.50
13.50
13.60
14.10
13.70
14.20
13.80
SAMB 12.50
13.00
12.70
12.70
13.20
12.80
13.30
13.35
13.60
13.50
13.50
13.65
14.15
13.75
14.25
13.85
MCBK 12.50
13.00
12.60
12.60
13.10
12.75
13.25
13.35
13.60
13.50
13.50
13.60
14.10
13.70
14.20
13.80
NBPK 12.35
12.85
12.60
12.60
13.10
12.70
13.20
13.35
13.60
13.50
13.50
13.70
14.20
13.80
14.30
13.90
SCPK 12.40
12.90
12.55
12.55
13.05
12.65
13.15
13.30
13.55
13.45
13.45
13.60
14.10
13.70
14.20
13.80
UBPL 12.50
13.00
12.70
12.70
13.20
12.80
13.30
13.40
13.65
13.50
13.50
13.65
14.15
13.80
14.30
13.90
AVE
12.99
12.67
12.67
13.17
12.79
13.29
13.38
13.63
13.51
13.51
13.64
14.14
13.76
14.26
13.86
12.49
-0.57 -0.68 -0.28 -0.60 -0.66 -0.38
4 Saturday, February 19, 2011
The Composition of Pakistani Taliban
The Financial Daily International Vol 4, Issue 185
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi 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)
Farooq Adil
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir
here had long been a debate as to who the Taliban operating against Pakistan security forces actually are and how they are different from the Afghan Taliban operating against the US and allied forces in Afghanistan. The "slain" Col Imam in Geo TV's Jawabdeh program had revealed that he was in possession of a letter written by Mullah Omar, the Amir of Afghan Taliban, declaring that his Tehrik has nothing to do with the Pakistani groups of Taliban and that he is not against Pakistan and its security forces, thus the terrorists operating against Pakistan are not working under his command. If it is so, then who are the Taliban (TTP) involved in acts of terrorism against the Pakistan security forces and at public places across Khyber-Pakhtunkhwa and Punjab? According to information gathered from downloads and media reports in South Waziristan, three Mesud tribe's groups (Baitullah Group, Shehryar Group, Said Alam Group), seven
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Rulers know what's afoot? In the aftermath of Raymond Davis case a question being raised is whether the people at the helm of affairs know what is happening in the country? One may condone favoritism and nepotism and even corruption but compromising on the security and sovereignty of the country seems too careless an attitude. In this particular case while ministry of foreign affairs remained silent all and sundry, particularly the television channels continued to play it up and it seems that policy planners are reaching point of no return. A quick response to the question of immunity enjoyed by Davis could have faced both Pakistan and the US from embarrassment. Now people are asking how many thousand Raymond Davis are operating in the country. Earlier, disappearance of thousands of Nato/ISAF containers destined for Afghanistan has raised the question about the vigilance of customs authorities and border forces. It is true that Pak Afghan border is most porous but unchecked movement of the containers raises many questions. The bottomline is that some supra force was controlling clearance and movement of these containers. Burning of dozens of oil tankers taking fuel supply to Afghanistan still remains a mystery. One question comes to the mind is who was taking the hit or who was paying the compensation for the tankers burnt and drivers killed. There was certainly some incentive for those involved in this highly risky operation. Some cynics may say that all that is part and parcel of fighting a proxy war, in which Pakistan was dragged in seventies and couldn't come out of this in last four decades. Fighting the proxy war has not only devastated Pakistan's economy but growing militancy, touching the level of insanity is fragmenting the nation which is the preamble of pushing the country into anarchy. Added to this are the heaps of weapons gathered in almost every nock and corner of the country and the rising population of drug addicts. The drug peddlers seem completely free and law enforcing agencies to weak to check them. People even go to the extent of saying that now personnel of these agencies openly ask for their share in the booty. The root cause of this madness is lust for power and money. Since top strata of the society is involved in heinous crimes the lower strata has no option but to join them to make its life easier and full of comforts. Every one involved in this mad race knows his/her fate but is willing to join the bandwagon because now a person is respected for the wealth he owns and no one bothers to ask about the illgotten wealth.
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
T
Ahmedzai Wazir tribe's groups (Mullah Nazir Group, Noor Islam Group, Haji Sharif Group, Haji Omar Group, Ghulam Jan Group and Javed Group), and three Bhittani tribe's groups (Awal Khan Group, Angaar Group, Bhittani Group) are active, while in North Waziristan three Utmanzai Wazir tribe's groups (Haji Gul Bahadar Group, Wahidullah Group and Saifullah Group) and five Daur tribe's groups (Daur Group, Khaliq Haqqani Group, Abdul Rehman Group, Manzoor Group and Haleem Group) are operating. Similarly in Bajaur Agency, Mohmand tribe's Maulvi Faqir Group (TNSM) and four Bajaur tribe's groups (Tehrik e Jaish e Islami, Karawan Naimatullah, Dr. Ismael Group and Maulana Abdullah Group) are working, while in Mohmand Agency Qandahari tribe's Omar Group and Mohmand tribe's Shah Sahib Group are operating. Besides, the banned extremist organizations' absconders (proclaimed offenders) are operating with or without allegiance to TTP
in the FATA, Balochistan, Punjab, Sindh, Kashmir and GilgitBaltistan areas of Pakistan. These organizations include Lashkar-eJhangvi (LeJ), Sepah-eMuhammad Pakistan (SMP), Jaishe-Muhammad (JeM), Khuddam-ulIslam (ex-JeM), Lashkar-eTayyaba (LeT), Sipah-e-Sahaba Pakistan (SSP), Millate-e-Islamia Pakistan (ex-SSP), Tehreek-eJaafria Pakistan (TJP), Islami Tehreek Pakistan (ex-TJP), Te h r e e k - e - N i f a z - e - S h a r i a t - e Muhammadi (TNSM), Tehreek-eIslami, al-Qaeda's Takfiri (OBL) Group, al-Mohajiroon Omar Bakri Group and Hizbut Tahrir (Shaafi Group), Jamiat-ul-Ansar, Jamiatul-Furqan, Khair-un-Naas International Trust, Islamic Students Movement of Pakistan, Lashkar-e-Islam, Ansar-ul-Islam, Jaji Namdar Group, Tehrik-eTaliban Pakistan (TTP), Lashkar-eBalochistan (LeB), Balochistan Liberation Army (BLA), Balochistan Republican Army (BRA), Balochistan Liberation United Front (BLUF), Balochistan Musalla Defah Tanzeen (BMDT),
Sunni Tehrik, Watch List Enlisted under UNSCR 1267 (2008), Jamaat-ul-Dawaa, Al-Akhtar Trust and Al-Rashid Trust. Another militant group called Balwaristan Organization is very much active in the Gilgit-Baltistan areas. Foreign terrorists including Uzbeks, Tajiks, Chechens, Arabs, Africans, are also allied with these organizations. That their funding is generated from drug money and kidnapping for ransom is not enough unless they are supported and funded by the enemy-nexus countries. Weapons and sophisticated devices in their use expose their financiers and hidden hands behind them. All of them may have different and complex ideologies, but they all have only one agenda i.e. to destabilize Pakistan. This must be enough to open eyes of the saner world on the planet Earth, Muslim Ummah and Pakistani nation. The people and Pakistan military's fight against this onslaught is hard and long. Only unity of purpose will render us successful. Winning the war is the only option.
Sheda & Davis Fahim Akhtar
I
know Sheda from past many years. He is a simple man with no significant formal education but serving in his humble capacity while based in one of the old part of Karachi from many years. Sheda carries along his own views and perception greatly resembling with no more than ordinary citizen of Pakistan. He thinks himself adequately apprehensive of what all happening is on national canvas and leaves no chance to express his views and opinions. Many of those known to Sheda normally trigger his tongue by asking his views on different issues to pass time. Last day, I met him along with my friend and decided to ask his views on Raymond Davis case. "Will the American national be freed or not" my question was a sim-
ple one. Davis will go soon to his country, innocent Sheda unable to pronounce the name precisely replied with great conviction. But how will he be given some relaxation by foreign office or advantage of self defense by court or you expect a compromise with the grieved party. Look every body want to take political advantage of the situation, what happens to those normally meeting a simple accident anywhere in Pakistan the driver is beaten badly and many occasions up to his death but it was not done this time and the man was taken in custody with great respect and why police very famous for encounters did not fired when he was trying to escape form the site and was requesting to open the car cabin and come out to prove his identity. Is it not good we are con-
trolling our temper as a nation and you know our police is passing through reforms for development and they are much civilized now, my reply was firm. O chaddo sir jee, you feel he will be convicted, your many national and provincial leaders along with TV anchors take his name with great respect calling him Davis sahib because they are not interested to annoy America in their personal capacities. I looked towards him treating him illiterate from my eyes only and informed him that we are a sovereign nation with independent judiciary. Why Aimal Kansi was handed over, where is Dr Afia, where are missing person from many parts of country and why suo moto action is not taken on suicide of Shumaila and even on threat to her family, you see talk shows daily with renowned fig-
ures participating and developing public opinion that devil used weapon in self defence and bad relationship with America will take Pakistan to the end of destruction and nevertheless the family members of Shumaila were threatened in the jurisdiction and constituency of one of the most influenced minister of provincial ruling party but no political statement came out. Do you think witnesses will come to court in such a situation of threat and handsome attractions expected when court proceedings are on? To me many things he was talking was looking reality bite but I know he is an illiterate person with no vision and perception and I also believe that we are a sovereign nuclear country so I along with my friend still consider conversation with him to satisfy my educated ego and pass time only.
No to Extremist Propaganda T
he very lines spoken by one of the charters of a drama Faseel-eJan Say Aaagay, a joint production of ISPR and CRS, was full of message and a lesson for the audience in general and Pakistani intelligentsia in particular that it is time we stepped forward and play our role to reach out all those whose lives waiting a messiah lest they end up into as would-be-suicide bombers. "There is struggle between us (peaceful Pakistanis) and the extremists‌.who so ever reach them (innocent tribals) earlier, he will make an impact in their (tribals) lives‌.." The lines were really heart touching and thought provoking that if ever we as a layman make an effort to think how our silence is contributing
into the completion of an agenda unleashed by extremist elements. Waheed Hamid in his letter to Editor published in a national daily has rightly highlighted that "Society and environment remain the main area of concern both for LEAs and terrorists to shape up their future strategy". There is no denying the fact that militants used coercive methods to establish their say in the tribal areas. They inked the new history of torture and persecution to terrorize the innocent people of Swat, FATA and other tribal agencies. The memories of public executions, Chandbibi's public flogging and brutal killings of locals are still afresh in the minds of the public. Then the provocative speeches delivered on Mullah FMs
and dissemination of hate literature were all the handy tools for Taliban to maneuver the public opinion and ultimately the society and environment. They employed these methods to legitimize their agenda. An article by Ali K Chishti published in a national daily declares that "among the 80-odd publications that suspected militant organisations are putting out are 18 weeklies, 40 fortnightlies and 22 monthlies. The publications are frequently published in Urdu with a heavy dose of Arabic and some English thrown in for good measure to cater to all social circles in Pakistan". So it is clear that these jehadis disseminate their message via various websites, magazines and disks in different lan-
Who will punish them? Pakistan is entangled in war on terror these days. And due to American presence in Afghanistan the terrorist's elements take it as a justification to attack Pakistan security agencies and the general public. Nation has faced many of terrorist and suicidal attacks because of the same. The situation aggravated to the extent that Pakistan army had to do operation in Waziristan and Swat. Security agencies apprehended many of the terrorist involved in suicide bombing and terrorist activities. But when they are trialed none of the person among the masses dares to appear before the court for evidence. And the worthy courts have to release them. So the whole of the efforts
being made at the part of the security agencies to capture these people go wasted because of the non availability of the eye witnesses. Now the question arises if the security officials apprehend anyone from the site or during the operation does it also requires the eye witness to appear before the court to get the terrorists punished from the court? Obviously the terrorists being apprehended are pain in the neck of the police and security officials as well. Because taking them to the courts for hearing involves high risk of an attack on the party deputed for the same. And no doubt the judges and the judicial staff also face the similar kind of threats. So they try to com-
plete the hearing in shortest possible time to give decision of the same. On the other hand lower and upper courts are so hard-pressed that the poor masses have to wait for whole their life to fate come true. But these terrorists who have designed to make hostage to whole of the nation are set free from the courts because of non availability of witnesses and less documentary proof. It means the terrorists are the safest creature in Pakistan as they are free to do any terrorists and subversive activity but they will not be punished due the procedural bottlenecks. The nation can only pray and look towards Allah Almighty to punish those killing the innocent people. Hasnat Nabi, Islamabad
guages targeting diverse audiences worldwide. Therefore, keeping in view this grave situation I would submit a few suggestions: firstly, it is high time that the educated Pakistani, Pakistani intelligentsia, columnists, writers and media person should wage a collective jihad against this extremist propaganda and educate their audience against this menace which may grip any of us and our dears and nears one. Secondly, the Government should introduce such activities in which the impressionable youth be protected against such heinous designs. This is really a matter of reaching those vulnerable minds and the sooner we reach them the better, otherwise we may rue the day. Malik Aamir Saleem, Rawalpindi
UNJUSTIFIED REACTION
A
news report of blowing up of the only women college in Orakzai Agency is a sad event as it had deprived the younger generation to get education for the betterment of self, families and for their country. The terrorists has already blown up educational institutions in Orakzai Agency leaving 18,000 students helpless and disappointed. The act is explained as a reaction to drone attacks by terrorists. Destroying of educational institutions is not justified in any way. The sole aim of these institutions is to impart education to children so that they grow up as individuals who understand their responsibilities as citizens of Pakistan. Education is going to change their mindset and inculcate in them the true perspective and understanding of themselves and their environment. They are going to stand up against all the
cruelties and struggle for development in order to bring prosperity in their area. Enlightened minds would shun the gun culture and consider education as their strong weapon. This is what worries the terrorists. They fear the young generation's awareness and a trend setting in to get education as it is the best defense against all discriminations and repression. Terrorists are worried and concerned about losing their power and authority at gun point. They know that they cannot compete or stand in front of educated youth. The situation is an eye opener calling for more determination to provide education to these children and youth through all efforts. All those who can help should come forward to find out ways to provide facilities to these children who are the hope of a nation against all problems in the society. Anwar Parveen, Rawalpindi
5
Saturday, February 19, 2011
South East Asian stocks
Mixed; Indonesia up on easing inflation hope
European shares snap five-day winning streak Opening Closing Change % Change Turnover (mn)
12,061.77 12,041.15 -20.62 -0.17 70.39
Opening Closing Change % Change Turnover (mn)
3,611.44 3,603.31 -8.13 -0.23 2.61
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,941.16 2,923.19 -17.97 -0.61 0.01
Major Gainers
Close
Change
ULEVER 4,679.08 NESTLE 3,596.00 BATA 653.40 DAWH 215.28 APL 364.62
222.81 96.00 23.48 10.25 3.71
Major Losers
Symbol SIEM RMPL MTL INDU COLG
Close
Change
1,019.49 2,539.75 492.43 276.40 896.13
-53.31 -53.06 -8.64 -4.78 -4.20
Top 5 Volume Leaders
Symbol
Close Vol (mn)
NML LOTPTA DGKC NCL NPL
62.84 15.99 24.42 26.26 16.68
9.52 8.55 4.90 3.56 2.93
Active Issues Plus Minus Unchanged
105 157 112
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Dec 10) Urea Offtake (Dec 10) Urea Price (Rs/50 kg) DAP Offtake (Jan to Dec 09) DAP Offtake (Dec 10) DAP Price (Rs/50 kg)
6,123 626 1,020 1,317 90 3,143
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Jan 11) 47,153 Sales (July 10 to Jan 11) 45,113 Production (Jan 11) 6,698 Sales (Jan 11) 6,793
INDUS MOTOR CO Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)
29,078 28,293 5,596 5,885
HONDA ATLAS CAR Production (July 10 to Jan 11) 9,279 Sales (July 10 to Jan 11) 8,779 Production (Jan 11) 1,511 Sales (Jan 11) 1,904
DEWAN FAROOQ MOTORS Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)
186 113 0 23
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Feburay 4,11) 5,046,861 Advances (Feburay 4,11) 3,140,675 Investments (Feburay 4,11) 2,100,015 Spread (Feburay 4,11) 7.61%
OIL MARKETING CO (000 tons) MS (Jul 10 to Dec 10) MS (Dec 10) Kerosene (Jul 10 to Dec 10) Kerosene (Dec 10) JP (Jul 10 to Dec 10) JP (Dec 10) HSD (Jul 10 to Dec 10) HSD (Dec 10) LDO (Jul 10 to Dec 10)) LDO (Dec 10) Fuel Oil (Jul 10 to Dec 10) Fuel Oil (Dec 10) Others (Jul 10 to Dec 10) Others (Dec 10)
PRICES (Ex-Refinery) MS (1 Feb 11) MS (1 Jan 11) MS % Chg Kerosene (1 Feb 11) Kerosene (1 Jan 11) Kerosene % Chg JP-1 (1 Feb 11) JP-1 (1 Jan 11) JP-1 % Chg HSD (1 Feb 11) HSD (1 Jan 11) HSD % Chg LDO (1 Feb 11) LDO (1 Jan 11) LDO % Chg Fuel Oil (1 Feb 11) Fuel Oil (1 Jan 11)
1,122 188 81 15 727 138 3,426 634 32 6 4,331 690 6 2
Rs 51.74 49.41 4.72% 58.28 55.01 5.94% 58.51 55.24 5.92% 61.80 58.55 5.55% 55.32 53.46 3.48% 47,931 45,947
Wall St inches higher for 3rd week gains
100-Index back above 12,000pts
LSE-25 Index
Symbol
US stocks late-morning
Davis case casting shadow despite good corporate results
KSE-100 Index
Nawaz Ali KARACHI: Equities ended lower at the Karachi Stock Exchange on Friday as investors remained on the selling side on concerns of mounting tension between US and Pak on Raymond Davis issue as the court extended the remand of the US citizen. The benchmark KSE-100 index lost 20 points to close at 12,041 points, KSE-30 index fell by 26 points to close at 11,616 points and KSE all-share index was down by 13 points to close
at 8,356 points. "Bearish activity observed on investor concerns over US disappointment on extension in Raymond Davis remand", said Ahsan Mehanti, Director Arif Habib Investments. The day began on a positive note and market witnessed some positive activities for about an hour with index touching an intraday high of 12,142 points (+ve 80 points). However, bulls failed to stay for long as renewed selling due to investor worries regarding the ongoing situation on the issue of
Profit takes quantum leap of 104pc
NML scoops up Rs2.06bn for 1H Aamir Abidi KARACHI: Nishat Mills Limited (NML), country's leading textile company has posted104 per cent growth in profit during 1HFY11. Profit after tax amounted to Rs2.06 billion as compared to Rs1.01 billion for the corresponding period last year which translates into earning per share of Rs5.85 as against Rs2.87 during the same period last year, according to the financial result sent by the Company to Karachi Stock Exchange. As per TFD analyst, main earning driver during the period remained hike in cotton price yielding higher gross profit and 260 per cent increase in other income.
Net sales of the Company were up by 50.8 per cent to Rs21.34 billion from Rs14.15 billion for the same period last year. The double digit growth in topline can be attributed to improved performance of spinning, processing and garment segments. Gross profit increased by 31.9 per cent to Rs3.28 billion versus Rs2.49 billion in 1HFY10 mainly due to higher cotton prices. Other operating income surged by 260 per cent to Rs1,207 million in 1HFY11 as compared to Rs336 million. On the other hand, financing cost surged by 29 per cent to Rs706 million compared to Rs547 million due to increase in Kibor rate.
Nikkei inches up for 5th day TOKYO: Japan's Nikkei stock average ended marginally higher on Friday to extend gains into a fifth day, with investors reluctant to actively buy stocks ahead of a Group of 20 meeting and a long weekend in the United States. Market watchers said worries over unrest in the Middle East also limited gains in the Nikkei, which closed up 0.1 per cent. It has rallied 6 per cent so far this year, making it the best-performing Asian market. "It's an obvious breather after the market has gained so much recently," said Takashi Hiroki, chief strategist at Monex Inc. "The time for such a break is perfect, because investors want to re-adjust their positions according to what happens in the Middle East, with the G20 summit and after a longer market break in the US," he said. US markets will be closed on Monday for George Washington's birthday. A twoday meeting of finance ministers and central bankers of G20 economic powers starts in Paris on Friday. The Nikkei rose 6.16 points to 10,842.80, gaining for a fifth day to mark the longest win-
ning streak since June. The broader Topix index finished 0.1 per cent lower at 973.60, with declining shares outnumbering gainers 835 to 673. Volume was moderate, with around 2.16 billion issues changing hands on the Tokyo Stock Exchange's main board, exceeding two billion shares for a tenth day. Average daily volume for the week came to 2.26 billion, up from last week's 2.16 billion. Analysts said buying by foreign investors, which have been pouring funds into Japanese stocks on the view they are undervalued, was helping to absorb selling from domestic institutions. Japanese stocks are trading at 1.1x current book value, below the global equity markets average of 2x, data from Thomson Reuters StarMine showed. "As we enter March when Japanese institutional investors normally aggressively sell to lock in gains ahead of earnings announcements and as the Nikkei nears the 11,000 mark, some sort of correction seems inevitable in the mid-term," said Masayuki Otani, chief market analyst at Securities Japan Inc. Reuters
ANNOUNCEMENTS Company Period Packages Limited Yearly Habib Bank Ltd. (Consolidated) Yearly Habib Bank Ltd. Yearly Kot Addu Power Co. Half Yearly Biafo Industries Half Yearly Bal.Wheels Ltd. Half Yearly Elite Cap.Mod Half Yearly Imrooz Modaraba Half Yearly Japan Power Half Yearly K.E.S.C. Half Yearly Nishat Mills Ltd. (Consolidated) Half Yearly Nishat Mills Ltd Half Yearly P.N.S.C. (Consolidated) Half Yearly P.N.S.C. Half Yearly Gharibwal Cement 1st Qtr
Div/Bon/Right 32.5%(D) 10%(B) 65%(D) 30%(i)(D) 15%(i)(D) -
PAT (Rs in mn) -332.43 17034.38 15613.05 3850.28 88.04 42.61 4.62 6.01 -772.17 -3115.33 6588.09 2058.37 522.06 238.36 -257.64
EPS(Rs) -3.94 16.78 15.58 4.37 4.40 3.20 0.41 2.00 -4.95 -0.16 18.74 5.85 3.95 1.80 -1.11
Raymond Davis wiped off the early gains. Therefore index closed the first session with erosion of 48 points. Bearish activities continued during the second session also where index at about 3:09 PST tested its lowest level of the day of 11,963 points (-ve 98 points). However, some support at lower levels allowed the index to recover most of the losses and managed to end the day above 12,000 levels. Buying interest was witnessed in Nishat Mills on its healthy result announcement while D. G. Khan Cement
remained under selling pressure since announcement of right share issue yesterday. Nishat Mills emerged as the volume leader with 9.52 million shares followed by Lotte Pakistan with 8.55 million shares and D. G. Khan Cement with 4.9 million shares. Foreign investors remained on the buying side as according to NCCPL data they did a net buying of $2.04 million during the day. Volumes witnessed some improvement as 70.3 million shares traded during the day
SECP registers 19 cos with foreign investment
HK shares post best week in 3 months
ISLAMABAD: The Securities and Exchange Commission of Pakistan registered 19 companies having foreign investment in January. In addition, 4 foreign companies were also registered during the month. Out of these 19 companies having foreign investment, 5 each have investment from foreign nationals from the US and China, 4 from the UK one each from the Netherlands, Jordan, South Korea, Sweden and the Philippines. Ten companies were registered in Islamabad, while 6 were registered in Lahore, 2 in Karachi and one in Sukkur. The sector-wise breakdown of the companies shows that 4 are from the trading sector, followed by 3 in services, 2 each in textile and construction, one each in telecommunications, mining, communications, lodging, and power generation, while the remaining 3 are registered from the miscellaneous sector. Of the 4 foreign companies, 2 are working in services while other companies are in IT and power generation. Their countries of origin are the US, UK, Canada and South Korea. Two foreign companies were registered in Islamabad, while one each were registered in Faisalabad and in Sukkur. NNI
Rs3 DPS announced
Kapco earnings rise up by 42pc Ahmed Siddique KARACHI: Kot Adu Power Company Limited (KAPCO), country's largest independent power producer released results. Profit was up by 41.7 per cent during the first half of FY11. Profit after tax amounted to Rs3.85 billion (EPS: Rs4.37) as compared to Rs2.72 billion (EPS: Rs3.09) over the corresponding period of last year. According to the details sent by KAPCO to Karachi Stock Exchange, the company also announced an interim dividend of Rs3 per share. The major reasons for the hike in earning s were lower repair and maintenance cost and higher operating income, while depreciation of Pak rupee also supported bottom-line Sales revenue for the period dipped by 26.9 per cent to Rs30.03 billion from Rs 41.11 billion mainly due to lower load factor. Cost of sales also fall by 32.8 per cent to Rs24.17 billion. Gross profit was up by 13.6% to Rs5.86 billion versus Rs5.16 billion for 1HFY10. Other operating income was up by whopping 214 per cent to Rs4.36 billion, along with this financial cost increased by 94 per cent to Rs4.16 billion.
HONG KONG/SHANGHAI: Hong Kong stocks rose on Friday, posting their biggest weekly returns in three months, as another session of healthy turnover suggested investors' confidence was growing. The benchmark Hang Seng Index closed up 1.3 per cent on the day. During the week, the benchmark was up 3.4 per cent. The China Enterprises Index of locally listed mainland companies gained 1.3 per cent despite weakness in the Shanghai market. Chinese financial counters and index heavyweight HSBC Holdings Plc were the biggest boost to the market. The financials sub-sector rose 1.5 per cent. Ping An jumped 3.6 per cent, its biggest single-day jump in three months after it reported strong premium growth for January. HSBC continued its climb, having gained 15 per cent so far this year as optimism builds that the bank will increase its dividend payout when it reports
which were 9.8 million shares more as compared to a turnover of 60.5 million shares a day earlier. Nishat Mills announced a profit after tax of Rs6.58 billion for the half year ended December 31, 2010 translating into an earning per share of Rs18.74. Habib Bank and Kot Addu Power were also among the major companies announcing their corporate results on Friday. Out of total 374 active issues; 157 declined and 105 advanced while 112 issues remained unchanged.
results later this month. But financials remained the most active sector for short-selling, suggesting some investors were hedging positions. Bucking the broader uptrend in the market, BYD Co, the Chinese carmaker backed by Warren Buffett, fell 2.1 per cent after it said it would cut car prices by up to 19 per cent to lift its waning market share. China's main stock index fell 0.9 per cent on Friday as investors sold off large-cap shares on worries over further monetary tightening ahead of the weekend. The benchmark Shanghai Composite Index was at 2,899.8 points, after hitting a two-month high on Thursday and falling below the psychologically important 2,900 level. It was up 2.6 per cent for the week. Turnover fell to 142 billion yuan from 167 billion yuan at Thursday, also indicating investors remained cautious to trade aggressively. -Reuters
NEW YORK: US stocks edged higher on Friday, with indexes headed for a third week of gains, as upbeat corporate earnings and sales gave more credence to a bullish market outlook. Lifting the Dow, Caterpillar rose 1.3 per cent to $104.67 after the equipment maker said on its website that machinery sales through dealers accelerated in the three months through January. Recent advances have pushed the major indexes to more than 30-month highs. The S&P 500, up about 4.2 per cent so far this month, has doubled in less than two years, the quickest 100 per cent jump since the Great Depression. Volume, though, has been light in the most recent leg of the rally, with just 6.7 billion shares changing hands Thursday on the New York Stock Exchange, NYSE Amex and Nasdaq combined -the second lowest total so far this year. Volume was 2.3 billion by late morning on Friday, in line with the recent below-average readings. "My outlook is cautiously optimistic," said Don Wordell, portfolio manager of RidgeWorth MidCap Value Fund in Orlando, Florida. "Corporate earnings are in great shape. That's good for equities. Balance sheets are in great shape, so you're seeing if companies can't grow organically, they're going out and buying growth, and if they're not doing that, then they're buying stock. That's good for equities." The Dow Jones industrial average was up 37.05 points, or 0.30 per cent, at 12,355.19. The Standard & Poor's 500 Index was up 2.07 points, or 0.15 per cent, at 1,342.50. The Nasdaq Composite Index was up 5.56 points, or 0.20 per cent, at 2,837.14. Wordell expected only slight moves in the market on Friday, though, because of the long holiday weekend ahead. The markets will be close for the US Presidents Day holiday on Monday. Reuters
Britain’s FTSE eases LONDON: Britain's leading share index slipped on Friday from a 32-month high hit in the previous session, as further monetary tightening in China dampened miners and left defensive stocks in demand. The commodity-heavy FTSE 100 index closed down 0.1 per cent at 6,082.99 points, though it was still up 0.3 per cent for the week -- the third straight weekly gain. Volumes were about 98 per cent of the FTSE 100's 90-day daily average. The UK benchmark has risen 3.1 per cent this year, but it underperforms a 5.4per cent rise in the pan-European STOXX Europe 600 as mining
stocks have been suffering on concerns over policy tightening in top consumer China. Beijing on Friday raised banks' required reserves by 50 basis points, showing no let-up in a campaign to combat inflation. Miners fell 1.7 per cent, with Rio Tinto and BHP Billiton down 2.3 and 2.2 per cent, respectively. Anglo American dropped 2.1 per cent, with traders citing disappointment over its dividend and the outcome of the attempted sale of its unwanted Tarmac UK building materials business. African Barrick Gold, however, advanced 3.8 per cent, with traders citing market chatter
about bid interest. The company declined to comment. The FTSE 100 volatility index was steady, but is down 13.8 per cent so far this year. The lower the volatility index, the higher is the risk appetite. Retailers were firmer in general, with Kingfisher up 2.7 per cent and Next up 1.9 per cent, after British retail sales rebounded sharply in January after heavy snow caused the biggest December month-on-month fall in sales volumes on record. Defensive stocks were also in demand, with Imperial Tobacco, British American Tobacco and Unilever up between 1 and 3.5 per cent. -Reuters
India stocks dragged down by graft probe MUMBAI: Indian stocks tumbled on Friday, dragged down by companies involved in a widening telecoms licence corruption probe, with Reliance Communications and other firms controlled by billionaire Anil Ambani hit hard. The investigation into telecoms licence awards that may have cost the government as much as $39 billion in lost revenue has led to arrests, seen members of India's corporate elite questioned by authorities, and battered the government of Prime Minister Manmohan Singh, and has shown no signs of abating. The 30-share BSE index closed 295.30 points lower at 18,211.52, reversing early gains, with 25 of its components closing in the red. At 11 per cent down this
year, the Indian benchmark is the worst performer among major global stock indexes in 2011. "Foreign Institutional Investors) don't know depth of corruption mess yet, so they are either staying away or exiting when they have an opportunity," said Prakash Diwan, head of institutional business at Networth Stock Broking. The 50-share NSE index closed down 1.58 per cent at 5458.95 points. Earlier on Friday, Indian police raided a television station linked to the government, the latest development in a week that has seen two of India's highest-profile businessmen questioned by authorities in the telecoms investigation. Reliance Comm, the country's No.2 cellular carrier, ended down 6.8 per cent while
sister firms Reliance Infrastructure and Reliance Power lost 5.6 and 7 per cent, respectively. "People are clearly avoiding Anil Ambani stocks right now due to corporate governance issues," Diwan said. On Wednesday, Anil Ambani, the world's 36th richest man declared by Forbes last year was questioned at Central Bureau of Investigation headquarters in New Delhi in the telecoms probe. A day later, Prashant Ruia, the chief executive of the Essar Group, one of India's biggest business houses, was also questioned. Shares in group company Essar Oil lost 5.3 per cent on Friday. The 50-share NSE index declined 1.6 per cent to 5,458.95 points. Reuters
6
Saturday, February 19, 2011
Market
Symbols
Volume
70,392,872
Value
3,197,160,739.87
Trades
46,874
Paid up Cap(mn)
Advanced Decline Unchanged Total
Current High Low Change
105 157 112 374
All Share Index
12,041.15 12,142.93 11,962.00 i20.62
Current High Low Change
KSE 30 Index
8,356.85 8,425.63 8,305.48 i13.01
Current High Low Change
KMI 30 Index Current High Low Change
11,616.66 11,693.72 11,530.21 i26.19
19,445.85 19,545.44 19,288.08 h32.62
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,516.02 Turnover 2,741,549 P/E (x) 11.00 Company
KSE 100 Index
High Low 1,528.69 1,496.60 Total cos Defaulter cos P/BV (x) ROE (%) 3.58 32.54
PE
Open
High
Low
Attock PetroleumSPOT 691 6.59 Attock Refinery 853 4.68 BYCO Petroleum 3921 Mari Gas Company 735 16.45 National Refinery 800 5.60 Oil & Gas Development 43009 11.23 Pak Petroleum 11950 7.37 Pak Oilfields SPOT 2365 7.29 Pak Refinery Limited 350 P.S.O 1715 4.63 Shell Gas LPG 226 Shell Pakistan 685 10.61
360.91 115.74 9.69 122.39 271.82 167.95 202.05 314.56 99.18 274.77 29.10 207.93
369.22 116.60 9.83 123.30 274.80 168.95 204.10 318.00 100.00 276.80 30.45 209.99
360.60 114.10 9.40 120.10 268.10 165.05 200.30 313.30 98.00 270.10 29.00 206.01
Close Chg 364.62 114.95 9.44 121.39 270.08 165.99 201.56 316.43 98.69 273.55 29.00 206.90
3.71 -0.79 -0.25 -1.00 -1.74 -1.96 -0.49 1.87 -0.49 -1.22 -0.10 -1.03
Close Change 1,507.52 -8.49 Listed cap Market cap 65,194.15 mn 1,164,049.14 mn Payout (%) Div Yield (%) 55.94 5.09 Last 60 days High Low
Volume 208694 333677 417014 49957 26599 148051 765642 773372 28103 397818 1455 8181
401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 39.89 222.00
315.80 112.02 9.25 117.00 251.99 161.27 197.70 264.00 81.13 268.00 29.00 194.00
% Change -0.56 5-Day High 1,524.60 5-Day Low 1,506.01
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 - 50.00 -
-
CHEMICALS
Open 728.30 Turnover 15,795 P/E (x) 5.39 Company
High Low 726.13 708.85 Total cos Defaulter cos P/BV (x) ROE (%) 1.38 25.53
Close 719.11 Listed cap 3,242.17 mn Payout (%) 11.08
Change -9.20 Market cap 12,308.06 mn Div Yield (%) 2.06
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1092 1321
6.85 9.16
72.00 33.63
72.00 33.11
70.00 32.80
71.20 -0.80 32.96 -0.67
12220 3575
76.65 39.45
Pak Int Con.tTerminal PNSC
68.00 32.36
Paid up Cap(mn)
PE
Open
Agriautos Ind
144
5.30
67.83
Atlas Battery
101
5.76 194.03
Atlas Engineering Ltd
247 36.19
Atlas Honda Baluchistan Wheels Ltd.
626 133
Dewan Motors General Tyre
890 598 18.71
Company
Company
Paid up Cap(mn)
High Low 1,628.01 1,596.76 Total cos Defaulter cos P/BV (x) ROE (%) 3.44 35.00
PE
Open
High
Low
Agritech Limited 3924 8.63 Biafo Ind 200 5.22 BOC (Pak) 250 12.58 Clariant Pak 273 7.23 Dawood Hercules 1203 12.05 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corporation Ltd 3277 12.05 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer SPOT 6785 9.43 Fauji Fert.Bin Qasim 9341 7.75 Gatron Ind 384 2.56 Ghani Gases Ltd 725 9.58 ICI Pakistan 1388 8.47 Leiner Gelatine 75 Lotte Pakistan 15142 5.88 Mandviwala 74 Nimir Ind Chemical 1106 Pak Gum 42 Shaffi Chemical 120 Sitara Chem Ind 214 8.77 Sitara Peroxide 551 14.65 Wah-Noble 90 7.26
23.31 45.95 92.51 198.30 205.03 3.13 7.44 2.81 11.20 218.77 13.06 11.88 152.82 41.11 47.79 12.16 148.93 11.13 16.10 1.18 2.62 19.63 2.20 104.25 13.30 37.74
24.25 48.00 94.99 202.55 215.28 3.35 7.79 2.98 11.20 221.45 13.30 11.98 153.65 41.34 50.17 12.90 149.99 10.15 16.25 1.45 2.71 18.64 2.35 104.40 13.55 37.85
22.71 47.90 91.55 198.50 215.28 3.03 7.46 2.72 10.60 216.50 13.01 11.50 150.90 40.80 45.41 12.31 147.25 10.13 15.71 1.12 2.54 18.63 2.05 101.00 13.27 37.77
Close Chg 23.83 45.95 91.55 201.94 215.28 3.19 7.68 2.75 11.15 219.33 13.07 11.80 153.29 41.07 47.79 12.64 148.15 11.13 15.99 1.14 2.60 18.64 2.24 103.97 13.48 37.74
0.52 0.00 -0.96 3.64 10.25 0.06 0.24 -0.06 -0.05 0.56 0.01 -0.08 0.47 -0.04 0.00 0.48 -0.78 0.00 -0.11 -0.04 -0.02 -0.99 0.04 -0.28 0.18 0.00
Close 1,617.33 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 1003 101 3052 31826 8728 268655 77254 2318711 4450 1992254 269890 317769 1726315 1829576 326 696694 202751 110 8545408 23031 928265 2300 2928 6122 40277 355
Change 7.31 Market cap 354,706.02 mn Div Yield (%) 4.97
26.73 59.20 103.94 213.30 215.28 3.74 9.25 4.24 11.98 222.80 15.87 12.64 157.90 43.99 52.00 13.07 158.49 20.95 16.80 2.45 3.17 28.20 3.10 139.40 14.54 41.99
20.95 41.11 79.99 152.00 165.73 2.37 6.90 1.52 9.15 180.90 12.51 9.16 110.00 33.80 39.00 11.00 134.01 9.15 11.70 1.01 1.45 17.01 2.02 101.00 12.70 32.22
% Change 0.45 5-Day High 1,617.33 5-Day Low 1,568.42
2010 Div BR (%) (%)
2011 Div BR (%) (%)
45 - 27.50 15 135 25B 50 300B 15 60 20B 130 25B 52.5 20 175 5 25 5B 50 -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,050.30 Turnover 4,601 P/E (x) 5.36 Company
High Low 1,063.77 1,036.50 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 7.47
Close 1,037.64 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 411
6.69
16.03 38.00
16.49 37.93
15.85 37.20
15.85 -0.18 37.46 -0.54
3000 1600
Century Paper Security Paper
Change -12.66 Market cap 2,876.26 mn Div Yield (%) 4.72
Last 60 days High Low 19.69 47.70
14.95 37.20
% Change -1.21 5-Day High 1,055.94 5-Day Low 1,037.64
2010 Div BR (%) (%) 50
-
2011 Div BR (%) (%) -
Ghandhara Nissan
450
Honda Atlas Cars
1428
High Low 1,258.33 1,222.23 Total cos Defaulter cos P/BV (x) ROE (%) 1.11 25.35
High
Low
70.00
69.85
Close Chg
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind XD Siddiqsons Tin
PE
Open
High
Low
565 2.97 675 555 8.81 1199 17.88 785 10.23
28.39 2.40 14.47 49.07 8.79
29.00 2.48 14.10 49.25 9.35
28.26 2.25 14.10 49.00 8.78
Close Chg 28.39 2.37 14.10 49.17 9.00
0.00 -0.03 -0.37 0.10 0.21
Close 1,011.24 Listed cap 3,596.11 mn Payout (%) 30.91
Change 2.13 Market cap 9,564.47 mn Div Yield (%) 9.86
3.12
4.50
-
10.90
6.31 281.18
Last 60 days High Low
Volume 7800 21306 1715 6358 1602
31.00 3.29 16.51 62.20 10.70
24.01 2.25 13.81 46.50 8.51
2010 Div BR (%) (%) 30 55 7.5
2011 Div BR (%) (%)
- 10.00 20B -
-
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gammon Pak Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Thatta Cement
PE
Open
High
Low
1828 866 6.49 182 14 956 41.67 982 13.31 3891 3651 10.57 350 2.81 6933 6.26 502 3.65 1760 283 4003 32 1288 13126 3234 6.08 5261 1.18 2228 200 798 452.50
2.74 50.50 18.00 9.85 10.01 1.50 1.90 25.67 2.37 4.53 7.25 1.74 1.14 6.85 0.64 6.10 3.06 67.03 2.57 6.20 6.53 17.38
2.90 52.38 18.45 9.85 10.00 2.00 2.15 24.98 2.75 4.67 7.00 1.84 1.15 7.60 0.71 6.15 3.10 69.00 2.65 6.45 6.95 18.10
2.79 50.06 18.00 8.85 9.99 1.65 1.84 24.39 2.35 4.41 7.00 1.68 1.05 6.85 0.53 6.01 2.98 66.51 2.20 5.90 6.50 17.40
Close 877.51 Listed cap 54,792.74 mn Payout (%) 19.04
Change -4.99 Market cap 63,642.26 mn Div Yield (%) 3.22
Close Chg
Volume
Last 60 days High Low
2.80 51.27 18.03 9.85 10.00 1.73 1.89 24.42 2.36 4.51 7.00 1.68 1.14 7.12 0.64 6.01 3.06 67.62 2.54 6.30 6.54 18.10
14104 8212 5146 498 5000 20103 197056 4897216 1917 197466 1000 1397 239 5201 217 7245 331022 142149 92986 11575 550 10000
3.98 65.45 24.16 15.50 12.59 2.49 3.10 32.30 4.00 5.55 8.00 2.25 3.65 9.19 0.99 7.63 3.88 78.44 3.30 8.15 7.95 20.20
0.06 0.77 0.03 0.00 -0.01 0.23 -0.01 -1.25 -0.01 -0.02 -0.25 -0.06 0.00 0.27 0.00 -0.09 0.00 0.59 -0.03 0.10 0.01 0.72
2.73 48.60 18.00 7.91 9.55 1.50 1.65 24.39 2.15 4.40 6.95 1.60 1.01 4.13 0.25 5.99 2.95 66.00 2.20 5.90 5.30 16.37
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
% Change -0.57 5-Day High 906.01 5-Day Low 877.51 2011 Div BR (%) (%) -
20R 92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 979.97 Turnover 353,938 P/E (x) 2.69 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Siemens Engineering Tri-Pack Films
PE
Open
High
High Low 984.39 942.69 Total cos Defaulter cos P/BV (x) ROE (%) 1.18 43.91 Low
Close Chg
115 2.77 62.34 62.25 60.00 60.43 -1.91 230 2.64 2.75 2.12 2.56 -0.08 1067 4.85 53.00 53.00 52.10 52.74 -0.26 389 3.95 4.00 3.99 4.00 0.05 47 16.86 29.67 30.70 29.35 30.34 0.67 844 - 127.40 130.75 121.03 126.68 -0.72 82 10.34 1072.80 1045.00 1019.16 1019.49-53.31 300 7.59 125.02 126.90 125.00 125.10 0.08
Close 962.26 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change -17.71 Market cap 36,699.15 mn Div Yield (%) 5.78
Last 60 days High Low
43810 83.23 57.39 1011 3.30 1.82 7102 56.45 45.30 13000 4.14 2.43 10871 33.80 17.10 269670 143.00 103.52 116 1381.00 1019.16 8358 144.50 106.50
2010 Div BR (%) (%) 20 25 32.5 900 100
25B 10B -
% Change -1.81 5-Day High 982.03 5-Day Low 962.26 2011 Div BR (%) (%) -
50R -
Company
Paid up Cap(mn)
Ados Pak AL-Ghazi Tractor Dewan Auto Engineering Ghandhara Ind KSB Pumps Millat Tractors XD
66 215 214 213 132 366
PE
Open
1.01 16.05 4.96 220.66 1.01 9.73 10.75 7.17 59.89 7.58 501.07
High
Low
Close Chg
16.00 15.70 15.71 223.00 220.00 220.38 1.37 1.10 1.10 10.55 10.50 10.51 61.50 59.70 59.89 501.00 491.00 492.43
-0.34 -0.28 0.09 -0.24 0.00 -8.64
501 1401 3964 7716 231 18559
Change -22.95 Market cap 31,534.71 mn Div Yield (%) 16.70
Last 60 days High Low 18.20 244.95 2.40 13.50 70.80 568.40
-
Close 1,233.06 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change -6.12 Market cap 45,860.00 mn Div Yield (%) 4.67
Last 60 days High Low
1.84 21.70
1.90 0.03 21.70 -0.94
2010 Div BR (%) (%)
2011 Div BR (%) (%)
619
82.63
67.00
90
-
-
-
3099
205.00
156.03
100
20B
-
-
250
43.26
15.00
-
-
-
-
2858 102
143.80 37.59
100.52 30.11
25
-
-
-
58267 6165
2.89 26.74
1.40 21.00
20
-
-
-
4.58
4.26
4.49 -0.01
522
-
-
-
-
11.23
10.75
10.75 -0.15
4742
12.87
10.60
-
-
-
-
124
309.73
248.00
150
-
-
-
18514
77.90
61.60
-
-
-
-
1618
24.00
18.80
10
20B
-
-
62.55
64.09
0.35
Sazgar Engineering
150
23.25
23.70
23.50
23.64
0.39
4.41
% Change -0.49 5-Day High 1,260.30 5-Day Low 1,233.06
283.99 275.01 276.40 -4.78
5.36
4.26
14.10 207.50 0.21 10.01 58.55 489.10
2010 Div BR (%) (%) 400 650
25B325.00
-
RSI (14-day)
44.13
Total Assets (Rs in mn)
35,490.71
MA (10-day)
2.59
Total Equity (Rs in mn)
5,104.86
MA (100-day)
2.44
Revenue (Rs in mn)
MA (200-day)
2.54
Interest Expense
1st Support
2.11
Loss after Taxation
2nd Support
1.66
EPS 09 (Rs)
1st Resistance
3.00
Book value / share (Rs)
2nd Resistance
3.44
PE 10 E (x)
Pivot
2.55
PBV (x)
3,368.22 2,881.90 (1,639.83) (3.092) 9.63 0.27
MYBL closed up 0.05 at 2.60. Volume was 377 per cent above average (trending) and Bollinger Bands were 30 per cent wider than normal. The company's loss after taxation stood at Rs1.392 billion which translates into a Loss Per Share of Rs0.74 for the nine months of current calendar year (9MCY10). MYBL is currently 2.3 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of MYBL at a relatively equal pace. Trend forecasting oscillators are currently bearish on MYBL.
Japan Power Generation Limited
Performance of SR Food Producers Index Open 1,861.80 Turnover 136,430 P/E (x) 48.70 Company Bawany Sugar Crescent Sugar Dewan Sugar Fecto Sugar Habib Sugar Habib-ADM Ltd Kohinoor Sugar Mehran Sugar XB Mirza Sugar XD Mithchells Fruit XD National Foods Nestle Pakistan Noon Pakistan Noon Sugar Premier Sugar XD Quice Food Rafhan Maize Shahtaj Sugar Tandlianwala UniLever Pakistan
Paid up Cap(mn) 87 214 365 146 750 200 109 157 141 50 414 453 48 165 38 107 92 120 1177 665
PE
Open
High
High Low 1,938.44 1,865.45 Total cos Defaulter cos P/BV (x) ROE (%) 14.76 30.30 Low
Close Chg
5.50 5.50 5.50 5.50 0.00 0.62 6.65 7.00 6.15 6.15 -0.50 3.46 3.99 3.22 3.45 -0.01 - 35.97 37.76 34.20 37.73 1.76 8.74 21.88 22.40 22.00 22.03 0.15 7.50 12.60 12.41 12.21 12.30 -0.30 3.80 4.30 4.00 4.26 0.46 1.82 55.75 57.50 55.75 55.75 0.00 3.96 4.23 4.23 4.23 0.27 8.50 69.00 72.45 67.01 72.41 3.41 21.67 58.08 58.90 57.25 58.08 0.00 39.65 3500.00 3675.00 3500.00 3596.00 96.00 3.86 25.94 27.00 26.90 26.99 1.05 1.15 10.50 10.75 10.75 10.75 0.25 - 42.44 41.55 41.55 41.55 -0.89 7.18 3.25 3.25 3.16 3.16 -0.09 12.76 2592.81 2648.99 2510.00 2539.75 -53.06 4.29 62.51 65.00 59.41 64.01 1.50 15.00 42.00 43.50 43.50 42.00 0.00 19.02 4456.27 4679.08 4513.00 4679.08 222.81
Close 1,916.63 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 500 995 50600 795 28148 950 4250 311 1000 1017 182 117 1001 500 1000 16000 108 2111 201 406
Change 54.83 Market cap 288,117.86 mn Div Yield (%) 0.63
Last 60 days High Low 6.73 2.00 7.15 5.00 5.59 1.60 55.00 28.00 36.50 21.35 12.95 11.50 6.14 2.45 68.49 52.60 7.18 3.85 89.90 66.13 75.50 41.52 3675.00 1965.00 27.30 21.88 14.45 9.00 53.81 38.50 4.00 2.05 3016.00 1800.00 100.26 50.93 44.06 31.50 4818.00 3916.04
2010 Div BR (%) (%) 25 40 35 10 40 12 750 12 10 1150 492
25B 20B -
% Change 2.94 5-Day High 1,916.63 5-Day Low 1,783.06 2011 Div BR (%) (%) 7.50 -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
43.26
Total Assets (Rs in mn)
7,598.16
MA (10-day)
1.60
Total Equity (Rs in mn)
(1,042.83)
MA (100-day)
1.63
Revenue (Rs in mn)
2,731.94
MA (200-day)
1.77
Interest Expense
1st Support
1.50
Loss after Taxation
2nd Support
1.44
EPS 10 (Rs)
691.43
1st Resistance
1.61
Book value / share (Rs)
2nd Resistance
1.66
PE 11 E (x)
Pivot
1.55
PBV (x)
(452.35) (2.899) (6.68) (0.23)
JPGL closed unchanged at 1.57. Volume was 55 per cent below average (consolidating) and Bollinger Bands were 22 per cent narrower than normal. The company's loss after taxation stood at Rs403.263 million which translates into a Loss Per Share of Rs2.58 for the 1st quarter of current fiscal year (1QFY11). JPGL is currently 11.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of JPGL (mildly bearish). Trend forecasting oscillators are currently bearish on JPGL.
Dewan Cement Limited
HOUSEHOLD GOODS Performance of SR Household Goods Index Open 1,057.34 Turnover 138,973 P/E (x) 2.38 Company
Paid up Cap(mn)
Diamond Ind Pak Elektron Singer Pak Tariq Glass Ind
High Low 1,089.43 1,018.90 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 10.64
PE
Open
High
Low
90 1219 3.38 341 25.65 231 2.18
10.00 13.46 22.95 18.67
10.00 13.87 24.09 18.99
9.04 13.01 21.81 18.02
Close Chg 10.00 13.40 22.83 18.21
0.00 -0.06 -0.12 -0.46
Close 1,050.36 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 305 123377 132 15155
Change -6.98 Market cap 5,072.00 mn Div Yield (%) 2.63
Last 60 days High Low
2010 Div BR (%) (%)
15.84 15.88 24.09 24.00
17.5
7.55 13.00 17.55 15.90
10B -
% Change -0.66 5-Day High 1,062.77 5-Day Low 1,050.36 2011 Div BR (%) (%) - 200R
PERSONAL GOODS Performance of SR Personal Goods Index Open 997.80 Turnover 15,651,270 P/E (x) 7.10 Company
Paid up Cap(mn)
Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Brothers Textile Chenab Limited Crescent Textile D S Ind Ltd Data Textile Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning Fazal Cloth Gadoon Textile XD Globe (O.E) Gul Ahmed Textile Gulistan Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Janana D Mal Kohinoor Ind Kohinoor Textile Mehmood Textile Mian Textile Nishat (Chunian) Nishat Mills Pak Synthetic Ravi Textile Reliance Cotton Reliance Weaving Rupali Poly Saif Textile Salfi Textile Salman Noman Samin Textile Sana Ind Saritow Spinning Service Ind Shadman Cot XD Shahpur Textile Shield Corp Tata Textile Thal Limited Treet Corp Tri-Star Poly Zil Limited
2594 840 4493 33 76 76 98 1150 492 600 99 514 34 110 188 234 47 635 190 222 716 3105 99 180 43 303 1455 150 221 1614 3516 560 250 103 308 341 264 33 42 267 55 133 120 176 140 39 173 307 418 215 53
PE
Open
8.48 3.77 5.73 20.06 - 10.55 0.45 11.25 0.50 14.50 5.42 629.92 0.35 2.61 3.26 16.93 1.55 0.21 51.74 41.89 0.13 4.50 0.64 22.02 1.13 57.85 0.80 71.61 5.02 11.50 4.17 29.01 1.10 19.29 1.00 8.04 0.69 3.80 3.87 48.69 0.85 8.95 4.00 3.45 0.23 15.02 1.48 3.62 5.01 0.69 58.95 0.45 2.18 26.27 5.39 61.33 4.46 13.47 1.17 0.70 42.00 0.71 10.43 5.08 41.10 0.48 5.75 0.33 74.56 1.48 4.10 5.00 6.00 3.12 41.10 0.25 1.50 7.22 212.50 2.92 15.03 0.36 0.37 11.26 89.50 0.39 40.89 4.96 114.32 8.55 53.93 0.61 5.61 80.69
High
High Low 1,013.07 994.45 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 8.64 Low
Close Chg
3.90 3.71 3.73 -0.04 20.50 20.40 20.62 0.56 10.75 10.40 10.68 0.13 11.80 11.00 11.13 -0.12 14.50 13.55 14.10 -0.40 661.41 630.00 653.40 23.48 0.75 0.74 0.35 0.00 2.80 2.52 2.60 -0.01 15.96 15.95 16.93 0.00 1.74 1.57 1.62 0.07 1.10 0.08 0.28 0.07 43.98 43.98 43.98 2.09 5.50 4.00 4.08 -0.42 22.88 20.92 21.00 -1.02 59.90 59.90 59.90 2.05 73.50 72.70 73.20 1.59 11.00 11.00 11.00 -0.50 30.46 30.40 29.01 0.00 20.20 18.35 18.35 -0.94 8.26 7.55 8.26 0.22 3.78 3.61 3.67 -0.13 49.99 48.00 49.27 0.58 9.95 7.95 9.95 1.00 3.80 3.45 3.68 0.23 14.98 14.02 14.03 -0.99 1.57 1.42 1.42 -0.06 5.24 5.00 5.07 0.06 56.50 56.50 56.50 -2.45 0.59 0.59 0.59 0.14 26.90 25.12 26.26 -0.01 63.20 58.80 62.84 1.51 13.89 12.61 13.20 -0.27 1.25 1.10 1.13 -0.04 40.00 40.00 40.00 -2.00 11.04 10.21 10.21 -0.22 41.50 40.00 40.43 -0.67 6.00 5.75 6.00 0.25 74.01 70.85 72.99 -1.57 3.50 3.50 3.50 -0.60 5.75 5.75 6.00 0.00 42.50 39.10 41.10 0.00 2.29 1.51 1.51 0.01 215.75 210.00 210.79 -1.71 16.03 15.95 16.02 0.99 0.55 0.50 0.26 -0.11 92.00 90.99 91.45 1.95 42.93 40.75 40.77 -0.12 119.90 112.75 116.02 1.70 56.50 53.20 53.72 -0.21 0.99 0.50 0.51 -0.10 84.35 80.00 83.80 3.11
Close 1,004.16 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 6.36 Market cap 136,054.15 mn Div Yield (%) 2.35
Last 60 days High Low
84600 5.28 500 24.59 1831457 12.84 1702 14.85 3403 15.10 836 705.00 302 1.49 32768 3.76 107 23.99 1748 2.10 16756 1.10 1889 47.00 12101 8.90 14628 23.08 500 76.24 2852 77.40 500 13.75 310 33.19 1112 28.27 30120 8.50 750 4.47 43576 55.00 5533 9.99 14500 3.90 1176 18.00 30459 2.00 770 5.95 991 70.30 5000 0.75 3556411 28.04 9518181 71.89 133836 14.45 113533 1.98 1000 43.30 1782 11.39 5030 42.70 4002 6.85 13150 74.74 1575 6.35 150 7.00 408 49.66 502 2.89 631 276.50 1388 16.95 5520 0.70 619 96.49 5050 42.93 11497 132.00 105550 63.30 5060 1.45 25146 84.35
2010 Div BR (%) (%)
3.65 30 19.90 20 9.20 8.10 - 15B 12.60 20 580.00 0.15 2.52 15.95 15 1.55 0.08 35.00 5 2.90 18.75 35 42.40 100SD 47.00 70 11.00 10 24.00 12.5 18.00 10 6.30 10 20B 3.31 10 36.61 20 3.00 2.70 10 13.40 0.75 4.50 53.31 60 0.25 21.15 15 56.25 25 45R 6.21 0.65 33.00 20 8.50 25SD 35.00 40 3.90 48.00 25 2.01 5B 5.06 - 100R 32.90 60 1.00 210.00 7.00 0.20 72.50 10 30.00 25 98.56 80 20B 52.35 0.33 45.50 35 -
% Change 0.64 5-Day High 1,004.16 5-Day Low 985.16
-
-
Open 894.19 Turnover 25,062 P/E (x) 6.79 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
8.36 95.00 6.83 90.39 13.13 73.39 7.44 26.73 7.18 8.90 6.59 154.49 5.49 60.00
High
High Low 900.76 875.08 Total cos Defaulter cos P/BV (x) ROE (%) 1.51 22.31 Low
Close Chg
95.50 90.30 95.40 0.40 92.50 91.10 90.39 0.00 73.50 72.51 73.00 -0.39 27.20 25.56 26.86 0.13 9.00 8.20 8.90 0.00 153.10 153.00 153.00 -1.49 62.75 60.05 61.01 1.01
Close 895.15 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 7126 202 4152 5594 227 500 7251
Change 0.97 Market cap 29,878.48 mn Div Yield (%) 6.56
Last 60 days High Low 112.50 98.00 89.98 30.48 9.99 174.00 69.00
90.30 83.00 70.13 24.40 7.16 116.00 58.50
2010 Div BR (%) (%) 20 100 30
20B -
% Change 0.11 5-Day High 895.15 5-Day Low 883.46 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
40.74
Total Assets (Rs in mn)
20,869.47
MA (10-day)
1.96
Total Equity (Rs in mn)
3,628.10
MA (100-day)
1.89
Revenue (Rs in mn)
3,494.78
MA (200-day)
1.87
Interest Expense
1st Support
1.75
Loss after Taxation
2nd Support
1.64
EPS 10 (Rs)
1st Resistance
2.06
Book value / share (Rs)
2nd Resistance
2.26
PE 11 E (x)
Pivot
1.95
PBV (x)
11.15 (622.76) (1.743) 10.15 0.19
DCL closed down -0.01 at 1.89. Volume was 66 per cent below average (consolidating) and Bollinger Bands were 34 per cent narrower than normal. The company's loss after taxation stood at Rs173.394 million which translates into a Loss Per Share of Rs0.46 for the 1st quarter of current fiscal year (1QFY11). DCL is currently 1.0 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on DCL.
2011 Div BR (%) (%)
PHARMA AND BIO TECH
% Change -1.49 5-Day High 1,559.03 5-Day Low 1,521.25 2011 Div BR (%) (%)
Fundamental Highlights As on Dec 31, 2009
Technical Analysis
FOOD PRODUCERS
Performance of SR Pharma and Bio Tech Index
Close 1,521.25 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
2.56 0.00
65.11
Performance of SR Industrial Engineering Index High Low 1,547.89 1,513.90 Total cos Defaulter cos P/BV (x) ROE (%) 2.99 38.02
139.90 136.00 138.56 37.36 33.82 35.59
63.74
INDUSTRIAL ENGINEERING Open 1,544.20 Turnover 32,414 P/E (x) 7.87
0.00
823 10.21
CONSTRUCTION AND MATERIALS High Low 897.10 862.77 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 7.10
2.11
40.53
1.98 22.70
38.51
Pak Suzuki
Performance of SR Construction and Materials Index Open 882.50 Turnover 5,949,757 P/E (x) 5.91
38.51
786
-
% Change 0.21 5-Day High 1,015.25 5-Day Low 1,002.21
1.87 22.64
69.94
193.10 192.00 192.90 -1.13
Indus Motors
INDUSTRIAL METALS AND MINING High Low 1,023.39 1,004.68 Total cos Defaulter cos P/BV (x) ROE (%) 1.04 33.10
40.53
9.62 136.00 5.56 35.59
Performance of SR Industrial Metals and Mining Index Open 1,009.10 Turnover 38,781 P/E (x) 3.13
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,610.02 Turnover 18,711,470 P/E (x) 9.83
-
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,239.18 Turnover 96,881 P/E (x) 4.37
Mybank Limited
% Change -1.26 5-Day High 740.24 5-Day Low 719.11
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
Telecard Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
38.42
Total Assets (Rs in mn)
9,610.12
MA (10-day)
2.09
Total Equity (Rs in mn)
3,400.99
MA (100-day)
2.25
Revenue (Rs in mn)
2,414.18
MA (200-day)
2.51
Interest Expense
530.45
1st Support
1.91
Profit after Taxation
698.46
2nd Support
1.85
EPS 10 (Rs)
2.328
1st Resistance
2.11
Book value / share (Rs)
11.34
2nd Resistance
2.25
PE 11 E (x)
0.60
Pivot
2.05
PBV (x)
0.18
TELE closed down -0.02 at 2.02. Volume was 68 per cent below average (consolidating) and Bollinger Bands were 40 per cent narrower than normal. The company's profit after taxation stood at Rs251.746 million which translates into an Earning Per Share of Rs0.84 for the 1st quarter of current fiscal year (1QFY11). TELE is currently 19.3 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of TELE at a relatively equal pace. Trend forecasting oscillators are currently bearish on TELE.
BOOK CLOSURES Company
From
To
Shadman Cotton Mills Reliance Cotton Spng Mills # Mehran Sugar Mills Frontier Ceramics Gharibwal Cement Ansari Sugar Mills Tandlianwala Sugar Mills Zeal Pak Cement Descon Oxychem # Int. Industries # Pakistan Oilfields Fauji Fertiliser (TFC) NIB Bank Attock Petroleum (TFC) Searle Pakistan Cherat Papersack Pakistan State Oil Pakistan Petroleum Pakistan Petroleum (Pref) Central Insurance # Colgate - Palmolive # Pioneer Cement
19-Feb 19-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 22-Feb 23-Feb 23-Feb 24-Feb 24-Feb 01-Mar 01-Mar 03-Mar 03-Mar 03-Mar 04-Mar 06-Mar
26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 01-Mar 01-Mar 05-Mar 04-Mar 09-Mar 11-Mar 08-Mar 09-Mar 09-Mar 10-Mar 10-Mar 12-Mar
D/B/R
Spot AGM/Date
5 10-Feb 7.5(I) 10-Feb 100(I) 11-Feb 35(F),25(B) 14-Feb 115(I) 15-Feb 50(R) 50(I) 50(I) 23-Feb 30(I) 35.22Pref(R)
26-Feb 26-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 28-Feb 24-Feb 1-Mar 10-Mar 10-Mar -
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Climax Eng. Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Pak Tobacco Media Times Ltd aXR PIAC (A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 4.01 54 3.1 95.2 0.81 168.88 106.55 18.9 2.96 41.66 3.05 23.19
High 4 54.9 3.15 99.89 0.7 174 106.95 19.9 3.09 41 3.12 23.45
Low Close 4 53 3.02 92 0.7 164 105 17.9 2.75 41 2.95 22.28
4 53 3.08 92.15 0.7 169.39 105 19.63 2.78 41.66 3.01 22.46
Change -0.01 -1 -0.02 -3.05 -0.11 0.51 -1.55 0.73 -0.18 0 -0.04 -0.73
Vol 6000 5500 348899 1347 1000 58607 1651 2137 332266 150 544684 416690
7
Saturday, February 19, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,088.54 Turnover 2,654,103 P/E (x) 5.91 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,109.21 1,079.04 Total cos Defaulter cos P/BV (x) ROE (%) 0.76 12.84
PE
Open
High
Low
Close Chg
78 4.44 37740 12.49 3000 0.60 8606 6175 -
74.99 18.49 2.04 2.55 3.43
73.99 18.77 2.19 2.69 3.50
71.25 18.36 1.99 2.52 3.35
72.00 18.73 2.02 2.62 3.39
-2.99 0.24 -0.02 0.07 -0.04
Close 1,101.74 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 5828 2211684 172353 264238 47803
Change 13.20 Market cap 76,205.49 mn Div Yield (%) 10.59
% Change 1.21 5-Day High 1,101.74 5-Day Low 1,062.26
Last 60 days High Low
2010 Div BR (%) (%)
82.99 20.65 2.67 3.45 4.65
80 17.5 1 -
71.25 17.70 1.99 2.50 3.35
2011 Div BR (%) (%)
-
-
Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Silver Star Insurance
369 5.90 36.81 279 8.02 67.25 457 6.54 10.10 1250 - 38.01 400 3.19 13.19 718 8.58 101.09 791 15.88 58.91 3000 42.79 16.81 250 1.89 7.71 350 8.99 303 5.86 11.00 253 4.04 6.99
-
Close 1,309.00 Listed cap 95,369.29 mn Payout (%) 104.13
Change 13.14 Market cap 108,046.76 mn Div Yield (%) 7.11
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Genertech 198 Hub Power 11572 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 Kohinoor Power 126 Kot Addu Power 8803 Nishat Chunian Power Ltd 3673 Nishat Power Ltd 3541 Sitara Energy Ltd 191 Southern Electric 1367 Tri-star Power XD 150
6.94 7.83 2.74 5.34 3.49 2.44 3.32 -
0.69 37.63 1.57 2.76 18.02 4.50 42.64 15.81 16.22 17.68 1.98 0.85
0.83 38.00 1.60 2.88 18.40 4.70 44.50 16.20 16.92 18.49 2.00 0.89
0.65 37.60 1.49 2.70 18.40 4.30 43.00 15.50 15.90 17.45 1.91 0.83
0.71 0.02 37.89 0.26 1.57 0.00 2.73 -0.03 18.02 0.00 4.50 0.00 43.98 1.34 15.93 0.12 16.68 0.46 17.79 0.11 1.94 -0.04 0.85 0.00
10850 239234 188196 285416 253 302 1175707 1353246 2934644 9624 190274 15612
1.18 41.20 2.15 3.55 22.85 5.39 45.85 18.01 18.70 19.35 2.80 1.49
Company
0.65 36.00 1.49 2.16 17.25 3.85 39.31 13.32 14.25 16.50 1.90 0.70
% Change 1.01 5-Day High 1,309.00 5-Day Low 1,282.44
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R - 10.00 - 30.00 -
Open 730.08 Turnover 10,547 P/E (x) 5.37 Paid up Cap(mn)
Company
0.32 3.36 0.36 0.04 0.20 -1.21 0.00 -0.12 0.29 0.51 -0.15 -0.49
1750 600 5800 23694 4979 5719 200 126653 1000 500 1250 5006
40.00 83.00 11.99 47.90 15.50 102.44 61.80 19.40 9.95 10.75 12.93 8.20
34.33 57.80 9.50 37.50 12.00 81.10 56.00 15.70 6.07 6.01 9.65 6.01
East West Life EFU Life Assurance New Jub Life Insurance
High Low 740.63 711.25 Total cos Defaulter cos P/BV (x) ROE (%) 2.82 3.85
Close 721.87 Listed cap 2,290.72 mn Payout (%) 355.53
Open
High
Low
Close Chg
Volume
Last 60 days High Low
500 850 33.03 627 28.53
1.70 58.88 42.99
2.19 60.00 42.90
2.19 57.51 40.85
1.70 0.00 58.13 -0.75 42.51 -0.48
225 4803 5519
4.62 86.95 49.31
Company Sui North Gas Sui South Gas
High Low 1,622.43 1,571.15 Total cos Defaulter cos P/BV (x) ROE (%) 1.16 11.41
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
7.49 3.84
24.81 25.77
25.45 25.73
24.75 24.81
25.18 0.37 25.51 -0.26
145251 273131
29.39 27.90
Paid up Cap(mn)
PE
24.15 19.95
% Change 0.23 5-Day High 1,627.07 5-Day Low 1,596.78
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
FINANCIAL SERVICES Open 387.42 Turnover 2,065,144 P/E (x) 11.65
High Low 395.67 377.82 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 0.91
Close 382.44 Listed cap 30,336.44 mn Payout (%) 99.56
Change -4.99 Market cap 17,879.39 mn Div Yield (%) 3.57
Paid up Cap(mn)
PE
AMZ Ventures
225
1.32
0.60
0.65
0.50
0.58 -0.02
70469
0.95
0.33
-
-
-
-
Arif Habib Investments
360
4.43
23.48
24.08
22.31
22.48 -1.00
61204
24.85
16.80
-
20B
-
-
Arif Habib Limited
450 12.12
24.02
24.05
23.35
23.76 -0.26
26347
28.00
23.25
-
20B
-
-
4.29 1.38
23.69 1.54
23.80 2.00
22.96 1.60
23.33 -0.36 1.54 0.00
638681 192
30.20 2.14
22.96 1.15
30 -
-
-
-
Open
High
Low
Close Chg
Last 60 days High Low
1237 24.26
% Change -1.29 5-Day High 395.17 5-Day Low 381.69
Volume
Arif Habib Corp 3750 Dawood Cap Mangt. XB 150
2010 Div BR (%) (%)
2011 Div BR (%) (%)
Dawood Equities
250
-
1.75
2.28
1.75
1.75 0.00
1003
2.75
1.28
-
-
-
-
First National Equity Grays Leasing
575 215
-
5.76 2.27
5.05 2.31
4.82 2.31
4.85 -0.91 2.31 0.04
944 500
10.25 3.00
4.10 0.18
-
-
-
-
Invest Bank
2849
-
0.56
0.88
0.52
0.59 0.03
15754
1.09
0.46
-
-
-
-
Ist Cap Securities
3166
-
3.26
3.35
3.25
3.25 -0.01
67928
3.95
2.95
-
10B
-
-
Ist Dawood Bank
626
0.63
1.70
1.80
1.70
1.75 0.05
3399
2.14
1.05
-
-
-
-
10.56 -0.13 3.60 -0.08
1482626 93629
14.05 4.55
10.05 3.20
10 -
-
-
-
Performance of SR Banks Index
JS Global Cap
500
6.91
26.97
26.50
25.63
25.69 -1.28
14106
32.00
25.00
-
-
-
-
JS Investment
1000
-
6.35
6.50
6.06
6.13 -0.22
105707
7.59
6.06
-
-
-
-
KASB Securities Pervez Ahmed Sec
1000 775
-
4.57 1.88
4.69 1.94
4.45 1.82
4.57 0.00 1.91 0.03
427 114078
5.43 2.50
3.80 1.80
-
-
-
-
Saudi Pak Leasing
452
-
0.58
0.95
0.47
0.69 0.11
520
0.97
0.41
-
-
-
-
Sec Inv Bank
514 12.40
3.20
4.00
3.10
3.10 -0.10
6154
4.99
2.00
-
-
-
-
Open
High
Low
Close Chg
68.94 68.05 68.15 -0.36 16.24 15.60 16.03 0.18 10.70 10.21 10.53 -0.20 37.38 36.40 36.50 -0.55 4.45 4.03 4.11 0.08 7.97 7.73 7.79 -0.05 3.65 3.06 3.52 -0.07 13.95 13.50 13.60 -0.01 127.00 122.10 123.16 -1.80 26.50 25.26 25.29 -0.31 2.86 2.75 2.75 -0.15 1.68 1.57 1.62 0.04 216.20 213.25 215.38 0.55 18.39 17.81 17.88 -0.35 2.99 2.10 2.60 0.05 74.30 73.22 73.97 -0.16 2.71 2.53 2.58 -0.06 1.97 1.78 1.78 -0.02 2.45 2.31 2.39 0.03 6.69 6.52 6.57 -0.02 7.80 7.01 7.20 -0.30 3.57 3.36 3.44 0.02 64.20 62.10 62.90 -0.59
Open 759.80 Turnover 280,962 P/E (x) 12.60
Adamjee Insurance
-
10.40 3.52
Volume
Last 60 days High Low
26116 74.00 205839 19.25 619304 11.99 547102 39.49 51422 4.70 707948 10.40 40664 4.50 22427 16.47 893122 128.97 6201 29.28 81187 2.95 214504 2.80 336472 250.48 14630 20.30 950863 3.40 1366249 80.61 284652 3.35 4346 2.17 352888 3.05 4688 8.48 10977 9.04 95257 4.63 458181 70.65
59.00 15.60 9.50 33.00 3.65 7.73 3.00 13.50 102.55 22.63 2.30 1.49 203.29 14.90 1.90 65.31 2.53 1.70 2.30 6.52 7.00 2.77 58.00
2010 Div BR (%) (%)
Open 83.88
High 84.49
High Low 771.55 750.13 Total cos Defaulter cos P/BV (x) ROE (%) 0.66 5.20 Low 82.00
Close Chg 83.69 -0.19
Close 759.22 Listed cap 11,111.34 mn Payout (%) 79.54
Volume
40 10B 20 20B - 20B 65 10B - 66R 85 10B - 15B -63.46R 10 -
-
-
103747
96.40
79.25
Performance of SR Equity Investment Instruments Index Open 1,428.83 Turnover 3,732,508 P/E (x) 19.56
% Change -0.08 5-Day High 766.06 5-Day Low 757.01
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
High Low 1,446.40 1,400.11 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 2.21
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
264
9.38
1.60
1.90
1.36
1.50 -0.10
AL-Meezan Mutual F.
1375
4.07
10.25
10.19
9.80
10.10 -0.15
B R R Guardian Mod.
780
3.16
1.39
1.45
1.26
1.39 0.00
Constellation Modaraba
65
2.86
1.48
1.99
1.20
200
1.35
0.57
0.75
0.41
Elite Cap Modaraba
113
3.70
3.03
2.90
2.51
3.03 0.00
139
Equity Modaraba
524 12.00
1.85
2.20
1.80
1.92 0.07
15556
Company 1st Fid Leasing
Crescent St Modaraba
First Capital Mutual F.
3.97
3.00
3.00
Last 60 days High Low
Volume
2010 Div BR (%) (%)
2011 Div BR (%) (%)
2.34
1.16
-
-
-
-
754974
11.50
6.30
18.5
-
5.00
-
18158
2.79
1.26
0
-
-
-
1.26 -0.22
502
1.99
1.00
-
-
-
0.54 -0.03
1464
0.87
0.16
1.2
-
-
3.49
2.12
5
-
2.98
1.30
-
-
3.00 -0.97
1371
% Change -1.19 5-Day High 1,466.95 5-Day Low 1,411.85
11000
5.44
-
High 44.88 3.50 2.49 9.72 14.38 97.60 5.75 1.85 8.44 167.87 141.99 2.63 5.50 3.60 10.00 32.00 5.81 2.91 10.00 1.20 10.97 7.90 133.99 1.04 900.33 410.00 99.00 55.00 4.70 28.19 7.24 12.41 16.11 1.37 1013.57 6.40 2.28 2.40 1349.00 2.95 2.09 17.00 6.00 1.10 6.50 10.99 43.90 7.80 14.10 10.00 1.80 8.07 1.02 14.70 1.57 2.27 7.87 6.35 2.39 1.50 0.52 125.00 292.00 72.89 6.50 12.00 258.00 51.50 17.25 0.48 5.24 1.10 42.95 2.00 4.00 20.99 1.98 3.99
Low
Close
44.88 3.50 2.20 9.72 14.00 97.60 5.75 1.85 7.35 167.49 130.02 2.03 4.10 3.60 9.41 32.00 5.81 2.56 9.70 0.86 10.97 7.90 133.99 0.76 855.32 398.25 98.05 55.00 4.70 28.19 7.24 12.41 14.51 1.37 1011.95 4.51 2.24 1.43 1339.09 2.16 1.45 17.00 6.00 1.10 5.15 8.99 43.90 7.60 14.10 9.45 1.60 7.68 1.02 14.70 1.54 2.27 7.87 6.35 2.39 1.50 0.52 125.00 292.00 72.89 6.50 11.70 258.00 51.50 16.95 0.48 5.24 1.10 42.95 2.00 4.00 20.99 1.98 3.99
47.24 3.00 2.12 10.10 14.25 93.05 5.66 2.01 7.57 159.88 136.38 2.30 4.76 2.60 10.41 31.11 6.11 3.30 9.98 1.15 11.97 7.80 127.61 0.90 896.13 419.00 102.87 55.99 4.30 29.60 7.15 11.43 15.25 1.29 1065.00 5.51 2.17 1.62 1308.88 2.36 2.01 16.24 6.14 0.94 5.51 8.99 46.18 7.60 15.06 9.00 0.80 7.11 1.41 14.00 1.45 3.27 8.87 5.90 2.00 1.37 0.59 128.00 288.72 70.54 7.24 11.70 246.68 50.49 17.25 0.30 6.10 1.00 41.34 1.58 3.59 20.10 1.30 3.89
Change
Vol
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -4.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.20 0.00 0.00 -0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
100 100 94 86 53 50 46 46 45 42 41 35 33 30 29 25 25 24 22 22 20 20 19 15 15 15 13 11 10 10 10 10 10 10 10 6 6 6 6 5 5 5 5 5 4 3 3 3 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
Open
NML-FEB
61.64
63.49
59.00
63.06
ENGRO-FEB 219.06
221.40
217.00
219.83
0.77
766000
25.00
24.50
Close
Change
Vol
1.42 1936000
24.51
-1.27
744000
10.60
10.75
10.45
10.70
0.10
368500
POL-FEBB
306.16
308.99
305.60
307.70
1.54
311000
-
UBL-FEB
63.69
64.10
62.51
63.38
-0.31
259000
-
FFBL-FEB
41.27
41.35
40.95
41.18
-0.09
215500
-
-
NBP-FEB
74.29
74.50
-0.22
210500
-
-
FFC-FEBB
120.37
121.00
118.65
120.61
0.24
204500
PSO-FEB
275.73
276.84
270.82
274.24
-1.49
123500
MCB-FEB
215.43
121000
PPL-FEB
-
25.78
Low
ANL-FEB
-
DGKC-FEB
High
73.11
74.07
2.55
-
760
2.44
3.34
3.44
3.26
3.42 0.08
101622
3.89
2.76
17
-
-
-
216.50
213.50
216.03
0.60
202.17
204.01
200.10
202.05
-0.12
78500
397
2.58
7.74
7.75
7.74
7.75 0.01
501
9.00
6.40
11
-
-
-
LUCK-FEB
66.92
68.00
66.75
67.95
1.03
64000
JS Growth Fund
3180
2.10
5.75
5.57
5.41
5.45 -0.30
412567
6.17
4.09
5
-
-
-
NCL-FEB
26.35
26.39
25.50
26.35
0.00
37000
JS Value Fund
1186
1.31
5.46
5.68
5.41
5.45 -0.01
59502
6.61
3.50
10
-
-
-
AICL-FEB
33000
283
1.80
2.80
2.70
2.40
2.45 -0.35
2502
3.50
1.26
2.8
-
-
-
BOP-FEB
1200
2.46
9.00
8.80
8.40
8.57 -0.43
2033801
10.24
5.33
15.5
-
-
-
184 13.20
1.31
1.73
1.31
1.32 0.01
979
2.50
0.92
-
-
-
Mod Al-Mali
7.50
Change -16.99 Market cap 18,931.04 mn Div Yield (%) 8.32
47.24 3.00 2.12 10.10 14.25 93.05 5.66 2.01 7.57 159.88 136.38 2.30 4.76 2.60 10.41 31.11 6.11 3.30 9.98 1.15 11.97 7.80 127.61 0.90 900.33 419.00 102.87 55.99 4.30 29.60 7.15 11.43 15.25 1.29 1065.00 5.51 2.17 1.62 1308.88 2.36 2.01 16.24 6.14 0.94 5.51 9.99 46.18 7.60 15.06 9.00 0.80 7.11 1.41 14.00 1.45 3.27 8.87 5.90 2.00 1.37 0.59 128.00 288.72 70.54 7.24 11.50 246.68 50.49 17.39 0.30 6.10 1.00 41.34 1.58 3.59 20.10 1.30 3.89
Golden Arrow
Meezan Balanced Fund
300
Close 1,411.85 Listed cap 29,771.58 mn Payout (%) 104.74
Open
H B L Modaraba
KASB Modaraba
Change -0.58 Market cap 47,415.51 mn Div Yield (%) 6.31
Last 60 days High Low
EQUITY INVESTMENT INSTRUMENTS
2011 Div BR (%) (%)
Performance of SR Non Life Insurance Index
PE
-
10.78 3.73
NON LIFE INSURANCE
Paid up Cap(mn)
20R -
10.69 3.68
Allied Bank Limited 7821 6.43 68.51 Askari Bank 6427 7.63 15.85 Bank Alfalah 13492 13.50 10.73 Bank AL-Habib 7322 7.42 37.05 Bank Of Khyber 5004 5.48 4.03 Bank Of Punjab 5288 7.84 BankIslami Pak 5280 880.00 3.59 Faysal Bank 7327 4.39 13.61 Habib Bank Ltd 10019 7.69 124.96 Habib Metropolitan Bank 8732 7.73 25.60 JS Bank Ltd 8150 2.90 KASB Bank Ltd 9509 1.58 MCB Bank Ltd 7602 9.70 214.83 Meezan Bank 6983 7.58 18.23 Mybank Ltd 5304 2.55 National Bank 13455 6.46 74.13 NIB Bank 40437 2.64 Samba Bank 14335 1.80 Silkbank Ltd 26716 2.36 Soneri Bank 6023 6.59 Stand Chart Bank 38716 11.08 7.50 Summit Bank Ltd 7251 3.42 United Bank Ltd 12242 7.39 63.49
Company
-
-
% Change -0.44 5-Day High 1,125.41 5-Day Low 1,106.15
ALNRS FANM IGIBL SCM UDPL AABS GUSM KML BAPL PSEL PECO SCLL SGML ZTL SHNI SHFA UNIC CSUML ALTN KOSM ARPAK ISTM ILTM CJPL COLG FZTM SFL GLPL CSIL DINT FHAM HUSS NAGC TSMF WYETH AGSML FDMF FIBLM UPFL CML FRCL HWQS OLPL PAKMI HUSI LATM QUET STCL CFL CHAS CWSM IFSL NMBL PRWM YOUW ZAHT ALQT ATFF AZAMT BILF HAJT HINO IDYM JDWS JKSM JOPP LAKST MIRKS MOON MUKT PICTPS PMI PPP PTEC SRSM STJT TREI TSBL
2011 Div BR (%) (%)
7633 508
Change -4.90 Market cap 679,855.49 mn Div Yield (%) 5.04
Symbols
% Change -1.12 5-Day High 745.45 5-Day Low 721.87
Jah Siddiq Co JOV and CO
High Low Close 1,138.17 1,107.64 1,120.51 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.12 13.94 40.49
UPTO 100 VOLUME
-
BANKS Open 1,125.41 Turnover 7,199,784 P/E (x) 8.03 Company
Change 3.71 Market cap 35,228.55 mn Div Yield (%) 6.56
-
Performance of SR Financial Services Index
Company
Close 1,606.88 Listed cap 12,202.80 mn Payout (%) 66.79
10B 55B -
2010 Div BR (%) (%)
1.52 57.51 39.05
Performance of SR Gas Water and Multiutilities Index Open 1,603.17 Turnover 418,382 P/E (x) 10.19
10 30 -
Change -8.21 Market cap 8,522.01 mn Div Yield (%) 4.85
PE
-
GAS WATER AND MULTIUTILITIES
37.13 70.61 10.46 38.05 13.39 99.88 58.91 16.69 8.00 9.50 10.85 6.50
LIFE INSURANCE
ELECTRICITY High Low 1,320.90 1,292.77 Total cos Defaulter cos P/BV (x) ROE (%) 1.37 9.35
37.00 70.61 10.00 37.50 12.60 99.48 59.80 16.50 8.00 9.49 10.85 6.50
Performance of SR Life Insurance Index
Performance of SR Electricity Index Open 1,295.86 Turnover 6,403,380 P/E (x) 14.65
37.70 70.61 10.73 39.91 13.47 101.99 59.89 16.90 8.00 9.50 10.85 7.35
83.40
-0.83
7.92
7.85
7.77
7.80
-0.12
167.11
167.03
165.05
165.16
-1.95
17000
NETSOL-FEB 23.26
22.98
22.35
22.50
-0.76
16500
-
PTC-FEB
18.72
18.79
18.60
18.79
0.07
10500
HUBC-FEB
37.77
37.90
37.80
37.86
0.09
2500
OGDC-FEB
84.23
84.54
82.55
24500
NAMCO Balanced Fund 1000
6.25
4.00
4.65
4.11
4.00 0.00
251
4.73
2.92
15
-
-
-
PICIC Energy Fund
1000
3.20
7.91
7.87
7.60
7.75 -0.16
205050
8.83
5.40
10
- 10.00
-
PICIC Growth Fund
2835
4.02
13.44
13.49
13.26
13.43 -0.01
79967
16.49
9.30
20
- 12.50
-
PICIC Inv Fund
2841
3.50
6.39
6.60
6.24
6.44 0.05
26216
7.95
4.50
10
-
7.50
-
Symbols
Open
High
Low
Close
340
-
1.47
1.26
1.20
1.26 -0.21
5041
2.54
0.50
1
-
-
-
COST
0.50
0.45
0.45
0.45
-0.05
GFIL
6.50
6.00
6.00
6.00
-0.50
0.00
MUCL
13.42
13.12
13.12
13.12
-0.30
0.00
SFAT
5.99
5.50
5.50
5.50
-0.50
0.00
Punjab Modaraba Tri-Star 1st Modaraba
212
-
0.85
1.45
0.99
0.85 0.00
120
2.25
0.67
-
-
-
-
UNICAP Modaraba
136 12.50
0.25
0.25
0.25
0.25 0.00
1000
0.95
0.06
-
-
-
-
ZERO VOLUME Change
Vol 0.00
BOARD MEETINGS
Nishat Mills Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
41.67
Support 1
11,954.45
MA (5-day)
12,014.13
Support 2
11,867.75
MA (10-day)
12,176.10
Resistance 1
12,135.40
11,396.29
Resistance 2
12,229.60
MA (100-day)
Fair Value
*Invest Cap
77
AKD Securities Ltd
71.45
TFD Research
78.6
Dera Ghazi Khan Cement Co Ltd
Rs Recommendations
10,648.72
Pivot
Brokerage House
Fair Value
*Invest Cap
AKD Securities Ltd
38.14
Buy
AKD Securities Ltd
TFD Research
36.55
Positive
TFD Research
Positive
Leverage Position
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Brokerage House
Hold
*Invest Cap
Fair Value 39
* Target price for Jun-11 & **Net Open Interest in future market
DGKC is currently 8.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect
currently indicating that DGKC is currently in an oversold condition.
Brokerage House
Rs Recommendations
Brokerage House
Fair Value
Rs Recommendations Sell
AKD Securities Ltd
75.5
Neutral
139.5
Neutral
TFD Research
92.3
Positive
TFD Research
44.25
Neutral
TFD Research
Technical Outlook
* Target price for Jun-11 & **Net Open Interest in future market
National Bank of Pakistan
Neutral
Positive
55.57 41.26 35.02 31.50
casting oscillators are currently bearish on PTC.
145
245.4
Technical Analysis
playing a downward trend. Volatility is extremely low when compared to the
52.4
TFD Research
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
PTC is currently 2.1 per cent below its 200-day moving average and is dis-
*Invest Cap
AKD Securities Ltd
147.48 32,347.13 302.38 219.01
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
326.94 13,427.36 79.98 41.08
* Target price for Jun-11 & **Net Open Interest in future market
585.02 10,957.49 7.98 18.59
* Target price for Jun-11 & **Net Open Interest in future market
Hold
Accumulate
Leverage Position
Fair Value
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
65.55 151.15 123.18 115.17
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
373.19 57,206.28 69.85 152.67
* 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)
39.83 75.58 70.42 68.36
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.50 23,559.29 141.95 73.91
* Target price for Jun-11 & **Net Open Interest in future market
ENGRO closed up 0.56 at 219.33. Volume was 10 per cent below average FFBL closed down -0.04 at 41.07. Volume was 68 per cent below average FFC closed up 0.47 at 153.29. Volume was 2 per cent below average and NBP closed down -0.16 at 73.97. Volume was 68 per cent below average (conand Bollinger Bands were 16 per cent narrower than normal.
(consolidating) and Bollinger Bands were 62 per cent narrower than normal. Bollinger Bands were 44 per cent narrower than normal.
solidating) and Bollinger Bands were 13 per cent narrower than normal.
ENGRO is currently 17.5 per cent above its 200-day moving average and FFBL is currently 30.4 per cent above its 200-day moving average and is FFC is currently 33.0 per cent above its 200-day moving average and is NBP is currently 8.2 per cent above its 200-day moving average and is disis displaying an upward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is extremely low when compared to playing a downward trend. Volatility is relatively normal as compared to the the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into ENGRO (bullish). Trend forecast- reflect volume flowing into and out of FFBL at a relatively equal pace. reflect volume flowing into and out of FFC at a relatively equal pace. Trend reflect volume flowing into and out of NBP at a relatively equal pace. Trend ing oscillators are currently bullish on ENGRO.
Trend forecasting oscillators are currently bearish on FFBL.
forecasting oscillators are currently bearish on FFC.
forecasting oscillators are currently bearish on NBP
Time
19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 19-Feb 20-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb 21-Feb
11:30 10:00 11:30 11:00 11:00 11:00 11:00 11:00 11:30 11:30 11:30 11:30 3:00 11:30 10:00 12:00 12:00 11:00 10:30 3:00
Company
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
149
45.52
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
47.32 18.54 19.16 19.13
*Invest Cap
AKD Securities Ltd
61.45 216.58 192.01 186.78
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Date
Gatron Industries Ltd Bolan Castings Limited First Prudential Modaraba Faysal Balanced Growth Fund Faysal Income & Growth Fund Faysal Savings Growth Fund Faisal Islamic Savings Fund Arif Habib Investment Ltd Pak Oman Advantage Fund Pak Oman Advantage Islamic Fund Pak Oman Advantage Stock Fund Pak Oman Advantage Fund D.M. Textile Mills Ltd Invest & Finance Securities Ltd United Bank Limited Namco Balanced Fund NAMCO Income Fund Bata Pakistan Limited Askari Bank Ltd Sitara Peroxide Limited
TECHNICAL LEVELS
Positive
Hold
Accumulate
Technical Analysis
Buy
volume flowing into and out of DGKC at a relatively equal pace. Trend fore- average volatility over the last 10 trading sessions. Volume indicators casting oscillators are currently bearish on DGKC. Momentum oscillator is reflect moderate flows of volume out of PTC (mildly bearish). Trend fore-
229.9
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
200.80 4,903.65 48.51 24.87
Fauji Fertiliser Co
Rs Recommendations
Buy
23.91
DGKC closed down -1.25 at 24.42. Volume was 4 per cent below average PTC closed up 0.24 at 18.73. Volume was 11 per cent above average and and Bollinger Bands were 60 per cent wider than normal. Bollinger Bands were 38 per cent wider than normal.
AKD Securities Ltd
Technical Outlook
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Rs Recommendations
25
Technical Outlook
Leverage Position
20.57 27.53 28.36 26.77
Fair Value
25.8
Technical Outlook
Fauji Fertiliser Bin Qasim Ltd
Rs Recommendations
210
Brokerage House *Invest Cap
Accumulate
12,048.70
Engro Corporation
Rs Recommendations Buy
*Invest Cap
Technical Outlook Technical Analysis
Fair Value 36
Buy
RSI (14-day) 41.41 Free Float Shares (mn) 175.80 MA (10-day) 64.65 Free Float Rs (mn) 11,047.27 KSE 100 INDEX closed down -20.62 points at 12,041.15. Volume was MA (100-day) 58.83 ** NOI Rs (mn) 77.58 51 per cent below average (consolidating) and Bollinger Bands were MA (200-day) 53.02 Mean 61.54 10 per cent narrower than normal. As far as resistance level is concern, * Target price for Jun-11 & **Net Open Interest in future market the market will see major 1st resistance level at 12,135.40 and 2nd NML closed up 1.51 at 62.84. Volume was 100 per cent above average resistance level at 12,229.60, while Index will continue to find its 1st and Bollinger Bands were 25 per cent narrower than normal. support level at 11,954.45 and 2nd support level at 11,867.75. KSE 100 INDEX is currently 13.1 per cent above its 200-day moving NML is currently 18.5 per cent above its 200-day moving average and is average and is displaying a downward trend. Volatility is relatively nor- displaying a downward trend. Volatility is relatively normal as compared to mal as compared to the average volatility over the last 10 trading sesthe average volatility over the last 10 trading sessions. Volume indicators sions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently reflect moderate flows of volume out of NML (mildly bearish). Trend forecasting oscillators are currently bearish on NML. bearish on INDEX. MA (200-day)
Brokerage House
Pakistan Telecommunication Co Ltd
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 38.85 2.80 2.75 40.98 67.80 67.50 24.85 50.10 48.90 33.93 22.90 22.50 35.98 23.40 23.00 36.04 82.30 80.90 35.59 15.70 15.30 47.59 10.45 10.25 44.36 360.40 356.20 34.96 113.85 112.70 36.67 10.25 10.00 35.87 3.15 2.80 25.92 7.70 7.60 41.03 1.75 1.65 21.22 24.20 24.00 40.75 2.65 2.55 37.51 2.25 2.15 36.07 37.05 36.10 20.75 57.10 56.05 61.12 216.75 214.15 33.63 13.40 13.25 33.75 4.40 4.25 55.74 40.80 40.55 66.11 151.55 149.85 50.47 121.20 119.20 47.46 37.65 37.45 51.90 146.95 145.70 37.88 272.95 269.50 41.12 3.50 3.40 43.14 1.50 1.45 58.45 2.75 2.70 44.21 10.40 10.20 59.17 43.15 42.35 45.61 2.65 2.60 56.72 15.70 15.45 35.15 66.40 65.20 40.23 213.70 212.00 34.67 2.25 2.00 40.12 73.35 72.75 61.63 25.30 24.30 42.68 22.00 21.55 33.98 2.50 2.45 59.62 2.55 2.45 41.63 60.00 57.20 37.35 164.35 162.75 49.91 2.95 2.85 46.20 1.85 1.75 56.22 2.65 2.55 39.02 6.00 5.65 46.02 313.80 311.20 33.06 199.90 198.20 40.05 62.75 61.35 33.15 270.15 266.80 46.87 18.45 18.20 44.39 205.25 203.65 38.44 24.80 24.45 50.07 13.30 13.15 62.03 24.95 24.45 37.96 1.95 1.85 38.91 3.00 2.95 35.64 61.95 60.95 45.95 2.55 2.45
1st 2nd Resistance 2.90 2.95 68.70 69.25 52.40 53.55 23.75 24.20 24.10 24.40 84.80 85.90 16.30 16.60 10.80 10.95 369.00 373.45 116.35 117.70 10.75 10.95 3.75 4.00 7.95 8.05 2.10 2.25 24.80 25.20 2.90 3.10 2.50 2.60 39.50 40.90 59.60 61.05 221.70 224.05 13.85 14.15 4.65 4.80 41.35 41.60 154.30 155.35 126.10 129.00 38.05 38.25 149.65 151.20 281.95 287.45 3.70 3.85 1.60 1.65 2.85 2.90 10.75 10.95 44.65 45.35 2.85 2.95 16.25 16.50 68.90 70.20 216.65 217.90 2.70 2.90 74.45 74.90 27.05 27.85 23.20 23.90 2.70 2.80 2.70 2.80 64.40 66.00 168.25 170.55 3.10 3.20 1.95 2.00 3.00 3.20 6.55 6.75 318.50 320.60 203.70 205.80 65.30 66.50 276.85 280.20 18.90 19.05 209.25 211.60 25.50 25.85 13.60 13.70 25.90 26.25 2.15 2.25 3.15 3.20 64.05 65.15 2.70 2.80
Pivot 2.85 68.40 51.25 23.35 23.70 83.40 15.95 10.60 364.80 115.20 10.50 3.40 7.85 1.95 24.60 2.80 2.35 38.50 58.55 219.10 13.70 4.55 41.05 152.60 124.10 37.85 148.45 278.45 3.60 1.55 2.80 10.60 43.85 2.75 16.00 67.70 214.95 2.45 73.85 26.10 22.75 2.60 2.60 61.60 166.65 3.05 1.90 2.85 6.20 315.90 202.00 63.90 273.50 18.60 207.65 25.15 13.45 25.35 2.05 3.10 63.05 2.60
8
Saturday, February 19, 2011
Tinie Tempah top winner at Brit Awards R
Folk's resurgence was recogapper Tinie Tempah has which was topped by hip-hop confirmed his rise to the and R&B artist Plan B, also nised in the Best Female category, where Laura Marling, girltop of the British music known as Strickland Banks. Canadian group Arcade Fire friend of Marcus Mumford, was industry by winning two Brit also won two prizes, claiming victorious. Awards at London's O2 Arena. There was further Canadian The London hip-hop star, who the Best International Band and scored two number-one hits in Best International Album success when teenage phenomenon Justin Bieber was awarded 2010 with singles "Pass Out" awards. Best International The indie collective paid trib- the and "Written in the Stars" collected Best British ute to English artists New Order, Breakthrough Act prize. The Brits ceremony has a repBreakthrough Act and Best The Clash and David Bowie utation for controversy and popBritish Single at the biggest during their acceptance speech. Recently reformed five-piece star debauchery, but the assemnight of the UK's pop calendar. The singer promised he would outfit and Brit veterans Take bled divas and rockers were on toast his success in true pop-star That opened up the show with a their best behaviour Tuesday. Michael Jackson's 1996 perlive performance before walkstyle. "I'm going to get really ing away with the award for formance of "Earth Song" was messed up and everyone here is Best British Group, 18 years famously interrupted by Pulp invited," he said after the cere- after winning their first Brit singer Jarvis Cocker's bottomwiggling stage invasion, while mony late on Tuesday. "We are award. Robbie Williams, who former deputy prime minister going to get really wrecked." The 22-year-old missed out on rejoined the band in July last John Prescott had a vat of water the most prestigious award of year, confirmed he would not be dumped on him by group the night, Best British Album, joining Tinie Tempah in a post- Chumbawamba in 1998. ISLAMABAD: Models wak down the ramp during a fashion show organised by Asim Anarchic dance-duo KLF prewhich went to folk-quartet show blowout. Yar Tiwani in collaboration with Sobia’s at a local hotel.-Online "I can't wait to get back to the tended to spray 1992s audience Mumford & Sons for their flat, hug the wife and have a cup with machine gun fire before record "Sigh No More." "This is very bizarre, very of tea and biscuits," the singer depositing a dead sheep outside the after-show party. strange. Thank you very much said. House DJ Brandon Block The ceremony was punctuated indeed. We are very honoured, very humbled," lead singer by other live performances from received a drink in his face in Barbadian superstar Rihanna, 2002 after drunkenly gateMarcus Mumford said. Tinie Tempah -- real name British soul singer Adele, the tri- crashing Rolling Stone Ronnie 2011 is all set to kickstart with Patrick Okogwu -- also lost out umphant Mumford & Sons and Wood's attempts to present an a bang for Sonam Kapoor as While Aamir Khan is the ulti- in the Best Male Artist category, indie collective Arcade Fire. award. she gets ready to be seen in mate icon for many actors as far Thank You. An Anees Bazmee as film success is concerned, film is anyways special and there are a few for who Aamir is now with such a multi starcast not the ultimate messiah. all around her (Akshay Kumar, Falling in this league is actor Irrfan Khan, Bobby Deol), Shahid Kapur. Though many are Sonam can be expected to be drawing comparisons between super excited about what's in rriving a year and a half who pretty much lived her cenShahid and Aamir, given the fact store for her. With I Hate Luv after Vishal Bhardwaj's tral protagonist role in Fashion as that Shahid has chosen to only Storys and Aisha behind her, last film Kaminey, 7 well, "Of course it was a different one does wonder how does she Otherwise both personally as one film at a time, but Shahid on Khoon Maaf tells the story of a world that I was getting in. But ight from the day of feel about her upcoming film well as professionally for me, it his part has a different take on woman who murders each of her then the kind of trust that I have unveiling of the first is the same thing; nothing has these comparative conjectures. where she gets an opportunity look of Salman Khan's seven husbands. While the pro- with Vishal and the director-actor changed." So, many might ask, why is to go glam all over again. mos so far have managed to relationship that we share, I two upcoming films, Ready "Well, the best part is that I no However in an industry where Shahid doing only one film at a catch one's attention, there is an knew that we were in for some- and Bodyguard, there was a lot more get to hear a question - hits matter the most, doesn't she time? Isn't he trying to emulate amalgamation of various moods thing special." of talk about them being on the 'How do you feel about your feel that 2010 has resulted in a Aamir in a way? This query is that seem to be looking up from However the fact remains that same track as Salman's last upcoming film since your last better professional standing for every frame of the film. Isn't after all not many films would film, the all time blockbuster one didn't do well?'", laughs her. Priyanka Chopra bothered about dare to portray a character, who Dabangg. However, clarifying Sonam who had to go through "Shall I tell you something honthe fact that 7 Khoon Maaf has goes on to kill each of her seven this to the media, Salman estly," she questions animatedly, some torrid time at the beginning the kind of subject that could spouses. Isn't she worried about denied that the two films were "At least I have always felt that of her career when Saawariya like Dabangg. Elaborating his well entice diverse reactions? the acceptability factor? perception towards me has been and Dilli 6 didn't do well. "Look at it from the point of "No, not actually", she says point he explained that while "I used to take it all positively positive all this while. I guess at view of Susanna (the character with a wink, "People may say Ready is a full on comedy flick, because I knew I was here to the end of it all, you get what you that she plays in the film). The that this woman is really wicked Bodyguard is a romantic action play a long innings,", Sonam deserve. You work hard and you only thing that she looked for in but then they would also exclaim drama and thus they do not fall says in a confident tone, "With I work for the best rather than life was love and this is what that that 'Ok, it's fine actually because in the same category as Hate Luv Storys turning out to thinking about some stray noises kept evading her", says the she had some good reasons of Dabangg, which was a hard be successful and Aisha receiv- around you. I am content and National Award winning actress her own to get rid of these men." core 'masala' entertainer. know there are good things in laid to rest by Shahid himself ing critical acclaim, at least the store for me." who has this to say, "Yes, I am noises have gone down. doing only one film: Mausam at this moment. Doing this doesn't mean that it will be a trend henceforth. I am sticking to doing only one film because Mausam requires my time and attention. It is my father's most Bollywood star, Shahrukh cherished scripts and I want to Khan has been maintaining be part of this emotional joursupreme secrecy as far as his ney. That is the main reason for look is concerned in his doing only one film at a time. upcoming film Don 2, the But, in future I would love to do sequel to Don, however not at least three films a calendar. I anymore. An insider source has am open to all possibilities, revealed SRK's closely-guardthere's no trend that I am followed look in the film. ing or setting in." Bolywood baadshah, who's It must be mentioned that making frequent trips to Mausam assumes special signifMalaysia, to shoot for the sequel, was recently spotted for the sequel. Shahrukh's icance for Shahid as the film having dinner with Malacca newly acquired rugged and marks the directorial debut of Chief Minister in his new look. macho avatar adorned with a his dad Pankaj Kapur who is Looks like, Shahrukh sheds ponytail, tattoo et al gives that leaving no stone unturned to ISLAMABAD: Models wak down the ramp during a fashion show organised by Asim his suave, oh-so sweet boy international appeal to his make it one of the most remembered cinematic creations. looks, which he carried in Don, character in the film. Yar Tiwani in collaboration with Sobia’s at a local hotel.-Online
Perception towards me Shahid not always positive: Sonam interested in
Aamirs style
Priyanka defends her murders
A
Ready & Bodyguard not similar to Dabangg: Salman
R
Shahrukhs secret look in Don 2 revealed
King's Speech sweeps board at BAFTAs "The King's Speech" continued its regal progress through the awards season, winning the Best Film award at the BAFTAs, as Colin Firth, who plays the film's stammering monarch, picked up Best Actor. The dramatisation of the truelife relationship between King George VI and his speech therapist won seven awards at the ceremony held in central London's Royal Opera House. A selection of Hollywood royalty including Samuel L. Jackson and Mickey Rourke looked on as the story of the stuttering sovereign beat off competition from "The Social Network," "Black Swan," "Inception" and "True Grit". The film, among the
favourites to collect the Best Picture award at the Oscars on February 27, is picking up momentum on the awards circuit. As it was triumphing at the BAFTAs, over in Madrid it picked up the Best European Film prize at the Goyas, the Spanish film awards. And Firth now has the impressive double of BAFTA and Golden Globe for his portrayal of Queen Elizabeth II's father. He is considered to be one of the leading contenders for Best Actor at the Oscars. The 50-year-old actor used his speech to reveal the circumstances of his first meeting with director Tom Hooper. "I had to postpone a routine
but somewhat uncomfortable medical examination," Firth recalled. "I am happy to report that the meeting was rather less uncomfortable than the exam, but as time went on it became clear that Tom's working me thods were just as thorough and invasive as my doctor's. "But when you see the results you're grateful, so I am thankful as I am to my doctor," the "Bridget Jones's Diary" actor added. The Queen was reported to have given the royal seal approval to the triumphant film, an endorsement which Firth admitted meant "a very great deal." Hooper said he was "com-
pletely thrilled" by the film's raft of awards. Helena Bonham Carter earlier won best Supporting Actress for her portrayal of the king's wife. "I'm so used to losing that it's kind of a strange feeling to win," said Bonham Carter in her acceptance speech. "It's very nice, but children, if you're watching, it's not about the winning. It still feels nice." Australian actor Geoffrey Rush walked off with best Supporting Actor for his role as the king's speech therapist. Decades before her death, the Queen's mother told the film's writer, David Seidler, that she approved of him recounting the story once she had passed away.
"She was a lovely old lady and I thought a couple of years, three at the most, but 25 years later I was able to make the film," Seidler said. Natalie Portman was unable to collect the Best Actress award for her performance in "Black Swan" due to her pregnancy. The trophy was picked up by the film's director, Darren Aronofsky. "She trained for a year before we made this movie," Aronofsky told the audience. "When we shot every day she was in every single scene and every single shot. So with a lot of pride I thank you for this for her. Thank you Natalie." West Wing creator Aaron Sorkin scooped the Adapted
Screenplay prize for "The Social Network", a film tracing the rise of social networking website Facebook. "Under normal circumstances I would be very excited about this but sitting in the seat in front of me is one of The Beatles," Sorkin said, referring to fellow guest Paul McCartney. Veteran star Christopher Lee was presented with the Fellowship award by US director Tim Burton. "This is a truly great honour, a great, great honour," the 88year-old actor said. "Two things really make it so. The fact that this was voted to me by my peers and secondly that I received it from one of the great directors of our age."
B’wood descends into Hitler bunker at Berlin fest BERLIN: The producers of a controversial Bollywood film called "Dear Friend Hitler" about World War II and the Indian independence movement have launched a marketing blitz at the Berlin film festival. The movie's backers showed 10 minutes of out-takes from the picture to market buyers and reporters on the sidelines of the festival's sprawling European Film Market. The scenes bear more than a passing resemblance to the Oscar-nominated 2004 German film "Downfall" starring Bruno Ganz, but juxtapose the story against Mahatma Gandhi's non-violent struggle for Indian independence from the British. The Fuehrer, as played by veteran Indian actor Raghubir Yadav, sports the trademark truncated moustache and harangues his generals deep in his Berlin bunker, albeit in clipped Hindi. Former Miss India Neha Dhupia portrays Eva Braun, whom Hitler married hours before they committed suicide in the bunker in April 1945. The title alludes to two letters Gandhi wrote in which he appealed to the Nazi dictator in the vain hope of stopping the war. Even before its premiere, the film has drawn opposition from sections of India's small Jewish community and campaigners abroad for what they feared would be a trivialised portrayal of the fascist leader. But producer Anil Sharma defended the theme of the movie, which is a rare foray into dark material for the Bollywood film industry, more famous for its vast and colourful dance routines and suggestive love scenes. We are not glorifying any character," he told. "We are just telling a lost chapter of Indian independence history." Sharma said that the title had generated intense "curiosity" among international buyers in the German capital. "We have just finished the production of the film and we came to this festival to show it for the first time," he said. We are negotiating with a lot of buyers and exploring possibilities," he added, declining to go into specifics. The film contrasts the fall of the Third Reich with Gandhi's vision for a bloodless struggle that would free India from the British, which Sharma called the ideological clash between "world peace and world turmoil". The original lead actor, Bollywood star Anupam Kher, pulled out of the production early on in the face of protests. "I am deeply moved by the outpouring of messages on social networks, the letters which I have received and the protestations I have heard about from organisations in many countries," he said in a statement sent to media last June. He added on his Twitter account that "sometimes human emotions are more important than cinema." However Sharma insisted Kher had simply been wrong for the part and was replaced with Yadav. Hollywood and European film makers have made dozens of films on Hitler, but opposition to the Bollywood production appears to stem partly from a belief that "Dear Friend Hitler" will misrepresent or make light of the Holocaust. The film, which cost about three million dollars to make, was shot in studio and on location in India.
9
Saturday, February 19, 2011
Brent steady after China move; Mideast in focus
European vegetable oil prices
Weekend G20 meeting to address commodity price inflation
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11 985.00-14.00, Mar11 985.0019.00, Apr11 985.00-19.00, May11/Jul11 995.00-19.00, Aug11/Oct11 1000.00-19.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1025.00+5.00, Aug11/Oct11 985.00-5.00, Nov11/Jan12 995.00-3.00, Feb12/Apr12 1002.00-1.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1445.00+10.00, Jul11/Sep11 1445.00+0.00, Oct11/Dec11 1390.00+5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Mar11/Apr11 1537.50+7.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Afloat 1270.00, Feb11 1270.0015.00, Mar11 1270.00-15.00, Apr11/Jun11 1265.00-10.00, Jul11/Sep11 1227.50-12.50, Oct11/Dec11 1215.00-15.00. PALMOIL: RBD dlrs tonne cif Rotterdam Apr11/Jun11 1302.50. PALMOIL: RBD dlrs tonne fob Malaysia Apr11/Jun11 1247.50-12.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Apr11/Jun11 1255.00-12.50, Jul11/Sep11 1195.00-20.00, Oct11/Dec11 1182.50-20.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2275.00-15.00, Mar11/Apr11 2260.00-5.00, Apr11/May11 2250.00+25.00, May11/Jun11 2240.00. Reuters
LONDON: Brent futures prices were flat on Friday in volatile trading after China increased lenders' reserve rates, which balanced against continuing political tensions in the Middle East and North Africa. China's increase in bank reserve requirements prompted fresh worries about its oil demand growth, but analysts said the move was not a surprise. "They have been trying to curb liquidity for some time, so little surprise and not as bad as a benchmark rate rise, but still slightly weighing on sentiment," said Andrey Kryuchenkov from VTB Capital. Brent crude futures were flat at $102.59 a barrel by 1525 GMT, down from earlier highs of $103.5 a barrel. The Brent and US light crude benchmark future contracts continued to go their separate
Tokyo rubber slips from all-time high TOKYO: Key Tokyo rubber futures eased from record highs on Friday as investors took profits, but any pullback in prices is likely to be seen as a good buying opportunity due to a bullish technical outlook on supply concerns. The key Tokyo Commodity Exchange rubber contract for July delivery hit a record high of 535.7 yen per kg but retreated to settled at 526.4 yen, down 2 yen, or 0.4 per cent, as investors closed positions following a sharp drop in Shanghai rubber futures. The contract posted a weekly gain of 3 per cent. The most active Shanghai rubber futures for May delivery closed down 2.4 per cent at 40,310 yuan ($6,124) per tonne. Volume picked up to 728,602 lots from 616,396 lots. The contract hit a record high of 43,500 yuan last week. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.1 per cent from last Friday, the exchange said on Friday. -Reuters
ways, with US March light crude future turning positive. The front-month US contract was up $1.00 at $87.36 a barrel as investors looked to cover shorts ahead of the contract's expiry on Tuesday, and before Monday's market holiday in the United States. The US light crude April future contract was $1.56 stronger at $90.40 a bar-
rel. Tensions in the Middle East remained in focus after Egypt said it had received a request for Iranian naval vessels to pass through the Suez Canal on Friday, a move Israel's rightwing foreign minister has described as "provocative." Investors also mulled data from the European Central Bank showing that overnight
emergency funding reached 16 billion euros ($21.7 billion) on Friday, the highest level since June 2009. The debate concerning crude benchmarks continued as the spread between Brent and US light crude came in to $12.04 by 1517 GMT. Nomura's Michael Lo argued the change in global oil demand growth was playing a role in the weakness of US light crude, also known as West Texas Intermediate (WTI). "Future oil demand growth will likely come from the Asia Pacific region, and new refineries are being built in this region to meet new demand. WTI plays almost no part in this region, and the demand and supply dynamics are very different," Lo wrote in a note. "Brent is increasingly being recognised as a crude benchmark in Asia." -Reuters
Cotton ends locked at upside limit record high NEW YORK: US cotton futures raced to their 7 cent upside limit shortly after overnight session opened on Thursday and remained there until the close, setting a new record, as mills rushed to price cotton ahead of first notice day. 'They have to price the cotton before first notice day by contractual obligation,' said Ron Lawson, Managing Director, of logicadvisors.com tel. With the Monday US President's Day holiday, next Tuesday is first notice day and March cotton notices must be submitted by 2200 GMT on Friday. March cotton on ICE Futures US closed up 7 cents, or 3.55 per cent, at $2.0402 cents a lb. an all-time high. Now benchmark May cotton also soared 7 cents, or 3.59 per cent, to the upper limit at $2.0193 and ended there. Volume in March futures came to 6,975 lots, with open interest now at 13,427 lots. May volume rose to 9,301 lots with open interest growing to
70,469 lots. After both March and May contracts were locked at the 7 cent limit, many players tried to execute their cotton trades synthetically via the options market. But by mid-morning in New York, options had advanced to their double limit and trading was halted in those contracts as well. Some brokers said mills needing to fix cotton prices bought on call waited too long to get out of short positions in the futures market taken out as protection before the cash contracts were settled. But too many players waited too long to cover short positions, until there was a lack sellers, said brokers. On Thursday, the USDA reported another week of hefty export sales coming in at 188,900 running bales for the current crop and 110,300 bales for the new crop. Weekly shipments were healthy at 405,400 running bales, illustrating the strength of global demand. -Reuters
Copper rises on dollar, Vale news lifts nickel LONDON: Copper rose on Friday as the dollar softened versus the euro, attracting non-US investors, while news miner Vale would cut some of its nickel output underlined rife concerns about tightness in metals. Three-month copper on the London Metal Exchange closed at $9,860 a tonne compared with a close of $9,802 on Thursday. The metal used in power and construction hit a record high at $10,190 earlier this week. Boosting metals, Brazilian miner Vale said on Friday it will lose around 5 per cent of its total 2011 nickel production due to a 16-week shutdown of a smelter furnace in Canada. Nickel, untraded at the close, was last at $29,150/29,155 a tonne, off an earlier high of $29,289, from a close of $28,490 a tonne. Copper earlier softened as China on Friday raised banks' required reserves by 50 basis points, showing no let-up in a campaign to stamp out stubbornly high inflation. "It is an indication that the Chinese are doing things to slow down the economy and taking some heat out of the economy, but it's not a big surprise," Danske chief analyst Arne Lohmann Rasmussen said. "Our
view is there is still some upside in copper, the global growth picture is still good." Copper is widely expected to
Shanghai copper declines Shanghai copper fell more than one per cent to its lowest in nearly three weeks on Friday, as worries on further monetary tightening in China weighed on financial markets, although longer term demand outlook remains strong. Shanghai's most-active copper contract for May delivery fell to 73,820 yuan a tonne, its lowest since Jan 31. It closed down 1.1 per cent at 73,850 yuan, finishing the week down 2.2 per cent. Shanghai zinc rose nearly two per cent to 20,130 yuan a tonne, and softened to 19,945 yuan by close, up one per cent.
build on its nearly uninterrupted rally in the second half of 2010 as ore grades decline, new mines remain scarce and top buyer China grows. Investors are following devel-
opments from a G20 financial leaders meeting in Paris. The world's major economies were split on Friday over how to measure imbalances in the global economy in a bid to avert future financial crises, Japan's finance minister said. Copper inventories in London Metal Exchange warehouses, at 407,925 tonnes, hit a six-month high. Aluminium stocks, which have neared record highs of 4,640,750 tonnes hit in January 2010, fell 5,025 tonnes to 4,593,175 tonnes. Zinc hit a three-month high of $2,565, later closing at $2,553 versus Thursday's close of $2,514. Traders said some investors had pulled out of copper to buy zinc, which was the worst performer among industrial metals in 2010. Aluminium closed at $2,570 from $2,513 a tonne at Thursday's close. Battery material lead was at $2,665 from $2,585 a tonne. Tin closed at $32,350 from $31,650 a tonne, within reach of this week's record of $32,799 a tonne. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 17 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1255
January (3rd Wednesday)
1310
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for February 17 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2320 2330 2300 2310 2265 2275 2265 2275
2473.5 2474 2505 2506 2570 2575 2613 2618
9799.5 9800 9785 9790 9640 9650 9260 9270
2586 2587 2581 2582 2528 2533 2485 2490
28295 28300 28320 28350 27285 27385 25965 26065
TIN
ZINC NASAAC
31450 2460.5 31455 2461 31450 2489 31500 2490 31050 2527 31100 2532 2513 2518
2467 2468 2480 2485 2520 2530 2575 2585
ABIDJAN - IVORY CORAST: Cocoa growers protest an export ban by burning sacs of cocoa beans in front of the European Union office. -Agencies
NY cocoa reaches new 1-year peak LONDON: Cocoa futures climbed to their highest in more than a year on Friday after Ivory Coast's incumbent leader decreed that major banks suspending business in the top cocoa grower would be nationalised. Arabica coffee was largely flat, just below the nearly 14year peak touched earlier, with prices underpinned by roaster buying. Raw sugar was little changed within a tight range a few cents below 30-year peaks. ICE benchmark May cocoa futures climbed $38 or 1.1 per cent to $3,476 a tonne at 1522 GMT after earlier reaching $3,485, their highest since Jan. 21, 2010, and less than $30 below the 30-year peak, although volume was thin. Liffe May cocoa was up 18 pounds at 2,250 pounds a tonne, after earlier skipping to 2,257 pounds a tonne, its highest in almost a month and just below a six-month peak. Arabica coffee prices inched up to their highest in almost 14 years, and robusta coffee hit a 2-1/2-year peak as limited supplies of quality beans since at least June 2010 have forced roasters to buy despite the high prices, dealers said. ICE May arabicas rose 2.1 cents or 0.8 per cent at $2.71 per lb at 1522 GMT, after touching $2.7140 a lb, their highest since May 1997. Liffe May robusta coffee was up $32 or 1.4 per cent at $2,337 per tonne after earlier rising to $2,358 a tonne, the highest since July 2008. Raw sugar futures fell further from a 30-year high hit earlier this month, trading in a tight range, as price moves remained choppy and markets were pressured ahead of next month's harvest in top grower Brazil. ICE March raw sugar was up 0.03 cent or 0.1 per cent at 31.29 cents a lb at 1524 GMT, below its 30-year high of 36.08 cents a lb from Feb. 2, while London May white sugar was down $4.40 at $722.40 per tonne. -Reuters
Gold near 5-wk high on Mideast concerns LONDON: Gold held close to an earlier five-week high on Friday and silver near its strongest since 1980 as unrest in the Middle East piqued interest in precious metals, though a Chinese reserve requirement hike curbed gains. Spot gold was at $1,384.10 at 1606 GMT against $1,383.30 late in New York on Wednesday, while US gold futures for April delivery rose 20 cents to
requirements has clearly taken a back seat as the investor focus has been on developments in the Middle East, especially Bahrain," said Pradeep Unni, senior analyst at Richcomm Global Services in Dubai. "Though the situation is unlikely to get as bad as Egypt, the 'fear factor' is fully back in the markets. Further gains could be possible if the situation worsens."
$1,385.20. Gold's bounce-back after it fell more than 6 per cent in January has wrong-footed some investors, who were waiting for lower price levels to buy into the market, analysts said. Silver was at $32.24 against $31.74 after hitting a high of $32.34, a 31-year peak. Gold earlier hit a five-week high at $1,388.15 an ounce. It pared gains after China said it was raising lenders' reserve requirements by 50 basis points but remained firmly underpinned by investment interest in precious metals. "The hike in Chinese reserve
Concerns over the political stability of the region have flared this week, with unrest spreading after protests in Tunisia and Egypt unseated leaders there. Investment demand for silverbacked exchange-traded funds has shown some signs of stabilising after hefty outflows last month. Holdings in the largest, the iShares Silver Trust, edged up to 10,438.56 tonnes on Thursday from 10,411.23 tonnes. Platinum was at $1,839.49 an ounce against $1,842.74, while palladium was at $850.22 against $840.97, having earlier touched a 10-year high at $851.22. -Reuters
Palm oil dips on China tax concerns JAKARTA: Malaysian palm oil futures fell on Friday, reversing earlier gains as they took direction largely from other oil markets and possible food import tax changes in China. The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 1 per cent to 3,683 Malaysian ringgit ($1,209) a tonne after touching a low at 3,660 ringgit. Overall, traded volume stood at 17,870 lots of 25 tonnes each, compared with a total of 20,321 lots on Thursday. Prices this week have fallen around 7 per cent in volatile trading, on worries that prices had overrun the bullish fundamentals and as some investors closed their positions. The benchmark notched its biggest
weekly loss since August 2010. On Thursday, talk of a possible cut in a range of import taxes in China was the catalyst for losses as prices hit a threeweek low at 3,648 ringgit. Malaysian and Singapore traders dealing with China said Beijing may reduce import duties for soybean oil to 5 per cent from 9 per cent and cut soybean import taxes to 1 per cent from 3 per cent, while keeping palm oil duties at 9 per cent. Global palm oil production stands at about 45 million tonnes per year, with China buying around 7 million tonnes. ICDX's April CPO futures contract was at 11,025 rupiah per kg, compared with 11,205 rupiah per kg when it opened. Market volume was 200 lots of 10 tonnes each. -Reuters
Indian sugar holds steady MUMBAI: Indian sugar prices were steady in lower volume trades as demand remained muted for the sweetener despite ongoing wedding season and as higher quota of nonlevy sugar for the month weighed, dealers said. India has made available 1.62 million tonnes of nonlevy sugar for February, including 300,000 tonnes unsold stocks of January. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. "There wasn't substantial increase in demand for the current wedding season and volumes were also not very high," said a kolhapur-based dealer. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety edged up by 1 rupee to 2,674 rupees ($59.1) per 100 kg. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) was up 0.14 per cent at 2,808 rupees per 100 kg at 4:04 p.m. "People are expecting some announcement on sugar exports from the government, which could push prices up," S.D. Bhoite, a Kolhapur based exporter. -Reuters
National Commodity Exchange Ltd Trading Summary Date
Commodity
18-Feb-2011 CRUDE100 18-Feb-2011 CRUDE100 18-Feb-2011 CRUDE100 18-Feb-2011 SILVER - SL500 18-Feb-2011 SILVER - SL500 18-Feb-2011 GOLD 01oz 18-Feb-2011 GOLD 01oz 18-Feb-2011 GOLD 01oz 18-Feb-2011 GOLD 100oz 18-Feb-2011 GOLD 100oz 18-Feb-2011 GOLD 100oz 18-Feb-2011 GOLD 18-Feb-2011 GOLD 18-Feb-2011 GOLD 18-Feb-2011 KILOGOLD 18-Feb-2011 KILOGOLD 18-Feb-2011 TOLAGOLD50 18-Feb-2011 TOLAGOLD100 18-Feb-2011 MINIGOLD 18-Feb-2011 MINIGOLD 18-Feb-2011 MINIGOLD 18-Feb-2011 MINIGOLD 18-Feb-2011 MINIGOLD 18-Feb-2011 TOLAGOLD 18-Feb-2011 TOLAGOLD 18-Feb-2011 TOLAGOLD 18-Feb-2011 TOLAGOLD 18-Feb-2011 TOLAGOLD 18-Feb-2011 IRRI6W 18-Feb-2011 RICEIRRI - 6 18-Feb-2011 RBD PALMOLEIN 18-Feb-2011 KIBOR3M 18-Feb-2011 KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 MA11 AP11 MY11 MA11 AP11 MA11 MA11 MON TUE WED THU FRI MON TUE WED THU FRI 24FE11 FE11 FE11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
84.96 87.91 90.77 30.71 31.50 1380.00 1379.90 1380.90 1380.00 1379.50 1381.10 38084.00 38065.00 38112.00 38056.00 38068.00 44388.00 44388.00 39128.00 39171.00 39185.00 39199.00 39113.00 45500.00 45022.00 45455.00 45500.00 44956.00 3275.00 3306.00 5452.00 86.22 85.64
86.63 89.30 91.56 31.91 31.85 1388.50 1388.70 1389.70 1384.10 1388.50 1384.40 38180.00 38250.00 38208.00 38152.00 38164.00 44500.00 44500.00 39210.00 39252.00 39266.00 39280.00 39294.00 45600.00 45118.00 45455.00 45500.00 45166.00 3275.00 3306.00 5452.00 86.22 85.65
84.75 87.90 90.77 30.70 30.75 1378.70 1378.70 1379.70 1380.00 1379.50 1381.10 38084.00 38065.00 38112.00 38056.00 38068.00 44388.00 44388.00 39128.00 39171.00 39185.00 39199.00 39113.00 44972.00 45022.00 45038.00 45055.00 44956.00 3232.00 3254.00 5449.00 86.20 85.64
86.45 89.25 91.56 31.85 31.85 1384.10 1384.40 1385.10 1384.10 1384.40 1384.40 38180.00 38191.00 38208.00 38152.00 38164.00 44500.00 44500.00 39210.00 39252.00 39266.00 39280.00 39294.00 45069.00 45118.00 45134.00 45150.00 45166.00 3232.00 3254.00 5449.00 86.20 85.65
Traded Volume in lots 586 163 215 1 543 1,447 1,308 27 3 11 1 1 -
Previous Settlement Price 86.27 88.97 91.26 31.65 31.66 1383.50 1383.80 1384.50 1383.50 1383.80 1384.50 38188.00 38200.00 38216.00 38161.00 38172.00 44510.00 44510.00 39219.00 39262.00 39277.00 39291.00 39305.00 45080.00 45129.00 45145.00 45162.00 45178.00 3275.00 3306.00 5452.00 86.22 85.64
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 86.45 150 89.25 51 91.56 3 31.85 93 31.85 2 1384.10 804 1384.40 1,098 1385.10 1,160 1384.10 1384.40 14 1385.10 38180.00 1 38191.00 81 38208.00 38152.00 38164.00 44500.00 44500.00 39210.00 39252.00 39266.00 39280.00 39294.00 45069.00 21 45118.00 6 45134.00 3 45150.00 1 45166.00 3232.00 3254.00 5449.00 86.20 85.65 -
Australian couple dancing during competition at ISU Figure Skating Championships in Taipei
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Saturday, February 19, 2011
Wozniacki regains top rank DUBAI: Denmark's Caroline Wozniacki regained her status as world number one when she defeated Israeli Shahar Peer 62 6-4 to reach the semi-finals of the Dubai tennis championships on Friday. The victory ensured that Wozniacki, who had surrendered her number one ranking to Belgian Kim Clijsters a week ago, will return to the top spot when the new world rankings are issued on Monday. "Of course it's nice to be back at number one," Wozniacki told reporters. "You know, it's a good feeling. Yeah, I gave Kim one week. Hopefully now I'll have it for a few more weeks." Australian Open champion Clijsters, who took the top ranking on her way to the Paris Open final last week, is not playing in Dubai. Top seed Wozniacki, who has been criticised for reaching the top of the rankings without ever winning a grandslam tournament, made a good start on Friday in a match staged on a side court for security reasons. She twice broke the ninth seed to love and dropped just two points in the first three games, taking a 3-0 lead with a particularly fine crosscourt forehand winner. "The crowd was sitting all on one side, so (it was) definitely different than playing in the stadium," Wozniacki said. "But, to be honest, I was just focused on my game. I know that if I'm playing well I'm tough to beat." Peer broke in the fourth game but Wozniacki went on to break again for 5-2 and served out the set. In the second set, Peer earned just one point in the first four games, when Wozniacki double-faulted, and twice double-faulted herself on break point. The match then became more competitive and Peer broke for 2-4. Although Wozniacki then broke to lead 5-2 she was unable to serve out the match at her first try. She also had to fight off two break points at 5-4 before securing her victory.-Reuters
No specific terror threat to World Cup: US WASHINGTON: Noting that there is no specific terrorist threat to the ICC World Cup being held in India, Bangladesh and Sri Lanka, the US has urged its citizens to be alert while travelling to these countries during the tournament as such big events are always a soft targets for the militants. According to PTI, Department of State alerts US citizens traveling to or residing in India, Bangladesh, and Sri Lanka to safety and security
issues related to the ICC Cricket World Cup scheduled to be held in those countries between February 19 and April 2, 2011," said a US travel advisory. While the US government has no specific threat information regarding the Cricket World Cup, high-profile events of this nature can be targets for terrorist attacks, the State Department said in a statement a day after the mega cricket event was kicked off in Dhaka.-Online
India beat Pakistan in AJS C’ship LONDON: The rapid growth of squash in India was underlined when the country's boys team upset arch rivals and title holder Pakistan in the final of the Asian Junior Team Championships in Colombo, Sri Lanka, to win the prestigious title for the first time since the inception of the championships in 1981, says a release of the UK-based World Squash Federation. Playing to a packed crowd at the Sri Lankan Air Force base squash venue, the Indian players Ramit Tandon, Abhishek Pradhan, Mahesh Mangaonkar and Vrishab Kotian rose to the occasion as they outmaneuvered and outplayed the mighty Pakistanis. Tandon put the underdogs in the driving seat after overcoming Pakistan number one Danish Atlas Khan 11-7, 6-11, 11-9, 8-11, 11-9 in a 90-minute marathon.
WORLD CUP WARM UP MATCH
Top seeds Pakistan drew level when second string Nasir Iqbal beat the Indian number two Abhishek Pradhan in straight games. But Mahesh Mangaonkar stamped his authority on the decider from the outset, beating Pakistani Sadam Ul Haq 11-7, 11-2, 11-6 to lift the trophy. The results: Men's Final: India beat Pakistan 2-1 Ramit Tandon beat Danish Atlas Khan 11-7, 6-11, 11-9, 811, 11-9 Abhishek Pradhan lost to Nasir Iqbal 4-11, 7-11, 3-11 Mahesh Mangaonkar beat Sadam Ul Haq 11-7, 11-2, 11-6 3rd place: Hong Kong China & Malaysia 5th place play-off: Japan beat Sri Lanka 2-1 7th place play-off: Kuwait beat Singapore 2-1 9th place play-off: China beat Iran 2-1 11th place: Jordan.
DUBAI: England cricket team celebrates the dismissal of Pakistan's Imran Nasir, for two runs during their Twenty20 cricket match .-Reuters
England steamroll Pakistan by 67 runs “We're back in form” England’s expression after big win FATULLAH: England's Kevin Pietersen and Paul Collingwood finally found some much-needed form as Pakistan were brushed aside by 67 runs in the final warm-up before the Cricket World Cup starts on Saturday. Pietersen, in an unaccustomed role as opener, hit 66 from 78 balls and Collingwood chipped in with 65 as England were all out for 273 on Friday. Pakistan struggled early in response with Stuart Broad again England's spearhead with the ball, taking care of the top four batsmen in the order. Broad, who rejoined the England party after missing much of the Australian tour with an abdominal
England begin their Cup campaign proper on Tuesday against Netherlands in Nagpur, India, and Pakistan start theirs a day later in Hambantota, Sri Lanka, against Kenya. Paul Collingwood proclaimed on Friday that England had finally found form after he helped propel them to a 67-run win over Pakistan in the final warm-up before the Cricket World Cup starts on Saturday. Kevin Pietersen, in an unaccustomed role as opener, hit 66 from 78 balls and Collingwood chipped in with 65 as England were all out for 273 on Friday.
SL back cricket team to lift WC
Kenya likely to be easy meat for New Zealand NEW DELHI: New Zealand have the best possible opportunity to put their poor buildup behind them with a victory against Kenya, probably the weakest team in the World Cup, in a Group A match in Chennai on Sunday. Daniel Vettori and his team mates head into the tournament without the usual look of a team renowned for punching above their weight, especially in major tournaments. The team has been whitewashed by Bangladesh and India before they lost a home series against Pakistan and the string of defeats prompted the board to hand over the coaching reins to John Wright, hoping he will replicate the success he had as India coach from 2000-2005. A pasting New Zealand received in their warm-up match against India did not help their preparation either nor did sickness which hospitalised spinner Nathan McCullum but they can expect a cakewalk against Kenya at the M A Chidambaram Stadium.Reuters
injury, finished with 5-25 including the key scalp of Younis Khan, caught behind for 80. Pakistan were all out for 206 in the 47th over. Collingwood shone with the ball too with his medium-pace seamers, grabbing 3-48. The Pakistan all-rounder and captain Shahid Afridi did not play. The teams met last year in a controversial tour in England in which three Pakistan players including then captain Salman Butt were later found to have been involved in fixing parts of a test match. They each received fiveyear bans.
ISLAMABAD: Federal Minister for Interior Senator A Rehman Malik wishing good luck to the Pakistan cricket team after writing his comments on the wish wall at Pakistan Sports Complex.-Online
COLOMBO: Sri Lankans believe their national team would lift the cricket World Cup 2011, an opinion survey revealed Friday. The local Financial Times newspaper opinion poll showed that 68 percent believed Sri Lanka will win the World Cup. Six percent believed Australia will win but only three percent backed India, another major contender to win. Despite a heavy rush for tickets opposite the local governing body headquarters with police being called to control order, only 11 percent said they would
watch the match at the ground with an overwhelming 64 percent opting to watch on television. Sri Lanka co-hosts the tournament with India and Bangladesh. Some 12 games including a key quarter final and a semi final will be played in the country. Cricket is the most popular sport in Sri Lanka which is a major international power having won the World Cup in 1996. In 1999 they failed to reach the last stages while in 2003 and 2007 their cup hopes were dashed by Australia.-NNI
India ambush marketing defeating cricket chiefs MUMBAI: Cricket's popularity in India and the huge revenue it generates is hampering the governing body's efforts to crack down on ambush marketing there, according to experts on the eve of the World Cup. The tournament, organised by the International Cricket Council (ICC), will be co-hosted by India, Sri Lanka and Bangladesh and starts on Saturday. The final is on April 2. Ambush marketing refers to companies promoting their brands or products by associating them with a team, league or event without paying for the privilege.
It is the biggest bugbear for official sponsors at sporting events whose outlay often runs into tens of millions of dollars. "In a country like India, where there is so much money that's generated from the game, it is difficult for the ICC to come down very heavily or enforce those rules strictly on the players or the companies," said columnist Ashok Malik, an expert on the business of sports. Recently, Indian cricket captain Mahendra Singh Dhoni was rapped by the ICC for promoting and endorsing the products of Sony Corp and Aircel, which are not official sponsors of the Cup,
according to unconfirmed media reports. The ICC has signed firms such as Reliance Communications, LG, PepsiCo, Reebok, Hero Honda, Emirates, Yahoo, Castrol, MoneyGram and Hyundai Motors India as official sponsors. In October last year, the legal head of the ICC had issued a stern warning saying players indulging in ambush marketing would be excluded from participation in the World Cup. However, media reports said Dhoni was only given a written warning for promoting Sony and Aircel, although the global crick-
et body declined to confirm this. Latika Khaneja, director at Collage Sports Management, a firm that handles endorsement deals for several Indian cricketers, said there was generally a seven-day cooling off period for non-sponsors to take their advertisements off before the event begins. The responsibility to do so should lie with the company and not the sportsperson, Khaneja added. South Korean consumer durables maker LG Electronics, one of the official sponsors, said it was spending 700 million rupees ($15.49 million) on the
event, excluding sponsorship fees. "We have been assured by them (ICC) that they will make sure that our rights are protected," said L.K.Gupta, chief marketing officer, LG Electronics, India. However, officials say it was difficult to keep a tab on advertising mediums other than television or newspapers."There are places, like railway stations, where it is just not possible to stop ambush marketing," Lalchand Rajput, former Indian cricketer and joint secretary of the Mumbai Cricket Association, said.-Reuters
Pietersen can fill Botham role: Gatting LONDON: Former England captain Mike Gatting has backed Kevin Pietersen to be the current side's batting equivalent of Ian Botham when the South Africa-born shotmaker opens at the World Cup. Wicketkeeper Matt Prior, having won back his place in the squad from rival gloveman Steven Davies, had been a candidate to open although his previous stints at the top of the order had met with mixed success. And there were suggestions that either one of Ian Bell or Jonathan Trott should partner England captain Andrew Strauss for the first wicket. But England surprised most people outside their camp by promoting Pietersen, normally a number four, to the top of the order in a warm-up match against Canada and then announcing they intended to stick with him in his new role for the World Cup. However, Gatting said given the range of shots available to Pietersen, arguably England's most talented batsman, it made sense to give him as much time to bat as possible. The former Middlesex runmachine said the ploy could prove as successful as that used during his playing days when the big-hitting Botham, a middle-order batsman in Test cricket, was promoted to open in one-dayers -- in which role he helped England reach the 1992 World Cup final. -APP
China rejects key G20 imbalance indicators PARIS: China rejected plans to use real exchange rates and currency reserves to measures global economic imbalances, casting doubt on the ability of Group of 20 major economic powers to reach agreement at a meeting on Friday. Speaking shortly before the start of the two-day meeting of finance ministers and central bankers, Chinese Finance Minister Xie Xuren also said the G20 should use trade figures rather than current account balances to assess economic distortions. "We think it is not appropriate to use real effective exchange rates and reserves," Xie said at a meeting with Russian, Brazilian and Indian counterparts, who collectively make up the BRIC group of major emerging economies. "Emerging markets, to deal with financial crises and economic shocks, they need to set up a certain amount of reserves," he said. The hardline Chinese stance highlighted splits over how to define economic imbalances and prescribe action to avoid future financial crises, although negotiators said several compromise proposals were under discussions. Japanese Finance Minister Yoshihiko Noda said he was not sure there would be any agreement this weekend on a set of indicators, as G20 president France had hoped. "It is uncertain whether the countries will agree on all indicators, but I think agreement on some is possible," Noda told reporters. "From working group discussions, I get the impression countries are now split in half about their opinions." Differences over the causes of and ways to cure global economic imbalances were also on display at a public debate among the world's top central bankers on Friday. Bank of England Governor
Mervyn King, reflecting the view of many Western policymakers, said the world risked protectionism or another financial crisis if policymakers failed to reduce currency distortions and other imbalances. Chinese central bank governor Zhou Xiaochuan said Beijing would decide the pace of the appreciation of the yuan on its own and would not be swayed by pressure from other countries. Simply adjusting exchange rates would not influence Asians' savings behaviour, he said. "A reform of the international monetary system is in order so as to prevent the over-concentration of foreign assets in one particular currency," he said in a reference to the dollar, urging greater use of IMF Special Drawing Rights instead. TWO-STEP Germany, the world's number two exporter after China, said it had no problem with including a balance of payments indicator as part of a set of five measurements. Deputy Finance Minister Joerg Asmussen said a "vast majority" of G20 countries wanted a deal all five indicators. One European source said a possible compromise could involve listing the other indicators -- exchange rates, currency reserves, public debt and deficits, and private savings -while making clear the prime focus would be on current accounts. Another option mooted by deputy finance ministers would be to give China an opt-out from the balance of payments criterion, allowing it to use its trade balance instead, two sources involved in the negotiations said. France has run into opposition with its push for greater transparency and regulation of commodities prices and a reform of the international monetary system and is pin-
ning its hopes on measuring imbalances in the world economy, where the G20 nations account for around 85 per cent of GDP. Finance Minister Christine Lagarde said she hoped the first ministerial meeting of France's year-long G20 presidency would agree a preliminary list of indicators in a twostep process leading to guidelines for unwinding distortions later this year. With world shares near 30month highs, driven by bullish views of economic growth, investors seem content for the G20 to take its time, whereas at the height of the crisis two years ago markets were baying for policy action. "Some may view this sort of outcome as a lost opportunity to prevent future risks, but markets would probably not welcome a heavy-handed attempt to subjugate domestic priorities for the sake of external balance, which could be disruptive unless done just right," Barclays Capital wrote in a research note. In a public debate before the G20 meeting, the US and Japanese central bankers defended their easy money policies against criticism from some emerging countries that they were fuelling disorderly capital flows and commodity prices. US Federal Reserve Chairman Ben Bernanke said faster growth in emerging markets and "the maintenance of undervalued currencies by some countries" had contributed to price rises and unsustainable patterns of global spending. Bank of Japan Governor Masaaki Shirakawa acknowledged that loose monetary policy in the developed world was pushing capital into emerging economies and helping inflate commodities prices but said it was necessary nonetheless.Reuters
Tame Canada Jan inflation defies global trend OTTAWA: Canada's annual inflation rate slipped to a relatively tame 2.3 per cent in January, bucking a global trend which has seen several major nations struggle to keep rising prices under control. January's rate, which matched analysts' forecasts, compares to 2.4 per cent in December. Friday's release from Statistics Canada prompted traders to trim bets on the likelihood of a nearterm rate hike by the Bank of Canada, which targets 2 per cent inflation. The year-on-year core rate, which is closely watched by the central bank, slipped to 1.4 per cent from 1.5 per cent in December. One of the reasons inflation is relatively subdued compared to elsewhere is the strong Canadian dollar, which hit a near three-year high on Thursday against the US dollar. "Those calling for a spring hike just got dealt a blow with inflation that is going absolutely nowhere ... this suggests to me that the Bank of Canada's concerns about the Canadian dollar and its disinflationary influences are still fully operational in the Canadian economy," said Scotia Capital's Derek Holt. Although the powerful currency helps keep prices under control, the Bank of Canada frets it could also hurt the crucial export sector. The Canadian dollar firmed as high as C$0.9825 to the US dollar, or $1.0178, just after the report. By 0830 a.m. (1330 GMT) it had slipped back to C$0.9834 to the US dollar, or $1.0169. Overnight index swaps, which trade based on expectations for the key central bank rate, showed investors see a 99.59 per cent probability rates will stay on hold at the Bank of Canada's next rate announcement on March 1. The market has not fully priced in the odds of a rate hike until July.-Reuters
China ups bank reserves to record in prices fight BEIJING: China on Friday raised required reserves to a record 19.5 per cent, adding to an increasingly aggressive effort by Beijing to stamp out stubbornly high inflation. The fifth increase since October, all in increments of 50 basis points, will force the country's lenders to lock up a bigger chunk of their deposits at the central bank from next week, removing cash from the fastgrowing economy that otherwise would be pushing prices higher. The move by the People's Bank of China followed an acceleration in inflation to 4.9 per cent in the year to January, which was accompanied by worrying signs that price pressures were spreading beyond food to
property and consumer goods. Over the past four months, China has also raised interest rates three times and ordered banks to issue fewer loans in an attempt to make sure it can meet a 2011 inflation target of 4 per cent. By themselves, the individual tightening steps have been small, but taken together they amount to an increasingly intensive effort by Beijing to rein in inflation, which has been a source of political unrest throughout Chinese history. China is not alone. Central banks across emerging markets have tightened monetary policy during the past year as they rebounded from the global financial crisis much faster than the developed world.
Both India and Brazil raised policy rates in January to quell inflationary pressures. "China has been moving pretty swiftly in monetary tightening this year," said Zhu Song, a senior trader at Bank of Communications in Beijing. Sensitive to demand from a country that helped lift the world economy out of the global crisis, copper dipped, oil lost ground and the currencies of commodity exporters such as Australia weakened. "We think there is more to come in terms of reserve requirements and higher rates and a more rapid appreciation of the currency than the market is discounting," said Adam Cole, global head of currency strategy at RBC Capital Markets.
Soaring food costs have driven Chinese inflation, rising 10.3 per cent in the year to January and accounting for nearly threequarters of the jump in overall prices. But pressures have been broadening. Non-food inflation, long subdued, rose at its fastest pace in more than a decade in January. And property prices have also been picking up steam again, despite a battery of measures by the government to cool the real estate market. The latest decision to raise required reserves was, in fact, widely expected by investors in China because a raft of central bank bills will soon be maturing, adding more liquidity to an economy already awash in cash.-Reuters
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Milli Party, JUI Nazariati Party, ANP and others favored the strike and demanded of the government to set up a new transmission line directly from Dera Ismail Khan to Zhob and also ensure the security of supply lines in Balochistan. President Markazi Anjuman-e-Tajraan, Muhammad Raheem Kakar, Yaseen Mangle, Syed Taaj and others addressed the protest rallies and visited different area.-Online
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According to a State document, it will take some time before significant outcomes of the civilian assistance can be measured. Furthermore, performance indicators, targets, and baselines had not yet been established for all of the civilian assistance. USAID, for example, is in the process of establishing new indicators across all sectors, it said. Chairman of the Joint Chiefs of Staff Admiral Mike Mullen has said that a key component of US partnership with Pakistan was to help enable the military's counter-terror and counter-insurgency operations.-Online
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International & Continuation
Saturday, February 19, 2011
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deceased's brother's statement and conclude investigation into Ebad's killing. The United States insists Davis is covered by diplomatic immunity but, while it has signalled it agrees, the Zardari government has so far said the matter must be decided in court.The identity of the US embassy employee who drove the car that struck and killed Ibad-ur-Rehman has not been made public. Rana Sanaullah, law minister in Punjab province said officials were pressing the federal government to arrange for the car to be handed over from the United States, but had not yet received a reply.-Agencies
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8,804 per ATM transaction. It said a significant increase was also recorded in transactions related to real-time online branches (RTOB) as the number of such transactions grew by 10.59 per cent and value of transactions increased by 17.97 per cent. The report said this trend was also witnessed in the large value payments settled through Pakistan Real-time Interbank Settlement Mechanism (PRISM), which increased by 12.73 per cent in volContinued from page 12 No #3 ume and 13.49 per cent in value of transactions compared to the Punjab and 40 in Sindh. previous quarter. The major portion of PRISM transactions, in Chairman Karachi Cotton Brokers Forum Naseem Usman, terms of value was settlements against securities which accounted while commenting on the crop arrival, said that the country for 46 per cent of the total transactions followed by Interbank needs to import more cotton to meet local demand for spinning Funds Transfers (38 per cent) and settlement of retail cheques sector as 1.2 million bales are short this year.-APP
BOJ confident on econ recovery, govt upgrade eyed TOKYO: Many Bank of Japan policymakers grew more confident on the country's economic recovery last month due to receding pessimism over the US economy and signs of an export rebound, minutes of its Jan. 24-25 rate review showed. With optimism rising over the outlook, the government is likely to upgrade its assessment of the economy in its monthly report for February as exports and factory output show clear signs of recovery, the Nikkei business daily said on Friday. The second straight month of upgrades by the government would follow the BOJ's decision on Tuesday to revise its economic assessment upward to say it is gradually emerging from a slowdown. In its report due on Monday, the government will stop short of announcing an end to stagnation but will say there are increasing signs that an exit from the doldrums is near, the paper said without citing sources. A rebound in exports and output, driven by robust demand in fast-growing Asia, has underscored the BOJ's view that the economy is heading towards a moderate
recovery after a mild contraction in the final quarter of last year. That has fuelled growing expectations that no imminent monetary easing is on the horizon unless a severe and sudden financial market shock threatens the fragile recovery. At the January rate review, one board member said the recovery may come around spring, while another member said there was a good chance it may be as early as the first quarter, minutes of the meeting showed on Friday. "However, a few members said that while the chance of Japan's economy resuming a moderate recovery has heightened, uncertainty remains on developments thereafter," the minutes showed. At the January meeting, the BOJ nudged up its price forecast for the year starting in April and forecast an early escape for Japan from the economic doldrums in a quarterly review of its growth forecasts. It kept monetary policy steady and maintained interest rates at a range of zero to 0.1 per cent. At a subsequent meeting in February, the central bank also kept policy on hold and toned up its optimism on the economy.
Minutes of the January rate review showed that the BOJ's nine-member board was mindful of risks and remained cautious about the outlook for developed economies. Many members said balance sheet adjustments will continue to weigh on US growth, while some warned that Europe's sovereign woes may hurt Japan's economy if they destabilise markets, the minutes showed. The board also debated the fallout from the recent spike in commodity costs with many saying it may affect the consumer price index (CPI), the central bank's key price gauge, down the road. While one member said the rise in commodity costs will translate into higher prices for other goods and services, a few said the transfer of costs would be limited, according to the minutes. The BOJ has pledged to keep interest rates effectively at zero until price stability, which it views as consumer inflation around 1 per cent, is in sight. It expects Japan to achieve core consumer inflation of 0.3 per cent in the year beginning in April and 0.6 per cent the following year.Reuters
UK retail sales rebound in Jan, outlook uncertain LONDON: British retail sales rebounded far more than expected in January after December's heavy snow, but failed to ease concerns consumers will be under pressure this year from government cutbacks and possible interest rate rises. Official data showed retail sales volumes jumped by 1.9 per cent on the month -- more than three times faster than analysts had forecast -- following December's downwardly revised fall of 1.4 per cent, the worst for any Christmas on record. Sterling surged half a cent against the dollar to a two-week high on the data, which boosts expectations of a recovery in gross domestic product after a shock contraction in the final
three months of 2010. An uncertain economic outlook is posing a dilemma for the Bank of England which is trying to juggle the demands of reining in inflation, which at 4 per cent is double its target, while not harming economic recovery by raising interest rates too soon. Economists warned that it was too early to tell how consumers were facing up to a value-added tax rise last month and public spending cuts this year. "While we expected there to be some clawback from December's dismal snow-hit retail sales, today's jump is a welcome surprise. But it is still far too early to conclude that consumers are weathering the storm," said Daiwa economist
Hetal Mehta. Economists expect consumer spending to be under pressure throughout 2011. High inflation and limited wage growth is likely to focus spending on essentials, and unemployment is forecast to rise due to job losses from public spending cuts. Markets are also pricing in an interest rate rise as soon as May, saying the Bank of England will forced to act then to curb inflation and kick off monetary tightening which will further pressure consumers. The Office for National Statistics (ONS) said it was hard to disentangle the effects of two successive annual rises in VAT, combined with unusually harsh winter weather in January 2010 and December 2010.-Reuters
multilateral clearing (16 per cent). According to the SBP report, the volume and value of paper based retail payments during the quarter under review were 88.46 million and Rs39.07 trillion respectively which increased by 6.63 per cent in volume of transactions and 9.75 per cent in value of transactions compared to the previous quarter. The contribution of paper based payments in total retail payment transactions was 61.06 per cent in terms of volume and 87.73 per cent in terms of value while the rest of the transactions originated from e-banking, it added.
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implementation of the roadmap and agreed in principle to administer jointly the exchangeable transactions in the Oil & Gas sector and listing of other entities by Privatisation Commission and the Finance Division. It was also recommended for constituting a steering committee comprising all the stakeholders i.e. the Deputy Chairman Planning Commission, Secretaries Finance Division, Privatisation Commission, Petroleum & Natural Resources, representatives of State Bank of Pakistan and Securities & Exchange Commission of Pakistan for selection process of Financial Advisor while the subcommittee of the CCOP will supervise the whole process. The Committee also formulated its recommendations for Initial Public Offerings (IPOs) and Secondary Public Offerings (SPOs) of various PSEs during the current fiscal year. The subcommittee recommendations will be presented in the upcoming meeting of the CCOP for decision. Nadeem Ul Haque, Deputy Chairman Planning Commission, Dr Waqar Masood Khan, Secretary Ministry of Finance, representative of Governor, State Bank of Pakistan, and Muhammad Ejaz Chaudhary, Secretary Ministry of Privatisation/ Privatisation Commission attended the meeting.-Online
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provide depth to the market and facilitate overall growth and development of the capital markets.
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anti-aircraft weapons above the protesters in apparent warning shots and attempts to drive them back from security cordons about 200 yards (200 meters) from the square. The clash came just hours after funeral mourners and worshippers at Friday prayers called for the toppling of the Westernallied monarchy in the tiny island nation that is home to the US Navy's 5th Fleet. The cries against the king and his inner circle - at a main Shiite mosque and at burials for those killed in Thursday's crushing attack - reflect an important escalation of the political uprising, which began with calls to weaken the Sunni monarchy's power and address claims of discrimination against the Shiite majority in the tiny island nation. The mood, however, appears to have turned toward defiance of the entire ruling system after the brutal crackdown on a protest encampment in Bahrain's capital, Manama, which left at least five dead, more than 230 injured and put the nation under emergency-style footing with military forces in key areas and checkpoints on main roads. "The regime has broken something inside of me. ... All of these people gathered today have had something broken in them," said Ahmed Makki Abu Taki at the funeral for his 23-year-old brother, Mahmoud, who was killed in the pre-dawn sweep through the protest camp in Manama's Pearl Square. "We used to demand for the prime minister to step down, but now our demand is for the ruling family to get out."-Reuters
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Sattar, Sindh Governor, Dr Ishrat-ul-Ebad Khan and members the Rabita Committee were also present on the occasion. Later, the leaders of both the political entities jointly briefed the media persons about their meeting. Speaking on the occasion, Interior Minister Rehman Malik said unity is need of the hour and we will jointly serve the people. He said our leadership will take the country on path of progress and prosperity and we will succeed by the grace of Almighty Allah. He said various elements created problems to disturb the process of democracy in the country. MQM Chief Altaf Hussain has always supported us, he said. Rehman Malik said when rumours about break-up of ties between the MQM and PPP were spread a few days ago, Altaf Hussain telephoned him and assured his support. Deputy Convener MQM Rabita Committee, Dr Farooq Sattar said "Altaf Hussain has talked to the PPP leaders via telephone and we and our Chief Altaf Hussain welcomed them to headquarter of our party." He said the visit of the PPP leaders to "nine-zero" is the result of the vision of the leaderships of both the parties. He said we have renewed the commitment, which had been made by us about three years ago. He said we will resolve all the problems through our joint efforts.-APP
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Saturday, February 19, 2011
Power, gas outages hit B'stan hard QUETTA: A complete shutter down strike was observed in Quetta against the load shedding of gas and electricity here on Friday on the call of Markazi Anjuman-e-Tajraan. As per details, shutterdown strike was observed over the call of Markazi Anjuman-eTajraan against suspension of gas and electricity load supply for the last 13 days in different areas of Balochistan including provincial capital Quetta. It is to be mention that
Quetta traders stage shutterdown strike
ISLAMABAD: President Asif Ali Zardari addressing the participants at a special ceremony held at Aiwan-e-Sadr to celebrate the 100th birthday of legendary poet Faiz Ahmed Faiz. -APP
US aid to Pakistan in last 10yrs tops $18bn WASHINGTON: In less than a decade since the 9/11 terror attacks, Pakistan has received more than $18 billion in assistance and reimbursements from the US, about two-thirds of which is security related, a governmental report has said. The US Government Accountability Office (GAO) said in its latest report that foreign assistance is vital to help the government of Pakistan overcome the political, economic, and security challenges that threaten its long-term stability.
"Since 2002, the United States has provided over $18 billion in foreign assistance and reimbursements to Pakistan, about two-thirds of which has been security- related," the report said. Pakistan has been a key US ally in America's 'war on terror' launched after the September, 2011 terror attacks in the US. The report noted that Taliban, al Qaeda, and other terror groups have used parts of Pakistan to plan and launch attacks on Afghan, US and Nato security forces in
Afghanistan, as well as on Pakistani citizens and security forces in Pakistan. Enhancing the effectiveness of civilian assistance to Pakistan is one of the US government's top foreign policy and national security priorities, it said. The GAO said in reports and testimonies since 2008, it has identified the need to improve planning, monitoring, documentation and oversight of US assistance to Pakistan. "For example, in previous reports we have noted the need
US defence secy worries about Pakistan
A terror-triggered Pak-Ind jar feared WASHINGTON: US Defence Secretary Robert Gates worries about the future of Pakistan, fearing that terrorist groups might try to provoke a mighty jar between India and Pakistan to destabilise the country. "I worry a lot about Pakistan. It has huge economic problems... They have a serious internal terrorism threat that is seeking to destabilise Pakistan itself," he said at a hearing of a Senate committee Thursday. "And I worry that some of those terrorists might try and provoke a conflict between Pakistan and India," Gates said adding, "I think that there's a lot to be concerned about with Pakistan." Noting that terrorist sanctuaries still exist in Pakistan, Gates praised Islamabad for moving troops from its border with India towards the Afghanistan border. "The Pakistanis have 140,000 troops on that border. These things improve step by step, not as quickly as we would like, but we get to a better place over time," he said. "If you'd asked me two years ago if the Pakistanis would withdraw six divisions from the Indian border and put them in the west, I would have said impossible. "If you would have asked me if we would begin coordinating operations on both sides of the border with
Afghan and ISAF forces on the one side, and the Pakistanis on the other, I would have said that's very unlikely," he noted. "They are chipping away at some of these sanctuaries. It's very important what they've done in South Waziristan and Swat. But it's a mixed picture and it's something we just need to keep working at it," Gates said. Meanwhile, Chairman of the Joint Chiefs of Staff, Admiral Mike Mullen, suggested that Washington should take steps to ensure better ties between India and Pakistan to ease the environment of mistrust and animosity between the neighbouring countries. "In terms of our broader engagement with Pakistan and the region, reducing some of the long-standing enmity and mistrust between India and Pakistan would greatly contribute to our efforts," Mullen told the House Armed Services Committee. Mullen said the United States recognised the sovereign rights of both India and Pakistan and was not in favour of dictating foreign policies. But being a responsible superpower, it was Washington's duty to build a long-term "partnership with each, and offer our help to improve confidence and understanding between them in a manner that builds long-term stability across the wider region of South Asia," he said.-Agencies
Deadline on 10-point agenda
Sharif not to sell ‘extratime’ to govt Special Correspondent LAHORE: The Pakistan Muslim League-Nawaz (PML-N) chief Mian Nawaz Sharif Friday reiterated that deadline given to the government on implementation of 10-point agenda will not be extended. During a meeting with the delegation of Business Council Pakistan (BCP) in Raiwind, Nawaz said his proposed 10point agenda can be useful in bringing economic reforms in the country. He said protecting business community's interests can be helpful in bringing foreign investment in the country,
which can control inflation. "Political stability, end to corruption, and peace are essential for country's economic reforms, and it can be achieved by implementing PML-N's proposals", said Nawaz. The PML-N leader reaffirmed his party's will for reforming economy of the country by protecting investors and public interests. The delegation comprised Abdul Razzaq Dawood, Mian Mansha, Ali Habib and Muneer Kamal, while Chief Minister Punjab Shahbaz Sharif, Senator Ishaq Dar and Khwaja Asif also attended the meeting.
to increase oversight and accountability for Pakistan's reimbursement claims for Coalition Support Funds and to improve planning, performance, and monitoring documentation of US development assistance to Pakistan's Federally Administered Tribal Areas (FATA)," it said. GAO said as of December 31, 2010, the full impact of the fiscal year 2010 civilian assistance could not be determined because most of the funding had not yet been disbursed. See # 2 Page 11
unknown miscreants blew up two gas supply lines in Dera Murad Jamali few days back and due to this, the supply of gas was suspended to different areas of Balochistan. Crisis of LPG gas is also growing worse in different areas of Balochistan. Fifteen days back unknown miscreants exploded a power supply tower with in the area of Bolan suspending supply of electricity to more than 15 districts. People of Balochistan are in great trouble due to load shedding of electricity. Eight hours in Quetta and 20 hours in rural areas of Balochistan has paralysed all business activities in the province. All markets remained closed on Jinnah road, Liaqat Market, Sooraj Gung Market, Kansi Road, Meeka Road, Mosque Road, Abdul Sattar Road, Fatima Jinnah Road and Prince Road. Different political parties including Ittehad-e-Tajraan-eBalochistan, Pashtoon Awami See # 1 Page 11
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Delegation calls on law minister
Progress is the child of unity: Awan ISLAMABAD: The nation has the capability to progress but it can only be made possible only if there is harmony among all the institutions. Dr Babar Awan, Federal Minister for Law, Justice and Parliamentary Affairs said this while meeting with the delegation of Women Lawyers of Islamabad High Court Bar, Islamabad District Court Bar Associations and office bearers and the members of the Supreme Court Bar Association. Federal Minister said that strength and stability of the institutions lie in the continuity of the democratic process and now no dictator altogether would be allowed to derail it. He said that democracy is a form of government in which every one has a share in contrast to dictatorship which does not allow freedom of expression. The policy of reconciliation and dialogue has led to peaceful transition toward democracy, whereas similar changes were witnessed by other countries in the form of bloody revolutions, the minister added. Dr Babar Awan said that the present government has achieved success in many areas like promotion of the culture of tolerance and the spirit of respecting each other's views in politics is of
paramount importance. He said that the government attaches great value to its writ in any part of the country and that is why it has always worked for maintaining that writ. Federal Minister also handed over a cheque for Rs60 million to Qamar Zaman Qureshi, General Secretary, Supreme Court Bar Association. While giving grants to the members of Supreme Court Bar Association, Federal Minister stressed that they are providing assistance to legal community irrespective of any political affiliation and without discrimination. The delegation of women lawyers expressed various problems faced by them. Federal Minister assured them of doing his best to solve their difficulties. He emphasised on the need of at least 40 per cent quota for women lawyers in various local commissions. He also said that junior women lawyers will not only be taken on various panels but they would also be accommodated in the allotment of chambers. In the end both the delegations thanked the Federal Minister for his time. Muhammad Masood Chishti Secretary Law, Justice and Parliamentary was also present in the meeting.-NNI
Cotton arrival down 9.80pc KARACHI: More than 11.381 million bales of cotton have reached the ginners till February 13, 2011, showing a decline of 9.80 per cent over same period last year. According to a consolidated statement of Pakistan Cotton Ginners Association (PCGA) here Friday, Punjab produced 7.627 million bales, down by 9.30 per cent over February 2010, while Sindh crop declined by 10.79 per cent to 3.754 bales over previous year. Arrival from Punjab --same period last year-- was 8.409 million bales while it was 4.208 million in Sindh. Of the total, textile mills purchased more than 10.379 million bales during the period under review while exporters procured 496,330 bales, leaving an unsold stock of more than 505,941 million bales with the ginners. TCP has so far stayed away from the market. As much as 336 ginning factories were in operation in the country, of which 296 are in See # 3 Page 11
Bahrain troops teargas protesters MANAMA: Soldiers fired tear gas and shot heavy weapons into the air as thousands of protest marchers defied a government ban and streamed toward the landmark square that had been the symbolic center of the uprising against the Gulf nation's leaders. Hospital officials said at least 20 people were injured, some seriously. Ambulance sirens were heard throughout central Manama a day after riot police swept through the protest encampment in Pearl Square, killing at least five people. An Associated Press cameraman saw army units shooting See # 8 Page 11
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