International Karachi, Tuesday, February 22, 2011, Rabi-ul-Awwal 18, Price Rs12 Pages 12
Musharraf promises to develop B’stan next time
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
$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% $1,051 175.24mn
Total Portfolio Invest (12-Feb-2011)
(U.S $ in million)
FIPI (21-Feb-2011) Local Companies (21-Feb-2011) Banks / DFI (21-Feb-2011) Mutual Funds (21-Feb-2011) NBFC (21-Feb-2011) Local Investors (21-Feb-2011) Other Organization (21-Feb-2011)
1.42 -1.90 0.83 -0.22 -0.07 -0.56 0.49
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 11,964.68 10,857.53 23,485.42 18,438.31 2,620.29 2,932.25 6,064.49 12,391.25
Change 76.47 14.73 109.82 226.79 12.40 32.45 18.50 73.11
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)
$.Price PKR/Shares 2.60 110.97 15.00 128.04 2.00 42.68 1.70 36.28 11.03 37.64
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
09-Feb-2011 09-Feb-2011 09-Feb-2011 29-Nov-2010 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011 21-Feb-2011
13.53% 13.69% 13.86% 14.00% 13.20% 13.59% 13.75% 14.14% 14.25% 14.16% 14.21% 14.19% 14.53% 14.75% 14.97%
Commodities *Crude Oil (brent)$/bbl *Crude Oil (WTI)$/bbl *Cotton $/lb *Gold $/ozs *Silver $/ozs Malaysian Palm $ GOLD (NCEL) PKR KHI Cotton 40Kg PKR
104.46 89.72 194.93 1,402.80 33.45 1,205 38,493 12,860
Open Mkt Currency Rates Symbols
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing the assembly session at Parliament House. -APP
President reaches Tokyo on 3-day visit
NCCPL
Buy (Rs)
Australian $ 85.85 Canadian $ 86.00 Danish Krone 15.50 Euro 116.00 Hong Kong $ 10.80 Japanese Yen 1.013 Saudi Riyal 22.68 Singapore $ 66.40 Swedish Korona 13.20 Swiss Franc 89.00 U.A.E Dirham 23.18 UK Pound 137.80 US $ 85.30
Sell (Rs)
86.85 87.00 16.00 117.30 11.25 1.038 22.88 67.40 13.80 90.00 23.43 139.30 85.65
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 1.026 22.64 66.33 13.10 87.63 23.11 136.33 85.36
85.51 86.19 15.42 114.99 10.92 1.028 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
22°C 29°C 23°C 22°C 17°C 22°C
MIN
5°C 14°C 8°C 9°C -2°C 5°C
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PM chairs meeting; says govt to continue reconciliation
SCRA(U.S $ in million)
199.77 -0.98 3.83 2972
Drone strike claims 8 lives in Mir Ali
National interest comes first: PM
Portfolio Investment Yearly(Jul, 2010 up to 18-Feb-2011) Monthly(Feb, 2010 up to-18-Feb-2011) Daily (18-Feb -2011)
See on Page 10
Davis case: we don't need to prepare fake docs: Gilani
Economic Indicators Forex Reserves (12-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 11) Imports (Jul 10-Jan 11) Trade Balance (Jul 10-Jan 11) Current A/C (Jul 10- Jan 11) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Jan 11) Revenue (Jul 10 Jan 11)
Zimbabwe succumbed to Australia game plan
Civil N-agreement with Japan sought TOKYO: President Asif Ali Zardari has said that since Japan is negotiating a deal with India to cooperate on peaceful uses of nuclear energy, the similar cooperation should be extended to his country. "If Japan is willing to cooperate with India in nuclear technology and (is) giving nuclear technology for peaceful purposes, I do not see any reason why we should not deserve the same," Zardari said in an interview with the Japanese media in Islamabad ahead of his departure for a three-day visit to Japan, published in leading English newspapers here. "I do not know what questions would be raised during discussion. It depends," he said when asked if he will raise the
question of nuclear technology cooperation during the visit. President Zardari recognises that nuclear power is a sensitive issue for the Japanese people and government. Neither India nor Pakistan are signatories to the Nuclear Nonproliferation Treaty, and the talks between Japan and India have triggered an outcry from survivors of the 1945 US atomic bombings of Hiroshima and Nagasaki, who fear such a deal will hamper global efforts to bring about a world without nuclear weapons. Japanese firms, however, are keen to export nuclear power generation technology and related equipment to India, See # 8 Page 11
FBR assures KSE to amend SRO 112(1)2011
Revision in CGT evaluation vowed Staff Reporter KARACHI: Federal Bureau of Revenue (FBR) has assured members of Karachi Stock Exchange (KSE) to address their concerns about anomalies in SRO 112(1)2011 of February 11, 2011, make amendments accordingly and issue the same at the earliest. This assurance was given by a team of senior officials of FBR headed by Additional Secretary Revenue Division Asrar Rauf during a meeting with the Taxation Committee of KSE on the instructions of the Finance Minister here Monday. KSE team, led by Abdul Qadir Memon discussed the FBR SRO
112(1)2011 with respect to Rules on Computation of Capital Gains Tax (CGT). They discussed proposal in respect of issues already agreed in a meeting held with FBR and KSE Taxation Committee on January 17, 2011 and communicated vide KSE letter dated January 18, 2011. They also discussed proposals in respect of issues which have arisen due to inadvertent exclusion of certain provisions in SRO 112(1)2011 which were already provided in the Draft Rules published vide SRO 865(1)2010 dated 07.09.2010. Proposals in respect of issues arisen due to insertion of new provisions in See # 9 Page 11
Gilani steps in, directs early Rs30bn for PSO ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has directed finance ministry to provide Rs30 billion immediately to PSO to improve its grave financial plight. Sources told Online Monday that PM Gilani had directed finance ministry to resolve all the matters related to circular debt of PSO till June 30 this year so that it could perform its functions in better way. PM asked finance ministry to ensure payment of Rs30 billion to PSO in the second quarter of the current year. Pepco should also ensure payment of Rs10 billion every month to PSO against its outstanding dues. When contacted by Online, Managing
Director PSO Irfan Qureshi confirmed that PM had issued directives to finance ministry to improve the worst financial condition of PSO. In the prevailing situation, PSO had deferred for 48 hours tender floated for importing petroleum products. "I am in Islamabad, I hope that immediate payment of Rs30 billion will be made to PSO in the light of PM directives and then PSO will be in a position to float tenders again to import petroleum products", he underlined. It may be recalled that dues to the tune of Rs158 billion have to be paid by several departments including power sector See # 10 Page 11
Ministry suggests Rs10-13 raise per litre
In March, POL prices seen marching higher ISLAMABAD: Ministry of petroleum has decided to work out summary for enhancing prices of petroleum products by Rs10 to Rs13 per liter from next month. Well placed sources from petroleum ministry told that PML-N, PML-Q and
MQM had voiced their reservations last month in the meeting of parliamentary committee constituted for reviewing the prices for petroleum products. Therefore, decision was taken in the pursuance of directives of Prime See # 11 Page 11
BAHAWALPUR: Prime Minister Syed Yousuf Raza Gilani on Monday said the government would handle the Raymond Davis case keeping in view the best national interest. "We have to put our country and our concerns on priority, and we will do whatever will be in Pakistan's best interest," Prime Minister Gilani categorically told media persons in response to questions regarding the US national Raymond Davis who had killed two persons in Lahore. Prime Minister rejected Opposition's claims that the fake documents had been prepared for Raymond Davis. "We don't need to prepare fake documents," he said. When asked about Pakistan
Muslim League-N 10-point agenda, Gilani said the committees of Pakistan Peoples Party and PML-N would have a detailed exchange of views on the implementation of agenda items. He said the committee would take the nation into confidence. He said the government was following the reconciliatory politics and believed that a single party could not take the nation out of crises without the support of all political parties. About the status of former foreign minister Shah Mehmood Qureshi in PPP, Gilani said, "Qureshi is in the party, will be in it and will not do anything against the party." He said after meeting with PPP
Chairperson Asif Ali Zardari, Qureshi would "toe the party line". Gilani said he himself was also holding the portfolio of foreign minister till the naming of new minister. Prime Minister said government will continue perusing the policy of reconciliation to promote democratic culture and to bring the country out of current economic and political problems. He mentioned that a number of historical achievements during last three years are the fruit of cooperation among all the political parties. Prime Minister was talking to Federal Minister for law & justice, Dr Babar Awan, Minister for See # 6 Page 11
Final round of talks between 'N'-Govt today
Alliance with PPP on last legs: Sharif LAHORE: Chief, Pakistan Muslim League-Nawaz (PML-N) Mian Nawaz Sharif declaring the federal government incompetent said that time has come to end alliance with
such government. Addressing to party workers in Lahore here Monday Mian Nawaz Sharif dismissed the idea of forming government with PML-Q. He said
that he even can't think about forming an alliance with the Chaudhrys. He said that he had rejected the proposal of alliance with Chaudhrys See # 7 Page 11
2 Tuesday, February 22, 2011
USAID workshop on fraud awareness ISLAMABAD: The US Agency for International Development (USAID) recently held a workshop to help implementers of US funded development programs understand how to prevent waste, fraud, and abuse of resources intended to benefit the people of Pakistan. USAID's implementing partners, federal and provincial government counterparts, and staff responsible for project management took part in the Fraud Awareness and Prevention Workshop, says a press release. Under the Kerry-LugarBerman law, the United States would provide Pakistan $1.3 billion in development assistance through USAID in 2011, ensuring the money is spent without corruption is a key facet of the new law.- NNI
Agility threatens to close PaCCS KARACHI: Agility, a foreign firm providing Pakistan Automated Customs Computerised System to FBR has decided to proceed to the international court for settlement of dues if Federal Board of Revenue, Government of Pakistan does not recommence negotiations with it before February 28, says a Press release. The demand of Agility is that a firm commitment for recommencing of negotiations be communicated otherwise the PaCCS project will be closed down without further notice. Initially, the PaCCS pilot project was designed for only one year to the extent of KICT, the total cost to be paid to Agility was $200,000. Out of which $70 has been paid so far while the project has been going on for over 6 years now and in 3 terminals now.-PR
TUESDAY Time 9:00 9.15 10.00 10.05 11.00 11.05 12.00 12.15 13.00 13.05 14.00 15.00 15.30 16.00 16.15 17.00 17.05 18.00 18.05 19.00 19.05 20.00 20.05 21.00 22.00 23.00 23.05
Programmes News (13 - Min) Pehla Sauda (Live) News (05 - Min) Maang Raha Hai Pakistan (rpt) Headlines Ghar Ka Kharch (Live) News (13 - Min) Power Lunch (Live) News (05 - Min) Doosra Pehlu (rpt) News (01 - Hour) News & Akhri Sauda Boss Nahi Chorayga (rpt) News ( 13 - Min) Karobari Duniya (Live) News (05 - Min) Ghar Ka Kharch (rpt) Headlines Chai Time (Live) Headlines
Pak-Oman agree to cooperate in S&T sector ISLAMABAD: Pakistan and Sultanate of Oman on Monday agreed to extend cooperation between the two countries in fields of Science and Technology (S & T) Oceanography and enhancement of human resource Development that would help to strengthen trade relations between the two muslim brotherly countries. This was decided in a meeting between Federal Minister for Science and Technology, Mir Changez Khan Jamali and Ambassador of Sultanate of Oman, Muhammad Said Al-rawati, who called on the Minister here today. They discussed bilateral and trade relations between the two neighbouring countries, specifically in the field of Science and Technology. Both sides agreed to exchange
information on Science and Technology organizations in the respective countries for identification of areas of cooperation, which has been included as agenda item at the forum of Pak-Oman Joint Ministerial Commission (JMC) being coordinated by Economic Affairs Division of Pakistan, the main focus of which is economic and trade relations between the two countries. Both the countries are also in close cooperation in the field of S & T at the forum of COMSTECH. A proposal of a Memorandum of Understanding (MoU) on cooperation in the fields of standardization and quality assessments between Pakistan Standard Quality Control Authority (PSQCA) and Directorate
ISLAMABAD: Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan taking briefing from the officials of PTV, Islamabad on her first visit after assuming charge of Information Ministry.-APP
Fehmida for promoting multilingualism ISLAMABAD: Dr Fehmida Mirza, speaker National Assembly, has stressed the need for taking measures for preserving and promoting multilingualism in the country. She said that respect for all the regional languages would promote harmony, unity, brotherhood and solidarity among the cultural communities inhabiting all the federating units. She said that in her message on the International Mother Language Day being commemorated under the auspices of United Nations. She said that the day serves us an opportunity to recognize the significance of the mother tongue, the language in which a child communicates in, with his parents and siblings.
The day aims to promote awareness regarding preservation of mother tongue when a lot of people speak other languages due to their social necessities. She said that mother tongue represents the thought, culture and heritage of an individual; therefore, the diverse languages should be preserved and promoted in order to create harmony amongst all the cultural communities. The Speaker said that Pakistan characterizes a rich linguistic and cultural diversity which needs to be promoted and preserved in order to acquire the harmonious and fruitful coexistence of diverse languages spoken in the country. She stressed for incorporation of all the regional languages in formal and
informal education system in vogue. She also called for initiation of measures to give rightful status and importance to all languages spoken in the country. She appreciated the efforts of United Nations specially the UNESCO for pursuing the multilingualism as a means of promoting, protecting and preserving diversity of languages and cultures globally. She called upon the government and international organizations, civil society, educational institutions, and the private sector to join hands to ensure in this respect for diversity is translated into the language of peace and an understanding of universal values we all share to realize a better world.- NNI
Maang Raha Hai Pakistan (Live)
Headlines Doosra Pehlu (Live) Pakistan Aaj Raat (Live) News (01 - Hour) Headlines Cricket Lounge
‘Used cars import will hurt vendor industry’
TV PROGRAMMES TUESDAY 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 19:05 19:30 20:03 21:00 22:03 23:00 23:30
General for Specification and Measurement (DGSAM) of Oman also came under discussion in the meeting which was earlier discussed and exchanged at the forum of JMC in March 2010. The draft is under process for completion of respective formalities before signing that would further expand the bilateral and trade relations between the two countries. Pakistan also offered Oman for enhancement of human resource development for placing its students for studies at National University of Science and Technology (NUST) and COMSAT Institute of Information Technology (CIIT). They further agreed to undertake joint studies on Oceanography in future.-APP
News News Subah Savere Maya ke Sath News Hal Kya Hai (Rpt) News Newsbeat (Rpt) Tonight With Jasmeen (Rpt) News News Samaa Metro News Aap Ki Baat News Hal Kya Hai Crime Scene Newsbeat News Tonight With Jasmeen News 24
Staff Reporter KARACHI: The local manufacturers of automobiles have declared government's decision to allow import of reconditioned cars as detrimental to the local industry and may also result in massive increase in unemployment. Talking to the media at the Toyota's "Dream Car Contest" organized by Toyota Central Motors
(TCM), the Director Marketing, Indus Motors Company (IMC), Raza Ansari said that the local manufacturers had already submitted to the government that import of second-hand cars would badly hurt the vendors' industry in the country and if the vendor industry gets hurt the unemployment in the country is feared. "This is not the right time to allow import of second-
hand cars as demand for automobile is less than the supply and the local manufacturers have already curtailed their production due to the situation", Raza said adding that in such a scenario the vendors' industry that was trying to get on its feet may sink-up again. He said that the relaxation announced by the government in import policy of used cars will not only put an additional burden on the country's import bill, but also to devour precious foreign exchange of the country. Earlier, the Chief Executive Officer, IMC, Parvez Ghias announced to send the winner of the nationwide "Dream Car Contest" would be to Japan along with a parent to receive gold medal from Toyota Motors Corporation in Tokyo.
ISLAMABAD: Federal Ministers A Rahman Malik, Dr Babar Awan and Hina Rabbani Khar called on Prime Minister Syed Yousuf Raza Gilani at PM House on Monday.-APP
SC provides relief in HR case ISLAMABAD: Chief Justice of Pakistan Mr Justice Iftikhar Muhammad Chaudhry took notice on an application regarding Human Rights (HR) case and provided relief to victim. According to a press release issued here on Monday, Ghulam Muhammad resident of Islamabad had sent an application stating therein that his 12- year- old sister was kidnapped by accused persons. He lodged FIR with Mansehra police but his sister has not yet been recovered.Further, the accused persons are threatening him of dire consequences. He appealed to the Chief Justice of Pakistan for recovery of his abducted sister and action against the culprits. Action was taken and PPO Khyber Pakhtunkhawa was directed to cause recovery of abudctee, produce her before Sessions Judge, Mansehra for statement and submit report within 15 days. After going through the contents of the report HCJP passed the order that application be filed. - NNI
Locations identified for wind power plants KARACHI: Government of Sindh has planned to establish 150 MW of wind power plant in district of Thatta in collaboration with USAID, an official source said here. At least five locations in Jhampir and Jatti talukas have been identified by the experts in wind power energy and positive developments in this regard are expected in next week, the official said. The official concerned with the project said that the work will be initiated on the project this year. Moreover, private sector will get an investment share of 51 percent while 49 percent share will be financed by the Federal Government to provide cheap energy to the local people who are already facing electricity shortage. The official further said that a high level delegation of USAID held a detailed meeting with the Sindh Chief Minister Syed Qaim Ali Shah last week to finalise the arrangements in this regard and added that the Federal Government has already signed a Memorandum of Understanding with the USAID.-APP
Delay in signing of PTA hitting Indonesia-Pak trade Staff Correspondent LAHORE: The Ambassador of Republic of Indonesia, Ishaq Latuconsina, has said delay in signing of Preferential Trade Agreement is hitting the two way trade between Pakistan and Indonesia and both the countries would have to adopt out-of-thebox methodologies to harness the trade and business potential in the two countries and to increase bilateral trade. The Ambassador was speaking at the Lahore Chamber of Commerce and Industry. LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad, EC Member Mian Zahid Javaid and Chairman Skill Development Council Rehmatullah Javed also spoke on the occasion. The Ambassador also stressed the need for exchange of subject specialists and sector specific experts so that both the countries could be able to learn more and more from
each other's experiences. Ishaq Latuconsina said that sharing of experiences had no match when we talk of any specific product or trade with any country so Pakistan and Indonesia must share their experiences in the larger interests of the business communities in the two countries. He said that the Pakistani businessmen in general and the LCCI members in particular should participate in International exhibition scheduled for October this year to expedite business relations between the two sides as Indonesian market is not very much familiar with Pakistani merchandise. He also urged the LCCI President to arrange a delegation for another exhibition of auto parts being held from March 21 to March 23 as the exhibition would help bring the auto part manufacturers closer. The Ambassador said that it was very encouraging that in the year 2010 as many as 230 businessmen from Lahore visited Indonesia as compared to
110 in 2009. Speaking on the occasion, the LCCI President Shahzad Ali Malik said that Pakistan and Indonesia are the two most populous countries of Muslim Ummah. These two countries together have a population of over 410 million and constitute about 25% of the total Muslim population of the world. Both the countries are bonded together by old historical links and enjoy cordial relations based on commonality of religion. The LCCI President said that although the trade between Pakistan and Indonesia has been gradually growing but it is still at a very low level in view of the size of the markets of the two countries. He said that Pakistan's trade deficit with Indonesia had increased owing to a faster increase in imports from Indonesia compared with exports to Indonesia. Indonesia's import from Pakistan need to be increased to create a win win situation for both the countries.
ICCI for promoting cottage industry ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) on Monday stressed the need for promoting cottage industry saying that a little attention towards this industry could help the government get rid of many economic problems including unemployment and poverty. Cottage Industry has the key importance in the development of the country as it holds a fundamental position in rural set-up besides gaining immense importance in cities and towns," ICCI President, Mahfooz Elahi said while addressing the business community here. He was of the view that cottage and small-scale industry (SME) were labor intensive and provide employment to 80per cent
of the industrial labor force adding that it also reduces the unemployment and offers opportunities for self-employment. He said that the cost of doing business was touching the sky therefore it was imperative for the government to extend help to the cottage industry and announce special electricity tariff to help it compete in foreign market. Pakistan's cottage industry has gained immense importance world over, he said adding there was a great demand for handwoven carpets, embroidered work, brassware, rugs and traditional bangles in the international market. He suggested that a programme for developing and promoting cottage industry both in rural and
urban areas was more feasible as compared to large scale industry that need huge resources. Elahi said that cottage industry make effective use of local raw materials which promotes primary industries and urged upon the government to announce incentives to relieve the industry of multiple challenges it has been facing. President ICCI said that there was an urgent need for implementation of techniques which not only enhances productivity but also help skill development of the laborers and fulfills requirements of the local market. "Government should provide subsidies to promote cottage industry especially in the preliminary stages," he demanded.-APP
Bank Alfalah to sponsor Polo championship
KARACHI: Dr Mark de Rond who teaches Development of High Performance Teams at the Judge Business School, University of Cambridge conducting a two-day Executive Education Programme on the topic for top corporate executives of Karachi School for Business & Leadership (KSBL).-Staff Photo
LAHORE: An avid patron of healthy sporting activities, Bank Alfalah regularly endorses polo and sponsors events related to this royal, equestrian sport. "We have made a longstanding affiliation with the Lahore Polo Club, a collaboration we are immensely proud of, says a Bank Press release. Continuing with our long standing tradition of sportsendorsement, Bank Alfalah is proud to sponsor the 'Quaide-Azam Gold Cup 2011' for the 6th time running. The National Polo Championship of Pakistan attracts spectators from all walks of life and there is active participation by local as well as international players. Spanning a period of 15 days and held at the Lahore Polo Club, the event will run from 22nd Feb 22 to March 6 featuring 8 teams competing for the trophy. The lower limit of the tournament is 10 and the upper limit is 14 goals.-PR
3
Tuesday, February 22, 2011 Top Economic Events
Euro slips on Middle East tensions; data cushions
Time 12:00 14:30 18:30 18:30 19:00 19:00 20:00 20:00
Euro supported by ECB officials' comments, hurdles seen LONDON: The euro slipped on Monday as worries stemming from rising tensions in the Middle East dented risk sentiment, although it was underpinned by hawkish comments from European Central Bank officials and robust euro-zone data. It lacked the vigour to break above key resistance after Germany's main ruling party suffered a crushing defeat at a regional election in the city-state of Hamburg on Sunday. While the defeat was expected, the margin was not. Analysts said that ahead of the remaining state elections next month, the waning popularity of the ruling coalition could suggest that Angela Merkel's government may be less willing to compromise on a comprehensive deal to solve Europe's debt problems or on re-negotiation of
Ireland's existing bailout. With the upcoming Irish general election on Friday likely to see a party which is openly calling for a renegotiation of the bailout agreement come to power, analysts say there is a risk that the euro could come under pressure. The common currency was trading at $1.3660, down 0.2 per cent on the day, holding above near-term support at $1.3643, its 21-day moving average. It rose to $1.3727 earlier in the session, the highest since Feb 10, helped by comments on Friday from ECB
Executive Board member Lorenzo Bini Smaghi. Smaghi, who has sounded a hawkish
tone several times in the past month, said on Monday the euro-zone is enjoying better-than-expected growth and warned rises in food and fuel prices may be becoming a permanent phenomenon. German business morale rose to a record high, a survey from an influen-
Yuan ends up after Officials slow rising currencies hitting record high despite inflation threat Asian Currencies
Indonesian, Thai, Malaysian intervention spotted: Dealers SINGAPORE: The Indonesian rupiah hit another 3-1/2-year high against the dollar on Monday and dealers said the country's central bank was spotted buying dollars, suggesting authorities were not comfortable with the currency's rapid rise. Central banks of Thailand, the Philippines and Malaysia also intervened to curb gains in their currencies and to maintain export competitiveness, dealers said, respectively pushing down the baht, peso and the ringgit. The South Korean won was the worst performer on the day among emerging Asian currencies on caution over possible dollar purchases by the foreign exchange authorities, especially as some dealers suspected the authorities intervened via the non-deliverable forward market
on Friday in New York. "Currency is not the only tool to curb inflation. Other measures are also important," said Philip Wee, a treasury market strategist with DBS in Singapore. The rupiah has risen 1.6 per cent since the Bank Indonesia raised interest rates on Feb 4, which alleviated some worries that the central bank was letting inflation get out of control. The dollar/rupiah came under pressure from sales by custodian banks and leveraged funds ahead of government bond auctions and the central bank was suspected of buying dollars to check the rupiah's strength, dealers say. The pair fell to as low as 8,840, the lowest since June 2007 and compared with its previous close of 8,855.
The dollar/won climbed on importer demand for settlements and caution over possible intervention. Some local players also covered dollar-short positions. The one-month dollar/won NDF was quoted at 1,117.0/7.5 late on Friday in New York and traded at 1,120.2 as of 0510 GMT. "The authorities appeared to manage the closing price of NDFs last weekend, which implies their strong determination to defend 1,110," said a foreign bank dealer in Seoul. The dollar/baht opened at 30.56-30.58 and has given ground right away on catch up selling. It hit low of 30.52 as the Bank of Thailand reportedly intervened by selliing dollars. Reuters
Stg slips, BoE Weale's Swiss franc gains vs comments limit losses dlr, euro
LONDON: Sterling slipped against the dollar on Monday after a failed attempt to push above a key level prompted investors to book profits on its latest rally. But the pound was supported by comments from a Bank of England policymaker underlining growing pressures on the central bank to tighten monetary policy in the face of escalating inflation risks. Speculation of a
rate rise by mid-year has driven a rally in the pound since the start of 2011. Policymaker Martin Weale on Monday said a small rate rise from a record low 0.5 per cent now could reduce the need for a bigger rise later. He joined colleague Andrew Sentance in voting for a rate rise last month. Analysts said Weale's comments supported the pound, but its impact was limited as speculators wait to see if more of the nine policymakers voted for a hike at a meeting earlier this month. Minutes from the meet-
ing will be released later this week. In late London trade, sterling had slipped 0.1 per cent on the day to $1.6222, having slid as low as $1.6205 in earlier trade. The pound pulled back from a climb as high as $1.6260 hit in earlier trade, after it was unable to break above $1.6279, a threemonth high scaled in early February. It failed to make headway towards the key $1.6300 level, a
break above which would be its highest in more than a year. Some in the market said news that UK spirits maker Diageo PLC had agreed to buy Turkish raki spirits producer Mey Icki helped to prompt some M&Arelated selling demand for the UK currency. The euro was flat on the day at 84.25 pence, hovering above a one-month low of 83.56 pence hit last week. The pound showed little reaction to data showing asking prices for UK houses jumped 3.1 per cent over the past month. -Reuters
ZURICH: The Swiss franc rose against the dollar and the euro on Monday, as ongoing geopolitical tensions in the Middle East pushed investors to safe haven assets like the Swissie. The euro dipped on profittaking on Monday after hitting its highest level in more than 10 days as a European Central Bank Executive Board member Lorenzo Bini Smaghi kept alive the prospect of the ECB hiking interest rates before the Federal Reserve. "It's not a euro/Swiss movement, it's a dollar movement," a trader in Zurich said. "Also, euro/Swiss and dollar/Swiss have fallen because everyone's talking about Egypt, in the Suez canal there's the Iranian fleet so people are buying the franc," the trader said. Worries about euro-zone sovereign debts the Swissie gained some 15 per cent against the euro last year, hitting a record high of 1.2400 at the end of December, though it has weakened somewhat since then. The franc was little changed against the euro compared to Friday's New York close, trading at 1.2925 per euro. The franc eased a touch against the dollar to 0.9448 per dollar. -Reuters
Aussie & NZ dollars absorb China news, helped by metals SYDNEY/WELLINGTON: The Australian and New Zealand dollars on Monday lost a little ground to a soft reading on Chinese manufacturing and tensions in the Middle East, though high commodity prices helped underpin the two currencies. A three-point drop in the HSBC flash measure of China's purchasing management index to a seven-month low of 51.5 came as something of a surprise given the strength of recent Chinese trade data. It was enough in an otherwise thin session to nudge the Australian dollar to $0.0116, against $0.0145 late in New York on Friday a session high of $0.0152. The data followed China's move on Friday to raise bank reserve requirements as a means to fight inflation. The local currency is very sensitive to any change in China's monetary policy as it is a key export partner. Still, a rise in industrial metal prices including copper, aluminium, nickel and zinc, suggested demand for commodities had not suffered as yet.
The Australian dollar has showed remarkable resilience with a 1.25 per cent rise last week, making it the third biggest gainer after safehaven Swiss franc and sterling. The Aussie hovered around nine-month highs at 84.07 yen as investors are attracted to high yields. Mirroring its Aussie neighbour, the NZ dollar was firmer at $0.7635, against $0.7617 in New York on Friday when it touched a oneweek high of $0.7658 on short covering. More range trading was expected for the kiwi this week on the lack of major domestic data, with support seen around$0.7583, the Feb. 18 daily low, and resistance around $0.7665, the 21-day moving average. "A weaker dollar and an ongoing global commodities rally remain the factors that are buoying the kiwi," said Derek Rankin of Rankin Treasury. "Exporters should continue to take advantage of the dips, with the fall to $0.7550 last week having been another such opportunity," he added. -Reuters
June 2010. It traded as high as 6.5654 intraday and touched a low of 6.5724. Dollar/yuan offshore forwards rose slightly on Monday to imply less yuan appreciation after they had fallen sharply on Friday to factor in the PBOC bank reserve hike. Benchmark one-year dollar/yuan non-deliverable forwards were bid at 6.4120 late on Monday versus 6.4010 at Friday's close. Their implied yuan appreciation in a year's time fell to 2.48 per cent from 2.65 per cent. Before trade began, the People's Bank of China set the yuan's daily mid-point at a record high of 6.5705, up from Friday's fixing of 6.5781. On top of inflation, China has been under pressure from the United States to let the yuan appreciate in recent years, although the government has repeatedly said it will control the pace of yuan appreciation to suit its economic conditions. While Beijing is partly worried a rapid yuan rise will hit exports and employment in the world's most populous nation, it has nevertheless allowed the currency to appreciate by 26 per cent against the dollar since the landmark revaluation in July 2005. -Reuters
Indian rupee at 7wk high on local shares MUMBAI: The Indian rupee touched a seven-week high on Monday boosted by sharp gains in local shares and on expectations of dollar inflows towards BP's plan to buy a stake in some oil and gas blocks owned by Reliance Industries. BP is making one of the biggest foreign direct investments in India to date with a $7.2 billion tie-up with Reliance Industries to explore for deepwater oil and gas. The partially convertible rupee closed at 44.9850/9950 per dollar after touching 44.9850 -- its strongest since Jan. 4 -- and 0.47 per cent above its 45.1950/2050 per dollar close on Friday. "If the entire $7.2 billion of this BP deal comes in, rupee can touch 43.50 levels. We expect the flows to come in the next 7-10 days," said a dealer at a foreign bank. Indian shares closed 1.25 per cent higher, as the recent correction could have been overdone and most negatives seemed to be priced in, dealers
Events GfK German Consumer Climate Public Sector Net Borrowing Core Retail Sales m/m Retail Sales m/m Belgium NBB Business Climate S&P/CS Composite-20 HPI y/y CB Consumer Confidence Richmond Manufacturing Index
Forecast 5.8 -0.7B 0.7% 0.0% 4.6 -2.2% 63.1 17
Previous 5.7 15.3B 1.0% 1.3% 4.5 -1.6% 60.6 18
Actual
Forecast
Previous
3.1% -0.2% 55.3 60.8 62.6 59.5 111.2 59.0 57.2
0.1% 55.0 58.0 60.3 60.3 110.3 57.3 56.0
Previous Day
tial think-tank showed, suggesting growth in the euro-zone's largest economy is gathering pace. It came after figures showed activity in the euro-zone's private sector grew more quickly than expected this month. All of this lent support to the euro, but it still fell short of testing major resistance around $1.3750, the 76.4 per cent retracement of the February sell-off in the euro. US financial markets are closed for a holiday on Monday. The increase in violence in Libya and the Middle East has pushed Brent crude prices to a 2-1/2 year high -- which should be dollar positive -- but investors have tended to sell the dollar throughout the crisis due to worries over fallout for US foreign policy. The dollar index held steady at 77.729. -Reuters
SHANGHAI/HONG KONG: The yuan closed up after hitting its highest level against the dollar on Monday as the People's Bank of China fixed the mid-point at a record high for a third day, a clear sign the government is willing to let the Chinese currency appreciate to help fight inflation. The PBOC announced on Friday a 50-basis-point RRR rise to a record 19.5 per cent in its latest move to fight high consumer inflation, which rose to 4.9 per cent in January against a year earlier from 4.6 per cent in December. Traders have long predicted the yuan will appreciate 5 to 6 per cent this year as the government is expected to use the currency as part of its strategy to contain price rises. There was no impact from the weekend meeting of finance ministers of the world's major economies, who reached a fudged accord on how to measure imbalances in the global economy after China prevented the use of exchange rates and currency reserves as indicators. Spot yuan closed at 6.5668 against the dollar, up from Friday's close of 6.5732 and having now risen 3.95 per cent since its depegging from the dollar in
Source EUR GBP CAD CAD EUR USD USD USD
said. The rupee was supported by a strong euro for most part of the day, traders said. The one-month onshore forward premiums were quoted at 22.75 points compared with 22.50 points last close. The one-month offshore nondeliverable forward contracts were quoted at 45.22, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, MCX-SX and the United Stock Exchange settled at 45.0375, with the total traded volume on the three exchanges at about $6.80 billion. -Reuters
Source
Events
GBP JPY EUR EUR EUR EUR EUR EUR EUR USD
Rightmove HPI m/m All Industries Activity m/m French Flash Manufacturing PMI French Flash Services PMI German Flash Manufacturing PMI German Flash Services PMI German Ifo Business Climate Flash Manufacturing PMI Flash Services PMI Bank Holiday
0.3% -0.2% 54.9 57.8 60.5 60.3 110.3 57.3 55.9
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3672 1.3714 0.9481 0.9487 1.6227 1.6264 0.9827 0.9869 1.0107 1.0151 113.6700 113.9500 0.8426 0.8443 1.2958 1.2975 134.9300 135.1600 87.7300 88.0500 1403.9500 1403.2500
Bid 1.3669 0.9477 1.6223 0.9823 1.0103 113.6400 0.8422 1.2955 134.8700 87.6700 1402.6000
Low 1.3657 0.9436 1.6207 0.9824 1.0096 113.5700 0.8417 1.2925 134.7200 87.6400 1388.0000
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 21/02/2011 A USD GBP CAD EUR JPY O/N 0.55625 0.46375 - SN 0.10188 1WK 0.25100 0.57563 1.00167 0.66375 0.11250 2WK 0.25600 0.58313 1.03750 0.73500 0.11563 1MO 0.26200 0.61250 1.08250 0.81750 0.12750 2MO 0.28650 0.68250 1.14667 0.91375 0.15313 3MO 0.31250 0.80300 1.21250 1.03000 0.19000 4MO 0.35300 0.88550 1.27500 1.10688 0.24313 5MO 0.40950 0.99175 1.34417 1.19688 0.30000 6MO 0.46500 1.10863 1.41000 1.29250 0.34625 7MO 0.51750 1.18900 1.49083 1.35188 0.39500 8MO 0.57125 1.27525 1.57967 1.40888 0.44313 9MO 0.62825 1.35775 1.65500 1.47813 0.48875 10MO 0.68225 1.43750 1.75250 1.53219 0.51563 11MO 0.73450 1.50688 1.84000 1.58625 0.54250 12MO 0.79300 1.57563 1.93000 1.65500 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 21,2011 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
138.69 116.85 86.63 90.38 86.52 13.32 1.03 15.03 67.02 15.67 22.79 10.97 13.01 305.72 28.15 65.24 23.46 23.26 0.08 2.80
85.25 138.37 116.58 86.43 90.16 86.32 13.28 1.03 15.00 66.87 15.64 22.73 10.95 12.98 305.01 28.08 65.09 23.41 23.21 0.08 2.79
85.07 138.05 116.30 86.20 89.93 86.09 13.25 1.02 14.96 66.69 15.60 22.67 10.92 12.95 304.21 28.01 64.92 23.35 23.15 0.08 2.78
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for February 21, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.20 12.70 12.80 13.00 13.30 13.45 13.62 13.68 13.78 14.10 14.15 14.18 14.20 14.26 14.26 14.25 14.20 14.20 14.50 14.75 14.90
12.40 12.70 12.85 13.15 13.31 13.45 13.55 13.61 13.72 14.10 14.15 14.20 14.20 14.26 14.30 14.25 14.14 14.21 14.55 14.70 14.85
12.30 12.65 12.75 13.05 13.31 13.45 13.55 13.65 13.75 14.02 14.17 14.20 14.21 14.25 14.29 14.23 14.15 14.19 14.50 14.67 14.95
12.50 12.70 12.80 13.10 13.36 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
12.00 12.70 12.85 13.05 13.20 13.45 13.50 13.60 13.70 14.05 14.18 14.22 14.20 14.30 14.35 14.23 14.20 14.18 14.60 14.75 15.00
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
JSCM AvgRate 12.60 12.75 12.90 13.10 13.30 13.40 13.56 13.65 13.75 14.00 14.15 14.18 14.22 14.23 14.30 14.21 14.17 14.19 14.50 14.75 15.00
12.33 12.70 12.83 13.08 13.30 13.45 13.56 13.64 13.75 14.05 14.16 14.20 14.21 14.26 14.29 14.23 14.18 14.19 14.53 14.75 14.97
Currencies Correlation USD/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY
week month months months year years
-0.82 -0.16 -0.72 -0.66 -0.73 -0.85
0.33 0.59 0.36 -0.25 0.79 0.82
-0.37 -0.53 -0.49 -0.73 0.24 0.43
-0.26 0.69 0.14 -0.32 0.66 0.75
EUR/USD GBP/USD -0.64 -0.67 -0.43 -0.74 -0.43 0.06
-0.42 0.10 -0.20 -0.51 -0.78 -0.24
NZD/USD USD/CAD -0.87 -0.85 -0.83 -0.70 -0.79 -0.82
0.24 -0.42 0.52 0.47 0.33 0.75
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)21/02/2011 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 12.10
12.60
12.40
12.90
12.60
13.10
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.30
12.80
12.50
13.00
12.75
13.25
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
13.90
14.40
ASPK 12.10
12.60
12.50
13.00
12.70
13.20
13.30
13.55
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
CIPK
12.40
12.90
12.50
13.00
12.65
13.15
13.40
13.65
13.60
13.85
13.70
14.20
13.90
14.40
14.10
14.60
DBPK 12.10
12.60
12.20
12.70
12.40
12.90
13.20
13.45
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.00
12.50
12.45
12.95
12.70
13.20
13.40
13.65
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.20
12.70
12.45
12.95
12.75
13.25
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
HBPK 12.10
12.60
12.40
12.90
12.70
13.20
13.35
13.60
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
HKBP 12.00
12.50
12.50
13.00
12.80
13.30
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
NIPK
12.50
13.00
12.65
13.15
12.95
13.45
13.25
13.50
13.35
13.60
13.40
13.95
13.50
14.00
13.55
14.05
HMBP 12.00
12.50
12.55
13.05
12.80
13.30
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.25
12.75
12.50
13.00
12.75
13.25
13.30
13.55
13.50
13.75
13.60
14.15
13.75
14.25
13.85
14.35
MCBK 12.00
12.50
12.50
13.00
12.70
13.20
13.35
13.60
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.10
12.60
12.50
13.00
12.65
13.15
13.30
13.55
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.10
12.60
12.40
12.90
12.65
13.15
13.30
13.55
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 12.15
12.65
12.50
13.00
12.65
13.15
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
AVE
12.62
12.48
12.98
12.70
13.20
13.34
13.59
13.50
13.75
13.64
14.14
13.75
14.25
13.85
14.35
12.12
4 Tuesday, February 22, 2011
The Financial Daily International Vol 4, Issue 188
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi
Void of Quality Leadership! Jawad Raza Khan
T
he rise of European colonialism Honorary Advisory Board changed the perception of life Haseeb Khan, FCA S. Muneer Hussain Rizvi wherever it reached. It brought Asim Abbas Ashary, CPA Khurram Shehzad, CFA modern Western ideas and concepts to the lands which were not known to Akhtar M. Zaidi, FCA Prof. Zakaria Sajid (KU) them partially or utterly. Some of those Dr. A. Hadi Shahid, FCA Zahid Bukhari SVP HBL (retd) new ideas were indeed responsible to Muhammad Arif Ismat Sabir bring revolutionary change in native's Head office life of the conquered land but what it left on the face of it were divided 111-C, Jami Commercial Street 11, Phase VII, DHA Karachi groups of people with conflicting interTelephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com ests. No doubt, nation-state and its conEmail Address: editor@thefinancialdaily.com comitant bureaucratic structure, ambitious political theories, human rights Lahore office and new economic opportunities came 24- Peshawar Block, Fortress Stadium, Lahore as an excellent package to the new born Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com nations but what they completely lost was their self confidence, identity, cultural values and most importantly potential as a nation to groom honest and dedicated leadership. The recent uprising of common man in Arab world is indeed a sign of people coming out of a dangerous intellectual crisis, which was forced upon them after the fall of British Empire Importantly it took nearly a century for them to do it. Beginning of the end of colonialism and fall of Ottoman Empire happened more or less simultaneously - it changed the world map. The fall of Ottoman Empire immediately after the 2nd world war dramati-
Drone strikes start again
According to some media reports the latest drone strike in South Waziristan has killed at least six people and left several others wounded. A US drone fired four missiles in Kashaz Penga area of Azam Warsak in South Waziristan. This was the first drone strike since January 23 this year. The drone attacks were suspended following the arrest of Raymond Davis, accused of killing two Pakistanis on January 27, marking the longest pause in the programme since vast areas of Pakistan were affected by floods last year. There have been speculations that the CIA was holding fire because a US security contractor accused of fatally shooting two Pakistani men was held last month. CIA drone attacks in Pakistan had killed at least 581 militants in year 2010. The number of those militants noteworthy enough to appear on the US list of mostwanted terrorists was two only. Even former CIA officials who describe the drone programme as essential have noted how infrequently they could recognized the names of those killed during the barrage of strikes in the past year. Data from government and independent sources indicates that the number of high-ranking militants being killed as a result has either slipped or barely increased. After a year in which the CIA carried out a record 118 drone strikes, costing more than one million dollar apiece, the results have raised questions about the purpose and parameters of the campaign. Pakistan has asked the Americans to find better targets, do it more sparingly and be a little less gung-ho. According to experts a program that essentially began with intermittent lethal attacks on alQaeda leaders has evolved into a campaign that seems primarily focused on lower-level fighters. The data on the strikes indicates that 94 per cent of those killed were lower-level militants. It was noted that 12 militant leaders were killed by drone strikes in 2010, compared with 10 in 2008. As against this the number of strikes soared to 118 from 33 during this period. It is on record that success of drone attacks depends on the ground support. Some how the other US is notorious for using its airstrikes be it Vietnam, Iraq and Afghanistan. This may cause heavy losses but killing the terrorists remains a little doubtful, mainly because these people change their positions very quickly. Raymond was accused of carrying sensitive information as well as chips that are used in drone attacks. One can be sure that Raymond David could not do this alone and must have dozens or hundreds of accomplices. That is one of the reasons the US administration is trying to get him free at the earliest. However, Pakistan should be interested in getting as much details as possible because such operators are a potential threat to sovereignty of Pakistan.
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.
cally shifted anarchy from Europe to the Muslim world, mainly due to selfish individualism of western and American society pouring and settling in Muslims selfless collectiveness - It took more than two generations to entirely wipe out the ill effects and now the political dynamics of the Muslim world is changing spectacularly and swiftly. The question arises why it took so long? It is yet another point to understand that end of British colonialism was the beginning of American's neo colonialism in the garb of imperialism. This covert form of colonialism acted as a breather for westerners especially Europeans, which took its effect by controlling the political theater of the world through trained, tamed and corrupt leadership. From the Islamic Republic of Iran to secular republics in the Arab world or Indonesia, from monarchies in the Arab world, Malaysia, Nigeria (where monarchies rule over provinces), and Brunei, to democracies in Turkey, Pakistan, Bangladesh, and Malaysia, Muslim states include great diversity in politics and the workings of governments. One thing which is a purely common in these states is Islam, not only as a faith but also as a source of identity and an important factor in social relations and politics. The next thing which is more common amongst
them is an impurity in the form of democratic dictators or dictatorial democrats with following important character traits. n Chosen and placed by neo colonial powers by hook or by crook n Most of them dishonest and corrupt n Extremely lacking in self confidence for decision making and n Rule and works for vested interest It is by and large believed in most of the world that political upheaval in Arab world is a well designed act by Americans and is a continuation of pick and chose theory adopted by Americans since long. Even before the fall of communism, this theory has indeed worked miracles for them - at least in our part of the world. In case of Pakistan, from hanging of Bhutto to crash of Zia and removal of Musharraf, things really moved in right direction for them. The main reason for this unprecedented success is deplorable economic condition of the people of Pakistan which paved their way for this deadly power game for changing leadership. A country where bare minimum essentials of life like 'Roti, Kapra aur Makaan' can become a wining agenda for a political victory. This environment has also played a pivotal role in depleting the potentials of Pakistan for grooming leadership of their own - who
can speak their language and work for their interest - situation in Arab world is little different from here at least in terms of individual and State economy. That is the main reason why most of the people in Muslim world think that turbulent political environment of the Arab world cannot be a case of collective change in Arabs forced or instigated by Americans - obviously all the Arab dictators have not lost their utility and faith for Americans. As a matter of fact, absence of quality leadership remains imminent in Arabs as well, despite of their booming economics there is no alternative in shape of credible leadership available to do the damage control especially with reference to volatile situation in Egypt and Libya. So all said and done American interests in the region will be taken care of by filling up this vacuum by different viable options prompted and supported by westerners - but on the other hand this quagmire can be a great source of inspiration for a poor but fortunately a democratic country like Pakistan, where vibrant media can trigger the public opinion by realizing them of all pros and cons in case of absence of quality leadership. The media can also do the all important job of awaking masses and can act as a credible institution for political awareness through social means.
Rule of Law, Forte of a Nation ABID LATIF SINDHU
P
rinciples, rules and laws these are the progressive benchmarks which humans traversed through their journey of discovery spanning the cycles of centuries. Muslims social scientists were the pioneers in giving the concepts of equality, justice, social responsibility, basic rights and an upfront display of rule of law. Rulers or Muslim caliphs were many a time treated as common citizen in day to day litigation. The Jewish elders of Jerusalem surrendered the keys of city whence they saw one of the greatest conqueror of their times holding the reigns of camel and the slave riding the same. Yes, it was Hazrat Umer (RA) the second caliph: an amazing and enviable display of rule of law. West learnt a lesson from such incidents and had drawn two principles: one the love for knowledge and discovery;
other is the supremacy of law. The famous statement of Winston Churchill, that till the courts of England are dispensing justice, no one can conquer an inch of its territory. Pakistanis as a nation are well aware of the forte of law. The father of the nation, Quaid-i-Azam Muhammad Ali Jinnah revolved the complete struggle of independence around supremacy of rule of law, which he defended in every forum and displayed through personal examples of character loftiness. Pakistan today is passing through hard times; it is not something unusual rather it is very natural. The real problem is the inability of a nation in handling the hard times, because then the same multiplies up to a level where it is gyrated into sheer chaos. Have we become a chaotic society or are we heading towards a collective neurosis? Wakeup calls are taken as mere whimpers of
stray cats of the streets. This is really disturbing. Why is it happening, who is responsible, and how this attitude can be rectified, these million-dollar questions have one answer that is to promulgate Rule of Law. In our Pakistani society an inbuilt dichotomy exists. This can also be called as the hypocrisy by default. This default is the desire to survive in such terse environments. The remedy is not a potion or an incantation from some magician of traditional orient. It is also not a moralist debate in defining all these shortcomings of the Pakistani society; it is simply a question of you, me and us. People in Pakistan are power and entertainment hungry. Any society where rule of law is weak the power hungry is a natural outcome; the entertainment starvation is the indicator that people have different standards for public and private demeanors. All the pillars of
state require an overhaul of their inner mechanism and organisms, to start with it is the duty of every citizen to caste vote, majority of literate Pakistanis do not caste vote and then curse elected representatives for not delivering, who is then the first defaulter of rule of law, so what someone can expect from a voting absconder. Secondly it is the political parties which deviate from internal concepts of democratic judiciousness; political parties are either being run as family ranches or heredity fiefs. Thirdly the riders of third wave are acting as if they are law by themselves; this third wave of media is to be actually the leader of a positive change rather than becoming the game changers. Fourthly the ever increasing poverty ratio of the Pakistani population is another hurdle in establishing the rule of law. It is always initially the popula-
tion which supports the administration of law; later after maturity, law starts supporting the people. Poverty is therefore a menace which has to be addressed even before taking a single step in this direction. Rule of law is not an Anglo Saxon concept it is very much Islamic, so not a naĂŻve idea. Pakistani society is today more threatened from these dangers than terrorism, which is apparently more palpable. The great service to this nation in these hard times is not only to provide a security regimen; it is the resuscitation of will of the nation to grab every opportunity in establishing rule of law at grassroots level. The concept of power and power sharing is to be redefined in terms of a new social contract but the apolitical one. The Pakistani nation is known for its resilience. It is the forte of its people, but it is equality and justice which will convert this forte into the fiat.
Imam, Davis & Drones
T
he video released on internet is horrible. The way Col Imam was killed by Hakimullah Mehsud's assassin, after the TTP chief stage-managed recording of a videotaped message for Pakistan's security forces and ISI, it carries a declaration of war, a direct threat and an open warning to the Government of Pakistan - face the music. The retired veteran Colonel Imam stood rock solid like a soldier before Hakimullah Mehsud, the gunmen and another 'TTP' leader, whose face was not deliberately shown - that speaks volumes of the hidden hands behind this
and other horrific acts. He faced first two bullets with courage but fell down when the third bullet hit his head. He didn't beg for mercy from the brutal barbarian and recited 'Kalima' and 'Allah o Akbar' and embraced 'shahadat' at an age when he was not supposed to fight. He, according to media reports, had gone there, along with the already slain Khalid Khawaja and a renowned journalist, for patch-up, to bridge differences and earn a negotiated settlement but the perpetrators made them hostage, killed Khwaja and now Col Imam. The Shaheed Colonel could have lived a peaceful at
his home after retirement, but he chose to continue his part of role for peace. His Shahadat has kindled many hearts to live bravely and die the death of a brave Pakistani. His death and the drone attack after a long pause have occurred at a time when all hopes of Raymond Davis' release seemed exhausting. The message is clear. This has exposed the real face of 'Shariah-mongering' Taliban and above all Hakimullah Mehsud. The question as to whose agent he is has been answered. But the message of Col Imam to the enemy forces is also clear and carries great inspiration
Hazardous ‘Sheesha’ Culture Growing According to some experts more than 100 million people worldwide smoke water pipes daily for hours in Asia, Europe and Africa. The water pipes or 'sheesha' is a very common drug which is now spreading like fire in Pakistan. The reason behind this increase is the misperception about sheesha smoking that it is not haphazard to the health, since the tobacco is filtered through water before inhalation so it become harmless as they get less content of tobacco as compared to cigarette, and addition of different flavors made it risk-free for health. But medical sources say it's a sweet poison which causes throat problems and severe stomach diseases including ulcers and stomach cancer in case of its continuous usage. Hence its drawbacks are more swear than cigarettes.
A recent survey estimated that approximately more than 70% of the Pakistani youngsters have experienced this form of tobacco including boys and girls. Youngsters are using it as fun, for pass time with friends and puffing just because it has become a latest style and culture. An obvious reason of its rising is that most of the youngster are unaware of the fact that it is an addicted drug which contains tobacco and has more swear effects as compared to cigarettes. But the most obvious reason behind the popularity of sheesha is its social acceptability; now entire family seems to use it as fun. Parents who prohibit their children from cigarettes, themselves enjoy sheesha with them. This is a symbol of amortization of Pakistani culture heritage. It has become a trend in Pakistan and
seems easily available at every restaurant, hotels, public places and now it has even reached in educational institutions. Many bars have been reported to serve Sheesha mixed with illegal drugs like heroine, hashish etcetera. Also at many spots Sheesha is also available with wine in the filtering base instead of water. All these realities demand the immediate attention of government and policymakers but also healthcare providers to create more awareness against the lethal health hazard associated with sheesha smoking. Its availability and supply should be condemned especially on common hotels and public places which are openly promoting it and are prominent in promoting this dangerous culture. Maimuna Ashraf, Rawalpindi
for our soldiers and the nation, which has sacrificed thousands of lives for the Motherland and continue to offer sacrifices against the onslaught of the enemy. With this we the people of Pakistan should wake up to the call of the time, get united, join hands together, shun differences, focus our energies to one cause of defending and saving every inch of Pakistan, to fight out the enemy and those working and conspiring against the security of the country. Col Imam was the soldier of Pakistan. He must be honored. Sher Khan, Mardan
Rahat in hot water The news reports that Rahat Fateh Ali Khan has been be fined Rs1.5 million is really shocking. The best male singer award winner for India, is completely in troubled waters and needs a slice of solace and diplomatic help. He was unaware of currency handling rules and regulations of India. Moreover, the huge amount was handed over to him on airport by his Indian manager, may be a in a bid to implicate the singer in the fiasco. The person who handed over huge money should also be rounded up as to why he breached the country's Law. Similarly, those who are doing any sort of business should be thoroughly briefed on arrival at Indian airport about the Law of land regarding maximum limit of carrying foreign currency. IFTIKHAR SHAHEEN MIRZA, ISLAMABAD
5
Tuesday, February 22, 2011
South East Asian stocks
Mostly retreat, Malaysia outperforms
Seoul shares fall 0.4pc on steelmakers, banks KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,041.15 11,964.68 76.47 0.64 50.83
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,603.31 3,576.00 27.31 0.76 4.33
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,923.19 2,904.69 18.50 0.63 0.02
Major Gainers
Symbol
Close
Change
ULEVER 4,913.03 UPFL 1,323.66 DAWH 226.04 APL 371.01 AABS 97.60
233.95 14.78 10.76 6.39 4.55
Major Losers
Symbol
Close
Change
NESTLE 3,502.80 COLG 863.01 BATA 620.73 SIEM 1,000.09 RMPL 2,520.59
-93.2 -33.1168 -32.67 -19.4 -19.16
Top 5 Volume Leaders
Symbol LOTPTA PTC DOL FFBL FFC
Close Vol (mn) 15.74 19.00 7.05 41.04 153.92
6.67 5.83 2.20 2.08 2.04
Active Issues Plus Minus Unchanged
101 169 88
Sector Updates FERTILISER 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)
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)
Nawaz Ali KARACHI: Karachi Stock Exchange (KSE) bearishly opened the new week ending down under the psychological barrier of 12,000 points on Monday. Investors opted to offload their holdings as tension on the international and local political fronts have not shown any signs of slack. The benchmark KSE 100Index dropped 76 points to close at 11,964 points, KSE 30-Index fell by 88 points to close at 11,527 points and KSE All Share Index lost 50 points to close at 8,306 points. "Lingering Raymond Davis issue and the deadline on PML-N's 10-point agenda knocking on the government door plunged investors morale to the rockbottom. Furthermore, deteriorating situation in the Middle East spurred fear of foreign selling", said Ahmed Rauf, analyst at JS Global Capital.
Trading activities started with a gain of 6 points after which some mixed activities did observed during around first half of the session with index moving on both sides and at a moment touched its highest level of the day of 12,106 points (+ve 64). Thereafter renewed selling pressure particularly by the local investors kept the index in the bearish territory till the closing bell. Therefore the index breached the psychological barrier of 12,000 points and at about 3:25 PST touched an intraday low at 11,944 points (-ve 96) and finally called it a day thereabout. The deadline on the 10point agenda given to the government by the leading opposition party PML-N for the betterment of overall economic and political situation in the country would end on Feb 23. As PML-N is not satisfied with the governments' progress on the said agenda therefore investors are wor-
Bargain hunters help
000 tonnes
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)
Another under 12k close for KSE
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
Nikkei edges up for the 6th day TOKYO: Japan's benchmark Nikkei average ended marginally higher on Monday to extend its gains into a sixth day, with bargain hunters helping to erase early losses although investors were reluctant to buy shares actively ahead of a US public holiday and amid turmoil in the Middle East. The Nikkei is hovering near a 9-1/2- month peak and has been struggling to move decisively higher after gaining more than 6 per cent this year. It is the best-performing Asian market so far in 2011, while Asian stocks outside Japan are down 1.4 per cent for the year to date, largely due to inflation worries. "The Nikkei got some support in the afternoon as investors bought on dips and after seeing that Chinese markets took in stride the latest move to tighten policy in the form of banks' required reserves," said Kazuhiro Takahashi, general manager at Daiwa Securities Capital Markets. Energy and resources shares led gains, with Japan's biggest
oil and gas developer Inpex Corp adding 1.7 per cent to 597,000 yen as turmoil in the Middle East sent the price of April Brent crude and US crude futures more than $1 a barrel higher on Monday. It has gained over 25 per cent since the beginning of 2011. The benchmark Nikkei ended up 0.1 per cent or 14.73 points at 10,857.53. The broader Topix index was 0.1 per cent higher at 974.63. The Nikkei stayed in negative territory in the morning and market players such as Hiroyuki Fukunaga, chief executive of trading information provider Investrust, said it was nearing the next resistance level of 11,000 so it was natural for profit-taking to emerge. Despite a US holiday keeping Wall Street closed on Monday, trading volume was firm in Tokyo with around 2.1 billion issues changing hands on the Tokyo Stock Exchange's main board, exceeding two billion shares for an 11th day. Average daily volume for last week was 2.26 billion.-Reuters
ANNOUNCEMENTS Company Period United Bank Ltd. Yearly Bata (Pak) Ltd. Yearly Askari Bank Yearly Ittehad Chemicals Half Yearly Dost Steels Ltd. Half Yearly Descon Oxychem Half Yearly Invest & Fin.Sec. Half Yearly Nagina Cotton Ltd. Half Yearly United Bank Ltd. Half Yearly Thal Ltd Half Yearly Ellcot Spinning Half Yearly Prosperity Weaving Half Yearly Shield Corporation Half Yearly Ittehad Chemicals (Consolidated)Half Yearly Quality Textile Half Yearly Fazal Textile Mills Half Yearly Prud Mod.1st Half Yearly D.M.Textile Half Yearly Bawany Air Products Half Yearly H.B.L.Modaraba Half Yearly Gatron Industries Half Yearly Bolan Casting Ltd Half Yearly Dewan Textile Half Yearly Dewan Khalid Half Yearly Dewan Mushtaq Half Yearly Dewan Farooque Sp. Half Yearly PICIC Ins.Ltd. Yearly Mybank Yearly Golden Arrow Half Yearly Pak Services Half Yearly AKD Capital Limited Half Yearly F.Credit & Inv Half Yearly
Div/Bon/Right 40%(F)(D) 280%(D) 10%(B) 5%(i)(D) -
PAT (Rs in mn) 11159.93 871.29 943.18 82.82 -7.36 38.47 37.08 84.44 11020.93 618.79 242.34 117.56 15.17 84.24 49.51 331.87 22.89 -14.03 3.64 40.51 299.09 51.92 23.21 25.72 49.17 22.67 5.03 -1043.41 166.11 251.35 -2.15 -45.96
EPS(Rs) 9.12 115.25 1.48 2.30 -0.11 0.38 0.62 4.52 9.01 10.08 22.13 6.36 3.89 2.27 3.10 53.64 0.26 -4.60 0.53 1.02 7.80 4.98 1.72 4.53 14.32 0.38 0.14 -1.97 1.09 7.73 -0.86 -0.71
ried over the future stance of the party. Secondly, the increasing estrangement between US and Pakistan over the release of Raymond Davis and political disorder in Middle East too dampened sentiments. Foreign investors, however, were mainly on the buying side as according to NCCPL data they net-purchased stocks worth $1.42 million on Monday. Investor participation remained depressed throughout the day as just 50.8 million shares traded during the day --19.5 million shares less than a turnover of 70.3 million shares on Friday. Lotte Pakistan stood as the volume leader with 6.67 million shares followed by Pakistan Telecommunication with 5.83 million shares and Descon Oxychem with 2.2 million shares. Out of total 358 active issues; 169 declined and 101 advanced while 88 issues remained unchanged.
Libya woes, ECB words go hard on Europe mkts LONDON: European shares fell sharply on Monday after unrest in Libya fuelled concern over energy supplies and sapped investor risk appetite, with Italian stocks among the hardest hit. A rise in the level of violence between protestors and the government of autocratic Libyan leader Muammar Gaddafi over the weekend prompted a broad-based share pullback across the region, although volumes were light due to a US holiday. Fresh warnings on inflation from various European Central Bank policymakers added to the bearish tone, after euro zone private sector activity and German sentiment data pointed to a robust recovery but with pricing pressures. The FTSEurofirst 300 index of leading European shares ended down 1.3 per cent at 1,171.11 points, after closing Friday down 0.01 per cent, but remains up 4.4 per cent on the year. Traded volumes were 88 per cent of the 30-day average. The "elevated optimism that has built up over the last few weeks" had finally pulled back on the "trigger" of rising tensions in Libya and elsewhere in the Middle East, as well as the hawkish ECB comments, Tammo Greetfeld, UniCredit strategist, said. -Reuters
NCCPL to detail MTS at KSE today Staff Reporter KARACHI: National Clearing Company of Pakistan (NCCPL) has arranged a detailed presentation on the salient features and modus operandi of Margin Trading System (MTS) for all NonBroker Clearing Members today (Tuesday), February 22, 2011 at KSE Auditorium at 4:00 pm. The presentation detailing heart and soul of the MTS has also been placed on the NCCPL website (www.nccpl.com.pk) for information and understanding of the product. Furthermore, NCCPL will also undertake Mock Sessions for MTS, in coordination with the Karachi Stock Exchange from Feb 22-26 i.e. Tuesday to Saturday in different time slots.
Indian mkts gain 1.3pc; techs rally MUMBAI: The BSE Sensex climbed 1.3 per cent on Monday, led by outsourcers, on views the correction this year may have been overdone with most negatives already priced in. Investors cheered broker upgrades of third-largest outsourcer Wipro, sending its shares up 4.1 per cent. JP Morgan upgraded the stock to 'overweight' from 'neutral' while Credit Suisse raised it to 'outperform' from 'neutral' saying concerns of below-peer revenue growth has been factored in the price, making it a good buy. CLSA upgraded the stock to 'outperform' from 'underperform' stating while Wipro's revenue growth will trail peers it will beat street estimates. Favourable industry outlook also saw larger rivals Infosys Technologies and Tata
Consultancy Services gain 2.1 per cent and 4.2 per cent. The 30-share BSE index gained 1.25 per cent or 226.79 points to 18,438.31, with twothird of its components advancing. "I think the negatives surrounding the market are all already in the price. And, we are not seeing the sharp selloff anymore in the market," said Om Ahuja, head of private wealth management at Emkay Global. "That said, we have not seen significant buying as yet. One can look at building positions with short-term and mediumterm objective." The main index is still down more than 10 per cent this year, with foreign funds pulling out $1.6 billion in the period, and instead opting for developed economies. See # 12 Page 11
China at 3-mth high; fund outflow hits HK SHANGHAI/HONG KONG: Shanghai closed up 1.1 percent on Monday at a three-month high, supported by oil firms after China raised fuel prices to fresh highs, offsetting the impact of a rise in bank reserve requirement ratios (RRR). The benchmark Shanghai Composite Index ended at 2,932.3 points, staying above the important 2,900 level where it hovered for the large part of last week, after a 2.6 percent rally during the week on the back of ample liquidity. Analysts said the market had largely priced in the news of the RRR hike last Friday, when the index fell 0.9 percent on worries over further monetary tightening. On Friday, the People's Bank of China announced a 50-basis-point increase in required reserve ratios to a record 19.5 percent. The
move will freeze 360 billion yuan ($55 billion) when it takes effect on Thursday and adds to increasingly aggressive government efforts to stamp out stubbornly high inflation.. "The policy (RRR hike) is within market expectations, so it has little impact on the whole market," said Zhang Yanbin, an analyst at Zheshang Securities in Shanghai. "The index's uptrend is unlikely to change. It may hit 3,000 points in the coming weeks." Cheng Yi, analyst at Xiangcai Securities in Shanghai, said selective shares supported by government policies may lift the index around the time of China's annual parliament session starting in early March, but gains could be tempered due to the overall tightening monetary policy environment.
Almost all 16 banks listed on the Shanghai and Shenzhen markets weakened, while Industrial and Commercial Bank of China (ICBC), one of the world's biggest banks by market value, fell 0.7 percent and China CITIC Bank was down 0.7 percent. Shanghai-listed China Everbright Bank dropped 0.3 percent after it said it planned to issue Hongkong listed H-shares this year. Hong Kong stocks closed down 0.47 percent on Monday as funds pulled out of emerging Asian equities, with Warren Buffett-backed carmaker BYD at a 1-1/2year low after slashing vehicle prices. The benchmark Hang Seng Index was down 109.82 points at 23,485.42. The China Enterprises Index of top locally listed mainland companies declined 91.15 points to 12,651.38.-Reuters
Dhiyan
COLD & CALCULATED Salman Naqvi, Head of Sales Aba Ali Habib Securities Current activities will hold the status quo till the resolution of issues between Pakistan and United States over the release of Raymond Davis and the deadline given by Nawaz Sharif which is ending on Feb 23. Therefore index could come down to 11,800 points levels in the coming days. Investors are advised to stay on the sidelines. Amicable resolution of abovementioned issues and successful launch of Margin Trading System (MTS) would give market substantial impetus. Market would remain cold today.
Muzammil Khan, AVP BMA Capital Following the current situation on the political front, activity in the market would remain on the downside with index moving in a tight range. Investors therefore should adopt 'wait & see' stance till the political situation settles down, however they can take positions in those companies which have announced good payouts like in fertiliser and power sectors. Pressure would be the order of today.
6
Tuesday, February 22, 2011
Market Volume
50,827,113
Value
1,963,149,004
Trades
35,418
Paid up Cap(mn)
Advanced Decline Unchanged Total
Current High Low Change
101 169 88 358
All Share Index
11964.68 12106.96 11944.82 i76.47
Current High Low Change
High Low 1,518.46 1,495.17 Total cos Defaulter cos P/BV (x) ROE (%) 3.56 32.54 Low
Attock PetroleumSPOT 691 6.70 Attock Refinery 853 4.67 BYCO Petroleum 3921 Mari Gas Company 735 16.32 National Refinery 800 5.60 Oil & Gas Development 43009 11.16 Pak Petroleum 11950 7.32 Pak Oilfields XD 2365 7.07 Pak Refinery Limited 350 P.S.O 1715 4.61 Shell Pakistan 685 10.54
364.62 114.95 9.44 121.39 270.08 165.99 201.56 306.43 98.69 273.55 206.90
374.60 116.00 9.60 121.98 272.90 166.90 202.80 309.99 101.90 274.90 207.00
365.25 114.40 9.30 120.27 269.00 164.00 200.00 306.16 97.01 272.00 205.10
Close Chg 371.01 114.54 9.33 120.46 270.08 164.89 200.10 306.82 97.22 272.33 205.51
6.39 -0.41 -0.11 -0.93 0.00 -1.10 -1.46 0.39 -1.47 -1.22 -1.39
Close Change 1,500.44 -7.08 Listed cap Market cap 65,194.15 mn 1,155,239.56 mn Payout (%) Div Yield (%) 55.94 5.11 Last 60 days High Low
Volume 207851 199060 256751 8012 38418 337924 539315 267707 116714 141029 8813
401.00 146.90 12.49 141.65 335.00 185.00 229.80 341.50 122.22 317.79 222.00
315.80 112.02 9.25 117.00 251.99 161.27 200.00 264.00 81.13 268.00 194.00
% Change -0.47 5-Day High 1,524.60 5-Day Low 1,500.44
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 -
-
Open 719.11 Turnover 4,086 P/E (x) 5.45 Company
Performance of SR Chemicals Index Open 1,617.33 Turnover 16,164,080 P/E (x) 9.91
High Low 1,637.19 1,610.08 Total cos Defaulter cos P/BV (x) ROE (%) 3.47 35.00
PE
Open
High
Low
Bawany Air 75 6.69 BOC (Pak) 250 12.76 Clariant Pak 273 7.28 Dawood Hercules 1203 12.66 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Engro Corporation Ltd 3277 11.94 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji FertilizerSPOT 6785 9.47 Fauji Fert.Bin Qasim 9341 7.74 Ghani Gases Ltd 725 9.51 ICI Pakistan 1388 8.56 Ittehad Chemical 360 5.29 Lotte Pakistan 15142 5.79 Mandviwala 74 Nimir Ind Chemical 1106 Pak Gum 42 Shaffi Chemical 120 Sitara Chem Ind 214 8.92 Sitara Peroxide 551 15.05 Wah-Noble 90 7.28
7.57 91.55 201.94 215.28 3.19 7.68 2.75 219.33 13.07 11.80 153.29 41.07 12.64 148.15 24.83 15.99 1.14 2.60 18.64 2.24 103.97 13.48 37.74
8.45 93.50 206.79 226.04 3.30 8.09 2.86 221.00 13.20 11.90 154.49 41.50 12.95 150.29 26.00 16.25 1.15 2.64 18.00 2.06 107.70 14.39 38.85
6.90 90.00 202.00 226.04 2.90 6.95 2.72 216.56 12.76 11.61 152.50 40.92 12.41 148.25 23.59 15.68 1.08 2.47 17.68 2.05 102.30 13.40 37.70
Close Chg 7.09 92.89 203.38 226.04 3.00 7.05 2.76 217.24 12.81 11.66 153.92 41.04 12.55 149.73 24.00 15.74 1.15 2.50 17.68 2.05 105.76 13.85 37.85
-0.48 1.34 1.44 10.76 -0.19 -0.63 0.01 -2.09 -0.26 -0.14 0.63 -0.03 -0.09 1.58 -0.83 -0.25 0.01 -0.10 -0.96 -0.19 1.79 0.37 0.11
Last 60 days High Low
Volume 1704 5960 60660 1240 81736 2203508 473567 1065862 280610 357753 2035603 2077019 148953 292163 3112 6670395 3006 409040 1560 9786 14808 403156 2350
Change 2.93 Market cap 354,900.34 mn Div Yield (%) 4.93
10.50 103.94 213.30 226.04 3.74 9.25 4.24 222.80 15.87 12.64 157.90 43.99 13.07 158.49 36.00 16.80 2.45 3.17 28.20 3.10 139.40 14.54 41.99
6.90 80.45 152.50 165.73 2.37 6.90 1.52 180.90 12.51 9.16 110.12 33.80 11.00 134.01 23.07 11.78 1.01 1.45 17.01 2.02 101.00 12.70 32.22
% Change 0.18 5-Day High 1,620.26 5-Day Low 1,578.98
2010 Div BR (%) (%) 5 10R 15 135 25B 50 300B 60 20B 130 25B 52.5 175 5 5 25 5B 50 -
2011 Div BR (%) (%) 5 -
-
Performance of SR Forestry & Paper Index Open 1,037.64 Turnover 40,026 P/E (x) 5.30
High Low 1,041.07 1,023.61 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 7.47
Close 1,029.44 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
9.43 6.55
15.85 41.34 37.46
16.00 42.50 37.30
15.80 40.50 36.70
16.00 0.15 40.92 -0.42 36.70 -0.76
17399 2202 20425
Change -8.20 Market cap 2,853.49 mn Div Yield (%) 4.77
Last 60 days High Low 19.69 48.90 47.70
14.95 39.62 36.70
% Change -0.79 5-Day High 1,055.94 5-Day Low 1,029.44
2010 Div BR (%) (%) 2533.33B 50 -
2011 Div BR (%) (%) -
Company Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind XD Siddiqsons Tin
PE
Open
High
Low
565 2.98 675 555 8.91 1199 18.26
28.39 2.37 14.10 49.17
29.69 2.43 14.30 51.52
28.40 2.26 14.10 50.00
785 10.24
9.00
9.43
9.01
Close Chg 28.50 2.30 14.25 50.21
0.11 -0.07 0.15 1.04
9.01 0.01
Close 1,023.56 Listed cap 3,596.11 mn Payout (%) 30.91
Change 12.32 Market cap 9,699.75 mn Div Yield (%) 9.06
High
Low
Close Chg
Volume
Last 60 days High Low
1092 1321
6.83 9.24
71.20 32.96
71.01 34.00
70.55 33.25
71.00 -0.20 33.25 0.29
1251 2835
76.65 39.45
Last 60 days High Low
Volume
2010 Div BR (%) (%)
17651 5508 9225 23177
31.00 3.29 16.51 62.20
24.01 2.25 13.81 46.50
30 55
602
10.70
8.51
7.5
2011 Div BR (%) (%)
- 10.00 20B -
-
Open 1,233.06 Turnover 144,290 P/E (x) 4.10 Paid up Cap(mn)
Atlas Battery Atlas Honda Dewan Motors General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
PE
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Dadabhoy Cement Dadex Eternit Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Flying Cement Ltd Frontier Ceramics Gammon Pak Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Thatta Cement
PE
Open
High
Low
1828 866 6.49 858 182 982 13.23 108 3891 3651 10.50 350 2.81 6933 6.22 1760 77 283 4003 32 1288 13126 3234 6.05 5261 1.13 541 3.13 2228 798 438.00
2.80 51.27 2.30 18.03 1.73 19.96 1.89 24.42 2.36 4.51 1.68 2.01 1.14 7.12 0.64 6.01 3.06 67.62 2.54 4.31 6.30 18.10
2.80 51.39 3.00 18.60 1.99 19.01 1.98 24.60 2.75 4.82 1.75 2.05 1.30 7.19 0.60 6.20 3.05 67.70 2.55 4.26 6.35 17.90
2.70 50.20 2.40 17.50 1.70 18.98 1.80 23.97 2.40 4.45 1.65 1.76 1.14 6.12 0.52 6.00 2.96 66.86 2.40 3.62 6.00 17.50
Change -6.76 Market cap 63,122.12 mn Div Yield (%) 3.28
Close Chg
Volume
Last 60 days High Low
2.72 51.26 3.00 17.59 1.72 19.96 1.81 24.25 2.36 4.48 1.65 2.00 1.24 6.88 0.52 6.02 3.00 67.37 2.44 4.26 6.00 17.52
3019 3011 15761 11225 3862 101 14505 1196585 433 115102 42694 6011 6049 26019 3035 70840 874319 73708 189818 1225 11054 520
3.98 65.45 4.24 24.16 2.49 25.75 3.10 32.30 4.00 5.55 2.25 3.40 3.65 9.19 0.99 7.45 3.88 78.44 3.30 8.74 8.15 20.20
-0.08 -0.01 0.70 -0.44 -0.01 0.00 -0.08 -0.17 0.00 -0.03 -0.03 -0.01 0.10 -0.24 -0.12 0.01 -0.06 -0.25 -0.10 -0.05 -0.30 -0.58
2.70 48.60 1.46 17.50 1.50 18.06 1.65 23.97 2.15 4.40 1.60 1.29 1.01 4.57 0.25 5.99 2.95 66.00 2.20 3.21 5.90 16.37
2010 Div BR (%) (%)
Company Adam Sugar XD AL-Abbas Sugar XD Colony Sugar Mills Crescent Sugar Dewan Sugar Fecto Sugar Habib Sugar Habib-ADM Ltd J D W Sugar Mithchells Fruit XD National Foods Nestle Pakistan Noon Pakistan Noon Sugar Pangrio Sugar XD Quice Food S S Oil Tandlianwala UniLever Pakistan Unilever Foods Wazir Ali
Paid up Cap(mn) 58 174 990 214 365 146 750 200 539 50 414 453 48 165 109 107 57 1177 665 62 80
PE
- 100R 50 - 122R - 20R 40 - 50R
-
20R 92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 962.26 Turnover 92,531 P/E (x) 2.67 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
Paid up Cap(mn)
PE
Open
115 230
2.73 -
60.43 2.56
1067 4.82 52.74 389 4.00 47 16.74 30.34 844 - 126.68 300 7.73 125.10
High
Low
Close Chg
61.39 2.69
59.00 2.40
59.49 -0.94 2.68 0.12
52.97 52.04 52.39 4.19 4.00 4.03 31.48 29.00 30.14 125.51 120.60 121.25 128.00 125.00 127.44
Ados Pak
-0.35 0.03 -0.20 -5.43 2.34
Close 942.13 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change -20.13 Market cap 36,174.78 mn Div Yield (%) 5.82
Last 60 days High Low
% Change -2.09 5-Day High 979.97 5-Day Low 942.13
2010 Div BR (%) (%)
2011 Div BR (%) (%)
27002 5504
83.23 3.30
57.39 1.82
20 -
25B -
-
50R -
2500 19104 3647 10392 24339
56.45 4.19 33.80 143.00 144.50
45.30 2.43 17.10 103.52 106.50
25 32.5 100
10B -
-
-
Low
Close Chg
192.88 188.00 189.52 -3.38 141.50 136.60 138.41 -0.15 1.96 1.86 1.87 -0.03 22.50 22.20 22.20 0.50 4.90 4.51 4.60 0.11 4.50 4.10 4.25 0.05 11.30 10.50 10.69 -0.06 276.01 262.58 263.53 -12.87 64.50 63.00 63.94 -0.15 23.52 22.70 22.92 -0.72
Close 1,202.64 Listed cap 6,768.53 mn Payout (%) 20.42
Volume 3832 2426 4703 3510 53049 51102 11389 7557 2705 4010
Last 60 days High Low 205.00 143.80 2.89 26.74 5.36 5.49 12.87 309.73 75.98 24.00
156.85 101.85 1.40 21.00 4.26 4.01 10.50 248.00 61.60 18.80
Open
High
High Low 1,978.27 1,938.55 Total cos Defaulter cos P/BV (x) ROE (%) 14.82 30.30 Low
Close Chg
Close 1,943.83 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 400 2000 502 2800 20642 1000 19381 1448 14002 200 768 197 446 2646 690 1500 1500 10066 857 137 902
Last 60 days High Low 20.50 14.10 102.89 88.41 5.70 2.40 7.15 5.00 5.59 1.74 55.00 28.00 36.50 21.35 12.95 11.50 92.50 68.00 89.90 66.13 75.50 41.52 3695.00 1965.00 27.30 21.88 14.45 9.00 6.99 3.10 4.00 2.05 3.70 2.50 44.06 31.50 4913.03 3916.04 1398.09 1005.00 8.95 6.60
Paid up Cap(mn) 66
PE 1.01
Open 15.71
High 16.20
Low 16.20
Close Chg
Volume
Last 60 days High Low
Open 1,050.36 Turnover 33,406 P/E (x) 2.03 Company
High Low 1,059.72 1,049.76 Total cos Defaulter cos P/BV (x) ROE (%) 0.22 10.64
Close 1,043.37 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
1219 231
3.34 2.16
13.40 18.21
13.40 18.52
13.26 18.00
13.27 -0.13 18.03 -0.18
23089 10315
Pak Elektron Tariq Glass Ind
2011 Div BR (%) (%)
15.71
0.00
200
18.20
14.10
-
-
-
-
224.89 221.00 221.51
1.13
688
244.95
207.50
400
-
-
-
0.98
4049
48.63
42.90
25
10B
-
-
1.09 -0.01
1001
2.40
0.21
-
-
-
AL-Ghazi Tractor
215
4.98 220.38
Bolan Casting
104
4.73
46.15
47.25
46.95
Dewan Auto Engineering 214
-
1.10
1.29
0.90
47.13
-
Ghandhara Ind
213
9.31
10.51
10.85
10.00
10.06 -0.45
16460
13.50
10.00
-
-
-
-
KSB Pumps
132
7.26
59.89
60.99
60.00
60.66
500
70.80
58.55
-
-
-
-
Millat Tractors XD
366
7.45 492.43
568.40
483.00
650
25B325.00
-
0.77
493.00 483.00 484.01 -8.42
21287
100 20 150 10
% Change -2.47 5-Day High 1,254.24 5-Day Low 1,202.64 2011 Div BR (%) (%)
20B 20B
-
-
2010 Div BR (%) (%)
% Change 1.42 5-Day High 1,943.83 5-Day Low 1,809.56 2011 Div BR (%) (%)
25 50 25 25B 40 7010B 12.5R 40 12 750 12 10 492 710 -
-
-
Change -6.99 Market cap 5,052.00 mn Div Yield (%) 3.08
RSI (14-day)
56.39
Total Assets (Rs in mn)
2,747.78
MA (10-day)
13.42
Total Equity (Rs in mn)
219.69
MA (100-day)
12.04
Revenue (Rs in mn)
727.02
MA (200-day)
10.86
Interest Expense
1st Support
13.41
Loss after Taxation
2nd Support
12.91
EPS 10 (Rs)
1st Resistance
14.40
Book value / share (Rs)
2nd Resistance
14.89
PE 11 E (x)
Pivot
13.90
PBV (x)
243.27 (179.15) (3.251) 3.99 15.05 3.47
SPL closed up 0.37 at 13.85. Volume was 34 per cent above average and Bollinger Bands were 51 per cent narrower than normal. The company's profit after taxation stood at Rs12.836 million which translates into an Earning Per Share of Rs0.23 for the 1st quarter of current fiscal year (1QFY11). SPL is currently 25.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SPL (mildly bullish). Trend forecasting oscillators are currently bullish on SPL.
WorldCall Telecom Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
40.96
Total Assets (Rs in mn)
17,566.02
MA (10-day)
2.60
Total Equity (Rs in mn)
11,379.05
MA (100-day)
2.69
Revenue (Rs in mn)
MA (200-day)
2.89
Interest Expense
1st Support
2.46
Loss after Taxation
2nd Support
2.43
EPS 09 (Rs)
(0.57)
1st Resistance
2.58
Book value / share (Rs)
13.22
2nd Resistance
2.67
PE 10 E (x)
5.73
Pivot
2.55
PBV (x)
0.19
8,408.28 523.03 (490.82)
WTL closed down -0.10 at 2.52. Volume was 32 per cent below average and Bollinger Bands were 41 per cent narrower than normal. The company's loss after taxation stood at Rs1.147 billion which translates into a Loss Per Share of Rs1.33 for the year ended CY10 WTL is currently 12.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of WTL (mildly bearish). Trend forecasting oscillators are currently bearish on WTL.
Silkbank Limited
Last 60 days High Low
2010 Div BR (%) (%)
15.88 24.00
17.5
13.00 15.90
10B -
% Change -0.67 5-Day High 1,059.56 5-Day Low 1,043.37 2011 Div BR (%) (%) - 200R
PERSONAL GOODS Performance of SR Personal Goods Index Open 1,004.16 Turnover 4,899,511 P/E (x) 6.70 Paid up Cap(mn)
(Colony) Thal Amtex Limited Artistic Denim Azgard Nine Bannu Woolen XD Bata (Pak) Brothers Textile Chakwal Spinning Chenab Limited Colgate Palm Crescent Textile D S Ind Ltd Dar-es-Salaam Data Textile Dawood Lawrencepur Dewan Khalid Textile Dewan Mushtaq Textile Ellcot Spinning Fazal Cloth Gadoon Textile XD Gul Ahmed Textile Gulshan Spinning Ibrahim Fibres Ideal Spinning Kohinoor Ind Kohinoor Textile Leather Up Masood Textile Moonlite (PAK) Mukhtar Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Ravi Textile Reliance Weaving Rupali Poly Saif Textile Salfi Textile Sargoda Spinning Service Ind Shahpur Textile Shahtaj Textile Shahzad Textile Suraj Cotton Taj Textile Tata Textile Thal Limited Treet Corp Tri-Star Poly Zephyr Textile Ltd Zil Limited
56 2594 840 4493 76 76 98 400 1150 316 492 600 80 99 514 57 34 110 188 234 635 222 3105 99 303 1455 60 600 22 145 187 1614 3516 560 250 308 341 264 33 312 120 140 97 180 180 334 173 307 418 215 594 53
High Low 1,018.43 994.32 Total cos Defaulter cos P/BV (x) ROE (%) 0.58 8.64
PE
Open
High
Low
Close Chg
8.30 5.72 0.50 5.39 0.35 27.45 3.10 54.11 0.23 0.15 0.48 1.18 0.80 4.38 0.97 3.93 0.76 3.63 2.63 1.88 1.61 2.21 5.53 4.44 0.71 5.21 0.47 0.32 0.63 7.19 0.38 0.36 0.84 0.39 5.81 8.54 3.42 5.55
1.00 3.73 20.62 10.68 14.10 653.40 0.35 0.80 2.60 896.13 16.93 1.62 2.40 0.28 43.98 2.10 4.08 21.00 59.90 73.20 29.01 8.26 49.27 9.95 1.42 5.07 1.23 18.79 17.25 0.30 15.25 26.26 62.84 13.20 1.13 10.21 40.43 6.00 72.99 3.59 210.79 0.26 20.10 7.00 37.65 0.25 40.77 116.02 53.72 0.51 2.60 83.80
1.40 3.84 20.60 10.78 14.10 686.07 0.68 0.90 2.85 895.00 17.00 1.74 3.35 0.54 46.17 1.50 4.75 22.05 62.89 74.00 30.45 8.00 49.95 10.90 1.58 5.20 2.22 18.79 16.50 0.49 16.25 27.00 63.90 13.50 1.24 10.54 41.65 6.00 76.43 4.39 220.00 0.39 21.10 7.00 38.74 0.14 42.60 118.95 54.50 0.87 2.60 87.90
1.15 3.61 20.60 10.41 14.10 620.73 0.50 0.80 2.65 851.33 15.93 1.51 2.01 0.54 45.99 1.50 4.10 21.00 62.85 72.90 30.40 7.80 48.00 8.95 1.11 4.51 2.20 17.79 16.50 0.13 14.50 25.85 61.95 12.99 1.02 9.99 40.50 5.85 70.01 3.10 205.05 0.17 20.94 6.11 37.00 0.14 40.00 114.51 53.50 0.87 2.60 82.90
1.37 0.37 3.65 -0.08 20.60 -0.02 10.45 -0.23 14.10 0.00 620.73-32.67 0.35 0.00 0.80 0.00 2.70 0.10 863.01-33.12 16.10 -0.83 1.53 -0.09 3.00 0.60 0.54 0.26 45.99 2.01 2.10 0.00 4.30 0.22 21.43 0.43 62.89 2.99 73.14 -0.06 30.45 1.44 8.00 -0.26 49.95 0.68 8.96 -0.99 1.42 0.00 5.08 0.01 2.21 0.98 17.79 -1.00 16.50 -0.75 0.40 0.10 14.54 -0.71 26.65 0.39 62.30 -0.54 13.15 -0.05 1.05 -0.08 10.21 0.00 41.48 1.05 5.85 -0.15 70.01 -2.98 3.23 -0.36 210.16 -0.63 0.27 0.01 21.09 0.99 6.11 -0.89 37.65 0.00 0.14 -0.11 40.07 -0.70 117.14 1.12 53.60 -0.12 0.87 0.36 2.60 0.00 82.91 -0.89
% Change -1.38 5-Day High 1,551.60 5-Day Low 1,500.24
2010 Div BR (%) (%)
-
HOUSEHOLD GOODS
Close 1,004.09 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -0.07 Market cap 134,840.92 mn Div Yield (%) 2.49
Last 60 days High Low
8999 1.50 116572 5.08 600 24.59 603047 12.84 1500 15.10 4262 705.00 101 1.49 1003 2.00 3080 3.76 217 1020.00 9109 23.99 31713 2.10 3501 4.38 2900 1.10 406 47.00 141 3.75 33801 8.90 709 23.08 1005 76.24 1403 77.40 6095 33.19 600 8.50 1025 55.00 2027 10.90 4696 2.00 8331 5.95 1100 2.79 1202 20.74 3501 17.50 10503 0.90 79163 17.10 1922940 28.04 1689491 71.89 69643 14.45 169049 1.98 209 11.39 1600 42.70 12000 6.85 2476 76.43 519 4.45 5990 276.50 14000 0.70 5650 21.10 3920 7.05 361 41.95 500 0.56 1801 42.93 12583 132.00 22117 63.30 2000 1.45 2000 4.65 17947 87.90
Open 895.15 Turnover 36,499 P/E (x) 6.58 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 100 96 306
PE
Open
8.45 95.40 7.00 90.39 12.97 73.00 7.45 26.86 7.22 8.90 7.93 33.99 6.59 153.00 5.54 61.01
High
High Low 906.61 886.69 Total cos Defaulter cos P/BV (x) ROE (%) 1.47 22.31 Low
Close Chg
97.00 95.00 96.47 1.07 94.90 91.50 92.66 2.27 73.00 71.60 72.13 -0.87 26.90 25.87 26.90 0.04 8.95 8.94 8.95 0.05 32.35 32.35 32.35 -1.64 155.37 155.30 153.00 0.00 62.70 60.41 61.66 0.65
Close 896.72 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 10767 3678 12775 5170 587 500 155 2867
Change 1.57 Market cap 29,896.67 mn Div Yield (%) 6.77
Last 60 days High Low 112.50 98.00 89.98 30.48 9.99 35.70 174.00 69.00
2010 Div BR (%) (%)
0.61 3.61 30 19.90 20 9.20 12.60 20 580.00 280 0.15 0.80 5 2.52 849.80 15.93 15 1.51 1.20 0.08 35.00 5 1.50 2.90 18.75 35 42.40 100SD 47.00 70 24.00 12.5 6.30 10 20B 37.01 20 3.00 0.75 4.50 1.00 17.10 15 100R 4.50 0.13 14.50 20SD 21.15 15 56.80 25 45R 6.36 0.65 8.50 25SD 35.00 40 3.90 48.00 25 1.51 5 205.05 0.17 16.35 45 5.00 5 33.00 50 0.08 30.00 25 98.56 80 20B 52.35 0.33 2.60 46.00 35 -
PHARMA AND BIO TECH Change -21.01 Market cap 31,285.60 mn Div Yield (%) 17.16
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
Performance of SR Household Goods Index
Performance of SR Pharma and Bio Tech Index
Close 1,500.24 Listed cap 1,336.62 mn Payout (%) 131.49
2010 Div BR (%) (%)
Change 27.20 Market cap 286,846.23 mn Div Yield (%) 0.63
INDUSTRIAL ENGINEERING High Low 1,525.34 1,496.35 Total cos Defaulter cos P/BV (x) ROE (%) 2.91 38.02
-
Change -30.42 Market cap 44,806.47 mn Div Yield (%) 4.99
Performance of SR Industrial Engineering Index Open 1,521.25 Turnover 44,210 P/E (x) 7.66 Company
High Low 971.31 936.00 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 43.91
High Low 1,240.08 1,196.09 Total cos Defaulter cos P/BV (x) ROE (%) 1.04 25.35
4.32 14.50 14.10 14.10 14.50 0.00 7.37 93.05 97.70 97.60 97.60 4.55 7.50 3.30 3.46 2.56 3.00 -0.30 0.63 6.15 6.25 6.15 6.24 0.09 3.45 3.48 3.17 3.26 -0.19 - 37.73 36.01 35.94 36.01 -1.72 8.74 22.03 22.10 21.91 22.02 -0.01 7.42 12.30 12.20 12.15 12.17 -0.13 1.26 70.54 72.99 70.10 71.02 0.48 8.50 72.41 74.00 74.00 72.41 0.00 21.79 58.08 59.13 58.20 58.39 0.31 38.62 3596.00 3695.00 3480.00 3502.80 -93.20 3.86 26.99 25.65 25.65 26.99 0.00 1.20 10.75 11.20 10.50 11.20 0.45 4.47 3.75 3.75 3.75 -0.72 7.61 3.16 3.40 3.35 3.35 0.19 0.24 2.75 2.80 2.80 2.80 0.05 14.64 42.00 43.00 41.00 41.00 -1.00 19.97 4679.08 4913.03 4913.00 4913.03 233.95 18.63 1308.88 1325.00 1250.01 1323.66 14.78 7.50 8.00 6.90 6.91 -0.59
-
2011 Div BR (%) (%)
High
Open 1,916.63 Turnover 81,242 P/E (x) 48.90
-
% Change -0.77 5-Day High 906.01 5-Day Low 870.75
2011 Div BR (%) (%)
FOOD PRODUCERS
Company
Close 870.75 Listed cap 54,792.74 mn Payout (%) 19.04
2010 Div BR (%) (%) 40 15
Sitara Peroxide Limited
Performance of SR Food Producers Index
Performance of SR Construction and Materials Index High Low 884.37 860.66 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 7.10
Open
101 5.66 192.90 626 9.61 138.56 890 1.90 598 19.14 21.70 450 3.19 4.49 200 6.64 4.20 1428 - 10.75 786 6.02 276.40 823 10.18 64.09 150 4.28 23.64
CONSTRUCTION AND MATERIALS Open 877.51 Turnover 2,669,068 P/E (x) 5.81
68.00 32.36
Alert ! Unusual Movements
% Change -0.05 5-Day High 740.24 5-Day Low 718.72
Performance of SR Automobile and Parts Index
-
% Change 1.22 5-Day High 1,023.56 5-Day Low 1,002.21
Change -0.38 Market cap 12,324.53 mn Div Yield (%) 2.03
Open
Performance of SR Industrial Metals and Mining Index High Low 1,054.96 1,018.11 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 33.10
Close 718.72 Listed cap 3,242.17 mn Payout (%) 11.08
PE
INDUSTRIAL METALS AND MINING Open 1,011.24 Turnover 56,170 P/E (x) 3.41
High Low 721.94 715.13 Total cos Defaulter cos P/BV (x) ROE (%) 1.39 25.53
AUTOMOBILE AND PARTS
Company
Close 1,620.26 Listed cap 52,251.88 mn Payout (%) 48.81
FORESTRY AND PAPER
Paid up Cap(mn)
19422.03 19537.23 19399.36 i23.82
Paid up Cap(mn)
Pak Int Cont.Terminal PNSC
CHEMICALS
Century Paper Pak Paper Product Security Paper
Current High Low Change
11527.84 11625.29 11510.86 i88.82
INDUSTRIAL TRANSPORTATION
High
Company
Current High Low Change
Performance of SR Industrial Transportation Index
Open
Company
8306.64 8400.22 8297.1 i50.21
KMI 30 Index
OIL AND GAS
PE
Paid up Cap(mn)
KSE 30 Index
Performance of SR Oil and Gas Index Open 1,507.52 Turnover 1,864,864 P/E (x) 10.94 Company
KSE 100 Index
Symbols
90.30 83.00 71.36 24.40 7.16 32.00 116.00 58.50
2010 Div BR (%) (%) 20 100 30
20B -
% Change -0.01 5-Day High 1,004.16 5-Day Low 990.45 2011 Div BR (%) (%) -
-
% Change 0.18 5-Day High 896.72 5-Day Low 883.46 2011 Div BR (%) (%) 15 -
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
44.08
Total Assets (Rs in mn)
MA (10-day)
2.44
Total Equity (Rs in mn)
MA (100-day)
2.70
Revenue (Rs in mn)
68,664.34 196.91 5,913.32
MA (200-day)
2.79
Interest Expense
1st Support
2.42
Loss after Taxation
2nd Support
2.34
EPS 09 (Rs)
5,855.52
1st Resistance
2.53
Book value / share (Rs)
2nd Resistance
2.56
PE 10 E (x)
Pivot
2.45
PBV (x)
(2,902.91) (3.224) 0.22 11.25
SILK closed up 0.07 at 2.46. Volume was 1 per cent below average and Bollinger Bands were 3 per cent wider than normal. The company's loss after taxation stood at Rs700.335 million which translates into a Loss Per Share of Rs0.32 for the nine months of current calendar year (9MCY10). SILK is currently 11.9 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 moderate flows of volume out of SILK (mildly bearish). Trend forecasting oscillators are currently bearish on SILK.
Lafarge Pakistan Cement Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
34.05
Total Assets (Rs in mn)
19,704.24
MA (10-day)
3.12
Total Equity (Rs in mn)
9,763.73
MA (100-day)
3.15
Revenue (Rs in mn)
8,129.96
MA (200-day)
3.06
Interest Expense
1st Support
2.95
Loss after Taxation
2nd Support
2.91
EPS 09 (Rs)
1st Resistance
3.04
Book value / share (Rs)
2nd Resistance
3.09
PE 10 E (x)
Pivot
3.00
PBV (x)
1,230.81 (1,278.96) (0.974) 7.44 0.40
LPCL closed down -0.06 at 3.00. Volume was 65 per cent below average (consolidating) and Bollinger Bands were 19 per cent narrower than normal. The company's loss after taxation stood at Rs1.045 billion which translates into a Loss Per Share of Rs0.80 for the nine months of current calendar year (9MCY10). LPCL is currently 1.9 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 LPCL (mildly bearish). Trend forecasting oscillators are currently bearish on LPCL.
BOOK CLOSURES Company
From
To
Pakistan Oilfields Namco Income Fund Fauji Fertilizer (Tfc) Nib Bank Attock Petroleum (Tfc) Searle Pakistan Cherat Papersack Kohinoor Energy Pakistan State Oil Pakistan Petroleum Pakistan Petroleum (Pref) Central Insurance # Colgate - Palmolive # Picic Growth Fund Picic Invt. Fund Picic Energy Fund Shabbir Tiles & Ceramics # Pioneer Cement Tariq Glass Bank Al-Habib Husein Industries # Crescent Steel Allied Bank Ltd.
22-Feb 22-Feb 23-Feb 23-Feb 24-Feb 24-Feb 01-Mar 02-Mar 03-Mar 03-Mar 03-Mar 03-Mar 04-Mar 05-Mar 05-Mar 05-Mar 06-Mar 06-Mar 07-Mar 07-Mar 07-Mar 09-Mar 10-Mar
01-Mar 23-Feb 01-Mar 05-Mar 04-Mar 09-Mar 11-Mar 08-Mar 09-Mar 09-Mar 09-Mar 10-Mar 10-Mar 12-Mar 12-Mar 12-Mar 12-Mar 12-Mar 13-Mar 17-Mar 12-Mar 15-Mar 16-Mar
D/B/R
Spot AGM/Date
100(I) 11-Feb 35(F) 25(B) 14-Feb 115(I) 15-Feb 50(R) 10(I) 50(I) 50(I) 23-Feb 30(I) 12.50(I) 7.5(I) 10(I) 35.23Pref(R) 200(R) 25-Feb 20(F) 20(B) 10(I) 01-Mar 20(F) 10(B) -
01-Mar 10-Mar 10-Mar 12-Mar 17-Mar 12-Mar 16-Mar
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols TRG Pakistan Ltd. Murree Brewery Co. Shezan International Pak Tobacco Shifa Int.Hospitals Media Times LtdXR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 3.08 92.15 169.39 105 31.11 19.63 2.78 41.66 3.01 22.46
High 3.14 95.7 174 105.45 31.5 20.49 2.95 41.89 3.1 23.24
Low Close 2.95 91.1 165 102.01 31.03 18.68 2.71 39.58 2.9 22.51
3.09 93 167.47 105 31.11 20.29 2.72 39.8 2.96 22.58
Change 0.01 0.85 -1.92 0 0 0.66 -0.06 -1.86 -0.05 0.12
Vol 737593 2315 9105 106 270 1017 140568 3156 344700 409550
7
Tuesday, February 22, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,101.74 Turnover 7,058,068 P/E (x) 5.95 Paid up Cap(mn)
Company
Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,127.67 1,086.75 Total cos Defaulter cos P/BV (x) ROE (%) 0.76 12.84
PE
Open
High
Low
Close Chg
37740 12.67 3000 0.60 8606 6175 -
18.73 2.02 2.62 3.39
19.18 2.10 2.64 3.45
18.50 1.97 2.52 3.21
19.00 2.03 2.52 3.28
Close 1,113.30 Listed cap 50,077.79 mn Payout (%) 62.56
Volume
0.27 0.01 -0.10 -0.11
5831328 180651 1046088 162261
Change 11.56 Market cap 77,073.49 mn Div Yield (%) 10.51
% Change 1.05 5-Day High 1,113.30 5-Day Low 1,076.91
Last 60 days High Low
2010 Div BR (%) (%)
20.65 2.67 3.45 4.65
17.5 1 -
17.70 1.97 2.50 3.21
2011 Div BR (%) (%)
-
-
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance Crescent Star Insurance EFU General Insurance Habib Insurance IGI Insurance Pak Reinsurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Shaheen Insurance United Insurance XB Universal Insurance
204 6.22 369 6.04 279 8.41 457 6.62 121 1250 400 3.19 718 8.57 3000 42.23 350 62.36 303 5.86 252 4.39 200 400 2.03 263 -
11.01 37.13 70.61 10.46 4.30 38.05 13.39 99.88 16.69 9.50 10.85 7.00 10.41 6.11 2.27
Company
Hub Power Japan Power KESC Kohinoor Energy Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric Tri-star Power XD
11572 1560 7932 1695 8803 3673 3541 191 1367 150
High Low 1,332.79 1,297.01 Total cos Defaulter cos P/BV (x) ROE (%) 1.37 9.35
PE
Open
High
Low
6.99 7.46 5.65 3.43 2.40 3.38 -
37.89 1.57 2.73 18.02 43.98 15.93 16.68 17.79 1.94 0.85
38.50 1.70 2.85 18.88 44.35 16.01 16.70 18.74 1.99 0.85
37.75 1.45 2.70 17.15 43.01 15.25 16.15 17.51 1.90 0.82
Close 1,310.27 Listed cap 95,369.29 mn Payout (%) 104.13
Change 1.27 Market cap 107,929.05 mn Div Yield (%) 7.09
Close Chg
Volume
Last 60 days High Low
38.14 1.45 2.70 17.15 44.01 15.65 16.40 18.10 1.92 0.82
222071 159102 303102 90504 384289 763920 987337 129826 211007 6500
41.20 2.15 3.55 22.85 45.85 18.01 18.70 19.35 2.80 1.49
0.25 -0.12 -0.03 -0.87 0.03 -0.28 -0.28 0.31 -0.02 -0.03
% Change 0.10 5-Day High 1,310.27 5-Day Low 1,293.54
2010 Div BR (%) (%)
36.00 1.45 2.16 17.15 39.31 13.32 14.25 16.50 1.90 0.70
50 15 50 20 -
2011 Div BR (%) (%)
7.8R - 10.00 - 30.00 -
Open 721.87 Turnover 53,067 P/E (x) 5.34 Paid up Cap(mn)
Company
PE
Open
EFU Life Assurance
850 32.43
58.13
New Jub Life Insurance
627 28.59
42.51
-
Company Sui North Gas Sui South Gas
High Low 1,617.90 1,569.58 Total cos Defaulter cos P/BV (x) ROE (%) 1.16 11.41
Close 1,573.98 Listed cap 12,202.80 mn Payout (%) 66.79
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
7.37 3.75
25.18 25.51
25.25 25.79
24.75 24.76
24.77 -0.41 24.88 -0.63
15013 59216
29.39 27.90
% Change -2.05 5-Day High 1,627.07 5-Day Low 1,573.98
2010 Div BR (%) (%)
24.15 19.95
20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index
Paid up Cap(mn)
Company
PE
Open
High
Allied Bank Limited 7821 6.36 68.15 Askari Bank 6427 7.16 16.03 Bank Alfalah 13492 13.22 10.53 Bank AL-Habib 7322 7.41 36.50 Bank Of Khyber 5004 5.47 4.11 Bank Of Punjab 5288 7.79 BankIslami Pak 5280 900.00 3.52 Faysal Bank 7327 4.32 13.60 Habib Bank Ltd 10019 7.60 123.16 Habib Metropolitan Bank 8732 7.65 25.29 JS Bank Ltd 8150 2.75 KASB Bank Ltd 9509 1.62 MCB Bank Ltd 7602 9.56 215.38 Meezan Bank 6983 7.69 17.88 Mybank Ltd 5304 2.60 National Bank 13455 6.40 73.97 NIB Bank 40437 2.58 Samba Bank 14335 1.78 Silkbank Ltd 26716 2.39 Soneri Bank 6023 6.57 Stand Chart Bank 38716 11.42 7.20 Summit Bank Ltd 7251 3.44 United Bank Ltd 12242 7.18 62.90
High Low Close 1,129.02 1,097.47 1,103.92 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.11 13.94 40.49 Low
Close Chg
Volume
69.25 67.25 67.46 -0.69 16.38 15.03 15.03 -1.00 10.55 10.30 10.31 -0.22 36.73 36.26 36.45 -0.05 4.20 4.00 4.10 -0.01 7.85 7.61 7.65 -0.14 3.70 3.47 3.60 0.08 14.00 13.25 13.39 -0.21 123.85 121.52 121.73 -1.43 25.70 24.80 25.00 -0.29 2.84 2.60 2.62 -0.13 1.70 1.56 1.59 -0.03 216.00 211.33 212.31 -3.07 18.20 18.00 18.15 0.27 2.90 2.25 2.32 -0.28 74.40 73.10 73.26 -0.71 2.65 2.52 2.55 -0.03 1.88 1.85 1.85 0.07 2.48 2.37 2.46 0.07 6.55 6.40 6.40 -0.17 7.50 6.61 7.42 0.22 3.57 3.35 3.37 -0.07 63.18 60.60 61.07 -1.83
Change -16.59 Market cap 671,701.01 mn Div Yield (%) 5.09
Last 60 days High Low
16254 74.00 1074672 19.25 578109 11.99 184393 39.49 649056 4.70 923713 10.38 42496 4.50 125008 16.47 103755 128.97 15953 29.28 141962 2.95 98234 2.80 206028 250.48 22028 20.30 3133 3.40 957528 80.61 516133 3.35 12510 2.17 1575309 3.05 22048 8.48 10411 9.04 106845 4.63 864395 70.65
% Change -1.48 5-Day High 1,125.41 5-Day Low 1,103.92
2010 Div BR (%) (%)
59.12 15.03 9.50 33.00 3.65 7.61 3.00 13.25 102.55 23.45 2.30 1.49 203.29 15.10 1.90 65.31 2.52 1.70 2.30 6.40 6.61 2.77 58.00
40 10B - 10B 20 20B - 20B 65 10B - 66R 85 10B - 15B -63.46R 50 -
-
-
NON LIFE INSURANCE
Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 23.80
Open 83.69
High 83.66
High Low 762.66 748.38 Total cos Defaulter cos P/BV (x) ROE (%) 0.58 5.20 Low 82.00
Close Chg 82.11 -1.58
Close 752.40 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 55359
Change -6.82 Market cap 47,194.35 mn Div Yield (%) 7.11
Last 60 days High Low 96.40
% Change -0.90 5-Day High 766.06 5-Day Low 752.40
2010 Div BR (%) (%)
79.25
10
2011 Div BR (%) (%)
-
-
-
High Low 728.48 705.02 Total cos Defaulter cos P/BV (x) ROE (%) 3.15 3.85
12.75 40.00 83.00 11.99 6.30 47.90 15.50 102.44 19.40 10.75 12.93 7.15 14.20 7.80 4.00
10.00 34.52 57.80 9.50 3.11 37.50 12.00 81.10 15.70 6.01 9.65 6.40 9.41 5.00 1.68
10 30 -
25R 10B 55B -
-
UP TO 100 VOLUME
25R -
Close 713.88 Listed cap 2,290.72 mn Payout (%) 355.53
Change -8.00 Market cap 8,437.56 mn Div Yield (%) 4.35
Symbols
Low
Close Chg
Volume
Last 60 days High Low
2010 Div BR (%) (%)
58.05
56.01
57.07 -1.06
33736
86.95
56.01
-
-
-
-
43.00
41.50
42.60 0.09
19327
49.31
39.05
-
-
-
-
Paid up Cap(mn)
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Equities Grays Leasing Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Sec Inv Bank Stand Chart Leasing
High Low 392.15 376.93 Total cos Defaulter cos P/BV (x) ROE (%) 0.25 0.91
PE
Open
High
Low
225 1.18 360 4.21 450 12.08 3750 4.21 250 215 600 688.00 2849 3166 626 0.58 7633 508 500 7.00 1000 1000 821 4.42 775 514 11.92 978 4.73
0.58 22.48 23.76 23.33 1.75 2.31 7.11 0.59 3.25 1.75 10.56 3.60 25.69 6.13 4.57 6.14 1.91 3.10 2.30
0.60 22.02 24.25 23.50 1.86 2.75 7.49 0.64 3.36 1.79 10.76 3.78 26.97 6.34 4.70 6.44 1.96 3.03 2.50
0.50 21.36 23.61 22.80 1.67 2.75 6.50 0.53 3.24 1.55 10.40 3.56 25.00 6.00 4.31 6.00 1.85 2.97 2.25
Close Chg 0.52 21.37 23.68 22.88 1.67 2.75 6.88 0.55 3.34 1.62 10.42 3.60 26.03 6.01 4.34 6.01 1.90 2.98 2.27
-0.06 -1.11 -0.08 -0.45 -0.08 0.44 -0.23 -0.04 0.09 -0.13 -0.14 0.00 0.34 -0.12 -0.23 -0.13 -0.01 -0.12 -0.03
Close 378.29 Listed cap 30,336.44 mn Payout (%) 99.56
Volume 168278 19356 14865 1005143 1557 555 502 5014 17265 19005 783772 77579 15915 78535 10900 9544 2207 1958 1309
Change -4.15 Market cap 17,691.67 mn Div Yield (%) 3.58
2011 Div BR (%) (%)
% Change -1.09 5-Day High 395.17 5-Day Low 378.29
Last 60 days High Low
2010 Div BR (%) (%)
0.95 24.85 28.00 30.20 2.75 3.00 8.98 1.09 3.95 2.14 13.56 4.49 31.50 7.40 5.43 7.29 2.50 4.99 3.00
30 11.5 10 -
0.33 16.80 23.25 22.80 1.28 0.18 6.22 0.46 2.95 1.05 10.05 3.20 25.00 6.00 3.80 5.76 1.80 2.00 1.67
2011 Div BR (%) (%)
20B 20B 10B -
-
-
EQUITY INVESTMENT INSTRUMENTS
Paid up Cap(mn)
Company
1st Fid Leasing Allied Rental AL-Meezan Mutual F. B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba Imrooz Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund NAMCO Balanced Fund Pak Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba Tri-Star 1st Modaraba U D L Modaraba
High Low 1,447.52 1,411.54 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 2.21
PE
Open
High
Low
264 8.31 600 3.24 1375 4.03 780 3.07 65 2.75 200 1.73 581 0.66 760 1.51 397 3.76 1008 6.12 30 15.60 3180 2.10 1186 1.31 283 1.88 1200 2.48 1000 7.23 125 4.50 1000 3.26 2835 4.05 2841 3.52 872 2.00 340 454 4.71 212 264 1.82
1.50 15.30 10.10 1.39 1.26 0.54 2.17 3.42 7.75 7.15 60.20 5.45 5.45 2.45 8.57 4.00 0.94 7.75 13.43 6.44 1.00 1.26 10.10 0.85 6.22
1.87 15.95 10.20 1.35 1.99 0.70 2.32 3.38 7.75 7.20 62.40 5.55 5.52 2.55 8.69 4.63 1.10 7.90 13.75 6.60 1.10 1.49 9.61 1.35 6.40
1.33 15.95 9.81 1.33 1.15 0.51 2.08 3.25 7.50 7.10 62.40 5.45 5.33 2.55 8.50 4.63 0.90 7.75 13.16 6.30 1.00 1.26 9.61 1.25 6.31
Close 1,418.22 Listed cap 29,771.58 mn Payout (%) 104.74
Close Chg
Volume
1.33 15.30 10.00 1.35 1.21 0.69 2.08 3.30 7.67 7.10 62.40 5.45 5.43 2.55 8.64 4.63 0.90 7.90 13.54 6.47 1.04 1.26 9.61 0.85 6.40
2006 200 34450 3010 4035 34918 9002 163000 1250 5715 500 240347 28818 1500 14673 5250 1007 11410 151298 44984 4503 461 719 101 896
2.34 16.00 11.50 2.79 1.99 0.87 2.57 3.89 9.00 7.30 65.60 6.17 6.61 3.50 10.24 4.73 2.00 8.83 16.49 7.95 1.20 2.54 10.63 2.25 6.55
-0.17 0.00 -0.10 -0.04 -0.05 0.15 -0.09 -0.12 -0.08 -0.05 2.20 0.00 -0.02 0.10 0.07 0.63 -0.04 0.15 0.11 0.03 0.04 0.00 -0.49 0.00 0.18
1.16 14.50 6.46 1.26 1.00 0.16 1.61 2.76 6.40 6.50 50.50 4.09 3.67 1.26 5.55 2.92 0.46 5.40 9.45 4.50 0.81 0.50 8.51 0.67 5.50
2010 Div BR (%) (%) 22.5 18.5 0 1.2 17 11 21 76 5 10 2.8 15.5 15 3 10 20 10 3 1 17 12.5
High 49.00 3.45 54.05 15.10 0.58 56.24 9.99 15.00 167.80 6.71 1.29 1050.00 2.74 125.01 2.20 2594.99 1.61 30.38 1.19 1.50 7.19 62.75 5.14 41.00 4.75 14.00 260.00 53.68 2.24 9.95 11.85 24.50 14.74 194.99 24.00 0.60 1.50 0.80 6.50 17.47 11.50 2.40 3.85 299.00 14.87 3.31 2.35 90.50 1.95 10.89 6.29 2.48 2.10 11.00 3.35 2.20 50.17 6.49 2.70 258.00 10.13 1.02 73.98 7.10 66.50 7.41 2.33 1.98
Low
Close
48.95 2.25 54.00 15.10 0.56 56.24 9.06 14.10 151.91 6.71 1.25 1000.00 2.27 125.00 2.20 2440.00 1.61 29.49 0.77 1.50 7.19 62.75 4.55 41.00 4.75 14.00 246.10 53.68 1.75 7.99 11.85 24.24 14.25 194.99 24.00 0.60 1.50 0.65 5.45 17.40 11.48 2.40 3.85 299.00 13.15 3.31 1.94 86.90 1.94 10.89 6.29 2.02 2.10 11.00 3.35 2.20 50.17 6.49 2.70 258.00 10.13 1.02 73.98 7.10 66.50 7.41 2.33 1.98
47.82 2.85 54.00 16.02 0.69 59.20 9.85 15.06 159.88 7.60 1.29 1000.09 2.36 128.00 2.12 2520.59 2.00 29.00 0.90 1.50 6.54 60.90 4.85 41.55 3.75 14.25 259.00 56.50 1.92 8.99 12.85 23.83 14.00 193.94 23.50 0.59 1.32 0.71 6.00 16.60 11.13 1.62 3.67 288.72 14.03 4.26 1.58 91.45 1.30 9.98 5.90 2.02 1.54 10.00 2.39 1.70 47.79 5.51 2.01 246.68 11.13 1.41 72.00 6.10 64.01 6.50 1.51 1.50
Change
Vol
0.00 0.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -19.40 0.00 0.00 0.00 -19.16 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
100 100 100 100 100 100 98 80 72 50 50 43 28 25 25 25 24 21 16 11 11 10 10 10 10 10 9 9 7 7 7 6 6 5 5 5 5 4 4 3 2 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
FUTURE CONTRACTS Open
Low
Close
221.00
217.00
217.76
-2.07
768000
NML-FEB
63.06
63.89
62.10
62.60
-0.46
705500
% Change 0.45 5-Day High 1,453.45 5-Day Low 1,411.85
NML-MAR
63.06
63.50
62.35
62.85
-0.21
343500
FFBL-MAR
37.68
39.50
38.25
38.28
0.60
289500
DGKC-MAR
23.76
24.50
23.80
23.86
0.10
261500
DGKC-FEB
24.51
24.74
24.01
24.33
-0.18
209000
POL-FEBB
307.70
309.00
307.01
307.29
-0.41
FFC-FEBB
120.61
121.45
120.00
120.70
0.09
201000
2011 Div BR (%) (%)
FFBL-FEB
41.18
41.35
41.00
41.10
-0.08
178500
NBP-MAR
74.07
74.60
73.90
73.99
-0.08
148500
-0.72
147500
ENGRO-FEB 219.83
Change 6.37 Market cap 18,994.28 mn Div Yield (%) 7.71
Last 60 days High Low
47.82 2.85 53.00 16.02 0.69 59.20 9.85 15.06 159.88 7.60 1.29 1019.49 2.36 128.00 2.12 2539.75 2.00 29.00 0.90 1.50 6.54 60.90 4.85 41.55 3.75 14.25 259.00 56.50 1.92 8.99 12.85 23.83 14.00 193.94 23.50 0.59 1.32 0.71 6.00 16.60 11.13 1.62 3.67 288.72 14.03 4.26 1.58 91.45 1.30 9.98 5.90 2.00 1.54 10.00 2.39 1.70 47.79 5.51 2.01 246.68 11.13 1.41 72.00 6.10 64.01 6.50 1.51 1.50
Symbols
Performance of SR Equity Investment Instruments Index Open 1,411.85 Turnover 764,119 P/E (x) 21.11
Open
GRAYS PAKL PCAL SHCM SPLC TICL BUXL CFL PSEL STCL TSMF SIEM CML HINO IGIBL RMPL DNCC SGLL CJPL LMSM SMCPL BTL FNEL PMRS SGMLPS UDPL BHAT MEHT FEM LATM MSCL AGL PRWM EXIDE GVGL HAJT MODAM GENP SMTM ALICO BCML FIBLM HIRAT IDYM JDMT KOHS PTEC SCL TREI ALTN ATFF AZAMT DCM DIIL ESBL EWLA GATI HUSI KML LAKST LPGL NMBL PAKD PICTPS SHJS SSIC SSML TRSM
% Change -1.11 5-Day High 745.45 5-Day Low 713.88
High
Open 382.44 Turnover 1,228,253 P/E (x) 11.63
2011 Div BR (%) (%)
Performance of SR Non Life Insurance Index Open 759.22 Turnover 366,042 P/E (x) 11.18
500 1470 6133 500 5518 14911 10000 4805 258319 1100 1949 500 676 501 3800
Performance of SR Financial Services Index
Company
Change -32.89 Market cap 34,474.86 mn Div Yield (%) 6.56
Paid up Cap(mn)
Open 1,120.51 Turnover 8,143,129 P/E (x) 7.95
-0.75 0.84 3.41 0.13 -0.88 -0.22 0.01 -0.09 -0.22 -0.77 0.00 0.15 -0.62 0.09 -0.03
FINANCIAL SERVICES
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,606.88 Turnover 74,229 P/E (x) 10.18
10.26 37.97 74.02 10.59 3.42 37.83 13.40 99.79 16.47 8.73 10.85 7.15 9.79 6.20 2.24
LIFE INSURANCE
Performance of SR Electricity Index
Paid up Cap(mn)
10.26 37.00 73.15 10.59 3.36 37.66 13.39 98.01 16.35 8.50 10.80 7.15 9.45 6.20 2.20
Performance of SR Life Insurance Index
ELECTRICITY Open 1,309.00 Turnover 3,257,663 P/E (x) 14.68
10.26 38.40 74.14 10.59 4.80 38.50 13.40 101.00 16.61 8.99 11.10 7.15 10.70 7.10 2.69
- 5.00 - 10.00 - 12.50 - 7.50 -
-
High
Change
Vol
206500
NBP-FEB
74.07
74.50
73.30
73.35
POL-MAR
307.70
309.49
308.00
308.53
0.83
129500
ANL-FEB
10.70
10.55
10.43
10.50
-0.20
123500
MCB-FEB
216.03
215.50
212.00
212.93
-3.10
122500
PSO-FEB
274.24
274.00
272.56
272.90
-1.34
101500
FFC-MAR
120.61
121.63
120.60
121.13
0.52
72500
PPL-FEB
202.05
202.60
200.00
200.15
-1.90
UBL-FEB
63.38
62.70
61.00
61.26
-2.12
61500
NCL-FEB
26.35
26.70
25.51
26.64
0.29
55500
PSO-MAR
269.24
271.00
270.00
270.00
65000
0.76
55000
NCL-MAR
26.35
26.50
25.90
26.48
0.13
43500
PPL-MAR
197.05
199.90
196.55
196.60
-0.45
38500
ANL-MAR
10.70
10.80
10.55
10.56
-0.14
31500
BOP-FEB
7.80
7.80
7.50
7.66
-0.14
31500
MCB-MAR
193.66
203.00
191.00
193.90
0.24
20000
OGDC-FEB
165.16
165.50
164.00
164.56
-0.60
14500
UBL-MAR
14500
63.38
62.30
61.20
61.95
-1.43
OGDC-MAR 165.16
164.01
163.00
163.68
-1.48
12500
NETSOL-FEB 22.50
23.15
23.00
23.00
0.50
10500
NETSOL-MAR 22.50
22.93
22.80
22.85
0.35
9000
HUBC-FEB
37.86
38.20
38.00
38.03
0.17
7500
AICL-FEB
83.40
83.56
82.10
82.50
-0.90
7000
LUCK-FEB
67.95
67.80
67.25
67.47
-0.48
6500
PTC-FEB
18.79
19.10
19.00
19.08
0.29
6000
AICL-MAR
83.40
82.80
82.80
82.80
-0.60
ENGRO-MAR 181.53
183.05
181.50
181.88
0.35
4000
67.95
67.95
67.95
0.00
1000
LUCK-MAR
67.95
5000
BOARD MEETINGS
Pakistan Telecommunication Co Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
38.54
Support 1
11,904.00
MA (5-day)
12,018.39
Support 2
11,843.35
MA (10-day)
12,131.04
Resistance 1
12,066.15
11,417.27
Resistance 2
12,167.65
MA (100-day)
Fair Value
*Invest Cap AKD Securities Ltd
Rs Recommendations Buy
*Invest Cap
23.91
Buy
AKD Securities Ltd
Positive
TFD Research
25.8
Technical Outlook
10,656.21
Pivot
Technical Analysis
Leverage Position
12,005.50
and 2nd resistance level at 12,167.65, while Index will continue to find its 1st support level at 11,904.00 and 2nd support level at 11,843.35. KSE 100 INDEX is currently 12.3 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 INDEX at a relatively equal pace. Trend forecasting oscillators are currently bearish on INDEX.
Brokerage House
Fair Value
*Invest Cap
Rs Recommendations
77
AKD Securities Ltd
71.45
TFD Research
78.6
Technical Analysis 39.74 64.20 58.99 53.05
AKD Securities Ltd
145
Neutral
44.25
Neutral
TFD Research
139.5
Neutral
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
326.94 13,417.56 85.79 41.13
* 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)
66.62 151.50 123.67 115.38
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
oscillators are currently bearish on PTC.
Trend forecasting oscillators are currently bearish on FFBL.
373.19 57,441.39 68.38 153.55
* Target price for Jun-11 & **Net Open Interest in future market
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
36
Buy
*Invest Cap
AKD Securities Ltd
38.14
Buy
AKD Securities Ltd
TFD Research
36.55
Positive
TFD Research
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
20.08 27.04 28.37 26.75
National Bank of Pakistan
Fair Value
Rs Recommendations
Brokerage House
200.80 4,869.51 50.64 24.31
* Target price for Jun-11 & **Net Open Interest in future market
Rs Recommendations
*Invest Cap
52.4
Sell
229.9
Accumulate
AKD Securities Ltd
75.5
Neutral
245.4
Positive
TFD Research
92.3
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
Hold
210
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
forecasting oscillators are currently bearish on FFC.
Engro Corporation
57.48 216.20 192.47 186.88
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 32,038.90 197.48 218.53
* 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)
36.83 75.16 70.52 68.36
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.50 23,333.15 146.87 73.68
* Target price for Jun-11 & **Net Open Interest in future market
NML closed down -0.54 at 62.30. Volume was 64 per cent below average (con- DGKC closed down -0.17 at 24.25. Volume was 76 per cent below average ENGRO closed down -2.09 at 217.24. Volume was 52 per cent below average NBP closed down -0.71 at 73.26. Volume was 78 per cent below average (consolidating) and Bollinger Bands were 84 per cent wider than normal.
(consolidating) and Bollinger Bands were 17 per cent narrower than normal. DGKC is currently 9.4 per cent below its 200-day moving average and is ENGRO is currently 16.3 per cent above its 200-day moving average and displaying a downward trend. Volatility is extremely high when compared is displaying an upward trend. Volatility is low as compared to the average displaying a downward trend. Volatility is relatively normal as compared to to the average volatility over the last 10 trading sessions. Volume indicavolatility over the last 10 trading sessions. Volume indicators reflect modthe average volatility over the last 10 trading sessions. Volume indicators tors reflect moderate flows of volume out of DGKC (mildly bearish). Trend reflect moderate flows of volume out of NML (mildly bearish). Trend fore- forecasting oscillators are currently bearish on DGKC. Momentum oscilla- erate flows of volume into ENGRO (mildly bullish). Trend forecasting oscil-
solidating) and Bollinger Bands were 21 per cent narrower than normal.
NML is currently 17.4 per cent above its 200-day moving average and is
casting oscillators are currently bearish on NML.
tor is currently indicating that DGKC is currently in an oversold condition.
lators are currently bullish on ENGRO.
(consolidating) and Bollinger Bands were 3 per cent narrower than normal. NBP is currently 7.2 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 NBP at a relatively equal pace. Trend forecasting oscillators are currently bearish on NBP.
Time
22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb 22-Feb
1:00 4:00 10:30 9:00 4:30 10:30 10:00 10:30 11:00 2:30 2:30 3:30 4:30 11:00 11:00 10:00 10:30 11:30 11:00 10:00
TECHNICAL LEVELS
Technical Outlook
Leverage Position
55.22 41.23 35.17 31.55
Date
Trust Securities & Brokerage Ltd Js Global Capital Ltd Ferozsons (Lab) Pakistan Allied Rental Modaraba Dynea Pakistan Ltd Indus Motor Company Ltd Berger Paints Pakistan Ltd Hafiz Textile Mills Ltd Rupali Polyester Ltd Atlas Fund Of Funds Atlas Income Fund Asian Stock Fund Ltd Safeway Mutual Fund Ltd Rupali Polyester Ltd Fateh Industries Ltd Fateh Sports Wear Ltd Sazgar Engineering Works Ltd Gadoon Textile Mills Ltd Olympia Textile Mills Ltd Southern Electric Comp Ltd
Company
flowing into and out of PTC at a relatively equal pace. Trend forecasting 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
Positive
* Target price for Jun-11 & **Net Open Interest in future market
Accumulate
volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators
Accumulate
175.80 10,952.34 85.81 62.75
Hold
45.52
playing a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is extremely low when compared to
*Invest Cap
Leverage Position
Rs Recommendations
149
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
*Invest Cap
PTC is currently 0.6 per cent below its 200-day moving average and is dis- FFBL is currently 30.1 per cent above its 200-day moving average and is FFC is currently 33.3 per cent above its 200-day moving average and is
Buy
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House
Hold
PTC closed up 0.27 at 19.00. Volume was 188 per cent above average FFBL closed down -0.03 at 41.04. Volume was 64 per cent below average FFC closed up 0.63 at 153.92. Volume was 14 per cent above average and (trending) and Bollinger Bands were 28 per cent wider than normal. (consolidating) and Bollinger Bands were 67 per cent narrower than normal. Bollinger Bands were 42 per cent narrower than normal.
Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
39
Dera Ghazi Khan Cement Co Ltd
Nishat Mills Ltd
Fair Value
Technical Outlook
RSI (14-day) 52.42 Free Float Shares (mn) 585.02 MA (10-day) 18.56 Free Float Rs (mn) 11,115.45 KSE 100 INDEX closed down -76.47 points at 11,964.68. Volume MA (100-day) 19.17 ** NOI Rs (mn) 7.93 was 63 per cent below average (consolidating) and Bollinger Bands MA (200-day) 19.12 Mean 18.85 were 6 per cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,066.15 * Target price for Jun-11 & **Net Open Interest in future market MA (200-day)
Brokerage House
25
TFD Research
Fauji Fertiliser Co
Fauji Fertiliser Bin Qasim Ltd
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 35.72 2.70 2.65 38.45 66.75 66.00 24.82 50.50 49.75 31.67 22.60 22.35 35.48 23.45 23.20 33.20 81.50 80.95 27.62 14.60 14.15 44.89 10.30 10.20 50.10 366.00 360.95 34.53 113.95 113.40 33.15 10.25 10.15 41.38 3.50 3.35 24.02 7.55 7.45 37.00 1.75 1.70 20.73 23.95 23.65 41.26 2.70 2.65 34.21 2.25 2.15 35.22 37.50 37.15 19.20 56.05 55.00 57.36 215.55 213.85 31.10 13.10 12.80 32.44 4.35 4.20 55.41 40.80 40.55 67.15 152.80 151.65 45.86 120.90 120.05 49.45 37.75 37.40 54.51 148.55 147.40 27.02 258.75 253.95 41.12 3.50 3.45 35.17 1.35 1.30 51.81 2.55 2.45 44.21 10.30 10.15 59.35 43.25 42.45 44.09 2.65 2.60 52.95 15.55 15.30 34.48 66.90 66.45 37.45 210.40 208.55 28.06 2.35 2.30 37.22 72.80 72.30 63.80 26.00 25.35 43.46 22.30 22.05 32.49 2.50 2.45 56.45 2.45 2.35 40.02 61.55 60.75 35.15 163.60 162.35 48.28 2.90 2.80 45.52 1.85 1.80 54.13 2.65 2.55 32.72 5.90 5.75 37.15 305.35 303.85 31.48 199.15 198.15 39.53 63.10 62.30 32.27 271.25 270.20 51.81 18.60 18.20 42.26 204.75 203.95 35.92 24.60 24.40 57.02 13.35 12.90 56.21 24.50 24.10 39.29 1.95 1.90 39.63 3.00 2.85 30.15 60.05 59.05 40.90 2.50 2.45
1st 2nd Resistance 2.80 2.85 68.75 70.00 51.70 52.15 23.30 23.75 24.10 24.50 83.20 84.25 15.95 16.85 10.70 10.90 375.35 379.65 115.55 116.60 10.50 10.65 3.70 3.80 7.80 7.95 1.90 2.05 24.55 24.90 2.85 2.90 2.40 2.50 38.35 38.85 58.05 59.10 220.00 222.70 13.85 14.30 4.70 4.95 41.40 41.75 154.80 155.65 123.20 124.70 38.50 38.90 150.60 151.45 272.15 280.80 3.75 3.85 1.60 1.80 2.80 2.95 10.65 10.90 44.55 45.15 2.80 2.90 16.10 16.45 67.75 68.15 215.10 217.90 2.50 2.60 74.10 74.90 27.15 27.65 23.05 23.50 2.60 2.70 2.60 2.70 63.50 64.65 166.50 168.15 3.10 3.20 1.95 2.00 2.85 3.05 6.25 6.45 309.15 311.50 201.95 203.75 64.60 65.30 274.15 276.00 19.30 19.55 206.65 207.75 25.10 25.40 14.35 14.85 25.50 26.15 2.10 2.15 3.15 3.25 62.65 64.20 2.60 2.70
Pivot 2.75 68.00 50.95 23.05 23.85 82.60 15.50 10.55 370.30 115.00 10.40 3.60 7.70 1.85 24.25 2.80 2.35 38.00 57.05 218.25 13.55 4.60 41.15 153.65 122.35 38.15 149.40 267.35 3.65 1.55 2.70 10.55 43.80 2.75 15.90 67.30 213.20 2.45 73.60 26.50 22.80 2.55 2.55 62.70 165.25 3.00 1.90 2.80 6.10 307.65 200.95 63.80 273.10 18.90 205.85 24.90 13.90 25.15 2.05 3.05 61.60 2.55
8
Tuesday, February 22, 2011
Mobile penetration in Pakistan reaches 60.4pc
Cellularisation faster than ever BEIJING: A vendor works at a store selling Huawei network devices at a computer mall.-Reuters
Intel takes new shots at cell chips KARACHI: Intel Corporation has announced a number of advancements to its mobile portfolio across a broad spectrum of silicon, software and connectivity, including the sampling of "Medfield," the company's 32nm phone chip, said a handout issued here. The company also announced accelerated LTE platforms, a new MeeGo tablet user experience, the acquisition of Silicon Hive, and several new mobile investments and software development tools to aid in the delivery of premium IntelÂŽ architecture-based device experiences across multiple operating systems. As the lines between computing and communications continue to blur, this mobile momentum builds on and complements Intel's growing capabilities in mobility. Intel is accelerating plans to become the processor architecture of
choice across a variety of smart device and market segments -netbooks and laptops, cars, smart phones, tablets and smart TVs -- while addressing the evolving needs of device manufacturers, service providers, software developers and consumers around the world. "The mobile Internet, with all of its complexity, presents tremendous opportunity and growth prospects for the industry at large," said Anand Chandrasekher, Intel senior vice president and general manager of the company's Ultra Mobility Group. "Through these efforts and others still to come, Intel is bringing the full weight of its resources, technology investment and the economics of Moore's Law to drive down costs and power requirements for new markets, while delivering the leading-edge performance that the industry has come to expect from us."-PR
Pakistan’s WC record-makers to get Ufone cash TFD Report LAHORE: Ufone will be offering cash prizes at the end of the Cricket World Cup 2011 to the player who hits the most fours and sixes put together, to the bowler who takes the maximum wickets and to the bowler who takes the maximum hat tricks. Each winner will get a cash prize of Rs1 million for their outstanding performance. This was announced at an event held in Lahore which was attended by the team and management of the Pakistan Cricket Team. Cricket is the pulse of life for Pakistanis all over the world. With the World Cup right around the corner the country is abuzz the much awaited tournament. The passion is running high with every individual eagerly awaiting the
success of the national team. Ufone one of the leading telecom companies in the country which has always been at the forefront to motivate the younger generation has taken yet another exciting step to help motivate Pakistan's young and talented Cricket Team. It is pertinent to mention that Ufone has consistently supported domestic teams off late. Akbar Khan Chief Marketing Officer Ufone speaking at the occasion said, "We stand by our nation and our highly talented cricket team and are sure that this gesture from Ufone is sure to build greater motivation and confidence within each of the players alongside increase the spirit of the team throughout the tournament". "We wish our team and the nation the very best", he added.
4th TeleCON-2011 to be held on Apr 12 LAHORE: The 4th Pakistan Telecommunication Congress 2011 (TeleCON 2011) with a special emphasis on "Embracing New Technologies and Economic Challenges" is being organised on April 12 in Islamabad by Shamrock Conferences International. This high profiled forum is held annually, in collaboration with the Pakistan Telecommunication Authority (PTA); and this year too, Chairman PTA, Dr Mohammad Yaseen, will deliver the keynote address and highlight the critical path as the industry takes next steps. TeleCON-2011 is the fourth in a series of Telecom & IT conferences designed to assemble industry-specialists, regulators,
technologists, speakers and investors from national and global institutions, including the government and private sectors. These experts will discuss the challenges and opportunities to equip this dynamic sector with revolutionary cutting-edge technology available in the developed world. Menin Rodrigues, Convener, 4TH Pakistan TeleCON Congress 2011 said, "The national telecom objectives and policies are taking its due positioning with the rapid technological advancements in the Pakistani telecom & IT space. Over the years, this forum has inspired innovative initiatives for evolved operations in connectivity, broadband, wireless access, mobility and security." NNI
Mobilink has utility bill-paying solution ready LAHORE: Mobilink, Pakistan's market leader in cellular services has added Utility Bill Payments solution to its Mobile Financial Services Portfolio enabling all Pakistanis regardless of cellular ownership to make utility bill payments. With the largest portfolio of utility companies across Pakistan on board with Nadra e-Sahulat, Mobilink was the only cellular operator currently offering bill payments solution for all forms of utilities in collaboration with Nadra eSahulat, said a press release issued here on Monday. As of today bill payments for 18 utilities, including electricity, gas, water, and telephone can be made at all Mobilink business centers, franchises and selected Mobilink shops. Service powered by Nadra's eSahulat is open to customers of all networks and even those who do not own a cellular connection. Designed as a complete experience keeping the needs and concerns of the customer in mind every step of the way, the Bill Payment Solution offers unmatched convenience to the end user.
The solution does not require any registration or any additional fee associated with it at any point. Moreover, all retailer transactions occur in real time, are secured by a 4 digit MPIN and generate an instant SMS receipt sent to both user and retailer in case of mobile ownership. The SMS based confirmation is not only free of cost but it is a value addition to facilitate the customer track his or her transaction. Consumer bills are also stamped for authenticity. At the back end, the service has a helpline from 8 AM-12 AM to answer customer queries. "The mobile phone has emerged from a mere communication tool with a boundless range of opportunities. Customers today want convenient ways to engage with and manage their daily financial lives. Our bill payments empower customers to make utility bill payments anytime, anywhere through a reliable and secure channel. As the trusted cellular services provider for over 30 million Pakistanis, we feel that adding payment capabilities to our retailer network is a natural step in establishing Mobilink's position in the mobile financial services arena," said Bilal Munir Sheikh, Vice President Marketing, Mobilink at the launch of the Utility Bill Payments Solution.-NNI
ISLAMABAD: Cellular penetration in Pakistan has been increasing at a high pace and stands at 60.4 per cent showing a cumulative average growth of five per cent in three years. According to the Information Economy Report, 2009, published by the United Nations Conference on Trade and Development (UNCTAD), Pakistan is among the five dynamic economies of developing Asia in terms of mobile penetration. Mobile operators have been
working aggressively to increase their networks especially to the un-served areas, shrugging off disturbances in Khyber Pakhtunkhwa and Balochistan, the report said. According to the data updated till July 2010, total mobile subscribers in Pakistan reached a staggering 100 million. During the financial year 200910, cellular subscriber growth was 5.1 per cent compared with 7 per cent in 2008-09 when the total subscribers stood at 94.3 million, the report said.
Regarding a slow down in growth, the spokesman of Pakistan Telecom Authority (PTA) said identifying active subscribers have made figures more realistic in the cellular sector. "We have implemented the standard active subscriber definition in the industry which has forced the operators to adopt data cleaning process." Impact of the verification of SIMs and falling economic and security conditions also played its role in slowing the subscribers' growth, he said.-APP
Local IT cos going to game developer moot ISLAMABAD: Pakistan's IT firms will participate in the Game Developer Conference (GDC) and Expo, being held in San Francisco (USA) from Feb 28 to March 4. There are 12 selected companies who will represent Pakistan in one of the biggest global events, under the supervision of Pakistan Software Exports Board (PSEB). Nearly 70 per cent of the delegation's members have been awarded visa till now whereas rest of them are expected to get their visas next weeks after their interviews in US Embassy, said an official at PSEB. He told the IT and Telecom news website that PSEB invited Expression of Interests (EOIs) from its member companies for mega event last month. It received dozens of applications while only 12 teams were selected after evaluating the business and professional potential of the IT companies in Games Designing. In return for PSEB's substantial investment,
PSEB expects that the companies would attempt to attain maximum benefit from the event by bringing business/foreign investment to Pakistan and project Pakistan's IT sector as a viable, cost effective, high quality destination for developing Gaming Products, the official added. He said PSEB sponsors companies to attend international event to promote a collective image building of this Pakistani IT industry. The end goal is to provide the local gaming industry the necessary support in order to facilitate the industry to bring employment generation and foreign exchange earnings to Pakistan. PSEB had sponsored IT firms for the same event earlier in fiscal year 2002-03. Besides, IT firms individual participate on their behalf. The Game Developers Conference (GDC) is the largest annual gathering of professional video game developers, focusing on learning, inspiration, and networking.-APP
MD PSEB lauds Pakistani IT firms
IT sector at home seen on meteoric rise ISLAMABAD: Pakistan has a potential of earning foreign exchange of one billion dollars every year through promotion of Animation Industry that is a fullfledged entertainment industry world over having export potential of $70 billion. This was stated by Pakistan Software Export Board Managing Director Zia Imran in a statement. He said that recent selection of a Pakistani IT firm for the 'Official Game' of the ICC World Cup is a unique honour for the country besides being a pointer towards the strength of the IT industry in Pakistan. Imran further said the Pakistani IT industry had a huge potential in IT applications and the industry was sure to go places because of the broad support provided by the PSEB through its programmes successfully catering to needs of human capital, office space, marketing, company capability development, telecoms bandwidth, industry
finance, public policy, strategy & research, and facilitation. He further said the Pakistani IT companies has penetrated the international market at the back of high-quality services and competitive products and the selection of the Pakistani industry for designing the Official Game of the ICC World Cup was a reflection of the immense talent and potential for innovation possessed by our professionals. According to industrial data, global gaming industry has seen a meteoric rise over the past several years. The world market for gaming software is expected to be worth approximately $91.96 billion by 2015 as per various credible estimates. The video game industry in the US/Canada alone will reach $21.6 billion in sales by 2013. US Gaming Industry is expected to be over three times the size of recorded music industry. In the gaming market, mobile/online gaming segments are expected to grow significantly. In view of the stel-
lar growth statistics of the Gaming Industry, it is pertinent to take steps to bolster the local Gaming Industry. The Animation/Gaming Industry in Pakistan is characterised by young, energetic entrepreneurial individuals and continues to win laurels abroad due to their high quality and high impact work. In Malaysia, Pakistani information technology companies won seven awards at the 10th International Asia Pacific ICT Awards (APICTA) thereby securing the highest number of awards thus raising the profile of the country and bringing attention to the quality work being done here. Applications developed by Pakistani gaming industry are consistently ranked among the top ten applications on Apple Apps Store. These homegrown achievements are laudable in view of the challenges faced by IT companies while operating in difficult local environment.Online
BARCELONA: A visitor tests a new mobile phone 'Optimus 3D' by LG at the 3GSM World congress in Barcelona.-Reuters
Video making 2nd mobile revolutiona BARCELONA: Smartphones and tablets are driving a mobile revolution, allowing video to take the lead in a business once dominated by voice calls, industry players and experts say. Video already does or will soon account for the majority of mobile data traffic, according to companies that monitor traffic, and with the proliferation of tablet computers that is likely to increase. "If you want to put 2011 into a nutshell you can say that for the mobile phone companies their business is changing from an ears business -- people speaking and hearing -- into an eyes business with people looking at little screens," said Stefan Zehle, CEO of Coleago Consulting. Skype launched last month video calling for the iPhone, and Apple has its own application, which is so far limited only to WiFi connections. "I think the value for the end user to actually watch each other while talking is limited," said Magnus Rehle, managing director of Greenwich Consulting. "Whenever you film you always get a bunch of rubbish that you want to trim and cut out," said muvee founder and chief Terence Swee. "You don't want to go through the hassle of transferring video to a computer to edit, you want to do it on your phone directly and with muvee you can."APP
PTCL declares its cricket WC mania ISLAMABAD: Pakistan Telecommunication Company Ltd (PTCL) while making itself the part of on going World Cup mania has announced various attractions where all the new and existing customers of PTCL landline, Vfone, EVO, broadband and smart TV will be entered into a raffle to win other precious prizes by upgrading to other packages. According to a press release issued here on Monday, the customers who purchase either a new EVO connection on unlimited or EVO max package or the existing customers upgrading their package to unlimited or EVO max package would qualify for mega and bumper prize. Not only this, broadband customers will also be entering into lucky draw and qualify for special prizes by getting the new 1mbps, 2mbps, student package or other higher connection and also on upgradation of the existing packages. Similarly upon getting a Smart TV connection during the world cup, customers can also qualify for the lucky draw in addition to 50percent discount on STB. PTCL has also introduced Cricket Info service for its landline and Vfone customers. PTCL cricket service is loaded with exciting 'World Cup Challenge Service' a cricket quiz, winners of which will be awarded with valuable prizes. PTCL cricket info service is designed especially to cater to huge interest of its customers within this sport and to provide them with uninterrupted commentary and updates of the event especially during the load shedding hours The service would be readily available on customers' telephone sets, which they can access by dialing 1216. Further an IVR will guide them to enter world cup challenge quiz. The prizes have been categorized in to mega, bumper and several other prizes.-NNI
9
Tuesday, February 22, 2011
Libyan unrest sends oil to 2-1/2-year high Striking workers stop production at Nafoora: Al Jazeera LONDON: Clashes in oil producer Libya sent benchmark Brent crude to 2-1/2-year highs on Monday above $105 a barrel on fears that supplies to Western countries could be disrupted, while US prices rallied by more than $4. Scores were killed in anti-government protests as one of the region's bloodiest revolts hit Tripoli, while army units defected to the opposition and long-time leader M u a m m a r Gaddafi's son vowed to fight to the last man standing. The leader of the Al-Zuwayya tribe in eastern Libya said oil exports to the West would be cut off unless authorities stopped violence against protesters. "Oil production in Libya could be cut off. They might be just idle threats but that's potentially up to 1.6 million bpd," said Rob Montefusco, an oil trader at Sucden Financial. US crude oil prices were $3.99 higher at $90.19 a barrel at 1557 GMT, while the April contract was $4.37 higher at
Tokyo rubber falls on profit-taking BEIJING: Key Tokyo rubber futures retreated on Monday afternoon following losses in Shanghai rubber prices. Prices early in the morning hovered near a record-high on strong oil prices and supply concerns. The key Tokyo Commodity Exchange rubber contract for July delivery fell 1.5 yen from Friday and settled at 524.9 yen per kg. The most active Shanghai rubber futures for May delivery traded down 1.5 per cent and settled at 40,495 yuan ($6,160) per tonne. Volume fell to 520,416 lots from 728,602 lots. The contract hit a record high of 43,500 yuan last week. "Tokyo prices are pressured by Shanghai prices and market concerns over possibly more government measures" after Beijing raised reserve requirement ratios (RRR) on Friday, said Shi Hai, an analyst with Shanghai-based Tonglian Futures. -Reuters
$94.08. Brent futures were up $2.30 at $104.82 a barrel by 1514 GMT after breaking to a fresh 2-1/2 year high at $105.15 a barrel. But Brent's premium to US crude oil has shrunk by more than $5 a barrel from over $16 a barrel last week despite violence in the oil-producing region.
Libya produced 1.58 million barrels per day in January, and major disruptions in the oil-rich North African country would present serious strategic challenges for Western governments. European oil and gas companies have evacuated staff and suspended drilling preparations in Libya as violence spreads across the north African country. A wave of popular unrest in North Africa and the Middle East has already toppled longtime leaders in Tunisia and
Egypt, and traders are watching events carefully in other members of the Organization of the Petroleum Exporting Countries (OPEC) for signs of escalating tension. "The biggest concern is current contagion spreading to Saudi Arabia," said Michael Hewson, a market analyst at CMC Markets, adding that "markets hate uncertainty and will act first, think later". S a u d i Arabia, the world's biggest oil exporter, fears that unrest in Bahrain, where majority Shi'ites are protesting against the Sunni government, might spread to its Shi'ite minority, who mostly live in the eastern province, the source of Saudi oil wealth. Elsewhere, in OPEC's second-largest producer Iran, the daughter of former president Akbar Hashemi Rafsanjani was arrested on Sunday for taking part in a banned opposition rally, the official IRNA news agency reported. -Reuters
Palm slips as China steps up inflation fight KUALA LUMPUR: Malaysian palm oil futures fell to a onemonth low on Monday, on concerns demand from China may slow after the government moved to drain cash from the economy and rein in inflation. Palm oil followed last Friday's declines in the US soy complex when China raised its required reserves for big banks to record levels. Weaker Malaysian exports worsened the declines but shipments to China doubled in Feb. 1-25, signalling some restocking demand after Lunar New Year holidays earlier this month. The benchmark May crude palm oil contract fell 0.7 per cent to 3,656 ringgit ($1,205.010) per tonne after touching its lowest level since January 18 at 3,621 ringgit. Overall traded volume more than tripled to 25,633 lots of 25 tonnes each from the usual 15,000 lots. A Reuters technical analysis showed Malaysian palm oil price will decline further to 3,570 ringgit per tonne, based
on its wave pattern and a triangle pattern. Although cargo surveyor Intertek Testing Services said exports of Malaysian palm oil products for Feb. 1-20 fell 3.2 per cent to 825,180 tonnes from the same period a month ago, demand from China limited the declines. Another cargo surveyor, Societe Generale de Surveillance, showed a 1.5 per cent rise in overseas demand over the same period. Indonesian Palm Oil Board (IPOB) said on Friday its palm oil production is estimated to rise by 7-9 per cent this year, while global consumption is likely to increase 5 per cent annually over the next five years. The most active September soyoil contract on China's Dalian Commodity Exchange dropped more than 1 per cent on Beijing's inflation move and speculation over a possible move to cut a range of import tariffs, although the proposal was later rejected. -Reuters
Copper down on broad risk aversion, China worries LONDON: Copper slipped on Monday, as tensions in Arab states deterred investors from riskier assets and on concern China's recent monetary tightening may dent demand from the world's top consumer of metals. Three-month copper on the London Metal Exchange closed at $9,810 a tonne versus $9,860 at the close on Friday. Nickel hit a 34-month high and aluminium touched a 29-month peak, with nickel supported by Friday's news that Brazilian miner Vale was to cut some of its 2011 nickel production. "You've got fears over Chinese demand looking forward," Carl Firman, an analyst at Virtual Metals said, citing market concerns about monetary tightening trends in China. "(And) there's a bit of risk associated with the Middle East," he added. On the upside, however, signs of economic recovery in the United States supported sentiment, he said. Unrest in Libya stoked risk aversion in commodity and financial markets, part of a wave of protests that have swept through the Arab world this year and already deposed the presi-
dents of Tunisia and Egypt. Investors were also wary about whether or not a trend of monetary tightening in China could dent demand for industrial metals. China raised bank reserve requirements by 50 basis points
Shanghai copper climbs Shanghai copper climbed one per cent on Monday, shrugging off Beijing's latest tightening move, as the longer-term outlook for industrial metals remains robust, and London aluminium rose to a 29-month high. Shanghai's most-active copper contract for May delivery gained one per cent to 74,630 yuan a tonne. on Friday as it tackles high inflation. Supporting sentiment, however, data showed German business morale rose to a record high in February, its ninth consecutive increase. The data indicated the
strong recovery in Europe's powerhouse economy remains intact. Keeping demand concerns alive, inventories of copper at LME warehouses continued climbing, last up 3,550 tonnes to 411,475 tonnes, the highest level since last August. Copper stocks have climbed since midDecember but are still down from cycle highs hit last February at 555,075 tonnes. Aluminium stocks rose 28,150 tonnes to 4,621,325 tonnes. The metal used in transport and packaging closed at $2,580 from $2,570 at the close on Friday, and earlier hit a high of $2,585. Nickel hit a high of $29,425 a tonne, before closing at $29,300 from $29,150 on Friday. Battery material lead closed at $2,675 from $2,665 a tonne and zinc was at $2,596 a tonne from $2,553. Tin, untraded at the close, was last at $32,325/32,400 a tonne versus $32,350 on Friday. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for February 18 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 18 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
2325 2345 2305 2325 2275 2285 2275 2285
2508 2509 2540 2542 2603 2608 2647 2652
9805 9806 9795 9800 9655 9665 9265 9275
2610 2613 2615 2619 2570 2575 2528 2533
28280 28285 28350 28355 27305 27405 26005 26105
TIN
ZINC NASAAC
31750 2515 31775 2517 31790 2545 31795 2545.5 31440 2583 31490 2588 2570 2575
2480 2481 2500 2505 2540 2550 2595 2605
European vegetable oil prices ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11 972.00-13.00, Mar11 975.0010.00, Apr11 975.00-10.00, May11/Jul11 980.00-15.00, Aug11/Oct11 985.00-15.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1015.00-10.00, Aug11/Oct11 985.00+0.00, Nov11/Jan12 990.00-5.00, Feb12/Apr12 995.00-7.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1445.00+0.00, Jul11/Sep11 1445.00+0.00, Oct11/Dec11 1390.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Mar11/Apr11 1537.50+0.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Afloat 1270.00, Feb11 1270.00+0.00, Mar11 1270.00+0.00, Apr11/Jun11 1260.00-5.00, Jul11/Sep11 1220.00-7.50, Oct11/Dec11 1205.00-10.00. PALMOIL: RBD dlrs tonne cif Rotterdam Mar11 1327.50, Apr11/Jun11 1297.50. PALMOIL: RBD dlrs tonne fob Malaysia Mar11 1272.50, Apr11/Jun11 1242.50-5.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Apr11/Jun11 1245.00-10.00, Jul11/Sep11 1190.00-5.00, Oct11/Dec11 1167.50-15.00, Jan12/Mar12 1145.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2260.00-15.00, Mar11/Apr11 2250.00-10.00, Apr11/May11 2240.00-10.00, May11/Jun11 2230.00-10.00. Reuters
Indian sugar up on stockists demand MUMBAI: Indian spot sugar prices rose for the first time in a week on Monday as stockists stepped up purchases to meet the ongoing wedding season demand, though supply surplus for the month weighed, dealers said. "There was good buying from stockists at lower levels. They were expecting an improvement in demand due to ongoing wedding season," said a senior official at Bombay Sugar Merchants Association (BSMA). In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety rose by 0.5 per cent to 2,690 rupees ($59.8) per 100 kg. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended down 0.1 per cent at 2,818 rupees per 100 kg. Physical white sugar offtake is expected to pick up as pent-up demand returns to the market, a senior Indian refinery executive said on Sunday. India has made available 1.62 million tonnes of non-levy sugar for February, including 300,000 tonnes unsold stocks of January. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. -Reuters
WEST BANK - PALESTINE: Palestinian farmers working at Hashlamoun Organic farm in the West Bank city of Hebron. -Agencies
Gold above $1,400 as ME violence spreads LONDON: Gold prices rose above $1,400 an ounce on Monday for the first time in nearly seven weeks as violence flared in north Africa and the Middle East, boosting interest in the precious metal as a haven from risk. Tensions have spread across
at LGT Capital Management in Switzerland. "These uncertainties on the geopolitical risk side are driving the gold market." "See how easily gold broke $1,390, $1,395, which were strong resistance levels, and now the $1,400 psychological level," he said. "It seems
the regions from Egypt and Tunisia, where protests have unseated leaders over the past month or so, threatening the grip of long-entrenched autocratic leaders elsewhere. Spot gold rose as high as $1,406.80 an ounce and was bid at $1,406.40 an ounce at 1633 GMT, against $1,388.58 late in New York on Friday. US gold futures for April delivery rose $18.90 an ounce to $1,407.50. Gold priced in euros hit its highest since Jan. 18 at 1,028.94 euros an ounce, and sterling-priced gold its highest since Jan. 14 at 866.65 pounds an ounce. The Libyan uprising is one of a series of revolts that have spread across the Arab world since December, threatening entrenched dynasties from Bahrain to Yemen. "The unrest and the fear in these countries is increasing," said Bayram Dincer, an analyst
nobody is looking for lower gold prices." The protests have pushed gold higher even as interest in investment products like exchange-traded funds stayed soft. Holdings of the world's largest gold exchange-traded fund, New York's SPDR Gold Trust, fell to a nine-month low on Friday at 1,223.1 tonnes, data from the fund showed. Other precious metals also rallied, with silver touching its highest in 31 years and palladium a 10-year peak. Silver outperformed gold, with the number of silver ounces needed to buy an ounce of gold dropping to around 42, a near 13-year low. Silver hit a high of $33.76 and was later at $33.70 an ounce against $32.46. Platinum was at $1,846.90 an ounce against $1,833.50, while palladium peaked at $859 and was later at $856.72 against $848.25. -Reuters
Coffee climbs; sugar edges up LONDON: Robusta coffee futures climbed to a fresh 2-1/2 year high on Monday as the market retained its strong upward momentum, dealers said. Cocoa futures on Liffe rose to 7-month highs as the market eyed the deepening crisis in top grower Ivory Coast. White sugar edged up in a modest rebound after the steep setback in prices during the last couple of weeks. ICE markets were shut on Monday for US Presidents' Day. May robusta coffee stood $49 or 2.1 per cent higher at $2,386 a tonne at 1549 GMT. It earlier peaked at $2,388, the highest level for the second month since July 2008. Cocoa futures rose as tensions in Ivory Coast showed no sign of easing, heightening concern about supply from the world's top grower. Ivorian troops killed at least four protesters calling on Laurent Gbagbo to step down as leader on Monday, witnesses said, as African presidents charged with resolving Ivory Coast's crisis arrived in Abidjan. May cocoa on Liffe was up 16 pounds at 2,279 pounds a tonne after earlier touching 2,297 pounds, the highest level for the second month since July 2010. White sugar futures were slightly higher with the market still keenly awaiting a decision from India on whether to export 500,000 tonnes under Open General License (OGL). May whites rose $2.50 to $723.10 a tonne although prices remained far below a record peak for the front month of $857.00 set on Feb. 2.Reuters
National Commodity Exchange Ltd Trading Summary Date
Commodity
21-Feb-2011 CRUDE100 21-Feb-2011 CRUDE100 21-Feb-2011 CRUDE100 21-Feb-2011 SILVER - SL500 21-Feb-2011 SILVER - SL500 21-Feb-2011 GOLD 01oz 21-Feb-2011 GOLD 01oz 21-Feb-2011 GOLD 01oz 21-Feb-2011 GOLD 100oz 21-Feb-2011 GOLD 100oz 21-Feb-2011 GOLD 100oz 21-Feb-2011 GOLD 21-Feb-2011 GOLD 21-Feb-2011 GOLD 21-Feb-2011 KILOGOLD 21-Feb-2011 KILOGOLD 21-Feb-2011 TOLAGOLD50 21-Feb-2011 TOLAGOLD100 21-Feb-2011 MINIGOLD 21-Feb-2011 MINIGOLD 21-Feb-2011 MINIGOLD 21-Feb-2011 MINIGOLD 21-Feb-2011 MINIGOLD 21-Feb-2011 TOLAGOLD 21-Feb-2011 TOLAGOLD 21-Feb-2011 TOLAGOLD 21-Feb-2011 TOLAGOLD 21-Feb-2011 TOLAGOLD 21-Feb-2011 IRRI6W 21-Feb-2011 RICEIRRI - 6 21-Feb-2011 RBD PALMOLEIN 21-Feb-2011 KIBOR3M 21-Feb-2011 KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 MA11 AP11 MY11 MA11 AP11 MY11 MA11 AP11 MY11 MA11 AP11 MA11 MA11 MON TUE WED THU FRI MON TUE WED THU FRI 24FE11 FE11 FE11 11-Mar 11-Jun
US$ 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
86.60 89.23 93.51 31.84 31.85 1384.00 1384.20 1385.00 1384.10 1384.20 1385.10 38688.00 38225.00 38208.00 38152.00 38405.00 44500.00 44500.00 39210.00 39252.00 39266.00 39280.00 39294.00 46100.00 45996.00 46000.00 45150.00 45766.00 3232.00 3254.00 5449.00 86.20 85.65
89.76 93.62 95.44 33.48 33.40 1403.10 1403.60 1404.60 1401.10 1403.50 1401.40 38688.00 38645.00 38602.00 38547.00 38558.00 44960.00 44960.00 39663.00 39609.00 39662.00 39636.00 39650.00 46239.00 47500.00 46225.00 45567.00 45766.00 3263.00 3286.00 5449.00 86.21 85.66
85.80 88.88 91.56 31.69 31.85 1382.00 1382.20 1383.00 1384.10 1382.50 1385.10 38180.00 38175.00 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 5392.00 86.20 85.65
89.29 93.18 95.09 33.40 33.40 1401.10 1401.40 1402.10 1401.10 1401.40 1401.40 38574.00 38586.00 38602.00 38547.00 38558.00 44960.00 44960.00 39663.00 39609.00 39662.00 39636.00 39650.00 45598.00 45535.00 45551.00 45567.00 45583.00 3263.00 3286.00 5392.00 86.21 85.66
Traded Volume in lots 357 651 16 302 900 3,049 2,494 72 5 26 2 55 25 5 4 -
Previous Settlement Price 87.23 91.27 93.34 33.02 33.00 1396.20 1396.50 1397.20 1396.20 1396.50 1397.20 38493.00 38505.00 38521.00 38465.00 38477.00 44865.00 44865.00 39584.00 39528.00 39542.00 39556.00 39570.00 45505.00 45440.00 45456.00 45472.00 45488.00 3232.00 3254.00 5449.00 86.20 85.65
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 89.29 34 93.18 246 95.09 12 33.40 53 33.40 2 1401.10 567 1401.40 1,092 1402.10 1,284 1401.10 1401.40 7 1402.10 38574.00 6 38586.00 81 38602.00 38547.00 38558.00 44960.00 44960.00 39663.00 39609.00 39662.00 39636.00 39650.00 45598.00 53 45535.00 16 45551.00 8 45567.00 1 45583.00 4 3263.00 3286.00 5392.00 86.21 85.66 -
Wozniacki of Denmark talks during a news conference held for Qatar ladies open in Doha
10
Tuesday, February 22, 2011
MRI clears Sachin injury worries NEW DELHI: Senior Indian batsman Sachin Tendulkar got an injury scare when he experienced uneasiness in his knees, but all doubts soon vanished when MRI scans came out all clear. Tendulkar underwent an MRI scan last night at the Lilavati Hospital. "The MRI scan is clear. There is no problem," a Lilavati hospital spokesperson told PTI on Monday. Sources said the scan was done as a precautionary measure. Tendulkar is likely to fly to Bangalore this evening to join the rest of the team for the Group B match against England on February 27 in the World Cup.-Online
Beckham quits Spurs with a pie & mash dinner LONDON: David Beckham bid farewell to Tottenham Hotspur by treating the club's players and backroom staff to a pie and mash dinner, manager Harry Redknapp said on Monday. Beckham, who is returning to the Los Angeles Galaxy, has been training with Spurs for the past six weeks to get fit for the start of the new Major League Soccer season in the United States. The midfielder left Spurs after training on Monday, but not before ordering in pie and mash, a traditional workingclass London meal. Redknapp teased reporters at the club's training ground when he said: "You don't know what it is. "It's only us Cockneys that know -- I had three actually; I nicked an extra pie. I was brought up on it in the East End, it was fantastic.-Reuters
Roddick goes home with Memphis tennis c’ship MEMPHIS: Andy Roddick won the 30th title of his career with a diving forehand winner to cap a thrilling 7-6 6-7 7-5 win over red-hot Canadian Milos Raonic in the final of the Memphis Championships on Sunday. The top seed ended any chance of a third straight tiebreak by winning the tournament with a diving downthe-line forehand pass into the open court that left him with a grazed arm. "I was very fortunate today," Roddick said after the match during an on-court interview. "I feel like I got outplayed for the better part of two-and-ahalf hours today. I just stuck around and kept trying and that's all I could really do." The 20-year-old Raonic, coming off his first tournament win last week at the San Jose Open, forced a third set be denying the American three match points in the second set. Raonic, who burst onto the scene by reaching the fourth round of last month's Australian Open, had 32 aces in the final and set a tournament record with 129 in total. While his courageous bid to win back-to-back titles fell short, he caught the attention of Roddick. "Really really impressive," said the 28-year-old Roddick. "Coming from an old guy who has seen a lot of players, you have a very bright future and you have a lot to look forward to."-Reuters
CRICKET WORLD CUP 2011
Afridi signs up with Hampshire for T20 LONDON: Pakistan's World Cup captain Shahid Afridi will play for Hampshire in the 2011 English domestic Twenty20 competition, the county said on Monday. All-rounder Afridi was close to joining Hampshire last year before he opted instead to captain the Pakistan test side. "Having played at the Rose
Bowl for Pakistan last year I know it is fast becoming one of the best places in the country to watch cricket," the 30-year-old said in a statement on Hampshire's website. Afridi was named player of the tournament for the inaugural World Twenty20 in England in 2007 and led Pakistan to the title in 2009.-Reuters
No pressure, no problem for SA AHMEDABAD: Australian paceman Brett Lee is congratulated by teammates after dismissing Zimbabwean batsman Charles Coventry (unseen) during their World Cup cricket match at the Sardar Patel Gujarat Stadium.-Reuters
Zimbabwe succumb to Australia’s ‘Italian hand’ Champions Australia put World Cup campaign on fast-track AHMEDABAD: Champions Australia softened up a resolute Zimbabwe with fiery pace and bounce to kick start their World Cup campaign with a resounding 91-run victory on Monday. Australia's speed merchants Brett Lee, Shaun Tait and Mitchell Johnson (four for 19) regularly hit the 145 kph mark to reduce Zimbabwe to 44 for four within 13 overs, from which the African nation never recovered and they were all out for 171. While Lee and Tait resorted to the short pitch stuff, Johnson kept it full and fast to torment the Zimbabwean batsmen. Off-spinner Jason Krejza also chipped in with two wickets after the pace battery had done its job with the new ball -- giving
Australia their 30th consecutive win in the 50-over tournament. Zimbabwe only managed to delay the inevitable with a 44-run fifth wicket partnership and an eighth-wicket stand of 49 runs as the result was well decided within the first 15 overs. Australia were initially tied down by the Zimbabwe spinners before they managed to break free and post 262 for six after opting to bat first. Tangled by a barrage of inspired spin bowling, Australia looked guarded in their approach at the start and needed some powerful hitting at the end in front of a quarter full stadiumin Ahmedabad on a surface which had no demons in it.
BALL TRICKLED Lusty hitting by vice-captain Michael Clarke (58 not out off 55 balls), David Hussey and Steve Smith at the close of the innings ensured Australia went past the 250-run mark. Zimbabwe started with paceman Chris Mpofu and the experienced left-arm spinner Ray Price at the other end and both bowlers managed to keep openers Shane Watson (79) and Brad Haddin under check as they managed a meagre 28 runs in the first 10 overs. Haddin, on 16, was lucky to survive when the ball trickled on to the stumps after hitting his pad, but failed to dislodge the bails.-Reuters
Defying past, Waqar sets eyes down the line HAMBANTOTA: After enough controversy in the last few months to last a lifetime, Pakistan players can finally concentrate on pressing matters on the field when they launch their World Cup campaign on Wednesday. For once the team, which has been in the spotlight almost non-stop since a corruption scandal erupted in England last August, has a low-key engagement when they take on a Kenya side already humiliated
by New Zealand in their first Cup match. As usual, Pakistan coach Waqar Younis was peppered with queries at Monday's news conference ahead of the match about the spot-fixing case -deliberately organised no-balls -- in England which led to the suspension of three of his key players. But the former fast bowler dodged each question and instead preferred to look firmly into the future.
"You can't afford any more controversies, we are just trying to stay away from it," said Waqar, who missed out on the country's 1992 World Cuptriumph as a player due to injury. "It is going to be really tough. But we have seen Pakistan cricket teams in the past couple of decades whenever things are hard and tough for them, they really come out positive as you have seen in 1992.-Reuters
On-line ticketing for the final WC events on DUBAI: On-line tickets sale for ICC cricket world cup 2011 semi-finals and final were launched via the ICC's official ticketing partner Kyazoonga.com. According to a press release, with the demand for tickets for the finale of the ICC's flagship tournament expected to reach record levels, there is sure to be great demand for the proportion of online tickets.-APP
NEW DELHI: South Africa spinner Johan Botha believes seeing India being burdened with the tag of World Cup favourites can work in the Proteas' favour after years of enduring similar expectations. South Africa were widely tipped to clinch the trophy on home ground in 2003, before a calamitous misinterpretation of the rain rule saw them fall to defeat against Sri Lanka in the first round. In the Caribbean four years later, it was old enemy Australia who comfortably prevailed in the semi-finals. "I think in 2003 and 2007 we were favourites. This time there are not a lot of expectations from people back home," said Botha, according to the Press Trust of India. "But within the team we believe we can go all the way in the tournament. So that's nice. We need to get into the knockout round and if we have a few
good games we can end up with the trophy. "Lots of teams are favourites - India, Australia and Sri Lanka are a quality team. We can do our business." Botha will have a key role to play in the tournament where spin is likely to have more penetration than his feared fastbowling team-mates Dale Steyn and Morne Morkel. "In South Africa, seamers take all the wickets and spinners just control the game," said Botha, who was buoyed by a 32 win over India in South Africa in the one-day series in January. "We will take a bit of confidence from that series. We played against world-class batsmen and spinners and it was a great preparation. Personally, it was really good to play and see where my game was. "But we want to be bit more attacking and pick up wickets in the World Cup."-Reuters
RISJA names top body, head ISLAMABAD: Rawalpindi Islamabad Sports Journalists Association (RISJA) has announced its executive body while senior sports journalist Abdul Mohi Shah will act as chairman of the association. According to press release, RISJA office bearers' meeting was held under the RISJA President Abdul Jabbar Faisal which also attended by Vice Presidents Nasir Naqvi, Abid Zahoor Malik, General Secretary Nasir Aslam Raja, Associate Secretaries Haroon Siddiqui, A.M. Malik and Finance Secretary Zahid Yaqoob Khawaja. During meeting RISJA oath taking ceremony, welfare of sports journalists, future activities and other issues were also
discussed The meeting unanimously approved the name of senior sports journalist Abdul Mohi Shah (The News) will act as chairman of association while Faheem Anwer Khan (Nawai-ewaqt) will be head of RISJA executive body. The other members of the executive body are Shahryar Khan (Express TV), Gabrial De Souza (The News), Khalid Qurashi (Nawai-eWaqt), Khurram Shahzad (Daily Times), Shamas Parvaiz (PTV), Jahanzaib Ali (ARY), Abbas Shabbir (AAJ TV), Rizwan Joji (AP), Fida Khan (Sana News), Akhtar Ali Khan (Ausaf), Zubair Manzoor (APP), Raza Abid Mustafa (APNA TV), Afzal Javed (Online) and Bilal Dar (Daily Waqt).-APP
Afridi aims to win all group matches ‘Pakistan has fire & flair to reach semis’ ISLAMABAD: Skipper Shahid Afridi has said that our main aim is to win all our group matches where Pakistan will face Sri Lanka, Australia, New Zealand, Zimbabwe and Canada. "There have been so many upsets in the World Cup in the past, like the one against Ireland four years ago, so we have that in mind and we will be on our toes in every match, be it Kenya or Sri Lanka," Cricket 365 quoted Afridi as saying. The current Pakistan squad has only four survivors from that Irish defeat - Younis Khan, Umar Gul, Mohammad Hafeez and Kamran Akmal but Afridi said no player has forgotten the shattering loss. "It can happen any time if you are not focused, and the defeat against Ireland can never be forgotten. So we
need to be at our best and give nothing to our rivals," said Afridi, who sat out that match due to a ban. Pakistan is likely to rest paceman Shoaib Akhtar in a bid to keep him fresh for the match against Sri Lanka on February 26. That would make way for left-arm paceman Junaid Khan to make his debut who grabbed three wickets against England in a warm up match. Kenya captain Jimmy Kamande vowed to have a different approach against Pakistan, after his team was shot out for a paltry 69 against New Zealand. "Next game, it'll be different opposition and a different approach from us. I would be happy as long as we improve each and every game," said Kamande, whose team reached the semi-final in the
2003 World Cup. "We didn't express ourselves (in the first match). The young boys were nervous. The two young lads who opened (Seren Waters and Alex Obanda) were a bit nervous, but I hope things will change,"said Kamande. The cricket lovers of different cities of Pakistan have expressed indemnity of Pakistan's chances to reach the semi-finals of the World Cup saying our team has the fire and aggression necessary to go all the way. Imran Khan, a student in National University of Science and Technology (NUST), Islamabad, told APP on Monday that Pakistan's chances of reaching till the semis in the World Cup is guaranteed only if they play like a unit without any grouping in the team.
"I don't know why. It's just a gut feeling. Our team faced so much criticism for the trio Salman Butt, Muhammad Asif and Muhammad Aamer - and then the delay in naming the captain. I just think that this time our team will do something big in the mega event." Ayaz Akhbar, a student of Foundation University, Islamabad said,"Pakistan team is an unpredictable one. It just needs unity among them and then no one can stop Pakistan from winning the World Cup." Rameez Hussain, a student of Allama Iqbal Open University, Islamabad said, "I believe our team can go all the way to win the mega event. Our chances are as good as that of India, Australia. "Even if Pakistan loses to Australia, New Zealand and Sri Lanka, Pakistan can reach quarterfinals beating the min-
nows. From there onwards, it's just three games and Pakistan team has the potential to win the three games in a row." Jamil Ismail, a student of Rawalpindi College of Commerce told APP that, "The team is going to be more controversial since the ICC verdict against the trio verdict has hurt its moral and the international media will have their eyes on them with each step they will take." Junaid Akram, a student of Pakistan Institute of Modern Studies (PIMS), Rawalpindi said, "As Pakistanis we surely want our country to win and we will pray for that but apart from Pakistan, Australia is also a good team too". "They have won five out of six games against England. However one cannot rule out Sri Lanka and South Africa.
From quarterfinals, it can be anybody's World Cup," he added. Waqas Hamad, a student of Army Medical College, Rawalpindi told APP that our team has all the guts to reach the semi-finals if they just play like a team, united we stand divided in groups (in the team) we fall. A motor mechanic, Mia Ghani felt that our team will be out from the mega event before the semis. "Our team is mostly new and I don't think they have good chances in the World Cup." The people have given their best wishes for the Pakistan team and has also expressed delight over the `boom boom' Shahid Afridi retaining the captaincy for the World Cup squad saying that he has got all the potential to lead the team for the mega event.-APP
ECB policymakers ratchet up inflation warnings HONG KONG/FRANKFURT: ECB policymakers sent a fresh round of inflation warnings on Monday, as euro zone data showed the region's economic recovery remained robust and likely to keep upward pressure on prices. ECB policymakers have sounded increasingly aggressive on inflation this year since it topped the bank's target of just under two percent. Speaking in Hong Kong, ECB board member Lorenzo Bini Smaghi said the 17-country euro zone was enjoying better-than-expected economic growth, but warned rising prices were becoming a concern and that higher food and energy prices may be something economies have to get used to. "Inflation is higher than expected because of global events. We all have to understand to what extent this higher inflation is due to temporary or a longer underlying phenomenon," he said. "There is pressure on prices of agricultural products and this may not be a temporary phenomenon, it may be a permanent one, the same for energy." Financial markets have been gradually bringing forward the date at which they expect the ECB to start hiking rates. Economists polled by Reuters see it waiting until the final stages of the year although traders and investors see a move as early as the middle of the year. Athanasios Orphanides, another ECB policymaker, struck a similar tone in an interview with the Wall Street Journal on Monday, saying it could not be ruled out that euro zone inflation will stay above the ECB's target of just
under 2 per cent for longer than expected. Fresh data on manufacturing and German sentiment published on Monday backed the central bank's belief that the euro zone recovery remains on firmly on track. Activity in the euro zone's factories and private sector grew faster than expected this month and is pushing up prices, new data showed. German business sentiment also improved in February. The closely watched Ifo index hit a record high, signalling Europe's largest economy is still carrying strong momentum despite recent spending cuts and slower growth elsewhere in Europe. The euro is up more than 6 percent since the ECB's January meeting when it first adopted its sharper tone on inflation. Bini Smaghi has delivered a string of speeches in recent weeks warning that the rise of oil, commodity and food prices is likely to be more than just a temporary spike. On Friday, he said the ECB could use its monetary policy in a pre-emptive fashion to head off inflation and on Monday sent a fresh reminder that the bank had one aim -- to avoid inflation getting out of control. "In our case, we (the ECB) have a clear objective which is to look at inflation and to avoid inflation," he said. The latest comments helped the euro to pare most of its early losses against the dollar in Asian trade on Monday, bolstering prospects that the ECB may raise interest rates before the U.S. Federal Reserve. While the ECB acknowledges nothing can be done to slow fuel, food and commodi-
ty prices, it sees its role as ensuring the rises do not lead to so-called second-round effects like over-inflated wage deals that trigger a wider trend that disrupts the economy. Austrian central bank Governor Ewald Nowotny said in an interview over the weekend that the ECB was watching inflationary developments very closely but that at present there appeared to be no sign of second-round effects. Germany's Bundesbank struck a different tone in its latest monthly report, however. "There are some first signs, above all in the more (cyclically) advanced euro zone countries, that over the course of the year there could be a further strengthening in wage growth and as a result price rises in services and commercial goods," it said, adding it saw inflation at 2 percent or above for much of the year. The ECB's next meeting on March 3 is expected to go a long way in shaping expectations about future rate hikes and the bank's general policy direction. Its 23 policymakers will decide whether or not to resume winding in crisis support measures, while its inhouse economists will update inflation and growth projections for the next two years. Bini Smaghi said he would not comment on whether the ECB would upgrade inflation targets. On the political side, he said reforms needed to be implemented in euro zone countries in which growth was slower, adding that Italy needed to adopt reforms to stimulate growth, and its budget needed further cuts to stabilise debt.Reuters
Japan govt ups economy view on signs lull is over TOKYO: Japan's government upgraded its assessment of the economy in February for a second consecutive month on mounting evidence that export demand and industrial production are pulling the economy out of a lull. The government raised its assessment of exports for the first time in 16 months as shipments to fast-growing Asian countries have recovered from a dip at the end of last year, the Cabinet Office said in a monthly report on Monday. A strong rise in factory output in December also prompted the government to raise its view of industrial production for a second straight month, the report showed. The government warned on energy prices, the report showed, as unrest threatening to topple dictators in the Middle East and North Africa pushes up oil futures prices. "Our assessment is that the economy is showing signs of emerging from a lull, but domestic consumption is a little weak," Economics Minister Kaoru Yosano said. "There's a lot of talk about bubbles forming in emerging markets, but the more immediate concern is the political situation in the Middle East." The government's view of the economy is broadly in line with the Bank of Japan, which upgraded its own assessment last week and kept its ultra-easy monetary policy on hold. "(Japan's economy is) showing signs of picking up and emerging from a lull," the government report for February said. Last month, the government said the economy was at a standstill but showing some signs of picking up. -Reuters
CONTINUATION No #1
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The SC maintained it was mandate of government rather than apex court to take action under Article 6 of the constitution against those who were behind November, 3, 2007 steps. "Some times tough decisions have to be given. Endorsement from parliament was essential in respect of the judges who had taken oath under PCO but the parliament did not endorse them. Parliament did not endorse November, 3, 2007 unconstitutional steps", the CJP remarked. SC senior most judge justice Javed Iqbal observed, "PCO judges position was validated in Iqbal Tikka case. While the court set aside Iqbal Tikka case and SC had made clear all vague things in review decision of Sindh High Court Bar Association Case. Therefore, PCO has lost its position". SM Zafar counsel for SC judge Syed Zahid Hussain took the plea in the inception of hearing that 4-member bench of SC had not laid down reasons in February, 2 verdict. "We will be able to give arguments if court gives reasons", he said. Justice Shakirullah Jan observed it was interim decision. The hearing of the case be adjourned till the announcement of detailed verdict, SM Zafar contended. -Agencies
No #2
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Investigations were underway and whatever decision would be rendered by court would be acceptable, he underscored. "I can purchase two more vehicles like this", he added. About former DG Hajj Rao Shakil he said Rao Shakil was under arrest and he had not even mentioned my name during investigation. "I have no terms of any sort with Rao Shakil, he told. Hajj corruption case had come to open during Hajj operation last year. Former federal minister Azam Swati had leveled allegations of corruption against former minister for religious affairs Hamid Saeed Kazmi. Supreme Court (SC) had assigned task to FIA to investigate the case. Due to expression of mistrust by SC, the then DG FIA Waseem Ahmad was dropped from investigation and Additional DG FIA, Javed Bukhari was appointed as head of the investigation team. Certain persons including Hamid Saeed Kazmi and Zain Sukhera were accused in Hajj corruption case. Abdul Qadir Gilani son of Prime Minister Gilani was also alleged to have purchased bullet proof vehicle worth Rs30 million out of Hajj corruption money. Therefore SC had ordered investigation by FIA in this case. -Online
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Commenting on the deadline given by PML-N, Babar claimed that PPP never gave any deadlines nor does it accept any. Babar Awan urged that Chief Minister Punjab should fulfill promises regarding the 19 points reforms agenda of the PPP Punjab Parliamentary Party. PPP have given two names for the implementation of said agenda which includes Tanveer Ashraf Kaira and Ashraf Sohna, he added. Addressing the press conference, Raja Riaz said chief minister Shahbaz Sharif did not take the issue pointed out by them that is why PPP has decided to present its 19 points agenda in the federal committee which is constituted for the implementation of PML-N's ten-point agenda. -Agencies Commenting on the deadline given by PML-N, Babar claimed that PPP never gave any deadlines nor does it accept any. Babar Awan urged that Chief Minister Punjab should fulfill promises regarding the 19 points reforms agenda of the PPP Punjab Parliamentary Party. PPP have given two names for the implementation of said agenda which includes Tanveer Ashraf Kaira and Ashraf Sohna, he added. Addressing the press conference, Raja Riaz said chief minister Shahbaz Sharif did not take the issue pointed out by them that is why PPP has decided to present its 19 points agenda in the federal committee which is constituted for the implementation of PMLN's ten-point agenda. -Agencies
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International & Continuation
Tuesday, February 22, 2011
No #3
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Commenting on the deadline given by PML-N, Babar claimed that PPP never gave any deadlines nor does it accept any. Babar Awan urged that Chief Minister Punjab should fulfill promises regarding the 19 points reforms agenda of the PPP Punjab Parliamentary Party. PPP have given two names for the implementation of said agenda which includes Tanveer Ashraf Kaira and Ashraf Sohna, he added. Addressing the press conference, Raja Riaz said chief minister Shahbaz Sharif did not take the issue pointed out by them that is why PPP has decided to present its 19 points agenda in the federal committee which is constituted for the implementation of PML-N's ten-point agenda. -Agencies
No #4
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In his briefing, in which he called Kasab "a monster" and "a demon" and also threw in a couplet to loud applause, Nikam said that Kasab frequently attempted to misguide the prosecution and investigators, changed his statements at regular intervals and even pleaded for a life term at the fag end of the trial. "However, nothing worked and we managed to foil all his designs. The Bombay High Court has upheld our plea, terming it as 'the rarest of rare cases' and retained the death verdict by the lower court," Nikam said. Expressing his happiness at the outcome, Nikam said the "monster" who was involved in the Nov 2629, 2008, Mumbai terror attacks, in which 166 people were killed and over 230 injured, has been brought to justice. Nikam also said he would recommend appealing against the acquittal of his two Indian co-accused Fahim Ansari and Sabauddin Ahmed by the court Monday. -Agencies
No #5
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He urged countries to reduce malicious capital flows that are aimed at arbitrage on international levels and has the potential of pushing up global inflation. He said China will sustain an active fiscal policy and a prudent monetary policy through 2011 and continue to make economic structural reform in a bid to transform its model of economic growth. Finance Ministers and Central Bank Governors also reached a compromise to correct global economic imbalances. India stresses for a coordinate approach to tackle food commodity and price rise vitality which would make emerging economies vulnerable. -APP
No #6
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Interior, Senator Rehman Malik and Minister of State for Foreign Affairs, Hina Rabbani Khar who called on him at Prime Minister's House Monday afternoon. Earlier, while chairing the parliamentary meeting of the PPP and allies PM Gilani reiterated the PPP-led government's resolve to continue the policy of reconciliation and avoiding confrontation. After the meeting, Minister for Information and Broadcasting Dr Firdaus Ashiq Awan told the newsmen that the Prime Minister took the allied parties into confidence about the overall economic situation of the country, particularly the ongoing negotiations with PML-N and other parties' committees for economic reforms. She said the Minister for Law, Justice and Parliamentary Affairs and Finance Minister briefed the parliamentary party meeting about the progress in negotiations with the PML-N committee as well as their concerns with regard to economic issues. The matter of 45-day deadline was also discussed, she said, adding the Prime Minister told the meeting that during his meetings with the PML-N leadership, they did not talk about any deadline. The Minister for Information and Broadcasting further said that the meeting also discussed the overall economic situation in the country, adding, major economic indicators were moving in positive direction. She in this respect referred to the country's exports which are expected to cross $ 22 billion, remittances to touch $10
German business morale hits record this month BERLIN: German business morale rose to a record high in February, its ninth consecutive increase, signalling a strong rebound in Europe's dominant economy still carries momentum despite spending cuts and slower growth abroad. The Munich-based Ifo think tank said on Monday its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.2, confounding expectations in a Reuters poll of 43 economists for a flat reading of 110.3. "(Ifo is) reaching for the stars. German business confidence surprised once again and continued its impressive performance of the last two years, increasing to another new record high," said Carsten Brzeski after the release of the data. The reading was the highest since records began in a reunified Germany in 1991, briefly boosting the euro and -- in combination with a betterthan-expected private sector activity in Germany and the euro zone -- lifting European shares higher. "Looking ahead, after its winter dip, the German economy should return to abovetrend speed very soon. Due to the well-balanced export mix, foreign trade will remain an important growth driver," Brzeski added. The robust outlook for
German businesses abroad despite the depressed economic picture in parts of Europe contrasted sharply with the troubled political landscape facing Angela Merkel. Perceptions Germany's chancellor is failing to defend her country's financial interests in the euro zone have helped fuel widespread voter dissatisfaction, culminating on Sunday in a worst election defeat in decades for her conservative party. The scale of the loss in the state vote in Hamburg could reverberate in six more elections later this year and, analysts said, could prompt Merkel to take a tougher line in future negotiations with her European partners. Earlier on Monday a purchasing managers' survey showed record growth in Germany's manufacturing industry drove strong expansion of its private sector in February. Focus has been on whether Germany's economy can maintain momentum after last year's strong rebound that appeared to have lost some momentum in December when cold winter weather hit. Data this month showed German industry orders and output fell in December but economists said this was a blip partly due to cold weather and
that the recovery remained on track. Ifo said, exporters, traditionally the backbone of the economy, expected even stronger impulses going forward. Emerging economies like China have helped exports from Germany, pushing unemployment down, and outweighing a slowdown in euro zone trading peers, such as Ireland, Portugal and Greece, which have to rein in deficits to fight a debt crisis. Ifo economist Klaus Abberger told Reuters the German economy was in top form and that only a major downturn abroad could slow it down. He added such a downturn was not on the horizon. A subindex on current conditions rose to 114.7 from 112.8 and another on expectations ticked higher to 107.9 from 107.8 in January. All January figures were unrevised. Reflecting that strength, drugs and chemicals maker Merck on Monday predicted 35-45 percent increase in operating profit for 2011 after posting lower-than-expected fourth-quarter operating profit. Capitals around Europe have also been watching closely whether Germany's domestic demand is picking up and consumers begin to spend again, saying that Germany's growth came at the expense of others in the euro zone.-Reuters
billion and foreign exchanges reserves already crossing $17 billion. -Agencies
No #7
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during Governor Rule and still steadfast on the decision. He said that the Army is responsible for defense of country's borders not politics. He said that Raymond Davis would have already been released if Pervez Musharraf were ruler of the country. Nawaz Sharif further said that Interior Minister Sindh Zulfiqar Mirza's statement was non-parliamentarian and indecent and if he does not apologize for that then it could cause suspension of the ongoing negotiation with the government. He said that Pakistan is confronted with chaotic situation and PML-N does not want anarchy in the country. He said that a revolutionary team is being formed to steer the country out from all sort of problems. He said that the economy of the country would be strengthened. He said that series of foreign aids and charity would have to finish as beggars can never stand on their feet. Furthermore, PML-N and government economic negotiations teams would meet for final and decisive round of talks in Ministry of Finance on Tuesday (today). Government team will brief the PML (N) team regarding development on PML (N) 10-point agenda. PML (N) leaders said that control over inflation; report of Judicial Committee on sugar scandal, recovery of Rs96 billion, independent Election Commission, implementation on apex court decisions, reorganization of government institutes, cut in governmental expenditures, control over budget surplus and new method to control the petroleum products will be part of the discussion of today meeting. -Agencies
No #8
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which plans to build 20 new nuclear power plants by 2020. The President said Pakistan never wanted to go nuclear but it was forced to do so when arch rival India detonated a nuclear device in 1974 and again in 1998. He denied a recent newspaper report that the number of nuclear weapons possessed by Pakistan exceeds that of India, saying, "There is always a difference between facts and fantasy." Asked if Pakistan seeks to expand its nuclear arsenal, the president said his government does not want to see an arms race in the region and advocates a nuclear-free South Asia. During his visit to Japan, Zardari is scheduled to hold talks with Prime Minister Naoto Kan and meet with Japanese business leaders and companies doing business with Pakistan. He said he will strive to make the people and government of Japan aware of Pakistan's situation and the challenges it faces. President Zardari projected Pakistan as a destination for Japanese investment, calling on Japanese investors to make use of proposed economic zones in his country. He urged leading Japanese automakers with assembly plants in Pakistan, which exclusively cater to the local market, to export locally made vehicles to markets in Asia and Africa. There is also great potential for bilateral cooperation in the services industry, he added. He further said that Pakistan is playing vital role in war against terrorism and has rendered great sacrifices in this connection while the international community is appreciating the Pakistani role. President Zardari said that the international community has to make joint efforts to combat terrorism because the whole world is threatened by terrorism. He said that Japan played important role in accomplishment of different projects in Pakistan including Indus Highway, transportation in rural areas, Children hospital Islamabad, Kohat Tunnel and Ghazi Brotha dam. He said that both countries have celebrated 50 successful years of diplomatic ties in 2002, which further strengthened the ties. He said that more than 10,000 Pakistanis are working in Japan while more than 1000 Japanese are working in Pakistan. He said that Business Council between Pakistan and Japan was set in 2001. He said that Pakistan wishes strengthen bilateral ties with Japan in economy and trade. -Agencies
No #9
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SRO 112(1)12011 dated February 11, 2011 were also discussed. The FBR has shown concern over the non-filing of Capital Gains Tax Quarterly Return by a few of the companies and requested the Karachi Stock Exchange to extend assistance in this respect.
No #10
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but these departments have failed to clear them despite repeated contacts. -Online
No #11
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Minister Gilani to keep in tact the prices of petroleum products in the month of February, thus government had to sustain loss of Rs7.50 billion. Sources told Online that petroleum ministry officials had described the increase in prices inevitable in the wake of prevailing situation and increase in petroleum product prices in international market. The ministry has decided to evolve summary in this regard whereby the prime minister will be requested to raise the prices of petroleum products from Rs10 to Rs13 per liter. Sources told as per recommendations of ministry, price of petrol would likely to be scaled up by Rs10.97 per liter, high octane Rs13.46 per liter, kerosene oil Rs9.96 per liter, high speed diesel Rs11.99 per liter and light speed diesel Rs12.22 per liter. On the other hands PSO has deferred tenders floated for importing petroleum products and financial constraints were stated to be main reason behind this deferment. All the other sectors including power sector have to pay outstanding arrears of Rs158 billion to PSO. -Agencies
No #12
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Optimism surrounding the brightening prospects for economic growth and robust corporate earnings in the developed markets has prompted foreign investors to choose them over markets such as India, where corruption and inflation issues have checked gains. Earlier in the day, President Pratibha Patil said in her address to parliament the government will battle both inflation and corruption, confronting the two biggest issues that have rattled the Congress-led government and paralysed policymaking. Energy giant Reliance Industries which has the highest weight on the main index, closed 2 per cent higher. BP Plc agreed to buy a 30-per cent stake in 23 oil and gas blocks owned by Reliance Industries for $7.2 billion, the two companies said after market hours. "It is a big positive for Reliance Industries. They will have enough funds for the ramp up for their exploration and production plans." said R.K. Gupta, managing director of Taurus Mutual fund. "Reliance stock should gain at open tomorrow and should pull up the broader market as well."-Reuters
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Apex court seeks govt stance on PCO judges
Jul 31 act blocks dictatorship: SC ISLAMABAD: Chief Justice of authored by Justice Javed Iqbal and past which will never happen again. Pakistan, Iftikhar Muhammad contained two additional notes of Had our superior judiciary followed Chaudhry Monday, during proceedings Justice (Retd) Sardar Muhammad Raza the path of non-PCO judges, the course on appeals of a number of dysfunction- Khan and Justice (Retd) Rahmat of Pakistan's political and judicial hisal judges, asked the mediamen present Hussain Jafferi. tory would have been different. in the court-room to reproduce a releThe pleas were heard by larger The verdict was appreciated by all vant para in their reports from a deci- bench, headed by Chief Justice of segments of society for being issue-orision authored by Justice Javed Iqbal on Pakistan Iftikhar Muhammad ented rather than individual specific a set of review appeals over annulled Chaudhry. and therefore, no individual including provisional order of 2007 in which he The relevant para 55 said, "In fact the the petitioners should be aggrieved. termed the July 31, 2009 decision as 'a judgment impugned has been considThe judgment impugned would stinging negation of dictatorship'. ered in the country as well as on global encourage future justices to take the Chief Justice referring to a recent level as a triumph of democratic princi- firm stand against usurpers. The judgreport of 'The Economist' about ples and a stinging negation of the dic- ment impugned being in the supreme LORALAI: Chief of Army Staff General Ashfaq Pervez Kayani addressing during Pakistan judiciary said that the same tatorship. It is the first instance of the national interest hardly needs any justithe inauguration ceremoney of Kasah Marble Project in Loralai.-Online portion of judgement over the issue Supreme Court stating in a categoric, fication for review." should have also been quoted in the loud and abundantly clear manner that Meanwhile, Supreme Court of Would not quit from Punjab Govt: Awan report. military interventions are illegal and Pakistan has sought government's The 14-member larger bench of the will hardly find any colluder in future stance on the legal position of PCO Supreme Court had declared all steps within the judiciary. judges. of former president Pervez Musharraf The impugned judgment provides A 7-member SC special bench as unconstitutional on July 31 and much needed redress as it will render presided over by the Chief Justice of subsequently in short order of considerable help in blocking the way Pakistan (CJP) Iftikhar Muhammad October 13, 2009. of adventurers and dictators to creep in Chaudhry took up for hearing Monday The detailed judgment was released easily by taking supra constitutional inter-court appeals with regard to its steps endorsed, supported and upheld February,2 verdict against PCO judges. ISLAMABAD: Finance minis- on Jan 26, last year. The 87-page detailed verdict was under the principle of necessity in the See # 1 Page 11 ters of the world's 20 wealthiest ISLAMABAD: Federal Minister for of Feb 25 while from our side we have economies has assessed during Law and Justice Dr Babar Awan said given no deadline. We are not bound to a wrap up of two-day G-20 that PPP would not quit from the any political party. meeting in Paris that the global Punjab government itself and we do He said federal government is workeconomic recovery is strengthnot believe in deadlines. ing over agenda of the welfare of the ening but it is still uneven and ISLAMABAD: Abdul Qadir Gilani, son of Prime Minister Syed Yousuf Raza Gilani has appeared before FIA investiAddressing a press conference along people and establishing good govergation team led by Additional Director General (ADG) Javed Bukhari in bullet proof vehicle purchase case in Hajj scam. with senior provincial minister Punjab nance including the 10-point agenda downside risks. ADG FIA asked several questions from Abdul Qadir Gilani with regard to purchase of bulletproof vehicle valuing Delegates also expressed Raja Riaz at his residence on Monday of PML-N. Rs30 million and had provided him a formal questionnaire in this case whereby he had been asked to provide different concern about the nearly thirty Babar Awan said he is deeply sadHe said agenda of poor people documents and evidence about purchase of vehicle. dened by the statements of Chief would be further strengthened and pol- per cent hike in basic food Talking to media men later Abdul Qadir Gilani said he had appeared before FIA team as a common man rather than Minister Punjab Shahbaz Sharif itics of turncoats would not allow to be prices just the last year as posing threat to emerging econom- member of provincial assembly (MPA) and had proved that rule of law prevailed in the country. regarding ousting PPP from power in succeeded in Punjab. "The vehicle which is being cited has been obtained by me through fair means. I have not got it through smuggling. Punjab. He said PML-N wanted to take ics, private news channels My father and PPP have served jail terms for the sake of restoration of judiciary. My father issued executive order for He said that smaller provinces' rights democracy toward the Miani Sahab reported. Finance Ministers and revival of judiciary", he underlined. A PML-N member of parliament, Imran Shah had given statement to FIA against have been denied by such statements. graveyard whereas PPP government him, which was false and unfounded", he added. "I am grieved over such allegations", he held. He said that if such statements are believes in the politics of reconcilia- Central Bank Governors have See # 2 Page 11 made than a reaction is imminent. tion. He added that discussion with reached consensus on several indicators to monitor global Babar Awan said country needs seri- PML-Q is in progress. ous politics, added his party is in diaBabar Awan said PML-N is itself economic imbalances. A communiqué released after logue with PML-N and we would not violating Charter of Democracy (CoD) part ways with Sharif govt on our own. by horse-trading in Punjab. the meeting said that the G-20 countries agreed on a set of He said PML-N has given deadline See # 3 Page 11 indicators that will allow them to focus through an integrated two-step process, on those persistently large imbalances which required policy actions. In April the second Finance Ministers meeting under the French G-20 presidency is to take place in the United States. Chinese Finance Minister, Xi Xuren has called for major economies to continue to NEW DELHI: Indian President Pratibha an abiding interest in peace, stability and strengthen cooperation on Patil has said that the Government would development of countries in our extendinternational economic issues seek a peaceful resolution of all issues ed neighborhood. and maintain the stability of Egypt has recently seen momentous with Pakistan through talks as long as it main reserve currencies. does not allow its soil to be used for ter- developments. As a democracy ourSee # 5 Page 11 selves, we welcome the dawn of democror activities against India. "With Pakistan, we seek a peaceful res- racy elsewhere." 1Noting that the Government has olution of issues through a meaningful dialogue so long as Pakistan does not broadened India's economic and political allow its soil to be used for terrorist activ- relations with the countries of Gulf, ities against India," PTI quoted her as West, Central and East Asia, she said saying on Monday in her address to a India is now a party to the TurkmenistanAfghanistan-Pakistan-India Pipeline joint sitting of Parliament. The government's foreign policy prior- project which could "potentially transity remains promotion and creation of an form the energy scenario in this subenvironment that is conducive to the region''. Observing that many Indians are worksocio-economic transformation of India, ing in the Gulf and West Asia and makshe said. The "The pursuit of peace, shared prosperi- ing valuable contributions to these coun- SHEIKHUPURA: ty and regional cooperation within the tries, Patil said: "We will continue to daughter-in-law of Governor Indian sub-continent and in our extended work for the welfare of our diaspora Punjab Latif Khosa has died neighborhood will continue to guide my whose contributions to India we appreci- in a traffic accident near ate and whose links we will foster." - Sheikhupura government's efforts," Patil said. Motorway Regarding Egypt, she said: "We have Online Interchange here Monday. As per media reports, daughter-in-law of Latif Khosa and wife of Khurram Latif Khosa, Advocate Hina was traveling from Islamabad to Lahore along with her sister Sana, when tyre of her vehicle busted near Sheikhupura Motorway Interchange and car turned turtle. MUMBAI: The Bombay High Court through a video link wearing a white Hina Advocate died on the Monday upheld the death sentence of kurta with his head down. spot whereas her sister Sana Ajmal Amir Kasab for his involvement Kasab and his accomplices went on a received severe injuries. The in the 26/11 Mumbai terror attacks that shooting spree at various city landleft 166 people dead. marks including CST railway termi- injured woman was shifted to A division bench of the court com- nus, iconic Taj Mahal and Oberoi district headquarter hospital prising justices Ranjana Desai and R V Hotels, Leopold Cafe, Cama Hospital Sheikhupura. Hina Advocate was driving More also dismissed the Maharashtra and Nariman House, a Jewish outreach government's petition against acquittal centre, leaving 166 dead and many the car and there was no security guard and driver with her of two Indians, Faheem Ansari and more wounded. Sabauddin Ahmed, accused of aiding Meanwhile Special Public at the time of accident. Hina Advocate was the secthe commission of the crime. Prosecutor Ujjwal Nikam said here Kasab, 24, the only one of the 10 per- "This is a victory of justice and defeat ond wife of Advocate petrators of the attack to be captured of drama by Pakistani terrorist Kasab". Khurram Latif Khosa and alive, was sentenced to death by a speSpeaking to media persons, a beam- they had got married on May cial anti-terror court on May 6 last ing Nikam said that "the storm of terror 17, 2010 in Sialkot. year. unleashed by Kasab and his accomShe was living in Township Ansari and Ahmed had been, howev- plices has finally ended" and there area of Lahore, the family and er, let off for want of adequate evi- would be mourning and breast-beating relatives of the deceased Hina dence by the trial court. in the camps of his handlers. Advocate reached in hospital Kasab appeared briefly in the court See # 4 Page 11 after the accident. -Online
‘N’ accused of horse-trading
G20 voices concern on slow recovery
PM's son appears before FIA
Want peaceful resolution of issues: Pratibha
Shun terror for talk, India to Pak
Governor Punjab’s daughter in-law dies in road mishap
Mumbai Terror Attacks
Kasab’s death penalty upheld
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