International Karachi, Thursday, January 27, 2011, Safar-ul-Muzaffar 22, Price Rs12 Pages 12
Qaeda under pressure in Pakistan: Obama
Pak needs nat'l govt: Musharraf Pir Karam becomes GB Moscow says Bomber trained in Pak
See on Page 12 See on Page 12 See on Page 12
See on Page 12
Cabinet approves Optional Protocol for Child Right Convention
Economic Indicators Forex Reserves (15-Jan-11) Inflation CPI% (Jul 10-Dec 10) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Dec 10) Remittances (Jul 10 - Dec 10) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
$17.28bn 14.61% $10.98bn $19.13bn $(8.15)bn $26mn $5.29bn $1.05bn Rs 638bn $58.41bn Rs 5348.6bn $323.6mn -4.69% 4.10% $1,051 174.99mn
5-yr-old autos import greenlit PM Gilani to decide Cabinet-size-cut, says Shaikh Defense pact with Indonesia, eco-deal with Korea ratified
Portfolio Investment
Special Correspondent/ Agencies
SCRA(U.S $ in million)
196.07 0.68 -1.03 3065
Yearly(Jul, 2010 up to 25-Jan-2011) Monthly(Dec, 2010 up to-25-Jan-2011) Daily (25-Jan-2011) Total Portfolio Invest (21 Jan-2010)
NCCPL (U.S $ in million)
FIPI (26-Jan-2011) Local Companies (26-Jan-2011) Banks / DFI (26-Jan-2011) Mutual Funds (26-Jan-2011) NBFC (26-Jan-2011) Local Investors (26-Jan-2011) Other Organization (26-Jan-2011)
4.42 -3.97 1.59 -3.21 -0.02 -2.79 3.97
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,483.34 10,401.90 23,843.24 18,969.45 2,708.81 2,715.29 5,985.24 12,007.08
Change 27.59 62.52 54.41 181.83 31.38 37.64 67.53 29.89
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 111.46 18.76 160.85 2.00 42.87 1.70 36.44 11.28 38.69
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
26-Jan-2011 26-Jan-2011 26-Jan-2011 29-Nov-2010 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011
13.67% 13.71% 13.88% 14.00% 13.36% 13.64% 13.76% 14.09% 14.20% 14.19% 14.20% 14.20% 14.61% 14.81% 14.98%
Commodities *Crude Oil (brent)$/bbl 96.63 *Crude Oil (WTI)$/bbl 86.47 *Cotton $/lb 166.83 *Gold $/ozs 1,330.80 *Silver $/ozs 26.78 Malaysian Palm $ 1,202 GOLD (NCEL) PKR 37,088 KHI Cotton 40Kg PKR 11,360
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 85.50 Canadian $ 85.90 Danish Krone 14.00 Euro 117.20 Hong Kong $ 10.90 Japanese Yen 1.031 Saudi Riyal 22.90 Singapore $ 66.80 Swedish Korona 12.00 Swiss Franc 86.00 U.A.E Dirham 23.40 UK Pound 135.75 US $ 86.20
Sell (Rs)
86.50 86.90 14.70 118.70 11.00 1.057 23.10 67.80 12.10 86.60 23.60 137.50 86.55
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
85.44 86.00 15.74 117.34 11.01 1.044 22.87 66.95 13.16 91.02 23.35 135.57 85.74
85.64 86.20 15.78 117.62 11.03 1.047 22.92 67.11 13.19 91.23 23.40 135.88 85.92
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
20°C 26°C 21°C 21°C 14°C 20°C
MIN
2°C 12°C 3°C 3°C -7°C 2°C
Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
DAVOS: Former UNGS Kofi Annan, Chief Executive, IISS John Chipman, the President and CEO of ICG and the General Secretary of the Arab League Amre Moussa talk prior to the start of the 'The Security Agenda in 2011'. -Reuters
David Lipton calls on Dr Hafeez Shaikh
US experts hear out Pak reforms ISLAMABAD: Senior adviser to US President and Senior Director for Economy, David Lipton along with a delegation of officials Wednesday met with the Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh here in the ministry of finance. The Advisor and his team were given a detailed briefing on the midterm economic review through a presentation. The Pakistani-side advised the visiting delegation of the various measures, political and economic, which include the constituted Parliamentary Party's parleys with all the political parties in the Parliament on the emerging national issues as well as the
Agritech Merger
FFC gets CCP's half-nod ISLAMABAD: The Competition Commission of Pakistan (CCP) on Wednesday issued its conditional no objection to the bidding by Fauji Fertilizer Company Limited (FFC) for the proposed acquisition of 75 per cent to 79.87 per cent shares of Agritech Limited. The FFC had submitted its pre-merger application on August 2, 2010 for the acquisition of 75 to 79.87 per cent shares of Agritech Limited. The Commission intimated FFC vide its letter dated August 12, 2010 that Commission has decided to move the case to Phase 2 Review, with the view to determine whether the merger situation is likely to substantially prevent or lessen competition in the market and to See # 11 Page 11
New Afghan MPs sworn in KABUL: Afghan President Hamid Karzai inaugurated parliament on Wednesday, ending weeks of political infighting, but took a dig at the West saying "foreign interference" had been a serious problem. Western diplomats called the event a "big day" for Afghanistan, but the comments exposed the often frayed ties between Karzai and his backers and in private officials warned of a bigger battle ahead between the president and his new parliament. Afghanistan's government was plunged into political crisis last week when Karzai decided See # 12 Page 11
economic matters. On the economic-side the recommended measures were also apprised to the Advisor including, cut in the overall federal and provincial expenditure, due to which the budget deficit has lowered from 3.2 to 3.0 per cent. During the course of the presentation, it was also noted that the exports will cross $20 billion or $22 billion and work force remittances will touch $10 billion this year. Recommended measures for the improvement of the economy and to put it on a developing track, mentioned the revival of the IMF programme for which Pakistani side is having parleys with political forces in
the country. The foreign inflows at the moment are waiting for the passage of the IMF programme, and this will ease the pressure on domestic borrowings. The measures the government is taking include improved budget management, deferring subsidies on fertiliser and restricting it to Rs30 billion for Railways and rationalisation of tariff subsidy. Ban on fresh recruitment is also undertaken by the government and reduction of travel of the officials of the government functionary and limitation of the POL, they were told. Among others from the Pakistani side who attended the See # 9 Page 11
Hina urges Parliament to assist govt
MPs help sought to broaden tax net ISLAMABAD: State Minister for Finance Hina Rabbani Khar Wednesday sought help of the parliamentarians for expending tax network in the country. Talking on the point of order, she said "Parliamentarians' support is necessary for expansion of tax network in the country as it will help in improving the economy of the country." She informed the House, Federal Board of Revenue (FBR) had recently conducted a survey which reveled that only 65 per cent traders in 34 markets were paying tax. She said documentation of economy is imperative to expand the tax network. The minister said due to steps taken by the government the number of tax-payers had been increased from 2.5 million to 3
million. "Number of tax payers were 2.5 million in 2008-9 now this numbers have increased to 3 million due to measures introduced by the government", he added. Hina Rabbani Khar said notices have been issued to traders who have not submitted self assessment tax return. He said the traders earning Rs5 million are bound to submit self assessment tax return. The minister said out of 10000 traders only 3531 traders have filed their tax return in Karachi market. She said the government will take action against the traders who have showed less income in the tax return. Hina Rabbani was of the view that without improving See # 10 Page 11
CY10: Urea slips 5.5pc, DAP down 22.1pc
Last yr, fertiliser offtake took fall Aamir Abidi KARACHI: Fertiliser numbers recently released by National Fertilizer Development Centre (NFDC), depicted decline in the outgoing calendar year 2010 against pervious year's same period mainly because of catastrophic floods and gas curtailment. Urea offtake dropped 5.5 per cent YoY to 6.12 million tonnes recorded in CY10 against 6.47 million tonnes of identical period of last year. Similarly, Diammonium phosphate (DAP) offtake remained weak in the
outgoing year with the industry witnessed decline of 22.1 per cent on YoY basis. DAP sales stood at 1.32 million tonnes against 1.69 million tonnes in CY09, however, DAP offtake significantly surged 211 per cent HoH to 996k tones in 2HCY10 compared with 321k tons in 1HCY10. Urea retail price was recorded at Rs921 per bag in December 2010, showing an upsurge of 16.6 per cent YoY against Rs790 per bag recorded in December 2009. Likewise, DAP retail price See # 8 Page 11
ISLAMABAD: Federal Cabinet on Wednesday allowed import of five-year-old used vehicles to bring the rising prices of cars in the country within the reach of common man. The decision was taken in a meeting of the Federal Cabinet, chaired by Prime Minister Syed Yousuf Raza Gilani that took into account the complaints of a sharp hike in the prices of locally manufactured cars. "The Cabinet decided to approve the import of five-year old used cars," Information Minister Qamar Zaman Kaira said while briefing reporters on the decisions. He clarified that the Prime Minister never overruled the Cabinet decision to allow import of used cars. He added that the Prime Minister had postponed the decision till the next meeting of Cabinet and the reports in media that earlier
Shaikh says agenda talks on right path ISLAMABAD: Federal Minister for Finance Dr Abdul Hafeez Shaikh here Wednesday said that negotiations on national economic reforms agenda were heading in right direction resulting in the economic revival of the country. Talking to media after the third round of dialogue between the parliamentary committees of the government and Pakistan Muslim League (N), he informed that price control mechanism committee comprising the chief secretaries of the provinces would meet today and submit its suggestions to the government. Besides he said that the suggestions and the proposals of the petroleum price committee are being finalised, adding a judicial commission headed by a judge of Supreme Court or High Court has been formed to find out the reasons of sugar price hike in the country. Governor State Bank of Pakistan (SBP) Shahid Hafeez See # 7 Page 11
NICL scam
FIA summons Monis Elahi ISLAMABAD: Federal Investigation Agency has issued summon to Monis Elahi, son of former chief minister Punjab Parvez Elahi, for investigation in National Insurance Company Limited (NICL) case, media reported. Monis was allegedly involved in facilitating one of the land deals of the NICL scam. Sources said the name of Monis Elahi came to light during an investigation into the NICL scam and some members of Waraich family informed the FIA investigators that Monis had facilitated the purchase of 20-kanal land near the airport. -Agencies
decision had been overruled, were totally incorrect. The Cabinet also endorsed decisions taken by the meeting of Economic Committee of the Cabinet. The Finance Minister briefed the Cabinet on his meeting with the Opposition regarding the state of economy. He stated that the cabinet had decided to observe Kashmir solidarity day with enthusiasm on February, 5. Responding to a question he said prime minister would decide about the future of ministers. Prime Minister would take any decision about reduction in cabinet after consultation with allied parties, he pointed out. Time had come to stamp out menace of terrorism, he said, adding armed forces had broken the back of central leadership of terrorists. Government alone could not achieve success in war on terror, he underlined. No proposal was under consideration to ban recruitment in government department nor
was government considering privatising national institutions. However decision had been taken to restructure them, he indicated. During first phase, restructuring of railways, steel mills and PEPCO would be carried out, he told. The Cabinet also condemned blasts in Lahore and Karachi on Tuesday and prayed to Allah Almighty to shower His blessings on those, who had lost their lives. The Cabinet also paid rich tributes to the armed and security forces, which were bearing the brunt of terrorist attacks and were rendering numerous sacrifices to protect their citizens. Meanwhile, briefing the media afterwards, Minister for Information Qamar Zaman Kaira said that federal cabinet ratified and gave its approval for the Optional Protocol to the Convention on the rights of the Child; the Sale of Children, Child Prostitution and Child Pornography. See # 13 Page 11
Rekodiq case
CS B'stan asked to enlighten SC ISLAMABAD: Supreme Court of Pakistan Wednesday summoned serving Chief Secretary Balochistan besides, former Chief Secretary, to appear with relevant record on Rekodiq copper and gold mining project. A four-Judge bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalil-ur Rehman Ramday expressed displeasure over provincial government officials' attitude in submitting relevant record over the project especially the 1992 licensing issue of BHP, an Australian company. Chief Justice addressing to additional Advocate General Balochistan Ataullah Mengal remarked that they were hearing such an important issue but the concerned party was not submitting the required documents. He directed him to ask serving and former chief secretaries of the province to remain in presence during proceedings with relevant record. Chief Justice also hinted to
decide the issue before February 11, as petitioners was claiming that the provincial government could finalise contract with the Tethyan Copper Company (TCC). He said the whole stakeholders including Federal, provincial government and others were waiting for a decision. Khalid Anwar, counsel for TCC, apprised the bench that the impression of February 11 was given wrongly as the TCC would be applying for the license before February 19. He said that they would present all details before the bench. At the outset of proceedings, Raza Kazim, counsel for Maulana Abdul Haq a petitioner, appeared and said that his allegations were about irresponsibility and laziness shown during execution of the contract. He said under Article 173 of the Constitution, the responsibility must be achieved by assigning someone a task but here the concerned authorities spoiled everything. See # 5 Page 11
Hunger looms large in Sindh ISLAMABAD: Sindh province, hit hard by last year's floods, is suffering levels of malnutrition almost as critical as Chad and Niger, with hundreds of thousands of children at risk, UNICEF said on Wednesday. A survey conducted by the provincial government and the UN Children's Fund revealed malnutrition rates of 23.1 per cent in northern Sindh and 21.2 per cent in the south. Those rates are above the 15 percent emergency threshold set by the World Health Organisation and are on a par with some of the poorest parts of sub-Saharan Africa. Northern Sindh also had a 6.1 percent severe acute malnutri-
tion rate and southern Sindh had 2.9 percent, both far above the WHO thresholds. "We are looking at hundreds of thousands of children at risk," Unicef chief of communication Kristen Elsby told Reuters. A full report would be released on Friday by the Sindh government, she said, along with the province's response plan. Elsby said it was unclear if the August's floods had caused a spike in malnutrition, but that it had revealed the extent of the problem because babies and mothers were being screened for the first time. "People were already See # 6 Page 11
2 Thursday, January 27, 2011
Its’time to move from green to gene revolution: Zardari ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani chairing the Cabinet meeting at PM Secretariat.-APP
Minister seeks ban on ill-equipped buses KARACHI: Sindh Minister for Environment and Alternate Energy, Shaikh Mohammed Afzal, has called for a ban on inter-city buses not equipped with fire extinguishers and emergency exit gates. According to a statement of his office issued here on Wednesday, the Minister has expressed his deep concern over the incident on Super Highway which claimed lives of 33 passengers. He said the bus owners may be given a certain deadline to equip their buses with all the passenger safety measures. "After the expiry of deadline action may be taken against the violators of those bus operators," he said. He further said that the traffic police should also give fitness certificate to the buses after proper inspection. The Minister further advised the bus owners to allow due rest to the drivers as most of the accidents occur due to restlessness of the drivers. "Motorway Police could be instrumental in checking the vehicles and condition of the drivers," he observed.-APP
Promotion of doctors
Sher Shah tragedy
CM Sindh approves formula
9 suspects acquitted
KARACHI: A high level joint meeting of Health and Finance department was held under the chairmanship of Chief Minister Sindh Syed Qaim Ali Shah at C.M House on Wednesday. The meeting discussed the issue of promotion of doctors pending since long time, and approved the four tier formula for general cadre doctors and dental surgeons. It may be noted that the service structure of general cadre doctors and dental surgeons was lastly approved during the regime of former Prime Minster Shaheed Benazir Bhutto in 1995. According to ratio of four tier formula, one percent will be in BS-20 out of total sanctioned strength; 15% in BS-19; 34% in BS-18 while 50% will be in BS-17 out of total strength. The meeting was informed that according to notification issued by Finance Department dated the 27th February 1995; for up gradation of general cadre doctors; 78 posts from BS-17 upgraded to BS-19 and 2426 posts of BS-17 upgraded to BS-18. Besides, 4-posts
of BS-17 dental surgeons were up-graded to BS-20; 64 posts of BS-17 upgraded to BS-19 and 95 posts of BS-17 were upgraded to BS-18. It was informed that the total strength of doctors in Sindh Health department is 10923 posts which include 109 posts in BS-20; 1634 posts in BS-19, 3714 posts in BS-18 and 6798 posts in BS-17. As per details 51 posts of BS-20 are vacant; 401 posts of BS-19 and 903 posts of BS-18 are lying vacant. It was informed that after follow up and implementation of four tier formula in Health department, the Government of Sindh will have to bear the financial implication of Rs: 76.817 million. It was also informed in the meeting that 1452-doctors who have completed 22 years in Government service are still working in grade / BS18 while 566 doctors who have completed 18 years in Government service are still working in grade / BPS-17. It was further informed that with the implementation of 4-tier formula, no new posts will be created.-Online
Plea to appoint SME ombudsman Staff Reporter KARACHI: The Union of Small and Medium Enterprises (UNISAME) has identified corruption as one of the impediments to SME growth in Pakistan and urged the federal minister for industries and production to establish the office of SME Ombudsman as envisaged in the SME policy 2007 to enable the aggrieved entrepreneur to seek remedy promptly against corruption, unfair and unjust decisions of the government officials in the provinces and the centre. President UNISAME Zulfikar Thaver said the SMEs are badly affected by corruption at every stage of business right from inception to the running of the business and without bribing the officials the entrepreneur cannot manage to set up or
remain in business and this coupled with the grave law and order situation is a big setback to the SMEs. He said the second name of corruption is ' Speed Money' and without paying this an entrepreneur cannot move his matter to the next step and if not the SME has to face a series of objections and hurdles which are unbearable and ultimately the SME gives in and has to pay, in fact the payment of speed money has become compulsory and every nature of work has been categorized and classified and the bribe amount has been fixed accordingly as though it is their right. He said the SMEs are feeling the pinch as this amount has increased due to inflation and the rate has gone high and is now exceeding the limits and increasing the cost of pro-
duction and making the goods uncompetitive. The union has urged the federal minister to set up the office of the SME Ombudsman for redressing the grievances of the small businessman and to check the widespread corruption which is seeping into the economic fabric of the country. The union has pointed out that the SME has to bribe or remain behind dejected at every stage whether it is buying of land, construction of property, obtaining utilities, running of industry, importing, exporting, marketing, registration and other formalities and has urged the government to take up the matter seriously and appoint an ombudsman to enable the SMEs to knock at his doors for relief from this menace.
TV PROGRAMMES THURSDAY 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
News News Subah Savere Maya ke Sath News Hal Kya Hai (Rpt) News Newsbeat (Rpt) Tonight With Jasmeen (Rpt) News News Samaa Metro News Samaa Sports News Hal Kya Hai Crime Scene Newsbeat News Tonight With Jasmeen News 24
PESHAWAR: Chairman Awami National Party Asfandyar Wali speaks during a ceremony in connection to the death anniversary of Bacha Khan and Khan Abdul Wali Khan at Nishtar Hall.-Online
KARACHI: Police officials checking the vehicles in city as security was beefed up to avoid any untoward incident.-APP
KARACHI: Sindh High Court Link Judge of Anti-terrorism special courts Justice Sajjad Ali Shah has ordered release of nine accused persons of Sher Shah tragedy on police report. According to details, nine accused persons were produced in the Anti-terrorism court on Wednesday but the defendant did not identify any one of them as offender. During the proceeding, the investigating officer submitted the report of 497 pages in the court. It was stated in the report that no evidence was found against these accusers and nor any one identified them as offenders. The court ordered the release of them due to no evidence against them. These persons were accused of opening of indiscriminate firing at Sher Shah Kabari Market at jurisdiction of Pak Colony police Station on October 19, last year.-Online
Shazia condemns chehlum blasts TFD Report KARACHI: Sindh Minister for Electric Power Shazia Marri has strongly condemned bomb blasts in Malir Halt Karachi and Lahore and expressed her deep sorrow and grief over the killing of innocent people and police personnel in these blasts. Shazia Marri said that terrorists are enemies of Pakistan, Islam and humanity who are targeting innocent people but they may keep in their mind that our nation is united against them and these evils will not succeed to hostage Pakistani nation. Marri extended her heartfelt condolences to the families of those martyrs who lost their lives in these blasts. She also paid salute to those police personnel who sacrificed their lives while protecting people and said that their sacrifices will be remembered in war against terrorism.
Vision of prosperity 2011 in March KARACHI: Being one of the largest and most popular exhibitions of Pakistan since 2003, Vision of Prosperity 2011 is poised to attract over 500,000 consumers from all walks of life. This year's theme "The Spirit of Success" keeps the tradition of inspiring and motivating for the citizens of Karachi and especially the large Memon Community. Organized by the All Pakistan Memon Federation the Vision of Prosperity 2011 is a 5 hall exhibition to be held at the Expo Center, Karachi from March 11-13 and is being professionally managed by OS Creative Marketing Services - the official event managers for the exhibition. The Memon Community is internationally recognized for its philanthropic activities. The APMF has always paid specific attention towards the development of social sector.-PR
ISLAMABAD: President Asif Ali Zardari has said that time has come that we move from green revolution to gene revolution and called upon the scientists to conduct research on genetic diversity on the country's major crops wheat, rice and cotton so as to produce disease resistant and high yielding variety of these crops. The President urged federal and provincial research institutions and universities to work together for developing and introducing latest technologies in agriculture and farming sector to enhance crop production to meet the growing challenge of food security in the country. Scientists and Researchers in Pakistan should focus on devising strategies to increase wheat and cotton yield in situation where the country is facing the growing challenges of increased population, reduced water
availability and deteriorating soil health in the country. This he said while chairing a presentation on "overall review of agricultural research activities with emphasis on cotton and wheat" given by Pakistan Agriculture Research Council (PARC) at the Aiwan-e-Sadr. The presentation was attended among others by Nazar Muhammad Gondal, Minister for Food and Agriculture, M. Salman Faruqui, Secretary General to the President, Nadeem Ul Haque, Deputy Chairman Planning Commission, Kamal Majidullah , Special Assistant to Prime minister on water resources, Spokesperson to the President Farhatullah Babar, federal secretaries, food and agriculture and planning and development, Chairman ZTBL, Chairman PARC,
Chairman PCSIR,Dr. Samar Mubarikmand, member PC, Dr. Abdul Rashid, Member , PAEC, Rector FAST, heads of Agriculture research organizations and food departments of all the provinces including AJ&K, Vice chancellors of agriculture universities and other senior government officials of the relevant ministries and departments Chairman Pakistan Agriculture Research Council (PARC) Dr. Mohammad Afzal gave a detailed briefing on an overall review of agricultural research activities with emphasis on cotton and wheat, new technologies and innovations in farming, hybrid seeds development, Pakistan China collaborative projects in drip irrigation and hybrid cotton and wheat and other ongoing and planned projects of PARC. The President said that
research is a basic pillar of agriculture development and urged for according priority to the development of high yielding and disease resistant hybrid cotton, wheat, and rice to cope with the surging food demand with the increasing population of the country. The President advised the agricultural ministry and PARC to follow the concept of modernized farming and develop plans for helping the small and fragile farmers and reiterated commitment of the present government to improve the livelihood of small farmers and rural population. The President appreciated PARC for its contribution in cotton research and development of latest technologies and expressed the hope that collaboration with China will continue for improvement of agriculture in general and wheat and cotton in particular.-Online
SAMAA clarification KARACHI: SAMAA TV management has refuted the claims carried by a certain section of the press that Meher Bokhari has been sacked. It has stated that as per normal practice of other current affairs anchors, Meher Bokhari has gone on leave from Jan 24.-PR LAHORE: Punjab Governor Sardar Latif Khosa in a meeting with the fice member delegation of Commonwealth Parliamentary Assocation UK headed by Roger Gale during their visit to Provincial Capital City.-APP
Tax-to-GPD ratio lowest in Pak
PIAF gives roadmap for revival of economy Staff Correspondent LAHORE: While giving a roadmap for the revival of economy for the year 2011, Pakistan Industrial and Traders Associations Front (PIAF) Wednesday termed to utilize all available resources and motivate all segments of the society for turning the economy around. According to a handout issued here, the issues including power outages, repeated hikes in petroleum products, electricity rates, gas shortage, unprecedented increase in daily use items and bad governance would be taken up with the concerned government departments. The roadmap was given by the newly elected PIAF Chairman Engr.Sohail Lashari while addressing the PIAF Executive
Committee meeting. The PIAF Vice Chairmen Nadar Kamal Osman and Junaid Iqbal Sheikh also spoke on the occasion and gave their point of view as to how the ongoing crisis like situation could be averted. Engr. Sohail Lashari said that Prime Minister Yousaf Raza Gilani should intervene into the OGRA affairs and stop it from making any further increase in the petroleum prices as it would not only affect the government's credibility but would also break all previous records of inflation in the country. To overcome the energy shortage, the newly elected PIAF Chairman said that government would have to adopt the alternate means of energy generation besides initiating work on
the construction of water reservoirs including Kalabagh Dam. He said that the country is self sufficient for power generation through solar means, therefore, the government should come up with a package of incentives so that maximum number of people could be able to use solar equipment. He said that the power tariff registered an upward trend of 67 percent in 2010 while it was almost hundred percent in the last three years. Due to this single reason, Pakistani merchandise failed to get due appreciation at the international market and the neighboring countries made huge gains as the rate of electricity for the industry in Bangladesh was 9.5 cents, in India it was 9 cents against a rate of 13 cents in Pakistan.
EPZA does mighty well ISLAMABAD: Export Processing Zones Authority (EPZA) has shown tremendous performance during the year 2009-10. It has published its first ever Year Book for 2010, says a press release. It's Exports increased by 14%, Tax revenues increased by 14%, Investment of surplus funds increased by 11%, Foreign Investment increased by 60% on account its excellent performance. Federal Minister for Industries and Production Mir Hazar Khan Bijarani has appreciated the performance of EPZA during 2009-10 and congratulated the administration of EPZA for publishing its first ever Year Book-2010 which is very informative and carries healthy guidelines for investors and industrialists. EPZA is contributing to
the economy by enhancement of foreign investment, generation of employment and setting up of allied manufacturing industries. It is constantly diversifying and expanding its operations with commitment to achieve its mandate through sustainable policies and support of Government. Its mandate is to make all arrangements for planning, development and management of the zones and to provide for matters connected therewith or ancillary thereto. The EPZA vision is to proactively facilitate the investors and create enabling environment for them to enhance export-led manufacturing, trade and investment so as to achieve exports' target of US$ one billion by 2015. At present it has six Export Processing Zones like KEPZ Karachi, EPZ
Risalpur, Saindak EPZ, EPZ Sialkot , Tuwairqi Steel EPZ Karachi and Duddar EPZ which are working very efficiently. EPZA provides one window operation with simplified procedures, secured environment, customs bonded area , uninterrupted power supply, Gas provided by utility company on priority, continuous water supply by EPZA, environment friendly atmosphere, easy access to seaport and air port, abundance of skilled and educated workforce, developed land available at competitive rates for 30 years lease, relief from double taxation subject to bilateral agreement, Off-shore Banking Units available to facilitate financial transactions and Offices of Clearing and Forwarding agents within the zone to investors.-NNI
PaCCS can check containers' scamming also Staff Reporter KARACHI: The Federal Tax Ombudsman (FTO) has given some key recommendations to the federal government to split Federal Board of Revenue (FBR) into two boards - one dealing exclusively with Customs matters including elimination of smuggling, containers scamming and others dealing with taxes like income tax, sales tax and federal excise duty, wide discretion in the hands of unscrupulous customs officials, lack of transparency and ineffective accountability. The measures will provide better focus on matters relating to management of Customs, says FTO report submitted to Supreme Court of Pakistan recently. Former FBR chairman Abdullah Yousaf said while commenting on ISAF Containers Scam that his government had introduced some key reforms in the past. One of such reforms was the introduction of the Pakistan Automated Customs Computerised System (PACCS) for speedy clearance of import and export procedures.
SBP workshop on remittances PESHAWAR: The State Bank of Pakistan Peshawar in collaboration with Pakistan Remittance Initiative (PRI) organized one-day workshop on Home and Remittance Business Roles and Responsibilities here on Wednesday. The PRI is a joint initiative of the State Bank of Pakistan, Ministry of Overseas Pakistanis and Ministry of Finance. More than 100 participants comprising branch managers of remittance rich areas of the Khyber Pakhtunkhwa (KP), regional heads of banks and bank officers dealing in foreign exchange attended the workshop. Home remittance is the second largest source of foreign exchange for the country. Owing to its importance for the economy, it is expected from the banking industry to give priority to this business area. -APP
3
Thursday, January 27, 2011 Top Economic Events
Euro little changed vs dollar ahead of Fed statement Wariness before Fed; policy seen staying accommodative NEW YORK: The euro was little changed against the dollar on Wednesday after earlier hitting a twomonth high as investors adjusted positions ahead of the Federal Reserve's policy statement later in the day. None expect the US central bank to announce any change in its benchmark interest rate, but investors are cautious and looking for confirmation from the Fed that its focus remains on supporting growth and not on inflation. Any acknowledgment from the Fed of a recent improvement in the US economy is likely to push the euro lower again as much of the single currency's recent rally was based on the belief the Fed will stick to an easier monetary policy than the European Central Bank. "The Fed is expected to keep policy on
hold today, leaving the tone of the statement the major risk," said Sacha Tihanyi, currency strategist at Scotia Capital in Toronto. "Acknowledging an improved inflation situation may provide US dollar support." The euro fell to a session low against the dollar after the Commerce Department reported that sales of new US single-family home in December rose to their highest level in eight months and prices were the highest since April 2008, raising cautious optimism for a housing market recovery. The euro rose to $1.3723 on trading platform EBS, its highest since Nov. 22,
before dipping back to $1.3688, little changed from the prior close. The session low was $1.3643. Traders said a large option barrier was taken out at $1.3720, with more
barriers highlighted at $1.3725 and $1.3750. Stop-losses were reportedly lurking above the latter level. The euro stalled ahead of a key technical level around $1.3740, the 61.8 per cent retracement of its fall from November to January. Beyond that, the
Asian currencies
Thai baht snaps 4-day decline as equities rise Won up 0.1pc as foreigners scoop up assets SINGAPORE: The Thai baht snapped a four-day losing streak on Wednesday, with dealers deciding the tumble to the lowest against the dollar since September the previous day was overdone and foreign investors tip-toed back into domestic shares. The baht was also supported after minutes of the Bank of Thailand's policy meeting earlier this month said the Monetary Policy Committee discussed a 50 basis pointinterest rate increase. It elected to raise rates by a quarter point eventually, but the minutes suggested authorities were ready to take stronger measures to keep inflation at bay. Still, currency investors
remained concerned about rising prices in Thailand, India and Indonesia, analysts and dealers said. "With inflation worries, foreigners will exit from the countries now and come back later," said a Kuala Lumpur-based trader. Standard Chartered took profits on its long dollar/baht recommendation, saying the 14-day RSI and stochastics were rolling into overbought territory. Both the baht and the Indian rupee have fallen 2.2 per cent so far this month, the worst performing currencies in emerging Asia Investors redeemed $299 million from Asia equity ETFs
Sterling gains after BoE minutes LONDON: Sterling got a lift on Wednesday after minutes from the Bank of England's policy meeting this month showed two policymakers voted for an interest rate hike, although worries about economic growth checked gains. The minutes showed BoE Monetary Policy Committee (MPC) member Martin Weale unexpectedly joined Andrew
Sentance in voting for a quarterpoint rate rise. That prompted investors to price in the rising likelihood of a rate increase in coming months. Implied interest rate futures based on overnight index swaps were pricing in a 44 per cent chance of a 25 basis point rate hike in May, up from 30 per cent before the minutes were released. Still, they remained lower than on Monday when the market saw a more than 60 per cent chance. The chances fell on Tuesday with news of a shock contraction in fourth-quarter UK GDP.
"I don't think the BoE minutes will change the outlook," said Paul Robson, currency strategist at RBS Global Banking. "The market may be pricing in chances of a rate hike but the UK faces the possibility of no growth and high inflation. There are concerns about stagflation and sterling will find it difficult to rise much." Sterling was up 0.4 per cent on the day against the dollar
at $1.5888, having risen to a session high of $1.5901. The pound recovered from a trough of $1.5750 hit on Tuesday, with traders also citing steady buying by Asian central banks. The pound rallied against the euro, knocking the single currency roughly half a per cent lower to 85.96 pence. The euro retreated from a 2-1/2 month high of 86.72 pence hit before the minutes were announced. That move had pushed sterling's trade-weighted index to 79.7, its lowest since late December, before rebounding to 80.1 in late London trade. -Reuters
in the week ended Jan. 21, the first outflow in nine weeks and the heaviest since September, data from TrimTabs Investment Research showed. Within Asia, Thailand, China, Hong Kong and India ETFs suffered the largest outflow in 2011, data showed. Apart from the baht, the won rose for a third consecutive session on exporters' demand for the currency for settlements before the end of the month and the Lunar New Year. Dollar/won slid to as low as 1,115.8, the lowest since Jan. 20. "Strong stocks forced investors to give up their long (dollar/won) positions," said a foreign bank dealer in Seoul. -Reuters
Russian rouble climbs on rate outlook MOSCOW: The rouble hit its strongest levels against the dollar since October on Wednesday, after inflation data reinforced expectations the central bank will tighten monetary policy next week. Russian consumer inflation rose 1.8 per cent in the first 24 days of 2011, exceeding the reading for the whole of January 2010, creating a challenge for the government which has pledged to keep CPI within a range of 6-7 per cent this year. Market players said the central bank was likely to curb inflation by raising deposit rates when it meets on Jan. 31 to encourage shifting excessive liquidity into bank deposits. The rouble was 6 kopecks firmer at 29.74 against the dollar after briefly strengthening to 29.70, its strongest level since early October. Against the euro, the rouble weakened 12 kopecks to 40.69, reflecting a broad recovery in the single currency. Versus the euro-dollar basket, used by the central bank to track exchange rates, the rouble gave up 2 kopecks to 34.66, but has gained around 40 kopecks since the start of the year. Reuters
NZ dollar holds on to gains ahead of cbank rate calls WELLINGTON: The New Zealand dollar consolidated its recent euro-fuelled gains in light trading on Wednesday, as the market awaited the central bank rate reviews from the US and New Zealand. The New Zealand dollar was at $0.7680 in late local trade, slightly above opening levels, as it held in a tight 20-point range in the local session. The kiwi was about $0.7650 late on Tuesday. "Selling pressure into the RBNZ review should eventuate as the market anticipates a dovish tone," analysts at ANZ Bank said in a note to clients. Trade in the kiwi was kept thin by a holiday in New Zealand's nearest neighbour and main trading partner, Australia. The kiwi, along with its Australian counterpart, tracked the single currency higher as eurozone debt fears eased and investors picked the US Federal Reserve to take a dovish tone when it meets later on Thursday.
Soon after the Fed releases its statement the Reserve Bank of New Zealand will announce its rate decision, with the market picking no chance of a rate rise as the domestic economy struggles to gain traction, while a recent run of tepid data has some analysts suggesting the central bank may be more cautious than its last review. The Australian dollar was last at $0.9967, a touch below opening levels, after also receiving a solid boost from a strong euro in offshore trade. The Aussie-kiwi cross also spent a quiet day's trade, holding about NZ$1.2970. The kiwi was unmoved by comments from New Zealand prime minister John Key that the government will reduce the amount it borrows, and cut new spending to return its finances to surplus a year earlier than forecast. Other local data on Wednesday showed a 1.4 per cent dip in credit card spending during December, the largest drop in eight months. Reuters
Nov. 22 high of $1.3786 is seen as a major target. "The euro got a boost on an anti-inflation focus but (euro-zone) sovereign risk is still a significant overhang," said Greg Salvaggio, vice president of trading at Washington-based Tempus Consulting. "Overall there is optimism on the US economy." Salvaggio said he was surprised to see the move to near $1.3725 and expects to see the euro closer to $1.3400 next week. Analysts expect the US central bank will keep short-term rates near zero and say it remains committed to its $600 billion bond purchase program in its policy announcement, which is expected at about 1915 GMT after the close of the Fed's two-day meeting. The dollar was up 0.1 per cent at 82.32 yen. -Reuters
Yuan rises, awaits fresh PBOC signals SHANGHAI: China's yuan ended up near its record trading high versus the dollar on Wednesday after the People's Bank of China set the mid-point at a new peak again but up only slightly from Tuesday's fixing, traders said. The PBOC recently fixed a slew of record high mid-points, a signal it may let the Chinese currency's fortunes decouple from political events. But the record high daily fixings this week have only been marginally higher than each previous session, an indication that the government will continue controlling the pace of yuan rises and preventing its appreciation from inviting speculative "hot money" inflows, traders said. "Repeated record high midpoints appear to reflect the government's intention to let the yuan appreciate in the future, keeping the market quite bullish over the prospect," said a trader at a European bank in Shanghai. "But the market is also cautious not to run ahead of the fixing too much, in case that pushes the central bank to pull back the yuan to warn what it may see as excessive speculation." Spot yuan closed at 6.5819
against the dollar compared with 6.5827 at Tuesday's close. It has now risen 3.72 per cent to the dollar since its mid-June depegging. It touched an intraday low of 6.5847 and a high of 6.5814, just shy of 6.5808 hit on Monday -- its highest intraday trading level since China let the yuan be publicly trade in 1994. Traders said they expected the yuan to continue trading narrowly in the near term, awaiting fresh signals from the PBOC. Offshore, benchmark one-year dollar/yuan non-deliverable forwards were bid at 6.4470 late on Wednesday, down from 6.4530 at Tuesday's close. Their implied yuan appreciation in a year's time rose to 2.19 per cent from 2.09 per cent. Dollar/yuan offshore forwards have generally staged a lacklustre performance in recent weeks, partly because signs of a US economic recovery pushed hedged funds to reallocate their assets, traders said. Before trading started on Tuesday, the PBOC fixed the yuan's daily mid-point versus the dollar at 6.5878, slightly firmer than Tuesday's 6.5881. The currency can rise or fall 0.5 per cent from the PBOC's fixing in a given day. -Reuters
Swissie slips vs euro after strong rally ZURICH: The Swiss franc was slightly lower against the euro and the dollar on Wednesday after the previous day's strong rally as good demand for the debut bond from Europe's financial rescue fund reassured investors. Worries about the economy and a shock contraction in the United Kingdom's gross domestic product pushed the safe-haven franc higher on Tuesday. "Euro-franc finds it difficult to post gains past the 1.30 level," UBS economist Reto Huenerwadel said. The franc was down 0.3 per cent against the euro compared to the New York close, trading at 1.2931 per euro at 0820 GMT. "The market has already reacted back to the 1.2825/10 support. While we would allow for further slippage to 1.2765/00 we look for signs that the market is basing here," Commerzbank technical analysts said in a note to clients. Credit Suisse analysts said they continued to see near-term
downside risks for the eurofranc but remained positive on a twelve-month basis due to the interest rate support for the euro and the overvaluation of the franc. The franc was 0.2 per cent lower against the dollar at 0.9441 per dollar. The dollar held near a 10week low against a basket of currencies on Wednesday, with the market looking for confirmation from the Federal Reserve later in the day that its focus remains on supporting growth. In Switzerland, the next key economic data release is the KOF leading indicator, which will be published on Friday. Reuters
Time 0:15 1:00 4:50 All Day 16:00 18:30 18:30 18:30 20:00 20:30
Source USD NZD JPY EUR GBP USD USD USD USD USD
Events Federal Funds Rate Official Cash Rate Trade Balance German Prelim CPI m/m CBI Realized Sales Core Durable Goods Orders m/m Unemployment Claims Durable Goods Orders m/m Pending Home Sales m/m Natural Gas Storage
Source
Events
JPY EUR EUR GBP GBP USD USD
CSPI y/y German Import Prices m/m Italian Retail Sales m/m MPC Meeting Minutes BBA Mortgage Approvals New Home Sales Crude Oil Inventories
Forecast <0.25% 3.00% 0.53T -0.3% 37 0.9% 407K 1.6% 0.9% -121B
Previous <0.25% 3.00% 0.43T 1.0% 56 3.6% 404K -0.3% 3.5% -243B
Actual
Forecast
Previous
-1.3% 2.3% -0.3% 2-0-7 28.7K 329K
-1.3% 1.3% 0.1% 1-0-8 29.9K 302K 0.9M
Previous Day -1.1% 1.2% 0.3% 1-0-8 29.7K 290K 2.6M
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 1.3669 1.3719 0.9444 0.9462 1.5870 1.5891 0.9973 0.9979 0.9960 0.9994 112.3200 112.7100 0.8612 0.8669 1.2901 1.2965 130.4300 130.5200 87.0600 87.3000 1329.6600 1337.6900
Bid 1.3666 0.9440 1.5867 0.9969 0.9956 112.2700 0.8609 1.2896 130.3800 87.0100 1329.0400
Low 1.3657 0.9409 1.5773 0.9940 0.9943 112.1700 0.8611 1.2874 129.5500 86.7800 1328.9600
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 26/01/2011 A USD GBP CAD EUR JPY O/N 0.23688 0.55688 0.94667 1.06875 SN 0.09813 1WK 0.25375 0.57063 0.99417 0.85250 0.10725 2WK 0.25656 0.57438 1.03500 0.83250 0.11313 1MO 0.26000 0.59875 1.08417 0.80625 0.12438 2MO 0.28313 0.65750 1.14750 0.87563 0.15125 3MO 0.30438 0.77375 1.23083 0.99188 0.18875 4MO 0.34500 0.85375 1.29667 1.05188 0.24313 5MO 0.40125 0.95750 1.34917 1.13688 0.30000 6MO 0.45469 1.07188 1.42750 1.22500 0.34625 7MO 0.50813 1.15163 1.49333 1.27625 0.39500 8MO 0.56000 1.23500 1.56833 1.33438 0.44188 9MO 0.61750 1.31850 1.63500 1.38625 0.48750 10MO 0.66781 1.39563 1.72250 1.43500 0.51438 11MO 0.72219 1.46250 1.80417 1.48563 0.54125 12MO 0.78125 1.53125 1.89667 1.53563 0.56750
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada March 1, 2011 September 8, 2010 Bank of England February 10, 2011 March 5, 2009 Bank of Japan February 14, 2011 December 19, 2008 Federal Reserve January 26, 2011 December 16, 2008 Swiss National Bank March 17, 2011 March 12, 2009 The Reserve Bank of Australia February 1, 2011 November 2, 2010 European Central Bank n/a May 7, 2009
Current Interest Rate 1% 0.50% 0.10% 0.25% 0.25% 4.75% 1%
Division of National Bank of Pakistan (NBP) KARACHI, January 26,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.95 135.88 117.62 86.20 91.23 85.64 13.19 1.05 14.91 67.11 15.78 22.92 11.03 13.06 307.25 28.15 65.95 23.61 23.40 0.08 2.79
85.75 135.57 117.34 86.00 91.02 85.44 13.16 1.04 14.88 66.95 15.74 22.87 11.01 13.03 306.53 28.08 65.80 23.55 23.35 0.08 2.78
85.56 135.26 117.07 85.77 90.78 85.21 13.12 1.04 14.84 66.77 15.70 22.81 10.98 12.99 305.73 28.01 65.62 23.49 23.29 0.08 2.77
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 26, 2011
KASB
BMA
ELXIR
GSL
ICSL
12.80 12.85 12.95 13.00 13.38 13.42 13.50 13.70 13.85 13.95 14.15 14.15 14.18 14.20 14.20 14.22 14.23 14.24 14.60 14.80
12.80 12.95 13.05 13.18 13.45 13.45 13.55 13.55 13.72 14.00 14.17 14.20 14.15 14.28 14.28 14.25 14.16 14.15 14.60 14.75
12.90 12.95 13.10 13.15 13.45 13.48 13.60 13.65 13.80 14.05 14.19 14.20 14.21 14.27 14.32 14.25 14.17 14.22 14.55 14.75
12.85 12.95 13.02 13.24 13.45 13.50 13.62 13.70 13.85 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.20 14.65 14.90
12.75 12.80 12.95 13.13 13.40 13.35 13.40 13.55 13.70 14.05 14.20 14.22 14.20 14.30 14.35 14.23 14.20 14.22 14.55 14.75
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 12.85 12.90 12.95 13.20 13.40 13.45 13.50 13.60 13.80 14.00 14.18 14.20 14.22 14.30 14.35 14.25 14.16 14.18 14.70 14.90
12.83 12.90 13.00 13.15 13.42 13.44 13.53 13.63 13.79 14.01 14.19 14.20 14.20 14.27 14.30 14.25 14.18 14.20 14.61 14.81
Currencies Correlation GBP/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY
week month months months year years
0.18 -0.55 -0.02 0.41 0.71 0.50
0.37 0.92 0.80 0.62 -0.32 0.15
0.32 -0.17 0.41 0.51 0.02 -0.09
EUR/USD NZD/USD
0.35 0.87 0.85 0.80 -0.04 0.42
0.50 0.72 0.87 0.80 0.73 0.80
USD/CAD USD/CHF
0.05 0.17 0.67 0.62 0.73 0.55
-0.33 -0.59 0.05 -0.42 -0.34 -0.43
-0.57 0.27 0.25 -0.26 -0.81 -0.64
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)26/01/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.50
13.00
12.50
13.00
12.85
13.35
13.35
13.60
13.50
13.75
13.60
14.10
13.65
14.15
13.70
14.20
JSBL
12.75
13.25
12.80
13.30
13.00
13.50
13.40
13.65
13.60
13.85
13.65
14.15
13.85
14.35
13.90
14.40
ASPK 12.75
13.25
12.80
13.30
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
CIPK
12.65
13.15
12.70
13.20
12.80
13.30
13.45
13.70
13.65
13.90
13.80
14.30
13.90
14.40
14.10
14.60
DBPK 12.75
13.25
12.75
13.25
12.80
13.30
13.30
13.55
13.45
13.70
13.50
14.00
13.60
14.10
13.70
14.20
FBPK 12.80
13.30
12.85
13.35
12.90
13.40
13.40
13.65
13.55
13.80
13.65
14.15
13.75
14.25
13.85
14.35
FLAH 12.80
13.30
12.85
13.35
12.85
13.35
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
HBPK 12.80
13.30
12.90
13.40
12.95
13.45
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
HKBP 12.70
13.20
12.85
13.35
12.85
13.35
13.35
13.60
13.45
13.70
13.55
14.05
13.65
14.15
13.75
14.25
NIPK
12.75
13.25
13.00
13.50
13.25
13.75
13.50
13.75
13.60
13.85
13.70
14.20
3.80
14.30
13.90
4.40
HMBP 12.80
13.30
12.80
13.30
12.90
13.40
13.35
13.60
13.50
13.75
13.55
14.05
13.60
14.10
13.70
14.20
SAMB 12.75
13.25
12.85
13.35
13.00
13.50
13.45
13.70
13.60
13.85
13.60
14.10
13.75
14.25
13.85
14.35
MCBK 12.75
13.25
12.75
13.25
12.80
13.30
13.25
13.50
13.40
13.65
13.50
14.00
13.60
14.10
13.75
14.25
NBPK 12.75
13.25
12.75
13.25
12.80
13.30
13.30
13.55
13.40
13.65
13.50
14.00
13.65
14.15
13.75
14.25
SCPK 12.70
13.20
12.75
13.25
12.85
13.35
13.35
13.60
13.45
13.70
13.55
14.05
13.70
14.20
13.80
14.30
UBPL 12.70
13.20
12.80
13.30
12.80
13.30
13.45
13.70
13.55
13.80
13.60
14.10
13.70
14.20
13.80
14.30
AVE
13.25
12.80
13.30
12.86
13.36
13.39
13.64
13.51
13.76
13.59
14.09
13.70
14.20
13.80
14.30
12.75
4 Thursday, January 27, 2011
A Soldierâ&#x20AC;&#x2122;s Promise
The Financial Daily International Vol 4, Issue 164
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board
Rabail Iftikhar Cheema
W
e were witness to three Pakistan Army soldiers embracing Shahadat in Khurram Shehzad, CFA Asim Abbas Ashary, CPA Waziristan. A roadside IED Prof. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA (Improvised Explosive Device) had Zahid Bukhari SVP HBL (retd) blown them up. Their fellow soldiers Dr. A. Hadi Shahid, FCA Ismat Sabir Muhammad Arif were preparing to send their coffins, along with their belongings, to their Head office hometowns, for burial. One could real111-C, Jami Commercial Street 11, Phase VII, DHA Karachi ize how important would be the Telephone: 92-21-35311893-6 Fax: 92-21-35388428 belongings for their mothers, wives and URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com sisters. Mothers would kiss their clothes, breathe in smell of their sons; Lahore office wives would probably steel hankies 24- Peshawar Block, Fortress Stadium, Lahore without catching anyone's eyes and at Telephone: 92-42-6675595 Fax: 92-42-6664349 night they would talk to them, smell Email Address: editor@thefinancialdaily.com them and weep. One could watch the colleagues, standing beside the corpses, showing respect to their comrades; with amazing nerves hiding their feelings. A soldier took out from the pocket of Shaheed Sepoy Abid Ali a photograph wrapped in half burnt piece of paper, a letter written by him to his wife. He had recently got married. The photograph was taken on the day of marriage ceremony held in a Sindh Ghot (village). The half burnt letter which Sepoy Abid couldn't post, promReading the details of proceedings of the ised an early return to his newlywed The colleagues did send him to meeting of Economic Co-ordination wife. his hometown, but in a wooden coffin Committee of the Cabinet (ECC) reveals that draped in the Pakistan flag. Soldiers no major decision could be made because of don't break their promises. They are their duty. In the line of duty the non-availability of the basic information. doing more than 30,000 Pakistani civilians Two of the most crucial points on agenda and personnel of the armed forces, 2001, have laid down their lives. were decisions regarding restoration of gas since No one knows how many more boxes supply to fertiliser plants and import of urea and Pakistan flags are waiting for the soldiers to dispatch to their hometowns from Saudi Arabia on deferred payment. burial, but one thing is clear that Disappointingly it transpired that: 1) avail- for we, the nation practically in state of ability and requirement of urea for the current war, really don't realize, amidst the sowing season was not known, 2) Chairman hustle bustle of life, the intensity and seriousness of our fight against terrorPlanning Commission was directed to get ism, and the menace of extremism that assurance from SABIC (Saudi Arabia Basic has plagued our society. This is the price that any nation in the Industries Corporation) for the delivery of heaviest world had paid. urea before 15th February 2011 and also the But unfortunately and collectively we Committee was told to workout financial have opted to be in a state of denial; we deny the nature of homegrown threat implications involved in the price differential we face today. We as a nation and we as soldiers of Pakistan Army were and of the 225,000 tonnes of urea. are not clear as to why the The Advisor to the Prime Minister on partially Taliban, the terrorists, the people from Agriculture Kamal Majeedullah was asked to our own within, are the enemy. A talk to the Government of Sindh about lifting nation in general and a soldier in particular are best protected once they deterof the 55,000 tonnes of urea presently stocked mine the tangibility of an enemy. At the Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Fertiliser Fiasco
with TCP. This quantity was allocated earlier for the flood affected people of Sindh but now the government wants to give it to the general farmers, and the next production/or import will be given to the farmers of Sindh. The decision to import urea from Saudi Arabia was taken by the ECC on 8th December 2010 and a committee was constituted to finalise the plan within a couple of days whether Trading Corporation of Pakistan (TCP) or the private sector would import it but the decision is yet to be made mainly because of subsidy issue. The landed cost of imported urea was estimated at almost double the price at which locally produced urea was being sold. The delay in import of urea in 2008 had cost the country and the farmers a fortune. Late arrivals too dealt a big blow to the government and the farmers couldn't get fertiliser in time on top of it, which substantially slashed the produce. However, the middle men made tonnes of money through urea's black marketing, while the government had to bear the burden of billions of rupees in subsidy. This crisis would have been avoided had the government not gone for the closure of fertiliser plants --consuming SSGC/SNGPL gas -- for 45 days and a 20 per cent curtailment of supply of the units feeding on Mari field gas. Despite its dedication declared for fertiliser industry as back as in 2001, Wapda power plants are still guzzling gas from this field. Curtailing gas supply for such a long period is a violation of the agreement signed between the government and fertiliser manufacturers while power plants could be run on furnace oil. And on top of every thing the disruption in fertiliser supply and resultant hike in price will not allow the country to achieve self-sufficiency in food.
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.
outset we were lost in making our mind whether to fight our own men or not. Anyone could ask, where the enemy is, who the enemy is, because the enemy was, and perhaps is, invisible. This is altogether a new challenge of transforming the nation to see clearly the enemy, even if he is not visible, who is structured around asymmetric power, mercurial in nature, unpredictable, unconventional and extremely ideological, enormously indistinguishable - an ideologist-turned terrorist or a terroristturned ideologist. They too are professing for jihad-fi-sabil Allah, they too quote Quran and Hadith to motivate their diehards, they touch religious and commotional province, blend with precision of the political and social griev-
patriotism. It was very difficult to draw the line between them and the men from their own within. It was difficult to manage the perceptions, to ask the soldiers to fight and sacrifice for true Islam, to protect Pakistan and sound sirens of success for the people of Pakistan, assuring that we can defeat terrorism, we can protect our freedom, we can live on with dignity, our schools are safe, education for girls and their honor is protected, and assuring that our religion is safe and the Prophet (PBUH) is regarded. The traditional motivational means of inspiring soldiers was not the means but it required correct sensitization of soldiers, because the areas our soldiers hail and grow are invariably theo-centric and religiously influ-
We as a nation and soldiers were and partially are not clear as to why the Taliban, the terrorists, the people from our own within, are the enemy. A nation in general and a soldier in particular are best protected once they determine the tangibility of an enemy. At the outset we were lost in making our mind whether to fight our own men or not. ances, ignites critical mass to explode into "terrorism" - he has transmuted into a network of networks, speaks through bombs, bullets and IEDs, places roadside bombs, blows vehicles and schools alike, says Allah-o-Akbar after slaughtering the soldiers and men, women and children, journalists and fellow countrymen - this really perplexes our minds which side to put in the weight? Every time the killers of innocent people are found to be motivated and religiously charged Pakistanis. We denied all that. With state of denial, we forget our killers, politics of name, blame and shame start again. Especially this was probably the hardest task for particularly our military commanders and psychological operations experts to clearly show to them their real enemy hidden behind the religiosity and citizenry, emotionalism and
enced. Our social and religious environment in villages, towns and cities is uncomfortable to true intellectual dialogue. We derive negative pride of destroying enemies of Islam, overpowering infidel forces and making Ummah invulnerable to anti-Islamic forces. Take revenge, and jihad is the only means to do so. One doesn't know how long our Sparta can live its sword, while swords create only new difficulties. The influx of free media, unconstitutional involvement of army in national affairs had given militancy a voice louder than the democratic voices. The tarnished image made the job more difficult. Voices of militancy use narrative of injustice. This narrative has radicalizing effects of what we call the root causes. The US military action in Iraq, Afghanistan, Pakistan, Yemen and other counties is inflaming radical mindset. Its radicalizing effects are
greater than the role played by poverty or social marginalization in turning youth towards extremism. Conspiracy theorists, half cooked and half-baked analysts, the rightwing media and more dangerously some of our politicians and ulema continue to perpetuate the hidden hand, theories blaming hostile intelligence agencies nexus as a reason of these terrorist attacks. But one also doesn't understand as to why the narrative of injustice is to be corrected by blowing our schools, exploding market places to inject more poverty, gusting video and barber shops, butchering minorities through hour long shooting sprees, torching Christian village and burning the innocent alive, slaughtering civilians, journalists, captured soldiers. How can the narrative of injustice correct the narrative of brutality against own people? When there is so-called TalibanIslam versus the true spirit of Islam, one needs superior thoughts, superior logic and conviction that those who are killing innocent Pakistanis, children in the streets, women in shopping areas, flogging and beheading publicly of unproven allegations, blowing up schools and colleges are the enemies of our motherland. Pakistan's founding fathers envisioned a moderate Islamic state, where there is no place for provincialism, sectarianism and terrorism - our Islamic identity was progressive, enlightened and moderate. The founding fathers hoped that educated ulema would interpret Islam in an enlightened, motivated and rational manner. Unfortunately misinterpretation of our national and Islamic identities vented ways to extremism. The impasse that confronts us today needs free and fair intellectual debate to explore true ideological dimensions of Pakistan. The war Pakistan is fighting needs national support and without national consensus voices of militancy would make impossible what is possible. Our quest to live on as a nation and desire to progress - quest to correct past follies would hard to pin down without national support. If unity is forged, and nation remains at the back of the soldiers, the defenders would not let us down, like they have proved in all times of trial so far. They will not break the promise made on oath while joining the Pakistan Armed Forces. (The author has won gold medal from Fatima Jinnah Women University)
Westâ&#x20AC;&#x2122;s Threat List Growing T
he 10th anniversary of the 9/11 attacks on the United States is likely to spur al Qaeda to redouble its efforts to instigate a big attack on US and other Western targets, Western officials say. But instead of directing a plot, its isolated and ageing leaders will probably have to settle for the lesser role of inspirational figureheads who use personal or online ties to motivate allies with superior manpower and access to targets. The capacity of al Qaeda leader Osama bin Laden to stage complex attacks like those of Sept. 11, 2001, has been relentlessly ground down by US missile strikes in the remote northwest Pakistani mountains where he is believed to hide. That is of limited comfort to Western governments. Counter-terrorism specialists describe a constantly mutating movement that is harder to hunt than in its turn of the century heyday because it is increasingly diffuse -- a multiethnic, regionally dispersed and online-influenced hybrid of activists.
"Despite apparent weaknesses, the resilience of al Qaeda, and the tenacity of its various allies, have been outstanding," said Maha Azzam, Associate Fellow at Britain's Royal Institute of International Affairs. "Counter-terrorism plans in the West and elsewhere are going to be increasingly challenged over 2011 because the threat is coming from different fronts and in different guises." DIVERSE THREAT Experts suspect bin Laden would greatly prefer to oversee an attack, as this would be the best way to show his network remains relevant six years after its last successful strike in the West, the London bombings that killed 52 people in 2005. But so diverse are today's global groupings of violent Islamist militants compared to a decade ago that such a plot is as likely to come from one of al Qaeda's growing array of allies as from its leadership, security officials and analysts say. "Ultimately, I expect it is the end game that matters most to bin Laden," said Henry
Wilkinson, a senior analyst at Janusian security consultancy in London. "If a major attack on the West occurred with or without al Qaeda involvement, he would probably view that as a success." "And he would almost certainly receive credit as the inspiration anyway." Weakened by drone strikes, the central leadership headed by bin Laden and his deputy Ayman al-Zawahri has been shorn of many of the mid-level experts they would need to mount a threat as complex as the 2001 airline hijack attacks that killed about 3,000 people in New York, Washington and Pennyslvania and triggered the US-led "war on terror". Making a virtue of necessity, the leaders appear to have hit upon a strategy of encouraging smaller, simpler attacks carried out by globally scattered hubs of sympathisers and affiliates in Africa, the Middle East, south and central Asia and Europe. "The freelancers and offshoots are more important and potent than al Qaeda central," said
Fawaz Gerges, professor of international relations at London's School of Oriental and African Studies. Experts speculate that in some cases the leaders have had little choice but to cede operational control over their allies in return for the right to claim any operation for al Qaeda. These hubs are supplemented by loose networks of so-called homegrown militants in the West, radicalised mostly online, which include US citizens, experts say, and by an unknown number of individuals experts say could be willing to try solo attacks. QAEDA SPAWNS A "CREDIBLE COMPETITOR" TO ITSELF British Home Secretary Theresa May said in November threats did not now come just from "the old al Qaeda organisation. Many other terrorist groups now aspire to attack us." The evidence shows that al Qaeda's willingness to attack in the West is shared not only by affiliate groups, such as its Yemen-based al Qaeda in the Arabian Peninsula (AQAP),
but also by like-minded militants such as Somalia's alShabaab and the Pakistanbased Pakistani Taliban, Lashkar-e-Taiba, and mostly central Asian Taitaful Mansura and Islamic Jihad Union. While al Qaeda central is a determined instigator and supporter of armed groups active in rampant militant violence in nuclear-armed Pakistan, its allies and sub-groups have shown they have a better chance of success in striking at the West, even if most plots to date have been foiled. A case in point is AQAP, which made failed attempts to bomb an airliner over Detroit in December 2009 and sent parcel bombs to Chicago in October 2010, coming the closest of any part of al Qaeda to a successful attack on US aviation since 2001. In an article for the Site Intelligence Group, Bruce Hoffman, a veteran terrorism expert at Georgetown University, calls AQAP "the first credible competitor to its parent, al Qaeda Central, as the pre-eminent threat to American interests." -Reuters
Another Indian Bid In a surprising move, the Pakistan security officials have the other day foiled an attempt by the Indian intelligence to enact a fake terror act on the ceasefire line in Kashmir in order to implicate Pakistan in terrorism, and draw international pressure through lethal propaganda by its media and diplomatic channels. The plan was unearthed when a suspect was apprehended in a Sialkot border area while attempting to cross over to the Indian side through the heavily guarded border fence; which
is not possible because the impregnable barbed wire's entrance points are locked and controlled by the Indian Border Security Force itself. The man apprehended by the Pakistan officials has confessed during the interrogations that he is an Indian spy, and was tasked to recruit agents from Pakistan to work for the Indian intelligence agency, RAW. The incident provides yet another proof of how the Indians are deeply involved in stage-managing terror incidents to implicate Pakistan.
Latest confessions of Hindu extremist leader Swami Seemanand that he, along with Indian army's in-service Col Prohit and others, was involved in the February 2007 Samjhota Express bombing that killed 68 Pakistani passengers, are a proof enough. In this case, an Indian spy tried to cross into the Indian side. The suspect whose name has been withheld for security reasons disclosed that his Indian handlers, Sharma and Amjad, had tasked him to recruit a Pakistani national by offering
a large monetary reward, preferably carrying a weapon and send him across the border through the barbed wire fence after informing the BSF troops. Sharma had assured him that all the details of border crossing would be finalized by him and duly taken care off at his end. The suspect also disclosed that the Indian Intelligence had planned a fake encounter to kill the border crosser and exploit the episode as proof of terrorists launched by ISI crossing over from Pakistan to commit acts of terrorism in
India. He also said that he had held a few meetings with his Indian handlers in Islamabad as well. This arrest has pulled the lid off Indian spying networks in Pakistan and the existence of Indian agents or Pakistanis recruited by Indians. The episode also points to the involvement of Indian undercover agents stationed in its Islamabad embassy, engaging in espionage activities in grave violation of their diplomatic status. Marya Mufti, Lahore
5
Thursday, January 27, 2011
South East Asian stocks
Foreign inflows boost Thailand, Indonesia
European shares jump on Obama comments; miners up KSE-100 Index Opening Closing Change % Change Turnover (mn)
KSE gains, ungains
12,455.75 12,483.34 27.59 0.22 139.31
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,843.47 3,846.44 2.97 0.08 7.86
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,073.79 3,088.12 14.33 0.47 0.08
Nawaz Ali
Major Gainers
Symbol
Close
Change
NESTLE 3,001.90 FZTM 403.93 IDYM 218.56 COLG 1,006.98 ATLH 128.09
84.32 19.11 9.56 8.08 6.09
Major Losers
Symbol
Close
Change
SIEM 1,150.00 RMPL 2,274.27 ULEVER 4,629.07 PSEL 170.57 ILTM 125.00
-41 -30.73 -11.35 -8.92 -6
Top 5 Volume Leaders
Symbol LOTPTA PACE FFBL FFC NPL
Close Vol (mn) 15.38 3.39 41.07 156.16 17.88
47.53 12.51 7.93 5.60 5.57
Active Issues Plus Minus Unchanged
144 223 27 NEW YORK: Ivanka Trump (4th from R) and representatives of 100 Women in Hedge Funds visit the New York Stock Exchange.-Reuters
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)
33,929 32,092 7,087 6,813
INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753
HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075
DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%
OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)
PRICES (Ex-Refinery) MS (1 Dec 10) MS (1 Nov 10) MS % Chg Kerosene (1 Dec 10) Kerosene (1 Nov 10) Kerosene % Chg JP-1 (1 Dec 10) JP-1 (1 Nov 10) JP-1 % Chg HSD (1 Dec 10) HSD (1 Nov 10) HSD % Chg LDO (1 Dec 10) LDO (1 Nov 10) LDO % Chg Fuel Oil (1 Dec 10) Fuel Oil (1 Nov 10)
932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1
Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046
Nikkei slips 0.6pc, volume at 1-mth low TOKYO: Japan's Nikkei average dropped 0.6 per cent on Wednesday, with resource shares losing ground after a rate hike in India and a contraction in Britain's economy led to a pullback in commodity prices. Growing concerns over inflation in emerging economies, such as China and India, made both Japanese and foreign investors cautious about taking new positions in stocks ahead of a slew of corporate earnings announcements, pushing down daily turnover to its lowest this year. Trading volume fell to the lowest level since Dec. 30 -- the final trading day of last year -with only 1.63 billion shares changing hands on the Tokyo Stock Exchange's main board. That was sharply below Tuesday's volume of 1.97 billion
shares and last week's daily average of 2.15 billion. "Futures-led purchases had lifted the Nikkei over the past two days, but without them the market was pretty dull as many investors refrained from trading actively ahead of corporate earnings," said Hideyuki Ishiguro, a supervisor in Okasan Securities' investment strategy section. The benchmark Nikkei closed down 0.6 per cent, or 62.52 points, at 10,401.90. The broader Topix index fell 0.7 per cent, or 6.64 points, to 922.64. The Indian interest rate rise, expectations that China will soon lift rates, as well as expectations that this trend will continue as raw materials and food costs climb, hit commodities prices on Tuesday. See # 17 Page 11
ANNOUNCEMENTS Company Lotte Pakistan PTA Mirpurkhas Sugar Shahtaj Sugar Thal IndustriesXD
Period Yearly 1st Qtr 1st Qtr 1st Qtr
Div/Bon/Right 5%D -
PAT (Rs in mn) 4527.77 33.80 44.80 107.42
EPS(Rs) 2.99 4.00 3.73 7.15
Upbeat Obama inspires FTSE rally LONDON: Britain's top share index rebounded on Wednesday on hopes for stronger global growth after an upbeat speech overnight by US President Barack Obama and positive US housing data. The FTSE 100 closed up 51.50 points, or 0.9 per cent, at 5,969.21, after falling 0.4 per cent on Tuesday following news Britain's economy shrank 0.5 per cent in the fourth quarter of last year. US stocks were also higher by the close on the back of Obama's plans to lower corporate taxes and ahead of the latest Federal Reserve rate-setting policy meeting. "Concerns about growth prospects after yesterday's rise in interest rates in India and the shock fall in UK GDP had seen some risk aversion, but this See # 18 Page 11
Shanghai rebounds, Hong Kong up, but investors wary HONG KONG/SHANGHAI: Hong Kong shares rose for the first time in five days on Wednesday, though losses in banking heayweight HSBC and flagging turnover suggested investor confidence remained frail. The Hang Seng ended up 0.2 per cent, with HSBC the biggest drag on the benchmark index after an unexpected contraction in the UK economy hit shares of Europe's largest lender. HSBC's Hong Konglisted shares fell 1 per cent. The Shanghai Composite Index rose 1.2 per cent, but turnover shrunk to its lowest in four months as investors continued to worry that Beijing will unleash more policy tightening measures this year to cool inflation. The Shanghai index has lost 4.2 per cent this year, making it North Asia's worst performing equity market.
"It's quite normal for it to rebound following losses over the past few sessions. But if volume remains thin, the index has little potential to rise," said Chen Shaodan, a senior analyst at China Development Bank Securities in Beijing. Trading activity remained light ahead of the Lunar New Year holidays in early February, while foreign investors remain wary about Chinese shares after the Shanghai index lost more than 14 per cent last year. While short-selling of Hong Kong-listed mainland China companies, or H shares, has broadly slowed from levels late last year, exchange traded funds (ETF) have seen activity pick up. The most shorted, Chinarelated ETF is the iShares FTSE A50 which shows short interest is at a six-month high of 6.5 per cent, according to
Data Explorers. The data provider, which tracks short-selling activity across global markets, said that while the high short-interest for the ETF must be partly hedging, it also reflected recent nervousness about prospects for China's domestically listed shares. China Gezhouba Group Co Ltd , builder of the mammoth Three Gorges Dam, bounced 6.2 per cent after sliding on Tuesday, while Chongqing Three Gorges Water Conservancy and Electric Power jumped by its 10 per cent daily limit. In Hong Kong, the Hang Seng dipped in and out of positive territory in choppy trade. While the index has managed to stay above a medium-term upward trend line in place since its May 2010 low, a strong start to the year has stalled as mainland markets continue to underperform.-Reuters
KARACHI: Buying on hopes of strong corporate results gave bulls a reason to extend their stay at the Karachi stock exchange which ended higher on Wednesday. Foreign investors too boosted the market, analysts said. The main index of the exchange i.e. KSE 100-Index ended 27 points up at a level of 12,483 points while KSE 30Index gained 37 points and KSE All-Share index increased by 12 points to close at 12,216 and 8,651 points respectively. “Bullish activities sustained on institutional & foreign interest ahead of major earning announcements this week”, said Ahsan Mehanti, Director Arif Habib Investments. After a positive opening market stayed in the grip of bulls throughout the day led by buying in oil and banking stocks in anticipation of better than expected corporate results which are due to be announced in the coming days. On the
other side hopes of an early launch of much awaited leverage product too triggered buying therefore index at a moment touched an intraday high of 12,538 points (+ve 82 points). Pakistan Oilfield, Attock Refinery, National Refinery, Fauji Fertiliser Co and Attock Petroleum are the major companies that are scheduled to announce their corporate earnings during the week. Going forward, however, profit-taking at higher levels reduced the index gains and it ended the day with limited green numbers. Murtaza Jafar, equity dealer at Topline Securities said that profit taking was witnessed at inflated levels as investors preferred to book gains ahead of the Monetary Policy Announcement (MPS) due on 29th of January, which would give the market its future direction. Foreigners' interest remained intact and even improved as according to NCCPL, offshore investors did a net-buying of $4.41 million on Wednesday. See # 14 Page 11
Calendar Year 2010
Lotte net up 26.70pc Ahmed Siddique KARACHI: Lotte Pakistan PTA Limited (PPTA) - sole manufacturer & distributor of Pure Terephthalic Acid (PTA) - has posted a growth of 26.70 per cent in its profit after tax (PAT) for the calendar year 2010. Company’s PAT reached Rs4.52 billion against Rs3.57 billion in the same period of CY09. This translates into an earning per Share (EPS) of Rs2.99 as compared to Rs2.36 in CY09. Despite a 15-day plant shutdown and reduction in import duty from 7.5 per cent to 3 per cent, sales of the company went up by 12.02 per cent to stand at Rs42.40 billion against Rs37.85
billion in CY09 mainly due to higher PTA prices which averaged around $965/tonne in CY10 against $830/tonne a year earlier. This resulted into a surge of gross profit by 19.23 per cent to Rs7.03 billion compared to Rs5.89 billion in CY09. On the other hand, distribution and selling cost decreased by 9.4 per cent to Rs110 million against Rs121 million witnessed in CY09 mainly due to lower outward freight and handling charges borne by the company and lower export sales. Similarly, financial charges fell down by 69.6 per cent to Rs229 million against Rs755 million in the same See # 16 Page 11
US stocks late-morning
Wall St up as Obama talks; ears on Fed word NEW YORK: Stocks rose on Wednesday as US President Barack Obama's call for a lower corporate tax rate offset a weak outlook from Boeing. Investors awaited comments from the US Federal Reserve, which is expected to nod to an improving economic outlook as it reaffirms a plan to buy government debt to help speed the recovery. "The Fed continues to say even in an improving US economic environment it is going to continue its stimulus activity," said Tim Speiss, chairman of the personal wealth division at EisnerAmper in New York. "The market is reacting positively to continued Fed intervention." Boeing Co fell nearly 4 per cent, weighing on the Dow. Commodity shares got a boost after Allegheny Technologies Inc forecast stronger sales in 2011, helped by higher base prices for metals and a stronger aerospace and defense market. Allegheny rose 8.2 per cent to $63.16, leading the S&P materials sector .GSPM, which was up 1 per cent. In his State of the Union address to Congress on Tuesday night, Obama asked lawmakers to work with him to cut the corporate tax rate and simplify the tax code, moves that could lead to higher corporate profits. The Dow Jones industrial average dipped 3.94 points, or 0.03 per cent, to 11,973.25. The Standard & Poor's 500 Index gained 3.62 points, or 0.28 per cent, to 1,294.80. The Nasdaq Composite Index added 13.51 points, or 0.50 per cent, to 2,732.76. The Dow briefly traded above 12,000 for the first time since June 2008. Boeing dropped nearly 4 per cent to $69.44. The planemaker posted a drop in quarterly profit and offered a disappointing forecast partly due to delays in its new 787 Dreamliner. In the latest economic data, new US single-family home sales rose in December to their highest level in eight months. See # 15 Page 11
Dhiyan
IT’S GOING TO GREEN Muzammil Khan, AVP BMA Capital Outlook is bullish which would draw strength from expected better corporate results, therefore, technically index can touch 12,555 level in the coming days and if it manages to sustain there then we can see more rallies. Invest in those stocks of banking, fertiliser, and power sectors which are expected to announce good results where my top picks are UBL, FFC, and Kapco. Along with corporate results, launch of MTS would also trigger the market however a likely rise in interest rates would incur a negative reaction . Market would remain positive today.
Syed Faran Rizvi, Technical Analyst Invisor Securities Trading channel is bearish and we are foreseeing correction holding sway for a while. Owing to this it is feared that index could come down to 12,571 points level. Keeping this in view traders are recommended to sell but not without placing stop loss orders, which are a must. They are advised to sell in cement and oil sectors. Better corporate results and launch of Margin Trading System (MTS) are seen as the factors that will support the market. Market would be negative today.
6
Thursday, January 27, 2011
Market
Symbols
Volume
139,314,846
Value
5,880,484,206
Trades
65,555
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
144 223 27 394
All Share Index
12,483.34 12,538.63 12,455.75 h27.59
Current High Low Change
KSE 30 Index
8,651.24 8,690.73 8,638.78 h12.46
Current High Low Change
KMI 30 Index Current High Low Change
12,216.99 12,286.42 12,179.49 h37.50
20,356.45 20,452.61 20,278.95 h77.50
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,602.36 Turnover 5,663,820 P/E (x) 11.67 Company
KSE 100 Index
High Low 1,620.55 1,599.55 Total cos Defaulter cos P/BV (x) ROE (%) 3.80 32.54
PE
Open
High
Low
Attock Petroleum 691 6.76 Attock Refinery 853 7.66 BYCO Petroleum 3921 Mari Gas Company 735 17.95 National Refinery 800 4.64 Oil & Gas Development 43009 11.82 Pak Petroleum 11950 7.93 Pak Oilfields 2365 7.76 Pak Refinery Limited 350 P.S.O 1715 5.14 Shell Gas LPG 226 Shell Pakistan 685 10.88
393.09 137.66 10.83 133.24 315.33 173.77 215.51 327.32 112.13 304.33 32.54 214.00
394.95 139.25 10.94 136.25 318.97 175.00 218.50 334.97 113.50 306.78 33.00 215.90
389.80 136.20 10.70 131.60 312.00 173.35 216.12 327.50 111.50 303.00 32.52 211.60
Close Chg 390.06 136.61 10.74 132.46 313.20 174.73 216.82 328.57 111.56 303.60 32.52 212.13
-3.03 -1.05 -0.09 -0.78 -2.13 0.96 1.31 1.25 -0.57 -0.73 -0.02 -1.87
Close Change 1,607.87 5.51 Listed cap Market cap 65,194.15 mn 1,237,166.18 mn Payout (%) Div Yield (%) 55.94 4.80 Last 60 days High Low
Volume 156999 660466 357633 129306 22367 556514 747582 2365414 28114 983504 1072 12482
399.99 146.90 12.49 141.65 333.89 185.00 229.80 341.50 122.22 317.79 39.89 222.00
292.01 97.82 10.49 117.00 218.00 152.20 184.00 239.00 74.51 262.70 32.00 182.05
% Change 0.34 5-Day High 1,607.87 5-Day Low 1,589.97
2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
2011 Div BR (%) (%)
20B - 15.00 20B 50.00 -
-
CHEMICALS
Open 747.49 Turnover 16,600 P/E (x) 5.71 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
High Low 750.28 733.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.46 25.53
Close 739.06 Listed cap 3,242.17 mn Payout (%) 11.08
Change -8.43 Market cap 12,923.37 mn Div Yield (%) 1.94
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.18 39.78
72.74 36.80
72.99 36.99
71.10 36.55
71.79 -0.95 36.60 -0.20
9239 7361
77.77 39.45
68.00 32.36
Company
Company
Paid up Cap(mn)
PE
High Low 1,630.17 1,593.90 Total cos Defaulter cos P/BV (x) ROE (%) 3.43 35.00
Open
High
Low
Agritech Limited 3924 9.03 26.24 BOC (Pak) 250 13.12 97.09 Clariant Pak 273 7.19 188.75 Dawood Hercules 1203 8.50 204.68 Descon Chemical 1996 2.95 Descon Oxychem Ltd. 1020 8.06 Dewan Salman 3663 3.01 Engro Corporation Ltd 3277 11.66 214.88 Engro Polymer 6635 - 13.49 Fatima Fertilizer 22000 - 11.87 Fauji Fertilizer 6785 11.32 153.66 Fauji Fert.Bin Qasim 9341 7.75 41.82 Ghani Gases Ltd 725 8.94 11.67 ICI Pakistan 1388 8.48 149.05 Ittehad Chemical 360 9.45 24.12 Lotte Pakistan 15142 5.14 15.88 Mandviwala 74 1.44 Nimir Ind Chemical 1106 1.84 Sardar Chemical 60 1.10 Sitara Chem Ind 214 9.61 121.99 Sitara Peroxide 551 14.51 13.35 United Distributors 92 - 13.02 Wah-Noble 90 7.27 37.85
26.10 99.89 190.99 210.00 2.99 8.39 3.10 217.25 13.85 12.09 157.00 42.17 11.90 151.80 25.32 16.08 1.74 1.92 1.10 119.50 13.50 13.40 39.00
24.93 95.51 188.00 204.50 2.81 8.00 2.88 211.75 13.27 11.66 154.00 40.90 11.75 149.05 23.50 15.00 1.22 1.71 1.10 117.00 13.35 12.02 37.80
Close Chg 24.93 95.51 188.04 204.90 2.86 8.06 2.90 212.16 13.51 11.70 156.16 41.07 11.80 150.57 25.32 15.38 1.44 1.73 1.10 117.21 13.35 13.21 37.81
-1.31 -1.58 -0.71 0.22 -0.09 0.00 -0.11 -2.72 0.02 -0.17 2.50 -0.75 0.13 1.52 1.20 -0.50 0.00 -0.11 0.00 -4.78 0.00 0.19 -0.04
Close 1,608.20 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 61036 2048 7259 103023 39015 46659 1004352 2782859 831318 1058984 5598637 7926485 11401 323060 400 47527451 533 578696 3000 22276 32721 1300 5521
Change 3.82 Market cap 354,105.59 mn Div Yield (%) 4.99
26.73 103.94 209.98 215.00 3.74 9.25 4.24 222.80 15.87 12.64 157.00 43.99 13.07 158.49 36.00 16.49 2.50 2.74 1.40 139.40 14.69 13.48 41.99
20.26 75.00 149.72 165.73 2.11 5.40 1.47 174.70 13.00 9.16 106.01 30.18 11.00 123.50 23.50 10.07 1.01 1.36 0.90 101.00 12.08 8.51 32.00
% Change 0.24 5-Day High 1,608.20 5-Day Low 1,570.40
2010 Div BR (%) (%) 15 40 40 95 52.5 55 5 5 25 50
5B -
2011 Div BR (%) (%) -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,201.27 Turnover 15,744 P/E (x) 5.78 Company
High Low 1,200.78 1,171.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 7.47
Close 1,177.60 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 411
6.64
17.99 44.35
18.00 44.30
17.60 43.00
17.84 -0.15 43.02 -1.33
12189 3555
Century Paper Security Paper
Change -23.67 Market cap 3,263.72 mn Div Yield (%) 4.37
Last 60 days High Low 19.69 47.70
15.28 38.00
% Change -1.97 5-Day High 1,201.27 5-Day Low 1,177.60
2010 Div BR (%) (%) 50
-
2011 Div BR (%) (%) -
Paid up Cap(mn)
PE
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering Transmission
Open
144 5.83 77.61 101 5.91 195.22 247 30.76 32.81 626 8.90 122.00 890 2.19 598 21.12 25.18 450 3.40 4.81 200 7.16 4.56 1428 - 12.10 786 6.73 295.00 823 10.72 67.02 150 4.28 23.09 117 1.89
High
High Low 1,326.75 1,289.52 Total cos Defaulter cos P/BV (x) ROE (%) 1.23 25.35 Low
Close Chg
Close 1,296.70 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Change 4.07 Market cap 47,361.32 mn Div Yield (%) 4.22
Last 60 days High Low
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Metro Steel Siddiqsons Tin
PE
Open
High
Low
565 4.38 675 555 9.37 1199 18.76 310 785 10.34
28.80 2.70 15.02 53.05 13.50 9.08
29.70 2.75 15.10 52.89 14.50 9.28
27.90 2.60 14.90 51.00 12.56 9.00
Close Chg 28.00 2.75 14.99 51.60 13.83 9.10
-0.80 0.05 -0.03 -1.45 0.33 0.02
Close 1,024.32 Listed cap 3,596.11 mn Payout (%) 30.91
Change -23.03 Market cap 9,947.02 mn Div Yield (%) 8.95
Open 1,801.09 Turnover 127,672 P/E (x) 43.56 Company
Paid up Cap(mn)
Adam Sugar XD 58 AL-Noor Sugar XD 186 Dewan Sugar 365 Fecto Sugar 146 Habib SugarXDXB 750 Habib-ADM Ltd 200 J D W SugarXDXB 539 Mehran SugarXDXB 157 Mirza Sugar XD 141 Nestle Pakistan 453 Noon Pakistan 48 Noon Sugar 165 Premier Sugar XD 38 Quice Food 107 Shahmurad Sugar XD 211 Shahtaj Sugar 120 Shakarganj Mills 695 Tandlianwala 1177 UniLever Pakistan 665
Last 60 days High Low
Volume 74372 14001 5001 135618 3521 8703
30.60 3.29 16.51 62.20 14.50 10.70
24.00 2.50 13.30 44.00 5.61 8.51
2010 Div BR (%) (%) 30 55 7.5
20B -
2011 Div BR (%) (%) -
-
PE
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Safe Mix Concrete
PE
Open
High
Low
1828 866 6.12 858 182 3257 982 13.46 3891 3651 124.00 350 3.08 6933 15.12 502 3.86 1760 77 2319 32 1288 13126 3234 6.60 5261 1.24 541 3.66 2228 200 -
3.03 58.81 2.58 21.18 14.05 1.75 2.11 29.61 2.99 4.95 7.17 1.82 1.75 7.19 0.55 6.47 3.48 72.66 2.66 5.00 6.81 7.11
3.20 59.39 2.88 21.31 14.00 1.87 2.19 30.08 2.96 5.00 7.50 1.88 1.90 7.19 0.81 6.30 3.53 73.70 2.74 4.98 6.89 7.40
3.02 58.02 2.60 21.00 13.32 1.72 2.10 29.65 2.41 4.90 7.35 1.78 1.36 6.20 0.52 6.26 3.39 72.66 2.65 4.98 6.64 6.50
Close 975.49 Listed cap 54,792.74 mn Payout (%) 19.04
Change 4.20 Market cap 68,817.70 mn Div Yield (%) 2.46
Close Chg
Volume
Last 60 days High Low
3.03 58.15 2.62 21.05 14.00 1.75 2.10 29.76 2.59 4.99 7.42 1.78 1.68 7.19 0.55 6.30 3.40 73.46 2.66 4.98 6.88 7.40
13218 6342 2111 5773 1200 3356 93761 1407939 2105 249995 1000 18273 27502 11010 3822 14005 715078 392044 46579 324 8011 58102
3.98 65.99 4.24 24.16 24.80 2.49 3.10 32.30 4.00 5.55 8.20 2.25 4.00 9.19 1.08 8.70 3.88 79.98 3.30 8.89 8.50 7.95
0.00 -0.66 0.04 -0.13 -0.05 0.00 -0.01 0.15 -0.40 0.04 0.25 -0.04 -0.07 0.00 0.00 -0.17 -0.08 0.80 0.00 -0.02 0.07 0.29
2.80 57.60 1.10 15.00 13.32 1.50 1.43 26.60 2.21 4.72 5.10 1.60 1.18 2.70 0.25 5.92 2.79 70.75 2.65 3.21 6.52 5.25
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 -
% Change 0.43 5-Day High 983.96 5-Day Low 960.57 2011 Div BR (%) (%) -
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,055.05 Turnover 256,385 P/E (x) 2.91 Company
Paid up Cap(mn)
Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Siemens Engineering Syed Match Tri-Pack Films
PE
Open
High
Low
Close Chg
115 2.55 72.38 73.10 71.10 71.69 -0.69 230 2.60 2.70 2.40 2.69 0.09 1067 4.78 52.35 51.99 51.90 51.98 -0.37 389 2.95 3.10 3.10 3.10 0.15 47 71.63 27.29 28.65 28.00 28.65 1.36 844 68.28 132.02 136.00 132.00 133.14 1.12 82 11.66 1191.00 1250.00 1132.00 1150.00-41.00 3 - 13.50 12.50 12.50 12.50 -1.00 300 9.98 139.34 138.95 136.10 136.79 -2.55
Volume
Change -10.88 Market cap 39,284.80 mn Div Yield (%) 5.35
Last 60 days High Low
7072 83.23 46.02 38858 3.30 1.82 788 56.45 45.30 1601 4.05 2.20 64156 28.65 16.51 133645 136.74 101.00 296 1381.00 1132.00 500 13.50 11.50 9469 141.90 100.00
2010 Div BR (%) (%) 20 25 900 -
25B 10B -
% Change -1.03 5-Day High 1,055.05 5-Day Low 1,040.98 2011 Div BR (%) (%) -
-
High
Low
Close Chg -0.54 2.00 -0.39 1.25 -0.04 -0.01 -1.14 -0.41 -0.08 84.32 -0.67 -0.34 -2.16 0.14 0.57 -3.76 -0.33 -2.06 -11.35
Volume
Last 60 days High Low
5990 20.50 13.00 501 54.00 41.30 17241 5.59 1.50 1556 55.00 28.00 18350 36.50 22.00 2000 13.00 11.50 1860 92.50 68.26 3020 68.49 52.60 4940 7.18 4.26 209 3055.00 1830.00 400 27.30 17.51 21318 14.84 9.00 1251 53.81 34.29 40500 3.50 2.02 335 13.50 9.00 536 100.26 56.01 2325 7.88 4.06 4450 42.52 29.03 480 4818.00 3876.00
Open 1,098.77 Turnover 127,126 P/E (x) 2.70 Company
Paid up Cap(mn)
High Low 1,119.56 1,089.17 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 10.64
PE
Open
High
Low
Gauhar Engineering Ltd 22 Hussain Industries 106 Pak Elektron 1219 3.62 Singer Pak 341 21.74 Tariq Glass Ind 231 2.49
1.00 6.22 14.41 19.46 20.60
0.75 6.60 14.64 20.40 21.10
0.75 5.32 14.35 19.00 20.70
Close Chg 0.75 6.05 14.38 19.35 20.85
-0.25 -0.17 -0.03 -0.11 0.25
Close 1,096.51 Listed cap 3,763.71 mn Payout (%) 6.27
PE
Open
215 5.63 234.09 104 - 44.15 214 1.40 213 11.43 12.44 124 - 130.78 132 7.13 60.00 366 7.13 538.91
High
Low
Close Chg
Volume
235.48 234.00 235.00 0.91 44.00 43.80 43.81 -0.34 1.40 1.31 1.38 -0.02 12.35 12.20 12.34 -0.10 136.00 128.00 129.71 -1.07 60.73 59.05 59.54 -0.46 550.19 541.00 544.97 6.06
14352 2040 13889 2415 503 2410 101017
Change 16.76 Market cap 34,206.81 mn Div Yield (%) 15.35
Last 60 days High Low 244.95 47.85 2.40 13.55 147.89 75.89 568.40
201.25 42.90 0.21 10.55 117.80 58.55 472.00
2010 Div BR (%) (%) 150 25 650
10B 25B
-
-
-
% Change 0.44 5-Day High 1,809.00 5-Day Low 1,775.29 2011 Div BR (%) (%)
25 50 25 25B 40 7010B 12.5R 35 20B 7.50 10 450 12 10 10 178 -
-
4,958.87
MA (100-day)
2.43
Revenue (Rs in mn)
5,061.63
MA (200-day)
2.92
Interest Expense
1st Support
1.50
Loss after Taxation
2nd Support
1.38
EPS 09 (Rs)
5,490.40
1st Resistance
1.82
Book value / share (Rs)
2nd Resistance
2.02
PE 10 E (x)
Pivot
1.70
PBV (x)
(4,227.75) (4.446) 5.22 0.31
KASBB closed down -0.17 at 1.60. Volume was 1,801 per cent above average (trending) and Bollinger Bands were 168 per cent wider than normal. The company's loss after taxation stood at Rs1.571 billion which translates into a Loss Per Share of Rs2.20 for the nine months of current calendar year (9MCY10). KASBB is currently 45.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of KASBB (bearish). Trend forecasting oscillators are currently bearish on KASBB. Momentum oscillator is currently indicating that KASBB is currently in an oversold condition.
NetSol Technologies Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
73.38
Total Assets (Rs in mn)
3,980.15
MA (10-day)
24.43
Total Equity (Rs in mn)
3,337.21
MA (100-day)
19.38
Revenue (Rs in mn)
1,845.02
MA (200-day)
23.04
Interest Expense
1st Support
25.05
Profit after Taxation
951.86
2nd Support
24.50
EPS 10 (Rs)
12.217
1st Resistance
26.20
24.80
Book value / share (Rs)
42.83
2nd Resistance
26.80
PE 11 E (x)
2.43
Pivot
25.65
PBV (x)
0.60
NETSOL closed up 0.40 at 25.67. Volume was 130 per cent above average and Bollinger Bands were 304 per cent wider than normal. The company's profit after taxation stood at Rs194.76 million which translates into an Earning Per Share of Rs2.64 for the 1st quarter of current fiscal year (1QFY11). NETSOL is currently 11.3 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into NETSOL (bullish). Trend forecasting oscillators are currently bullish on NETSOL. Momentum oscillator is currently indicating that NETSOL is currently in an overbought condition.
Volume 500 6521 74433 910 44761
Last 60 days High Low
2010 Div BR (%) (%)
1.65 11.49 15.88 20.79 22.50
17.5
0.40 5.20 12.90 17.55 15.90
10B -
% Change -0.21 5-Day High 1,098.77 5-Day Low 1,092.68 2011 Div BR (%) (%) -
-
PERSONAL GOODS Performance of SR Personal Goods Index Open 1,005.30 Turnover 7,629,391 P/E (x) 7.19 Company
Paid up Cap(mn)
(Colony) Thal Accord Textile AL-Qadir Textile Amtex Limited Artistic Denim Azam Textile Azgard Nine Babri Cotton Bata (Pak) Chenab Limited Chenab Ltd Pref Colgate Palm Colony Mills Ltd Crescent Jute D M Textile D S Ind Ltd Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning Fazal Textile Gul Ahmed Textile Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Indus Dyeing Island Textile Janana D Mal Kohat Textile Kohinoor Ind Kohinoor Spinning Kohinoor Textile Liberty Mills Mehmood Textile Moonlite (PAK) Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Ravi Textile Reliance Weaving Sally Textile Samin Textile Sana Ind Sargodha Spinning Service Ind Shadman Cot Shahpur Textile Shahtaj Textile Shams Textile Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zil Limited
56 93 76 2594 840 133 4493 33 76 1150 800 316 2442 238 31 600 514 34 110 62 635 716 3105 99 180 181 5 43 208 303 1300 1455 226 150 22 145 1614 3516 560 174 62 250 308 88 267 55 312 120 176 140 97 86 307 418 215 400 53
PE 9.23 6.35 0.36 0.46 5.27 37.80 3.83 47.81 0.24 0.64 3.22 4.31 0.73 3.97 0.76 3.51 2.13 0.11 0.24 0.45 0.38 3.58 3.52 0.80 1.91 5.71 3.55 0.71 0.50 0.61 0.20 5.33 3.23 0.66 7.85 2.37 0.35 0.76 5.38 9.30 0.52 3.45
Open
High
High Low 1,012.77 997.31 Total cos Defaulter cos P/BV (x) ROE (%) 0.62 8.64 Low
Close Chg
1.33 1.05 1.00 1.05 -0.28 0.70 0.99 0.99 0.99 0.29 7.90 8.90 7.40 7.80 -0.10 4.09 4.17 4.04 4.06 -0.03 22.96 23.40 22.70 22.86 -0.10 2.63 2.61 2.61 2.61 -0.02 11.94 12.10 11.40 11.48 -0.46 11.50 12.19 11.21 11.24 -0.26 639.95 645.00 635.00 635.26 -4.69 3.10 3.10 2.92 3.02 -0.08 2.78 2.31 2.25 2.25 -0.53 998.90 1008.00 980.01 1006.98 8.08 2.54 2.65 2.33 2.45 -0.09 0.95 1.19 0.95 1.16 0.21 2.88 2.90 2.51 2.90 0.02 1.73 1.79 1.65 1.74 0.01 41.75 41.50 40.62 40.64 -1.11 7.48 8.38 6.48 7.86 0.38 20.73 21.00 21.00 21.00 0.27 384.82 404.06 390.00 403.93 19.11 29.01 30.40 30.00 30.00 0.99 4.00 3.91 3.85 3.86 -0.14 48.94 51.30 47.53 50.47 1.53 8.51 9.00 8.30 8.95 0.44 3.70 3.65 3.01 3.23 -0.47 209.00 219.45 209.00 218.56 9.56 131.00 125.00 125.00 125.00 -6.00 15.00 15.15 14.15 14.74 -0.26 1.67 0.86 0.85 0.85 -0.82 1.59 1.60 1.47 1.56 -0.03 1.19 1.69 1.05 1.05 -0.14 5.05 5.29 4.90 5.01 -0.04 69.00 71.00 67.00 67.00 -2.00 65.00 68.25 65.00 65.25 0.25 11.21 11.98 10.21 10.34 -0.87 0.44 0.67 0.30 0.37 -0.07 23.11 23.48 22.91 22.97 -0.14 66.16 67.40 66.30 66.50 0.34 10.55 11.00 10.40 10.50 -0.05 9.60 10.00 9.70 9.70 0.10 31.49 31.50 31.50 31.50 0.01 1.41 1.47 1.40 1.43 0.02 9.03 9.45 8.70 8.70 -0.33 4.03 3.96 3.95 3.96 -0.07 5.60 6.60 5.60 6.40 0.80 43.68 43.49 42.51 42.56 -1.12 3.01 3.49 3.00 3.42 0.41 229.25 231.99 229.13 229.41 0.16 12.60 13.60 13.00 13.00 0.40 0.37 0.25 0.20 0.25 -0.12 19.20 19.50 19.50 19.50 0.30 23.88 23.00 23.00 23.00 -0.88 120.78 126.81 120.00 125.89 5.11 58.65 59.40 58.32 58.38 -0.27 0.61 0.66 0.61 0.61 0.00 1.66 1.76 1.25 1.51 -0.15 54.20 53.00 51.51 51.55 -2.65
Open 942.71 Turnover 60,910 P/E (x) 7.32
% Change 1.07 5-Day High 1,582.37 5-Day Low 1,541.36 2011 Div BR (%) (%)
2010 Div BR (%) (%)
Change -2.26 Market cap 5,196.74 mn Div Yield (%) 2.32
Close 1,004.15 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -1.14 Market cap 140,193.53 mn Div Yield (%) 2.32
Last 60 days High Low
1002 1.90 500 0.99 2983 9.00 273714 7.95 5202 24.59 1000 3.00 4207184 12.84 3000 17.85 225 747.48 52004 3.90 9801 3.00 544 1020.00 3834 3.20 34325 1.38 2111 3.00 66648 2.37 527 47.00 2860 8.90 1000 21.78 604 490.05 3624 33.19 9000 4.73 30987 51.30 103 9.50 12020 3.90 1161 350.15 149 192.00 3004 19.24 1996 1.99 24316 2.00 5400 1.81 6648 5.97 1450 71.00 8656 70.30 2301 14.20 36317 0.95 568206 25.14 1584237 71.89 301753 11.00 20372 11.10 6700 31.50 15210 1.98 1749 10.50 1000 5.75 8504 6.87 155 49.66 7653 3.50 2226 276.50 5005 13.60 275 1.00 1000 20.00 49951 27.00 143207 132.00 20725 63.30 2000 1.50 69667 2.00 3210 59.25
Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
8.51 100.00 6.82 90.10 14.53 80.00 7.80 28.20 7.78 9.43 12.48 158.13 5.58 63.42
High
High Low 958.18 924.40 Total cos Defaulter cos P/BV (x) ROE (%) 1.63 22.31 Low
Close Chg
102.50 96.15 97.12 -2.88 90.50 88.10 90.35 0.25 81.60 79.30 80.77 0.77 28.25 28.02 28.15 -0.05 9.88 9.01 9.65 0.22 160.00 152.50 156.85 -1.28 63.98 62.01 62.06 -1.36
Close 937.10 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 38587 315 4755 925 8115 603 7609
Change -5.61 Market cap 31,440.10 mn Div Yield (%) 6.09
Last 60 days High Low 112.50 94.90 89.98 30.48 9.88 164.99 69.00
2010 Div BR (%) (%)
0.52 0.70 4.05 10 4.00 30 19.10 20 1.32 7.5 9.20 8.10 - 15B 544.00 2.90 1.21 780.00 2.16 0.16 1.45 1.62 36.10 5 2.90 18.51 35 371.02 100 23.55 12.5 3.31 10 36.00 20 3.00 2.70 10 188.01 50 94.50 50 13.25 0.51 1.10 0.16 5 4.82 55.50 30 51.46 60 4.50 0.14 20.25 15 50.25 25 45R 6.00 8.00 10 10B 25.00 50 1.26 8.50 25SD 3.57 10 5.11 - 100R 30.00 60 1.50 5 169.00 7.00 0.18 16.00 45 16.00 20 86.50 80 20B 44.28 0.52 1.00 42.30 35 -
PHARMA AND BIO TECH
Close 1,582.37 Listed cap 1,336.62 mn Payout (%) 131.49
-
59,223.06
Total Equity (Rs in mn)
Dewan Farooque Motors Limited
Performance of SR Pharma and Bio Tech Index
High Low 1,597.44 1,568.54 Total cos Defaulter cos P/BV (x) ROE (%) 3.26 38.02
20B 20B -
Change 7.91 Market cap 257,167.26 mn Div Yield (%) 0.70
INDUSTRIAL ENGINEERING
Paid up Cap(mn)
AL-Ghazi Tractor Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB
Close 1,044.16 Listed cap 3,043.31 mn Payout (%) 15.55
Open
Close 1,809.00 Listed cap 11,335.33 mn Payout (%) 30.57
Performance of SR Industrial Engineering Index Open 1,565.62 Turnover 136,639 P/E (x) 8.56 Company
High Low 1,081.69 1,034.31 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91
90 100 20 150 10 -
Total Assets (Rs in mn)
2.12
HOUSEHOLD GOODS
CONSTRUCTION AND MATERIALS High Low 984.29 964.82 Total cos Defaulter cos P/BV (x) ROE (%) 0.55 7.10
65.75 152.70 15.00 96.00 1.20 21.00 4.12 4.01 10.90 230.00 66.75 17.92 1.31
2011 Div BR (%) (%)
23.13
MA (10-day)
Performance of SR Household Goods Index
Performance of SR Construction and Materials Index Open 971.29 Turnover 3,023,617 P/E (x) 7.74
102 82.63 2490 204.40 3493 34.45 9357 143.80 169044 2.89 6710 26.74 2006 5.67 1763 5.75 18599 13.40 57520 309.73 35182 77.90 16164 23.20 12390 2.88
High Low 1,831.49 1,780.80 Total cos Defaulter cos P/BV (x) ROE (%) 13.20 30.30
0.95 15.79 15.25 15.20 15.25 3.80 50.00 52.00 49.99 52.00 3.90 3.89 3.44 3.51 - 28.00 29.40 29.00 29.25 5.11 22.80 22.99 22.75 22.76 11.24 12.15 12.15 12.11 12.14 2.42 69.50 69.50 68.26 68.36 1.84 56.92 57.00 56.51 56.51 4.56 4.85 4.26 4.48 32.97 2917.58 3055.00 2901.00 3001.90 3.43 24.70 24.05 24.00 24.03 - 10.12 10.90 9.25 9.78 4.00 43.25 42.50 41.09 41.09 6.93 2.91 3.50 3.00 3.05 6.86 9.92 10.50 9.95 10.49 4.80 75.39 73.00 71.63 71.63 5.50 6.15 5.10 5.17 363.64 42.06 41.00 40.00 40.00 21.61 4640.42 4670.00 4576.11 4629.07
-
% Change -2.20 5-Day High 1,085.12 5-Day Low 1,024.32
78.99 77.00 77.01 -0.60 198.00 195.10 197.99 2.77 34.45 34.45 34.45 1.64 128.10 126.00 128.09 6.09 2.33 2.12 2.15 -0.04 25.45 24.50 24.50 -0.68 4.97 4.72 4.90 0.09 4.80 4.25 4.58 0.02 12.30 11.52 11.76 -0.34 302.00 294.00 294.99 -0.01 69.50 67.10 67.32 0.30 23.20 22.67 22.93 -0.16 1.95 1.31 1.63 -0.26
2010 Div BR (%) (%)
% Change 0.31 5-Day High 1,303.53 5-Day Low 1,292.63
RSI (14-day)
FOOD PRODUCERS
Performance of SR Industrial Metals and Mining Index High Low 1,059.42 1,012.68 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 33.10
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis
Performance of SR Food Producers Index
INDUSTRIAL METALS AND MINING Open 1,047.35 Turnover 241,216 P/E (x) 3.45
-
Performance of SR Automobile and Parts Index
Performance of SR Chemicals Index Open 1,604.38 Turnover 58,943,613 P/E (x) 9.79
-
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS Open 1,292.63 Turnover 334,892 P/E (x) 4.84
KASB Bank Limited
% Change -1.13 5-Day High 765.59 5-Day Low 739.06
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
96.15 82.20 69.00 23.50 7.16 116.00 59.00
2010 Div BR (%) (%) 20 30
20B -
% Change -0.11 5-Day High 1,006.60 5-Day Low 1,002.44 2011 Div BR (%) (%) -
-
% Change -0.60 5-Day High 969.88 5-Day Low 937.10 2011 Div BR (%) (%) -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
45.04
Total Assets (Rs in mn)
MA (10-day)
2.25
Total Equity (Rs in mn)
(747.01)
MA (100-day)
1.74
Revenue (Rs in mn)
1,025.34
MA (200-day)
1.81
Interest Expense
1st Support
2.07
Loss after Taxation
2nd Support
1.99
EPS 10 (Rs)
1st Resistance
2.28
Book value / share (Rs)
2nd Resistance
2.41
PE 11 E (x)
Pivot
2.20
PBV (x)
4,204.55
8.92 (437.50) (4.917) (8.40) (0.26)
DFML closed down -0.04 at 2.15. Volume was 74 per cent below average (consolidating) and Bollinger Bands were 46 per cent narrower than normal. The company's loss after taxation stood at Rs41.81 million which translates into a Loss Per Share of Rs0.47 for the 1st quarter of current fiscal year (1QFY11). DFML is currently 18.5 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DFML at a relatively equal pace. Trend forecasting oscillators are currently bearish on DFML.
WorldCall Telecom Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
44.28
Total Assets (Rs in mn)
17,566.02
MA (10-day)
2.83
Total Equity (Rs in mn)
11,379.05
MA (100-day)
2.66
Revenue (Rs in mn)
MA (200-day)
3.07
Interest Expense
1st Support
2.59
Loss after Taxation
2nd Support
2.49
EPS 09 (Rs)
(0.57)
1st Resistance
2.85
Book value / share (Rs)
13.22
2nd Resistance
3.01
PE 10 E (x)
Pivot
2.75
PBV (x)
8,408.28 523.03 (490.82)
0.20
WTL closed down -0.15 at 2.69. Volume was 59 per cent below average (consolidating) and Bollinger Bands were 11 per cent narrower than normal. . The company's loss after taxation stood at Rs744.23 million which translates into a Loss Per Share of Rs0.86 for the nine months of current calendar year (9MCY10). WTL is currently 12.2 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of WTL at a relatively equal pace. Trend forecasting oscillators are currently bearish on WTL.
BOOK CLOSURES Company
From
To
Noon Sugar Mills (TFC) United Bank J. K. Spng Mills # (TFC) United Bank Khairpur Sugar Mills Husein Sugar Mills Arif Habib Investments # Summit Bank Quice Food Ind. Mubarak Tex Mills # Husein Industries First Cap Mutual Fund # Olympia Spng. Weaving Mills #
27-Jan 27-Jan 28-Jan 29-Jan 29-Jan 29-Jan 01-Feb 01-Feb 01-Feb 05-Feb 06-Feb 07-Feb 18-Feb
03-Feb 09-Feb 02-Feb 12-Feb 05-Feb 04-Feb 07-Feb 08-Feb 07-Feb 12-Feb 12-Feb 14-Feb 26-Feb
D/B/R 20(R) -
Spot AGM/Date 24-Jan -
31-Jan 31-Jan 29-Jan 29-Jan 07-Feb 07-Feb 09-Feb 10-Feb 14-Feb 26-Feb
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Johnson & Phillips Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Grays of Cambridge Pak Tobacco Shifa Int.Hospitals Eye Television P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 11.73 55.9 3.31 90.71 155.01 48.9 114.99 31.9 20.42 2.48 45.97 3.17 25.27
High 12.4 55 3.4 92.9 162.76 51.34 114 32.9 20.5 2.53 46.74 3.53 26.25
Low Close 10.73 54 3.2 88.5 152 48.2 114 31.01 19.58 2.4 44.16 3.12 25.1
11.78 54 3.22 90.25 159.57 50 114 31.06 20.37 2.49 46 3.39 25.67
Change 0.05 -1.9 -0.09 -0.46 4.56 1.1 -0.99 -0.84 -0.05 0.01 0.03 0.22 0.4
Vol
1204 2705 925186 3029 61256 152 181 250 8910 180812 315 12510106 1281599
7
Thursday, January 27, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,146.32 Turnover 2,763,083 P/E (x) 6.17 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,159.52 1,127.70 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
78 4.88 37740 12.82 3000 0.65 8606 6175 -
79.50 19.40 2.18 2.84 3.82
79.00 19.58 2.30 2.91 3.97
78.30 19.15 2.17 2.65 3.80
79.00 19.23 2.17 2.69 3.82
-0.50 -0.17 -0.01 -0.15 0.00
Close 1,133.14 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 301 1872593 216505 673684 72774
Change -13.19 Market cap 78,518.13 mn Div Yield (%) 10.15
% Change -1.15 5-Day High 1,152.56 5-Day Low 1,133.14
Last 60 days High Low
2010 Div BR (%) (%)
98.99 20.65 2.67 3.45 4.65
80 17.5 1 -
76.50 18.21 2.12 2.40 3.35
2011 Div BR (%) (%)
-
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Shaheen Insurance
204 6.24 369 5.93 279 8.94 457 6.73 1250 400 3.21 791 16.08 3000 47.05 250 2.12 350 303 6.48 200 -
10.75 37.33 80.50 11.00 41.81 13.73 60.38 18.42 7.97 9.71 11.98 11.99
Paid up Cap(mn)
Company
PE
Open
High
Low
Genertech 198 Hub Power 11572 7.10 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 10.46 Kohinoor Power 126 2.79 Kot Addu Power 8803 5.31 Nishat Chunian Power Ltd 3673 3.65 Nishat Power Ltd 3541 28.84 Sitara Energy Ltd 191 3.40 Southern Electric 1367 Tri-star Power XD 150 -
0.76 38.44 1.72 2.95 19.10 4.32 43.82 16.65 17.61 18.18 2.13 0.93
0.84 39.00 1.75 3.00 19.19 4.77 44.00 17.30 18.40 18.32 2.20 0.94
0.75 38.35 1.68 2.87 18.70 4.21 43.65 16.60 17.63 18.25 2.12 0.81
Close 1,340.84 Listed cap 95,369.29 mn Payout (%) 104.13
Change 4.50 Market cap 110,231.25 mn Div Yield (%) 7.08
Close Chg
Volume
Last 60 days High Low
0.76 38.74 1.70 2.88 18.83 4.58 43.69 16.65 17.88 18.25 2.15 0.90
16502 710176 64223 553602 13348 25081 61550 1872445 5569968 3700 155749 5004
1.18 41.20 2.15 3.55 23.00 5.39 45.85 18.01 18.70 19.50 2.80 1.75
0.00 0.30 -0.02 -0.07 -0.27 0.26 -0.13 0.00 0.27 0.07 0.02 -0.03
0.73 33.15 1.50 2.07 17.95 4.01 39.00 12.32 13.10 17.89 2.05 0.75
% Change 0.34 5-Day High 1,340.84 5-Day Low 1,330.12
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
-
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,612.21 Turnover 328,397 P/E (x) 10.28 Company Sui North Gas Sui South Gas
High Low 1,628.32 1,606.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 11.41
Close 1,609.41 Listed cap 12,202.80 mn Payout (%) 66.79
Change -2.81 Market cap 34,332.56 mn Div Yield (%) 6.50
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
8.42 3.37
28.28 22.51
28.45 22.85
28.25 22.36
28.30 0.02 22.40 -0.11
16200 312197
34.75 26.00
25.71 19.95
% Change -0.17 5-Day High 1,632.49 5-Day Low 1,598.54
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,199.90 Turnover 18,935,889 P/E (x) 8.56 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 6.98 72.40 Askari Bank 6427 8.79 18.49 Bank Alfalah 13492 14.78 11.56 Bank AL-Habib 7322 8.19 37.86 Bank Of Khyber 5004 5.35 4.00 Bank Of Punjab 5288 9.15 BankIslami Pak 5280 980.00 4.05 Faysal Bank 7309 4.86 15.16 Habib Bank Ltd 10019 7.63 123.50 Habib Metropolitan Bank 8732 8.26 26.73 JS Bank Ltd 8150 2.50 KASB Bank Ltd 9509 1.77 MCB Bank Ltd 7602 10.34 232.40 Meezan Bank 6983 10.05 19.00 Mybank Ltd 5304 3.07 National Bank 13455 6.83 76.71 NIB Bank 40437 2.89 Samba Bank 14335 2.00 Silkbank Ltd 26716 2.62 Soneri Bank 6023 7.38 Stand Chart Bank 38716 11.85 7.85 Summit Bank LtdSPOT 7251 4.07 United Bank Ltd 12242 8.07 68.79
High
High Low Close 1,216.97 1,194.83 1,202.81 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.19 13.94 40.49 Low
Close Chg
72.90 71.50 71.85 -0.55 18.80 18.41 18.45 -0.04 11.87 11.49 11.53 -0.03 38.00 37.75 37.98 0.12 4.05 3.95 4.01 0.01 9.30 9.00 9.07 -0.08 4.04 3.90 3.92 -0.13 15.30 15.00 15.08 -0.08 124.01 122.00 122.16 -1.34 27.20 26.60 27.00 0.27 2.49 2.38 2.40 -0.10 1.90 1.58 1.60 -0.17 235.48 232.50 233.25 0.85 19.28 18.55 19.00 0.00 3.17 3.00 3.00 -0.07 78.50 76.85 78.18 1.47 2.92 2.85 2.85 -0.04 2.04 1.96 2.00 0.00 2.69 2.60 2.60 -0.02 7.55 7.27 7.48 0.10 8.00 7.70 7.70 -0.15 4.07 3.86 3.90 -0.17 69.74 68.20 68.66 -0.13
Volume
Change 2.92 Market cap 720,898.64 mn Div Yield (%) 4.73
Last 60 days High Low
46467 74.00 429781 19.25 3793821 11.97 78002 39.49 5744 4.70 1538347 10.59 42899 4.50 142938 17.10 202293 128.97 1228 29.28 130281 3.00 3536344 2.80 787194 250.48 18662 20.30 12540 3.40 5085918 80.61 579599 3.35 365005 2.17 725891 3.05 5975 8.48 40812 9.04 225515 4.63 1366147 70.65
54.96 14.96 9.11 31.50 3.16 8.34 3.00 14.01 100.05 19.70 2.38 1.58 199.00 14.50 1.90 63.53 2.59 1.51 2.50 6.82 6.33 2.70 55.25
% Change 0.24 5-Day High 1,202.81 5-Day Low 1,191.73
2010 Div BR (%) (%)
Open 833.64 Turnover 38,977 P/E (x) 5.69
-
-
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 814.93 Turnover 1,801,663 P/E (x) 13.58 Paid up Cap(mn)
Company Adamjee Insurance
High Low 823.12 810.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.71 5.20
Close 813.22 Listed cap 11,111.34 mn Payout (%) 79.54
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 27.50
94.47
95.60
94.43
94.88 0.41
1396946
96.35
66.50
% Change -0.21 5-Day High 814.93 5-Day Low 799.37
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
3961 21437 1086 4501 9342 1720 5150 330828 15705 7250 3100 535
12.75 40.00 83.00 12.00 47.90 15.50 61.80 19.40 8.97 10.75 12.93 14.53
10.00 32.10 51.25 9.65 39.48 11.00 53.38 14.00 5.61 2.61 9.00 11.50
10 -
25R 10B -
-
UP TO 100 VOLUME
-
High Low 838.71 815.31 Total cos Defaulter cos P/BV (x) ROE (%) 3.55 3.85
Close 817.31 Listed cap 2,290.72 mn Payout (%) 355.53
Change -16.33 Market cap 9,561.44 mn Div Yield (%) 3.86
Symbols BTL DADX MQTM PNGRS UVIC WAZIR GADT CLOV EXIDE LEUL RMPL GRYL SCLL TRIBL BUXL ATFF ESBL BAPL MFFL FCONM LPGL PAKMI SANSM AGSML PSEL ZAHT PECO STCL GATI ADOS ARPAK CHAS CWSM MUCL PMI SIBL CHCC TICL BNWM DSML NBF UPFL BAFS BAWS BWHL CRTM CSIL CSUML DCM DFSM DIIL DINT DNCC DWTM DYNO FDMF FIBLM GUSM GVGL IGIIL JKSM KML LAKST MIRKS NMBL OTSU PGCL PHDL PTEC
% Change -1.96 5-Day High 845.07 5-Day Low 817.31
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
American Life
500
5.69
18.00
18.00
17.00
17.00 -1.00
1611
19.85
16.03
-
-
-
-
EFU Life Assurance
850 39.04
69.81
70.39
68.50
68.71 -1.10
8856
86.95
62.75
-
-
-
-
New Jub Life Insurance
627 29.58
45.00
45.10
44.00
44.07 -0.93
28510
49.31
39.95
-
-
-
2010 Div BR (%) (%)
2011 Div BR (%) (%)
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 423.63 Turnover 3,022,499 P/E (x) 11.82 Paid up Cap(mn)
Company
PE
Open
High Low 432.96 410.91 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 0.91
High
Low
Close Chg
Close 416.34 Listed cap 30,336.44 mn Payout (%) 99.56
Change -7.29 Market cap 19,314.08 mn Div Yield (%) 3.25
Last 60 days High Low
Volume
% Change -1.72 5-Day High 429.59 5-Day Low 410.54
2010 Div BR (%) (%)
2011 Div BR (%) (%)
AMZ Ventures
225
1.25
0.52
0.70
0.54
0.55 0.03
191164
0.95
0.33
-
-
-
-
Arif Habib Investments
360
4.04
21.39
21.68
20.35
20.53 -0.86
70056
22.40
16.00
-
20B
-
-
Arif Habib Limited
450 13.32
26.10
26.59
26.10
26.11 0.01
58548
28.00
24.40
-
20B
-
-
1507523 2527
30.20 2.75
22.80 1.28
30 -
-
-
-
-
-
-
-
Arif Habib Corp Dawood Equities First National Equity IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank
3750 250
4.90 -
27.18 2.14
27.59 2.15
26.50 2.00
26.67 -0.51 2.00 -0.14
575
-
7.30
7.44
6.66
7.32 0.02
609
10.70
6.42
2121 15.88
2.37
2.60
2.35
2.54 0.17
4611
3.90
2.01
-
-
-
600 790.00
7.90
8.89
7.90
7.90 0.00
3504
8.98
6.16
11.5
-
-
-
0.69 3.25
0.73 3.50
0.63 3.22
0.70 0.01 3.29 0.04
15158 163107
1.09 4.20
0.50 2.95
-
10B
-
-
50948
2849 3166
-
626
0.59
1.75
1.75
1.64
1.65 -0.10
2.14
1.05
-
-
-
-
Jah Siddiq Co JOV and CO
7633 508
-
12.00 3.90
12.17 3.98
11.61 3.82
11.67 -0.33 3.85 -0.05
2072668 76260
14.05 5.38
9.54 2.70
10 -
-
-
-
JS Global Cap
500
7.52
27.69
28.90
27.28
27.99 0.30
2505
32.37
25.75
-
-
-
-
JS Investment
1000 28.13
6.98
7.05
6.71
6.75 -0.23
122919
7.59
5.80
-
-
-
KASB Securities
1000
-
4.70
4.89
4.31
4.70 0.00
3577
5.43
3.86
-
-
-
-
Orix Leasing
821
4.79
6.40
6.53
6.52
6.52 0.12
200
7.29
5.25
-
-
-
-
Pervez Ahmed Sec Saudi Pak Leasing Trust Brokerage
775 452 100
-
2.08 0.72 3.39
2.11 0.78 3.75
1.90 0.47 3.11
1.93 -0.15 0.78 0.06 3.12 -0.27
179200 115 4602
2.70 0.97 4.00
1.68 0.41 1.42
-
-
-
-
-
Open 1,385.64 Turnover 573,616 P/E (x) 19.03 Paid up Cap(mn)
Company 1st Fid Leasing
High Low 1,402.02 1,368.99 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 2.21
Close 1,384.28 Listed cap 29,771.58 mn Payout (%) 104.74
PE
Open
High
Low
Close Chg
Volume
264 11.13
1.65
1.80
1.20
1.78 0.13
111858
Symbols
Change -1.37 Market cap 18,677.42 mn Div Yield (%) 8.55
Last 60 days High Low 2.00
% Change -0.10 5-Day High 1,408.18 5-Day Low 1,384.28
2010 Div BR (%) (%)
2011 Div BR (%) (%)
1.18
-
-
-
-
1375
7.26
8.61
8.71
8.62
8.71 0.10
1300
9.15
6.05
18.5
-
-
-
AL-Noor Modaraba
210
5.17
3.10
3.10
3.10
3.10 0.00
1700
3.80
2.30
5
-
-
-
B R R Guardian Mod.
780
3.93
1.70
1.74
1.51
1.73 0.03
188
2.79
1.06
0
-
-
-
Crescent St Modaraba
0.52
0.69
0.56
0.57 0.05
7606
0.87
AL-Meezan Mutual F.
200
1.43
0.16
1.2
Elite Cap Modaraba
113
3.43
3.00
2.74
2.74
2.74 -0.26
2000
3.49
1.73
5
-
-
-
Equity Modaraba
524 12.25
1.95
2.15
1.96
1.96 0.01
3610
2.98
1.06
-
-
-
-
-
-
-
-
-
-
First Capital Mutual Fund 300
8.65
4.44
3.50
3.44
3.46 -0.98
12204
5.50
2.55
-
Golden Arrow
760
2.32
3.34
3.40
3.20
3.25 -0.09
15115
3.60
2.56
17
-
-
-
H B L Modaraba
397
2.70
8.00
8.10
8.00
8.10 0.10
5493
9.00
5.65
11
-
-
-
Habib Modaraba
1008
6.04
7.00
7.10
7.00
7.01 0.01
21051
7.30
6.00
21
-
-
-
JS Growth Fund
3180 71.88
5.76
5.90
5.75
5.75 -0.01
25866
6.10
2.70
5
-
-
-
JS Value Fund
1186 19.39
5.50
5.60
5.40
5.43 -0.07
25033
5.70
2.70
10
-
-
-
Meezan Balanced Fund Mod Al-Mali Paramount Modaraba
283
1.75
2.71
3.50
2.06
2.38 -0.33
12416
3.50
1.26
2.8
-
-
-
1200
2.14
7.50
7.45
7.40
7.45 -0.05
17001
8.25
5.15
15.5
-
-
-
184 17.50
1.76
2.04
1.75
1.75 -0.01
3513
2.50
0.70
-
-
-
-
9.00
8.51
8.50
8.50 -0.50
200
9.30
7.57
18
-
-
59
6.64
-
PICIC Energy Fund
1000
2.06
7.10
7.10
7.01
7.10 0.00
7.80
5.25
10
-
-
-
PICIC Growth Fund
2835
9.10
14.14
14.29
14.10
14.20 0.06
122362
15.06
8.00
20
-
-
-
PICIC Inv Fund
2841
7.16
6.30
6.40
6.20
6.30 0.00
150990
7.14
3.67
10
-
-
-
Punjab Modaraba
340
-
1.38
1.42
1.35
1.35 -0.03
9202
2400
2.54
Open 60.00 22.00 9.00 4.77 3.32 7.50 70.00 69.59 190.01 2.40 2305.00 1.75 2.50 2.00 13.49 4.55 2.25 8.33 83.49 1.57 12.99 1.00 12.15 5.50 179.49 3.80 145.09 8.44 50.00 16.65 10.15 10.00 1.02 15.00 1.00 3.42 10.81 44.40 13.84 3.50 3.60 1170.09 60.50 5.50 32.50 17.82 4.10 3.60 1.45 3.50 10.23 26.64 2.01 9.50 11.25 2.23 2.00 6.25 27.00 92.50 6.51 2.47 292.00 51.01 1.66 34.50 25.50 34.22 2.28
High 62.00 21.25 9.89 4.55 3.10 7.30 72.90 70.00 195.00 2.00 2349.00 2.50 2.65 1.62 13.85 4.50 2.50 8.00 81.45 1.49 11.99 1.24 12.99 6.00 170.57 4.00 149.99 8.79 49.49 17.00 11.15 10.90 1.25 14.50 1.00 2.76 10.94 46.62 13.95 3.95 3.60 1220.95 60.50 6.43 34.12 17.80 4.98 3.60 1.90 4.34 9.64 27.00 1.85 10.50 11.80 2.35 2.00 6.00 26.00 93.00 6.30 2.89 295.00 53.00 1.65 35.50 25.95 33.56 2.40
Low
Close
57.00 21.25 9.25 4.55 3.10 7.30 69.50 68.50 191.09 2.00 2215.00 1.60 2.65 1.62 13.00 4.50 1.90 7.36 79.33 1.11 11.99 1.14 12.29 5.51 170.57 3.90 143.00 7.85 47.71 16.70 11.15 10.30 1.01 14.50 1.00 2.76 10.94 46.62 13.53 2.61 3.13 1168.00 60.50 5.94 34.10 17.80 4.89 3.60 1.79 4.34 9.64 27.00 1.73 10.00 11.22 2.24 2.00 6.00 26.00 93.00 6.30 2.88 289.80 51.00 1.65 35.50 25.95 32.51 2.35
57.13 21.25 9.88 4.55 3.10 7.30 71.45 70.00 191.09 2.00 2274.27 1.60 2.65 1.62 13.00 4.50 2.40 8.00 81.45 1.35 11.99 1.14 12.29 5.51 170.57 3.90 149.99 8.50 49.49 16.70 11.15 10.30 1.18 14.50 1.00 2.76 10.94 46.62 13.74 3.28 3.60 1168.00 60.50 5.94 34.10 17.80 4.89 3.60 1.79 4.34 9.64 27.00 1.85 10.00 11.22 2.24 2.00 6.00 26.00 93.00 6.30 2.88 289.80 51.00 1.65 35.50 25.95 33.56 2.35
Change
Vol
-2.87 -0.75 0.88 -0.22 -0.22 -0.20 1.45 0.41 1.08 -0.40 -30.73 -0.15 0.15 -0.38 -0.49 -0.05 0.15 -0.33 -2.04 -0.22 -1.00 0.14 0.14 0.01 -8.92 0.10 4.90 0.06 -0.51 0.05 1.00 0.30 0.16 -0.50 0.00 -0.66 0.13 2.22 -0.10 -0.22 0.00 -2.09 0.00 0.44 1.60 -0.02 0.79 0.00 0.34 0.84 -0.59 0.36 -0.16 0.50 -0.03 0.01 0.00 -0.25 -1.00 0.50 -0.21 0.41 -2.20 -0.01 -0.01 1.00 0.45 -0.66 0.07
100 100 100 100 100 100 83 77 71 70 65 55 55 55 52 51 45 34 31 26 20 14 13 10 10 10 8 8 7 5 5 5 5 5 5 5 3 3 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index
KASB Modaraba
Change -1.71 Market cap 49,730.75 mn Div Yield (%) 5.86
-0.45 -0.03 -1.81 -0.24 -0.26 -0.23 -0.73 -0.07 0.98 -0.61 0.01 -0.09
Paid up Cap(mn)
Company
2011 Div BR (%) (%)
20 - 20B - 66R 55 -63.46R 10 -
10.30 37.30 78.69 10.76 41.55 13.50 59.65 18.35 8.95 9.10 11.99 11.90
Performance of SR Life Insurance Index
ELECTRICITY High Low 1,356.10 1,330.36 Total cos Defaulter cos P/BV (x) ROE (%) 1.37 9.35
10.30 36.70 78.10 10.73 41.50 13.50 59.50 18.27 8.34 9.02 11.80 11.90
LIFE INSURANCE
-
Performance of SR Electricity Index Open 1,336.34 Turnover 9,051,348 P/E (x) 14.70
11.47 37.51 81.50 11.26 42.17 13.50 61.00 18.70 8.97 9.25 12.35 12.30
0.50
1
-
-
-
Trust Modaraba
298
3.56
1.65
1.85
1.80
1.85 0.20
10010
2.30
1.15
5
-
-
-
U D L Modaraba
264
1.74
6.14
6.17
6.05
6.14 0.00
12397
6.55
5.21
12.5
-
-
-
Open
NBP-JAN 76.88 FFBL-JAN 41.86 NBP-FEB 77.28 FFBL-FEB 42.14 ENGRO-FEB 216.37 NML-JAN 66.33 ANL-FEB 12.05 POL-FEB 328.43 POL-JAN 327.61 ENGRO-JAN 214.99 FFC-FEB 154.61 DGKC-JAN 29.63 NML-FEB 66.48 FFC-JAN 153.73 AICL-JAN 94.66 PSO-JAN 304.86 ANL-JAN 12.03 BOP-FEB 9.64 PPL-FEB 216.69 MCB-JAN 232.75 PPL-JAN 215.85 UBL-JAN 68.50 PSO-FEB 307.05 UBL-FEB 69.13 MCB-FEB 234.00 AICL-FEB 94.96 HUBC-JAN 38.53 LUCK-JAN 72.73 PTC-FEB 19.70 BOP-JAN 9.10 DGKC-FEB 29.95 LUCK-FEB 73.35 NETSOL-FEB 25.50 NCL-FEB 23.47 NETSOL-JAN 25.28 OGDC-FEB 172.60 OGDC-JAN 172.62 PTC-JAN 19.40
High 78.50 42.08 79.18 42.44 218.25 67.41 12.10 334.75 334.00 217.00 157.60 30.04 68.00 156.80 95.50 306.50 12.05 9.30 219.50 234.90 218.25 69.50 309.00 69.90 235.70 95.70 38.75 73.60 19.55 9.30 30.34 74.00 26.70 23.30 26.20 173.99 174.20 19.26
Low
Close
76.80 41.00 77.40 41.20 213.47 66.50 11.55 329.05 328.00 212.00 155.00 29.70 66.80 154.49 91.00 303.50 11.50 9.05 217.15 230.50 216.25 68.50 305.55 69.01 234.00 95.10 38.75 73.00 19.50 8.91 29.90 73.51 25.80 23.30 25.70 173.00 173.50 19.21
78.16 41.13 78.64 41.40 213.70 66.67 11.64 329.79 328.97 212.20 156.80 29.85 67.18 156.32 94.96 304.30 11.55 9.22 217.87 233.66 216.69 68.64 305.96 69.40 234.75 95.55 38.75 73.03 19.50 9.24 30.19 73.70 25.95 23.30 25.85 173.25 174.00 19.23
Change 1.28 -0.73 1.36 -0.74 -2.67 0.34 -0.41 1.36 1.36 -2.79 2.19 0.22 0.70 2.59 0.30 -0.56 -0.48 -0.42 1.18 0.91 0.84 0.14 -1.09 0.27 0.75 0.59 0.22 0.30 -0.20 0.14 0.24 0.35 0.45 -0.17 0.57 0.65 1.38 -0.17
Vol 771000 638000 543000 454000 420000 349000 324000 300500 295000 283000 265000 251500 242500 226000 200500 117500 112000 110000 82500 78500 78000 72500 60500 53000 47500 30500 25000 25000 25000 20500 20000 17500 12500 10000 9500 9500 8500 5500
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
63.92
Support 1
12,446.50
MA (5-day)
12,430.69
Support 2
12,409.70
MA (10-day)
12,506.42
Resistance 1
12,529.40
11,016.60
Resistance 2
12,575.45
MA (100-day)
Fair Value
*Arif Habib Ltd
Rs Recommendations
37
10,514.04
Pivot
Rs Recommendations
*Arif Habib Ltd
164.1
Buy
*Arif Habib Ltd
32.06
Accumulate
AKD Securities Ltd
122.1
Accumulate
AKD Securities Ltd
TFD Research
44.25
Neutral
TFD Research
139.5
Negative
TFD Research
Technical Outlook Technical Analysis
Leverage Position
Brokerage House
Fair Value 11.8
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Brokerage House
Hold
*Arif Habib Ltd
Fair Value 224
FFC is currently 39.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very
FFC is currently in an overbought condition.
Brokerage House
Negative
TFD Research
TFD Research
245.4
Positive
TFD Research
Technical Outlook
* Target price for Jun-11 & **Net Open Interest in future market
Brokerage House
AKD Securities Ltd
Positive
60.05 213.36 185.29 186.09
Rs Recommendations
Buy
14.01
Technical Analysis
Pakistan Telecommunication Co Ltd
296.6
TFD Research
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
NBP is currently 14.5 per cent above its 200-day moving average and is
*Arif Habib Ltd
AKD Securities Ltd
674.58 7,777.89 N/A 11.61
281.35
147.48 31,289.69 271.22 214.01
* 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)
64.73 331.71 266.29 246.93
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
24.7
Buy
24.04
Buy
25.8
Positive
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.44 24,895.97 131.62 77.56
displaying an upward trend. Volatility is relatively normal as compared to
Hold
Buy
Leverage Position
Fair Value
107.94 35,466.54 313.56 329.59
* 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)
45.10 19.59 19.13 19.38
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
585.00 11,249.54 14.31 19.34
* Target price for Jun-11 & **Net Open Interest in future market
BAFL closed down -0.03 at 11.53. Volume was 15 per cent above average ENGRO closed down -2.72 at 212.16. Volume was 46 per cent above POL closed up 1.25 at 328.57. Volume was 20 per cent above average PTC closed down -0.17 at 19.23. Volume was 3 per cent below average and Bollinger Bands were 15 per cent narrower than normal.
average and Bollinger Bands were 140 per cent wider than normal.
and Bollinger Bands were 57 per cent wider than normal.
and Bollinger Bands were 8 per cent narrower than normal.
BAFL is currently 18.7 per cent above its 200-day moving average and is ENGRO is currently 14.1 per cent above its 200-day moving average and POL is currently 33.1 per cent above its 200-day moving average and is PTC is currently 0.7 per cent below its 200-day moving average and is disdisplaying an upward trend. Volatility is relatively normal as compared to is displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is relatively normal as compared to playing an upward trend. Volatility is extremely high when compared to the the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect mod- the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into BAFL (bullish). Trend forecasting erate flows of volume into ENGRO (mildly bullish). Trend forecasting oscil- reflect very strong flows of volume into POL (bullish). Trend forecasting reflect moderate flows of volume into PTC (mildly bullish). Trend forecastoscillators are currently bullish on BAFL.
lators are currently bullish on ENGRO.
oscillators are currently bullish on POL.
ing oscillators are currently bullish on PTC.
Time
27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 27-Jan 28-Jan
3:30 11:00 11:00 12:30 10:00 10:30 11:00 11:00 2:00 12:00 10:30 12:00 12:30 4:00 11:30 10:00 10:00 10:00 4:30 10:00
TECHNICAL LEVELS
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Date
Faran Sugar Mills Limited Husein Sugar Mills Ltd Crescent Sugar Mills ltd Crescent Steel Ltd Pakistan Hotels Developers Ltd Premier Sugar Mills Ltd Chashma Sugar Mills Limited Colgate-Palmolive (Pakistan) Ltd Adam Sugar Mills Limited Clover Pakistan Limited Security Papers Limited Attock Refinery Limited National Refinery Ltd Shahmurad Sugar Mills Ltd Al-Noor Sugar Mills Ltd Central Insurance Company Ltd Fauji Fertilizer Company Ltd Millat Tractors Limited Attock Cement Pakistan Ltd J.K Spinning Mills Ltd
Company
* Target price for Jun-11 & **Net Open Interest in future market
336.1
238.8
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
62.10 77.71 68.48 68.30
*Arif Habib Ltd
AKD Securities Ltd
59.03 11.44 9.66 9.71
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Hold
Accumulate
Technical Analysis
92.3
forecasting oscillators are currently bullish on NBP.
Pakistan Oilfields Ltd
Rs Recommendations
Neutral
strong flows of volume into FFC (bullish). Trend forecasting oscillators are the average volatility over the last 10 trading sessions. Volume indicators currently bullish on FFC. Momentum oscillator is currently indicating that reflect volume flowing into and out of NBP at a relatively equal pace. Trend
10.25
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
373.19 58,277.33 101.45 155.21
* Target price for Jun-11 & **Net Open Interest in future market
AKD Securities Ltd
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Hold
61.96
FFC closed up 2.50 at 156.16. Volume was 292 per cent above average NBP closed up 1.47 at 78.18. Volume was 18 per cent above average and (trending) and Bollinger Bands were 289 per cent wider than normal. Bollinger Bands were 33 per cent narrower than normal.
Engro Corporation
Rs Recommendations
81.31 149.49 115.78 112.33
Rs Recommendations
Technical Outlook
Technical Outlook
12,492.55
Fair Value 85
AKD Securities Ltd
Bank Al-Falah Ltd
*Arif Habib Ltd
Brokerage House
Brokerage House
Fair Value
Sell
RSI (14-day) 62.57 Free Float Shares (mn) 326.94 MA (10-day) 41.54 Free Float Rs (mn) 13,427.36 KSE 100 INDEX closed up 27.59 points at 12,483.34. Volume was MA (100-day) 32.95 ** NOI Rs (mn) 119.77 27 per cent above average and Bollinger Bands were 10 per cent MA (200-day) 30.76 Mean 41.49 wider than normal. As far as resistance level is concern, the mar* Target price for Jun-11 & **Net Open Interest in future market ket will see major 1st resistance level at 12,529.40 and 2nd resistFFBL closed down -0.75 at 41.07. Volume was 57 per cent above average ance level at 12,575.45, while Index will continue to find its 1st and Bollinger Bands were 132 per cent wider than normal. support level at 12,446.50 and 2nd support level at 12,409.70. KSE 100 INDEX is currently 18.8 per cent above its 200-day mov- FFBL is currently 33.6 per cent above its 200-day moving average and is ing average and is displaying an upward trend. Volatility is high as displaying an upward trend. Volatility is high as compared to the average compared to the average volatility over the last 10 trading sesvolatility over the last 10 trading sessions. Volume indicators reflect modsions. Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently erate flows of volume into FFBL (mildly bullish). Trend forecasting oscillators are currently bullish on FFBL. bullish on INDEX. MA (200-day)
National Bank of Pakistan
Fauji Fertiliser Co
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 41.94 2.95 2.90 59.05 71.25 70.70 24.89 57.65 57.15 51.34 26.25 25.85 46.49 25.95 25.80 66.80 94.35 93.80 61.31 18.30 18.15 60.24 11.20 10.95 76.10 388.25 386.45 55.75 135.45 134.30 59.03 11.40 11.25 54.35 3.85 3.80 37.82 8.95 8.80 47.22 2.10 2.05 47.25 29.60 29.40 44.77 2.80 2.75 53.90 2.65 2.55 40.77 41.30 41.05 34.97 68.00 67.30 60.05 210.20 208.20 47.73 14.95 14.85 47.39 4.90 4.85 62.57 40.60 40.10 81.31 154.45 152.70 51.14 121.45 120.70 55.11 38.40 38.05 54.66 149.15 147.70 72.27 292.00 289.00 43.54 3.80 3.70 47.91 1.65 1.60 39.68 2.35 2.30 44.21 11.45 11.25 57.27 43.55 43.45 47.57 2.85 2.80 58.73 14.90 14.40 45.21 72.85 72.25 54.55 232.00 230.75 34.46 2.65 2.60 62.10 77.20 76.20 47.62 22.75 22.55 73.38 25.10 24.50 42.98 2.80 2.75 39.94 1.65 1.60 52.31 66.05 65.65 57.52 173.70 172.70 63.96 3.15 2.95 39.42 1.85 1.75 56.41 2.40 2.35 46.18 6.70 6.55 64.73 325.75 322.90 48.72 215.80 214.75 34.46 66.45 65.55 57.89 302.15 300.70 45.10 19.05 18.90 56.10 210.50 208.90 54.68 28.20 28.15 47.26 13.30 13.25 53.39 22.25 22.05 43.37 2.15 2.10 36.03 3.15 3.05 58.96 68.00 67.35 44.28 2.60 2.50
1st 2nd Resistance 3.15 3.25 72.65 73.50 59.00 59.90 27.35 28.00 26.45 26.75 95.50 96.15 18.70 18.95 11.90 12.35 393.40 396.75 138.50 140.40 11.75 12.00 4.00 4.10 9.25 9.40 2.20 2.25 30.00 30.25 3.05 3.20 2.80 2.85 42.00 42.40 69.90 71.10 215.70 219.20 15.25 15.45 5.00 5.05 41.85 42.65 157.45 158.70 123.45 124.75 39.05 39.35 151.90 153.20 300.00 305.00 3.95 4.05 1.75 1.80 2.45 2.55 12.05 12.40 43.90 44.15 2.95 3.05 16.00 16.55 73.90 74.30 235.00 236.70 2.75 2.80 78.85 79.50 23.35 23.70 26.25 26.80 2.90 2.95 1.85 2.00 67.15 67.85 175.35 176.00 3.60 3.75 2.05 2.20 2.55 2.60 6.95 7.05 333.20 337.80 218.20 219.55 68.85 70.35 305.90 308.25 19.50 19.75 214.80 217.50 28.40 28.55 13.45 13.55 22.70 23.05 2.25 2.30 3.35 3.45 69.55 70.40 2.85 3.00
Pivot 3.10 72.10 58.50 26.90 26.25 94.95 18.55 11.65 391.60 137.35 11.65 3.95 9.10 2.15 29.85 2.95 2.70 41.75 69.20 213.70 15.15 4.95 41.40 155.70 122.70 38.70 150.45 297.00 3.90 1.70 2.40 11.80 43.80 2.90 15.50 73.25 233.75 2.70 77.85 23.10 25.65 2.85 1.80 66.75 174.35 3.35 2.00 2.45 6.80 330.35 217.15 67.95 304.45 19.30 213.20 28.35 13.40 22.55 2.20 3.25 68.85 2.75
8
Thursday, January 27, 2011
PIA says sharing no code with THY TANGERANG: Passengers walk to the Mandala airline office at Soekarno-Hatta airport in Tangerang. Reuters
Apec cargoers hope big 2010 KUALA LUMPUR: AsiaPacific airlines recorded "solid growth" in 2010 with a strong rebound in passenger numbers, an industry group said Wednesday as it forecast further gains for this year. The Association of Asia Pacific Airlines (AAPA) said regional airlines carried 185 million international passengers in 2010, up 13 per cent from the previous year. International air cargo
demand grew by 24.2 per cent in freight tonne-kilometres year-on-year basis, following declines of 10 and 7 per cent in 2009 and 2008 respectively. "Asia Pacific carriers enjoyed a year of solid growth, with robust demand for both leisure and business travel, and the strong rebound in international trade, led by dynamic growth of the Asia Pacific region," AAPA director general Andrew Herdman said in a
statement. The industry group said the outlook for 2011 remains "broadly positive". "Given expectations of further sustained growth in traffic demand, the outlook for the new year remains broadly positive," he said. "The prevailing shift of political influence and commercial dynamism towards Asia should result in players from the region playing an increasingly
Etihad to frequent Jeddah more & more ISLAMABAD: Etihad Airlines will expand its flying programme to Jeddah from February 1, increasing from a daily service to 12 services per week, said a press release issued here. It offers more options for people travelling from Karachi, Lahore, Islamabad and Peshawar to Makkah and Medina through Jeddah.
James Hogan, Chief Executive Officer of the airline said, "Saudi Arabia is a cornerstone market for the airline and Jeddah has always been an important strategic destination for it. The demand for the Umrah flights has always been very strong and we expect this to continue growing in future." The airline is also offering exclusive return Umrah fares
for passengers traveling from Pakistan to the Jeddah for the upcoming Umrah season starting at Rs29,870 from Karachi and Rs38,500 from Lahore and Islamabad. The airline commenced operations to Jeddah in May 2006, with three frequencies per week, increasing to daily from April 2007 and now to 12 flights per week from February 2011.-APP
LONDON: Michael O'Leary, chief executive of Irish low-fare airline Ryanair, attends a news conference in Marseille-Provence airport.-Reuters
important role in shaping the future of the air transport industry." World airline industry group, the International Air Transport Association, in December raised its forecast for airline earnings in 2010 to a record 15.1 billion dollars from 8.9 billion dollars as economic conditions improved. However it has predicted that airlines would face more turbulence in 2011.-APP
Aus Qantas yet jinxed SYDNEY: Australian airline Qantas said an air conditioning problem likely caused one of its jets to depressurise mid-flight on Tuesday, prompting the pilot to rapidly descend panicking passengers. Oxygen masks were deployed as the plane dropped from its cruising altitude of 11,000 metres to 3,000 metres (36,000 feet to 10,000 feet), a spokesman for the airline said. The Boeing 737-400 flight carrying 99 passengers from Adelaide to Melbourne was around half an hour from its destination when the incident occurred. It has been a dramatic few months for the Australian airline, which in November temporarily suspended flights of its Airbus A380 superjumbos after an engine on one exploded after taking off from Singapore, damaging the plane. Last week a Qantas flight bound for New York made an unscheduled stop in Fiji after the Boeing 747 developed a problem with a fuel valve supplying one of its engines. In the latest incident, the airline's spokesman said the air conditioning system was likely at fault. "There are two air conditioning systems on the aircraft -- one of them failed at the cruising altitude, that's when they started to descend," he said.-APP
RAWALPINDI: PIA MD Captain Ejaz Haroon has said that the PIA discussed code sharing with Turkish Airline (THY) but no agreement so far has been signed in this regard, added the agreement will be signed after the approval of the federal government. Briefing the media at Islamabad Airport, the PIA MD said that six to seven thousand employees were regularised in the PIA, adding that at the moment, the PIA was facing competition at international level. General Manager North Operations Captain Qasim Hayat, Senior Staff Association Islamabad President Samir Karamat and other officials also attended the briefing. All the airlines are working under the formula of code
PIA directed to spice up food, entertainment ISLAMABAD: Senate Standing Committee on Culture and Tourism has directed Pakistan International Airline (PIA) to improve the standard of entertainment programmes and food quality in their flights. The committee meeting held here on Wednesday and was chaired by Senator Nilofar Bakhtiar. Senator Muhammad Kazim Khan, Senator Salahuddin Dogar, Senator Abdul Khaliq Pirzada and Senator Pervaiz Rashid also attended the meeting. The committee said that the food being provided during the flights do not meet International standard which needs to be improved on immediate basis. The committee said that the entertainment programme is also very old and does not cater the need of passengers. The committee suggested that PIA should introduce new entertainment programmes. Earlier the PIA officials briefed the committee regarding their food and entertainment programmes. Officials claimed that PIA is currently offering high quality entertaining Audio and Video Programmes on board and different types of aircraft are fitted with different type of In Flight Entertainment (IFE) systems. -APP
Body reviews nat'l carrier's business plan KARACHI: A meeting of the Sub-Committee of the Senate Standing Committee on Defence and Defence Production was held at PIA Head Office here last week. The Committee reviewed the Business Plan of PIA, a statement issued here said. It said that the meeting was attended by Senator Tariq Azim Khan, Convener and Senator Haji Muhammad Adeel, member of the Sub-Committee. Managing Director PIA, Captain Muhammad Ejaz Haroon, and Senior Management officials of the airline were present at the meeting.-APP sharing, he underlined. There is lot of load on the PIA airplanes. After possible code sharing formula with Turkey, Ejaz Haroon said that the PIA planes would flight till Istanbul from where they would take flights for Islamabad, Lahore and Karachi to bring Pakistani passengers. There is no direct PIA flight to New York, first it flies to Manchester then New York while the passengers have to first travel from Islamabad to Manchester and then New York, he noted. The PIA DG said that the one-stop Turkish Airline -loaded from Istanbul-- would give to the PIA after code sharing agreement with Turkish Airline. He said that there were only two flights of the PIA for Chicago, adding after the agreement, it would link with Lahore, Karachi, and Islamabad but it would not put any extra burden on the passengers and they would only change the plane. On this occasion, Samir Karamat told the media that they are protesting it as the PIA did not take them into confidence in this regard. He demanded of the government to take measures for the improvement of the PIA, adding that the administration had signed an agreement on January 01, 2010 for providing operating profit but it was not paid so far.-Online
Merger of Greek aircos shot down BRUSSELS: Europe's competition watchdog used a rare veto Wednesday to block a merger between Greece's biggest carriers, Olympic Air and Aegean Airlines, saying it would create a quasi-monopoly. The tie-up would have led to a near total domination by the new airline between Athens and Greece's second biggest city, Thessaloniki. "This would have led to higher fares for four out of six million Greek and European consumers travelling on routes to and from Athens each year,"
the European Commission said. Europe's competition watchdog seldom uses its veto on mergers: the last time it blocked one was in 2007, when it barred Irish low-cost airline Ryanair from taking over national competitor Aer Lingus. Olympic Air and Aegean Airlines announced in February 2010 plans to merge into a single listed company that would take the name Olympic Air and become a "national champion" in the airline business.-APP
BA cabin crew vote for further industrial action LONDON: British Airways cabin crew voted last week to strike again in a long-running battle over proposed job and pay cuts, casting a shadow over the completion of the airline's merger with Spain's Iberia. The Unite union said that of 7,330 valid ballots, 78.5 percent backed strike action, while 21.5 percent opposed it. No date was announced for any further strikes and the union left the door open to more talks. "For the fourth time in 13 months, British Airways cabin crew have voted overwhelmingly in support of their union and expressed their dissatisfaction with management behaviour," Unite General Secretarydesignate Len McCluskey said. "This dispute will be resolved by negotiation, not litigation or confrontation, and it is to negotiation that BA management should now apply itself. We are ready," he added. The dispute began last year over proposed cuts to pay and staffing levels. It has already cost the airline 150 million pounds. But the dispute has now broadened into a fight over issues related to last year's strikes. The union is demanding that BA restore travel perks that it took away from cabin crew who took part in the original strikes. It also wants binding arbitration on disciplinary cases linked to the original dispute and the restoration of earnings docked from crew who were genuinely off sick on strike dates. BA said the ballot result showed Unite did not have the support of a majority of cabin crew for further strike action. "Of our 13,500 crew, only 43 per cent voted in favour of strike action in this ballot," the company said in a statement. It urged Unite to return to a deal being discussed last year which it said guaranteed pay rises for the next two years and secured terms and conditions for existing crew. The airline accuses the union of going back on a promise to recommend that deal to its members. The latest strike announcement was made on the day BA was due to complete its merger with Iberia. Shares in the new holding company, International Consolidated Airlines Group , will be listed in London and Madrid on Monday. -Reuters
PIAâ&#x20AC;&#x2122;s natâ&#x20AC;&#x2122;l interests intact: Mukhtar ISLAMABAD: Defence Minister Ch Mukhtar has denied handing over of profitable routes of Pakistan International Airline to any foreign airline. Responding to a calling attention notice in National Assembly, he said "I assure the honourable house that the government has no intention to hand over profitable routes to any foreign airline." The Minister said, "We will hold negotiations with any airline only in a win-win situation." He said that the government would take all those steps which it deemed were in the interest of PIA and Pakistan. He clarified that Turkish authorities had requested Pakistan to give more routes to Turkish airlines on reciprocal basis.-APP
9
Thursday, January 27, 2011
US oil holds above $86 ahead of Fed comment
European vegetable oil prices
EIA reports large rise in US crude inventories LONDON: US crude held above $86 a barrel on Wednesday and Brent rose more than $1 as a weaker dollar ahead of a Federal Reserve statement and rising equities countered a big rise in US crude inventories. US crude briefly turned negative after the US Energy Information Administration reported a 4.84 million-barrel rise in crude stocks. Still, some analysts said that was unlikely to stand in the way of higher prices. "What does it really mean to price? Very little. By the end of the day, I think we'll be more along the lines of what the equity markets are doing," said Kyle Cooper, managing director at IAF Advisors in Houston. "I still maintain the overall market is driven way more by financial flows than by weekly inventory numbers. US crude was up 3 cents at $86.22 as of 1620 GMT, while Brent crude gained $1.30 to $96.55. High US crude inventories,
especially at the Cushing, Oklahoma, delivery point for the US crude contract, also known as West Texas Intermediate or WTI, have helped keep US crude prices below Brent. "Brent and WTI have been trading increasingly as entirely separate commodities in recent
weeks, driven by decidedly different fundamentals," said J.P. Morgan analysts in a report. "Unsurprisingly, the main issue for the wide Brent-WTI spread seems to lie not with Brent but rather with WTI." The EIA report showed a mixed trend for stocks of refined fuels. Gasoline stocks rose by 2.4 million barrels and distillates supplies fell by 140,000 barrels. The Fed is expected to underscore reasons for optimism even as it reaffirms its economic
stimulus plan to buy $600 billion in government debt in its 1915 GMT statement. The EIA report showed a bigger rise in crude stocks than industry group the American Petroleum Institute, which on Tuesday said inventories increased by 2.1 million barrels. The two oil benchmarks hit more than twoyear highs earlier in January with Brent trading just 80 cents short of the $100 a barrel milestone on Jan. 14. Analysts at Credit Agricole CIB and Facts Global Energy said that the immediate risk of a breach of $100 had now receded with prices likely to trend lower through the first quarter. "I think the fall is justified by the disappearance of very cold weather in Europe and the restart of the Alaskan pipeline as well as signs that the Organization of the Petroleum Exporting Countries is increasing production," said analyst Christophe Barret at Credit Agricole. -Reuters
Palm oil off 1-wk low on lower output talk KUALA LUMPUR: Malaysian palm oil bounced off fresh oneweek lows on Wednesday on talk of production falling further this month as rains continue to batter estates. But investors continued to factor in favourable weather across Argentina's farming belt that may relieve soy and corn crops suffering from drought. The benchmark April crude palm oil contract on Bursa Malaysia Derivatives ended down nearly 1 per cent to 3,670 ringgit ($1,202) a tonne, after going as low as 3,622 ringgit -- a level unseen since Jan. 18. "There is a perception that the market was oversold. Also, there is talk that production could be at least 5 per cent
lower in January," said a trader with a foreign commodities brokerage. Other traders pegged the production decline at between five and 10 per cent for Malaysia as heavy rains stall harvesting and excessive moisture affects yield quality. A Reuters technical analysis showed palm oil might extend losses to 3,539 ringgit per tonne, based on its wave pattern and a Fibonacci retracement analysis. A Reuters survey showed palm oil prices to average 3,100 a tonne this year, marking a third straight year of gains as global vegetable oil supplies continue to shrink. Other vegetable oils were
mixed in Asian trade hours. US soyoil for March delivery edged higher after posting losses in the previous session. The most traded September soyoil on China's Dalian Commodity Exchange hit onemonth lows. Trading in China is slowing as investors have begun to pull out funds before the new year holiday from Feb. 2 to Feb. 8. Despite a broad sell-off in commodities, crude rose in Asian hours on a technical rebound ahead of a statement from the US Federal Reserve expected to reaffirm an improved economic outlook for the world's largest oil consumer while investors await weekly stocks data. -Reuters
Copper rises; dollar, China doubts curb gains LONDON: Copper rose on Wednesday, but trimmed its gains on a resurgent dollar, as the approach of a holiday amid expectations of tighter monetary policy in top consumer China checked investor enthusiasm. Tin hit a record high of $28,775 a tonne as the market tried to price in scarcity of supplies from top exporter Indonesia. It has risen about 6 per cent so far this year after a gain of nearly 60 per cent in 2010. "Clearly of all base metals tin has best fundamentals," said Nic Brown, an analysts at Natixis. "Supply is constrained, demand continues to expand strongly, and unlike copper where there is some substitution, tin is not very easy to substitute, so there is very little to stop it going higher," he said. Benchmark copper on the London Metal Exchange was last quoted at $9,325 a tonne from $9,250 on Tuesday, when the metal used in power and construction fell to a one-month low of $9,234.85 a tonne. Traders also pointed to news that China had unveiled fresh measures to contain property price rises, including bigger down payments for secondhome buyers. China's Lunar New Year holidays also start next week. China accounts for nearly 40 per cent of global copper consumption estimated at around 21 million
tonnes this year. "We are in a seasonal slowdown. There are public holidays in China and concerns over monetary tightening," said VTB Capital analyst Andrey
Shanghai copper declines Shanghai's benchmark thirdmonth copper futures contract fell 30 yuan to 70,800 yuan a tonne. The discount for LME metal versus Shanghai continued to narrow, currently around 1,300 yuan, a third of the recent highs, stirring expectations that the arbitrage may open after the Chinese holidays starting Feb. 2. Kryuchenkov. Growth in China accelerated in the fourth quarter and its inflation slowed less than expected, fuelling concerns that harsher policy tightening is needed. Also weighing on copper are rising stocks in LME warehouses, which at 394,700 tonnes are at their highest since September and up more than 10 per cent since Dec. 9. The stocks have risen around 3.5 per cent in the past two days alone. "Copper inventories are build-
ing ... It is logical to see a shortterm pullback...," Kryuchenkov said. Exchange open interest on copper futures at the LME stands at 305,551 lots or more than 7.64 million tonnes from 324,420 lots or more than 8.11 million tonnes on Jan. 14. Also helping boost tin sentiment was a survey by consultants ITRI showing that global tin consumption rose 12.5 per cent last year. Three-month tin closed at $28,625 a tonne from $28,195 a tonne at the close on Tuesday. Lead was $2,376 a tonne from a last bid at $2,336 a tonne on Tuesday when the battery material touched a low of $2,325 a tonne, its lowest since Dec. 8. It has come under pressure from stocks in LME warehouses, which at 275,300 tonnes are their highest since May 1995. However, LME data shows one company controlling 8090 per cent of lead stock warrants and cash contracts, which has fuelled nervousness about nearby supplies.\ Zinc was quoted at $2,278 a tonne from $2,221 on Tuesday, nickel was $26,500 from $25,900 and aluminium was $2,387 from $2,361. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 25 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1250
January (3rd Wednesday)
1310
1255
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 25 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
2211 2212 2205 2210 2135 2145 2135 2145
2359 2360 2381 2382 2442 2447 2482 2487
9329.5 9330 9316 9316.5 9110 9120 8705 8715
2530 2535 2475 2480 2415 2420 2375 2380
25750 25755 25800 25825 24990 25090 24015 24115
TIN
28180 28200 28050 28100 27550 27600
ZINC NASAAC
2227 2320 2228 2320.5 2240 2335 2245 2340 2253 2365 2258 2375 2228 2420 2233 2430
NAIROBI - KENYA: Vendors unload bags of onions from a truck outside the main Wakulima farmers' vegetable market in Kenya's capital Nairobi. -Reuters
Cocoa hits 1-yr peak; Arabica spikes 3.9pc LONDON: Cocoa futures on ICE touched a fresh one-year peak on Wednesday, as six major exporters adhered to a call for a cocoa export ban from Ivory Coast and new sales offers from the top grower wound down. Arabica coffee futures soared as high as 3.9 per cent, taking back losses from the past two days, after fund buying triggered automatic buy stops, dealers said. Cocoa prices have stayed high since Monday, after Ivory Coast presidential claimant Alassane Ouattara called for a month-long ban on Ivorian cocoa exports to cut funds from his rival for the presidency, incumbent Laurent Gbagbo. New York's March cocoa contract gained $9 or 0.3 per cent to $3,344 per tonne at 1630 GMT after touching $3,395, its highest since January 2010. London's May cocoa contract slipped 4 pounds or 0.2 per cent lower to 2,172 pounds a tonne, below Monday's six-month peak of 2,269 pounds a tonne. Arabica coffee futures jumped higher after commerical buying near recent lows followed by fund buying triggered automatic buy stops above $2.36 on the March contract. The collapse (the past two days) had to do with the macro economics," said Rodrigo Costa, vice-president of institutional sales for Newedge USA in New York. ICE March arabica traded up 6.3 cents or 2.7 per cent to $2.3770 per lb at 1630 GMT after spiking as high as $2.4035 a lb, near its 13-1/2year high of $2.4450 a lb. Liffe March robusta coffee was up $11 or 0.5 per cent at $2,105 per tonne. ICE raw sugar futures edged up as investors focused on a potential cut in Russia's import tax to $50 from $140 a tonne beginning in March, which could impact front month spreads. ICE March raw sugar futures were up 0.65 cent or 2 per cent to 32.50 cents a lb at 1555 GMT, while Liffe March white sugar was up $13 or 1.7 per cent to $794.50 per tonne. Sugar supply will just cover demand this year and prices will fall by the end of 2011, a Reuters poll showed, although that fine balance could easily be upset by dire weather or logjams at Brazilian ports. -Reuters
Gold eases before Fed; ETFs shed metal
ROTTERDAM: The following were the Wednesday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Mar11 975.00-20.00, Apr11 975.0020.00, May11/Jul11 980.0020.00, Aug11/Oct11 985.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 1040.00-5.00, May11/Jul11 1025.00-10.00, Aug11/Oct11 968.00-2.00, Nov11/Jan12 970.00+0.00, Feb12/Apr12 980.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Feb11 1470.00, Mar11 1470.00, Apr11/Jun11 1440.00-25.00, Jul11/Sep11 1450.00-25.00, Oct11/Dec11 1355.00-20.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1585.00+5.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1260.00, Feb11 1262.50-2.50, Mar11 1262.50-2.50, Apr11/Jun11 1237.50+0.00, Jul11/Sep11 1215.00-2.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1302.50, Mar11 1292.50, Apr11/Jun11 1270.00. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1247.5010.00, Mar11 1237.50-7.50, Apr11/Jun11 1215.00-7.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1255.00-10.00, Mar11 1245.00-7.50, Apr11/Jun11 1222.50-7.50, Jul11/Sep11 1190.00-10.00. PALM STEARIN: Dlrs tonne fob Malaysia Feb11 1215.005.00, Mar11 1215.00-5.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 2240.00+0.00, Feb11/Mar11 2200.00-10.00, Mar11/Apr11 2180.00-10.00, Apr11/May11 2160.00-10.00, May11/Jun11 2120.00. Reuters
LONDON: Gold eased on Wednesday ahead of a US Federal Reserve policy decision later in the day, while a record outflow from the largest exchange-traded bullion fund kept prices near Tuesday's threemonth low. The SPDR Gold Trust, the world's biggest gold-backed ETF had its largest one-day outflow on record on Tuesday, reflecting a decline in investor
worldwide. However with major problems remaining in the eurozone and US economies, it is doubtful this signals the end of the gold bull market." This echoes the views of ETF Securities head of research Nick Brooks, who told a journalists' conference call on Wednesday that the ongoing fiscal problems of developed economies, coupled with rising inflation around the globe, would likely feed
interest. Barclays Capital said outflows from a range of gold ETFs had brought overall holdings to their lowest in five months. Spot gold was bid at $1,328.20 an ounce at 1505 GMT, against $1,332.75 late in New York on Tuesday. US gold futures for February delivery fell $5.00 to $1,327.50 an ounce. "Gold hasn't adjusted to a world in which interest rate rises are conceivable particularly well, and some investors seem to think enough is enough," said Mitsubishi analyst Matthew Turner. "We could see further weakness, particularly if the economic data continues to be strong
demand for gold. "Ultimately, the demand for gold will remain firm and will come back but we're going through a period where there is a lot of profit-taking coming through," he said. Gold has fallen for five days in a row now, bringing the losses for January to more than 6 per cent, which would be its worst monthly performance since December 2009. Spot platinum was bid at $1,787.24 an ounce against $1,784.50, while palladium was at $787.97 against $778.72. Both are expected to rise this year and next as their underlying BANGKOK: The key Tokyo fundamentals tighten. Silver was bid at $26.77 an rubber futures contract fell to its lowest in nearly two weeks on ounce against $26.84. -Reuters Wednesday as broad weakness in commodity markets triggered profit-taking as players feared that prices had risen too fast, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery, Reuters preliminary data which made its debut on showed. Spot March was driven by Wednesday, fell 3 yen from the heavy speculative buying but opening price to settle at 457.2 the rest of the board 'did not yen ($5.56) per kg, the lowest have the same support' and lost for a benchmark since Jan. 14. The previous benchmark June ground as a result, said Sharon Johnson, senior cotton analyst contract fell as much as 16.5 yen, or 3.4 per cent, to finish at at brokerage Penson Futures. 460.1 yen per kg. Deferred contracts closed The most active rubber contract roughly 2 to 3 cents lower. on the Shanghai futures exchange Some investors may be forced for May deliver fell 385 yuan to to pay up to get out of their settle at 39,280 yuan ($5,967) per positions in the March con- tonne. The sixth month Tokyo tract, said Mike Stevens, an rubber contract could fall to 397.7 independent analyst in yen per kg over the next four Mandeville, Louisiana. weeks, as the fourth wave correcOvernight Chinese cotton tion has started after the third prices were softer, with the key wave peaked at 484.90 yen, based September cotton futures on on its wave pattern and a the Zhengzhou Commodity Fibonacci retracement analysis on Exchange last done at 31,505 the rise from 256.70 yen to 484.90 yuan per tonne, down 445 yuan yen, according to Reuters Market on the day. -Reuters analyst Wang Tao. -Reuters
Tokyo rubber down on profit-taking
US cotton lower, spec buying seen in March NEW YORK: US cotton futures finished lower Tuesday as speculative buying powered the spot contract to a fresh record high, but that faded and back months sank as a lack of support and fears of a slowdown in top consuming countries such as China weighed on fiber contracts. The cotton market had risen nearly 20 per cent since midJanuary, driven by strong prices in top consumer China and tight deliverable supplies in the US cotton market. The key March cotton contract on ICE Futures US fell 0.11 cent to close at $1.6183 per lb, with the contract hitting a new spot record high at $1.6789. Total volume was twice the 30-day average at 38,800 contracts, Thomson
National Commodity Exchange Ltd Trading Summary Date
26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011 26-Jan-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 27JA11 FE11 FE11 11-Mar 11-Jun
US$ 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
86.68 88.44 89.87 26.63 26.64 1325.60 1325.80 1326.60 1329.00 1325.70 1328.90 36771.00 36859.00 37075.00 36822.00 36831.00 42948.00 42948.00 37912.00 37953.00 37871.00 37884.00 37898.00 43549.00 43597.00 44089.00 43745.00 43980.00 3279.00 3301.00 5267.00 86.17 85.44
86.96 88.69 90.19 27.10 26.89 1338.30 1338.20 1338.50 1335.70 1331.50 1338.00 37125.00 37011.00 37125.00 36974.00 36983.00 43126.00 43126.00 38053.00 38094.00 38108.00 38025.00 38039.00 43714.00 43762.00 44089.00 44014.00 44100.00 3301.00 3324.00 5267.00 86.19 85.47
86.18 88.01 89.87 26.57 26.64 1323.20 1323.40 1323.90 1322.90 1325.70 1326.30 36771.00 36859.00 36876.00 36822.00 36831.00 42948.00 42948.00 37912.00 37953.00 37871.00 37884.00 37898.00 43549.00 43597.00 43502.00 43518.00 43534.00 3279.00 3301.00 5228.00 86.17 85.44
86.77 88.55 90.19 26.88 26.89 1330.90 1331.50 1332.30 1330.90 1331.50 1331.50 37002.00 37011.00 37029.00 36974.00 36983.00 43126.00 43126.00 38053.00 38094.00 38108.00 38025.00 38039.00 43714.00 43762.00 43778.00 43682.00 43698.00 3301.00 3324.00 5228.00 86.19 85.47
Traded Volume in lots 198 41 185 436 2,126 1,414 25 35 32 2 3 20 7 -
Previous Settlement Price 86.48 88.18 89.77 27.00 27.01 1334.30 1334.90 1335.70 1334.30 1334.90 1335.70 37088.00 37097.00 37115.00 37060.00 37069.00 43226.00 43226.00 38140.00 38181.00 38195.00 38112.00 38126.00 43815.00 43863.00 43879.00 43784.00 43800.00 3279.00 3301.00 5267.00 86.17 85.44
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 86.77 168 88.55 43 90.19 2 26.88 53 26.89 1330.90 839 1331.50 3,227 1332.30 2,458 1330.90 8 1331.50 1332.30 5 37002.00 33 37011.00 1 37029.00 6 36974.00 1 36983.00 43126.00 43126.00 38053.00 38094.00 38108.00 38025.00 38039.00 43714.00 6 43762.00 3 43778.00 1 43682.00 38 43698.00 9 3301.00 3324.00 5228.00 86.19 85.47 -
Italian Couple performe during ice dance at European Figure Skating Championships
10
Thursday, January 27, 2011
Zvonareva blasts into Oz Open semis Monitoring Desk MELBOURNE: World number two Vera Zvonareva brushed off Czech Petra Kvitova 6-2, 6-4 to reach the Australian Open semis Wednesday and stay on course for her third straight Grand Slam final. Zvonareva shrugged off the distractions of a medical drama in the stands and a thunderous 21-gun salute for Australia Day, a national public holiday, to down Kvitova in just 75 minutes. The 26-year-old Muscovite was badly distracted during the fifth game of the second set, when she was ordered to play on despite a woman spectator needing medical attention and the celebratory artillery fire, and lost her serve. But Zvonareva recovered strongly to set up a last-four clash with either third seed Kim Clijsters or Poland's Agnieszka Radwanska, who play later. "It was a bit of a difficult moment," she said. "Someone wasn't feeling well -- it was difficult to play but the chair umpire said we had to go on no matter what. The Russian was playing her third Czech left-hander in a row following wins over Lucie Safarova and Iveta Benesova and she was clearly comfortable against Kvitova as she broke twice to open up a 4-0 lead. Kvitova got one break back and held to give herself some hope of a comeback, but Zvonareva broke once more to run away with the first set. Zvonareva two barely made an error in the opening set and she continued that form into the second, in stark contrast to Kvitova, who blasted balls wide or into the net as the pressure built. The umpire signalled for play to continue despite Zvonareva wanting to stop, then the second seed was unsettled further by the 21gun salute nearby, subsequently dropping her serve.
Nowshera win Inter-District Women Cricket PESHAWAR: A cracking century by no 3 batter Ambareen steered Nowshera to 118 runs victory against Malakand in the opening match of the 5th Regional Inter-District Women Cricket Tournament-2011 being played here at Frontier College for Women ground on Wednesday. Ambareen smashed her 115 runs after facing 107 balls and hit a vital 13 boundaries and eight six in a mini-ground inside the college. Ambareen stayed for 102 minutes at the crease and played key role in her team success. Principal of the Frontier College for Women Nauzat Liaqat was the chief guest on this occasion who formally inaugurated the event in which eight teams comprising Peshawar, Nowshera, Thana Swat, Malakand, Swat in group-A and in group-B Star women club, Swat District, Lower Dir and Charsadda are taking part. Cricket representative of PCB Women Wing for Khyber Pakhtunkhwa Ms. Hajra Sarwar and Mrs. Rahim Bibi, officials of the teams, and players were also present. Rabia Noreen made 35 runs with seven boundaries, Nazia hit another cracking 45 not out with six boundaries and two sixes, Nazneen with 25 boundaries with five boundaries and one six with 57 extras including 43 wide balls and 12 no balls.-APP
Eng put pulse in dead series ADELAIDE: England keep series alive with 21-run victory in fourth one-day international against Australia at Adelaide Oval. England (299-8) beat Australia (278-7) by 21 runs It takes a certain kind of personality to keep grinding away week after week, game after game, without allowing your mind to wander off an interminable tour like this one. A personality like Jonathan Trott’s, in fact. England’s Mr Obsessive was their matchwinner, not only striking a fine century but auditioning for a back-up bowler’s role with a spell of 7-0-31-2. Could he be our answer to Shane Watson? Perhaps not. There is little
fashionable about Trott, and it is hard to imagine him tinting his hair or strutting about on TV adverts in the manner of Watson. But he is a remorseless piler-up of runs, in all formats of the game. Trott already holds the second-highest average in the history of Test cricket (61.53). And after yesterday’s 102, he is high up the one-day chart as well with 54.38 - ahead of Michael Bevan, and behind only Hashim Amla among major international batsmen. Trott’s critics say that he scores too slowly, that his batting is all tick and no boom. But he also does something that has been beyond any of his teammates in this series: he stays in, for long periods of time. Apart
from a bizarre run-out chance that Brett Lee somehow managed to waste, his 126-ball innings involved few alarms. A fortnight ago, Trott would have been on the outside of England’s plans for the World Cup - the batsman most likely to find himself carrying the drinks in Nagpur on Feb 22. Now the selectors must be wondering how they can possibly drop such an unstoppable run machine. He found a backer in Michael Clarke, the Australian captain, who said “The earlier Jonathan gets in, the more it suits him and allows him to play his natural game. I thought he held the innings together well and allowed the others to bat around him.”-Agencies
Pakistan confident of cricket comeback WELLINGTON: Inftikhab Alam, the Pakistan's tour manager, said the team is confident of making a strong comeback in the series. He expressed his disappointment after the second one-day international (ODI) was washed out due to incessant rains.
Pakistan made a breezy start to their innings, reaching 31 without loss off 4.2 overs with Ahmed Shahzad racing to 25 off 16 balls and Mohammad Hafeez on four, when rain forced them off again less than 20 minutes after play began. Talking to a private TV at Queenstown Events Center on
Junior school boys soccer c’ship held KARACHI: As a unique educational institution that continuously strives to develop mind, body and soul of each child from an early age, Reflections held recently a junior boys football championship tournament. Twelve school teams from around Karachi qualified to compete in the championship organized for the first time by the Reflections School. The teams include Karachi Grammar, TCS Darakhshan Branch, Beacon House Jubilee campus, River Oaks Academy, TCS PAF chapter, Reflections, Beacon House Defence campus, TCS Nazimabad, KN Academy, Bayview Academy, TCS Gulshan and Education Bay. First semi-final played
between TCS PAF and KN Academy; while the second semi-final played between Reflections and Karachi Grammar. TCS PAF defeated KN Academy by 4-2 through penalty kicks. Reflections won convincingly by defeating Karachi Grammar 4-1. Reflections lost the final 4-3 against TCS PAF through penalty shootouts. Reflections School founded in 2003 with a mission to be an exemplary institution to provide a balanced education and develop God fearing leaders. The Institution was initiated by Ibadullah Welfare Trust, a nonprofit organization which involves community and its philanthropists to pool resources for equipping children for the future.-APP
MELBOURNE: Vera Zvonareva of Russia returns against Petra Kvitova of the Czech Republic in their quarter-final women's singles match on the tenth day of the Australian Open tennis tournament.-Reuters
NZ-Pak 2nd ODI rained out
Wednesday, he said "We will try to win the third one-dayer to level the 6-match series," he said. All players, he said, will be be given an opportunity to show their performance in order to finalize an ideal combination for the upcoming World Cup.-NNI WELLINGTON: Rain-washed out the second one-day international between New Zealand and Pakistan. Only 26 balls were bowled after New Zealand won the toss and put Pakistan in to bat, with the tourists at 31 without loss when poor weather forced the players back to the pavilion. In all 4.2 overs were bowled Monitoring Desk after New Zealand won the toss MELBOURNE: Injury-hit and elected to field after the world number one Rafael Nadal match got under way one hour was sensationally dumped from behind the scheduled time. the Australian Open quarterfiAhmed Shehzad was on 25 and nals 6-4, 6-2, 6-3 by Spanish Mohammad Hafeez on four, with compatriot David Ferrer on Wednesday. The defeat ended Nadal's bid for a fourth straight non-calendar year Grand Slam victory. Only Don Budge and Rod Laver have held all four titles at the same time. New Nadal looked troubled by a WELLINGTON: strapped left hamstring injury Zealand captain Daniel Vettori will sit out the third one-day which he appeared to pick up in a drawn-out second game of the cricket international against match, and needed medical time- Pakistan at Christchurch on outs to see out the 2hr 33min Saturday while the newly established opening pair of Jesse match on Rod Laver Arena. It was seventh seed Ferrer's Ryder and Martin Guptill have fourth win over Nadal in 15 been broken up after one encounters and he will now play innings together. New Zealand today made British fifth seed Andy Murray three changes to the 12 who feain Friday's semifinal. It will be Ferrer's second Grand tured in the first two matches, a Slam semi-final after he reached nine-wicket win at Wellington the last four at the 2007 US Open. last Saturday and today's aban"It's not easy because Rafael is doned match at Queenstown. Wellington left-arm spinner a gentleman and he was playing injured and we are friends," Luke Woodcock replaces Vettori, while batsman Kane Ferrer said.
Ferrer knocks injured Nadal out
extras accounting for two runs. New Zealand lead the series, which has now been reduced to five matches, 1-0 after a ninewicket victory in Wellington on Saturday. The next match is scheduled for Saturday in Christchurch. Pakistan were 31-0 when more rain fell and after hours of delay the match was finally abandoned at 3.30pm local time. New Zealand lead the sixmatch series 1-0 with the third game taking place in Christchurch on Saturday.Online
Vettori to miss out on third ODI Williamson and pace bowler Kyle Mills come into the squad for Ryder and all-rounder James Franklin. Vettori will stay with the team as 13th man, while Ryder and Franklin have been released to play for Wellington. Ross Taylor will be the captain while Jamie How will open alongside Guptill. The changes are part of the selectors' rotation policy for this six-match series and they attempt to give all 15 players in the World Cup squad time in the middle ahead of the subcontinent-hosted tournament, which starts in mid-February.-Online
Cueists trio to represent Pakistan in Asian C’ship KARACHI: Three cueists instead of two will be representing Pakistan in the 27th Asian Snooker Championship to be held in Indore (India) from April 23 to 30, Pakistan Billiards and Snooker Association (PBSA) announced on Wednesday. "Muhammad Sajjad, who finished the runner-up in the last Asian event held in Thailand last year will be an automatic selection," PBSA President Alamgir Shaikh told reporters. "If Sajjad wins the nationals, then losing finalists will be second choice while picking the third cueist will be association's discretion," he said. He said PBSA Executive Committee have changed the format for the year 2011 for automatic selection for the top two. "Now PBSA will be selecting number two for Asian and World Snooker," he said. In the meantime, Muhammad Sajjad crashed out of the quarter-final of Sangsom Lop Buri Cup 2011 in Thailand Professional Ranking Circuit going down to top Thai professional and former World Amateur Champion James Wattana of Thailand.-APP
15th Asian Cup 2011
New referee communication system hailed LAHORE: Pakistan Football Federation (PFF)'s President Makhdoom Syed Faisal Saleh Hayat praised new referee communication system that utilized by Referees and Assistant Referees in the ongoing 15th AFC Asian Cup at Doha,Qatar. The final of the event, between Japan and Australia, will be held on Saturday, 29 January at 8 PM (Pakistan Time). "The new system was tested by the AFC during 6th AFC President's Cup 2010 at Myanmar last September and has proven to be effective. The system is also seen in the
European leagues and FIFA World Cup developed by French wireless data transmission systems company Adeunis RF," said Faisal who was elected to the prestigious post of AFC Executive Committee - AFC's highest decision-making committee during 24th AFC Congress in Doha, Qatar on 6 January along with H.E. Shaikh Ali Bin Khalifa Al Khalifa (Bahrain), Dr Hafez I. Al Medlej (Saudi Arabia), Sayyid Khalid Hamed Al Busaidi (Oman), Praful Patel (India), Ali Azim (Maldives), Lee Boo Aun Winston
(Singapore), Tran Quoc Tuan (Vietnam), Zaw Zaw (Myanmar), Ganbold Buyannemekh (Mongolia), Kohzo Tashima (Japan) and Richard K. Lai (Guam).Faisal, who is also FIFA and World Disciplinary Committee member and Chairman AFC Disciplinary Committee, praised the efforts put in by Asian referees and stressed that they had given an excellent account of themselves particularly Subkhiddin Mohd Salleh (Malaysia), Abdul Malik (Singapore), Abdulrahman Mohammed
(Qatar), Ravshan Irmatov (Uzbekistan), Khalil Al Ghamdi (Saudi Arabia), Ali Al Badwawi (UAE) who supervised the tense quarter and semi finals at four Doha's venue viz Al Gharafa Stadium, Khalifa International Stadium, Jassim Bin Hamad Stadium and Qatar SC Stadium. "The refereeing has been flawless. It speaks volumes about the high standards of refereeing on the continent. Our referees consistently performed well in international competitions like the FIFA World Cup last year," said
Faisal who pointed out the role of Vision Asia in raising the overall standards of the game in Asia and added it was his dream to see an Asian refereeing the World Cup final. "To achieve that goal we need to significantly improve referees performances through intensive training sessions. While summing up about new referee communication system, Faisal said that "The new communication system has been used since the 2006 World Cup and in the European leagues. Ninetynine percent of European football leagues use this sys-
tem and in Asia, it was tested and found effective by the Mohamad bin Hammam-led AFC.The system has distinct advantages over other wireless communication systems now in use in other sports. It can be used anywhere without a need for the bulky base station and doesn't need programming. It has the ability to transmit only voice and filter crowd noise and the whistle's sound. The system also uses licence-free frequencies, which are frequencies that you don't have to pay the communication authorities for,"Faisal concluded.-Online
Cautious CEOs counting on BRICs for growth DAVOS: Global chief executives pinned their hopes on roaring growth in emerging markets at the start of the annual Davos forum on Wednesday but warned that rising inflation and political risks cast a shadow. Business leaders at the World Economic Forum (WEF) said surging food prices could spark fresh social unrest and pointed to geopolitical worries over tensions between North and South Korea and Iran and Israel, as well as unrest in Egypt. "I'm optimistic because the world is growing ... Now we are seeing a much more selfassured developing world going more its own way," Nestle chief executive Paul Bulcke told the organisers' opening news conference. But other CEOs at the event struck a more cautious tone, pointing to the numerous risks which could yet derail the fragile global revival. "Interest rates are zero today but they can only go up and higher interest rates will drive financing costs up as well," John Krenicki, chairman and chief executive of GE Energy and vice chairman of GE told Reuters. "It's not just inflation in energy but steel, cooper and general commodities." The four-day Forum in the Swiss Alps will bring together at least 35 national leaders, including the presidents of Russia and France, and over 1,400 business chiefs. The number of participants from India and China is bigger than ever.
Bankers are keen to show their industry emerging successfully from the wreckage of the global financial crisis and politicians want to dispel the gloom hanging over the euro zone. Growth in developing countries is key. "This year, we think we'll see western Europe continuing to be tepid, America more Ushaped and the fast-growing emerging markets will continue to be V-shaped," Martin Sorrell, chief executive of the world's biggest advertising group WPP , told the opening session. ENTRENCHED Resurgent inflation, however, is stalking many developing economies. Reports in China suggested new bank lending has surged in January, prompting fresh government measures to contain property price rises. India raised interest rates on Tuesday, warning that higher food prices could become entrenched if steps to boost output are not taken. Nor is the threat confined to the emerging world. Euro zone inflation exceeded the European Central Bank's two per cent target for the first time in two years last month and Bank of England Governor Mervyn King warned on Tuesday that UK inflation could hit five per cent soon. Sorrell put global economies into four divisions in terms of growth prospects: The BRICs -- Brazil, Russia, India and China -- in the top category, followed by the United States and Germany, then the rest of
Western Europe, with Japan last. "Net-net I think corporates are still uncertain," he said. "Boards are terrified of making mistakes." Russian group Vimpelcom's chief executive Alexander Izosimov, who is bidding for control of Egypt's Orascom Telecom , said he was well aware of the risks in the Middle East after recent turmoil in Tunisia and Egypt. "As you go into emerging markets, it's not unfortunately only growth and high returns, sometimes you have to deal with the risks," he told Reuters Insider television. Unprecedented protests in Egypt against President Hosni Mubarak's 30-year rule in the wake of this month's "Jasmine Revolution" that ousted Tunisian president Zine alAbidine Ben Ali were a hot topic in the corridors of Davos. Prince Turki al-Faisal, a member of Saudi Arabia's ruling family and former intelligence chief and ambassador to Britain and the United States, said he could not be sure of Mubarak's survival in power. "In Egypt, I really can't say where this is going to go," he told Reuters Insider. "Whether they can catch up as leaders to what the population is aiming (for) is still to be seen." Russian President Dmitry Medvedev, who delayed his departure for Davos after a suicide bombing on Monday killed at least 35 people at Russia's busiest airport, delivers the opening speech later on Wednesday.-Reuters
No #1
Continued from page 12
No #2
Continued from page 12
The first session focused on the importance of youth entrepreneurship culture in the education system in order to shape leaders for tomorrow. The session was co-chaired by Seema Aziz, the Chairperson of Care Foundation and amongst the key note speakers included Faisal Mushtaq from Roots School System and Dr Zubair Sheikh from FAST presented their views in this session. Many respected members of the community presented their views on the second sub-theme, including Abrar-ul-Haq, initiator of the Youth Parliament Pakistan (YPP), Sabiha Shaheen from Bargad and Sumbal Naveed from 'Right to Play' under the shadow of the Session Co-chair, David Martin, the Country Director of British Council, Pakistan. Abrar-ul-Haq emphasized on the importance of the vision of youth and looked forward to a better future. -Agencies
No #3
Continued from page 12
Security experts said the tip-off had revealed that a criminal gang based in the Moscow suburbs was assisting a Chechen bombing making squad and that a suicide cells was travelling from training camp. A newspaper close to Russia's FSB security service published what it claimed was a warning to Moscow police issued in December that said there was credible intelligence that a suicide squad made up of three women and one man from Chechnya was headed to Moscow. An al Qaeda linked website said that the group Islamic Caucasus Emirate, led by the rebe Doku Umarov, was poised to claim it had staged the attack. It said that Russia's harsh military measures against independence activists in the Caucasus had provoked the attack." The daily Kommersant newspaper said security service officials were alerted to the extent of the threat when a woman accidentally blew herself up on New Year's Eve in Moscow. The region, which includes restive internal Russian republics such as Chechnya, Ingushetia and Dagestan, is in the grip of a growing insurgency and has served as a launching pad in the past for a series of deadly strikes on civilian targets in Moscow and other cities. -Agencies
No #4
Continued from page 12
This irregularity was identified in audit report as well. His appointment as advisor to Wapda had also come under sharp criticism in Senate and members of Senate had expressed their reservations over his educational qualification and competence.Government has not only appointed him advisor to ministry of water and power but also has assigned the responsibilities of consultant to electricity distribution and transmission improvement project launched with the World Bank loan of 173 million dollars. Report said that government had faced humiliation on such appointments earlier particularly appointment of Adnan Khwaja former MD Oil and Gas Development. Later he was removed from his office. While a corruption case was also pending hearing in Supreme Court against former DG Hajj Rao Shakil. During the hearing of the case of corruption against Rao Shakil, chief justice of Pakistan had raised the question as to why government appoints corrupt elements on top posts. -Online
Policy split widening at BoE, minutes show LONDON: Bank of England Governor Mervyn King faces growing opposition in his Monetary Policy Committee as inflation boosts pressure for an early interest rate hike, minutes of the committee's last meeting suggested on Wednesday. Martin Weale, who had been viewed as a moderate, unexpectedly joined longstanding hawk Andrew Sentance on the nine-member committee by calling for an immediate 0.25 per centage point rise in interest rates, minutes of the Jan. 12-13 meeting revealed. "The cracks are starting to appear in the MPC consensus," said Brian Hilliard, economist at Societe Generale. "Not only did Weale vote for a rate increase, there's a hint that other members were teetering on the brink of doing that as well." The pound rose and short sterling interest rate futures tumbled on the news, which came a day after shock data showed Britain's economy contracted in the last three months of 2010. Market expectations for future interest rates have swung wildly over the past two days. Investors now see a first hike in August as the most likely outcome; before Tuesday's gross domestic product data, the markets had generally expected a hike in May. In a rare public speech on Tuesday, King mounted a determined defence of the BoE's decision not to lift interest rates over the past year, arguing that inflation would fall back in 2012 as its recent surge was due to one-off pressures from import prices, oil and rises in indirect taxes.Reuters
WASHINGTON: New US single-family home sales raced to their highest level in eight months in December while prices were the highest since April 2008, raising cautious optimism for a housing market recovery. The Commerce Department said on Wednesday sales jumped 17.5 per cent to a seasonally adjusted 329,000 unit annual rate after a downwardly revised 280,000-unit pace in November. Economists, who had expected new home sales rise to a 300,000-unit pace last month, took the fairly upbeat report as a tentative sign of a turnaround in the troubled housing market. November sales were previously reported at a 290,000 unit rate. "Things are definitely perking up, but there is a question whether it's sustainable," said Brian Bethune an economist at IHS Global Insight in Lexington, Massachusetts. US stocks rose slightly,
while Treasury bond prices slipped modestly after the home sales data. The dollar was little changed. The report is the latest in a series to suggest the economic recovery is gaining strength and broadening out. Federal Reserve officials are expected to nod to the improving economic outlook at the end of a two-day meeting later on Wednesday, but remain firmly committed to the $600 billion bond buying program to aid the recovery. Data last week showed a surge in sales of previously owned homes in December, but progress could be frustrated by a glut of homes from an unrelenting wave of foreclosures. But the new home sales report showed supply is gradually being reduced as sales rise. The supply of new homes on the market fell to 6.9 months' worth, the lowest since April, from 8.4 months' worth in November.
There were 190,000 new homes available for sale in December, the lowest in 43 years. "We haven't found a bottom yet and the best we can say is that perhaps we will find it this year," said Michael Woolfolk, a senior currency strategist at BNY-Mellon in New York. The median sales price for a new home increased 12.1 per cent last month from November to $241,500, the highest since April 2008. Compared with December last year, the median price rose 8.5 per cent, the biggest increase since August. Separately, applications for home mortgages, seen as a gauge of home demand, slumped last week as bankers recorded the slowest refinancing activity in more than a year. The Mortgage Bankers Association's index of mortgage application activity dropped 12.9 per cent in the week ended Jan. 21.-Reuters
petition, keeps competitive pressure on the local industry and protects consumers from possible exploitation. The Commission issued its NOC for the proposed merger with the following conditions importantly requiring FFC to file its commitment within four weeks from the date of issuance of this decision to comply with all the conditions stipulated in the order, in letter and in spirit and the clearance/approval given by CCP shall only be deemed effective upon the filing of such commitments: 1FFC shall maintain "tara" and "sona" brands separately for two years and there shall be a price cap on the price increase of "tara" product by FFC for a period of one year (although with efficiencies claimed it is expected that the price for `tara' shall go down). The maintenance of the two brands shall be subject to review after a period of one year or any time later but prior to two years; provided the market share of Urea acquired by FFC i.e., 6% drops from the existing market share through distribution or redistribution amongst existing and upcoming players in the fertilizer sector. 2the FFC shall maintain transparency for any change in price in all its fertilizer products and shall for the period of three years intimate to theCommission any price escalation along with reasons for such price increase (if any) within seven days of such increase. 3Subject to review of this decision as stipulated below, the Commission if deemed necessary may require FFC to divest a portion of shareholding in Hazara. 4In terms of sub-section 11(b) of Section 11 this approval is subject to review within one year under sub-section 13 of the said section. For the purpose of review, the following shall be considered as a yardstick which may include but shall not be limited to the monitoring of:unexplained escalation in price levels, tendency of price parallelism, changes in market share and levels of concentration, new investments made in Balancing Modernization Replacement of the target firm by the acquirer leading to enhancement of production capacity; and commitment to nondiscriminatory behavior. The Bench has observed that while competition generally drives undertakings to achieve efficiencies Continued from page 1 No #5 internally, the primary benefit of the mergers to the economy is their potential to produce substantial He contended under the same provision, the executive were efficiencies by enhancing its ability and incentive to compete. Efficiency claim, however, should not be vague or speculative and should be verifiable by reasonable means. Be it incremental cost reduction given the powers to utilize such natural reserves and deposits. He said under the Mining Rules 1998, there were no provision which may control the incentive to increase prices or leading to new and improved products or the abilfor sale or transfer of ownership rights which had been witnessed ity of merged firms to conduct research or development which may encourage innovation. in BPH and TCC case. To bench's query he replied that there was Continued from page 1 No #12 difference between the Mineral policy of 1998 and Mineral Rules to delay the opening of the assembly by a month so a special poll court he set up could have more 2000. The Balochistan government had made relaxation in the Rules for the BHP, a mining company, and about 13 exemptions time to investigate fraud in the Sept 18 election. Karzai, who has already accused Western powers of meddling in a fraud-ridden presidential poll that saw him re-elected in 2009, said foreign interference were made for the company to carry out work in the province. Justice Khalil-ur Rehman Ramday reading out provisions of in last year's parliamentary vote was one of the things that sullied the results. "During the election process we faced serious problems in protecting people's votes, preventing Rules 1998 said that the term relaxation indicated individual hardship and under special circumstances which should be recorded in fraud and from the interference of foreigners," Karzai said in his opening speech to members of the assembly shortly before they were sworn in. "We must 'Afghanise' government institutions and the writing with terms and conditions. To bench's query the counsel replied that he did not know how the concerned authorities made elections. Undoubtedly, elections convened by the Afghans will be more transparent, less expensive," such relaxations. Justice Muhammad Sair Ali observed that there he said. "I think what he meant is that he wants in the future to have much more involvement of the might be terms and conditions while in special circumstances, the Afghans in their own elections and we agree," said Staffan de Mistura, the top envoy in Kabul. "The special court is key. I think we can expect to see the president using what he says are legal justifiable terms had to be made. -Agencies powers to try to remove some parliamentarians," said a senior Western diplomat. Continued from page 1 "We are not over this. He will try to do something, if only to weaken legitimacy of parliament," the No #6 vulnerable and this kind of kicked the chair out from under diplomat said on condition of anonymity because of the sensitivity of the topic. -Reuters them," she said. Monsoon floods starting in late July last year devContinued from page 1 No #13 astated Pakistan. More than one-fifth of its territory was inundatKaira briefing the media about decisions said Optional Protocol would enable the ed and 20 million people affected. Ten million were left homeless Government to fulfill its national and international obligations regarding child rights. The and nearly 2,000 people died. Six months later, many communiUnited Nations and the Organization of Islamic Conference (OIC) has also urged the member ties in Sindh are still surrounded by floodwaters. In Sindh and states to ratify the protocol, he added. The Cabinet ratified and accorded its approval for UN Baluchistan, some 600,000 people are still living in temporary Convention on the Rights of Persons with Disabilities, he said, adding that being member camps, according to the World Food Programme. The United states of UN, it is obligatory for all member states to sign and ratify the Convention provided Nations appealed for $2 billion in emergency aid, but only 56 per they have no reservations. cent has been delivered, according to Oxfam. -Reuters The Government of Pakistan signed this Convention on September 25, 2008 after approval of the Cabinet, 147 member states have signed and 96 states have ratified this Convention. Continued from page 1 No #7 The minister said that the Cabinet also ratified and gave its approval for signing of agreeKardar said that the meeting was apprised of the details about ment between Government of Republic of Indonesia and Islamic Republic of Pakistan on loan write-off by the financial organizations. "We provided two lists of loan write-off, the first list was from cooperative activities in the field of defense.Cabinet accorded approval for initiation of nego1971 to 2003 and the second was from 2003 to onward", he tiations to conclude an agreement between the Islamic Republic of Pakistan and the Republic added. Kardar said that 95 per cent of total loan write-off consists of Senegal for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, he said. of small loans amounting to Rs0.5 million or less than 0.5 million. Continued from page 5 He informed that out of the total write-off 48 per cent was made No #14 by the foreign banks or financial organizations adding that the Volumes stayed marginally higher as 139.3 million shares traded during the day which is 2 milgovernment borrowing from SBP had reached Rs155 billion till lion more as compared to137.3 million shares on Tuesday. September 2010. Talking on the occasion, Senator Ishaq Dar said Lotte Pakistan stood as the volume leader with 47.53 million shares followed by Pace Pakistan that the government of Punjab has started to implement the poli- with 12.51 million shares and Fauji Fertiliser Bin Qasim with 7.93 million shares. Though, market cy of economic reforms and merged the seven organizations to managed to close on a positive note but most of the stocks ended the session on negative side mainsave the national exchequer. The next meeting of the ly due to profit-taking at higher levels. Therefore out of total 394 active issues, share prices of 223 Parliamentary Committee would be held on January 31 and then declined, 144 appreciated, and 27 issues remained unchanged. on February 2, however the sub committees would continue their Continued from page 5 No #15 deliberations on different issues. -Online The PHLX housing index .HGX advanced 1 per cent, with Hovnanian Enterprises Inc adding 3.1 Continued from page 1 No #8 per cent to $4.60, and KB Home up 3.6 per cent to $15.80.-Reuters during December 2010 stood at Rs3143 per bag compared with Continued from page 5 No #16 Rs2008 per bag during December 2009, an increase of 56.5 per period last year mainly due to improved cash flows. The other operating income of the company cent in YoY. significantly increased by 95.4 per cent YoY to Rs894 million against Rs457 million in the same last Continued from page 1 No #9 year owing to surplus cash flow available from operations. meeting were Minister of State for Finance and Economic Continued from page 5 No #17 Affairs, Hina Rabbani Khar, Governor of State Bank, Deputy "Inflation fears in emerging markets are clearly one of the key concerns now weighing on share Chairman Planning Commission, Federal Secretaries of Finance, Economic Affairs Division, Revenue and Special Secretary. And prices. Falling commodities prices are making investors nervous about making large investments in risk the US Adviser was assisted by Robin Rafel and officials from the assets," Okasan's Ishiguro said. Oil and gas exploration company Inpex fell 1.3 per cent to 519,000 yen. Earnings were in focus with Komatsu Ltd initially climbing on a report that it is expected to post US Embassy. -Agencies better-than-expected results for October-December. The Nikkei daily said it would likely log an Continued from page 1 No #10 operating profit of about 220 billion yen ($2.7 billion) for the year to March 31, roughly triple its audit system, tax system in the country could not be improved. previous year's result.-Reuters The minister said the government is taking all possible measures Continued from page 5 No #18 to improve audit system. She said under the 18 amendment, tax on appears to have subsided for now," Michael Hewson, market analyst at CMC Markets, said. agricultural is subject of provincial government. The minister also Miners and energy companies were the standout performers on London's blue-chip index, climbinformed the house that Reformed General Sales Tax has nothing ing on the back of the previous session's weakness along with metal and crude CLc1 prices. to do with income tax. -Online Chilean copper producer Antofagasta rose 3.3 per cent. Oil major BG Group added 3.4 per cent, Continued from page 1 No #11 helped by its partner -- Brazil's state-run oil giant Petrobras -- announcing an oil find in the Santos ascertain the probability that the merged entity in the post-merg- basin. BP fell 1.1 per cent, with traders citing rating downgrades from Societe Generale and Collins er market will behave competitively or cooperatively. Stewart. "Capable crisis management reflected in recent strong outperformance -- which we use to The Commission is also of the view that free trade ensures com- downgrade to 'hold' on valuation grounds," SocGen said in a note.-Reuters
CONTINUATION He said it is wrong to say that Pakistan is more dangerous than Afghanistan; this is just propaganda of Afghan president Hamid Karzai. He himself is living in Palaces and sends his policemen for training to India. Replying to a query regarding statement of US Secretary of State Hilary Clinton that Osama bin Laden is hiding somewhere in Pakistan, the former president said she should provide proof of this. It is just ramous, lots of people say that he is in Somali or some other country and I also say that he could be in Somalia. He rejected the allegation that Pakistan army has Taliban sympathisers or is training them added there could some but not the entire army. Regarding Pakistan nukes falling into the hands of terrorists he said that it is not possible as a strategic command is protecting it. -Online
11 US new homes sales at 8-month high, prices soared up
International & Continuation
Thursday, January 27, 2011
www.asharys.net
For Subscription
Manager Circulation Ahmad Omer
1.Classic News Agency Abdul Mutalib Ph: 0333 -230 07 66 2. E-mail at subscribe@thefinancialdaily.com, 3.SMS us at 0322-260 2 838 4. Contact Phone: 35 31 18 93 - 6
Italian Kitchens Karachi
Lahore
tel: 92(21)5860794-5
tel: 92(42)5694061-2
12
Thursday, January 27, 2011
RIAZ NEWS AGENCY Cell # 0333-5373137
SHAKIL NEWS AGENCY Cell # 0333-4400472
Congress Joint Session
US says Qaeda under immense pressure in Pak Terrorists continue to plan attacks: Obama WASHINGTON: President Barack Obama Wednesday said al Qaeda and its affiliates continue to plan attack against the United States even as he said that Osama bin Laden-led outfit is under pressure in Pakistan. "As we speak, al Qaeda and their affiliates continue to plan attacks against us, thanks to our intelligence and law enforcement professionals, we are disrupting plots and securing our cities and skies," Obama said in his State of the Union Address before a joint
session of the US Congress. "As extremists try to inspire acts of violence within our borders, we are responding with the strength of our communities, with respect for the rule of law, and with the conviction that American Muslims are a part of our American family," said the US President. Reiterating that the al Qaeda leadership in Pakistan is under more pressure than at any point since 2001, he said his administration is determined to defeat
the terrorist outfit. "In Pakistan, al Qaeda's leadership is under more pressure than at any point since 2001.Their leaders and operatives are being removed from the battlefield. Their safe-havens are shrinking," Obama said. "We have sent a message from the Afghan border to the Arabian Peninsula to all parts of the globe: We will not relent, we will not waver, and we will defeat you," the US President said. Online
‘Govt promoting entrepreneurship’
Plan Comm terms private sector as economy-mover ISLAMABAD: Deputy Chairman of Planning Commission Dr Nadeem-ul Haq on Wednesday stressed the need for promoting private sector to accelerate economic growth in the country. "For high growth rate, we need to promote private sector entrepreneurship along with vibrant and globally connected communities," he said while addressing the concluding session of a seminar on "Youth social and economic entrepreneurship." The seminar was organized by United Nations Development Programme (UNDP) and Center for Poverty Reduction and Social Policy Development (CPRSPD) here on Wednesday afternoon. US Coordinator for Economic Development to Pakistan Robin Rapheal co-chaired the session. Dr Nadeem-ul Haq expressed the need for planning to actively promote youth development. Citing an example, he said, "Poor quality of education in public schools has resulted in parallel education systems, which are completely disconnected from each other producing two different sets of individuals: the socalled liberal elites on one hand and the
conservative masses on the other who seemingly live on different planets." Dr Nadeem-ul Haq said that the education and skill training systems are producing individuals for elementary skill job market. He added that those who are considered trained have mostly acquired basic or intermediary skills, which are either least in demand or outmoded. "Even some donor driven skill acquisition programs are focusing on producing more plumbers and electricians, but least we know about where and how this low skilled labor force will be absorbed? Dubai has had its own bust, which was a famous destination for these least skilled workers', he remarked. The Centre for Poverty Reduction and Social Policy Development (CPRSPD) held a Roundtable on "Youth Development and Economic Growth" on January 25 at the Planning Commission. The roundtable brought together prominent leaders working for youth development, young entrepreneurs and a handful of donors from across the country to promote youth development in Pakistan with active involvement of both private and the public sector. See # 2 Page 11
Pak-Iran trade gate reopened QUETTA: Iranian authorities have opened the mutual trade gate ZeroPoint situated at Pak-Iran border after about 6 months for trade hereon Wednesday. Iranian authorities after a suicide attack, in a mosque of provincial capital Zahedan of Iranian province Seestan that had left dozens injured and killed several, closed up the trade gate, Zero-Point, for all types of trades on 15th of July, 2010. The closure of the trade gate creat-
ed great problems for the people living on both sides of the border. It has suspended the supply of eatable items as well. The closure not only affected the people living on both sides of the border but also hung up the source of livelihood of the individuals related to the ZeroPoint. Iranian authorities have opened Zero-Point for all kinds of trades which has jubilated the residents of the area. -Online
ISLAMABAD: President Zardari chairing a presentation on “over all review of agricultural research activities with emphasis on cotton and wheat” given by Pakistan Agricluture Research Council (PARC) at the Aiwan-e-Sadr.-APP
Musharraf pitches for Yet another nat’l govt in Pakistan corrupt appointee
ISLAMABAD: Government has appointed Shahid Sattar as advisor to ministry of water and power who is only matriculate and is not only allegedly involved in several corruption cases but was also dismissed from service as advisor to water and power ministry in 1998 under the orders of the then prime minister. According to a private TV channel three different cases were registered against Shahid Sattar in two police stations of federal capital under the charges of forgery and corruption. First case was registered with secretariat police and he was charged with misusing his powers and committing corruption, corrupt practices and forgery while being the president of Orion Petroleum International. Second corruption case was registered by secretary petroleum GS Sabri in 2002 with Kohsar police. Third case was also registered with Kohsar Police where Shahid Sattar was alleged of spending illegally over 700,000 rupees being as advisor to Wapda. See # 4 Page 11
Former president talks with ME newspaper
JEDDAH: Former president Gen (Retd) Pervez Musharraf has said that a national government should be formed in Pakistan as that would be in the best of national interest, adding that he would definitely return to Pakistan. "I would definitely go to Pakistan. Right now I am heading my own political party and soon as it gains ground I would return and face the court cases", Musharraf said in an interview with Arabian language newspaper Al-Sharq Al-Ausat. He said that he left Pakistan as he
was facing life threats and due to judges being political. He said that he feared that baseless cases would be filed against him. He said that he believes Pakistan needs a national govt as that it would be in the country's largest interest. He said that his foes blame him for the current economic woos in the country but even a blind man can judge the difference between statistics of today's economy and those of in his tenure and can decide who is responsible for the economic degradation. In response to a question he said that
he is willing to work with any party. Talking about drone attacks, he said he never gave a go-ahead to the US to launch drone attacks in tribal areas. "One can see that in my tenure only nine drone attacks occurred while in this govt tenure 150 drone attacks have occurred", the president said. In response to a question he said that US can ever win the war in Afghanistan. Most of the Taliban are Pashtun and a govt of Pashtun should be formed but it is being headed by a Tajik minority and this won't solve the problem. See # 1 Page 11
Pir Karam becomes GB Governor ISLAMABAD: Pakistan Peoples Party leader Pir Karam Ali Shah has been appointed new governor of Gilgit-Baltistan (GB). He has been appointed as GB governor by President Asif Ali Zardari on the advice of Prime Minister Yousuf Raza Gilani. Karam Ali Shah is popular political personality of northern areas. He was elected as council member of northern areas in 1977 and he is now member of legislative assembly. Pir Karam Ali Shah has been appointed GB Governor after the demise of former governor Shama Khalid.
Bomber indoctrinated in Pak, blames Moscow LONDON: The two suicide bombers who carried out the Moscow attack were thought to be part of a suicide squad trained in Pakistan's al Qaeda strongholds and sent to the capital to target the city's transport system, reported The Telegraph. Russian security services warned in December that there were two attack teams primed to carry out attacks, sparking fears there could still be terrorists at large who were prepared to carry out another attack. Intelligence sources said that the squads had established a base, at a house in Moscow, where the suicide belts to be used in attacks, were assembled.
Russian security sources said Tuesday that a male and female suicide bomber from the Black Widow brigades had carried out the bombing together. The attack had been closely supervised by three accomplices, who had watched from a distance and are now being sought by the authorities. A Russian security official said the bomb that ripped through Moscow's Domodedovo airport was carried by a woman who mingled in the crowd at arrivals. She then either set the bomb off herself or someone else detonated it using a remote-control device. An eyewitness said the woman had been dressed in black and had worn a veil, suggesting she may
have been a 'Black Widow' suicide bomber from the North Caucasus region out to revenge the killing of her husband by Russian security forces. "The explosion occurred the moment the presumed female suicide bomber opened her bag," the security source told the RIA Novosti news agency. "The terrorist was accompanied by a man. He was standing beside her and the blast tore off his head." Intelligence services have been embarrassed by the revelation that informants had warned of an attack on an airport in the Russian capital just weeks before the incident. See # 3 Page 11
Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.