International Karachi, Saturday, January 29, 2011, Safar-ul-Muzaffar 24, Price Rs12 Pages 12
Cabinet-cut to be constitutional: PM
Egyptians evidence they're no ‘mummies’
See on Page 12
Malik offers B'stan briefing in camera
See on Page 12
Chinese miner eyes Thar Coal
See on Page 12
See on Page 12 Economic Indicators Forex Reserves (22-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
$17.30bn 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% $1,051 175.01mn
President reviews Sindh, B'stan mega projects
Afghan war radicalising region: Imran
Hydrocarbon reserves, focus
Portfolio Investment SCRA(U.S $ in million)
197.74 2.34 1.30 3065
Yearly(Jul, 2010 up to 27-Jan-2011) Monthly(Dec, 2010 up to-27-Jan-2011) Daily (27-Jan-2011) Total Portfolio Invest (21 Jan-2010)
NCCPL (U.S $ in million)
FIPI (28-Jan-2011) Local Companies (28-Jan-2011) Banks / DFI (28-Jan-2011) Mutual Funds (28-Jan-2011) NBFC (28-Jan-2011) Local Investors (28-Jan-2011) Other Organization (28-Jan-2011)
1.13 5.97 -1.29 2.06 -0.65 -4.82 -2.40
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,462.70 10,360.34 23,617.02 18,395.97 2,659.04 2,752.75 5,919.60 11,950.85
Change 14.30 118.32 162.60 288.46 9.62 3.60 45.48 38.98
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)
$.Price PKR/Shares 2.60 111.40 19.01 162.90 2.00 42.85 1.70 36.42 11.39 39.04
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
26-Jan-2011 26-Jan-2011 26-Jan-2011 29-Nov-2010 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011
13.67% 13.71% 13.88% 14.00% 13.59% 13.79% 13.90% 14.24% 14.34% 14.2% 14.22% 14.21% 14.62% 14.81% 14.98%
Commodities *Crude Oil (brent)$/bbl 97.73 *Crude Oil (WTI)$/bbl 86.81 *Cotton $/lb 168.44 *Gold $/ozs 1,319.70 *Silver $/ozs 27.27 Malaysian Palm $ 1,208 GOLD (NCEL) PKR 37,088 KHI Cotton 40Kg PKR 11,574
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 84.70 Canadian $ 85.90 Danish Krone 14.00 Euro 116.30 Hong Kong $ 10.90 Japanese Yen 1.031 Saudi Riyal 23.35 Singapore $ 66.70 Swedish Korona 12.00 Swiss Franc 85.80 U.A.E Dirham 23.35 UK Pound 136.30 US $ 86.05
Sell (Rs)
85.70 86.90 14.70 118.00 11.00 1.057 23.60 67.70 12.10 86.40 23.60 137.80 86.35
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
84.76 86.05 15.75 117.42 11.00 1.044 22.85 66.86 13.29 90.67 23.33 136.16 85.69
84.96 86.25 15.79 117.69 11.03 1.046 22.91 67.02 13.32 90.88 23.39 136.48 85.88
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
21°C 26°C 22°C 27°C 18°C 18°C
MIN
1°C 11°C 4°C 4°C -4°C 4°C
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DAVOS: Imran Khan Chairman Tehreek-e-Insaaf Pakistan speaking during the session “The Reality of Terrorism” at the Annual Meeting 2011 of the World Economic Forum.-Reuters
Wapda, Pepco consume Rs412,179mn subsidy: Hina
Budget deficit hits Rs2.38tn in 3 years ISLAMABAD: Minister of State for Finance Hina Rabbani Khar Friday told National Assembly (NA) the budget deficit swelled to Rs2386 billion during 20072010. She said this while responding to a query during question hour in the House session. Expenses incurred on security, subsidy on energy, and food items, slowing remittances and higher expenses in the provinces were the main reasons behind this massive swell, she added. In line with NFC Award, Rs300 billion have been transferred to the provinces, she
Interpol red warrant for top NICL scammer ISLAMABAD: On the request of Federal Investigation Agency (FIA) Interpol has issued Red Warrant for the arrest of Amin Qasim Dada, one of the key culprits of the National Insurance Corporation Limited (NICL) scam. Amin Qasim Dada, despite being on Exit Control List (ECL), somehow succeeded in fleeing to London via Afghanistan. DG FIA Sindh Moazzam Jah Ansari told media that Interpol has been engaged and a Red Warrant is out for Dada's arrest. The bounty on his head has been fixed at Rs1 million. It may be noted that some of the culprits were arrested in alleged NICL scam including Director Ayaz Niazi, Gulrubai Gardezi and Nafees Hassan Zaidi and cases were registered against them subsequently. The accused, who are still wanted, are Javed Saeed, Khalid Anwar, Khawaja Akbar, and Ameen Qasim Dada. It should also be noted that the accused were allegedly involved in purchase of 10 acre land in Karachi at the cost of Rs900 million whereas according to Board of Revenue Sindh, the market value of the land is not more than Rs400 million. Ameen Qasim Dada is also a prominent figure in the scam because of his contacts with DG FIA Wasim Ahmed. Investigations are underway on the directives of apex court in this regard.-Online
pointed out. But federation was still holding the same responsibilities. Foreign aid would start flowing in within next six months, she informed the House. Government borrowed more than Rs1000 billion from State Bank of Pakistan (SBP) and other banks during the period starting from March 2008 to December 2010, she stated. Hina said the budget deficit for the year 2010-11 stands at Rs685 billion which is 4 per cent of the GDP. She went on to say that government has slashed its expenses by Rs300 billion. However, federation was still
bearing the expenses of the ministries transferred to the provinces, she added. Meanwhile Hina also informed the Senate that the government has provided subsidy of Rs412,179.979 million to Wapda/Pepco during the last five years. To a question, she said that an amount of Rs19,544.525 during 2005-06, Rs41,933.820 million in 2006-07, Rs113,657.800 in 2007-08, Rs90,453.953 million in 200809 and Rs146,589.881 million in the year 2009-10 was provided as subsidy. Hina said that the See # 8 Page 11
ADB’s $242mn on way to better T&D ISLAMABAD: The Asian Development Bank will provide $242 million to Pakistan to help modernise electricity transmission lines and curtail losses that have contributed to a crippling power shortage, the bank said on Friday. Country faced a power shortfall that peaked to between 4,000 and 5,000MW during the summer of 2010, sparking street protests and adding to the government's problems as it battles a deadly Islamist militancy. The new loan is part of $810 million the Manila-based bank approved for Pakistan in 2008 for the country's Power Distribution Enhancement Investment Programme, the bank said in a statement. "This project will not only reduce electricity loss during delivery to the customers but
also improve the quality of service," said ADB's country director, Rune Stroem, who signed the loan agreement with Pakistani officials on Friday. Outdated power grids and rampant electricity theft mean that some grid companies experience line losses of up to 30 per cent to 40 per cent, energy experts say. The project includes investments in a secondary transmission grid and will include the addition of 3,380 megavoltamperes of transformer capacity, and 387km of new distribution lines. The bank this month also approved a loan of up to $100 million to UK-based International Power PLC to build a gas-fired 404-megawatt power plant in the southwestern Balochistan province, See # 7 Page 11
2nd installment under fiscal relief package
MFBs/DFIs can claim markup subsidy now Staff Reporter KARACHI: The State Bank of Pakistan has advised banks, development finance institutions (DFIs) and microfinance banks (MFBs) to submit claims for second installment of markup rate subsidy with respect to Fiscal Relief Package of the Government of Pakistan for the beneficiaries of eligible sectors other than textiles in Khyber Pakhtunkhwa, Federally, and Provincially Administered Tribal Areas. According to a Circular (SMEFD Circular Letter No 3)
issued Friday the Ministry of Finance has advised to release 2nd installment of the subsidy under the Scheme for the period from 01-07-2010 to 31-122010 to the beneficiaries of other eligible sectors. It maybe mentioned here that the State Bank of Pakistan had already advised banks/DFIs to submit their claims for second installment for the beneficiaries of textile sector through a circular on January 15, 2011. According to the Circular, under the modus operandi of the Scheme the rate of markup See # 6 Page 11
ISLAMABAD: In three consecutive presentations in the Presidency on Friday the President reviewed progress on mega development projects in Sindh and Balochistan. The projects include small dams, rehabilitation of bunds in flood affected areas and oil/gas production in the two provinces. He also reviewed the progress on the new modern city Zulfiqarabad in Sindh. The presentations given by relevant experts and senior officials were attended by Governor Balochistan Nawab Zulfiqar Ali Magsi, Federal Ministers Syed Naveed Qamar, Raja Pervaiz Ashraf, Deputy Chairman Planning Commission Nadeem-ul-Haq, provincial ministers and senior federal and provincial government officials. Briefing media Spokesperson to the President Farhatullah Babar said that the President has advised the Ministry of Water & Power and the provincial governments to speed up work on construction of new
PSM's acting CEO fired ISLAMABAD: The Board of Governors of Pakistan Steel Mills has suspended the services of Imtiaz A K Lodhi as acting Chief Executive Officer and Chief Financial Officer (CFO) of the Pakistan Steels Mills with immediate effect. The decision to this effect was taken in an emergency meeting held here on Friday, a press release issued Friday said. The Board of Governors placed Wasif Mehmood, Principal Executive Officer as the acting Chief Executive Officer in addition to his present assignment. The board also requested the Ministry of Industries and Productions to immediately nominate a full time CEO for Pakistan Steel so that the board may confirm his appointment in its next meeting scheduled for Feb 4. It also requested the ministry to take up the matter with the Interior Division for placing the name of Imtiaz A K Lodhi in the Exit Control List ECL). It is pertinent to mention here that the Ministry of Industries and Production has already sent a summary to Ministry of See # 10 Page 11
Amended Ogra Bill 2010 gets Senate OK Special Correspondent ISLAMABAD: The Upper House of the Parliament on Friday unanimously passed the Oil and Gas Regulatory Authority (Amendment) Bill 2010. The Bill was moved by Advisor to Prime Minister Nawabzada Ghazanfar Ali Gul to further amend the Oil and Gas Regulatory Authority Ordinance 2002 (The Oil and Gas Regulatory Authority (Amendment) Bill 2010.
PPP granted credit for ‘ polity of amity’ ISLAMABAD: PPP Government having firm conviction in the principles of the democracy was following the policy of reconciliation. President Asif Ali Zardari said this while talking to MPs from PPP belonging to Khyber dams to not only meet the growing requirements of irrigation and drinking water but also to empower women of the area by free distribution of state land in the command areas of the newly constructed dams. The small and medium dams the progress of which was reviewed at the meeting include Darawat and Nai Gaj in Sindh and Naulong, Winder and Hingol in Balochistan. The briefing on dams was given by Chairman Wapda Shakil Durrani. In the presentation on utilisation of gas from the new discoveries and abandoned gas fields, the President advised the federal government to ensure provi-
Pakhtunkhwa who called on President Asif Ali Zardari at Aiwan-e-sadr on night before Friday. The delegation comprised MNA Mehboob-ullah Jan, Deputy Speaker National See # 12 Page 11 sion of gas to the surrounding villages within 5km of all gas fields. Progress on an earlier directive for reactivation of abandoned gas fields in Sindh to improve much needed energy supplies was also reviewed. Minister for Petroleum Syed Naveed Qamar who gave the presentation highlighted the issues involved and the proposed mechanics for reactivating abandoned gas fields. It may be recalled that during a meeting in Karachi early this month the President had directed preparation of a comprehensive plan for pumping oil and gas from See # 11 Page 11
Awarding of Reko Diq contracts in 1993
Mine-deal gifters seen out of mind SC says agencies' hand in missings evidenced ISLAMABAD: Justice Khalilur-Rehman Ramday on Friday suspected the mental health of those who awarded mining contracts to foreign companies like gifts in 1993. He observed this while hearing a number of petitions challenging the award of the contract to the TCC --a Canadian consortium of Barrick Gold and Antofagasta Minerals-- to mine gold and copper in Reko Diq, a small desert town in Chagai district of Balochistan, a private TV reported. Four-member bench hearing the case comprised Chief Justice Iftikhar Mohammad Chaudhry, Justice Mohammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday. Advocate General Balochistan Salahuddin Mengal presented before the court details of the mining licences
awarded to the foreign companies, saying of 10 licences 8 were surrendered in1998. He further told the court that the first licence was given in 1993 with the approval of the (then) governor. On that the court observed that no governor has any authority to award such contracts. Mengal asked the court to order investigation about the officials involved in the above said process, and added that the companies earn $60 million profit but had not given anything to Balochistan government. In 2006, Barrick Gold and Antofagasta Minerals companies bought shares of BHP Company while the exploration license of TCC is going to be expired in February, the court was told. Deploring the whole process, Justice Ramday maintained, "I See # 4 Page 11
Pakistan asked US to police TAPI: WSJ ISLAMABAD: Pakistan has sought US help to ensure security for a proposed 1,680-kilometer-long pipeline that will transport natural gas from Central Asia to South Asia through war-ravaged Afghanistan. Pakistan's finance ministry said in a statement it informed a US delegation led by David Lipton, senior adviser on economy to the US president, of its concerns about the security of the proposed TurkmenistanAfghanistan-Pakistan-India pipeline, reported The Wall Street Journal. About 735 kilometers of the pipeline will pass through Afghanistan, including the violent Kandahar province that has high Taliban presence, and 800 kilometers will pass through Pakistan, including its tribal areas, posing a big security
challenge to the project. The pipeline has been under discussion for about two decades and has US backing as it will provide millions of dollars to Afghanistan in the form of transit fees and also job opportunities. It will also cut down South Asia's dependence on Iran, which has been seeking to supply gas to India and Pakistan through another proposed pipeline. Turkmenistan, which has the world's fourth-largest gas reserves, is looking to seal deals with new consumers. India and Pakistan have been trying to secure energy supplies for their economies. The four participating nations signed an inter-government gas pipeline framework agreement and a gas sales purchase agreement in September. An See # 5 Page 11
2
Saturday, January 29, 2011
Sharmila talks to Sindh info dept officers
Pak-China trade up at $8.7bn last year BEIJING: During the last one year - 2010 - PakistanChina bilateral trade has registered an overall growth of 28% and has reached the US$ 8.7 billion mark. In 2009, Pakistan-China trade was US $6.7 billion. Masood Khan, Pakistan's Ambassador to China, welcomed the swift increase in the volume of bilateral trade. The most remarkable growth has been in Pakistan's exports which increased last year by 37.44%; while imports from China also grew by 25%. The Pakistani Ambassador attributed the growth in Pakistani
exports to the enhanced market of cotton yarn and mineral products in China. "The trend seems to be pretty stable," he said. "Despite the encouraging growth pattern, we would not sit on our laurels. There is a long way to go as we have to achieve the US $15 billion mark and move beyond it in the near future", Masood Khan said. Pakistan and China have resolved to increase their trade to US$ 15 billion in the shortest possible time. The recent trend of growth in Pakistan-China bilateral trade has put the two countries on a fast track to achieve this target. In 2010, the biggest
spurt in Pakistani exports to China has been in cotton yarn, home textiles, garments, ores and mineral products, copper and copper scrap, leather goods, fish products, electrical goods, and medical and surgical instruments. The second meeting of Pakistan-China Free Trade Commission (FTC) was held in November 2010 to give a fresh stimulus to Pakistan-China trade and to promote Chinese investment to Pakistan. During Prime Minister Wen Jiabao's visit to Pakistan in December 2010, the two sides decided to launch in the first quarter of 2011 the second phase negotiations of Pak-
China FTAs to enhance trade liberalization and to promote economic and trade growth of the two countries. Pakistan has requested China for unilateral tariff concessions for 268 of its product lines. If these concessions materialize, Pakistani exports to China will increase even more rapidly. Pakistan exports to China, cotton yarn and fabrics, synthetic yarn and fabrics, garments, home textiles, chromium and other ores, fish and fish products, vegetable and animal products, marble, granite and stone products, medical instruments, sports goods, carpets etc.-NNI
Majid Haji elected to council of WCF TFD Reportt KARACHI: Abdul Majid Haji Muhammad, immediate past president, Karachi Chamber of Commerce and Industry (KCCI) has been elected as General Council member at World Chambers Federation (WCF). According to a press release issued here on Friday, the WCP represents 1,500 Chamber members from 125 countries and there were total 20 seats from five regions including Africa, Asia, Middle East, Europe and South and North Americas. The WCF strengthens links between Chambers, enabling them to improve performance as well as discover new products and services to offer their members. Abdul Majid Haji Mohammad's selection is a matter of pride for the people and business community of Pakistan.-NNI
Tahir Parwaz designated as Privatisation Commission spokesman ISLAMABAD: Tahir Parwaz has been designated as the official spokesman of Privatisation Commission. According to a statement issued here on Friday, Tahir Parwaz is currently serving as Director Media in P r i v a t i z a t i o n Commission.He developed a media section in Privatization Commission which was appreciated by the World Bank's Communication Audit team terming it as a strong communication engine.-APP
KARACHI: People and firefighting vehicles standing outside Hashoo Centre in Saddar after fire erupted in electronic market.-Online
Substandard exports
22 complaints against exporters in 2010 filed ISLAMABAD: Minister of State for Information Syed Samsam Ali Bukhari said on Friday that since year 2010 a total of 22 complaints were lodged by foreign buyers against Pakistani exporters, alleging supply of substandard goods. Replying to a question in the Upper House on behalf of Minister for Commerce Makhdoom Amin Fahim, he informed that during the last three years a total of 95 complaints were lodged against coun-
try's exporters for supplying substandard goods. In the year 2008, the foreign buyers lodged 29 complaints, while in the years 2009 and 2010 the number of complaints lodged is 44 and 22 respectively, he said. The minister, however said that no complaint had been received by the government regarding the import of substandard goods. He said that the government takes necessary action against the exporters of substandard
goods. To another question the minister informed the House that the Ministry of Commerce negotiated and signed the Afghan Transit Trade Agreement (ATTA) in 1965,while a revised Afghanistan Pakistan Transit Trade Agreement (APTTA) had been signed on October 28, last year. He said the volume of the transit trade under the ATTA during 2010 (JanuarySeptember) remained 842$ million.-APP
FAISALABAD: Telenor Pakistan opened its second Sales & Customer Service Center on Jail Road, Faisalabad recently. Malik Faisal Qayyum, Director Sales & Distribution, Telenor Pakistan inaugurated the new center. Also seen in the picture are (from R-L) Adnan Hassan, Director Sales & Service; Imran Fazal, Regional Director S&D Central-2; and Shahzad Khalil, Manager Sales & Customer Services Central-2.-Staff Photo
Staff Reporter
KARACHI: Chairman Pakistan National Shipping Corporation (PNSC) Brig (R) Rashid Siddiqi giving a shield to Managing Director Pak Brunei Investment Company Ayesha Aziz during a ceremony organized by PNSC.-Online
ICCI asks govt to form Economic Revival Group ISLAMABAD: The president of Islamabad Chamber of Commerce and Industry Mahfooz Elahi has asked the government to form an Economic Revival Group. According to a press release issued here on Friday, economy of the country is in the fragile state that needs to be given a push to put on right track, thus government in close collaboration with the business community and experts from the private sector must form a "Economic Revival Group" to deliberate on the key issues to find out permanent solutions of the growing problems.
Mahfooz Elahi said that economic revival plan and timely execution on vital factors, can bring Pakistan out of current economic crises, but it requires close coordination among the stakeholder organizations and strong political will to find a way forward. He said that criticism on the policies is an easy course and not a solutionof the problems. The government Think Tank, business community and Private Sector experts should be brought at one platform for a series of discussions and critical analysis of the situation to reach some collective con-
Antidumping issue facing textiles to be resolved
B’stan House shows confidence in Zardari
Staff Reporter KARACHI: A Pakistani delegation led by Muhammad Zubair Motiwala, Advisor to Chief Minister Sindh on Investment and Mohammad Younus Dagha, Secretary Investment which included prominent businessmen, Khalid Feroze, Ebrahim Qasim, Abdullah Ellahi and Maqbool Ellahi met with Burhan Kayaturk, MNA from Ankara who is also Chairman of Turk-Pakistan Inter-Parliamentary group and Cemalettin Damalci, Secretary for foreign Trade. Pakistani delegation raised the matter of AntiDumping duty proposed to be imposed on Textile Fabrics from six countries including Pakistan. The Pakistani delegation sensitized the Turkish authorities that Pakistan fabrics can not be subjected to such duties due to the reasons. Turkish authorities appreciated the point of view of the Pakistani delegation and assured them that they will not take any measure which will unduly harm Pakistan's economy.
Want MD to go TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:10 Tafteesh (Rpt) 12:00 13:10 14:10 (Rpt) 15:00 16:10 17:30 18:00 18:30 19:00 19:05 19:30 20:05 21:00 22:03 23:00 23:03 23:30
News Newsbeat (Rpt) Awam Ki Awaz News Faisla Aap Ka (Rpt) Samaa Metro News Samaa Sports News Mutasareen Taxi News Tafteesh News Faisla Aap Ka News Awam Ki Awaz 24
PIA unions reject deal with Turkish Airline KARACHI: The Joint Action Committee of PIA Employees (JACPIAE) staging protests across the country, has demanded of the Federal Govt to categorically reject the disastrous agreement signed by Managing Director PIA within 10 days and replace him with a thorough professional person who can turn around the sinking, financially crippled national asset. The union leaders speakers while staging a protest at airline's head office said that they are not against the government but they wanted to condemn the failed and irrational policies of the PIA management that are being
posed in the shape of recent agreement between PIA and Turkish Airlines. They said the MD PIA, Aijaz Haroon attempted to force employees to support this devastating agreement to share traffic and business on European and US routes with the Turkish Airlines, the same has strongly been condemned and rejected by the office bearers of different PIA employees' Associations and Unions including, PALPA, People's Unity (CBA), PIASSA, SAEP, ATAP, FENA, Air League, United & PIACE, Joint Action Committee of PIA Employees (JACPIAE). According to the Joint
Action Committee of PIA Employees (JACPIAE), the recent agreement between PIA and Turkish Airlines, in which PIA agrees to hand over its profitable routes of US, Europe and London to the Turkish Airlines, is depriving the National Airline of billions of rupees. They recalled that MD PIA presented a business plan on November 27, 2010 aiming at expansion of the PIA operations and its routes across the globe and bringing a mammoth profit to the airline. But just after a month, on December 29, 2010, he announced signing an agreement with Turkish Airlines shrinking the
clusion and practical long and short term solutions of the problems. The economy of the country cannot be revived in days or months, but with true and right approach, within a year or so, a momentum can be set to take off the economy, Elahii said. The Chamber President was of the view that government through consultation process should announce a National Economic Revival Agenda that would help boost the trust and confidence of the local and foreign businessmen and also exports of the country would get a boost. -Online
KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that present century is the century of media and democracy and no institution, nation and country can make progress without free press and strong democracy. This she said while addressing those officers of Sindh Information Department who got training under Pakistan Press Foundation here in her office on Friday. She said Sindh Government had started many mega projects for the progress of the province and it is one of the prime duties of Sindh Information Department to convey the message of the government to the masses because these days hundreds of newspapers were being published while dozens of electronic channels were on air and in these circumstances the duties of Information officers/ Public Relations Officers became manifolds. She stressed upon the officers that they should write down articles on ongoing projects and inform the people about the performance of the government. She said that present democratic government was elected through votes and it was answerable to the people.
national network by stopping PIA's operation to New York, Chicago, Amsterdam, Paris, Frankfurt, Milan and Barcelona and transferring Pakistan traffic to Turkish Airlines at Istanbul for onward carriage to their destinations. The employees said to have been amazed and shocked likewise at the uturn in the policy of PIA within a month. Instead of going for expansion, PIA is reducing its operations and losing a big share in its profit willingly. The agreement can never contribute in achieving the long-term goals for PIA but curbing its interests badly. NNI
QUETTA: The legislators of the Balochistan Assembly through a resolution on Friday posed their trust in the leadership of the President and co-chairman Pakistan People's Party (PPP) Asif Ali Zardari. Speaker Aslam Bhootani presided over the assembly sitting. Balochistan Minister for Communication and Works and the PPP parliamentary leader the
provincial assembly Mir Sadiq Umrani tabled a resolution jointly moved by Chief Minister Balochistan Nawab Aslam Raisani and ministers-Mir Sadiq Umrani, Eng Zamarak Khan, Ismail Gujjar, Jaffar Khan Madnokhel, Abdur Rehman Mengal, Sardar Aslam Bizenjo, Mir Ameen Umrani, Habibur Rehman Muhammad Hasni, Jaay Parkash, Eng.
Basant Lal, Asfandyar Kakar, Tahir Mehmood, Asghar Rind, Asim Kurd Gailo and Saleem Khosa. The resolution reads that the house poses its trust in the leadership of President and co-chairman PPP Asif Ali Zardari who had secured 481 votes from legislators of the National Assembly,the Senate and all provincial assemblies.-APP
Swiss, best airline for Europe, Americas TFD Report KARACHI: Swiss has again earned several distinctions in this year's Business Traveller Awards. The readers of the German-based business travel magazine named the carrier 'Best Airline for North and South America'.
Swiss further garnered the 'Best Business Class' distinction on the same routes. The airline also triumphed closer to home, where it was declared 'Best Airline for Europe' for the fifth consecutive year, says a press release. Swiss clearly leaves its competitors behind on its
European and North and South American routes not just in terms of its seat pitch and overall cabin comfort, but also with its service on board and on the ground, for which the carrier secured a further number-one spot in the latest Business Traveller Awards.
3 Saturday, January 29, 2011
Egyptian unrest prompts flows to safer havens
Previous Day
Yen recovers after fall on demand from Japan exporters NEW YORK: The dollar and Swiss franc rallied on Friday as events in Egypt prompted more investors to see the Middle East and North Africa destabilizing, increasing the demand for safer havens. Earlier this month, a popular revolt forced Tunisia's leader to flee the country. Though on a much smaller scale, Saudi authorities detained dozens of demonstrators on Friday in Jidda who gathered to protest poor infrastructure after deadly floods swept through Saudi Arabia's second-biggest city. "There's some concern about the events in North Africa, especially in Egypt now," said Samarjit Shankar, managing director of global foreign exchange strategy at BNY Mellon in Boston. "I believe that's the primary catalyst here."
The dollar also got a boost from a report on US gross domestic product, while the yen recovered from Thursday's sell-off, though investors were still cautious on what a downgrade of Japanese longterm debt may mean for other large developede c o n o m y debtors. The euro was last down 0.7 per cent at $1.3633 on electronic trading platform EBS, nearly a cent and a half from the two-month high of $1.3760 hit on Thursday, on speculation of a euro-zone interest rate rise. It fell 1.1 per cent against the Swiss franc. The dollar lost 0.3 per cent against the
Swiss franc, while sterling fell 0.6 per cent against the dollar. The Egyptian pound touched its weakest in at least six years versus the dollar. "If the Mubarak
government falls, the next few days could see some heavy US dollar and Swiss Franc safe-haven buying," said Joseph Trevisani, chief market analyst at FX Solutions in Saddle River, New Jersey. The yen gained as demand from Japanese exporters and speculators
Asian currencies
Baht hits 4-month low on weaker stocks Singapore dollar, Malaysian ringgit down 0.1pc SINGAPORE: The Thai baht slid to its lowest level in more than four months against the dollar on Friday, weighed down by weaker equities and renewed concerns over political stability. Both the baht, the worst performer among emerging Asian currencies this year, and the rupee are expected to fall more, analysts and dealers said. The Singapore dollar and the Malaysia ringgit also fell as investors covered dollar-short positions before a weekend and the Lunar New year holidays next week. Thai baht slid for a second day, falling back towards a four-month low on declining stocks and fresh speculation of political unrest. Dollar/baht rose to as high as 31.17, the highest since Sept. 8 last year. Traders and analysts dismissed rumours of a coup
circulating in the market. Deputy Prime Minister Suthep Thaugsuban said a coup was "just not conceivable". Baht has lost 3 per cent against the dollar so far this year, the worst performer among emerging Asian currencies after having been one of the biggest gainers in 2010. The Singapore dollar shed 0.1 per cent against the dollar after rising for five consecutive sessions as investors covered US dollar-short positions before the weekend. Some dealers mentioned market rumours of the central bank's possible intervention after the US dollar/Singapore dollar hit its all-time low of 1.2780 on Thursday. But many market players said the rumours had not been confirmed and the central bank was not seen in the market. "The 1.2780/2800 looks well
Sterling flat vs euro, slips against $ LONDON: Sterling steadied against the euro on Friday in flow driven trade, supported by institutional demand, but concerns about a fragile UK economy and a negative technical picture weighed on sentiment. The pound slipped back against a firmer dollar in thin trade as worries over rising civil unrest in Egypt fuelled worries
gave up its gains to trade close to flat with traders reporting selling by real money accounts and a US bank in choppy trade ahead of the weekend. The euro was steady against the pound in afternoon trade at 86.16 pence, with the technical picture looking positive for the euro while it traded below its major daily moving averages.
over Middle Eastern countries in general, prompting safe-haven demand for the greenback and US Treasuries. The UK GfK NOP survey of consumer confidence fell 8 points in January to -29, the biggest drop since 1992 and the lowest reading in 22 months, hit by a rise in value-added tax and looming public spending cuts. The weak survey issued on Friday, coupled with reports of month-end demand to buy euro/sterling, earlier pushed the euro as high as 86.54 pence. After failing to test a 2-1/2 month high of 86.72 pence hit on Wednesday, however, the euro
"Above 85.00/30 is ultimately a bullish setup for a move to 88.35, the trendline from 2009 peaks," said Phil Roberts, technical analyst at Barclays Capital. Against a broadly firmer dollar, sterling was down around 0.5 per cent at $1.5840, in the middle of the week's $1.5750/1.6018 range. Coming in the wake of the GDP data, Friday's weak consumer confidence survey further dampened speculation that persistently high inflation could force the Bank of England to raise interest rates, which analysts said would probably keep sterling below $1.60. -Reuters
supported," said a currency broker in Singapore. The Malaysian ringgit slid for a second day in a row against the dollar as investors cover dollar short-positions before the weekend and the Lunar New year holidays next week. A weaker yuan also put pressure on the ringgit, dealers said. The ringgit has risen 1 per cent against the dollar so far this year, outperforming currencies of countries where investors are worried about rising prices, as the Malaysia central bank is seen to have a better handle on inflation. The Taiwan dollar hovered close to breaking the T$29 per dollar to the US dollar line for the first time in 13 years. Traders said the central bank is staying its hand a little, allowing bids at T$29.00 rather than the T$29.03 limit it set the previous day. -Reuters
Swiss franc little up vs euro ZURICH: The Swiss franc was slightly firmer against the euro on Friday as investors expect Switzerland's leading growth barometer, the KOF indicator, to show the country's economy is still in good health. Switzerland has weathered the economic downturn better than most other developed countries and its currency, seen as a safe haven in times of economic uncertainty, has pulled back in recent weeks after rising strongly over the past year. Swiss National Bank chairman Philipp Hildebrand repeated at a panel discussion at the World Economic Forum on Thursday that the strong franc represented a significant challenge for exporters. The Swissie was 0.2 per cent higher versus the euro compared to the New York close, trading at 1.2954 francs per euro at 0803 GMT. The franc was little changed against the dollar at 0.9455 per dollar. Analysts in a Reuters poll expect the KOF indicator to drop to 2.05 in January from 2.10 in the previous month, which would point to a moderate slowdown in economic momentum. -Reuters
New Zealand dollar holds gains for week; Aussie lags WELLINGTON/SYDNEY: The New Zealand dollar was holding broad gains for the week on Friday as the mood on the economy seemed to lighten a little, while the Australian dollar lagged as the market scaled back expectations for interest rate rises this year. The New Zealand dollar held around the top end of the day's local range at about $0.7730, after a hitting a $0.7668 high on Thursday, to be up over a cent for the week. The Aussie sat just above a two-month low against the kiwi at NZ$1.2788 and has now given up all of its December gains which saw it as high as NZ$1.3505 at one stage. Against the US dollar, the Aussie was idling at $0.9890, little changed for the week. The kiwi received a minor knock after the Reserve Bank of New Zealand Governor Alan
Bollard said in a speech there were a range of risks facing the economy, although the economic recovery was likely to pick up the pace. "Initially some dovish-looking headlines knocked the kiwi lower, but that wasn't sustained, and we saw some good interest from the local export community to top up on hedges," said BNZ currency strategist Mike Jones. On Thursday Bollard left interest rates on hold at 3 per cent and reiterated his previous message that the central bank needs clear evidence of a sustainable recovery before rates would rise. A Reuters poll taken after the decision showed no analysts expect a rise in the March monetary policy statement, with opinion now narrowly favouring rate hikes to start in July or September. -Reuters
helped the currency to recoup some losses from a broad sell-off triggered the previous day by a cut to the country's credit rating. The dollar lost 0.9 per cent on the day to 82.18 yen on electronic trading platform EBS, pulling back from a rally to 83.22 yen on Thursday. Traders said a triggering of stop-loss orders around 82.50 yen led the dollar lower. But analysts said the Standard and Poor's downgrade to AA- highlighted Japan's fiscal problems and could still hurt the yen. In the 10 minutes between 7:50-8:00 GMT on Thursday, dollar/yen trading activity on the EBS trading platform was 5 times more active than the average onehour period for the first three weeks of the year, EBS said. -Reuters
Yuan falls after PBOC pulls back mid-point SHANGHAI/HONG KONG: The yuan pulled back slightly against the dollar on Friday in both the onshore spot and offshore forwards markets as the People's Bank of China fixed a weaker mid-point after setting a slew of record high fixings. The central bank let the midpoint hit a series of new highs in the past two weeks but rises were only marginal, a signal the government may want a more measured pace of appreciation. As the week-long Lunar New Year holiday approaches, Friday's fixing means the PBOC may keep the yuan in a narrow range, stronger than or around 6.60 per dollar, ahead of the break which starts next Wednesday, traders said. But traders retained forecasts for the yuan to rise 5 to 6 per cent this year, up from its 3.6 per cent appreciation last year and in line with expectations in a Reuters poll. "People understand the yuan has limited potential ahead of the break and traded in this line
today," said a trader at a Chinese commercial bank in Shenzhen. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards were bid at 6.4560 in late trade, up from 6.4500 at Thursday's close. Their implied yuan appreciation in a year's time fell to 2.13 per cent from 2.22 per cent. Spot yuan closed at 6.5860 against the dollar compared with 6.5820 at Thursday's close. It has now risen 3.64 per cent to the dollar since its midJune depegging. Before trading started on Friday, the PBOC fixed the yuan's daily mid-point versus the dollar at 6.5930, weaker than Thursday's record high of 6.5876. The currency can rise or fall 0.5 per cent from the PBOC's fixing in a given day. So far this year, NDFs have persistently implied 12-month yuan appreciation of only more than 2 per cent against the dollar, lagging far behind forecasts by most traders and analysts. Reuters
Indian rupee down; stocks slide weighs MUMBAI: The Indian rupee ended down but off a near twomonth low that followed a slide in domestic stocks, strong demand for the dollar by oil importing companies and lacklustre interest from foreign investors. Dealers expect the rupee to remain in a bear grip for the next few months on likely negative stocks. "With equities under pressure, slowing foreign inflows and steady demand for dollar by the oil sector, the short-term outlook for INR does not look good," said Ajay Mahajan, managing director and head of financial markets and institutional banking at UBS. "At current valuations, equities still look to have some downside left given the recent scandals, sluggish corporate earnings and high inflation." The partially convertible rupee ended at 45.7525/7625 per dollar, after falling to 45.8450, its lowest since Dec. 1 and 0.4 per cent weaker than Thursday's close of 45.57/58. "The rupee pulled back from lows after the euro rebounded. Otherwise it could
have touched 45.90 levels today," said a foreign bank dealer. The one-month forward dollar premium ended at 22.25 points, steady from Thursday's close, while the one-year premium ended at 263.75 points from previous 261 points. One-month offshore non-deliverable forward contracts were quoted at 46.08, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, and MCX-SX ended at 45.98 and United Stock Exchange at 45.9875. Total traded volume was $6.5 billion. -Reuters
Source
Events
JPY JPY JPY JPY JPY GBP EUR EUR CHF
Household Spending y/y Tokyo Core CPI y/y National Core CPI y/y Unemployment Rate Retail Sales y/y GfK Consumer Confidence M3 Money Supply y/y Private Loans y/y KOF Economic Barometer
Actual
Forecast
-3.3% -0.2% -0.4% 4.9% -2.0% -29 1.7% 1.9% 2.10
-0.6% -0.3% -0.4% 5.1% 0.6% -20 2.1% 2.3% 2.09
Previous
-0.4% -0.4% -0.5% 5.1% 1.5% -21 2.1% 2.0% 2.11
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 1.3702 1.3747 0.9419 0.9473 1.5879 1.5963 0.9956 0.9974 0.9967 0.9981 112.6500 113.8700 0.8627 0.8650 1.2902 1.2987 130.5300 132.0800 87.2600 87.6500 1319.8100 1319.7500
Bid 1.3700 0.9415 1.5875 0.9951 0.9963 112.6100 0.8623 1.2898 130.4800 87.1900 1319.1400
Low 1.3683 0.9408 1.5853 0.9937 0.9883 112.6400 0.8595 1.2899 130.5200 87.0600 1308.7100
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 28/01/2011 A USD GBP CAD EUR JPY O/N 0.23563 0.55688 0.95167 0.96125 SN 0.10313 1WK 0.25375 0.57063 0.99833 0.86375 0.10850 2WK 0.25563 0.57438 1.03667 0.85000 0.11313 1MO 0.26000 0.59875 1.08583 0.83250 0.12563 2MO 0.28313 0.65750 1.15000 0.88563 0.15125 3MO 0.30438 0.77500 1.22000 1.00500 0.18875 4MO 0.34500 0.85563 1.28833 1.07125 0.24313 5MO 0.40113 0.95938 1.34333 1.15125 0.30000 6MO 0.45381 1.07375 1.41667 1.24125 0.34625 7MO 0.50750 1.15225 1.49500 1.29125 0.39500 8MO 0.55750 1.23625 1.57083 1.35438 0.44188 9MO 0.61313 1.31750 1.63500 1.40625 0.48750 10MO 0.66594 1.39500 1.72333 1.45375 0.51438 11MO 0.72156 1.46313 1.80333 1.50375 0.54125 12MO 0.78063 1.53063 1.89167 1.55500 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 European Central Bank February 3, 2011 May 7, 2009 Swiss National Bank March 17, 2011 March 12, 2009 The Reserve Bank of Australia February 1, 2011 November 2, 2010 Federal Reserve n/a December 16, 2008
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 4.75% 0.25%
Division of National Bank of Pakistan (NBP) KARACHI, January 28,2011 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
85.90 136.48 117.69 86.25 90.88 84.96 13.32 1.04 14.79 67.02 15.79 22.91 11.03 13.04 307.14 28.11 66.39 23.61 23.39 0.08 2.77
85.70 136.16 117.42 86.05 90.67 84.76 13.29 1.04 14.76 66.86 15.75 22.85 11.00 13.01 306.42 28.05 66.24 23.55 23.33 0.08 2.76
85.51 135.85 117.14 85.83 90.43 84.54 13.25 1.03 14.72 66.69 15.71 22.79 10.97 12.98 305.62 27.97 66.06 23.49 23.27 0.08 2.76
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 28, 2011
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years 30--years
KASB 13.10 13.15 13.20 13.35 13.58 13.64 13.68 13.75 13.80 14.05 14.15 14.15 14.18 14.20 14.20 14.22 14.23 14.24 14.60 14.80 14.90
BMA 13.25 13.10 13.15 13.32 13.62 13.64 13.68 13.70 13.83 14.15 14.21 14.22 14.25 14.30 14.30 14.28 14.21 14.24 14.60 14.75 14.85
ELXIR 13.25 13.20 13.25 13.35 13.61 13.67 13.69 13.78 13.84 14.05 14.20 14.21 14.23 14.27 14.32 14.26 14.18 14.18 14.60 14.75 15.00
GSL 13.20 13.10 13.15 13.35 13.64 13.70 13.75 13.80 13.88 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.20 14.65 14.90 15.10
ICSL 12.90 13.00 13.10 13.18 13.60 13.65 13.70 13.75 13.85 14.05 14.20 14.22 14.20 14.30 14.35 14.23 14.20 14.22 14.55 14.75 15.00
JSCM AvgRate 13.15 13.14 13.10 13.11 13.15 13.17 13.35 13.32 13.63 13.61 13.65 13.66 13.70 13.70 13.75 13.76 13.85 13.84 14.00 14.05 14.18 14.20 14.20 14.21 14.22 14.22 14.30 14.28 14.35 14.30 14.25 14.26 14.18 14.19 14.20 14.21 14.70 14.62 14.90 14.81 15.00 14.98
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.39 -0.01 0.20 0.67 0.63 0.23
0.02 0.74 0.81 0.47 0.18 0.53
0.90 0.67 0.81 0.92 0.70 0.53
0.89 0.90 0.84 0.82 0.49 0.72
-0.32 0.72 0.88 0.80 0.73 0.81
0.41 0.25 0.71 0.71 0.51 0.28
USD/CAD USD/CHF -0.51 0.05 0.14 -0.48 -0.38 -0.12
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)28/01/2011 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 13.15
13.65
13.15
13.65
13.15
13.65
13.55
13.80
13.70
13.95
13.80
14.30
13.85
14.35
14.00
14.50
JSBL
13.25
13.75
13.25
13.75
13.30
13.80
13.60
13.85
13.75
14.00
13.85
14.35
14.00
14.50
14.20
14.70
ASPK 13.15
13.65
13.15
13.65
13.20
13.70
13.60
13.85
13.70
13.95
13.75
14.25
13.90
14.40
14.00
14.50
CIPK
13.00
13.50
12.90
13.40
12.90
13.40
13.60
13.85
13.70
13.95
13.80
14.30
13.90
14.40
14.10
14.60
DBPK 12.95
13.45
13.00
13.50
13.05
13.55
13.45
13.70
13.55
13.80
13.65
14.15
13.70
14.20
13.80
14.30
FBPK 13.15
13.65
13.15
13.65
13.10
13.60
13.55
13.80
13.65
13.90
13.70
14.20
13.85
14.35
13.95
14.45
FLAH 13.15
13.65
13.05
13.55
13.05
13.55
13.55
13.80
13.65
13.90
13.70
14.20
13.80
14.30
13.90
14.40
HBPK 13.05
13.55
13.05
13.55
13.10
13.60
13.55
13.80
13.65
13.90
13.75
14.25
13.85
14.35
13.95
14.45
HKBP 13.00
13.50
13.10
13.60
13.10
13.60
13.55
13.80
13.65
13.90
13.70
14.20
13.80
14.30
13.90
14.40
NIPK
13.25
13.75
13.30
13.80
13.50
14.00
13.65
13.90
13.75
14.00
13.80
14.30
13.85
14.35
13.90
14.40
HMBP 13.00
13.50
13.00
13.50
13.10
13.60
13.50
13.75
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
SAMB 13.00
13.50
13.00
13.50
13.00
13.50
13.50
13.75
13.60
13.85
13.75
14.25
13.80
14.30
13.90
14.40
MCBK 13.10
13.60
13.00
13.50
13.00
13.50
13.50
13.75
13.60
13.85
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 13.10
13.60
13.00
13.50
13.00
13.50
13.50
13.75
13.60
13.85
13.75
14.25
13.90
14.40
14.00
14.50
SCPK 13.10
13.60
13.10
13.60
13.05
13.55
13.50
13.75
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
UBPL 13.10
13.60
13.10
13.60
13.25
13.75
13.55
13.80
13.65
13.90
13.75
14.25
13.85
14.35
13.95
14.45
AVE
13.59
13.07
13.57
13.09
13.59
13.54
13.79
13.65
13.90
13.74
14.24
13.84
14.34
13.94
14.44
13.09
-0.72 -0.43 0.06 -0.60 -0.58 -0.43
4 Saturday, January 29, 2011
The Missing E-Factor
The Financial Daily International Vol 4, Issue 166
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi
Faizan Usmani
Honorary Advisory Board
E
commerce or electronic comHaseeb Khan, FCA merce is an evergreen medium. Khurram Shehzad, CFA Asim Abbas Ashary, CPA It not only has transformed the Prof. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA conventional commerce and trading, Zahid Bukhari SVP HBL (retd) but Internet has also opened hundreds Dr. A. Hadi Shahid, FCA and thousands of new businesses for Ismat Sabir Muhammad Arif millions of people belonging to the Head office any part of the world. To be very honest, the Internet has 111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 redefined everything that belongs to URL: www.thefinancialdaily.com businesses and trading pursuits. Email Address: editor@thefinancialdaily.com World Wide Web, as it happens, transLahore office mutes failing businesses into Fortune 24- Peshawar Block, Fortress Stadium, Lahore 500 companies and this virtual kingTelephone: 92-42-6675595 Fax: 92-42-6664349 maker may also turn a period of Email Address: editor@thefinancialdaily.com absolute economic decline into a massive financial boom for slow growing SME's, companies and business firms. Online world is a quite specialized, separate and unique field involving meticulous business strategies, policies and planning just like offline conventional world. Unfortunately, most of the businessmen in our country take the Internet just for granted. Disregarding the advantages and benefits this online world offers to both local and global business communities, here our local businessmen in Pakistan mistakenly consider the There are growing complaints of the online world as a mere source of fun traders that different groups are trying to and pleasure meant for the underage make the markets hostage and if the shop groups and good-for-nothing gadabout. owners refuse to pay 'bhatta' these groups Businesses are flourished at the go to the extent of putting these markets on Internet. Businesses may also die at fire. Break out of fire in the factories and the Internet if not given the due attenThis particular Internet becomes commercial plazas have become a routine tion. a place of reincarnation for many and many of the entrepreneurs have already businesses whereas, at the same time, started shifting their businesses to other Internet serves like an undertaker for towns. They also say that maintaining pri- some unfortunate trading entities. In spite of the benefits and blessings vate security guards is not helping in ensur- offered by the Internet, this unique ing security of their business, mainly and very cost-effective communicabecause of mushroom growth of security tion medium can be easily regarded as abused medium of communicacompanies and involvement of security most tion in Pakistan. Where a majority of guards in the organized crimes. visionless young souls waste their According to Siddique Memon, Chairman, time and energy in finding explicit Karachi Traders Action Committee a survey content and images, the other side consisting of businessmen also conhas been initiated of 580 markets, 227 siders the Internet as a secondary bazaars, 96 supermarkets and 84 shopping source of marketing and promotion, plazas for acquiring comprehensive insur- thus giving less importance and value World Wide Web unfortunately. ance cover, ultimately. This indicates that toSeveral countries like India, S. Muneer Hussain Rizvi
Who’ll pay the mafia tax?
that the concerned authorities have failed in providing protection against the organized criminal groups. The situation prevails throughout the city and it is difficult to say who controls the tentacles. However, the insiders say that different groups are involved in different areas and the killings going on in the city are the attempt to make the city the hostage. One can still recall the wall chalking done in recent past and the message written was 'Karachi hamara hai'. Since the same message was written in areas having concentration of different ethnic groups, it clearly indicated that some group was trying to stretch feathers to control the whole city after having gained control in certain remote and isolated pockets. Ironically, the 'watchmen fraternity' belongs to certain areas and some critics immediately jump to the conclusion that people belonging to that certain areas are committing robberies and putting shops on fire. But one should not forget that in certain areas if the grandfather was assigned the responsibility now the second or third generation is still on the guard. Some cynics try to differentiate between the old and new settlers. They say hundred of people come to Karachi every day in search of job and some of them fall prey to these gangs. Initially these people are deployed as watchmen sooner or later they become 'informer'. Somehow the other the criminals often wearing the cap of 'supervisors' succeed in collecting information which helps in organized crime that include robberies, kidnapping for ransom and in case the hostage refuses to bow down the business could be put on fire teaching the neighbors a lesson that if they do not pay they could also meet the same fate. One may wonder what the law enforcing agencies are doing. The disowning of the recent operation of Rangers in Karachi by the federal and provincial interior ministers and Sindh Chief Minister claiming their complete ignorance forces the citizens to think, who actually controls the city?
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.
Bangladesh, China, Sri Lanka, Malaysia, Indonesia, and Thailand etc. are really generating sizeable revenues by using these online resources. As far as online trading is concerned, Pakistani businessmen and traders are still far behind whereas our neigbouring country has experienced a phenomenal growth by utilizing online business channels and web portals. For example, www.worldoftrade.com is a leading business-to-business portal on the web and hundreds and thousands of leading manufacturers and corporations including a great number of small, medium and large enterprises (SME's) from all over the world are using this website to make contacts with global business communities. Apart from generating millions of revenues, www.worldoftrade.com now is supposed to be an international gateway to enter in the international market and the same online portal, originally operated from Arab territory, has also become trade mark of Islamic region itself. Pakistani exporters, manufacturers and business people can easily utilize this great portal to make contacts with rest of the business world without putting lots of efforts. When offline traditional trading is hit by severest recessions, this is the Internet which is, in fact, beyond any kind of economic recessions and online businesses get flourished here on the web despite economic slumps in conventional markets. Businessmen of Pakistan need to realize that Internet is not just the medium to energize mindless teens as, in actual fact, Internet is an alternative revenue-generating resource for real businesses. While most of Internet literate Pakistani youth know nothing than using this speedy medium for ordinary things like needlessly chatting with opposite gender even by making fake online identities, Internet offers a number of untapped business opportunities to genuine businesses as well. Make your website in a way that brings exceptional traffic, concentrate on social marketing of your products and services, and also participate in leading business portals and websites
to meet with rest of the businessmen like you living in other parts of the world. Skipping the web may just result in your total isolation brining your businesses to a level of further saturation or, better to say, your complete diminution from the corporate picture. Not only junk messages automatically sent from rated websites, your inbox may also receive genuine business inquiries from your prospective buyers and suppliers from all over the world. Most of the ignorant people seem to be concerned about receiving malicious virus via misleading emails. But in reality, the actual virus is rooted in our constipated minds prohibiting us from using the Internet, a great form of speedy communication, for the greater benefits of our businesses and trading activities. You can still express your long kept love to your sweetheart through a prolonged email written with alluring emoticons and love symbols, the even better option is to allure rest of the online business towards your own business and products. Facebook is downgraded into an online trash-box where we regularly dump our emotional garbage and also share others' trivia in the name of social networking. On the other hand, there are also many other businessmen and trade opportunists who utilise Facebook for leveraging and facilitating their entire social marketing initiatives and campaigns in a very cost effective way. Having made all essential arrangements to promote your business offline, why don't you now make an online showroom now? Here are the many business portals and websites especially created for this purpose. The most interesting fact is that you don't need to recruit a separate staff or other human resources at your online showrooms as this virtual existence only requires one man's attention, dedication as well as meticulous utilisation of online resources to make sizeable money out of the Internet. Most of the local businessmen in Pakistan consider that making a website is just enough to mark your organisational presence on the web. Business development is an ongoing
process which despite earning the entire fortune never finds a killing word like 'enough'. Making a website is definitely a praiseworthy step taken by any businessman but just think how many websites are daily launched on the web and how many of them get viewed by visitors. We can never expect receiving considerable traffic on our websites without making additional efforts as this online medium contains millions of websites wherein all of these websites and portals continuously strive hard to get top listings in search engines like Google. There must be a solution which may bring you on top in the search results. Search engine optimization (SEO) is the name of this solution which not only helps your website come at top at Google but also paves the way for your whole corporate and business growth on the web. After launching a website, just spend a few more rupees and get your site optimized by a professional SEO expert and see the difference. In fact, all big companies, mega corporations and business tycoons get their websites optimized on regular basis so that they can get the top space in search engines like Google. Whether you company belongs to SME's category or your organization looking for immediate business expansion, let's get started right away. The fact is that people now know about ecommerce or familiar with this term but their overall knowledge and expertise on this booming phenomenon of ecommerce is relatively low than traders operating their businesses in modern countries. Earlier said, Internet is supposed to be a whole new world offering loads of business and trading opportunities to businesses, and has become a distinctive profit channel generating billions of dollars for various industrial, banking, financial and services based sectors of the world. Those traders who know this medium effectively have already generated exceptional profits and earnings but what about rest of the traders and entrepreneurs in our country who are still reluctant to utilize online medium for the greater benefits on their own businesses.
India’s Got Onions Too A
t one of India's biggest wholesale markets, 65-year-old Ganpat Sakharam Jadhav sold his 2-tonne onion harvest on a recent day at 13 rupees (29 US cents) per kilogram, and he wasn't happy. A day earlier, as he uprooted the crop from his field in the heart of western India's onion belt, the price was twice as high. "I know prices will go up again once arrivals go down in the next few weeks. But by that time, these onions will rot. I will not get even a rupee," said Jadhav, separating leaves from the purple mound of bulbs in his trailer attached to a tractor. Three days later and about 200 (125 miles) to the south at a market in the Bandra district of Mumbai, 32-year-old Anita Fernandes bought onions harvested at the same time for 40 rupees per kilogram, triple what Jadhav was paid, after the produce passed along a lengthy chain of middlemen. India's volatile food prices have mostly risen for the past year and a half -- onion prices alone jumped 346 per cent over 20 days last month after heavy rain wiped out crops -driving broader inflation and adding pressure to a government that faces elections in important states this year. The surge in prices of onions and tomatoes as well
as meat, milk and edible oils underscores India's tight supply-demand balance as consumption rises on the back of nearly 9 per cent economic growth, as well as entrenched inefficiency that adds to costs and waste. As demand soars and Indians consume more and higher-quality food, output has failed to keep pace amid political resistance to reforming a farm economy based on small holdings, reliant on monsoon rains and lacking adequate cold storage, which keeps the gap between farm gate and retail cost wide. Globally, food prices hit a record high in December. In India, food inflation has been in double-digits for most of the past year, with onions -- the most widely used vegetable -- coming to symbolise the frustrations of ordinary people. "We can't avoid onions, but prices are so high that we have to reduce consumption," Fernandes said. Governments have shied away from reforming the agriculture sector as farmers make up an big voting block. At most, authorities have tinkered with a system that analysts say needs overhauling to attract private investment. FARM TO TABLE -- AND IN BETWEEN By the time Fernandes bought her onions they had changed hands four times,
adding over a quarter to the cost at each stop. Traders in Pimpalgaon, after buying onions from farmers such as Jadhav, pack them into gunny bags and sell them to a wholesaler in a place like Vashi, on the outskirts of Mumbai. The wholesaler in Vashi sells to a mid-sized vendor at Dadar in central Mumbai, who in turn sells to small vendors across the city, where people like Fernandes buy produce. At each step, perishable vegetables and fruits are unloaded and loaded into vehicles, delaying their journey and adding to wastage, which is typically up to 30 per cent. As in most farming communities in India, cold storage is unavailable in the village north of Mumbai, forcing farmers like Jadhav to offload produce at whatever price they can get. A victim of timing, Jadhav sold his produce immediately after harvesting despite the lower price as he had no other option. The price had plunged as a new crop arrived at the Pimpalgaon market. "Vegetable supplies are not smooth and that's why prices are volatile. We take the risk of buying in such a volatile environment," said Atul Shah, an onion trader in Pimpalgaon. WASTE AND WANT
India, the world's second biggest producer of fruit and vegetables, produced 226.87 million tonnes of horticultural crops in 2009/10, up 55 per cent from 2001/02, government data showed. Still, 46 per cent of Indian children under five are malnourished. Rising incomes and greater health awareness, especially among urban Indians, have boosted demand for fruit and vegetables, keeping prices firm and prompting farmers to increase acreage. But wastage due to poor post-harvest management and lack of cold storage and transport costs up to 500 billion rupees ($11 billion) annually, according to a government committee report. "There is no problem in terms of production of fruits and vegetables. The only question is how we are going to carry farmers' produce to consumer end without any wastage," said Madan Sabnavis, chief economist at CARE Ratings in Mumbai. To expand cold storage facilities, the government announced schemes including allowing offshore borrowing, but the industry response has been lacklustre. "Cold storage is not an attractive business. Margins are low. If you have front-end operations like retail chains then it makes sense," Sabnavis said. While retail chains have
such facilities, their capacity is tiny compared with total production in a country where organised operators account for just 6 per cent of overall retail sales. Meanwhile, rules limit foreign direct investment in multi-brand retail, frustrating the ambitions of global operators such as Wal-Mart Stores and Carrefour . The entry of multinational retailers has been mired in controversy, with moves to open up the sector opposed by leftist parties and small traders fearful of job losses. But the retail chains can't completely bypass traders, as small land holdings force them to rely on big traders for supplies. "We need quantity in bulk, but most farmers produce tiny amounts. There is a need of aggregator at the farm level who can ensure us steady supplies in bulk," said a senior official at a large retail chain, who declined to be identified. Namdev Patil, a 35-year-old farmer in Lasalgaon, in western Maharashtra state, failed to recover his investment as unseasonal rain in November slashed yields in his onion field by 70 per cent, an experience shared by many farmers. "Traders are buying from us at lower price and making huge profits. We can't do anything," he said.-Reuters
The South Asia Sore India has been notorious for never fulfilling the tall promises and commitments it has made, especially those made with Pakistan. This can be exemplified by the fact that the Quaid-e-Azam was forced to depart from the congress due to the back stepping of the Hindus on the 'Lucknow Pact' that resulted in his losing faith in Indian nationalism. Similarly, The
"no war pacts" that were offered by it since the inception of Pakistan has been nothing but a 'piece of paper' according to the Chief of the Naval staff, Admiral Noman Bashir and that there was no need for a no war pact with India as it cannot prevent war if situation deteriorates. These sentiments are no emotional exhibition, but stem from deep rooted histor-
ical underpinnings. This Indian trait has strengthened since partition as India has episodically displayed its degenerate intentions starting right from defying the Indus water Treaty that despite being accepted by both countries, is being grossly violated by India as dam upon dam is being constructed over the rivers that are supposed to
supply water to Pakistan. Furthermore, the Kashmir issue that was near resolution was stalled through a cleverly manipulated drama at Mumbai Taj Hotel that brought the entire process to a dead halt and both the countries back to square one after the preposterous Indian claim that Pakistan was perpetrating terror on Indian soil.
The Samjhauta blast allegations, the Indian calls for resumption of dialogue, the announcement of reduction of troops in Indian held Kashmir are all part of the series that aim to blindfold the international community and gain sympathy in order to apply and administer its deceptively hegemonic policies in south Asia. Shumaila Raja, Rawalpindi
5
Saturday, January 29, 2011
South East Asian stocks
Mostly down; Thailand performs worst on the week
European shares extend selloff on Egypt fears KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,477.00 12,462.70 -14.30 -0.11 87.91
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,829.41 3,849.50 20.09 0.52 2.59
ISE-10 Index Opening Closing Change % Change Turnover (mn)
3,077.41 3,055.77 -21.64 -0.70 0.06
Major Gainers
Symbol
Close
Change
NESTLE 3,293.75 UPFL 1,216.99 RMPL 2,320.00 NRL 326.34 FZTM 421.08
143.74 56.99 39.00 14.66 9.72
Major Losers
Symbol
Close
Change
ULEVER 4,546.28 SIEM 1,135.00 LAKST 277.01 BATA 630.82 SFL 113.99
-87.22 -17.21 -12.79 -9.14 -5.99
Top 5 Volume Leaders
Symbol LOTPTA FFBL NCL ANL ATRL
Close Vol (mn) 15.53 41.19 23.55 11.65 139.36
12.30 7.75 5.52 5.50 3.21
Active Issues Plus Minus Unchanged
196 157 20
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
MPS-wary investors look busy do nothing Nawaz Ali KARACHI: Some lackluster activities were observed at Karachi Stock Exchange on the last day of the week. Despite good corporate results investors remained on the sidelines ahead of the monetary policy announcement and trading volumes declined to one month low. The benchmark KSE-100 index fell by 14 points to close at 12,462 points, KSE 30index lost 22 points to close at 12,152 points and KSE allshare index was down by 7 points to close at 8,639 points.
"Investors await SBP monetary policy announcements due Saturday", said Ahsan Mehanti, Director Arif Habib Investments. After a positive opening market showed witnessed some dull activities throughout the day moving between 12,529 points (+ve 52) and 12,451 points (-ve 25) with low investor participation which remained on the sidelines ahead of the monetary policy. The State Bank of Pakistan is set to announce monetary policy for the next two months where most of the analysts
POL & APL also announce interim dividend
POL, APL, NRL, ATRL earnings make headlines Ghulam Raza Rajani KARACHI: Pakistan Oilfields limited (POL), Attock petroleum Limited (APL), National Refinery Limited (NRL) and Attock Refinery Limited (ATRL), the subsidiaries of the Attock Oil Company Limited announced on Friday their results for the first half of financial year 2010-11, ended December 31, 2010. POL- profit after tax surged by 56.7 per cent to Rs5.20 billion against Rs3.32 billion corresponding period of last year which translates into earning per share as Rs21.99 against Rs14.03 during the same period last year due to surge in oil and gas production. POL also announced interim dividend of Rs10 per share. Net sales of the company increase by 52.5 per cent to Rs11.57 billion in 1HFY11 from Rs7.59 billion in the same period last year, whereas the Gross profit increased by 56.1 per cent to Rs7.11 billion comparing to Rs4.55 billion during the same period last year.
Exploration cost declined by 48.2 per cent to Rs300.2 million in 1HFY11 as compared to Rs579 million for 1HFY10. Administrative expenses hiked by 28.1 per cent to Rs41.18 million as compared to Rs 32.14 million for corresponding period last year. APL - registered surge in profit after tax by 17.06 per cent taking net profit to Rs1.74 billion as compared to Rs1.48 billion over the corresponding period of last year which translates into earning per share of Rs25.22 as against Rs21.55 for the same period last year. The Company also announced Rs11.5 per share interim dividend. Net sales for the period surged by 8.1 per cent to Rs40.32 billion from Rs37.30 billion mainly due to increase in sales volume and prices, whereas cost of sales also climbed by 8.04 per cent to Rs38.62 billion in 1HFY11. Still, gross profit increased by 9.45 per cent to Rs1.71 billion against Rs1.56 billion posted See # 13 Page 11
Shanghai up on small-cap gains
HK shares down for second week HONG KONG/SHANGHAI: Hong Kong shares fell on Friday, extending their recent losses after a strong start to the year, as news of property taxes in China hit developers and as oil and gas producer CNOOC pulled down energy counters. The benchmark Hang Seng Index fell 0.7 per cent to 23,617 points, taking its losses to 1.1 per cent on the week, as short-selling activity steadily picked up in a sign that investors were betting on nearterm weakness to persist. The Hang Seng is still up 2.7 per cent so far this year, but an encouraging early start fizzled as mainland markets remained weak and as emerging market funds in general saw outflows in favour of developed markets
where stocks were seen as more undervalued. The Shanghai Composite edged up 0.1 per cent for a gain of 1.4 per cent on the week, but is still down 2 percent so far this year, making it North Asia's worst performer. Mounting inflation concerns and fears China's central bank may hike interest rates before the long Lunar New Year holiday next week have spurred outflows of as much as US$3 billion from emerging markets, according to analysts at Citigroup. Offshore oil and gas producer CNOOC in particular weighed heavily on the Hang Seng on Friday as investors took the firm's conservative See # 14 Page 11
ANNOUNCEMENTS Company Tariq Glass Ind. Pak Oilfields Khairpur Sugar Noon Sugar Mills Baba Farid Attock Petroleum Ltd Pakistan Cables Shakarganj Mills Shakarganj Mills Honda Atlas Cars Century Paper Sanghar SugarXD Shahmurad SugarXD Attock Cement National Refinery Attock Refinery
Period Div/Bon/Right 200%(R) Half Yearly 100%(i)(D) 1st Qtr 1st Qtr 1st Qtr Half Yearly 115%(i)(D) Half Yearly 1st Qtr 1st Qtr 1st Qtr Half Yearly 1st Qtr 1st Qtr Half Yearly Half Yearly Half Yearly -
PAT (Rs in mn) 5,201.01 29.27 38.54 -44.61 1,743.31 23.59 39.34 -204.75 -275.92 -26.70 16.24 15.31 235.10 3,135.95 1,502.16
EPS(Rs) 21.99 1.83 2.33 -4.72 25.22 1.03 3.51 -2.95 -1.93 -3.16 1.36 0.73 2.72 39.22 17.61
expect a 50bps increase in the interest rates. It is worth mentioning that last time in November central bank had raised the discount rate by 50 bps. Samar Iqbal, equity dealer at Topline Securities said that market is expecting a 50bps rise in discount rate. Any surprise on monetary policy front could affect the market sentiments accordingly. As the results season is on its way, some major companies announced their corporate results during the day which includes Pakistan oilfields, Attock Petroleum, Attock
Nikkei falls after S&P cut Japan's sovereign debt rating TOKYO: The Nikkei average fell one per cent after a cut to Japan's sovereign debt rating, with some analysts saying the downgrade may become a turning point for foreigners who have led a rally in the benchmark since November. Selling of Nikkei 225 futures also contributed to weakness in the cash market, where financial stocks led declines on concerns they might be exposed to higher procurement costs. Standard & Poor's cut Japan's long-term debt rating by one notch to AA minus on concerns that the government lacked a coherent plan to tackle mounting debt. "The rating reflects the country's current fiscal position. Therefore, funds that have been overweight on Japan since last November may reconsider their position," said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. The benchmark Nikkei ended the day down 1.1 per cent at 10,360.34 but rose 0.8 per cent on the week. The broader Topix fell 1.1 per cent to 919.69. Volume picked up from the previous day, with 2.1 billion shares changing hands on the Tokyo Stock Exchange's main board, in line with last week's average. Declining shares outpaced advancing ones by 1,318 to 263. BANK BLUES Banks underperformed, with Mitsubishi UFJ Financial Group falling 2.7 per cent to 434 yen, Mizuho Financial Group dropping 1.2 per cent to 162 yen and Sumitomo Mitsui Financial Group shedding 1.6 per cent to 2,870 yen. "It looks like investors are offloading their positions on banks because they were reminded of the dire state of Japan's public finances, but I don't think this is going to last very long," said Hiroaki Kuramochi, chief equity marketing officer at Tokai Tokyo Securities. "Securities stocks as well as real estate shares, those stocks that have recently outperformed are also being sold as investors used the downgrade as an excuse to lock in profits." As against this Komatsu Ltd jumped 2.3 per cent to 2,502 yen after the construction machinery maker said its ninemonth net profit surged more than five times from a year earlier on strong sales in China and other emerging markets. Market players said that overall the results season was going reasonably well. "Tokyo earnings season has entered a serious phase, and with some 100 companies having reported, it looks like most firms may even beat bullish estimates made by analysts before earnings," said Hideyuki Ishiguro, a supervisor in Okasan Securities' investment strategy section. Reuters
Refinery and National Refinery. According to analyst results of POL and APL were better then expectations but it failed to create a rally due to profit taking by the investors. Pakistan Oilfields announced profit after tax of Rs5.2 billion with an earning per share of Rs21.99 while it also announced a final cash dividend of 100 per cent to the shareholders. Attock Petroleum announced net profit of Rs1.74 billion translating into an EPS of Rs25.22 with a final dividend of 115 per cent announcement. Foreign investors however
remained active as per NCCPL data they did a net buying of $1.13 million on Friday. Volumes got further squeezed as 87.9 million shares were traded during the day which was 24.4 million shares less as compared to a turnover of 112.3 million shares a day earlier. Though, market closed on a negative note, share prices of the most of the stocks closed upwards as out of total 373 active issues; 196 advanced and 157 declined while prices of 20 scrips remained unchanged.
Egypt worries curb trade
Mining stocks drag FTSE low LONDON: Britain's leading share index fell on Friday, weighed down by heavyweight miners as a recent rally by the sector went into reverse, and investors worried by dramatic political protests in Egypt decided to close positions. At the close, the FTSE-100 index was 83.71 points lower, or down 1.4 per cent at 5,881.37, recording a loss of 0.3 per cent for the week. Events in Egypt, where police and demonstrators fought running street battles in Cairo in unprecedented protests against President Hosni Mubarak's rule, made investors cautious. "It is the continued unrest in Egypt that has made investors increasingly risk adverse ... it seems investors are deciding that taking their money off the table is the sensible approach ahead of the weekend," said David Jones, chief market strategist at IG Index. A fall among mining stocks
was the biggest drag on the blue chip index, with Vedanta Resources the worst off, down 4.5 per cent. Investors cited next week's Chinese New Year holidays as a reason for closing positions, on the grounds that demand would briefly slow. Integrated oils fell, dragged by BG Group as the sector heavyweight reversed recent strong gains linked to Brazil oil find hopes, and countering a jump in the crude price linked to rumours of the possible closure of Egypt's Suez Canal. Investors shrugged aside data showing that the US economic expansion gathered speed in the fourth quarter, with GDP up 3.2 per cent as consumer spending gained pace. In Britain, following on from a surprise drop in UK GDP this week, data on Friday showed UK consumer confidence tumbled to its lowest in almost two years in January. The data put UK retailers put back under pressure.Reuters
US stocks late-morning
Ford, Egyptian unrest knock Wall St off 29-mth high NEW YORK: U.S. stocks fell from 29-month highs on Friday as Amazon and Ford reported weak results and investors worried about escalating protests in Egypt against the government. Nasdaq quotations for its main stock indexes resumed after nearly a one-hour outage. Nasdaq OMX Group has not yet said what caused the problem. Shares in energy companies fell despite a 2.9 per cent rise in U.S. crude futures. Uncertainty over the impact of the Egyptian riots on the Middle East and anemic growth in Chevron's reserves weighed on oil stocks. Chevron dropped 1.1 per cent to $93.72 and the S&P energy sector fell 0.7 per cent. "The market response to earnings in Microsoft, Amazon and Ford is disappointing," said Peter Boockvar, equity strategist at Miller Tabak & Co in New York. "Then you throw in Egyptian riots possibly spreading ... we're going into a weekend where anything is possible in Egypt," he said. Dozens of people were wounded as police and demonstrators fought running street battles in Cairo in unprecedented protests against President Hosni Mubarak's three-decade rule. The Dow Jones industrial average dropped 120.30 points, or one per cent, to 11,869.53. The Standard & Poor's 500 fell 15.91 points, or 1.22 per cent, to 1,283.63. The Nasdaq Composite lost 58.44 points, or 2.12 per cent, to 2,696.84. Equities got some support from data showing the US economy grew at a 3.2 per cent rate in the fourth quarter as consumer spending accelerated. Excluding inventories sales grew about 7.1 per cent, the best since 1984. Dow component Microsoft Corp fell 3.2 per cent to $27.95 a day after it posted a dip in profit. Online retailer Amazon.com Inc recorded revenue below the consensus view, sending its stock 7.7 per cent lower to $170.24. Reuters
KCCI to join hands with KSE TDF Report KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has welcomed Karachi Stock Exchange's initiative to set up a joint platform with the Chamber and chalk out an action plan to motivate the business community for stabilizing the country's economy. This initiative has come up at a time economy is facing many problems. In a meeting with Acting Managing Director of Karachi Stock Exchange (KSE),
Haroon Askari and other Directors of the Board, President KCCI Muhammad Saeed Shafiq suggested for signing a formal MoU for this joint promotion and assured full support on behalf of the Chamber. Junaid Esmail Makda, Vice President, KCCI welcomed the affiliation and the culture of stocks to be promoted at wider scale among the business community. Junaid also appreciated KSE for planning to have discussions and seminars using KCCI platform encouraging par-
ticipation of the businessmen. Askari briefed the delegation about the benefits and advantages of listing. The credibility of a firm is enhanced through listing and it acquires wider exposure of its brand and operations, he added. He elaborated that even small enterprises with minimum paid up capital of Rs10 million are eligible for listing through OTC Market. The meeting was also attended by KCCI Managing Committee members and other representatives of KSE.
Indian shares at near 5-month closing lows MUMBAI: Indian shares declined for the third week in four, shedding 1.5 per cent on Friday to their lowest close in nearly five months, hit by continuing foreign fund outflows, while the near-term outlook was uncertain. Soaring inflation and rate rises are starting to hit corporate margins in India, tempting more foreign fund managers to slash holdings in favour of markets that can better capitalise on the global economic recovery. The 30-share BSE index dropped 3.2 per cent this week and is down 10.3 per cent so far
this month, with foreign funds pulling out about $755 million since Tuesday as an improving US economy drew investors away from emerging markets such as India. The index is on track to record its worst monthly decline since October 2008. The main index fell for the third day on Friday and closed 1.54 per cent, or 288.46 points, lower at 18,395.97 points, its lowest close since Sept. 3, 2010. Only eight of its components closed in the green. The market breadth was negative with almost five shares declining for every share that advanced on the BSE, on an average volume of
365 million shares. The 50-share NSE Nifty shed 1.6 per cent to 5,512.15 points. Its relative strength index was at just above 30, indicating close to an oversold position. "Technically, the market looks oversold and a dead cat bounce is not ruled out right now," said Arun Kejriwal, director of research firm KRIS. "That said, we have been trading below the 200-day moving average since yesterday. If it remains below this level over the next couple of sessions and we fail to recover, a sharp selloff could again happen." Reuters
6
Saturday, January 29, 2011
Market Volume
87,909,342
Value
4,333,583,992
Trades
56,064
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
196 157 20 373
All Share Index
12,462.70 12,529.10 12,451.81 i14.30
Current High Low Change
KSE 30 Index
8,639.53 8,684.41 8,632.84 i7.34
Current High Low Change
KMI 30 Index Current High Low Change
12,152.21 12,215.64 12,127.32 i22.26
20,223.29 20,334.38 20,181.93 i52.59
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,600.00 Turnover 7,648,794 P/E (x) 11.56 Company
KSE 100 Index
Symbols
High Low 1,612.53 1,583.45 Total cos Defaulter cos P/BV (x) ROE (%) 3.76 32.54
PE
Open
High
Low
Attock Petroleum 691 7.07 Attock Refinery 853 5.68 BYCO Petroleum 3921 Mari Gas Company 735 17.71 National Refinery 800 6.77 Oil & Gas Development 43009 11.71 Pak Petroleum 11950 7.71 Pak Oilfields 2365 7.58 Pak Refinery Limited 350 P.S.O 1715 5.15 Shell Gas LPG 226 Shell Pakistan 685 10.78
389.91 134.11 10.57 132.00 311.68 174.64 213.55 328.98 110.27 300.77 32.78 209.51
401.00 140.40 10.90 133.89 327.00 174.90 214.00 333.00 115.00 305.66 33.69 211.48
389.02 134.01 10.57 130.50 310.00 172.50 210.00 327.25 110.10 300.50 32.05 209.15
Close Chg 391.12 139.36 10.77 130.72 326.34 173.06 210.78 328.91 113.18 304.44 32.15 210.17
1.21 5.25 0.20 -1.28 14.66 -1.58 -2.77 -0.07 2.91 3.67 -0.63 0.66
Close Change 1,594.40 -5.60 Listed cap Market cap 65,194.15 mn 1,224,147.01 mn Payout (%) Div Yield (%) 55.94 4.84 Last 60 days High Low
Volume 504938 3208546 856679 68411 408578 402577 585828 1680062 73603 700716 545 14990
401.00 146.90 12.49 141.65 333.89 185.00 229.80 341.50 122.22 317.79 39.89 222.00
292.01 99.60 10.49 117.00 218.00 152.20 184.00 239.00 74.51 262.70 32.00 182.05
% Change -0.35 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 (%) (%)
20B115.00 - 15.00 20B 50.00 -100.00 -
-
CHEMICALS
Open 732.43 Turnover 8,574 P/E (x) 5.70 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
High Low 740.24 726.47 Total cos Defaulter cos P/BV (x) ROE (%) 1.46 25.53
Close 731.85 Listed cap 3,242.17 mn Payout (%) 11.08
Change -0.58 Market cap 12,880.29 mn Div Yield (%) 1.94
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.05 40.59
70.52 37.44
71.55 37.34
70.01 36.99
70.50 -0.02 37.34 -0.10
5244 3330
76.65 39.45
68.00 32.36
Company
Paid up Cap(mn)
Agritech Limited
3924
PE
Open
High
Low
Close Chg
9.33
25.43
20.26
-
95.05
958
103.94
75.00
15
-
-
-
7.05 187.76
188.90 183.10 184.36 -3.40
8987
209.98
149.72
-
-
-
-
1203
8.49 205.31
206.75 203.00 204.75 -0.56
79806
215.00
165.73
40
-
-
-
2.79
2.85
2.73
2.77 -0.02
26.73
13155
3.74
2.11
-
2011 Div BR (%) (%)
250 12.79
-
2802
2010 Div BR (%) (%)
273 1996
25.75 0.32 93.12 -1.93
Last 60 days High Low
Volume
% Change -0.15 5-Day High 1,608.20 5-Day Low 1,586.41
BOC (Pak)
Descon Chemical
24.30 93.00
Change -2.33 Market cap 352,170.20 mn Div Yield (%) 5.01
Clariant Pak Dawood Hercules
25.90 98.99
Close 1,592.25 Listed cap 52,251.88 mn Payout (%) 48.81
-
-
-
-
-
1020
-
7.90
8.05
7.71
7.74 -0.16
142999
9.25
5.40
-
-
-
-
3663
-
2.85
3.09
2.82
2.91 0.06
1500660
4.24
1.47
-
-
-
-
94
-
11.22
11.00
10.52
10.99 -0.23
13.79
9.15
15
-
-
-
1122725 222.80
174.70
40
-
-
-
Dynea Pak Engro Corporation Ltd Engro Polymer Fatima Fertilizer
3277 11.65 211.98
214.99 211.65 212.07 0.09
550
6635
-
13.41
13.48
13.00
13.13 -0.28
1536461
15.87
13.00
-
-
-
-
22000
-
11.87
11.95
11.71
11.82 -0.05
301185
12.64
9.16
-
-
-
-
Fauji Fertilizer
6785
9.40 153.66
106.01
130
25B
-
-
Fauji Fert. Bin Qasim
9341
7.77
40.70
41.43
40.85
41.19 0.49
7745831
43.99
30.31
52.5
-
-
-
725
8.71
11.43
11.79
11.35
11.50 0.07
23702
13.07
11.00
-
-
-
-
150.99 149.35 149.69 -0.25
123.50
55
-
-
-
Ghani Gases Ltd ICI Pakistan
1388
Leiner Gelatine Lotte Pakistan Nimir Ind Chemical Sitara Peroxide
8.43 149.94
154.39 151.50 152.77 -0.89
2534792 157.90
99005
158.49
75
-
10.99
11.99
9.99
11.99 1.00
1504
24.00
9.99
-
-
-
-
15142
5.71
15.41
15.74
15.32
15.53 0.12
12302472 16.49
10.08
5
-
-
-
1106
-
1.71
1.79
1.70
1.73 0.02
148874
2.74
1.36
-
-
-
-
551 14.46
13.33
13.39
13.20
13.30 -0.03
60606
14.69
12.08
-
-
-
-
United Distributors
92
-
14.05
14.40
13.10
14.40 0.35
230
14.40
8.51
-
-
-
-
Wah-Noble
90
7.44
37.50
38.70
37.01
38.70 1.20
1501
41.99
32.00
50
-
-
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,131.01 Turnover 190,634 P/E (x) 5.55 Company
High Low 1,131.44 1,073.37 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 7.47
Close 1,080.42 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.27 6.97
17.32 43.96 40.90
17.21 44.99 41.00
16.32 43.00 38.86
16.49 -0.83 43.01 -0.95 39.04 -1.86
165845 303 24486
Century Paper Pak Paper Product Security Paper
Change -50.59 Market cap 2,994.87 mn Div Yield (%) 4.55
Last 60 days High Low 19.69 48.90 47.70
15.28 39.00 38.00
% Change -4.47 5-Day High 1,201.27 5-Day Low 1,080.42
2010 Div BR (%) (%) 2533.33B 50 -
2011 Div BR (%) (%) -
Paid up Cap(mn)
PE
High Low 1,312.50 1,280.90 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 25.35
Open
High
Low
Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
144 5.62 77.18 101 5.97 200.29 247 33.90 36.17 626 9.22 134.49 890 2.06 56 4.70 194.80 598 20.47 24.02 450 3.33 4.80 1428 - 11.56 786 6.70 294.97 823 10.64 65.90 150 4.29 22.95
77.98 202.00 37.97 138.50 2.19 204.25 24.48 4.88 12.30 294.00 67.65 23.17
73.33 199.80 37.97 130.51 2.02 195.00 23.51 4.71 11.50 292.50 65.50 21.85
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Metro Steel
PE
Open
High
Low
565 3.20 675 555 9.16 1199 18.60 310 -
29.17 2.62 14.70 51.18 13.98
30.62 2.78 15.70 52.95 14.98
29.00 2.55 14.65 51.00 14.40
Close Chg 30.59 2.60 14.65 51.15 14.43
1.42 -0.02 -0.05 -0.03 0.45
Close 1,048.95 Listed cap 3,596.11 mn Payout (%) 30.91
Change 18.91 Market cap 10,048.53 mn Div Yield (%) 8.78
Open 1,832.13 Turnover 339,400 P/E (x) 44.95 Company AL-Noor Sugar XD Bawany Sugar Chashma Sugar XD Clover Pakistan Crescent Sugar Dewan Sugar Fecto Sugar Habib SugarXDXB Habib-ADM Ltd Ismail Ind J D W SugarXDXB Kohinoor Sugar Mirpurkhas Sugar Mirza Sugar XD National Foods Noon Sugar Premier Sugar XD Quice Food S S Oil Sanghar Sugar XD Shahmurad Sugar XD Shakarganj Mills UniLever Pakistan
Paid up Cap(mn) 186 87 287 94 214 365 146 750 200 505 539 109 84 141 414 165 38 107 57 119 211 695 665
Close Chg
Last 60 days High Low
Volume 841944 28901 115 22974 151
30.62 3.29 16.51 62.20 14.98
24.00 2.50 13.30 44.00 5.61
2010 Div BR (%) (%) 30 55 -
2011 Div BR (%) (%)
- 10.00 20B -
PE
Company
Paid up Cap(mn)
PE
Open
High
Low
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints
1828 866 858 182
6.97 -
3.03 57.93 2.69 21.26
3.20 58.39 2.87 22.25
3.00 55.04 2.36 20.60
Dadabhoy Cement Dandot Cement Dewan Cement
982 13.08 948 3891 -
1.66 1.85 2.05
1.80 2.20 2.25
1.67 1.66 2.02
DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics
3651 123.88 6933 14.85 502 3.65 1760 77 -
29.67 4.84 7.11 1.76 1.66
29.93 5.00 7.03 1.84 1.95
29.63 4.85 7.00 1.70 1.52
Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement
2319 32 1288 13126 3234 5261 2228
6.63 1.27 -
7.09 0.61 6.34 3.32 74.25 2.69 6.72
6.50 0.69 6.95 3.37 74.48 2.73 6.84
6.12 0.59 6.11 3.30 73.40 2.67 6.70
Close 970.47 Listed cap 54,792.74 mn Payout (%) 19.04
Change -2.54 Market cap 68,237.99 mn Div Yield (%) 2.89
Close Chg
Volume
Last 60 days High Low
3.09 55.04 2.70 21.03
0.06 -2.89 0.01 -0.23
12906 95898 216 1758
3.98 65.99 4.24 24.16
2.80 55.04 1.10 15.00
1.70 0.04 1.66 -0.19 2.15 0.10
103 102 88865
2.49 3.49 3.10
1.50 1.50 1.43
-
819363 165098 8096 151083 247
32.30 5.55 8.20 2.25 4.00
26.60 4.72 5.80 1.60 1.18
-
29.73 4.90 7.00 1.71 1.73 6.50 0.60 6.35 3.31 73.76 2.72 6.70
0.06 0.06 -0.11 -0.05 0.07 -0.59 -0.01 0.01 -0.01 -0.49 0.03 -0.02
502 9536 22654 327257 174780 110839 11565
9.19 0.99 8.70 3.88 79.98 3.30 8.20
2.70 0.25 5.92 2.84 70.75 2.65 6.52
2010 Div BR (%) (%) - 100R 50 - 122R
2011 Div BR (%) (%) -
-
-
-
-
20R -
-
-
40 -
-
-
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,060.56 Turnover 509,056 P/E (x) 2.90 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films
Paid up Cap(mn)
PE
Open
115 2.57 72.09 230 2.57 1067 4.94 52.25 389 3.05 47 78.95 30.08 844 70.48 139.24 300 9.82 133.16
High
High Low 1,080.72 1,036.02 Total cos Defaulter cos P/BV (x) ROE (%) 1.27 43.91 Low
Close Chg
73.75 72.00 72.04 2.80 2.40 2.66 54.86 52.10 53.75 3.00 2.61 3.00 31.58 30.21 31.58 143.00 136.17 137.43 137.00 132.50 134.57
-0.05 0.09 1.50 -0.05 1.50 -1.81 1.41
Close 1,057.41 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 15741 147379 33893 201 181470 129135 1210
Change -3.15 Market cap 39,641.46 mn Div Yield (%) 5.36
Last 60 days High Low 83.23 3.30 56.45 4.05 31.58 143.00 141.90
46.02 1.82 45.30 2.40 16.90 101.00 101.00
% Change -0.30 5-Day High 1,060.56 5-Day Low 1,040.98
2010 Div BR (%) (%) 20 25 -
25B 10B -
2011 Div BR (%) (%) -
-
Company
Close 1,292.93 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Company AL-Ghazi Tractor
Paid up Cap(mn) 215
PE
Bolan Casting 104 Dewan Auto Engineering 214 Ghandhara Ind 213 10.66 KSB Pumps Millat Tractors XB
132 366
Open
5.63 234.99 43.81 1.39 11.93
7.40 60.00 8.39 542.97
High
Low
Close Chg
237.00 235.01 235.07
Change -5.45 Market cap 47,530.15 mn Div Yield (%) 4.26
Last 60 days High Low
43.76 1.40 12.10
43.75 1.26 11.26
Change 8.09 Market cap 34,269.72 mn Div Yield (%) 15.27
Low
65.75 152.70 15.00 96.00 1.20 145.00 21.00 4.42 10.90 230.00 65.50 17.92
Close Chg
Close 1,840.66 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
90 100 60 20 150 10
20B 20B
Change 8.53 Market cap 269,868.41 mn Div Yield (%) 0.68
Last 60 days High Low
700 54.00 42.00 501 6.73 1.21 1119 15.47 9.00 171 78.40 46.15 209730 7.15 5.00 5720 5.59 1.50 1857 55.00 28.00 22033 36.50 22.00 15046 13.00 11.50 202 81.12 68.60 2937 92.50 68.00 286 6.14 2.50 145 68.22 47.50 421 7.18 4.10 761 75.50 41.12 50233 14.84 9.00 1503 53.81 34.29 3500 3.50 2.02 1000 3.89 2.80 217 15.01 11.35 16122 13.50 9.00 4605 7.88 4.06 234 4818.00 3900.00
Diamond Ind Hussain Industries Pak Elektron Tariq Glass Ind
High Low 1,113.05 1,081.55 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 10.64
Open
High
Low
90 106 1219 231
3.59 2.54
10.00 6.13 14.15 21.12
11.00 6.75 14.55 21.60
11.00 5.58 13.99 21.10
-
-
2010 Div BR (%) (%)
% Change 0.47 5-Day High 1,840.66 5-Day Low 1,793.03 2011 Div BR (%) (%)
50 10 15 25 25B 40 17.5 110R 7010B 12.5R 15 20B 10 12 10 15 10 178 -
-
-
Close Chg 11.00 6.32 14.26 21.27
1.00 0.19 0.11 0.15
Close 1,096.73 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 299 1908 341201 49276
Change 8.85 Market cap 5,187.79 mn Div Yield (%) 2.29
Last 60 days High Low
2010 Div BR (%) (%)
2011 Div BR (%) (%)
244.95
201.80
150
-
-
-
43.75 -0.06 1.30 -0.09 11.51 -0.42
480 1134 2502
47.85 2.40 13.50
42.90 0.21 10.55
25 -
10B -
-
-
4161 37990
73.84 568.40
58.55 472.00
650
25B325.00
-
Total Equity (Rs in mn)
4.74
Revenue (Rs in mn)
MA (200-day)
3.95
Interest Expense
60.73
1st Support
7.57
Profit after Taxation
77.95
779.86 106.55 1,475.99
6.55
EPS 10 (Rs)
7.857
1st Resistance
9.57
Book value / share (Rs)
10.74
2nd Resistance
10.55
Pivot
8.55
PE 11 E (x)
0.73
PBV (x)
0.80
IDSM closed up 0.09 at 8.62. Volume was 184 per cent above average (trending) and Bollinger Bands were 68 per cent wider than normal. The company's profit after taxation stood at Rs29.202 million which translates into an Earning Per Share of Rs2.94 for the 1st quarter of current fiscal year (1QFY11). IDSM is currently 143.1 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into IDSM (bullish). Trend forecasting oscillators are currently bullish on IDSM.
Pakistan International Airline Corp Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
44.31
Total Assets (Rs in mn)
160,013.18
MA (10-day)
2.43
Total Equity (Rs in mn)
(20,772.84)
MA (100-day)
2.27
Revenue (Rs in mn)
MA (200-day)
2.47
Interest Expense
1st Support
2.25
Loss after Taxation
2nd Support
2.15
EPS 09 (Rs)
1st Resistance
2.45
Book value / share (Rs)
2nd Resistance
2.55
PE 10 E (x)
Pivot
2.35
PBV (x)
94,563.77 9,243.77 (5,822.43) (2.720) (8.92) (0.26)
PIAA closed down -0.03 at 2.33. Volume was 272 per cent above average (trending) and Bollinger Bands were 2 per cent narrower than normal. The company's loss after taxation stood at Rs11.693 billion which translates into a Loss Per Share of Rs4.79 for the nine months of current calendar year (9MCY10). PIAA is currently 5.6 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of PIAA at a relatively equal pace. Trend forecasting oscillators are currently bearish on PIAA.
Flying Cement Limited
Last 60 days High Low
2010 Div BR (%) (%)
15.84 11.49 15.88 22.50
17.5
7.55 5.20 12.90 15.90
10B -
% Change 0.81 5-Day High 1,098.77 5-Day Low 1,087.88 2011 Div BR (%) (%) -
-
PERSONAL GOODS Performance of SR Personal Goods Index Open 1,006.23 Turnover 14,609,752 P/E (x) 6.18 Company
Paid up Cap(mn)
(Colony) Thal 56 Amtex Limited 2594 Artistic Denim 840 Azam Textile 133 Azgard Nine 4493 Babri Cotton 33 Bannu Woolen XD 76 Bata (Pak) 76 Brothers Textile 98 Chakwal Spinning 400 Chenab Limited 1150 Crescent Textile 492 D S Ind Ltd 600 Dawood Lawrencepur 514 Dewan Farooque Spinning600 Dewan Mushtaq Textile 34 Din Textile 204 Ellcot Spinning 110 Gadoon Textile XD 234 Globe (O.E) 47 Gulshan Spinning 222 H M Ismail 120 Hajra Textile 138 Hira Textile Mills Ltd. 716 Ibrahim Fibres 3105 Ideal Spinning 99 Ishaq Textile 97 Janana D Mal 43 Kohinoor Ind 303 Kohinoor Spinning 1300 Kohinoor Textile 1455 Maqbool Textile 168 Mian Textile 221 Mukhtar Textile 145 Nishat (Chunian) 1614 Nishat Mills 3516 Pak Synthetic 560 Prosperity 185 Ravi Textile 250 Reliance Weaving 308 Rupali Poly 341 Saif Textile 264 Sally Textile 88 Samin Textile 267 Sargoda Spinning 312 Service Ind 120 Shadman Cot 176 Shahpur Textile 140 Shahtaj Textile 97 Taj Textile 334 Thal Limited 307 Treet Corp 418 Yousuf Weaving 400 Zil Limited 53
PE
Open
1.20 9.43 4.04 6.32 22.85 0.36 2.61 - 11.95 0.48 11.40 0.50 13.74 5.23 639.96 0.59 0.55 1.18 3.07 3.48 17.11 1.68 46.28 40.98 3.54 4.34 0.18 6.86 0.56 27.45 0.64 21.39 0.78 71.45 5.71 12.75 0.82 7.35 0.85 0.50 0.73 3.87 4.02 51.82 0.73 8.53 1.48 7.25 0.24 15.40 1.43 0.37 0.98 3.75 5.05 2.50 9.25 0.49 0.33 1.96 23.01 5.76 66.00 4.22 11.50 1.06 13.65 1.37 0.63 9.03 4.77 37.00 0.43 4.90 0.21 3.96 5.33 6.35 0.68 3.25 7.88 229.17 2.62 13.68 0.38 0.40 - 19.50 0.13 5.37 128.24 9.31 59.15 0.56 1.61 3.61 51.55
% Change 0.51 5-Day High 1,585.78 5-Day Low 1,560.62
5171
1.83 1.90
82.63 204.40 37.97 143.80 2.89 217.44 26.74 5.67 13.40 309.73 77.90 23.40
2011 Div BR (%) (%)
High
High Low 1,014.59 995.56 Total cos Defaulter cos P/BV (x) ROE (%) 0.53 8.64 Low
Close Chg
1.37 1.33 1.37 0.17 4.32 4.05 4.15 0.11 23.98 22.26 22.75 -0.10 2.64 2.58 2.61 0.00 12.12 11.59 11.65 -0.30 11.90 11.50 11.90 0.50 14.73 13.98 14.30 0.56 640.00 630.00 630.82 -9.14 0.42 0.41 0.41 -0.18 1.30 1.20 1.25 0.07 3.14 2.92 3.08 0.01 18.11 18.11 18.11 1.00 1.89 1.64 1.75 0.07 41.89 38.94 39.34 -1.64 4.39 3.34 4.39 0.05 6.99 5.86 5.86 -1.00 26.19 26.08 26.08 -1.37 21.00 21.00 21.00 -0.39 72.24 69.25 71.20 -0.25 12.50 12.50 12.50 -0.25 7.44 6.65 6.72 -0.63 0.96 0.80 0.92 0.07 0.50 0.50 0.50 0.00 4.14 3.82 3.89 0.02 51.99 50.90 51.14 -0.68 9.53 7.53 8.62 0.09 8.24 7.50 8.24 0.99 15.60 14.40 14.45 -0.95 1.60 1.39 1.50 0.07 1.23 1.00 1.01 0.03 5.25 5.02 5.25 0.20 9.05 9.00 9.01 -0.24 0.50 0.34 0.50 0.01 0.41 0.31 0.32 -0.01 24.16 23.10 23.55 0.54 67.38 66.25 67.05 1.05 12.50 11.60 12.50 1.00 14.40 13.75 13.80 0.15 1.44 1.38 1.39 0.02 9.39 9.00 9.01 -0.02 37.99 37.00 37.99 0.99 5.39 4.71 5.39 0.49 4.30 4.30 4.30 0.34 6.95 5.70 6.40 0.05 3.84 3.45 3.50 0.25 234.00 228.60 230.09 0.92 14.50 14.00 14.41 0.73 0.52 0.20 0.27 -0.13 19.80 19.40 19.40 -0.10 0.15 0.14 0.14 0.01 129.00 123.05 125.61 -2.63 59.85 58.31 58.47 -0.68 1.60 1.32 1.60 -0.01 54.00 50.50 53.91 2.36
Close 1,002.13 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -4.10 Market cap 140,377.44 mn Div Yield (%) 2.70
Last 60 days High Low
1030 1.90 385257 7.40 5434 24.59 7400 2.99 5500098 12.84 601 17.85 6861 14.84 216 747.48 10080 1.49 113 2.00 518 3.90 1210 23.99 35842 2.37 9755 47.00 1501 8.00 262969 8.90 1425 27.54 160 21.78 1837 73.09 500 13.75 3825 8.50 905 1.39 500 1.10 77416 4.47 6890 52.00 129017 9.53 3057 8.24 603 19.24 9017 2.00 103 1.81 205 5.97 800 9.89 27002 0.75 18194 0.95 5519163 25.14 1778858 71.89 604526 12.50 7500 15.50 6540 1.98 5158 10.50 502 39.89 501 6.85 4000 5.00 611 6.95 1300 3.84 5082 276.50 1004 14.50 91752 1.00 3099 20.29 6000 0.56 22502 132.00 22393 63.30 15002 2.00 3446 59.25
2010 Div BR (%) (%)
0.52 4.00 30 19.10 20 1.32 7.5 9.20 8.10 - 15B 11.50 20 544.00 0.15 0.56 5 2.90 17.11 15 1.62 36.10 5 3.10 2.90 24.02 20 10B 18.51 35 44.05 70 12.50 10 6.30 10 20B 0.39 0.31 3.31 10 36.00 20 3.00 4.99 8 13.25 1.10 0.16 5 4.82 6.10 22.5 0.32 0.14 20.25 15 50.25 25 45R 6.00 13.00 30 1.26 8.50 25SD 31.25 40 3.90 3.57 10 5.11 - 100R 1.51 5 169.00 7.00 0.20 16.35 45 0.08 86.50 80 20B 44.28 1.00 42.30 35 -
% Change -0.41 5-Day High 1,006.23 5-Day Low 1,002.13 2011 Div BR (%) (%) -
-
Performance of SR Pharma and Bio Tech Index
0.08
62.30 60.80 61.83 546.70 541.00 544.87
15514 9559 17700 4037 43572 4184 1206 506 13911 2866 23702 3325
2010 Div BR (%) (%)
% Change -0.42 5-Day High 1,300.16 5-Day Low 1,292.63
PHARMA AND BIO TECH
Close 1,585.78 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
High
PE
INDUSTRIAL ENGINEERING High Low 1,591.81 1,573.03 Total cos Defaulter cos P/BV (x) ROE (%) 3.27 38.02
-3.04 -0.27 1.80 -1.74 0.04 4.19 -0.27 0.00 0.12 -1.47 0.93 0.04
High Low 1,866.97 1,801.33 Total cos Defaulter cos P/BV (x) ROE (%) 13.62 30.30
Paid up Cap(mn)
Performance of SR Industrial Engineering Index Open 1,577.69 Turnover 51,464 P/E (x) 8.61
Open
Open 1,087.88 Turnover 392,695 P/E (x) 2.74
-
% Change -0.26 5-Day High 975.49 5-Day Low 960.57
Total Assets (Rs in mn)
8.20
MA (100-day)
HOUSEHOLD GOODS
CONSTRUCTION AND MATERIALS High Low 983.99 964.45 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.10
60.65
MA (10-day)
Performance of SR Household Goods Index
Performance of SR Construction and Materials Index Open 973.01 Turnover 2,000,980 P/E (x) 6.59
74.14 200.02 37.97 132.75 2.10 198.99 23.75 4.80 11.68 293.50 66.83 22.99
1.28 51.89 53.40 51.00 51.15 -0.74 5.94 5.94 5.01 5.94 0.00 3.63 10.30 10.50 9.30 9.30 -1.00 - 66.50 67.50 64.00 64.02 -2.48 0.66 6.92 6.55 6.25 6.55 -0.37 3.22 3.60 3.22 3.34 0.12 - 30.70 32.23 30.00 32.23 1.53 5.10 22.64 22.95 22.40 22.70 0.06 11.11 12.11 12.40 12.00 12.00 -0.11 33.03 72.34 73.98 68.76 73.98 1.64 2.45 70.04 72.90 69.00 69.00 -1.04 3.86 3.90 3.90 3.90 0.04 3.05 51.00 51.90 48.85 48.87 -2.13 4.60 4.60 4.10 4.26 -0.34 21.18 56.08 58.88 56.05 56.76 0.68 1.11 9.49 10.49 9.50 10.39 0.90 - 42.90 43.44 41.01 42.99 0.09 7.20 3.15 3.20 3.16 3.17 0.02 0.24 2.86 2.80 2.80 2.80 -0.06 2.28 12.30 12.40 12.00 12.40 0.10 3.31 10.67 10.75 9.67 9.67 -1.00 0.40 5.55 5.75 5.50 5.67 0.12 21.22 4633.50 4633.00 4500.00 4546.28 -87.22
-
% Change 1.84 5-Day High 1,071.96 5-Day Low 1,024.32
RSI (14-day)
FOOD PRODUCERS
INDUSTRIAL METALS AND MINING High Low 1,073.52 1,026.09 Total cos Defaulter cos P/BV (x) ROE (%) 1.16 33.10
-
Performance of SR Food Producers Index
Performance of SR Industrial Metals and Mining Index Open 1,030.04 Turnover 894,088 P/E (x) 3.52
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
2nd Support
Open 1,298.38 Turnover 140,098 P/E (x) 4.80
-
Descon Oxychem Ltd. Dewan Salman
-
Performance of SR Automobile and Parts Index
Company
High Low 1,611.00 1,581.12 Total cos Defaulter cos P/BV (x) ROE (%) 3.41 35.00
2011 Div BR (%) (%)
AUTOMOBILE AND PARTS
Performance of SR Chemicals Index Open 1,594.58 Turnover 27,314,113 P/E (x) 9.74
Ideal Spinning Mills Limited
% Change -0.08 5-Day High 747.49 5-Day Low 731.85
2010 Div BR (%) (%) 40 15
Alert ! Unusual Movements
Open 933.68 Turnover 34,704 P/E (x) 6.74 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 200 96 306
PE
Open
8.24 96.58 6.74 89.16 14.21 80.25 7.58 9.50 12.33 157.77 5.60 62.79
High
High Low 944.87 917.84 Total cos Defaulter cos P/BV (x) ROE (%) 1.50 22.31 Low
Close Chg
97.40 94.00 94.07 -2.51 90.48 89.20 89.26 0.10 81.99 79.00 79.02 -1.23 9.40 9.20 9.40 -0.10 158.00 152.09 155.02 -2.75 62.80 61.80 62.29 -0.50
Close 920.74 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 13489 2527 9830 260 1815 6777
112.50 94.90 89.98 9.88 164.99 69.00
94.00 82.20 69.52 7.16 116.00 59.00
RSI (14-day)
36.64
Total Assets (Rs in mn)
5,548.30
MA (10-day)
1.81
Total Equity (Rs in mn)
1,598.52
MA (100-day)
1.88
Revenue (Rs in mn)
80.62
MA (200-day)
2.11
Interest Expense
1st Support
1.66
Loss after Taxation
28.12
2nd Support
1.61
EPS 10 (Rs)
1st Resistance
1.80
Book value / share (Rs)
2nd Resistance
1.89
PE 11 E (x)
Pivot
1.75
PBV (x)
(172.17) (0.978) 9.08 0.19
FLYNG closed down -0.05 at 1.71. Volume was 5 per cent below average and Bollinger Bands were 52 per cent narrower than normal. The company's loss after taxation stood at Rs28.864 million which translates into a Loss Per Share of Rs0.16 for the 1st quarter of current fiscal year (1QFY11). FLYNG is currently 18.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of FLYNG at a relatively equal pace. Trend forecasting oscillators are currently bearish on FLYNG.
Karachi Electric Supply Corp Ltd
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
40.83
Total Assets (Rs in mn)
MA (10-day)
2.97
Total Equity (Rs in mn)
MA (100-day)
2.42
Revenue (Rs in mn)
MA (200-day)
2.45
Interest Expense
1st Support
2.67
Loss after Taxation
2nd Support
2.57
EPS 10 (Rs)
1st Resistance
2.90
Book value / share (Rs)
2nd Resistance
3.03
PE 11 E (x)
Pivot
2.80
PBV (x)
207,629.50 (525.11) 103,936.52 6,823.64 (14,641.22) (0.684) (0.02) (111.35)
KESC closed down -0.11 at 2.73. Volume was 23 per cent below average and Bollinger Bands were 19 per cent wider than normal. The company's loss after taxation stood at Rs1.782 billion which translates into a Loss Per Share of Rs0.09 for the 1st quarter of current fiscal year (1QFY11). KESC is currently 11.6 per cent above its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into KESC (mildly bullish). Trend forecasting oscillators are currently bearish on KESC.
BOOK CLOSURES Company
From
To
(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 # Shaheen Insurance Redo Textiles # United Distributors # (TFC) Saudi Pak Leasing (FTC) Allied Bank Int Ind (Consolidated) Ideal Energy # Olympia Spng. Weaving Mills # Shadman Cotton Mills Mehran Sugar Mills Int Industries #
29-Jan 29-Jan 29-Jan 01-Feb 01-Feb 01-Feb 05-Feb 06-Feb 07-Feb 07-Feb 07-Feb 08-Feb 10-Feb 14-Feb 16-Feb 18-Feb 18-Feb 19-Feb 21-Feb -
12-Feb 05-Feb 04-Feb 07-Feb 08-Feb 07-Feb 12-Feb 12-Feb 14-Feb 14-Feb 14-Feb 14-Feb 27-Feb 24-Feb 26-Feb 26-Feb 26-Feb 28-Feb -
D/B/R 20(R) 25 (R) 15 (I) 5 7.5(I) -
Spot AGM/Date 24-Jan -
29-Jan 29-Jan 07-Feb 07-Feb 09-Feb 10-Feb 14-Feb 15-Feb 14-Feb 26-Feb 26-Feb 26-Feb 24-Feb
INDICATIONS
Change -12.93 Market cap 30,797.16 mn Div Yield (%) 6.60
Last 60 days High Low
Fundamental Highlights As on Jun 30, 2010
Technical Analysis
2010 Div BR (%) (%) 20 30
20B -
% Change -1.39 5-Day High 942.71 5-Day Low 920.74 2011 Div BR (%) (%) -
-
# Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Grays of Cambridge Lakson Tobacco Pak Tobacco Shifa Int.Hospitals Eye Television Media Times LtdXR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 54.05 3.17 93 167.53 50 289.8 110.73 31.29 20 19.71 2.36 45.92 3.25 25.13
High 56.75 3.34 96.89 175.9 50 291 113.99 32.5 20.49 19.71 2.45 47.19 3.38 26.05
Low Close 53.25 3.15 91 167 47.51 277.01 113.98 31.01 19.8 18.71 2.25 44 3.2 25.1
54.01 3.22 95.99 175.46 47.61 277.01 113.98 31.01 20.16 18.71 2.33 45.38 3.25 25.7
Change -0.04 0.05 2.99 7.93 -2.39 -12.79 3.25 -0.28 0.16 -1 -0.03 -0.54 0 0.57
Vol 10903 1073287 103007 629260 955 201 119 1696 4692 120 609437 2919 452845 1003713
7
Saturday, January 29, 2011 Ask Gen Insurance
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,128.02 Turnover 1,855,462 P/E (x) 6.12 Paid up Cap(mn)
Company
Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,151.09 1,127.23 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84
PE
Open
High
Low
Close Chg
37740 12.79 3000 0.64 8606 6175 -
19.13 2.13 2.71 3.83
19.49 2.24 2.80 3.99
19.12 2.13 2.70 3.81
19.19 2.15 2.72 3.93
0.06 0.02 0.01 0.10
Close 1,131.76 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 1271610 142374 441478 41569
Change 3.74 Market cap 78,461.97 mn Div Yield (%) 10.22
% Change 0.33 5-Day High 1,146.32 5-Day Low 1,128.02
Last 60 days High Low
2010 Div BR (%) (%)
20.65 2.67 3.45 4.65
17.5 1 -
18.21 2.12 2.40 3.35
2011 Div BR (%) (%)
-
-
-
204
6.78
10.30
Company
Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric Tri-star Power XD
PE
Open
High
Low
39.51 1.65 2.84 18.60 4.49 43.48 16.65 17.50 18.00 2.22 0.90
39.49 1.74 2.93 19.25 4.60 43.70 17.15 17.94 18.10 2.27 0.91
38.84 1.63 2.70 18.90 3.85 42.77 16.60 17.52 18.10 2.16 0.86
Close 1,340.52 Listed cap 95,369.29 mn Payout (%) 104.13
Change -13.78 Market cap 109,709.94 mn Div Yield (%) 7.22
Close Chg
Volume
Last 60 days High Low
39.00 1.70 2.73 18.90 4.59 43.02 16.97 17.81 18.10 2.24 0.86
1482818 129430 1447717 24794 2001 224243 1907890 671517 1000 78010 2101
41.20 2.15 3.55 22.85 5.39 45.85 18.01 18.70 19.50 2.80 1.75
-0.51 0.05 -0.11 0.30 0.10 -0.46 0.32 0.31 0.10 0.02 -0.04
33.15 1.50 2.07 17.95 3.85 39.00 13.01 14.14 17.89 2.09 0.75
% Change -1.02 5-Day High 1,354.29 5-Day Low 1,331.00
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
7.8R -
-
-
Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 8390
8.25 3.36
Open
High Low 1,605.74 1,566.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 11.41
High
27.79 22.17
27.99 22.60
Low 27.55 21.80
Close Chg 27.72 -0.07 22.28 0.11
Close 1,587.05 Listed cap 12,202.80 mn Payout (%) 66.79
Last 60 days High Low
Volume 9937 345613
34.75 25.30
25.71 19.95
% Change 0.08 5-Day High 1,632.49 5-Day Low 1,585.85
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS
Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 7.02 71.87 Askari Bank 6427 8.79 18.44 Bank Alfalah 13492 15.03 11.56 Bank AL-Habib 7322 8.08 37.62 Bank Of Khyber 5004 5.45 4.00 Bank Of Punjab 5288 8.97 BankIslami Pak 5280 965.00 3.90 Faysal Bank 7309 4.85 15.09 Habib Bank Ltd 10019 7.73 123.62 Habib Metropolitan Bank 8732 8.11 26.70 JS Bank Ltd 8150 2.44 KASB Bank Ltd 9509 1.51 MCB Bank Ltd 7602 10.35 231.82 Meezan Bank 6983 9.80 18.99 Mybank Ltd 5304 2.88 National Bank 13455 6.80 78.19 NIB Bank 40437 2.85 Samba Bank 14335 1.95 Silkbank Ltd 26716 2.62 Soneri Bank 6023 7.30 Stand Chart Bank 38716 12.02 7.94 Summit Bank LtdSPOT 7251 3.82 United Bank Ltd 12242 8.08 68.69
High
Close Chg
72.75 71.51 72.26 0.39 18.75 18.26 18.46 0.02 11.85 11.50 11.72 0.16 37.95 37.45 37.50 -0.12 4.13 3.85 4.09 0.09 9.04 8.88 8.95 -0.02 4.20 3.85 3.86 -0.04 15.68 14.80 15.05 -0.04 124.96 123.00 123.82 0.20 27.20 26.50 26.52 -0.18 2.50 2.35 2.37 -0.07 1.69 1.60 1.67 0.16 235.40 231.40 233.43 1.61 19.05 18.40 18.53 -0.46 3.00 2.81 2.83 -0.05 78.60 77.60 77.86 -0.33 2.90 2.80 2.87 0.02 2.00 1.70 1.76 -0.19 2.66 2.57 2.59 -0.03 7.35 7.25 7.30 0.00 7.85 7.76 7.81 -0.13 4.00 3.78 3.79 -0.03 69.24 68.30 68.80 0.11
Change 2.55 Market cap 721,746.56 mn Div Yield (%) 4.73
Last 60 days High Low
Volume
67107 74.00 1250449 19.25 2317781 11.97 136968 39.49 20123 4.70 1318765 10.59 141316 4.50 46953 17.10 192270 128.97 25503 29.28 49261 3.00 504647 2.80 789486 250.48 15006 20.30 33006 3.40 1204109 80.61 262496 3.35 249663 2.17 1232444 3.05 29481 8.48 9646 9.04 32694 4.63 282405 70.65
54.96 14.96 9.11 31.50 3.16 8.34 3.00 14.01 100.50 19.70 2.35 1.49 199.00 14.50 1.90 63.53 2.59 1.51 2.50 7.00 6.33 2.70 55.25
% Change 0.21 5-Day High 1,202.81 5-Day Low 1,191.73
2010 Div BR (%) (%) 20 - 20B - 66R 55 -63.46R 10 -
-
-
Performance of SR Non Life Insurance Index
Paid up Cap(mn)
Company Adamjee Insurance
25R
-
40.00
32.10
-
-
-
-
83.00
52.00
10
10B
-
-
Century Insurance
457
6.48
10.76
11.45
10.30
10.36 -0.40
19852
12.00
9.65
-
-
-
-
1250
-
40.20
41.18
40.00
40.14 -0.06
30586
47.90
39.48
-
-
-
-
718 16.90
92.00
92.00
91.00
91.08 -0.92
1123
81.10
10
20B
EFU General Insurance IGI Insurance New Jub Insurance Pak Reinsurance
99.88
UPTO 100 VOLUME
-
842 5275
-
Symbols CHCC ICL LIBM UVIC TICL BAPL NESTLE CJPL ADAMS FZTM AABS MUBT SFL RMPL UPFL FASM SIEM KSTM JSGCL FIBLM FNEL CML GAIL GATI BILF JOPP PECO SURC DKTM DWTM FZCM HINO SSML TOWL TSMF ZAHT TSBL ESBL KASBM HINOON TATM ADOS EMCO FCONM IGIBL SCLL SMCPL AGSML MWMP STCL BUXL STPL TREI DSML GENP GUSM KML MRNS PNGRS SALT SNAI AASM BAFS BTL BWHL CLCPS CSIL CSUML DCM
-
791 16.03
59.00
59.85
59.45
59.48 0.48
150
61.80
53.38
-
-
-
-
3000 45.97
18.10
18.30
17.87
17.93 -0.17
173986
19.40
14.00
-
-
-
-
9.00
8.25
8.99 -0.11
7853
10.75
2.61
-
-
-
-
PICIC Ins Ltd
350
-
9.10
Premier Insurance
303
6.21
11.07
11.49
10.51
11.49 0.42
902
12.93
9.00
-
-
-
-
Shaheen Insurance
200
-
11.90
12.00
11.10
11.10 -0.80
504
14.53
11.10
-
-
-
25R
United Insurance XB
400
2.46
7.39
7.80
6.80
7.50 0.11
9033
7.80
5.00
-
-
-
-
LIFE INSURANCE Open 813.78 Turnover 80,584 P/E (x) 5.69 Company
Paid up Cap(mn)
PE
500
-
East West Life
Open 2.36
High Low 814.49 799.25 Total cos Defaulter cos P/BV (x) ROE (%) 0.69 5.20
Close 803.40 Listed cap 11,111.34 mn Payout (%) 79.54
Change -2.94 Market cap 49,126.54 mn Div Yield (%) 5.99
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 27.54
95.53
95.71
94.77
95.02 -0.51
564222
96.35
66.50
% Change -0.36 5-Day High 814.93 5-Day Low 803.40
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
High Low 849.55 803.43 Total cos Defaulter cos P/BV (x) ROE (%) 3.19 3.85
High
Low
2.26
Close Chg
2.26
2.26 -0.10
Close 816.00 Listed cap 2,290.72 mn Payout (%) 355.53
Volume 308
Change 2.22 Market cap 9,569.39 mn Div Yield (%) 4.29
Last 60 days High Low 4.62
% Change 0.27 5-Day High 833.64 5-Day Low 813.78
2010 Div BR (%) (%)
2.18
-
2011 Div BR (%) (%)
20R
-
-
EFU Life Assurance
850 38.66
68.00
71.39
67.50
68.05 0.05
76196
86.95
62.75
-
-
-
-
New Jub Life Insurance
627 30.20
44.52
46.50
43.25
45.00 0.48
4080
49.31
40.00
-
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 417.13 Turnover 2,247,043 P/E (x) 11.82 Paid up Cap(mn)
PE
Open
High Low 426.47 411.19 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 0.91
High
Low
Close Chg
Close 415.21 Listed cap 30,336.44 mn Payout (%) 99.56
Volume
Last 60 days High Low
% Change -0.46 5-Day High 424.47 5-Day Low 415.21
2010 Div BR (%) (%)
2011 Div BR (%) (%)
AMZ Ventures
225
1.68
0.53
0.85
0.50
0.74 0.21
0.95
0.33
-
-
-
-
360
4.01
20.14
20.80
20.00
20.35 0.21
8919
22.40
16.00
-
20B
-
-
450 13.28
8565
28.00
20B
1481640
Arif Habib Limited
612763
Change -1.92 Market cap 19,173.35 mn Div Yield (%) 3.27
Arif Habib Investments
25.91
26.65
25.70
26.03 0.12
24.40
-
3750
4.92
26.44
27.00
26.40
26.79 0.35
30.20
22.80
30
-
-
-
Cap Assets Leasing
107
1.80
1.40
2.30
2.30
2.30 0.90
262
2.49
0.51
-
-
-
-
Dawood Equities
250
-
1.92
2.00
1.85
1.90 -0.02
2951
2.75
1.28
-
-
-
-
600 733.00
-
Arif Habib Corp
Invest and Fin Sec
-
-
7.87
7.69
7.33
7.33 -0.54
1001
8.98
6.16
11.5
-
-
Invest Bank
2849
-
0.70
0.71
0.56
0.68 -0.02
5242
1.09
0.50
-
-
-
-
Ist Cap Securities
3166
-
3.21
3.57
3.22
3.25 0.04
512
4.20
2.95
-
10B
-
-
7512
-
-
-
626
0.59
1.61
1.79
1.65
1.65 0.04
2.14
1.05
-
Jah Siddiq Co
7633
-
11.74
11.88
11.65
11.73 -0.01
14.05
9.54
10
-
-
JOV and CO
508
-
3.82
3.99
3.79
3.82 0.00
33930
5.38
3.10
-
-
-
-
JS Investment
1000 28.17
6.74
6.89
6.71
6.76 0.02
39113
7.59
5.80
-
-
-
-
KASB Securities
1357276
-
1000
-
4.31
4.95
4.11
4.49 0.18
103827
5.43
3.86
-
-
-
-
Orix Leasing
821
4.60
6.52
6.50
6.25
6.26 -0.26
9202
7.29
5.25
-
-
-
-
Pervez Ahmed Sec
775
-
1.94
1.99
1.90
1.91 -0.03
41484
2.70
1.84
-
-
-
-
Saudi Pak Leasing
452
-
0.66
0.84
0.46
0.50 -0.16
14422
0.97
0.41
-
-
-
-
2011 Div BR (%) (%)
NON LIFE INSURANCE Open 806.34 Turnover 822,404 P/E (x) 13.29
-
37.38 -0.02 73.08 -3.60
Ist Dawood Bank
High Low Close 1,215.08 1,191.82 1,201.36 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.19 13.94 40.49 Low
10.00
37.11 72.85
Company
Change 1.20 Market cap 33,913.41 mn Div Yield (%) 6.66
Performance of SR Banks Index Open 1,198.81 Turnover 10,178,885 P/E (x) 8.56
12.75
37.40 79.00
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,585.85 Turnover 355,550 P/E (x) 10.02
7973
37.40 76.68
Performance of SR Life Insurance Index
High Low 1,361.93 1,332.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.35 9.35
11572 7.14 1560 7932 1695 10.50 126 2.80 8803 5.23 3673 3.72 3541 28.73 191 3.38 1367 150 -
11.19 0.89
5.94 8.30
ELECTRICITY
Paid up Cap(mn)
11.19
369 279
Performance of SR Electricity Index Open 1,354.29 Turnover 5,971,523 P/E (x) 14.42
11.30
Atlas Insurance Central Insurance XB
EQUITY INVESTMENT INSTRUMENTS Open 1,388.54 Turnover 5,642,895 P/E (x) 18.75 Company
High Low 1,425.92 1,371.93 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 2.21
Close 1,400.58 Listed cap 29,771.58 mn Payout (%) 104.74
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
1st Fid Leasing AL-Meezan Mutual F. Atlas Fund of Funds
Change 12.03 Market cap 18,938.01 mn Div Yield (%) 8.68
Last 60 days High Low
% Change 0.87 5-Day High 1,400.58 5-Day Low 1,384.28
2010 Div BR (%) (%)
2011 Div BR (%) (%)
264
9.38
1.56
1.75
1.50
1.50 -0.06
150674
2.00
1.18
-
-
-
-
1375
7.39
8.68
9.00
8.65
8.87 0.19
126402
9.15
6.05
18.5
-
-
-
525
1.81
4.50
4.50
4.50
4.50 0.00
400
5.47
3.11
2.2
-
-
-
B R R Guardian Mod.
780
3.55
1.74
1.80
1.47
1.56 -0.18
655
2.79
1.06
0
-
-
-
Crescent St Modaraba
200
1.78
0.57
0.75
0.54
0.71 0.14
27532
0.87
0.16
1.2
-
-
-
Elite Cap Modaraba
113
3.44
2.75
2.75
2.75
2.75 0.00
272
3.49
2.05
5
-
-
-
Equity Modaraba
524 11.75
1.91
2.00
1.87
1.88 -0.03
1222
2.98
1.06
-
-
-
-
Golden Arrow
760
2.39
3.35
3.40
3.23
3.34 -0.01
111966
3.60
2.56
17
-
-
-
H B L Modaraba
397
2.63
8.00
8.24
7.30
7.88 -0.12
6003
9.00
5.75
11
-
-
-
Habib Modaraba
1008
6.03
7.01
7.00
7.00
7.00 -0.01
100480
7.30
6.00
21
-
-
-
JS Growth Fund
3180 72.25
5.75
5.84
5.70
5.78 0.03
61852
6.10
2.70
5
-
-
-
JS Value Fund
1186 21.21
5.50
5.98
5.45
5.94 0.44
154313
5.98
2.70
10
-
-
-
Meezan Balanced Fund
1200
2.22
7.50
7.90
7.31
7.74 0.24
231500
8.25
5.15
15.5
-
-
-
Mod Al-Mali
184 15.00
1.56
1.73
1.49
1.50 -0.06
6116
2.50
0.90
-
-
-
-
Pak Modaraba
125
6.40
1.14
1.28
1.00
1.28 0.14
1005
2.00
0.46
3
-
-
-
1000
2.07
7.15
7.22
7.02
7.12 -0.03
9599
7.80
5.31
10
-
-
-
PICIC Energy Fund PICIC Growth Fund
2835
9.29
14.50
15.06
14.50
14.50 0.00
2141520
15.06
8.00
20
-
-
-
PICIC Inv Fund
2841
7.39
6.30
6.64
6.16
6.50 0.20
2503425
7.14
3.67
10
-
-
-
Prud Modaraba 1st
872
2.27
1.00
1.01
1.00
1.00 0.00
7770
1.20
0.81
3
-
-
-
Stand Chart Modaraba
454
4.67
9.52
9.52
9.52
9.52 0.00
149
10.29
8.51
17
-
-
-
10.41 26.58 68.12 2.80 48.95 7.90 3150.01 1.00 15.10 411.36 97.40 1.00 119.98 2281.00 1160.00 36.00 1152.21 0.67 27.32 2.47 6.99 2.39 4.61 48.02 1.10 11.48 152.00 39.98 2.01 10.00 70.00 125.73 2.39 6.52 1.29 3.90 3.10 2.99 2.69 27.92 37.05 16.70 2.91 1.10 2.64 2.65 7.25 5.50 1.36 8.65 12.00 9.01 1.95 3.00 0.81 6.00 2.88 56.70 4.26 61.28 42.75 29.80 60.50 57.13 34.10 2.37 4.89 3.18 1.79
High 11.00 25.52 69.50 2.75 51.39 8.48 3307.00 1.23 16.00 425.00 102.25 1.00 113.99 2390.00 1218.00 35.00 1135.00 0.56 28.08 2.84 7.89 2.57 4.90 49.99 1.70 12.00 155.95 41.94 2.00 10.00 66.50 131.00 2.50 7.50 1.41 4.00 3.50 2.39 3.17 27.98 38.65 17.70 2.98 1.98 2.75 2.68 7.43 6.49 1.87 8.50 12.00 9.39 1.95 3.74 0.85 6.90 3.10 58.25 5.00 64.28 44.00 28.32 59.95 57.25 35.80 2.98 5.80 3.40 1.50
Low
Close
11.00 25.52 69.50 2.75 51.39 7.31 3150.09 1.00 16.00 418.90 102.25 1.00 113.99 2167.00 1214.09 34.50 1100.00 0.52 26.55 2.00 6.01 2.20 4.26 49.00 1.63 12.00 150.00 38.26 2.00 10.00 66.50 131.00 2.50 7.50 1.41 4.00 3.50 2.00 2.40 27.20 35.20 17.69 2.98 1.98 2.75 2.68 7.43 4.51 1.31 8.00 11.02 9.00 1.55 2.71 0.84 5.80 2.84 58.25 4.88 64.00 42.00 28.32 59.95 57.25 35.80 2.98 5.70 3.40 1.50
11.00 25.52 69.50 2.75 51.39 8.48 3293.75 1.16 16.00 421.08 102.25 1.00 113.99 2320.00 1216.99 34.67 1135.00 0.56 26.63 2.01 6.01 2.57 4.75 49.00 1.63 12.00 155.41 38.26 2.00 10.00 66.50 131.00 2.50 7.50 1.41 4.00 3.50 2.29 2.84 27.98 36.25 17.69 2.98 1.98 2.75 2.68 7.43 4.51 1.68 8.23 12.00 9.35 1.95 3.23 0.85 6.35 3.10 58.25 5.00 64.28 42.00 28.32 59.95 57.25 35.80 2.98 5.70 3.40 1.50
Change
Vol
0.59 -1.06 1.38 -0.05 2.44 0.58 143.74 0.16 0.90 9.72 4.85 0.00 -5.99 39.00 56.99 -1.33 -17.21 -0.11 -0.69 -0.46 -0.98 0.18 0.14 0.98 0.53 0.52 3.41 -1.72 -0.01 0.00 -3.50 5.27 0.11 0.98 0.12 0.10 0.40 -0.70 0.15 0.06 -0.80 0.99 0.07 0.88 0.11 0.03 0.18 -0.99 0.32 -0.42 0.00 0.34 0.00 0.23 0.04 0.35 0.22 1.55 0.74 3.00 -0.75 -1.48 -0.55 0.12 1.70 0.61 0.81 0.22 -0.29
100 100 100 100 88 81 76 63 51 51 50 50 46 40 40 30 27 21 20 16 14 13 12 12 11 11 11 11 10 10 10 10 10 10 10 10 8 7 7 6 6 5 5 5 5 5 5 4 4 4 3 3 3 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1
FUTURE CONTRACTS Symbols
Performance of SR Equity Investment Instruments Index
Open
Open
ANL-FEB 12.01 POL-FEB 330.18 DGKC-JAN 29.67 NML-JAN 66.02 FFBL-JAN 40.68 NML-FEB 66.37 FFBL-FEB 41.00 ANL-JAN 11.84 NBP-JAN 78.26 DGKC-FEB 29.89 POL-JAN 329.18 NBP-FEB 78.89 PTC-JAN 19.11 ENGRO-FEB 213.78 ENGRO-JAN 212.16 PSO-FEB 303.18 PSO-JAN 301.07 PTC-FEB 19.31 FFC-FEB 154.55 PPL-JAN 213.75 LUCK-JAN 74.17 MCB-JAN 232.13 MCB-FEB 233.20 FFC-JAN 153.64 PPL-FEB 215.32 LUCK-FEB 74.52 OGDC-JAN 174.07 BOP-FEB 9.06 BOP-JAN 8.94 OGDC-FEB 173.63 AICL-JAN 95.46 AICL-FEB 95.90 NETSOL-JAN 25.49 UBL-JAN 68.90 NETSOL-FEB 25.60 NCL-JAN 23.02 UBL-FEB 69.05 HUBC-JAN 39.45
High 12.15 334.50 29.98 67.35 41.45 67.90 41.75 11.95 78.40 30.29 332.95 79.00 19.46 215.70 214.50 308.00 305.49 19.55 154.25 213.90 74.75 235.25 236.00 153.80 215.90 74.60 174.50 9.10 8.95 174.50 96.00 96.00 25.99 69.00 26.51 24.00 69.60 38.85
Low
Close
11.70 329.00 29.15 66.15 40.76 66.50 41.15 11.60 77.00 29.90 327.70 78.20 19.07 213.05 211.50 303.00 300.26 19.25 152.50 210.01 73.60 230.50 232.50 151.75 211.75 73.80 173.00 8.91 8.79 171.60 94.71 95.30 25.50 68.50 26.00 23.10 69.40 38.85
11.77 330.16 29.69 67.06 41.27 67.57 41.52 11.65 77.73 29.94 329.52 78.34 19.14 213.98 212.08 307.08 304.43 19.31 153.77 210.43 73.94 233.19 234.99 152.99 212.35 73.80 173.23 8.95 8.83 172.42 95.21 95.96 25.67 68.67 26.00 23.84 69.47 38.85
Change -0.24 -0.02 0.02 1.04 0.59 1.20 0.52 -0.19 -0.53 0.05 0.34 -0.55 0.03 0.20 -0.08 3.90 3.36 0.00 -0.78 -3.32 -0.23 1.06 1.79 -0.65 -2.97 -0.72 -0.84 -0.11 -0.11 -1.21 -0.25 0.06 0.18 -0.23 0.40 0.82 0.42 -0.60
Vol 679000 653000 612000 577000 524500 449000 421000 405500 398000 383000 305500 300500 293500 255500 233500 223500 194500 168000 160000 156500 154000 153000 140000 122500 118000 97500 89000 86000 70500 69000 59500 58500 45500 30000 23500 22500 9000 3000
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
62.59
Support 1
12,431.20
MA (5-day)
12,449.88
Support 2
12,399.70
MA (10-day)
12,501.09
Resistance 1
12,513.55
11,072.70
Resistance 2
12,564.45
MA (100-day)
10,533.42
Pivot
Hold
*Invest Cap
*Arif Habib Ltd
37
Sell
*Arif Habib Ltd
TFD Research
44.25
Neutral
TFD Research
Technical Outlook Technical Analysis
Brokerage House
Fair Value 77
TFD Research
78.6
* Target price for Jun-11 & **Net Open Interest in future market
tors are currently bullish on FFBL.
Brokerage House
Buy
*Invest Cap
Positive
*Arif Habib Ltd TFD Research
Technical Analysis 54.13 67.70 56.16 52.42
175.80 11,787.38 87.40 66.67
* Target price for Jun-11 & **Net Open Interest in future market
Fair Value
Rs Recommendations
*Invest Cap
11.55
Hold
164.1
Buy
*Arif Habib Ltd
11.80
Hold
139.5
Neutral
TFD Research
14.01
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
72.59 151.91 116.75 112.70
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
373.19 57,012.22 105.27 153.08
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
ing that FFC is currently in an overbought condition.
674.58 7,906.06 N/A 11.66
* Target price for Jun-11 & **Net Open Interest in future market
Fair Value
Rs Recommendations
Brokerage House
displaying an upward trend. Volatility is low as compared to the average
strong flows of volume into BAFL (bullish). Trend forecasting oscillators are
Pakistan Telecommunication Co Ltd
Rs Recommendations
Brokerage House
360
Hold
*Invest Cap
47
Buy
*Invest Cap
336.1
Hold
*Arif Habib Ltd
50
Buy
*Arif Habib Ltd
Negative
TFD Research
Positive
TFD Research
281.35
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
BAFL is currently 20.7 per cent above its 200-day moving average and is
volatility over the last 10 trading sessions. Volume indicators reflect very
currently bullish on BAFL.
Hub Power Co Ltd
64.94 330.96 268.47 247.79
107.94 35,503.24 346.79 329.54
* 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)
55.77 39.08 35.68 34.89
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Rs Recommendations
25
Buy
24.7
Buy
25.8
Positive
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
50.3
Fair Value
810.01 31,590.31 1.51 39.21
* 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)
44.72 19.55 19.15 19.35
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
585.00 11,226.14 14.84 19.23
* Target price for Jun-11 & **Net Open Interest in future market
NML closed up 1.05 at 67.05. Volume was 62 per cent below average POL closed down -0.07 at 328.91. Volume was 14 per cent below average HUBC closed down -0.51 at 39.00. Volume was 19 per cent below aver- PTC closed up 0.06 at 19.19. Volume was 33 per cent below average and (consolidating) and Bollinger Bands were 4 per cent narrower than normal. and Bollinger Bands were 23 per cent wider than normal.
age and Bollinger Bands were 20 per cent wider than normal.
Bollinger Bands were 0.01 per cent narrower than normal.
NML is currently 27.9 per cent above its 200-day moving average and is POL is currently 32.7 per cent above its 200-day moving average and is HUBC is currently 11.8 per cent above its 200-day moving average and is PTC is currently 0.8 per cent below its 200-day moving average and is disdisplaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is high as compared to the average playing a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect mod- the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NML (mildly bullish). Trend forecasting oscilla- reflect moderate flows of volume into POL (mildly bullish). Trend forecast- flowing into and out of HUBC at a relatively equal pace. Trend forecasting erate flows of volume into PTC (mildly bullish). Trend forecasting oscillators are currently bullish on NML.
ing oscillators are currently bullish on POL.
oscillators are currently bullish on HUBC.
tors are currently bearish on PTC.
Time
29-Jan 29-Jan 29-Jan 29-Jan 29-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan 01-Feb 02-Feb 03-Feb 03-Feb 03-Feb
1:00 11:30 4:00 3:00 1:00 11:00 5:00 3:30 9:00 4:00 11:30 1:00 9:30 12:00 5:00 10:30 3:00 12:30 12:30 11:00
TECHNICAL LEVELS
Leverage Position
62.34 11.53 9.73 9.71
Date
Habib Sugar Mills Ltd Colony Sugar Mills Ltd Sakrand Sugar Mills Ltd Exide Pakistan Ltd Quetta Textile Mills Ltd Clariant Pakistan Limited Al-Abbas Sugar Mills Ltd Merit Packaging Limited Haseeb Waqas Mills Ltd Abdullah Shah Ghazi Sugar Mills Ltd First Habib Modaraba JDW Sugar Mills Ltd Frontier Ceramics Ltd Lucky Cement Limited Dewan Sugar Mills Ltd Adil Textile Mills Limited Byco Petroleum Ltd BMA Saving Fund BMA Cash Fund Fauji Cement Company Ltd
Company
Technical Outlook
* Target price for Jun-11 & **Net Open Interest in future market
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Brokerage House
Hold
FFBL is currently 33.6 per cent above its 200-day moving average and is FFC is currently 35.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect modvolatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into FFC (mildly bullish). Trend forecasting oscillaerate flows of volume into FFBL (mildly bullish). Trend forecasting oscilla- tors are currently bullish on FFC. Momentum oscillator is currently indicat-
Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,466.60 ** NOI Rs (mn) 114.32 Mean 41.04
Pakistan Oilfields Ltd
Rs Recommendations
Rs Recommendations
149
Technical Outlook
Leverage Position
62.16 41.72 33.20 30.85
Fair Value
FFBL closed up 0.49 at 41.19. Volume was 49 per cent above average and FFC closed down -0.89 at 152.77. Volume was 66 per cent above average BAFL closed up 0.16 at 11.72. Volume was 30 per cent below average and Bollinger Bands were 100 per cent wider than normal. and Bollinger Bands were 251 per cent wider than normal. Bollinger Bands were 8 per cent narrower than normal.
Nishat Mills Ltd
*Invest Cap
Brokerage House
39
12,482.05
cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,513.55 and 2nd resistance level at 12,564.45, while Index will continue to find its 1st support level at 12,431.20 and 2nd support level at 12,399.70. KSE 100 INDEX is currently 18.4 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 moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX.
Rs Recommendations
*Invest Cap
RSI (14-day) MA (10-day) KSE 100 INDEX closed down -14.30 points at 12,462.70. Volume MA (100-day) was 32 per cent below average and Bollinger Bands were 3 per MA (200-day) MA (200-day)
Fair Value
Bank Al-Falah Ltd
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 45.39 3.00 2.90 60.46 71.60 70.95 16.64 53.95 52.80 52.20 26.45 26.15 46.01 25.60 25.20 65.82 94.65 94.25 61.39 18.25 18.00 60.08 11.45 11.25 76.45 386.40 381.75 58.61 135.45 131.55 62.34 11.55 11.35 51.78 3.75 3.60 35.28 8.90 8.80 50.97 2.05 1.90 47.11 29.60 29.45 45.82 2.80 2.65 43.82 2.50 2.40 34.13 39.70 39.25 33.66 66.55 65.10 59.87 210.80 209.55 47.15 14.70 14.30 43.55 4.85 4.75 62.16 40.90 40.60 72.59 151.40 150.00 55.71 122.90 121.95 55.77 38.75 38.45 52.77 149.05 148.35 69.53 292.65 291.85 42.27 3.75 3.65 48.47 1.65 1.60 38.90 2.30 2.25 44.21 11.60 11.50 50.62 42.60 42.25 40.83 2.65 2.55 60.08 15.30 15.10 46.62 73.30 72.80 54.57 231.40 229.40 42.43 2.65 2.60 60.05 77.45 77.00 53.91 23.05 22.55 70.74 25.20 24.65 44.46 2.80 2.75 40.55 1.70 1.65 54.13 66.40 65.75 52.66 172.10 171.10 59.00 3.20 3.10 38.52 1.90 1.85 44.31 2.25 2.15 39.02 6.65 6.60 64.94 326.45 323.95 40.48 209.20 207.60 35.90 65.65 64.50 57.96 301.40 298.35 44.72 19.05 18.90 51.42 209.05 207.95 48.71 27.50 27.30 45.92 13.20 13.10 52.01 21.85 21.45 42.43 2.10 2.05 37.58 3.15 3.05 59.60 68.30 67.85 45.95 2.70 2.65
1st 2nd Resistance 3.20 3.30 72.85 73.40 57.30 59.50 27.05 27.35 26.55 27.10 95.55 96.10 18.70 19.00 12.00 12.30 398.40 405.70 141.85 144.30 11.90 12.05 4.10 4.30 9.05 9.10 2.25 2.35 29.90 30.05 3.05 3.20 2.75 2.85 40.90 41.60 70.45 72.85 214.15 216.25 15.55 16.05 5.00 5.05 41.45 41.75 154.30 155.80 124.85 125.90 39.40 39.75 150.65 151.65 294.15 294.85 3.95 4.05 1.75 1.80 2.45 2.55 11.85 12.00 43.55 44.10 2.90 3.00 15.75 15.95 74.35 74.95 235.40 237.40 2.75 2.80 78.45 79.00 24.10 24.65 26.15 26.55 2.90 2.95 1.80 1.85 67.55 68.00 174.50 175.90 3.35 3.45 2.00 2.05 2.45 2.55 6.80 6.90 332.20 335.45 213.20 215.60 67.80 68.80 306.55 308.70 19.40 19.65 211.40 212.60 27.95 28.20 13.40 13.50 22.65 23.05 2.20 2.30 3.35 3.45 69.25 69.70 2.80 2.85
Pivot 3.10 72.15 56.15 26.75 26.15 95.15 18.50 11.80 393.70 137.90 11.70 3.95 8.95 2.15 29.75 2.95 2.65 40.45 69.00 212.90 15.20 4.90 41.15 152.90 123.95 39.10 150.00 293.35 3.85 1.70 2.40 11.75 43.15 2.80 15.55 73.90 233.40 2.70 78.00 23.60 25.60 2.85 1.75 66.90 173.50 3.30 1.95 2.35 6.75 329.70 211.60 66.65 303.55 19.25 210.25 27.75 13.30 22.25 2.15 3.25 68.80 2.75
8
Saturday, January 29, 2011
Rahman in double Oscar race
Kajol, Tabu, Irrfan Khan proud with Padma Shri
I
T
he super talented actors Kajol, Tabu and Irrfan Khan and singer Usha Uthup have been named for the Padma Shri, the fourth highest civilian honour on the eve of Republic Day. Kajol started her career with Bekhudi and then went on to become one of the most loved actresses in Bollywood with films like Baazigar, Dilwale Dulhania Le Jayenge, Kuch Kuch Hota Hai and so on. Tabu, on the other hand, has been known for creating a niche for herself with films like Chandni Bar, Astitva, Maqbool, The Namesake and Cheeni Kum. Irrfan Khan can undoubtedly be called as the international Indian face with films like The Namesake, A Mighty Heart, Slumdog Millionaire to his credit. Usha Uthup started as a famous pop singer in Bollywood in the 70s and became a rage for her unique heavy voice and singing style. Her songs like 'Ek Do Cha Cha Cha', 'Shaan Se', 'Hari Om Hari','Rambha Ho' and 'Dum Maaro Dum' are evergreen classics. Legendary music composer Khayyam will also be honoured with Padma Bhushan. Veteran actors Shashi Kapoor and Waheeda Rehman have been honoured with Padma Bhushan.
MUMBAI: Anushka Sharma walks down the runway for the Mijwan Welfare Society 'Sonnets In Fabric' fashion show .-Reuters
Flashes & Sparks Usman Riaz
I
can't remember a time when I wasn't exposed to music. I am very privileged to come from a family full of extremely talented and creative people. My grandmother had a telling impact on my creative endeavors. Her work ethic when it came to her classical music, always fascinated me and later on, inspired me. I used to get up every morning and go to her room when I was young and she would be awake practicing her singing into a small metal glass to trap the sound. She was the one who first exposed me to piano. I must have been 6, at the time and I fell in love with the instrument. To this day my favorite genre
of music is classical. It is the most expressive and intricate form of music for me. Guitar was something entirely different from my classical roots. It was liberating taking the guitar up at 16 and playing 70's hard rock. Around 18 I started developing my own style on the guitar influenced by percussive guitarists like Michael Hedges and Kaki King. 'Flashes and Sparks', the debut work, was written in the last 2 years and is fairly accurate gauge, of what is to follow. "I always thank God for everything He has given me, starting with a loving family, my intrinsic creative abilities, and so much more ……. I have been very lucky to be exposed to so many creative people throughout my life. " "To me, music is magical!"
ndian composer AR Rahman bagged two Oscar nominations for his music in Danny Boyle's "127 Hours" on Tuesday, raising hopes of a repeat of his double triumph at the Academy Awards in 2009. Rahman, 45, was nominated for Best Original Song for the track "If I Rise" and for Best Original Score for the film. He won the same trophies in 2009 for his score in Boyle's muchacclaimed "Slumdog Millionaire", a film that introduced him to Hollywood. He has since composed songs for Hollywood films like "Couples Retreat" and "127 Hours" and won the Critics Choice award for his score in the latter. He however, lost out in the Golden Globes race to Trent Reznor and Atticus Ross, who won for their score in "The Social Network". Nicknamed "The Mozart of Madras" by the Indian media, Rahman will be up against Reznor and Ross at the Academy Awards, along with Alexandre Desplat for "The King's Speech" and Hans Zimmer for "Inception" in the Original Score category. In the Original Song category, he will be competing against Alan Menken for "I See the Light" from "Tangled" and Randy Newman for "We Belong Together" from "Toy Story 3", among others.Colin Firth starrer "The King's Speech" led nominations for the 83rd Academy Awards with twelve nods.
Patiala House to spring a pleasant surprise?
The King’s Speech has dozen Oscar F nominations B
ritish historical drama "The King's Speech" won the most Oscar nominations on Tuesday with 12 nods for the film industry's top honours, ahead of "True Grit", with 10. Facebook movie "The Social Network", which had been tipped for top nominations, got eight nominations along with "Inception", for the 83rd annual Academy Awards to be held on February 27. "The King's Speech", starring Colin Firth as the stammering King George VI, was a relative latecomer to the Oscars race, and scored a disappointing sole Golden Globe award earlier this month. Firth, who took the best actor trophy at the Globes for the film, is widely tipped to win an Oscar for his performance at next month's show. Geoffrey Rush meanwhile received an Oscar nomination for his supporting role in the film as the King's effervescent Australian speech therapist Lionel Logue, and Helena Bonham Carter a nod for her role as the young Queen Mother. Tom Hooper, who made "The Damned United" before "The King's Speech", is
up for best director. The film is also shortlisted in the screenplay, art direction, cinematography, music, editing, sound mixing and costume design categories, as well as best overall film, making it the most nominated film on the list. Other British stars in the running include Welsh-born Christian Bale, who is up for best supporting actor for his role in boxing movie "The Fighter", and director Mike Leigh, who has a nomination for original screenplay for "Another Year". Danny Boyle and Simon Beaufoy are up for adapted screenplay for rock-climbing film "127 Hours". The 10 films nominated for the best picture Oscar were: "Black Swan", "The Fighter", "Inception", "The Kids Are All Right", "The King's Speech", "127 Hours", "The Social Network", "Toy Story 3", "True Grit", and "Winter's Bone." The five nominees for best actor were: Javier Bardem for "Biutiful," Jeff Bridges in "True Grit," Jesse Eisenberg in "The Social Network," Firth in "The King's Speech" and James Franco in "127 Hours."
Four-day Fashion Week opens Isloo couture
or Nikhil Advani, Patiala House could well be the most important release of his four film career so far. Though he began on a positive note with Kal Ho Na Ho, his Salaam-e-Ishq saw mixed response coming his way. However what brought the film maker down was Chandni Chowk To China, a movie with which both he as well as Akshay Kumar went ambitious but not with much success. On its release in early 2009, the film failed at the box office. An action comedy, it was lambasted by the critics and many wondered if Nikhil would ever be able to wield the director's baton again. However the director wasn't required to lie low for long as he soon announced Patiala House with Akshay Kumar, a news that surprised quite a few. "Well, it should be my turn to surprise the audience now," smiles the soft spoken film maker who had incidentally assisted on films like Is Raat Ki Subah Nahi (with Sudhir Mishra) before going totally mainstream in Karan Johar camp with Kal Ho Na Ho. Well, one really hopes that Nikhil and Akshay do throw a pleasant surprise with Patiala House. By the look of the promos, the film is looking interesting for sure. Add to that the cricket angle to it with a family drama forming a background and Patiala House does promise to be a different product in the offing.
Ripe Aamir oversees the green Imran
A
T
he fashion starved people of the federal capital on Thursday got an excellent opportunity to finally witness a Fashion Week of international standard bringing young and established designers, models and brands for the fashion industry here. The first ever fashion week in federal capital will create both history and inclusion of Islamabad in the world's fashion capital while serving as an eye opener for local fashion industry besides creating a platform for local designers to participate and invite international fashion industry. Fashion Weeks world over have become the focal points for international textile, garment and fashion
buying houses where the host country showcases its textile, leather, footwear and other fashion accessories. These fashion events are not only promoting the countries finished products export but strengthen the fashion related and the cottage industries of the country, said the organizers, adding "This fashion week will be an ideal event that facilitates trade and exposure for our international guests as well as highlighting our local trade." The four days of high profile fashion extravaganza will showcase the leading international and regional fashion designers and brands, through
fashion runway shows and multimedia presentations. As many as 20 designers and brands including Ammar Belal, Rehana Saigol, Kamiar Rokni, Nilofer Shahid, FNK Asia, Envogue, Deeba and Zoe, Shafaq Habeeb, Sharifah Kirana, BNS Couture, Lawrencepur, Shaiyanne Malik, Sanam, Abhishek Kochhar, Chinyere, Gift University, Iqra University, SNS, Bizma Ahmed, Metro, Priyanka Bhansal and Aslam Khan with high profile makeup artists and choreographers. Objectives behind the week are to introduce Pakistan's fashion-related business to both domestic and international buyers, further assist them in
the creation of effective business link, widen the international network of Pakistan's fashion/textile businesses and assist in the promotion and development of small and medium enterprises in Pakistan, especially those whose scope of production is related to fashion accessories. Government and private organizers are the co sponsors of the event while Excellent Events and Entertainment (Pvt.) Limited (Triple-E) has organized the show. Leading name in fashion industry Tariq Amin is the consultant of the show who introduced the concept of "Style" in Pakistan,the organizers said. Tariq Amin boldly embraced his
artistic instincts and ventured into the world of design and creativity while over the past two and a half decades he has trained at various institutions Toni & Guy, Graham Webb International, Vidal Sassoon, I Natural, Glauca Rossi, Trevor Sorbie and Wella. His first bold initiative came when he did Benazir Bhutto's make up for her wedding in 1987 - and the photos of his work landed on the pages of iconic Vogue. Tariq Amin has been part of the Pakistani fashion industry for the past 25 years. He has been the hair expert and styled the fashion glitterati in Karachi and across Pakistan.
fter his last few films failed to entice a popular response, it's the turn of Aamir Khan to come to Imran Khan's rescue. Now, according to latest reports, for his upcoming film Delhi Belly, Aamir is making sure that the film gets the thumbs up from the audiences. For this to happen, Aamir has been holding private screenings of the film in order to fine tune it to the popular taste. Adds a source, "Aamir is not happy with the way Imran's last films have fared at the box-office. Though, Aamir does not like to interfere in Imran's career, but with Delhi Belly it's a different story. The film is very close to Aamir's heart and he is making sure that it is a winner at the box office." It must be mentioned that Imran is desperate to look for a big hit. Will Aamir's supervision help him realise this dream? Let's wait and watch.
Salman’s hosting career is on
T
he fourth season of celebrity reality show 'Bigg Boss' definitely has to credit the show's host and Bollywood superstar Salman Khan for its success. Salman has been a very candid and spontaneous host of the show and has proved to be a great entertainer for his fans. There is a good chance that fans might get to see this handsome hunk host the show again, as Salman is keen on donning the hat of the host for Season 5 too. This was his second time as a television host after '10 Ka Dum'. He is now looking forward to another stint with 'Bigg Boss 5'.
9
Saturday, January 29, 2011
Coffee soars to 13-1/2-yr high; sugar dips
HAVANA - CUBA: A woman sells popcorn on a street in Havana. -Reuters
Tokyo rubber rebounds TOKYO: Key Tokyo rubber futures recovered earlier losses to end slightly higher on Friday, as firm Shanghai rubber prices underscored a strong outlook for demand. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose as high as 469.5 yen, up 2.2 yen, or 0.5 per cent, before settling at 469.1 yen. It fell as much as 11.2 yen, or 2.4 per cent, to 456.1 yen earlier, dragged lower by declines in broader commodity prices and as investors, wary of the recent rapid pace of price increases, closed positions. The market fell 1.4 per cent in the week, posting its first weekly loss in a month. The benchmark contract hit a record peak of 474.8 yen on Monday. The most active rubber contract on the Shanghai futures exchange for May deliver rose as high as 40,945 yuan ($6,221) per tonne, just below a record peak of 41,200 yuan marked on Monday. The contract closed at 40,940 yuan per tonne on Friday, up from the previous close of 40,550 yuan. Volume stood at 610,376 lots. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 10.7 per cent from a week earlier, the exchange said on Friday. -Reuters
EU gold recovers from 4-month lows LONDON: Gold rose on Friday, recovering from a steep fall, after data showed the US economy expanded in the fourth quarter though at a slightly slower pace than expected. Spot gold was bid at $1,327.90 an ounce at 1616 GMT against $1,312.24 late in New York on Thursday. US gold futures for February delivery rose $10.6 to $1,329. The metal earlier touched a four-month low of $1,308.00 an
reported a 1.3-tonne outflow from its gold exchange-traded products on the same day. The Wall Street Journal said on Friday hedge fund SHK Asset Management liquidated a US gold futures position this week valued at over $850 million, more than 10 per cent of the main US futures market. While the outlook for ETF and futures investment is uncertain, physical demand for gold, particularly from Asia, is expected to
ounce, having fallen 2.6 per cent on Thursday on a run of firmer than expected US economic data which boosted confidence in the recovery. Though gold later recovered, it still looks fragile. "One of the dangers in the gold price this year is that if confidence rises, and US growth and the economic recovery continues, gold's allure as a hedge against risk is somewhat diluted," said VM Group analyst Carl Firman. "At the moment you probably find that money is going into riskier assets, perhaps with higher returns." Investment demand for gold has been soft this year, with holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, down another 3 tonnes on Thursday. London's ETF Securities
be a major factor underpinning prices this year. "The China Gold Association estimates... that the demand for gold in the first half of the year will rise by 15 per cent year on year, citing growing demand for alternative investments and protection against inflation," said Commerzbank in a note. "Already last year, China's gold demand posted double-digit growth, according to the World Gold Council," it said. Spot silver was bid at $27.39 an ounce against $26.88. Holdings of the world's largest silverbacked ETF, the iShares Silver Trust, fell to 10,426.43 tonnes on Thursday from 10,447.70 tonnes. Platinum was at $1,799.49 an ounce against $1,781 and palladium was at $811.50 against $802.22. -Reuters
Copper rises, tin hits new record on supply fears LONDON: Copper rose on Friday and tin hit another record high, both boosted by supply concerns, and underpinned by data showing the US economy gathered speed in the fourth quarter, although a stronger dollar weighed. Three-month tin on the London Metal Exchange (LME) hit a record $30,040 a tonne, propelled by tightening supply in major exporter Indonesia. Heavy rains and floods have hit tin miners there, squeezing supply and lifting prices. A senior mining official said the country would restrict annual output to a maximum 100,000 tonnes if high prices trigger a scramble for the metal. "Of all the base metals, tin has had the best fundamentals," said Nic Brown, head of commodities research, economics and strategy at Natixis. "Supply appears relatively constrained ... Demand remains strong, you have a deficit in the market that is gradually eroding available stockpiles and there is limited capacity for substitution into other materials." Tin closed at $29,600 a tonne from Thursday's last bid of $29,075. Three-month copper on the LME was $9,635 a tonne, up
from Thursday's close of $9,441, getting a lift from the US data, but gains were limited by a stronger dollar. The US economy grew at a 3.2 per cent annual rate in the final three months of 2010, after
Shanghai copper flats Shanghai's most-active April copper futures contract closed nearly flat at 71,730 yuan a tonne on Friday. The Shanghai Futures Exchange will provisionally raise trading margins and intraday limits for all contracts around the Lunar New Year holiday, to lower trading risk. expanding at a 2.6 per cent pace in the third quarter. The rise was a touch below economists' expectations for a 3.5 per cent rate. Chilean copper output fell 1.6 per cent in December compared with a year earlier but remained stable for 2010 as a whole, with an annual production of 5.412 million tonnes.
Looking to next week, top consumer China goes on holiday for the Lunar New Year. China accounts for nearly 40 per cent of global copper consumption. Stocks of copper in LME warehouses continued a recent climb, which has dented investors' confidence in the demand outlook, rising 800 tonnes to 398,075 tonnes, data showed on Friday. But prices remain underpinned by concerns about tightening copper supply, due to falling ore grades in top producers such as Chile as well as labour issues. LME aluminium was last quoted at $2,472/$2,473 a tonne from $2,427 a tonne. Zinc was at $2,354 from $2,260 a tonne, the biggest gainer among base metals. Nickel was $26,620 from $26,495 a tonne. Battery material lead was $2,437 from $2,420 a tonne. It has come under pressure from stocks in LME warehouses, which at 279,025 tonnes are at their highest since April 1995. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 27 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 27 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
2255 2265 2230 2240 2160 2170 2160 2170
2390 2391 2412 2413 2475 2480 2520 2525
9489.5 2489 9490 2490 9470 2429.5 9471 2430 9285 2373 9295 2378 8895 2323 8905 2328
26795 26800 26820 26830 25965 26065 24945 25045
TIN
29190 29195 29095 29100 28575 28625
ZINC NASAAC
2250 2251 2265 2267 2258 2263 2178 2183
2388 2389 2405 2415 2435 2445 2490 2500
LONDON: Coffee on ICE soared to a new 13-1/2-year high on Friday after technical levels were breached, while ICE raw sugar futures slipped from near 30-year peaks, underpinned by tight supplies. Cocoa on ICE fell from near its one-year top, which was hit after a call for an export ban in top grower Ivory Coast ignited concerns about global supply. Arabica coffee futures jumped as high as 4 per cent to $2.4635 per lb, the highest level for the front month contract since June 1997, after fund buying triggered automatic buy orders, dealers said. ICE March arabicas traded up 6.95 cents or 2.9 per cent at $2.4390 per lb at 1600 GMT. Liffe March robusta coffee was up $41 or 2 per cent at $2,131 per tonne. Sugar eased in a technical correction after rallying on Thursday after the European Union's executive said it would approve extra sugar imports to curb an expected shortage. The news sealed the biggest two-day rally since Oct. 8, totalling 7.5 per cent. Dealers said that ICE frontmonth sugar could potentially soon test the 30-year high of 34.77 cents a lb, touched on Dec. 29. ICE March raw sugar dipped 0.07 cent or 0.2 per cent at 34.11 cents a lb at 1600 GMT, having gone as high as 34.51 cents a lb, in sight of its 30-year high. London March white sugar fell $5.00 or 0.6 per cent to $819.50 per tonne. The Philippines on Friday raised its raw sugar output estimate for the current 2010-2011 crop year and said stocks of the sweetener were more than enough to meet demand, allowing it to delay or possibly scrap import plans. In cocoa, futures sagged in a technical correction after rallying almost 20 per cent over the past three weeks, bolstered by a fierce political standoff in top producer Ivory Coast after a Nov. 28 election, potentially threatening the supply pipeline. ICE May cocoa dipped $55 or 1.7 per cent to $3,284 a tonne at 1600 GMT, while London May cocoa fell 24 pounds or 1.1 per cent to 2,156 pounds a tonne.-Reuters
Oil jumps 2pc on US growth, Egypt turmoil US growth, consumer spending speeds up in Q4 NEW YORK: Oil prices jumped more than 2 per cent on Friday as investors reacted to accelerating growth in the United States in the fourth quarter of 2010 and increasing unrest in Egypt. The economy grew at a 3.2 per cent annual rate in the final three months of 2010, after expanding at a 2.6 per cent pace in the third quarter, the Commerce Department said on Friday. For the whole of 2010, the economy grew 2.9 per cent, the biggest gain since 2005. The economy contracted 2.6 per cent in 2009. Protests in Egypt and the government's response intensified, making investors more wary about the unrest.
Earlier, oil prices received a boost from news that the US economy gathered speed in the fourth quarter, fueled by the biggest gain in consumer spending in more than four
years and strong exports. "There is growing concern about the situation in Egypt and Yemen and there may be worry about not going into the weekend being too short," said Phil Flynn, analyst at PFGBest Research in Chicago. US crude oil for March delivery rose $2.25, or 2.6 per cent, to $87.89 a barrel at 1635 GMT.
Palm oil surges on supply concerns KUALA LUMPUR: Malaysian palm oil futures extended gains on Friday, as worries over heavy rains stalling harvesting lifted prices. Palm oil is set to post its first monthly loss in seven months, although traders expect the market to gain in the coming days as rains continue to reduce harvesting rounds in key Malaysian oil palm growing regions. Some were concerned that the flash floods in the top palm oil producing region of Johor in southern Malaysia may disrupt logistics but other traders said it was premature to predict the impact. "The floods are not really serious and we are in a low production period, but if heavy rains continue in Johor for more than a week, we may have a problem," said industry analyst M.R. Chandran. The benchmark April crude
palm oil contract on Bursa Malaysia Derivatives settled up 0.4 per cent to 3,700 ringgit ($1,212) per tonne. Traded volume stood at 16,934 lots at 25 tonnes each, compared to the usual 15,000 lots as investors squared positions ahead of the Lunar New year holidays next week. Refiners are also slowing production, leading to less demand for crude palm oil and tight refined palm oil supplies next week. Higher US soyoil prices in the previous session supported palm oil gains. But traders warn there may be some selling pressure as heavy rains benefit the competing Argentine soy crop in its critical pod-setting stage. US soyoil for March delivery fell 0.6 per cent in Asian trade hours on Friday, and the most active Sept soyoil contract on China's Dalian Commodity Exchange barely moved in slow trading. -Reuters
US cotton up, but falls away from new peak NEW YORK: US cotton futures settled higher Thursday on renewed speculative and fund buying boosted in part by a government sales report, but profit-taking knocked the market off its new record highs, analysts said. The cotton market has risen over 22 per cent since the middle of January, inspired by strong cotton prices in top consumer China and partly on tight deliverable stocks of cotton on the ICE Futures US exchange. The key March cotton contract on ICE Futures US rose 2.56 cents to finish at $1.6939 per lb, having traded up the 6-cent limit at a new record top of $1.7283. The session low was at $1.6625. Total volume stood at over 35,000 lots, almost double the 30-day norm, Thomson Reuters preliminary data showed. 'I think we made some kind of meaningful high today, but we won't know until a few days from now,' said Sharon Johnson, senior cotton analyst for brokerage Penson Futures in Atlanta, Georgia.
Mike Stevens, an independent cotton analyst in Mandeville, Louisiana, said chart-based market players apparently had a technical objective at $1.70, basis the March cotton contract. Once the market raced past that level early in the session, the rally in cotton seemed to lose steam. 'It's spec profit-taking because we reached a technical objective,' said Stevens. The market hit its 6-cent limit up shortly after the US Agriculture Department released its weekly export sales data. USDA said total US cotton sales reached 532,500 running bales (RBs 500-lbs each), above trade expectations it would range from 200,000 to 300,000 RBs and last week's total sales at 457,500 RBs. The market also got a partial boost from strong Chinese cotton prices. The key September cotton futures on the Zhengzhou Commodity Exchange was last done at 32,635 yuan per tonne, up 1,300 yuan. Reuters
In London, ICE Brent crude for March rose $1.05 to $98.44 a barrel, reaching $98.95 earlier. The smaller gains squeezed Brent's premium over its US counterpart, which had stretched to more than $12 per barrel, its widest since January 2009. Total US crude volume was above 822,600 lots traded just after 1630 GMT, according to Reuters data, 19 per cent above the 250-day average and already surpassing Thursday's 789,077-lot total. Total Brent trading volume was above 387.000 lots traded, according to Reuters data, 1.5 per cent above the 250-day average. -Reuters
European vegetable oil prices ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11 990.00, Mar11 990.00, Apr11 990.00, May11/Jul11 995.00+5.00, Aug11/Oct11 1000.00+5.00. RAPEOIL: Dutch/EU euro tonne fob exmill Mar11/Apr11 1040.00, May11/Jul11 1025.00+5.00, Aug11/Oct11 975.00+5.00, Nov11/Jan12 980.00+0.00, Feb12/Apr12 985.00. SUNOIL: EU dlrs tonne extank six ports option Feb11 1470.00-10.00, Mar11 1470.00-5.00, Apr11/Jun11 1450.00-10.00, Jul11/Sep11 1465.00-5.00, Oct11/Dec11 1375.00+5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1591.00+3.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1262.50+5.00, Feb11 1270.00+5.00, Mar11 1270.00+5.00, Apr11/Jun11 1245.00+7.50, Jul11/Sep11 1220.00+7.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1307.50, Mar11 1297.50, Apr11/Jun11 1272.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1255.00+2.50, Mar11 1245.00+2.50, Apr11/Jun11 122.50-1095.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1262.50+2.50, Mar11 1252.50+2.50, Apr11/Jun11 1230.00+5.00, Jul11/Sep11 1200.00+7.50, Oct11/Dec11 1187.50+7.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 2250.00+0.00, Feb11/Mar11 2200.00+0.00, Mar11/Apr11 2175.00+0.00, Apr11/May11 2160.00-5.00. Reuters
National Commodity Exchange Ltd Trading Summary Date
28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-Jan-2011 28-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 MA11 AP11 MY11 MA11 AP11 MY11 FE11 MA11 AP11 FE11 MA11 FE11 FE11 MON TUE WED THU FRI MON TUE WED THU FRI 03FE11 FE11 FE11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
87.00 89.37 91.34 27.42 27.39 1333.00 1333.30 1312.50 1336.20 1333.20 1333.90 36800.00 37010.00 36975.00 36973.00 36982.00 43125.00 43125.00 38037.00 38080.00 38094.00 38108.00 38023.00 43650.00 43800.00 43250.00 43800.00 43681.00 3300.00 3323.00 5237.00 86.09 85.32
87.24 89.49 91.34 28.83 28.85 1336.60 1336.60 1319.00 1336.20 1336.60 1333.90 37001.00 37010.00 37027.00 36973.00 36982.00 43125.00 43125.00 38037.00 38080.00 38094.00 38108.00 38023.00 43697.00 43800.00 43762.00 43800.00 43681.00 3307.00 3323.00 5237.00 86.09 85.32
85.11 87.99 91.03 26.58 27.39 1309.80 1310.90 1311.40 1316.80 1312.30 1317.50 36360.00 36491.00 36450.00 36510.00 36519.00 42552.00 42552.00 37527.00 37569.00 37583.00 37597.00 37611.00 43102.00 43150.00 43166.00 43183.00 43199.00 3300.00 3322.00 5235.00 86.08 85.32
85.67 88.64 91.03 28.83 28.85 1316.80 1317.50 1318.30 1316.80 1317.50 1317.50 36482.00 36491.00 36508.00 36510.00 36519.00 42552.00 42552.00 37527.00 37569.00 37583.00 37597.00 37611.00 43102.00 43150.00 43166.00 43183.00 43199.00 3307.00 3322.00 5235.00 86.08 85.32
Traded Volume in lots 323 66 390 4,626 3,556 103 79 38 8 17 6 3 10 -
Previous Settlement Price 85.18 88.03 90.38 26.61 26.60 1309.90 1310.60 1311.40 1309.90 1310.60 1311.40 36341.00 36350.00 36367.00 36313.00 36322.00 42355.00 42355.00 37356.00 37398.00 37411.00 37425.00 37439.00 42903.00 42951.00 42966.00 42982.00 42998.00 3300.00 3323.00 5237.00 86.09 85.32
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 85.67 142 88.64 29 91.03 2 28.83 51 28.85 1316.80 3,500 1317.50 3,116 1318.30 90 1316.80 1317.50 6 1318.30 36482.00 26 36491.00 1 36508.00 58 36510.00 1 36519.00 42552.00 42552.00 37527.00 37569.00 37583.00 37597.00 37611.00 43102.00 31 43150.00 10 43166.00 4 43183.00 12 43199.00 3307.00 3322.00 5235.00 86.08 85.32 -
Kostner of Italy performs during women's short program competition at European Figure Skating Championships in Bern.
10
Saturday, January 29, 2011
Vaughan puts money on India, Pakistan ENGLAND: Former England skipper Michael Vaughan says his money is on India or Pakistan to win the upcoming cricket World Cup. The former captain said he was sure that one of the four teams from the subcontinent would win the World Cup. He says that Bangladesh was not good enough yet, and the current crop of Sri Lankan players are not up to the mark. He termed India as the clear favourite, however he said that Pakistan was another team to watch out for. Vaughan believes that Pakistan may be missing three crucial players but even without them there is enough talent in the team to make a win possible. According to him, Pakistan will go with Misbahul Haq as their captain.-Agencies
Indians can emerge as champs: Kapil Monitoring Desk DUBAI: Kapil Dev, the man who lifted the World Cup for India in 1983 believes that India has the strongest batting line up in the world, and has the potential to lift this year's World Cup being played in the Indian subcontinent. Answering a query from Gulf News on whether India has a balanced team, Dev said: "The Indian team for the World Cup is the strongest batting line-up we have ever seen in world cricket. It looks a balanced team though the bowling is a bit weak. So if they can play to their abilities they can emerge world champions." Dev was in Dubai to announce the live coverage of ICC World Cup through Channel 2 Group's Cricket Radio. When asked whether Dhoni can emulate what he did in 1983 by lifting the World Cup, Dev said: "Dhoni should do better than me. He is a very fine cricketer, a fantastic captain and I hope he can achieve everything he wanted."
Afridi likely to be retained as WC skipper KARACHI: Shahid Afridi is likely to be retained as the one-day captain for the ICC World Cup 2011 after Chairman of the Pakistan Cricket Board (PCB) Ejaz Butt held discussions with the team management in New Zealand and chief operating officer in Lahore.According to a well-informed source in the board, all indications show that allrounder Afridi is likely to lead the side during the mega-event staring from February 19 to be held jointly by India, Sri Lanka and Bangladesh.The source told PTI that Butt held a half an hour discussion with chief operating officer today after his talks with the team management in New Zealand."Butt himself is not in
favour of having Afridi as captain and is more inclined towards Misbah-ul-Haq. Even Younis Khan wants Misbah as the skipper. But after getting all the feedbacks and suggestions the PCBake because he has to ensure there are no issues or conflicts within the team just before the World Cup," the source stated. The source also informed that Butt is likely to announce the World Cup captain this week after some more deliberations in New Zealtude and repeated violations of the board instructions in recent months."Definitely, Afridi is not the favourite candidate for captaincy but even the team management has told Butt not to change the captain for the World Cup at this stage."He
said another factor weighing on the mind of Butt is that some of the senior players in the touring side in New Zealand including Shoaib Akhtar, Abdul Razzaq, and Umar Gul are in favour of Afridi and want him to continue as the World Cup captain. "The PCB Chairman has a difficult decision to make because he has to ensure there are no issues or conflicts within the team just before the World Cup," the source stated. The source also informed that Butt is likely to announce the World Cup captain this week after some more deliberations in New Zealand.He even indicated that Butt was facing pressure from the top over the captaincy issue.Agencies
Dar hopes int’l cricket’s return LAHORE: Pakistani umpire Aleem Dar has called on the country to be patient as it awaits the return of international cricket. Pakistan have not hosted an international cricket match since March 2009 when the Sri Lankan team was attacked in Lahore before being stripped of the World Cup hosting rights, the event that starts next month in India, Sri Lanka and Bangladesh. However, Dar, one of the umpires on the Elite Panel of the International Cricket Council (ICC), remained confident of the return of international cricket.
“Its really unfortunate for Pakistan that it is currently completely isolated,” Dar told The Express Tribune. “I understand that it’s a big drawback for our players and match officials which is discouraging.” “But I am hopeful that the time will come and Pakistan will be able to hold its games in the country instead of playing its home series away but we need to be patient.” Dar, who won the David Shepherd Trophy for the second time in two years after being named Umpire of the Year at the
ICC Awards last year, has officiated in 63 Tests, 138 One-Day Internationals and 18 Twenty20s. But the 42-year-old is yet to officiate a Test in Pakistan as his appointment to the panel came after the introduction of neutral umpires for cricket’s longest format. ‘Honour to officiate World Cup’ Dar, who has been involved in numerous high profile matches and is one of the most respected umpires at the international front, said it will be an honour to officiate in his second World Cup.-Agencies
CM’s Sports Cup afoot LAHORE: The 2nd Chief Minister's sports Competitions continued on Friday at Dera Ghazi Khan, Rawalpindi, Attock, Bahawalnagar and Gujrat. In Gujrat the final boy's Athletics were held at Government Zamindar college ground,Gujrat and 100M and 200M races were won by Asad Ullah from Government Abdul Haq college Jalalpur Jattan. Afzal Ahmed from Government Zamendar College Gujrat won the 400M race and shot put events. The winners in 1500M race was Muhammad Asim Attari from Government Degree College Sarai Alamgir. The 400x4 M race winner was Government Zamindar College Gujrat. Government Degree College Sarai Alamgir won the football final. At Attock in boys final Athletics competitions were won by Government boys college Attock while Government boys college Fateh Jang was considered runner-up. In Rawalpindi, Government post Graduate College Asghar Mall Rawalpindi was victorious for final boys Athletics competitions.-APP
DOHA: Manchester United's manager Alex Ferguson attends a news conference at the Sports Congress and Exhibition at Aspire Dome in Doha. Reuters
MELBOURNE: Andy Murray of Britain returns against David Ferrer of Spain during their men's singles semi-final match on the twelfth day of the Australian Open tennis tournament.-Reuters
PCB sends ICC report on Amir's match status LAHORE: Pakistan Cricket Board has probed the alleged participation of suspended cricketer Mohammad Aamir in a match in Rawalpindi and submitted a report to the games ruling body,the ICC on the matter. " The match that Amir bowled in was an unofficial match between two club sides that are not registered with the Rawalpindi Cricket Association. It was also found that no PCB official was present at the venue when the player took part in the game. Furthermore the team sheets prepared prior to the match did not contain Amir's name nor was his name listed with any team participating in the tournament. This game was not part of any official tournament",said a spokesman of PCB here on Friday. PCB has again advised all Regional bodies to ensure strict compliance of the ICC directives regarding the status of the three suspended players,he added.-APP
Playing CWC, a dream come true, says Misbah KARACHI: Veteran batsman Misbah-ul Haq, one of the prime candidates who is in the fray to lead the Pakistan side in the forthcoming World Cup has said that playing in the mega event would be a dream come true for him.Misbah, 36, who has never played in World Cup and is currently the captain of the Test team said that taking part in a World Cup tournament feels playing in the showpiece event is a dream for every cricketer."It`s an absolute honour for any professional cricketer to play in a World Cup," Misbah told a website."It`s the unquestionable pinnacle for any cricketer and I can`t wait for the tournament to start." Misbah is seen as one of the main rival to lead the national team in the World Cup starting from February 19 although flamboyant allrounder Shahid Afridi remains the one-day captain and is leading them in the ongoing rubber in New Zealand.The right-hand batsman said that he was fully prepared and ready to take part in the World Cup. "The rest is up to the team
management. If they feel that I have a role in the side and they think that I can contribute, then I will certainly not let anyone down," Misbah said."It`s always been my heartfelt wish to play in a 50 over World Cup and I am certain that I can perform well during the upcoming tournament," he added.Pakistan are placed in Group A alongside Australia , Sri Lanka, New Zealand, Zimbabwe, Canada and start their campaign against Kenya on 23rd February in Hambantota. Ironically, Misbah lost his place in the national one-day side last year for the last three one-day internationals against South Africa in the UAE because of poor form the same question now being raised about Shahid Afridi. But the senior batsman`s Test form in recent series has been superb and he has scored half centuries in all of his last six innings and he backed that up with a 50 in a low scoring first one-day international at Wellington as well when Pakistan was bowled out for just 124 runs.-Agencies
Australian Open Tennis Championship
Murray through to final Monitoring Desk MELBOURNE: Andy Murray will get another chance to end a near 75-year winless streak for British men in Grand Slam singles tournaments after beating Spain's David Ferrer 4-6, 7-6 (2), 6-1, 7-6 (2) Friday to reach the Australian Open final. The semifinal win put Murray into Sunday's final against Novak Djokovic of Serbia, the 2008 champion who holds a 4-3 edge in head-to-head matches. Murray, however, has won the last three. No British male has won a Grand Slam singles title since Fred Perry in 1936 -- more than
270 Grand Slam tournaments ago. The drought endured through British hopes including Tim Henman and most recently by Murray in last year's straightset loss to Roger Federer at Melbourne Park. Federer is gone from this tournament, beaten by Djokovic in the semifinals. Top-ranked Rafael Nadal, who was trying to win his fourth straight Grand Slam tournament, is gone too. He was hobbled by a thigh injury in his quarterfinal loss to Ferrer. Friday night's semifinal was filled with long rallies and plenty of booming forehands that just cleared the net. Murray
mixed it up enough at times that his looping lob on break point at 4-1 in the third set went high over seventh-seeded Ferrer's head, allowing the Spaniard to only watch as the ball bounced meters inside the line. "My body was feeling it a bit at the end," said Murray. "Both of us did a lot of running." The Murray match was so popular Friday in Britain -- late morning and early afternoon there -- that it crashed the British Broadcasting Corporation's website server's live footage. "Change of server for our website in face of high traffic ... Love a change of server -means we're doing something
right!" said a Twitter message from a BBC Sport's website editor. Ferrer won the first set by breaking Murray's serve in the 10th game, and had a set point to go up 2-0 in the second. But Murray saved it and levelled at 5-5. The two exchanged service breaks in the next two games to send the second set to a tiebreaker, which Murray led 6-0 and easily prevailed. Murray says he and Djokovic are good friends and often train together. "I think experience-wise we are similar," Murray said. "There won't be any secrets with our games but it's going to be a bru-
tal match." Earlier Friday, the top-ranked team of Gisela Dulko of Argentina and Italian Flavia Pennetta rallied from a set and 41 down to beat Victoria Azarenka and Maria Kirilenko 2-6, 7-5, 6-1 for the women's doubles title. It was the first Grand Slam title for the Dulko-Pennetta combination, who made it to the quarterfinals at all the Grand Slams last year and the Wimbledon semifinals. Dulko and Pennetta, ranked No. 1 and No. 2 among doubles players, were already up a break in the deciding set at 3-1 when they broke again when Kirilenko
netted a backhand. They held in their next service game, then broke Azaranka and Kirilenko again to close out the match. Kim Clijsters, who will play the women's final Saturday against Li Na of China, thinks that 2011 will "probably" be her last full year on the tennis tour. When asked Friday if the Australian Open women's final could be her last appearance at Melbourne Park, the 27-year-old Clijsters replied: "Yeah, it is." "I know this is probably going to be my last full season on the tour, and then we'll see," Clijsters said ahead of Saturday's final against China's Li Na.
Saturday, January 29
Consumer spending, trade buoy US economy in Q4 WASHINGTON: The U.S. economy gathered speed in the fourth quarter to regain its prerecession peak with a big gain in consumer spending and strong exports, removing doubts about the recovery's sustainability. The economy grew at a 3.2 percent annual rate in the final three months of 2010, after expanding at a 2.6 percent pace in the third quarter, the Commerce Department said on Friday. It would have grown 7.1 percent if businesses had not put the brakes on rising inventories, although economists said that the rise in domestic and foreign demand -- the biggest in more than 26 years -- would be shortlived. Purchases by U.S. consumers and businesses advanced at a more moderate 3.4 percent rate, a pace unlikely to knock the Federal Reserve off track from efforts to support growth. "The conclusion is the economy appears to be self-sustaining," said Fred Dickson, chief market strategist at The Davidson Cos in Lake Oswego, Oregon. U.S. stocks were slightly weaker while prices for U.S. government debt rose and the dollar was mixed. Economists had expected GDP to rise at a 3.5 percent rate in the fourth quarter, but the composition of growth gave the report a robust tenor. For the whole of 2010, the economy grew 2.9 percent, the biggest gain since 2005. The economy contracted 2.6 percent in 2009. Consumer spending, which accounts for more than twothirds of U.S. economic activity,
grew at a 4.4 percent rate in the final three months of last year -the fastest pace since the first quarter of 2006. It added 3.04 percentage points to GDP growth, its largest contribution in more than four years. Consumers are taking note of the improving economic picture. The Thomson Reuters/University of Michigan's consumer sentiment index rose to 74.2 from 72.7 early this month, a separate report showed. Support to growth during the fourth quarter also came from a pick-up in exports, which resulted in a narrower trade deficit. Trade added 3.44 percentage points to GDP growth, the first contribution in a year, and the biggest since 1980. World leaders have counted on stronger U.S. exports to help rebalance the global economy. But economists said the sharp contraction in the trade gap was unlikely to last. The contribution from trade helped offset the drag from business inventories, which increased a mere $7.2 billion after a $121.4 billion rise in the third quarter. Inventories, which had been the main driver of growth since the start of the recovery in the second half of 2009, subtracted from GDP growth for the first time since the second quarter of that year. "When you have this level of sales without an increase in inventory, there is further room for an increase in production," said Richard DeKaser, an economist at The Parthenon Group in Boston. Even with growth quickening, progress reducing unemployment has been painfully slow, and the report is little comfort for
unemployed Americans or U.S. central bank officials on a jobscreation vigil. On Wednesday, Fed officials voiced concern the pace of the recovery was still not strong enough to significantly lower unemployment and reiterated a commitment to a $600 billion stimulus effort through the purchase of government bonds. The jobless rate has been stuck above 9 percent since May 2009. With the economy's growth potential between 2.5 percent and 2.7 percent, analysts say an expansion rate of at least 3 percent over several quarters is needed to cope with new entrants in the labor market and the unemployed. The unemployment rate fell to 9.4 percent in December from 9.8 percent in November. Treasury Secretary Timothy Geithner said on Friday confidence was growing that the economy was heading for a sustainable expansion but the reduction in unemployment would still be tragically moderate. Business spending on equipment and software notched its seventh straight quarter of growth, though the pace slowed to 5.8 percent from 15.4 percent in the prior quarter. Although businesses have been hesitant to hire, they have used their vast cash reserves to buy new equipment and upgrade their technology. Investment in home building and nonresidential structures were surprise additions to growth in the fourth quarter. Home construction grew at a 3.4 percent pace, while structures expanded at a 0.8 percent -- the first growth since the second quarter of 2008.-Reuters
Slip in euro zone lending dampens inflation talk FRANKFURT: Lending to euro zone firms saw a surprise dip in December, adding an extra layer of complexity to hopes the region's economic recovery is gaining traction and to the intensifying debate about rising euro zone inflation. European Central Bank figures published on Friday showed loans to firms fell 24 billion euros in the month, following an 8 billion euro rise in November, leaving them 0.2 percent weaker than at the same time a year ago. Loans to the private sector overall were up 1.9 percent over the year, but the number was well under economists' expectations of a 2.2 percent improvement and down from the 2 percent gain recorded in November. ECB policymakers have sounded increasingly aggressive on inflation over the last month after euro zone data showed a jump to 2.2 percent in December, the first time in two years it has exceeded the ECB's preferred level of just under 2 percent. Economists said the latest data could help calm growing unease within the bank, but also that the downturn in lending growth should not be seen as a cause for concern and was unlikely to last. "This data could help the ECB dampen inflation expectations at the next meeting, supporting the view it will stay at in line with their target." said DZ Bank economist Philipp Jaeger. "The 1.7 M3 reading is still low, so we won't see any real price pressure in the medium term. The euro zone inflation rate will be excessively driven by oil and commodity prices, but I am optimistic that core inflation will remain moderate."-Reuters
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raw furnace oil (RFO), lower power tariff for coal-fired power plants, and better socio economic development in Thar region. It will also lead to skilled job creation and transfer of technology as well. Director Mineral and Natural Sources Azhar Khan said that Thar coal field in Sindh is spread over more than 9000 sq km and is bestowed with 175 billion tons of lignite coal, which can fuel power generation of over 100,000MW for more than two centuries. EDG Board of Investment Humayun Khan Sikandari informed that Thar coal field has been declared SEZ, and the government has also announced Corporate Income Tax Holiday of 5 years and 10 years for the developers of the zone. About Kingho Group, through years of effort, has achieved a diversified but integrated development pattern which is composed of coal mining, washing & sorting, production, transportation, and sales of coal, together with iron ore mining, chemical metallurgy, salt chemicals, building materials, logistics, and hotel/tourism businesses. China Kingho Group being the largest private group has a manpower of 64,000 and possesses 22 billion tonnes of reservoirs of coal and 800 million tonnes of iron ore.-Online
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Rehman Malik further said that the issue is a provincial government subject and we are not interfering in it. He said that the investigation agencies are probing the issue thoroughly.-APP
11
International & Continuation
, 2011
US, Japan told time running out to deal with debt TOKYO: Japan and the United States faced new pressure to confront their swollen budget deficits as the IMF and rating agencies demanded more evidence they can bring their public debts under control. The International Monetary Fund said the G7's two biggest economies needed to spell out credible deficit-cutting plans before the markets lose patience and dump their bonds. On Friday, Japan's Prime Minister Naoto Kan vowed to push ahead with tax reforms aimed at curbing the country's debt, but an uncooperative opposition and divisions within his own party on policy make the chances of success slim. "The important thing is to maintain fiscal discipline and ensure market confidence in Japan's public finances," Kan, who took over in June as Japan's fifth premier since 2006, told parliament's upper house. Ratings agency Standard & Poor's cut Japan's long-term debt rating on Thursday for the first time since 2002, and hours later Moody's Investors Service warned the risk of the United States losing its top AAA rating, although small, was rising. Bond markets reacted calmly, but the latest warnings about the colossal liabilities piled up by the two countries raised fears of rising borrowing costs that could hamper attempts to restore fiscal discipline and consolidate a fragile recovery. "In advanced economies where fiscal sustainability has not been a market concern, credible plans going well
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cuts in the United States and increased spending in Japan had set back progress in rich nations more generally. Ratings agencies fretted that politics is making reining in the deficit harder for both countries. Moody's worried that a U.S. Congress where the Republican now control the House of Representatives might fail to consider and pass some of the deficit-reducing measures proposed by a panel mandated by Democratic President Barack Obama. S&P, which cut Japan's longterm sovereign rating to AA minus, voiced similar concerns about Tokyo. "In our opinion, the Democratic Party of Japan-led government lacks a coherent strategy to address these negative aspects of the country's debt dynamics, in part due to the coalition having lost its majority in the upper house of parliament last summer," the agency said. The debt fears hanging over much of the developed world underlined the two-speed recovery from the financial crisis, which has seen emerging economies rebound strongly, especially in Asia, while the traditional powers struggle. "People are realizing that emerging markets are not as dangerous as other places, in light of what has happened," Mark Mobius, chairman of Franklin Templeton's Emerging Markets Group, told Reuters in Singapore. "Emerging markets are still cheaper than developed markets despite the run up, and we see continuing flows into emerging markets."-Reuters
UK recovery likely to be slow-finance minister
retary of state for South Asian affairs, said on Jan. 19. However, analysts are skeptical as financing and security, which have derailed the project, remain key concerns. The implementation of the pipeline seems a distant possibility due to security concerns and disagreement on pricing, Dayanand LONDON: Britain faces a Mittal, an analyst at Mumbai-based Anand Rathi Securities, said "particularly acute" challenge compared with other European in a Jan 5 note.-Online countries in rebuilding its econContinued from page 1 No #6 omy and recovery is likely to be differential for 2nd installment, for six months ending on 31st slow, finance minister George December 2010, has been worked out at 5.32 per cent. Osborne will say on Friday. Banks/DFIs have been advised to submit duly completed claims Osborne's message at the at SBP-BSC (Bank), Peshawar for reimbursement for the period World Economic Forum in 01-07-2010 to 31-12-2010 latest by February 28, 2011. However, Davos will be echoed by Prime MFBs may claim markup rate differential to the extent of 22.5 per Minister David Cameron who cent per annum i.e. differential between 7.5 per cent per annum will tell business leaders in the and Weighted Average Lending Rates of MFBs i.e. 30 per cent per Swiss ski resort that Britain annum or actual rate whichever is lower, the Circular added. must persist with tough spending cuts to curb an "unsustainContinued from page 1 No #7 able" budget deficit. scheduled to be completed by September, 2013. The power crisis Cameron and Osborne have has crippled industry, and frequent power outages, lasting up to 18 hours in some rural areas, led to violent protests last year.-Reuters
government takes loans from banks and returns it in a period of three months. She added that total taxpayers in the country stand Continued from page 12 at around 3.4 million. She further informed that particulars of the No #3 On successful completion of field trial of three months of these taxpayers cannot be made public under the prohibitive provision locomotives on Pakistan Railways network, Pakistan railways of section 216 of the income tax ordinance 2001 adding there is would finalise the demand of remaining 44 locomotives along no proposal to publish a tax directory. Federal Minister Syed Khurshid Shah told the house governwith one year's performance guarantee and five 5 years technical support. Once the cost per locomotive would be determined ment did not intend to import raw sugar as it would not be in national interest as around 45,0000 tonnes of sugar stocks were through negotiations, Korean Joint Venture would consider deferred payments for a period of eighteen months after the loco- available in the country.-Agencies motives had been put into operations on Pakistan Railways netContinued from page 12 No #9 work. It may be mentioned here that Pakistan Railways has Strict security measures were taken by the provincial governalready purchased locomotives from China in the past and is also ment. Barricades were placed in the street leading to the residence considering the purchase of further locomotives from China for of Shahzain Bugti and no one was allowed to meet him. strengthening the Railways system in the country.-APP DIG Amir Shakeel was personally overseeing the situation while Frontier Constabulary and police officials were deployed at Continued from page 1 No #4 suspect the mental health of all the officials who awarded various sensitive points to avert any untoward incident. Talking to media persons, Bugti said that the long march to Dera licenses to the foreign companies in 1993 like gifts in a basket". The case was deferred till January 31. Meanwhile the Supreme Bugti would not be put off despite his house arrest and he would Court maintained that the number of missing persons is rising and lead the march after Friday prayers. "No one can stop us from the involvement of intelligence agencies is clear through evidence leading towards Dera Bugti," the JWP leader said. "We have never attacked security forces nor will we do so in in this regard thereby making it easy to trace to the accused. According to a private TV, a 4-member bench, headed by future but we should be given our due right within the constituJustice Javed Iqbal, heard the missing persons' case. During the tional limits," he said. Shahzain Bugti at a press conference hearing, secretaries, Ministries of Interior and Defence also Thursday said that the convoys will move from Quetta, Lahore appeared before the bench and apprised the court of the progress and Karachi to meet at Kashmore for onward march to Dera made into the issue. Secretary Defence Lt Gen Athar Ali (Retd) Bugti.-Agencies told the court that the agencies were cooperating with the Judicial Continued from page 1 No #10 Commission and the SC in the recovery of missing persons and up Finance about 6 months ago for the appointment of a full time till now 96 people have been recovered with their help. Interior Secretary Qamar Zaman was of the view that the coun- CEO for Pakistan Steel. So the summary for the appointment of try was engulfed in the terrorism wave and everyone knew the a full time CEO for Pakistan Steel is lying pending with the case of Hassan Shirjeel whose father declared him missing while Ministry of Finance.-APP he was with the extremists. Justice Javed said two more applicaContinued from page 1 No #11 tions have been received about the missing persons adding that abandoned wells as well as for setting up captive power plants not everyone could come to the Supreme Court. The court ordered for selected industrial zones and areas. In the presentation on the the Attorney General to present before the court the proof against progress made on Zulfiqarabad city project given by the Advisor police and agencies regarding the said case. The hearing was to CM Sindh Fazl-ur-Rehman, the meeting was informed that 1.3 adjourned till February 03. NNI million acres of land had been made available in four Talukas for the new city. The President advised that international bids be Continued from page 1 No #5 inter-governmental agreement and a deal on measures to imple- floated urgently and bidders selected for the master planning of ment the project was signed in December. The governments will the new city. The international bidder thus selected should also be now start discussions on pricing and transit terms. "The road tasked to propose the site for first phase of new city for developahead is long for this project, but the benefits could be tremendous ment, he said. The President remarked that early implementation and are certainly worthy of the diligence and interest demonstrat- of the proposed city project was necessary to reduce congestion in ed by these four countries so far," Robert Blake, US assistant sec- the main cities of Sindh.-NNI
beyond 2011 need to be put in place urgently to lock in benevolent market sentiment," the IMF said in its "Fiscal Monitor" report. The 2007/08 financial crisis prompted a dramatic rise in developed world debt, as governments spent billions of dollars propping up sinking economies and bailing out stricken banks. In the United States, outstanding public debt has ballooned to more than 60 percent of total output since the financial crisis, and, with a record $1.5 trillion budget deficit expected this year, is set to grow further. Japan is in an even worse position. Its debt has been growing for years as it tried to revive the economy from a huge asset bubble burst in the 1990s and outstanding longterm government debt now stands at around 180 percent of GDP. Kan has made tax and social security reform, including a future rise in the 5 percent sales tax, a priority given the rising costs of Japan's fast-ageing society and a public debt that is the biggest among advanced nations. Kan needs help from opposition parties to pass broad reforms and to enact a record $1 trillion budget but analysts said the ratings downgrade may prove to be a wake up call to lawmakers and so garner support for his cause. In Europe, where Greece and Ireland have been driven by bond market pressure to take bailouts, many governments have adopted austerity measures to cut their deficits. But the IMF said new tax
No #12
faced down calls from the opposition Labour Party to ease its austerity measures after data this week showed a shock 0.5 percent contraction of the economy in the final quarter of 2010. Osborne will say that many European governments face the challenge of fostering sustainable growth. "As this week's growth figures demonstrate, the challenge is particularly acute in the UK," he will say, according to excerpts released in advance by his office. "Over the last decade our
economy became perhaps the most extreme example of any major economy of the dangerous imbalances that now need to be unwound," Osborne will say, citing Britain's housing boom, indebted households and high budget deficit. "Recoveries from this kind of debt-fuelled boom and bust tend to be slower and more protracted than those from other kinds of recession," he will say. But giving in to calls for more government spending would lead to "even greater disaster down the line".-Reuters
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Assembly Faisal Karim Kundi, Syed Alla-ud-din, Malik Azmat, Lal Mohammad Khan, Syed Akhunzada Chitan, and Senator Sardar Ali. War against militancy, developmental projects in the province and issues related to their constituencies were discussed during the meeting. Discussing political situation, the President said that the PPP Government having firm conviction in the principles of the democracy was following the policy of reconciliation and taking its all partners/allies along in all the matters of national importance. He said that the challenges the present government inherited were huge and demand consensus-based responses. The President said that we believe in respecting and honouring the legitimate wishes of the people and that is why PPP offered full support on the issue of renaming of NWFP as Khyber Pakhtunkhwa. He said that changing of the status of Kala Dhaka from a Provincially Administered Tribal Area (PATA) to that of a settled area was yet another manifestation of real meanings of democracy and the representative government. While discussing war against terror, the President said that the scourge of militancy has pushed the province backward by completely halting the socioeconomic development of the region. He said that the Government was trying its best to compensate for the past negligence of socio-economic development of the people of Khyber Pakhtunkhwa and that of people of the tribal areas by focusing on provision of new vistas of opportunities, both economic as well as political, in order to bring the people of these area into the mainstream, on one hand, and to wean away the frustrated and unemployed youth from militancy and extremism, on the other. He said that the war that the war waged against militancy was a long drawn battle which will continue till the country was free of militants and extremists. The President said that the sacrifices made by the people of the area were immense and will never go waste.-Online
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for the same period last year. NRL- posted a whopping increase of 172 per cent in profit after tax to Rs 3.13 billion against Rs 1.15 billion in 1HFY11. The earning per share of the company remained at Rs 39.22 as against Rs14.43 in 1HFY10. Sales increased by 40.8 per cent to Rs 48.11 billion from Rs 67.73 billion during the period under review. Similarly, gross profit increased significantly by 105 per cent to Rs4.62 billion as against Rs 2.25 billion for the corresponding period last year. Gross profit margins significantly increase to 6.8 per cent as against 4.7 per cent during the corresponding period last year. Net margins surge to 4.6 per cent during the period, mainly due to higher GRMs. On the other hand, ATRL also announced profit after taxation of Rs1.5 billion versus loss after taxation of Rs 210 million for 1HFY10. Earning per share worked out to Rs17.61 as against loss per share of Rs2.46 for 1HFY10. Net sales for the period surged by 28.2 per cent to Rs50.61 billion from Rs39.47 billion enabling the Company to post gross profit of Rs946 million as against gross loss of Rs611 million for the same period preceding year.
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production forecast as an excuse to dump the counter. The stock tumbled 7 per cent, its biggest single-day drop since December 2008. SHANGHAI EDGES UP, VOLUME LIGHT China's main stock index ended marginally weaker at around 2,753 points as gains in small-caps offset weakness in property and financial issues, which came under selling pressure after China launched its first-ever property tax. "Although the index has bounced up these several sessions, thin volume shows little potential for a further rise," said Wen Lijun, an analyst at Nanjing Securities. The property sub-index dropped 0.1 per cent, but trading was volatile with the index moving in and out of negative territory. Still almost all 37 financial issues fell on concerns over the property sector's outlook, with Hua Xia Bank falling 1.8 per cent and Industrial Bank down 1.8 per cent. Reuters
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TIP leader speaks at World Economic Forum in Davos
Afghan war radicalising region: Imran It's the biggest disaster for US, Pakistan DAVOS: Former cricket star turned politician Imran Khan has criticised the war in Afghanistan, saying that is causing 'radicalisation' that would be disastrous not only
for the people of the US, but also of Pakistan in a bigger way. "This war on terror is a disaster for the people of the US. It's a bigger disaster for the people of Pakistan. It is causing more radicalisation, more polarisation in the society. The war is perceived by the vast majority as a war against Islam and because it is perceived as a war against Islam there is no short-
age of people willing to die for it," Khan, who has been working the corridors of the World Economic Forum in Davos said according to a press release. Expressing pessimism about the prospects for the war in Afghanistan to succeed, the leader of the Tehreek-e-Insaf party also said that the situation in Pakistan has become worse in the past few years.
He singled out the recent assassination of provincial Governor Salman Taseer, who was shot by a bodyguard opposed to his relatively liberal views, and linked it to the increasing radicalisation in the society. Khan said Taseer had called for leniency in the case of a Christian mother sentenced to death under the blasphemy law, which he opposed. In the
wake of his assassination, people have come out and staged protests in support of his confessed killer. "The Governor being killed for something so trivial. Before 2004 his statement wouldn't have even made the newspapers, and he ends up getting killed, and the killer becomes a hero. That shows how radicalised society has become," Khan added.
He said this high-profile case is not the first example of a frightening trend in Pakistan, and added that al Qaeda has been benefiting from this kind of chaos. "Things are much worse in Pakistan than in Tunisia. Every now and then you have riots in Pakistan --not at the same level, but you get the feeling that any time something could happen," he added.
He claimed that the protracted nature of the war, and the fact that Afghanistan is still lacking in development, has created a condition that has eventually evolved into "a Pashtun struggle". Fifteen million Pashtuns in Afghanistan and 25 million in Pakistan, and the tribal belt has got involved, so the original aim of the war was lost," he said.-Online
Army called, curfew imposed; ElBaradei joins anti-regime protests
Egyptians evidence they’re no ‘mummies’ KARACHI: PM Syed Yousuf Raza Gilani is being welcomed by Governor Sindh Ishratul Ebad and CM Sindh Qaim Ali Shah at Jinnah International Airport. -Online
Contract services of 11 special persons regularised
Cabinet-cut to be constitutional: PM KARACHI: Prime Minister Syed Yousuf Raza Gilani on Friday again made it clear that Federal Cabinet will be reshuffled according to Constitution. Prime Minister expressed these views while talking to a host of journalists after meeting with the Head of PML-F Pir Pagara at the Kingri House in Karachi. To a question, PM said that he doesn't want to comment on Karachi operation. I have come to Karachi to meet Pir Sahab Pagara to take guidance from him adding he respects him for his sheer wisdom, PM underlined. Gilani added that corruption is a disease and needs to be exterminated by collective efforts of judiciary, legislature, and administration. In response to volleys of question, PM said government believes in politics of reconciliation rather than vengeance adding federal cabinet will be reshuffled according to the law.
Meanwhile Prime Minister approved the regularisation of the contract services of eleven special persons working in the Ministry of Social Welfare and Special Education. These eleven persons include Muhammad Jahanzeb, Muhammad Sarfraz Nawaz, Umar Daraz, Syed Tayyab Hussain, Zeeshan Abbasi, Muhammad Mudassar, Akhtar Ali, Ester Jane, Rizwana Shahid, Shahana Shahid and Manzoor Khan. It may be recalled that the PM has already issued directions to the Ministry of Social Welfare and Special Education to take necessary measures for regularisation of the services of all special people working in the Government organisations/ Autonomous Bodies/Authorities on contract basis. Similarly the provincial governments were also asked for similar actions.-APP
Phoned no one to free held US diplomat : Malik
Malik offers B’stan briefing in camera ISLAMABAD: Federal Interior Minister Rehman Malik has expressed his willingness to brief the parliament in camera on security situation of Balochistan admitting the plight over there was really grave. He was talking to the National Assembly session held Friday here in the parliament house. During the question hour parliamentarians highlighted the issues of Balochistan security situation and the killings committed by the US consulate worker in Lahore. On a point of order, Abdul Qadir Baloch said parliamentarians are not given any opportunity to discuss Balochistan issue and circumstances over there are alarming. He said target killing in Balochistan has become a routine, but no effective measures have been taken in this regard. Similarly, extra judicial
CAIRO: Tens of thousands of anti-government protesters poured into the streets of Egypt Friday, stoning and confronting police who fired back with rubber bullets and tear gas in the most violent and chaotic scenes yet in the challenge to President Hosni Mubarak's 30-year rule. Even a Nobel Peace laureate was soaked by water cannon and forced to take refuge in a mosque. Groups of thousands of protesters, some chanting "out, out, out," gathered at at least six venues in Cairo, a city of about 18 million people, and many of them were on the move marching toward major squares and across Nile bridges. Security officials said there were protests in
at least 11 of the country's 28 provinces. It was a major escalation in the protests that began on Tuesday to demand 82year-old Mubarak's ouster and vent rage at years of government neglect of rampant poverty, unemployment and rising food prices. Security officials said protesters ransacked the headquarters of Mubarak's ruling party in the cities of Mansoura north of Cairo and Suez, east of the capital. Internet and cell phone services, at least in Cairo, appeared to be largely cut off since overnight in the most extreme measure so far to try to hamper protesters form organising. However, that did not prevent tens of thousands
from flooding the streets. Police fired water cannons at one of the country's leading pro-democracy advocates, Nobel Peace laureate Mohamed ElBaradei, and his supporters as they joined the latest wave of protests after noon prayers. They used batons to beat some of ElBaradei's supporters, who surrounded him to protect him. A soaking wet ElBaradei
was trapped inside a mosque while hundreds of riot police laid siege to it, firing tear gas in the streets around so no one could leave. Tear gas canisters set several cars ablaze outside the mosque and several people fainted and suffered burns. "We are the ones who will bring change," said 21-year-old Ahmed Sharif, one of scores who were with ElBardei. "If we do
nothing, things will get worse. Change must come," he screamed through a surgical mask he wore to ward off the tear gas. Abeer Ahmed, a 31year-old woman who showed up for ElBaradei with her toddler, said she has a law degree but makes a living cleaning homes. "Nothing good is left in the country," she said. "Oppression is growing." In the upscale Mohandiseen neighborhood, at least 10,000 were marching toward the city center chanting "down, down with Mubarak." The crowd later swelled to about 20,000 as they made their way through residential areas.-Reuters
Chinese miner bent on Thar coal ISLAMABAD: A Seven member delegation of China Kingho Group headed by Executive Vice President Ma Xiaomin, visited Board of Investment to explore investment opportunities in Pakistan in coal sector especially the development of coal fields of Thar/Badin. Minister of State/Chairman Board of Investment Saleem H Mandviwalla while talking to the Chinese businessmen stressed that in order to sustain economic growth, Pakistan needs to develop its indigenous energy resources rapidly. Proposed investment in development of Thar coal mines will provide benefits like strategic energy resource, import substitution of expensive See # 1 Page 11
killings also need to be stopped. Interior Minister while replying to the point of order said Abdul Qadir Baloch's findings are right. He clarified that government is not responsible for all this. Malik proposed in-camera briefing in the parliament on this issue saying whatever was going on there in the largest province of Pakistan was a conspiracy to destabilise the country and divide Balochistan. Moreover Interior Minister also made it clear that he made no phone call for the release of US diplomat, involved in a dramatic shoot-hit-run incident, which claimed lives of three people in Lahore on Thursday. He said this on a point of order giving a policy statement. He said that the American diplomat is in Punjab police's custody. QUETTA: Provincial See # 2 Page 11 President of the Jamhoori Watan Party Nawabzada Shahzain Bugti has been detained in the Bugti House Quetta under Maintenance of Public Order (MPO) by the provincial government Power Locomotives to Pakistan on the night before Railways at an attractive price. Friday. Prior to the commencement of the Balochistan Home pilot project a Memorandum of Department has issued Understanding (MoU) will be signed the orders in this regard. between the Ministry of Railways and The action was taken on Korail, a Korean Company on behalf of the eve of a long march the two governments, he told. to Dera Bugti slated to Initially, a pilot project of six loco- begin on Friday. motives would be started for conver- However, he has vowed sion of bogie truck from Standard to lead the long march at Gauge to Broad Gauge. any cost. See # 3 Page 11 See # 9 Page 11
Shahzain under house arrest
PR giving thought to get used SKorea locos ISLAMABAD: Pakistan Railways is considering to purchase used General Motors 3000 Horse Power Locomotives from South Korea to meet the shortfall of locomotives in the country. According to a senior official of the Ministry of Railways, the proposal to purchase 50 used locomotives from South Korea is under consideration and almost at final stage as the Korean Railways is also interested to supply used General Motors 3000 Horse
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