International Karachi, Saturday, October 30, 2010, Zul-Qa’dah 21, Price Rs12 Pages 12
Pagara elected as President of Mutahida Muslim League See on Page 12
GDP Growth FY10E Per Capita Income FY10 Population
104.18 54.95 28.15 2532
NCCPL (U.S $ in million)
FIPI (29-Oct-2010) Local Companies (29-Oct-2010) Banks / DFI (29-Oct-2010) Mutual Funds (29-Oct-2010) NBFC (29-Oct-2010) Local Investors (29-Oct-2010) Other Organization (29-Oct-2010)
0.43 0.45 3.65 -0.99 -0.02 -3.35 -0.17
Global Indices Index Close KSE 100 10,598.40 Nikkei 225 9,202.45 Hang Seng 23,096.32 Sensex 30 20,032.34 ADX 2,817.04 SSE COMP. 2,978.83 FTSE 100 5,675.16 *Dow Jones 11,090.45 *Last Updated 20:00 PST
Change 36.59 163.58 114.54 91.30 5.30 13.75 2.73 23.50
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)
$.Price PKR/Shares 2.60 111.50 19.00 162.96 2.00 42.89 1.70 36.45 9.73 33.38
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
12.77% 13.08% 13.22% 13.50% 12.82% 12.99% 13.23% 13.61% 13.71% 13.66% 13.74% 13.84% 14.23% 14.36% 14.52%
20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010
Commodities *Crude Oil (brent)$/bbl 82.83 *Crude Oil (WTI)$/bbl 81.22 *Cotton $/lb 123.65 *Gold $/ozs 1,348.20 *Silver $/ozs 24.24 Malaysian Palm $ 984.90 GOLD (NCEL) PKR 37,052 KHI Cotton 40Kg PKR 8,895*Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 84.03 Canadian $ 84.80 Danish Krone 14.90 Euro 118.50 Hong Kong $ 11.00 Japanese Yen 1.050 Saudi Riyal 22.90 Singapore $ 65.60 Swedish Korona 12.20 Swiss Franc 88.20 U.A.E Dirham 23.30 UK Pound 135.80 US $ 85.95
84.15 85.00 15.30 119.00 11.30 1.076 23.10 65.70 12.70 88.70 23.50 136.00 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
83.71 83.98 15.98 119.21 11.05 1.063 22.87 66.03 12.71 87.07 23.35 136.73 85.77
83.91 84.17 16.02 119.48 11.08 1.066 22.92 66.18 12.74 87.27 23.40 137.05 85.97
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
29°C 33°C 29°C 28°C 19°C 29°C
See on Page 12
$100mn released under CSF so far, remining $750mn in weeks: minister
SCRA(U.S $ in million)
Total Portfolio Invest (22 Oct-2010)
Pak signs loan pact with China for Paksat-IR
l Flood Tax Bill to be tabled soon l More taxes on the rich a must l US founds $300mn Enterprise Fund l $2bn out of $7.5bn to go in energy sector
Portfolio Investment Yearly(Jul, 2010 up to 28-Oct-2010) Monthly(Oct, 2010 up to 28-Oct-2010) Daily (28-Oct-2010)
See on Page 12
Discussed more uplift, less war in US: Shaikh
$16.88bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 170.91mn
Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Aug 10) LSM Growth (Aug 10)
See on Page 12
US envoy defends drone attacks
Pak-US Strategic Dialogue marks a positive agenda change
Economic Indicators Forex Reserves (22-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10)
5 US F-16s arrive today
MIN
11°C 21°C 16°C 15°C 8°C 11°C
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ISLAMABAD: PM Syed Yousuf Raza Gilani called on President Asif Zardari at Aiwan-e-Sadr. FM Qureshi and COAS Ashfaq Parvez Kayani are also present.-APP
President, PM, FM, COAS meeting says no pressure for mily onrush to be entertained
NWA onset, our prerogative: govt ISLAMABAD: President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani have said that Pakistan would itself decide on military offensive in North Waziristan and no external pressure for the same would be entertained at all. The affirmation to this affect was made in a high level meeting presided by President Asif Ali Zardari in which matters related to security and military offensive in North Waziristan were discussed. Prime Minister Yousuf Raza Gilani, Chief of Army Staff General Ashfaq Parvez Kayani, and Foreign Minister Shah Mehmood Qureshi attended the meeting. According to presidential spokesman during the meeting
the outcome of 3rd round of Pak-US Strategic Dialogue, held in Washington from 20th22 Oct, was reviewed and regional situation was discussed at length. Official sources told Online that foreign minister and COAS told President and Prime Minister that important headways were made in the dialogue and Pakistan succeeded in getting more US aid in defence, social, and economic sectors. President and Prime Minister expressed their satisfaction over the positive consequence of dialogue and vowed Pakistan would promote durable and long lasting relations with US while keeping its sovereignty, honor, and respect intact.
Country's top civil executives said that Pakistan is fighting the war against terror/extremism to the best of its capabilities and decision on operation in Waziristan would be made by taking into account the ground realities and given circumstances. COAS informed the meeting that in North Waziristan more than 70,000 troops are present who are conducting targeted operation against the terrorists however due to US drone attacks hatred and anger against US is spreading in the tribal areas like anything. In the meeting the situation in Afghanistan with particular reference to dialogue process of Afghan government with the Taliban was discussed as well. -Online
Govt to buy wheat at Rs950/40kg: ECC
Parliament to take up RGST bill in next sitting
ISLAMABAD: The Economic Coordination Committee of Cabinet (ECC) Friday approved the Rs950 per 40kg wheat support price for 2010-11. The ECC which met here under the chair of Finance Minister Dr Abdul Hafeez Shaikh discussed two-point agenda of wheat support price and a financial package for the flood affected farmers. The ECC decided to extend a loan facility at the interest rate of 8 per cent through banks to the affected farmers -holding more than 25 acres-against 12.5 per cent previously. The meeting was attended by
the minister for food and agriculture, minister for petroleum, and senior officials of the ministries concerned. The ECC also decided to provide a grant of Rs2400 per acre to the farmers/landowners holding up to 12.5 acres in the flood-hit areas and in this regard it was also decided that half of the amount will be paid by the federal government while the rest by the respective provinces. The ECC was informed that federal government is transferring the amount on cash basis while it's up to the provinces to provide the farmers the incentive in the form of cash or inputs.-Agencies
Indians mayn’t sell cotton to Pakistanis ISLAMABAD: Indian traders selling cotton to Pakistan are unlikely to honour most of the deals for nearly one million bales after they failed to get registered with export authorities, industry officials in Pakistan said Friday. Pakistani textile firms were banking on neighbouring India to meet their needs after massive flood damage to the domestic crop caused an estimated shortfall of about 4 million bales. Companies here say cancellation of Indian contracts or even delay will eat into profits of the textile industry, which accounts for about 60 per cent of the country's total exports.
Traders had booked about 1 million bales for delivery from November to January from India, the world's second largest producer, industry officials say. "Eighty per cent of the Indian dealers have said they had not been able to get themselves registered for cotton export," Yasin Siddik, vice chairman of private All Pakistan Textile Mills Association (APTMA) told Reuters. "It means that cotton is not coming. It means cotton in our domestic market will remain short and prices will remain firm." India suspended the online See # 3 Page 11
ISLAMABAD: Secretary Finance Salman Siddiq Friday said that the Reformed General Sales Tax (RGST) Bill would be tabled before the Parliament in the next session. Talking to media here at Parliament House he said that the time frame for the implementation of RGST would be given by the Parliament. He said that policy dialogue with International Monetary Fund (IMF) would be held on Monday and Tuesday during which different aspects would be discussed for improving the economic conditions of the country.-APP
Special Correspondent ISLAMABAD: Finance Minister, Dr Abdul Hafeez Shaikh Friday said that the US would release outstanding $750 million under Coalition Support Fund (CSF) within next few weeks. "Out of US $850 million due under CSF, the US has released $100 million to Pakistan and would be releasing the remaining $750 million in coming weeks," the finance minister told APP. He divulged these facts in an exclusive interview to the state news agency, his first-ever media interaction after his return from Washington where he fought at the economic front in the Pakistan-US Strategic Dialogue. He termed the dialogue as a shift from war-oriented strategies to sustainable development-led policies. He said that in this dialogue the senior leadership stressed
on development and prosperity of people, market access, and US investment in Pakistan. He said that the dialogue was a total variation from previous ones which were usually waroriented. He added that President Barak Obama has lauded the economic policies and reforms process initiated by the incumbent economic mangers of Pakistan. He said that both the leaderships also fixed priorities of spending $7.5 billion aid under Kerry-Lugar Bill with special focus on energy, food security, private sector, and human development. He said that the $2 billion US support would be spent in accordance with the priorities fixed by Pakistan, saying "we will decide where to spend this fund for the welfare of our peo-
Produce details, apex court commands SBP
SC exacts 2 years’ bank loans’ stats ISLAMABAD: The Supreme Court Friday ordered State Bank of Pakistan (SBP) to produce last 2 years' bank loans' record in the court asking the banking regulator to ensure recovery of loans, said media reports. The counsel of SBP Iqbal Haider requested the bench to consider both legally writtenoff loans and intentional default cases. A three-member bench of the apex court, comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil-urRehman Ramday, resumed hearing of a suo moto notice of press reports that the central bank had quietly allowed commercial banks to write off loans, under Banking Companies Ordinance. The SBP convened a meeting of commercial banks and development financial institutions on October 25, 2010 to
devise a strategy in response to the observations made by the SC regarding written-off loans. The meeting, chaired by SBP Governor Shahid Kardar, discussed the relevant issues in detail. The SC on October 20, 2010 had told the SBP to issue directives to all commercial banks to serve notices on all major beneficiaries who got their loans written off from 1971 to 2009. Abdul Hafeez Pirzada, appearing as amicus curiae, said that the SBP had written off loans to support national economy but the institutions did not fulfill their responsibilities. Iqbal Haider told the bench that the new governor SBP was serious in recovering loans. The CJ said that concessions can be given to genuine cases but writing off loans on political bases must be stopped.-Agencies
ple." Shaikh said that a $300 million Enterprise Fund was also established to encourage American businessmen enhance their economic activities in Pakistan. He said that out of $7.5 billion $2 billion would be spent in energy sector to overcome the prevailing crisis. The federal minister said that $2 billion would be utilised for ensuring food security in the country. Special focus would be given to building of new dams and improvement of country's irrigation system, he added. The federal minister said that 1.6 million flood-affected people would be provided Rs0.1 million each under the Watan Card Scheme adding that this would be in addition to what government has so far provided under relief and rescue operation. He also informed the news agency that flood tax bill will be tabled in the Parliament soon. Meanwhile speaking to media finance minister said that more taxes needed to be imposed on capitalists, feudals, and owners of large properties to ensure provision of See # 1 Page 11
CNG sellers in Potohar area stage token strike ISLAMABAD: Gas supply in Potohar region, remained temporarily closed on Friday, due to annual repairs of Zamzama gas fields, forcing closure of 597 CNG stations. Gas load management plan has given rise to drastic demandsupply situation, while CNG Association observed a complete token strike over government decision to close stations for 2days. CNG outlets in Chakwal, Jhelum, Attock, and Peshawar, remained closed on Friday and will not open of Saturday as well (today) due to the strike. The consumers are suffering big time and see no respite anywhere near. Taking advantage of the situation public transporters have started minting money by overcharging the poor commuters. Speaking on the issue, the president CNG Association, See # 2 Page 11
2
Saturday, October 30, 2010
PTA named best telecom regulator Staff Reporter KARACHI: Pakistan Te l e c o m m u n i c a t i o n Authority (PTA) has been declared most progressive telecom regulator in South Asia for the year, while Chairman PTA Dr Mohammed Yaseen has been recognised as best telecom regulatory leader of the Year. South Asian, Middle Eastern and North African ( S A M E N A ) Te l e c o m m u n i c a t i o n Council conferred these awards in its award cereKARACHI: Sindh Chief Minister Syed Qaim Ali Shah called on Governor Sindh mony held at Casablanca. Dr Ishratl Ebad Khan governor House.-APP It announced awards in different categories for top Fake cheques to the underage child camel jockeys performers amongst its member countries. Pakistan has received these awards in recognition of its competitive regulatory environments across the Region and unprecedented Staff Correspondent growth shown by the telecom sector of Pakistan. LAHORE: Carmela Chairman PTA won award in individual category Conroy, Consul General of while PTA won Best the United States of Shiraz Ahmed far-flung areas of Dera fake cheques parents even Performance award in America, Lahore along Ghazi Khan and Rahim in some cases to human Regulators awards. with Jessica Berlow Economic Officer KARACHI: Chairman Yar Khan, said that he also traffickers instead of chilAnsar Burney Trust has the evidences that dren parents. He demandConsulate of USA, Lahore paid visit to Pakistan International and former most of these children ed an immediate enquiry federal minister for were not going to school in this matter. Tanners Association He claimed to have Khurshid Alam, Human Rights, Ansar and being sent to that in the Chairman, Pakistan Burney, has requested the 'Madrassa' where they proof Court of were being continuously 'Madrassa' of Kharasa'n Tanners' Association Supreme Colony in Liaqatpur one accompanied the envoys Pakistan to take suo moto sexually abused. He said that despite the of the teachers was caught along with Vice Chairman, action against the federal handed while PTA (Central) Fawwad and provincial govern- Supreme Court's order to red Shafi, Central Executive ments that issued fake give money, which was sodomising an underage cheques to the underage given to Pakistan by the jockey boy in the but Committee Members and KARACHI: Christos special invitee members child camel jockeys, who UAE government, to the nothing happened. returned from Middle parents of these children Burney said that after Papadopoulos, Regional were also present. Chief Executive Officer Eastern countries. for their (children) reha- being abused these chilThe Chairman, PTA, Ansar Burney visited the bilitation, the government dren could easily be used Standard Chartered Bank Khurshid Alam spoke on child camel jockeys, those failed to do so and in some as 'suicide attackers' (SCB), Middle East and the worth and present staNorth Africa, was in returning from UAE, in cases Government Issue against humanity. tus of Leather Industry of Karachi recently to reinPakistan. He stated that the force Standard Chartered's leather sector realises that commitment to Pakistan. US is helping Pakistan for "Pakistan is a very attracflood affectees by providtive market for us and we ing relief packages espeare committed to support its cially in Southern Punjab. development and growth," Earlier the US assistance said Papadopoulos at the for earthquake affected KARACHI: Governor Sindh Governor at the It was also instructed occasion. During his visit to areas was highly appreciat- Sindh Dr Ishrat- ul- Ebad Governor House here on that foolproof security ed that. measures should be Pakistan, Papadopoulos Khan and Chief Minister Friday evening. Matters pertaining to undertaken and that the met with industry, business Syed Qaim Ali Shah have directed that effective rehabilitation of flood shopkeepers of Shershah and finance leaders as well measures be taken for affected, law and order, Market be provided with as regulators to explore the country's growth strategies protection against dengue development projects also security. Those involved in the and the opportunities for came up for discussion virus in the province. tragic incident of greater regional involveA statement here on during the meeting. The Governor and the Shershah Kabari Market ment for the Bank. Friday said that they had "The huge advances made instructed the Sindh Chief Minister said that be brought to justice. The Governor and the across a number of industry Health Department to every possible steps sectors including telecomconstantly keep a vigilant would be undertaken for Chief Minister directed eye and undertake pre- curbing crimes and for that the ongoing develop- munications, manufacturing ventive measures besides the maintenance of law ment schemes be com- and the service sector open KATACHI: Vice pleted at the earliest so up new doors for financial providing treatment facil- and order. Chairman All Pakistan They further directed that their benefit reach the service providers. We ities. Textile Mills Association without any intend to work closely with It said that the Chief that miscreants should be people (APTMA) M Yasin both the private and public delay.-APP Siddique showed concern Minister called on the dealt with sternly. sectors to deepen our comover supply of low gas mitment to our existing cuspressure to textile industry tomers, the region in generand urged the SSGC to al and the wider business take immediate steps to sector.-PR restore required gas pressure to industry as low gas pressure is causing damage to generators and affecting production of industry due to which process are also not working properly. Vice Chairman APTMA said that low gas pressure KARACHI: William J would badly affect producMartin, US Consul General tion and delay shipments in his speech at the dinner of export orders and we reception hosted by Dr will not get benefit from Mirza Ikhtiar Baig, Federal KARACHI: Sindh Governor Dr. Ishratul Ebad Khan unveiling plaque recent market access facilAdvisor on Textile in his to inaugurate Professional Development Center and Training Facilities ity extended by EU if gas honour, assured that US at University of Karachi.-APP supply is not provided will help Pakistan for the uninterruptedly.-Online revival of the economy and
US envoys meet Lahore tanners
Burney demands suo moto action against government
Canadian minister talks at Pak expo
‘Canada is a potential market for Pak traders, M Imran Sharif KARACHI: Minister of Citizen and Immigration of Canada Eric Hoskin said that Canada attaches great importance to Pakistan, and the Canadian market offers great opportunities to Pakistani exporters and manufacturers to make inroads in every business sector in Canada. He was speaking at the inaugural session of 2nd Pakistan Single Country Exhibition in Canada at Congress Center Toronto which was attended by a large number of Pakistani and Canadian businessmen. Eric Hoskin said that the trade relations between both the countries need to
be further expanded and holding of Pakistan Single Country Exhibition in Canada will be very instrumental in achieving the desired goal. He also appreciated the role of Pakistani community living in Canada which is contributing significantly in the progress of the country. He further said that if the business community of both the countries join hands the bilateral trade and economic relations will go beyond imagination. He offered that Canada can contribute in various sectors of Pakistan particularly in Education and Health sectors and development of infrastructure. He highly appreciated the role of S M Muneer in
organizing the said show. Molana Atta ur Rehman Federal Minster for Tourism, S M Muneer Chairman Pakistan Canada Business Council of FPCCI, Akber Zeb High Commissioner of Pakistan in Canada, Sahibazada A Khan Consul General of Pakistan in Toronto, Dr Shafiq Qadri MP Etobicoke North, Jim Karygvannis MP, Jawed Ghouri, Qamar Sadik, Aamir Shamsi, Abdul Rehman Chawla, Naved A Rehman and others also attend the exhibition. Molana Atta ur Rehman also addressed the gathering and appreciated the role of FPCCI in exploring new markets for Pakistani products which is the need of hour.
SCB reinforces bank’s strengths in Pakistan
Qaim, Ebad vow steps against dengue
APTMA slams SSGC over low gas pressure
US to assist textile sector
TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere 11:10 Mohaaz (F) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:05 Manzil
Gul Ahmed brings winter collection
TVI starts typhoid vaccination drive
KARACHI: Bohemian glamour returned to the streets of Karachi as the much awaited fall and winter collection by Gul Ahmed Textile Mills was launched at a glittering ceremony. Celebrities from across the spectrum of Karachi's social circles as well as the media were at the launch ceremony that saw the latest designs aided with Gul Ahmed's trademark vibrant colours entice the audience. From textured delights of the Oltenia premium collection, to the celebrated Exclusive Printed Khaddars and the vivacious hues of the Sinai Crepe collection are just some of the lines on exhibit.-PR
KARACHI: Trust for Vaccines and Immunization (TVI) conducted its first vaccination activity at a school in Gulshan Town. This activity marked the beginning of TVI's Typhoid Vaccination Campaign that aims to provide immunization from Typhoid Fever to maximum number of school going children of Gulshan Town. The vaccination activity will continue till 15th November. Gulshan Town was chosen to conduct TVI's pilot project because it is a good representative of children belonging to all strata of society and is more likely
to give a head start in establishing a successful chain of vaccination among all Socio Economic Classes. Expressing his views about the starting of vaccination campaign in Gulshan Town, Professor Abdul Gaffar Billoo said, "I'm very happy with our progress as a team. We had been planning to conduct vaccination for a long time and now finally we have entered into the most critical execution phase, i.e. the vaccination and this would not have been possible without the support of Ministry of Health.Agencies
textile sector. Dr Baig in his welcome speech called the recent Pak-US Strategic Dialogue in Washington successful which has given a new dimension to US-Pak relationship. Dr Baig also informed about his meetings with the senior officials of USTR Ms. Gail Strickler, and Paul W Jones, Deputy of Mr. Richard Holbrooke, were focused to support Pakistan Textile Industry. He appreciates the efforts of United State Department of Trade Representative for arranging meetings with 100 Top US brands with our leading textile exporters at Javits Centre, New York. He assured new US Consul General that the Government of Pakistan appreciates their efforts and are working hard jointly to achieve the desire results.-Agencies
KARACHI: Administrator of Karachi Lala Fazal ur Rehman visiting the Abbasi Shaheed Hospital’s Dengue ward with IDO finance Naila Wajid and IDO Health Dr Nasir Javed.-Staff Photo
CDGK steps up dengue controlling efforts
More beds for dengue ward KARACHI: City District Government Karachi (CDGK) has set aside a sum of Rs20million for control of dengue virus and malaria in city while with the addition of 20 bedded ward the total number of beds in Abbasi Shaheed Hospital for patients suffered from dengue virus has increased to 60. This was stated by Karachi Administrator Fazlur Rehman while addressing a press conference at Abbasi Shaheed Hospital on Friday. EDO Health Dr. Nasir Javed, EDO Municipal Services
Masood Alam and EDO Finance & Planning Naila Wajid Khan were also present on this occasion. Out of 18 towns six towns have been affected more due to dengue virus where spray program has been made in the morning and night timings. Earlier Administrator Fazlur Rehman while chairing a meeting of all the THOs and Medical Superintendents of city government run hospitals directed town health officers to play active role on town level in the ongoing fumigation campaign. Addressing the press
conference Karachi Administrator said that at present city government has only 20 spray machines as rest of the machines were torched on the Ashura Incident. Therefore city government has decided to add 80 more spray machines which would be enough to cater to needs of the city. 40 machines are being purchased immediately while 40 more machines will be purchased in the next financial year. He said that he will personally monitor the fumigation campaign and supply of medicines.-Online
Etihad promotes cultural exchange
Toshiba starts quality campaign
designer met with local students, artists, social entrepreneurs, religious scholars and politicians, transcending the commonly held notions about Pakistan in the UK and other countries; which they characterized as 'cricket, curry and terrorism'. Amer Khan, Country Manager for Pakistan at Etihad Airways, said: "We are delighted to work with Offscreen Expeditions on this project. At the crossroads between east and west, Etihad Airways is well placed to promote cross cultural exchange."
KARACHI: With Sachin Tendulkar as its brand ambassador, Toshiba has started an extensive marketing campaign with the key message of "Quality Technology - Design" in the South Asia region, said a handout issued here. Tay Choon Song, Senior Manager for Marketing Services/eBusiness, Toshiba said, "Cricket is the most popular sport in the South Asia region and Sachin is a world-renowned Indian cricketer who has to his credit innumerable records and path-breaking achievements in the cricketing arena."-PR
Staff Reporter KARACHI: Etihad Airways sponsored a recent expedition of a team of British students from Off-screen Expeditions, a UK-based non-profit organisation, to fly to Pakistan to assist in developing UK-Pakistan relations. Exploring the North Western region of Pakistan in hopes of a better understanding of the country's culture and customs, the team of 18-21 year old photographers, artists, musicians and a fashion
KARACHI: A view of the traffic jam at Saddar after violence in the city following the assassination attempt on Chairman Sunni Tahreek Sarwat Ejaz Qadri.-Online
3 Saturday, October 30, 2010
Swiss franc gains vs euro ZURICH: The Swiss franc traded slightly higher against the euro on Friday as risk aversion was on the rise after weak economic data out of Japan. Markets were also digesting comments by Swiss National Bank officials who said the current expansionary policy was appropriate and currency interventions off the table for now. The franc was up 0.3 per cent against the euro compared to the New York close, trading at 1.3657 per euro at 0708 GMT. "Over the last hours, the Swiss franc has been gaining ground because of weak data out of Japan," Sarasin analyst Alessandro Bee said, adding that an expected fall in the KOF economic barometer, due at 0930 GMT, may weaken the franc. Board member Jean-Pierre Danthine said deflation risks had now eased making intervention in the currency markets to weaken the Swiss franc unnecessary for the time being. The franc was 0.1 per cent lower against the dollar at 0.9847 per dollar. -Reuters
Dollar down against yen as FOMC meeting looms Focus remains on FOMC and how much easing is in store NEW YORK: The dollar was down against the yen but edged up against the euro on Friday after US economic data did nothing to reduce expectations that the Federal Reserve will commit to a new round of monetary stimulus next week. The dollar index, a measure of the dollar's performance against a basket of six currencies, was flat as investors positioned for an initial debasement of the currency on the Fed announcement. The yen hovered close to the record peak value of 79.75 yen to the dollar from 1995 with investors betting that the Bank of Japan will not intervene to weaken the yen before the Federal Reserve makes its announcement. The Fed has telegraphed its intent to boost growth by pumping more money into the
economy through direct government bond purchases. The only uncertainty is how much money the Fed is willing to spend. A survey by the New York
ed an advance read on US third quarter gross domestic product, which expanded at a 2.0 per cent annual rate, as expected. "With growth steady but
Federal Reserve of dealers and investors included scenarios of up to $1 trillion, a figure larger than recent estimates. Analysts say possible scenarios include the Fed starting at $80 billion to $100 billion a month but leaving itself the option to buy more. US economic reports includ-
unimpressive and inflation pressures very benign, it underscores the Fed's most recent message and their concern with the inflationary readings," said Vassili Serebriakov of Wells Fargo in New York. "I do think it confirms and perhaps reinforces expectations for the Fed's
Asian currencies
Mostly steady; eyes on Fed QE's size, direction SEOUL: Emerging Asian currencies steadied on Friday as investors waited for the Federal Reserve's policy meeting next week. Investors predict the Fed will ease policy further and the focus is on the size and the duration of the expected policy action. "If the Fed announces what markets are expecting, Asian currencies will be kept in recent ranges. But if the Fed presents bigger easing, we will see Asian currencies rising one or two per cent more before the end of this year," a Kuala Lumpur-based dealer said. A New York Fed survey of dealers and investors included
Previous Day
scenarios of up to $1 trillion for the Fed's asset programme next week, a figure larger than recent estimates. Analysts in a Reuters poll said the Fed could buy $80 billion-$100 billion worth of assets a month. Flows into emerging market funds slowed significantly in the fourth week of October as investors awaited a Nov. 2-3 Federal Reserve meeting where it could launch a fresh round of asset buying to bolster the struggling US economy. Investors also remained wary of possible measures in the region to check hot money inflows. Earlier, South Korea's top officials warned of regula-
tions and the Philippine central bank said it will continue to review its foreign exchange rules after it had approved measures relaxing restrictions on forex outflows. The Thai baht eased a tad in early sluggish trade as investors squared positions ahead of the Fed's decision next week. "Asian currencies are mostly stable with a slight 'risk-off' tone despite the euro's overnight rebound and a stronger yuan. It's tricky to speculate on the QE impact but the market expects the Fed to try to moderate volatility. We may see the baht testing 30.00 today amid this uncertainty," a Bangkokbased trader said. -Reuters
Stg rises as easing expectations recede
Taiwan dollar strengthens
LONDON: Sterling hit a threeweek high against the euro on Friday, continuing to outperform after strong UK gross domestic product data earlier this week made more monetary easing by the Bank of England less likely. The pound also gained against the dollar. It hit a two-week high at $1.6010, as the greenback fell broadly as expectations the
mortgage approvals came in slightly better than expected in September, but still fell to the lowest since February, while overall credit was subdued. Market reaction was limited as the data suggested the housing market remained fragile and broader credit conditions were tough. But it failed to convince economists the BoE would start a
Federal Reserve will announce monetary easing next week remained intact despite data showing the US economy grew 2 per cent in the third quarter. Investors remained cautious due to uncertainty over the size of monetary easing, which the Fed is expected to announce on Wednesday after a two-day policy meeting. By 1506 GMT, sterling was up 0.3 per cent at $1.5996. On the week, it was on track to rise almost 2.1 per cent, its highest weekly gain since early April. Data on Friday showed British
new bout of quantitative easing (QE) when it meets to decide policy next week. The euro fell 0.5 per cent to 86.95 pence after dropping to 86.81 pence, its lowest since Oct. 5, and its biggest weekly loss since early June. Gains versus the euro helped trade-weighted sterling rise to a three-week high of 80.2. Sterling has performed well since figures earlier this week showed the UK economy grew twice as fast as expected in the third quarter. -Reuters
TAIPEI: The Taiwan dollar closed higher on Friday following brisk exporter purchases for month-end cash needs at home amid fears that prices could surge next week if US monetary authorities take bold quantitative easing steps. The local dollar ended at T$30.782 per US dollar compared to Thursday's final price of T$30.824 after a session dominated by nervous exporters ahead of a US Federal Reserve meeting on Nov. 2-3. "Most of Friday's trade was done by exporters, I'm guessing, and the central bank didn't intervene too heavily," a foreign bank currency dealer in Taipei said. A Reuters poll showed dealer forecasts on the total size of a renewed Fed purchase programme ranging between $250 billion and $2 trillion, with most expecting purchases of between $80 billion and $100 billion per month. Taiwan's central bank was seen selling local currency on Friday to control volatility, but it stopped short of erasing gains. It has bought roughly $5.5 billion in US currency since Sept. 27, according to an IFR Markets survey of traders. -Reuters
Australian $ dips; worst week in over two months SYDNEY/WELLINGTON: The Australian dollar was on track for its worst weekly performance in over two months on Friday, as some cautious investors took profits in one of the year's best-performing major currencies. The Australian dollar was a shade softer at $0.9762, down from $0.9779 seen late in New York. A few stop-loss sell orders lay below support at $0.9740, a break of which could extend losses to Oct 19 and 20 lows of $0.9662. For the week, the currency was down 1.1 per cent, a modest decline but still its weakest week since August 15, a testament to how well it has done this year. It is the second best-performing major currency after the yen this year, having jumped 8.8 per cent since January. Some traders said they wanted to take profits before next week, which may be a volatile ride for markets with central bank meetings in Australia, the United States, Britain and Europe. A tepid rise in domestic private sector credit was an additional drag as it argued for the Reserve Bank of Australia (RBA) to not raise interest
rates at its Nov 2 meeting. After this week's tame inflation report, the RBA's meeting next week is seen to be a close call. Even though the central bank has said time and again rates would rise from 4.5 per cent, many think it is in no hurry to tighten so soon. A Reuters poll of 20 analysts showed 14 thought there would be no hike. The NZ dollar, which has outperformed its Aussie neighbour in recent sessions, was softer around $0.7538 after trading in a narrow $0.7527/55 range. Unlike the buoyant Australian economy, the New Zealand economy has struggled and recent data has pointed to rates being kept on hold until March next year. But the kiwi has risen about 4 per cent since the start of the year, thanks to the global selldown in the US currency. A mixed batch of NZ data on Friday did little for the currency, with the annual trade surplus widening slightly, while new building approvals edged up 0.5 per cent, pointing to a subdued domestic economy. -Reuters
quantitative easing move next week." Midway though the New York session, the dollar was down 0.4 per cent at 80.49 yen, off a low of 80.46 on trading platform EBS. Stoploss orders were reported under 80.40 ahead of a layer of bids from 80.30 to 80.00. Friday's selling pushed the dollar toward a 15-year low of 80.41 yen and near a record trough of 79.75 also set in 1995. The 80-yen level "seems to be the new line in the sand," said Greg Salvaggio, vice president of trading at Tempus Consulting in Washington. The euro fell as much as 1 per cent to a session low of 111.52 yen. The euro slipped 0.2 per cent to $1.3900, leaving the dollar index down 0.1 per cent at 77.278. -Reuters
Yuan up, trades above cbank mid-point SHANGHAI: Spot yuan closed up against the dollar on Friday and traded above the mid-point set by the People's Bank of China, as the market eyes yuan appreciation ahead of a slew of political events in November. US President Barack Obama and Chinese President Hu Jintao will discuss the global economy and trade among other issues when they meet on Nov. 11 on the sidelines of the G20 summit in Seoul, the White House said on Thursday. The United States wants China to allow its yuan currency value to rise to aid US exports, and this issue is expected to be a central part of the G20 summit of advanced and emerging economic powers in South Korea. China typically grants goodwill gestures ahead of political events that boost pressure for yuan appreciation. Ahead of the previous G20 summit in late June, the government abolished a nearly two-year peg of the yuan to the dollar on June 19.
There will be a slew of other political events in the United States in November, so many dealers expect the PBOC to let the yuan rise to around 6.60 against the dollar by late in the month. The yuan closed at 6.6708 against the dollar, up from Thursday's close of 6.6874. It has now risen 2.33 per cent since the PBOC depegged it from the dollar on June 19. The PBOC set the mid-point, or its reference rate from which the yuan can rise or fall 0.5 per cent in a day, at 6.6908 on Friday, stronger than Thursday's 6.6986. The yuan never traded as weak as the mid-point on Friday, with an intraday low of 6.6840. Offshore, benchmark oneyear non-deliverable forwards (NDFs) fell to 6.4470 bid in late trade, from Thursday's close of 6.4600, with their implied 12-month yuan appreciation rising to 3.78 per cent from 3.69 per cent. -Reuters
Indian rupee snaps 3-day fall as share surge MUMBAI: The Indian rupee snapped a three-day losing streak on Friday buoyed by a late rise in local shares, which continued to keep up hopes for more foreign fund inflows, but broad dollar strength capped further gains. The partially convertible rupee closed at 44.43/44 per dollar, 0.2 per cent stronger than its 44.52/53 previous close. It moved in a range of 44.4250-44.57. "The rupee should have been much weaker than where it was today looking at the global dollar moves, but probably the liquidity crunch here prevented that," said Naveen Raghuvanshi, an associate vice president with Development Credit Bank. The government will raise close to $3.5 billion from the sale of a 10-per cent stake in Coal India, the world's largest coal miner, the initial public offering of which was 15 times covered. So far this year, foreign funds
have purchased shares worth a record $24.6 billion, helping the rupee gain 4.7 per cent. One-month offshore nondeliverable forward contracts were quoted at 44.74, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollarrupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 44.7225, 44.72 and 44.7175 respectively, with the total traded volume on the three exchanges at about $5.2 billion. -Reuters
Source
Events
Actual
Forecast
Previous
JPY JPY JPY EUR EUR EUR CHF CAD CAD USD USD USD
Manufacturing PMI Tokyo Core CPI y/y Prelim Industrial Production m/m German Retail Sales m/m CPI Flash Estimate y/y Unemployment Rate KOF Economic Barometer GDP m/m RMPI m/m Advance GDP q/q Advance GDP Price Index q/q Employment Cost Index q/q
47.2 -0.5% -1.9% -2.3% 1.9% 10.1% 2.17 0.3% -0.4% 2.0% 2.3% 0.4%
-0.8% -0.5% 0.5% 1.7% 10.1% 2.18 0.3% 1.5% 2.1% 1.9% 0.6%
49.5 -1.0% -0.5% -0.4% 1.8% 10.0% 2.20 -0.1% 2.2% 1.7% 1.9% 0.5%
Currency Rates Name EUR-USD EUR-GBP EUR-CHF EUR-JPY USD-CHF USD-CAD GBP-USD GBP-JPY
As per 22.00 PST Ask High 1.3913 1.3950 0.8683 0.8741 1.3693 1.3736 112.07 112.96 0.9843 0.9907 1.0192 1.0246 1.603 1.6035 129.1 129.25
Bid 1.3911 0.8679 1.3687 112.03 0.9838 1.0187 1.6025 129.04
Low 1.3810 0.8673 1.3648 111.55 0.9827 1.017 1.5876 127.99
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 29/10/2010 A USD GBP CAD EUR JPY O/N 0.22563 0.55375 1.02667 0.69250 SN 0.09438 1WK 0.24841 0.55563 1.05000 0.73875 0.10688 2WK 0.25000 0.56000 1.07333 0.76313 0.11250 1MO 0.25375 0.56875 1.10917 0.80688 0.12625 2MO 0.26766 0.62688 1.15750 0.86063 0.15438 3MO 0.28594 0.74100 1.21750 0.98688 0.19688 4MO 0.33500 0.82413 1.27750 1.04188 0.28125 5MO 0.39750 0.92813 1.33750 1.12875 0.33813 6MO 0.44844 1.03000 1.40500 1.22438 0.39750 7MO 0.49719 1.10375 1.46167 1.27563 0.45750 8MO 0.54625 1.18725 1.54833 1.32250 0.50375 9MO 0.59688 1.26813 1.61333 1.37375 0.55375 10MO 0.65056 1.34250 1.68500 1.41813 0.58250 11MO 0.70406 1.41000 1.76167 1.46125 0.61063 12MO 0.76219 1.48038 1.84500 1.50688 0.63813
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada Bank of England European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia Bank of Japan
Dec 07 2010 Nov 04 2010 Nov 04 2010 Nov 03 2010 Dec 16 2010 Nov 02 2010 n/a
Sep 08 2010 Mar 05 2009 May 07 2009 Dec 16 2008 Mar 12 2009 May 04 2010 Dec 19 2008
Current Interest Rate 1% 0.50% 1% 0.25% 0.25% 4.50% 0.10%
Division of National Bank of Pakistan (NBP) KARACHI, October 29,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND
85.95 137.05 119.48 84.17 87.27 83.91 12.74 1.07 14.57 66.18 16.02 22.92 11.08 12.87 305.82 27.64 64.80 23.61 23.40 0.08 2.87
85.75 136.73 119.21 83.98 87.07 83.71 12.71 1.06 14.54 66.03 15.98 22.87 11.05 12.84 305.11 27.58 64.65 23.56 23.35 0.08 2.86
85.56 136.42 118.92 83.76 86.84 83.49 12.68 1.06 14.50 65.85 15.94 22.81 11.03 12.81 304.30 27.50 64.48 23.49 23.28 0.08 2.85
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for October 29, 2010
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
CMKA 12.25 12.25 12.40 12.45 12.75 12.85 13.00 13.10 13.15 13.40 13.65 13.70 13.75 13.75 13.75 13.75 13.75 13.85 14.23 14.35 14.50
BMA 11.60 11.90 12.25 12.42 12.69 12.80 12.95 13.05 13.15 13.40 13.68 13.70 13.75 13.75 13.75 13.75 13.75 13.80 14.25 14.50 14.60
INVSR 11.50 11.90 12.15 12.45 12.64 12.75 12.99 13.08 13.10 13.35 13.69 13.70 13.72 13.74 13.74 13.74 13.78 13.80 14.25 14.30 14.50
GSL 12.15 12.20 12.30 12.40 12.70 12.85 13.02 13.12 13.22 13.40 13.65 13.68 13.74 13.75 13.76 13.77 13.65 13.90 14.20 14.35 14.50
ICSL 12.25 12.30 12.35 12.50 12.70 12.85 13.00 13.10 13.20 13.40 13.60 13.73 13.75 13.75 13.75 13.75 13.75 13.85 14.20 14.30 14.50
JSCM AvgRate 11.60 11.89 11.85 12.07 12.20 12.28 12.45 12.45 12.65 12.69 12.75 12.81 13.00 12.99 13.10 13.09 13.15 13.16 13.35 13.38 13.70 13.66 13.72 13.71 13.74 13.74 13.75 13.75 13.75 13.75 13.75 13.75 13.78 13.74 13.85 13.84 14.25 14.23 14.35 14.36 14.50 14.52
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
0.86 0.91 0.94 0.94 0.51 0.38
-0.36 0.48 0.49 -0.30 0.71 0.48
0.91 0.81 0.97 0.68 0.83 0.51
0.67 0.00 0.85 0.36 0.85 0.76
-0.51 0.31 0.81 0.84 0.88 0.76
0.67 0.90 0.93 0.91 0.51 0.39
USD/CAD USD/CHF -0.77 -0.68 -0.83 -0.65 0.21 -0.25
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)29/10/2010 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ABLN 12.10
12.60
12.10
12.60
12.25
12.75
12.75
13.00
12.90
13.15
13.10
13.60
13.25
13.75
13.35
13.80
JSBL
12.35
12.85
12.35
12.85
12.45
12.95
12.75
13.00
13.05
13.30
13.20
13.70
13.30
13.80
13.50
14.00
ASPK 12.15
12.65
12.20
12.70
12.25
12.75
12.70
12.95
12.95
13.20
13.10
13.60
13.15
13.65
13.30
13.80
CIPK
12.00
12.50
12.20
12.70
12.40
12.90
12.65
12.90
13.00
13.25
13.10
13.60
13.20
13.70
13.30
13.80
DBPK 12.05
12.55
12.10
12.60
12.05
12.55
12.70
12.95
12.90
13.15
13.15
13.65
13.25
13.75
13.35
13.80
FBPK 12.10
12.60
12.20
12.70
12.15
12.65
12.65
12.90
13.00
13.25
13.10
13.60
13.15
13.65
13.40
13.90
FLAH 12.25
12.75
12.25
12.75
12.30
12.80
12.75
13.00
12.95
13.20
13.10
13.60
13.20
13.70
13.30
13.80
HBPK 12.20
12.70
12.25
12.75
12.35
12.85
12.75
13.00
13.00
13.25
13.10
13.60
13.20
13.70
13.35
13.85
HKBP 12.20
12.70
12.20
12.70
12.30
12.80
12.75
13.00
12.95
13.20
13.10
13.60
13.20
13.70
13.30
13.80
NIPK
12.20
12.70
12.30
12.80
12.60
13.10
12.80
13.05
13.00
13.25
13.10
13.60
13.20
13.70
13.30
13.80
HMBP 12.10
12.60
12.20
12.70
12.45
12.95
12.80
13.05
13.00
13.25
13.15
13.65
13.20
13.70
13.30
13.80
SAMB 12.25
12.75
12.25
12.75
12.40
12.90
12.85
13.10
13.00
13.25
13.15
13.65
13.25
13.75
13.35
13.85
MCBK 12.10
12.60
12.25
12.75
12.40
12.90
13.00
13.25
13.05
13.30
13.20
13.70
13.30
13.80
13.50
14.00
NBPK 12.25
12.75
12.20
12.70
12.25
12.75
12.75
13.00
12.80
13.05
13.10
13.60
13.20
13.70
13.30
13.80
SCPK 12.20
12.70
12.20
12.70
12.25
12.75
12.70
12.95
12.95
13.20
13.10
13.60
13.15
13.65
13.35
13.85
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
12.17
12.67
12.22
12.72
12.32
12.82
12.74
12.99
12.98
13.23
13.11
13.61
13.21
13.71
13.33
13.83
ABPL
UBPL AVE
-0.86 -0.66 -0.85 -0.87 -0.62 -0.62
4 Saturday, October 30, 2010
Strategic Dialogue or Procedural Quagmire
The Financial Daily International Vol 4, Issue 84
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Prudent decision impossible sans credible data It is often said 'Pakistan is the cotton country' but the harsh reality is that it has the worst managed textiles and clothing industry. There was a demand to establish a separate Textile Ministry but the situation hasn't improved a bit after creation of this ministry. The dismal state of the industry can be attributed to presence of groups having vested interest and government's failure to make prudent decisions. The height of apathy could be gauged from the fact that every year farmers, ginners and spinners give contradictory figures about the cotton output, simply because they have conflicting interest. Often the spinners raise a hell about shortfall of cotton in the country but also emerge the biggest exporter of raw cotton. This dismal state of affairs is because the government follows no scientific method for estimating cotton crop. Production data can be termed wild guess at the best. Spinners also say that cotton production remains below the demand. However, the data about installed as well as operating spindles and rotors is very scanty. The annual report published by All Pakistan Textile Mills Association does not provide the correct number of installed and operating capacities. Some experts suspect the understatement of installed and operating capacities is an attempt to show electricity and gas consumption on the lower side as well as avoiding payment of taxes. Textiles and clothing industry is being represented by nearly three dozen associations. Till textile quota was in force the numbers were close to actual because of maintaining passbooks. However, after the complete phase out of quota regime only limited data is made available by the manufacturers and exporters to the respective associations. As such many critics say that trade associations are the platforms for personal projection and office bearers often belong to certain groups. They follow 'you scratch my back and I scratch your back' policy. It goes without saying that the small and medium enterprises, the backbone of textiles and clothing industry are neither represented nor listened to by the business leaders. Pakistan initiated a satellite based cotton estimation project, which fall prey to the politics of association. Now two power groups exist in textiles and clothing industry, which are cotton growers and spinners. These groups are represented in provincial and national assemblies and senate and also influence government policy. However, the voice of value adding sector is hardly heard because this group mainly comprises of small and fragmented units. There may be a dozen committees at federal and provincial levels said to be responsible for overseeing the affairs textiles and clothing industry but the output or contribution is disappointing. It seems highly disgusting that Pakistan is among the top five cotton growing countries and its economy and exports are heavily dependent on cotton but the decision makers do not know the cotton output or consumption numbers. How can any one expect any prudent decision when it is free for all?
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.
Ehtisham Amir
I
t is naĂŻve to expect that the US administration, backed with reports of various think-tanks, does not understand the meaning of word 'strategic'. But when it comes to dealing with the "Staunchest of ally" word 'strategic' is conveniently given new meaning, synonymous with cosmetic or at best tactical initiatives. The Pakistan-US strategic dialogue, arranged with such pomp and show, has started losing the steam in its third round. Though you need two to make a quarrel, Pakistan has however, done far more than any nation can be expected to foster or strengthen a relationship. Doling out few millions here and there, providing opportunity for photo shoots in glittering corridors of Capitol Hill does not fit in the word "strategic" in the wildest of the sense. Outcome of recent dialogue is no different than the earlier sessions. Pakistan-US relations have always been issue-specific and never been broad ranging. Geo-strategic location of Pakistan has been the reason to attract US interests. History of relations has been roller coaster, where the US has always engaged Pakistan to accrue a specific foreign policy advantage and walked away when no more needed. Worst, periods of honeymoons have usually ended into heralding an era of harsher sanctions and arm twisting. When strategic relations are to be established, both sides, despite asymmetry of power potential, have to chalk out a long term commitment. Both have to take each others' limitation and sensitivities into cognizance. Carrot has to be used more often than the stick. If Pakistan can truly boast off any strategic relations, it is with China and few Muslim countries. Relations may have had periods of chill or thaw but have never been pushed to the point of being considered a burden or regret. On the contrary, Pak-US relations can be ascribed to the category of patron-client or worst, as transactional relations where both sides have few money bags as the cost of relations. When we view our present engagement with the US over the last one decade, we clearly see an imperial mindset in action. There is nothing remotely resembling "strategic" in this chapter of engagement,
which is fast nearing another ignominious end. What could be strategic interest of Pakistan which needs US support to address? Any street smart can count them on finger tips of one hand. And US negotiators are smarter than street men to have precisely never addressed those issues. Foremost of our current strategic interests, is economic stability and bringing economy to sound footings. Without this, no other policy can deliver results. Policy issues and not the peripheral issues should be addressed. And in this arena, we witnessed precisely opposite of "strategic." Pakistan has been demanding greater market access for its textile industry. We have been denied this in the last "decade of ignominy" beginning with
expect Pakistan to engage with them in mutually rewarding relations when it is onto damage our strategic interests in the process? We are to be blamed partly for the sorry state of our economy. Mismanagement, corruption and lopsided policies of our economic managers are a reason for dismal situation we are into. But this is a byproduct of our foreign policy decision to serve as a client to US in Afghan war. Domestic terrorism was within manageable limits till 9/11. But due to parochial policies of the US, imposed on us, we are into this predicament. Our economic health has deteriorated to a point where no short term measures can resuscitate it. Who in his sanity would invest in a country where power outage is a norm,
“
Doling out few millions here and there, providing opportunity for photo shoots in glittering corridors of Capitol Hill does not fit in the word "strategic" in the wildest of the sense. Outcome of recent dialogue is no different than the earlier sessions.
9/11. In fact, Pakistan has suffered on this account since 1971 when the US arbitrarily halved our quota and granted to Bangladesh which had no textile sector worth its name. Forty years of injustice is a sufficient cause of resentment. In times of Jargons like "Free Trade" etc, placing quota barriers clearly mock the US intentions. We do not find any letup on this simmering issue in present round of dialogue. Is it that the US has kept this issue as bargaining chip for rainy days? Pakistan has been screaming for resolution of this issue which would allow its economy to rejuvenate at its own without the aid. US officials have been cynically commenting about China and Muslim countries for not providing "sufficient" aid to Pakistan during flood relief operations. But that's not for the US to decide nature of our engagement with other nations. This diplomatic overture speaks volumes about imperial mindset of the US. How does the US
where threat of terrorism is reaching epochal proportion? Conservative estimates place our losses to a staggering US$50 billion due to our participation in the US-led war on terror. Can Pakistan be termed greedy when demanding proportional assistance? This is strategic issue of the time and for next two to three decades to come. But the US feels contented with over publicized the Kerry-Lugar Act which promises (yet to be manifested) US$7.5 billion, spread over five years. The US has withheld payments of already agreed Coalition Support Fund, which has now reached an astounding two and half billion dollars. Instead of routinely reimbursing the CSF, it takes Pakistan additional and hectic diplomatic effort to recover what is our right. And then US officials turn bitter and amazingly ask as to why people of Pakistan hate them? Next strategic issue which the US can help resolve and on which it has repeat-
edly declined to use its leverage is Kashmir dispute, an issue on which peace in South Asia hinges. Pakistan expects the US to use its clout to resolve the issue amicably. Unfortunately it is not so. With such simmering volcano, how can Pakistan be expected to enact paradigm shift in its security doctrines? Pakistanis haven't forgotten Indian muscle flexing in the wake of Mumbai incident of 2008. Kashmir is in the grip of popular uprising movement which can spiral out of Indian control and can wreck havoc to fragile peace of South Asia. It can also cause Pakistan to lose focus on Afghan crisis at a time when the US plans to withdraw its forces and create new strategic imperatives in the region. If USA has failed to realize Pakistan's national priorities, Pakistan should not be expected to toe its policy towards Afghanistan. Pakistan's next strategic concern is foreign sponsored terrorism. If Pakistan is whipped every now and then for not doing "enough" to help the US overpower Afghan resistance, some charges can be placed at American doors when it comes to TTP activities and upheavals in Balochistan. Afghanistan is under de-facto US occupation. If only the US was to satisfy Pakistan on this issue, Pakistanis may feel a sense of gratitude. Ironically, this issue has aggravated due to the hype of "trust deficit". Both nations have not synergized their efforts to curb a common enemy i.e. terrorism. USA and Pakistan have divergent views on how to fight the war on terror. Amazingly what is harmful to one is trump card of the other. If only this issue is tackled by proverbial "holding the bull by the horn", trust deficit can transform into trust surplus. It takes two to make a tango. Process of strategic dialogue has been widened to cover peripheral issues like women empowerment, reforms in education and judicial sectors at the cost of core issues. With over a dozen issues on agenda, such process can turn into quagmire, yielding nothing concrete. Unless the US identifies and focuses on "real" issues which Pakistan can never coerce the US to realize, strategic dialogue will only add to the list of broken promises and widen the trust breach between the two countries.
Eyes & Ears Qutubuddin
A
new state-of-the-art grain and fertilizer terminal has been inaugurated at Port Qasim at a cost of Rs10 billion on 22 acres of reclaimed land. The new terminal would not only save handling cost and time as it would directly discharge grain and fertilizer from bulk carriers anchored at Port Qasim and load them into the containers for onwards transportation to upcountry. The project, a joint venture of Fauji Foundation, Akbar Group and National Bank will place Pakistan among the nations having modern harbor facilities and offering lower cost of handling but also increase foreign
exchange earning and enhance tax collection through greater transparency. Built at a cost of $135 million, having 300-meter long jetty with depth of 14.5 meters, the terminal can accommodate ships up to 75,000 tonnes capacity. The terminal has cargo handling capacity of 4 millions tons annually with the storage capacity of 100,000 tons of dry cargo. Inaugurating the new terminal, Prime Minister Syed Yousuf Raza Gilani described it as the need of the hour which would also reduce the cost of importing commodities, lower inflation, reduce wastage and save time. After inaugurating the terminal by unveiling a plaque, the Prime Minister was taken to a quick round of the facility but surprisingly none of the guests or even representatives of the national media were shown the facility or supplied with data providing basic details of the project, which otherwise looks
impressive and would hopefully increase the port efficiency and country's capacity to store food grain at its silos and help in saving the country from possible shortages in the aftermath of floods. One can only hope that the project is run efficiently through a transparent operation to yield the benefits it is supposed to bring. Last week I was more then happy to hear news on TV that the Pepco has decided that because of 3000 MW reduction in demand due to weather change, there will be no more load shedding in the country including Karachi. But for the poor Karachiites, the good news proved only short lived. The same evening the much criticized and talked about Karachi Electric Supply Company (KESC) announced it would raise the load shedding duration from normal 3-4 hours to 8-10 hours a day owing to gas shortage. The KESC not merely announced this but started
implementing it from the same evening claiming it has at its disposal 1900 MW of electricity while the demand ranged from 2100MW to2300 MW. The KESC claimed that it was forced to increase load shedding spell because it was not receiving natural gas in required quantity from the Sui Southern Gas Company (SSGC) due to closure of Zamzama gas field for annual turn around. The KESC prefers to produce power through gas as it was quite cheaper costing just Rs4.50 per unit. My question to the KESC bosses is when it is charging 3 times higher tariff from millions of consumers then why should it make them suffer and avoid use of furnace oil for power generation. There seems no justification for this act. The matter is also under scrutiny in a reference petition challenging privatisation of KESC. In the petition, the Chairman of Law Foundation referred to the fact that
according to analysis of a Nepra unit cost of electricity comes to Rs4.50 while it was sold to consumers at Rs13 per unit. The consumers are also forced to pay sales tax on their bills illegally because sales tax applies to the seller of the electricity and not on end users. The petition which is pending before a division bench of the Sindh High Court also seeks a relief for the consumers from fuel adjustment charge. Now some thing about the tuition fees being charged by private schools, which has been increased from 15 to 60 per cent in Karachi. According to a report, private schools have increased the fees unilaterally without seeking prior approval from the Directorate of Education. Surprisingly, the Directorate does not seem interested in checking this illegal increase in fees for obvious reasons. 'Cordial' relations with private schools management matter more to them then the interest of a common man.
Advantages of Hallmarking Jawed Iqbal
A
ll that glitters is not gold but how pure is the glittering gold? Even the most experienced jeweller cannot tell how much precious metal i.e. gold is there in a jewellery article, just by looking at it. Price, color or weights do not reveal the amount of alloying metals that have been added to a piece of jewellery whether it is coated or plated by gold. Though, the local jewellers are familiar with the internationally recognized standards of quality assurance, still some uncertainty prevails in the minds of jewellers and manufactures because the gold items purchased from different sources cannot be certified. Due to non-existence of proper analytical facilities, some cases of the undercoating or the proper ratio of contents has claimed. The need to protect the
creditability of the gold jewellery has called for introducing hallmarking. Hallmarking is assurance/certification of the quality of gold used in jewellery through an internationally accredited independent body. It is an internationally recognized system of quality assurance of precious metals. It is envied by many countries in order to boost their trade of precious metals and to protect the consumers. Assaying can be best described as an analytical test of determining gold content in the gold jewellery and the certification of the gold content against standards is termed Hallmarking. To be more precise; it refers to the fineness denotes the actual content of precious metal in the alloy used and Hallmarking refers to the physical marking a piece of jewellery according to specific laws to certify the purity of metal. Hallmarks
are small markings stamped on gold, silver, palladium and platinum articles. Buying Hallmarked Jewellery is beneficial in many ways. Buyer is assured of the gold content, hence the value of the purchase. It protects the public against fraud and traders against unfair competition and it will ensure that mixing of other metals in gold will be within the permitted limits in accordance with the gold standards. It is also useful in case of resale as there would be no doubt about the gold content. Assaying and Hallmarking are the third party quality control and the assurance tools for the jewellery industry. Hallmarking is the solution to a conventional jewellery retailer against threat of branding and branded jewellery. It is the authentication of the accurate ratio of valuable metals and base metals used internationally in the
jewellery making. There is a dire need for introducing Assaying and Hallmarking in Pakistan. Hallmarks are thus authorized series of marks onto precious metals used in many countries as a guarantee of purity and quality. Pakistan will surely attract the foreign direct investment once the Hallmarking is introduced in the jewellery manufacturing Industry and setting up of Assaying & Hallmarking Offices. By introducing Hallmarking of jewelry in Pakistan awareness can be created among jewelers, consumers and traders that will help in overcoming the declining image of the Pakistani jewelry and credibility in the global markets. It will provide broader base of exports of gold jewellery and will be used as marketing tool eventually developing Pakistan as a reliable market of jewellery.
5
Saturday, October 30, 2010
South East Asian stocks
Europe stocks inch up on stimulus hopes KSE-100 Index Opening Closing Change % Change Turnover (mn)
10,634.99 10,598.40 36.59 0.34 103.97
LSE-25 Index Opening Closing Change % Change Turnover (mn)
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,696.37 2,696.46 0.09 0.00 0.15
Major Gainers
Symbol ULEVER SIEM RMPL NESTLE FZTM
Close
Change
4,088.67 1,249.46 1,681.06 1,973.48 453.50
63.54 44.46 30.06 24.42 18.21
Major Losers
Symbol UPFL SRVI PECO MTL ATBA
Close
Change
1,000.00 207.95 291.48 480.89 155.91
-50 -10.94 -8.51 -6 -5.38
Top 5 Volume Leaders
Symbol
Close Vol (mn)
NBP NPL FFBL NCPL JOVC
64.61 15.14 31.16 14.09 4.07
9.54 6.73 6.28 5.55 5.34
Active Issues Plus Minus Unchanged
153 196 22
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to July 10) 3,565 Urea Offtake (July 10) 580 Urea Price (Rs/50 kg) 879 DAP Offtake (Jan to July 09) 374 DAP Offtake (July 10) 49 DAP Price (Rs/50 kg) 2,626
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 09 to June 10) 71,998 Sales (July 09 to June 10) 73,993 Production (July 10) 7,509 Sales (July 10) 4,503
INDUS MOTOR CO Production (July 09 to June 10) 50,557 Sales (July 09 to June 10) 50,823 Production (July 10) 5,162 Sales (July 10) 4,999
HONDA ATLAS CAR Production (July 09 to June 10) 13,500 Sales (July 09 to June 10) 14,120 Production (July 10) 1,560 Sales (July 10) 1,272
DEWAN FAROOQ MOTORS Production (July 09 to June 10)1,218 Sales (July 09 to June 10) 1,371 Production (July 10) 41 Sales (July 10) 40
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (August 20,10) 4,595,176 Advances (August 20,10) 3,304,533 Investments (August 20,10) 1,788,671 Spread (July 2010) 7.51%
OIL MARKETING CO (000 tons) MS (Jul 09 to June 10) MS (July 10) Kerosene (Jul 09 to June 10) Kerosene (July 10) JP (Jul 09 to June 10) JP (July 10) HSD (Jul 09 to June 10) HSD (July 10) LDO (Jul 09 to June 10) LDO (July 10) Fuel Oil (Jul 09 to June 10) Fuel Oil (July 10) Others (Jul 09 to June 10) Others (July 10)
PRICES (Ex-Refinery) MS (1 Sep 10) MS (1 Aug 10) MS % Chg Kerosene (1 Sep 10) Kerosene (1 Aug 10) Kerosene % Chg JP-1 (1 Sep 10) JP-1 (1 Aug 10) JP-1 % Chg HSD (1 Sep 10) HSD (1 Aug 10) HSD % Chg LDO (1 Sep 10) LDO (1 Aug 10) LDO % Chg Fuel Oil (1 Sep 10) Fuel Oil (1 Aug 10)
POL, APL, ATRL announce results Ghulam Raza Rajani
3,313.50 3,300.73 12.77 0.39 5.61
1,933 188 164 15 1,377 129 7,435 664 75 7 9,259 869 13 1
Rs 40.85 41.22 -0.90% 47.14 46.55 1.27% 47.37 46.78 1.26% 50.61 49.63 1.97% 46.37 45.29 2.38% 39,932 39,723
Mostly higher; Manila outperforms
Pakistan Oilfields limited (POL), Attock petroleum Limited (APL) and Attock Refinery Limited (ATRL), the subsidiaries of the Attock Oil Company Limited announced their financial results on Friday for the first quarter FY11 ending September 30. POL- profit after tax surged by 56.6 per cent to Rs2.23 billion (EPS: Rs9.44) against Rs1.42 billion (EPS: Rs6.03) for corresponding period of last year. This increase is attributable to the surge in oil and gas volume. Net sales of the company increase by 69.8 per cent to Rs5.39 billion for 1QFY11 from Rs3.175 billion during the corresponding period last year. Gross profit
increased by 70.4 per cent to Rs3.21 billion as compared to Rs1.88 billion for the same period last year. Exploration cost went up by 97.6 per cent to Rs105 million in 1QFY11 as compared to Rs53 million for 1QFY10. Administrative expenses hiked by 83 per cent to Rs20.13 million as compared to Rs11 million for corresponding period last year. APL - profit after tax surged by 19.3 per cent to Rs 875 million (EPS: Rs15.19) as compared to Rs 734 million (EPS: Rs12.74) over the corresponding period of last year. Net sales revenue for the period surge by 11.2 per cent to Rs18.38 billion from Rs16.54 billion, mainly due to hike in volumetric sales and prices, See # 9 Page 11
FTSE ends month on a whimper LONDON: Weakness from miners and banks nudged Britain's FTSE-100 index slightly lower by the close on Friday, ending the month on a whimper after a strong run since early September. Energy stocks were the main support for the index, with Royal Dutch Shell up 2 per cent as its forecast-beating results from yesterday were made to look more flattering still after disappointing figures from Chevron and Total on Friday. BG Group added 2.1 per cent ahead of its results next week. BP rose 0.7 per cent after a US presidential panel said contractor Halliburton used flawed cement in the Gulf of Mexico well that caused the worst offshore oil spill in U.S. history. The blue-chip index ended 2.73 points lower at 5,675.16, making a 1.2 per cent fall this week after gaining for each of
the three previous weeks. The index has still recorded gains of around 8.5 per cent since the start of September. "The bulls have slightly run out of Energy over the last week or 10 days," said Andrew Bell, chief executive of Witan Investment Trust. "A lot of the available good news on corporate results and quantitative easing is in the price, and there's no new reason for buying." US economic growth edged up as expected in the third quarter but not enough to chip away at high unemployment or change perceptions there would be more monetary easing from the Federal Reserve next week. An increasing conviction that the Federal Reserve will print money to support a fragile economy in the United States has pressured the dollar, lifted commodity prices and boosted equities. Reuters
ANNOUNCEMENTS Company Faysal Bank Ados Pakistan AL-Abid Silk XBXR Amtex Limited XD Aruj Garments Asim Textile Atlas Engineering Attock PetroleumXDXB Attock Refinery Brothers Textile Central Forest Century Paper Constellation Mod Dar-es-Salaam Elahi Cotton Equity Modaraba F. Nat.Equities Fatima Enterprise Ghandhara Ind. Ghandhara Nissan Golden Arrow XD Grays Leasing Gul Ahmed Tex.XD Gul Ahmed Tex.XD(Consolidated) Hala Enterpries Idrees TextileXD Indus Dyeing XD J.A.Textile Kohinoor Mills Kohinoor Mills(Consolidated) Land Mark Spinning Liberty Mills XD Maqbool TextileXD Masood TextileXD Mian Textile Mod.Al-Mali National Silk XD Nishat Chun Power Pak Datacom Ltd.XD Pak Oilfields XD Pak Services Pak Synthetics Pakistan Cables Paramount Mod XD Regent Textile Sally TextileXD Shams TextileXD Sind Fine Textile Sunrays TextileXD Tariq Glass Ind. Thatta Cement Towellers Limited United Brands United Distributors Bank Al-Falah Bank Of Khyber EFU General InsXB EFU Life Assur.XB National Bank(Consolidated) National Bank(Unconsolidated) Pak Elektron Ltd. Royal Bank Shaheen Insurance Stand.Chart.Bank(Consolidated) Stand.Chart.Bank(Unconsolidated) UniLever Pak WorldCall Telecom
Period 3rd Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr
Div/Bon/Right PAT (Rs in mn) 20%(B) 1807.576 25.516 22.181 27.628 2.296 14.200 6.957 875.113 583.324 -3.725 -0.720 7.595 0.727 -15.032 0.977 2.160 -45.456 114.507 5.766 16.028 52.631 -12.117 110.349 107.055 -5.525 4.241 505.052 -2.050 -289.864 -298.575 -0.164 107.599 15.189 142.143 -10.708 0.483 -0.868 418.858 31.740 2232.789 59.166 41.538 7.967 1.772 4.860 44.170 65.436 -0.051 111.971 48.198 0.625 -6.672 -36.344 -9.874 1501.517 278.645 -685.619 112.241 11412.914 11363.430 349.696 -1815.345 -33.381 1986.109 1907.829 2136.000 -744.230
EPS(Rs) 2.97 3.88 2.32 0.11 0.37 0.94 0.28 15.19 6.84 -0.38 -0.24 -1.29 0.11 -1.88 0.75 0.04 -0.79 8.05 0.27 0.36 0.35 -0.56 1.74 1.69 -1.46 0.23 27.94 -0.16 -5.69 -5.86 -0.01 4.76 0.90 2.37 -0.48 0.03 -0.78 1.14 4.05 9.44 1.82 0.74 0.37 0.32 1.02 5.03 7.57 -0.02 16.23 2.09 0.01 -0.39 -30.29 -1.08 1.11 0.56 -5.48 1.32 8.48 8.45 2.98 -1.11 -1.67 0.50 0.49 160.66 -0.86
NOTE:*100%SD shares of Fatima Fertilizer Co.ratio of 1:1(D)
Faysal Bank to issue bonus shares Staff Reporter
KSE closes on negative note Nawaz Ali
KARACHI: Profit after tax of Faysal Bank jumped to Rs1.807 billion for the 3rd quarter ending September 30, 2010 and Board of Directors approved issue of 20 per cent bonus shares. According to financial results of the bank dispatched to Karachi Stock Exchange on Friday, the profit before tax has also surged to Rs1.644 billion as earning per share also climbed to Rs2.97 during the period under review against last year's EPS of Rs1.51.
Unilever profit dips TFD Report KARACHI: Unilever Pakistan has posted a lower profit after tax of Rs2.138 billion for the third quarter ending September 30, 2010.According to financial results dispatched to Karachi Stock Exchange on Friday, the profit before tax has slipped to Rs3.233 billion during the period under review as compared to Rs3.370 billion. Earning per share also dropped to Rs160.66 as compared to Rs172.43 for the corresponding period last year .
China, HK shares fall as earnings disappoint HONG KONG/SHANGHAI: Hong Kong and Shanghai shares fell half a per cent on Friday as financials slid on disappointing earnings, and as a strong debut for Asian insurer AIA cut demand for rivals' stocks. Hong Kong's benchmark Hang Seng index fell 0.5 per cent to close just below the key technical level of 23,100 points, sparking fears that its recent break above that level would not hold. "Failed breakouts are to be shorted as those who bought on the breakout will be forced to sell to cut losses and will thus increase the selling pressure on the stock or the index." said the head of trading desk at a Japanese bank in Hong Kong. AIA Group surged 17 per cent in its first day of trade as investors piled into the record offering in the world's hottest IPO market, chasing exposure to Asia's fast-growing life insurance business. But insurers overall were the biggest drag on the benchmark index after disappointing earnings from China Life accelerated a shift of funds out of Chinese insurers into AIA. China Life fell 3 per cent. Traders in Hong Kong said that AIA shares might find its way into some FTSE and MSCI benchmark indices earlier than expected, which would require index funds and exchange traded funds to buy into shares to adjust their portfolios accordingly. Bank of Communications shares slumped 7.8 per cent, making it the top loser on the Hang Seng, after it boosted its provisions for potential bad loan losses, a specter that is haunting many Chinese lenders despite strong profit growth. "It is the only major Chinese bank that reported a flat NPL ratio, while others have fallen. There is concern that (the NPL ratio) may climb later," said Paul Lee, an analyst at Tai Fook Securities. The Hang Seng rose 3.3 per cent in October although a weak market since midOctober ate into gains as investors preferred to pare back long bets ahead of the US See # 10 Page 11
KARACHI: Bearish activities continued at the Karachi Stock Exchange on the last day of the week. The benchmark index KSE-100 closed below 10,600 levels due to profit taking with results season almost over. Selling was also witnessed due to announcement of results below expectations. The benchmark KSE 100index shed 36 points to close at 10,598 levels while KSE 30index lost 46 points to close at 10,154 levels and KSE allshare index lost 28 points to close at 7,382 levels. "Bearish activity continues after major earning announcements", said Ahsan Mehanti, Director Arif Habib Investments. Concerns regarding rising circular debt in Pakistan energy sector, gas supply issue facing textile sector and falling international oil prices close to $81 affected investors' sentiment negatively, he added. After a negative opening of the first session, market showed some volatile activities throughout the day moving on both sides between 10,660 points (+ve 25 points) and10,569 points (-ve 65 points) as investors preferred to book profits as almost all the blue chip companies have announced their corporate results while decline in international oil prices also invited selling pressure in the market. The index remained in the bear-
ish territory during the most part of the day despite below expectation financial results of Pakistan Oilfields and National Bank of Pakistan, further damping investors' sentiments. "A major U-turner was NBP, which went down by Rs3, after speculation of its EPS being around Rs6 for the 3QCY10 turned out to be false, as its actual EPS came to Rs2.45", said Arsalan Khan, equity dealer at JS Global Capital. Other major companies announcing their corporate results during the day included Faysal Bank, Attock Petroleum and Bank Al-Falah. According to NCCPL data, local individual investors and mutual funds did a net selling of $3.34 million and $0.99 million on Friday while banks and foreign investors did a net buying of $3.65 million and $0.43 million respectively. Volumes too were slightly lower as 103.9 million shares traded in the overall market which were 6 million shares less as compared to a turnover of 109.9 million shares recorded a day earlier. National Bank emerged the volume leader of the day with 9.54 million shares exchanging hands followed by Nishat Power and Fauji Fertilizer Bin Qasim with 6.73 million and 6.28 million shares respectively. Out of total 371 active issues; prices of 196 declined and prices of 153 advanced while 22 issues remained unchanged.
Nikkei hits 7-wk closing low TOKYO: Japan's Nikkei average fell 1.8 per cent to a sevenweek closing low on Friday as disappointing earnings hit shares of companies such as Sharp, with downward momentum accelerating after the index breached a key technical support level. Investors were keen to lighten long positions ahead of the weekend and before a blizzard of earnings reports due after the close on Friday and a highly anticipated Federal Reserve policy setting meeting on early November. "I realise exporter shares are under pressure due to worries about a strong yen, but the Nikkei as a whole has also far lagged behind the US and European shares," said Masaru Hamasaki, a senior strategist at Toyota Asset Management.
"The Nikkei will likely catch up at some point and one catalyst may be the Fed's meeting, with eyes on whether it will decide on additional easing measures on a scale in line with market expectations." The benchmark Nikkei ended down 163.58 points at 9,202.45, its lowest close since September 9, while the broader Topix slipped 0.4 per cent to 810.91. Traders said foreign brokerages could be actively selling in the futures market on behalf of foreign hedge funds and other institutions. Some said weak economic data also put a damper on investor confidence. Japanese factory output fell for the fourth straight month in September, the longest streak See # 11 Page 11
US stocks mid-day
Wall St flat as Fed meeting, elections approach NEW YORK: U.S. stocks were little changed on Friday as investors continued to assess prospects for monetary stimulus by the Federal Reserve and ahead of elections that could change the balance power in Washington. Market action in the last several weeks has been dictated by prospects the Fed will announce another round of asset buying next Wednesday. Mid-term elections next Tuesday have also preoccupied investors, with polls indicating a Republican takeover of the House of Representatives. Analysts said the government's gross domestic product report was positive, showing 2 per cent annualized growth rate in the third quarter as forecast, but the data took a backseat to stimulus speculation. "There's big news next week, and most of it is built into the market, some ideas about how many pro-business people will move to Washington and how proactive the Fed will be," said Richard Sichel, chief investment officer at Philadelphia Trust Co. "In both cases, investors have been fairly optimistic for some months now about what we'll see. When we do get that next week, the market will probably get back to looking at earnings," Sichel said. With 335 of S&P 500 companies having reported so far, some 77 per cent have beaten earnings estimates. That is just shy of the record beat rate of 79 per cent in the third quarter of 2009, according to Thomson Reuters data. Still, earnings have taken a back seat to macroeconomic news. The Dow Jones industrial average dropped 2.73 points, or 0.02 per cent, to 11,111.22. The Standard & Poor's 500 Index dropped 0.34 point, or 0.03 per cent, to 1,183.44. The Nasdaq Composite Index gained 6.51 points, or 0.26 per cent, to 2,513.88. While the S&P 500 is flat so far this week, the index is up almost 4 per cent for the month, and investors could take the opportunity to lock in profits during the session. Reuters
Indian shares post 1st monthly fall in 5 months MUMBAI: Indian shares posted their first monthly decline in five months but closed 0.5 per cent higher on Friday, propped up by a late surge in ICICI Bank, which soared after posting better-than-expected quarterly earnings. Investors await an eventful week marked by U.S. Federal Reserve's two-day meet ending Wednesday, Reserve Bank of India's policy review on Tuesday and Coal India's listing on the bourses on Thursday for directional cues. Most economists participating in Reuters' poll on Thursday expected the central Bank to raise rates by at least 25 basis points to rein in stubbornly high inflation in the fast growing economy. It would be the sixth increase since midMarch. Top private lender, ICICI Bank rose 6.5 per cent, its best single-day gain in more than
15 months, as it beat forecasts with a 19 per cent rise in quarterly net profit, helped by robust credit growth and fewer bad debts. The stock rose as much as 7.7 per cent to 1,174 rupees, its highest level since February 2008. The 30-share BSE index edged up 0.46 per cent or 91.30 points to 20,032.34, with only nine of its components closing in the green. "There is not much to read in this month's decline. There were just bouts of profit sales after the rally we saw in September," said Rakesh Rawal, head of private wealth management at brokerage Anand Rathi. It declined 0.2 per cent this month, first monthly drop after May. The benchmark index had gained 11.7 per cent in September which was its best gain in 16 months.
"It is not a panic situation or a sign of big worry," said Rawal, adding he expected Sensex to test a new record high by end-December. The 30-share index is still up 14.7 per cent year to date, as foreign funds have invested $24.7 billion in Indian equities in the period. It is around 1,200 points away from its all-time high witnessed in January 2008. Though most earnings did not disappoint the street, they lacked big positive surprises, which investors had started to factor in the price, Rawal said. India along with Singapore, Indonesia, Thailand and Philippines slowed in terms of earnings momentum in the last three months from the previous three months while Hong Kong, China and Malaysia showed an improvement, UBS said in a note on Thursday. See # 12 Page 11
6
Saturday, October 30, 2010
Market
Symbols
Volume
103,969,308
Value
2,928,648,662
Trades
58,733
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
153 196 22 371
10,598.40 10,660.72 10,569.12 i36.59
PE
High Low 1,358.08 1,338.32 Total cos Defaulter cos P/BV (x) ROE (%) 4.19 37.01
Attock PetroleumXDXB 691 4.58 296.81 Attock Refinery 853 18.25 101.44 BYCO Petroleum 3921 - 10.71 Mari Gas Company 735 16.12 121.90 National Refinery XD 800 3.27 223.69 Oil & Gas Development 43009 10.42 153.75 Pak Petroleum 11950 7.60 186.63 Pak Oilfields XD 2365 6.15 245.00 Pak Refinery Limited 350 - 77.00 PSO 1715 4.50 265.78 Shell Gas LPG 226 - 34.45 Shell Pakistan 685 9.37 182.99
299.50 103.39 10.89 121.90 224.90 155.00 187.30 244.50 77.50 267.50 35.49 185.67
296.00 99.60 10.58 118.51 220.00 152.20 186.00 242.01 74.54 265.00 32.74 182.05
Close Chg 297.47 100.36 10.65 118.96 220.70 153.94 186.85 242.42 74.97 265.73 32.86 182.62
0.66 -1.08 -0.06 -2.94 -2.99 0.19 0.22 -2.58 -2.03 -0.05 -1.59 -0.37
Close Change 1,348.15 -2.02 Listed cap Market cap 65,194.15 mn 1,063,852.34 mn Payout (%) Div Yield (%) 68.56 6.06 Last 60 days High Low
Volume 112231 2553071 558926 23921 69036 564090 346688 616558 14223 157367 2631 7937
374.20 103.39 12.87 135.84 233.50 156.00 214.10 251.24 85.90 286.99 40.28 237.55
2009 Div BR (%) (%)
287.99 250 73.47 9.62 106.00 32.17 100B 183.25 125 133.00 82.5 168.70 130 20B 213.17 180 48.26 233.10 50 27.32 182.05 330 -
% Change -0.15 5-Day High 1,358.03 5-Day Low 1,348.15 2010 Div BR (%) (%) 300 31 200 55 90 255 80 40
20 20B -
CHEMICALS Open 1,181.38 Turnover 17,135,381 P/E (x) 7.33 PE
High Low 1,194.03 1,173.03 Total cos Defaulter cos P/BV (x) ROE (%) 2.57 35.00
Open
High
Low
3924 9.57 22.74 68 74.92 9.16 250 10.66 78.20 273 6.01 152.96 1203 7.01 170.44 1996 2.45 1020 5.52 3663 1.66 3277 8.99 175.56 6635 - 13.38 22000 9.62 6785 7.25 106.56 9341 5.88 30.39 725 9.25 12.06 1388 6.98 126.53 15142 3.67 10.32 74 1.44 1106 1.43 120 2.55 214 8.98 109.67 551 13.93 12.39 92 - 11.58 90 6.58 35.88
21.96 10.15 79.00 159.10 171.25 2.59 6.20 1.75 176.40 13.60 9.81 107.25 31.50 12.30 126.79 10.42 2.10 1.59 2.60 113.95 13.39 10.60 36.89
21.61 8.41 77.10 153.60 168.50 2.32 5.40 1.61 175.01 13.00 9.50 106.01 30.31 12.05 123.50 10.16 1.31 1.45 2.58 107.00 12.08 10.58 34.09
Close Chg 21.62 8.99 77.59 157.23 168.98 2.34 5.72 1.64 175.35 13.15 9.54 106.52 31.16 12.21 123.83 10.28 1.32 1.50 2.58 109.59 12.82 10.58 34.21
-1.12 -0.17 -0.61 4.27 -1.46 -0.11 0.20 -0.02 -0.21 -0.23 -0.08 -0.04 0.77 0.15 -2.70 -0.04 -0.12 0.07 0.03 -0.08 0.43 -1.00 -1.67
Close 1,182.00 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 71959 10028 2401 36605 13076 66604 3020442 203373 331014 833175 1157321 461985 6278454 151853 149629 4519972 23038 127511 2581 4864 879571 2632 11172
Change 0.62 Market cap 264,857.14 mn Div Yield (%) 6.66
25.95 15.99 87.99 173.99 182.00 2.98 6.20 2.15 190.80 15.20 12.04 112.35 31.50 13.85 131.40 10.75 3.24 1.70 3.49 128.01 13.79 17.88 46.25
2009 Div BR (%) (%)
% Change 0.05 5-Day High 1,200.05 5-Day Low 1,181.38 2010 Div BR (%) (%)
21.15 8.41 5 66.90 90 15 152.55 125 155.38 40 10B 40 1.78 3.20 1.28 165.60 6010B 40R 40 10.62 - 27.5R 9.02 102.96 131.5 10B 95 26.59 40 - 17.5 7.41 109.50 80 55 6.75 5 0.80 1.16 1.80 104.56 75 25 7.67 9.22 10 10B 34.09 50 50
10R 5B -
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,109.34 Turnover 426,133 P/E (x) 5.54
High Low 1,104.38 1,070.31 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 7.47
Close 1,085.43 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Century Paper 707 Pak Paper ProductXDXB 50
7.88
17.26 40.00
17.00 41.00
16.26 40.00
16.26 -1.00 41.00 1.00
425960 108
Change -23.91 Market cap 3,008.06 mn Div Yield (%) 4.56
Last 60 days High Low 21.80 62.85
16.26 38.61
% Change -2.16 5-Day High 1,140.72 5-Day Low 1,085.43
2009 Div BR (%) (%)
2010 Div BR (%) (%)
- 425R 20 -
25 33.33B
Performance of SR Industrial Metals and Mining Index
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin XD
PE
565 3.83 675 555 6.27 1199 4.44 785 10.24
Open 24.65 2.82 14.86 46.02 9.00
High 24.99 2.88 14.99 46.75 9.01
High Low 937.40 916.00 Total cos Defaulter cos P/BV (x) ROE (%) 0.96 33.10 Low 24.50 2.74 14.50 45.22 9.00
Close Chg 24.50 2.81 14.62 45.58 9.01
-0.15 -0.01 -0.24 -0.44 0.01
Close 919.57 Listed cap 3,596.11 mn Payout (%) 30.91
Change -6.41 Market cap 8,796.56 mn Div Yield (%) 10.63
Last 60 days High Low
Volume 5891 13300 23937 18171 11297
28.37 3.39 16.75 70.71 10.80
23.75 1.65 12.25 45.22 8.00
2009 Div BR (%) (%) 10
30B -
% Change -0.69 5-Day High 937.93 5-Day Low 919.57
30 40 7.5
20B -
Performance of SR Construction and Materials Index
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement XD Berger Paints Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gammon Pak Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement XD Maple Leaf Cement Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement
High Low 988.48 962.29 Total cos Defaulter cos P/BV (x) ROE (%) 0.51 7.10
PE
Open
High
Low
1828 866 6.14 182 956 27.11 982 11.62 948 3574 3651 113.88 350 6933 14.61 502 3.28 1760 283 2319 32 1288 13126 3234 6.57 5261 1.33 2228 200 361 798 487.50
3.06 60.41 16.10 11.37 1.67 1.76 1.59 26.97 2.87 4.86 6.10 1.90 1.51 3.24 0.79 5.96 2.89 72.07 2.84 7.81 6.10 7.92 19.50
3.27 60.70 17.10 11.95 1.68 2.76 1.65 27.75 3.26 5.00 6.30 1.97 1.51 3.50 0.85 6.50 3.02 73.25 2.99 8.20 6.30 8.00 19.50
3.05 57.75 15.40 11.50 1.51 1.81 1.43 27.00 2.27 4.80 5.80 1.85 1.51 3.02 0.63 5.92 2.84 72.30 2.75 7.61 6.05 7.50 19.50
Close 975.31 Listed cap 54,792.74 mn Payout (%) 19.04
Change 8.39 Market cap 69,358.19 mn Div Yield (%) 2.63
Close Chg
Volume
Last 60 days High Low
3.05 58.30 15.53 11.93 1.51 2.52 1.55 27.33 2.99 4.82 6.30 1.90 1.51 3.03 0.63 6.15 2.91 73.07 2.85 7.99 6.15 8.00 19.50
10003 82262 11514 10762 9003 173975 59590 4288698 4016 252370 7514 36744 150 1003 1771 43806 753026 362664 121219 3304 7001 1700 500
4.20 70.00 19.15 12.50 2.59 3.90 1.99 28.30 4.70 5.50 6.90 2.29 2.90 7.50 1.48 6.60 3.65 74.00 3.48 8.58 9.47 11.00 22.24
-0.01 -2.11 -0.57 0.56 -0.16 0.76 -0.04 0.36 0.12 -0.04 0.20 0.00 0.00 -0.21 -0.16 0.19 0.02 1.00 0.01 0.18 0.05 0.08 0.00
2.80 57.75 14.01 8.90 1.30 1.02 1.30 23.02 2.11 4.51 4.25 1.74 0.98 2.11 0.25 5.50 2.60 62.60 2.51 6.80 5.50 7.50 17.74
2009 Div BR (%) (%) 50 40 -
20B 20R 10B -
% Change 0.87 5-Day High 992.98 5-Day Low 966.92 2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 896.20 Turnover 490,030 P/E (x) 2.58 Company
Paid up Cap(mn)
PE
Open
High
High Low 915.88 893.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 43.91 Low
Close Chg
Cherat PapersackXDXB 115 1.83 50.66 53.19 50.62 51.39 ECOPACK Ltd 230 2.11 2.10 1.98 2.00 Ghani GlassXDXB 1067 4.41 48.00 48.00 48.00 48.00 Merit Pack 47 43.75 17.51 18.00 17.50 17.50 Packages Ltd 844 51.81 103.00 104.00 101.00 101.02 Siemens Engineering 82 10.31 1205.00 1250.00 1220.00 1249.46 Syed Match 3 - 12.50 11.50 11.50 11.50 Tri-Pack Films 300 7.47 102.15 106.00 101.00 102.46
0.73 -0.11 0.00 -0.01 -1.98 44.46 -1.00 0.31
Close 902.80 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change 6.60 Market cap 33,517.20 mn Div Yield (%) 6.02
Last 60 days High Low
433581 53.19 34.00 38573 2.75 1.70 265 61.99 45.75 339 18.99 11.81 11691 123.00 98.00 2261 1260.00 1040.01 500 14.00 11.05 2810 106.00 91.00
% Change 0.74 5-Day High 917.28 5-Day Low 896.20
2009 Div BR (%) (%)
2010 Div BR (%) (%)
30 32.5 900 100
20 25 900 -
10B -
Paid up Cap(mn)
Pak Int Cont.Terminal XD 1092
25B 10B -
INDUSTRIAL ENGINEERING Open 1,541.45 Turnover 144,121 P/E (x) 8.04
Ados Pak AL-Ghazi Tractor Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors XB Pak Engineering XD
Paid up Cap(mn)
16,715.36 16,793.79 16,681.53 i34.22
High Low 1,547.42 1,508.57 Total cos Defaulter cos P/BV (x) ROE (%) 3.06 38.02
PE
Open
High
Low
66 1.08 215 4.85 213 11.11 124 132 8.46 366 6.29 57 809.67
15.90 204.23 13.00 138.83 74.18 486.89 299.99
16.90 205.50 12.50 140.80 71.00 489.90 299.00
16.00 202.00 12.00 140.80 70.50 478.50 285.19
Close Chg 16.76 202.33 12.00 140.80 70.61 480.89 291.48
0.86 -1.90 -1.00 1.97 -3.57 -6.00 -8.51
Close 1,518.43 Listed cap 1,336.62 mn Payout (%) 131.49
Volume 16979 1331 31450 500 187 93525 121
21.96 227.45 19.00 143.41 89.55 597.90 324.80
Close 754.55 Listed cap 3,242.17 mn Payout (%) 11.08
Change -7.62 Market cap 13,198.15 mn Div Yield (%) 3.63
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.29
73.86
75.40
72.00
72.91 -0.95
7646
87.00
60.05
2009 Div BR (%) (%) -
20B
2010 Div BR (%) (%) 40
-
AUTOMOBILE AND PARTS Open 1,107.18 Turnover 441,856 P/E (x) 3.87 Paid up Cap(mn)
PE
Open
Agriautos Ind XD 144 5.11 67.94 Atlas Battery 101 4.66 161.29 Atlas Honda 626 7.23 108.00 Dewan Motors 890 1.48 General Tyre 598 18.89 22.33 Ghandhara Nissan 450 3.25 4.45 Honda Atlas Cars 1428 - 11.68 Indus Motors 786 5.30 232.59 Pak Suzuki 823 11.64 73.92 Sazgar EngineeringXDXB 150 3.82 20.94
High
High Low 1,118.74 1,091.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.98 25.35 Low
Close Chg
67.98 67.25 67.50 -0.44 166.69 155.00 155.91 -5.38 107.99 102.70 103.83 -4.17 1.54 1.21 1.50 0.02 21.95 21.70 21.91 -0.42 5.23 4.49 4.68 0.23 12.00 11.31 11.55 -0.13 234.50 231.00 232.00 -0.59 74.99 73.08 73.09 -0.83 21.25 19.94 20.50 -0.44
Change -8.75 Market cap 39,805.39 mn Div Yield (%) 5.28
Last 60 days High Low
1434 76.98 24828 201.70 661 122.51 51003 2.09 15155 26.70 307525 6.10 12676 13.22 14509 278.99 13011 89.99 1051 27.58
63.01 131.00 92.00 1.16 21.70 4.03 9.65 212.29 69.25 19.50
% Change -0.79 5-Day High 1,118.41 5-Day Low 1,098.43
2009 Div BR (%) (%)
2010 Div BR (%) (%)
40 100 80 100 5 -
90 100 20 150 10
20B 30B 20B
20B 20B
14.62 20 200.00 400 11.29 108.11 17.15 70.50 35 390.00 450 284.95 125
25B -
RSI (14-day)
44.66
Total Assets (Rs in mn)
733.50
MA (10-day)
0.83
Total Equity (Rs in mn)
(57.43)
1.05
Revenue (Rs in mn)
1,000.00
MA (200-day)
1.26
Interest Expense
30.78
1st Support
0.60
Profit after Taxation
14.13
2nd Support
0.50
EPS 09 (Rs)
0.595
1st Resistance
0.85
Book value / share (Rs)
(2.42)
2nd Resistance
1.00
PE 10 E (x)
Pivot
0.75
PBV (x)
(0.28)
CJPL closed down -0.27 at 0.68. Volume was 766 per cent above average (trending) and Bollinger Bands were 23 per cent narrower than normal. The company's loss after taxation stood at Rs82.763 million which translates into a Loss Per Share of Rs3.48 for the year ended FY10. CJPL is currently 50.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of CJPL (mildly bearish). Trend forecasting oscillators are currently bearish on CJPL.
Din Textile Mills Limited
FOOD PRODUCERS Open 1,497.25 Turnover 84,064 P/E (x) 32.07 Company AL-Noor Sugar Chashma Sugar Faran Sugar Habib Sugar Habib-ADM Ltd J D W Sugar Mirpurkhas Sugar Mirza Sugar National Foods XD Noon Sugar Pangrio Sugar Quice Food Rafhan Maize Shahmurad Sugar Shakarganj Mills UniLever Pakistan
Paid up Cap(mn) 186 287 217 600 200 490 70 141 414 165 109 107 92 211 695 665
PE
Open
High
High Low 1,531.75 1,468.78 Total cos Defaulter cos P/BV (x) ROE (%) 9.72 30.30 Low
Close Chg
4.36 42.95 42.95 42.75 42.94 0.76 9.50 9.49 9.25 9.45 3.23 19.70 20.00 19.95 19.98 6.08 29.16 30.00 29.36 29.50 11.57 12.40 12.50 12.49 12.50 2.59 79.00 79.50 77.10 77.44 6.01 60.12 57.25 57.12 57.12 0.34 5.00 5.50 5.00 5.45 15.74 42.61 43.97 42.01 42.18 - 12.85 13.65 12.85 12.85 0.41 5.77 5.50 5.00 5.01 2.25 2.16 2.12 2.16 2.66 1651.00 1733.55 1601.00 1681.06 16.30 11.50 11.49 11.25 11.25 4.70 5.20 4.50 4.51 19.09 4025.13 4099.97 3900.00 4088.67
-0.01 -0.05 0.28 0.34 0.10 -1.56 -3.00 0.45 -0.43 0.00 -0.76 -0.09 30.06 -0.25 -0.19 63.54
Close 1,514.83 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 17.58 Market cap 195,402.36 mn Div Yield (%) 0.95
Last 60 days High Low
2000 45.99 39.25 5511 11.40 8.00 1500 20.25 15.92 38803 32.25 25.00 2703 16.98 11.90 3652 80.80 60.10 539 65.00 54.50 12880 5.70 3.55 1615 65.29 39.01 410 13.65 10.20 5030 6.35 4.00 5000 3.40 1.60 514 1733.55 1229.00 1500 11.90 7.70 2006 6.40 3.02 216 4220.00 3710.00
2009 Div BR (%) (%) 40 17.5 35 40 40 25 50 900 15 458
25B 10B 25B 10B -
% Change 1.17 5-Day High 1,514.83 5-Day Low 1,493.10 2010 Div BR (%) (%) 40 0 12.5R 12 600 178 -
HOUSEHOLD GOODS Open 1,157.30 Turnover 872,531 P/E (x) 2.87
Diamond Ind Pak Elektron Singer Pak Tariq Glass Ind
Paid up Cap(mn)
High Low 1,171.86 1,122.87 Total cos Defaulter cos P/BV (x) ROE (%) 0.30 10.64
PE
Open
High
Low
90 1174 3.45 341 17.00 231 2.11
13.28 14.56 19.01 17.68
14.24 14.85 19.76 18.20
12.28 13.56 18.02 17.30
Close Chg 12.28 13.70 18.02 17.66
-1.00 -0.86 -0.99 -0.02
Close 1,127.88 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 468 699018 506 172438
RSI (14-day)
53.51
Total Assets (Rs in mn)
3,166.89
MA (10-day)
24.48
Total Equity (Rs in mn)
1,102.67
MA (100-day)
26.46
Revenue (Rs in mn)
3,712.39
MA (200-day)
25.85
Interest Expense
1st Support
24.96
Profit after Taxation
32.55
2nd Support
23.96
EPS 09 (Rs)
1.756
1st Resistance
27.25
Book value / share (Rs)
59.51
2nd Resistance
28.54
PE 10 E (x)
1.33
Pivot
26.25
PBV (x)
0.44
Change -29.41 Market cap 5,362.92 mn Div Yield (%) 2.19
DINT closed down -0.31 at 25.92. Volume was 2,476 per cent above average (trending) and Bollinger Bands were 29 per cent narrower than normal. The company's profit after taxation stood at Rs359.879 million which translates into an Earning Per Share of Rs19.42 for the year ended FY10. DINT is currently 4.0 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 very strong flows of volume into DINT (bullish). Trend forecasting oscillators are currently bearish on DINT.
10.50 12.17 16.51 14.50
2009 Div BR (%) (%) -
10B 10B -
% Change -2.54 5-Day High 1,163.87 5-Day Low 1,127.88 2010 Div BR (%) (%) 17.5
10B -
PERSONAL GOODS Performance of SR Personal Goods Index Open 950.01 Turnover 10,838,069 P/E (x) 6.33 Company
Paid up Cap(mn)
PE
High Low 959.91 930.07 Total cos Defaulter cos P/BV (x) ROE (%) 0.55 8.64
Close 948.47 Listed cap 47,070.70 mn Payout (%) 16.68
Open
High
Low
Close Chg
Volume
(Colony) Thal 56 0.99 Ali Asghar Textile 222 0.44 1.05 Amtex Limited XD 2415 14.25 7.27 Artistic Denim XD 840 5.03 20.00 Azam Textile XD 133 0.49 2.03 Azgard Nine 4493 271.25 11.10 Bannu Woolen XD 76 1.03 11.50 Bata (Pak) 76 4.87 572.60 Chenab Limited 1150 3.45 Colgate Palm 316 31.99 838.14 Colony Mills Ltd 2442 2.64 2.83 Crescent Fibres Ltd XD 124 1.15 9.32 Crescent Jute 238 0.95 D S Ind Ltd 600 1.90 Dawood Lawrencepur 514 47.02 39.00 Dewan Farooque Spin. 600 4.09 4.15 Din TextileXDXB 204 0.56 26.23 Fazal Cloth 188 0.94 48.96 Fazal Textile XD 62 3.62 435.29 Gadoon Textile XD 234 0.51 44.54 Ghazi Fabrics XD 326 0.87 3.50 Gillette Pakistan 192 48.89 68.00 Gul Ahmed Textile XD 635 3.39 24.70 Gulistan Textile XD 190 1.60 18.05 Gulshan SpinningXDXB 222 1.34 7.11 Hira Txt.Mills Ltd. XD 716 0.73 3.94 Ibrahim Fibres XD 3105 3.02 37.07 Idrees Textile XD 180 3.59 3.51 Indus Dyeing XD 181 2.25 256.66 J K Spinning 179 0.95 6.92 Kohinoor Ind 303 1.46 Kohinoor Spinning XD 1300 1.08 1.00 Kohinoor Textile 1455 3.79 5.89 Leather Up 60 2.07 1.50 Masood Textile XD 600 2.11 20.90 Mehmood Textile XD 150 0.74 57.68 Mukhtar Textile 145 0.52 Nishat (Chunian) XD 1586 1.74 21.52 Nishat Mills XD 3516 4.44 52.17 Pak Synthetic 560 2.06 6.15 Premium Textile XD 62 0.47 29.57 Ravi Textile 250 4.54 1.72 Reliance Weaving 308 0.67 10.00 Rupali Poly XD 341 4.27 33.11 Saif Textile 264 0.46 5.24 Sally Textile XD 88 0.22 4.33 Samin Textile XR 134 6.02 Sana Ind XD 55 2.36 31.50 Sargoda Spinning XD 312 0.43 1.91 Service Ind 120 7.12 218.89 Shadman Cot 176 2.09 12.50 Shahpur Textile 140 0.96 0.80 Shahtaj Textile XD 97 0.83 17.00 Shahzad Textile XD 180 0.30 4.00 Tata Textile XD 173 0.19 19.00 Thal LimitedXDXB 307 3.91 89.82 Treet Corp 418 7.08 46.61 Tri-Star Poly 215 0.73 Zephyr Textile Ltd 594 5.66 3.91 Zil Limited XD 53 2.95 45.15
1.90 1.05 7.40 20.00 2.80 11.29 11.90 600.00 3.55 868.00 3.20 10.32 0.90 2.24 39.98 5.15 27.54 51.40 457.05 46.76 3.90 69.95 25.50 18.80 7.74 4.00 38.92 3.65 269.45 7.00 1.59 1.45 5.85 1.94 21.40 60.00 0.60 21.87 52.46 6.40 31.03 1.89 10.50 34.00 6.20 5.00 6.35 32.88 2.30 207.95 11.50 1.00 17.90 5.00 20.00 93.60 46.00 1.02 4.90 46.25
0.52 0.99 6.27 20.00 2.20 10.80 11.85 544.00 3.22 800.01 2.84 8.41 0.65 1.82 38.00 5.00 25.25 50.00 415.00 45.10 3.00 66.00 23.55 17.85 6.75 3.75 36.25 3.25 243.83 6.00 1.40 1.09 5.30 1.10 20.00 60.00 0.20 20.80 51.50 6.10 29.00 1.71 9.60 33.95 5.45 4.00 6.35 30.75 1.95 207.95 11.50 0.35 16.61 5.00 19.00 86.50 44.28 1.02 4.00 43.50
1.04 0.05 1.05 0.00 6.27 -1.00 20.00 0.00 2.70 0.67 10.85 -0.25 11.85 0.35 587.15 14.55 3.23 -0.22 852.33 14.19 2.85 0.02 10.30 0.98 0.68 -0.27 2.09 0.19 39.97 0.97 5.15 1.00 25.92 -0.31 50.00 1.04 453.50 18.21 46.76 2.22 3.00 -0.50 66.00 -2.00 23.56 -1.14 18.80 0.75 7.39 0.28 3.87 -0.07 38.40 1.33 3.30 -0.21 251.62 -5.04 6.25 -0.67 1.49 0.03 1.19 0.19 5.31 -0.58 1.74 0.24 20.00 -0.90 60.00 2.32 0.55 0.03 20.89 -0.63 51.71 -0.46 6.11 -0.04 29.84 0.27 1.77 0.05 9.63 -0.37 34.00 0.89 5.78 0.54 4.50 0.17 6.35 0.33 31.04 -0.46 2.24 0.33 207.95-10.94 11.50 -1.00 0.69 -0.11 17.16 0.16 5.00 1.00 20.00 1.00 91.40 1.58 44.45 -2.16 1.02 0.29 4.30 0.39 44.00 -1.15
2004 6200 3980090 20000 1304 992252 2503 3021 10500 317 68001 101 103429 1468820 221 8300 123322 393 193 61097 1501 1001 73295 337 508 152300 41004 2502 5210 7550 3656 116 8012 12401 505 106 504 1529600 750659 8000 1398 178633 16073 1506 1635 14204 5000 3731 2507 126 200 24894 5106 400 54756 322453 494980 191 256902 2169
Change -1.54 Market cap 121,749.63 mn Div Yield (%) 2.64
Last 60 days High Low 2.00 2.21 20.45 24.05 3.45 12.40 14.00 624.00 4.61 868.00 3.89 18.35 1.90 2.49 50.35 5.15 30.90 51.66 457.05 48.30 5.00 73.00 25.50 24.84 10.30 4.88 39.00 5.35 269.50 10.30 1.95 2.00 6.30 2.50 23.00 74.50 0.99 23.55 54.27 7.90 31.03 4.05 12.00 36.75 6.20 6.20 8.69 38.40 2.50 255.29 15.00 1.90 21.90 9.48 21.42 112.80 52.14 1.02 4.90 48.75
Open 875.94 Turnover 34,167 P/E (x) 6.48
2010 Div BR (%) (%)
Company
150 650 100
Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Searle Pak XD
Paid up Cap(mn) 979 250 1707 165 200 306
PE
Open
High
8.76 100.05 6.32 84.02 12.86 71.00 6.89 24.32 6.85 8.05 5.62 62.52
102.89 84.90 71.96 24.90 9.00 63.25
High Low 891.32 869.15 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 22.31
0.52 0.70 6.27 17.55 1.35 8.55 7.50 436.00 2.93 615.00 2.23 7.66 0.16 1.44 37.00 2.05 20.80 41.00 303.00 33.80 1.11 57.50 19.99 17.85 5.31 2.52 34.05 2.56 206.11 5.12 1.01 0.56 4.00 1.10 18.51 55.00 0.20 14.64 40.81 5.16 25.71 1.38 6.91 31.35 2.01 2.74 5.02 27.50 0.31 176.00 8.00 0.18 14.75 3.25 14.00 86.50 37.20 0.26 1.50 33.00
Low
Close Chg
99.50 100.00 -0.05 83.00 83.63 -0.39 70.19 71.50 0.50 24.05 24.89 0.57 7.75 8.50 0.45 62.00 62.54 0.02
Close 879.53 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 3950 5712 453 3383 5013 15655
2009 Div BR (%) (%)
% Change -0.16 5-Day High 953.77 5-Day Low 943.83 2010 Div BR (%) (%)
30 20 20 7.5 20 120 115 15B 10 5 20 10B -100SD 15 - 100 70 10 5 - 12.5 - 10B 10 - 10B 10 20B 10 20 10 15 20 5B 5 15 15 100R 4050.2257B 60 - 50R 15 20 25 45R 12.5 7.5 50 - 25SD 40 40 10 - 100R 35 60 5 200 20 45 5 25 20 20B 80 20B 4 40 10B 35 -
Change 3.59 Market cap 29,344.46 mn Div Yield (%) 6.87
Last 60 days High Low 104.00 124.00 81.35 25.79 9.00 64.50
142.46
Ghandhara Nissan Limited
Last 60 days High Low 19.70 15.44 24.14 19.10
Fundamental Highlights As on Jun 30, 2009
Technical Analysis
Performance of SR Household Goods Index
% Change -1.49 5-Day High 1,557.72 5-Day Low 1,518.43
25B -
Fundamental Highlights As on Jun 30, 2009
Technical Analysis
Performance of SR Food Producers Index
PHARMA AND BIO TECH
2009 Div BR (%) (%)
Crescent Jute Products Limited
MA (100-day)
Close 1,098.43 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Alert ! Unusual Movements
% Change -1.00 5-Day High 762.16 5-Day Low 734.66
Performance of SR Pharma and Bio Tech Index
Change -23.01 Market cap 31,536.37 mn Div Yield (%) 16.36
Last 60 days High Low
High Low 774.51 747.25 Total cos Defaulter cos P/BV (x) ROE (%) 0.78 25.53
Performance of SR Automobile and Parts Index
Performance of SR Industrial Engineering Index
Company
Current High Low Change
10,154.91 10,210.95 10,139.66 i46.27
PE
2010 Div BR (%) (%)
CONSTRUCTION AND MATERIALS Open 966.92 Turnover 6,235,627 P/E (x) 7.24
Company
Company
INDUSTRIAL METALS AND MINING Open 925.98 Turnover 59,296 P/E (x) 2.91
Open 762.16 Turnover 7,646 P/E (x) 3.05
Company
Performance of SR Chemicals Index
Company
Current High Low Change
INDUSTRIAL TRANSPORTATION
Low
Agritech Limited Bawany AirXDXR BOC (Pak) Clariant Pak Dawood Hercules Descon Chemical Descon Oxychem Ltd. Dewan Salman Engro Corporation Ltd Engro Polymer Fatima Fertilizer Fauji Fertilizer Fauji Fert. Bin Qasim Ghani Gases Ltd ICI Pakistan Lotte Pakistan Mandviwala Nimir Ind Chemical Shaffi Chemical Sitara Chem Ind XDXB Sitara Peroxide United Distributors Wah-Noble XD
7,382.41 7,428.58 7,364.49 i28.04
KMI 30 Index
Performance of SR Industrial Transportation Index
High
Paid up Cap(mn)
Current High Low Change
KSE 30 Index
OIL AND GAS
Open
Company
All Share Index
Performance of SR Oil and Gas Index Open 1,350.17 Turnover 4,467,753 P/E (x) 11.31 Company
KSE 100 Index
77.00 83.00 65.00 22.10 6.10 53.36
2009 Div BR (%) (%) 120 10 50 25 15
20B 15B
% Change 0.41 5-Day High 884.49 5-Day Low 870.57 2010 Div BR (%) (%) 20 30
20B -
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
53.83
Total Assets (Rs in mn)
MA (10-day)
4.41
Total Equity (Rs in mn)
MA (100-day)
5.34
Revenue (Rs in mn)
3,392.10 698.25 2,053.96
MA (200-day)
5.53
Interest Expense
1st Support
4.37
Loss after Taxation
2nd Support
4.06
EPS 09 (Rs)
344.95
1st Resistance
5.11
Book value / share (Rs)
2nd Resistance
5.54
PE 10 E (x)
Pivot
4.80
PBV (x)
(312.17) (6.937) 15.52 0.30
GHNL closed up 0.23 at 4.68. Volume was 1,336 per cent above average (trending) and Bollinger Bands were 56 per cent narrower than normal. The company's loss after taxation stood at Rs88.893 million which translates into a Loss Per Share of Rs1.98 for the year ended FY10. GHNL is currently 15.4 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into GHNL (mildly bullish). Trend forecasting oscillators are currently bearish on GHNL.
Southern Electric Power Company Limited
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
50.79
Total Assets (Rs in mn)
9,248.54
MA (10-day)
2.28
Total Equity (Rs in mn)
2,028.39
MA (100-day)
2.73
Revenue (Rs in mn)
1,911.24
MA (200-day)
3.46
Interest Expense
766.96
1st Support
2.11
Profit after Taxation
146.76
2nd Support
1.91
EPS 09 (Rs)
1.074
1st Resistance
2.50
Book value / share (Rs)
14.84
2nd Resistance
2.69
PE 10 E (x)
Pivot
2.30
PBV (x)
0.16
SEPCO closed up 0.22 at 2.32. Volume was 1,376 per cent above average (trending) and Bollinger Bands were 25 per cent narrower than normal. The company's loss after taxation stood at Rs86.56 million which translates into a Loss Per Share of Rs0.63 for the 1st quarter of current fiscal year (1QFY11). SEPCO is currently 33.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SEPCO (mildly bullish). Trend forecasting oscillators are currently bearish on SEPCO.
BOOK CLOSURES Company
From
To
Azam Textile Mills Kohinoor Industries Kohinoor Power Company Salman Noman Enterprises Saritow Spinning Mills The Royal Bank of Scotland Faysal Bank Atlas Fund of Funds First Paramount Modaraba Sapphir Fibres Sapphir Textile Mills Jahangir Siddiqui & Co Punjab Oil Mills Biafo Industries East West Life Assurance KESC Nestle Pakistan Fuji Fertilizer Thal Limited Fauji Fertilizer Bin Qasim
30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 01-Nov 02-Nov 03-Nov 03-Nov 04-Nov 04-Nov 09-Nov 09-Nov 10-Nov 15-Nov 15-Nov 16-Nov 21-Nov 23-Nov 14-Dec
05-Nov 05-Nov 05-Nov 05-Nov 05-Nov 11-Nov 10-Nov 10-Nov 10-Jan 11-Nov 11-Nov 23-Nov 15-Nov 16-Nov 23-Nov 28-Nov 22-Nov 27-Nov 30-Nov 20-Dec
D/B/R 7.5 5B 25(R) 2.20(F) 18 28(R) 12.5(i) 10R 7.80(R) 250(ii) 12.5(iii)
Spot AGM/Date 22-Oct 22-Oct 26-Oct 29-Oct 01-Nov 04-Nov 04-Nov -
30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 11-Nov 10-Nov 03-Nov 28-Oct 11-Nov 11-Nov 24-Nov 12-Oct 30-Nov -
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols TRG Pakistan Ltd. Shezan Internat.XD Grays of Cambr.XD Lakson Tobacco Pak Tobacco Shifa Int.Hospitals Eye Television PIAC(A) AKD Capital Pace (Pak) Ltd. Netsol Technol XD Pak Telephone
Open 4.03 96 46.68 328.43 112.5 28.45 21 2.5 61.51 3.14 18.98 1.76
High 4.1 97.9 48 344 113.25 29.5 20.9 2.65 64.58 3.29 19.15 1.99
Low Close 3.99 96 46 321 110.25 27.03 20.05 2.3 59.99 3.08 18.6 1.71
4.01 96 46.63 327.05 113.21 27.1 20.9 2.32 60 3.15 18.63 1.75
Change -0.02 0 -0.05 -1.38 0.71 -1.35 -0.1 -0.18 -1.51 0.01 -0.35 -0.01
Vol 1067958 244 530 310 4020 2490 830 279051 18021 756308 442848 3680
7
Saturday, October 30, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,109.74 Turnover 2,577,854 P/E (x) 5.87 Paid up Cap(mn)
Company
Pak Datacom XD Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,119.09 1,075.08 Total cos Defaulter cos P/BV (x) ROE (%) 0.75 12.84
PE
Open
High
Low
Close Chg
78 5.73 37740 12.17 3000 0.97 8606 6175 -
94.50 18.74 2.35 2.57 3.69
98.99 18.80 2.43 2.70 3.80
89.78 18.21 2.25 2.42 3.40
92.79 18.25 2.27 2.45 3.45
Close 1,079.19 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume
-1.71 -0.49 -0.08 -0.12 -0.24
3194 1255118 217854 1101688 476936
Change -30.55 Market cap 74,522.74 mn Div Yield (%) 10.66
120.61 19.76 2.78 2.98 5.68
89.78 17.32 1.80 2.30 3.40
% Change -2.75 5-Day High 1,156.57 5-Day Low 1,079.19
2009 Div BR (%) (%) 70 15 -
-
2010 Div BR (%) (%) 80 17.5 1 -
Atlas Insurance Century Insurance Crescent Star Insurance EFU General Ins. XB Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Silver Star Insurance
369 457 121 1250 400 718 791 3000 350 303 252 253
5.25 7.03 32.98 2.74 15.40 14.78 36.51 4.98 3.99 1.85
Paid up Cap(mn)
Company
PE
Open
High
Low
Genertech 198 Hub Power 11572 6.12 Japan Power 1560 KESC 7932 Kot Addu Power XD 8803 4.80 Nishat Chunian Power Ltd3673 3.09 Nishat Power Ltd 3541 24.42 Sitara Energy Ltd XD 191 3.48 Southern Electric 1367 Tri-star Power XD 150 -
0.95 33.87 1.64 2.19 39.76 14.62 15.56 19.11 2.10 0.80
1.08 33.99 1.70 2.24 40.00 14.85 16.10 19.50 2.49 0.90
0.85 33.35 1.61 2.07 39.50 13.70 14.75 19.50 2.10 0.85
Close 1,172.05 Listed cap 95,369.29 mn Payout (%) 104.13
Change -14.73 Market cap 97,043.89 mn Div Yield (%) 8.39
Close Chg
Volume
Last 60 days High Low
0.94 33.44 1.61 2.09 39.53 14.09 15.14 19.50 2.32 0.90
33615 684960 44032 138532 119400 5545615 6725389 500 3311324 10001
1.45 37.24 2.25 2.50 42.95 14.85 16.10 23.49 3.00 1.58
-0.01 -0.43 -0.03 -0.10 -0.23 -0.53 -0.42 0.39 0.22 0.10
0.51 32.75 0.70 1.92 38.35 9.50 9.25 18.70 2.05 0.33
% Change -1.24 5-Day High 1,192.09 5-Day Low 1,172.05
2009 Div BR (%) (%) 33.5 64.5 20 3
31R -
Open 829.56 Turnover 19,425 P/E (x) 91.73
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,814.89 Turnover 412,456 P/E (x) 11.24 Company Sui North Gas Sui South GasXDXB
High Low 1,829.30 1,743.19 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 11.41
Close 1,759.26 Listed cap 12,202.80 mn Payout (%) 66.79
Change -55.64 Market cap 37,736.51 mn Div Yield (%) 5.94
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 8390
9.47 3.64
32.31 25.20
32.75 25.30
31.50 23.95
31.81 -0.50 24.16 -1.04
184262 228194
33.40 30.70
25.00 16.00
% Change -3.07 5-Day High 1,820.63 5-Day Low 1,724.31
2009 Div BR (%) (%) -
-
2010 Div BR (%) (%) 20 15
25B
BANKS Performance of SR Banks Index Open 1,027.58 Turnover 20,190,380 P/E (x) 7.16 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 5.38 56.35 Askari Bank 6427 7.36 15.61 Atlas Bank 5001 1.76 Bank Alfalah 13492 12.36 9.70 Bank AL-Habib 7322 6.90 31.99 Bank Of Khyber 5004 4.67 3.54 Bank Of Punjab 5288 8.65 BankIslami Pak 5280 805.00 3.32 Faysal Bank 6091 3.48 14.11 Habib Bank Ltd 10019 6.34 102.16 Habib Metropolitan Bank 8732 6.16 20.43 JS Bank Ltd 6128 2.65 KASB Bank Ltd 9509 2.43 MCB Bank Ltd 7602 8.98 203.17 Meezan Bank 6983 7.99 15.29 Mybank Ltd 5304 2.15 National Bank 13455 5.42 67.72 Network Mic Bank 300 0.92 NIB Bank 40437 2.80 Royal Bank Ltd 17180 6.88 Samba Bank 14335 2.00 Silkbank Ltd 26716 2.69 Soneri Bank 6023 7.35 Stand Chart Bank 38716 10.05 6.50 Summit Bank Ltd 5000 2.90 United Bank Ltd 12242 6.62 56.51
High
High Low Close 1,038.81 1,008.53 1,017.80 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.96 13.45 34.35 Low
Close Chg
Volume
56.75 55.00 55.36 -0.99 15.80 15.40 15.45 -0.16 1.80 1.70 1.71 -0.05 9.80 9.23 9.27 -0.43 32.10 31.75 32.00 0.01 4.49 3.16 3.50 -0.04 8.85 8.40 8.42 -0.23 3.44 3.16 3.22 -0.10 15.11 14.60 15.11 1.00 102.75 100.65 101.55 -0.61 20.75 19.85 20.13 -0.30 2.68 2.50 2.64 -0.01 2.60 2.31 2.48 0.05 204.00 201.15 202.55 -0.62 15.25 15.01 15.10 -0.19 2.20 2.05 2.10 -0.05 67.95 64.50 64.61 -3.11 1.02 0.99 1.02 0.10 2.93 2.65 2.71 -0.09 7.86 6.65 7.25 0.37 2.05 1.92 1.99 -0.01 2.70 2.61 2.64 -0.05 7.90 7.30 7.75 0.40 6.70 6.50 6.53 0.03 3.00 2.80 2.81 -0.09 56.90 56.00 56.23 -0.28
Change -9.78 Market cap 616,727.72 mn Div Yield (%) 4.80
Last 60 days High Low
755964 58.70 263476 16.96 43172 2.84 2691115 10.19 197601 33.75 29287 4.49 734227 10.38 23292 3.69 250455 15.11 120373 108.50 5067 23.30 98850 2.90 2225 3.70 869898 212.25 11856 15.95 49285 2.79 9535784 73.22 5502 1.95 1605425 3.25 760841 11.99 100001 2.65 1531373 3.30 339881 7.90 25450 8.00 147909 3.78 139980 59.24
48.51 13.99 1.52 7.32 29.10 2.50 7.35 2.31 12.75 92.00 18.02 2.00 2.03 180.40 13.80 1.62 60.51 0.26 2.42 5.20 1.55 2.15 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
% Change -0.95 5-Day High 1,037.29 5-Day Low 1,017.80
20 - 20B - 66R 55 -63.46R 10 -
NON LIFE INSURANCE
Paid up Cap(mn)
Company Adamjee Insurance
PE
1237 20.15
Open 67.75
High 69.99
High Low 688.10 656.86 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 5.20 Low 66.50
Close Chg 69.53 1.78
Close 670.23 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 867425
Change -5.04 Market cap 42,770.94 mn Div Yield (%) 7.24
Last 60 days High Low 89.38
63.05
2009 Div BR (%) (%) 30
10B
% Change -0.75 5-Day High 711.32 5-Day Low 670.23 2010 Div BR (%) (%) 10
-
33.00 11.24 4.00 41.55 11.50 83.00 54.84 14.24 3.14 9.22 6.51 7.42
-0.52 0.73 -0.05 -2.18 0.01 0.00 -1.80 -0.65 0.14 -0.08 0.10 0.36
5329 10520 1001 32481 3725 1615 339 541566 997 1532 180 603
35.00 11.99 7.90 54.22 13.89 86.69 60.50 18.16 4.16 10.25 7.70 10.00
27.10 9.42 3.15 34.76 10.04 66.02 52.21 12.50 1.66 8.00 6.05 6.00
40 40 35 35 30 30 20 -
10B 8.7B 20B 15B 20B
10 -
UPTO 100 VOLUME
20B -
High Low 850.53 826.50 Total cos Defaulter cos P/BV (x) ROE (%) 3.53 3.85
Close 827.36 Listed cap 2,290.72 mn Payout (%) 355.53
Change -2.20 Market cap 9,409.49 mn Div Yield (%) 3.88
Symbols FPRM DATM AASM KSTM AGSML PCAL SEPL JUBS PMTFC6 FIBLM SCLL PRWM GATI SLCL FRCL BCL CICL NESTLE MFTM NATM ADAMS AABS HUSS SANSM TSML WAZIR MACFL BCML KOHS MQTM CWSM DYNO ISIL UPFL FDMF FNEL LMSM MUREB GRYL GUSM YOUW SURC SAPT PHDL ESBL EWLA ELSM NAGC STML GAIL NOPK SCL TRSM DCM ALICO AGIC DMTM IDSM JATM CRTM NCLNCP HUSI CSUML FECS PMRS MLCFPS KOHE ATEL MDTL SAPL
% Change -0.27 5-Day High 871.21 5-Day Low 827.36
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
EFU Life Assurance XB
850 36.78
71.24
72.99
67.68
67.68 -3.56
4764
82.99
51.25
5513.33B
-
-
New Jub Life Insurance
627 28.19
40.90
42.00
42.00
42.00 1.10
14658
45.20
34.50
10
-
2009 Div BR (%) (%)
2010 Div BR (%) (%) -
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 372.97 Turnover 12,674,319 P/E (x) 0.45 Paid up Cap(mn)
Company
High Low 385.36 366.98 Total cos Defaulter cos P/BV (x) ROE (%) 0.17 37.22
PE
Open
High
Low
225 360 3.34 450 12.89 3750 4.27 40 7.24 250 First Credit & Invest Bank Ltd 650 12.71 IGI Investment Bank 2121 13.06 Invest and Fin Sec XD 600 711.00 Invest Bank 2849 Ist Cap Securities XB 3166 1.59 Ist Dawood Bank 626 0.65 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap XD 500 7.39 JS Investment 1000 24.63 KASB Securities 1000 Orix Leasing 821 4.05 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Trust Inv Bank 586 -
0.60 17.00 25.51 23.48 12.00 1.80 3.01 2.04 7.25 0.76 3.71 1.92 9.97 3.09 27.97 5.99 4.24 5.50 1.93 0.55 1.41
0.69 17.00 26.00 23.74 11.00 1.98 3.05 2.10 7.18 0.90 4.20 1.93 10.17 4.09 29.36 6.05 4.35 5.70 2.49 0.59 1.75
0.64 16.45 25.20 23.10 11.00 1.60 3.05 2.01 6.76 0.63 3.83 1.81 9.82 3.10 26.58 5.80 4.07 5.51 1.84 0.58 1.50
AMZ Ventures Arif Habib Investments Arif Habib Limited XB Arif Habib Securities Arpak Int Dawood Equities
Close Chg 0.65 16.96 25.27 23.23 11.00 1.91 3.05 2.09 7.11 0.66 3.86 1.83 9.88 4.07 27.48 5.91 4.10 5.51 2.29 0.58 1.50
0.05 -0.04 -0.24 -0.25 -1.00 0.11 0.04 0.05 -0.14 -0.10 0.15 -0.09 -0.09 0.98 -0.49 -0.08 -0.14 0.01 0.36 0.03 0.09
Close 373.31 Listed cap 30,336.44 mn Payout (%) 4.60
Volume 4019 59256 67154 806494 6349 56901 3000 8015 10006 21946 61126 148612 3390356 5341834 3173 146079 66001 9000 2458857 5500 3554
Change 0.34 Market cap 26,495.02 mn Div Yield (%) 10.17
% Change 0.09 5-Day High 387.17 5-Day Low 372.85
Last 60 days High Low
2009 Div BR (%) (%)
1.10 20.99 45.30 34.99 16.37 2.91 4.50 2.30 9.00 1.00 5.29 2.84 13.72 5.71 40.50 7.69 5.25 5.95 2.50 1.70 3.25
15 25B 30 - 11.5 - 10B -243.778B 10 150 -231.08R -
0.42 13.00 24.62 20.90 4.00 1.51 2.00 1.17 6.70 0.44 2.54 1.17 8.80 1.96 24.25 5.10 3.20 3.66 1.35 0.40 1.24
2010 Div BR (%) (%) 20B 20B 10B -
EQUITY INVESTMENT INSTRUMENTS Open 1,057.80 Turnover 3,770,122 P/E (x) 6.56 Paid up Cap(mn)
Company
1st Fid Leasing AL-Meezan Mutual F. XD AL-Noor Modaraba XD Atlas Fund of F. SPOT B R R Guardian Mod. Constellation Modaraba Crescent St Mod. XD Elite Cap Mod. XD Equity Modaraba First Capital Mutual F. Golden Arrow XD H B L Modaraba XD Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba XD Meezan Bal. Fund XD Mod Al-Mali Pak Modaraba XD Pak Prem Fund Pak Strat FundSPOT PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st XD Punjab Modaraba Stand Chart Modaraba Tri-Star 1st Modaraba U D L Modaraba XD
264 1375 210 525 780 65 200 113 524 300 760 397 1008 3180 1186 283 1200 184 125 1698 3000 1000 2835 2841 872 340 454 212 264
High Low 1,078.87 1,048.74 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 4.09
PE
Open
High
Low
8.75 5.14 4.08 1.41 2.70 3.07 1.58 3.80 7.56 5.00 1.92 2.08 5.23 36.38 10.18 1.35 5.38 11.40 1.51 11.39 7.05 1.65 5.14 4.38 2.37 7.24 4.41 4.47 2.80
1.50 6.18 2.50 3.50 1.27 1.79 0.65 1.86 1.29 4.52 2.61 6.33 6.24 2.80 2.88 1.84 5.99 1.00 0.70 8.01 7.15 5.63 8.09 3.86 0.98 1.58 8.80 1.94 5.39
1.46 6.20 2.80 3.50 1.19 1.88 0.86 2.47 1.50 5.50 2.79 6.25 6.20 2.95 3.09 1.84 5.60 1.20 0.85 8.28 7.50 5.70 8.13 3.95 0.99 1.52 9.00 1.70 5.43
1.40 6.05 2.45 3.50 1.06 1.30 0.61 2.47 1.21 4.65 2.61 6.22 6.02 2.80 2.80 1.84 5.60 1.00 0.81 8.10 7.27 5.65 8.00 3.85 0.88 1.50 8.65 1.11 5.34
Close Chg 1.40 6.17 2.45 3.50 1.19 1.35 0.63 2.47 1.21 4.65 2.69 6.25 6.07 2.91 2.85 1.84 5.60 1.14 0.83 8.20 7.33 5.68 8.02 3.85 0.90 1.52 9.00 1.70 5.38
-0.10 -0.01 -0.05 0.00 -0.08 -0.44 -0.02 0.61 -0.08 0.13 0.08 -0.08 -0.17 0.11 -0.03 0.00 -0.39 0.14 0.13 0.19 0.18 0.05 -0.07 -0.01 -0.08 -0.06 0.20 -0.24 -0.01
Close 1,060.58 Listed cap 29,771.58 mn Payout (%) 104.19
Change 2.78 Market cap 17,402.39 mn Div Yield (%) 27.94
% Change 0.26 5-Day High 1,060.58 5-Day Low 1,056.87
Volume
Last 60 days High Low
2009 Div BR (%) (%)
505 14301 248 6821 16221 1097 169365 260 86019 69076 132006 15121 8551 32095 415341 256 3000 20810 8893 622958 1899542 54555 34403 86866 26500 2653 4006 2502 36000
2.24 7.25 3.44 4.50 1.67 2.99 1.10 3.00 1.50 5.50 3.88 6.80 7.44 3.70 3.98 2.00 7.00 2.18 1.40 9.86 8.10 5.99 10.05 4.98 1.20 2.00 10.99 7.12 6.99
4.5 5 20 10 16.5 10
1.01 5.85 2.10 2.53 0.90 0.90 0.16 1.65 0.76 0.99 2.32 4.80 5.56 2.65 2.31 0.52 5.30 0.56 0.30 7.00 6.01 4.00 7.60 3.50 0.70 0.57 7.75 0.50 4.71
Open 8.25 0.36 29.17 0.85 6.00 52.00 40.00 3.46 96.49 1.92 2.59 13.90 43.50 2.39 2.93 46.22 51.66 1949.06 0.95 9.70 13.95 95.00 11.00 14.00 32.53 6.87 2.80 15.90 3.80 9.01 1.41 11.30 75.68 1050.00 1.70 9.40 2.13 74.54 1.10 5.01 1.03 31.00 94.30 38.01 2.25 2.75 20.25 14.90 16.75 4.60 21.09 49.90 1.50 1.43 18.09 10.95 3.99 3.48 3.00 23.00 18.77 9.40 3.18 44.83 35.00 6.90 21.50 18.88 54.90 130.50
High 8.01 0.36 27.72 0.80 6.99 52.00 40.00 3.46 87.00 2.90 2.59 14.88 43.88 2.39 3.89 47.85 53.80 2044.00 0.95 8.70 13.99 95.00 12.00 13.80 32.00 7.86 3.00 16.90 3.60 9.70 1.76 11.85 75.89 1050.00 1.89 9.94 1.13 74.50 2.10 5.75 1.28 31.85 89.80 38.00 2.95 2.94 20.65 15.00 16.00 4.95 21.89 47.46 2.17 1.54 18.09 11.00 4.70 4.00 4.00 23.90 19.49 9.90 3.87 47.00 36.50 7.89 22.00 19.88 57.00 134.00
Low
Close
8.01 0.36 27.72 0.80 6.49 52.00 39.10 3.46 87.00 1.06 2.59 13.20 41.33 2.39 2.01 44.80 52.00 1915.01 0.95 8.70 13.99 95.00 12.00 13.80 32.00 7.86 3.00 16.90 3.60 8.05 1.00 11.84 72.01 1000.00 1.88 8.40 1.13 74.50 1.03 5.30 1.05 31.05 89.80 36.11 2.50 2.26 20.65 15.00 16.00 4.36 21.89 47.46 2.17 1.54 18.09 10.95 4.70 3.45 3.00 23.75 19.49 9.90 3.87 47.00 36.50 7.89 21.90 19.88 57.00 134.00
8.01 0.36 27.72 0.80 6.49 52.00 40.00 3.46 87.00 1.06 2.59 14.30 41.33 2.39 3.80 45.54 52.00 1973.48 0.95 8.70 13.99 95.00 12.00 13.80 32.00 7.86 3.00 16.90 3.60 8.10 1.76 11.84 75.89 1000.00 1.88 9.63 1.13 74.50 1.03 5.53 1.25 31.85 89.80 37.37 2.50 2.60 20.65 15.00 16.00 4.95 21.89 47.46 2.17 1.54 18.09 10.95 4.70 3.45 3.00 23.75 19.49 9.90 3.87 47.00 36.50 7.89 21.90 19.88 57.00 134.00
Change
Vol
-0.24 0.00 -1.45 -0.05 0.49 0.00 0.00 0.00 -9.49 -0.86 0.00 0.40 -2.17 0.00 0.87 -0.68 0.34 24.42 0.00 -1.00 0.04 0.00 1.00 -0.20 -0.53 0.99 0.20 1.00 -0.20 -0.91 0.35 0.54 0.21 -50.00 0.18 0.23 -1.00 -0.04 -0.07 0.52 0.22 0.85 -4.50 -0.64 0.25 -0.15 0.40 0.10 -0.75 0.35 0.80 -2.44 0.67 0.11 0.00 0.00 0.71 -0.03 0.00 0.75 0.72 0.50 0.69 2.17 1.50 0.99 0.40 1.00 2.10 3.50
100 100 100 93 77 71 65 64 60 45 44 40 39 32 32 28 27 22 13 10 10 10 10 10 10 10 10 8 8 7 6 6 6 6 5 5 5 5 3 3 3 3 3 3 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
Performance of SR Equity Investment Instruments Index
2010 Div BR (%) (%)
Performance of SR Non Life Insurance Index Open 675.27 Turnover 1,467,341 P/E (x) 10.99
Paid up Cap(mn)
Company
2010 Div BR (%) (%) 50 - 7.8R 50 20 -
32.10 11.00 3.15 41.55 11.00 83.00 53.81 14.10 3.12 9.21 6.51 7.05
Performance of SR Life Insurance Index
ELECTRICITY High Low 1,196.49 1,166.61 Total cos Defaulter cos P/BV (x) ROE (%) 1.16 9.35
33.50 11.50 4.00 43.45 12.35 86.69 55.99 14.98 3.15 9.60 6.51 7.90
LIFE INSURANCE
-
Performance of SR Electricity Index Open 1,186.78 Turnover 16,613,369 P/E (x) 12.41
33.52 10.51 4.05 43.73 11.49 83.00 56.64 14.89 3.00 9.30 6.41 7.06
Symbols
NBP-NOV 68.26 DGKC-NOV 27.09 FFBL-NOV 30.50 DGKC-OCT 27.02 PSO-NOV 266.05 NBP-OCT 67.79 PTC-NOV 18.99 POL-NOV 245.65 MCB-NOV 203.29 POL-OCTB 245.07 NML-NOV 52.66 ENGRO-NOV 175.92 ANL-NOV 11.13 NML-OCT 52.16 MCB-OCT 203.35 OGDC-OCT 154.03 ENGRO-OCT 175.79 AICL-NOV 68.31 FFBL-OCT 30.55 ANL-OCT 11.03 PSO-OCT 266.18 OGDC-NOV 153.15 PPL-OCT 186.74 NCL-NOV 21.50 AICL-OCT 68.03 PPL-NOV 188.15 LUCK-NOV 72.56 LUCK-OCT 72.14 NETSOL-NOV 19.23 BOP-NOV 8.77 BOP-OCT 8.65 UBL-NOV 56.68 UBL-OCT 56.60
2010 Div BR (%) (%)
- 18.5 5 2.2 0 1.2 5 17 11 21 5 10 2.8 - 15.5 3 - 18.6 - 11.53 10 20 10 3 1 17 - 12.5
Open
-
High 68.25 27.85 31.60 27.75 268.00 68.50 18.63 245.44 203.75 244.40 52.59 176.69 11.33 52.25 203.95 155.00 176.50 70.34 32.07 11.40 267.50 153.00 187.50 21.40 70.40 188.00 73.50 74.00 19.30 9.25 8.50 56.70 56.60
Low
Close
64.91 27.00 30.50 27.00 265.01 64.50 18.40 243.50 202.00 242.20 51.95 175.01 10.89 51.50 202.00 153.00 174.00 67.41 30.50 10.60 264.51 152.15 186.00 21.10 67.09 187.00 72.50 72.11 18.25 9.25 8.50 56.29 56.60
65.09 27.50 31.44 27.35 266.74 64.75 18.43 243.73 203.22 242.66 52.01 175.75 11.06 51.69 203.25 153.69 175.27 69.99 31.16 10.72 265.52 152.79 186.84 21.20 69.67 187.90 73.22 73.18 19.00 9.25 8.50 56.29 56.60
Change -3.17 0.41 0.94 0.33 0.69 -3.04 -0.56 -1.92 -0.07 -2.41 -0.65 -0.17 -0.07 -0.47 -0.10 -0.34 -0.52 1.68 0.61 -0.31 -0.66 -0.36 0.10 -0.30 1.64 -0.25 0.66 1.04 -0.23 0.48 -0.15 -0.39 0.00
Vol 922000 687000 370000 326000 254000 212500 209000 197000 186500 183000 176000 172000 171500 162000 161500 142000 140500 123500 104000 74500 71500 64000 57000 45000 45000 30000 28000 24500 11000 10000 7500 5500 1000
ZERO VOLUME Symbols
Open
High
Low
Close
BWCL DCTL TSMF
23.40 0.60 1.70
23.25 0.50 1.60
23.25 0.50 1.60
23.25 0.50 1.60
Change
Vol
-0.15 -0.10 -0.10
0.00 0.00 0.00
BOARD MEETINGS
National Bank of Pakistan
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
Fair Value
*Arif Habib Ltd AKD Securities Ltd
*Arif Habib Ltd
61.96
Neutral
AKD Securities Ltd
92.3
Positive
TFD Research
Support 1
10,558.10
MA (5-day)
10,659.88
Support 2
10,517.80
MA (10-day)
10,594.59
Resistance 1
10,649.70
MA (100-day)
10,008.17
Resistance 2
10,701.00
Technical Analysis
MA (200-day)
10,005.50
Pivot
10,609.40
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Brokerage House
Fair Value 14
TFD Research
Technical Outlook
Rs Recommendations
TFD Research
14.01
Positive
55.19 9.41 8.87 10.35
Leverage Position Free Float Shares (mn) 318.37 Free Float Rs (mn) 20,569.69 ** NOI Rs (mn) 81.12 Mean 66.20
forecasting oscillators are currently bullish on NBP.
Brokerage House
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
674.58 6,253.34 N/A 9.5
* Target price for Dec-10 & **Net Open Interest in future market
Accumulate Neutral
Leverage Position
72.09 30.40 28.19 29.53
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
Rs Recommendations
44
Buy
AKD Securities Ltd
43.29
Buy
TFD Research
36.85
Positive
326.94 10,187.40 13.04 30.84
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
182.55 4,989.08 29.69 27.26
* Target price for Dec-10 & **Net Open Interest in future market
Rs Recommendations
24.04
Buy
*Arif Habib Ltd
Positive
AKD Securities Ltd TFD Research
30.5
Brokerage House
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
36.35 19.03 18.64 19.62
the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into DGKC (bullish). Trend forecasting
Rs Recommendations
Brokerage House
584.63 10,669.59 11.44 18.50
* Target price for Dec-10 & **Net Open Interest in future market
Rs Recommendations
AKD Securities Ltd
76
Accumulate
189.75
Neutral
TFD Research
88
Positive
218.18
Neutral
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
Hold
194
Technical Outlook
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
displaying an upward trend. Volatility is relatively normal as compared to
Adamjee Insurance Co Ltd
MCB Bank Ltd
Fair Value
DGKC is currently 1.2 per cent above its 200-day moving average and is
oscillators are currently bullish on DGKC.
indicating that FFBL is currently in an overbought condition.
61.10 202.08 195.05 203.07
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
342.10 69,291.69 108.43 202.72
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
48.24 72.04 76.19 94.64
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
74.22 5,160.71 19.61 68.44
* Target price for Dec-10 & **Net Open Interest in future market
BAFL closed down -0.43 at 9.27. Volume was 43 per cent above average PTC closed down -0.49 at 18.25. Volume was 20 per cent below average MCB closed down -0.62 at 202.55. Volume was 5 per cent below average AICL closed up 1.78 at 69.53. Volume was 89 per cent above average and and Bollinger Bands were 28 per cent wider than normal.
and Bollinger Bands were 40 per cent narrower than normal.
and Bollinger Bands were 17 per cent narrower than normal.
Bollinger Bands were 9 per cent wider than normal.
BAFL is currently 10.4 per cent below its 200-day moving average and is PTC is currently 7.0 per cent below its 200-day moving average and is dis- MCB is currently 0.3 per cent below its 200-day moving average and is dis- AICL is currently 26.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to playing a downward trend. Volatility is extremely high when compared to playing an upward trend. Volatility is relatively normal as compared to the displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into BAFL (bullish). Trend forecasting reflect volume flowing into and out of PTC at a relatively equal pace. Trend reflect moderate flows of volume into MCB (mildly bullish). Trend forecast- reflect moderate flows of volume into AICL (mildly bullish). Trend forecastoscillators are currently bullish on BAFL.
forecasting oscillators are currently bearish on PTC.
ing oscillators are currently bullish on MCB.
ing oscillators are currently bullish on AICL.
Time
30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct
12:00 4:00 12:00 11:00 11:00 1:30 12:30 2:00 12:00 11:00 11:30 3:30 2:30 3:00 12:30 10:30 11:00 11:00 11:00 11:00
TECHNICAL LEVELS
Leverage Position
63.08 27.08 25.49 27.01
Date
Agritech Ltd Al- Khair Gadoon Ltd Ali Asghar Textile Mills Ltd Ayesha Textile Mills Limited Azgard Nine Ltd Babri Cotton Mills Ltd Colony Mills Ltd D.S Industries Ltd Dewan Automotive Engineering Ltd Dewan Cement Limited Dewan Farooque Motors Ltd Dewan Farooque Spinning Mills Ltd Dewan Khalid Textile Mills Ltd Dewan Mushtaq Textile Mills Ltd Dewan Textile Mills Ltd Elahi Cotton Mills Limited Faysal Balanced Growth Fund Faysal Income & Growth Fund Faysal Islamic Savings Growth Fund Faysal Savings Growth Fund
Company
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
Technical Outlook
Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
29.1
*Arif Habib Ltd
NBP is currently 2.9 per cent below its 200-day moving average and is dis- FFBL is currently 7.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to playing an upward trend. Volatility is extremely high when compared to the the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into FFBL (bullish). Trend forecasting reflect volume flowing into and out of NBP at a relatively equal pace. Trend oscillators are currently bullish on FFBL. Momentum oscillator is currently
TFD Research
Accumulate
32.06
Brokerage House
Buy
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
AKD Securities Ltd
10.25
Rs Recommendations
NBP closed down -3.11 at 64.61. Volume was 325 per cent above average FFBL closed up 0.77 at 31.16. Volume was 266 per cent above average DGKC closed up 0.36 at 27.33. Volume was 47 per cent above average (trending) and Bollinger Bands were 10 per cent narrower than normal. (trending) and Bollinger Bands were 24 per cent wider than normal. and Bollinger Bands were 25 per cent wider than normal.
Buy
AKD Securities Ltd
Technical Analysis
46.43 66.47 65.61 71.59
Fair Value 33
Pakistan Telecommunication Co Ltd
Bank Alfalah Ltd
*Arif Habib Ltd
Brokerage House
Buy
66.83
KSE 100 INDEX closed down -36.59 points at 10,598.40. Volume was 7 per cent above average and Bollinger Bands were 14 per cent wider than normal. As far as resistance level is concern, the market will see major 1st resistance level at 10,649.70 and 2nd resistance level at 10,701.00, while Index will continue to find its 1st support level at 10,558.10 and 2nd support level at 10,517.80. KSE 100 INDEX is currently 6.0 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 moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX.
Rs Recommendations
78
Dera Ghazi Khan Cement Co Ltd
Fauji Fertiliser Bin Qasim Ltd
Company
Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Limited Arif Habib Securities 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 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 PIAC(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki PSO XD PTCLA Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 41.96 2.95 2.90 61.36 54.65 53.95 27.57 57.15 55.95 37.19 25.00 24.70 47.33 23.00 22.70 48.24 67.35 65.20 54.23 15.30 15.15 52.95 10.65 10.50 34.30 295.80 294.15 70.08 98.85 97.35 55.19 9.05 8.85 50.81 3.10 3.00 49.73 8.25 8.10 49.82 1.45 1.30 63.08 26.95 26.60 58.17 1.60 1.55 61.50 2.75 2.65 50.26 40.90 40.30 48.12 65.90 64.15 47.44 174.80 174.20 70.15 14.75 14.45 43.04 4.75 4.65 72.09 30.50 29.80 44.68 105.95 105.35 54.94 100.55 99.55 43.58 33.20 32.95 51.10 122.65 121.40 55.82 230.50 229.00 75.61 3.40 2.75 53.03 1.60 1.55 60.34 2.55 2.45 44.21 9.75 9.60 39.65 39.35 39.20 47.60 2.00 1.95 57.97 72.50 71.90 61.10 201.15 199.70 45.31 2.75 2.60 46.43 63.45 62.25 61.20 20.50 20.10 50.42 18.45 18.25 42.26 2.60 2.50 54.30 1.45 1.35 60.29 51.30 50.95 68.48 152.40 150.90 58.77 3.05 2.95 71.34 1.95 1.55 55.97 2.20 2.05 50.13 7.65 7.35 54.28 241.45 240.50 51.08 186.15 185.40 42.80 72.45 71.80 47.30 264.65 263.60 36.35 18.05 17.85 23.15 181.25 179.85 55.05 31.30 30.75 76.22 12.15 11.45 39.95 23.65 23.10 46.69 2.20 2.15 48.27 3.95 3.90 66.35 55.85 55.50 38.92 2.35 2.25
1st 2nd Resistance 3.20 3.35 56.40 57.45 60.10 61.85 25.80 26.30 23.60 24.00 70.85 72.15 15.70 15.95 11.15 11.45 299.30 301.15 102.65 104.90 9.65 10.00 3.40 3.55 8.70 9.00 1.65 1.75 27.70 28.10 1.75 1.80 2.90 2.95 42.80 44.10 71.20 74.75 176.15 177.00 15.30 15.45 4.95 5.05 31.65 32.20 107.15 107.85 102.65 103.75 33.85 34.25 125.90 128.00 234.00 236.00 4.40 4.75 1.70 1.75 2.70 2.80 10.10 10.30 39.85 40.20 2.20 2.30 73.45 73.80 204.00 205.40 2.95 3.10 66.90 69.15 21.60 22.25 19.00 19.35 2.85 3.05 1.55 1.65 52.30 52.85 155.20 156.50 3.25 3.40 2.60 2.85 2.55 2.75 8.25 8.50 243.95 245.45 187.45 188.00 74.35 75.65 267.15 268.60 18.65 19.00 184.85 187.05 32.55 33.25 13.45 14.05 25.00 25.80 2.40 2.50 4.10 4.15 56.75 57.30 2.60 2.80
Pivot 3.10 55.70 58.90 25.50 23.35 68.65 15.55 11.00 297.65 101.10 9.45 3.25 8.55 1.55 27.35 1.65 2.80 42.20 69.45 175.60 14.95 4.85 31.00 106.60 101.65 33.60 124.70 232.50 3.75 1.65 2.60 9.95 39.70 2.15 72.85 202.55 2.85 65.70 21.20 18.80 2.75 1.50 51.90 153.70 3.15 2.20 2.40 7.95 243.00 186.70 73.70 266.10 18.40 183.45 32.00 12.75 24.45 2.30 4.05 56.40 2.50
8
Saturday, October 30, 2010
Bipasha launches Aircel in Rajasthan
B
ollywood actress Bipasha Basu today launched Aircel GSM mobile in Rajasthan completing pan-India footprint for the service provider with lowest rates and packages, including pocket internet. Basu, who made her first call from the newly-launched phone to Aircel chief operating officer Gurdeep Singh, said Rajasthan has made tremendous development and growth in IT sector, and will welcome this very service. Singh said Rajasthan was the last destination to come with
MUMBAI: Bollywood actress Sushmita Sen displays a creation from the collection of Vero Moda, Jack & Jones and Only' in Mumbai. Reuters
Oliver Stone honoured at Mumbai Film Festival
A
cademy Award winning director Oliver Stone praised India and its flamboyant Bollywood industry as he accepted a Lifetime Achievement Award at the 12th Mumbai Film Festival. "I came here many years ago to Calcutta as a young man to learn about another way of thinking," Stone said to a standing ovation at one of the oldest movie theatres in the country's financial and entertainment capital. "I returned many times and learned many things from you. You have a great culture and make great movies. I am honoured to receive this award from you." The festival's organisers called Stone the "quintessential rebel child of Hollywood" who
was unchanged by success. "He has never hesitated to tackle any issue however touchy it is. He definitely deserves all our respect," Srinivasan Narayanan, the festival director, told Reuters a few hours before the ceremony. "He is one of the most prolific film makers we have today." Stone's last film, "Wall Street: Money Never Sleeps", the sequel to his 1987 classic, "Wall Street", did modest business. The director said earlier this week he had expected some people would be disappointed. "I think it might disappoint some people that it's not the old 'Wall Street' but I would never remake that film. This is the new Wall Street and it's worse in many ways. It's harder," he said. Stone has won
three Oscars in a career spanning three decades, exploring themes like war, greed and politics. The 64-year-old film maker, who says his main purpose for the visit to India is to introduce local audiences to his 2004 epic "Alexander", screened a re-cut version of the film, running into four hours late on Wednesday. "'Alexander' is a three-year long effort, and the new version changes the structure of the film -- gives them a chance to understand the relationships in the film," Stone told a news conference. The film -- which starred Angelina Jolie, Colin Farrell and Anthony Hopkins, parts of which were filmed in India -- received a mixed response when it was released in 2004.
Bollywood actor Amitabh Bachchan, poses with his family, Aishwarya , Abhishek and Jaya, after receiving the award for the best actor during the 57th National Film Award.
Aircel, and it will cover 23 districts with an investment of Rs500 crore in first phase, and Rs300 crore more in 2011-12. Singh said Aircel would be providing innovative pocket internet cards to customers for unlimited browsing for a period of 30 days at Rs98. He also announced the first 'Pocketapps Store' in association with Infosys this year, with a weekly charge of Rs7 with free download. Besides, pre-paid, post-paid, inbult vas and data, international calling cards, and business pack for SMEs would be provided with new plans on competitive prices, Singh said. Talking about her love for the state, Basu said: "Rajasthan's food, dresses and designs are great. We all love Rajasthan. It is full of culture, beauty and I always love to visit the desert state." On Aircel's 'Save Our Tigers' campaign, she said that it was cruel that tiger population is dwindling due to alleged poaching. The programme needscomplete support of the government and non-government organisations. "I am sure the new generation must be catching up with the campaign," she said. When asked whether she comes on Facebook, Basu said social networking is her passion, as it keeps her hooked to her audience.
I’m not at war with SRK, Salu: Akshay
A
fter 'Housefull' and 'Khatta Meetha', Akshay Kumar is ready with his third release of the year - 'Action Replayy'. This is not all as before the end of 2010, he would also be seen in 'Tees Maar Khan'. While he goes ahead at an unrelenting pace, his contemporaries too have been doing well for themselves. While Aamir Khan has pretty much created a world of his own, especially so after '3 Idiots', Salman has come back with a bang as well after 'Dabangg'. Meanwhile, Shah Rukh is waiting for the kill with 'Ra. 1' and 'Don' lined up. So does one see some good battle beginning once again in 2011 between all these actors when it comes to occupying that top slot? "There are no battles or wars but I'm sure the media will make it a great adventure for us. It's going to be lively for sure", laughs Akshay when asked to comment. Turning serious, he goes on add, "I think all of us are past the 'fight for the top slot' stage. We have created our own slots and are happy doing
O
our own thing." On a different note, while there was so much being said and written about his socalled rivalry with Shah Rukh Khan till about a year or so back, today the focus has shifted to Shah Rukh-Salman tussle. For someone like him who has been known for his non-confrontational image, does it sound all so unnecessary after all? "You said so yourself, I'm non-confrontational. I'd be a fool to comment now, wouldn't I", states Akshay with a straight face before signing off.
Kareena not happy with Rohit Shetty
D
irector Rohit Shetty has carved a niche for himself in the industry with his blockbuster Golmaal series. The last two films were super hits and he made the characters of the film very popular with his unique comedy timing. However, there is one actor or say actress, who is not very happy with the director and she is none other than our very own Kareena Kapoor, who has been associated with the series since the second film. In Golmaal Returns, the second part, Bebo was portrayed as the television serial freak wife Ekta, who keeps on suspecting her husband, played by Ajay Devgn. Their chemistry rocked and the film was a big hit of the year. However, Kareena does not seem to be very happy with the development of the third film. She found the treatment of the film very boring and comic situations very repetitive. She was fed up shooting at the
Mission Impossible 4 termed “Ghost Protocol”: Cruise
same locations again and again. There is a buzz that Bebo is quite miffed with the director Rohit Shetty. According to her, Rohit has given a very out-of-date look to the third film, which is likely to hit the theaters during this festive season of Diwali. The reports suggest that most of the scenes in the film have been shot in Goa. The earlier two films were also shot at the same places and this has annoyed Kareena and that has made her doubt about the directing skills of Shetty. As per the sources, the monotony of locales is not liked by Bebo and she wants the director to take a different approach on the film. A recent report has indicated that Kareena wants Rohit to shoot the film in foreign locales. So, does she want Shetty to shoot the film in her favorite destination Switzerland? Well, this sounds to be a new gimmick to promote the film just before the release!
scar-nominated actor Tom Cruise said that he wanted the fourth installment of action blockbuster "Mission Impossible" to be known by its subtitle: "Ghost Protocol". "All I wanted is not to have a number ... I always thought we should have a title aside from 'Mission Impossible'," Cruise told a news conference in Dubai, where he is currently filming. "It is going to be 'Mission Impossible' and 'Ghost Protocol' -- that will be the title of this film." Major parts of the film will be shot in Dubai, but scenes will also be shot in Moscow, Prague and Vancouver, according to Paramount Pictures, a unit of Viacom Inc. "Dubai is very cinematic so we are happy to be here," Cruise said. "It's almost like sets that you could never afford, so we're very lucky I think to be the first in really photographing Dubai as Dubai," director Brad Bird said. When asked about the type of stunts that will be used in the film, he said: "Big ones, really big ones." The cast include Jeremy Renner, nominated for an Oscar for his role in the 2009 war film "The Hurt Locker". Other actors include Simon Pegg and Paula Patton. Cruise is producing the film with J.J. Abrams who last teamed up with the actor in 2006 for "Mission: Impossible III" with Cruise in the role of super agent Ethan Hunt who battles bad guys and saves the world from evil.
MUMBAI: Indian Bollywood film actress Malaika Arora Khan throws open the Gillette Challenge. -Reuters
Aquarium furniture, crafts, decorating If your child spends hours gazing into his fish tank, then an aquarium-themed bedroom may be just the thing to please your little underwater adventurer. Read on for several fishfriendly decorating ideas that your child is sure to love. Floor- Bath mats are no longer just for the bathroom. Purchase a few fish-shaped bath mats, and scatter them around you child’s room. The no-skid backing makes them ideal for use in a kid’s room! Walls- Turn the walls into a fun play area for your child by magnetizing them! Start by applying magnetic paint to the entire wall. (This product is available at most home improvement centers.) Then, give the walls an underwater feel by painting over top of the magnetic paint with blue paint. Finish by creating several fish magnets to stick on the walls. (This can be accomplished by printing out pictures of fish and applying them to an adhesivebacked magnet.) Cut out around the outline of the fish, and your project is complete. Your child is sure to have hours of fun arranging the fish mag-
nets on his walls! Dresser- Give your child’s dresser a fishy feel by dressing it up with some fish-themed fabric. Purchase a couple yards of fish fabric, and cut out panels to fit the front of each drawer. Then, remove the knobs from the dresser, and apply the fabric with Mod Podge or another heavy duty glue. Finish by screwing the knobs back onto the drawers, and the dress-
er is ready for use. Bed- No aquarium-themed room would be complete without an actual aquarium. To create a focal point for your child’s room, just place a large aquarium at the head of the bed in place of a headboard. Your child will love having his fish close by while he sleeps; and as an added bonus, the aquarium lighting will serve as a nightlight.
Pillows- Give the room a personal touch by creating pillows with pictures of some your child’s pet fish. To complete this project, start by taking pictures of your child’s fish. Then, scan the pictures into the computer, and print them out on iron-on transfer paper (available at office supply stores). Finish by ironing the pictures onto your child’s pillows. Curtains- Add a touch of whimsy to the room by using fish-printed shower curtains for the room’s window treatment. Then, complete the look by applying fish window clings to the windows. You can use store-bought clings or make your own using a stained glass window paint like Gallery Glass. (Visit your local craft store for supplies.) Storage- Create underwater storage for you child’s toys by decorating a storage container to look like an aquarium. Just purchase a large storage tote, and paint water, fish and plant life onto the outside of the container with fabric paint. Note: If you aren’t happy with the way your design turns out, just peel it off, and try again.
9
Saturday, October 30, 2010
Oil slips on economic worry awaiting Fed move
European vegetable oil prices
US Q3 GDP up but tepid growth seen weighing on oil
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Nov10/Dec10 868.00-10.00, Jan11/Mar11 870.00-5.00, Apr11/Jun11 864.00-8.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 860.00-8.00, May11/Jul11 865.00-5.00, Aug11/Oct11 855.00-5.00. SUNOIL: EU dlrs tonne extank six ports option Jan11/Mar11 1370.00, Apr11/Jun11 1350.00, Jul11/Sep11 1370.00. LINOIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1305.00-5.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Nov10 1050.00+0.00, Dec10 1045.00+0.00, Jan11/Mar11 1032.50-7.50, Apr11/Jun11 1030.00-10.00. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1060.00, Jan11/Mar11 1057.50. PALMOIL: RBD dlrs tonne fob Malaysia Dec10 1015.0010.00, Jan11/Mar11 1012.5010.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Dec10 1025.00-10.00, Jan11/Mar11 1022.50-10.00, Apr11/Jun11 1027.50-7.50. PALM STEARIN: Dlrs tonne fob Malaysia Nov10 1000.0010.00, Dec10 1000.00-10.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1440.00-5.00, Nov10/Dec10 1440.00-5.00, Dec10/Jan11 1440.00-5.00, Jan11/Feb11 1440.00-5.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1925.00+0.00. Reuters
NEW YORK: Oil prices fell on Friday after data showing tepid US economic growth in the third quarter left investors cautious ahead of expected monetary easing from the US Federal Reserve. End-of-month positioning and profit taking along with the expiration on Friday of US November refined oil products contracts also were cited as factors pressuring oil, along with disappointing economic data out of Germany and India. The US economy grew at a 2.0 per cent annual rate, up from 1.7 per cent in the second quarter and in line with expectations but unable to chip away at high unemployment. US crude for December delivery fell 95 cents, or 1.16 per cent, to $81.23 per barrel by 1654 GMT. A finish above $79.97 would still allow oil to post a second straight monthly
Tokyo rubber hit 2-wk low TOKYO: Key Tokyo rubber futures fell to a near three-week low as investors followed other commodities markets which lost ground on profit-taking, and kept a close eye on Shanghai rubber futures for clues to market direction. The key Tokyo Commodity Exchange rubber contract for April delivery settled down 9.9 yen or 2.9 per cent at 326.9 yen per kg, after falling as much as 3.5 per cent to a low of 325.1 yen earlier, the lowest for any benchmark since Oct. 12. The benchmark TOCOM contract posted a monthly gain of 5 per cent, narrowing from a 6 per cent monthly gain for September, and ended the week down 1 per cent. The most active Shanghai rubber futures for May delivery closed on Friday at 30,740 yuan ($4,597) per tonne, down 4.9 per cent from the previous close of 32,320. The contract fell as low as 30,520, just above the limit-down of 30,270. Trading volume stood at 1.09 million lots. The most active Shanghai rubber futures fell 1.7 per cent on the week, the biggest weekly drop since midSeptember. -Reuters
gain and the first monthly close above $80 a barrel since April. In London, ICE Brent December crude fell 67 cents, or 0.8 per cent, to $82.92 a barrel. "The initial (GDP) estimate was in line with expectations, but might be seen as strong enough to limit the size of the anticipated Fed move to ease -
- the so called QE2," Tim Evans, analyst at Citi Futures Perspective in New York, said in a note. Investors remain cautious ahead of US mid-term elections next Tuesday and the prospects that the Fed will announce another round of asset buying next Wednesday. Disappointing data out of
Germany, Europe's largest economy, also weighed on oil. Germany's retail sales in September posted their biggest monthly drop in 2-1/2 years. India's domestic oil product sales fell an annual 1.9 per cent in September, its second straight monthly decline, government data showed on Friday. India's crude i m p o r t s declined an annual 21.9 per cent to 10.94 million tonnes or about 2.67 million barrels per day in September when Indian refiners processed 10.2 per cent less oil versus a year ago. The French strike over pension reforms eased further. Workers at the Fos-Lavera oil terminal near the southern French port of Marseille voted to end a month-long strike, and oil tankers will start unloading later on Friday. -Reuters
US cotton settles down NEW YORK: US cotton volume traded in cotton hit a futures finished lower hefty 56,404 lots at 1853 Thursday on fund rolling- GMT, some 131 per cent related sales, with pressure above the 30-day average at from the process of moving 24,379 lots, Thomson Reuters positions out of the spot con- preliminary data showed. tract seen pressuring the marIn China, the Zhengzhou ket into next week, analysts Commodity Exchange's said. benchmark May cotton The market shrugged NY cotton early-trade off the impetus from stronger Chinese cotton ICE December cotton futures prices and the fall in the climbed 3.63 cents to $1.2531 per lb dollar. A weaker green- on volume of 4,852 lots. back would normally give US cotton contracts a futures was last traded at boost. 27,825 yuan per tonne, up "It's the index fund roll," 705 yuan from the previous said Mike Stevens, an inde- close. pendent cotton analyst in Analysts said the cotton Louisiana. "They (the index market remained fundamenfunds) are selling December tally bullish because of strong cotton contract and buying demand for the fibre, tight March and putting pressure stocks and the willingness of on the market," he said. The funds to keep investing in market had risen nearly 80 fibre contracts because they per cent since the start of its believe it will remain firm. rally in July to an all-time For the first time in six record of $1.305 this week. weeks, the volume of US cotOver the last two days, cotton ton export sales slowed futures had dropped over 6 down. The US Agriculture per cent in value as the roll Department's weekly export began in earnest. sales report showed total US ICE Futures US key cotton sales at 300,800 runDecember cotton contract ning bales (RBs, 500-lbs dropped 1.91 cents to end at each), the first time it had $1.2168 per lb, three ticks fallen below 570,000 lots in above the day's low. Total over five months. -Reuters
Copper weakens on risk reduction, Fed eyed LONDON: Base metals fell on Friday and copper touched a three-week trough, as markets cut risk and investors turned cautious ahead of next week's pivotal Federal Reserve meeting. Three-month copper on the London Metal Exchange closed at $8,199 a tonne, having earlier fallen to $8,140, its lowest since Oct. 8, from $8,340 at the close on Thursday. Earlier this week the Metal used in power and construction reached $8,549 a tonne, its highest since July, 2008. The main market focus remains what the Federal Open Market Committee (FOMC) will decide at its meeting of Nov. 2-3 about the possibility and scale of a new round of quantitative easing (QE). Aluminium, tin and nickel sank to their lowest in around a month while zinc and lead fell by some 4 per cent earlier in the session. Investors eyed US economic growth figures, with GDP edging up as expected in the third quarter, but not enough to chip away at high unemployment or change perceptions of more monetary easing from the
Federal Reserve next week. Meanwhile, the Institute for
Shanghai metals lower Shanghai copper fell 2 per cent to 62,400 yuan, while Shanghai zinc closed down 4.7 per cent at 19,385 yuan, just 100 yuan above its downside limit. Supply Management-Chicago said on Friday its index of Midwest business activity rose in October and beat analysts' expectations. LME inventories of copper rose by 475 tonnes, the latest data showed, with total inventories at 368,500 tonnes, reflecting a slowdown in the pace of decline. However, LME stocks have fallen by a third from cycle highs above 555,000 tonnes in mid-February. In other metals, inventories of tin and zinc also grew, data showed. Zinc stocks have
jumped by over 15,000 tonnes into New Orleans this week. A trader said that most industries are well supplied with Metal and will want to keep low levels of inventories over the end of the year, which will curb demand for physical Metal. Aluminium fell as low as $2,305 a tonne, its lowest since Oct. 1, and closed at $2,345 from $2,347. The United States on Thursday slapped an additional 59.31 per cent duty on imports of a key aluminium product from China. Nickel closed at $22,990 a tonne, from a bid of $23,100. It earlier fell as far as $22,661, a one-month low. Lead was at $2,448 a tonne, down from $2,505.50, while zinc closed at $2,423 a tonne, a decline from $2,494. Tin tumbled to $25,050 a tonne at one point, its cheapest since Oct. 5, later closing at $25,600 from a close of $26,250. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for October 28 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1245
1185
October (3rd Wednesday)
1195
1125
November (3rd Wednesday)
1210
1125
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for October 28 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2190 2191 2190 2195 2130 2140 2130 2140
2307 2308 2337 2338 2382 2387 2433 2438
8331 8332 8339 8340 8145 8155 7735 7745
2478 2480 2503 2505 2467 2472 2433 2438
23075 23080 23100 23105 22675 22775 21725 21825
TIN
26290 26300 26250 26300 25700 25750
ZINC NASAAC
2463 2464 2492 2493 2518 2523 2483 2488
2200 2210 2240 2250 2290 2300 2345 2355
KATHMANDU - NEPAL: Nepalese farmers thresh and winnow rice grain with the help of oxen at a paddy field in the village of Arghaun in Pokhara, some 200 kms west of Kathmandu. -Agencies
Coffee up on supply concerns LONDON: Coffee futures prices rose on Friday, consolidating recent gains to trade slightly below peaks touched earlier this week, supported by supply concerns in key producers Vietnam and Colombia. ICE front-month raw sugar futures prices rose and touched a nine-month high of 29.80 cents a lb, while cocoa futures slipped with attention focused on Sunday's election in top grower Ivory Coast. Liffe January robusta coffee futures remained in sight of a two-year high of $1,975 a tonne, and traded up $38, or 2 per cent, at $1,952 a tonne in reasonable volume of 6,868 lots at 1444 GMT. ICE December arabica coffee was near its 13-year high of $2.0460 a lb, and was up 4.6 cent or 2.3 per cent at $2.0120 a lb. The arabica market has been underpinned by years of lower than expected production from Colombia, and robustas are in firm demand due to the high premium on arabicas, dealers said. ICE raw sugar futures prices rose 0.79 cent or 2.75 per cent to 29.50 cents a lb, having earlier touched 29.80 cent, a ninemonth high, very near the 29year high of 30.40 cents a lb touched on Feb. 1. Traders attending London Sugar Week events were overwhelmingly bullish on the price outlook for the sweetener and said it seemed inevitable that ICE raw sugar futures would soon test a 30-year high. Dealers said a decision by India, the world's no. 2 sugar producer after Brazil, on whether to allow exports was key to prices in coming weeks. London December white sugar was down $1.30 or 0.2 per cent at $729.00 per tonne in modest volume of 1,637 lots. Cocoa prices eased as dealers monitored political activity before Sunday's election in top grower Ivory Coast. ICE December cocoa was down $56 or 2 per cent at $2,789 per tonne, while Liffe second-month March cocoa was down 22 pounds or 1.2 per cent at 1,881 pounds a tonne. Reuters
Gold gains towards $1,350 ahead of Fed LONDON: Gold prices rose a touch on Friday as the dollar crept lower ahead of a key Federal Reserve meeting next week, at which the central bank is expected to discuss further US monetary easing. Depending on its scope, a fresh round of quantitative easing could have a major impact on the dollar and inflation outlook, both potentially signifi-
domestic product expanded at a 2.0 per cent annual rate as expected in the third quarter. The data did nothing to reduce expectations the Federal Reserve will commit to a new round of monetary stimulus next week, analysts said. Indian gold buying retreated on Friday after a 1.4 per cent rise in spot prices in the previous session as most traders
cant for gold, analysts said. Spot gold was bid at $1,346.61 an ounce at 1413 GMT, against $1,343.35 late in New York on Thursday. US gold futures for December delivery rose $4.40 to $1,346.90. "Next week will be a big one news-wise -- the FOMC, the mid-term elections, as well as non-farm payrolls," said Afshin Nabavi, head of trading at MKS Finance in Geneva. "I think the market was intraday short and saw some stoploss buying, which took the market towards $1,353." The dollar index edged down 0.1 per cent, drifting between positive and negative territory after US data showed gross
waited for a dip to stock up in the run-up to Dhanteras and Diwali next week, dealers said. On the investment side, holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, dipped by just over 5 tonnes on Thursday, bringing its total outflows in October so far to 11.7 tonnes. Elsewhere, palladium rose to a peak of $640.05 an ounce, its highest since May 2001. Spot palladium was later at $637.75 against $622.99. Spot platinum was at $1,697 an ounce against $1,688, while silver was at $24.17 against $23.97. -Reuters
Palm oil eases; losses limited on supply KUALA LUMPUR: Malaysian palm oil futures eased from twoyear highs on Friday although losses were limited late in the session after an official said the government will push a new replanting scheme next year. Global vegetable oil markets fell as cautious investors took profits on fragile economic recovery and uncertainties in the commodity and equity markets while the bruised dollar steadied. The benchmark Malaysian crude palm oil futures ended 0.8 per cent lower at 3,061 ringgit ($984.9) per tonne, easing from the two-year highs hit the previous day. Traded volume stood at 14,397 lots of 25 tonnes each, up from the usual 10,000 lots of 25 tonnes each. A Reuters technical analysis showed a bullish target at 3,194 ringgit per tonne
for Malaysian palm oil is unchanged, as the uptrend continues after a new high at 3,086 ringgit was touched during the previous trading session. Losses were limited after a top Malaysian industry official said the government will carry out new scheme to replant 365,000 hectares of oil palms older than 25 years to lift flagging output. In Asian trade hours, US soyoil for December delivery fell 1.5 per cent ahead on concerns that the US economy may have slowed when third quarter gross domestic data is issued later in the day. The most active September soyoil on China's Dalian Commodity Exchange dropped 2.4 per cent as traders took profits, while awaiting more cues from US Fed meeting next week, said a Shanghaibased oil analyst. -Reuters
Indian sugar rises for 2nd day MUMBAI: India's spot sugar rose for a second straight day on Friday on firmness in overseas markets and as the upcoming Diwali festival lifted retail demand, dealers said. "For last two days demand was good due to Diwali. Stockists were also active," said a member of Bombay Sugar Merchants Association (BSMA). Demand for sugar usually goes up ahead of Diwali, the Hindu festival of lights, which falls in the first week of November. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety rose by 0.42 per cent to 2,600 rupees ($58.6) per 100 kg. New York sugar edged up in early on Friday, as dealers noted the outlook for sugar supplies remained tight, with 2010/11 surplus forecasts being revised lower. India is likely to take a decision on sugar exports after the second week of November, Farm Minister Sharad Pawar said on Wednesday. He said the country is likely to produce 25 million tonnes sugar in 2010/11. -Reuters
National Commodity Exchange Ltd Trading Summary Date
29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010
Commodity
Contract Date
CRUDE100 DE10 CRUDE100 JA11 CRUDE100 FE11 SILVER - SL500 DE10 SILVER - SL500 JA11 GOLD 01oz DE10 GOLD 01oz JA11 GOLD 01oz FE11 GOLD 100oz DE10 GOLD 100oz JA11 GOLD 100oz FE11 GOLD NO10 GOLD DE10 GOLD JA11 Kilo GOLD NO10 Kilo GOLD DE10 Tola Gold50 NO10 Tola Gold100 NO10 Mini Gold 1-Aug Mini Gold 2-Aug Mini Gold 3-Aug Mini Gold 4-Aug Mini Gold 5-Aug TT Gold 1-Sep TT Gold 2-Sep TT Gold 3-Sep IRRI6W 04NO10 Rice IRRI - 6 NO10 RBD Palm Olein NO10 KIBOR3M 10-Dec KIBOR3M 11-Mar
Price Quotation
Open
High
Low
Close
US$ 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 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
82.50 83.25 83.79 23.78 23.80 1336.30 1337.10 1337.90 1335.60 1336.80 1338.60 36875.00 36894.00 36948.00 37100.00 36903.00 43043.00 43033.00 37955.00 37994.00 38008.00 38021.00 37941.00 43750.00 43750.00 43664.00 2402.00 3331.00 4528.00 86.74 86.15
82.60 83.25 83.79 24.22 24.18 1352.90 1353.50 1354.00 1351.10 1350.40 1350.40 37303.00 37312.00 37329.00 37275.00 37284.00 43477.00 43477.00 38327.00 38367.00 38380.00 38393.00 39407.00 44037.00 44083.00 44099.00 2402.00 3345.00 4528.00 86.74 86.15
81.35 82.12 83.41 23.60 23.80 1330.00 1331.00 1333.00 1335.60 1336.80 1338.60 36875.00 36894.00 36948.00 36894.00 36903.00 43043.00 43033.00 37955.00 37994.00 38008.00 38021.00 37941.00 43603.00 43649.00 43664.00 3310.00 3331.00 4497.00 86.74 85.83
82.06 82.80 83.41 24.16 24.18 1349.50 1350.40 1351.40 1349.50 1350.40 1350.40 37303.00 37312.00 37329.00 37275.00 37284.00 43477.00 43477.00 38327.00 38367.00 38380.00 38393.00 39407.00 44037.00 44083.00 44099.00 3332.00 3345.00 4497.00 86.74 85.83
Traded Volume in lots 175 24 340 2,289 1,228 184 15 7 3 1 1 1 -
Previous Settlement Price 81.75 82.53 83.16 24.00 24.02 1340.80 1341.70 1343.50 1340.80 1341.70 1343.50 37052.00 37060.00 37078.00 37024.00 37033.00 43184.00 43184.00 38073.00 38113.00 38126.00 38139.00 38152.00 43741.00 43787.00 43802.00 3310.00 3331.00 4528.00 86.74 85.80
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 82.06 46 82.80 12 83.41 24.16 18 24.18 1349.50 608 1350.40 1,245 1351.40 177 1349.50 4 1350.40 1351.40 37303.00 46 37312.00 7 37329.00 37275.00 37284.00 43477.00 43477.00 38327.00 38367.00 38380.00 38393.00 39407.00 44037.00 1 44083.00 1 44099.00 3332.00 3345.00 4497.00 86.74 85.83 -
FIFA President Blatter displays a brochure containing the FIFA code of ethics
10
Saturday, October 30, 2010
Aisam enters St Petersburg semis KARACHI: Aisam-ul-Haq Qureshi and Rohan Bopanna entered the semi-finals of the St Petersburg Open after erasing their one-set deficit against the Serbian pair Janko Tipsaveric and Viktor Troicki. The Indo-Pak Express managed a 3-6 7-6(4) 10-3 win over their rivals in the quarterfinals of the ATP World Championships. Qureshi and Bopanna had earlier defeated the team of Russian Mikhail Youzhny and Ukrainian Sergiy Stakhovsky in their first round match in the event. The pair will now face their third seed Filip Polasek and Igor Zelenay of Slovakia in the semi-finals.-Agencies
Maradona eyes EPL coaching Monitoring Desk KARACHI: Argentina football legend Diego Maradona has revealed his desire to manage in the English Premier League (EPL). Maradona is seeking a new challenge after parting company with the Argentina national side which he led to the quarterfinals of the 2010 World Cup. The former World Cup-winning captain, who will celebrate his 50th birthday on Saturday, is now seeking a return to management, and admitted he was attracted by England's top flight. He told Sky Sports News: "Yes, I would like to manage in the Premier League. "It has very good teams, an exceptional level and great players. "The only problem is all the teams I like in England have good coaches. "If any important job comes along I will accept it." Maradona has been linked with a number of posts in recent months, including the Aston Villa job, but insists he was never in the running to accept a role. "I want to make it clear that I didn't offer myself for any job, nor did anyone offer me anything," he said.-APP
Butt, Amir confident over appeal hearing KARACHI: Pakistan's Salman Butt and Mohammad Amir are confident their suspensions will be lifted at a hearing in Dubai this weekend, they said on Friday. The pair, suspended last month following allegations of spot-fixing during the recent test series against England, left Karachi with their lawyers to attend the hearing by an independent tribunal of the International Cricket Council. "Obviously we are very hopeful of having these suspensions removed at this hearing as our lawyers have prepared a very strong case," Butt told reporters. "Our lawyers are experienced professionals and have told us this case can be decided quickly." Butt, who captained Pakistan in the test series against England, and fast bowlers Amir and Mohammad Asif were sus-
pended last month after they were linked by the News of the World newspaper to alleged spot-fixing during the fourth test at Lords. The trio appealed against their suspensions but Asif withdrew his appeal on the grounds that he wanted more time to prepare for his challenge. Teenager Amir said he was confident of having his suspension removed. "I have said all along whatever anyone has said that we are innocent and we have done nothing wrong. There is nothing incriminating against us and we will have these suspensions removed soon," Amir said. The left-armer said he was ready to make a quick comeback to the national team for the series against South Africa if his suspension is lifted.-Reuters
London has to strive for “green” Olympics LONDON: London 2012 may fail to deliver on its pledge to be the greenest Olympics ever if it does not address poor air quality and renewable electricity targets, a report said on Friday. Organisers promised to make the Games the most sustainable in recent history, and a report by the London Assembly's environment committee praised the innovative work done to map and reduce the event's carbon emissions and recycle waste. But the report, called "Going for Green," expressed concern that organisers had ditched plans to use wind turbines on the Olympic Park to generate power and failed to secure more electric cars to ferry officials and athletes.
"We remain concerned that this may not be the transformative event we were promised," committee chair Darren Johnson said. The Games are expected to create 8,250 tonnes of waste and 1.1 million tonnes of carbon dioxide equivalent emissions. The report warned air quality on key transport routes could fail European Union standards unless the mayor introduces emergency measures during Games-time. It recommended the government took action before then. It also recommended organisers work with ticket distributors as well as coach and rail companies, where possible, in an effort to cut down on airplane carbon emissions.-Reuters
Akhter sends Smith to hospital ABU DHABI: South African captain Graeme Smith was taken to hospital for an X-ray on Friday evening after a bouncer from speedster Shoaib Akhtar struck him on the back of palm in the first Day/ Night International against Pakistan at Sheikh Zayed Stadium here. "He (Smith) has been taken to the hospital for a precautionary x-ray after he was struck on the left hand," South African Media Manager said. Physiothrapist rushed to the ground after Smith was struck on the hand in the fifth over of the match as South Africa were chasing Pakistan's modest total of 204 to take the 1-0 lead in the series. "We can only comment on the extent of Smith's injury or otherwise after receiving the xday report," the Media Manager commented. After receiving the ball on the hand and getting treatment on the ground, lanky left handed batsman Smith came off the ground in pain and was rushed to the hospital. This is the third time, Graeme Smith had been hit on the hand and twice he broke his knuckle in last 18 months.-APP
KARACHI: Group photo of finalists of Majeed Khan Memorial Table Tennis tournament 2010 along with Chief Guest Deputy General Manager Management PSO Babar Hashmi, Farhan Essa, Tabish khursheed, Ghalil Mohsin, Abeera Ali and others.-Staff Photo
Australia to launch IPL-style league SYDNEY: Cricket Australia (CA) approved an IPL-style league on Friday but conceded the eight-team event would not be able to rival the financial gloss of the Indian Twenty20 tournament. After the board meeting in Melbourne, chief executive officer James Sutherland said CA were "amenable" to private ownership in the expanded Big Bash League from 2011-12 season but finalising the terms would take more time. "The Board has considered the position of private investment into these teams and taken a view that the board is amenable to that situation," Sutherland told reporters. "It will, over the coming months, consider the terms under which that private investment may take place but the Board is certainly open to that." Local media reports claimed Indian companies were eyeing minority stakes in some of the teams, while Sutherland said the new league would not vie with the glitzy $4 billion IPL. "I don't think we see ourselves as a competitor to the IPL (in terms of player earnings) and certainly the revenues that the Cricket Australia Big Bash League can generate," he said. "In a small market such as Australia it's not going to be the same as the Indian Premier League. But at the same time this league is on the international stage and the teams that play-off in the finals will qualify for the Champions League."-Reuters
China, a likely cricket surprise: Miandad NEW DELHI: Javed Miandad, once India's chief tormentor and later severaltimes coach of Pakistan, thinks the next big thing in world cricket could be China. He is seconded by former India women's team player Mamatha Maben, who thinks China could be challenging "top-rung teams" in about five years' time. Miandad is China's Lahorebased 'Ambassador of Cricket' - directing the Chinese team's preparations for their debut international appearance at the Guangzhou Asian Games that begin on November 12. These days, he is constantly on the phone, giving tips to former Pakistan fast bowler Rashid Khan, former Bangladesh batsman Aminul Islam, and Maben - coaches who are now working with the Chinese men's and women's teams in Guangdong, 160 km from Guangzhou. -Online
Tsotsobe walks away with 4 wickets
Pak yet to find lasting spark Tauseef Mallick KARACHI: Shahid Afridi asked Graeme Smith at the toss on Friday who Lonwabo Tsotsobe was. Having already engineered two top-order collapses in the Twenty20 internationals, Afridi should have known him, but a four-wicket haul that set up an eight-wicket South African triumph in the first ODI should leave him in no more doubt. Lonwabo Tsotsobe has already been responsible for two top-order Pakistan collapses so far on this tour. In the first ODI of an important series in the run-up to the 2011 World Cup at the Sheikh Zayed Stadium, alongside
Johan Botha, Tsotsobe reversed his order of destruction, partaking in a middle and lower-order collapse that shut out Pakistan for a meager 203. The key script was written in the middle overs, the dead air of ODIs at which so many fingers are pointed. Cruising along at 140 for 1, on the back of half-centuries from Mohammad Hafeez and Younis Khan, Pakistan lost the meat of a potentially gamechanging middle order between the 31st and 40th overs. Credit should not be taken from Tsotsobe and company, but to say the bowling was more than standard ODI fare - straight, honest and mixed well - would be to lie.
South Africa moved calmly and inevitably towards the target of 204 runs. A comfortable series-opening win for proteas at the Sheikh Zayed Stadium with contributions from the entire top order steering them to 127 for 1 after 25 overs. They were given the right kind of start by Hashim Amla and Graeme Smith. Neither went on to a substantial score but they comfortably held off an early burst of energy from Pakistan's bowlers. Smith, his bat looking ever more like a toothpick in his hands as the years roll on, was even beginning to locate some of the authority that has deserted him in a fifty-less year.
ABU DHABI: South Africa's Jean Duminy throws the ball during their first one-day international cricket match against Pakistan.-Reuters
“The 11” exercises to reduce soccer injuries NEW YORK: Soccer is one of the world's most popular sports, enjoyed by millions around the globe -- and resulting in millions of injuries each year. But a set of 11 low-impact exercises incorporated into warm-ups can reduce soccer injuries by up to 12 per cent in matches and 25 per cent in training sessions, said a study by researchers working with the Federation Internationale de Football Association (FIFA) and published in The American Journal of Sports Medicine." The injury prevention program, dubbed "The 11" and now updated to "The 11+," is a series of exercises focusing on stability, balance, flexibility and
strength, and designed specifically to prevent soccer injuries. During the study, carried out in Switzerland, the program was integrated into a course required for coaches. A thousand coaches were asked about injuries among their players, then asked again four years later. They were also asked if they were using "The 11" program. Those who said 12.6 per cent of their players had been injured in matches over the previous month, compared to 14.2 per cent of players of coaches who hadn't been using the program. "Even this small per centage, nationwide, has importance," said Jiri Dvorak, FIFA's chief medical officer
and head of the study team. Soccer players tend to rely disproportionately on the quadriceps and inner thigh muscles, which causes most of the most common soccer injuries such as sprained ankles, hamstring and groin strains, and injuries to knee ligaments. Dvorak noted that when millions play soccer, even a difference of 1 per cent has a huge impact, adding that the program is now being implemented in Japan, elsewhere in Europe and in the Americas. In 2003 in Switzerland alone, more than 42,000 soccer injuries were reported, costing millions of dollars and lost working days.Reuters
Wozniacki rises to tennis top slot DOHA: Caroline Wozniacki rolled up her sleeves and battled back from a set down to defeat Francesca Schiavone of Italy 3-6 6-1 6-1 at the WTA Championships on Thursday, sewing up the year-end world number one ranking. Also in the Maroon Group, Australian Samantha Stosur lost 4-6 6-4 7-6 to Russian Elena Dementieva but by winning the first set booked her place in the last four alongside Wozniacki. Belgium's Kim Clijsters also beat Victoria Azarenka of Belarus 6-4 5-7 6-1 to advance to the semi-finals from the White Group along with Vera Zvonareva. Wozniacki needed two wins
at the $4.55 million tournament in the Qatari capital to ensure she could not be caught at the top of the rankings by Russian Zvonareva. After blowing away Dementieva in her group opener, the Dane suffered a shock defeat to Stosur Wednesday to give Zvonareva hope. However, the 20-year-old made no mistake against Schiavone. "Francesca was playing really good in the first set and I didn't have too many
Wozniacki of Denmark reacts to her win over Schiavone of Italy during their WTA Tour Championships tennis match in Doha
chances to break her," said Wozniacki in a court-side interview. "I just hung in there and kept my focus, tried to get a little more aggressive and not let her dictate the game in the second and third." Wozniacki was delighted to finish the year as the world's top player. "That's something I've dreamed about since I was a little girl," she beamed. "I'm really happy and proud of what I've achieved this year."
With maroon and white Qatari flags fluttering above the Khalifa Tennis Complex, conditions were much more comfortable for the players than the oppressive humidity of the first two days. Schiavone came out firing on all cylinders and caught the Dane off guard, tearing around the court after every ball, living and dying every point. The Italian raced into a 4-1 lead, prompting Wozniacki's father and coach Piotr to come out on court for a pep talk, before thumping a trio of aces at 5-3 to reach set point and unleashing a backhand winner down the line to draw first blood.-Reuters
Saturday, October 30, 2010
US GDP growth tepid in Q3, more Fed easing seen WASHINGTON: US economic growth edged up as expected in the third quarter but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week. Gross domestic product expanded at a 2.0 per cent annual rate as consumer spending rose at its fastest pace since 2006, the Commerce Department said on Friday. While consumer spending quickened and business investment continued to expand, much of the rise in demand was met by overseas production and domestic goods continued to pile up in warehouses, suggesting tepid growth in the fourth quarter. "The economy is recovering, but recovering at an anemic pace, and this certainly will help the Fed in its deliberations on Tuesday," said Hugh Johnson, chief investment officer at Hugh Johnson Advisors in Albany, New York. The US economy braked abruptly in the second quarter, when growth slowed to a 1.7 per cent rate, and third-quarter growth matched economists' expectations. Details of the report, which showed core inflation running at its second-lowest level since 1962, reinforced financial market expectations the Fed will announce a second round of bond purchases at its Nov. 2-3 meeting to push interest rates down further to energize the recovery and ward off deflationary pressures. Analysts expect the Fed to announce a fresh round of bond purchases of about $100 billion a month when its meeting concludes on Wednesday. US stocks opened lower, while bond prices rose on the premise of more "quantitative
easing" from the Fed. The dollar extended losses against the yen on the prospect the Fed will need to print more money. The economy is experiencing a slow recovery by historical standards, with unemployment at 9.6 per cent and Americans increasingly nervous about the future. That is expected to shift the country's political landscape in Tuesday's congressional elections, seen as a vote on President Barack Obama's performance on the economy. His Democratic party is expected to suffer big losses. Economists say a growth pace of at least 3.5 per cent, driven by solid domestic demand and exports, over several quarters is needed to bring down high unemployment. A pick-up in consumer spending gave the economy a lift in the third quarter. Consumer spending, which accounts for 70 per cent of US economic activity, increased at a 2.6 per cent rate after rising 2.2 per cent in the prior period. The third-quarter increase was the largest since the fourth quarter of 2006 and added 1.79 per centage points to GDP growth. A separate report showed consumer sentiment weakened a touch in October, dropping to its lowest level in nearly a year and suggesting consumer spending could soften. Output in the third quarter was also supported by a $115.5 billion increase in business inventories after a $68.8 billion rise in the second quarter. Inventories added 1.44 per centage points to growth. Excluding inventories, the economy expanded at a 0.6 per cent pace, slowing from 0.9 per cent in the second quarter. The build up in inventories suggests slower production
ahead, although a report on manufacturing activity in the US Midwest region showed production rising. The GDP report showed business spending continued to grow in the July-September quarter, but the pace slowed from the prior period, with notable moderation in investment in equipment and software after three quarters of robust growth. Spending on equipment and software slowed to a 12.0 per cent rate in the third quarter after a vigorous 24.8 per cent rate in the prior period. However, investment in structures grew for the first time since the second quarter of 2008. Growth was also held back as imports continued to outpace exports. But the trade deficit narrowed somewhat during the quarter, subtracting 2.01 per centage points from GDP growth compared to 3.5 per centage points in the second quarter. Residential construction was also a drag on growth in the third quarter, reflecting the end of a tax credit for home buyers. Government spending made a modest contribution to growth as investment by state and local governments dropped in the third quarter after rising in the prior period. The GDP report showed the Fed's preferred inflation measure, the personal consumption expenditures price index, excluding food and energy, rose at an annual rate of 0.8 per cent in the third quarter. That was the smallest increase since the fourth quarter of 2008 and the second-lowest reading since the fourth quarter of 1962. Fed officials have signaled concern that low inflation could ultimately turn into a pernicious deflation if the recovery does not strengthen.-Reuters
International & Continuation Euro zone German retail sales inflation dip, take edge off up in Oct, seen under growth story control
BRUSSELS: Euro zone consumer prices rose more than expected in October, an estimate showed on Friday, but remained at the European Central Bank's price stability target and inflationary pressures remained muted, economists said. The European Union's statistics office Eurostat said consumer prices in the 16 countries using the euro rose 1.9 per cent in October year-on-year, against 1.8 per cent in September. Economists polled by Reuters had expected annual price growth to remain unchanged at 1.8 per cent. The ECB wants to keep inflation below, but close to, 2 per cent over the medium term. "Inflation has accelerated sharply from levels of around 1 per cent at the start of the year, but this is entirely due to rising food and energy price inflation," said Nick Kounis, head of macroeconomic research at ABN Amro. "Core inflation has been stable at around 1 per cent. Although we do not have a breakdown of the October data, we think that similar trends have remained in place, with underlying inflationary pressures remaining subdued," he said. He also said that given the slack in the economy, slowing wage growth and the rise in the value of the euro, inflation was unlikely to be a danger for some time. Separately, Eurostat said euro zone unemployment rose to 10.1 per cent in September from a downward-revised 10 per cent in August, despite a fall in the number of jobless in the euro zone's biggest economy Germany. Eurostat said the number of people without a job rose by 67,000 in September against August, to 15.9 million people and by 71,000 people to 23.1 million in the whole European Union of 27 countries.-Reuters
BERLIN: German retail sales posted their biggest monthly drop in 2-1/2 years in September, clashing with recent figures that had painted a rosier picture of consumer demand in Europe's largest economy. Sales fell by 2.3 per cent in real terms, preliminary figures from the Statistics Office showed on Friday -- a second monthly drop that clouded a longer view showing sales rose 1.1 per cent in the year to date compared with the same period in 2009. "This is a very weak result. It dampens the expectations that private consumption is taking off like a rocket," said Ralph Solveen from Commerzbank. "However, one should not forget that retail sales data often fluctuate heavily and are revised frequently."
Revisions were indeed the case for the August figures, which were pared down to a 0.4 per cent monthly fall from an initial 0.2 per cent. The data was at variance with recent upbeat indicators that have buttressed hopes Germany's stronger than expected rebound from recession will persist despite the uncertain impact of a fragile global outlook on its traditionally dominant export industries. A survey by market research group GfK on Tuesday showed consumer morale remains at its highest level since May 2008 going into November on expectations of a continuing recovery, bolstering hopes that improved domestic demand will take up much of the slack if export growth runs out of steam.Reuters
Growth resumes in Canada but US woes threaten OTTAWA: Canada's economic recovery picked up speed again in August after stalling in July, but third-quarter growth is still on track to be the weakest since the rebound began, according to figures released on Friday. Statistics Canada said gross domestic product climbed 0.3 per cent in August, bolstered by wholesale trade, manufacturing and oil and gas extraction. GDP shrank 0.1 per cent in July, the first contraction in a year. The August figure matched the forecasts from a Reuters poll, and supported market expectations that the Bank of Canada will keep its key interest rate on hold through early 2011 after three successive
hikes earlier this year. Canadian Finance Minister Jim Flaherty welcomed the August comeback, but said US housing woes remain a threat, and economists also blamed a weak US economy for the slowdown. "At the end of the day, the Canadian economy just can't fight the gravitational pull of sluggish US activity. End of story," said Doug Porter, deputy chief economist at BMO Capital Markets. Canada ships three-quarters of its exports to the United States and its autos and timber industries are particularly vulnerable to swings in demand from the next-door giant.Reuters
11 UK consumer morale unexpectedly improves in Oct LONDON: British consumer confidence unexpectedly improved in October as people grew less nervous about their own finances despite a gloomy economic outlook, a survey showed on Friday. The GfK/NOP consumer confidence barometer rose to -19 in October from -20 in September, confounding analysts' expectations for a further deterioration to -22. Anticipation of painful government spending cuts and uncertainty over the economic recovery has weighed on consumers' mood for much of this year, and October's rise was only the second since February. However, the compilers of the survey urged caution. The responses were collected in the first half of the month, before the government detailed spending cuts to welfare and government services in its Oct. 20 Comprehensive Spending Review. "Confidence has remained reasonably consistent since June but this could change as the public comprehends the full impact of the government's cuts," said Nick Moon of GfK NOP Social Research. The survey showed Britons' perception of their personal financial situation over the coming year rose 3 points to -2, while their perceptions of the economic outlook fell one point to -20. Figures earlier this week showed Britain's economy grew a robust 0.8 per cent in the third quarter of this year -- twice as fast as analysts had expected. But growth is expected to slow sharply going into 2011, when a rise in value-added tax and cuts to public spending cuts will kick in. "As with this week's economic growth figures, the small rise on consumer confidence for October is really only a prelude to what happens next," said Moon.-Reuters
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basic services to people. He said this while talking to media after addressing 5th session of private sector task force at Planning Commission of Pakistan. Finance Minister added that waderas, feudal class, and major business enterprises would have to pay taxes otherwise country would have to rely on more aid or loans.
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Ghias Piracha cautioned that masses lacked the power to purchase expensive fuel, and millions of CNG vehicles were standing idle due to strike.-Online
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process of registering cotton exports early this month after receiving applications equal to the stipulated exportable surplus of 5.5 million cotton bales. Most local dealers believe Indian exporters used suspension of registration as an "excuse" to escape their contracts because of rising international cotton prices in recent weeks. US cotton prices have risen nearly 80 per cent since the start of the rally in July to an all-time record of $1.305 per lb this week. Rising US cotton prices and uncertainty about the Indian contracts have sent cotton prices soaring in the domestic market as well in recent weeks. Domestic cotton was being traded up to 8,500 rupees ($99.60) per maund (37.32 kg) on Friday, according to Naseem Usman, chairman of the Karachi-based Cotton Brokers Forum. Government in April hoped 14 million bales of cotton in the 2010/11 season, compared with about 12.7 million bales the previous year, when the country had to import about 2 million bales of 170-kg each. Because of August floods, government and industry officials now estimate output of about 11.6 million bales, meaning more imports from various sources, including India.India has delayed exports by one month until Nov. 1 after late rains delayed the harvesting process, but Siddik said he did not expect much coming out of that into Pakistan now.India's Farm Minister Sharad Pawar told the annual Economic Editors' Conference on Wednesday that India would review its policy on cotton exports in December.-Reuters
region and we must take maximum advantage of our location not only for our own economic development but also for maximising trade in the region. He said that we need to focus on infrastructure development through encouraging the private entrepreneur to participate actively in such projects for which the finances could be raised though stock exchanges. The President said that Pakistan was keen to upgrade railway line between Pakistan and Turkey for the speedy movement of cargo keeping in view its immense potential and future prospects. He said that he had been pursuing with the Turkish leadership the need for upgrading the existing railway line. The President said that he had proposed that the finances for the project could be raised through stock exchanges in three countries of Japan, Pakistan and Turkey.NNI
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could take up to six months to dry out. The United Nations joined forces in urging donors to come forward, particularly for victims in the south, part of the country's breadbasket. Spokeswoman Stacey Winston said the United Nations and its partner agencies were doing everything possible to help the victims but warned: "It is simply not enough. We need to have more money." "The emergency still continues in Sindh and people are surrounded by water," Winston said, adding that malnutrition, food security, health conditions and shelter are major concerns. She said many areas in Sindh were surrounded by water, which she warned may not go down for another three months. "It is a very major concern to us." The UN Food and Agriculture Organisation said this week it had begun distribution of wheat seed to half a million farming families affected by the floods in order to allow the current planting season to take place.-Agencies
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Chinese government would provide RMB 86.5 million loan for the ground control segment. Speaking on the occasion, Ambassador Masood Khan said the agreement has further Continued from page 12 No #4 promoted Pakistan-China cooperation in the field of science connection with combined PML. and technology and the satellite would become a symbol of "First, he (Musharraf) should become a Muslim leaguer, and Pakistan-China friendship. Pakistan and China share a long then the council (steering committee) may decide about his induc- history of space technology cooperation. Pakistan's first low tion into combined Muslim League", Pagara said in his tradition- orbit satellite, Badr-1 was launched by China in 1990. The al lighter mood. To a question, Pagara said that his party would two countries have continued to enhance their cooperation in remain a coalition partner in Sindh and center despite formation peaceful applications of space technology under an agreeof a combined PML. "We have nothing to do with game number. ment signed in 1991.-NNI Our mission is to unite all the Muslim leagues, and we would go Continued from page 12 No #8 ahead with that. If any one wants to join us, he is welcome, and if "requests" from Pakistan demanding an end to drone not, we have nothing to do with him", he maintained. "I feel very happy that those Muslim leaguers, who had been attacks, however, his body language and talk suggested that the US has no plans to stop drone attacks. Contrary to US dispersed due to different reasons, are getting united", he said. To a question, Pagara said that President Asif Zardari would envoy's contention, various US think tanks have recently admitted that only a few al Qaeda and Taliban leaders have so remain in office until Allah is merciful to him. far been killed in drone attacks as against over 1200 civilContinued from page 12 No #5 ians.Munter observed that the terminology of "do more" is to the President Farhatullah Babar said that the President nothing but a mere misunderstanding. "Do more" means during the meeting advised the government to undertake eco- Pakistan and United States would continue to act and coopernomic policy initiatives saying that our vision was to make ate against terrorists, he said. He said that destabilisation in neighboring Afghanistan Pakistan the hub of regional economic activities. This, he said, was possible through more opening towards would continue to affect Pakistan. The United States wanted China through new strategic communication network, creat- stabilisation in both Afghanistan and Pakistan, he added. Rejecting a common notion about increasing anti-US sentiing special economic zones in which the manufacturers be offered special incentives of access to regional market, cap- ments among Pakistan, particularly because of drone attacks, the US envoy said, "I don't think that Pakistanis do not like tive power and maximum facilitation in their pursuits. The President said the geo-strategic location of Pakistan Americans. We (Americans) have to think and understand makes it an ideal location to be an economic hub for the whatPakistanis actually demand of us."
Pakistan-US friendship was based on the principles of mutual respect and honour, Munter said adding that both Pakistanis and Americans wanted to progress rapidly. To a question Munter said his country wanted to assist Pakistan, not only in trade, but in other sectors as well. He admitted that European Union (EU) had surpassed America vis-Ă -vis trade incentives for Pakistan. He said the United States would continue to help the flood victims, and an international donors conference in this regard would be held in the middle of November. The US ambassador thanked the people of Pakistan for according him a rousing welcome.-Reuters
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whereas the cost of sales also climbed by 11.2 per cent to Rs17.54 billion. Still, gross profit increased by 10.8 per cent to Rs 841 million against Rs 759 million posted for same period last year. ATRL announced profit after tax of Rs583 million (EPS: Rs 6.84) versus loss after tax of Rs396 million (LPS: Rs 4.65) 1QFY10. However, net sales revenue for the period surged by 30 per cent to Rs25.04 billion from Rs19.25 billion. ATRL also posted gross profit of Rs 877 million against gross loss of Rs 523 million for the same period last year.
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elections and the Federal Reserve policy meeting next week. On the week, the index shed 1.8 per cent as investors took profits from its strong run-up since late August. SHANGHAI POSTS BEST MONTH China's key stock index was weighed down by a selloff in brokerages such as Huatai Securities which succumbed to profit-taking after recent gains. The Shanghai Composite Index closed at 2,978.8, after slipping 0.2 per cent on Thursday. Though little changed on the week, the index has surged 12 per cent this month, its biggest monthly gain since July 2009. On a rolling 30-day basis, returns on the Shanghai Composite have this week outstripped the benchmark MSCI Asia Pacific ex-Japan index by the most since November 2009, according to Thomson Reuters data.Analysts said uncertainty over the scale of an expected new round of quantitative easing by the Federal Reserve and the direction of the US dollar have become a key focus for the Shanghai market, pushing the benchmark below the psychological 3,000 mark this week. "This month the index has accumulated large gains so profit taking is very normal," said Zhang Qi, analyst at Haitong Securities in Shanghai. Analysts cited China's robust economic growth and solid third-quarter earnings as positive drivers for the stock market in coming weeks, but cautioned liquidity was key. "In the medium term if more funds flow into the market, I am confident we can have a gradual good upward turn, but before this happens consolidation needs to take place," said Zhang. Reuters
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of declines in more than a year, adding to signs the economy is losing momentum as slowing export growth and a strong yen bite. Hurt by worries about the strength of the yen and its impact on corporate earnings, the Nikkei shed 1.8 per cent in October, its biggest monthly fall since August. It fell 2.4 per cent on the week, also its worst weekly fall in two months. So far this year, the Nikkei has lost nearly 13 per cent, while the Dow Jones industrial average has gained 6.6 per cent and Britain's FTSE 100 is up about 5 per cent. In Asia trade, the yen advanced 0.5 per cent to 80.64 to the dollar, coming closer to a 15year high of 80.41 yen reached earlier in the week and a postwar historic high of 79.75 yen marked in April 1995. Technical sentiment towards the Nikkei faltered as it dropped below the closely watched support of 9,300 for the first time since September 15, traders said, a day when share prices rose sharply after Japanese authorities intervened in the currency market for the first time in six years. Analysts said the Nikkei could now test 9,000, which was last broken on September 8, and then around 8,800, the index's low for the year. "The Nikkei broke below the key support level of around 9,300, partly due to heavy sales of futures at the open, and technically more downward pressure now looks to be in store," said Yumi Nishimura, deputy general manager at Daiwa Securities Capital Markets. Reuters
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Market breadth was negative as declining shares outnumbered advancing ones in a ratio of 2.5:1 on a moderate volume of 434 million shares. The 50-share NSE index firmed 0.5 per cent to 6,017.70 points. Reuters
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scheduled to come in September however due to floods their arrival delayed. Senior officials of Pakistan Air force would be present at Shahbaz Airbase on the arrival of these planes.-Online
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Muttahida Muslim League comes to being as political M&As heat up
Pagara to preside patched-up PMLs Staff Reporter
KARACHI: Veteran Muslim League Leader Pir Pagara speaks during a meeting of Muslim League Alliance at Kingri House. Hamid Chattha, Zafarullah Jamali, Khurshid Kasuri, Ijaz-ul-Haq, Sheikh Rashid Ahmad and others are also seen sitting on the stage. -Online
Rehab, reconstruction at stake: Oxfam
Pakistan warned of flood funds’ crunch ISLAMABAD: Oxfam, the international aid agency, Friday warned Pakistan that flood crisis funds were drying up and a lot is yet to be done. Earlier United Nations had issued a record $2 billion appeal for funds to cope with the worst humanitarian disaster Pakistan has ever faced which devastated an nearly as big as England and affected 21 million people. The World Bank and Asian Development Bank have estimated the damages at 9.7 billion dollars -almost twice those of 2005 earthquake which killed more than 73,000 people. "Funds for the UN flood
appeal are drying up and threatening the aid and reconstruction effort," Oxfam said in a statement marking the third month since heavy monsoon rains began falling in northwestern parts of the country. "The crisis is far from over," said Oxfam's director in Pakistan, Neva Khan. The United Nations issued the funding appeal on September 17 in New York. Officials say around 35 per cent of the appeal has been funded. "Cases of disease are increasing and large areas remain under water in southern Sindh province," said Oxfam. "As winter approaches,
seven million people are still without adequate shelter." UN officials say 10 million people are in need of immediate food assistance and health authorities have reported 99 confirmed cases of cholera. "The funding shortfall is so serious that existing regular food rations to 3.5 million people could be in jeopardy," Oxfam said. Tens of thousands of families, who had sheltered in schools and other buildings, are being newly displaced as schools reopen. Officials warn that some of the worst-affected areas See # 6 Page 11
SBP issues auction calendar, targets Rs80bn
New 3-yr GOP Ijara Sukuk announced
KARACHI: Senior politician and spiritual leader of Hurs, Pir Pagara was elected as president of newly formed Muttahida Pakistan Muslim League, a conglomerate of four PML splinter groups, here on Friday. The merger was announced at a meeting of the four PML factions at Kingri House, the residence of Pir Sahib Pagara. This is the second merger of different PML factions within a month. Former Prime Minister Chaudhry Shujaat Hussain-led PML (Q) and Pir Pagara-led PML (F) had announced a merger last month at Kingri House Karachi, and formed All Pakistan Muslim League, which could last not more than a month. The four factions, which were merged into combined PML, are PML (F), PML (Zia), PML (likeminded), and PML (Awami). Political analysts are not giving much significance to the event as the two major factions, PML (N), and PML (Q), whose combined strength in the National Assembly is 143,
refused to join the new party. The PML (F) is the only group amongst the four factions, which has some roots in Sindh, while the remaining three are known as singleseat groups. Former prime minister, Mir Zafarullah Khan Jamali, whose political affiliation is still a million-dollar question as he was elected as prime minister in 2002 from the PML(Q) platform, but after his resignation he parted ways with Chaudhries, has been appointed as convener of the new party. The advisor to chief minister Sindh, Imtiaz Shaikh has been appointed as coordinator of the combined PML. A nine-member steering committee, led by Mir Zafarullah Jamali, has also been set up to contact other PML groups, including PML(N), and PML(Q), in order to woo them to join the new party. Other members of the committee include, former federal ministers, Shaikh Rashid Ahmed, Makhdoom Ahmed Mahmood, Humayun Akhtar, Jehangir Tareen, Hamid Nasir
Chatha, and Ijaz-ul-Haq. Later addressing a press conference, Pir Pagara said that the four factions would continue to work independently till the legal requirements vis-à-vis formation of a unified party were completed. But all these parties, he made it clear, would remain united at the platform of combined PML. To a question about the absence of Chaudhry Shujaat Hussain, who just a month ago, announced merger of his party into All Pakistan Muslim League along with PML(F), Pagara said he had spoken to Chaudhry Shujaat on telephone, however it seemed if his " younger Chaudhry" (Chaudhry Pervaiz Ellahi) has some "memory problem". But still, Chaudhries would come back soon, he predicted. About Nawaz Sharif, he said he had no contact with the two-time premier, however, he added, he would try to bring him into the new party. Similarly, he said, he had not contacted the former military dictator General (Retd) Pervez Musharraf in See # 4 Page 11
No option but steady, pacy growth: Zardari ISLAMABAD: President Asif Ali Zardari has said that there is no option left with Pakistan except to increase its economic growth dramatically on sustained basis. He said this during his meeting with the members of Task Force on Private Sector Development at Aiwan-e-Sadr on Friday. For this purpose, he said, innovative ideas were needed in communication and infrastructure development which will open up Pakistan to
Central Asia, China and countries in the region on one hand, and with Turkey and the Middle Eastern region, on the other hand. The members of the Task Force included Shahid Javed Burki, former chief economist World Bank Pervaiz Hasan, President Pak-Japan Business Forum Abdul Kader Jaffer, Chairman Nestle Pakistan Limited Yawer Ali, CEO Pakistan Business Council Kamran Y Mirza, and chief of Daud Sons Armoury Noor-ud-Din
F Daud. Secretary General to the President M Salman Faruqui, Deputy Chairman Planning Commission Dr Nadeem-ul-Haq, Senator Syeda Sughra Imam, federal secretaries of Planning Commission, Commerce, Economic Affairs Division and other senior officials were also present besides Spokesperson to the President Farhatullah Babar. Briefing the media, Spokesperson See # 5 Page 11
China to loan for Paksat-IR ISLAMABAD: Pakistan Ambassador to China, Masood Khan signed a loan agreement, on the behalf of Economic Affairs Division, with the Exim Bank of China for the Paksat-1R Satellite ground control segment project in Beijing on Friday. The Paksat-1R would be launched on August 14, 2011 replacing the current communication satellite Paksat 1. It is one of the hallmarks of PakistanChina cooperation, says a press release. A contract for the project was signed between the Suparco and China Great Wall Industry
Rs80 billion. First auction will be conducted on November 8, 2010 and the KARACHI: The State Bank of second auction on December 13, 2010. Pakistan (SBP) Friday announced the Target for both the auctions is Rs 40 issuance of a new 3-year Government billion each. Total value of the asset of Pakistan Ijara Sukuk under which under the present issuance programme the Federal Government plans to raise of GOP Ijara Sukuk is Rs191.43 Rs80 billion in the second quarter of billion. It may be mentioned here that current 2010-2011 fiscal year (FY11). this is the second issuance after the In this regard, the State Bank has successful launch of the first-ever 3issued details of the new GOP Ijara year GOP Ijara Sukuk in September Sukuk issuance programme including 2008 under which Government of details of the underlying asset and the Pakistan raised Rs42.2 billion from the related documentation. Similarly, an 4 auctions conducted from September auction calendar has also been also 2008 to September 2009. announced by the SBP for GOP Ijara This is the first time an auction calSukuk for the 2nd quarter of FY11. endar has been announced for GOP Pak inks pact with Exim Under the calendar, two auctions will Ijara Sukuk along the same lines as is Bank for satellite project be conducted in the second quarter of issued for Treasury Bills and Pakistan FY11 with a total auction target of Investment Bonds.-Agencies Corporation in the presence of President Asif Zardari in Beijing Engro Analysts Briefing in October 2008. The contract for the ground control segment of the satellite was signed in October 2009 durShabbir Kazmi payment of Rs2 per share interim divi- ing Prime Minister Yousuf Raza dend." Gilani's visit to China. A KARACHI: An analyst briefing by Engro Corporation announced its Framework Loan Agreement Engro Corporation Friday maintained financial results for 9MCY10 on between the two governments that Pakistan has satisfactory urea as Thursday posting profit after tax of was signed in June 2010. well as DAP stocks in store. RsRs4.06 billion (EPS: Rs13.41) Under the agreement, the During the briefing the fertiliser- against Rs2.65 billion (EPS: Rs8.93) See # 7 Page 11 maker said that due to subdued registered in the corresponding period demand there may not be any need to last year, nailing a growth of 53.2 per import urea and in case offtake picked cent. up pace, only around 200,000 tonnes Engro Fertiliser profit after tax will have to be imported but there will amounted Rs2.87 billion, nearly 71 per be no need to source DAP. cent of the total profit earned by the ISLAMABAD: Second conExplaining the highlights of holding company. While Engro signment of five F-16 fighter 9MCY10 financial results Ruhail Polymer reported loss, Engro Eximp jets would be arriving today Mohammad, Chief Financial Officer posted profit of around Rs989 million (Saturday) in Pakistan. Engro Corporation said, "bottom line during 9MCY10. Engro Energy also Defence sources told Online of the holding company has improved contributed to this growth by posting a that 5 latest F-16 fighter jets mainly because all the subsidiaries net profit of Rs377 million for the peri- belonging to block 52 families posted good results. This facilitated the od under review. would be landing at Shahbaz Airbase at Jacobabad today. Ambassador Munter visits "Mazar-e-Quaid" US will provide Pakistan with 18 F-16 fighter jets by the end of this year. Out of this three have already reached Pakistan, 5 will come today and the remaining 10 will be handed over to Pakistan by the end of KARACHI: Ignoring the growing carried out only against common December this year. chorus of criticism over the drone enemy of Pakistan and the United These fighter jets would be attacks in the northern tribal belt, the States, Munter said while talking to kept at Shahbaz Air base and newly appointed US ambassador to newsmen after laying a floral wreath at special hangers have been conPakistan, Cameron Munter, has Mazar-e-Quaid along with his wife, structed for them. PAF pilots claimed that these attacks are only upon his first ever arrival in Karachi on have obtained special training meant to target the "common enemy" Friday. from US to fly these planes. of the two countries. Though, the US ambassador did not Sources told that 5 fighter jets " Drone attacks are part of war say anything regarding perpetual that are coming today were against terrorism, and they are being See # 8 Page 11 See # 13 Page 11 Staff Reporter
DAP, urea in sufficiency
Five F-16s arrive today
New US envoy sings old ‘drone-hits-are-right’ tune
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