International Karachi, Tuesday, November 30, 2010, Zil Hajj 23, Price Rs12 Pages 12
Govt will complete its full five years: Sharmila
Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Aug 10)
GDP Growth FY10E Per Capita Income FY10 Population
$16.85bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $569mn Rs 411bn $58.41bn Rs 4863bn $203.80mn -3.85% 4.10% $1,051 171.18mn
161.20 Yearly(Jul, 2010 up to 26-Nov-2010) Monthly(Nov, 2010 up to 26-Nov-2010) 56.48 -3.24 Daily (26-Nov-2010) 3796 Total Portfolio Invest (19 Nov-2010)
NCCPL (U.S $ in million)
Global Indices Index Close KSE 100 11,163.43 Nikkei 225 10,125.99 Hang Seng 23,166.22 Sensex 30 19,405.10 ADX 2,731.22 SSE COMP. 2,866.36 FTSE 100 5,594.60 *Dow Jones 11,021.31 *Last Updated 20:00 PST
Change 18.41 86.43 288.97 268.49 18.45 5.34 74.10 70.69
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)
$.Price PKR/Shares 2.60 111.55 19.00 163.04 2.00 42.91 1.70 36.47 10.63 36.49
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
15-Nov-2010 15-Nov-2010 15-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010
12.86% 13.20% 13.30% 14.00% 13.03% 13.14% 13.41% 13.73% 13.83% 13.70% 13.76% 13.88% 14.23% 14.34% 14.51%
Commodities *Crude Oil (brent)$/bbl 85.94 *Crude Oil (WTI)$/bbl 84.04 *Cotton $/lb 114.10 *Gold $/ozs 1,361.80 *Silver $/ozs 26.79 Malaysian Palm $ 1,075 GOLD (NCEL) PKR 37,489 KHI Cotton 40Kg PKR 9,109 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 82.40 Canadian $ 83.80 Danish Krone 14.50 Euro 113.70 Hong Kong $ 10.90 Japanese Yen 1.003 Saudi Riyal 22.60 Singapore $ 65.60 Swedish Korona 12.65 Swiss Franc 86.95 U.A.E Dirham 23.05 UK Pound 134.00 US $ 85.60
82.50 83.90 15.00 114.00 11.00 1.029 22.70 65.70 12.75 87.05 23.50 135.00 85.90
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
82.66 84.00 15.22 113.50 11.04 1.016 22.85 65.08 12.25 85.66 23.54 133.75 85.81
82.85 84.20 15.26 113.77 11.06 1.019 22.90 65.23 12.28 85.86 23.59 134.06 86.00
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MIN
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Pak N-fuel kept US on toes: WikiLeaks
See on Page 12
Discount rate hiked for the third-time in 6 months
SCRA(U.S $ in million)
0.94 -0.95 0.55 -0.60 -0.15 -0.02 0.23
See on Page 12
SBP ups key rate by 50bps to 14pc
Portfolio Investment
FIPI (29-Nov-2010) Local Companies (29-Nov-2010) Banks / DFI (29-Nov-2010) Mutual Funds (29-Nov-2010) NBFC (29-Nov-2010) Local Investors (29-Nov-2010) Other Organization (29-Nov-2010)
Court stays President for letting off Aasia
Monetary Policy for next 2-month stated
Economic Indicators Forex Reserves (19-Nov-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Oct 10) Revenue (Jul 10-Oct 10)
Ogra likely to hike POL prices from Dec 1
RAWALAKOT: Prime Minister Syed Yousuf Raza Gilani along with UAE Health Minister His Excelency Dr Hanif Hassan Ali offering dua during the inauguration of Sheikh Zayed Hospital.-APP
Pakistan nuclear capability a source of strength: Gilani
Govt accountable to public only: PM UAE Health Minister calls on Prime Minister Special Correspondent/ Agencies RAWALAKOT: Prime Minister Syed Yousuf Raza Gilani Monday said his government can be held accountable before the people only, for they elected it to power, added Pakistan's nuclear capability was a source of strength to the country. Addressing party workers here, PM Gilani said Pakistan Peoples Party (PPP) had fought anti-state elements to
Ministries Transfer
PM chairs cabinet meet today ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani would chair Federal Cabinet meeting on Tuesday (today) in PM secretariat regarding transfer of five ministries to Provinces under the 18th amendment. Chief Ministers of four provinces and all members of Parliamentary Implementation Commission will especially attend the meeting. See # 14 Page 11
Musharraf reaches Jordan ISLAMABAD: Former president of Pakistan, Pervez Musharraf and members of his delegation joining from Pakistan, United Kingdom and United States arrived in Jordan as special guests of King Abdullah II. His majesty hosted lunch in See # 15 Page 11
restore democracy. Prime Minister said his party also gave provincial autonomy to Gilgit-Baltistan, adding that Kashmir is an important issue of Pakistani foreign policy. Gilani also said the entire nation is united against the scourge of terrorism. He claimed that the Charter of Democracy signed between the PPP and Pakistan Muslim League Nawaz (PML-N) has been implemented by more than 80 per cent. The prime minister also
asserted that the government will complete its 5-year tenure. He further said that the PPP respected political opposition and was open to constructive criticism. Referring to judiciary, he said that he respected it in the past and continues the practice. "Iftikhar Chaudhry knows that PPP members experienced incarceration for the reinstatement of judiciary", the PM asserted. See # 12 Page 11
Sharif gives govt a wake-up call PESHAWAR: Patron Pakistan Muslim League- Nawaz (PMLN) Nawaz Sharif has warned the government of severe action if corruption and bad governance continues in the country. Addressing his party workers here Monday, Sharif maintained that "corruption rules the roost in Pakistan, and if the situation persists we will not sit silently". "Corrupts are being given key posts, inflation is on the rise; we will take action, we will not remain as silent spectators", Nawaz pledged.
He said that the people would have been happier, had the judiciary been restored under Charter of Democracy and lamented over non-implementation of court orders. "Musharraf is misguiding the people by telling lies", Sharif said. The PML-N chief said that he with the help of his party workers would take the country to greater heights and expedite the pace of progress. "I wish that the incumbent government completes its term", Nawaz claimed. -NNI
Lankan team attack key suspect arrested LAHORE: Security officials have arrested a key suspect allegedly involved in the attack on the Sri Lankan cricket team in Lahore in March 2009. The suspect was picked up by officials from the Raiwind area of Lahore, reported a private TV channel. Security officials said the arrested suspect belonged to the banned outfit Lashkar-e-Jhangvi (LeJ) and was involved in a number of other terrorist activities. See # 13 Page 11
Special Correspondent LAHORE: State Bank of Pakistan (SBP) has decided to raise its policy rate by 50 basis points to 14 per cent with effect from today (Nov 30) because of persistent inflation due to government borrowing from the central bank. This decision was taken at a meeting of SBP's Central Board of Directors held in Lahore; with SBP Governor Shahid H Kardar in the chair. This was the central bank's third consecutive hike in the past six months. The last one was on September 29 when it raised the rate, its overnight reverse repo, by 50 basis points to 13.5 per cent. SBP's efforts to counterbalance the rapid expansion in reserve money and arrest the rising inflation expectations would require an increase in the policy rate, State Bank of Pakistan said in its Monetary Policy Statement for the next two months while explaining
Inflation decreases 0.9pc WoW Staff Reporter KARACHI: The Sensitive Price Indicator (SPI), for the week ended on November 25, for the lowest income group up to Rs3000, has registered decrease of 0.90 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at 298.77 points as against 301.48 points registered in the previous week, according provisional figures of Federal Bureau of Statistics (FBS). SPI for the combined group also registered decreased by 0.75 per cent as it fell down from 284.93 points in the previous week to 282.78 points in the week under review. As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 20.54 per cent. As compared to the last week, the SPI for the income groups ranging from Rs.30015000, Rs.5001-12000 and above Rs.12000 decreased by 0.90 per cent, 0.81 per cent and 0.59 per cent respectively. During the week under review average prices of 13 items registered decrease, while that of 15 items increase See # 11 Page 11
the rationale behind the increase The rising Net Domestic Assets in policy rate. (NDA) to Net Foreign Assets The statement said inflation is (NFA) ratio of SBP balance
rising and showing persistence sheet and its strong association because of relentless govern- with CPI inflation also suggest ment borrowing from the SBP. See # 8 Page 11
Govt must take other steps to cut inflation: brokers
Traders flay key rate hike Staff Reporter KARACHI: The business community had rejected the decision of State Bank of Pakistan to increase the interest rates by 50 bps to 14 per cent. President Karachi Chamber of Commerce and Industry (KCCI), Muhammad Saeed Shafiq in a press statement criticised the decision of State Bank of Pakistan in the name to mitigate risks to macroeconomic
stability, which is absolutely rejected and baseless. Muhammad Saeed Shafiq said the upward revision would translate in multiplying the already sky-high inflation and increasing the cost of production that would further paralyze the already numb industries. President stressed that Government should control its money minting enterprises like PIA, Wapda, Railways, See # 9 Page 11
Corruption charges
SC wants RPPs tariffs detailed ISLAMABAD: Supreme Court Monday sought explanation from the private companies over charges of corruption in the rental power projects in Transparency International report. The counsel of private power providers Agha Tariq Rahim informed the court that the cost of the electricity generated by the private power companies will be Rs14 per unit. Chief Justice Iftikhar Chaudhry said this power will reach to the consumers at the
cost of Rs18 per unit. The counsel replied that the government offering subsidy on power which will be supplied at the same rate. Justice Khalil-ur-Rehman Ramday said the people will suffer the burden of the subsidy, which will be given from the tax money. The court called explanation from Agha Tariq Rahim over the report of Transparency International. The counsel See # 10 Page 11
FO criticises WikiLeaks; Zardari regards King Abdullah as elder brother: spokesman
Pak says info on Saudi ties misleading ISLAMABAD: Pakistan said it considered the 'extremely negative reports' carried on Pakistan-Saudi relations attributed to WikiLeaks as 'misleading and contrary to facts'. "It is quite evident that these mischievous reports reveal the utter inadequacy of the author to grasp the essence of the Pakistan-Saudi relationship," Foreign Office spokesman Abdul Basit responded Monday to the WikiLeaks documents that revealed on Sunday.
The spokesman said Pakistan enjoys a very special and unique relationship with the Kingdom of Saudi Arabia, adding Pakistani leadership, government and the people held the leadership and the people of Saudi Arabia not only in very high esteem but as true friends and brothers. He mentioned that Saudi Arabia, King Abdullah Bin Abdul Aziz, the Royal family and the people of Saudi Arabia always stood by Pakistan. Basit said the national and
international press carried excerpts from documents brought to public light by WikiLeaks, and said these documents reportedly pertained to official communications within the US government system.FO criticised the release of classified US diplomatic cables that reportedly raise concerns that highly enriched uranium could be diverted from its nuclear program to build an illicit weapon Pakistan has always said it is confident its nuclear security is
good enough to prevent this from happening - a stance supported publicly by the US But classified cables released by online whistle-blower Wikileaks reportedly reveal the US has doubts and has clashed with Pakistan over the issue. "We condemn the irresponsible disclosure of sensitive official documents," said Pakistani Foreign Ministry spokesman Abdul Basit. The king of Saudi Arabia reportedly called Pakistani
President Asif Ali Zardari the greatest obstacle to the country's progress, The New York Times said. "When the head is rotten, it affects the whole body," the newspaper quoted King Abdullah as saying. Presidential spokesman Farhatullah Babar dismissed the reported comment, saying "President Zardari regards Saudi King Abdullah as his elder brother." "The so-called leaks are no more than an attempt to create
misperceptions between two important Muslim countries," he said. Pakistani Presidential spokesman Farhatullah Babar said "The so-called WikiLeaks tried to spoiled relations between Pakistan and Saudi Arabia." He said Pakistan and Saudi Arabia are two brother Islamic countries. He said the WikiLeaks cables are aimed at creating misunderstanding between the two countries. Agencies
2 UNDP to train garment units Staff Reporter KARACHI : The 9th Phase of Skill Development Training (SDT) under Pakistan Readymade Garment Manufacturers and Exporters Association's (PRGMEA) skills-development project would be launched next week. The project GENPROM Gender promotion in garment and clothing industry through skills development has been funded by United Nation's Development Programme (UNDP) is being held at Pakistan Readymade Garments Technical Training Institute (PTGTTI), said Maham
NA body on info meets today ISLAMABAD: Meeting of National Assembly's Standing Committee on Information & Broadcast has been summoned to meet on Tuesday in which the committee will look into the complaint received by APNS regarding irregularity and embezzlement in the electronic and print media on the government policy for issuance of advertisement. It was learned that this meeting was called by chairperson standing committee Neelam Hussain on the complained received by APNS but surprisingly no representative of the APNS was invited. Secretariat national assembly issued the agenda in which 6 points were to be discussed in the standing committee and a reply is asked from the ministry of information to give details of the advertisement policy for print and electronic media, and why advertisements are being allotted to dummy news papers which don't even exist.-Online
TV PROGRAMMES TUESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24
TUESDAY Time 8:00 9:00 9:15 10:00 10:15 11:00 11:05 12:00 12:15 13:00 13:05 14:00 15:02 15:30 16:15 17:05 (Rpt) 18:05 19:00 19:05 19:30 20:00 20:05 21:00 22:00 22:05 23:00 23:05 0:00
Programmes Chai Time (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Power Lunch News Islamabad Say (Rpt) News Akhri Sauda Tax Time (Rpt) Karobari Dunya Ghar Ka Kharch Chai Time News Aap Ka Paisa Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Kamyab (Rpt) News
Sadique of PRGTTI. The duration of the SDT project is for 3.5 months during, which fresh graduates preferably with engineering background are trained in theory and practical course work, which is designed by KSATechnopak, India (the world renowned experts in the garment/apparel sector). The project has been successfully implemented in 48 garments manufacturing units across Pakistan: Karachi, Lahore and Faisalabad and has trained more than 487 Master Trainers/middle management professionals and 8081 workers. Project has delivered complete training
system, course curriculum, manuals and consulting guidelines to these factories. Training manuals have also been translated in Urdu language to transfer appropriate knowledge and skills to less literate workers of the industry, Maham informed. "Garments and made-ups are no doubt a profitable industrial sector, but unfortunately skill-gap still exists in the industry out of which majority of the labour force comprises of unskilled labour", she said adding that with such strong global competition, Pakistan needs to compete on quality and timely delivery.
Tuesday, November 30, 2010
1280th Urs of Abdullah Shah Ghazi concludes KARACHI: The Chief Minister of Sindh, Syed Qaim Ali Shah, here on Monday attended the concluding ceremony of the 1280th annual Urs of Abdullah Shah Ghazi. On the occasion, he also laid a floral wreath and offered `Fateha'. The Chief Minister also prayed for the progress and prosperity of the country. Provincial Auqaf Minister, Abdul Hafeez Khan, Adviser to CM, Siddiqe Abu Bhai, Secretary Works and Service, Mukhtiar Ahmed Soomro, and Chief Administrator Auqaf Sindh were also present on the occasion. The Chief Minister also inspected the security system at the premises of the Mazar. The Secretary Works and Services, Mukhtar Ahmed Soomro, briefed Syed Qaim Shah about the renovation, expansion and security work at the Mazar.-APP
KARACHI: Outgoing Commander Pakistan Fleet Vice Admiral Tanveer Faiz formally handing over the command to the newly appointed Fleet Commander Vice Admiral Abbas Raza.-APP
Etihad profits’ up
ISLAMABAD: Etihad financial road-show event overall development and Airways reported prof- in London, attended by ensuring healthy profit for itable earnings before more than 170 representa- Etihad Airways. He furinterest, taxation, depreci- tives of banks and other ther added that the growth ation, amortization and financial institutions. This of Abu Dhabi, both as a rentals (EBITDAR) for road-show was a part of global tourist and busi2010, said Chief the airline's regular inter- ness destination, is playExecutive Officer James actions with the interna- ing a critical role in our Hogan, marking an impor- tional financial communi- development. Our sharetant step forward in the ty. Etihad laid out its busi- holders expect a return ISLAMABAD: Interior Minister Senator A Rehman airline's journey towards ness strategy for the and we will deliver that Malik in a meeting with Mufti Muneeb-ur-Rehman full break-even in 2011 future highlighting its return." and Qari Hanif Jalandhari of Ittehad Tanzeemat-eEtihad's financial roadcommercial performance and profitability in 2012. Madaras Pakistan at Ministry of interior.-APP This will be achieved since its inception seven shows are part of the airline's commercial funddespite heavy investment years ago. Amer N Khan, Country raising program and in new routes, fleet and infrastructure. All indica- Manager, Etihad Airways Etihad regularly updates tors show that these tar- Pakistan added that; "Our the financial community team in Pakistan is proud on the performance of the gets are in sight. KARACHI: Allied Bank Hogan was speaking at a to play a vital role in the business.-NNI has been awarded the "27th Corporate Excellence Award" in KARACHI: Waseem Ahmed, Director General Financial Category by Federal Investigation Agency (FIA) addressing the Management Association members of the Stock Exchange on his visit to the of Pakistan (MAP). The KSE for meeting with the management and the Bank has won this prestimembers of KSE.-Staff Photo gious award for the second ISLAMABAD: The Pakistan Business greater documentation of the economy. Council (PBC) a private sector business This greater documentation should lead consecutive year. Khalid A Sherwani, policy think tank cum advocacy group to higher tax collection and this higher CEO, Allied Bank supports an across the board implementa- tax collection it is hoped will provide the received the award from tion of the Revised Sales Tax in the government with the fiscal space required to lower tax rates in due course. Dr Ishrat Husain, Dean & Country. The PBC supports the RGST Bill, According to press release issued here Director, Institute of Business Administration on Monday, the PBC members which which has recently been laid before (IBA) and ex-Governor represent 30 of Pakistan's largest business Parliament and calls on all organisations / State Bank of Pakistan, at groups including multinationals are of the individuals who want an equitable distria ceremony held here opinion that an across the board imple- bution of the tax burden to support the recently. Also present on mentation of Sales Tax will lead to a proposed legislation.-Online KARACHI: A group photo after the charity concert the occasion were Waqar organised by German Consulate for the flood A Malik, President MAP victims in Pakistan. Seen in the picture is Acting and Sarfaraz A Rehman, Consul General Dieter Freund at the German Chairman, Corporate Consulate General. Staff Photo Excellence Awards SubCommittee. Allied Bank was presented with this award in recognition of its Corporate Governance and overall management best practices such as IT infrastructure; strategic planKARACHI: Federal Minister for Science and ning and communication; Technology Muhammad Azam Khan Swati, leadership; corporate Incharge DG, PSQCA Arshad Virkh, M Umar social responsibility; cusGhauri Award Coordinator, Khursheed Abbasi tomer and market focus; President KUJ and others speaking on the eve of human resource; and risk Quality Standards Award.-Staff Photo management practices. Established in 1942, Allied Bank today stands on a solid foundation of over 63 years of its existence having strong equity, assets and deposits base. With a network of 789 branches in over 300 cities and towns offering realtime online banking, Allied Bank offers a full range of KARACHI: A group photo of National retail, commercial and corConvention Junior Chambers International porate banking services President Israr Ulallah Khan. Along with Anwar with a focus on service Kashif Mumtaz, Mouhmmad Zubair, Wasif Iqbal, delivery through technoloNadeem Ahmed and others.-Staff Photo gy.-NNI
Award for Allied Bank
Pak Business Council backs Reformed GST
Rs71mn to keep Quaid tomb in good shape ISLAMABAD: Quaide-Azam Mazar Management Board (QMMB) here on Monday approved Rs71.178 million for financial year 2010-2011 for the maintenance of Quaid-e-Azam mausoleum. Federal Minister for Environment Hameed Ullah Jan Afridi chaired the meeting and said that Quaid-e-Azam Mazar is our national monument and all possible resources needed to be utilized to preserve this asset. He said that QMMB may expedite its affective role to administer related issues on sustainable basis.-APP
OFFICE OF THE PROGRAMME MANAGER HEPATITIS PREVENTION & CONTROL PROGRAM, SINDH (CHIEF MINISTER'S INITIATIVE) @ DIRECTORATE GENERAL HEALTH SERVICES SINDH, HYDERABAD PHONE NO. 022-2671693 FAX NO. 022-2671696. www.hpcp.com.pk
EXPRESSION OF INTEREST Government of Sindh has launched major tilted CMYs Initiative Hepatitis Free Sindh to prevent and control the Hepatitis in Sindh. To create the awareness among the masses to stop the spread of Hepatitis in Sindh. Eol required from the reputable firms/ organization for launching public awareness campaign in print & electronic media. In vinyl posters/ bus panels, Floats (All over Sindh) giveaways etc: I. The interested parties should apply along with following information: II. Detailed Profile of company including name, registered address, telephone / fax numbers(s) email address and year of establishment. III. Income Tax Certificate. Rates for 30 to 60 seconds of Radio and T.V, and rates for Posters, Hoardings, Floats, Banners, Bus panels may be quoted nominal rates. The interested parties should submit their Financial and Technical proposals to the office of undersigned latest by 24th of December 20 10 at 11:00 A.M. On the same day technical proposal shall be opened before the committee and Representative of Firms on same day at 12:OO Noon. Final proposals will be opened after evaluations of technical proposals. The chairman committee reserves the right to accept or reject any / all be applications subject to provision of relevant class of SPR Rules 2010. Note: Assignment to successor firm will be awarded for two years 2010 - 11 & 2011 - 2012. PROGRAME MANAGER HEPATITIS PREVENTION & CONTROL PROGRAM SINDH CHIEF MINISTER'S INITIATIVE HYDERABAD INF-KRY 4023/10
ZONG’s new offer receives good response KARACHI: ZONG received an overwhelming response to its '100 pay 100' offer - a special campaign to reward subscribers each time they recharge their balance. The '100 pay 100' offer, as the name suggests, effectively doubles the balance of ZONG's prepaid subscribers automatically every time they recharge it using Rs. 100 or more denomination scratch cards/mini load. According to a statement issued here, ZONG customers, on every load of Rs. 100, will get 100 per cent extra recharge in the form of free minutes which can be used according to their tariff plan. 80 per cent of the balance can be used to make on net calls while 20per cent can be used to make off net calls, the free balance can be used within three days.-PR
3
Tuesday, November 30, 2010
Swiss franc gains vs euro ZURICH: The Swiss franc rose against the euro on Monday as investor focus switched to euro-zone debt concerns in Portugal and Spain, supporting the safe haven Swissie, after EU ministers endorsed a loan package for Ireland. Markets will be anxious to gauge whether the 85 billion euro debt package aimed at helping Dublin cover bad bank debts and close an outsize budget deficit will prevent fears spilling over to other troubled euro-zone economies. The franc was higher against the euro compared to the New York close, trading at 1.3278 francs per euro at 0827 GMT after hitting its highest level since late September earlier in the session. The franc was also higher against the dollar, pushing back above parity to 0.9996 francs per dollar. -Reuters
Euro slides to 2-month low versus dollar, focus on $1.30 Euro-dollar volatilities up as market senses further falls NEW YORK: The euro fell to two-month lows against the US dollar on Monday as a rescue package for Ireland failed to soothe a market worried about the next possible debtstricken euro-zone economy to implode. Analysts expect further losses in the euro given the uncertainty surrounding the fiscal outlook of the region's peripheral countries. The next key target is $1.30 after the euro fell below the 200-day moving average around $1.3130. European Union finance ministers endorsed an 85 billion euro rescue package for Dublin and approved outlines of a permanent crisis-resolution system that could make private bondholders share the burden of restructuring sovereign debt after 2013.
Sentiment remained fragile with a sale of Italian bonds meeting lukewarm demand and highlighting investors' unease about euro-zone debt. "The markets remain con-
cerned about prospects in the euro-zone," said Matthew Strauss, senior currency strategist at RBC Capital in Toronto. "If Spain were to apply for a bailout, that would require a bigger amount because of the size of its economy. And this continues to weigh on the euro."
The euro fell was last at $1.3094 down 1.45 per cent on the day. Investors took out option barriers at $1.31, traders said. Euro/dollar implied volatili-
ties extended a recent rise, reflecting nervousness about the single currency. Onemonth volatilities rose to 15.00 per cent from 13.60 on Friday. The one-month 25-delta was trading around 2.0 for euro puts versus 1.85 on Friday. The cost of insuring
Portuguese and Spanish debt against default rose to a record high on Monday. Many traders said the European Financial Stability Facility, a joint EUInternational Monetary Fund reserve created in May, may not have enough funds to support Spain if it needs help. Ireland said the emergency loans would run for an average of 7.5 years, with an interest rate of around 6 per cent. Many analysts say markets are still likely to turn on Portugal and Spain, seen as the eurozone's next weakest links. The euro's losses helped the dollar index to its highest in two months, above 81.004, up 0.8 per cent on the day. The dollar also hit a twomonth high of 84.34 yen, up 0.4 per cent. -Reuters
Top Economic Events Time NZD JPY GBP CAD CAD CAD
Source Trade Balance Retail Sales y/y Final Mortgage Approvals Current Account RMPI m/m IPPI m/m
Events -319M -0.2% 47K -17.5B 1.7% 0.5%
Forecast -416M 0.8% 47K -14.9B 1.0% 0.2%
Previous -457M 1.4% 44K -13.0B -0.5% 0.3%
Source
Events
4:15 4:30 4:50 5:01 5:30 10:00 15:00 15:00 18:30 19:00 19:45
JPY JPY JPY GBP AUD JPY EUR EUR CAD USD USD
Actual
Forecast
Previous
Manufacturing PMI Unemployment Rate Prelim Industrial Production m/m GfK Consumer Confidence Current Account Housing Starts y/y CPI Flash Estimate y/y Unemployment Rate GDP m/m S&P/CS Composite-20 HPI y/y Chicago PMI
5.0% -2.6% -19 -6.6B 10.0% 1.9% 10.1% 0.1% 1.2% 60.1
47.2 5.0% -1.6% -19 -5.6B 17.7% 1.9% 10.1% 0.3% 1.7% 60.6
Previous Day
Currency Rates Name EUR-USD ESD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver
As per 22.00 PST Ask High 1.3085 1.3299 1.3128 1.3322 1.5542 1.5644 1.0243 1.0255 0.9595 0.9698 110.4500 111.7500 0.8426 0.8521 1.3137 1.3322 131.1400 131.3500 84.1100 84.1300 0.9801 0.9865 1361.8500 1367.8900 16.8000 27.1200
Bid 1.3083 1.3124 1.5538 1.0238 0.9592 110.4000 0.8422 1.3133 131.0800 84.0500 0.9797 1361.5700 26.7400
Low 1.3063 1.3117 1.5529 1.0169 0.9570 110.2800 0.8410 1.3117 1.3092 83.7600 0.9784 135.9100 26.4900
London Inter Bank Offered Rates (LIBOR)
Asian currencies
Thai baht falls to 2-mth low ahead of party verdict Politics adding to year-end volatility, risk reduction HONG KONG: The Thai baht slid to a two-month low on Monday as the possible dissolution of the ruling party fanned fears of political instability at a time when investors were already reducing risk in their portfolios. Thailand's highest court is poised to deliver a ruling in an electoral funding case, the verdict of which could result in Prime Minister Abhisit Vejjajiva losing power. Elsewhere in the region, the South Korean won rebounded after a finance ministry source told Reuters the tense showdown with the North may affect capital curbs that Seoul was considering. The politics-driven volatility
in emerging Asia has added more reasons for traders to go to the sidelines through the end of the year, with trading volumes quickly thinning out. Singapore dollar has broken the neckline of an inverted SHS formation targeting 1.3350. 1,3150-70 is immediate support, and 1.3070 major support, a break of which neutralises immediate bullishness. Unloading of bonds and stocks from offshore names continue to keep the Thai baht well supported after break above 30.20 on Friday night. Political concerns seen adding to the THB's weakness intraday. Markets fear there will be further declines in stocks
today on a final hearing in the Thai courts re misuse of THB29 mln grant fund in 2005 to the ruling Democrat Party. The court's ruling could lead to political bans on senior political leaders in the ruling party, including PM Abhisit, newswires reported. Malaysian ringgit opens at 3.1530-3.1580 and popped back higher above 3.1600 level. The pair continues to track bullish dollar overseas, with traders also wary of further jitters over Korea's North/South tension. Funds also seen cutting MGS holdings last week ahead of the govt's 10-year auction and extended weakness in the MYR. -Reuters
Stg climbs vs euro on eurozone woes
Taiwan dlr rise after elections
LONDON: Sterling hit a twomonth high against a broadly weak euro on Monday as investors looked beyond a debt rescue plan for Ireland and dumped the single currency on concerns that other euro-zone nations may also require help. However, sterling was unable to capitalise on a widely expected rise in the growth forecast held by the UK's fiscal watch-
dog, as it cut is growth forecast for 2011 and nudged up its expectations for public sector borrowing in the mid term. While negative euro sentiment boosted sterling, the pound skidded to a two-month trough versus the dollar, which rallied as the 85 billion euro rescue package for Dublin did little to stop investors from selling riskier assets in favour of the safe-haven US currency. "Sterling is getting dragged around by sentiment in the
euro-zone. While it is modestly outperforming the euro, it's taking a hit against the dollar," said Chris Turner, currency strategist at ING. Ongoing speculation about whether more euro-zone nations including Portugal and Spain will require bailouts will continue to sting the euro, market participants say, which may boost the pound versus the single currency.
By 1514 GMT, the euro had fallen around 1 per cent on the day to 84.15 pence, its weakest since late September and falling below its 100-day moving average of 84.74 pence. The euro closed above that average on Friday, but its inability to do so on Monday was seen keeping the door open to more losses. Sterling traded 0.3 per cent lower on the day at $1.5545, having slipped as low as $1.5533, its weakest since late September. -Reuters
TAIPEI: The Taiwan dollar rose on Monday after the ruling party held onto its posts in weekend elections, but an expected intervention by the central bank and tension on the Korean peninsula and the eurozone's debt crisis could cap the gain. At around 0300 GMT, Taiwan's currency was up 1.07 per cent at T$30.50 against the US dollar, versus Friday's close of T$30.83. The stronger currency comes as part of overall higher local financial markets, as the ruling party maintained its hold on key seats in weekend elections, indicating that its pro-China business policies will stay on track. The Taiwan dollar was among the few Asian currencies that were trading higher. The Korean won retreated by Monday amid ongoing concern about a stand-off with North Korea after an artillery attack by the North on a southern island last week killed four people. Taiwan's central bank has intervened aggressively as the currency gained about 3 per cent since late September, reflecting expectations that US monetary easing would attract foreign fund inflows to Asia. -Reuters
Australian, NZ dollars shaky after sell-off SYDNEY/WELLINGTON: The Australian dollar plumbed two-month lows and the New Zealand dollar a one-month low on Monday as doubts that Ireland's bailout package would plug Europe's debt crisis led investors to shun riskier currencies. The Aussie hit $0.9584, lows not seen since Oct. 15, before popping back above $0.9600 on profittaking on short positions. It last traded at $0.9633, little changed from late New York levels on Friday. A clear break of trendline support in the $0.9605/15 area is seen paving the way to major support at $0.9540, the Oct. 5 low. Traders said thin year-end trade and doubts over the Irish package made for a choppy session. "Scepticism about exactly how much this package can really achieve and also geopolitical risks and concerns about what is going on in the Korean peninsular continued to weigh on sentiment," said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong. The Aussie was further hampered by disappointing domestic company profits and inventories data
that suggested Wednesday's third-quarter growth report could be weaker than initially expected. The mixed bag of data did nothing to alter market expectations that interest rates were on hold for some months to come, though the next move from the Reserve Bank of Australia (RBA) is still likely to be upward. The New Zealand dollar fell to a low of $0.7447, before recovering to $0.7484 by late trade, compared with $0.7492 in New York. "In the short term at least, downward pressures remain. Key support is at $0.7400 and if this breaks then long term support is at $0.7300 and this is not expected to break," said Derek Rankin of Rankin Treasury Advisory. Two pieces of positive New Zealand data, including annual trade surplus and business confidence had only passing influence on the currency. Neither piece of data was seen as altering the likelihood that the central bank will hold rates at 3 per cent at its final review for the year next week, and can afford to leave them at that level until March next year at least. -Reuters
Yuan up, buoyed by month-end demand SHANGHAI: China's yuan ended slightly firmer against the dollar on Monday as dealers cited month-end demand for the currency for trade settlements. Dealers said such purchases were temporary and would neither affect the yuan's shortterm nor long-term prospects and the Chinese currency was likely to resume normal trading on Tuesday. Before trade began, the People's Bank of China set the mid-point at a one-month low to reflect a strengthening US currency. But the 0.22 per cent fall in the PBOC's mid-point, or the level from which the yuan may rise or fall 0.5 per cent each day, lagged a 0.6 per cent jump in the dollar index last Friday, which reflects the central bank's wish to keep the yuan in a tight range. Several dealers said the dollar still had potential to rise slightly and the yuan's move would largely be influenced by the US currency. The dollar index hit 80.652 in Asian trade
on Monday. Spot yuan close at 6.6606 against the dollar, up slightly from Friday's close of 6.6675. It is up 2.49 per cent since the PBOC depegged the currency in mid-June. Before trade began, the PBOC set the mid-point at 6.6700, the lowest level since Nov. 4, weaker than Friday's 6.6557. "The central bank has no intention to let the yuan rise too fast," said a dealer at an Asian Bank in Shanghai. "And the strong dollar is setting a floor for the yuan to have a rest. "The European debt crisis and tensions on the Korean peninsula have boosted demand for the safe haven dollar." Offshore, one-year NDFs rose to a fresh seven-week high on Monday, hitting an intraday high of 6.6150 bid later on Monday from 6.5570 at Friday's close, with implied yuan appreciation in a year's time falling to 0.83 per cent from 1.50 per cent shown on Friday. -Reuters
Indian rupee weakens; dollar demand hurts MUMBAI: The Indian rupee slid to more than a 10-week low after having traded firm through most of the session on Monday as late losses in the euro and month-end dollar demand from oil refiners and importers weighed. The partially convertible rupee closed at 45.93/94 per dollar, after touching 45.94, its lowest since Sept. 17 and 0.2 per cent below its 45.84/85 close last Friday. "The euro crashed in late trade, and along with that, the broad dollar strength versus majors further pushed rupee to fresh lows. A lot of dollar short-covering was triggered by the euro's fall," said Vikas Chittiprolu, a senior forex dealer with state-run Andhra Bank. "There was good two-way interest through the day. Exporters came out to sell, but good month-end bids from oil and other importers hurt. I expect the rupee to hold in 45.50-46.10 range this week," Chittiprolu added. Traders said some inflows
were also seen towards the Manganese Ore India's initial share sale, currently under way. Gains in shares, however, prevented a further sharp slide in the rupee, dealers said. One-month offshore nondeliverable forward contracts were at 46.23, weaker than the onshore spot rate, suggesting a bearish near-term outlook. In the currency futures market, the most traded nearmonth dollar-rupee contract on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 46.1825, 46.1875 and 46.19 respectively, with total traded volume on the three exchanges at a low $5.5 billion. -Reuters
Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 29/11/2010 A USD GBP CAD EUR JPY O/N 0.23250 0.55313 0.97167 0.38875 SN 0.09188 1WK 0.25203 0.55938 1.01167 0.53875 0.10125 2WK 0.25375 0.56500 1.05250 0.62625 0.10750 1MO 0.25750 0.57625 1.08833 0.75125 0.12000 2MO 0.27750 0.62938 1.14833 0.85000 0.14750 3MO 0.29594 0.73875 1.22083 0.96750 0.18750 4MO 0.34500 0.82250 1.29500 1.03000 0.25000 5MO 0.40375 0.92875 1.36000 1.11000 0.30625 6MO 0.45906 1.03125 1.43417 1.20625 0.35563 7MO 0.51281 1.10875 1.50000 1.25250 0.41000 8MO 0.56563 1.19250 1.57167 1.30375 0.45500 9MO 0.61500 1.27500 1.63583 1.35125 0.50125 10MO 0.66688 1.35125 1.70667 1.39875 0.53000 11MO 0.72313 1.42000 1.79500 1.44500 0.55875 12MO 0.78494 1.48688 1.88583 1.49000 0.58875
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Dec 07 2010 Dec 09 2010 Dec 21 2010 Dec 02 2010 Dec 14 2010 Dec 16 2010 Dec 07 2010
Sep 08 2010 Mar 05 2009 Dec 19 2008 May 07 2009 Dec 16 2008 Mar 12 2009 Nov 02 2010
Bank of Canada Bank of England Bank of Japan European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia
Current Interest Rate 1% 0.50% 0.10% 1% 0.25% 0.25% 4.75%
Division of National Bank of Pakistan (NBP) KARACHI, November 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
86.10 134.37 114.03 84.40 86.06 83.04 12.30 1.02 14.00 65.38 15.29 22.96 11.09 12.91 305.53 27.32 64.42 23.65 23.44 0.07 2.85
85.90 134.06 113.77 84.20 85.86 82.85 12.28 1.02 13.97 65.23 15.26 22.90 11.06 12.88 304.82 27.25 64.27 23.59 23.39 0.07 2.84
85.71 133.75 113.50 83.98 85.64 82.63 12.24 1.02 13.93 65.06 15.22 22.84 11.04 12.85 304.02 27.18 64.10 23.53 23.32 0.07 2.83
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for November 29, 2010
KASB
BMA
ELXIR
GSL
ICSL
12.90 12.60 12.60 12.70 12.70 13.00 13.20 13.30 13.30 13.48 13.70 13.72 13.75 13.78 13.80 13.80 13.82 13.85 14.25 14.35
12.80 12.60 12.70 12.80 12.85 13.00 13.20 13.25 13.30 13.40 13.75 13.72 13.75 13.75 13.75 13.74 13.74 13.78 14.20 14.35
12.65 12.70 12.75 12.85 12.90 13.05 13.24 13.28 13.35 13.55 13.65 13.75 13.77 13.77 13.79 13.80 13.82 13.95 14.25 14.35
12.50 12.60 12.65 12.80 12.90 13.00 13.28 13.35 13.40 13.47 13.72 13.75 13.78 13.80 13.81 13.82 13.83 13.90 14.20 14.35
12.70 12.50 12.75 12.80 12.90 13.05 13.20 13.30 13.40 13.50 13.70 13.75 13.75 13.75 13.75 13.75 13.75 13.90 14.20 14.30
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years
JSCM AvgRate 12.70 12.60 12.60 12.75 12.90 13.10 13.25 13.30 13.45 13.60 13.65 13.75 13.75 13.77 13.80 13.85 13.85 13.90 14.25 14.35
12.71 12.60 12.68 12.78 12.87 13.03 13.24 13.30 13.38 13.50 13.70 13.74 13.76 13.77 13.78 13.79 13.80 13.88 14.23 14.34
Currencies Correlation USD/JPY Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY
week month months months year years
-0.78 -0.58 -0.75 -0.91 -0.61 -0.63
-0.38 -0.65 -0.74 0.40 0.67 0.71
-0.20 -0.88 -0.79 -0.69 0.28 0.27
-0.38 -0.12 -0.42 -0.26 0.59 0.66
EUR/USD GBP/USD -0.58 -0.88 -0.81 -0.91 -0.08 -0.02
-0.74 -0.64 -0.65 -0.91 -0.40 -0.20
NZD/USD USD/CAD -0.64 -0.35 -0.66 -0.84 -0.65 -0.62
0.13 0.41 0.61 0.55 0.14 0.57
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)29/11/2010 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 12.50
13.00
12.50
13.05
12.60
13.10
12.90
13.15
13.10
13.30
13.15
13.65
13.20
13.70
13.30
13.80
JSBL
12.70
13.20
12.70
13.20
12.75
13.25
12.90
13.15
13.20
13.40
13.35
13.85
13.35
13.85
13.50
14.00
ASPK 12.50
13.00
12.60
13.10
12.65
13.15
12.90
13.15
13.20
13.45
13.30
13.80
13.35
13.85
13.45
13.95
CIPK
12.40
12.90
12.40
12.90
12.50
13.00
12.90
13.15
13.30
13.55
13.30
13.80
13.40
13.90
13.50
14.00
DBPK 12.15
12.65
12.20
12.75
12.30
12.80
12.75
13.00
12.90
13.15
13.15
13.65
13.25
13.75
13.35
13.85
FBPK 12.60
13.10
12.65
13.15
12.55
13.05
12.80
13.05
13.20
13.45
13.25
13.75
13.30
13.80
13.40
13.90
FLAH 12.40
12.90
12.40
12.90
12.50
13.00
12.85
13.10
13.10
13.35
13.20
13.70
13.30
13.80
13.40
13.90
HBPK 12.40
12.90
12.40
12.95
12.50
13.00
12.90
13.15
13.15
13.40
13.20
13.70
13.30
13.80
13.40
13.90
ABPL
HKBP
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
NIPK
12.60
13.10
12.60
13.10
12.75
13.25
13.00
13.25
13.15
13.40
13.25
13.75
13.35
13.85
13.45
13.95
HMBP 12.50
13.00
12.50
13.05
12.65
13.15
12.95
13.20
13.20
13.40
13.20
13.70
13.35
13.85
13.45
13.95
SAMB 12.35
12.85
12.30
12.85
12.40
12.90
12.85
13.10
13.10
13.30
13.10
13.60
13.30
13.80
13.35
13.85
MCBK 12.25
12.75
12.30
12.80
12.40
12.90
12.90
13.15
13.20
13.40
13.25
13.75
13.35
13.85
13.50
14.00
NBPK 12.60
13.10
12.50
13.00
12.60
13.10
12.90
13.15
13.10
13.30
13.20
13.70
13.40
13.90
13.60
14.10
SCPK 12.50
13.00
12.30
12.80
12.35
12.85
12.70
12.95
12.95
13.20
13.10
13.60
13.20
13.70
13.30
13.80
UBPL 12.45
12.95
12.40
12.90
12.50
13.00
12.90
13.15
13.20
13.45
13.30
13.80
13.35
13.85
13.40
13.90
AVE
12.97
12.47
12.97
12.53
13.03
12.89
13.14
13.16
13.41
13.23
13.73
13.33
13.83
13.42
13.92
12.47
4 Tuesday, November 30, 2010
Founding Day Of PPP
The Financial Daily International Vol 4, Issue 113
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
Qamar Zaman Kaira, Federal Minister for Information & Broadcasting
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
Another air crash in Karachi The second air crash within a month in Karachi has made the residents jittery. Since both the planes crashed soon after take off from Karachi International Airport and also crashed within a radius of a few kilometers the incidents demand thorough probe. Though, one should avoid theorising about the possible causes of crash, it is difficult to ignore a few conspiracy theories. The first and immediate cause can be negligence on the part of air traffic control department of Civil Aviation Authority (CAA). The staff handles hundred of flights daily and finding any negligence in these two cases specifically requires extreme expertise. The general perception is that CAA does not have the requisite expertise to investigate such incidents and will have to depend on the foreign experts. The second cause can be downing the aircraft from the ground. The route being followed by the aircraft for landing at and taking off from Karachi airport is surrounded by katchi abadis and presence of some militants cannot be ruled out. The intelligence agencies have been issuing regular warnings that some militants groups are hibernating in various localities and are using the residents as human shields. One may wonder why anyone should aim at an otherwise harmless passenger or cargo aircraft. Shooting down an aircraft may not be the prime reason but the motive is to cause the maximum destruction in the vicinity. It must be kept in mind that an aircraft has the maximum fuel when it takes off, which can cause the worst damage to area where it crashes. Both the planes crashed in the area where central ordnance depot and strategic naval and air force installations are located. Therefore, one is forced to draw the inference that shooting the aircraft was aimed at causing them to hit these strategically important and sensitive installations with all the fuel. It is necessary to reiterate that combing out the terrorists from Karachi has become most important now. Various intelligence reports confirm that terrorists are hibernating in Karachi. Their potential targets are strategic installations, airport, ports, oil storage facilities, and even commercial buildings. The sole purpose of attacking these installations is to weaken Pakistan's defence and economy. It is feared that many foreign militants have taken refuge in Karachi after the military operation in the northern areas of Pakistan. It has been repeatedly demanded that all the illegal aliens residing in Karachi should be repatriated at the earliest. However, if they wish to reside in Karachi, they must be registered by Nadra and issued NICs.
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.
P
PP was founded by Shaheend Zulfiqar Ali Bhutto on 30th November 1967. He set in motion a social revolution through his people-oriented politics declaring " Socialism is our economy, democracy is our politics and people are the source of power". After installing PPP he entered into a social contract with the people of Pakistan. He made the covenant that he, his sons and daughter will sacrifice their lives for them. He said that there were two Bhuttos, one inside his person and the other living within every citizen of the country. He said my spirit dwells in the houses whose roofs seep during the rains. That was the reason why he brought the politics out of the drawing rooms of the palaces and took it to the door steps of the poor residing in those dilapidated dwellings. A renowned intellectual, journalist and a columnist Abbas Athar says I mention Bhutto's name in my columns because it is a divine secret, a great truth and an irrefutable reality. There is no example in the world where a political leader while launching a political party ever made such a social contract with the people like the one made by Zulfiqar Ali Bhutto. PPP's manifesto is rooted in such a great philosophy and truth that no enlightened person can deny it provided it is looked at with an unprejudiced mind. In the General elections held after three years of founding of the party, PPP presented itself in the court of the people with the manifesto of " Roti, Kapra aur Makan" under the leadership of Zulfiqar Ali Bhutto. The down-trodden masses, tillers, workers and youth whose lives were filled with sorrows and the women decided to support the manifesto of PPP. On the other side were the opponents of Bhutto. The great poet Josh Maleeh Abadi analyzing the situation said that on one side was the ideology of "Roti, Kapra aur Makan" while on the other side were dreams for paradise and edicts of paganism. The people had to make the choice. They rejected the dreams about paradise and edicts of paganism by accepting the reality of Roti, Kapra aur Makan as dire human needs. The people voted for the candidates of the PPP and eliminated some of the great stalwarts. On 20th December 1971, Zulfiqar Ali Bhutto was given the responsibility to lead the crest-fallen country. The nation felt humiliated due to defeat in the war. Zulfiqar Ali Bhutto invigorated the spirit of the nation by saying that we have lost the war and not the courage and determination. We Will build a new Pakistan. Immediately after entering the office Shaheed Zulfiqar Ali Bhutto started implementing his manifesto. First of all he launched the initiative to restore the prestige of the defeated nation in the comity of nations. Within a short span of time we regained our lost prestige and honour. Zukfiqar Ali Bhutto held parleys with Indira Gandhi as a leader of a dignified country rather than a defeated one which led to an honourable repatriation of ninety thousand POWs and retrieval of 5 thousand square miles of land captured by India. The PPP also enjoys the unique distinction of hosting the leaders of the Islamic world and laying a foundation for unity among the Muslim countries. It is an unprecedented example of its love for Islam. The founder of PPP made the parliament supreme through politics of democracy which gave the nation a unanimous constitution of 1973. Freedom of expression is a basic ingredient of democracy. A famous politician Ajmal Khatak said in an interview that" Whatever we say, even it is against Bhutto, we will have to admit that it is all due to his magic, because he has given a voice and consciousness to every individual of this country". Bhutto Shaheed bequeathed the ideology " Socialism is our economy" which meant that all citizens of the country are equal. In fact this ideology was a follow up of the philosophy of equality presented by the prophet Muhammad(PBUH). While unfurling the programme of Roti, Kapra aur Makan, the founder of PPP had in view the saying of Caliph Umar that even if a dog died hungry on the banks of a river, he would be answerable for that. But regrettably, the people with a narrow vision instead of understanding the wisdom behind this slogan, issued edicts of paganism against him. Now the question is how can you ensure Roto, Kapra aur Makan for the people? The founder of PPP not only created avenues of employment by establishing new institutions but also gave the right of a passport to every citizen of the country which hitherto was a prerogative of the rich who used to go abroad for recreation. That facilitated millions of Pakistanis to travel to US, Europe, Gulf and other countries of Asia for seeking employment which became a perennial source of foreign exchange for Pakistan. Today the Pakistanis are living in all countries of the world. It is indeed a great achievement of PPP. Shaheed Bhutto also provided those positions to the poor which were reserved for the children of the rich and thus fulfilled the promise of Roti,Kapra aur Makan.
The provision of employment is a basic requirement for providing Roti, Kapra aur Makan. Shaheed Bhutto established dozens of industrial concerns like steel Mills, Port Qasim , heavy Mechanical Complex, Kamra Aeronautical Complex and Utility Stores Corporation. Educational institutions like cadet colleges, universities, medical colleges, technical colleges, schools and skill-learning centres for women were set up throughout the country besides hospitals which provided employment to millions of Pakistanis. During the first PPP regime, the workers were bestowed with several rights including the right to form trade unions. The PPP ended the exploitation of the workers in the private and government institutions by promulgating legislation against forced retrenchments. It also carried out labour reforms. Similarly the students were also bestowed the right to form unions. Education was made free up to Secondary level. National Centres were set up in every district of the country to provide the students with an opportunity and a forum to exchange views on the national and international issues so that people belonging to every school of thought including the students could express their opinions. This process was designed to strengthen democratic values and to create such a culture of tolerance and accommodation which could eliminate ignorance and intolerance from the society. The first PPP government also launched a programme for adult education with a view to increase literacy ratio and to enable the illiterate adults to keep themselves abreast of the national and international circumstances by reading newspapers. With a view to promote Pakistani culture, a Ministry of culture and several institutions including museums were established. Similarly to encourage the intellectuals, writers and poets an institution known Academy of Letters was founded. All these steps remind of Shaheed Zulfiqar Ali Bhutto today. The founder of PPP gave a manifesto based on the philosophy that people were the source of power. During his regime, the bureaucracy was made real servant of the masses. The people who wore thatched clothes and walked barefoot, gained unhindered access to the Deputy Commissioners and Police Chiefs in the districts who before this acted like the viceroys. This transformation was a consequence of the consciousness given by Shaheed Bhutto to the masses. PPP and its leaders also enjoy the distinction of giving the country a nuclear progrmme. Addressing the national assembly the founder of PPP had declared" we would eat grass but make a nuclear bomb" On 5th of July 1977, the dictator General Zia ul Haq captured power at gun point and what followed the coup till 17th of August 1988 creates a nauseating feeling. It was the courage instilled by the Qaid that enabled the PPP workers to face hangings, tortures and incarcerations for the ascendency of the masses , like their leader. They accepted all this with courage and dignity because they had before their eyes the darling of the Bhuttos, Benazir Bhutto. The difference between the rhetoric or sacrifice and practically giving a sacrifice is like a difference between life and death. Otherwise people are seen weeping over mosquito biting in the jails. When the revolutionary poet Habib Jalib saw Benazir Bhutto standing up to and fighting the callous dictatorship and unconstitutional rule of Zia ul Haq he uttered a couplet describing the courage of Benazir in these words" Dartey Hein Bandooqone Waley Ik nahatti lerki sey , Darey Huwey hein Marey huwey hein ik Nahatti lerki sey". The men holding the guns are afraid of an unarmed girl. Their fears of an unarmed girl have made them dead. The PPP is proud that its brave sons and daughters fought a callous dictatorship for eleven years, under the dynamic leadership of begum Nusrat Bhutto and Muhtarma Benazir Bhutto. There is no doubt about the fact that without the leadership of these icons, the struggle for restoration of democracy would not have been so enthusiastic and determined as it turned out to be. The dictator perished in an air crash on 17th of August 1988. In the ensuing general elections, the people supported the PPP. Despite the fact that 44 seats were stolen, the attempts to deprive PPP of simple majority failed to materialize. With that the dream of the people to see the successor of Shaheed Zulfiqar Ali Bhutto, Muhtarma Benazir Bhutto as Prime Minister, was fulfilled. This was the second power stint for PPP. Muhtarma Benazir Bhutto Shaheed instead of taking revenge preferred the mission of the founder of the party and said that Democracy was the best revenge. All the political detainees who opposed the dictator were released and all the exiled leaders including Ajmal Khatak(late) and other Baloch leaders returned to the country. During her regime all the government employees who were sacked during the dictatorship were reinstated. For the first time millions of sons of workers and labourers were provided high ranking employment. During the second government of PPP First Women Bank and women Police were launched besides appointing women judges in the higher judiciary. Roads, hospital and schools were set up in the backward areas under the Peoples Programme. Muhtarma visited France to revive the project for Reprocessing Plant that had been shelved by the dictator. She also entered into an agreement with the Indian Prime Minister Rajiv Gandhi not to attack each others
nuclear installations. It was because of this agreement that on several occasion when the armies of both the countries were deployed on the borders the two countries did not go to war, which saved South Asia from a nuclear holocaust. The political dwarfs who had no programme for the welfare of the masses and who were an extension of the dictatorship orchestrated a campaign of allegations against PPP and also brought a no-confidence motion against the PPP government. Osama Bin Laden, a known terrorist also joined these political elements in the conspiracy against PPP. They used enormous amounts of money to finish the government but their efforts could not succeed in dislodging the government of Shaheed Muhtarma Benazir Bhutto. Within eighteen month the government was sent packing under article 52(2b). In the new elections , the forces that be engineered the defeat of PPP for which the nation had to suffer. Through Pressler Amendment USA stopped the delivery of defense equipment to Pakistan. Pakistan was declared a hub of narcotics. Hundreds of thousands of government employees were sacked. A new chain of revenge was enacted in the name of accountability. The economy was in a nose-dive. In 1993 new elections were held and the nation was once again given the opportunity to elect the government of their choice. The nation once again elected Muhtarma Benazir Bhutto as Prime Minister through their vote and PPP for the third time came into power. The PPP once again inherited problems like burgeoning un-employment among the youth, an economy in shambles, foreign policy in disarray, the stigma of Pakistan being a hub of narcotics and non supply of defense equipment to Pakistan under Pressler Amendment. This was the third PPP regime. Muhtarma Benazir Bhutto reinstated the sacked employees and created new avenues of employment. Her first preference was to address the foreign affairs and second was the revival of the economy. Through her sagacious leadership Brown Amendment was brought to repeal the Pressler Amendment paving the way for removal of embargo on the supply of defense equipment to Pakistan. It is also an honour and distinction for PPP that because of Shaheed Benazir Bhutto the country received missile technology, Mirage planes and Augosta submarine that enhanced our capability to defend our shores. Muhtarma Benazir Bhutto also has the distinction to remove the stigma of Pakistan being the hub of narcotics and introducing computer technology in Pakistan. Yet another achievement of Shaheed Benazir Bhutto is her initiative for power generation. If the PPP had not brought in the IPPs and Hubco project, the entire country would have been submerged in darkness today. The PPP government had also conceived Thar Coal and ketty Bander Project which could have provided cheap electricity to our coming generations for thousands of years. But these projects were shelved after the deposition of the PPP government. During the third PPP government, President Asif Ali Zardari, who was Minister for investment had chalked out a plan for the establishment of industrial zones at the level of each district so that the people could benefit from the produce of industrial units in these zones as well as the locally available minerals. Investors from all over the world were converging to invest in these zones. New Industrial units started coming up in the Khyber Pukhtun Khawa province in the area where poppy was cultivated. Just when the country was well on its way to achieving self-sufficiency in energy production, the PPP government was once again removed. The elements believing in revenge and politics of allegations once again showed their devious machinations. In the name of down-sizing and right-sizing thousand of educated youth were dismissed. The investors were scared away in the name of accountability which hampered the progress in the energy sector. The freezing of foreign currency accounts acted as a last straw triggering a wave economic instability. On 12th October 1999, General Musharraf staged a coup and the restoration of democracy in the country once again became an elusive dream. Muhtarma Shaheed Benazir Bhutto led the struggle for the restoration of democracy from exile while President Asif Ali Zardari resisted the dictatorship from jail. The dictator finally had to resort to a retreat. It must be remembered that the leadership of PPP and its workers again had to sacrifice their lives. On 27th December, Shaheed Muhtarma Benazir Bhutto signed the social contract bequeathed by her Shaheed father with her blood. The democracy was restored as a result of the sacrifices made by Muhtarma Benazir Bhutto and her devoted workers. By the grace of God the PPP for the fourth time is in power today. This time again the PPP inherited the disasters like febrile economy, scourge of terrorism, deluge of unemployment and energy crisis, set in motion by the wrong policies of the previous regimes. President Asif Ali Zardari who is the cochairman of PPP, through his leadership qualities, political sagacity and strategy made the dictator to abdicate power. PPP restored peace in Swat and Malakand and re-hoisted the Pakistan flag there by eliminating the terrorists. Thousand of employees dismissed during the previous regimes have been reinstated besides providing
jobs to thousand of youth. Benazir Income Support Programme has been initiated to alleviate the suffering of the poor masses. For the first time poor and indigent are being helped through Bait-ul-Mal . Poor women in Sindh have been given cultivable lands. The present PPP government has withdrawn anti-worker Industrial Relations Ordinance and secured their future. The workers have been made share holders in the state-run industrial units through a legislation. The limit of the marriage grant for the children of labourers has been enhanced to seventy five thousand. Domestic violence and harassment of women have been made cognizable offences. PPP also has the honour of cleansing the constitutional aberrations through eighteenth amendment with the cooperation of its allies and the members of the parliament. When the leader of PPP Asif Ali Zardari was elected as President , he asked the parliament during his address to revive the 1973 constitution in its original form. After this the speaker of the National Assembly constituted a parliamentary committee representing all the political parties in the parliament. Consequently the 1973 constitution has been restored in its original form, which the nation was demanding for the last 33 years. Through eighteenth amendment, the President has surrendered his powers to the parliament. Provinces have been given provincial autonomy and made stronger with the abolition of the concurrent list. The power to appoint the Army Chief has been given to the prime Minister while the appointment of the judges of the superior judiciary has been handed over to a parliamentary committee to ensure undisputed and transparent appointments. The name of NWFP has been changed to Khyber Pukhtun Khawa and the people of the province given their real identity. Through eighteenth amendment anti-labour IRO 2000 has been repealed. By bringing 89 amendments, the 1973 constitution has been made completely parliamentary for which PPP has been fighting for the last 31 years. We are justified in claiming that Shaheend Zulfiqar Ali Bhutto gave a unanimous 1973 constitution to the nation. Dictators like Zia ul Haq and Muhsharraf had disfigured it. The workers of PPP had given their blood, gone to jails and even sacrificed their lives for the restoration of this constitution. The political successor of Muhtarma Benazir Bhutto , president Asif Ali Zardari in line with her philosophy has established the ascendancy of the elected parliament. We must not lose sight of the fact that the lives sacrificed by the workers and leaders of PPP for the restoration of the constitution and democracy outnumber the lives lost in the battle between the two countries. Yet for some of our detractors we are perennial culprits. Our crime is that from Zulfiqar Ali Bhutto to Shaheedn Muhtarma Benazir Bhutto the nucleus of our politics have been the down-trodden masses with whom the privileged and dwellers of the palaces do not even like to talk. But in conformity with the advice of our leaders we believe in the political paradise under the feet of the oppressed people of Pakistan. It is question of a thinking. We cannot change the mind-set of those who hate scent of the sweat of the poor. Similarly these elements cannot impress us or force us to change our philosophy regarding people being the source of all power, by punishing us repeatedly. We have started implementation of the Aghaze Haqooqe Baluchistan Programme to eliminate sense of deprivation and restiveness among the people of Baluchistan. After a long time the four federating units have been given substantial money in their budget through the NFC Award. There is no doubt that PPP is a party of poor, labourers, students and people belonging to all segments of the society. Its first priority is the elimination of poverty. Under the BISP a country-wide survey is underway to banish poverty. PPP desires to serve every poor at his door step. With the completion of this survey, the poor and indigent would start receiving financial assistance. Our great leader, Muhtarma Benazir Bhutto had said" I cannot tolerate the children of my country searching for their livelihood among the garbage heaps" The PPP government is relentlessly engaged in fulfilling the philosophy of Qaid-e-Awam which was the mission of Shaheed Muhtarma Benazir Bhutto. We have accepted the responsibility for the rehabilitation of the flood affected people in Gilgit-Baltistan, Khyber Pukhtun Khawa, Punjab, Sindh and Balochistan. Although the provinces have been given substantial money through eighteenth amendment and NFC, but the first priority of the PPP government is the rehabilitation of the flood affected people. President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani are seized of the matter. We neither have any complaints about who opposed the assistance under Kerry-Luger Bill meant for social welfare and the provision of potable water to the people nor cringe about who tried to put a question mark on the sincerity and honesty of the democratic government when the international community was coming forward to help the flood victims. The question is whether their opposition and prejudice was against us or the aggrieved human beings? It is the pledge of the PPP that the people devastated by the floods, will by the Grace of God, be rehabilitated. Their rehabilitation and prosperity is a mission of President Asif Ali Zardari and Prime Minister Syed Yousaf Raza Gilani. God willing we will succeed, we will succeed.
5
Tuesday, November 30, 2010
South East Asian stocks
Europe shares hit 7-week closing low; banks fall KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,145.02 11,163.43 18.41 0.17 90.29
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,473.52 3,487.77 14.25 0.41 5.30
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,854.89 2,857.21 2.32 0.08 0.21
Major Gainers
Symbol
Close
Change
RMPL 1,909.00 NESTLE 2,049.84 UPFL 1,050.00 COLG 895.51 EXIDE 171.11
58.40 54.87 14.50 10.51 8.14
Major Losers
Symbol SIEM BATA INDU SHEZ SCL
Close
Change
1,295.01 589.41 260.06 95.26 83.00
-30.61 -10.94 -5.44 -4.99 -3.98
Top 5 Volume Leaders
Symbol
Close Vol (mn)
DSFL DFML NCL AHCL KAPCO
2.15 1.54 22.84 25.80 39.41
17.26 6.43 5.30 4.15 4.12
Active Issues Plus Minus Unchanged
189 180 17
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Sep 10) 4,190 Urea Offtake (Sep 10) 324 Urea Price (Rs/50 kg) 851 DAP Offtake (Jan to Sep 09) 680 DAP Offtake (Sep 10) 226 DAP Price (Rs/50 kg) 2,628
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Oct 10) 26,842 Sales (July 10 to Oct 10) 25,279 Production (Octy 10) 7,311 Sales (Oct 10) 7,459
INDUS MOTOR CO Production (July 10 to Oct 10) 17,013 Sales (July 10 to Oct 10) 16,622 Production (Octy 10) 4,827 Sales (Oct 10) 4,830
HONDA ATLAS CAR Production (July 10 to Oct 10) Sales (July 10 to Oct 10) Production (Octy 10) Sales (Oct 10)
5,481 5,172 1,514 1,340
DEWAN FAROOQ MOTORS Production (July 10 to Oct 10) Sales (July 10 to Oct 10) Production (Octy 10) Sales (Oct 10)
186 70 0 18
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Nov 6,10) Advances (Nov 6,10) Investments (Nov 6,10) Spread (Sep 10)
4,729,932 3,011,868 1,897,426 7.57%
OIL MARKETING CO (000 tons) MS (Jul 10 to Oct 10) MS (Oct 10) Kerosene (Jul 10 to Oct 10) Kerosene (Oct 10) JP (Jul 10 to Oct 10) JP (Oct 10) HSD (Jul 10 to Oct 10) HSD (Oct 10) LDO (Jul 10 to Oct 10)) LDO (Oct 10) Fuel Oil (Jul 10 to Oct 10) Fuel Oil (Oct 10) Others (Jul 10 to Oct 10) Others (Oct 10)
PRICES (Ex-Refinery) MS (1 Nov 10) MS (1 Oct 10) MS % Chg Kerosene (1 Nov 10) Kerosene (1 Oct 10) Kerosene % Chg JP-1 (1 Nov 10) JP-1 (1 Oct 10) JP-1 % Chg HSD (1 Nov 10) HSD (1 Oct 10) HSD % Chg LDO (1 Nov 10) LDO (1 Oct 10) LDO % Chg Fuel Oil (1 Nov 10) Fuel Oil (1 Oct 10)
744 198 53 15 452 122 2,182 664 22 6 3,086 854 3 1
Rs 44.53 40.71 9.38% 51.25 47.31 8.33% 51.48 47.54 8.29% 54.24 50.38 7.66% 49.51 46.13 7.33% 42,046 39,276
Mostly recover; Thailand up after court ruling US stocks mid-morning
KSE flat as fingers stay crossed ahead of MPS Nawaz Ali KARACHI: Activities at the Karachi Stock Exchange (KSE) remained slow at the start of the week which closed with marginal gains as investors preferred to stay off trade ahead of the monetary policy announcement, later during the day. The benchmark KSE 100Index ended 18 points up at a level of 11,163 points on Monday while KSE 30-
Index went down by 3 points and KSE All Share Index gained 15 points to close at 10,745 and 7,765 points respectively. "The local bourse witnessed yet another range-bound session, with investors staying sidelined before the monetary policy announcement", said Ahmed Rauf, equity dealer at Js Global Capital. The monetary policy for the next two months was scheduled to be announced later
Indian shares snap 4-day losing streak MUMBAI: Indian shares rose for the first time in five sessions and gained 1.4 per cent on Monday, tracking world equities, while traders opted for large-cap bets as some of the companies under federal investigation in the bribes-for-loan scandal fell. Eight executives from the public and private financial institutions were arrested by the Central Bureau of Investigation last week in the scandal, one of several to dog the government of Prime Minister Manmohan Singh and test India's ability to crack down on corruption. Shares of Money Matters , a company at the centre of the controversy, dived 10 per cent and have lost nearly half the their market value since the news broke last week. DB Realty , named in court documents filed by the CBI, plunged 6.5 per cent although the company has denied any wrongdoing. The CBI is looking into bad loan write-offs by some banks and financial institutions involved in the scandal, the Times of India newspaper said on Monday. The 30-share BSE index rose 268.49 points, to 19,405.10 points, with 23 of its components advancing. The 50-share NSE Nifty climbed 1.4 per cent to 5,830
points. "We bounced back today after the sharp decline last week. B ut then, there is definitely a slight dent in the image of Indian corporates in the near term,' said Sanjeev Patni, president and head of institutional equities at Prabhudas Lilladher. "In the long run, if fundamentals prove themselves, things would stabilise again. The real estate sector recovered from early lows and closed 0.9 per cent higher, while the banking sector index gained 1.4 per cent. The CBI said those arrested included the chief executive of LIC Housing Finance and senior officials at staterun Central Bank of India , Punjab National Bank and Bank of India. LIC Housing erased early losses and added 1.7 per cent as Kotak Securities raised the stock to "add" from "reduce," saying it believes the recent price correction of the company's stock already factors in business moderation. Bank of India rebounded 6.2 per cent as Bank of America-Merrill Lynch upgraded the stock to "buy" from "neutral," dealers said. Punjab National Bank closed 2.4 per cent higher, while Central Bank shed 1.4 per cent.-Reuters
during the day and many analysts expected a 50bps increase in the key interest rates. After a slight positive start market showed some lackluster performance throughout the day moving in a limited range of 11,176 points (+ve 31) and 11,120 points (-ve 24) as investors remained cautious ahead on fears of rise in discount rate. Foreigners' activities too remained slow as according to
NCCPL they did a net- buying of $0.93 million on Monday. Local companies and mutual funds did a net-selling of $0.95 and $0.6 million respectively while banks did a net-buying of $0.5 million. Investor participation was little higher as 90.2 million shares traded during the day -6.1 million shares more as compared to a turnover of 84.1 million on Friday. However activities were restricted mainly in Dewan
FTSE takes tumbles on commodities
Weak yen helps Nikkei hit 5-mth top
LONDON: Britain's top share index ended sharply lower on Monday, seeing two months of gains wiped out, as heavyweight commodity issues dropped back with weaker metal prices, and only two banks managed modest gains. The FTSE 100 index dropped 117.75 points, or 2.1 per cent to close at 5,550.95, the day's low, having reversed from a session peak of 5,722.70. The UK blue chip index ended below the 5,600 level for the first time since Oct 1, just holding above that month's opening level of 5,548.62. "A monthly closing price reversal top could be a bearish sign that this market is getting ready to roll-over to the downside with 5,483 to 5,385 the next likely major downside target," said James A. Hyerczyk, an analyst at Autochartist. "A failure to hold the last swing bottom at 5,566 sets up this market for a further acceleration to the downside." Energy issues were the biggest blue-chip sector fallers, although the crude price held firm, with BG Group down 3.2 per cent and Royal Dutch Shell off 2.2 per cent. BP fell 1.8 per cent. The firm has agreed to sell its stake in Argentina-based oil and gas group Pan American Energy to Bridas Corp for $7 billion. See # 18 Page 11
HK shares rebound; Shanghai stocks weak HONG KONG/SHANGHAI: Hong Kong stocks rebounded from an eightweek low on Monday as investors scooped up beaten-down shares such as oil firm PetroChina Co Ltd , while Shanghai extended its recent losses. But turnover in both centres remained sluggish, indicating most investors were still unwilling to make new bets amid worries about what policy steps China will take next to bring down inflation, which hit a 25-month high in October. "Investors are still cautious about China's monetary tightening and the US dollar is strengthening as investors worry about the financial deterioration in some of the European countries," said Peter So, research head at CCB International, referring to Europe's weekend move to endorse an 85 billion euro aid package for debt-stricken Ireland. Investors were sceptical
that the rescue deal will prevent the euro zone debt crisis from engulfing Portugal and Spain. "In December, when most of this news is digested, there will be another buying opportunity," So added. Dealers expect at least a 25-basis point interest rate rise in China in December, and more increases in banks' reserve ratios next year as part of Beijing's efforts to keep lending growth from fueling inflationary pressures. The benchmark Hang Seng Index finished the session up 1.3 per cent at 23,166.22 points. The Shanghai Composite Index ended down 0.2 per cent at 2,866.4, extending its fall below the 250-day moving average, now at 2,880 points. In Hong Kong, PetroChina jumped 3.1 per cent as a rebound in oil prices inspired some bargain hunting, dealers said. The stock has shed 11 per cent in the last two weeks,
Wall Street falls as euro woes weigh, retailers off
underperforming the broader market, and hit a twomonth low on Friday. The HSI has fallen 7 per cent during the same period, echoing a global retracement as investors reduced exposure to riskier assets and booked profits heading into the year end. Chinese automakers, particularly those with a tie-up with foreign companies, such as Dongfeng Motors , dropped since these firms would no longer be exempted from paying some taxes including the city construction tax from Dec 1. Dongfeng slid 5.3 per cent and GAC Group dropped 8.2 per cent. Exporter Li & Fung added 4.7 per cent to hit a record high, extending last week's gains, as the start of the US holiday shopping season saw brisk consumer spending. Turnover fell for a fourth straight day to HK$65 billion ($8.4 billion), the lowest in more than two months.-Reuters
TOKYO: Japan's Nikkei average rose 0.9 per cent on Monday to its highest close in five months as the yen softened against the dollar, but the gains were capped by profit-taking and concerns over the euro zone and North Korea. The yen hit a fresh twomonth low against the dollar in early Asia trade, lifting shares of exporters such as Sony Corp and helping the market to regain a positive tone that has fueled a rally of about 10 per cent this month. Market participants said an 85 billion euro ($112 billion) bailout of Ireland had calmed markets for now, but in the long run there were fears that contagion would strike fellow strugglers Spain and Portugal. "The dollar moving above 84 yen is the biggest supporting factor today," said Koichi Nosaka, a market analyst at Securities Japan, Inc. The benchmark Nikkei added 86.43 points to 10,125.99, its highest finish since June 21. The broader Topix index advanced 0.9 per cent to 874.59. But market players said Tokyo stocks will struggle to post further quick gains. "There are too many economic and political uncertainties for the market to go much higher than this. We don't know what
Group stocks over the announcement that the group is in the process of sell-off of Bawany Sugar. Dewan Salman Fiber Limited was the volume leader with 17.26 million shares followed by Dewan Farooq Motors with 6.43 million shares and Nishat Chunian with 5.3 million shares. Out of total 386 active issues 189 advanced and 180 declined while 17 issues remained unchanged.
North Korea will do next," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management. Caution ahead of eagerly awaited US employment figures due on Friday was also preventing investors from taking more active positions. "Above 10,100, profit-taking tends to emerge, because the Nikkei has risen so much over such a short period of time," Akino said. EXPORTERS HELP If the Nikkei can hold above 10,100 in the near term that would boost the confidence of retail investors, and in turn possibly set the stage for a climb as high as 10,700, he added. Foreigners have been shifting funds back to lagging Tokyo equities after US monetary easing lifted expectations of more liquidity in financial markets. If the Nikkei ends November up more than 9.5 per cent - it is up 10.6 per cent as of Monday's close - it would score its biggest monthly per centage gain since last December. Shares of exporters gained as the yen weakened, with Sony Corp rising 2.8 per cent to 2,970 yen and Kyocera Corp up 1.9 per cent at 8,600 yen. Honda Motor Co was up 0.7 per cent at 3,095 yen. See # 17 Page 11
ANNOUNCEMENTS Company Exide (PAK)
Period Half Yearly
Div/Bon/Right PAT (Rs in mn) 119.63
EPS(Rs) 21.17
NEW YORK: Stocks fell more than 1 per cent on Monday on lingering worries about Europe's ability to contain a credit crisis despite a weekend bailout agreement for Ireland. The euro fell to more than two-month lows against the US dollar, hurting commodity prices and shares in the materials and energy sectors. European Union finance ministers endorsed an 85 billion euro loan package to help Ireland bridge its deficit. Nervousness that the credit crisis could spread to other euro zone members has weighed on global stocks in recent weeks. Anxiety grew, with the CBOE Volatility index, Wall Street's so-called fear gauge, hitting its highest level since early October. Adding to the fundamental weakness, the S&P 500 failed to hold a technical support as it briefly traded below its 50-day moving average for the first time since early September. "This seems to be more of a macro selloff based on fears of what's happening in Europe," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore. "A lot of people don't understand the ramifications here. If Europe is having these systemic problems, it brings the question of whether our economic recovery is put on hold." The Dow Jones industrial average dropped 133.73 points, or 1.21 per cent, to 10,958.27. The Standard & Poor's 500 lost 12.16 points, or 1.02 per cent, to 1,177.24. The Nasdaq Composite fell 32.11 points, or 1.27 per cent, to 2,502.45. The S&P materials index declined 1.3 per cent, while the energy sector was off 0.8 per cent. US consumers appeared to be spending again as about 212 million shoppers hit stores between the US Thanksgiving Day holiday on Thursday and Sunday, an increase of 8.7 per cent from 2009, according to a private survey. Still, the S&P retail index fell 1.2 per cent after climbing 3.5 per cent in the last two weeks. See # 16 Page 11
Dhiyan
CORRECTION, BUT NOT A BIG ONE Naeem Rafi, CEO Rafi Securities Following a rise in the discount rate, ongoing technical correction would continue in the market with index losing 200-250 points more, but it must be said that after that we might see a rebound. Investors are advised to wait and invest at dips in oil, cement, and banking stocks. Launch of Margin Trading System (MTS) and injection of liquidity would act as triggers for the market. We believe, market is likely to decline today in reaction to discount rate hike, however if government institutions jump in to support, it may end positive.
Khurram Schehzad, Head of Research Invest Cap There won’t be any significant correction today as 50bps increase in discount rate has already been priced in by the market. Moreover support would also seen at lower levels. In the short-term, market is expected to stay mixed in the absence of triggers, however foreign buying can take market upwards gradually. Investors are recommended to remain on the sidelines and accumulate at dips in oil, power, fertiliser, and telecom sectors. Launch of Margin Trading System (MTS), appointment of Farrukh Khan as Chairman SECP and improvement in the economic indicators would spur the market.
6
Tuesday, November 30, 2010
Market 90,293,439
Value
2,319,528,738
Trades
45,660
Paid up Cap(mn)
Advanced Declined Unchanged Total
Current High Low Change
189 180 17 386
All Share Index
11,163.43 11,176.08 11,120.95 h18.41
Current High Low Change
KSE 30 Index
7,765.82 7,776.55 7,738.68 h15.81
Current High Low Change
KMI 30 Index Current High Low Change
10,745.17 10,759.98 10,707.80 i3.13
17,826.34 17,894.53 17,780.96 i14.26
OIL AND GAS
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index
Performance of SR Industrial Transportation Index
Open 1,455.22 Turnover 4,876,468 P/E (x) 10.75 Company
KSE 100 Index
Symbols
Volume
PE
Open
High
High Low 1,464.80 1,444.78 Total cos Defaulter cos P/BV (x) ROE (%) 3.50 32.54 Low
Close Chg
Close Change 1,457.50 2.28 Listed cap Market cap 65,194.15 mn 1,141,498.95 mn Payout (%) Div Yield (%) 55.94 5.20 Last 60 days High Low
Volume
% Change 0.16 5-Day High 1,457.50 5-Day Low 1,451.96
Open 736.26 Turnover 232 P/E (x) 5.56
2009 Div BR (%) (%)
2010 Div BR (%) (%)
Company Pak Int Cont. Terminal
Attock Petroleum
691
5.52 318.37
319.00 315.80 318.44
0.07
326332
374.20
287.99
250
-
300
20
Attock Refinery
853
7.19 127.10
129.89 126.90 128.34
1.24
2532293 129.89
76.20
-
-
-
-
9.84
-
High Low 743.77 726.11 Total cos Defaulter cos P/BV (x) ROE (%) 1.42 25.53
Close 731.63 Listed cap 3,242.17 mn Payout (%) 11.08
Change -4.63 Market cap 12,731.44 mn Div Yield (%) 1.99
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1092
7.11
72.06
72.50
71.05
71.06 -1.00
151
78.20
60.05
-
-
-
AUTOMOBILE AND PARTS
Mari Gas Company
735 16.14 119.59
119.93 118.72 119.08 -0.51
20964
128.90
106.00 32.17 100B
31
-
Performance of SR Automobile and Parts Index
National Refinery
800
264.85 261.00 262.75
85215
273.00
189.08
200
-
BYCO Petroleum
3921
-
12.06
3.89 260.71
12.14
11.85
11.91 -0.15
Oil & Gas Development 43009 11.08 163.34
164.20 162.00 163.76
Pak Petroleum Pak Oilfields XD Pak Refinery Limited
12.49
125
-
0.42
136641
167.00
136.90
82.5
-
55
-
11950
8.19 202.09
202.95 200.30 201.47 -0.62
218074
214.10
168.70
130
20B
90
20B
2365
6.30 265.25
268.85 264.00 266.87
1389159 272.25
215.40
180
-
255
-
87.39
48.26
-
-
-
-
292.15
233.10
350
PSO
2.04
1405296
1715
-
81.74
4.79 283.27
Shell Gas LPG
226
Shell Pakistan
685 10.26 201.34
-
37.96
82.29
81.41
1.62
81.46 -0.28
284.10 282.01 282.76 -0.51
2600
50
-
80
-
0.09
7601
40.28
27.75
-
-
-
-
203.00 198.12 200.00 -1.34
4407
204.00
182.05
330
-
40
-
39.80
37.35
38.05
153182
CHEMICALS Performance of SR Chemicals Index Open 1,257.60 Turnover 23,855,713 P/E (x) 7.86 Company
Paid up Cap(mn)
BOC (Pak) Clariant Pak
High Low 1,265.95 1,250.28 Total cos Defaulter cos P/BV (x) ROE (%) 2.75 35.00
Close 1,255.59 Listed cap 52,251.88 mn Payout (%) 48.81
Change -2.01 Market cap 278,761.94 mn Div Yield (%) 6.21
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
250 11.38
81.79
83.40
81.80
82.82 1.03
4599
87.99
66.90
90
% Change -0.16 5-Day High 1,259.74 5-Day Low 1,255.43
2009 Div BR (%) (%) -
15
-
273
5.85 154.00
154.30 153.00 153.00 -1.00
660
164.89
149.72
125
-
-
-
7.16 173.20
173.99 172.00 172.65 -0.55
17764
185.00
157.04
40
10B
40
-
2.90 8.27 2.21
1.78 3.20 1.28
-
-
-
-
40
-
-
-
1996 1020 3663
Engro Corporation Ltd
3277
Engro Polymer
6635
Fatima Fertilizer
22000
-
2.55 7.36 1.53
9.99 182.57 -
13.59 9.79
Fauji Fertilizer XD
6785
8.05 111.54
Fauji Fert. Bin Qasim Ghani Gases Ltd
9341 725
6.41 8.86
ICI Pakistan
1388
7.65 135.02
Ittehad Chemical Lotte Pakistan
360 10.73 15142 4.22
Mandviwala Nimir Ind Chemical
33.90 11.48
2.56 7.67 2.21
2.37 7.11 1.59
2.47 -0.08 7.29 -0.07 2.15 0.62
183.00 180.90 181.80 -0.77
49574 170593 17256410 361233
186.74
165.60
6010B 40R
13.56 -0.03
334554
15.20
11.15
- 27.5R
9.69 -0.10
380690
11.74
111.80 111.00 111.03 -0.51
163481
112.60
2246604 169481
34.60 13.85
26.59 7.41
40 -
138.50
116.00
28.85 12.19
21.00 7.85
13.90 9.92 34.40 12.40
13.51 9.65 33.80 11.46
33.99 0.09 11.69 0.21
136.00 134.51 135.71 0.69
28.30 11.89
28.79 11.99
28.70 11.78
28.75 0.45 11.81 -0.08
56426 1000 2301885
9.11
-
-
-
-
102.96 131.5
10B
95
-
-
17.5 -
-
80
-
55
-
15 5
-
5 -
-
74
-
1.64
1.75
1.43
1.60 -0.04
6975
3.00
0.80
-
-
-
-
1106
-
1.49
1.58
1.49
1.51 0.02
677738
1.65
1.16
-
-
-
-
127.20
101.00
75
-
25
5B
14.69
7.67
-
-
-
-
Sitara Chem Ind
214 10.23 120.49
Sitara Peroxide
551 14.57
13.52
126.51 120.00 124.82 4.33 13.59
13.32
13.40 -0.12
315 85863
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,065.20 Turnover 16,541 P/E (x) 5.49 Company
High Low 1,111.37 1,063.92 Total cos Defaulter cos P/BV (x) ROE (%) 0.41 7.47
Close 1,073.66 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
7.79 6.10
15.85 39.66 39.50
16.49 40.52 41.40
15.78 39.96 39.50
16.10 0.25 40.52 0.86 39.54 0.04
10441 2086 4014
Century Paper Pak Paper Product Security Paper
Change 8.46 Market cap 2,975.42 mn Div Yield (%) 4.60
Last 60 days High Low 21.80 62.85 41.50
15.28 38.61 38.00
Company
Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Honda Dewan Motors Exide (PAK) Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering
% Change 0.79 5-Day High 1,080.72 5-Day Low 1,065.20
2009 Div BR (%) (%)
2010 Div BR (%) (%)
- 425R 20 50 -
25 33.33B 50 -
Open
High
Low
144 5.30 101 4.72 626 7.41 890 56 4.04 450 3.28 200 6.88 1428 786 5.94 823 11.78 150 3.61
70.00 157.80 104.00 1.42 162.97 4.83 4.31 12.16 265.50 73.25 19.33
70.01 160.00 104.00 1.63 171.11 4.90 4.40 12.48 267.00 74.00 19.98
69.00 157.55 102.20 1.48 164.00 4.70 4.31 11.90 255.00 73.11 19.32
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Metro Steel Siddiqsons Tin
PE
565 3.84 675 555 9.41 1199 10.71 310 785 10.34
Open 24.90 2.95 14.88 51.48 7.00 8.81
High 25.40 2.95 15.39 53.21 6.50 9.10
Low 24.51 2.90 14.40 50.00 6.11 8.81
Close Chg 24.60 2.90 15.06 51.43 6.23 9.10
-0.30 -0.05 0.18 -0.05 -0.77 0.29
Close 973.16 Listed cap 3,596.11 mn Payout (%) 30.91
Change -0.93 Market cap 9,513.25 mn Div Yield (%) 9.71
Last 60 days High Low
Volume 64712 16119 59860 158441 752 1624
26.00 3.39 16.75 64.02 10.45 10.80
23.75 1.65 12.25 44.00 6.11 8.00
% Change -0.10 5-Day High 977.92 5-Day Low 962.33
2009 Div BR (%) (%) 10
30B -
2010 Div BR (%) (%) 30 40 7.5
Open 1,554.54 Turnover 1,084,814 P/E (x) 34.10 Company Adam Sugar AL-Noor Sugar Bawany Sugar Chashma Sugar Clover Pakistan Colony Sugar Mills Crescent Sugar Dewan Sugar Faran Sugar Habib Sugar Habib-ADM Ltd Haseeb Waqas Ismail Ind J D W Sugar Mehran Sugar Mirpurkhas Sugar Mirza Sugar National Foods Nestle Pakistan XD Noon Sugar Pangrio Sugar Premier Sugar Quice Food Sanghar Sugar Shahmurad Sugar Shakarganj Mills Tandlianwala Wazir Ali
Paid up Cap(mn) 58 186 87 287 94 990 214 365 217 600 200 324 505 490 143 70 141 414 453 165 109 38 107 119 211 695 1177 80
PE
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Berger Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Flying Cement Ltd Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Thatta Cement
PE
Open
High
Low
1828 866 6.62 182 956 27.25 982 13.08 3574 3651 115.88 350 3.90 6933 15.09 1760 2319 32 1288 13126 3234 6.69 5261 1.37 541 4.04 2228 798 472.00
3.25 64.44 19.03 11.80 1.65 1.69 28.08 3.00 5.00 1.80 5.70 0.51 7.08 2.96 74.24 2.89 6.00 6.98 19.80
3.25 64.85 20.03 12.30 1.70 2.05 28.10 3.99 5.05 1.92 6.50 0.60 7.15 3.10 74.65 2.97 5.50 7.12 19.79
3.11 62.71 18.50 11.58 1.68 1.66 27.67 2.47 4.96 1.76 4.87 0.50 7.05 3.00 73.01 2.90 5.00 6.80 18.80
Close 992.46 Listed cap 54,792.74 mn Payout (%) 19.04
Change -0.63 Market cap 71,414.73 mn Div Yield (%) 2.70
Close Chg
Volume
Last 60 days High Low
2009 Div BR (%) (%)
3.20 62.92 20.00 11.99 1.70 1.95 27.81 3.28 4.98 1.88 5.91 0.54 7.08 3.03 74.43 2.94 5.50 6.82 18.88
4568 6189 54362 414 13000 3916433 705841 181 251267 57965 57705 52010 11714 301712 297564 20212 2000 888438 103
4.20 69.86 20.10 12.75 2.20 2.05 31.05 4.70 5.50 2.20 6.50 1.48 8.70 3.65 79.98 3.40 8.89 8.58 22.24
50 40 9.75 -
-0.05 -1.52 0.97 0.19 0.05 0.26 -0.27 0.28 -0.02 0.08 0.21 0.03 0.00 0.07 0.19 0.05 -0.50 -0.16 -0.92
2.80 57.60 14.01 9.51 1.30 1.30 23.02 2.11 4.52 1.70 2.11 0.25 5.50 2.71 65.20 2.51 3.51 6.56 18.00
20B 20R -
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 951.68 Turnover 222,955 P/E (x) 2.67 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Packages Ltd Siemens Engineering Tri-Pack Films
Close 949.56 Listed cap 3,043.31 mn Payout (%) 15.55
Change -2.12 Market cap 35,366.53 mn Div Yield (%) 5.83
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
115 230
2.43 -
65.01 2.17
68.26 2.25
64.50 2.02
68.26 3.25 2.12 -0.05
69705 33756
68.26 2.64
1067 4.55 49.49 50.50 49.25 49.50 0.01 389 2.81 2.95 2.43 2.58 -0.23 844 53.90 105.18 106.50 103.62 105.11 -0.07 82 10.69 1325.62 1340.00 1259.34 1295.01-30.61 300 8.19 107.29 112.65 107.21 112.34 5.05
% Change -0.22 5-Day High 956.76 5-Day Low 948.86
2009 Div BR (%) (%)
2010 Div BR (%) (%)
34.00 1.70
-
-
20 -
25B -
1970 61.99 45.75 1200 3.84 1.60 646 112.75 98.00 1070 1381.00 1068.75 114608 112.65 91.00
30 32.5 900 100
10B -
25 900 -
10B -
72.99 188.90 122.51 1.80 171.11 6.09 5.75 13.40 282.45 79.50 27.58
63.01 131.00 92.50 1.16 121.10 4.03 3.55 9.65 212.29 69.25 17.92
Open
High
Low
Close Chg -0.19 0.00 0.82 -0.24 2.41 0.00 0.65 0.99 -0.04 -0.31 -0.19 0.25 -1.07 -2.14 0.90 -0.04 -0.40 0.08 54.87 0.19 0.09 2.21 -0.05 0.45 -0.07 -0.35 1.50 0.60
Close 1,571.52 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Last 60 days High Low
1201 16.90 10.50 604 52.00 39.25 604120 3.29 0.85 810 15.47 8.50 850 56.40 33.33 750 4.00 2.54 17500 6.95 5.50 371529 2.82 1.11 500 20.99 16.01 22593 36.00 25.90 300 16.98 11.90 17060 22.00 16.50 210 77.70 66.25 1410 81.95 60.10 571 64.00 48.50 2478 62.77 53.64 3506 6.48 4.20 663 57.00 39.01 9506 2060.00 1710.00 1525 14.84 10.20 401 6.50 4.00 3627 48.00 32.50 6000 3.40 1.60 7510 14.90 13.00 4000 13.20 8.25 632 7.24 3.21 2301 35.50 27.50 2600 7.96 4.75
Open 1,090.21 Turnover 29,178 P/E (x) 2.87 Company
Paid up Cap(mn)
Pak Elektron Singer Pak Tariq Glass Ind
PE
1174 3.59 341 20.22 231 1.93
Open 14.16 18.01 16.39
High 14.25 18.00 16.80
High Low 1,100.77 1,090.14 Total cos Defaulter cos P/BV (x) ROE (%) 0.30 10.64 Low 14.05 18.00 16.15
Close Chg 14.24 0.08 18.00 -0.01 16.15 -0.24
Close 1,095.19 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 26612 200 2308
Last 60 days High Low 15.43 24.14 18.80
12.82 16.51 14.50
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Open 967.34 Turnover 10,757,497 P/E (x) 6.64 Company
Paid up Cap(mn)
(Colony) Thal Ali Asghar Textile Amtex Limited XD Artistic Denim Azgard Nine Bannu Woolen XD Bata (Pak) Chakwal Spinning XD Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute D S Ind Ltd Dawood Lawrencepur Dewan Farooque Spin. Dewan Khalid Textile Dewan Mushtaq Textile Din Textile Gadoon Textile XD Gul Ahmed Textile Gulistan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Khalid Siraj Kohinoor Ind Kohinoor Spinning XD Kohinoor Textile Maqbool Textile XD Mehmood Textile XD Mukhtar Textile N P Spinning XD Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Prosperity Quality Textile Ravi Textile Redco Textile Reliance Weaving Saif Textile Salfi Textile Sally Textile XD Samin Textile Sana Ind Service Ind Shadab Textile XD Shadman Cot Shahpur Textile Suraj Cotton Tata Textile Thal Limited Treet Corp Yousuf Weaving Zil Limited
56 222 2415 840 4493 76 76 400 1150 316 2442 238 600 514 600 57 34 204 234 635 146 716 3105 107 303 1300 1455 168 150 145 147 1586 3516 560 174 62 185 160 250 213 308 264 33 88 134 55 120 30 176 140 180 173 307 418 400 53
PE
Open
1.10 27.50 1.00 10.80 4.80 5.81 19.90 - 11.14 0.46 13.70 4.89 600.35 0.46 1.13 3.20 33.62 885.00 4.06 2.44 0.85 1.84 45.75 38.57 4.83 5.00 0.19 1.50 0.17 4.90 0.58 26.30 0.52 47.44 3.45 24.75 1.40 8.34 0.72 3.85 3.13 38.49 0.79 1.54 0.36 0.90 4.21 5.85 2.02 7.15 0.70 54.10 0.45 7.92 22.25 1.90 24.04 4.96 57.47 2.26 6.36 0.60 8.99 0.45 29.00 1.11 14.88 0.75 11.74 1.52 0.70 0.63 9.23 0.46 5.90 0.24 50.41 0.20 3.72 4.77 6.00 2.80 35.99 7.81 229.59 0.34 11.00 1.80 10.90 0.83 0.55 0.80 35.00 0.30 30.48 4.25 99.05 8.64 53.93 0.42 1.30 3.30 48.49
2010 Div BR (%) (%)
AL-Ghazi Tractor Bolan Casting
215 104
5.09 211.64 - 44.70
214.50 211.02 212.48 45.01 45.00 45.00
0.84 0.30
2090 260
227.45 51.99
200.00 40.30
400 -
20B
150 25
10B
Ghandhara Ind Hinopak Motor KSB Pumps
213 10.28 11.03 124 - 133.50 132 8.38 69.95
11.39 11.10 11.10 134.25 130.00 134.08 69.99 68.83 69.95
0.07 0.58 0.00
6055 604 337
18.80 147.89 88.00
10.55 108.11 17.15 68.81 35
-
-
-
Millat Tractors XB
366
496.95 490.01 491.84 -2.34
66002
597.90
390.00
25B
650
25B
6.43 494.18
450
20B 20B
RSI (14-day)
57.48
Total Assets (Rs in mn)
16,668.04
MA (10-day)
1.67
Total Equity (Rs in mn)
(5,909.01)
MA (100-day)
1.61
Revenue (Rs in mn)
MA (200-day)
1.86
Interest Expense
1st Support
1.79
Loss after Taxation
2nd Support
1.38
EPS 09 (Rs)
1st Resistance
2.41
Book value / share (Rs)
2nd Resistance
2.62
PE 10 E (x)
Pivot
2.00
PBV (x)
4,169.62 2,050.22 (6,233.79) (17.017) (16.13) (0.13)
DSFL closed up 0.62 at 2.15. Volume was 2,579 per cent above average (trending) and Bollinger Bands were 20 per cent wider than normal DSFL is currently 15.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into DSFL (bullish). Trend forecasting oscillators are currently bullish on DSFL. Momentum oscillator is currently indicating that DSFL is currently in an overbought condition.
Japan Power Generation Limited
% Change 1.09 5-Day High 1,571.52 5-Day Low 1,547.85
2009 Div BR (%) (%)
2010 Div BR (%) (%)
10 40 17.5 35 40 15 40 35 25 600 50 30 10 15 -
15 40 17.5 110R 0 12.5R 25 10B 12 450 -
25B 30B 10B 25B 10B -
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
59.99
Total Assets (Rs in mn)
7,598.16
MA (10-day)
1.57
Total Equity (Rs in mn)
(1,042.83)
MA (100-day)
1.65
Revenue (Rs in mn)
MA (200-day)
2.07
Interest Expense
1st Support
1.45
Loss after Taxation
2nd Support
1.20
EPS 10 (Rs)
(2.89)
1st Resistance
2.05
Book value / share (Rs)
(6.68)
2nd Resistance
2.40
PE 11 E (x)
Pivot
1.80
PBV (x)
2,731.94 691.43 (449.11)
(0.25)
JPGL closed up 0.16 at 1.70. Volume was 2,360 per cent above average (trending) and Bollinger Bands were 48 per cent narrower than normal. The company's loss after taxation stood at Rs403.263 million which translates into a Loss Per Share of Rs2.58 for the 1st quarter of current fiscal year (1QFY11). JPGL is currently 17.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into JPGL (mildly bullish). Trend forecasting oscillators are currently bearish on JPGL.
Mybank Limited
2009 Div BR (%) (%) -
10B 10B -
% Change 0.46 5-Day High 1,098.64 5-Day Low 1,082.94 2010 Div BR (%) (%) 17.5
10B -
High
High Low 975.11 956.55 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 8.64 Low
Close Chg
1.10 1.10 1.10 0.00 1.10 1.10 1.10 0.10 4.96 4.73 4.75 -0.05 20.90 20.16 20.90 1.00 11.19 10.90 10.96 -0.18 13.80 12.95 12.96 -0.74 607.00 580.00 589.41-10.94 1.75 1.00 1.05 -0.08 3.48 3.21 3.29 0.09 920.00 890.00 895.51 10.51 2.64 2.60 2.60 0.16 0.80 0.60 0.60 -0.25 1.97 1.85 1.86 0.02 39.85 38.15 38.89 0.32 6.00 4.03 5.99 0.99 2.48 2.29 2.45 0.95 5.80 4.30 5.50 0.60 27.00 25.75 26.85 0.55 47.50 47.01 47.50 0.06 24.01 24.00 24.01 -0.74 8.86 7.35 7.35 -0.99 4.00 3.80 3.81 -0.04 40.41 38.50 39.75 1.26 0.79 0.70 0.70 -0.09 1.79 1.47 1.60 0.06 1.20 1.00 1.00 0.10 5.89 5.73 5.89 0.04 7.26 7.25 7.26 0.11 56.80 56.80 56.80 2.70 0.60 0.22 0.33 -0.12 22.50 22.45 22.49 0.24 24.03 22.84 22.84 -1.20 58.20 56.80 57.73 0.26 6.98 6.40 6.70 0.34 8.25 8.25 8.25 -0.74 28.50 28.00 28.15 -0.85 14.80 14.00 14.50 -0.38 12.49 12.49 12.49 0.75 1.52 1.45 1.50 -0.02 0.70 0.70 0.70 0.00 9.49 9.02 9.02 -0.21 6.85 4.90 5.78 -0.12 52.93 48.00 51.96 1.55 4.05 3.80 4.05 0.33 6.05 5.72 5.72 -0.28 37.25 34.50 36.87 0.88 231.99 218.12 228.03 -1.56 12.00 11.90 11.92 0.92 9.90 9.90 9.90 -1.00 0.60 0.49 0.60 0.05 35.50 34.00 35.50 0.50 32.00 31.00 31.10 0.62 99.50 98.63 99.38 0.33 55.00 53.70 54.28 0.35 1.29 1.00 1.20 -0.10 49.25 47.50 49.25 0.76
Close 964.36 Listed cap 47,070.70 mn Payout (%) 16.68
Volume 500 2000 163513 12319 783791 501 1314 6273 23406 232 1001 42098 21051 2421 1484 17000 1085 4508 446 323 2028 442379 10002 15101 26547 150 101 400 901 1140 550 5299023 3608089 14821 500 520 1003 500 13926 25000 4501 193 501 803 25001 43365 34012 120 3480 500 1185 1442 5267 83251 2501 3008
Change -2.98 Market cap 127,595.79 mn Div Yield (%) 2.51
Last 60 days High Low 2.00 2.21 18.88 24.05 12.32 14.50 747.48 2.59 3.95 930.00 3.40 1.90 2.37 44.50 8.00 2.90 6.88 30.90 52.50 25.96 8.86 4.88 40.41 1.20 1.93 2.00 6.30 11.55 68.80 0.97 24.66 25.14 58.99 7.48 11.25 31.03 21.47 12.49 2.38 1.20 12.00 6.85 52.93 6.20 8.69 38.40 255.29 12.00 15.00 1.90 37.50 35.50 112.80 55.25 1.80 49.25
0.52 0.61 4.40 17.55 8.80 7.50 436.00 0.56 3.00 615.00 2.23 0.16 1.44 36.10 2.05 0.26 1.60 20.80 33.80 19.99 5.00 3.35 34.05 0.25 1.01 0.16 4.51 3.25 51.46 0.16 19.19 15.25 40.81 5.16 6.00 25.71 12.51 7.51 1.38 0.61 8.01 2.01 20.50 2.92 5.02 27.50 169.00 7.56 8.00 0.18 29.00 15.00 86.50 37.20 0.73 33.00
2009 Div BR (%) (%)
% Change -0.31 5-Day High 967.41 5-Day Low 964.36 2010 Div BR (%) (%)
30 20 20 20 120 5 115 15B 5 20 10B 70 5 - 12.5 - 10B 10 10 20 5 - 22.5 4050.2257B 60 20 - 50R 15 20 25 45R 12.5 - 10B 10 10B 7.5 50 20 30 15 - 25SD 25 10 - 100R 35 60 200 10 15 50 25 20 20B 80 20B 40 10B 35 -
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
65.84
Total Assets (Rs in mn)
35,490.71
MA (10-day)
2.10
Total Equity (Rs in mn)
5,104.86
MA (100-day)
2.27
Revenue (Rs in mn)
3,368.22
MA (200-day)
3.05
Interest Expense
1st Support
2.11
Loss after Taxation
2nd Support
1.72
EPS 09 (Rs)
1st Resistance
2.79
Book value / share (Rs)
2nd Resistance
3.08
PE 10 E (x)
Pivot
2.40
PBV (x)
Open 882.69 Turnover 53,149 P/E (x) 6.84 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 165 200 96 306
PE
Open
8.72 98.87 6.29 83.08 13.16 73.17 7.32 25.17 6.34 7.61 10.18 122.00 5.49 61.40
High
High Low 891.85 876.03 Total cos Defaulter cos P/BV (x) ROE (%) 1.53 22.31 Low
Close Chg
99.50 98.90 99.50 0.63 85.00 83.00 83.22 0.14 73.55 72.45 73.17 0.00 26.42 25.05 26.42 1.25 8.00 7.50 7.86 0.25 128.10 116.00 128.00 6.00 62.00 60.50 61.03 -0.37
Close 886.35 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 2200 2499 8191 27651 2851 1201 8547
Change 3.66 Market cap 29,585.45 mn Div Yield (%) 6.51
Last 60 days High Low 104.00 124.00 75.99 26.42 9.00 139.50 64.50
78.00 82.20 65.00 22.60 6.10 115.90 57.00
2009 Div BR (%) (%) 120 10 50 25 70 15
20B 15B
% Change 0.41 5-Day High 886.35 5-Day Low 878.79 2010 Div BR (%) (%) 20 30
20B -
2,881.90 (1,639.83) (3.092) 9.63 0.26
MYBL closed up 0.49 at 2.50. Volume was 1,718 per cent above average (trending) and Bollinger Bands were 11 per cent narrower than normal. The company's loss after taxation stood at Rs1.392 billion which translates into a Loss Per Share of Rs0.74 for the nine months of current calendar year (9MCY10). MYBL is currently 18.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into MYBL (mildly bullish). Trend forecasting oscillators are currently bearish on MYBL.
KASB Bank Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
55.65
Total Assets (Rs in mn)
59,223.06
MA (10-day)
2.39
Total Equity (Rs in mn)
4,958.87
MA (100-day)
2.71
Revenue (Rs in mn)
5,061.63
MA (200-day)
3.34
Interest Expense
1st Support
2.35
Loss after Taxation
2nd Support
2.15
EPS 09 (Rs)
1st Resistance
2.65
Book value / share (Rs)
2nd Resistance
2.75
PE 10 E (x)
Pivot
2.45
PBV (x)
5,490.40 (4,227.75) (4.446) 5.22 0.49
KASBB closed up 0.29 at 2.54. Volume was 559 per cent above average (trending) and Bollinger Bands were 51 per cent narrower than normal. The company's loss after taxation stood at Rs1.571 billion which translates into a Loss Per Share of Rs2.20 for the nine months of current calendar year (9MCY10). KASBB is currently 24.0 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 volume flowing into and out of KASBB at a relatively equal pace. Trend forecasting oscillators are currently bearish on KASBB.
BOOK CLOSURES From
To
Punjab Oil Mills #
Company
30-Nov
6-Dec
-
-
6-Dec
East West Insurance Co
1-Dec
7-Dec
10(B)
23-Nov
-
Dawood Hercules Chemicals #
2-Dec
8-Dec
-
-
Askari Gen Insurance
2-Dec
8-Dec
25(R)
-
-
Dawood Hercules
2-Dec
8-Dec
-
-
-
MCB Bank
3-Dec
10-Dec
30(iii)
25-Nov
-
Dawood Hercules Chemicals
7-Dec
13-Dec
20(ii)
29-Nov
-
Pakistan Premier Fund
7-Dec
14-Dec
-
-
Engro Corporation (Standalone)
7-Dec
21-Dec
20(ii)
29-Nov
-
Fauji Fertilizer Bin Qasim
14-Dec
20-Dec
12.50(iii)
-
-
Oil and Gas Development Co
14-Dec
21-Dec
15(i)
-
-
20-Dec
29-Dec
600
-
29-Dec
Siemens Pakistan
% Change -0.16 5-Day High 1,547.41 5-Day Low 1,531.72
2009 Div BR (%) (%)
90 100 60 150 10
20B 30B 20B
PERSONAL GOODS
Performance of SR Pharma and Bio Tech Index
Change -2.48 Market cap 32,178.69 mn Div Yield (%) 16.14
40 100 80 50 100 5 -
Performance of SR Personal Goods Index
Performance of SR Industrial Engineering Index Close 1,539.82 Listed cap 1,336.62 mn Payout (%) 131.49
% Change -1.04 5-Day High 1,196.95 5-Day Low 1,170.25 2010 Div BR (%) (%)
Change 4.98 Market cap 5,126.26 mn Div Yield (%) 2.19
PHARMA AND BIO TECH
High Low 1,553.27 1,533.15 Total cos Defaulter cos P/BV (x) ROE (%) 3.10 38.02
-
2009 Div BR (%) (%)
Change 16.98 Market cap 203,147.23 mn Div Yield (%) 0.90
INDUSTRIAL ENGINEERING Open 1,542.30 Turnover 75,352 P/E (x) 8.15 Company
High Low 969.36 928.25 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 43.91
Last 60 days High Low
40
Fundamental Highlights As on Jun 30, 2009
Technical Analysis
HOUSEHOLD GOODS
20B -
% Change -0.06 5-Day High 1,013.88 5-Day Low 992.46
3855 1520 693 6430658 1472 7001 999 25045 33652 7596 8002
Change -12.31 Market cap 42,151.38 mn Div Yield (%) 4.70
2010 Div BR (%) (%)
Performance of SR Household Goods Index
Performance of SR Construction and Materials Index High Low 1,002.99 978.05 Total cos Defaulter cos P/BV (x) ROE (%) 0.50 7.10
0.00 0.20 -1.73 0.12 8.14 -0.11 0.09 -0.16 -5.44 0.74 0.04
High Low 1,603.09 1,538.40 Total cos Defaulter cos P/BV (x) ROE (%) 10.33 30.30
0.88 16.70 16.55 16.50 16.51 5.08 50.00 51.70 50.00 50.00 2.42 3.29 2.77 3.24 1.06 13.35 13.48 13.10 13.11 9.17 53.73 56.40 53.90 56.14 3.40 3.65 3.26 3.40 11.60 5.50 6.15 6.14 6.15 1.82 2.82 1.99 2.81 3.31 20.55 20.51 20.50 20.51 6.85 33.53 33.70 33.05 33.22 11.39 12.49 12.30 12.30 12.30 - 17.50 18.00 16.50 17.75 32.50 73.87 72.80 72.80 72.80 2.58 79.25 78.00 77.10 77.11 3.50 61.60 63.69 59.01 62.50 6.11 58.19 60.00 57.10 58.15 0.37 6.39 6.33 5.57 5.99 16.15 43.20 43.30 41.52 43.28 22.52 1994.97 2055.00 1980.00 2049.84 - 12.44 12.67 12.50 12.63 0.47 5.65 5.84 5.60 5.74 8.53 44.28 46.49 45.00 46.49 2.10 2.05 2.05 2.05 0.98 13.25 13.70 13.25 13.70 18.22 12.64 12.57 12.55 12.57 6.55 6.58 5.92 6.20 300.09 31.51 33.08 32.99 33.01 6.90 7.90 7.50 7.50
CONSTRUCTION AND MATERIALS Open 993.08 Turnover 6,641,902 P/E (x) 7.05
70.00 158.00 102.27 1.54 171.11 4.72 4.40 12.00 260.06 73.99 19.37
Volume
20B
% Change -0.63 5-Day High 738.27 5-Day Low 731.63
FOOD PRODUCERS
INDUSTRIAL METALS AND MINING High Low 1,000.79 954.19 Total cos Defaulter cos P/BV (x) ROE (%) 1.05 33.10
Close Chg
Close 1,170.25 Listed cap 6,768.53 mn Payout (%) 20.42
-
Dewan Salman Fibre Limited
Performance of SR Food Producers Index
Performance of SR Industrial Metals and Mining Index Open 974.09 Turnover 300,756 P/E (x) 3.18
High Low 1,190.60 1,152.99 Total cos Defaulter cos P/BV (x) ROE (%) 1.10 25.35
PE
2010 Div BR (%) (%)
Dawood HerculesSPOT 1203 Descon Chemical Descon Oxychem Ltd. Dewan Salman
Open 1,182.56 Turnover 6,520,496 P/E (x) 4.35
2009 Div BR (%) (%)
Alert ! Unusual Movements
D/B/R
Spot AGM/Date
8-Dec
14-Dec
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co Grays of Cambr XD Lakson Tobacco Shifa Int.Hospitals Eye Television PIAC(A) AKD Capital XD Pace (Pak) Ltd. Netsol Technologies Pak Telephone
Open 54.01 4.25 77.07 53.43 329.04 27.79 22.46 2.23 53.39 2.86 19.03 2.09
High 55 4.35 79.9 54.95 335.99 29 22.85 2.29 54.98 3 19.24 1.86
Low Close 54 4.22 76.5 52 320.1 26.9 21.5 2.19 51.15 2.8 18.95 1.86
54 4.24 78.97 52.01 329 28.91 21.51 2.25 51.72 2.81 19.02 1.86
Change -0.01 -0.01 1.9 -1.42 -0.04 1.12 -0.95 0.02 -1.67 -0.05 -0.01 -0.23
Vol 1296 842357 15631 984 520 727 501 13089 3351 259895 65130 1705
7
Tuesday, November 30, 2010
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,147.48 Turnover 1,610,674 P/E (x) 6.20 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard XD WorldCall Tele Wateen Telecom Ltd
High Low 1,154.59 1,131.62 Total cos Defaulter cos P/BV (x) ROE (%) 0.80 12.84
PE
Open
High
Low
Close Chg
78 4.94 37740 12.91 3000 0.66 8606 6175 -
80.90 19.53 2.23 2.61 3.56
80.10 19.60 2.30 2.70 3.69
80.10 19.26 2.20 2.57 3.56
80.10 19.37 2.21 2.60 3.58
-0.80 -0.16 -0.02 -0.01 0.02
Close 1,138.31 Listed cap 50,077.79 mn Payout (%) 62.56
Last 60 days High Low
Volume 500 353392 812537 444245 75983
Change -9.17 Market cap 78,841.47 mn Div Yield (%) 10.09
117.99 20.12 2.69 2.98 4.50
78.00 17.50 1.80 2.30 3.35
% Change -0.80 5-Day High 1,169.29 5-Day Low 1,138.31
2009 Div BR (%) (%) 70 15 -
-
2010 Div BR (%) (%) 80 17.5 1 -
Ask Gen InsuranceSPOT Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance PICIC Ins Ltd Premier Insurance United Insurance XB
204 7.45 369 5.53 279 6.65 457 6.83 1250 400 2.90 718 16.51 791 16.00 3000 41.33 350 303 5.31 400 2.03
11.72 34.95 58.00 11.37 46.78 12.04 88.14 58.70 16.24 7.45 9.85 5.76
Paid up Cap(mn)
Close 1,235.80 Listed cap 95,369.29 mn Payout (%) 104.13
Change 8.34 Market cap 100,109.64 mn Div Yield (%) 8.07
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Genertech 198 Hub Power 11572 6.71 Japan Power 1560 KESC XR 7932 Kot Addu Power 8803 4.79 Nishat Chunian Power Ltd 3673 2.94 Nishat Power Ltd 3541 23.37 Sitara Energy Ltd 191 3.45 Southern Electric 1367 Tri-star Power XD 150 -
0.85 36.33 1.54 2.18 39.60 13.76 14.43 18.66 2.18 1.00
1.10 36.70 2.15 2.32 39.73 13.80 14.65 18.50 2.27 1.17
0.85 36.05 1.55 2.20 39.35 13.35 14.25 18.50 2.14 1.00
0.98 0.13 36.63 0.30 1.70 0.16 2.27 0.09 39.41 -0.19 13.40 -0.36 14.49 0.06 18.50 -0.16 2.20 0.02 1.01 0.01
101296 819033 2354368 322477 4121737 278681 1283689 225 244506 10630
1.45 37.24 2.25 2.50 42.95 14.85 16.10 23.49 2.90 1.75
Company
0.51 32.75 1.20 1.94 38.35 9.65 9.60 17.98 2.05 0.33
% Change 0.68 5-Day High 1,235.80 5-Day Low 1,224.99
2009 Div BR (%) (%) 33.5 64.5 20 3
Open 959.71 Turnover 7,242 P/E (x) 105.76
50 - 7.8R 50 20 -
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,610.51 Turnover 151,998 P/E (x) 10.16 Paid up Cap(mn)
Company Sui North Gas XD Sui South Gas
PE
5491 8390
8.22 3.42
Open
High
27.99 22.71
28.49 23.18
High Low 1,642.00 1,588.76 Total cos Defaulter cos P/BV (x) ROE (%) 1.16 11.41 Low 27.49 22.47
Close Chg 27.63 -0.36 22.72 0.01
Close 1,602.60 Listed cap 12,202.80 mn Payout (%) 66.79
Volume 129344 22654
Change -7.90 Market cap 34,233.13 mn Div Yield (%) 6.57
Last 60 days High Low 34.75 30.70
25.55 19.25
% Change -0.49 5-Day High 1,642.08 5-Day Low 1,602.60
2009 Div BR (%) (%) -
2010 Div BR (%) (%)
-
20 15
25B
BANKS Performance of SR Banks Index Open 1,048.08 Turnover 9,055,046 P/E (x) 7.57 Paid up Cap(mn)
Company
PE
Open
Allied Bank Limited 7821 5.89 60.08 Askari Bank 6427 7.66 16.14 Atlas Bank 5001 1.52 Bank Alfalah 13492 12.21 9.61 Bank AL-Habib 7322 7.18 33.18 Bank Of Khyber 5004 5.72 4.17 Bank Of Punjab 5288 9.58 BankIslami Pak 5280 857.50 3.40 Faysal Bank XB 7309 4.57 14.40 Habib Bank Ltd 10019 6.50 104.22 Habib Metropolitan Bank 8732 7.84 24.61 JS Bank Ltd 6128 2.58 KASB Bank Ltd 9509 2.25 MCB Bank LtdSPOT 7602 9.07 204.38 Meezan Bank 6983 8.08 15.78 Mybank Ltd 5304 2.01 National Bank 13455 5.74 65.62 NIB Bank 40437 2.86 Royal Bank Ltd 17180 5.09 Samba Bank 14335 1.81 Silkbank Ltd 26716 2.65 Soneri Bank 6023 7.14 Stand Chart Bank 38716 11.69 7.56 Summit Bank Ltd 5000 2.81 United Bank Ltd 12242 6.83 58.35
High
High Low Close 1,059.44 1,041.17 1,051.80 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.06 13.94 40.49 Low
Close Chg
60.90 59.52 60.64 0.56 16.15 15.90 16.09 -0.05 1.70 1.50 1.67 0.15 9.75 9.50 9.52 -0.09 33.74 33.16 33.32 0.14 4.33 3.83 4.29 0.12 9.67 9.50 9.55 -0.03 3.48 3.30 3.43 0.03 14.80 14.01 14.16 -0.24 105.35 103.30 104.05 -0.17 25.84 24.80 25.65 1.04 2.85 2.52 2.80 0.22 2.55 2.25 2.54 0.29 205.00 203.29 204.72 0.34 15.40 15.20 15.28 -0.50 2.69 2.01 2.50 0.49 66.00 65.31 65.78 0.16 2.95 2.81 2.85 -0.01 5.99 5.13 5.43 0.34 1.90 1.76 1.86 0.05 2.78 2.64 2.76 0.11 7.16 7.10 7.12 -0.02 7.70 7.60 7.60 0.04 3.80 2.78 3.52 0.71 58.49 58.03 58.15 -0.20
Volume
Change 3.72 Market cap 639,889.08 mn Div Yield (%) 5.35
Last 60 days High Low
353046 60.90 342373 16.65 73995 2.55 398100 10.19 94194 33.97 1249 4.70 443795 10.59 9296 3.88 33073 17.10 22723 108.79 652760 25.84 78502 3.00 396853 2.98 104981 210.00 33196 16.32 2076393 2.75 669638 70.75 604117 3.25 609165 8.39 688451 2.65 1208709 3.08 16395 8.00 40947 8.00 1715362 3.80 103095 60.00
48.51 14.00 1.50 7.32 29.10 2.50 7.56 2.60 12.85 92.55 18.02 2.00 2.03 181.10 14.05 1.62 60.51 2.42 3.91 1.51 2.50 5.01 6.00 2.30 49.90
2009 Div BR (%) (%) 40 8 20 60 10 110 75 25
% Change 0.35 5-Day High 1,063.59 5-Day Low 1,048.08
20 - 20B - 66R 55 -63.46R 10 -
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 749.58 Turnover 624,390 P/E (x) 12.20 Paid up Cap(mn)
Company Adamjee Insurance
High Low 759.40 737.34 Total cos Defaulter cos P/BV (x) ROE (%) 0.63 5.20
Close 746.80 Listed cap 11,111.34 mn Payout (%) 79.54
Change -2.78 Market cap 46,513.63 mn Div Yield (%) 6.52
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 23.05
80.56
80.79
79.25
79.51 -1.05
275343
84.45
63.05
2009 Div BR (%) (%) 30
% Change -0.37 5-Day High 749.58 5-Day Low 746.80 2010 Div BR (%) (%)
10B
10
-
600 1714 11699 750 99913 2668 7925 1544 200435 15367 6205 227
12.60 35.50 62.69 12.00 48.63 12.65 92.00 60.50 17.20 8.30 10.30 7.18
8.45 27.10 47.37 9.42 34.76 10.04 66.41 52.21 12.50 1.66 8.00 4.02
High Low 953.79 944.26 Total cos Defaulter cos P/BV (x) ROE (%) 4.07 3.85
Close 948.67 Listed cap 2,290.72 mn Payout (%) 355.53
40 20 40 35 35 30 30 20 -
10B 25B 8.7B 20B 15B 16B
Change -11.04 Market cap 10,957.72 mn Div Yield (%) 3.36
PE
East West Life
455
-
2.85
2.80
2.75
2.75 -0.10
800
3.00
2.05
EFU Life Assurance
850 47.02
82.46
83.95
81.71
82.76 0.30
6435
86.00
51.25
Open
10 10 -
UPTO 100 VOLUME
25R 10B 20B -
Symbols IDYM MFTM BGL CRTM PNSC SHCI SHEZ AASM FECTC STCL PGCL ULEVER QUET CPMFI FRCL JKSM LIBM MBF ILTM NATM ICCT GATI WYETH DCM ALICO GRYL FNEL AGSML HUSI TSMF CFL DWAE NOPK DIIL SLCL KML MTIL NSRM SHJS GTYR DYNO ATFF ALQT AZAMT BILF GUTM IDSM SMTMR ZTL BHAT BTL FASM MSOT BAFS SGMLPS TICL SMCPL KOHE PECO BWHL MDTL BAPL WAHN UPFL RMPL SCL PHDL
High
Low
Close Chg
Last 60 days High Low
Volume
% Change -1.15 5-Day High 961.55 5-Day Low 907.25
2009 Div BR (%) (%) -
2010 Div BR (%) (%)
10R
-
20R
5513.33B
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 437.97 Turnover 3,743,394 P/E (x) 10.26
High Low 443.05 429.92 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 0.91
Close 433.67 Listed cap 30,336.44 mn Payout (%) 99.56
Change -4.30 Market cap 30,136.08 mn Div Yield (%) 3.09
PE
AMZ Ventures
225
1.25
0.56
0.67
0.50
0.55 -0.01
207103
1.10
0.42
-
-
-
Arif Habib Investments
360
3.56
18.39
18.60
17.99
18.08 -0.31
24001
19.98
13.00
-
-
-
20B
Arif Habib Limited
450 13.58
26.84
27.00
26.51
26.61 -0.23
30831
34.00
24.40
15
25B
-
20B
26.29 2.15 3.25
26.44 2.32 3.00
25.62 2.00 3.00
25.80 -0.49 2.03 -0.12 3.00 -0.25
4146418 14732 500
27.02 2.70 4.50
20.90 1.51 2.00
-
-
30 -
-
Arif Habib Corp Dawood Equities
3750 250
4.74 -
First Credit & Invest Bank Ltd 650 12.50
IGI Investment Bank
Open
High
Low
Close Chg
Last 60 days High Low
% Change -0.98 5-Day High 454.11 5-Day Low 433.67
Paid up Cap(mn)
Company
Volume
2009 Div BR (%) (%) -
2010 Div BR (%) (%)
2121 16.25
2.60
2.80
2.60
2.60 0.00
10331
2.88
1.17
-
-
-
-
600 661.00
7.30
6.90
6.50
6.61 -0.69
2527
9.00
6.16
-
-
11.5
-
0.69 3.49
0.70 3.69
0.57 3.53
0.60 -0.09 3.59 0.10
7242 2945
1.00 4.80
0.44 2.54
-
10B
-
10B
0.69
1.86
1.96
1.82
1.94 0.08
3009
2.84
1.17
-
-
-
-
7633
-
12.93
13.06
12.64
12.75 -0.18
2896640
14.05
8.80
-243.778B 10
-
508
-
4.16
4.37
4.05
4.11 -0.05
219980
5.38
1.96
-
-
-
-
JS Global Cap JS Investment
500 8.06 1000 29.29
29.95 7.10
30.02 7.33
29.98 6.91
30.00 0.05 7.03 -0.07
1877 162736
40.00 7.59
24.25 5.10
150 -
-
-
-
KASB Securities
-
Invest and Fin Sec Invest Bank Ist Cap Securities
2849 3166
-
Ist Dawood Bank
626
Jah Siddiq Co JOV and CO
1000
-
4.36
4.50
4.25
4.40 0.04
11503
4.70
3.20
-
-
-
Orix Leasing Pervez Ahmed Sec
821 775
4.82 -
7.10 2.29
7.29 2.30
6.54 2.15
6.55 -0.55 2.25 -0.04
616 101903
7.29 2.70
3.66 1.35
-231.08R
-
-
Saudi Pak Leasing
452
-
0.56
0.60
0.53
0.56 0.00
45396
0.86
0.42
-
-
-
-
Open
Paid up Cap(mn)
Company
1st Fid Leasing AL-Meezan Mutual F. AL-Noor Modaraba B R R Guardian Mod. Constellation Mod. Crescent St Mod. XD Elite Cap Mod. XD Equity Modaraba First Dawood Mutual F. Golden Arrow Habib Modaraba JS Growth Fund JS Value Fund Mod Al-Mali Nat Bank Modaraba Pak Modaraba XD Pak Prem Fund Paramount Modaraba PICIC Energy Fund XD PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba XD Stand Chart Modaraba U D L Modaraba XD
PE
264 1375 210 780 65 200 113 524 581 760 1008 3180 1186 184 250 125 1698 59 1000 2835 2841 872 340 454 264
9.19 5.58 4.90 4.36 3.36 1.45 3.24 10.13 0.66 2.08 5.61 53.13 14.93 11.10 5.56 4.90 12.03 6.64 1.65 6.25 5.45 2.09 4.36 1.63
Open 1.50 6.73 2.51 1.81 1.98 0.55 2.45 1.72 1.93 2.85 6.50 4.29 4.62 1.02 6.75 1.00 8.71 8.00 5.55 9.58 4.66 0.95 1.59 8.99 5.75
High
High Low 1,168.97 1,132.74 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 2.21 Low
1.65 6.89 3.00 2.00 1.96 0.59 2.59 1.85 2.08 2.94 6.70 4.46 4.67 1.16 6.00 0.98 8.80 8.50 5.69 9.80 4.90 0.97 1.50 8.90 5.75
Close Chg
1.35 6.50 2.60 1.79 1.38 0.51 2.31 1.61 2.00 2.89 6.51 4.15 4.10 1.10 5.90 0.98 8.63 8.25 5.42 9.55 4.70 0.87 1.50 8.90 5.50
1.47 6.70 2.94 1.92 1.48 0.58 2.59 1.62 2.08 2.91 6.51 4.25 4.18 1.11 6.00 0.98 8.66 8.50 5.69 9.75 4.80 0.92 1.50 8.90 5.73
-0.03 -0.03 0.43 0.11 -0.50 0.03 0.14 -0.10 0.15 0.06 0.01 -0.04 -0.44 0.09 -0.75 -0.02 -0.05 0.50 0.14 0.17 0.14 -0.03 -0.09 -0.09 -0.02
Close 1,148.51 Listed cap 29,771.58 mn Payout (%) 104.74
Change 0.68 Market cap 16,570.76 mn Div Yield (%) 8.99
Last 60 days High Low
Volume 572 29508 25500 108152 4247 60804 12114 110 1002 39123 14000 285540 514962 636 3500 500 174595 6501 66392 727069 48523 3733 17744 1151 3136
2.24 7.20 3.80 2.37 2.99 1.10 3.09 2.37 2.10 3.88 7.25 4.50 4.73 2.18 8.00 1.40 9.39 9.45 5.95 9.80 4.93 1.20 2.54 10.99 6.99
1.01 5.85 2.10 0.90 0.90 0.16 1.65 0.76 1.30 2.32 5.56 2.65 2.31 0.56 4.50 0.30 7.00 7.00 4.20 7.60 3.50 0.76 0.57 7.75 4.71
273.98 1.10 1.74 19.99 35.89 2.45 95.28 26.50 7.96 9.29 20.90 4268.84 47.00 4.20 2.50 5.95 58.00 5.97 119.00 8.05 1.00 44.38 870.00 1.75 17.01 1.75 9.00 7.00 10.90 1.44 12.30 0.72 26.00 11.78 2.64 2.49 0.50 12.17 90.50 22.00 10.99 4.39 7.28 2.39 1.85 24.74 3.02 0.09 4.00 245.00 46.99 34.70 19.95 67.10 4.50 81.02 5.95 19.40 279.99 34.89 47.66 9.95 33.40 1050.00 1914.99 83.00 39.00
Low
Close
269.00 1.10 1.74 19.99 34.45 2.45 95.25 25.01 7.21 8.30 19.60 4045.01 43.70 4.05 1.76 4.55 58.00 5.97 119.00 8.05 0.99 44.00 870.00 1.26 17.01 0.18 8.10 5.71 10.59 1.30 10.30 0.72 24.71 11.74 2.64 2.10 0.50 12.17 85.00 22.00 10.25 4.25 7.28 2.30 1.85 24.74 3.02 0.05 3.95 244.00 46.99 34.70 19.94 65.00 4.50 81.02 5.95 19.25 279.99 34.89 47.66 9.33 33.40 1050.00 1909.00 83.00 39.00
272.93 1.10 1.74 19.99 35.75 2.45 95.26 25.01 7.90 9.10 20.90 4131.12 45.30 4.20 1.77 5.02 58.00 5.97 119.00 8.05 0.99 44.00 870.00 1.65 17.01 0.83 8.85 5.71 10.59 1.42 10.30 0.72 26.00 11.75 2.64 2.30 0.50 12.17 87.75 22.00 10.99 4.25 7.28 2.30 1.85 24.74 3.02 0.05 3.95 244.00 46.99 34.70 19.94 65.00 4.50 81.02 5.95 19.25 279.99 34.89 47.66 9.33 33.40 1050.00 1909.00 83.00 39.00
Change
Vol
3.93 0.29 0.21 0.21 0.81 0.00 -4.99 -0.24 -0.04 0.00 0.27 -1.88 -0.70 0.00 -0.42 -0.05 1.51 -0.02 4.16 -1.00 -0.49 0.02 0.00 -0.10 -0.98 -0.27 -0.04 -0.89 0.69 0.56 -1.00 0.02 0.00 0.95 0.54 -0.20 0.05 -1.00 -0.14 0.00 0.20 0.71 1.00 0.05 0.50 0.74 -0.48 -0.03 0.06 4.01 0.00 0.30 0.92 1.00 1.00 3.85 0.01 0.25 4.99 -1.83 -2.50 0.38 -0.39 14.50 58.40 -3.98 -1.00
100 100 100 99 81 75 68 51 51 50 44 41 40 37 23 15 15 11 11 10 10 9 9 8 7 6 6 6 4 3 3 3 3 3 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
FUTURE CONTRACTS
Performance of SR Equity Investment Instruments Index Open 1,147.82 Turnover 2,149,166 P/E (x) 18.11
High
269.00 0.81 1.53 19.78 34.94 2.45 100.25 25.25 7.94 9.10 20.63 4133.00 46.00 4.20 2.19 5.07 56.49 5.99 114.84 9.05 1.48 43.98 870.00 1.75 17.99 1.10 8.89 6.60 9.90 0.86 11.30 0.70 26.00 10.80 2.10 2.50 0.45 13.17 87.89 22.00 10.79 3.54 6.28 2.25 1.35 24.00 3.50 0.08 3.89 239.99 46.99 34.40 19.02 64.00 3.50 77.17 5.94 19.00 275.00 36.72 50.16 8.95 33.79 1035.50 1850.60 86.98 40.00
EQUITY INVESTMENT INSTRUMENTS
2010 Div BR (%) (%)
10B 20B 20B 10B 16B 26B 10B 5B 25B 10B
0.57 -0.15 0.50 -0.44 0.05 0.16 0.84 0.65 -0.12 -0.14 -0.03 0.44
Paid up Cap(mn)
Company
2010 Div BR (%) (%)
31R -
12.29 34.80 58.50 10.93 46.83 12.20 88.98 59.35 16.12 7.31 9.82 6.20
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,243.54 1,219.38 Total cos Defaulter cos P/BV (x) ROE (%) 1.21 9.35
11.98 34.60 57.80 10.82 46.31 12.00 86.05 56.12 16.00 6.95 9.80 5.20
LIFE INSURANCE
-
ELECTRICITY Open 1,227.47 Turnover 9,536,643 P/E (x) 12.91
12.60 34.80 59.00 11.64 47.90 12.20 92.00 60.00 16.35 7.44 10.00 6.20
% Change 0.06 5-Day High 1,148.51 5-Day Low 1,112.10
2009 Div BR (%) (%)
2010 Div BR (%) (%)
4.5 20 10 15 16.5 10
18.5 5 0 1.2 5 17 21 5 10 10 3 18.6 18 10 20 10 3 1 17 12.5
-
-
Symbols
Open
NML-DEC
58.00
58.59
57.25
58.20
POL-DEC
268.07
270.50
High
266.25
Low
269.41
Close
Change
Vol
PSO-DEC
285.83
286.99
284.00
285.70
NBP-DEC
66.30
66.51
65.81
66.38
DGKC-DEC
28.36
28.25
27.90
28.02
-0.34
96500
LUCK-DEC
74.91
75.35
73.88
74.96
0.05
90500
ANL-DEC
11.28
11.22
11.03
11.09
-0.19
ENGRO-DEC 182.43
0.20 1862000 1.34
316500
-0.13
288500
0.08
96500
74000
182.45
180.50
181.66
-0.77
59000
AICL-DEC
81.06
81.10
79.90
80.43
-0.63
48500
MCB-DEC
203.04
203.40
202.00
203.04
0.00
36500
PPL-DEC
202.66
202.70
OGDC-DEC 161.57
201.00
202.38
-0.28
35000
162.00
160.75
162.00
0.43
26000
PTC-DEC
19.84
19.50
19.50
19.50
-0.34
25000
FFBL-DEC
33.09
33.40
33.20
33.20
0.11
10500
UBL-DEC
59.00
59.40
58.51
58.96
-0.04
8000
NCL-DEC
24.43
24.00
23.21
23.21
-1.22
5000
NETSOL-DEC 19.51
19.51
19.51
19.51
0.00
3000
272.81
272.81
277.89
5.08
0.00
POL-CFEB
272.81
ZERO VOLUME Symbols
Open
High
Low
Close
AGL
22.19
21.99
21.99
21.99
-0.20
ANSS
5.07
5.25
5.25
5.25
Change 0.18
Vol 0.00
BAPLR
0.89
0.49
0.49
0.49
-0.40
0.00
BFMOD
3.95
3.84
3.84
3.84
-0.11
0.00
0.00
CPAL
2.49
2.47
2.47
2.47
-0.02
0.00
ELCM
5.00
4.00
4.00
4.00
-1.00
0.00
ESBL
2.90
2.70
2.70
2.70
-0.20
0.00
FZTM
430.00
429.00
429.00
429.00
-1.00
0.00
INKL
9.50
9.00
9.00
9.00
-0.50
0.00
JVDC
59.97
59.90
59.90
59.90
-0.07
0.00
KASBM
1.26
1.35
1.35
1.35
0.09
KOHS
3.46
3.77
3.77
3.77
0.31
0.00
KOHTM
1.40
1.39
1.39
1.39
-0.01
0.00
NBF
3.25
3.00
3.00
3.00
-0.25
0.00
NJLIC
47.85
47.00
47.00
47.00
-0.85
0.00
PAKL
1.60
1.76
1.76
1.76
0.16
0.00
POAF
8.80
8.78
8.78
8.78
-0.02
0.00
0.00
BOARD MEETINGS
Kot Addu Power Co Ltd
KSE 100 INDEX
Company
Date
Time
Mirpurkhas Sugar Mills Limited
30-Nov
11:00
Fauji Fertiliser Bin Qasim Ltd
Nishat Mills Ltd
TECHNICAL LEVELS Company Al-Abbas Cement
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
72.37
Support 1
11,130.90
MA (5-day)
11,153.94
Support 2
11,098.35
MA (10-day)
11,063.05
Resistance 1
11,186.05
MA (100-day)
10,235.52
Resistance 2
11,208.60
*Arif Habib Ltd AKD Securities Ltd TFD Research
10,108.97
Pivot
resistance level at and 2nd resistance level at , while Index will continue to
Brokerage House
52
Buy
*Arif Habib Ltd
48.7
Buy
AKD Securities Ltd
Positive
Technical Analysis
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Rs Recommendations
Brokerage House
65
Buy
*Arif Habib Ltd
59.97
Buy
AKD Securities Ltd
Positive
TFD Research
74.2
176.05 6,938.16 N/A 39.52
* 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)
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
35
Rs Recommendations Buy
32.06
Accumulate Negative
Technical Outlook
Leverage Position
66.83 56.06 48.82 50.82
Fair Value
29.1
Technical Outlook
Leverage Position
42.65 39.60 41.17 42.52
Fair Value
TFD Research
Technical Outlook
11,153.50
mal. As far as resistance level is concern, the market will see major 1st
Rs Recommendations
46.05
RSI (14-day) MA (10-day) KSE 100 INDEX closed up 18.41 points at 11,163.43. Volume was 38 per MA (100-day) cent below average and Bollinger Bands were 13 per cent wider than nor- MA (200-day) MA (200-day)
Fair Value
175.80 10,148.93 223.68 57.55
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis
Leverage Position
forecasting oscillators are currently bearish on KAPCO.
Hub Power Co Ltd
Pakistan Oilfields Ltd
Brokerage House
Fair Value
Rs Recommendations
301
Buy
*Arif Habib Ltd AKD Securities Ltd TFD Research
296.6 281.35
Brokerage House
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
65.20 261.32 235.09 233.29
47
Buy
AKD Securities Ltd
Neutral
TFD Research
44 44.9
Rs Recommendations Buy
Brokerage House
107.94 28,805.07 229.80 266.24
* 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)
70.48 35.70 34.57 34.08
Fair Value
*Arif Habib Ltd
42
Rs Recommendations
(consolidating) and Bollinger Bands were 65 per cent wider than normal.
tors are currently bullish on POL.
currently indicating that HUBC is currently in an overbought condition.
oscillators are currently bullish on DGKC.
57.99
78.90
78.30
80.45
81.40
79.85
Askari Bank
58.66
15.95
15.80
16.20
16.30
16.05
Azgard Nine
49.91
10.85
10.75
11.15
11.30
11.00
Attock Petroleum
53.16
316.50
314.55
319.70 320.95 317.75
Attock Refinery
76.13
126.85
125.40
129.85 131.35 128.40
Bank Alfalah
50.96
9.45
9.35
9.70
9.85
9.60
BankIslami Pak
57.61
3.30
3.20
3.50
3.60
3.40
Bank Of Punjab
54.58
9.45
9.40
9.65
9.75
9.55
Dewan Cement
70.28
1.75
1.50
2.10
2.30
1.90
DGK Cement
50.16
27.60
27.45
28.05
28.30
27.85
Dewan Salman
74.50
1.75
1.35
2.35
2.60
Dost Steels Ltd
2.00 2.90
85.05
82.80
Engro Chemical
55.50
180.80
179.80
Faysal Bank
40.22
13.85
13.55
14.65
15.10
Fauji Cement
50.91
4.95
4.90
5.05
5.10
5.00
Fauji Fert Bin
71.71
33.70
33.45
34.30
34.65
34.05
Fauji Fertilizer
58.83
110.75
110.50
111.55 112.10 111.30
Habib Bank Ltd
53.63
103.10
102.20
105.15 106.30 104.25
Hub Power
70.48
36.20
35.80
ICI Pakistan
64.94
134.80
133.90
136.30 136.90 135.40
Indus Motors
62.62
254.40
248.70
266.40 272.70 260.70
JOV and CO
56.17
4.00
3.85
4.30
4.50
Japan Power
59.99
1.45
1.20
2.05
2.40
JS Bank Ltd
54.14
2.60
2.40
2.90
3.05
2.70
Jah Siddiq Co
44.21
12.60
12.40
13.00
13.25
12.80
Kot Addu Power
42.65
39.25
39.10
39.65
39.90
39.50
KESC
58.07
2.20
2.15
2.30
2.40
2.25
Lotte Pakistan
70.28
11.75
11.65
11.95
12.05
11.85
Lucky Cement
52.48
73.40
72.40
75.05
75.65
74.05
MCB Bank Ltd
54.88
203.70
202.65
Maple Leaf Cement
52.05
2.90
2.85
3.00
3.05
2.95
National Bank
49.64
65.40
65.00
66.10
66.40
65.70
Nishat (Chunian)
54.19
22.45
22.05
23.65
24.45
23.25
Netsol Technologies
50.62
18.90
18.80
19.20
19.35
19.05
NIB Bank
52.44
2.80
2.75
2.95
3.00
2.85
Nimir Ind.Chemical
54.56
1.50
1.45
1.60
1.65
1.55
Buy
Nishat Mills
66.83
56.95
56.20
58.35
59.00
57.60
61.96
Neutral
Oil & Gas Dev. XD
70.65
162.45
161.10
92.3
Positive
PACE (Pakistan) Ltd.
44.83
2.75
2.65
2.95
3.05
2.85
Pervez Ahmed Sec
54.39
2.15
2.10
2.30
2.40
2.25
PIAC(A)
49.70
2.20
2.15
2.30
2.35
2.25
Pioneer Cement
33.61
6.70
6.60
7.00
7.25
6.90
Pak Oilfields
65.20
264.30
261.70
269.15 271.40 266.55
Pak Petroleum
65.23
200.20
198.90
202.85 204.20 201.55
Pak Suzuki
48.54
73.40
72.80
PSO XD
56.47
281.80
280.85
PTCLA
52.50
19.20
19.05
Shell Pakistan
59.49
197.75
195.50
Sui North Gas
28.16
27.25
26.85
28.25
28.85
27.85
Sitara Peroxide
59.32
13.30
13.15
13.55
13.70
13.45
Sui South Gas
40.43
22.40
22.10
23.10
23.50
22.80
playing an upward trend. Volatility is low as compared to the average
Telecard
41.90
2.20
2.15
2.30
2.35
volatility over the last 10 trading sessions. Volume indicators reflect volume
TRG Pakistan
53.05
4.20
4.15
4.30
4.40
4.25
flowing into and out of NBP at a relatively equal pace. Trend forecasting
United Bank Ltd
59.37
57.95
57.75
58.40
58.70
58.20
oscillators are currently bullish on NBP.
WorldCall Tele
49.70
2.55
2.50
2.65
2.75
2.60
* Target price for Dec-10 & **Net Open Interest in future market
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 FFBL (mildly bullish). Trend forecasting oscillators are currently bullish on FFBL. Momentum oscillator is cur-
National Bank of Pakistan
Brokerage House
Fair Value 84
Rs Recommendations
Technical Outlook
(consolidating) and Bollinger Bands were 9 per cent narrower than normal. HUBC is currently 7.5 per cent above its 200-day moving average and is DGKC is currently 3.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is high as compared to the average the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume volatility over the last 10 trading sessions. Volume indicators reflect modreflect moderate flows of volume into HUBC (mildly bullish). Trend foreerate flows of volume into POL (mildly bullish). Trend forecasting oscilla- casting oscillators are currently bullish on HUBC. Momentum oscillator is flowing into and out of DGKC at a relatively equal pace. Trend forecasting
POL is currently 14.4 per cent above its 200-day moving average and is
26.70
Adamjee Insurance
83.90
326.94 11,112.64 31.15 34.02
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
49.64 66.17 65.96 70.30
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.37 20,942.18 86.10 65.68
* Target price for Dec-10 & **Net Open Interest in future market
POL closed up 1.62 at 266.87. Volume was 9 per cent above average and HUBC closed up 0.30 at 36.63. Volume was 58 per cent below average DGKC closed down -0.27 at 27.81. Volume was 79 per cent below average NBP closed up 0.16 at 65.78. Volume was 74 per cent below average (conBollinger Bands were 60 per cent wider than normal.
27.20
80.55
Technical Outlook
* Target price for Dec-10 & **Net Open Interest in future market
26.90
81.65
TFD Research
* Target price for Dec-10 & **Net Open Interest in future market
26.20
65.28
AKD Securities Ltd
182.55 5,076.71 29.29 27.92
26.40
EFU Life Assurance
Buy
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
48.87
47.00
Positive
50.16 28.56 26.22 26.84
25.95
Arif Habib Limited
3.00
43.29
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
63.50
26.75
48.60
36.85
810.01 29,670.60 N/A 36.43
60.35
65.65
26.30
2.95
TFD Research
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
61.75
64.25
25.15
47.70
AKD Securities Ltd
Leverage Position
61.20
61.35
25.45
2.80
Positive
Technical Analysis
58.95
62.15
58.64
45.40
Buy
Leverage Position
59.80
50.37
Arif Habib Corp
2.85
*Arif Habib Ltd
Buy
80.37
Attock Cement
46.10
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
rently indicating that FFBL is currently in an overbought condition.
Dera Ghazi Khan Cement Co Ltd
Technical Outlook
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
Fair Value
*Arif Habib Ltd
Technical Outlook Technical Analysis
ing oscillators are currently bullish on NML.
Allied Bank Limited
55.85
71.71 33.72 29.31 29.63
KAPCO closed down -0.19 at 39.41. Volume was 1,139 per cent above aver- NML closed up 0.26 at 57.73. Volume was 13 per cent above average and FFBL closed up 0.09 at 33.99. Volume was 22 per cent above average and Bollinger Bands were 46 per cent wider than normal. KSE 100 INDEX is currently 10.5 per cent above its 200-day moving aver- age (trending) and Bollinger Bands were 62 per cent narrower than normal. Bollinger Bands were 17 per cent wider than normal. age and is displaying an upward trend. Volatility is relatively normal as KAPCO is currently 7.3 per cent below its 200-day moving average and is NML is currently 13.6 per cent above its 200-day moving average and is FFBL is currently 15.6 per cent above its 200-day moving average and is
overbought condition.
1st 2nd Pivot Resistance 3.25 3.35 3.20
EFU General Insurance 63.30
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
find its 1st support level at and 2nd support level at .
compared to the average volatility over the last 10 trading sessions. displaying a downward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is relatively normal as compared to Volume indicators reflect moderate flows of volume into INDEX (mildly bullthe average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators ish). Trend forecasting oscillators are currently bullish on INDEX. Momentum oscillator is currently indicating that INDEX is currently in an reflect moderate flows of volume out of KAPCO (mildly bearish). Trend reflect moderate flows of volume into NML (mildly bullish). Trend forecast-
RSI 1st 2nd (14-day) Support 50.22 3.15 3.05
solidating) and Bollinger Bands were 36 per cent narrower than normal. NBP is currently 1.9 per cent below its 200-day moving average and is dis-
182.90 184.00 181.90
36.85
37.10
14.30
36.45
4.20 1.80
205.40 206.05 204.35
164.65 165.50 163.30
74.30
74.60
73.70
283.90 285.05 282.95 19.55
19.75
19.40
202.60 205.25 200.35
2.25
8
Tuesday, November 30, 2010
PTCL now sweetens int’l calls talk-time
TOKYO: Konan (L) and Kana Ito, members of Japanese pop group 'SDN48', hold the new smartphone 'IS03' by Japan's number two telecom operator KDDI Corp during its launch here. -Reuters
Tata dares Delhi to probe telecom scam MUMBAI: The Indian government should take a stand in the telecom spectrum scam, Ratan Tata, one of India's most influential businessmen, told a television channel, referring to the scandal that has paralysed the Indian parliament. "I wish the government would take a stand, bring order...have an investigation, book people who are guilty of something," Tata, who leads salt to software conglomerate Tata Group and counts telecom operator Tata Teleservices as one its units, said in excerpts of an interview to be aired on Saturday on Indian broadcaster NDTV. A government agency has sent notices to nine telecoms firms including Tata Teleservices, India's fourthbiggest mobile operator, over investigations related to an alleged multi-billion
dollar telecoms licence scam, media reports said. The scam, which revolves around the sale of telecom licenses at low prices, has led to the resignation of India's telecoms minister, and, according to an official watchdog audit, has possibly lost the state $39 billion in revenue. "There has been a smokescreen behind what is really the so-called scam, which really is out-of-turn allocation of spectrum, hoarding of spectrum by important players for free, and things of this nature," Tata said. In its report, the Comptroller and Auditor General of India said rules were flouted when the licences were given in 2007 and 2008, and led to many ineligible firms receiving them. Last week, the Supreme Court criticised Indian Prime Minister Manmohan
Singh for his apparent delay in probing the widening scandal, potentially one of the biggest to hit India. The government has resisted additional probes, saying a CBI investigation is under way. Critics say the government fears it will be dragged into a long-running investigation ahead of state elections. The scandal has now engulfed parliament as opposition parties have kept it shut since November 9 over demands for a full parliamentary investigation into the disputes over sale of telecoms licences and radio airwaves worth billions of dollars. The shutdown weakened the government's ability to move key economic measures and delayed legislation in areas such as banking and mining, although the government is not at risk of collapsing.-Reuters
FAST students win award for cell app ISLAMABAD: The Pakistan Telecommunications Authority (PTA) and Ericsson here on Monday announced winners of Ericsson-PTA Mobile Excellence Award 2010 for the developers Of SMS short message service) Spam Interceptor Application. President Ericsson Pakistan, Mohsen Tavakol said, "We are proud to award Rs100,000 to the winners for their innovation, which aims to intercept SMS at the access layer by using an underlying byte-level data coding scheme." He said the winners would also be given an opportunity to qualified practice
through internship at Ericsson for six months after graduation. "We work hard to build longterm relationships with universities and student organisations around the world and attracting young talent, who eventually contribute to our future success," he added. Chairman PTA Dr Mohammed Yaseen said, "PTA believes in harmonised efforts for the uplift of ICT industry of Pakistan as we look forward to carrying out significant projects in partnership with the operators and solution providers." He appreciated Ericson's ini-
tiatives for the support of telecom industry of Pakistan. Muhammad Bilal Junaid and Talha Shabib Ahmed, final year students of BS (Telecom) at FAST National University of Computer and Emerging Sciences were declared winners of the award, while runner-up award was given to a two-member team comprising Basit Hameed and Imran Tanveer from NUST School of Electrical Engineering & Computer Science. The ceremony was also attended by Minister of Trade of Sweden Ewa Bjorling and a high level Swedish business delegation.-Online
France Telecom eyes Iraq PARIS: France Telecom said it was looking at investments in Iraq, following reports the operator was in talks to take a minority stake in Korek Telecom. The Financial Times reported France Telecom was talking to Korek Telecom, Iraq's thirdlargest mobile phone operator, as part of a strategy to expand in the Middle East. "Iraq is an area of strategic interest for France Telecom and we are studying opportunities that could exist there," a France Telecom spokesman said, without commenting on Korek. The newspaper cited people familiar with the situation saying the deal could give Korek an enterprise value of $1.5 billion and France Telecom could eventually acquire a controlling stake in the company. Korek, based in Iraq's Kurdish-run north, competes with Zain and AsiaCell, which is partly owned by Qatar Telecommunications. The mobile phone market has boomed since the US-led invasion of 2003 that toppled Saddam Hussein, with the total customer base of the main providers tripling to around 10 million consumers in the past two years. France Telecom, Europe's third-largest telecoms operator, began looking for emerging-market opportunities as a way to offset sluggish demand and intense competition in Europe. It plans to double revenue in emerging markets by 2015, largely through acquisitions. In September it bought a 40 per cent stake in Moroccan telecoms company Meditel, putting it in competition with Vivendi, the majority owner of Morocco's former telecoms monopoly, Maroc Telecom. France Telecom is looking to acquire a 3G license in Syria, the spokesman said.-Reuters
KARACHI: Group Photo of PTCL Meeting in KATI, Chairman KATI Syed Johar Ali Qandhari, Vice Chairman KATI Shahid Jawed Qureshi & Saleem-uz-Zaman, M Mushir Khan RGM-I, Ehsanallah Malik RGM-II, Jamal Abdul Nasir RGM-III, Rizwan Ahmed Bhutto GM Cs & CC, Jawed Ahmed Shaikh Director, Kanwar Mohin Ali Khan Director, Khalil Ahmed Dharpali BM, Syed Wajid Hussain, Naiz Ahmed, Kashif Ali Khan.
ISLAMABAD: Pakistan Telecommunication Company Ltd (PTCL) for the facilitation of its valued customers has introduced new cost-effective calling rates for several international eastern and western destinations with unmatched voice quality. The newly announced calling rates have been categorised into European and Far East bucket. By subscribing to the Western Express Package European Bucket) customers can avail 250 minutes per month for calling fixed line in Spain, France, Belgium, Germany, Greece, Italy, Netherlands and Norway, said a press release issued here. By subscribing to the Eastern Connection Package (Far East bucket) customers can avail 250 minutes per month for calling fixed line in South Korea and Malaysia and both fixed line and mobile in Hong Kong. Subscription charges for each
package are Rs300 per month. SEVP Commercial Naveed Saeed said these new calling packages have been introduced to encourage the landline usage among customers and to keep them connected to their loved ones on affordable rates as customer's convenience has always been PTCL's top priority. Aasif Inam EVP Consumer Services said even in an era dominated by cellular mode of communication, importance of landline cannot be denied. It is still a main source of communication for most of the people around the world. And by introducing these new calling packages PTCL intends to address this particular need of our valued customers in the most effective and affordable way possible. "In future as well, we will continue to introduce more such packages to give our customers best value for their money", he maintained.-APP
UAE’s Axiom, RIM cut a deal DUBAI: Dubai-based Axiom Telecom, which this week launched the UAE's first initial public offering for two years, has signed a direct supply agreement with BlackBerry manufacturer Research in Motion. The non-exclusive deal, which is listed in Axiom IPO prospectus seen by Reuters, is for one year from Nov. 19, but can be renewed. This agreement will enable Axiom to obtain BlackBerry handsets and accessories directly from the manufacturer, rather than through an intermediary. The deal covers the UAE, Saudi Arabia, Kuwait, Lebanon, Qatar, Oman, Jordan and Bahrain. "We believe that this master supply agreement will have a positive impact on our results of operations and, in particular, on our gross profit and gross margin, as we will be able to source BlackBerry smartphones directly (which have generally been a high gross margin product for us) at a lower cost than through a distributor," Axiom wrote in its prospectus. Terms of the deal were not
disclosed, but Axiom said in the prospectus that its BlackBerry distribution supplier had learned of the deal and cut supplies from August, which will likely impact revenue in the second half of 2010. Axiom says it will use $100 million of proceeds from its IPO and a $55 million property sale to pay down part of $354 million in existing credit lines. Axiom said it expects to list on the Nasdaq Dubai in early December after selling up to 35 per cent of its shares to institutional investors, with a price range of $0.80 to $1.15. Up to 332.35 million shares will be sold, with 93 million in the form of new shares, while the remainder will come from the selling shareholders. Al Bannai Investment currently holds a 53 per cent stake in Axiom, according to the IPO prospectus, with 40 per cent held by a subsidiary of TECOM, which itself is part of Dubai Holding. A further 7 per cent of Axiom is owned by Al Zarooni Enterprises.-Reuters
Warid comes up with ‘Bol Anmol’ Staff Reporter KARACHI: Warid Telecom has brought another amazing offer for its prepaid customers 'Warid Bol Anmol'. It is a reward programme that allows Warid users to get instant bonus every time they perform any activity on the network, be it calls, SMS, MMS, etc. Customers will be rewarded with 'Bonus Rozana' on the basis of their daily main account usage. Not only this, but the offer includes "Bonus Mahana" as well, which is based on a minimum of 5-day usage and a maximum of 30-
days usage. Every time the customer is rewarded, they will immediately receive a flash message indicating the bonus they have been rewarded with. Unlike special offers from other operators that charge a subscription fee, this offer doesn't require any subscription and there are no charges, conditions or activations involved. Warid Telecom has always exhibited strong commitment to its valuable customers by consistently offering them innovative products and services while serving their needs with utmost care.
95 sacked PTCL workers restored PESHAWAR: The Peshawar High Court (PHC) here reinstated 95 employees of Pakistan Telecommunication Limited (PTCL). A two-member bench of PHC comprising Chief Justice Ejaz Afzal Khan and Justice Mazhar Alam Miankhel allowed the writ petition of PTCL employees and reinstated them on their old positions in the company. Fayaz Afzal and other 94 terminated employees, working on different positions including wireman, cable guards, drivers and computer operators, had filed a writ petition in the high court through Ejaz Sabi advocate, in which they prayed the court for restoration of their services as they had claimed for their unlawful termination from their jobs. Counsel for the petitioners, contended that their clients as contract employees have been working in the company since 1999. In 2006, he said, PTCL and Telecom Foundation had signed an agreement, under which all these employees were given to Telecom Foundation. He said the Telecom Foundation then terminated all the employees in 2006. The petitioners' lawyer told the court that Telecom Foundation had no authority to terminate them from their jobs as they were the employees of PTCL. He argued that the Telecom Foundation termination order was unlawful and thus be set aside. After hearing of the case, the bench declared the employees termination order as void and directed the PTCL to appoint the employees on their old positions in the company.-APP
Indigoers get to tee off at a lush Lhr golf course LAHORE: Mobilink organised the 4th indigo Invitational Golf Tournament-2010 at the Royal Palm Golf & Country Club, Lahore. For the past three years, this 18-hole tournament has consistently attracted golfing enthusiasts from within the Mobilink-indigo customers. Deriving excitement and fun through friendly competition is the basic aim of this tourney. Speaking on the occasion the President & CEO Mobilink Rashid Khan said, "The enthusiastic fervor displayed by golfing enthusiasts, from Lahore, in the Indigo Golf Tournament has made this recreational event into a popular sporting activity. Our aim through sponsoring these activities is to support such exciting events that engender social harmony and foster a participative spirit in the community." More than 100 participants took part in the golfing tournament; the ever growing number of golfing women is a healthy sign. The significant performers were presented high-valued gifts from Mobilink. Separate accolades were rewarded to winners of the men's and women's categories. The Main Event win for Ladies Net was rewarded to Nubia Khan. The Main Event win for Gents Net was rewarded to Asadullah Khan and Gents Gross rewarded to Omar Salamat.-NNI
9
Tuesday, November 30, 2010
European vegetable oil prices
BEIT LAHIA-GAZA STRIP: A Palestinian farmer picks strawberries for export at a farm in Beit Lahia, in the northern Gaza Strip. -Agencies
Indian sugar rises on lower Dec quota talk MUMBAI: India's spot sugar price rose to its highest level in nearly eight months on Monday on hopes of lower non-levy quota for December and slow pace of cane crushing in key producing states, dealers said. Non-levy, or free-sale, sugar is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. "Slower pace of canecrushing and concerns over recovery rate also supported sentiments," Jain said. Unseasonal rains over the two key Indian sugar producing states have pared the recovery rate by nearly 1 per cent, initial reports show, and government and industry officials worry persistant rains could potentially hit output and trim exports. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety rose by 0.7 per cent to 2,877 rupees ($62.68) per 100 kg, the highest level since April 3. -Reuters
Malaysia palm gains on weather, Irish bailout KUALA LUMPUR: Malaysian crude palm oil futures hit a two-week high on Monday as caution receded after European authorities agreed to bail out Ireland and concerns grew over the weather in oilseed growing regions. The price of the vegetable oil resumed a rally ahead of a price outlook conference starting in Indonesia on Wednesday from which traders are expecting bullish forecasts. Finance ministers from the 16-nation euro-zone, anxious to prevent market contagion engulfing Portugal and Spain, unanimously endorsed an emergency loan package of 85 billion euros ($115 billion) to help Dublin cover bad bank debts and bridge a huge budget deficit. Benchmark February 2011 palm oil on the Bursa Malaysia Derivatives Exchange rose as much as 112 ringgit, or 3.5 per cent, to 3,390 Malaysian ringgit ($1,075) per tonne in the
afternoon session before settling at 3,381 ringgit. Traded volumes almost doubled from the usual to 18,360 lots of 25 tonnes each. Prices were also boosted by heavy monsoon rains that have disrupted some harvesting rounds in oil palm growing regions in Malaysia and increased moisture content in oil palm fruits, while drier weather has delayed soy plantings in South America and hurt the US wheat crop. Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will report Malaysia's November palm oil exports on Tuesday. Exports have so far risen by nearly a quarter for the first 25 days in November. US soyoil for Dec delivery rose 1 per cent in late Asian trade. The most-active September soyoil contract on the Dalian Commodities Exchange closed up 1.4 per cent. -Reuters
Gold holds near $1,360/oz; eyes euro-zone debt woes LONDON: Gold prices steadied near $1,360 an ounce in Europe on Monday, surrendering earlier gains as the dollar hit a fresh two-month high versus the euro but remaining supported by concerns over euro-zone debt levels. Investors fear that Portugal may be the next country that struggles with its sovereign
debt after Greece and Ireland were forced to seek bailouts from the European Union earlier this year. Spot gold was bid at $1,360.50 an ounce at 1438 GMT against $1,361.73 late in New York on Friday, having earlier risen as high as $1,367.65. US gold futures for December delivery eased $3.00 to $1,359.40. RBS Global Banking & Markets analyst Daniel Major
said euro-zone sovereign debt concerns were pulling gold in two directions at once. "You have seen moves in the currency markets that are offsetting, to an extent, the sovereign concerns," he said. EU finance ministers on Sunday endorsed a bailout package to help Dublin cover bank debts and bridge a budg-
et deficit and outlined a permanent system to resolve the euro-zone debt crisis. Physical gold demand emerged last week as prices slipped back towards $1,350 an ounce, especially in Asia,
analysts said. "Our sales to India Friday were the largest since Oct. 27, when gold traded under $1,330, and more than double the 2010 daily average," UBS analyst Edel Tully said in a note. "This is a strong indicator that there's much residual physical demand in the system that will provide ample support on dips," she added. Among other precious metals, silver was at $26.74 an ounce against $26.66. The world's largest silver exchange-traded fund, the iShares Silver Trust, said its holdings fell to 10,711.23 tonnes on Nov. 26 from a record high. Platinum was at $1,632.49 an ounce against $1,645, while palladium was at $675.97 against $674. Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for November 26 2010 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1320
1260
January (3rd Wednesday)
1320
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for November 26 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
2200 2210 2170 2180 2125 2135 2125 2135
2242.5 2243 2265 2266 2328 2333 2385 2390
8287 8288 8230 8235 8035 8045 7665 7675
2263 2264 2289 2290 2258 2263 2220 2225
22505 22510 22595 22600 22275 22375 21700 21800
TIN
ZINC NASAAC
24055 2117.5 2210 24060 2118 2210.5 24095 2124 2230 24100 2125 2235 23750 2165 2245 23800 2170 2255 2145 2295 2150 2305
ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 18:00 PST. SOYOIL: EU degummed euro tonne fob exmill Jan11 930.00+12.00, Feb11/Apr11 935.00+12.00, May11/Jul11 937.00+11.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 930.00+5.00, May11/Jul11 940.00+10.00, Aug11/Oct11 915.00+0.00, Nov11/Jan12 925.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Dec10 1450.00, Jan11 1440.00, Feb11/Mar11 1420.00, Apr11/Jun11 1380.00+5.00, Jul11/Sep11 1405.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Nov11/Dec11 1240.00-2.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Dec10 1150.00+32.50, Jan11/Mar11 1135.00+32.50, Apr11/Jun11 1117.00+37.50. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1160.00, Jan11/Mar11 1150.00. PALMOIL: RBD dlrs tonne fob Malaysia Dec10 1115.00, Jan11/Mar11 1105.00+37.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Dec10 1125.00, Jan11/Mar11 1115.00+37.50, Apr11/Jun11 1097.50+40.00, Jul11/Sep11 1085.00+40.00. PALM STEARIN: Dlrs tonne fob Malaysia Dec10 1095.00+15.00, Jan11 1095.00+15.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Nov10/Dec10 1550.00, Dec10/Jan11 1550.00+45.00, Jan11/Feb11 1545.00+40.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Nov10/Dec10 2050.00+0.00. Reuters
Tokyo rubber ends higher, but gains limited BANGKOK: Tokyo rubber ended slightly higher on Monday on the back of strong oil prices and an easing Japanese yen, but gains were limited by profit-taking, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 2.4 yen to settle at 357.3 yen ($4.25) per kg. The Shanghai Futures Exchange said on Thursday it will raise margin requirements and widen daily price move limits on its contracts from next week. Traders said such a move could trigger liquidation of speculative positions. The most active Shanghai rubber futures for May delivery rose 275 yuan to settle at 30,650 yuan per tonne on Monday. Dealers said TOCOM rubber could rise further on Tuesday after it finished above a key psychological level of 350 yen per kg and limited supply on the fundamental side should lend further support. -Reuters
Oil falls from two-week high on euro-zone woes US dollar rally depresses stocks, commodities LONDON: Oil lost upward momentum, after rising to a two-week high on Monday, as a European Union rescue plan for Ireland failed to calm persistent worries about the health of other euro-zone members. As the euro weakened and the dollar rallied on worries about a spreading crisis within the euro-zone, stocks fell sharply. Oil outperformed equities, supported by cold weather in Europe and concerns about security in the Gulf. US crude for January traded broadly flat at $83.76 a barrel at 1502 GMT after rising 1.5 per cent to a high of $85.03 a barrel earlier in the day. Oil has declined from a twoyear high of $88.63 seen earlier in November due to worries that euro-zone debt problems could keep a lid on growth and energy demand. ICE Brent for January rose 12 cents to $85.70 as the dollar rose by nearly 1 per cent against a basket of currencies and the euro hit a two-month low.
Finance ministers from the 16-nation euro-zone unanimously endorsed an emergency loan package of 85 billion euros ($115 billion) to help Dublin cover bad bank debts and bridge a huge budget deficit. Some analysts noted that oil prices showed more resistance than other assets classes, with
US stock index futures turning negative on Monday. "The southern European sovereign debt crisis would have to take a severe turn for the worse to derail positive commodity price trends that are finding strong support from improving fundamentals and positive market sentiment towards growth assets," Barclays Capital analysts said in a report. Euro-zone economic sentiment improved more than expected in November, data showed on Monday. Later in
Copper falls on EU debt worries LONDON: Copper eased on Monday on concerns an 85 billion euro ($112.6 billion) bailout for Ireland could herald more debt problems in Europe, although losses were limited by expectations of tightening supply. Three-month copper on the London Metal Exchange ended at $8,220 a tonne, versus a close of $8,239 a tonne on Friday, after hitting a low of $8,175 earlier. "There is clearly a lot of macro chaff floating around," said Daniel Major, an analyst at RBS Global Banking & Markets. "First thing in the session, the Irish bailout supported risk appetite, but since then we've seen it deteriorate a little bit and a stronger dollar has emerged." Copper reversed earlier gains as the euro touched twomonth lows versus the dollar and European shares fell, while investors looked past a rescue package for Ireland to debt problems in other peripheral euro zone economies. A rising dollar makes metals costlier for non-US investors. "Prices have been dragged back by the stronger dollar and also the weaker equity market," said Eugen Weinberg, an analyst at Commerzbank. "Because the market is telling us, especially the equity market, that the European problems are far from over." On the supply side, union leaders at the world's No 3 copper mine, Chile's
Collahuasi, on Monday prepared to open wage talks with management, which both sides hoped could end a threeweek strike after workers shunned a previous offer. Collahuasi said it was loading a new shipment bound to
Shanghai copper jumps Copper prices on Monday rose about one per cent as it was supported by supply tightness in the global market, shrugging off the impact of a stronger dollar amid persistent euro-zone debt worries. Three-month copper on the London Metal Exchange rose one per cent to $8,315 a tonne by 0705 GMT, after touching a low of $8,175 earlier in the day. Shanghai's benchmark third-month copper closed up one per cent at 62,310 yuan a tonne, after hitting a session low of 61,100 yuan. Shanghai aluminium rose by 0.3 per cent to 16,220 yuan. Asia and its output remained normal under a contingency plan despite the strike. "It doesn't look like they've lost too much production," added RBS's Major. About 2.5 million tonnes of production capacity in the copper industry are vulnerable to labour contract expiries next year, he estimated. Government data from Chile showed that copper output in the world's No. 1 producer sank 7 per cent against October 2009. -Reuters
the week, the focus will shift to China's and European PMIs, followed by euro-zone GDP data and an ECB meeting on interest rates followed by US data on non-farm payrolls and unemployment. A Reuters November oil price poll showed that most analysts were revising their price estimates upwards, while a Reuters survey of OPEC showed slightly better compliance with production curbs S a u d i Arabia's King Abdullah has repeatedly urged the United States to attack Iran's nuclear installations, according to a vast cache of US diplomatic cables released on Sunday in an embarrassing leak that undermines US diplomacy. Jakob from Petromatrix said a cold spell in Europe was supportive of the oil price but that temperatures in Chine have been so far above normal. He noted that oil prices were back to levels at the start of 2008 and more than double the start of 2009. -Reuters
ICE cocoa eases; sugar firms LONDON: ICE cocoa futures were little changed on Monday, despite tension in top grower Ivory Coast after Sunday's presidential run-off election, while sugar edged up with the support of tight supplies. ICE arabicas edged higher, with upside limited by a strengthening dollar after EU finance ministers endorsed a rescue package for Ireland, and London robustas fell under pressure from the Vietnamese harvest. Cocoa markets reversed earlier gains to take in their stride the tense atmosphere in Ivory Coast. Cocoa futures on ICE dipped, with March down $31 at $2,763 a tonne at 1523 GMT. Liffe second-month cocoa was down 5 pounds to 1,869 pounds per tonne in thin volume of 2,280 lots. Sugar futures rose, supported by a monthly report from merchant Czarnikow predicting a global sugar deficit, with many producers expected to fail to reach production targets due to adverse weather. ICE March raw sugar was up 0.11 cent to 28.36 cents a lb at 1520, while Liffe March white sugar was up $5.70 or 0.8 per cent to $724.10 per tonne in modest volume of 1,246 lots. In coffee, Liffe robusta futures prices eased, under pressure from the harvest in top producer Vietnam. Liffe January robusta coffee futures were down $37 or 2 per cent to $1,779 per tonne at 1524 GMT. ICE March arabicas were up 0.30 cent to $2.0300 per lb at 1525 GMT. -Reuters
National Commodity Exchange Ltd Trading Summary Date 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010 29-Nov-2010
Commodity CRUDE100 CRUDE100 CRUDE100 GO100OZ GO100OZ GO100OZ GO1OZ GO1OZ GO1OZ GOLD GOLD GOLD GOLDKILO GOLDKILO IRRI6W KIBOR3M KIBOR3M KIBOR3M KIBOR3M KIBOR3M KIBOR3M PALMOLEIN PALMOLEIN PALMOLEIN RICEIRRI6 RICEIRRI6 RICEIRRI6 SL500OZ SL500OZ SL500OZ TGOLD100 TGOLD100 TGOLD100 TGOLD50 TGOLD50 TGOLD50 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD
Contract Date
Price Quotation
Open
JA11 FE11 MA11 JA11 FE11 MA11 JA11 FE11 MA11 DE10 JA11 FE11 DE10 JA11 02DE10 10-Dec 11-Mar 11-Jun 11-Sep 11-Dec 12-Mar DE10 JA11 FE11 DE10 JA11 FE11 JA11 FE11 MA11 DE10 JA11 FE11 DE10 JA11 FE11 2-Aug FRI THU WED MON
US$ 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 Per 10 Grams Per 10 Grams Per 10 Grams Per 10 Grams Per 10 Grams Per 100 Kg Per Rs 100 Per Rs 100 Per Rs 100 Per Rs 100 Per Rs 100 Per Rs 100 Per Maund Per Maund Per Maund Per 100 Kg Per 100 Kg Per 100 Kg US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Rs Per Tola Rs Per Tola Rs Per Tola Rs Per Tola Rs Per Tola Rs Per Tola Per 10 Grams Per 10 Grams Per 10 Grams Per 10 Grams Per 10 Grams
84.17 84.76 0.00 0.00 1368.10 0.00 1361.40 1362.30 1364.10 37557.00 37517.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
High
Low
84.98 83.78 85.34 84.67 0.00 0.00 0.00 0.00 1368.10 1360.00 0.00 0.00 1368.00 1358.00 1369.20 1359.00 1371.00 1361.00 37557.00 37550.00 37517.00 37517.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.15 26.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Close 83.78 84.67 0.00 0.00 1362.00 0.00 1358.60 1360.00 1363.00 37550.00 37517.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 26.62 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
Traded Volume in lots 250 10 0 0 10 0 1066 1103 163 12 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72 0 0 0 0 0 0 0 0 0 0 0 0 0
Previous Settlement Price 84.33 84.92 85.44 1364.10 1365.00 1367.10 1364.10 1365.00 1367.10 37489.00 37500.00 37515.00 37461.00 37472.00 3292.00 86.73 86.02 85.69 86.10 86.14 86.09 4681.00 4736.00 4786.00 3307.00 3346.00 3381.00 26.87 26.91 26.96 43694.00 43707.00 43724.00 43694.00 43707.00 43724.00 38770.00 38809.00 38796.00 38783.00 0.00
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 83.78 86 84.67 13 0.00 0 0.00 0 1362.00 6 0.00 0 1358.60 1779 1360.00 1350 1363.00 53 37550.00 16 37517.00 23 0.00 0 0.00 1 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 26.62 54 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0
England World Cup 2018 CEO Anson attends a news conference in Zurich
10
Tuesday, November 30, 2010
National hockey coach returns to fete victory ISLAMABAD: Pakistan Hockey Team's Dutch coach Michel Van Den Heuvel return back to Netherland to meet his family and celebrate his first victory in Asian Games. Pakistan Hockey Federation (PHF) hired Michel Van Den Heuvel as foreign coach after the worst performance in the hockey world cup 2011 to perform better in future international activities but former Olympians criticise the federation over the appointment of Dutch coach. After done his first tack in the Asian Games where Pakistan won the gold medal after 20 years Michel Van Den went back to home where the family persons are waiting for him to celebrate his first victory.-Online
Haider vows to reveal corrupt KARACHI: In what could bring more trouble for Pakistan cricket, stumper Zulqarnain Haider on Sunday said he will reveal the identity of the people, who took bribes while being in the country's cricket set-up. Soon after his announcement on the Facebook page, his family filed a police complaint as his wife got threatening calls from an unknown caller. Haider had fled to London after allegedly receiving death threats from match-fixers when he was in Dubai for an ODI series against South Africa and retired from international cricket in a hush. Haider is apparently miffed by negative remarks about him by Pakistan's one-day captain Shahid Afridi, manager Intikhab Alam and the PCB legal advisor Tafazzul Rizvi. He wrote on his Facebook page that all those who were talking negative about him should wait for five more days and he will expose them. Zulqarnain had earlier on his MSM page declared he would soon be in Islamabad. "I will soon let the people know the background of some people and about those who take or had taken money," he wrote on the social-networking site.-Agencies
1st Ashes test drawn
Aussies call up quicks to find killer touch BRISBANE: Australia called up two more quick bowlers to their squad for the second Ashes test as they continue to search for the killer touch that again eluded them in the first test at the Gabba on Monday. The once-dominant Australians have got into the habit of letting teams off the leash from strong positions recently, most notably in a test defeat to India in Mohali last month. Australia were again in charge with a first innings lead of 221 on day three of the Gabba test but England batted for two days to earn a morale-boosting draw. "We got ourselves in a good position in the game through our batting," said Ponting. "Even this morning coming to the ground I felt only one team was good enough to win this game if we were good enough to take some early wickets. "We weren't good enough this morning so it ended up unusually being a drawn game at the Gabba." Australia responded by calling up Ryan Harris and Doug Bollinger to supplement their fast bowling corps of Mitchell Johnson, Peter Siddle and Ben Hilfenhaus
doubt that we've got a lot of improvement to do with our
GUWAHATI: Virat Kohli's sparkling century helped India script a 40-run victory against an injury-hit New Zealand to take a 1-0 lead in the five-match series. Chasing a challenging target of 277 at the Nehru Stadium, New Zealand were short on experience with skipper Daniel Vettori and explosive opener Brendon McCullum missing out due to back injuries as the visitors were all out for 236 in 45.2 overs. Stand-in skipper Ross Taylor top-scored for the Kiwis with a fighting 66 from 69 balls studded with three sixes and three boundaries. At 169 for eight, New Zealand looked to give up
I exhausted every option as far as fielders and tactics, we
Adelaide again, we've got to make sure we're a whole lot
BRISBANE: England’s Trott makes his ground as the ball hits his wicket during the first Ashes test against Australia.-Reuters
"We have to work to work out what is the best attack to take us 20 wickets in Adelaide," Ponting said. "No
bowling group. "We didn't bowl as well as we could by any stretch of the imagination ... I felt like
India overpowers Kiwis by 40 runs
AKU tennis tourney kicks off KARACHI: Aga Khan University's (AKU) InterUniversity Tennis Tournament 2010 (Boys) organised by Sports and Rehabilitation Centre AKU commenced from Monday, said a statement issued here. Six Teams representing reputable Institutions across Karachi are taking part in the Tournament. The teams have been divided into 2 pools. The Tournament round matches will be played on league basis at the AKU Sports Centre Tennis Court. Top Team from each pool will play the Final. Teems participating in the event are Iqra University (IU), Institute of Business Administration (IBA), NUST Karachi, Dawood College of Engineering & Technology (DCET), Aga Khan University Green (AKU-Green) and Aga Khan University White (AKUWhite). Two matches were played on the opening day. Dr Shoaib Qureshi, Professor, Department of BBS & Chair, Sports Centre Advisory Committee, Aga Khan University inaugurated the Tournament.-PR
for the Adelaide test, which begins on Friday.
easily but Nathan McCullum (35 from 35 balls, 4x4) and Kyle Mills (32 from 28 balls, 2x4, 2x6) produced a 67-run ninth wicket stand to give India some tough time in the middle. But Sreesanth (three for 67) broke the partnership dismissing Nathan and Mills with the former being brilliantly caught by skipper Gambhir as India won the match with 28 balls to spare. Under intense scrutiny, Yuvraj Singh failed with the bat but he was really effective with his bowling claiming three for 43 from his full quota of 10 overs, while offspinner Ravichandran Ashwin took a career-best three for 50 to help India take
the series lead. Thanks to a compact 105 by in-form Kohli, the new look Indian side under Gautam Gambhir put on 276 as they were bowled out in 49 overs after the hosts were sent in to bat. Fresh from his back-to-back centuries in Ranji Trophy, the Delhi lad played a neat and chanceless knock from 104 balls with 10 boundaries for his second consecutive and fourth overall one-day century. But Kohli's dismissal brought in a stunning Indian collapse as the lower-order managed 26 runs from last six overs something that exposed the new look side's inexperience at this level.-Agencies
just weren't able to break their top three or four players. "If we get a flat wicket in
KP CM lauds Malik Saad sports trust PESHAWAR: Chief Minister Khyber Pakhtunkhwa Ameer Haidar Khan Hoti said Monday that Malik Saad Memorial Sports Trust had rendered valuable services for promotion of sports and welfare of sportsmen and had awarded scholarships to intelligent students. He expressed these views while chairing a meeting of Board of Directors Malik Saad Memorial Sports Trust here at his office. Chief Secretary Ghulam Dastageer Akhtar, Chairman Malik Saad Memorial Sports Trust Malik Naveed, Acting PPO Khyber Pakhtunkhwa Abdul Latif Gandapur, Commissioner Peshawar Division Akbar Khan, former provincial ministers, Secretary Malik Saad Memorial Sports Trust Amjid Aziz Malik and other board members attended.-APP
better than we were in this game." Bollinger, who is returning from a side strain, was left
out of the team for the first test in favour of Siddle, who took a hat-trick and six wickets in England's first innings. Harris, who is also on the comeback trail after knee surgery, was included in the original 17-man Australia squad for the first test. "He's had some niggly knee problems," said Ponting. "I understand at the moment that he's going particularly well in the (Sheffield) Shield match he's playing at the moment and everybody I've spoken to said that injury he had will be fine for a test match." Johnson had a particularly poor test, going without a wicket at the cost of 170 runs. "I have seen him bowl better," Ponting said. "But I wouldn't want to single anyone out because I don't think any of our bowlers were at their best in this game." Australia squad for second test - Simon Katich, Shane Watson, Ricky Ponting (captain), Michael Clarke, Mike Hussey, Marcus North, Brad Haddin, Mitchell Johnson, Ben Hilfenhaus, Peter Siddle, Doug Bollinger, Ryan Harris, Xavier Doherty.-Reuters
WC hosting race enters final week ZURICH: The race to host the 2018 and 2022 World Cups is still considered to be wide open as it enters the final week having survived a corruption scandal which threatened to derail the whole process. Voting is restricted to members of FIFA's executive committee and bidders believe many are still undecided. Even the number of voters taking part on Dec. 2 is uncertain after two of the 24-man committee were suspended and FIFA still has to decide on a last-minute request to replace one of them. FIFA has prepared painstaking reports on the technical and financial attributes of each bid, but Sepp Blatter, president of soccer's governing body, appreciates personal whims could hold more sway than the
quality of the bids themselves. "It wouldn't be worth making technical reports if finally those who are going to vote are not using the information of such reports," he said. "But we are not only dealing with the World Cup institution, we are also dealing with human beings, and they have ideas other than those which are available in the documents." There are four bids for the 2018 tournament from England, Russia, Spain/Portugal and Netherlands/Belgium and five for 2022 -- United States, Japan, South Korea, Qatar and Australia. Of those, Russia, Portugal, Netherlands, Belgium, Qatar and Australia have never staged soccer's biggest event.-Reuters
Federer crushes Nadal to claim ATP Tour title LONDON: Roger Federer sent a timely reminder to Rafael Nadal on Sunday, outgunning the world number one to win the ATP World Tour Finals with an irresistible display of attacking tennis. Federer, overshadowed this season by the phenomenal Nadal, won 6-3 3-6 6-1 in front of 17,500 fans at London's O2 Arena for a record-equalling fifth title at the year-ending finale, matching the feat of Ivan Lendl and Pete Sampras. Nadal, who won this year's French Open, Wimbledon and U.S. Open titles to knock Federer off the top of the rankings, looked jaded after his epic semi-final against Andy Murray on Saturday and the Swiss seized his chance in style. Federer fired down 32 winners in the one hour 37 minute contest to Nadal's 11 as he beat the Spaniard for only the second time in two and half years. Nadal now leads 14-8 in their series dating back to 2004 but Federer's form since his shock defeat by Tomas Berdych at Wimbledon sug-
gests the 24-year-old will be challenged hard for the sport's majors again next year. In going through the roundrobin tournament undefeated Federer also added $1.6 million (1.0 million pounds) to his considerable bank balance, although notching another victory over his great rival, and regular nemesis, was satisfaction in itself. The 16-times grand slam champion roared with delight as he looped a forehand on to the baseline and, after a slight hesitation, Nadal opted not to challenge the call and began walking to the net to shake hands. TOP TWO For the time since 1986 the world's top two players in the ATP rankings contested the final match of the season -- a fitting end to a tournament that attracted 250,000 fans over eight days to London's Docklands. Though the match lacked the drama of their previous one in London -- Nadal's unforgettable 2008 Wimbledon final defeat of Federer -- it still pro-
vided a feast for a sell-out crowd as both players traded blows. Nadal had the first sniff of a chance at 3-3 when he had Federer down 0-30 on serve but he was helpless as the Swiss reeled off four perfect points. In the next game, Federer earned a break point with a forehand winner and converted it when he rolled a backhand beyond the reach of Nadal. In what seemed like the blink of an eye, the Swiss had moved a set ahead but Nadal, playing in the final of the season-ender for the first time, levelled the match after breaking Federer's serve in the fourth game of the second set. Predicting a winner at that stage looked impossible but Federer struck the decisive blow to move 3-1 ahead in the decider when Nadal hit a tiredlooking backhand wide. Nadal got to deuce on the next game but Federer slammed the door shut with an ace to move 4-1 ahead and there was no way back for the Mallorcan.-Reuters
LONDON: Switzerland's Roger Federer returns the ball to Spain's Rafael Nadal during their singles match at the ATP World Tour Finals.-Reuters
Euro zone 2011 growth to slow amid spending cuts BRUSSELS: The euro zone's economy will slow slightly next year as governments cut spending to win back financial market confidence, but private demand will give growth a fresh boost in 2012, the European Commission said on Monday. In its twice-yearly economic forecasts for the 27-nation bloc, the European Union executive said growth in the single currency area would slow to 1.5 per cent in 2011 from 1.7 per cent seen this year, but rebound to 1.8 per cent in 2012. "With private domestic demand as a whole strengthening, the recovery is said to be increasingly self-sustaining over the forecast horizon," Economic and Monetary Affairs Commissioner Olli Rehn told a briefing. The main engine of growth in the euro zone will be the biggest economy Germany, where growth is likely to slow substantially next year from the 3.7 per cent expansion seen in 2010, but still be a respectable 2.2 per cent. A weaker global economy will cut demand for euro zone exports, but many euro zone governments will also be slashing spending and raising taxes to return public finances to a sustainable path. The aggregated euro zone budget deficit will shrink next year and in 2012, but debt will continue to rise, with that of Belgium and Ireland becoming larger than their annual output, the Commission said. Concern over the ability of Ireland to service its huge debt, which was boosted by government support to the ailing banking sector, has forced Dublin to seek EU financial
help and prompted concern Portugal and even Spain could be next. The budget deficit of the countries using the euro will fall to 4.6 per cent of gross domestic product next year from 6.3 per cent expected this year and further to 3.9 per cent in 2012. Government debt is set to rise to 86.5 per cent of GDP next year from 84.1 per cent in 2010 and increase to 87.8 per cent in 2012. "A determined continuation of fiscal consolidation and frontloaded policies to enhance growth, are essential to set a sound basis for sustainable growth and jobs," Rehn said. "The turbulence in sovereign debt markets underlines the need for robust policy action." The market spotlight has now turned to Portugal, which has a large debt, but very slow growth and an uncompetitive economy. Weighed down by heavy cuts in budget spending and higher taxes, Portugal will fall back into recession, contracting 1 per cent in 2011, and return only to weak growth of 0.8 per cent in 2012, the Commission forecast. Lisbon plans to cut its budget deficit to 4.9 per cent in 2011 from 7.3 per cent this year, but its debt will rise to 88.8 per cent of GDP in 2011 from 82.8 per cent seen this year. "In case the fiscal target would be missed because of somewhat lower growth materialising, then the government assumes that is essential still to meet the fiscal target if necessary by taking additional measures," Rehn said. "And moreover, it is clear that it is essential that Portugal will develop and implement
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International & Continuation
Tuesday, November 30, 2010
equally ambitious structural reforms to reach its growth potential," he added. Ireland, which on Sunday agreed on an 85 billion euro rescue package from the EU and the International Monetary Fund, will see its economy grow 0.9 per cent next year after a 0.2 per cent contraction this year, but growth should accelerate to 1.9 per cent in 2012, the Commission said. Dublin will have the biggest budget gap in the EU of 32.3 per cent this year, because of huge costs of supporting its ailing banking sector, but will reduce that shortfall to 10.3 per cent next year and cut it further to 9.1 per cent in 2012. "The Irish economy is flexible and while there are serious challenges concerning public finances and especially the banking sector... it has the capacity of rebounding rapidly from this recession. Export growth is already a fact," Rehn said. Spain, also in the market spotlight because of its low growth and a potentially costly repair of its banking system, will contract 0.2 per cent in 2010 but grow again 0.7 per cent in 2011 and 1.7 per cent in 2012, the Commission said. Its deficit is to fall to 6.4 per cent in 2011 from 9.3 per cent in 2010 and to 5.5 per cent in 2012 as Madrid's austerity measures kick in. Spain wants to cut its budget deficit to 6 per cent next year, a target Rehn called challenging. "The Spanish fiscal strategy...is on track. If growth next year is lower than expected, it is necessary to take further measures to make sure that the fiscal target is met," he said. While deficits will decline, debt will still rise.-Reuters
World Bank chief says double-dip recession unlikely NEW DELHI: The global recovery continues to be "very uncertain," but a double-dip recession is unlikely, the World Bank president said in an interview to an Indian news channel to be aired later on Monday. In June, the World Bank had warned of a possible double-dip recession in some countries if investors lost faith in efforts in Europe and elsewhere to tackle rising debt levels. "I don't think that there will be a double dip and I would not say a per centage figure because I think it's not likely," Robert Zoellick told NDTV channel. "But, what I would say is this, we are far from finished...I think that there is a problem with confidence." In the aftermath of the European debt crisis, the World Bank had called for "significant" fiscal consolidation in advanced economies, adding the quicker it happened, the better it would be for developing economies. "...there are definitely risks out there and this is still a very uncertain recovery and therefore it's important for government to try to focus on the structural policies," Zoellick said. Zoellick advocated the need for a flexible exchange rate policy but downplayed the importance of currency appreciation in addressing global trade imbalances. The United States has been cajoling China to allow its yuan currency to rise faster, and accuses it of keeping it undervalued to gain a trade advantage. Foreign exchange rates are central to the current account imbalances debate, with the United States initially advocating the need for numerical targets as a tool to iron out rifts between export-rich countries and debt-laden consumer nations.-Reuters
France, Germany say euro saved, but investors skeptical BERLIN: Germany and France declared on Monday that Europe had taken decisive action to save the euro by rescuing Ireland and laying the foundations of a permanent debt resolution system, but markets were unconvinced. Under pressure to arrest the threat to the currency before markets opened and prevent contagion engulfing Portugal and Spain, EU finance ministers endorsed an 85 billion-euro ($115 billion) loan package on Sunday to help Dublin cover bad bank debts and bridge a huge budget deficit. They also approved the outlines of a long-term European Stability Mechanism (ESM), based on a Franco-German proposal, that will create a permanent bailout facility and make the private sector gradually share the burden of any future default. "This is a measure which is not simply a single shot taken in response to an important crisis, it forms part of the absolute determination of Europe -- of France and Germany -- to save the euro zone," French government spokesman Francois Baroin told Europe 1 radio. German Finance Minister Wolfgang Schaeuble said calm and reality should return to financial markets, where speculation against euro zone countries was "hardly rational." And French Economy Christine Lagarde said "irrational," "sheep-like" markets were not pricing sovereign debt risk in Europe correctly. But the deal failed to lift markets, the euro falling to twomonth lows against the dollar as investors focused the debts of peripheral euro zone economies. "I think it is almost impossible now to stop the contagion," said Mark Grant, managing director of corporate syndicate and struc-
tured debt products at Southwest Securities in Florida. The cost of insuring Portuguese and Spanish debt hit record highs and investors demanded a higher premium to hold Belgian and Italian government bonds over German debt . "Spain and Portugal (credit default swaps) are now at record wides, suggesting that contagion fears haven't been assuaged by Ireland's bailout," said Markit analyst Gavan Nolan. Portugal is widely seen as the next euro zone "domino" at risk and business confidence for November added to the gloom. It fell for the second straight month on poor prospects for the economy due to austerity measures designed to calm investor concerns about its creditworthiness. Nouriel Roubini, the US economist who warned of an impending credit crisis before 2007, told the Diario Economico business daily that Portugal would likely need a bailout. "Like it or not, Portugal is reaching the critical point. Perhaps it could be a good idea to ask for a bailout in a preventative fashion," he said. Troubles in Portugal could spread quickly to Spain because of their close economic ties, and EU Economic Monetary Affairs Commissioner Olli Rehn warned Madrid might in any case need to take further austerity measures to trim its deficit if growth were lower than forecast next year. Spain is seen as having to pay more to lure investors to Thursday's three-year bond offering, though five-year credit default swaps on BBVA and Santander tightened on Monday after widening aggressively last week. Under its bailout, Ireland was given an extra year, until 2015,
to get its budget deficit down below the EU limit of 3 per cent of gross domestic product, an acknowledgment that austerity measures will hit growth in the next four years. Greece has been given a six year extension to 2021 on loan repayments linked to its rescue, said Finance Minister George Papaconstantinou, at the price of a higher rate of interest. The new European Stability Mechanism could make private bondholders share the cost restructuring a euro zone country's debt issued after mid-2013 on a case-by-case basis. The lack of detail in an earlier Franco-German deal on a crisis mechanism, agreed last month, and talk of private investors having to take losses, or "haircuts," on the value of sovereign bonds, helped drive Ireland over the cliff. International Monetary Fund procedures would apply in the ESM. The IMF's "lending into arrears" policy stipulates that the Fund will lend to a country that is making good-faith efforts to come to an agreement with bondholders. European Central Bank President Jean-Claude Trichet said the important points were that the IMF's doctrine would apply, the European Union would not get involved in debt restructuring itself and existing bondholders would not be hit retroactively. Debt worries have driven the crisis for the past year, severely denting confidence in the 12year-old euro currency and producing what amounts to a showdown between European politicians and financial markets. The proposed permanent crisis resolution mechanism, to be finalized in the coming weeks, is intended to prevent Europe having to rush like a fireman from one blaze to another.-Reuters
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hanged under controversial blasphemy laws that rights activists say encourage extremism. Rights activists and pressure groups say it is the first time that a woman has been sentenced to hang in Pakistan for blasphemy.-Agencies
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On Sunday, disgruntled activists of the Pakistan People's Party (PPP) led by Naheed Khan, political secretary to the PPP's slain chairperson Benazir Bhutto, has accused the party leadership of promoting cronyism and nepotism in the party and the government at the cost of ideologues and 'true workers'. The charges are part of a resolution adopted at a ceremony organised by the dissident group here on Sunday at the residence of Sardar Hur Bukhari to mark 44th Foundation Day of the party. It is pertinent to mention that Safdar Abbasi's membership of CEC has already been suspended.-NNI
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foil the designs of those who were trying to destabilise Pakistan. -NNI
Relations between India and Pakistan deteriorated sharply following the attack, but tension has eased in recent months. The United States wants ties between the two countries to improve so that Pakistan can focus more closely on fighting Afghan militants who cross its border to attack US-led Nato troops in Afghanistan. "We want the perpetrators to be punished through legal means, and our interior ministry has sought more information from India," said Pakistan's Foreign Minister Shah Mehmood Qureshi on Friday. Nine attackers were killed in gun battles with Indian security forces during the attack on Mumbai while the tenth, Mohammad Ajmal Kasab, sentenced to death by an Indian court. The prosecution of the seven accused in Pakistan has stalled because officials are demanding that Kasab be allowed to testify in Pakistan, which New Delhi has refused. The seven suspects on trial included Zakiur-Rehman Lakhvi, a LeT commander, who has been identified as a key person in the Mumbai attack by David Coleman Headley, an American who pleaded guilty in a US court in March to charges that he scouted targets for LeT for the assault. -Reuters
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Thousands of Pakistanis are getting higher education in Swedish universities as well as doing jobs, and contributing to the Continued from page 12 No #4 economy of Sweden, she said. She showed interest in seeking He said Sri Lanka can be a tourist heaven and with better infra- more skilled labor from Pakistan. Sweden is one of the important trading partners of Pakistan in structure and peace, improve its potential and make it a more attractive. The President said since 2008, Pakistan too underwent EU, and the bilateral trade between the two countries has reached a fundamental democratic transformation as it struggled hard for $ 212 million in 2009-10. Pakistan exports textile material, rice, democracy. He mentioned the great leaders, Zulfiqar Ali Bhutto carpets, rugs and sports goods to Sweden, and imports machinery and Mohtarma Benazir Bhutto Shaheed who laid down their lives parts, chemicals, metals and steels.-NNI for the democratic values and ideals. Continued from page 12 No #7 Lauding the services of Sri Lanka-Pakistan Parliamentarians as the United States taking Pakistan's nuclear weapons'". Friendship Association and Pakistan-Sri Lanka Friendship Group, Islamabad has been adamant that its nuclear weapons are in safe the President said these were manifestation of the strength and hands and US President Barack Obama has publicly concurred. substance of friendship between the two countries. But the Times said the leaked documents showed the United States The Speaker of the Parliament Chamal Rajapaksa said Sri trying to remove the uranium from a research reactor, fearing it Lanka would always remember the strong support of Pakistan to could be diverted for use in an "illicit nuclear device". Pakistan's rid it of the terrorism. He said the two nations were important foreign ministry said it had been officially informed of the leaks members of the United Nations and the Saarc and would continue by the US government in advance. to extend support to each other at all fora. The United States has longstanding concerns about proliferation The Speaker urged greater people to people contacts and collabfrom Pakistan and is reported to have set up an elite squad that oration in health, education, science and technology for the mutucould fly into the country and attempt to secure its weapons al good. He also called for more frequent exchange of parliamenshould the government disintegrate. Western analysts believe tary delegations to foster better understanding and to bring the China assisted Pakistan in developing the Khushab nuclear site to two nations closer. He also expressed deepest condolences over produce plutonium, which can be miniaturized for cruise missiles the loss of life in the recent flooding in Pakistan. The Sri Lanka-- presumably aimed at India. -Agencies Pakistan Parliamentarians Friendship Association, initially a mulContinued from page 1 tiparty caucus of 30 members, was established in Colombo in No #8 November 2007. that the inflation is likely to persist at double digit levels durUpon his arrival at the Parliament the President, accompanied ing much of FY11 and possibly in FY12. by Foreign Minister Shah Mehmood Qureshi, Defence Minister "Inflation is rising and showing persistence because of relentCh. Ahmad Mukhtar, Chairman BOI Saleem Mandviwala and less government borrowing from the SBP," the central bank said Finance Minister of Sindh, were received at the Parliament by the in a statement, adding that it expects inflation to remain in the Speaker, Sri Lankan Prime Minister D M Jayavartane, ministers double digits through fiscal year 2010/11 and possibly into fisand Chairmen of Sri Lanka-Pakistan Parliamentary Friendship cal year 2011/12. Association. -Agencies This meant it would also stop payments to the provincial governments.A principled decision has also been taken by the Continued from page 12 No #5 A senior Pakistani security official said the suspects had been Central Board to strictly implement the revised limits on borplaced on Pakistan's most wanted terrorists list about a year ago rowings of the provinces from the SBP, even if it involves stopping payments to the provincial governments, SBP believes that and a judge had issued permanent arrest warrants. "We believe they are hiding inside Pakistan. It's a huge country the entire responsibility of tackling macroeconomic problems and so many thousands of proclaimed offenders are there. It's a has been unfairly placed on monetary policy only. SBP also continuous process. There are over 1000 police stations. We circu- understands that the burden of this monetary tightening is being late this information to all of them," he told Reuters. "You are borne largely by the private sector, as it gets crowded out by the aware of Pakistan's mountainous areas. People can hide there excesses of government borrowing for budgetary purposes and indefinitely." The newspaper said the suspects included the alleged commodity operations, with all its adverse implications for suscaptain of two boats used in the attack as well as their 10 crew tainable economic growth according to Monetary Policy Decision. members, six financiers of the LeT and three others.
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Steel Mills eating precious 215 billion annually. In last four and a half month government borrowed alarming Rs266 billion from State Bank for the sake of increasing revenue. KCCI urged that government should bring feudal-lords into tax net who are just paying one per cent against their contribution to GDP of 22 per cent.
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requested for time for study and preparation of the reply over the issue. The court granted him time to submit his reply and adjourned the hearing till December 06. -Agencies
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with the remaining 25 items' prices unchanged.
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"We respected judiciary because we are the successors of Benazir Bhutto Shaheed", he said. Furthermore, Prime Minister Gilani has said that Pakistan and UAE enjoy brotherly relations and the Government and brotherly people of UAE had always stood by Pakistan in every hour of need. Prime Minister expressed these views while talking to HE Dr Hanif Hassan Ali, Health Minister of UAE, who called on him at Prime Minister House here prior to his departure to Rawalakot to inaugurate Sheikh Zayed Hospital.
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Officials added that they were hopeful that further interrogation would reveal more about LeJ's ongoing activities. This latest arrest was termed a major breakthrough in light of the possibility of terrorist attacks during the upcoming holy month of Muharram. To date, at least three suspects were known to be at-large in connection to the attack on the Sri Lankan cricket team, where a dozen gunmen shot at and threw grenades at the team bus, killing seven policemen and wounding six players, a British coach and a Pakistani umpire. A number of other suspects in the case were arrested over the last two years, or killed in operation is Dera Ismail Khan and North Waziristan. -Agencies
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The recommendations of Commission regarding to transfer the five ministries including Youth affairs, Population and Welfare, special initiatives, Zakat and Ushr and local bodies and rural development would come under consideration in the meeting. After reviewing the commission recommendations, Cabinet will give the final approval of five ministries to be placed under control of provinces. -NNI
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honor of the former President at the Royal palace. The former president Pakistan and His Majesty King Abdullah II mutually acknowledged the strong bond between the people of Pakistan and Jordan and reiterated that it should continue to grow. The former President discussed with the Jordanian King about the deteriorating political landscape of Pakistan and his vision to salvage, secure and strengthen Pakistan. Both the leaders also exchanged ideas on how to fight and win against Taliban and al Qaeda and bring stability in Afghanistan, Pakistan and the region. -Online
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Stifel's Mata said retail stocks had moved up in anticipation of positive weekend sales, and a selloff was expected. Online retailer Amazon.com Inc rose 1.1 per cent to $179.21 in hopes of strong sales on so-called Cyber Monday, a day of steep discounts for online shoppers. FedEx Corp added 3 per cent to $90.05.-Reuters
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Toshiba Corp climbed 2.8 per cent to 436 yen after saying it planned to cooperate with a Mongolian consultancy to explore rare earths, uranium and other minerals in resource-rich Mongolia. But Kagome Co fell 2.3 per cent to 1,486 yen after the maker of tomato juice and ketchup said the Bank of Tokyo-Mitsubishi UFJ would sell up to 2.23 million shares, or 2.2 per cent of outstanding shares, in the company through a secondary offering. Trading volume was light on the Tokyo exchange's first section, with 1.7 billion shares changing hands, down from Friday's 1.9 billion shares.-Reuers
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Oil services firm Petrofac was the top blue-chip faller, down 5.8 per cent, squeezed lower after a rally, with analysts raising strategic concerns over a deal in Nigeria. Oil explorer Cairn Energy shed 4.4 per cent, while metals firm Vedanta Resources lost 3.1 per cent. India's Oil Secretary S. Sundareshan said Monday a decision on Cairn's application to transfer majority stakes in its Indian assets to Vedanta will be taken before end-February. ther miners fell as metal prices reversed an earlier rally pressured by a stronger dollar, with Rio Tinto shedding 3.3 per cent and Antofagasta down 2 per cent. US blue chips were down 1.2 per cent by London's close, returning from Friday's postThanksgiving half-day session cautiously as worries lingered about the European credit crisis in spite of a bail-out deal finally being agreed for Ireland.-Reuters
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12
PPP suspends Naheed Khan's membership
COLOMBO: President Asif Ali Zardari addressing Pakistan-Sri Lanka Business Forum at local hotel Hilton Colombo.-APP
Zardari addresses Pakistan-Sri Lanka Business Forum
Barter trade with SLanka sought President offers assistance for cement, sugar, dairy industry COLOMBO: President Asif Ali Zardari Monday offered assistance to Sri Lanka in building its infrastructure and called for barter trade as measures to further solidify their deep relations. Addressing the members of Sri Lanka-Pakistan Parliamentary Friendship Association - a 30 member multiparty caucus from both the countries established in 2007, here at the Parliament House the President said the two countries need to go for a win-win situation for both. He said by going for barter
SECP CROs to remain open today ISLAMABAD: The Company Registration Offices of the Securities and Exchange Commission of Pakistan (SECP) will remain open till 8 pm today to facilitate the corporate sector. The SECP has also provided the facility for collection of returns and accounts, at the Chambers of Commerce and Industry, in Sialkot, Hyderabad, Gujranwala, Gujrat, Rawalpindi, Bahawalpur and Sheikhupura and its representatives will be present at these Chambers on Tuesday, said a press release. The last date for filing of annual returns on Form A/ B and annual audited accounts is November 30, for most companies that closed their accounts on June 30. The companies are required to file Forms A/B within 45 days in case of listed companies and 30 days in case of other companies of holding of annual general meetings (AGMs). The annual audited accounts are also to be filed within 30 days of AGMs. -APP
Top terrorist arrested from Khi KARACHI: A close friend of Tehreek-e-Taliban Swat Ameer Maulana Fazlullah and important terrorist commander Abdullah has been arrested along with his brother here on Monday. According to a private TV channel Abdullah Bin Sultan belongs from Koza Bonday area, Swat and he was incharge of a under construction Taliban centre in Imam Dhehri. With the army operation in Swat, Abdullah came to Karachi and went under ground, however his brother fled to Saudi Arabia and later he came to Karachi. Both brothers were living in house at unknown place of the city. On the tip of secret news security forces raided at the house and arrested both brothers. -Online
trade, the two countries do not have to pay each other in dollars, lessening the pressure on their foreign exchange reserves. "If you have anything in abundance we can trade. We have abundance of cement you have tea and other commodities that we can exchange." "We want to be friends forever," President Zardari told the Parliamentarians. President Zardari said "unlike the investors who come and take back their money, Pakistan is offering a win-win relation as it is the only way that is accept-
able to both the sides." The President mentioned a great sharing between the democracies of Pakistan and Sri Lanka, and said Pakistan admires Sri Lanka's long and honorable tradition of democratic rule. "It is my strong belief that our two democracies share a lot with each other. There is a lot that binds us," President Zardari said. President Zardari said Pakistan and Sri Lanka stood by each other in moments of trial and tribulation, as the two countries had a lot of common concerns and challenges.
He said it was time for Sri Lanka to adopt modern technology and make safer its cities as the threat of terrorism continues to haunt it, as it does to Pakistan. He mentioned that Pakistan too and his family were a victim of terrorism, but they remained undeterred and have countered it successfully. The President said he has directed the Minister of Defence to ensure that PIA comes to Sri Lanka so it enables Pakistani businessmen to invest in business which is better for both the countries. See # 4 Page 11
RAWALPINDI: Pakistan Peoples Party Monday suspended the party membership of Naheed Khan, political secretary to late Benazir Bhutto, over accusing party leadership of nepotism and cronyism. In an emergency meeting, held here under the chair of district president Amir Fida Paracha today, Naheed's membership was suspended after charging her with violating party discipline despite warnings. Amir told the media that Naheed has also been issued a show cause notice in this regard. See # 2 Page 11
Malik assures action against Hajj scam accused ISLAMABAD: Federal Interior Minister Rehman Malik Monday assured that strict action would be taken against those involved in Hajj scam. Talking to media here, he hoped that Saudi Arabia would cooperate with Pakistan regarding probe into the scam, adding that the President and the Prime Minister also ordered strict action. Rehman said that Zulfiqar Ali Bhutto made Pakistan a nuclear power and added that nuclear delivery system would be discouraged. Replying to a question about Wikileaks, he said that the Foreign Office would issue statement on it. He vowed to See # 3 Page 11
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Blasphemy Case
LHC stops Zardari from freeing Aasia LAHORE: Lahore High Court (LHC) Monday restrained President Zardari from pardoning death convict Aasia Bibi in blasphemy case and issued stay order in this regard. According to private television channels, LHC issued stay order on release of Aasia Bibi under Presidential order. It should be mentioned here that Aasia was recently sentenced to death for blasphemy. A petition filed at the LHC by Shahid Iqbal said Aasia Bibi's matter is subjudice; hence, the President is not authorised to give the reprieve. Aasia cannot be pardoned free until the judicial process is complete, the petitioner said. The LHC Chief Justice, issuing stay order, sought a reply
from the federal and provincial governments. In his petition, Advocate Shahid Iqbal argued that Governor Taseer termed Aasia as innocent notwithstanding the court penalty and asked President Zardari to pardon her, which is also against the law. Chief Justice LHC Khwaja Sharif heard the case and maintained that neither the Governor nor the President could pardon Aasia as her case is subjudice in the court and issued an adinterim order in this regard. The court also sought explanation from Governor Taseer and the Federation by Dec 06. Aasia was set upon by a mob, arrested by police and was sentenced on November 08 to be See # 1 Page 11
Nadra cancels NICs issued to Afghans ISLAMABAD: Federal Minster for States and Frontier Regions (SAFRON) Najmuddin Khan Monday said Nadra has cancelled 80,000 Computerised National Identification Cards (NICs) out of 100,000 which were illegally issued to Afghan refugees. "Remaining 20,000 will also be cancelled at the earliest after completing the required procedure," he said while talking to media at the Parliament House. He said the Ministry of Interior and Federal Investigation Agency (FIA) were investigating the matter and tracing the officials and public representatives who had attested Afghan refugees docu-
ments and played role in getting the illegal cards issued. Nadra had issued 100,000 NICs to Afghan refugees and they were enjoying Pakistani nationality and buying property in different parts of the country, he added. To a question, he said around 1.6 million Afghan refugees were staying in Pakistan under the temporary registration policy, adding that the government would issue a permit to them for doing business but will not give the rights to buy any property in the country. Najmuddin further stated that government will confiscate the property of those Afghan refugees who bought properties by using illegal NICs. -APP
Isb made no move in 26/11 case: report ISLAMABAD: Pakistani security agencies have made no progress in their pursuit of 20 people suspected of involvement in the 2008 attack on India's commercial capital Mumbai which killed 166 people, a senior security official said Monday. Pakistan has acknowledged that the attack was plotted and partly launched from its soil, and
has put on trial seven suspects linked to the Lashkar-e-Taiba (LeT) militant group, which was blamed for the attacks. But India says it is not satisfied with the pace of the Pakistani investigation and has demanded more people be put on trial for the attack, including the founder of the LeT, Hafiz Mohammad Saeed. A Pakistani newspaper
in its online edition said the counter-terrorism wing of a Pakistani federal agency has identified the 20 suspects as mostly LeT affiliates. "The new suspects had allegedly provided logistical and monetary support for the Mumbai attack," the newspaper said quoting a "classified report", two years after the attack. See # 5 Page 11
Swedish Commerce Minister calls on Fahim
EU tariff cuts to help economy, says Fahim ISLAMABAD: The EU decision to grant Pakistan tariff concessions on 75 tariff lines would help the country to revive the economy in post flood situation. This was stated by the Federal Minister for Commerce Makhdoom Amin Fahim while talking to his Swedish counterpart Eva Bjorling who met with the Minister along with a sixteen member trade delegation in the Ministry of Commerce on Monday. The flood devastation in Pakistan was of severe nature, and the Swedish government would help Pakistan in this
hour of need in sectors of infrastructure and rehabilitation, Eva Bjorling ensured to the Pakistani side. The delegation was told that Pakistan had a tremendous potential in wind energy sector, and coastal areas of Sind and Baluchistan are ideal for making investment by the Swedish companies. The visiting Minister showed interest to increase investment in areas of IT, power generation and energy. SAAB and Ericson are some of the Swedish companies which have already invested in Pakistan. See # 6 Page 11
Pak N-fuel kept US on toes: WikiLeaks ISLAMABAD: The United States has led top secret efforts to remove highly enriched uranium from Pakistan for years, worried it could be used to make an "illicit" nuclear device, according to leaked US cables. The New York Times said they were among quarter of a million confidential American diplomatic cables released by whistleblower WikiLeaks in what Pakistan condemned as an "irresponsible disclosure of sensitive official documents". The country's nuclear arsenal is one of the most sensitive topics for the United States as it tries to improve relations with the conservative Muslim nation on the front line in the campaign against al Qaeda and the Taliban.
Parts of Pakistan's northwest is gripped by a homegrown Taliban insurgency. Its semi-autonomous wild border area with Afghanistan is subject to a covert US drone war targeting Taliban and al Qaeda leaders. Militants embarked on a nationwide bombing campaign across Pakistan in 2007, the same year that the Times said the secret efforts began. In May 2009, it quoted then US ambassador Anne Patterson as saying that Pakistan was refusing to schedule a visit by American technical experts. The Times attributed the reason to a nameless Pakistani official who said: "If the local media got word of the fuel removal, 'they certainly would portray it See # 7 Page 11
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