International Karachi, Tuesday, August 2, 2011, Ramadan-ul-Mubarak 1, Pages 12 Vol No 5 Issue 1 Price Rs 12
Date exports rise to Rs4.1bn in nine months See on Page 12 Economic Indicators $18.30bn 13.92% $24.83bn $40.41bn $(15.59)bn $542mn $11.20bn $1.92bn Rs 1598bn $59.54bn Rs 5957bn $758mn -2.28% 4.20% $1,051 176.80mn
Forex Reserves (23-July-11) Inflation CPI% (Jul 10-Jun 11) Exports (Jul 10-Jun 11) Imports (Jul 10-Jun 11) Trade Balance (Jul 10-Jun 11) Current A/C (Jul 10-Jun 11) Remittances (Jul 10-Jun 11) Foreign Invest (Jul 10-Jun 11) Revenue (Jul 10-Jun 11) Foreign Debt (Mar 11) Domestic Debt (Jun 11) Repatriated Profit (Jul 10 - Jun 11) LSM Growth (May 11)
GDP Growth FY12E Per Capita Income FY10 Population
Portfolio Investment SCRA(U.S $ in million)
-46.49 -46.49 -3.90 2768
Yearly(Jul, 2011 up to 29-Jul-2011) Monthly(Jun, 2011 up to 29-Jul-2011) Daily (29-Jul-2011) Total Portfolio Invest (16-Jul-2011)
NCCPL (U.S $ in million)
FIPI (01-Aug-2011) Local Companies (01-Aug-2011) Banks / DFI (01-Aug-2011) Mutual Funds (01-Aug-2011) NBFC (01-Aug-2011) Local Investors (01-Aug-2011) Other Organization (01-Aug-2011)
1.07 3.31 -3.87 -1.07 0.41 -0.34 0.49
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,253.39 9,965.01 22,663.37 18,314.33 2,637.88 2,703.78 5,804.07 12,053.10
Change 63.02 131.98 223.12 117.13 18.18 2.05 11.12 90.14
GDR update $.Price PKR/Shares Symbols 112.46 MCB (1 GDR= 2 Shares) 2.60 151.48 OGDC (1 GDR= 10 Shares) 17.51 43.26 UBL (1 GDR= 4 Shares) 2.00 36.77 LUCK (1 GDR= 4 Shares) 1.70 39.55 HUBC (1 GDR= 25 Shares) 11.43
Money Market Update T-Bills (3 Mths) 27-Jul-2011 T-Bills (6 Mths) 27-Jul-2011 T-Bills (12 Mths) 27-Jul-2011 Discount Rate 30-Jul-2011 Kibor (1 Mth) 01-Aug-2011 Kibor (3 Mths) 01-Aug-2011 Kibor (6 Mths) 01-Aug-2011 Kibor (9 Mths) 01-Aug-2011 01-Aug-2011 Kibor (1 Yr) 01-Aug-2011 P.I.B (3 Yrs) 01-Aug-2011 P.I.B (5 Yrs) 01-Aug-2011 P.I.B (10 Yrs) 01-Aug-2011 P.I.B (15 Yrs) 01-Aug-2011 P.I.B (20 Yrs) 01-Aug-2011 P.I.B (30 Yrs)
13.53% 13.78% 13.92% 13.50% 13.41% 13.26% 13.37% 13.66% 13.73% 13.91% 13.92% 14.01% 14.24% 14.32% 14.41%
Commodities *Crude Oil (brent)$/bbl *Crude Oil (WTI)$/bbl *Cotton $/lb *Gold $/ozs *Silver $/ozs Malaysian Palm $ GOLD (NCEL) PKR KHI Cotton 40Kg PKR
117.55 96.01 101.59 1,629.50 39.65 1,049 45,158 5,894
Open Mkt Currency Rates Symbols
Buy (Rs)
Sell (Rs)
Australian $ 94.60 95.60 Canadian $ 90.00 91.20 Danish Krone 16.25 16.60 Euro 123.30 124.50 Hong Kong $ 10.85 11.00 Japanese Yen 1.100 1.128 Saudi Riyal 22.90 23.10 Singapore $ 71.25 72.25 Swedish Korona 13.40 13.60 Swiss Franc 100.00 101.00 U.A.E Dirham 23.40 23.60 UK Pound 141.00 142.30 US $ 86.10 86.45 Inter-Bank Currency Rates Symbols
Buying
Selling
TT Clean
TT & OD
Australian $ 95.45 95.68 Canadian $ 90.74 90.95 Danish Krone 16.68 16.72 Euro 124.26 124.55 Hong Kong $ 11.09 11.11 Japanese Yen 1.116 1.119 Saudi Riyal 23.04 23.09 Singapore $ 71.93 72.10 Swedish Korona 13.78 13.81 Swiss Franc 109.09 109.34 U.A.E Dirham 23.52 23.58 UK Pound 142.11 142.44 US $ 86.51 86.71 Weather Forecast Cities
Islamabad Karachi Lahore Faisalabad Quetta Rawalpindi
Max-Temp Min-Temp
35°C 35°C 33°C 34°C 37°C 36°C
20°C 29°C 29°C 30°C 15°C 20°C
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Qamar for more FDI in energy sector
See on Page 12
Govt obeys SC orders, but partially
See on Page 12
China blames Muslim extremists for attack
See on Page 12
Govt mulls slash in PSDP ISLAMABAD: Almost after a month, the government has decided to temporarily stop work on some Public Sector Development Programme (PSDP) 2011-12 projects in various departments. Planning Commission (PC) Deputy Chairman Nadeem-ulHaque told Online on Monday that the reason behind the decision to consider closing of certain projects is lack of resources and nothing else. "Meetings with various departments have been going
on since Saturday, however, so far nothing was finalised and no decision leading to close a particular project was finalised," he added. Sources in the PC said that those projects would be dropped on which less than 30 per cent work was done. For this end, the PC officials had started meetings with various departments including finance ministry, information ministry, Pakistan Railways and others, the sources informed. The meeting would
ADB advised not to lend Pak more TFD Report ISLAMABAD: Asian Development Bank was advised not to issue fresh loans for technical assistance to Pakistan owing to dismal performance of bank's as well as government's staff here. According to a report, the Asian lender expressed dissatisfaction over the previous performance of the sectors where it had issued grants for technical assistance. Bank also noted that its staff in Pakistan could have pointed out prior to unsuccessful completion of the funded projects so that the rest of the loan would have been cancelled accordingly to save lapses. Like, in August 2005 government of Pakistan borrowed $25 million grant under technical assistance from ADB but owing to inefficient manpower in its Planning and Development Department the funded project could not be completed suc-
cessfully. Sources said that bureaucratic mindset of P&D is the main hurdle in implementation of any foreign funded project which strictly calls for completion as per stipulated time. On the other hand, in every second foreign-funded project, government unwisely assigns the P&D as its executing agency which eventually brings on fiasco. The choice of P&D as the executing agency was a mistake. The PDD lacked qualified staff, access, and a track record. The setting up of new units to manage consultancy contracts does not work and should not have been proposed in the first place. The report recommends avoiding multitasking as the work would be difficult to manage and even more difficult to monitor. Project preparation could have been the sole focus of the loan, as capacity building is a different job altogether.
Lucky Cement to set up plant in Congo Aamir Abidi KARACHI: Lucky Cement Limited has decided to set up a green field cement manufacturing plan with a production capacity of one million tonne per annum in African country Democratic Republic of Congo. This project is a joint venture between Lucky Cement with a local partner subject to all regulatory / statutory approvals. The total cost of the project is estimated to $175 million which would be financed through 46 per cent equity to be contributed equally by both partners and 54 per cent debt which would be raised from multilateral institutions and international DFIs. Holding the 50 per cent share
in mind, Lucky Cement's share in equity and debt works out to $40 million (Rs3.5 billion) and $47 million (Rs4.1 billion) respectively. The technical and financial evaluation of the proposed project has been carried out both from international consultant and the team of experienced experts within the company. It is worth mentioning here that Democratic Republic of Congo is located in the central Africa, which offers easy entrance across African continent giving the project a geographic strategic advantage. This move would strengthen company's position in African continent and would pave a long term benefits for the shareholders of the company.
continue for next three days, they informed. Sources, however, said that the projects that are continuing for long and more than 30 per cent work on it was also completed would not be disturbed. It is pertinent to mention that war against terrorism, corruption, low tax collection and few other factors have badly affected ISLAMABAD: Foreign Minister Hina Rabbani Khar and her Polish counterpart Radoslaw Sikorski smile as they leave after a joint news conference at the foreign ministry in Islamabad. - Reuters Pakistan's economy affecting development in various sectors. - Online
MQM to rejoin govt in phases ISLAMABAD: The Muttahida Qaumi Movement (MQM) has once again decided to rejoin the government. Quoting sources, a private television channel reported that the decision was made after discussions between MQM Chief Altaf Hussain and Prime Minister Yousuf Raza Gilani. According to the reports the MQM will first become a part of the AJK government and will then rejoin the provincial and federal governments shortly afterward. On June 26, MQM had decided to part ways with the Pakistan People's Party and sit on opposition benches in the National Assembly, Senate and Sindh Assembly in protest against the postponement of election on two Karachi seats of the Azad Jammu and Kashmir Legislative Assembly. - NNI
10 Nato tankers burn in attack KHAIRPUR: At least ten Nato oil tankers were torched here on Monday morning while on their way from Karachi to Peshawar, police said. According to the details, the incident took place when unknown gunmen opened fire at a Nato supply convoy moving from Karachi to Peshawar. According to the eyewitness, the tankers were attacked when the drivers and crew were having tea at a roadside restaurant. Following the attack, the oil tankers caught fire and four people including three drivers were seriously injured. One hotel and three shops nearby the attack site also caught fire, said police. After the incident, fire brigades were called in to put off the fire. Police started the investigation of the incident. - NNI
President pushes to expedite Pak-EU engagement plan
ISLAMABAD: President Asif Ali Zardari on Monday emphasised upon the need for an early finalisation of Five-Year Engagement Plan between Pakistan and European Union. The President also said that Pakistan looked forward to holding of 3rd Pakistan EU Summit this year so as to carry forward the momentum generated by the previous two summits on one hand and to further advance progress on building strategic partnership of the two countries, on the other. President was talking to Rodoslaw Sikorski, Foreign Minister of Poland who called on him at Aiwan-e-Sadr here on Monday. He was accompanied by Dr Andrzej Ananicz, Ambassador of Poland, Lars Gunnar
Wigemark, Ambassador of European Union, and other officials of the Polish embassy. Pakistan side included Hina Rabbani Khar, Minister for Foreign Affairs, M Salman Farooqui, Secretary General to the President, spokesperson to the President Farhatullah Babar and other senior officials. Matters concerning PakPoland bilateral relations and need to further enhance multifaceted bilateral cooperation especially in the economic realm came under discussion during the meeting. Congratulating Poland and its government on assumption of presidency of European Union, the President wished them success during their presidency of European Union. Terming this period as
Amin eyes $40bn exports next year KARACHI: Federal Minister for Commerce Makhdoom Amin Fahim has said that the government will hopefully achieve the export target of $40 billion next year. "We have achieved our target of exports worth $25 billion with the help of the business community and would hopefully achieve our target next year as well with improved performance," he said. The federal minister said that multi-lateral talks were under-
way for the promotion of trade particularly with China, Central Asian States and other countries. The federal minister was addressing a ceremony organised here by Trade Development Authority of Pakistan (TDAP) to celebrate the achievement of $25 billion target. He said it was for the first time that Pakistan got good response on non-traditional exports particularly mangoes See # 10 Page 11
Karachi violence
6 vehicles, 50 bikes torched; 18 killed ISLAMABAD: At least 18 people were killed in different incidents of firing and torture within a day in Karachi while six vehicles and fifty motor cycles were torched in different areas of the city despite repeated tightened security claims by the provincial government. Two vehicles have been set on fire near Pakistan Quarters, Garden, while four others were burnt in other areas of the city by miscreants. On the other hands, 18 people
have been targeted in various areas of the metropolis. Unidentified gunmen torched fifty motor cycles in Ahsanabad Industrial zone near a textile factory. On the other side, unknown people set different places and machinery on fire including a marriage hall, motorcycle, car and several street vendor carts, while the law enforcement agencies were absent from the scene. See # 11 Page 11
extremely important for not only Pakistan-Poland relationship but also for building a long-term strategic partnership between Pakistan and the European Union, the President hoped that the spirit of cooperation existing between the two countries would serve to translate into a concrete plan of action in building a strategic equation. The President said that Pakistan was facing economic difficulties mainly due to war against extremism and EU's trade package for Pakistan would help to overcome economic difficulties before a revised Generalised System of Preference (GSP) plus takes effect in 2014. Appreciating proposed revision of the See # 3 Page 11
Bank holiday today
No Zakat on below Rs61,336 in account ISLAMABAD: No deduction of Zakat at source will be made, in case the amount is less than Rs61,336 in account on first day of Ramazan-ulMubarak 1433-AH. According to a notification issued by Ministry of Religious Affairs, Zakat Cell on Monday, no deduction of Zakat at source shall be made, in case the amount standing to the credit of an account in respect of the assets (amount) is less than Rs61,336 (Rupees sixty one thousand three hundred thirty six only) on the first day of Ramazan-ul-Mubarak, 1433 AH (2nd August, 2011), being the deduction date for such assets. The State Bank of Pakistan, all offices of the central bank's Banking Services Corporation (SBP BSC), banks, development finance institutions (DFIs) and microfinance banks (MFBs) will remain closed for public dealing on Ist Ramazanul-Mubarak, 1432 A H, which will be observed as bank holiday for deduction of Zakat. See # 4 Page 11
Gilani snubs clash among state organs ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani on Monday brushed aside the impression of any clash between the parliament and the judiciary and said the government respected the judiciary and implemented its decisions. Speaking in the National Assembly, he said we will not
allow anyone to come into power through turncoats and those who think about their turn in case of any clash between the judiciary and government or waiting for a miracle should be mindful of the fact that it will not happen. The Prime Minister said such stories were published in the press that the government
would bring a resolution in the parliament against the judiciary and expressed sorrow over it that when the Supreme Court announced its decision regarding the case, there was no justification for such kind of speculations over the issue. "How can a government which restored the 1973 constitution in its original form and
its leadership struggled for restoration of judiciary would not respect the judiciary," the Prime Minister said. He said framing the Constitution was the job of the parliament while the judiciary makes its interpretation, the Prime Minister said and added trichotomy of powers rests with the parliament, executive and judiciary.
The Prime Minister said that transfers and postings was the prerogative of the chief executive and added that the Supreme Court's verdict has raised the stature of the Parliament and Judiciary. Prime Minister Gilani said that "our government had always implemented the decisions of the Supreme Court in
letter and spirit, adding, whether it was the NICL, NRO, NAB, PCO judges cases or the case of reverting of 54 federal secretaries, we always respected the apex court's orders and never went for appeal". He said that the senior most judge of the Supreme Court Justice Javed Iqbal has See # 5 Page 11
2
Tuesday, August 2, 2011
Ahead of Ramazan
Sindh CM reviews price control steps
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah presiding over meeting regarding Commissionerate System and to control price hike during Holy month of Ramazan at CM House. -APP
OGDC appoints new acting MD Staff Reporter KARACHI: Basharat A. Mirza has been appointed as Acting Managing Director and CEO of Oil and Gas Development Authority (OGDC). According to a communiqué sent to KSE here Monday, he will replace Asif Saeed Sindhu, who resigned from the post of acting managing director of the company.
Sanyo home-items trade goes to Haier KARACHI: Haier Group Corporation and Sanyo Electric Co on Monday signed a Memorandum of Understanding, setting out the terms regarding Haier's intention to acquire Sanyo's refrigerator, washing machine and other con-
Sanyo Electric's refrigerator and washing machine business, as well as the sales and service business of Sanyo Electric consumer electric appliances in the above countries. "The announcement has laid the foundation for
completion of this important milestone for both companies," said Du Jingguo, Vice President of Haier Group. Mitsuru Homma, Executive Vice President of Sanyo Electric Co commented, "Through the transfer of our washing
Gold eases to Rs44,742 per 10gm KARACHI: Gold dropped by Rs 172 to ease at Rs 44,742 per 10 grams in the local market Monday, as its international price closed lower at $1,616 an ounce, market sources said. According to Karachi Sarraf Association, bullion's tola (11.664 grams) price also slipped by Rs 200 to Rs 52,200. However, silver closed higher at Rs 1,062.85 per 10 grams. -APP
Ebad asks KESC to curtail load shedding duration KARACHI: Sindh Governor Dr Ishrat-ulEbad Khan has asked the KESC officials to ensure reduction in the duration of loadshedding in the city during Ramazan. KESC authorities have consequently assured the Governor that minimum possible loadshedding will be resorted to during the holy month, with provision for no power disruption in "No- Loss Areas." They informed that in Medium Loss Areas the duration would be three hours, one hour at a time, during 24 hours. In High Loss Areas, the duration could be a little longer. -APP
PSO revises furnace oil prices ISLAMABAD: Pakistan State Oil (PSO) has announced an upward revision of the per ton price of furnace oil, a private TV channel reported. Spokesman of PSO in a media talk said that the per ton price of furnace oil has been revised upward by Rs3000 taking the new price in the range of Rs72, 042 to Rs76,268 per ton. -APP
sumer electric appliances business in Japan, Indonesia, Malaysia, the Philippines and Vietnam. The acquisition will cover the research and development (R&D) and manufacturing facilities of
Haier's strategic structure in Japan and South East Asia with two R&D centers, four manufacturing bases and six localized marketing centers. We look forward to working with SANYO Electric's team for the successful
machine and consumer refrigerator businesses to the Haier Group, we will secure employment opportunities of the employees engaged in the businesses and ensure the continuity of the business. -PR
DHL provides ‘green services’ KARACHI: DHL Global Forwarding, Freight, one of the leading provider of global air and ocean freight and road freight services, has launched a new service for carbon emissions tracking, the GOGREEN Carbon Dashboard. Customers can choose from a variety of certified reports to better understand the main drivers of carbon emissions from the various transport modes involved including pickup and delivery emissions in their supply
TV PROGRAMMES TUESDAY Time Programmes 3:05 5:00 7:00 8:00 9:05 11:00 11:05 12:00 13:05 14:00 14:05 15:00 16:00 17:30 18:00 18:30 19:30 20:03 21:00 22:03 23:00 23:05
Subah Sehri Maya ke Sath News News News SubahSehriMayakeSath(Rpt) News Tafteesh (Rpt) News Newsbeat (Rpt) News Tonight With Jasmeen (Rpt) News News Aap Ki Baat News Iftaar Ka Samaa Crime Scene Newsbeat News Tonight With Jasmeen News Mutsareen
chain. It helps account for and manage carbon emissions, including third party emissions, with detailed and reliable CO2 mapping available instantly from a webbased hub. "Up to 50% of the carbon footprint of a product comes from the supply chain. DHL Global Forwarding, Freight now offers its customers a best-in-class tool to gain transparency on the carbon efficiency within their supply chain, says Kathrin Brost, Kathrin
Brost, Vice President, DHL Global Forwarding, Freight Green Strategy. The Carbon Dashboard ensures a standard calculation approach and treats CO2 as an integrated business parameter, putting it into relation with other supply chain parameters such as volumes shipped, product density and trade lane efficiency. It also enables them to dry run various carbon reduction scenarios using real data, and explore the effectiveness of different optimization levers. -PR
KARACHI: Sindh Chief Minister, Syed Qaim Ali Shah on Monday chaired a meeting to review measures taken to control price hike of essential goods during Ramazan. The Chief Minister on the occasion also expressed his displeasure about reported raise in the prices of certain essential items by some traders and wholesalers. The hike was reported to have been made in the cost of edible oil, ghee, sugar,
Rupee at record low on dollar demand
LAHORE: SAP Pakistan introduces Business Intelligence solutions especially aimed for Small and Medium Enterprises (SMEs). SAP has been named the overall market share leader in the world-wide BI market, owning nearly a quarter of the market according to the April 2011 report issued by Gartner Inc. "Market Share Analysis: Business Intelligence (BI), Analytics and P e r f o r m a n c e Management, 2010, World-wide." In the report, SAP ranks No 1 with 23 percent share of the world-wide market based on revenue. Countries in the Southeast Asian region have huge communities of small-tomedium scale enterprises (SMEs), many of whom employ thousands of workers and contribute to their GDP. Hassan Jamal, Country Liaison Manager, SAP Pakistan said that despite
PCDMA for withdrawal of facilities in ST returns
KARACHI: Pakistan and Turkey are two brother states, but the ties between the two countries have been strengthen further during last 3 to 4 years," this was stated by Consul General of UAE Suhail Bin Matar Al Ketbi, at reception in honor of outgoing Consul General of Turkey to Pakistan Fethi Etem. The UAE Consul General, said that today we are here to say goodbye to our another dear colleague Fethi Etem, Consul General of Turkey, who has been with us for nearly 3 years, Suhail, said, adding that Turkey is a country, which has close ties with Pakistan not from today
KARACHI: Chairman, Pakistan Chemicals and Dyes Merchants Association Muhammad Haroon Agar has expressed reservations over the changes made by Federal Bureau of Revenue in the rules and procedures regarding submission of monthly salestax returns through an amendment notification. In his statement here on Monday, Haroon Agar maintained that the business community will not support the amendments which they fear will create problems for them in running theirbusinesses. Debit Gold cardholders He called for withdrawal at a spending of between of the notification. -APP PKR 3000 to PKR 10,000 every month. Speaking on the occasion, Anwar Lutfullah, Group Head Operations, Summit Bank said, "The launch of our VISA Debit Cards and the many accompanying benefits A are a reflection of how ISLAMABAD: of committed we are to our Memorandum Understanding (MoU) has customers." Talking about the been signed here Monday launch "Akhuwat launch of Summit Bank's to VISA Debit Cards, Syed NAVTTC Interest free Haider Rizvi, Head of loans programme" and Consumer Banking said, allocated Rs. 10 millions "We are very excited to for this scheme. Interest Free Loan upto bring our VISA Debit Cards to the palms of our Rs.50, 000 will be provided valuable clients and cus- to NAVTTC trainee, says a press release here. -APP tomers." -PR
It was also decided that the Assistant Commissioners and Mukhtiarkars throughout the provinces will monitor and control the prices within their jurisdiction of authority. The government has also posted special magistrates in the province who would pay surprise visits to the markets so as to ensure implementation of the officially fixed prices of essential goods. The meeting was also
attended by Sindh Law Minister, Mohammad Ayaz Soomro, Chief Secretary, Raja Mohammad Abbas, Additional Chief Secretary Home, Waseem Ahmed, Senior Member of Board of Revenue, Ghulam Ali Pasha, Sindh Advocate General Abdul Fatah Malik Law Secretary Syed Ghulam Nabi Shah Secretary to CM, Alamuddin Bullo and Additional Secretary, Ali Hasan Brohi. -APP
SAP offers Business Intelligence for SMEs
KARACHI: The Pakistani rupee fell on Monday to hit a record low, thanks to strong dollar demand for oil import payments amid soft inflows. Dealers said they expect the local unit to stay under pressure for now. The rupee closed at 86.75/80 to the dollar -- its weakest ever closing -down from 86.54/60 on Saturday. The previous weakest close by the rupee was 86.56/58 on Wednesday. "The market was already short of dollars after the sharp rise in demand last week, mainly for oil import payments," said a dealer at a foreign bank. "There were oil payments worth at least $70 million on Monday, and dollar inflows were soft, which push the rupee further lower," he said. Dealers said dollar payments are typically higher in July and August because of stronger oil demand and debt payments. As well as oil payments, the International Monetary Fund's (IMF) stalled aid programme to Pakistan is also weighing the rupee down. A cut in the key policy rate by the central bank over the weekend was also likely to accelerate the rupee's slide, said another dealer at a major local bank. - Reuters
Summit Bank unveils VISA Debit Cards KARACHI: Summit Bank announced the launch of Summit VISA Debit Card and Summit VISA Debit Gold Card during a press conference. Both the Cards are free for all Summit Bank account holders and offer incredible discounts. They come with the cashless ease and convenience, like never before. Summit Bank's VISA Debit Cards offer unparalleled discounts at over 100 shopping and leisure outlets. Whereas, Summit VISA Debit Gold Card offers an additional facility of 5 per cent cash back to all Summit VISA
pulses, fruit and certain other items. Syed Qaim Ali Shah ordered the concerned departments to take strict action against traders involved in hoarding and illegal profiteering. The meeting decided that the Divisional Commissioners and Deputy Commissioners of all districts, being controllers, would fix the prices of such items under Essential Commodities Price Act 2006.
LAHORE: (R-L) Hassan Jamal, Country Liaison Manager-SAP Pakistan, Nitin Gangla, Director, Indirect Channel Business-SAP Asia and Aamir Raza, Director of Business North - SAP Pakistan can be seen at the launch of Business Intelligence Solutions for Small and Medium Enterprises.
their huge numbers and contribution to their respective country's GDP, SMEs have yet to largely tap information technology (IT) to improve their business. "Many SMEs are using a computer just to run the company's operational activities of everyday life, whereas the SME business people can use IT to
forecast and even encourage the growth of their businesses forward." Meanwhile Nitin Gangla, Director, Indirect Channel Business SAP Asia explained: "Business intelligence or BI refers to an IT-based process of collecting, analysing and forecasting company performance based on past, raw data." -PR
Farewell given to Turkish CG Staff Reporter
but from last many decades." "The relationships between these to brotherly countries have been strengthening from last 3 to 4 years and it would grow further after Turkish Prime Minister Recep Tayyip Erdogan visited the flood-hit regions in Pakistan and launched aid
campaigns there. "Red Crescent of Turkey played pivotal role for rehabilitation of flood affected people in Pakistan," he lauded. He said the two brotherly states have signed numbers of MoUs in recent years for economic cooperation, agriculture sector and investment.
Afzal Memorial Thalassemia Foundation
MoU inked to launch loan scheme
KARACHI: Saeed Shafiq, President KCCI, Ateeq-ur Rehman and Rehan Hanif of KCCI, Dr Asim Qidwai CEO AMTF, Nusratullah Khan UBL Ameen, Naeem Qureshi, Zaki Ahmed, Maulana Abdul Sattar Rehmani & others during the inaugration of Thalassemia Diagnostic Machine at AMTF. (Afzal Memorial Thalassemia Foundation). -Staff Photo
3
Tuesday, August 2, 2011
Dollar reverses gains against Swiss franc, hits record low Risk of ratings downgrade ignites more dollar selling LONDON: The dollar hit a record low against the safe-haven Swiss franc on Monday, reversing earlier gains on investor concerns that a deal to raise the US borrowing limit would not be enough to avoid a downgrade to the country's triple-A credit rating. After weeks of discord, US lawmakers looked likely to pass a deal to raise the debt ceiling, avoiding a default, and cut about $2.4 trillion from the deficit over the next decade, prompting many in the market to unwind bearish bets on the dollar taken out in recent weeks. However, investors resumed dollar selling on concerns that ratings agencies may consider the planned deficit cuts would not be sufficient for the United States to improve its fiscal position. "The debt ceiling deal needed to be done, so this is not a cause for rejoicing and it is not a win situation for the dol-
lar as there is still a good chance of a ratings downgrade," said Steve Barrow, head of G10 currency research at Standard Bank. After tepid second quarter US growth figures on Friday, concerns about the economic outlook also weighed on dollar sentiment. The dollar fell 0.5 per cent versus the Swiss franc to 0.78153 francs on EBS trading platform, well below last week's record low just above 0.7850 francs. Traders cited selling by real money accounts, which pushed it well off the day's high around 0.7954 francs, as well as selling by a US investment bank. Broad demand for the Swiss currency also pushed the euro to a fresh record
low of 1.12628 on EBS. Against the yen, the dollar traded 0.2 per cent higher at 76.88 yen, well below an earlier high of 78.05 yen and very
close to a four-month low of 76.70 yen hit last week. A move below there would leave it poised to test its all-time trough of 76.25 yen. Further yen appreciation would keep investors wary that Japanese authorities -- which have argued against a rising currency -- may take action to curb yen strength. The prospect of a deal to avoid a US
default helped appetite for risk, however, prodding the euro up 0.1 per cent against the dollar to $1.4412. The growth-linked Australian dollar rose 0.6 per cent on the day to $1.1053, close to a multi-year high of $1.1081, while the New Zealand dollar hovered close to a 30-year high hit in Asian trade. Despite the mild rally in the dollar versus safe-haven currencies, traders pointed out that the greenback's recovery had been relatively limited given that it fell nearly 7 per cent versus the franc and 3.5 per cent against the yen last month. The latest IMM data shows net short positions in the dollar held by speculators jumped last week, to a value of $25.42 billion according to Reuters calculations. Analysts said this was the biggest net short position since early May. -Reuters
Yuan hits record Won, peso at 3-yr highs on high, up 6.1pc US debt deal, good data since depegging Hedge funds, interbank specs demand lift Asian FX
Top Economic Events Time
Source
Events
Forecast
12:30am
AUD
Cash Rate
4.75%
12:30am
AUD
RBA Rate Statement
2:30am
AUD
Commodity Prices y/y
3:15am
CHF
Retail Sales y/y
1.6%
3:30am
CHF
SVME PMI
52.3
4:30am
GBP
Construction PMI
53.2
53.6
5:00am
EUR
PPI m/m
0.1%
-0.2%
8:30am
USD
Core PCE Price Index m/m
0.2%
0.3%
8:30am
USD
Personal Spending m/m
0.2%
0.0%
8:30am
USD
Personal Income m/m
0.3%
0.3%
All Day
USD
Total Vehicle Sales
11.9M
11.5M
7:01pm
GBP
BRC Shop Price Index y/y
7:30pm
AUD
AIG Services Index
9:30pm
AUD
Retail Sales m/m
0.4%
-0.6%
9:30pm
AUD
Trade Balance
2.23B
2.33B
Source
Events
CHF EUR EUR GBP EUR CAD USD USD USD NZD JPY AUD AUD JPY
Bank Holiday Final Manufacturing PMI 50.4 Italian Monthly Unemployment Rate 8.0% Manufacturing PMI 49.1 Unemployment Rate 9.9% Bank Holiday ISM Manufacturing PMI 50.9 Construction Spending m/m 0.2% ISM Manufacturing Prices 59.0 Labor Cost Index q/q Monetary Base y/y Building Approvals m/m HPI q/q Average Cash Earnings y/y
far more strongly than expected in July, suggesting the region's economic growth remain solid, while inflation in Asia's fourth-largest economy rose faster than expected, adding to pressure on Seoul to raise interest rates. With Monday's data, macro funds appeared to show interest in emerging Asian currencies, analysts said. Emerging Asian currencies have enjoyed inflows on the region's healthier fundamentals, without major fiscal problems being created, although gains have been contained on risk aversion amid worries about global debt woes. The won hit a near three-year high against the dollar as local interbank speculators and some offshore investors bought it. Foreign investors turned into net buyers of Seoul shares, ending a five-session selling streak. The foreign exchange authorities were spotted buying dollars to defend 1,049 per dollar during the session and to force the South Korean currency to end local trade weaker than 1,050, dealers said. But the local currency is expected to strengthen further, dealers said. "Dollar/won is falling not because of heavy supplies but because of lack of demand, indicating investors expect further falls," said a senior dealer
of local bank in Seoul. "We may see 1,030 in a near term and even levels below 1,000 by the end of this year." Foreign banks' demand for the peso intensified as the Philippine currency strengthened past a psychological resistance of 42.00 per dollar, which the central bank had been spotted defending. That helped the peso hit its strongest since April 2008. The central bank was spotted buying dollars from 42.00 to 41.90, but their dollar bids were not that strong, dealers said. Earlier, Amando Tetangco, governor of the Philippine central bank (BSP), said the country expects sustained strong capital inflows to emerging markets, given weakness in developed economies, but said authorities have enough tools to deal with a potential increase in domestic liquidity. "From here, I think the market is looking to sell on rallies as USD/PHP has a potential to test 41.50 as the USD/PHP broke through the 42.00 psychological support level," said a European bank dealer in Manila. But the pair would be supported at 41.75-41.80 on BSP's intervention and as investors are waiting for details of US debt deals, the dealer added. Foreign investors bought Manila stocks for the third consecutive session. -Reuters
Franc dips against dollar on US debt deal ZURICH: After hitting a record low, the American dollar recovered slightly against the Swiss franc on Monday, following news that Washington lawmakers have agreed on a deal to raise the US debt limit. The greenback was trading at around 0.79 francs on foreign exchange markets. The dollar is not expected to regain much ground against the strong Swiss currency however, as many analysts believe that credit
and 2.42 per cent so far this year. Before trade began the PBOC fixed the yuan's midpoint at a record high of 6.4399 against the dollar, stronger than last Friday's 6.4442. Dealers also said that the expectation of higher consumer prices in July could prompt the central bank to quicken the pace of yuan appreciation, a way of curbing stubbornly high inflation. The central bank on Monday said it would keep using a range of policy tools, including interest rates and foreign exchange rates to tame still strong inflation. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards (NDFs) were bid at 6.3660 in late trade, firmer than 6.3820 at the previous day's close. Their implied yuan appreciation in a year's time rose to 1.16 per cent from 1.00 per cent. -Reuters
Stg falls on weak UK PMI, slide in risk adds to pain
LONDON: Sterling fell broadly on Monday after data showed UK manufacturing activity shrank in July for the first time in two years, a reminder of the difficulties the UK economy faces which are likely to keep the currency on the ropes. Traders said the pound came under further pressure in afternoon dealing as safe-haven news from China, a major trading partner for currencies such as the Swiss both economies. franc and the yen outperformed The kiwi last traded around $0.8814 compared with the $0.8786 close in New York on Friday, with support at the tenkan line of $0.8680 and resistance at $0.8878, the upper 21-day Bollinger band. The Australian dollar, last at $1.1043, was seen supported at $1.0950 before major support at $1.0890. Strong resistance is pegged at its 29-year high of $1.1081 ahead of $1.1200. Both kiwi and Aussie jumped about 1 per cent against a stressed yen. The kiwi shot up to a 15- in thin trade. Gilt futures rallied as month peak of 68.88 yen, while the Aussie investors pushed back the climbed to 86.16 yen. chances of a UK interest rate The New Zealand dollar also posted solid hike even further following the gains against the euro and pound. The euro UK data, with some increasdived to a 14-year trough of NZ$1.6243, while ingly looking for more monethe pound sank to an all-time low of NZ$1.8553. tary stimulus if data continues The Aussie underperformed the kiwi, briefly to deteriorate. touching a one-year low at NZ$1.2461, before Investors are now almost recovering some ground to last stand at fully pricing in a quarter perNZ$1.2505. -Reuters centage point rate hike in December 2012, whereas late last month they expected a rate rise in November 2012. "Last week's UK GDP estimate may have skewed markets into thinking the economy was in better shape, but any expectations of a bounce back ratings agencies could downgrade US governin growth look to be mistaken," ment debt as early as this week. said Lee Hardman, currency Swiss Economy Minister Johann Schneider- strategist at BTM-UFJ. Ammann said over the weekend that the "Some speculators estabfranc's strength against the euro and the dollar lished sterling longs last week is more than a temporary phenomenon in but I just can't see legs in that Switzerland. trade," he added. He warned of "extremely tough years" Data from the Commodity ahead for Swiss exporters and the tourism Futures Trading Commission industry. -Agencies showed speculators had gone
NZD, Aussie buoyed by US debt deal, China PMI SYDNEY: The New Zealand dollar scaled a fresh 30-year peak on Monday, while the Aussie climbed against the US dollar after President Barack Obama announced that congressional leaders had reached an agreement to avert a debt default. The news bolstered risk appetite with commodity currencies gaining the most, though it was still not clear if the spending cuts were deep enough to stave off a credit rating downgrade. 'We would be very cautious though, given we're still awaiting details of this fiscal consolidation plan out of the US,' said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong. The kiwi hit a high of $0.8842, a level last seen in mid-may 1981, when the exchange rate was controlled by the central bank, while the Aussie gained 0.5 per cent to a session peak of $1.1060, very near its 29-year summit. China's purchasing managing index (PMI) data also supported the Antipodeans' performance with numbers not as weak as some had feared. Both the Aussie and kiwi are sensitive to
BEIJING/SHANGHAI: The yuan closed up against the dollar after hitting a record trading high on Monday, as the People's Bank of China set an all-time high mid-point fixing, following the sinking dollar index. "It seems that the central bank intends to take advantage of the weakening dollar to nudge its currency up further in the short-term," said a trader at a medium-sized bank in Shenzhen. "The impasse on whether to raise the US debt ceiling adds uncertainties on the dollar, sharply cutting market demand for the dollar and would continue to push the yuan up in the coming days," he added. Spot yuan closed at 6.4340 versus the dollar, stronger than Friday's close of 6.4366. In intraday trading, the currency hit an all-time high of 6.4336. It has now appreciated 6.10 per cent since it was depegged from the dollar in June 2010
slightly long on sterling in the week to July 26, swinging from short bets a week before. Overall, currency speculators had increased bets against the dollar as political wrangling over an increase in the US debt ceiling weighed. The disappointing data added to calls by some market players that more quantitative easing (QE) may be needed to revive sluggish growth in the UK economy.
"So far the bar for more QE is very high, but we wouldn't rule it out if we get a continuing softening in the economic data over a couple more months," said Victoria Cadman, economist at Investec. Sterling fell to as low as $1.6284 against the dollar in afternoon trade, having earlier hit a two-month high of $1.6477 when riskier assets staged a relief rally after US President Barack Obama said a deal to raise the US borrowing limit had been agreed. That optimism faded into the US session as investors stayed on edge over a possible downgrade to the US sovereign debt rating, pushing them increasingly towards safe-haven currencies such as the Swiss franc and the yen. Sterling hit a fresh record low against the franc around 1.2589 francs and was down 1.6 per cent at 124.77 yen, a four-month low. -Reuters
4.75% 28.2% -4.1% 53.4
2.9% 48.5
Previous Day Actual
Asian currencies
SINGAPORE: The South Korean won and Philippine peso raced to three-year peaks on Monday as hedge funds continued to buy emerging Asian currencies on optimism the US debt crisis has been resolved and data showing strong economic growth in the region. On Monday morning Asia time, President Barack Obama announced a last-minute deal to raise the US borrowing limit to avert a catastrophic default. The announcement boosted riskier assets such as stocks The deal still needs to get approval from lawmakers and does not guarantee that rating agencies will maintain the US' triple-A credit rating. Despite risks of a downgrade, emerging Asian currencies are expected to stay firm on stronger economic fundamentals and policymakers' inflation fighting, analysts and dealers said. A rating cut may cause some profit-taking from the regional units, but the corrections would be very temporary, they added. China's factories had their lowest activity in 28 months, data showed earlier, but this should reduce worry about the possibility of a hard landing in the world's second-largest economy. China's central bank also said it would keep fighting inflation as a policy priority. South Korean exports grew
Previous
Forecast
Previous
50.4 8.0% 51.1 9.9%
50.4 8.1% 51.4 9.9%
55.0 -0.1% 64.4 0.5% 18.1% 2.6% -0.9% 0.4%
55.3 0.3% 68.0 0.4% 17.0% -7.9% -1.7% 1.0%
Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.4273 1.4455 0.7779 0.7950 1.6296 1.6474 0.9589 0.9592 1.0985 1.1064 109.36 112.22 0.8758 0.8804 1.1107 1.1451 124.91 128.49 98.50 99.13 1623.90 1627.50
Bid 1.4271 0.7775 1.6292 0.9585 1.0980 109.30 0.8756 1.1102 124.81 98.45 1623.69
Low 1.4261 0.7731 1.6269 0.9493 1.0968 108.85 0.8734 1.1031 124.24 97.15 1607.70
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada
9/7/2011
9/8/2010
Current
Bank of England
8/4/2011
3/5/2009
0.50%
Bank of Japan
8/5/2011
12/19/2008
0.10%
Interest Rate
European Central Bank
1%
8/4/2011
7/7/2011
1.50%
Federal Reserve
8/9/2011
12/16/2008
0.25%
Swiss National Bank
9/15/2011
3/12/2009
0.25%
The Reserve Bank of Australia
8/2/2011
11/2/2010
4.75%
Division of National Bank of Pakistan (NBP) KARACHI, August 1,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A
86.60
U.K
142.44
142.11
141.72
EURO
124.55
124.26
123.90
CANADA
90.95
86.40
90.74
86.18
90.50
SWITZERLAND
109.34
109.09
108.80
AUSTRALIA
95.68
95.45
95.20
SWEDEN
13.81
13.78
JAPAN
1.12
1.11
1.11
NORWAY
16.10
16.07
16.02
SINGAPORE
72.10
71.93
71.74
DENMARK
16.72
16.68
16.64
SAUDI ARABIA
23.09
23.04
HONGKONG
11.11
11.09
11.06
KUWAIT
317.48
316.75
315.92
MALAYSIA
29.42
29.35
29.28
NEWZEALAND
76.44
76.26
76.06
QATAR
23.78
23.73
23.67
U.A.E
23.58
23.52
23.46
13.74
22.98
KR. WON
0.08
0.08
0.08
THAILAND
2.91
2.90
2.90
Indian rupee up; dlr buys for oil dues weigh MUMBAI: The Indian rupee gained on Monday as the US debt deal on late Sunday evening stoked risk appetite and propelled equity markets higher globally along with most Asian currencies, but dollar buying for Iran oil dues capped the rupee's rise. The partially convertible rupee ended at 44.07/08 per dollar, 0.3 per cent stronger from Friday's 44.185/195 close. "Bias of the rupee is towards strengthening. The upside (resistance for rupee) could be at 43.90 as scope for the euro's rise seems limited. But the downside (support for rupee) could be 44.20 due to exporters," said Naveen Raghuvanshi, an associate vice president at Development Credit Bank. Dollar buying by stateowned banks for settling India's dues to Tehran for oil supplies could impact the quantum of the rupee's rise, traders said. "We need to see in what quantum the dollar buying for the oil payment takes place. If the tranches are large, it could drag on the rupee," a foreign exchange dealer with a private-sector bank said. On Sunday, Iran Oil Ministry said the payment
row has been resolved. Robust outlook on dollar inflows following signs of easing US debt crisis and the RBI's hefty rate increase last week is expected to hold up the rupee against significant weakening pressure. In July, foreign funds purchased $1.67 billion worth of local shares and $526 million of debt securities, data from the Securities and Exchange Board of India showed. Indian shares started August on a positive note and snapped a four-session decline, rallying 0.6 per cent on Monday. The one-month onshore forward premium was at 23.75 points from 24 on Friday, while the three-month was at 66.50 points from 72.25 and the one-year was at 220.50 points from 240. One-month offshore nondeliverable forward contracts were quoted at 44.18, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange were at 44.2525, 44.2550 and 44.2600, respectively. The total volume stood at $10.37 billion. -Reuters
4
Tuesday, August 2, 2011
The Financial Daily International Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board
Utilising e-commerce efficiently By Faizan Usmani
E
lectronic commerce (e-commerce) has not seen any recesHaseeb Khan, FCA S. Muneer Hussain Rizvi sion since its introduction in Asim Abbas Ashary, CPA Khurram Shehzad, CFA the modern world. While rest Akhtar M. Zaidi, FCA of the world including China, India and Prof. Zakaria Sajid (KU) Dr. A. Hadi Shahid, FCA Zahid Bukhari SVP HBL (retd) Bangladesh etc. make the most of ecommerce and World Wide Web, it is Muhammad Arif Ismat Sabir yet in infancy stage in Pakistan unforHead office tunately. No doubt, our local traders 111-C, Jami Commercial Street 11, Phase VII, DHA Karachi know about e-commerce but they are Telephone: 92-21-35311893-6 Fax: 92-21-35388428 still hesitant in utilising it due to lack of URL: www.thefinancialdaily.com knowledge and education. Especially Email Address: editor@thefinancialdaily.com after the arrival of most advanced Lahore office mobile phone applications and web 24- Peshawar Block, Fortress Stadium, Lahore tools, e-commerce is becoming more Telephone: 92-42-6675595 Fax: 92-42-6664349 advanced and complex, which, defiEmail Address: editor@thefinancialdaily.com nitely requires a certain set of skills to utilize in order to greatly benefit from this fastest mode of conducting businesses and trading. We not only need static websites and web pages to take advantages of the ecommerce. For this purpose, our local businessmen and traders need to prepare strategies to boost sales and marketing online. e-commerce is neither rocket science nor as easy as ABC. Similarly, online commerce is so vibrant and agile beyond one's simple All the commitments made by the political parties, calculations or expectations and it really takes a wise man to understand the deployment of additional law enforcing personnel scope offered by the online sales and and ‘Peace Rallies’ have failed in restoring peace in marketing. Awareness is the key but just knowKarachi. In fact the situation is going from bad to ing the phenomenon can't bring excepworse because of indiscriminate killing and burn- tional results. One should be smart to deploy exclusive e-coming of private and public property. Whatever is hap- enough merce applications along with workpening in the city seems to be part of conspiracy to able sales and marketing techniques in a way that brings success. But for this, plunge the city into complete anarchy. one requires exceptional level of attenAccording to a report the total killing in Karachi tion and concentration as success does-
Ongoing killing in Karachi
exceeded 300 during the month of July. On the first day of August around 20 people have been killed. The killers have such an elaborate plan that law enforcing agencies seem completely helpless. When deployment is made in an area, the killers move to another. Police and Rangers look like sitting ducks and killers rule the city. The threat seems enormous with the commencement of Holy month of Ramadan, particularly during Taraweh when large number of people assembles in mosques. People can still recall the horrendous killing of prayers in the past. The followers of various sects were killed indiscriminately. One can still recall that the citizens were scared to go to the mosques to perform the rituals. Till recently the assassinators were killing people while on the move, then came hijacking of mini buses and killing of the occupants. Now the killers enter houses, kill the residents and burn the houses and shops. People have started migrating to other areas but no locality seems safe. Burning and looting of industrial units is on the rise and people are getting jittery. It is on record that on the eve of assassination of Benazir Bhutto hundred of vehicles and dozens of industrial and commercial establishments were reduced to ashes within few hours. There is growing perception that the perpetrators have established safe havens in almost every nook and corner of the city. In fact they kill dozens of people and burn as many properties as they like in a few minutes. Worst traffic jams add to the losses because the law enforcing personnel and fire tenders can't move swiftly. Though one hates to say, the time has come to initiate grand operation clean-up in Karachi. However, it has to be conducted at a very fast speed and without announcing any deadline. It is feared that the perpetrators have installed their agents who provide prior information allowing the criminals to move from one to another area and law enforcing personnel keep on following the shadows. Despite tall claims law enforcing people have not succeeded in rounding up the criminals. Even if a few were caught those were acquitted because of lack of evidence. One seems to agree with one of the conspiracy theories that intelligence agencies of some of the foreign countries are fully operative in Pakistan. They have a common objective, destroy Pakistan and some of the local groups are playing as their cohorts.
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.
n't some so easily on the web as well. There are many web portals and websites offering lots of effective business tools and virtual ways to generate profit in a reasonable span of time. Thus, it is mandatory for the local businessmen and SME's to join this type of global communities to mark their own presence felt globally. In order to boost sales and marketing online, we need planning and strategies that widely support result-oriented and profit-making e-commerce activities. And for this purpose, we should get maximum awareness about e-commerce and its numerous tools which help in building a perfect ecommerce infrastructure on the web while offering many offline ways to make a real difference. Search Engine Optimization (SEO) is one of the most effective and essential tools utilized by successful companies to boost up their entire online sales and marketing initiatives. SEO doesn't work by chance. It's more than changing the keywords once in a while, and then waits for the lady luck to bring the entire fortune on your doorsteps. Furthermore, a few of mistaken professionals are so satisfied in bringing their websites in top of the search engine results for a short time while their competitors manage to sustain their top position in search engines for a long time. In fact, this is the sustainable SEO that is all required for the very success of sales and marketing initiatives. When a sizeable but relevant traffic starts coming on your site on regular basis, it automatically creates a business environment which is equally par-
ticipated by buyers and suppliers from all over the world. Your website doesn't come on top accidently or eventually, or if comes on top by chance it still requires sustainable SEO approaches to confirm its high-ranking status on the web. Sales leads, in the world online and trading, are taken as most essential element for creating the needed noise for businesses but crafting these sales leads effectively requires smart utilisation of certain tips and techniques which, in the end, can really lead your sales leads to win your customers hands down. Sales leads, as suggested by its name, lead the business or trading to actual sales. If the same can't lead you towards actual sales, it depicts flaws in your sales leads or any other loophole found in strategies meant for the generation of result-oriented sales leads. Once your prospect gets targeted through online or offline means, it must take you towards sales conversion, or else you are doomed to face the same fate most online businesses suffer unfortunately. Sales leads, in other words, are not only the starting point for any business or virtual trade as these very sales leads are also the end point of your entire trading efforts. We can easily improve the quality of our sales leads and make them resultoriented. Improvement of sales leads is directly subject to some basic factors such as information sharing and sources where from these sales leads are being generated. An effective sales lead speaks for itself as it discloses the complete details about the products posted as well as all information and related particulars about the company
itself. Apart from revealing all related details about products and its manufacturer, an effective sales-lead also mentions contact details of the company, including its complete phone and fax numbers with MSN, Skype or Facebook ID's as well. Many companies willing to make business online just rely upon signing up the initial form without putting their efforts in making their sales leads professionally sound. Do share everything with your targeted audiences giving them an impression that your company is a legitimate commercial entity conforming to all legal and procedural formalities as required by states and countries they basically belong to. You must be able to first understand the difference between a sale lead in relation to a quality sales lead. Secondly, if sales leads are generated from reliable and globally-recognisable sources (e.g. USA, Hong Kong, Taiwan etc.), your chances to attract a majority of customers through your posted sales leads are always higher. Some specific and regions and countries are given priority in comparison with those of businessmen and companies having less reliable regional background on their credit. Furthermore, sales leads should be based on information and maximum details explaining each and everything to your targeted customers and clients. In a nutshell, sales leads are not abruptly made; they are systematically designed in fact. They entail lots of strategic thinking and planning just like other business domains. Thus, it's better to think, evaluate and review before posting a single lead online.
Europe Asian factory growth stalls in July F
actories in Asia and Europe expanded in July at the weakest rate since major industrial powers were struggling through the 2009 recession, adding to concerns over world growth. While stock markets rose on signs of a last minute solution that would avoid a US debt default, manufacturing purchasing managers indexes (PMIs) provided the latest evidence of a slowing global economy. The euro zone manufacturing PMI, which gauges the activities of thousands of businesses, fell to 50.4 in July from 52.0 in June ¬ its worst showing since September 2009 and barely above the 50 mark dividing growth and contraction. Perhaps more worryingly, China's official government PMI dropped to 50.7 from 50.9 in June, its weakest in more than two years, while the HSBC PMI fell below the 50 mark for the first time in a year to 49.3 in July from 51.6. China was the main engine of growth as the developed world sank into recession after the 2008 financial crisis and signs of a slowdown there would worsen the global outlook at a time when both the US and European economies are struggling with debt crises. All eyes will be on the United States' ISM manufacturing survey, due at 1400 GMT, which is expected to dip as well but still show a more positive reading of 54.9 points. In Germany, the euro zone's key growth engine in
the recovery thus far, manufacturing growth fell to a 21-month low after new orders contracted for the first time in more than two years. "At the global level, the manufacturing cycle is taking a turn for the worse," said Silvio Peruzzo, economist at RBS in London. "It's not a euro area story; it's a broad-based story. Look at China, look at other advanced economies clearly the manufacturing cycle has taken a turn which was more pronounced that was probably anticipated." Peruzzo said for the euro zone at least, it might take a couple more months to draw conclusions about whether the slowdown is of a transitory nature, or whether another recession was on the way. In some cases, like Greece, economies are already contracting. Even in the UK, which so far has been shielded from the crisis gripping the euro zone, the manufacturing PMI fell to 49.1 from 51.4 in June the first time below the 50 mark since the country was in recession two years ago. "The UK is going through more than just a little local difficulty," said Peter Dixon, economist at Commerzbank. "You've got a slowdown in global economy and a fall-off in domestic demand, and that's a pretty toxic combination." While the decline in the UK PMI was worrying, the
likes of Spain and Ireland saw contraction among factories only deepening in July. EMERGING PROSPECTS Emerging market are also taking a hit. Indian manufacturing growth slowed in July for the third month in a row. The HSBC PMI dropped to 53.6, from 55.3 in June, the lowest level since November 2009. New export order growth in China, the world's biggest exporter, hit its lowest level in 17 months, the official survey showed. But HSBC said new export orders in India fell in July at their fastest pace in 29 months and in Taiwan, home to the world's two biggest contract computer chip makers; these fell markedly and for the first time in nine months. "There is still a lot of uncertainty about how global demand will hold up," said Vishnu Varathan, economist at Capital Economics in Singapore. Many economists prefer to describe China's economic growth as a slowdown rather than slump. But some say Beijing is treading an increasingly fine balance between fostering growth and fighting inflation, especially as its monetary policy tightening campaign runs into its 10th month. Bucking the trend, South Korean manufacturing growth accelerated for the first time in seven months in July and new export orders also picked up. -Reuters
China debt woes point to need for another fiscal ‘big bang’ BEIJING, Aug 1 (Reuters) - A mountain of debt held by local governments in China has exposed the fundamental flaws of its fiscal structure, which will need to be fixed to help break a vicious circle of local authorities living beyond their means. With its deep pockets, Beijing will be able to head off a near-term credit crisis as a portion of the hundreds of billions of dollars in debt taken on by these provincial, city and regional governments turns sour over the next few years. However, China will need to reform its two-decade-old tax regime, under which the central government commands the lion's share of revenues but saddles local authorities with most expenditures, if it hopes to avoid creating another similar debt mess down the road. Most analysts believe that very system -- together with a relentless pursuit of economic growth by provincial and city officials that was exacerbated by the government's stimulus programme launched in 2008 -- is the root cause of the pile of bad loans now hanging over the economy and banking system. "Fiscal reforms are very pressing because there is little doubt that the local government debt problem is linked to the tax system," said Wang Jun, an economist at CCIEE, a top government think-tank in Beijing. "For local governments, there has been a mismatch between their revenues
and administrative burdens. They have to rely more and more on central government payment transfers," he said. RIGHTS VS RESPONSIBILITIES Local governments' debt dates in part to Beijing's 1994 "big bang" tax reform, launched by then-economic czar Zhu Rongji. While it strengthened Beijing's hand to steer the economy through rapid changes, that tax regime put severe strains on local government finances by stipulating that the central government would keep all trade-related and consumption taxes. Beijing also got to keep the lion's share of value-added taxes and half of those from securities transactions. Local governments, which in mainland China include 31 provinces, municipalities and regions as well as hundreds of city, county and districtlevel governments, were left with property and land-related taxes and some business taxes. While the central government does transfer part of its revenues back to local governments, they are far from enough to cover their regular expenditures on things such as education and health care, plus the big-ticket projects many of them have relied on to fuel local growth. They are also expected to put up a significant portion of the funds for centrally-directed projects, as highlighted by the fact that Beijing paid for just over a fourth of the 4 trillion yuan ($620 billion) economic stimulus launched in late
2008 to combat the effects of the global financial crisis. Local governments were forced to pick up much of the balance, prompting them to sell land for cash and to set up thousands of special financing platforms to get around rules barring them from borrowing directly. By the end of 2010, local governments' share of state revenue was just 49 percent, down from 78 percent in 1993. But they accounted for 82 percent of total expenditures last year, driving the debt burden of local governments up to 10.7 trillion yuan, according to official figures. "Local governments have plenty of fiscal resources, but they also have plenty of objectives," Tao Wang, economist at UBS, said in a recent note to clients. "The current situation of relying on central government refunds and transfers and land sales for two-thirds of funding is obviously not sustainable." BROADER REFORMS The risks of doing nothing are grave. First, as Beijing cracks down on property speculation that it fears could push the economy to overheat, local governments could see their revenue base dry up. Local government revenues from land sales leapt 70 percent in 2010 to 2.9 trillion yuan, but such income is already falling this year due to the property cooling measures. With land revenues accounting for nearly three-fourths of their budgetary revenues, local governments will have a
strong incentive to defy Beijing's edicts on property sales, or face a severe pinch in their finances -- either by having to cut back sharply on spending, or continuing to rack up more debt. "If local governments cannot carry out land and fiscal reforms, the local debt problem will persist, posing a big threat to China's economic development," Zhou Qiren, an academic adviser to the People's Bank of China, told a recent forum. To fix the problem, China will need to shift more spending to the central government, publish government budgets and increase local government autonomy in revenue raising and debt issuance, said Stephen Green, economist at Standard Chartered. "Without these, this bailout, like the one in 1998-2005, will not be the last," he said in a note to clients. However, there is little sign that Beijing is ready to forge ahead with any meaningful changes to the current tax regime, which could weaken its grip on the economy and lead to calls for political reforms, analysts say. "As the reform concerns the relationship between the central government and local governments, it's not simply an economic issue -- it involves some concessions of power by the central government," said Wang at CCIEE. "It's a reform that could touch on the fundamental interests of the government. So the resistance could be huge."
5
Tuesday, August 2, 2011
South East Asian stocks
Indonesia, Philippines scale record highs KSE-100 Index Opening Closing Change % Change Turnover (mn)
12,190.37 12,253.39 63.02 0.52 38.94
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,085.69 3,090.88 5.19 0.17 1.44
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,745.85 2,765.15 19.30 0.70 0.05
Major Gainers
Symbol
Close
Change
ULEVER 5,929.70 COLG 750.00 BHAT 255.00 EXIDE 189.06 CPL 155.24
131.07 12.76 10.48 9.00 5.58
Major Losers
Symbol
Close
Change
BATA MTL PSO PMPK SHEZ
636.71 589.31 245.74 153.55 131.00
-21.11 -7.15 -5.06 -4.45 -3.87
Top 5 Volume Leaders
Symbol WTL FFC NML FFBL ENGRO
Close Vol (mn) 1.68 162.32 46.35 46.99 141.75
3.63 2.14 2.08 1.95 1.80
Active Issues Plus Minus Unchanged
110 120 91
Sector Updates FERTILISER 000 tonnes Urea Offtake (Jan to Apr 11) 1,714 Urea Offtake (Apr 11) 487 Urea Price (Rs/50 kg) 1,234 DAP Offtake (Jan to Apr 11) 215 DAP Offtake (Apr 11) 55 DAP Price (Rs/50 kg) 4,050
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Apr 11) 71,096 Sales (July 10 to Apr 11) 69,203 Production (Apr 11) 7,220 Sales (Apr 11) 7,510
INDUS MOTOR CO Production (July 10 to Apr 11) 42,670 Sales (July 10 to Apr 11) 41,940 Production (Apr 11) 4,219 Sales (Apr 11) 4,681
HONDA ATLAS CAR Production (July 10 to Apr 11) 14,062 Sales (July 10 to Apr 11) 13,754 Production (Apr 11)
1,582
Sales (Apr 11)
1,640
DEWAN FAROOQ MOTORS Production (July 10 to Apr 11) Sales (July 10 to Apr 11) Production (Apr 11) Sales (Apr 11)
186 203 -
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (May 27,11) Advances (May 27,11) Investments (May 27,11) Spread (April 11)
5,220,669 3,087,531 2,341,433 7.52%
OIL MARKETING CO (000 tons) MS (Jul 10 to Apr 11) MS (Apr 11) Kerosene (Jul 10 to Apr 11) Kerosene (Apr 11) JP (Jul 10 to Apr 11) JP (Apr 11) HSD (Jul 10 to Apr 11) HSD (Apr 11) LDO (Jul 10 to Apr 11)) LDO (Apr 11) Fuel Oil (Jul 10 to Apr 11) Fuel Oil (Apr 11) Others (Jul 10 to Apr 11) Others (Apr 11)
PRICES (Ex-Refinery) MS (1 May 11) MS (1 Apr 11) MS % Chg Kerosene (1 May 11) Kerosene (1 Apr 11) Kerosene % Chg JP-1 (1 May 11) JP-1 (1 Apr 11) JP-1 % Chg HSD (1 May 11) HSD (1 Apr 11) HSD % Chg LDO (1 May 11) LDO (1 Apr 11) LDO % Chg Fuel Oil (1 May 11) Fuel Oil (1 Apr 11)
1,867 196 134 14 1,148 117 5,719 567 44 2 7,252 739 143 15
Rs 62.83 59.35 5.86% 73.63 68.95 6.79% 73.86 70.88 4.20% 78.79 75.02 5.03% 71.55 65.27 9.62% 57,253 56,777
European shares fall on growth worries
Policy rate cut improves mood at KSE Nawaz Ali KARACHI: Announcement by the State Bank of Pakistan (SBP) over the weekend to reduce the discount rates by half a percent initiated bullish sentiments at Karachi Stock Exchange (KSE) on Monday. However, volumes remained low as local investors stayed cautious on fears of further foreign selling. The benchmark KSE-100 gained 63 points to close at 12,253 points, KSE-30 index was up 50 points to close at 11,611 points and KSE allshare index rose by 40 points to close at 8,490 points.
FTSE rally offset by poor US data LONDON: Britain's top share index shed 0.7 per cent on Monday after a roller-coaster session, with early strong gains on relief over a debt deal in Washington wiped out later by weak ISM data which threw the spotlight back on a faltering US economy. At the close, the FTSE 100 index was down 40.76 points, or 0.7 per cent at 5,774.43, having reversed from triple-digit session highs back above the 5,900 level. The UK index tracked a similar reversal on Wall Street, with the US blue chip index down 1.0 per cent by London's close, having opened strongly higher only to be knocked by a weak reading on the manufacturing sector. The Institute for Supply Management (ISM) said growth in the US manufacturing sector slowed more than expected in July while new orders hit their lowest level since June 2009. US-focused plumbing supplies group Wolseley was a big blue chip faller, down 3.9 per cent as the data raised fresh worries about the strength of the US economy. Part-nationalised lenders Lloyds Banking Group and Royal Bank of Scotland were See # 13 Page 11
"Good news at the weekend was reduction in discount rate by 50 basis points coupled with rebound in Asian markets helped Karachi bourse to post a gain of 0.5 per cent", said Samar Iqbal, equity dealer at Topline Securities. Pakistan Oilfields was up Rs4.5 with more than one million shares traded as investors are expecting better results from this company. Lucky Cement also performed well after better than expected full year results announced with payout, she added. The State Bank of Pakistan (SBP) on Saturday announced to reduce the policy rate by 50
basis points to 13.5 per cent with effect from August 01, 2011 for the next two months. The decision was a pleasant surprise as many analysts were anticipating that SBP would keep the interest rates unchanged. The sentiments were further boosted as the Asian stock markets rose on Monday as lawmakers in the United States agreed on a deal to avert debt default. In response to central bank's move to reduce the key interest rate market opened with a gain of 10 points after which gains gradually consolidated due to See # 12 Page 11
Indian shares start Aug on firm footing MUMBAI: Indian shares started August on a positive note and snapped a four-session decline, rallying 0.6 per cent on Monday, after a deal by top US lawmakers to avoid a debt default provided some respite to investors and propelled them towards riskier assets. The main stock index, however, closed off early highs, as Asia's third-largest economy saw further signs of a slowdown, and big gains were not likely for the market in the near term. India's July factory expansion
was the weakest in 20 months, and a government panel cut its growth forecasts, while leading auto makers reported a fall in July sales. The 30-share BSE index closed 0.64 per cent, or 117.13 points, higher at 18,314.33 points, with 23 components advancing. It had risen as much as 1.3 per cent earlier. The benchmark had slid 3.4 per cent in July, its biggest monthly decline since January. "Today's rally is driven by some relief on US' debt See # 7 Page 11
Nikkei climbs on US debt deal TOKYO: The Nikkei stock average climbed back above 10,000 at one point on Monday, the first time in three days, helped by short-covering and futures-led buying after top US lawmakers reached an agreement to reduce the deficit and avoid a default. Banking stocks led gains after first-quarter earnings results showed banks making better-than-expected progress towards their full-year estimates with Mitsubishi UFJ
Financial Group jumping 4 per cent after net profit tripled. But analysts said the market is unlikely to gain much more momentum ahead of US unemployment data on Friday as investors are still skeptical about the health of the US economy, adding that the benchmark index will probably trade around 10,000 for much of this week. President Barack Obama announced a last-minute deal to See # 8 Page 11
HK, China shares gain on US debt move HONG KONG: Hong Kong and China shares rose on Monday after feuding lawmakers in the United States agreed on a deal to avert debt default but low turnover that worries about global growth were keeping investors wary of making big bets. Manufacturing data from China and Europe showed factory activity weakening, signalling that global demand was losing momentum, even as developments in the US shift investors' focus back to earnings from China Inc. Around midday on Monday, the Hang Seng Index had risen rose 1.6 per cent but it later lost some of the gain, closing up 1.0 per cent at 22,663.4. Turnover totalled about HK$63 billion, about 3 per cent below its 20day average. In a sign that earnings could take over as the key driver for the markets, insurance giant AIA Group Ltd rose 3.3 per cent to a record high on strong volume, extending last week's 6.5 per cent gain as investors continued to cheer the company's growth
prospects in Asia. After the market close, HSBC Holdings announced first-half profits that surprised on the upside and said it remained positive on the prospects for emerging market economies. Any gains in its Hong Kong listings could lift the Hang Seng Index, given HSBC's 15 per cent weight on the benchmark. SHANGHAI EDGES UP The Shanghai Composite Index edged up 0.1 per cent to finish at 2,703.8 points, as Ashare turnover in Shanghai was almost 40 per cent below its 20day average, nearing a one-year low. The biggest boost to the benchmark came from coal counters, which outperformed on anticipated higher demand after a government report instructed thermal power plants to continue buying coal and "try to generate as much power as possible" to ward off electricity shortages. China's top five state-owned power generating groups lost 15.38 billion yuan ($2.39 billion) on their thermal power
businesses in the first half, double the losses of a year earlier. They have been taking a hit because coal prices have risen far more than power tariff increases. Banks kept gains for the broader market in check after the sector saw a bounce on Friday when the top banking regulator said stress tests showed that Chinese banks will be able to cope even if property prices, in a worst case scenario, drop by 50 per cent. China Citic Bank Corp shed more than 3 per cent on Monday in volume more than triple its 30-day average. The stock had gained 7.8 per cent on Friday. "Citic gained more than its peers on Friday because it stands to benefit the most since its percentage of property loans is higher than the rest," said Eliza Liu, a strategist with CCB International in Beijing. "Today's dip could point to those fears...I doubt any stress tests can show exactly how those property loans would affect the banks," Liu said.-Reuters
ABL earnings soar 39pc Ghulam Raza Rajani KARACHI: Allied Bank Limited (ABL) has been announced its 1HCY11financial results. The profit for the period ended augmented by 39 per cent to Rs5.03 billion (EPS: Rs5.85) as compared to Rs3.62 billion (EPS: Rs4.21) for the same period last year. The Bank also announced interim dividend of Rs2.50 per share. Interest income of the Bank was up by 12.5 per cent to Rs24.57 billion for 1HCY11 against Rs21.84 billion for the same period of last year. A against this interest expenses increased by 8.25 per cent to Rs12.20 billion compared to Rs11.26 billion in 1HCY10. Net interest income was up 16.98 per cent to Rs 12.37 billion against Rs 10.58 billion during the period under review. The Bank recorded Rs992 million as non-performing loans against advances for 1HCY11 versus Rs2.13 billion for 1HCY10, posting a decline of 53.36 per cent. However, operating expenditure increased by 22.94 per cent to Rs6.82 billion during 1HCY11.
ISE-10 witnesses bullish trend ISLAMABAD: The Islamabad Stock Exchange witnessed bullish trend here on Monday, as the index ended at 2765.15 points, with 19.30 points higher than the previous day. Manager First National Equity, M.M. Hassan said that cut in interest rate by State Bank of Pakistan (SBP) was a step leading towards investors' friendly atmosphere and contributed positive to market. He said that market performed well by witnessing bullish trend on Monday. Zaheer Ahmed, Senior Equity Dealer, Ismail Iqbal, said that the decrease in interest rate by SBP boosted confidence of investors in the stock markets. He said that cut in interest rate would benefit those sectors which were running their business on leverage, like Cement, Fertilizer and Textile sectors. See # 9 Page 11
Rs4/share dividend announced
Lucky Cement’s profit surges to Rs3.97bn Ahmed Siddique KARACHI: Lucky Cement has posted profit after tax of Rs3.97 billion (EPS: Rs12.28) for the fiscal year 2010-11, against profit of Rs3.13 billion (EPS: Rs9.70) for the same period last year, an increase of 26.55 per cent YoY. Despite that volumetric sales declined, earnings surge mainly due to higher retention prices, up by 32 per cent YoY. The Company announced distribution of Rs4 per share dividend among the shareholders. Net sales surged by 6.16 per cent on account of higher cement prices to Rs26.02 billion as against Rs 24.51 billion during FY10. On the other hand, volumetric sales of the
Company declined by 12.2% YoY to 5.82 million tonnes in FY11 against 6.63 million tonnes in FY10. Gross profit was up by 9.2 per cent to Rs8.71 billion versus Rs 7.97 billion due to higher cement prices. Administrative expenses remained under control and surged by 3.35 per cent to Rs313 million in FY11. Distribution cost decreased by 5.7 per cent to Rs 3.23 billion as against 3.43 billion recorded corresponding period last year. Other charges were up by 26.3 per cent to Rs325 million versus Rs258 million in FY10. However, financial cost declined by 9.03 per cent to Rs518 million from Rs 569 million in FY10.
Meezan Bank records 92pc growth in PAT Staff Reporter KARACHI: Meezan Bank has recorded robust growth of 92 per cent in profit after tax for 1HCY11 to Rs1,382 million (EPS: Rs1.72) from Rs719 million (EPS: Rs0.90) for the corresponding period last year. The Board approved distribution of 10 per cent interim cash dividend, continuing its consistent payout record since listing at the local stock exchange. The Board of Directors' of Meezan Bank Limited in its meeting held on July 30, 2011 approved the financial statements of the Bank for the half year ended June 30, 2011 and also appointed Abdullateef A. Al-Asfour, Vice Chairman of the Board. During this period, the deposits of the Bank increased by 13 per cent to Rs148 billion
on June 30, 2011. The growth in deposits reflects the strong demand for Islamic financial products and the dominance of Meezan Bank in the Islamic banking industry. The Bank has achieved growth in all business segments and consolidated its position as the leading Islamic bank of Pakistan. The total assets of the Bank grew by 12 per cent to Rs173 billion. Significant growth of 61 per cent was also recorded in Investments which increased to Rs89 billion mainly due to investment in Ijarah Sukuk issued by the Government of Pakistan. During the period, the JCRVIS Credit Rating Company Limited upgraded the Bank's short term rating from A-1 (AOne) to A-1+ (A-One Plus), the highest standard in short-term See # 6 Page 11
ANNOUNCEMENTS Company Period Lucky Cement Ltd. Yearly Meezan Bank LtdXB Half Yearly Allied Bank Ltd Half Yearly Allied Bank Ltd (Consolidated)Half Yearly Century Paper Yearly Hallmark Insurance Half Yearly Abdullah Shah 3rd Qtr Ansari Sugar 3rd Qtr Bawany Sugar 3rd Qtr Colony Sugar Mills 3rd Qtr Crescent Sugar 3rd Qtr Exide (PAK) XDXB 3rd Qtr Haseeb Waqas Sugar 3rd Qtr Tandlianwala Sugar 3rd Qtr
Div/Bon/Right 40%(D) 10%(i)(D) 25%(i)(D) -
PAT (Rs in mn) 3,970.40 1,382.07 5,032.89 5,072.13 405.12 -0.06 45.88 -15.82 -28.32 72.04 93.73 102.84 -91.71 248.61
EPS(Rs) 12.28 1.72 5.85 5.90 0.21 -0.12 0.58 -0.65 -3.25 0.73 -1.48 18.20 -2.83 2.11
Dhiyan
INVESTORS' CONFIDENCE IMPROVING Mohammad Imran, AVP Research, Arif Habib Limited Market outlook seems bullish on the back of corporate results season and the index is expected to touch 13,000 levels soon. Better then expected corporate results would trigger the market. If the foreign investment figures continue to show net buying over the next 2-3 days then it would revive investors' confidence to some extent. Investors are advised to invest in selective stocks which are available at discount like; FFC, NML, DGKC, MCB, NBP, and POL. Market would be positive today.
Faran Rizvi, Technical Analyst, Invisor Securities The benchmark index closed above the major resistance level of 12,250 points on Monday that showed that bulls are still in control of the market. We recommend traders to buy with stop losses. They can invest in fertilizer and cement sectors. The recent cut in the discount rate would restore investors' confidence. However foreign selling because of US default would be the only upcoming threat for the investors. Market would remain bullish today.
6
Tuesday, August 2, 2011
Market
KSE 100 Index
Symbols
Volume
38,935,286
Value
2,196,826,574
Trades
30,453
Advanced Decline Unchanged Total
Current High Low Change
110 120 91 321
All Share Index
12,253.39 12,330.99 12,190.37 h63.02
Current High Low Change
8,490.38 8,541.73 8,449.87 h40.51
OIL AND GAS
Paid up Cap(mn)
Company Attock Petroleum Attock Refinery BYCO Petroleum
PE
Open
High
High Low 1,572.86 1,536.65 Total cos Defaulter cos 12 P/BV (x) ROE (%) 3.47 32.54 Low
Close Chg
Last 60 days High Low
Volume
% Change 0.82 5-Day High 1,567.93 5-Day Low 1,527.26
2010 Div BR (%) (%)
2011 Div BR (%) (%)
6.58 365.23
369.39 363.50 364.41 -0.82
22658
394.90
362.00
300
853
4.15 125.26
128.00 125.60 126.53
1.27
397911
143.50
120.40
-
-
-
-
8.74 -0.11
456304
10.10
8.00
-
-
-
-
- 23.43
-
-
-
-
-
8.85
9.09
8.61
20B115.00
-
Mari Gas Company
735
4.17 102.00
103.00 102.00 102.00
0.00
3842
113.75
98.76
31
National Refinery
800
5.07 365.97
371.25 366.01 366.72
0.75
155271
390.00
323.50
200
Oil & Gas Development 43009 10.52 153.85
157.40 153.01 155.46
1.61
492757
157.51
145.21
55
- 30.00
-
Pak Petroleum Pak Oilfields Pak Refinery Limited
11950
7.74 208.71
212.50 210.65 211.65
2.94
630016
219.70
202.50
2365
8.00 358.55
366.52 360.01 362.99
4.44
1005405 391.69
350 41.34
P.S.O
1715
Burshane LPG
226
Shell Pakistan
685
75.07
3.51 250.80 -
24.29
7.82 219.90
76.00
74.00
74.00 -1.07
259.94 245.02 245.74 -5.06 24.65
24.65
90
20B100.00
-
324.03
255
-100.00
-
89.25
74.00
-
-
-
-
291.50
243.25
- 80.00
-
3406 229624
80
24.29
0.00
300
25.60
22.11
-
-
-
-
221.94 219.01 219.98
0.08
2427
233.00
208.00
120
-
-
-
CHEMICALS
Company
High Low 1,883.75 1,847.67 Total cos Defaulter cos 36 6 P/BV (x) ROE (%) 3.08 35.00
Change 13.34 Market cap 378,903.97 mn Div Yield (%) 5.55
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
3924
-
19.05
19.49
18.05
18.05 -1.00
15814
20.94
Bawany Air
75
BOC (Pak) Clariant Pak
4.42
7.83
8.79
8.70
8.79 0.96
10R
-
-
109.99
90.50
60
-
-
-
9272
167.00
148.50
135
25B
-
44611
66.00
53.11
50 300B
-
-
1.90 -0.04
15501
2.79
1.83
-
-
-
6.21
6.27 -0.01
74620
8.40
-
-
-
2.16
2.19 -0.01
465043
3.65
2.07
-
-
-
-
1799570 200.00
139.20
60
20B
-
-
Descon Chemical
1996
-
1.94
2.19
1.90
Descon Oxychem Ltd.
1020
9.22
6.28
6.45
Dewan Salman
3663
-
2.20
2.30
Engro Corporation Ltd
3933
6.33 142.89
146.50 141.05 141.75 -1.14
6635
-
9.58
9.81
9.55
9.61 0.03
22000
-
16.22
16.64
16.23
16.34 0.12
-
5.60
-
12.67
9.47
- 27.5R
-
-
1058696
17.60
12.10
-
-
-
2138240 172.97
138.50
130
25B 92.50
-
- 35.00
-
-
-
-
-
8482
8.44 159.86
Fauji Fert.Bin Qasim
9341
6.19
46.82
47.50
46.71
46.99 0.17
1945513
48.05
41.26
65.5
725 10.08
11.90
12.10
11.80
12.00 0.10
3178
13.90
11.40
-
48089
160.00
148.02
175
1388
-
-
12.31 0.12
875327
-
-
-
3.03
3.19
3.01
3.06 0.03
181830
3.30
2.26
-
-
-
-
Sitara Chem Ind
214
2.45
99.96
98.99
96.00
98.80 -1.16
1053
104.25
94.67
25
5B
-
-
Sitara Peroxide
551
4.99
16.19
16.50
16.11
16.13 -0.06
25451
19.12
16.05
-
-
-
-
90
5.17
36.89
37.95
36.60
36.60 -0.29
600
37.99
34.76
50
-
-
-
Lotte Pakistan
15142
Nimir Ind Chemical
8.58 153.53 3.44
1106 13.30
Wah-Noble
12.19
156.01 154.05 154.51 0.98
-
12.50
12.25
15.94
11.85
5
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,128.35 Turnover 85,371 P/E (x) 5.44 Company
Paid up Cap(mn)
Century Paper Security Paper
High Low 1,148.98 1,114.53 Total cos Defaulter cos 4 1 P/BV (x) ROE (%) 0.41 7.47
Close 1,121.05 Listed cap 1,186.83 mn Payout (%) 25.28
PE
Open
High
Low
Close Chg
Volume
707 76.81 411 5.49
16.35 42.15
16.75 42.84
15.90 42.00
16.13 -0.22 42.04 -0.11
71498 13873
Change -7.31 Market cap 3,092.87 mn Div Yield (%) 4.65
Last 60 days High Low 18.00 43.55
14.66 37.50
% Change -0.65 5-Day High 1,128.35 5-Day Low 1,100.22
2010 Div BR (%) (%) 50
Open
High
Low
Close Chg
Volume
Last 60 days High Low
75.45 23.05
78.50 23.45
76.99 23.20
77.84 23.25
6052 600
91.20 29.50
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe XD International Ind
PE
565 3.46 675 555 21.07 1199 9.06
Open 26.90 2.34 12.00 50.52
High 27.10 2.45 11.80 50.88
Low 26.50 2.26 11.30 50.35
Close Chg 26.50 2.35 11.80 50.62
-0.40 0.01 -0.20 0.10
Close 1,016.83 Listed cap 3,596.11 mn Payout (%) 30.91
Change -3.89 Market cap 15,297.17 mn Div Yield (%) 9.47
Open 1,112.93 Turnover 143,867 P/E (x) 3.67 Company
Last 60 days High Low
Volume 7249 8362 10544 1602
29.25 3.10 12.95 52.75
25.70 1.62 11.05 48.52
2010 Div BR (%) (%) 30 40
2011 Div BR (%) (%)
- 35.00 25B 15.00 20B 15
PE
Open
High
Low
144
4.31
70.03
69.97
69.97
101 719
Atlas Honda Dewan Motors
1087
Exide (PAK)XDXB
71
Company
Paid up Cap(mn)
Al-Abbas Cement
PE
Open
High
Low
Close Chg
Close 856.79 Listed cap 54,792.74 mn Payout (%) 19.04
Change 5.33 Market cap 69,605.00 mn Div Yield (%) 3.29
Last 60 days High Low
Volume
2010 Div BR (%) (%)
3657
-
2.56
2.62
2.42
2.42 -0.14
3201
3.25
2.35
-
-
Attock Cement
866
6.08
46.88
48.51
47.99
48.00 1.12
14041
56.01
45.65
50
-
-
-
Balochistan Glass Ltd
858
-
1.50
1.51
1.50
1.50 0.00
2500
2.90
1.36
-
-
-
-
Cherat Cement
956 41.67
8.80
9.34
8.75
8.75 -0.05
1267
10.60
8.50
-
-
-
-
Dadabhoy Cement
982 16.92
2.25
2.20
2.02
2.20 -0.05
4626
2.25
1.50
-
-
-
67914
2.67
1.36
-
-
-
-
25.85
21.31
-
20R
-
20R
Dewan Cement
3891
-
1.45
1.74
1.49
1.51 0.06
DG Khan Cement Ltd
4381 30.51
22.58
23.25
22.75
22.88 0.30
Fauji Cement
1095482
- 100R
2011 Div BR (%) (%)
-
13311
6.81
3.93
4.00
3.91
3.95 0.02
77205
5.04
3.83
-
-
-
92R
Flying Cement Ltd
1760
-
1.27
1.30
1.20
1.21 -0.06
2300
1.95
1.17
-
-
-
-
Gharibwal Cement
4003
-
4.91
5.50
5.06
5.10 0.19
6151
9.15
4.25
-
-
-
-
Kohat Cement
1288
-
5.82
6.00
5.81
5.81 -0.01
3101
7.60
5.80
-
-
-
-
-
Lafarge Pakistan Cmt.
2.40
2.45
2.35
2.40 0.00
225971
3.35
2.35
-
Lucky Cement
13126 60.00 3234
4.87
73.12
74.50
73.27
73.40 0.28
1204605
77.43
69.36
40
-
-
- 40.00
-
Maple Leaf Cement
5267
-
2.00
2.08
2.00
2.03 0.03
131976
3.05
1.99
-
-
-
-
Pioneer Cement
2271
-
4.68
4.80
4.70
4.80 0.12
3004
6.34
4.50
-
-
-
-
Safe Mix Concrete
200
-
4.84
5.79
4.98
4.33 -0.51
4406
5.79
4.17
-
-
-
-
Shabbir Tiles
721
-
6.77
7.00
6.26
6.70 -0.07
1100
7.49
5.25
-
-
- 100R
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 967.92 Turnover 52,053 P/E (x) 1.88
High Low 973.68 961.49 Total cos Defaulter cos 13 2 P/BV (x) ROE (%) 0.83 43.91
Close 966.71 Listed cap 3,043.31 mn Payout (%) 15.55
Change -1.21 Market cap 36,149.60 mn Div Yield (%) 8.27
% Change -0.13 5-Day High 973.14 5-Day Low 960.07
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Cherat Packagin
172
2.31
47.00
47.70
46.55
47.00 0.00
489
54.48
46.00
20
25B
-
50R
ECOPACK Ltd Ghani Glass
230 1067
5.39
1.46 52.98
1.54 54.00
1.33 52.10
1.42 -0.04 52.96 -0.02
28461 2900
1.80 58.50
1.10 51.00
25
10B
-
-
MACPAC Films Merit Pack
389 2.29 47 12.36
11.48 28.96
12.24 30.39
11.44 27.52
11.48 0.00 27.57 -1.39
105 7390
15.21 30.39
9.78 24.02
-
-
-
-
Packages Ltd Tri-Pack Films
844 17.33 104.11 300 7.16 184.08
10997 2200
118.00 184.95
101.75 161.00
32.5 100
-
-
-
Company
104.22 104.00 104.00 -0.11 184.95 181.15 183.58 -0.50
2010 Div BR (%) (%)
2011 Div BR (%) (%)
INDUSTRIAL ENGINEERING
288
6.36 236.90
241.50 237.10 239.40
2.50
7.56 128.76
127.40 123.01 126.45 -2.31
-
Company Ados Pak
Paid up Cap(mn)
PE
Open
66
3.33
9.00
High Low 1,749.56 1,697.75 Total cos Defaulter cos 11 1 P/BV (x) ROE (%) 2.90 38.02
High
Low
9.10
9.10
Close Chg
Ghandhara Nissan
450
Indus Motors
786
Pak Suzuki
823 14.36
Last 60 days High Low
2010 Div BR (%) (%)
500
10.75
7.70
-
-
-
-
3.84 223.15 9.29 7.81
227.00 222.00 222.27 -0.88 7.80 7.80 7.80 -0.01
3085 727
244.00 9.78
217.00 7.60
400 -
-
-
-
132 366
- 31.75 8.95 596.46
31.71 31.05 31.75 0.00 600.00 581.25 589.31 -7.15
102 58623
40.44 625.80
30.30 514.00
12.5 650
25B325.00
-
99.20
48.26
100
-
50.79
49.50
48.78
48.95 -1.84
779
-
-
-
40 15
2011 Div BR (%) (%)
- 50SD -
-
4.29
22.75
-
2.99
7.08 204.99 63.75
Change 0.28 Market cap 41,327.86 mn Div Yield (%) 5.57
Last 60 days High Low
2010 Div BR (%) (%)
68.00
90
-
-
10665
241.50
20B
-
-
302
15B 65.00
15B
208.00
100
160.00
112.10
50
0.01
75102
3.46
1.50
-
189.06 181.15 189.06
9.00
37475
235.00
163.10
24.85
22.00
2.70
22.80
22.53
22.53 -0.22
3.38
2.81
2.90 -0.09
208.00 206.01 204.99 64.50
63.70
63.75
2011 Div BR (%) (%)
73.00
2.70
2.80
% Change 0.03 5-Day High 1,117.67 5-Day Low 1,112.93
600 11206
-
-
-
60
- 60.00
25B
20
-
-
-
-
4.41
2.16
-
0.00
101
232.53
199.37
150
0.00
8026
72.50
61.35
5
-
-
-
- 50.00
-
-
-
-
Fundamental Highlights As on Dec 31, 2010
Technical Analysis RSI (14-day)
27.80
Total Assets (Rs in mn)
22,006.27
MA (10-day)
1.76
Total Equity (Rs in mn)
9,891.61
MA (100-day)
2.21
Revenue (Rs in mn)
MA (200-day)
2.45
Interest Expense
1st Support
1.60
Loss after Taxation
2nd Support
1.45
EPS 10 (Rs)
1st Resistance
1.95
Book value / share (Rs)
2nd Resistance
2.15
PE 11 E (x)
Pivot
1.80
PBV (x)
7,464.40 743.41 (1,147.01) (1.333) 11.49 0.15
WTL closed up 0.03 at 1.68. Volume was 549 per cent above average (trending) and Bollinger Bands were 18 per cent wider than normal. The company's loss after taxation stood at Rs182.323 million which translates into a Loss Per Share of Rs0.21 for the 1st quarter of current calendar year (1QCY11). WTL is currently 31.3 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of WTL at a relatively equal pace. Trend forecasting oscillators are currently bearish on WTL. Momentum oscillator is currently indicating that WTL is currently in an oversold condition.
Meezan Bank Limited
FOOD PRODUCERS Open 2,332.09 Turnover 244,054 P/E (x) Company
Paid up Cap(mn)
Abdullah Shah Ghazi Sugar793 AL-Abbas Sugar 174 AL-Noor Sugar 186 Ansari Sugar 244 Clover Pakistan 94 Colony Sugar Mills 990 Crescent Sugar 214 Habib Sugar 750 Hussein Sugar 121 J D W Sugar 539 Mirpurkhas Sugar 84 Nestle Pakistan 453 Noon Sugar 165 Quice Food 107 S S Oil 57 Sakrand Sugar 223 Shahmurad Sugar 211 Shahtaj Sugar 120 Shakarganj Mills 695 UniLever Pakistan 665
PE
Open
High
High Low 2,399.31 2,314.73 Total cos Defaulter cos 61 16 P/BV (x) ROE (%) 15.93 30.30 Low
Close Chg
5.99 4.95 4.70 4.61 4.61 -0.34 4.15 90.24 94.50 94.50 94.50 4.26 1.79 40.85 41.05 41.00 41.00 0.15 6.50 7.00 6.01 7.00 0.50 48.50 67.41 64.50 64.50 67.41 0.00 1.96 2.05 2.29 1.82 1.90 -0.15 - 10.50 10.50 10.50 10.50 0.00 5.26 26.05 26.50 26.25 26.30 0.25 0.95 10.67 11.65 11.65 11.65 0.98 2.70 80.90 82.90 81.90 82.30 1.40 1.52 52.95 53.50 52.25 52.30 -0.65 31.89 4201.58 4239.00 4110.01 4201.13 -0.45 2.88 14.50 14.95 14.95 14.95 0.45 11.36 4.00 5.00 5.00 5.00 1.00 0.31 4.30 4.34 4.34 4.34 0.04 2.36 2.50 2.35 2.50 0.14 1.33 10.60 10.85 9.80 10.00 -0.60 2.69 64.50 67.72 65.00 67.53 3.03 2.12 5.25 5.74 4.57 5.00 -0.25 21.93 5798.63 6088.56 5800.00 5929.70 131.07
Close 2,359.99 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change 27.90 Market cap 339,340.27 mn Div Yield (%) 0.58
Last 60 days High Low
500 6.90 4.00 2000 103.49 84.65 1520 54.20 37.05 1000 10.85 5.24 240 73.05 61.00 3314 2.99 1.51 8049 11.91 7.40 31903 28.00 23.30 1388 12.56 9.00 521 90.49 74.00 19359 54.50 39.51 234 5675.00 3299.00 500 17.50 14.16 42602 5.00 1.81 500 5.78 3.80 6000 3.40 1.75 45079 11.40 7.91 50989 71.50 60.00 28029 6.99 4.57 161 6135.00 4915.70
2010 Div BR (%) (%)
% Change 1.20 5-Day High 2,359.99 5-Day Low 2,289.97 2011 Div BR (%) (%)
50 50 15 25 25B 7010B 12.5R 15 20B 750 10 492 -
-40.49R - 10R -
Fundamental Highlights As on Dec 31, 2010
Technical Analysis RSI (14-day)
71.92
Total Assets (Rs in mn)
154,752.43
MA (10-day)
18.05
Total Equity (Rs in mn)
10,740.12
MA (100-day)
17.74
Revenue (Rs in mn)
14,765.58
MA (200-day)
17.39
Interest Expense
1st Support
18.70
Profit after Taxation
2nd Support
18.35
EPS 10 (Rs)
2.362
1st Resistance
19.20
Book value / share (Rs)
15.38
0.00 1,649.59
2nd Resistance
19.35
PE 11 E (x)
5.52
Pivot
18.85
PBV (x)
1.24
MEBL closed up 1.00 at 19.00. Volume was 197 per cent above average (trending) and Bollinger Bands were 24 per cent narrower than normal. The company's profit after taxation stood at Rs1.382 billion which translates into an Earning Per Share of Rs1.72 for the half year of current calendar year (1HCY11). MEBL is currently 9.4 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into MEBL (mildly bullish). Trend forecasting oscillators are currently bullish on MEBL. Momentum oscillator is currently indicating that MEBL is currently in an overbought condition.
NetSol Technologies Limited
HOUSEHOLD GOODS Performance of SR Household Goods Index Open 632.60 Turnover 77,930 P/E (x) 1.28
High Low 665.42 618.49 Total cos Defaulter cos 15 7 P/BV (x) ROE (%) 0.14 10.64
Paid up Cap(mn)
PE
Open
High
Low
Gauhar Engineering Ltd 22 Hussain Industries 106 Pak Elektron 1219 Tariq Glass Ind 693
1.31
1.00 3.64 6.36 9.75
0.85 4.00 6.89 10.44
0.85 3.65 6.00 9.70
Company
Company
Paid up Cap(mn)
(Colony) Thal Ali Asghar Textile Amtex Limited Artistic Denim Azgard Nine Bannu Woolen XD Bata (Pak) Bhanero Tex Mills Blessed Tex Mills Chenab Limited Colony Mills Ltd D S Ind Ltd Dewan Mushtaq Textile Ellcot Spinning Gadoon Textile XD Gulistan Spinning Gulistan Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Ishaq Textile Janana D Mal Khalid Siraj Kohinoor Ind Kohinoor Mills Masood Textile Mukhtar Textile Nadeem Textile Nagina Cotton Nishat (Chunian) Nishat Mills Prosperity Ravi Textile Reliance Weaving Rupali Poly Saif Textile Sally Textile Saritow Spinning Service Ind Shadman Cot Shahtaj Textile Shams Textile Thal Ltd Treet Corp Yousuf Weaving Zephyr Textile Ltd Zil Limited
56 222 2594 840 4493 76 76 30 64 1150 2442 600 34 110 234 146 190 222 716 3105 180 97 48 107 303 509 600 145 120 187 1621 3516 185 250 308 341 264 88 133 120 176 97 86 307 418 400 594 53
Close Chg 1.00 2.71 6.08 9.94
0.00 -0.93 -0.28 0.19
Close 618.60 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 500 526 74201 2603
Change -13.99 Market cap 4,222.31 mn Div Yield (%) 4.89
Last 60 days High Low
2010 Div BR (%) (%)
1.55 4.70 8.60 13.33
17.5
0.31 1.82 6.00 9.60
10B -
% Change -2.21 5-Day High 637.95 5-Day Low 618.60 2011 Div BR (%) (%) - 200R
979 250 2019 200
3,980.15
MA (10-day)
20.62
Total Equity (Rs in mn)
3,337.21
MA (100-day)
21.83
Revenue (Rs in mn)
1,845.02
21.39
Interest Expense
20.51
Profit after Taxation
951.86
Performance of SR Personal Goods Index
2nd Support
20.36
EPS 10 (Rs)
12.217
1st Resistance
20.80
Book value / share (Rs)
PE
High Low 965.01 952.82 Total cos Defaulter cos 211 73 P/BV (x) ROE (%) 0.50 8.64
Close 957.27 Listed cap 47,070.70 mn Payout (%) 16.68
Open
High
Low
Close Chg
Volume
1.01 0.75 2.62 8.02 25.00 6.07 0.64 16.20 7.49 657.82 0.81 244.52 0.97 99.35 1.61 1.61 1.50 1.03 0.17 3.63 0.55 23.71 0.59 63.00 0.43 7.99 0.60 18.08 0.37 9.26 0.72 3.55 2.61 36.52 1.74 4.85 0.38 5.50 0.35 12.10 0.42 1.45 1.05 1.36 1.74 18.33 0.25 2.43 42.15 0.61 15.25 3.04 19.94 4.11 47.39 0.86 13.56 0.80 0.57 11.50 2.88 39.85 0.27 7.60 0.25 6.37 0.28 1.42 3.29 192.11 19.43 21.60 1.57 28.94 0.69 17.00 - 99.01 6.42 51.34 0.51 1.12 3.31 2.57 6.22 57.45
1.25 0.80 2.72 26.25 6.25 15.50 688.00 255.00 102.00 2.00 1.62 1.15 3.50 23.25 61.25 7.70 19.08 9.25 3.65 37.00 4.79 4.75 11.25 1.60 1.10 1.40 19.33 0.77 44.25 15.12 20.50 48.25 14.20 0.93 11.00 38.55 7.60 6.75 1.50 194.50 22.68 28.00 16.00 103.00 52.67 1.16 2.55 57.40
1.25 0.70 2.50 24.30 6.01 15.21 630.00 255.00 100.00 1.55 1.50 0.93 3.25 23.25 61.00 7.70 19.08 8.90 3.60 37.00 4.55 4.75 11.21 1.55 1.01 1.26 18.00 0.41 40.05 15.11 19.75 45.90 13.00 0.71 11.00 38.10 7.60 6.00 1.50 192.00 20.52 28.00 16.00 98.00 50.02 1.06 2.55 55.00
1.25 0.24 0.70 -0.05 2.58 -0.04 25.35 0.35 6.05 -0.02 15.40 -0.80 636.71-21.11 255.00 10.48 101.67 2.32 1.56 -0.05 1.55 0.05 1.03 0.00 3.25 -0.38 23.25 -0.46 61.00 -2.00 7.99 0.00 19.08 1.00 9.00 -0.26 3.60 0.05 36.52 0.00 4.55 -0.30 4.75 -0.75 12.10 0.00 1.55 0.10 1.05 0.00 1.40 0.04 18.80 0.47 0.46 0.21 44.25 2.10 15.11 -0.14 19.79 -0.15 46.35 -1.04 13.24 -0.32 0.90 0.10 11.00 -0.50 38.17 -1.68 7.60 0.00 6.45 0.08 1.42 0.00 193.06 0.95 20.98 -0.62 28.00 -0.94 16.00 -1.00 101.08 2.07 51.37 0.03 1.15 0.03 2.55 -0.02 57.45 0.00
500 3000 116783 502 1197900 7002 8323 154 5300 6501 5396 2411 1001 2000 4505 189 1000 10000 8650 200 8001 7500 204 49977 10418 51342 3200 6654 320 1500 111790 2076420 789 17188 15350 1610 6227 9501 200 1609 1269 1400 1245 437647 2646 8000 900 211
Open 976.72 Turnover 12,500 P/E (x) 5.64 Paid up Cap(mn)
Total Assets (Rs in mn)
1st Support
Change -1.02 Market cap 119,194.07 mn Div Yield (%) 2.88
Last 60 days High Low 2.84 1.55 3.76 27.10 7.09 19.55 716.00 257.25 102.00 2.44 2.64 1.39 5.00 27.30 79.50 8.41 21.00 12.16 4.45 47.40 5.74 7.60 15.66 2.44 1.64 2.83 20.59 1.39 44.25 16.50 26.45 61.99 15.45 1.30 13.05 42.50 9.25 8.94 1.98 214.95 23.94 29.89 20.50 108.00 59.20 2.16 4.60 67.00
2010 Div BR (%) (%)
1.00 0.61 1.85 - 30B 21.00 20 5.20 14.70 20 422.00 280 225.00 200 56.07 50 1.55 1.32 0.80 2.71 22.65 35 61.00 70 6.30 10 17.76 10 8.90 10 20B 3.55 10 36.00 20 3.80 10 4.75 8 11.21 1.00 0.75 0.71 17.00 15 100R 0.16 18.96 20 14.10 20SD 19.20 15 45.90 25 45R 13.00 30 0.36 10.50 25SD 37.85 40 7.00 5.62 10 1.13 170.00 75 12.90 5 23.55 45 16.00 20 97.00 80 20B 49.40 50 900B 1.00 2.25 55.00 35 -
% Change -0.11 5-Day High 968.51 5-Day Low 954.27 2011 Div BR (%) (%) -
-
PHARMA AND BIO TECH
Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline IBL HealthCare Ltd
44.90
MA (200-day)
High Low 989.94 980.46 Total cos Defaulter cos 9 P/BV (x) ROE (%) 1.26 22.31
24.80
42.83
2nd Resistance
20.94
PE 11 E (x)
1.78
Pivot
20.65
PBV (x)
0.48
NETSOL closed up 0.25 at 20.63. Volume was 3 per cent below average and Bollinger Bands were 39 per cent narrower than normal. . The company's profit after taxation stood at Rs692.414 million which translates into an Earning Per Share of Rs8.69 for the nine months of fiscal year (9MFY11). NETSOL is currently 3.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of NETSOL at a relatively equal pace. Trend forecasting oscillators are currently bearish on NETSOL.
Maple Leaf Cement Factory Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
42.76
Total Assets (Rs in mn)
MA (10-day)
2.05
Total Equity (Rs in mn)
MA (100-day)
2.24
Revenue (Rs in mn)
MA (200-day)
2.49
Interest Expense
1st Support
2.02
Loss after Taxation
2nd Support
1.97
EPS 10 (Rs)
1st Resistance
2.10
26,094.94 4,134.21 13,630.51 2,059.48 (2,583.96) (6.941)
Book value / share (Rs)
2nd Resistance
2.13
PE 11 E (x)
Pivot
2.05
PBV (x)
11.11 0.18
MLCF closed up 0.03 at 2.03. Volume was 42 per cent below average and Bollinger Bands were 70 per cent narrower than normal. The company's loss after taxation stood at Rs1.565 billion which translates into a Loss Per Share of Rs3.26 for the nine months of fiscal year (9MFY11). MLCF is currently 18.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of MLCF at a relatively equal pace. Trend forecasting oscillators are currently bearish on MLCF.
BOOK CLOSURES Company
From
To
Silkbank Limited # KASB Bank Glamour Textile Mills # Trust Investment Bank # General Tyre & Rubber # Nishat Power # (TFC) Allied Bank Nishat Chunian Power # First Habib Modaraba Fauji Fertiliser MCB Bank Husein Industries
03-Aug 03-Aug 03-Aug 05-Aug 07-Aug 08-Aug 13-Aug 16-Aug 25-Aug 29-Aug 02-Sep 28-Oct
10-Aug 06-Aug 10-Aug 12-Aug 18-Aug 22-Aug 26-Aug 22-Aug 31-Aug 04-Sep 09-Sep 03-Nov
D/B/R 105.16(R) 22 30(III) -
Spot AGM/Date 26-Jul -
10-Aug 10-Aug 12-Aug 18-Aug 22-Aug 22-Aug -
INDICATIONS
Performance of SR Pharma and Bio Tech Index
Company
Fundamental Highlights As on Jun 30, 2009
Technical Analysis RSI (14-day)
PERSONAL GOODS Open 958.29 Turnover 4,214,917 P/E (x) 5.80
2011 Div BR (%) (%)
215 213
2010 Div BR (%) (%)
Performance of SR Food Producers Index
% Change -1.15 5-Day High 1,744.54 5-Day Low 1,719.65
KSB Pumps Millat Tractors
57
0.10
Volume
Change -19.94 Market cap 34,010.00 mn Div Yield (%) 17.23
AL-Ghazi Tractor Ghandhara Ind
Pak Engineering
9.10
Close 1,719.65 Listed cap 1,336.62 mn Payout (%) 131.49
2.69
2.60 180.06
Performance of SR Industrial Engineering Index Open 1,739.59 Turnover 63,818 P/E (x) 7.63
69.42 22.90
Close 1,113.21 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
0.00
598
-
% Change 0.63 5-Day High 867.43 5-Day Low 851.46
Close Chg 70.03
General Tyre
Performance of SR Construction and Materials Index High Low 871.45 852.08 Total cos Defaulter cos 37 6 P/BV (x) ROE (%) 0.41 7.10
High Low 1,126.54 1,111.90 Total cos Defaulter cos 19 4 P/BV (x) ROE (%) 0.93 25.35
Paid up Cap(mn)
-
% Change -0.38 5-Day High 1,035.83 5-Day Low 1,015.01
2.39 0.20
Performance of SR Automobile and Parts Index
CONSTRUCTION AND MATERIALS Open 851.46 Turnover 2,844,453 P/E (x) 5.79
WorldCall Telecom Limited
% Change 2.80 5-Day High 780.63 5-Day Low 750.24
AUTOMOBILE AND PARTS
Performance of SR Industrial Metals and Mining Index High Low 1,027.08 1,011.61 Total cos Defaulter cos 7 1 P/BV (x) ROE (%) 1.08 33.10
Change 21.02 Market cap 11,820.52 mn Div Yield (%) 2.23
PE
INDUSTRIAL METALS AND MINING Open 1,020.72 Turnover 27,759 P/E (x) 3.26
Close 771.26 Listed cap 3,242.17 mn Payout (%) 11.08
7.16 6.82
2011 Div BR (%) (%)
- 50.00
High Low 777.70 763.88 Total cos Defaulter cos 4 2 P/BV (x) ROE (%) 1.27 25.53
1092 1321
-
88895
Fauji Fertilizer
ICI Pakistan
163.39 161.40 162.32 2.46
21,364.64 21,516.03 21,203.61 h161.03
Paid up Cap(mn)
-
14327
53.59 -1.17
Ghani Gases Ltd
-
157.10 149.11 155.24 5.58 53.40
Engro Polymer
5
2011 Div BR (%) (%)
103.00 102.15 102.15 -3.01 55.35
6.11
-
6.31 149.66 54.76
8.79
-
7.69 105.16 3.11
Fatima Fertilizer
2010 Div BR (%) (%)
16.60
341 4813
1000
% Change 0.72 5-Day High 1,890.45 5-Day Low 1,826.59
250
Dawood Hercules
Company Pak Int Cont.Terminal PNSC
Atlas Battery
Close 1,858.54 Listed cap 52,251.88 mn Payout (%) 48.81
Paid up Cap(mn)
Agritech Limited
Open 750.24 Turnover 6,652 P/E (x) 4.98
Agriautos Ind
Performance of SR Chemicals Index Open 1,845.20 Turnover 7,732,541 P/E (x) 8.80
Current High Low Change
11,611.08 11,725.84 11,560.23 h50.85
Alert ! Unusual Movements
Performance of SR Industrial Transportation Index
Close Change 1,551.67 12.62 Listed cap Market cap 65,194.15 mn 1,143,987.86 mn Payout (%) Div Yield (%) 55.94 5.25
691 3921
Current High Low Change
KMI 30 Index
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,539.05 Turnover 2,943,317 P/E (x) 10.65
KSE 30 Index
Close 983.64 Listed cap 3,904.20 mn Payout (%) 44.54
# Extraordinary General Meeting
Change 6.92 Market cap 32,215.35 mn Div Yield (%) 7.90
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5.92 7.62 10.44 3.89
93.26 94.00 73.00 9.50
97.80 92.00 73.75 9.50
95.75 92.00 72.90 9.50
96.61 3.35 92.00 -2.00 73.10 0.10 9.50 0.00
6568 500 2833 2599
97.80 98.73 79.99 10.99
88.75 88.21 71.53 9.00
2010 Div BR (%) (%) 50 40 -
% Change 0.71 5-Day High 990.09 5-Day Low 974.10 2011 Div BR (%) (%)
20B 12.50 15B -
-
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Pak Tobacco Co. Shifa Int.Hospital Pak Hotels P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 46.97 2.3 110 5.65 134.87 83.36 32.22 30.5 2.12 33.29 2.01 20.38
High 45 2.4 108.01 6.25 131 87.52 33.45 29.9 2.19 32.03 2.09 20.79
Low Close 45 2.25 108 6 131 79.51 33.45 29.9 2.06 31.63 1.93 20.5
45 2.3 110 6.25 131 87.52 33.45 29.9 2.13 31.69 1.94 20.63
Change -1.97 0 0 0.6 -3.87 4.16 1.23 -0.6 0.01 -1.6 -0.07 0.25
Vol 500 47651 200 2500 209 1369 500 5000 14552 900 116873 295000
7
Tuesday, August 2, 2011 Atlas Insurance
FIXED LINE TELECOMMUNICATION
Central Insurance
Performance of SR Fixed Line Telecommunication Index Open 812.30 Turnover 4,119,183 P/E (x) 3.96 Paid up Cap(mn)
Company Pak.Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
PE
37740 10.21 3000 2.29 8606 6175 -
Open
High Low 828.56 793.18 Total cos Defaulter cos 5 P/BV (x) ROE (%) 0.51 12.84
High
12.71 1.36 1.65 1.90
Low
12.80 1.40 2.00 2.08
12.38 1.35 1.65 1.83
Close Chg 12.46 -0.25 1.35 -0.01 1.68 0.03 1.86 -0.04
Close 798.66 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 432711 57846 3628626 106101
Last 60 days High Low 17.70 1.94 2.50 2.97
Century Insurance
Change -13.64 Market cap 50,246.61 mn Div Yield (%) 15.81
12.35 1.30 1.61 1.80
% Change -1.68 5-Day High 812.30 5-Day Low 797.49
2010 Div BR (%) (%) 17.5 1 -
2011 Div BR (%) (%)
-
-
EFU General Insurance
443
3.61
29.50
29.39
29.05
29.06 -0.44
1561
29.68
26.00
391
1.27
58.16
59.00
57.00
58.16 0.00
219
75.00
57.00
457
4.26
8.11
8.00
7.66
7.66 -0.45
4700
8.85
7.50
1250 11.69
32.55
33.99
30.95
31.32 -1.23
20907
39.65
30.95
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Southern Electric Tri-star Power XD
198 11572 1560 7932 1695 126 8803 3673 3541 1367 150
Close 1,385.48 Listed cap 95,369.29 mn Payout (%) 104.13
Change 13.48 Market cap 112,693.11 mn Div Yield (%) 7.70
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.96 5.36 2.44 5.51 2.48 2.24 -
0.48 39.21 1.16 2.16 17.75 3.11 42.57 13.83 15.62 1.21 0.74
0.50 39.99 1.17 2.27 17.75 4.09 43.01 13.95 15.90 1.29 0.70
0.42 39.26 1.15 2.16 17.60 2.65 42.55 13.75 15.50 1.27 0.70
0.49 0.01 39.65 0.44 1.15 -0.01 2.19 0.03 17.74 -0.01 3.15 0.04 42.96 0.39 13.80 -0.03 15.69 0.07 1.28 0.07 0.74 0.00
27900 786918 20101 152242 43621 24823 70402 125500 46073 686 200
0.75 40.00 1.70 2.57 18.20 4.09 44.19 17.25 17.70 1.69 1.27
0.16 36.70 1.02 2.03 15.60 2.35 41.75 13.47 15.39 1.20 0.36
2010 Div BR (%) (%) 50 25 50 -
-
GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,256.84 Turnover 321,310 P/E (x) 8.12 Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 13.93 8390 4.56
Open
High Low 1,294.31 1,251.43 Total cos Defaulter cos 2 P/BV (x) ROE (%) 0.93 11.41
High
19.60 20.05
19.84 21.00
Low 19.48 20.00
Close Chg 19.50 -0.10 20.21 0.16
Close 1,258.65 Listed cap 12,202.80 mn Payout (%) 66.79
Volume 40511 280799
Last 60 days High Low 23.60 23.75
18.00 19.80
% Change 0.14 5-Day High 1,264.21 5-Day Low 1,254.99
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Open 1,098.55 Turnover 6,400,060 P/E (x) 7.11 Paid up Cap(mn)
Company Allied Bank Limited Askari Bank XB Bank Alfalah Bank AL-Habib Bank Of Khyber Bank Of Punjab BankIslami Pak Faysal Bank Habib Bank Ltd
8603 7070 13492 8786 5004 5288 5280 7327 11021 Habib Metropolitan Bank XB 10478 JS Bank Ltd 8150 KASB Bank LtdSPOT 9509 MCB Bank Ltd 8362 Meezan Bank XB 8030 National Bank 16818 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Stand Chart Bank 38716 Summit Bank Ltd 8701 United Bank Ltd 12242
PE
Open
5.39 63.39 4.99 11.01 5.37 10.22 6.09 28.80 1.96 4.50 6.38 10.00 3.71 4.47 9.94 7.56 120.00 5.36 18.85 46.00 2.20 1.36 7.32 186.43 5.52 18.00 4.22 53.88 1.42 21.38 1.69 14.69 2.31 2.41 4.97 6.21 7.70 3.15 5.43 60.69
High
High Low Close 1,121.08 1,084.24 1,094.89 Total cos Defaulter cos Listed cap 27 - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.99 13.94 40.49 Low
Close Chg
64.99 62.89 63.90 0.51 11.21 10.92 10.98 -0.03 10.45 10.20 10.21 -0.01 29.20 28.75 28.76 -0.04 4.40 3.75 4.40 -0.10 6.64 6.31 6.35 -0.03 3.71 3.70 3.70 -0.01 10.10 9.50 9.65 -0.29 122.99 120.51 121.09 1.09 19.20 18.55 18.67 -0.18 2.41 2.15 2.30 0.10 1.44 1.25 1.38 0.02 189.74 182.55 185.04 -1.39 19.00 18.50 19.00 1.00 55.16 53.42 53.65 -0.23 1.50 1.38 1.38 -0.04 1.71 1.68 1.71 0.02 2.49 2.30 2.35 0.04 4.91 4.80 4.82 -0.15 8.00 7.61 7.70 0.00 3.29 3.10 3.10 -0.05 62.00 60.60 60.84 0.15
Volume
Change -3.66 Market cap 657,149.76 mn Div Yield (%) 5.70
Last 60 days High Low
114495 68.99 57508 12.35 312149 11.02 78991 29.89 12865 6.20 720584 7.35 13034 4.09 390699 10.73 46748 123.88 9600 22.45 88427 3.00 13781 1.77 524121 210.95 578243 19.00 1536854 55.80 1383315 1.90 34102 2.18 101940 3.06 50120 6.69 315 9.20 24874 4.75 332169 65.01
60.50 10.79 9.42 28.25 3.75 5.00 3.25 9.00 114.10 17.00 2.05 1.25 182.55 16.60 49.51 1.37 1.62 2.26 4.80 7.52 2.67 59.65
% Change -0.33 5-Day High 1,126.50 5-Day Low 1,094.89
2010 Div BR (%) (%)
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 692.40 Turnover 189,506 P/E (x) 8.35 Paid up Cap(mn)
Company
Adamjee Insurance XD
1237
PE 6.09
Open 57.66
High 58.49
High Low 705.46 682.45 Total cos Defaulter cos 34 22 P/BV (x) ROE (%) 0.43 5.20 Low 56.16
Close Chg 56.75 -0.91
Close 687.46 Listed cap 11,111.34 mn Payout (%) 79.54
Volume 48491
Change -4.94 Market cap 43,623.20 mn Div Yield (%) 9.53
Last 60 days High Low 69.90
56.02
% Change -0.71 5-Day High 716.78 5-Day Low 687.46
2010 Div BR (%) (%) 25
2011 Div BR (%) (%)
-
-
-
-
Open
High
Low
Close
AASM
26.37
27.63
27.63
26.37
0.00
100
-
-
BWHL
29.00
29.99
29.99
29.00
0.00
100
-
-
KTML
3.21
3.14
3.14
3.21
0.00
100
55B 10.00
-
QUAT
19.00
18.00
18.00
19.00
0.00
100
DYNO
9.90
10.49
10.00
9.90
0.00
97
0.00
95
Symbols
Change
Vol
11.00 0.76
1000
11.89
10.10
25 12.5B
IGI Insurance
970
5.96
71.19
72.01
71.01
72.00 0.81
13150
76.12
67.00
30
3000
5.38
15.46
15.85
15.46
15.49 0.03
96651
18.30
14.75
30
-
-
-
MBF
10.11
10.22
10.22
10.11
Premier Insurance
303
3.57
7.83
8.19
8.00
8.00 0.17
1523
8.99
7.60
25
-
-
-
PMPK
158.00
153.55
150.10
153.55
-4.45
Universal Insurance
263
-
1.55
1.61
1.61
1.61 0.06
1250
2.24
1.32
-
-
-
-
COLG
737.24
750.00
749.99
750.00
12.76
89
RCML
26.00
24.70
24.70
26.00
0.00
60
Pak Reinsurance
LIFE INSURANCE
CSIL
Open 902.35 Turnover 553 P/E (x) 5.22 Company
High Low 914.78 889.43 Total cos Defaulter cos 4 P/BV (x) ROE (%) 3.40 3.85
Close 884.18 Listed cap 2,290.72 mn Payout (%) 355.53
Change -18.17 Market cap 9,831.33 mn Div Yield (%) 4.02
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
850
9.17
67.42
68.10
65.10
65.27 -2.15
552
73.25
EFU Life Assurance
54.90
2010 Div BR (%) (%) 50
3.48
1.48
2.48
0.00
53
54.25
54.00
53.99
54.25
0.00
51
GLPL
57.12
54.27
54.27
57.12
0.00
30
% Change -2.01 5-Day High 925.96 5-Day Low 884.18
SANSM
12.23
12.20
12.20
12.23
0.00
30
JDWSR1
13.17
12.52
12.17
25
2011 Div BR (%) (%)
SASML
-
-
-
7.99
-0.01
25
66.21
68.00
0.00
23
38.66
38.62
40.65
0.00
23
GRAYS
39.78
38.00
38.00
39.78
0.00
20
7.00
7.05
7.05
7.00
0.00
20
KOSM
1.20
1.35
1.35
1.20
0.00
17
PSYL
19.73
19.00
18.74
19.73
0.00
17
ICIBL
0.38
0.40
0.34
0.38
0.00
13
FZTM
305.00
305.00
289.75
305.00
0.00
12
39.00
0.00
12
30.00
28.50
28.50
30.00
0.00
10
Performance of SR Financial Services Index
142.50
140.00
140.00
142.50
0.00
10
UPFL
1692.17
1608.01
1608.00
1692.17
0.00
10
SALT
61.75
58.76
58.76
61.75
High Low 286.60 270.50 Total cos Defaulter cos 41 6 P/BV (x) ROE (%) 0.16 0.91
Close 274.59 Listed cap 30,336.44 mn Payout (%) 99.56
Change -0.83 Market cap 13,584.31 mn Div Yield (%) 5.79
Last 60 days High Low
% Change -0.30 5-Day High 287.32 5-Day Low 274.59
PE
Open
High
Low
Close Chg
0.83
0.39
0.47
0.37
0.40 0.01
5203
0.64
0.26
-
-
-
-
Arif Habib Investments
360
4.96
18.50
19.50
18.00
19.45 0.95
1101
23.25
18.00
-
20B
-
-
Arif Habib Limited
450 18.21
17.02
18.02
17.04
17.30 0.28
6361
20.20
14.00
-
20B
-
39.00
27.02
27.75
27.07
27.12 0.10
828542
29.24
20.53
30
Volume
2010 Div BR (%) (%)
2011 Div BR (%) (%)
40.00
38.61
0.00
9
FECTC
4.95
5.20
4.50
4.95
0.00
7
CHAS
9.90
10.25
10.25
9.90
0.00
5
CPMFI
2.91
3.00
3.00
2.91
0.00
5
28.01
28.26
28.26
28.01
0.00
4
2.35
2.60
2.25
2.35
0.00
4
DLL DWSM SGPL
0.00
3
CJPL
1.18
1.00
0.60
1.18
0.00
2
DINT
34.50
35.25
35.00
34.50
0.00
2
DWAE
1.12
0.90
1.74
1.11
0.51
1.11
1.12
0.90
0.00
2
FCONM
1.27
1.89
1.89
1.27
0.00
2
FDMF
2.23
2.35
2.35
2.23
0.00
2
-
FNEL
2.01
2.74
2.74
2.01
0.00
2
0.76
0.76
1.00
0.00
2
0.97
0.97
0.65
0.00
2
-
FPJM
1.00
MODAM
0.65
250
-
1.20
1.44
1.20
1.20 0.00
508
1.80
1.01
-
-
-
-
PAKMI
1.00
1.15
2121
7.63
1.45
1.50
1.45
1.45 0.00
10004
1.99
1.05
-
-
-
-
PICTPS
9.99
10.95
9.00
9.99
0.00
2
SCLL
2.21
2.70
2.70
2.21
0.00
2
STPL
8.62
8.60
8.60
8.62
0.00
2
1.00
1.49
0.31
1.00
0.00
2
3750
3.63
600 18.92
Ist Cap Securities
7.00
70.00
40.65
ICL
225
Invest and Fin Sec
7.99
68.00
PMRS
PSEL
Paid up Cap(mn)
Dawood Equities
-0.65
8.00
NATF
SNAI
AMZ Ventures
IGI Investment Bank
12.52
MOON
FINANCIAL SERVICES Open 275.42 Turnover 1,569,950 P/E (x) 11.48 Company
95
2.48
MRNS
Performance of SR Life Insurance Index
3166
-
626
0.65
-
-
7.38
7.00
6.55
7.00 -0.38
700
9.29
6.55
11.5
-
-
-
2.78
2.95
2.49
2.76 -0.02
27129
3.24
2.22
-
10B
-
-
TSMF
-
ATEL
1.15
1.00
0.00
2
1.30
-
43.54
45.64
45.64
43.54
0.00
1
DREL
575.00
550.00
550.00
575.00
0.00
1
Jah Siddiq Co
7633
-
6.81
7.08
6.70
6.78 -0.03
1325740
8.34
6.11
10
-
-
-
FRCL
2.56
2.04
2.04
2.56
0.00
1
JOV and CO
508
-
2.54
2.74
2.53
2.54 0.00
37898
3.40
2.45
-
-
-
-
GAIL
3.32
3.60
3.60
3.32
0.00
JS Investment
1000 40.00
5.00
5.10
4.75
4.80 -0.20
87116
6.43
4.10
-
-
-
-
KASB Securities
1000
3.38
3.75
3.30
3.50 0.12
14077
4.79
2.65
-
-
-
-
Symbols
Open
-
NML-AUG
47.84
FFBL-AUG
47.09
ENGRO-AUG 144.14
Ist Dawood Bank
1.45
-
775
5.14
1.40
1.49
1.43
1.50
1.44 -0.01
1.39
1.44 0.04
806
1.96
48541
1.99
1.32
-
-
-
-
-
Saudi Pak Leasing
452
-
0.79
1.19
0.70
0.79 0.00
152
1.48
0.51
-
-
-
-
Sec Inv Bank
514
3.25
1.30
1.30
1.25
1.30 0.00
272
2.99
1.25
-
-
-
-
Security Leasing
363
-
2.04
2.10
2.10
2.04 0.00
442
2.25
1.50
-
-
-
-
Trust Inv Bank
586
0.28
1.00
1.68
1.12
1.12 0.12
3883
2.29
0.83
-
-
-
-
EQUITY INVESTMENT INSTRUMENTS
2011 Div BR (%) (%)
40 10B 25.00 - 10B 20 20B -64.41R - 20B 65 10B - 20B - 33R -105.16R 115 10B 60.00 - 15B 75 25B -154.79R -63.46R - 311R 6 - 20R 50 - 15.00 -
-
-
-
10.98
Pervez Ahmed Sec
Performance of SR Banks Index
-
-
11.00
Arif Habib Corp
Change 1.81 Market cap 27,663.10 mn Div Yield (%) 8.22
50B
10
10.24
2011 Div BR (%) (%)
- 25.00 7.8R - 10.00 - 30.00 - 10.00 -
25 12.5
7.64
-
% Change 0.98 5-Day High 1,390.34 5-Day Low 1,366.36
-
450
ELECTRICITY High Low 1,397.57 1,372.09 Total cos Defaulter cos 15 1 P/BV (x) ROE (%) 1.26 9.35
20B
Habib Insurance
Performance of SR Electricity Index Open 1,371.99 Turnover 1,298,469 P/E (x) 13.52
-
UPTO 100 VOLUME
40
Performance of SR Equity Investment Instruments Index Open 1,529.87 Turnover 462,173 P/E (x) 17.24
High Low 1,566.87 1,509.09 Total cos Defaulter cos 52 11 P/BV (x) ROE (%) 0.38 2.21
Close 1,528.89 Listed cap 29,771.58 mn Payout (%) 104.74
Change -0.98 Market cap 19,400.24 mn Div Yield (%) 9.44
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
264
-
1.50
1.70
1.40
1.40 -0.10
584
2.00
1.25
B R R Guardian Modaraba780
2.45
2.71
2.75
2.35
2.35 -0.36
502
2.90
Crescent St Modaraba
3.79
0.43
0.54
0.53
0.53 0.10
511
0.89
Company 1st Fid Leasing
Elite Cap Modaraba
200 113
3.60
3.53
3.60
2.55
2.59 -0.94
Last 60 days High Low
Volume
5192
% Change -0.06 5-Day High 1,537.42 5-Day Low 1,528.89
2010 Div BR (%) (%)
2011 Div BR (%) (%)
-
-
-
-
1.41
0
-
-
-
0.30
1.2
-
-
-
3.89
2.10
Equity Modaraba
524
6.53
1.24
1.69
1.10
1.24 0.00
401
1.90
1.07
-
-
-
-
Golden Arrow
760
2.21
3.36
3.40
3.34
3.34 -0.02
95568
3.72
3.11
17
5
-
-
-
-
-
-
H B L Modaraba
397
3.59
7.89
8.05
7.01
7.32 -0.57
58744
8.44
7.01
11
-
-
-
Habib Modaraba
1008
5.73
8.09
8.25
7.90
7.91 -0.18
11093
8.50
7.32
21
-
22
-
I B L Modaraba
202
1.69
1.35
1.16
1.15
1.15 -0.20
100000
2.45
1.06
3
-
-
-
JS Growth Fund
3180
2.13
6.20 0.20
1242
7.40
5.32
12.5
-
-
-
JS Value Fund
1186
0.53
5.19
5.20
5.00
5.00 -0.19
98366
6.10
4.91
10
-
5.00
-
59
6.55
11.25
11.99
11.99
11.99 0.74
3500
11.99
9.00
18
-
-
-
PICIC Energy Fund
1000
2.14
7.10
7.25
7.00
7.24 0.14
17600
8.25
6.80
10
- 10.00
-
PICIC Growth Fund
2835
2.67
12.95
13.35
13.00
13.00 0.05
59025
13.84
12.51
20
- 12.50
-
PICIC Inv Fund
2841
2.34
5.83
6.20
5.90
5.92 0.09
891
6.95
5.45
10
-
7.50
-
Prud Modaraba 1st
872
1.78
0.98
0.98
0.85
0.98 0.00
301
1.05
0.75
3
-
-
Stand Chart Modaraba
454
5.54
10.05
10.49
10.00
10.02 -0.03
5040
11.00
9.50
17
-
-
-
Tri-Star 1st Modaraba
212 27.50
1.55
1.69
0.55
0.55 -1.00
1001
2.00
0.55
-
-
-
-
U D L Modaraba
264
6.75
6.80
6.75
6.75 0.00
2500
7.49
6.31
12.5
-
7.50
-
Paramount Modaraba
6.00
2.31
6.20
5.75
-
1
FUTURE CONTRACTS High
46.50
Close
Change
46.68
Vol
-1.16
719000
47.52
47.00
47.13
0.04
443500
147.98
142.25
143.09
-1.05
405500
22.77
23.26
22.90
23.08
0.31
364000
POL-AUG
361.13
369.00
363.00
365.32
4.19
285500
FFC-AUG
161.15
164.48
162.66
163.76
2.61
197500 181500
DGKC-AUG
48.70
Low
NBP-AUG
54.41
55.50
54.00
54.14
-0.27
MCB-AUG
188.53
191.00
185.00
186.64
-1.89
160500
ATRL-AUG
126.38
129.00
126.60
127.70
1.32
106500
LUCK-AUG
73.60
74.65
73.61
73.92
0.32
95000
PPL-AUG
210.66
213.25
212.50
213.07
2.41
53500
PTC-AUG
12.80
12.85
12.55
12.55
-0.25
3000
MTS LEVERAGE POSITION Symbol AHCL AICL AKBL ANL ATRL BAFL DGKC ENGRO FFBL FFC HUBC KAPCO LOTPTA LUCK MCB NBP NCL NETSOL NML OGDC PAKRI POL PPL PSO PTC SSGC UBL Total
Total Volume 729,936 14,610 328,832 221,153 13,437 888,872 464,408 52,614 96,250 70,500 77,000 49,375 2,123,729 196,000 14,881 422,454 211,239 7,500 251,763 500 241,286 14,000 2,768 21,459 29,430 3,000 131,686 6,678,682
Total Value 14,305,232 632,132 2,735,967 982,034 1,262,032 6,729,386 7,917,050 5,696,243 3,164,735 8,366,274 2,257,452 1,602,281 19,487,965 10,746,315 2,101,839 16,671,867 3,121,344 115,657 9,069,611 56,951 2,826,651 3,784,498 436,209 4,050,088 277,093 45,065 5,995,279 134,437,248
MTS Rate -
BOARD MEETINGS
Fauji Fertiliser Co
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
45.79
Support 1
12,185.50
MA (5-day)
12,234.28
Support 2
12,117.65
MA (10-day)
12,339.41
Resistance 1
12,326.15
MA (100-day)
12,084.92
Resistance 2
12,398.85
MA (200-day)
11,866.12
Pivot
12,258.25
KSE 100 INDEX closed up 63.02 points at 12,253.39. Volume was 43 per cent below average and Bollinger Bands were 3 per cent narrower than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,326.15 and 2nd resistance level at 12,398.85, while Index will continue to find its 1st support level at 12,185.50 and 2nd support level at 12,117.65. KSE 100 INDEX is currently 3.3 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bearish on INDEX.
165.3
TFD Research
164.95
Brokerage House
Buy
Brokerage House AKD Securities Ltd
Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
57.36 MTS Shares `000 70.50 163.59 MTS Rs `000 8,366.27 144.27 MTS Rate 134.90 ** NOI Rs (mn) 153.13 Free Float Shares (mn) 466.49 Free Float Rs (mn) 75,720.23 Target price for Dec-11 & **Net Open Interest in future market
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
26.93 50.28 58.36 59.64
the average volatility over the last 10 trading sessions. Volume indi-
pace. Trend forecasting oscillators are currently bullish on FFC.
Brokerage House
Buy
Arif Habib Ltd
Buy
AKD Securities Ltd
Leverage Position
251.763 9,069.61 59.25 8,148.33
Target price for Dec-11 & **Net Open Interest in future market and Bollinger Bands were 13 per cent wider than normal.
Neutral
Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
66.86 MTS Shares `000 96.25 47.01 MTS Rs `000 3,164.74 42.54 MTS Rate 39.74 ** NOI Rs (mn) 80.76 Free Float Shares (mn) 326.94 Free Float Rs (mn) 15,362.84 Target price for Dec-11 & **Net Open Interest in future market
Bollinger Bands were 75 per cent wider than normal.
reflect volume flowing into and out of NML at a relatively equal pace. Trend volatility over the last 10 trading sessions. Volume indicators reflect modis currently indicating that NML is currently in an oversold condition.
Target Price
Recommendations
65
Buy
64.99
Buy
Brokerage House
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
52.05 MTS Shares `000 422.454 54.13 MTS Rs `000 16,671.87 55.04 MTS Rate 63.48 ** NOI Rs (mn) 90.57 Free Float Shares (mn) 398.12 Free Float Rs (mn) 21,359.26 Target price for Dec-11 & **Net Open Interest in future market
Target Price
tors are currently bullish on FFBL.
Dera Ghazi Khan Cement Co Ltd
Lucky Cement Ltd
Recommendations
Brokerage House
97.7
Buy
Arif Habib Ltd
AKD Securities Ltd
87.61
Buy
AKD Securities Ltd
TFD Research
84.65
Positive
TFD Research
Arif Habib Ltd
Technical Outlook
Technical Outlook 19.79 MTS Shares `000 52.614 148.53 MTS Rs `000 5,696.24 185.41 MTS Rate 191.71 ** NOI Rs (mn) 288.47 Free Float Shares (mn) 176.98 Free Float Rs (mn) 25,086.61 Target price for Dec-11 & **Net Open Interest in future market
Neutral
cators reflect volume flowing into and out of FFC at a relatively equal forecasting oscillators are currently bearish on NML. Momentum oscillator erate flows of volume into FFBL (mildly bullish). Trend forecasting oscilla-
Recommendations
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Sell
47.75
Technical Outlook
Leverage Position MTS Shares `000 MTS Rs `000 MTS Rate ** NOI Rs (mn) Free Float Rs (mn)
Free Float Shares (mn) 175.80
Recommendations
42.2 45.52
TFD Research
Technical Outlook Technical Analysis
Target Price
AKD Securities Ltd
the average volatility over the last 10 trading sessions. Volume indicators
224
Positive
Brokerage House Arif Habib Ltd
Buy
FFC is currently 20.1 per cent above its 200-day moving average NML is currently 22.3 per cent below its 200-day moving average and is FFBL is currently 18.0 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to and is displaying an upward trend. Volatility is high as compared to displaying an upward trend. Volatility is low as compared to the average
195.41 245.95
Recommendations
68.95
FFC closed up 2.46 at 162.32. Volume was 18 per cent above aver- NML closed down -1.04 at 46.35. Volume was 58 per cent above average FFBL closed up 0.17 at 46.99. Volume was 22 per cent below average and age and Bollinger Bands were 66 per cent wider than normal.
Target Price
TFD Research
Target Price
Neutral
National Bank of Pakistan
AKD Securities Ltd
Technical Analysis
Recommendations
Technical Outlook
Engro Corporation
Arif Habib Ltd
Target Price
Arif Habib Ltd
Fauji Fertiliser Bin Qasim Ltd
Nishat Mills Ltd
Technical Analysis
Leverage Position
56.89 MTS Shares `000 196.00 73.17 MTS Rs `000 10,746.31 70.57 MTS Rate 71.56 ** NOI Rs (mn) 175.99 Free Float Shares (mn) 129.35 Free Float Rs (mn) 9,494.29 Target price for Dec-11 & **Net Open Interest in future market
Recommendations
29
Buy
28.72
Buy
30.6
Positive
Technical Outlook
Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Target Price
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
45.79 23.13 23.57 25.94
MTS Shares `000 464.408 MTS Rs `000 7,917.05 MTS Rate ** NOI Rs (mn) 77.72 Free Float Rs (mn) 4,594.41 Target price for Dec-11 & **Net Open Interest in future market
Free Float Shares (mn) 200.80
ENGRO closed down -1.14 at 141.75. Volume was 2 per cent below aver- NBP closed down -0.23 at 53.65. Volume was 4 per cent below average LUCK closed up 0.28 at 73.40. Volume was 14 per cent above average DGKC closed up 0.30 at 22.88. Volume was 49 per cent below average (conage and Bollinger Bands were 9 per cent wider than normal. solidating) and Bollinger Bands were 38 per cent narrower than normal. and Bollinger Bands were 43 per cent narrower than normal. and Bollinger Bands were 72 per cent narrower than normal. ENGRO is currently 26.0 per cent below its 200-day moving average and is NBP is currently 15.4 per cent below its 200-day moving average and is LUCK is currently 2.6 per cent above its 200-day moving average and is DGKC is currently 11.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the displaying an upward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is relatively normal as compared to
average volatility over the last 10 trading sessions. Volume indicators reflect
the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators volume flowing into and out of ENGRO at a relatively equal pace. Trend forecasting oscillators are currently bearish on ENGRO. Momentum oscillator is reflect moderate flows of volume into NBP (mildly bullish). Trend forecast- reflect moderate flows of volume into LUCK (mildly bullish). Trend forecast- reflect volume flowing into and out of DGKC at a relatively equal pace. Trend forecasting oscillators are currently bullish on DGKC. ing oscillators are currently bullish on LUCK. ing oscillators are currently bullish on NBP. currently indicating that ENGRO is currently in an oversold condition.
Company
Date
Time
Rafhan Maize Products Ltd Nestle Pakistan Ltd Leather up Ltd International Steels Ltd Pakistan Petroleum Ltd Unilever Pakistan Ltd International Industries Ltd Unilever Pakistan Foods Ltd BOC Pakistan Ltd Pakgen Power Ltd Bata Pakistan Ltd Tri-Pack Films Ltd Packages Ltd Indus Motor Company Ltd Kot Addu Power Company Ltd Shabbir Tiles & Ceramics Ltd Dynea Pakistan Ltd
03-Aug 03-Aug 03-Aug 08-Aug 08-Aug 09-Aug 11-Aug 11-Aug 12-Aug 12-Aug 18-Aug 22-Aug 23-Aug 24-Aug 05-Sep 06-Sep 08-Sep
14:00 10:00 12:30 10:00 10:30 10:30 10:00 14:30 15:00 10:00 11:00 11:30 11:30 10:00 13:00 15:00 10:00
TECHNICAL LEVELS Company Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Corp Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 42.20 2.35 2.30 52.35 62.85 61.85 41.82 47.85 47.65 55.91 26.85 26.65 42.59 16.90 16.45 16.79 55.75 54.80 40.65 10.85 10.75 50.28 5.95 5.85 28.23 362.15 359.90 47.16 125.40 124.30 48.10 10.15 10.05 47.08 3.55 3.45 44.37 6.20 6.10 38.62 1.40 1.35 45.76 22.65 22.45 26.79 2.15 2.10 49.25 2.25 2.15 27.33 30.20 29.05 36.02 64.20 63.15 19.82 139.70 137.65 47.98 9.40 9.15 35.04 3.90 3.85 66.84 46.65 46.30 57.35 161.35 160.40 58.72 120.05 119.05 62.54 39.25 38.90 47.98 153.70 152.90 33.59 204.65 204.35 42.13 2.45 2.40 47.08 1.10 1.05 51.47 2.15 2.05 44.21 6.60 6.45 54.90 42.65 42.40 50.02 2.15 2.10 32.77 12.20 12.10 56.87 72.95 72.50 26.58 181.80 178.60 42.75 2.00 1.95 52.02 53.00 52.35 27.82 19.50 19.25 44.86 20.50 20.35 32.38 1.35 1.30 54.28 3.00 2.90 26.94 45.40 44.50 56.67 153.20 150.90 32.98 1.90 1.85 45.45 1.40 1.35 44.08 2.05 2.00 35.97 4.70 4.65 44.14 359.80 356.65 51.12 210.70 209.75 44.71 63.45 63.20 25.64 240.50 235.30 23.54 12.30 12.15 40.68 218.70 217.40 39.63 19.40 19.25 38.09 16.00 15.85 40.72 19.80 19.40 33.40 1.30 1.25 30.25 2.25 2.15 43.62 60.30 59.75 27.84 1.55 1.45
1st
2nd
Resistance 2.55 2.70 64.95 66.05 48.35 48.70 27.55 28.00 17.85 18.45 58.10 59.45 11.15 11.35 6.20 6.35 368.05 371.65 127.80 129.10 10.40 10.55 3.75 3.85 6.55 6.75 1.65 1.85 23.15 23.45 2.25 2.30 2.45 2.55 33.25 35.15 67.20 69.15 145.15 148.55 10.00 10.35 4.00 4.05 47.45 47.85 163.35 164.35 122.55 124.00 40.00 40.35 155.65 156.80 206.65 208.30 2.65 2.80 1.20 1.25 2.45 2.55 7.00 7.25 43.15 43.30 2.25 2.30 12.45 12.60 74.15 74.95 189.00 192.95 2.10 2.15 54.75 55.80 20.25 20.75 20.80 20.95 1.45 1.55 3.15 3.25 47.75 49.20 157.55 159.70 2.05 2.15 1.50 1.55 2.20 2.25 4.80 4.85 366.35 369.70 212.55 213.45 64.25 64.80 255.45 265.15 12.70 12.95 221.60 223.25 19.75 19.95 16.40 16.65 20.80 21.40 1.40 1.45 2.40 2.45 61.70 62.55 1.90 2.15
Pivot 2.50 63.95 48.15 27.30 17.45 57.15 11.05 6.10 365.75 126.70 10.30 3.65 6.45 1.60 22.95 2.20 2.35 32.10 66.15 143.10 9.75 3.95 47.05 162.35 121.55 39.65 154.85 206.35 2.60 1.15 2.30 6.85 42.85 2.20 12.35 73.70 185.80 2.05 54.10 20.00 20.65 1.40 3.10 46.85 155.30 2.00 1.45 2.15 4.75 363.15 211.60 64.00 250.25 12.55 220.30 19.60 16.25 20.40 1.35 2.30 61.15 1.80
8
Tuesday, August 2, 2011
Shell Pak, Mobilink, announce lucky draw winners
Huawei funds UET Lhr for Datacom Trainings LAHORE: Huawei has granted UET Lahore the Authorized Learning Partner status for Datacom Networking Training and Certification. Huawei under this contract is providing its latest networking equipment to UET Lahore worth $0.5 million. A graceful ceremony took place in UET Lahore where Federal Secretary Ministry of IT and Telecom Saeed Ahmed Khan, Chief Technology Officer Huawei, Collin Hu, Advisor Huawei Nasim Ahmed Usmani, Vice Chancellor UET Lahore Let Gen Muhammad Akram Khan, Deans of Faculties & Professors from UET, Lahore and other dignitaries were present. Director Huawei-UET Telecom and IT Center Dr Waqar Mahmood briefed the audience with regards to Huawei-UET Telecom Center established with the help of $8 million worth of equipment from
ISPs take on the celcos KARACH: A few years ago, a report in Newsweek analyzed Pakistan to have the largest WiMAX footprint in the world. This was the era of the Wateen push, with its devices landing in every nook and corner of the nation. PTCL jumped on the bandwagon, as did other smaller operators like WorldCall. Then it was wi-tribe, Qubee and Infinity, making the nation an army of wireless internet users, with the word 'dongle' becoming a part of the daily speech. However, like the mobile operators, there was only so much market to be covered. After all, while we would like to have our rural areas as developed and functional as the urban, the cost of internet remains a luxury for the masses. It is in this crowded market that most ISPs have to seek diversified streams of revenue. The recent launch of tablet devices by wi-tribe showcases a change in thinking by the company. Instead of merely giving services, it has bundled devices for those services to provide a complete experience. The celcos have been doing similar things with tablets and smartphones; however, the contrast comes in the bandwidth that either can provide to the consumer. For mobile operators, data traffic travels on the same bandwidth available to the company for voice services. Hence, speeds rarely reach the point of scarily beautiful. For the ISPs this facet is different, as their bandwidth is entirely a data traffic expressway.
Huawei Technologies. The Center is now the largest training facility of its kind from Huawei Technologies China, in Pakistan. The center has been providing trainings in the latest wireless equipment to industry professionals and students of universities from all over Pakistan. Huawei also decided to grant HUTIC the Huawei Authorized Learning Partner status for the networking training and certification in Pakistan. Vice Chancellor UET Lahore welcomed guests from China and briefed audience with regards to UET long standing relationship with Huawei Technology. The company selected UET for setting up the telecom center after evaluating various engineering institutes in the country. UET provided spacious facility for the center and promises more lab space for its expansion.
Chief Guest, Saeed Ahmed Khan, Federal Secretary, Ministry of IT and Telecom highly appreciated the efforts of Huawei and UET Lahore in bringing the latest technology in the academic setting making it available for students from all over Pakistan. The contribution of Huawei to the telecom industry and now the enterprise market in Pakistan is of great importance. The establishment of Datacom centre and UET status of Authorized Learning Partner will further promote the technology transfer objective of this centre. The ministry of IT & Telecom will support and encourage other universities and equipment vendors to initiate such ventures. This will eventually accelerate the provision of competitive and skilled students and professionals, to the IT & Telecom industry. -Agencies
SMS volumes to cross 10tn by '15 ISLAMABAD: Trend of Short Message Service (SMS) is growing fast among youth in Pakistan and it is estimated that SMS traffic will grow double in coming four years and the volume of messages will double to 10 trillion by 2015. Pakistan enjoys largest text messaging in Asia and around 151.6385 billion text messages were exchanged during the Y2009, which is 1532 (SMS) per subscriber, while the messages exchanged from July-Sep 2010 were 48,846 million. Pakistan has seen a stunning and remarkable growth in both, the mobile subscriber base and the SMS traffic during the past few years and the mobile subscriber base is touching the figure of 100 million by the last quarter of 2010. Around the world, SMS is
used by four billion mobile users, who sent five trillion messages in 2009 which is approximately 105 SMS, per person per month, which are less than 128 SMS per person exchanged per month in Pakistan. According to report of I n t e r n a t i o n a l Telecommunication Union (ITU), in Y2010, a total of 6.1 trillion SMS have been exchanged worldwide from 5.3 billion mobile cellular subscriptions worldwide, including 940 million subscriptions to 3G services, which has jumped from 1.8 trillion SMS in the Y2007. According to officials in Pakistan Telecommunication Authority (PTA), text messaging has leapt three folds in the past three years, with almost 200,000 text messages
exchanged every second. According to ITU, the globe is currently earning 14,000 dollars every second from SMS that is, assuming an average cost of USD 0.07 per SMS, in 2010 SMS is generating an estimated $812,000 every minute from 5.3 billion users. Much of the consistent growth of SMS is due to its ever widening adoption beyond peer-to-peer messaging such as banking, social networking, enterprise applications, advertising and machine to machine communication. According to a recent survey, global mobile banking services will be generating 90 billion text messages per annum by 2015, as banks seek to utilize SMS as a means of enhancing customer communications and services. -APP
India adds 60mn cell-users in 3M NEW DELHI: Indian telecom companies added nearly 60 million mobile users in three months, taking the country's number of wireless subscribers to nearly 812 million, official data showed. India is the world's fastest-growing cellular market and second largest after China with over a dozen operators competing for millions of new customers each month. The country's mobile base grew by 7.9 percent to 811.59 million during the January-March financial quarter from 752.19 million at the end of December 31, 2010, the Telecom Regulatory Authority of India (Trai) said. The number of telephones per 100 people -- now has reached 70.89, Trai said. The total telecom subscriber base including fixed lines touched 846.32 million for the quarter. During the January-March quarter, telephone subscription in urban areas increased to 564.08 million, while rural subscriptions grew to 282.23 million. The total Internet subscriber base grew more than five percent to 19.67 million from the previous quarter, the figures showed. The government says boosting telecommunications use is key to India's socio-economic development, especially in poverty-hit rural areas where penetration is still low. -APP
LAHORE: Mobilink and Shell Pakistan Ltd jointly announced the winners of the 6th to 9th lucky draws for their joint promotional campaign which offered its respective customers a chance to participate and win a multitude of prizes. In the ceremony 4 tractors and 40 motorcycles were given away via the lucky draws. Basharat Ali from Mohalla Millat Town, Hafizabad, who won one of the tractors under the Shell Rimula-Jazz campaign commented "I am still unable to believe that I won a tractor. Thank you Mobilink and Shell for this great prize''. Akramullah from Ghoriwala Bannu expressed his happiness: "I am extremely delighted and thankful to Shell Pakistan and Mobilink that through this campaign I have become owner of a brand new tractor. This is indeed a dream come true". The winners of the 4 brand new tractors in the lucky draw were Basharat Ali from Mohalla Millat Town, Hafizabad; Akramullah from Ghoriwala Bannu; Imtiaz Hussain from Lodhran and Aatir Ghani from Zila Gujranwala; while 40 others were also given motorcycles. The winners were announced at a colorful ceremony held at a local Restaurant in Lahore and were attended by officials from both companies. The ceremony marked the end of the Shell RimulaMobilink joint campaign. Initiated throughout Pakistan by Shell Pakistan Ltd and Mobilink, the joint promotional campaign aimed to provide an opportunity to win multitude of prizes on purchase of one or more Shell Rimula lubricant packs and sending the valid unique codes provided on the packs through a Mobilink Jazz subscription service to 660. 50 motorcycles and 6 tractors have previously been given away through the lucky draws of Mobilink-Shell joint promotional campaign till date. -NNI
PTA blocks 16mn unregistered SIMs ISLAMABAD: Chairman Pakistan Telecommunication Authority (PTA) Dr Yaseen has said that some 16 million unregistered mobile SIMS have been blocked in the country. While talking to the media on Thursday at Parliament House , Dr Yaseen said that more than 1.6 million unregistered SIMS have been blocked and the law enforcing agencies have gravely benefitted from this as due to this not only the rate of terrorism and crime has been dropped reasonably in the country obnoxious calls have also reduced by 30 percent. He told the reporters that telecom companies owe Rs 38 billion to the government for which case are laying pending in the courts. The total number of cellular consumers has reached to 110 million", he said. He said that according to the law any citizen can keep up to 10 SIMS at a time in his name. Some people have contacted to restore their blocked SIMS but these will be reactivated after verification of their track record. Now it has been decide to computerize the record of sales of SIMS so that the entire data could be monitored at the time of SIM purchase. -Online
Cellular services launched in Neelum Valley M U Z A F FA R A B A D : Chairman Pakistan Telecommunication Authority (PTA) Dr Mohammed Yaseen visited Special Communication Organization (SCO) Sector Headquarter, Muzzaffarabad to launch "Cellular Village Connection Trial" in Neelum Valley of Azad Kashmir. On this occasion, the SCO sector Commander Col Shafqat gave briefing to Chairman PTA on starting of cellular services by SCO in the Neelum Valley. After the visit Prime Minister Syed Yousuf Raza Gilani of the Neelum Valley, PTA initiated the CVCT plan, which is the first one of its kind in the entire region. PTA responded very effectively and swiftly to the directions of PM of Pakistan and popular demand of masses of the area and initiated this plan of trials by offering cellular operators of AJK to participate in cellular village connection trial (CVCT). The PTA will act as a facilitator between SCO and Huawei to carry out a GSM cellular village connection trial in Neelum Valley, Azad Jammu and Kashmir initially on trial basis for sixth months. After this trial service, it will only be continued in the areas which will be identified as secure for such services based on the lessons learnt from the trial. This plan of the PTA is a
unique model which will educate the industry of secure border communications. During his visit Chairman PTA said that elaborate efforts are being made to provide enhanced telecom services including mobile and fixed communications to the people of Neelum Valley. Chairman said that with the help of operators PTA is making efforts to provide better telecom services to the far flung areas of the country. He showed satisfaction on the launch of mobile services in Neelum Valley on trial basis and hoped that by the beginning of the next year complete GSM mobile services would be available to the people of the valley. Dr Mohammed Yaseen said that the cellular village connection is a new concept which is especially designed to expand cellular services in those areas where it is not possible to provide these services due to tough terrain, closed proximity with the borders areas, feasibility concerns, low population, cost of deployment and year round maintenance etc. The Sector Commander SCO also said that the successful launching of this trial plan depicts the deep concern and firm commitment of PTA towards the expansion of cellular services throughout the Pakistan particularly the remote rural areas and far flung border areas.-Agencies
Quandary for 3G in Pak continues KARACHI: Another month goes by and the debate over the sale of 3G licenses gets a headline. For a country that led the region in terms of GSM implementation, we have taken our usual approach to life by settling into a silo and remaining comfortable with what is there. Across the border, 3G will celebrate a year of operation by the time the clock strikes 2011 out. And this is the same country where MNP (mobile number portability) was the biggest rollout of 2010. It is hard for a balanced comparison to be made on Pakistan's cellular industry with the surrounding nations. Factors like population and GDP vary in large proportions. Take cellular penetration as an example; both India and Pakistan officially report a 60 to 65% mobile communication uptake, but that percentage represents almost 600 million subscribers for the former and just 105 million for the latter. Out of all these subs, Pakistan reports only 5% to be data users, whether utilizing Blackberry services or GPRS/EDGE. Across the border, Vodafone India alone has 26 million data subscribers. Moving to factors like economy and social setting, the climate for investment is greatly hampered in Pakistan. The boom times of 2005 to 2008 cannot be replicated and the local cellular companies are well aware of the reduced returns on any capital expenditure. With all the operators being under foreign ownership in
some way or form, the current strategy seems to be aligned towards reducing costs and extracting as much profit out of the re-milked cow of a consumer. But the mobile communication industry is a rapidly innovating one, which has moved leaps and bounds in the last decade. Even the African continent has been at the forefront of the bandwagon, in spite of the lack of development in other sectors. The consumer perspective in Pakistan is to question the reluctance of the operators to innovate and remain at par with international standards, on both voice packages as well as faster data options. The operator response is to question the high cost of licenses and infrastructure, as well as the lack of high-paying customers in a country where the ARPU is under $3. What has eventuated is a stalemate. The lack of alternative options by the PTA, which appears resigned to using the telecommunication industry as the principal earner of FDI for the country, means that the local mobile operators will continue to delay the 3G process as long as possible, especially keeping in mind the cost of the license being propositioned. The idea of inviting an international company to enter the already saturated market may be a little too optimistic. For now, the consumer has to make do with what is available. While the line of high-end smartphones continues to roll out, it will some time before equivalent level and variety of services arrive for them. -Agencies
9
Tuesday, August 2, 2011
Brent off 6-wk high on US debt progress North Sea oil and gas pipeline shutdowns support LONDON: Brent crude futures rose on Monday, hitting a six-week high of over $120 a barrel earlier in the day, in a relief rally after Washington reached a last-minute deal to escape a debt default. Gains in oil prices were capped by signs of weak manufacturing activity across the globe. By 1406 GMT, Brent crude was trading up $2.01 at $118.75 a barrel, having risen more than $3 to $120.40 earlier, the highest price since mid-June. US crude was catching up with Brent, jumping by $1.34 to $97.03 in early US trading hours. After a tense weekend in which rival plans to lift the US borrowing limit were shot down in Congress, US President Barack Obama said leaders from both parties reached a deal to cut the budget deficit by $1 trillion over 10 years, with additional savings of $1.4 trillion possible. The deal is expected to be passed through the Senate, but it could face tough opposition in the House of Representatives.
There are also concerns the United States' top-notch credit rating could be cut. "The eleventh-hour agreement on the US debt ceiling has left market players more willing to take risks, giving a fillip to oil at the start of the trading week," Commerzbank said in its research note. Oil rose, alongside most other commodities and equi-
ties, while gold dropped as it lost safe haven appeal. The dollar gave up its earlier gains and slipped to its lowest in more than four months against the yen. Some analysts cautioned the relief could be short-lived. "The initial reaction is that it will act as a stimulus because more money will be put into the economy. The flip-side is how long that will last, and concerns about how spending will be cut in the longer term. It's a double-edged sword," said Jonathan Barratt, manag-
ing director at Commodity Broking Services in Sydney. Brent was also supported by oil and gas pipeline shutdowns in the North Sea. British oil major BP said on Monday the Forties Pipeline System is shut this week to remove an unexploded mine from World War II. Forties crude, already hit by underproduction, is one of the four streams used to set a global price benchmark. Total's Elgin platform in the North Sea stopped production on Sunday for maintenance, the operator said on Monday. Speculators raised their net long positions on the two main oil contracts traded on the IntercontinentalExchange (ICE) in the week to July 26, data published by the exchange showed on Monday. A similar picture emerged on Friday from the Commodity Futures Trading Commission (CFTC), which published figures showing money managers raised their net long US crude futures and options positions in the same week -Reuters
Copper hits one week low on US manufacturing data LONDON: Copper hit a oneweek low on Monday asdisappointing manufacturing data from the United States reinforced fears of weakdemand growth from the world's largest economy and as the dollar strengthened. Earlier, the metal used in power and construction rose to afour-month high of $9,905 a tonne on expectations that US lawmakers werelikely to pass a deal to raise the country's debt ceiling, avoiding a default,and cut about $2.4 trillion from the deficit over the next decade. Benchmark copper on the London Metal Exchange ended at $9,650 a tonne from from $9,820 at the close on Friday. Earlier on Monday it touched$9,625 a tonne, its lowest since July 25. The pace of growth in the US manufacturing sector slowed more thanexpected in July, according to the Institute for Supply Management's (ISM)index, which showed it fell to 50.9 from 55.3 in June. The consensus was for afigure of 54.9. "The market did react in a swift knee-jerk reaction to the yet againextremely weak US data," said Eugen Weinberg, commodities analyst atCommerzbank, adding that the
stronger dollar was also behind losses inindustrial metals. "However the market seems to be weighing the chances of (further USmonetary easing) and the positive outcome of the expansive monetary policy onthe metals." Much of the money pumped into financial system has found its way into copperand other commodities, pushing up prices. A higher UScurrency makes
Shanghai copper rises The most-active October copper contract on the ShanghaiFutures Exchange closed 1.1 percent higher at 73,440yuan a tonne, after falling 0.1 per cent in the last session. commodities priced in dollars moreexpensive for holders of other currencies. Also helping to boost copper market sentiment was a strike at the world'sNo.1 copper mine, Chile's Escondida, which pushed into an 11th day, but the riskof it spreading appeared limited after a weekend walkout at the No. 3 mine,Collahuasi, lasted just 24 hours. Escondida and its workers remain deadlocked over a bonus demand, but theminers' union said that was the only remaining
sticking point, raisingexpectations of a possible solution to the strike at a mine that extracts 7per cent of the world's copper. "The tentative deal to raise the debt ceiling in the US, plus noresolution of the Escondida strikes, plus a 24-hour strike at Collahuasi: thereis a lot going on supporting copper and other metals," said Credit Agricoleanalyst Robin Bhar. "Investors are looking to hedge economic uncertainties by betting ontangible assets; they want exposure to emerging economies and they are lookingfor an inflation hedge." In a Reuters poll last month, a consensus of analysts forecast a 343,150tonnes deficit for copper this year but recent strikes at the Chilean mines arelikely to have exacerbated the tightness. Inventories of copper in LMEregistered warehouses at above 466,000 tonnesare more than a third higher than in the middle of December last year. High inventory levels in the last few months raised concerns over demandweakness in China, but some analysts argue that Chinese buyers, who are tappingtheir inventories in the first half of the year, will soon have to come back tothe international copper market. Reuters
Gold slips on US debt deal relief Uncertainty remains over US credit rating LONDON: Gold fell on Monday as investor concern about debt default in the United States, the world's largest economy, receded after President Barack Obama announced a last-minute deal to raise the country's borrowing limit. Spot gold was bid at $1,616.39 a troy ounce, by 1329 GMT, down 0.6 per cent from $1,626.59 an ounce late on Friday. Earlier on Monday the precious metal fell more than 1 per cent to a low of $1,607.69 an ounce, off a record high of $1,632.30 hit on Friday. Republican and Democratic lawmakers were expected to vote later on Monday on the deal to raise the US borrowing limit and cut about $2.4 trillion from the deficit over the next decade. "There is some short-term relief as the risk of an imminent default (for the United States) does seem to have been avoided," said Caroline Bain, senior commodities economist at the Economist Intelligence Unit.
"But very soon the market will start to factor in that there isn't that much being done with the fiscal deficit and concerns will re-emerge." While the deal comes just in time for the August 2 deadline, analysts said uncertainties remain over whether it will be enough for country to maintain its top-notch credit rating, keeping gold's appeal as a hedge against risk intact. "This (plan to raise the debt
ceiling) is only one step and the US will still have issues to face looking ahead so it's not an end to the gold bull," said Ross Norman of Sharps Pixley. The most-active US gold futures fell 0.7 per cent to $1,619.70 an ounce. Despite Monday's slide, economic and political uncertainty are expected to keep gold attractive to investors.
Ongoing jitters about the euro-zone's debt crisis will also boost gold market sentiment. "The prospect of a powerful rally in gold reflects ongoing stress in the financial system and the maintenance of super low interest rates," Deutsche Bank analyst said in a note. Gold has in recent years gained from historically low interest rates, which means there is little or no opportunity cost to holding the precious metal, which pays no dividends or interest. S o m e 100,000 gold m i n e r s downed tools on Thursday, halting operations at AngloGold Ashanti, Gold Fields and Harmony Gold. "The readiness of unions to go on strike for extended periods and persistent large gaps between pay offers and demands suggest that settlements in affected sectors may be significantly above (inflation)," Citi analysts wrote in a note. -Reuters
Sugar, coffee firm after US debt deal LONDON: ICE sugar and coffee futures firmed on Monday as commodities were buoyed by a US debt deal to help avoid default, while cocoa eased as ample supplies weighed. President Barack Obama announced on Sunday that Democrat and Republican leaders had reached an agreement to reduce the US deficit and avoid default, which boosted investor interest in riskier assets. "In the softs complex, the US debt deal will keep the downside limited for the moment. We will focus again on fundamental issues as macro concerns recede," said Andrey Kryuchenkov of fund VTB Capital. October raw sugar on ICE was up 0.06 cent or 0.2 per cent at 29.87 cents a lb at 1424 GMT, which compared with a five-month peak of 31.68 cents a lb touched on July 25. Downward revisions in expectations for sugar output in top producer Brazil have driven the latest sugar futures rally. October white sugar on Liffe rose $9.10 or 1.2 per cent to $786.50 per tonne after touching a contract high of $821.00 on July 25. Arabica coffee futures on ICE were Slightly higher, in line with the firm commodities complex, as investor sentiment improved. September arabica coffee on ICE rose 1.45 cent or 0.6 per cent to $2.4100 per lb, having fallen on Thursday to a sixmonth low at $2.3720. September robusta coffee on Liffe traded up $11 or 0.5 per cent to $2,103 per tonne. Cocoa futures on ICE were slightly lower, under pressure from a bumper 2010/11 West African crop. September cocoa on ICE fell $11 or 0.4 per cent to $2,963 a tonne. London September cocoa was up 9 pounds at 1,861 pounds per tonne. -Reuters
Tokyo rubber inch higher TOKYO: Key Tokyo rubber futures settled slightly higher in thin trade on Monday as lingering worries about the health of the US economy kept investors on the sidelines despite a fall in the yen and higher oil prices after Washington reached a lastminute deal to escape default. The key Tokyo Commodity Exchange rubber contract for January delivery settled up 3.2 yen, or 0.8 per cent, at 389.7 yen per kg. The most active Shanghai rubber contract for January delivery rose 2.1 per cent to close at 36,190 yuan per tonne. Volume stood at 452,436 lots. Trading remained in a 380-400 yen range seen in the past week although US policymakers reached a deal to cut the budget deficit by $1 trillion over 10 years after a tense weekend in which rival plans to lift the US borrowing limit were shot down in Congress. "Investors seemed to stay on the sidelines due to lingering concerns about US and European sovereign debt problems, while prospects of steady supply from producing countries weighed on the market," said a trader. -Reuters
LONDON: A mosaic Faberge egg is displayed at Buckingham Palace in London. The egg, acquired by Queen Mary in 1933, was originally a gift from Tsar Nicholas II to Tsarina Alexandra Feodorovna in 1914. -Reuters
Palm oil gains after US debt deal finalised JAKARTA: Malaysian palm oil futures extended gains on Monday, boosted by export data and as risk aversion eased after Washington reached a last-minute deal to raise the US debt limit and escape default. The benchmark October contract on the Bursa Malaysia Derivatives Exchange closed 0.8 per cent higher at 3,121 Malaysian ringgit ($1,051.550) per tonne after going as high as 3,136. Traded volumes for the contract were 11,313 lots of 25 tonnes each, compared to 11,125 lots on Friday. "Support is coming from equity markets as the US resolves its (debt) issues," said a Kuala Lumpur-based analyst. "It's more of a financial fund-flow thing, rather than fundamental to palm oil ... and less risk aversion." On Friday, benchmark prices hit 3,080 ringgit -- a level unseen since July 19. Favourable crop weather in US grain-growing areas, as well as high palm oil stocks in Malaysia and Indonesia combined to weigh on the market. "I'm expecting flat to firmer prices for the second half of the year," the Kuala Lumpur analyst added. "As we move towards the year end, next year's edible oils supply and demand will play a role, with
the balance becoming tighter." Reuters analyst Wang Tao said Malaysian palm oil was temporarily neutral in a range of 3,083 to 3,138 ringgit per tonne. "External factors are quite good -- crude oil and Dalian trading higher," a dealer in Kuala Lumpur said. Brent crude futures hit a 6week high, topping $120 a barrel, due to a relief rally after Washington reached a last-minute deal to escape default. US soyoil for August delivery eased on Friday, while the most active May 2012 soyoil on China's Dalian Commodity Exchange gained. Also supporting prices late on Monday, exports of Malaysian palm oil products for July jumped 13.5 per cent to 1,628,688 tonnes, cargo surveyor Societe Generale de Surveillance said. "The market is up on good and strong export numbers," said a Kuala Lumpur-based dealer. "Market players expected only 1.59 million." In related news, Malaysia, the word's No.2 palm oil producer, will come up with a certification scheme to ensure the tropical oil is grown without clearing forests and destroying wildlife, a newspaper reported on Monday. Reuters
Indian sugar eases on higher supply MUMBAI: India's sugar futures eased on Monday after the government released higher non-levy sugar quota for August, dealers and analysts said. An improvement in demand due to the upcoming festivals and monthly household demand limited the downside. India has made available 1.703 million tonnes of nonlevy sugar quota for August, higher than 1.56 million tonnes it had released for the previous month, the consumer affairs ministry said in a statement on Monday. 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. At 3:14 pm, the most active August sugar on the National Commodity and Derivatives Exchange was down 0.89 per cent at 2,685 rupees per 100 kg. In Kolhapur, a key market in top producer Maharashtra, the most traded S-variety eased 0.9 per cent to 2,648 rupees ($60.05) per 100 kg. "Higher quota hurt sentiment. But downside is limited. Prices may bounce back due to festival demand," said Nalini Rao, an analyst at Angel Commodities. India should churn out 24.2 million tonnes in the current 2010/11 season and output may jump to 26.5 million tonnes in 2011/12, higher than the country's estimated consumption of around 22 million tonnes, estimates the industry. -Reuters
National Commodity Exchange Ltd Trading Summary Date
1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011 1-Aug-2011
Commodity
Crude10 Crude10 Crude10 Crude100 Crude100 Crude100 SL100OZ SL100OZ SL100OZ SL100OZ SL500OZ SL500OZ SL500OZ SL500OZ GO1OZ GO1OZ GO1OZ GO100OZ GO100OZ GO100OZ GO100OZ GOLD GOLD GOLD GOLDKILO GOLDKILO TGOLD50 TGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD
Contract Date
Price Quotation
Open
High
Low
Close
SE11 OC11 NO11 SE11 OC11 NO11 SE11 OC11 NO11 DE11 SE11 OC11 NO11 DE11 SE11 OC11 NO11 SE11 OC11 NO11 DE11 AU11 SE11 OC11 AU11 SE11 AU11 AU11 MON TUE WED THU FRI MON TUE WED
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce US$ Per Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola
96.82 97.62 97.62 96.79 97.06 97.62 39.80 39.72 39.73 39.82 39.68 39.72 39.73 39.52 1616.50 1616.90 1616.10 1616.40 1621.50 1617.70 1633.60 44980.00 45250.00 44876.00 44825.00 44835.00 52283.00 52283.00 45966.00 46018.00 46036.00 46053.00 46,070 52,899 53,099 53,300
97.51 97.94 97.68 97.50 97.90 97.68 40.39 39.72 39.73 40.35 40.39 39.72 39.73 39.74 1633.00 1633.60 1634.20 1619.60 1630.60 1620.40 44876.00 45200.00 45300.00 44917.00 44866.00 44876.00 52331.00 52331.00 46075.00 46018.00 46036.00 46053.00 46,070 53,072 53,406 53,367
95.00 95.40 97.62 94.98 95.50 97.62 39.29 39.45 39.46 39.32 39.38 39.45 39.46 39.38 1608.40 1610.40 1610.40 1616.40 1611.00 1617.70 1618.40 44727.00 44786.00 44876.00 44825.00 44835.00 52283.00 52283.00 45966.00 46007.00 46024.00 46041.00 46,058 52,899 52,753 53,013
96.82 97.24 97.68 96.82 97.24 97.68 39.44 39.45 39.46 39.46 39.44 39.45 39.46 39.46 1619.60 1620.40 1621.00 1619.60 1620.40 1620.40 44876.00 44894.00 44904.00 44917.00 44866.00 44876.00 52331.00 52331.00 46075.00 46007.00 46024.00 46041.00 46,058 53,072 52,994 53,013
Traded Volume in lots 1,341 518 351 64 350 57 89 30 3,517 5,115 1,040 22 14 13 7 6 156 2
Previous Settlement Price 96.70 97.14 97.62 96.70 97.14 97.62 39.72 39.72 39.73 39.74 39.72 39.72 39.73 39.74 1616.40 1617.00 1617.70 1616.40 1617.00 1617.70 1618.40 44853.00 44863.00 44876.00 44825.00 44835.00 52283.00 52283.00 45966.00 46018.00 46036.00 46053.00 46,070 52,945 53,005 53,025
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 96.82 545 97.24 171 97.68 96.82 97 97.24 13 97.68 39.44 104 39.45 1 39.46 39.46 9 39.44 39.45 38 39.46 1 39.46 5 1619.60 2,942 1620.40 3,836 1621.00 138 1619.60 1620.40 1621.00 1621.70 2 44894.00 3 44904.00 3 44917.00 44866.00 44876.00 52331.00 52331.00 46075.00 46007.00 46024.00 46041.00 46,058 53,072 6 52,994 151 53,013 3
10
Tuesday, August 2, 2011
England thrash India by 319 runs to lead series 2-0 LONDON: Tim Bresnan scored 90 runs and took five wickets as England tore India apart to surge to one of their most impressive Test victories in recent times. After racking up 544 in a blistering batting display, England's seamers skittled the tourists for 158 to complete an 319-run victory on the fourth day at Trent Bridge. Only Sachin Tendulkar (56) and Harbhajan Singh (46) offered any resistance as England made a mockery of India's status as the world number one Test side to snatch a 20 lead in the four-match series. If England win by two clear Tests, they will officially assume top spot in the rankings, but after a second straight mauling of India most will believe Andrew Strauss's men are already there. England should have taken a wicket from the first ball of the India innings as Abhinav Mukund - on a king pair - was dropped by Bresnan jumping across Andrew Strauss from second slip. Rahul Dravid, England's nemesis with two centuries so far in the series, fell in Stuart Broad's second over, nibbling at a ball outside off stump and nicking one through to Matt Prior to leave India 8-1 at lunch. VVS Laxman fared little better, making four before his off stump was uprooted by James Anderson in the second over after lunch. Mukund was surprised by a brutish lifter from Bresnan and could only fend the ball in the air to Strauss and Suresh Raina was tempted by a bouncer, topedging a hook straight down the throat of substitute fielder Scott Elstone at fine leg. Yuvraj Singh looked totally ill at ease in the face of a bumper barrage from Bresnan and it was little surprise when he gloved one in the air and was caught by Alastair Cook, back-pedalling from silly point. Skipper Dhoni became the fourth Indian to be dismissed for a golden duck in the match as he offered no stroke to Bresnan. With wickets falling around him, Tendulkar went on the offensive, striking eight fours in reaching his 60th Test fifty as he and Harbhajan frustrated England with a partnership of 52. But even the Little Master could not save India, his dismissal an exact replica of his captain's as he shouldered arms to an Anderson in-swinger and was rapped on the front pad. Harbhajan tried one slog too many and was caught in the deep by Elstone, and an Anderson yorker ended a brief spirited 25 from as many balls by Praveen Kumar.-Agencies
Dallar East to face Omer CC in Ramzan Cup opener KARACHI: Led by Test batsman Younis Khan, Dallar East will take on Omer Cricket Club in the opening match of 26th KG Baharia Town Ramzan Cricket Tournament which opens on first Ramzan-ulMubarik at KG Ground. 16 top clubs of the city including holders KESC will be featuring in Rs 825.000 prize money event. The winners of the competition take Rs 400,000 and runners-up grabs Rs 200,000. In the meantime, Dollar East have named their squad for the event which is as under. Younis Khan (Captain), Ejaz Ahmed (Vice Captain), Shahzaib Hasan, Hasan Raza, Naumanullah, Ijaz Ali Shah, Haris Ayaz, Shabbir Ahmed, Azam Hussain, Adnan Baig, M.Aslam, Ahsan Zaheer, Mohsin Zaheer, Majid Khan, Bilal Munir, Zubair Zaheer, Sajid Khursheed and Muhammad Waqas. -APP
QUETTA: Chief of Army Staff General Ashfaq Parvez Kayani, Provincial Minister Mir Shahnawaz Marri and Commander Southern Command Lt General javed Zia stand for a group photo with karate players after inaugurating the Garrison Sports Complex in Quetta. -Online
Mohsin dismisses cabals to oust senior players KARACHI: Pakistan's chief selector Mohsin Khan has dismissed claims by experienced all-rounder Abdul Razzaq that there was a conspiracy to oust senior players from the national cricket team. Mohsin said neither the Pakistan Cricket Board nor the national selection committee have any bias against the senior players and insisted all choices were being made on merit. "There is no conspiracy or bias against senior players. Deserving players are getting their opportunities. Senior players like Razzaq are always in contention and can always win back their places in the team on sheer performance and experience," he said. Razzaq has accused a particular lobby of being active and responsible for the ouster of senior players from the team. Before the World Cup, the selectors sidelined former cap-
tains Muhammad Yousuf and Shoaib Malik and after the tournament they left out Razzaq and wicketkeeper Kamran Akmal. After the World Cup, seniors such as Shoaib Akhtar and former captain Shahid Afridi announced their retirements due to disputes with either the team management or the board itself. "There's a lobby which is misguiding the chairman who is working sincerely for the promotion of the game," Razzaq has claimed. "They just want to secure their position in the board and their agenda is against the interest of Pakistan cricket," added the all-rounder. "It's the job of the selection committee to finalize the team," Mohsin retorted. "I don't know about any lobby and I don't feel there is any agenda against the senior players," he added -Online
Football Fed head vows to promote footie in Pak ISLAMABAD: Former National skippers on Monday hailed Pakistan Football Federation (PFF)'s President, Faisal Saleh Hayat for taking essential steps in promoting football in rural and urban areas of Pakistan. Skippers comprising Sharafat Ali, Haroon Yousuf, Jaffar Khan, Zahid Hameed, Tanveer Ahmed, Zafar Iqbal, Shaukat Mufti, Imtiaz Butt also praised PFF chief's dedication and commitment with football in the country. "This will help in encouraging Pakistan's soft image to the international community and foreign nations would get moti-
vated to send their teams to Pakistan in near future," Sharafat Ali told APP on Monday, who slammed two goals in 2-0 win over Algeria in KL's Merdeka Cup 1984. "Despite all the obstacles and lack of funds, PFF chief is promoting the game in the country and is keeping the national and age-limit teams' active by engaging them in healthy soccer series," said Zahid Hameed who led Pakistan in SAFF Championship 2008. "PFF has bought international players and teams to the country which is good for the game," said Imtiaz Butt, skipper of Pakistan in 28th AFC
U19 Championship 1992 in Kannur, India. Pakistani captain in Islamic Games 2005, Tanveer Ahmed told APP that it is fantastic the PFF is going all out for the promotion of football in Pakistan. Millions of football enthusiasts of Pakistan are grateful to PFF which is on the way to PFF Vision Plan 2020 as they are concentrating hard on international exposure, club and grass root football." SA Games gold medalist, Jaffar Khan, who led Pakistan in Asian Games 2010, said, "The game of football has developed with leaps and bounds over the last seven years in the country." -APP
Ruhuna take title after eliminator COLOMBO: The final of the Inter-Provincial Twenty20 tournament at the Premadasa Stadium turned out to be a thriller that was decided by the one-over eliminator. Ruhuna trumped Wayamba in the eliminator after a tie, and booked their place in the qualifier stage of the Champions League to be held in India later in the year. Opting to bat, Ruhuna lost some early wickets but opener Mahela Udawatte held firm, making 65 off 47 and controlling the innings from one end. He ceded the floor to Janaka Gunaratne when the pair got together at 51 for 3. Gunaratne was unstoppable, launching six sixes in his 83 that came off just 42 balls. He added 93 with Udawatte and 36 with Shaluka Karunanayake to propell his team to 198. There are several Sri Lankan internationals in the Wayamba line-up, the most experienced of them all, Mahela Jayawardene, fell cheaply in the chase. But Thilan Samaraweera and Thilina Kandamby, who was left out of the home series against Australia, struck halfcenturies to lead a strong reply. Samaraweera opened the batting and made 57 in 37 while Kandamby struck four sixes in his 60. A crucial contribution came from Indika de Saram, who blitzed his way to an unbeaten 46 and levelled the scores even as offspinner Suraj Randiv grabbed three wickets in the final over. Randiv bagged a wicket off the penultimate ball but wicketkeeper de Saram smashed a boundary off the final ball to make it 198. His effort, however, went in vain, as Wayamba managed just six in their one over. Ruhuna chased it down off the penultimate ball to seal victory. -Online
Italy's aim is to win the group, says Prandelli ROME: Italy coach Ceasre Prandelli said the 2006 World Cup winners will be aiming to win their qualifying group for the 2014 tournament. Only the nine group winners are guaranteed a place at the finals in Brazil while the runners-up are not even guaranteed a play-off spot. As one of the top seeds, Italy drew Denmark, Czech Republic, Bulgaria, Armenia and Malta. "Our main aim is to grow as a team so that we will be prepared when we face our able opponents," said Prandelli. "But we are Italy and while being cautious and showing respect for everyone, our aim is to win the group." But with the likes of Denmark, Czech and Bulgaria in the group, Prandelli refused to be drawn on who would be their toughest challengers. "As usual if you point out one
then there are always surprises," he said. "There's still a long way to go before the World Cup qualification and so as far as I'm concerned, for now our aim is to concentrate on the qualification for the European Championships." Italy are well placed in that competition as they lead Group C by five points from Slovenia, needing two wins from their final four matches to ensure top spot. Italian Football Federation (Figc) president Giancarlo Dondi said the main thing was to avoid the two big-guns in the second pot. "The outcome (of the draw) seems in line with our expectations," he said. "I think it's a good draw, although we must be prudent, given that we didn't draw either of the two most dangerous teams in the second pot, Russia and France." -APP
Farhan to compete in IAAF World Athletics C'ship ISLAMABAD: National Athlete Farhan Ahmad will represent the country in two different events of the 13th IAAF World Athletics championships, slated from Aug 27 to September 4 at Daegu, South Korea. Farhan will compete in 800metre and 1500-metre races, General Secretary Athletic Federation of Pakistan (AFP) Muhammad Khalid Mahmood told APP on Monday. He informed that Salman Iqbal, a former international athlete, would accompany Farhan as manager-cumcoach. President AFP Maj. Gen (R) M. Akram Sahi, has selected the athlete and official for participation in the event. The IAAF World Championships, the top competition of World Athletics Series, is a precious jewel, not only of Athletics, but of the whole international sporting calendar. During nine days, the greatest athletes in the world, from more than 200 teams will be in action. -APP
I wouldn’t have saved Bell: Hussain NOTTINGHAM: Former England captain Nasser Hussain said Ian Bell was fortunate to have been reprieved by India skipper Mahendra Singh Dhoni after a bizarre run out in the ongoing second Test. Bell, who's batted superbly, then was run out on 137 off the last ball before tea on Sunday's third day here at Trent Bridge. Having completed three runs with Eoin Morgan after Praveen Kumar's misfield, he sprinted off the field believing the ball had gone for four and was consequently 'dead'. In fact it was still 'live' and a stunned Bell was eventually given out. England coach Andy Flower and captain Andrew Strauss went to the visitors' dressing room at tea to ask India, whose coach is ex-England supremo Duncan Fletcher, if they wanted the appeal to stand.
And towards the end of the interval, India reinstated Bell, who later admitted he was "naive and a bit stupid". He went on to make 159 as England ended the day on 441 for six in their second innings - already a lead of 374 runs - as they looked to go 2-0 up in this four-match series. Hussain, writing in Monday's Daily Mail, said: "I must say when I was England captain, in the heat of the battle, I would have appealed, definitely. "I am not sure I would have done what (India captain) Mahendra Singh Dhoni did and withdrawn the appeal." However, India-born Hussain, Fletcher's first captain when the Zimbabwean was England coach, added: "But if someone like Duncan Fletcher, who was involved in India's decision yesterday (Sunday), had then sat me
down and said: 'Nass, this doesn't look good, I think we should call the batsman back here' then there is every chance I would have listened and changed my mind. "His (Dhoni's) gesture in the best interests of the game will be remembered for a long time," added Hussain, one of several former Test players working as broadcasters at Trent Bridge. But former West Indies fast bowler Michael Holding said the original run out decision ought to have stood. "Ian Bell should have been watching the final session of the day from the England dressing room," Holding, a Sky TV colleague of Hussain, said. "He decided he was the umpire. He decided that it was four runs and he was off for a cup of tea. "He has no right to do that. The umpires decide what is four runs and when it is tea time." -APP
Debt, spending deal picks up momentum in US Senate WASHINGTON: The White House and congressional leaders worked Monday to align lawmakers from both parties behind their formula for averting a financial meltdown and halting the government's prolific spending habits. Despite resistance from both liberals and conservatives, momentum appeared to be building in support of the compromise deficit-reduction plan. A member of the Republican leadership in the Senate predicted at least 30 GOP votes. "Maybe 35 will support it in the end. There will be some who will pull back," Sen. Mike Crapo, the deputy Republican whip, told reporters, as climactic votes approached in both the House and Senate on the long-sought spending plan. Leaders in both chambers were meeting with their rankand-file during the day to promote the package, and President Barack Obama sent out a video message to sell Democrats on the plan. "This has been a long and messy process," he said. "As with any compromise, the outcome is far from satisfying." Both Senate Majority Leader Harry Reid, D-Nev., and the office of House Majority Leader Eric Cantor, R-Va., said the votes could come as early as Monday evening, depending on the outcome of meetings with members. Cantor's office said the House would go first. "We'll know over the next two to three hours," said House freshman Rep. Tom Reed, RN.Y., when asked if House Speaker John Boehner had the votes in the House, where conservatives have been more resistant to the compromise. Reid opened the day's ses-
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sion in the Senate by declaring the deal shows that the oftendysfunctional Senate can come together when it counts. "People on the right are upset, people on the left are upset, people in the middle are upset," he said. "It was a compromise." Crapo's assessment came as Vice President Joe Biden, who played an instrumental role in successful weekend efforts to hammer out an accord, went to Capitol Hill to sell the plan in separate meetings with House and Senate Democrats. Relief around the world was indisputable, with Asian shares on Monday enjoying one of the best sessions in weeks. The advance continued in Europe. Wall Street opened higher, but faltered on a report that a key manufacturing index had dropped sharply in July. Whatever momentum could be claimed for the deficitreduction plan, Congress still has precious little time to avert a potentially devastating default on U.S. obligations. And there was little dispute that the endgame product contained plenty to offend lawmakers of both parties, and tea party sympathizers as well. Sen. John McCain conceded as much, saying he'd have to "swallow hard" to vote for it because of cuts in defense spending. But the Arizona Republican said lawmakers had little choice in the face of the specter of default. Fellow Republican Lindsey Graham of South Carolina said he was a no vote. "Simply stated, it locks us into more debt, bigger government and most devastating of all, a weakened defense infrastructure at a time when we face growing threats."
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On the issue of Sohail Ahmad, bureaucracy had demonstrated protest by wearing black strips. How this situation has been created and who is responsible for it, he questioned. Had charter of democracy been enforced, its benefit would have gone to PPP, he concluded. - Online
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Discussing the war against terror, the President also underlined Pakistan's resolve to continue its struggle till its logical end saying that it was in our own interest to fight militancy and to get rid our land of the extremists and militants. He said that Pakistan has rendered unparalleled sacrifices in this struggle and was determined to continue this fight till its logical conclusion. The President said that a peaceful and stable Afghanistan was in the interest of peace and stability in Pakistan. Therefore, he said, Pakistan would assist in all efforts intended to bring peace, stability and development of Afghanistan. Socio-economic development along with due emphasis on capacity building of Afghan institution would help bring durable peace and stability in Afghanistan, he added. The President also reiterated his call to the international community to take effective steps to end all avenues of funding for the militants and their activities. Discussing mutual relationships and the current regional developments, the President underlined the need for mutual trust and to work more closely in finding solutions to the prevailing challenges. Ambassador Grossman thanked the President for the meeting and said that US was open to the suggestion put forth by the President. - APP
"I am probably a no," freshman Rep. Joe Walsh, R-Ill., a tea party favorite, told Fox News. " ... We need a bold solution and this isn't it." Another House Republican, Michael Turner of Ohio said he was not ready to endorse the package as he left a closeddoor meeting of House GOP lawmakers. Turner is a member of the House Armed Services Committee, and potential cuts to defense spending could be an issue among some Republicans. The compromise plan agreed to late Sunday would mix a record increase in the government's borrowing cap with the promise of more than $2 trillion in spending cuts. Democratic votes are certain to be needed to pass the measure in the Republican-dominated House, just as Republicans will be needed to clear the measure through the Democratic Senate. Liberal Democrats were already complaining that Obama had given away too much to GOP leaders. "Now, is this the deal I would have preferred? No," Obama said. "But this compromise does make a serious down payment on the deficit reduction we need, and gives each party a strong incentive to get a balanced plan done before the end of the year." The legislation would slice more than $2 trillion from federal spending over a decade and permit the nation's $14.3 trillion borrowing cap to rise by up to $2.4 trillion, enough to keep the government afloat through the 2012 elections - a key objective for Obama, whose poll numbers have sagged as the summertime crisis dragged on.-Agencies
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Factory growth slows, casts shadow on economy W A S H I N G T O N : Manufacturing grew at its slowest pace in two years in July as new orders contracted, a troubling development for the faltering economy. The Institute for Supply Management said on Monday its index of national factory activity fell to 50.9, the lowest level since July 2009, from 55.3 in June. Economists had expected a reading of 54.9. A reading below 50 indicates contraction in manufacturing. The economy almost ground to a halt in the first half of the year, government data showed on Friday, with output rising at a tepid a 1.3 percent annual pace in the second quarter after advancing just 0.4 percent in the prior period. The ISM report suggested the much-anticipated bounce back in growth in the second half would probably be feeble. "These are the types of numbers that are consistent with what we saw with the GDP numbers," said Keith Hembre, chief economist at Nuveen Asset Management in Minneapolis. "Absent a governmental shock, we would dredge forward with this stagnant economic performance. We'll be mired in this 1 to 2 percent (growth) environment we have been in." Congressional leaders were scrambling to line up Republican and Democratic votes for a White House House-backed deal to raise the U.S. borrowing limit and avert a debt default. The deal, which raises the $14.3 trillion debt ceiling and cuts about $2.4 trillion from the deficit over the next decade, was hammered out on Sunday. Stock indexes turned negative after the factory data while bond prices rose.-Reuters
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However, all officers/staff of SBP, SBP BSC, banks/ DFIs/MFBs will attend their office on bank holiday treating it as a normal working day (except for public dealing), says a statement issued by the State Bank here on Monday. Agencies
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endorsed our stance that the government has implemented all the decisions of the apex court. He said all the accused of ARY gold case including Mohtarma Benazir Bhutto were acquitted by the Accountability Court and asked the MPs who registered the case and how much state amount was spent on it. He said now the people also asked why Mohtarma Benazir Bhutto was implicated in such a false case. The Prime Minister expressed dismay over the statement of Opposition provoking the bureaucracy to rise against the government, adding, when the issue of the federal secretary was resolved such kind of statement has no justification. He said that the government was ready to jointly struggle for protection and strengthening of all the state institutions. He said that all the major issues of 18th and 19th Amendments, 7th NFC award and the related issues of Constitution were collectively resolved by the government and opposition. The Prime Minister said that non-issues should not be projected. "I have great regard for bureaucracy and all those officers who are sent to the centre from the provinces are accommodated," he said. He said he has nothing to do with the promotion of senior bureaucrats rather it is the Central Selection Board that decides about their promotions. Contrary to it, the Prime Minister reminded members of the Continued from page 1 No #3 GSP plus criterion, the President hoped that Pakistan would PML-N that it was during the tenure of their governments when the Superintendent of Police was handcuffed in Faisalabad. - APP qualify for GSP plus status.
The President also emphasised upon early commencement of negotiations for EU-Pakistan Free Trade Agreement. Discussing fight against terrorism, the President underscored sacrifices made by Pakistan and the huge losses that Pakistan had to face in terms of human and material losses. He said that the menace of terrorism was multi-dimensional and that Pakistan believed that political dialogue and socio-economic development were no less important for fighting it. The President said that Pakistan's response to this menace in the areas that have been worst hit by militancy and extremism was to undertake development projects with special focus on education and development to marginalise the extremists in the area. He said that a long term sustainable development plan for tribal areas has also been prepared to bring in socio-economic development of the region and to create opportunities for the local community. Discussing regional situation, the President reiterated Pakistan's desire for a peaceful and stable Afghanistan and its abiding interest in promoting long-term stability, security, good governance and economic development of Afghanistan. The President said that Pakistan desires to have friendly, cooperative and good neighborly relations with all the neighbors and believed that it is time to resolve all outstanding issues peacefully in a just manner. He said " we believe in policy of constructive and result-oriented engagement to resolve all issues with all as the dialogue was the only way forward." The President also reiterated Pakistan's invitation to Polish leadership to visit Pakistan so that the political interactions are promoted and strengthened between the two countries. Rodoslaw Sikorski thanked the President for warm welcome and assured that Polish government continues assistance to Pakistan in pleading its case at EU forum. Rodoslaw Sikorski also acknowledged and appreciated Pakistan's role in the fight against extremism. - NNI
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International & Continuations
Tuesday, August 2, 2011
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rating. The long-term entity rating has been maintained at AA- (Double A Minus) with stable outlook. The rating indicates sound performance indicators of the Bank. Meezan Bank has been consistently recognized as the best Islamic Bank in Pakistan by various local and international institutions over the past several years. The Bank won the award of 'Best Islamic Bank in Pakistan' by Islamic Finance News of RED money Group, Malaysia for five consecutive years from 2005 to 2010; 'Best Islamic Financial Institution in Pakistan' by Global Finance magazine, New York from 2008 to 2011; 'Best Islamic Bank in Pakistan' by Asia Money magazine, Hong Kong for 2009, 'Islamic Bank of the Year' by the CFA Association of Pakistan for 2009 and 2010 and 'Best Islamic Bank in Pakistan' and 'Best Islamic Trade Finance Bank in Pakistan' by Asset Triple A Awards, Hong Kong. Meezan Bank is the first and largest Islamic bank in Pakistan with a network of 230 branches in 63 cities across Pakistan and offers complete range of Islamic banking products and services including free online banking for Rupee account holders. The Bank's retail banking network is supported by 24/7 banking services that include over 180 ATMs, Internet banking and a 24-hour Call Center. The Bank's VISA Debit card allows its customers to shop at more than 30 million merchants worldwide and withdraw funds from their accounts from more than 1.4 million ATM's worldwide.
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worries," said Deven Choksey, managing director and CEO of KR Choksey Shares. The HSBC Market Business Activity Index , based on a survey of around 500 companies, fell to 53.6 in July from 55.3 in June, its third straight decline, although it remained above the 50 mark that separates growth from contraction for the 28th consecutive month. "The growth engine cannot apply brakes every now and then.
NEW DELHI: Veteran Indian social activist Anna Hazare speaks during a news conference. -Reuters
India economy panel cuts outlook to 8.2pc NEW DELHI: A top economic panel Monday scaled down its forecast for India's economic growth to 8.2 percent from 8.5 percent after a series of interest rate hikes by the central bank to tame stubbornly high inflation. The Prime Minister's Economic Advisory Council said that inflation would remain at a high 9 percent until October, when it would begin to ease. The Council projected a bleak outlook for the global economic and financial situation and warned that this could hurt India - Asia's third-biggest economy.
The lower growth forecast for the fiscal year through March 2012 follows a series of interest rate hikes to tame inflation. The Indian economy grew by 8.5 percent in the last fiscal year that ended March 31. "The projected growth rate of 8.2 percent, though lower than the previous year, must be treated as high and respectable, given the current world situation," Council chairman C. Rangarajan told reporters after he presented the report to Prime Minister Manmohan Singh. The slowdown was also blamed on poor industrial per-
formance which the Council said would grow by 7.1 percent this year compared to 7.9 percent the previous fiscal year. However, the services sector was projected to grow at 10 percent, compared to 9.4 percent last year. The services sector accounts for more than 50 percent of India's gross domestic product. Rangarajan said headline inflation rate would remain at 9 percent between July and October, but would decline gradually. "There will be some relief starting from November and (inflation) will decline to 6.5 percent in March 2012," he said.
Something needs to be done on that front," Choksey said. "In an attempt to control inflation, if you halt the growth engine of the economy, in the process you would create a bumpy business environment."-Reuters
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raise the US borrowing limit and avoid a catastrophic default and he urged lawmakers to "do the right thing" and approve the agreement. "Obama's remarks may be enough for the Nikkei to regain the last three days of losses, but today's gains will likely reflect temporary relief, not solid confidence that all the negative elements in the US economy have been priced in," said Tsuyoshi Kawata, a senior strategist at SMBC Nikko Securities. The benchmark Nikkei rose as high as 10,040.13, though later gave up some gains to close up 1.3 per cent at 9,965.01. The broader Topix index gained 1.2 per cent to 851.70. Concerns also remain about whether the US debt deal will be sufficient for the United States to avoid a downgrade in its sovereign credit rating. Standard & Poor's has warned it may cut the United States' top AAA credit rating even if a deal on raising the government's debt ceiling is not accompanied by a credible plan to cut the deficit. "When you look at the US economy in the long-term, the fundamentals for the US stock market seem far from attractive," said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. Although profits at the operating level for Japan's big three banks showed declines, their progress towards their full-year outlooks was faster than expected, analysts said. Goldman Sachs analyst Katsunori Tanaka also said that bank lending at home is expected to rise during the second half due to higher loan demand for reconstruction after the March quake as well as lending demand from power companies. Futures-led buying pushed up industrial robot maker Fanuc, the stock with the biggest weighting in the Nikkei, to a life-time high of 15,420 yen although it later ended up 4.6 per cent at 15,280 yen. Fuji Electric rose 4.4 per cent to 262 yen after the Nikkei business daily said the company had developed a gadget that would enable radiation in fresh food to be measured in seconds, without removing packaging. Volume was moderate, with about 1.9 billion shares changing hands on the Tokyo stock exchange's main board, slightly above last week's daily average of 1.7 billion shares.-Reuters
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He further added that Fertilizer and Oil sectors were remained favorite for investors here on Monday for Intra-day trading. Total shares traded were 48,005, which were up by 16,005 as compared to the previous day. Out of 144 companies, the price of 56 increased while the price of 58 decreased. The price of top gainer Unilever Pakistan increased by Rs131.07, while the price of top loser Millat Tractors decreased by Rs7.15. Bank of Punjab, Fatima Fertilizer and Nishat Mills were remained volume leaders here on Monday with volume of 10,000, 10,000 and 7,200 respectively.-APP
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not only in the United States but UK, Australia and other countries as well through commercial offices of the embassies of the country. The Minister said that preferential trade agreements were also on the table with many countries with the help of the business community to promote exports in the coming years. "It is also our endeavour to get rid of the culture of red-tapism from the Ministry of Commerce to facilitate our exporters," he maintained. He said the target of export was achieved through the guidance of President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani. President FPCCI, Haji Ghulam Ali expressed his optimism to achieve the next year's export target. Federal secretary Commerce Zafar Mehmood and CEO of TDAP Tariq Puri also spoke on the occasion. - APP
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Police said 17 people were killed in the city since Sunday morning in fighting linked to ethnic and religious tension, adding that about 200 people were killed in the city in July alone -- one of the deadliest months in about two decades. Other officials said there was no clear reason for the latest bout of fighting, which erupted from the western Orangi town neighbourhood early in July, when about 100 people were killed in only three days. Violence also flared last week. Paramilitary Rangers took control of the Orangi area, but violence has since spread to other parts of the city, home to more than 18 million people. A recent report from the Human Rights Commission of Pakistan (HRCP) said 1,138 people were killed in Karachi in the first six months of 2011, of whom 490 were victims of political, ethnic and sectarian violence. In another statement issued Monday, the HRCP called for a political solution to the violence in Karachi. "Karachi is in the grip of a multi-sided wave of insecurity-driven political, ethnic and sectarian polarisation that has greatly undermined its tradition of tolerance and good-neighbourliness," it said. - Agencies
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continued buying mainly in some oil, fertilizer and cement stocks. The index within 10 minutes of ringing of opening bells touched an intra-day high of 12,328 points (+ve 138). Though, the index remained in the positive zone throughout the session but some profit taking at higher levels reduced the gains while local investors too stayed cautious as reflected by low volumes on fears of further foreign selling. Foreign investors were mainly on the buying side as according to NCCPL data, offshore investors did a net buying worth $1.07 million on Monday. Investors' participation however remained on the lower side as 38.9 million shares exchanged hands in the overall market which was 7.2 million shares less as compared to a turnover of 46.1 million shares on Friday. WorldCall Telecom was the volume leader with 3.62 million shares followed by NIB Bank (R) with 2.21 million shares and Fauji Fertilizer Company with 2.13 million shares. Out of total 321 active issues; 120 declined and 110 advanced while 91 issues remained unchanged.
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the top two blue chip fallers, down 5.0 per cent and 4.3 per cent respectively, with the duo set to report numbers later this week. Overall, however, the UK banking sector managed modest gains thanks to strength in global heavyweight HSBC, up 2.2 per cent after it posted better-than-expected first-half numbers on Monday. Europe's biggest bank rose 4.8 per cent after unveiling first-half pretax profit of $11.5 billion, and as it announced it will shed 30,000 jobs roughly 10 per cent of its workforce. "These results look better than expected, underlining the attractions of HSBC's conservative balance sheet," said Seymour Pierce analyst Bruce Packard, who reiterated his "buy" rating and 800 pence price target on the stock.-Reuters
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Qamar for more FDI in energy sector BEIJING: Federal Minister for Water and Power, Syed Naveed Qamar has said that Pakistan is extending maximum facilitation to the Chinese entrepreneurs working in Pakistan and is encouraging them to invest in the energy sector. The Minister was talking to the
Administrator of National Energy Administration (NEA) of China's National Development Reform Commission, Liu Tienan who received him at the Diaiotai State Guest House here on Monday. Syed Naveed Qamar said the issue of energy shortage is of
topmost importance for the Pakistani people. He hailed the idea of forming the PakistanChina Joint Economic Working Group (JEWG), which, he said, can be an ideal platform where all energy related issues can be brought for discussion and speedy implementation.
Tienan informed the Minister about the working of NEA and expressed the confidence that the JEWG would provide a good opportunity to search for solutions to meet energy shortage in Pakistan. The two ministers decided that Pak-China JEWG would
act as a platform to create a mechanism for the early implementation of Pakistan-China energy projects. The meeting agreed that the existing energy projects would be consolidated; efforts would be made to expedite their completion and to arrange their
financing. The energy working group would also study the future energy requirements of Pakistan and submit proposals for their implementation. The Pakistani delegation included Pakistan's Ambassador to China Masood Khan, Chairman Wapda, MD Pepco,
Chairman AEDB and MD PPIB. Earlier, in a separate meeting with the Board Chairman of Sino Hydro, Corporation, Huang Bao Dong, the Minister discussed matters related to the construction of Gomal Zam, Darawat and Diamer-Bhasha Dams. - NNI
Sohail made secretary narcotics control
Govt obeys SC orders, but partially ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has appointed Sohail Ahmad as secretary narcotics control division. According to the details, Sohail Ahmad's appointment was made in the wake of Supreme Court ruling. Prior to
BEIJING: Federal Minister for Water and Power, Syed Naveed Qamar in a meeting with Administrator Liu Tienan at the State Guest House. Pakistan's Ambassador to China, Masood Khan is also present.-APP
2 kids dead in Quetta blast QUETTA: Two children lost their lives in a bomb blast in the suburb area of Quetta here on Monday. According to details, this blast occurred in the Hazar Kunji fruit market area of Quetta in which Raza Ali and Hameed Khan died on the spot. Police sources are suspicious that this bomb was present in the bag of one child and it exploded when they were going somewhere to place it. Police took the dead bodies into custody and shifted them to the hospital. Police has also taken six relatives into custody for investigations and has shifted them to an unknown place. - Online
Drone attack kills four PESHAWAR: At least four persons were killed when a US drone attacked a vehicle in Nargasay area of Azam Warsak in South Waziristan Agency on Monday. According to the details, two missiles were fired on vehicle. As a result, four persons were killed while the vehicle was destroyed completely in the incident. The latest US drone attack was the first since July 12. - NNI
HSBC to cut 30,000 jobs by 2013 LONDON: Global banking giant HSBC warned on Monday that it will slash up to 30,000 jobs worldwide as part of its major cost-cutting drive. "There will be further job cuts," bank's official told journalists on a conference call after the group published its interim results. He added: "Another 25,000 roles will be eliminated in addition to the 5,000 already announced." Earlier this morning, HSBC had said it would axe 5,000 jobs as a result of operational restructurings in Latin America, the US, the UK, France and the Middle East. It also unveiled a 35-per cent jump in first-half net profits. Earnings after taxation soared to $8.9 billion (6.2 billion euros) in the six months to June, compared with $6.6 billion last year, HSBC said in a results statement which cited lower tax charges. Revenues edged ahead to $35.7 billion. - Agencies
Pak offers help to China against turmoil
China blames Muslim extremists for attack BEIJING/ISLAMABAD: China said on Monday that Islamic militants mounted an attack in the restive western region of Xinjiang that left 11 people dead and where the government announced a crackdown on "illegal religious" activities at the start of the Muslim fasting month. The attack in Kashgar city on Sunday afternoon was the latest violence to shake the region where Muslim Uighurs have long resented the presence of Han Chinese and religious and political controls imposed by Beijing. It came less than 24 hours after two small blasts hit the city, which is dominated by Uighurs. "The malign intention behind this violent terror was to sabotage inter-ethnic unity and harm social stability, provoking ethnic hatred and creat-
ing ethnic conflict," the Kashgar government said on its website. Captured suspects confessed that ringleaders had earlier fled to Pakistan and joined the separatist "East Turkestan Islamic Movement", and received training in making firearms and explosives before infiltrating back into China, the Kashgar government said. "The members of this group all adhere to extremist religious ideas and adamantly support Jihad," said the statement, referring to the Arabic term. Police shot dead five people and arrested four others after they stormed a restaurant, set in on fire after killing the owner and a waiter, and then ran onto the street and hacked to death four people, Xinhua news agency reported. Meanwhile, Pakistan dubbing all incidents of terrorism as
deplorable has extended its full support to China against the East Turkestan Islamic Movement (ETIM). In response to a question concerning the incidents of violence in Kashgar, Foreign Office spokesperson said that all incidents of terrorism are deplorable. Pakistan is fully confident that the patriotic people of Xinjiang autonomous region of the People's Republic of China and, in particular, Kashgar as well as the Chinese government, will succeed in frustrating evil designs of the terrorists, extremists and separatists, who constitute an evil force, she maintained Pakistan will continue to extend its full cooperation and support to the government of the People's Republic of China against the ETIM, she added. - Online
Date exports rise to Rs4.1bn in nine months ISLAMABAD: The exports of dates from the country increased by 9.87 per cent to Rs4.098 billion during the first nine months of fiscal year 2010-11 as against the corresponding period of last year. Exports of dates (both fresh and dried) were recorded at Rs4.098 billion during JulyMarch (2010-11) against the exports of Rs3.730 billion during July-March (2009-1), sources in the ministry of finance said. During the period, the exports of dried dates increased by 4.41 per cent, by growing from Rs3.453 billion to Rs3.606 billion, according to data provided by the ministry. Similarly, the exports of fresh dates increased from Rs276.519 million to Rs492.496 million, showing an increase of 78.10 per cent. The overall exports of fresh dates stood at 6,257,961 kilograms in 2010-11 against the exports of 4,853,391 kilograms in 2009-10, showing an increase of 28.93 per cent. However, based on the quantity, exports of dried dates decreased by 10 per cent falling from 105,959,744 kilograms in 2009-10 to 94,927,215 kilograms in
2010-11. The major importer of fresh dates during 2010-11 was United States of America that imported 2,757,199 kilograms of dates, worth Rs237.049 million against the imports of 1,585,415 kilograms worth Rs.113.529 million last year, the data revealed. This was followed by United Kingdom that imported fresh dates of Rs119.077 million during the period under review against the imports of Rs47.587 million last year. The other countries that imported fresh dates from Pakistan included, Bangladesh that imported dates worth Rs12.507 million, Canada (Rs7.795 million), Denmark (Rs19.734 million), Germany (Rs63.987 million) Malaysia (Rs4.851 million), New Zealand (7.366 million). Similarly, Singapore imported dates worth Rs1.767 million, South Africa Rs13.770 million and Sri Lanka Rs1.598 million. On the other hand, India was the major importers of dried dates as it imported 9,147,817 kilograms of dates during July-March (2010-11) against the imports of
10,291,128 last year. In monetary terms, India imported dates of Rs3.423 billion against the imports of Rs3.31 billion last year. It was followed by USA and UK that imported dried dates of Rs51.707 million and Rs51.980 million respectively, according to the data. Other countries that imported dried dates from Pakistan during the period included Australia (Rs11.695 million), Bangladesh (Rs19.885 million), Canada (Rs16.670 million), Japan (Rs9.834 million), Saudi Arabia (Rs2.035 million), South Africa (Rs1.345 million). Turkey also imported dates worth Rs2.647 million whereas UAE imported dates of Rs2.677 million, Qatar Rs0.213 million and Malaysia Rs0.264 million. It is pertinent to mention here that Pakistan is one of the main growers of dates. It is ranked after Egypt, Saudi Arabia, Iran and UAE in the list of top date producing countries with about 10 per cent share of global production. Balochistan is the largest date producing province followed by Sindh, Punjab and Khyber Pukhtunkhwa province. - APP
Sharif vows to support judiciary ISLAMABAD: PML-N president Mian Nawaz Sharif has said judiciary will not be allowed to be knelt down and a resolution is being tabled by his party to express solidarity with the judiciary. "We will not allow the judiciary to be knelt down. Attempts are being made by the rulers to cover up their corruption and cow down the judiciary by the parliament shield. The treasury benches should think not to become tool against the judiciary'', he said. He further said that allied parties also should think whether they are proving helpful in government's bids to cover up its corruption. Parliament should give its decision as per dictates of its conscience and side with judiciary for the cause of its independence. "We are bringing resolution for the independence of judiciary", he said this while addressing parliamentary party meeting here in Parliament House Monday. Rulers had never accepted independent judiciary, he said adding government wanted PCO judiciary so that corruption should remain covered up. Government reinstates every officer who is suspended by the court, he held. Corrupt officers are being inducted on top slots through the method of pick and choose, he alleged. Responding to a question, he said every step taken for destruction of Pakistan would be foiled and we would ensure rule of law. When election time comes political isolation will come to end, Mian Nawaz Sharif maintained. Economy was in shambles and government was obtaining loans from State Bank, he said. Investment opportunities were dwindling; he alleged and added that corruption of billion of rupees was going on unchecked. Inflation is on rise which is escalating price hike, he remarked. See # 1 Page 11
his new appointment as secretary narcotics control division, Sohail was working as 'officer on special duty'. On Friday, the Supreme Court had cancelled the notification of relegation of Sohail Ahmed from the post of establishment secretary to the post of
'officer on special duty'. Besides, the Prime Minister has approved appointment of Anees ul Hassnain Musavi as Secretary, Ministry of National Harmony, and Abdul Ghaffar Soomro as Senior Member, Federal Land Commission. - APP
Tea imports down 23.36pc in last fiscal ISLAMABAD: Tea imports in the country during twelve months of last financial year (2010-11) has registered increase of 23.36 per cent as country consumed about 118,820 metric tonnes of tea costing $33.4 million. According to the data of Federal Bureau of Statistics (FBS), the import of tea was recorded at 94,663 metric tonne during the period from JulyJune (2009-10) costing $27.07 million. However, the data revealed that the import of wheat unmilled decreased by 87.34 per cent during the outgoing financial year as it dropped from 94,058 metric tonne in 2009-10 to only 8,901 metric tonne in
the year 2010-11. Meanwhile, the import of dry fruits and nuts also decreased by 0.16 per cent as it came down from $8.73 million during the year 2009-10 to $8.70 million during financial year 2010-11, it added. Soybean oil imports during the period under review increased by 141.95 per cent as country imported about 66,425 metric tonne costing $6.66 million compared to 2,339 metric tonnes of $2.7 million of last year. The data showed that import all other food items during the year 2010-11 registered an increase of 10.07 per cent as compared to the same period of financial year 2009-10. - APP
Turkey to pick military command ANKARA: Turkey's civilian leaders prepared to use an unprecedented opportunity this week to choose generals they trust after the top commanders of all four military branches resigned in protest over the detention of comrades facing coup conspiracy charges. Prime Minister Tayyap Erdogan convened the Supreme Military Council (YAS) as scheduled Monday despite the presence of only nine of the 14 generals who would normally attend the twice-yearly meeting to decide key promotions in Nato's second largest armed force. The meeting will run four days. Long-running strains between the secularist military and the ruling conservative AK
Party, which has Islamist roots, boiled over Friday when Chief of General Staff Isik Kosaner stepped down, along with the army, navy and air force commanders, to take early retirement. The fifth general missing from Monday's meeting was one of some 250 officers now jailed on charges linked to various alleged anti-government plots dating back to 2003. The resignations will enable Erdogan to consolidate control over a once-omnipotent military that has staged a series of coups since 1960 but whose power has been curbed by European Union-backed reforms since it pushed an Islamist-led government out of power in 1997. - Reuters
Zardari stresses clear terms against terror ISLAMABAD: President Asif Ali Zardari has underlined the need for clear terms of engagement that should be agreed upon beforehand between Pakistan and the United States in the war against militants so that conflicting positions and unilateral actions did not adversely impact on the bilateral ties between the two countries. The President said this during his meeting with US Special Representative for Pakistan and Afghanistan, Ambassador Marc Grossman, who called on him here at the Aiwan-e-Sadr on Monday. Ambassador Grossman was accompanied by Ambassador Cameron Munter, Ambassador Ryan C Crocker, Rear Admiral
Philip Davidson, and other senior officials. Minister for Foreign Affairs Hina Rabbani Khar, Minister for Finance Senator Dr Abdul Hafeez Shaikh, Minister for Interior Senator Rehman Malik, Secretary General to the President M Salman Farooqui, Senator Syeda Sughra Imam, foreign secretary Salman Bashir and spokesperson to the President Farhatullah Babar also attended the meeting. Briefing the media, spokesperson to the President Farhatullah Babar said that Pak-US bilateral relations, war against militants and regional situation with special reference to Afghanistan was discussed during the meeting. Babar said that discussing the
war against militants, President Zardari said that in the absence of well-defined and documented terms of engagements, wrong plugs may be pulled at the wrong times by any side that could undermine the bilateral relations. The President said that terms of engagement should be clearly defined and specified so that any dispute could be settled amicably through the available institutions. Farhatullah Babar said that the President also emphasised that a long-term, sustainable and multi-dimensional relationship with the United States should be based on mutual interest, trust and mutual respect. See # 2 Page 11
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