International Karachi, Saturday, July 23, 2011, Shaban-ul-Muazzam 20, Price Rs12 Pages 8
Haqqani promises to address US concerns See on Page 8 Economic Indicators $18.23bn 13.92% $24.83bn $40.41bn $(15.59)bn $542mn $11.20bn $1.92bn Rs 1598bn $59.54bn Rs 5873bn $725mn -2.28% 4.10% $1,051 176.70mn
Forex Reserves (16-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 (May 11) Repatriated Profit (Jul - May 11) LSM Growth (May 11)
GDP Growth FY10E Per Capita Income FY10 Population
Portfolio Investment SCRA(U.S $ in million)
-7.88 -7.88 0.84 2805
Yearly(Jul, 2011 up to 21-Jul-2011) Monthly(Jun, 2011 up to 21-Jul-2011) Daily (21-Jul-2011) Total Portfolio Invest (9-Jul-2011)
NCCPL (U.S $ in million)
FIPI (22-Jul-2011) Local Companies (22-Jul-2011) Banks / DFI (22-Jul-2011) Mutual Funds (22-Jul-2011) NBFC (22-Jul-2011) Local Investors (22-Jul-2011) Other Organization (22-Jul-2011)
-3.82 0.68 2.81 -0.70 -0.39 1.35 0.07
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,476.77 10,132.11 22,444.80 18,722.30 2,693.27 2,770.79 5,935.02 12,689.10
Change 2.00 121.72 457.51 286.11 4.95 4.90 35.13 35.31
GDR update $.Price PKR/Shares Symbols 111.87 MCB (1 GDR= 2 Shares) 2.60 147.59 OGDC (1 GDR= 10 Shares) 17.15 43.03 UBL (1 GDR= 4 Shares) 2.00 36.57 LUCK (1 GDR= 4 Shares) 1.70 38.93 HUBC (1 GDR= 25 Shares) 11.31
Money Market Update T-Bills (3 Mths) 13-Jul-2011 T-Bills (6 Mths) 13-Jul-2011 T-Bills (12 Mths) 13-Jul-2011 Discount Rate 20-May-2011 Kibor (1 Mth) 22-Jul-2011 Kibor (3 Mths) 22-Jul-2011 Kibor (6 Mths) 22-Jul-2011 Kibor (9 Mths) 22-Jul-2011 22-Jul-2011 Kibor (1 Yr) 22-Jul-2011 P.I.B (3 Yrs) 22-Jul-2011 P.I.B (5 Yrs) 22-Jul-2011 P.I.B (10 Yrs) 22-Jul-2011 P.I.B (15 Yrs) 22-Jul-2011 P.I.B (20 Yrs) 22-Jul-2011 P.I.B (30 Yrs)
13.48% 13.74% 13.90% 14.00% 13.78% 13.59% 13.81% 14.16% 14.25% 13.97% 14.01% 14.03% 14.25% 14.35% 14.46%
Commodities *Crude Oil (brent)$/bbl *Crude Oil (WTI)$/bbl *Cotton $/lb *Gold $/ozs *Silver $/ozs Malaysian Palm $ GOLD (NCEL) PKR KHI Cotton 40Kg PKR
118.46 99.47 98.84 1,602.90 39.87 1,048 44,066 5,894
Open Mkt Currency Rates Symbols
Buy (Rs)
Sell (Rs)
Australian $ 92.70 93.80 Canadian $ 90.50 91.50 Danish Krone 16.00 16.30 Euro 123.00 124.50 Hong Kong $ 10.70 10.95 Japanese Yen 1.090 1.100 Saudi Riyal 22.87 23.05 Singapore $ 70.60 72.00 Swedish Korona 13.10 13.40 Swiss Franc 98.80 99.80 U.A.E Dirham 23.37 23.55 UK Pound 139.30 141.00 US $ 85.90 86.20 Inter-Bank Currency Rates Symbols
Buying
Selling
TT Clean
TT & OD
Australian $ 93.12 93.34 Canadian $ 90.92 91.13 Danish Krone 16.58 16.62 Euro 123.60 123.89 Hong Kong $ 11.02 11.05 Japanese Yen 1.095 1.097 Saudi Riyal 22.91 22.96 Singapore $ 70.97 71.13 Swedish Korona 13.64 13.67 Swiss Franc 105.08 105.33 U.A.E Dirham 23.39 23.44 UK Pound 140.04 140.37 US $ 86.06 86.24 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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Hina pledges to steer Pak-India talks
See on Page 8
US supplies via Pak to Afghanistan down 35pc
See on Page 8
Rs24bn earmarked for flood-affected highways
See on Page 8
Audit Reports of FY10, 11 laid in NA
Rs56bn anomalies found in defence institutions ISLAMABAD: Federal Minister for Textile Industry Makhdoom Shahab-ud-Din laid before the National Assembly reports of the Auditor-General of Pakistan relating to the accounts of the Federation for the financial year 2009-10 and 2010-11. The National Assembly resumed its session on Friday with Deputy Speaker Faisal Karim Kundi in the chair. The Auditor General of Pakistan has disclosed irregularities in the country's defence institutions that have caused losses amounting to Rs56 billion while the audit officials have also complained about what they said the
'excessive consumption of provisions by the jawans of Pakistan Navy', a private news channel reported Friday. According to the report of Auditor General of Pakistan referred by the same private news channel, irregularities causing losses of more than Rs17 billion were committed through violations of rules and regulations. A loss of Rs5.10 billion was caused to the national exchequer through 97 activities of fraud, theft and misuse of resources while Rs20 million were siphoned off through lack of records. Taking part in the debate Zafar Beg Bhittani alleged
Kayani briefs Gilani on efforts against militancy ISLAMABAD: Chief of the Army Staff, General Ashfaq Pervez Kayani called on Prime Minister Syed Yousuf Raza Gilani at PM's House here Friday after noon and discussed the overall security situation of the country particularly about the ongoing operation against militants in the tribal areas. He also briefed the Prime Minister about the professional matters of the Pakistan Army and visit of ISI to Washington and his parleys with CIA acting Chief over sharing of intelligence.
The Prime Minister during the meeting said that Pakistan would fight the militancy in its own interest despite heavy losses in men and and material and to its economy. Sources said the statement by US Secretary of State Hillary Clinton during her visit to India that Washington wanted New Delhi to play a leading role in Asia also came under review. It was the considered view of the politico-military leadership that Pakistan would not accept the hegemony of India or any power in the region. - INP
Govt backs terrorists in metropolis: MQM ISLAMABAD: The Muttahida Qaumi Movement (MQM) Parliamentary leader in the National Assembly Haider Abbas Rizvi has accused the government of backing those carrying terrorist activities in Karachi. Talking to media at the Parliament House here on Friday, Haider Abbas Rizvi demanded that the terrorists arrested in Karachi should be brought before the public. He alleged that the situation in Karachi was being worsened through a pre planned conspiracy. The MQM parliamentary leader warned that the economy of the country would be destroyed if peace was not restored in the mega city. He said the mass killings continued in Karachi for five days but Rangers were not called. He said only in Kati Pahari area 110 people were killed in five
days. Haider Abbas Rizvi said that the MQM supporters were being martyred in Malir and Landhi localities of Karachi. He said the Inspector General Police was repeatedly claiming that the situation would be brought under control but it was deteriorating with the passage of every day. He said in a few hours time eight persons were killed in Malir on Friday. The MQM leader appealed the prime minister to take personal notice of the serious situation in Karachi. He alleged that the federal government indulged in massive rigging in AJK elections and every attempt was made to keep MQM away from them. He said the party has moved to the court against rigging in the elections. He demanded that the AJK election be disbanded and fresh elections held in the Azad territory. - INP
that the government has adopted a policy of confrontation with the judiciary which does not augur well for rule of law. He also lamented that price hike has made life of the people miserable but the government was not taking serious measures to address the problem. MNA Khawaja Sohail Manzoor said the government claims to be champion of the democracy and rights of the people but its conduct in Azad Kashmir elections negated these claims. He said situation in Karachi was impacting the economy of the entire country and steps should be taken to address it. - Agencies
Return of violence kills 12 in city KARACHI: After few days of solace, violence spiraled again in Pakistan's largest commercial city on Friday as firing erupted between rival groups, leading to the death of over twelve innocent people as MQM(H) entered into Landhi, Malir, Khokhara Par, Saudabad, Ghareebabad, KDA Chowk, Landhi 89-More and in several other cities including Saudia Colony. Fierce fighting erupted between two rivals groups in Aleemabad, an area of Khokharapar, when one of the groups' armed people entered into the area and started firing. Armed men made hideouts at tall buildings and open fire off and on at each other. Locals secured themselves in their houses due to sheer firing in the area. No business activities were seen in the area. See # 8 Page 7
Sindh govt failed to restore calm in Khi: Malik ISLAMABAD: Interior minister Senator Rehman Malik has said the coalition government in Sindh has been 'miserably failed' to ensure peace in Karachi. Taking part in debate on Karachi situation in Senate on Friday, Rehman Malik unleashed his fury upon coalition government in Sindh, terming them incapable to maintain peace, law and order in the city. "Even the activists of ruling parties are among arrested 154 target killers in Karachi," he revealed. See # 11 Page 7
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani talking to Chief of the Army Staff, General Ashfaq Parvez Kayani who called on him at PM House.-APP
Inflation up 76pc under present regime TFD Report KARACHI: Prices of essential commodities remained in double digit during the previous three years of present government and from July 2008 to June 2011 inflation soared nearly 76 per cent. Moreover, analysts afraid that rising trend of prices would be continuing in current fiscal and when the present regime would be stepping down after com-
pleting its tenure, at that time, inflation may be touching the rise of total 100 per cent which is termed a preface for hyperinflation. Analysts have observed with inflation forecasted to stay in double digit in FY12 it would be the first time in Pakistan's history that the country would be observing consecutive five years of double-digit inflation. According to researchers, the overall Consumer Price Index
(CPI) in Pakistan witnessed a massive increase of 76 per cent in last four years, thereby eroding the purchasing power of the masses. "In the last four years average yearly inflation stood at 14.6 per cent as against an average GDP growth rate of a mere 2.9 per cent," said an analyst of local brokerage house. The analyst said inflation was one of the key indicators of a See # 7 Page 7
POL products output down 2pc in May ISLAMABAD: The production of petroleum products during May 2011 witnessed negative growth of 2.11 per cent as compared to the same month of the last year. The main petroleum commodities that contributed in negative growth of the petroleum products in May 2011 included jet fuel oil which decreased by 19.51 per cent
during the month under review. The production of motor spirits decreased by 12.31 per cent while the production of diesel oil declined by 50.46 percent and furnace oil by 8.04 per cent, according to provisional figures released by Federal Bureau of Statistics (FBS). The petroleum products that witnessed positive growth in
production included kerosene oil, production of which increased by 89.15 per cent. Similarly, the production of High Speed Diesel increased by 4.85 per cent, lubricating oil by 0.29 per cent, jute batching oil by 7.24 per cent, solvent Naptha by 17.18 per cent and LPG by 23.95 per cent during May 2011. - APP
Abbottabad incident
Not complicity but negligence held responsible WASHINGTON: Former president Pervez Musharraf said that "absolute negligence and not complicity" was behind his country's Osama bin Laden fiasco and Washington and Islamabad must put that episode behind them and rebuild trust. "We must convince the world and the United States that the issue of Osama bin Laden was
not complicity; it was negligence of a very monumental order," he said in a speech in Washington. U.S. Special Forces' killing of the al Qaeda leader in Pakistan on May 2 soured relations between the two countries over U.S. suspicion its ally knew he was living in a town not far from the Pakistani capital for about five years.
"Two years of that five years was during my time. I confidently and surely say that there was not complicity because I am very sure of one thing: that I didn't know, whether one believes it or not," said Musharraf. Dispelling suspicions over Osama would be "the starting point of re-establishing some See # 9 Page 7
PML-N, MQM walk out from NA on Khi mayhem
PM for coaction to bring back peace in Karachi ISLAMABAD: Prime Minister Yousuf Raza Gilani has said that the government will not tolerate lawlessness in Karachi. Speaking at the floor of the National Assembly on Friday, PM Gilani said that the government is working in compliance of laws.
Prime Minister Syed Yousuf Raza Gilani condemning the Malir situation has asked the interior ministry to submit report immediately and asked all the political parties to work together and play their role to end the violence in Karachi. He said that Karachi is the
backbone of country and, he added, no one will be allowed to make the situation worst in the city. "The stability in the city is the stability of the country." He said that all the political parties have to resolve Karachi's law and order situation. See # 10 Page 7
Khi turmoil: MQM stages token walkout from Senate
Senator suggests takeover of KESC ISLAMABAD: Senator Raza Rabbani, while strongly condemning management of Karachi Electric Supply Company (KESC) for its failure to provide smooth supply of electricity to the consumers, on Friday demanded of National Electric Power Regulatory Authority (NEPRA) to immediately take over the company. Speaking on a Point of Order, he
said that KESC had failed to provide services to the consumers and the government has no option but to retake the control of the company. He said PPP strongly opposed the decision of KESC privatisation and informed the then government that handing over an essential utility to foreigner investors would prove a security risk.
"Time has proved that privatization of KESC was a wrong decision and now all the sensitive installations are under threat," he added. Rabbani said that the KESC management has adopted anti-people and anti-worker policy and was following an agenda to close industrial units in Karachi by power crisis and ensure import of third rated goods of foreign
countries to Pakistan. He alleged that the KESC management terminated 4500 lower cadre employees and people were being recruited on contract. "On one side the management is trying to ban trade union and on the other hands the company is promoting contract culture in the country," he said. Rabbani alleged that the company
did nothing to provide smooth electricity to the consumers but was involved in minting money by regularly raising tariff. He said that MD KESC and its management were drawing lucrative salaries and other perks while the company was not ready to pay to lower cadre employees. See # 12 Page 7
2 Food safety awards ceremony today TFD Report KARACHI: Speaker Sindh Assembly Nisar Ahmed Khuhro, Federal Minister for Commerce Makhdoom Amin Fahim & many other prominent personalities will likely to be present awards to over25 companies at the Global Food Safety Awards-2011 (GFSA-2011) ceremony organized by the Global Media Links (GML) and Business Milestones today at a local hotel Karachi. This event is officially endorsed by Pakistan Food Association (PFA), HDC and many other relevant forums. Over 40 organizations have submitted their nominations. few organizations have submitted their nominations in 3 different catagories. The few prominent expected award winners of GFSA-2011 are likely to be Agha Herbal, Shan Foods (Pvt.) Ltd., Qarshi Industries (Pvt) Ltd., Packages Limited, Dilpasand Sweets Bakers & Nimkoz, Shafi Gluco Chem (Pvt) Ltd., Engro Foods Limited, Shangrila (Private) Limited, Imtiaz Enterprises, Merit Packaging Ltd., Anis Associates (Pvt) Ltd., Rafhan Maize products company ltd., Frito Lay Pakistan, Asia Megafoods., PIA, Mitchells Pakistan, Ashrafi Foods, Soya Supreme and many more The Global Food Safety Awards will honor an individual food expert or an organization for preeminence in and outstanding contributions to the field of food safety. These awards will be presented to an individual or organization for a highly significant food safety development or in recognition of a long history of outstanding contributions to food safety. Achieving high standards in food safety will benefit both business and the community. A high profile and interactive conference is also the integrated part of the Global Food Safety Award ceremony.
New office timings for Ramazan announced ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has approved office timings for the forthcoming Holy Month of Ramazan which is likely to set in from 2nd or 3rd August. During the forthcoming Ramazan, government's offices timing will be 08:00 am to 01:00 pm (08001300 hours) from Monday to Saturday except on Friday. On Friday, the offices will close at 12 O'Clock. - NNI
Saturday, July 23, 2011
FPCCI asks traders not to fleece in Ramazan LAHORE: The Federation of Pakistan Chamber of Commerce and Industry, an apex body of chambers and traders in the country, on Friday urged all traders, businessmen and vendors not to overcharge people during the holy month of Ramazan. President FPCCI, Senator Haji Ghulam Ali and Vice President Saarc CCI, Iftikhar Ali Malik in a joint statement said that all chambers and all affiliated trade bodies and organisations must constitute committees to monitor prices in their respective areas and businessmen indulged in overcharging be taken to task without any discrimination.
Ghulam Ali said that the Quran and our law of land prohibit profiteering and hoarding for the purpose of selling at higher prices. He said, "We all are Muslims and the Quran and Sunnah is a complete code of life which must be practised in letter and spirit. We all must seek guidance from the Quran and Sunnah for success in every sphere of life." He asked the business community especially small vendors and shopkeepers to get only marginal profit from people in the holy month of Ramazan-ul-Mubarak and in return Allah will bless their business with bounties which would continue to flourish.
Iftikhar Ali Malik made a passionate appeal to businessmen to sell only best quality products at reasonable prices and offer special discount throughout the holy month. He said that businessmen should sell their products through genuine "grand sale" on the pattern of western countries where all items were sold even upto 80 per cent less than the actual price on the occasions of Christmas and New Year. He said businessmen must provide an opportunity to the poor segment of society to fast comfortably and ensure their full participation in celebrating Eid by selling items on noprofit, no-loss basis. - APP
HRCP to find facts on Khi violence LAHORE: Deeply concerned at the intensity of violence in Karachi in recent weeks that has resulted in the loss of over 200 lives and injuries to many more, apart from displacement of families and total disruption of economic activity, the Human Rights Commission of Pakistan (HRCP) has decided to organise a factfinding team to look into the causes of violence and
to discuss solutions for sustainable peace. The HRCP mission would be in Karachi from July 2931. The team, comprising of HRCP council members from all provinces, would meet representatives of the provincial government and political parties, as well as those from other sections of society - such as business people, transporters, workers of emergency and health services, NGOs, journalists,
etc. On July 31, the HRCP mission would hold a public hearing at the Karachi Press Club at 3:30 pm. The HRCP mission requests citizens of Karachi, particularly those from the severely affected areas, to attend the public hearing and share their experiences. By doing so, they would provide valuable contribution to the mission's report and recommendations. - NNI
KESC workers resume operations KARACHI: After the interference of Governor Sindh Dr Ishratul Ebad on Friday, the Karachi Electricity Supply Company's (KESC) protesting employees ended their strike and also decided to resume field operations. According to KESC administration, after assurances of Governor Sindh Dr
Ishratul Ebad, Chief Secretary, Commissioner Karachi and other high officials regarding security of the KESC employees, the KESC employees announced to resume field operation and also end their strike, which were continuing for the last four days. The KESC administration said that the meeting for solution of employees' prob-
lems and other administrative issues would be held again at the Governor House. Earlier, a delegation of the KESC employees headed by CEO of the KESC Tabash Gohar called on Governor Sindh here at Governor House wherein issues related to the prevailing confrontation between the labour union and the KESC administration were discussed. - INP
ICAP holds seminar on risk management KARACHI: Operational Risk Management was discussed at the seminar organized by the Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) at the ICAP-Moosa D. Desai Auditorium, ICAP House, Clifton, Karachi. Speaker Faisal Umair has an MBA in Finance from UK and member of ClMA (strategic level) with 12 years of investment banking experience has emphasized on the need for Operational risk management issues in the banking and financial industry in the light of BASEL II accord and how financial institutions in Pakistan can improve their global reputation by improving and implementing risk management. Main focus was given to the IT risk faced by financial
institutions locally and internationally due to system change over, data migration and technological updates. Issues like, involvement of key finance staff when making system change, involvement of change control team and methodical approach to change were identified as paramount to successful implementations of system change. Some basic risk mitigation techniques were discussed, like insurance and hedging techniques to mitigate FX and overseas losses. Having reviewed banking standards in Pakistan the speaker highlighted that there is a lot of scope for Organizations in Pakistan to benefit from International Ops Management techniques especially within financial industry. It was suggested by the speaker,
that keeping a risk register will allow financial controller and finance mangers to keep track of all risks and risk mitigation steps taken in a defined period. New techniques like risk matrix and its applications, key steps of BASEL II loss distribution approach were also discussed. During Q&A session the speaker, in response to a question from the floor explained the inter-relationship and crossover between Credit risk and operational risk. In response to another question the speaker explained how political undue influence can increase our risk exposure. He emphasized for the successful future of institutions, key position holders should make decisions objectively without being influenced by such pressure. - NNI
IHC Bar’s team visits ICCI ISLAMABAD: A delegation of Islamabad High Court Bar Association led by its President Chaudary Ashraf Gujar has visited Islamabad Chamber of Commerce & Industry (ICCI). Rana Ghulam Asghar, Rana Sabar Ali, Ch. Zubair Mehmud, Malik Waqar Haider, Rana Ishtiaq, Khuram Mehmud, Munawar Mughal and other senior members of ICCI were also present on the occasion. Speaking on the occasion, Mahfooz Elahi, President ICCI congratulated the newly elected members of Islamabad High Court Bar Association and said that restoration of Islamabad High Court has boosted investment and business activities as promotion of investment and growth of businesses was directly linked with a fair and independent judicial system.- NNI
NBP top Pak bank in 1000 world banks of 2011 Staff Reporter KARACHI: National Bank of Pakistan has outperformed all the banks in Pakistan according to the recently announced "top 1000 world banks 2011" by The Banker magazine of UK. Every year The Banker publishes a list of top 1000 banks based on strength, size, soundness, profit and performance. NBP, based on Tier 1 capital strength, has been awarded as the top bank in Pakistan. Among the global leading banks from Pakistan, NBP is ranked the top bank again in 2011 that has made to the list of top 1000 banks of the world. The Banker since 85 years has been a flagship Global Financial Intelligence magazine of Financial Times Group of UK. Its ratings and lists are referred by professionals and governments worldwide.
KARACHI: Chairman Medicam Khalil Ahmed Nanitalwala presenting souvenir to President KCCI Saeed Shafiq on his visit of Medicam stall during My Karachi Expo. Khuram Nanitallwala and Zubair Motiwala also seen in picture.-Staff Reporter
SKorea envoy calls for more trade with Pak ISLAMABAD: South Korean Ambassador to Pakistan Choi Choong- Jee on Friday said Pakistan's economy is showing clear signs of recovery that calls for enhanced trade between the two countries. He said that Pakistan business community is strong enough to withstand all challenges and has a very favourable view for South Koreans but it is not translating into actual trade potential between the two country Speaking at a reception hosted at his residence in honour on national trade leaders, the Ambassador said "our trade with India stands at $16 billion which will be doubled in few years; it is $ 1billion a day with China while bilateral trade with Pakistan is mere $1.1 billion." "My country wants to enhance cooperation with Pakistan's government and private sector so that economy of this great nation can come out of problems like energy deficiency and it emerges as one of our major trading partner", he added Choi Choong- Jee said that Pakistan has great resources and tremendous potential while Korea relied only on technology. Nothing can stop Pakistan from becoming a developed nation if it adopted few corrective measures, he said.
"I see business community of Pakistan as driving force for economic vitality," said Jee. At the occasion, Tariq Sayeed, Vice President CACCI and former President FPCCI and Saarc CCI said that current volume of bilateral trade did not reflect the cordial relations between the two nations. He said that 23 companies of South Korea were working in Pakistan and Pakistan have $443 million of trade deficit which is not significant. "We need to learn a lot from world's 15 largest economy, to contribute towards the noble cause of national development which will resolve many challenges faced by the country", said Tariq Sayeed. Senator Haji Ghulam Ali, President FPCCI said "we should identify hitches barring trade and expressed resolve to contribute towards enhanced cooperation." He said that the non-availability of proper information was one of the hurdles that need to be addressed urgently. Speaking on the occasion, Iftikhar Ali Malik, VP Saarc CCI said that business community should develop linkages with Koreans and start sharing. He said " we could benefit from promising SME sector of the friendly coun-
try." The veteran trade leader assured support in establishing contacts between business chambers of the two countries and promised to explore Korean automobiles, pharmaceutical, textiles, machinery and other relevant sectors. Iftikhar Ali Malik welcomed the recent investment by South Korean companies in Pakistan saying that sectors like oil and gas, mining, energy, IT, telecom, food, agriculture, beverages, transport and tourism offer great opportunities to foreign investors. Malik Sohail Hussain said that we should boost exchange of delegations and organise trade fairs to promote products and encourage investments.Others present in the reception included VPs FPCCI, Aamir Atta Bajwa, Akbar Khan, Fazl Elahi, Capital Office officials Hameed Akhtar Chadda, Raza Khan, President Women's Chamber Samina Fazil, Sec. Gen Saarc CCI Iqbal Tabish, President Jehlum Chamber Sheikh Muhammad Iqbal, President Tribal Chamber Fayaz Ali,VP Attock Chamber Tariq Mahmood, Chairman Marble Association Shahid ur Rehman, Anayat Mirza and Sheikh Muhammad Iqbal. NNI
UBL insures debit card users KARACHI: Considering the prevailing law and order situation in the country, the United Bank Limited (UBL) has initiated a plan to provide insurance cover to over one million debit cardholders. According to a press release issued here on Friday, the UBL has signed a bancassurance agreement with an insurance company according to which any cardholder who is deprived of money within three-mile radius after using any ATM will be compensated. The agreement was signed by Najeeb Agrawalla, Group Head Marketing UBL, and Mian M A Shahid Chairman United Insurance
Company (UIC). Speaking at the occasion, Mian Shahid said that the law and order situation was not very conducive which has created a need for such customer friendly plans. He said that the ATM Card Secure Plan is a bold initiative that offers security and sold insurance cover to cardholders. Such insurance schemes are getting popular globally and such moves aimed at providing financial security should be preferred by the businesses and masses, he added. Head of Corporate and Control Assurance UBL Atif Rasheed, Head of General Banking Products
Retail Banking UBL Shahpur Ahmed, Head of Corporate Communications and Public Relations Division UBL Anita Mirza, VP Business Head Insurance Products and Networking Planning, General Banking Product Division UBL Yasum Mirza, Divisional Head Legal Division UBL Asif Fatah Sheikh were also present on the occasion. UIC officials present on the occasion included BDM UIC Aziz Memon, AGM UNI Altamash Malik, Business Development Manager UIC Ali Asad Sethi were also present on the occasion. - NNI
Raza to lead Opposition in Sindh Assembly
TV PROGRAMMES SATURDAY Time Programmes 7:00 8:00 9:05 11:00 11:10 12:00 13:10 14:00 14:10 15:00 16:00 17:30 18:00 19:05 19:30 20:03 21:00 22:03 23:00 23:05
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KARACHI: Resident Director Aurat Foundation Mah Naz Rehman and MPA Nusrat Sehar Abbasi addressing a press conference at Karachi Press Club.-Staff Photo
KARACHI: Artist Amin Kasmani describe his work to the fans during painting exhibition at Fine Arts Gallery. -Staff Photo
KARACHI: The Muttahida Qaumi Movement leader Raza Haroon,MPA, was appointed leader of Opposition in Sindh Assembly on Friday. The party was considering four names but Raza Haroon's name was finalised after consultation. The Secretary of Sindh Assembly has been informed about the party's decision. The MQM was allotted seats on opposition benches on Thursday and after almost eight years the MQM's lawmakers were sitting on opposition benches on Friday. Talking to media persons, Raza Haroon said that his party will support positive steps of the government and
will oppose the negative ones. He said that his appointment as opposition leader was the party's decision. "We will play a true Opposition's role in the assembly," He added. Addressing the assembly, Raza Haroon said that the government has given free hand to the miscreants for killing innocent people in Malir, Khokrapar areas of Karachi, adding that four MQM workers were being targeted. He alleged that the MQM workers were intentionally being killed. He warned the government that the MQM would stage protest against worsening law and order situation in Karachi if it was not controlled immediately. - INP
KARACHI: President MAP Masood Hashmi presenting memento to guest speaker of Pakistan - Island of Excellence Jawed Jabbar. Aslam Allawala, Syed Imam Ahmed, Amer Pasha, Zaki A Sharif, Talib Syed Karim also present.-Staff Photo
KARACHI: A group photo of top management of Industrial and Commercial Bank of China (ICBC) Pakistan and Bank Alfalah together at the local market orientation program .-Staff Photo
3
Saturday, July 23, 2011
Brent crude rises above $118 on Europe debt deal Uncertainty over US budget crisis caps WTI gains NEW YORK: Brent crude oil jumped above $118 on Friday, supported by Europe's latest agreement to bail out Greece, but US crude made only slight gains due to concern about talks to avert an unprecedented US default. The Brent futures contract for September rose 91 cents at $118.42 a barrel by 1517 GMT. US crude rose 25 cents at $99.38 a barrel, after earlier trading as low as $98.43. Analysts and traders said the preliminary solution to the
Yuan finishes at record high for 3rd day SHANGHAI: The yuan closed at an all-time trading high against the dollar on Friday after the People's Bank of China fixed the currency's midpoint at a record high for the third day in a row. But the yuan's strength lagged the 1 per cent fall in the US Dollar Index overnight. The lukewarm performance in the yuan was guided by the PBOC's fixing, indicating the currency's appreciation was still tightly controlled by the central bank, traders said. Global commodity prices fell slightly on Thursday, shrugging off the dollar's weakness and may set a ceiling for the yuan to rise in the near term, traders said. Fighting imported inflation has been a main reason for China to let the yuan rise this year. The benchmark Reuters Jefferies CRB index , which covers 19 mostly US-traded commodities, edged down 0.29 per cent on Thursday, having slumped 7 per cent since late April along with a general rally in the US currency from its two-year and eight-month low touched on May 2. "I am not confident of a continuous dollar fall that will support non-stop yuan appreciation, in particular because the euro debt crisis is not going to be resolved so easily," said a trader at a European bank in Shanghai, referring to the second bailout package for Greece. "So the yuan could pull back as early as tomorrow if the dollar index rebounds." Spot yuan closed at an alltime high of 6.4455 against the dollar, up from 6.4516 at the close on Thursday when it also hit an intraday historical trading high of 6.4505. It has now appreciated 5.9 per cent since it was depegged from the dollar in June 2010 and 2.23 per cent so far this year. Before trade began the PBOC fixed the yuan's midpoint at a record high of 6.4495, up from the previous day's historical high of 6.4536. The yuan has been marching upwards since the start of this year but the momentum of gains appears to have levelled off since commodity prices began to abruptly tumble in early May. The PBOC also appears to be signalling gradualism as growth in the world's second-largest economy cools, tempering inflows of hot money and reducing pressure for appreciation. -Reuters
euro-zone debt crisis presented in Brussels on Thursday was still providing some support for Brent, but ongoing wrangling over the US debt ceiling was impinging on US crude. "The US debt ceiling crisis hasn't been solved and there has been mixed economic data, so that might not be enough to keep crude above $100, even though we are up at the moment," said Gene McGillian, analyst at Tradition Energy in Stamford,
Connecticut. In the United States, efforts are continuing to secure a lastminute deficit-reduction deal before the Aug. 2 deadline to raise the country's debt ceiling. Data showing that Chinese manufacturing contracted in July also has made some analysts and traders cautious. Commodity markets are focused on the economy of China as a major source of future demand growth. Reuters
Asian currencies
Sing dlr, won rally on Greek deal; intervention caps SINGAPORE: The Singapore dollar rose to a new record and the South Korean won hit a near three-year peak on Friday as a European package to rescue Greece led investors to buy emerging Asian currencies, despite intervention by Asian authorities and technical signs being overbought. On Thursday, euro-zone leaders agreed on a second rescue package for Greece, alleviated worries about contagion risks, which have put a brake on the regions forex markets. Investors say they are waiting to see if US politicians cobble together an agreement to avoid default, but the currencies are likely to keep their bullish trend, analysts said. Emerging Asian currencies rose for the week as concerns over the debt crisis in the two developed markets eased. The Philippine peso and the Malaysian ringgit were the best performers during the week, gaining 1.3 per cent and 1.1 per cent, according to Reuters calculations. Technically, some currencies look overbought and some dealers and analysts said there could be a correction if the US politicians fail to agree a debt
deal. "Every Asian country is long US assets and if US get downgraded, that will be a mayhem," said a Kuala Lumpurbased dealer. The 14-day Relative Strength Index (RSI) for the USD/THB hit a three-month low of 28, suggesting the pair is headed higher in the short-term, and the baht could weaken from current levels. The RSI of the Singapore dollar and Korean won are also hovering around the threshold of 30, indicating weakness ahead for the Asian units. Central banks of Philippines, Singapore, Taiwan and Thailand were spotted buying greenbacks, dealers said. South Korean authorities were also spotted buying dollars, they added. Market players expect the regional policymakers to keep intervening to slow their gains. Model funds, leveraged names and proprietary accounts pushed up the Singapore dollar to a record high of 1.2086 per the greenback. Earlier, agent banks had been spotted buying the US dollars at 1.2100 but lowering the bids to 1.2090 in heavy intervention, dealers said. -Reuters
NY cotton dips as possible debt deals uninspiring NEW YORK: Cotton futures ended lower Thursday on investor sales as the prospect of a debt deal in the EU and the US failed to fire up market participants who feel the deals would just postpone solving urgent budget problems in both regions for another day, analysts said. Keith Brown, president of commodity firm Keith Brown and Co in Moultrie, Georgia, said news on the deal in the EU and in the US looks like a "kick the can down the road" agreement which does not really solve the macro issues for both areas. The key December cotton futures on ICE Futures US dropped 2.12 cents to finish at 98.63 cents per lb, trading from
96.75 cents to $1.015. On Monday, the contract finished at 96.46 cents in the lowest close for the second-position contract since early October 2010, Thomson Reuters data showed. Cotton was also pressured by the weekly export sales report from the US Agriculture Department. USDA said only a mere 31,200 running bales (RBs, 500-lbs each) of upland cotton were sold by US exporters, which traders said in an indication of how weak fiber demand has been for several weeks. Volume traded on Wednesday stood at 16,319 lots, slightly over 10 per cent behind the 30-day average, ICE Futures US and Thomson Reuters data showed. -Reuters
Copper down on dollar, supply worries cap losses LONDON: Copper inched lower on Friday as the euro fell against the dollar on concerns over the euro-zone debt crisis, but worries about supply from Chile, where workers went on strike at the world's largest copper mine, lent support. Benchmark copper on the London Metal Exchange closed at $9,675 a tonne, 0.10 down from a $9,685 a tonne close on Thursday, when the metal used in power and construction fell to its lowest level this week. Copper pared earlier gains and turned negative as the dollar rose against the euro, making metals priced in the US currency more costly for holders of other currencies. The euro eased against the dollar as investors looked past the announcement of a second rescue package for Greece and
measures to stop the debt crisis from spreading to focus on how it will be carried out. Doubts about economic growth and metals demand in top consumer China also weighed on prices, and data showing shrinking factory activity in China added to these concerns. "The Chinese numbers were nasty," said Nic Brown, an analyst at Natixis. "You are seeing a slowdown in demand, there is no doubt about that. But the question is how long and how painful this soft patch is going to be." HSBC's China Flash PMI dropped by its fastest pace since March 2009 and pointed to a monthly contraction in the country's vast manufacturing sector for the first time in 12 months, data showed on Thursday. Supporting copper, though,
workers at the world's largest copper mine, Chile's Escondida, pressed ahead with a 24-hour strike on Friday to demand that global miner BHP Billiton raise bonuses linked to lofty earnings. "Each time (a strike) happens, it reminds the market that copper is tight; it is a constant reminder that it is potentially scarce," Brown said. Markets are also watching debt talks in the United States, the world's largest economy, which have entered crunch time, with President Barack Obama and top lawmakers engaged in a sometimes chaotic drive to strike a sweeping deficit-reduction deal. US House of Representatives Speaker John Boehner said he was not yet near a deal with Obama to avert an unprecedented US debt default. -Reuters
Sterling off 5-wk high, risks poor GDP reading
Euro slips; investors focus on details of Greece deal
LONDON: Sterling took a breather on Friday, retreating from a five-week high against the dollar, but was on track for its best weekly performance since late May as investors cheered a euro-zone deal on Greece. It ran into steady profit-taking at higher levels and was last trading flat against the dollar at $1.6312 , off a five-week high of $1.6344 struck on Thursday. It gained nearly 1 per cent this week. Traders cited decent bids at $1.6260 with intra-day stops below $1.6250. Technical analysts highlighted support at the 100-day moving average around $1.6242 and the 55-day moving average around $1.6206. "Sterling is well bid at the moment and it looks like it wants to keep going," a trader said. Strategists said between the US dollar, the euro and sterling, short-term investors were bidding the pound as the UK economy had a credible fiscal plan in place. On the other hand, political wrangling over whether to raise the US debt ceiling by the Aug 2 deadline to avoid a debt default and possible credit rating downgrade weighed on the greenback while the euro was still digesting a second rescue package for Greece. The euro was last down 0.4 per cent at 88.03 pence. Traders cited short-term resistance at 88.50 pence, while downside support came in around the 21week moving average at 88.00 and 87.03 pence, the 100-week moving average. Weak UK economic data has undermined sterling's chances of gaining against the euro on concerns over the euro-zone debt crisis, as euro-zone interest rates are on the rise while UK rates are set to stay on hold. The next key event for sterling is the release of secondquarter GDP data on Tuesday. Analysts are predicting sluggish growth of 0.1 per cent from the previous quarter and warn there is the potential for a downside surprise. Lacklustre growth or a contraction would add to expectations the Bank of England will keep interest rates on hold until late 2012, and increase speculation policymakers may consider another round of quantitative easing (QE) -- pumping more cash into the market - to kickstart the economy. -Reuters
NEW YORK: The euro slipped against the dollar on Friday as investors focused on how the second rescue package for Greece and measures to stop the European debt crisis from spreading will be implemented. The euro hit a two-week high of $1.4440 on electronic trading platform EBS in early global trading but further gains were seen as limited. Analysts highlighted the risks to the deal being implemented quickly and questions over long-term debt sustainability. "What you saw yesterday was a relief rally as the initial numbers that came out were better than expected," said John Doyle, strategist at Tempus Consulting in Washington. "Now we're looking for details on how effective the plan might actually be." The euro was last at $1.43607, down 0.4 per cent on the day after jumping nearly 1.5 per cent on Thursday. Despite easing on Friday, it was on track for its
Indian sugar ends steady MUMBAI: India's sugar futures ended steady on Friday after hitting contract highs in the previous session as profit-taking outweighed good stockists demand ahead of the festive season next month, dealers said. The most active sugar for August delivery on the National Commodity and Derivatives Exchange ended 0.39 percent lower at 2,838 rupees per 100 kg. It hit a contract high of 2,858 rupees in the previous session. In Kolhapur, a key market in top producer Maharashtra, the most traded S-variety rose by 0.3 percent to 2,717 rupees per 100 kg ($61.26) per 100 kg. "Stockists have been very active in the market for the past few days. They are expecting good retail demand next month due to festivals," Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. India has made available 1.56 million tonnes of non-levy sugar for July, lower than the 1.65 million tonnes it had released last month, the government said in a statement. India, the world's top consumer and the biggest producer after Brazil, 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, industry estimates. India can export 3 million tonnes of the sweetener in the 2011/12 season beginning October as it is likely to produce a surplus for the second year in a row, a senior official from trade house ED & F Man said on July 21. -Reuters
Focus shifts to US debt ceiling talks first weekly gain against the dollar since the trading week ended July 1. The single currency jumped as high as 1.1894 Swiss francs, according to EBS data, -- around 4.5 per cent above the record low of 1.1365 francs hit at the start of the week -- as investors slashed safe-haven positions in the franc. It last traded at 1.17252, down 0.3 per cent. The dollar rose 0.2 per cent against the Swiss franc. "The deal is positive. A debt/growth deal is the only solution for an insolvent country and that is what the EU has done, but political and implementation risks remain," Lena Komileva, global head of G10 currency strategy at Brown Brothers Harriman in London, said of the Greece plan. Euro-zone leaders agreed on a bailout package that will make it easier for Greece to reduce debt by easing terms of loans and by making investors in Greek bonds
shoulder some of the burden. Provisions were also made for limiting the damage from ratings agencies declaring Greece to be in temporary default. Fitch ratings said it will place the Greek sovereign issuer in "restricted default" in due course. But analysts said the risk of the Greek crisis spreading to other indebted euro-zone countries would remain if Spanish and Italian funding costs fail to reverse a recent spike higher. "We could see some more euro/dollar upside in the near term ... Beyond the next few weeks, however, we suspect that the upside in euro/dollar could be difficult to sustain," said Valentin Marinov, currency strategist at Citi in London. The euro could extend gains against the dollar if concerns grow about the limited progress made by US lawmakers in budget talks ahead of an Aug. 2 deadline to raise the US debt ceiling. -Reuters
Indian rupee climbs on euro rally
NZD & Aussie rally; set to fly higher on EU deal
MUMBAI: The Indian rupee rose on Friday as euro regained poise against the dollar propelled by a more ambitious than expected second rescue package for Greece, and as local shares gained, but dollar demand from oil importers prevented a sharper rise. The partially convertible rupee ended at 44.3625/3725 per dollar, 0.3 per cent stronger than its 44.515/525 close on Thursday, but off the day's high of 44.3450. "The rupee is likely to remain strong next week. There are good flows that are supporting it," said AshtoshRaina, head of foreign exchange trade atHDFC Bank, who expects the rupee to trade in a 44.30-44.60 range next week. Indian shares rose for the fourth week in five, gaining 1.6 per cent on Friday, joining the global rally . But underlying mood
WELLINGTON/SYDNEY: The New Zealand dollar eyed a 30-year high while the Aussie hovered close to a two-month peak on Friday, as investors piled into risk after European leaders finally made progress in dealing with Greece's debt problems. The kiwi held firm at $0.8625, after scaling a fresh peak at $0.8643 overnight. The currency has gained two US cents, or nearly 2 per cent, thisweek driven by the prospect of higher interest rates and investor optimism as the eurozone debt worries appear to be reaching resolution. "It's quite well supported, there's a broad US dollar selloff at the moment and that along with the Aussie holding above $1.08 has helped kiwi to reach $0.8600," said Daniel Brdanovic, senior manager treasury at HSBC. "If the (US) debt ceiling debate is solved this weekend that should support risk currencies as well." The currency is seen supported at $0.8590 and then $0.8540. Resistance is seen at $0.8643, its latest peak, then $0.8668. The Aussie also received a lift, touching a two month peak of $1.0858 overnight on broadbased selling of the US dollar. It last traded at $1.0840, from $1.0834 in New York, having gained nearly 2 per cent this week. "We expect the Aussie to head higher to $1.0890$1.0900 when Europe comes in... It has come a long way very quickly," said Nick Socratous, head of global foreign exchange at HSBC. Markets will now focus on the US debt ceiling issue, which seems a bit more promising despite confusion overnight over how much progress Washington lawmakers had exactly made to avoid default. -Reuters
remained cautious before the Reserve Bank of India's policy review on Tuesday, where the central bank is widely expected to announce a 25 basis point rise in key lending rate. "Actually, today the market was quiet. The rupee opened stronger and then nothing much happened. It continued to hover around that level," a trader with a foreign bank said. Dollar demand from domestic oil firms for import payments checked the rupee's rise, dealers said. The one-month onshore forward premium was at 23.50 points from 24 points on Thursday, while the threemonth was at 72.25 points from 70.50 points and the oneyear was at 234.75 points versus 228.75. One-month offshore non-deliverable forward contracts were quoted at 44.47, weaker than the onshore spot rate. -Reuters
Palm oil up on talk of slowing output KUALA LUMPUR: Malaysian palm oil futures bounced on Friday as firmer overseas markets and fresh talk of a dip in production lifted sentiment. The palm oil market has been choppy in the past week as concerns over the US and euro debt crisis deepened this week. It has lost 17 per cent so far this year thanks to higher supply although a possible slowdown in output in July and August could recover some losses. "Market players said that the weather is bringing bad yields, therefore production in July is down slightly," said a trader in Kuala Lumpur. Traders also expected output to fall even more next month as plantation workers in major producing countries will take long break for a Muslim fasting observance, limiting supply
and boosting prices. The benchmark October crude palm oil contract on Bursa Malaysia Derivatives ended up 0.3 per cent to 3,140 Malaysian ringgit ($1,048.414) per tonne. Overall traded volume fell to 20,235 lots of 25 tonnes each from the usual 25,000 lots. Palm oil was partly lifted by firmer grains markets in Asia hours, which rose on bargain hunting after two straight sessions losses triggered by forecasts of milder weather in the US Midwest. But weather concerns still persisted. A historic drought in the southern US Plains intensified in the last week and contributed to dry conditions emerging in the heart of the Midwest crop belt, a weekly US climatologists' report said Thursday. -Reuters
Gold rises 1pc as concerns over debt persist LONDON: Gold rose 1 per cent on Friday, erasing early losses, as reservations over this week's bailout plan for debtladen Greece and concerns over negotiations to raise the US debt ceiling lifted interest in the metal as a safe store of value. The precious metal retreated from this week's record high at $1,609.51 an ounce after European leaders agreed a rescue package for Greece on Thursday, boosting appetite for assets seen as higher risk, like stocks, at the metal's expense. However, it has since rebounded as investors moved back into safe havens like gold, German bunds and the Swiss franc as they digested the details of the plan. "The euro-Swiss franc is the same story, it moved quite aggressively (in the wake of
the plan) to above 1.18 and now it's back below there," said Georgette Boele, head of forex and commodities research at ABN Amro. "That is giving the same signal -- we had an agreement, and now players want to look at the details. If they are getting confident that the agreement is good, you will probably get a new wave of confidence in the markets in general and that will put gold under pressure." Spot gold rose as high as $1,604.81 an ounce and was up 0.9 per cent at $1,601.09 an ounce at 1342 GMT. Prices have risen more than 12 per cent so far this year. The German Bund future turned positive as enthusiasm over the euro-zone rescue plan gave way to concerns it will not be enough to get the heavily-indebted country back on a sustainable fiscal path and
ring-fence contagion. "While yesterday's agreement was as comprehensive as it could possible be, many legal and political issues need to be ironed out and the crisis is far from solved," said Swiss bank UBS in a note. "Although gold could lose steam in the short term, Europe will remain a primary catalyst for further gains over the medium term. That gold hasn't reacted to any great extent suggests that many investors are not fully convinced by yesterday's developments." In Washington, efforts to avoid a US default are set to enter a critical stage on Friday, with President Barack Obama and top lawmakers engaged in a sometimes chaotic drive to strike a sweeping deficit-reduction deal. -Reuters
4
Saturday, July 23, 2011
The Financial Daily International Vol 4, Issue 260
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Karachi bleeds again Killers had a free day on Friday in Karachi as over a dozen people were killed. These were not the encounters or target killings but ambush. The deceased mostly belonged to a political party. It once again became evident that this group is being victimized and being pushed to wall. In the latest killings in Qasba attempts were made to kill people from two ethnic groups to establish that it was an attempt to prove 'we own the city'. There is no ambiguity that people belong to different linguistic groups have been living in Karachi for ages, have performed inter-faith and inter-linguistic marriages. Therefore, it may be said that a new breed has emerged which is a blend of different linguistic groups. The ruling party, PPP, feels a little offended when it is reminded about the responsibility of maintaining law and order in the city and it holds other two parties MQM and ANP responsible for the mayhem. Since the provincial interior belongs to PPP it has to face the music. Saying that a third hand is involved just can't free the government from its responsibility. Some of the cynics go to the extent of saying that 'Supari System' followed in Mumbai underworld is being replicated in Karachi. There are thousands of mercenaries willing to kill people in the name of religion, language and belonging to specific areas. These people have the latest arms and have established safe heavens throughout the city. However, Kati Pahari and Lyari have become the most notorious. One of the latest hideout is Rabia City in Gulistan-e-Jauhar. The real point of concern is that personnel of security agencies are scared of entering these areas. Though, PPP, ANP and MQM have agreed to remove wall chalking and flags, one could still find hundred of flags on rooftops and fall with highly provocative slogans. This confirms that there is a blatant disregard to the agreement reached between the political parties. Some of the cynics also say that initially some highly undesirable elements were inducted in the political parties to prove the nuisance value. However, now political parties have no control over these elements. Though, all the three parties demand weeding out these elements but as and when some of the most obvious players are arrested, pressure is exerted on police for their release. The harsh reality is that now various areas are controlled by different ethnic groups. They often try to extend their outreach, which results in armed conflicts. However, lately it has become evident that certain quarters are adamant to create anarchy in Karachi, with the ultimate objective of weakening Pakistan. In fact the city has become 'Panipat ka maidan' where wars are being fought regularly.
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.
Somali rebels say UN food agency still banned I
slamist rebels in Somalia ÂŹ who control the parts of the country where famine was declared this week have said aid agencies they expelled from those areas last year cannot return, reversing a previous pledge. The al Qaeda-linked al Shabaab militants imposed a ban on food aid in 2010, which the UN and Washington say has worsened the crisis, before appearing to reverse it last week. The UN World Food Program (WFP) was among several groups ordered out of rebel areas which are now preparing to return, describing the situation in Somalia as "extremely dire." The United Nations told Reuters it had not heard about any new position from the rebels and planned to take last week's pledge at face value and push ahead with food shipments by air and sea. Al Shabaab had promised to allow relief agencies with "no hidden agendas" greater access to their territory. "The so-called aid agencies that were already banned and named are not part of the agencies we free to work in al Shabaab areas," al Shabaab spokesman, Ali Mohamud Raghe, told a news conference late Thursday in a rebel-held part of capital Mogadishu. "They had problems with people and had a hidden agenda. We shall also expel any agency that causes problems for Muslim society," he
added, urging hungry Somalis to stay in their homes and wait for the rain to come rather than going to foreign-run refugee camps. Some 10 million people are affected by famine and drought in a region, dubbed the "triangle of death" by local media, that straddles Kenya, Somalia and Ethiopia. The UN told Reuters it had a "moral imperative" to get back into
drought gripping the south of the country and of politicizing the humanitarian crisis. Some analysts in the region say the insurgents will have to allow aid in for fear of a public backlash if they do not, but that allowing Western organizations into their territory is difficult to sell to al Shabaab's more hardline leaders. WFP at one stage faced demands
Some analysts in the region say the insurgents will have to allow aid in for fear of a public backlash if they do not, but that allowing Western organizations into their territory is difficult to sell to al Shabaab's more hardline leaders. the areas from which it had been ordered out. "The approach is to test the ground, to probe and see how far we get," WFP spokesman, David Orr, told Reuters in Nairobi. "We are going to push the operation out unless we hear any different." "It's not if we go in but when we go in. We know it will be risky but we're going to go with it," he said. The WFP delivers its food in Somalia through local aid groups and not directly, Orr said. Al Shabaab accused the United Nations Thursday of exaggerating the severity of the
from the rebels to remove women from their jobs and pay thousands of dollars for security every six months. Aid agencies ramped up efforts across the region Friday and intensified international appeals for funding as the crisis began to make international headlines. The ICRC, one of the very few aid agencies which has kept up its operations in central and southern Somalia, said it had been able to operate throughout the area. "... we have come to agreements on conditions under which we operate in these areas and it been has (possible)
for us to carry out all the operations that we have planned until now and also during the last few months," ICRC spokeswoman Nicole Engelbrecht told reporters in Geneva. UNICEF and UNHCR have maintained a limited presence working through local partners and are working to scale up their operations. UNICEF, the UN's children agency, were only able to provide care to 35,000 of 640,000 acutely malnourished children in southern Somalia, spokeswoman Shantha Bloemen said. Nearly 135,000 Somalis have fled since January, mainly to Kenya and Ethiopia. An average of 1,700 and 1,300 Somalis are arriving in Ethiopia and Kenya respectively each day. The UN defines famine as at least 20 percent of households facing extreme food shortages, a crude mortality rate of more than 2 people per 10,000 per day and malnutrition rates of above 30 percent. Countries including the United States and Britain have stepped up pledges but charities have criticized the response of many governments to funding an estimated $800 million shortfall. Somalia has had no effective central government for two decades, worsening the impact of recurring droughts. The rebels control pockets of the capital Mogadishu and swathes of southern and central Somalia.-Reuters
Chrysler set to outshine Fiat S
trong US sales for Chrysler and growth in Brazil will help offset a weak European car market for Fiat SpA, which is tightening its grip on the US automaker. Fiat will report second-quarter results on Tuesday, incorporating Chrysler for the first time after raising its stake in the company past the 50 per cent mark last month. Fiat had taken an initial 20 per cent of Chrysler two years ago under a bailout deal with the US government. Fiat CEO Sergio Marchionne, who also runs Chrysler, is expected to announce a unified management structure of 25 top executives for both companies, paving the way for a merger while making a Chrysler initial public offering less likely. "In his mind, Marchionne already thinks of the two companies as a single entity," said a source close to the situation. Marchionne, who has made Fiat one of Europe's top turnaround stories,
wants to elevate the Italian carmaker to a global player through a revamped Chrysler. A merger would reduce costs and improve integration, helping to achieve a target of around 100 billion euros ($143.8 billion) in combined revenue by 2014. "With the business strategies of Fiat and Chrysler irrevocably linked, we believe a merger is a logical next step," said Goldman Sachs in a research note this week, reinstating Fiat as a "conviction buy" with a price target of 12.9 euros. Second-quarter results consolidating Chrysler from May 24 are expected to show a trading profit of 485 million euros, according to an survey of analyst expectations distributed by Fiat. MORE GROWTH Excluding Fiat's luxury brands Ferrari and Maserati, Fiat will contribute 175 million euros of that total for the three months to June, compared with 155 million euros for Chrysler in the month of June alone.
Fiat is known for its relatively lowcost small cars, where profit margins are narrower, while Chrysler earns more money per unit from its sedans and SUVs. "Chrysler will generate a lot more cashflow and growth than Fiat very soon," said Bruno Lapierre, an analyst with brokerage Cheuvreux, explaining why Marchionne would want to take over all of the US-based group. Chrysler's US sales rose 21 per cent in the first half of 2011, while Fiat's European sales fell 12.7 per cent in the same period. Fiat is doing much better in Brazil, where it is the leader of a market that hit record sales in the first half of 2011 and is a key target for auto makers struggling with stagnating European sales. The decision to hold Tuesday's board meeting there highlights the growing importance of the area for Fiat. Marchionne boosted Fiat's stake in Chrysler cheaply and more quickly than
expected. It has 53.5 per cent after buying the US Treasury's and Canadian government's stakes. By the end of this year its holding will have risen to 58.5 per cent an increase linked to Chrysler developing a car that gets 40 miles per gallon of gasoline. But he needs to decide what to do with the 41.5 per cent of Chrysler that is owned by VEBA, the United Auto Workers' healthcare trust. After initially planning an IPO that would allow VEBA to cash in on its stake, Marchionne now seems to be aiming to buy it although he says he is not in talks with VEBA yet. If he goes for a full takeover of Chrysler, Marchionne will need to convince ratings agencies Moody's and Fitch -- which have already warned they may downgrade Fiat's debt -- that Fiat's finances are solid enough. That has led to speculation Fiat may float Ferrari, although Ferrari's chairman said this week there was no plan to do so.-Reuters
No clear pointers in Norway twin attacks
S
ecurity experts say suspicion is likely to fall on both Islamists and right-wing extremists following a deadly bombing and a shooting at a political gathering in tranquil Norway. It was not clear if the attacks were linked, but the possibility of a complex, hybrid assault mades it difficult to make an early call as to the likely political orientation of the assailants, security experts said. A big bomb damaged Norway's main government building in the capital Oslo on Friday and police said seven people were killed and two badly wounded. There was no claim of responsibility. Shortly afterwards, reports in local media came through of a shooting incident at Utoeya, an island south of Oslo where Prime Minister Jens Stoltenberg's Labour party youth section's yearly gathering was taking place. Daily newspaper VG said on its website a man dressed as a policeman was shooting wildly and had hit many people. TV2 said several people were killed. Bombings in city centres and marauding guns attacks are both tactics that have been used by Islamist militant gangs in recent years, mostly notably by al Qaeda-aligned guerrilla groups in Asia. But in one unconfirmed report, the London-based Exclusive Analysis risk consultancy said the man in the shooting incident apparently infiltrated the party gathering on the pretence that he had been sent by the police as a security measure in the wake of the Oslo explosion. "As such, it is likely he was ethnically Norwegian. This could indicate the involvement of a far-right group rather than an Islamist group, though it is
also the case that the Labour Party would be a favourable target for Islamist groups due to its role in authorising Norwegian military deployments in Afghanistan," it said. Nato member Norway has been the target of threats, if not bombs, before, notably over its involvement in conflicts in Afghanistan and Libya. But Exclusive Analysis said there were no known domestic militant groups in Norway with the capability to stage large car bomb attacks. The attacks happened just over a year after three men were arrested on suspicion of having links to al Qaeda and planning to attack targets in Norway. Violence or the threat of it has already come to the other Nordic states: a botched bomb attack took place in the Swedish capital Stockholm last December and the bomber was killed. Denmark has received repeated threats after a newspaper published cartoons of the Prophet Mohammad in late 2005, angering Muslims worldwide. If Islamist militants are eventually found to be responsible, it would be the first such attack to have killed victims in Europe since suicide bombings in London killed 52 people in 2005. "We need to be cautious because so little is known, but a bombing of this sort is either the work of far-right or Islamist militants," said Majeed Nawaz, who heads Britain's Quilliam counter-extremism think tank. "Of the two, Islamists are the more likely." A prominent militant propagandist called the bombings a "lesson" for other European countries and speculated that extremists were behind the
attack, according to the SITE terrorism monitoring service. MILITANT SAYS BOMB IS "LESSON" In a message posted on the password-protected Shumukh al-Islam forum, the militant, who writes under the name of Abu Suleiman al-Nasser, said that the Oslo bombings are "another message arriving in the countries of Europe from the mujahideen (holy warriors)." Al-Nasser has made several threats to European countries participating in the war in Afghanistan, SITE said. Another posting by a participant called Emir Grozny said: "Threat against the Prime Minister of Norway. You have only moments to withdraw your soldiers from the grave of Khurasan [Afghanistan] and if not you will see blood running in the streets." However, the fact that the message was posted after the event means it cannot yet be confirmed if this individual had any relation to the attack, Exclusive Analysis said. Security experts said Western intelligence agencies will be monitoring militant online discussion forums like Shumukh and the phones and emails of known militant sympathisers and suspects to detect clues to the identity of the perpetrators. They will also be likely to be monitoring right-wing extremists, some said. Anna Murison of Exclusive Analysis said Norway was not a priority country for jihadists, and any al Qaeda targeting of Norway would probably be opportunistic, based on the fact that it had happened to recruit a Norwegian. "We also assess that any plans for spectacular attacks in Western Europe would probably have been altered or
put on hold following (Osama) bin Laden's death, pending internal security reviews," she said, referring to the killing of the al Qaeda leader in a U.S. raid in Pakistan in May. "A further possibility, therefore, is that the attack was led by Norwegian jihadist sympathisers acting on their own initiative, possibly after receiving basic training from jihadist groups overseas." NORWAY SEEN AS MEMBER OF "CRUSADER" ALLIANCE Nato member Norway has sometimes in the past been threatened by leaders of al Qaeda for its involvement in Afghanistan. But political violence is virtually unknown in a country known for sponsoring the Nobel Peace Prize and mediating in conflicts, including in the Middle East and Sri Lanka. It has also taken part in the Nato bombing of Libya, whose leader Muammar Gaddafi has threatened to strike back in Europe. In a July 2010 article in the Atlantic magazine, Norwegian academic Thomas Hegghammer, one of the world's leading scholars of Islamist extremism, cited three possible reasons why "international good guy" Norway was of interest to al Qaeda. The article, co-authored with political scientist Dominic Tierney, said Afghanistan and the cartoon issue were possible factors. Norway has been in the International Security Assistance Force in Afghanistan from its foundation in late 2001. And in early 2006, a small Norwegian newspaper angered many Muslims by reprinting Danish cartoons depicting the Prophet Muhammad.-Reuters
5
Saturday, July 23, 2011
Market
KSE 100 Index
Symbols
Volume
126,254,688
Value
3,605,952,494
Trades
44,121
Advanced Declined Unchanged Total
Current High Low Change
118 110 112 340
All Share Index
12,476.77 12,543.18 12,468.78 h2.00
Current High Low Change
8,644.60 8,690.61 8,640.37 h1.68
OIL AND GAS
Company
Paid up Cap(mn)
PE
High Low 1,597.41 1,575.41 Total cos Defaulter cos 12 P/BV (x) ROE (%) 3.53 32.54
Open
High
Low
Attock Petroleum 691 6.86 380.03 Attock Refinery 853 4.33 132.14 BYCO Petroleum 3921 9.26 Mari Gas Company 735 4.25 104.43 National Refinery 800 5.07 367.13 Oil & Gas Development 43009 10.54 154.49 Pak Petroleum 11950 7.86 215.22 Pak Oilfields 2365 8.44 382.10 Pak Refinery Limited 350 43.73 78.66 P.S.O 1715 3.72 260.09 Burshane LPG 226 - 24.29 Shell Pakistan 685 7.96 223.14
382.00 134.99 9.40 106.00 371.99 156.48 217.49 386.50 79.95 264.10 25.49 225.50
378.50 131.51 9.20 104.00 367.00 154.51 214.65 381.25 77.75 258.51 23.13 224.00
Close Chg 379.53 131.92 9.28 104.02 367.30 155.83 215.09 382.72 78.27 260.57 24.29 224.04
-0.50 -0.22 0.02 -0.41 0.17 1.34 -0.13 0.62 -0.39 0.48 0.00 0.90
Last 60 days High Low
Volume 34391 1767621 550159 7031 331213 895848 1244548 509924 11670 350891 426 3364
394.90 143.50 10.10 113.75 390.00 157.51 219.70 391.69 89.25 291.50 25.60 233.00
369.56 120.40 7.93 98.50 323.50 141.10 202.50 321.10 77.01 258.21 22.11 207.50
% Change 0.39 5-Day High 1,584.09 5-Day Low 1,552.35
2010 Div BR (%) (%) 300 31 200 55 90 255 80 120
2011 Div BR (%) (%)
20B115.00 - 23.43 - 30.00 20B100.00 -100.00 - 80.00 -
-
Company Agritech Limited
3924
PE
Open
-
18.14
High Low 1,924.95 1,894.57 Total cos Defaulter cos 36 6 P/BV (x) ROE (%) 3.15 35.00
Close 1,904.66 Listed cap 52,251.88 mn Payout (%) 48.81
High
Low
Close Chg
Volume
18.99
17.15
18.03 -0.11
12847 5983 7506
Change -2.12 Market cap 391,023.13 mn Div Yield (%) 5.42
Last 60 days High Low 22.68
16.60
-
105.00 167.00
90.50 154.41
60 135
4813 1996 1020
3.45 9.50
59.89 1.95 6.30
60.80 2.08 6.79
59.31 1.85 6.35
59.56 -0.33 1.98 0.03 6.46 0.16
48429 131566 593287
66.00 2.79 8.40
56.10 1.83 5.60
Dewan Salman Dynea Pak
3663 94
3.34
2.50 9.90
2.57 10.45
2.38 10.00
2.41 -0.09 10.20 0.30
1044191 1200
3.65 11.50
Engro Corporation Ltd
3933
6.77 151.93
153.30 151.30 151.59 -0.34
436052
10.34 10.01 10.15 17.39 16.90 16.95 165.35 163.18 163.90 48.05 46.96 47.52 13.00 12.61 12.81 157.90 156.50 157.03
250 341
7.90 103.72 4.84 158.85
Engro Polymer Fatima Fertilizer Fauji Fertilizer Fauji Fert.Bin Qasim Ghani Gases Ltd ICI Pakistan
6635 - 10.24 22000 - 17.13 8482 10.09 164.54 9341 7.11 46.98 725 10.76 12.80 1388 8.72 156.36
Lotte Pakistan Nimir Ind Chemical Sardar Chemical Sitara Chem Ind
15142 3.56 12.82 1106 13.52 3.01 60 2.27 1.50 214 2.45 100.45
Sitara Peroxide
551
5.21
16.55
% Change -0.11 5-Day High 1,946.73 5-Day Low 1,904.54
2010 Div BR (%) (%)
Dawood Hercules Descon Chemical Descon Oxychem Ltd.
BOC (Pak) Clariant Pak
2011 Div BR (%) (%)
-
-
-
25B
-
-
50 300B -
-
-
2.11 9.51
15
-
-
-
200.50
148.75
60
20B
-
-
-0.09 -0.18 -0.64 0.54 0.01 0.67
107248 12.67 4432921 17.60 3951671 172.97 6442283 48.05 6615 13.90 459123 160.00
9.64 12.10 137.51 41.10 11.40 148.02
- 27.5R 130 25B 45.00 65.5 - 12.50 175 -
-
105.00 103.03 104.97 1.25 159.50 158.05 158.47 -0.38
13.04 3.17 1.25 99.99
12.75 3.05 1.25 98.01
12.76 3.11 1.25 98.75
-0.06 0.10 -0.25 -1.70
715566 843839 500 300
16.90 3.30 1.89 104.25
12.43 2.26 0.75 94.67
5 25
5B
-
-
16.99
16.51
16.83 0.28
200384
19.12
16.05
-
-
-
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,077.45 Turnover 12,415 P/E (x) 5.45 Company
Paid up Cap(mn)
PE
Open
High
High Low 1,083.66 1,068.46 Total cos Defaulter cos 4 1 P/BV (x) ROE (%) 0.41 7.47 Low
Close Chg
Open 754.10 Turnover 9,306 P/E (x) 5.18 Company
Close 1,076.49 Listed cap 1,186.83 mn Payout (%) 25.28
Change -0.96 Market cap 2,970.90 mn Div Yield (%) 4.64
Last 60 days High Low
Volume
Century Paper
707
-
15.00
15.15
14.80
15.05 0.05
6517
18.00
14.31
Pak Paper Product Security Paper
50 411
1.90 7.21
44.50 40.90
45.00 41.00
44.00 40.70
44.50 0.00 40.75 -0.15
300 5598
45.59 42.80
39.36 37.00
% Change -0.09 5-Day High 1,085.50 5-Day Low 1,075.48
2010 Div BR (%) (%) -
2011 Div BR (%) (%)
-
-
-
2533.33B 50 -
-
-
Paid up Cap(mn)
Pak Int Cont.TerminalSPOT 1092 PNSC 1321
PE
Open
High
Low
79.98 24.56
81.98 24.60
80.00 24.25
Company
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Crescent Steel Dost Steels Ltd Huffaz Pipe XD Inter.Steel Ltd.
565 1.88 675 555 22.32 4350 -
26.76 2.43 12.40 13.60
27.90 2.40 12.90 13.87
26.80 2.27 12.40 13.78
27.77 2.32 12.50 13.86
International Ind
1199
51.06
51.70
51.00
51.20 0.14
9.16
1.01 -0.11 0.10 0.26
Close 1,043.28 Listed cap 3,596.11 mn Payout (%) 30.91
Change 12.28 Market cap 15,593.32 mn Div Yield (%) 11.38
Last 60 days High Low
Volume
% Change 1.19 5-Day High 1,043.28 5-Day Low 1,024.38
2010 Div BR (%) (%)
2011 Div BR (%) (%)
267422 68501 512 26000
29.27 3.10 12.95 15.06
25.70 1.62 11.05 0.00
30 -
- 20.00 25B 15.00 -
-
49445
52.75
48.52
40
20B
-
15
Open 1,115.09 Turnover 163,878 P/E (x) 3.54 Paid up Cap(mn)
Company
Paid up Cap(mn)
Al-Abbas Cement
PE
Open
High
Low
Close Chg
Close 882.50 Listed cap 54,792.74 mn Payout (%) 19.04
Change 11.26 Market cap 65,309.28 mn Div Yield (%) 2.76
Last 60 days High Low
Volume
% Change 1.29 5-Day High 882.50 5-Day Low 862.85
2010 Div BR (%) (%)
3657
-
2.54
2.55
2.40
2.41 -0.13
44535
3.25
2.35
Attock Cement
866
6.21
49.48
49.89
48.75
49.05 -0.43
13470
56.01
48.00
Berger Paints
182
-
13.85
14.20
13.80
14.20 0.35
6668
16.50
12.76
- 122R
-
-
Cherat Cement
956 43.57
9.00
9.44
8.90
9.15 0.15
5260
10.60
8.50
-
-
-
-
982 16.15
Dadabhoy Cement
- 100R
2011 Div BR (%) (%)
50
-
-
-
-
-
2.06
2.11
2.01
2.10 0.04
15531
2.24
1.50
-
-
-
Dewan Cement
3891
-
1.66
1.71
1.67
1.69 0.03
3911
2.67
1.36
-
-
-
-
DG Khan Cement Ltd
4381 31.61
23.56
24.02
23.60
23.71 0.15
2083902
25.85
21.31
-
20R
-
20R
Fauji Cement
6933
7.14
4.08
4.20
4.09
4.14 0.06
297956
5.04
3.99
-
-
-
92R
Fecto Cement
-
502
4.41
5.15
6.15
5.00
5.12 -0.03
164035
7.44
4.55
-
-
-
-
Flying Cement Ltd
1760
-
1.24
1.35
1.24
1.28 0.04
3350
1.95
1.20
-
-
-
-
Gharibwal Cement
4003
-
5.83
6.10
5.01
5.59 -0.24
68412
9.48
4.25
-
-
-
-
1288
-
6.00
6.40
6.00
6.39 0.39
18000
7.60
5.85
-
-
-
-
13126 66.25
2.64
2.74
2.62
2.65 0.01
288721
3.35
2.10
-
-
-
-
Kohat Cement Lafarge Pakistan Cmt. Lucky Cement
3234
6.06
72.88
75.50
72.99
74.57 1.69
3416340
77.43
66.93
40
-
-
-
Maple Leaf Cement
5267
-
2.06
2.20
2.05
2.07 0.01
108015
3.05
1.97
-
-
-
-
Pioneer Cement
2271
-
5.30
5.71
5.35
5.35 0.05
1804
6.34
4.50
-
-
-
-
721
-
6.96
7.17
6.50
7.00 0.04
1332
7.49
5.25
-
-
- 100R
Shabbir Tiles Thatta Cement
997
-
16.16
16.10
15.46
15.46 -0.70
501
20.90
15.46
-
50R
-
-
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 973.32 Turnover 29,285 P/E (x) 2.80
High Low 994.66 979.40 Total cos Defaulter cos 13 2 P/BV (x) ROE (%) 1.23 43.91
Close 971.93 Listed cap 3,043.31 mn Payout (%) 15.55
Change -1.39 Market cap 36,210.78 mn Div Yield (%) 5.55
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Cherat Packagin
172
2.40
47.06
ECOPACK Ltd Ghani Glass
230 1067
Company
% Change -0.14 5-Day High 975.48 5-Day Low 971.50
2010 Div BR (%) (%)
2011 Div BR (%) (%)
49.20
47.00
48.93 1.87
36609
54.48
46.00
20
25B
-
50R
5.46
1.42 53.70
1.49 53.71
1.29 53.70
1.39 -0.03 53.70 0.00
18353 1344
1.80 58.50
1.10 51.50
25
10B
-
-
MACPAC Films Merit Pack
389 2.24 47 12.26
11.83 26.45
12.81 27.77
11.15 25.13
11.22 -0.61 27.34 0.89
6917 1120
15.21 29.50
9.78 24.02
-
-
-
-
Packages Ltd Tri-Pack Films
844 17.19 103.11 300 6.79 175.02
106.90 103.50 103.11 0.00 176.00 173.00 173.99 -1.03
146 1400
118.00 181.99
101.75 158.10
32.5 100
-
-
-
INDUSTRIAL ENGINEERING High Low 1,801.67 1,778.87 Total cos Defaulter cos 11 1 P/BV (x) ROE (%) 3.26 38.02
Close 1,790.32 Listed cap 1,336.62 mn Payout (%) 131.49
Company
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
66
3.66
10.16
10.24
10.00
10.00 -0.16
4020
10.24
Dewan Auto Engineering 214
-
1.15
Ghandhara Ind
213
9.30
Millat Tractors
366
9.32 610.35
Pak Engineering
57
-
8.00
56.20
1.45 7.81
1.15 7.81
1.15
57.75
55.00
0.00
7.81 -0.19
618.00 610.00 613.40 56.20
Kohinoor Industries Limited
211 2000
2.15
7.70 0.71
Last 60 days High Low
8458 848
91.20 29.65
67.31 22.90
% Change 1.84 5-Day High 783.31 5-Day Low 754.10
2010 Div BR (%) (%) 40 15
2011 Div BR (%) (%)
- 50SD -
-
High Low 1,119.10 1,103.16 Total cos Defaulter cos 19 4 P/BV (x) ROE (%) 0.90 25.35
Close 1,109.01 Listed cap 6,768.53 mn Payout (%) 20.42
High
Low
Close Chg
Volume
68.25 235.16 41.47 123.97 28.00 2.90 167.00 3.10 10.14 209.97 64.02
69.00 238.25 43.54 124.99 29.00 3.00 170.99 3.50 10.20 208.00 64.99
68.50 235.00 42.00 121.25 26.70 2.86 166.25 3.10 10.10 206.00 64.01
68.88 0.63 236.94 1.78 43.54 2.07 124.07 0.10 29.00 1.00 2.91 0.01 166.30 -0.70 3.50 0.40 10.10 -0.04 206.00 -3.97 64.02 0.00
897 2552 4649 543 32769 104606 3310 1129 10000 500 2923
Change -6.09 Market cap 41,073.88 mn Div Yield (%) 5.77
Last 60 days High Low 73.00 241.00 43.54 160.00 35.70 3.46 235.00 3.80 11.58 232.53 72.50
68.00 206.00 35.00 112.10 26.70 1.50 163.10 2.90 9.00 201.00 61.35
2010 Div BR (%) (%) 90 100 50 25 60 150 5
% Change -0.55 5-Day High 1,115.09 5-Day Low 1,101.11 2011 Div BR (%) (%)
20B 15B 65.00 - 60.00 - 50.00 -
15B 25B -
-
9.78
7.60
-
3.05
110797
625.80
512.50
650
0.00
457
107.70
55.00
100
2011 Div BR (%) (%)
-
-
-
-
-
-
-
-
-
25B325.00
-
-
-
-
52.22
Total Assets (Rs in mn)
821.12
MA (10-day)
1.14
Total Equity (Rs in mn)
(287.78)
MA (100-day)
1.31
Revenue (Rs in mn)
MA (200-day)
1.43
Interest Expense
1st Support
1.16
Loss after Taxation
2nd Support
1.07
EPS 10 (Rs)
0.003
1st Resistance
1.29
Book value / share (Rs)
(9.50)
2nd Resistance
1.33
PE 11 E (x)
Pivot
1.20
PBV (x)
0.00 0.27 (36.23)
(0.12)
KOIL closed up 0.08 at 1.18. Volume was 1,666 per cent above average (trending) and Bollinger Bands were 23 per cent narrower than normal. The company's loss after taxation stood at Rs31.895 million which translates into a Loss Per Share of Rs1.05 for the nine months of fiscal year (9MFY11). KOIL is currently 17.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into KOIL (bullish). Trend forecasting oscillators are currently bearish on KOIL.
Fecto Cement Limited
FOOD PRODUCERS Open 2,370.75 Turnover 228,318 P/E (x) 56.37 Company
Paid up Cap(mn)
Adam Sugar AL-Abbas Sugar AL-Noor Sugar Chashma Sugar Colony Sugar Mills Dewan Sugar Faran Sugar Habib Sugar Hussein Sugar J D W Sugar Mehran Sugar Mirpurkhas Sugar Mirza Sugar National Foods Nestle Pakistan Noon Sugar Quice Food S S Oil Shahmurad Sugar Tandlianwala Wazir Ali
58 174 186 287 990 365 217 750 121 539 173 84 141 414 453 165 107 57 211 1177 80
PE
Open
High
High Low 2,394.18 2,315.13 Total cos Defaulter cos 61 16 P/BV (x) ROE (%) 17.08 30.30 Low
Close Chg
1.07 17.97 18.44 18.00 18.27 0.30 5.14 88.38 91.00 84.65 90.93 2.55 2.24 38.99 40.00 37.05 38.99 0.00 0.71 10.25 10.39 10.00 10.30 0.05 3.22 2.10 2.22 2.01 2.06 -0.04 2.29 2.50 2.25 2.28 -0.01 1.34 18.50 18.50 18.50 18.50 0.00 4.86 26.57 27.89 26.50 27.31 0.74 0.63 10.67 10.40 10.40 10.67 0.00 1.72 86.19 90.49 86.00 86.49 0.30 1.69 56.00 55.99 55.50 55.52 -0.48 3.22 48.28 50.69 46.25 50.11 1.83 0.55 2.44 2.61 2.30 2.43 -0.01 12.61 75.31 73.00 73.00 73.00 -2.31 31.74 4400.01 4449.00 4180.01 4180.25 -219.76 1.56 17.00 17.00 16.25 17.00 0.00 5.00 2.25 2.30 2.20 2.20 -0.05 0.31 4.27 4.30 4.27 4.30 0.03 1.17 9.99 9.80 9.75 9.99 0.00 15.54 53.00 55.50 52.50 55.00 2.00 5.95 5.50 5.30 5.95 0.00
Close 2,340.74 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Change -30.02 Market cap 339,066.21 mn Div Yield (%) 0.54
Last 60 days High Low
900 19.24 12.30 1010 103.49 84.65 220 54.20 37.05 2160 10.90 8.00 2822 3.24 1.51 3700 3.85 2.16 1000 19.50 17.50 85145 28.00 23.00 130 12.56 8.94 21372 90.49 72.75 603 68.48 52.11 2012 53.00 39.51 62200 3.50 2.30 400 88.00 61.70 1106 5675.00 3299.00 241 19.90 14.16 15500 3.50 2.20 6000 5.78 3.80 200 10.79 7.91 21300 60.30 47.09 116 8.62 5.00
2010 Div BR (%) (%)
% Change -1.27 5-Day High 2,381.24 5-Day Low 2,340.74 2011 Div BR (%) (%)
25 50 50 10 25 25 25B -40.49R 7010B 12.5R - 10R 35 20B 15.00 10B 15 20B 10 12 750 10 -
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
41.56
Total Assets (Rs in mn)
MA (10-day)
5.04
Total Equity (Rs in mn)
MA (100-day)
6.61
Revenue (Rs in mn)
MA (200-day)
6.70
Interest Expense
1st Support
4.65
Loss after Taxation
2nd Support
4.25
EPS 10 (Rs)
1st Resistance
5.80
3,122.68 963.90 2,902.68 83.36 (208.26) (4.152)
Book value / share (Rs)
19.22
2nd Resistance
6.55
PE 11 E (x)
4.41
Pivot
5.40
PBV (x)
0.27
FECTC closed down -0.03 at 5.12. Volume was 1,348 per cent above average (trending) and Bollinger Bands were 14 per cent narrower than normal. The company's profit after taxation stood at Rs43.457 million which translates into an Earning Per Share of Rs0.87 for the nine months of fiscal year (9MFY11). FECTC is currently 21.9 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into FECTC (bullish). Trend forecasting oscillators are currently bearish on FECTC.
TRG Pakistan Limited
HOUSEHOLD GOODS Performance of SR Household Goods Index Open 649.78 Turnover 56,159 P/E (x) 1.23 Company
Paid up Cap(mn)
Hussain Industries Pak Elektron Singer Pak Tariq Glass Ind
High Low 671.31 638.60 Total cos Defaulter cos 15 7 P/BV (x) ROE (%) 0.13 10.64
PE
Open
High
Low
106 1219 375 116.69 693 1.44
3.05 6.51 15.50 10.56
3.26 6.95 15.25 10.96
3.26 6.40 14.50 10.73
Close Chg 3.26 6.49 15.17 10.88
0.21 -0.02 -0.33 0.32
Close 649.30 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 500 49953 1000 4706
Change -0.48 Market cap 4,364.81 mn Div Yield (%) 5.09
Last 60 days High Low
2010 Div BR (%) (%)
5.87 8.75 20.35 13.64
17.5
1.82 6.06 13.10 10.25
10B 10B -
% Change -0.07 5-Day High 659.14 5-Day Low 647.24 2011 Div BR (%) (%) - 200R
PERSONAL GOODS Open 964.17 Turnover 6,350,713 P/E (x) 5.93 Company
Paid up Cap(mn)
(Colony) Thal Amtex Limited Artistic Denim Azgard Nine Bannu Woolen XD Bata (Pak) Blessed Tex Mills Chenab Limited Colony Mills Ltd Crescent Jute D M Textile D S Ind Ltd Dawood Lawrencepur Din Textile Fazal Textile Gadoon Textile XD Ghazi Fabrics Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hajra Textile Hamid Textile Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Indus Dyeing Khalid Siraj Kohinoor Ind Kohinoor Mills Kohinoor Textile Maqbool Textile Masood Textile Mukhtar Textile Nishat (Chunian) Nishat Mills Olympia Textile Ravi Textile Rupali Poly Sally Textile Sargoda Spinning Service Ind Service Textile Shahpur Textile Shahtaj Textile Taj Textile Thal Ltd Treet Corp Tri-Star Poly Zil Limited
56 2594 840 4493 76 76 64 1150 2442 238 31 600 591 204 62 234 326 635 146 222 138 133 716 3105 180 181 107 303 509 2455 168 600 145 1621 3516 108 250 341 88 312 120 44 140 97 334 307 418 215 53
High Low 978.93 961.39 Total cos Defaulter cos 211 73 P/BV (x) ROE (%) 0.51 8.64
PE
Open
High
Low
7.85 0.66 7.95 0.87 1.56 0.72 3.07 0.65 0.43 3.05 0.43 0.44 0.75 2.71 1.76 3.33 0.41 3.61 2.18 1.73 3.17 4.57 2.95 0.24 1.46 3.53 0.18 0.28 1.60 6.61 6.39
1.45 2.70 25.50 6.22 15.70 663.30 87.48 1.70 1.50 0.79 3.80 1.04 31.00 38.10 310.00 64.50 4.67 50.11 7.99 10.08 0.50 1.05 3.72 37.90 4.99 343.20 1.45 1.10 1.60 3.00 11.10 18.65 0.58 20.75 51.35 0.62 0.96 39.16 6.20 3.47 197.05 0.70 0.30 28.60 0.20 98.10 52.81 0.55 58.97
1.21 2.76 26.50 6.54 15.82 696.45 91.85 2.01 1.74 0.88 4.10 1.07 31.60 36.25 324.99 66.70 4.80 48.25 7.80 10.97 0.64 1.00 3.89 38.00 5.00 350.35 1.50 1.24 2.10 3.59 12.00 18.65 0.71 21.00 52.15 1.60 0.97 39.65 6.35 3.90 206.90 0.70 0.20 28.55 0.30 100.00 54.00 1.19 59.99
1.01 2.60 24.81 6.25 15.70 670.00 84.00 1.70 1.42 0.43 4.10 0.97 30.41 36.20 294.50 65.00 4.20 48.25 7.00 10.50 0.25 1.00 3.75 37.95 4.55 345.00 1.50 1.11 1.60 2.90 10.10 18.50 0.21 20.57 51.30 0.89 0.92 38.76 6.01 3.50 198.06 0.70 0.20 28.55 0.30 97.80 52.81 0.70 57.50
Close Chg 1.01 2.68 24.81 6.30 15.82 675.42 91.06 1.70 1.50 0.73 4.10 1.02 30.51 36.20 319.82 66.58 4.20 48.25 7.99 10.66 0.50 1.00 3.75 37.95 4.60 348.83 1.50 1.18 1.60 3.14 10.10 18.65 0.58 20.61 51.46 0.62 0.95 39.16 6.14 3.52 206.90 0.70 0.20 28.55 0.30 99.12 52.88 0.55 58.97
-0.44 -0.02 -0.69 0.08 0.12 12.12 3.58 0.00 0.00 -0.06 0.30 -0.02 -0.49 -1.90 9.82 2.08 -0.47 -1.86 0.00 0.58 0.00 -0.05 0.03 0.05 -0.39 5.63 0.05 0.08 0.00 0.14 -1.00 0.00 0.00 -0.14 0.11 0.00 -0.01 0.00 -0.06 0.05 9.85 0.00 -0.10 -0.05 0.10 1.02 0.07 0.00 0.00
Close 968.05 Listed cap 47,070.70 mn Payout (%) 16.68
Volume 6000 65784 1382 5037499 1013 183 47011 17648 9481 618 500 25708 3510 555 215 1800 2000 2500 209 1600 300 500 5501 600 22225 200 3000 265533 9905 4405 2000 2000 325 98062 555679 102 100026 110 2838 1544 7128 500 948 500 20000 18561 2276 150 196
Change 3.88 Market cap 122,396.52 mn Div Yield (%) 2.81
Last 60 days High Low 2.84 3.76 27.10 7.09 19.55 696.45 93.75 2.57 2.64 1.60 4.50 1.39 38.95 39.70 337.99 85.70 8.00 52.50 8.41 12.16 1.49 1.05 4.79 49.00 5.74 398.00 2.24 1.64 2.83 5.25 12.00 20.59 1.39 28.40 63.19 1.66 1.30 42.50 8.94 4.50 206.90 0.89 0.90 29.89 1.01 108.00 59.20 1.58 67.00
1.00 1.81 20.60 4.40 14.70 411.00 56.07 1.55 1.32 0.26 3.50 0.90 30.41 26.35 274.60 64.00 4.00 47.50 6.30 9.52 0.05 1.00 3.60 37.05 3.80 276.70 1.00 0.75 0.71 2.83 8.25 16.70 0.16 20.00 48.80 0.30 0.53 38.05 5.62 2.51 170.00 0.25 0.15 23.55 0.11 97.00 47.95 0.49 55.00
2010 Div BR (%) (%)
% Change 0.40 5-Day High 968.05 5-Day Low 960.59 2011 Div BR (%) (%)
- 30B 20 20 280 50 5 15B 20 10B 100 70 10 12.5 10 10 20B 10 20 10 50 - 50.00 22.5 15 100R 15 25 45R 40 10 5 75 45 80 20B 50 900B 35 -
-
Performance of SR Pharma and Bio Tech Index Open 992.63 Turnover 5,952 P/E (x) 6.29 Company Abbott (Lab) XD Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd
Paid up Cap(mn) 979 250 2019 182 200
High Low 1,004.39 988.91 Total cos Defaulter cos 9 P/BV (x) ROE (%) 1.40 22.31
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
33.40
Total Assets (Rs in mn)
1,072.73
MA (10-day)
2.49
Total Equity (Rs in mn)
1,015.70
MA (100-day)
2.75
Revenue (Rs in mn)
MA (200-day)
3.21
Interest Expense
1st Support
2.25
Loss after Taxation
2nd Support
2.15
EPS 10 (Rs)
1st Resistance
Performance of SR Personal Goods Index
% Change 0.44 5-Day High 1,798.57 5-Day Low 1,778.76
2010 Div BR (%) (%)
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
Performance of SR Food Producers Index
PHARMA AND BIO TECH
Change 7.91 Market cap 35,432.37 mn Div Yield (%) 15.33
Ados Pak
Change 13.84 Market cap 12,407.97 mn Div Yield (%) 2.14
Volume
Open
Performance of SR Industrial Engineering Index Open 1,782.41 Turnover 117,649 P/E (x) 8.58
1.79 -0.11
PE
CONSTRUCTION AND MATERIALS High Low 895.16 866.44 Total cos Defaulter cos 37 6 P/BV (x) ROE (%) 0.49 7.10
81.77 24.45
Agriautos Ind 144 4.24 Atlas Battery 101 6.29 Atlas Engineering Ltd 247 19.88 Atlas Honda 719 7.74 Baluchistan Wheels Ltd. 133 1.35 Dewan Motors 1087 Exide (PAK)XDXB 71 3.40 Ghani Automobile Ind 200 6.60 Honda Atlas Cars 1428 Indus Motors 786 7.12 Pak Suzuki 823 14.42
Performance of SR Construction and Materials Index Open 871.23 Turnover 6,541,811 P/E (x) 6.90
Close Chg
Close 767.95 Listed cap 3,242.17 mn Payout (%) 11.08
AUTOMOBILE AND PARTS
INDUSTRIAL METALS AND MINING High Low 1,051.96 1,029.47 Total cos Defaulter cos 7 1 P/BV (x) ROE (%) 0.90 33.10
High Low 770.25 752.97 Total cos Defaulter cos 4 2 P/BV (x) ROE (%) 1.32 25.53
7.52 7.17
Performance of SR Industrial Metals and Mining Index Open 1,031.01 Turnover 385,880 P/E (x) 2.72
21,732.03 21,844.07 21,683.27 h48.76
Performance of SR Automobile and Parts Index
Company
CHEMICALS
Paid up Cap(mn)
Current High Low Change
11,917.40 11,978.27 11,884.09 h33.31
Alert ! Unusual Movements
Performance of SR Industrial Transportation Index
Close Change 1,584.09 6.09 Listed cap Market cap 65,194.15 mn 1,159,239.53 mn Payout (%) Div Yield (%) 55.94 5.16
Performance of SR Chemicals Index Open 1,906.78 Turnover 14,877,093 P/E (x) 9.01
Current High Low Change
KMI 30 Index
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,578.00 Turnover 5,156,501 P/E (x) 10.84
KSE 30 Index
Close 993.60 Listed cap 3,904.20 mn Payout (%) 44.54
Change 0.97 Market cap 32,601.02 mn Div Yield (%) 7.08
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5.89 7.81 10.71 6.75 4.10
96.10 93.17 75.00 29.15 10.20
97.00 95.48 76.18 30.25 10.25
95.01 94.00 74.71 29.15 10.00
96.10 0.00 94.30 1.13 75.00 0.00 29.15 0.00 10.00 -0.20
131 730 2270 210 2501
97.00 98.73 79.99 33.45 11.50
87.26 88.21 71.00 24.51 9.00
2010 Div BR (%) (%) 50 40 25 -
% Change 0.10 5-Day High 995.33 5-Day Low 992.63 2011 Div BR (%) (%)
20B 12.50 15B 10B -
-
2.60
0.72 0.07 (1,616.83) (4.195)
Book value / share (Rs)
2nd Resistance
2.85
PE 11 E (x)
Pivot
2.50
PBV (x)
2.64 0.92
TRG closed unchanged at 2.42. Volume was 149 per cent above average and Bollinger Bands were 33 per cent narrower than normal. The company's loss after taxation stood at Rs47.542 million which translates into a Loss Per Share of Rs0.12 for the nine months of fiscal year (9MFY11). TRG is currently 24.6 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of TRG (mildly bearish). Trend forecasting oscillators are currently bearish on TRG.
Ravi Textile Mills Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
47.54
Total Assets (Rs in mn)
MA (10-day)
0.98
Total Equity (Rs in mn)
MA (100-day)
1.00
Revenue (Rs in mn)
MA (200-day)
1.25
Interest Expense
1st Support
0.93
Loss after Taxation
(36.14)
2nd Support
0.90
EPS 10 (Rs)
(1.446)
1st Resistance
0.98
Book value / share (Rs)
2nd Resistance
1.00
PE 11 E (x)
Pivot
0.95
PBV (x)
404.42 44.04 432.37 12.64
1.76 0.54
RAVT closed down -0.01 at 0.95. Volume was 252 per cent above average (trending) and Bollinger Bands were 38 per cent wider than normal. The company's loss after taxation stood at Rs37.191 million which translates into a Loss Per Share of Rs1.49 for the nine months of fiscal year (9MFY11). RAVT is currently 24.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of RAVT (mildly bearish). Trend forecasting oscillators are currently bearish on RAVT.
BOOK CLOSURES Company
From
To
Service Industries # Gulshan Spinning Mills # Paramount Spinning Mills # Gulistan Spinning Mills # (TFC) Bank Al Habib Singer Pak # (TFC) Engro Corporation Pak Int Cont Term Ruby Textile Mills Al-Meezan Mutual Fund (TFC) United Bank Silkbank Limited # KASB Bank Trust Investment Bank # General Tyre & Rubber # Nishat Power # Fauji Fertilizer Hussein Industries
23-Jul 24-Jul 24-Jul 24-Jul 25-Jul 25-Jul 25-Jul 27-Jul 29-Jul 29-Jul 31-Jul 03-Aug 03-Aug 05-Aug 07-Aug 08-Aug 29-Aug 28-Oct
30-Jul 01-Aug 01-Aug 01-Aug 06-Aug 04-Aug 31-Jul 03-Aug 04-Aug 04-Aug 13-Aug 10-Aug 06-Aug 12-Aug 18-Aug 22-Aug 04-Sep 03-Nov
D/B/R 50(S.D) 33.20(R) 105.16(R) -
Spot AGM/Date 19-Jul 21-Jul -
30-Jul 01-Aug 01-Aug 01-Aug 04-Aug 03-Aug 10-Aug 12-Aug 18-Aug 22-Aug -
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shakarganj Food Shezan International Grays of Cambridge P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone
Open 47.25 2.42 111 4.5 141.99 35.28 2.17 35.7 2.1 20.79 3.15
High 46 2.75 112 4.45 142.92 37.04 2.25 37.4 2.19 21.04 3.15
Low Close 45.51 2.4 106.5 4.45 139.01 35.5 2.15 34.11 2.01 20.61 3.15
46 2.42 111 4.45 139.01 35.14 2.17 35.68 2.1 20.69 3.15
Change -1.25 0 0 -0.05 -2.98 -0.14 0 -0.02 0 -0.1 0
Vol 551 1582697 116 500 834 691 84582 3309 158247 99441 200
6
Saturday, July 23, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 834.01 Turnover 1,384,070 P/E (x) 4.10 Paid up Cap(mn)
Company Pak.Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
PE
Open
High
37740 10.51 3000 2.41 8606 6175 -
12.98 1.43 1.80 1.96
13.00 1.48 1.92 2.14
High Low 839.66 823.12 Total cos Defaulter cos 5 P/BV (x) ROE (%) 0.53 12.84 Low
Close Chg
12.80 1.40 1.80 1.90
12.82 -0.16 1.42 -0.01 1.81 0.01 1.92 -0.04
Close 824.94 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 955473 109901 318696 165472
443
3.64
28.97
29.40
28.95
29.24 0.27
1022
29.60
26.00
40
20B
-
-
Central Insurance
391
1.31
59.21
62.17
59.51
60.00 0.79
1764
75.37
58.61
25
50B
-
-
1250 12.91
34.61
34.98
34.06
34.61 0.00
252
39.65
29.01
12.5
-
-
-
-
-
55B 10.00
-
EFU General Insurance
Change -9.07 Market cap 51,787.09 mn Div Yield (%) 15.27
Last 60 days High Low
2010 Div BR (%) (%)
17.70 1.94 2.50 2.97
17.5 1 -
12.65 1.31 1.75 1.90
Atlas Insurance
% Change -1.09 5-Day High 839.07 5-Day Low 824.94
Habib Insurance
450
7.64
11.00
11.05
11.00
11.00 0.00
15173
11.90
10.10
25 12.5B
IGI Insurance
970
5.85
71.50
72.00
70.05
70.68 -0.82
4421
76.12
67.00
30
3000
5.37
15.56
15.82
15.40
15.46 -0.10
279521
18.30
12.43
30
Premier Insurance
303
3.68
8.00
8.34
7.90
8.25 0.25
9050
8.99
7.90
25
Reliance Insurance
284
5.12
8.25
8.40
8.30
8.40 0.15
2608
8.40
6.00
2011 Div BR (%) (%)
United Insurance
496
1.77
5.25
5.10
5.10
5.10 -0.15
200
7.09
4.23
-
-
-
Pak Reinsurance
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Southern Electric Tri-star Power XD
198 11572 1560 7932 126 8803 3673 3541 1367 150
Close 1,375.68 Listed cap 95,369.29 mn Payout (%) 104.13
Change 5.37 Market cap 112,561.39 mn Div Yield (%) 7.76
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.84 2.33 5.52 2.60 2.30 -
0.55 38.84 1.10 2.17 3.00 42.80 14.36 16.18 1.25 0.79
0.73 39.25 1.35 2.25 3.15 43.00 14.55 16.45 1.39 0.95
0.50 39.00 1.10 2.11 2.50 42.60 14.15 16.01 1.23 0.90
0.51 -0.04 39.06 0.22 1.12 0.02 2.13 -0.04 3.00 0.00 43.00 0.20 14.46 0.10 16.15 -0.03 1.25 0.00 0.90 0.11
18604 709949 52424 497431 251 107227 242870 393924 18101 1050
0.80 39.45 1.70 2.57 3.95 44.19 17.25 17.70 1.69 1.27
0.16 36.70 0.97 2.03 2.11 41.75 13.47 15.39 1.13 0.36
% Change 0.39 5-Day High 1,375.68 5-Day Low 1,353.95
2010 Div BR (%) (%) 50 50 -
Open 909.87 Turnover 2,343 P/E (x) 5.26
-
GAS WATER AND MULTIUTILITIES Open 1,270.91 Turnover 500,715 P/E (x) 8.17 Paid up Cap(mn)
Company Sui North Gas Sui South Gas
High Low 1,282.95 1,258.79 Total cos Defaulter cos 2 P/BV (x) ROE (%) 0.93 11.41
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
5491 14.26 8390 4.57
19.99 20.10
20.17 20.30
19.70 20.01
19.96 -0.03 20.24 0.14
97815 402900
23.60 23.75
Paid up Cap(mn)
Company
8603 7070 13492 8786 5004 5288 5280 7327 11021 Habib Metropolitan Bank XB10478 JS Bank Ltd 8150 KASB Bank Ltd 9509 MCB Bank Ltd 8362 Meezan Bank XB 8030 National Bank 16818 Network Mic Bank 300 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
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
Open
6.26 63.15 5.35 11.81 5.64 10.83 6.15 28.83 1.88 4.26 6.75 10.27 3.93 4.80 10.50 7.62 120.08 5.58 19.15 42.60 2.16 1.45 7.98 197.25 6.23 17.75 4.31 54.69 3.00 1.43 21.13 1.70 15.25 2.44 2.52 5.04 6.42 8.06 3.52 7.20 60.79
High
Low
Close Chg
64.69 63.00 63.50 0.35 12.07 11.73 11.76 -0.05 10.96 10.69 10.71 -0.12 29.24 28.95 29.04 0.21 4.69 4.20 4.20 -0.06 6.88 6.71 6.73 -0.02 4.05 3.80 3.80 -0.13 10.73 10.25 10.37 -0.13 122.68 120.00 121.98 1.90 19.47 19.10 19.41 0.26 2.34 2.13 2.13 -0.03 1.49 1.42 1.47 0.02 200.00 197.00 197.40 0.15 18.30 17.80 18.20 0.45 55.80 54.65 54.82 0.13 3.20 3.20 3.20 0.20 1.47 1.41 1.43 0.00 1.79 1.69 1.69 -0.01 2.55 2.41 2.44 0.00 5.09 5.02 5.04 0.00 8.10 7.90 7.96 -0.10 3.58 3.25 3.40 -0.12 61.80 60.70 61.28 0.49
Volume
Last 60 days High Low
164843 68.99 249768 12.35 1210884 11.02 217652 29.98 56213 6.25 863996 7.35 30622 4.09 85981 10.73 342415 123.90 19165 22.45 133095 3.00 28718 1.77 981401 210.95 52487 19.49 4018532 55.80 1000 3.50 735616 1.99 304003 2.18 162476 3.06 39033 6.69 2400 9.20 112816 4.75 1225204 65.01
60.00 10.79 9.42 28.25 4.20 4.51 3.25 9.00 114.10 17.00 2.06 1.16 190.99 16.60 49.51 1.65 1.41 1.62 2.34 4.91 7.53 2.67 60.22
2010 Div BR (%) (%)
NON LIFE INSURANCE Open 720.58 Turnover 369,323 P/E (x) 8.88 Paid up Cap(mn)
Company
Adamjee Insurance XD
1237
PE 6.70
Low
Close Chg
Volume
Last 60 days High Low
68.15
68.00 -0.04
1342
73.25
50.70
50
-
-
-
New Jub Life Insurance
627 14.52
54.50
Open 62.69
High 63.19
High Low 728.34 714.83 Total cos Defaulter cos 34 22 P/BV (x) ROE (%) 0.46 5.20 Low 62.25
Close Chg 62.49 -0.20
Close 719.20 Listed cap 11,111.34 mn Payout (%) 79.54
54.10
54.00
54.00 -0.50
1000
58.99
48.00
15
-
-
-
Volume 55242
Last 60 days High Low 69.90
62.00
% Change -0.19 5-Day High 724.20 5-Day Low 719.20
2010 Div BR (%) (%) 25
2011 Div BR (%) (%)
-
-
-
2011 Div BR (%) (%)
Performance of SR Financial Services Index Open 288.53 Turnover 3,744,379 P/E (x) 11.48 Company
High Low 300.53 284.62 Total cos Defaulter cos 41 6 P/BV (x) ROE (%) 0.19 0.91
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
225
0.90
0.40
0.49
0.31
0.43 0.03
360
4.99
3750
Dawood Equities
Invest Bank
20.20
12.01
-
20B
-
-
29.24
20.53
30
-
-
-
-
1.20
1.65
1.20
1.20 0.00
1.80
1.01
-
-
-
-
Ist Cap Securities
38013 12512
6.10
4.26
-
-
-
20B
47272 5048174
-
-
-
-
7.00
1.32
1.50
1.05
1.33 0.01
33993
1.99
1.05
-
-
-
600 19.46
7.16
7.68
7.20
7.20 0.04
53985
9.29
7.05
11.5
-
-
-
0.36
0.49
0.33
0.35 -0.01
8636
1.20
0.22
-
-
-
-
-
10B
2849
Ist Dawood Bank
-
-
18.94 -0.03 28.51 0.30 5.01 0.01
18.90
2011 Div BR (%) (%)
-
18.53
5.01
23.49
-
28.15
5.20
1551
2010 Div BR (%) (%)
0.26
19.33
5.00
19.55 -0.28
0.64
29.24
-
18.90
Last 60 days High Low
12279
% Change -0.09 5-Day High 288.61 5-Day Low 284.98
18.97
250 2121
19.80
Volume
Change -0.27 Market cap 14,119.40 mn Div Yield (%) 4.86
28.21
First Credit & Invest Bank Ltd 650
IGI Investment Bank Invest and Fin Sec
19.83
Close 288.26 Listed cap 30,336.44 mn Payout (%) 99.56
3.82
450 19.94
Arif Habib Corp
-
3166
-
626
0.65
2.60 1.55
2.70
2.32
1.64
2.46 -0.14
1.45
1.45 -0.10
11959
3.27
501
2.22
1.96
-
-
15.10 145.01 233.71 62.65 1.47 7.90 17.75 31.85 0.22 0.11 51.00 11.90 5.31 93.80 2730.21 1.30 1.96 736.00 7.00 49.93 3.50 61.37 16.50 0.75 1.22 8.10 41.55 8.94 15.60 5.30 1.91 232.88 7.50 11.28 67.41 1.51 10.50 17.70 3.50 32.50 1.00 36.13 111.27 3.53 8.75 19.98 1.00 19.11 1089.92 5835.95 0.80 1.82 1.50 1.78 1.25 1.50 13.93 2.40 1.70
1.30
-
Jah Siddiq Co
7633
-
7.45
7.72
7.48
7.50 0.05
3351558
8.34
4.82
10
-
-
-
508
-
2.57
2.70
2.55
2.60 0.03
37033
3.40
2.31
-
-
-
-
500
5.49
20.00
20.00
19.10
19.10 -0.90
4216
22.94
16.42
50
-
-
-
1000 42.92
5.16
5.35
5.06
5.15 -0.01
6.43
4.10
-
-
-
-
Symbols
Open
FFBL-JUL
47.07
103467
-
-
Open
JOV and CO
High 15.75 143.00 233.70 63.00 1.60 8.40 18.14 32.00 0.32 0.20 51.00 12.25 6.25 97.00 2866.00 1.70 2.45 765.00 7.25 48.23 3.33 60.00 15.50 1.30 1.80 8.25 39.50 7.95 15.00 5.00 1.80 225.00 7.35 10.28 64.51 0.69 10.51 17.00 3.85 33.90 1.42 37.50 105.97 3.80 9.20 20.45 1.15 20.10 1120.00 5898.00 0.70 1.80 1.89 2.24 1.59 1.65 13.01 2.75 1.90
Low
Close
15.75 143.00 233.00 63.00 1.40 7.76 17.75 32.00 0.25 0.20 48.48 12.21 5.71 93.80 2700.00 1.40 1.80 740.00 7.25 48.05 2.77 60.00 15.50 0.81 1.23 8.24 39.50 7.95 15.00 5.00 1.80 225.00 7.35 10.28 64.50 0.69 10.51 17.00 3.75 33.90 1.42 37.50 105.97 3.30 8.90 19.00 0.68 20.10 1120.00 5761.00 0.52 1.80 1.89 2.24 1.59 1.65 13.01 2.75 1.90
15.10 145.01 233.71 62.65 1.47 7.90 17.75 31.85 0.22 0.11 51.00 11.90 5.31 93.80 2853.25 1.30 1.96 736.00 7.00 49.93 3.50 61.37 16.50 0.75 1.22 8.10 41.55 8.94 15.60 5.30 1.91 232.88 7.50 11.28 67.41 1.51 10.50 17.70 3.50 32.50 1.00 36.13 111.27 3.53 8.75 19.98 1.00 19.11 1089.92 5848.98 0.80 1.82 1.50 1.78 1.25 1.50 13.93 2.40 1.70
Change
Vol
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 123.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
100 100 90 90 71 68 54 49 47 47 45 45 39 37 34 21 17 17 17 16 15 15 15 11 11 11 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 9 8 8 7 5 5 5 5 4 3 2 2 2 2 2 2 1
FUTURE CONTRACTS High
Low
Close
Change
Vol
48.09
46.90
47.61
0.54
Orix Leasing
821
3.52
5.75
6.00
5.50
5.80 0.05
25111
6.45
5.25
-
-
-
-
ATRL-JUL
132.64
135.00
131.76
132.28
-0.36
449500
Pervez Ahmed Sec
775
5.04
1.45
1.57
1.40
1.41 -0.04
12636
1.99
1.32
-
-
-
-
NBP-JUL
54.63
55.90
54.90
54.98
0.35
433500
0.31
1.22
1.50
1.21
1.25 0.03
2127
2.29
0.83
-
-
-
-
FFC-JUL
165.12
165.95
163.90
164.40
Trust Inv Bank
586
Open 1,570.80 Turnover 558,992 P/E (x) 21.14 Paid up Cap(mn)
Company
PE
AL-Meezan Mutual F.SPOT 1375
Close Chg
10.15
18.5
6.89
6.90
6.65
6.90 0.01
50500
6.95
6.11
2.2
-
-
-
2.70
2.85
2.53
2.53 -0.17
4412
2.91
1.41
0
-
-
-
Crescent St Modaraba
200
3.93
0.42
0.55
0.42
0.55 0.13
513
0.89
0.30
1.2
-
-
-
Elite Cap Modaraba
113
4.24
3.05
3.22
3.22
3.05 0.00
155
3.79
2.10
5
-
-
-
Golden Arrow
760
2.25
3.40
3.60
3.40
3.40 0.00
27067
3.72
3.11
17
-
-
-
8.00 0.00
11.60
3500
8.44
7.10
11
-
2011 Div BR (%) (%)
1.84
8.00
67087
2010 Div BR (%) (%)
2.64
8.20
11.30 -0.08
Last 60 days High Low
% Change -0.71 5-Day High 1,570.80 5-Day Low 1,548.23
525
8.00
11.30
Volume
Change -11.21 Market cap 19,761.48 mn Div Yield (%) 7.70
780
3.92
11.60
Low
5.00
-
-
-
-
Habib Modaraba
1008
4.22
8.18
8.44
8.10
8.15 -0.03
7000
8.44
7.26
21
-
-
-
JS Growth Fund
3180
2.06
6.02
6.10
6.00
6.00 -0.02
22363
7.40
5.32
12.5
-
-
-
1186
0.55
5.27
5.25
5.08
5.25 -0.02
3525
6.42
4.91
10
-
5.00
-
283
2.26
2.89
3.50
3.50
3.50 0.61
500
4.48
2.01
2.8
-
-
1200
2.87
9.83
10.24
9.90
9.99 0.16
5901
10.24
8.46
15.5
-
-
-
184 15.00
0.90
1.05
1.00
1.05 0.15
12490
1.40
0.85
-
-
-
-
-
JS Value Fund
Mod Al-Mali Pak Modaraba
1.14
1.40
0.85
1.50
244500
1.60
229500
24.12
23.70
23.79
0.15
217500
387.00
383.20
383.92
0.85
151000
ENGRO-JUL 152.47
153.65
151.82
152.07
-0.40
118500
PPL-JULB
215.99
218.00
215.15
215.71
MCB-JUL
197.98
200.50
197.60
198.08
0.10
57500
NML-JUL
51.72
52.25
51.37
51.47
-0.25
31500
PTC-JUL
12.96
12.95
12.85
12.85
-0.11
30500
POL-JUL
Atlas Fund of Funds
397
11.38
High
Close 1,559.59 Listed cap 29,771.58 mn Payout (%) 104.74
-0.72
74.79
23.64
DGKC-JUL
B R R Guardian Mod.
H B L Modaraba
4.85
Open
High Low 1,586.66 1,552.55 Total cos Defaulter cos 52 11 P/BV (x) ROE (%) 0.47 2.21
-
125
-
0.85 -0.29
550
0.25
3
-
-
PICIC Energy Fund
1000
2.14
7.38
7.40
7.15
7.24 -0.14
181601
8.25
6.92
10
- 10.00
-
PICIC Growth Fund
2835
2.75
13.32
13.49
13.25
13.39 0.07
139465
13.84
12.00
20
- 12.50
-
PICIC Inv Fund
2841
2.41
6.19
6.15
6.05
6.09 -0.10
20434
6.95
5.50
10
-
7.50
Safeway Mutual Fund
545
2.81
7.67
7.65
7.65
7.67 0.00
206
8.65
5.75
18.2
-
-
-
U D L Modaraba
264
2.28
6.84
6.99
6.66
6.66 -0.18
600
7.49
6.31
12.5
-
7.50
-
UNICAP Modaraba
136
-
0.50
0.65
0.50
0.50 0.00
11000
1.50
0.13
-
-
-
-
-
867000
383.07
LUCK-JUL
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index
Meezan Balanced Fund
Change -1.38 Market cap 44,842.31 mn Div Yield (%) 8.96
2010 Div BR (%) (%)
FINANCIAL SERVICES
KASB Modaraba
Performance of SR Non Life Insurance Index
% Change -0.31 5-Day High 918.99 5-Day Low 906.02
High
2011 Div BR (%) (%)
40 10B - 10B 20 20B -64.41R - 20B 65 10B - 20B - 33R -105.16R 115 10B 30.00 - 15B 75 25B -154.79R -63.46R - 311R 6 - 20R 50 -
Change -2.83 Market cap 10,056.03 mn Div Yield (%) 3.94
69.99
JS Global Cap
% Change 0.29 5-Day High 1,137.03 5-Day Low 1,124.57
Close 907.04 Listed cap 2,290.72 mn Payout (%) 355.53
68.04
JS Investment
Change 3.26 Market cap 674,676.15 mn Div Yield (%) 5.54
High Low 925.26 909.21 Total cos Defaulter cos 4 P/BV (x) ROE (%) 3.48 3.85
Open
BANKS High Low Close 1,153.50 1,130.87 1,137.03 Total cos Defaulter cos Listed cap 27 - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.02 13.94 40.49
-
PE
Performance of SR Banks Index Open 1,133.77 Turnover 10,925,504 P/E (x) 7.30
Allied Bank Limited Askari Bank XB Bank Alfalah Bank AL-Habib Bank Of Khyber Bank Of Punjab BankIslami Pak Faysal Bank Habib Bank Ltd
17.64 19.95
% Change 0.27 5-Day High 1,280.01 5-Day Low 1,268.41
-
-
9.55
Arif Habib Limited
Change 3.43 Market cap 27,940.85 mn Div Yield (%) 8.18
-
-
850
Arif Habib Investments
Close 1,274.34 Listed cap 12,202.80 mn Payout (%) 66.79
-
24B
Paid up Cap(mn)
AMZ Ventures
Performance of SR Gas Water and Multiutilities Index
-
- 12.5B
EFU Life Assurance
Company
2011 Div BR (%) (%)
- 25.00 7.8R - 30.00 - 10.00 -
-
Performance of SR Life Insurance Index
-
Performance of SR Electricity Index High Low 1,386.66 1,369.90 Total cos Defaulter cos 15 1 P/BV (x) ROE (%) 1.25 9.35
-
LIFE INSURANCE
ELECTRICITY Open 1,370.31 Turnover 2,041,885 P/E (x) 13.41
-
UPTO 100 VOLUME Symbols NAGC SAPL AGTL FIMM CWSM CENI KOHE KSBP BROT DATM BIFO SANSM SGML PAKT RMPL DCM AZAMT COLG SASML BCL DSML JVDC MDTL BILF DNCC SAIF BAFS BAWS BCML BFMOD BGL BHAT BUXL BWCL CLOV CPAL CSMD DADX DMTM OTSU TSMF WAHN HINO KASBSL PPVC PSYL FPJM PGCL SIEM ULEVER MFTM DFSM FCONM FDMF FEM FFLM JDMT SCLL EWLA
HUBC-JUL UBL-JUL
73.19
75.62
73.20
-0.28
66500
38.90
38.90
38.90
38.90
0.00
20000
60.50
62.00
61.50
61.50
1.00
9000
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 737,843 17,699 444,283 219,850 34,500 894,750 698,695 113,360 320,375 99,300 7,000 49,375 2,589,451 558,000 41,096 972,118 346,081 10,000 274,260 500 300,776 157,100 35,175 20,750 30,156 2,250 127,500 9,102,243
Total Value 14,419,507 843,583 3,685,875 965,325 3,266,378 6,736,799 12,125,221 12,948,763 11,094,882 12,239,258 202,503 1,595,951 24,618,550 30,786,117 6,088,680 38,447,702 5,453,245 156,227 10,268,163 57,296 3,538,893 44,976,074 5,644,012 4,079,882 294,306 34,035 5,829,479 260,396,704
MTS Rate 20.02 20.77 16.84 18.00 16.18 15.00 17.88 17.84 16.05 18.00 21.02 21.28 15.17 16.00 17.00 16.00 17.07
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
57.35
Support 1
12,449.30
MA (5-day)
12,429.30
Support 2
12,421.85
MA (10-day)
12,350.65
Resistance 1
12,523.70
MA (100-day)
12,071.40
Resistance 2
12,570.65
Arif Habib Ltd
Target Price
Recommendations
42.2
Sell
Arif Habib Ltd
Neutral
AKD Securities Ltd
AKD Securities Ltd
45.52
TFD Research
47.75
Neutral
Leverage Position
RSI (14-day) 76.76 MTS Shares `000 320.375 MA (200-day) 11,805.72 Pivot 12,496.25 MA (10-day) 46.22 MTS Rs `000 11,094.88 42.35 MTS Rate 16.18 KSE 100 INDEX closed up 2.00 points at 12,476.77. Volume was 12 MA (100-day) MA (200-day) 39.28 ** NOI Rs (mn) 326.94 per cent above average and Bollinger Bands were 24 per cent narFree Float Rs (mn)15,536.12 Free Float Shares (mn) 326.94 rower than normal. As far as resistance level is concern, the market Target price for Dec-11 & **Net Open Interest in future market will see major 1st resistance level at 12,523.70 and 2nd resistance FFBL closed up 0.54 at 47.52. Volume was 153 per cent above average level at 12,570.65, while Index will continue to find its 1st support (trending) and Bollinger Bands were 118 per cent wider than normal. level at 12,449.30 and 2nd support level at 12,421.85. KSE 100 INDEX is currently 5.7 per cent above its 200-day moving FFBL is currently 20.9 per cent above its 200-day moving average and is average and is displaying a downward trend. Volatility is extremely displaying an upward trend. Volatility is low as compared to the average low when compared to the average volatility over the last 10 trading volatility over the last 10 trading sessions. Volume indicators reflect modsessions. Volume indicators reflect moderate flows of volume into erate flows of volume into FFBL (mildly bullish). Trend forecasting oscillaINDEX (mildly bullish). Trend forecasting oscillators are currently tors are currently bullish on FFBL. Momentum oscillator is currently indicatbearish on INDEX. ing that FFBL is currently in an overbought condition.
Brokerage House
Target Price
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
Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
65.98 MTS Shares `000 558.00 72.37 MTS Rs `000 30,786.12 70.30 MTS Rate 17.84 71.54 ** NOI Rs (mn) 129.35 Free Float Rs (mn) 9,645.63 Free Float Shares (mn) 129.35 Target price for Dec-11 & **Net Open Interest in future market
Target Price
Arif Habib Ltd
165.3
TFD Research
164.95
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
62.05 53.45 56.29 63.73 Free Float Rs (mn) 21,825.07
Leverage Position MTS Shares `000 972.118 MTS Rs `000 38,447.70 MTS Rate 18.00 ** NOI Rs (mn) 398.12 Free Float Shares (mn) 398.12
Target price for Dec-11 & **Net Open Interest in future market
Recommendations Buy
Technical Analysis
and Bollinger Bands were 46 per cent narrower than normal.
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
62.98 MTS Shares `000 99.30 161.42 MTS Rs `000 12,239.26 142.66 MTS Rate 15.00 133.55 ** NOI Rs (mn) 466.49 Free Float Rs (mn) 76,457.28 Free Float Shares (mn) 466.49 Target price for Dec-11 & **Net Open Interest in future market
age and Bollinger Bands were 81 per cent wider than normal.
NBP is currently 14.0 per cent below its 200-day moving average and is FFC is currently 22.7 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NBP (mildly bullish). Trend forecast- reflect volume flowing into and out of FFC at a relatively equal pace. Trend ing oscillators are currently bullish on NBP.
forecasting oscillators are currently bullish on FFC.
United Bank Ltd.
Pakistan Petroleum Ltd
Recommendations
29
Buy
Arif Habib Ltd
254.9
Buy
TFD Research
239.15
Brokerage House
Target Price
Recommendations
Brokerage House
Buy
Arif Habib Ltd
Positive
AKD Securities Ltd
Target Price 69 67.5
Recommendations Hold Accumulate
Positive
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
57.64 MTS Shares `000 698.695 23.11 MTS Rs `000 12,125.22 23.67 MTS Rate 16.84 25.98 ** NOI Rs (mn) 200.80 Free Float Rs (mn) 4,761.08 Free Float Shares (mn) 200.80 Target price for Dec-11 & **Net Open Interest in future market
Technical Outlook
Technical Outlook Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
60.39 MTS Shares `000 35.175 210.45 MTS Rs `000 5,644.01 209.69 MTS Rate 16.00 206.92 ** NOI Rs (mn) 247.73 Free Float Rs (mn) 53,284.51 Free Float Shares (mn) 247.73 Target price for Dec-11 & **Net Open Interest in future market
Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
44.41 MTS Shares `000 127.50 61.01 MTS Rs `000 5,829.48 62.85 MTS Rate 16.00 62.36 ** NOI Rs (mn) 306.04 Free Float Rs (mn) 18,754.43 Free Float Shares (mn) 306.04 Target price for Dec-11 & **Net Open Interest in future market
LUCK closed up 1.69 at 74.57. Volume was 224 per cent above average DGKC closed up 0.15 at 23.71. Volume was 1 per cent below average and PPL closed down -0.13 at 215.09. Volume was 71 per cent above average UBL closed up 0.49 at 61.28. Volume was 306 per cent above average (trending) and Bollinger Bands were 32 per cent narrower than normal.
Bollinger Bands were 45 per cent narrower than normal.
and Bollinger Bands were 13 per cent narrower than normal.
(trending) and Bollinger Bands were 40 per cent narrower than normal.
LUCK is currently 4.2 per cent above its 200-day moving average and is DGKC is currently 8.7 per cent below its 200-day moving average and is PPL is currently 3.9 per cent above its 200-day moving average and is dis- UBL is currently 1.7 per cent below its 200-day moving average and is disdisplaying an upward trend. Volatility is relatively normal as compared to displaying a downward trend. Volatility is extremely low when compared to playing an upward trend. Volatility is relatively normal as compared to the playing a downward trend. Volatility is low as compared to the average the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume reflect very strong flows of volume into LUCK (bullish). Trend forecasting reflect moderate flows of volume into DGKC (mildly bullish). Trend fore- reflect volume flowing into and out of PPL at a relatively equal pace. Trend flowing into and out of UBL at a relatively equal pace. Trend forecasting oscillators are currently bullish on LUCK.
casting oscillators are currently bearish on DGKC.
forecasting oscillators are currently bullish on PPL.
oscillators are currently bearish on UBL.
Date
Time
Wyeth Pak Ltd Sanghar Sugar Mills Ltd Fecto Sugar Mills Ltd Adam Sugar Mills Ltd Dewan Sugar Mills Ltd Bawany Sugar Mills Ltd Ansari Sugar Mills Ltd MCB Bank Ltd Askari Bank Ltd Hinopak Motors Ltd Fauji Fertilizer Bin Qasim Ltd Chashma Sugar Mills Ltd Premier Sugar Mills Kohinoor Sugar Mills Ltd First Habib Modaraba Mirpurkhas Sugar Mills Ltd Faran Sugar Mills Ltd Honda Atlas Cars Habib Sugar Mills Ltd Security Papers Ltd
25-Jul 25-Jul 25-Jul 25-Jul 25-Jul 25-Jul 25-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 26-Jul 27-Jul 27-Jul
11:00 11:00 11:00 12:00 4:00 4:00 6:00 9:00 11:00 12:00 10:30 11:00 11:30 11:30 11:30 3:30 3:30 11:00 12:00 12:00
Neutral
Technical Outlook
NBP closed up 0.13 at 54.82. Volume was 122 per cent above average FFC closed down -0.64 at 163.90. Volume was 121 per cent above aver-
28.72
Technical Analysis
Brokerage House
Buy Buy
Target Price
30.6
Recommendations
65 64.99
Technical Analysis
Technical Outlook
Technical Outlook
Target Price
Technical Outlook
Dera Ghazi Khan Cement Co Ltd
Lucky Cement Ltd
Arif Habib Ltd
Brokerage House
Technical Outlook Technical Analysis
Fauji Fertiliser Co
National Bank of Pakistan
Company
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 41.42 2.35 2.30 48.90 62.75 62.05 44.21 48.55 48.10 73.29 28.00 27.55 59.85 18.55 18.15 28.36 62.10 61.70 57.83 11.65 11.50 60.47 6.20 6.05 48.22 378.00 376.50 58.14 130.65 129.35 64.62 10.60 10.50 51.78 3.70 3.65 55.74 6.65 6.60 48.67 1.65 1.60 57.56 23.55 23.35 33.33 2.35 2.25 48.16 2.25 2.20 43.93 34.10 33.65 45.68 67.45 66.85 27.39 150.80 150.05 70.22 10.15 9.95 46.00 4.10 4.05 76.71 46.95 46.40 62.97 162.95 161.95 66.96 120.40 118.85 60.83 38.95 38.85 57.95 156.40 155.75 30.95 205.35 204.65 44.34 2.55 2.45 43.86 1.05 0.95 33.47 2.05 2.00 44.21 7.40 7.35 56.36 42.75 42.45 44.42 2.05 2.00 35.16 12.65 12.55 65.93 73.20 71.85 41.01 196.25 195.15 43.25 2.00 1.95 61.98 54.40 53.95 26.13 20.45 20.30 41.89 20.50 20.35 30.29 1.40 1.35 59.56 3.05 3.00 43.81 51.15 50.80 60.40 154.75 153.65 37.73 2.00 1.90 40.77 1.35 1.30 45.09 2.15 2.10 47.86 5.25 5.10 66.33 380.50 378.25 60.36 214.00 212.90 46.01 63.70 63.35 37.09 258.00 255.45 18.56 12.75 12.65 51.22 223.50 223.00 47.97 19.70 19.45 48.81 16.55 16.30 37.36 20.05 19.90 34.89 1.40 1.35 33.43 2.30 2.15 44.44 60.70 60.15 32.74 1.75 1.70
1st
2nd
Resistance 2.50 2.60 64.45 65.40 49.70 50.35 29.10 29.70 19.35 19.75 63.05 63.60 11.95 12.20 6.45 6.65 381.50 383.50 134.10 136.30 10.90 11.05 3.95 4.15 6.85 6.95 1.75 1.80 23.95 24.20 2.50 2.65 2.40 2.45 35.05 35.45 69.25 70.55 152.80 154.05 10.65 10.95 4.20 4.25 48.05 48.60 165.10 166.30 123.10 124.25 39.20 39.35 157.80 158.55 207.35 208.65 2.70 2.75 1.30 1.45 2.25 2.40 7.65 7.80 43.15 43.25 2.20 2.30 12.95 13.15 75.70 76.85 199.25 201.15 2.15 2.25 55.55 56.25 20.90 21.15 20.95 21.20 1.50 1.55 3.15 3.25 52.00 52.50 156.70 157.60 2.20 2.30 1.50 1.65 2.25 2.30 5.60 5.85 385.75 388.75 216.85 218.60 64.65 65.30 263.60 266.65 12.95 13.05 225.00 226.00 20.20 20.40 17.05 17.25 20.35 20.45 1.50 1.55 2.65 2.85 61.80 62.35 1.90 1.95
Pivot 2.45 63.75 49.25 28.65 18.95 62.65 11.85 6.35 380.00 132.80 10.80 3.90 6.75 1.70 23.80 2.45 2.35 34.55 68.70 152.05 10.45 4.15 47.50 164.15 121.55 39.10 157.15 206.65 2.60 1.20 2.20 7.55 42.85 2.15 12.85 74.35 198.15 2.10 55.10 20.75 20.80 1.45 3.10 51.65 155.60 2.10 1.45 2.20 5.45 383.50 215.75 64.35 261.05 12.85 224.50 19.95 16.80 20.20 1.45 2.50 61.25 1.85
City situation keeps KSE under pressure Nawaz Ali KARACHI: Shares ended with trivial gains at the Karachi Stock Exchange (KSE) on Friday as the intra-day gains were wiped out due to profit taking by the investors over deteriorating security situation in the city. The benchmark KSE-100 index was up by 2 points to close at 12,476 points, KSE-30 index rose by 33 points to close at 11,917 points and KSE allshare index grew by 1 point to close at 8,644 points. "Profit taking was witnessed at inflated levels due to poor law and order situation in the city and investors preferred to play safe as it was the last trading session of the week", said Murtaza Jafar, equity dealer at JS Global Capital. It should be noted that more than 10 people were killed and several injured in the Malir and Landhi areas due to indiscrimi-
nate killing of people belonging to a specific ethnic group on Friday. FFBL came in for active buying as the company increased DAP prices by Rs150/bag to offset the impact of higher phos-acid contract prices for the 3Q2011, added Murtaza. The day began on a positive note with index up 21 points up, after that gains were gradually consolidated as investors took positions in stocks mainly from the fertilizer and banking stocks. T Therefore index at about 11:09 a.m. touched an intraday high of 12,542 points (+ve 67). Subsequently, profit taking reduced the gains and market closed with a gain of 45 points. Profit taking continued during the second session as wary investors preferred to offload their holding due to the ongoing law and order situation in the city. Therefore during the
last half an hour index went down to the red zone but due to support at lower levels losses didn't go beyond 5 points. Foreign investors stayed on the selling side as according to NCCPL data, offshore investors did e net selling worth $3.82 million on Friday which totaled to a net selling of $22.3 million during the week. Volumes however were on the higher side as 126.2 million shares traded during the day which was 55.9 million shares more as compared to a turnover of 70.3 million shares on Thursday. NIB Bank (R) was the volume leader with 59.61 million shares followed by Fauji Fertilizer Bin Qasim with 6.44 million shares and Arif Habib Corporation with 5.04 million shares. Out of total 340 active issues; 118 advanced and 110 declined while 112 issues remained unchanged.
China snaps four-session losing streak
Hong Kong shares gains HONG KONG/SHANGHAI: Hong Kong and China shares gained on Friday, as global debt concerns appeared to ebb, giving investors a chance to focus on low valuations ahead of results from China Inc even as average turnover suggested a lack of conviction. An accord in Europe on a second round of aid to Greece plus reports of a potential US debt deal brightened what's been a gloomy period for investors, who have pushed down valuations for Chinese shares to their lowest levels in nearly three years. "But there's still room to move, at least for the next few weeks. You may see the market zigzag because of the news flow, we still have the US debt ceiling and the Europe situation could still change." The benchmark Hang Seng
No #1
Index closed up 2.1 per cent on the day at 22,444.8 points, its biggest one-day gain in two months as turnover totalled HK$72.6 billion, roughly in line with its 2011 average to date. The index gained 2.6 per cent on the week. The China Enterprises Index of the top 40 Hong Kong-listed Chinese shares, also known as H-shares, which gained 2.3 per cent on Friday, is trading at 8 times forward 12-month earnings, according to Thomson Reuters data. "Given how weak the markets have been, the volume on this rebound is not great," said a senior trader at an Asian brokerage in Hong Kong. "Come next week, I expect people to start looking to get short again," he added. China Cosco , with a beta of 2.3, which means the stock is
Continued from page 8
"Realising that more capacity was needed to support the surge of forces into Afghanistan and the movement of thousands of Mine Resistant Ambush Protected Vehicles (MRAP), US Transcom worked closely with US Centcom and the Department of State to secure access to additional airfields and seaports in the Persian Gulf. Using a concept called multi-modal operations, large volumes of cargo and thousands of vehicles were moved by sea to locations in closer proximity to the USCENTCOM area of operations, by truck from the seaports to the nearby airfields and then by air to Afghanistan," Fraser said. - Online
No #2
Continued from page 8
By adopting good management practices, he added, small farmers could increase milk and meat production up to 25 to 50 per cent. Dr Nawaz said UVAS was making efforts for the development of livestock and producing professional manpower to uplift the nation. - APP
No #3
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Ri Yong-ho, North Korea's vice foreign minister who handles nuclear diplomacy, was smiling as he said: "(We) met as part of efforts to resume six-party talks as soon as possible." South Korea, the United States and China, which hosts the sixway forum, have agreed on a three-stage process for envoys from Seoul, Pyongyang and Washington to meet first before the negotiations can resume. Japan and Russia make up the rest of the participants. North Korea walked away from the six-way nuclear talks more than two years ago, but last year called for their resumption. A US official said the United States had asked China, North Korea's only major ally, to put pressure on the reclusive state to come to the negotiating table. "We on our part, with the Chinese, indicated that it was imperative that they communicate directly to North Korea that they take this opportunity for diplomacy and not contemplate further provocative acts," the official said, speaking on condition of anonymity. Asked what the U.S. response to the North-South meeting was, the official said Washington had not yet been briefed on what transpired. "We think it's an important step that they met today, but we don't know what the result of the meeting was. The fact that they met in a high profile setting ... as opposed to in some secret setting probably has some significance. "There's no determination to rush into anything. When you deal with the North Koreans, understanding the importance of patience is clearly a virtue in this respect. We've been down this road so many times before, and so we want to be careful that we know what the road is." TRUST DEFICIT Other nations at the security forum also welcomed the move. "The trust deficit between the two Koreas was such that any communication at any stage is good and positive progress," said Foreign Minister Marty Natalegawa of host nation Indonesia. Japan said renewed talks were important for Asia. "North Korea is a destabilising factor in the region," Satoru Satoh, Japanese Foreign Ministry spokesman, told reporters. He said the international community needed to remain engaged with Pyongyang but added: "The North-South dialogue should move forward before the six-party talks." "We are not satisfied with dialogue for the sake of dialogue," he added. "There should be progress." Tensions rose to the highest level in years when a South Korean navy ship was sunk last year in a torpedo attack, killing 46 sailors. South Korea blamed the North, but Pyongyang denied any role. The North shelled a South Korean island in November. South Korea has demanded some expression of regret from
7
Stock Review & Continuations
Saturday, July 23 , 2011
likely to move twice as much as it underlying benchmark, rose 5.8 per cent in more than twice its 30-day average volume. The Shanghai Composite Index snapped a four-day losing streak to edge up 0.2 per cent on Friday to 2,770.8 points, but it was not enough to prevent the benchmark from its first weekly loss in five as it finished down 1.8 per cent. Shanghai has been trading in a 70-point range for the last three weeks, weighed by domestic concerns brought to the fore on Friday by the lowest Shanghai A-share turnover in a month. Turnover totalled 82.2 billion yuan, some 27 per cent lower than its 20-day average and a fresh one-month low, underlining investors' caution on China's broader economic outlook compounded by a squeeze in market liquidity.-Reuters
US stocks mid-day
Dow drops as Caterpillar disappoints NEW YORK: The Dow fell on Friday after disappointing results from Caterpillar and Microsoft, reversing optimism after a strong week of earnings. Caterpillar Inc fell 5.2 per cent to $105.80 after its profits missed estimates and it said the US recovery was weaker than expected. The heavy equipment maker has an out-sized influence on markets because it is seen as a barometer of economic activity. Caterpillar's stock, the best performing Dow component in 2010, was the average's top drag on Friday. Microsoft Corp posted a greater-than-expected jump in fourth-quarter profit but sales of its flagship Windows software disappointed for the third straight quarter. The Dow component dipped 0.1 per cent to $27.07. "We had a little bit of shortfall from Caterpillar," said Anthony Conroy, head trader at BNY ConvergEx, an affiliate of the Bank of New York. "It's taking the market off a little bit." He noted that stocks have had "a nice run-up in the past couple of days," explaining some of the selling. The Dow Jones industrial average was down 47.30 points, or 0.37 per cent, at 12,677.11. The Standard & Poor's 500 Index dipped 2.03 points, or 0.15 per cent, at 1,341.77. The Nasdaq Composite Index was up 6.28 points, or 0.22 per cent, at 2,840.71. General Electric Co dipped 0.5 per cent to $19.07, even as it reported a 21.6 per cent jump in quarterly profit. McDonald's Corp's income topped estimates, sending the stock up 3 per cent to $89.06. At an emergency summit on Thursday, euro zone leaders promised a second Greece bailout with an extra 109 billion euros ($157 billion) of government money, plus a contribution by private sector bondholders that could top 50 billion euros by mid2014.-Reuters
Indian shares gain for fourth week MUMBAI: Indian shares rose for the fourth week in five, gaining 1.6 per cent on Friday, joining the global rally after European leaders agreed on a second round of aid to Greece, and investors awaited the central bank's policy review next week for more cues. Financials rebounded and led the charge, with the banking sector index rising more than 2 per cent after falling more than 2 per cent over the last two sessions. The 30-share BSE index firmed 1.55 per cent, or 286.11 points, to 18,722.30 points, taking gains for the week to 0.9 per cent. Twenty-seven of its components closed in the green. "We are catching up with the rally in global stocks today," said Nitin Rakesh, head of Motilal Oswal's asset management business. World stocks advanced after European leaders agreed to ease lending terms to Greece, Ireland and Portugal, while private investors would voluntarily swap their Greek bonds for
longer maturities at lower interest rates to help Athens. Rakesh said all eyes were set on the Indian central bank's policy review next week, and any indication that the interest rate cycle has peaked would be a major positive for the market. "We have to look for signs if the interest rate cycle will turn. We need to watch if we are at the end of tightening cycle," he added. Asia's third-largest economy is nearing the end of its credit tightening cycle, as 10 interest rate increases since March 2010 exact a toll on growth in a once-roaring economy, making Tuesday's expected rate rise potentially the last for the near future. Foreign funds have been net sellers on two days this week, trimming their inflows to $2.7 billion over the past one month. "Valuation compulsions may drive FIIs (foreign institutional investors) towards our market in the second half. But, macro headwinds need to clear off," Motilal Oswal's Rakesh said.Reuters
Nikkei at two-week high TOKYO: Tokyo stocks climbed to a two-week high on Friday, led by banks that jumped on Morgan Stanley's strong results and euro-sensitive issues such as Canon , up on the euro's gains after officials agreed on steps to solve Greece's debt woes. "Watch volumes on banks. This is still mostly long-term investors who previously owned the stock re-establishing positions, but we're also seeing some new buyers piling into these shares," said Takashi Ohba, a senior strategist at Okasan Securities. The Nikkei rose 1.2 per cent to 10,132.11, its highest close since July 8 and adding 1.6 per cent for the week. The broader Topix rose 1 per cent to 868.81. "More firms posted earnings above expectations yesterday, defying worries over supply
chains. That's why firms posting results next week are charging higher today," said a trader at a foreign brokerage who did not want to be quoted by name. Morgan Stanley wowed Wall Street on Thursday with results that far surpassed expectations, while an emergency summit of leaders of the 17-nation euro zone pledged on Thursday to conduct a second bailout of Greece. Goldman Sachs also said on Thursday that Japanese lenders were likely to report earnings consensus for the first quarter of this fiscal year in line or above the market's consensus, adding to banks' rally. The brokerage said Mitsubishi UFJ is its top pick. Volumes picked up with 1.8 billion shares changing hands on the main board, higher than this week's daily volumes of around 1.5 billion shares.-Reuters
FTSE up on financials LONDON: Britain's top shares ended higher on Friday, in spite of banks paring gains after initial euphoria over a Greek debt bailout wore off. Banking stocks closed mixed, having enjoyed early solid gains after leaders of the euro zone announced on Thursday a second rescue package for Greece. "You've basically got a bit of a post-euphoria hangover. After some of the details of the bailout plan have been digested and picked apart, it's probably not as positive as people first thought," Michael Hewson, market analyst at CMC Markets, said. The UK benchmark index ended up 35.13 points, or 0.6 per cent, at 5,935.02, off an intra-session peak of 5,966.84. Heavyweight Vodafone climbed 2 per cent, adding more than 6 points to the index, as the mobile telecom group's first-quarter trading update beat expectations. Royal Bank of Scotland, boosted by a West LB upgrade to "neutral", firmed 2.3 per cent, HSBC climbed 0.6 per cent, and sector peers ended the session in negative territory, with Lloyds Banking Group off 0.9 per cent. Insurers also came off highs inspired by the Greek deal, though deal talk helped limit losses. Aviva rose 1.3 per cent to 425 pence after various newspaper market reports highlighted bid speculation, with 600 pence a share mentioned and Allianz and Zurich Financial highlighted as likely predators. Miners firmed in spite of doubts over economic growth and metals demand in top consumer China after it released weak data on Thursday. On the FTSE 250 easyJet soared nearly 18 per cent after the low-cost carrier raised fullyear guidance alongside reporting strong growth in third-quarter revenue after it attracted more business travellers. Large-cap peer International Airlines Group was boosted by the news, up 2.2 per cent, ahead of first-half results on July 29.-Reuters
Pyongyang about the attacks as indication that the North is seri- er factor contributing to inflationary pressure. Overall, the analyst said, the average inflation in FY12 ous about reducing tensions and working to bring stability to the was expected to be around 12 per cent according to the government's projection. After Ramadan the Korean peninsula. year-on-year CPI might touch 11 percent due to high base affect, he said. North Korea's two nuclear tests in the past five years rattled the Continued from page 1 No #8 region. They triggered international sanctions against Pyongyang Injured were removed to the area. Law enforcing agencies reached their very late. Rangers with believed to be squeezing its already troubled economy by cutting armoured vehicles entered into few of the areas but they couldn't enter in most of the areas due to off a lucrative arms trade. - Reuters the narrow streets and passages. Sources said political parties are fighting over the possession of Continued from page 8 No #4 offices and shops. Police said ten people were killed during the ongoing fight. Two bodies of Akbar, where Russian can play pivotal role. Nadeem Shehryar were removed to Sindh Government whereas that of Akram shifted to the Jinnah In the petroleum sector, cross country bulk gas transport lines Hospital whereas injured included Kashif, Waseem, Adnan, Nabi Khan and Dr Ashfaq. Dr Afzal and (Turkistan Afghanistan Pakistan and Iran Pakistan India), termi- Ahsan sustained severe injuries in another incident of firing between two groups in Landhi 89-More. nals stations and oil storage farms were discussed. Transfer of Violence in the port city, which began 5 July, has left over 100 people dead. Interior minister Sindh techno and training of Pakistanis was also tabled as another area Manzoor Wasan said specific time is needed to settle peace in the city and some share from every of possible cooperation between the two countries. party also needs to bring back tranquility in the city. The delegation was well received by Naveed Qamar, Minister Police said that because of its weak strength, it has been unable to control the situation. - Online for Water and Power, Saleem Mandviwala Chairman BOI, Continued from page 1 No #9 Shakeel Durrani, Chairman Wapda, Shahid Sattar, Member kind of trust and confidence in each other," he said. Musharraf, who lives in London but plans Energy of Planning Commission and other officials. - Online return to Pakistan next year and participate in 2013 elections, outlined steps Islamabad and Continued from page 8 No #5 Washington, needed to take to restore trust in relations he said were "at their lowest in a decade". Friday's appointment places the king's son in pole position to In addition to dispelling the bin Laden suspicions, Pakistan had to address U.S. anxiety that it is take over the portfolio, which some analysts had previously spec- not actively pursuing the Haqqani group and other extremists living along its border with ulated could go to Saud al-Faisal's brother Turki, former intelli- Afghanistan, he said. "The United States must show consideration to our sensitivities" about sovergence chief. Abdullah has tried to push back the influence of pow- eignty, nuclear weapons and India, including the divided and disputed territory of Kashmir, said erful clerics in Saudi Arabia since ascending the throne in 2005. Musharraf. Pakistanis resented U.S. drone attacks on militant targets that often killed innocent civilBut in the face of pro-democracy protest movements sweeping ians, he said. The country also sought from Washington "a more balanced treatment of Pakistan and the Arab world this year he raised funding for clerics and other India and understanding that Pakistan's nuclear capability is because of an existential threat," said key groups in Saudi society. Musharraf. - Reuters He appointed his son Mutib as head of the National Guard last Continued from page 1 No #10 year. Analysts say hawkish Interior Minister Prince Nayef, who On the issue of point of order of Anjum Aqeel, Prime Minister was of the view that it is the duty maintains close ties with the clerics, is well-placed to become king but Abdullah is trying to promote allies while he still rules. of the government to implement the production order of any MNA and in the past when he was NA Washington sees Riyadh as a key ally in its global fight against Speaker he also issued production orders of various MNAs. Meanwhile the lawmakers of Muttahida Qaumi Movement staged token walkout of the house to al Qaeda, founded by Saudi dissident Osama bin Laden. US protest against fresh spate of violence in Karachi but returned back to the session after some time. forces killed bin Laden in Pakistan this year. - Reuters Sajid Ahmed, a MNA of the MQM, blamed the government of Sindh for killings in Karachi and Continued from page 8 No #6 alleged that provincial minister Zulfiqar Mirza has unleashed a gang war in Lyari area of Karachi. fire raged for two hours, and completely destroyed victims' bodies. Later the National Assembly session was prorogued for an indefinite period. - Online
No #7
Continued from page 1
country's economic condition and a measure of whether the state's policies are working or not. He said stable inflation provides impetus for economic growth. "Pakistan has been in the grip of high inflation in recent years which has adversely affected the economic health of the country," he said. The analyst cited structural weakness arising from energy shortages, along with hike in the international commodity prices, particularly oil, as major reasons behind the high inflationary period in the country. In addition, he said, upward adjustment in electricity tariffs, devaluation of rupee against the dollar and access government borrowing from the State Bank also lead to the creation of inflationary pressures. The analyst said that Pakistan's currency had witnessed an annual average devaluation of 9.3 per cent during last four years while the government's budgetary borrowings from the central bank stood at Rs3.0 trillion at the end of FY11. The analyst said that Pakistan's GDP growth rate has slowed down at a time when South Asian economies are booming. FY12 is expected to be another year of double-digit inflation on the back of higher commodity prices, particularly international crude oil and food products. These factors, he said, had previously been contributing approximately 50 per cent to CPI basket and had been the major culprit behind the recent inflationary pressure. Food inflation stood at an average 14.6 per cent in last the last four years, while oil-related inflation stood at an average 13.7 per cent in the same period. "The impact of the commodity price hike would be further augmented by structural weakness arising from energy shortage and weakness in the supply chain," he warned. In addition to commodity price hike, the analyst said, fiscal indiscipline was anoth-
No #11
Continued from page 1
The minister pledged that he was available anytime for an in-camera briefing to the Parliament pertaining to Karachi situation. "Someone should ask senior federal ministers why the provincial governments have been failed to bring peace and harmony in their respective provinces," Malik inquired. The PML-N's Ishaq Dar broke the ice, insisting on a point that all political forces should play a joint role to figure out solutions to the challenges being faced by Pakistan at this juncture. - INP
No #12
Continued from page 1
He said that the foreigner investors were trying to ban trade unions in Pakistan. Rabbani said that even MD KESC refused to meet the Governor and Chief Executive of the province which was a blatant violation of country laws. "Whether the foreigner investors are above the country law," he inquired and said they have to obey to the law of the land. He said the Chairman of Securities and Exchange Commission of Pakistan has also asked Nepra to take over KESC. He also criticized Chairman Nepra for not taking action against KESC and demanded of the Chair to take up the issue with him. He said it was a conspiracy to derail democratic system in the country and the government should sort out the issue immediately. Earlier, the agitated members of the MQM and Awami National Party (ANP) on Friday demanded from the government to control law and order situation in Karachi while later MQM staged a token walk out from the proceedings in sheer anger. The leader of the opposition in Senate Abdul Ghafoor Haidri has labeled government as being miserably failure in unleashing its potential to make Karachi a 'violence-free' city. During the debate in Senate on the maintenance of law and order and peace in Karachi, Abdul Ghafoor Haidri demanded government that all political parties and religious schools of thought be taken onboard on Karachi situation in order to chalk out a foolproof plan. MQM's Senator Tahir Mashadi said land and drug mafias finance all killings in Karachi. Flaying the killings of MQM activists in Malir, Senator Zahid Khan of the ANP, Senator Wali said that efforts were afoot to get the city conquered. They said that MQM was being ambushed once again, which their party would forcefully resist. They said that MQM, ANP would not only raise the voice within the assembly but also outside against the nefarious efforts to destabilize the city and finally conquer it. Babar Ghauri told the House that compensation must be made for the innocent lives. - Online
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8
Saturday, July 23, 2011
Not Occupied Kashmir
KARACHI: Paramilitary forces on vigil after violence erupted in Malir area on Friday.-Online
Haqqani promises to address US concerns WASHINGTON: Pakistani Ambassador to United States Husain Haqqani said that the relations between both the countries was facing many challenges, adding that we look forward to working together in addressing concerns of the US Congress. Talking to a private TV channel, Haqqani said that foreign office made all out efforts to strengthen the relationship between Pakistan and United States. He said that Pakistan persuaded 32 US Congress members to reject the bill presented before the US Congress panel that would have cut all Pakistani aid. We are thankful to the House Foreign Affairs Committee for defeating an amendment
to the Foreign Assistance authorization bill that would have restricted all US security assistance to Pakistan," he added. Our efforts to present Pakistan's case before Congress and to explain our difficulties and limitations continue, he said. Pakistan would still have several hurdles to climb and many misgivings to address before the Congressional process of aid authorization and appropriation is completed, he added. Pakistan and the United States have a complex, multidimensional relationship. Both countries need each other, he said, adding that, occasionally there are differences between the best of allies, he said. - Online
Two Koreas hold maiden parleys after 2 years NUSA DUA, Indonesia: South and North Korea held highlevel talks for the first time in two years in Indonesia on Friday, and said they would work to resume the stalled sixparty dialogue for nuclear disarmament on the Korean peninsula. The surprise meeting between their nuclear envoys, which was described as cordial and lasted about two hours, was the first such contact between the two Koreas since the last round of the six-way nuclear disarmament talks in 2008. It is also a step forward in the diplomatic effort to resume those negotiations since the United States and Japan, also
participants in the six-party dialogue, have said South Korea and the nuclear-capable North must first establish some rapport. "We agreed to continue to make joint efforts in the process of negotiations for denuclearisation," South Korean nuclear envoy Wi Sung-lac told reporters after the talks on the sidelines of an Asian security conference on the island of Bali. "We agreed to make joint efforts to set conditions to resume the six-party talks as soon as possible. I had very constructive and useful conversations with my counterpart." See # 3 Page 7
Pakistan recognises South Sudan ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani on Friday approved the recognition of Republic of South Sudan by Pakistan. The United Nations General Assembly added the candidacy of South Sudan as the 193rd member state after declaring its independence from Sudan on July 9. So far 88 countries have accorded recognition to the newest independent country. In a message to the President of the Republic of South Sudan, the Prime Minister conveyed heartiest felicitations on behalf of the people and the government and people of Pakistan. He expressed best wishes for the success in nation building efforts as well as in socio-economic development of South Sudan. The Prime Minister said Pakistan looked forward to working closely with the South Sudanese government both at bilateral and multilateral fora to advance shared objectives of peace, prosperity and development of peoples of both the countries. - APP
Pak can raise dairy, meat output up to 50pc LAHORE: Vice Chancellor of University of Veterinary and Animal Sciences (UVAS) Prof Dr Muhammad Nawaz has said that one third of fodder and water are being wasted due to low potential animals which should be replaced with best genetic animals. Talking to APP here on Friday, he said, "the country lags behind in milk production due to low potential animals which give only three to five litre per animal in a day while it should meet the target of 20 to 25 litre per animal being a good milk producing country. However, despite these shortcomings, Pakistan is the third largest milk producing country in the world". See # 2 Page 7
Russia offers help to solve energy crisis ISLAMABAD: Russia shall extend its support to Pakistan to alleviate power sector problems, Michael Pleshin, Director of Department of International cooporation of the Ministry of Energy of Russian Federation stated at the conclusion of a two day visit to Pakistan from 20 to 21 July 2011. The high power delegation besides officials from the Energy Ministry comprised member from M/s Inter Rao UES - Russia's leading power generation and distribution organization and Techpromoexport-another leading Russian company in the power sector.
Russian support is highly welcome in the wake of severe economic crises due mainly to the ever increasing gap between power needs and power generation of around 6000 MW. Both sides agreed that the power shortfall could be effectively addressed through mutual cooperation. This would be a much needed and critical support which can act as catalyst to revive Pakistan's economy. The delegation met and discussion cooperation in the power, oil and gas and trade sectors with Planning Commission, Ministry of Petroleum and Natural
Resources, Ministry of Water and Power, PPIB, Wapda, Punjab Energy Board and local business groups. In the very short terms revamps and up gradation of old power stations including at Kot Adu and Muzafargah would likely be planned, in addition to construction of medium range power generations to augment the power supply. Revamp of old and inefficient high tension power transmission lines is yet another area of possible cooperation between the two countries. Possibility of importing power from CAR was also discussed See # 4 Page 7
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Hina pledges to steer Pak-India talks ISLAMABAD: Days ahead of her visit to New Delhi for crucial talks with her Indian counterpart, new Foreign Minister Hina Rabbani Khar has said her priority in the parleys with India would be to set a future direction for the bilateral relationship. Hina said it is a "positive step" that India is serious in the talks and is moving to institutionalise the process of negotiations with Pakistan. There was forward movement in recent talks between the two countries, she said. The Pakistani position for the upcoming talks is that it wants to "look at the entire picture and at the root causes of problems", Hina said in an interview with state-run channel. It was the success of Pakistan to bring India back to the negotiating table, and the priority for the upcoming talks would be to set a future direction for bilateral relationship, she added. During her talks with External Affairs Minister S M Krishna, the two sides will take stock of progress made at secretary-level talks, said Hina, who will travel to India on July
26 and hold talks with Krishna the following day. She said Pakistan is proactively engaging with neighbouring countries, particularly Afghanistan and India, to achieve sustainable peace and stability in the region. Asked about the arrest of Kashmiri leader Ghulam Nabi Fai in the US on charges of working for Pakistani intelligence agencies, Hina said Fai is a US citizen and "he will be able to resolve his present problem within the available system" She said peace and stability in Afghanistan is critical for Pakistan and the destinies of the two countries are interlinked. Pakistan desires that Afghanistan should be peaceful and stable, she added. "The only role of Pakistan as a neighbour is to help stabilise Afghanistan... We insist that the reconciliation process in Afghanistan must be Afghanled and Afghan-owned," Hina said. Afghanistan should be a sovereign country and due consideration should be given to what the Afghan jirgas, government and parliament say, she said.
"Many countries have the view that any foreign presence in the region will create problems in the long run," she remarked. Asked about her upcoming meeting with US Secretary of State Hillary Clinton on the sidelines of an Asean conference this week, Hina said Pakistan is "reviewing its terms of engagement with the United States". She stressed the need to bring clarity on issues between the US and Pakistan. Her job, she said, is to bring more clarity on issues and look at convergences with other countries. "Our relationship with the US has suffered because of lack of clarity on issues... We should be more pro-active in the engagement with the US and try to minimise grey areas, so that there are no misperceptions," she said. The Pakistan-US relationship is based on convergence of interests. "Pakistan is a very important country in the region. Why we should be apologetic?" she added. Hina was hopeful that both countries would continue with their Strategic Dialogue based on
US supplies via Pak to Afghanistan down 35pc WASHINGTON: The US has dramatically reduced its reliability on Pakistani supply routes to Afghanistan to 35 per cent, given the volatile nature of the border areas where a number of Nato suppliers have come under attack. According to American media, America's reliability on Pakistan for supplying goods and arms and ammunition for its troops in Afghanistan has reduced to just 35 per cent, a top Pentagon official told US lawmakers. This is a considerable achievement given that till recently it was more than 70 per cent and this was considered to be one of the main bargaining points for Pakistan with the United States. This figure of 35 per cent is expected to down further down in the coming months as the Pentagon is working to increase its supply to Afghanistan through the Northern Distribution network. "It's my understanding that approximately 35 per cent moves through the ground, and the other is moving through the Northern Distribution Network, coupled with also lift as we bring in supplies by air," General William M Fraser told the Senate Armed Services
Committee at his confirmation hearing to be Commander, United States Transportation Command. The US officials have stated in recent times that they were working on reducing their dependency on the supply routes in Pakistan after a series of attacks on Nato tankers carrying oil and other goods to western forces and Afghanistan."If you have to, how long would it take you to make up for that 35 per cent? Suppose tomorrow Pakistan shut off those supply routes. "How long would it take you to adjust to keep the same level of logistics into Afghanistan?" Ranking Republican Senator John McCain, asked.Gen Fraser said if confirmed he would certainly delve deeply into that. "I have not learned the details of that specifically," he said."I have not delved deeply into the plan. I know ongoing planning is happening. I know there would be a disruption. But if confirmed, I would delve deeply into that plan to ensure that any disruption that we have is minimal, to ensure that we continue to provide that effective yet efficient support to the war fighter,"
Fraser said. "We would also have the ability to tap into start airlift from the United States, too. So it's not just intra-theater, but it's also inter-theater. Intra-theater it's also using ships. "So it would be a holistic look that we would have to address, and I will delve deeply into that," he said. Earlier, in response to written questions, Fraser said the possible closure of Pakistan lines of communication would not change the requirement of about 300 organic strategic airlift aircraft."Improving throughput at existing airports and expanding capacity in our surface networks which supply Afghanistan has again been a centerpiece of our efforts in 2010. "The Northern Distribution Network (NDN) remains a priority for US Transcom," he said. "In 2010, two additional routes were added through the Baltics and Central Asia and continue to improve the processes, facilitating a faster, less costly cargo flow. "In addition to the NDN improvements, capacity was added at intermodal Persian Gulf locations," he said. See # 1 Page 7
Rs24bn earmarked for flood-affected highways ISLAMABAD: The Federal Minister for Communications Dr Arbab Alamgir Khan Khalil said that Ecnec has approved Rs23.566 billion PC-1 for the rehabilitation of the 2010 flood affected highways. In addition to this the Asian Development Bank will also provide 185 million dollars' assistance for the purpose. The Federal Minister Dr Arbab Alamgir Khan Khalil expressed Ecnec has approved Rs23.566 billion for the rehabilitation of flood affected highways while addressing the 24th session of the National Highway Council in which Federal Secretary Communications Anwar Ahmad Khan, Chairman NHA Syed Muhammad Ali Gardezi and all members of the council participated. The Federal Minister said that the last year's floods caused a loss of Rs858 billion
rupees to the economy out of which Rs113 billion has been in the transport and communications sector. He said that the NHA this year has had financial constraints because its sphere of activities has widened considerably and funds provided to it by the government are far short of the requirement. Dr Arbab Alamgir Khan said that last year the government allocated Rs44.637 billion for NHA under the Public Sector Development Program, but since a deduction of 50 per cent was made in the said development expenditure, the NHA's share was reduced to Rs18.5 billion rupees and the NHA has received a total of Rs18.112 billion only. That is why payments to contractors of construction projects have been delayed and it has also had an impact on the development process. Dr.
Arbab Alamgir Khan said that a total of Rs13.375 billion were due to be paid to contractors by 30th June 2011 and a briefing was also given to the Prime Minister in June 2011 in the said context and the Prime Minister directed that, during the current year, only such projects may be prioritized whose 70 per cent work has been completed, and should a project of importance comes up for consideration, it may be given preference. The Federal Minister, while welcoming the new Chairman NHA Syed Muhammad Ali Gardezi, congratulated him on taking charge and expressed the hope that his professional capabilities will certainly improve NHAs performance. Some important decisions regarding construction projects and other issues were also made during the meeting of National Highway Council. - Online
diplomatic, economic, trade, military and intelligence cooperation. She noted that the government has taken full ownership of the resolution passed by parliament after the covert American raid that killed Osama bin Laden in May and told the United States that drone attacks are counter-productive. "The drone attacks are contracting the political space gained by the democratic leadership," she said. Despite the fact that Pakistan has various challenges, it also has numerous opportunities for development and prosperity, Hina said. Pakistan's economy is "not dependent on foreign assistance and there is a need to come out of the dependency syndrome", she said. Those who are killing innocent people in mosques and at public places and attacking law enforcement personnel are not the well-wishers of Pakistan, she remarked. The current law and order situation is hampering the progress of Pakistan, she said. - Online
Saudi King appoints son as deputy FM JEDDAH: Saudi Arabia's King Abdullah appointed his son Abdul-Aziz to the post of deputy foreign minister on Friday, in a move that appears to strengthen the king's hand in Saudi foreign policy amid jostling for positions among senior princes. The state news agency said the move was part of a series of appointments made by the king, who is in his 80s. Saudi Arabia, the world's leading oil exporter and home to Islam's holiest sites, is facing a succession struggle as senior princes in the absolute monarchy maneuvers to secure their power bases. King Abdullah and his halfbrother Crown Prince Sultan, the country's defence minister who is also in his 80s, and have spent time abroad to treat health problems in recent years. Foreign Minister Saud alFaisal has occupied the post since 1975 but has difficulty speaking in public due to illness. See # 5 Page 7
41 killed in central China bus blaze TFD Monitoring HENAN, China: At least 41 people died on Friday when an overcrowded bus that was carrying hazardous goods caught fire in central China, state television reported. The fire happened early on Friday morning on a highway in Henan province, China Central Television (CCTV) said. Five passengers and the driver were pulled out alive from the overnight bus made up of 35 berths allowing passengers to sleep as they made their way to Hunan province further south, according to other media reports. The double-decker bus was overcrowded, and also had dangerous goods on board, CCTV said, although it did not provide further details. Photos of the accident showed the bus had been completely destroyed by the blaze the cause of which is still being investigated leaving only a burnt-out shell. A police officer told the official Xinhua news agency the See # 7 Page 7
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