International Karachi, Saturday, April 30, 2011, Jumadi-ul-Awwal 26, Price Rs12 Pages 12
Pak enjoys warm US, Afghan ties: Haqqani
Petraeus CIA move raises Pak's brows
See Page 12
Gwadar Port rail link soon: Bilour
See Page 12
Constitution allows new provinces, says Malik See Page 12
See on Page 12 Economic Indicators Forex Reserves (23-Apr-11) Inflation CPI% (Jul 10-Mar 11) Exports (Jul 10-Mar 11) Imports (Jul 10 - Mar 11) Trade Balance (Jul 10 - Mar 11) Current A/C (Jul 10- Mar 11) Remittances (Jul 10 - Mar 11) Foreign Invest (Jul 10-Mar 11) Revenue (Jul 10 Mar 11) Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Mar 11) LSM Growth (Jul 10- Feb 11)
GDP Growth FY10E Per Capita Income FY10 Population
Pakistan Business Council gives presentation
$17.18bn 14.20% $17.80bn $29.02bn $(11.22)bn $99mn $8.02bn $1.32bn Rs 1012bn $58.39bn Rs 5497.4bn $491mn 0.98% 4.10% $1,051 175.89mn
Traders pushed to lead economy President urges entrepreneurs to address challenges Says stable Afghanistan is in regional interest
Portfolio Investment SCRA(U.S $ in million)
225.91 49.82 4.77 2714
Yearly(Jul, 2010 up to 28-Apr-2011) Monthly(Apr, 2011 up to 28-Apr-2011) Daily (28-Apr-2011) Total Portfolio Invest (16-Apr-2011)
NCCPL (U.S $ in million)
FIPI (29-Apr-2011) Local Companies (29-Apr-2011) Banks / DFI (29-Apr-2011) Mutual Funds (29-Apr-2011) NBFC (29-Apr-2011) Local Investors (29-Apr-2011) Other Organization (29-Apr-2011)
2.69 -2.85 1.84 0.52 0.19 -2.70 0.31
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,057.54 9,849.74 23,720.81 19,135.96 2,695.50 2,912.14 6,069.90 12,827.42
Change 90.87 157.90 84.82 156.06 8.74 25.09 1.74 64.11
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$.Price PKR/Shares 2.60 109.94 15.26 129.05 2.00 42.28 1.70 35.94 11.20 37.87
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
13.25% 13.62% 13.87% 14.00% 13.22% 13.39% 13.69% 14.09% 14.20% 13.98% 14.03% 14.10% 14.43% 14.68% 14.90%
20-Apr-2011 20-Apr-2011 20-Apr-2011 26-Mar-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011 29-Apr-2011
Commodities *Crude Oil (brent)$/bbl 125.67 *Crude Oil (WTI)$/bbl 113.40 *Cotton $/lb 153.20 *Gold $/ozs 1,548.40 *Silver $/ozs 48.71 Malaysian Palm $ 1,105 GOLD (NCEL) PKR 41,758 KHI Cotton 40Kg PKR 10,717 Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 91.40 Canadian $ 88.10 Danish Krone 16.10 Euro 124.60 Hong Kong $ 10.80 Japanese Yen 1.018 Saudi Riyal 22.40 Singapore $ 68.20 Swedish Korona 13.40 Swiss Franc 94.20 U.A.E Dirham 22.90 UK Pound 140.00 US $ 84.40
92.40 89.10 16.50 126.00 11.10 1.044 22.60 69.20 13.70 95.30 23.10 141.50 84.75
LONDON: Prince William exchanges rings with his bride Catherine Middleton in front of Archbishop of Canterbury Rowan Williams inside Westminster Abbey. -Reuters
Royal wedding costs around 5 billion pounds
Prince William ties knot to his princess LONDON: Britain's Prince William and Kate Middleton married at Westminster Abbey on Friday in a sumptuous show of British pageantry that attracted a huge world audience and breathed new life into the monarchy. Hundreds of thousands of people waving flags and banners poured down London's Mall Boulevard to cheer the newlyweds as they kissed twice on the balcony of Buckingham Palace.
Pak tests Hatf-8 cruise missile RAWALPINDI: Pakistan, Friday conducted a successful Flight Test of the indigenously developed Air Launched Cruise Missile, Hatf-VIII (Ra'ad). The missile test was conducted as part of the continuous process of improving the technical parameters of the weapon system. According to ISPR, the Ra'ad Missile, with a range of over 350 km, has been developed exclusively for launch from
Inter-Bank Currency Rates Symbols
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TT Clean
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Australian $ 92.27 Canadian $ 88.94 Danish Krone 16.82 Euro 125.46 Hong Kong $ 10.88 Japanese Yen 1.031 Saudi Riyal 22.56 Singapore $ 68.94 Swedish Korona 14.09 Swiss Franc 96.85 U.A.E Dirham 23.03 UK Pound 140.91 US $ 84.57 Weather Forecast Cities
Islamabad Karachi Lahore Faisalabad Quetta Rawalpindi
92.49 89.15 16.86 125.76 10.91 1.033 22.61 69.10 14.12 97.08 23.09 141.24 84.75
Max-Temp Min-Temp
37°C 33°C 40°C 39°C 30°C 37°C
20°C 24°C 24°C 23°C 16°C 23°C
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Aerial Platforms. This missile system has enabled Pakistan to achieve a greater strategic stand off capability on land and at sea. 'Cruise Technology' is extremely complex and has been developed by only a few countries in the world. The state of the art Ra'ad Cruise Missile with Stealth Capabilities is a Low Altitude, Terrain Hugging Missile with high maneuverability, and can deliver nuclear and conventional warheads with great pin point accuracy. The successful launch has been appreciated by the President, the Prime Minister of Pakistan, and Chairman Joint Chiefs of Staff Committee who have congratulated the scientists and engineers on their outstanding achievement. -Agencies
Then they went back in, the glass doors closed and the spectacle was over. "This kind of royal wedding happens just once in a lifetime, so I thought I had to come and see," said Seong Jiyong, a South Korean student studying English. "The monarchy is like our Hollywood, the movies, for us," said Californian Diane Weltz. Middleton, who wore a laced ivory colored dress with a long
train for the ceremony, became the first "commoner" to marry a prince in close proximity to the throne in more than 350 years. The 29-year-old, whose mother's family has coal mining roots, has brought a sense of modernity to the monarchy and helped restore popularity to an institution tarnished by the death of William's hugely popular mother Princess Diana in 1997. Fans from Asia to the United See # 11 Page 11
Says not included in PPP-PML-Q talks
New economic plan underway, says PM MULTAN: Prime Minister Syed Yousuf Raza Gilani has made it clear that the leadership of Pakistan Muslim League (Q) is holding talks with President Asif Ali Zardari and he would be taken into confidence after conclusion of talks. "I was not included in talks with leadership of PML-Q but mine and policies of President are same", he said this while talking to media after inaugurating Qasim Beela Road Project in Multan on Friday. The Prime Minister refused to answer when asked about alliance between PPP and PML-Q in future. PPP, the Premier said, believes in politics of reconciliation because political stability would bring economic stability in the country. Politics of reconciliation was in better interest of nation and country, he said, added he has invited all political forces including opposition for dialogue to strengthen country's economy. Government, he said, is working on new economic programme. He claimed that no body has
objection over formation of Saraiki Province, adding all political parties would be consulted in this respect. He made it clear establishment of Sariaki province was part of PPP's manifesto. When asked about US drone strikes in the country's tribal areas, the Premier said, we are trying our best to convince Obama administration to halt drone strikes in tribal belt. Diplomatic channels are being used in this respect. We do not war with US but we would be able to convince US through a well thought strategy, he added. No compromise would be made on national interest, he said. All decisions would be taken keeping in view the national interest, he added. As far as the terrorism is concerned, the whole nation is united against this menace, he said. Replying to a question about US policy over Afghanistan, the Premier said, it is a right of Afghan government to devise its own policy. Pakistan would See # 12 Page 11
Pakistan exports 0.22mn T wheat ISLAMABAD: Private exporters have made large sales of new crop wheat from Pakistan in the past week totaling 200,000 to 220,000 tonnes, traders said on Friday. Sales were made to a series of buyers in countries including the United Arab Emirates, Tanzania, Malaysia and Vietnam at price between $300309 per tonne. Sales were largely for nearby shipment. "The country's harvest, which started this month, is looking
considerably larger than expected and it looks like the country will be in the export market for the coming weeks," one trader said. Pakistan's government forecast the wheat crop at around 25 million tonnes this year, up from 23.8 million tonnes in 2010 and well above its annual consumption of 22 million tonnes. Asian traders on Friday also reported aggressive selling by Pakistani wheat exporters. Reuters
ISLAMABAD: President Asif Ali Zardari Friday reiterated that business community and leading entrepreneurs of the country should come forward in addressing the economic challenges facing the country, and also ensuring that the economic policies remain unchanged with the change in the governments. He said that the government firmly believes in taking all stakeholders on board to tackle the critical economic issues. The President said this during a presentation given by Pakistan Business Council on the proposed economic reforms at Aiwan-e-Sadr Friday. The meeting was attended by Makhdoom Amin Fahim, Federal Minister for Commerce, Dr Abdul Hafeez Shaikh, Federal Minister for Finance, Syed Naveed Qamar, Minister for Privatization, M Salman Faruqui, Secretary General, Hina Rabbani Khar, Minister of State for Foreign Affairs. Dr Nadeem-ul-Haq, Deputy Chairman Planning
Trade talks with Pakistan positive: India LAHORE: Indian Trade Secretary Dr Rahul Khullar has said that trade level negotiation with Pakistan was positive and it has been decided to move forward by forgetting the bitter ties of the past. Talking to media at Wagah border after visiting Pakistan here on Friday, Indian Trade Secretary Dr Rahul Khullar has said that visit to Pakistan was successful and it has been decided to move forward by forgetting the past while hurdles in trade ties would be removed very soon. He further said that India could cooperate with Pakistan in fields of power, petroleum and other fields. Dr Rahul said that issues related to bilateral trade and visa policy would be settled amicably and the people would hear good news very soon in this connection. He further said that it would take 6 months to start work on pending issues. -Online
Over 200 arrested in combing ops KARACHI: Rangers arrested more than two hundred people during a search operation carried out in different areas of Baladia Town on Friday. In the wee hours of Friday the Rangers launched search operation by shutting the entrance and exit passages of Baladia Town; Rangers searched each and every single house. They arrested more than two hundred people and started interrogations. Residents of the town faced difficulties during search operation. People going to their works and children remained in the houses though Rangers didn't confirm any big achievement. See # 10 Page 11
Commission, M Saleem Mandviwalla, Chairman BOI, Senator Syeda Sughra Imam, Federal Secretaries of concerned departments, and other senior officials. Pakistan Business Council was represented among others by Asad Umar, Chairman, Kamran, Y Mirza, Abdul Razzaq Dawood, Ali S Habib, Hussain Dawood, Iqbal Lakhani, Zakir Mehmood, Dr Asad Sayeed, Dr Ijaz Nabi, Dr Ishrat Hussain, Farooq Rehmatullah and Shams Kassim Lakha. The President said that it was a collective responsibility of all to work together and join hands to overcome the challenges of the current economic situation and to put the economy back on track. Discussing the economic reform agenda of the Government, the President said that the Government would continue to pursue economic reform agenda despite difficulties and challenges facing it. The President identified five
major areas for reforms which he said needs to be addressed on urgent basis to promote economic welfare of all the citizens of Pakistan. The five major areas that came under discussion included better macro-economic management, energy, poverty alleviation, education and regional trade. The President also called upon the businessmen to make consortiums of the leading entrepreneurs to enter into a public private partnership to run various state enterprises with management control. The President also reiterated his call for maximum involvement of private sector and to adopt public-private partnership models in every mega developmental projects to take maximum advantage of it. The President thanked members of Pakistan Business Council in seeking a consensus to address the critical economic issues. He said that the invaluable suggestions and recommendations of the Business See # 7 Page 11
Planning Comm reviews circular debt
'Clearing debt to end power crisis' ISLAMABAD: The government has decided to clear major portion of the outstanding circular debt next week to help enhance power generation and bring down the overall energy shortfall facing the country, a top official of the Planning Commission said. "The government would pay a considerable portion of circular debt which amounts to Rs210 billion, to overcome the ongoing crisis," Member Energy of Planning Commission, Shahid Sattar told APP here. He attributed the current energy shortfall to the delay in the oil shipment of Pakistan State Oil (PSO) and severity of circular debt issue. "The current surge in the power shortfall was due to delay in PSO oil shipment and the circular debt that has led to fall in power generation,"
Shahid Sattar said. The member Energy was optimistic that the power shortfall during the peak hours of summer would not go beyond 4000 megawatt as measures are underway to tap full the potential of power generation units. He was of the view that currently all the existing power generation potential was not being tapped due to shortage of oil and gas adding that this problem would be overcome as the government was seriously working on resolving the issues. Giving details about the new growth strategy, Shahid said that it envisages greatly enhanced private sector investment in the energy sector by reforming and strengthening economic governance, transparency and deregulation of the sector. He said that government See # 8 Page 11
Gas plan for urea, power cos sought ISLAMABAD: Federal Minister for Water and Power Syed Naveed Qamar asked the power and fertiliser sectors representatives, ministries of water and power and petroleum to work out a viable solution to ensure continuity of gas and economic operation of both the fertiliser and power plants. He made these directions while presiding over a meeting on gas supply issue to the power sector. The meeting was attended by secretaries of water and power, petroleum, MDs of PPIB, SSGC, SNGPL, DG Gas, CEOs of four IPPs, and senior officials of Pepco, ministry of water and power and petroleum. Minister said that provision of gas supply to the power sector is priority of the govern-
ment as country needs maximum power generation in the summer season. However, fertiliser sector is also very important to produce fertiliser to meet the agricultural requirements. He said that maximum production of fertilisers will help to boost the agriculture economy. Unfortunately, there is shortage of gas and all the sectors are already facing cut in their gas supplies. There is need to find out ways and means to accommodate both the sectors, he added. Earlier, the power and fertiliser sector representatives briefed the meeting on their point of views, current supply and demand of gas to their plants and its affect on their production. See # 9 Page 11
2 Dr Haq links economic growth with proper management ISLAMABAD: Proper management and appropriate utilization of country's assets is imperative to lead the country towards sustainable economic growth, said Deputy Chairman Planning Commission. "If we manage our assets properly, the economy could perform very well," Dr. Nadeem-ul-Haq said in an interview, adding proper utilization of assets would build confidence and attract investment and the country will not need to depend foreign aid, or on IMF funding. Dr Haq said, Commission was working on new growth strategy, aimed at bringing efficiency in the management and changing overall mindset regarding growth. "Efficiency and productivity is the main focus of the new growth strategy," he asserted.
He opined that Pakistan was lagging behind in development due to static planning. "Planning is a dynamic and continuous process which should take into account the changing trends". He said that there was a dire need to change the mindset by making people understand new growth strategies instead of remaining struck to the old ones, adding, "unless we change the mindset, we can not make any progress." He said that under the growth strategy, the people would have to focus on the output of projects instead of their cost. He said though there was a need for further development of infrastructure, but the exiting facilities were also not being used to their full potential. "We have launched and completed many projects
in every sector but these projects should be utilized properly for the country's development." He stressed that the economic growth should be enhanced by to 7-8 per cent, which would generate employment for the younger generation. The growth should be sustainable and not for a period of one or two years. "High growth rate can be achieved for one or two years but we need to sustain it," Nadeem-ul-Haq added. He said that the country needed deregulation to enhance market access adding that job of government should be to regulate business and not to do business. To a question, he said that energy reforms were under way and the government had already taken steps to overcome the energy prob-
lem and would taken more measures in future. He said that electricity generation was not the only solution of the problem but overcoming energy losses could help mitigate the shortfall also. He regretted that in the past no attention was focused on the development of the cities to provide better civic services and facilities to the people. To another question, he said that every country needed the support of International Monetary Fund and Pakistan was no exception for economic growth. Yet to another question, Dr. Nadeem-ul-Haq said that as many as Rs350 billion would be allocated for the socio-economic development in the federal Public Sector Development Programme (PSDP) 2011-12.-APP
Etihad to launch a new coach service
SECP grants licence to 25 non-profit assns
KARACHI: Etihad Airways, the national airline of the United Arab Emirates, has teamed up with Gerry's International, one of Pakistan's leading aviation groups, will launch a dedicated coach service in Pakistan from May 2, for Etihad guests travelling between Allama Iqbal International Airport in Lahore and the cities of Sialkot and Faisalabad. The new daily service will be provided by two 16-seat luxury coaches and the coach operating schedule will be coordinated with the arrival and departure timings of the Etihad Airways flights at Lahore's Allama Iqbal International Airport. -PR
ISLAMABAD: The Securities and Exchange Commission of Pakistan(SECP) granted licenses to 25 non-profit associations under Section 42 of the Companies Ordinance, 1984, from January to April as compared to 16 licences issued in corresponding period of previous year. The sector-wise breakdown shows that 8 associations will be working in the social services sector, 7 in education, 6 in healthcare, 2 in charity and one each in the arts and science. In the social services sector, Benazirabad Industrial Estate Development and Management Company, with the Sindh government as its main sponsor, obtained license to work for planned and rapid industrialization. It will take over the Benazirabad Special Industrial Zone, Benazirabad (Nawabshah). Another association, i.e., Omar Asghar Khan Centre for Development has been set up by the late Omar Asghar Khan's wife to develop human and institutional resources.
Munter attends Pashtun tribal jirga in Quetta
Staff Correspondent
‘Masses problems could be resolved under national govt’ Staff Correspondent ISLAMABAD: Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Friday that the problems of the people could be resolved amicably if all the parties are part of the national government. Talking to media persons
outside the Parliament House, the minister said Shaheed Benazir Bhutto always adopted the reconciliation and dialogue process and never closed the doors for the political opponents to resolve the issues. "Flexibility is must in politics and dialogue is the best way to strengthen the democratic system in
the country," she said. She said it was the need of the hour that all the parties should keep their differences aside and join hands to solve problems facing the masses. She said in past the decision were taken in drawing rooms while the PPP leadership was running the government according to norms of democracy.
Staff Correspondent QUETTA: U.S. Ambassador Cameron Munter, during his first trip to Balochistan, participated in a Pashtun tribal jirga in Quetta Friday. The jirga was convened by Nawab Ayaz Jogezai, a Pashtun leader and convener of the Pashtun ulas qaumi jirga. It brought together 16 Pashtun tribal leaders from Balochistan. The jirga discussed issues of mutual interest, including economic development and security. Nawab Ayaz Jogezai explained the working mechanisms of the jirga to the U.S. Envoy. Ambassador Munter was pleased to attend in this important tribal gathering. "Balochistan is a proud province with a remarkable history, wonderful people, and strong traditions.
Akzo Nobel-ICI consider demerger of paints business KARACHI: The Board of Directors of ICI Pakistan Limited has received a proposal from its ultimate holding company Akzo Nobel N.V. to restructure its interest in ICI Pakistan Limited. The proposal envisages separation of the Paints Business into a separate legal entity (Akzo Nobel Pakistan Limited) through a scheme of demerger. This proposal is contingent upon approval by the Board of ICI Pakistan Limited, its shareholders and the High Court of Sind. -PR
KARACHI: The British Deputy High Commissioner, Francis Campbell, hosted a reception on the occasion of The Queen's 85th Birthday at his residence. Picture shows British High Commissioner, Adam Thomson, Speaker Sindh Assembly Nisar Ahmed Khuhro, Deputy Speaker Syeda Shehla Raza, ministers Faisal Sabzwari, Engr, Muhammad Rafiq, former City Nazim, Syed Mustafa Kamal and other guests.-Staff Photo
ACCA calls for fair, stable tax system Staff Reporter KARACHI: The ACCA Pakistan Friday organised a pre-budget discussion in Karachi with an aim to contribute its research and insight towards healthy fiscal measures in the country. The discussion was led by Komail Abbas Badami, Member Fair taxation subcommittee, Khawaja Tanweer, Commissioner Revenue, Division FBR, Ahmed Chinoy, President Memon Federation and Chief of CPLC Karachi and Muzammil Aslam
EVP, Chief Economist and Head of Business Development JS Group. ACCA Pakistan advocates a taxation system that is fair and stable and has a minimal compliance burden. This year, ACCA also draws policy maker's attention to the agenda 'Encouraging Enterprise The Growth of Business' In order to promote private sector investment in Pakistan, the panel proposed that the corporate tax rate should be gradually reduced to 34% and tax of listed companies to 33%. Further, the withholding tax on divi-
dends should be reduced from 10% to 7.5% to encourage investment. On the front of indirect taxation, the panel concluded that general rate of Sales Tax should be reduced to a maximum of 15%, which would increase consumption, resulting in demand-led growth. The panel also propounded that government reconsiders implication of Sales Tax on the import of machinery and raw materials and were apprehensive that the move can potentially damage economic development.
Saturday, April 30, 2011
ISLAMABAD: President Asif Ali Zardari acording his assent by signing the “The Pakistan Institute Of Fashion Design Bill, 2011 “into a law during a special ceremony held at the Aiwan-e-Sadr. -Staff Photo
Narcotics cases trial
US embassy completes workshop for prosecutors ISLAMABAD: The US Department of Justice and the US Embassy's Office of Narcotics Affairs completed a week-long "Case Preparation and Trial Skills" workshop for Pakistani prosecutors. The programme examined how prosecutors screen, analyze, and handle cases received from the police -- from the initial case preparation to the verdict. According to a press release issued here on Friday, 27 prosecutors from the KhyberPaktunkhwa participated in the workshop. They studied the basic rules of case analysis, evidence, advocacy techniques, trial strategy, witness preparation, oral argument, and witness examination. Two US government federal judges, two US government prosecutors, two American police officers, and three Pakistani defense counsel provided instruction. Case analysis focused on issues commonly found in prosecutors' practice -- suggestive or inadequate identification, gaps in police investigations, and missing documentation. On the last day, all participants participated in full mock trials, thereby putting all learned skills together into one effort. The training, under the Directors of each Provincial Prosecution Service, was also provided to Punjab and KPK prosecutors. It will be provided to Sindh counterparts next month. Three KPK prosecutors will travel to the Department of Justice Training Academy in the U.S. for further specialized trial skills training. The Office of Narcotics Affairs also sponsors programmes in law enforcement reform and training, equipment, and infrastructure developments to all Pakistani law enforcement organizations. -NNI
Noted writer A Hamid passes away LAHORE: A Hamid, 83, a prolific Urdu writer, who wrote over 200 books, passed away in Lahore on Friday. Abdul Hameed, known as A Hameed, was born in 1928 in Amritsar. He passed his secondary education in Amritsar, passed intermediate in Pakistan as a private candidate and join Radio Pakistan as an assistant script editor. After working some years for Radio Pakistan, he joined Voice of America. His first collection of short stories, Manzil Manzil, got a great acclaim from the readers and made him a well recognised romantic short story writer. Apart from writing short stories and novels, he wrote columns for national newspapers. He wrote many programmes for Radio and TV which had got tremendous acknowledgement from listeners and viewers.-INP
LCCI welcomes Pakistan-India power trade Staff Correspondent LAHORE: The Lahore Chamber of Commerce and Industry (LCCI), Friday, while appreciating fifth round of constructive and productive Secretary-level talks between Pakistan and India, urged representation/consultation of LCCI in Joint Working Groups and task-specific committees formed to resolve issues relating to Pak-India trade. In a statement issued here, the LCCI President Shahzad Ali Malik said that though the establishment of Joint Working Group to facilitate business visas is a step in right and desired direction but it would be much wiser if the idea of Common Trade Area at Wagha/Attri is implemented and promoted. "If a Common Trade Area is made available at Wagha/Attari, a number of businessmen would not be needing visa at some earlier stage." The LCCI President said that both the governments would have to work hand in
hand with the business community to build confidence, dispel misunderstandings and allay misapprehensions. He said that agreement to replace positive list with negative list is very welcoming as through the negative list it would be easier for both the sides to identify the items hurting the local industry in the two countries. The LCCI President said that for the first time in the history of Pak-India talks, a structural approach has been adopted to resolve trade-related issues. The LCCI President urged both the governments to ensure all future meetings should be result-oriented in the larger interests of people of two countries. He said that intention showed by the both countries to explore the possibility of entering into a mutually agreed Preferential Trade Agreement (PTA) to further promote bilateral trade by extending tariff concessions would go a long way and yield positive results for both Pakistan and India. He urged the Indian
government to become positive to resolve the all outstanding political disputes to create more conducive environment for not only the trade but for the issue of Afghan Transit Trade. He said that opening of branches of banks of Pakistan and India in each other countries was a longstanding demand of the business community. India has taken appreciable step by agreeing to facilitate opening branches of Pakistani banks in India but Indian banks should also start their operations in Pakistan. The LCCI President also welcomed the decision of undertaking a new initiative to enable trade of electricity between both countries. He said that Pakistan was running well short of energy and Indian cooperation to this regard could narrow the gap between demand and supply of electricity. He said that group of experts from both sides should examine feasibility, scope and modalities as soon as possible.
KARACHI: Chairman AKD Group Aqeel Karim Dhedhi, Ex-President KCCI Anjum Nisar speaking at a seminar on "Investment Opportunities in Pakistan" held at Iqra University Defence View Campus. -Staff Photo
3
Saturday, April 30, 2011
US dollar index hits 3-year low with euro expected at $1.50
Previous Day
Month-end flows seen tilted toward dollar selling NEW YORK: The US dollar sank to a three-year low against a basket of currencies on Friday, with the euro seen reaching $1.50 on expectations the Federal Reserve will maintain its easy money policy while the European Central bank raises interest rates. Higher interest rates in Europe compared to the United States have undermined support for the dollar, boosting the euro by 11 per cent so far this year. "There is no fundamental reason for investors to buy dollars aside from the possibility that it is now undervalued," said Kathy Lien, director of currency research at GFT Forex in New York. The euro was buoyed by stronger-thanexpected euro-zone inflation data that increased the chance of another European Central Bank interest rate rise sooner rather than later.
The euro last traded at $1.4848, up 0.2 per cent on the day, having hit a high for the day of $1.4878, just below a 17month peak of $1.4882 hit on Thursday on trading platform EBS. But the euro ran into selling and could struggle ahead of a reported options barrier at $1.4900. Resistance was expected at $1.4906, a peak from Dec. 7 2009, ahead of a substantial barrier at $1.5000. Beyond $1.5000, the key target was the 2009 high of $1.5145. US economic data released on Friday showed US consumer spending rose as households stretched to cover the higher
cost of food and gasoline as inflation posted its biggest year-on-year rise in 10 months.
The US dollar index, which tracks its performance against a basket of major currencies, fell to 72.834, a three-year low. It last traded at 73.055, down 0.1 per cent. "The recent extremeness of the dollar's move could attract value hunters, but with a number of key event risks next week posing a threat to the US dollar, we don't
expect a material recovery." The US Labor Department will publish monthly US payrolls and unemployment data next week. However, analysts at Citigroup said dollar bearishness should persist. International currency trade was thinned by the London holiday for the United Kingdom's royal wedding. The Swiss franc was buoyed by upbeat comments from the Swiss National Bank's chairman and an above-forecast Swiss sentiment survey. The Swiss franc rose around 0.8 per cent on the day to hit a record high of 0.8653 francs per dollar on EBS. The euro was last down 0.6 per cent at 1.2862 francs. Against the yen, the dollar was down 0.1 per cent at 81.42 yen, having matched a one-month low of 81.27 hit earlier this week. -Reuters
Peso crosses intervention Indian rupee climbs line; more Asian gains seen to near 3-week high SINGAPORE: The Philippine peso broke through a major resistance line kept by the central bank on Friday, while its Asian peers extended recent gains as investors continued to chase higher-yielding currencies. Emerging Asian currencies could climb further in coming weeks, with the dollar ailing and on expectations that the regional policymakers may allow more appreciation to fight inflation. Earlier, some currencies such as the South Korean won and the Malaysian ringgit retreated as investors covered dollarshort positions. But they recovered the losses after China fixed the yuan's mid-point at a record below 6.50 per dollar for the first time, which suggests China's
determination to contain rising prices. In April, the Taiwan dollar, the won and the Singapore dollar rose nearly 3 per cent against the dollar. Emerging Asian currencies are expected to stay firm next month, although they may suffer from bouts of dollar-short covering and interventions by regional currency authorities to slow down their appreciation, analysts and dealers said. "Positioning is very aggressive in terms of short USD positions, but a sustained bounce can only really come about from two factors -- a shift towards tighter US Fed policy or more hawkish rhetoric and/or a clear improvement in the fiscal outlook," said Jonathan Cavenagh, currency strategist at Westpac in
Singapore. "Neither of which look like occurring in the near term." Wile the Asian currencies do not appear to have a clear brake yet, risks of intervention or other measures by the foreign exchange authorities to slow down their currencies' gains are also growing, analysts said. On Thursday, Seoul warned it may impose fresh capital controls as the won has jumped nearly 6 per cent just in four months. "We see Asian authorities are not in the bandwagon of competitive appreciation play, as externalities are a bigger risk now versus six months ago," Suresh Kumar Ramanathan, regional rates and foreign exchange strategist for CIMB Investment Bank in Kuala Lumpur. -Reuters
Yuan breaks past 6.50/dlr to close higher
Swiss franc hits record high vs weak $
SHANGHAI: China's yuan breezed past 6.50 per dollar on Friday, surpassing the psychologically important level for the first time and raising expectations that Beijing will continue to let the currency strengthen quickly to battle stubbornly high inflation. While the 6.50 per dollar level is not significant from a technical standpoint, Chinese media and economists are likely to seize on it as evidence of how far the government has come in allowing it to appreciate since its landmark currency reforms in 2005. It has gained 27.5 per cent since then. Traders seized on momentum created by the central bank through its daily mid-point settings, pushing the currency to as high as 6.4892 per dollar in spot market trade on Friday before closing at 6.4910, meaning the currency has now gained 5.2 per cent against the dollar since it was unleashed from a de facto peg last June. "This is a signal they will continue appreciation. We can't see any signs they will actually speed up appreciation, but they are likely to keep to the pace that we're seeing now," said Liu Dongliang, analyst at China Merchants Bank in Shenzhen.
The People's Bank of China (PBOC) guided the yuan up by 0.9 per cent in April compared with 0.4 per cent in March, accelerating its appreciation at a time when the dollar has fallen to three-year lows against a basket of currencies. The PBOC set the tone for Friday's trade by setting the yuan's mid-point -- the level from which dollar/yuan may rise or fall 0.5 per cent during the day -- at another fresh high, after a string of record high fixings over the last few weeks. Policymakers in Beijing have made it increasingly clear that they are willing to use the currency as one way of fighting inflation, which hit a 32-month high of 5.4 per cent in March, by helping to buffer the impact of imported commodity prices. Traders in offshore yuan forwards have also begun to bet on more gains in recent weeks. At the end of March, implied yuan appreciation over the next year stood at just 1.7 per cent, but that has risen to 2.9 per cent now. A continued rise in the yuan would probably be welcomed as well in other Asian emerging markets, as it would put them at less of a disadvantage in trade if they let their own currencies rise. -Reuters
LONDON: The Swiss franc rose to a record high against a broadly weak dollar on Friday, buoyed by upbeat comments from the Swiss National Bank head and above-forecast growth data. The dollar fell 0.75 per cent to 0.8663 francs on the EBS trading platform to drop below its previous low of 0.8669 francs, with volatility likely exacerbated by holiday-thinned trade. SNB Chairman Philipp Hildebrand earlier said inflationary risks were beginning to emerge in Switzerland due to rising oil and commodity prices, while the economy was growing more vigorously than expected despite the strength of the franc. Swiss National Bank Chairman Philipp Hildebrand said that despite the strength of the franc, which shot up some 15 per cent against the euro last year, the domestic economy was growing more vigorously than expected. The SNB still sees growth of roughly 2 per cent this year, slipping from 2.6 per cent in 2010. Switzerland's leading growth barometer, the KOF, also rose unexpectedly in April, figures showed. -Reuters
Aussie set to end month with hefty gains as US$ crumbles WELLINGTON/SYDNEY: The Australian dollar consolidated near recent highs against a broadly weaker US currency on Friday and within spitting distance a huge chart objective at $1.1000, having enjoyed its best month so far this year. The Aussie paused at $1.0900 after a run of new 29-year highs struck this week, having gained an impressive 5.6 per cent in April. "You have to remember that the Aussie has rallied from $1.0350, so a bit of profit-taking on a Friday afternoon is to be expected," said Robert Rennie, chief currency strategist at Westpac Institutional Bank. Yet, Rennie doesn't anticipate a serious pullback given the US dollar's downtrend. Support is seen at $1.0835 and resistance at the week's peak of $1.0947, just before $1.1000, a major psychological barrier. Some analysts are calling for the explosive Aussie to top $1.1500 within the next two months. Next week's focus will be on the Reserve Bank of Australia's May policy meeting with markets expecting rates to remain on hold at 4.75 per
cent for a sixth month. Still, analysts think that gathering inflation pressures will nudge the central bank into tightening by the end of the third quarter, and perhaps again by year-end. In contrast the Reserve Bank of New Zealand this week said rates were likely to stay at record lows for some time to come, and complained about the high kiwi. "The Reserve Bank comments about the strong currency and not changing interest rates... are causing the kiwi to pause around this area, which is what you would expect," said Derek Rankin of advisory firm Rankin Treasury. He said $0.8100 to $0.8150 was the key area the currency needed to work through ahead of an assault on a 26-year high of $0.8215. Consequently, the Aussie was near a onemonth high of $1.3643, having gained 1.4 per cent this week. Against a trade weighted basket of major currencies, the kiwi is at its lowest in three weeks. Next week sees NZ first quarter wages and jobs, with expectations for modest wage and job growth, and slight fall in jobless rate, although the data will reflect February's earthquake. -Reuters
MUMBAI: The Indian rupee strengthened to a near threeweek high on Friday, supported by global dollar weakness and inflows of the greenback through robust overseas corporate borrowings, but traders said its rise was limited by defence-related payments. The partially convertible rupee ended at 44.21/22 per dollar after touching 44.2100, a level not seen since April 11. The local unit had closed at 44.43/44 on Thursday. "There is psychological resistance at 44.20 and we need to see if it breaks convincingly," said Pram Patil, a foreign exchange dealer at State Bank of Mauritius. "A lot depends upon how the euro moves from here on since a lot of players are assuming the dollar will continue to weaken," Patil said. "The bias of the rupee is largely towards strengthening. The only worry is dollar demand for defence payment that seems to be continuing for a long time," said a dealer at a
large co-operative bank. Dollar selling by a large software exporter aided the rupee, but there was also month-end dollar demand from importers, particularly domestic oil refiners, traders said. Oil refiners are the biggest buyers of dollars in the local forex market. The one-month onshore forward premium was at 26.50 basis points (bps) versus 25.50 bps at previous close. The three-month was steady at 82 bps and the one-year was at 317.75 bps compared with 311.50 bps. The one-month offshore nondeliverable forward contracts were quoted at 44.46, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange were at 44.4600, 44.4650, 44.4625 respectively, with total volume at $6.27 billion. Reuters
Rouble rallies as cbank hikes key rates MOSCOW: Russia's rouble rallied to its strongest level against the dollar since late 2008 on Friday after the central bank hiked all key interest rates, paving the way for more speculative inflows from yield-hungry investors. The central bank surprised the market with the broad tightening move, signalling that it is ready to allow the rouble to appreciate further as authorities seek to keep inflation under control ahead of elections next year. It raised the deposit rate and the refinancing rate by 25 basis points apiece, to 3.25 and 8.25 per cent respectively. The rouble firmed 0.63 per cent to 27.31 versus the dollar after briefly touching 27.25, its strongest since December 2008. Against the euro, the rouble gained 0.3 per cent to 40.63. "By raising the refinancing rate, the central bank compelled the market to square long positions in foreign currencies," said Pyotr Neymishev, a dealer at Otkritie bank. Versus the euro-dollar basket, used by the central bank to mon-
itor exchange rates, the rouble strengthened 0.4 per cent to 33.34 after touching its strongest point since early March of 33.21. In the latest week Russia-dedicated funds attracted $226 million compared with $79 million a week earlier, EPFR data showed. Meanwhile, China gained $446 million, India saw $30 million of inflows and Brazil saw $21 million of outflows. Analysts say higher interest rates will add fuel to carry trade operations, where lowyielding currencies such as the US dollar are borrowed to fund investment in higher-yielding rouble assets. -Reuters
Source
Events
NZD
Trade Balance
JPY
Bank Holiday
Actual
Forecast
464M
244M
Previous
CNY
HSBC Final Manufacturing PMI
193M
EUR
German Retail Sales m/m
GBP
Bank Holiday
-2.1%
0.2%
-0.4%
EUR EUR CHF
CPI Flash Estimate y/y
2.8%
2.7%
2.7%
Unemployment Rate KOF Economic Barometer
9.9%
9.9%
9.9%
2.29
2.20
CAD
GDP m/m
-0.2%
0.0%
0.5%
USD
Core PCE Price Index m/m
0.1%
0.1%
0.2%
USD
Employment Cost Index q/q
0.6%
0.5%
0.4%
USD
Personal Spending m/m
0.6%
0.6%
0.9%
USD
Chicago PMI
67.6
68.7
70.6
USD
Revised UoM Consumer Sentiment
69.8
70.0
69.6
51.8
51.8
2.25
Currencies Rate Name
As per 22.00 PST Ask High
Bid
Low
EUR-USD
1.4845
1.4846
1.4880
1.4808
USD-CHF
0.8682
0.8684
0.8747
0.8646
GBP-USD
1.6661
1.6665
1.6689
1.6627
USD-CAD
0.9507
0.9511
0.9548
AUD-USD
1.0947
1.0951
1.0964
1.0885
EUR-JPY
120.6800
120.7300
121.1200
120.6500
EUR-GBP
0.8908
0.8936
0.8901
EUR-CHF
1.2887
1.2892
1.2959
12853.0000
GBP-JPY
135.4600
135.5400
135.9800
135.2400
CHF-JPY Gold
0.8911
0.9484
93.6400
93.6900
94.0200
93.2200
1543.5500
1543.9600
1545.0300
1532.1000
Major Central Banks Overview Central Bank
Next Meeting
Last Change
Bank of Canada
May 31, 2011
September 8, 2010
Current Interest Rate 1%
Bank of England
May 5, 2011
March 5, 2009
0.50%
Bank of Japan
May 20, 2011
December 19, 2008
0.10%
European Central Bank
May 5, 2011
April 7, 2011
1.25%
Federal Reserve
June 22, 2011
December 16, 2008
0.25%
Swiss National Bank
June 16, 2011
March 12, 2009
0.25%
The Reserve Bank of Australia
May 3, 2011
November 2, 2010
4.75%
Division of National Bank of Pakistan (NBP) KARACHI, April 29,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A.
84.80
84.60
84.38
U.K.
141.24
140.91
140.52
EURO
125.76
125.46
125.09
CANADA
89.15
88.94
88.71
SWITZERLAND
97.08
96.85
96.60
AUSTRALIA
92.49
92.27
92.03
SWEDEN
14.12
14.09
14.05
JAPAN
1.04
1.04
1.03
NORWAY
16.18
16.14
16.10
SINGAPORE
69.10
68.94
68.76
DENMARK
16.86
16.82
16.78
SAUDI ARABIA
22.61
22.56
22.50
HONG KONG
10.91
10.88
10.86
KUWAIT
309.26
308.53
307.72
MALAYSIA
28.52
28.45
28.38
NEWZEALAND
68.01
67.85
67.67
QATAR
23.29
23.23
23.17
U.A.E.
23.09
22.03
22.97
KR WON
0.08
0.08
0.08
THAILAND
2.83
2.83
2.82
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for April 29, 2011
0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years 30--years
KASB 12.40 12.65 12.80 13.05 13.10 13.30 13.46 13.60 13.80 13.95 13.98 14.00 14.03 14.04 14.05 14.07 14.09 14.09 14.40 14.60 14.85
BMA 12.25 12.50 12.80 13.00 13.05 13.15 13.45 13.58 13.77 13.95 13.97 14.00 14.05 14.04 14.06 14.07 14.08 14.11 14.35 14.65 14.85
ELXIR 12.30 12.45 12.80 13.03 13.06 13.25 13.45 13.60 13.80 13.95 13.97 13.99 14.02 14.08 14.09 14.04 14.03 14.10 14.42 14.68 14.87
GSL 12.40 12.70 12.90 13.07 13.12 13.25 13.48 13.66 13.80 13.95 14.00 14.00 14.03 14.05 14.05 14.06 14.08 14.10 14.50 14.80 15.00
ICSL 12.30 12.45 12.83 13.00 13.10 13.25 13.43 13.53 13.81 13.96 13.97 14.00 14.00 14.05 14.07 14.06 14.08 14.10 14.45 14.70 14.90
JSCM AvgRate 12.30 12.33 12.40 12.53 12.80 12.82 13.00 13.03 13.10 13.09 13.20 13.23 13.48 13.46 13.60 13.60 13.80 13.80 13.95 13.95 14.00 13.98 14.01 14.00 14.04 14.03 14.05 14.05 14.08 14.07 14.08 14.06 14.07 14.07 14.10 14.10 14.45 14.43 14.65 14.68 14.90 14.90
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
0.96 0.95 0.83 0.77 0.91 0.09
-0.65 -0.44 -0.04 0.26 -0.45 0.50
0.95 0.56 0.93 0.89 0.78 0.75
0.92 0.44 0.88 0.91 0.54 0.73
0.43 0.94 0.73 0.89 0.91 0.84
0.92 0.92 0.49 0.42 0.85 0.11
USD/CAD USD/CHF -0.37 -0.91 -0.88 -0.75 -0.82 0.12
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)29/04/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.50
13.00
12.55
13.05
12.75
13.25
13.15
13.40
13.40
13.65
13.60
14.10
13.70
14.20
13.90
14.40
JSBL
12.10
12.60
12.25
12.75
12.70
13.20
13.10
13.35
13.55
13.80
13.60
14.10
13.70
14.20
13.80
14.30
ASPK 12.25
12.75
12.50
13.00
12.80
13.30
13.10
13.35
13.40
13.65
13.50
14.00
13.70
14.20
13.80
14.30
CIPK
12.25
12.75
12.40
12.90
12.70
13.20
12.90
13.15
13.40
13.65
13.60
14.10
13.70
14.20
13.80
14.30
DBPK 12.20
12.70
12.30
12.80
12.50
13.00
12.95
13.20
13.35
13.60
13.50
14.00
13.65
14.15
13.75
14.25
FBPK 12.30
12.80
12.45
12.95
12.70
13.20
13.25
13.50
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
FLAH 12.15
12.65
12.40
12.90
12.70
13.20
13.15
13.40
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
HBPK 12.25
12.75
12.40
12.90
12.75
13.25
13.15
13.40
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
HKBP 12.40
12.90
12.50
13.00
12.75
13.25
13.15
13.40
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
NIPK
12.25
12.75
12.50
13.00
12.70
13.20
13.10
13.35
13.30
13.55
13.40
13.90
13.50
14.00
13.60
14.10
HMBP 12.25
12.75
12.40
12.90
12.75
13.25
13.20
13.45
13.45
13.70
13.60
14.10
13.75
14.25
13.85
14.35
SAMB 12.25
12.75
12.30
12.80
12.80
13.30
13.20
13.45
13.45
13.70
13.60
14.10
13.75
14.25
13.85
14.35
MCBK 12.25
12.75
12.40
12.90
12.70
13.20
13.20
13.45
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.30
12.80
12.50
13.00
12.70
13.20
13.10
13.35
13.40
13.65
13.60
14.10
13.70
14.20
13.80
14.30
SCPK 12.40
12.90
12.50
13.00
12.65
13.15
13.10
13.35
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 11.80
12.30
12.25
12.75
12.50
13.00
13.15
13.40
13.40
13.65
13.50
14.00
13.65
14.15
13.90
14.40
AVE
12.76
12.43
12.93
12.72
13.22
13.14
13.39
13.44
13.69
13.59
14.09
13.70
14.20
13.81
14.31
12.26
-0.94 -0.88 -0.93 -0.77 -0.89 -0.34
4 Saturday, April 30, 2011
The Financial Daily International
Dissecting Higher Education
Vol 4, Issue 173
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
Pak Navy under attack The consecutive attacks on Pakistan Navy buses in Karachi have become a cause of serious concern. As usual the government is terming these actions of extremists groups and announced to take stern action against the culprits, if caught. Thanks that this time attacks were not termed suicidal. It has been said that all the three attacks were carried out by using remote-controlled devices in the cantonment areas. Karachi has been a target of militant groups, both ethnic and religious. The basic objective of the groups is to destabilize Pakistan both ideologically as well as economically. The killing and sabotage has been going on in the name of sectarian conflict, ethnic intolerance and acts of various mafias. But attacks on military, navy and air force installations have been very few, though police and rangers' installations have come under attacks repeatedly. Historically, soon after the attacks on such sensitive and strategic installations reports come that some group has accepted the responsibility of these attacks. However, one fails to understand what the intelligence agencies are doing? They insist on that the attacks on strategically important installations have been executed by al Qaeda and its affiliates, or much talked about Tehrik-e-Taliban Pakistan. This does not free them from their responsibilities. Rounding up of these elements is the responsibility of the agencies and their persistent failure highlights that such elements are playing the role of double agents. Earlier in 2002, eleven French engineers and technicians who were working on construction of a submarine for the Pakistan Navy were killed in a terrorist attack and it remains a mystery who conducted that attack. One tends to reach the conclusion that there are specific reasons for attacking naval staff, to bring down their morale. According to some conspiracy theories attention of Pakistan Navy is being distracted for various reasons that include ongoing activities of the Somali pirates, attempts to disrupt movement of ships in the Indian Ocean and above all attempts by the mercenaries to enter Pakistan though its over 1200 kilometer coastal line, particularly through Balochistan. It is in the knowledge of intelligence agencies that some anti-Pakistan and anti Muslim groups have established their bases in Balochistan. These groups undertake sabotage activities and then spread the disinformation that the acts have been committed by Baloch nationalists groups demanding creation of an independent Balochistan. These groups talk about growing sense of deprivation among Balochs only to force oil and gas drilling companies and mining companies not to operate in the province. Such groups hardly have any love for the Balochis but fuel anti Pakistan sentiments only to control these assets. They know Balochistan is the largest province by areas and also has huge natural resources but the lowest population. Let Baloch remember that once these foreign elements get control over Balochistan, their fate may not be very different from the 'Red Indians' of America.
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.
Muhammad Arif owadays devolution of Higher Education Commission is under debate. After promulgation of 18th amendment it was supposed to come but the way it has come has made every one astonished. On the issue, two visible groups are in the field. One is supported by the government itself and some of its allies in fragmented form. The other group is led by the opposition and educationists. With support of media the second group is gaining weight mostly coming from the students and civil society. The point scoring of political parties and some circles have made the issue somewhat confusing. The architect of HEC are also in the field with their simple argument that Pakistan is way behind in its human resource development and HEC with some defined objectives can provide some qualified people in the efforts to overcome this deficiency. After leaving SBP as Head of one of its department and serving Arif Habib Investments as Head of Research, the writer has privilege to teach in three
N
To remove above pitfalls the Higher Education Commission (HEC) was constituted in 2002 in place of University Grants Commission. It was supposed to be the primary regulator of higher education in Pakistan. It also facilitated the development of higher educational system in Pakistan. Its main purpose was to upgrade universities in Pakistan to be centers of education, research and development. It also provided hundreds of doctoral scholarships for education abroad every year. In numbers game the creation of HEC has had a positive impact on higher education in Pakistan. Its achievements can broadly be enumerated as follows a) Established the Digital Library in Pakistan: Every student in every public sector university today has access to 45,000 textbooks research monographs from 220 international publishers as well as to 25,000 international research journals - regarded as one of the best digital libraries anywhere in the world. b) Tripled University enrollment from 135,000 in the year 2003 to 400,000 in 2008. c) Promoted research, resulting in huge expansion of international research publications from Pakistan
To find the answers of funding for health and education sectors we have to strengthen provincial and local bodies system that normally interacts with the people at large. They are required to be given powers to generate their own resources and do capacity building in uplift of Health and education sector from lower to higher level. For this constitutional amendments have to be made. Other countries do have such models that can be followed in Pakistan. universities, one belonging to Public Sector and two belonging to private sector. Since the writer had some experience of giving lectures at some foreign Universities like Bangkok University, Shanghai University and NIBAF at Pakistan, so teaching was not a new experience. With this flavor, when the writer entered in to the arena of higher education in Pakistan, It was stunning to see that it is as polluted as other departments of Pakistan are. First condition for any University is to operate with knowledge (academic as well applied), deal with openness and finally not to compromise on quality. These three elements are mostly missing in the Universities in Pakistan. Far most the main missing link is that they are far behind on the application side that can only be created by designing studies curriculum incorporating case studies and issues relevant to Pakistan. Like other sectors in Pakistan, education is also divided in to one for higher class i.e. for 5% population (English medium) and the other for common man (yellow schools). This goes in the same way upward. Further this segmentation goes with those institutions who are not attached with military establishment and those who are attached with military establishment. In Public sector they are being run like institutions that have the only responsibility of providing certificates and Degrees (even some have been found fake). No value addition is coming from these universities In Private sector they are being run like a salesman based on some brand name. Even these brands are some time exchanged without seeing that whether they are carrying with them any knowledge or not. Big business owners are running some of these universities giving them a treatment as they give to their housing or business project. Quality is not the issue any more but the salesmanship becomes the main objective of running these Universities. However in spite of these pessimistic views GIK, LUMS, IBA, Zabist, KASBIT are setting some good examples but obviously these small numbers can not to fill in the needs of 180 million people of Pakistan. I remember an incident when I offered my services to a university (some students had contacted me to do so). No evaluation, no discussion but a clerk sitting on the other side simply replied that they would look in to my CV. If unfortunately you offer your services without any cost than you become further suspicious. Obviously I have to request that 'aflatoon' (person of high caliber) to give back my CV. So one can see that how these Universities are hunting their teaching staff.
from only 600 research papers /yr in 2003 to 4300 research papers in 2008. d) During the 56 year period (1947-2003) not a single Pakistani university was ranked among the top 600 universities in the world. Today 5 of Pakistani universities are in this category with the National University of Science and Technology (attached with military establishment and received major share of funding from the HEC) standing at a very respectable number 350. e) Four year undergraduate program was introduced so that our degrees can get internationally recognized.. f) About 5000 Ph.D. level scholarships awarded for study in technologically advanced countries (largest program in developing world) and some 3,000 indigenous Ph.D. scholarships have been awarded. The world's largest Fulbright Scholarship program (US$150 million) launched with joint funding (HEC/USAID). g) Fifty one new universities and degree awarding institutes and 18 campuses of existing universities established during (2003-2008). Now it is 2011 and we have to move forward from 2008. A glance over number of universities controlled by the HEC shows that number of universities charted by the Federal Government are 20 (Public Sector) and 3 (private sector). Universities chartered by the Punjab Government are 18 (public sector) and 19 (private sector). Universities chartered by the Sind Government are 12 (public sector) and 22 (private sector). Universities chartered by the Pakhtunkhwa are 14 (public sector) and 9 (private sector). Universities chartered by the Baluchistan Government are 6 (Public Sector and 2 (private sector). Whereas in Azad Jammu and Kashmir the universities chartered are 2 (public sector) and 1 (private sector). This reveals that most of the universities are chartered by the provincial governments. Basically HEC is a regulator for the universities with additional responsibility of channelizing funds to these universities. Now since new NFC award with further funding to the provinces have come in to force, hence this additional responsibility can be handed over to the provinces. Pakistan is a federating unit and one can say that most of its systems need to be devolved. World wide trend is now towards devolution. Take example of united State which is highly devolved though it is governed through Presidential system .Even its Central Bank i.e. Federal Reserve Bank is composed
of 12 federating units with local banks on its board. So you can not mimic any system in total but that needs to be devised as per your ground realities. To avoid further frictions one thing is sure to be changed and i.e. that instead of making HEC as a show piece of education of Pakistan, its Universities should be structured to represent higher education of Pakistan. However for coordination as provided in the constitution, a Standardization Commission can be formed. So the matter is not very confusing as is being portrayed. This would create provincial harmony in expanding education and in making notable institutions accessible to the far flung areas of Pakistan. As regards research papers and PhDs, they should be encouraged but there should be an oversight that how relevant these papers are with the local conditions and how they are benefiting to the country in response to the investment made on them from the tax payers' money or through any grant received from abroad In Pakistan's name. In case the matter of HEC comes before Supreme Court hearings than they should also probe in to the question of quality and relevancy of these Papers with Pakistan's conditions. The budget estimates for HEC are estimated around Rs 23-30 billion per year for the next three years. Some circles suggest Rs 8-10 billion as further funding to start with new initiatives. But where from the money can be procured is nobody's guess. In a country with an expenditure of more than 70% of its budget on defense and debt servicing how one can focus on education or health facilities. But these sectors have to come on priority if Pakistan has to survive. To find the answers of funding for health and education sectors we have to strengthen provincial and local bodies system that normally interacts with the people at large. They are required to be given powers to generate their own resources and do capacity building in uplift of Health and education sector from lower to higher level. For this constitutional amendments have to be made. Other countries do have such models that can be followed in Pakistan. Key words for this article are to make efforts to make universities of Pakistan as centre of education and excellence instead of confining this role to the HEC.
‘
Basically HEC is a regulator for the universities with additional responsibility of channelizing funds to these universities. Now since new NFC award with further funding to the provinces have come in to force, hence this additional responsibility can be handed over to the provinces
Britain's royal family in affordable indulgence Robert Cole
B
ritain's royal family is an affordable indulgence. If taxpayers stopped funding the clan destined to be led by William Windsor and Catherine Middleton, they would escape a 1.14 billion pound liability. For some, this is a burden the cash-strapped state could do without. In fact, it is a national treasure. True, the royal wedding will lead to some chunky one-off costs. First, there is the extra public holiday. Assuming UK GDP is evenly spread across the 260 working days of a nor-
mal year, that's 5.9 billion pounds in lost output. The direct cost of the celebration - comprising everything from couture to security - may add another 50 million pounds. Both these figures look too high, however. Some of the costs are sunk and others are shared. Much of the lost GDP will be recovered. The financial focus should instead be on the ongoing overhead the monarchy creates for the UK state. The latest report of the Royal Trustees shows that the Queen and her entourage were awarded 39.9 million pounds in the year to March 2011. This figure has been quite sta-
ble, rising by just 1.6 percent a year over the past decade. Assume these payments stretch into perpetuity (ignoring inflation), apply a discount equivalent to the yield on 10-year UK government bonds, and the present value of this liability is 1.14 billion pounds. Put another way, that's less than 19 pounds for every British citizen. With national debt at 1.1 trillion pounds and all manner of public services now being squeezed, cutting off the royals would represent a small symbolic saving. But the UK economy would miss the tourism and other income generated from the Windsor
brand. Besides, another head of state would still cost money. Even elected ones do not come free with afternoon tea. The British royal family is an anachronism that would not be invented if it did not exist. But for the global entertainment value alone regardless of whether the Windsors appreciate that people are laughing at them as well as with them - the monarchy earns its place in the national portfolio. Pageantry as represented in apogee by this royal wedding should be preserved, paid for from a controlled budget, and enjoyed.-Reuters
5
Saturday, April 30, 2011
Australian shares close 1pc down on strong Aussie KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,966.67 12,057.54 90.87 0.76 109.52
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,279.27 3,267.99 -11.28 -0.34 5.85
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,633.09 2,687.52 54.43 2.07 0.04
Major Gainers
Symbol
Close
Change
ULEVER 5,045.40 COLG 725.00 ILTM 236.43 APL 385.38 SRVI 172.34
30.16 25.07 11.25 9.01 8.20
Major Losers
Symbol
Close
Change
NESTLE 3,504.87 RMPL 2,724.80 WYETH 912.00 SIEM 1,059.29 BATA 454.71
-57.01 -19.60 -14.86 -8.21 -4.41
Top 5 Volume Leaders
Symbol SILK LOTPTA ANL PTC FFC
Close Vol (mn) 2.71 16.72 5.39 16.83 141.91
8.73 8.53 7.12 6.18 5.24
Active Issues Plus Minus Unchanged
116 158 86
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Feb 11) 807 Urea Offtake (Feb 11) 413 Urea Price (Rs/50 kg) 1,195 DAP Offtake (Jan to Feb 11) 128 DAP Offtake (Feb 11) 69 DAP Price (Rs/50 kg) 4,041
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Feb 11) 53,036 Sales (July 10 to Feb 11) 52,067 Production (Feb 11) 5,883 Sales (Feb 11) 6,954
INDUS MOTOR CO Production (July 10 to Feb 11) 33,832 Sales (July 10 to Feb 11) 32,991 Production (Feb 11) 4,754 Sales (Feb 11) 4,698
HONDA ATLAS CAR Production (July 10 to Feb 11) 10,834 Sales (July 10 to Feb 11) Production (Feb 11)
10,444 1,555
Sales (Feb 11)
1,665
DEWAN FAROOQ MOTORS Production (July 10 to Feb 11) Sales (July 10 to Feb 11) Production (Feb 11) Sales (Feb 11)
186 133 0 20
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (March 25,11) 5,046,487 Advances (March 25,11) 3,118,444 Investments (March 25,11) 2,202,311 Spread (Feburay 11) 7.51%
OIL MARKETING CO (000 tons) MS (Jul 10 to Jan 11) MS (Jan 11) Kerosene (Jul 10 to Jan 11) Kerosene (Jan 11) JP (Jul 10 to Jan 11) JP (Jan 11) HSD (Jul 10 to Jan 11) HSD (Jan 11) LDO (Jul 10 to Jan 11)) LDO (Jan 11) Fuel Oil (Jul 10 to Jan 11) Fuel Oil (Jan 11) Others (Jul 10 to Jan 11) Others (Jan 11)
PRICES (Ex-Refinery) MS (1 Apr 11) MS (1 Mar 11) MS % Chg Kerosene (1 Apr 11) Kerosene (1 Mar 11) Kerosene % Chg JP-1 (1 Apr 11) JP-1 (1 Mar 11) JP-1 % Chg HSD (1 Apr 11) HSD (1 Mar 11) HSD % Chg LDO (1 Apr 11) LDO (1 Mar 11) LDO % Chg Fuel Oil (1 Apr 11) Fuel Oil (1 Mar 11)
Oil, fertiliser stocks take 100-Index above 12k level Nawaz Ali KARACHI: Buying in oil and fertiliser stocks on higher international oil prices and hopes of better corporate results allowed the Karachi Stock Exchange to end the week on a bullish note on Friday above the psychological barrier of 12,000 points The benchmark KSE-100 index gained 90 points to close at 12,057 points, KSE-30 index jumped by 99 points to close at 11,716 points and KSE all-share index rose by 58 points to close 8,397 points. "Investors turned bullish in
energy stocks on the back of strong international oil prices hovering around USD113/bbl", said Murtaza Jafar equity dealer at JS Global Capital. The day started with 13 points up and then gains kept on mounting as investors took position in oil stocks. Fertiliser stocks too remained in limelight as investors hoped some better then expected corporate results by the fertilizer companies. The index at about 10:26 a.m. touched its highest level of the day of 12,134 points (+ve 168). Thereafter, the first half of the day ended with 148
South East Asian stocks
Moderate volume ahead of 3-day weekend BANGKOK: Some Southeast Asian stock markets ended marginally higher in moderate volume on Friday, led by financials and big-caps, as a weakening US dollar pushed investors towards regional assets. Most share markets added to their gains in April as risk appetite in general rose, with Thai stocks racking up almost $1 billion in inflows on the month, the highest level since September, although trailing Indonesia's $2 billion. Thailand's SET index edged up 0.11 per cent, reversing early losses, and Indonesia's index also recouped early losses to end 0.3 per cent higher. Stocks in the Philippines and Vietnam gained 0.95 per cent and 1.5 per cent respectively. Singapore's Straits Times Index inched down 0.16 per cent, with Malaysia's index flat. Singapore, Malaysia, Thailand and Vietnam will be closed on Monday for market holidays. Because of the holidays, some dealers expect subdued trading next week, especially as there are also concerns about possible further steps by China to cool its economy. Regional equities may also take a breather after a good run in April. "There may not be very much going on next week due to holidays. Technically, this region seems to be pulling down a little more for the short term," said Bangkokbased Warut Siwasariyanon, head of research at Finansia Syrus Securities. "For the longer-term trend,
easy US monetary policy will remain supportive of inflows and regional assets," he said. Jakarta hit a record high in the month while Thailand set a 15-year peak. The gains in April were led by a 6.5 per cent rise in Philippine stocks. According to Thomson Reuters data, Jakarta saw $70 million in inflows on Friday, boosting its inflows for the month to $2 billion, including $1.7 billion on April 8, which involved big lots of shares in Berau Coal Energy. "The market was flat today with a mixed performance in the banking and commodity sectors. Every stock move was based on individual issues such as first-quarter results," said John Teja, director of Ciptadana Securities, in Jakarta. Bank Mandiri climbed 1.4 per cent, recouping early losses. After the close, Indonesia's biggest lender reported its first-quarter net profit rose 89 per cent. In Singapore, DBS Group Holdings rose as much as 1 percent after Southeast Asia's biggest lender posted a record quarterly profit thanks to falling bad-debt charges and a surge in trading income. Among weak spots, Thai food exporter Charoen Pokphand Foods dropped 1.7 per cent due to profit taking, dealers said. Its shares were among top performer for the month as strong global demand for food boosted its earnings outlook. Foreign investors sold a net $24 million of Thai shares on Friday, the exchange said. Reuters
ANNOUNCEMENTS 1,300 183 96 14 795 129 4,044 614 38 5 5,007 680 98 15
Rs 59.35 53.88 10.15% 68.95 63.31 8.91% 70.88 63.54 11.55% 75.02 66.53 12.76% 65.27 60.96 7.07% 56,777 53,252
Seoul shares fall 0.7pc as techs lose ground
Company F. Nat.Equities Nishat Chun Power East West Life Assur Network Mic Bank Shaheen Insurance Stand.Chart.Bank(CONSOLIDATED)
Period 3rd Qtr 3rd Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr Stand.Chart.Bank(UN-CONSOLIDATED) 1st Qtr WorldCall Telecom 1st Qtr Aruj Garments 3rd Qtr Ashfaq Textile 3rd Qtr Bilal Fibres 3rd Qtr Climax Eng. 3rd Qtr Constellation Mod 3rd Qtr Dar-es-Salaam 3rd Qtr Elahi Cotton 3rd Qtr Equity Modaraba 3rd Qtr Feroze 1888 Mills 3rd Qtr Ghazi Fabrics 3rd Qtr Globe Tex.(O.E) 3rd Qtr Globe Textile 3rd Qtr Hala Enterprise 3rd Qtr Idrees Textile 3rd Qtr Pak Petroleum 3rd Qtr Pak Services 3rd Qtr Pervez Ahmed 3rd Qtr Premium Textile 3rd Qtr Quetta Textile 3rd Qtr Regent Textile 3rd Qtr Sana Industries 3rd Qtr Searle Pakistan 3rd Qtr Sind Fine Textile 3rd Qtr Thatta Cement 3rd Qtr Transmission Engg. 3rd Qtr ZahidJee Textile 3rd Qtr Siemens Pak Half Year
Div/Bon/Right 140%(R) 10%(i)(D) -
PAT (Rs in mn) -167.671 1532.656 2.13 -3.358 7.401 1,211.10 1,153.83 -182.323 9.317 13.805 13.584 -16.273 2.23 -16.545 -0.561 7.096 90.798 240.888 2.891 -17.977 -24.444 35.347 24,350.86 535.635 16.14 190.203 760.088 -3.049 54.423 235.614 -0.887 -69.359 -14.553 292.34 214.503
EPS(Rs) -2.92 4.1722 0.04 -0.11 0.37 0.31 0.3 -0.21 1.51 1.97 0.96 -4.91 0.35 -2.07 -0.43 0.14 0.77 7.38 0.62 -1.09 -6.47 1.96 20.38 16.47 0.21 30.86 58.47 -0.64 9.9 7.69 -0.39 -0.87 -1.24 8.59 26.01
ing worth $2.68 million on Friday. Investor participation was on the lower side as 109.5 million shares exchanged hands during the day which was 3.9 million shares more as compared to a turnover of 113.4 million shares on Thursday. Silkbank was the top traded stock with 8.73 million shares followed by Lotte Pakistan with 8.53 million shares and Azgard Nine with 7.12 million shares. Out of total 360 active issues; 158 advanced and 116 declined while 86 issues remained unchanged.
points up. Bulls then managed to stay there at the floor during the second half too but as it was the last trading day of the week, investors preferred to book profits at higher levels reducing the gains made earlier. Though, gains were eroded due to selling at higher levels, index managed to close the day above 12,000 points. The rally was led by oil stocks mainly the oil giant OGDC which closed Rs5.94 up at Rs145.66. Other oil stocks i.e. Pakistan Oilfields, Pakistan State Oil, Attock Petroleum too ended upwards.
Apart from higher international oil prices, according to an expert positive development on one of the wells of OGDC brought interest in exploration and production companies. However, selling pressure was seen in Pakistan Petroleum after it's lower then expected corporate result announced. PPL announced its corporate earnings for 9MFY11, posting profit after tax of Rs24.35 billion (EPS: Rs20.38). Foreign investors were mainly on the buying side as according to NCCPL data, offshore investors did a net buy-
Europe stocks edge up
China shares post worst week of 2011
PARIS: European stocks inched higher on Friday, rallying for a seven straight session and posting their best monthly performance since December, but volumes were light due to a UK public holiday. The FTSEurofirst 300 index of top European shares closed 0.3 per cent higher at 1,156.81 points, gaining 2.7 per cent for April, while the euro zone's blue chip Euro STOXX 50 index ended up 0.2 per cent at 3,011.25 points. Germany's DAX index added 0.5 per cent and France's CAC 40 gained 0.1 per cent. The volume on the two benchmark indexes represented respectively 80 percent and 68 percent of their 90-day average. Despite the recent rally sparked in part by strong corporate results, volumes have been too low to confirm the return of a solid upward trend, technical analysts said, while charts show Germany's DAX ripe for a pull-back. The benchmark index, home of bellwethers such as Siemens and SAP, has surged 16 per cent since mid-March and was flirting with "overbought" territory on Friday. Its relative strength index (RSI) at 69.7 with 70 and above considered "overbought" -coupled with a slow stochastic, an indicator of short-term trends, showed the index was poised for a retreat. The specter of a strong euro hitting the region's exporters was also creeping back into investors' minds on Friday, with dollar-sensitive EADS and STMicroelectronics falling 1.1 and 0.9 per cent respectively. "With euro at $1.50, the euro zone will slip back into recession in the third quarter of this year. Investors will then realise the damage caused by a 'killer' euro," said Marc Touati, head of economic research at Parisbased Global Equities. Despite lingering concerns over the euro zone debt crisis that have hammered the region's sovereign debt market in April, the single currency hit a 16-month high of $1.4881 this week. While the euro flirts with levels not seen since late 2009, and might remain high for a while, a number of fund managers and strategists see the region's equity market hitting the pain threshold soon. Philippe Nahum, head of Paris-based B-Capital, said the euro's rally has caught a number of companies off guard. "But the stocks are not affected all in the same way. European firms producing in the euro zone are penalised because they lose competitiveness ... But others which produce outside the euro zone and sell in the zone will be the winners." Shares in German carmaker Daimler lost 1.7 per cent as its first-quarter results failed to impress investors. Reuters
HONG KONG/SHANGHAI: Hong Kong shares fell for a fourth straight session on Friday and China's markets suffered their worst weekly performance this year as investors cut back on risk heading into a long weekend, fearing Beijing may announce further policy tightening measures. Defensive sectors outperformed with utilities the top performing stocks in Hong Kong in April, suggesting market players were uncertain about the nearterm direction of the benchmark index. The Hang Seng finished down 0.4 per cent, bringing its weekly loss to 1.7 per cent. It has fallen over 3 per cent since hitting a 2011 high of 24,468.6 on April 8, though it is still up nearly 3 per cent for the year to date. China's main stock index snapped a five-day losing streak, eking out a 0.9 per cent gain, but ended the week down 3.3 per cent on fears that Beijing may announce more policy over the Labour Day long weekend. China's central bank has often announced major policy changes just before or during holidays. Caution pushed turnover in Shanghai to a three-month low of 93 billion ($14.3 billion) on the day with analysts wary of reading too much into Friday's slim gains. "Today is a technical rebound after a 5-day decline," said Chen Shaodan, analyst at China Development Bank Securities in Beijing. "If the index cannot find support from fresh fund inflows or news, it has the potential to fall." Chinese banking stocks were hit by profit-taking after strong first-quarter results from
the largest players, with Agricultural Bank of China down 3.2 per cent in Hong Kong and off 0.7 per cent in Shanghai. AgBank is Hong Kong's top performing large-cap banking stock this year, up 17 per cent compared with a 3 per cent gain for the financial sub-index. China's top banks posted market-beating profits on the back of interest rate hikes but some analysts raised concerns that banks could be forced into raising more funds if regulators hike capital requirements. UTILITIES SHINE Utility companies led the charge on expectations of huge power demand in China this summer with market players anticipating shortages to drive up prices. An Hui Wenergy rallied by its 10 per cent daily limit and Huadian Power International jumped 9.8 per cent. In Hong Kong, Huaneng Power rose 2.6 per cent while Power Assets, previously Hong Kong Electric Holdings, rose 1.1 per cent. Steel makers outperformed after China Iron & Steel Association (CISA) said steel demand was expected to rise from 2011 to 2015. Almost all steelmakers listed in the Shanghai and Shenzhen markets rose, while Henan Hengxing Science & Technology jumped its 10 per cent daily limit and Wuhan Iron and Steel rose 2.7 per cent. Hong Kong's first yuan-denominated IPO tumbled 9 per cent on its Friday debut as investors turned their noses up at the low yields offered by billionaire Li Ka-shing's Hui Xian real estate investment trust. Reuters
US stocks mid-day
Dow eyes best month since Dec, Caterpillar rallies NEW YORK: Industrials led the Dow higher on Friday following a strong quarter and outlook from Caterpillar, and the index looked set to notch its best month since December. The blue-chip index is up 4 per cent for the month, while the S&P has risen 2.7 per cent and the Nasdaq is up 3.2 per cent, also on track for its best month of the year, though it edged lower in April's final session on disappointing news from Microsoft Corp and Research in Motion. Heavy machinery maker Caterpillar Inc climbed after reporting a fivefold increase in quarterly profit and raising its full-year forecast. "This is another sign of how manufacturing is leading the economy," said Eli Lustgarten, senior research analyst for the industrial machinery sector at Longbow Securities in St. Louis. "We think Caterpillar is fairly valued, but you have to be impressed with what they delivered. No matter what, this will be a good year for them." The stock was the top gainer on the Dow, advancing 2.5 per cent to a new all-time high of $115.46 while the S&P industrial sector was the index's top-performing sector, up 0.4 per cent. Caterpillar is up more than 20 per cent so far this year while the industrial sector is up 11 per cent. Microsoft slumped 4 per cent to $25.62 and was the Dow's biggest loser a day after it reported a dip in quarterly Windows sales, mirroring a recent downturn in personal computers. US-listed shares of RIM shed 14 per cent to $48.75 after cutting its first-quarter forecasts. The Dow Jones industrial average was up 61.65 points, or 0.48 per cent, at 12,824.96. The Standard & Poor's 500 Index was up 1.82 points, or 0.13 per cent, at 1,362.30. The Nasdaq Composite Index was down 2.10 points, or 0.07 per cent, at 2,870.43. The dollar held near a threeyear low against a basket of currencies and was on track for its biggest weekly fall since mid-January, with more losses possible on Friday due to end-of-the-month demand to sell dollars. Reuters
Indian shares post worst weekly loss MUMBAI: Indian shares declined for the third month out of the four in 2011, and ended lower for the fifth straight session on Friday, as investors exercised caution on expectations the central bank may adopt a hawkish approach at its policy on Tuesday. They also posted their worst weekly loss since late February, after foreign institutional investors (FIIs) sold Indian equities for the first three sessions this week. Traders expect the market to take cues from the Reserve Bank of India's action next week, but ruled out a sell-off by foreign funds. Financials were the top losers as the market expected the RBI to raise key short-term rates by at least 25 basis points, which would mark the ninth increase since mid-March last year, to curtail persistently high inflation "The RBI may hike rates by 25 basis points, but a very harsh action is not likely," said
Sandeep Sabharwal, CEO of portfolio management services at brokerage Prabhudas Lilladher. "A bigger move will not be of much help as inflation is largely driven by commodity prices.' The banking sector index slipped 1.7 per cent. The 30-share BSE index slipped 0.81 per cent, or 156.06 points, at 19,135.96 points, with 21 components losing ground. It declined 2.4 per cent for the week, taking losses for the month to 1.6 percent. The 50-share NSE index dropped 0.6 per cent to 5,749.50. More than two shares declined for every share that advanced in the broader market on a volume of 711 million shares on NSE, higher than their 30-day average daily volume of 645 million shares. "I don't think there is a directional sell off by FIIs. We are just seeing some correction after the steep run up in March," Sabharwal said. "People are jit-
tery before the RBI policy." Foreign funds, who had been net sellers in January and February, have bought a total of $3.2 billion over the past eight weeks. "With Fed's easy policy stance, inflows are likely to be good," he added. Leading lenders State Bank of India, ICICI Bank and HDFC Bank fell between 0.3 per cent and 1.8 per cent. Mortgage lender Housing Development Finance Corp shed 1.5 per cent. Energy giant Reliance Industries rose 1.2 per cent after falling 6.6 per cent over four previous sessions. State-run explorer Oil & Natural Gas Corp slipped 2.8 per cent, after gaining nearly 5 per cent over the previous three sessions. World equities as measured by the MSCI index edged 0.1 per cent higher by 1032 GMT, while its emerging markets index slipped 0.1 per cent. Reuters
6
Saturday, April 30, 2011
Market
KSE 100 Index
Symbols
Volume
109,520,594
Value
5,296,540,604
Trades
63,384
Advanced Declined Unchanged Total
Current High Low Change
116 158 86 360
All Share Index
12,057.54 12,135.63 11,966.67 h90.87
Current High Low Change
8,397.81 8,452.07 8,339.05 h58.76
OIL AND GAS
Paid up Cap(mn)
Company Attock Petroleum Attock Refinery BYCO Petroleum
High
Low
Close Chg
Last 60 days High Low
Volume
9.01
393824
391.50
321.00
300
853
4.17 126.48
129.40 126.56 127.11
0.63
1585875 129.40
800
8.67
4.33 106.50 4.81 349.80
8.95
8.50
8.64 -0.03
107.50 105.70 105.90 -0.60 356.50 346.95 347.90 -1.90
98.25
-
-
-
-
8.20
-
-
-
-
19167
131.90
99.46
31
- 23.43
-
454172
356.50
254.00
200
9.86 139.72
146.68 139.75 145.66
5.94
4579733 173.50
128.21
55
11950
7.77 212.48
216.50 211.11 212.43 -0.05
2003322 217.25
190.10
2365
7.24 325.59
330.99 325.60 328.40
2542722 333.00
350 47.11
P.S.O
1715
Shell Gas LPG
226
Shell Pakistan
685
85.66
4.65 273.81 -
24.70
7.49 212.15
86.50
84.00
25.93
24.50
24.93
-
-
- 30.00
-
90
20B 50.00
-
277.09
255
-100.00
-
110.50
83.00
-
-
-
-
1.06
389980
294.49
265.00
80
- 50.00
-
0.23
12038
32.97
23.04
-
-
-
-
9138
218.99
186.83
120
-
-
-
213.00 210.00 210.76 -1.39
Open 697.52 Turnover 20,901 P/E (x) 5.07 Paid up Cap(mn)
Company Pak Int Cont. Terminal PNSC
1092 1321
20,415.39 20,592.98 20,321.42 h93.97
PE 6.37 8.50
Open 70.05 30.00
High 70.98 29.48
High Low 702.78 685.31 Total cos Defaulter cos 4 2 P/BV (x) ROE (%) 1.29 25.53 Low 69.05 28.99
Close Chg 69.28 -0.77 29.00 -1.00
Close 687.18 Listed cap 3,242.17 mn Payout (%) 11.08
Change -10.34 Market cap 11,627.72 mn Div Yield (%) 2.19
Last 60 days High Low
Volume 8847 12054
76.25 36.00
63.00 28.99
Open 1,153.59 Turnover 109,898 P/E (x) 3.92 Company
Company
Paid up Cap(mn)
PE
High Low 1,881.05 1,836.28 Total cos Defaulter cos 36 6 P/BV (x) ROE (%) 3.15 35.00
Open
High
Low
Agritech Limited 3924 22.00 21.40 BOC (Pak) XD 250 7.16 94.93 Clariant Pak 341 4.98 163.38 Dawood Hercules 4813 3.65 62.45 Descon Oxychem Ltd. 1020 11.79 8.10 Dewan Salman 3663 2.58 Dynea Pak 94 3.57 10.98 Engro Corporation Ltd 3933 8.82 195.01 Engro Polymer 6635 - 12.37 Fatima Fertilizer 22000 - 12.70 Fauji Fertilizer 8482 8.73 141.27 Fauji Fert.Bin Qasim 9341 6.34 42.44 Ghani Gases Ltd 725 11.44 13.64 ICI Pakistan XD 1388 8.72 154.91 Ittehad Chemical 360 3.07 22.01 Lotte Pakistan 15142 4.67 16.89 Mandviwala 74 1.21 Nimir Ind Chemical 1106 11.78 2.79 Shaffi Chemical 120 28.75 2.19 Sitara Chem Ind 214 2.48 97.47 Sitara Peroxide 551 5.83 19.12 United Distributors 92 - 14.54 Wah-Noble 90 5.16 36.35
22.47 96.95 164.00 63.60 8.24 2.65 11.15 198.40 12.55 13.04 145.21 42.85 13.97 157.49 23.11 17.11 1.37 2.89 2.99 101.00 19.42 15.54 37.90
21.25 95.00 160.00 62.00 7.96 2.49 10.26 195.04 11.80 12.70 141.25 42.21 12.75 154.30 21.00 16.65 0.90 2.66 2.25 97.40 18.70 13.69 36.00
Close Chg 22.00 95.11 163.07 62.98 8.02 2.50 10.89 197.46 12.02 12.75 141.91 42.38 13.04 156.89 21.12 16.72 1.20 2.71 2.30 100.06 18.83 15.08 36.50
0.60 0.18 -0.31 0.53 -0.08 -0.08 -0.09 2.45 -0.35 0.05 0.64 -0.06 -0.60 1.98 -0.89 -0.17 -0.01 -0.08 0.11 2.59 -0.29 0.54 0.15
Close 1,850.38 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 4991 7402 51171 274962 603395 916665 1504 1482123 342905 795645 5239829 4742851 789284 421587 530 8533081 6412 1126230 3780 1125 352475 9887 1101
Change 8.61 Market cap 385,791.86 mn Div Yield (%) 5.43
24.90 98.35 206.79 294.00 9.60 3.39 11.50 238.50 13.95 13.60 154.49 43.89 14.49 172.00 29.85 17.36 1.84 3.40 2.99 118.00 19.99 15.54 38.85
20.00 82.00 140.00 61.25 6.00 2.26 9.50 189.00 11.56 10.75 108.00 37.86 10.43 138.10 21.00 14.05 0.57 1.84 1.55 90.78 11.81 12.07 34.31
2010 Div BR (%) (%)
% Change 0.47 5-Day High 1,850.38 5-Day Low 1,815.07 2011 Div BR (%) (%)
60 135 25B 50 300B 15 60 20B - 27.5R 130 25B 65.5 - 12.50 175 5 5 5 25 5B 50 -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,040.99 Turnover 10,270 P/E (x) 5.29 Company
High Low 1,060.17 1,030.79 Total cos Defaulter cos 4 1 P/BV (x) ROE (%) 0.39 7.47
Close 1,048.65 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
1.76 6.81
15.09 42.75 38.51
15.80 42.50 38.60
15.10 41.10 38.00
15.50 0.41 41.15 -1.60 38.50 -0.01
3798 1017 5455
Century Paper Pak Paper Product Security Paper
Change 7.67 Market cap 2,893.37 mn Div Yield (%) 4.78
Last 60 days High Low 17.50 46.20 39.90
13.85 35.17 34.00
2010 Div BR (%) (%) 2533.33B 50 -
% Change 0.74 5-Day High 1,069.16 5-Day Low 1,040.99
Paid up Cap(mn)
Agriautos Ind Atlas Battery Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki XD Sazgar Engineering
High Low 1,159.46 1,136.93 Total cos Defaulter cos 19 4 P/BV (x) ROE (%) 0.99 25.35
PE
Open
High
Low
144 4.44 101 5.69 626 9.28 1087 56 4.79 598 4.57 450 200 6.72 1428 786 7.60 823 15.75 150 1.20
73.37 212.88 149.83 1.85 197.14 24.31 3.65 3.65 9.88 220.57 70.00 24.50
72.10 214.50 152.00 1.97 206.99 24.49 3.89 3.33 9.89 221.00 71.00 24.50
72.10 213.01 146.00 1.70 195.00 24.00 3.60 3.33 9.51 220.00 67.19 24.00
Company
Company
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe XD International Ind Siddiqsons Tin
PE
565 1.96 675 555 400.00 1199 18.91 785 25.71
Open 29.13 2.05 12.68 52.00 9.00
High 29.75 2.15 12.53 52.50 9.00
High Low 1,073.39 1,055.14 Total cos Defaulter cos 7 1 P/BV (x) ROE (%) 1.07 33.10 Low 28.90 2.00 11.71 52.00 9.00
Close Chg 28.98 2.05 12.00 52.00 9.00
-0.15 0.00 -0.68 0.00 0.00
Close 1,057.18 Listed cap 3,596.11 mn Payout (%) 30.91
Last 60 days High Low
Volume 228971 12317 43960 14823 2000
29.99 2.95 14.90 54.50 9.45
25.67 1.80 11.71 45.81 8.51
2010 Div BR (%) (%) 30 40 7.5
% Change -0.32 5-Day High 1,060.57 5-Day Low 1,042.74
186 87 287 94 990 365 750 200 324 109 84 50 414 48 165 107 57 119 211 695
Close Chg
-
72.10 214.11 148.81 1.70 195.55 24.01 3.60 3.56 9.85 220.00 69.93 24.50
-1.27 1.23 -1.02 -0.15 -1.59 -0.30 -0.05 -0.09 -0.03 -0.57 -0.07 0.00
Close 1,147.85 Listed cap 6,768.53 mn Payout (%) 20.42
Change -5.75 Market cap 42,679.60 mn Div Yield (%) 5.21
Last 60 days High Low
Volume 400 5110 44345 25672 918 6150 11000 2600 2286 8448 2863 106
High Low 2,094.51 2,043.27 Total cos Defaulter cos 61 16 P/BV (x) ROE (%) 14.30 30.30
PE
Open
High
Low
1.04 3.71 46.19 6.25 9.41 5.15 2.73 8.45 11.22 6.10 2.15 6.59 0.32 2.25 3.25 0.45
43.81 8.34 9.80 64.21 2.50 3.15 23.80 12.38 12.00 3.15 41.86 72.00 65.41 22.37 21.00 2.98 6.00 12.19 9.50 6.00
41.65 7.80 9.50 67.42 2.75 3.15 23.80 12.84 11.10 3.06 43.70 72.00 65.41 22.50 20.99 3.15 6.45 12.70 9.50 6.84
41.63 7.80 9.50 61.02 2.50 3.01 23.50 12.25 11.10 3.00 43.65 72.00 64.00 22.10 20.01 2.90 5.25 12.00 9.00 5.85
74.97 216.30 153.93 2.45 206.99 26.17 4.99 5.00 11.70 293.00 76.90 25.50
66.45 180.00 120.30 1.50 170.11 21.08 2.82 3.33 9.50 205.51 60.00 20.50
Close Chg 41.63 8.34 9.50 64.21 2.50 3.10 23.72 12.78 11.10 3.00 43.65 72.00 64.94 22.37 20.05 2.90 5.29 12.24 9.50 6.33
-2.18 0.00 -0.30 0.00 0.00 -0.05 -0.08 0.40 -0.90 -0.15 1.79 0.00 -0.47 0.00 -0.95 -0.08 -0.71 0.05 0.00 0.33
Close 2,072.62 Listed cap 11,335.33 mn Payout (%) 30.57
Open 903.37 Turnover 3,895,045 P/E (x) 6.72 Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement XR Cherat Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gammon Pak Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Thatta Cement
High Low 914.67 892.06 Total cos Defaulter cos 37 6 P/BV (x) ROE (%) 0.48 7.10
PE
Open
High
Low
1828 866 6.74 858 182 3257 956 47.48 3891 3651 32.03 350 6933 7.05 502 5.98 1760 283 4003 32 1288 13126 76.25 3234 5.96 5261 2271 200 798 908.50
2.99 54.09 2.50 16.09 13.66 10.50 1.60 24.03 2.15 4.09 6.90 1.53 1.97 11.48 0.41 6.91 3.07 72.93 2.28 5.47 5.69 18.09
2.88 54.25 2.89 16.00 14.00 10.30 1.72 24.43 2.20 4.16 7.25 1.55 1.97 10.48 0.60 6.98 3.20 73.69 2.35 5.63 5.79 18.24
2.56 52.25 2.46 15.09 13.99 9.80 1.53 23.91 1.80 4.02 6.40 1.45 1.72 10.48 0.40 6.51 3.01 72.66 2.21 5.41 5.50 17.50
Close 902.80 Listed cap 54,792.74 mn Payout (%) 19.04
Change -0.58 Market cap 66,778.76 mn Div Yield (%) 2.83
Close Chg
Volume
Last 60 days High Low
2.99 53.27 2.51 15.16 13.99 9.97 1.70 24.02 1.80 4.09 6.94 1.48 1.97 10.48 0.40 6.71 3.05 73.40 2.22 5.50 5.50 18.17
102 8199 38901 29270 505 3100 189151 1385124 2510 507749 13186 32414 2510 1500 15052 23153 744131 552320 209910 127131 4104 9100
3.50 56.70 3.00 21.35 14.66 11.90 2.24 29.59 3.75 4.82 8.90 1.95 3.65 13.50 0.90 7.87 3.45 73.69 2.89 6.96 7.50 19.19
0.00 -0.82 0.01 -0.93 0.33 -0.53 0.10 -0.01 -0.35 0.00 0.04 -0.05 0.00 -1.00 -0.01 -0.20 -0.02 0.47 -0.06 0.03 -0.19 0.08
2.15 48.50 1.99 14.72 10.67 8.00 1.50 21.20 1.70 3.97 6.30 1.30 1.00 4.70 0.32 5.11 2.65 59.55 1.92 5.17 4.41 16.20
2010 Div BR (%) (%) - 100R 50 - 122R - 75.5R - 20R 40 - 50R
% Change -0.06 5-Day High 904.33 5-Day Low 900.86 2011 Div BR (%) (%) -
20R 92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 994.10 Turnover 845,015 P/E (x) 2.79 Company Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Packages Ltd XD Siemens Engineering Tri-Pack Films
Paid up Cap(mn)
PE
Open
High
High Low 1,007.92 971.23 Total cos Defaulter cos 13 2 P/BV (x) ROE (%) 1.22 43.91 Low
Close Chg
115 2.42 50.57 51.30 49.00 49.30 230 1.50 1.90 1.51 1.89 1067 5.50 54.19 54.49 53.50 54.07 389 3.79 12.94 13.94 13.25 13.93 844 18.33 112.99 113.10 110.00 110.00 82 10.74 1067.50 1095.00 1026.00 1059.29 300 6.51 166.06 169.49 166.10 166.82
-1.27 0.39 -0.12 0.99 -2.99 -8.21 0.76
Close 984.31 Listed cap 3,043.31 mn Payout (%) 15.55
Volume
Change -9.79 Market cap 36,503.44 mn Div Yield (%) 5.58
Last 60 days High Low
50620 75.20 557999 2.77 946 55.25 225753 14.70 1444 130.75 187 1129.50 8001 172.00
47.80 1.40 49.00 3.15 105.02 915.00 120.70
2010 Div BR (%) (%) 20 25 32.5 900 100
25B 10B -
% Change -0.98 5-Day High 994.10 5-Day Low 978.57 2011 Div BR (%) (%) -
50R -
Open 868.31 Turnover 411,261 P/E (x) 1.58
Last 60 days High Low
Volume 19010 240 5000 102 572 101500 17208 4433 500 10500 1001 500 5769 240 2110 30500 13500 1210 15012 17502
High Low 893.86 819.37 Total cos Defaulter cos 15 7 P/BV (x) ROE (%) 0.17 10.64
49.50 9.25 10.40 67.42 4.00 3.99 24.50 12.84 19.70 4.69 53.00 84.20 66.00 27.00 21.80 4.00 6.45 12.70 9.90 7.49
39.50 5.05 8.00 53.59 2.11 2.52 20.25 10.80 11.00 2.45 40.12 65.40 52.01 19.75 10.11 2.55 2.50 11.00 8.00 4.01
Close 822.12 Listed cap 3,763.71 mn Payout (%) 6.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
134 1219 231
4.04 7.28 1.71
26.77 10.03 12.96
28.00 10.49 13.25
25.51 9.03 12.80
26.27 -0.50 9.03 -1.00 12.95 -0.01
721 215918 194622
AL-Abid Silk Pak Elektron Tariq Glass Ind
Company AL-Ghazi Tractor Bolan Casting Ghandhara Ind Hinopak Motor KSB Pumps XD Millat Tractors Pak Engineering
Paid up Cap(mn)
PE
Open
215 3.75 214.01 104 4.65 49.11 213 11.06 9.65 124 - 100.01 132 - 41.56 366 7.84 514.09 57 - 100.99
High
Low
Close Chg
217.00 214.00 216.96 50.33 46.66 47.12 9.50 9.05 9.29 100.99 97.00 97.93 43.62 39.50 41.48 517.00 514.00 516.19 104.30 103.75 104.00
2.95 -1.99 -0.36 -2.08 -0.08 2.10 3.01
1661 802 17505 601 692 14188 282
% Change -0.17 5-Day High 2,076.06 5-Day Low 2,065.55
2010 Div BR (%) (%) 50 10 15 25 40 10 15 40 12 12 15 10 -
2011 Div BR (%) (%)
25B 20B -
-
-
Change -46.19 Market cap 4,386.12 mn Div Yield (%) 3.96
199.05 42.70 8.25 97.00 39.50 466.27 92.00
2010 Div BR (%) (%)
Open 969.37 Turnover 14,572,858 P/E (x) 5.98 Company
Paid up Cap(mn)
High Low 986.95 969.08 Total cos Defaulter cos 211 73 P/BV (x) ROE (%) 0.52 8.64
PE
Open
High
Low
Ali Asghar Textile Amtex Limited Artistic Denim Asim Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) XD Bilal Fibres Blessed Tex Mills Chenab Limited Colony Mills Ltd Crescent Jute D M Textile D S Ind Ltd Data Textile D. Lawrencepur XB Dewan Khalid Textile Dewan Mushtaq Textile Din Textile Ellcot Spinning Faisal Spinning Gadoon Textile XD Ghazi Fabrics Gillette Pakistan Gulistan Spinning Gulshan Spinning H M Ismail Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Island Textile J K Spinning Khalid Siraj Kohat Textile Kohinoor Ind Kohinoor Mills Kohinoor Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Premium Textile Prosperity Quality Textile Quetta Textile Ravi Textile Redco Textile Reliance Cotton Rupali Poly Saif Textile Sajjad Textile Salfi Textile Sally Textile Salman Noman Sana Ind Saritow Spinning Service Ind XD Shadab Textile Shahtaj Textile Shams Textile Suraj Cotton Thal Ltd Treet Corp United Brands ZahidJee Textile Zephyr Textile Ltd Zil Limited
222 2594 840 152 4493 37 76 76 141 64 1150 2442 238 31 600 99 591 57 34 204 110 100 234 326 192 146 222 120 716 3105 99 180 5 184 107 208 303 509 2455 187 1620 3516 560 174 62 185 160 130 250 213 103 341 264 213 33 88 42 55 133 120 30 97 86 180 307 418 12 341 594 53
7.91 0.54 0.22 0.54 5.35 0.76 0.65 1.75 0.22 0.21 0.77 0.67 0.58 0.84 0.84 26.54 0.36 0.40 0.93 3.45 0.64 2.75 0.22 0.94 0.34 0.48 8.47 0.70 4.36 5.59 3.07 0.69 0.61 1.04 1.37 1.26 5.88 0.55 3.16 0.53 0.32 0.32 0.55 3.16 0.37 6.32 0.58 1.43 0.90 0.78 5.36 6.36 1.29 5.58 6.41
1.00 2.20 21.50 2.00 6.27 17.50 19.34 459.12 0.92 67.78 2.50 1.80 0.83 3.70 1.20 0.40 37.50 1.53 4.31 30.25 27.87 40.89 85.47 6.30 54.40 8.29 11.00 1.50 4.73 48.66 8.56 5.00 225.18 8.56 1.29 1.50 1.41 2.00 4.64 17.25 28.43 64.62 19.21 13.53 32.25 16.77 17.55 67.00 0.88 0.37 26.89 42.73 10.72 1.25 58.43 8.96 2.50 39.89 1.95 164.14 13.50 25.53 20.87 40.18 103.08 51.43 27.48 7.20 3.99 60.27
1.00 2.30 22.49 2.25 6.35 17.50 19.59 480.00 1.00 64.43 2.51 2.00 1.10 3.70 1.34 0.40 38.75 1.50 4.80 30.47 28.74 42.75 88.73 6.75 51.72 9.00 11.68 2.10 4.80 48.50 8.50 5.01 236.43 9.35 1.50 1.50 1.75 2.00 5.00 17.95 29.09 65.00 20.05 14.53 31.50 16.35 18.50 70.00 0.99 1.00 27.80 42.99 11.10 0.91 61.35 9.00 2.35 41.85 1.99 172.34 14.50 26.29 19.83 41.00 104.40 53.40 28.85 7.50 4.80 60.00
1.00 2.09 21.00 2.25 5.27 16.70 18.40 452.00 1.00 64.40 2.50 1.83 0.72 3.70 1.02 0.39 37.01 1.50 4.00 29.31 28.00 42.75 84.00 6.40 51.68 8.25 10.51 1.22 4.66 47.99 7.61 4.75 236.43 9.00 1.25 1.50 1.45 2.00 4.50 17.25 28.20 62.70 18.52 13.00 31.00 16.00 18.10 70.00 0.85 1.00 25.56 41.81 10.00 0.90 61.35 8.30 2.35 40.00 1.65 164.00 14.50 25.30 19.83 40.00 102.25 51.51 28.85 7.20 3.75 58.50
400 25 12.5 650 100
% Change 0.40 5-Day High 1,559.45 5-Day Low 1,547.41 2011 Div BR (%) (%)
10B 25B325.00 -
-
38,810.57
MA (10-day)
4.34
Total Equity (Rs in mn)
5,962.30
MA (100-day)
4.18
Revenue (Rs in mn)
MA (200-day)
3.85
Interest Expense
2,390.39
1st Support
4.55
Loss after Taxation
(637.18)
2nd Support
4.00
EPS 09 (Rs)
1st Resistance
5.45
Book value / share (Rs)
2nd Resistance
5.80
PE 10 E (x)
2.31
Pivot
4.90
PBV (x)
0.43
999.63
(1.273) 11.92
BOK closed up 0.92 at 5.17. Volume was 392 per cent above average (trending) and Bollinger Bands were 141 per cent wider than normal. The company's profit after taxation stood at Rs280.16 million which translates into an Earning Per Share of Rs0.56 for the 1st quarter of current calendar year (1QCY11). BOK is currently 34.2 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into BOK (mildly bullish). Trend forecasting oscillators are currently bullish on BOK. Momentum oscillator is currently indicating that BOK is currently in an overbought condition.
Dewan Sugar Mills Limited
Fundamental Highlights As on Sep 30, 2010
Technical Analysis RSI (14-day)
50.24
Total Assets (Rs in mn)
MA (10-day)
3.07
Total Equity (Rs in mn)
MA (100-day)
3.32
Revenue (Rs in mn)
MA (200-day)
2.60
Interest Expense
1st Support
3.05
Loss after Taxation
(83.48)
2nd Support
2.96
EPS 10 (Rs)
(2.286)
1st Resistance
3.19
6,389.07 (74.48) 4,333.66 6.09
Book value / share (Rs)
2nd Resistance
3.24
PE 11 E (x)
Pivot
3.10
PBV (x)
(2.04) (1.52)
DWSM closed down -0.05 at 3.10. Volume was 252 per cent above average (trending) and Bollinger Bands were 86 per cent narrower than normal. The company's loss after taxation stood at Rs150.438 million which translates into a Loss Per Share of Rs4.12 for the 1st quarter of current fiscal year (1QFY11). DWSM is currently 18.1 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of DWSM (bearish). Trend forecasting oscillators are currently bearish on DWSM.
Pioneer Cement Limited
% Change -5.32 5-Day High 897.54 5-Day Low 822.12
Last 60 days High Low
2010 Div BR (%) (%)
28.50 14.59 23.50
-20B 20R - 10B 17.5 -
23.33 9.03 12.00
2011 Div BR (%) (%) - 200R
Close Chg
Close 979.25 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 9.88 Market cap 129,096.71 mn Div Yield (%) 2.79
Last 60 days High Low
1.00 2.20 22.00 2.25 5.39 17.21 19.04 454.71 1.00 67.78 2.50 2.00 0.72 3.70 1.11 0.39 38.64 1.50 4.01 30.25 28.25 42.75 84.99 6.40 54.40 8.71 11.05 1.50 4.66 48.30 8.56 5.01 236.43 8.56 1.25 1.50 1.36 2.00 4.91 17.25 28.33 62.96 19.20 13.94 32.25 16.00 18.10 70.00 0.92 1.00 26.89 41.95 10.75 0.90 61.35 8.42 2.50 41.75 1.85 172.34 14.50 25.53 20.87 40.28 103.25 51.74 27.48 7.20 4.30 59.14
0.00 0.00 0.50 0.25 -0.88 -0.29 -0.30 -4.41 0.08 0.00 0.00 0.20 -0.11 0.00 -0.09 -0.01 1.14 -0.03 -0.30 0.00 0.38 1.86 -0.48 0.10 0.00 0.42 0.05 0.00 -0.07 -0.36 0.00 0.01 11.25 0.00 -0.04 0.00 -0.05 0.00 0.27 0.00 -0.10 -1.66 -0.01 0.41 0.00 -0.77 0.55 3.00 0.04 0.63 0.00 -0.78 0.03 -0.35 2.92 -0.54 0.00 1.86 -0.10 8.20 1.00 0.00 0.00 0.10 0.17 0.31 0.00 0.00 0.31 -1.13
500 107457 2503 500 7123110 6000 16236 1080 2214 319 24010 20116 39033 2000 145245 556 15431 4000 7970 7051 1100 1100 27120 1600 482 5180 95453 7533 211859 5334 103 6850 405 180 3005 1000 4503 20600 31098 11000 2100128 4190614 60101 7000 200 5730 1000 512 4221 500 370 8250 18411 5353 2041 51347 240 2842 8000 13404 1050 465 300 2301 6253 114454 101 200 2328 3991
1.45 4.24 23.28 2.25 11.81 18.41 23.27 686.07 1.95 68.09 3.40 2.95 1.43 4.00 1.87 1.10 49.05 2.20 6.40 33.69 28.74 42.75 102.24 7.50 61.09 9.23 11.68 2.10 5.20 54.40 10.90 6.00 236.43 9.35 1.79 2.29 1.90 3.75 5.58 17.95 29.50 67.50 21.21 15.49 34.40 16.90 18.50 70.00 1.74 1.00 43.00 44.40 11.50 1.88 76.43 9.35 5.75 45.15 2.35 227.00 14.84 26.29 23.00 42.00 122.70 59.90 30.36 7.74 4.80 87.90
2010 Div BR (%) (%)
% Change 1.02 5-Day High 979.25 5-Day Low 965.48 2011 Div BR (%) (%)
0.61 2.09 - 30B 18.55 20 1.50 5.27 10.01 - 15B 13.00 20 451.00 280 0.71 56.30 50 2.05 1.77 0.25 2.45 1.02 0.08 35.00 5 15B 1.41 3.02 27.00 20 10B 20.00 35 34.67 50 70.01 70 3.90 10 51.61 5.02 10 7.00 10 20B 0.42 3.50 10 43.02 20 6.81 3.05 10 99.33 50 5.80 20 5B 10.00 0.50 1.00 0.75 0.67 3.60 14.50 20SD 22.30 15 57.20 25 45R 12.30 10.20 10 10B 27.36 50 13.50 30 12.25 15 39.00 20 0.40 0.31 25.55 20 37.01 40 5.00 0.28 53.00 25 3.63 10 1.90 5B 38.00 60 1.22 154.00 75 12.00 10 18.50 45 19.83 20 35.77 50 100.51 80 20B 44.10 50 900B 27.48 2.27 2.56 56.25 35 -
-
Performance of SR Pharma and Bio Tech Index
Change 6.24 Market cap 31,388.68 mn Div Yield (%) 16.99
Last 60 days High Low 240.00 52.25 11.90 135.00 63.89 556.97 149.99
15B -
PHARMA AND BIO TECH
Close 1,553.65 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
2011 Div BR (%) (%)
20B 15B 65.00 - 50.00 20B 10.00
PERSONAL GOODS
INDUSTRIAL ENGINEERING High Low 1,559.95 1,545.27 Total cos Defaulter cos 11 1 P/BV (x) ROE (%) 2.94 38.02
90 100 50 60 20 150 5 10
Performance of SR Personal Goods Index
Performance of SR Industrial Engineering Index Open 1,547.41 Turnover 35,742 P/E (x) 7.74
% Change -0.50 5-Day High 1,157.32 5-Day Low 1,147.80
2010 Div BR (%) (%)
Change -3.44 Market cap 293,066.81 mn Div Yield (%) 0.65
CONSTRUCTION AND MATERIALS Performance of SR Construction and Materials Index
-
Total Assets (Rs in mn)
Performance of SR Household Goods Index
2011 Div BR (%) (%)
- 20.00 25B 15.00 20B 15.00 -
-
88.60
HOUSEHOLD GOODS
Company
Change -3.39 Market cap 9,822.51 mn Div Yield (%) 9.54
Paid up Cap(mn)
AL-Noor Sugar Bawany Sugar Chashma Sugar Clover Pakistan Colony Sugar Mills Dewan Sugar Habib Sugar Habib-ADM Ltd Haseeb Waqas Kohinoor Sugar Mirpurkhas Sugar Mithchells Fruit National Foods Noon Pakistan Noon Sugar Quice Food S S Oil Sanghar Sugar Shahmurad Sugar Shakarganj Mills
INDUSTRIAL METALS AND MINING Open 1,060.57 Turnover 302,071 P/E (x) 3.24
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
FOOD PRODUCERS Open 2,076.06 Turnover 246,718 P/E (x) 47.21
-
Performance of SR Industrial Metals and Mining Index
40 15
2011 Div BR (%) (%)
Performance of SR Food Producers Index
2011 Div BR (%) (%) -
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
CHEMICALS Performance of SR Chemicals Index Open 1,841.77 Turnover 24,913,345 P/E (x) 8.99
Bank of Khyber Limited
% Change -1.48 5-Day High 699.22 5-Day Low 687.18
AUTOMOBILE AND PARTS
-
90901
2.81
84.33 -1.33
277.50 274.01 274.87
-
10.43
Pak Petroleum Pak Refinery Limited
2011 Div BR (%) (%)
20B115.00
758028
Oil & Gas Development 43009 Pak Oilfields
% Change 1.90 5-Day High 1,484.67 5-Day Low 1,447.38
2010 Div BR (%) (%)
387.40 376.00 385.38
-
Current High Low Change
11,716.35 11,796.78 11,616.45 h99.90
Alert ! Unusual Movements
Performance of SR Industrial Transportation Index
Close Change 1,484.67 27.68 Listed cap Market cap 65,194.15 mn 1,099,571.05 mn Payout (%) Div Yield (%) 55.94 5.57
6.96 376.37
735
National Refinery
Open
High Low 1,501.43 1,454.08 Total cos Defaulter cos 12 P/BV (x) ROE (%) 3.27 32.54
691 3921
Mari Gas Company
PE
Current High Low Change
KMI 30 Index
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,457.00 Turnover 12,080,872 P/E (x) 10.05
KSE 30 Index
Open 985.83 Turnover 26,524 P/E (x) 6.52 Company
Paid up Cap(mn)
Abbott (Lab) XD 979 Ferozsons (Lab) 250 GlaxoSmithKlineXDXB 1963 Highnoon (Lab)XDXB 182 IBL HealthCare Ltd 200 Searle Pak 306 Wyeth Pak 142
PE
Open
5.67 93.62 8.00 96.65 10.57 73.98 5.97 25.79 4.70 11.01 5.45 63.06 9.87 926.86
High
High Low 993.51 969.78 Total cos Defaulter cos 9 P/BV (x) ROE (%) 1.45 22.31 Low
Close Chg
93.99 91.55 92.50 95.49 92.52 96.65 75.69 73.60 73.97 26.45 25.33 25.79 11.89 10.20 11.46 62.50 62.00 62.31 915.02 912.00 912.00
-1.12 0.00 -0.01 0.00 0.45 -0.75 -14.86
Close 980.77 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 3022 195 14296 232 4407 4166 106
Change -5.06 Market cap 31,674.74 mn Div Yield (%) 6.83
Last 60 days High Low 98.35 99.49 90.00 33.50 12.80 66.15 1110.00
78.59 85.00 68.00 24.50 8.10 58.05 897.01
2010 Div BR (%) (%) 50 40 25 30 10
% Change -0.51 5-Day High 986.40 5-Day Low 979.23 2011 Div BR (%) (%)
20B 12.50 15B 10B -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
35.45
Total Assets (Rs in mn)
10,325.49
MA (10-day)
5.64
Total Equity (Rs in mn)
2,218.22
MA (100-day)
6.33
Revenue (Rs in mn)
3,872.83
MA (200-day)
6.95
Interest Expense
1st Support
5.37
Loss after Taxation
2nd Support
5.28
EPS 10 (Rs)
1st Resistance
5.59
Book value / share (Rs)
2nd Resistance
5.72
PE 11 E (x)
Pivot
5.50
PBV (x)
392.66 (590.93) (2.653) 9.96 0.55
PIOC closed up 0.03 at 5.50. Volume was 198 per cent above average (trending) and Bollinger Bands were 16 per cent wider than normal. The company's loss after taxation stood at Rs196.945 million which translates into a Loss Per Share of Rs0.85 for the nine months of fiscal year (9MFY11). PIOC is currently 20.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of PIOC (mildly bearish). Trend forecasting oscillators are currently bearish on PIOC.
Lafarge Pakistan Cement Limited
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
44.39
Total Assets (Rs in mn)
19,704.24
MA (10-day)
3.09
Total Equity (Rs in mn)
9,763.73
MA (100-day)
3.19
Revenue (Rs in mn)
MA (200-day)
3.09
Interest Expense
1st Support
3.00
Loss after Taxation
2nd Support
2.91
EPS 09 (Rs)
1st Resistance
3.19
Book value / share (Rs)
2nd Resistance
3.29
PE 10 E (x)
Pivot
3.10
PBV (x)
8,129.96 1,230.81 (1,278.96) (0.974) 7.44 0.41
LPCL closed down -0.02 at 3.05. Volume was 59 per cent below average (consolidating) and Bollinger Bands were 50 per cent narrower than normal. The company's loss after taxation stood at Rs948.495 million which translates into a Loss Per Share of Rs0.72 for the year ended CY10. LPCL is currently 1.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of LPCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on LPCL.
BOOK CLOSURES Company
From
To
Pak Elektron Javedan Cement # Pakistan Cables # Ali Asghar Textile Mills # (TFC) Faysal Bank Ltd Fecto Sugar Mills # Habib Insurance # Atlas Engineering Ltd # Pakistan Paper Products # Crescent & Sugar Mills # Jubilee Spng & Weaving Mills # Crescent Textile Mills # Metropolitan Steel Corp # Flying Cement # United Distributors # Capital Assets Leasing Biafo Industries (TFC) Orix Leasing Pak Arif Habib Investment # Rafhan Maize Products Packages Ltd # IGI Insurance (TFC) Engro Fertilizer
30-Apr 30-Apr 30-Apr 02-May 02-May 02-May 04-May 04-May 05-May 06-May 07-May 07-May 07-May 09-May 10-May 10-May 11-May 12-May 14-May 14-May 16-May 16-May 17-May
06-May 07-May 06-May 09-May 12-May 08-May 10-May 10-May 14-May 14-May 16-May 16-May 13-May 16-May 16-May 16-May 17-May 25-May 21-May 21-May 20-May 24-May 30-May
D/B/R 5 22(III) 350(I) 10(I) -
Spot AGM/Date -
30-Apr 07-May 06-May 09-May 09-Aug 10-May 10-May 14-May 14-May 16-May 16-May 13-May 17-May 16-May 21-May 20-May -
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols
Open
High
TRG Pakistan Ltd. Pak Tobacco XD Shifa Int.Hospitals P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone
2.62 96.98 31.5 2.53 39.98 3.08 22.46 2.59
2.71 98.85 33.07 2.59 40.98 3.23 23.1 2.98
Low Close 2.56 96 31 2.46 37.99 3.02 22.46 2.51
2.63 96.69 31.68 2.47 38.04 3.05 22.53 2.59
Change 0.01 -0.29 0.18 -0.06 -1.94 -0.03 0.07 0
Vol 266340 788 3936 76461 4238 449032 523766 201
7
Saturday, April 30, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 996.58 Turnover 6,501,945 P/E (x) 5.36 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,012.87 970.56 Total cos Defaulter cos 5 P/BV (x) ROE (%) 0.69 12.84
PE
Open
High
Low
Close Chg
78 40.37 37740 13.80 3000 2.73 8606 6175 -
44.18 17.16 1.61 2.29 2.93
41.98 17.43 1.68 2.35 3.09
41.98 16.72 1.53 2.25 2.81
41.98 16.83 1.61 2.27 2.85
Close 978.22 Listed cap 50,077.79 mn Payout (%) 62.56
Volume
-2.20 -0.33 0.00 -0.02 -0.08
11524 6176666 86724 227031 64745
Change -18.36 Market cap 68,041.88 mn Div Yield (%) 11.67
% Change -1.84 5-Day High 996.58 5-Day Low 978.22
Last 60 days High Low
2010 Div BR (%) (%)
79.90 19.20 2.35 2.89 3.73
80 17.5 1 -
41.98 16.05 1.53 2.15 2.65
2011 Div BR (%) (%)
- 15.00 -
-
Ask Gen Insurance XB 280 3.75 Atlas Insurance 443 4.15 Central InsuranceXDXB 391 1.56 Century Insurance XD 457 4.72 Crescent Star Insurance 121 12.87 EFU General Ins. XD 1250 12.03 Habib InsuranceXDXB 450 5.48 IGI Insurance 970 5.94 New Jub InsuranceXDXB 989 10.08 Pak Reinsurance XD 3000 8.25 PICIC Ins Ltd 350 7.49 Premier Insurance XD 303 4.21 Reliance Insurance XB 284 3.72 United Insurance XB 496 2.12
10.35 28.15 68.78 8.23 4.68 32.76 11.75 71.30 57.84 14.40 8.31 8.42 6.00 5.77
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric Tri-star Power XD
198 11572 1560 7932 1695 126 8803 3673 3541 191 1367 150
PE
Open
High
Low
7.60 5.11 2.38 5.56 3.28 2.41 6.13 -
0.65 37.46 1.13 2.50 15.96 3.20 43.52 15.78 16.74 21.15 1.44 1.19
0.70 38.00 1.23 2.56 16.96 3.23 43.89 16.60 17.25 22.20 1.50 1.26
0.55 37.60 1.10 2.50 16.49 3.00 43.10 15.91 16.80 21.25 1.35 1.03
Close 1,369.64 Listed cap 95,369.29 mn Payout (%) 104.13
Change 13.07 Market cap 106,713.87 mn Div Yield (%) 7.49
Close Chg
Volume
Last 60 days High Low
0.55 37.87 1.11 2.51 16.90 3.04 43.32 16.33 16.87 22.14 1.36 1.19
10951 691841 75155 197576 6025 38202 95705 4593371 1381015 208960 91058 213
0.87 40.75 1.75 2.99 19.10 4.95 44.99 17.00 18.00 22.20 2.24 1.37
-0.10 0.41 -0.02 0.01 0.94 -0.16 -0.20 0.55 0.13 0.99 -0.08 0.00
0.50 35.90 1.07 2.31 15.41 2.45 40.26 14.05 14.85 15.35 1.35 0.31
% Change 0.96 5-Day High 1,369.64 5-Day Low 1,352.23
2010 Div BR (%) (%) 50 25 50 20 -
2011 Div BR (%) (%)
- 25.00 7.8R - 10.00 - 30.00 -
Open 793.11 Turnover 23,816 P/E (x) 5.51 Company
American Life EFU Life Assurance XD New Jub Life Insurance
Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 13.29 8390 4.73
Open
High
18.74 21.66
19.10 21.98
High Low 1,301.31 1,250.14 Total cos Defaulter cos 2 P/BV (x) ROE (%) 0.93 11.41 Low 18.56 20.90
Close Chg
Close 1,252.68 Listed cap 12,202.80 mn Payout (%) 66.79
Volume
18.60 -0.14 20.94 -0.72
11658 29822
Last 60 days High Low 27.35 27.90
18.06 20.90
% Change -2.11 5-Day High 1,311.37 5-Day Low 1,252.68
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,152.10 Turnover 23,416,755 P/E (x) 7.50 Paid up Cap(mn)
Company
Allied Bank Ltd. XDXB 8603 Askari Bank XB 7070 Bank Alfalah 13492 Bank AL-Habib 8786 Bank Of Khyber 5004 Bank Of Punjab 5288 BankIslami Pak 5280 Faysal Bank 7327 Habib Bank Ltd 11021 Habib Metropolitan Bank XB 10478 JS Bank Ltd 8150 KASB Bank Ltd 9509 MCB Bank Ltd 8362 Meezan Bank XB 8030 Mybank Ltd 5304 National BankXDXB 16818 Network Mic Bank 300 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Stand Chart Bank 38716 Summit Bank Ltd 7251 United Bank Ltd 12242
PE
Open
High
6.20 62.50 5.38 11.75 5.31 10.32 6.25 29.56 2.31 4.25 5.43 10.59 3.89 7.53 9.91 7.62 122.07 5.40 18.47 51.00 2.55 1.34 8.37 204.69 7.97 18.50 2.49 4.16 52.88 2.50 1.97 25.88 2.05 16.94 2.85 3.20 6.23 9.47 9.57 3.25 7.49 64.10
High Low Close 1,169.89 1,144.48 1,156.96 Total cos Defaulter cos Listed cap 27 - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.05 13.94 40.49 Low
Close Chg
Volume
62.98 62.40 62.87 0.37 12.06 11.75 11.83 0.08 10.50 10.05 10.09 -0.23 29.75 29.30 29.49 -0.07 5.25 4.35 5.17 0.92 5.48 4.96 5.01 -0.42 3.99 3.31 3.92 0.03 10.16 9.73 9.94 0.03 123.50 121.80 122.06 -0.01 18.88 18.30 18.80 0.33 2.60 2.55 2.55 0.00 1.45 1.30 1.40 0.06 208.00 204.80 207.05 2.36 19.39 18.74 18.80 0.30 2.32 2.26 2.30 -0.19 53.65 52.75 52.91 0.03 2.45 1.90 1.99 -0.51 2.01 1.91 1.98 0.01 2.15 2.03 2.07 0.02 2.99 2.63 2.71 -0.14 6.44 6.31 6.40 0.17 9.37 8.80 9.00 -0.57 3.35 3.00 3.01 -0.24 64.24 63.60 63.76 -0.34
Change 4.86 Market cap 690,136.51 mn Div Yield (%) 5.40
Last 60 days High Low
24524 73.50 361941 17.59 1148711 11.55 202628 37.38 480898 5.25 3684836 8.68 23418 4.18 28052 14.70 97608 131.00 12933 26.50 65498 3.16 160190 1.80 619566 231.25 2225 19.70 45351 3.22 1975680 81.78 50451 3.49 4958972 2.94 364133 2.20 8731201 2.99 228453 7.50 61366 9.90 109585 3.79 88120 67.50
57.00 11.65 8.75 26.95 3.30 4.96 3.06 9.73 104.16 18.30 2.35 1.20 192.20 16.26 1.70 52.75 0.76 1.69 1.50 2.02 5.00 6.28 2.36 56.70
% Change 0.42 5-Day High 1,156.96 5-Day Low 1,151.85
2010 Div BR (%) (%)
2011 Div BR (%) (%)
40 10B - 10B 20 20B - 20B 65 10B - 20B - 33R -105.16R 115 10B 30.00 - 15B 75 25B -154.79R -63.46R - 311R 6 50 -
20R -
NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 731.85 Turnover 2,076,889 P/E (x) 10.71 Paid up Cap(mn)
Company
Adamjee Insurance XD
1237
High Low 745.76 723.29 Total cos Defaulter cos 34 22 P/BV (x) ROE (%) 0.56 5.20
Close 729.96 Listed cap 11,111.34 mn Payout (%) 79.54
Change -1.89 Market cap 45,561.53 mn Div Yield (%) 7.43
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.40
69.41
69.90
68.21
68.98 -0.43
120479
92.50
67.00
% Change -0.26 5-Day High 733.74 5-Day Low 725.32
2010 Div BR (%) (%) 25
2011 Div BR (%) (%)
-
-
-
522 12.49 23900 42.90 230 115.90 1072 10.85 500 5.94 6609 42.99 18985 16.05 12440 103.00 1003 74.90 1885967 20.80 525 13.00 105 13.27 2500 8.25 2000 8.49
High Low 800.07 772.85 Total cos Defaulter cos 4 P/BV (x) ROE (%) 3.27 3.85
9.51 26.60 61.30 8.11 3.11 31.25 11.20 65.10 52.00 13.80 8.10 8.01 5.76 4.86
Close 789.08 Listed cap 2,290.72 mn Payout (%) 355.53
-10B 25R 40 20B 25 50B 10 12.5 25 12.5B 30 55B 10.00 20 25B 30 25 - 12.5B - 24B -
Change -4.03 Market cap 8,875.32 mn Div Yield (%) 4.18
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
500 6.64 850 7.60 627 14.25
16.26 55.18 52.67
17.26 54.97 53.73
17.25 53.01 51.60
17.26 1.00 54.10 -1.08 53.00 0.33
821 6091 16904
18.50 65.49 53.73
-
14.02 51.00 39.05
% Change -0.51 5-Day High 793.11 5-Day Low 753.55
2010 Div BR (%) (%) 50 15
2011 Div BR (%) (%)
-
-
-
FINANCIAL SERVICES Open 277.97 Turnover 4,764,851 P/E (x) 11.21 Company
Change -27.06 Market cap 27,781.35 mn Div Yield (%) 8.19
-0.30 -0.91 3.01 0.26 -0.69 -0.52 -0.25 0.49 -0.47 0.04 0.68 0.00 0.10 0.33
Paid up Cap(mn)
High Low 287.25 259.14 Total cos Defaulter cos 41 6 P/BV (x) ROE (%) 0.17 0.91
PE
Open
High
Low
225 1.02 360 5.76 450 15.78 3750 3.09 150 2.00 250 First Credit & Invest Bank Ltd 650 First National Equity 575 IGI Investment Bank 2121 8.95 Invest and Fin Sec 600 20.27 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.75 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 5.49 JS Investment 1000 43.67 KASB Securities 1000 Orix Leasing 821 3.34 Pervez Ahmed Sec 775 3.35 Saudi Pak Leasing 452 Stand Chart Leasing 978 3.59
0.50 21.60 15.95 23.56 1.34 1.36 5.02 5.00 1.70 7.23 0.40 2.86 1.52 6.56 2.75 20.10 5.35 3.69 5.60 1.74 0.67 2.52
0.50 22.68 16.70 23.75 1.70 1.36 4.50 4.99 1.94 7.96 0.50 3.05 1.68 6.69 2.92 20.75 5.47 3.78 5.85 1.82 0.70 2.74
0.41 21.75 14.95 23.05 1.26 1.25 4.50 4.08 1.70 7.20 0.30 2.80 1.50 5.90 2.61 19.10 5.20 3.35 5.50 1.60 0.60 2.55
AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Dawood Cap Mangt. XB Dawood Equities
Close Chg 0.49 22.56 14.99 23.10 1.26 1.31 4.50 4.30 1.70 7.50 0.45 2.80 1.68 6.05 2.69 19.10 5.24 3.35 5.51 1.61 0.60 2.55
-0.01 0.96 -0.96 -0.46 -0.08 -0.05 -0.52 -0.70 0.00 0.27 0.05 -0.06 0.16 -0.51 -0.06 -1.00 -0.11 -0.34 -0.09 -0.13 -0.07 0.03
Close 264.91 Listed cap 30,336.44 mn Payout (%) 99.56
Volume 27073 22676 148361 956355 6652 16752 1500 2503 12789 86414 133024 19743 25814 3742512 72097 3704 129780 3423 11612 269898 20011 10002
Change -13.05 Market cap 13,048.12 mn Div Yield (%) 5.21
Last 60 days High Low
2010 Div BR (%) (%)
0.93 24.97 25.90 26.30 2.10 2.57 6.00 7.19 2.75 8.28 0.88 3.74 2.00 11.95 4.00 28.01 6.92 4.97 6.50 2.49 0.95 3.20
30 11.5 10 50 -
0.34 18.99 14.95 18.75 1.10 1.06 2.30 2.60 1.65 5.15 0.30 2.73 1.24 5.90 2.58 19.10 5.00 3.31 5.00 1.21 0.47 1.67
% Change -4.70 5-Day High 289.22 5-Day Low 264.91 2011 Div BR (%) (%)
20B 20B 10B -
-
-
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,530.16 Turnover 1,110,352 P/E (x) 21.39 Company
Paid up Cap(mn)
1st Fid Leasing AL-Meezan Mutual F. AL-Noor Modaraba B R R Guardian Mod. Crescent St Modaraba Elite Cap Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund NAMCO Balanced Fund PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba Tri-Star Mutual U D L Modaraba
264 1375 210 780 200 113 524 581 760 397 1008 3180 1186 283 1200 1000 1000 2835 2841 872 340 454 50 264
High Low 1,553.66 1,508.32 Total cos Defaulter cos 52 11 P/BV (x) ROE (%) 0.47 2.21
PE
Open
High
Low
4.51 2.32 1.99 4.00 4.15 0.96 1.22 2.36 3.58 4.07 2.42 0.67 1.61 2.67 3.63 2.24 2.75 2.31 1.55 5.46 0.73 2.26
1.35 10.50 3.65 2.01 0.50 2.99 1.79 1.99 3.53 7.70 7.85 7.00 6.34 2.09 9.21 4.60 7.52 13.29 5.89 0.98 1.20 9.68 1.02 6.88
1.55 10.70 3.65 2.15 0.58 3.20 1.87 2.10 3.65 8.00 8.00 7.11 6.68 2.50 9.30 5.25 7.70 13.40 5.90 0.96 1.25 9.88 1.46 6.80
1.35 10.45 3.50 1.84 0.55 2.51 1.57 2.00 3.55 7.30 7.35 7.00 6.10 2.50 9.30 4.75 7.50 13.17 5.79 0.85 1.00 9.54 1.10 6.60
Close 1,532.34 Listed cap 29,771.58 mn Payout (%) 104.74
Change 2.18 Market cap 19,671.96 mn Div Yield (%) 7.61
% Change 0.14 5-Day High 1,540.24 5-Day Low 1,523.93
Close Chg
Volume
Last 60 days High Low
2010 Div BR (%) (%)
1.35 10.50 3.65 1.91 0.56 2.99 1.57 2.04 3.56 7.31 7.85 7.05 6.35 2.50 9.30 4.75 7.58 13.37 5.85 0.85 1.15 9.88 1.10 6.60
2319 44849 1900 5136 1512 152 5228 232470 13680 995 6679 186530 213161 7500 260029 663 77850 16008 10136 4005 13029 2989 101 3394
2.35 11.50 3.65 2.20 0.75 3.40 2.38 2.57 3.95 8.48 8.44 7.45 6.68 3.94 10.24 5.28 8.83 16.49 7.95 1.10 1.99 10.63 1.93 7.25
18.5 5 0 1.2 5 17 11 21 12.5 10 2.8 15.5 15 10 20 10 3 1 17 12.5
0.00 0.00 0.00 -0.10 0.06 0.00 -0.22 0.05 0.03 -0.39 0.00 0.05 0.01 0.41 0.09 0.15 0.06 0.08 -0.04 -0.13 -0.05 0.20 0.08 -0.28
UPTO 100 VOLUME Open
High
Low
Close
FML
13.02
14.02
14.02
13.02
0.00
100
OTSU
33.00
31.36
31.36
33.00
0.00
100
TATM
Symbols
40.96
42.40
42.40
40.96
0.00
100
RMPL
2744.40
2725.00
2608.19
2724.80
-19.60
99
JDWS
74.80
76.98
76.00
74.80
0.00
87
3561.88
3600.00
3400.00
3504.87
-57.01
77
MERIT
28.89
29.50
27.51
28.89
0.00
65
BIFO
49.50
51.90
51.90
49.50
0.00
55
MSOT
18.38
18.89
18.89
18.38
0.00
52
0.00
51
NESTLE
SSIC
5.15
COLG
1.16 8.95 2.85 1.12 0.39 2.12 1.52 1.79 2.92 6.81 6.97 4.76 4.20 1.50 8.10 3.00 6.74 12.00 5.10 0.80 0.50 9.50 0.71 5.67
2011 Div BR (%) (%)
- 5.00 - 5.00 - 10.00 - 12.50 - 7.50 - 7.50
-
5.49
5.43
Change
5.15
Vol
699.93
725.00
724.98
725.00
25.07
41
5015.24
5066.00
5010.00
5045.40
30.16
41
SRSM
3.85
4.69
3.01
3.85
0.00
BROT
0.43
0.79
0.79
0.43
0.00
DBCI
1.95
2.02
1.75
1.95
0.00
27
JDMT
17.00
17.50
16.00
17.00
0.00
25
ARM
17.90
17.01
17.01
17.90
0.00
20
REWM
13.46
14.00
13.69
13.46
0.00
15
ULEVER
HAJT
0.51
MODAM
1.25
1.40
0.98
1.34
1.20
0.51
31 27
0.00
1.25
13
0.00
11
ADOS
7.65
8.65
8.65
7.65
0.00
10
POML
40.00
42.00
42.00
40.00
0.00
10
101.50
99.89
99.89
101.50
0.00
8
MUREB CPAL
2.30
2.95
2.95
2.30
0.00
CRTM
14.60
15.49
15.48
14.60
0.00
PAKMI
0.88
1.20
1.10
0.88
0.00
4
170.04
176.70
164.00
170.04
0.00
4
SHEZ
7 5
SIBL
2.22
2.40
1.65
2.22
0.00
4
AGSML
5.90
6.00
5.00
5.90
0.00
2
FCONM
Performance of SR Financial Services Index
GAS WATER AND MULTIUTILITIES Open 1,279.74 Turnover 41,480 P/E (x) 8.16
Paid up Cap(mn)
-
Performance of SR Gas Water and Multiutilities Index
10.05 27.24 71.79 8.49 3.99 32.24 11.50 71.79 57.37 14.44 8.99 8.42 6.10 6.10
Performance of SR Life Insurance Index
Performance of SR Electricity Index High Low 1,380.07 1,359.03 Total cos Defaulter cos 15 1 P/BV (x) ROE (%) 1.30 9.35
10.05 27.20 71.79 8.20 3.99 31.60 11.50 71.01 56.99 14.25 8.98 8.69 6.10 6.00
LIFE INSURANCE
ELECTRICITY Open 1,356.58 Turnover 7,390,072 P/E (x) 13.91
10.05 28.35 72.21 8.69 3.99 33.10 11.75 72.00 57.75 15.40 9.31 8.85 6.11 6.10
1.25
1.90
1.90
1.25
0.00
2
FECS
38.00
38.00
38.00
38.00
0.00
2
COTT
1.77
1.70
1.70
1.77
0.00
CWSM
1.30
1.39
1.39
1.30
0.00
DCH
2.48
2.75
2.75
2.48
0.00
1
DWAE
1.06
1.45
1.45
1.06
0.00
1
FZTM
303.57
318.00
318.00
303.57
0.00
1
GRAYS
41.80
42.98
42.98
41.80
0.00
1
MDTL
15.18
15.70
15.70
15.18
0.00
1
MQTM
9.80
9.00
9.00
9.80
0.00
1
MUKT
0.36
0.44
0.44
0.36
0.00
1
1 1
OLTM
1.00
1.98
1.98
1.00
0.00
1
PMRS
38.76
40.69
40.69
38.76
0.00
1
SHNI
13.55
14.49
14.49
13.55
0.00
1
FUTURE CONTRACTS Symbols
Open
High
Low
Close
DGKC-APR
24.02
24.40
23.90
24.01
NBP-MAY
53.44
DGKC-MAY
24.29
54.29 24.60
53.30 24.01
Change -0.01
53.42
-0.02
24.28
-0.01
Vol 667500 600500 599500
PTC-MAY
17.25
17.45
17.00
17.00
-0.25
516000
NBP-APR
52.91
53.60
52.50
52.86
-0.05
515000
ENGRO-MAY 196.89
199.90
197.10
199.18
2.29
491500
POL-MAY
327.30
FFBL-MAY
42.81
FFC-MAY
331.90 43.15
327.05 42.65
329.73
2.43
42.73
-0.08
489000 465000
142.33
145.50
142.00
142.87
0.54
452000
ENGRO-APR 195.12
198.30
195.50
197.48
2.36
385500
POL-APR
325.77
330.85
326.78
328.36
2.59
381000
MCB-MAY
206.00
209.02
206.55
207.91
MCB-APR
204.22
207.99
205.00
1.91
368000
206.71
2.49
341000
NML-APR
64.70
64.95
62.75
62.92
-1.78
279000
FFC-APR
141.35
144.70
141.50
141.96
0.61
263000
NML-MAY
64.99
65.50
63.10
63.26
-1.73
258500
ATRL-MAY
127.55
130.00
127.40
127.87
0.32
FFBL-APR
42.34
42.80
42.21
42.44
0.10
PPL-MAY
213.07
216.50
212.27
213.24
0.17
206500
PPL-APR
212.60
216.40
211.50
211.54
-1.06
153000
ATRL-APR
126.57
129.50
126.89
127.17
0.60
133000
232500
LUCK-APR
72.73
73.99
72.75
73.26
0.53
223500
94000
LUCK-MAY
73.37
74.00
73.10
73.49
0.12
88500
PTC-APR
17.33
17.40
16.87
16.87
-0.46
85000
UBL-APR
63.97
64.40
64.10
64.15
0.18
37000
UBL-MAY
64.52
64.30
64.00
64.25
-0.27
10500
37.49
38.00
38.00
38.00
0.51
500
HUBC-APR
MTS LEVERAGE POSITION Symbol AHCL AICL AKBL ANL ATRL BAFL DGKC ENGRO FFBL HUBC LOTPTA LUCK MCB NBP NCL NML OGDC PAKRI POL PPL PSO PTC UBL TOTAL
Total Volume 2,497,405 5,375 46,724 30,000 18,500 97,000 263,000 928,443 80,500 51,500 3,589,000 105,000 66,200 552,400 505,000 67,500 79,500 33,000 89,500 43,500 37,000 152,004 2,000 9,340,051
Total Value 44,477,317 277,063 413,432 134,897 1,762,925 758,493 4,770,078 135,469,250 2,522,831 1,448,449 42,937,228 5,706,294 10,026,109 22,016,204 10,496,176 3,259,297 7,778,750 360,164 21,926,610 6,981,703 7,648,908 1,971,935 96,301 333,240,410
MTS Rate 21 20 21 17 20 20 17 16 16 19 16 17 18 16 21 16 16 16 16 17 16.62
BOARD MEETINGS
Pakistan Telecommunication Co Ltd
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day) MA (5-day)
Brokerage House
Leverage Position
62.26
Support 1
11,970.95
11,964.23
Support 2
11,884.30
MA (10-day)
11,871.83
Resistance 1
12,139.90
MA (100-day)
11,961.41
Resistance 2
12,222.25
MA (200-day)
11,137.51
Pivot
12,053.30
Arif Habib Ltd AKD Securities Ltd TFD Research
Target Price
Recommendations
24.7
Buy
Arif Habib Ltd
23.91
Buy
AKD Securities Ltd
120.7
Positive
TFD Research
129.4
25.8
Leverage Position
RSI (14-day) 47.91 MTS Shares `000 152.004 MA (10-day) 16.78 MTS Rs `000 1,971.93 18.22 MTS Rate 16.00 KSE 100 INDEX closed up 90.87 points at 12,057.54. Volume was MA (100-day) MA (200-day) 18.58 ** NOI Rs (mn) 13.26 8 per cent below average and Bollinger Bands were 43 per cent narFree Float Shares (mn) 585.02 Free Float Rs (mn) 9,845.95 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 12,139.90 and 2nd resistance PTC closed down -0.33 at 16.83. Volume was 176 per cent above level at 12,222.25, while Index will continue to find its 1st support average (trending) and Bollinger Bands were 27 per cent narrower level at 11,970.95 and 2nd support level at 11,884.30. KSE 100 INDEX is currently 8.3 per cent above its 200-day moving than normal. average and is displaying an upward trend. Volatility is relatively nor- PTC is currently 9.4 per cent below its 200-day moving average and mal as compared to the average volatility over the last 10 trading is displaying an upward trend. Volatility is extremely high when comsessions. Volume indicators reflect volume flowing into and out of pared to the average volatility over the last 10 trading sessions. INDEX at a relatively equal pace. Trend forecasting oscillators are Volume indicators reflect moderate flows of volume into PTC (mildly currently bullish on INDEX. bullish). Trend forecasting oscillators are currently bullish on PTC.
Brokerage House
Target Price
TFD Research
Recommendations
143.2
AKD Securities Ltd
145 145.25
Brokerage House
Hold
AKD Securities Ltd
Accumulate
TFD Research
71.45 78.6
Recommendations
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
66.58 MTS Shares `000 79.50 136.99 MTS Rs `000 7,778.75 157.13 MTS Rate 153.31 ** NOI Rs (mn) N/A Free Float Shares (mn) 630.61 Free Float Rs (mn) 91,854.07 Target price for Dec-11 & **Net Open Interest in future market
AKD Securities Ltd
45.52
Accumulate
Neutral
TFD Research
44.25
Neutral
Technical Outlook
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
61.78 140.52 134.75 121.42 Free Float Shares (mn) 466.49
MTS Shares `000 MTS Rs `000 MTS Rate ** NOI Rs (mn) Free Float Rs (mn)
82.49 66,199.22
Target price for Dec-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
61.06 MTS Shares `000 80.50 41.61 MTS Rs `000 2,522.83 39.95 MTS Rate 15.99 34.84 ** NOI Rs (mn) 97.37 Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,855.65 Target price for Dec-11 & **Net Open Interest in future market
and Bollinger Bands were 50 per cent narrower than normal.
FFC is currently 16.9 per cent above its 200-day moving average and is FFBL is currently 21.6 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to displaying an upward trend. Volatility is relatively normal as 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 volume flowing into and out of FFC at a relatively equal pace. Trend reflect moderate flows of volume into FFBL (mildly bullish). Trend forecastforecasting oscillators are currently bearish on FFC.
ing oscillators are currently bullish on FFBL.
Brokerage House
Pakistan Petroleum Ltd
Brokerage House
Target Price
Target Price
Recommendations
359
Hold
Arif Habib Ltd
254.9
Neutral
TFD Research
246.65
Arif Habib Ltd AKD Securities Ltd
322.42
TFD Research
363.65
Positive
Leverage Position
Leverage Position
FFC closed up 0.64 at 141.91. Volume was 112 per cent above average FFBL closed down -0.06 at 42.38. Volume was 27 per cent below average and Bollinger Bands were 78 per cent narrower than normal.
Positive
43.53 MTS Shares `000 67.50 64.15 MTS Rs `000 3,259.30 64.26 MTS Rate 16.14 56.96 ** NOI Rs (mn) 52.66 Free Float Shares (mn) 175.80 Free Float Rs (mn) 11,068.36 Target price for Dec-11 & **Net Open Interest in future market
Hold
Arif Habib Ltd
Reduce
Technical Analysis
Technical Outlook Technical Analysis
Recommendations
42.2
Hold
Accumulate
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Target Price
Recommendations
144
Pakistan Oilfields Ltd
Neutral
Technical Outlook Technical Analysis
Target Price
Brokerage House
Target Price
Technical Outlook
Nishat Mills Ltd
Oil & Gas Development Co Ltd
Arif Habib Ltd
Brokerage House
Technical Outlook Technical Analysis
Fauji Fertiliser Bin Qasim Ltd
Fauji Fertiliser Co
Technical Analysis
Leverage Position
58.59 MTS Shares `000 89.50 325.13 MTS Rs `000 21,926.61 315.42 MTS Rate 16.00 276.65 ** NOI Rs (mn) 246.57 Free Float Shares (mn) 107.94 Free Float Rs (mn) 35,448.47 Target price for Dec-11 & **Net Open Interest in future market
Buy Positive
Technical Outlook
Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Recommendations
Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
58.94 MTS Shares `000 43.50 210.53 MTS Rs `000 6,981.70 211.16 MTS Rate 16.00 202.90 ** NOI Rs (mn) 48.24 Free Float Shares (mn) 247.66 Free Float Rs (mn) 52,611.33 Target price for Dec-11 & **Net Open Interest in future market
OGDC closed up 5.94 at 145.66. Volume was 443 per cent above average NML closed down -1.66 at 62.96. Volume was 61 per cent above average POL closed up 2.81 at 328.40. Volume was 32 per cent above average PPL closed down -0.05 at 212.43. Volume was 100 per cent above aver(trending) and Bollinger Bands were 0 per cent wider than normal.
and Bollinger Bands were 45 per cent narrower than normal.
and Bollinger Bands were 71 per cent narrower than normal.
age and Bollinger Bands were 55 per cent narrower than normal.
OGDC is currently 5.0 per cent below its 200-day moving average and is NML is currently 10.5 per cent above its 200-day moving average and is POL is currently 18.7 per cent above its 200-day moving average and is PPL is currently 4.7 per cent above its 200-day moving average and is disdisplaying an upward trend. Volatility is extremely high when compared to displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is low as compared to the average playing an upward trend. Volatility is extremely low when compared to the the average volatility over the last 10 trading sessions. Volume indicators to the average volatility over the last 10 trading sessions. Volume indica- volatility over the last 10 trading sessions. Volume indicators reflect mod- average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into OGDC (mildly bullish). Trend fore- tors reflect volume flowing into and out of NML at a relatively equal pace. erate flows of volume into POL (mildly bullish). Trend forecasting oscilla- reflect volume flowing into and out of PPL at a relatively equal pace. Trend casting oscillators are currently bullish on OGDC.
Trend forecasting oscillators are currently bearish on NML.
tors are currently bearish on POL.
forecasting oscillators are currently bullish on PPL.
Company
Date
Time
Ishtiaq Textile Mills Ltd Leiner Pak Gelatine Ltd Al-Khair Gadoon Ltd Meezan Bank Ltd Liberty Mills Ltd Taha Spinning Mills Ltd Haji Mohammad Ismail Mills Ltd Babri Cotton Mills Ltd S.G Power Ltd Service Ind Textiles Ltd Bestway Cement Ltd Service Fabrics Ltd Reliance Weaving Mills Ltd Metropolitan Steel Corp Ltd Punjab Oil Mills Ltd Tariq Glass Ind Ltd Telephone Cables Ltd Ittefaq General Insur Co Ltd Ruby Textile Mills Ltd
30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr 30-Apr
4:00 10:00 3:00 10:00 11:00 3:00 4:00 0:00 9:00 10:00 10:30 10:30 10:30 11:00 11:00 11:00 11:00 1:30 11:00
TECHNICAL LEVELS Company Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Alfalah 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 57.25 2.75 2.50 58.65 62.50 62.15 42.82 52.25 51.25 40.65 22.85 22.60 18.67 14.40 13.80 39.82 68.15 67.35 31.77 11.70 11.55 17.32 5.00 4.60 67.45 378.45 371.55 58.42 126.00 124.85 44.31 9.90 9.75 54.06 3.50 3.05 16.80 4.80 4.65 53.87 1.60 1.45 43.02 23.80 23.60 41.47 2.45 2.40 52.26 2.00 1.90 37.61 31.50 30.80 34.71 53.10 52.05 45.07 195.55 193.60 27.14 9.70 9.50 40.51 4.00 3.95 61.06 42.10 41.85 61.80 140.35 138.85 52.66 121.40 120.75 54.23 37.65 37.40 44.26 154.95 153.05 44.28 219.65 219.35 34.48 2.55 2.45 28.36 1.05 1.00 41.91 2.50 2.45 44.21 5.75 5.40 65.90 43.00 42.65 42.98 2.45 2.40 63.62 16.55 16.35 69.52 72.80 72.20 52.37 205.25 203.40 37.31 2.15 2.10 24.50 52.55 52.20 54.32 28.00 27.65 43.97 22.30 22.05 47.89 1.90 1.85 41.22 2.60 2.50 43.54 62.10 61.25 66.56 141.40 137.10 42.91 2.95 2.90 38.74 1.55 1.45 43.61 2.45 2.40 35.46 5.40 5.30 58.57 325.65 322.95 58.90 210.20 207.95 52.36 67.75 65.55 49.99 273.40 271.95 47.90 16.55 16.30 52.38 209.50 208.25 36.88 18.40 18.20 59.60 18.55 18.25 25.61 20.55 20.20 28.81 1.55 1.45 37.36 2.55 2.50 53.13 63.50 63.25 37.39 2.25 2.20
1st
2nd
Resistance 3.05 3.15 63.10 63.35 54.25 55.25 23.55 24.00 16.15 17.30 69.85 70.70 12.00 12.20 6.05 6.75 389.85 394.35 128.80 130.55 10.35 10.65 4.15 4.40 5.35 5.65 1.75 1.85 24.35 24.65 2.60 2.70 2.15 2.20 33.00 33.80 55.05 56.00 198.90 200.35 10.15 10.35 4.15 4.25 42.75 43.10 144.35 146.75 123.10 124.15 38.05 38.20 158.15 159.40 220.65 221.35 2.85 3.05 1.20 1.30 2.60 2.65 6.50 7.00 43.80 44.25 2.55 2.60 17.00 17.30 73.85 74.30 208.45 209.80 2.30 2.40 53.45 54.00 28.90 29.45 22.95 23.35 2.00 2.05 2.85 3.00 64.40 65.85 148.30 150.95 3.20 3.30 1.75 1.90 2.55 2.65 5.60 5.75 331.05 333.70 215.60 218.75 71.55 73.20 276.90 278.95 17.25 17.70 212.50 214.25 18.95 19.30 19.25 19.70 21.65 22.35 1.70 1.75 2.70 2.80 64.15 64.50 2.35 2.40
Pivot 2.80 62.75 53.25 23.30 15.55 69.05 11.90 5.65 382.95 127.70 10.20 3.75 5.15 1.65 24.10 2.55 2.05 32.30 54.05 196.95 9.95 4.10 42.50 142.80 122.45 37.80 156.25 220.35 2.75 1.15 2.55 6.20 43.45 2.50 16.85 73.25 206.60 2.25 53.10 28.55 22.70 1.95 2.75 63.55 144.05 3.10 1.70 2.50 5.50 328.35 213.35 69.35 275.45 17.00 211.25 18.75 19.00 21.25 1.60 2.65 63.85 2.30
8
Saturday, April 30, 2011
New girl for Aamir in DHOOM:3 Aamir advises Salman to get married
A
ISLAMABAD: Models displaying the dresses of designer Saim during fashion show at Latelier on Saturday night. -APP
Ahuja bailed over maid rape A
court in the Indian city of Mumbai on Wednesday granted bail to Bollywood actor Shiney Ahuja who is appealing against a conviction for raping his maid. The Bombay High Court ordered the release of Ahuja, star of several films including "Hazaaron Khwaishein Aisi" (A Thousand Desires), "Gangster" and "Life in a Metro", who was sentenced to seven years in jail last month. He was told to pay a bond of 50,000 rupees ($1,100) and not to leave the country without permission. Ahuja, 37, had denied the offence, which allegedly took
place at his home in the city in June 2009. His legal team called the judgement "perverse and illegal", questioning the strength of the victim's evidence and medical tests. The trial judge ruled that scratch marks and DNA results
were sufficient proof. The victim withdrew her complaint of rape in September, claiming she was told to make a complaint by another woman who had initially got her the job with the star. "Apart from the girl denying the alleged offence, even the medical evidence is in negative," the appeal document said, according to the Press Trust of India news agency. "Evidence given by doctors, who examined (Ahuja) and the victim, stated that there are no injuries on the girl's body. Even the semen and blood samples were negative of (Ahuja)'s DNA."
Mahesh Bhatt's wife to sue Meera E
minent Bollywood film director Mahesh Bhatt's wife Soni Razdan has decided to take legal action against Pakistani actress Meera for ‘character assassination’ of her husband. Meera had accused Mahesh Bhatt of slapping her. Changing track, , the girl who landed up at the filmmaker's office declared that she thought of him not only as her Guru but also her boyfriend -in the presence of Emraan Hashmi, Shagufta Rafique, writer of Raaz and Murder and Sevy Ali. Standing up for her husband, Soni Razdan has decided to take legal action against the Pakistani actress. In fact, she is meeting her
lawyers to file a defamation suit underlining charges of character assassination. When contacted, Soni said, "Yes, I am meeting my lawyers to file a legal suit against Meera. This is not the first time Meera has tried to malign my husband. A few years ago she had made bizarre allegations against him in an Urdu daily in Pakistan." "I am very angry. You can't say anything about anybody. Look at the work Mahesh is doing now. It goes far beyond the Meeras and slushy gossip. She needs to behave responsibly, and since she is not doing that, she needs to be taught a lesson," added Razdan. "She is dangerous. She needs medication. It is like déjà vu
for me. And I speak in the context of the unfortunate illness of Parveen Babi," said Mahesh Bhatt about the Pakistani actress who was discovered by him in the 2005 film Nazar directed by Razdan. With actresses trying to malign directors to draw media attention these days, is it feared that pushed the Bhatts into taking legal action? "Not at all," said Bhatt, adding, "Look, I am not a holy man or a politician who is worried to protect his reputation. My life is an open book. No Meeras, in fact, nobody can cast aspersions on me. Actually, Meera is a patient. She has an unsound mind. Slander comes from a disturbed mind, doesn't it?"
Can Chalo Dilli prove yet again-Small is beautiful!
T
he promos of Lara Dutta's upcoming home production, Chalo Dilli, starring Vinay Pathak are doing the rounds on various entertainment channels. From the teasers it is quite obvious that Lara's film has everything that the discerning, multiplex thronging audience wants, something 'hatke' from the usual. There is a constant undercurrent of humour in the promos and seasoned actor Vinay Pathak, who is now a known name after the success of films like Bheja Fry and Rab Ne Bana Di Jodi etc., is in his element. Moreover, unlike other top actors and actresses, Lara has kept a tight leash on the budget as can be seen from the promos and it's evident that she too is following the golden rule, and that is keep things simple, the script tight and the budget small, as time and again it has been proved beyond doubt that small is indeed beautiful and more often than not such films have the capacity to touch the hearts of the audience.
fter Esha and Ash in the previous instalments, Dhoom 3 will have a new girl alongside Aamir. After months of speculation over who amongst the three leading actresses (Katrina, Deepika, Priyanka) will be cast opposite Aamir in Dhoom 3, Yash Raj has revealed that there will be no seasoned actress but a newcomer as the female lead in YRF's most awaited sequel of the Dhoom series. Yash Raj reveaked, "Aditya Chopra and Director Vijay Krishna Acharya are keen to cast a totally new face to play the female lead role in the movie. And the hunt is on." Will Dhoom 3 break box office records of Dabangg? Afterall Salman worked with debutante Sonakshi in the film and people loved the pair. Aamir will follow suit as he too will be seen with debutante actress in Dhoom3. The production house which only signed the top stars has now become a platform even
for newcomers to showcase their talent. YRF has launched many new faces like Anushka Sharma,Ranveer Singh, Parineeti Chopra, Shraddha Kapoor, Shazahn Padamsee in recent past too. DHOOM: 3, directed by Vijay Krishna Acharya and produced by Aditya Chopra, stars Aamir Khanalong with Abhishek Bachchan and Uday Chopra who will resurrect their iconic roles of Jai Dixit and Ali. The music will be composed by Pritam. Meanwhile, Bollywood Actor Aamir Khan has advised his friend, actor Salman Khan to get married. Aamir Khan attended opening ceremony of a café in Mumbai where media personnel surrounded him. When they asked him about Salman’s marriage, he replied that Salman needs to be forced to get married. Salman Khan is busy these days promoting his upcoming film “Ready”, which would be released in early June.
film of his comes after such a huge gap, in this case as much as 9 months after DABANGG, the craze is bound to be manifold." Now with promos of READY being out, it is obvious that the makers are playing to his DABANGG image. They are unabashedly selling Salman of his post-Dabangg image, what with numerous references to his 2010 cop action drama by means of mannerisms (sunglasses placed in collar), dialogues (never under estimate I, me and myself) and body language (ever-so-flamboyant). No one seems to be thinking about what really is
the story of READY with it being presented as a Salman Khan show-reel. Bhushan Kumar, producer of READY, promises that there is much more to follow though. "'Character Dheela' is already a rage and 'Humko Pyaar Hua' has just been released. Now just wait for 'Dhinka Chika' and you would know what READY is all about. Everything about the film is as commercial as it gets. We have the plans laid down." We look forward to them unfolding soon Bhushan. No one minds a blockbuster bringing smiles back for Bollywood.
Lindsay Lohan says she has made poor decisions and is ready to deal with the consequences. The troubled actress acknowledged feeling shock at ruling by a Los Angeles judge that sentenced her to jail. But Lohan said she was "treated the way I should be treated." She further said that she is ready to face the consequences. Lohan was sentenced to 120 days in jail for violating her probation by taking a designer necklace. The actress s attorneys appealed the sentence. Lohan was freed on bond after a few hours behind bars. Lohan said that she has let a lot of her fans down by putting herself in such situations. She expressed hope that she could get her acting career back on track.
Bollywood film shoot halted over illegal dancers A Bollywood film starring screen legend Amitabh Bachchan was disrupted in Mumbai after a political party protested against the use of foreign dancers.
After Ishqiya, it is Love Phir Se
A
year has gone by since the release of Ishqiya but the film is still fresh in people memory. The makers (Shemaroo) too are aware about that and hence wanted to go the next level with a much bigger starcast for their next outing. As has turned out, they were firming up plans and would soon be making a formal announcement. Just like Ishqiya, their next film too would be centered on the theme of love, though with a twist. 'Shemaroo has made two rel-
atively dark films with Vishal Bhardwaj in the form of Omkara and Ishqiya. Even Abhay Deol's Manorama - Six Feet Under had a dark tone to it. However for their next, the production house wanted something far lighter. Though they had made a comedy Mere Baap Pehle Aap with Akshaye Khanna, the film was critically panned and was commercially unsuccessful as well. They don't want to take any chances with their next', says an industry insider.
Members of the Maharashtra Navnirman Sena (MNS) forced shooting of the action movie "Bbuddha" to stop, claiming that 40 overseas artistes were performing without valid work permits. The group barged onto the set in central Mumbai and told the crew to stop filming, said the party's film wing head Amey Khopkar. "We will not allow foreign workers if they don?t have proper work documents. This is illegal as they are violating law," he told. Bachchan made no immediate mention of the incident on his Twitter feed or blog. The Press Trust of India news agency quoted a senior Mumbai police officer as saying that they were checking the dancers' documents. Foreign performers are increasingly being used in Hindi-language Bollywood for the industry's trademark lavish song-and-dance routines. The MNS is an offshoot of the right-wing Hindu nationalist Shiv Sena, which has an often violent track record of protesting against migrant workers in Mumbai and Maharashtra state.
35th death anniversary of Munawar Zareef observed
Salman Ready to cross 100 crores milestone D ABANGG arrived with a bang and not just broke the opening weekend record of ‘3 IDIOTS’ but also turned out to be the second highest grosser in the history of Hindi cinema by doing business in the excess of 140 crores net. Now comes Salman Khan's ‘READY’ and after watching the film's promos, trade is already pegging it to be next Salman blockbuster that would at the least top 100 crores mark. "It is simple maths actually instead of any assumption, guess work or wish-list", says a director who has worked with Salman in the past, "When a
Lohan ready to face music
T
MUMBAI: Indian Bollywood actress Zarine Khan (L) poses with actor Salman Khan during a music launch ceremony for the forthcoming Hindi comedy film âReadyâ directed by Anees Bazmee.
he great comic actor of Pakistan film industry, Munawar Zareef is being remembered on his 35th death anniversary Friday. According to private news channel, Munawar was born in Gujranwala on February 2, 1940 and was one of the greatest and most refined comic actors in Pakistani cinema. He started his cinematic career in 1961 and professionally went from strength to strength in the next 16 years with over 200 films to his credit. Munawar Zareef died in Lahore on 29th of April 1976 due to cardiac arrest.
9
Saturday, April 30, 2011
Oil lifted by weak dollar, to post 8-monthly gain Dollar stays under pressure, helps support oil, gold NEW YORK: Oil prices pushed higher on Friday, on pace to post its eighth consecutive monthly rise, lifted by the weak dollar and turmoil in North Africa and the Middle East that offset concerns about slowing US economic growth and the threat to demand from high prices. On the last trading day of April, both Brent and US crude were heading for an eighth consecutive month of gains. The US string would be the longest run of monthly increases since 1983 when the light sweet crude contract was introduced on the New York Mercantile Exchange, according to Reuters data. Traders also eyed US frontmonth May gasoline and heating oil futures that expire at the end of Friday's session. Both US and Brent crude bounced from early dips after euro-zone data showed the inflation rate rose further above the European Central Bank's target in April, helping push the dollar index against a basket of major cur-
Indian sugar steady MUMBAI: Indian spot sugar was steady on Friday as hopes the government will ease some of the curbs it imposed to arrest spiraling sugar prices outweighed higher supplies in the market, dealers said. "Industry is lobbying hard to impose duty on sugar imports. Besides, there was talk of extending stock limit timeline for bulk consumers," said a member of the Bombay Sugar Merchants Association. Last year, India permitted dutyfree sugar imports after output fell sharply and prices soared. The government also prevented bulk consumers from stocking sugar equivalent to more than 10 days of consumption. Indian sugar millers want the government to immediately tax imports amid a rise in local output and lower global prices, which have halved in three months, stoking fears of dumping, an industry body head said on Thursday. In Kolhapur, a key market in top sugar producer Maharashtra, the price of the most traded Svariety sugar edged up 0.3 per cent to 2,658 rupees ($59.7) per 100 kg. The price has fallen over a third since a record high of 3,972.3 rupees on Jan. 7. -Reuters
rencies to a three-year low. Brent crude for June rose 61 cents to $125.63 a barrel by 1624 GMT. Brent's 2011 peak of $127.02 was reached on April 11. US crude for June rose 54 cents to $113.40. US crude reached $113.97 on Thursday, the highest intraday price since prices
reached $130 on Sept. 22, 2008. "Oil is reacting to the dollar. The dollar index looked like it was trying to find at least a temporary base around the 73 area. Oil is waiting for something new to push it higher," said Richard Ilczyszyn, senior market strategist at Lind-Waldock in Chicago. Crude oil trading volumes remained tepid, dampened by a holiday in the United Kingdom. Volatility and uncertainty
amid the pan-Arab protests and Libya's conflict have tempered trading, indicated by the nearly 130,000-lot deficit of the US 30-day average volume to the 250-day average, according to Reuters data. Libya's conflict spilled beyond its borders as forces loyal to leader Muammar Gaddaffi attacked the Tunisian town of Dehiba, near the Libyan border. In the Middle East, tensions escalated in Syria and tens of thousands rallied across the country demanding political freedoms. Oil's price rise could be tempered if evidence that high prices are eroding demand starts to confirm forecasters' fears that they are slowing consumption and the global economy. Complaints about high prices were the most frequent since 2008 and half of all households said their finances had worsened, according to the survey. -Reuters
US cotton ends mixed with later contracts up NEW YORK: US cotton futures were mixed by the end on Thursday, with nearby contracts falling and later-dated futures firming after steep selling in day-earlier business, but ample nearby supply was hurting May and July fiber prices. 'We've had something of a meltdown in the market this week, but today it did a little better. It was, of course, oversold,' said Keith Brown of Keith Brown and Co. in Moultrie, Georgia. Most-active July cotton on ICE Futures US finished 1.37 cents lower at $1.5202, a 0.89 per cent decline, after falling to the downside limit a day-earlier. New-crop December cotton was up 1.98 cents, or 1.59 per cent, at $1.2658 cents a lb. at the close. May cotton, which is undergoing deliveries, was down 2.07 cents, or 1.18 per cent, to end at $1.7282 per lb. Thursday began with open interest of 5,350 lots for the May contract, only a slight decline from the 5,674 lots open as of Tuesday. Yet, deliv-
US cocoa at 6wk high, coffee turns up NEW YORK: US cocoa futures trading on ICE climbed for the fourth straight day on Friday, hitting a six-week high after climbing above technical buy signals, while arabica coffee reversed up and moved towards Thursday's 34-year top. Raw sugar moved down for the fifth straight day, hitting a 61/2-month low on supply pressure and as it continued its downtrend on the last trading day of the month. London-based Liffe soft commodity markets were closed for UK holidays Friday and Monday, and will reopen Tuesday. ICE Futures US will delay the start of electronic trading for coffee, cocoa and sugar until 1130 GMT on Monday because of the British holidays, it said in a notice. US cocoa continued higher, following a technical breakout and options-related dealings earlier this week that forced many holding short positions to frantically take cover. Key July cocoa futures rose $62, or 1.9 per cent, to $3,342 per tonne by 1533 GMT, just off its session high of $3,344, the highest for the second position since March 14. Arabica coffee futures corrected lower in thin dealings after hitting a 34-year high at $3.0340 per lb, basis July, intraday Thursday and settling well below this peak. July arabica coffee futures turned up 1.10 cents, or 0.3 per cent, to $3.0020 per lb. The market remains underpinned by concerns about tight supplies of washed arabica beans and was on track to make the strongest monthly gains since December. Raw sugar continued to move lower as the market remained focused on the May delivery, which was expected to be heavy, as the spot contract expires on Friday. Open interest for May dropped to 19,306 lots by April 28, down 11,008 lots from the previous day. The May raw sugar contract dropped 0.37 cent, or 1.6 per cent, to 23.55 cents a lb, July fell 0.33 cent, or 1.5 per cent, to 22.19 cents, after falling to a session low at month low at 21.75, the lowest since October 2010. "Sugar is caught in a downward trend and I think sugar has more work to do on the downside. We do have the large Brazilian crop coming into the supply chain," Smith said. The second position has fallen for three straight months. Reuters
TOKYO: Farmers hold cabbages to protest against the Japanese nuclear accident at the headquarters of the Tokyo Electric Power Co (TEPCO) in Tokyo. -Agencies
Gold set for biggest monthly gain since Nov NEW YORK: Gold rose to a third consecutive record high on Friday, closing in on $1,550 an ounce as the dollar fell to a three-year low on expectations the US Federal Reserve will maintain easy money policy. Silver rose toward the previous session's record high near $50 an ounce, which had eclipsed the Hunt Brothers peak reached three decades ago. The metal is set for a near 30 per cent rise in April, its
1531 GMT, on course for an 8 per cent monthly gain, its strongest since November. Bullion was also set for its seventh consecutive weekly rise, its longest winning streak since 2007. US June futures rose 0.9 per cent to $1,544.30 an ounce, with trading volumes restricted by a public holiday in London. Investors look forward to next Friday's nonfarm payrolls data for trading cues, after data
announced over the weekend, I think Shanghai copper should be due for a rebound next Tuesday. But for now, the market is still concerned about the tight credit conditions in China and the weak US economy," Zhou added. US GDP data released on Thursday showed the world's largest economy grew by 1.8 per cent in the first quarter, missing market expectations of 2 per cent. Also dampening market sentiment was the release of US job numbers on Thursday, which revealed a surprise jump in the number of Americans claiming unemployment benefits last week. This could cast a shadow on expectations for a significant pick-up in output in the second quarter. The weak US data, after the Federal Reserve's assurance that it was in no hurry to change its ultra-loose monetary policy, hit the dollar , which wallowed at three-year lows against a basket of currencies, on track for its biggest
Palm hits 1-wk low on weak crude oil
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for April 28 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2460 2480 2450 2470 2450 2460 2450 2460
2771.5 2772 2772 2774 2830 2835 2878 2883
9370 9370.5 9390 9390.5 9375 9385 9145 9155
2530 2531 2512 2513 2492 2497 2455 2460
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Apr11 862.00, May11 862.00-15.00, Jun11/Jul11 867.00-15.00, Aug11/Oct11 872.00-15.00, Nov11/Jan12 877.00, Feb12/Apr12 882.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 975.00-10.00, Aug11/Oct11 940.00-10.00, Nov11/Jan12 945.00-10.00, Feb12/Apr12 950.00-12.00. SUNOIL: EU dlrs tonne extank six ports option Jul11/Sep11 1400.00-10.00, Oct11/Dec11 1370.00-10.00. LINOIL: Any origin dlrs tonne extank Rotterdam May11/Jun11 1547.50+22.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Afloat 1142.50, Apr11 1142.50-2.50, May11/Jun11 1145.00+0.00, Jul11/Sep11 1145.00+0.00, Oct11/Dec11 1145.00+0.00. PALMOIL: RBD dlrs tonne cif Rotterdam May11 1245.00, Jun11 1230.00, Jul11/Sep11 1205.00. PALMOIL: RBD dlrs tonne fob Malaysia May11 1190.00+0.00, Jun11 1175.00+2.50, Jul11/Sep11 1150.00-2.50. PALM OLEIN: RBD dlrs tonne fob Malaysia May11 1197.50+0.00, Jun11 1182.50+2.50, Jul11/Sep11 1157.50+0.00, Oct11/Dec11 1145.00+0.00, Jan12/Mar12 1142.50+0.00. PALM STEARIN: Dlrs tonne fob Malaysia May11 1140.00+0.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia May11 745.00+0.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jun11/Jul11 1995.00-5.00, Jul11/Aug11 1985.00. PALMKERNEL OIL: Mal/Indon dlrs tonne cif Rotterdam Apr11/May11 1880.00-20.00, May11/Jun11 1860.00-15.00, Jun11/Jul11 1850.00-20.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Jul11/Aug11 2695.00. -Reuters
ery notices issued to date have been light. Many players sold cotton as a preventative measure on Wednesday ahead of the US biggest monthly gain since this week painted a picture of Federal Reserves policy-setan economy with slower April 1987. ting statement, in a move to Precious metals rose further growth and higher inflation, take risk off the table. after data showed US con- and after the Federal Reserve When the Fed confirmed that sumer spending rose in March signaled it would not tighten it left its loose monetary policy as households stretched to monetary policy any time intact for an extended period, cover higher costs for food and soon. many participants saw the sellMeanwhile silver hovered gasoline, with inflation posting off as overdone and bought its biggest year-on-year rise in close to its record high, having gained 4 per cent this week, 10 months. back cotton, along with many "Gold is showing a text-book although analysts say its robust other commodities. bull market behavior, a steady performance against the other 'The selling was end-of-the ascent without major spikes. precious metals may not be month speculative liquidation, It's the continuation of the sustainable. fear about what Bernanke Silver was last up 0.2 per same theme, as the Fed's posmight say yesterday, and ture seems to be fairly dovish cent at $48.41 an ounce, profittoday's export numbers showed still," said James Dailey, port- ing also from the softness in some cancellations,' said folio manager of the TEAM the dollar, which fell as much Brown. Further, supplies comas 0.4 per cent to a three-year Asset Strategy Fund. ing to the market from the Spot gold was last up 0.6 per low against a basket of currenSouthern Hemisphere--specificent at $1,543.79 an ounce by cies. -Reuters cally, Brazil, Argentina and Australia--at competitive prices hurt July prices. But, cotton was able to regain strength in contracts dated from October out through the rest of the board as many participants rolled into new crop contracts. -Reuters KUALA LUMPUR/JAKAR- a trader with a foreign com- lower because of the external TA: Malaysian crude palm oil modities brokerage. weakness -- crude oil, Dalian fell to a one-week low on At the close, the benchmark and everything," said an secFriday as falling crude oil and July crude palm oil on Bursa ond trader. "We got hints of the comparative vegetable oils Malaysia Derivatives Exchange export number to be released." weighed on prices ahead of ended 0.7 per cent lower at "We are hearing it is up about much anticipated export data. 3,270 ringgit ($1,102) after ear- 13 per cent higher ... 1,255 The tropical oil is down lier falling as low as 3,237 ring- (tonnes)." Exports of about 14 per cent so far this git -- a level not seen since Malaysian palm oil products weekly fall in 14 weeks. year as weak exports, April 19. Traders are waiting for March fell 0.5 per cent to China's yuan breezed past the prospects of better output in for Malaysia's April palm oil 1,105,440 tonnes. psychological threshold of the second half and ample soy export data, which may edge Chicago soyoil for May 6.50 per dollar for the first time supplies from South America higher after four months of delivery rebounded in Asian on Friday, raising expectations have weighed on sentiment. straight declines. Data from trade after recording losses the that Beijing will continue to let "Palm oil is trading lower on surveyor ITS is due to be issued day before, moving in tandem the currency strengthen more the external markets, although over the weekend, while cargo with soybeans. The mostquickly as a way of battling the declines have slowed as surveyors will release their fig- active January 2012 Dalian inflation. there are expectations of slight- ures on Tuesday. soyoil contract dropped more Commodity bulls expect the ly better exports in April," said "The market was trading than 2 per cent. -Reuters rising Chinese currency to support demand for industrial metNational Commodity Exchange Ltd Trading Summary als from China, consumer of 40 Date Commodity Contract Price Open High Low Close Traded Volume Previous Current per cent of the world's copper. Date Quotation in lots Settlement Settlement The May copper contract on Price Price Comex in New Yorkdropped 29-Apr-2011 CRUDE100 JU11 US$ Per Barrel 112.45 113.95 111.76 113.20 253 112.55 113.20 0.6 per cent to 421.95 cents/lb 29-Apr-2011 CRUDE100 JY11 US$ Per Barrel 113.50 114.37 112.92 113.68 30 113.08 113.68 29-Apr-2011 CRUDE100 AU11 US$ Per Barrel 113.37 113.97 113.37 113.97 113.37 113.97 ($9,302 a tonne). US$ Per Troy Ounce 48.36 49.51 47.37 49.03 194 48.28 49.03 The London Metal Exchange 29-Apr-2011 SILVER - 500oz JU11 US$ Per Troy Ounce 48.30 49.48 47.28 49.03 843 48.29 49.03 copper three-month delivery 29-Apr-2011 SILVER - 500oz JY11 GOLD 01oz JU11 US$ Per Troy Ounce 1528.50 1540.00 1524.50 1539.40 3,531 1528.80 1539.40 contract closed flat on 29-Apr-2011 GOLD 01oz JY11 US$ Per Troy Ounce 1529.50 1540.60 1525.10 1540.00 4,244 1529.40 1540.00 Thursday, its last trading day 29-Apr-2011 29-Apr-2011 GOLD 01oz AU11 US$ Per Troy Ounce 1530.50 1541.20 1526.00 1540.70 1,134 1530.00 1540.70 of the month, at $9,320, which 29-Apr-2011 GOLD 100oz JU11 US$ Per Troy Ounce 1528.40 1539.40 1525.50 1539.40 42 1528.80 1539.40 marked a fall of 1.1 per cent for 29-Apr-2011 GOLD 100oz JY11 US$ Per Troy Ounce 1529.40 1540.00 1529.40 1540.00 1529.40 1540.00 April, the contract's second 29-Apr-2011 GOLD 100oz AU11 US$ Per Troy Ounce 1531.10 1540.50 1528.70 1540.00 29 1530.00 1540.70 monthly decline in a row. 29-Apr-2011 GOLD MY11 Per 10 grms 41884.00 41900.00 41560.00 41900.00 5 41560.00 41900.00 GOLD JU11 Per 10 grms 41748.00 41910.00 41570.00 41910.00 26 41570.00 41910.00 The LME is closed on Friday 29-Apr-2011 GOLD JY11 Per 10 grms 41589.00 41929.00 41589.00 41929.00 41589.00 41929.00 for Britain's royal wedding. It 29-Apr-2011 KILOGOLD AP11 Per 10 grms 41533.00 41872.00 41533.00 41872.00 41533.00 41872.00 will be closed on Monday for a 29-Apr-2011 KILOGOLD MY11 Per 10 grms 41543.00 41883.00 41543.00 41883.00 41543.00 41883.00 public holiday, when Shanghai 29-Apr-2011 29-Apr-2011 TOLAGOLD50 MY11 Per Tola 48443.00 48839.00 48443.00 48839.00 48443.00 48839.00 will also be shut. -Reuters
Shanghai copper declines, weighed down by US data SINGAPORE: Shanghai copper fell on Friday ahead of a long weekend, after the US unveiled lower-than-estimated GDP figures for the first quarter and a surprise jump in the number of unemployment benefits claims. The most active Shanghai copper contract July, dropped 1.2 per cent to 69,200 yuan by 0707 GMT, and was on track for a 2.1 per cent monthly fall, its second consecutive decline. "It's the last trading day before a long weekend, and somehow the mood always turns cautious on a day like this," said Shanghai CIFCO Futures analyst Zhou Jie. "Also, the LME is not open, and that takes out the traders who may be looking to buy copper on Shanghai to take advantage of the current arbitrage." Shanghai copper is trading at a discount of 1,578 yuan to London, taking into account China's 17 per cent VAT. "If there are no negative macroeconomic policies
European vegetable oil prices
26605 26610 26605 26610 26135 26235 25530 25630
TIN
ZINC NASAAC
32250 2221 32275 2221.5 32275 2234.5 32325 2235.5 32235 2288 32285 2293 2307 2312
2590 2591 2620 2630 2675 2685 2735 2745
29-Apr-2011 TOLAGOLD100 MY11 29-Apr-2011 MINIGOLD MON 29-Apr-2011 MINIGOLD TUE 29-Apr-2011 MINIGOLD WED 29-Apr-2011 MINIGOLD THU 29-Apr-2011 MINIGOLD FRI 29-Apr-2011 TOLAGOLD MON 29-Apr-2011 TOLAGOLD TUE 29-Apr-2011 TOLAGOLD WED 29-Apr-2011 TOLAGOLD THU 29-Apr-2011 TOLAGOLD FRI 29-Apr-2011 RICEIRRI - 6 AP11 29-Apr-2011 RBD PALMOLEIN AP11 29-Apr-2011 KIBOR3M 11-Mar 29-Apr-2011 KIBOR3M 11-Jun
Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
48443.00 42636.00 42681.00 42696.00 42711.00 42621.00 50616.00 50500.00 50463.00 50652.00 49058.00 3421.00 5121.00 86.29 85.29
48839.00 42966.00 43011.00 43026.00 43041.00 43056.00 50616.00 50500.00 51200.00 50652.00 49563.00 3421.00 5121.00 86.29 85.30
48443.00 42636.00 42681.00 42696.00 42711.00 42621.00 49075.00 49127.00 49144.00 49161.00 49058.00 3419.00 5119.00 86.29 85.29
48839.00 42966.00 43011.00 43026.00 43041.00 43056.00 49459.00 49511.00 49528.00 49546.00 49563.00 3419.00 5119.00 86.29 85.30
1 2 25 21 -
48443.00 42636.00 42681.00 42696.00 42711.00 42621.00 49075.00 49127.00 49144.00 49161.00 49058.00 3421.00 5121.00 86.29 85.29
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
48839.00 42966.00 43011.00 43026.00 43041.00 43056.00 49459.00 49511.00 49528.00 49546.00 49563.00 3419.00 5119.00 86.29 85.30
Open Interest in Lots 68 4 6 51 2,090 1,883 329 11 2 5 6 7 51 15 4 21 -
Brazil's Thomaz Bellucci returns a shot against Uruguay's Pablo Cuevas during the Estoril Tennis Open in Lisbon
Afridi gives credit to teamwork BARBADOS: Skipper of Pakistan cricket team, Shahid Khan Afridi, said after winning the third One Day International against West Indies that the victory was a result of teamwork. Talking to reporters in a press conference, Afridi said that all the players have performed well so far in the first three matches of the series and all of them deserve the credit for this memorable victory over the West Indian team. He further elaborated that during the three matches all the players at some stage performed their role in winning it for Pakistan so all of them deserve the credit for the series victory. When asked about any changes for the fourth and fifth ODI, Shahid Afridi said, "Our top priority was to win the series and as now we have won it we will definitely give chance to new comers". Earlier on Thursday, Shahid Afridi showed his dissatisfaction on the ICC One-Day rankings system saying it was hard to understand how it works. The ICC had made it clear the other day that even if Pakistan whitewash West Indies in the ODI series it will only get one point out of it, which means Pakistan will have to stay at Number Six in the ICC rankings. -Reuters
Sehwag happy with Fletcher’s early appointment NEW DELHI: Indian opener Virender Sehwag reckons the BCCI did the right thing by appointing Duncan Fletcher as coach soon after Gary Kirsten's departure as it has given the Zimbabwean enough time to settle with the side. "It's good for India. It's a good thing that the BCCI has found a replacement in quick time. It will obviously help the players and the new coach to settle down early. He (Fletcher) will get enough time to do home work before our series against England starts," Sehwag said. Fletcher, a former England coach who guided them to the memorable 2005 Ashes triumph, would not be able to join the Indians during next month's tour of the West Indies due to personal reasons but would be there when Mahendra Singh Dhoni's men tour England later this year. The former Zimbabwe captain's appointment has evoked mixed reactions with some former greats including Sunil Gavaskar insisting that an Indian would have been a better choice. Asked whether he has had any interaction with Fletcher, Sehwag merely said, "No, I don't know him." Sehwag's opening partner Gautam Gambhir, on the other hand, is not even thinking about the new coach right now as he is completely focused on his role as Kolkata Knight Riders skipper in the ongoing Indian Premier League. "Right now, my concentration and focus is totally on the IPL. I am not thinking about all these things. I will only think about all this once the IPL ends," he said. As Kirsten's successor, Fletcher has massive expectations to live upto as the amiable South African left after taking India to their first World Cup title in 28 years besides being at the helm during some of the most memorable overseas triumphs of the team. NNI
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Saturday, April 30, 2011
Pakistan secure ODI series win over Windies BRIDGETOWN: Pakistan took an unassailable 3-0 lead in their five match one-day international against West Indies after winning y three wickets at the Kensington Oval on Thursday. A rain delay reduced the match to 45 overs per team and West Indies, batting first, once again failed to build on a decent start, ending up with just 171 all out from 43.4 overs. Pakistan were in trouble early in their reply when they slumped to 12-3 as Ravi Rampaul produced a superb opening spell, but a calming 62 not out from Misbah-ul-Haq saw the tourists home with almost five overs to spare. It was a familar story with the bat for West Indies with Lendl Simmons picking up his second half-century of the series but getting out to a return catch by Saeed Ajmal right after reaching the landmark. Left-hander Darren Bravo also showed promise with a patient 47 from 77 balls but yet again the Carribbean team's
middle order folded. Brother Dwayne Bravo got out to a poor shot, failing to deal with a rising ball, and skipper Darren Sammy's disappointing form continued as he was caught by Shehzad attempting a poor slog off Riaz. Riaz and Ajmal finished with three wickets apiece after another good Pakistani performance with the ball. West Indies needed early wickets to have any realistic chance and they got exactly that from Rampaul who picked up Mohammad Hafeez (5) and Ahmed Shehzad and Asad Shafiq for ducks with a spell of lively pace and bounce. But Umar Akmal (30) steadied the ship before a fifth wicket partnership of 78 from Hammas Azam (36) and Misbah pushed Pakistan towards their target. There was time though for a twist in the tale as West Indies' promising leg-spinner Devendra Bishoo picked up three wickets to apply some late pressure with Pakistan at 148 for seven.
Fletcher could come a cropper when tours UK with Indian team LONDON: England off-spinner Graeme Swann has said that new Indian cricket team coach Duncan Fletcher could "come a cropper" if he tries to use his intimate knowledge of players such as Kevin Pietersen and Andrew Strauss against them this summer. "Fletcher knows a few of our players better than some other coaches would," Swann conceded on Thursday, in between bites of halloumi at an Indian restaurant in east London. The Telegraph, however, quoted him, as saying: "But there`s a hell of a lot of our team he doesn`t know at all. I think that will work to our advantage, because he might be trying to double guess us a little bit and come a cropper." Swann also said that he bears no grudge against Fletcher for overlooking him during his time as coach of the England cricket squad between 1999 and 2007. When Fletcher was in charge, he always thought of Swann as an arrogant young off-spinner. "If I (Swann) was a coach 10 years ago, I don`t think I would have picked me, and I wouldn`t have particularly liked me being on that tour," Swann mused. Swann had to wait seven years for that second chance -
seven years in which he swapped the spin-friendly pitches of Northamptonshire for the Test ground of Trent Bridge. He learnt the art of patience and control - qualities that did not come naturally. He finally made his one-day return in September 2007, contributing strongly to a rare England series win in Sri Lanka. But his full blossoming which has carried him to the heights of No 2 in the world rankings - would have to wait until after Andy Flower succeeded Peter Moores early in 2009, and promoted him to England`s first-choice spinner ahead of Monty Panesar. "I`d heard a rumour last week that Andy was taking the India job," Swann said. "I was a bit mortified when I heard that. I love the job he does, because he always picks me." "Then Jimmy Anderson texted me to say that Duncan had been appointed. It`s nice for him to come back to England, because he`s got a fine record with the England team. Now he will get a chance to pit his wits against this new England side during the summer," Swann said. -Online
Misbah, widely criticised for his slow batting display in the World Cup defeat to India, showed his value as a calm and intelligent middle order presence as, together with Riaz, he saw them safely reach their target. Riaz finished off the proceedings with two big sixes but it was his senior partner who rightly won the plaudits. "There was a bit more bounce and pace in there than we were used to. I knew I had to bat through to the end," said Misbah, while skipper Shahid Afridi hinted that there could be some squad rotation for the final two games of the series. Sammy acknowledged that once more West Indies simply didn't set a strong enough target. "As a batting unit, myself included we have to take responsibility in the way that Rampaul and Bishoo did for us with the ball. "We just didn't get enough runs. We've had good starts but we just haven't capitalised on them, we need to be able to rotate the strike in those middle twenty overs," he said. -Reuters
I am not a Delhi-boy anymore: Gambhir NEW DELHI: A disappointed Delhi Daredevils captain Virender Sehwag put the blame on his batsmen for his team`s 17-run loss at the hands of Kolkata Knight Riders. Chasing a modest 148 for seven set by KKR, Daredevils could only manage 131 for nine at the Feroz Shah Kotla ground to slump to their five defeat in the tournament. "We had enough batsmen, but no one took the responsibility to finish the job for the team. I said 150-160 is easily chasable, but KKR bowled well," Sehwag said after the match. Kolkata Knight Riders skipper Gautam Gambhir, on the other hand, was delighted to get back to winning ways after three consecutive defeats. "The guys showed a lot of desperation, we all wanted to win desperately...I never expected so much spin on such a grassy wicket. Everyone contributed in his own way, and if you manage to defend a score of 148 it gives the team a lot of confidence," Gambhir said. "Our bowlers showed what they are made of. My heart and soul is with KKR, I am not a Delhi boy anymore," he added. Man-of-the-match Manoj Tiwary, who guided KKR to the score with a 47-ball unbeaten 61- run knock, said he went out to bat today with the intention of playing the entire 20 overs.
BARBADOS: Pakistani batsman Misbah-ul-Haq (R) and Wahab Riaz celebrate at the end of the third ODI between West Indies and Pakistan at the Kensington Oval in Bridgetown.
Tillakaratne alleges match fixing in SLanka COLOMBO: Former Sri Lanka captain Hashan Tillakaratne came out with startling revelations on Friday, saying that match-fixing was common in the nation's cricketing circles from a long time. "Why were four players changed for the final? If we don't stop this, we will become like Pakistan," he said. Tillakaratne alleged that fixing was being done since 1992 and promised to come out with names in the future. "I can tell this in agreement with my conscience. Match fixing is not something that started happening yesterday or today. According to my knowledge, it happened since 1992. I say this with great responsibility" "I am not saying that this match (the World Cup final) was fixed. But anyway match fixing is something which has been in this country over a period of time. This has spread like a cancer today," Tillakaratne said. "There were threats of this issue being exposed during various times. But it was pushed down by giving money to various people. If the people who were responsible for that are listening to this, I state this today with great responsibility, I will shortly reveal the names of those responsible."
"This situation was always there. When it came out from time to time, it was quietly swept under the carpet. If someone doesn't intervene and stop this menace, within another two-three years in this country, with these politics, with these corrupt administrators, I believe this country won't be second to Pakistan in the near future," added the cricketer turned politician. Tillakaratne was also circumspect about the extensive changes in the team for the final. "Why were four players changed for this match? Those are questions that should be asked. Arjuna (Ranatunga) spoke about this, we who have played cricket talk about this. We were playing an entirely different side." "Why was Mendis removed to put another spinner, Kapugedara was never among runs but he was chosen to replace Chamara Silva. It is not fair, is it?" he questioned. "Someone needs to stop this menace, there is a network, no one can go out of it," Tillakaratne told reporters. He added that money was being paid to many players for being silent. He was the Sri Lankan Test captain for duration of ten matches between 2003 and 2004.-Reuters
Ambati to take spot in Indian test middle order: Harbhajan MUMBAI: Mumbai Indians batsman Ambati Rayudu could take a spot in India's Test middle order once the likes of Rahul Dravid and VVS Laxman move on, Harbhajan Singh said. According to him, Rayudu, who joined Mumbai in 2010 after canceling his contract with the Indian Cricket League, was key to the side's run to the final in the previous season. "He has special talent. He got lost [in domestic cricket] in between and we didn't hear much about him, but he's been playing really well for Mumbai Indians. Last season he was one of the main players who got us into the final, and I can see him playing for India," Harbhajan said. "He's got the capability to fill the shoes of Rahul Dravid or VVS Laxman. That's what I think, in coming years you'll see him going a long way." Harbhajan is looking forward to talking shop with Shane Warne when Mumbai play Rajasthan Royals on Friday. "It [the match] is an opportunity for youngsters like Rayudu and Rohit Sharma to face one of the world's best bowlers ever. Hopefully I'll get some time to talk to him about my bowling and about me going forward in international cricket."
15th national tug of war Cship
WASHINGTON: Venus Williams and Serena Williams pose with VIP guests at the Tennis Ball II gala at the Southeast Tennis and Learning Center. -Reuters
PESHAWAR: The 15th edition of the National Tug-of-War Championship will commence on Saturday here at Qayyum Sports Complex. This was stated by Secretary Pakistan Tug-of-War Federation Rana Muhammad Jamil Agha while addressing a Meet the Press Program arranged by Khyber Union of Journalist here at Press Club on Friday. President of Khyber Pakhtunkhwa Tug-of-War Association Haroon Zafar, Secretary Taj Muhammad, Associate Secretary Pakistan Olympic Association Syed Azhar Ali Shah, President KhUJ Arshad Aziz Malik were also present. He said despite the Tug-of-War is not an Olympic Games it got popularity in the world including Pakistan. He said efforts are under way to re-include the game in Olympic. He also demanded of the Pakistan Sports Board to give affiliation to Tug-ofWar Federation. "Now all the affairs of the games are running by the federation while utilizing all its own resources which is a difficult task to promote the game accordingly," Rana added. He also appealed to President Pakistan Olympic Association Lt. Gen. Arif Hussan and Provincial Minister for Sports Syed Aqil Shah to help the association in this regard. He said that Pakistan Wapda, Pakistan Army, Police, Railways, Punjab, Sindh, Balochistan have arrived in the City. The Khyber Pakhtunkhwa, he said, has taken all appropriate measures in holding the National event in befitting manners. He said after refusal from Sindh Tug-of-War Association to hold it in Karachi due to security reason, the event was shifted to Khyber Pakhtunkhwa on the demand of Provincial Minister Syed Aqil Shah and the Khyber Pakhtunkhwa Tug-of-War Association. -Provinces
US consumer spending rises on higher prices n Prices up 1.8 pct from year-ago, most in 10 months WASHINGTON: U.S. consumer spending rose in March as households stretched to cover higher costs for food and gasoline, with inflation posting its biggest year-on-year rise in 10 months. Despite the rising cost of living, consumers grew a bit optimistic about the economy this month and even dialed down their expectations for inflation over the next five to 10 years, another report showed on Friday. Consumer spending rose 0.6 percent for a ninth straight month of gains, after advancing 0.9 percent in February, the Commerce Department said. But prices rose a stiff 0.4 percent leaving the spending that drives 70 percent of the economy up just 0.2 percent after adjusting for inflation. "The story in the first quarter was higher gas prices are forcing people to spend more at the expense of other items," said Christopher Low, chief economist at FTN Financial in New York. "The inflation burden increased in the quarter, things were progressively worse as you moved from January to March." The Thomson Reuters/University of Michigan's consumer sentiment index rose to 69.8 from 67.5 in March. The survey's
one-year inflation expectation was unchanged at 4.6 percent, but the five-to-10-year inflation outlook slipped to 2.9 percent from 3.2 percent in March. A third report showed factory activity in the country's Midwest slowed this month, potentially indicating some cooling in manufacturing. The Institute for Supply Management-Chicago business barometer dropped to 67.6 in April from 70.6 in March. Economists had forecast an April reading of 68.5. The mixed economic reports had little impact on U.S. financial markets, where strong quarterly earnings from Caterpillar Inc lifted stocks on Wall Street. Prices for U.S. government debt were little changed, while the dollar hovered near a three-year low against a basket of currencies. CONSUMERS RESILIENT The government said on Thursday that consumer spending growth slowed to a 2.7 percent annual rate in the first quarter after a 4 percent rise in the final three months of 2010. That gain, which took into account the spending data released on Friday, was a factor behind a slowing in overall economic growth to a 1.8 percent pace at the start of this year from the 3.1 percent
expansion in the last quarter of 2010. The moderation in spending was not as sharp as economists had feared, showing consumers remained surprisingly resilient in the face of higher prices for food and fuel. Consumers could be put to the test, however, if gasoline prices shoot above $4 a gallon. The national price for regular unleaded gasoline rose 3.5 cents to $3.88 in the week through Monday. Federal Reserve Chairman Ben Bernanke on Wednesday expressed confidence high energy prices would not spark broader inflation, saying gasoline costs should stabilize. Consumer prices rose 0.4 percent in March for a second straight month, according to an inflation gauge in the spending report. Over the past year, price have risen 1.8 percent -- the largest increase since May and an acceleration from the 1.6 percent logged in the 12 months through February. The core PCE index -excluding food and energy slowed to a 0.1 percent increase after rising 0.2 percent in February. Core prices have risen just 0.9 percent over the past 12 months, just a touch above the all-time low of 0.7 percent struck in December. -Reuters
China HSBC PMI hovers near 7-mth low BEIJING: China's manufacturing growth held steady in April and factory inflation, while high, dropped to an eight-month low, a purchasing managers' index showed on Friday. The HSBC PMI, designed to preview conditions in a broad range of industries before official data is released, stood at 51.8 in April, steady from March and just above a sevenmonth low of 51.7 in February. The 50-point level demarcates expansion from contraction. A reading above 50 indicates growth. The report suggested the manufacturing sector in the world's second-biggest economy is growing steadily, rather than booming, a trend expected to be reinforced in official PMI data to be released at 0100 GMT on Sunday. Analysts predict the official PMI will show a rise to 54 in April from 53.4 the previous month. "The results confirmed the picture of steady growth across the manufacturing sector," said Qu Hongbin, an economist at HSBC. "This calls for a continuation of Beijing's tightening efforts in the coming months." The government data shows the factory sector has grown every month for two years, so a wind down in recent months was not a surprise. Some even welcome it as a way to cool prices because the slowdown has come at a time of quickening inflation. The HSBC survey showed prices rising less briskly, but climbing nonetheless: the subindex for input prices fell to an eight-month low of 62.4, well above the 50-point mark.
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Pakistan is in America's own security interests. Al Qaeda found a home in Afghanistan. So right now, it is not the time to cut assistance to either Pakistan or Afghanistan." But Haqqani made it clear that Pakistan does not want to become dependent on American assistance. "I think Pakistan, Afghanistan and the United States will work together," he said in reference to the importance of trilateral process. The ambassador noted that Secretary of State Hillary Clinton is committed to this process and is expected to be in the region. -APP
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Rs5.02 billion paid in the same account in the same period last year. Operating profit surged 44.2 per cent to Rs36.05 billion in this period against Rs24.99 billion in the same period of last year. Furthermore, other operating income also contributed towards profitability of the company, as it surged 61.4 per cent to Rs 3.077 billion compared with Rs1.91 billion previously.
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Pakistan and India normalise some elements try to create differences between both countries through some unfortunate incidents, he said. Cordial relation among Pakistan, Afghanistan and India was need of hour, he said. When asked about alliance between Pakistan Peoples Party (PPP) and Pakistan Muslim League (Q), he said, the alliance between both parties would bring democratic stability in the country. He advised PML-N to include in the reconciliation process. The alliance between PPP and PML-Q would cause no effect on current ruling alliance, he claimed. Political parties are free to join hands with anyone, he said. He said his party would back formation of new provinces in accordance with the constitution. -Agencies
11 Eurozone inflation rises, points to higher ECB rates
Economy & Continuations
Saturday, April 30, 2011
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Council to address the economic issues will be forwarded to the Government for consideration. Furthermore, while talking to Dr Ashraf Ghani, Chairman of Joint Afghan-Nato Board & Advisor to Karzai, Pakistani President said that strong and stable Afghanistan is in the best interest of entire South Asia urging the need to eliminate the menace of terrorism and extremism tooth and nail. According to sources, President Zardari also extended full support to Afghanistan to help it fight against extremism and for its reconstruction and said his country believes that a strong and stable Afghanistan was in the best interest of the entire region. On the other hand, Dr Ashraf Ghani, Chairman of Joint AfghanNATO Intiqar Board & Advisor to Afghan President also called on Chief of Army Staff, General Ashfaq Parvez Kayani at General Headquarters during his visit to the GHQ on Friday. The visiting dignitary remained with him for some time and discussed the matters of mutual interest. Host of issues like war against terrorism, safety of NATO routes, security matters, Nato supplies etc came under discussion. According to sources, Dr Ashraf Ghani highly acclaimed the sacrifices of Pakistan Army in war against terrorism terming it invaluable. Both the high ups urged the need to flush out militancy hence need to further strengthen its bond and relations in this regard. -Agencies
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was weak in the energy sector at present which has led to widening gaps between demand and supply as well as the accumulation of substantial circular debt. Shahid Sattar said that the key to improve performance in the energy sector is development and implementation of a national integrated energy policy, followed by and integrated plan. The Member Energy of Planning Commission said that an energy policy is being devised by the Commission and its implementation will be initiated by December next. "Next steps will be to complete restructuring of power sector, Continued from page 12 No #4 such as strengthening of the ministry of water and power, corpoAnother former Pakistani general who speaks to General ratisation of companies, operationalization of Central Power Kayani said he believed that the Pakistan Army's leader had conPurchasing Agency (CPPA), strengthening of National cluded that the drone campaign should end because it hurt the Transmission and Dispatch Company (NTDC) and a complete army's reputation among the Pakistani public. revamp and strengthening of the regulator", he remarked. The easy access into Afghanistan was on full display last week He added that power sector reforms are being followed by a in Wana, the main town of South Waziristan, according to a local complete overhaul of the petroleum sector entities and policies as resident. well. Shahid Sattar determined that government will eliminate the There, militants loyal to Maulvi Nazir, a Taliban leader who circular debt by June 30, while the existing stock of the debt will maintains a peace agreement with the Pakistani military and be paid off. -APP whose forces often cross into Afghanistan, showed high morale and were moving around freely in front of the Pakistani Army, the Continued from page 1 No #9 resident said. "It looked," he said, "as though the army was giving The four power projects of above 800MW are getting less supthem a free hand." -Online ply of gas against their allocation, the meeting noted. Various proposals were discussed to provide gas to the power Continued from page 12 No #5 sector and the fertiliser plants by SNGPL from the current availRailways was granting 50 per cent concession in economy class ability and adequate cost and financial implication. -Online and 25 per cent concession in all AC classes to senior citizens who attained the age of 65 years. Continued from page 1 No #10 "They can avail the concession in all trains except five non-stop Rangers had already launched several search operations in trains including Millat Express, Karakoram Express, Karachi numerous areas including Baladia Town, Orangi Town and Lyari Express, Islamabad Express and Margala Express," he said. but didn't achieve any vital goal. -Online Replying to another question, he said the fare structure of Continued from page 1 Railways was designed in favor of common people who mostly No #11 travel by economy and air conditioned lower classes. -APP States camped overnight outside the abbey to catch a glimpse of the future king and queen, whose marriage has fueled a feel-good Continued from page 12 No #6 factor that has briefly lifted Britain from its economic gloom. Security Advisor (NSA) Shivshankar Menon before resuming Huge crowds looked on as military bands in black bearskin hats his journey, which will take him to Kabul, Islamabad and Riyadh. and household cavalrymen in shining breastplates escorted the Giving some details of the meeting with Rao, the US envoy said beaming couple in a 1902 open-topped state landau carriage. they discussed the Indo-US global partnership, its future and their More than 8000 journalists descended on London for the event, joint projects in Afghanistan. and the ceremony was streamed live on YouTube, ensuring a "We have a lot of work to do together in Afghanistan and some global audience expected to run into the hundreds of millions. of that work is very important," he said. The crowd entered into the festive spirit on a day when threatRecalling US Secretary of State Hillary Clinton's February speech ened rain failed to materialise by wearing national flags, outat the Asia Society, Grossman said the military surge in Afghanistan landish costumes and even fake wedding dresses and tiaras. has been effective and Taliban has been degraded but his worry was Hundreds of police officers, some armed, dotted the royal that being unable to do much militarily, they might resort to terror- routes in a major security operation. Plain clothes officers mixed ist attacks targeting civilians and Afghan police. -Online
BEIJING: China's manufacturing growth held steady in April and factory inflation, while high, dropped to an eight-month low, a purchasing managers' index showed on Friday. The HSBC PMI, designed to preview conditions in a broad range of industries before official data is released, stood at 51.8 in April, steady from March and just above a sevenmonth low of 51.7 in February. The 50-point level demarcates expansion from contraction. A reading above 50 indicates growth. The report suggested the manufacturing sector in the world's second-biggest economy is growing steadily, rather than booming, a trend expected to be reinforced in official PMI data to be released at 0100 GMT on Sunday. Analysts predict the official PMI will show a rise to 54 in April from 53.4 the previous month. "The results confirmed the picture of steady growth across the manufacturing sector," said Qu Hongbin, an economist at HSBC. "This calls for a contin-
uation of Beijing's tightening efforts in the coming months." The government data shows the factory sector has grown every month for two years, so a wind down in recent months was not a surprise. Some even welcome it as a way to cool prices because the slowdown has come at a time of quickening inflation. The HSBC survey showed prices rising less briskly, but climbing nonetheless: the subindex for input prices fell to an eight-month low of 62.4, well above the 50-point mark. That supports investor bets for China to further raise interest rates in coming months. As it is, annual inflation ran at a 32-month high of 5.4 percent in March, and is widely expected to accelerate to as high as 6 percent by June. The World Bank said on Thursday it was too early for China to halt its policy tightening as it raised its year-average inflation forecast in a quarterly review of the economy. Stubborn price pressures have fed market talk that Beijing could let the yuan rise at a faster clip, or even take
more drastic action such as revaluing the currency or widening its daily trading band. Beijing has not confirmed any of the chatter, although it has demonstrated its appetite for a stronger yuan by guiding it to a record against a sluggish dollar. Markit, a British research firm that compiles the PMI, also highlighted the following findings: Factory output slid to a nine-month low, reflecting weak growth in new businesses. A sub-index for new orders edged up slightly and while it held above 50, the tepid growth was a result of soft demand. Most manufacturers attributed rising input costs to rising prices for raw materials including crude oil and steel. The average time taken by parts suppliers to deliver components to factories lengthened for the 21st consecutive month. Firms surveyed said longer delivery times were a result of a shortage of parts, with Japan's earthquake, tsunami and nuclear disasters causing some of the disruption. -Reuters
Russia raises key rates, prioritises inflation
German retail sales post surprise decline in March
MOSCOW: Russia's central bank raised its key interest rates on Friday, surprising markets with a broad tightening move and signalling that it is ready to let the rouble rise to curb inflation as elections loom. The need to raise rates, the central bank said, came as an increase in consumer prices has proven to be more than just a short-term supply shock caused by last summer's drought, which killed a third of the country's harvest. "The decision was taken in connection with the persistent level of high inflation expectations, which exceed targets for this year," the central bank said in a statement. Although inflation has stabilised somewhat, it remains perilously close to double digits at 9.6 percent -- above the official target of below 7 percent by the end of 2011. Inflation has been become an increasingly political issue as Russia prepares for parliamentary elections in December and a presidential poll next spring in which Prime Minister Vladimir Putin or President Dmitry Medvedev may run. "Probably, a decision that fighting inflation is the priority ahead of elections was taken at the top level," said Dmitry Polevoy, an analyst at ING in Moscow. The Bank of Russia said it would raise its refinancing rate, overnight deposit rates
and a series of other rates by 25 basis points, effective May 3. PRE-EMPTIVE MOVE By raising the benchmark refinancing rate --- which has no direct impact on rouble liquidity -- the central bank signalled its concern about inflation and willingness to tame it, even if this means a stronger currency. The rouble hit a fresh 2-1/2year high against the dollar on the news . The currency has firmed 11 percent versus the greenback already this year, pushed up by rallying oil prices. "The central bank decided to take a pre-emptive step," said Olga Sterina, an economist at UralSib in Moscow. "Everything is directed to battling inflation." The central bank's gradual monetary tightening has been accompanied by other administrative measures, such as clamping down on gasoline prices and a ban on grain exports -- all aimed at keeping prices low and voters happy. But some of the measures have started backfiring. Russia, the world's largest oil producer, faces a regional fuel supply crisis blamed by the industry on regulatory pressure on pump prices, forcing Putin on Thursday into a hurried move to hike gasoline export duties to keep more fuel in the country. -Reuters
BERLIN: German retail sales fell in March, confounding expectations for an increase, as consumers bought fewer groceries and textiles during a month when inflation surpassed the 2 percent threshold. Data published the Federal Statistics Office showed retail sales adjusted for consumer price rises declined by 2.1 percent month-on-month, and by 3.5 percent year-on-year. For the first quarter, sales edged 0.2 percent higher. Retail sales, which only include goods and not services such as tickets for movies or sports events, constitute less than a third of domestic household spending in Germany. Purchases of cars and all filling station purchases are also excluded from the statistics and published separately. The data are prone to revisions, which the Statistics Office attributes to late or incorrect responses. Altogether it surveys every month some 27,000 retailers and car dealerships, whose sales is then extrapolated to arrive at the national figure. Germany's export-driven economy will increasingly find itself relying on household demand for further expansion as fiscal and monetary stimulus is gradually withdrawn around the world and austerity programmes starts to bite. -Reuters
with the masses who were packed behind rails to watch the couple seal their marriage with one sheepish kiss, then another. The day ends with a more intimate dinner for 300 close friends and family. Their honeymoon starts on Saturday and the venue has been kept virtually a state secret. The exuberance of royal fans was not shared throughout Britain. For some, the biggest royal wedding since Diana married Charles in 1981 was an event to forget, reflecting divided opinion about the monarchy. Middleton's dress, the subject of fevered speculation for months in the fashion press, was a traditional ivory silk and satin outfit with a lace applique and flowing train. It was designed by Sarah Burton of the Alexander McQueen label, named after the British designer who committed suicide. The bride wore a tiara loaned by the queen and the diamond and sapphire engagement ring that belonged to Diana, who was divorced from Prince Charles in 1996, a year before her death in a car crash in Paris aged just 36. The royals' cool reaction to Diana's death contrasted with an outpouring of public grief and marked a low point for the family. Some questioned whether the institution, a vestige of imperial glory, had outlived its unifying role in a modern state divided by partisan politics and regional separatism. The queen, other royals, Prime Minister David Cameron, David and Victoria Beckham, the footballer-pop star couple, and singer Elton John were among famous guests at the abbey. Elton John sang "Candle in the Wind" at Diana's funeral in the abbey. They joined 50 heads of state as well as friends, charity workers and war veterans who know the prince from his military career in what commentators said was a more progressive snapshot of modern Britain than previous royal weddings. Middleton has been given the title Her Royal Highness, The Duchess of Cambridge, after the queen made her grandson William the Duke of Cambridge to mark the marriage. William could face a long wait for the throne. His grandmother Queen Elizabeth shows little sign of slowing down at 85 and his father Charles is a fit and active 62-year-old. -Reuters
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back the policy to be devised by Afghanistan itself, he said. Pakistan, he said, is not a responsible state. He welcomed revival of talks between Pakistan and India after Mumbai attack. We are aware of difficulties being faced by masses due to electricity load-shedding, and we are working to tackle power crisis, he claimed. We have decided to convene energy conference to devise strategy to end load-shedding, he said. Answering to a question, he said, he is a Premier of whole country not only Premier of Multan. -Online
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Saturday, April 30, 2011
Steps on to control inflation, says Hina
ISLAMABAD: Ashraf Ghani, Advisor to Afghan President and Chairman of Joint Afghan- NATO Intiqal Board (NANIB) called on President Asif Ali Zardari at Aiwan-e-Sadr. -APP
Petraeus CIA move raises Pak's brows ISLAMABAD: The appointment of General David Petraeus as director of the Central Intelligence Agency puts him more squarely than ever in conflict with Pakistan, whose military leadership does not regard him as a friend and where he will now have direct control over the armed drone campaign that Pakistani military says it wants stopped. According to International Herald Tribune American officials said that General Petraeus's selection could further inflame relations between the two nations, which are already at one of their lowest points, with recriminations over myriad issues aired publicly like never before. The usually secretive leader of the Pakistani Army, Gen Ashfaq Parvez Kayani, has made little secret of his distaste for General Petraeus, calling him a political General. General Petraeus has privately expressed outrage at what American officials say is the Pakistani main spy
Constitution allows new provinces, says Malik ISLAMABAD: Interior Minister Rehman Malik Friday said that the creation of new provinces is not possible without the consent of provincial assemblies of respective areas. Talking to reporters outside the Parliament House, he said the people are demanding new provinces through democratic process and different parties also support their demand and every step regarding new provinces would be taken according to the constitution. Replying to question, he said PPP and PML-Q alliance will strengthen the democratic process and issues will be resolved with consensus. He said PPP leadership is continuing the process of reconciliation with all political parties and talk with PML-Q is in the process. To a question, Malik said President Asif Ali Zardari handed over the powers to the parliament, fulfilling his promise to nation for strengthening the democratic institutions. Replying to reporters, Minister said after taking different measures from securities forces, target killing incidents have been decreased in Karachi. He said terrorists have targeted the Navy busses because their Jawans are fighting against terrorists. Rehman Malik said ensuring peace in the country is top priority of the government and steps are being taken to eliminate the target killers. -APP
agency's most blatant support yet for fighters based in Pakistan who are carrying out attacks against American troops in Afghanistan. Officials on both sides say they expect the two nations' relationship to become increasingly adversarial as they maneuver the endgame in Afghanistan, where Pakistan and the United States have deep and conflicting - security interests, the paper said. Repairing the frayed ties between the CIA and Pakistan's primary spy agency, the Inter-Services Intelligence Directorate, will be difficult, American officials say. "In its current form, the relationship is almost unworkable," said Dennis C Blair, a former American director of national intelligence. "There has to be a major restructuring. The ISI jams the CIA all it wants and pays no penalties." One top adviser to General Petraeus sought to play down the animosity with
Pakistani officials, noting that the general had regularly met with the Pakistanis for nearly three years, most recently on Monday. Still, the adviser acknowledged that with General Petraeus leading the C.I.A., "the pressure may be more strategic, deliberate and focused - to the extent that it can be." Pakistan's military and its intelligence agency are increasingly embarrassed by the United States' drone campaign, which they publicly condemn but quietly allow. They have asked the CIA to remove its personnel from Shamsi Air Base, about 200-mile southwest of Quetta, the capital of Balochistan Province, where some of the drones are based, a senior American official said. The day after Admiral Mullen left Pakistan last week, a drone attack in North Waziristan killed 23 people associated with Hafiz Gul Barhadur, whose forces are fighting Nato in Afghanistan. See # 4 Page 11
Gwadar Port rail link soon: Bilour ISLAMABAD: Minister for Railways Ghulam Ahmed Bilour Friday said that a proposal was under consideration to connect the Gwadar Deep Sea Port through a rail link. He said feasibility study had been completed under which the Gwadar Port was proposed to link with main railway network at Mastung located on Quetta-Taftan section, while the length of proposed railway link would be 901 kilometers. During the question-hour session of the National Assembly, he said negotiations were underway with China to lay the railway track, adding a Chinese company had conducted a survey in this regard while further terms and conditions were yet to be finalised. He said Pakistan Railways was in dire need to get new
locomotives and overhaul the old-ones besides improving infrastructure. This deficiency was causing hours-delay in trains arrival and departure, he added. During the ongoing 30th session of the National Assembly, Bilour had informed the House that the Pakistan Railways had not received the Rs11.6 billion grant approved by the Federal Cabinet even after passage of four months, which was essential to improve its efficiency. Replying to a supplementary question, he said the Ministry was considering a proposal of life-insurance for those people who lost their lives in railrelated incidents. He said the entire railway network was being equipped with modern signaling system, adding Walkie-Talkie Radio
sets had been provided to train guards and relief trains. The Minister said installation of VHF radio set at each station on main line from Peshawar to Karachi had been completed. "Installation of VHF Radio on 280 locomotives running with Mail, Express, Passenger and Goods trains has also been completed," he said. During last four years, he said, around 644 accidents took place over the railway network. Out of these, 45 per cent accidents took place at unmanned and manned-level crossings, he added. He said the train service on Sahiwal to Raiwind track would hopefully start by end of this year. Bilour said that Pakistan See # 5 Page 11
AfPak envoy repeats mantra of ‘do more' NEW DELHI: Making it clear that Pakistan needs to do "more" to deal with the safe havens of terrorists on its soil, US AfPak envoy Marc Grossman Friday said it will help in bringing peace to Afghanistan. On his maiden trip to New Delhi after being appointed in February as US special representative to AfghanistanPakistan, Grossman called on Foreign Secretary Nirupama Rao and held extensive consultations on the situation in the region. "There is always more to do
and we are encouraging Pakistan to do everything possible to deal with the safe havens which will also play a big role in bringing peace to Afghanistan," Grossman told reporters after his meeting with Rao which lasted for nearly one-and-a-half hours, reported PTI. Asked about the recent remarks of chairman of US Joint Chiefs of Staff Mike Mullen accusing Pakistan's ISI of backing the Haqqani network, an Afghan Taliban group, he said, "I have nothing to add or to subtract to whatev-
er Mullen has already said. We do a huge amount of work with Pakistan in countering terrorism and extremism and that's what we will continue doing." Appointed after the sudden death of Richard Holbrooke, Grossman since he was new to the job, it was important for him to come to India and take advantage of the expertise and experience of the "people here". Apart from Rao, he will also be meeting other senior officials, including National See # 6 Page 11
ISLAMABAD: State Minister for Finance, Revenue and Economic Affairs Hina Rabbani Khar Friday apprised the National Assembly that the government is taking all-out efforts to control inflation. Replying to a 'Calling Attention' notice raised by Nisar Tanveer, Malik Shakir Bashir Awan and others regarding manifold increase in the prices of commodities, she said that the inflation could be controlled by tightening monetary and fiscal policies. On monetary side, the government raised interest rate to control inflation despite complaints of private sector, she said, added borrowing from State Bank of Pakistan was also reduced. She said that on fiscal side, massive cuts were made in the various sectors expect law and enforcing and energy sectors to control inflation. Subsidies were being gradually rolled back and the government is going towards targeted subsides for the welfare of poor people, she said. Hina said that massive subsidy was still being given to power and fertiliser sectors. The minister said that Benazir Income Support Programme (BISP) was launched to mitigate sufferings of poor segment of the society and it is a very successful practice. She said that prices of various commodities in the country were comparable in the region. -APP
Sufficient sugar in country: NA told ISLAMABAD: Ministry of Food and Agriculture on Friday informed to Lower House that he sufficient stock of sugar was available in the country. During Question-Hour session Parliamentary Secretary for Food and Agriculture Liaquat Ali Khan said commodity was easily available in all parts of the country at controlled rates, adding the market price of sugar was Rs66 per kilogram. He said the growers were facilitated to enhance sugarcane production by providing inputs like fertiliser, pesticides and herbicides besides provision of agriculture credit on time. He said farmers were advised by Provincial Agriculture Departments to adopt modern production technologies for getting better results. Parliamentary Secretary said that there was a complete monitoring system to ensure timely payment to growers by sugar mills. This year, Liaquat said, around 53.7 million tonnes sugarcane was harvested in different parts of the country, which was 8.7 per cent higher than last year's 49.4 million tons. -APP
Statement on blasphemy law misquoted, says Wali ISLAMABAD: President Awami National Party Asfandyar Wali while clarifying his statement made in India over amendment in blasphemy law has said that his statement was taken out of context, as he has never demanded amendment in blasphemy law. Talking to media outside the Parliament House Friday, he said, he talked about misuse of blasphemy law during his visit to India. Commenting on his meeting with Indian leaders, he said, he has asked Indian leaders to enhance people-to-people contacts between both countries. Whenever relations between See # 3 Page 11
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Pak enjoys cordial US, Afghan ties: Haqqani WASHINGTON: Dismissing media assertions on Islamabad advising Kabul against cooperation with the United States, Pakistan's top diplomat in Washington said quite contrary to such fabrications the three countries are going to hold trilateral talks in early May for progress towards resolution of the Afghan conflict. A three-way meeting in Islamabad is scheduled for May 3, Ambassador Husain Haqqani said and was confident that the three countries would be able to move forward in a spirit of togetherness for a resolution of the decade-old Afghan war. "Very interestingly, only last week Ambassador Grossman and Pakistan's foreign secretary Salman Bashir agreed that they are going to try and create a trilateral mechanism. They are having a meeting in Islamabad on the 3rd of May," Haqqani told CNN in an appearance in the channels' program Situation Room. Pakistan and the United States have some disagreements on the way forward in Afghanistan, just as the Afghans and the United States have, but they are working together. The United States has not failed either of the South Asian neighbors, the Pakistani envoy said in response to a specific question, while denying claims made in a story in The Wall Street Journal and some other parts of the media. Ambassador Haqqani also referred to Admiral Mike Mullen's meetings with Pakistani military leaders and
his own discussion with US Central Command Chief. "We are very clear that this is just internal Afghan politics playing out in American newspapers," he said of the news stories. The Pakistani envoy, answering a question, clarified that Islamabad does not look upon the United States and China as rivals for its friendship. "China is definitely an allweather friend of Pakistan. We have been friends of China since 1949. We were the country that helped the United States and China come close together. "We have never looked upon the United States and China as rivals for our friendship," he said, adding Islamabad respects its friendship with both powers. In the regional context, Haqqani said Pakistan and its western neighbor Afghanistan now enjoy a "warm relationship," in contrast with the past nature of relations. Besides, Pakistan is also working to build good relations with its eastern neighbor India, with whom it had major problems in the past, and which obstructed peace in the region. "We will have a lot of such stories as we move forward. The key thing is that all three players - the United States, Afghanistan and Pakistan understand that the way forward is: we have to defeat some people in Afghanistan and we have to engage certain people." "We want to move forward as partners and friends." He told anchor Wolf Blitzer that the American assistance for See # 1 Page 11
US envoy Munter meets Baloch Sardars
US vows to keep helping Pakistan QUETTA: US ambassador to Pakistan Cameron Munter said that war against terror is a joint war of US and Pakistan, and Pakistan Army and security forces are the front-line forces fighting this war, adding his country would continue to extend its support for economic stability of Pakistan. Talking to media after meeting local Baloch leaders and attending the Baloch Jirga in Quetta, Munter said that the participation in Baloch Jirga was constructive and positive and he was given a first-hand account of the problems being faced by local Baloch Sardars. He said that US government would extend its cooperation for the development of Balochistan and several proj-
ects would be initiated for providing basic facilities to the public. He said that he has great respect from his heart for the Pakistani army, police and other security agencies. "The war on terror is a joint battle of US and Pakistan and we are fighting this war along with Pakistan", Munter said. He said terrorists are targeting Americans and Pakistanis and despite difficulties Pakistan and US are united. Pakistan's future is not linked to aid but linked to social and economic development. The US ambassador said cooperation with Pakistan would continue till establishment of peace and economic stability. -Agencies
PPL 9M profit up 45pc to Rs24.3bn Ghulam Raza Rajani KARACHI: The after tax profit of Pakistan Petroleum Limited (PPL) has increased by 45.5 per cent to Rs24.35 billion in nine months ended on March 31, 2011 compared with Rs16.74 billion earned in the corresponding period of last year. The company's earning per share surged to Rs20.38 against Rs14.01 in the same period a year back, according to financial result sent by the company to KSE. As per TFD analyst, surge in earning mainly driven by hike in oil & gas production by 56 per cent & 2 per cent respectively, 3.8 per cent weighted
average hike in well head gas prices, increase in average price of crude oil during 9MFY11 by 17.3 per cent YoY to 86.27 a barrel against $73.55 a barrel (Arab Light) in 9MFY10 and 61.4 per cent increase in other operating income. According to the financial results, the company's net sales increased to Rs57.88 billion compared to Rs42.74 billion in the same period last year. The company's field's expenditure increased to Rs15.03 billion in this period against Rs12.72 billion in the same period last year. The company paid Rs6.80 billion as royalties against See # 2 Page 11
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