The Financial Daily-Epaper-27-10-2010
12
International SAfrica beat Pakistan by six wickets in T-20 Indonesia tsunami kills 113 See on Page 12 Change tack on India, Pak urged See on Page 12 Full-scale help for B'stan vowed See on Page 12 KARACHI: PM Syed Yusuf Raza Gilani praying after inauguration ceremony of Fauji Akbar Portia Marine Terminal and Fertilizer at Post Qasim. APP ISLAMABAD: Minister for Petroleum and Natural Resources, Syed Naveed Qamar said Tuesday that dur- ing last one year 37 blocks were awarded for gas explo- ration in different areas to meet growing energy requirements of the country. On a question about media reports of increase in petrol prices, he said it is Oil and Gas Regulatory Authority (OGRA) which determines the petrol prices in accordance with international trend. He said process of survey and land acquisition for Pakistan-Iran Gas Pipeline has started and added that Pakistan needs gas and "we cannot afford delay in execution of this major project. Pakistan would suffer in case of delay, he added. "Since taking charge as Minister one year ago, we have awarded 37 blocks for gas exploration which is a record. Previously, this number was only 5 or 6 blocks issued in one year for exploration," In a tele- phonic conversation, the Minister said "We need to be realistic that our production is See # 19 Page 11 Can’t afford IP delay: Qamar Survey and land acquisition for IP starts PM discusses law and order, post-flood measures with CM Staff Reporter KARACHI: Prime Minister Syed Yousuf Raza Gilani has declared that government is committed to the growth and prosperity of the country, and in this regard various plans are in the progress to create con- ducive and investment-friendly environment. Prime Minister expressed these views while inaugurating Cargo Handling and Storage Terminal at Port Qasim here on Tuesday. It has been built at a cost of $135 million to accommodate large vessels. Prime Minister said govern- ment is always seeking new avenues to facilitate and encourage foreign investment through provision of incentives and business-friendly policies in the ports and shipping sector. PM Gilani said the state-of- the-art terminal is a gift to the people of Pakistan as it will help reduce cost, ensure speedy loading and unloading and pre- vent wastage. It will also ensure that agricultural com- modities are handed according to highest international stan- dards. He said ports are vital to eco- nomic development of the country as efficient ports and terminals lower cost of imports, bring revenue through exports, increase foreign exchange and enhance tax collection. He hoped the terminal would help people by reducing food inflation, which is hurting most of the poor people. Prime Minister said Port Qasim is one of the busiest ports, contributing significantly to the economic activity and world class facilities like this terminal would further con- tribute to our GDP. It will help Pakistan achieve its goal of becoming a strategic hub for regional trade. He said Port Qasim can only accommo- date thirty-thousand tonne dry bulk vessels due to outdated terminal and depth of the chan- nel. The new terminal is built to accommodate vessels of seven- ty-five thousand tones capacity. However, due to shallow depth See # 18 Page 11 Pro-investment plans afoot: PM Gilani inaugurates cargo handling terminal at Port Qasim Says govt committed to growth, prosperity of country Obama phones Zardari, moots issues ISLAMABAD: US President Barack Obama telephoned President Asif Ali Zardari Tuesday evening and held a detailed conversation covering several important subjects. Both Presidents welcomed the substantial progress made at the recently concluded Third Round of the Strategic Dialogue and underscored the importance of forging a comprehensive part- nership between the US and Pakistan. President Obama in particular reiterated his strong support for democracy in Pakistan and See # 25 Page 11 *Crude Oil (brent)$/bbl 83.45 *Crude Oil (WTI)$/bbl 82.43 *Cotton $/lb 127.04 *Gold $/ozs 1,333.70 *Silver $/ozs 23.53 Malaysian Palm $ 987.40 GOLD (NCEL) PKR 37,081 KHI Cotton 40Kg PKR 8,895 *Last Updated 20:00 PST Yearly(Jul, 2010 up to 25-Oct-2010) Monthly(Oct, 2010 up to 25-Oct-2010) Daily (25-Oct-2010) Total Portfolio Invest (15 Oct-2010) 75.39 26.17 11.21 2505 1.55 -0.09 -1.39 -0.31 -1.12 1.53 -0.17 SCRA(U.S $ in million) Portfolio Investment FIPI (26-Oct-2010) Local Companies (26-Oct-2010) Banks / DFI (26-Oct-2010) Mutual Funds (26-Oct-2010) NBFC (26-Oct-2010) Local Investors (26-Oct-2010) Other Organization (26-Oct-2010) (U.S $ in million) NCCPL GDR update Commodities Forex Reserves (15-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Sep 10) LSM Growth (Aug 10) GDP Growth FY10E Per Capita Income FY10 Population $17.10bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 170.89mn Economic Indicators Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares) $.Price 2.60 19.10 2.00 1.70 9.95 PKR/Shares 111.55 163.90 42.91 36.47 34.15 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) 20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 12.77% 13.08% 13.22% 13.50% 12.77% 12.99% 13.22% 13.61% 13.71% 13.64% 13.74% 13.83% 14.23% 14.36% 14.52% Money Market Update Symbols Buy (Rs) Sell (Rs) Australian $ 85.10 85.20 Canadian $ 85.10 85.30 Danish Krone 14.80 15.20 Euro 118.60 119.10 Hong Kong $ 11.00 11.30 Japanese Yen 1.050 1.076 Saudi Riyal 22.90 23.10 Singapore $ 65.36 65.60 Swedish Korona 12.20 12.70 Swiss Franc 88.00 88.50 U.A.E Dirham 23.20 23.50 UK Pound 135.50 136.00 US $ 85.90 86.30 Open Mkt Currency Rates Symbols Buying Selling TT Clean TT & OD Australian $ 85.09 85.29 Canadian $ 84.22 84.42 Danish Krone 16.08 16.11 Euro 119.90 120.18 Hong Kong $ 11.07 11.10 Japanese Yen 1.063 1.066 Saudi Riyal 22.91 22.96 Singapore $ 66.39 66.55 Swedish Korona 13.06 13.09 Swiss Franc 88.38 88.59 U.A.E Dirham 23.39 23.45 UK Pound 135.13 135.44 US $ 85.81 85.99 Inter-Bank Currency Rates Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com www.thefinancialdaily.com CITIES MAX-TEMP MIN ISLAMABAD 28°C 9°C KARACHI 35°C 21°C LAHORE 30°C 15°C FAISALABAD 31°C 14°C QUETTA 24°C 0°C RAWALPINDI 29°C 11°C Weather Forecast Index Close Change KSE 100 10,658.15 45.56 Nikkei 225 9,377.38 23.78 Hang Seng 23,601.24 26.67 Sensex 30 20,221.39 81.73 ADX 2,826.30 6.79 SSE COMP. 3,041.54 9.88 FTSE 100 5,705.96 46.02 *Dow Jones 11,155.00 9.05 *Last Updated 20:00 PST Global Indices ISLAMABAD: The Supreme Court of Pakistan on Tuesday directed the counsel for the ministry of water and power to submit till Oct 28, complete record regarding bid- dings, determination of tariff and enhanced demand for power generation pertaining to the rental power plants (RPPs) issue. A three-member bench comprises Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil-ur-Rehman Ramday took up a human rights issue concerning setting up of rental power plants. The bench questioned how the demand for power genera- tion of 200 megawatts through RPPs, which had been decided in a Cabinet meeting on March 27, 2008, could be enhanced up to 438 megawatts. "In 2006, it was a policy which was not successful and we wanted to know was it a part of the present policy? All contracts have policy standards but here we do not see such things," he added. Chief Justice said it was Court's duty to ensure imple- mentation of fundamental rights. Furthermore, Supreme Court of Pakistan granted time to the Attorney General for Pakistan (AGP) on the issue of promulgation of National Accountability Amended Ordinance (NAO) 2010. A three-member bench com- prising Justice Tassadduq Hussain Jillani, Justice Khilji Arif Hussain and Justice Asif Saeed Khan Khosa adjourned hearing till next week on a con- stitutional petition filed by Syed Zafar Ali Shah, senior lawyer. An identical plea of Shahid Orakzai was also fixed before the bench. Attorney General Maulvi Anwar-ul-Haq apprised the bench that he was out of the country and arrived yesterday therefore, he required some time over the issue. -Agencies SC seeks documentations of RPPs SC grants time to AG in amended National Accountability (Amended) Ord case Karachi, Wednesday, October 27, 2010, Zul-Qa’dah 18, Price Rs12 Pages 12 Staff Reporter KARACHI: Despite govern- ment's tall claims of dealing the pressing problems in the country from rehabilitation of flood-affected to declining financial situation, corruption remains an obstacle to attain much needed output. This was revealed in the lat- est edition of Transparency International Report released here Tuesday depicting Pakistan's stepping down to the rank of 34th from previous 42nd in the index indicating serious corruption problems. Pakistan's Corruption Perceptions Index score was 2.3 against 2.4 in 2009 and out of 178 countries its ranking slipped down 7 ranks while nearly three quarters of the countries - listed in the Index - score below 5 points on a scale from 0-to-10, where 0 indi- cates to be highly corrupt and 10 stands for low levels of cor- ruption. Chairman, Transparency International, Pakistan chapter Syed Adil Gilani while talking to the media here said that last two years proved to be the worst where tens of billions of corruption cases came to fore in public sector organisations, which should have been taken by the National Accountability Bureau but due to delay in the formation of an independent Accountability Commission from the government side the situation may further aggravate the corruption. "Lack of political will forced Supreme Court of Pakistan to intervene by taking suo moto actions against mega corruption charges in NICL, PSM, and RPPs," Gilani added. Gilani said "Due to rampant corruption commodities prices are continuously on the rise and according to the FBS data prices of the essentials have gown up by 120 per cent in last one year." "Foreign Direct Investment is also waning due to See # 22 Page 11 Corruption on rise in Pak: TI Pakistan 34th among world's most corrupt Lack of political will forces SC suo moto actions Rule of law, easy access to justice needed: Gilani ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has accorded approval to present Reformed-GST (RGST) Bill in National Assembly (NA) session start- ing from November, 1 for its approval from parliament. RGST bill which is being presented in mini bill will be applicable from November, 1. Earlier it was to be implement- ed from October, 1. However the international monetary agencies had shown willingness for its deferment for 3 months in the wake of devastations caused by the floods. According to Prime Minister House sources FBR through ministry of finance had sent a summary to prime minister for his approval and the prime minister nodded yes on Tuesday. The provinces have also agreed over this bill and it will stand implemented across the country simultaneously. Furthermore, Prime Minister Syed Yousuf Raza Gilani will chair the federal cabinet meet- ing in Lahore on Wednesday (today). During the meeting Cabinet is likely to give the approval of implementation of the GST reforms. According to sources of PM House, several issues including rehabilitation of flood affectees and law and order situation especially the uncertainty in the country after recent bomb blasts series at shrines would be discussed in meeting. As per sources that Foreign Minister Shah Mahmood See # 23 Page 11 RGST Bill to be tabled on Nov 1 PM Gilani says yes to the tax reforms Cabinet takes stock of issues today Tareq Aziz sentenced to gallows BAGHDAD: Iraq's supreme criminal court sentenced for- mer deputy prime minister Tareq Aziz to death on Tuesday, the first death sen- tence handed down against the long-time international face of the Saddam Hussein regime. "The supreme criminal court issued an execution order against Tareq Aziz for his role in eliminating religious par- ties," state television reported. It said that the court also ordered death sentences against two other top Saddam lieu- tenants, former interior minis- ter Saadoun Shaker and Abid See # 24 Page 11 'Q' voted me to become PM: Gilani KARACHI: Prime Minister Syed Yousuf Raza Gilani has said that PML-Q had supported him in becoming prime minister. "There is no harm in having meetings with PML-Q. It had cast vote in my favor during election for premiership. Therefore we are going ahead with the spirit of reconciliation. Law minister meeting with PML-Q leader is not number game", prime minister said this while talking to media men after his visit to shrine of Abdullah Shah Ghazi here Tuesday. Those who had installed rental power plants had fled; he said, adding 1700 megawatt electricity will come in the system by the end of this year. See # 17 Page 11 Special Correspondent NEW YORK: After utter failure of Government of Pakistan in getting the full advantage from Nasdaq trade screen, and its closing bell service, now Pakistani busi- ness community in United Sates of America decided to step in to help out their flood-affected brethren in Pakistan. Pakistani Business Community in US is now tak- ing an initiative to fundraise for the flood-affected by organising a program on October 29th by using the services offered by Nasdaq. These details were disclosed by Waqar Ali Khan, Vice Chairman US-Pakistan Business Council while talking to The Financial Daily here. Nageeb Ghauri of NetSol is playing the key role in this campaign. According the Pakistani See # 20 Page 11 Pak businessmen in US step in for flood relief Nasdaq trade screen, closing bell ceremony to be used for donation appeal
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The Financial Daily Epaper
Transcript of The Financial Daily-Epaper-27-10-2010
International
SAfrica beat Pakistan by six wickets in T-20
Indonesia tsunami kills 113 See on Page 12
Change tack on India, Pak urged See on Page 12
Full-scale helpfor B'stan vowed
See on Page 12
KARACHI: PM Syed Yusuf Raza Gilani praying after inauguration ceremony of Fauji Akbar
Portia Marine Terminal and Fertilizer at Post Qasim. APP
ISLAMABAD: Minister forPetroleum and NaturalResources, Syed NaveedQamar said Tuesday that dur-ing last one year 37 blockswere awarded for gas explo-ration in different areas to meetgrowing energy requirementsof the country.
On a question about mediareports of increase in petrolprices, he said it is Oil and GasRegulatory Authority (OGRA)which determines the petrolprices in accordance withinternational trend.
He said process of surveyand land acquisition for
Pakistan-Iran Gas Pipeline hasstarted and added that Pakistanneeds gas and "we cannotafford delay in execution ofthis major project. Pakistanwould suffer in case of delay,he added.
"Since taking charge asMinister one year ago, we haveawarded 37 blocks for gasexploration which is a record.Previously, this number wasonly 5 or 6 blocks issued in oneyear for exploration," In a tele-phonic conversation, theMinister said "We need to berealistic that our production is
See # 19 Page 11
Can’t afford IPdelay: Qamar
Survey and land acquisition for IP starts
PM discusseslaw and order,post-flood
measures with CM
Staff Reporter
KARACHI: Prime MinisterSyed Yousuf Raza Gilani hasdeclared that government iscommitted to the growth andprosperity of the country, andin this regard various plans arein the progress to create con-ducive and investment-friendlyenvironment.
Prime Minister expressedthese views while inauguratingCargo Handling and StorageTerminal at Port Qasim here onTuesday.
It has been built at a cost of$135 million to accommodatelarge vessels.
Prime Minister said govern-ment is always seeking newavenues to facilitate andencourage foreign investmentthrough provision of incentivesand business-friendly policiesin the ports and shipping sector.
PM Gilani said the state-of-the-art terminal is a gift to thepeople of Pakistan as it will
help reduce cost, ensure speedyloading and unloading and pre-vent wastage. It will alsoensure that agricultural com-modities are handed accordingto highest international stan-dards.
He said ports are vital to eco-nomic development of thecountry as efficient ports andterminals lower cost of imports,bring revenue through exports,increase foreign exchange andenhance tax collection.
He hoped the terminal wouldhelp people by reducing foodinflation, which is hurting mostof the poor people.
Prime Minister said Port
Qasim is one of the busiestports, contributing significantlyto the economic activity andworld class facilities like thisterminal would further con-tribute to our GDP.
It will help Pakistan achieveits goal of becoming a strategichub for regional trade. He saidPort Qasim can only accommo-date thirty-thousand tonne drybulk vessels due to outdatedterminal and depth of the chan-nel.
The new terminal is built toaccommodate vessels of seven-ty-five thousand tones capacity.However, due to shallow depth
See # 18 Page 11
Pro-investmentplans afoot: PM
Gilani inaugurates cargo handling terminal at Port Qasim
Says govt committed to growth, prosperity of country
Obama phonesZardari,mootsissues
ISLAMABAD: US PresidentBarack Obama telephonedPresident Asif Ali ZardariTuesday evening and held adetailed conversation coveringseveral important subjects.
Both Presidents welcomed thesubstantial progress made at therecently concluded Third Roundof the Strategic Dialogue andunderscored the importance offorging a comprehensive part-nership between the US andPakistan.
President Obama in particularreiterated his strong support fordemocracy in Pakistan and
See # 25 Page 11
*Crude Oil (brent)$/bbl 83.45
*Crude Oil (WTI)$/bbl 82.43
*Cotton $/lb 127.04
*Gold $/ozs 1,333.70
*Silver $/ozs 23.53
Malaysian Palm $ 987.40
GOLD (NCEL) PKR 37,081
KHI Cotton 40Kg PKR 8,895
*Last Updated 20:00 PST
Yearly(Jul, 2010 up to 25-Oct-2010)
Monthly(Oct, 2010 up to 25-Oct-2010)
Daily (25-Oct-2010)
Total Portfolio Invest (15 Oct-2010)
75.39
26.17
11.21
2505
1.55
-0.09
-1.39
-0.31
-1.12
1.53
-0.17
SCRA(U.S $ in million)
Portfolio Investment
FIPI (26-Oct-2010)
Local Companies (26-Oct-2010)
Banks / DFI (26-Oct-2010)
Mutual Funds (26-Oct-2010)
NBFC (26-Oct-2010)
Local Investors (26-Oct-2010)
Other Organization (26-Oct-2010)
(U.S $ in million)
NCCPL
GDR update
Commodities
Forex Reserves (15-Oct-10)
Inflation CPI% (Jul 10-Sep 10)
Exports (Jul 10-Sep 10)
Imports (Jul 10-Sep 10)
Trade Balance (Jul 10-Sep 10)
Current A/C (Jul 10- Sep10)
Remittances (Jul 10-Sep 10)
Foreign Invest (Jul 10-Sep10)
Revenue (Jul 10-Sep 10)
Foreign Debt (Jun 10)
Domestic Debt (Aug 10)
Repatriated Profit (Jul- Sep 10)
LSM Growth (Aug 10)
GDP Growth FY10EPer Capita Income FY10Population
$17.10bn
13.77%
$5.18bn
$9.03bn
$(3.85)bn
$(545)mn
$2.65bn
$455.10mn
Rs 310bn
$55.63bn
Rs 4863bn
$124.90mn
-3.85%
4.10%
$1,051
170.89mn
Economic Indicators
Symbols
MCB (1 GDR= 2 Shares)
OGDC (1 GDR= 10 Shares)
UBL (1 GDR= 4 Shares)
LUCK (1 GDR= 4 Shares)
HUBC (1 GDR= 25 Shares)
$.Price
2.60
19.10
2.00
1.70
9.95
PKR/Shares
111.55
163.90
42.91
36.47
34.15
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)
20-Oct-2010
20-Oct-2010
20-Oct-2010
29-Sep-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
26-Oct-2010
12.77%
13.08%
13.22%
13.50%
12.77%
12.99%
13.22%
13.61%
13.71%
13.64%
13.74%
13.83%
14.23%
14.36%
14.52%
Money Market Update
Symbols Buy (Rs) Sell (Rs)
Australian $ 85.10 85.20
Canadian $ 85.10 85.30
Danish Krone 14.80 15.20
Euro 118.60 119.10
Hong Kong $ 11.00 11.30
Japanese Yen 1.050 1.076
Saudi Riyal 22.90 23.10
Singapore $ 65.36 65.60
Swedish Korona 12.20 12.70
Swiss Franc 88.00 88.50
U.A.E Dirham 23.20 23.50
UK Pound 135.50 136.00
US $ 85.90 86.30
Open Mkt Currency Rates
Symbols Buying Selling
TT Clean TT & OD
Australian $ 85.09 85.29
Canadian $ 84.22 84.42
Danish Krone 16.08 16.11
Euro 119.90 120.18
Hong Kong $ 11.07 11.10
Japanese Yen 1.063 1.066
Saudi Riyal 22.91 22.96
Singapore $ 66.39 66.55
Swedish Korona 13.06 13.09
Swiss Franc 88.38 88.59
U.A.E Dirham 23.39 23.45
UK Pound 135.13 135.44
US $ 85.81 85.99
Inter-Bank Currency Rates
Subscribe now
Tel: 92-21-5311893-6Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
CITIES MAX-TEMP MIN
ISLAMABAD 28°C 9°C KARACHI 35°C 21°C LAHORE 30°C 15°C FAISALABAD 31°C 14°C QUETTA 24°C 0°C RAWALPINDI 29°C 11°C
Weather Forecast
Index Close Change
KSE 100 10,658.15 45.56
Nikkei 225 9,377.38 23.78
Hang Seng 23,601.24 26.67
Sensex 30 20,221.39 81.73
ADX 2,826.30 6.79
SSE COMP. 3,041.54 9.88
FTSE 100 5,705.96 46.02
*Dow Jones 11,155.00 9.05
*Last Updated 20:00 PST
Global Indices
ISLAMABAD: TheSupreme Court of Pakistan onTuesday directed the counselfor the ministry of water andpower to submit till Oct 28,complete record regarding bid-dings, determination of tariffand enhanced demand forpower generation pertaining to
the rental power plants (RPPs)issue. A three-member benchcomprises Chief JusticeIftikhar Muhammad Chaudhry,Justice Ghulam Rabbani andJustice Khalil-ur-RehmanRamday took up a humanrights issue concerning settingup of rental power plants.
The bench questioned how
the demand for power genera-tion of 200 megawatts throughRPPs, which had been decidedin a Cabinet meeting on March27, 2008, could be enhancedup to 438 megawatts.
"In 2006, it was a policywhich was not successful andwe wanted to know was it apart of the present policy? All
contracts have policy standardsbut here we do not see suchthings," he added.
Chief Justice said it wasCourt's duty to ensure imple-mentation of fundamentalrights. Furthermore, SupremeCourt of Pakistan granted timeto the Attorney General forPakistan (AGP) on the issue of
promulgation of NationalAccountability AmendedOrdinance (NAO) 2010.
A three-member bench com-prising Justice TassadduqHussain Jillani, Justice KhiljiArif Hussain and Justice AsifSaeed Khan Khosa adjournedhearing till next week on a con-stitutional petition filed by
Syed Zafar Ali Shah, seniorlawyer. An identical plea ofShahid Orakzai was also fixedbefore the bench. AttorneyGeneral Maulvi Anwar-ul-Haqapprised the bench that he wasout of the country and arrivedyesterday therefore, herequired some time over theissue. -Agencies
SC seeks documentations of RPPsSC grants time to AG in amended National Accountability (Amended) Ord case
Karachi, Wednesday, October 27, 2010, Zul-Qa’dah 18, Price Rs12 Pages 12
Staff Reporter
KARACHI: Despite govern-ment's tall claims of dealingthe pressing problems in thecountry from rehabilitation offlood-affected to decliningfinancial situation, corruptionremains an obstacle to attainmuch needed output.
This was revealed in the lat-est edition of TransparencyInternational Report releasedhere Tuesday depictingPakistan's stepping down to therank of 34th from previous42nd in the index indicatingserious corruption problems.
Pakistan's CorruptionPerceptions Index score was2.3 against 2.4 in 2009 and out
of 178 countries its rankingslipped down 7 ranks whilenearly three quarters of thecountries - listed in the Index -score below 5 points on a scalefrom 0-to-10, where 0 indi-cates to be highly corrupt and10 stands for low levels of cor-ruption.
Chairman, TransparencyInternational, Pakistan chapterSyed Adil Gilani while talkingto the media here said that lasttwo years proved to be theworst where tens of billions ofcorruption cases came to forein public sector organisations,which should have been takenby the National AccountabilityBureau but due to delay in theformation of an independent
Accountability Commissionfrom the government side thesituation may further aggravatethe corruption.
"Lack of political willforced Supreme Court ofPakistan to intervene by takingsuo moto actions against megacorruption charges in NICL,PSM, and RPPs," Gilaniadded.
Gilani said "Due to rampantcorruption commodities pricesare continuously on the riseand according to the FBS dataprices of the essentials havegown up by 120 per cent in lastone year."
"Foreign Direct Investmentis also waning due to
See # 22 Page 11
Corruption onrise in Pak: TI
Pakistan 34th among world's most corrupt
Lack of political will forces SC suo moto actions
Rule of law, easy access to justice needed: Gilani
ISLAMABAD: PrimeMinister Syed Yousuf RazaGilani has accorded approvalto present Reformed-GST(RGST) Bill in NationalAssembly (NA) session start-ing from November, 1 for itsapproval from parliament.
RGST bill which is beingpresented in mini bill will beapplicable from November, 1.Earlier it was to be implement-ed from October, 1.
However the internationalmonetary agencies had shownwillingness for its defermentfor 3 months in the wake ofdevastations caused by thefloods.
According to Prime MinisterHouse sources FBR throughministry of finance had sent asummary to prime minister forhis approval and the primeminister nodded yes on
Tuesday.The provinces have also
agreed over this bill and it willstand implemented across thecountry simultaneously.
Furthermore, Prime MinisterSyed Yousuf Raza Gilani willchair the federal cabinet meet-ing in Lahore on Wednesday(today).
During the meeting Cabinetis likely to give the approval ofimplementation of the GSTreforms.
According to sources of PMHouse, several issues includingrehabilitation of flood affecteesand law and order situationespecially the uncertainty inthe country after recent bombblasts series at shrines wouldbe discussed in meeting.
As per sources that ForeignMinister Shah Mahmood
See # 23 Page 11
RGST Bill to betabled on Nov 1
PM Gilani says yes to the tax reforms
Cabinet takes stock of issues today
Tareq Azizsentenced to gallows
BAGHDAD: Iraq's supremecriminal court sentenced for-mer deputy prime ministerTareq Aziz to death onTuesday, the first death sen-tence handed down against thelong-time international face ofthe Saddam Hussein regime.
"The supreme criminal courtissued an execution orderagainst Tareq Aziz for his role
in eliminating religious par-ties," state television reported.
It said that the court alsoordered death sentences againsttwo other top Saddam lieu-tenants, former interior minis-ter Saadoun Shaker and Abid
See # 24 Page 11
'Q' voted me tobecome PM: Gilani
KARACHI: Prime Minister Syed Yousuf Raza Gilani has saidthat PML-Q had supported him in becoming prime minister.
"There is no harm in having meetings with PML-Q. It had castvote in my favor during election for premiership. Therefore weare going ahead with the spirit of reconciliation.
Law minister meeting with PML-Q leader is not numbergame", prime minister said this while talking to media men afterhis visit to shrine of Abdullah Shah Ghazi here Tuesday.
Those who had installed rental power plants had fled; he said,adding 1700 megawatt electricity will come in the system by theend of this year. See # 17 Page 11
Special Correspondent
NEW YORK: After utterfailure of Government ofPakistan in getting the fulladvantage from Nasdaq tradescreen, and its closing bellservice, now Pakistani busi-ness community in UnitedSates of America decided to
step in to help out theirflood-affected brethren inPakistan.
Pakistani BusinessCommunity in US is now tak-ing an initiative to fundraisefor the flood-affected byorganising a program onOctober 29th by using theservices offered by Nasdaq.
These details were disclosedby Waqar Ali Khan, ViceChairman US-PakistanBusiness Council while talkingto The Financial Daily here.
Nageeb Ghauri of NetSol isplaying the key role in thiscampaign.
According the Pakistani See # 20 Page 11
Pak businessmen in USstep in for flood relief
Nasdaq trade screen, closing bell ceremony to be used for donation appeal
2 Wednesday, October 27, 2010
TV PROGRAMMES
WEDNESDAY
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LAHORE: The StateBank of Pakistan (SBP)annual report is an eye-opener for both the policymakers and stakeholdersand calls for effectivepolicies with top-to-bot-tom implementationmechanism to regainmacroeconomic stabilityduring the ongoing year.
In a joint statementissued here Tuesday, theLCCI President ShahzadAli Malik, Senior VicePresident SheikhMohammad Arshad andVice President SohailAzhar said that the exist-ing structural weaknessesin the economy, pointed
out by the State Bank ofPakistan, requireimprovement in macro-economic discipline aswell as continued reformsto improve the resilienceof the economy.
The LCCI office-bearerssaid that the governmentshould focus on improv-ing productivity, strength-ening of public institu-tions, stabilisation of eco-nomic governance andbuilding social safety netsto protect vulnerable seg-ments of the population.
They said that becauseof the recent devastatingfloods in the country, var-ious FY11 macroeconom-
ic targets have sufferedserious setbacks and thegovernment would not beable to achieve chief eco-nomic targets such asGDP, inflation, monetarygrowth, fiscal deficit, andcurrent account deficitunless and until a wellthought-out strategy isevolved in consultationwith trade and industryrepresentatives.
The LCCI office-bearerssaid that the government'sinability to restructure therevenue-sucking publicsector enterprises, and thefailure to resolve circulardebt was also hitting theeconomy hard.-APP
LCCI to followSBP directives
ISLAMABAD: Ministerfor Food and Agriculture,Nazar Muhammad Gondalhas said the implementa-tion process of approvedagricultural developmentprojects under Pakistan-USStrategic Dialogue willstart from next month.
Highlighting the areas ofbilateral cooperation inagriculture sector duringthe talks, the minister said,it dwelt on increasingwheat and cotton produc-tion and controlling theirdiseases in Pakistan, watermanagement and watershortage, provision of seedand fertiliser to help boostthe agricultural sector.
In an interview, he saidallocations were alsoapproved for various agri-cultural projects including$9 million for wheat pro-duction and rust diseaseprevention, $9 million forcotton production and dis-ease prevention, the sameamount for prevention offood and disease in live-stock and some other pro-grammes.
Nazar Gondal, who wasalso part of the delegationthat attended the Dialoguein Washington, said theprojects would also befinanced under Kerry-Lugar Bill and USAid.
"We had informed the
US our needs and theytried to meet our demandsas per their resources. Wehave always talked abouttrade not aid. We are tryingto further strengthen ourtrade with US," he said,adding that during dia-logue, mangoes export tothe US had also beenaccorded approval.
Answering a question, hesaid grants for water man-agement and water short-age projects had alreadybeen approved and evenallocation for these proj-ects had been earmarked.The implementation workon these projects wouldstart soon, he added.-APP
Agro-projects start next monthKARACHI: Sindh
Governor Dr Ishrat-ul-Ebad Khan said onTuesday that the attentionof the government is oncleansing the metropolis ofevery sort of `mafias'.
An official statementsaid that he was talking toa delegation of the shop-keepers of ShershahMarket at the GovernorHouse here on Tuesday.
The Governor said thatthe tragic event atShershah Market shockedthe entire country.
He stated that the coali-tion parties and the law
enforcement agencies wereworking on variousoptions to rid the city ofthe menace of terrorism.
The delegation of tradersapprised the Governor ofthe details of the incidentand requested that securityarrangements be made onpermanent basis.
The Governor assuredthe members of the delega-tion that the pickets ofpolice and rangers wouldbe set up.
He also informed aboutthe measures that havebeen taken by the SindhGovernment so far.-APP
Shershah traderscall on Governor
Staff Correspondent
ISLAMABAD: AsSecretary Clintonannounced during theStrategic Dialogue inWashington, DC last week,the US Embassy is spon-soring journalists to attendprofessional developmentprograms in the UnitedStates.
The program willinclude an orientation pro-gram in Washington, DCfollowed by individualinternships at US mediaoutlets throughout thecountry. The US Embassyis sponsoring approximate-ly 100 Pakistan partici-pants to travel to Americain 2011 and 2012.Additionally, the programwill bring US journalists toPakistan for programs with
Pakistani colleagues."This program will
involve journalists fromboth Pakistan and theUnited States workingtogether and building realprofessional relation-ships," said Brent Beemer,Cultural Attaché. "Thesejournalists will have theopportunity to learn aboutmedia reporting in eachother's countries, and toreport back to their audi-ences about what they seeand experience firsthand."
The United StatesEducational Foundation inPakistan is recruiting andaccepting applications forthe program. English andnon-English speaking, pro-fessional working journal-ists are eligible, and youngjournalists are particularlyencouraged to apply.
Pak mediamento be trainedin America
KARACHI: Sindh Ministerfor Tourism Shazia Marrihas directed the concernedauthorities to pace-up thework on Gorakh Hill Resortto provide recreational facil-ities of a hill station to thepeople of the province.
This she directed whilepresiding over a meeting toreview the progress of workon the scheme, at her office,here today. The SecretaryTourism Sindh RabiyaJaveri Agha, the Director
General, Gorakh HillDevelopment Authority(GHDA) Abdul QadirMangi, Director FinanceDilawar Mangi and DeputySecretary Tourism WaliMuhammad Qureshi attend-ed the meeting.
The meeting was told thatSindh Tourism Departmentis working for the develop-ment of an eco-friendlysummer resort at GorakhHills situated in the DaduDistrict.-APP
Marri forspeedy work
at Gorakh Hill
LAHORE: A facilitationMoU was signed betweenChina World PeaceFoundation (CWPF)through its Chairman, DrLi Rou Hong and PunjabBoard of Investment andTrade (PBIT) through itsChief Executive Officer(CEO), Saadat Muzaffar.
Punjab Board ofInvestment and Trade(PBIT) is facilitating for-eign investors interestedin exploring investment,trade opportunities in
Punjab.According to a press
release on Tuesday,Chinese investors showedtheir interest in infrastruc-ture projects, includingroads, housing and air-ports in different cities ofPunjab.
Likewise, CWPF alsoshowed keen interest inlivestock and dairy devel-opment, including valueaddition, dairy relatedcommodities (inclusive ofmilk processing) and
improving the genetics ofcattle herd for obtaininghigher lactation in milkand beef breed animals.
Chinese foundationwould also initiate energyprojects with a particularfocus on solar energy andextraction of iron ore inPunjab.
The purpose of theMoU signed is to providethe framework for a part-nership arrangementbetween PBIT andCWPF.-App
Chinese foundationto invest in Punjab
M Imran Sharif
KARACHI: Members ofKarachi Chambers andCommerce Industries(KCCI) have vehementlyrejected the decision ofSSGC to do the annualturnaround for ZamzamaGasfield, resulting in theshortage of gas supply,from Oct 27 to Nov 4, saida joint statement issuedhere.
Chairman BusinessmenGroup & formerPresident-KCCI, SirajKassam Teli; ViceChairmen Businessmen
Group & formerPresidents-KCCI, TahirKhaliq; M ZubairMotiwala, Haroon Farookiand Anjum Nisar,Muhammad Saeed Shafiq,President, KarachiChamber of Commerce &Industry; Talat Mahmood,Senior Vice President andJunaid Esmail Makda,Vice President KCCItermed the gas-cut as astrange activity heard forthe first time in 62 yearsand apparently to be doneevery year on annualbasis.
The massive load shed-
ding of 10-14 hours aris-ing because of annualturnaround would furthercripple the economicwheel as it simply suggestindustries and manufac-turing concerns to closefacilities for the designat-ed eight-days.
SSGC is suggestingKESC to run on furnaceoil which is not a possibil-ity as the furnace oil avail-able is not of that quality/quantity and secondlyPSO only supplies on cashbasis, the statement said.
The business and indus-trial community forcefully
reject such kind of activityand request the President,Asif Ali Zardari, PrimeMinister, Yousuf RazaGillani and FederalMinister for Water andPower, Raja Pervez Ashrafto look into the matter onurgent basis and deferturnaround period to thewinter season (Dec-Jan)when the electricity loadis cut by 10-15 per centand the load on KESCwould be comparativelyless when such activitycould be accommodatedwith less hours ofannounced load shedding.
'Turnaround in Zamzama field would cripple industries'
KCCI rejects SSGC gas-cut decision
WEDNESDAY
Time Programmes
8:00 Chai Time (Rpt)
9:00 News
9:15 Pehla Sauda
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Tara Dawoodto lead MFassociation
in ChileKARACHI: The CEO,Dawood CapitalManagement Tara UzraDawood been invited asspeaker and expert onIslamic Financial Systemand practitioners in MutualFund industries to repre-sent Mutual FundsAssociation of Pakistan.
She also made substantialcontribution in 15th AsiaOceania RegionalConference 2010, that washeld in Malaysia, this year.
The World WideInternational InvestmentFunds Association (IIFA)Conference with the repre-sentation of 64 CountriesMutual Fund Associationbeing held in Viña del Mar,Chile.-PR
Fatimid, SUset up blood
donationcamp
HYDERABAD: TheFatimid FoundationHyderabad in collaborationwith The Bureau of StagsUniversity of Sindh organ-ised a Blood DonationCamp at Allama I I KaziCampus Jamshoro onTuesday.
A large number of maleand female students andteachers visited the blooddonation camp. Around 30male and female studentsas well as teachers donatedtheir blood.
Administrator of FatimidFoundation Dr Rab NawazMemon, Advisor of theBureau of STAGS ProfMuhammad Yousif Pardesiand others supervised thearrangements.-APP
Sugaradvisory
boardmeeting heldISLAMABAD: The SugarAdvisory Board (SAB)meeting was held here onTuesday under the chair-manship of FederalMinister for Industries andProduction Mir HazarKhan Bijarani.
The meeting was given adetailed presentation byCane CommissionerMINFA on the post floodsituation.-APP
Dawlancebrings
automatedwashingmachine
Staff Reporter
KARACHI: Dawlancerecently launched its lat-est H-Zone range auto-matic washing machine,enhancing their categoryrange a step firther.
Speaking about thelaunch of Dawlance H-Zone Automatic WashingMachine, MehmoodAhmed CategoryManager WashingMachines said,"Dawlance H-ZoneWashing Machine is abreakthrough in washingtechnology. The newfront load H-Zone auto-matic washing machinewith the Air Wash featuresterilises the clotheswhich cannot be cleanedon a frequent basis."
This machine, apartfrom functioning as aregular automatic wash-ing machine, has a revo-lutionary Air Wash fea-ture that turns air intoOzone (O3) to sterilize,kill bacteria and removeodour from products likecushions, school bags,gloves, leather jackets,hand bags, high heels,business suits, delicatewomen's clothes andstuffed toys.
BOCappoints
new ChiefKARACHI: The Board ofBOC Pakistan Limited(BOCP), a member of TheLinde Group, todayannounced that YousufHusain Mirza has beenappointed Chief Executiveand Managing Director ofthe company effective 27October 2010, succeedingSyed Ayaz Bokhari whohas elected to resign to pur-sue other opportunities.
Yousuf Husain Mirza iscurrently the VicePresident, Gases, respon-sible for Operations,Distribution & CustomerEngineering Services,Safety, Health,Environment & Quality(SHEQ), Procurement,Marketing and TonnageSales. Mr. Mirza joinedBOC in Pakistan in 1992as an engineer, and hasheld a variety of seniorcountry and regional lead-ership roles in Linde'ssubsidiaries in Pakistan,Philippines andMalaysia.-PR
CCP issuesnotices toeighteen
poulterers ISLAMABAD: TheCompetition Commissionof Pakistan (CCP) hasissued show cause noticesto 18 poultry feed mills forprima facie engaging incartelisation and collusiveprice fixing practices pro-hibited under Section 4 ofthe Competition Act 2010.
The poultry feed millshave been asked to submittheir written argumentswithin fifteen days, and toappear before theCommission on 23 and 24November 2010. All thesemills are members ofPakistan PoultryAssociation (PPA).
These Show CauseNotices come in the after-math of the recent PKR 50million fine imposed byCCP on the PPA forcartelising the poultryindustry. Earlier the CCPundertook investigation ofthe Pakistan's poultryindustry based on newsreports pertaining to highprices of day-old chicksand exorbitant increase inthe prices of poultry feed.
Upon preliminary inves-tigation, the CCP observedthat Pakistan PoultryAssociation served as thenerve-center that connect-ed the different sectors ofthe poultry industry.-NNI
Book onprivatisation
launchedISLAMABAD: A bookdiscussing the privatisationculture titled "ExaminingPrivatisation in Pakistan:2006-2010" was launchedhere today byIndividualland, a privateresearch organisation, ithas been learnt.
Speaking on the occasion,Gulmina Bilal Ahmed,author of the book, said thatPakistan confronted multi-ple challenges at present."Terrorism, rehabilitationof flood affected peopleand a weakening economy,all point towards an admin-istration crisis that the gov-ernment has been facing forthe last few years".PAPP
KARACHI: The Joint Committee of the ICAP and the ICMAP has conferred"Best Corporate Report Award" to First Habib Modaraba (FHM) in the category
of Non Banking Financial Institutions (NBFI). The NBFI is one of the largestsectors comprising of insurance, leasing, investment banks, mutual funds and
modarabas having more than 100 listed entities.-Staff Photo
MoU signed between PBIT and CWPF
Plan approved in Pak-US dialogue
KARACHI: Sindh Governor Dr. Ishratul Ebad Khan talking to representatives of Shershah Market duringa meeting at Governor House.-APP
KARACHI: Amjad Parvez Janjua MD & CEO AsiaPetroleum Ltd. receiving 1st Global CEO Excellence
Award from Federal Minister for Petroleum &Natural Resources Naveed Qamar.-Staff Photo.
MUMBAI: The Indian rupeeweakened on Tuesday trackinglower domestic shares, withimporter dollar demand andsteady dollar overseas alsodampening sentiment.
Dealers expect the Indianunit to remain ranged thisweek and the next as dollaroutflows towards refund ofexcess subscription receivedfor the $3.5 billion Coal IndiaIPO may be offset by anexpected overall dollar weak-ness globally.
"There was quite a bit ofimporter dollar demand today.The rupee should move in arange of 44.40 to 44.60 (perdollar) tomorrow(Wednesday)," said AshtoshRaina, head of foreignexchange trade at HDFCBank.
"The 44.70 is a crucial resist-ance level for the rupee on thedownside."
The partially convertiblerupee ended at 44.4350/4450per dollar weaker fromMonday's closing of 44.35/36,and moved in a tight range of44.4025-44.5100.
Since September, the rupee
has risen 5.9 per cent on theback of $11.7 billion inflows.So far this year, foreign fundshave pumped in a record $24.7billion into Indian equities,pushing the Indian unit up by4.8 per cent. The inflows were$17.5 billion in 2009.
One-month offshore non-deliverable forward contractswere quoted at 44.74, weakerthan the onshore spot rate.
In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange and MCX-SX andthe United Stock Exchangeclosed at 44.4625, 44.4600,and 44.4625 respectively, withthe total traded volume on thethree exchanges at a moderate$5.5 billion. -Reuters
Indian rupee weakenson importer $ demand
3Wednesday, October 27, 2010
Currency Rates
Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).
British Members Association Interest Settlement Rates.
AT 11:00 LONDON TIME 26/10/2010
A USD GBP CAD EUR JPY
O/N 0.22563 0.55250 1.02667 0.75875 SN 0.09438
1WK 0.24981 0.55500 1.05250 0.75688 0.10688
2WK 0.25125 0.56125 1.07000 0.76500 0.11438
1MO 0.25531 0.56875 1.10833 0.79313 0.12625
2MO 0.27109 0.62563 1.15333 0.84938 0.15375
3MO 0.28844 0.73725 1.21500 0.97500 0.19625
4MO 0.33969 0.82288 1.27333 1.03750 0.28125
5MO 0.40156 0.92563 1.33083 1.12125 0.33938
6MO 0.45125 1.02750 1.40167 1.21375 0.39875
7MO 0.50094 1.10250 1.46167 1.26125 0.45875
8MO 0.54900 1.18475 1.54667 1.30625 0.50500
9MO 0.60063 1.26563 1.61333 1.36125 0.55500
10MO 0.65375 1.34000 1.68167 1.40563 0.58250
11MO 0.70688 1.40875 1.75833 1.44875 0.61188
12MO 0.76525 1.47538 1.82833 1.49594 0.63938
Countries Selling Buying BuyingTT & OD TT Clean OD/T.CHQ
U.S.A. 86.10 85.90 85.71U.K. 135.44 135.13 134.82EURO 120.18 119.90 119.62CANADA 84.42 84.22 84.00SWITZERLAND 88.59 88.38 88.15AUSTRALIA 85.29 85.09 84.86SWEDEN 13.09 13.06 13.02JAPAN 1.07 1.06 1.06NORWAY 14.86 14.83 14.79SINGAPORE 66.55 66.39 66.22DENMARK 16.11 16.08 16.03SAUDI ARABIA 22.96 22.91 22.85HONG KONG 11.10 11.07 11.04CHINA 12.93 12.90 12.86KUWAIT 305.48 305.13 304.33MALAYSIA 27.80 27.73 27.66NEW ZEALAND 64.80 64.65 64.48QATAR 23.65 23.60 23.53U.A.E. 23.45 23.39 23.33KR WON 0.08 0.08 0.08THAILAND 2.88 2.87 2.87
London Inter Bank Offered Rates (LIBOR)
Name Bid Ask High Low
EUR-USD 1.3855 1.3856 1.3983 1.3838
EUR-GBP 0.8745 0.8749 0.8882 0.8731
EUR-CHF 1.3681 1.3685 1.3686 1.3548
EUR-JPY 112.76 112.76 113.26 112.44
USD-CHF 0.9866 0.9871 0.9879 0.9703
USD-CAD 1.0237 1.024 1.0264 1.0183
GBP-USD 1.5835 1.5841 1.5892 1.5692
GBP-JPY 128.91 128.96 129.1 126.85
AUD-USD 0.9845 0.9849 0.9926 0.9833
EUR-CAD 1.4180 1.4187 1.4259 1.4155
CHF-JPY 82.36 82.42 83.49 82.40
Gold 1338.54 1339.29 1342.94 1328.18
Silver 23.84 23.87 23.93 83.18
As per 22.00 PST
Time Source Events Forecast Previous
5:30 AUD CPI q/q 0.8% 0.6%
5:30 AUD Trimmed Mean CPI q/q 0.7% 0.5%
All Day EUR German Prelim CPI m/m 0.1% -0.1%
11:45 EUR French Consumer Spending m/m 0.5% -1.6%
13:00 EUR M3 Money Supply y/y 1.4% 1.1%
17:30 USD Core Durable Goods Orders m/m 0.4% 1.7%
17:30 USD Durable Goods Orders m/m 1.7% -1.5%
19:00 USD New Home Sales 301K 288K
19:30 USD Crude Oil Inventories 1.1M 0.7M
Source Events Actual Forecast Previous
AUD NAB Quarterly Business Confidence 9 3
CHF UBS Consumption Indicator 1.70 1.95
EUR GfK German Consumer Climate 4.9 5.2 4.9
GBP Prelim GDP q/q 0.8% 0.4% 1.2%
USD S&P/CS Composite-20 HPI y/y 1.7% 2.4% 3.2%
USD Richmond Manufacturing Index 5 -1 -2
USD CB Consumer Confidence 50.2 49.3 48.6
Previous Day
Top Economic Events
Central Bank Next Meeting Last Change Current
Interest Rate
Bank of Canada Dec 07 2010 Sep 08 2010 1%
Bank of England Nov 04 2010 Mar 05 2009 0.50%
Bank of Japan Oct 28 2010 Oct 05 2010 0%
European Central Bank Nov 04 2010 May 07 2009 1%
Federal Reserve Nov 03 2010 Dec 16 2008 0.25%
Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%
The Reserve Bank of Australia Nov 02 2010 May 04 2010 4.50%
Major Central Banks Overview
Division of National Bank of Pakistan (NBP)KARACHI, October 26,2010 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:
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
ABPL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ABLN 11.90 12.40 12.00 12.50 12.20 12.70 12.75 13.00 12.90 13.15 13.10 13.60 13.25 13.75 13.35 13.85
JSBL 12.20 12.70 12.10 12.60 12.30 12.80 12.75 13.00 13.05 13.30 13.20 13.70 13.30 13.80 13.50 14.00
ASPK 12.10 12.60 12.15 12.65 12.25 12.75 12.65 12.90 12.90 13.15 13.10 13.60 13.15 13.65 13.30 13.80
CIPK 12.20 12.70 12.25 12.75 12.40 12.90 12.70 12.95 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80
DBPK 11.90 12.40 11.90 12.40 12.10 12.60 12.70 12.95 12.90 13.15 13.15 13.65 13.25 13.75 13.35 13.85
FBPK 12.05 12.55 12.10 12.60 12.10 12.60 12.65 12.90 13.00 13.25 13.10 13.60 13.15 13.65 13.40 13.90
FLAH 12.10 12.60 12.10 12.60 12.20 12.70 12.75 13.00 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80
HBPK 12.00 12.50 12.15 12.65 12.30 12.80 12.75 13.00 13.00 13.25 13.10 13.60 13.20 13.70 13.35 13.85
HKBP 12.10 12.60 12.15 12.65 12.25 12.75 12.70 12.95 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80
NIPK 12.00 12.50 12.30 12.80 12.60 13.10 12.85 13.10 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80
HMBP 12.10 12.60 12.10 12.60 12.40 12.90 12.80 13.05 13.00 13.25 13.15 13.65 13.20 13.70 13.30 13.80
SAMB 12.15 12.65 12.15 12.65 12.40 12.90 12.90 13.15 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85
MCBK 12.00 12.50 12.10 12.60 12.30 12.80 12.80 13.05 12.95 13.20 13.10 13.60 13.20 13.70 13.40 13.90
NBPK 12.20 12.70 12.20 12.70 12.20 12.70 12.75 13.00 12.80 13.05 13.10 13.60 13.20 13.70 13.30 13.80
SCPK 12.10 12.60 12.00 12.50 12.20 12.70 12.70 12.95 12.95 13.20 13.10 13.60 13.15 13.65 13.35 13.85
UBPL 12.00 12.50 11.90 12.40 12.25 12.75 12.70 12.95 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85
AVE 12.07 12.57 12.11 12.61 12.27 12.77 12.74 12.99 12.97 13.22 13.11 13.61 13.21 13.71 13.33 13.83
Karachi Inter Bank Offered Rates (KIBOR)
Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)26/10/2010
Period AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD USD/CAD USD/CHF
1 week 0.36 0.84 0.81 0.88 -0.53 -0.54 -0.11 0.661 month 0.02 0.03 -0.05 0.16 0.44 0.18 -0.50 -0.203 months 0.67 0.71 0.72 0.83 0.88 0.76 -0.81 -0.486 months 0.28 0.63 0.65 0.37 0.02 0.31 -0.57 0.071 year 0.22 0.92 0.86 0.87 0.64 0.23 0.18 -0.212 years -0.08 0.82 0.48 0.76 0.52 -0.06 0.15 -0.08
Currencies CorrelationEUR/JPY
CMKA BMA INVSR GSL ICSL JSCM AvgRate
0-7days 12.25 12.25 12.25 12.15 12.20 12.20 12.22
8-15dys 12.35 12.20 12.30 12.20 12.15 12.25 12.24
16-30dys 12.40 12.40 12.40 12.30 12.30 12.30 12.35
31-60dys 12.45 12.35 12.55 12.35 12.40 12.40 12.42
61-90dys 12.65 12.65 12.66 12.67 12.65 12.67 12.66
91-120dys 12.75 12.75 12.70 12.80 12.80 12.75 12.76
121-180dys 12.95 12.95 12.95 12.99 12.98 13.00 12.97
181-270dys 13.05 13.00 13.02 13.10 13.10 13.08 13.06
271-365dys 13.20 13.15 13.05 13.22 13.20 13.20 13.17
2-- years 13.40 13.40 13.35 13.40 13.40 13.35 13.38
3-- years 13.65 13.60 13.65 13.65 13.60 13.68 13.64
4-- years 13.70 13.70 13.70 13.68 13.73 13.72 13.71
5-- years 13.75 13.75 13.73 13.74 13.75 13.74 13.74
6-- years 13.75 13.75 13.75 13.75 13.75 13.75 13.75
7-- years 13.75 13.75 13.75 13.76 13.75 13.75 13.75
8-- years 13.75 13.75 13.72 13.77 13.75 13.75 13.75
9-- years 13.70 13.75 13.73 13.65 13.75 13.73 13.72
10--years 13.80 13.80 13.80 13.85 13.90 13.80 13.83
15--years 14.25 14.25 14.25 14.20 14.20 14.25 14.23
20--years 14.35 14.50 14.30 14.35 14.30 14.35 14.36
Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for October 26, 2010
NEW YORK: The US dollarrose as the euro again failed tohold above the $1.4000 level inthe prior session leavinginvestors wary of bettingagainst the greenback onTuesday.
The Swedish crown and ster-ling were also actively tradedafter the Swedish central bank,which raised interest rates asexpected, said future rateincreases would be more grad-ual than expected, while theBritish economy grew morethan expected.
Overall however, uncertaintyover the extent of quantitativeeasing measures the FederalReserve may take next weekkept foreign exchange tradingin predictable ranges.
Euro/dollar "has struggled tobreak sustainably above$1.40," said Camilla Sutton,chief currency strategist at
Scotia Capital in Toronto."We still expect this will be
the next move, however if it isunable to do so soon, we mightsee some temporary weaknessbefore markets have enough
conviction to push it above thislevel," she said.
Midway through the NewYork session, the euro fell 0.7per cent to $1.3860 after fail-ing to close above $1.4000 onMonday. The euro has supportat 1.3860, its low on Friday,and its 21-day simple movingaverage at $1.3866.
The euro fell to a session low
after a report showed US con-sumer confidence rose slightly inOctober but then recoveredthough it was still down on theday. The move back below$1.4000 was viewed as signifi-
cant given the euro had failedseveral times in recent days tobreak through and hold that level.
The dollar rose against theyen, edging away from 15-yearlows after Japan's finance min-ister Yoshihiko Noda warnedthe government would "actdecisively" in currency mar-kets if needed.
The dollar was up 0.6 per
cent at 81.24 yen. It hit a 15-year trough at 80.41 yen onMonday on electronic tradingplatform EBS, taking it near itsrecord low of 79.75 yen, struckin April 1995.
Against a basket of curren-cies the dollar was up 0.6 percent at 77.552. It has supportaround 76.00-10, just below itsOctober 15 low of 76.144while resistance is at 78.40.
Sterling was a clear outper-former, rising to a one-weekhigh at $1.5897 after figuresshowed the UK economy grew0.8 per cent in the third quarter,twice as much as economistshad forecast. Sterling extendedgains after S&P rating agencyraised its outlook on the UK tostable from negative.
The Swedish crown fellbroadly with the euro risingmore than 1 per cent to a peakof 9.3414 crowns. -Reuters
US dollar rallies as euroagain fails to break $1.4000
SHANGHAI: Spot yuanclosed down against the dollaron Tuesday after the People'sBank of China set a slightlyweaker mid-point, continuing apause in the yuan's apprecia-tion since a surprise interestrate rise a week ago.
The yuan has generally fallensince the rate increase wasannounced last Tuesday,pulling back from a 2-plus percent rise from early Septemberto mid-October, its quickestpace of appreciation since itslandmark revaluation in July2005.
The PBOC engineered thepullback by setting a slew ofweak mid-points to prevent therise in interest rates fromattracting more inflows ofspeculative capital. But thathas failed to rein in strong mar-ket expectations that the yuanwill stage another round ofappreciation in November.
China typically gives good-will gestures ahead of politicalevents that will boost pressurefor yuan appreciation.
In November there will be a
slew of such events, includingthe US congressional mid-termelections and the summit ofG20 leaders of major devel-oped and emerging economies.
Many dealers expect thePBOC to let the yuan resumeappreciation later this week,allowing it to appreciate toaround 6.60 against the dollarby late November.
The yuan closed at 6.6627against the dollar on Tuesday,down from Monday's close of6.6581 but much stronger thanTuesday's PBOC mid-point of6.6762, which was slightlyweaker than Monday's refer-ence rate of 6.6729.
The yuan has appreciated2.45 per cent since the PBOCannounced its depegging to thedollar on June 19.
Benchmark one-year dol-lar/yuan non-deliverable for-wards (NDFs) rose to 6.4725in late trade from Monday'sclose of 6.4450, with theirimplied yuan appreciation ina year's time falling to 3.15per cent from 3.54 per cent. -Reuters
Yuan ends lower
Swiss francnear flat
ZURICH: The Swiss franc wastreading water below the previ-ous session's near 11-weektrough against the euro onTuesday, with market participantssaying technicals were expectedto be the key driver of the pair.
"It's technicals," a trader inZurich said. "Support foreuro/Swiss at 1.3530, resist-ance at 1.3620."
The franc was flat against theeuro compared to the New Yorkclose, trading at 1.3564 pereuro at 0634 GMT. The francwas also flat against the green-back at 0.9704 per dollar.
The franc has gained morethan 10 per cent against theeuro this year, as investorswary of sovereign debts in theeuro-zone sought the safety ofthe Swiss unit. However, thefranc has eased from its peak of1.2763 per euro hit in Septemberafter the Swiss National Bankindicated it would hold interestrates steady for quite some time.Analysts at bank Sarasin see theSwiss franc rising again to 1.28per euro by the end of the year,given a cooling of the globaleconomy. -Reuters
LONDON: Sterling ralliedbroadly on Tuesday, boostedby much better-than-expectedUK economic growth data anda vote of confidence in the gov-ernment's management of theeconomy from ratings agencyStandard and Poor's.
The pound was poised for itsbest daily gain versus the eurosince June after July-September GDP rose 0.8 per
cent, twice as fast as forecasts.That dampened speculation onmore imminent policy easingby the Bank of England.
Second-quarter GDP growthslowed from a 1.2 per centexpansion in April-June butstill showed economic recov-ery is on track as the govern-ment prepares to implementwide-ranging austerity meas-ures announced last week.
Analysts said the better-than-expected reading cooledexpectations the UK centralbank may buy more UK assets
from the market in an attemptto flood the system with cashto stimulate the economy, amove that is seen as being neg-ative for the pound.
The BoE's Monetary PolicyCommittee (MPC) holds itsnext regular policy meetingnext week.
The pound was further sup-ported by S&P saying the UKwas no longer in danger of los-
ing its triple-A credit rating.By 1440 GMT, sterling had
climbed roughly 1 per cent onthe day to a session high of$1.5897, pulling back from aslide to $1.5657 on Monday.
The euro fell roughly 1.5 percent to the day's low of 87.46pence, retreating from 89.41pence hit on Monday, itsstrongest since late March.
Sterling rose the sameamount against the yen to128.90 yen, pulling away froma 20-month low hit on Monday.-Reuters
Sterling rallies afterstrong UK GDP
BANGKOK: The Philippinepeso rose over a third of a percent on Tuesday despite centralbank intervention, while theSouth Korean won retreatedafter a government warningabout measures to stop inflowsof foreign speculative money.
Investors are selling the dol-lar on expectations of furtherasset-buying by the Fed to tryto revive the US recovery,which could further weakenthe currency and spur moreinflows into higher-yieldingemerging market assets.
The Philippine peso rose0.35 per cent to a high of 43.16against the dollar, promptingcentral bank intervention in the
morning. Dollar/peso NDFswere bid down across the curvewith the most liquid one-month dollar/peso NDFsfalling to 43.19, some 15points higher than the spot andimplying a 0.05 per cent one-month fall from the spot.
"The peso and Asian curren-cy rally has been spurred bythe G20 meeting agreements.The Phillipine August tradesurplus has also helped thepeso a little," a Manila-baseddealer said.
The South Korean wonrebounded from morning weak-ness when it was hit by a warn-ing of the Finance minister of apossible move to curb inflows
into Asia's fourth-largest econo-my. Finance Minister YoonJeung-hyun said on Monday thegovernment was preparing vari-ous measures to smooth volatili-ty in cross-border capital flowsand would decide whether toadopt steps after the nextmonth's G20 summit.
The won was quoted at1,115.9 per dollar at 0536GMT against a 1,116.3 closeon Monday.
The Thai baht rose one fifthof a per cent to around 29.87per dollar after a long holidayweekend in Thailand, andahead of comments from FedChairman Ben Bernanke duelater on Tuesday. -Reuters
Asian currencies
Mostly strengthens,peso outperforms
SYDNEY/WELLINGTON: The Australian dol-lar held firm against a broadly steadier greenbackon Tuesday as the market waited for inflationdata to gauge the probability of another interestrate hike by the Reserve Bank of Australia.
Due on Wednesday at 0030 GMT, underlyingmeasures of inflation watched by the centralbank are expected to show a rise of 0.7 per centon the quarter, taking the annual figure to 2.6 percent, near the top-end of the RBA's target 2-3per cent.
So far, markets are pretty much priced for a50/50 chance of a quarter-percentage-point hiketo the 4.5 per cent cash rate at the Nov. 2 meeting.
A much stronger inflation reading will boostthe rate hike risk and also fire up the Aussie.
The Aussie was last at $0.9922, comparedwith $0.9904 late in New York, but still off theovernight high of $0.9975. The currency hasbeen repeatedly capped at the $0.9950 and$1.0000 range with traders saying there is sig-
nificant selling interest above parity.Traders also said the Aussie's upside was lim-
ited by a steadier greenback. Immediate resistance for the Aussie is pegged
at $0.9930-40, with strong support seen at the$0.9840-60, a break of which could lead to a testof Friday's lows of around $0.9745-55.
On Monday, the Australian dollar jumped overa cent, helped by strong producer prices and amulti-billion dollar takeover deal.
The New Zealand dollar was stuck in a tightrange in the run-up to the central bank's ratereview this week.
The kiwi consolidated around $0.7525/35after a run, which saw it reach a five-day high of$0.7561 offshore. It was seen supported aroundthe Oct. 20 low about $0.7426, with resistance at$0.7570.
The Aussie/kiwi was also steady aroundNZ$1.3160, after touching a six-month high ofNZ$1.3219 on Monday. -Reuters
Australian, NZ dollars offhighs but well supported
Taiwan dollar
eases on
cbank moveTAIPEI: The Taiwan dollaredged lower on Tuesday from amore than two-year high onapparent central bank interven-tion, but monetary easing in theUnited States is expected topush the unit back up.
The Taiwan currency endedat T$30.76 per US dollar, com-pared with its Monday close ofT$30.73.
Tuesday's final price followedwhat dealers described as cus-tomary late-session interventionby Taiwan's central bank to reinin sharp gains in the currencysince late September.
Prospects of US monetaryeasing helped push the Taiwandollar on Monday to itsstrongest final price since Aug.5, 2008. The central bankbought $4.98 billion worth ofUS dollars over the monthended Oct. 25, according to asurvey of traders compiled byIFR Markets.
Taiwan's currency receivedsome support on Tuesday fromforeign fund flows into Taiwanstocks. But US dollar stabilityin global trade cramped localcurrency gains. A lack of strongforex action by G20 leadersover the weekend had sent theUS unit lower on Monday. -Reuters
Yen up; Japan finmin says to take steps on FX if needed
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 inher-
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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.
Politicalharmony,
need of day The effort to create better understanding
between PPP and PML-Q is being witnessedwith some suspicion. Some of the quarters termit as an attempt to marginalise PML-N and alsoMQM. Incidentally, PPP and PLM-N had signedChartered of Democracy even before the electionbut breach of distrust has widened with the pas-sage of time. It is anticipated that PML-N, whichhas gone from friendly opposition to stern criticmay move non-confidence move against theprime minister or demand impeachment of pres-ident. However, many experts term this wishfulthinking because they strongly believe thatPML-N can't muster up the required support.
Some of the experts term PPP-PML-Q loveaffair as an attempt to destabilise PML-N gov-ernment in Punjab, the largest province ofPakistan. PML-Q having failed miserably inwining significant number of seats in the gen-eral elections seems to be keen in joining handswith PPP only to jointly pose a serious threatfor PML-N. If PPP-PML-N alliance wastermed unnatural, PPP-PML-Q could onlyprove disastrous for the continuity of democra-cy in the country.
Many experts have been saying that completionof the term by the present government is a mustfor strengthening democracy in Pakistan.However, others are adamant at saying that shamdemocracy is proving too bad for the country.The present regime has failed in addressing eco-nomic woes and seems they are on a honey-moon. The criticism of the opponents has turnedbitter because the present regime seems less con-cerned about problems faced by the masses andopponents are exploiting the situation.
However, overall role of the political parties isattracting criticism. Some leaders are trying tosail in two boats, opposing some religious partiesin one province but fully supporting even thebanned religious outfits in another. Ironically,religious parties often say that people should beready to face suicide attacks if drone attacks arenot stopped. Similarly, some of the ministersbelonging to PML-N have been alleged for hav-ing strong cordial relationship with members ofbanned outfits.
While it becomes the collective responsibilityof all the political parties to denounce any andevery act aimed at destabilising the country, theruling coalition has the biggest responsibility toavoid confrontation. The signs of maturityshould also be exhibited by all the political par-ties. Any attempt to create chaos, derail processof democracy, weaken the institutions couldprove fatal for the country.
Pakistan faces external as well as internalthreats. All the enemies want to destabilise thecountry and plunge it deeper into anarchy. Thegrowing presence of India in Afghanistan is aserious threat for Pakistan, but the real threat iscountry's feeble economy. Political parties mustkeep an eye on each other's conduct but no moveshould be made to destabilise Pakistan. The col-lective wellbeing is in a politically stable andeconomically vibrant country.
4Wednesday, October 27, 2010
Publisher & Editor-in-Chief: Amir A. Ashary
Editor: Shakil H. Jafri
Executive Editor: Manzar Naqvi
Honorary Advisory Board
Haseeb Khan, FCA
Asim Abbas Ashary, CPA
Akhtar M. Zaidi, FCA
Dr. A. Hadi Shahid, FCA
Muhammad Arif
S. Muneer Hussain Rizvi
Khurram Shehzad, CFA
Prof. Zakaria Sajid (KU)
Zahid Bukhari SVP HBL (retd)
Ismat Sabir
Head office
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The Financial Daily InternationalVol 4, Issue 81
When US PresidentBarack Obamaarrives in India next
month, he will face a keychallenge of boosting defenceties that are on the upswingbut mired by political suspi-cion over pandering toWashington's interests.
Underlying the visit will belobbying for billions of dol-lars in contracts to overhaulIndia's mostly Russian-sup-plied military, a relic of theirCold War era partnership.
Those orders include US$11billion deal for 126 fighterjets that could benefit US'Boeing and Lockheed MartinCorporation. France'sDassault, Russia's MiG-35,Sweden's Saab and theEurofighter Typhoon are alsocompeting.
But Washington faces a hostof hurdles, including Indianworries that signing defencepacts which are necessary forthe US arms sales to gothrough may land New Delhiinto a wider entanglementwith the US military.
While Prime MinisterManmohan Singh has reachedout to Washington over his
last six years in powers, manywithin his own Congressparty as well as his parlia-mentary allies are reluctant toembrace these pacts, pendingover three years.
"India is weighing to see ifall these agreements are togive a wider room to maneu-ver for US forces in theregion," said SiddharthVaradarajan, strategic affairseditor at Hindu Newspaper inDelhi. "There is a mismatchin expectations from the rela-tionship. India wants weaponssales as a transactional rela-tionship, the US is seekingexclusivity in partnership," hesaid, referring to any USdesire to make the Indian mil-itary an active element in itsstrategic expansion in theregion.
A KPMG report this monthsaid the misgivings over thepacts were "roadblocks" insustaining the momentum inthe relationship.
Obama's challenge is not asmuch in winning contracts asit is in lifting ties to a long-term military partnership in aregion where Washington isnow fighting a war and seek-
ing ways to contain China'srise. And the defence pactsWashington wants India tosign underscore some of thosechallenges.
One pact is the LogisticsSupport Agreement (LSA),which would allow Americanmilitary to use Indian facili-ties for operations like refuel-ing. Indians fear India couldbe used as a launching pad formilitary operations in theregion.
Two other pacts are requiredunder US domestic laws totransfer sensitive defencetechnology. India fears themilitary will have to sharecommunications secrets withthe US. "These agreementsneed wider consultation. Theyhave various implications,"an Indian defence ministryofficial told Reuters.
DEVELOPING TIESOnce on the opposite sides
of the Cold War, India and theUS began warming up to eachother about a decade back, theparadigm shift coming with a2008 civil nuclear deal thatthen President Bush pushed toend India's nuclear isolation.
And the growing conver-
gence in defence ties is mani-fest in India agreeing to buyUS military hardware worthsome $10 billion in govern-ment-to-government sales inthe past two years. The UShas held more military exer-cises with India than anyother country. Two-way tradehas risen to close to $50 bil-lion from just $5 billion in1990. Indian Prime MinisterManmohan Singh was alsothe first state guest of theObama administration lastyear.
But what India is lookingfor is reassurance thatWashington takes New Delhiseriously as a global partnerand will not sacrifice Indianinterests as it seeks to bolsterrival Pakistan to combatIslamist militants, and dealswith China. This may helpexplain India's reluctance togo into a bear hug with USmilitary at the risk of alienat-ing its time-tested ally Russia,and other European powerssuch as Britain and Francewhich are trying to boost ties,including military, with India.
"India and the US need towork out how the relationship
has shifted," said EvanFeigenbaum, a South Asiaexpert at Washington-basedthink tank Council on ForeignRelations. "Security is notjust about procurement andcontracts; it needs to reflectthe new nature of the relation-ship."
Indian confidence could beboosted if Obama declares hissupport for a permanent seatfor India on the UN SecurityCouncil and further eases USexport controls on dual-usetechnologies that have bothconventional and nuclear use.
"It's not an either or situa-tion. The maturation of US-India defence ties is steadyand is well rounded in mostrespects," said James Clad,former US deputy assistantsecretary of defence for Asiaand now with Pentagon'sNational Defence University.
There are other irritants inthe relationship, includingproblems over India's nuclearliability regime, a sector hold-ing big plumbs for US'Walmart, General Electricand Westinghouse Electric,subsidiary of ToshibaCorporation.-Reuters
Indo-Americadefence deals
Shabbir Kazmi
Acloser look at the list of compa-nies listed at Karachi StockExchange Pakistan's largest
bourse shows that out of the total list-ed companies nearly two-third are of noconsequence for the investors. Bulk ofthe daily trading volume pertains to 30companies and at times even bench-mark KSE-100 index does not look truereflector of investors' sentiments. Thenumber of companies placed ondefaulters' counter is very long. Thecompanies placed on this counter sufferfrom some common contentious issuesthat include no payment of dividend toshareholders, no compliance to the list-ing regulation and above all these areimproved version of proprietorship.Various options are available to weedout such irresponsible corporate entitiesbut hardly exercised either by the spon-sors or the shareholders.
Over the years some companies haveopted for buyback of shares and evenlesser number for voluntary liquidationand widening up of bankrupt companies.Karachi Stock Exchange often releasesthe names of companies in which tradingis suspended, but most of these entitieshad gone out of operations decades agoand assets of these companies embez-zled by the sponsors and/or staff of theentities, the most notorious beingNational Fibres, Islamic InvestmentBank and its subsidiary IslamicModaraba, Beema Insurance and the listcontinues. This situation has prevailedonly because of the absence of support-ing laws for takeover, acquisition andmerger. Stock exchanges and apex regu-
lator, Securities & ExchangeCommission of Pakistan could be heldresponsible for the prevailing dismalstate of affairs.
However, one sector emerges excep-tional that is commercial banks. Thecredit of saving banks from bankruptcygoes to State Bank of Pakistan. In thehistory of commercial banking inPakistan, spread over more than sixdecades it is difficult to find any com-mercial bank going delinquent. If andwhen any issue aroused the central bankwas prompt in bringing change of man-agement at the ailing entity. Even if needwas felt to inject additional liquiditycompliance was prompt. Some of theexamples include winding up of MehranBank, sale ofUnion Bankand a fewmergers andacquisitions.
State Bankissued nearly adozen permis-sions for set-ting up of com-mercial banksafter theannouncementof liberaliza-tion, deregula-tion and priva-tion strategy ofgovernment inearly nineties. Soon after three distinctgroups of banks emerged these were 'bigfive', small private banks and foreignbanks. To bridge the gap minimumrequirement of paid up capital for com-mercial banks was increased. Whilesome of the banks were successful inmobilizing additional capital others arestill struggling to meet therequirement.
In a bid to comply with this require-ment some foreign entities stepped in byinjecting additional capital and alsoattaining majority stake. One such exam-ple was Samba Group of Saudi Arabiainjecting funds in Crescent Bank, lead-ing to change of name. Another UAEbased entity Suroor Investment took
substantial stake in three of the smallerbanks namely Arif Habib Bank, Mybankand Atlas Bank. Name of Arif HabibBank has been changed to Summit Bankand it is yet to be seen whether the for-eign investor holding substantial stakewould merge all the three entities or pre-fer to maintain their individuality. Fromthe management point of view amalga-mation of three banks could bring syner-gy and also help in optimizing opera-tional cost.
Royal Bank of Scotland acquired ABNAmro Bank globally, which also broughtthe change in management and signagein Pakistan. However, it seems thatinability to bring a visible change in theprofitability, RBS chose to sell its stake
in the locally incorporated entity. Whilethere were few other contenders FaysalBank emerged successful. It is believedthat in an attempt to optimize operationalexpenses, RBS would be merged intoFaysal Bank.
Earlier foreign investors had acquiredstrategic shares of Habib Bank andUnited Bank by offering attractive bidsin privatization process. Stake was alsoacquired by Maybank of Malaysia inMCB Bank. The other listed banks withforeign equity stake are Bank Alfalah,NIB Bank and Faysal Bank.
Banking sector experts have contraryviews regarding foreigners acquiringcontrolling stake in local listed bank.While one group terms it a positive sign
other group calls it creation of many EastIndia Companies. They say the GoP soldits stake in the state owned banks to getdollars without realizing the fact thatreparation of dividend would add to for-eign exchange outflow every year. Theyalso say that the central bank has alsosuccumbed to the pressure of foreignequity holders by allowing them todetermine their own tariff of servicecharges. They also say that many banksinsist on maintaining minimum balancesand also penalize the accountholders ifstipulated balance is not maintained.
Some of the banking sector experts areof the opinion that the keen interest offoreign investors in acquiring stake incommercial banks is mainly driven bythe exceptionally high spread availablein Pakistan, almost double the rateearned in the developed markets.
The strength of Pakistani banks andthe regulatory framework is evidentfrom the fact that even during the reces-sion many of the players have managedto avoid posting losses. Some analystssay that the central bank of Pakistan is alittle orthodox, while others term thisprudent banking.
Some of the sector experts stronglybelieve that the Prudential Regulationsfavor the banks more and often endorsepolicies which are anti-accountholders.The central bank took a major step bymaking it mandatory for banks to payminimum 5% return on deposits, butoften banks are able to avoid this on oneor the other pretext.
There is one apprehension that oncePakistan's economy is back on track andthen enters into growth phase, bankswould start posting profit and remittanceof dividend that will start eroding coun-try's foreign exchange reserves.
While many of the accountholdersare full of complaints about high serv-ice charges, they are also cognizant ofthe high quality of service offered thatinclude ATMs, debt/credit cards, onlinebanking, internet banking and mobilebanking helping the accountholders toavoid visit to branches, conveniencefor accountholders and less traffic atbranches.
M&As yet topick up in Pakistan
Karachi Stock Exchangeoften releases the names
of companies in which tradingis suspended, but most of
these entities had gone out ofoperations decades ago andassets of these companies
embezzled by the sponsorsand/or staff of the entities,
“
Funds fordengue patients?
According to a news item published in The Financial Daily dengue relief fund worthRs20 million is not being released by Sindh Govt, despite nearly 3,000 dengue patients bat-tling for their survivals in many hospitals all over Sindh.
Every day dozens of people are loosing their lives due to this deadly fever and even insuch condition the funds for these victims is not released, the re cent statements by theSindh Health minister Dr Sagheer Ahmed reveled that the authorities are not taking up thematter seriously. In this situation where already so many problems are teasing the poor peo-ple of Pakistan, they have to face the negligence of the government in this regard thus pos-ing a direct threat to their survival. I appeal the authorities to take concrete steps by not onlyreleasing the funds immediately but also doing more to stop the spread of dengue fever.
Rameez Ahmed,University of Karachi.
Short termmemory loss
Short term memory loss is the right term for our public. We seem tohave no opinion of our own. As soon as the news fades away from themedia so does from our minds. Every dialogue, every discussion startsin people's living room and ends up right there, even if some of ourown want to do something; they are discouraged to the extent of beingdeclared outcast. We call ourselves modern, Islamic or whatsoeverBUT the reality remains we don't do anything unless it comes to ourhome or ourselves, and we definitely don't consider Pakistan our home,because if at any point of time we do; we would've never labeled edu-cation with statuses.
Saman Maudood,Karachi.
Almost two third of the listed companies are of no consequence for shareholders
FERTILISER000 tonnesUrea Offtake (Jan to July 10) 3,565Urea Offtake (July 10) 580Urea Price (Rs/50 kg) 879DAP Offtake (Jan to July 09) 374DAP Offtake (July 10) 49DAP Price (Rs/50 kg) 2,626
AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 09 to June 10) 71,998
Sales (July 09 to June 10) 73,993
Production (July 10) 7,509
Sales (July 10) 4,503
INDUS MOTOR COProduction (July 09 to June 10) 50,557
Sales (July 09 to June 10) 50,823
Production (July 10) 5,162
Sales (July 10) 4,999
HONDA ATLAS CARProduction (July 09 to June 10) 13,500
Sales (July 09 to June 10) 14,120
Production (July 10) 1,560
Sales (July 10) 1,272
DEWAN FAROOQ MOTORSProduction (July 09 to June 10)1,218
Sales (July 09 to June 10) 1,371
Production (July 10) 41
Sales (July 10) 40
BANKING SECTORScheduled bank (Rs in mn)Deposit (August 20,10) 4,595,176
Advances (August 20,10) 3,304,533
Investments (August 20,10) 1,788,671
Spread (July 2010) 7.51%
OIL MARKETING CO(000 tons)MS (Jul 09 to June 10) 1,933
MS (July 10) 188
Kerosene (Jul 09 to June 10) 164
Kerosene (July 10) 15
JP (Jul 09 to June 10) 1,377
JP (July 10) 129
HSD (Jul 09 to June 10) 7,435
HSD (July 10) 664
LDO (Jul 09 to June 10) 75
LDO (July 10) 7
Fuel Oil (Jul 09 to June 10) 9,259
Fuel Oil (July 10) 869
Others (Jul 09 to June 10) 13
Others (July 10) 1
PRICES (Ex-Refinery) RsMS (1 Sep 10) 40.85
MS (1 Aug 10) 41.22
MS % Chg -0.90%
Kerosene (1 Sep 10) 47.14
Kerosene (1 Aug 10) 46.55
Kerosene % Chg 1.27%
JP-1 (1 Sep 10) 47.37
JP-1 (1 Aug 10) 46.78
JP-1 % Chg 1.26%
HSD (1 Sep 10) 50.61
HSD (1 Aug 10) 49.63
HSD % Chg 1.97%
LDO (1 Sep 10) 46.37
LDO (1 Aug 10) 45.29
LDO % Chg 2.38%
Fuel Oil (1 Sep 10) 39,932
Fuel Oil (1 Aug 10) 39,723
Sector Updates
Symbol Close Vol (mn)LOTPTA 10.16 20.92 ANL 11.61 15.88 LPCL 2.92 9.17 NML 52.90 8.23 UBL 57.47 6.69
Symbol Close ChangeRMPL 1,625.00 75.50 ULEVER 4,050.18 30.18 BATA 567.68 26.99 IDYM 243.31 11.10 WYETH 810.00 9.00
Symbol Close ChangeMTL 480.87 -12.63SRVI 231.73 -11.41PSEL 142.63 -7.37ATLH 109.20 -5.74AGTL 201.98 -5.46
Plus 148Minus 242Unchanged 13
Top 5 Volume Leaders
Major Losers
Major Gainers
KSE-100 Index
LSE-25 Index
ISE-10 Index
Active Issues
Wednesday, October 27, 2010 5
Dhiyan
The correction is expected to continue over the next 1-2sessions. Thereafter, if market manages to consolidate orsome good news arrives from the political or economicfront we can see the bullish trend reviving. Investors areadvised to invest --after proper analysis- in those stockswhich offer dividend yields of more than 8 per cent.Traders should adopt a 'sell on strength' strategy today.
Khalid Waheed, CEO Hum Securities
Faran Rizvi, Technical Analyst Invisor Securities
Increasing participation along with limited price action movement meansthe market is an overbought state, a hint that bulls are tired. Today mar-ket tested its major resistance level of 10,747 points twice, but we stillrecommend traders to maintain a selling stance as we are seeing the mar-ket coming around to 10,550 points. Intraday support will be at 10,605points. Market will have a major support at 10,450 points, therefore werecommend traders to buy at this level. Market may remain negativetoday. We deem correction would be healthy for it.
SELL ON STRENGTH
Opening 10,703.71
Closing 10,658.15
Change 45.56
% Change 0.43
Turnover (mn) 150.70
Opening 3,331.22
Closing 3,316.09
Change 15.13
% Change 0.45
Turnover (mn) 8.11
Opening 2,706.00
Closing 2,698.57
Change 7.43
% Change 0.27
Turnover (mn) 0.36
ANNOUNCEMENTS
Company Period Div/Bon/Right PAT (Rs in mn) EPS(Rs)
PICIC Energy Fund Yearly 5%(D) - -
AKD Capital Yearly 10%(D) 1.029 0.41
Allied Rental XD 1st Qtr - 70.567 1.18
Arif Habib Ltd.XB 1st Qtr - 22.140 0.49
Arif Habib Sec.SD 1st Qtr - 509.308 1.36
B.P.Board 1st Qtr - 0.301 0.05
Berger Paints 1st Qtr - -21.718 -1.19
Cherat Paper XDXB 1st Qtr - 64.467 7.02
Cherat Paper XDXB 1st Qtr - 64.467 7.02
Ellcot Sp.XD 1st Qtr - 90.389 8.25
Ideal EnergyXD 1st Qtr - -2.302 -0.29
Ideal Spinning 1st Qtr - 29.202 2.94
Kohat Cement 1st Qtr - -82.948 -0.64
Kot Addu Power XD 1st Qtr - 2,037.392 2.31
Maple Leaf Cement 1st Qtr - -618.798 -1.49
Mari Gas 1st Qtr - 371.752 1.29
Merit Pack 1st Qtr - 0.417 0.10
Nagina CottonSD 1st Qtr - 91.331 4.88
Nakshbandi XD 1st Qtr - 23.412 0.20
National Foods XD 1st Qtr - 27.848 0.67
Nimir Ind.Chemical 1st Qtr - -2.377 -0.01
Nishat Mills Ltd Xd(Consolidated) 1st Qtr - 1,663.020 4.73
Nishat Mills Ltd Xd(Unconsolidated) 1st Qtr - 1,350.109 3.84
Pak.Int.Con. Xd(Consolidated) 1st Qtr - 277.238 2.50
Pak.Int.Con. Xd(Unconsolidated) 1st Qtr - 277.238 2.50
Pak.P.V.C. 1st Qtr - -5.145 -0.34
Prosperity Weav XD 1st Qtr - 60.395 3.27
Security Paper Ltd. 1st Qtr - 66.736 1.62
BOC (Pak) Ltd. 3rd Qtr - 136.634 5.46
Century Insurance 3rd Qtr - 54.776 1.20
GlaxoSmithKline Pak. 3rd Qtr - 819.743 4.17
ICI Pakistan 3rd Qtr - 1,847.772 13.31
ICI Pakistan 3rd Qtr - 1,847.772 13.31
Lafarge Pakistan 3rd Qtr - -1,045.033 -0.80
Lotte Pakistan PTA 3rd Qtr - 3,186.514 2.10
PICIC Ins.Ltd. 3rd Qtr - -20.244 -0.58
Universal Insurance 3rd Qtr - -54.988 -2.62
Nawaz Ali
KARACHI: After some con-tinuous bullish activities overthe past few sessions, investorspreferred to book profits at thelocal bourse which, onTuesday, ended below 10,700points (26-month high) despitesome good corporate resultsand healthy volumes.
The benchmark 100-Index ofKarachi Stock Exchange closed45 points down at 10,658 pointswhile KSE 30-Index fell by 58points closing at 10,239 pointsand KSE All Share Index lost30 points to end at 7,422 points.
"Investors preferred to book
profits as market has gained 2.3per cent in the last 4 tradingsessions", said Samar Iqbal,equity dealer at ToplineSecurities. He added that manyleading companies announcedtheir results but investors pre-ferred to trim their positionafter the result announcements.
Investor participationremained impressive through-out the day as 150.6 millionshares traded in the overallmarket which was just 7.4 mil-lion shares less as compared toa turnover of 158 million sharesa day earlier.
Market started the day with aminor loss of 2 points.
Thereafter it showed somevolatile activities throughoutthe day moving on both sides ofthe index between 10,746points (+ive 43 points) and10,639 points (-ive 64 points)as investors preferred to bookprofits after the resultannouncement of some majorcompanies. Therefore selling inmain board stocks threw theindex into the red zone at anumber of occasions and itfinally ended the session below10,700 points.
Some major players thatannounced their quarterly cor-porate results during the day
See # 16 Page 11
KSE fails to holdabove 2-year high
HONG KONG/SHANGHAI:Shares in Hong Kong andShanghai slipped on Tuesday asbanks fell ahead of earningsreports, offsetting gains in refinersafter Beijing raised fuel prices.
The Hang Seng Index fell 0.1per cent to 23,601 points, withAluminum Corp of China(Chalco), the top loser, down4.3 per cent after disappointingresults.
China's key stock index slipped0.3 per cent to 3,041 but heldabove the psychological 3,000level, which it broke through onMonday's 2.6 per cent.
"For the broader market, thevery fast break through the3,000-point mark means someconsolidation needs to hap-pen," said Xingyu Chen, ana-lyst at Phillip Securities inSHANGHAI, adding that thefocus now was on earningsfrom major banks later thisweek.
Agricultural Bank of ChinaLtd was down 2.5 per cent,while Industrial andCommercial Bank of China Ltdfell 1.8 per cent. Bank of China,
which reports on Wednesday,dropped 1.4 per cent.
Robust loan growth andattractive valuations havetempted investors to make betson banks that have underper-formed the broader market formost the year, but investorspreferred to lock in some recentprofits before the quarterlynumbers.
China's biggest state lendersare expected to report a 23 percent rise in combined third-quarter profit, a median esti-mate of five analysts surveyedby Reuters showed.
"Loan demand isn't languish-ing and sour debts haven't piledup," said Wu Songkai, analystat Huatai United Securities Co."With policy risks now fading,banking stocks suddenly lookvery attractive."
The rally in banking shareshas helped the SHANGHAImarket jump 14.5 per cent sofar this month, despite an unex-pected rise in China's interestrates last week, cutting its loss-es for the year to 8 per centcompared with 19 per cent at
the end of September.ENERGY SHARES LIMIT
HK LOSSESIn Hong Kong, gains in refin-
ers helping to offset declines infinancials.
Oil majors rose after Chinalifted retail fuel prices by about3 per cent, the first increase inseven months. The move willhelp refiners' profit margins.
China Petroleum & ChemicalCorp (Sinopec) rose 3.1 percent and Petrochina Co Ltdfirmed 0.9 per cent, providingthe biggest boost to the HangSeng Index.
The Hang Seng has gained5.5 per cent this month, under-performing its SHANGHAIcounterpart, a trend that somemarket players expect will con-tinue over the next quarter.
The Hang Seng is trading ata forward 12-month price-to-earnings multiple of 12.7, thehighest since April this year,according to Thomson Reutersdata.
One blue-chip stock that sawa sharp sell-off was aluminumproducer Chalco.-Reuters
China, HK dip as banksdrop ahead of Q3 results
MUMBAI: The BSE Sensexeased 0.4 per cent on Tuesdaywith financials losing ground asinvestors took profits ahead ofan expected increase in interestrates by the Reserve Bank nextweek.
Trading was choppy withenergy giant RelianceIndustries, top car producerMaruti Suzuki and cigarette-to-hotels group ITC posting gains.
Traders said the undertoneremained firm on hopes forcontinued investment by for-eign funds, who have moved inmore than $11 billion since thestart of September.
"There is still some steam leftin the rally, looking at the paceat which money has been flow-ing in. Risk appetite is stillgood," said Anish Marfatia,head of sales trading atAvendus Securities.
The 30-share BSE indexdropped 81.73 points to20,221.39, with 19 of its com-ponents declining, after flip-ping between positive and neg-ative territories.
In the broader market, declin-ing shares led advancing onesin a ratio of 1.1:1 on relativelyhigh volume of 456 million
shares, provisional datashowed.
The benchmark has gained15.8 per cent so far this year,bolstered by foreign fundinflows of a record $24.3 bil-lion.
The NSE-50 index dropped0.4 per cent to 6,082. Marfatiasaid he expected the broaderindex to reach 6,200 in the next10 days.
The Reserve Bank of India(RBI), which is scheduled toreview policy on Nov. 2,warned on Tuesday that surgingfood prices were structural andwould put upward pressure oninflation and interest rates.
"Persistent price increases incommodities for which thereare less effective substitutes,with other things remainingequal, will raise the potentialrate of inflation over a period oftime," RBI Deputy GovernorSubir Gokarn said in a speech.
The central bank is widelyexpected to raise interest ratesby another 25 basis points nextTuesday as it continues to battleheadline inflation that rose to8.62 per cent on an annual basisin September.
See # 8 Page 11
Indian sharesshed 0.4pc; banks
down, Reliance up
TOKYO: Japan's Nikkei shareaverage slipped on Tuesday asthe yen hovered near a recordhigh against the dollar, addingto investor caution before thepeak of the corporate earningsseason.
Although the Nikkei brieflyturned positive in the after-noon, helped by what someanalysts said was buying offutures and short-covering, itremained stuck in a narrowrange.
Traders were hesitant to takefresh long positions after theyen firmed to a fresh 15-yearpeak of 80.41 against the dollaron Monday, approaching arecord high of 79.75 yen.
"It seems like it's only a mat-ter of time until the yen hits arecord high, and given the situ-ation, I think it's hard to justify
buying stocks now," saidKazutaka Oshima, president ofRakuten InvestmentManagement.
The benchmark Nikkeiclosed down 0.3 per cent at9,377.38, while the broaderTopix fell 0.4 per cent to817.94.
Trade was light on theTOKYO exchange's first sec-tion, with some 1.5 billionshares changing hands, near aone-month low hit on Monday.Declining stocks outnumberedadvancers, 881 to 603.
Shares of Sony, however, sawtheir most active trade in threemonths. It was also the mostactively traded stock in valueterms on the first section.
Sony rose nearly 3 per cent atone stage as traders cited
See # 13 Page 11
Nikkei downin choppy trade
US stocks mid-day
Materials fallafter results;broader mkts
emerge as flatNEW YORK: Soft commodityprices and disappointing resultsfrom the steel sector weighedon materials stocks on Tuesday,but a strong quarter at Fordkept spirits high about the earn-ings season.
Broader markets were littlechanged at midday as anencouraging reading on con-sumer confidence helped dis-cretionary shares, offsetting theimpact of weak revenue fore-casts from drugmaker Bristol-Myers Squibb Co and chipmanufacturer TexasInstruments Inc. Investors view
See # 14 Page 11
Weak banksdrive FTSE
lower LONDON: Weak banks helpeddrive Britain's top share indexto a lower close on Tuesday,with sentiment hit by a loss atUBS's investment bank and asinvestors locked in profits aftersharp gains over the last twomonths.
The FTSE 100 closed 44.68points, or 0.8 per cent, lower at5,707.30, its biggest one-dayper centage drop since Aug. 25.The index has risen more than 9per cent since the start ofSeptember.
See # 15 Page 11
MCB 3QCY10profit risesby 12.5pc
Staff Reporter
KARACHI: Pakistan's biggestlender by market value MCBBank Ltd has posted a 12.5 percent increase in its profit for thethird quarter of current calen-dar year said a notice issued toKarachi Stock Exchange (KSE)Tuesday.
See # 12 Page 11
Kapco 1Q nethikes 52.5pc
Aamir Abidi
KARACHI: A notice issuedto Karachi Stock Exchange(KSE) Tuesday said that KotAdu Power CompanyLimited (KAPCO) hasreported a jump of 52.5 percent (YoY) in its 1QFY11profit.
See # 10 Page 11
Meezan Bank9M earningshop up 52pc
Staff Reporter
KARACHI: Meezan BankLimited, the largest IslamicBank in Pakistan has recordedan impressive growth in prof-itability, deposits and totalassets in the first nine monthsof CY10, said a notice issued toKarachi Stock Exchange(KSE).
See # 9 Page 11
Mostly higher; Indonesia sets record high
South East Asian stocks
EU shares dip; UBS offon investment bank woes
ICI Pak3QCY10
profit up 22pcStaff Reporter
KARACHI: The Board ofDirectors of ICI PakistanLimited has announced thefinancial results for the quarterended September 30, 2010, anotice issued to Karachi StockExchange said Tuesday.
The company posted net salesincome of Rs8.5 billion whichwas 22 per cent higher over thesame period last year. Withhigher volumes and better unit
See # 11 Page 11
Lotte 9MCY10earning up 47pc
KARACHI: Lotte Pakistan (LOTPTA) Tuesday announced itscorporate results for the nine months ended September 30, 2010.
According to a notice issued by Karachi Stock Exchange (KSE),company earned a profit after tax of Rs3.19 billion translating intoan earning per share (EPS) of Rs2.1 in the nine months showingan increase of 47 per cent as compared to a PAT of Rs2.16 billionin the same period last year ---an EPS of Rs1.43.
Quarter-wise, for third quarter company posted earnings ofRs1.01 billion (EPS: Rs0.67), up 6 per cent compared to Rs955.83million (EPS: Rs0.63) in the same period last year.
Net revenues declined by 1 per cent to Rs9.82 billion in3QCY10 as compared to Rs9.93 billion in the same period lastyear. "This is due to a decline in custom duty on imported PTA
See # 26 Page 11
Wednesday, October 27, 20106
Volume 150,697,463
Value 4,487,158,164
Trades 73,269
Advanced 148
Declined 242
Unchanged 13
Total 403
Current 7,422.34
High 7,486.31
Low 7,410.96
Change i30.92
Current 10,658.15
High 10,747.82
Low 10,639.98
Change i45.56
Current 10,239.39
High 10,350.67
Low 10,216.65
Change i58.15
Market KSE 100 Index All Share Index KSE 30 Index
Current 16,801.97
High 17,005.93
Low 16,766.50
Change i112.66
KMI 30 IndexSymbolsAlert ! Unusual Movements
Technical AnalysisFundamental Highlights
As on Jun 30, 2009
Japan Power Generation Limited
JPGL closed up 0.14 at 1.68. Volume was 1,726 per cent above aver-
age (trending) and Bollinger Bands were 7 per cent narrower than nor-
mal. The company's loss after taxation stood at Rs452.352 million which
translates into a Loss Per Share of Rs2.89 for the year ended FY10.
JPGL is currently 22.7 per cent below its 200-day moving average and
is displaying an upward trend. Volatility is extremely low when com-
pared to the average volatility over the last 10 trading sessions. Volume
indicators reflect very strong flows of volume into JPGL (bullish). Trend
forecasting oscillators are currently bullish on JPGL.
RSI (14-day) 58.20 Total Assets (Rs in mn) 6,429.63
MA (10-day) 1.59 Total Equity (Rs in mn) (612.73)
MA (100-day) 1.73 Revenue (Rs in mn) 3,505.76
MA (200-day) 2.17 Interest Expense 760.24
1st Support 1.35 Loss after Taxation (592.51)
2nd Support 1.07 EPS 09 (Rs) (3.797)
1st Resistance 2.08 Book value / share (Rs) (3.93)
2nd Resistance 2.53 PE 10 E (x) -
Pivot 1.80 PBV (x) (0.43)
Technical AnalysisFundamental Highlights
As on Dec 31, 2009
ANL closed down -0.13 at 11.61. Volume was 697 per cent above aver-
age (trending) and Bollinger Bands were 18 per cent narrower than nor-
mal. The company's loss after taxation stood at Rs173.754 million
which translates into a Loss Per Share of Rs0.41 for the half year of
current calendar year (1HCY10).
ANL is currently 16.9 per cent below its 200-day moving average and
is displaying an upward trend. Volatility is extremely high when com-
pared to the average volatility over the last 10 trading sessions. Volume
indicators reflect very strong flows of volume into ANL (bullish). Trend
forecasting oscillators are currently bullish on ANL.
RSI (14-day) 67.21 Total Assets (Rs in mn) 38,525.22
MA (10-day) 10.72 Total Equity (Rs in mn) 18,469.71
MA (100-day) 10.84 Revenue (Rs in mn) 11,737.86
MA (200-day) 13.97 Interest Expense 2,424.42
1st Support 11.28 Profit after Taxation 60.53
2nd Support 10.98 EPS 09 (Rs) 0.003
1st Resistance 12.10 Book value / share (Rs) 37.85
2nd Resistance 12.62 PE 10 E (x) -
Pivot 11.80 PBV (x) 0.31
Azgard Nine Limited
Technical AnalysisFundamental Highlights
As on Jun 30, 2009
DSFL closed up 0.030 at 1.660. Volume was 229 per cent above aver-
age (trending) and Bollinger Bands were 2 per cent wider than normal.
The company's loss after taxation stood at Rs10.744 billion which trans-
lates into a Loss Per Share of Rs2.93 for the nine months of fiscal year
(9MFY10).
DSFL is currently 11.0 per cent below its 200-day moving average and
is displaying an upward trend. Volatility is relatively normal as compared
to the average volatility over the last 10 trading sessions. Volume indi-
cators reflect moderate flows of volume into DSFL (mildly bullish).
Trend forecasting oscillators are currently bullish on DSFL.
RSI (14-day) 61.88 Total Assets (Rs in mn) 16,668.04
MA (10-day) 1.56 Total Equity (Rs in mn) (5,909.01)
MA (100-day) 1.61 Revenue (Rs in mn) 4,169.62
MA (200-day) 1.86 Interest Expense 2,050.22
1st Support 1.54 Loss after Taxation (6,233.79)
2nd Support 1.46 EPS 09 (Rs) (17.017)
1st Resistance 1.73 Book value / share (Rs) (16.13)
2nd Resistance 1.84 PE 10 E (x) -
Pivot 1.65 PBV (x) (0.10)
Dewan Salman Fibre Limited
Technical AnalysisFundamental Highlights
As on Dec 31, 2009
BOK closed up 0.33 at 3.59. Volume was 1,485 per cent above aver-age (trending) and Bollinger Bands were 31 per cent wider than normal.The company's profit after taxation stood at Rs251.784 million whichtranslates into an Earning Per Share of Rs0.50 for the half year of cur-rent calendar year (1HCY10).BOK is currently 8.9 per cent below its 200-day moving average and isdisplaying an upward trend. Volatility is high as compared to the aver-age volatility over the last 10 trading sessions. Volume indicators reflectmoderate flows of volume into BOK (mildly bullish). Trend forecastingoscillators are currently bullish on BOK.
RSI (14-day) 64.04 Total Assets (Rs in mn) 38,810.57
MA (10-day) 3.27 Total Equity (Rs in mn) 5,962.30
MA (100-day) 3.45 Revenue (Rs in mn) 999.63
MA (200-day) 3.94 Interest Expense 2,390.39
1st Support 3.43 Loss after Taxation (637.18)
2nd Support 3.23 EPS 09 (Rs) (1.273)
1st Resistance 3.75 Book value / share (Rs) 11.92
2nd Resistance 3.87 PE 10 E (x) 3.59
Pivot 3.55 PBV (x) 0.30
Bank of Khyber Limited
OIL AND GAS
Performance of SR Oil and Gas Index
Open High Low Close Change % Change
1,354.40 1,363.93 1,341.53 1,351.00 -3.40 -0.25
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
5,905,847 - - 65,194.15 mn 1,065,010.06 mn 1,354.40
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
11.31 4.19 37.01 68.56 6.06 1,331.47
Attock PetroleumXDXB 691 4.58 299.71 303.05 297.00 297.79 -1.92 335803 374.20 287.99 250 - 300 20
Attock Refinery 853 17.83 101.46 102.80 97.50 98.06 -3.40 2140904 102.80 73.47 - - - -
BYCO Petroleum 3921 - 11.45 11.60 10.98 11.05 -0.40 1632118 12.87 9.62 - - - -
Mari Gas Company 735 16.59 126.50 127.05 121.20 122.47 -4.03 98938 136.88 106.00 32.17 100B 31 -
National Refinery XD 800 5.66 220.67 229.00 222.20 227.34 6.67 679600 230.84 183.25 125 - 200 -
Oil & Gas Development XD 43009 10.55 152.65 153.34 151.55 152.85 0.20 432227 154.25 133.00 82.5 - 55 -
Pak Petroleum 11950 7.75 190.96 192.60 189.60 190.69 -0.27 672118 214.10 168.70 130 20B 90 20B
Pak Oilfields XD 2365 6.15 245.39 247.00 241.10 242.30 -3.09 1199073 251.24 213.17 180 - 255 -
Pak Refinery Limited 350 - 80.15 83.99 78.11 78.93 -1.22 81683 85.90 48.26 - - - -
P.S.O XD 1715 4.52 269.69 271.00 266.50 266.98 -2.71 243006 286.99 233.10 50 - 80 -
Shell Gas LPG 226 16.58 38.28 38.50 36.70 36.81 -1.47 9717 40.28 27.32 - - - -
Shell Pakistan XD 685 9.42 183.62 184.98 183.50 183.66 0.04 12778 244.00 183.27 330 - 40 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
PERSONAL GOODS
Performance of SR Personal Goods Index
Open High Low Close Change % Change
946.42 960.25 934.59 943.83 -2.58 -0.27
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
32,914,601 - - 47,070.70 mn 119,924.22 mn 946.42
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.29 0.54 8.64 16.68 2.65 915.32
Amtex Limited XD 2415 1.91 7.40 7.55 7.01 7.15 -0.25 1882382 20.45 6.71 - - 30 -
Artistic Denim XD 840 4.99 19.62 19.90 19.80 19.87 0.25 598 24.05 17.55 20 - 20 -
Azam TextileSPOT 133 0.54 2.93 3.15 2.93 2.94 0.01 27797 3.45 1.35 - - 7.5 -
Azgard Nine 4493 290.25 11.74 12.32 11.50 11.61 -0.13 15879793 12.50 8.55 - - - -
Bannu Woolen XD 76 0.99 11.29 12.00 11.35 11.36 0.07 3601 14.00 7.50 - - 20 -
Bata (Pak) 76 4.71 540.69 567.72 525.00 567.68 26.99 31217 567.72 436.00 120 - - -
Chenab Limited 1150 - 3.51 3.72 3.40 3.45 -0.06 49343 4.61 2.93 - - - -
Colgate Palm 316 29.47 790.14 800.00 751.00 784.95 -5.19 4250 800.00 615.00 115 15B - -
Colony Mills Ltd 2442 2.73 3.00 3.00 2.95 2.95 -0.05 3551 4.50 2.23 - - - -
Crescent Jute 238 - 0.94 0.78 0.75 0.76 -0.18 3000 1.90 0.48 - - - -
Crescent Textile XD 492 3.14 21.82 22.91 20.85 21.99 0.17 105 27.00 17.89 - - 15 -
D S Ind Ltd 600 - 1.76 1.84 1.72 1.80 0.04 44520 2.49 1.44 - - - -
Dawood Lawrencepur 514 44.75 38.90 40.00 38.00 38.04 -0.86 545 50.35 37.08 - - 5 -
Dewan Farooque Spin. 600 2.50 3.40 3.15 3.05 3.15 -0.25 1000 4.00 2.05 - - - -
Din TextileXDXB 204 1.26 24.39 24.50 24.49 24.50 0.11 205 30.90 20.80 - - 20 10B
Ellcot Spinning XD 110 0.61 20.14 21.13 19.16 20.14 0.00 9763 25.45 17.21 7.5 - 35 -
Gadoon Textile XD 234 1.08 40.07 41.44 40.00 40.40 0.33 2553 48.30 33.80 - - 70 -
Ghani Value Glass XD 75 7.28 29.08 27.65 27.65 27.65 -1.43 503 38.64 26.70 8 400R 25 -
Ghazi Fabrics XD 326 1.02 3.40 3.90 3.50 3.50 0.10 2220 5.00 1.11 - - 10 -
Gillette Pakistan 192 52.96 71.25 71.50 67.70 71.50 0.25 221 73.00 57.50 - - - -
Gul Ahmed Textile XD 635 3.01 23.80 22.64 22.62 22.64 -1.16 110 25.40 19.99 5 - 12.5 -
Gulistan SpinningSPOT 146 1.45 7.00 6.60 6.50 6.57 -0.43 3003 8.13 5.00 - 10B 10 -
Gulistan TextileSPOT 190 1.61 18.84 18.85 18.75 18.85 0.01 120 24.84 17.89 - 10B 10 -
Gulshan SpinningSPOT 185 1.79 10.09 10.20 9.50 9.85 -0.24 35689 10.30 5.31 - 10B 10 20B
Hajra Textile 138 - 0.31 0.35 0.35 0.35 0.04 500 0.99 0.13 - - - -
Hira Txt. Mills LtdSPOT 716 1.30 4.69 4.80 4.51 4.54 -0.15 380615 4.88 2.52 - - 10 -
Ibrahim Fibres XD 3105 3.43 36.89 37.48 35.50 37.16 0.27 3025 39.00 34.05 - - 20 -
Ideal Spinning 99 0.26 3.25 3.50 3.10 3.10 -0.15 8000 4.79 2.02 - - - -
Idrees Textile XD 180 1.78 3.50 3.70 2.60 3.12 -0.38 5763 5.35 2.56 - - 10 -
Indus Dyeing XD 181 3.22 232.21 243.82 220.70 243.31 11.10 9266 269.50 205.00 15 - - -
Int Knitwear XD 32 5.54 9.50 10.50 9.95 10.48 0.98 5183 10.90 7.00 - - 6 -
J K SpinningXDXB 179 0.47 6.75 7.25 5.75 6.99 0.24 2112 10.30 5.12 - - 20 5B
Kohinoor Ind 303 - 1.58 1.69 1.50 1.50 -0.08 1176 1.97 1.01 - - - -
Kohinoor Spinning XD 1300 1.05 1.19 1.15 1.00 1.15 -0.04 12001 2.00 0.56 - - 5 -
Kohinoor Textile 1455 2.81 5.47 5.69 5.35 5.37 -0.10 17566 6.30 4.00 - - - -
Masood TextileSPOT 600 1.06 21.03 20.99 20.25 20.65 -0.38 1681 23.25 18.51 15 - 15 100R
Mian Textile 221 - 0.45 0.57 0.43 0.43 -0.02 130 0.98 0.01 - - - -
Mukhtar Textile 145 - 0.52 0.65 0.41 0.46 -0.06 5012 0.99 0.25 - - - -
Nagina Cotton 187 0.75 14.97 15.80 14.50 14.55 -0.42 10854 17.50 12.00 - - 20SD -
Nishat (Chunian)SPOT 1586 2.90 21.81 22.90 22.40 22.90 1.09 4941888 22.90 14.64 - 50R 15 -
Nishat Mills XD 3516 4.54 52.82 54.27 52.53 52.90 0.08 8231033 54.27 40.81 20 - 25 45R
Pak Synthetic 560 7.28 7.10 7.25 6.70 6.70 -0.40 5882 7.90 5.16 12.5 - - -
Paramount Spin. SPOT 158 1.52 10.99 10.56 9.99 10.39 -0.60 26858 11.25 6.00 - 10B 10 10B
Prosperity XD 185 1.04 13.38 14.35 13.55 13.55 0.17 3055 21.47 12.51 20 - 30 -
Ravi Textile 250 4.41 1.78 1.85 1.70 1.72 -0.06 85195 4.69 1.38 - - - -
Reliance Weaving 308 0.74 9.71 9.71 9.01 9.70 -0.01 11780 12.00 6.91 - - 25SD -
Rupali Poly XD 341 4.19 34.95 36.00 33.21 33.35 -1.60 4394 36.75 31.35 40 - 40 -
Safa Textile 40 6.95 5.10 4.10 4.10 4.10 -1.00 200 5.10 2.76 - - - -
Saif Textile 264 1.54 3.88 4.69 4.49 4.51 0.63 220 5.44 2.01 - - - -
Sajjad Textile 213 0.39 0.97 1.49 1.49 1.49 0.52 1000 2.00 0.16 - - - -
Sally TextileSPOT 88 0.37 5.00 5.75 5.06 5.73 0.73 49602 6.20 2.74 - - 10 -
Samin Textile XR 134 - 6.52 6.80 6.41 6.42 -0.10 8021 8.69 5.02 - - - 100R
Saritow Spinning 133 0.60 2.20 2.25 1.90 2.19 -0.01 2996 2.99 1.01 - - - -
Service Ind 120 5.97 243.14 255.29 230.99 231.73-11.41 30880 255.29 176.00 200 - - -
Shadman Cot 176 1.99 11.95 10.95 10.95 10.95 -1.00 500 15.00 8.00 - - - -
Shahtaj Textile XD 97 - 16.38 16.00 15.61 15.61 -0.77 102 21.90 14.75 20 - 45 -
Shield Corp XD 39 9.15 53.61 56.29 51.01 52.00 -1.61 268 60.00 49.60 - 30B 10 -
Suraj Cotton XD 180 1.07 29.45 30.49 29.50 29.90 0.45 5501 37.50 29.30 15 - 50 -
Tata Textile XD 173 0.19 18.68 19.64 19.00 19.61 0.93 52715 21.42 14.00 - - 25 -
Thal LimitedXDXB 307 3.91 93.11 93.50 91.10 91.54 -1.57 32429 112.80 88.60 20 20B 80 20B
Treet Corp 418 10.28 49.66 52.14 48.10 49.86 0.20 953395 52.14 37.20 - - - -
Yousuf Weaving 400 6.47 1.21 1.15 1.00 1.10 -0.11 12814 1.90 0.73 - - - -
Zil Limited XD 53 3.08 46.33 47.30 45.50 46.00 -0.33 4707 48.75 33.00 40 10B 35 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
HOUSEHOLD GOODS
Performance of SR Household Goods Index
Open High Low Close Change % Change
1,151.86 1,163.18 1,144.08 1,149.96 -1.91 -0.17
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
179,965 - - 3,763.71 mn 5,496.55 mn 1,152.43
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
3.00 0.32 10.64 6.27 2.09 1,137.44
Diamond Ind 90 20.72 13.89 14.89 12.89 13.88 -0.01 1238 19.70 9.20 - - - -
Pak Elektron 1174 3.03 14.30 14.48 14.06 14.16 -0.14 164674 15.95 12.17 - 10B - 10B
Singer Pak 341 17.91 18.13 19.13 18.90 18.98 0.85 757 24.14 16.51 - 10B - -
Tariq Glass Ind 231 2.77 17.35 17.38 17.00 17.01 -0.34 13295 19.12 14.50 - - 17.5 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FOOD PRODUCERS
Performance of SR Food Producers Index
Open High Low Close Change % Change
1,493.10 1,516.42 1,481.34 1,500.34 7.24 0.48
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
241,148 - - 11,335.33 mn 193,379.77 mn 1,500.34
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
32.70 9.91 30.30 30.57 0.93 1,482.95
Adam Sugar 58 0.72 12.60 13.55 13.23 13.55 0.95 1497 14.03 10.50 10 - - -AL-Noor Sugar 186 4.35 42.70 43.01 42.80 42.80 0.10 55006 45.99 39.25 40 - - -Chashma Sugar 287 0.75 9.15 9.50 9.15 9.25 0.10 3012 11.40 8.00 - - - -Faran Sugar 217 3.18 19.75 19.70 19.50 19.70 -0.05 1000 20.25 15.90 17.5 - - -Habib Sugar 600 6.25 30.53 30.40 29.81 30.31 -0.22 94388 32.25 25.00 35 25B - -Habib-ADM Ltd XD 200 11.57 12.15 12.70 12.15 12.50 0.35 505 16.98 11.90 40 - 40 -Hussein Sugar 121 - 11.98 11.75 10.98 10.98 -1.00 601 14.00 4.22 - - - -J D W Sugar 490 2.65 76.00 79.60 76.50 79.03 3.03 23664 79.60 60.10 40 - 0 12.5RKohinoor Sugar 109 - 5.30 5.89 4.30 4.33 -0.97 3502 8.50 2.80 - - - -Mirza Sugar 141 0.30 5.00 5.40 4.80 4.80 -0.20 835 5.70 3.55 - - - -Mithchells Fruit 50 8.57 70.99 70.50 70.50 70.50 -0.49 102 76.00 61.00 20 - - -National Foods XD 414 16.03 42.87 43.98 42.00 42.96 0.09 14836 65.29 39.01 - 25B 12 -Noon Pakistan XD 48 10.05 22.46 21.75 21.34 21.60 -0.86 306 32.53 18.95 - 10B 12 -Noon Sugar 165 - 12.98 12.95 12.70 12.95 -0.03 1132 12.99 10.00 50 10B - -Quice Food 107 - 2.23 2.21 2.13 2.21 -0.02 5000 3.40 1.60 - - - -Shakarganj Mills 695 - 5.40 5.95 4.71 5.05 -0.35 31482 6.40 3.02 - - - -Tandlianwala 1177 283.36 30.40 31.92 30.50 31.17 0.77 2960 35.50 22.45 - - - -UniLever Pakistan 665 22.68 4020.00 4079.99 3992.01 4050.18 30.18 1008 4220.00 3710.00 458 - 178 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
AUTOMOBILE AND PARTS
Performance of SR Automobile and Parts Index
Open High Low Close Change % Change
1,118.41 1,127.62 1,102.37 1,106.15 -12.26 -1.10
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
662,333 - - 6,768.53 mn 40,290.14 mn 1,123.44
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
4.08 1.03 25.35 20.42 5.01 1,097.00
Agriautos Ind XD 144 5.15 68.15 69.50 68.00 68.00 -0.15 4901 76.98 63.01 40 - 90 -Atlas Battery 101 5.77 153.44 155.90 152.05 153.09 -0.35 10731 206.95 131.00 100 20B 100 20BAtlas Honda 626 7.60 114.94 114.00 109.20 109.20 -5.74 2539 122.51 92.00 80 30B - -Baluchistan Wheels Ltd XD 133 5.83 30.20 31.00 31.00 31.00 0.80 923 33.15 28.25 15 - 25 -Dewan Motors 890 - 1.49 1.54 1.47 1.48 -0.01 558516 2.09 1.16 - - - -Exide (PAK) 56 4.37 149.90 152.90 148.00 152.50 2.60 507 155.99 121.10 50 - 60 -General Tyre XD 598 6.58 24.25 24.24 23.20 24.00 -0.25 1002 27.35 21.71 - - 20 -Ghandhara Nissan 450 - 4.32 4.47 4.31 4.40 0.08 754 6.30 4.03 - - - -Ghani Automobile Ind 200 7.56 4.58 5.00 4.50 4.84 0.26 10812 5.55 3.55 - - - -Honda Atlas Cars 1428 - 12.09 12.20 11.70 11.72 -0.37 13656 13.50 9.65 - - - -Indus Motors 786 5.31 234.30 234.00 232.00 232.60 -1.70 35285 287.00 212.29 100 - 150 -Pak Suzuki 823 11.76 75.37 77.00 73.80 73.84 -1.53 20605 89.99 69.25 5 - - -Sazgar EngineeringXDXB 150 3.92 21.45 21.65 20.99 21.00 -0.45 2099 27.85 19.50 - 20B 10 20B
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
INDUSTRIAL ENGINEERING
Performance of SR Industrial Engineering Index
Open High Low Close Change % Change
1,557.72 1,577.78 1,512.22 1,524.26 -33.46 -2.15
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
277,307 - - 1,336.62 mn 31,507.54 mn 1,557.72
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
8.02 3.05 38.02 131.49 16.40 1,433.87
Ados Pak 66 3.26 16.40 16.24 15.41 15.96 -0.44 1763 21.96 14.62 20 - - -
AL-Ghazi Tractor 215 4.84 207.44 209.50 200.00 201.98 -5.46 28668 227.45 200.00 400 - 150 -
Bolan CastingXDXB 104 - 46.40 47.00 44.15 46.87 0.47 4015 51.99 36.10 - 20B 25 10B
Ghandhara Ind 213 2.10 13.07 13.33 13.00 13.33 0.26 15199 19.50 11.29 - - - -
Hinopak Motor 124 - 123.90 130.09 130.09 130.09 6.19 182 138.45 108.11 17.15 - - -
KSB Pumps 132 8.81 76.56 75.00 73.55 73.55 -3.01 112 91.00 73.55 35 - - -
Millat TractorsXDXB 366 6.16 493.50 500.00 477.00 480.87 -12.63 227365 597.90 390.00 450 25B 650 25B
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
GENERAL INDUSTRIALS
Performance of SR General Industrials Index
Open High Low Close Change % Change
917.28 919.98 894.74 907.97 -9.31 -1.01
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
221,755 - - 3,043.31 mn 33,691.81 mn 917.28
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.59 1.14 43.91 15.55 6.01 889.63
Cherat PapersackXDXB 115 1.64 43.78 45.96 44.10 45.96 2.18 174066 51.05 34.00 - - 20 25B
ECOPACK Ltd 230 - 2.31 2.39 2.07 2.37 0.06 26828 2.86 1.70 - - - -
Ghani GlassXDXB 1067 4.39 48.10 48.69 47.70 47.71 -0.39 7952 61.99 45.75 30 10B 25 10B
MACPAC Films 389 - 2.56 2.65 2.65 2.65 0.09 1000 4.50 1.60 - - - -
Packages Ltd 844 53.95 107.71 107.75 105.00 105.21 -2.50 6022 123.00 98.00 32.5 - - -
Siemens Engineering 82 10.23 1242.65 1239.99 1201.00 1239.67 -2.98 131 1274.00 1040.01 900 - 900 -
Tri-Pack Films 300 7.46 103.80 103.90 101.10 102.33 -1.47 5755 105.74 91.00 100 - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
CONSTRUCTION AND MATERIALS
Performance of SR Construction and Materials Index
Open High Low Close Change % Change
992.98 1,004.59 962.85 973.77 -19.21 -1.93
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
14,939,480 - - 54,792.74 mn 69,736.86 mn 997.78
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.87 0.56 7.10 19.04 2.42 972.52
Al-Abbas Cement 1828 - 3.25 3.35 3.12 3.19 -0.06 20961 4.20 2.80 - - - 100R
Attock Cement XD 866 5.06 63.30 63.89 62.25 63.61 0.31 141227 71.80 60.30 50 20B 50 -
Berger Paints 182 - 17.54 18.00 16.54 16.60 -0.94 42940 20.00 14.01 - - - 122R
Cherat Cement 956 - 12.00 12.40 11.40 11.42 -0.58 33001 12.50 8.90 - - - -
Dadabhoy Cement 982 12.69 1.53 1.69 1.50 1.65 0.12 6001 2.74 1.30 - - - -
Dandot Cement 948 - 2.00 1.71 1.70 1.70 -0.30 8901 3.90 1.02 - - - -
Dewan Cement 3574 - 1.64 1.64 1.50 1.52 -0.12 52896 2.20 1.30 - - - -
DG Khan Cement Ltd 3651 37.11 27.48 27.67 26.65 26.72 -0.76 3621520 28.30 23.02 - 20R - 20R
Fauji Cement 6933 15.15 5.09 5.15 4.95 5.00 -0.09 321354 5.50 4.51 - - - -
Fecto Cement 502 - 5.10 5.10 5.05 5.10 0.00 300 7.50 4.25 - 10B - -
Flying Cement Ltd 1760 - 2.05 2.05 1.90 1.90 -0.15 47194 2.30 1.74 - - - -
Frontier Ceramics 77 - 3.80 3.40 2.80 2.80 -1.00 522 5.00 1.91 - - - -
Haydery Const 32 - 0.73 0.74 0.54 0.60 -0.13 318238 2.00 0.25 - - - -
Kohat Cement 1288 - 6.01 6.06 5.80 6.02 0.01 236110 6.60 5.50 - - - -
Lafarge Pakistan Cmt. 13126 - 3.40 3.46 2.89 2.92 -0.48 9170830 3.65 2.60 - - - -
Lucky Cement XD 3234 6.52 72.69 73.90 72.10 72.57 -0.12 744007 74.00 62.60 40 - 40 -
Maple Leaf Cement 5261 1.35 3.05 3.07 2.87 2.90 -0.15 152249 3.54 2.51 - - - -
Pioneer Cement 2228 - 8.37 8.25 8.00 8.02 -0.35 17555 8.58 6.80 - - - -
Safe Mix Concrete 200 - 6.62 6.94 6.15 6.15 -0.47 116 9.47 5.50 - - - -
Shabbir Tiles 361 - 8.00 8.90 8.00 8.00 0.00 2986 11.60 7.56 - - - -
Thatta Cement 7982080.00 21.85 20.82 20.80 20.80 -1.05 553 22.24 17.74 - - - 50R
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
INDUSTRIAL METALS AND MINING
Performance of SR Industrial Metals and Mining Index
Open High Low Close Change % Change
937.93 960.40 923.45 928.10 -9.83 -1.05
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
610,425 - - 3,596.11 mn 8,862.81 mn 937.93
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.93 0.97 33.10 30.91 10.55 928.10
Crescent Steel 565 3.36 25.00 25.50 24.75 24.81 -0.19 51180 28.50 23.75 - - 30 -
Dost Steels Ltd 675 - 3.15 3.25 2.84 2.85 -0.30 55617 3.39 1.65 - - - -
Huffaz Pipe 555 5.98 12.93 13.93 12.90 13.93 1.00 90146 16.75 12.25 - 30B - -
International Ind 1199 4.51 47.04 47.00 46.20 46.29 -0.75 103368 70.71 45.60 - - 40 20B
Siddiqsons Tin XD 785 10.23 9.07 10.07 9.00 9.00 -0.07 310114 10.80 8.00 10 - 7.5 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FORESTRY AND PAPER
Performance of SR Forestry & Paper Index
Open High Low Close Change % Change
1,140.72 1,149.10 1,116.51 1,122.22 -18.50 -1.62
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
78,975 - - 1,186.83 mn 3,109.91 mn 1,147.10
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
5.81 0.43 7.47 25.28 4.35 1,120.95
Century Paper 707 - 17.92 18.00 17.70 17.82 -0.10 58900 22.70 17.31 - 425R - -
Pak Paper ProductXDXB 50 8.07 42.47 43.48 41.10 41.95 -0.52 1224 62.85 38.61 20 - 25 33.33B
Security Paper 411 6.12 40.69 41.00 39.60 39.68 -1.01 18851 48.98 38.10 50 - 50 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
CHEMICALS
Performance of SR Chemicals Index
Open High Low Close Change % Change
1,200.05 1,209.45 1,186.80 1,191.13 -8.92 -0.74
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
32,559,147 - - 52,251.88 mn 266,880.71 mn 1,200.05
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.47 2.62 35.00 48.81 6.53 1,187.81
Agritech Limited 3924 9.73 21.56 22.56 21.65 22.00 0.44 16540 26.49 21.15 - - - -
Bawany AirXDXR 68 80.00 10.60 9.62 9.60 9.60 -1.00 686 16.78 9.53 - - 5 10R
Biafo Ind XD 200 4.32 41.70 43.78 39.75 39.75 -1.95 703 43.78 31.64 40 - 45 -
BOC (Pak) 250 11.40 83.80 87.99 80.50 83.01 -0.79 81144 87.99 66.90 90 - 15 -
Clariant Pak 273 5.48 158.06 160.99 155.00 155.82 -2.24 6651 174.00 154.27 125 - - -
Dawood Hercules 1203 7.81 170.05 170.00 168.99 169.27 -0.78 7533 183.25 155.38 40 10B 20 -
Descon Chemical 1996 - 2.46 2.54 2.27 2.47 0.01 66888 2.98 1.78 - - - -
Descon Oxychem Ltd. 1020 - 4.83 5.74 4.65 5.59 0.76 2920902 5.74 3.20 - - - -
Dewan Salman 3663 - 1.63 1.76 1.57 1.66 0.03 1513930 2.21 1.28 - - - -
Engro Corporation Ltd 3277 9.08 177.92 179.30 176.56 176.99 -0.93 1185017 190.80 165.60 6010B 40R 20 -
Engro Polymer 6635 - 13.60 13.75 13.30 13.42 -0.18 936081 15.20 10.62 - 27.5R - -
Fatima Fertilizer 22000 - 10.00 10.05 9.55 9.70 -0.30 1071553 12.10 9.02 - - - -
Fauji Fertilizer 6785 7.36 109.02 109.35 107.99 108.21 -0.81 416953 112.60 102.96 131.5 10B 75 -
Fauji Fert. Bin Qasim 9341 5.73 30.60 30.77 30.25 30.35 -0.25 1200040 30.90 26.59 40 - 17.5 -
Ghani Gases Ltd 725 9.09 12.25 12.45 11.95 12.00 -0.25 139154 13.85 7.41 - - - -
ICI Pakistan 1388 7.17 129.10 130.25 127.00 127.33 -1.77 763777 131.40 109.50 80 - 55 -
Lotte Pakistan 15142 3.63 10.43 10.75 10.11 10.16 -0.27 20916242 10.75 6.75 5 - - -
Mandviwala 74 - 1.37 2.00 1.37 1.45 0.08 74403 3.24 0.80 - - - -
Nimir Ind Chemical 1106 - 1.57 1.63 1.45 1.47 -0.10 413593 1.74 1.16 - - - -
Shaffi Chemical 120 1.88 2.76 2.99 1.80 2.50 -0.26 505 3.80 1.80 - - - -
Sitara Chem Ind XDXB 214 8.92 108.18 112.29 107.00 108.82 0.64 13615 128.01 104.56 75 - 25 5B
Sitara Peroxide 551 14.22 12.11 13.11 12.40 13.08 0.97 1951636 13.11 7.67 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
PHARMA AND BIO TECH
Performance of SR Pharma and Bio Tech Index
Open High Low Close Change % Change
884.49 896.14 859.64 873.86 -10.63 -1.20
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
232,193 - - 3,904.20 mn 29,095.42 mn 884.49
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.74 1.50 22.31 44.54 6.61 853.50
Abbott (Lab) 979 8.50 94.82 97.50 93.00 96.95 2.13 22942 97.50 77.00 120 - 20 -
Ferozsons (Lab) XB 250 6.61 89.00 88.00 86.60 87.46 -1.54 1200 124.00 85.60 10 20B - 20B
GlaxoSmithKline 1707 12.79 74.61 75.00 70.88 71.10 -3.51 24448 82.50 65.00 50 - - -
Highnoon (Lab) 165 6.89 24.53 24.95 24.49 24.89 0.36 1805 25.79 22.10 25 - - -
IBL HealthCare Ltd 200 17.78 8.32 8.89 7.77 8.00 -0.32 7454 8.90 6.10 - - - -
Otsuka Pak XD 100 7.14 31.00 32.50 31.50 32.00 1.00 3220 33.60 27.50 15 - - -
Searle Pak XD 306 5.32 62.07 62.85 61.50 62.06 -0.01 171119 64.19 53.36 15 15B 30 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
INDUSTRIAL TRANSPORTATION
Performance of SR Industrial Transportation Index
Open High Low Close Change % Change
747.52 747.79 734.26 734.66 -12.86 -1.72
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
13,097 - - 3,242.17 mn 12,910.18 mn 747.52
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
5.75 1.47 25.53 11.08 1.93 718.06
Pak Int Cont.Terminal XD 1092 7.06 71.84 71.90 70.50 70.55 -1.29 6980 87.86 60.05 - 20B 40 -
PNSC XD 1321 40.71 38.05 38.00 37.45 37.45 -0.60 6117 41.00 34.50 30 - 15 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
BOOK CLOSURES
Husein Industries 27-Oct 02-Nov - - 30-OctKhalid Siraj Tex Mills 27-Oct 03-Nov - - 30-OctKohinoor Energy 27-Oct 02-Nov 15(F) 19-Oct 27-OctLeather Up 27-Oct 02-Nov - - -Otsuka Pakistan 27-Oct 02-Nov 15(i) - -S.S Oil Mills 27-Oct 02-Nov - - 30-OctAtlas Bank 28-Oct 05-Nov - - 06-NovD S Industries 28-Oct 02-Nov - - 30-OctGulshan Spinning Mills 28-Oct 30-Oct 10,20B 20-Oct 29-OctMasood Textile Mills 28-Oct 05-Nov 15 20-Oct 30-OctNishat Chunian Power 28-Oct 03-Nov - - 30-OctParamount Spinning Mills 28-Oct 30-Oct 10,10B 20-Oct 29-OctPervez Ahmad Securities 28-Oct 02-Nov - - 30-OctSummit Bank 28-Oct 05-Nov - - 06-NovBestway Cement 29-Oct 05-Nov - - 30-OctDar Es Salam Textile Mills 29-Oct 05-Nov - - 30-OctGulistan Spinning Mills 29-Oct 31-Oct 10 21-Oct 30-OctGulistan Textile Mills 29-Oct 31-Oct 10 21-Oct 30-OctHira Textile Mills 29-Oct 04-Nov 10 21-Oct 30-Oct
INDICATIONS
# Extraordinary General Meeting
Company From To D/B/R Spot AGM/Date
OTHER SECTORS
Pakistan Cables 54 54.5 53 53 -1 1001TRG Pakistan Ltd. 4.3 4.38 4.07 4.09 -0.21 1661181Murree BreweryXDXB 75 75.85 73.5 73.85 -1.15 4921Shakarganj Food 1.2 0.95 0.91 0.93 -0.27 1500Shezan Internat.XD 97.9 96 93.2 93.65 -4.25 1290Grays of Cambr.XD 48.2 49.95 45.79 45.82 -2.38 3168Lakson Tobacco 342.65 344 335 341 -1.65 120Pak Tobacco 112.01 113 112.5 112.5 0.49 1055Shifa Int.Hosp.XD 30.98 31.5 29.44 29.44 -1.54 411Eye Television 21.01 21.5 21 21 -0.01 275P.I.A.C.(A) 2.21 2.29 2.13 2.24 0.03 26162AKD Capital 58.92 60 55.98 55.98 -2.94 29402Pace (Pak) Ltd. 3.36 3.41 3.11 3.15 -0.21 1108581Netsol Technol.XD 18.52 18.75 18.21 18.34 -0.18 354075Pak Telephone 1.81 1.95 1.7 1.7 -0.11 1002
Symbols Open High Low Close Change Vol
Wednesday, October 27, 20107
Technical Analysis Leverage Position
KSE 100 INDEX
Technical Outlook
KSE 100 INDEX closed down -45.56 points at 10,658.15. Volume was 112
per cent above average and Bollinger Bands were 23 per cent wider than
normal. As far as resistance level is concern, the market will see major 1st
resistance level at 10,724.00 and 2nd resistance level at 10,789.80, while
Index will continue to find its 1st support level at 10,616.15 and 2nd sup-
port level at 10,574.15.
KSE 100 INDEX is currently 6.7 per cent above its 200-day moving average
and is displaying an upward trend. Volatility is relatively normal as compared
to the average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into INDEX (mildly bullish). Trend forecast-
ing oscillators are currently bullish on INDEX. Momentum oscillator is cur-
rently indicating that INDEX is currently in an overbought condition.
RSI (14-day) 76.04 Support 1 10,616.15
MA (5-day) 10,611.82 Support 2 10,574.15
MA (10-day) 10,523.92 Resistance 1 10,724.00
MA (100-day) 9,981.13 Resistance 2 10,789.80
MA (200-day) 9,994.53 Pivot 10,682.00
Technical Analysis Leverage Position
Nishat Mills Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
NML closed up 0.08 at 52.90. Volume was 234 per cent above average
(trending) and Bollinger Bands were 9 per cent wider than normal.
NML is currently 2.2 per cent above its 200-day moving average and is dis-
playing an upward trend. Volatility is relatively normal as compared to the
average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into NML (bullish). Trend forecasting
oscillators are currently bullish on NML.
*Arif Habib Ltd 65 Buy
AKD Securities Ltd 59.97 Buy
TFD Research 74.2 Positive
RSI (14-day) 69.11 Free Float Shares (mn) 175.80
MA (10-day) 51.53 Free Float Rs (mn) 9,299.82
MA (100-day) 47.02 ** NOI Rs (mn) 238.92
MA (200-day) 51.77 Mean 53.13
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
United Bank Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
UBL closed up 2.17 at 57.47. Volume was 723 per cent above average
(trending) and Bollinger Bands were 14 per cent wider than normal.
UBL is currently 0.6 per cent below its 200-day moving average and is dis-
playing an upward trend. Volatility is extremely high when compared to the
average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into UBL (bullish). Trend forecasting
oscillators are currently bullish on UBL. Momentum oscillator is currently
indicating that UBL is currently in an overbought condition.
*Arif Habib Ltd 77 Buy
AKD Securities Ltd 56.82 Accumulate
TFD Research 78.44 Positive
RSI (14-day) 79.63 Free Float Shares (mn) 306.04
MA (10-day) 53.88 Free Float Rs (mn) 17,588.40
MA (100-day) 54.51 ** NOI Rs (mn) 44.86
MA (200-day) 57.82 Mean 56.40
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
National Bank of Pakistan
Brokerage House Fair Value Rs Recommendations
Technical Outlook
NBP closed down -0.70 at 67.11. Volume was 142 per cent above average
and Bollinger Bands were 22 per cent narrower than normal.
NBP is currently 1.0 per cent above its 200-day moving average and is dis-
playing 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 NBP (mildly bullish). Trend forecast-
ing oscillators are currently bullish on NBP.
*Arif Habib Ltd 65 Buy
AKD Securities Ltd 61.96 Neutral
TFD Research 92.3 Positive
RSI (14-day) 62.49 Free Float Shares (mn) 318.37
MA (10-day) 65.73 Free Float Rs (mn) 21,365.61
MA (100-day) 65.56 ** NOI Rs (mn) 61.70
MA (200-day) 71.82 Mean 67.57
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Dera Ghazi Khan Cement Co Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
DGKC closed down -0.76 at 26.72. Volume was 26 per cent above aver-
age and Bollinger Bands were 30 per cent wider than normal.
DGKC is currently 1.4 per cent below its 200-day moving average and is
displaying an upward trend. Volatility is relatively normal as compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into DGKC (mildly bullish). Trend fore-
casting oscillators are currently bullish on DGKC.
*Arif Habib Ltd 44 Buy
AKD Securities Ltd 43.29 Buy
TFD Research 36.85 Positive
RSI (14-day) 58.37 Free Float Shares (mn) 182.55
MA (10-day) 26.70 Free Float Rs (mn) 4,877.73
MA (100-day) 25.40 ** NOI Rs (mn) 25.10
MA (200-day) 27.10 Mean 27.13
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Askari Bank Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
AKBL closed up 0.33 at 16.35. Volume was 581 per cent above average
(trending) and Bollinger Bands were 5 per cent wider than normal.
AKBL is currently 13.2 per cent below its 200-day moving average and is
displaying an upward trend. Volatility is relatively normal as compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into AKBL (bullish). Trend forecasting
oscillators are currently bullish on AKBL. Momentum oscillator is currently
indicating that AKBL is currently in an overbought condition.
*Arif Habib Ltd 23 Buy
AKD Securities Ltd 14.75 Neutral
TFD Research 23.67 Positive
RSI (14-day) 74.14 Free Float Shares (mn) 321.37
MA (10-day) 15.43 Free Float Rs (mn) 5,254.43
MA (100-day) 15.28 ** NOI Rs (mn) N/A
MA (200-day) 18.83 Mean 16.23
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Bank Al-Falah Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
BAFL closed down -0.20 at 9.79. Volume was 19 per cent below average
and Bollinger Bands were 55 per cent wider than normal.
BAFL is currently 6.0 per cent below its 200-day moving average and is
displaying an upward trend. Volatility is extremely high when compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into BAFL (bullish). Trend forecasting
oscillators are currently bullish on BAFL.
*Arif Habib Ltd 14 Buy
AKD Securities Ltd 10.25 Accumulate
TFD Research 14.01 Positive
RSI (14-day) 69.90 Free Float Shares (mn) 674.58
MA (10-day) 9.26 Free Float Rs (mn) 6,604.12
MA (100-day) 8.87 ** NOI Rs (mn) N/A
MA (200-day) 10.41 Mean 9.88
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Fauji Fertiliser Bin Qasim Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
FFBL closed down -0.25 at 30.35. Volume was 28 per cent below average
and Bollinger Bands were 48 per cent wider than normal.
FFBL is currently 4.4 per cent above its 200-day moving average and is
displaying an upward trend. Volatility is relatively normal as compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into FFBL (bullish). Trend forecasting
oscillators are currently bullish on FFBL.
*Arif Habib Ltd 33 Buy
AKD Securities Ltd 32.06 Accumulate
TFD Research 29.1 Neutral
RSI (14-day) 66.33 Free Float Shares (mn) 326.94
MA (10-day) 30.13 Free Float Rs (mn) 9,922.58
MA (100-day) 28.10 ** NOI Rs (mn) 6.13
MA (200-day) 29.52 Mean 30.49
* Target price for Dec-10 & **Net Open Interest in future market
EQUITY INVESTMENT INSTRUMENTS
Performance of SR Equity Investment Instruments Index
Open High Low Close Change % Change
1,060.37 1,070.87 1,034.33 1,056.87 -3.50 -0.33
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
2,413,492 - - 29,771.58 mn 17,364.46 mn 1,062.96
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.88 0.28 4.09 104.19 26.64 1,051.99
1st Fid Leasing 264 - 1.45 1.47 1.33 1.33 -0.12 101 2.24 1.01 - - - -
AL-Meezan Mutual F.XD 1375 5.17 6.25 6.29 6.10 6.20 -0.05 65653 7.25 5.85 - - 18.5 -
AL-Noor Modaraba XD 210 4.17 2.60 2.60 2.50 2.50 -0.10 5100 3.44 2.10 - - 5 -
Atlas Fund of Funds 525 2.58 3.32 3.35 3.25 3.35 0.03 4501 4.50 2.53 - - 2.2 -
Constellation Modaraba 65 3.79 1.50 1.39 1.16 1.25 -0.25 16297 2.99 0.90 - - - -
Crescent St Mod. XD 200 1.78 0.77 0.89 0.65 0.71 -0.06 77859 1.10 0.16 - - 1.2 -
Elite Cap Mod.XD 113 2.78 2.14 2.47 1.81 1.81 -0.33 265 3.44 1.65 4.5 - 5 -
First Capital Mutual F. 300 4.95 4.50 4.75 4.60 4.60 0.10 6001 4.75 0.99 - - - -
First Dawood Mutual F. 581 - 1.73 1.77 1.30 1.56 -0.17 1201651 2.00 1.30 - - - -
Golden Arrow XD 760 2.99 2.81 2.80 2.70 2.75 -0.06 32609 3.88 2.32 - - 17 -
H B L Modaraba XD 397 4.62 5.21 5.22 5.21 5.22 0.01 1492 6.80 4.80 5 - 11 -
Habib Modaraba 1008 5.24 6.01 6.10 5.99 6.08 0.07 10401 7.44 5.56 20 - 21 -
JS Growth Fund 3180 36.00 2.90 2.99 2.75 2.88 -0.02 17710 3.70 2.65 - - 5 -
JS Value Fund 1186 9.86 2.60 2.87 2.66 2.76 0.16 479259 3.98 2.31 10 - 10 -
Meezan Bal.Fund XD 1200 5.53 5.52 5.75 5.51 5.75 0.23 3000 7.00 5.30 - - 15.5 -
Pak Prem Fund 1698 3.85 7.96 8.10 7.50 8.08 0.12 164401 9.86 7.00 - - 18.6 -
Pak Strat Fund 3000 6.88 7.05 7.21 7.05 7.15 0.10 192297 8.10 6.01 - - 11.53 -
Paramount Mod. XD 59 7.14 8.00 8.00 7.99 8.00 0.00 2024 9.45 6.55 15 - 18 -
PICIC Energy Fund 1000 1.64 5.61 5.70 5.60 5.65 0.04 36210 6.49 4.00 - - 10 -
PICIC Growth Fund 2835 5.20 8.20 8.29 8.06 8.11 -0.09 10110 10.25 7.60 - - 20 -
PICIC Inv Fund XD 2841 4.20 3.71 3.83 3.58 3.70 -0.01 61211 5.00 3.50 - - 10 -
Prud Modaraba 1st XD 872 2.53 0.99 0.99 0.92 0.96 -0.03 4007 1.20 0.70 - - 3 -
Punjab Modaraba 340 6.90 1.47 1.59 1.45 1.45 -0.02 19003 2.00 0.57 - - 1 -
Stand Chart Mod. XD 454 4.31 8.60 9.00 8.80 8.80 0.20 2101 10.99 7.75 16.5 - 17 -
Tri-Star 1st Modaraba 212 4.84 1.32 1.84 1.25 1.84 0.52 118 7.12 0.50 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FINANCIAL SERVICES
Performance of SR Financial Services Index
Open High Low Close Change % Change
387.17 397.14 368.79 372.85 -14.32 -3.70
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
14,826,669 - - 30,336.44 mn 26,688.06 mn 387.17
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
0.46 0.17 37.22 4.60 10.03 369.37
AMZ Ventures 225 - 0.59 0.60 0.52 0.57 -0.02 33555 1.10 0.42 - - - -
Arif Habib Investments XB360 3.25 17.00 17.05 16.50 16.50 -0.50 60044 20.99 13.00 - - - 20B
Arif Habib Limited XB 450 13.75 28.36 28.50 26.95 26.95 -1.41 263969 45.74 24.62 15 25B - 20B
Arif Habib Securities 3750 4.37 24.95 25.41 23.71 23.79 -1.16 4332895 34.99 20.90 - - 30 -
Arpak Int 40 3.97 12.00 11.00 11.00 11.00 -1.00 2203 18.37 4.00 - - - -
Dawood Equities 250 - 1.81 1.98 1.51 1.63 -0.18 2165439 2.91 1.51 - - - -
First Credit & Invest Bank Ltd 650 33.33 3.01 4.01 3.40 4.00 0.99 8791 4.50 2.00 - - - -
First National Equity 575 - 7.80 8.65 6.84 8.54 0.74 1501 11.75 6.84 - - - -
Grays Leasing 215 - 1.22 1.50 1.30 1.35 0.13 1012 4.00 0.32 - - - -
IGI Investment Bank 2121 12.69 2.01 2.09 2.01 2.03 0.02 5010 2.30 1.17 - - - -
Invest and Fin Sec XD 600 2.47 7.74 7.70 7.10 7.10 -0.64 1152 9.00 6.70 - - 11.5 -
Invest Bank 2849 - 0.65 0.88 0.60 0.80 0.15 419326 1.00 0.44 - - - -
Ist Cap Securities XB 3166 1.48 3.90 4.00 3.60 3.60 -0.30 55784 5.29 2.54 - 10B - 10B
Ist Dawood Bank 626 0.32 2.00 2.10 1.87 1.94 -0.06 59454 2.84 1.17 - - - -
Jah Siddiq Co 7633 - 10.44 10.68 9.92 9.98 -0.46 6606101 14.04 8.80 -243.778B 10 -
JOV and CO 508 - 2.72 2.84 2.55 2.66 -0.06 432891 5.71 1.96 - - - -
JS Global Cap XD 500 - 28.27 29.68 29.68 29.68 1.41 11170 40.89 24.25 150 - - -
JS Investment 1000 25.21 6.28 6.33 6.01 6.05 -0.23 177038 7.89 5.10 - - - -
KASB Securities 1000 - 4.09 4.40 3.90 4.04 -0.05 18301 5.25 3.20 - - - -
Orix Leasing 821 3.97 5.50 5.70 5.30 5.40 -0.10 3700 5.95 3.66 - - - -
Pervez Ahmed Sec 775 - 1.94 2.08 1.70 1.74 -0.20 175397 2.57 1.35 -231.08R - -
Saudi Pak Leasing 452 - 0.55 0.64 0.46 0.48 -0.07 451 1.70 0.40 - - - -
Stand Chart Leasing 978 4.79 2.68 2.50 2.30 2.30 -0.38 261 3.00 1.50 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
LIFE INSURANCE
Performance of SR Life Insurance Index
Open High Low Close Change % Change
871.21 867.67 857.30 858.52 -12.69 -1.46
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
3,987 - - 2,290.72 mn 10,025.43 mn 887.16
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
96.25 3.71 3.85 355.53 3.69 858.52
EFU Life Assurance XB 850 40.92 77.43 77.47 75.00 75.29 -2.14 3961 82.99 51.25 5513.33B - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
BANKS
Performance of SR Banks Index
Open High Low Close Change % Change
1,032.82 1,051.92 1,019.71 1,032.69 -0.13 -0.01
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
21,811,472 - - 257,548.02 mn 626,060.86 mn 1,032.82
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.18 0.97 13.45 34.35 4.78 996.53
Allied Bank Limited 7821 5.38 55.80 55.99 54.82 55.34 -0.46 370315 59.10 48.51 40 10B 20 -Askari Bank 6427 6.76 16.02 16.65 15.90 16.35 0.33 1825289 16.96 13.99 - 20B - -Atlas Bank 5001 - 1.91 2.08 1.91 1.95 0.04 17554 2.84 1.52 - - - -Bank Alfalah 13492 13.05 9.99 10.08 9.65 9.79 -0.20 1498912 10.19 7.32 8 - - -Bank AL-Habib 7322 6.90 31.79 32.49 31.85 32.01 0.22 91146 33.75 29.10 20 20B - -Bank Of Khyber 5004 3.59 3.26 3.67 3.35 3.59 0.33 1106276 3.99 2.50 - - - -Bank Of Punjab 5288 - 9.04 9.19 8.79 8.82 -0.22 1637022 10.49 7.35 - - - -BankIslami Pak 5280 - 3.47 3.55 3.30 3.31 -0.16 91006 3.69 2.31 - - - -Faysal Bank 6091 3.29 14.52 14.69 14.20 14.26 -0.26 52481 15.24 12.75 - - - -Habib Bank Ltd 10019 6.55 104.11 105.00 100.71 101.73 -2.38 185989 109.10 92.00 60 10B - -Habib Metropolitan Bank 8732 6.68 21.50 22.57 22.00 22.57 1.07 111810 22.57 18.02 10 16B - -JS Bank Ltd 6128 - 2.57 2.68 2.50 2.66 0.09 198549 2.90 2.00 - - - 66RKASB Bank Ltd 9509 - 2.49 2.55 2.40 2.42 -0.07 37528 3.70 2.03 - 26B - -MCB Bank Ltd 7602 9.48 204.61 206.39 202.40 203.20 -1.41 952005 214.20 180.40 110 10B 55 -Meezan Bank 6983 8.10 15.16 15.45 15.06 15.30 0.14 2402 15.95 13.80 - 5B - -Mybank Ltd 5304 - 2.19 2.28 2.14 2.17 -0.02 66112 2.79 1.62 - - - -National Bank 13455 5.63 67.81 68.44 66.90 67.11 -0.70 4662415 73.89 60.51 75 25B - -NIB Bank 40437 - 2.92 2.97 2.81 2.87 -0.05 570347 3.31 2.42 - - - -Royal Bank Ltd 17180 - 6.75 6.70 6.35 6.39 -0.36 21681 11.99 5.20 - - - -Samba Bank 14335 - 2.03 2.10 2.00 2.05 0.02 55855 2.65 1.55 - - -63.46RSilkbank Ltd 26716 12.73 2.84 2.94 2.76 2.80 -0.04 1129663 3.30 2.15 - - - -Soneri Bank 6023 - 6.58 7.25 6.55 6.84 0.26 430945 7.25 5.01 - - - -Stand Chart Bank 38716 3.33 6.85 6.95 6.15 6.80 -0.05 6602 8.50 6.00 - - - -Summit Bank Ltd 5000 - 3.13 3.10 2.97 3.00 -0.13 166724 3.78 2.30 - - - -United Bank Ltd 12242 6.76 55.30 57.82 55.00 57.47 2.17 6689568 58.35 49.90 25 10B 10 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
NON LIFE INSURANCE
Performance of SR Non Life Insurance Index
Open High Low Close Change % Change
711.32 721.44 687.33 693.76 -17.56 -2.47
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
1,354,011 - - 11,111.34 mn 43,752.38 mn 711.32
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
11.59 0.60 5.20 79.54 6.87 693.76
Adamjee Insurance XD 1237 13.07 74.38 75.25 71.15 71.91 -2.47 620174 89.50 63.05 30 10B 10 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
GAS WATER AND MULTIUTILITIES
Performance of SR Gas Water and Multiutilities Index
Open High Low Close Change % Change
1,724.31 1,772.82 1,709.10 1,734.41 10.10 0.59
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
844,443 - - 12,202.80 mn 37,141.19 mn 1,734.41
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
10.99 1.25 11.41 66.79 6.08 1,654.11
Sui North Gas 5491 9.13 31.05 31.59 30.30 30.68 -0.37 438959 33.40 25.00 - - 20 -Sui South GasXDXB 8390 3.69 23.75 24.60 23.80 24.19 0.44 405484 30.70 16.00 - - 15 25B
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
ELECTRICITY
Performance of SR Electricity Index
Open High Low Close Change % Change
1,192.09 1,211.74 1,182.97 1,188.38 -3.71 -0.31
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
12,564,353 - - 95,369.29 mn 98,146.22 mn 1,192.09
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
13.11 1.23 9.35 104.13 7.94 1,170.85
Genertech 198 - 0.90 1.10 0.82 0.95 0.05 82045 1.45 0.51 - - - -
Hub Power 11572 6.30 34.25 34.50 33.91 34.01 -0.24 648884 37.24 32.75 33.5 - 50 -
Japan Power 1560 - 1.54 2.25 1.52 1.68 0.14 1314412 2.25 0.70 - - - -
KESC 7932 - 2.21 2.30 2.11 2.14 -0.07 330925 2.50 1.92 - 31R - 7.8R
Kohinoor Power 126 2.39 4.50 4.80 4.80 4.80 0.30 1500 6.70 3.90 - - - -
Kot Addu Power XD 8803 4.92 40.12 41.26 40.30 40.48 0.36 956340 43.90 38.35 64.5 - 50 -
Nishat Chunian Power Ltd 3673 - 12.50 12.77 12.52 12.69 0.19 2097909 12.90 9.50 - - - -
Nishat Power Ltd 3541 96.86 13.51 13.99 13.41 13.56 0.05 6634701 13.99 9.25 - - - -
Sitara Energy Ltd XD 191 3.37 19.49 19.60 18.90 18.90 -0.59 101 23.49 18.70 20 - 20 -
Southern Electric 1367 - 2.21 2.25 2.08 2.14 -0.07 538677 3.19 2.05 - - - -
Tri-star Power XD 150 - 0.86 1.10 0.81 0.95 0.09 40900 1.58 0.33 3 - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FIXED LINE TELECOMMUNICATION
Performance of SR Fixed Line Telecommunication Index
Open High Low Close Change % Change
1,156.57 1,171.88 1,126.46 1,134.70 -21.87 -1.89
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
1,673,083 - - 50,077.79 mn 78,484.84 mn 1,156.57
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.14 0.79 12.84 62.56 10.19 1,129.75
Pak Datacom XD 78 4.54 92.55 93.00 90.00 92.17 -0.38 503 120.61 90.00 70 - 80 -Pakistan Telecomm Co A 37740 9.13 19.52 19.74 19.04 19.18 -0.34 947169 19.94 17.32 15 - 17.5 -Telecard 3000 1.01 2.44 2.50 2.34 2.36 -0.08 418446 2.97 1.80 - - 1 -WorldCall Tele 8606 - 2.77 2.87 2.67 2.67 -0.10 306965 3.09 2.30 - - - -Wateen Telecom Ltd 6175 - 3.90 3.99 3.80 3.84 -0.06 80736 5.85 3.60 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
Ask Gen Insurance 204 6.51 10.95 11.50 10.10 10.74 -0.21 3172 12.25 8.45 - - - 25R
Atlas Insurance 369 4.92 33.83 35.00 33.05 33.33 -0.50 9401 35.00 27.10 40 10B - -
Central Insurance XB 279 5.80 51.05 51.05 51.05 51.05 0.00 200 64.90 47.37 20 25B 10 10B
Century Insurance 457 6.84 11.00 11.68 10.55 10.94 -0.06 36180 11.99 9.42 - - - -
EFU General Ins. XB 1250 35.77 46.36 46.55 44.51 45.07 -1.29 28673 54.50 34.76 40 8.7B - -
IGI Insurance 718 14.22 80.80 83.00 80.02 80.51 -0.29 7325 84.00 66.02 35 - 10 20B
New Jub Insurance 791 9.90 58.14 60.50 58.00 58.00 -0.14 2600 60.50 52.21 30 20B - -
Pak Reinsurance 3000 - 15.96 16.13 15.13 15.23 -0.73 602416 18.40 12.50 30 - - -
Pak Gen Insurance 250 1.42 6.06 6.90 5.90 6.01 -0.05 728 7.11 5.06 5 25B - -
PICIC Ins Ltd 350 - 3.50 3.80 2.62 2.95 -0.55 30571 4.16 1.66 - - - -
Premier Insurance 303 5.03 9.32 9.50 9.00 9.30 -0.02 1703 10.30 8.00 20 15B - -
Reliance Insurance XB 252 4.40 6.61 6.43 6.42 6.43 -0.18 235 7.70 6.05 - - - -
Silver Star Insurance 253 1.74 7.05 7.10 6.92 7.01 -0.04 9601 10.00 6.00 - 20B - -
United Insurance XB 400 1.56 5.80 6.34 6.25 6.25 0.45 600 6.34 4.02 - 16B - -
Universal Insurance 210 - 3.02 2.75 2.70 2.75 -0.27 331 4.00 1.77 - - - -
UPTO 100 VOLUME
HICL 11.25 11.35 11.35 11.35 0.1 100
PICTPS 11.5 10.55 10.55 10.55 -0.95 100
BUXL 11.01 10.66 10.66 10.66 -0.35 100
BRR 1.25 1.25 1.25 1.25 0 77
BILF 0.71 1.19 0.9 1.06 0.35 74
FZTM 389.99 409 380.01 397.6 7.61 66
MIRKS 57 59.85 57 58.24 1.24 60
RMPL 1549.5 1626 1549 1625 75.5 46
MRNS 58.97 59.2 57.25 58.99 0.02 42
NESTLE 1954.01 1989.8 1930.23 1949.97 -4.04 41
GATI 44.6 44.4 42.37 42.37 -2.23 39
SANSM 13.85 13.85 13.85 13.85 0 30
AGSML 5.3 6 5.02 5.02 -0.28 26
NJLIC 42.36 42.05 42.05 42.05 -0.31 25
EMCO 2.8 3 2.46 2.56 -0.24 22
PSEL 150 142.68 142.57 142.63 -7.37 22
PNGRS 5.69 5.99 5.86 5.86 0.17 21
SHSML 11.24 11.5 11.25 11.25 0.01 20
TRIBL 1.57 2.57 1.41 1.41 -0.16 14
JVDC 59.9 61 57.11 59.5 -0.4 12
PHDL 38.29 40.2 38.51 38.86 0.57 11
FIMM 45.37 47.63 47.63 47.63 2.26 10
CWSM 1.57 1.57 1 1.46 -0.11 10
NSRM 16.19 16 16 16 -0.19 10
SHJS 65 64.75 64.75 64.75 -0.25 10
ISIL 74.97 76.75 76.75 76.75 1.78 10
ASFL 4.13 3.13 3.13 3.13 -1 6
FEM 1.15 1.18 1.16 1.16 0.01 5
MODAM 0.99 1.03 1.03 1.03 0.04 5
TRSM 2.39 1.5 1.5 1.5 -0.89 5
LMSM 3.25 4 2.25 3.13 -0.12 4
SFL 120 120.8 120.8 120.8 0.8 4
KML 2.7 3.68 2.05 2.33 -0.37 3
SAPL 132.54 138.85 132 138.85 6.31 3
FUDLM 5.4 5.46 5.11 5.46 0.06 2
FZCM 49.08 46.63 46.63 46.63 -2.45 2
MQTM 9.25 10.24 8.25 8.25 -1 2
NATM 9.7 9.7 8.7 9.7 0 2
SRSM 1.99 2.3 2 2 0.01 2
SHTM 0.7 0.9 0.9 0.9 0.2 2
CSUML 3.9 3.99 3.99 3.99 0.09 2
SGPL 0.71 1.65 0.99 0.99 0.28 2
TREI 1.78 2.75 1.99 1.99 0.21 2
WYETH 801 810 810 810 9 2
AKGL 5.5 6.25 4.9 4.9 -0.6 2
ARM 14.5 14.9 14.9 14.9 0.4 1
ESBL 2.84 2.79 2.79 2.79 -0.05 1
ALICO 17.5 17.5 17.5 17.5 0 1
CSIL 4.3 4.01 4.01 4.01 -0.29 1
AZTM 0.56 1.56 1.56 1.56 1 1
AATM 0.75 0.96 0.96 0.96 0.21 1
BCML 15 15 15 15 0 1
DMTM 3.5 4.39 4.39 4.39 0.89 1
SHDT 8.6 9.6 9.59 9.59 0.99 1
ARUJ 4.5 5 5 5 0.5 1
BHAT 185 185 185 185 0 1
ISTM 5 5.89 5.89 5.89 0.89 1
JUBS 2.99 3.49 3.49 3.49 0.5 1
BTL 47 47.5 47.5 47.5 0.5 1
FASM 29 29.99 29.99 29.99 0.99 1
AASM 31.97 31.99 31.99 31.99 0.02 1
TRPOL 0.72 0.65 0.65 0.65 -0.07 1
AABS 96.5 95.9 95.9 95.9 -0.6 1
BAFS 50.83 53.35 53.35 53.35 2.52 1
MLCFPS 5 5.98 5.98 5.98 0.98 1
ALTN 11 11 11 11 0 1
KOHE 22.84 23.69 23.35 23.35 0.51 1
PECO 299.5 305 300 300 0.5 1
ATEL 17 17.9 17.9 17.9 0.9 1
Symbols Open High Low Close Change Vol
FUTURE CONTRACTS
NML-OCT 52.81 54.25 52.65 52.84 0.03 640000
NML-NOV 53.37 54.6 53.2 53.47 0.1 578000
MCB-OCT 204.59 206 202.6 203.29 -1.3 396500
DGKC-OCT 27.49 27.49 26.7 26.78 -0.71 377500
NBP-OCT 67.82 68.25 67 67.15 -0.67 337500
OGDC-OCT 152.87 153.7 152.25 153.36 0.49 297500
ENGRO-OCT 178.15 179.48 176.86 177.17 -0.98 274500
ANL-OCT 11.72 12.25 11.5 11.69 -0.03 217500
ANL-NOV 11.85 12.25 11.67 11.75 -0.1 211500
NBP-NOV 68.39 68.69 67.4 67.66 -0.73 176500
ENGRO-NOV 178.43 179.45 176.6 176.92 -1.51 146500
POL-OCTB 245.85 246.9 241.5 242.47 -3.38 143500
MCB-NOV 205 206 203 203.29 -1.71 141500
PPL-OCT 191.34 192.35 190 190.55 -0.79 136000
POL-NOV 247.02 247.7 242.2 243.46 -3.56 120500
DGKC-NOV 27.58 27.58 26.9 26.97 -0.61 111000
PSO-OCT 269.69 270.9 267 267.33 -2.36 76500
PPL-NOV 191.23 192 190.35 191.16 -0.07 63500
AICL-NOV 75.09 76.1 72.05 72.8 -2.29 62500
PSO-NOV 270.9 270.9 266.5 266.89 -4.01 48000
OGDC-NOV 153 153 152 152.31 -0.69 39500
AICL-OCT 74.76 74.9 71.6 72.44 -2.32 30000
LUCK-OCT 72.98 73.74 71.8 72.4 -0.58 28000
UBL-OCT 55.2 57.8 54.95 57.43 2.23 26500
FFBL-OCT 30.58 30.7 30.4 30.7 0.12 25500
FFBL-NOV 31.08 30.75 30.75 30.75 -0.33 25000
LUCK-NOV 73.01 73.5 72 73 -0.01 22500
FFC-OCT 109.32 109.32 109.32 109.32 0 5000
NETSOL-NOV 18.81 18.81 18.81 18.81 0 4000
PTC-OCT 19.65 19.6 19.6 19.6 -0.05 2500
UBL-NOV 56.16 57 57 57 0.84 2000
Symbols Open High Low Close Change Vol
ZERO VOLUME
TSMF 2.2 1.77 1.77 1.77 -0.43 0
FNBM 7.23 7.1 7.1 7.1 -0.13 0
PAKMI 1.05 0.95 0.95 0.95 -0.1 0
SIBL 2.51 2.52 2.52 2.52 0.01 0
ALQT 3 3.65 3.65 3.65 0.65 0
APOT 3.99 4 4 4 0.01 0
DATM 0.32 0.34 0.34 0.34 0.02 0
GLAT 7.9 7.5 7.5 7.5 -0.4 0
Symbols Open High Low Close Change Vol
Al-Abbas Cement 47.14 3.10 3.00 3.30 3.45 3.20
Allied Bank Limited 66.75 54.75 54.20 55.95 56.55 55.40
Attock Cement 44.77 62.60 61.60 64.25 64.90 63.25
Arif Habib Limited 45.26 26.45 25.90 28.00 29.00 27.45
Arif Habib Securities 51.60 23.20 22.60 24.90 26.00 24.30
Adamjee Insurance 55.27 70.30 68.65 74.40 76.85 72.75
Askari Bank 74.14 15.95 15.55 16.70 17.05 16.30
Azgard Nine 67.21 11.30 11.00 12.10 12.65 11.80
Attock Petroleum 33.98 295.50 293.25 301.55 305.35 299.30
Attock Refinery 69.16 96.10 94.15 101.40 104.75 99.45
Bank Al-Falah 69.90 9.60 9.40 10.05 10.25 9.85
BankIslami Pak 54.60 3.25 3.15 3.50 3.65 3.40
Bank.Of.Punjab 61.08 8.65 8.55 9.05 9.35 8.95
Dewan Cement 47.69 1.45 1.40 1.60 1.70 1.55
D.G.K.Cement 58.37 26.35 26.00 27.35 28.05 27.00
Dewan Salman 61.88 1.55 1.45 1.75 1.85 1.65
Dost Steels Ltd 63.99 2.70 2.55 3.10 3.40 3.00
EFU General Insurance 66.81 44.20 43.35 46.25 47.40 45.40
EFU Life Assurance 65.51 74.35 73.45 76.85 78.40 75.90
Engro Chemical 51.71 175.95 174.90 178.70 180.35 177.60
Faysal Bank 59.05 14.05 13.90 14.55 14.85 14.40
Fauji Cement 53.26 4.90 4.85 5.10 5.25 5.05
Fauji Fert Bin 66.33 30.15 29.95 30.65 31.00 30.45
Fauji Fertilizer 57.16 107.70 107.15 109.05 109.90 108.50
Habib Bank Ltd 56.18 99.95 98.20 104.25 106.75 102.50
Hub Power 53.26 33.80 33.55 34.35 34.75 34.15
ICI Pakistan 63.14 126.15 124.95 129.40 131.45 128.20
Indus Motors 57.42 231.75 230.85 233.75 234.85 232.85
J.O.V.and CO 49.96 2.50 2.40 2.80 2.95 2.70
Japan Power 58.20 1.40 1.10 2.10 2.55 1.80
JS Bank Ltd 61.66 2.55 2.45 2.70 2.80 2.60
Jah Siddiq Co 44.21 9.70 9.45 10.45 10.95 10.20
Kot Addu Power 49.29 40.10 39.70 41.05 41.65 40.70
K.E.S.C 52.20 2.05 2.00 2.25 2.35 2.20
Lucky Cement 56.19 71.80 71.05 73.60 74.65 72.85
MCB Bank Ltd 64.93 201.60 200.00 205.60 208.00 204.00
Maple Leaf Cement 47.60 2.85 2.75 3.05 3.15 2.95
National Bank 62.49 66.50 65.95 68.05 69.00 67.50
Nishat (Chunian) 84.79 22.55 22.25 23.05 23.25 22.75
Netsol Technologies 46.99 18.10 17.90 18.65 18.95 18.45
NIB Bank 52.54 2.80 2.70 2.95 3.05 2.90
Nimir Ind.Chemical 51.82 1.40 1.35 1.60 1.70 1.50
Nishat Mills 69.11 52.20 51.50 53.95 54.95 53.25
Oil & Gas Dev. XD 69.93 151.80 150.80 153.60 154.35 152.60
PACE (Pakistan) Ltd. 58.86 3.05 2.90 3.35 3.50 3.20
Pervez Ahmed Sec 52.95 1.60 1.45 2.00 2.20 1.85
P.I.A.C.(A) 54.90 2.15 2.05 2.30 2.40 2.20
Pioneer Cement 50.53 7.95 7.85 8.20 8.35 8.10
Pak Oilfields 55.11 239.95 237.55 245.85 249.35 243.45
Pak Petroleum 60.14 189.30 187.95 192.30 193.95 190.95
Pak Suzuki 45.85 72.75 71.70 75.95 78.10 74.90
P.S.O. XD 48.96 265.30 263.65 269.80 272.65 268.15
P.T.C.L.A 52.36 18.90 18.60 19.60 20.00 19.30
Shell Pakistan 24.52 183.10 182.55 184.60 185.55 184.05
Sui North Gas 47.63 30.15 29.55 31.40 32.15 30.85
Sitara Peroxide 85.16 12.60 12.15 13.30 13.55 12.85
Sui South Gas 38.43 23.80 23.40 24.60 25.00 24.20
Telecard 52.20 2.30 2.25 2.45 2.55 2.40
TRG Pakistan 51.37 4.00 3.85 4.30 4.50 4.20
United Bank Ltd 79.63 55.70 53.95 58.50 59.60 56.75
WorldCall Tele 51.50 2.60 2.55 2.80 2.95 2.75
Company RSI 1st 2nd 1st 2nd Pivot
(14-day) Support Resistance
TECHNICAL LEVELS
Dynea Pakistan Limited 27-Oct 3:00
IGI Insurance Limited 27-Oct 3:00
Ismail Industries Limited 27-Oct 11:45
New Jubilee Insurance Co Ltd 27-Oct 3:30
Oil & Gas Development Company Limited 27-Oct 10:30
Safa Textiles Limited 27-Oct 11:30
Shell Gas LPG (Pakistan) Ltd 27-Oct 11:00
Hub Power Company Ltd 27-Oct 10:00
Clariant Pakistan Ltd 28-Oct 11:00
Muree Brewery Company Ltd 28-Oct 10:30
Pak Oman Advantage Fund 28-Oct 12:30
Pak Oman Advantage Islamic Fund 28-Oct 12:30
Pak Oman Advantage Islamic Income Fund 28-Oct 12:30
Pak Oman Advantage Stock Fund 28-Oct 12:30
Pakistan Engineering Co Ltd 28-Oct 11:00
Pakistan International Airlines Corporation 28-Oct 10:00
United Bank Ltd 28-Oct 10:00
NIB Bank Limited 29-Oct 3:00
Security Leasing Corp Ltd 29-Oct 11:00
BOARD MEETINGS
Company Date Time
Wednesday, October 27, 2010 8
HYDERABAD: DDO Revenue Barkat Rizvi giving away certificate to a Sindh University student
after three-day workshop on Accountability & Good Governess for Strengthening
Democracy organised by Women Media Centre at a local hotel.-APP
SUKKUR: Sindh ChiefMinister Syed Qaim Ali Shahhas said that Allah Almighty hasgifted Sindh with abundant natu-ral resources which are not beingproperly explored due to lack ofscientific and technical educa-tional skills.
He said this while inaugurat-ing Petroleum TechnicalTraining Institute (PTTI) atKhairpur. He said that people ofthe province have great capabili-ties and they after technicaltraining from such institutes willexplore and exploit the naturalresources for the socio-econom-ic uplift of the province.
The chief minister urged theyouth to pursue technical educa-tion as potential field related tooil & gas industries.
He said that technically edu-cated people are in great demandpresently therefore, STEVTA(Sindh Technical Education &Vocational Training Authority)has been established to make ouryouth technically able and capa-
ble for getting jobs in differentindustries of the country.
The chief minister said thatkeeping the importance of tech-nical education in view, theSindh government in collabora-tion with Federal Ministry ofPetroleum & Natural Resourceswould establish ten similarpetroleum institutes.
Earlier Sindh Chief MinisterSyed Qaim Ali Shah along withSindh Minister for TechnicalEducation & Chairman STEV-TA Abdul Salam Thaheem inau-gurated Petroleum TechnicalTraining Institute, completed ata cost of Rs88 million, whichincludes hostel, computer &instrumental laboratories.
The chief minister also inaugu-rated the internal road ofGovernment College ofTechnology Khairpur costingRs15 million. Sindh Minister forTechnical Education Abdul SalamThaheem and Managing DirectorSTEVTA Abdul Wahid Uqailialso spoke on the occasion.-APP
CM Qaimstresseson tech training
PTTI Khairpur inaugurated
ISLAMABAD: InternationalWorkshop on Inquiry-BasedLearning for science teachersunder French programme "Lamain a la pate-Hands on"(LAMAP) has started this week.
LAMAP is a French pro-gramme, which was started bythe great Physicist and NobelPrize winner Georges Charpakin 1996. The method of inquirybased teaching is rapidly grow-ing and being used by more than45 countries all over the world.
Pakistan Science Foundation(PSF) in collaboration withFrench Embassy in Pakistan andFederal Directorate ofEducation is organizing thetraining.
More than 30 master trainersincluding teachers from govern-ment, private sector schools andPSF officers will get trainingfrom the French experts.
The training workshop isbeing conducted by two Frenchexperts. PSF has planned totrain first batch of 30 mastertrainers, who will use LAMAPapproach in their schools toteach their students. PSF willalso provide low cost materialfor "doing science" at pilot level.
Printed material on inquiry-based learning will be providedfor teachers/students ofPakistan. This workshop willlead to a pilot programme ofactivity-based learning in 20
schools ofIslamabad/Rawalpindi.
Creating science awareness atgrassroots level is a statutoryfunction of PSF. It undertakes anumber of activities with majorfocus on the students in grades7-10. Organising S&T Fairs viz,S&T Expo 2007 "Shaping theFuture" [March-April 2007,Islamabad], and Internationaltraveling Expos including"Experiencing Mathematics"[April-May 2008, Islamabad,Lahore & Peshawar] and Expoon Environment "The Earth'sFuture in Our Hands" [Oct-Dec2009, Islamabad, Sukkur andMultan are some milestones ofthis series. -APP
Educators get ‘inquirybased learning’ lesson
PSF, France’s LAMAP hold workshop
ISLAMABAD: Professor DrHasan Mahmood Khan,Director, National Centre ofExcellence (NCE) in PhysicalChemistry, University ofPeshawar has been awardedthe best Oral Presentation Prizeand a shield at the 11th EurasiaConference on ChemicalSciences recently held inJordon.
Dr Khan along with Dr Jan-Nisar, another faculty memberof NCE, presented their research
work at the Conference, whichwas attended by senior profes-sors and scientists of 61 coun-tries from Europe, Asia andUSA including several nobleprize winners in Chemistry whoalso presented their work, said apress release.
His research presentationentitled "Radiation InducedDegradation of Lindane inWater" was based on theremoval of commonly usedpesticide and persistent organic
pollutant (POPs)lindane (hexachloro cyclo-
hexane) in water using advanceoxidation technologies. Thisresearch has been done as apart of HEC funded researchproject.
Earlier, the Centre wasplaced at the top positionamongst the 24 Centers in thecountry by HEC and theMinistry of Education onexcellent research and academ-ic performance.-APP
Eurasia moot awardslaurel to local scholar
MIRPUR: The 35th syndicatemeeting of the state-runUniversity of Azad Jammu &Kashmir has approved variousrecommendations of Financeand Planning Committee,Selection Boards, and AcademicCouncil, it was officiallydeclared.
The Vice Chancellor (VC)Quaid-e-Azam UniversityIslamabad, Prof Dr MasoomYasin Zai, Ex-ambassador ArifKamal, Prof Dr Asif Ali ofUniversity of AgricultureFaisalabad, Prof Dr AR Saleemiof UET Lahore, Prof DrMuhammad Qayum Khan, reg-istrar of the university, Prof DrGhulam Ghous, DirectorFinance and Planning, Prof DrMuhammad Rustam Khan,Controller of Examinations andall Deans of the faculties attend-ed the meeting.
President AJK RajaZulqarnain Khan, who is the
chancellor of the university,chaired the meeting held atMuzaffarbad.
Addressing the meeting theAJK president said it was a mat-ter of satisfaction that the uni-versity has made significantprogress in imparting qualityeducation in the region.
"The university administra-tion should carefully look at itsfee structure. Due to financialcrunch, it is a challenging phasefor the university as it has to payincreased salaries," he added.
"We have to combat chal-lenges of price hike and livingstandard but pressure of fee onstudents is not bearable," hesaid.
"Bids for the reconstruction ofRawalakot campus have beenopened and are in a process ofevaluation. The deputy chair-man has ensured the availabilityof funds for the reconstructionof Rawalakot campus," he told.
He said due to budgetary cutsthe university was confrontedwith serious financial problems,adding, budget has beenreduced drastically and fundsneeded for the developmentprojects were not being provid-ed to the university.
Speaking on the occasion theVC Quaid-e-Azam InternationalUniversity, Islamabad, saidsmooth running of the universi-ty at this stage was no less thana Jihad as budget cuts had ham-pered every thing.
The syndicate approved rec-ommendation of Rs831.607 mil-lion budget with a deficit ofRs35.167 million for the fiscalyear 2010-11, includingRs689.092 million for recurringfund, Rs90.931 million fordevelopment fund and Rs51.584million for self-support fund.
The house also consideredcreation, restructuring, and upgradation of various posts.-APP
Syndicate meet OKsvarious AJKU plans
Mahgul Rizwan Khan
All our life, we study andtry hard to get the topposition in the class.
Toiling day and night to makeit to the high scores and regis-ter ourselves in good books ofour teachers. But have we everthought that our whole life wejust work hard and achievegood grade, or get good jobsbut when we will die andALLAH will question us aboutwhat we did in our lives, ourgood and bad deeds. Probablynot that how much 1st posi-tions did we got? Or how manydegrees we pursued?
But ignoring such an impor-
tant reality we as students donot take studies as our way ofgaining knowledge but just amere source of showing off ourabilities. Why students alwayscompete with each other? Ourlife never stops if we don't getbest grades in exams or tests.For some time you'll be sadand will cry about it but in theend it's just going to be alright.You will get over with whathappened. Each failure allowsus to see our mistakes andgives us a chance to fix it!
One must understand thatlife or this world never cease toexist if we do not secure highpositions. Besides wasting ourenergies on keeping any eye on
how our peers are studying, Ithink it is better if we just con-centrate on our own studies.Healthy competition is goodbut taking it as a matter of lifeand death, I guess rational peo-ple will not indulge themselvesin such competitions.
I am an average student andin my academic career so far, Inever got any position but I amstill trying to achieve goodgrades. I never regret about myposition. And my life neverstops and I always learn tomove on further. I had learnedthat all this competition andgood marks are good to keepmy abilities under check. Nomarks are there to decide for
me that how much I am good orbad at anything. These can bethe guideline but the ultimatejudgment remains with me!
Why do I believe like that? Iheard a story about a teacherwho was talking to his studentsand discussing examinationpaper pattern. The students keptasking what he will give inpaper. And he kept saying allwhat you have studied. But stu-dents did not give up as theywanted to have good marks.What that teacher said was aninspiring answer. He said, "Ithink besides wasting your ener-gy on guessing out what willcome in the paper I guess you allshould work on your studies,
and it does not matter whatmarks you get. Life is beyondmarks. If you get good, fine, ifnot, even that is fine. Life doesnot stick up there. It is all in yourhands to turn up the tables."
This simple but touchingadvice inspired me and mademe realize that he is right. Mylife will never stop whether Ilike it or not. I want all thefriends to know, who are work-ing day and night to get goodpositions, it is good to targetgreat heights for you, but it isnot the end of road for you.Your life is precious and if youdon not take care of your selfnow then I am afraid you willsuffer in future. I am not say-
ing that do not work hard, onemust but take everything as apart of life. Actually we allshould never stop workinghard in our studies and shouldmanage doing other things aswell. I have seen people whojust go in their rooms and juststudy. This kind of an attitudenot only makes them tense,extra worried all the time butthe fear of losing to just two orfour marks often suppressesthem badly. I know people whoare really creative and talentedbut they just restrict them-selves to academics in order toget good marks. What aboutco-curricular activities. Whatabout all the fun? Remember,
all work and no play, makesJack a dull boy.
Well one should learn tokeep a balance in all his/heractivities. A big role is playedby the parents, as they oftenpressurize their children to bethe best. Their child's gradesgive respect to them amongtheir relatives and by all thisthe one who suffer is the stu-dent. I don't know about phys-ical stress but they sure getmental stress.
I request parents not to puttheir children under stressand would also like to tell thefellow students to take lifeeasy, study for your own selfnot for marks.
Life is Beyond Marks
PU BEdexams startfrom Nov 2
LAHORE: Punjab UniversityBachelor of Education (BEd),2nd Annual Examination 2009and 1st Annual Examination2010 will start fromNovember 2.
According to the date sheetissued, the written exam of BEdwill commence from November2 and conclude on December 7,while practical exam in sciencesubjects will be held fromDecember 13 to 20, 2010.
These examinations were ear-lier scheduled to be held fromSeptember 16 but postponedkeeping in view the difficultiesof candidates including majorproblem of verification ofCertificate in Teaching (CT)from the concerned Board, uni-versity and institution.
All candidates will receive theirexamination schedule (date sheet)within three days of issuance oftheir roll number slips.
In addition, no change of anykind has been made in rollnumbers which have beenissued to candidates and theexam centres about which theyalready have been informed.Therefore the candidates aredirected to appear for exam onthe said date and time at theexamination centre along withtheir original roll number slipsissued by the varsity.
Moreover, in any case of anyinquiry, they may contact PUExaminations Department or atphone numbers 042-99230260and 042-99231532.-APP
KARACHI: Khurshid Ahmed Shah, Federal Minister for Manpower & Labour giving away certificate to trainee officers of Old
Age Benefits Institution(EOBI) at Hamdard University. Prof Dr Nasim A Khan, Vice Chancellor HU and
Zafer Ahmed Gondal, Chairman EOBI are also present on this occasion.-Staff Photo
Teachers’ rolein rebuildingcommunitieslauded loudly
TFD Report
KARACHI: Teachers havebeen pivotal in helping in the re-building of communities hit bynatural calamities such as thefloods in Pakistan, the earth-quake in Haiti or by economicinstability like the global reces-sion, said experts on the firstday of a conference on educa-tion at Aga Khan University.
This three-day internationalconference is the result of col-laboration between Aga KhanUniversity Institute forEducation Development(AKU-IED), Department ofInternational Development, UKCampaign for QualityEducation, Aga KhanFoundation, Pakistan, andUnited Nation Children's Fund.
Teachers need to "continuallylearn and exercise reflectivepractices that can help thembecome lifelong learners," saidDr Muhammad Memon,Director, AKU-IED. With rap-idly changing scenario in edu-cation and the introduction ofeducation reforms, it is not pos-sible to follow the traditionalteaching styles and old con-cepts in education.
The conference will continuefor the next two days.
BISE KhideclaresHSC-IIresults
KARACHI: The Board ofIntermediate and SecondaryEducation (BISE) Karachiannounced the result ofHigher Secondary Certificate(HSC) Part-II (Class-XII)Annual Examinations-2010(Arts group) here onTuesday.-APP
9Wednesday, October 27, 2010
POLYPROPYLENE(PP) LINEAR LOW (LL)
Cash & Settlement 1240 1190
October (3rd Wednesday) 1270 1190
November (3rd Wednesday) 1270 1190
LONDON METAL EXCHANGE (PLASTIC)
LME Official Prices, US$ per tonne for October 25 2010
LME Official Prices, US$ per tonne for October 25 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC
ALLOY
Cash buyer 2230 2361 8500 2555 23750 26790 2552 2252
Cash seller 2240 2362 8501 2560 23755 26795 2552.5 2253
3-months buyer 2210 2391.5 8501 2584.5 23775 26755 2582 2280
3-months seller 2220 2392.5 8502 2585 23800 26760 2583 2290
15-months buyer 2175 2433 8345 2555 23300 26235 2605 2335
15-months seller 2185 2438 8355 2560 23400 26285 2610 2345
27-months buyer 2175 2492 7980 2525 22225 2560 2385
27-months seller 2185 2497 7990 2530 22325 2565 2395
LONDON METAL EXCHANGE (METALS)
NEW YORK: Oil rose slight-ly, hovering above $82 a bar-rel on Tuesday, getting a boostfrom growing US consumerconfidence, which can helpdrive fuel demand, partly off-set by a firming dollar thatmay cut demand abroad.
After swings between nega-tive and positive territory, UScrude for December was up 20cents at $82.72 abarrel by 1602GMT, extendinggains from twoprevious ses-sions.
ICE Brent rose13 cents to$83.67.
US consumerconfidence rose more inOctober than analysts polledby Reuters had expected,although it remained near his-toric lows, the ConferenceBoard reported.
A sharply firmer dollar,which strengthened 0.7 percent against a basket of for-eign currencies on Tuesday,could crimp demand for dol-lar-priced oil abroad.
"The consumer confidencedata was okay, not bearish,and prevented crude from slid-ing," said Andy Lebow, brokerat MF Global in New York.
"But we're trapped in rangehere as the market awaits Fedmeeting next week and what itwill bring."
Oil has mostly been tradingin the $75 to $85 a barrel
range since May.Analysts polled by Reuters
expect weekly US stocks datato show petroleum inventoriesrose in the top consumer lastweek, by an average 1.4 mil-lion barrels, on more crudeimports.
Gasoline stocks are forecastto have risen by 500,000 bar-rels.
"The US oil data will be a
reminder that the oil marketis well supplied and thatprices over $80 per barrel arenot driven by fundamentals,"said Carsten Fritsch, an oilanalyst at Commerzbank inFrankfurt.
US oil stocks data will bereleased late Tuesday byindustry group the AmericanPetroleum Institute (API)
while officialweekly datafrom the USE n e r g yI n f o r m a t i o nAdministrationis due onWe d n e s d a ymorning.
A n a l y s t sforecast a more bullish drawin US distillate stocks, whichhave been well above five-year averages this year. Theylikely fell by 1.9 million bar-rels in the week to Oct. 22, aReuters poll showed.
US refiners probablyshipped more fuel to Europeamid ongoing worker strikesin France against pensionreform. -Reuters
Oil up slightly after USconsumer confidence rise
Europeanvegetableoil prices
ROTTERDAM: The follow-ing were the Tuesday'sRotterdam vegetable oil price'sat 21:00 PST.
SOYOIL: EU degummedeuro tonne fob exmillDec10/Jan11 865.00+5.00,Feb11/Apr11 864.00+3.00.
RAPEOIL: Dutch/EU eurotonne fob exmill Nov10/Jan11855.00-5.00, Feb11/Apr11850.00+2.00, May11/Jul11855.00+0.00, Aug11/Oct11835.00+0.00.
SUNOIL: EU dlrs tonneextank six ports optionJan11/Mar11 1330.00+5.00,Apr11/Jun11 1310.00+0.00,Jul11/Sep11 1330.00+5.00.
LINOIL: Any origin dlrstonne extank RotterdamOct10/Nov10 1305.00-10.00.
CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Nov101035.00-7.50, Dec10 1032.50-7.50, Jan11/Mar11 1027.50-12.50, Apr11/Jun11 1030.00-12.50.
PALMOIL: RBD dlrs tonnecif Rotterdam Dec10 1062.50,Jan11/Mar11 1057.50.
PALMOIL: RBD dlrs tonnefob Malaysia Dec10 1017.50-5.00, Jan11/Mar11 1012.50-7.50.
PALM OLEIN: RBD dlrstonne fob Malaysia Dec101027.50-5.00, Jan11/Mar111022.50-7.50, Apr11/Jun111025.00-7.50.
PALM STEARIN: Dlrs tonnefob Malaysia Nov10 1005.00-5.00, Dec10 1005.00-5.00.
PALM FATTY ACID DIS-TILLATE: Dlrs tonne fobMalaysia Nov10 895.00-5.00.
COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1445.00-5.00,Nov10/Dec10 1445.00-5.00,Dec10/Jan11 1445.00-5.00.
PALMKERNEL OIL:Mal/Indon dlrs tonne cifRotterdam Oct10/Nov101465.00-10.00, Nov10/Dec101465.00-10.00, Dec10/Jan111465.00-5.00.
CASTOROIL: Any origindlrs tonne extank RotterdamOct10/Nov10 1925.00+0.00. -Reuters
National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest
Date Quotation in lots Settlement Settlement in Lots
Price Price
26-Oct-2010 CRUDE100 NO10 US$ Per Barrel 82.70 83.21 81.50 82.31 208 82.14 82.31 38
26-Oct-2010 CRUDE100 DE10 US$ Per Barrel 83.52 83.90 82.35 82.98 47 82.14 82.98 10
26-Oct-2010 CRUDE100 JA11 US$ Per Barrel 83.84 83.84 83.52 83.52 - 82.82 83.52 -
26-Oct-2010 SILVER - SL500 NO10 US$ Per Troy Ounce 23.77 23.77 23.34 23.34 - 23.61 23.34 -
26-Oct-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 23.80 23.80 23.20 23.34 123 23.61 23.34 66
26-Oct-2010 GOLD 01oz NO10 US$ Per Troy Ounce 1347.00 1347.00 1329.00 1333.70 321 1339.20 1333.70 529
26-Oct-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1347.00 1347.00 1329.00 1334.00 1,106 1339.60 1334.00 680
26-Oct-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1346.90 1348.00 1330.00 1334.90 789 1340.50 1334.90 1,109
26-Oct-2010 GOLD 100oz NO10 US$ Per Troy Ounce 1345.30 1345.30 1333.70 1333.70 - 1339.20 1333.70 -
26-Oct-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1342.30 1345.70 1331.60 1334.00 20 1339.60 1334.00 6
26-Oct-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1346.60 1346.60 1334.00 1334.00 - 1340.50 1334.90 -
26-Oct-2010 GOLD NO10 Per 10 grms 37038.00 37267.00 36900.00 36876.00 4 37081.00 36876.00 49
26-Oct-2010 GOLD DE10 Per 10 grms 37065.00 37276.00 37065.00 36885.00 2 37090.00 36885.00 9
26-Oct-2010 GOLD JA11 Per 10 grms 37294.00 37294.00 36902.00 36902.00 - 37108.00 36902.00 -
26-Oct-2010 Kilo GOLD NO10 Per 10 grms 37239.00 37239.00 36848.00 36848.00 - 37054.00 36848.00 1
26-Oct-2010 Kilo GOLD DE10 Per 10 grms 36854.00 37248.00 36854.00 36848.00 1 37063.00 36857.00 -
26-Oct-2010 Tola Gold50 NO10 Per Tola 43446.00 43446.00 42979.00 42979.00 - 43219.00 42979.00 -
26-Oct-2010 Tola Gold100 NO10 Per Tola 43435.00 43435.00 42979.00 42979.00 - 43219.00 42979.00 -
26-Oct-2010 Mini Gold 1-Aug Per 10 grms 38342.00 38342.00 37933.00 37933.00 - 38141.00 37933.00 -
26-Oct-2010 Mini Gold 2-Aug Per 10 grms 38290.00 38290.00 37972.00 37972.00 - 38180.00 37972.00 -
26-Oct-2010 Mini Gold 3-Aug Per 10 grms 38303.00 38303.00 37894.00 37894.00 - 38103.00 37894.00 -
26-Oct-2010 Mini Gold 4-Aug Per 10 grms 36250.00 38316.00 36250.00 37907.00 1 38116.00 37907.00 1
26-Oct-2010 Mini Gold 5-Aug Per 10 grms 38329.00 38329.00 37920.00 37920.00 - 38129.00 37920.00 -
26-Oct-2010 TT Gold 1-Sep Per Tola 44053.00 44053.00 43578.00 43578.00 - 43820.00 43578.00 -
26-Oct-2010 TT Gold 2-Sep Per Tola 43994.00 43994.00 43623.00 43623.00 - 43864.00 43623.00 -
26-Oct-2010 TT Gold 3-Sep Per Tola 43747.00 44009.00 43533.00 43533.00 2 43775.00 43533.00 2
26-Oct-2010 IRRI6W 28OC10 Per 100 kg 2402.00 2402.00 3302.00 3302.00 - 3303.00 3302.00 -
26-Oct-2010 Rice IRRI - 6 NO10 Per 100 kg 3324.00 3324.00 3323.00 3323.00 - 3324.00 3323.00 -
26-Oct-2010 RBD Palm Olein NO10 Per Maund 4533.00 4533.00 4491.00 4491.00 - 4533.00 4491.00 -
26-Oct-2010 KIBOR3M 10-Dec Per Rs. 100 86.74 86.74 86.73 86.73 - 86.74 86.73 -
26-Oct-2010 KIBOR3M 11-Mar Per Rs. 100 86.23 86.23 85.80 85.80 - 85.75 85.80 -
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Tokyo rubber
hits 2-yr highTOKYO: Key Tokyo rubberfutures rose to a two-year highon Tuesday, led by a surge inShanghai rubber futures to arecord peak, but later pared gainsas the yen's strength promptedsome profit-taking, traders said.
The key Tokyo CommodityExchange rubber contract forApril delivery, which debuted onTuesday, settled at 340.3 yen perkg, after rising as high as 343.3yen, the highest for any bench-mark contract since July 2008.
The most active Shanghairubber futures for May deliveryclosed on Tuesday at 32,660yuan ($4,906) per tonne, down0.9 per cent from the previousday's close of 32,955 yuan. TheMay contract hit a record highof 33,200 yuan earlier in theday. Trading volume more thandoubled from Monday at877,530 lots.
Indian rubber prices areexpected to snap a five-weekgaining streak this week as sup-plies are likely to improve afterthe weather turned favourablefor tapping, though a firm glob-al market is seen limiting thedownside. -Reuters
AHMEDABAD - INDIA: A worker gives a finish touch to a gold bangle at a shop in Ahmedabad. -Agencies
LONDON: Gold pared lossesin Europe on Tuesday as areport showed US consumerconfidence rose slightly inOctober, while the dollar wasbroadly firm.
Although US consumer con-fidence rose, it remained nearhistorically low levels as con-cerns about the labour marketpersisted, according to a pri-vate sector report released onTuesday. Investors are awaiting
clues from US on the prospect offurther monetary easing in theUnited States. The FederalReserve will discuss at a meetingin Washington next week whetherto extend its quantitative easingpolicy to accelerate growth. Thiscould have significant implica-tions for the dollar and inflation,and consequently gold.
Spot gold was bid at$1,335.17 an ounce at 1542GMT, against $1,338.00 late inNew York on Monday. US goldfutures for December deliveryeased $3.70 an ounce to$1,335.20.
Prices hit a record $1,387.10
an ounce earlier this month asthe dollar slid amid expectationsthe Fed would vote in favour ofQE at its upcoming policy meet-ing, but retreated as investorsworried the prospect had becometoo heavily priced in.
Gold's recent price dip hasattracted some physical interestback to the market in key gold-buying centres like India, theworld's biggest bullion con-sumer. Buyers there are stock-
ing up ahead of festivals, deal-ers said. Among other preciousmetals, palladium was at$613.38 an ounce against$606.20, not far from the nine-year high at $617.50 an ounceit hit on Monday.
The ratio of platinum to pal-ladium -- the number of ouncesof palladium needed to buy anounce of platinum -- fell to itslowest since mid-2004 in thatsession as palladium outpacedplatinum's gains.
Platinum was at $1,695.25 anounce versus $1,692.05, andsilver at $23.60 an ounceagainst $23.50. -Reuters
Gold dips on dollar,US consumer data
KUALA LUMPUR:
Malaysian palm oil futureseased on Tuesday on profittaking due to a firmer dollar,but losses were limited bystrong Chinese demand forsoybeans for crushing intovegetable oils.
The benchmark January2011 crude palm oil contractended 0.6 per cent lower at3,053 ringgit ($987.4). Theprevious day, the contractrose to its highest since July28, 2008. Traded volumestood at 14,988 lots of 25tonnes each.
Palm oil losses were cappedthanks to a little changed USsoybeans complex, as strongpurchases by China continueto underpin prices.
"Currently we're getting allsupport from the US soycomplex," said a trader in
Kuala Lumpur. "The marketneeds factors like very strongexport figures and fear oflower stocks to reach 3,100ringgit."
Malaysian palm oil couldrise to 3,194 ringgit per tonnebased on its wave pattern anda Fibonacci projection analy-sis, according to Reuterstechnical analyst Wang Tao.
US soyoil for Decemberdelivery fell 0.4 per cent inAsian trade and the mostactive September soyoil con-tract on China's Dalianexchange inched down.
"China's soyoil price hasbeen hovering at the upside,so it was undergoing a correc-tion after being overboughtyesterday," said Zhan ZhiHong, an oil analyst withShenzhen-based ChinaMerchant Futures. -Reuters
Malaysian palm oilretreats as dlr firms
NEW YORK: US cottonfutures settled up the dailylimit at an all-time high onMonday amid investment andspeculative buying, even assome players looked for earlysigns that the three-month rallymay be topping out.
The surge was ignited byanother overnight rally inChinese cotton prices and a fallin the US dollar to a 15-yearlow. The possibility of damagefrom storms in the major grow-ing state of Texas bolstered thebullish mood, analysts said.
ICE Futures US key Decembercotton contract gained for thefourth straight session, rising the5-cent limit to end at a new all-time record of $1.2471 per lb. It
was the second straight sessionthat US cotton prices finishedlimit up and marked cotton'sbiggest four-day rally sinceOctober 2003. The amount ofbusiness though was slow.Total volume tradedreached around 17,000lots, about one-quarterbelow the 30-day averageof 23,000 lots, ThomsonReuters preliminary datashowed.
The Zhengzhou CommodityExchange's benchmark fourth-month Chinese contract waslast traded at a lifetime top of26,270 yuan per tonne, up 5per cent from Friday.
"The cotton complex hasbeen supported by a continued
barrage of crop downgradesaround the world," said LukeMatthews, a commodity strate-gist at the CommonwealthBank of Australia.
Lawson said there seem tobe signs that the price of cot-ton was starting to run aheadof cash bids and "encroach-ing on the profit margins" ofend-users booking orders ofthe fibre, which meant theprocess of forming a topcould be underway in the cot-ton market. -Reuters
US cotton limits upto hit all-time high
Indian sugar
falls for 2nd dayMUMBAI: India's spot sugareased for the second straightday on Tuesday due to weakdemand, though an expectedrise in demand during the festi-val season restricted the down-side, dealers said.
In Kolhapur, a key market intop-producing Maharashtrastate, the most traded S-varietyedged 0.5 per cent lower to2,579 rupees ($58) per 100 kg.
"Diwali is just two weeksaway, but still demand is notimproving as per expectations.Still stockists are cautious,"said a dealer based in Kolhapur,Maharashtra.
Demand for sugar usually goesup ahead of Diwali, the Hindufestival of lights, which falls inthe first week of November.Fresh showers in India's keysugar producing states ofMaharashtra and Karnataka arelikely to delay cane crushing,industry and government offi-cials told Reuters. -Reuters
Coffee hits13-yr high,sugar eases
LONDON: ICE arabica coffeefutures prices hit a 13-year highon Tuesday as dealers notedfund interest boosted prices,while raw sugar was steady,underpinned by tight supplies.
ICE cocoa futures priceswere lower as dealers eyed alarge West African main crop.
Dealers said coffee marketswere supported by supply con-cerns in key producersColombia and Vietnam.
Robusta coffee pricesremained near their two-yearhigh of $1,910 a tonne, withJanuary up $14 or 0.8 per cent,at $1,877 a tonne at 1522 GMT.
However, talk thatColombia's crop has not recov-ered from two years of lower-than-expected production islikely also to fuel gains in ara-bica coffee, dealers said.
ICE December arabicafutures were up 1.2 cent or 0.6per cent at $2.0170 a lb, aftersetting a fresh 13-year high of$2.0460 a lb earlier in the ses-sion.
ICE raw sugar futures easedunder pressure from the firmdollar, consolidating near lastweek's nine-month high.
The 2010/11 centre-southBrazil cane crush is expected tobe 576 million tonnes, belowprevious forecasts of about 600million, and will probably endearly, senior analyst JulioMaria Borges said on Tuesday.
Borges said the physicalsugar market was tight, due tohigh sugar prices.
A European broker said: "Theproblem is that end-destinationrefineries haven't had a chanceto restock and are still runninghand to mouth."
ICE March raw sugar futureswere down 0.22 cent or 0.8 percent at 28.28 cents a lb, belowthe nine-month peak of 29.23cents a lb touched on October21. London December whitesugar was down $5.30 or 0.7per cent at $711.90 per tonne.
Cocoa prices were steady,after recent gains, whichpushed the market to a two-month high on Monday.
ICE December cocoa wasunchanged at $2,930 per tonne.Liffe second-month Marchcocoa was down 18 pounds or0.9 per cent at 1,975 pounds atonne in low volume of 1,361lots. -Reuters
BD teaweakens
DHAKA: The average price ofBangladeshi teas fell marginal-ly to 197 taka ($2.78) per kg atthe weekly auction on Tuesday,brokers said.
About 1.72 million kg weresold at the sale, leaving 4.37per cent of the offer to be car-ried back.
"Well made teas appreciated,but loose teas eased, resultingin a marginal fall of the averageprice," said an executive of theNational Brokers Limited, thelargest tea broking firm in thecountry.
Different grades were soldbetween 170 taka and 231 takaper kg in the auction. -Reuters
US cotton early-tradeICE Futures US key December cotton
contract gained 3.01 cents to trade at
$1.2772 per lb at 1347 GMT, having set
a new all-time record of $1.2945.
LONDON: Copper pricesflagged on Tuesday as the dol-lar rose, retreating from a 27-month peak hit earlier andtracking choppy currency trad-ing ahead of a key FederalReserve meeting next week.
Three-month copper on theLondon Metal Exchange closedat $8,511 a tonne from $8,518 atonne at the close on Monday.Earlier dollar weakness drovecopper to $8,554 a tonne, itshighest since July 2008.
"Metals have had a good runup in anticipation of these eas-ing measures and also becauseof the weaker dollar. But manyof them are quite overbought,"said analyst Ed Meir of MFGlobal. "It's getting to the pointwhere the markets will look fora headline to sell off," Meirsaid, adding that triggers maycome from the Federal Reservemeeting early next month.
"In the meantime they arestaying relatively steady."
US consumer confidencerose slightly in October butremained near historically lowlevels as concerns about thelabour market persisted.
Also, the Federal ReserveBank of Richmond's monthlycomposite manufacturingindex rose to 5 in October fromminus 2 in September.
Copper, in particular, looked
bullish from a fundamentalperspective, analysts said. In atightening market, copper
stocks last fell 900 tonnes to367,475 tonnes.
Chinese demand rose lastmonth, while JPMorgan's plansfor a 60,000 tonne copper-backed exchange-traded prod-uct also bolstered prices.
Also supporting copper, theunion at Chile's giantCollahuasi mine, the world'sNo. 3 copper deposit, said itwas calling on miners to votefor a strike after saying the lat-est wage offer failed to meetexpectations.
Zinc closed at $2,615 a tonnefrom Monday's close of $2,565a tonne and earlier hit$2,638.75 a tonne, its highestsince January. Lead was at$2,594 a tonne from $2,585.
Tin closed at $26,700 a tonnefrom $26,900 and nickel closedat $23,300 a tonne from $23,600.Aluminium closed at $2,390 atonne from $2,372. -Reuters
Copper eases from27-mth top, eyes Fed
Shanghai copper dipsBenchmark third-month
Shanghai copper dipped 90yuan to 64,520 yuan, but theChinese market's comparative-ly stronger performancehelped narrow the discount toLME to 1,600 yuan, downfrom 2,100 yuan last week.
Consumer confidence up in October-Conference Board
10Wednesday, October 27, 2010
Residents try to save a standed humpbackwhale on Geriba beach in Buzios
ICC not toinvestigate
SydneyTest: Lorgat
MELBOURNE: TheInternational Cricket Council(ICC) will not re-investigatethe Sydney Test betweenAustralia and Pakistan despitebeing confronted with reportsthat it knew of suspectedmatch fixer Mazhar Majeed's''activities'' during the game.
ICC chief executive HaroonLorgat said the governingbody did not have "sufficientevidence" to warn theAustralian authorities aboutMajeed's activities during theJanuary series.
Australia won the SydneyTest after Pakistan suffered adramatic collapse and commit-ted several fielding errors. In asting operation conducted by aBritish tabloid a some weeksago, Majeed was shown boast-ing that the match had beenfixed.
But Lorgat insisted that theICC will not launch a re-inves-tigation unless "credible evi-dence comes forward."
"We've kept it open, we con-cluded in the end it was a dys-functional team," he told'ABC' channel.
Asked whether the ICCshould have issued an advisorywhen it came to know ofMajeed's presence in Sydney,Lorgat said, "These are leadsthat we have to follow throughand be quite confident beforewe make allegations and it wasthe subject of an ongoinginvestigation and we weren't ina position to make any allega-tions."
"We were not satisfied of theextent of his activities and weneeded to be quite confidentbefore we leveled any accusa-tions," he said.-Online
UEFA probesEuro 2012
allegationsMILAN: UEFA has asked aCypriot official to provideproof of corruption related tothe decision to award Polandand Ukraine the Euro 2012championship, European soc-cer's governing body saidMonday.
Germany's respectedSuddeutsche Zeitung reportedthat Spyros Marangos had saidhe had evidence that certainUEFA representatives werecorrupted in the biddingprocess in 2007, when Italyand a joint Croatia andHungary bid missed out.
"In relation to this as yetunsubstantiated claim UEFAwishes to state that, as always,it can only open an investiga-tion on the basis of tangibleelements of proof," a UEFAstatement read.
"To date these have neverbeen provided to UEFA by thisindividual prior to any meetingand this in spite of repeatedrequests by Europe's govern-ing football body.
"UEFA has therefore today,via its legal counsel, againrequested the said individual tosubmit to UEFA any evidencethat according to him shouldconfirm his allegations, byWednesday 27 October at thelatest."
Bid processes for soccertournaments have recentlycome under scrutiny withworld governing body FIFAprovisionally suspending twomembers of its executive com-mittee on suspicion of sellingtheir votes to host the 2018 and2022 World Cups.
UEFA added that in its caselegal action would be consid-ered against the individual ifevidence was not forthcoming.
Marangos, who could not bereached for immediate com-ment, was not named inUEFA's statement.-Reuters
BERLIN: Paul, the oracleoctopus who shot to fame in theWorld Cup this summer for hisuncanny ability to predict theresults of Germany's footballmatches, has died at his homein Oberhausen at the age oftwo.
English-born Paul madeheadlines across the globe afterhe correctly forecast howGermany would fare in sevenmatches, before his psychicpowers were tested again forthe final.
After Germany's semi-finaldefeat, Paul tipped Spain tobeat the Netherlands in thefinal, which prompted one newsagency to report he had spurreda jump in demand for Spanish
government bonds. Paul's pre-diction duly came to pass:Spain won.
Staff at the Oberhausen SeaLife Centre in westernGermany said in a statementthey were "devastated" to learnof Paul's death when theyreturned to work on Tuesday.
"He appears to have passedaway peacefully during thenight, of natural causes, and weare consoled by the knowledgethat he enjoyed a good life,"said the centre's manager StefanPorwoll.
Before matches, two contain-ers of food were placed in theeight-legged creature's tank,each one bearing the flag of oneof the teams about to compete
for their chance to becomeworld champions. The contain-er Paul picked first was seen ashis pick.
Following the World Cup, aSpanish zoo made a transfer bidfor Paul but his German keepersrefused to sell.
Paul will be kept in cold stor-age until the centre decides howto mark the mollusc's extraordi-nary life, Porwoll added.
"We may decide to give Paulhis own small burial plot withinour grounds and erect a modestpermanent shrine," he said.
Paul, who was hatched inWeymouth, England, may yetcontinue to dazzle the worldwith predictions from beyondthe grave.
A Russian newspaper said inJuly it had got Paul to predictwho would be Russia's nextpresident -- but that the resultswould be kept secret until theelection year of 2012.
Sea Life said Paul would liveon as the object of a host ofcommercial enterprises rangingfrom special clothing lines tomobile phone applicationsinspired by his fame inOberhausen, one of Germany'smost cash-strapped cities.
Meanwhile, donations madein honour of Paul's achieve-ments would help to fund aplanned permanent rescue cen-tre for sea turtles on the Greekisland of Zakynthos, Sea Lifesaid.-Reuters
Predictions no more
Oracle octopus dies in Germany
LONDON: Blackburn Rovershope the sale of the club toIndian conglomerate Venkyswill be completed inNovember, the Premier Leagueclub said in a statement onTuesday.
"A series of meetings, includ-ing discussions with thePremier League, have followedan extensive due diligenceprocess. Both parties are hope-ful that the transaction will becompleted in November,"Rovers' chairman JohnWilliams said in a statement onthe club's website.
Venkys' chief Anuradha JDesai added; "We expect to bethe first Indian company toacquire a Premier League teamand we are particularly delight-ed that the team is BlackburnRovers, with whom we believewe have many shared valuesand ambitions."
The V.H Group, of whichVenkateshwara Hatcheries PLtd is the flagship company,specialises in poultry farmingand claims to be the "largestfully integrated poultry groupin Asia".
Its diversified businessesinterests include food process-ing, animal healthcare andpharmaceuticals.
Its website said its valuationwas $300 million, while Indianmedia reported the company
are likely to pay 40 millionpounds ($63.51 million) forRovers if the deal materialises.
When contacted by Reuterson Tuesday, a companyspokesman said they would bereleasing a statement later inthe day."
Blackburn, managed by SamAllardyce, are fourth from bot-tom in the league -- one placeabove the relegation zone --with nine points from as manygames.
Last week Allardyce hadbacked new investment for thethe 1995 Premier Leaguechampions, who were put upfor sale by the Jack WalkerTrust three years ago.
"The club has been up forsale for some time and newinvestment would be most wel-come," Allardyce said onFriday.
"It would seem that thingsare progressing and maybe weare getting closer to a deci-sion."
In September, investmentcompany Western GulfAdvisory (WGA) said that theywere conducting due diligenceon Rovers. A WGA spokesper-son told Reuters in an email onTuesday they were still inter-ested in purchasing the club but"did not wish to comment onthe current developments".-Reuters
Indian firm tobuy EPL club
Monitoring Desk
KARACHI: Indian cricketcaptain Mahendra SinghDhoni on Tuesday once againrubbished news reports ofSuresh Raina being linkedwith an associate of a bookieand termed it as "baseless andfalse," and termed it as a con-spiracy against BCCI.
"The reports that Raina wasspotted with a woman, havinglinks with bookie and that hemight be linked with matchfixing, are baseless andfalse," said the Indian skip-per, who had earlier alsodenied the charges.
"Raina is a good player andhe can never indulge in suchactivities. Sri Lankan CricketBoard, BCCI, ICC and ICCCorruption Committee haveinvestigated the matter andcould not found any proofagainst Raina," Dhoni, toldreporters.
It was reported that Rainawas seen with a lady, who is a
close associate of a knownbookmaker, at a Sri Lankanhotel and the footages wererecorded on the CCTV of thehotel.
Dhoni also said the allega-tions that the BCCI deliber-ately turned deaf ears inRaina's case, had nothing todo with reality.
Meanwhile, the captain,who led India to both Test aswell as one-day series victo-ries against Australia recent-ly, termed his team as a bal-anced side but admitted thatthe bowling needs toimprove.
"There are good batsmen inthe team, who have a lot ofenergy and enthusiasm. Newplayers are also coming intothe team and are continuouslyimproving their game," hesaid.
"However, some improve-ment is needed in the bowlingdepartment as it is always anarea of concern for us," Dhoniadded.
Dhoni slamsallegations
against Raina LONDON: David Beckhamplans to see out the final yearof his Los Angeles Galaxycontract and still believes hehas an England futureat the age of 35.
In a interviewshown on television,the midfielder addedthat he would not haveany more loan dealsafter two spells at ACMilan, where an ankleinjury in the secondstint forced him out ofthe reckoning for aplace at the WorldCup in June.
Beckham's Galaxycontract runs out nextyear and althoughthere is the optionnext month of buyingout the final 12months of his deal, hesaid he was content to stayuntil 2011.
"I'm definitely going to behere (in Los Angeles) for therest of my contract," the for-mer Manchester United play-er said. "My sons go toschool here, we're all happy
living here, so I can't see usmoving."
Turning to his Englandprospects, he underlined that
he had no plans to call timeon his 115-cap internationalcareer despite manager FabioCapello suggesting after theWorld Cup that he was tooold to play for his country.
"Of course I would alwayslove to be available for my
country. Everyone knowshow passionate I have beenfor my country over theyears so I would love to con-
tinue to play."Whether I do or
not, that is obvious-ly down to the man-ager and obviouslydown to myself toperform.
"The future is forthe young players aswe have to thinkabout the (2012)Euros but no oneplayer is out."
Beckham, who leftReal Madrid forGalaxy in 2007,scored for the LAclub in the 2-1 winover FC Dallas onSunday that earnedthem their second
successive WesternConference and theSupporters' Shield for MLS'stop point-scoring team.
They now begin their play-off campaign against SeattleSounders on Sunday.-Reuters
Beckham to stayat Galaxy
Tauseef Mallick
KARACHI: There was theall old predictable monoto-ny about the Pakistaninnings. The openers didn'tlast long, middle order col-lapsed, batsmen looked in ahurry, icons failed to satisfy,this is how you may definePakistan's innings againstProteas in their first t20match.
Pakistan managed to score119 runs losing all theirwickets. Umar Akmal flat-tered to deceive, ShahidAfridi unfurled a couple ofviolent hits to threaten arevival, Misbah-ul-Haq bat-ted slowly and the lowerorder collapsed.
Barring couple of poorovers from the Morkelbrothers at the start - Albiestruggled with wides andMorne struggled with noballs - South Africa didnearly everything right.They kept it tight on a lineand length and waited forPakistan to implode. Theopeners set the tone for theinnings: Imran Farhat fell toan ugly slog, edging to slip,and Shahzaib Hasan fell to a
good tumbling catch fromJP Duminy running backfrom point after scooping anintended big hit.
Johan Botha came on afterthe Powerplays to stranglePakistan with a triple-strike.Two of them came easily:Mohammad Hafeez carved
one straight to deep pointand Abdul Razzaq, whostruggled in his brief stay,played down the wrong lineand lost his off stump. Afridicounterattacked in his inim-itable style with a breezy 25from just seven balls. Hemuscled Botha for three
sixes over long-on but felltrying yet another big hit.
With Misbah struggling tofind his timing, Pakistanwere struggling to reach 100but Albie and Rusty Theronslipped in a few full tossesthat Misbah took toll of topush Pakistan to 119.
The old trendfollowed in UAE
Paul the so-called "octopus oracle" predicts Spain's victoryin their World Cup semi-final against Germany at the Sea
Life Aquarium in Oberhausen
It's conspiracy against BCCI Still willing to play for England
Venkys set to take overBlackburn Rovers
Cash rewardfor CWGboxing
medallistsLAHORE: Pakistan SportsBoard (PSB) has announcedcash rewards for those two box-ers who won bronze medals inrecently concludedCommonwealth Games in NewDelhi India.
Director General of PSBSyed Amir Hamza Gilani onTuesday informed the PakistanBoxing Federation (PBF) thatbronze medal winnersMuhammad Waseem andHaroon Iqbal Khan each willreceive a cash prize ofRs200,000.
Six Pakistani boxers partici-pated in CommonwealthGames and three of themmoved to the quarter finals andtwo made their way to the semifinals and secured bronzemedals.
Meanwhile President, PBF,Doda Khan Bhutto has wel-comed PSB announcement andsaid such support will go a longway in the further developmentof boxing.
"We are confident that ourboxers will put up good per-formance in next months AsianGames in China", he said.-APP
South Africa's Duminy takes a catch to dismiss Pakistan's Hasan during their firstTwenty20 international cricket match in Abu Dhabi
Pak manages 119 runs; Tsotsobe takes 4 wkts
11Wednesday, October 27, 2010
International & ContinuationAir cargogrowth
slowdownsuggests
global econcooling
ZURICH: International aircargo traffic grew at a slowerannual pace in September, in afresh sign that the global econ-omy is cooling, theInternational Air TransportAssociation (IATA) said onTuesday.
The trend in freight traffic -- agood indicator for global tradeand economic activity -- wasweaker than expected and vol-umes were now 6 per centbelow the post-crisis peak hit inMay, IATA said.-Reuters
CFTCunveils newtools to stop
marketmanipulationWASHINGTON: The USfutures regulator laid out plans onTuesday for how it could use newand beefed-up legal tools to foiltraders who seek to manipulateprices or defraud investors.
The Commodity FuturesTrading Commission said it alsowants to ask for comments onwhether to crack down on certainpractices used by high-frequencytraders -- such as "quote-stuffing"-- but it stopped short of immedi-ately proposing new rules specifi-cally aimed at algorithmic trading.
In its latest set of proposed reg-ulations following a sprawlingWall Street reform law, the CFTCsought to clear up some confu-sion about its traditional test forprice manipulation, an effort toimprove on its dismal record ofhaving won only one such case inits 36-year history.-Reuters
NEW YORK: Data onTuesday showed the US eco-nomic recovery is still frag-ile, with consumer confi-dence remaining weak andhome prices falling againafter gaining earlier in theyear.
The reports reinforced thebelief that the US FederalReserve will embark onanother round of monetarypolicy stimulus to support theeconomic recovery next
week.US consumer confidence
rose slightly in October butremained near historicallylow levels as concerns aboutthe labor market persisted.
The Conference Board, anindustry group, said its indexof consumer attitudes rose to50.2 in October from arevised 48.6 in September.
The US unemployment rateremains stubbornly high at9.6 per cent, according to the
Labor Department.The Federal Reserve, which
has already injected $1.7 tril-lion into the economy by pur-chasing mortgage-related andgovernment bonds, nextmeets on Nov. 2-3. Anotherround of quantitative easing,dubbed 'QE2', is expected tofocus on Treasury debt.
The weak labor market isone of the primary reasonswhy the housing marketremains weak.-Reuters
US consumerconfidence, home
prices remain weak
LONDON, Oct 26 (Reuters) -Britain's economy grew twiceas fast as expected in the thirdquarter and ratings agencyStandard and Poor's lifted thethreat of a credit downgrade, aboost for a government underfire over steep spending cuts.
But the risk of a sharp slow-down in the first half of 2011remains, with strong headwindslikely to come from tax rises, apatchy recovery in Britain'smain trading partners and cutswhich may cost half a millionjobs in the public sector.
The Office for NationalStatistics said Britain's econo-my grew 0.8 per cent betweenJuly and September, down froma nine-year high of 1.2 per centin the second quarter but twicethe 0.4 per cent most econo-mists had expected.
Sterling jumped and gilts hita one-month low as investorsreckoned the combination ofabove-trend growth and above-target inflation meant the Bankof England would struggle tojustify an expansion of its"quantitative easing" to supportthe economy.
Speculation Britain's centralbank might pump more moneyinto the economy gathered pacethis month after one policy-maker, Adam Posen, brokeranks to vote for additional eas-ing. However, AndrewSentance, the committee's mosthawkish member, lost no timein reiterating his belief thatinterest rates should now startto rise -- albeit gradually.
Economists said the data waslikely to make the BoE keeppolicy unchanged for longer.
"For the Bank of England, theGDP strength probably min-imises for the time being therisk of others joining AdamPosen in voting for anotherround of QE," said GeorgeBuckley at Deutsche Bank.
GOVERNMENT PLEASEDIn annual terms, Britain's
economy grew by 2.8 per centin the third quarter, the fastestrate in three years and up from1.7 per cent in the previousquarter. The BoE had forecastgrowth of around 2.4 per centin August.
Less than two hours after thedata, ratings agency S&P raisedthe outlook on Britain's triple-A rating to "stable" from "neg-ative", citing the government'scommitment to see through itsambitious austerity pro-gramme.-Reuters
Britain’s Q3 GDPbeats forecastsbut risks ahead
we cannot afford to drop our guard," he added.According to him, the security situation in the AfPak region
continues to be a cause for concern. "Despite the physical andmaterial costs India has at all times, advocated peace and stabili-ty with all nations including our neighbours," he said.
"The volatile political situation in our immediate neighborhoodhas the potential of having a debilitating impact on the region.
India's role in preserving peace and stability thus, becomes allthe more important," he said. The MoD had introduced changesin the defence procurement procedure "to increase private par-ticipation", and he was "confident that the changes in our pro-curement procedures will help in realising the full potential ofpublic private partnership and leverage the advantages in thefields of R & D and manufacturing". -Online
Continued from page 12No #1
during the crack down, which police started after the bomb blast atBaba Farid shrine. On the other hand Arifwala and Pakpattan policearrested several suspicious persons during the crack down. -Online
Continued from page 12No #2
According to diplomatic sources, US embassy officials briefedthe new US ambassador and apprised him of various projects tobe launched in Pakistan with the cooperation of US.
Earlier talking to a private TV channel Munter said he is com-ing to Pakistan with open mind. Ambassador Cameron Muntersaid the rehabilitation of flood victims, terrorism and the politicalsituation are big challenges faced by Pakistan. Cameron Munter isthe first US Ambassador in 10 years who will arrive with his wifein Pakistan, who is a retired diplomat. On a question about anti-American sentiments in Pakistan Ambassador Munter said, "Wehave to see the reasons behind these sentiments to bring the peo-ple of the two nations close to each other." He said he will play hisrole to bring the people close to each other. He said he will listento what the people of Pakistan talk so as to transfer the people'ssentiments in a better way to Washington. -Online
Continued from page 12No #3
of last year. Profit before taxation for the quarter increased by18.3 per cent to Rs24.13 billion mainly due to and favorablefinancial impact of Rs2.78 billion on account of gas price revisionin respect of Bobi field.Other income included interest on invest-ments and bank deposits and exchange gains which decreased by24 per cent to Rs 607 million as compared to last year same peri-od of Rs 799 million. -Agencies
Continued from page 12No #4
24 hours and after that he is handed over to police and then thematter is forwarded to foreign ministry.
He said that he had said to BSF to hand over those Pakistaniswho accidentally crossed the border while the same issue wouldbe raised in recent dialogue. The 19-member delegation of BSFheaded by Inspector General BSF Sri Raman reached in Lahore.
Talking to media Inspector General BSF Sri Raman said "Wecome here with an open-mind and try to bring improvement in tiesbetween both the countries." Meanwhile, five-day meetingamongst border security forces has started in Lahore during whichissues related to border fencing and transfer of prisoners wouldcome under discussion. -Online
Continued from page 12No #5
facilitate greater investment flows for the Islamic financial serv-ices industry. The IILM will issue high quality Shariah-compliantfinancial instruments at both the national level and across borders,in an integrated manner, thereby enhancing the soundness and sta-bility of the jurisdictions in which they operate.
The signatories of the IILM Articles of Agreement are gover-nors and their representatives from the central banks or monetaryagencies of Indonesia , Iran , Luxembourg , Malaysia , Mauritius, Nigeria , Qatar , Saudi Arabia , Sudan , Turkey and the UnitedArab Emirates . The Islamic Development Bank and the IslamicCorporation for the Development of the Private Sector are the
Continued from page 12No #6
11,000 villagers living on the volcano's slopes, after the alertstatus was raised to the highest level. Adi Mulyanto, an emer-gency ward doctor at the Panti Nugroho Hospital in Sleman, toldReuters that at least six people had been badly burned by hot airbursting out of the volcano. -Agencies
Continued from page 12No #7
CONTINUATION
Top lender State Bank of India shed 1.8 per cent, while rivalsICICI Bank and HDFC Bank dropped 0.9 per cent and 0.6 percent respectively. Telecom stocks fell after Idea Cellular, the No.6 mobile phone operator, lagged market estimates as quarterlyprofit fell on lower call prices, triggering concerns other playersmay follow suit. Idea shed nearly 3 per cent while leading telecomoperators Bharti Airtel and Reliance Communications lost 2.4 percent and 1.7 per cent respectively. Reliance Industries gained 0.6per cent after the Economic Times reported the company aimed toreach peak gas output of 80 million standard cubic metres per dayat its KG D6 block off the country's east coast in about 12 months.
ITC climbed 1.3 per cent, riding on the robust domestic consump-tion story in Asia's third-largest economy. Maruti Suzuki rallied 3.6per cent in an attempt to catch up with the broader market rally. Thestock has been a laggard, rising only 0.2 per cent year-to-date, onworries about pressure on profit margins. Non-ferrous metals pro-ducer Sterlite Industries dropped 0.1 per cent after it reported aslightly lower-than-expected 5 per cent rise in September quarternet profit. Amongst world's broader indexes, the MSCI world equi-ty index dropped 0.2 per cent by 1016 GMT, MSCI's emerging mar-ket stock benchmark was barely changed. -Reuters
Continued from page 5No #8
margins, operating result and profit after tax for the quarter were31 per cent and 22 per cent higher respectively compared with thesame period last year.
Continued from page 5No #11
Bank's net income rose to Rs4.55 billion -- earning per share ofRs5.99 a share from Rs4.05 billion a year earlier. According todetails revenue of the bank climbed to Rs15.4 billion from Rs13.5billion for the period under review. MCB Bank's interest incomerose 12 per cent to Rs13.8 billion in the third quarter, while itsinterest expense rose 19 per cent during the three months.
Continued from page 5No #12
Bank's profit after tax grew by 52 per cent to Rs995 million forthe nine months period ended September 30, 2010 as compared toRs654 million in the corresponding period last year.
During the period under review its earnings per share (EPS) alsoincreased to Rs1.42 Rs against Rs1.07 in the same period lastyear. Meezan Bank's total assets crossed Rs143 billion during theperiod under review. This growth has been spurred by the increasein the its branch network as a result of which deposits increasedfrom Rs100 billion in December 2009 to Rs119 billion inSeptember 2010, an increase of 19 per cent.
Continued from page 5No #9
During the period under-review Company's profit after tax ran upto Rs2.03 billion as compared to Rs1.33 billion over the correspon-ding period last year. This translates into an earning per share ofRs2.31 as against Rs1.52 during the same period last year. Themajor reason for increase in earning was depreciation of Pak rupeeas revenues were indexed to the USD. In addition to that, lowerrepair/ maintenance cost during the period also supported growth.Sales revenue for the period being discussed dropped 20.3 per centto Rs16.2 billion from Rs20.32 billion previously --chiefly owing tolower load factor. Cost of sales also fell down by 27.3 per cent toRs12.89 billion. Company's 1QFY11 gross profit went up by 27.3per cent to Rs3.31 billion against Rs2.59 billion in 1QFY10.Moreover, other operating income saw a robust surge by 140 percent at Rs1.93 billion in the period under review. Similarly, financialcost increased by 64.1 per cent to Rs2.01 billion.
Continued from page 5No #10
media reports speculating that the electronics maker could be a potential acquisition target ofApple Inc. The stock later lost steam and ended up 0.7 per cent at 2,742 yen. "Investors could startbuying on dips if the Bank of Japan can come up with further measures to bolster the economy or ifthe market can be convinced that the yen's firmness will be limited around 80 (against the dollar),"said Ryosuke Okazaki, chief investment officer at ITC Investment Partners.The BOJ is scheduled tohold a policy meeting on Thursday following surprise credit easing measures earlier this monthwhen it pledged to pump more liquidity to keep interest rates virtually at zero.-Reuters
Continued from page 5No #13
top-line growth as an indicator of economic activity. US Steel Corp, AK Steel Holdings Corp andArcelorMittal, the world's No. 1 steelmaker all sold off after reporting results. Both US Steel andArcelorMittal also forecast a soft patch extending to the end of the year.
On the upside, Ford Motor Co rose 1.6 per cent to $14.37 and touched a six-month high after quar-terly profit topped estimates and it paid down a big chunk of debt. Broadly, equities continued totake their cue from the US dollar, which steadied with the dollar index up 0.6 per cent. Stocks andthe greenback have formed an inverse relationship, exacerbated by expectations the US FederalReserve will embark on another round of economic stimulus.-Reuters
Continued from page 5No #14
Banks were out of favour after UBS's results and as uncertainty on the global economic outlookkept optimism on more cyclical equities in check. Barclays and Royal Bank of Scotland both fell 1.4per cent. "(The FTSE) is pretty weak... the UBS figures have caused a lot of pressure, which has per-meated (the wider market)," Joe Rundle, head of trading at ETX Capital, said. Miners, whichnotched up good gains in the previous session, took the most points off the index. BHP Billiton,down 2.5 per cent, was the biggest laggard in the sector.Insurers fell, hurt by a note from BofAMerrill Lynch which downgraded the sector on valuation grounds after a strong run over the pastfew months. Prudential lost 1.7 per cent."The market has had a good run since late August and itappears to be on an upward, sawtooth trend. It seems this is one of those days where investors arebooking profits after gains," Peter Dixon, economist at Commerzbank, said.-Reuters
Continued from page 5No #15
"Nawaz League is our allied party. Hue and cry is being raised over Watan Card. I had given thefirst Watan card to Shahbaz Sharif", he held. Decision would be taken on construction of Kalabaghdam with the consensus of all the provinces, he maintained. Politics was played with the issue ofKalabagh dam and no real interest was shown, he added.
Continued from page 1No #17
of 12 meters of the channel at the moment, 75000 tones vessels cannot reach this new terminal.He directed dredging of the channel to 14 meters on a war-footing so that larger vessels can reach
the berth at the terminal in coming months. Referring to the proposals by Minister for Ports andShipping, Prime Minister said he has already given instructions to National Highways Authority tobuild Rattodero-Gwadar road. He also asked the Trade Development Authority of Pakistan to routedry agriculture cargo through new terminal. Prime Minister also told the audience that theGovernment was pursuing the politics of reconciliation to promote political stability, which was pre-requisite for economic stability. Earlier, Prime Minister Gilani on his arrival at Chief Minister heldmeeting with Chief Minister Sindh Syed Qaim Ali Shah.
He discussed issues pertaining to law & order in the province, post-flood measures adopted for reha-bilitation and reconstruction of flood affected areas and people. Prime Minister stressed the need tohave constant vigilance of activities of criminals and anti-social elements, while such elements becurbed with iron hand without any consideration or favoritism.
Continued from page 1No #18
not able to keep pace but we are trying to tap new potential areas to meet our needs."He said the Ministry is continuously working on finding new potential areas as even Khyber-
Pakhtunkhwa is also producing the gas. Replying to a question, Naveed Qamar said every blockwhich is awarded starts production after around seven years. Regarding gas load-shedding in win-ter, he said Economic Coordination Committee (ECC) would decide the mechanism and the num-ber of days for load-shedding.-Agencies
Continued from page 1No #19
Business Community, they are upbeat to get the most of this initiative and are trying their best tocreate awareness through the biggest and powerful business index in the world.
Pakistani businessmen are of the view that their purpose is not only to raise substantial funds byinvolving some major political and showbiz affluents like George Clooney, but also to portray theright picture of the flood-devastations, which was being distorted due to lack of trust and confidencein the PPP government.
Pakistani traders expect that this event, which is about to take place on October 29, would be cov-ered by nearly every major network here and which would expand the horizon and outreach of thecampaign, because opening and closing bell events at Nasdaq are given live coverage by some majortelevision networks here including CNBC, Bloomberg, BBC and other financial networks.
They informed that Nasdaq is moved by their initiative and they also want to put their share in thishumanitarian effort.
The modus operandi of the program would include three one-minute speeches by Najeeb Ghauriof NetSol, Nancy Aossey, CEO/IMC, and Jay Collins, Chairman USPBC or Stephen Jordan SeniorExecutive of US Chamber of Commerce.
This process would run like a movie-script and would mostly be structured by Nasdaq. Throughoutthe program there will be images and pictures of victims and details of IMC and USPBC logos andtheir appeals.
Afterwards, press statements by NetSol, and Nasdaq internal public relations department would bereleased to its over four-thousand listed companies, US Chamber of Commerce, and other US gov-ernment and business communities.
It is relevant to recall here that few months back some Pakistani diplomats spoiled the opportuni-ty given by NYSE so that Pakistani Consulate could extend their appeal for donations, but insteadthey resorted to self-projection. Some members of Pakistani consulate managed to run their ownphotos with Pakistani flags in the background, and one slide even mention that "Welcome to NewYork from Consulate General of Pakistan, R S A Babar Hashmi." Resultantly, they failed to collectany considerable amount of fund for the flood affectees.
Continued from page 1No #20
across-the-board corruption and during the fiscal year 2009-10 FDIs dropped to $2.21 billion from$3.71 billion in fiscal year 2008-09", TI Pakistan head said. Gilani further elaborated that in order tocurb the corruption government needs to ensure the rule of law, merit-based appointments and easyaccess to justiceAccording to the report Denmark, New Zealand and Singapore maintained their topposition on the list with scores of 9.3. They were followed by Finland, Sweden, Canada and theNetherlands while Afghanistan, Myanmar and Somalia came last with scores as low as 1.1.The USranked 22nd on the list, down from 19th last year, with a score of 7.1 out of 10, compared with 7.5 in2009, the Berlin-based corruption watchdog group showed in its Corruption Perceptions Index report.
Continued from page 1No #22
Qureshi would inform to cabinet about recent Pak-America Strategic dialogues. Cabinet will alsogive approval to different projects with foreign countries and five ministries transfer to provincesunder the rule of 18th amendment.
Continued from page 1No #23
Hamoud, the executed dictator's secretary. All three were sentenced for their role in a crackdownon Shiites, which followed a 1982 assassination attempt against Saddam in Dujail, a mainly Shiitetown north of Baghdad, the court's spokesman Mohammed Abdul Saheb said. "The order was forthe crackdown on religious parties which took place in the 1980s," Abdul Saheb told foreign media.
By law, the death sentences have to be confirmed by the presidential council before being carriedout. Aziz's Jordan-based son Ziad told that the death sentence against his father proved the revela-tions made about the Iraqi State by the whistleblower website WikiLeaks. Of the three former topofficials sentenced to death on Tuesday, the urbane Aziz was by far the most prominent figure. In2009, he was jailed for 15 years for the 1992 execution of 42 Baghdad wholesalers and separatelygiven a seven-year term for his role in expelling Kurds from Iraq's north. He pleaded not guilty onall counts. -Reuters
Continued from page 1No #24
expressed appreciation for Pakistan's accomplishments in numerous fields. PresidentObama invited President Zardari to visit the US President Zardari thanking President Obamafor the invitation said he was also looking forward to the visit of President Obama in the earlypart of 2011 to Pakistan. President Zardari thanked President Obama for the strong expres-sion of support for Pakistan, the democratic forces and progress and prosperity of thePakistani people. -APP
Continued from page 1No #25
multilateral organisations participating in the initiative.
The notice also revealed that bank's provisions against defaults fell to Rs9.75 million in the thirdquarter from Rs1.13 billion a year ago. Net income in the nine months ended Sept. 30 rose to Rs12.5billion, or Rs16.44 a share, from Rs11.8 billion, or Rs15.53, a year earlier. Revenue rose to Rs44.8billion from Rs42.2 billion previously.
include Oil & gas Development Co, Nishat Mills, MCB Bank, ICI Pakistan, and Lotte Pakistan.Offshore investors however ended the day with a net-buying of $1.55 million. On the local side,
banks and NBFCs did a net-selling of $1.38 million and $1.12 million, while individuals net-boughtequities worth $1.52 million. Lotte Pakistan was the volume leader with 20.9 million shares fol-lowed by Azgard Nine with 15.8 million shares, Lafarge Pakistan with 9.1 million shares, NishatMills with 8.2 million shares and United Bank with 6.6 million shares. Out of total 403 active issues242 declined and 148 advanced while 13 issues remained unchanged.
Continued from page 5No #16
from previous 7.5 per cent to 3 per cent", said Furqan Punjani, analyst at Topline Securities.On this account gross margins also reduced by 12 per cent to Rs1.43 billion compared to Rs1.62
billion in same period last year.
Continued from page 5No #26
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ISLAMABAD: Chief Minister Balochistan Nawab Muhammad Aslam Raisani called on President Asif Ali Zardari at Aiwan-e-Sadr here on Tuesday. -APP
ISLAMABAD: Foreignoffice spokesperson AbdulBasit has said talks withIndia are futile until it isready to discuss outstand-ing issues like Kashmirand water disputes.
Talking to a private TVchannel, Basit said India isnot ready to discuss issuesregarding Kashmir orwater dispute, althoughother matters are open fordiscussion, but if the basicproblem of Kashmir issueis not resolved there is nopoint in having dialogueson any other issue.
He said drone attacks inPakistan have played anegative role and it isagainst our self respect
and sovereignty, added webelieve in the policy ofconsensus, Pakistan hasalways stressed on solvingissues through dialogue.
He also said that Pak-American strategic dia-logue is a historical actand before this both coun-tries had a rocky relation-ship, after the nuclear testsanctions were imposedon us, the reason for whichwas lack of trust but nowthings are looking up andboth the nations are goingtowards better relations.
He added that it is notpossible to achieve all thetargets in just one day, itneeds time, and strategicdialogue is a positive step
towards this.He said that after Obama
administration came theyfelt the need for betterterms with Pakistan, healso mentioned that therehas been three stages ofstrategic dialogue betweenboth the countries andnow America is providingassistance in the fields ofenergy, science, educationand technology and all thisis a result of positive for-eign policy.
Spokesperson said thatthe relations of Pakistanand China have becomeeven better and China is avery close friend.
He also said if peace isto be achieved in South
Asia the relations betweenIndia and Pakistan has tobe improved and this isonly possible with theKashmir issue beingresolved and Pakistan can-not compromise on coreissues.
He also said thatPakistan has highlightedthe rehabilitation floodaffectees and America isplaying its role and fromthe 14 to 15th ofNovember the meeting ofPakistan developmentforum will be held inwhich the problems facedby the flood affectees willbe addressed in front ofthe world community. -Online
Pakistan wants coreissues on table: FO
NEW DELHI: Pakistan should shed itsambivalence on terrorism, defence min-ister A K Antony said while addressingthe top brass of the Indian Army.
"Pakistan does not appear to be willingto leave its India-centric posturing. Itwill have to shed its ambivalence in deal-ing with terror groups. Though we arenot unduly concerned, we will have tokeep constant vigil on the developmentsin Pakistan," Antony said at the Armycommanders conference, reported theTimes of India.
The five-day conference, to be attend-ed by senior Army generals, will review
the security scenario, operational andadministrative preparedness and look atimproving the Army's performance.
It will also focus on training, and itseffectiveness based on state-of-the-arttechnology. Fighting terrorism costs thenation substantially, Antony said, whilereiterating that India would crush terror-ism "with all our might".
"The Army has been quite successfulin countering the proxy war and in min-imising the incidents of terror," he said."Still, as long as the terror infrastructureacross the border continues to flourish,
See # 1 Page 11
Delhi asks Isb tochange mindset
Pak should have a clear stance on terrorism: AntonyPolice collar
several suspects
PAKPATTAN: After thebomb blast at Baba FareedShrine in which six peoplewere killed, a large number ofactivists of banned religiousorganisations have been arrest-ed from the Pakpattan andSahiwal.
Talking to media DeputySuperintendent Police (DSP)Sahiwal Arif Dogar informedthat police arrested the sevenoffice-bearers of severalbanned religious organisations
See # 2 Page 11
ISLAMABAD: President Asif AliZardari has said that government isnot oblivious to the problems ofBalochistan and we would do every-thing possible to bring this provinceto the par of other provinces.
According to PresidentSpokesman, Chief MinisterBalochistan Nawab MuhammadAslam Raisani Monday called onPresident Asif Ali Zardari at Aiwan-e-Sadr.
Matters relating to law and order,political situation, developmentalprojects in the province and meas-ures taken for rehabilitation andreconstruction of the flood affecteeswere discussed during the meeting.
Mir Mohammad Asim Kurd Gello,Finance Minister Balochistan, wasalso present during the meeting.
According to sources, Presidenttold Balochistan CM that govern-ment is committed to uplift of
Balochistan and it would be broughtin par to the other provinces.
Sources told President said theimportance of Balochistan and rightsof Baloch people cannot be ignoredby a democratic government.
Chief Minister Balochistan con-veyed his concerns over targetkilling incidents in Quetta and non-
implementation of Aghaz-e-Huqooq-e-Balochistan Package,sources said.
President said that the Aghaz-e-Huqooq-e-Balochistan package hasbeen designed to remove the senseof deprivations of the Balochi peo-ple and this package would beimplemented soon.
Full-scale supportfor B’stan vowed
CM Raisani calls on President Zardari
ISLAMABAD: US SpecialRepresentative for Afghanistan andPakistan Richard HolbrookeTuesday telephoned President AsifAli Zardari and discussed mattersrelating to the recently held Pak-USStrategic Dialogue.
They also discussed struggleagainst militancy and extremism,regional security situation, reim-bursements of Coalition SupportFund arrears and reconstruction.
Rehabilitation efforts for theflood affected people also cameunder discussion.
Earlier, the new designated USambassador to Pakistan CameronMunter arrived here on Tuesday.
According to US embassyspokesman Cameron Munterwould assume the responsibilitiesof former US ambassador to coun-try Anne W Patterson.
See # 3 Page 11
Kashmir stated as
a hurdle inIndo-Pak ties
LAHORE: Major GeneralMuhammad Yaqoob, DirectorGeneral Pak Rangers said Pak-Indiaties could not be improved until set-tlement of outstanding issuesbetween the two countries especial-ly Kashmir issue.
Major General MuhammadYaqoob expressed these viewswhile talking to media before five-day dialogue between BSF and PakRangers.
He said that he would ask Indiandelegation to release innocentPakistanis imprisoned in India.
He said that all outstanding issuesincluding border-crossing, smug-gling, violation of cease-fire wouldcome under discussion during thedialogue. He said that two rounds ofdebates were held between the forcesof both the countries, which wereproving successful to some extent.
Answering to question he repliedthat during dialogue issue of releas-ing Pakistanis imprisoned in Indiawould be raised.
He said that if any person acciden-tally crosses the border then borderforces keep him in custody only for
See # 5 Page 11
Pak Rangers, BSF 5-daydialogue begins
Ghulam Raza Rajani
KARACHI: The profit of Oil andGas Development CompanyLimited's (OGDCL) -- largest petro-leum exploration and productioncompany -- surged by 38.5 per centin 1QFY11.
The result is near to "The FinancialDaily" expectation as we have fore-casted PAT of Rs16.12 billion andEPS of 3.73 which accounted for 3.7per cent variation due to lower effec-tive taxation of 31 per cent againstTFD estimates of 33 per cent.
Profit after taxation for the firstquarter ended September 30, 2010was Rs16.71 billion against Rs12.06billion during same period last yearresulting in earnings per share (EPS)of Rs3.89 in 1QFY11 versus Rs2.81per share during the correspondingperiod of last year, according tofinancial results sent by the company
to KSE.Besides that company's has
announced a first interim dividend ofRs1.5 per share.
The net sales of the company dur-ing the period hiked 24 per cent toRs39.45 billion compared withRs31.82 billion during correspon-ding period last year.
This increase is mainly due tohigher realised prices of crude oil,gas, LPG, and sulphur and favorablefinancial impact of Rs2.78 billion onaccount of gas price revision inrespect of Bobi field with effect from01 January 2007.
Net realised prices of crude oil, gasand LPG averaged at $61.92 per bar-rel, Rs216.5 per mcf and Rs48,707per MT respectively compared to $58.38 per barrel, Rs 160.51 per mcfand Rs 44,096 per MT on respective-ly during the corresponding quarter
See # 4 Page 11
OGDC 1st quaterearning up 38.5pc
Result close to TFD expectation
EPS stands at Rs3.89; DPS Rs1.5 per share announced
Holbrooke, Zardari speak over phone
Agreementreachedto set upIILMCShabbir Kazmi
KARACHI: Eleven central banksand two multilateral organisationssigned the Articles of Agreement forthe establishment of theInternational Islamic LiquidityManagement Corporation (IILMC).
The move aimed at assisting insti-tutions offering Islamic financialservices in addressing their liquiditymanagement in an efficient andeffective manner.
In addition, the initiative would See # 6 Page 11
JAKARTA: A powerful earthquaketriggered a 10-foot (three-meter)tsunami that pounded remote islandvillages in western Indonesia, killingat least 113 people and leavingscores more missing, an official saidTuesday.
The fault that ruptured Monday onSumatra island's coast also causedthe 2004 quake amd monster IndianOcean tsunami that killed 230,000people in a dozen countries.
A day after the quake struck 13miles (20 kilometers) beneath theocean floor, rescuers were still strug-gling to get to the Mentawai islands- which are closest to the epicenter -because of strong winds and roughseas on the way to the islands thatcan only be reached by a 12-hourboat ride.
But reports of the damage andcasualities from the 7.7-magnitude
temblor were already steadily rising.An Indonesian volcano erupted on
Tuesday, prompting terrified vil-lagers to flee and join the thousandsalready evacuated from its slopes.
The peak of Mount Merapi wasclouded with smoke, making itimpossible to see if lava was spew-ing out, but ash was raining down onfrightened residents.
Authorities had been trying sinceMonday to evacuate more than
See # 7 Page 11
Terrified Indonesians flee erupting volcano
Quake-triggeredtsunami kills 113
Talks with India to stay futile unless redressal of disputes
