PRO 05-07-2012_Layout 1 7/5/2012 1:08 AM Page 2
Thursday, 5 July, 2012
Uncle Sam is sorry… and so are the bulls
Major Gainers
Index ends 22.69 points southwards as investors await the corporate earning announcement. Nobody paid much heed to Hillary’s ‘sorry’ apparently KARACHI
P
STAFF REPORT
AKISTAN Stocks closed lower amid profit taking ahead of corporate earning announcements due next week, as viewed by Ahsan Mehanti, Director at Arif Habib Investments Limited. The Karachi Stock Exchange (KSE) 100-share index declined 22.69 points or 0.16 percent to close at 14,178.10 points as compared to 14,200.79 points of the previous session. The KSE 30-share index shed 1.17 points to close at 12,303.77 points as compared with 12,302.60 points. The market turnover was down to 100.826 million shares after opening at 119.364 million shares. The overall market capitalization declined 0.02 percent and traded Rs 3.610 trillion
as against Rs 3.616 trillion. Losers outnumbered gainers 133 to 131, while 96 stocks were unchanged. Mehanti added “Institutional support witnessed in blue chip stocks after unblocking of Nato routes. Apologies from US for killing of Pakistan troops kept investor sentiments positive.” The KMI 30-share was plunged by 46.09 points to close at 24,448.64 points from its opening at 24,402.55 points. The KSE all-share index closed with a loss of 16.13 points to 9,961.81 points as against 9,977.94 points. He said that limited foreign interest amid uncertain global markets played a catalyst role in bearish activity at KSE. D.G.K Cement was the volume leader in the share market with 10.946 million shares as it closed at Rs 41.06after opening at Rs 41.08. Pakistan Telecom Company P.T.C.L.A
Shares rise on hopes of Monti says agrees with more monetary stimulus Merkel on budgetary discipline
TOKYO: Asian shares rose to a sevenweek high on Wednesday as investors kept hopes high for more monetary policy stimulus to support the faltering global economy, starting with a likely rate cut by the European Central Bank. European shares looked set to marginally extend gains after closing at a two-month high on Tuesday, with spreadbetters predicting that region’s major markets would open up 0.1 percent. U.S. markets are closed for the Independence Day holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced as much as 0.8 percent to its highest since mid-May, led by the energy and materials sectors. Resource-reliant Australian shares were the region’s top performers with a 1 percent gain. AGENCIES
bERliN: Italian Prime Minister Mario Monti said in an interview published Wednesday hours before hosting talks with German Chancellor Angela Merkel that the two wanted growth but not at “the expense of budgetary discipline.” The Frankfurter Allgemeine Zeitung quoted Monti on its website as saying that after last Thursday’s Brussels EU summit the press should have written “Angela + Monti = a step forward for European economic policy.” The German daily said Monti rejected the impression that there had been deep differences between him and Merkel over debt mutualisation. He explained that while Italy had gone for growth, it was “not at the price of budgetary discipline” which is treasured by Merkel. AGENCIES
Business 02
traded 8.022 million shares as it opening at 14.60 and close at 14.52. Jahangir Siddiqi Company traded 5.261 million shares as it closed at Rs 13.33 after opening Rs 13.55. Fauji Fertilizer traded 5.048 million shares as it closed at Rs 115.54 from its opening at Rs |114.28. Nishat Mills Limited traded 4.323 million shares and closed at Rs 51.13 as against its opening at Rs 49.30. National Bank of Pakistan traded 3.842 million shares as it closed at Rs 44.87 as compared to its opening at Rs 45.14. On the future market, the turnover decreased to 10.010 million against 11.244 million shares of Tuesday. The UniLever Pakistan and Nestle Pakistan Limited, up Rs 71.16 and Rs 14.28, led highest price gainers while, Rafhan Maize XD and Colgate Palmolive down Rs 77.34 and Rs 30.09 respectively, led the losers.
FPCCI woos Iranian investors islamabad: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that Pakistan offers tremendous opportunities for investors specially in power sector projects in the province of Khyber Pakhtunkhawa and urged the Iranian investors to take optimum benefits from the opportunities. Offer to this effect was made during the visit of a business delegation led by Vice President of FPCCI Zubair Ali which is currently visiting Iran on a business to business tour. A statement of the FPCCI issued here Wednesday said that upon the arrival of the delegation at Khurasan a city of Mashad (Iran), its governor Gulli Dadi, President Khurasan Chamber of Commerce and Industry (KCCI) Agha Mehdi, Ambassador of Pakistan to Iran Habibullah and Commercial Director Ministry of Commerce Iran Mehdi Latifi received the delegation. APP
COMPANY
OPEN
HIGH
LOW
CLOSE
CHANGE TURNOVER
UniLever Pak Nestle Pakistan Ltd. Indus Motor Company Pak Gum & Chemical Agriautos Industries
7078.84 4058.14 254.86 118.37 81.25
7205.00 4174.99 267.60 124.28 85.30
7076.00 4021.01 256.80 123.99 84.98
7150.00 4072.42 267.56 124.06 85.30
71.16 20 14.28 29 12.70 69,601 5.69 800 4.05 34,391
Major Losers Rafhan Maize Prod. 3144.34 Colgate Palmolive 1000.09 Bata (Pak) Limited 683.30 Philip Morris Pak. 158.39 National Foods 190.53
3270.00 970.00 660.00 156.00 190.00
2990.00 970.00 660.00 150.48 185.00
3067.00 970.00 660.00 150.48 185.79
-77.34 33 -30.09 500 -23.30 200 -7.91 24,686 -4.74 1,162
Volume Leaders D.G.K.Cement P.T.C.L.A Jah.Sidd. Co. Fauji Fertilizer Nishat Mills Limited
41.08 14.60 13.55 114.28 49.30
42.00 14.88 13.97 116.25 51.70
40.80 14.35 13.25 114.65 49.81
41.06 14.52 13.33 115.54 51.13
-0.02 10,946,368 -0.08 8,022,166 -0.22 5,261,568 1.26 5,048,384 1.83 4,323,853
Interbank Rates US Dollar UK Pound Japanese yen Euro
94.4650 147.8282 1.1836 118.8842
Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
BUY
SELL
94.30 116.94 145.55 1.1655 91.88 11.96 25.47 24.98 95.58
95.50 119.16 148.28 1.1872 94.11 12.22 25.92 25.38 98.82
Eurozone retail sales rebound BRUSSELS: Eurozone retail sales rebounded in May, rising by 0.6 percent from the level in April, when they had declined by 1.4 percent, European Union figures showed on Wednesday. Sales of food, drinks and tobacco rose by 0.2 percent and non-food items by 1.0 percent in May compared to April, according to the Eurostat statistics agency. However the retail sales index fell by 1.7 percent in May compared to the same month last year, with non-food sales down by 1.5 percent and food, drinks and tobacco sales dropping 1.1 percent. AGENCIES
CORPORATE CORNER Qatar Airways celebrates launch PACRA maintains ratings of flights to Western Australia of Soneri Bank
PERTH: Qatar Airways today launched scheduled flights to the Western Australian city of Perth, officially marking the start of thrice-weekly services to the country’s mining and exploration hub. Perth becomes Qatar Airways’ second gateway in Australia after Melbourne – and the carrier’s 117th destination worldwide. It is also the latest of several route launches by the rapidly-growing global airline this year. Operated by the award-winning airline’s flagship long-haul Boeing 777 aircraft, passengers will fly in supreme comfort, with fine dining onboard and access to more than 1,000 in-flight audio and video entertainment options in every seat.
LAHORE: Picture shows Abdul Aziz, President and CEO Ufone (centre) and Jaffar Khalid, Chief Technical Officer Ufone (left) receive the ISO 9001:2008 certification from Mallick Mustafa Iman, Country Director DNV.
islamabad: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and shortterm entity ratings of Soneri Bank Limited at “AA-” (Double A minus) and “Al+” (A one plus), respectively. These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The rating of unsecured, subordinated TFC issue of PKR 1,200mln has also been maintained at “A+” (Single A plus). The rating denotes a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The ratings reflect the revitalization being brought into the bank through a) Induction of seasoned team while adding clarity to the organizational structare, b) Focus on energizing its franchise value, c) Development of a bank-wide integrated information system, in tam, a strong control environment, and d) Expansion as well as diversification in income streams. These initiatives are expected to hold the banks respective position in the peer universe that was increasingly under pressure due to deterioration in asset quality, subdued profitability, and limited system presence.
NESPAK a great national asset: state minister laHORE: NESPAK is a great national asset of Pakistan which has been rendering valuable services in the field of engineering consultancy throughout Pakistan and in 36 other countries of the world. This was stated by Mr. Tasneem Ahmed Qureshi, Minister of State for Water and Power during his visit to NESPAK House here on Wednesday. Asad I. A. Khan, Managing Director of NESPAK, gave a detailed presentation on the role and achievements of NESPAK to the visiting Minister. He informed the Minister that NESPAK was established by the Government of Pakistan in 1973 to create a pool of talented engineers; attain self-reliance in engineering consultancy and replace the foreign Consultants. NESPAK has achieved these objectives to a large extent, he
added. To date, NESPAK has completed 3288 projects including 472 overseas projects.
Emirates’ major network expansion
wholesale market is estimated at over $ 42 billion a year which is serving a population approaching 180 million – thereby, attracting foreign retail chains like MCC and Carrefour and allowing local retail markets to expand said Chairman BOI.
ZONG announces Flutter
dUbai: Emirates is embarking on a major expansion of its route network with three additional destinations to be launched in the next six months, on top of the 12 new routes already being rolled out in 2012. From 1 st November, Emirates will launch four weekly flights to Adelaide, rising to a daily service from 1 st February 2013. Adelaide will be the airline’s fifth destination in Australia which is currently served with 70 flights per week. The airline’s current double-daily service to Perth will grow to 19 weekly flights from 1 st December, becoming a triple daily operation from 1st March next year.
Metro, Makro merger finalised islamabad: The merger of German Metro Cash and Carry (MCC) and Makro is finalized and the German group will be taking over all Makro stores, including three in Karachi. This was informed by Vice President International Affairs Metro Group Tino Zeiske during a meeting with the Chairman Board of Investment Saleem H. Mandviwalla. After over taking all the Makro stores, MCC will become a big group in the country having turnover of more than Rs 40 billion annually. The merger can increase the revenues of the MCC by 20 billion per annum. MCC already has five stores in Pakistan with two of them in Lahore and one each in Karachi, Islamabad and Faisalabad. In October 2007, MCC launched its first wholesale store in Lahore. Within four years, it has been able to launch four more stores. This new acquisition will add five more stores taking the existing business to a total of 10 stores nationwide. Pakistan’s retail and
KaRaCHi: After launching various inimitable packages, ZONG – the digital partner of Pakistani nation, is now announcing its first ladies package called Flutter. This deal is designed while keeping in mind the fact that women have different requirements as compared to men and these needs have to be addressed differently. Realizing that women are an underrepresented segment of our society, ZONG has come up with Flutter which talks to women directly in their tone of voice. The package is available to all ZONG customers who can subscribe to it by simply sending “Sub” or “Y” to 369 via SMS. After activation, subscribers will be able to enjoy 75 free minutes, 100 SMS, Flutter lounge and call block service.
UCP’s ICIBM-2012 laHORE: The 2nd International Conference on Contemporary Issues in Business Management 2012 (ICIBM-2012) was held on July 4th at Pearl Continental Hotel Lahore. ICIBM provides an exclusive platform for researchers, academicians and professionals across the world to share their research contributions and experiences. Participants from cross business disciplines met and interacted with each other in this dynamic event for future research directions and applied research needs.
KARACHI: Group photo of Hinopak Management at the grand launching ceremony of ‘New Hino Dutro 300 Series’, held at a local hotel.