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International Karachi, Wednesday, September 22, 2010, Shawwal 12, Price Rs12 Pages 12

Jordanian air chief calls on Gen Kayani

PSM ex-chief indicted in corruption case

See on Page 12

CJ says bench, bar cooperation inevitable

See on Page 12

Nine Nato soldiers killed in copter crash

See on Page 12

See on Page 12

Economic Indicators Forex Reserves (10-Sep-10) Inflation CPI% (Jul 10-Aug 10) Exports (Jul 10-Aug 10) Imports (Jul 10-Aug 10) Trade Balance (Jul 10-Aug 10) Current A/C (Jul 10- Aug10) Remittances (Jul 10-Aug 10) Foreign Invest (Jul 10-Aug10) Revenue (Jul 10-Aug10) Foreign Debt (Jun 10) Domestic Debt (Jul 10) Repatriated Profit (Jul 10) LSM Growth (Jul 09 - Jun 10)

GDP Growth FY10E Per Capita Income FY10 Population

NRO declared void so sentences stand resorted: SC

$16.07bn 12.79% $3.56bn $6.25bn $(2.69)bn $(944)mn $1.72bn $267.10mn Rs 185bn $55.63bn Rs 4705.4bn $62.10mn 4.55% 4.10% $1,051 170.59mn

Imtiaz, Khawaja copped in court l Not arresting Khawaja tantamount to defying orders: SC l PM chairs consultative meeting; vows to follow SC verdicts

Portfolio Investment SCRA(U.S $ in million)

43.06 -42.81 1.23 2337

Yearly(Jul, 2010 up to 20-Sep-2010) Monthly(Sep, 2010 up to 20-Sep- 2010) Daily (20-Sep-2010) Total Portfolio Invest (9 Sep-2010)

NCCPL (U.S $ in million)

FIPI (21-Sep-2010) Local Companies (21-Sept-2010) Banks / DFI (21-Sept-2010) Mutual Funds (21-Sept-2010) NBFC (21-Sept-2010) Local Investors (21-Sept-2010) Other Organization (21-Sept-2010)

0.65 -1.77 -1.29 1.05 0.36 0.63 0.36

Global Indices Index Close KSE 100 9,992.50 Nikkei 225 9,602.11 Hang Seng 22,002.59 Sensex 30 20,001.55 ADX 2,637.76 SSE COMP. 2,591.55 FTSE 100 *Dow Jones *Last Updated 20:00 PST

Change -71.08 -23.98 25.25 95.45 6.20 2.84

GDR update 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 PKR/Shares 2.60 111.46 17.00 145.76 2.00 42.87 1.70 36.44 9.78 33.54

Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)

12.52% 12.66% 12.79% 13.00% 12.64% 12.75% 12.89% 13.22% 13.3% 13.34% 13.4% 13.54% 13.72% 13.84% 14.05%

08-Sep-2010 08-Sep-2010 08-Sep-2010 30-Jul-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010 21-Sep-2010

Commodities *Crude Oil (brent)$/bbl 79.15 *Crude Oil (WTI)$/bbl 73.52 *Cotton $/lb 101.35 *Gold $/ozs 1,277.10 *Silver $/ozs 20.64 Malaysian Palm $ 843.10 GOLD (NCEL) PKR 35,338 KHI Cotton 40Kg PKR 7,770 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 80.25 Canadian $ 82.50 Danish Krone 14.90 Euro 111.00 Hong Kong $ 10.90 Japanese Yen 0.987 Saudi Riyal 22.68 Singapore $ 63.55 Swedish Korona 12.00 Swiss Franc 84.80 U.A.E Dirham 23.20 UK Pound 133.10 US $ 85.75

81.25 83.50 15.30 112.30 11.30 1.012 22.90 64.55 12.50 85.80 23.40 134.80 86.05

Inter-Bank Currency Rates Symbols

Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $

Buying TT Clean

Selling TT & OD

80.98 83.21 15.06 112.16 11.04 1.000 22.85 64.29 12.31 85.33 23.33 133.49 85.74

81.17 83.41 15.09 112.42 11.06 1.002 22.90 64.44 12.34 85.53 23.39 133.81 85.92

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

33°C 37°C 33°C 33°C 29°C 38°C

MIN

20°C 26°C 24°C 23°C 7°C 22°C

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UNITED NATIONS: Foreign Minister Shah Mehmood Qureshi speaks during the Millennium Development Goals Summit at the UN headquarters in New York.-Reuters

Agri-input package for devastated farmers gets ECC go-ahead

Bailout agreed for flood-hit growers ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) here on Tuesday agreed to provide agri-inputs including seeds and fertilisers to the farmers of floods-affected areas for next Rabi season to provide maximum relief to them. Committee, met here under the chairmanship of Federal Minister for Finance Dr Abdul Hafeez Shaikh, also reviewed the key economic indicators of the country. Later, Secretary Finance Salman Siddique briefed the media about the decisions of the committee. ECC, he said was informed

that about 70 per cent flood affected areas would be ready for cultivation for next Rabbi crops as the flood water is receding in these areas. ECC was informed that according to initial estimates about Rs21.35 billion was required for the cultivation of 3.5 million acres land in the flood affected areas. The Committee also authorised National Fertilizer Company to fulfill the domestic needs of the agriinput and was informed that about 260,000 bags of 50-kg available with NFC to meet domestic need.

The meeting also discussed the indicative price of wheat for 2010-11 and allowed the provinces to determine the indicative prices of wheat. The ECC has withdrawn regulatory duty on the import of raw sugar and Trading Corporation of Pakistan (TCP) would henceforth not import raw sugar rather the government has allowed the private sector to import raw sugar without any limitation of quantity and time. It was decided that TCP would auction 50,000 metric tons sugar for the private sector. -APP

Rehab begs elected representatives’ efforts

Govt borrows Rs216 billion in 10 weeks

Non-state actors imperil peace: PM ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani terming the non-state actors as major threat to world peace has stressed the need for united efforts against the forces of conservatism and extremism, and promoting interfaith dialogue and harmony. "World Peace Day reminds us of varying nature of challenges and threats posed to the global peace.” “The day serves as a clarion call for us to identify the factors that threaten peace and evolve strategies for countering them". "The major threat comes from the non-state actors who are bent on dictating international agenda by employing various methods", Gilani said in his message on the World

Peace Day. Given the magnitude of the challenge, the Prime Minister said, "It must be our earnest effort to close our ranks and put up a united front against the forces of conservatism and extremism". "Peace is the essential message of every divine religion. We cannot and should not allow the non-state actors to hijack our religious beliefs", he added. Meanwhile talking to a group of MNAs who called on him at his chamber Prime Minister Gilani impressed upon the elected members to regularly visit their respective constituencies particularly in the flood ravaged areas to redress the problems of the affected people. See # 18 Page 11

Aamir Abidi KARACHI: The government's borrowing from the central bank surged 145 per cent to Rs216 billion in ten weeks till the week ended on September 9, 2010 from Rs88.2 billion in a year-ago period. As per details available, borrowing by federal government's from State Bank of Pakistan ballooned by 235 per cent to Rs231 billion in above mentioned period against Rs69 borrowed in same period last year. On the other hand, provincial governments cumulatively paid See # 22 Page 11

US envoy meets Zardari ISLAMABAD: President Asif

Govt decides to bite into uplift, non-uplift funds Ali Zardari Tuesday met US

Cut in allocation to mobilise Rs200bn ISLAMABAD: Minister for Information and Broadcasting Qamar Zaman Kaira has said that Prime Minister has already given instructions to the concerned authorities to mobilise over Rs200 billion through cut in development and non-development expenditures. Talking to newsmen here Tuesday, he said the provinces have also been asked to do the same and both the federal and provincial governments are sharing the expenditure being incurred on disbursement of the initial compensation of

twenty thousand rupees per flood affected family. He said it is not the question of donors telling us to mobilise internal resources as the government was aware of the need to generate more revenues to meet the challenge caused by floods. The Minister said the compensation amount would be distributed transparently and justly among the provinces. He made it clear that the distribution of assistance would be proportionate to the damages incurred by the provinces See # 19 Page 11

ambassador Anne W Patterson at the Presidency to discuss host of issues with special focus on flood affectees. President thanked US ambassador for helping and supporting Pakistan when it needed the most besides US Government overwhelming See # 21 Page 11

Drone kills more in SWA SOUTH WAZIRISTAN: Eight terrorists were killed in US drone missiles attack on a vehicle in Jandola area of South Waziristan bordering with Afghanistan on Tuesday. See # 20 Page 11

ISLAMABAD: Former chief Intelligence Bureau (IB) Brig (Retd) Imtiaz Ahmad and former chairman Newtech and Managing Director OGDCL Adnan Khawaja have been arrested from court room under the orders of Supreme Court (SC) and sent to Adiala Jail in implementation of NRO verdict case. During the hearing of the case, SC maintained that NRO had been declared void on December 16, and the sentence terms of both the accused persons stand restored in accumulation of illegal assets case and their acquittal stand annulled automatically in the light of apex court decision. The bails granted to them stand no more now, court added. A 3-member bench of SC comprising Justice Tariq

Reopening of NRO cases

Secy Law directed to report in 3 days ISLAMABAD: Supreme Court of Pakistan Tuesday directed Secretary Ministry of Law and Justice to prepare a fresh summary within three-days regarding implementation of its verdict on National Reconciliation Ordinance and submit it to Prime Minister. A three-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Tariq Parvez See # 12 Page 11 Parvez and Justice Ghulam Imtiaz had been convicted and Rabbani and presided over by sentenced to 8 years imprisonChief Justice of Pakistan ment and fined 7 million rupees Iftikhar Muhammad Chaudhry while Adnan Khawaja had been took up the case on implemen- awarded punishment of 2 years tation of apex court decision on and fined Rs 200,000. The court had also disqualiNRO for hearing. Deputy Prosecutor General, fied them for holding any pubNAB Raja Aamir Abbas told lic office for 10 years. See # 13 Page 11 the court that Brig (Retd)

Qureshi addresses Socialist Int’l Forum

Yes to trade, no to aid: FM NEW YORK: Foreign Minister Shah Mehmood Qureshi said Tuesday Pakistan wants economic growth in exchange of trade so he urged generous nations to let Pakistan have access to their markets for his country's economic development, media reported. "We need trade more than aid", Qureshi told attendees of a forum. Addressing a Socialist International Forum (SIF) in New York, he said the government was trying to address economic challenges being surfaced by worst ever floods in the history of country.

He thanked international community for its generous help and donations to deal with such a monstrous challenge. Pakistani people have forged unity among their ranks to help rehabilitate flood-ravaged people, he informed attendees. He urged SIF forum to extend Pakistan access to European markets, which he thinks should be the better way to uplift shattering economy of a flood-ravaged nation. Qureshi also held one-on-one meeting with Turk foreign minister to discuss issues pertaining to cooperation in sectors including agriculture and skilled education. -Agencies

Import duty on raw sugar gone ISLAMABAD: Government has decided to waive duty on raw sugar, Agriculture Minister Nazar Mohammad Gondal said Tuesday. "We have taken a decision on waiving the duty on the import of raw sugar," he told Reuters. Talking to media here after inaugurating second APSCO symposium on 'Food Security and Monitoring Agriculture through Satellite Technology' he said the timing and quantity of the duty waiver on raw sugar would be announced soon. Opposing the increase in price of wheat, he urged the provinces to sell wheat on the

price they had purchased. Provinces should exhibit national spirit. Right now there was no need to increase flour prices. He lauded the services of Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) provided during the recent flooding. Earlier in his inauguration address the minister specially thanked the Asia Pacific Space Cooperation Organisation (APSCO) for holding the seminar in collaboration with Suparco. He expressed his satisfaction See # 15 Page 11

Four new funds fail to add to industry size

MFs down 1.4pc in August MoM Raza Baqar KARACHI: Mutual Funds industry size declined by 1.4 per cent MoM to Rs207.3 billion in second month of fiscal year 2010-2011 as compared to Rs210.2 billion in July 2010, despite of four new funds have been launched in the month but

disappointedly they failed to increase fund size as mutual fund industry asset under management fell below Rs208 billion. The decline in asset size growth was due to fall in asset class value i.e. KSE 100-Index declined by 6.71 per cent See # 17 Page 11

Notices served on OMCs over fuel shortage ISLAMABAD: In the long-run, taking the notice of reports regarding growing shortage of fuel in country, the Oil and Gas Regulatory Authority (OGRA) has served notices on the Oil Marketing Companies (OMCs) due to their failure to ensure availability of petrol and to maintain prices at petrol pumps. Initial inspections conducted by Ogra revealed that retail outlets of some OMCs were intentionally involved in overcharging and black-marketing of petrol and diesel by supplying products to illegal sale points. The Ogra has taken notice of such malpractices and has decided to take action against the OMCs/ petrol pump owners involved in such activities. The regulator has also written to the chief secretaries of all provinces to issue necessary instructions to the DCOs for a strict check on overcharging at petrol outlets. It has also asked the provincial departments to take stern action against illegal outlets selling petrol on higher prices. Talking to media on condition of anonymity, an official of Ogra See # 14 Page 11

MD PSO assures to smooth fuel supply in 48hrs LAHORE: Managing Director Pakistan State Oil (PSO) Irfan Qureshi Tuesday said that the supply of petrol has started in most parts of the country and the situation would become normal within the next 48 hours. Addressing a press conference here, MD PSO stated that the petroleum crisis was started due to the shut down of Pak Arab Refinery Company (PARCO), damages of road networks after heavy floods across the country, Eid holidays and the tense situation in Karachi from where the imported oil was to supply to the refineries. He said that after a suspension of 43 days, the Parco started its operation Monday and it would start 100 per cent production from Wednesday (today) after that the supplies would be See # 16 Page 11


2

Wednesday, September 22, 2010

3-day Electrotrade expo inaugurated

Target killings

KCCI to hurting business partner with Pak Electrical Engineers Staff Correspondent

Jamil Siddiqui

MUZAFFARGARH: MD/CEO MOL Pakistan, János Feher handing-over the relief goods to Commander Corps Logistics-Brig Masood Ahmad for the flood victims of Muzaffargarh.-PR

CCPO Karachi calls on Qaim

Law enforcers should change strategy: Malik KARACHI/ISLAMABAD: Federal Interior Minister, Rehman Malik said on Tuesday that law enforcement agencies should change their strategy to curb terrorism. Malik was talking to the media outside the Parliament House. He asked Shia scholars to remain calm as he blamed the enemies of the state for wanting to create conflict between Shias and Sunnis. Rehman also said that scholars should learn lessons from the situation in Quetta, Lahore,

WEDNESDAY Time Programmes Time 8:00 9:00 9:02 10:00 10:15 11:00 11:05 12:00 12:05 12:30 13:30 14:00 14:15 15:05 15:30 16:30 17:00 17:05 18:05 19:00 19:05 19:30 20:00 20:05 21:00 22:05 23:00

Programs Pakistan Aaj Raat News Pehla Sauda News Bazaar News Ghar Ka Kharch News Bara ka Para Mang Raha Hay Pakistan Akhri Suada News Power Hour Islam or Karobar Agri Business Bazaar News Ghar Ka Kharch Pegham-e-Islam News Islam Aur Karobar Karobari Dunya Headlines Islamabad Say Pakistan Aaj Raat Doosra Pehlu News

TV PROGRAMMES WEDNESDAY Time Programmes 7:00 News 8:00 News 9:05 Subah Savere Maya ke Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Tonight With Jasmeen (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Crime Scene 20:03 Newsbeat 21:00 News 22:03 Tonight With Jasmeen 23:00 News 23:30 24

KARACHI: President Karachi Chamber of Commerce and Industry (KCCI), Abdul Majid Haji Muhammed has offered Pakistan Electrical Engineers to sign an MOU for joint efforts in order to bring Pakistan out of present economic crises. While addressing as chief guest at the inaugural session of the 3 day Electrotrade 2010 at Karachi Expo Center, on Tuesday he said that with public private partnership the solutions of the energy, flood, law and order and other crises can be found. Commending the holding of first ever and unique exhibition by the Institute of Electrical

Peshawar and Karachi. Replying to a question about the killed leader of MQM, Rehman said that he was in contact with MQM 90 office and was ready to help if requested. Meanwhile the new Capital City Police Officer (CCPO) Karachi, Fayyaz Leghari, called on Sindh Chief Minister, Syed Qaim Ali Shah, at the CM House here on Tuesday. An official statement said that he sought guidance from the chief minister regarding the professional duties.

Syed Qaim Ali Shah urged the CCPO Karachi to do his best for the maintenance of law and order in the metropolis and that the law be enforced without any distinction. He directed that effective action be taken against miscreants and anti-social elements and they be brought to book. The chief minister said that under a joint strategy the administration and the law enforcement agencies should ensure the protection of lives and property of the people.-Agencies

PHMA elects office bearers

DPS stresses on girls education

KARACHI: Zonal Committee of Pakistan Hosiery Manufacturers & Exporters Association (PHMA) unanimously elected Junaid Esmail Makda as Chairman; Irfan Z Bawany as Senior ViceChairman and Shabbir Bilwani as Vice-Chairman, PHMA Southern Zone for the period 2010-2011. These Office Bearers were elected unopposed Promising to sincerely and dedicatedly serve the association and the knitwear and hosiery industry in promptly resolving the issues and problems, Juniad Makda, said that, he was grateful to Jawed Bilwani, Chief Coordinator and Leader of the Export Development Gourp and all its members who had the confidence in him and chose him as Chairman. He said that while the previous team headed by Akhtar Yunus has done commendable work and with the best efforts of our leader and entire team, PHMA had become the leading and most prominent Association.-PR

KARACHI: Women are the heart of any society and therefore it is of paramount importance to have educated mothers, this was the moto in the mind of Pakistan's premier industrialists Ahmed Dawood who began Dawood Public School (DPS) 26 years back as a philanthropic venture of the Dawood Group. Ahmed Dawood who believed that the root of Pakistan's political, eco-

nomic and social problems lie in the appalling lack of literacy amongst its female population. DPS now provides quality education to approximately 1600 female students from the age of two and a half up to 16 after completing their O levels. The School is known to have an excellent academic record, with a 100 per cent pass rate and at least one national/international accolade every year.-PR

appreciation from all our dealers which is why we celebrate it every year as a big annual event. Through 'Jeet ka Josh', we acknowledge the efforts made by our dealers in promoting Dawlance product range." The exciting gift range includes a trip to Bali and Malaysia, Honda City, Suzuki Mehran, Suzuki Cultus besides Dawlance Microwave Ovens and Refrigerators.-PR

Teams formed to check petrol scarcity ISLAMABAD: Ministry of Petroleum has constituted teams to monitor black marketing of petroleum products in the country that has been tasked to raid at different petrol pumps to check quality and prices of petrol amid prevailing severe scarcity of petrol in the country. According to details Minister for Petroleum headed a meeting here Tuesday to review prevailing scarcity of petrol in the country and availability of petrol in the country and directed to constitute raiding committees to check prices of petrol in the country as complaints have been receiving related to black marketing of the petrol across the country. The meeting was also briefed that Parco, Attock oil refinery and National Oil refinery were producing oil according to the needs of the country. Agencies

Germany keen to enhance Gas load shedding trade ties, says envoy from Nov

KARACHI: Pakistan is going through some extremely tough and difficult times and Germany is interested in helping Pakistan through these difficult times. This was said by the German Consul General in Karachi Dr Christian Brecht at a reception held in honour of

a visiting German business delegation. The German Consul General said that the federal republic was keen to help Pakistan through the concept of increasing trade as said so often by President Zardari. A 28member German business delegation visited Karachi

KARACHI: German Consul General Karachi Dr Christian Brecht, is seen with a German business delegation currently visiting Pakistan to explore trade avenues.-PR

Salim said that his organization is holding technical seminars on current issues once each month and said that keeping in view of the acute energy crises and Alternate Energy is the best option IEEEP is ready to cooperate the private sector to bring new ideas and innovations to steer out of the energy dilemma. The inaugural session was attended by Executive Director Events & Conferences International Shaikh Jamaluddin, Director Events & Conferences International S. Ather Jawed Saifee, Vice President South IEEEP Engineer S A Jafri and head of marketing Mohammed Khalid Khan.

as part of a familiarization trip to Pakistan. He informed the visiting delegation that Karachi was a very important business hub of Pakistan. He said that Karachi generated 65 per cent of the tax revenue and more than 35 per cent of the GDP of the country. He also said that it was a major industrial centre and hosted tens of thousands of industries ranging from textile, leather, manufacturing, and the country's largest steel mill. It was also the major port of the country. The German consul general thanked President Pakistan German Business Foundation (PGBF) Saifuddin Zoomkawala for organising the delgation's visit to Pakistan and wished the delegation success in its visit to the rest of the country.-PR

PESHAWAR: In view of 900 million cubic of shortfall Sui Northern Gas decided to start gas load-shedding from November 1 instead of December and it would continue till 15 March. Schedule has been prepared for five months of severe load-shading in winter. New CNG stations and supply of new gas connections are being banned in Khyber-Pakhtunkhwa. According to the Sui Northern Gas spokesperson (SNG) this step has been taken due to shortfall of gas, according to him supply of gas to CNG stations and industrial sector will be for three days in a week, domestic user will also be affected from it. -Agencies

Rs30 billion remained unsold resulting in massive blockage of working capital of the businessmen. He said that due to the downward trend of business the owners are forced to retrench over 25 per cent of sales force and now the situation has gone so worse that now they are even not able to pay their utility bills and overhead expenses. He strongly urged the Government to take immediate punitive action against those culprits engaged in target killing and restore law and order so that the situation can normalise. Those who attended the meeting included Ansar Baig Qadri, Jamil Ahmed Paracha, Zeeshan Falafi, Haji Hamesh Gul, Syed Sharafat Ali and others.

PSO working hard to carry out oil supply LAHORE: Pakistan State Oil (PSO) imported three vessels of Mogas, (approx 40K MTS each) out of which two have been discharged," highlighted PSO Managing Director, Irfan Qureshi, at a conference here on Tuesday. PSO took this action keeping in view the PARCO shut-down. Quoting the reason for shortage of petrol, Irfan Qureshi stated that recent floods have caused damage to roads due to which transportation from PARCO was

badly affected resulting in shut down of PARCO refinery rendering it non-operational for 43 days. In addition to this, CNG load-shedding further exacerbated the situation in the province. Even in the face of these external factors, PSO maintained adequate stock level at its depots and terminals (as per govt directives to all OMCs). PSO carried on with operations at all its locations round-the-clock to address the shortage, PSO Managing Director further told.-PR

China textile to be held in Oct

CIPE moot on 23rd

KARACHI: President Karachi Chamber of commerce and Industry (KCCI) Abdul Majid Haji Mohammed addressing during the inaugural session of the 3-day Electrotrade 2010 exhibition held at Karachi Expo Centre.-Photo by Jamil Siddiqui

Dawlance fetes ‘Jeet ka Josh 5’ KARACHI: Dawlance is celebrating 'Jeet ka Josh' fifth time in a row. In this year's scheme 'Jeet ka Josh 5' which started from 1st September a large number of dealers are participating from all over the country to win thousands of assured prizes worth more than Rs80 million. Speaking about 'Jeet ka Josh 5', Dawlance representative said, "'Jeet ka Josh' has received much

Engineers Pakistan he said that it is a learning platform for all the stake holders and to catalyst new inventions bearing positive impact on Pakistani economy. Earlier in his opening remarks the Convener ElectroFair 2010 M Irfan Shaikh said that the exhibition is showcasing the local latest innovations of Pakistani Electrical Engineers. He said that IEEP is the leading professional body of the country to promote skills through dissemination of knowledge with Seminars and exhibitions and is most important platform for all the stake holders. On this occasion Chairman IEEEP Karachi Center Engineer Tahir

KARACHI: Due to current wave of target killing spree and worst law and order situation over 80 per cent business of major trading centers across city is ruined causing Rs1.5 to Rs2 billion daily loss forcing traders to migrate to relatively safe business centers of Pakistan. This was disclosed by the Chairman All Karachi Tajir Ittehad (AKTI) Ateeq Mir while presiding an emergent meeting of the traders at the Arambagh Furniture Market on Tuesday. He alleged that due to non serious attitude by the Government city business is drifting to a stand still and during the Eid season finished products worth

I S L A M A B A D : Intertextile Shanghai Apparel Fabrics will offer a comprehensive seminar programme in October at Shanghai New International Expo Centre, with topics ranging from accessories and trims tips to design and trends as well as market information, said a statement issued here. The programme is scheduled to take place for three days from October 19 and will be held in tan-

dem with the trade fair. Several new themes will be discussed on-site with full day of "Design & Trend" seminars on 21 October. Apart from the new programme offered, several more informative discussions will be held from 20 - 21 October, ranging from: Design & Trend, Market Information and Business Strategies, Technology and Solutions, Certification and Testings and legal issues.-Online

KARACHI: CIPE will be organising an interactive session titled "Sustainability and Wealth Creating Through Corporate Governance" in collaboration with Chairman, Banking & Insurance SubCommittee of Karachi Chamber of Commerce & Industry Ateeq-ur-Rehman, on Thursday (Sept 23) at a local hotel here. Focus of this session is to help companies to understand how sustainability and wealth creating could be attained through effective Corporate Governance.-PR

ISLAMABAD: members of Pakistan Computer Association presenting a cheque of 10,000 pounds to PM Syed Yousuf Raza Gilani Raza for flood affectees.-PR

Govt to support 'N' if it backs case against Musharraf ISLAMABAD: Law minister Babar Awan said government had no objection over it and the bill be referred to the committee for further consideration. If PML-N wanted to institute treason case against former president Pervez Musharraf then government would support it, he added. Amendment bill on high treason act 1973 tabled by PML-N in National Assembly (NA) has been referred to respective committee while amendment bill in respect of section 489 of Pakistan Penal Code 1860 has been rejected

being opposed by PML-N. Presenting the Amendment Bill 2010 in high treason act-1973 in the house Tuesday on private members day, PML-N legislator, engineer Khurram Dastgir Khan said this amendment could bring a change in the political scenario of the country. Parliament passed high treason act in 1973 under which the powers for institution of treason case against those indulged in high treason rested with the federal government. It was laid down in section 3 that only federal government had authority to register

high treason case and any other province or agency could not do so. This needs to be changed, he stressed. He went on to say that it had been proposed in this section that any citizen of the country could file high treason case in high court. Nasir Bhutta of PML-N presented amendment bill in section 489-F of Pakistan Penal Code-1860 and law minister Babar Awan supported it. However when the speaker solicited opinion of the house on this bill then majority of PML-N members opposed it and bill was rejected.-Online


3

Wednesday, September 22, 2010

Debt sales help euro; dollar falls before Fed

Swiss franc dips after export growth eases ZURICH: The Swiss franc dipped on Tuesday as Swiss export growth eased in August, adding to the Swiss National Bank's case to keep interest rates on hold for longer. Swiss exports rose by 4.6 per cent on the year when adjusted for working days, slowing from 7.4 per cent growth in July, data from the Federal Customs Office showed. The country's trade surplus narrowed sharply to 568 million francs. The franc was 0.3 per cent lower against the euro compared to the New York close, trading at 1.3168 per euro at 0648 GMT. The franc was 0.2 per cent firmer against the dollar at 1.0066 per dollar. The franc had dropped sharply last Thursday after the SNB struck a surprisingly sceptical note on the country's economic outlook and via a lower inflation forecast signalled it may hold rates at ultra-low levels well into 2011.-Reuters

USD slips on caution that FOMC may hint at more QE NEW YORK: The euro rose against the dollar on Tuesday, helped by solid demand at sales of euro-zone debt, while expectations that the US Federal Reserve may consider additional monetary easing weighed on the greenback. Irish, Greek and Spanish government debt auctions attracted decent demand, easing concerns about whether the eurozone's highly indebted countries can obtain the funding they need. Few expect the Fed, which is holding a regular policy meeting on Tuesday, to apply another dose of quantitative easing when it announces its decision at 1815 GMT. The accompanying statement, however, is expected to be dovish due to recent evidence of a weakening economy. "Well-received debt auctions from the peripheral euro area

countries of Ireland, Greece and Spain spurred bullish momentum in the euro, driving it almost 90 pips higher," said Dan Cook, a senior market analyst at IG Markets in Chicago.

"(But) so much of the remainder of today's action hinges on the FOMC," he added. "While no additional quantitative easing measures are expected, the language in the statement alone could cause large swings in the currency market." In late morning trading in New York, the euro was up 0.5 per cent at $1.3129. On Friday the single currency hit its high-

Asian currencies

Peso, rupiah lead gains on revived risk appetite BANGKOK: The Philippine peso and Indonesian rupiah led a moderate rise in Asian currencies on Tuesday with the dollar held down by uncertainty over how the United States will revive its economy. Dollar/peso NDFs were bid up across the curve with the short-end attracting most buying interest and investors focusing on arbitraging wider gaps of spot and forward rates. The peso was buoyed by the market's risk appetite and yuan's new postrevaluation high mid-point. "The onshore level is lower than offshore where players are free to speculate, causing a wider gap between forwards

and spot. It's very liquid up to three months and good enough interest up to six months," a Manila-based trader said. The liquid three-month dollar/peso NDFs rose to 44.32, some 32 points higher than the spot and implying a 0.7 per cent peso fall from the spot. Dollar/spot was bid at 43.995 at 0420 GMT, up 0.16 per cent from 44.07 late on Monday. Traders expected its rally to run into resistance at 43.80. The peso has gained 0.4 per cent in the past week and 5 per cent this year. The Indonesian rupiah inched up 0.12 per cent to 8,965 per dollar in morning trade on increased inflows ahead of the monthly

Stg slides vs euro after debt auctions LONDON: Sterling hit a twomonth low against the euro on Tuesday as the single currency rose on robust investor demand for Irish and Greek government paper, which eased concerns about euro-zone peripheral sovereign debt. While staying under selling pressure against a broadly strong euro, the pound managed to claw its way back from earli-

er losses versus the dollar as it tracked the single European currency's move higher against the greenback. The euro extended gains after Ireland sold 1.5 billion euros in an auction of 2014 and 2018 bonds, at the top of its target range, with yields well below those seen for the bonds in the secondary market. Greece sold 390 million euros of 3-month T-bills with foreign investors buying about 72 per cent of the paper, the country's debt agency said. The euro rose to a two-month high of 84.70 pence, up 0.7 per

Top Economic Events

cent on the day after stops were triggered initially above 84.16 pence and then 84.50 pence, traders said. By 1505 GMT, it traded at 84.40 pence, having closed just above the psychologically key 84.00 pence on Monday. Technical support also came in at 83.84 pence, the 23.6 Fibonacci retracement of the euro's October 2009-June 2010

move down. Sterling hit a low of $1.5503 against the dollar in early London trade, before pulling back to $1.5550, little changed on the day. Demand from Asian accounts helped support the pound, traders said. In early London trade, the UK currency was hammered versus the Swiss franc on selling by speculative accounts and flows linked to merger and acquisition-related speculation. It fell as low as 1.5536 francs, before pulling back to 1.5596, little changed on the day. -Reuters

government bond auction later on Tuesday. Traders suspected that Bank Indonesia intervention may have tempered gains. The rupiah has been stable in the past week, rising less than 0.1 per cent against the dollar, but it has appreciated 5.1 per cent this year. The Thai baht eased a tad to around 30.76-77 per dollar while Asian peers rose marginally. Dollar/baht was bid at 30.75 at 0556 GMT against 30.73 late on Monday. The baht has appreciated 2.4 per cent in the past month and 8.4 per cent this year, the third-best Asian performer after the ringgit and yen. -Reuters

Taiwan $ slips on cbank move TAIPEI: The Taiwan dollar slipped on a suspected central bank move on Tuesday after a globally softer US currency pushed it higher ahead of a Federal Reserve meeting. The Taiwan dollar ended T$31.765 against the US currency, compared with Monday's close of T$31.752. A suspected central bank move to control market volatility sent it lower. Taiwan's dollar had strengthened earlier in the session, tracking many of its Asian peers, as the US unit hovered near five-week lows against a basket of currencies. The US dollar has weakened before a Federal Reserve meeting later in the day, when the rate-setting committee may signal its readiness for further easing to help revitalise the economy. Taiwan's currency will track gains in the yuan as a proxy for the non-convertible Chinese unit because of the island's strong trade ties with China. A resurfacing of the eurozone sovereign debt crisis could spread into global financial markets and weaken growth-linked currencies such as the Taiwan dollar. -Reuters

Aussie $ firm as RBA heralds rate hikes; Kiwi lags SYDNEY/WELLINGTON: The Australia dollar stood within sight of two-year highs on Tuesday as the country's central bank made its bluntest warning yet that further rate rises would likely be needed to keep inflation in check. The hawkish minutes of the Reserve Bank of Australia's (RBA) September policy meeting echoed an upbeat outlook from RBA Governor Glenn Stevens on Monday and narrowed the odds of a hike as early as October. "The minutes show a very significant increase in the Bank's level of urgency with regard to monetary policy," said Bill Evans, chief economist at Westpac. "Our reading indicates that the bank is set to move on October 5." Interbank futures extended their recent slide as the market priced in a one-in-three chance for a hike to 4.75 next month. A move in November is seen as a 76 per cent chance and December 92 per cent.

A hike would only further widen the Aussie's already attractive yield advantage over most other developed nations. Australian two-year yields were now 438 basis points above those on Treasuries, the biggest gap since mid-2008. All of which kept the Aussie firm around $0.9452, after stretching as far as $0.9495 overnight. Support is seen at $0.9425 and $0.9385 while bullish technicals still target highs from July 2008 at $0.9529 and $0.9586. The Aussie also had a strong session on the yen rising to a four-month high at 81.42 before pulling back a little. The NZ dollar was steady at $0.7283 on Tuesday, after keeping a narrow $0.7274 to $0.7306 range. The kiwi continues to be hindered on rallies by the central bank's downbeat view of the economy on Sept 16, which sparked a selloff in the kiwi, as analysts pared back expectations for future rate rises. -Reuters

est since Aug. 11 at $1.3159, according to Reuters data. As long as the euro holds above the $1.3030 area, some technical analysts see its Aug. 6 high of $1.3334 as an upside

target. But it has to first breach technical resistance at its 200day moving average, which comes in at about $1.3220. The dollar index was down 0.4 per cent at 81.005. In the United States, the dollar briefly pared losses against the yen after a report showed housing starts increased more than expected in August. Despite the improvement in

the data, analysts said it is still too early to declare it a meaningful improvement in the housing sector. Fear of more intervention by Japanese authorities to curb yen gains limited the greenback's losses. The dollar was last 0.4 per cent lower at 85.35 yen, with traders reporting stop loss orders around 85.20 yen. The dollar has failed to climb above its post-intervention high of 85.94 yen set last Friday on the EBS trading platform, capped by Japanese exporters selling ahead of their half-year book-closing on Sept. 30. In other trading, the Australian dollar rose above 95 US cents for the first time since July 30, 2008 after the country's central bank chief suggested Australian interest rates would rise further. It was last little changed at 0.9477 after peaking at 0.9501. -Reuters

Yuan up for 9th day, seen rising more SHANGHAI/HONG KONG: The yuan extended a rally on Tuesday to nine days, rising the most in that period since January 2008 following strong criticism from US President Barack Obama about China's currency policy. Active trading in offshore yuan forwards focused on nearterm tenors after the central bank lifted the yuan's mid-point, its daily reference rate around which the currency is allowed to trade against the dollar, for a ninth consecutive day, the longest string of gains since the landmark July 2005 revaluation. The People's Bank of China set the mid-point at 6.6997 yuan per dollar, from which the yuan can rise or fall 0.5 per cent versus the dollar, compared with Monday's 6.7110. "The market is now convinced that the PBOC is taking action to let the yuan stage a mini-revaluation and many of us expect the yuan to continue to rise steadily in coming weeks to reach 6.6 or even stronger," a Chinese bank dealer in Shanghai said. The yuan hit an intraday high of 6.6987 against the dollar in the early afternoon, breaking

through key resistance at 6.7000 for the first time since the 2005 revaluation and entering a new, stronger trading range, traders said. The currency trimmed some gains late in the session, closing at 6.7079 to the dollar, up from 6.7143 on Monday and rising 1.29 per cent in nine trading days. China's foreign exchange market will be closed from Wednesday to Friday for the Mid-Autumn Festival, and traders said they expected the yuan to continue rising under the PBOC's guidance when the market resumes trading next Monday. Offshore, dollar/yuan nondeliverable forwards fell to imply more yuan appreciation, with three-month NDFs hitting record lows for the fourth day. Three-month NDFs were bid at 6.6580 late on Tuesday, slightly off a record low of 6.6560 touched in early trade but still down sharply from 6.6840 at Monday's close. They implied a further 0.63 per cent yuan appreciation in three months from Tuesday's midpoint, compared with appreciation of 0.40 per cent implied by Monday's closing level. -Reuters

Indian rupee off highs as importers buy USD MUMBAI: Tactical dollar buying by oil firms and importers dragged the Indian rupee lower from a four-month high on Tuesday, but gains in domestic shares and broad dollar weakness underpinned sentiment. Oil refiners are the biggest buyers of dollars in the domestic foreign exchange market and their demand usually picks up towards the end of each month when they make payments. The partially convertible rupee closed at 45.67/68 per dollar, after hitting 45.49, its highest since May 14 and marginally stronger than Monday's 45.70/71 close. Attracted by the country's robust economy, overseas investors purchased $3.3 billion of Indian equities so far in September, taking net investment this year to $16.2 billion. At the day's high, the rupee was up 3.5 per cent so far in the month and had gained 2.3 per

cent in 2010. One-month offshore nondeliverable forward contracts were quoted at 45.83, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, MCX-SX and the United Stock Exchange closed at 45.7250, 45.72 and 45.72, respectively, with the total traded volume on the three exchanges at about $8.9 billion. -Reuters

Time 3:45 All Day 9:30 13:30 14:00 17:30 17:30 17:30 18:00 19:30

Source NZD CNY JPY GBP EUR CAD CAD CAD EUR USD

Events Current Account Bank Holiday All Industries Activity m/m MPC Meeting Minutes Industrial New Orders m/m Core Retail Sales m/m Leading Index m/m Retail Sales m/m Belgium NBB Business Climate Crude Oil Inventories

Forecast -0.19B

Previous 0.18B

Source

Events

Actual

Forecast

CHF GBP CAD CAD USD USD USD

Trade Balance Public Sector Net Borrowing Core CPI m/m CPI m/m Building Permits Housing Starts Federal Funds Rate

0.57B 15.3B 0.1% -0.1% 0.57M 0.60M

1.97B 2.84B 12.3B 2.0B 0.1% -0.1% 0.0% 0.5% 0.56M 0.56M 0.55M 0.54M <0.25% <0.25%

1.1% 1-0-8 -1.2% 0.4% 0.5% 0.5% -5.0 -1.5M

0.1% 1-0-8 2.5% -0.5% 0.4% 0.1% -5.1 -2.5M

Previous Day Previous

Currency Rates Name EUR-USD EUR-GBP EUR-CHF EUR-JPY USD-CHF USD-CAD GBP-USD GBP-JPY AUD-USD EUR-CAD CHF-JPY Gold Silver

As per 22.00 PST Ask High 1.3134 1.3149 0.8447 0.8468 1.3201 1.3211 112.12 112.54 1.0053 1.0072 1.0304 1.0329 1.5549 1.5586 132.73 133.41 0.9475 0.9501 1.3533 1.3555 84.95 85.43 1273.36 1281.55 20.64 20.90

Bid 1.3132 0.8444 1.3197 112.1 1.0049 1.0299 1.5545 132.69 0.9471 1.3527 84.89 1272.61 20.61

Low 1.3064 0.8390 1.3117 111.48 1.0018 1.0280 1.5507 132.43 0.9447 1.3432 84.95 1272.38 20.57

London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 21/09/2010 A USD GBP CAD EUR JPY O/N 0.22788 0.54875 1.04500 0.38938 SN 0.10375 1WK 0.25025 0.55078 1.05833 0.45625 0.11625 2WK 0.25181 0.55563 1.08500 0.50750 0.12625 1MO 0.25625 0.57000 1.11083 0.57688 0.14063 2MO 0.27313 0.62406 1.17833 0.67375 0.17500 3MO 0.28969 0.73188 1.24167 0.82875 0.22000 4MO 0.34625 0.81734 1.30000 0.91875 0.30875 5MO 0.41313 0.92484 1.35500 1.01063 0.36750 6MO 0.47313 1.02938 1.42167 1.11250 0.42750 7MO 0.52500 1.10469 1.48667 1.16375 0.48563 8MO 0.57350 1.18469 1.57000 1.21438 0.53000 9MO 0.62531 1.26531 1.65333 1.26719 0.58063 10MO 0.67750 1.34125 1.72833 1.31500 0.60750 11MO 0.73188 1.41000 1.83500 1.36125 0.63438 12MO 0.79338 1.47438 1.93500 1.40719 0.66375

Major Central Banks Overview Central Bank

Next Meeting

Last Change

Oct 19 2010 Oct 07 2010 Oct 07 2010 Sep 21 2010 Dec 16 2010 n/a n/a

Sep 08 2010 Mar 05 2009 May 07 2009 Dec 16 2008 Mar 12 2009 May 04 2010 Dec 19 2008

Bank of Canada Bank of England European Central Bank Federal Reserve Swiss National Bank The Reserve Bank of Australia Bank of Japan

Current Interest Rate 1% 0.50% 1% 0.25% 0.25% 4.50% 0.10%

Division of National Bank of Pakistan (NBP) KARACHI, September 21,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

85.90 133.81 112.42 83.41 85.53 81.17 12.34 1.00 14.20 64.44 15.09 22.90 11.06 12.81 299.56 27.70 62.52 23.60 23.39 0.07 2.79

85.70 133.49 112.16 83.21 85.33 80.98 12.31 1.00 14.16 64.29 15.06 22.85 11.04 12.78 298.87 27.63 62.37 23.54 23.33 0.07 2.79

85.52 133.19 111.91 82.99 85.11 80.77 12.28 1.00 14.13 64.12 15.02 22.79 11.01 12.75 298.08 27.56 62.21 23.48 23.27 0.07 2.78

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for September 21, 2010

CMKA

BMA

INVSR

GSL

ICSL

11.75 12.00 12.25 12.40 12.55 12.65 12.75 12.85 12.90 13.10 13.20 13.25 13.25 13.30 13.30 13.35 13.35 13.40 13.60 13.75

11.75 12.10 12.20 12.55 12.55 12.70 12.85 12.90 12.90 13.25 13.40 13.45 13.45 13.50 13.50 13.60 13.60 13.58 13.75 13.90

11.70 11.90 12.10 12.20 12.50 12.65 12.75 12.85 12.87 13.25 13.35 13.37 13.40 13.44 13.45 13.45 13.50 13.55 13.70 13.80

11.90 12.00 12.35 12.50 12.65 12.78 12.87 12.93 12.98 13.20 13.35 13.40 13.45 13.48 13.48 13.50 13.52 13.55 13.90 14.00

11.50 11.90 12.20 12.48 12.60 12.70 12.78 12.85 12.90 13.30 13.39 13.42 13.45 13.50 13.53 13.53 13.55 13.58 13.65 13.80

0-7days 8-15dys 16-30dys 31-60dys 61-90dys 91-120dys 121-180dys 181-270dys 271-365dys 2-- years 3-- years 4-- years 5-- years 6-- years 7-- years 8-- years 9-- years 10--years 15--years 20--years

JSCM AvgRate 11.85 12.05 12.20 12.40 12.55 12.65 12.75 12.85 12.90 13.25 13.35 13.37 13.40 13.44 13.45 13.45 13.50 13.55 13.70 13.80

11.74 11.99 12.22 12.42 12.57 12.69 12.79 12.87 12.91 13.23 13.34 13.38 13.40 13.44 13.45 13.48 13.50 13.54 13.72 13.84

Currencies Correlation EUR/JPY Period 1 1 3 6 1 2

AUD/USD EUR/CHF EUR/GBP EUR/USD GBP/USD NZD/USD

week month months months year years

0.52 0.48 -0.02 0.51 0.45 -0.02

0.91 0.76 0.87 0.80 0.93 0.81

0.54 0.53 0.59 0.90 0.91 0.18

0.95 0.87 0.51 0.74 0.93 0.77

0.98 0.85 0.24 0.03 0.72 0.66

USD/CAD USD/CHF

-0.78 0.29 0.39 0.18 0.50 0.02

0.28 -0.47 -0.50 -0.79 0.19 0.05

0.42 -0.30 0.33 0.06 -0.49 -0.16

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)21/09/2010 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 11.50

12.00

11.60

12.10

12.10

12.60

12.45

12.70

12.50

12.75

12.75

13.25

12.90

13.40

13.25

13.75

ABLN 11.50

12.00

11.75

12.25

12.10

12.60

12.55

12.80

12.70

12.95

12.80

13.30

12.95

13.45

13.00

13.50

JSBL

11.60

12.10

11.80

12.30

12.25

12.75

12.60

12.85

12.70

12.95

12.70

13.20

12.70

13.20

12.90

13.40

ASPK 11.60

12.10

11.80

12.30

12.10

12.60

12.50

12.75

12.60

12.85

12.70

13.20

12.75

13.25

12.90

13.40

CIPK

11.70

12.20

11.90

12.40

12.15

12.65

12.40

12.65

12.60

12.85

12.70

13.20

12.90

13.40

13.05

13.55

DBPK 11.40

11.90

11.70

12.20

12.10

12.60

12.40

12.65

12.60

12.85

12.65

13.15

12.70

13.20

12.80

13.30

FBPK

11.50

12.00

11.75

12.25

12.00

12.50

12.50

12.75

12.60

12.85

12.65

13.15

12.70

13.20

12.95

13.45

FLAH 11.50

12.00

11.80

12.30

12.15

12.65

12.50

12.75

12.65

12.90

12.70

13.20

12.80

13.30

12.95

13.45

HBPK 11.45

11.95

HKBP 11.65

12.15

11.80

12.30

12.15

12.65

12.50

12.75

12.65

12.90

12.70

13.20

12.75

13.25

12.90

13.40

N I PK 11.50

12.00

12.00

12.50

12.55

13.05

12.85

13.10

12.95

13.20

13.00

13.50

13.10

13.60

13.20

13.70

HMBP 11.75

12.25

11.90

12.40

12.25

12.75

12.65

12.90

12.80

13.05

12.85

13.35

12.85

13.35

12.90

13.40

SAMB 11.50

12.00

11.80

12.30

12.10

12.60

12.55

12.80

12.65

12.90

12.75

13.25

12.85

13.35

12.95

MCBK 11.80

12.30

11.90

12.40

12.25

12.75

12.40

12.65

12.55

12.80

12.60

13.10

12.70

13.20

12.95

13.45

NBPK 11.25

11.75

11.75

12.25

11.85

12.35

12.50

12.75

12.65

12.90

12.80

13.30

12.90

13.40

13.00

13.50

SCPK

11.50

12.00

11.80

12.30

12.15

12.65

12.40

12.65

12.55

12.80

12.60

13.10

12.70

13.20

12.90

13.40

UBPL 11.50

12.00

11.75

12.25

12.15

12.65

12.50

12.75

12.65

12.90

12.70

13.20

12.80

13.30

12.95

13.45

AVE

12.03

11.79

12.29

12.14

12.64

12.50

12.75

12.64

12.89

12.72

13.22

12.80

13.30

12.95

13.45

11.53

11.70

12.20

12.10

12.60

12.50

12.75

12.65

12.90

12.75

13.25

12.80

13.30

12.95

13.45

13.45


4

Wednesday, September 22, 2010

The Financial Daily International Vol 4, Issue 49

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com

Local lenders & Basel III The top banking regulators of the world have agreed on new comprehensive rules aimed at making banking industry safer and protecting international economies from future financial disasters. Interestingly they have come up with new rules after nearly two years of collapse of Lehman Brothers that plunged banking around the globe into crisis exacting bailouts worth billions of dollars to save the system from complete collapse. The recommendations made are subject to approval in November this year by the G-20 nations and then implementation by individual nations before becoming binding. The group has set a deadline of January 1, 2013, for the member nations to adopt the rules to be known as Basel III. The centerpiece of the agreement is a measure that will require the banks to raise the amount of common equity they consider the least risky form of capital to 7 per cent of assets from existing 2 per cent. Together with other requirements intended to safeguard against risk, it could significantly alter the way banks do business. The new requirements will more than triple the amount of capital that banks must hold in reserve, an effort to move banks toward more conservative positions and force them to maintain a larger cushion against potential losses. However, banks have expressed apprehensions that the new regulations could reduce profits, strain weaker institutions and raise the cost of borrowing. Keeping in view the enormity of job the regulators are willing to provide a lengthy transition period to banks to adjust to some of the strictest rules. The agreements reached are fundamental and aimed at strengthening global capital standards said Jean-Claude Trichet, President, European central bank and chairman of the group comprising financial officials from 27 countries. PricewaterhouseCoopers has broadly supported the Basel III proposals released this week. However, it has expressed concerns over the implementation aimed at strengthening the financial stability of banks. The local banking industry is cognisant of the fact that to ensure financial stability it is in their own interest to adopt international standards. The State Bank of Pakistan (SBP) has already adopted stringent standards whereby banks have to comply with capital adequacy ratio (CAR) requirement of 10 per cent against global standard of 8 per cent. On top of this every commercial bank incorporated in Pakistan has to create a reserve fund whereby a certain percentage of -- each year's-- profit is retained. Pakistan will also be required to ratify these rules in due course. The timeframe for the transaction is likely to put some pressure on smaller commercial banks. SBP's efforts to enhance minimum paidup capital have already run into snags mainly as smaller banks failed in abiding by the timeline. The fragile economy bearing the brunt of precarious law and order situation has gone feebler. Rising delinquencies can add to accumulated losses of already "red" banks. To save all the stakeholders, mergers and acquisitions as well as change of management in certain banks have become inevitable. The earlier the process is completed the better it will be for the banking sector and stakeholders.

Disclaimer:

All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.

Radical Islam in Central Asia Roman Kozhevnikov

S

hoira Shatmanova says her 21year-old son is embarrassed to be seen in public with her because she doesn't wear an Islamic headscarf. Born and raised when Tajikistan was part of the Soviet Union, she feels increasingly like an outsider in her own land. Her fear, like that of many in Tajikistan, is that a more radical interpretation of Islam in the Central Asian republic of 7.5 million people could prove fertile ground for homegrown militants filtering back across the border from Afghanistan. "I'm not in any way opposed to women wearing the hijab," said Shatmanova, a 53-year-old nurse. "I will only oppose it when these women and their husbands are against people like me -- and this is already happening." Chronic poverty and a Sovietstyle crackdown on religion is furthering the growth of radical Islam in parts of Central Asia, a secular but mainly Muslim region wedged between Russia, Iran, Afghanistan and China. Security analysts say Central Asian militants who have fought with the Taliban in Afghanistan could attempt to exploit political turmoil and ethnic divisions to gain a foothold in the Ferghana valley, where three former Soviet republics intertwine. In Kyrgyzstan, the interim government has struggled to control its volatile south since assuming power after an April revolt. Nearly 400 people were killed in savage clashes in June. Authorities in Tajikistan, where the average monthly wage is only $80, are also on alert after the country's first suicide bombing in five years was followed by an ambush on Sunday that killed at least 23 troops en route to guard its porous borders. "Any subversive movement will feel

tempted to check out how weak the regime is," Paul Quinn-Judge, the Bishkek-based Central Asia project director for the International Crisis Group, said. Tajikistan's response this year to a heightened threat of insurgency has been to jail more than 100 members of banned groups on charges of plotting to overthrowing the government. President I m o m a l i Rakhmon has recently criticised the growing fashion among women to eschew national costume in favour of the hijab and urged parents to withdraw their children from religious schools abroad, saying they would become "terrorists". ENERGISED BY INSURGENCY Tajikistan's government said foreign Islamist militants, including mercenaries from Pakistan, Afghanistan and Chechnya, were responsible for the ambush in the Rasht valley and also blamed warlords with whom it fought a civil war in the 1990s. By focusing attention on his former civil war opponents, Rakhmon has ignored the roots of a new Islamist militancy, said Christopher Langton, an independent regional specialist. "Rakhmon, encouraged by his Russian advisers, is content to follow a Soviet approach, which is heavyhanded and unlikely to address the real reasons for growing militancy," said Langton. "The seeds are sown in the unemployed young who have grown up since the Tajik civil war and who see

the way their parents have been repressed," he said. "These 'young' are energised by the ongoing insurgencies in Pakistan and Afghanistan." Orkhan Jemal, a Moscow-based politologist who has written about the region, says Tajikistan faces a dilem-

â&#x20AC;&#x153;

Security analysts say Central Asian militants who have fought with the Taliban in Afghanistan could attempt to exploit political turmoil and ethnic divisions to gain a foothold in the Ferghana valley, where three former Soviet republics intertwine ma: to ally with Russia, which helped Rakhmon win the civil war, or to appeal to US and British fears of a spreading Islamist insurgency. "I have the feeling that Russia will not be involved in aiding Tajikistan in the same way it did in the 1990s," he said, citing the Kremlin's reluctance to send troops to Kyrgyzstan. "On the other hand, you have the United States and its coalition fighting in Afghanistan, who feel huge unease over the rapid Islamisation of yet another country in the region." One threat to the region would be the return of the Islamic Movement of Uzbekistan (IMU), an al Qaeda-linked militant group whose exiled members have spent years fighting in Afghanistan. The IMU last month announced a new leader, Usman Adil, to replace Tahir Yuldashev, who was killed in August 2009 by a US drone missile near the Pakistan-Afghanistan border. "As long as they do not announce

that they have shifted plans to focus on Central Asia, Tajikistan and Kyrgyzstan will be sideshows for them," said Quinn-Judge. "Should, however, the IMU switch its strategy and declare all-out war in Central Asia, we would have a totally new situation on our hands." SECULAR VS ANTI-RELIGIOUS Khoji Akbar Turajonzoda, once a deputy leader of the Tajik United Opposition that fought against the government, does not believe there will be another civil war in Tajikistan. But the former supreme mufti says many Muslims have grown disaffected. "No matter the problem, Islamists get the blame," he said. "This only makes heroes of those who bring no good." Turajonzoda told Reuters he would support a secular state in the style of Malaysia, Indonesia or India. "I am not a supporter of Islamisation. I'm a supporter of a secular, but not an anti-religious, Tajikistan. Unfortunately, people here equate 'secular' with 'anti-religious'." Wearing the hijab in schools and colleges is forbidden. Shatmanova, however, says she swaps her Western fashions for conservative dress when visiting her parents in a low-rise district of her home town Tursunzoda, 50 km (30 miles) west of Dushanbe. She says she pretended to observe the Muslim fasting month of Ramadan this year for fear of scorn from her work colleagues. "Many people have left the republic," she says. "Not only Russians, from whom we inherited many of our traditional ways, but secular Tajiks and Uzbeks, who have left in search of good jobs, decent education and a better life." Her eldest daughter is among them. "She left for Moscow five years ago. She married a Russian. I'm very glad she can wear what she likes. She's a free person." -Reuters

Iran Infigthing M

a h m o u d Ahmadinejad's list of enemies is long, ranging from western governments to reformists at home and emerging rivals in his own hardline camp. But support from Iran's Revolutionary Guard and Supreme Leader Ayatollah Ali Khamenei still ensures him the upper hand. Discord among the hardline rulers in the Islamic Republic has never been so public. The rift has little to do with Iran's nuclear row with the West or with the pro-reform opposition, which rejects Ahmadinejad's 2009 re-election as rigged. So bad has the feuding become that Khamenei admonished faction leaders last month and made a public statement, flanked by Ahmadinejad and his main rivals, on the need for unity. As a former Guards officer, Ahmadinejad has valuable support among the elite corps and the volunteer Basij paramilitary force, which quelled the post-electoral anti-government unrest, the bloodiest protests in Iran in the past three decades. Some senior clerics accuse Ahmadinejad of undermining the historical role of the clergy in an Islamic state increasingly defined by the

raw political power and dense network of business interests of the Revolutionary Guards. It was the Guards who emerged as the biggest winners from last year's turmoil. Clerics played a key role in mobilising the masses that led to the 1979 Islamic revolution. Some say their role is being questioned, not explicitly but by the course of events. "The institution of the ... Guards has gradually eclipsed the institution of the clergy, in terms of their economic, political, and foreign policy influence," said Karim Sadjadpour, an associate at the Carnegie Endowment in Washington. "Iran is (now) more a military autocracy." It is Khamenei, though, who appoints top commanders of the corps, which has always been loyal to the leadership and to the pillars of the revolution. "I don't recall a single example of them being openly critical of Khamenei," said Sadjadpour.

"NATIONALISTIC THEMES" The opposition sees a "militarisation" of the state through the growing power of the Guards, whom the West accuses of promoting a nuclear and missile programme aimed at atomic arms. Tehran says it seeks only power stations.

national identity," said analyst Syrus Mashayekhi. "Ahmadinejad's aim is to win their votes." Sadjadpour said the presidential vote and its aftermath had undermined the "legitimacy and influence" of Iran's top leaders. "But Khamenei remains at the apex of Iran's power

Discord among the hardline rulers in the Islamic Republic has never been so public. The rift has little to do with Iran's nuclear row with the West or with the pro-reform opposition, which rejects Ahmadinejad's 2009 re-election as rigged. Ahmadinejad's resort to nationalistic themes has alienated some hardliners, contradicting principles set by revolutionary leader Ayatollah Ruhollah Khomeini such as the primacy of Islam. However, analysts say the nationalist approach was a tactic to widen electoral support for parliamentary polls next year. "He has lost the support of hardliners...Many Iranians have a strong sense of

pyramid," he said. "His modus operandi has been to rule over people (elites) who despise one another but are loyal to him." A delay in releasing one of 3 Americans held in Iran last year on spying charges was one symptom of factional rivalry. The judiciary unexpectedly blocked Ahmadinejad's intervention to free her, saying the legal process was incomplete. The head of the judiciary is a brother of parliament

speaker Ali Larijani, a leading conservative rival of Ahmadinejad. "The public discontent is increasing ... even some hardline people are losing their faith in the system," said a political analyst, who asked not to be named. Although the world's fifth largest oil exporter, Iran is finally feeling the pressure as a fourth round of international sanctions aimed at curbing its nuclear ambitions begins to bite. Ahmadinejad has a fight on his hands, facing popular discontent over high prices and inflation as well as criticism within the establishment over populist economic policies. The outcome of the rift may change Iran's approach to the outside world, analysts and Tehran-based diplomats said. "The rising power of the Guards may toughen Iran's approach regarding the nuclear impasse or other foreign policy matters," said a senior western diplomat, who asked not to be named. Analyst Reza Sehhat, however, sees changes in political calculation rather than goals. "It does not matter whether the president is a hardliner or a reformist ... major policies will remain the same ... but tactics may change," he said.-Reuters

China's South American Dream C

hina's conquistadores are blazing a trail into South America. Witness the mooted $7 billion investment by two Chinese state oil firms in Brazil's OGX, or talk of a Chinese bid for part of BP's Argentine joint venture, Pan American. At a recent investor forum, one Chinese executive even likened the continent to a new Africa. The colonial comparison is apt, but South America may be a less fulfilling El Dorado. Today's explorers aren't searching for gold, but for resources China needs to feed and house its 1.3 billion populace - notably iron, copper, and farmland. Previously trade was the chosen means of securing them, while investment remained paltry. Brazil has tripled its trade surplus with China to around $15 billion in four years. Copper-rich Chile followed a similar pattern.

Now direct investment is catching up. China is the biggest foreign investor in Brazil this year. Once capitalstarved Latin governments welcome the change:

the level of inflation. Venezuela and Brazil have both offered up oil flows for investment and loans. Chinese oil firm CNOOC paid $3.1 billion for half of

China's Latin love partly reflects rising barriers elsewhere. Canada, Australia and the United States have all erected defences around mined and agricultural resources, or threatened to; the United States has thrown a prot e c t i v e e m b r a c e around oil-rich Iraq. Latin America and Africa, by comparison, remain open for business. But South America's needs are different from Africa's. China has wooed countries like South Africa, Ghana, Kenya and Libya by building ports and

Today's explorers aren't searching for gold, but for resources China needs to feed and house its 1.3 billion populace notably iron, copper, and farmland. Previously trade was the chosen means of securing them, while investment remained paltry. Brazil has tripled its trade surplus with China to around $15 billion in four years. Copper-rich Chile followed a similar pattern. Brasilia, for example, has had to run interest rates double

Argentina's Bridas oil field in March.

railways, since what it lacks in resources it makes up for in infrastructure expertise and surplus labour. But South America has those already in abundance. That changes the calculus: the likes of Brazil would prefer a big chunk of China's $2.7 trillion foreign reserves. That is a path to overpaying for assets. Take OGX: the group controlled by Brazilian billionaire Eike Batista, has yet to produce a drop of oil. The more finite resources China buys at exuberant prices, the higher the premium sellers will demand. Japan learned that lesson when its 1980s foreign investment surge culminated in crazy bids for trophy assets like Rockefeller Center and Pebble Beach golf course. China's conquistadores have a clearer strategic goal, but they too may leave behind more treasure than they haul away.-Reuters


5

Wednesday, September 22, 2010

Philippines at new peak; Indonesia down KSE-100 Index Opening Closing Change % Change Turnover (mn)

KSE closes under 10k as institutions offload

10,063.58 9,992.50 71.08 0.71 88.47

LSE-25 Index Opening Closing Change % Change Turnover (mn)

3,164.48 3,131.10 33.38 1.05 3.79

ISE-10 Index Opening Closing Change % Change Turnover (mn)

2,577.88 2,563.91 13.97 0.54 0.21

Major Gainers

Symbol

Close

Change

UPFL DREL SIEM LAKST BATA

1,068.00 476.70 1,134.49 220.59 503.75

48.00 22.70 20.49 10.50 8.75

Major Losers

Symbol

Close

Change

RMPL 1,420.70 ULEVER 3,972.00 NESTLE 1,830.05 IDYM 249.49 FZTM 336.67

-54.3 -28 -26.3 -7.26 -6.59

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA SNGP WTL NPL DGKC

8.65 29.78 2.41 11.00 24.86

9.89 9.68 7.95 6.82 4.63

Active Issues Plus Minus Unchanged

121 245 22

Sector Updates FERTILISER 000 tonnes

Urea Offtake (Jan to July 10) 3,565 Urea Offtake (July 10) 580 Urea Price (Rs/50 kg) 879 DAP Offtake (Jan to July 09) 374 DAP Offtake (July 10) 49 DAP Price (Rs/50 kg) 2,626

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (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 CO Production (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 CAR

Caution ahead of Fed drags EU shares lower

Topline Securities said that no positive outcome on margin trading system (MTS) meeting along with expected rise in interest rates in upcoming monetary policy triggered selling in the market. The day started on a positive note at three points up. Positive activities managed to continue during the first one and quarter hours and index touched an intraday high of 10,119 points (+ve 55 points). However, some selling pressure arrived in the market as the meeting between SECP Chairman and KSE a day earlier didn't give a positive outcome. It should be noted that a

meeting of SECP chairman with KSE member directors and prominent brokers was held on Monday. Nevertheless, no timeline about the launch of the system was debunked, forcing the investors to offload. Therefore, all the gains were wiped out and index went down into the negative zone. Then after showing some resistance index finally stayed in the bearish territory breaching its psychological barrier of 10,000 levels and at about 3:15 PST it touched its lowest level of the day of 9,980 (ve 82 points). On the other side the tense law and order situa-

tion in the city was also the factor that kept the investor nervous. Finally, index ended the session just near its lowest levels. "Press release that clearly missed the timeline of MTS implementation, disallowed the initial bull-run. Deteriorating law and order situation, gloomy economic and financial environment, and weakening local currency kept the sellers from local circuit active with a view of partial recovery on dips," said an equity dealer at a local brokerage house. Foreign investors however were mainly on the buying side as according to NCCPL there was a net for-

Indian shares climb holding on to thick vols

US stocks mid-morning

Nawaz Ali KARACHI: Selling by the local institutional investors took the Karachi Stock Exchange (KSE) below 10,000 on Tuesday as investors offloaded their positions because of no major outcome of the KSESECP meeting and fears of expected increase in interest rates. The benchmark KSE 100index fell 71 points, 0.71 per cent, to 9,992 points, KSE 30-index dipped 113 points, 1.16 per cent, to 9,712 points and KSE all-share index skidded 48 points, 0.7 per cent, to 6,980 points. Furqan Punjani, analyst at

MUMBAI: Buoyant Indian shares cruised past 20,000 points on Tuesday for the first time in 32 months, but there were signs of fatigue after the market had climbed for 10 of the last 11 sessions. The 30-share BSE index rose 0.48 per cent or 95.45 points to 20,001.55, with 14 of its components gaining. More than two shares declined for every share that gained in the broader market in relatively higher volume of 503 million shares. The 50-share NSE index rose 0.5 per cent to 6,009.05 points. A tidal wave of foreign buying, triggered by the country's robust economic growth while the developed world struggles with a slowdown, has made Indian equities the preferred destination for global investors. However, after rallying 11.3 per cent this month investors

are eager to lock in profits and the possibility of consolidation is growing. "Clearly, the pace at which the rally has been happening over last 15 days is unsustainable. But broadly the longerterm or medium-term bullish direction is going to be maintained," said Raamdeo Agrawal, cofounder and director of Motilal Oswal Financial Services. Six of the bluechips -- Tata Consultancy Services, Infosys Technologies, ITC, Tata Motors Mahindra & Mahindra and HDFC Bank -- hit all-time highs. Finance Secretary Ashok Chawla told reporters in New Delhi that there were no signs of overheating in the market. "The Securities Exchange Board of India are watching the capital markets. There is no

cause for worry or anxiety at this point in time," he said on television channel CNBCTV18. A Reuters poll of 21 market participants conducted last week had expected the BSE index to touch 20,080 by end2010, and the market's exuberance has caused unease among some investors. "We are cautious on the market right now. Valuations may be stretched after the sharp run up," said Om Ahuja, head of private wealth management at Emkay Global. "Huge foreign money is flowing in but retail investors are either not participating or going short." Analysts are, however, optimistic about the outlook for foreign inflows. BNP Paribas Securities said the potential for See # 11 Page 11

Shanghai up in low turnover

Production (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

HK off 5-month high

DEWAN FAROOQ MOTORS

HONG KONG/SHANGHAI: Shares in Hong Kong edged up to a five-month high on Tuesday, supported by property picks, while Shanghai shares ticked higher in light volume ahead of a long public holiday. Both Hang Seng Index and the Shanghai Composite Index rose 0.1 per cent. The Hong Kong intraday peak and close were the highest levels since April 15. Shanghai stocks edged up to close at 2,591.6. Hong Kong property shares were boosted by news that developer Sun Hung Kai Properties will maintain its 2011 property sales forecast despite concerns that authorities might take further measures to curb prices. Housing prices in Hong Kong have risen 45 per cent since the beginning of last year prompting the local government to roll out damping measures although recent land auction prices have suggested demand remains strong. Wharf Holdings rose 2.6 per cent while Cheung Kong Holdings was up 2.3 per cent. Sun Hung Kai shares were up 0.7 per cent. "The concern over the government measures last month was a little overdone," said

Production (July 09 to June 10)1,218 Sales (July 09 to June 10) 1,371 Production (July 10) 41 Sales (July 10) 40

BANKING SECTOR Scheduled 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) MS (July 10) Kerosene (Jul 09 to June 10) Kerosene (July 10) JP (Jul 09 to June 10) JP (July 10) HSD (Jul 09 to June 10) HSD (July 10) LDO (Jul 09 to June 10) LDO (July 10) Fuel Oil (Jul 09 to June 10) Fuel Oil (July 10) Others (Jul 09 to June 10) Others (July 10)

PRICES (Ex-Refinery) MS (1 Sep 10) MS (1 Aug 10) MS % Chg Kerosene (1 Sep 10) Kerosene (1 Aug 10) Kerosene % Chg JP-1 (1 Sep 10) JP-1 (1 Aug 10) JP-1 % Chg HSD (1 Sep 10) HSD (1 Aug 10) HSD % Chg LDO (1 Sep 10) LDO (1 Aug 10) LDO % Chg Fuel Oil (1 Sep 10) Fuel Oil (1 Aug 10)

1,933 188 164 15 1,377 129 7,435 664 75 7 9,259 869 13 1

Rs 40.85 41.22 -0.90% 47.14 46.55 1.27% 47.37 46.78 1.26% 50.61 49.63 1.97% 46.37 45.29 2.38% 39,932 39,723

Cusson Leung, head of property research at Credit Suisse in Hong Kong. "Short term measures will have a short-term impact. I think the government realised this and is rightly focusing on increasing the supply of land while letting developers decide how to use the land," said Leung. Credit Suisse recommends investors continue switching out of Hong Kong utilities and into local developers. Hong Kong Exchanges & Clearing (HKEx) fell one per cent as investors cashed in recent gains in the stock on the back of a pickup in trading activity and a robust IPO pipeline. HKEx shares have risen 15.3 per cent this month to be the third highest gainer on the Hang Seng. Hengdeli Holdings Ltd slumped six per cent after the company said it would raise HK$2.5 billion ($322 million) via a convertible bond offering. The new shares issued from the bond would represent just over 10 per cent of the enlarged share capital and the news follows an announcement in August by the firm that it planned to sell just over HK$1

billion in new shares. The small-cap index CSI500 is up 8.6 per cent since the start of August compared with a 1.7 per cent drop on the Shanghai Composite index. Markets are closed Sept 22-24, Oct 1 and Oct 4-7. Property shares were mixed after local media reported China may impose a property tax early next year. Several analysts said they were sceptical. "They have spoken about it for so long, in the near term it won't happen. There is a small possibility the tax will be implemented in China, but this is all still talk," said Wang Aochao, analyst at UOB Kay Hian in Shanghai. China Vanke Co Ltd gained one per cent. Nanjing Chixia Development Co Ltd rose 3.5 per cent, while Gemdale Corp slipped 0.2 per cent. Pharmaceuticals continued to weigh on the index, with investors taking profit after the sector's large gains over the past month. Zhongzhu Holding Co Ltd dropped 7.4 per cent, while Hangzhou Tian-Mu-Shan Pharmaceutical Enterprise dropped 3.9 per cent. ($=6.71) -Reuters

ANNOUNCEMENTS Company Salfi Textile Tata Textile Mills Island Textile Allied Rental AL-Noor Modaraba ECOPACK Ltd

Period Yearly Yearly Yearly Yearly Yearly Yearly

Div/Bon/Right 25%D 25%D 50%D 22.5%D 5%D

PAT (Rs in mn) 305.929 440.6 178.435 277.973 11.034 -18.393

EPS(Rs) 91.53 25.43 356.87 4.63 0.53 -0.8

Mkt slips ahead of Fed meet NEW YORK: Stocks slipped on Tuesday as caution before the Federal Reserve's monetary policy meeting overshadowed positive US housing data. Investors paused a day after the S&P 500 broke through a key technical range to close at a four-month high. The S&P 500 has gained about nine per cent in the last four weeks. The Fed is expected to renew a promise to keep its portfolio from shrinking but not take any steps to ease monetary policy. Some investors believe a string of positive economic data has given the Fed room for maneuver. "The latest incoming data gives the Fed a little bit more leeway," said Alan Lancz, president of Alan B Lancz & Associates Inc in Toledo, Ohio. "Any economic projections or the breakdown in the vote of the committee members will be what most investors will be looking at." The Dow Jones industrial average slipped 7.95 points, See # 10 Page 11

eign buying of $0.65 million on Tuesday. On the local side, companies and banks did a net selling of $1.77 and $1.28 million respectively while mutual funds and individual investors did a net buying of $1.04 and $0.63 million respectively. Investor participation saw some improvement as 88.4 million shares were traded in the overall market, 23.4 million shares more as compared to a turnover of 65 million shares a day earlier. Out of total 388 active issues, 245 declined and 121 advanced while 22 issues remained unchanged.

UKâ&#x20AC;&#x2122;s FTSE loses 0.5pc, eyeing Fed LONDON: Britain's leading shares faltered by the close on Tuesday as investors lost their nerve ahead of news from the US Federal Reserve, with banks and miners the biggest fallers. The Fed appears set to debate pumping billions of dollars more into the sluggish US economy, but is likely to hold off any action while it takes further readings on the health of the recovery. The FTSE 100 closed down 26.35 points, or 0.5 per cent, at 5,576.19, well off the session high of 5,635.72. It had gained 1.7 per cent on Monday, when the index closed at its highest level since late April. FTSE volumes were light, however, at just 70 per cent of their holiday-thinned 90-day average. Banks, which enjoyed good gains in the previous session, edged back as investors became See # 8 Page 11

Tokyo shares slide by 0.3pc TOKYO: Nikkei edged briefly to a seven-week intraday high on Tuesday before falling into negative territory in the face of profit-taking, with the dollar's struggles against the yen weighing on sentiment. The Nikkei hit a seven-week intraday high of 9,704.25 but ended down 0.3 per cent or 23.98 points at 9,602.11. The broader Topix also lost 0.3 per cent, to 849.94. Trade was thin, with 1.5 billion shares changing hands on the Tokyo exchange's first section. Declining shares outnumbered advancing ones, 893 to 596. Kyorin soared on a report that generics drug maker Sawai Pharmaceutical Co wants to acquire it while Canon climbed after a report that strong demand has prompted it to plan a new overseas inkjet printer plant. While market players said losses would be limited by strong gains in US stocks and the yen's retreat from 15-year highs against the dollar after Japan intervened last week to weaken the Japanese currency, the market was vulnerable to

profit-taking. "The intervention helped boost the Nikkei last week but fundamentally nothing's changed either in the US or Japanese economy," said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities. "The fact that Japan did the intervention on its own also means there are limits to the long-term impact." The Nikkei briefly edged above resistance near 9,660, which is right around the top of the cloud on daily Ichimoku charts. A clear break of that level would be a bullish sign. But otherwise, chart signals were mixed. The Nikkei's relative strength index (RSI) stood at 61, with anything from 70 and above oversold, while its slow stochastic dipped. "Some short-term technical indicators suggest overheating, but I think medium- and longterm investors are still buying, and this is limited losses," said Masayoshi Okamoto, head of dealing at Jujiya Securities. See # 9 Page 11

Dhiyan

DO DAY TRADING Iqbal Ismail, ACE Securities Range bound activities are expected in the market in the short-term while market will gradually improve in the long-term. Investors are therefore advised to do day trading. They can also invest for long term in oil stocks. No change in the interest rates in the upcoming monetary policy will trigger the market. Negative activities will be continued in the market today.

Khalid Iqbal Siddiqui, Invest & Finance Market is likely to be weak in the coming days due to expectations of rise in interest rates and because of no progress on margin trading system. Therefore, we can see a decline of 2 to 3 per cent while volumes will also remain low. Investors should not be panic if they have positions while for new investments they should wait for dips. They can invest in power and OMC (if turnover tax is reversed) sectors and in Pakistan Oil fields. Market will show weak activities today.


6

Wednesday, September 22, 2010

Market Volume

88,467,940

Value

KSE 100 Index

Symbols

2,641,853,239.57

Trades

47,127

Advanced Declined Unchanged Total

Current High Low Change

121 245 22 388

All Share Index

9,992.50 10,119.55 9,981.07 i71.08

Current High Low Change

6,980.58 7,068.84 6,976.14 i48.95

OIL AND GAS

Company

Paid up Cap(mn)

Attock Petroleum Attock Refinery BYCO Petroleum Mari Gas Company National Refinery Oil & Gas Development XD Pak PetroleumXDXB Pak Oilfields Pak Refinery Limited P.S.O XD Shell Gas LPG Shell Pakistan XD

PE

High Low 1,256.40 1,238.28 Total cos Defaulter cos P/BV (x) ROE (%) 4.00 37.01

Open

High

Low

576 5.85 328.72 853 9.35 85.43 3921 - 10.96 735 16.66 123.53 800 6.07 200.79 43009 10.08 145.92 11950 5.42 174.52 2365 6.93 238.21 350 - 61.92 1715 4.48 265.98 226 13.60 30.14 685 9.98 195.84

329.50 85.95 11.12 125.85 200.74 146.69 175.65 239.00 65.01 269.54 31.59 197.00

323.00 83.05 10.55 122.50 199.00 145.21 172.50 234.26 61.70 264.01 30.16 194.00

Close Chg 324.08 83.38 10.59 122.94 199.11 146.08 172.95 234.78 65.01 264.76 30.20 194.65

-4.64 -2.05 -0.37 -0.59 -1.68 0.16 -1.57 -3.43 3.09 -1.22 0.06 -1.19

Current High Low Change

KMI 30 Index Current High Low Change

9,712.43 9,855.70 9,701.95 i113.63

15,653.45 15,860.18 15,625.79 i86.59

Last 60 days High Low

Volume 58461 473085 840511 62481 2433 689690 953392 711178 19714 788083 1119 4062

330.51 93.60 13.05 138.45 207.00 153.00 214.10 240.01 82.00 289.45 40.60 244.00

% Change -0.40 5-Day High 1,248.72 5-Day Low 1,233.70

2009 Div BR (%) (%)

2010 Div BR (%) (%)

281.00 250 73.47 9.62 112.80 32.17 100B 182.01 125 133.00 82.5 172.50 130 20B 209.99 180 48.26 233.10 50 27.32 190.00 330 -

100 31 55 90 80 80 40

20B -

CHEMICALS

Company

Paid up Cap(mn)

Open 708.70 Turnover 21,010 P/E (x) 5.66 Company

Paid up Cap(mn)

Pak Int Cont. Terminal XD 1092 PNSC 1321

High Low 716.97 683.79 Total cos Defaulter cos P/BV (x) ROE (%) 1.44 25.53

PE

Open

High

Low

8.27 5.32

69.08 38.92

70.10 39.00

66.00 38.70

Close Chg 67.42 39.00

-1.66 0.08

Close 696.08 Listed cap 3,242.17 mn Payout (%) 11.08

Change -12.61 Market cap 12,763.33 mn Div Yield (%) 1.96

Volume

Last 60 days High Low

3560 17450

87.86 41.74

66.00 34.50

Agritech Limited Bawany Air BOC (Pak) XD Clariant Pak Dawood Hercules Descon Chemical Descon Oxychem Ltd. Dewan Salman Engro Corp. LtdSPOT Engro Polymer Fatima Fertilizer Fauji Fertilizer XD Fauji Fert.Bin Qasim XD Gatron Ind Ghani Gases Ltd ICI Pakistan XD Lotte Pakistan Nimir Ind Chemical Shaffi Chemical Sitara Peroxide United Distributors Wah-Noble

Open

High

Low

3924 68 1.21 250 9.54 273 5.59 1203 7.82 1996 1020 3663 3277 9.14 6635 22000 6785 7.14 9341 6.95 384 3.73 725 1388 7.15 15142 3.00 1106 72.00 120 1.24 551 92 3.38 90 4.63

24.00 11.99 75.89 162.00 172.00 2.20 4.14 1.51 179.58 12.24 9.55 105.83 27.67 41.80 9.61 123.98 8.80 1.50 2.72 8.94 16.50 45.11

24.40 12.63 77.90 162.80 173.99 2.65 4.40 1.51 180.25 12.25 10.20 106.00 27.90 43.89 10.61 124.00 9.07 1.54 2.65 8.90 17.40 45.79

22.80 11.16 75.00 158.50 169.10 2.10 3.96 1.45 177.95 12.10 9.50 104.95 27.27 39.98 9.80 119.50 8.60 1.42 2.60 8.60 15.70 45.10

Close Chg 23.98 11.89 75.00 159.00 169.51 2.14 4.01 1.49 178.28 12.10 10.01 105.01 27.32 39.98 10.55 119.95 8.65 1.44 2.60 8.66 15.70 45.15

-0.02 -0.10 -0.89 -3.00 -2.49 -0.06 -0.13 -0.02 -1.30 -0.14 0.46 -0.82 -0.35 -1.82 0.94 -4.03 -0.15 -0.06 -0.12 -0.28 -0.80 0.04

Close 1,139.55 Listed cap 52,251.88 mn Payout (%) 48.81

Change -11.96 Market cap 258,719.49 mn Div Yield (%) 6.86

Last 60 days High Low

Volume 102 202 14625 390 5137 5407 12731 315603 549582 155229 536936 455614 433179 831 510882 376696 9890743 163335 503 16494 201 605

27.79 16.78 82.50 174.00 185.88 3.15 5.45 2.21 194.59 12.75 12.80 113.39 30.65 48.30 11.45 128.30 9.09 1.81 3.80 11.09 17.99 48.00

% Change -1.04 5-Day High 1,151.55 5-Day Low 1,139.55

2009 Div BR (%) (%)

2010 Div BR (%) (%)

21.15 10.06 66.90 90 146.00 125 155.38 40 10B 1.78 3.20 1.41 165.60 6010B 40R 9.57 - 27.5R 9.02 102.75 131.5 10B 25.70 40 36.80 7.41 109.50 80 6.75 5 1.16 2.00 8.22 14.00 10 10B 41.10 50 -

15 20 20 75 5 20 55 -

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,197.89 Turnover 51,598 P/E (x) 6.32 Company

High Low 1,216.88 1,180.93 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47

Close 1,193.07 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 38 411

6.15 4.73

20.86 59.51 39.61

20.95 61.90 40.49

20.25 58.55 39.60

20.47 -0.39 59.06 -0.45 40.00 0.39

37294 12389 1915

Century Paper Pak Paper Product Security Paper

Change -4.81 Market cap 3,322.11 mn Div Yield (%) 4.00

Last 60 days High Low 22.70 61.90 50.40

15.76 41.21 38.50

% Change -0.40 5-Day High 1,213.46 5-Day Low 1,193.07

2009 Div BR (%) (%)

2010 Div BR (%) (%)

- 425R 20 50 -

25 33.33B 50 -a

Open 1,075.22 Turnover 287,945 P/E (x) 4.04 Paid up Cap(mn)

Agriautos Ind Atlas BatteryXDXB Dewan Motors Exide (PAK) General Tyre XD Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus MotorsSPOT Pak Suzuki Sazgar Engineering Transmission

PE

Open

144 5.11 71.35 101 5.28 142.13 890 1.35 56 4.43 153.35 598 6.25 23.55 450 5.57 200 10.00 4.40 1428 - 11.39 786 5.29 229.88 823 9.30 77.00 125 4.98 26.50 117 3.64 2.25

Company

Paid up Cap(mn)

Crescent Steel XD Dost Steels Ltd Huffaz Pipe International IndXDXB Siddiqsons Tin

565 675 555 1199 785

PE 3.39 5.79 4.84 6.60

Open 24.90 2.20 14.00 50.98 9.90

High 25.00 2.27 14.20 50.99 10.80

Low 24.75 2.10 13.60 49.75 9.30

Close Chg 25.00 2.10 13.83 49.75 9.31

0.10 -0.10 -0.17 -1.23 -0.59

Close 984.79 Listed cap 3,596.11 mn Payout (%) 30.91

Change -18.27 Market cap 9,357.86 mn Div Yield (%) 10.04

Last 60 days High Low

Volume 19544 5500 3707 25526 1044

31.73 3.20 16.00 70.71 11.25

24.30 1.90 13.00 48.51 8.20

2009 Div BR (%) (%) 10

30B -

% Change -1.82 5-Day High 1,022.93 5-Day Low 984.79

High

High Low 1,092.48 1,057.63 Total cos Defaulter cos P/BV (x) ROE (%) 1.03 25.35 Low

Close Chg

Company

Paid up Cap(mn)

Abdullah Shah Ghazi Sugar Adam Sugar AL-Noor Sugar Faran Sugar Habib Sugar Habib-ADM Ltd Hussein Sugar Ismail Ind J D W Sugar Mehran Sugar XD Mirpurkhas Sugar National Foods Noon Sugar Premier Sugar Punjab Oil Quice Food Shak(RCPf)8.5 Perc Shakarganj Mills

793 58 186 217 600 200 121 505 490 143 70 414 165 38 38 107 346 695

PE 14.42 0.63 4.32 2.75 6.16 4.49 12.24 2.21 2.97 6.16 25.16 6.72 5.28 -

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Berger Paints Bestway Cement Cherat Cement Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Flying Cement Ltd Gharibwal Cement Haydery Const Javedan Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement

High Low 943.46 899.99 Total cos Defaulter cos P/BV (x) ROE (%) 0.55 7.10

PE

Open

High

Low

1828 866 4.89 182 3257 956 982 11.69 948 3574 3651 34.53 350 6933 12.63 1760 2319 32 581 1288 13126 3234 6.28 3723 2228 200 361 798 -

3.44 69.09 16.98 23.99 11.59 1.57 2.15 1.45 24.96 3.44 5.25 2.08 2.68 1.05 56.13 6.19 2.96 71.13 3.20 7.96 7.85 10.10 19.00

3.69 69.45 17.85 25.18 11.40 1.78 1.65 1.45 25.68 3.44 5.35 2.06 3.03 1.23 58.93 6.23 3.12 72.26 3.25 8.47 8.35 9.81 20.00

3.36 68.55 17.00 22.80 10.75 1.30 1.65 1.30 24.76 2.70 5.01 1.90 2.11 0.86 56.05 6.12 2.86 69.75 3.06 7.95 6.90 9.81 19.00

Close 912.47 Listed cap 54,792.74 mn Payout (%) 19.04

Close Chg

Volume

Last 60 days High Low

3.36 68.99 17.48 24.99 10.90 1.52 1.65 1.34 24.86 3.44 5.05 1.90 2.96 1.07 57.76 6.18 2.91 69.95 3.06 7.98 7.40 9.81 20.00

35053 280027 26085 1066 7006 1617 397 111992 4630030 2005 408455 91105 124180 619 4100 71560 1003715 619254 177428 59534 7507 1000 422151

4.69 72.40 20.00 25.18 12.50 2.74 3.90 2.20 28.74 5.15 5.50 2.37 7.60 2.00 66.10 7.38 3.53 73.88 3.84 8.47 9.47 12.23 21.80

-0.08 -0.10 0.50 1.00 -0.69 -0.05 -0.50 -0.11 -0.10 0.00 -0.20 -0.18 0.28 0.02 1.63 -0.01 -0.05 -1.18 -0.14 0.02 -0.45 -0.29 1.00

2.82 63.00 15.42 10.50 8.90 1.30 1.02 1.30 23.02 2.40 4.50 1.75 2.11 0.85 56.05 5.70 2.60 61.29 3.00 5.60 5.50 8.10 17.74

% Change -0.79 5-Day High 944.67 5-Day Low 912.47

2009 Div BR (%) (%)

2010 Div BR (%) (%)

50 20B - 20R - 200R 40 -

17.5 - 122R - 20R 40 -

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 894.58 Turnover 251,450 P/E (x) 2.60 Company

Paid up Cap(mn)

Cherat Papersack ECOPACK Ltd Ghani Glass Packages Ltd Siemens Engineering Tri-Pack Films

PE

Open

High

High Low 914.31 884.51 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 43.91 Low

Close Chg

92 4.53 48.56 48.60 47.20 47.51 -1.05 230 2.00 2.18 1.90 1.96 -0.04 970 6.14 59.49 60.45 59.90 60.00 0.51 844 16.56 107.14 110.00 105.00 109.28 2.14 82 10.11 1114.00 1146.00 1105.00 1134.49 20.49 300 7.94 100.00 100.00 97.90 98.90 -1.10

Close 905.68 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 47973 76710 33086 87221 103 6343

Change 11.10 Market cap 33,400.44 mn Div Yield (%) 5.97

Last 60 days High Low 51.05 2.89 61.50 125.96 1299.75 105.00

28.87 1.85 54.65 105.00 981.00 91.00

% Change 1.24 5-Day High 906.91 5-Day Low 894.58

2009 Div BR (%) (%)

2010 Div BR (%) (%)

30 32.5 900 100

20 25 300 -

10B -

25B 10B -

INDUSTRIAL ENGINEERING

Company

Paid up Cap(mn)

Ados Pak AL-Ghazi Tractor XD Bolan Casting Dewan Auto Engineering Ghandhara Ind Hinopak Motor KSB Pumps Millat Tractors

66 215 95 214 213 124 132 293

PE

Open

2.96 20.68 5.08 212.53 8.41 46.40 0.50 2.48 18.31 - 115.00 7.97 80.50 7.50 577.30

High

High Low 1,456.76 1,411.31 Total cos Defaulter cos P/BV (x) ROE (%) 3.37 38.02 Low

Close 1,434.71 Listed cap 1,336.62 mn Payout (%) 131.49

Close Chg

Volume

Close 1,068.66 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change -6.55 Market cap 39,481.54 mn Div Yield (%) 5.05

Last 60 days High Low

20.01 20.00 20.00 -0.68 214.30 212.00 213.99 1.46 46.90 45.25 46.50 0.10 0.50 0.50 0.50 0.00 18.80 17.56 17.66 -0.65 120.75 120.00 120.00 5.00 80.00 80.00 80.00 -0.50 595.99 577.00 585.28 7.98

320 13852 3210 1000 7309 123 1797 271285

22.69 226.10 46.90 0.98 20.24 166.14 91.00 597.90

2972 78.39 1984 209.00 21301 2.24 120 177.99 803 28.80 27600 6.60 1371 5.70 10600 14.50 14097 287.00 12229 89.99 11377 27.85 183322 3.35

63.01 140.00 1.16 121.10 21.10 4.75 3.65 10.05 212.29 73.50 23.58 1.61

% Change -0.61 5-Day High 1,075.22 5-Day Low 1,060.46

2009 Div BR (%) (%)

2010 Div BR (%) (%)

40 100 50 100 5 2

90 100 60 20 150 -

20B 20B -

20B -

6.62 11.60 41.90 16.05 28.95 16.15 8.05 72.88 65.93 53.25 60.00 55.34 11.50 38.20 37.10 2.25 4.52 4.00

High 7.62 11.98 43.00 17.05 29.90 16.98 9.05 72.90 65.93 53.50 62.15 56.80 11.12 36.60 38.95 2.20 3.71 3.80

High Low 1,495.66 1,430.69 Total cos Defaulter cos P/BV (x) ROE (%) 9.55 30.30 Low 6.25 11.90 41.90 17.00 28.99 16.00 9.00 69.24 65.93 53.00 58.00 52.58 11.11 36.60 38.95 2.15 3.52 3.80

Close Chg 7.50 11.90 42.54 17.05 29.88 16.00 9.05 71.99 65.93 53.00 58.60 52.58 11.12 36.60 38.95 2.15 3.71 3.80

0.88 0.30 0.64 1.00 0.93 -0.15 1.00 -0.89 0.00 -0.25 -1.40 -2.76 -0.38 -1.60 1.85 -0.10 -0.81 -0.20

Close 1,437.19 Listed cap 11,335.33 mn Payout (%) 30.57

Volume 23596 550 1000 1707 53282 1564 1028 2545 500 500 206 26662 253 295 500 2500 1976 5000

Change -14.22 Market cap 184,687.65 mn Div Yield (%) 0.97

Last 60 days High Low 7.62 14.75 47.35 23.50 29.90 16.98 9.10 76.90 67.90 58.74 68.13 65.29 14.35 43.60 38.95 3.00 9.42 5.16

1.12 10.50 32.87 13.51 22.50 13.00 4.22 53.64 60.10 50.07 41.85 41.35 10.00 36.00 32.80 1.60 2.51 3.02

% Change -0.98 5-Day High 1,451.41 5-Day Low 1,437.19

2009 Div BR (%) (%) 10 40 17.5 35 40 15 40 35 25 50 30 15 -

2010 Div BR (%) (%)

25B 30B 10B 25B 10B 25B -

40 17.5 110R 0 12.5R 25 10 12 -

Company

High Low 1,053.42 1,011.40 Total cos Defaulter cos P/BV (x) ROE (%) 0.32 10.64

Close 1,016.27 Listed cap 3,763.71 mn Payout (%) 6.27

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

1174 231

2.97 2.77

14.63 17.98

14.90 18.80

13.85 16.98

13.89 -0.74 17.02 -0.96

254959 7281

Pak Elektron Tariq Glass Ind XD

Change -23.70 Market cap 5,420.74 mn Div Yield (%) 2.09

2009 Div BR (%) (%)

18.90 20 195.00 400 35.25 0.36 15.26 108.11 17.15 61.57 35 466.00 450

20B 25B

Last 60 days High Low 15.95 19.12

11.20 13.50

2009 Div BR (%) (%) -

2010 Div BR (%) (%)

10B -

17.5

10B -

PERSONAL GOODS Performance of SR Personal Goods Index Open 925.75 Turnover 8,587,679 P/E (x) 5.95 Paid up Cap(mn)

Ali Asghar Textile AL-Qadir Textile Al-Qaim Textile Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen Blessed Tex Mills Brothers Textile Chakwal Spinning Chenab Limited Colony Mills Ltd Crescent Jute Crescent Textile D S Ind Ltd Data Textile Dawood Lawrencepur Din Textile Ellcot Spinning Gadoon Textile Ghani Value Glass Gulistan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Indus Dyeing Island Textile Janana D Mal Kohinoor Ind Kohinoor Mills Kohinoor Textile Masood Textile Mehmood Textile Mohd Farooq Mukhtar Textile Nagina Cotton Nishat (Chunian) Nishat Mills Quetta Textile Ravi Textile Reliance Weaving Rupali Poly Salfi Textile Sana Ind Saritow Spinning Service Fabrics Service Ind Shahpur Textile Shahtaj Textile Suraj Cotton Tata Textile Thal Limited XD Treet Corp Yousuf Weaving Zil Limited

PE

Open

222 1.33 76 8.63 5.49 75 0.50 2415 4.75 17.92 840 5.83 20.11 4493 261.50 10.67 29 3.13 12.50 76 9.60 64 1.06 45.00 98 0.73 400 1.26 1.19 1150 3.55 2442 2.36 3.09 238 0.74 492 3.05 19.81 600 1.69 99 0.32 514 9.93 43.22 185 1.86 29.50 110 1.63 23.31 234 1.43 39.66 75 11.41 37.50 146 2.02 5.20 716 1.51 4.31 3105 3.32 36.55 99 0.58 3.90 181 3.30 256.75 5 0.22 75.90 43 16.88 12.55 303 1.63 509 2.65 1455 3.63 5.99 600 0.99 20.75 150 2.40 63.23 189 1.18 145 0.35 187 1.83 16.40 1586 2.96 16.97 3516 5.54 48.76 130 1.58 36.28 250 4.46 1.79 308 1.17 9.50 341 8.25 33.27 33 0.28 25.86 55 5.30 35.94 133 0.57 1.80 158 0.35 120 4.93 190.66 140 1.18 0.86 97 2.82 17.20 180 1.48 34.88 173 0.73 19.50 256 5.15 104.67 418 0.51 40.72 400 1.51 1.20 53 9.23 40.27

High

High Low 928.94 914.64 Total cos Defaulter cos P/BV (x) ROE (%) 0.51 8.64 Low

Close Chg

1.99 1.70 1.70 0.37 4.50 4.49 4.49 -1.00 0.90 0.50 0.50 0.00 18.14 17.65 17.76 -0.16 20.55 20.00 20.00 -0.11 10.95 10.40 10.46 -0.21 13.49 13.49 13.49 0.99 10.00 9.00 10.00 0.40 43.10 42.80 42.93 -2.07 0.70 0.31 0.50 -0.23 2.00 0.80 1.27 0.08 3.95 3.42 3.50 -0.05 2.90 2.31 2.81 -0.28 0.93 0.70 0.76 0.02 19.55 19.51 19.53 -0.28 1.74 1.60 1.61 -0.08 0.75 0.32 0.32 0.00 42.99 41.06 41.50 -1.72 30.55 29.00 29.99 0.49 24.47 23.75 23.75 0.44 40.40 38.90 39.00 -0.66 38.00 36.30 38.00 0.50 6.00 5.89 5.95 0.75 4.50 4.09 4.23 -0.08 37.98 36.10 36.11 -0.44 3.05 3.01 3.01 -0.89 269.50 245.00 249.49 -7.26 79.69 79.69 79.69 3.79 13.50 13.50 13.50 0.95 1.60 1.51 1.59 -0.04 2.50 2.50 2.50 -0.15 6.00 5.85 5.85 -0.14 20.99 20.00 20.99 0.24 62.00 62.00 62.00 -1.23 1.00 1.00 1.00 -0.18 0.54 0.36 0.52 0.17 15.76 15.50 15.75 -0.65 17.20 15.97 15.99 -0.98 49.00 47.00 47.12 -1.64 34.47 34.47 34.47 -1.81 1.90 1.50 1.74 -0.05 9.50 9.49 9.49 -0.01 33.75 33.70 33.75 0.48 27.15 24.57 25.94 0.08 36.39 35.50 35.51 -0.43 2.49 1.10 2.49 0.69 0.24 0.24 0.24 -0.11 194.75 190.00 191.50 0.84 1.05 0.81 0.85 -0.01 18.20 17.98 18.03 0.83 35.35 33.14 33.14 -1.74 18.55 18.50 18.50 -1.00 106.48 104.00 104.06 -0.61 40.85 40.10 40.17 -0.55 1.10 0.96 1.10 -0.10 42.28 39.00 42.16 1.89

Close 918.53 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change -7.23 Market cap 115,000.75 mn Div Yield (%) 2.81

Last 60 days High Low

300 2.21 345 8.40 75500 0.90 184069 20.45 1400 21.59 1735080 13.40 2000 16.75 3632 10.50 2099 49.40 6026 1.50 2107 2.30 61991 5.10 29700 5.00 16017 2.25 1000 28.60 6204 2.65 3101 0.96 6197 52.28 6001 32.30 2605 25.30 1102 44.50 2000 38.64 3000 7.00 32506 4.61 637 41.00 5281 4.79 1220 269.50 105 83.12 475 16.25 20251 2.00 1453 3.99 8001 6.30 610 23.25 300 74.50 831 1.90 17650 0.99 12824 16.50 2836416 19.49 1886491 53.14 4900 52.29 1496275 7.40 2000 10.68 505 36.35 20150 27.15 9234 38.00 101 2.80 5000 1.17 4275 240.99 31501 2.26 695 21.50 1019 36.20 8571 19.70 13307 114.99 10709 49.49 974 1.90 1402 46.12

0.20 1.50 0.50 10.42 17.55 8.55 9.50 7.50 36.15 0.10 0.55 2.85 2.23 0.48 19.51 1.50 0.20 37.08 23.10 19.35 32.11 26.00 4.51 2.52 33.35 1.69 185.38 70.10 9.95 1.10 1.60 4.00 19.15 46.00 0.51 0.26 11.00 14.64 40.81 22.76 1.50 6.91 31.35 16.50 27.25 1.01 0.15 176.50 0.25 14.15 29.50 12.35 91.50 37.20 0.73 33.00

% Change -0.78 5-Day High 927.26 5-Day Low 918.53

2009 Div BR (%) (%)

2010 Div BR (%) (%)

20 7.5 7.5 8 400R - 10B 15 15 4050.2257B - 50R 20 - 632R 40 35 200 20 15 20 20B 40 10B

30 5 50 - 100R 25 45R 25 60 25 20 -

Performance of SR Pharma and Bio Tech Index

% Change 1.13 5-Day High 1,434.71 5-Day Low 1,412.20

Open 828.45 Turnover 60,785 P/E (x) 6.49

2010 Div BR (%) (%)

Company

150 650

Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Searle Pak Wyeth Pak

25B

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

40.14

Total Assets (Rs in mn)

17,566.02

MA (10-day)

2.48

Total Equity (Rs in mn)

11,379.05

MA (100-day)

3.13

Revenue (Rs in mn)

MA (200-day)

3.74

Interest Expense

1st Support

2.36

Loss after Taxation

2nd Support

2.28

EPS 09 (Rs)

1st Resistance

2.53

Book value / share (Rs)

2nd Resistance

2.62

PE 10 E (x)

Pivot

2.45

PBV (x)

8,408.28 523.03 (490.82) (0.570) 13.22 0.18

WTL closed down -0.04 at 2.41. Volume was 381 per cent above average (trending) and Bollinger Bands were 56 per cent narrower than normal. The company's loss after taxation stood at Rs410.586 million which translates into a Loss Per Share of Rs0.48 for the half year of current calendar year (1HCY10). WTL is currently 35.4 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of WTL (mildly bearish). Trend forecasting oscillators are currently bearish on WTL.

Ravi Textile Mills Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

29.15

Total Assets (Rs in mn)

MA (10-day)

1.98

Total Equity (Rs in mn)

MA (100-day)

5.49

Revenue (Rs in mn)

MA (200-day)

8.99

Interest Expense

437.02

1st Support

1.50

Profit after Taxation

2nd Support

1.30

EPS 09 (Rs)

1st Resistance

1.90

Book value / share (Rs)

2nd Resistance

2.10

PE 10 E (x)

4.50

Pivot

1.70

PBV (x)

0.58

75.13 316.78 12.51 0.24 0.01 3.01

RAVT closed down -0.05 at 1.74. Volume was 225 per cent above average (trending) and Bollinger Bands were 84 per cent narrower than normal. The company's profit after taxation stood at Rs7.167 million which translates into an Earning Per Share of Rs0.29 for the nine months of fiscal year (9MFY10). RAVT is currently 80.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of RAVT (mildly bearish). Trend forecasting oscillators are currently bearish on RAVT. Momentum oscillator is currently indicating that RAVT is currently in an oversold condition.

Japan Power Generation Limited

% Change -2.28 5-Day High 1,069.25 5-Day Low 962.16

PHARMA AND BIO TECH

Change 16.04 Market cap 31,591.58 mn Div Yield (%) 14.85

Last 60 days High Low

Open

Open 1,039.97 Turnover 262,383 P/E (x) 3.00

Performance of SR Industrial Engineering Index Open 1,418.67 Turnover 298,951 P/E (x) 8.86

-

Performance of SR Household Goods Index

Company

Change -7.29 Market cap 68,489.29 mn Div Yield (%) 2.48

40 15

HOUSEHOLD GOODS

CONSTRUCTION AND MATERIALS Open 919.77 Turnover 8,078,479 P/E (x) 7.69

71.80 69.10 70.00 -1.35 142.00 140.00 140.14 -1.99 1.49 1.28 1.32 -0.03 154.97 154.80 154.80 1.45 24.60 22.80 22.80 -0.75 5.70 5.30 5.47 -0.10 4.48 4.20 4.40 0.00 11.45 10.80 11.33 -0.06 234.44 229.17 231.83 1.95 77.85 74.71 74.88 -2.12 26.80 26.29 26.47 -0.03 3.25 1.66 2.04 -0.21

Open 1,451.41 Turnover 123,910 P/E (x) 31.53

20B -

Performance of SR Construction and Materials Index

2010 Div BR (%) (%)

20B -

FOOD PRODUCERS

2010 Div BR (%) (%) 30 40 -

30

Performance of SR Food Producers Index

Performance of SR Industrial Metals and Mining Index High Low 1,017.03 980.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.02 33.10

2009 Div BR (%) (%)

Performance of SR Automobile and Parts Index

INDUSTRIAL METALS AND MINING Open 1,003.06 Turnover 55,321 P/E (x) 3.08

% Change -1.78 5-Day High 721.60 5-Day Low 696.08

AUTOMOBILE AND PARTS

Company

High Low 1,157.59 1,137.26 Total cos Defaulter cos P/BV (x) ROE (%) 2.49 35.00

PE

WorldCall Telecom Limited

Performance of SR Industrial Transportation Index

Close Change 1,243.68 -5.04 Listed cap Market cap 65,194.15 mn 1,007,078.48 mn Payout (%) Div Yield (%) 68.56 6.35

Performance of SR Chemicals Index Open 1,151.51 Turnover 12,902,709 P/E (x) 7.12

Alert ! Unusual Movements

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,248.72 Turnover 3,290,613 P/E (x) 10.80

KSE 30 Index

Paid up Cap(mn) 979 208 1707 165 200 306 142

PE

Open

7.86 89.26 6.86 105.87 12.38 68.49 6.52 24.20 7.67 5.72 63.26 - 940.00

High

High Low 836.52 818.42 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 22.31 Low

Close Chg

90.00 89.00 89.64 0.38 110.00 102.50 104.48 -1.39 68.65 67.77 68.57 0.08 24.50 24.00 24.00 -0.20 8.10 8.00 8.00 0.33 64.00 61.55 61.80 -1.46 940.00 939.99 940.00 0.00

Close 825.62 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 8170 3621 14860 16240 156 17633 105

Change -2.83 Market cap 27,864.19 mn Div Yield (%) 6.86

Last 60 days High Low 95.50 124.00 84.27 25.79 8.66 64.05 1159.00

77.00 96.00 65.40 22.10 6.10 53.36 890.00

2009 Div BR (%) (%) 120 10 50 25 15 -

20B 15B -

% Change -0.34 5-Day High 828.45 5-Day Low 816.72 2010 Div BR (%) (%) 20 -

20B -

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

38.85

Total Assets (Rs in mn)

MA (10-day)

1.53

Total Equity (Rs in mn)

(612.73)

MA (100-day)

1.92

Revenue (Rs in mn)

3,505.76

MA (200-day)

2.27

Interest Expense

6,429.63

1st Support

1.39

Loss after Taxation

2nd Support

1.34

EPS 09 (Rs)

1st Resistance

1.50

Book value / share (Rs)

2nd Resistance

1.56

PE 10 E (x)

Pivot

1.45

PBV (x)

760.24 (592.51) (3.797) (3.93) (0.36)

JPGL closed down -0.13 at 1.41. Volume was 58 per cent above average and Bollinger Bands were 42 per cent narrower than normal. 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 37.9 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 JPGL (mildly bullish). Trend forecasting oscillators are currently bullish on JPGL.

Karachi Electric Supply Corp Ltd

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

42.03

Total Assets (Rs in mn)

MA (10-day)

2.09

Total Equity (Rs in mn)

MA (100-day)

2.35

Revenue (Rs in mn)

MA (200-day)

2.63

Interest Expense

1st Support

1.94

Loss after Taxation

2nd Support

1.89

EPS 09 (Rs)

1st Resistance

2.05

Book value / share (Rs)

2nd Resistance

2.11

PE 10 E (x)

Pivot

2.00

PBV (x)

130,784.14 (8,737.47) 85,224.08 5,619.80 (15,484.94) (1.176) (0.66) (3.03)

KESC closed down -0.04 at 2.01. Volume was 29 per cent above average and Bollinger Bands were 57 per cent narrower than normal. The company's loss after taxation stood at Rs14.621 billion which translates into a Loss Per Share of Rs0.74 for the year ended FY10. KESC is currently 23.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of KESC at a relatively equal pace. Trend forecasting oscillators are currently bearish on KESC.

BOOK CLOSURES Company

From

To

Husein Sugar Mills # Pakistan State Oil Bank of Punjab Engro Corp (Consolidated) First Prudential Modaraba JS Investments Pakistan Hotels Developments Standard Chartered Mod Unilever Pak Foods Indus Motor Ittehad Chemical Arif Habib Cap Asst Leasing Corp Eye Television Network # Kohinoor Power # Pak Int Cont Terminal Pak Int Cont Terminal (Pref) Adamjee Insurance Shifa Int Hospitals Sana Industries Millat Tractors Atlas Engineering Descon Chemicals

22-Sep 22-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 24-Sep 24-Sep 25-Sep 26-Sep 29-Sep 29-Sep 29-Sep 29-Sep 30-Sep 1-Oct 2-Oct 4-Oct 5-Oct 6-Oct

28-Sep 29-Sep 29-Sep 30-Sep 30-Sep 30-Sep 30-Sep 1-Oct 29-Sep 30-Sep 30-Sep 2-Oct 2-Oct 5-Oct 5-Oct 6-Oct 6-Oct 6-Oct 7-Oct 9-Oct 15-Oct 11-Oct 12-Oct

D/B/R 20(I) 17 350(I) 100(F) 5 20(B) 25(F) 10(F) 10(I) 15(F) 60 350(F),25(B) -

Spot AGM/Date 15-Sep 15-Sep 16-Sep 16-Sep 17-Sep 21-Sep 21-Sep 22-Sep -

29-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 2-Oct 2-Oct 30-Sep 29-Sep 6-Oct 7-Oct 9-Oct 15-Oct 11-Oct 12-Oct

INDICATIONS # Extraordinary General Meeting

OTHER SECTORS Symbols Pakistan CablesXD TRG Pakistan Ltd. Grays of Cambridge Lakson Tobacco Pak Tobacco Eye Television P.I.A.C.(A) AKD Capital Pace (Pak) Ltd. Netsol Technol.

Open 52 3.68 60.55 210.09 111 21.96 2.13 43.47 2.6 19.08

High 54.5 3.85 58.05 220.59 114.97 22 2.23 44.5 2.64 19.47

Low Close 51.2 3.6 57.96 202 110.3 21.5 2.07 41.3 2.53 18.92

54.4 3.62 58 220.59 113.95 21.95 2.07 41.42 2.55 19

Change 2.4 -0.06 -2.55 10.5 2.95 -0.01 -0.06 -2.05 -0.05 -0.08

Vol 3886 797261 403 59926 902 5928 54232 7276 153921 506194


7

Wednesday, September 22, 2010

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,100.44 Turnover 8,894,710 P/E (x) 6.00 Paid up Cap(mn)

Company

Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd

37740 3000 8606 6175

High Low 1,108.70 1,081.76 Total cos Defaulter cos P/BV (x) ROE (%) 0.77 12.84

PE

Open

High

Low

Close Chg

8.90 -

18.93 2.16 2.45 4.11

19.00 2.26 2.54 4.10

18.62 2.09 2.37 4.02

18.68 2.10 2.41 4.02

-0.25 -0.06 -0.04 -0.09

Close 1,086.05 Listed cap 50,077.79 mn Payout (%) 62.56

Volume 707613 237782 7949314 39229

Change -14.39 Market cap 76,580.36 mn Div Yield (%) 10.42

Last 60 days High Low 20.22 3.18 3.30 6.49

% Change -1.31 5-Day High 1,110.71 5-Day Low 1,086.05

2009 Div BR (%) (%)

17.20 2.06 2.30 3.80

15 -

-

Atlas Insurance 369 4.53 Central InsuranceXDXB 279 5.28 EFU General Ins. XB 1250 30.75 Habib Insurance 400 7.65 IGI Insurance XD 718 12.64 Pak Reinsurance 3000 PICIC Ins Ltd 350 53.25 Premier Insurance 303 5.02 Silver Star Insurance 253 1.62

Open 843.84 Turnover 5,685 P/E (x) 87.38

Performance of SR Electricity Index

Paid up Cap(mn)

Company

High Low 1,163.45 1,140.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.21 9.35

PE

Open

High

Low

Altern Energy 3426 574.50 Genertech 198 Hub Power XD 11572 6.21 Japan Power 1560 KESC 7932 Kohinoor Energy 1695 4.77 Kohinoor Power 126 2.97 Kot Addu Power 8803 7.26 Nishat Chunian Power Ltd 3673 Nishat Power Ltd 3541 78.57 Sitara Energy Ltd 191 3.69 Southern Electric 1367 1.25 Tri-star Power XD 150 -

11.50 0.85 33.44 1.54 2.05 24.78 5.80 42.56 10.64 11.53 21.62 2.75 0.85

11.49 0.97 33.65 1.51 2.06 25.48 5.50 42.60 10.90 11.73 22.00 2.85 1.25

10.50 0.66 33.36 1.40 1.95 24.50 5.35 41.80 10.50 10.80 22.00 2.60 0.70

Close 1,150.02 Listed cap 95,369.29 mn Payout (%) 104.13

Change -5.53 Market cap 97,303.26 mn Div Yield (%) 8.04

Close Chg

Volume

Last 60 days High Low

11.49 0.80 33.51 1.41 2.01 24.51 5.35 41.97 10.52 11.00 22.00 2.60 1.13

3001 35892 1370841 140797 535117 56000 947 537141 773044 6815579 200 87562 6001

12.50 1.53 37.24 2.38 2.63 26.65 7.00 44.85 10.90 11.85 23.48 3.21 1.69

-0.01 -0.05 0.07 -0.13 -0.04 -0.27 -0.45 -0.59 -0.12 -0.53 0.38 -0.15 0.28

7.51 0.51 31.50 0.70 1.92 23.00 3.90 39.51 8.60 9.25 20.00 2.21 0.33

% Change -0.48 5-Day High 1,160.74 5-Day Low 1,150.02

2009 Div BR (%) (%) 33.5 45 64.5 20 3

31R -

GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,424.20 Turnover 10,405,592 P/E (x) 10.66 Paid up Cap(mn)

Company Sui North Gas Sui South Gas

High Low 1,492.97 1,406.54 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 11.41

Close 1,471.11 Listed cap 12,202.80 mn Payout (%) 66.79

Change 46.91 Market cap 33,044.46 mn Div Yield (%) 6.26

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 17.52 6712 -

29.54 23.69

30.90 24.87

28.80 23.60

29.78 0.24 24.87 1.18

9676353 729239

30.90 24.87

% Change 3.29 5-Day High 1,471.11 5-Day Low 1,330.42

2009 Div BR (%) (%)

25.00 15.80

-

2010 Div BR (%) (%)

-

-

-

BANKS

Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 5.59 52.26 Askari Bank 6427 6.09 15.02 Atlas Bank 5001 1.87 Bank Alfalah 13492 10.76 8.25 Bank AL-Habib 7322 6.58 30.60 Bank Of Khyber 5004 3.12 3.12 Bank Of Punjab 5288 8.83 BankIslami Pak 5280 3.48 Faysal Bank 6091 3.12 13.82 Habib Bank Ltd 10019 6.10 96.81 Habib Metropolitan Bank 8732 5.79 19.40 JS Bank Ltd 6128 2.36 KASB Bank Ltd 9509 2.40 MCB Bank Ltd XD 7602 8.68 190.93 Meezan Bank 6983 7.26 14.95 Mybank Ltd 5304 2.24 National Bank 13455 5.45 66.50 NIB Bank 40437 2.75 Samba Bank 14335 1.95 Silkbank Ltd 9003 12.32 2.73 Soneri Bank 6023 5.77 Stand Chart Bank 38716 9.71 6.90 Summit Bank Ltd 5000 2.75 United Bank Ltd 12242 6.06 52.84

High

High Low Close 964.65 931.93 935.99 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.91 13.45 34.35 Low

Close Chg

52.50 51.75 51.75 -0.51 15.35 14.70 14.74 -0.28 2.04 1.85 1.88 0.01 8.34 8.02 8.07 -0.18 31.14 30.51 30.54 -0.06 3.30 3.11 3.12 0.00 8.98 8.60 8.63 -0.20 3.49 3.25 3.25 -0.23 14.00 13.50 13.56 -0.26 97.40 94.50 94.79 -2.02 20.00 19.52 19.56 0.16 2.50 2.32 2.44 0.08 2.49 2.25 2.31 -0.09 192.50 185.80 186.18 -4.75 15.00 14.53 14.95 0.00 2.20 2.06 2.18 -0.06 66.85 64.55 64.92 -1.58 2.77 2.70 2.72 -0.03 2.04 1.81 1.83 -0.12 2.76 2.70 2.71 -0.02 5.85 5.55 5.61 -0.16 6.80 6.80 6.80 -0.10 2.85 2.58 2.65 -0.10 53.15 51.01 51.50 -1.34

Volume

Change -19.15 Market cap 577,824.48 mn Div Yield (%) 5.06

Last 60 days High Low

67210 59.70 343644 17.46 8100 3.00 977805 10.25 60500 34.00 20897 4.75 1007357 11.24 17445 3.90 148210 15.95 50731 109.10 5037 24.25 298795 3.00 5307 4.40 618659 214.99 24359 16.50 69767 3.28 1340523 73.89 513220 3.50 2193 2.90 383295 3.30 13738 8.50 18202 8.50 26780 4.38 2757133 60.20

48.51 13.99 1.52 7.32 29.10 3.00 7.35 2.31 12.75 92.00 18.70 2.00 2.03 180.40 13.80 1.62 60.51 2.42 1.55 2.15 5.46 6.05 2.40 51.01

2009 Div BR (%) (%) 40 8 20 60 10 110 75 25

10B 20B 20B 10B 16B 26B 10B 5B 25B 10B

Performance of SR Non Life Insurance Index

Paid up Cap(mn)

Company Adamjee Insurance

High Low 651.36 629.75 Total cos Defaulter cos P/BV (x) ROE (%) 0.54 5.20

Close 634.83 Listed cap 11,111.34 mn Payout (%) 79.54

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 12.61

70.71

71.34

69.10

69.37 -1.34

164218

89.90

2009 Div BR (%) (%)

64.00

30

10B

8121 1020 22461 10100 113829 171895 6388 14129 4101

31.00 64.90 55.20 13.89 79.10 19.40 4.16 10.60 10.00

27.10 48.05 35.52 10.78 66.02 12.50 1.66 8.11 6.00

40 20 40 35 35 30 20 -

10B 25B 8.7B 15B 20B

10 10 -

UPTO 100 VOLUME

10B 20B -

Symbols UNIC GSPM ATLH BAFS SLYT AASM COLG BUXL EWLA ESBL BWHL PECO SHFA SING FNEL COTT MUREB MTIL BATA JKSM UPFL PRWM RMPL SMTM CLOV SCL TSML FZTM NESTLE MACFL PNGRS SANSM DADX BIFO ULEVER BGL IGIBL SITC MODAM CSUML MDTL MWMP RBS KSTM PGCL PHDL FTSM SLCL NOPK FRCL KCL DIIL ASFL TSMF FCONM SPLC ICIBL UVIC AZAMT DWTM HAJT JATM SANE NCLNCP GATM MOON SHJS TICL SGPL JOPP PAKD LPGL MERIT GLPL MFFL DREL

High Low 869.65 840.16 Total cos Defaulter cos P/BV (x) ROE (%) 3.36 3.85

Close 843.76 Listed cap 2,290.72 mn Payout (%) 355.53

Change -0.08 Market cap 8,976.76 mn Div Yield (%) 4.07

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

61.90 43.17

62.90 44.88

60.01 43.50

60.84 -1.06 43.50 0.33

5418 192

84.99 46.00

% Change -0.01 5-Day High 843.84 5-Day Low 826.03

2009 Div BR (%) (%)

51.25 34.50

2010 Div BR (%) (%)

5513.33B 10 -

-

-

Performance of SR Financial Services Index Open 373.07 Turnover 8,477,183 P/E (x) 0.46

High Low 379.41 359.71 Total cos Defaulter cos P/BV (x) ROE (%) 0.17 37.22

Close 363.59 Listed cap 30,336.44 mn Payout (%) 4.60

Change -9.48 Market cap 26,675.58 mn Div Yield (%) 9.90

PE

Open

High

Low

Close Chg

225

-

0.71

0.74

0.60

0.60 -0.11

514605

1.19

0.55

-

-

-

-

Arif Habib Invest. XB 360 Arif Habib LimitedSPOT 375

7.01 8.25

15.37 33.56

15.25 34.00

15.00 33.00

15.00 -0.37 33.10 -0.46

30526 69649

20.99 50.12

14.26 26.80

15

25B

-

20B 20B

Arif Habib Securities Arpak Int

3750 40

2.23 -

23.57 9.94

23.86 10.25

22.45 8.94

22.58 -0.99 8.94 -1.00

2963594 713

35.65 29.14

21.76 8.94

-

-

30 -

-

150

6.16

1.06

1.74

1.00

1.17 0.11

5012

3.30

0.50

-

-

-

-

Dawood Equities Invest and Fin Sec

250 600

2.79

2.05 7.02

2.21 8.02

1.78 7.08

2.21 0.16 8.02 1.00

1505 113103

3.36 8.50

1.55 6.80

-

-

11.5

-

Ist Cap Securities

2878

-

4.00

4.00

3.71

3.97 -0.03

14538

5.90

3.10

-

10B

-

-

Ist Dawood Bank Jah Siddiq Co

626 7633 14.65

1.58 10.37

1.68 10.55

1.50 10.10

1.65 0.07 10.11 -0.26

60001 2527411

1.95 15.47

1.17 9.36

-243.778B 10

-

-

3.26 38.01

3.36 38.45

2.89 36.80

2.92 -0.34 36.86 -1.15

2017862 6397

6.48 42.40

2.89 33.33

150

-

-

-

JS Investment

1000 13.20

6.00

6.20

5.91

5.94 -0.06

57019

8.65

5.40

-

-

-

-

KASB Securities Orix Leasing

1000 821

-

3.61 5.30

3.95 5.70

3.60 5.06

3.73 0.12 5.22 -0.08

212 30862

5.49 5.99

3.20 3.66

-

-

-

-

775 978 586

4.77 -

1.62 2.64 2.50

1.68 2.44 2.50

1.51 2.01 2.50

1.54 -0.08 2.10 -0.54 2.50 0.00

58525 1015 4500

2.89 3.89 4.25

1.35 1.41 1.55

-231.08R -

-

-

AMZ Ventures

Dawood Cap Mang.XB

JOV and CO JS Global Cap

508 500

Last 60 days High Low

% Change -2.54 5-Day High 376.60 5-Day Low 363.59

Paid up Cap(mn)

Company

Volume

2009 Div BR (%) (%)

2010 Div BR (%) (%)

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,003.17 Turnover 2,263,398 P/E (x) 6.77

High Low 1,033.51 998.46 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 4.09

Close 1,013.04 Listed cap 29,771.58 mn Payout (%) 183.19

Change 9.87 Market cap 17,380.98 mn Div Yield (%) 27.05

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

264

-

1.40

1.40

1.40

1.40 0.00

359

2.23

1.01

-

-

-

-

Allied Rental

600

3.35

15.25

16.23

15.50

15.50 0.25

3500

16.23

12.50

15

-

22.5

-

AL-Meezan Mutual F.

Last 60 days High Low

% Change 0.98 5-Day High 1,013.04 5-Day Low 995.42

1st Fid Leasing

Company

Volume

2009 Div BR (%) (%)

2010 Div BR (%) (%)

Open 5.49 7.00 99.20 54.00 3.95 29.49 717.13 13.19 2.25 2.80 31.61 299.80 33.95 21.05 10.75 1.50 88.52 0.79 495.00 6.42 1020.00 19.50 1475.00 6.24 36.90 58.88 32.21 343.26 1856.35 3.10 5.20 14.00 23.65 33.60 4000.00 1.50 1.73 122.80 1.15 3.45 55.10 1.93 6.22 0.75 19.19 63.91 4.00 2.40 24.70 2.88 6.47 17.49 2.80 1.05 2.34 0.69 0.67 3.50 1.76 5.00 0.60 3.10 2.00 20.00 20.69 12.40 47.01 61.00 0.67 9.18 112.50 10.00 14.89 68.00 65.99 454.00

High 5.49 6.75 98.65 51.50 4.15 28.25 743.00 13.85 2.80 2.99 33.15 300.00 34.50 21.90 9.75 1.99 88.52 0.80 503.75 7.25 1071.00 19.00 1445.00 5.61 38.74 55.98 32.90 360.00 1890.00 3.30 5.00 13.94 24.83 34.00 4200.00 1.86 1.85 123.00 1.22 3.75 57.80 1.90 6.49 1.20 19.48 63.91 4.79 2.40 25.40 2.88 5.47 18.49 3.80 1.97 2.86 0.60 0.75 3.70 1.99 4.05 0.35 2.10 1.75 20.39 21.65 12.80 46.26 64.00 0.41 10.18 114.25 10.00 15.35 68.00 68.16 476.70

Low

Close

5.49 6.75 98.65 51.50 3.36 28.25 720.00 12.19 2.80 2.80 30.03 285.19 34.29 20.00 9.75 1.92 86.15 0.10 497.25 6.00 1020.07 18.52 1401.76 5.61 38.74 55.98 30.60 330.40 1826.05 2.55 5.00 13.94 23.19 34.00 3952.00 1.86 1.65 120.01 1.22 3.45 56.00 1.40 6.30 0.40 19.41 60.72 4.00 2.40 23.70 2.88 5.47 17.40 3.80 1.90 2.85 0.60 0.69 3.70 1.99 4.00 0.31 2.10 1.75 20.39 21.65 12.50 46.26 64.00 0.40 10.18 114.25 10.00 15.35 68.00 68.16 476.70

5.49 6.75 98.65 51.50 3.95 28.25 721.00 12.99 2.80 2.80 30.56 299.69 34.29 21.00 9.75 1.92 88.29 0.34 503.75 6.46 1068.00 18.81 1420.70 5.61 38.74 55.98 32.14 336.67 1830.05 2.88 5.00 13.94 23.19 34.00 3972.00 1.86 1.74 120.51 1.22 3.75 57.80 1.88 6.40 0.80 19.43 60.72 4.00 2.40 23.70 2.88 5.47 17.40 3.80 1.90 2.85 0.60 0.69 3.70 1.99 4.05 0.35 2.10 1.75 20.39 21.65 12.50 46.26 64.00 0.41 10.18 114.25 10.00 15.35 68.00 68.16 476.70

Change

Vol

0.00 -0.25 -0.55 -2.50 0.00 -1.24 3.87 -0.20 0.55 0.00 -1.05 -0.11 0.34 -0.05 -1.00 0.42 -0.23 -0.45 8.75 0.04 48.00 -0.69 -54.30 -0.63 1.84 -2.90 -0.07 -6.59 -26.30 -0.22 -0.20 -0.06 -0.46 0.40 -28.00 0.36 0.01 -2.29 0.07 0.30 2.70 -0.05 0.18 0.05 0.24 -3.19 0.00 0.00 -1.00 0.00 -1.00 -0.09 1.00 0.85 0.51 -0.09 0.02 0.20 0.23 -0.95 -0.25 -1.00 -0.25 0.39 0.96 0.10 -0.75 3.00 -0.26 1.00 1.75 0.00 0.46 0.00 2.17 22.70

100 100 100 99 97 90 89 76 75 71 69 55 55 51 50 50 49 36 35 34 30 25 24 22 20 19 18 15 15 13 10 10 10 10 10 10 9 6 5 5 5 5 4 4 3 3 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS Symbols

Open

High

Low

Close

DGKC-SEP

24.99

25.65

24.80

24.96

-0.03 507,500

NML-SEP

48.86

49.00

47.00

47.15

-1.71 343,500

DGKC-OCT

25.11

25.80

25.00

25.04

Change

-0.07 306,500

Vol

1375

2.70

6.87

7.03

6.72

7.00 0.13

76780

7.25

6.35

-

-

18.5

-

AL-Noor Modaraba

210

6.04

3.20

3.20

2.55

3.20 0.00

4500

3.49

2.10

-

-

5

-

NBP-SEP

66.47

66.86

64.67

64.89

-1.58 245,000

Atlas Fund of Funds

525

1.98

3.75

3.51

3.50

3.50 -0.25

1100

4.99

2.53

-

-

-

-

PSO-SEP

264.99

268.30

262.61

262.95

-2.04 233,500

B R R Guardian Mod.

780

-

1.23

1.24

1.11

1.14 -0.09

2001

2.43

0.90

-

-

-

-

MCB-SEP

191.27

192.45

186.02

186.32

Crescent St Modaraba

200

1.74

0.46

0.58

0.47

0.47 0.01

156

0.90

0.16

-

-

-

-

POL-SEP

238.44

238.98

234.55

234.92

PPL-SEP

174.03

175.00

172.25

172.39

-1.64 169,500

Elite Cap Modaraba

113

3.73

2.65

2.65

2.65

2.65 0.00

1700

3.59

1.60

4.5

-

-

-

ANL-SEP

10.63

10.95

10.46

10.48

-0.15 118,000

Equity Modaraba

524

9.08

1.04

1.18

1.18

1.18 0.14

601

1.68

0.76

-

-

-

-

NBP-OCT

67.75

66.80

64.70

64.80

-2.95

First Capital Mutual F.

300

2.90

2.20

2.70

2.10

2.70 0.50

358136

3.00

0.99

-

-

-

-

MCB-OCT

191.19

192.00

185.99

186.13

First Dawood Mutual F.

581

-

1.75

1.75

1.70

1.75 0.00

8502

2.09

1.00

-

-

-

-

ANL-OCT

Golden Arrow

760

3.91

3.56

3.65

3.50

3.60 0.04

841576

3.74

2.32

-

-

17

-

H B L Modaraba

397

4.93

5.75

6.00

5.84

5.91 0.16

2000

6.49

4.80

5

-

-

-

PTC-SEP

18.98

18.70

Habib Modaraba

1008

4.61

6.14

6.13

6.13

6.13 -0.01

501

7.49

5.56

20

-

21

-

POL-OCT

238.98

239.00

JS Growth Fund

3180 40.25

3.18

3.25

3.20

3.22 0.04

26598

4.39

2.70

-

-

5

-

NML-OCT

47.50

48.75

45.50

JS Value Fund

1186

-

2.99

3.18

2.85

2.86 -0.13

20351

3.98

2.31

10

-

10

-

LUCK-SEP

283

1.90

1.23

1.35

1.17

1.35 0.12

2504

2.44

0.52

-

-

-

-

PPL-OCT

KASB Modaraba

Change -11.88 Market cap 41,186.01 mn Div Yield (%) 7.68

-0.07 -0.99 -1.26 -0.93 0.41 -0.46 -0.22 0.63 -0.28

850 33.07 627 54.38

2010 Div BR (%) (%) 20 - 66R 55 -63.46R 10 -

30.68 51.01 38.75 11.01 71.54 13.87 2.13 9.63 6.53

FINANCIAL SERVICES

% Change -2.00 5-Day High 965.55 5-Day Low 935.99

NON LIFE INSURANCE Open 646.71 Turnover 516,363 P/E (x) 10.36

EFU Life Assurance XB New Jub Life Insurance

Pervez Ahmed Sec Stand Chart Leasing Trust Inv Bank

Performance of SR Banks Index Open 955.14 Turnover 8,752,131 P/E (x) 6.79

Paid up Cap(mn)

Company

2010 Div BR (%) (%) 50 - 7.8R 50 -

29.25 50.01 38.50 11.01 71.00 13.80 1.66 8.60 6.50

Performance of SR Life Insurance Index

-

ELECTRICITY Open 1,155.55 Turnover 10,362,123 P/E (x) 12.95

30.68 52.00 40.46 11.90 72.00 14.43 2.20 9.75 7.00

LIFE INSURANCE

2010 Div BR (%) (%) 17.5 -

30.75 52.00 40.01 11.94 71.13 14.33 2.35 9.00 6.81

-4.95 213,500 -3.52 198,500

97,000

-5.06

84,000

10.65

10.90

10.55

10.55

-0.10

75,500

ENGRO-SEP 177.05

177.25

175.27

175.48

-1.57

PSO-OCT

268.20

262.00

262.04

-3.29

71,000

18.70

18.70

-0.28

60,000

235.00

235.14

-3.84

52,500

45.74

-1.76

52,000 43,500

265.33

74,000

70.80

71.44

70.00

70.02

-0.78

174.02

174.90

172.26

172.63

-1.39

38,000

-1.44

34,000

% Change -1.84 5-Day High 646.71 5-Day Low 634.42

Nat Bank Modaraba

250

7.04

7.63

7.75

7.49

7.60 -0.03

500

8.45

6.10

-

-

-

-

AICL-SEP

70.77

71.40

69.10

69.33

OGDC-SEP

145.45

145.50

144.55

145.02

-0.43

27,500

Pak Prem Fund XD

1698

3.43

7.30

8.00

7.06

7.20 -0.10

72754

9.86

7.03

-

-

18.6

-

LUCK-OCT

72.47

71.00

67.51

67.55

-4.92

23,500

Pak Strat Fund

3000

5.10

6.51

6.55

6.51

6.53 0.02

275000

8.10

6.01

-

- 11.53

-

ENGRO-OCT 176.99

176.70

175.00

175.00

-1.99

20,500

PICIC Energy Fund

1000

2.54

4.55

4.84

4.55

4.78 0.23

1025

6.49

4.00

-

-

5

-

OGDC-OCT 145.50

145.00

144.00

144.00

-1.50

PICIC Growth Fund

2835

2.37

8.83

8.91

8.60

8.63 -0.20

18867

10.55

7.60

-

-

20

-

BOP-OCT

9.00

9.00

8.85

8.85

-0.15

6,000

19.29

19.00

19.00

19.00

-0.29

5,000

2010 Div BR (%) (%)

PICIC Inv Fund XD

PTC-OCT NCL-SEP

17.02

17.10

17.10

17.10

0.08

2,500

UBL-SEP

53.00

52.15

52.15

52.15

-0.85

2,000

106.12

106.12

106.12

106.12

0.00

2,000

68.51

68.51

68.51

-3.53

10

-

2841

1.98

3.80

4.00

3.80

3.92 0.12

435257

5.00

3.50

-

-

10

-

Prud Modaraba 1stSPOT 872

2.74

1.10

1.10

1.01

1.04 -0.06

43501

1.20

0.70

-

-

3

-

489

2.00

0.57

-

-

-

-

FFC-SEP

10.99

8.25

16.5

-

17

-

AICL-OCT

Punjab Modaraba

340

-

0.82

1.20

1.19

1.19 0.37

Stand Chart Mod. SPOT

454

5.75

10.27

10.25

10.10

10.12 -0.15

65130

72.04

8,000

500

BOARD MEETINGS

Dera Ghazi Khan Cement Co Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

54.81

Support 1

9,942.55

MA (5-day)

10,034.55

Support 2

9,892.55

MA (10-day)

9,948.87

Resistance 1

10,081.00

MA (100-day)

9,905.58

Resistance 2

10,169.50

9,885.11

Pivot

Rs Recommendations

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

44

Buy

*Arif Habib Ltd

77

Buy

*Arif Habib Ltd

AKD Securities Ltd

44.13

Buy

AKD Securities Ltd

63

Accumulate

AKD Securities Ltd

TFD Research

36.85

Positive

TFD Research

Positive

TFD Research

*Arif Habib Ltd

Technical Outlook Technical Analysis

RSI (14-day) MA (10-day) MA (100-day) per cent above average and Bollinger Bands were 17 per cent narrower MA (200-day) MA (200-day)

Fair Value

Nishat Mills Ltd

United Bank Ltd

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

182.55 4,538.18 29.28 25.07

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

Leverage Position

33.18 54.02 55.10 58.71

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

65

Rs Recommendations Buy

61.46

306.04 15,761.31 1.10 52.13

Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

175.80 8,283.69 24.85 47.97

than normal. As far as resistance level is concern, the market will see * Target price for Dec-10 & **Net Open Interest in future market * Target price for Dec-10 & **Net Open Interest in future market * Target price for Dec-10 & **Net Open Interest in future market major 1st resistance level at 10,081.00 and 2nd resistance level at DGKC closed down -0.10 at 24.86. Volume was 67 per cent above averUBL closed down -1.34 at 51.50. Volume was 240 per cent above average NML closed down -1.64 at 47.12. Volume was 16 per cent below average age and Bollinger Bands were 31 per cent narrower than normal. (trending) and Bollinger Bands were 39 per cent narrower than normal. and Bollinger Bands were 11 per cent narrower than normal. DGKC is currently 10.3 per cent below its 200-day moving average and is UBL is currently 12.3 per cent below its 200-day moving average and is NML is currently 13.2 per cent below its 200-day moving average and is disKSE 100 INDEX is currently 1.1 per cent above its 200-day moving averdisplaying an upward trend. Volatility is low as compared to the average displaying a downward trend. Volatility is low as compared to the average playing an upward trend. Volatility is relatively normal as compared to the age and is displaying an upward trend. Volatility is low as compared to the 10,169.50, while Index will continue to find its 1st support level at 9,942.55 and 2nd support level at 9,892.55.

average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect volume volatility over the last 10 trading sessions. Volume indicators reflect mod- average volatility over the last 10 trading sessions. Volume indicators reflect reflect volume flowing into and out of INDEX at a relatively equal pace. flowing into and out of DGKC at a relatively equal pace. Trend forecasting erate flows of volume out of UBL (mildly bearish). Trend forecasting oscil- moderate flows of volume into NML (mildly bullish). Trend forecasting oscilTrend forecasting oscillators are currently bullish on INDEX.

oscillators are currently bullish on DGKC.

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

*Arif Habib Ltd

48

Buy

*Arif Habib Ltd

AKD Securities Ltd

46

Buy

AKD Securities Ltd

Positive

TFD Research

TFD Research

44.9

Technical Analysis 36.08 34.46 34.10 33.55

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

Fair Value

810.01 27,143.37 0.68 33.49

* Target price for Dec-10 & **Net Open Interest in future market

Pakistan Petroleum Ltd

Rs Recommendations

Fair Value

Rs Recommendations

Buy

*Arif Habib Ltd

14

Buy

*Arif Habib Ltd

230

Buy

64.64

Neutral

AKD Securities Ltd

12.47

Buy

TFD Research

239.15

92.3

Positive

TFD Research

14.01

Positive

78

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

lators are currently bullish on NML.

Bank Al-Falah Ltd

Brokerage House

Technical Outlook

Technical Outlook RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

lators are currently bearish on UBL.

National Bank of Pakistan

Hub Power Co Ltd

49.30 64.82 66.42 73.11

Rs Recommendations

Brokerage House

318.37 20,668.38 36.60 65.71

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

41.09 8.07 9.22 11.07

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

Positive

Technical Outlook

Technical Outlook

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

Fair Value

674.58 5,443.85 N/A 8.17

* Target price for Dec-10 & **Net Open Interest in future market

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

22.96 202.48 194.69 194.59

Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean

247.57 42,817.26 49.73 173.91

* Target price for Dec-10 & **Net Open Interest in future market

HUBC closed up 0.07 at 33.51. Volume was 19 per cent below average NBP closed down -1.58 at 64.92. Volume was 38 per cent below average BAFL closed down -0.18 at 8.07. Volume was 21 per cent below average PPL closed down -1.57 at 172.95. Volume was 11 per cent above average and Bollinger Bands were 73 per cent wider than normal.

and Bollinger Bands were 14 per cent narrower than normal.

and Bollinger Bands were 67 per cent narrower than normal.

and Bollinger Bands were 172 per cent wider than normal.

PPL is currently 11.1 per cent below its 200-day moving average and is HUBC is currently 0.1 per cent below its 200-day moving average and is NBP is currently 0.5 per cent below its 200-day moving average and is dis- BAFL is currently 27.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is high as compared to the average playing an upward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low when compared to to the average volatility over the last 10 trading sessions. Volume indicavolatility over the last 10 trading sessions. Volume indicators reflect volume volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators tors reflect moderate flows of volume into PPL (mildly bullish). Trend forereflect volume flowing into and out of BAFL at a relatively equal pace. flowing into and out of HUBC at a relatively equal pace. Trend forecasting flowing into and out of NBP at a relatively equal pace. Trend forecasting casting oscillators are currently bearish on PPL. Momentum oscillator is oscillators are currently bearish on HUBC.

oscillators are currently bullish on NBP.

Trend forecasting oscillators are currently bearish on BAFL.

Ghandhara Industries Ltd Ghandhara Nissan Ltd Orix Leasing Pakistan Ltd Rupali Polyester Ltd Shield Corporation Ltd Wazir Ali Industries Ltd Asian Stocks Fund Ltd Baluchistan Wheels Ltd Bolan Castings Ltd Din Textile Mills Ltd Ghani Automobile Industries Ltd Ghani Value Glass Ltd IBL HealthCare Ltd Mandviwalla Mauser Mari Gas Company Ltd Safe Mix Concrete Products Ltd Safeway Mutual Fund Ltd Shabbir Tiles & Ceramics Ltd Bhanero Textile Mills Ltd Blessed Textiles Ltd

22-Sep 22-Sep 22-Sep 22-Sep 22-Sep 22-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 23-Sep 24-Sep 24-Sep

12:00 10:00 10:00 11:00 11:00 11:30 12:30 10:30 9:00 3:30 12:00 10:00 12:00 12:00 10:00 2:30 3:00 10:00 10:00 11:00

Company

Leverage Position

54.97 46.41 47.28 54.29

Time

TECHNICAL LEVELS

Positive

Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)

Date

Buy

74.2

Technical Outlook

Technical Outlook

Leverage Position

45.45 25.67 25.21 27.72

10,031.05

KSE 100 INDEX closed down -71.08 points at 9,992.50. Volume was 13

78.44

Fair Value

Company

currently indicating that PPL is currently in an oversold condition.

Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Limited Arif Habib Securities Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Chemical Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele

RSI 1st 2nd (14-day) Support 43.86 3.25 3.15 45.53 51.50 51.25 58.46 68.55 68.10 51.88 32.75 32.35 36.56 22.05 21.55 42.27 68.55 67.70 49.06 14.50 14.30 52.44 10.25 10.05 60.99 321.55 319.05 52.81 82.30 81.25 41.09 7.95 7.80 54.43 3.15 3.10 53.57 8.50 8.35 34.81 1.25 1.20 45.45 24.50 24.20 43.55 1.45 1.40 42.76 2.05 2.00 40.02 38.00 37.30 44.47 59.60 58.35 54.11 177.40 176.55 45.30 13.40 13.20 49.60 4.95 4.80 41.54 27.10 26.85 46.19 104.65 104.25 41.89 93.70 92.65 36.08 33.35 33.20 48.87 118.30 116.65 48.02 229.20 226.55 28.13 2.75 2.60 38.85 1.40 1.35 59.34 2.35 2.25 44.21 9.95 9.80 52.08 41.65 41.30 42.03 1.95 1.90 54.08 69.05 68.15 43.26 183.80 181.45 41.41 3.00 2.95 49.30 64.05 63.15 45.07 15.60 15.15 38.69 18.80 18.60 47.88 2.70 2.65 47.77 1.40 1.35 54.97 46.40 45.70 56.67 145.30 144.50 40.76 2.50 2.45 37.61 1.50 1.40 38.55 2.00 1.95 57.74 7.80 7.60 62.45 233.00 231.25 22.96 171.75 170.55 38.06 73.75 72.65 55.69 262.65 260.55 50.68 18.55 18.40 36.26 193.45 192.20 68.94 28.75 27.75 45.18 8.55 8.40 81.09 24.05 23.20 37.74 2.05 2.00 52.84 3.55 3.45 33.18 50.65 49.75 40.14 2.35 2.25

1st

2nd

Resistance 3.60 3.80 52.25 52.75 69.45 69.90 33.75 34.35 23.45 24.35 70.80 72.20 15.15 15.60 10.80 11.15 328.05 332.05 85.20 87.05 8.25 8.45 3.40 3.55 8.90 9.10 1.40 1.50 25.45 26.00 1.55 1.60 2.20 2.35 40.00 41.20 62.50 64.15 179.70 181.15 13.90 14.20 5.25 5.50 27.75 28.15 105.70 106.35 96.60 98.45 33.65 33.80 122.80 125.65 234.45 237.10 3.25 3.55 1.50 1.55 2.50 2.60 10.40 10.70 42.45 42.90 2.05 2.10 71.55 73.15 190.50 194.85 3.20 3.30 66.35 67.75 16.80 17.60 19.35 19.70 2.80 2.85 1.50 1.60 48.40 49.70 146.75 147.45 2.60 2.70 1.65 1.75 2.15 2.30 8.30 8.65 237.75 240.75 174.90 176.85 76.90 78.95 268.20 271.65 18.90 19.15 196.45 198.20 30.85 31.95 8.85 9.00 25.30 25.70 2.20 2.30 3.80 3.95 52.75 54.05 2.50 2.60

Pivot 3.45 52.00 69.00 33.35 22.95 69.95 14.95 10.60 325.55 84.15 8.15 3.35 8.75 1.35 25.10 1.50 2.15 39.25 61.25 178.85 13.70 5.15 27.50 105.30 95.55 33.50 121.15 231.80 3.05 1.45 2.40 10.25 42.10 2.00 70.65 188.15 3.10 65.45 16.40 19.15 2.75 1.45 47.70 146.00 2.55 1.60 2.10 8.15 236.00 173.70 75.80 266.10 18.75 195.20 29.85 8.70 24.45 2.15 3.70 51.90 2.45


8

Wednesday, September 22, 2010

Advisor asks big resolve for mending stricken edu

ISLAMABAD: Special Assistant to Prime Minister Gilani on Social Sector concluding the two-day workshop of Pakistan Educational Task Force - Online

Nust convocation held

Students termed national asset RAWALPINDI: Pakistani students are quite capable of coping with the great natural disaster with devotion and dedication as history testifies the fact, Rector National University of Science and Technology (NUST) Lt Gen Muhammad Asghar HI (M) said here. Speaking to undergraduate convocation of the BE students held at the at Electrical and Mechanical Engineering E&ME for its 16th batch of undergraduate engineers here on Saturday he said the world acknowledges our resilience and ability in the time of need. Lauding students he said they always participated in the nation building and helped in the time of disasters and played a key role for the relief and rehabilita-

tion. There was a great responsibility on the shoulders of students to come forward and took part for the nation building with devotion and dedication. He urged the students work honestly and serve the nation with determination. He said that NUST University is the top most university in the world and producing the best brain and modern era to meet the challenges in the future. Rector NUST awarded President's Gold Medal for the overall best academic position to Yasir Mehmood Qureshi. Prime Minister's Gold Medal was awarded to Yasir Mehmood Qureshi, Ahmed Zia, Saad Usman Khan and Ns Ahsan Awan and Ns Talha Manzoor for the best academic performance in

each discipline. The COAS gold Medal is awarded to the Technical cadet displaying the overall best performance. The Medal was awarded to the company senior under officer TC Faheem Iftekhar. A remarkable number of 270 students passed out and were handed over degrees. The chief guest wished the students success and hoped that they would strive to achieve excellence in everything they do and bring glory to their parents, institution and their country. While delivering the welcome address, the Commandant Major General Muhammad Shahid HI(M) highlighted the achievements of the E&ME College during the recent years. -APP

UN calls for greater efforts to end gender disparities in education UNITED NATIONS: Girls and boys in only 85 countries will have equal access to primary and secondary education by 2015 if present trends continue, according to a new UN report, which calls for greater efforts to reduce gender disparities in education. The annual edition of the Global Education Digest, published by the UN Educational, Scientific and Cultural Organization (UNESCO), adds that 72 countries are not likely to reach the goal of gender parity in education by 2015, one of six education goals set by world leaders gathered at the World Education Forum in Dakar, Senegal, in 2000. "This new data tells us that we need to reaffirm our commitment to education and gender equality," said Unesco Director-General Irina Bokova. The advances made in improving girls and women's access to education and training over the past decades risk being undermined by reductions in international aid and

national investments as the world struggles to cope with inter-locking crises. "Yet, we all know that compromising the education of girls and women will only lead to more vulnerability and reinforce the vicious cycle of poverty." The report comes on the eve of the UN summit that begins on Monday in New York, where world leaders, civil society groups, foundations and the private sector will meet to discuss how to advance the ambitious antipoverty targets known as the Millennium Development Goals (MDGs), which also have a target date of 2015. Among its other findings, the report says that worldwide, girls are more likely to never enter primary school than boys. In South and West Asia, only about 87 girls start primary school for every 100 boys, according to data compiled by the Unesco Institute for Statistics (UIS). Meanwhile, in sub-Saharan Africa, about 93 girls begin their primary education for every 100 boys. At the

national level, the chances of starting primary school for boys are at least 10 per cent greater than those for girls in Afghanistan, Benin, Cameroon, the Central African Republic (CAR), Chad, the Dominican Republic, Eritrea, Ethiopia, Guinea, Mali, Niger, Pakistan, Papua New Guinea, Tuvalu and Yemen. "Girls in these countries are often excluded entirely from education," noted UNESCO, adding that UIS data reveals that households are more likely to send a boy who is past the official entry age to school than a girl. In many countries boys tend to drop out of school more than girls. The report says that disparities against girls in secondary education are more severe than those against boys, with boys having greater access than girls in 38 per cent of countries. For every 100 boys enrolled in secondary education in sub-Saharan Africa, for example, there were about 79 girls in 2008 compared to 82 girls in 1999. -NNI

IIUIâ&#x20AC;&#x2122;s 8th convocation on October 7

ISLAMABAD: Advisor to Prime Minister on Social Welfare Shahnaz Wazir Ali said the devastating floods in the country should strengthen the resolve of the nation to rebuild the education sector better. Addressing the opening ceremony of Pakistan Education Task Force two days workshop here at a local hotel, she said the catastrophic magnitude of the damage caused by the floods has also hit the education sector very badly. "Approximately six to seven million children's education is suffering due to dislocation of families who are living in camps or other makeshift arrangements," she said. She said UNICEF, NCHD and various NGOs had started tent schools for the flood affected children, but a much larger effort is needed. "We have to rebuild not only the physical infrastructure but to think beyond that and to focus our attention on establish-

ing an efficient educational system in line with the demands of the 21st century," the PM's advisor said, adding: "Old and chronically inefficient educational system is inefficient and no longer acceptable as it lacks in capacity to respond to the needs of our country." In view of the pressure on our budgets, she said, the importance of ensuring efficiency of expenditure in every rupee spent should be kept in mind. She urged the participants of the workshop from various provinces and regions to use the expertise of the Pakistan Education Taskforce (PETF) and facilitate their departments in implementing the National Education Policy (NEP). The two days workshop is organised by Pakistan Education Task Force (PETF). Michaels Barber, co-chairperson PETF along with his consultants has come from UK to conduct this workshop.-NNI

RCCI signs MoU with Comsats RAWALPINDI: Rawalpindi Chamber of Commerce and Industry (RCCI) and COMSATS Institute of Technology Thursday signed a Memorandum of Understanding (MoU) to bridge the gap between academia and industry in Pakistan and develop marketbased curricula. The scope of MoU is aimed at increasing interaction with industry, fostering the research & development activities and providing internship opportunities to COMSATS students. Rector COMSATS Institute of Information Technology Dr Junaid Zaidi and president RCCI Kashif Shabbir signed the MoU. Minister for Science and Technology Azam Khan Swati was also present on the occasion. Speaking on the occasion Minister for Science and Technology Azam Khan Swati lauded the assistance provided to the flood affected people by Rawalpindi Chamber of Commerce and Industry. Urging RCCI to play a proactive role for the progress and prosperity of the country he said his ministry is ready to assist and provide all kinds of help to the business community. They should keep introducing latest technologies and value addition aiming to ensure economic progress. Highlighting immense potential of business community he said no candidate can win election anywhere without active support of local chamber. Swati said his ministry is ready to manufacture parts of F16, plants for generating power through solar, wind and hydelif provided adequate funds, adding that Pakistan could be transformed into a developed nation with the period of next five years by sincere leadership. He said "he is a self made person and started his career as an ordinary worker with sheer hard work he currently owns two oil companies in United States and is not burden on national exchequer". Rector COMSATS Dr Junaid Zaidi highlighted the performance of his institute and expressed satisfaction over the working. He said renowned social worker Abdul Sattar Edhi would be conferred with doctorate degree in the convocation scheduled to be held next week. Zaidi said COMSATS is going to launch Rs 2 billion project "Adopt a (flood Affected) Family soon". According to the project each family will be paid Rs 10,000 for 10 consecutive months. COMSATS would not ask for money just the donor will be asked to directly pay to the affected family for 10 consecutive months. President (RCCI) Kashif Shabbir highlighted the performance of chamber saying business community is ready to cooperate with ministry of science and technology. -APP

ISLAMABAD: The International Islamic University of Islamabad (IIUI) would hold 8th convocation of the varsity on October 7. The degrees would be conferred on to 2300 graduates of the university who were passed out from the varsity during September 2008 to August 2009. 37 gold medalist and three PhD degrees would also be part of the convocation. Federal Minister for Education Sardar Asif Ahmed Ali would honor the moot as chief guest. It was announced by Gulzar Ahmed Khawaja, Chairman Convention Management Committee and Director Academic Planning and Coordination (APC) of MIRPUR: The Academic funds to HEC might create Staff Association (ASA) of problems particularly for the University here. Mirpur University of the students who are studyScience & Technology ing abroad on scholarships, (MUST) fully endorsed the and in general for students recent demand made by the who are studying in various Vice Chancellors (VCs) universities across the Committee in its recent country," the meeting meeting in Islamabad seek- maintained. ing early release of the req- The meeting assured that uisite funds to the Higher the ASA and all of its memCommission bers would favor and supKARACHI: The Southern Education Regional Committee of the (HEC), it was officially port the decisions of VCs committee whatever its Institute of Chartered declared by the ASA here. Accountants of Pakistan A meeting of ASA, chaired outcome might be in future (ICAP) will be organising a by Prof. Muhammad Iqbal, in the larger interest of the President of the teaching staff as well as seminar on "Code of Association, expressed full students of the universities Corporate Governance & solidarity with the VCs across the country includWay Forward" today at committee. ing AJK. ICAP House Clifton The meeting reiterated full The meeting also been Karachi. support to the decisions declared to participate in Ebrahim Yacoob Sidat, taken in VCs committee the proposed welfare proFCA, Country Managing meeting held in Islamabad grams and campaign for the Partner Ernst & Young Ford recently. relief and rehabilitation of Rhodes Sidat Hyder will be "The act of stoppage of the flood victims. -APP the speaker at the occasion and Faud Azim Hashmi, President, Pakistan Institute of Corporate Governance will be the session chairman at the seminar. The concept of corporate governance has become increasingly important in Pakistan in recent years. The subject has attracted greater attention from regulators who are reviewing the governance framework across private and public sectors. While most aspects of the corporate legal framework are embodied in the Companies Ordinance, 1984, one of the major developments the regulatory regime in Pakistan has been the formulation of the Code of Corporate Governance, 2002 (the Code). It was subsequently incorporated in the Listing Regulations of the three Stock Exchanges of Pakistan and made applicable to all KARACHI: Students appear in self-assessment test organised by Islami Jamiat -e-Talaba listed companies entities.-PR for the admission in NED University. -Online

Govt urged to release HEC funds

ICAP to hold moot today


9

Wednesday, September 22, 2010

Gold consolidates after run of highs, eyes Fed Bullion prices steady after three days of record peaks LONDON: Gold eased in Europe on Tuesday as the market consolidated after three days of record highs, but remained supported by speculation the Federal Reserve may signal a move towards further stimulus measures after a policy meeting later in the day. Prices came under a little pressure in early afternoon trade as the dollar pared losses against a basket of currencies, helped by data showing US housing starts rose more than expected in August, but remained firmly underpinned. Spot gold was bid at $1,276.25 an ounce at 1524 GMT, against $1,279.25 late in New York on Monday. US gold futures for December delivery fell $3.30 to $1,277.50. "Today we are just waiting for the Fed," said Deutsche Bank trader Michael Blumenroth. "After that, other markets will move, currency

BD tea prices up on higher demand DHAKA: The average price of Bangladeshi teas rose 1.85 per cent to 195.35 taka ($2.80) per kg at the weekly auction on Tuesday, brokers said. More than 1.66 million kg were sold, leaving only 1.43 per cent of the offer to be carried back. Bangladeshi buyers including exporters mainly to the Commonwealth of Independent States and Pakistan participated in the auction, held in the country's lone auction centre in the main port city Chittagong. "There was higher demand that advanced prices for most categories," said an executive of the National Brokers Limited, the largest tea broking firm in the country. Different grades were sold between 170 taka and 226 taka per kg in the auction. But in an exclusive sale for good liquoring teas some 250 kg of Churamoni Dust realised the highest price of 230 taka per kg. The next auction will be held on Tuesday, Sept. 28, with some 1.84 million kg on offer. -Reuters

markets especially, and then we will see." "Everyone is thinking you should not be short at this time of year for seasonal reasons," he added. "And there is some money flowing into the gold market due to safe-haven buying." While few traders expect the Fed to unveil further quanti-

tative easing measures just yet, the bank may signal its readiness to take such steps if needed. Any further round of quantitative easing would reflect concern over the outlook for US growth, meaning interest rates are likely to remain lower for longer, and could undermine the US dollar, and ultimately prove inflationary. Investment demand for gold remained healthy, with hold-

ings of the world's largest goldbacked exchange-traded fund, New York's SPDR Gold Trust, rising another 3.65 tonnes on Monday to 1,304.472 tonnes. World Gold Council country manager Cihan Goksel told a WGC meeting in Istanbul on Tuesday that global gold demand rose 36 per cent in the second quarter to 1,050 tonnes. Among other precious metals, silver eased to $20.59 from $20.73 an ounce, after hitting a 2-1/2 year high of $20.99 on Friday. Platinum was at $1,618.50 an ounce against $1,625.75, and palladium at $530.50 versus $535.40. The US-based palladium exchangetraded product operated by a unit of London's ETF Securities saw an outflow of nearly 20,000 ounces on Monday, the largest dip in its holdings since a near30K oz decline in late July, data on its website showed. -Reuters

NY cotton soars over $1/lb for 1st time in 15-yrs NEW YORK: Cotton prices tract jumped as much as 3.76 surged more than 3 per cent on cents or 3.83 per cent to trade Monday, jumping past the $1 a at $1.0198 per pound. lb level for the first time since But the market tailed off late 1995 as clothing makers and in the session due to profit-takother commercial users who ing and the December contract sat out the summer rally were just managed to gain 1.15 cents forced to buy at prices driven to close at 99.37 cents per lb. up by fund investors. Trading was heavy though, Buying by speculators, mill as total volume stood at 33,622 and trade accounts stoked the lots at 1841 GMT. rally on Monday. Investment Some analysts were wary howfunds sitting on money-making ever that cotton prices were long positions were NY cotton mid-day also buyers anticipating cotton prices will Cotton prices rallied to over $1 a lb for the second day running as mostly investor get a further boost and fund buying continued to push the marfrom consumer ket up to near its highest level in 15 years, demand down the road. analysts said. High cotton prices The key December cotton contract hit a seshave squeezed cloth- sion high of $1.0197 per lb, one tick below ing makers in the the Monday top of $1.0198, and was trading United States and 1.98 cents higher at $1.0125 at 1411 GMT. around the world. "It's a perfect storm in cotton," showing signs it is close to a top. Nick Gentile, senior partner of The US government's commodity trading consultancy Commodity Futures Trading Atlantic Capital Advisors, told Commission weekly report on Reuters in an interview. Sept. 17 showed noncommerFor only the second time cials increasing their net long since 1960, cotton prices on the position in cotton since July ICE Futures US cracked $1 at five-fold and managed money the start of trading in Asia and accounts doubling those posithe key December cotton con- tions. -Reuters

Copper edges down; eyes on Fed meeting LONDON: Copper drifted lower on Tuesday as investors were reluctant to make big bets ahead of a US Federal Reserve meeting that could herald an easing of monetary policy, which could undermine the dollar and boost metals. US data showed housing starts rose to their highest in four months but it failed to give a boost to copper, which traders said needs fresh impetus after hitting its highest in nearly five months on Monday. Three-month copper on the London Metal Exchange ended the day at $7,680 a tonne, from Monday's close of $7,715. The Federal Open Market Committee holds its one-day meeting on Tuesday and an announcement is expected at 1815 GMT. Demand for refined copper from the world's largest consumer of the metal rose strongly in August, leading a broad increase in apparent consumption of metals, Reuters calculations based on official Chinese data showed. A growing trend of falling LME inventories has also helped overall sentiment in

recent months. Latest LME data showed that

Shanghai copper declines Shanghai copper fell 0.7 per cent on Tuesday as investors wound up positions ahead of a three-day holiday, but London was steadier, supported by strong Chinese imports and expectations of tight supply in the future. Benchmark third-month Shanghai copper fell 420 yuan to 59,830 yuan. Prices earlier touched 60,230 yuan, retreating as investors trimmed length ahead of the three-day Mid Autumn Festival starting Wednesday. LME stocks fell across all major contracts bar lead. Copper stocks slipped 2,475 tonnes to 382,500 tonnes, having fallen from 6-1/2 year highs at 555,075 tonnes in

mid-February. Cancelled warrants, or copper tagged for removal from LME-registered warehouses stand at 29,175 tonnes, or 7.7 per cent of the total, up from 5 per cent at the start of June. Aluminium traded at $2,175 per tonne from $2,195 per tonne on Monday. The metal used in transport and packaging touched $2,223 on Monday, its highest level since Aug. 6. Three-month tin was at $23,000 a tonne, down from Monday's $23,500 a tonne. It hit a two-year high of $23,800 a tonne last week on the back of tightening supply from top exporter Indonesia. Steel ingredient nickel ended at $22,350 a tonne from $23,050 on Monday. Battery material lead was bid at $2,174.5 from $2,195, zinc traded at $2,142 from $2,180. Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for September 20 2010

Tokyo rubber hits 5-month high on Nikkei SINGAPORE: The most active contract on Tokyo rubber futures rose to its highest in almost five months on Tuesday as early gains in Japanese shares spurred fund buying. The benchmark rubber contract on the Tokyo Commodity Exchange, currently February 2011, settled up 8.9 yen per kg at 305.4 yen after rising as high as 305.9 yen, its strongest level since late April. The Nikkei edged briefly to a seven-week intraday high before falling into negative territory in the face of profit-taking, with the dollar's struggles against the yen weighing on sentiment. Gains on Tokyo futures lifted the physical prices in Southeast Asia, with benchmark Thai RSS3 hovering near a record see in April. The TOCOM futures market was closed on Monday for a national holiday and will be closed again on Thursday. China, the world's biggest rubber consumer, will also be on holiday from Wednesday until Friday. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.9 per cent to 26,900 tonnes from late last week, the exchange said. -Reuters

LOUISIANA: A farmer works through a field as he harvest soybeans in Lafayette, Ind. -Agencies

Oil slides ahead of Fed, inventory reports NEW YORK: Crude oil fell for the fifth time in six days on Tuesday amid concerns over the outlook for the global economy and oil demand and as investors awaited results from a key Federal Reserve policy meeting. The US central bank is expected to restate its existing policy with no fresh stimulus and interest rates kept at

US November crude fell 99 cents, or 1.3 per cent, to $75.20 a barrel. ICE Brent for November fell 54 cents to $78.78. The premium for November Brent over the equivalent US benchmark West Texas Intermediate contract rose above $3.50 on Tuesday. The premium shrank below $2 when a leak forced the closure

almost zero, but the Fed has come under pressure to inject more money into its sluggish economy. The October US crude contract expiration and high US oil inventories kept pressure on the front month and helped push nearby months lower, industry sources said. US crude for October delivery fell $1.79, or 2.39 per cent, to $73.07 per barrel by late morning, its biggest percentage drop since Aug. 31. That day also was a Tuesday ahead of weekly oil inventory reports and one with expiring contracts on tap, though they were for refined products.

of the biggest Canada-US crude pipeline but widened when it became apparent flows would resume last week. Chinese figures offered some support for prices on Tuesday. China's apparent oil demand rose 8.2 per cent in August over a year earlier, rebounding from July, Reuters calculations from official data showed. Crude inventories probably fell last week because of lower imports from Canada due to the Enbridge pipeline outage and as tankers navigated around stormy weather, a Reuters survey of analysts showed on Monday. -Reuters

Palm oil eases; weather concerns linger KUALA LUMPUR: Most vegetable oil prices dipped on Tuesday as traders booked some profits after concerns of dry weather in the Americas and frost in China and Canada drove markets up the previous day. Malaysia's December palm oil dropped 1.3 per cent to close at 2,674 Malaysian ringgit, easing from a five-week high on Monday. The most active May soyoil contract on China's Dalian Commodity Exchange fell 0.2 per cent after touching a record high the previous day. "Traders are booking profits ahead of the Mid-Autumn festival, but losses were limited by US soyoil's strength," said a Shanghai-based oil analyst with a local brokerage. Cargo surveyors Intertek Testing Service and Societe Generale de Surveillance will

unveil Malaysia's palm oil exports data for Sept. 1 to 25 on Saturday and Monday, respectively. In Indonesia, Jakarta-based PT KBN Nusantara, formerly known as the state marketing centre, sold 9,500 tonnes of crude palm oil at top price of 8,163 rupiah ($0.911) per kg in auction on Tuesday, against 8,198 rupiah per kg in auction on Monday. Producers in Medan, home to Indonesia's main palm oil export port of Belawan, sold crude palm oil at between 8,090-8,180 rupiah per kg on Tuesday. There was no palm oil auction in Medan on Monday. Refiners in Jakarta offered refined, bleached, deodorised (RBD) palm olein -- used as cooking oil -- at 8,700 rupiah per kg versus 8,600 rupiah per kg the previous day. -Reuters

Cocoa rises on West Africa crop concerns LONDON: Cocoa reversed early losses to rally over 2 per cent on Tuesday on concerns that the West African crop may not be as large as expected. ICE raw sugar futures fell, unable to hold Monday's sevenmonth peak as activity in the physical market slowed, while arabicas edged higher, stabilizing after their biggest one-day drop in four weeks. Analysts and dealers believe expectations for a large West African crop are built into prices and the market was looking overdone to the downside. Cocoa prices have fallen over 20 per cent on improved supply prospects since hitting a 32-year peak in July. Dealers said if there are problems with disease or delays to the harvest prices could rally. ICE December cocoa traded up $64 or 2.4 per cent at $2,782 per tonne, as at 1515 GMT. Liffe December cocoa traded up 39 pounds at 1,904 pounds a tonne. Sugar slipped on Tuesday as dealers talked of a weaker white sugar premium, suggesting less active cash business. "Physical activity has certainly slowed and with it (we presume) trade buying of futures," a European broker said in a daily market report. London December white sugar traded down $9.90 or 1.6 per cent at $597.90 per tonne. ICE October raw sugar futures traded down 0.61 cent or 2.5 per cent at 23.68 cents a lb. News that Pakistan has decided to waive the duty on raw sugar imports, and that Indonesia will buy more white sugar than expected, will support the sugar market, dealers and analysts said. Weighing on sugar prices was a report from forecaster Somar that substantial rains were due over top producer Brazil's sugar cane and coffee belts in the southeast by late September, interrupting a long dry spell that has worried producers. Coffee steadied on Tuesday after it marked its biggest singleday percentage loss on Monday, as investors and producers sold on forecasts for rain in Brazil's coffee belt, dealers said. A weather premium had been built into coffee futures on concern about unusually dry conditions. ICE December arabica coffee futures traded up 0.7 cent or 0.4 per cent at $1.8265 a lb, while Liffe November robusta coffee was up $2 at $1,656 per tonne. -Reuters

National Commodity Exchange Ltd Trading Summary Date

21-Sep-2010

Commodity

CRUDE100

Contract

Price

Date

Quotation

NO10

US$ Per Barrel

Open

High

Low

Close

74.76

76.75

73.58

76.22

Traded Volume

162

in lots

Previous

Current

Open Interest

Settlement

Settlement

in Lots

Price

Price

76.22

76.22

44

21-Sep-2010

CRUDE100

DE10

US$ Per Barrel

77.30

78.24

74.64

78.08

42

78.08

78.08

21-Sep-2010

SILVER - SL500

NO10

US$ Per Troy Ounce

20.81

20.81

20.68

20.68

-

20.68

20.68

-

21-Sep-2010

SILVER - SL500

DE10

US$ Per Troy Ounce

20.85

20.96

20.60

20.69

69

20.69

20.69

124

21-Sep-2010

GOLD 01oz

OC10

US$ Per Troy Ounce

1280.10

1283.30

1274.00

1277.30

528

1277.30

1277.30

567

GOLD 01oz

NO10

21-Sep-2010

US$ Per Troy Ounce

1280.40

1284.00

1274.00

1278.00

7

1278.00

1,005

1278.00

1,753

21-Sep-2010

GOLD 01oz

DE10

US$ Per Troy Ounce

1281.00

1284.40

1274.80

1278.80

701

1278.80

1278.80

723

21-Sep-2010

GOLD 100oz

OC10

US$ Per Troy Ounce

1277.80

1279.60

1277.40

1277.30

11

1277.30

1277.30

3

21-Sep-2010

GOLD 100oz

NO10

US$ Per Troy Ounce

1279.70

1279.70

1278.00

1278.00

-

1278.00

1278.00

21-Sep-2010

GOLD 100oz

DE10

US$ Per Troy Ounce

1281.40

1285.00

1275.50

1278.00

81

1278.80

1278.80

5

21-Sep-2010

GOLD

OC10

Per 10 grms

35396.00

35414.00 35210.00

35315.00

69

35315.00

35315.00

45

GOLD

-

-

LINEAR LOW (LL)

21-Sep-2010

NO10

Per 10 grms

35333.00

35333.00 35324.00

35324.00

35324.00

35324.00

Cash Buyer

1240

1150

21-Sep-2010

GOLD

DE10

Per 10 grms

35348.00

35348.00 35338.00

35338.00

-

35338.00

35338.00

March (3rd Wednesday)

1240

1080

21-Sep-2010

Kilo GOLD

OC10

Per 10 grms

35297.00

35297.00 35287.00

35287.00

-

35287.00

35287.00

-

April (3rd Wednesday)

1240

1080

21-Sep-2010

Tola Gold50

OC10

Per Tola

41170.00

41170.00 41158.00

41158.00

-

41158.00

41158.00

-

21-Sep-2010

Tola Gold100

OC10

Per Tola

41170.00

41170.00 41158.00

41158.00

-

41158.00

41158.00

-

21-Sep-2010

Mini Gold

1-Aug

Per 10 grms

36371.00

36371.00 36350.00

36350.00

-

36350.00

36350.00

-

21-Sep-2010

Mini Gold

2-Aug

Per 10 grms

36323.00

36386.00 36323.00

36386.00

-

36386.00

36386.00

-

21-Sep-2010

Mini Gold

3-Aug

Per 10 grms

36335.00

36335.00 36314.00

36314.00

-

36314.00

36314.00

-

21-Sep-2010

Mini Gold

4-Aug

Per 10 grms

36347.00

36347.00 36326.00

36326.00

-

36326.00

36326.00

-

21-Sep-2010

Mini Gold

5-Aug

Per 10 grms

36359.00

36359.00 36338.00

36338.00

-

36338.00

36338.00

-

21-Sep-2010

TT Gold

1-Sep

Per Tola

41756.00

41756.00 41731.00

41731.00

-

41731.00

41731.00

-

21-Sep-2010

IRRI6W

23SE10

Per 100 kg

2402.00

2402.00

3202.00

3202.00

-

3202.00

3202.00

-

21-Sep-2010

Rice IRRI - 6

OC10

Per 100 kg

3228.00

3228.00

3226.00

3226.00

-

3226.00

3226.00

-

21-Sep-2010

RBD Palm Olein

OC10

Per Maund

4206.00

4206.00

4184.00

4184.00

-

4184.00

4184.00

-

21-Sep-2010

KIBOR3M

10-Sep

Per Rs. 100

87.19

87.19

87.19

87.19

-

87.19

87.19

-

21-Sep-2010

KIBOR3M

10-Dec

Per Rs. 100

86.86

86.87

86.86

86.87

-

86.87

86.87

-

LME Official Prices, US$ per tonne for September 20 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY

2210 2220 2150 2160 2085 2095 2085 2095

ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Oct10 810.00, Nov10/Jan11 812.00, Feb11/Apr11 815.00, May11/Jul11 815.00. RAPEOIL: Dutch/EU euro tonne fob exmill Nov10/Jan11 790.00-12.00, Feb11/Apr11 797.00-13.00, May11/Jul11 802.00-13.00. SUNOIL: EU dlrs tonne extank six ports option Oct10/Dec10 1150.00, Jan11/Mar11 1150.00, Apr11/Jun11 1150.00. LINOIL: Any origin dlrs tonne extank Rotterdam Sep10/Oct10 1260.00+5.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Sep10 920.00-20.00, Oct10 917.5017.50, Nov10 912.50-7.50, Dec10 905.00-10.00, Jan11/Mar11 900.00-7.50. PALMOIL: RBD dlrs tonne cif Rotterdam Oct10 957.50, Nov10/Dec10 937.50. PALMOIL: RBD dlrs tonne fob Malaysia Oct10 910.0010.00, Nov10/Dec10 890.0010.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Oct10 920.00-10.00, Nov10/Dec10 900.00-10.00, Jan11/Mar11 895.00-10.00, Apr11/Jun11 895.00-12.50. PALM STEARIN: Dlrs tonne fob Malaysia Oct10 890.005.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1295.00+10.00, Nov10/Dec10 1295.00+10.00, Dec10/Jan11 1295.00+10.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 2020.00+0.00. Reuters

POLYPROPYLENE(PP)

LONDON METAL EXCHANGE (METALS)

Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller

European vegetable oil prices

2173 2174 2208 2209 2283 2288 2350 2355

7735 2187 7735.5 2188 7750 2212.5 7752 2213 7685 2230 7695 2235 7445 2210 7455 2215

23340 23345 23350 23375 22850 22950 21925 22025

TIN

ZINC NASAAC

23625 2155 23650 2155.5 23650 2180.5 23675 2181 23125 2242 23175 2247 2238 2243

2100 2105 2130 2140 2130 2140 2180 2190

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

-


Australian cricket captain Ponting walks to attend a practice session in Chandigarh

10

Wednesday, September 22, 2010

Wenger misses Spurs match due to FA charges LONDON: Arsenal manager Arsene Wenger admitted an FA improper conduct charge and will serve a one-match touchline ban when his team play at Tottenham Hotspur in a League Cup tie on Tuesday. The 60-year-old Frenchman accepted the standard sanction of a one match ban and an 8,000 pounds ($12,500) fine, the FA said in a statement on their website on Tuesday. "The ban will be served with immediate effect," the statement confirmed. Wenger was cited after reacting angrily when Sunderland striker Darren Bent scored in the fifth minute of additional time to force a 1-1 draw against Arsenal at the Stadium of Light on Saturday. The fourth official's display board had indicated a minimum of four minutes additional time would be played. Wenger angrily remonstrated with match officials, furious over the time added on by referee Phil Dowd. Bent's goal, with the last kick of the Premier League game, cancelled out Cesc Fabregas's first-half effort and denied Arsenal the chance of going top of the table.-Reuters

Fabregas out for 3 weeks LONDON: Arsenal captain Cesc Fabregas will be out for up to three weeks with a hamstring injury, the English Premier League club said on Tuesday. The Spanish midfielder, who has been in good form in recent weeks, picked up the injury shortly after scoring in Saturday's 1-1 draw at Sunderland and was quickly substituted. Arsenal, unbeaten this season and second in the league behind champions Chelsea after five matches.-Reuters

U-19 trials to start in Hyderabad HYDERABAD: The trials for selection in Hyderabad's Under-19 Cricket Team for participation in Pakistan Cricket Board's Under-19 Inter-District Cricket Tournament will get underway on Sept 25 at 10 a.m. Secretary District Cricket Association, Hyderabad, Ahmed Ali Jaffri informed this in a press statement released here on Tuesday. Jaffri invited the interested Under-19 players to appear for the trials on the scheduled date and time. They have been advised to bring their Form B, matriculation certificate and photocopy of their father's NIC along with them.-APP

More controversy on chaotic Pak tour * *

LONDON: Pakistan's Umar Gul celebrates after the dismissal of England's Broad and Pakistan win the fourth one-day international cricket match at Lord's cricket ground.-Reuters

Sports pundits see ICC role as biased ISLAMABAD: Sports Pundits on Tuesday have declared the role of International Cricket Council biased and demanded of President ICC Sharad Pawar to stop ongoing propaganda against Pakistan. Giving their sheer reactions over match fixing here on Tuesday, the personalities associated to sports demanded that ICC should set aside prejudiced behavior and take steps for improvement of cricket. They leveled charge that match fixing is mere conspiracy to destroy Pakistani cricket thus damaging its roots. They said that if ICC would not show responsibility then it would badly affect the cricket at international level. They said that despite investigations from Pakistani cricketers for several hours, Scotland Yard could not proved any allega-

tion true, the failure proved that it was a conspiracy against Pakistani cricket, they added. They said that our cricketers should realize their responsibilities. They said that if British newspaper got any evidences about match fixing it should publish before the match while why ICC did not provide allegations to Pakistan Cricket Board according to rules and regulations. They further stressed that conspiracies hatched against Pakistan have amplified since the time when presidency of ICC was handed over to India. They said that if President ICC Sharad Pawar is really serious in progress of cricket then it should play role for halting ongoing propaganda against cricket otherwise matters will get worse with the passage of time in this regard.-Online

NA body warns action against guilty players ISLAMABAD: Minister for Sports Ijaz Hussain Jakhrani Tuesday assured National Assembly that the sports ministry will take strict action against players of Pakistani cricket team if charges of spot fixing proved against them as the final report of the Scotland Yard is yet awaited. Replying to a calling attention notice, the sports minister admitted that there are several shortcomings on part of the management of Pakistan Cricket Board and it will have to face action if such negligence proved in spot fixing case. It is high time the PCB management improved its performance and removed all the weaknesses. The management

will have to face strict action if their flaws proved in the case and action is subject to the findings of the Scotland Yard report, said the minister. He told the House that the investigation has been handed over to the Crown Prosecution and the final report is awaited shortly and it is yet to see either charges are framed against the players or dropped. Mentioning to the a media report on July 27, the minister said the report had expressed such apprehensions and also mentioned names of Azhar Majeed and Mazhar Majeed what the PCB viewed were agent of cricket players and had nothing to do with alleged fixing.-Online

Imran rejects calls for cricket ban KARACHI: Pakistani sporting hero Imran Khan brushed aside calls to ban his nation from international cricket until corruption allegations are investigated, saying a country cannot be punished collectively. Former England captains Ian Botham and Michael Vaughan have demanded Pakistan are kicked out of international cricket until a probe into their cricketers has been completed. Their calls follow allegations of spot-fixing against Pakistani cricketers during their ongoing tour of England, which triggered a war of words between cricket officials from the two countries. Former Pakistan cricket captain Khan said a country cannot be thrown out on the basis of allegations. "In any form of illegal activity you cannot give collective punishment to a country and deprive millions of fans, more so because these are still allegations yet to be proven," Khan told AFP. Pakistani cricket has been embroiled in the spot-fixing scandal since last month's News of the World report in which the British newspaper claimed several players took money to underperform during the Lord's Test against England. Test captain Salman Butt and bowlers Mohammad Asif and Mohammad Aamir were provisionally suspended by the International Cricket Council (ICC) earlier this month as British police interviewed the players. The police completed an initial report and prosecutors are deciding whether to press charges. Khan said the only evidence comes from a newspaper report and its footage.-APP

Players clash in the nets before start of play Strauss angered by slur on team's reputation

LONDON: Pakistan's chaotic tour of England degenerated into near anarchy on the morning of the fourth one-day international at Lord's on Monday, a match the visitors went on to win by 38 runs. The day began with the England and Wales Cricket Board (ECB) threatening legal action against Pakistan Cricket Board (PCB) chairman Ijaz Butt following provocative comments about Friday's third match at the Oval which the tourists won by 23 runs. England captain Andrew Strauss said his team had "strong misgivings" about taking the field after Butt told a television channel there had been "loud and clear talk in bookies' circles that some English players were paid enormous amounts of money to lose (Friday's) match". Match referee Jeff Crowe was then forced to intervene after a dispute in the nets between England batsman Jonathan Trott and Pakistan fast bowler Wahab Riaz. ECB chief executive David Collier said former New Zealand captain Crowe had dealt immediately with the incident which was now closed. "I think feelings have been high in the last 24 hours. We

don't hide behind that though. We admit feelings were strong so that is bound to spill over," Collier said. Against this unpromising background, an excellent match unfolded on a warm autumnal afternoon watched by an appreciative crowd. It ended under floodlights as Pakistan squared the five-match series 2-2 with one game remaining in Southampton on Wednesday. The tour was, however, already irretrievably blighted by the suspensions of Pakistan test captain Salman Butt and team mates Mohammad Amir and Mohammad Asif after last month's fourth test at Lord's. The bans followed an investigation into newspaper reports they had deliberately arranged for no-balls to be delivered during England's only innings. Under one-day captain Shahid Afridi, Pakistan bounced back from defeat in the first two 50over internationals to win at the Oval only to learn the International Cricket Council (ICC) had opened an investigation into the scoring pattern during their innings on Friday. BUTT CRITICISED ICC chief executive Haroon

Lorgat said Britain's Sun newspaper had been told "a certain scoring pattern would emerge during certain stages of the match". "Broadly speaking that information appeared to be correct," Lorgat said. Butt criticised Lorgat for making the information public without telling the PCB and then made his comments about England at the Oval match. Although he told BBC radio on Monday morning he had no evidence of wrongdoing but had been merely relaying bookmakers' information, the ECB were not mollified. "Both the ECB and Team England view the comments made by Butt as defamatory and not based in fact," a statement said. "The ECB expresses its gratitude for the outstanding conduct of the England team this summer and will take all legal and disciplinary action which may result from Mr Butt's comments." Strauss, who top-scored with 68 from 72 balls in England's innings on Monday, told reporters the team would explore every avenue to combat Butt's allegations.-Reuters

Cricket World Cup preparation on course * *

Mumbai's playing surface a concern Sympathy for Commonwealth Games problems

MUMBAI: While India struggle to get ready for next month's Commonwealth Games in Delhi, organisers for next year's cricket World Cup in India, Sri Lanka and Bangladesh have struck an altogether more confident note. Organisers have targeted the end of November for the final preparations for the venues, tournament director Ratnakar Shetty told Reuters in an interview. "In some cases it may be extended to the end of December but that is the deadline," he insisted. "The ICC team and the entire team of organisers will be visiting all 13 venues starting from Nov 18." The quadrennial event will be played across 13 venues with eight in India, three in Sri Lanka and two in Bangladesh, from Feb. 19 to April 2 next year. Three stadiums in India -- the Wankhede in Mumbai, the Eden Gardens in Kolkata and the MA Chidambaram in Chennai -- are undergoing

major facelifts. "Out of the three venues undergoing development, Kolkata and Chennai already have the playing surface ready. The wickets are ready so there are no issues," said Shetty. "The only concern is how Mumbai comes up with respect to the playing surface. We are looking at the end of November for Wankhede to stage some Ranji Trophy matches." Commonwealth Games organisers have come under fire with team officials complaining about sub-standard accommodation facilities for athletes with missed deadlines compounding the problems. Cricket organisers pledged they will not take any chances. "We have closed all our logistic issues. We have finalised the airlines, a major concern as teams will be flying in and out of the three countries," said Shetty. "The accommodation issues are resolved in all three countries and so also the ground transport. We have closed on

all these issues by the end of August." STRONG CREDENTIALS Shetty strongly defended India's credentials as hosts. "The country has already hosted two cricket World Cups and a Asian Games successfully. So if anybody has any doubt about India's ability to host world events, they are living in a fool's paradise," he said. He refused, however, to criticise Commonwealth Games organisers for the sorry state of affairs, with 11 days left for the Oct. 3-14 event. "We have to be fair to them. Infrastructure wise, preparations are much different and much larger for the Games as compared to the cricket World Cup. For CWG, they had to start from the scratch," Shetty said. "If at all there was a problem, I think they started late with the stadiums." Pakistan were also scheduled to co-host the event but were stripped of the hosting rights due to the deteriorating security situation in the country.Reuters

Scandals, filth give Câ&#x20AC;&#x2122;wealth Games sinking feeling NEW DELHI: It was meant to be emerging India's showcase event for the world -- the coming out party the Olympics had been for Beijing. But preparations for next month's Commonwealth Games are down to the wire and the event risks descending into farce. Commonwealth Games Federation president Michael Fennell said Tuesday the two-week event, starting October 3, was seriously compromised by conditions at the Games village that have "shocked the majority." Fennell's comments came as no surprise to observers. At least 19 people, mainly workers, were injured when a footbridge under construction to the main Games stadium collapsed on Tuesday, highlighting fears of shoddy workmanship.

The shooting of two foreign visitors by suspected militants in Delhi Sunday has combined with a dengue fever epidemic, heavy monsoon rains, delayed construction, graft scandals and traffic chaos to give the Games that sinking feeling. Dismal preparations have underscored for many the out-of-touch and slow-paced leadership of Prime Minister Manmohan Singh and his Congress government, raising questions how India's graft-ridden, inefficient state can modernise to compete with China. The government's pro-poor voter image may suffer from tales of billions of wasted dollars. A perception of India's entrepreneurial process threatening Western jobs may slip if roofs leak, athletes get dengue and journalists wonder where the Wi-Fi is.

"Fingers crossed, India may pull off a miracle," said Boria Majumdar, a sports historian who has written the book 'Sellotape Legacy: Delhi and the Commonwealth Games'. "But it will have to be a miracle. No doubt about that." Some four or five accommodation towers at the Games village are still unfinished, lacking facilities like wireless Internet, fitted toilets and plumbing. Rubble, unused masonry and discarded bricks litter the unfinished gardens. On a recent visit to the village, the lack of preparation was stark. A Reuters reporter witnessed dirty apartments with empty boxes strewn about, as labourers worked to finish necessities such as paths and pavements. A crude cement slope appeared to be an unplanned fix for disabled ath-

letes requiring access to one apartment block. The athletes' training centre was still to be fitted out, its reception area a dusty, empty expanse as boxes of equipment piled up outside. The water in the training and recreational swimming pools was dirty, with insect larvae breeding on the surface. "They have had some delegations staying there and they have been reporting constantly about the filth in the village," Fennell told CNNIBN TV. "There is a lot of stuff there that needs to be cleaned." Organisers say there is no question the Games will be put off, but the nightmare is that one delegation exits and that leads to an avalanche. And the problems are not receding. Of the nearly 100,000 accreditations for officials and media, only

around a quarter have been issued. With the $6 billion (3.9 billion pounds) Games way behind schedule, there have been worries stagnant puddles in construction sites have proved breeding grounds for mosquitoes. Hundreds of Delhi residents are hospitalised in one of the worst epidemics in years. NOT ALL BAD? With costs running 17 times more than original estimates, the government's anti-corruption watchdog identified 16 projects with suspect financing. The Games village and security -construction delays mean venues have been locked down by police only two weeks before the Games -are the two major weakness of the Games, Majumdar said. The insistence to hold the Games in October has led to some athletes

pulling out due to conflicts with Olympic qualifiers. October also means the opening ceremony may be ruined by rains. Triple Olympic sprint champion Usain Bolt of Jamaica is the most high profile of a bunch of top athletes who have decided to skip the event. But many venues, including the main Jawaharlal Nehru stadium, where an aerostatic balloon hovers above, have been praised as world class. The hope for organisers is that TV coverage of the Games will focus on events rather than the arrangements. Other events like the 2004 Athens Olympics were dogged by problems but turned out fine. Beijing was hit by worries over the torch relay and Tibet protests but ended in media glory.-Reuters


International & Continuation

Wednesday, September 22, 2010

UK public

US housing starts borrowing hits record at 4-mth high high for Aug W A S H I N G T O N : Groundbreaking for new US homes jumped in August to a four-month high, a tentative sign of stability in the housing market after steep declines brought by the end of a homebuyer tax credit. Analysts said the data on Tuesday, which came as Federal Reserve policymakers met to assess the economy, further allayed fears that the recovery from the worst recession since the Great Depression was at risk. It also strengthened the argument against the US central bank announcing any new monetary policy easing steps at the end of Tuesday's meeting. "It suggests we have hit bottom (in housing)," said David Wyss, chief economist at Standard & Poor's in New York. "The economic numbers in

the last last six weeks have been a little bit more encouraging and unless (Fed policymakers) feel there is a significant major risk of a double-dip, I think they will try to keep their powder dry." Housing starts rose 10.5 per cent, the largest increase since November, to an annual rate of 598,000 units, the Commerce Department said. Financial markets had looked for a rise to just a 550,000-unit rate. Construction was bolstered by a big jump in activity in the volatile multi-family segment, which increased by nearly a third to an annual rate of 160,000 units in August. Single-family starts increased 4.3 per cent to a 438,000-unit pace, the highest since June. Financial markets were little moved by the data as investors waited to hear from the Fed,

which was expected to release a statement at around 2:15 p.m. (1815 GMT). Stocks on Wall Street were down slightly in late morning, while prices for US government debt rose as traders bet the Fed would at least hint more easing could be on the way. The US dollar fell against the euro. While data for August -from private-sector jobs growth to retail sales -- have eased fears of a double-dip recession, the economy remains fragile and many analysts believe the Fed will launch a fresh round of purchases of longer-term government debt at some point. However, there is no consensus among Fed policymakers whether a further easing in monetary policy is needed and what threshold should be met before taking action.-Reuters

Australia cbank predicts higher interest rates SYDNEY: Australia's central bank on Tuesday said interest rates were likely to rise further to contain inflationary pressures from a mining boom, the bluntest warning yet that it could resume tightening as early as October. In the minutes of its September policy meeting, the Reserve Bank of Australia (RBA) acknowledged some external risks from a slowing US economy and fragile financial markets, yet clearly had its eyes fixed on accelerating domestic growth. "While policy has to be alert to these risks, members consid-

ered that if the central scenario came to pass it was likely that higher interest rates would be required, at some point, to ensure that inflation remained consistent with the mediumterm target," the minutes showed. It had decided to keep rates at 4.5 per cent at its September meeting since conditions domestically looked a little stronger while those abroad looked a little weaker, but it noted that the current level of rates was appropriate only "for the time being". The central bank has kept rates steady for four months,

having led the developed world in hiking 150 basis points between October and May. A run of generally strong domestic data and a very upbeat outlook from top officials at the RBA have already led financial markets to price in a much greater risk of a return to rate hikes, perhaps as early as next month. Interbank futures extended their recent decline to imply a one-in-three chance for a hike to 4.75 per cent at the RBA's October 5 policy meeting. A move in November is seen as a 72 per cent chance and December 88 per cent.-Reuters

LONDON: Britain's budget deficit last month hit a record high for the month of August as higher inflation forced the government to shell out nearly three times more in interest payments than it did last year. But the official figures released on Tuesday also showed the government enjoyed a bigger than expected windfall from its tax on bank bonuses, and the broader trend remains for the deficit to fall as the economy recovers and the Treasury implements huge spending cuts from next year. The government's tough talk on expenditure cuts has reassured investors, driving Gilt yields to record lows even as worries about peripheral euro zone debt have weighed on confidence elsewhere. The Office for National Statistics said public sector net borrowing came in at 15.302 billion pounds in August, well above analysts' forecasts for a reading of 12.5 billion pounds and some 1.8 billion pounds up on the year. Analysts described the figures as disappointing, though a pick-up in receipts over the last few months and revenues of around 3.5 billion from the bank bonus tax means the budget deficit for the fiscal year so far is running well below year-ago levels. "There are some positive revisions to back data, so overall it does not look like the public finances will be blown off course for the year as a whole," said Philip Shaw, economist at Investec. Still, the Conservative/ Liberal Democrat coalition government will have its work cut out to meet its goal.-Reuters

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telephony was a source of concern. He urged the Malaysian importers to consider importing nontraditional items such as cutlery, surgical instruments, gems and jewelry, sports goods, light engineering goods, marble products computer software products, fruits and fruit products, vegetables and meat and meat based products which are known the world over due to their high quality and price competitiveness. -NNI

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deployed in the affected areas and urged them to put in their best in this testing national cause. He appreciated the troops busy in flood-hit areas on conducting the task tirelessly. Meanwhile, 1,296 people were evacuated from various parts of affected areas whereas 19,033 people were taken care at various relief camps during last 24 hours. Overall 13 tons of dry ration was provided to the affected people and cooked food distributed among 18,913 people while 2,121 people were given medical treatment. Twenty vehicles carrying relief goods, medicines, water bottles, food items, dry ration (flour, pulses, rice, sugar, ghee) and tents, etc, were sent from Karachi to flood-hit areas of Sindh. The army troops were putting in their best to ensure swift execution of relief operations. According to another press release, the army engineers are busy in plugging the breaches at Ghouspur bund in Sindh and are repairing of 117 farm-to-market link roads in southern Punjab. Army has established 20 medical camps for flood affected areas of southern Punjab. More than 150 schools and 100 basic health units are being maintained and renovated by army. One C-17 aircraft carrying 46 tons of relief goods from Sialkot reached Quetta for distribution among flood-affected people of Dera Murad Jamali and Naseerabad in Balochistan. -NNI

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He said Turkey would actively participate in the Friends of Democratic Pakistan (FoDP) meeting in Brussels next month. He also offered assistance in capacity building, particularly in the field of agriculture, technical education and vocational training. The Turkish foreign minister said that Prime Minister Racep Tayyip Erdogan would undertake a visit to Pakistan soon as an expression of solidarity with the flood-affected people. -NNI

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assistance provided by the government and people of Jordan in the shape of medical team, medicines and other equipment during recent devastating floods Defense sources told that both sides agreed to enhance cooperation between the armed forces of the two countries. The Jordanian air chief expressed his deep grief and sorrow over the loss of lives in the floods and said that his country would stand by Pakistan in its time of need. -NNI/Online

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jittery awaiting the outcome of the Fed policy-setting meeting. Royal Bank of Scotland, HSBC and Lloyds Banking Group shed 0.7 to 1.3 per cent. "It's understandable to see investors being reluctant to continue buying stock that might lose value overnight if the US markets get a nasty surprise and drop dramatically," Angus Campbell, head of sales at Capital Spreads, said. US residential construction rose more than expected in August to a four-month high, suggesting the embattled housing market was starting to stabilise. Miners, which had also bounced on Monday, fell along with base metal prices. Kazakh miner ENRC was the biggest decliner in the sector, down 2.7 per cent as it spent $670 million to expand its presence in Brazilian iron ore and further diversify into another emerging market, Latin America. Oil service companies were heavily sought after FTSE 250 firm Wellstream Holdings said it had received several bid approaches. Blue-chip players AMEC and Petrofac gained 0.8 per cent, while Wellstream shares jumped more than 28 per cent to their highest in nearly two years. "Large oil service businesses are 'cashed up' and looking for businesses to add to the geographic or technological footprint," Evolution Securities said in a note. Mid-cap peers in the sector John Wood Group and Hunting climbed 6.6 and 3.1 per cent respectively. Integrated oils were in demand, with BP up 0.8 per cent, extending gains on Monday after news it had permanently sealed its ruptured Gulf of Mexico well. Cairn Energy was up 2.3 per cent after it said a well being drilled in Greenland found evidence of oil proving a working hydrocarbon system in Baffin Bay, raising hopes that the region could become a new oil producing basin. Vedanta Resources rose 2.3 per cent. Carnival reversed early losses, rising 0.7 per cent after it posted higher quarterly earnings. -Reuters

provinces but other parties gain power because of division of the PML in factions. He said if the PML stands unified, it would have governments in the country. "The national history is a testimony to the fact that whenever the PML has been in power, the national economy and other sectors have been better," he remarked. Answering a question about unconstitutional change, Senator Wasim Sajjad said that military rule still seems nowhere because of the domestic and international situation. About an in-house change, the PML-Q leader said that presently an in-house change would not be in the interest of the opposition because the situation has worsened to such an extent that overcoming it is difficult. He said if the PPP could not solve problems after forming coalition government with 124 seats, how several parties would overcome the problems after forming government as a result of an in-house change. "Moreover, if an in-house change is brought at this point of time, the PPP would contend that it has not been given a chance. It is better that the PPP completes its term and if it is not necessary, then general elections should be held after four years," Senator Wasim Sajjad said. About claims of some quarters that the parliament has failed, the PML-Q leader said that in a parliamenContinued from page 5 No #9 tary system, the government leads and brings policy. He said that Market players remain cautious about the outlook amid persistent worpresently problems of people are not being resolved. There is price hike, poor law and order and turmoil in the country and the ries that the yen may strengthen again, even in the wake of intervention. government has failed to control this situation so this too could be The dollar dipped slightly against the yen, down 0.2 per cent to 85.54 yen. Masayuki Doshida, a market analyst at Matsui Securities, said gains in interpreted as failure of the parliament. -NNI

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raw material. As many as three corruption cases have been registered against the accused persons. They were indicted on Tuesday but they pleaded not guilty. Later the court adjourning the hearing of the case summoned the witnesses and investigation officer on next hearing. -Online

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The crash has raised the death toll of foreign troops in Afghanistan this year to 529, according to a toll based on the casualties website, surpassing the figure of 521 for 2009. A total of 2,097 coalition troops have died since the US-led invasion of 2001 which ousted the Taliban regime. -NNI

Tokyo shares may be limited due to potential selling by retail investors, who had bought Tokyo shares from April to June, even as the market fell in that period. "When the Nikkei rises above 9,500 or so, selling on rallies tends to appear by (retail) customers who had been buyers during the slide and are carrying losses," Doshida said. "I think that is helping put a lid on the market." Kyorin surged 13.3 per cent to 1,368 yen, while Sawai lost 2.7 per cent to 7,480 yen. A number of exporters shifted into negative territory in afternoon trade, with Honda Motor Co down 0.5 per cent at 3,000 yen and Sony Corp down 1.5 per cent at 2,637 yen. But Canon Inc still clung to gains, closing up 1.4 per cent at 3,905 yen, after saying it plans to build a 15 billion yen ($175 million) inkjet printer plant in Thailand amid soaring demand in Asia. Shares of companies with exposure to China also dipped in response to a territorial dispute between China and Japan, said Jujiya's Okamoto. Hitachi

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Construction Machinery lost 0.9 per cent to 1,853 yen and Komatsu shed one per cent to 1,923 yen. Worries about a possible dip in the number of big-spending Chinese tourists to Japan also were likely weighing on shares of department stores such as Takashimaya, which lost 1.7 per cent to 655 yen. -Reuters

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or 0.07 per cent, to 10,745.67. The Standard & Poor's 500 Index fell 1.72 points, or 0.15 per cent, to 1,140.99. The Nasdaq Composite Index lost 4.65 points, or 0.20 per cent, to 2,351.18. Sectors that had rallied, including technology and materials shares, gave back some gains on Tuesday. Dow components Cisco Systems Inc was down 1.3 per cent at $21.46 and Microsoft Corp fell 0.8 per cent to $25.23. Alcoa Inc fell 1.2 per cent to $11.24, while big oil companies were weak as crude gave up some of its gains from the last session. Chevron Corp dipped 0.4 per cent to $79.66. The central bank acknowledged in August the US recovery had lost momentum, and Fed Chairman Ben Bernanke said it would renew efforts to stimulate growth if the outlook soured appreciably. A Fed statement is due at about 2:15 pm EDT. "Whatever the outcome may be from the Fed, there will be an initial kneejerk reaction as it won't satisfy everyone," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut. US housing starts increased in August to their highest level in four months, while permits for future construction rose, suggesting the embattled housing market was starting to stabilise. The Dow Jones home construction index added 0.6 per cent, and DR Horton Inc rose one per cent at $11.16. Airline shares rose, with the ARCA airline index adding 1.4 per cent and rising to a 34-month high. A trade group forecast global airlines will likely post sharply higher 2010 profits than previously forecast as carriers rebound from the recession. Credit Suisse downgraded Whole Foods Market Inc, saying sales at the upscale grocer are slowing and the company might miss its own comparable sales forecasts. The shares slipped 2.3 per cent to $37.28. Carnival Corp & Plc reported higher third-quarter sales buoyed by increased bookings. The company lifted its full-year outlook and the shares gained 1.8 per cent to $37.73. -Reuters

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further fund flows into India is significant, as global funds are just about beginning to increase their allocations. The brokerage said any market correction could attract cash-rich insurance companies to Indian stocks. TCS rose as much as 5.1 per cent to 957 rupees and Infosys climbed nearly two per cent to 3,065, both record highs. Larsen & Toubro closed 1.8 per cent higher, after Credit Suisse raised its target price on the stock to 2,288 rupees from 1,969, while maintaining an "outperform" on the stock. Mahindra Satyam rose 4.1 per cent to 95.25 rupees. Bharat Heavy Electricals Ltd rose 1.6 per cent to 2,478.95 rupees. EIH Ltd firmed 1.3 per cent to 138.50 rupees. -Reuters

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and Justice Ghulam Rabbani passed directive on a suo moto case regarding implementation of its orders on NRO. The bench in its order said that sufficient time had been given to the Ministry but no fresh summary was submitted to Prime Minister as directed by a five-member larger bench on June 11 and July 5. At the outset of proceedings, the bench had directed Secretary Law Masood Chishti to appear and advise it over the matter. Chief Justice questioned him as to why he had not prepared and submitted a fresh summary to the prime minister. -Agenceis

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The sentence period of 3 years and 16 days and 10 months and 22 days are left more against Brig (Retd) Imtiaz and Adnan A Khawaja respectively, he further informed. The court also rejected the immediate bail plea by Adnan Khawaja. Deputy Prosecutor General told the court higher authorities of NAB had sought the record in respect of both Brig (Retd) Imtiaz and Adnan Khawaja. Secretary Establishment Division told establishment division had issued notification of Adnan Khawaja as MD OGDCL as it was not in its knowledge that Adnan Khawaja was ineligible to hold any public office and he was convicted by NAB. Orders regarding his notification had come from above, he told. "Adnan A Khawaja continued to work as chairman Newtech despite nullification of NRO by the SC and later he was appointed as MD OGDCL after accountability court decision while the court had disqualified him for holding public office for 10 years and his conviction had not been quashed. Not arresting Adnan Khawaja is tantamount to non-implementing SC orders", CJP remarked. Deputy Chairman NAB is also holding his office illegally after court decision, CJP said. Directing Attorney General (AG) Maulvi Anwar-ul Haq, the CJP said under the court's decision only 10 days were left more with you that permanent chairman be appointed. NAB prosecutor general presented the record of central jail Rawalpindi in respect of both the accused and told Brig (Retd) Imtiaz had precious property in Islamabad and high court had set September 23 with regard to hearing in this regard. The court maintained that their bail could not be extended till the filing of new surety bonds and decision on new surety bonds would be taken as per law. "Brig Sahib you should go to jail", CJP remarked. "Please allow me two days I will file surety bonds in high court. I can file the surety bonds here if these can be deposited here", Brig (Retd) Imtiaz said. "Deposit the surety bonds in the respective court", CJP said this while reprimanding him. Furthermore, a high-level consultative meeting was held under the chair of Prime Minister Syed Yousuf Raza Gilani Tuesday to review the situation arising out of arrest of ex-MD of OGDCL Adnan Khawaja along with former head of Intelligence Bureau (IB) Brig (R) Imtiaz from the courtroom on special directive of a three-member bench of Supreme Court. The meeting was attended by Federal Ministers Rehman Malik, Babar Awan, Qamar uz Zaman Kaira and other key government personalities. According to official sources, it was decided during the meeting that the government would ensure the implementation of the Supreme Court orders while SC orders on the reopening of Swiss cases was also reviewed and the government would present its stand in the Supreme Court. -Agencies

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said that the shortage has been created after Parco plants shutdown due to floods. Ogra is taking strict measures to see that the smaller companies also establish storage facilities that would ensure fuel availability on all days. -Agencies

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for achieving the record targets of wheat production this year. Currently the wheat stocks in public sector are highest and would ensure food security during the coming years also. Pakistan was already sensitised to the need of fast track collection of quality agriculture data for making timely policy decisions.-Agencies

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carried out normally across the country. Irfan Qureshi added that PSO was the only oil supplier of the country which has stepped ahead to tend the needs of its customers throughout the country in a situation where its other competitors halted their operations. Qureshi said that PSO has enough reserve stocks to meet the needs of the country during any kind of crises. Irfan Qureshi claimed that PSO carried on with operations at all its locations round the clock to address the shortage and supplied 50,000 MTs of its 48 percent share in Punjab out of the total needs of 1,10,000 MTs across the province. We have saved the country from the dead shortfall and put our supplies across the country intact" he observed. -Reuters

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during August as investors woes regarding post-flood condition and expectation of uptick yield curve in discount rate. The delay in leverage product further hit investor's sentiment during the month. Open-end funds which contribute almost 85.0 per cent of total Mutual Fund industry size stands at Rs176.76 billion at the end of August 2010 compared to Rs177.8 billion a month earlier, posted slightly negative growth of 0.6 per cent MoM while closed-end fund industry size stands at Rs30.51 billion (dropped by Rs1.77 billion in absolute term). Moving towards categories, Income & Money Market Funds category has posted asset size growth of 1.7 per cent MoM; thanks to ABL Asset Management which has launched two new funds which cumulatively added Rs2.8 billion during the month. The category stands at Rs111 billion till August 2010 compared to Rs109 in July 2010. Equity funds category showed major decline of 5.9 per cent to stand at Rs38.79 billion till August 2010 compared to Rs41.24 billion during July 2010. The other categories having exposure in equity market has also posted decline i.e. Islamic Equity, Islamic Asset Allocation and Balanced fund categories all of them declined by 5.8 per cent, 4.6 per cent & 0.7 per cent MoM.

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The upcoming phases of rehabilitation and reconstruction, he said would require hectic efforts and constant monitoring by the elected representatives. MNAs lauded the Prime Minister for his comments expressing support to the visit of Maulana Fazal-ur-Rehman chairman Kashmir Committee to USA. The upcoming visit of Maulana Fazal-ur-Rehman, they said, will effectively present the principal stance of Government of Pakistan on the Kashmir Issue. -Agencies

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and no other formula would be applied for the purpose. He said the Prime Minister has given directions for establishment of a revolving Journalists Victim Fund and modalities would be sorted out in consultation with the PFUJ and National Press Club. -NNI

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According to reports, US drone plane fired missiles at a vehicle carrying eight militants in Jandola area of South Waziristan near Afghanistan's Paktia province. As a result of the missiles attack eight militants were killed.-NNI

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support for the people and Government of Pakistan thick and thin. He said that Pakistan is determined to bring back lost smiles on the faces of the depressed people who have lost every thing in floods. On the occasion, US ambassador informed President on the relief funds from various US organisations to help flood affectees stressing that US will support Pakistan till the reconstruction and rehabilitation of flood affectees is completed in this regard. -Online

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back Rs15.54 billion to the SBP during the above mentioned period against borrowing of Rs19.1 billion in identical period last year. As per the details, Punjab government only borrowed Rs5.99 billion while KhyberPakhtunkhwa, Balochistan and Sindh retired Rs11.97 billion, Rs7.32 billion and Rs2.25 billion respectively. Monetary policy for the next two months (Oct-Nov) is due to be announced on September, 29. Previously, central bank raised its key policy rate by 50 basis points to 13 percent in July. As per the TFD analyst, today's (Wednesday) Treasury bill auction would give fair picture of next monetary policy. Any upside in yields in 6-month and 12-month would hint at expected rise in key policy rate while, more participation in 3-month paper would signal unchanged policy rate stance. Meanwhile, monetary aggregates during the fiscal year to date (July 1 to September 9, 2010) have declined where broad money supply growth inched up by 0.31 per cent. The private sector credit off take witnessed continued to fall as they retired further amounted to Rs 62.85 billion till September 09, 2010.


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Wednesday, September 22, 2010

Put some meaning in Kashmir talks, Sharif tells India LAHORE: The PML (N) Quaid, Mohammad Nawaz Sharif has urged upon the Indian leadership to enter into meaningful dialogue with the genuine Kashmiri leadership. The PML (N) Chief made these remarks during the courtesy call on him by the Indian High Commissioner, Ambassador Sharat Sabharwal, in Raiwind on Tuesday. During the course of their exchanges, the former Prime Minister recalled that he has always been a strong advocate of cordial and cooperative rela-

tions between Pakistan and India. To this end, he had taken the initiative to invite the then Indian Prime Minister, Atal Behari Vajpayee to Lahore in February, 1999, where the two leaders had signed the Lahore Declaration that contained in it a roadmap for resolving the differences between the two countries. Nawaz Sharif added that he was convinced that there could be no genuine peace or stability in the region without a resolution of the issue of

Kashmir, which has been primarily responsible for tension and conflict between the two countries over the past 60 years. He called upon the Indian leaders to recognise that a peaceful resolution of the problem, in accordance with the wishes of the Kashmiri people, would enable both India and Pakistan to devote their energies and resources to economic growth and development of their countries and thereby to usher in peace and prosperity to the region. -Online

Bench-bar sync must for ‘straightaway’ justice: CJ ISLAMABAD: The cooperation of Bench and Bar is inevitable for quick dispensation of justice, Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry said. He said this while addressing the delegation of Gujranwala District Bar headed by its President Ch Zaighamullah Sansi comprising other office bearers and members who called on him in the Supreme Court Building. The delegation discussed with the Hon'ble Chief Justice the issues of legal fraternity.

Elite Force to guard Adnan Khawaja LAHORE: Government taking precautionary measures to ensure the security of Chief Justice Lahore High Court Khawaja Sharif has deployed commandoes inside as well as out side the court According to media report, four Elite Force commandoes have been deployed in the courtroom of Khawaja Sharif, while extra police force and elite force commandoes have been deployed outside the court. The people entering the court room are being searched strictly. Government has placed concrete block outside Khawaja Sharif resident and the entry of common people has been restricted after that security has been high alerted. -Online

Jordan air chief meets COAS, CJCSC RAWALPINDI: Major General Malek Salameh Habashneh, Commander Royal Jordanian Air Fore, called on Chief of Army Staff (COAS) General Ashfaq Parvez Kayani at the General Headquarters on Tuesday. According to a press release of the Inter-Services Public Relations (ISPR), the visiting dignitary remained with the army chief for sometime and discussed the matters of professional interest. Major General Malek Salameh Habashneh also met Chairman Joint Chiefs of Staff Committee (CJCSC), General Tariq Majid at Joint Staff Headquarters and discussed professional matters related to progress in bilateral defence cooperation and recent regional security developments especially in the Middle East and Afghanistan. According to ISPR, General Tariq Majid also conveyed his gratitude for the relief See # 7 Page 11

They further informed his lordship about the hardships faced by them regarding the establishment of Special Courts, i.e. Drug & FIA Courts in their jurisdiction because they have to travel long. They informed the CJ about the National Judicial Policy is being fully implemented because of which quick relief is being given to the litigant parties. The delegation further apprised him about the bench and bar cooperation in their district, issues arising amongst the lawyers and the district

judiciary are being resolved with the cooperation between the bench and bar. The Chief Justice also praised the services of Gujranwala district bar rendered in the days of restoration movements meant for Rule of Law, Supremacy of Constitution and independence of judiciary. They complimented his lordship's commitment, dedication and selflessness for the cause of justice. They further extended invitation to Chief Justice to visit Gujranwala district bar. -NNI

PSM ex-chief indicted for corruption KARACHI: Anti Corruption Court (ACC) led by judge Shaukat Ali Memon has indicted former chairman Steel Mills, Moin Aftab and other co-accused in a corruption case. The accused persons have pleaded not guilty while the witnesses and investigation officer have been summoned on next hearing. The accused persons including former chairman Moin Aftab, Samin Ahmad, Brig (R) Abdul Qayyum, Captain Rashid, Attique and others are charged with committing corruption amounting to Rs22 billion in award of contract in respect of canteen of the steel mills and purchase of See # 4 Page 11

Nine Nato soldiers killed in copter crash ISLAMABAD: At least nine foreign soldiers were killed when a Nato helicopter crashed in southern Afghanistan on Tuesday. Quoting official sources, a private television channel reported that two Nato troops, an Afghan soldier and a US civilian were also injured. The incident occurred because of a technical fault, killing nine soldiers on the spot while four others also sustained serious injuries, an official of Nato forces said. See # 5 Page 11

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Pakistan’s exports to Malaysia vault 81pc ISLAMABAD: Pakistan's exports to Malaysia recorded a healthy increase of 81 per cent with exports of RM352 million in the first six months of this year compared to RM194 million in the corresponding period of 2009 with rice and onion being the biggest contributors. According to the latest data obtained from Malaysian Trade Development Authority (MARTRADE), the rice made up more than half of the total exports with an export of RM188 million compared to RM46 million of last year registered a robust growth of 307 per cent. The data further revealed that onion with an export of RM12 million registered robust growth compared to exports of RM0.17 million in the corre-

sponding period of last year. In the same period, maize with an export of RM6 million compared to the RM 3.7 million recorded a robust growth of 61 per cent, cotton yarn with an export of RM20.2 million compared to RM10.5 million registered an increase of 92.2 per cent and bed linen with an export of 1.4 million compared to 0.68 million recorded an increase of 105 per cent. The Malaysian exports to Pakistan also registered a robust growth of 13.57 per cent with total exports of RM3.22 billion compared to RM2.84 billion for the first six months of last year. However, Pakistan exports of fish, potatoes, woven fabric synthetic staple fibre, electric appliance of line telephony to

Malaysia registered decline of 54.67 per cent, 11.23 per cent, 40.15 per cent and 59.90 per cent respectively. On the other and Malaysian exports of insecticides and synthetic filament yarn registered a decline of 35.72 per cent and 35.02 per cent respectively. While commenting upon the data, the High Commissioner for Pakistan in Malaysia, Masood Khalid said that although the robust growth in the bilateral trade reflects the ever growing business and trade ties between the two countries due to FTA signed between the two countries in November, 2007, the decline in exports of fish, potatoes, woven fabric synthetic staple fibre, electric appliance of line See # 1 Page 11

PMLs get pieced together: senator

Corps commander checks up on Sehwan flood

ISLAMABAD: The alliance of various factions of the Pakistan Muslim League (PML) is the need of the hour, as there is no ideological difference between these factions but some personal problems. "The leaders of all factions should unify the Muslim League by offering sacrifices," said PML-Quaid leader and leader of the opposition in Senate Senator Wasim Sajjad while talking to NNI in his chamber at the Parliament House here on Tuesday. Senator Wasim Sajjad said that still there are no signs of military rule in the country whereas an in-house change

would not be in the interest of the opposition. He said the PML leaders and supporters have the only wish and that is unification of all the PML factions. "People want that the party which founded the country should unite to steer the country out of dire straits. There is no ideological difference among PML factions and all of them are opposed only to the Pakistan People's Party, which has ideological difference with the PML," the leader of the opposition in Senate said. Senator Wasim Sajjad said that PML exists in all See # 3 Page 11

KARACHI: Corps Commander Lieutenant General Shahid Iqbal inspected the troops deployed in floodaffected areas of Sehwan, Boobuk and Bhan Saeedabad as well as Arral Wah, Manchar, LS Bund and outflow to River Indus on Tuesday. According to an ISPR press release, the corps commander visited the areas to see the intensity of the floodwater and measures being taken to shift the people to safer places and relief camps. He met the troops See # 2 Page 11

400,000 Watan cards to be distributed shortly ISLAMABAD: Federal Interior Minister Rehman Malik said that more than 400,000 Watan cards would be distributed amongst the flood affectees within some days while duplicate cards would be issued to those who have lost their cards. Responding to point of order by some Assembly members, Federal Interior Minister Rehman Malik said that the government has made more than 400,000 Watan cards that would be distributed amongst the flood affectees within some days while duplicate cards would be issued to those who have lost their cards and Nadra has 92 per cent

data. Talking about registration and card issuance, he said that task force is being made in this regard. He said "we are trying our best to make process of issuance of cards transparent while all kind of corruption would be removed with in 24 hours". He said that Nadra is working with provincial government while toll free numbers have been set. He said that the government would take all possible steps for rehabilitation of flood affectees and frontier constabulary and police would be deployed at all sites where cards would be distributed. -Online

Seafood output up manifold: minister ISLAMABAD: The Senate was informed Tuesday that as a result of steps taken by the government fish production and export in the country has been increased manifold. Minister for Fisheries Mir Humayun Aziz Kurd while answering questions in the Upper House said that the fish production which was 138 million dollars in 2004 has been increased up to 237 million dollars in the current year. He said increase in production has also been resulted in enhancing income of the people living in the coastal areas. Minister for Health Makhdoom Shahabuddin said the federal government has launched reproductive health programme in all the four provinces and various programmes in this regard have

been completed during the last five years. He said a new programme for care of mothers and children is underway throughout the country which is being supervised by the federal government. Minister of State for Industries Ayatullah Durrani informed the House that Pakistan Steel has faced over 39 billion rupees loss during the last two years. Minister of State for Foreign Affairs Malik Ammad Khan informed the House that there are 920 Pakistani prisoners in Indian jails while 203 Indian prisoners in Pakistani jails. He said that officials in Pakistan High Commission in New Delhi have visited various jails in India to provide them assistance. -NNI

FM floods Turkey with kudos for its aid ISLAMABAD: Foreign Minister Makhdoom Shah Mahmood Qureshi has appreciated the assistance provided by the government and people of Turkey to the flood affected people in Pakistan. The foreign minister met his Turkish counterpart Ahmet Davutoglu on the sidelines of the UN General Assembly in New York, says a press release received here Tuesday from New York. Foreign Minister Qureshi thanked his Turkish counterpart for substantive relief assistance provided by the people

and government of Turkey to flood affected people in Pakistan. He particularly commended private donations from Turkey that reflected strong fraternal and spiritual bonds between the people of the two countries. Ahmet Davutoglu said that the people of Turkey, like always, solidly stand in solidarity with their Pakistan brothers and sisters at this difficult moment. He assured continued support and solidarity of Turkey with Pakistan during relief and assistance phase as well. See # 6 Page 11

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The Financial Daily Epaper - 22-09-2010