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International Karachi, Tuesday, November 2, 2010, Zul-Qa’dah 24, Price Rs12 Pages 12

Malik, Altaf go over Khi affairs

Iraq church raid leaves 52 dead

See on Page 12

Power reforms enter last phase

See on Page 12

Shujaat, Sharif meet seen likely

See on Page 12

See on Page 12

Gondal chairs FCA meeting for Rabi Season 2010-11

Economic Indicators $16.88bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 170.94mn

Forex Reserves (22-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Aug 10) LSM Growth (Aug 10)

GDP Growth FY10E Per Capita Income FY10 Population

Portfolio Investment SCRA(U.S $ in million)

104.72 55.50 0.54 2532

Yearly(Jul, 2010 up to 29-Oct-2010) Monthly(Oct, 2010 up to 29-Oct-2010) Daily (29-Oct-2010) Total Portfolio Invest (22 Oct-2010)

NCCPL (U.S $ in million)

FIPI (01-Oct-2010) Local Companies (01-Oct-2010) Banks / DFI (01-Oct-2010) Mutual Funds (01-Oct-2010) NBFC (01-Oct-2010) Local Investors (01-Oct-2010) Other Organization (01-Oct-2010)

3.75 -0.67 -0.65 -3.00 0.11 0.40 0.06

Global Indices Index Close KSE 100 10,538.27 Nikkei 225 9,154.72 Hang Seng 23,652.94 Sensex 30 20,355.63 ADX 2,803.42 SSE COMP. 3,054.02 FTSE 100 5,713.93 *Dow Jones 11,195.31 *Last Updated 20:00 PST

Change 60.13 47.73 556.62 323.29 12.69 75.19 38.77 76.82

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 2.60 111.57 18.75 160.91 2.00 42.91 1.70 36.47 9.73 33.40

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)

20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010

12.77% 13.08% 13.22% 13.50% 12.67% 12.99% 13.24% 13.62% 13.71% 13.65% 13.74% 13.84% 14.21% 14.34% 14.50%

Commodities *Crude Oil (brent)$/bbl 84.89 *Crude Oil (WTI)$/bbl 83.28 *Cotton $/lb 129.26 *Gold $/ozs 1,354.50 *Silver $/ozs 24.74 Malaysian Palm $ 1,002.00 GOLD (NCEL) PKR 37,578 KHI Cotton 40Kg PKR 8,788

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 84.60 Canadian $ 84.60 Danish Krone 15.00 Euro 118.20 Hong Kong $ 10.85 Japanese Yen 1.050 Saudi Riyal 22.95 Singapore $ 65.80 Swedish Korona 12.30 Swiss Franc 88.40 U.A.E Dirham 23.30 UK Pound 135.70 US $ 85.90

Sell (Rs)

84.70 84.70 15.40 118.70 11.09 1.076 23.10 65.90 12.80 88.90 23.50 136.00 86.20

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

84.75 84.32 16.07 119.88 11.06 1.063 22.87 66.43 12.93 87.20 23.35 137.71 85.82

84.95 84.52 16.11 120.16 11.09 1.066 22.92 66.58 12.96 87.40 23.40 138.04 86.01

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

28°C 34°C 30°C 31°C 24°C 29°C

MIN

10°C 19°C 15°C 13°C 4°C 12°C

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Govt fixes wheat target at 25mn T Sugarcane output estimated at 54mn T ISLAMABAD: Federal The meeting was attended by affected the sugarcane crop and its Government Monday fixed the Minister for Agriculture Punjab Ali production may not match the target. wheat production target for the year Ahmed Aulakh and Secretaries of The sugar production may fall at 3.2 KARACHI: President Asif Ali Zardari presiding over a meeting of 2010-11 at 25 million tonnes, while Provincial Agriculture Departments, million tonnes against the earlier estiProvincial Cabinet Members of PPP at Bilawal House. -APP sugarcane output estimated at 54 AJK and other high officials of vari- mates of 3.0 million tonnes. ous attached departments were presMaize production estimates for the PM stresses for early implementation of EU concessions million tonnes. This was deliberated upon during a ent in the meeting. year 2010-11 were set at 3.5 million meeting of Federal Committee on Briefing the media about the tar- tons with similar requirement. Agriculture (FCA) which met here gets set for the Rabi Season 2010-11, Gram production target was fixed under the chair of federal minister for Nazar Gondal said that potato pro- at 619 thousand tonnes against the food and agriculture Nazar duction target was fixed at 2.94 mil- requirement of 600 metric tonnes, he Muhammad Gondal. lion tonnes against the requirement added. FCA had set a target to produce of 1.7 million tonnes, while onion Meanwhile, the minister directed about 25 million tonnes of wheat for production target was fixed at 1.82 the provinces to devise appropriate the year 2010-11 as against the million tonnes against the require- policy for promotion of pulses like domestic requirement of 23.5 mil- ment of 1500 thousand tonnes. gram and lentil cultivation in their ISLAMABAD: Prime Minister Syed Prime Minister expressed his satisfac- lion tonnes. The provinces informed that flood See # 8 Page 11 Yousuf Raza Gilani has directed the tion over the BISP's planning to expand Chairperson of the Benazir Income its operations from the existing three Scotland Yard hands over dead-body to parents; MQM suspends activities for 3 days Support Programme (BISP) to explore million families to five million families the opportunities of financial support soon after the completion of poverty from the international donors to com- survey. plement the government's efforts in He appreciated the effective service provision of relief to the poorest sec- delivery of the Benazir Income Support LONDON: Scotland Yard has hand- Friday. Later, he will be laid to rest in MQM leader's body to his parents Shuhada Graveyard, after 45 days of his assassination. tions of society. Programme (BISP) to help the most ed over the body of slain leader of MQM's Muttahida Qaumi Movement Dr Yasinabad. Muttahida Qaumi Movement He further said that directions to vulnerable segments of the society. Dr Imran Farooq had been assassi- (MQM) has decided to suspend its Ministry of Water and Power and Prime Minister directed the Imran Farooq to his parents, media nated by unknown men in London on activities for the next three days, in Ministry of Petroleum and Natural Chairperson BISP to expedite the com- reported Monday. According to sources, Dr Imran September 16. view of the arrangements for funeral Resources have already been given to pletion of poverty survey so that more The Scotland Yard handed over the See # 9 Page 11 evaluate the total cost of subsidy on deserving families could be approached Farooq's body will reach Karachi on electricity and gas to the recipients of through this social security net. this programme. Meanwhile talking to Jean Lambert, He was talking to chairperson BISP, MEP, Chairperson, South Asia Farzana Raja, who called on him at PM Delegation of the European Parliament House here. See # 10 Page 11

Gilani seeks int'l donors for BISP

Dr Farooq's body to reach Khi on Friday

1Q corporate profits up 15pc Ahmed Siddique KARACHI: Despite the devastating floods in country, corporate sector's profitability showed a decent growth of 15 per cent, as sectors lessaffected by floods have surged in profitability during the period July to September 2010. According to the TFD Research -which includes 39 companies representing 78 per cent of the total market capitalisation of KSE 100-Index -- total earnings of the companies mounted to Rs63.072 billion ($733 million) in 1QFY11

against Rs54.82 billion ($653 million) in the corresponding period last year. As per TFD analyst, textile, gas marketing company (GMCs), chemicals, exploration & production (E&P), power (IPPs), refineries, and banks showed jumped in their profitability. While cements, oil marketing companies (OMCs), fertiliser, telecom, and auto sector profitability remained depressed owing to weakening fundamentals due to devastating floods and turnover tax. See # 11 Page 11

PM chairs meeting

After POL, power tariff rise on cards ISLAMABAD: Decision has been taken in the senior ministers meeting held here under Prime Minister Syed Yousuf Raza Gilani to drop electricity bomb on masses with raising power tariff by 2 per cent. The meeting took place in Prime Minister Chamber of parliament house on Monday. Federal ministers including Hafiz Shaikh, Naveed Qamar, Raja Pervaiz Ashraf, Khurshid Shah

and Qamar Zaman Kaira attended the meeting. The meeting reviewed the IMF demand and preconditions for raising power tariff by 3 to 4 per cent. Minister for water and power Raja Pervaiz Ashraf took the prime minister into confidence on his talks with IMF, World Bank and Asian Development Bank. Sources told that prime minister had accorded See # 16 Page 11

6 killed in NWA missile strike MIRANSHAH: A US missile strike Monday killed six people and injured 2 in Mir Ali area of North Waziristan district. According to media reports, a US drone aircraft fired three missiles into a house in Haider Ali village killing six people who were present in the house and injuring two. The locals have started relief activities on selfhelp basis and there are fears of more casualties. An official of political administration confirming the attack said that terrorist dens were the target of the missile strike in which 5 militants possibly foreigners have been killed. See # 12 Page 11 LB polls in 6mths

PPP told to start campaign Tanzeel-ur-Rehman

LPG price hits record Rs95000/T

KARACHI: President Asif Ali Zardari Monday asked the Sindh ministers belonging to PPP to step up their contacts with the masses and address their problems by holding open katcheries to brace for the local bodies elections, which would be held in See # 13 Page 11

Govt urged tax free LPG import

Askari named as acting KSE MD

Shiraz Ahmed per tonnes as Saudi Aramco Contract price KARACHI: The price of (CP) climbed by $93 to imported Liquefied $788 in the international Petroleum Gas (LPG) has market. surged by Rs12000 to hit This was stated by the record high at Rs95000 See # 15 Page 11

Raheel Amer KARACHI: The Board of Directors of Karachi Stock Exchange (KSE) held a meeting Monday in See # 14 Page 11


2

Tuesday, November 2, 2010

TCP reports Rs1.6bn PAT in FY10

KARACHI: A petrol pump putting the new price the new price tag on the price board of a fuel station as the prices of petroleum products have been inceased by the government.-Online

DG Health lauds Aman Foundation relief efforts KARACHI: Director General Health, Dr Rasheed Jooma, lauded Aman Foundation's flood relief activities at an event organised to pay tribute to the efforts of its staff deployed in floodhit areas of Punjab, Sindh and Balochistan. "In your quest to bring relief to those affected by the worst floods in Pakistan's history, you experienced tremendous difficulties," acknowledged Dr Jooma. "You made an impression wherever you went," this he emphasised was due to the team's dedication and the quality of service that it provided".

PTC conducts 4-yr degree programme

KU accepts PTC’s affiliation request Staff Reporter KARACHI: Plastics Technology Centre (PTC) Karachi application for affiliation is accepted by the Karachi University and permanent decision of the affiliation will be made by academic counsel soon, sources have said. Plastics Technology Centre (PTC) is being run under the federal ministry of industries and production. Prior applying to the Karachi University for the affiliation, PTC was associated with Hamdard University Karachi. In the letter written by Acting Director, PTC

TUESDAY

TV PROGRAMMES TUESDAY 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

under affiliation head to Hamdard University, despite the fact that institute does not receive any grant from government, besides growing inflation and soaring utility bills add to its financial difficulties. The letter requested to the KU, keeping the above-mentioned facts in fore, affiliate the institute with Karachi University directly. It was learnt that KU has accepted the PTC request for the affiliation and the courses conducted by PTC have also been approved, and hopefully it will soon be awarded the affiliation.

Tanners lash out at oil price rise Staff Reporter

Time Programmes 8:00 Chai Time (Rpt) 9:00 News 9:15 Pehla Sauda 10:00 News 10:15 Bazaar 11:00 News 11:05 Ghar Ka Kharch 12:00 News 12:15 Power Lunch 13:00 News 13:05 Islamabad Say (Rpt) 14:00 News 15:02 Akhri Sauda 15:30 Tax Time (Rpt) 16:15 Karobari Dunya 17:05 Ghar Ka Kharch (Rpt) 18:05 Chai Time 19:00 News 19:05 Aap Ka Paisa 19:30 Mang Raha Hai Pakistan 20:00 News 20:05 Islamabad Say 21:00 Pakistan Aaj Raat 22:00 News 22:05 Doosra Pehlu 23:00 News 23:05 Kamyab (Rpt) 0:00 News

Engineer Shaikh Abdul Raheem to the Vice Chancellor, KU, Dr Peerzada Qasim, it was mentioned that PTC was conducting a 4-year degree programme - BE Polymer -- from 1997 under the affiliation with Hamdard University. More than 10 batches have successfully passed out since. BE Polymer programme also registered with Pakistan Engineering Council, and Higher Education Centre also gave its approval to the degree programme. The letter further elaborated that Plastics Technology Centre was paying heavy amount

KARACHI: Chairman Pakistan Tanners Association (Central), Khurshid Alam has strongly criticized the decision for increasing Energy Tariff by 2 per cent and petroleum products by 9 per cent that will certainly damage the highly value added leather industry which is the backbone of the exporting industry. The export of leather sector industry is facing continuous decline by 30 per cent to $863 Million from $1.220 Billion in its export since 2007-08 while the power tariff was already increased from 63 per cent to 70 per cent and

gas tariff by 48 per cent. Rapid increase in tariff of Power, Gas and Petroleum products would have a very negative impact on the whole leather industry that is already passing through extreme crisis as gas & power load shedding has crippled this continuous processing industry which is engaged in earning sizeable foreign exchange for the country. Intermittent increase in gas and power tariff is causing mayhem as the leather manufacturers & exporters are unable to continue their production activities and are failing to comply with foreign orders on time which is also a great loss to the

national exchequer. He said it is better if the Government should announce in categorical terms to close down the industries because they have totally failed to fulfill the requirements of the industries. The Chairman, PTA appeals to the Government to take stock of the critical situation and withdraw this unbusiness friendly decision immediately to save the leather industry from further collapse. It is the need of hour to give top priority on this matter of high significance to save the exporters of leather industry from colossal loss of business.

Telenor becomes ACCA certified employer

KARACHI: Trading Corporation of Pakistan (TCP) has reported a Profit After Tax (PAT) of about Rs1.633 billions for the year ending June 30. According to TCP here Monday, the profit before tax of the corporation stood at Rs2.035 billion. These figures were presented during the recently held annual general meeting which reviewed the audited accounts for the year 20092010, prepared by Muniff Ziauddin Junaidy & Co. The AGM was told that TCP was incorporated in 1967 with capital of Rs7.5 million which now stands Rs 1 billion by issuing bonus shares. The equity of the corporation including capital and reserves up to year 2009-2010 has surged to Rs6.9 billions. The AGM appreciated the management for bringing discipline in administration expenses and earning better profits with lesser activity during the year compared to previous financial year.-APP

ACCA to hold accountancy moot on 24th Staff Reporter KARACHI: Association of Chartered Certified Accountants Pakistan will be organising Accountancy Futures Symposium on 2425 November here. This unique event will contribute to the forward agenda of the profession, business and society at large, said an official here on Monday. The economic, political and environmental climate has exposed shortcomings in the way public policy and regulation have developed in areas such as financial regulation, financial reporting, corporate transparency, climate change and assurance provision. In response to the challenges presented to the accountancy profession by this new business environment, the official further said. More and more businesses demand from their finance function the ability to think about the future of the business, scan the horizon for business opportunities, design new business models and contribute to the innovation of products, services and processes. As businesses position themselves through unique value propositions to gain competitive advantage, the war for talent will increase. Pakistan with a growing young population of generation Y must appreciate the aspirations of both youth and employers, to leverage on this the symposium features a special session Generation Y: Realizing the Potential.

Broten, Chief Financial Officer, Murtaza Ali, Director Financial Control and Naushad H Javaid, Director People Excellence. Lauding ACCA, Broten commented, 'Telenor and ACCA Pakistan share common values and a commitment to help employees gain excellence in their educational and professional KARACHI: The Pakistan careers.-PR International Airlines Corporation served a "Legal Notice" upon Mubashir Lucman of Express News, a television anchor, for allegedly having uttered defamatory, false and libellous statements against the Corporation and its management representatives through his programme "Point Blank" on 21-102010". A PIA spokesman in a statement issued here on Monday said that the legal notice called upon the anchor and the News Channel to tender an unconditional apology with a warning that failure on the part of the two ISLAMABAD: UAE Ambassador, Ali Saif Sultan Al-Awani cuts ribbon would consequence in a to inaugurate teh Etihad Airlines office during inauguration ceremony law suit.-APP held in Islamabad.-PPI

KARACHI: Telenor Pakistan has climbed up the ACCA professional ladder, by gaining a higher ACCA approved employer status. With this re-kindling of partnership, Telenor proves it mettle as a dynamic organisation working for the benefit, and continuous professional advancement of its employees, said a statement issued here on Monday.

'The experience that the ACCA trainees achieve within Telenor, coupled with an ethics module provides an exceptional platform for professionals to excel in their careers', said Arif Masud Mirza, Head of ACCA Pakistan, in a ceremony held for awarding the Platinum level Approved Employer status to Telenor. Also present at the ceremony was Karl Erik

PIA sends legal notice to TV host

KATI condemns POL price hike the a massive increase in petroleum prices they said that hike price hike is insult to injury for entire industry as the industry is already facing gas and electricity load-shedding. The industrial sector would be totally collapsed after this unbearable increase", warned Chairman, Korangi Association of Trade and Industry (KATI), Syed Johar Ali Qandhari. He further said that the industry is using oil to run the factories due to unabated load-shedding

by KESC increases in cost of oil products would further increase the cost of production and our products would become uncompetitive in international market. He informed that there would be a complete shut-down in all the industrial areas on Wednesday 3rd November if the government would not intervene into the matter and resolve the issue of loadshedding by KESC which has become extremely unbearable.

Port Grand Food & Entertainment complex

LABARD to work for handicaped

M Imran Sharif KARACHI: The Korangi Association of Trade & Industry (KATI) has strongly condemned the recent 9 per cent hike in POL prices by government of Pakistan and demanded for immediate withdrawal of this increase. The Patron In-chief, KATI, S M Muneer, Chairman, Syed Johar Ali Qandhari and Vice Chairmen, Salim-uzZaman and Shahid Qureshi while rejecting

Food street to be opened by Eid KARACHI: Port Grand Food and Entertainment complex, the innovative and unique leisure facility conceived and built by Grand Leisure Corporation with an investment of over 1 billion rupees exclusively by the private sector is now in its finishing stages and is likely to be inaugurated after Eid-ul-Azha. This was shared by Chief Executive of Port Grand Shahid Feroz while talking to media at the preview event of Art Lane at Port Grand. Port Grand Culture and Art hosted a preview event for its special guests, to familiarize them with the project as well as to get

their valuable inputs and feedback. "Port Grand is an effort to revive the culture and traditions of old Karachi as well as celebrate it as the City of Lights. It would revive the harbor culture, i.e. seafood, boating around the mangroves, pedestrian friendly harbor front experience etc." said Shahid Firoz, the spirit behind the project. He said a good omen is that several foreign food chains and retail stores are coming to Pakistan and thus it would send a very positive signal to foreign investors about Pakistan.NNI

LAHORE: The Lahore Businessmen Association for Rehabilitation of Disabled (LABARD) & CARE International on Monday signed a Memorandum of Understanding (MoU) by virtue of which the Care International would extend its best cooperation to LABARD for rehabilitation of disables. LABARD Joint Secretary Mohammad Saeed Khan and Mark Nolan, Chief of Party, USAID Pakistan, JOBS Project, CARE International inked the MoU. The LABARD Governing Body Members were also present on the occasion.-PR

KARACHI: Administrator Karachi Fazl-ur-Rehman pouring mosquito poison in spray machine to start fumingation campaign in Bin Qasim town Razzabad.-Staff Photo

CDGK flexes mucles against dengue fever Staff Reporter KARACHI: Administrator Karachi Fazl-ur-Rehman has said that all arrangements have been completed for treatment of dengue virus. Platelets are available in sufficient quantity while already two special wards were established in Abbasi Shaheed Hospital and another ward will start working from Monday. City Government has made agreement with a private company for supply of platelets. These platelets were being provided to Abbasi Shaheed Hospital and other hospitals of city. He expressed these views while talking to media representative during a visit of Razzaqabad in Bin Qasim Town

on Sunday. City Government Karachi and town administration performed spray in Bin Qasim Town. Relief camps for flood affectees were also covered during the spray. Reviewing the spray work Administrator Fazlur Rehman said that previously health department and town administration committed negligence in the fumigation work that caused unsatisfactory results. Now Municipal Services Department of City Government has arranged thorough and detailed spray in each towns of city with the help of town administration. He said that he himself paid visit to different towns along with EDO Municipal Services and check the spray work.-

AIBP, EGIBL merge to form Al Baraka Bank Staff Reporter KARACHI: Al Baraka Islamic Bank Pakistan (AIBP), the branch operations of Al Baraka lslamic Bank (AIB) Bahrain, a subsidiary of Al Baraka Banking Group (ABG) Bahrain, and Emirates Global lslamic Bank Limited (EGIBL) have successfully merged their operations under the name of Al Baraka Bank (Pakistan) Limited (ABPL). The Head office will be located in Karachi. ABPL will have assets

in excess of Rs50 billion, a workforce of 1400 professionals and a network of 89 branches in 36 cities and towns across the country. ABPL will commence operations from close of business on October 29and subsequently all branches of Emirates Global lslamic Bank will be re-branded as ABPL. The merger, a first in the lslamic Banking sector in Pakistan, positions ABPL to play an important role in further growing an industry which has wit-

nessed tremendous growth over the last 5 years. Substantial capital resources, combined with a nationwide branch network will enable ABPL to provide a full range of lslamic banking services, supported by the experience and expertise of the parent company, ABG. The operations of AIBP date back to 1991, and at the time of merging its operations, it had 29 branches across Pakistan, an asset base of Rs. 31 billion and profit before tax of Rs.168 million.


3

Tuesday, November 2, 2010

Swiss franc weakens ZURICH: The Swiss franc fell against the euro and dollar on Monday after unexpectedly strong manufacturing data from China encouraged investors to move into riskier assets. Markets will now eye Switzerland's purchasing managers' index (PMI) for more clues about the strength of the Swiss economy, which is expected to slow in the coming months after recent brisk growth. "PMI in China was a positive surprise and this has boosted risk appetite. The next important indicator is the US ISM and if this is positive this could also be a boost to risk appetite," Credit Suisse analyst Sven Schubert said. At 0804 GMT, the franc was trading at 1.3784 per euro, down from Friday's New York close of 1.3700 per euro as the Swissie continued its recent downward trend against the common currency after rallying earlier this year. Against the dollar, the franc was trading at 0.9861 per dollar, down from the New York close of 0.9820. -Reuters

Dollar cheered by ISM data, but gains fleeting ISM manufacturing report spurs dollar short-covering NEW YORK: The dollar firmed against the euro and yen on Monday after strongerthan-expected US manufacturing data, though gains were fleeting as markets braced for more monetary easing from the Federal Reserve this week. The Fed is likely to announce on Wednesday a fresh round of quantitative easing under which the US central Bank would buy bonds and essentially flood the economy with dollars in an attempt to revitalize it. That should push Treasury yields lower and diminish the allure of some US assets, forcing investors to seek higher returns elsewhere. An above-forecast October reading of US manufacturing conditions from the Institute for Supply Management on Monday did nothing to significantly change the market's

view on the expected easing. Most economists expect the Fed to buy $80 billion to $100 billion in assets per month, according to a Reuters poll. Estimates of total purchases ranged from $250 billion to $2 trillion. "The dollar is starting to rebound a little bit off the better-than-expected ISM data. But we're still within the ranges we have seen the last couple of days," said Greg Michalowski, chief currency analyst at the New York-based online broker FXDD. "I think the market was expecting a weaker ISM to keep the dollar on the defensive going into all the events this week. But the data came in strong so traders were forced to cover some of their short positions." Japanese intervention fears

came to the fore again on Monday after a spike in the dollar versus the yen following the pair's fall to a fresh 15-year low. That further added uncertainty to a market already jittery about Wednesday's Fed decision, although trades were confined to a narrow price range. In midday trading, the dollar was up less than 0.1 per cent against a basket of six currencies at 77.285. Some analysts said dollar short positions have become overstretched as investors priced in aggressive Fed easing, leaving scope for a pullback in the dollar if the Fed announces a smaller round of purchases. There are also significant events this week, leaving most investors sidelined, traders said. As well as the Fed, there

SINGAPORE: Emerging Asian currencies extended their 2010 rally on Monday, supported by surprisingly strong Chinese manufacturing data which underscored the region's solid growth potential. Broad weakness in the US dollar also helped buoy Asian currencies as dealers nudged up their bets against the currency ahead of a Federal Reserve policy meeting on Tuesday and Wednesday. The South Korean won was big mover on the day, buoyed by exporter demand, though gains were checked by fears that the government will

impose tougher measures to control hot money inflows. The won strengthened to 1,115.3 per dollar, its highest since Oct. 26, but was last quoted at 1,116.4. "Exporters' demand is stronger than expected, lifting the won. But I wonder how much further the won will rise as caution is also growing around 1,115," said a local bank dealer in Seoul. Online news outlet Yonhap Infomax quoted an unnamed finance ministry official as saying the government was preparing measures to ease volatility from capital flows.

Sterling climbs on UK PMI data LONDON: Sterling rose against the euro on Monday after better-than-expected UK manufacturing data boosted confidence in Britain's economic recovery and lessened the chances of fiscal stimulus from the Bank of England. The Markit/CIPS's headline manufacturing Purchasing Managers' Index (PMI) rose to 54.9 in October, its highest level since July, confounding economists' expectations for a fall to 53.1. The UK PMI data came less than a week after GDP data revealed the economy grew at twice the rate expected in the third quarter, weakening the hand of BoE doves calling for further quantitative easing. Under such easing, the central bank would pump more pounds into the system by purchasing more UK assets from the market, which would lead to a currency depreciation. "Sterling is off the hook with respect to QE, at least for now," said Jane Foley, senior currency strategist at Rabobank, who predicted the rally against the euro could continue. "There's an awful lot of bad news in the price of the pound

and plenty of scope for sterling to appreciate next year if the news consistently surprises on the upside." In a rally sparked by the release of the PMI data, sterling climbed to 86.59 pence against the euro, its highest level since Oct. 5. Sterling's broad gains took it to a one-month high on a trade-weighted basis of 80.48. It jumped to a session high of $1.6090 against the dollar before paring gains following stronger-than-forecast US manufacturing data. By 1545 GMT, the pound was trading more or less flat at $1.6040. Ahead of the BoE's Monetary Policy Committee announcement on Thursday the market will keep a close eye on PMI construction and services on Tuesday and Wednesday respectively. Volumes jumped last month, hitting its highest since June and picking up after a slump in JulySeptember. At the same time, however, trading volumes for the euro/sterling pair slipped in October from the previous month, suggesting the extent to which market participants have been focused on selling the US currency. -Reuters

Finance ministry spokesman Yoon Yeo-kwon told Reuters the ministry was examining various measures, but had made no decision yet. Foreign investors remained net sellers of local stocks, unloading a net 54.9 billion won on the main exchange. The Malaysian ringgit rose 0.5 per cent, boosted by expectations of further policy easing by the Fed and gains in the Singapore dollar. Traders expect the ringgit to test 3.0900 but investors are wary of central bank intervention around 3.0920-3.0950. Reuters

Taiwan dollar climbs on China data TAIPEI: The Taiwan dollar closed at a 27-month high on Monday as growth-linked assets in Asia rose on strong manufacturing data from China and expectations of a monetary easing decision this week in the United States. A final price of T$30.695 per US dollar, compared with Friday's close of T$30.782, was the strongest since Aug. 4, 2008. Investors gobbled up stocks and high-yielding currencies after two China PMI indices showed October manufacturing at sixmonth highs in the world's No.2 economy and Taiwan's top export market. "PMI in China is very strong, and Taiwan is well leveraged to what's happening in China," said Patrick Bennett, forex strategist with Standard Bank in Hong Kong. A hefty T$16.651 billion ($542 million) worth of foreign funds parked in Taiwan stocks on Monday lifted both local shares and the currency market. The island's central bank would step up intervention if easing in the United States opened the forex market to hot money, making the Taiwan dollar more expensive for exporters, analysts predicted. It was seen intervening on Monday to pare gains. The authority has bought roughly $5.8 billion in US currency since Sept. 27, according to an IFR Markets survey of traders. -Reuters

are four other major policy decisions this week -- in Australia, the euro-zone, UK and Japan -- with key US jobs data due Friday. The euro was down 0.5 per cent at $1.3879 after climbing to $1.4012 overnight. The euro was also weighed down by gains in the pound, traders said, after UK data showed an above-consensus manufacturing index. The euro was down 0.4 per cent at 0.8660. The dollar rose 0.4 per cent to 80.68 yen, mostly on the ISM data. It earlier spiked more than one yen to 81.60 yen in Asian trade. The Australian dollar was up 0.3 per cent at US$0.9865, buoyed by strong data from China, the biggest buyer of Australian commodities. Reuters

NZ $ climbs to 27-mth highs, strong China data buoys SYDNEY/WELLINGTON: The New Zealand dollar flew at its highest level in over two years on Monday, while the Australian dollar was bolstered by data showing surprisingly strong manufacturing activity in top export market China. The kiwi built on Friday's offshore gains to rise as far as $0.7675, its highest since late July in 2008, before pulling back a touch in later trade to $0.7660. Short-covering in a thin market, underpinned by the prospect of further NZ central bank rate rises and the possibility of further US pump priming by the Federal Reserve later this week were reasons cited for its strong performance. "An additional programme of quantitative easing can be expected to provide continued support to the current elevated level of the NZ dollar-US dollar cross rate," said First NZ Capital director of economics and strategy, Chris Green. The kiwi's next hurdle is the psychological barrier of $0.7700 and then around $0.7720,

with support at around $0.7605. The Aussie was firm at $0.9880 and approaching resistance at $0.9900, which is close to the 76.4 per cent retracement of its drop from $0.9973 to $0.9653. Support was at $0.9851, the 61.8 per cent retracement of the move. The two commodity currencies drew support from data showing China's official purchasing managers' index for manufacturing rose well above expectations to a six-month high of 54.7 in October, underlining the strength of the world's second-biggest economy. The China data helped to offset the widespread expectation that the Reserve Bank of Australia (RBA) will not raise interest rates at its policy meeting on Tuesday, with the chance of a 25 basis point rise to 4.75 per cent put at a less than one-in-four chance . The Aussie/kiwi pair bounced back from Friday's seven-week low of NZ$1.2785 offshore to settle around NZ$1.2890. -Reuters

western region of Xinjiang be settled in yuan, the country's first such trial after a scheme for yuan trade settlement was expanded this year. The PBOC set the mid-point, or its reference rate from which the yuan can rise or fall 0.5 per cent in a day, at 6.6886 on Monday, slightly stronger than Friday's 6.6908. "The mid-point was a sort of disappointment as the market expects the yuan to appreciate this month ahead of a slew of political events," said a dealer at a European bank in Shanghai. Reflecting the disappointment, the yuan closed at 6.7015 against the dollar on Monday, down from Friday's close of 6.6708. It has now risen 1.86 per cent since the PBOC depegged it from the dollar on June 19. Offshore, benchmark oneyear non-deliverable forwards (NDFs) fell to its lowest intraday level in more than a week to 6.4280, dropping sharply from a recent peak of 6.5230 hit last Thursday, with their implied 12-month yuan appreciation rising to 4.05 per cent from 2.69 per cent. -Reuters

Rupee slides; Coal India refunds weigh MUMBAI: The Indian rupee was wedged in a tight band on Monday as dollar outflows related to Coal India's share sale oversubscription offset positive sentiment from buoyant shares and a broadly weaker dollar. The partially convertible rupee closed at 44.47/48 per dollar, a little weaker than its 44.43/44 close on Friday. It traded in a range of 44.3544.48 during the day. The government will raise close to $3.5 billion from the sale of a 10 per cent stake in Coal India, the world's largest coal miner. The initial public offering was roughly 15 times subsribed. Its shares will begin trading on Thursday, and the refunds from excess subscriptions are expected this week. Foreign funds have purchased shares worth a record $24.8 billion so far this year, helping the rupee gain 4.6 per cent. The Reserve Bank of India on Tuesday is expected to raise rates for the sixth time this year to batten down stub-

Source

2:45

NZD

Labor Cost Index q/q

0.5%

0.4%

8:30

AUD

Cash Rate

4.50%

4.50%

13:15

CHF

Retail Sales y/y

1.4%

0.1%

2nd-8th

GBP

Halifax HPI m/m

0.4%

-3.6%

14:30

GBP

Construction PMI

53.1

53.8

Previous Day

Strong Chinese data adds Yuan ends lower fuel to Asian FX rally SHANGHAI/HONG KONG: Spot yuan ended down against the dollar on Monday after the Chinese central bank fixed a mid-point lower than the market had expected, but dealers said recent developments in offshore yuan trading in Hong Kong will add pressure for yuan appreciation in the long term. Due to strong demand for yuan in Hong Kong, the territory's central bank stepped in to settle trade-related yuan transactions after Bank of China, the sole lender authorised to clear such trades with the mainland, ran down its quota for the year. The premium for yuan traded in Hong Kong rose to 1,131 pips over the mainland's spot rate on Monday, up from 980 pips at the close on Friday, although that was still less than a record 1,790 yuan hit on Oct. 18. China has been trying to raise the profile of its currency abroad via reforms, including permitting exporters and importers to use the Chinese currency for settlement with restrictions. In the latest of such moves, China will let some cross-border investment flows in the far

Top Economic Events Events Forecast Previous

Time

bornly high inflation pressures, a Reuters poll showed. Traders said losses in the dollar versus majors limited a further slide in the rupee. One-month offshore nondeliverable forward contracts were quoted at 44.64, 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 United Stock Exchange closed at 44.7050, 44.7050 and 44.7250 respectively, with the total traded volume on the three exchanges at about $5.9 billion. -Reuters

Source

Events

CNY

Manufacturing PMI

Actual

JPY

Forecast Previous

54.7

53.5

53.8

Average Cash Earnings y/y

0.9%

0.5%

0.4%

CNY

HSBC Manufacturing PMI

54.8

CHF

SVME PMI

59.2

59.5

GBP

Manufacturing PMI

54.9

53.2

53.4

USD

Core PCE Price Index m/m

0.0%

0.1%

0.1%

USD

Personal Spending m/m

0.2%

0.4%

0.5%

USD

ISM Manufacturing PMI

56.9

54.2

54.4

USD

Construction Spending m/m

0.5%

-0.5%

-0.2%

USD

ISM Manufacturing Prices

71.0

70.7

70.5

52.9 59.7

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 01/11/2010 A USD GBP CAD EUR JPY O/N 0.22563 0.55375 1.02333 0.68250 SN 0.09438 1WK 0.24841 0.55563 1.05000 0.73375 0.10688 2WK 0.25000 0.56000 1.07167 0.75750 0.11250 1MO 0.25375 0.56875 1.10750 0.80375 0.12563 2MO 0.26859 0.62688 1.15917 0.86250 0.15438 3MO 0.28594 0.74100 1.21833 0.98875 0.19750 4MO 0.33500 0.82413 1.27667 1.04438 0.28125 5MO 0.39625 0.92813 1.33667 1.13000 0.33813 6MO 0.44563 1.03000 1.40583 1.22438 0.39750 7MO 0.49350 1.10375 1.46083 1.27563 0.45750 8MO 0.54125 1.18725 1.54333 1.32250 0.50375 9MO 0.59313 1.26813 1.60750 1.37375 0.55375 10MO 0.64750 1.34250 1.68083 1.41813 0.58250 11MO 0.70281 1.41000 1.75917 1.46125 0.61063 12MO 0.76038 1.48038 1.84500 1.50688 0.63813 Major Central Banks Overview Central Bank

Next Meeting

Last Change

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

Dec 07 2010 Nov 04 2010 Nov 05 2010 Nov 04 2010 Nov 03 2010 Dec 16 2010 Nov 02 2010

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

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

Division of National Bank of Pakistan (NBP) KARACHI, November 01,2010 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. 85.95 85.75 85.560 U.K. 138.04 137.71 137.400 EURO 120.16 119.88 119.600 CANADA 84.52 84.32 84.100 SWITZERLAND 87.40 87.20 86.970 AUSTRALIA 84.95 84.75 84.530 SWEDEN 12.96 12.93 12.890 JAPAN 1.07 1.06 1.060 NORWAY 14.73 14.70 14.660 SINGAPORE 66.58 66.43 66.250 DENMARK 16.11 16.07 16.030 SAUDI ARABIA 22.92 22.87 22.810 HONG KONG 11.09 11.06 11.030 CHINA 12.88 12.85 12.810 KUWAIT 306.22 305.51 304.700 MALAYSIA 27.76 27.70 27.620 NEW ZEALAND 65.86 65.71 65.540 QATAR 23.61 23.56 23.490 U.A.E. 23.40 23.35 23.290 KR WON 0.08 0.08 0.077 THAILAND 2.88 2.87 2.864

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for November 01, 2010

CMKA

BMA

INVSR

GSL

ICSL

0-7days

11.90

11.50

11.70

11.75

11.80

JSCM AvgRate 11.65

8-15dys

12.10

11.90

11.95

12.00

12.00

12.00

11.99

16-30dys

12.30

12.20

12.20

12.20

12.25

12.20

12.23

31-60dys

12.42

12.42

12.50

12.40

12.45

12.45

12.44

61-90dys

12.67

12.66

12.70

12.67

12.70

12.65

12.68

91-120dys

12.85

12.75

12.82

12.85

12.85

12.80

12.82

121-180dys

12.95

12.92

12.98

13.02

13.00

12.96

12.97

181-270dys

13.10

13.05

13.08

13.12

13.10

13.06

13.09

271-365dys

13.15

13.10

13.18

13.22

13.20

13.16

13.17

2-- years

13.38

13.30

13.40

13.40

13.40

13.35

13.37

3-- years

13.65

13.65

13.65

13.65

13.60

13.70

13.65

4-- years

13.70

13.70

13.72

13.68

13.73

13.72

13.71

5-- years

13.72

13.72

13.74

13.74

13.75

13.74

13.74

6-- years

13.75

13.75

13.75

13.75

13.75

13.75

13.75

7-- years

13.75

13.75

13.75

13.76

13.75

13.75

13.75

8-- years

13.78

13.77

13.75

13.77

13.75

13.75

13.76

9-- years

13.80

13.77

13.77

13.65

13.75

13.78

13.75

10--years

13.80

13.80

13.82

13.90

13.85

13.85

13.84

15--years

14.20

14.20

14.22

14.20

14.20

14.25

14.21

20--years

14.35

14.35

14.35

14.35

14.30

14.35

14.34

11.72

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

AUD/USD EUR/CHF EUR/GBP EUR/JPY

week month months months year years

-0.50 -0.67 -0.83 -0.81 -0.47 -0.61

-0.41 -0.56 -0.17 0.68 0.62 0.68

0.17 -0.50 -0.87 -0.32 0.29 0.14

0.53 0.80 -0.38 0.22 0.54 0.61

EUR/USD GBP/USD -0.63 -0.69 -0.80 -0.83 0.00 -0.06

-0.62 -0.09 -0.42 -0.88 -0.25 -0.16

NZD/USD USD/CAD -0.93 -0.64 -0.80 -0.76 -0.49 -0.60

0.94 -0.03 0.54 0.37 -0.01 0.57

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)01/11/2010 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

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

ABLN 11.50

12.00

11.70

12.20

12.00

12.50

12.75

13.00

12.90

13.15

13.10

13.60

13.25

13.75

13.35

13.85

JSBL

ABPL

ASK

11.60

12.10

11.75

12.25

12.15

12.65

12.75

13.00

13.05

13.30

13.20

13.70

13.30

13.80

13.50

14.00

ASPK 11.60

12.10

11.80

12.30

12.15

12.65

12.70

12.95

13.00

13.25

13.10

13.60

13.20

13.70

13.30

13.80

CIPK

11.50

12.00

12.00

12.50

12.20

12.70

12.50

12.75

13.00

13.25

13.10

13.60

13.20

13.70

13.30

13.80

DBPK 11.70

12.20

11.90

12.40

12.00

12.50

12.65

12.90

12.90

13.15

13.15

13.65

13.25

13.75

13.35

13.85

FBPK

11.50

12.00

11.80

12.30

12.05

12.55

12.65

12.90

13.00

13.25

13.10

13.60

13.15

13.65

13.40

13.90

FLAH 11.65

12.15

11.80

12.30

12.20

12.70

12.75

13.00

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

HBPK 11.60

12.10

11.80

12.30

12.25

12.75

12.75

13.00

13.00

13.25

13.10

13.60

13.20

13.70

13.35

13.85

HKBP 11.70

12.20

11.85

12.35

12.20

12.70

12.70

12.95

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

NIPK

11.40

11.90

11.95

12.45

12.50

13.00

12.85

13.10

13.00

13.25

13.10

13.60

13.20

13.70

13.30

13.80

HMBP 11.65

12.15

11.80

12.30

12.40

12.90

12.80

13.05

13.00

13.25

13.15

13.65

13.20

13.70

13.30

13.80

SAMB 11.50

12.00

11.75

12.25

12.25

12.75

12.80

13.05

13.00

13.25

13.15

13.65

13.25

13.75

13.35

13.85

MCBK 11.50

12.00

11.80

12.30

12.15

12.65

12.80

13.05

13.05

13.30

13.20

13.70

13.30

13.80

13.50

14.00

NBPK 11.50

12.00

11.75

12.25

12.10

12.60

12.75

13.00

12.80

13.05

13.10

13.60

13.20

13.70

13.30

13.80

SCPK

11.90

11.75

12.25

12.10

12.60

12.70

12.95

12.95

13.20

13.10

13.60

13.15

13.65

13.35

13.85

11.40

UBPL 11.75

12.25

11.85

12.35

12.20

12.70

12.70

12.95

13.00

13.25

13.15

13.65

13.20

13.70

13.35

13.85

AVE

12.06

11.80

12.30

12.17

12.67

12.74

12.99

12.99

13.24

13.12

13.62

13.21

13.71

13.33

13.83

11.56


4 Tuesday, November 2, 2010

The Financial Daily International Vol 4, Issue 87

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi

Resolving Economic Problems

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

Nov dawns in POL pains The latest hike in POL prices has attracted criticism from general public, industry and public representatives alike. The consensus is that it was an uncalled for increase which would further push the inflation up. The worst part is that, every time, when a substantial hike is anticipated most of the petrol pumps stop sales nearly 8-10 hours prior to the official announcement, only to make inventory gains. And it goes without saying that oil marketing companies make a windfall profit. Motorcyclists belong to lower income group and are the worst victims of hike in motor gasoline prices. Car-owners who mostly use CNG suffer as well, but to a lesser extent, when authorities opt for closing CNG stations under gas load management plan. The successive hike in high speed diesel (HSD) has made it even more expensive than motor gasoline. The worst affected from this rise are the users of public transport. Transportation charges for every thing have increased but fares of buses and coaches have grown out of proportion. It is on record that whenever diesel price is increased public transport fares are increased within hours but no reduction is made when government revises the price downward. The experts have consensus that the pricing formula is faulty and public also has the reasons to trust them because the government is not willing to make it public. Experts believe that the reason for evasion is simple, lust for maximising collection of petroleum development levy. The present government is not alone, the practice has been going on for the last three decades. One could also give benefit of doubt to the government because crude oil has been stagnant for sometime but prices of refined products are on the rise, mainly because of closure of some refineries around the world. However, it is not a very strong argument because mostly POL buy/sale contracts are long term and immune from seasonal variation. It has been repeatedly highlighted that pricing formula should be made public. It is also Public Accounts Committee’s (PAC) responsibility to stop the government from penalising consumers. Electricity consumers are already suffering because of inefficient thermal power plants. Running these plants on gas has not yet benefited the consumers, worst off are those who still bother to pay their electricity bills. There is also a need to revisit margins of the refineries, currently operating at less than 70 per cent capacity utilisation. However, this can't be done unless intercorporate debt issue is resolved. The habit of sweeping the issue under the carpet maybe one of the debt-boosters but the real issue plaguing the energy sector is nonpayment of power bills on the part of government and semi-government offices coupled with rampant pilferage by “whoever wants to”.

Disclaimer:

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

Muhammad Arif

E

conomically Pakistan has never remained better off but the things have moved to the worst in the last two years and there seems no relief in sight. It is obvious that the reasons for current situation stem from the political and economic policies of the decision makers. However, we should not forget that current situation is nothing but a period of transition from a despotic to somewhat democratic system. This is a new experience for the people of Pakistan. Further potential leadership is also missing, one being assassinated in December 2007 and the other constrained to keep himself away from politics till December, 2010 under some agreement. In a situation like this, incompetent or inexperienced leadership comes on surface only to fill in the vacuum and people have to pay a price for that. It is also a fact that period onward 2007 remained highly turbulent on international as well as national fronts. Cycle of recession is on globally whereas factors like fighting the war on terror as a front line state has added to the miseries of Pakistan. Target killing in Karachi is another subject which is creating substantial chaos. Rising cost of living has made the life of common man unbearable. Economic base has gone more fragile on account of flood devastation. Pakistan is now at the verge where on one side there seems no growth and on the other side menace of inflation is on attack. These culprits have to be tackled immediately otherwise people of Pakistan would have to face further sufferings. To resolve the crisis 'political will is necessary. What in fact is meant by the political will? This includes 1) Following good governance to make right decisions and 2) ensure proper implementation of the policies. The process requires complete support of all political parties irrespective what they think and what they like. The main stakeholder in the process is the Government and obviously it has to play a major role. However, going through this process no bargaining should be allowed especially on the law and order situation with particular reference to situation in Karachi, Balochistan and Khyber PakhtunKhwa. Merit should be the key word in dealing with this entire situation. Role of media is also important in substantiating political will in the country. With this vision they can play a meaningful role in getting this theme realized. No doubt for getting their income they sometime go out of box which on the short run can bring

them some success or better ratings but in the long run that can not be sustained. This attitude can be fatal for their organization and the country itself in the long run. Coming to economy, there can be different versions or solutions for its recovery. However, in the current stalemate, growth seems to be the main issue rather than inflation that can not be contained by curtailing aggregate demand. Main concern in this regard seems to be the Government borrowings from the SBP, Rs 185 billion as of September,

(Government deposit account -1) and from their profit and principal is paid without ascertaining that it is tax payers money or of someone else. The writer before leaving SBP had worked on this subject and as solution had drafted new legislation for government borrowings. Until that is policy is implemented, things would not improve. Since new governor, Shahid Hafeez Karadar is committed to bring fiscal discipline, so he is urging upon to follow this process. Even for any help I or some other experts from the market can be con-

The process requires complete support of all political parties irrespective what they think and like.

2010 against zero targets for the ongoing financial year. In a TV talk show, somebody was commenting that since this kind of borrowing is non sensitive to interest rate, so it can not be stopped. This is right to say but the basic reason for this situation is the fact that entire profit of SBP goes to the government so practically speaking government incurs no cost for its borrowings from the SBP, however it adds to inflation as it affect prices in the market for which people have to suffer. Further, since head line inflation i.e. CPI has shown 15per cent increase in September, 2010 on YoY basis and has been projected 14-15% on average for FY 20100, so as per its basket, food items, the main component (42 per cent) would rise immensely that can go more than 50 per cent and in case of supply obstructions in some items can rise above 100 per cent, This would be the difficult time that government and people would have to face. From December, 2010 onward prices of some perishable items like Tomato, onion or potato can come down as their supply from

tacted. Another issue has been raised by Dr. Ishrat Husain, former governor of the central bank. He is in support of expanding personnel loans on the plea that these create middle class in the society that increases consumption and ultimately helps in increasing production. Currently, due to increase in discount rate and KIBOR, the size of personnel loans has come down drastically as compared to the regional countries. In principle his argument is right

while borrowing, government should adopt balance sheet approach but the flaw is that to keep budgetary deficit down government did not borrow heavily in 2002-05 when 6month Treasury Bills rate hover around one per cent and 10-year PIB around 4 per cent. In case government had borr o w e d e x c e s s amount at that time at cheap rate, this could have been diverted towards some developmental projects particularly infrastructure and energy sectors. We are paying for this flaw. Secondly Pakistan did not develop supply chain as India did to support consumer loans. Say for example our two main sectors i.e. auto or cell phones are dependent up to 70-80 per cent on import as well as their spare parts. This is not the case in India and they produce 80% of such parts indigenously. Thirdly India is producing its electricity mainly from coal which is not the case in Pakistan. Even when Dr. Ishrat was governor or Dr. Asfhaque was advisor to the government, no serious effort was made to use coal for generating electricity. Thar coal project is still in doldrums. In achieving fiscal discipline one of the major impediments is the subsidy provided to the public Sector Enterprises (PSEs). The amount of such subsidy is around Rs 300 bil-

One may agree or not but this setup should be given time to complete its tenure and after elections new government should also be given the opportunity domestic market would start coming in. Now, with regard to inflationary pressure, governor SBP, its report and other economists have indicated main reason for it as Federal Government borrowing from the SBP. The writer has time and again emphasized that it can not be stopped by issuing mere statements. Fiscal Discipline as Dr Ashfaque is very much emphasizing and rightly so after coming out of the government can not be obtained without making structural changes. Structural changes mean that by law government should not be allowed to borrow from the SBP in terms of some percentage of its revenue, say 10 or 15 per cent of its revenue. Till this is not done the fiscal discipline cannot be achieved at least in Pakistan. Second issue is that while borrowing, government should adopt balance sheet approach. Currently what is borrowed is put in a well

lion. This is waste of money as their deficits mainly arise from high administrative expenses. Since these are PSEs, when the government tries to raise funds for these through capital market the implicit guarantee has to come from the government and almost all the exercises prove futile. Only solution is privatization or restructuring of these entities in the true sense. To achieve this all CEOs of these PSEs should be removed and new CEOs should be appointed through a transparent process and by constituting new boards of directors. One more point is important and that is the PSDP. The funds allocated for development always come under cut whenever government feels some heat. This is wrong. The allocations may be reviewed but not to be cut drastically otherwise the country can not move forward. Another important issue is that the tax structure is highly fragile. No one can run the country when tax recovery is less than 10 per cent of GDP. IMF/World Bank and other donor countries are right in saying that if you can not recover taxes from the wealthy people in Pakistan than you have no right to come to us. VAT or RGST or flood tax as direct tax is to be levied and should be supported. People living in houses built on acres with number of cars and luxury items simply refuse paying taxes by saying that the government is corrupt and they have no faith in them. RGST simply means addition of services sector (wholesale and retail) with importers and manufacturers. Further FBR have to arrange a campaign through which our economy which is 50% documented may be documented further. Thereafter we can go for agriculture tax and that too at provincial level. Finally one must say that our political scenario is highly polluted which is not conducive for bringing any stability in the economy. No body is listening to any one and this should be changed. We must realize that the situation is different from the one faced by previous elected government. We must try to learn lesson from history and move forward. There is a debate going on, regarding a report issued by the Transparency International that Pakistan has gone further corrupt. This is true or not is another debate, but one thing is certain that countries with democratic base are less corrupt. According to the report Bangladesh which has switched over to democracy after bitter experiences of military dictatorships is now becoming less corrupt after being blessed with democratic set up. This is the lesson which every one should learn. Some politicians in our country are looking keen in dislodging the current political setup. One may agree or not but this set up should be given time to complete its tenure and after elections new government should also be given the opportunity. Only through this process we can achieve a democratic setup and some kind of accountability. The writer is visiting lecturer at Sheikh Zayed Sultan Institute, University of Karachi and BIZTEK E-mail: arifsbp@hotmail.com

A Bomb in the Mail S

ecurity fears triggered by the air freight bomb plot could increase the costs of global trade and fuel debate over the technology needed to screen packages and who should pay for it, transport officials said on Sunday. Two air packages containing bombs -- both sent from Yemen and addressed to synagogues in Chicago -- were intercepted in Britain and Dubai on Friday. One of the packages was found on a United Parcel Service cargo plane at East Midlands Airport, north of London. The other was discovered in a computer printer cartridge in a parcel at a FedEx facility in Dubai. The plot could speed up calls for wider use of sophisticated imaging technology designed to detect explosives, which is not standard, but freight firms are reluctant to bear the full cost. "The technology used for screening of cargo, typically by X-ray, ... doesn't have explosive detection capacity, but it does enable them to find most things," said Norman Shanks, a former head of security at the British airports operator BAA. "But cleverly concealed

devices like this might suggest that there will have to be an ability for an explosive detection capacity such as CT (computed tomography)," said Shanks, who now works as a specialist aviation security consultant. tomography is a medical scanning technology designed to display sectional images. Its attraction for security firms was highlighted when France's Safran paid $580 million a year ago for 81 percent of GE Homeland Protection, which supplies the technology. British Home Secretary (interior minister) Theresa May said security around air cargo arriving in Britain was being reviewed, but stopped short of saying a tighter system was being planned. Marco Sorgetti, directorgeneral of CLECAT, a European association of freight-forwarding companies, said there were fears of a knee-jerk reaction to the security scare. "Although this is a clear example where targeted investigation pays, some will say this is why we need 100 percent scanning. What happened doesn't make it (100 percent scanning) one inch better in terms of risk analy-

sis, but emotionally people will say we have to do this." Freight firms clashed with US and European policymakers last year over calls for 100 percent scanning of sea containers. Plans to introduce full scanning from 2012 were postponed. Shippers say targeted intelligence work is more effective than faith in a blanket technological approach with no guarantee of success, given the minute quantities needed to pose a threat. They say the intelligence tip-offs linked to Friday's discovery demonstrate that existing systems work. But some analysts say the cargo industry has for long enough escaped the stringent attention given to passenger security, or freight carried in the cargo holds of passenger airliners. "Although there has been a lot of talk about the air cargo security regulations, most of these regulations affect the cargo that is placed on commercial passenger aircraft, not all-cargo operators," said Jeff Price, lead author of "Practical Aviation Security: Predicting and Preventing Future Threats". TWO-TIER SYSTEM The World Customs

Organization distinguishes between screening -- risk assessment based on the origin and other information; scanning -- which involves X-ray or gamma-ray machines scanning closed packages; and full physical inspection. Shanks said introducing full scanning globally would be unaffordable -- but authorities may toughen a two-tier approach: "I think it will have to be affordable for packages of cargo coming out of countries that are known in the past to have caused problems. This will have to be a cost that is either picked up by the state itself or added onto the shipment." FedEx and UPS, respectively the world's largest and second largest carriers of air freight by volume, are just the tip of a multi-billion-dollar logistics industry responsible for keeping global supply chains running smoothly. "In the past five or six years we saw logistics costs go up due to the movement of production plants to other areas in the world. A big security focus might put the costs up further," said Nicole Geerkens, top executive at the European Logistics

Association. "Now there is a trend where people are considering whether to in-source," or repatriate production, she added. Analysts say logistics represent up to 15 percent of the value of goods, depending on the type of business and economy. "Depending on how you look at it, logistics probably cover about 10 percent of everyone's lifestyle," Sorgetti said. The plot puts worldwide attention on security just as cargo companies struggle to maintain a recovery in air shipments seen over the past year. Any lasting economic damage may be felt more widely. "It's our response that achieves the true outcomes of the attack, not the attack itself," said Price. "Recall the after-effects of 9/11. Economic recession, airline bailouts, the largest governmental bureaucracy created since World War Two. We now spend billions of dollars a year on homeland security, and the attacks have forever changed the way in which we travel."Reuters


5

Tuesday, November 2, 2010

South East Asian stocks

Upbeat economic data lifts EU shares; Fed eyed

Mostly up after China PMI data; Thailand at 14-yr high

KSE-100 Index Opening Closing Change % Change Turnover (mn)

Tech correction hangs in at KSE, so does the losses

10,598.40 10,538.27 60.13 0.57 80.54

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

3,300.73 3,280.67 20.06 0.61 4.06

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

2,696.46 2,673.72 22.74 0.84 0.16

Nawaz Ali KARACHI: Technical correction remained the order of the first trading day of the week at Karachi Stock Exchange (KSE) and forced it to close under 10,600 points level on Monday. The benchmark KSE 100Index ended 60 points down at a level of 10,538 points while KSE 30-Index lost 65 points to close at 10,089 points and KSE All Share Index decreased by 41 points to close at 7,340 points. Trading began on a positive note at 2 points up; after which it managed to stay in the bullish territory during the major part of the day where index touched an intra-day high of

Major Gainers

Symbol UPFL PECO IDYM PKGS SAPT

Close

Change

1,050.00 299.00 258.94 106.07 94.20

50.00 7.52 7.32 5.05 4.40

Major Losers

Symbol

Close

Change

RMPL 1,608.36 ULEVER 4,037.50 WYETH 778.09 BATA 558.20 SIEM 1,238.99

-72.7 -51.17 -31.91 -28.95 -10.47

Top 5 Volume Leaders

Symbol PSAF AMTEX FATIMA JOVC SILK

Close Vol (mn) 7.52 5.27 9.56 4.80 2.58

7.51 4.90 3.95 3.84 3.01

Active Issues Plus Minus Unchanged

145 248 8

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 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

DEWAN FAROOQ MOTORS 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

NEW YORK: Teisuke Kitayama, right, President and Representative Director of Sumitomo Mitsui Financial Group, holds the order slip for the first 100 shares of his company's stock as it lists at the New York Stock Exchange here on Monday.-Reuters

China hits 6-mth high, HK rallies on PMI data HONG KONG/SHANGHAI: Shanghai shares hit six-month highs and Hong Kong's benchmark leapt over 2 per cent after upbeat Chinese data added to a rally fuelled by strong corporate earnings and prospects of robust foreign inflows. The official purchasing managers' index (PMI) rose to a sixmonth high of 54.7 in October from 53.8 in September, blowing past expectations. The HSBC PMI, a private companion, climbed to 54.8 from 52.9. Hong Kong's Hang Seng index rose 2.4 per cent, its biggest one-day percentage gain since mmid-June and recovering over three-quarters of its decline over the prior two weeks, in a broad rally led by banks and property developers. China's key stock index rose 2.5 per cent with materials and energy sectors posting the biggest gains as a weaker dollar pushed up prices of commodi-

US stocks mid-day

Wall St rises on data; industrial shares up NEW YORK: US stocks edged higher on Monday as US and Chinese data underscored the view that the recovery is on track, fueling gains in energy and industrial shares. Weakness in the euro against the dollar helped to limit the advance, however, with the dollar having developed an inverse relationship with stocks lately. The market's positive start to November followed gains of 12.5 per cent by the benchmark S&P 500 in September and October. The S&P energy index rose 0.9 per cent as reports showed US factory activity in October expanded and construction spending rose unexpectedly in September. Other data showed manufacturing in China expanded at the fastest pace in six months in October. See # 7 Page 11

ties. But the index, which posted its biggest monthly gain in 15 months in October, is down 7 per cent on the year. Traders are now shifting focus back to the Federal Reserve's two-day policy meeting starting Tuesday. The Fed is expected to buy at least $500 billion of Treasury debt over five months to support US growth. "All eyes are on the Fed's second round of quantitative easing which the market is expecting," said Cao Xuefeng, analyst at Huaxi Securities in Chengdu. "I am looking quite favourably on the market right now," he said. Coal producer China Shenhua Energy rose 3.4 per cent after posting a 12 per cent rise in profit on strong demand from its home market. Datong Coal gained 6.8 per cent, while Zijin Mining

jumped 6.3 per cent. China Baoshan Iron & Steel, the country's biggest listed steelmaker, gained 1.7 per cent after its third quarter earnings and the manufacturing data allayed fears of a slowdown in steel demand. Smaller rival Inner Mongolia Baotou Steel jumped to its 10 per cent limit. China Construction Bank rose 3.4 per cent after the company emerged as one of the top picks amongst Chinese banks for brokers covering the sector after the company's posted record profit last week. CCB's net interest margin outperformed most of its peers in the third quarter, said James Liu, analyst at CIMB. Of 35 analysts covering the bank, 33 rate the bank a "buy" or a "strong buy", with the other two ratings a "hold", according to Thomson Reuters Starmine.-Reuters

Nikkei closes 7-wk low; Honda skids TOKYO: Japan's Nikkei average hit a seven-week closing low on Monday, hit by a drop in shares of Honda Motor after its earnings disappointed investors, with the yen's strength near a record high against the dollar put an additional damper on confidence. Still, investors were reluctant to actively place bets before a Federal Reserve policy-setting meeting on Nov. 2-3, in which it is expected to decide on more monetary easing. The Bank of Japan has brought forward its next meeting to Nov. 4-5 from midNovember in a move seen as a precaution in case it needs to

respond to Fed action. Honda shares lost 5 per cent after the automaker's rise in its full-year operating profit forecast left it below expectations. Analysts said the automaker's earnings news was not too negative but the stock was dented by profit-taking and worries about a further strengthening in the yen. "While other Asian markets were helped by China's strong manufacturing data, Japan is weighed down by the strong yen. That said, the overall investor mood is waiting and seeing ahead of the US midterm election, the Fed and the See # 6 Page 11

ANNOUNCEMENTS Company (Colony) Thal Agritech Limited(Consolidated) Agritech Limited(Stand Alone) AKD Capital Ali Asghar Textile AL-Khair Gadoon AL-Qadir TextileXD AMZ Ventures 'A' Annoor Textile Apollo TextileXD Artistic Denim XD Azam TextileXD

Period Div/Bon/Right PAT (Rs in mn) 1st Qtr -1.154 1st Qtr 271.875 1st Qtr 270.531 1st Qtr -0.682 1st Qtr 1.824 1st Qtr -22.019 1st Qtr -2.886 1st Qtr 3.282 1st Qtr -0.405 1st Qtr -14.794 1st Qtr 75.225 1st Qtr 23.847 See # 1 Page 11

EPS(Rs) -0.21 0.69 0.69 0.27 0.01 -2.18 -0.38 0.11 -0.23 -1.79 0.90 1.80

Miners, banks lift FTSE LONDON: Miners led Britain's top shares higher on Monday, boosted by strong data from China, but gains were tempered as investors looked ahead to the outcome of the US Federal Reserve's meeting on Wednesday. Miners rose after data showing demand in China, the world's biggest consumer of metals, was holding up. The world's biggest integrated zinc producer Xstrata topped the FTSE leaderboard, up 3.7 per cent, supported by strong metal prices as the dollar weakened on the prospect of more quantitive easing from the United States. The FTSE 100 closed 19.46 points, or 0.3 per cent, higher at 5,694.62, having fallen 1.2 per cent last week. It earlier touched an intraday high of 5,733.01. "Today's movements though are indicative of how apprehensive investors are this week as See # 5 Page 11

10,667 points (+ive 68 points). However some profit taking at the inflated levels particularly in energy and banking stocks sent the index to the red zone at a couple of times where during the final hour of the session it touched the lowest level of the day of 10,528 points (-ive 69 points). According to experts market has been witnessing a resultbased rally but now as the results season is almost over and there aren't any major triggers left for the market investors decided to book gains. Apart from it, investors were also worried over the likely impact of the recent hike in petroleum prices on the economy. Therefore participation of

investors also stayed on the lower sides as reflected by the volumes. "The recent increase in petroleum products besides inviting severe criticism and threats of shut down from local manufacturing and transport sector, the impact on inflation along with rising trend in government borrowing continues to keep the threat of rising trend in local interest rate on high side", said an equity dealer. A total of around 80.5 million shares traded during the day which is 23.4 million shares less as compared to a turnover of 103.9 million shares on Friday. However foreign investors were mainly on the buying side See # 3 Page 11

Indian shares start Nov good ; ICICI up MUMBAI: Indian shares started November on the front foot, notching 1.6-per cent gains on Monday, as global investors cheered robust manufacturing output data from world's fastest growing major economies -China and India. Market focus on Tuesday will be on the Reserve Bank of India policy review and the two-day US Federal Reserve meeting, which ends on Wednesday. Strong October auto sales and forecast-beating results from energy conglomerate Reliance Industries also helped the sentiment, in a session marred by technical glitch on the Bombay Stock Exchange. Trade was halted for more than two-and-a-half hours on the BSE, the smaller of the two leading stock exchanges in the country. ICICI Bank led the gains and rose as much as 7.4 per cent to a 34-month high of 1,248 rupees, as brokerages were upbeat on the top private-sector

lender, and raised their target prices on the stock, after it posted forecast-beating results last week. Credit Suisse lifted its target price on ICICI Bank, while maintaining an outperform rating, while HSBC Securities raised its target price on the stock reiterating overweight. The 30-share BSE index closed 1.61 per cent or 323.29 points higher at 20,355.63, with 26 of its components closing in the green. "The PMI data was obviously a big factor. Also, there are expectations that the Coal India refund money will return to the market," said Gajendra Nagpal, chief executive at Unicon Financial in New Delhi. "That, by no means is small money," referring to application money of around $50 billion received for $3.5 billion Coal India's share sale. Growth in China and India powered ahead last month, providing welcome support for the See # 4 Page 11

Dhiyan

WEEK MIGHT START ON NEGATIVE NOTE Mohsin Adhi, Director Alfa Adhi Securities Some rangebound activities are expected in the coming days where index would be moving between 10,400 and 10,700 points. Investors are therefore advised to wait for dips. No change in the discount rate by the central bank in the next monetary policy would be a supporting factor for the market but due to higher local oil prices, inflation might rise in the country and spur further monetary tightening. Correction would continue today as well.

Hamad Aslam, Head of Research BMA Capital The technical correction is likely to prevail till 10,400 levels where foreign investors would remain the driving force for the market. Many stocks are in overbought zone therefore investors are advised to accumulate selective stocks at dips like APL, POL, and FFBL. The launch of Margin Trading System (MTS) would be the only factor that would trigger the market in the coming days. Market would remain negative today.


6

Tuesday, November 2, 2010

Market

Symbols

Volume

80,537,296

Value

1,980,761,892

Trades

43,546

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

145 248 8 401

10,538.27 10,667.09 10,528.85 i60.13

PE

Open

High

High Low 1,363.01 1,336.10 Total cos Defaulter cos P/BV (x) ROE (%) 3.28 32.54 Low

Close Chg

Close Change 1,340.42 -7.73 Listed cap Market cap 65,194.15 mn 1,059,141.94 mn Payout (%) Div Yield (%) 55.94 5.55 Last 60 days High Low

Volume

% Change -0.57 5-Day High 1,358.03 5-Day Low 1,340.42 2010 Div BR (%) (%)

Company

Pak Int Cont.Terminal XD 1092

5.08 297.47

299.89 292.01 293.32 -4.15

233768

374.20

287.99

250

-

300

20

5.65 100.36

102.10 100.35 100.80

0.44

779941

103.39

73.47

-

-

-

-

10.51 -0.14

9.62

-

456905

12.55

-

-

-

Mari Gas Company

735 16.06 118.96

120.70 118.19 118.49 -0.47

16589

135.84

106.00 32.17 100B

31

-

National Refinery XD

800

3.24 220.70

224.50 218.00 218.39 -2.31

35356

233.50

183.25

125

-

200

-

Oil & Gas Development 43009 10.41 153.94

155.70 153.25 153.87 -0.07

666169

156.00

133.00

82.5

-

55

-

Pak Petroleum

10.65

10.78

10.49

11950

7.51 186.85

188.65 184.00 184.61 -2.24

622053

214.10

168.70

130

20B

90

20B

2365

5.65 242.42

244.50 239.00 239.32 -3.10

776928

251.24

213.17

180

-

255

-

85.90

48.26

-

-

-

-

350

PSO

-

1715

Shell Gas LPG

226

Shell Pakistan

685

-

74.97

4.45 265.73 -

32.86

9.35 182.62

76.20

74.51

74.83 -0.14

268.90 262.70 263.19 -2.54

4564

284.60

233.10

50

-

80

-

32.15 -0.71

1700

40.28

27.32

-

-

-

-

185.50 182.15 182.34 -0.28

5343

237.00

182.05

330

-

40

-

32.25

32.05

198912

CHEMICALS Performance of SR Chemicals Index Open 1,182.00 Turnover 8,647,085 P/E (x) 7.44 Company

Paid up Cap(mn)

High Low 1,198.32 1,178.19 Total cos Defaulter cos P/BV (x) ROE (%) 2.60 35.00

Last 60 days High Low

8.90 -0.09

10537

15.89

76.89 -0.70

1598

87.99

48293

173.99

2112

182.00

21236 382946 230819

Open

High

Low

Close Chg

68 74.17

8.99

9.98

8.02

BOC (Pak)

250 10.56

77.59

78.00

75.30

Clariant Pak

273

6.03 157.23

162.00 157.00 157.83 0.60

Dawood Hercules

1203

7.01 168.98

169.00 167.60 169.00 0.02

Descon Chemical

1996

-

2.34

2.40

2.16

2.17 -0.17

Descon Oxychem Ltd.

1020

-

5.72

6.00

5.60

5.70 -0.02

Dewan Salman

3663

-

1.64

1.73

1.60

1.62 -0.02

Engro Corporation Ltd

3277

176.10 174.70 174.91 -0.44

Engro Polymer

6635

-

13.15

13.85

13.19

13.27 0.12

22000

-

9.54

9.70

9.50

9.56 0.02

Fatima Fertilizer

9.61 175.35

Fauji Fertilizer

6785

7.82 106.52

Fauji Fert. Bin Qasim

9341

5.83

31.16

725

9.19

12.21

Ghani Gases Ltd ICI Pakistan Ittehad Chemical XD Lotte Pakistan Mandviwala

1388

6.99 123.83

360 10.26

27.48

Change 4.45 Market cap 265,505.89 mn Div Yield (%) 6.56

Volume

PE

Bawany AirXDXR

Close 1,186.45 Listed cap 52,251.88 mn Payout (%) 48.81

108.65 106.71 107.90 1.38

% Change 0.38 5-Day High 1,191.13 5-Day Low 1,181.38

2009 Div BR (%) (%)

8.02

2010 Div BR (%) (%)

-

-

5

10R

66.90

90

-

15

-

152.55

125

-

-

-

155.38

40

10B

40

-

2.98

1.78

-

-

-

-

6.20

3.20

-

-

-

-

2.05

1.28

-

-

-

-

265846

190.80

165.60

6010B 40R

40

-

1311936

15.20

10.62

- 27.5R

-

-

3953931

11.98

9.02

-

-

-

-

102.96 131.5

10B

95

-

40

-

17.5

-

1712539 112.05

31.44

30.80

30.89 -0.27

1583002

12.22

12.10

12.13 -0.08

76169

13.85

7.41

-

-

-

-

125.25 123.75 124.10 0.27

90209

131.40

109.50

80

-

55

-

28.85

27.49

27.50 0.02

15142

3.61

10.28

10.42

10.08

10.12 -0.16

31.50

1200

26.59

34.12

2511418

21.00

15

-

5

-

10.75

6.75

5

-

-

-

74

-

1.32

1.89

1.36

1.68 0.36

78935

3.24

0.80

-

-

-

-

1106

-

1.50

1.47

1.40

1.45 -0.05

159687

1.69

1.16

-

-

-

-

Shaffi Chemical

120

-

2.58

2.55

2.31

2.46 -0.12

5110

3.49

1.80

-

-

-

-

Sitara Peroxide

551 13.63

12.82

13.10

12.50

12.54 -0.28

170453

13.79

7.67

-

-

-

-

34.21

34.50

33.50

33.98 -0.23

4101

46.25

33.50

50

-

50

-

Nimir Ind Chemical

Wah-Noble XD

90

6.53

Open 754.55 Turnover 4,557 P/E (x) 2.97

2009 Div BR (%) (%)

853

Pak Refinery Limited

FORESTRY AND PAPER

Paid up Cap(mn)

Open 1,085.43 Turnover 225,696 P/E (x) 5.38

High Low 1,087.57 1,043.64 Total cos Defaulter cos P/BV (x) ROE (%) 0.40 7.47

Close 1,070.52 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Century Paper 707 Pak Paper ProductXDXB 50 Security Paper 411

7.69 6.17

16.26 41.00 40.00

16.41 40.00 40.00

15.28 39.95 39.00

15.75 -0.51 40.00 -1.00 39.99 -0.01

223183 1253 1260

Open 919.57 Turnover 305,269 P/E (x) 2.85

Siddiqsons Tin XD

High Low 926.56 897.08 Total cos Defaulter cos P/BV (x) ROE (%) 0.94 33.10

15.28 38.61 38.10

Paid up Cap(mn)

PE

Open

High

Low

565 675 555 1199

3.86 8.68 9.38

24.50 2.81 14.62 45.58

24.80 2.80 14.40 46.00

24.16 2.63 13.62 44.05

785 10.24

9.01

9.01

9.00

Close Chg 24.69 2.68 13.88 45.00

0.19 -0.13 -0.74 -0.58

9.01 0.00

Close 913.83 Listed cap 3,596.11 mn Payout (%) 30.91

High

Low

Close Chg

Volume

Last 60 days High Low

7.08

72.91

72.50

70.00

70.83 -2.08

4557

84.50

2009 Div BR (%) (%)

2010 Div BR (%) (%)

- 425R 20 50 -

25 33.33B 50 -

Open 1,098.43 Turnover 204,553 P/E (x) 4.03 Company

Paid up Cap(mn)

PE

Open

Atlas Battery 101 4.62 155.91 Atlas Honda 626 7.24 103.83 Dewan Motors 890 1.50 General Tyre 598 18.58 21.91 Ghandhara Nissan 450 3.33 4.68 Ghani Automobile Ind 200 6.56 4.95 Honda Atlas Cars 1428 - 11.55 Indus Motors 786 5.28 232.00 Pak Suzuki 823 11.77 73.09 Sazgar EngineeringXDXB 150 3.78 20.50 Transmission 117 2.00

2009 Div BR (%) (%)

2010 Div BR (%) (%)

23.75 1.65 12.25 44.05

-

30B -

30 40

20B

197373

10.80

8.00

10

-

7.5

-

Performance of SR Construction and Materials Index

Company

Paid up Cap(mn)

PE

Open

High

Low

Al-Abbas Cement 1828 Attock Cement XD 866 6.11 Berger Paints 182 Cherat Cement 956 25.39 Dadabhoy Cement 982 12.69 Dewan Cement 3574 DG Khan Cement Ltd 3651 112.00 EMCO Ind 350 3.05 Fauji Cement 6933 14.55 Fecto Cement 502 3.13 Flying Cement Ltd 1760 Kohat Cement 1288 Lafarge Pakistan Cement13126 Lucky Cement XD 3234 6.45 Maple Leaf Cement 5261 1.29 Safe Mix Concrete 200 -

3.05 58.30 15.53 11.93 1.51 1.55 27.33 2.99 4.82 6.30 1.90 6.15 2.91 73.07 2.85 6.15

3.08 58.75 15.90 12.10 1.65 1.65 27.63 2.98 4.93 6.10 1.95 6.24 3.03 73.48 2.99 6.48

2.80 57.60 15.00 11.00 1.55 1.50 26.80 2.46 4.80 5.80 1.75 6.10 2.94 71.75 2.66 5.72

Change -10.14 Market cap 68,803.08 mn Div Yield (%) 2.46

Close Chg

Volume

Last 60 days High Low

3.00 58.00 15.20 11.17 1.65 1.53 26.88 2.56 4.80 6.00 1.78 6.10 2.97 71.81 2.77 6.02

23107 11659 10948 28785 54102 72278 1536667 161 112580 4040 77061 58725 477770 534740 409101 1038

4.20 70.00 18.75 12.50 2.59 1.99 28.30 4.70 5.50 6.90 2.22 6.50 3.65 74.00 3.48 9.47

-0.05 -0.30 -0.33 -0.76 0.14 -0.02 -0.45 -0.43 -0.02 -0.30 -0.12 -0.05 0.06 -1.26 -0.08 -0.13

2.80 57.60 14.01 8.90 1.30 1.30 23.02 2.11 4.51 4.25 1.74 5.50 2.60 62.60 2.51 5.50

% Change -1.04 5-Day High 975.31 5-Day Low 965.17

2009 Div BR (%) (%) 50 40 -

20B 20R 10B -

2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 -

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 902.80 Turnover 775,798 P/E (x) 2.62 Company

Paid up Cap(mn)

High Low 919.90 904.41 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 43.91

% Change 1.36 5-Day High 915.09 5-Day Low 896.20

Close Chg

Volume

49.13 2.10 48.25 2.90 17.95

-2.26 0.10 0.25 -0.10 0.45

119073 10204 5750 199 1102

53.19 2.69 61.99 4.50 18.99

34.00 1.70 45.75 1.60 11.81

30 -

10B -

20 25 -

25B 10B -

106.07 103.83 106.07 5.05 104.40 102.00 103.45 0.99

635906 3560

123.00 106.00

98.00 91.00

32.5 100

-

-

-

Open

High

Low

Cherat PapersackXDXB 115 1.75 ECOPACK Ltd 230 Ghani GlassXDXB 1067 4.43 MACPAC Films 389 Merit Pack 47 44.88

51.39 2.00 48.00 3.00 17.50

52.82 2.23 48.25 2.90 18.39

48.85 2.00 47.50 2.90 17.00

844 54.39 101.02 300 7.55 102.46

Change 12.29 Market cap 33,923.09 mn Div Yield (%) 5.94

Last 60 days High Low

PE

Packages Ltd Tri-Pack Films

Close 915.09 Listed cap 3,043.31 mn Payout (%) 15.55

2009 Div BR (%) (%)

2010 Div BR (%) (%)

INDUSTRIAL ENGINEERING

Company Ados Pak

Paid up Cap(mn)

16.76

High 17.00

Low 16.72

Close Chg 16.75 -0.01

Volume

-

High

High Low 1,108.49 1,088.01 Total cos Defaulter cos P/BV (x) ROE (%) 1.02 25.35 Low

Close Chg

157.50 154.16 154.68 -1.23 104.00 104.00 104.00 0.17 1.55 1.46 1.50 0.00 22.00 21.55 21.55 -0.36 5.00 4.60 4.80 0.12 4.99 4.02 4.20 -0.75 11.79 11.27 11.27 -0.28 232.00 230.00 231.19 -0.81 75.88 73.00 73.90 0.81 20.50 19.53 20.24 -0.26 2.80 1.70 2.09 0.09

6026 202 86497 580 68020 15002 1650 2295 14385 8870 1002

Change -3.84 Market cap 39,689.64 mn Div Yield (%) 5.07

Last 60 days High Low 199.98 122.51 2.08 26.70 6.10 5.55 13.22 271.00 88.99 27.58 3.25

Last 60 days High Low

51.35

Total Assets (Rs in mn)

3,166.89

MA (10-day)

24.68

Total Equity (Rs in mn)

1,102.67

Revenue (Rs in mn)

3,712.39

MA (100-day)

Close 1,094.58 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

RSI (14-day)

131.00 92.00 1.16 21.55 4.03 3.55 9.65 212.29 69.25 19.50 1.53

% Change -0.35 5-Day High 1,107.18 5-Day Low 1,094.58

2009 Div BR (%) (%)

2010 Div BR (%) (%)

100 80 100 5 2

100 20 150 10 -

20B 30B 20B -

20B 20B -

26.49

MA (200-day)

25.85

Interest Expense

1st Support

24.80

Profit after Taxation

32.55

2nd Support

24.10

EPS 09 (Rs)

1.756

1st Resistance

26.60

Book value / share (Rs)

59.51

2nd Resistance

27.70

PE 10 E (x)

0.55

Pivot

25.90

PBV (x)

0.43

Open 1,514.83 Turnover 118,647 P/E (x) 32.72 Company AL-Noor Sugar Crescent Sugar Dewan Sugar Habib Sugar Habib-ADM Ltd Ismail Ind XD Mithchells Fruit National Foods XD Noon Pakistan XD Noon Sugar Rafhan Maize S S Oil Shahmurad Sugar Tandlianwala Unilever Foods

Paid up Cap(mn) 186 214 365 600 200 505 50 414 48 165 92 57 211 1177 62

Karachi Electric Supply Corp Ltd

PE

Open

High

High Low 1,517.26 1,492.73 Total cos Defaulter cos P/BV (x) ROE (%) 9.92 30.30 Low

Close Chg

4.55 42.94 44.75 42.00 44.75 1.81 12.55 6.00 6.65 6.65 6.65 0.65 1.76 1.78 1.78 1.78 0.02 6.14 29.50 30.05 29.40 29.80 0.30 11.67 12.50 12.89 12.50 12.60 0.10 33.92 75.89 77.00 72.16 75.99 0.10 8.21 65.54 68.81 62.50 67.60 2.06 15.69 42.18 42.99 42.00 42.05 -0.13 2.98 21.89 22.39 20.80 20.85 -1.04 - 12.85 12.50 12.00 12.38 -0.47 2.55 1681.06 1725.00 1599.00 1608.36 -72.70 0.29 3.01 3.40 3.05 3.40 0.39 16.30 11.25 11.25 11.00 11.25 0.00 280.45 32.00 32.50 30.85 30.85 -1.15 14.07 1000.00 1050.00 1000.01 1050.00 50.00

Close 1,505.06 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change -9.77 Market cap 194,347.07 mn Div Yield (%) 0.93

Last 60 days High Low

10175 45.99 39.25 1001 7.80 5.50 1500 2.90 1.11 24201 32.25 25.00 2105 16.98 11.90 700 77.70 53.99 136 76.00 61.50 1171 65.29 39.01 1852 30.27 18.95 16442 13.65 10.20 3040 1733.55 1229.00 2000 3.50 2.51 1582 11.90 7.70 52002 35.50 25.25 204 1071.00 816.00

% Change -0.65 5-Day High 1,514.83 5-Day Low 1,497.25

2009 Div BR (%) (%)

2010 Div BR (%) (%)

40 35 40 15 20 50 900 15 340

40 17.5 110R 12 12 600 350 -

25B 25B 10B 10B -

Open 1,127.88 Turnover 219,751 P/E (x) 2.46 Company Pak Elektron Tariq Glass Ind

High Low 1,137.79 1,113.49 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 10.64

Close 1,115.33 Listed cap 3,763.71 mn Payout (%) 6.27

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

1174 231

3.35 2.03

13.70 17.66

13.95 18.00

13.25 16.80

13.29 -0.41 17.00 -0.66

136752 82990

RSI (14-day)

55.03

Total Assets (Rs in mn)

130,784.14

MA (10-day)

2.15

Total Equity (Rs in mn)

(8,737.47)

MA (100-day)

2.20

Revenue (Rs in mn)

MA (200-day)

2.56

Interest Expense

1st Support

2.16

Loss after Taxation

2nd Support

2.07

EPS 09 (Rs)

1st Resistance

2.34

Book value / share (Rs)

2nd Resistance

2.43

PE 10 E (x)

Pivot

2.25

PBV (x)

Open 948.47 Turnover 11,918,824 P/E (x) 6.59 Company

Paid up Cap(mn)

Amtex Limited XD 2415 Apollo Textile XD 83 Artistic Denim XD 840 Azam Textile XD 133 Azgard Nine 4493 Bannu Woolen XD 76 Bata (Pak) 76 Bilal Fibres 141 Chakwal Spinning XD 400 Chenab Limited 1150 Chenab Ltd Pref 800 Colony Mills Ltd 2442 Crescent Jute 238 D S Ind Ltd 600 Dewan Farooque Spin. 600 Dewan Khalid Textile 57 Dewan Mushtaq Textile 34 Din TextileXDXB 204 Ellcot Spinning XD 110 Gadoon Textile XD 234 Gul Ahmed Textile XD 635 Gulshan SpinningXDXB 222 Hira Txt. Mills Ltd XD 716 Ibrahim Fibres XD 3105 Idrees Textile XD 180 Janana D Mal 43 Kohinoor Ind 303 Kohinoor Mills 509 Kohinoor Spinning XD 1300 Kohinoor Textile 1455 Masood Textile XD 600 Mehmood Textile XD 150 Mian Textile 221 Mohd Farooq 189 Mukhtar Textile 145 Nagina Cotton 187 Nishat (Chunian) XD 1586 Nishat Mills XD 3516 Pak Synthetic 560 Paramount Spin. XDXB 174 Premium Textile XD 62 Prosperity XD 185 Quetta Textile XD 130 Ravi Textile 250 Reliance Weaving 308 Rupali Poly XD 341 Saif Textile 264 Salfi Textile XD 33 Sally Textile XD 88 Samin Textile XR 134 Sana Ind XD 55 Service Ind 120 Service Textile 44 Shahpur Textile 140 Shahtaj Textile XD 97 Shahzad Textile XD 180 Sunrays Textile XD 69 Suraj Cotton XD 180 Tata Textile XD 173 Thal LimitedXDXB 307 Treet Corp 418 Tri-Star Poly 215 Yousuf Weaving 400 Zil Limited XD 53

PE

Open

11.98 6.27 4.00 5.41 20.00 0.33 2.70 - 10.85 0.45 11.85 4.63 587.15 0.37 1.57 0.53 1.76 3.23 2.60 4.44 2.85 0.68 2.09 4.40 5.15 0.07 1.25 0.14 4.70 0.55 25.92 0.63 20.65 0.54 46.76 3.55 23.56 0.88 7.39 0.72 3.87 3.08 38.40 3.53 3.30 0.29 18.40 1.49 2.59 0.36 1.19 3.71 5.31 2.01 20.00 0.70 60.00 0.59 0.95 0.55 0.75 15.00 1.68 20.89 4.38 51.71 2.03 6.11 0.65 8.26 0.49 29.84 1.09 14.30 0.50 29.45 1.77 0.69 9.63 4.08 34.00 0.39 5.78 0.14 29.92 0.23 4.50 5.73 6.35 2.43 31.04 6.76 207.95 0.74 0.71 0.69 - 17.16 0.24 5.00 0.52 32.10 1.11 31.85 0.20 20.00 3.93 91.40 7.43 44.45 1.02 0.47 1.25 2.94 44.00

High

High Low 957.97 936.78 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 8.64

12.17 14.50

Low

Close Chg

5.80 5.27 5.27 -1.00 4.50 4.50 4.50 0.50 19.49 19.10 19.46 -0.54 2.99 2.23 2.40 -0.30 11.05 10.20 10.33 -0.52 12.85 11.50 12.85 1.00 609.00 557.80 558.20-28.95 2.00 1.25 1.36 -0.21 1.72 1.20 1.20 -0.56 3.35 3.15 3.15 -0.08 1.75 1.60 1.61 -0.99 2.99 2.80 2.84 -0.01 1.00 0.60 0.79 0.11 2.37 1.85 1.90 -0.19 5.90 4.25 5.45 0.30 1.02 0.85 0.95 -0.30 4.69 4.60 4.60 -0.10 27.00 25.20 25.50 -0.42 21.00 20.70 20.70 0.05 49.09 49.09 49.09 2.33 24.73 24.73 24.73 1.17 7.50 7.00 7.21 -0.18 3.90 3.82 3.85 -0.02 40.30 36.48 39.18 0.78 3.50 3.25 3.25 -0.05 19.24 17.41 17.43 -0.97 1.59 1.45 1.46 -0.03 3.49 2.60 3.49 0.90 1.00 1.00 1.00 -0.19 5.60 5.20 5.20 -0.11 19.01 19.00 19.01 -0.99 57.00 57.00 57.00 -3.00 0.50 0.50 0.50 -0.09 0.99 0.90 0.97 0.02 0.65 0.37 0.40 -0.15 14.70 14.25 14.70 -0.30 21.29 20.25 20.28 -0.61 51.98 51.00 51.06 -0.65 6.40 6.00 6.00 -0.11 8.99 8.95 8.95 0.69 31.00 29.50 31.00 1.16 14.40 13.30 14.30 0.00 30.92 27.98 30.50 1.05 1.79 1.70 1.72 -0.05 10.48 9.41 9.95 0.32 34.50 32.30 32.49 -1.51 6.49 4.78 4.83 -0.95 31.41 31.00 31.41 1.49 5.00 4.37 4.64 0.14 6.87 6.45 6.87 0.52 32.00 30.57 32.00 0.96 197.56 197.56 197.56-10.39 0.75 0.75 0.75 0.01 0.95 0.49 0.51 -0.18 17.80 17.01 17.01 -0.15 4.25 4.00 4.01 -0.99 33.70 33.69 33.70 1.60 31.05 31.00 31.03 -0.82 21.00 20.85 21.00 1.00 93.10 91.50 91.97 0.57 46.67 44.45 46.67 2.22 0.75 0.72 0.72 -0.30 1.49 1.20 1.36 0.11 45.30 43.72 43.99 -0.01

Volume

2009 Div BR (%) (%) -

10B -

Change -8.09 Market cap 120,713.26 mn Div Yield (%) 2.53

Last 60 days High Low

4897558 20.45 1000 4.50 9938 24.05 4907 3.45 1628632 12.32 32096 14.00 4697 624.00 4507 2.00 12003 2.59 27001 4.61 1255501 2.60 30064 3.83 7255 1.90 1405222 2.49 4000 5.90 831 1.90 1000 4.70 101417 30.90 850 25.45 10875 49.09 685 25.50 2583 10.30 77476 4.88 48501 40.30 1511 5.35 10601 20.50 92384 1.95 501 3.79 386 2.00 6120 6.30 1561 23.00 150 74.50 20000 0.98 3994 1.82 1012 0.99 1976 17.50 923005 23.55 530906 54.27 15255 7.90 1000 11.25 505 31.03 992 21.47 1004 52.29 132418 3.96 102 12.00 1610 36.75 56324 6.49 3020 31.41 12658 6.20 11001 8.69 216 38.40 1473 255.29 7500 0.75 155319 1.90 3104 21.90 911 9.48 200 35.00 2000 37.50 10680 21.42 77958 112.80 218498 52.14 12024 1.02 27911 1.89 2082 48.75

2010 Div BR (%) (%)

10361

21.96

14.62

20

-

-

-

1905 1011

227.45 51.99

200.00 36.10

400 -

20B

150 25

10B

Dewan Auto Engineering 214 0.75 Ghandhara Ind 213 10.19 12.00 Millat Tractors XB 366 6.22 480.89

0.70 0.65 0.65 -0.10 11.44 11.00 11.00 -1.00 482.00 472.00 475.29 -5.60

3005 149028 112719

1.00 19.00 597.90

0.36 11.00 390.00

450

25B

650

25B

Company Abbott (Lab) GlaxoSmithKline Highnoon (Lab) Sanofi-Aventis Searle Pak XD

Paid up Cap(mn) 979 1707 165 96 306

PE

Open

8.48 100.00 12.74 71.50 6.73 24.89 10.58 134.00 5.58 62.54

High

High Low 875.88 859.45 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 22.31 Low

Close Chg

5.27 3.00 17.55 1.35 8.55 7.50 436.00 0.55 0.70 2.93 1.60 2.23 0.16 1.44 2.05 0.26 1.52 20.80 17.21 33.80 19.99 5.31 2.52 34.05 2.56 9.95 1.01 1.52 0.56 4.00 18.51 55.00 0.01 0.35 0.20 12.00 14.64 40.81 5.16 6.00 25.71 12.51 25.80 1.38 6.91 31.35 2.01 20.50 2.74 5.02 27.50 176.00 0.14 0.18 14.75 3.25 30.03 29.00 14.02 86.50 37.20 0.26 0.73 33.00

98.75 96.50 96.70 -3.30 71.00 70.10 70.81 -0.69 24.32 24.25 24.31 -0.58 132.98 127.30 132.98 -1.02 62.45 62.05 62.05 -0.49

16631 2246 839 432 1537

(0.66) (3.30)

2010 Div BR (%) (%) 17.5

10B -

Fundamental Highlights As on Jun 30, 2009

2009 Div BR (%) (%)

RSI (14-day)

59.23

Total Assets (Rs in mn)

838.18

% Change -0.85 5-Day High 953.77 5-Day Low 940.38

MA (10-day)

1.80

Total Equity (Rs in mn)

(298.62)

2010 Div BR (%) (%)

30 20 20 7.5 20 120 5 20 10B 7.5 35 70 5 - 12.5 - 10B 10 20B 10 20 10 5 15 15 100R 4050.2257B 60 - 20SD - 50R 15 20 25 45R 12.5 - 10B 10 10B 7.5 50 20 30 - 632R 20 - 25SD 40 40 25 10 - 100R 35 60 200 20 45 5 10 15 50 25 20 20B 80 20B 4 40 10B 35 -

MA (100-day)

1.95

Revenue (Rs in mn)

653.74

MA (200-day)

2.50

Interest Expense

1st Support

1.73

Loss after Taxation

(984.14)

2nd Support

1.53

EPS 09 (Rs)

(16.402)

130.20

1st Resistance

2.25

Book value / share (Rs)

2nd Resistance

2.57

PE 10 E (x)

Pivot

2.05

PBV (x)

(4.98) (0.38)

DSIL closed down -0.19 at 1.90. Volume was 1,053 per cent above average (trending) and Bollinger Bands were 50 per cent wider than normal. The company's loss after taxation stood at Rs23.381 million which translates into a Loss Per Share of Rs0.39 for the year ended FY10. DSIL is currently 23.9 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into DSIL (mildly bullish). Trend forecasting oscillators are currently bullish on DSIL.

Mybank Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

40.36

Total Assets (Rs in mn)

35,490.71

MA (10-day)

2.15

Total Equity (Rs in mn)

5,104.86

MA (100-day)

2.37

Revenue (Rs in mn)

MA (200-day)

3.25

Interest Expense

1st Support

1.95

Loss after Taxation

2nd Support

1.84

EPS 09 (Rs)

1st Resistance

2.21

Book value / share (Rs)

2nd Resistance

2.36

PE 10 E (x)

Pivot

2.10

PBV (x)

3,368.22 2,881.90 (1,639.83) (3.092) 9.63 0.21

MYBL closed down -0.09 at 2.01. Volume was 214 per cent above average (trending) and Bollinger Bands were 45 per cent narrower than normal. The company's loss after taxation stood at Rs1.392 billion which translates into a Loss Per Share of Rs0.74 for the nine months of current calendar year (9MCY10). MYBL is currently 38.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of MYBL at a relatively equal pace. Trend forecasting oscillators are currently bearish on MYBL.

BOOK CLOSURES Company

From

To

Faysal Bank Atlas Fund of Funds First Paramount Modaraba Sapphir Fibres Sapphir Textile Mills Jahangir Siddiqui & Co Punjab Oil Mills Biafo Industries East West Life Assurance KESC Nestle Pakistan Fuji Fertilizer Thal Limited Fauji Fertilizer Bin Qasim

02-Nov 03-Nov 03-Nov 04-Nov 04-Nov 09-Nov 09-Nov 10-Nov 15-Nov 15-Nov 16-Nov 21-Nov 23-Nov 14-Dec

10-Nov 10-Nov 10-Jan 11-Nov 11-Nov 23-Nov 15-Nov 16-Nov 23-Nov 28-Nov 22-Nov 27-Nov 30-Nov 20-Dec

D/B/R

Spot AGM/Date

25(R) 2.20(F) 18 28(R) 12.5(i) 10R 7.80(R) 250(ii) 12.5(iii)

26-Oct 29-Oct 01-Nov 04-Nov 04-Nov -

10-Nov 03-Nov 28-Oct 11-Nov 11-Nov 24-Nov 12-Oct 30-Nov -

INDICATIONS

Close 865.11 Listed cap 3,904.20 mn Payout (%) 44.54

Volume

(1.176)

% Change -1.11 5-Day High 1,163.87 5-Day Low 1,115.33

Performance of SR Pharma and Bio Tech Index Open 879.53 Turnover 21,791 P/E (x) 6.50

5,619.80

KESC closed up 0.10 at 2.19. Volume was 713 per cent above average (trending) and Bollinger Bands were 17 per cent narrower than normal. The company's loss after taxation stood at Rs1.782 billion which translates into a Loss Per Share of Rs0.09 for the 1st quarter of current fiscal year (1QFY11). KESC is currently 14.4 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into KESC (bullish). Trend forecasting oscillators are currently bullish on KESC.

Technical Analysis

Close 940.38 Listed cap 47,070.70 mn Payout (%) 16.68

85,224.08 (15,484.94)

D. S. Industries Limited Change -12.55 Market cap 5,289.33 mn Div Yield (%) 2.55

Last 60 days High Low 15.43 18.99

Fundamental Highlights As on Jun 30, 2009

Technical Analysis

Performance of SR Household Goods Index

% Change -0.60 5-Day High 1,541.45 5-Day Low 1,509.28

2009 Div BR (%) (%)

142.46

DINT closed down -0.42 at 25.50. Volume was 1,617 per cent above average (trending) and Bollinger Bands were 29 per cent narrower than normal. The company's profit after taxation stood at Rs216.019 million which translates into an Earning Per Share of Rs11.66 for the 1st quarter of current fiscal year (1QFY11). DINT is currently 2.2 per cent above its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of DINT at a relatively equal pace. Trend forecasting oscillators are currently bearish on DINT.

PHARMA AND BIO TECH

Change -9.15 Market cap 31,302.99 mn Div Yield (%) 16.45

203.75 201.80 202.13 -0.20 47.50 44.85 45.90 0.36

215 104

1.08

Open

Close 1,509.28 Listed cap 1,336.62 mn Payout (%) 131.49

4.84 202.33 - 45.54

AL-Ghazi Tractor Bolan CastingXDXB

66

PE

High Low 1,528.03 1,499.11 Total cos Defaulter cos P/BV (x) ROE (%) 3.04 38.02

40

Fundamental Highlights As on Jun 30, 2009

Technical Analysis

FOOD PRODUCERS

Performance of SR Industrial Engineering Index Open 1,518.43 Turnover 278,067 P/E (x) 7.99

20B

Din Textile Mills Limited

Performance of SR Food Producers Index

% Change -0.62 5-Day High 934.81 5-Day Low 913.83

28.37 3.39 16.75 70.71

Close 965.17 Listed cap 54,792.74 mn Payout (%) 19.04

-

2010 Div BR (%) (%)

Performance of SR Personal Goods Index

Change -5.74 Market cap 8,687.92 mn Div Yield (%) 10.86

1950 39364 30305 36277

High Low 987.17 960.14 Total cos Defaulter cos P/BV (x) ROE (%) 0.55 7.10

60.05

2009 Div BR (%) (%)

Alert ! Unusual Movements

% Change -2.21 5-Day High 762.16 5-Day Low 734.66

AUTOMOBILE AND PARTS

% Change -1.37 5-Day High 1,122.22 5-Day Low 1,070.52

CONSTRUCTION AND MATERIALS Open 975.31 Turnover 3,411,907 P/E (x) 7.74

Change -16.68 Market cap 12,953.12 mn Div Yield (%) 3.73

PERSONAL GOODS

Last 60 days High Low

Volume

Close 737.87 Listed cap 3,242.17 mn Payout (%) 11.08

HOUSEHOLD GOODS Change -14.91 Market cap 2,966.60 mn Div Yield (%) 4.70

Last 60 days High Low 21.80 62.85 48.00

High Low 751.26 731.21 Total cos Defaulter cos P/BV (x) ROE (%) 0.76 25.53

Performance of SR Automobile and Parts Index

Performance of SR Industrial Metals and Mining Index

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind

16,622.60 16,821.31 16,610.96 i92.76

Open

INDUSTRIAL METALS AND MINING

Company

Current High Low Change

10,089.18 10,222.83 10,083.94 i65.73

PE

Performance of SR Forestry & Paper Index

Company

Current High Low Change

INDUSTRIAL TRANSPORTATION

691

Pak Oilfields XD

7,340.53 7,426.42 7,334.17 i41.88

KMI 30 Index

Performance of SR Industrial Transportation Index

Attock Refinery

3921

Current High Low Change

KSE 30 Index

OIL AND GAS

Attock PetroleumXDXB BYCO Petroleum

All Share Index

Performance of SR Oil and Gas Index Open 1,348.15 Turnover 3,341,323 P/E (x) 10.09 Company

KSE 100 Index

Change -14.42 Market cap 28,831.53 mn Div Yield (%) 6.85

Last 60 days High Low 104.00 81.35 25.79 139.50 64.50

# Extraordinary General Meeting

77.00 65.00 22.10 115.90 53.36

2009 Div BR (%) (%) 120 50 25 70 15

15B

% Change -1.64 5-Day High 879.53 5-Day Low 865.11 2010 Div BR (%) (%) 20 30

-

OTHER SECTORS Symbols

Open

High

Low Close

Change

TRG Pakistan Ltd.

4.01

4.19

4.01

4.1

0.09

Murree BreweryXDXB

74.5

73.61

73.5

73.57

-0.93

Vol 1407044 314

Shezan Internat.XD

96

97

92

94.19

-1.81

109

Grays of Cambr XD

46.63

48.49

46.05

47.85

1.22

194

113.21

112.5

112.5

112.5

-0.71

2078

Pak Tobacco Eye Television

20.9

21

20.01

20.23

-0.67

13089

PIAC(A)

2.32

2.5

2.25

2.28

-0.04

192630

60

61.49

AKD Capital Pace (Pak) Ltd. Netsol Technol XD Pak Telephone

57

57

-3

2793

3.15

3.11

2.81

2.85

-0.3

1289026

18.63

19.01

18.51

18.6

-0.03

393440

1.75

2.35

1.71

2

0.25

519


7

Tuesday, November 2, 2010

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,079.19 Turnover 4,150,826 P/E (x) 5.87 Paid up Cap(mn)

Company

Pak Datacom XD Pakistan Telecomm Co A TelecardSPOT WorldCall Tele Wateen Telecom Ltd

High Low 1,103.08 1,075.98 Total cos Defaulter cos P/BV (x) ROE (%) 0.75 12.84

PE

Open

High

Low

Close Chg

78 5.44 37740 12.17 3000 0.72 8606 6175 -

92.79 18.25 2.27 2.45 3.45

90.10 18.51 2.60 2.64 3.65

88.16 18.22 2.31 2.41 3.38

88.16 18.26 2.41 2.42 3.40

Close 1,080.18 Listed cap 50,077.79 mn Payout (%) 62.56

Last 60 days High Low

Volume

-4.63 0.01 0.14 -0.03 -0.05

1514 966554 2138172 1044586 53891

Change 0.99 Market cap 74,509.48 mn Div Yield (%) 10.65

120.61 19.76 2.78 2.98 5.68

88.16 17.32 1.80 2.30 3.38

% Change 0.09 5-Day High 1,134.70 5-Day Low 1,079.19

2009 Div BR (%) (%) 70 15 -

-

Atlas Insurance Central Insurance XB Century Insurance EFU General Ins. XB Habib Insurance IGI Insurance Pak Reinsurance Premier Insurance Reliance Insurance XB

369 5.35 279 6.13 457 7.09 1250 400 2.74 718 15.33 3000 36.03 303 4.97 252 4.29

Open 827.36 Turnover 17,248 P/E (x) 79.81

ELECTRICITY Open 1,172.05 Turnover 4,582,415 P/E (x) 12.50 Paid up Cap(mn)

Company

Genertech Hub Power Japan Power KESC Kohinoor Energy XD Kot Addu Power XD Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd XD Southern Electric Tri-star Power XD

High Low 1,184.22 1,158.17 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 9.35

PE

Open

High

Low

198 11572 6.09 1560 7932 1695 12.16 8803 4.80 3673 2.94 3541 22.87 191 3.59 1367 150 -

0.94 33.44 1.61 2.09 21.90 39.53 14.09 15.14 19.50 2.32 0.90

0.99 33.85 1.55 2.34 21.98 39.90 14.45 15.10 19.25 2.41 0.92

0.80 33.15 1.50 2.16 21.50 39.35 13.35 14.14 18.50 2.12 0.80

Change -9.85 Market cap 96,351.87 mn Div Yield (%) 8.33

% Change -0.84 5-Day High 1,188.38 5-Day Low 1,162.20

Close Chg

Volume

Last 60 days High Low

2009 Div BR (%) (%)

0.99 33.24 1.52 2.19 21.89 39.47 13.40 14.18 19.25 2.16 0.80

9002 559036 83507 2851396 522 67539 1182813 2314303 37230 328361 101

1.45 37.24 2.25 2.50 26.50 42.95 14.85 16.10 23.49 2.95 1.58

33.5 45 64.5 20 3

0.05 -0.20 -0.09 0.10 -0.01 -0.06 -0.69 -0.96 -0.25 -0.16 -0.10

0.51 32.75 0.70 1.92 21.31 38.35 9.50 9.25 18.50 2.05 0.33

31R -

GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,759.26 Turnover 134,155 P/E (x) 11.09 Paid up Cap(mn)

Company Sui North Gas Sui South GasXDXB

PE

5491 8390

9.32 3.56

Open

High Low 1,802.91 1,718.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.27 11.41

High

31.81 24.16

32.25 24.95

Low 31.25 23.50

Close Chg

Close 1,726.32 Listed cap 12,202.80 mn Payout (%) 66.79

Volume

31.32 -0.49 23.65 -0.51

60514 73641

Change -32.94 Market cap 37,039.57 mn Div Yield (%) 6.02

Last 60 days High Low 33.40 30.70

25.00 16.00

% Change -1.87 5-Day High 1,820.63 5-Day Low 1,726.32

2009 Div BR (%) (%) -

-

2010 Div BR (%) (%) 20 15

25B

BANKS Performance of SR Banks Index Open 1,017.80 Turnover 12,323,945 P/E (x) 7.30 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 5.36 55.36 Askari Bank 6427 7.20 15.45 Atlas Bank 5001 1.71 Bank Alfalah 13492 11.79 9.27 Bank AL-Habib 7322 6.88 32.00 Bank Of Khyber 5004 4.84 3.50 Bank Of Punjab 5288 8.42 BankIslami Pak 5280 850.00 3.22 Faysal Bank 6091 5.20 15.11 Habib Bank Ltd 10019 6.29 101.55 Habib Metropolitan Bank 8732 6.12 20.13 JS Bank Ltd 6128 2.64 KASB Bank Ltd 9509 2.48 MCB Bank Ltd 7602 8.86 202.55 Meezan Bank 6983 7.94 15.10 Mybank Ltd 5304 2.10 National Bank 13455 5.58 64.61 NIB Bank 40437 2.71 Royal Bank Ltd 17180 7.25 Samba Bank 14335 1.99 Silkbank Ltd 26716 2.64 Soneri Bank 6023 7.75 Stand Chart Bank 38716 10.31 6.53 Summit Bank Ltd 5000 2.81 United Bank Ltd 12242 6.51 56.23

High

High Low Close 1,032.08 1,001.51 1,007.50 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.02 13.94 40.49 Low

Close Chg

Volume

56.20 55.00 55.14 -0.22 15.49 14.96 15.13 -0.32 1.85 1.70 1.70 -0.01 9.43 9.11 9.20 -0.07 32.32 31.65 31.90 -0.10 3.70 3.58 3.63 0.13 9.06 8.34 8.56 0.14 3.59 3.27 3.40 0.18 16.11 16.01 16.11 1.00 102.25 100.50 100.78 -0.77 20.50 20.00 20.02 -0.11 2.70 2.60 2.66 0.02 2.50 2.45 2.45 -0.03 204.45 199.00 199.86 -2.69 15.48 15.00 15.01 -0.09 2.25 1.99 2.01 -0.09 65.25 63.53 63.90 -0.71 2.83 2.59 2.61 -0.10 7.70 6.95 6.99 -0.26 2.00 1.80 1.89 -0.10 2.77 2.57 2.58 -0.06 7.79 7.21 7.42 -0.33 6.75 6.55 6.70 0.17 3.04 2.75 2.75 -0.06 56.80 55.25 55.36 -0.87

Change -10.30 Market cap 611,235.30 mn Div Yield (%) 5.54

Last 60 days High Low

53177 58.25 386414 16.96 127146 2.84 833128 10.19 25142 33.75 17105 4.49 1598804 10.20 496063 3.69 352774 16.11 66016 108.50 28386 23.30 175957 2.90 3000 3.70 501526 208.65 8208 15.95 269021 2.75 2627696 71.99 888496 3.25 153957 11.99 282759 2.65 3006369 3.30 300932 7.90 15511 8.00 33566 3.70 106355 59.24

48.51 13.99 1.52 7.32 29.10 2.50 7.35 2.31 12.75 92.00 18.02 2.00 2.03 180.40 13.80 1.62 60.51 2.42 5.20 1.55 2.15 5.01 6.00 2.30 49.90

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

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

% Change -1.01 5-Day High 1,037.29 5-Day Low 1,007.50

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 670.23 Turnover 503,319 P/E (x) 11.19 Paid up Cap(mn)

Company Adamjee Insurance

PE

1237 19.92

Open 69.53

High 69.97

High Low 675.87 657.77 Total cos Defaulter cos P/BV (x) ROE (%) 0.58 5.20 Low 68.11

Close Chg 68.73 -0.80

Close 662.62 Listed cap 11,111.34 mn Payout (%) 79.54

Volume 203898

Change -7.61 Market cap 42,505.51 mn Div Yield (%) 7.11

Last 60 days High Low 87.89

63.05

2009 Div BR (%) (%) 30

% Change -1.14 5-Day High 693.76 5-Day Low 662.62 2010 Div BR (%) (%)

10B

10

-

2975 913 301 26117 500 1201 263565 2756 1000

35.00 64.90 11.99 52.61 13.89 86.69 17.90 10.25 7.70

27.10 47.37 9.42 34.76 10.04 66.02 12.50 8.00 6.05

40 20 40 35 35 30 20 -

10B 25B 8.7B 15B -

10 10 -

UPTO 100 VOLUME

10B 20B -

High Low 843.36 813.91 Total cos Defaulter cos P/BV (x) ROE (%) 3.07 3.85

Close 835.90 Listed cap 2,290.72 mn Payout (%) 355.53

Change 8.54 Market cap 9,251.23 mn Div Yield (%) 4.45

Symbols JKSM FECS MZSM BIFO WYETH SHJS NESTLE DLL AGSML FFLM FRCL HADC FIBLM FPJM THCCL AGIC LAKST MIRKS FCONM GRYL SHFA GVGL PCAL GATI PECO AGL FZTM COLG FUDLM ULEVER BCML AGIL BWHL CLOV PIL PKGI IDYM NSRM NBF FCIBL FNEL NJICL UNIC CFL SANSM PIOC HINO PGCL IBLHL ARPAK UDPL IFSL GLPL ALQT DATM GUSM LMSM RCML SFL DIIL CHAS CSUML SIEM DYNO NMBL BTL FASM MRNS MQTM HUSI MUBT AASM DNCC KSBP PICTPS SCL PHDL TSMF BRR

455

-

2.60

2.90

2.89

2.90 0.30

1500

3.00

2.05

10R

-

20R

EFU Life Assurance XB

850 36.53

67.68

65.99

64.30

64.30 -3.38

5735

82.99

51.25

5513.33B

-

-

New Jub Life Insurance

627 29.42

42.00

43.87

42.00

43.84 1.84

10013

45.20

34.50

10

-

-

High

Low

Close Chg

Last 60 days High Low

% Change 1.03 5-Day High 858.52 5-Day Low 827.36

East West Life

Open

Volume

2009 Div BR (%) (%) -

-

2010 Div BR (%) (%)

FINANCIAL SERVICES Performance of SR Financial Services Index Open 373.31 Turnover 8,941,849 P/E (x) 42.51 Paid up Cap(mn)

Company

PE

Open

High

High Low 381.23 362.29 Total cos Defaulter cos P/BV (x) ROE (%) 0.39 0.91 Low

Close Chg

Close 369.01 Listed cap 30,336.44 mn Payout (%) 99.56

Change -4.30 Market cap 26,180.94 mn Div Yield (%) 2.34

Last 60 days High Low

Volume

% Change -1.15 5-Day High 375.37 5-Day Low 369.01

2009 Div BR (%) (%)

AMZ Ventures

225

1.57

0.65

0.75

0.58

0.69 0.04

220118

1.10

0.42

-

-

-

360

3.18

16.96

16.80

16.10

16.16 -0.80

31781

20.30

13.00

-

-

-

20B

450 12.77 3750 4.20 150 1.34

25.27 23.23 1.54

25.49 23.43 1.83

24.91 22.80 1.50

25.03 -0.24 22.83 -0.40 1.50 -0.04

50847 557843 1001

43.51 32.90 2.25

24.62 20.90 0.50

15 -

25B -

30 -

20B -

Arif Habib Limited XB Arif Habib Securities Dawood Cap Mngt XB Dawood Equities

-

2010 Div BR (%) (%)

Arif Habib Investments

250

-

1.91

2.00

1.85

1.97 0.06

17600

2.91

1.51

-

-

-

-

441

-

2.50

2.50

2.49

2.49 -0.01

500

3.35

1.85

-

-

-

-

2121 12.75

2.09

2.10

2.01

2.04 -0.05

31580

2.30

1.17

-

-

-

-

-

0.66

0.78

0.53

0.65 -0.01

149720

1.00

0.44

-

-

-

-

3166

-

3.86

3.99

3.61

3.79 -0.07

32900

5.29

2.54

-

10B

-

10B

626 7633

0.70 -

1.83 9.88

1.98 9.99

1.78 9.54

1.97 0.14 9.62 -0.26

43671 1800877

2.84 13.25

1.17 8.80

-243.778B 10

-

508 500

7.36

4.07 27.48

5.04 28.00

4.20 26.25

4.80 0.73 27.37 -0.11

3841565 2106

5.62 40.49

1.96 24.25

150

-

-

-

JS Investment

1000 24.58

KASB Securities

Escorts Bank IGI Investment Bank Invest Bank

2849

Ist Cap Securities XB Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap XD

5.91

6.14

5.80

5.90 -0.01

26934

7.55

5.10

-

-

-

-

1000

-

4.10

4.28

4.02

4.02 -0.08

36502

4.95

3.20

-

-

-

-

Orix Leasing

821

4.07

5.51

5.61

5.25

5.53 0.02

31116

5.95

3.66

-

-

-

-

Pervez Ahmed Sec

775

-

2.29

2.70

2.15

2.40 0.11

2060451

2.70

1.35

-231.08R

-

-

Saudi Pak Leasing

452

-

0.58

0.55

0.55

0.55 -0.03

4175

1.70

0.40

-

-

-

-

Trust Inv Bank

586

3.66

1.50

2.34

2.34

2.34 0.84

500

3.25

1.24

-

-

-

-

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,060.58 Turnover 9,736,947 P/E (x) 19.73

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

0.65 1.95 0.10 -1.74 -0.01 -0.38 -0.19 -0.02 0.48

PE

2010 Div BR (%) (%) 50 - 7.8R 15 50 20 -

33.65 53.95 11.34 39.81 11.49 82.62 14.05 9.20 6.99

Paid up Cap(mn)

Company

Close 1,162.20 Listed cap 95,369.29 mn Payout (%) 104.13

33.05 53.00 10.50 39.48 11.49 82.00 14.00 9.20 6.98

Performance of SR Life Insurance Index

-

Performance of SR Electricity Index

33.80 54.00 11.49 41.00 11.50 84.44 14.50 9.45 7.00

LIFE INSURANCE

2010 Div BR (%) (%) 80 17.5 1 -

33.00 52.00 11.24 41.55 11.50 83.00 14.24 9.22 6.51

High Low 1,065.10 1,034.92 Total cos Defaulter cos P/BV (x) ROE (%) 0.44 2.21

Close 1,049.23 Listed cap 29,771.58 mn Payout (%) 104.74

Change -11.35 Market cap 17,214.26 mn Div Yield (%) 8.25

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

AL-Meezan Mutual F XD 1375

5.13

6.17

6.20

6.06

6.16 -0.01

6950

7.25

5.85

AL-Noor Modaraba XD

210

3.85

2.45

2.35

2.31

2.31 -0.14

2100

3.44

2.10

-

-

5

-

Atlas Fund of F. SPOT

525

1.44

3.50

3.56

3.51

3.56 0.06

1905

4.50

2.53

-

-

2.2

-

Crescent St Mod.XD

200

1.70

0.63

0.75

0.62

0.68 0.05

136217

1.10

0.16

-

-

1.2

-

Elite Cap Mod. XD

113

3.09

2.47

2.47

2.47

2.47 0.00

262

3.00

1.65

4.5

-

5

-

Equity Modaraba

524

8.38

1.21

1.37

1.25

1.34 0.13

694

1.50

0.76

-

-

-

-

-

-

Company

Last 60 days High Low

% Change -1.07 5-Day High 1,060.58 5-Day Low 1,049.23

Volume

2009 Div BR (%) (%) -

-

2010 Div BR (%) (%) 18.5

-

First Capital Mutual F.

300 13.13

4.65

5.40

5.25

5.25 0.60

5001

5.50

0.99

-

-

First Dawood Mutual F.

581

0.54

1.88

1.89

1.70

1.70 -0.18

8111

2.00

1.30

-

-

-

-

Golden Arrow XD

760

1.93

2.69

2.77

2.65

2.70 0.01

88469

3.88

2.32

-

-

17

H B L Modaraba XD

1.92

6.25

5.78

5.75

5.76 -0.49

14000

6.80

4.80

5

-

11

-

1008

5.26

6.07

6.10

6.05

6.10 0.03

1525

7.44

5.56

20

-

21

-

JS Growth Fund

3180 34.25

2.91

2.87

2.70

2.74 -0.17

843708

3.70

2.65

-

-

5

-

JS Value Fund

1186

9.68

Meezan Bal. Fund XD

1200

High

6.25 47.00 5.45 39.75 810.00 66.90 1973.48 39.97 6.49 1.40 3.80 0.63 1.06 1.52 19.50 10.95 327.05 57.12 1.35 1.03 27.10 30.00 52.00 41.33 291.48 21.62 453.50 852.33 5.38 4088.67 16.90 67.50 34.00 51.00 3.14 6.12 251.62 16.00 2.94 3.05 9.63 54.84 5.73 10.30 13.80 7.99 140.80 19.24 8.50 11.00 10.58 7.11 66.00 5.61 0.36 5.53 1.13 30.00 119.99 12.28 9.45 3.87 1249.46 11.84 1.02 46.50 30.98 58.75 8.10 9.90 1.20 27.72 2.52 70.61 10.55 47.46 37.37 1.60 1.19

7.25 44.65 5.20 41.70 845.00 63.62 2001.00 39.95 7.49 1.45 4.00 0.84 1.90 1.58 20.30 11.45 321.00 59.49 1.89 1.88 27.10 31.50 52.20 42.90 300.00 22.30 476.15 885.00 5.48 4050.02 17.85 67.01 35.69 51.51 3.49 6.79 260.92 16.99 3.00 3.05 9.87 55.99 5.50 11.30 13.90 8.14 133.95 20.08 8.98 12.00 10.37 7.23 69.05 4.61 0.65 6.30 1.00 31.49 120.50 12.98 9.90 4.00 1245.00 12.50 1.01 47.90 32.40 58.89 8.80 10.90 0.60 26.34 2.85 73.80 9.55 45.30 36.00 1.66 1.24

Low

Close

7.00 44.65 5.20 41.70 772.00 63.57 1925.00 39.90 6.00 1.21 2.80 0.79 1.15 1.55 20.20 10.75 318.00 58.25 1.21 1.45 26.00 31.49 52.20 40.08 299.00 22.25 436.00 825.02 5.21 4025.00 15.90 67.01 32.30 51.30 2.61 5.61 239.11 15.00 3.00 3.05 8.70 55.99 5.50 11.30 13.90 7.61 133.95 20.05 7.75 12.00 10.37 6.65 68.00 4.61 0.55 5.25 1.00 31.48 120.48 12.98 9.45 3.50 1238.99 10.84 1.00 47.84 31.89 58.89 7.26 9.84 0.60 26.34 2.85 72.00 9.55 45.30 36.00 1.66 1.24

7.00 44.65 5.20 41.70 778.09 63.57 1972.85 39.93 6.00 1.23 2.80 0.79 1.90 1.55 20.20 10.75 318.18 58.42 1.31 1.65 27.07 31.50 52.20 41.29 299.00 22.25 444.50 845.01 5.35 4037.50 15.90 67.01 32.30 51.30 2.69 6.79 258.94 15.18 3.00 3.05 9.75 55.99 5.50 11.30 13.90 8.04 133.95 20.05 8.14 12.00 10.37 7.20 68.00 4.61 0.55 6.00 1.00 31.49 120.49 12.98 9.45 3.93 1238.99 11.51 1.01 47.84 31.89 58.89 7.26 9.84 0.60 26.34 2.85 73.80 9.55 45.30 36.00 1.66 1.24

Change

Vol

0.75 -2.35 -0.25 1.95 -31.91 -3.33 -0.63 -0.04 -0.49 -0.17 -1.00 0.16 0.84 0.03 0.70 -0.20 -8.87 1.30 -0.04 0.62 -0.03 1.50 0.20 -0.04 7.52 0.63 -9.00 -7.32 -0.03 -51.17 -1.00 -0.49 -1.70 0.30 -0.45 0.67 7.32 -0.82 0.06 0.00 0.12 1.15 -0.23 1.00 0.10 0.05 -6.85 0.81 -0.36 1.00 -0.21 0.09 2.00 -1.00 0.19 0.47 -0.13 1.49 0.50 0.70 0.00 0.06 -10.47 -0.33 -0.01 1.34 0.91 0.14 -0.84 -0.06 -0.60 -1.38 0.33 3.19 -1.00 -2.16 -1.37 0.06 0.05

100 100 100 100 95 85 80 79 79 66 61 55 54 51 51 49 49 40 35 33 32 31 30 26 26 25 22 22 18 13 12 12 12 12 11 11 11 11 10 10 10 10 10 10 10 10 10 10 10 10 10 9 7 5 5 5 5 5 5 5 4 4 4 4 3 3 3 3 2 2 2 2 2 2 2 2 2 1 1

FUTURE CONTRACTS Symbols

Open

High

NBP-NOV 65.09 DGKC-NOV 27.50 NML-NOV 52.01 POL-NOV 243.73 ANL-NOV 11.06 LUCK-NOV 73.22 MCB-NOV 203.22 PSO-NOV 266.74 PPL-NOV 187.90 FFBL-NOV 31.44 OGDC-NOV 152.79 AICL-NOV 69.99 ENGRO-NOV 175.75 PTC-NOV 18.43 NCL-NOV 21.20 UBL-NOV 56.29 FFC-NOV 107.90 NETSOL-NOV 19.00

-

397

Habib Modaraba

Open

2.85

2.93

2.70

2.71 -0.14

300064

3.98

2.31

10

-

10

-

5.19

5.60

5.50

5.40

5.40 -0.20

329025

7.00

5.30

-

-

15.5

-

Mod Al-Mali

184 10.00

1.14

1.18

1.00

1.00 -0.14

957

2.18

0.56

-

-

-

-

Nat Bank Modaraba XD

250

6.52

6.95

7.05

7.00

7.04 0.09

1500

8.45

6.15

-

-

10

-

Pak Prem Fund

1698 11.32

8.20

8.17

8.02

8.15 -0.05

5329

9.86

7.00

-

-

18.6

Pak Strat FundSPOT

3000

7.23

7.33

7.59

7.30

7.52 0.19

7508705

7.99

6.01

-

- 11.53

-

Paramount Mod. XD

59

6.45

8.01

8.50

8.05

8.25 0.24

19500

9.45

6.55

15

-

18

-

PICIC Energy Fund

1000

1.64

5.68

5.70

5.65

5.65 -0.03

22052

5.99

4.00

-

-

10

-

PICIC Growth Fund

2835

5.13

8.02

8.34

8.00

8.00 -0.02

359961

10.05

7.60

-

-

20

-

Symbols

PICIC Inv Fund

2841

4.26

3.85

3.89

3.67

3.75 -0.10

57511

4.98

3.50

-

-

10

-

Prud Modaraba 1st XD

872

2.24

0.90

0.90

0.85

0.85 -0.05

13094

1.20

0.70

-

-

3

-

Stand Chart Modaraba

454

4.41

9.00

9.00

8.94

8.99 -0.01

9070

10.99

7.75

16.5

-

17

-

Tri-Star 1st Modaraba

212

-

1.70

1.90

1.59

1.90 0.20

1000

7.12

0.50

-

-

-

-

ASFL BWCL CRTM EXIDE GFIL

-

65.50 27.70 52.22 245.00 11.09 73.75 204.00 268.90 188.50 31.10 154.44 69.99 175.70 18.50 20.40 56.10 108.25 19.00

Low

Close

64.20 27.00 51.40 240.06 10.15 71.80 200.00 263.50 185.20 31.00 152.60 68.74 175.02 18.40 20.40 55.75 108.00 19.00

64.40 27.08 51.51 240.55 10.31 71.81 200.18 264.22 185.59 31.00 153.05 68.84 175.35 18.43 20.40 55.75 108.07 19.00

Change -0.69 -0.42 -0.50 -3.18 -0.75 -1.41 -3.04 -2.52 -2.31 -0.44 0.26 -1.15 -0.40 0.00 -0.80 -0.54 0.17 0.00

Vol 441000 407500 215000 180000 161000 132000 115000 80500 55000 53500 48000 46500 43500 39000 14000 10000 7000 3500

ZERO VOLUME Open

High

3.13 23.25 23.75 152.00 3.00

3.00 23.20 22.57 150.89 3.01

Low

Close

3.00 23.20 22.57 150.89 3.01

3.00 23.20 22.57 150.89 3.01

Change

Vol

-0.13 -0.05 -1.18 -1.11 0.01

0.00 0.00 0.00 0.00 0.00

BOARD MEETINGS

National Bank of Pakistan

KSE 100 INDEX

Fauji Fertiliser Bin Qasim Ltd

Fauji Fertiliser Co

Company

Date

Time

TRG Pakistan Limited Hinopak Motors Ltd. Dewan Salman Fibre Limited

02-Nov 04-Nov 06-Nov

6:00 12:00 11:00

TECHNICAL LEVELS Company Al-Abbas Cement

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

61.37

Support 1

10,489.05

MA (5-day)

10,626.79

Support 2

10,439.85

MA (10-day)

10,599.98

Resistance 1

10,627.30

MA (100-day)

10,019.76

Resistance 2

10,716.30

Fair Value

*Arif Habib Ltd

Rs Recommendations

78

AKD Securities Ltd

Buy

*Arif Habib Ltd

61.96

Neutral

AKD Securities Ltd

92.3

Positive

TFD Research

TFD Research

Technical Outlook Technical Analysis

Brokerage House

Fair Value

Rs Recommendations

44

Buy

AKD Securities Ltd

AKD Securities Ltd

43.29

Buy

TFD Research

TFD Research

36.85

Positive

*Arif Habib Ltd

Leverage Position

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

57.72 27.13 25.54 26.98

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

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

182.55 4,906.93 34.68 27.16

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

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

Neutral

TFD Research

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

29.1

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

58.10

25.70

Arif Habib Securities

44.37

22.60

22.40

23.25

23.65

23.00

Adamjee Insurance

46.11

67.90

67.10

69.75

70.80

68.95

Askari Bank

48.69

15.40

15.70

15.20

Azgard Nine

45.43

10.00

9.70

10.85

11.40

10.55

Attock Petroleum

32.51

290.25

287.20

298.15 302.95 295.05 101.80 102.85 101.10

14.90

14.65

25.15

70.67

100.05

99.35

53.53

9.05

8.95

9.40

9.55

9.25

Neutral

Bank Islami Pak

56.68

3.25

3.10

3.55

3.75

3.40

Bank Of Punjab

53.16

8.25

7.95

8.95

9.35

Dewan Cement

48.33

1.45

1.40

1.60

1.70

1.55

DGK Cement

57.72

26.55

26.25

27.40

27.95

27.10

Dewan Salman

56.35

1.55

1.50

1.70

1.80

Dost Steels Ltd

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

326.94 10,099.13 14.21 31.07

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

8.65

1.65

56.01

2.60

2.55

2.75

2.85

2.70

EFU General Insurance 44.16

39.20

38.60

40.70

41.60

40.10

EFU Life Assurance

42.41

63.75

63.15

65.40

66.55

64.85

174.40

173.85

16.05

16.00

(trending) and Bollinger Bands were 38 per cent narrower than normal.

Fauji Cement

41.98

4.75

4.70

4.90

4.95

4.85

Fauji Fert Bin

67.45

30.65

30.40

31.30

31.70

31.05

Fauji Fertilizer

54.35

106.85

105.80

108.80 109.70 107.75 101.85 102.95 101.20

and Bollinger Bands were 17 per cent wider than normal.

FFC is currently 0.0 per cent below its 200-day moving average and is dis- FFBL is currently 6.0 per cent above its 200-day moving average and is playing an upward trend. Volatility is extremely high when compared to the displaying an upward trend. Volatility is relatively normal as compared to

175.80 176.65 175.25 16.15

16.20

16.10

Habib Bank Ltd

52.16

100.10

99.45

average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators

Hub Power

40.71

32.95

32.70

reflect moderate flows of volume into FFC (mildly bullish). Trend forecast- reflect very strong flows of volume into FFBL (bullish). Trend forecasting

ICI Pakistan

51.88

123.50

122.85

125.00 125.85 124.35

ing oscillators are currently bullish on FFC.

Indus Motors

54.15

230.10

229.05

232.10 233.05 231.05

JOV and CO

81.18

4.30

3.85

5.15

5.50

4.70

Japan Power

47.46

1.45

1.40

1.55

1.60

1.50

JS Bank Ltd

61.30

2.60

2.55

2.70

2.75

oscillators are currently bullish on FFBL.

Pakistan Oilfields Ltd

Bank Alfalah Ltd

TFD Research

Bollinger Bands were 27 per cent narrower than normal

55.45

59.25

25.35

Bank Alfalah

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

Buy

*Arif Habib Ltd

10.25

Accumulate

AKD Securities Ltd

14.01

Positive

TFD Research

14

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

53.53 9.43 8.87 10.32

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

674.58 6,206.12 N/A 9.25

* Target price for Dec-10 & **Net Open Interest in future market (consolidating) and Bollinger Bands were 18 per cent wider than normal.

33.40

2.65

Jah Siddiq Co

44.21

9.45

9.25

9.90

10.15

9.70

Kot Addu Power

39.07

39.25

39.00

39.80

40.10

39.55

KESC

55.03

Lucky Cement

51.02

71.20

70.60

MCB Bank Ltd

54.48

197.75

195.65

Maple Leaf Cement

41.46

2.65

2.50

2.95

3.15

2.80

National Bank

43.76

63.20

62.50

64.95

65.95

64.25

Nishat (Chunian)

56.35

19.95

19.55

20.95

21.65

20.60

Netsol Technologies

50.05

18.40

18.20

18.90

19.20

18.70

NIB Bank

37.25

2.55

2.45

2.75

2.90

2.10

2.05

2.30

2.40

2.25

72.95

74.10

72.35

203.20 206.55 201.10

2.70

Nimir Ind.Chemical

49.90

1.40

1.35

1.50

1.55

1.45

261

Buy

Nishat Mills

55.79

50.70

50.35

51.70

52.35

51.35

296.6

Buy

Oil & Gas Dev. XD

68.03

152.85

151.80

PACE (Pakistan) Ltd.

45.96

2.75

2.60

3.05

3.20

Pervez Ahmed Sec

73.62

2.15

1.85

2.70

2.95

PIAC(A)

53.52

2.20

2.10

2.45

2.60

2.35

Pioneer Cement

51.11

7.70

7.40

8.25

8.45

7.95

Pak Oilfields

49.91

237.40

235.45

242.90 246.45 240.95

Pak Petroleum

46.31

182.85

181.10

187.50 190.40 185.75

Pak Suzuki

47.00

72.65

71.40

PSO XD

43.81

260.95

258.75

PTCLA

36.58

18.15

18.05

Shell Pakistan

22.75

181.15

180.00

Sui North Gas

51.06

30.95

30.60

31.95

32.60

31.60

Sitara Peroxide

72.12

12.30

12.10

12.90

13.30

12.70 24.05

281.35

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

34.10

Rs Recommendations

Positive

Technical Outlook

Technical Outlook

33.65

Fair Value

49.91 240.35 228.35 231.37

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

107.94 25,831.41 123.83 241.31

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

DGKC closed down -0.45 at 26.88. Volume was 47 per cent below aver- PTC closed up 0.01 at 18.26. Volume was 38 per cent below average and BAFL closed down -0.07 at 9.20. Volume was 55 per cent below average POL closed down -3.10 at 239.32. Volume was 25 per cent below average age and Bollinger Bands were 17 per cent wider than normal.

56.65

58.65

24.55

Attock Refinery

Leverage Position

67.45 30.52 28.24 29.53

55.90

56.95

24.80

Accumulate

Technical Outlook 373.19 40,267.19 1.25 107.45

54.25

57.50

36.09

78.06

AKD Securities Ltd

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

Buy

32.06

54.70

26.90

Arif Habib Limited

46.32

Positive

584.63 10,675.43 12.16 18.31

33

Rs Recommendations

59.30

Attock Cement

Faysal Bank

*Arif Habib Ltd

Leverage Position

Fair Value

Allied Bank Limited

Engro Chemical

Buy

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

*Arif Habib Ltd AKD Securities Ltd

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

24.04

36.58 18.95 18.64 19.61

Buy Accumulate

Leverage Position

54.35 108.03 106.74 107.89

Rs Recommendations

Technical Analysis

Brokerage House

1st 2nd Pivot Resistance 3.10 3.25 2.95

FFC closed up 1.38 at 107.90. Volume was 297 per cent above average FFBL closed down -0.27 at 30.89. Volume was 7 per cent below average

Technical Outlook

Technical Outlook

122.1 114.33

Fair Value

30.5

Rs Recommendations

127

Pakistan Telecommunication Co Ltd

Brokerage House

Fair Value

Technical Outlook

43.76 Free Float Shares (mn) 318.37 MA (200-day) 10,008.42 Pivot 10,578.05 RSI (14-day) MA (10-day) 66.31 Free Float Rs (mn) 20,343.65 KSE 100 INDEX closed down -60.13 points at 10,538.27. Volume MA (100-day) 65.63 ** NOI Rs (mn) 90.15 was 29 per cent below average and Bollinger Bands were 5 per cent MA (200-day) 71.50 Mean 64.32 wider than normal. As far as resistance level is concern, the market * Target price for Dec-10 & **Net Open Interest in future market will see major 1st resistance level at 10,627.30 and 2nd resistance NBP closed down -0.71 at 63.90. Volume was 18 per cent above average level at 10,716.30, while Index will continue to find its 1st support and Bollinger Bands were 14 per cent narrower than normal. level at 10,489.05 and 2nd support level at 10,439.85. KSE 100 INDEX is currently 5.3 per cent above its 200-day moving NBP is currently 4.0 per cent below its 200-day moving average and is disaverage and is displaying an upward trend. Volatility is extremely playing an upward trend. Volatility is extremely high when compared to the high when compared to the average volatility over the last 10 trading average volatility over the last 10 trading sessions. Volume indicators sessions. Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently reflect volume flowing into and out of NBP at a relatively equal pace. Trend forecasting oscillators are currently bullish on NBP. bullish on INDEX.

Dera Ghazi Khan Cement Co Ltd

Brokerage House

RSI 1st 2nd (14-day) Support 40.09 2.85 2.70

and Bollinger Bands were 1 per cent narrower than normal.

DGKC is currently 0.4 per cent below its 200-day moving average and is PTC is currently 6.9 per cent below its 200-day moving average and is dis- BAFL is currently 10.9 per cent below its 200-day moving average and is POL is currently 3.4 per cent above its 200-day moving average and is dis-

155.30 156.70 154.25

75.50

77.15

2.90 2.40

74.25

267.15 271.15 264.95 18.45

18.60

18.35

184.50 186.70 183.35

Sui South Gas

38.07

23.10

22.60

24.55

25.50

displaying an upward trend. Volatility is relatively normal as compared to playing a downward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is extremely high when compared to playing a downward trend. Volatility is high as compared to the average

Telecard

53.82

2.30

2.15

2.55

2.75

the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect very

TRG Pakistan

51.98

4.00

3.90

4.20

4.30

4.10

reflect very strong flows of volume into DGKC (bullish). Trend forecasting reflect volume flowing into and out of PTC at a relatively equal pace. Trend reflect very strong flows of volume into BAFL (bullish). Trend forecasting strong flows of volume into POL (bullish). Trend forecasting oscillators are

United Bank Ltd

58.47

54.80

54.25

56.35

57.35

55.80

WorldCall Tele

37.52

2.35

2.25

2.55

2.70

2.50

oscillators are currently bullish on DGKC.

forecasting oscillators are currently bearish on PTC.

oscillators are currently bullish on BAFL.

currently bearish on POL

2.45


8

Tuesday, November 2, 2010

Nokia N8 lands in hands M Imran Sharif

KARACHI: A group photograph of Imran Khalid Mahmood, Country General Manager Nokia Pakistan & Afghanistan and Henri Mattila Head of Category Marketing, Mobile Computers Middle East and Africa along with models display a new Nokia N8 mobile phone during its launching ceremony at local hotel.-Staff Photo

Apec eyes next-gen broadbands by 2020 TOKYO: Asian and Pacific countries have agreed to help establish next-generation high-speed broadband networks in their region by 2020, overcoming the "digital divide" between rich and poor nations. The accord was mentioned in a declaration adopted by telecommunications and information ministers from the 21member Asia-Pacific Economic Cooperation (APEC) forum at the end of a two-day meeting in Okinawa, Japan. The declaration, which will be submitted to the APEC summit scheduled for midNovember in Yokohama, Japan, was posted on the website of the Japanese internal affairs and communications ministry. It said: "We recommend that

the TEL (APEC Telecommunications and Information Working Group) works toward achieving the ambitious goal of access to next generation high speed broadband by 2020 to expand and improve ICT (information and communications technologies) infrastructure for knowledge-based economies in the APEC region." "We acknowledge that the digital divide in the APEC region remains an obstacle to accessing the full benefits offered by ICT," the document said. "We recognise that enhancing opportunities to access information through initiatives such as infrastructure development need to be a priority." The ministers welcomed that APEC economies have "largely" achieved their goal

of "universal Internet access by 2010" in terms of infrastructure, the document said. The goal was set in 2000. "We reaffirm our commitment toward achieving the goal of universal access to (current-generation) broadband in the APEC region by 2015," it added. Internet broadband subscriptions have increased from 0.2 per 100 inhabitants in the region in 1999 to 10.8 in 2009, an APEC document said. But access to the Internet varies between APEC member economies, Kyodo news agency said. It said the broadband penetration rate stands at 0.7 per cent in Indonesia and 2.8 per cent in Peru, while it reaches 27.1 per cent in the United States and 24.9 per cent in Japan.-APP

PTCL rings low rate call plan for Hajj, Eid ISLAMABAD: With Hajj and Eid around the corner PTCL has launched special Hajj and Eid call rates for its valued customers. The package has been launched to further facilitate the Hajis to meet their communication needs while on this spiritual journey. PTCL has given this offer keeping in mind the needs of the customers to remain in contact with their loved ones in Saudi Arabia with the best possible voice quality. PTCL as a company is driven more by a considerate approach towards its fellow Pakistanis especially when they are away from their homes, than maximis-

ing profits. PTCL Hajj and Eid package offers lowest call rates at only Rs2.99 per 20 seconds on fixed line and on mobile Rs4.25 per 20 second. This special promotional tariff is given in order to facilitate valued customers so that they can call on Saudi Arabia Fixed as well as Mobile numbers for a period of 1 month starting from 1st Nov 2010. SEVP Commercial Naveed Saeed said that PTCL has always provided its customers with best and affordable facilities in all times and at all occasions and the main focus of PTCL is to facilitate and satisfy its

customers. He further, said that in future PTCL aims to come up with more such offers for its customer's convenience keeping in mind all their needs and demands. EVP Consumer services Aasif Inam said that PTCL is announcing with pleasure that it is giving the best tariff to call Saudi Arabia and it has lowered the rates keeping in mind the connectivity needs of its customers, he further said that PTCL in future will continue offering customer friendly initiatives which would further enhance PTCL's image as a customer centric service provider.-Online

SAMENA Telecom Council confers awards

PTA, SAsia’s most progressive regulator KARACHI: Pakistan Telecommunication Authority (PTA) has been declared the `Most Progressive Telecom Regulator in South Asia for the year. This was announced by the spokesman of the PTA in a statement issued here. He said that the Chairman PTA, Dr Mohammed Yaseen, has been recognised as Best Telecom Regulatory

Leader of the Year. The South Asian, Middle Eastern and North African ( S A M E N A ) Telecommunication Council conferred these awards at a ceremony held in Casablanca on October 28. It announced awards in different categories for top performers amongst its member countries. Pakistan has received

these awards in recognition of its competitive regulatory environments across the Region and unprecedented growth shown by the telecom sector in the country. The statement further pointed out that the Chairman PTA won award in individual category while PTA won Best Performance award in Regulators category.-APP

Egypt telco denies regional expansion CAIRO: Telecom Egypt has no plans to expand elsewhere in the region for now, its chief executive said after a report it would be interested if mobile operator Zain Saudi was for sale. The Egyptian landline monopoly, which is mostly owned by the Egyptian government, is eager to increase broadband penetration in its domestic market, CEO Tarek Tantawy told Reuters in a phone call. "All of our focus in the coming period is for our home market, to become a total communications provider and increase broadband penetration," he said. "We see a future in broadband in our home market." A Dow Jones Newswires report quoted Telecom Egypt's Chairman, Akil Beshir, as saying the company would "definitely look into it" if Zain's Saudi unit was for sale. Tantawy said Telecom Egypt had "no regional plans, be it in Saudi or elsewhere, for the time being". A bid for a Zain Saudi stake would be "highly unlikely", he added.-Reuters

China Telecom Q3 net up 47pc SHANGHAI: China Telecom said its third-quarter net profit rose 47 per cent, matching estimates, as a surge in revenue from mobile and broadband services offset declining fixed line phone users. China Telecom, the smallest of China's three wireless carriers, has been aggressively marketing its 3G network and adding smartphones to its portfolio to gain market share over its two larger rivals, China Mobile and China Unicom. A Deutsche Bank analyst note said earlier this month China Telecom may become the second Chinese operator to offer Apple's popular iPhone after an exclusive agreement with Unicom expires next year. In September, the firm also ordered 300,000 Android smartphones, the bulk of those from China's ZTE Corp, as it banks on cheap smartphones to ramp up its 3G service. China Telecom's earnings before interest, taxes, depreciation and amortisation (EBITDA) margin, a key indicator for profitability in the telecoms sector, rose 0.7 per centage points to 41.8 per cent in the first nine months of the year. China Telecom shares are up about 27 per cent this year, outperforming a 6 per cent rise on the benchmark Hang Seng Index. -Reuters

KARACHI: Nokia's latest entertainment smartphone, the highly anticipated Nokia N8 with Ovi services and unlimited playing capabilities, has finally arrived in Pakistan. Customers who had preordered the Nokia N8 with Ufone service centres have started receiving their phones whereas the device is now available at retail as well. "With the N8 and the new Symbian software, we are bringing a familiar, faster and more intuitive user experience to the world's most popular smartphone platform. The Nokia N8 has so far received the highest amount of consumer pre-orders in Nokia history and we are thrilled to start shipments of the N8, the first of Nokia's new Symbian smartphone range. The Nokia N8 is the first in a new generation of Nokia devices. The device sets a new milestone in Nokia's growth and innovation. With the Nokia N8, we continue to offer an entirely new user experience - allowing people to be entertained, create and connect like never before. " says

Imran Mahmood, GM Nokia Pakistan. "To appeal to today's highend buyers, smartphones have to be enjoyable, useful and beautiful. Ease of use, excellent multimedia performance and elegant design are all essential elements of the package. The Nokia N8 is a fullblown entertainment center. Whether you want to kill some time while waiting, show your videos in HD-quality to family and friends, or catch up on the latest TV programmes via web TV, the Nokia N8 is your perfect companion. You can take amazing photos with the 12MP camera with Carl Zeiss optics, Xenon flash and a large sensor that actually rivals those found in compact digital cameras. It keeps you entertained while on the go, and also at home." says Henri Mattila, Head of Category Marketing MEA, Mobile Computers. It is mention-worthy that Ufone has offered free GPRS usage for 3 months for all N8 customers for a limited time period. This offer will help consumers enjoy the internet experience on the device at a more economical proposition.

Multan villages to get 64k DSLs MULTAN: Pakistan Telecommunication Company Limited (PTCL) (Multan), under its Universal Service Fund Policy, will offer 64,000 DSL connections against Rs300 a month in the rural areas of South Punjab, Regional General Manager (GM) Rao Aftab Ahmed said. Holding a meeting with the staff of broadband division, Aftab said the department has installed DSLAM at 90 different places in the region to offer the facility, which would pro-

vide easy Internet access to consumers. Regional GM pointed out that PTCL is the only telecommunication company that is providing every latest facility to its consumers. He directed the staff to provide DSL connections to consumers on priority basis. Manager Broadband Tariq Pervez, PRO Imran Gerdezi, In-charge Service Support Centre Manzoor Hussain and others were also present on the occasion.-APP

PTA tests cell cos billing quality ISLAMABAD: Pakistan Telecommunication Authority (PTA) has carried out billing verification of all cellular mobile operators (CMOs) by using computer software based solution meant for such checks through NEMO tool. Currently, mobile operators are offering per second, 20 second, 30 second and per minute packages. For this purpose, 30 second billing package was selected as majority of the cards were loaded in the SIMs of all CMOs. In order to verify billing system of CMOs, on-net and off-net calls of different

durations were made ranging from 28 seconds to 175 seconds. During billing verification exercise, it was observed that billing systems of majority of CMOs were accurate and amounts were being deducted correctly in accordance with their advertised tariffs. Two of the mobile companies were found overcharging in some instances. It was observed that in most of the cases operators were giving benefit to their subscribers by charging lesser tariffs in comparison to their advertised tariffs.-Agencies

BANGKOK: A pedestrian walks past a giant advertisement for an I-Phone 4 displayed at shopping mall in Bangkok.- Reuters

Intel Pak gets new country manager KARACHI: Intel Pakistan has announced the appointment of Naveed Siraj as its new Country Manager. Siraj joins Intel from HewlettPackard and will be based in Karachi. Siraj began his career in 1993 and has in total more than seventeen years' IT industry experience in roles including Account Sales Manager, National Sales Manager and Country Lead. He holds a Bachelor's in Computer Science & Engineering, from University of Nebraska at Lincoln and a Master's in Industrial Engineering from the State University of New York.-PR

Apple smart cells outrun Blackberrys in QoQ sales SINGAPORE: Apple has for the first time outpaced Blackberry-maker Research in Motion in global smartphone sales thanks to the success of its iPhone 4, a report said. Industry tracker IDC said Apple sold 14.1 million iPhone units in the third quarter while Canada's Research in Motion shipped 12.4 million Blackberry devices. "The company's record shipment performance can be attributed to the introduction of the iPhone 4 in 17 new countries last quarter," said the International Data Corporation (IDC). "The record performance came despite 'Antennagate,' the name used to describe the controversy around alleged iPhone reception problems, in July." Global mobile phone sales surged 14.6 per cent to 340.5 million units in the third quarter from a year earlier, driven mainly by the strong appetite for smartphones, IDC said.Agencies

Brazil OKs Portugal Telecom’s $5bn Oi stake SAO PAULO: Portugal Telecom has won preliminary approval to buy a stake in Brazilian phone carrier Oi, opening the way for its planned purchase of $5 billion worth of shares in the company. Anatel, Brazil's telecommunications industry regulator, said the purchase can go forward after 74 million reais are paid in overdue debt owed to the Fistel fund that helps pay for the oversight of the industry. "The deal creates no cross shareholdings. There are no conflicting (phone) licenses. We don't think there are any impediments from the operational point of view," said Joao Rezende, an Anatel counselor, at a press conference. Portugal Telecom agreed in July to pay 8.44 billion reais ($4.97 billion) for undisclosed stakes in Oi, Brazil's largest phone company, owned by Andrade Gutierrez and La Fonte. The transaction, which Oi dubbed "a partnership," will allow both companies to gain presence in Brazil, the largest phone market in the Americas after the United States, and to expand overseas. Portugal Telecom Chief Executive Officer Zeinal Bava has repeatedly said that Brazil is the lifeblood of the company and offers the best platform for growth.-Reuters


9

Tuesday, November 2, 2010

Oil jumps almost 3pc as Saudi talks of $70-$90 Saudi Arabia says consumers looking for $70 to $90 oil LONDON: Oil jumped almost 3 per cent towards $84 a barrel on Monday after Saudi Arabia's oil minister said consumers were looking for prices between $70 and $90, a higher range than previously targeted. Ali al-Naimi said on Monday the oil price was "very decent" for producer nations and consumers and that consumers were looking for a market between $70 and $90. "Consumers are looking for oil prices around $70, but hopefully less than $90," Naimi said in comments following a speech in Singapore. US crude for December rose $2.12 to $83.55 a barrel by 1418 GMT. ICE Brent was up $1.95 at $85.10. "Prices have jumped sharply in the last 30 minutes. Naimi's comment is probably the most convincing reason," said Carsten Fritsch, analyst at Commerzbank in Frankfurt.

"It gives assurance that the Saudis won't do anything to prevent a further rise above $80," he added. "At least until prices exceed $90." Naimi said last month that oil prices between $70 and $80 were ideal. Saudi Arabia, OPEC's largest producer and its most influential member, has been praising that price range for more than a year. When oil prices were racing towards their all-time high of nearly $150 a barrel in July 2008, Saudi Arabia assured the market it would produce more oil if demand justified it. This rally is more modest and Naimi said there was no cause for alarm. "We're in a very comfortable zone. I believe this zone should continue for some time. I would not predict for how long," Naimi said. "We are in a very decent environment right now for price. If I can be audacious, I would say producers, con-

sumers and companies are all happy with this price." Oil has traded mostly between $70 and $80 in the past year. Crude oil had earlier gained a lift from expectations the US Federal Reserve would commit to a new round of monetary stimulus this week, which weighed on the dollar, and from strong Chinese manufacturing data. Traders said prices also drew support after a parcel exploded at a courier company in Athens. Oil also rose following unexpectedly strong manufacturing data from China, the world's second-largest oil consumer, which also gave a lift to shares in Europe and Asia. Two surveys of the manufacturing sector, which are designed to provide an early indication of conditions in a broad range of industries, both jumped to six-month highs in October. -Reuters

GAZA STRIP - PALESTINE: Palestinian farmers sort peanuts during the harvest in a field outside the southern Gaza Strip town of Rafah, near the border with Egypt. -Agencies

Indian wheat seen ranged; festive demand to support MUMBAI: India wheat futures may trade in a narrow range with some positive bias during the week on festive demand, increase in government support prices and some exports to Bangladesh, traders and analysts said. "There is some increase in domestic demand due to festive season," said Kamal Mittal, a trader in Karnal, a major trading centre. The most-active November wheat on the National Commodity and Derivatives Exchange (NCDEX) ended down 0.16 per cent to 1,264.2

rupees per 100 kg on Monday. India raised the price it will pay to domestic farmers to buy new season wheat by 1.82 per cent, the lowest increase in five years, signalling adequate stocks of the grain. India will pay its farmers 1,120 rupees ($25.25) per 100 kg for the main winter food crop, as against 1,100 rupees in the previous season, Information and Broadcasting Minister Ambika Soni said. Analysts and traders said though the rise was only marginal, it will still act as an incentive to farmers.

India grows only one wheat crop a year, with planting in October and harvesting during March-April. Farm ministry officials say better soil moisture, a result of plentiful monsoon rains, will help India exceed this year's all-time high harvest. India, which curbed grain exports in recent years to head off domestic price rises, made some concessions to export to neighbouring Bangladesh recently after some global suppliers cancelled deals to ship Black Sea wheat since Russia curbed grain exports. -Reuters

Palm oil at 27-month high on weather outlook KUALA LUMPUR: Malaysian palm oil futures hit a new 27month high on Monday on concern heavy rains may affect palm oil yields and a weak dollar trend lent support. Benchmark Malaysian crude palm oil futures rose as much as 1.2 per cent to 3,098 Malaysian ringgit ($1,002) per tonne -- a level unseen since July 28. 2008 and a touch below a key resistance level. The contract ended at 3,092 ringgit. Overall traded volume stood at 14,307 lots of 25 tonnes each, down from the usual 10,000 lots. "Exposure to heavy rains could bring down yield quality in palm fresh fruits and that could support the market," said a

trader with a foreign commodities broker. "Also, the replanting scheme may help. We could see prices go above 3,100 ringgit." A top Malaysian industry official said the government will carry out new scheme to replant 365,000 hectares of oil palms older than 25 years to lift flagging output. But exports appear to be lagging. Shipments of Malaysian palm oil products for October fell 8.5 per cent to 1,354,128 tonnes from 1,479,602 tonnes

shipped in September, cargo surveyor Intertek Testing Services said on Monday. Another cargo surveyor Societe Generale de Surveillance said October exports fell 12 per cent. In Asian trade hours, US soyoil for December delivery rose 1.1 per cent ahead of a US Federal Reserve policy meeting this week. The most active September 2011 soyoil on China's Dalian Commodity Exchange gained 1.2 per cent. Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for October 29 2010 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1245

1185

October (3rd Wednesday)

1160

1125

November (3rd Wednesday)

1170

1125

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for October 29 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY

Cash buyer 2186 Cash seller 2186.5 3-months buyer 2185 3-months seller 2200 15-months buyer 2125 15-months seller 2135 27-months buyer 2125 27-months seller 2135

2300 2302 2329 2330 2373 2378 2422 2427

8224 8225 8219 8220 8045 8055 7640 7650

2436 2437 2435 2436 2398 2403 2367 2372

22675 22700 22890 22895 22475 22575 21550 21650

TIN

ZINC NASAAC

25455 2392 25460 2392.5 25500 2418 25550 2420 25050 2442 25100 2447 2402 2407

2200 2205 2220 2230 2225 2235 2275 2285

European vegetable oil prices ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Nov10/Jan11 868.00, Feb11/Apr11 873.00, May11/Jul11 876.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 870.00+10.00, May11/Jul11 875.00+10.00, Aug11/Oct11 860.00+5.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1380.00, Apr11/Jun11 1360.00+10.00, Jul11/Sep11 1380.00+10.00. LINOIL: Any origin dlrs tonne extank Rotterdam Nov11/Dec11 1305.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Nov10 1060.00+10.00, Dec10 1050.00+5.00, Jan11/Mar11 1047.50+15.00, Apr11/Jun11 1047.50+17.50. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1077.50, Jan11/Mar11 1072.50. PALMOIL: RBD dlrs tonne fob Malaysia Dec10 1032.50+17.50, Jan11/Mar11 1027.50+15.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Dec10 1040.00+15.00, Jan11/Mar11 1035.00+12.50, Apr11/Jun11 1040.00+12.50, Jul11/Sep11 1042.50. PALM STEARIN: Dlrs tonne fob Malaysia Nov10 1015.00+15.00, Dec10 1015.00+15.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Dec10 910.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1445.00+5.00, Nov10/Dec10 1445.00+5.00, Dec10/Jan11 1445.00+5.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Nov10/Dec10 1925.00. Reuters

Indian spot sugar gains for 4th day MUMBAI: India's spot sugar rose for a fourth straight day on Monday as the upcoming Diwali festival lifted retail demand, dealers said. "Diwali demand has supported prices....there is good offtake in the physical market," said a trader at Vashi, a major trading centre. Demand for sugar usually goes up ahead of Diwali, the Hindu festival of lights, which falls in the first week of November. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety rose 1.92 per cent to 2,650 rupees ($59.6) per 100 kg. India is likely to take a decision on sugar exports after the second week of November, Farm Minister Sharad Pawar said on Wednesday. He said the country is likely to produce 25 million tonnes sugar in 2010/11. Fresh showers in India's key sugar producing states of Maharashtra and Karnataka are likely to delay cane crushing, industry and government officials told Reuters. -Reuters

Copper rallies on strong US, China data

Arabicas fall from highs, cocoa steady

The latest LME data showed copper stocks fell by 925 tonnes to 367,575 tonnes, down around a third since hitting a 6-1/2 year peak of 555,025 tonnes in February. Aluminium closed at

LONDON: ICE arabica futures prices fell on Monday having touched a 13-year high on Friday driven by supply concerns, while cocoa was little changed after a peaceful election in top grower Ivory Coast on Sunday. ICE raw sugar futures reversed early gains, buoyed by concerns over tight supplies, and remained in reach of the psychological 30 cents a lb, with potential to hit a 30-year high above 30.4 cents, brokers said. Arabicas consolidated after hitting the new peaks on Friday. ICE December arabica futures were down 4.35 cent or 2.1 per cent at $1.9910 a lb at 1517 GMT. On Friday, December arabicas soared 6.85 cents or 3.5 per cent to close at $2.0345 per lb, the strongest settlement for the spot contract since September 1997. Liffe January robusta coffee was up $4 or 0.2 per cent at $1,974 per tonne, having earlier touched a two-year peak of $2,010. Cocoa futures were little changed as traders took stock of a peaceful election in Ivory Coast. ICE December cocoa was down $9 or 0.3 per cent at $2,788 per tonne in thin volume of 4,200 lots. Liffe second-month March cocoa was unchanged at 1,886 pounds a tonne in low volume of 1,610 lots. A senior European physical cocoa trader said the peaceful election was good news for the cocoa sector in Ivory Coast and would help to guarantee steady supplies reaching the ports. ICE raw sugar futures erased early gains and were supported by concerns over tight supplies from top producer Brazil, and uncertainty over whether No. 2 producer India would permit exports of the sweetener onto the world market. ICE March raw sugar futures were down 0.04 cent or 0.1 per cent at 29.08 cents a lb. London December white sugar was down 70 cents or 0.1 per cent at $721.90 per tonne in moderate volume of 3,731 lots. -Reuters

LONDON: Copper rose by more than 2 per cent on Monday after US and Chinese manufacturing data boosted demand prospects and was also supported by a backdrop of increasing market tightness. Copper for three-months delivery on the London Metal Exchange closed at $8,300 a tonne, versus a close of $8,199 on Friday when caution about the scale and scope of US monetary easing drove it to a three-week low. The metal hit a high for the day of $8,376.50 a tonne after data showed the pace of growth in the US manufacturing sector quickened unexpectedly in October, raising investors' hopes the US economic recovery could be gathering pace. This data followed figures showing China's official purchasing managers' index rose to 54.7 in October from 53.8 in September, leaping past expectations, while the HSBC PMI, a private companion, climbed to 54.8 from 52.9. "Base metals and copper especially got some support from good PMI data in China and the ISM data," said Daniel Briesemann, commodity analyst at Commerzbank. "On balance, this data showed that demand should be quite strong."

Shanghai metals rallies Benchmark third-month Shanghai copper rose 1.9 per cent to 63,580 yuan. Shanghai zinc rose 2.9 per cent. $2,372 a tonne from $2,345, zinc closed at $2,449 a tonne from $2,423, while battery material lead was at $2,465 a tonne from $2,448. The latest LME data showed one entity held a significant 50-80 per cent of LME lead warrants, tom and cash positions, and two entities held between 40-50 per cent of tin warrant, tom and cash positions. Tin closed at $25,600 a tonne from $25,600, while nickel was last quoted at $23,245/23,250 a tonne from $22,900 a tonne. "There is a high possibility of a short-term correction in industrial metals prices as there are several drivers which are fully priced in to the market in our view," Deutsche Bank said in a note. "This includes quantitative easing, a weakening US dollar and the prospect for base metal ETFs." -Reuters

Gold retreats as dlr recovers; Fed eyed LONDON: Gold eased in Europe on Monday as the dollar firmed, but remained supported after three consecutive months of gains by expectations the Federal Reserve will unveil further US quantitative easing at a meeting on Nov. 23. Spot gold was bid at $1,352.70 an ounce at 1516 GMT, against $1,357.05 late in New York on Friday. US gold futures for December delivery eased $4.50 an ounce to $1,353.10. Ahead of the Fed meeting starting on Tuesday, market expectations have centred on an initial commitment to buy at least $500 billion in Treasury debt over five months to spur lending and support economic recovery. Expectations for further QE has hurt the dollar and lifted gold in recent weeks. "Some level of QE has been built into the gold price. If we don't get QE then the market will pull back," said HSBC analyst James Steel. "(A) more gradualist, modest approach will keep the market steady, slightly higher." Signs of a firmer basis to the US economic recovery could dampen appetite for largescale quantitative easing, analysts said. If the easing measures are weaker than expected, the dollar could recover and gold come under pressure. Reports indicated gold buy-

ing in major bullion consumer India had been firm in recent months. The president of the Bombay Bullion Association said India's October gold imports rose to 43 tonnes, above a Reuters poll forecast of 41.5 tonnes. "The Diwali religious festival takes place in India on Friday, and physical demand for gold should remain high in the run-up to this holiday," said Commerzbank in a note. On the supply side, top 10 gold producer Harmony Gold cut its guidance for full-year output to around 1.64 million ounces from 1.7 million ounces. Silver prices rose to their highest in 30 years, tracking gains in gold to break through $25 an ounce for the first time since 1980, peaking at $25.03 an ounce. The metal was later bid at $24.63 an ounce against $24.64. Holdings of the world's largest silver-backed exchange-traded fund, the iShares Silver Trust, fell nearly 40 tonnes on Friday, data from the fund showed, to 10,141.92 tonnes. Palladium extended the previous month's 15 per cent gains to hit a near 9-1/2 year high at $655 an ounce and was later at $646.85 an ounce against $643. Among other precious metals, platinum was at $1,709.99 an ounce against $1,698.50. -Reuters

Tokyo rubber inches higher BANGKOK: Tokyo rubber futures edged higher on Monday on the back of rebounding Shanghai futures and limited supply in producing countries, but weak oil prices still weighed on the market, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for April delivery climbed 0.3 yen to settle at 327.2 yen ($4.06) per kg. It rebounded from an intra-day low of 323.6 yen after the Shanghai market opened and prices started rising. "It seems like the Japanese market is now completely dominated by the Chinese market," one dealer said. The most active rubber contract in Shanghai for May delivery rose 680 yuan to finish at 31,420 yuan per tonne on Monday. Dealers said TOCOM rubber could rise further on Tuesday after prices finished above the psychological level of 325 yen per kg, while limited supply in producing countries should provide additional support. -Reuters

National Commodity Exchange Ltd Trading Summary Date

01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010 01-Nov-2010

Commodity

Contract Date

CRUDE100 DE10 CRUDE100 JA11 CRUDE100 FE11 SILVER - SL500 DE10 SILVER - SL500 JA11 GOLD 01oz DE10 GOLD 01oz JA11 GOLD 01oz FE11 GOLD 100oz DE10 GOLD 100oz JA11 GOLD 100oz FE11 GOLD NO10 GOLD DE10 GOLD JA11 Kilo GOLD NO10 Kilo GOLD DE10 Tola Gold50 NO10 Tola Gold100 NO10 Mini Gold 1-Aug Mini Gold 2-Aug Mini Gold 3-Aug Mini Gold 4-Aug Mini Gold 5-Aug TT Gold 1-Sep TT Gold 2-Sep TT Gold 3-Sep IRRI6W 04NO10 Rice IRRI NO10 RBD Palm Olein NO10 KIBOR3M 10-Dec KIBOR3M 11-Mar

Price Quotation

Open

High

Low

Close

US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

82.08 82.68 85.60 24.12 24.18 1349.10 1350.50 1349.10 1346.90 1350.40 1351.40 37128.00 37275.00 37329.00 37460.00 37284.00 43487.00 43477.00 38327.00 38367.00 38380.00 38393.00 39407.00 44037.00 44350.00 44300.00 2402.00 3345.00 4497.00 86.74 86.15

82.37 83.06 85.60 25.05 24.89 1365.50 1366.00 1367.00 1364.10 1360.60 1360.60 37624.00 37582.00 37599.00 37545.00 37554.00 43792.00 43792.00 38652.00 38601.00 38613.00 38626.00 39407.00 44416.00 44357.00 44372.00 2402.00 3391.00 4521.00 86.74 86.15

80.60 81.41 82.20 24.01 24.18 1342.50 1343.30 1344.10 1345.20 1350.40 1351.40 37128.00 37275.00 37329.00 37275.00 37284.00 43487.00 43477.00 38327.00 38367.00 38380.00 38393.00 38639.00 44037.00 44083.00 44099.00 3332.00 3345.00 4497.00 86.72 85.85

82.37 83.06 83.62 24.87 24.89 1360.10 1360.60 1361.20 1360.10 1360.60 1360.60 37573.00 37582.00 37599.00 37545.00 37554.00 43792.00 43792.00 38652.00 38601.00 38613.00 38626.00 38639.00 44416.00 44357.00 44372.00 3378.00 3391.00 4521.00 86.72 85.85

Traded Volume in lots 212 41 4 242 1,680 1,087 400 31 9 3 1 1 1 -

Previous Settlement Price 81.83 82.52 83.07 24.88 24.90 1359.30 1360.20 1361.10 1359.30 1360.20 1361.10 37578.00 37587.00 37604.00 37550.00 37559.00 43798.00 43798.00 38660.00 38606.00 38620.00 38633.00 38646.00 44425.00 44363.00 44379.00 3332.00 3345.00 4497.00 86.74 85.83

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

Current Open Interest Settlement in Lots Price 82.37 43 83.06 12 83.62 1 24.87 106 24.89 1360.10 571 1360.60 1,135 1361.20 246 1360.10 5 1360.60 1361.20 37573.00 43 37582.00 7 37599.00 37545.00 1 37554.00 43792.00 43792.00 38652.00 38601.00 38613.00 38626.00 38639.00 44416.00 44357.00 44372.00 1 3378.00 3391.00 4521.00 86.72 85.85 -


Manchester United's manager Alex Ferguson attends a news conference at Ataturk stadium

10

Tuesday, November 2, 2010

PCB not to back suspended trio, says Ijaz Butt Monitoring Desk LAHORE: The Pakistan Cricket Board (PCB) on Monday made it clear that it will not back the alleged spotfixing trio suspended by the International Cricket Council (ICC). Talking to the media in Lahore, PCB chief Ijaz Butt said the suspended players Muhammad Amir, Salman Butt and Muhammad Asif, will only be included in the squad after the ICC's approval. A day eariler the ICC had rejected the appeals of Salman Butt and Muhammad Amir against their suspensions. He also informed that the names of the 30 players for the ICC Cricket World Cup 2011 will be announced at the end of this month. The PCB chief also brushed aside the need for a batting coach.

Ferdinand to miss United’s next outing MANCHESTER: Defender Rio Ferdinand will miss Manchester United's Champions League match at Bursaspor, the Premier League club said on Monday. United gave no reason for the absence of the England centre back, who played the full 90 minutes of his team's 20 win over Tottenham Hotspur on Saturday. "Ferdinand... will not feature in Tuesday's clash with the Turkish champions," a statement on the club's website (www.manutd.com) said after the team checked in at Manchester Airport without the 31-year-old. "That may pave the way for Chris Smalling to make his third European appearance of the season alongside Nemanja Vidic in the centre of defence." United lead Group C with seven points from three matches, with Scottish champions Rangers second on five. Spain's Valencia are third on four points, while Bursaspor are bottom with zero.-Reuters

Madrid eyes last 16 slot LONDON: Real Madrid will qualify for the knockout stage of the Champions League if it can maintain its supreme form and complete a Group G double over AC Milan in the standout match of the tournament this week. Madrid and Milan, who have won Europe's biggest prize 16 times between them, met two weeks ago when early goals by Cristiano Ronaldo and Mesut Oezil earned the Spanish club a 2-0 win. The result kept up Madrid's perfect record in the competition, lifting it onto nine points. A victory at the San Siro on Wednesday will guarantee Jose Mourinho's side a top-two group finish and allow it to relax in its final two matches. "Our objective is to secure the top place in the group as quickly as possible," Madrid defender Ricardo Carvalho said. "At the Bernabeu stadium, we were better than they were and now they will want to show that they can beat us."-Agencies

Razzaq urges for removing players’ insecurity ABU DHABI: Shortly after playing the "greatest innings" of his career, Pakistan allrounder Abdul Razzaq has urged the team management and administration to work towards removing the uncertainty players feel over their place in the team because such an atmosphere is counterproductive to Pakistan's success. Razzaq, who blitzed 109 off 72 balls to wrench the second ODI from South Africa's grasp in Abu Dhabi, said he too felt insecure about his spot in the side and that Pakistan had failed to maximise his potential over the years. "I always play the match as if it is my last," Razzaq said. "If players have this constant fear hanging over them that they will fail and then be dropped then they will never be able to perform properly.

Even I felt that if I didn't do anything in this game I would be dropped. This threat has to be removed from the team because it is not productive. "Those guys who don't perform for a couple of matches, they shouldn't be dropped so quickly. They need to be encouraged and their morale needs to be boosted." Razzaq launched his breathtaking assault against South Africa from No 7 in the line-up, a position at which he's batted 81 times in his 245-ODI career. The remainder of his innings, however, has been spread over every position, from opener to No 11. He's also not been a regular member of the ODI side, despite his match-turning potential, and was exiled for two years for his association with the unofficial Indian Cricket League.

The new world golf No 1

Westwood ends Woods’ 281-wk reign LONDON: Briton Lee Westwood took over as world number one when the new rankings were published on Monday after Ryder Cup team mate Martin Kaymer finished down the field at the Andalucia Masters. Westwood ended Tiger Woods's unprecedented 281week reign at the top of the rankings after German Kaymer finished with a closing 75 for a seven-over-par tally of 291 at Valderrama on Sunday. Speaking to a teleconference

moment despite not actually being on a golf course. "To be able to sit down and say there's nobody better right now, I think it has to be the highlight," the 37-year-old said. "When you're growing up and people say 'What do you want to achieve?', you say 'I want to be the best in the world'. "It's a planet isn't it? I'm the best on the planet." The Englishman will have to keep a close eye on Woods and was expecting the American to

from his home on Sunday while he rests his calf muscle before next week's WGCHSBC Champions in Shanghai, Westwood was in no doubt this was his finest

come right back at him in China. "That's the kind of relationship we have. I give him a little bit of stick and he gives it back," he said.-Reuters

"I think my talent has not been properly utilised both in batting and bowling, especially, my batting spot has never been permanent," Razzaq said. "I don't think I have been utilised properly over the last five or six years as a batsman." Razzaq hoped his century against South Africa would lift Pakistan cricket, which is reeling from spot-fixing allegations and poor on-field performances. "Every time there is a controversy or we lose one or two matches, people start to write us off, which is wrong," Razzaq said. "I would request the fans to please keep faith in us so that we can lift ourselves." The ODI series between Pakistan and South Africa is level at 1-1 ahead of the third match on Tuesday in Dubai.Agencies

Pak-Thai soccer clash on Sunday LAHORE: The seventh Pakistan-Thailand clash in international soccer arena the first in U-23 event - will be recorded in 16th Asian Games Football Tournament (Group-F) when both the teams will face each other in the Huangpu Sports Center, Guangzhou on Sunday, November 07. According to a press release, Pakistan will face Thailand during the football event of XVI Asian Games to be held under Olympic Council of Asia (OCA) at Chinese city Guangzhou from November 7-26. The Pak-Thai tussle would be played 5 days prior to the opening ceremony at Haixinsha Island in the Pearl River. Other Pakistan's opponents in Group-F will be Maldives and Oman. Thailand is 61 places better than Pakistan in FIFA/CocaCola World Ranking issued on October 20. The Thai's record in track record between two nations is appreciable, winning five of the last six matches. They will be hard nut to crack, enjoying 108th berth in ranking, compared to Pakistan's 169.-NNI

AHMEDABAD: India's Tendulkar walks to bat in the nets as captain Dhoni exercises during a practice session before their first test cricket match against New Zealand.-Reuters

Swann upbeat after injury scare LONDON: Graeme Swann became England's first injury scare of their tour of Australia when he was struck on the thumb while batting in the nets during the squad's first training session at the WACA on Monday. However, the extent of the damage was quickly played down by his team-mate Stuart Broad, as England set their sights on their opening first-class warm-up match against Western Australia on Friday. Swann is currently the highest-ranked spin bowler in the world, and is widely considered to be England's key weapon going into the Ashes. So there was understandable concern when he was struck on the thumb by a rising delivery from Tim Bresnan. He received ice treatment and strapping, but his upbeat body language suggested that no long-term damage had been inflicted. "He's fine. It's just a bit of precautionary strapping,"

Broad told reporters after the session. "I don't think he's in any trouble at all. He just got a bit of a blow, which you're used to in nets. I think he's pleased his thumb got him out of the running." "Thanks to both of you who enquired about my thumb," Swann later wrote on his Twitter feed. "It's fine, I just like my boiled eggs runny." Swann was nevertheless the third member of England's bowling contingent to suffer an injury worry, following the rib injuries sustained by James Anderson and Chris Tremlett during the pre-series bonding session in Bavaria last month. Anderson, however, took part in the nets session without any obvious discomfort, although having been diagnosed with a fracture, he may not be risked until England's subsequent practice matches at Adelaide and Hobart later this month.Online

NZ manager quits after BD thrash WELLINGTON: New Zealand Cricket (NZC) general manager Geoff Allott said Monday he will step down at the end of the month, making him the first casualty of the Black Caps' unprecedented series loss to Bangladesh. Allot said the 0-4 whitewash to Bangladesh last month, described by local media as a low point in the team's history, showed the NZC had to rethink its strategy and he was not part of the plan. "I have effectively restructured myself out of a job, but I truly believe this to be in the best interests of cricket," the former international bowler said. "This was a difficult decision for me to make because I am passionate about the game that has given me so much." Allott had initially described the Bangladesh whitewash as a "bad hiccup" and insisted no management overhaul was needed for the Black caps to bounce back.-APP

WTA C’ships sign off from Doha in style DOHA: With a car crash, coronation and stunning on-court retirement, there was no shortage of talking points from the WTA Championships' final appearance in Doha. As the dust settled on Sunday's scintillating final between Kim Clijsters and Caroline Wozniacki, tennis chiefs in Istanbul will be licking their lips at the prospect of hosting the prestigious season-ending tournament for the next three years. Tour chief Stacey Allaster believes Doha's last hurrah will be a hard act to follow but is confident the future of the tournament, and the game, are bright. "We've had a great final year in Doha, we could not have asked for a better week," Allaster told Reuters in an interview. "This has been part of the journey of building women's tennis in the Middle East. We could not have asked for a better week.

"I'm excited about the Championships in Istanbul. It's great for our brand to go to a new market and have an opportunity to build women's tennis in Turkey." There was plenty of action on an off the court before Sunday's final, which Clijsters eventually won in three sets. The Belgian narrowly escaped injury from a car crash on the way to her semi-final, Wozniacki was crowned the year-end world number one and Russian veteran Elena Dementieva stunned the crowd by announcing her retirement shortly after her final group game. Allaster said women's tennis was flourishing because it bridged the gap between sport and entertainment, which had attracted more sponsors despite difficult economic times. "These are the very best female athletes in the world, and there's a duality of sport and

entertainment," she added. "So if you are a brand that wants sport in the classical sense you are probably going to invest in men's sport. "But if you are a brand that wants sport, power, athleticism and inspiration crossing over to lifestyle, women's tennis is a great brand to align with." The absence of injured Williams sisters Serena and Venus has been a major talking point throughout the Championships, and Allaster acknowledged the void was keenly felt. "There's no doubt we would have loved to have Serena and Venus here with us this week. They were our finalists last year and they are two of the finest female tennis players our sport has ever had," she said. There were seven different nationalities represented at the season-ending tournament, which Allaster said boded well for the game's global growth.Reuters

DOHA: Caroline Wozniacki of Denmark and Kim Clijsters of Belgium hold their trophies after their WTA Championships final tennis match.-Reuters


US factory growth Recovery more fragile than quickens; more expected: IEA Fed easing on tap NEW YORK:Surprisingly strong growth last month in the US manufacturing sector was good news for a sluggish economy but was probably too little, too late to stop the Federal Reserve from more monetary easing. The quicker pace of factory growth was also tempered by a separate report showing US personal income fell in September while consumer spending remained tepid. The data was among the last before central bank officials gather Tuesday and Wednesday to assess the economy and its uneven recovery from the worst downturn in 80 years. The Fed is expected to inject more money into the economy through bond purchases, and that view was bolstered by the consumer data, which showed no inflation pressure in the economy. All of that overshadowed

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International & Continuation

Tuesday, November 2, 2010

news that the Institute for Supply Management's index of national factory activity rose to 56.9 in October from 54.4, with the employment, new orders and prices paid components of the index also rising. "The focus will be on the elections and the Fed this week, so the impact from this won't be as strong as it would have been otherwise," said David Kupersmith, head trader at Third Wave Global Investors in Greenwich, Connecticut. "But the ISM is one of the most important pieces of data out there and the Fed will be looking at it as it prepares its comments," he added. US stocks rose, boosted partly by strong US and Chinese factory data, while the dollar rose and US Treasury prices turned negative. Alan Ruskin, global head of G10 currency strategy at Deutsche Bank, said the Fed

won't be able to change course easing based on one strong ISM report. But he said it would provide fuel for Fed hawks who are dubious about more easing and "will tend to add to expectations that the Fed will want maximum flexibility to turn off the printing press" should strong economic data warrant it. Separate data Monday showed US construction spending rose unexpectedly in September, driven by a one-year high in investment in public projects. Beyond manufacturing, though, the economy still looks less than robust. The Commerce Department on Monday said consumer spending rose 0.2 per cent in September after advancing 0.5 per cent in August. It was held back by a surprise 0.1 per cent decline in income, the first slide since July 2009. Economists had expected a 0.2 per cent gain.-Reuters

SINGAPORE: Global economic recovery has been more fragile than expected and oil inventories remain very high, Nobuo Tanaka, executive director of the International Energy Agency (IEA) said on Monday. He also cautioned about the creation of an asset bubble in commodities following the second round of quantitative easing by the US Federal Reserve. "The economic recovery has been a bit more fragile than people thought," he told Reuters in an interview at the Singapore International Energy Week conference. "There's still some uncertainty about recovery in Europe, while China is concerned about inflation and they're tightening policy." Tanaka said the oil market was currently very well supplied. "OECD stock levels are very, very high -- historically high, and this situation will continue well into next year." The IEA, which advises major industrial nations on energy policy, remains concerned about a rapid rise in oil prices.-Reuters

China and India lead way in Asia, UK perks up LONDON: Manufacturing growth in China and India powered ahead last month and UK industry also picked up steam, data showed on Monday, countering sluggishness in the US economy and a faltering Japanese recovery. Two surveys of Chinese executives showed broad-based strength in the manufacturing sector of the world's secondlargest economy and helped boost Asian shares outside Japan by two per cent. The official purchasing managers' index (PMI) rose to a sixmonth high in October of 54.7 from 53.8 in September, easily beating market forecasts of 52.9. A figure above 50 denotes expansion; a reading below 50 indicates contraction. Equivalent surveys from Europe are due on Tuesday but Britain's PMI showed manufacturing growth picked up pace last month for the first time since March. Flash October figures for Germany, released last month,

also gave a strong reading although much of Europe remains mired in debt and poised to cut public spending to deal with it -- a move that will crimp economic growth going forward. The unexpected rise in Britain's index to 54.9 will increase doubts that the Bank of England will soon embark on more quantitative easing. It followed official data last week that showed the UK economy grew a surprisingly strong 0.8 per cent in the third quarter from the second. Investors are in little doubt, however, that the Federal Reserve, which holds a policy meeting on Tuesday and Wednesday, is poised to inject more money into a struggling US economy. The United States reported on Friday that its economy grew at a tepid 2.0 per cent annualised rate in the third quarter, reinforcing expectations the Fed will agree this week to embark on a new programme of bond purchases. US October ISM data -- which match the PMIs -- is due later in

the day and forecast to edge down. "Quantitative easing is what the market's focused on. That'll lift all boats," said James Holt, a Sydney-based investment specialist at BlackRock, the world's biggest fund manager. Manufacturing in India -Asia's other emerging powerhouse -- put in a performance every bit as strong as China's. The HSBC Markit PMI for India, Asia's third-largest economy, rose to 57.2 in October from 55.1 in September. "The manufacturing sector remains supported by strong local consumption growth, and growing employment suggests that domestic demand will remain robust," Frederic Neumann, co-head of Asian Economics Research at HSBC, said. The strength of China's official PMI was especially striking because the index normally heads down in October, said Yu Song and Helen Qiao, economists at Goldman Sachs.-Reuters

CONTINUATION No #1 Babri CottonXB Bannu WoollenXD Bestway Cem Chakwal Sp.XD Climax Eng. Colony Mills Ltd Crescent FibresXD D.S. Ind. Ltd. Data Agro Data Textile Dewan Auto Engg Dewan Cement Dewan Farooque Sp. Dewan Khalid Dewan Motors Dewan Mushtaq Dewan Textile F.Cap.Mut.Fund Flying Cement Gatron Indust.XD Genertech Ghazi Fabrics XD Gillette Pak Globe (O.E) Globe Textile Goodluck IndXD Grays of Cambr.XD Gulistan Sp.XD Gulistan TextileXD Gulshan Sp.XDXB H.M.Ismail Hajra Textile Hashimi Can Huffaz Pipe I.C.C.Textile Int. Ind.Ltd.(Consolidated) Int. Ind.Ltd.(Unconsolidated) Ishtiaq Textile Ist.Capital Sec.XB Janana D Mal Javedan Cement Khurshid Spinning Kohinoor Ind. Kohinoor Power Kohinoor Sp.XD Leiner Pak Gelatine MACPAC Films Mohd.Farooq Moonlite (PAK) Mustehkam Cement N. P. Spinning XD Netsol Technol.XD Netsol Technol.XD(Consolidated) Olympia Spinning Pace (Pak) Ltd. Pak ModarabaXD Paramount SpXDXB Pervez Ahmed Punjab Oil MillsXD Quetta TextileXD Ravi Textile Redco Textile Reliance CottonXD Resham TextileXD Ruby Textile S.S.Oil Salman NomanXB Samin Textile XR Sapphire FiberXD Sapphire TextileXD Saritow Spinning Saudi Pak Leasing Service Textile Sitara EnergyXD Southern Network Taha Spinning Taj Textile Telecard SPOT Transmission Engg. Tri-Star 1st. Mod. Tri-Star Mutual Tri-Star Polyester U.D.L.Mod.XD Yousuf Weaving ZahidJee Textile Azgard Nine Azgard Nine(Consolidated) Ittefaq Gen.Ins. Silver Star Ins. Singer Pak Ltd. Mukhtar Textile Saleem Denim

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Continued from page 5 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr Yearly Yearly

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17.782 54.170 -185.864 22.731 -2.552 39.568 66.955 -31.558 -3.576 -1.309 -59.990 -173.394 18.490 18.485 -41.810 28.018 -1.602 2.961 -28.864 178.782 -6.713 50.063 -10.845 5.824 -6.755 0.406 2.866 19.177 78.930 38.223 -2.249 -12.305 -4.494 21.963 -24.297 140.866 144.059 5.506 -4.943 65.675 -171.404 -17.526 -13.075 5.226 90.338 -6.595 -5.820 -117.282 -5.815 -53.244 10.458 194.760 215.675 -26.696 -108.886 0.650 53.983 -3.534 12.732 200.237 -12.221 -3.690 146.775 58.889 -1.019 16.442 2.349 4.036 528.614 590.658 20.226 -59.119 -1.295 25.571 -4.118 -2.774 -12.893 251.746 -3.174 -0.060 0.436 -2.346 23.118 28.779 64.027 -488.179 150.764 -0.269 30.504 22.867 -6.714 -1.165

6.14 7.12 -0.57 0.57 -0.77 0.16 5.39 -0.53 -0.89 -0.13 -2.80 -0.46 0.31 3.25 -0.47 8.16 -0.12 0.10 -0.16 4.66 -0.34 1.53 -0.56 1.25 -0.41 1.35 0.39 1.31 4.16 2.06 -0.19 -0.89 -2.73 0.40 -2.43 1.28 1.20 1.30 -0.02 15.25 -3.04 -1.33 -0.43 0.41 0.69 -0.88 -0.15 -6.21 -2.69 -1.28 0.71 2.64 -2.22 -0.39 0.05 3.42 -0.05 3.33 15.40 -0.49 -0.07 14.26 1.64 0.03 2.91 0.59 0.30 26.85 29.41 1.52 -1.31 -0.16 1.34 -0.08 -0.45 -0.39 0.84 -0.27 0.00 0.09 -0.11 0.88 0.72 1.88 -1.12 -0.19 -0.27 1.21 0.67 -0.46 -0.30

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where according to NCCPL data they did a ne- buying of $3.74 million on Monday while local funds did a net-selling of $3 million. Pak Strategic Fund was the top most traded stock of the day with 7.5 million shares followed by Amtex with 4.89 million shares and Fatima Fertilisers with 3.95 million shares. Out of total 401 active issues; 248 declined and 145 advanced while 8 issues remained unchanged.

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global economy at a time of sluggishness in the United States and most of Europe and a faltering in Japan's recovery. India's manufacturing sector expanded in October at a much faster pace than in September, supported by strong output and a sharp rise in new business, a purchasing managers' index (PMI) showed on Monday. The benchmark index has gained 16.6 per cent so far in 2010, with foreign funds inflows into Indian shares totalling $24.6 billion. Reliance Industries rose as much as 8.3 per cent to 1,187 rupees, its best level since August 2008, after the energy firm posted its highest quarterly profit in nearly three years, and increasing output at its main gas field is seen as key to earnings growth even as it diversifies into other sectors. The stock later erased all of its gains and closed 0.3 per cent lower. "With uncertainty continuing on further ramp-up from the KG-D6 gas fields, we believe investors will no longer consider RIL a defensive stock," HSBC said in a note on Saturday while

downgrading the stock to underweight from neutral. "We expect State Bank of Pakistan was Rs248 billion which were 95 per cent of the total allocation. Elaborating the fertiliser availability for Rabi Season, Nazar Gondal informed that total availability of RIL to gradually turn into a cyclical stock, which would be drivurea fertiliser would be 3.4 million tonnes that would be sufficient to meet the local requirement.Total en more by refining and petrochemical margins.-Reuters availability of DAP fertiliser for the season is 799,000 tonnes against the local requirement of 670,000 Continued from page 5 No #5 tons, availability position of DAP is quite comfortable, he added. Nazar Gondal said that local producthere are so many uncertainties until key economic releases are tion of DAP is estimated as 324 thousand tonnes with carry forward stock 419 thousand tonnes.The minout and the US mid-term elections are over," Angus Campbell, ister directed the provinces to negotiate with fertiliser companies to devise a price stipulation mechahead of sales at Capital Spreads, said. nism of DAP fertiliser in the country. Sufficient availability of wheat, gram, lentil, oil seeds and fodder "The fact that we retreated from the highs of the morning fol- seeds was reported for the forth coming Rabi season. Wheat seed availability was 729,000 tonnes which lowing the UK data gives further evidence that good news is bad is 67 per cent of the total wheat seed requirement (1,085,000 tonnes).Provinces were directed to lift news if it means less QE."Worries over how much cheap money wheat seed from Punjab province for planting in the flood affected areas. -Agencies the Fed might pump into the system to boost growth heightened Continued from page 1 No #9 after some upbeat economic data from the United States, although of its senior leader.Meanwhile, MQM has decided to suspend all its political activities for threeit was probably too little, too late to stop the Federal Reserve from day in mourning of Dr Imran Farooq funeral procedures. -Agencies more monetary easing. The pace of growth in the US manufacturing sector quickened Continued from page 1 No #10 unexpectedly in October, while US construction spending rose who along with a delegation called on him, PM Gilani said that European Union's commitment to unexpectedly in September as investment in public projects touched the highest level in more than a year.Earlier, a survey of grant exclusive enhanced market access to Pakistan through deduction of duties on 75 products, has purchasing managers showed British manufacturing growth generated hopes for a desire of long time engagement by the EU with Pakistan. Prime Minister thanked Jean Lambert for her and the delegation's strong advocacy of Pakistan's accelerated last month, all but ending any hopes that the Bank of England would extend its own QE programme before the end of case in the European Parliament. He expressed confidence that the delegation for South Asian coun2010, traders said. Weir Group shed 1.4 per cent after the engineer tries in the European Parliament would continue to accord its full support to Pakistan in the future. issued a trading update.Retailers Next and Marks & Spencer fell Jean Lambert while thanking the Prime Minister for sparing time to meet her and her colleagues Thijs Berman conveyed her commiserations on the devastation caused by the recent floods to the 2.0 and 1.7 per cent ahead of results.-Reuters infrastructure and set back suffered by Pakistan's economy.She assured the Prime Minister that EU Continued from page 5 No #6 would remains steadfast in its support to help Pakistan overcome its present economic challenges BOJ policy meetings," said Tsuyoshi Segawa, an equity strate- and that Baroness Ashton would be coming to Pakistan Development Forum's meetings with a gist at Mizuho Securities."The peak of the first part of Japan's Package of assistance towards that end. -Agencies earnings season is over and disappointing numbers have begun to Continued from page 1 No #11 appear after a solid start, though the majority haven't reported The star sector which showed highest profitability was textile, in which Nishat Mills and Nishat yet."The benchmark Nikkei ended the day down 0.5 per cent at 9,154.72, its lowest close since Sept. 9.The broader Topix fell 0.9 Chunia reported significant growth of 163 per cent and 433 per cent respectively -- mainly driven per cent to 803.30. A further slip below 800.69, hit on Sept. 1, by higher cotton prices. Companies' profitability stands at Rs1828 million in 1QFY11 against Rs603 would bring it to its lowest in 19 months. A sudden jump in the million in corresponding last year. Gas marketing sector remained the second-best in terms of per dollar against the yen in early trade prompted speculation of inter- centage-wise profitability where SSGC performed well.Cumulative earnings of the listed companies vention by Japanese authorities, but the greenback gave up the surged by 170 per cent to Rs1.57 billion against Rs583 million witnessed in 1QFY11 primarily due gains very quickly as traders cited talk of a possible technical to Ogra has increased UFG benchmark at 7 per cent and allowed income from late payment surcharge as other income.Besides that the other sectors that supported the corporate earnings growth glitch rather than intervention. The move led to a brief push by the Nikkei into positive territo- were chemical, E&P, IPPs and banks which posted profit of Rs1.69 billion (+159 per cent), Rs27.10 ry.Shares in Shanghai and Kong Kong were higher after China's billion (+43.4 per cent), Rs3.31 billion (+35.3 per cent), and Rs17.78 billion (+6.4 per cent) respecofficial purchasing managers index (PMI) blew past expectations tively. On the other hand, cement sector, fertiliser, telecom and auto sector showed drop in profitabilto rise to a six-month high of 54.7 in October from 53.8 in ity due to devastating post-flood impact on above mentioned sectors as it earnings dropped to Rs247 September.Hurt by worries about the strength of the yen and its million (-86.5 per cent), Rs953 million (-71.4 per cent), Rs4.07 billion (-19.3 per cent), Rs2.08 bilimpact on corporate earnings, the Nikkei shed 1.8 per cent in lion (-19 per cent), and Rs686 million (-15.3 per cent) respectively. October. It fell 2.4 per cent last week, its worst weekly fall in two Continued from page 1 No #12 months.Analysts expect the US central bank to announce a new The US military has made more than 30 airstrikes from pilotless planes in North Waziristan durround of bond purchases of about $100 billion a month when its ing the last two months. -Online meeting concludes on Wednesday. Quantitative easing is viewed as negative for the dollar as it increases the supply of dollars, Continued from page 1 No #13 diminishing its value.-Reuters six months in consultation with coalition partners and stakeholders. This, he said, while addressing a meeting of the Sindh Ministers belonging to the PPP at Bilawal House.Spokesperson to the Continued from page 5 No #7 "The data today reinforces that we have a sustainable expansion, President, Farhatullah Babar said the meeting was also attended by Sindh Chief Minister Syed Qaim albeit it's below average," said Henry Smith, chief investment Ali Shah, provincial ministers and senior federal and provincial government officials. The meeting took stock of the law and order situation, the recent spate of alleged targeted killings, officer at Haverford Trust Co. in Philadelphia. "It's good to see the market reacting to the positive data, although our expectation is the flood relief measures and issues relating to coalition in the province.Provincial ministers Zulfiqar that ... this might be short-lived because it has the feel that we're Mirza, Manzoor Hussain Wassan, Siraj Durrani, Syed Murad Ali Shah and Ali Nawaz Shah also buying into the two big pieces of news this week... We wouldn't made brief presentations about their respective ministries.The president also advised the provincial be surprised to see a little bit of selloff on Wednesday." US vot- government to speed up legislation for the reinstatement of provincial employees who were sacked ers go to the polls on Tuesday to decide congressional and other after the removal of PPP government in 1996 for political reasons, as has been done by the federal races, while the Federal Reserve begins a two-day policy meeting. government in respect of federal employees.President Zardari also advised the provincial governThe market has risen in recent months mainly on expectations ment to set up a separate ministry for overseeing the flood rehabilitation and reconstruction effort. the Fed will add monetary stimulus this week and also that Republican Party will make gains in Congress. The anticipated change is due to concern about high unemployment and consumers' views on how Democratic President Barack Obama is handling the economy.-Reuters

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Sherpao, and other parliamentarians. According to statement issued after the meeting, the committee members expressed the resolve that the supremacy of parliament would be maintained at every cost while committee would also ensure protection of judiciary in line with the constitution. The meeting also voiced satisfaction over the steps taken by the Supreme Court (SC) for referring back the constitutional provision related to appointment of judges to parliament for reviewing it again.Sources told Online that the members of the committee informed the Chairman about difference of opinion regarding the SC interim order and requested to constitute a sub-committee in this regard.Rabbani has sought recommendations from all political parties being represented in the constitutional committee in connection with implementation of SC orders. -Agencies

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respective provinces. For the Rabi season 2010-11, dry season was forecast during the months of November and December while normal precipitation was expected during January to March 2011 which is encouraging for the Rabi season crops. The minister directed the Meteorological Department to release a package of information containing next season forecast in detail for farmers of different areas of the country.About the status of agricultural inputs, the minister said during 2009-10, total disbursement by

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order to discuss and address the issues arising on completion of 3-years' term of appointment of Adnan Afridi as Managing Director of the Exchange, who intimated his unavailability for the next term and relinquished his charge accordingly. In this connection, the Board has appointed Haroon Askari as Acting Managing Director of KSE with immediate effect.Askari has been serving the Exchange as General Manager - Operations since December 01, 2005 and will continue in the capacity of Acting Managing Director till the formal appointment of new Managing Director.

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chairman Federation of Pakistan Chamber of Commerce and Industry (FPCCI) standing committee on LPG and All Pakistan LPG Distributors Association Hadi Khan in a statement here on Monday. He said, though imported price of the LPG has registered the unprecedented rise in the local market, the importers did not raise its retail prices. Hadi urged the government to ensure that local producers should not raise the price of locally produced LPG in proportion with Saudi Aramco. He also urged the government to remove 17 per cent sales tax on the import of LPG to ensure that its prices are not enhanced and in the country. Hadi pointed out the consumption of the LPG in the winter has been enhanced from 1900 tonnes to 2000 tonnes per day whereas local producers were still producing 1400 to 1500 tonnes per day, creating a gap of 500 tonne between the demand and supply. The withdrawal of sales tax on imported LPG is must to reduce the difference between LPG's demand and supply and to facilitate its import, he observed.Hadi said that a total of 48195 tonne of LPG has been imported between the first ten months of current year starting from January to October 31, 2010.This is the reason why the LPG prices are still stable in the country, he added.

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approval to increase the tariff by 2 per cent. An announcement is likely to be made at any time in this respect. Raja Ashraf told the media that nominal raise in power tariff was inevitable and government would try to cover it in fuel adjustment surcharge.He will get briefing from his ministry on hike in power tariff and the tariff will be increased in the light of Nepra recommendations. The prime minister directed during his address that minimum burden be shifted to masses as they were already much worried over hike in petroleum products. -Agencies


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Iraq church raid leaves 52 dead

BAGHDAD: Iraqi Christian lawmaker, Younadem Kana (center left) Iraq's top Catholic prelate, Chaldean Cardinal Emmanuel III Delly, center, and Bishop Shlimone Wardoni (center right) are seen outside Our Lady of Deliverance church the morning after its congregation was taken hostage. -Reuters

WB, ADB, IMF delegations meet Ashraf

Power reforms enter last phase ISLAMABAD: Minister for water and power, Raja Pervaiz Ashraf has said that the process of power sector reforms is in its last stages and will be completed within next eight months. He expressed these views while presiding over a meeting with the joint delegation of IMF, World Bank and ADB headed by Adnan Mazari held here Monday. The Minister said that the government is taking all the steps to make the public power sector viable and more efficient. The government has inherited the energy crisis and steps are being taken to meet this challenge. He said that the government is also resolving the circular debt issues, adding new empowered board of directors of Discos and Gencos are being set up to give them autonomy. A comprehensive plan is being adopted to improve the efficiency of the public

sector entities, he added. The delegation also discussed reduction in line losses, improvement in recovery Nepra amendment act, subsidy on tariff and related issues. It assured that all assistance and cooperation will be provided for improvement of the sector and to end the energy crisis. Earlier, the delegation was briefed on the progress so far on power sector reforms. The delegation was informed that about 500 employees of Pepco have been repatriated to their parent departments, business plans of Gencos and Discos are being prepared, smart meters are being introduced, consumer classification survey is being planned, and the draft of the Nepra act is in the parliament for consideration and approval. Adviser of the Ministry, Chairman Wapda and other senior officials of the Ministry were also present in the meeting. -APP

Apology acceptable if they come to us: Rana

Shujaat-Sharif talks seen near ISLAMABAD: Rana Sanaullah, provincial minister for law said the meeting between Chaudry Shujaat and Nawaz Sharif would be possible if Chaudhry brothers come to Nawaz Sharif then their apology could be accepted, as Chaudhry Shujaat never spoke against PML-N leader. Talking to this news agency here Monday, Rana Sanaullah said that PML-N is real essence of Muslim League. He said that Transparency International report proved that present government is making records in corruption. He said that Rs300 billion have been corrupted during one year and now PPP is taking support of PML-Q due to fear of trial. He said that Babar Awan is virus of corruption and he is trying to spread

the corruption in Punjab. He said that "Sasti Roti scheme" has been closed down temporarily due to floods. He said that PPP's ministers' allegations of expending Rs70 billion on Sasti Roti scheme are baseless. Answering to a question he replied that, Imran Khan is talking about selling of Nawaz Sharif's property and Raiwind State, but in fact he himself purchased plots from Zia-ul Haq and Nawaz Sharif. He said that Shaukat Khanum hospital has been constructed on Nawaz Sharif's land. He said that Imran Khan is not sincere with his own party, so that's why all the senior members who joined his party left it after passing some time. Online

Interior Minister arrives in UK, phones MQM chief

Malik briefs Altaf over Khi situation LONDON: Federal Interior Minister Rehman Malik upon arrival in UK had a telephonic communication with MQM leader Altaf Hussain and discusses with him the overall conditon of the country especially the current affairs of Karachi. Interior Minister Rehman Malik, while talking to MQM leader Altaf Hussain on the phone, discussed various issues of the country and especially the situation in Karachi was discussed in detail. As per media reports, Malik conveyed goodwill message to Altaf Hussain from the president Asif Ali Zardari and the Prime Minister Yousuf Raza Gillani. While talking to Rehman Malik on the phone, MQM leader Altaf Hussain

appreciated the efforts done by his government to maintain the security situation of Karachi and paying a visit to the affected areas. MQM leader also mentioned that affectees are still waiting for a concrete step taken towards providing security to the residents of Sher Shah Market and the threats which are also being given to the shop keepers to keep their businesses closed. Rehman Malik informed Altaf Hussain that he has already directed the law enforcement agencies to look into the matter and resolve the issue. Rehman Malik intends to have a detailed meeting with the MQM leader and discuss all the issues in detail. -Online

SECP extends CRS, CEES schemes for 1mth more ISLAMABAD: The Securities and Exchange Commission of Pakistan has further extended the validity period of the Companies Regularization Scheme (CRS) and the Companies Easy Exit Scheme (CEES), for another month up to Nov 30, 2010. These schemes were initially operative for three months, from July 1, 2010 to Sept 30, 2010. On public demand, these schemes were initially extended for one month up to Oct 31, 2010. Both schemes have received an overwhelming response from the corporate sector. Upon receipt of further demand for extension in validity period of the schemes from the corporate consultants, associations and relevant quarters, the SECP has further extended them for a month. The companies are advised to take advantage of the schemes by either regularising through filing of their overdue returns under the CRS or get their companies struck off the register under the CEES. The companies are also advised to file their annual returns within 45 days in case of listed companies and 30 days in case of other companies, of holding of the annual general meetings (AGMs). The annual audited accounts are to be filed within 30 days of the AGMs and Form 29 within 14 days of any appointments or changes. -APP

BAGHDAD: Iraq's dwindling Christian community was grieving and afraid on Monday after militants seized a Baghdad church during evening Mass, held the congregation hostage and triggered a raid by Iraqi security forces. The attack left at least 52 people killed and 67 wounded - nearly everyone inside. The attack, claimed by an al Qaeda-linked organisation, is the latest assault against Iraq's Christians, whose numbers have plummeted since the 2003 US-led invasion as the community has fled to other countries. Outside Our Lady of Deliverance church, Raed Hadi leaned against the car carrying his cousin's coffin, waiting for the police to let him bury him on church grounds. "It was a massacre in there and now they are cleaning it up," he said Monday morning. "We Christians don't have enough protection, what shall I do now? Leave and ask for asylum?" "Now they make a show," said Jamal Jaju, who watched as Iraqi

forces set up a chain link fence around the church and pushed back observers. "What can I say? I lost at least 20 friends in there." Pope Benedict XVI denounced the assault as "ferocious" and called for renewed international efforts to broker peace in the region. Catholics made up 2.89 per cent of Iraq's population in 1980; by 2008 they were merely 0.89 per cent. Sunday's bloodbath began at dusk, when militants wearing suicide vests and armed with grenades attacked the Iraqi stock exchange. Only two guards were injured in the assault, which may have been an attempt by the militants to divert attention from their real target - the nearby church in an upscale Baghdad neighborhood. That attack soon followed. The gunmen went inside the church and took about 120 Christians hostage. Maj Gen Hussein Ali Kamal, the deputy interior minister, said 52 people were killed and 67 wound-

ed. The dead included at least 10 policemen, two priests and five to eight attackers, according to various accounts. It was unclear whether most hostages died at the hands of the attackers or during the rescue. According to two security officials, most of the deaths were in the basement where a gunman killed about 30 hostages when Iraqi forces began to storm the building. One official said the gunman set off an explosives vest he was wearing, but the other said the gunman threw two grenades at his hostages. Both spoke on condition of anonymity because they were not authorized to talk to journalists. The group, which is linked to al Qaeda in Iraq, said it would "exterminate Iraqi Christians" if Muslim women in Egypt were not freed. It specifically mentioned two women that extremists maintain have converted to Islam and are being held against their will in Egypt.-Reuters

Judges' appointment procedure

NA body sets line of action ISLAMABAD: Parliamentary Committee on Constitutional Reforms has decided to review the judges' appointment procedure under 18th amendment in the light of Supreme Court's interim order. The committee affirmed its commitment to preserve and protect the independence of judiciary and rule

of law under the constitution. A meeting of Parliamentary Committee on Constitutional Reforms was held here at Parliament House under the chairmanship of Senator Mian Raza Rabbani, which reviewed and examined in detail the order passed by the Supreme Court of Pakistan on October 21.

The committee also finalised the line of action for future. The meeting was attended by Senator Ishaq Dar, Babar Awan, Afrasyab Khattak, Professor Khursheed, Senator Abdul Malik, Haji Adeel, Lashkar Raisani, Iqbal Muhammad Ali, Aftab Ahmad Khan See # 2 Page 11

F-9 Park Case

Lashari told to argue self-defence ISLAMABAD: Supreme Court of Pakistan Monday directed Kamran Lashari, former chairman Capital Development Authority (CDA), to appear today (Tuesday) and argue his applications filed against the apex court's directive for initiation of legal proceedings. A three-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil-ur Rehman Ramday issued directive after hearing Abdul Hafeez Pirzada, the senior counsel, who pleaded to argue his case. The bench told him that since Kamran Lashari had pleaded his case during hearing of suo moto case on the issue of F-9 (Fatima Jinnah) Park, therefore, he should come forward and argue. The bench said that it was not hearing a review plea. The Chief Justice told him that the plea would have been competent if the bench was hearing a review plea. The bench was providing Lashari with an opportunity to argue his case, he added. -Agencies

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The Financial Daily-Epaper-02-11-2010