Page 1

International Karachi, Tuesday, January 11, 2011, Safar-ul-Muzaffar 6, Price Rs12 Pages 12

PM agrees to raise rates for govt advertisements

Pakistan seeks Samjhota probe details Pak blames foreign hand for Fata chaos

See on Page 12

Taseer murder: Qadri says 'acted alone'

See on Page 12

See on Page 2 Economic Indicators

Musharraf assures to come back before polls

$17.20bn Forex Reserves (1-Jan-11) 14.44% Inflation CPI% (Jul 10-Nov 10) $8.88bn Exports (Jul 10-Nov 10) $15.37bn Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) $(6.49)bn Current A/C (Jul 10- Nov 10) $(504)mn $4.43bn Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Nov 10) $746mn Rs 495bn Revenue (Jul 10-Nov 10) $58.41bn Foreign Debt (Sep 10) Rs 5348.6bn Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) $287.9mn -2.81% LSM Growth (Oct 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 171.50mn Population

Portfolio Investment SCRA(U.S $ in million)

158.27 Yearly(Jul, 2010--7-Jan-2011) Monthly(Dec, 2010--7-Jan-2011) -37.13 -0.40 Daily (7-Dec-2011) 2900 Total Portfolio Inv (31 Dec-2010)

NCCPL (U.S $ in million) FIPI (10-Jan-2011)

2.81

Local Companies (10-Jan-2011)

2.88 -11.67

Banks / DFI (10-Jan-2011) Mutual Funds (10-Jan-2011)

0.45

NBFC (10-Jan-2011)

-1.11

Local Investors (10-Jan-2011)

6.94

Other Organization (10-Jan-2011)

-0.30

Global Indices Index

Close

Change

KSE 100

12,306.70

Nikkei 225

10,541.04

11.28

Hang Seng

23,527.26

159.37

Sensex 30

19,224.12

467.69

82.34

ADX

2,754.73

9.42

SSE COMP.

2,791.81

46.99

FTSE 100

5,962.61

21.72

11,611.75

63.01

*Dow Jones

*Last Updated 20:00 PST

GDR update Symbols

$.Price PKR/Shares 111.33

MCB (1 GDR= 2 Shares) 2.60 OGDC (1 GDR= 10 Shares) 23.01

197.06 42.82

UBL (1 GDR= 4 Shares) 2.00 LUCK (1 GDR= 4 Shares) 1.70

36.40

HUBC (1 GDR= 25 Shares) 11.34

38.85

Money Market Update T-Bills (3 Mths) 29-Dec-2010

13.20%

T-Bills (6 Mths) 29-Dec-2010

13.41%

T-Bills (12 Mths) 29-Dec-2010

13.73%

Discount Rate

29-Nov-2010

14.00%

Kibor (1 Mth)

10-Jan-2011

13.19%

Kibor (3 Mths)

10-Jan-2011

13.46%

Kibor (6 Mths)

10-Jan-2011

13.64%

Kibor ( 9 Mths)

10-Jan-2011

Kibor (1Yr)

10-Jan-2011

14.14%

14.01%

P.I.B ( 3 Yrs)

10-Jan-2011

14.23 %

P.I.B (5 Yrs)

10-Jan-2011

14.25 %

P.I.B (10 Yrs)

10-Jan-2011

14.26 %

P.I.B (15 Yrs)

10-Jan-2011

14.61 %

P.I.B (20 Yrs)

10-Jan-2011

14.79 %

P.I.B (30 Yrs)

10-Jan-2011

14.96 %

Commodities *Crude Oil (brent)$/bbl 95.33 *Crude Oil (WTI)$/bbl 89.13 *Cotton $/lb 141.72 *Gold $/ozs 1,367.50 *Silver $/ozs 28.83 Malaysian Palm $ 1,215 GOLD (NCEL) PKR 37,916 KHI Cotton 40Kg PKR 10,503 *Last Updated 20:00 PST

Open Mkt Currency Rates Symbols

Buy (Rs)

Sell (Rs)

Australian $

85.24

85.43

Canadian $

86.16

86.36

Danish Krone 15.1 Euro Hong Kong $

15.2

110.49

110.73

10.4

10.5

Japanese Yen 1.015

1.041

Saudi Riyal

22.77

22.93

Singapore $

65.5

66.5

Swedish Korona 12.1 Swiss Franc

12.8

86.6

86.8

U.A.E Dirham 23.07

23.48

UK Pound

133.06

133.35

US $

85.64

85.83

Inter-Bank Currency Rates Symbols

Buying TT Clean Australian $ 85.24 Canadian $ 86.14 Danish Krone 14.83 Euro 110.46 Hong Kong $ 11.01 Japanese Yen 1.030 Saudi Riyal 22.83 Singapore $ 66.06 Swedish Korona 12.38 Swiss Franc 88.71 U.A.E Dirham 23.3 UK Pound 133.03 US $ 85.60

Selling TT & OD 85.44 86.34 14.86 110.72 11.04 1.033 22.88 66.21 12.41 88.92 23.36 133.34 85.80

Weather Forecast CITIES MAX-TEMP ISLAMABAD 21°C KARACHI 28°C LAHORE 15°C FAISALABAD 16°C QUETTA 19°C RAWALPINDI 19°C

MIN 0°C 8°C 2°C 1°C -6°C 2°C

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ISLAMABAD: A large number of vehicles waiting in queue at CNG station in Federal Capital City here on Monday. APP

Dec exports up 34pc to $2.12bn YoY

Exports reach all-time high Ghulam Raza Rajani KARACHI: Country's exports have witnessed a healthy growth of 34 per cent YoY in the month of December to all-time high at $2.12 billion against $1.58 billion witnessed in same period last year, Federal Bureau of Statistics data showed. Similarly, imports in December 2010 witnessed an increase of 28.7 per cent YoY with trade of $3.74 billion against the imports of $2.91 billion in the month of December 2009. However, all-time high exports mitigated higher

Pope urges Pak to repeal blasphemy law VATICAN CITY: Pope Benedict called on Monday for Pakistan to repeal its anti-blasphemy law, days after a senior Pakistani politician who opposed the legislation was assassinated by his own bodyguard. The pope said the law served as a pretext for violence against religious minorities such as Christians in predominantly Muslim countries. Speaking in his annual address to diplomats, dedicated this year almost exclusively to religious freedom, he also said Middle East governments must protect minority Christians, following bomb attacks against churches in Egypt and Iraq. "Among the norms See # 9 Page 11

Oil sales up 11pc in Dec Aamir Abidi KARACHI: Petroleum products consumption recorded a double-digit growth as it increased 11 per cent on Year-on-Year basis, unfolded by the latest OCAC data for the month of December. The total volume of the POL products (ex nonenergy) was recorded 1.67 million tonnes in December 2010 against 1.5 million tonnes in December 2009. See # 12 Page 11

import bill and restricted the trade deficit to be widened by 22.3 per cent to $1.62 billion in December, compared with the trade deficit of $1.33 billion recorded in December 2009 on year-on-year basis. Previously, improvement in exports was mainly contributed by textile exports which fetched higher per unit price on textile products and higher food pries in global market. Similarly, trade data during December 2010 compared with November 2010 showed that there was about 20.5 per cent surge in

trade deficit to $1.62 billion comparing $1.35 billion witnessed in November 2010. Similarly, imports in December 2010 witnessed an increase of 19.9 per cent MoM with trade of $3.74 billion against the imports of $3.12 billion in the month of November 2010. Exports also rose 19.4 per cent to stand at $2.12 billion in December this year, against $1.77 billion in the last month of comparison. The trade deficit for the first-half of the 2010-11 (July-December) fiscal was See # 6 Page 11

$25b textile export target to be achieved: Minister

Textilers to get gas for 5dys/wk LAHORE: Federal Minister for Textile Industries Rana Farooq Saeed Khan assured Monday All Pakistan Textile Mills Association (APTMA) of five-day-aweek gas supply to textile industries. He said that he would raise the issue and all possible steps would be taken for the development of the industry. He expressed these views during his meeting with Aptma members here at its office on Monday. The minister said the government was taking all

SSGC says no gas pact with KESC Staff Reporter KARACHI: The Managing Director of Sui Southern Gas (SSG), Dr Faizullah Abbasi has rejected the notion that the See # 7 Page 11 necessary steps to overcome gas and electricity crises and he hoped that the problems would be See # 8 Page 11

SLanka delegation meets Zardari

Soft loans for SL industries vowed Isb offers help to set up cement, sugar plants KARACHI: President Asif Ali Zardari Monday assured Sri Lanka of providing soft-term credit facility for the export of Pakistani cement and sugar plants to it. He was talking to a Sri Lankan parliamentary delegation headed by Speaker of Parliament Chamal Jayantha Rajapakse, who called on him at Governor House.

Senate Chairman Farooq H Naek, Speaker of the National Assembly Dr Fehmida Mirza and Chairman of Board of Investment Saleem Mandviwala were also present on the occasion. The Sri Lankan delegation included beside others Minister for Disaster Management Sri Lanka Mohammad Fowzie Abdul See # 10 Page 11

10-point agenda

No deadline, says Sharif LAHORE: PML-N Quaid Mian Nawaz Sharif forming a 4-member committee to overlook the implementation of 10-point agenda by the government in 45-day said that he had given no ultimatum to the government, adding his party does not believe in politics of blackmailing and horse trading. See # 11 Page 11

DUBAI: Chief of All Pakistan Muslim League (APML) Pervez Musharraf has said that he would arrive in Lahore before the next election. He expressed these views while meeting a delegation of Tehreek Insaf (Insaf group) under the supervision of Farooq Malik in Dubai. Talking to the delegation of Tehreek Insaf (Insaf Group) delegation, Musharraf said he would like to tell Nawaz Sharif that Lahore is his home and he would land there before elections. He said that Mian Brothers have been away from politics for ten-year, therefore, they are not playing the real opposition role. He said that thousands people are joining his party APML and waiting for his arrival in country. Musharraf ensured to the people that he will win next election and serve the people in better way. He added that inflation is being raised day by day in Pakistan. -Online

December auto sales down 24pc MoM Ahmed Siddique KARACHI: Auto sales showed a decline as cumulative car, LCV & pickup sales dropped 24 per cent to 8943 units during December 2010 against 11765 units sold in November 2010, according to the latest data released by PAMA. The fall was largely attributed to delay in consumer purchase decision to avail the New Year's registration and anticipated decline in prices from start of New Year, as per the TFD analyst. On the other hand, sales of car, LCV and pickup hiked 10.7 per cent YoY to 68099 units in 1HFY11 against 61516 units in same period last year. As per details, amongst the individual categories, car sales showed growth of 11.4 per cent YoY to 59.6k units, whereas LCV & pickup segment sales registered an increase of 6.3 per cent YoY to 8.45k units in 1HFY11. Pak Suzuki, Indus Motor and Honda Cars were the three companies that See # 13 Page 11

Naseer Babar passes away NAUSHEHRA: The central leader of Pakistan Peoples Party and former Interior Minister Major General (Retd) Naseerullah Khan Babar died after prolong illness, here in Peshawar on Monday. He was 83 years old. The former federal minister was under treatment at Combined Military Hospital (CMH), Peshawar, for a stroke. Doctors said that he died at 3:30am Monday morning. The funeral prayer of senior leader of Pakistan See # 14 Page 11

Ban to be imposed on LCs open after 5 Jan 2011

Ban on onion export to India continuous Special Correspondent ISLAMABAD: Pakistan has decided to sustain the bar over the export of the onions to India in order to keep the prices within the country approachable. A meeting of the Inter-Province was held with Additional Secretary Shahid Rahim in the chair which was also attended by the representatives of Foreign Ministry, Industries and Production, Ministry of Food and Agriculture ands other concerned

departments. Pakistan had suspended the export of onion to India on December 24th due to increasing prices of product in the country. The meeting decided to maintain suspension citing that the price of onion would be hiked up to 100 per kg in case of restarting the export. It is pertinent to mention here that Indian exporters have cancelled the contracts of cotton exports due to increasing of prices in the international markets.


2

Tuesday, January 11, 2011

Rs 50mn for APNS House in Karachi

PM agrees to raise rates of govt ads Special Correspondent ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Monday agreed in principle to the demand for upward revision in the tariff (rates) of government advertisements in newspapers, besides, announcing Rs. 50 million grant for the construction of the office building of All Pakistan Newspapers Society (APNS) in Karachi. He also announced the provision of a plot for APNS office in Islamabad, as well as resolving the issues pertaining to the outstanding dues and liabilities of government advertisement, with particular reference to the payments of departments and ministries devolved to provinces after the 18th Amendment. The announcements, hailed by the APNS President and all members of the Executive Committee as "unprecedented", were made by the Prime Minister during his meeting with a delegation of the Executive Committee of APNS led by

its President Hameed Haroon here at the PM House Monday evening. Minister for Information and Broadcasting Qamar Zaman Kaira, Secretary Information Taimur Azmat Usman and senior officials were also present in the meeting. The Prime Minister, responding to the proposals presented by APNS President Hameed Haroon for further strengthening the newspaper industry in the country, agreed in principle to the revision in rates of public sector advertisements from July 1, 2011. The revised rates would be worked out by the Information Ministry in consultation with APNS, he added. Gilani said the Capital Development Authority (CDA) will allot a plot for APNS at Zero Point, Islamabad. He also announced Rs.50 million grant, to be disbursed in two installments of Rs 25 million each, for the construction of APNS office building in Karachi. The Prime Minister said

he will visit Karachi for the laying the foundation stone of APNS in Karachi. With regard to the dues and liabilities of the government advertisements pertaining to the ministries and divisions devolved to provinces after the 18th Constitutional Amendment, the Prime Minister announced that the federal government will pay and clear such dues. He also agreed to the proposal that outstanding payments of government advertisement worth Rs. 450 million would be cleared through the support of APNS, to ensure transparency. APNS President Hameed Haroon in his remarks on the occasion spoke about the problems of media, particularly the problems faced by print media and extended various proposals. He was appreciative of the Prime Minister's policy on the freedom of press and media and said no coercive measures were taken against media during the last three years.

Sri Lankan delegation lays floral wreath at Quaid’s mausoleum KARACHI: The Speaker of Parliament of Sri Lanka Camal Rajapaksa, alongwith the eleven member delegation laid floral wreath at the Mazar-eQuaid here on Monday and paid respect and rich tributes to the Father of the Nation. Speaking on behalf of KARACHI: Speaker of Sri Lankan Parliament Chamal Jayantha Rajapakse meeting with President Asif Ali Speaker, Mohammad Zardari at Sindh Governor House.-Online Fouzie Abdul Hameed, MP said that we are visiting PM's announcements Pakistan on the special invitation of the Chairman of Senate of Pakistan and were very happy to be present here. He said relationship and cooperation with Pakistan would be strengthen through trade, cultural and KARACHI: LG KARACHI: A high-level Malik, MQM provincial solve the prevalent issue Electronics, (LG), a global social activities.-Reuters follow up meeting was Ministers, Babar Ghauri, on priority basis. Mutual leader and technology held Monday in Governor Kanwar Naveed, Waseem consensus, development innovator in mobile comHouse here after Aftab, Chief Secretary, work for social welfare munications recently announcements of Prime concerned secretaries, and their continuity came organized an entertaining under discussion. Minister Yousuf Raza DCOs and others. and interactive activity for Governor Sindh Dr. its trade partners and offiProvincial Ministers Gilani. The high level meeting told about their problems Ishrat ul Abad expressed cial GSM dealers at its LG was attended by Governor and the existing develop- hope that the decisions Mobile Care and Delight Sindh Dr. Ishrat ul Abad, ment project of social will be helpful to improve service center in Karachi. Chief Minister Syed welfare in the meeting. the credibility of governThe core objective of this KARACHI: Provincial Qaim Ali Shah, Federal The CM directed to the ment and people problems activity was to improve dealer's confidence on LG Home Minister Dr Zulfiqar Interior Minister Rehman concerned secretary to will be solved.-Online GSM products and most Mirza has said that mobile importantly listen to the jammers would be installed voice of dealers and in prisons in Sindh to halt resolve it on spot. Besides mobile phone communicathis the activity was aimed tions. to boost up secondary sales Talking to the journalists through better relationship at the inauguration ceremowith the dealers. ny of new barracks in cenThe activities focused tral jail Karachi, Provincial ISLAMABAD: Federal the democratic changes in the democracy is bringing good more on the infotainment Home Minister stated that Minister for Law and Justice country, things are much bet- changes. part of the program. The for the better future the Babar Awan has said that ter than 2008. Today parliaBabar Awan presented prisoners are being facili- democracy is returning to the ment is much more powerful Rs500 each to all girls partic- activities included Latest 3D movie experience, singing tated. country and things have and the government is in true ipant of the competition, and Zulfiqar Mirza said oper- changed since 2008, people democratic spirit which was Rs10000 for the student competition, comments and survey forms were filled up ations are undertaken in the will see further improve- elected by the people. union fund. prisons, of and on, to ments after the 2013 elecHe invited the principal of by each participant and a He said the security condiobstruct transfer of tabooed tions. tion of Swat is much better Margalla College for Women mobile repair center tour for materials from outside prisAddressing an inter-colle- than in 2008 and it was due to to his office and said all the live experience. -PR ons and for the improve- giate competition of 'husne the mutual cooperation of the projects of the college will be ment in the intelligence qirat and naat Khawani' 2011 government and the people. addressed on priority basis to system, mobile jammers as chief guest Babar Awan After 8-10 years of dictator- facilitate the students..would be installed. said people are witnessing ship slow and steady the Online Moreover, Home FATA development Minister said that prisoners prisons used to craft a minor criminal into a major convict. So new barracks ISLAMABAD: The are being built to facilitate Chairman of Abu Dhabi prisoners.-Online Group, Sheikh Nahayan Mabarak Al Nahayan while expressing his full confidence in Pakistan's economy denied ISLAMABAD: The division to release the mega projects. the reports in certain section amount earmarked over amount funds to complete The senate body also of media that Bank Alfalah Rs15 billion in 2010-11 for projects in time. appreciated the efforts of Limited is either on sale or is the FATA development The meeting was present government to to merge or acquire a finanunder Public Sector informed six year ago 300 launching the mega proj- cial institution. Staff Reporter Development Programme development schemes ects for the people of In a press release issued KARACHI: JCR-VIS (PSDP) has not been were announced for the FATA. on Monday, he said that the Body appreciated the Abu Dhabi Group has no FATA but not a single Credit Rating Company released yet. The Senate body on scheme is completed. efforts of Mohmmand intention at all, to either sell Ltd. (JCR-VIS) has and Frontier It was also informed to Agency administration to or merge Bank Alfalah with assigned a preliminary States fund stability rating of Regions (SAFRON) met the body that 4000 schools control the cultivation of another institution and stoA+(f) (Single A plus (f)) to with Hafiz Rashid Ahmed functioning in the FATA poppy in the areas and ries/reports about the bank IGI Income Fund (IGIIF). in the chair here on while the present govern- launched the various devel- are baseless and without any substance or foundaThis credit rating is indica- Monday urged the finance ment launched the seven opment schemes.-APP tion. tive of stable returns with a To the contrary, while some sound credit risk profile. Thermal scanners at KAP members of Abu Dhabi IGIIF was introduced by Group have sold their stake in IGI Funds Limited in April United Bank Limited, the 2007 and has since demonGroup's Chairman, Shaikh strated consistent growth Mabarak Al Nahayan has and a stable performance. KARACHI: The Sindh suspected patients on airThe improved vaccine retained his personal It strives to maintain a liq- Health Department has port premises. developed only last year stake/holding in United Bank uid portfolio that offers asked concerned authoriHe iterated that there and duly approved by Limited, where he continues competitive returns while ties to reactivate thermal was no need for any panic WHO also holds an anti to be the Chairman of the minimizing risk. scanners at the Karachi and that government swine flu component and The credit report issued by International Airport for efforts were meant to con- will supplement govern- Board of Directors. The statement said that JCR VIS highlights the con- identification of people trol spread of H1N1 virus ment efforts to control Bank Alfalah Limited in a servative investment style of arriving with Swine Flu that cuases swine flu. spread of the viral infec- short span of 13 years, had IGI Funds Limited. The Virus. "WHO has also provided tions, peculiar to winters. grown into a formidable Fund only invests in variable Sindh Secretary for us more than 50,000 vials The health Secretary rate TFCs in order to mini- Health, Syed Hashim Raza of improved version of said all major government institution, with 386 branches, 378 in Pakistan, 5 in mize interest rate risk. As per Zaidi told APP on Monday anti influenza vaccine to hospitals have already Bangladesh, 2 in the investment policy a minthat coordination with con- counter emerging strains been provided with ade- Afghanistan, Bahrain imum credit rating criterion cerned authorities has also of the infection," said quate stocks of anti viral (wholesale unit) and a repreof 'AA-' (Double A Minus) is been developed for proper Zaidi in reply to a ques- drugs including Tammi flu sentative office in Abu applicable for all counterparDhabi..-NNI medical examination of tion. tablets.-APP ties. Furthermore, eligible collateral for reverse repo transactions is restricted to government securities and highly rated sub-debt instruments issued by commercial banks. This credit rating is an affirmation of the confidence that investors have placed in IGI I S L A M A B A D : A meeting in this regard maintenance of 145 loco- locomotives would be Income Fund and IGI Funds Following a bailout pack- would be held by mid- motives, Rs2 billion each used for freight carrying Limited. Since Nov 2008, IGI age of Rs11 billion January between Minister on rehabilitation of tracks and the rest for passenger Funds has more than doubled announced by the federal for Railways and and coaches while Rs one coaches. total AUM and currently government, the crisis-hit Minister for Finance in billion would be reserved According to estimates, manages over PKR 5.0bn Pakistan Railways is now which the former would for future use," Minister a locomotive of 3000 Railways Haji horse power generates up making it one of the top ten finalising its priorities brief the latter about proj- for AMCs in Pakistan based on including maintenance of ects to be executed after Ghulam Ahmed Bilour to Rs60 million per annum against Rs50.5 said. assets under management. It 145 locomotives and release of funds. After their mainte- million by the one with "We have planned to was also amongst the fastest rehabilitation of rail spend Rs6.1 billion on nance, 75 percent of 2000 horse power.-APP tracks and coaches. growing AMCs in FY10.

Follow up meeting at Governor House

Fun- packed activity at LG mobile care center

Mobile Jammers to be installed in prisons

Democracy returning to country: Awan

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani in a meeting with the outgoing Secretary Narcotics Control, Tariq Masood Khosa.-Online

Best Islamic Bank award for Meezan Staff Reporter

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

KARACHI: Meezan Bank, Pakistan's first and largest Islamic bank, has been awarded 'Best Islamic Bank in Pakistan' for 2010 by Islamic Finance News of REDmoney Group, Malaysia. Meezan Bank has won this award consecutively for the last 6 years. The award brings to light a highly successful and record-breaking year for Meezan Bank. With a branch network of 222 branches in 63 cities across

UBL Funds declares payout TFD Report

TUESDAY Time 8:00 9:00 9:15 10:00 10:15 11:00 11:05 12:00 12:15 13:00 13:05 14:00 15:02 15:30 16:15 17:05 (Rpt) 18:05 19:00 19:05 19:30 20:00 20:05 21:00 22:00 22:05 23:00 23:05 0:00

Programmes Chai Time (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Power Lunch News Islamabad Say (Rpt) News Akhri Sauda Dilkash Pakistan (Rpt) Karobari Dunya Ghar Ka Kharch Chai Time News Aap Ka Paisa Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Kamyab (Rpt) News

Pakistan, Meezan Bank continues to be the largest Islamic bank in Pakistan. The bank demonstrated robust business growth in 2010, closing the year with a deposit figure of Rs. 131 billion and Import/Export business of Rs. 143 billion. The Bank's strategy to continue expanding its branch network is driven by its vision to "Establish Islamic Banking as Banking of First Choice" by making Islamic banking facilities available to each and every citizen of Pakistan.

KARACHI: UBL Fund Managers Limited, one of the leading asset management company in Pakistan, announced second interim payout from its money market scheme, UBL Liquidity Plus Fund (ULPF) for the period ended December 29, 2010.

A payout of Rs. 2.75 per unit of par value of Rs. 100 from ULPF has been announced. Unit Holders holding 100 units as at December 29, 2010 will get 2.7455 units on the ex-dividend price of Rs. 100.1644 per unit. This is the second interim payout announced from the fund for the financial year 2010-2011.

KARACHI: Ateeq ur Rehman (KCCI), Dr Asim Qidwai (AMTF) snapped at a presentaion on “Thalassemia free Pakistan” .-Staff Photo

KARACHI: Ramzan Chhipa distributed blankets, quilts and warm cloth among flood evacuees at IDP Camp on Super Highway.-Staff Photo

A+(f) rating for IGIIF

PSDP funds still awaited

Report of merger of Bank Alfalah denied

Reactivation odered

PR fixing priorities to spend bailout package


3

Tuesday, January 11, 2011

Euro off 4-mth low, but outlook still bleak

Top Economic Events

problems are 'knotted.'" Analysts said the euro's close below its 200-day moving average last week at $1.3075 was particularly bearish. The next key downside support lies at $1.2795, the 61.8 per cent Fibonacci retracement of its rally from June to November. A senior euro-zone source told Reuters on Sunday pressure was growing on Portugal from Germany and France to seek financial help from the European Union and International Monetary Fund to prevent the debt crisis spreading. Germany denied the report. Portugal, Italy and Spain are all due to

tap the bond market for funds this week, and investors were nervous about whether these highly indebted countries will be

able to raise funds at sustainable levels in 2011. The euro last traded up 0.3 per cent at $1.2953, though it remained down about 3.3 per cent in the first six trading sessions this year. Traders reported option barriers at $1.2850 and sovereign buy orders just above that level. Against the Swiss franc, the euro rose 0.3 per cent to 1.2526 francs.

Asian currencies

Inflation scare stings Indonesian rupiah, Thai baht Baht drops to 3-month low vs dollar; rupiah at 5-month low SEOUL: The Thai baht and the Indonesian rupiah tumbled against the US dollar on Monday, after fears monetary authorities have fallen behind on inflation sent foreign investors bailing from domestic equities. Stock markets in Thailand and Indonesia were among last year's best performers in Asia, though a persistent rise in commodities prices has spooked investors and triggered folding of positions in currency markets. The baht sank 1.6 per cent against the dollar, the biggest single-day decline since June 2008. "A firm dollar across the board since last Friday and concerns in Asian bourses, such as

Indonesia and Thailand where their central banks were perceived to be behind the curve in monetary policy, hit their currencies and stocks," said a Kuala Lumpur-based dealer. Investors were particularly keen on shrinking their exposure to Indonesia, where the central bank has not yet raised interest rates since the global financial crisis ebbed. Additional caution about riskier Asian currencies also stemmed from new debt supply expected this week from peripheral European governments, including 1.25 billion euros of bonds from Portugal. The baht lost more than 1 per

Stg edges up as debt problems dog euro LONDON: Sterling hit its highest level against the euro in nearly four months on Monday as the single currency was stung by increasing concerns about sovereign debt problems in the eurozone. But despite slight gains against the euro, the pound slipped against the dollar after mortgage lender Halifax said UK house prices fell 1.6 per cent year-on-

year in the three months to December, its biggest fall since November 2009. The euro was on the back foot after a senior euro-zone source on Sunday said euro-zone countries are cranking up pressure on Portugal to seek financial help from the European Union and the International Monetary Fund, to stem contagion risks from its debt problems. The BoE is widely expected to keep rates unchanged at a record low 0.5 per cent when it holds a monetary policy meeting later this week. RBS expects the UK

central bank will raise rates in November. The euro fell as low as 82.85 pence, its weakest since Sept. 16. It pulled back to around 83.15 pence by late London trade, little changed on the day. Traders cited bids at 82.80 pence as helping the euro recover from its early slide. Some traders said that while sterling was likely to continue climbing against the euro, it

could lose out to a broadly stronger dollar. The pound slipped as low as $1.5475 in the aftermath of the Halifax figures, before pulling back to $1.5530 by late London trade, down 0.2 per cent on the day. Sterling's gain versus the euro helped to push the UK currency's trade-weighted index to 81.40, its highest since midDecember. It rose to the day's high versus the Swiss franc around 1.5100 francs, with traders citing stoploss orders triggered around 1.5080 francs. -Reuters

cent to weaken to as soft as 30.70 per dollar, the weakest since Sept 27 last year as foreign banks tripped stops when it weakened 30.50. The rupiah lost 0.4 per cent as stock markets continued to slide on massive selling from foreign accounts. The central bank was touted selling dollars at 9,050 per dollar but has since move offer to 9,060. Dollar/rupiah was last indicated at 9055-9060, while the one-month NDF was at 9095-9115. The peso lost 0.4 per cent against the dollar on profit taking in stocks and as fears of rate hikes in the region underpinned sentiment. -Reuters

Swiss franc near high vs euro ZURICH: The Swiss franc flirted with fresh highs against the euro on Monday as investors poured more money into the safe-haven currency ahead of euro-zone bond sales. The franc has hit a series of records against the euro in recent weeks as investors have worried about the euro's prospects and attention is now turning to the upcoming bond auctions, which will show whether Portugal, Spain and Italy can refinance their debt piles at sustainable cost. At 0833 GMT, the franc was trading at 1.2437 against the euro compared, up from 1.2493 at the New York close on Friday. It was also slightly higher against the dollar at 0.9641 per dollar. The Swiss economy ministry confirmed on Monday it would call a meeting of business leaders and trade unions to discuss the implications of the recordstrong Swiss franc. The Swissie rose around 16 per cent against the euro last year, giving Swiss exporters a headache and prompting warnings from business leaders such as Swatch Group head Nick Hayek and Lonza chief executive Stefan Borgas. -Reuters

Aussie dollar on way to record high vs euro WELLINGTON/SYDNEY: The Australian and New Zealand currencies climbed towards new highs on a struggling euro as Europe's debt problems continued to haunt the single currency, while marking time against the US dollar ahead of a data-packed week. The euro fell to within a whisker of record lows against the Australian dollar in early trade before steadying at A$1.2958, having shed nearly 3 per cent from a high of A$1.3325 in the past week. Although the single currency pared some of its earlier losses on Monday, it still looks vulnerable ahead of fresh debt supply from Portugal and Spain this week. "If the [bond auctions] go badly, you could certainly see the euro loose another 2 or 3 cents... pushing the Aussie up," said Joseph Capurso, strategist at Commonwealth Bank of Australia. He added the euro could fall to A$1.26-A$1.27 this week, particularly if US economic numbers impress. A raft of data including producers and consumers inflation and trade is expected this week in the United States.

The euro also hit a five-year low against the kiwi at NZ$1.6909, before steadying at around NZ$1.6935 in late local trade. The Aussie was steady on the US dollar at around $0.9957, in a thin trading session, It briefly edged up to $0.9982 on Australian November retail sales data that showed an expected rise of 0.3 per cent. But the currency lost of bit of steam when data showed Chinese exports rose somewhat less than hoped in December. However, the breakdown actually showed Chinese imports of Australian goods grew a brisk 42 per cent in December while China recorded a deficit with Australia of US$3.8 billion, the biggest shortfall of 2010. The NZ dollar firmed to $0.7605, from $0.7577 locally on Friday, after hovering in 0.7574$0.7627 range. \ The Aussie slipped to NZ$1.3074, from NZ$1.3100, as real money and short-term speculative accounts bought the kiwi. The pair was also pressured as floods threatened Australia's third biggest city, Brisbane. -Reuters

The Swiss currency weakened after a report said the Swiss government will meet business leaders and trade unions next week to discuss the implications of the record-strong Swiss franc. "You could argue the euro is a little bit oversold on the short term," said John McCarthy, director of foreign exchange trading at ING Capital Markets in New York. "There's been a little bit of euro buying and profit-taking on short euro crosses. But the euro is still relatively well offered. There's obviously renewed concern about Portugal." The dollar index, which measures its performance against a basket of major currencies, fell 0.2 per cent to 80.854, having risen to a high of 81.313--its highest since early December. The dollar slipped 0.4 per cent to 82.72 yen. -Reuters

Yuan weakens; steady appreciation seen SHANGHAI: The yuan closed lower versus the dollar on Monday after the People's Bank of China set a slightly weaker mid-point to reflect but lag a rise in the US dollar index, which has jumped 2.5 per cent so far this year. Traders said the yuan's slight weakening would not have a major impact on market expectations that the currency would rise steadily in 2011 as China fights against imported inflation and tries to ward off US pressure for the yuan to appreciate. Meanwhile, a jump in China's domestic food prices has boosted inflation to a 28month high of 5.1 per cent in November. December consumer price data will be announced later this month. China posted on Monday a smaller-than-expected trade surplus in December as imports surged 25.6 per cent while exports grew at a slower pace of 17.9 per cent.

"The stronger import data was due to higher commodity prices," said Li-gang Liu, economist at ANZ in Hong Kong, adding that the slowdown in December exports was a seasonal factor and exports were expected to continue to be robust in 2011. Spot yuan closed at 6.6377 versus the dollar, down from Friday's close of 6.6280. It has now risen 2.84 per cent since its mid-June depegging. Before trade began, the PBOC set the yuan's midpoint versus the dollar at 6.6349, marginally weaker than Friday's 6.6341. The yuan could move 0.5 per cent in either direction from the central bank's fixing in a trading day. The market is closely monitoring signals from the PBOC, as to when it will engineer the next leg of yuan appreciation into the 6.50 to 6.60 range. -Reuters

Indian rupee drops as shares tumble MUMBAI: The Indian rupee fell to a three-week low on Monday tracking sharp losses in shares which raised concerns of foreign fund outflows, while some dollar demand from oil firms and importers also weighed. The partially convertible rupee closed at 45.45/46 per dollar, after falling as low as 45.5175 during trade, its weakest since Dec. 20 and 0.15 per cent below Friday's close of 45.38/39. "Rupee weakened mainly tracking the equity market. Lots of foreign fund outflows were seen. Oil demand was there too," said Vikas Chittiprolu, a senior foreign exchange dealer with state-run Andhra Bank. "45.65 is a key level to watch. We should see the market touching that level tomorrow, so weakness will continue. But exporters interest to sell is keeping losses buffered." Foreign funds sold shares worth $212.6 million on Friday, taking net outflows so far this year to $10.7 mil-

Source GBP AUD JPY CAD USD USD

Events BRC Retail Sales Monitor y/y Trade Balance Leading Indicators Housing Starts IBD/TIPP Economic Optimism Wholesale Inventories m/m

Source

Events

NZD JPY AUD CNY EUR GBP CHF EUR

Trade Balance Bank Holiday Retail Sales m/m Trade Balance French Industrial Production m/m Halifax HPI m/m Retail Sales y/y Sentix Investor Confidence

Forecast 2.03B 100.9% 179K 47.1 1.1%

Previous 0.7% 2.63B 97.2% 188K 45.8 1.9%

Actual

Forecast

Previous

-186M

-133M

-224M

0.3% 13.1B 2.3% -1.3% 2.5% 10.6

0.3% 20.9B 1.1% -0.3% 2.2% 11.9

-0.8% 22.9B -0.8% -0.2% 3.5% 9.7

Previous Day

Portugal under pressure to accept financial aid package NEW YORK: The euro reversed losses on Monday that had driven it to a four-month low against the dollar, though gains were expected to be shortlived amid worries about the ability of indebted euro-zone countries to raise funds and speculation that Portugal will need a bailout. The recovery in the euro, which fell as low as $1.2860 on trading platform EBS, was partly helped by gains versus the Swiss franc on speculation the Swiss government may take measures to rein in currency strength. "We see a further escalation in the European debt crisis, and a substantially weaker euro," said Stephen Jen, managing director of macroeconomics and currencies at BlueGold Capital Management LLP in London. "There is no silver bullet because the underlying

Time 5:01 5:30 10:00 18:15 20:00 20:00

lion. The rupee had gained 4.1 per cent in 2010 on record $29.3 billion inflows. The central bank is scheduled to review monetary policy on Jan. 25, when it is widely expected to raise rates. One-month offshore nondeliverable forward contracts were quoted at 45.77, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange all closed at 45.60, with total traded volume on the three exchanges at $5.7 billion. Reuters

Currencies Rate Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY CAD-CHF Gold Silver

As per 22.00 PST Ask High 1.2937 1.2949 0.9696 0.9725 1.5571 1.5572 0.9939 0.9981 0.9916 0.9976 107.0600 107.6500 0.8313 0.8339 1.2544 1.2562 128.9000 129.3300 85.4100 86.3300 0.9731 0.9763 1372.0500 1376.0900 -

Bid 1.2934 0.9691 1.5567 0.9935 0.9912 107.0200 0.8309 1.2540 128.8200 85.3500 0.9724 1371.3000 -

Low 1.2874 0.9632 1.5477 0.9912 0.9887 106.8400 0.8288 1.2437 128.3500 85.1800 0.9627 1366.0100 -

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 10/01/2011 A USD GBP CAD EUR JPY O/N 0.24125 0.55813 0.92500 0.34000 SN 0.09375 1WK 0.25438 0.57063 1.00000 0.48875 0.10288 2WK 0.25656 0.57438 1.04250 0.55125 0.10938 1MO 0.26125 0.59000 1.09500 0.69063 0.12063 2MO 0.28250 0.64875 1.15583 0.80500 0.15000 3MO 0.30313 0.76563 1.23833 0.93125 0.18725 4MO 0.34625 0.84875 1.31167 0.99500 0.24313 5MO 0.40250 0.95313 1.37333 1.08063 0.30000 6MO 0.45706 1.06063 1.44833 1.17375 0.34750 7MO 0.51125 1.13813 1.51167 1.22438 0.39750 8MO 0.56688 1.22250 1.58917 1.28063 0.44313 9MO 0.61781 1.30438 1.65667 1.32938 0.48750 10MO 0.66969 1.38375 1.73500 1.37938 0.51438 11MO 0.72469 1.45125 1.82167 1.42188 0.54000 12MO 0.78400 1.51813 1.90333 1.46250 0.56750

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

Next Meeting

Last Change

January 13, 2011 January 13, 2011 March 17, 2011 February 1, 2011 n/a n/a n/a

March 5, 2009 May 7, 2009 March 12, 2009 November 2, 2010 September 8, 2010 December 16, 2008 December 19, 2008

Current Interest Rate 0.50% 1% 0.25% 4.75% 1% 0.25% 0.10%

Division of National Bank of Pakistan (NBP) KARACHI, January 10,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

85.80 133.34 110.72 86.34 88.92 85.44 12.41 1.03 14.33 66.21 14.86 22.88 11.04 12.94 304.26 27.96 65.33 23.57 23.36 0.08 2.82

85.60 133.03 110.46 86.14 88.71 85.24 12.38 1.03 14.30 66.06 14.83 22.83 11.01 12.91 303.55 27.89 65.18 23.51 23.30 0.08 2.81

85.42 132.72 110.21 85.91 88.48 85.02 12.35 1.03 14.26 65.89 14.79 22.77 10.98 12.87 302.75 27.82 65.00 23.45 23.24 0.08 2.81

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 10, 2011

CMAK

BMA

INVSR

GSL

ICSL

12.35 12.70 12.80 12.90 13.20 13.25 13.30 13.50 13.65 13.95 14.18 14.20 14.22 14.23 14.24 14.24 14.22 14.25 14.55 14.70 14.80

12.45 12.60 12.80 12.90 13.23 13.35 13.50 13.54 13.72 14.00 14.24 14.23 14.25 14.35 14.37 14.16 14.15 14.28 14.60 14.75 14.85

12.30 12.65 12.75 13.05 13.22 13.35 13.44 13.55 13.75 14.00 14.23 14.24 14.26 14.34 14.37 14.20 14.17 14.29 14.60 14.75 15.00

12.35 12.65 12.80 13.08 13.22 13.40 13.50 13.70 13.78 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.25 14.65 14.90 15.10

12.25 12.50 12.55 12.95 13.20 13.25 13.30 13.45 13.65 13.95 14.25 14.22 14.23 14.30 14.35 14.15 14.20 14.25 14.55 14.75 15.00

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

JSCM AvgRate 12.40 12.65 12.80 13.00 13.20 13.30 13.35 13.50 13.70 14.00 14.25 14.25 14.28 14.30 14.35 14.20 14.15 14.26 14.70 14.90 15.00

12.35 12.63 12.75 12.98 13.21 13.32 13.40 13.54 13.71 13.98 14.23 14.23 14.25 14.30 14.33 14.21 14.17 14.26 14.61 14.79 14.96

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

-0.99 -0.97 -0.41 -0.84 -0.68 -0.71

0.37 0.72 -0.42 0.17 0.77 0.78

-0.86 -0.70 -0.82 -0.75 0.28 0.36

-0.30 0.73 -0.33 -0.09 0.66 0.72

EUR/USD GBP/USD -0.90 -0.36 -0.77 -0.76 -0.19 0.05

-0.63 0.35 -0.43 -0.56 -0.54 -0.19

NZD/USD USD/CAD -0.99 -0.91 -0.44 -0.76 -0.73 -0.68

0.00 0.69 0.04 0.64 0.25 0.64

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)10/01/2011 1WEEK

2 WEEK

1 MONTH

3 MONTH

6 MONTH

9 MONTH

1YEAR

2YEARS

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

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 12.20

12.70

12.45

12.95

12.65

13.15

13.20

13.45

13.45

13.70

13.55

14.05

13.60

14.15

13.70

14.20

JSBL

12.25

12.75

12.50

13.00

12.80

13.30

13.25

13.50

13.45

13.70

13.50

14.00

13.70

14.20

13.80

14.30

ASPK 12.30 CIPK

ABPL

ASK

12.80

12.50

13.00

12.70

13.20

13.20

13.45

13.35

13.60

13.50

14.00

13.60

14.10

13.70

14.20

12.50

13.00

12.60

13.10

12.70

13.20

13.25

13.50

13.45

13.70

13.55

14.05

13.70

14.25

14.00

14.50

DBPK 12.10

12.60

12.30

12.80

12.50

13.00

13.00

13.25

13.15

13.40

13.30

13.80

13.50

14.00

13.60

14.10

FBPK 12.30

12.80

12.50

13.00

12.70

13.20

13.20

13.45

13.45

13.70

13.55

14.05

13.70

14.25

13.90

14.40

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

HBPK 12.15

12.65

12.45

12.95

12.70

13.20

13.25

13.50

13.40

13.65

13.50

14.00

13.65

14.15

13.75

14.25

HKBP 12.30

12.80

12.50

13.00

12.65

13.15

13.15

13.40

13.35

13.60

13.50

14.00

13.60

14.10

13.70

14.20

NIPK

FLAH

12.40

12.90

12.75

13.25

13.10

13.60

13.50

13.75

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

HMBP 12.30

12.80

12.50

13.00

12.80

13.30

13.25

13.50

13.35

13.60

13.50

14.00

13.60

14.10

13.70

14.20

SAMB 12.25

12.75

12.50

13.00

12.80

13.30

13.30

13.55

13.50

13.75

13.50

14.00

13.65

14.15

13.75

14.25

MCBK 12.40

12.90

12.50

13.00

12.60

13.10

13.15

13.40

13.30

13.50

13.40

13.90

13.50

14.00

13.75

14.25

NBPK 12.25

12.75

12.65

13.15

12.70

13.20

13.20

13.45

13.30

13.55

13.50

14.00

13.65

14.15

13.75

SCPK 12.20

12.70

12.40

12.90

12.60

13.10

13.10

13.35

13.25

13.50

13.45

13.95

13.50

14.00

13.70

14.20

UBPL 11.85

12.35

12.20

12.70

12.55

13.05

13.20

13.45

13.40

13.65

13.50

14.00

13.70

14.20

13.70

14.20

AVE

12.76

12.49

12.99

12.69

13.19

13.21

13.46

13.39

13.64

13.51

14.01

13.64

14.14

13.73

14.23

12.26

14.25


4 Tuesday, January 11, 2011

Hindu Extremism & the Art of Diplomacy

The Financial Daily International Vol 4, Issue 150

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board S. Muneer Hussain Rizvi

Haseeb Khan, FCA Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

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

Doing us a power of no good If Punjab was enduring gas load shedding it was not possible to let Sindh enjoy immunity from the menace. The game has already started with reduced pressure and curtailing supply to KESC. It is feared that if supply of gas to KESC is curtailed the average spell of electricity load shedding in Karachi may touch 12 hours a day. A debate has already started, is SSGC bound to meet enhanced demand of KESC? For years a controversy has been going on that contractually SSGC is liable to supply only a limited quantity of gas but has been supplying much higher quantities. Therefore, in case of any shortfall or enhanced demand of priority sectors, SSGC can curtail gas supply to KESC. However, keeping in view the importance of Karachi in Pakistan's economy as well as politics no government can think about undertaking extensive load shedding of gas and electricity. After the privatisation of KESC and foreign investors' acquiring substantial stake and investing billions of rupees, curtailing gas supply to the problem ridden utility has become almost impossible. It is known to all and sundry that almost all the leading political parties, PPP, MQM, and ANP have a strong vote bank in the metropolis having a population of around 20 million. Often energy related riots have erupted in the mega city and both the federal and provincial governments has learnt a lesson to keep on injecting money into the KESC rather than bringing economic activities to a grinding halt. This policy is often not liked by those parties who do not have dedicated supporters in Karachi. It is on record that once KESC was exporting electricity to Wapda but now it is dependent on two IPPs operating in its franchised area and Pepco. The immediate question which comes to mind is: what went wrong? The reply is very simple over the last 15 years when KESC was operating under state control no new generation capacity has been added. Some of the experts say that as against latent demand of over 5,000MW, KESC has a dependable capacity of around 1,200MW. Therefore, unless new capacity is added menace of load shedding can't be controlled. The failure to add new capacity can be attributed to poor cash flow, owing mainly to electricity theft. Over the decades KESC has not been able to contain this, partly because of its conniving staff and partly because of law enforcing agencies' non-cooperation. Now a demand is being openly made which is: if residents of many areas of Pakistan have been using electricity free of cost for the last six decades, why the government is not willing to provide subsidy to KESC's consumers?

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.

ABID LATIF SINDHU

W

ikiLeaks these days is quite a story, almost getting a status of a reality check in this world of mendacity. After whirl pooling the Pakistan, the WikiLeaks is making noises in India. Rahul Gandhi is quoted to have said that Hindu extremists are a bigger threat than the Muslim militants. The saffron brigade in India is taking this statement very seriously calling that Rahul is playing to Pakistan's tunes. Oh my God, what a volte-face of allegiance from the future leader of Indian political dynasty. The saffron brigade is actually a triangular arrangement, BJP being its political arm, RSS the fanatical wing and Indian intelligence and army the official soothsayers and cohorts in uniformity of saffronic uniforms. Indian Army Chief Gen V K Singh has recently given two statements of saffron tinge; one, that Pakistan and China are irritants, on other side he made the insinuation that those who were responsible for Mumbai attacks had direct support and connivance of Pakistan Army. The consolation as being part of saffron brigade is so overwhelming that anyone who aspires to climb the political ladder adapts the same thorough fare as the other highways of dynastic and Communist routes are overcrowded and well neigh blocked. The timing of this military diatribe is very significant. The Chinese Premier was in India when China and Pakistan were termed as irritants, while Indian Prime Minister and external ministry were busy cajoling their guest.

Later once the Chinese delegation got perturbed; it was told that these are the peccadilloes by army chief of India not the official stance so please ignore it. Give it a break. A

unscrupulous way. How then in the same country an army chief whip the two most important countries of the region? The other comment of Gen V K Singh even has interna-

“

Rahul Gandhi is quoted to have said that Hindu extremists are a bigger threat than the Muslim militants. The saffron brigade in India is taking this statement very seriously calling that Rahul is playing to Pakistan's tunes

country in which even a Section Officer of the concerned ministry can dictate official dictums to Army Chief, how the matters of immense foreign affairs appeal can be commented upon by the some tip toed generals of India.

tional repercussions in which he blamed the Pakistan Army for direct involvement in the Mumbai attacks. The known Indian politico military philosopher Chankiya must be calling accolades for his surrogates

“

The French Prime Minister and the German Chancellor were made to comment by India under the gun point; the gun this time was different, the economic double barrel with global outreach.

The space which Indian generals and services chief occupy in political decision making can be gauged from the fact that conqueror of East Pakistan Gen Aurora made some political commenting; the bravest of all was shown the door by Indra Gandhi in the most

in the Indian External Affairs Ministry from his eternal abode. India is now trying to prove to the world that Pakistan is cause of all the terrorism in the world. At diplomatic, governmental and even people to people levels, it is trying to exchange diplomatic pleas-

antries. Beyond veneer, at real levels it is stabbing Pakistan with all the vigor of a blood thirsty hound. In Kashmir the Indian government is facing new challenges, the government and even people of India knows that this time the struggle is indigenous. The American officials have told the same to their strategic partners the Uncle Sam. So, why kicking the dirt that leaves the issue of Mumbai attacks to whip the bad boy of the regional bandwagon? The diplomatic smear campaign was orchestrated all along the visits of foreign dignitaries and heads of state to India. The French Prime Minister and the German Chancellor were made to comment by India under the gun point; the gun this time was different, the economic double barrel with global outreach. Indian shenanigans are not a new thing for Pakistan and China they have had tasted this moonshine many a times. The friends across Atlantic are for the first time coming that close to have their reality-check. Still one can pay standing ovation to all those who say that India is our friend and elder brother, besides the eldest across the Great Wall. The world is about to witness a diplomatic specter when Indian name will be supported for inclusion in the IS Security Council by USA, France, Germany and a number of others, that will be the time when people from 13 states of India will be filing their cases for independence to get rid of decades old insurgencies. Pakistan is a country facing many challenges, you add another one of diplomatic mendacity, and it hardly matters.

Mine Your Own Business As a common Pakistani I see the exploration of the Riko Deq copper and gold mines as a blessing of God for my poor nation and a ray of hope in these troubled times when the political and economic conditions are worst in the country's history. However I feel upset that a certain lobby is trying hard to shoo away the foreign company that has invested so much time, money and labour to explore this gift of God and has rekindled hope in us that we and our generations can have a better future in this country. Reading an interview of Ameena Saiyed, the OICCI chief in Pakistan, published in a section of the press on January 7 I was depressed to know that our country is no more on the radar of international foreign

investors. This is the result of the inconsistent policies of our successive governments and the planners who are sitting at the helm of affairs in Islamabad. One cannot deny the fact that the country's interest should be kept foremost while signing agreements with the foreign investors and from what I have understood about the project, more than half of the pre-tax earnings from Reko Diq will go to Pakistan. We should realize that the technology and investment needed to extract gold, copper and other metals and minerals from the ores of Reko Diq is not a doable task indigenously. In another article in written by Yaqoob Bizenjo on Jan 7 in a leading Urdu newspaper, a former managing director of Saindak Copper and Gold

Men & Monkeys A stranger came to a remote village along with his aide carrying along a hefty cage; the village was full of monkeys. The man asked all villagers to catch monkeys for him and he announced to pay 50 bugs for each monkey handed over to his aide. The villagers were very happy with much easy way of earning to find and catch monkeys for 50 each. After some time there were a very few monkeys left as much of them were caught by villagers. The stranger man left for a city close by with increasing rates of monkey to be given 200 if caught by villagers. On same night aide discretely talked to some greedy villagers that he can handover most of monkeys in 150 as monkeys already caught have not been counted by his master who is arriving back next morning and villager could sell back same in 150 on arrival of his boss. The villagers bought all monkeys from aide in 150. Next day everyone was finding man and his aide; there was nothing but villagers and monkeys left. Stock markets are full of such stories when innocent investors grab some stocks merely on intuition of their own, some one else, brokers or friends with the desire of becoming rich in much easier manner. In the end they find their portfolio amazingly reduced or eliminated some time if working in leveraged market. And they carry along only monkeys with no wealth. A large number of companies are listed in stock exchanges with altogether difference in performance in earning, expansion and growth and their function in respective sectors. An investor should necessarily be aware with all relevant information of these companies and should also be able to compare their performance. Markets also perform on several important economical arithmetic and indicators besides certain intangibles of political stability and international markets performance and well acquaintance with all are compulsory skills of an investors. Individual investors should come always prepare to take on all challenges in a professional manner and only they can survive in stock market. Mere trust on trader, brokers and friends and family for investment may take an investor to trouble. Fahim Akhtar, Karachi

project, this fact has been endorsed by the experiences detailed by the writer in execution of the project. He has lamented that our country cannot even produce a 2.2KV generator so how on earth we can develop the technology and machinery required for projects like Riko Diq and Saindak. This deplorable mindset has already inflicted considerable loss to Saindak and we are yet to reap full benefits of this great natural resource. Riko Diq might face a similar fate if we ask Tethyan Coppers Company (TCC) - the firm that has done more than 230 million dollars of risk investment to explore Riko Diq's mineral resources - to pack up their bags and leave the country taking the money that they have invested so far. It is the people of Pakistan, their generations and

their future which will be at loss if such an unfortunate decision is taken. The planners in Islamabad-who send their children to live abroad and settle there forever-have done enough damage to us and they must be held accountable. Also, I would like to request the government that the expertise of nuclear scientists like Dr Samar Mubarakmand can best be utilized for solving the electricity crisis that has crippled the whole nation and its economy and they should be asked to develop cheap and clean nuclear power plants in the country or at least overhaul the ailing KANNUP nuclear power plant in Karachi that has to be shut down every other week due to technical troubles. Mining is totally a different ball game! Naufil Shahrukh, Karachi

Our Fading Social Taboos For the last decade our life styles have changed quickly. Sometimes, we find it difficult to cope with ever changing norms and values of our society, nobody would differ that our social taboos are fading out. Knowingly or unknowingly the vultures of other cultures, differing totally with our values, have put their beaks in our hearts. Singing and dancing is the only entertainment we are left with. For this entertainment we may exceed our limits to excel in this field. Cultural threats are product of mushroom channels, having no aim but to detract the youth. Sociability once the hallmark of our people has gone with the wind. Our elders tell us that in their youth their was no question of disintegration in society. People of a village or even in small cities had a knot of friendship and were well acquainted with one another as their was no more and more lust for Money! They had free time to gossip and visit each other because they were not glued to Television sets. In present

busy world we don't find time to see our relatives even once in a blue moon. The most vulnerable point is the decay of moral values. Moral turpitude is on the rise. Free Night packages by mobile companies only cater to the needs of playful youth and if proper parental control is not exercised mobile and Internet users may fall in the ditch of immorality. On traffic signals we see the zenith of selfishness, everybody goes for himself in a flurry. We, sometimes, smash our cars into others but cannot show any patience and pick up courage to give way to others. If elders, ladies or children are trying to cross road, vehicle drives try their effort best to make them stop and wait more. Patience if observed on traffic signals, may save precious time and restricts traffic from going helter-skelter. Disciplined nations are judged from their driving on roads. We often see youngsters doing one wheeling on busy roads but no one dares to give them a piece of advice to

restrain from such action that may take their lives. Even Police officers, if they are short in number, also try to escape from the scene, lest some untoward incident may happen. Cleaning streets and road by dwellers has become a thing of Past. Sometimes ago, on various festivals all the vicinities were cleaned by inhabitants and cleanliness was served everywhere. Now! we have become so callous that we do not bother to reply the mobile calls of people we are not interested in. In such circumstances, expecting betterment in our attitudes is beyond logic. If we want some improvement in our attitudes, shed off our anxieties, hallucinations and tensions, we have to be synthesize ourselves in give and take mode. Moderation in our actions is a must for our progress, alternatively we may impoverish as a nation hastily. The best virtue in this mortal world is to help the fellow men and the Creator will help us in heavens. Iftikhar Shaheen Mirza, Islamabad


5

Tuesday, January 11, 2011

South East Asian stocks

European shares fall on euro-zone debt worries

Inflation fears trigger broad profit taking

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

Profiters let KSE down

12,389.04 12,306.70 -82.34 -0.66 135.40

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

3,783.95 3,764.98 -18.97 -0.50 13.09

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

3,155.91 3,136.53 -19.38 -0.61 0.29

Nawaz Ali

Major Gainers

Symbol

Close

Change

RMPL 2,104.64 CPL 195.63 ENGRO 208.00 SHEZ 128.63 PSEL 164.99

14.34 8.56 6.45 6.12 5.39

Major Losers

Symbol ULEVER NESTLE UPFL WYETH SIEM

Close

Change

4,308.72 2,448.06 1,090.50 1,030.85 1,216.00

-45.08 -23.6 -19.95 -19.15 -18.9

Top 5 Volume Leaders

Symbol SILK LOTPTA FFBL ENGRO KESC

Close Vol (mn) 2.93 14.66 38.65 208.00 3.07

17.57 14.44 12.70 7.27 5.52

Active Issues Plus Minus Unchanged

166 217 24

Sector Updates FERTILISER 000 tonnes

Urea Offtake (Jan to Nov 10) 5,463 Urea Offtake (Nov 10) 845 Urea Price (Rs/50 kg) 870 DAP Offtake (Jan to Nov 09) 121 DAP Offtake (Nov 10) 152 DAP Price (Rs/50 kg) 3,137

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Nov 10) Sales (July 10 to Nov 10) Production (Nov 10) Sales (Nov 10)

33,929 32,092 7,087 6,813

INDUS MOTOR CO Production (July 10 to Nov 10) 20,987 Sales (July 10 to Nov 10) 20,375 Production (Nov 10) 3,974 Sales (Nov 10) 3,753

HONDA ATLAS CAR Production (July 10 to Nov 10)6,626 Sales (July 10 to Nov 10) 6,247 Production (Nov 10) 1,145 Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORS Production (July 10 to Nov 10) 186 Sales (July 10 to Nov 10) 70 Production (Nov 10) 0 Sales (Nov 10) 0

BANKING SECTOR Scheduled bank (Rs in mn) Deposit (December 3,10) 4,824,464 Advances (December 3,10) 3,050,639 Investments (December 3,10) 1,916,917 Spread (October 10) 7.49%

OIL MARKETING CO (000 tons) MS (Jul 10 to Nov 10) MS (Nov 10) Kerosene (Jul 10 to Nov 10) Kerosene (Nov 10) JP (Jul 10 to Nov 10) JP (Nov 10) HSD (Jul 10 to Nov 10) HSD (Nov 10) LDO (Jul 10 to Nov 10)) LDO (Nov 10) Fuel Oil (Jul 10 to Nov 10) Fuel Oil (Nov 10) Others (Jul 10 to Nov 10) Others (Nov 10)

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

932 186 66 12 589 124 2,792 612 26 4 3,641 572 3 1

Rs 45.15 44.53 1.39% 52.04 51.25 1.54% 52.27 51.48 1.53% 55.20 54.24 1.77% 50.52 49.51 2.04% 43,019 42,046

AMMAN: A dealer watches price movements on the Amman Stock Exchange electronic board in the investors' gallery of the bourse.-Reuters

Indian shares at 6-wk closing lows MUMBAI: The BSE Sensex tumbled 2.4 per cent to its six-week closing low on Monday, led by financials, on rate increase jitters and fund inflow slow down fears, with quarterly earnings which begin this week eyed for more cues. The benchmark index fell for the fifth straight session, its longest such losing streak since May 2010. Rate-sensitive sectors were the hardest hit, with the banking, auto, and real estate indexes declining between 2.1 per cent and 3.6 per cent. The 30-share BSE index shed 2.38 per cent or 467.69 points to 19,224.12 points, its lowest close since Nov. 26, 2010. Twenty-eight of its components closed in the red. The main index is down 6.3 per cent already in 2011, after rising 17.4 per cent in 2010, on the back of record foreign fund inflows of

$29.3 billion. "Rate hike fears have been bothering of late," said Arun Kejriwal, director of research firm KRIS. A surge in food inflation to 18.38 per cent in late December, its highest in more than a year, sparked talks of a hawkish monetary stance by the central bank when it reviews policy on Jan. 25. The central bank governor said late Friday a pause in its tightening cycle should be interpreted as a comma and not a full stop, indicating further monetary policy tightening going ahead. "Also, there are concerns that FII (foreign institutional investors) inflows may be diverted away from emerging economies to developed ones as they start faring better," said Kejriwal. The US economy may finally be hitting its stride even if growth remains too weak to put a real dent in the

nation's jobless rate, Federal Reserve Chairman Ben Bernanke said on Friday. "When those (developed) economies start doing well, why should FIIs look at countries like India in a similar way," Kejriwal added. Top lender State Bank of India shed 2 per cent while rivals ICICI Bank and HDFC Bank declined 3.2 per cent and 3 per cent. Mortgage lender Housing Development Finance Corp dropped 4.4 per cent. Automakers such as Tata Motors, Hero Honda, Maruti Suzuki and Mahindra & Mahindra retreated between nearly 1 per cent and 3.7 per cent. Second-largest outsourcer Infosys Technologies, which kicks off quarterly earnings season on Thursday, bucked the trend and closed 0.9 per cent higher on expectations of robust performance and optimistic guidance.-Reuters

HK, China topple on realty tax talk HONG KONG/SHANGHAI: Hong Kong and China stocks retreated on Monday, Jan 10 as property and banking issues fell on a report that the southwestern Chinese city of Chongqing may impose a property tax in the current quarter. The benchmark Hang Seng Index closed 0.97 per cent or 159.37 points lower at 23,527.26. The China Enterprises Index of top locally listed China stocks fell 0.92 per cent to 12,806.59. Shanghai's benchmark Composite Index eased to 2,791.81 points, falling past the 2,800-point psychological level and the 250-day moving average, now at 2,836 points. "The fundamentals of these stocks haven't changed," said Ben Kwong, chief operating officer at KGI Asia in Hong Kong. "The government is trying to keep inflation in check, and this will mean that the major banks and property

developers will have to step in line." The China Securities Journal reported that the southwestern Chinese city of Chongqing was set to become the country's first to introduce a long-debated property tax as part of efforts to fight sky-high house prices. Among China-focused real estate developers in Hong Kong, China Resources Land Ltd dropped 3 per cent and Hang Lung Properties Ltd fell 2.3 per cent on concern that the new tax could hit buyers looking at second or third properties. Hong Kong developers Sino Land Co Ltd and Henderson Land Development Co Ltd were also dragged down, falling 0.88 per cent and 0.62 per cent, respectively. The Hang Seng Index's slow stochastic, an indicator of short-term trends, is now being pulling back from oversold territory for

the first time this year, suggesting that buying could soon resume. Further falls on the Shanghai bourse could also be limited as it remained abundant with liquidity, said Haitong Securities analyst Zhang Qi. "Don't be too negative now," said Zhang. "It may be a correction. An abundance of funds and optimistic company earnings may support the market." Property counters in Shanghai initially showed a limited reaction to reports on property taxes but came under selling pressure in afternoon trading as investors digested the news. A sub-index of property companies fell 2 per cent. China Vanke Co Ltd, the most active stock in the Shenzhen market, fell 1.7 per cent, while Gemdale Corp, the third most active stock in the Shanghai market, was down 2 per cent.Reuters

US stocks late-morning

Wall Street down on Portugal concerns NEW YORK: US stocks fell for a third straight session on Monday as a previously buoyant market limped into earnings season. The latest worries about the euro zone sovereign debt crisis also weighed on investors, diverting attention from a flurry of merger activity. The European Central Bank threw Portugal a temporary lifeline on Monday by buying See # 15 Page 11

KSE de-lists Atlas Bank KARACHI: The Karachi Stock Exchange has delisted Atlas Bank Ltd with effect from January 11, 2011 following its merger with and into Summit Bank Ltd. According to KSE here Monday, the decision has been taken after the sanctioning of scheme of merger by the State Bank of Pakistan last month.-APP

KARACHI: After some early gains shares ended lower at the Karachi Stock Exchange (KSE) on Monday as investors preferred to book profits mainly in the oil sector above 12,500 level despite continued foreigners interest. The benchmark KSE 100Index fell by 82 points to close at 12,306 points, 30-Index lost 28 points and All Share Index was down by 52 points to close at 11,932 and 8,539 points respectively. "Institutional profit-taking was witnessed after 100-Index crossed 12,500 despite foreign interest", said Ahsan Mehanti, Director Arif Habib Investments. Moody's statement on Pakistan rating downgrade, IMF stance on energy subsidies, issues of gas supply to industrial sectors, and fall in global capital markets affected investor sentiments despite a bettering political situation, he added. Market started the day on a positive note with 52 plus points on, following easing political tension in the country. The bull-run then continued till around the midday with index touching an intraday high of 12,527 points (+ve 138 points). However, as market was witnessing a continuous upsurge since last few days, investors mainly from the local institutional side booked profits particularly in the oil stocks ejecting the early gains pushing index down to bear-

ish territory. Further, decline in regional stock markets too triggered the selling pressure, thereafter during the final moments of the session index touched the lowest level of the day of 12,266 points (-ve 122 points). Nevertheless, it managed to sustain 12,300 points level on the closing basis. "Offloading in regional markets also affected local investors' sentiments and early gains were eroded by late profit-taking", said Samar Iqbal, equity dealer Topline Securities. Foreign investors, however, remained on the buying side as NCCPL numbers showed there was a net foreign buying of $2.81 million on Monday. On the local side, banks and NBFCs did a net-selling of $11.67 million and $1.11 million respectively while individual investors and companies did a net-buying of $6.94 million and $2.88 million respectively. Investor participation too remained on the lower side as 135.4 million shares changed hands during the day which is 16.3 million less than a turnover of 151.7 million on Friday. Silk Bank stood as the volume leader with 17.57 million shares followed by Lotte Pakistan with 14.44 million and Fauji Fertiliser Bin Qasim with 12.7 million shares. Out of total 407 active issues 217 declined and 166 advanced while 24 issues stayed where they started from.

ANNOUNCEMENTS Company Bawany Sugar Dandot Cement Sakrand Sugar

Period Yearly Yearly Yearly

Div/Bon/Right -

PAT (Rs in mn) -135.356 -436.125 46.405

EPS(Rs) -15.51 -4.60 2.08

Dhiyan

IT’S GOING TO ‘RANGE’ TODAY Tariq Hussain Khan, Head of Portfolio Management United Capital Going forward, the positive trend may continue due to upcoming result announcements coupled with an improving political scene, though slightly. Based on technical analysis, the market has touched its very important barrier of 12,500 points, suggesting further appreciation if it manages to sustain 12,300 level on closing basis. Invest in E&P, fertiliser, banking, and textile sectors for medium to long-term. However, day-traders are advised to stay away from the market as it might move in a wide range in the days to come. Today, we expect the market might to open on a positive note and conclude on a mixed one.

Syed Faran Rizvi, Technical Analyst Invisor Securities Market tested its major support level of 12,274 points closely. Now trading above 12,389 points will give more strength to bulls due to which index can touch a level of 12,609 points in the coming days. Traders are recommended to buy with a stop loss at 12,274 points. They can take positions in oil, gas, fertiliser, and banking sectors. The upcoming corporate results and launch of Margin Trading System (MTS) would support the market in the future. Market would be rangebound today.


6

Tuesday, January 11, 2011

Market

KSE 100 Index

Symbols

Volume

135,400,198

Value

7,005,103,004

Trades

75,602

Advanced Declined Unchanged Total

Current High Low Change

166 217 24 407

All Share Index

12,306.70 12,535.77 12,264.07 i82.34

Current High Low Change

8,688.99 8,688.99 8,512.47 i52.89

OIL AND GAS

Company

Paid up Cap(mn)

PE

High Low 1,659.17 1,601.74 Total cos Defaulter cos P/BV (x) ROE (%) 3.82 32.54

Open

High

Low

Attock Petroleum 691 5.90 343.60 Attock Refinery 853 7.32 130.63 BYCO Petroleum 3921 - 11.27 Mari Gas Company 735 17.74 134.13 National Refinery 800 4.36 290.92 Oil & Gas Development XD 43009 12.04 180.66 Pak Petroleum 11950 9.08 225.73 Pak Oilfields 2365 7.62 321.71 Pak Refinery Limited 350 - 106.31 P.S.O 1715 4.98 296.56 Shell Gas LPG 226 - 33.29 Shell Pakistan 685 10.60 206.90

347.24 133.44 11.50 136.48 299.90 185.00 228.00 327.49 108.10 299.00 33.90 209.25

339.01 129.85 11.26 130.30 292.55 176.00 222.62 321.10 104.10 294.01 33.00 206.50

Close Chg 340.55 130.58 11.31 130.95 294.15 177.95 223.39 322.79 104.69 294.47 33.11 206.77

-3.05 -0.05 0.04 -3.18 3.23 -2.71 -2.34 1.08 -1.62 -2.09 -0.18 -0.13

Current High Low Change

KMI 30 Index Current High Low Change

11,932.50 12,105.68 11,894.43 i28.88

19,808.93 20,037.40 19,763.35 i22.38

Last 60 days High Low

Volume 157452 3731485 713145 362078 144534 1376337 1007328 2891765 64201 911728 7905 36935

374.20 137.20 12.49 136.48 299.90 185.00 228.88 327.49 114.50 300.53 40.28 209.89

287.99 86.40 10.46 110.02 203.00 146.62 179.81 231.01 64.84 262.00 29.10 182.05

2010 Div BR (%) (%) 300 31 200 55 90 255 80 40

% Change -0.94 5-Day High 1,628.77 5-Day Low 1,565.27 2011 Div BR (%) (%)

20B - 15.00 20B -

-

CHEMICALS

Company

Paid up Cap(mn)

Open 719.22 Turnover 19,674 P/E (x) 5.61 Company

Paid up Cap(mn)

Pak Int Cont.Terminal PNSC

1092 1321

High Low 736.35 716.04 Total cos Defaulter cos P/BV (x) ROE (%) 1.43 25.53

Close 719.12 Listed cap 3,242.17 mn Payout (%) 11.08

Change -0.10 Market cap 12,665.99 mn Div Yield (%) 1.97

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

6.92 40.00

69.02 37.15

71.00 37.46

69.03 36.37

69.19 0.17 36.80 -0.35

10542 9132

77.77 40.42

60.05 32.36

PE

Open

High

Low

8.99 51.00 103.80 196.42 204.98 3.45 9.00 3.38 11.36 210.45 15.87 11.39 134.05 39.24 45.24 12.90 152.00 30.80 15.04 1.85 2.13 2.40 124.50 13.43 36.60

7.40 51.00 99.00 189.00 199.98 3.19 8.32 3.14 11.00 203.00 15.36 11.14 132.70 38.55 44.09 12.43 146.90 30.80 14.61 1.81 2.05 2.39 122.25 13.20 36.00

Close Chg 7.40 51.00 99.62 195.63 201.89 3.30 8.50 3.15 11.00 208.00 15.47 11.18 132.86 38.65 45.19 12.49 147.82 30.80 14.66 1.81 2.05 2.39 122.52 13.25 36.02

-0.94 -2.31 -1.54 8.56 2.64 0.23 0.29 -0.13 0.00 6.45 0.23 -0.03 0.76 0.21 1.50 -0.34 -2.56 -1.61 -0.07 0.04 0.02 -0.01 -1.95 0.10 -0.46

Close 1,478.56 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 1954 950 18621 100152 128036 675443 909723 2040411 600 7265517 1307886 546407 1446116 12697417 1019 173688 335207 401 14437713 1002 540996 101 617 234318 530

Change 14.51 Market cap 333,144.26 mn Div Yield (%) 5.32

12.75 59.20 103.94 196.42 204.98 3.74 9.25 4.24 13.79 210.45 15.87 11.39 134.05 39.24 46.59 13.07 152.49 36.00 15.04 2.75 2.74 3.40 139.40 14.69 43.75

7.16 36.10 72.50 149.72 165.73 2.00 3.41 1.32 9.15 174.60 12.90 9.16 106.01 28.65 38.03 11.00 120.60 21.39 8.71 0.80 1.31 1.80 101.00 8.17 32.00

2010 Div BR (%) (%) 5 45 15 40 15 40 95 17.5 20 55 5 25 50

% Change 0.99 5-Day High 1,478.56 5-Day Low 1,427.62 2011 Div BR (%) (%)

10R - 12.50 5B -

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,226.02 Turnover 194,050 P/E (x) 6.32 Company

High Low 1,267.35 1,220.64 Total cos Defaulter cos P/BV (x) ROE (%) 0.47 7.47

Close 1,229.24 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 50 411

8.79 6.91

18.69 45.01 44.80

19.10 45.70 46.79

18.50 44.71 44.80

18.77 0.08 45.70 0.69 44.80 0.00

188400 762 4888

Century Paper Pak Paper Product Security Paper

Change 3.22 Market cap 3,406.50 mn Div Yield (%) 4.00

Last 60 days High Low 19.49 48.90 47.70

15.28 38.61 38.00

2010 Div BR (%) (%) 2533.33B 50 -

% Change 0.26 5-Day High 1,239.71 5-Day Low 1,212.48 2011 Div BR (%) (%) -

Open 1,227.71 Turnover 429,645 P/E (x) 4.48 Paid up Cap(mn)

Agriautos Ind Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering

PE

High Low 1,240.91 1,221.43 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 25.35

Open

High

Low

144 5.72 76.50 101 5.83 195.42 247 17.13 18.19 626 9.67 133.73 890 2.32 56 4.82 209.00 598 22.34 24.69 450 3.47 4.90 1428 - 11.39 786 5.95 259.30 823 11.39 72.00 150 3.88 20.50

76.00 196.00 19.19 136.00 2.40 217.44 25.92 5.05 11.68 261.99 72.99 20.85

75.52 192.00 19.19 133.00 2.20 203.90 24.50 4.85 11.30 260.00 71.01 20.80

Company

Paid up Cap(mn)

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin

PE

Open

High

Low

565 4.27 675 555 9.89 1199 11.97 785 11.08

27.20 2.64 15.60 58.39 9.86

27.39 2.69 16.51 59.00 10.50

27.30 2.55 15.66 57.35 9.55

Close Chg 27.35 2.60 15.83 57.44 9.75

0.15 -0.04 0.23 -0.95 -0.11

Close 1,078.14 Listed cap 3,596.11 mn Payout (%) 30.91

Change -7.24 Market cap 10,501.93 mn Div Yield (%) 8.95

Last 60 days High Low

Volume 10000 44508 54441 75840 5658

28.45 3.39 16.51 62.20 10.70

24.00 2.00 12.50 44.00 8.00

2010 Div BR (%) (%) 30 40 7.5

20B -

2011 Div BR (%) (%) -

Company

Paid up Cap(mn)

Adam Sugar 58 AL-Abbas Sugar 174 AL-Noor Sugar 186 Bawany Sugar 87 Chashma Sugar 287 Crescent Sugar 214 Dewan Sugar 365 Faran Sugar 217 Habib SugarSPOT 600 Habib-ADM Ltd 200 Ismail Ind 505 J D W Sugar 490 Mehran SugarSPOT 143 Mirpurkhas SugarXDXB 84 Mirza Sugar 141 Mitchell's Fruit 50 National Foods 414 Nestle Pakistan 453 Noon Sugar 165 Pangrio Sugar 109 Premier Sugar 38 Quice Food 107 S S Oil 57 Sakrand Sugar 223 Sanghar Sugar 119 Shahmurad Sugar 211 Shakarganj Mills 695 Sindh Abadgar 104 Tandlianwala 1177 Wazir Ali 80

PE

Close Chg

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Dadabhoy Cement Dandot Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Gharibwal Cement Haydery Const Javedan Cement Karam Ceramics Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete

PE

Open

High

Low

1828 866 6.58 858 182 982 13.85 948 3891 3651 125.58 350 3.39 6933 15.12 502 3.65 1760 77 2319 32 581 145 8.50 1288 13126 3234 6.72 5261 1.30 2228 200 -

3.37 62.81 2.80 22.40 1.87 3.39 2.21 30.48 2.89 5.01 7.10 1.75 1.90 7.70 0.70 59.12 7.80 6.60 3.29 75.13 2.84 7.01 7.00

3.35 63.00 2.99 23.25 1.90 3.00 2.34 30.89 2.88 5.11 7.05 1.83 2.50 8.08 0.77 59.00 6.80 6.79 3.38 75.80 2.95 7.07 6.50

3.11 62.01 2.61 21.60 1.75 2.80 2.10 30.10 2.40 4.95 7.00 1.75 1.55 7.14 0.55 56.17 6.80 6.49 3.22 74.60 2.80 6.95 6.50

Close 995.32 Listed cap 54,792.74 mn Payout (%) 19.04

Change -8.29 Market cap 71,136.40 mn Div Yield (%) 2.60

Close Chg

Volume

Last 60 days High Low

3.15 62.51 2.90 21.66 1.80 2.98 2.11 30.14 2.85 4.99 7.01 1.78 1.56 7.44 0.70 58.50 6.80 6.49 3.24 74.78 2.80 7.00 6.50

37527 25040 687 44733 2202 282 109004 3962131 780 281552 2000 45861 19443 8326 30061 13647 666 8159 258401 669750 375353 91470 500

3.98 65.99 4.24 24.16 2.49 3.49 3.10 32.10 3.99 5.55 8.20 2.25 5.00 9.19 1.08 63.05 11.50 8.70 3.79 79.98 3.30 8.58 7.50

-0.22 -0.30 0.10 -0.74 -0.07 -0.41 -0.10 -0.34 -0.04 -0.02 -0.09 0.03 -0.34 -0.26 0.00 -0.62 -1.00 -0.11 -0.05 -0.35 -0.04 -0.01 -0.50

2.80 57.60 1.10 14.12 1.31 1.11 1.40 24.84 2.27 4.70 4.25 1.60 1.18 2.70 0.42 56.05 5.00 5.80 2.71 69.20 2.66 6.52 5.25

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

2011 Div BR (%) (%) -

-

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,048.29 Turnover 1,464,228 P/E (x) 2.91 Company

Paid up Cap(mn)

Cherat Papersack ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films

PE

Open

115 2.82 76.35 230 2.70 1067 4.70 49.46 389 3.42 47 55.00 23.00 844 67.18 132.55 300 9.18 125.58

High

High Low 1,054.15 1,036.07 Total cos Defaulter cos P/BV (x) ROE (%) 1.28 43.91 Low

Close Chg

80.16 77.90 79.30 2.85 2.67 2.71 51.75 49.98 51.19 3.35 2.81 3.26 22.00 22.00 22.00 132.20 130.01 131.00 127.89 125.60 125.81

2.95 0.01 1.73 -0.16 -1.00 -1.55 0.23

Close 1,046.14 Listed cap 3,043.31 mn Payout (%) 15.55

Volume

Change -2.15 Market cap 39,375.55 mn Div Yield (%) 5.35

Last 60 days High Low

273302 83.23 94789 3.30 15478 61.10 15001 4.05 145 25.90 1042772 136.74 22642 128.70

34.00 1.82 45.30 1.60 15.10 100.50 98.10

2010 Div BR (%) (%) 20 25 -

25B 10B -

% Change -0.21 5-Day High 1,048.29 5-Day Low 1,032.36 2011 Div BR (%) (%) -

-

INDUSTRIAL ENGINEERING

Company

Paid up Cap(mn)

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

High Low 1,570.98 1,548.79 Total cos Defaulter cos P/BV (x) ROE (%) 3.26 38.02

PE

Open

High

Low

66 1.08 215 5.65 214 213 11.57 124 132 7.36 366 6.84 57 571.58

16.37 236.22 1.55 12.35 126.02 60.07 522.88 216.60

17.37 240.00 1.59 12.68 129.20 61.60 529.90 205.80

16.70 235.50 1.32 12.50 126.01 60.76 522.00 205.77

Close Chg 16.71 235.87 1.32 12.50 126.07 61.49 522.65 205.77

0.34 -0.35 -0.23 0.15 0.05 1.42 -0.23 -10.83

Close 1,551.06 Listed cap 1,336.62 mn Payout (%) 131.49

Volume 760 8076 5544 7558 1051 3877 89037 557

Change -5.86 Market cap 33,725.28 mn Div Yield (%) 15.31

Last 60 days High Low 19.85 240.00 2.40 14.80 147.89 80.00 529.90 324.80

14.12 200.00 0.21 10.55 113.06 58.81 437.31 205.77

2010 Div BR (%) (%) 150 650 100

25B -

Company Pak Elektron Singer Pak Tariq Glass Ind

Paid up Cap(mn)

Close 1,227.98 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change 0.27 Market cap 44,940.66 mn Div Yield (%) 4.56

Last 60 days High Low

200 6290 501 7927 80954 136821 102477 21403 14111 46630 12224 105

77.50 197.00 19.88 143.80 2.89 217.44 25.92 5.67 13.40 282.45 77.90 26.00

65.75 138.00 15.00 94.65 1.20 139.74 21.00 4.03 10.37 220.50 66.75 17.92

2010 Div BR (%) (%) 90 100 60 20 150 10

% Change 0.02 5-Day High 1,227.98 5-Day Low 1,195.54 2011 Div BR (%) (%)

20B 20B

-

-

High

High Low 1,694.91 1,655.27 Total cos Defaulter cos P/BV (x) ROE (%) 11.86 30.30 Low

Close Chg

Close 1,674.61 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change -13.78 Market cap 227,025.78 mn Div Yield (%) 0.78

Last 60 days High Low

404 20.50 11.26 7516 98.00 89.78 10097 53.02 41.00 4525 6.73 0.86 16730 15.47 8.50 1000 6.90 5.00 58556 5.59 1.25 170 21.73 18.75 163486 36.50 29.00 3500 13.35 11.69 501 81.12 68.60 5906 92.50 66.01 183 68.49 50.50 202 68.22 48.11 16884 7.18 4.20 864 89.90 61.50 2936 75.50 39.01 266 2550.00 1830.00 4206 14.84 9.03 2701 6.99 4.25 432 53.81 33.00 18000 3.40 2.02 1500 3.89 3.00 18500 3.90 2.11 9289 15.00 13.00 534 13.50 9.85 3964 7.88 3.90 176 11.20 4.75 4519 37.27 28.50 500 8.89 4.75

2010 Div BR (%) (%)

% Change -0.82 5-Day High 1,707.64 5-Day Low 1,674.61 2011 Div BR (%) (%)

25 50 50 10 25 25 25B 40 17.5 110R 7010B 12.5R 35 20B 15 20B 10 40 12 450 10 10 15 10 10 -

-

-

High Low 1,169.55 1,149.53 Total cos Defaulter cos P/BV (x) ROE (%) 0.35 10.64

Close 1,153.49 Listed cap 3,763.71 mn Payout (%) 6.27

Open

High

Low

Close Chg

Volume

1174 3.79 341 22.02 231 2.54

15.29 19.50 20.35

15.62 19.60 21.36

15.01 19.60 20.50

15.04 -0.25 19.60 0.10 21.21 0.86

212440 302 181257

Change -7.12 Market cap 5,245.14 mn Div Yield (%) 1.89

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

51.22

Total Assets (Rs in mn)

MA (10-day)

1.60

Total Equity (Rs in mn)

MA (100-day)

1.31

Revenue (Rs in mn)

1,267.53 173.16 2,098.98

MA (200-day)

1.49

Interest Expense

1st Support

1.50

Profit after Taxation

2nd Support

1.40

EPS 09 (Rs)

1st Resistance

1.70

Book value / share (Rs)

4.33

77.11

2nd Resistance

1.80

PE 10 E (x)

0.55

Pivot

1.60

PBV (x)

0.37

3.55 0.089

YOUW closed down -0.14 at 1.59. Volume was 584 per cent above average (trending) and Bollinger Bands were 8 per cent narrower than normal. The company's profit after taxation stood at Rs28.779 million which translates into an Earning Per Share of Rs0.72 for the 1st quarter of current fiscal year (1QFY11). YOUW is currently 1.9 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of YOUW at a relatively equal pace . Trend forecasting oscillators are currently bullish on YOUW.

First Punjab Modaraba

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

44.83

Total Assets (Rs in mn)

MA (10-day)

1.52

Total Equity (Rs in mn)

MA (100-day)

1.40

Revenue (Rs in mn)

MA (200-day)

1.34

Interest Expense

1st Support

1.21

Loss after Taxation

(90.83)

2nd Support

1.21

EPS 09 (Rs)

(2.670)

1st Resistance

1.25

Book value / share (Rs)

10.67

2nd Resistance

1.29

PE 10 E (x)

3,046.04

(0.38)

Pivot

1.25

PBV (x)

363.00 1,127.46 383.68

0.12

FPJM closed down -0.41 at 1.27. Volume was 39 per cent below average and Bollinger Bands were 18 per cent wider than normal.The company's Loss after taxation stood at Rs28.590 million which translates into an Loss Per Share of Rs0.84 for the 1st quarter of current fiscal year (1QFY11). FPJM is currently 5.9 per cent below its 200-day moving average and is in a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into FPJM (mildly bullish). Trend forecasting oscillators are currently bearish on FPJM.

Exide Pakistan Limited

Last 60 days High Low

2010 Div BR (%) (%)

15.62 20.79 21.40

17.5

12.90 16.51 15.90

10B -

% Change -0.61 5-Day High 1,160.62 5-Day Low 1,131.71 2011 Div BR (%) (%) -

-

PERSONAL GOODS Performance of SR Personal Goods Index Open 1,013.09 Turnover 6,350,166 P/E (x) 7.48 Company

Paid up Cap(mn)

AL-Qadir Textile 76 Amtex Limited 2594 Artistic Denim 840 Azam Textile 133 Azgard Nine 4493 Babri Cotton 33 Bannu Woolen XD 76 Bata (Pak) 76 Chenab Limited 1150 Colony Mills Ltd 2442 Crescent Jute 238 Crescent Textile 492 D S Ind Ltd 600 Dawood Lawrencepur 514 Dewan Farooque Spinning600 Dewan Khalid Textile 57 Dewan Mushtaq Textile 34 Din Textile 204 Ellcot Spinning 110 Faisal Spinning 100 Gadoon Textile XD 234 Ghazi Fabrics 326 Glamour Textile 116 Gul Ahmed Textile 635 H M Ismail 120 Hajra Textile 138 Hira Textile Mills Ltd. 716 Ibrahim Fibres 3105 Ideal Spinning 99 Idrees Textile 180 J K Spinning 184 Janana D Mal 43 Khurshid Spinning 132 Kohat Textile 208 Kohinoor Ind 303 Kohinoor Mills 509 Kohinoor Textile 1455 Mohd Farooq 189 Moonlite (PAK) 22 Mukhtar Textile 145 Nishat (Chunian) 1596 Nishat Mills 3516 Pak Synthetic 560 Paramount Spinning 174 Prosperity 185 Ravi Textile 250 Redco Textile 213 Reliance Weaving 308 Rupali Poly 341 Sally Textile 88 Saritow Spinning 133 Service Ind 120 Shadman Cot 176 Shahpur Textile 140 Shahtaj Textile 97 Thal Limited 307 Treet Corp 418 Yousuf Weaving 400 Zephyr Textile Ltd 594

PE

Open

7.50 9.55 4.19 6.46 22.90 0.37 2.81 9.60 0.46 10.38 0.47 13.50 5.28 642.71 3.08 3.91 2.46 1.00 4.52 23.05 1.75 51.08 43.25 3.23 3.61 0.17 2.28 0.15 5.00 0.54 26.50 0.64 20.50 0.85 33.01 0.75 68.20 0.72 4.00 0.38 7.50 4.45 30.10 1.10 0.59 0.73 4.00 3.67 45.96 0.68 7.74 3.86 3.65 0.91 6.02 0.25 14.00 1.50 0.53 1.00 1.67 2.64 4.06 5.75 1.25 - 10.16 0.82 1.95 23.65 5.84 68.14 3.42 10.26 0.75 10.00 1.10 15.30 1.53 0.99 0.62 9.01 4.70 37.65 0.22 4.02 0.33 2.00 7.86 233.54 2.00 10.00 0.58 0.49 - 19.25 5.43 127.76 9.65 60.63 0.55 1.73 5.78 3.85

High

High Low 1,023.67 1,006.07 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 8.64 Low

Close Chg

7.50 6.55 7.01 -0.49 4.28 4.15 4.20 0.01 23.50 22.50 23.25 0.35 2.90 2.60 2.65 -0.16 9.74 9.46 9.50 -0.10 11.38 10.25 11.35 0.97 13.60 13.25 13.28 -0.22 655.00 636.00 636.71 -6.00 3.14 3.08 3.08 0.00 2.50 2.37 2.50 0.04 1.24 1.00 1.14 0.14 23.50 23.50 23.50 0.45 1.86 1.71 1.71 -0.04 44.48 43.30 43.42 0.17 4.00 3.10 4.00 0.39 2.20 2.20 2.20 -0.08 4.99 4.30 4.99 -0.01 25.41 25.35 25.38 -1.12 21.00 20.25 20.99 0.49 34.65 33.25 34.55 1.54 69.50 66.15 69.00 0.80 4.40 4.40 4.40 0.40 7.50 7.50 7.50 0.00 31.00 30.00 31.00 0.90 0.56 0.52 0.52 -0.58 0.74 0.60 0.74 0.15 3.95 3.73 3.91 -0.09 47.50 45.95 46.67 0.71 8.74 6.75 8.00 0.26 3.67 3.55 3.55 -0.10 6.20 6.00 6.00 -0.02 15.00 14.60 15.00 1.00 1.50 1.50 1.50 0.00 1.00 1.00 1.00 0.00 1.75 1.50 1.65 -0.02 2.12 2.12 2.12 -0.52 5.89 5.31 5.69 -0.06 1.75 1.25 1.25 0.00 11.16 9.20 11.16 1.00 0.82 0.82 0.82 0.00 24.24 23.40 23.50 -0.15 69.49 67.72 67.98 -0.16 10.50 10.10 10.11 -0.15 10.25 10.00 10.25 0.25 14.95 14.35 14.35 -0.95 1.57 1.42 1.54 0.01 0.60 0.60 0.60 -0.39 9.39 8.80 8.84 -0.17 37.50 37.45 37.45 -0.20 4.50 4.00 4.50 0.48 2.45 1.02 2.00 0.00 235.20 228.80 229.68 -3.86 11.00 10.99 11.00 1.00 0.43 0.40 0.42 -0.07 19.21 19.00 19.15 -0.10 129.85 126.00 127.14 -0.62 62.40 60.50 60.59 -0.04 1.70 1.50 1.59 -0.14 4.50 3.90 4.39 0.54

Close 1,011.96 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change -1.13 Market cap 136,892.67 mn Div Yield (%) 2.23

Last 60 days High Low

3000 8.50 218553 12.30 11101 24.59 12581 3.45 1477349 12.32 18000 17.85 4002 14.50 341 747.48 20000 3.90 4050 3.33 38596 1.38 300 23.99 26018 2.37 9959 47.00 600 8.00 500 3.75 194 7.44 1032 27.54 623 22.20 301 36.75 3638 71.40 500 5.05 500 8.25 601 31.50 9610 1.39 736 1.10 7675 4.88 313682 47.50 30867 8.74 4301 4.45 4550 9.50 4309 20.50 500 3.00 9101 1.50 399 2.00 2576 3.72 1812 5.97 2190 2.08 2475 11.16 500 0.95 1246496 25.14 2399088 69.49 22152 10.50 8000 11.25 651 19.25 14019 1.99 500 1.45 11543 11.69 101 38.10 983 6.20 4013 2.99 4526 276.50 473 14.00 1503 1.01 1010 21.90 40340 132.00 303360 63.30 38384 2.00 5002 4.90

2010 Div BR (%) (%)

3.00 10 4.00 30 19.10 20 1.32 7.5 9.20 8.10 10.82 20 436.00 3.00 2.17 0.16 17.89 15 1.49 36.10 5 3.00 0.85 1.80 20.80 20 17.21 35 29.00 50 38.30 70 2.55 10 7.50 21.50 12.5 0.39 0.30 3.35 10 34.05 20 2.85 2.60 10 4.05 20 13.25 1.00 0.51 1.10 1.52 4.82 0.50 4.50 0.14 17.82 15 48.91 25 5.16 7.65 10 12.51 30 1.26 0.55 8.01 25SD 31.25 40 3.57 10 1.02 169.00 7.00 0.18 15.61 45 86.50 80 37.50 0.86 2.35 -

15B 10B 5B 45R 10B 20B -

% Change -0.11 5-Day High 1,013.09 5-Day Low 1,007.63 2011 Div BR (%) (%) -

-

PHARMA AND BIO TECH Performance of SR Pharma and Bio Tech Index Open 989.01 Turnover 91,374 P/E (x) 7.80

2011 Div BR (%) (%) -

-0.98 -0.27 1.00 -0.23 -0.05 -4.81 1.23 0.10 -0.03 1.17 -0.46 0.30

PE

% Change -0.38 5-Day High 1,556.93 5-Day Low 1,536.59

-

-

HOUSEHOLD GOODS

Performance of SR Industrial Engineering Index Open 1,556.93 Turnover 116,461 P/E (x) 8.59

Open

Open 1,160.62 Turnover 394,001 P/E (x) 3.32

-

% Change -0.83 5-Day High 1,006.96 5-Day Low 995.32

-

Performance of SR Household Goods Index

Performance of SR Construction and Materials Index High Low 1,013.93 986.71 Total cos Defaulter cos P/BV (x) ROE (%) 0.52 7.10

75.52 195.15 19.19 133.50 2.27 204.19 25.92 5.00 11.36 260.47 71.54 20.80

1.21 19.44 19.50 19.50 19.50 0.06 8.30 94.50 98.00 89.78 97.93 3.43 3.70 50.46 52.39 50.61 50.71 0.25 5.00 5.89 4.07 5.00 0.00 1.09 11.08 11.00 10.75 10.80 -0.28 5.50 5.25 5.25 5.25 -0.25 4.02 4.10 3.85 3.87 -0.15 4.02 20.24 20.30 20.00 20.00 -0.24 7.41 33.21 33.50 32.85 32.97 -0.24 11.43 12.10 12.39 12.34 12.34 0.24 34.11 74.79 76.40 76.20 76.40 1.61 3.11 88.00 89.48 87.30 87.75 -0.25 3.51 58.73 59.90 58.50 59.50 0.77 4.38 50.51 52.51 50.60 52.51 2.00 0.62 6.00 6.27 6.00 6.15 0.15 9.31 86.10 89.90 82.38 85.88 -0.22 22.46 60.36 62.00 59.00 60.18 -0.18 26.89 2471.66 2485.00 2440.00 2448.06 -23.60 9.20 10.00 9.55 9.71 0.51 0.91 6.16 6.25 6.20 6.24 0.08 4.57 46.49 47.99 44.17 46.98 0.49 2.53 2.80 2.50 2.70 0.17 0.29 3.21 3.50 3.20 3.40 0.19 1.34 3.09 3.00 2.76 2.79 -0.30 1.28 14.44 14.40 14.25 14.40 -0.04 6.80 10.10 10.40 10.02 10.40 0.30 5.93 6.69 5.31 5.40 -0.53 5.28 11.00 11.00 10.98 10.98 -0.02 311.82 35.50 37.27 34.30 34.30 -1.20 8.40 7.78 7.78 7.78 -0.62

CONSTRUCTION AND MATERIALS Open 1,003.61 Turnover 5,987,089 P/E (x) 7.31

2011 Div BR (%) (%)

-

FOOD PRODUCERS Open 1,688.39 Turnover 358,796 P/E (x) 39.15

-

% Change -0.67 5-Day High 1,089.97 5-Day Low 1,078.14

40 15

Performance of SR Food Producers Index

Performance of SR Industrial Metals and Mining Index High Low 1,104.22 1,073.26 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 33.10

2010 Div BR (%) (%)

Performance of SR Automobile and Parts Index

INDUSTRIAL METALS AND MINING Open 1,085.38 Turnover 190,447 P/E (x) 3.46

% Change -0.01 5-Day High 737.35 5-Day Low 719.12

AUTOMOBILE AND PARTS

Company

High Low 1,498.12 1,467.17 Total cos Defaulter cos P/BV (x) ROE (%) 3.21 35.00

Bawany Air 68 61.67 8.34 Biafo Ind 200 5.54 53.31 BOC (Pak) 250 13.68 101.16 Clariant Pak 273 7.48 187.07 Dawood Hercules 1203 8.37 199.25 Descon Chemical 1996 3.07 Descon Oxychem Ltd. 1020 8.21 Dewan Salman 3663 3.28 Dynea Pak 94 - 11.00 Engro Corporation Ltd 3277 11.43 201.55 Engro Polymer 6635 - 15.24 Fatima Fertilizer 22000 - 11.21 Fauji Fertilizer 6785 9.63 132.10 Fauji Fert.Bin Qasim 9341 7.29 38.44 Gatron Ind 384 2.42 43.69 Ghani Gases Ltd 725 9.46 12.83 ICI Pakistan 1388 8.33 150.38 Ittehad Chemical 360 11.49 32.41 Lotte Pakistan 15142 5.24 14.73 Mandviwala 74 1.77 Nimir Ind Chemical 1106 2.03 Shaffi Chemical 120 2.40 Sitara Chem Ind 214 10.04 124.47 Sitara Peroxide 551 14.40 13.15 Wah-Noble 90 6.93 36.48

Yousuf Weaving Mills Limited

Performance of SR Industrial Transportation Index

Close Change 1,613.38 -15.39 Listed cap Market cap 65,194.15 mn 1,249,991.49 mn Payout (%) Div Yield (%) 55.94 4.77

Performance of SR Chemicals Index Open 1,464.06 Turnover 41,642,981 P/E (x) 9.18

Alert ! Unusual Movements

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,628.77 Turnover 10,691,748 P/E (x) 11.73

KSE 30 Index

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

Paid up Cap(mn) 979 250 1707 165 100 96 306

PE

Open

9.48 108.50 6.65 88.49 15.29 85.38 8.16 29.86 7.97 34.00 11.12 143.50 5.65 62.51

High

High Low 1,002.50 978.09 Total cos Defaulter cos P/BV (x) ROE (%) 1.74 22.31 Low

Close Chg

110.20 108.00 108.16 90.50 88.00 88.08 86.38 84.76 84.99 30.48 29.26 29.46 35.70 33.51 35.69 143.99 139.00 139.78 64.00 61.00 62.86

-0.34 -0.41 -0.39 -0.40 1.69 -3.72 0.35

Close 984.77 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 12538 5887 24637 7469 338 108 40338

112.50 113.00 89.98 30.48 35.70 146.40 64.50

89.88 82.20 68.06 23.50 27.50 116.00 59.00

62.82

Total Assets (Rs in mn)

MA (10-day)

198.06

Total Equity (Rs in mn)

MA (100-day)

156.18

Revenue (Rs in mn)

2,036.59 725.96 5,630.39

MA (200-day)

169.22

Interest Expense

1st Support

199.56

Profit after Taxation

118.21

2nd Support

194.96

EPS 09 (Rs)

21.867

1st Resistance

213.10

Book value / share (Rs)

134.30

82.52

2nd Resistance

222.04

PE 10 E (x)

Pivot

208.50

PBV (x)

1.52

EXIDE closed down -4.81 at 204.19. Volume was 4,007 per cent above average (trending) and Bollinger Bands were 0 per cent narrower than normal. The company's profit after taxation stood at Rs119.634 million which translates into a profit Per Share of Rs21.17 for the half year of current fiscal year (1HFY10). EXIDE is currently 18.7 per cent above its 200-day moving average and is displaying an upward 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 EXIDE at a relatively equal pace. Trend forecasting oscillators are currently bullish on EXIDE

Silkbank Limited

Fundamental Highlights As on Dec 30, 2009

Technical Analysis RSI (14-day)

65.37

Total Assets (Rs in mn)

MA (10-day)

2.68

Total Equity (Rs in mn)

MA (100-day)

2.72

Revenue (Rs in mn)

5,913.32

MA (200-day)

2.95

Interest Expense

68,664.34

5,855.52

1st Support

2.85

Loss after Taxation

2nd Support

2.73

EPS 09 (Rs)

1st Resistance

3.07

Book value / share (Rs)

2nd Resistance

3.17

PE 10 E (x)

Pivot

2.95

PBV (x)

196.91

(2,902.91) (3.224) 0.22 13.40

SILK closed up 0.12 at 2.93. Volume was 917 per cent above average (trending) and Bollinger Bands were 4 per cent narrower than normal. The company's loss after taxation stood at Rs700.335 billion which translates into a Loss Per Share of Rs0.32 for the nine months of current calendar year (9MCY10). SILK is currently 0.7 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 SILK (bullish). Trend forecasting oscillators are currently bullish on SILK

BOOK CLOSURES Company

From

To

BOC Pakistan Buxly Paints # TRG Pakistan Shadman Cotton Mills # Kohinoor Mills # Mybank Ltd. # Summit Bank # Ellcot Spin Mills # Prosperity Weaving Mills # Mehran Sugar Mills Dawood Lawrencepur # Habib Sugar Mills Lakson Tobacco # Haseeb Waqas Sugar Mills Nagina Cotton Mills # Sanghar Sugar Mills Sindh Abadgar's Sugar Mills Shahtaj Sugar Mills Shahmurad Sugar Mills Fecto Sugar Mills

11-Jan 11-Jan 12-Jan 12-Jan 13-Jan 13-Jan 13-Jan 14-Jan 14-Jan 14-Jan 15-Jan 15-Jan 18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 20-Jan 22-Jan 22-Jan

17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 25-Jan 31-Jan 28-Jan 1-Feb 2-Feb 29-Jan

D/B/R 25.25(B) 10-Jan 15-Jan 10-Jan 10-Jan -

Spot AGM/Date 7-Jan 10-Jan 11-Jan 14-Jan -

17-Jan 19-Jan 20-Jan 18-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 21-Jan 21-Jan 29-Jan 25-Jan 25-Jan 25-Jan 31-Jan 28-Jan 27-Jan 28-Jan 29-Jan

INDICATIONS

Change -4.24 Market cap 33,044.88 mn Div Yield (%) 5.71

Last 60 days High Low

Fundamental Highlights As on Mar 30, 2009

Technical Analysis RSI (14-day)

2010 Div BR (%) (%) 20 30

20B -

% Change -0.43 5-Day High 994.18 5-Day Low 979.33 2011 Div BR (%) (%) 15 -

-

# Extraordinary General Meeting

OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Grays of Cambridge Pak Tobacco Shifa Int.Hospitals Eye Television Media Times Ltd P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies Pak Telephone

Open 52.1 3.31 92.99 122.51 49.85 114.95 31.39 24 44.1 2.4 48.93 2.47 20.17 2.2

High 54 3.45 93.99 128.63 51 120 32.5 24.5 45.5 2.5 49.98 2.57 20.59 2.15

Low Close 52.2 3.2 91 128.6 48.55 111 30.75 24.49 41.9 2.38 47.1 2.48 20.15 2.05

53 3.24 91.07 128.63 48.6 111.07 31.64 24.49 45.5 2.41 49.49 2.53 20.21 2.15

Change 0.9 -0.07 -1.92 6.12 -1.25 -3.88 0.25 0.49 1.4 0.01 0.56 0.06 0.04 -0.05

Vol 4062 1523047 17644 41049 103 4182 625 306 177 37502 264 590181 787321 1051


7

Tuesday, January 11, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,147.68 Turnover 2,226,080 P/E (x) 6.24 Paid up Cap(mn)

Company

Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd

High Low 1,162.48 1,138.69 Total cos Defaulter cos P/BV (x) ROE (%) 0.80 12.84

PE

Open

High

Low

Close Chg

78 4.94 37740 12.96 3000 0.65 8606 6175 -

79.00 19.50 2.17 2.71 3.54

80.00 19.72 2.25 2.77 3.60

79.98 19.38 2.15 2.61 3.50

80.00 19.44 2.19 2.63 3.50

1.00 -0.06 0.02 -0.08 -0.04

Close 1,143.09 Listed cap 50,077.79 mn Payout (%) 62.56

Last 60 days High Low

Volume 3600 1393519 575172 253789 168209

Change -4.59 Market cap 79,075.29 mn Div Yield (%) 10.03

106.00 20.12 2.69 3.45 4.25

76.50 18.21 2.11 2.40 3.35

% Change -0.40 5-Day High 1,150.11 5-Day Low 1,136.29

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

2011 Div BR (%) (%)

-

-

Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Silver Star Insurance Universal Insurance

204 6.36 369 6.20 279 8.40 457 7.13 1250 400 3.54 718 17.44 791 15.63 3000 42.69 250 1.73 350 303 6.63 252 4.26 253 4.24 263 -

-

Paid up Cap(mn)

Company

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

PE

Open

High

Low

198 11572 7.14 1560 7932 1695 10.44 126 2.87 8803 5.35 3673 3.74 3541 27.76 191 3.58 1367 150 -

0.85 38.05 1.73 3.16 19.78 4.60 42.79 17.07 17.30 18.95 2.21 1.05

0.98 39.49 1.74 3.28 19.84 5.38 44.25 17.48 17.65 19.20 2.39 1.00

0.81 38.00 1.70 3.00 18.78 4.25 43.00 16.90 17.15 18.65 2.20 0.91

Close 1,349.02 Listed cap 95,369.29 mn Payout (%) 104.13

Change 22.81 Market cap 110,721.34 mn Div Yield (%) 6.86

Close Chg

Volume

Last 60 days High Low

0.82 38.98 1.72 3.07 18.80 4.70 44.00 17.04 17.21 19.20 2.22 1.00

6301 3181584 90433 5523748 37816 23076 2981819 879490 692261 2501 367199 16999

1.45 39.49 2.25 3.55 25.25 5.50 44.25 17.50 17.75 21.85 2.80 1.75

-0.03 0.93 -0.01 -0.09 -0.98 0.10 1.21 -0.03 -0.09 0.25 0.01 -0.05

0.60 32.97 1.33 2.01 17.95 4.01 38.35 11.40 12.30 17.98 2.05 0.71

% Change 1.72 5-Day High 1,349.02 5-Day Low 1,323.38

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

2011 Div BR (%) (%)

7.8R -

-

-

10.50 38.10 70.75 11.40 42.50 14.60 93.26 56.70 16.47 7.26 8.05 12.25 6.57 6.81 3.65

10.50 39.00 73.94 11.41 42.82 14.88 94.00 57.98 16.65 7.32 9.25 12.26 6.94 6.83 3.65

-0.50 0.50 3.52 -0.34 0.20 -0.06 0.79 -0.27 0.30 -0.08 0.26 -0.22 0.34 0.02 -0.34

21525 1501 8269 13573 77388 3600 5730 2101 2143898 1000 59793 17557 1471 19900 500

12.75 39.90 73.94 12.00 48.63 15.39 99.88 60.90 17.20 8.50 9.50 12.85 7.70 8.17 4.00

10.00 28.81 48.95 9.45 35.60 10.15 72.01 52.75 13.61 5.56 2.00 8.00 6.15 6.01 2.21

Open 855.49 Turnover 9,120 P/E (x) 6.47 Paid up Cap(mn)

High Low 861.13 843.98 Total cos Defaulter cos P/BV (x) ROE (%) 3.71 3.85

Close 856.93 Listed cap 2,290.72 mn Payout (%) 355.53

Open 1,563.94 Turnover 219,686 P/E (x) 9.81 Company

High Low 1,581.28 1,529.74 Total cos Defaulter cos P/BV (x) ROE (%) 1.12 11.41

Close 1,552.10 Listed cap 12,202.80 mn Payout (%) 66.79

Change -11.84 Market cap 33,181.85 mn Div Yield (%) 6.81

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 8390

8.05 3.29

27.48 21.89

27.68 22.19

26.90 21.40

27.06 -0.42 21.84 -0.05

37891 181795

34.75 30.00

Sui North Gas Sui South Gas

25.71 19.95

% Change -0.76 5-Day High 1,570.26 5-Day Low 1,537.18

2010 Div BR (%) (%) 20 15

2011 Div BR (%) (%)

25B

-

-

BANKS Performance of SR Banks Index Open 1,192.35 Turnover 35,097,182 P/E (x) 8.51 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 6.90 71.85 Askari Bank 6427 8.43 17.70 Bank Alfalah 13492 14.03 11.12 Bank AL-Habib 7322 8.11 37.40 Bank Of Khyber 5004 5.64 4.21 Bank Of Punjab 5288 9.93 BankIslami Pak 5280 957.50 4.02 Faysal Bank 7309 4.88 15.24 Habib Bank Ltd 10019 7.72 124.99 Habib Metropolitan Bank 8732 8.81 28.50 JS Bank Ltd 8150 2.45 KASB Bank Ltd 9509 2.43 MCB Bank Ltd 7602 9.95 225.99 Meezan Bank 6983 10.07 19.68 Mybank Ltd 5304 2.65 National Bank 13455 6.73 77.65 NIB Bank 40437 3.17 Samba Bank 14335 2.06 Silkbank Ltd 26716 2.81 Soneri Bank 6023 7.80 Stand Chart Bank 38716 12.92 8.64 Summit Bank Ltd 5000 3.81 United Bank Ltd 12242 7.83 67.15

High Low Close 1,207.77 1,178.32 1,185.01 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.19 13.94 40.49

High

Low

Close Chg

72.00 70.00 70.95 -0.90 17.98 17.54 17.71 0.01 11.29 10.91 10.94 -0.18 37.74 37.20 37.64 0.24 4.40 4.23 4.23 0.02 10.23 9.56 9.65 -0.28 4.20 3.80 3.83 -0.19 15.50 15.05 15.13 -0.11 126.80 123.00 123.56 -1.43 28.98 28.50 28.80 0.30 2.61 2.47 2.57 0.12 2.60 2.45 2.47 0.04 228.00 223.50 224.44 -1.55 20.20 19.00 19.04 -0.64 2.83 2.70 2.71 0.06 78.41 77.00 77.10 -0.55 3.35 3.05 3.09 -0.08 2.08 2.00 2.02 -0.04 3.05 2.83 2.93 0.12 7.91 7.85 7.85 0.05 8.55 8.40 8.40 -0.24 3.87 3.71 3.76 -0.05 68.05 66.20 66.63 -0.52

Volume

Change -7.34 Market cap 716,944.81 mn Div Yield (%) 4.76

Last 60 days High Low

36623 72.99 633951 18.10 2169833 11.52 191170 37.74 7075 4.70 3388192 10.59 185316 4.20 134970 17.10 166214 126.80 136062 29.28 96158 3.00 59829 2.90 571792 232.00 50711 20.30 87462 3.10 4330003 78.41 3965628 3.35 90265 2.65 17571711 3.05 38335 8.48 10500 9.04 88365 4.23 1175382 70.65

52.00 14.50 8.70 31.44 2.76 8.04 2.77 13.50 97.20 19.00 2.25 2.16 193.70 14.50 1.90 63.53 2.59 1.51 2.50 5.62 6.15 2.60 52.00

% Change -0.62 5-Day High 1,192.35 5-Day Low 1,184.74

2010 Div BR (%) (%)

-

-

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 785.61 Turnover 4,278,535 P/E (x) 12.99 Paid up Cap(mn)

Company Adamjee Insurance

PE

1237 26.01

Open 88.91

High Low 804.67 782.68 Total cos Defaulter cos P/BV (x) ROE (%) 0.68 5.20

High 91.29

Low 89.00

Close Chg 89.72 0.81

Close 791.75 Listed cap 11,111.34 mn Payout (%) 79.54

Volume 1900729

Change 6.14 Market cap 48,836.79 mn Div Yield (%) 6.12

Last 60 days High Low 91.75

65.55

% Change 0.78 5-Day High 791.75 5-Day Low 777.95

2010 Div BR (%) (%) 10

2011 Div BR (%) (%)

-

-

-

-

UP TO 100 VOLUME

-

Symbols SAPT SIEM COLG IDYM ULEVER SHJS WYETH SFL HUSS CSUML HWQS IBLHL FZTM CLOV LAKST RMPL RCML MUBT TICL CHCC IDEN FECS CWSM JUBS PGCL UPFL FCONM AWTX LEUL GVGL GUSM DSML BAFS COTT KOHS BUXL STCL FDMF TSMF GRYL ICIBL ESBL ALICO EWLA DWTM FZCM GSPM MQTM PRET SALT SNAI SRSM SUTM TATM HUSI BTL BCL BWHL TREI JOPP ZIL ARPAK DIIL PHDL PSEL

% Change 0.17 5-Day High 874.01 5-Day Low 855.49

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

EFU Life Assurance

850 42.05

74.50

75.00

73.90

74.00 -0.50

8300

86.95

61.00

-

-

-

-

New Jub Life Insurance

627 28.29

42.00

42.15

41.10

42.15 0.15

818

49.31

39.95

-

-

-

-

Company

2010 Div BR (%) (%)

2011 Div BR (%) (%)

FINANCIAL SERVICES Performance of SR Financial Services Index Open 405.17 Turnover 2,801,847 P/E (x) 11.52 Company

Paid up Cap(mn)

High Low 412.00 400.54 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 0.91

PE

Open

High

Low

AMZ Ventures 225 1.59 Arif Habib Investments 360 3.58 Arif Habib Limited 450 13.34 Arif Habib Corp 3750 4.82 Dawood Cap Mangt. XB 150 1.55 Dawood Equities 250 First Credit & Invest Bank Ltd 650 12.63 First National Equity 575 IGI Investment Bank 2121 17.94 Invest and Fin Sec 600 700.00 Ist Cap Securities 3166 Ist Dawood Bank 626 0.67 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap 500 7.54 JS Investment 1000 27.88 KASB Securities 1000 Orix Leasing 821 4.57 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Stand Chart Leasing 978 5.23 Trust Brokerage 100 Trust Inv Bank 586 2.67

0.68 17.72 26.06 26.63 1.93 1.75 3.02 8.69 2.90 7.00 3.13 1.88 11.07 4.01 28.00 6.73 4.61 6.20 2.08 0.68 2.85 3.25 1.75

0.75 18.50 26.79 27.00 1.90 2.45 3.25 7.80 2.90 7.10 3.44 1.90 11.28 4.15 28.10 6.80 4.90 6.37 2.19 0.70 2.51 3.00 1.76

0.68 18.00 26.05 26.14 1.35 1.81 3.03 7.69 2.80 6.80 3.06 1.88 10.90 3.90 27.61 6.63 4.75 6.22 2.01 0.67 2.50 2.25 1.70

Close Chg

Close 403.21 Listed cap 30,336.44 mn Payout (%) 99.56

Volume

Change -1.96 Market cap 18,822.79 mn Div Yield (%) 3.37

0.70 18.20 26.14 26.24 1.74 1.94 3.03 7.71 2.87 7.00 3.10 1.88 10.99 3.92 28.05 6.69 4.84 6.22 2.05 0.67 2.51 2.93 1.71

0.02 0.48 0.08 -0.39 -0.19 0.19 0.01 -0.98 -0.03 0.00 -0.03 0.00 -0.08 -0.09 0.05 -0.04 0.23 0.02 -0.03 -0.01 -0.34 -0.32 -0.04

55849 72197 72010 1476890 351 504 1000 930 39115 65303 34572 1101 2004229 177625 11834 89176 46268 2943 74846 25003 2500 14501 10986

% Change -0.48 5-Day High 405.88 5-Day Low 403.21

Last 60 days High Low

2010 Div BR (%) (%)

0.95 19.98 28.95 27.02 2.14 2.69 4.50 10.70 3.90 8.88 4.80 2.40 14.05 5.38 32.37 7.59 5.43 7.29 2.70 0.97 3.00 3.75 2.98

30 11.5 10 -

0.33 14.90 24.40 22.10 1.05 1.28 2.15 6.84 1.50 6.16 3.00 1.05 8.85 2.16 24.25 5.50 3.50 4.70 1.46 0.46 2.25 1.70 1.24

20B 20B 10B -

2011 Div BR (%) (%) -

-

EQUITY INVESTMENT INSTRUMENTS Open 1,359.09 Turnover 2,193,069 P/E (x) 19.62 Company

Paid up Cap(mn)

1st Fid Leasing AL-Meezan Mutual F. AL-Noor Modaraba Atlas Fund of Funds B R R Guardian Mod. Crescent St Modaraba Equity Modaraba Golden Arrow H B L Modaraba Habib Modaraba I B L Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali NAMCO Balanced Fund Nat Bank Modaraba Pak Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Safeway Mutual Fund Stand Chart Modaraba U D L Modaraba

PE

264 1375 210 525 780 200 524 760 397 1008 202 3180 1186 283 1200 184 1000 250 125 1000 2835 2841 872 340 545 454 264

9.38 7.54 5.33 1.71 3.75 1.48 12.38 2.21 2.59 5.79 17.00 71.50 18.79 1.18 7.50 15.50 5.45 6.11 5.05 1.97 8.60 7.41 2.48 6.10 4.66 1.75

Open 1.59 9.05 3.25 4.60 1.62 0.57 2.00 3.10 7.62 6.66 2.85 5.72 5.12 1.61 7.80 1.55 3.85 6.10 1.01 6.91 13.26 6.56 1.08 1.68 6.01 9.60 6.06

High Low 1,377.65 1,347.87 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 2.21

High 1.72 9.15 3.25 4.55 1.84 0.60 2.15 3.16 8.10 6.94 2.22 5.82 5.38 1.60 7.80 1.65 3.70 6.70 1.13 6.99 13.71 6.74 1.09 1.29 6.11 9.50 6.25

Low 1.50 9.00 3.20 4.25 1.62 0.57 1.88 3.10 7.75 6.68 1.86 5.62 5.15 1.60 7.80 1.55 3.49 6.60 1.00 6.79 13.30 6.45 1.00 1.25 6.10 9.49 6.10

Close Chg 1.50 9.05 3.20 4.25 1.65 0.59 1.98 3.10 7.76 6.72 1.87 5.72 5.26 1.60 7.80 1.55 3.49 6.60 1.01 6.79 13.41 6.52 1.09 1.27 6.10 9.50 6.15

-0.09 0.00 -0.05 -0.35 0.03 0.02 -0.02 0.00 0.14 0.06 -0.98 0.00 0.14 -0.01 0.00 0.00 -0.36 0.50 0.00 -0.12 0.15 -0.04 0.01 -0.41 0.09 -0.10 0.09

Close 1,355.60 Listed cap 29,771.58 mn Payout (%) 104.74

Change -3.49 Market cap 18,192.72 mn Div Yield (%) 8.29

Last 60 days High Low

Volume 510 159850 200 120539 20314 10642 141809 79321 9075 5928 2101 468328 468396 200 5000 13006 20000 700 510 37052 385444 195372 7864 9762 10000 2600 18539

2.00 9.15 3.80 4.80 2.79 1.10 2.37 3.80 8.49 7.00 3.69 5.89 5.38 2.23 8.25 2.18 4.24 7.74 2.00 7.18 13.71 6.74 1.19 2.54 8.49 10.29 6.99

1.05 5.85 2.10 2.70 0.90 0.16 1.03 2.56 5.11 5.80 1.06 2.65 2.31 1.26 5.15 0.56 2.40 4.50 0.30 4.90 7.90 3.50 0.81 0.50 5.01 7.85 4.71

Symbols

% Change -0.26 5-Day High 1,359.09 5-Day Low 1,343.21

2010 Div BR (%) (%) 18.5 5 2.2 0 1.2 17 11 21 3 5 10 2.8 15.5 15 10 3 10 20 10 3 1 18.2 17 12.5

Open

High

109.00 1234.90 935.80 254.06 4353.80 62.05 1050.00 120.00 9.86 3.28 22.00 8.30 413.61 74.00 298.48 2090.30 36.85 1.20 62.89 10.85 13.50 46.55 1.39 3.49 24.70 1110.45 1.27 89.00 2.47 26.50 6.48 2.75 61.40 1.27 5.00 13.80 8.50 2.00 1.49 2.02 0.62 2.69 17.50 2.85 8.77 72.19 7.64 8.75 28.21 64.30 47.06 2.66 35.50 37.45 7.00 48.00 44.50 33.82 1.90 8.00 54.62 12.90 12.82 34.93 159.60

109.00 1216.00 950.00 242.00 4348.49 58.95 1031.00 125.00 10.78 3.60 22.50 8.30 422.00 77.50 296.50 2147.94 37.45 0.75 66.03 10.90 14.50 44.23 2.00 2.51 25.92 1120.00 1.47 89.00 1.82 27.80 7.25 3.49 59.75 1.01 5.95 14.00 8.50 2.10 1.49 1.46 0.87 2.80 18.40 2.85 9.77 75.78 7.01 8.90 29.50 65.29 46.50 2.65 35.50 38.00 7.39 47.25 43.00 32.13 2.19 8.01 56.89 11.90 11.85 34.00 164.99

Low

Close

109.00 1210.00 920.11 241.36 4243.01 58.95 1020.00 125.00 10.78 3.25 22.50 8.30 405.00 73.80 290.00 2041.00 37.45 0.75 65.49 10.90 14.50 44.23 1.02 2.49 25.48 1061.00 1.40 89.00 1.72 27.80 6.45 2.10 59.50 1.01 4.01 14.00 8.10 2.09 1.44 1.46 0.70 2.80 18.40 2.85 9.77 75.78 6.65 8.90 29.50 65.29 46.50 2.65 35.50 38.00 7.39 47.25 43.00 32.13 1.95 8.01 55.75 11.90 11.85 33.25 164.99

109.00 1216.00 920.11 241.39 4308.72 58.95 1030.85 125.00 10.78 3.60 22.50 8.30 414.90 75.10 296.50 2104.64 37.45 0.75 65.49 10.90 14.50 44.23 1.09 2.51 25.48 1090.50 1.40 89.00 1.82 27.80 6.45 2.56 59.50 1.01 4.01 14.00 8.30 2.09 1.44 1.46 0.70 2.80 18.40 2.85 9.77 75.78 7.01 8.90 29.50 65.29 46.50 2.65 35.50 38.00 7.39 47.25 43.00 32.13 1.95 8.01 55.75 11.90 11.85 34.00 164.99

Change

Vol

0.00 -18.90 -15.69 -12.67 -45.08 -3.10 -19.15 5.00 0.92 0.32 0.50 0.00 1.29 1.10 -1.98 14.34 0.60 -0.45 2.60 0.05 1.00 -2.32 -0.30 -0.98 0.78 -19.95 0.13 0.00 -0.65 1.30 -0.03 -0.19 -1.90 -0.26 -0.99 0.20 -0.20 0.09 -0.05 -0.56 0.08 0.11 0.90 0.00 1.00 3.59 -0.63 0.15 1.29 0.99 -0.56 -0.01 0.00 0.55 0.39 -0.75 -1.50 -1.69 0.05 0.01 1.13 -1.00 -0.97 -0.93 5.39

100 99 90 86 62 55 42 40 32 25 22 17 16 14 12 11 10 10 10 10 10 7 6 6 6 6 5 5 5 5 4 3 3 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS

Performance of SR Equity Investment Instruments Index

2011 Div BR (%) (%)

20 - 20B - 66R 55 -63.46R 10 -

25R 10B 20B -

Change 1.44 Market cap 9,982.97 mn Div Yield (%) 3.69

GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index

10 10 -

LIFE INSURANCE

ELECTRICITY High Low 1,372.74 1,319.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.42 9.35

11.00 39.00 73.94 11.95 43.60 14.90 95.50 57.99 17.08 7.32 9.50 12.78 6.94 7.25 4.00

Performance of SR Life Insurance Index

Performance of SR Electricity Index Open 1,326.22 Turnover 13,803,237 P/E (x) 15.18

11.00 38.50 70.42 11.75 42.62 14.94 93.21 58.25 16.35 7.40 8.99 12.48 6.60 6.81 3.99

-

High 211.40

Change

Vol

6.48 1595000

39.45

38.77

38.87

0.23 1174000

POL-JAN

321.19

327.15

321.50

322.82

1.63

852500

30.35

-0.23

565500

30.58

204.00

Close 209.26

38.64

NBP-JAN

31.00

78.08

30.30

77.62

-0.46

NML-JAN

68.05

69.00

67.71

67.91

-0.14

PSO-JAN

298.22

300.40

296.00

296.56

-1.66

209000

AICL-JAN

89.49

91.60

89.30

90.27

0.78

176000

PPL-JAN

226.38

228.10

224.00

224.38

-2.00

167500

9.63

9.72

9.56

9.56

-0.07

136000

ANL-JAN

-

Low

FFBL-JAN DGKC-JAN

2011 Div BR (%) (%) -

Open

ENGRO-JAN 202.78

78.90

77.50

435000 396000

BOP-JAN

9.90

10.15

9.20

9.66

-0.24

101500

FFC-JAN

132.77

137.99

133.30

133.62

0.85

83500

OGDC-JAN

180.22

183.00

176.10

177.22

-3.00

61000

LUCK-JAN

75.57

75.70

74.95

75.10

-0.47

58500

MCB-JAN

226.89

228.14

225.00

225.68

-1.21

54500

UBL-JAN

67.33

68.20

66.90

67.06

-0.27

49500

PTC-JAN

19.33

19.71

19.71

19.71

0.38

500

ZERO VOLUME Symbols

Open

High

Low

Close

AASM

38.99

37.05

37.05

37.05

ALTN ANSS

9.10

9.37

5.00

9.37

5.10

5.10

Change

Vol

-1.94

0.00

0.27

0.00

0.10

0.00

9.37 5.10

DATM

0.54

0.51

0.51

0.51

-0.03

0.00

KHTC

34.39

36.10

36.10

36.10

1.71

0.00

KOSM

1.30

1.29

1.29

1.29

-0.01

0.00

KSTM

0.96

0.91

0.91

0.91

-0.05

0.00

MEHT

60.00

59.00

59.00

59.00

-1.00

0.00

NMBL

1.79

1.75

1.75

1.75

-0.04

SAIF

4.50

4.49

4.49

4.49

-0.01

SANE

6.00

5.49

5.49

5.49

-0.51

0.00

SHDT

13.60

13.49

13.49

13.49

-0.11

0.00

SKFL

1.74

1.65

1.65

1.65

-0.09

SMTM

5.99

5.95

5.95

5.95

-0.04

STML

23.73

23.00

23.00

23.00

-0.73

0.00

SURC

38.09

38.10

38.10

38.10

0.01

0.00

TOWL

4.90

4.92

4.92

4.92

0.02

0.00

0.00 0.00

0.00 0.00

BOARD MEETINGS

Fauji Fertiliser Bin Qasim Ltd

KSE 100 INDEX

National Bank of Pakistan

Engro Corporation

Company

Date

Time

Atlas Income Fund Nadeem Textile Mills Ltd Fauji Fertilizer Bin Qasim Ltd Unilever Pakistan Limited Kot Addu Power Company Ltd Unilever Pakistan Foods Ltd

11-Jan 11-Jan 25-Jan 14-Feb 16-Feb 17-Feb

2.15 5.00 10.30 2.30 12.30 2.30

TECHNICAL LEVELS Company Al-Abbas Cement

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

72.75

Support 1

12,201.95

MA (5-day)

12,254.06

Support 2

12,097.15

MA (10-day)

12,090.78

Resistance 1

12,473.65

MA (100-day)

10,684.78

Resistance 2

12,640.55

10,384.87

Pivot

AKD Securities Ltd

resistance level at 12,473.65 and 2nd resistance level at 12,640.55, while Index will continue to find its 1st support level at 12,201.95 and 2nd sup-

34.7

Sell

*Arif Habib Ltd

Accumulate

AKD Securities Ltd

32.06

TFD Research

29.1

Negative

Brokerage House

TFD Research

Technical Outlook Technical Analysis

Rs Recommendations

176

Sell

*Arif Habib Ltd

238.8

Buy

AKD Securities Ltd

208.75

Free Float Shares (mn) 326.94 Free Float Rs (mn) 12,636.17 ** NOI Rs (mn) 91.84 Mean 38.72

* Target price for Jun-11 & **Net Open Interest in future market

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

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

Rs Recommendations 82.1

61.96

Buy

Neutral

92.3

Positive

Technical Outlook

Leverage Position

69.74 195.64 180.79 185.44

Fair Value

TFD Research

Neutral

147.48 30,676.17 291.71 205.75

* Target price for Jun-11 & **Net Open Interest in future market

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

68.02 75.88 66.89 67.85

318.44 24,552.05 102.88 77.54

ing oscillators are currently bullish on FFBL.

forecasting oscillators are currently bullish on ENGRO.

Hub Power Co Ltd

Dera Ghazi Khan Cement Co Ltd

69.95

69.00

71.95

73.00

71.00

Attock Cement

47.70

62.00

61.50

63.00

63.50

62.50

Arif Habib Limited

49.18

25.85

25.60

26.60

27.05

26.35

Arif Habib Corp

58.74

25.90

25.60

26.80

27.30

26.45

Adamjee Insurance

62.64

88.70

87.70

91.00

92.30

90.00

Askari Bank

61.92

17.50

17.30

17.95

18.20

17.75

Azgard Nine

38.44

9.40

9.30

9.70

9.85

Attock Petroleum

63.25

337.30

334.05

345.55 350.50 342.25

Attock Refinery

64.61

129.15

127.70

132.75 134.90 131.30

Bank Al-Falah

54.94

10.80

10.65

Bank.Of.Punjab

Fair Value

Rs Recommendations

Brokerage House

42

Buy

*Arif Habib Ltd

AKD Securities Ltd

43.29

Buy

AKD Securities Ltd

TFD Research

36.85

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

51.87 30.00 27.23 26.93

*Arif Habib Ltd

44

Buy

AKD Securities Ltd

44.9

Positive

Brokerage House

TFD Research

Technical Outlook

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

Buy

TFD Research

Positive

Technical Outlook Technical Analysis

Rs Recommendations

45.7

182.55 5,502.05 43.85 30.40

* Target price for Jun-11 & **Net Open Interest in future market

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

73.03 37.61 35.29 34.57

810.01 31,574.11 0.86 38.63

2.20 30.40

56.45

3.05

3.00

3.30

3.45

3.20

2.55

2.45

2.65

2.75

2.60

EFU General Insurance 43.66

42.35

41.85

43.45

44.05

42.95

EFU Life Assurance

44.26

73.60

73.20

74.70

75.40

74.30

Engro Chemical

69.74

203.85

199.70

Faysal Bank

51.84

14.95

14.80

Fauji Cement

46.58

4.95

4.85

Fauji Fert Bin

69.06

38.40

38.10

Fauji Fertilizer

77.07

132.35

131.85

133.70 134.55 133.20

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

Habib Bank Ltd

63.34

122.10

120.65

125.90 128.25 124.45

reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-

Hub Power

ing oscillators are currently bullish on NBP.

ICI Pakistan

* Target price for Jun-11 & **Net Open Interest in future market

and Bollinger Bands were 43 per cent wider than normal. NBP is currently 13.6 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to

Indus Motors J.O.V.and CO

Brokerage House

* Target price for Jun-11 & **Net Open Interest in future market

Fair Value

Rs Recommendations

and Bollinger Bands were 5 per cent narrower than normal.

37.35 143.80

150.90 154.00 148.90

258.85

261.65 262.80 260.80

3.85

3.75

50.12

1.70

1.65

2.65

2.70

2.55

44.50

45.00

43.75

K.E.S.C

61.03

2.95

2.85

3.25

3.40

3.10

Lucky Cement

47.57

74.30

73.85

75.50

76.25

75.05

MCB Bank Ltd

57.21

222.60

220.80

Maple Leaf Cement

41.61

2.75

2.70

68.02

76.60

76.10

78.90

2.85 77.50

58.24

23.20

22.85

24.00

24.55

23.70

20.05

19.90

20.50

20.75

20.30

NIB Bank

57.19

Nimir Ind.Chemical

57.27

2.95 2.05

2.85 2.00

2.50

2.45

and Bollinger Bands were 56 per cent wider than normal.

78.00

3.00

69.62

34.59

(trending) and Bollinger Bands were 95 per cent wider than normal.

2.90

Netsol Technologies

PACE (Pakistan) Ltd.

* Target price for Jun-11 & **Net Open Interest in future market

227.10 229.80 225.30

Nishat (Chunian)

Buy

* Target price for Jun-11 & **Net Open Interest in future market

1.75

2.40 42.50

296.6

107.94 34,842.64 261.09 323.27

4.00

2.50

AKD Securities Ltd

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

1.85

38.80

43.25

Buy

79.09 304.61 252.86 241.42

4.25

50.20

48.7

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

1.80

40.30

77.75

66.65

176.05 7,746.23 0.00 43.51

4.10

Kot Addu Power

170.65

Negative

39.65

JS Bank Ltd

67.30

DGKC closed down -0.34 at 30.14. Volume was 10 per cent below aver- HUBC closed up 0.93 at 38.98. Volume was 84 per cent above average KAPCO closed up 1.21 at 44.00. Volume was 543 per cent above average POL closed up 1.08 at 322.79. Volume was 65 per cent above average age and Bollinger Bands were 47 per cent narrower than normal.

38.15 259.65

174.30

Leverage Position

5.00 38.80

145.80

70.64

281.35

15.25

5.20 39.50

59.45

70.70

Technical Outlook

15.70

5.10 39.05

61.92

Oil & Gas Dev. XD

TFD Research

15.40

73.03

Nishat Mills

Technical Analysis

211.30 214.60 207.15

47.94

Hold

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

3.95 9.80

2.40 31.15

317.2

Neutral

4.35 10.50

2.25 30.65

*Arif Habib Ltd

Leverage Position

4.10 10.05

1.95

Buy

46.05

77.75 41.73 40.67 41.92

9.15 29.60

47

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

3.55

2.00 29.85

37.06

Pakistan Oilfields Ltd

Rs Recommendations

9.40

47.37 51.87

Dost Steels Ltd

Technical Outlook

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

Fair Value

3.70

9.55

11.05

Dewan Salman

Kot Addu Power Co Ltd

Fair Value

47.83

11.45

D.G.K.Cement

National Bank

Brokerage House

62.82

11.20

Dewan Cement

Japan Power

*Arif Habib Ltd

1st 2nd Pivot Resistance 3.30 3.45 3.20

68.13

BankIslami Pak

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

FFBL closed up 0.21 at 38.65. Volume was 339 per cent above average ENGRO closed up 6.45 at 208.00. Volume was 407 per cent above aver- NBP closed down -0.55 at 77.10. Volume was 10 per cent above average

(trending) and Bollinger Bands were 18 per cent wider than normal. age (trending) and Bollinger Bands were 55 per cent wider than normal. KSE 100 INDEX is currently 18.6 per cent above its 200-day moving average FFBL is currently 27.9 per cent above its 200-day moving average and is ENGRO is currently 12.2 per cent above its 200-day moving average and and is displaying an upward trend. Volatility is extremely high when compared displaying an upward trend. Volatility is extremely high when compared to is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators to the average volatility over the last 10 trading sessions. Volume indicareflect moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX. Momentum oscillator is currently reflect moderate flows of volume into FFBL (mildly bullish). Trend forecast- tors reflect moderate flows of volume into ENGRO (mildly bullish). Trend

port level at 12,097.15.

indicating that INDEX is currently in an overbought condition.

Brokerage House

Fair Value

Technical Outlook

Leverage Position

69.06 36.89 31.35 30.24

12,368.85

normal. As far as resistance level is concern, the market will see major 1st

Rs Recommendations

*Arif Habib Ltd

RSI (14-day) MA (10-day) KSE 100 INDEX closed down -82.34 point at 12,306.70. Volume was 28 MA (100-day) per cent above average and Bollinger Bands were 17 per cent wider than MA (200-day) MA (200-day)

Fair Value

RSI 1st 2nd (14-day) Support 44.68 3.05 2.95

Allied Bank Limited

1.95

3.45

3.15

2.15

2.20

2.10

70.15

68.40

2.60

2.65

2.55

Pervez Ahmed Sec

42.14

P.I.A.C.(A)

55.09

Pioneer Cement

51.45

6.95

6.90

Pak Oilfields

79.09

320.10

317.40

326.50 330.20 323.80

Pak Petroleum

67.05

221.35

219.30

226.70 230.05 224.65

Pak Suzuki

53.03

70.70

69.85

P.S.O. XD

57.75

292.65

290.85

P.T.C.L.A

52.39

19.30

19.15

Shell Pakistan

56.32

205.75

204.75

Sui North Gas

45.01

26.75

26.45

27.50

28.00

27.20

Sitara Peroxide

48.30

13.15

13.05

13.40

13.50

13.30 21.80

2.35

1.90

3.25 69.10

183.30 188.65 179.65

2.30

2.15

2.25

2.10

2.50

2.55

2.45

7.05

7.15

72.70

73.85

7.00

71.85

297.65 300.80 295.85 19.65

19.85

19.50

208.50 210.25 207.50

Sui South Gas

52.33

21.45

21.00

22.20

22.60

HUBC is currently 12.8 per cent above its 200-day moving average and is KAPCO is currently 5.0 per cent above its 200-day moving average and is POL is currently 33.7 per cent above its 200-day moving average and is

Telecard

44.02

2.15

2.10

2.25

2.30

displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is relatively normal as compared to

TRG Pakistan

24.50

3.15

3.05

3.40

3.55

3.30

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

United Bank Ltd

58.59

65.85

65.10

67.70

68.80

66.95

reflect moderate flows of volume into HUBC (mildly bullish). Trend fore- reflect very strong flows of volume into KAPCO (bullish). Trend forecasting reflect moderate flows of volume into POL (mildly bullish). Trend forecast-

WorldCall Tele

41.97

2.55

2.50

2.75

2.85

2.65

reflect volume flowing into and out of DGKC at a relatively equal pace. casting oscillators are currently bullish on HUBC. Momentum oscillator is oscillators are currently bullish on KAPCO Momentum oscillator is current- ing oscillators are currently bullish on POL. Momentum oscillator is current-

Jah Siddiq Co

44.21

10.85

10.70

11.20

11.45

11.05

Trend forecasting oscillators are currently bearish on DGKC.

Lotte Pakistan

71.45

14.50

14.35

14.95

15.20

14.75

DGKC is currently 11.9 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators

currently indicating that HUBC is currently in an overbought condition.

ly indicating that KAPCO is currently in an overbought condition. a

ly indicating that POL is currently in an overbought condition.

2.20


8

Tuesday, January 11, 2011

Skype very legal in China: partner

HYDERABAD: Manjari Fadnis poses with the Onida KY Thunder 007 mobile phone during a launch in Indian Hyderabad. Reuters

PTA-UET Taxila to research in concert PTA to hold seminar on 11th ISLAMABAD: Pakistan Telecommunication Authority (PTA) and University of Engineering and Technology (UET) Taxila have signed a Memorandum of Understanding (MoU) to promote telecom related research that would be beneficial for both the organisations, the telecom industry as well as for the country. This MoU would also boost mutual cooperation in the relevant fields and would enhance the industry academia linkage, said a press release issued here. Chairman PTA Dr Mohammed Yaseen and Vice Chancellor UET Professor Dr Muhammed Abbas Choudhary were present while representatives of PTA and UET signed the MoU in a ceremony held at

UET. This MoU would be valid for (five) years and renewed on completion. Main objectives of this collaboration are to support research activities and to equip future leadership with theoretical and practical training in policy and regulatory issues of telecom sector. It is expected that the related organisations would benefit from this collaboration as young experts would be conducting research in the relevant fields of telecom with guidance of the faculty and PTA. On this occasion, Chairman PTA Dr Mohammed Yaseen said that PTA would provide data on telecom sector and expertise to UET Taxila, reciprocally the University would encourage its students to undertake research in different areas of telecom sector. He said that under the MoU, PTA would help UET identify research areas. Similarly, UET would coop-

erate with PTA on different issues of trade, business and economy related to telecom sector. The VC said that "we are looking for possibility to set up a Chair on Telecommunications at UET. We have also plans to start masters and doctorate programmes in telecom regulations. We want to establish an institution for telecom research as well." This is the third MoU signed between PTA and any university. Moreover, PTA is holding a Seminar on "Development of 3G Devices in Pakistan" on January 11, 2011 (from 10:00 am to 01:00 pm) at a local hotel. The summit will discuss about the endless possibilities of 3G has to offer and potential business prospects, issued a press release here on Monday. Chairman PTA Dr Mohammed Yaseen will preside over the Seminar.-APP

BEIJING: Skype's partner in China, TOM Group, said the Web-based calling service is complying with Chinese law, even as a crackdown on illegal Internet telephone providers could complicate Skype's operations in the country. The comments from TOM Group, which is 51 per cent owned by Hong Kong billionaire Li Ka-Shing, came as potential investors in Skype's planned $1 billion initial public offering year fret that any ban on Internet telephone services in China could exclude the company from of the world's largest Internet market. "The operation of Skype in China is compliant with local laws and regulations," a TOM Group spokeswoman told Reuters. "Currently, it is business as usual while service provision stays normal." The Ministry of Information and Industry Technology called in a notice on December 10 for a crackdown "on illegal VoIP telephone services" and said it was collecting evidence for legal cases against them. It did not identify any companies. While that could affect VoIP (voice over Internet protocol) services such as Skype, and privately owned UUCall and Heyyo!, analysts said it was far from clear what companies were being targeted or how strictly authorities would enforce any limits. "Often these crackdowns are focused on the small domestic companies," said Mark Natkin, managing director of Marbridge Consulting, a Beijing-based company that advises businesses on China's telecom and IT industries. "It doesn't mean that the sky is falling. "I don't believe that Skype is being shut down, but one never knows." The Chinese regulator did not respond to a list of submitted questions about its announcement and its spokesman's office did not answer telephone calls. In 2005, Skype was blocked in parts of China as the government sought to ban phone calls made over the Internet. At the time, Chinese authorities permitted only China Telecom and China Netcom, which has since merged with China Unicom, to conduct pilot programmes for VoIP services in two cities each, said Kan Kaili, a professor at the Beijing University of Posts & Telecommunications. The pilot programmes never took place, however, and that could make it unlikely for authorities to enforce any ban on Skype, said Kan. There is also the possibility that any ban could stir up memories of China's recent dispute with Google. "Whether the government will make any direct move against Skype has to be seen, because Skype is so internationally popular and there's the factor of international politics," Kan said. -Reuters

Cell import in Nov-10 shot up by 213pc YoY ISLAMABAD: Cellular handsets' import in the country has witnessed a whopping growth of 213 per cent in November 2010 as compared to same month of last year. Such imports increased to $43.416 million in November 2010 as against $13.869 million in the same month of 2009. The significant increase in imports depicts the upward demand trend in the local markets to meet the consumers' needs in the different cities including flood-hit areas. Federal Bureau of Statistic's (FBS) data on Monday showed that the imports also recorded a 34 per cent jump in November 2010 as against October 2010, showing a constant month-onmonth growth. Industry experts said the demand spike also translates into higher sales of the branded and Chinese-made mobile handsets in the country. The imports of Chinese-made handsets have maintained its growth in the local markets owing to its popularity among the customers for low-cost and dualSIM brands. The imports of branded mobile handset via China have also minimised duty structure, showing constant growth in the imports of mobile handsets, they added. Head of a renowned Mobile phone brand in Pakistan said the handsets imports were witnessed increasing on high demand of the customers in the local market particularly in flood-hit areas where millions of people had lost their handsets during July to August 2010. He said the sales in the com-

mercial and flood-hit areas have witnessed growth in the last couple of months. He explained that Pakistani market has changed in the last couple of years as the matter of fact share of low-priced handsets increased owing to the eroding purchasing power of the people. This gadgets business witnessed shift towards lowpriced handsets as it as 70 per cent of the Pakistani market comprises buyers having purchasing power up to $50. The section of customers that could only afford mobile handsets ranging from $100 (Rs8,550) is now purchasing handsets costing up to $80 (Rs6,840). Those who could afford up to $80 are now buying $50 (Rs4,275) phones, he added. Similarly, a significant number of customers buy handset priced up to $20 including cellular phone operators' tagged gadgets. In Jul-Nov 2010, the mobile handset imports witnessed 98.44 per cent growth. The handset imports bill rose to $180,820 million as against $91,121 million in the same period of previous year. The sales and purchase of mobile handsets witnessed growth owing to different reasons. Cellular phone users replace their old handsets with new ones to use latest technology. Mobile phones are bought when handsets stop functioning. Also, a large number of customers buy new gadgets repeatedly in case of theft and snatching.-APP

Mod tech park at UET Taxila soon WAH CANTT: A modern technology park would be established at University of Engineering and Technology (UET) Taxila to provide state of art facilities to the scholars, academia, researchers, public and private sector enterprises for research and inventions. This was stated by Vice Chancellor (VC) UET Professor Dr Muhammad Abbas Choudhary while talking to Newsmen here. He said revolutionary steps have been taken for infrastructure and academia development during last three

months after he took VC's office. He further said seats for students have been doubled in three technologies including telecom, software and computer engineering. "Three new departments have been introduced in the university including environmental, electronics and industrial engineering, while three new faculties would be introduced next academic year including material engineering, geotechnical and aeronautical engineering," he added.APP

Warid, Wateen Pak top brass reshuffled ISLAMABAD: His Excellency Sheikh Nahayan Mabarak Al Nahyan, Chairman of the Abu Dhabi Group announced the appointment of a new management team for the Group's extensive investments in Pakistan. In a statement issued here, Sheikh Nahyan said, "As chairman of the Abu Dhabi Group, it is my pleasure to announce the appointment of Zouhair A Khaliq who will serve as Executive Director and represent the Group on the boards of Warid Telecom, Wateen and Wincom, while Naeem

Zamindar will hold the position as the CEO of Wateen". He said both will continue the Group's strong commitment to the Pakistani market and the people of Pakistan. "For us at the Abu Dhabi Group these new Business Leaders represent the next generation of senior executives whose focus will be on setting corporate strategies and policies, providing exceptional service to our customers and creating value for our shareholders in times of constant change," Mr. Mabarak Al Nahyan said. In this new year of 2011,

he said our goal is to continue to improve our businesses in Pakistan to strengthen and broaden our ability to serve our customers and compete successfully in the market place. He said they will also continue with active participation in the important educational, cultural and social initiatives in the communities they serve. "We are proud of our relationship with the people of Pakistan and are committed to being a model of responsible corporate behavior in this wonderful country," the statement said.-NNI

LAHORE: Hee Chang Yee, MD Samsung Electronics and Mr. Khalid, CEO Mobo International at the inauguration of Customer Service Centre on Lawrence Road-Staff Photo

Telenor sees India row as anti-business OSLO: Norway's Telenor fears that a telecom corruption scandal rocking India may damage its fledging mobile operations there and says a $6 billion expansion deal by partlyowned Vimpelcom carries too much uncertainty. India is mulling whether to cancel dozens of mobile licences, including those held by Telenor's Indian unit, after reports of corruption and billions of dollars in potential losses for state coffers. Asked if he was concerned that Telenor's India operations might be damaged, Chief Executive Jon Fredrik Baksaas said: "Of course that is something we are concerned about. We are working to give our views and bring clarity on our role, position and intentions in the Indian telecom market." Baksaas said India's reputation as a good place for foreign investment may be damaged if the row is protracted. "If this kind of unclear situation is not resolved in a reasonable time horizon it will hamper investments from here onwards," he told Reuters on the sidelines of a conference. "It doesn't benefit the industry that these things are hanging around and not being resolved," he said last week. Telenor is one of the world's largest mobile operators in terms of subscriptions, with operations in the Nordics, Eastern Europe and throughout emerging Asia. It had 195 million mobile subscriptions in September, including 91 million held by Russia's No. 2 mobile group Vimpelcom, in which it owns a 36 per cent voting stake. Baksaas said Telenor opposed Vimpelcom's proposed deal to buy control of Orascom and Italy's Wind from Egyptian tycoon Naguib Sawiris' Weather Investments because of economic and strategic concerns. Telenor voted against the deal at last month's Vimpelcom board meeting, triggering a revised offer by Vimpelcom which is now being evaluated by Sawiris.-Reuters

AT&T got 50pc more Chinese clients last yr HONG KONG: has increased the number of clients it has in the Greater China region by about 50 per cent in the past year, a senior executive said last week, and is now looking to target privately run Chinese companies. AT&T now counts over 600 companies as its clients in China, Hong Kong, Macau and Taiwan, including companies such as flag carrier Air China and up from about 400 in 2009, said Johnny Ng, AT&T's general manager for the Greater China region. "Some companies in China are looking to expand through acquisitions, and this will help them become large multi-nationals, and that's our focus," Ng said in an interview. Revenue from the region in the first nine months of 2010 rose about 21 per cent, faster than the 13 per cent recorded in the full year of 2009, Ng said. While China is the world's mobile market, it is largely offlimits to foreign operators such as AT&T and Vodafone, which have over the years resorted to setting up joint ventures or buying minority stakes instead. AT&T has a 25 per cent stake in a joint venture with China Telecom, the country's largest fixed line operator, where it hires about 70 people. Its 740 million strong subscriber base is shared between China Mobile, China Unicom and China Telecom, and the government has not shown any intention of issuing licenses to foreign operators the way India has. -Reuters


9

Tuesday, January 11, 2011

European vegetable oil prices

HALLE - GERMANY: A lab worker prepares samples of finely-ground animal feed for analysis for possible dioxin contamination. German authorities across the country are on high alert following the disclosure that the animal feeds company Harles and Jentsch GmbH had sold large quantities of dioxin-tainted animal feed to poultry and hog farmers. Authorites in Lower Saxony have halted eggs and meats shipments from 1,000 farms as a precaution. -Reuters

Palm oil falls on small decline in Malaysian stocks KUALA LUMPUR: Palm oil fell on Monday as a smaller-thanexpected decline in stocks gave traders an excuse to book profits although concerns over global vegetable oil supplies limited losses. A weaker Malaysian palm oil production trend into the first quarter of this year and drier weather potentially affecting soybean yields in Argentina may support the vegetable oil complex. "Some traders are extending long liquidation moves from last week thanks to the Malaysian Palm Oil Board data, but exports show some sign of starting to recover," said a trader with a foreign commodities brokerage. The benchmark March 2011 crude palm oil contract on Bursa

Malaysia Derivatives settled down 0.9 per cent to 3,730 ringgit ($1,215.182) per tonne. Overall traded volume stood 22,422 lots of 25 tonnes each, compared to the usual 15,000 lots. Other players said palm oil export data for the first ten days of January did little to lift the market, with most of the gains coming from crude oil edging close to $90 a barrel. Cargo surveyor Intertek Testing Services on Monday said Malaysian palm oil exports for Jan. 1-10 rose 0.75 per cent to 300,250 tonnes from the same period in December. Another cargo surveyor Societe Generale de Surveillance said exports for the same period slipped 5.7 per cent to 331,655 tonnes, slowing from a 9 per cent

decline a month ago. "Exports are a little better but it remains to be seen if any new price rally destroys demand further," said another trader in Malaysia. "Supply is still a concern." Malaysian palm oil futures rallied to a 33-month high last week on global vegetable oils supply anxieties as heavy rains in the country's major producing states and dryness in South America have stalled production of palm oil and soybean. Other vegetable oils were mixed in Asian trade. US soyoil for January delivery, which is used as a feedstock for biofuel, rose 0.6 per cent in Asian trade hours. In China, the most active Sept 2011 soyoil contract on Dalian Commodity Exchange fell 1 per cent.-Reuters

Copper melts as EU debt worries cut risk appetite LONDON: Copper fell 1 per cent on Monday, as worries about sovereign debt in Europe curbed risk appetite, and lower buying activity from top consumer China sapped upward momentum. Copper for three-months delivery on the London Metal Exchange finished at $9,321, down from a close of $9,425 on Friday. But the metal used in power and construction remained within reach of a record high of $9,754 a tonne hit last week. Copper was on the back foot as concerns over Portugal debt blunted appetite for risky assets such as commodities, and sent the dollar up temporarily against the euro, said Merrill Lynch-Bank of America analyst Michael Widmer. "The stronger dollar is part of it. But a lack of Chinese buying in the past few weeks has also curbed the upside for copper. We need to see more activity there...that is what (investors) are waiting for," he said. "With the week-long Chinese New Year holidays

due in early February, Chinese participants may well look to delay any significant purchasing activity, particularly given current high prices," said Standard Bank in a research

Shanghai copper trims gains Shanghai copper futures pared early gains as investors trimmed positions in light of rising stocks and record prices. Shanghai copper rose 260 yuan to 69,760, having earlier touched 70,200 yuan. note. Meanwhile, focus remained on stock holdings, where dominant single positions of more than 50 per cent exist in the copper, zinc and nickel markets. Traders said index rebalancing this week had spurred purchases on the LME ring close

of aluminium and zinc, which had lent some support to prices. Aluminium finished at $2,488 a tonne from $2,518 on Friday. Zinc, fell more than 3 per cent at one point, ending at $2,379 a tonne from $2,445, battered by systems-based fund selling, a trader said. These funds use algorithms and chart patterns for signals rather than fundamentals - to buy or sell. Battery material lead closed at $2,586 a tonne from $2,649 while tin was untraded but bid at $26,250/26,300 from $26,450. Indonesia's refined tin exports fell 9.2 per cent in December 2010 to 7,722.01 tonnes from 8,508.36 tonnes a year earlier, trade ministry data showed. Nickel finished at $23,875 a tonne from $24,200. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 07 2011 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1310

1250

December (3rd Wednesday)

1320

1260

January (3rd Wednesday)

1320

1260

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for January 07 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY

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

2260 2270 2215 2225 2170 2180 2170 2180

2491.5 2492.5 2501 2501.5 2555 2560 2590 2595

9398.5 2659.5 9399 2660 9389 2634.5 9390 2635 9145 2553 9155 2558 8755 2503 8765 2508

24340 24345 24300 24350 23925 24025 23120 23220

TIN

ZINC NASAAC

26300 2399 26350 2400 26275 2406 26300 2406.5 25775 2422 25825 2427 2387 2392

2381 2382 2450 2455 2475 2485 2530 2540

ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 1054.00, May11/Jul11 1055.00+4.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 1092.00-13.00, May11/Jul11 1085.00+0.00, Aug11/Oct11 1010.00+2.00, Nov11/Jan12 1015.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1500.00+10.00, Apr11/Jun11 1460.00+0.00, Jul11/Sep11 1485.00-5.00, Oct11/Dec11 1375.00-5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Jan11/Feb11 1340.00+0.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1272.50-7.50, Feb11 1270.0015.00, Mar11 1262.50-12.50, Apr11/Jun11 1245.00-10.00. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1282.50, Mar11 1280.00, Apr11/Jun11 1267.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1237.505.00, Mar11 1235.00-7.50, Apr11/Jun11 1222.50-10.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1245.00-10.00, Mar11 1242.50-10.00, Apr11/Jun11 1230.00-10.00, Jul11/Sep11 1210.00-12.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Jan11/Feb11 1875.00-5.00, Feb11/Mar11 1865.00+5.00, Mar11/Apr11 1855.00+5.00, Apr11/May11 1845.00+5.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1995.00+0.00. Reuters

Indian sugar extends losses on weak demand MUMBAI: Indian sugar prices extended last week's losses on Monday, hammered by weak demand and reports the country may delay exports of the sweetener to curb the double digit food inflation, dealers said. However, after market hours Farm Minister Sharad Pawar told reporters that India still has plans in place to export 500,000 tonnes of sugar, but the government will be cautious in allowing farm exports due to high food inflation. Unrestricted exports of 500,000 tonnes of sugar from India may be delayed, Indian trade and industry sources said on Friday. "Sentiment was weak. Market was talking about possibility of a postponement in the exports," said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety eased 0.5 per cent to 2,786 rupees ($61.3) per 100 kg. The most-traded M grade sugar contract for January delivery on India's National Commodity and Derivatives Exchange (NCDEX) closed 0.92 per cent lower at 2,812 rupees per 100 kg, recovering from a contract low of 2,807 rupees earlier. -Reuters

Oil up on Alaska pipeline; gains capped by US dollar Short-term supply threat, longer-term regulatory risks LONDON/SINGAPORE: Oil rose over 1 per cent on Monday after a leak shut an Alaskan pipeline that carries 12 per cent of US crude output, but gains were capped by a stronger dollar due to worries about Portugal's debt. The Trans Alaska Pipeline was shut down on Saturday because of a leak in Prudhoe Bay, forcing oil companies to cut output to 5 per cent of their daily average of 630,000 barrels. The shutdown of one of the key US oil arteries sent crude prices leaping early in Asia by almost $2 to $89.98 a barrel, although prices eased to $89.29 at 1448 GMT. "Of course a pipeline with a magnitude like that is supportive for crude prices. It is normal that first the market reacts a bit too much. But then it is a question of how long the line will be closed," said Hannes Loacker, an oil analyst at Raiffeisen Bank International. "It is of course a problem for North America, but it wouldn't justify a price increase by 2 or 3 per cent ... Today most (financial) markets are facing some

minor losses. So this is like the other side of the coin," Loacker added. Lawrence Eagles from J.P Morgan said that from an engineering perspective, he doubted that any shutdown would last more than two to three days. "However, government inspectors are likely to want a more comprehensive understanding of the cause," he said,

adding that the outage could last a week or more as a result. "One of the clear messages from the Macondo oil spill in the Gulf of Mexico is that unplanned outage assessments will have to be increased going forward." Amrita Sen from Barclays said the scale of the leak seemed small enough for the pipelines to be restarted fairly soon. "Reserve stock levels should be plenty to meet any shortfall at Valdez until the weekend," she added. Gains in Brent crude outpaced

Gold holds below $1,370/oz on firm $ LONDON: Gold held below $1,370 an ounce on Monday as the firmer dollar kept up pressure on the metal, offsetting concerns about the prospects for Portugal's sovereign debt, which lifted the metal's appeal as a haven from risk. Spot gold was bid at $1,366.85 an ounce at 1459 GMT, against $1,368.80 late in New York on Friday. US gold futures for February delivery fell $2.10 an ounce to $1,366.70. Prices last week posted their

Buying in India, the world's biggest gold consumer, rose on Monday after last week's price fall attracted buyers back to the market, and traders stocked up ahead of the upcoming harvest festival and on wedding demand, dealers said. But interest in gold-backed exchange-traded funds continued to be lacklustre, with holdings of the largest, New York's SPDR Gold Trust, dropping by a further 1.5 tonnes on Friday. Societe Generale said in a weekly note that buying by

biggest one-week fall since May 2010 after a run of betterthan-expected US data lifted expectations that monetary policy could tighten sooner rather than later. The return of concerns over the euro-zone has tempered that dip, though risks remain. "Overall positive US economic data last week reduces the likelihood of further quantitative easing, thus weighing on gold's safe haven and inflation hedge appeal," said BNP Paribas analyst Anne-Laure Tremblay. "Higher bond yields are also raising the opportunity cost for holding gold. Beyond this short term correction, we continue to hold a positive view of the gold price for the balance of 2011," she added. "Sovereign risk will remain a key theme for gold in 2011."

exchange-traded funds had been markedly slower as prices rose above $1,400 an ounce. "This, of course, does not necessarily mean that investor appetite has become sated," it said. "ETF purchases, as noted above, were eclipsed by the very strong demand in (over the counter) products, and there are clear indications that this demand will remain strong this year." "This will be driven by Chinese buying at the retail level in particular," it added. Holdings of the largest silver ETF, the iShares Silver Trust, also fell more than 53 tonnes on Friday. Spot silver was at $28.77 an ounce against $28.69. Platinum was at $1,735.99 an ounce against $1,731, while palladium was at $749.47 against $748.50. -Reuters

gains in US crude as it rose 1.84 cents to $95.14, keeping Brent's premium to WTI at $6 or close to a seven-month high. Iran, holder of the rotating OPEC presidency, said on Monday it was comfortable with the rising oil price and that there was no need for any emergency OPEC meeting. "While the door to $100 has no doubt opened up with OPEC having chosen to act reactively to price rises, we do not believe that prices are likely to average above $100 this year, or in any of the quarters," said Sen. "Current spare capacity in OPEC, and in particular Saudi Arabia, though eroding, is significantly higher than the levels seen in 2008, making the process of achieving price stability an easier one," she added. Data from China showed the world's largest commodities consumer imported 239.31 million tonnes of crude oil in 2010, up 17.5 per cent from 2009, but the growth could slow in 2011. -Reuters

Cocoa off 4-wk low; sugar mixed LONDON: Cocoa futures rebounded from an earlier four-week low in London on Monday with industry buying helping to stem the market's recent downward slide. Dealers said the market had earlier been weighed by hedge selling as supplies flowed out of West Africa despite ongoing political tensions in Ivory Coast. Dealers said the risk premium built into cocoa prices in the aftermath of the disputed presidential election in top grower Ivory Coast had, however, gradually been eroded. May cocoa on Liffe was off 1 pound or 0.05 per cent at 1,935 pounds a tonne at 1642 GMT after earlier touching 1,918 pounds, the lowest level for the benchmark second month since mid-December. May cocoa on ICE stood $24 higher at $2,897 a tonne. Raw sugar futures on ICE were lower as the market fell back slightly following Friday's surge, driven by doubts about the exports outlook from number two producer India due to mounting concerns about domestic inflation. March raws fell 0.29 cent or about 0.9 per cent to 31.24 cents a lb. Prices on Liffe were higher, partly adjusting to the late run-up on ICE when the London market was already shut, with March up $6.90 at $772.00 per tonne. Coffee futures were slightly higher, rebounding after a gradual decline during the last few sessions. May arabicas on ICE rose 2.15 cents or 0.9 per cent to $2.3440 per lb while March robustas on Liffe climbed $33 to $2,056 a tonne. -Reuters

National Commodity Exchange Ltd Trading Summary Date

10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011 10-Jan-2011

Commodity

CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M

Contract Date

Price Quotation

Open

High

Low

Close

FE11 MA11 AP11 MA11 AP11 FE11 MA11 AP11 FE11 MA11 AP11 JA11 FE11 MA11 JA11 FE11 JA11 JA11 MON TUE WED THU FRI MON TUE WED THU FRI 13JA11 JA11 JA11 11-Mar 11-Jun

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 Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

89.00 90.00 91.02 28.49 28.50 1358.90 1359.60 1360.60 1356.10 1359.40 1360.30 37817.00 37500.00 37600.00 37549.00 37558.00 43797.00 43797.00 38606.00 38648.00 38661.00 38675.00 38689.00 44363.00 44632.00 45282.00 45225.00 44650.00 3387.00 3392.00 5244.00 86.22 85.32

89.40 90.39 91.02 29.35 28.77 1378.30 1379.80 1380.30 1377.30 1368.60 1368.60 37861.00 37975.00 37884.00 37833.00 37842.00 44128.00 44128.00 38949.00 38894.00 38908.00 38921.00 38935.00 44761.00 45142.00 45282.00 45303.00 45170.00 3387.00 3392.00 5244.00 86.24 85.32

87.27 88.50 90.87 28.34 28.50 1353.00 1353.60 1355.00 1356.10 1359.40 1360.30 37577.00 37400.00 37600.00 37549.00 37558.00 43797.00 43797.00 38606.00 38648.00 38661.00 38675.00 38689.00 44363.00 44411.00 44426.00 44000.00 44458.00 3384.00 3388.00 5203.00 86.22 85.32

88.90 89.98 90.87 28.74 28.77 1367.70 1368.60 1369.50 1367.70 1368.60 1368.60 37861.00 37869.00 37884.00 37833.00 37842.00 44128.00 44128.00 38949.00 38894.00 38908.00 38921.00 38935.00 44761.00 44699.00 44714.00 44730.00 44746.00 3384.00 3388.00 5203.00 86.24 85.32

Traded Volume in lots 459 54 279 2,782 3,106 2,697 46 1 12 31 10 13 9 -

Previous Settlement Price 89.64 90.63 91.43 28.92 28.95 1371.50 1372.50 1373.50 1371.50 1372.50 1373.50 37916.00 37925.00 37939.00 37888.00 37897.00 44192.00 44192.00 39006.00 38950.00 38964.00 38978.00 38992.00 44828.00 44764.00 44780.00 44796.00 44812.00 3387.00 3392.00 5244.00 86.22 85.32

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 88.90 88 89.98 39 90.87 4 28.74 101 28.77 1367.70 1,049 1368.60 1,869 1369.50 1,361 1367.70 12 1368.60 1369.50 37861.00 30 37869.00 22 37884.00 1 37833.00 2 37842.00 44128.00 44128.00 38949.00 38894.00 38908.00 38921.00 38935.00 44761.00 44699.00 8 44714.00 6 44730.00 6 44746.00 6 3384.00 3388.00 5203.00 86.24 85.32 -


France's Ogier steers his Citroen C4 WRC during the Aghii Theodori special stage of WRC Acropolis rally southwest of Athens

10

Tuesday, January 11, 2011

SRK needs Ganguly in IPL DURBAN: Kolkata Knight Riders' owner and Bollywood icon Shah Rukh Khan said he would try and find a role for Sourav Ganguly in his IPL team after the former India skipper remained unsold. Ganguly, who led KKR in the last edition, was left redfaced as none of the 10 franchisees showed interest in buying him at the two-day auction in Bangalore. "I would love it, I would love Sourav to be an integral part. You don't have a team in Kolkata without him. So, I will speak to Dada when I get back," Shah Rukh said. The fans of Ganguly on Sunday burnt Khan's effigies in Kolkata protesting his exclusion from the team. Shah Rukh refused to speak on why other teams ignored the former India captain. "I don't think I should be commenting on the nine other people. There are 350 to 400 players. There are 10 teams with think-tanks varying in hundred of numbers, the permutations and combinations. I don't think any of us can comment really on who should pick who? I don't think we have the right to do that. "Auction is actually a chance like. It is very difficult to be completely confirmed on what you do in the auction. So things go wrong, kind of money you have, which players come first, so lots of decisions have to be made," he said.-Agencies

Lee may quit if not selected for World Cup MELBOURNE: The Australian pace veteran Brett Lee on Monday hinted that an end to his cricketing future could be anytime near if he was overlooked by the selectors for the upcoming cricket World Cup in the sub-continent. Lee while expressing his desire to lead the Australian bowling attack during the mega event said, "I hope that I am in it, and want to lead the attack for Australia." Lee, who has already announced retirement from the Test cricket, was last month named in the provisional 30-man squad which is supposed to be altered to a 15 member unit during this month. The fast bowler however remains positive of making a comeback in the ODI side after being overlooked by the selectors for the series against Sri Lanka earlier. "Hopefully I can bring some experience and different blood back in the team. I'm ready to play, and if I'm chosen, it will be great; if [not] I'll work out plan B," Lee told Sydney Morning Herald. The 34-year-old, who was picked by Kolkata Knight Riders for the IPL 4, insisted that he has recovered from the injury that kept him out of Twenty-20 World Cup in West Indies earlier last year and said that he was feeling better than ever. "I've been bowling 12 overs each match in the 45-over competition, which is more overs than I could bowl in a 50-over match," he said while elaborating on his stint with the New South Wales. "I'm really happy with the way the ball has been coming out ... It's easier on my body not bowling five days straight," Lee said.-Reuters

Pakistan seen doing good in WCup ISLAMABAD: Director General Pakistan Cricket Board (PCB) and former captain Javed Miandad believes that Pakistan's current players were talented enough and can finish at some respectable place in the upcoming World Cup provided they bring back the 1992 attitude. "We have some very talented boys in our side, who can raise the nation to glory. But what they need at present is aggression, push, motivation and unconventional strategy of 1992," he told APP on

Monday. The former cricket was of the opinion that Pakistan could perform well in the mega event even without fast bowlers Mohammad Amir and Mohammad Asif. "I think Pakistan's other players are also very talented and can be a threat to any side provided they grab the opportunities and play to their full potential," he said. Miandad said he was happy that his work with the boys during the camp for New Zealand tour yielded results and Pakistan outplayed that

country in the first test at Hamilton. "Pakistan played brilliantly in that match. It is not easy to defeat New Zealand at their home ground. I hope the win will boost morale of our players and they will maintain the performance," he remarked. He said during the camp he helped the players to identify their grey areas and overcome weaknesses. He said Pakistan must focus on the next match and do not relax as winning the series was very important for them.APP

IPL auction didn't distract Kiwis: Vettori HAMILTON: New Zealand captain Daniel Vettori insists that the Indian Premier League (IPL) auction did not play on the minds of his team during the humiliating 10wicket defeat to Pakistan in the first Test held in Hamilton. Vettori, Ross Taylor, Jesse Ryder and Brendon McCullum were among the players who went under the hammer in India on the second and third day of the Test on Saturday and Sunday. Vijay Mallya's Royal Challengers bought Vettori

for 550,000 dollars, Taylor went to the Rajasthan Royals for 1.3 million dollars, Ryder went to Pune Warriors for 150,000 dollars while Kochi IPL team bought McCullum for 475,000 dollars. The others signed, who were not involved in the Test, are Scott Styris for 200,000 dollars by defending champion Chennai Super Kings, James Franklin for 100,000 dollars by the Mumbai Indians and Nathan McCullum for 100,000 dollars by Pune Warriors,

Stuff.co.nz reports. When asked if the auction had impacted on their performance, Vettori said: "No, I don't think so." "Obviously those things can SYDNEY: Victoria Azarenka of Belarus plays a forehand in her match against Ekaterina be misconstrued. It is part of Makarova of Russia during day two of the 2011 Medibank International at cricket and you have to deal Sydney Olympic Park Tennis Centre .-Reuters with it, but if you use it as an excuse for your performance then that's not good enough." "It shouldn't be a motivating factor for your performance, either, it's about Test cricket. That's why most of us play the game, to perform at Test level," he added.-Online LAHORE: Prominent clubs of Lahore and other districts of Punjab Province will show their mettle when All Punjab SYDNEY: Former U.S. Open played good tennis again. I felt Raiders Football Cup 2011 will champion Juan Martin Del good all match, and finally I be played at Raiders Football Potro won his first match in a won a match (after) one year." Club Ground,Faisal Town, year Monday, coming through Del Potro, who won the 2009 from Sunday, 16 January 2011 a 200-minute test of his fitness U.S. Open final against Roger with Model Town/Raiders FC with a 6-7 7-6 7-6 victory over Federer, showed great determiexhibition match (2.30 PM). Feliciano Lopez at the Sydney nation after trailing by a set and According to Organizing International. again in the second set Secretary Kabir Ahmed The 22-year-old Argentine tiebreak. The third set was just as close Chaudhry, Raiders FC will act has played only two tournaas orgnizer in 30-clubs event. ments since having surgery last and Del Potro was forced to disastrous series. The pain in his voice was evi- Meanwhile 24 clubs, having May on a wrist injury that ham- save six break points before dent as he gave the interview. right of way in coming Lahore pered his Australian Open cam- appropriately clinching victory "Every match you play and Football elections and three paign last year, losing in the with one of his savage flat forehands. people pass on loose comments. clubs having Right of play, first round in both. Ranked fifth in the world One of those defeats was to This was really hurting me and have expressed complete confithe whole team," said the maes- dence in Model Town FC's Lopez in Tokyo but Monday at before his injury, Del Potro said he was a long way from the Sydney Olympic center, tro. President Mian Rizwan Ali wildcard Del Potro got his his best and needed a lot more Tendulkar felt that their hisduring Draws Ceremony at toric 2-1 series win over revenge after a monumental playing time to get back to that MTFC Ground, and vowed to Australia at home was the turnbattle with the sixth seeded level. follow the agenda, having Spaniard. ing point. "I need work to keep going in "I was sure that we needed to annual Lahore League, Lahore "We played a beautiful this road," he said. "You know, Cup, Age Group and Women put up a very special performmatch, very close," said Del it's a long road to be in the top Courses for Potro, who will play German 10 again, but I'm ready to try. ance against Aussies so that events, cricket lovers forget what has Administration, Referees and Florian Mayer, a 7-5 6-0 win"I feel happy for my victory, happened in the past and start Coaches plus All Lahore, All ner over British wildcard for everything ... I really like enjoying the game again and Punjab and All Pakistan events James Ward, in the next round. this life, you know. If you can move on. With grace of God we under aegis of different "Feliciano is a fantastic play- play without pain, it's much managed to do that. Lahore-based clubs.-Reuters er on this kind of surface, and I better."-Reuters

APR Football Cup 2011 on Sunday

Match-fixing initialy affected my game: Sachin Monitoring Desk DURBAN: Sachin Tendulkar has for the first time admitted that the match-fixing episodes in 1999-2000 had initially affected his game and the Indian team had to go through a difficult and painful phase as "spectators looked at us with suspicion". Tendulkar said he was not in the right frame of mind during India's disastrous tour of Australia where they were thrashed 0-3 in 1999-2000. "I can tell you that I was never approached by anyone, neither we had any discussions about the same in the team meeting,"

Tendulkar told former South African Board President Dr Ali Bacher in an interview for Super Sport Channel. "I remember that there was stage in 1999-2000 when it was very difficult as we were to play Australia. Before the series these things started making rounds. As a cricketer that's the last thing I want. "You want your beloved game to be as clean as possible. I wanted the spectators to enjoy the contest and not look at us with suspicion. To play well, players need to be in right frame of mind and I can tell you that I was not in that frame of mind," Tendulkar said, recollecting the

Del Potro gets 1st win in year, Baghdatis quits

Khi to host Pak-Palestine football clash LAHORE: Karachi's football followers will get a chance to witness a FIFA-recognized international game at their own soil after a lapse of more than five years when the Palestine football team will face Pakistan in the second of four Test series at Peoples Sports Complex on 2 March 2011. Last time, Karachi hosted the international match on 1 March 2006 when Pakistan faced UAE in 14th Asian Cup Qualifiers. It was 60th FIFA Congress 2010 in South Africa last year, during which Pakistan Football Federation (PFF)'s President MakhdoomSyed Faisal Saleh Hayat, also AFC Executive Committee member,met with Palestinian Football Association (PFA)'s President Al Rajoub Jibril and they both agreed to give their National teams training in

early 2011 with bilateral series for coming AFC Challenge Cup, World Cup and Olympics Qualifiers and SAFF/WAFFChampionship." Palestine used to play WAFF Championship, an international tournament for selected West Asian countries and territories. Palestine received the inaugural FIFA Development Award in recognition of the achievement and It would be an historic visit despite all the relations between two nations over the years." said Faisal who is also FIFA and World Disciplinary Committee member and Chairman AFC Disciplinary Committee.. The Palestine team, under Goal keeper of Ramzi Saleh (Al-Merreikh FC), will tour Pakistan for the first time in their history in the last week of February to play two matches against the hosts. Palestine

will play two matches against Pakistan on 27 February at Lahore and on 2 March at Karachi. Pakistan will make return visit in bilateral home and away test seriesfor two matches in April-May. The Pakistani booters will also get the privelege of visiting Al Aqsa Mosque, Baitul-Muqaddas, Meanwhile, football lovers has termed Palestine's visit as a landmark in thehistory of Pakistan football. On June 8, 1998, Palestine became a full member of FIFA at the 51st FIFA Ordinary Congress - the day when Sepp Blatter took over top seat of FIFA from Joao Havelange ( 7th President of FIFA from 1974 to 1998). Their first five international matches from 1934 to 1940 are all recognised by FIFA; Israeli Football Association also recognise

these matches as each of their own national side's full internationals. The 27th Feb Lahore clash will be third between the two teams in soccer history. Palestine were 3-0 winners on 18 February 2006 when Pakistan was in Manama, Bahrain for 14th Asia Cup QR preparation under former coachSalman Sharida (Bahrain), now the coach of his own country in ongoing 15th Asian Cup that opened at Doha on 7 January 2011 with Qatar-Uzbekistan tie at the magnificent Khalifa Stadium. Paletine, led by Israeli-Arab coach Azmi Nasser, struck through Fahed Attal (2) and Fahdi Salim atBahrain's National Stadium. But Azmi's life was sadly cut short after suffering a heart-attack a year later. Ibrahim Munasarah and Mohammed Al-Jeish were

scorers when both the teams entered the Doha field on 2 April 2000 for the first-ever tie between the two in 12th Asian Cup QR, with Palestine winning 2-0 against Pakistan, coached by John Henry Layton and David Burns. Played by millions of people in every corner of the world, football is truly a global sport. As many as 208 member associations come under the aegis of FIFA, including Palestine. The President of theirFA and head of the National Olympic Committee, Jibril Al Rajoub, came to Zurich on 21 September 2010 to meet FIFA President Blatter and discuss the development of football in the country. Three years have passed since the inauguration of the Faisal Al-Husseini International Stadium in AlRam near Ramallah.

Development money provided by FIFA helped towards the costs of the new Stadium which is the home stadium of the Palestine team, which was officially opened in the presence of Blatter on 26 October 2008. The stadium, seats 12,500, saw Palestine playedJordan 1-1 in their firstever home international in 10 years of FIFAmembership. Prior to that date, the Palestine FA did not have a stadium fit to host internationals, meaning that the national team had to play its 'home' matches in Jordan and Qatar. "Palestine footballers need to have the opportunity to play football. It can build bridges, bring young people in the region together and give them hope. The PFA needs to have the chance to work at providing a better future." summed up Faisal.-Online


ECB gives Portugal temporary lifeline, traders say LONDON: The European Central Bank threw Portugal a temporary lifeline on Monday by buying up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon. A senior euro zone source told Reuters on Sunday that Germany, France and other euro zone countries were pushing Portugal to seek an EU-IMF assistance programme, following Greece and Ireland, in a bid to prevent contagion spreading to much larger Spain, the fourth biggest economy in the euro area. The interest rate premium on Portuguese sovereign debt fell on Monday after rising sharply late last week as traders said the ECB intervened to buy government bonds on the secondary market. "They're buying five-years and 10-years in Portugal, whatever people are offering really," one trader said. Another trader said the ECB appeared to be buying Greek and Irish bonds too. EU sources say the central bank has not yet bought Spanish government debt. The euro zone source said Lisbon would need between 50 billion and 100 billion euros ($64.5-$129.1 billion) in loans, similar to Ireland, which accepted an 80 billion euro EU-IMF rescue in December after a banking crisis caused by a burst real estate bubble lumbered the state with huge liabilities. German Finance Minister Wolfgang Schaeuble denied that Berlin was pushing any-

one to seek assistance, but he said it was defending the euro. Spanish Economy Minister Elena Salgado said Portugal did not need to apply for aid because it was meeting its commitments to reduce its budget deficit. And the European Commission said no discussion was currently under way on assistance for Portugal or any other country. But economists and market analysts said it was widely regarded as only a matter of time before high-deficit Portugal, with a stagnant economy that has lost competitiveness since joining the euro area, had to seek aid. "If market spreads keep rising, Portugal has little chance of escaping a bailout," said Laurence Boone, research director at Barclays Capital in Paris. Deutsche Bank economists Gilles Moec and Marco Stringa said in note that the Lisbon government would have to significantly "overissue" debt in the first four months to avoid a sharp deterioration in its cash position while Portuguese banks will face a peak in their refinancing needs in January and February. "It would be rational for Portugal to call for external help sooner rather than later," they said. European finance ministers are due to consider a more comprehensive response to the continuing debt crisis at their next monthly meeting on Jan. 17-18. A German Finance Ministry spokeswoman said Portugal was not on the agenda, but the

euro zone source said informal exploratory talks had already begun. A senior euro zone source said the comprehensive approach would involve: -implementing austerity measures to reduce fiscal deficits, which was already broadly on track; -- completing the repair of the European financial system with tougher bank stress tests due in the first quarter; - reinforcing the euro zone's financial safety net, which is subject to intensive negotiation with Germany; -- completing the reform of euro zone economic governance by pushing the required legislation through the council of EU finance ministers and the European Parliament; and -implementing structural economic reforms of labour markets and pension systems, on which the European Commission is expected to make country-specific recommendations this week. The toughest item on that agenda is the strengthening of the financial backstops because of German resistance to increasing the size of the 440 billion euro European Financial Stability Facility, EU sources say. Berlin has also opposed allowing it to be used more flexibly to provide standby credit lines or to buy government bonds or fund bank recapitalisation before a country hits the buffers. Portuguese Prime Minister Jose Socrates said last Friday his country had no need of outside assistance because it was ahead of schedule in reducing its budget deficit.Reuter

World central banks vow to tackle inflation threat BASEL: Leading central bank policymakers warned on Monday of the threat of resurgent inflation in fast-growing emerging economies and voiced their resolve to keep price pressures in check. Jean-Claude Trichet, speaking as chair of talks on the global economy at a Bank for International Settlements meeting, said inflationary pressures were weaker in the developed world, although the global economy has performed better than expected. "The inflationary threats present as some kind of general feature in the emerging world that is something that you do not see in the advanced economies," European Central Bank President Trichet, making clear he was speaking in his capacity as the meeting's chair, told a news conference. "This no time for complacency and the solid anchoring of inflation expectations is considered something that is important by all of us," he said, adding that rises in commodity prices "will have to be followed very, very closely." Central bankers were unanimous in believing that inflation should not be allowed to get out of hand, said Trichet. "We are all united in purpose." Recoveries from last year's global recession -- especially in emerging economies like China and India -- have bolstered price growth, but a surge in food prices is also raising concerns even in Western states where growth remains weak. Inflation in China raced to a 28-month high of 5.1 per cent in November, while euro zone inflation accelerated to 2.2 per cent in December -- exceeding the ECB's target for the first time in two years.-Reuters

CONTINUATION mine the unprecedented successes of our security forces and people. The elements are sloating such gimmicks to carry forward their vested agenda and demoralise our people and security forces as no other country can match Pakistan's army sacrifices in the ongoing war against terror, Gen Malik went on. The smooth and dignified return of IDPs to Swat and South Waziristan is another golden chapter of Pakistan army and this propaganda could not deter the government and army determination to wipeout the menace of militancy and terrorism from our soil once and forever. The Corps Commander said such propaganContinued from page 12 No #2 Rs3 lac out of which 10 per cent i.e. 400 tractors will be given da should be stopped.-Agencies Continued from page 1 to women applicants, she said. No #6 She said that Bank may finance 25 per cent to 50 per cent of the $8.1 billion as against $6.8 billion in the same period during the applicant's share of Rs6 lac against registration of the tractor in previous fiscal year, showing that it has enlarged 19.4 per cent durbank's name duly insured. Sharmila said the bank would ensure ing the period. Imports into the country during the period were people's empowerment, particularly the women support besides recorded at $19.12 billion against $15.99 billion recorded during supporting public private partnership in the coming years. It will the same period of last year, showing growth of 19.6 per cent. On also supplement government's efforts in rehabilitation of flood the other hand, the exports from the country surged by 19.7 per cent victims, she added. She said that 50 branches of the Sindh Bank by increasing from $9.19 billion 1HFY10 to $11 billion in 1HFY11. would be opened including 23 in district and two in divisional Continued from page 1 No #7 headquarters while others in various business centres in Sindh and other provinces. She said that more than 1000 staff in the first company had ever signed any accord with KESC (Karachi year would be appointed in the Bank that include 300 support Electric Supply Company) regarding supply of gas. Addressing a press conference at the central office of SSG, on staff, 350 graduates, 250 post graduates and 100 senior officers, which would further increase with opening of additional branch- Monday and answering various questions of media, he informed that KESC owed SSG a massive Rs23.07 billion, which it had es in the coming years. -NNI agreed to clear on the provision of 1100mmcf worth of gas supContinued from page 12 No #3 ply. He also informed that KESC was the sole consumer of SSG, Commenting over the Blasphemy Law, Aitzaz said that Article which the company did not want to lose, demanding that KESC 295-C should remain there. No Muslim can accept any change in should pay the Dec2010 bill until Jan 2011. He informed that Blasphemy Law as it is against their faith, he added. KESC was being supplied an overall of 60mmfc gas, which has He said that is was matter of grave concern that other nations been currently decreased due to gas shortage; but nevertheless, were developing and we were engaged in massacre over political KESC was still being supplied close to 30mmfc gas , rather than and religious issues. Aitzaz said that we should have to rise above the alleged total discontinuation. political and religious differences if we want to come at par with Continued from page 1 No #8 other developed nations. -NNI resolved soon. Federal Minister said textile export target of 25 billion dollar will be achieved at all costs, despite floods, gas and Continued from page 12 No #4 The JIT on the occasion also presented the medical report pre- electricity crises in the country. He said the textile industry would pared by District Hospital Rawalpindi and PIMS of Qadri in have been in a better position if floods had not hit the cotton growing areas of the country. The minister said that Pakistan had the which he was declared perfectly healthy. On this, the judge Malik Ikram Awan sent Qadri on 14-day judi- potential to meet the textile export target. He said that the issue of cial remand and adjourned the hearing till Jan 24. Earlier Qadri gas shortage was seven year old one. The government was taking under section 164 recorded a confession statement before the immediate steps to overcome power and gas crises. "The Neelam-Jhelum Project has been started and the Diamir Magistrate of killing Governor Salman Taseer. In his statement Bhasha Dam will also be started in a few months, for which land Qadri said that he had plotted to kill Salman Taseer for his statehas been acquired", he added. The minister said that no work on ment regarding blasphemy. Prior to this the defense layer had the power sector had been undertaken by former governments, objected that since his client did not record any confessional state- which made the circumstances serious. ment therefore no action can be taken against him. An officer of Continued from page 1 No #9 the JIT told that during investigation it was learnt that Qadri acted prejudicing the right of persons to religious freedom, particular alone in plotting and carrying out the act of killing. -Online mention must be made of the law against blasphemy in Pakistan," Continued from page 12 No #5 he told the ambassadors. It is rare for a pope to use a public speech South Waziristan a hub of economic activities. to specifically ask a country to change one of its laws, underscorElectricity of 50 villages of South Waziristan is being restored ing the concern he feels over threats to religious freedom, particwhile schools in areas where IDPs returned were opened for chilularly in predominantly Muslim countries. "I once more encourdren. In addition to repair and reconstruction of health infrastrucage the leaders of that country to take the necessary steps to abroture, Gen Malik said rehabilitation and reconstruction of infragate that law, all the more so because it is clear that it serves as a structure projects related to education, health, water supply and pretext for acts of injustice and violence against religious minoricommunication sectors is our top priority and are being constructties," he said. -Reuters ed on modern and scientific lines. Continued from page 1 To a question about news reports regarding abduction of 23 No #10 members of Mehsud tribe jirga from Razmak few days ago, the Hameed. President Zardari said that Pakistani entrepreneurs Corps Commander said that there is no truth in it and all members should invest in Sri Lanka and its government must provide incenhave reached home. He said a handful of western organisations tives, including repatriation of investment to attract investment and foreign media were indulging in malicious and baseless prop- from Pakistan. He also stressed for enhancing economic cooperaaganda to undermine our matchless successes and contributions in tion between the two countries, including exchange of gem and the war against terror. This malicious propaganda by a section of stone-cutting experts from Sri Lanka to Pakistan and Pakistani western media and NGOs about human rights violations during experts to Sri Lanka. He added," Pakistan can train police and operations against terrorists and militants is an attempt to under- intelligence officers of Sri Lanka". The President underlined the

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During the period of July to September, 1264 companies regularised their defaults under CRS through filing 6736 returns, while 1376 companies applied for easy exit under CEES. The total revenue generated during the first phase was over Rs25 million. During the extension phase of schemes, i.e. October to January 3588 companies filed overdue returns under CRS, and 516 companies applied under CEES, generating about Rs15 million. -NNI

11

International & Continuation

Tuesday, January 11, 2011

China's 2010 trade surplus dips, but little comfort for US BEIJING: China's global trade surplus narrowed in 2010 for the second straight year, giving Beijing grounds to rebuff US pressure for faster currency appreciation ahead of a visit to Washington next week by President Hu Jintao. The Chinese government can point to a 6 per cent fall in its trade surplus last year to $183 billion as the latest evidence it is making steady progress in rebalancing its economy toward domestic consumption, cutting reliance on exports and giving the world a lift through surging demand for imports. For Washington, however, this may be happening too slowly. Lawmakers will find little comfort in the data showing that apart from some heavy machinery and agricultural commodities, the United States provides few of the goods fuelling China's import growth. The mismatch meant the politically sensitive trade gap between the world's two biggest economies widened by 26 per cent in 2010 to $181 billion, providing fodder for critics of Beijing's tightly controlled currency regime. The overall trade data from December alone was consistent with the pattern since the outbreak of the global financial crisis more than two years ago. With China growing much faster than the rest of the world, imports outshone exports. "Imports are much stronger than we have expected, indicating that domestic investment and internal demand are mainly pushing up domestic consumption," said Wang Han, an economist at advisory firm CEBM in Shanghai. China's December exports rose 17.9 per cent from a year earlier and imports increased by 25.6 per cent, the customs agency said on Monday. That left the country with a trade surplus in December of $13.1 billion, well below analysts' expectations of $20 billion and the lowest in eight months. A smaller trade surplus means that less money is flow-

ing into China, making it less urgent for the central bank to mop up the excess cash in the economy that has pushed prices higher. China's full-year trade surplus was 38 per cent lower than its pre-crisis peak of nearly $300 billion in 2008. "This could reduce the pressure for yuan appreciation and also remove some pressure for the central bank to imminently launch aggressive tightening," said Wang Hu, an economist with Guotai Junan Securities. Along with quickening the pace of yuan gains, the government raised interest rates twice and banks' required reserves six times last year to rein in inflation that reached a 28month high in November of 5.1 per cent. The latest trade data was not a major factor for international markets, which were more focused on euro-area debt concerns. Shares in Shanghai fell a provisional 1.6 per cent in reaction to news that southwestern Chongqing was set to be the first city in the country to impose a property tax to clamp down on sky-high house prices. Chinese exports increased 31.3 per cent last year as global demand recovered, but the extent of China's outperformance was underlined by a 38.7 per cent jump in imports, fuelled by its voracious appetite for oil, iron ore and other commodities. Apart from farming product such as soy beans, the United States provides few of the commodities sought by China. Yet, China's bilateral surplus with the United States is overstated by the nature of the global processing trade, whereby Chinese factories assemble finished products out of intermediate goods produced in other countries. For example, when a television has a 'made in China' label on it, the computer chips and plasma screen in it may have been produced in Japan. "The United States imports a whole bunch of final goods

from China and China imports a bunch of materials from the rest of the world," said Ken Peng, an economist with Citigroup in Beijing. "If we assign all the parts to various countries, it (the bilateral gap) would be less obvious," he said. Critics in the United States say that China keeps the yuan cheap to give its exporters an unfair advantage in selling their wares to the world. These long-standing complaints have taken on added potency in the wake of the financial turmoil that has left the United States with an unemployment rate of 9.4 per cent. But Beijing has counselled for patience, repeatedly pledging to reduce its economy's reliance on exports and to seek a more balanced trade relationship with the rest of the world. It has let the yuan rise 3 per cent against the dollar since mid-June, when it lifted the currency from a nearly twoyear peg that cushioned the economy from the impact of the global financial crisis. Chinese President Hu will meet US President Barack Obama in Washington on Jan. 19, an event that is being billed as the most important state visit in 30 years. Although the two leaders will discuss the trade gap, analysts say the aim of the meeting will be to better the tone of the two countries' relationship after they locked horns last year over deadly North Korean attacks on South Korea and China's exchange rate policy. Having narrowed in 2009 and in 2010, there are signs that China's overall trade surplus could rebound this year. The export order sub-index in the country's purchasing managers' index, a leading indicator of export demand, has been very strong of late, Goldman Sachs economists Yu Song and Helen Qiao noted. And improvements in the US jobs market would also shore up global demand, Li-Gang Liu, an economist with ANZ in Hong Kong, said.-Reuters

need for increasing export of Sri Lankan tea to Pakistan and said that bilateral trade should be in local currency. Chamal Rajapakse said that Sri Lanka fully supported Pakistan's efforts and role regarding war on terror to curb terrorism in the country and around the world. He highly appreciated Pakistan's support extended to Sri Lankan army for combating against terrorism in the peninsula. -APP

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Addressing a press conference here on Monday after meeting of the party Nawaz Sharif said that a four member committee has been constituted which would be headed by Senator Ishaq Dar and would consist of members Sardar Mehtab, Pervez Rashid and Abdul Qadir Baloch. This committee would hand over our 10-point agenda to the government and would overlook the govt progress. Nawaz Sharif said that he did not give any ultimatum to the govt as this word does not exist in his dictionary. He said that he sees the word as a sign of arrogance. He said he had simply asked the govt to answer in 'yes' or no. He said that dictatorships have destroyed our country and now the martial law administrators should not fool the country anymore.-Online

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All major categories including HSD, Furnace Oil, Gasoline, Kerosene, LDO and JP showed a surge in consumption in the range of 3 per cent to 32 per cent. According to data, Mogas consumption remained robustly up during the month of December 2010 as it surged 32 per cent to 188 thousand tonnes against 142 thousand tonnes in December 2009. Similarly, High Speed Diesel (HSD) showed a hike of 13 per cent with sales of 634 thousand tonnes versus 560 thousand tonnes in December 2009. Likewise, sales of furnace oil have increased by 6 per cent to 690k tonnes in December 2010 from 650k million tonnes recorded in December 2009 as the country primarily dependent on FO for the electricity shortages. On the other hand, consumption of petroleum products falling by 3 per cent reached 9.7 million tonnes in 1HFY11 against 10 million tonnes in same period last year.

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showed positive growth in their volumetric sales by 13.8 per cent, 7.2 per cent and 21.2 per cent, respectively. On the other hand, Dewan Farooq Motors witnessed 88.4 per cent decline in their sales volumes.

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Peoples Party (PPP) and former Interior Minister Naseerullah Babar was offered in his home town Peer-Piai. Naseerullah Babar was born in Peshawar. His family is from the Babar tribe of Pashtuns and hails from the village of Pirpai district Naushehra. Babar is a former Pakistan army general and former Inspector General FC. He served as governor of Khyber Pakhtunkhwa from 1975-1977 and as interior minister during Benazir Bhutto's second government from 1993-1996. President Asif Ali Zardari has expressed his condolence over the death of veteran Party stalwart and former Governor, Federal Minister and Special Assistant to Prime Minister, Maj General (Retd) Naseerullah Babar and termed his death a great loss for the Party and the nation. Paying glowing tributes to former Interior Minister, the President said that the late Naseerullah Babar worked closely with both Shaheed Zulfikar Ali Bhutto and Shaheed Mohtarma Benazir Bhutto and was a trusted confidant of both martyred leaders of the Party. In a condolence message to the widow, he said that Naseerullah Babar was a fearless and dauntless leader who belonged to that rare breed of politicians who were fast becoming extinct.-Agencies

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up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon. "It's certainly a valid concern," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "But they all just go away, you ever notice that? They just throw some money at it, and everything is fine, but eventually it won't be." Topping the list of deals announced on Monday, Duke Energy Corp (DUK.N) agreed to buy Progress Energy Inc for $13.7 billion in stock. DuPont plans to buy Danisco, a Danish food ingredient firm, for $5.8 billion. Shares of Progress slid 2 per cent to $43.81, and Duke fell 2.1 per cent to $17.42. DuPont, a Dow component, fell 3.4 per cent to $48.06. Markets had advanced recently ahead of the upcoming earnings season. Last week the Dow and S&P notched a sixth straight week of gains, while the Nasdaq rose 1.9 per cent. But the benchmark S&P 500 was on track for its third straight session of declines, its first three-day losing streak since late November. The Dow Jones industrial average fell 73.11 points, or 0.63 per cent, at 11,601.65. The Standard & Poor's 500 Index lost 6.50 points, or 0.51 per cent, at 1,265.00. The Nasdaq Composite Index shed 16.30 points, or 0.60 per cent, at 2,686.87. Strayer shares plunged 22.2 per cent to $119.21. Corinthian Colleges Inc tumbled 12.3 per cent to $4.63, and Apollo Group Inc lost 5.8 per cent to $35.78. General Electric Co was a bright spot, up 1.4 per cent to $18.68, after UBS raised shares of the largest US conglomerate to "buy" from "neutral" and added the stock to its US "key calls" list.-Reuters


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RIAZ NEWS AGENCY Cell # 0333-5373137

Tuesday, January 11, 2011

SECP amnesty schemes get big response ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) received an overwhelming response from the corporate sector to the companies regularisation and companies easy exit schemes. According to a press release, the schemes not only generated huge revenue but also enhanced the corporate compliance rate and have thus opened avenues for future revenue generation. See # 1 Page 11

Taseer murder ISLAMABAD: Federal Minister for Water and Power Raja Pervaiz Ashraf presiding over 86th round meeting of PPIB to review the progress of ongoing and new power projects.-Online

Corps Commander Peshawar addresses Army's seminar

Pak blames foreign hand for Fata unrest PESHAWAR: Corps Commander Peshawar, Lt Gen Asif Yasin Malik said Monday that foreign hand was involved in the prevailing unrest in Fata, and Pakistan Army with the support of local people would thwart the nefarious designs of the anti-state elements. Talking to reporters before addressing inaugural session of five-day seminar on 'Human Rights Laws and Rules of Engagements' of awareness programme, organised by Pakistan Army, as part of its

77 die, 26 survive in Iran jet crash TEHRAN: Rescuers were on Monday searching for at least one person missing after an Iran air passenger jet crashed in bad weather in northwestern Iran killing 77 people and injuring 26, state media said. "Unfortunately, 77 of our citizens were killed, 26 were injured who have been hospitalised and one person is reported to be missing," Iran's state television said Monday, citing a report from a police information centre. "A rescue team is searching for the missing person," the report added. The Boeing 727 airliner crashed near the city of Orumiyeh on Sunday, an official in West Azerbaijan province said, quoted on state television's website. Television footage of the crash showed the airliner broken into three pieces and buried in thick snow. Some corpses were shown covered in blankets laying on snow near the plane's debris. Iran's ISNA news agency on Monday gave the same casualty figures as state television but said two passengers are missing. "This flight had 105 persons on board, 94 passengers and 11 flight crew. Based on the latest figures due to last night's aviation accident 77 people were killed, 26 wounded and two person are missing," the head of crisis committee of Iran's road and transportation ministry Ahmad Majidi told ISNA. "We do not know if the two missing are among the fuselage's debris, or in hospital, or dead. We will find out about them today," he added. Majidi said it appeared that bad weather had played a role in the crash. "Based on the evidence, the plane's captain could not land at Orumiyeh airport due to bad weather conditions and he decided to return (to Tehran)," he said. "But for unknown reasons the plane crashed around five miles (eight kilometres) from the airport." -Reuters

education and capacity building programmes for army officers and jawans here at Corps Headquarters, the Corps Commander said that foreign hand was helping the anti-state elements to destabilise Fata for their vested interests. Involvement of foreign hands in Fata could not be ruled out as we have solid proof and evidence in this regard which have been submitted to the concerned quarters for taking necessary action, he added. Asked about recent terrorism

incidents in Mohmand Agency, the Corps Commander said there are some pockets where miscreants take law in their hand and action against them is going on. The terrorists come from across the western border for disturbing law and order in Pakistan's tribal areas and return back to war torn country and take refugee there, he maintained. To a question regarding uplift work in South Waziristan Agency, the Corps Commander said development projects are

in advance stage and on completion would bring positive changes in lives of the downtrodden tribesmen. Work on road projects worth $150 million is underway in South Waziristan and would be completed by June this year. Gen Malik said a strategic corridor linking South Waziristan with Karachi, Tank, DI Khan and onward to Afghanistan was being established besides a cross section at Angor Adda that would make See # 5 Page 11

Qadri says 'acted alone' RAWALPINDI: Assassin of late Governor Punjab Salman Taseer, Mumtaz Qadri has confessed to his crime before a special Anti-Terrorism Court and has been sent to Adiala Jail on 14-day judicial remand. Mumtaz Qadri was presented before a special Anti-Terrorism Court and Judge of Capital Territory Area Islamabad Malik Ikram Awan on Monday one day prior to expiry of his five days physical remand. The Joint Investigation Team told the court that there was no need to further interrogate Mumtaz Qadri therefore he should be sent to jail on judicial remand. The team further told the court that if needs arises to interrogate from Qadri they would seek for physical remand again. See # 4 Page 11

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Sindh Bank bids modern services KARACHI: Advisor to Sindh Chief Minister Sharmila Farooqui said Monday that the Sindh Bank (SB) would provide agriculture, livestock and fisheries' loans on easy terms besides offering other financing facilities. "The farmers will be facilitated to get agriculture loans on easy terms and each farmer will be provided with ATM Card, which could be used to withdraw the cash from ATM up to 20 per cent of the loan, she said while talking to media at Complaint Cell at the Sindh Chief Minister House here. The advisor said that the farmers would also be given facility to order commodities, seeds and fertilisers through SMS from designated suppliers. "The suppliers upon receiving the SMS/ instructions from the Sindh Bank will ensure the

proper delivery of goods at farmers' door step. Suppliers account with Sindh Bank will be automatically credited upon delivery/ confirmation through SMS," she said. She informed that the Bank's expected loan disbursement of Rs12 billion has been set during the year 2011 in various sectors while unskilled and semiskilled workers numbering at least 6000 will be employed. "It is assumed that the borrowers in the small scale industry availing loan of up to Rs10 million will employ at least five persons who would support their families to a large extent," she said. She said that Sindh government was going to subsidise the purchase of tractors to 4000 farmers through balloting. "Total cost of a tractor being Rs9 lac including a subsidy of See # 2 Page 11

Aitzaz sees end to political row Says not aspiring for Punjab Governorship ISLAMABAD: Pakistan Peoples Party (PPP) leader and former president Supreme Court Bar Association (SCBA) Chaudhry Aitzaz Ahsan said Monday he has not been offered the post of Punjab Governor and remarked that there are several senior and competent party leaders available for the slot. Talking to media outside Supreme Court, Chaudhry Aitzaz Ahsan said political cri-

sis is going to end as Prime Minister Syed Yousuf Raza Gilani and PML-N Chief Mian Nawaz Sharif have agreed to join hands to work together for betterment of country and its people. He said that President Asif Ali Zardari, the co-chairman of PPP would appoint the Punjab Governor, as detailed consultation were being made within the party before taking the final decision. See # 3 Page 11

Agosta Submarine Scam

Grafters won’t go scot-free: CNS ISLAMABAD: Chief of the Naval Staff Admiral Noman Bashir Monday again made it clear that if more names are disclosed in Agosta Submarine scam then undoubtedly we will take action against them. Chief of the Naval Staff Admiral Noman Bashir expressed these views during a quick chat with media after participating in a simple but dignified ceremony held in Islamabad. Chief of the Naval Staff Admiral Noman Bashir opine that at the moment Agosta Submarine scam is under formal hearing in French court, adding all the culprits involved in the heinous crime has been given punishment, urging if more names are on the cards then we will take further action in this regard.

We will not spare culprits involved in sheer corruption, he said. Regarding Afghanistan, Naval Chief went to say that instability in Afghanistan is directly linked to Pakistan. Admiral Noman said that Pakistan Navy was fully prepared to protect maritime territory of the country. Admiral said he would strive to the best of his capacity to live up the expectations of the leadership and the nation while performing his duties. Replying to volleys of questions, Naval Chief said that Pakistan does not wishes or even thinks of any kind of confrontation between Iran and United States, adding Iran is our brotherly country hence we have no rancor against it. -Agencies

During 2010 total volume reaches Rs185bn

NCEL volumes surge sevenfold ISLAMABAD: The National Commodity Exchange Limited (NCEL) reflected a remarkable growth last year with total traded volumes of approximately Rs185 billion in 2010. The total volume last year was Rs28 billion which translates into an increase of 660 per cent in traded volumes over last year, said a press release issued here on Monday. This exponential growth was achieved as more and more institutional and retail investors turned towards the commodity markets. The addition of commodities in the investment portfolio offered an opportunity for diversification as well as hedge against inflation and the slow pace of the equities market. As more and more investors recognised the importance of commodities trading the numbers kept multiplying, while the main focus was on gold trading, volumes also picked up significantly in the silver and crude oil contracts. The gold contracts showed marked increase from about 87,000 contracts in 2009 vis-Ă -vis approx 642,000 contracts in 2010. This rise was on the back of increasing

gold prices in the year and more reliability of gold as a safe investment option with comparatively less volatility than equities. The silver and crude oil contracts showed encouraging results since their listing on the exchange in the year 2010. During the year NCEL introduced new contracts of one tola gold and new products Crude Oil and Silver on the tradable commodities list. The addition provides further depth in the market and liquidity to its platform as well as creating new opportunities for trading and advanced hedging strategies. Another worthwhile addition was the launch of a Gold Fund with KASB Funds which is the first of its kind in Pakistan. Samir Ahmed, MD and CEO NCEL highlighted, "The year 2010 also brought in a wave of new memberships from brokers who wanted to offer commodities trading to their clients taking the memberships to 310 on the Commodity Exchange" he further added, "the NCEL surpassed the combined trading volumes of the Lahore and Islamabad stock exchanges which is quite an achievement in such a short time." -Agencies

Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.

The Financial Daily-Epaper-11-01-2011  

The Financial Daily Epaper

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