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International Karachi, Tuesday, January 18, 2011, Safar-ul-Muzaffar 13, Price Rs12 Pages 12

HBL chief upbeat on new Hajj, Umra A/Cs

Tunisian PM announces release of all political prisoners Eighteen dead in Hangu bus blast

See on Page 12

Court bails out Shahzain

See on Page 12

See on Page 2 Economic Indicators Forex Reserves (8-Jan-11) Inflation CPI% (Jul 10-Dec 10) Exports (Jul 10-Dec 10) Imports (Jul 10-Dec 10) Trade Balance (Jul 10-Dec 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Dec 10) Foreign Invest (Jul 10-Dec 10) Revenue (Jul 10 Dec 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Nov 10)

GDP Growth FY10E Per Capita Income FY10 Population

4-day World Future Energy Summit

$17.09bn 14.61% $10.98bn $19.13bn $(8.15)bn $(504)mn $5.29bn $1.05bn Rs 638bn $58.41bn Rs 5348.6bn $287.9mn -4.69% 4.10% $1,051 174.90mn

Zardari zeros in on green energy Urges for global efforts to develop renewable energy

Portfolio Investment SCRA(U.S $ in million)

208.49 13.10 16.38 3057

Yearly(Jul, 2010 up to 14-Jan-2011) Monthly(Dec, 2010 up to-14-Jan-2011) Daily (14-Jan-2011) Total Portfolio Invest (7 Jan-2010)

NCCPL (U.S $ in million)

FIPI (17-Jan-2011) Local Companies (17-Jan-2011) Banks / DFI (17-Jan-2011) Mutual Funds (17-Jan-2011) NBFC (17-Jan-2011) Local Investors (17-Jan-2011) Other Organization (17-Jan-2011)

4.25 2.32 -2.94 -1.34 0.34 -2.80 0.18

Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones

Close 12,681.94 10,502.86 24,156.97 18,882.25 2,690.07 2,706.66 5,987.46 11,787.38

Change 148.40 3.82 126.26 21.81 23.13 84.68 14.61 55.48

GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)

$.Price PKR/Shares 2.60 111.10 26.00 222.20 2.00 42.73 1.70 36.32 10.41 35.59

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

12-Jan-2011 12-Jan-2011 12-Jan-2011 29-Nov-2010 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011

13.37% 13.50% 13.73% 14.00% 13.31% 13.59% 13.74% 14.09% 14.19% 14.23% 14.25% 14.26% 14.60% 14.79% 14.96%

Commodities *Crude Oil (brent)$/bbl 97.87 *Crude Oil (WTI)$/bbl 91.20 *Cotton $/lb 141.44 *Gold $/ozs 1,361.00 *Silver $/ozs 28.32 Malaysian Palm $ 1,183 GOLD (NCEL) PKR 37,836 KHI Cotton 40Kg PKR 10,610

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 84.50 Canadian $ 86.85 Danish Krone 14.00 Euro 113.80 Hong Kong $ 10.90 Japanese Yen 1.016 Saudi Riyal 22.87 Singapore $ 66.10 Swedish Korona 12.40 Swiss Franc 86.80 U.A.E Dirham 23.37 UK Pound 135.80 US $ 86.05

Sell (Rs)

85.50 87.50 14.70 115.50 11.00 1.042 23.05 67.10 12.50 87.40 23.55 137.00 86.35

Inter-Bank Currency Rates Symbols

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

Buying TT Clean

Selling TT & OD

84.25 86.33 15.28 113.81 10.98 1.030 22.76 66.13 12.77 88.50 23.24 135.29 85.46

84.45 86.53 15.32 114.08 11.00 1.032 22.81 66.29 12.80 88.71 23.29 135.61 85.64

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

16°C 27°C 18°C 16°C 10°C 17°C

MIN

-01°C 07°C 03°C 02°C -03°C 01°C

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ABU DHABI: Pakistan's President Asif Ali Zardari speaks during the World Future Energy Summit at the Abu Dhabi National Exhibition Centre. Reuters

Rekodiq case

Foreign co gets contempt notice ISLAMABAD: Supreme Court of Pakistan on Monday issued show-cause notices to a foreign company for contempt of court over its failure to submit reply in the copper and gold mine case in the Rekodiq area of Balochistan and asked it to submit the reply by tomorrow (Wednesday). The three-member bench headed by Chief Justice Iftikhar Mohammad Chaudhry, and including Justice Ghulam Rabbani and Justice Khalil-urRehman Ramday expressed its anger and dissatisfaction on the concerned departments for not taking interest in the case and said that: "the whole world is seeing this important case but the government departments are not taking interest in it." During the hearing, Tariq Asad counsel for the applicants Maulana Abdul Haq and Ihsanullah Waqas told the

bench that the feasibility report of the project has not been prepared as yet, without which the project could not be started. Abdul Hafeez Pirzada, counsel for the foreign company Tethyan (TCC) told the court that no document had been hidden during hearing of the case in the Balochistan High Court and the company is ready to submit reply. Tariq Asad, counsel for the applicant said that the company has failed to honor its promise of providing jobs to the local people. The bench asked the Attorney General why the federal government failed to submit reply pointing out that the Rekodiq case is very important. Zafarullah, chief of Watan Party submitted before the bench that the case is in the court but the company is See # 9 Page 11

SC orders to submit bank draft today

RPP told to cough up Rs1.8bn in 24hr ISLAMABAD: Supreme Court of Pakistan on Monday granted the Techno Power Company 24 hours more to submit Rs1.8 billion in the rental power case. Lawyers of the rental power company presented a cheque in the court as the hearing started, but the court refused to accept it and ordered the company to submit a bank draft. Counsel for Techno Power Sahiwal apprised the Supreme Court that board of directors had held a meeting and an approval was made to refund Rs1.8 billion advance sum including mark up. Raja Anwar-ul Haq, counsel for company told a three-member bench headed by Chief

Justice Iftikhar Muhammad Chaudhry that since a huge money was involved so a meeting of BoD was called which made the approval. He assured the bench that pay-orders would be produced before the Supreme Court in due course of the day. The bench would resume hearing today. The Company was agreed to return an amount of Rs1.8 billion including mark up which had been taken as advance payment. The Company failed to generate the required power capacity despite lapse of twoyear. Earlier, the bench was apprised that a total of 19 RPPs See # 8 Page 11

ECO already OKed; ministry yet to settle modalities

Govt in two minds over auto imports ISLAMABAD: The issue of used cars' import is being discussed thread bear at the Ministry of Commerce to come up with an amicable solution and formulate a comprehensive policy by considering demands and recommendations of all stakeholders, it was learnt. "We have to strike a balance between imports and local car production to normalise the prices and ensure that the end consumer gets relief," a top official of the ministry told APP here on Monday. It may be recalled that the

Economic Coordination Committee (ECC) had given a go-ahead signal to import of up to five years' old cars on December 8 from earlier importing three years old cars. The decision to increase the model age-limit for the import of used cars up to five years was taken after issuing a number of warnings to the car assemblers in the country to slash prices of their made cars with an aim to facilitate the common man. However, the ministry of See # 7 Page 11

MQM tables anti-arms bill in NA ISLAMABAD: Muttahida Qaumi Movement (MQM) Monday submitted a bill in National Assembly (NA) to make the country free from illegal arms and ammunition. "We have not only proposed a solution, how to deweaponise the country, in the bill, but also have underlined practical steps needed to be taken in this regard," MQM Parliamentary leader in National Assembly Farooq Sattar told a press conference here after submitting "Deweaponization of Pakistan Bill 2011" in NA. He said kidnapping for ransom and increasing incidents of murder and other crimes are posing threats to national security. Sattar said MQM is a peace loving party and wants peace and harmony in the country. He called for imposition of countrywide ban on manufacturing, keeping and using of illicit weapons. "Pakistan is facing extreme security challenges," he said and asserted that deweaponisation is the only way to ensure peace in the country. He said MQM has taken a bold step by introducing the bill in NA. Incidents of violence, killing, kidnapping for ransom and suicide and terrorist attacks are turning into guerrilla wars in the country. He said it is need of the hour to take measures for imposition of ban on unauthorised manufacturing, trafficking, possession and use of illegal arms and ammunition. He urged the parliamentarians to review the See # 5 Page 11

Ogra told to get tough on oil firms ISLAMABAD: National Assembly's Standing Committee on Petroleum and Natural Resources unanimously recommended the Ogra to strictly act against the oil companies violating the rules and regulations and annul their licenses. Standing committee held its meeting here in ODGCL Headquarters Islamabad on Monday chaired by the Chairman Committee Sheikh Waqas Akram, which was attended by the authorities of Ogra, Sui Northern Gas, Sui Southern Gas, Petroleum Ministry and OGDCL. The Chairman Committee ordered Ogra to ensure strict action against oil companies violating the code of conduct and cancel their licenses. Ogra is further directed to submit its report in this regard. -Online

ABU DHABI: President Asif Ali Zardari Monday called for a global partnership on renewable energy, particularly solar and wind resources involving both public and private sector, to ensure availability of affordable energy to the common man. In a keynote address at the opening session of the four-day World Future Energy Summit, the President said, production of energy and its availability has become the driving force of economics and ever increasing demand was sustained by greater use of the element. He said high-level participation of world leaders, policymakers, entrepreneurs, scientists and researchers in the summit, is indeed a tribute to the vision for environmental conservation pioneered by late Sheikh Zayed bin Sultan Al Nahyan, a great friend of Pakistan and a widely revered statesman. On his arrival at the venue of the summit, the President was warmly received by Crown Prince Shaikh Muhammad Bin

Citizen Damage Compensation

Pak urges UAE to release $270mn ABU DHABI: President Asif Ali Zardari and UAE's Prime Minister Shaikh Muhammad Bin Rashid Al Maktoum here Monday reaffirmed their resolve to further consolidate deep-rooted brotherly relationship between Pakistan and the UAE for the mutual interest of their people. Sheikh Mohammad who is also vice president of UAE and ruler of Dubai expressed his warm greetings to President Zardari and hoped that his frequent interaction with the UAE's leadership will go along way in boosting their bilateral ties and promoting greater understanding on regional and See # 2 Page 11 Zayed. The President noted that the UAE has demonstrated to the world, and to the Muslim Ummah in particular, that trade and commerce, innovation and invention, ideas and enterprise, can make a desert bloom. The UAE is the model for the future, and the city of Masdar is its crowning jewel. This is the moment of the beginning of a new era. The future is in our hands, he added. About the development of renewable energy, the President said attempts have been made

‘Resolution of National Issues’

Shaikh starts consensus drive

in the past, to produce cleaner fuels, bio-fuels, but the cost to produce that energy was sometimes more than the energy it would in-turn produce. The intent was positive, even if the direction turned out to be wrong. It now seems that the choice of corn as the source material was not the wisest since the land and water taken away from food security has led to hunger and instability in the poorer countries. He said the failure of corn is not necessarily the failure of See # 3 Page 11

Coaction must for Khi peace: Malik ISLAMABAD: Interior Minister Rehman Malik said that

Economy on the up, Shaikh tells Kuwaiti investors all parties would have to put in I S L A M A B A D / K U WA I T: Five-member committee led by Minister for Finance Dr Abdul Hafeez Shaikh would start meetings with the leadership of all the political parties in the Parliament to obtain proposals for resolving national issues raised on the floor of both the houses of Parliament from Tuesday. Ministry of Finance Sources told APP that in this regard, the Committee would hold three meetings with leadership of the political parties in the Parliament. The first meeting would be held with the representatives of ANP and MQM. The second meeting would be

held with PML (Likeminded) Senator Salim Saifullah Khan while the third meeting on the same day will be held with Senators Muhammad Ishaq Dar, Pervaiz Rashid and Sardar Mehtab Abbasi of PML-N. It may be mentioned here that Prime Minister Syed Yousuf Raza Gilani has constituted a five-member committee to establish contact with the leadership of all the political parties in the Parliament to obtain proposals for resolving national issues raised on the floor of both the houses of Parliament. The members of the committee are Abdul Hafeez Sheikh, Minister for Finance, Raja See # 4 Page 11

E&P sector net may grow 32pc Ahmed Siddique KARACHI: Oil & gas exploration and production (E&P) sector's profitability is likely to grow 32.5 per cent during the first half fiscal year 2010-011, analyst at The Financial Daily said. He said cumulative earnings of the listed companies' i.e. (OGDC, PPL & POL) are projected to increase by Rs13.5 billion to Rs55.07 billion in the 1HFY11 compared with Rs41.56 billion during the corresponding period of last year. The main reasons behind this likely-surge in earnings are hike in average price of crude oil during 1HFY11 by 9.4 per

cent YoY to $79.21 a barrel (Arab Light), raise in well-head gas prices up to 3.8 per cent, increase in oil & gas production by 1.2 per cent in 1HFY11 and surge in other income by 21.35 per cent to Rs3.99 billion primarily due to higher income received from investments in banks due to higher interest rates and realisation of dividends from associated companies. Analyst added PPL is likely to be the top performer with an estimated 64.2 per cent YoY increase in earnings (EPS: Rs13.40) followed by POL by 54.1 per cent (EPS: Rs21.62) and OGDC by 19.1 per cent See # 10 Page 11

USC CY10 sales swell to Rs60bn ISLAMABAD: The annual sale at Utility Store Corporation (USC) has jumped from Rs2.5 billion some two years back to Rs60 billion during 2010. "Our annual as well as monthly sales at USC has been constantly increasing as we offer quality with low prices on different items compared to open market at our more than 5000 stores which is also a sign of the confidence of our valued customers", Javaid Manzoor Ghauri, General Manager Public Relations and Planning Division of the organisation told See # 6 Page 11

joint efforts for ensuring peace and harmony in the city. In his statement issued Monday, he praised the vigilance and effective control of police and Rangers in maintaining law and order in Karachi, while he also expressed his full satisfaction over recently introduced aerial surveillance, spot-checking and patrolling. Expressing his strong resolutions to maintain peace and harmony, law and order in Karachi, he vowed not to let anyone dare challenge the writ of the government, and ensured to foil the nefarious negative and wishful whims of miscreants. He announced that very important and effective information had been gained from arrested miscreants and target killers; factors which were proving to be quite helpful in controlling the wayward situation. He said that, following the visions and strategies of President and PM, efforts were underway to make Karachi a city of peace, harmony and brotherhood, and he also thanked Ulema for ensuring their cooperation in better interests of Nation. -Agencies

Cargo handling at Port Qasim comes to a halt Monitoring Desk KARACHI: The cargo handling operation at Port Qasim - country second largest cargo terminal - remained disturbed Monday as hundreds of labourers blocked the terminals main gates in protest. According to the media sources, workers of PQTA have demanded raise in their payscale, whereas administration has refused to entertain their demands. After the refusal workers closed the main gates of the terminal thus disturbing the cargo-handling procedures badly. Furthermore, Hundreds of labourers were also stuck up at the Port due to closure of main gates.


2

Tuesday, January 18, 2011

BD to host 4th SAARC Business Leaders Conclave ISLAMABAD: The Leaders of the South Asian Business Community (SABC) have decided to convene the 4th SAARC Business Leaders Conclave (SBLC) on April 30 at Dhaka, Bangladesh It would be organized by SAARC Chamber of Commerce and Industry in collaboration with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and all the National Chambers and Federations of South Asian countries, says a press release. The Friedrich Nuamann Foundation (FNF), New Delhi, India shall be the main partner of the Conclave. The decision came after a meeting held here under chair of A. K. Azad, President FBCCI in presence of SAARC CCI President Annisul Huq and immediate former President Tariq Sayeed who also heads the Finance and Accounts Committee of SAARC-CCI. The meeting convened on the request of Secretary General SAARC CCI Iqbal Tabish, was attended by five Vice Presidents including Vikramjit Singh Sahney, Senior. Vice President (India), Mr. Iftikhar Ali Malik (Pakistan), Mr. Kashem Khan (Bangladesh), Pradeep Kumar Shrestha (Nepal),. Kosala Wickramanyake (Sri Lanka) and Executive Committee members of SAARC CCI from Bangladesh.-NNI

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

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

LCCI demands

India be stopped from using water as tool against Pak Staff Correspondent

BADIN: Former Prime Minister and PML(N) leader Mian Muhammad Nawaz Sharif addressing a public meeting on the eve of 24th death anniversary of late leader of Hari Tehrik, Shaheed Fazil Rahu, at Rahu ki District.-Online

Railway fares to rise

Govt to put brakes on trains running in loss LAHORE: General Manager Pakistan Railways, Muhammad Ishfaq Khattak has said that some short route trains running in loss would be closed in the next few days and consultations regarding increase in railway fares were also underway. Talking to a private TV channel here on Monday, Ishfaq Khattak said that PR was in dialogue with

Finance Ministry to close short route trains causing financial loss and also overhauling the overall performance of the department. However, he said that long route trains which were running in deficits would not be closed. He said that Pakistan Railways, in order to continue its operations, would

have to increase fares of all routes soon. The General Manager said that financial loss could be lowered through increasing number of goods trains and hike in fares. It should be mentioned that a number of trains on short and long routes have already been suspended due to financial losses.INP

Pak cos participate in German trade fair ISLAMABAD: As many as 242 Pakistani companies participated in the textile and carpets trade fairs in Germany in January. The Pakistani exhibitors participated in the Heimtextile Trade Fair held in Frankfurt from January 12-16, and Domotex Trade Fair of carpets in Hanover from January 14-17, that concluded on Monday. Pakistan's Ambassador to Germany, Shahid Kamal visited both the exhibitions and

met with the Pakistani exhibitors, says a message issued by Pakistan embassy in Germany. He was apprised of issues being faced by them and the energy crisis in Pakistan affecting their production adversely. The Ambassador assured them that their concerns and problems would be conveyed to the authorities concerned for appropriate action. He urged them to spend a fair portion of their

$2bn lined up for sewage treatment plants KARACHI: National Water Engineering, the only sewage/wastewater treatment plants' accredited technology provider in Pakistan has announced that through the UN Kyoto Protocol Act, company has lined up foreign environmental investment companies who are willing to invest US$2 billion to develop small to mega sewage-wastewater treatment plants in Pakistan. According to Jamal Hassan, CEO of National Water Engineering, "the company has been granted approval from several foreign environmental Investment companies to develop small to mega sewage-wastewater treatment plants in Pakistan and we have identified 7 keys areas for development of

treatment plants in Sindh, most of these areas are Industrial areas where toxic effluent is dumped without being treated, and in return these toxic effluent wastewater is used for agriculture and consumable purpose, hence this is the cause for majority of viral and untreatable diseases in Sindh. National Water Engineering has identified key areas in Sindh and has submitted proposals to various government departments of Sindh. It is believed that development of over 100 sewage-wastewater treatment plants are vital for the survival of key agricultural land in Sindh, or else in the next two years Sindh's main soil components will deplete drastically.-PR

income on Research and Development as only innovative and trendy products could keep you in the market in this rapidly changing world. Shahid Kamal also met with the Director of the Board of Frankfurt Messe and Incharge of Heimtextile Fair Detlef Braun and exchanged views on the arrangements and facilities being provided by the management to the exhibitors.APP

3 MEMBERS REAPPOINTED

Rahat Kaunain to head CCP TFD Report ISLAMABAD: The Federal Government has reappointed Rahat Kaunain Hassan, Abdul Ghaffar and Dr Joseph Wilson as Members of the Competition Commission of Pakistan and appointed. Mueen Batlay as a new Member of the Commission. A notification issued by the Finance Division in exercise of the powers conferred by Sub-Section 14 and Section 17 of the Competition Act, 2010 also stated that Ms. Rahat Kaunain Hassan has been appointed Chairperson of the Commission as notified on 26 July 2010. Section 17 specifies a term of three years for the office of the Chairman and Members of the CCP. The Members have been reappointed with effect from the date of expiry of their first terms.

LAHORE: The LCCI President Shahzad Ali Malik has said that Indian decision to allow its farmers in East Punjab to use water without tariff is a well thought-out conspiracy to turn Pakistan land totally barren and the government should seek world powers intervention to stop India from using water as tool against Pakistan. According to handout issued here on Monday, the LCCI President Shahzad Ali Malik said that Indian move shows that Delhi has intensified its water war and is out to destroy Pakistan economically by inflicting colossal loss on Agriculture of the country. The LCCI President

feared that if the issue is not addressed immediately then the days are not very far when the agrarian economy of Punjab, the food basket of the country, particularly, would be destroyed. "Fast extraction of water in Indian Punjab is a grave issue and the government should use the influence of global players to get this issue resolved amicably." Shahzad Ali Malik said that the water level in the areas bordering India has alarmingly gone down and only because of this reason the farmers are forced to install tube-wells much deeper. Pakistani farming community is in deep troubles as they need a lot of money to pump out water through costly electricity. He said that the Lahore

Chamber of Commerce and Industry had already established Pakistan Water Front with an objective to invite government's attention towards Indian moves aimed at using water as tool against Pakistan. The Lahore Chamber of commerce and Industry has also prepared a comprehensive programme to create awareness among all the stakeholders on water issue. The LCCI President urged the government to initiate work on Kalabagh Dam without any further delay as it is not an issue of Punjab alone but it is matter of country's survival that is at stake due to fast depleting water resources. He urged the civil society to play its role to save Pakistan.

HBL launches Hajj, Umra acounts Special Correspondent KARACHI: Habib Bank Limited has launched HBL Al-Ziarat Account for intending Hajj and Umra pilgrims with Takaful coverage, a unique product among the Islamic modes of banking available in the market. A launch of this new product was held at Habib Bank Plaza on Monday where the President Zakir Mahmood along with Islamic Banking Head Mohammad Aslam. They hoped to to have a positive and encouraging response from the pilgrimgs. HBL being the largest private sector bank in thec ountry with over 1400 branches at home, HBL Islamic Banking has also

increased its operation to 19 Islamic Banking dedicated branches across Pakistan offering Islamic Banking products and services from 206 branches of commercial retail, commercial and corporate centres directly linked to the dedicated Islamic Banking branch of the concerned region. HBL having the concept of Islamic economic system with welfare of the society being the main principle introduced this account and hoped that the noble cause and deeds always being rewarded by Almighty Allah. The bank's officials said that it is an immense desire of every Muslim to perform Umra and Hajj. However, in the current environment

of high cost it is not possible for every one to perform this noble religious ritual whereas the Habib Bank's new account would enable them to avail this facility which is initially being offered through 225 branches of the bank. More branches would be added to this facilitation. Under this product the intending pilgrim would join the saving scheme by opening HBL Al-Ziarat Account with any of these branches and this account will be opened in the Islamic Banking branch of HBL through either dedicated Islamic Branch or through 206 spoke branches nearest to the intending pilgrim. see conti # 1, page 11

Dell, Intel launch Alienware in Pakistan

Sharmila directs treatment for Marvi

TFD Report

TFD Report

KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has taken a notice of the ailing daughter ISLAMABAD: Ambassador of the Republic of Tajikistan to Pakistan Marvi of Folk Singer Zubaydullo N Zubaydov addressing a press conference in the federal Zulfiqar Lund and directed capital.-Online District Coordination Officer Agha Wasif Ali to make proper arrangements to send to Marvi to Karachi for further treatment. She took notice after a private T.V Channel report about the illness of Marvi.She said that Folk artists were a great treasure of the nation and the present Democratic Government would take all possible measures to ISLAMABAD: education, Tajik-Pakistani Business Tajik medicine, redress the problems of ambassador to Pakistan transport and communica- Forum which was attendFolk Artists. Zubaydullo N. Zubaydov tions, trade, tourism and ed by 66 business delesaid that impartial action combating international gates from Pakistan, should be taken against terrorism, as well as an including Minister of any illegal Tajik students implementation of bilater- State, Chairman of Board of Investments of the if they are present in reli- al agreements. He said that his country Islamic Republic of gious seminaries in Saleem Pakistan adding that his would enhance coopera- Pakistan country would provide tion with Pakistan in Mandviwala He said Moreover, a every possible coopera- defense, anti terror sectors tion for taking Pakistan and if any Tajik student is number of Pakistani found illegally staying in nationals and tourists who out of its energy crisis. Addressing a press con- any religious seminary in have visited or wish to ference here on Monday Pakistan than impartial travel to Tajikistan is sigthe Tajik ambassador said action should be taken nificantly increased. For instance, if in 2009 our that Pakistan and against them He said On 16 - 18 July, Embassy has granted 505 Tajikistan enjoy close cordial ties and major efforts jointly with the State visas, so we have issued on 810 visas in 2010, which have been focused on Committee deepening and expanding Investments and State also shows the growing mutually beneficial coop- Property Management of interest of the people of ISLAMABAD: UNIDO head of Agency Shadia Yousaf Bakhait, receiving a mosaic momentum prepared by the UNIDO-PASDEC trained Women entrepre- eration in the fields of the Republic of Tajikistan, Pakistan to our country.hydropower, investment, the Embassy organized a Online neurs from Minister of State for Industries, Dr Ayatollah Durani.-Staff Photo

Tajikistan to help Pak overcome energy crisis

KARACHI: Dell and Intel today collaborated to bring together an event that transpired into a never-seen-before kind of evening. This was the launch of the infamous Alienware laptops powered by a member of the Intel Core Processor Family and brought to the local bloggers community and media by Dell. The main aim was to engage, seek opinions and build relationships with people who are always abreast with the latest technological trends in the country. Alienware specializes in high performance gaming machines featuring 12way multitasking processing. Dell Pakistan introduced the M15x and M17x laptops to the Pakistani bloggers and gamers with the new Intel Core i7 mobile processors. The event was attended by Shahzad Aslam Khan, Country Manager Dell Pakistan and Afghanistan and Naveed Siraj, Country Manager Intel Pakistan. "Dell Pakistan constantly strives to provide its loyal customers with the best; therefore we are proud to unveil Alienware. For a growing market, well versed in the high-tech, Alienware is going to be a breath of fresh air. These machines will take over the local gaming PC market through sheer competence", said Shahzad Aslam Khan.


3

Tuesday, January 18, 2011 Top Economic Events

Euro down but rescue fund uncertainty drags Trading light as US markets shut for holiday LONDON: The euro fell broadly on Monday as hopes for an immediate increase in the euro-zone's bailout fund faded and investors reassessed a recent rise in European Central Bank interest rate expectations. Uncertainty about whether Germany would support an increase in the effective lending capacity of the safety fund, known as the European Financial Stability Facility (EFSF), put pressure on the euro ahead of a meeting of euro-zone finance ministers. The subject is expected to dominate the talks. The euro traded at $1.3290, down 0.65 per cent on the day after falling to as low as $1.3243 on trading platform EBS. It was off a one-month high of $1.3458 hit on Friday when some speculators went long on the euro following solid debt auctions by Spain and Portugal and hawkish comments on

inflation from European Central Bank President Jean-Claude Trichet. Hopes that euro-zone policymakers may expand the rescue fund swiftly had fed into that too, but G e r m a n F i n a n c e M i n i s t e r Wo l f g a n g Schaeuble said on Monday that there was no urgent need for a decision. Senior European sources told Reuters the sense of urgency in Berlin for boosting the fund had diminished after the successful bond auctions in Spain and Portugal, the two countries seen most at risk of needing any further bailouts. Instead Germany is pushing for broader anti-crisis measures to be

agreed at a summit of European Union leaders in March. Spain on Monday cancelled a proposed bond auction slated for later in the week,

opting for a syndicated bond issue instead, unnerving investors and providing another reason to sell the euro as peripheral bond spreads widened over German benchmarks. ECB policymaker Athanasios Orphanides added to the pressure on the euro by playing down the bank's language from last week, when markets took the bank's warnings on inflation and Trichet's

Asian currencies

Rupiah, peso down on fund outflow worries Currencies with inflation seen under pressure SINGAPORE: The Indonesian rupiah and the Philippine peso fell against the dollar on Monday, leading a broad decline in Asian currencies on worries that mounting inflation may prompt more aggressive policy tightening and spark major outflows of foreign funds. The rupiah was little fazed by Moody's upgrade of the country's foreign and local-currency bond ratings to one notch below investment grade as the moved already had been largely factored into the currency market, dealers said. The Indonesian unit and other currencies of countries suffering from rising inflation such the India rupee are expected to stay under pressure

as foreign investors may continue to take profits from the countries, analysts and dealers said. Foreign investors withdrew a combined net total of $978 million from the Indonesian, Thai and Philippine stock markets last week - the highest in the last five years and the third largest in the last 10 years, according to data from Bloomberg, FactSet and Morgan Stanley Research, the Business Times reported. Indonesia and Thailand led the fund outflows at $535 million and $389 million, respectively, the report added. Foreign investors are turning cautious on Indonesian markets in 2011 after record returns in the past two years. Foreigners sold

$404 million of shares last week and nearly $700 million of bonds between Jan 7-13 as inflation sped to a 20-month high in December. One-month dollar/rupiah NDFs have risen by 2 per cent in the past 3 weeks and traders say bids remained strong, indicating scope for further upside. The peso lost 0.4 per cent against the dollar amid growing worries that any rate rises by the central bank to quell inflation could spark capital outflows. The baht fell as interbank and importers offers forced it to slide to as soft as 30.670. The dollar's bullish outlook and fears of further profit taking in stocks from foreign funds should keep the dollar/baht well supported. -Reuters

Stg hits 8-wk high on UK rate view

Swiss franc surges vs euro

LONDON: Sterling rallied to an eight-week high against the dollar and jumped versus the euro on Monday on speculation that rising inflation could prompt the Bank of England to raise interest rates, possibly as soon as May. The pound also benefited against a broadly faltering euro, which suffered as last week's short-covering rally

lost steam and investors sought clearer signs that progress was being made to improve the euro-zone's sovereign safety net. Investors awaited data on UK consumer prices due on Tuesday, which are expected to give more evidence of high inflation. The consensus is for a 3.3 per cent year-on-year rise in December -- far higher than the BoE's 2 per cent target. Sterling rose as high as $1.5955, its strongest since Nov. 23, climbing above

$1.5935, the 61.8 per cent Fibonacci retracement of the pound's stumble in November-December, which could pave the way for a test of $1.60. By 1605 GMT it had edged back to $1.5908, up 0.3 per cent on the day. The euro fell a full percentage point to 83.50 pence, pulling back from a rise to near 85 pence on Friday.

Traders said bids were rumoured at 83.50 and 83.40 pence. Trade-weighted sterling rose as high as 81.7, just shy of the December high of 81.8. Above there would be the highest since September 2010. Highlighting growing demand for the pound, speculators cut net short positions last week according to the latest data from the Commodity Futures Trading Commission. This suggests a dwindling number are betting against the UK currency. -Reuters

ZURICH: The Swiss franc rose against the euro on Monday as the single currency came off Friday's fourweek high on uncertainty ahead of a meeting of eurozone finance ministers to discuss a bigger debt safety net. The franc rose 0.5 per cent against the euro compared to the New York close, trading at 1.2826 per euro at 0820 GMT. The euro had hit a four-week high against the franc at 1.2954 hit on Friday. "The (euro's) drop from Friday's high is however still too small to confirm that a correction peak is at hand," SEB analysts said in a note. "This morning we will pay attention to price action around 1.2850 for short term directional guidance." Swiss Finance Minister Eveline Widmer-Schlumpf told the SonntagsZeitung newspaper in an interview she saw no reason now for the Swiss central bank to try to fight the strong franc and said she expected the euro to recover soon. The franc was 0.3 per cent weaker against the dollar at 0.9647 per dollar. -Reuters

Aussie dollar falls on Asian demand concerns WELLINGTON/SYDNEY: The Australian dollar grinded lower on Monday on concerns that monetary tightening across Asia could slow economies in the region and hurt demand for Australian commodity exports. The Australian dollar retreated for the third day in the row to $0.9865, from $0.9908 in early trade. The currency initially bounced from a low of $0.9856 seen offshore but lost some of its gains over concerns about economic growth in the region. Support is now around $0.9842, with resistance up at $0.9994. The local currency has also been under pressure against the euro and British pound. The euro had its best week in more than 1-1/2 years, after successful securities auctions by indebted euro-zone members calmed fears of a credit crisis in the region. As euro-zone ministers meet Monday and Tuesday amid hopes they will make some progress on Europe's safety net for sovereign debt, the single currency hovered around

A$1.3489 on Monday, near a six-week low of A$1.3517 hit on Friday. Joseph Capurso, a strategist at Commonwealth Bank, sees a potential gain of 2 cents for the euro this week should the meetings yield positive results, though that might not last. "Markets have interpreted the debt situation in Europe quite favourably (but) I don't think that positive sentiment will last very long, maybe this week, not much longer," he said. "Soon enough, the issue will come back." The New Zealand dollar was largely a bystander to broader market developments, staying towards the lower end of a tight range. It stood at $0.7675/80, having spent the session between $0.7676 and $0.7692. It touched a 10day high of $0.7728 on Friday. The kiwi is seen contained in the near term by its recent highs and lows -- support at $0.7610, the Jan 13 daily low, with resistance at the Jan 14 high of $0.7728. The Aussie was sitting just above Friday's seven-week low against the kiwi at NZ$1.2840/50. -Reuters

on previous rate rises as a sign it could move sooner than previously thought. Orphanides said the ECB's statement on Thursday had not been "overly hawkish" and that there was sometimes an overreaction to the bank's underlying message. Analysts said that with inflation looking to pick up in coming months, rate hike expectations would not go away. The dollar was up against a currency basket at 79.32. But trading conditions were thin due to a US public holiday. It saw little reaction to comments from top Federal Reserve official Charles Plosser who did not rule out a 2011 rate rise. The dollar was down on the yen, easing to 82.60 yen, and within its well-worn range of the past few weeks. The yen was also stronger against the euro with the single currency shedding nearly 1 per cent against the Japanese unit. The euro was down 0.94 per cent at 109.91 yen. -Reuters

Yuan slips, mid-point barely changed SHANGHAI/HONGKONG: The yuan ended down against the dollar on Monday after the mid-point barely budged, underscoring the central bank's intention to keep the yuan stable in the near term after it raised lender's reserve requirements. China's central bank raised lenders' required reserves 50 basis points on Friday for the fourth time in just over two months, in order to lock up more cash from the banking system. The PBOC set the mid-point only one pip weaker, which dealers said showed China may wish to keep the yuan around recent levels during Chinese President Hu Jintao's visit to the United Stats from Jan. 18 to 20. "For now, China's policy is to control inflation and hot money first, currency rise is second," said a dealer at a Chinese commercial bank in Shenzhen. "The mid-point is largely in line with our expectations and it seems investors quite agree with this price," he said. President Hu said that China was fighting inflation with a range of policies including interest-rate increases, and

"inflation can hardly be the main factor in determining the exchange rate policy." Spot yuan closed at 6.5930 versus the dollar, down from Friday's close of 6.5900 and having risen 3.55 per cent since its mid-June depegging. The PBOC's mid-point snapped four day's of rises and eased off a record high. It was fixed at 6.5897 on Monday, little changed from Friday's 6.5896. China-based currency traders said they expected the yuan to move in a small range in coming days as it should take a rest after a 400-pip jump last week. Data from the Bank for International Settlement showed that the yuan's nominal effective exchange rate (NEER), or its value against a trade-weighted basket, appreciated 1 per cent in December to 113.74, up from last month's 112.59 and rose 1.84 per cent for whole year. Benchmark one-year nondeliverable dollar/yuan forwards were bid at 6.4630, up from Friday's close of 6.4370. Their implied yuan appreciation in a year's time fell slightly to 1.96 per cent from 2.37 per cent. -Reuters

Indian rupee off low on export dollar sales MUMBAI: The Indian rupee bounced off a one-month low on Monday as exporters stepped up dollar sales to take advantage of the sharp decline in the local unit, but sharp gains in the dollar versus majors continued to weigh. The partially convertible rupee closed at 45.52/53 per dollar, after hitting 45.6250 -its lowest since Dec. 1, and 0.3 per cent below its Friday's close of 45.37/38. "There was good exporter selling at 45.60 levels but rest all factors were leading to dollar buying," said Rohan Naik, head of foreign exchange trading at Standard Chartered Bank. "45.65/70 is the next strong technical resistance level which if broken can take the dollar/rupee to 46.50." In the first 10 trading sessions of 2011, foreign funds have pulled out nearly $700 million from the equity market, pushing the rupee down 1.8 per cent. Last year, record inflows of $29.3 billion had helped the rupee gain 4.1 per cent.

Investors turned bearish on the Indian rupee, while cutting their long bets on the Indonesian rupiah, the Philippine peso, the Taiwan dollar, a monthly Reuters poll showed on Monday. One-month offshore nondeliverable forward contracts were quoted at 45.91, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange closed at 45.6175, 45.6225 and 45.6250 respectively, with the total traded volume on the three exchanges at about $6.25 billion. -Reuters

Time 5:01 5:01 18th-19th 9:30 14:30 14:30 14:30 14:30 15:00 15:00 18:30 19:00 19:00 20:00

Source GBP GBP CNY JPY GBP GBP GBP GBP EUR EUR USD CAD USD USD

Events Nationwide Consumer Confidence RICS House Price Balance Foreign Direct Investment ytd/y Revised Industrial Production m/m CPI y/y RPI y/y Core CPI y/y DCLG HPI y/y German ZEW Economic Sentiment ZEW Economic Sentiment Empire State Manufacturing Index Overnight Rate TIC Long-Term Purchases NAHB Housing Market Index

Forecast 47 -43% 1.0% 3.3% 4.8% 2.6% 5.2% 6.5 17.3 12.6 1.00% 43.4B 17

Previous 45 -44% 17.7% 1.0% 3.3% 4.7% 2.7% 5.5% 4.3 15.5 10.6 1.00% 27.6B 16

Actual

Forecast

Previous

0.2% 0.3% 40.1

41.7

0.4% -3.0% 40.4

8.01B

10.42B

9.71B

Previous Day Source

Events

AUD GBP JPY USD CAD

MI Inflation Gauge m/m Rightmove HPI m/m Household Confidence Bank Holiday Foreign Securities Purchases

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

As per 22.00 PST Ask High 1.3305 1.3382 0.9650 0.9674 1.5917 1.5954 0.9879 0.9899 0.9948 0.9965 109.9300 110.9400 0.8360 0.8429 1.2843 1.2898 131.5200 131.6800 85.6200 86.0700 1361.7000 1365.6000

Bid 1.3303 0.9646 1.5913 0.9875 0.9944 109.8800 0.8357 1.2839 131.4700 85.5700 1361.0000

Low 1.3250 0.9630 1.5839 0.9866 0.9864 109.6100 0.8353 1.2816 131.0100 85.3400 1357.4100

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 17/01/2011 A USD GBP CAD EUR JPY O/N 0.55813 0.95000 0.32875 SN 0.09375 1WK 0.25438 0.57063 1.00000 0.61350 0.10288 2WK 0.25656 0.57563 1.04583 0.62625 0.10938 1MO 0.26125 0.59625 1.09667 0.70313 0.12188 2MO 0.28250 0.65313 1.15417 0.81125 0.15000 3MO 0.30313 0.76750 1.24500 0.94000 0.18875 4MO 0.34500 0.85000 1.31667 1.01000 0.24313 5MO 0.40125 0.95563 1.37500 1.10063 0.30000 6MO 0.45469 1.06938 1.45000 1.18875 0.34750 7MO 0.50813 1.14475 1.51833 1.23938 0.39750 8MO 0.55875 1.22975 1.59250 1.29375 0.44313 9MO 0.61313 1.31163 1.66333 1.34875 0.48750 10MO 0.66688 1.39063 1.75000 1.40000 0.51438 11MO 0.72125 1.45813 1.83333 1.44625 0.54000 12MO 0.77969 1.52538 1.91667 1.49313 0.56750

Major Central Banks Overview Central Bank

Next Meeting

Last Change

Bank of Canada January 18, 2011 September 8, 2010 Bank of England February 10, 2011 March 5, 2009 Bank of Japan January 25, 2011 December 19, 2008 Swiss National Bank March 17, 2011 March 12, 2009 The Reserve Bank of Australia February 1, 2011 November 2, 2010 Federal Reserve n/a December 16, 2008 European Central Bank n/a May 7, 2009

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

Division of National Bank of Pakistan (NBP) KARACHI, January 17,2011 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

85.55 135.61 114.08 86.53 88.71 84.45 12.80 1.03 14.63 66.29 15.32 22.81 11.00 12.98 305.37 27.97 65.74 23.51 23.29 0.08 2.80

85.35 135.29 113.81 86.33 88.50 84.25 12.77 1.03 14.60 65.13 15.28 22.76 10.98 12.95 304.66 27.91 65.58 23.46 23.24 0.08 2.79

85.17 134.98 113.55 86.10 88.27 84.03 12.74 1.03 14.56 65.96 15.24 22.70 10.95 12.91 303.86 27.83 65.41 23.39 23.18 0.08 2.78

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for January 17, 2011

KASB

BMA

ELXIR

GSL

ICSL

12.85 12.95 13.00 13.05 13.34 13.43 13.46 13.60 13.75 14.15 14.24 14.25 14.26 14.26 14.27 14.27 14.24 14.28 14.55 14.70

13.00 12.95 13.00 13.05 13.38 13.45 13.51 13.55 13.72 14.00 14.21 14.23 14.19 14.35 14.37 14.25 14.14 14.26 14.60 14.75

12.90 12.95 13.00 13.05 13.42 13.49 13.51 13.57 13.72 14.00 14.22 14.24 14.20 14.35 14.36 14.24 14.15 14.27 14.55 14.75

12.85 12.90 12.95 13.10 13.41 13.44 13.47 13.65 13.77 14.00 14.23 14.24 14.25 14.28 14.30 14.30 14.15 14.25 14.65 14.90

12.80 12.85 12.90 13.15 13.30 13.35 13.40 13.55 13.70 14.05 14.25 14.22 14.20 14.30 14.35 14.26 14.20 14.26 14.55 14.75

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

JSCM AvgRate 12.95 12.85 12.90 13.15 13.40 13.45 13.52 13.60 13.75 14.00 14.20 14.22 14.24 14.30 14.35 14.40 14.16 14.25 14.70 14.90

12.89 12.91 12.96 13.09 13.38 13.44 13.48 13.59 13.74 14.03 14.23 14.23 14.22 14.31 14.33 14.29 14.17 14.26 14.60 14.79

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

-0.10 -0.90 -0.42 -0.82 -0.70 -0.73

-0.80 0.50 -0.41 0.15 0.77 0.79

-0.89 -0.53 -0.79 -0.76 0.27 0.38

-0.82 0.43 -0.30 -0.11 0.67 0.72

EUR/USD GBP/USD -0.86 -0.54 -0.75 -0.74 -0.24 0.06

-0.81 -0.01 -0.40 -0.48 -0.59 -0.19

NZD/USD USD/CAD -0.93 -0.86 -0.46 -0.75 -0.76 -0.69

0.07 0.45 -0.04 0.60 0.28 0.65

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)17/01/2011 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 12.75

13.25

12.75

13.25

12.80

13.30

13.30

13.55

13.50

13.75

13.60

14.10

13.65

14.15

13.70

14.20

JSBL

12.85

13.35

12.90

13.40

13.00

13.50

13.40

13.65

13.60

13.85

13.65

14.15

13.85

14.35

13.90

14.40

ASPK 12.65

13.15

12.70

13.20

12.80

13.30

13.30

13.55

13.45

13.70

13.60

14.10

13.70

14.20

13.80

14.30

ABPL

CIPK

ASK

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

DBPK 12.65

13.15

12.65

13.15

12.75

13.25

13.20

13.45

13.35

13.60

13.50

14.00

13.55

14.05

13.60

14.10

FBPK 12.80

13.30

12.80

13.30

12.80

13.30

13.40

13.65

13.55

13.80

13.65

14.15

13.80

14.30

13.90

14.40

FLAH 12.80

13.30

12.80

13.30

12.85

13.35

13.35

13.60

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

HBPK 12.80

13.30

12.80

13.30

12.85

13.35

13.35

13.60

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

HKBP 12.75

13.25

12.75

13.25

12.80

13.30

13.45

13.70

13.65

13.90

13.75

14.25

13.85

14.35

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

HMBP 12.75

13.25

12.75

13.25

12.85

13.35

13.35

13.60

13.50

13.75

13.50

14.05

13.60

14.10

13.70

14.20

SAMB 12.80

13.30

12.85

13.35

12.95

13.45

13.45

13.70

13.60

13.85

13.60

14.10

13.70

14.25

13.85

14.35

MCBK 12.80

13.30

12.80

13.30

12.80

13.30

13.25

13.50

13.40

13.65

13.50

14.00

13.60

14.10

13.75

14.25

NBPK 12.50

13.00

12.65

13.15

12.75

13.25

13.30

13.55

13.30

13.55

13.50

14.00

13.65

14.15

13.75

14.25

SCPK 12.65

13.15

12.65

13.15

12.75

13.25

13.25

13.50

13.45

13.70

13.55

14.05

13.65

14.15

13.85

UBPL 12.80

13.30

12.70

13.20

12.70

13.20

13.40

13.65

13.50

13.75

13.60

14.10

13.70

14.20

13.70

14.20

AVE

13.26

12.76

13.26

12.81

13.31

13.34

13.59

13.49

13.74

13.59

14.09

13.69

14.19

13.79

14.29

NIPK

12.76

14.35


4 Tuesday, January 18, 2011

Of Metropolis Murders & Crash-landing Corpses

The Financial Daily International Vol 4, Issue 156

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

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 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

Sugarcane cess going O nowhere? At present Pakistan is facing acute shortfall in revenue collection and government is contemplating new taxes. Experts say if economic managers just start taking into account the collections made and also the expenses incurred the things can be mended with the passage of time. Today we just want to highlight the collections made under 'sugarcane cess' by Sindh provincial government. To the best of our finding we were able to track collections made during last five years but the authorities have no clue where the amount has been spent. According to findings the provincial government has raised Rs730 million under this cess during the last five years. According to details Rs110 million were collected in 2005-06, Rs150 million in 2006-07, Rs200 million in 2007-08, Rs130 million in 2008-09 and Rs140 million were collected in 2009-10. However, neither the Agriculture Ministry nor the Finance Ministry has any record were these amounts went. Sugar industry is called the driving engine of rural economy and the need to find details of the expenditures was felt because of the devastation floods last year which damaged irrigation system as well as roads in the rural areas. Historically, the provincial government has been collecting 50paisa per 40kg of sugarcane; half of this is contributed by the sugarcane growers and half by the sugar mills. The purpose of imposition of this tax decades ago was to construct metalled roads in the sugarcane growing areas to facilitate its faster transportation even during the rains and operation of sugar mills at optimum capacity. While it may be difficult to dig out decades old record, the work to find the details for the last five years could be started immediately. The elected representatives, both treasury and opposition, from the sugarcane growing areas of Sindh include many prominent names, who should be keen in finding cess collection in their respective constituencies and also the amount actually spent on the construction of roads. Both the treasury and opposition members want to ensure good governance and it becomes a test case for them. They should ask the provincial government to spend the money for the purpose it was collected from the growers and the millers. Honorable Sindh High Court should also take suo moto notice in this regard. Some of the cynics may say that the amount collected annually under this head is too small to make any difference. However, they ignore the basic fact that the amount belongs to small districts, which have very limited revenue collection. If one starts taking into account even the smallest collections made under various heads the total may become enormous and many of the woes of rural population overcome.

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.

Qutubuddin

nce again violence erupted Karachi last Friday when a private news channel reporter, Wali Khan Babar, who had been covering an operation against two warring drug gangs in Karachi's Pahalwan Goth was gunned down on way home from office. Wali Khan who hailed for Zhob, a town near Quetta was shot in the head and died instantly in his car right in front of Liaquatabad Police Station where Rangers and Police normally stand by their pickets. His death sent a shockwave among the journalist community being the first murder of

a journalist in the year 2011. Soon after his killing incidents of violence broke out in different parts of Karachi which claimed nearly 30 lives in three days. While in many cases like attack on two buses in Orangi Town (in one incident alone 6 persons died) innocent citizens were killed but mostly those who lost their lives in the tragic violence were workers of Sindh's two coalition partners in government, the MQM and ANP. The situation had turned so serious that Prime Minister Syed Yousuf Raza Gilani had to phone MQM's Altaf Hussain and ANP's Asfand Yar Wali Khan to request them to help stop the bloodbath in city and restore peace. Even the pilot of Sindh Chief Minister's helicopter Major (R) Iqbal Kashmiri was shot dead in Rabia City in Gulistan-e-Jauhar in the same manner as Babar was killed. The Prime Minister, as usual apart from telephoning the party chiefs of ANP and MQM directed Interior Minister Rehman Malik to rush to Karachi and help Sindh Government restore peace. Rehman Malik's efforts seemed futile as the number of deaths in the violence rose to over 30 by Sunday.

As usual immediately after the killings began in Karachi, both MQM and ANP leaders started blaming each other for the target killing. The ANP in Sindh led by Shahi Said has reiterated its demand to call Army in Karachi for an operation, a move to which MQM strongly resisted. While both the parties continued to indulge in the blame game, the government turned a deaf ear to their demands and started its usual appeals to citizens to restore peace to the violence-torn city. For the residents of Orangi Town's Kati Pahari, Gulshane-Iqbal, Gulistan-e-Jauhar, it has been a nightmare to spent nights hearing gunshots till morning. Banaras and Rabia City shops/markets in the area also remained closed causing shortage of eatables and other necessities of life in the area creating problems for the daily wagers, the poor and the sick who could not even seek medical assistance. Now, let's talk about a strange incident in Lahore. Can you believe someone can fall from a flying aeroplane? It allegedly happened in AlFaisal Town in north cantonment of Lahore where people heard the rumble of an aeroplane followed by a loud thud

on the rooftop of a single- storey house of Haji Afzal in the night hours. It was discovered to be the dead body of a 20-year-old youth which the police and the people of the area believe had fallen from an aeroplane that just passed overhead. Though the body has remained unidentified as yet, the police believe he was an employ of Lahore airport and was perhaps hiding in the undercarriage of a Dubaibound flight which has taken off from Lahore airport around that time. Flight record shows that none of the crew member of any flights in questions was missing and police investigators suspect that the deceased was a contractual employee of Lahore airport who was stowing away to Dubai by hiding in the landing gear space meant for closing of the wheels of aircraft after its take off. The mysterious death of the youth is being investigated by the police, airport security force and the civil aviation authority as people anxiously wait for the outcome. On the other hand the airport authorities are alleging that the police had killed someone and thrown his body on the rooftop of the house. To this, the police are reported to have replied that why

should they need to kill someone and through the body on the rooftop of a house while they could easily kill anyone in a fake police encounter. Strange isn't it? For years, Karachi University had been under the strict security of Rangers. Still the University premises are not safe as could be judged from a recently carried out bomb blast of low intensity in the prayer area which injured some students last month. Now the news is that a gang of 10 to 12 thieves made it to the University residence of a professor and robbed him of his valuables, cash, and mobile phones etc. Apart from this incident some other cases of mobile phone snatching have also been reported within the Karachi University premises which is well-guarded by the Rangers and the security staff of the university. One really fails to understand how criminal gangs could operate inside the University premises as all of its entry and exit points are manned by armed Rangers and police. I think we have to inculcate more professionalism and seriousness in the training of Rangers, police and other law enforcing agencies (LEAs) .

A Brighter Future Haider Abbas

T

he global future ‌ a land very far off but not quiet unreachable. A dominion of simple people who would understand words like love, affection, kindness and peace - where there are no rich or poor. Where people appreciate one another - They help one another in times of need - they struggle for a common goal, they are like one nation, they practice love not hatred. Allow me to take you on a trip down memory lane. Not so long ago there was a tie when man live in caves. A time when people would put their ears against the floor to judge distant travelers and when workers would judge the time by the movement of the sun. Since his conception man has continued to make progress in all walks of life. Be it luxury, be it travel or be it healthcare. The entire human timeline is studded with advancements in various areas. Since 1836 when Graham Bell invented the telephone to the time when Michael Mcluhan coined up the phrase "Global Village", man has created comforts unknown to the primitive man. Man has learned how a small force united is ultimately stronger than various large forces against each other. And this is the sense of belonging

which has lead to the scaling of the highest mountains, probing the deepest seas and discovering the farthest continents. Man has conquered the moon and is now directing the way if his own evolution. This steady progress portrays the global future as bright as the sun shining with all its might. A future where bullets and rickets in the skies turn to doves and pigeons, a world where barracks and bunkers are flowerbeds instead, a world where no single man is an African or Asian, Black or White. A world where forced marriages and honor killings are a mere stigma of the past. A future where our dictionaries no longer contain words such as war, violence and terrorism. A future where nuclear technology is solely used for medicinal purposes. Snapping into reality, today we live in a world where all distances are eventually being eliminated. Thanks to the internet and globalization an entrepreneur sitting in Switzerland manufactures goods in Thailand which are transported to a destination in California and all this movement can be controlled through the smallest of palm tops. A world where various nations share an identity and one day we may all live in a world without passports, not

requiring visas to travel, sharing the same currency, no taxes on imports - A world in which the importance of border and nations is overshadowed by the passions for humanity. Every Tourists and traders 'Never land'. My imagination sketches a future where economic blocks replace individual economies. Where nations with unique incentives team up to protect their interests, instead of battling amongst themselves to prove their superiority, a globe where the difference between the developed and the developing exists no more. Where every inhabitant of the planet is presented with equal opportunities to excel. A role model example is how a worn torn Europe is now the European Union or how the German midfielder Michael Ballack may now play for an English Club. Being united as one gives a much happy picture of the future than various individuals - each unsatisfied. We live in a society in which its restrictions to reality are its greatest faults. Where how a person presents himself is more important than what he really is. There is a dichotomy between being and seeming and a frown on anything new or novel. Where we think more and imagine less. Where you find

yourself involved in life and constricted by its rules and it is times like these we need to remember that there are no boundaries around us there is nothing you cannot imagine. And so I imagine a future where healthcare reaches all. Where the fight against disease declares it ultimate victory against all malicious diseases, a future where 'doctors without borders" is no longer just a slogan but the order of the day. Education is the foundation of all human development. The future can never be bright enough without providing ample educational ample opportunities to everyone. For a greener future we must move towards the preservation of this planet, where nature blossoms all around us instead of some protected areas. And as man walks towards the future after realizing all that globalization has in store for him man is rushing towards civilization in which prosperity, wealth, power and liberal democracy are being diffused through the globe. It is never too late to realize and as Robert Kennedy very rightly said and I quote, "Some men see things as they are and say why I dream things that never were and say why not?" Writer studies at Aitchison College Lhr

Asia: Between Growth & Inflation A

sian policymakers presiding over a sturdy economic recovery can be forgiven if they felt smug watching Europe's debt crisis and America's budget woes mount. But fast-rising food and oil prices have shattered any complacency, complicating the eternal trade-off between sustaining growth and keeping a lid on prices. The central banks of South Korea and Thailand both cited the threat from record food price inflation as a reason for raising interest rates last week. "Unlike previous episodes of spiking raw material costs, there is now a greater realisation across Asia, and apparently also in Korea, that such bursts of inflation cannot be shrugged off as temporary and need to be addressed with a more pro-active monetary policy stance," said Song-yi Kim, an economist at HSBC. China, which on Friday ordered banks to hold more of their deposits in reserve, is also waging a vigorous campaign to keep inflation expectations anchored in the face of spiralling food costs. Hans Timmer, director of development prospects at the World Bank, said it was in the interest of countries that are doing well to act promptly to prevent their economies from

bubbling over. "For that reason it is very logical that many governments in developing East Asia are very concerned now about the first signs of inflation and are asking themselves what they should do about it," Timmer said. Yet what is striking is that monetary policy across the region is far from tight. The cost of money, which was slashed to emergency levels as the global economy tottered in 2008, is still well below the rate of inflation in most countries -- and below historical averages. This is partly because Asia is worried that raising interest rates will attract unwanted inflows of cash minted by Western central banks. It is also due to the ingrained instinct of politicians to put growth before price stability. "In general, countries are a bit behind the curve. They have not tightened enough and they should be pre-emptive in order to try to sustain the longevity of the cycle and not let inflation get in the way," said Bill Belchere, global economist for Mirae Asset Securities in Hong Kong. "I would say policymakers in the region are much more concerned about inflation right now. I think they do 'get it', but there are some political rigidities about how quickly

and aggressively you tackle these things," he said. INDONESIA, INDIA IN SPOTLIGHT One country where investors sense political constraints is Indonesia. Foreigners have been big sellers of bonds and shares since the central bank declined to raise interest rates earlier this month despite a jump in inflation. "They are in a little bit of trouble and, after three strong years, could encounter both volatility in the exchange rate and in their equity market," Belchere said of Indonesia. India is also vulnerable to investor skittishness. The Reserve Bank of India is widely expected to raise interest rates in its Jan. 25 policy review meeting after wholesale inflation in the year to December leapt to 8.4 per cent, well out of its comfort zone. But the central bank needs the government to pull other policy levers to help stop aggregate demand running far ahead of supply, according to Sonal Varma with Nomura in Mumbai. "However, we see a rising risk of Indian policymakers focusing more on economic growth than the increasing symptoms of overheating, and hence not tightening macro policies, particularly fiscal policy, sufficiently," she said

in a report. Apart from frothy prices and a big budget deficit, 94 per cent of India's record current account deficit of 4.1 per cent of GDP in the July-September quarter was financed by shortterm portfolio inflows. "The danger here is that at some point investors shift their focus from the rewards of high growth to the risks of deteriorating economic fundamentals, triggering a sudden stop in capital inflows," Varma said. Yet Richard Jerram, chief Asian economist at Macquarie in Singapore, said the measured response of policymakers across Asia was understandable to a certain extent. Inflation readings remain mostly subdued, and, while agreement to cut US taxes had reduced global cyclical risks, the world economy still faced still headwinds. "You have terrible problems with European sovereign debt and you have a lot of uncertainty about the quality of global financial system regulation. The risks aren't just what's first-quarter growth going to be in the US: the risks are macro-systemic," he said. MR HU GOES TO WASHINGTON China, for one, is unlikely to tighten policy aggressively, many economists say.

President Hu Jintao said before leaving for a state visit to the United States that inflation was "on the whole moderate and controllable". Because the ruling Communist Party was not too worried about inflation, monetary policy would be "mildly accommodative" this year, said Andy Rothman, an economist with brokerage CLSA in Shanghai. "My guiding principle is that the Party chooses a level of lending and money supply growth that it thinks will support its desired pace of GDP growth, and I think that is about 9 per cent," Rothman said. And it is the Party, not outsiders or the markets, that determines how fast the yuan will rise. As such, US President Barack Obama is unlikely to persuade Hu to show Asia how to rebalance its economy away from exports and dampen inflation by letting the Chinese currency climb more quickly. The yuan rose 7 per cent a year between 2005 and 2008 and climbed at a 6 per cent annualised rate in the second half of 2010. "I don't think there is going to be a significant change from what we have seen in the last few years," Rothman said.-Reuters


5

Tuesday, January 18, 2011

South East Asian stocks

Most major bourses fall; Indonesia leads

European shares end flat on rescue fund uncertainty

FTSE falls as M&A hopes lose steam

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

12,533.54 12,681.94 148.40 1.18 316.81

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

3,942.42 3,989.43 47.01 1.19 12.33

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

3,099.54 3,141.04 41.50 1.34 0.32

Major Gainers

Symbol NESTLE ULEVER RMPL UPFL SRVI

Close

Change

2,729.28 4,491.93 2,219.99 1,155.00 250.35

129.96 91.71 91.70 44.00 7.80

Major Losers

Symbol

Close

Change

WYETH 1,013.93 IDYM 197.08 PSEL 171.00 PECO 163.65 ILTM 150.09

-41.07 -10.37 -8.99 -8.57 -7.61

Top 5 Volume Leaders

Symbol

Close Vol (mn)

ANL FFBL LPCL LOTPTA PTC

11.65 42.15 3.58 15.49 20.24

34.82 24.53 20.13 17.51 16.48

Active Issues Plus Minus Unchanged

231 170 19

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

FRANKFURT: Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange.-Reuters

India shares gain; techs stocks climb MUMBAI: The BSE Sensex edged 0.1 per cent higher on Monday, helped by gains in software majors, but Anil Ambani group companies declined after two group firms agreed with the market regulator to not invest in stocks until December 2012. Software majors rebounded from the recent steep decline ahead of sector leader Tata Consultancy Services earnings expected after market hours. A Reuters poll expects TCS to report a 22.1 per cent rise in third-quarter net profit to 21.94 billion rupees. The IT sector index, which is still down 4 per cent year-todate, closed 1.7 per cent higher

on Monday. TCS, Infosys Technologies closed up between 0.7 per cent and 2.1 per cent. The 30-share BSE index snapped a two-day decline and gained 0.12 per cent, or 21.81 points, to 18,882.25 points in choppy trade, with 13 of its components gaining. Dealers said the sentiment was not yet bullish. Foreign funds have been net sellers for seven sessions till Thursday. They have sold a net of $545 million for the year-todate, with the benchmark index shedding nearly 8 per cent in the period. "FIIs (foreign institutional investors) have been pulling

out some money off late due to a bunch of negative newsflow, including the scams and the parliament deadlock," said Prasanth Prabhakaran, president of retail broking at IIFL. "We should see the market returning back to sustainable gains once inflation is contained and (when) the reforms that are currently stalled, gain pace." Reliance Infrastructure fell as much as 10.6 per cent to 714 rupees, its lowest since May 2009. It closed 7.8 per cent lower, while Reliance Power ended down 6.1 per cent. Other Anil Ambani Group companies such as Reliance Communications, Reliance See # 15 Page 11

China shares slide; Hong Kong lower HONG KONG/SHANGHAI: Chinese shares fell 3 per cent, testing a strong near-term chart support level, after a rise in lenders' reserve requirements and talk of a property tax in Shanghai kept bank and developer stocks under pressure. China's key stock index extended losses into the close after the People's Bank of China announced on Friday a rise in lenders' required reserves for the fourth time in just over two months as it battles inflation. Hong Kong's Hang Seng fell 0.5 per cent, easing from a two-month high, and reversed earlier mild gains as advances in technology and local commercial property shares were not enough to keep the benchmark in the black. China's central bank raised banks' required reserve ratios by another 50 basis points, effective Jan. 20, as it makes fighting inflation one of its

top priorities for the new year. "The RRR hike strengthened expectations of further tightening steps, including a possible interest rate hike," said analyst Li Wenhui at Huatai Securities in Nanjing. "But Monday's fall appeared to be excessive as a RRR hike is not such a stern tightening step," he said. "The index should be able to find a support soon, possibly around 2,700 points." Mainland banking shares were the biggest drag on the Hong Kong market and offset gains in local commercial real estate developers, which extended their recent outperformance that has come on the back of a robust outlook for rents and as a play on asset inflation. One trader at a Japanese bank in Hong Kong said there were reports that recent commercial property contract renewals had seen rents rise by

56 per cent to 140 per cent. Low-to-near-zero vacancy rates in the city's key business districts and sustained demand will keep office rents strong through the year, said Keith Yeung, regional head of real estate research at Mirae Asset, in a note. Li Ka-shing-controlled Hutchison Whampoa rose 2.4 per cent, the top gainer on the Hang Seng, followed by Wharf Holdings , which rose 1.7 per cent. However, shares of the heavily weighted mainland banks tracked declines of their Shanghai-listed counterparts and weighed on the broader market. "Investors should be cautious that the recent Hong Kong market rally is concentrated on some large-cap stocks with heavy weightings in the HSI rather than marketwide," said Alan Lam, Greater China analyst at Julius Baer in Hong Kong.-Reuters

Nikkei flat; China fall spurs profiting TOKYO: Japan's Nikkei average gave up gains on Monday as investors snapped up profits on recent climbers, prompted by a slump in Chinese equities after China raised reserve requirements for banks. But a positive mood largely remained intact as stronger than expected earnings at JPMorgan raised expectations for top US banks, many of which report this week, including Citigroup and Goldman Sachs. The Nikkei was stuck in a tight range as resource- and energy-related stocks gained on higher oil and commodity prices, but there was a fall in

construction machinery makers with big exposure to China, such as Komatsu Ltd. "Both the Shanghai and Hong Kong markets opened lower on Monday, souring the mood on the Nikkei. The CPI figures due on Thursday are also making markets a little jittery," said Hideyuki Ishiguro, a supervisor in the investment strategy section of Okasan Securities. Although economists polled by Reuters said the consumer price index in China, which is Japan's biggest trade partner, may show a cooling of inflation from November's 28-month highs, they also reckoned any

slowdown in inflation would likely be temporary. Komatsu, which relies on China for about 20 per cent of its sales of construction, mining and utility equipment, shed 1 per cent to 2,513 yen and Hitachi Construction Machinery was 1.3 per cent lower at 2,018 yen. The benchmark Nikkei ended the session up 3.82 points at 10,502.86. Resistance for the benchmark now looms at 10,620.57, an eight-month peak hit last week, market players said. If that level is breached, the next See # 16 Page 11

LONDON: Britain's top share index fell on Monday, with declines from miners and banks offsetting a lift from merger and acquisition moves, as finance ministers were gathering to discuss changes to the euro zone's rescue fund. Smiths grabbed top spot on the blue-chip leaderboard, up 7.7 per cent, after the engineering firm rebuffed a 2.45 billion pounds ($3.88 billion) bid for its medical unit. Artificial knee and hip maker Smith & Nephew rose 3.5 per cent following a weekend report Johnson & Johnson was considering a fresh takeover approach worth at least 800 pence a share, valuing it at 7.1 billion pounds. The FTSE 100 ended down 16.37 points, or 0.3 per cent, at 5,985.70, its lowest close since Jan. 10 and a third session of losses. Trading was lacklustre with US markets closed for the Martin Luther King Jr Holiday. "It's a pretty quiet day with regards to news on a general equity basis ... I think we're waiting to see how the European finance ministers' meeting goes, and we'll take it from there," Peter Dixon, economist at Commerzbank, said. Euro zone finance ministers are meeting to discuss changes to the effective lending capacity of the European Financial Stability Facility, though no final decision was expected on Monday, with Germany seeing no need to bolster the fund. BP edged up 0.2 per cent, outperforming sector peers, as investors and analysts gave a cautious welcome to its share swap and Arctic exploration deal with Russia's Rosneft, saying any return is likely a long way off. Vodafone Group added 1.8 per cent as investors awaited a deal for the British mobile operator to dispose of its 44 per cent stake in French mobile operator SFR for between 7 billion euros ($9.32 billion) and 8 billion. Banks fell as investors locked in profits from a sector that has enjoyed a good start to 2011 despite Europe's sovereign debt See # 14 Page 11

KSE richer by 1.18pc Nawaz Ali KARACHI: Karachi Stock Exchange (KSE) started the week on a bullish note gaining 1.18 per cent on Monday. Putting on 148 points benchmark 100-Index closed at 12,681points level after 31 months -its highest closing since June 13, 2008-- mainly due to sustained foreign interest and buying on hopes of strong corporate earnings. KSE 30-Index jumped by 146 points -1.19 per cent-- to close at 12,476 points and KSE All-Share index grew by 100 points -1.15 per cent to close at 8,794 points. "The local bourse continued its positive momentum amid good foreign inflow", said Ahmed Rauf, equity dealer at JS Global Capital. According to NCCPL data, foreign investors did a net-buying of $4.25 million on Monday totaling $45 million so far in the month of January. Investors flocked towards stocks offering high dividend yields, as the corporate result season is underway, he added. Investor participation remained impressive throughout the day as 316.8 million shares traded in the overall market which is the highest in the last nine months and was

16.3 million shares more as compared to a turnover of 300.5 million shares on Friday. Market opened the session with a gain of 23 points, positive numbers then kept on increasing due to continued foreign interest and buying mainly in fertiliser, oil, and banking stocks in anticipation of strong corporate results where the bluechips are due to announce their results in the coming days. On the other side, hopes of an early launch of much awaited leverage product too played a catalytic role in the bull-run after the recent approval of Margin Trading System (MTS) by the law ministry. Therefore index at about 12:23 PST touched an intra-day high of 12,695 points (+ve 162 points). Though some profit taking was witnessed at higher levels but it managed to sustain 12,600 level at the end of the day. Azgard Nine stood as the volume leader with 34.82 million shares followed by Fauji Fertiliser Bin Qasim with 24.53 million shares and Lotte Pakistan with 20.13 million shares. Out of total 420 active issues; 231 advanced and 170 declined while 19 issues remained unchanged.

ANNOUNCEMENTS Company Period Byco Petroleum 1st Qtr Byco Petroleum (Consolidated) 1st Qtr

Div/Bon/Right -

PAT (Rs in mn) -681.17 -798.90

EPS(Rs) -1.74 -2.04

Dhiyan

BURN THE MIDDAY OILS Kashif Mustafa, NAMCO Global crude price spike, persisting foreign buying, and hopes pinned on better corporate results and leverage product could take index beyond 13,000 points level. However, in the coming days, if crude prices took a tumble they would, to some measure, take the local stocks down with them too. And with China growth slumping, a fall in the same is more than conceivable. Investors are therefore advised to book profits in oil stocks and shift their investments to banking, fertiliser, insurance, and cement sectors. Positive activities would persist today.

Farhan Mansuri, VP Capital Markets Arif Habib Limited At the moment, market is in an overbought zone and we see a correction of 400-500 points down the line. Investors are therefore advised to book profits and wait for dips to invest in oil and fertiliser sectors. After the needed correction, launch of Margin Trading system (MTS), better than expected corporate results and foreign interest would trigger positive trading activities. There might be some correction at higher levels today therefore investors should adopt a 'sell on strength' stance.


6

Tuesday, January 18, 2011

Market

KSE 100 Index

Symbols

Volume

316,809,741

Value

12,442,090,855

Trades

123,161

Advanced Declined Unchanged Total

Current High Low Change

231 170 19 420

All Share Index

12,681.94 12,696.54 12,533.54 h148.40

Current High Low Change

8,794.69 8,806.61 8,694.33 h100.36

OIL AND GAS

Company

Paid up Cap(mn)

Current High Low Change

KMI 30 Index Current High Low Change

12,476.12 12,506.20 12,329.65 h146.47

20,741.55 20,795.55 20,416.86 h324.69

High Low 1,650.49 1,619.40 Total cos Defaulter cos P/BV (x) ROE (%) 3.82 32.54

PE

Open

High

Low

Close Chg

Volume

385.53 142.41 11.64 134.99 323.14 173.29 223.70 333.34 107.07 306.18 32.42 211.54

389.38 146.90 12.24 141.65 331.50 175.55 227.25 341.49 109.99 317.79 33.19 218.20

376.00 141.51 11.47 132.00 322.15 173.35 223.80 332.50 106.60 308.50 32.75 212.15

380.63 -4.90 144.71 2.30 11.58 -0.06 138.44 3.45 329.67 6.53 175.05 1.76 225.57 1.87 338.40 5.06 107.09 0.02 313.80 7.62 32.89 0.47 217.64 6.10

407973 3533581 6618861 987752 275170 1240842 1633677 2157523 147156 5065101 21076 148136

Last 60 days High Low 398.89 146.90 12.49 141.65 331.50 185.00 228.88 341.49 114.50 317.79 40.28 218.20

287.99 90.50 10.49 117.00 203.00 150.92 184.00 231.01 74.51 262.00 31.95 182.05

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

% Change 1.21 5-Day High 1,639.46 5-Day Low 1,590.91 2011 Div BR (%) (%)

20B - 15.00 20B -

-

CHEMICALS

Open 731.39 Turnover 53,386 P/E (x) 5.66 Company

Paid up Cap(mn)

Pak Int Cont.Terminal PNSC

1092 1321

High Low 740.09 723.54 Total cos Defaulter cos P/BV (x) ROE (%) 1.44 25.53

Close 725.47 Listed cap 3,242.17 mn Payout (%) 11.08

Change -5.92 Market cap 12,736.26 mn Div Yield (%) 1.96

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

7.01 39.76

70.49 37.25

71.50 37.40

69.90 36.50

70.10 -0.39 36.58 -0.67

43368 10018

77.77 40.42

60.05 32.36

Open

High

Low

Agritech Limited 3924 8.38 22.46 Bawany Air 68 66.67 8.02 BOC (Pak) 250 14.00 99.26 Clariant Pak 273 7.23 191.17 Dawood Hercules 1203 8.66 212.14 Descon Chemical 1996 3.10 Descon Oxychem Ltd. 1020 8.49 Dewan Salman 3663 3.11 Dynea Pak 94 - 11.15 Engro Corporation Ltd 3277 11.95 219.68 Engro Polymer 6635 - 15.41 Fatima Fertilizer 22000 - 11.97 Fauji Fertilizer 6785 10.77 144.53 Fauji Fert.Bin Qasim 9341 7.95 41.03 Gatron Ind 384 2.60 48.00 Ghani Gases Ltd 725 9.22 12.34 ICI Pakistan 1388 8.85 154.87 Ittehad Chemical 360 11.53 32.50 Lotte Pakistan 15142 5.53 15.56 Mandviwala 74 1.33 Nimir Ind Chemical 1106 1.99 Shaffi Chemical 120 2.44 Sitara Chem Ind 214 9.94 122.10 Sitara Peroxide 551 15.12 13.97 United Distributors 92 9.52 Wah-Noble 90 7.53 39.72

Company

PE

23.58 8.99 102.00 193.00 215.00 3.38 8.80 3.40 11.50 222.80 15.70 12.45 151.75 42.70 50.00 12.59 158.00 33.95 15.84 1.54 2.09 2.45 122.00 14.25 10.00 41.00

22.89 7.80 99.10 188.65 208.50 3.14 8.00 3.11 11.00 214.00 15.23 12.02 147.15 41.30 45.60 12.06 155.00 30.89 15.41 1.40 1.93 2.16 121.25 13.75 9.95 39.00

Close Chg 23.12 8.00 101.92 189.13 208.98 3.16 8.61 3.25 11.20 217.56 15.30 12.24 148.68 42.15 48.40 12.17 157.07 30.91 15.49 1.44 1.97 2.16 121.25 13.91 9.98 39.17

0.66 -0.02 2.66 -2.04 -3.16 0.06 0.12 0.14 0.05 -2.12 -0.11 0.27 4.15 1.12 0.40 -0.17 2.20 -1.59 -0.07 0.11 -0.02 -0.28 -0.85 -0.06 0.46 -0.55

Close 1,594.98 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 257235 7504 19410 24501 130756 83302 3086120 3093082 2266 6811178 1441607 9553693 6735682 24530760 238 92248 421864 1601 17510020 72349 387262 17811 4290 401225 1600 5178

Change 19.35 Market cap 356,902.99 mn Div Yield (%) 4.99

24.85 10.75 103.94 209.98 215.00 3.74 9.25 4.24 13.79 222.80 15.87 12.45 151.75 42.70 50.40 13.07 158.00 36.00 15.84 2.50 2.74 3.40 139.40 14.69 11.75 43.75

20.26 7.16 74.00 149.72 165.73 2.11 3.92 1.40 9.15 174.65 12.90 9.16 106.01 29.51 39.00 11.00 121.06 23.50 9.49 0.80 1.36 1.80 101.00 9.31 8.51 32.00

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

10R 5B -

% Change 1.23 5-Day High 1,594.98 5-Day Low 1,493.57 2011 Div BR (%) (%) -

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,227.62 Turnover 133,025 P/E (x) 6.17 Company

High Low 1,235.74 1,195.01 Total cos Defaulter cos P/BV (x) ROE (%) 0.46 7.47

Close 1,212.77 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 50 411

8.68 6.92

18.79 45.15 44.72

18.95 45.15 44.99

17.79 45.15 44.25

18.14 -0.65 45.15 0.00 44.84 0.12

127878 366 4781

Century Paper Pak Paper Product Security Paper

Change -14.86 Market cap 3,360.86 mn Div Yield (%) 4.10

Last 60 days High Low 19.69 48.90 47.70

15.28 38.75 38.00

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

% Change -1.21 5-Day High 1,235.13 5-Day Low 1,212.77 2011 Div BR (%) (%) -

Open 1,319.95 Turnover 713,928 P/E (x) 4.91 Paid up Cap(mn)

High Low 1,366.41 1,314.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.24 25.35

PE

Open

High

Low

Agriautos Ind 144 6.09 Atlas Battery 101 6.05 Atlas Engineering Ltd 247 21.88 Atlas Honda 626 9.78 Baluchistan Wheels Ltd. 133 6.39 Dewan Motors 890 Exide (PAK) 56 4.79 General Tyre 598 21.64 Ghandhara Nissan 450 3.56 Ghani Automobile Ind 200 7.19 Honda Atlas Cars 1428 Indus Motors 786 6.82 Pak Suzuki 823 11.41 Sazgar Engineering 150 4.24

78.70 201.90 23.35 133.50 33.00 2.30 204.99 25.95 5.13 4.34 12.39 294.99 71.99 22.20

82.63 203.40 24.51 135.00 34.65 2.35 203.00 26.00 5.24 4.60 12.87 309.73 72.47 22.70

79.99 200.00 24.51 132.00 34.00 2.25 203.00 25.00 5.00 4.20 12.35 294.00 71.00 22.45

Company

Paid up Cap(mn)

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin

PE

565 4.63 675 555 9.86 1199 12.13 785 11.00

Open 29.20 2.53 15.84 59.02 10.14

High 30.25 2.84 16.00 61.00 9.98

Low 29.50 2.50 15.70 58.00 9.21

Close Chg 29.60 2.71 15.77 58.21 9.68

0.40 0.18 -0.07 -0.81 -0.46

Close 1,110.62 Listed cap 3,596.11 mn Payout (%) 30.91

Change -7.79 Market cap 10,719.88 mn Div Yield (%) 8.77

Open 1,708.23 Turnover 624,984 P/E (x) 40.89 Company

Paid up Cap(mn)

Abdullah Shah Ghazi Sugar 793

Close Chg

Last 60 days High Low

Volume 258808 113100 9069 83748 46104

30.25 3.39 16.51 62.20 10.70

24.00 2.22 12.51 44.00 8.00

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

20B -

2011 Div BR (%) (%) -

PE

Adam SugarSPOT 58 AL-Noor SugarSPOT 186 Bawany Sugar 87 Chashma SugarSPOT 287 Colony Sugar Mills 990 Crescent Sugar 214 Dewan Sugar 365 Faran SugarSPOT 217 Habib SugarXDXB 750 Habib-ADM Ltd 200 J D W SugarSPOT 490 Mirpurkhas Sugar 84 Mirza SugarSPOT 141 Mitchell’s FruitSPOT 50 National Foods 414 Nestle Pakistan 453 Noon Sugar 165 Pangrio SugarSPOT 109 Quice Food 107 S S Oil 57 Sakrand Sugar 223 Sanghar SugarSPOT 119 Shahmurad SugarSPOT 211 Shakarganj Mills 695 Sindh AbadgarSPOT 104 Tandlianwala 1177

Company

Paid up Cap(mn)

Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Bestway Cement Buxly Paints Cherat Cement Dadabhoy Cement Dadex Eternit Dandot Cement Dewan Cement DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics Haydery Const Javedan Cement Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Maple Leaf(Pref) Pioneer Cement Safe Mix Concrete Shabbir Tiles

PE

Open

High

Low

1828 866 6.58 858 182 3257 14 956 25.57 982 14.54 108 948 3891 3651 132.33 6933 15.73 502 3.88 1760 77 32 581 1288 13126 3234 6.93 5261 1.32 541 3.68 2228 200 361 -

3.16 62.23 2.79 21.51 16.51 13.40 10.80 1.82 21.02 2.49 2.10 31.27 5.06 7.20 1.81 1.70 0.63 59.00 6.64 3.60 77.07 2.77 5.00 7.18 7.06 8.25

3.40 62.99 2.82 21.68 15.51 13.60 11.40 1.90 22.00 2.17 2.28 31.97 5.22 7.45 1.94 2.39 0.70 61.00 6.80 3.72 78.00 2.89 5.00 7.45 7.06 9.25

3.15 62.00 2.25 20.60 15.51 12.90 11.00 1.71 20.01 2.17 2.07 31.31 5.07 7.35 1.62 1.55 0.56 59.00 6.51 3.42 76.76 2.75 5.00 7.11 7.06 8.25

Close 1,026.43 Listed cap 54,792.74 mn Payout (%) 19.04

Change 7.19 Market cap 72,566.16 mn Div Yield (%) 2.33

Close Chg

Volume

Last 60 days High Low

3.15 62.53 2.59 21.50 15.51 12.90 11.25 1.89 21.99 2.17 2.20 31.76 5.19 7.44 1.80 1.71 0.69 59.67 6.55 3.58 77.17 2.83 5.00 7.21 7.06 8.26

398891 21060 1372 17989 5157 461 5700 11500 6033 198 250626 12464584 960653 11403 104327 42868 11517 300 23095 20125907 3177619 501890 189 96467 10011 17303

3.98 65.99 4.24 24.16 24.80 15.50 12.75 2.49 28.50 3.49 3.10 32.10 5.55 8.20 2.25 5.00 1.08 63.05 8.70 3.79 79.98 3.30 8.89 8.58 7.94 9.60

-0.01 0.30 -0.20 -0.01 -1.00 -0.50 0.45 0.07 0.97 -0.32 0.10 0.49 0.13 0.24 -0.01 0.01 0.06 0.67 -0.09 -0.02 0.10 0.06 0.00 0.03 0.00 0.01

2.80 57.60 1.10 14.55 15.51 7.91 10.00 1.31 18.51 1.11 1.40 25.52 4.72 5.05 1.60 1.18 0.42 56.05 5.80 2.79 69.20 2.66 3.21 6.52 5.25 6.30

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

2011 Div BR (%) (%) -

-

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 1,066.28 Turnover 342,734 P/E (x) 2.99 Company

Paid up Cap(mn)

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

PE

Open

115 2.78 78.38 230 2.84 1067 5.10 55.35 389 3.36 47 64.53 24.62 844 68.90 132.66 300 9.77 128.74

High

High Low 1,084.57 1,066.26 Total cos Defaulter cos P/BV (x) ROE (%) 1.31 43.91 Low

Close Chg

79.35 77.50 78.07 2.94 2.67 2.73 55.70 54.55 55.49 3.25 2.60 3.25 25.85 24.00 25.81 136.00 133.65 134.36 135.17 129.50 133.88

-0.31 -0.11 0.14 -0.11 1.19 1.70 5.14

Close 1,076.90 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 34327 99665 5763 515 8213 81141 113106

Change 10.61 Market cap 40,393.21 mn Div Yield (%) 5.20

Last 60 days High Low 83.23 3.30 56.45 4.05 25.90 136.74 135.17

34.00 1.82 45.30 2.10 15.10 101.00 100.00

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

25B 10B -

% Change 1.00 5-Day High 1,076.90 5-Day Low 1,049.44 2011 Div BR (%) (%) -

-

INDUSTRIAL ENGINEERING

Company

Paid up Cap(mn)

AL-Abid Silk Hussain Industries Pak Elektron Singer Pak Tariq Glass Ind

PE

134 3.16 106 1174 3.86 341 22.46 231 2.53

Close 1,332.86 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change 12.91 Market cap 48,605.77 mn Div Yield (%) 4.16

Company

Paid up Cap(mn)

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

PE

Open

66 1.05 16.25 215 5.84 241.36 104 - 46.00 214 1.31 213 11.84 13.00 132 7.44 60.23 366 7.31 557.08 57 454.58 172.22

High

High Low 1,658.66 1,620.31 Total cos Defaulter cos P/BV (x) ROE (%) 3.35 38.02 Low

Close 1,627.64 Listed cap 1,336.62 mn Payout (%) 131.49

Close Chg

Volume

16.60 16.35 16.35 0.10 244.85 241.00 243.65 2.29 46.50 45.50 46.03 0.03 1.43 1.25 1.29 -0.02 13.00 12.75 12.79 -0.21 63.23 60.11 62.11 1.88 568.40 557.00 558.98 1.90 178.00 163.61 163.65 -8.57

800 2274 2676 125978 32412 20620 72261 2192

14.12 200.00 42.90 0.21 10.55 58.55 443.00 163.61

45760 10107 535 2251 501 169508 520 3537 9005 4231 111302 119812 231437 5420

Last 60 days High Low 82.63 204.40 24.51 143.80 36.72 2.89 217.44 26.74 5.67 5.75 13.40 309.73 77.90 22.70

65.75 150.50 15.00 96.00 29.40 1.20 144.99 21.00 4.12 4.01 10.80 227.00 66.75 17.92

2010 Div BR (%) (%) 90 100 25 60 20 150 10

2011 Div BR (%) (%)

20B 20B

-

-

High

High Low 1,765.23 1,710.39 Total cos Defaulter cos P/BV (x) ROE (%) 12.39 30.30 Low

Close Chg

Close 1,748.44 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

Change 40.21 Market cap 243,835.04 mn Div Yield (%) 0.75

Last 60 days High Low

6024 7.74 4.06 27630 20.50 12.46 3100 53.02 41.00 3294 6.73 1.21 3101 15.47 8.50 88040 5.70 2.60 2000 7.00 5.00 166559 5.59 1.42 356 21.73 19.00 41950 36.50 22.00 5201 13.00 11.69 43627 92.50 70.00 1850 68.22 48.11 25325 7.18 4.20 518 89.90 61.50 558 75.50 39.01 532 2729.28 1830.00 607 14.84 9.00 18738 6.99 4.25 80500 3.20 2.02 2000 3.89 3.00 2000 3.90 2.11 38868 15.01 13.00 20829 13.50 9.85 36018 7.88 4.06 172 11.20 4.75 5202 42.38 29.00

% Change 2.35 5-Day High 1,748.44 5-Day Low 1,669.92

2010 Div BR (%) (%)

2011 Div BR (%) (%)

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

-

-

Open 30.26 6.40 15.22 20.00 21.38

High 29.28 7.29 15.45 19.99 21.35

High Low 1,155.23 1,125.61 Total cos Defaulter cos P/BV (x) ROE (%) 0.34 10.64 Low 29.25 7.08 15.02 19.55 20.44

Close Chg 29.28 -0.98 7.08 0.68 15.32 0.10 19.99 -0.01 21.18 -0.20

Close 1,147.70 Listed cap 3,763.71 mn Payout (%) 6.27

Volume 510 1008 262314 1003 30841

Change -1.13 Market cap 5,240.30 mn Div Yield (%) 1.96

2010 Div BR (%) (%) 150 25 650 100

10B 25B -

Last 60 days High Low 40.00 11.49 15.74 20.79 22.50

23.00 6.10 12.90 16.51 15.90

2010 Div BR (%) (%)

2011 Div BR (%) (%)

-20B 20R - 10B 17.5 -

-

-

PERSONAL GOODS Open 1,017.38 Turnover 42,708,678 P/E (x) 7.52 Company

Paid up Cap(mn)

(Colony) Thal Ahmed Hassan Amtex Limited Artistic Denim Aruj Garments Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Blessed Tex Mills Chenab Limited Colgate Palm Colony Mills Ltd Crescent Fibres Ltd Crescent Jute Crescent Textile D S Ind Ltd Data Textile Dawood Lawrencepur Dewan Farooque Spin. Din Textile Ellcot Spinning Faisal Spinning Fatima Enter Fazal Textile Gadoon Textile XD Ghani Value Glass Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning Idrees Textile Indus Dyeing Island Textile J K Spinning Janana D Mal Khalid Siraj Kohat Textile Kohinoor Ind Kohinoor Mills Kohinoor Textile Mukhtar Textile Nagina Cotton Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Prosperity Ravi Textile Reliance Weaving Rupali Poly Saif Textile Sajjad Textile Sally Textile Samin Textile Sargodha Spinning Saritow Spinning Service Ind Shadman Cot Shahpur Textile Shahtaj Textile Suraj Cotton Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zahoor Cotton Zil Limited

56 144 2594 840 62 133 4493 33 76 76 64 1150 316 2442 124 238 492 600 99 514 600 204 110 100 142 62 234 75 635 146 222 716 3105 99 180 181 5 184 43 107 208 303 509 1455 145 187 1596 3516 560 174 185 250 308 341 264 213 88 267 312 133 120 176 140 97 180 307 418 215 400 99 53

% Change 0.18 5-Day High 1,627.64 5-Day Low 1,549.21

-

45.99

Total Assets (Rs in mn)

MA (10-day)

3.19

Total Equity (Rs in mn)

MA (100-day)

3.30

Revenue (Rs in mn)

5,302.60 996.82 2,198.44

MA (200-day)

4.46

Interest Expense

1st Support

3.10

Loss after Taxation

2nd Support

3.00

EPS 10 (Rs)

1st Resistance

3.35

Book value / share (Rs)

2nd Resistance

3.50

PE 11 E (x)

417.19

Pivot

3.25

PBV (x)

(720.62) (3.941) 5.45 0.58

AACIL closed down -0.01 at 3.15. Volume was 1,042 per cent above average (trending) and Bollinger Bands were 31 per cent narrower than normal. The company's loss after taxation stood at Rs211.951 million which translates into a Loss Per Share of Rs1.16 for the 1st quarter of current fiscal year (1QFY11). AACIL is currently 29.4 per cent below its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of AACIL (mildly bearish). Trend forecasting oscillators are currently bearish on AACIL.

Lafarge Pakistan Cement Ltd

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

62.67

Total Assets (Rs in mn)

MA (10-day)

3.32

Total Equity (Rs in mn)

9,763.73

MA (100-day)

3.06

Revenue (Rs in mn)

8,129.96

MA (200-day)

3.19

Interest Expense

1,230.81

1st Support

3.38

Loss after Taxation

2nd Support

3.25

EPS 09 (Rs)

1st Resistance

3.68

Book value / share (Rs)

2nd Resistance

3.85

PE 10 E (x)

Pivot

3.55

PBV (x)

19,704.24

(1,278.96) (0.974) 7.44 0.48

LPCL closed down -0.02 at 3.58. Volume was 1,040 per cent above average (trending) and Bollinger Bands were 2 per cent wider than normal. The company's loss after taxation stood at Rs1.045 billion which translates into a Loss Per Share of Rs0.80 for the nine months of current calendar year (9MCY10). LPCL is currently 12.1 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into LPCL (bullish). Trend forecasting oscillators are currently bullish on LPCL.

JS Bank Limited

High Low 1,027.51 1,010.46 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 8.64

PE

Open

High

Low

Close Chg

2.49 9.80 6.53 3.31 0.33 0.46 0.51 5.34 0.86 36.34 3.75 0.63 3.68 50.74 2.66 0.58 0.62 0.86 0.48 3.19 0.75 6.71 4.32 1.15 0.85 0.75 3.85 0.60 3.91 1.92 0.14 0.93 0.25 1.06 3.84 0.81 2.00 5.98 3.13 0.73 1.07 0.67 4.67 0.41 0.22 4.99 0.47 0.30 8.57 2.16 0.46 0.89 5.47 9.61 0.48 3.91

1.35 16.52 4.31 23.41 4.50 2.58 10.66 11.35 14.50 637.10 54.69 3.13 964.08 2.58 14.60 1.00 19.51 1.75 0.26 43.94 4.00 27.00 21.30 34.98 14.30 404.00 69.58 25.51 31.61 6.64 7.55 4.01 48.07 7.70 3.60 207.45 157.70 6.10 16.00 0.71 1.00 1.65 2.64 5.20 0.49 16.48 24.47 70.82 9.61 10.00 14.60 1.53 9.20 39.00 4.90 2.53 4.23 5.99 2.80 2.40 242.55 11.00 0.48 19.59 39.99 127.11 60.08 0.69 1.60 0.50 56.74

1.34 15.52 4.43 24.50 5.00 2.59 11.66 11.75 14.40 645.00 57.42 3.26 970.00 2.60 13.65 1.21 20.50 1.96 0.40 45.00 3.60 27.00 21.75 35.05 15.30 410.00 69.00 25.51 33.19 7.25 7.40 4.09 49.90 8.15 3.88 197.15 151.00 6.12 17.00 0.96 1.99 1.90 3.54 5.47 0.50 16.45 24.61 71.25 9.75 10.00 14.60 1.70 9.90 37.25 5.20 3.24 4.65 6.49 3.50 2.50 253.00 12.00 0.47 19.90 40.00 129.45 61.25 0.63 1.65 0.87 59.25

1.00 15.52 4.25 23.15 4.70 1.95 10.80 11.00 14.39 640.00 57.30 3.08 962.01 2.40 13.65 1.00 19.16 1.80 0.39 42.61 3.30 26.51 20.50 35.00 15.30 400.00 66.50 25.50 30.03 6.00 7.00 4.00 48.00 6.80 3.60 197.08 150.00 6.09 15.00 0.72 1.00 1.41 2.15 5.20 0.40 15.85 24.00 69.55 9.15 10.00 14.00 1.41 9.20 37.06 4.99 2.00 4.25 5.80 2.30 1.80 243.01 11.00 0.32 19.70 39.10 126.55 60.10 0.60 1.37 0.50 56.01

1.00 -0.35 15.52 -1.00 4.31 0.00 23.52 0.11 4.90 0.40 2.40 -0.18 11.65 0.99 11.18 -0.17 14.39 -0.11 643.99 6.89 57.42 2.73 3.11 -0.02 968.00 3.92 2.40 -0.18 13.65 -0.95 1.15 0.15 19.16 -0.35 1.89 0.14 0.40 0.14 43.13 -0.81 3.30 -0.70 27.00 0.00 20.58 -0.72 35.01 0.03 15.30 1.00 400.01 -3.99 68.50 -1.08 25.51 0.00 30.05 -1.56 6.01 -0.63 7.00 -0.55 4.01 0.00 48.99 0.92 7.01 -0.69 3.60 0.00 197.08-10.37 150.09 -7.61 6.10 0.00 15.00 -1.00 0.75 0.04 1.99 0.99 1.67 0.02 2.15 -0.49 5.37 0.17 0.50 0.01 15.86 -0.62 24.13 -0.34 69.71 -1.11 9.25 -0.36 10.00 0.00 14.00 -0.60 1.54 0.01 9.60 0.40 37.15 -1.85 5.11 0.21 3.24 0.71 4.42 0.19 5.99 0.00 2.41 -0.39 1.80 -0.60 250.35 7.80 11.88 0.88 0.33 -0.15 19.70 0.11 39.72 -0.27 128.02 0.91 60.34 0.26 0.61 -0.08 1.37 -0.23 0.50 0.00 58.40 1.66

Close 1,017.93 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change 0.55 Market cap 140,342.56 mn Div Yield (%) 2.22

Last 60 days High Low

2001 1.99 650 17.95 514230 9.71 1656 24.59 5749 5.50 565 3.45 34819130 12.32 18504 17.85 575 14.84 240 747.48 716 57.42 147582 3.90 386 970.00 22901 3.33 1289 14.60 4107 1.38 3994 23.99 258534 2.37 500 0.90 13355 47.00 5000 8.00 607 27.54 10903 21.78 832 36.75 2000 15.30 806 490.05 3435 71.40 102 41.20 748 33.19 1013 8.86 1498 10.30 74502 4.88 171895 49.90 9569 8.74 4001 4.45 143 350.15 110 192.00 3309 9.50 19502 19.40 30016 1.25 7390 1.99 34099 2.00 496 3.72 52361 5.97 6100 0.95 4874 17.50 2004217 25.14 3552548 71.66 16508 10.50 3010 11.25 11000 18.25 546223 1.98 4154 11.50 4400 39.89 31600 6.85 101 3.24 8370 5.75 1202 7.97 2003 3.50 513 2.89 42375 276.50 4881 13.00 3376 1.00 1675 21.90 16508 41.00 103509 132.00 72419 63.30 1000 1.50 1001 2.00 13500 0.87 157 59.25

2010 Div BR (%) (%)

0.52 15.52 4.00 30 19.10 20 4.10 1.32 7.5 9.20 8.10 - 15B 10.82 20 446.00 45.25 50 2.94 740.00 2.16 8.41 10 0.16 17.89 15 1.52 0.11 36.10 5 3.00 23.50 20 10B 17.21 35 29.00 50 9.25 320.02 100 38.30 70 25.50 25 22.62 12.5 5.01 10 6.30 10 20B 3.31 10 34.98 20 2.85 2.60 10 197.08 50 85.19 50 4.05 20 5B 13.25 0.28 0.51 1.10 1.52 4.82 0.14 12.80 20SD 19.11 15 50.25 25 45R 5.45 8.00 10 10B 12.51 30 1.26 8.01 25SD 31.25 40 3.10 0.21 3.57 10 5.11 - 100R 1.50 5 1.00 169.00 7.00 0.18 15.61 45 29.00 50 86.50 80 20B 38.25 0.42 1.00 0.50 38.55 35 -

% Change 0.05 5-Day High 1,017.93 5-Day Low 1,007.46 2011 Div BR (%) (%) -

-

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

50.16

Total Assets (Rs in mn)

MA (10-day)

2.54

Total Equity (Rs in mn)

5,654.56

MA (100-day)

2.50

Revenue (Rs in mn)

Open 989.66 Turnover 135,955 P/E (x) 7.64 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Sanofi-Aventis Searle Pak

Paid up Cap(mn) 979 250 1707 165 200 96 306

PE

Open

9.42 107.26 6.85 89.51 15.08 85.00 8.06 29.11 7.15 8.78 11.38 143.90 5.92 64.57

High

High Low 992.00 975.42 Total cos Defaulter cos P/BV (x) ROE (%) 1.70 22.31 Low

Close Chg

108.00 106.75 107.45 0.19 91.00 89.10 90.67 1.16 84.50 83.50 83.85 -1.15 29.20 28.66 29.08 -0.03 9.20 8.02 8.87 0.09 147.00 141.20 143.00 -0.90 65.90 64.00 65.79 1.22

Close 985.84 Listed cap 3,904.20 mn Payout (%) 44.54

2,527.30

2.79

Interest Expense

1,806.71

1st Support

2.55

Loss after Taxation

(594.94)

2nd Support

2.50

EPS 09 (Rs)

1st Resistance

2.65

Book value / share (Rs)

2nd Resistance

2.70

PE 10 E (x)

Pivot

2.60

PBV (x)

Volume 9969 1559 22831 7086 47126 12421 34940

112.50 93.60 89.98 30.48 9.20 147.00 65.90

89.88 82.20 69.00 23.50 7.16 116.00 59.00

(0.98) 9.23 0.28

JSBL closed down -0.06 at 2.57. Volume was 104 per cent above average and Bollinger Bands were 63 per cent narrower than normal. The company's loss after taxation stood at Rs404.872 billion which translates into a Loss Per Share of Rs0.66 for the nine months of current calendar year (9MCY10). JSBL is currently 8.0 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of JSBL at a relatively equal pace. Trend forecasting oscillators are currently bullish on JSBL.

Dewan Automotive Engineering Ltd

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

49.24

Total Assets (Rs in mn)

1,022.94

MA (10-day)

1.41

Total Equity (Rs in mn)

(1,445.96)

MA (100-day)

0.83

Revenue (Rs in mn)

MA (200-day)

0.79

Interest Expense

1st Support

1.17

Loss after Taxation

(514.93)

2nd Support

1.12

EPS 10 (Rs)

(24.062)

1st Resistance

1.35

Book value / share (Rs)

2nd Resistance

1.48

PE 11 E (x)

Pivot

1.30

PBV (x)

121.42 112.64

(67.57) (0.02)

DWAE closed down -0.02 at 1.29. Volume was 90 per cent above average and Bollinger Bands were 33 per cent narrower than normal. The company's loss after taxation stood at Rs59.99 million which translates into a Loss Per Share of Rs2.80 for the 1st quarter of current fiscal year (1QFY11). DWAE is currently 34.9 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 reflect moderate flows of volume out of DWAE (mildly bearish). Trend forecasting oscillators are currently bearish on DWAE.

BOOK CLOSURES Company

From

To

Lakson Tobacco Haseeb Waqas Sugar Mills Sanghar Sugar Mills Nagina Cotton Mills Sindh Abadgar's Sugar Mills Dandot Cement Shahtaj Sugar Mills Shashma Sugar Mills The Premier Sugar Mills Quetta Tex Mills # KASB Securities # Pangrio Sugar Mills Fecto Sugar Mills Thal Ind Corp Mirza Sugar Mills Baba Farid Sugar Mills Al-Noor Sugar Mills Shahmurad Sugar Mills Adam Sugar Mills Faran Sugar Mills

18-Jan 18-Jan 19-Jan 19-Jan 19-Jan 20-Jan 20-Jan 21-Jan 21-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 22-Jan 23-Jan 23-Jan

25-Jan 25-Jan 31-Jan 25-Jan 28-Jan 29-Jan 01-Feb 30-Jan 30-Jan 29-Jan 28-Jan 31-Jan 29-Jan 28-Jan 31-Jan 29-Jan 02-Feb 02-Feb 31-Jan 30-Jan

D/B/R 10 15 10 10 10 10 15 10 50 10 25 25

Spot AGM/Date 10-Jan 11-Jan 12-Jan 14-Jan 14-Jan 14-Jan 14-Jan 14-Jan 14-Jan 14-Jan

25-Jan 25-Jan 31-Jan 25-Jan 28-Jan 29-Jan 27-Jan 31-Jan 31-Jan 29-Jan 28-Jan 31-Jan 29-Jan 28-Jan 31-Jan 29-Jan 28-Jan 28-Jan 29-Jan 27-Jan

INDICATIONS

Change -3.82 Market cap 32,945.01 mn Div Yield (%) 5.83

Last 60 days High Low

32,894.92

MA (200-day)

Performance of SR Pharma and Bio Tech Index

2011 Div BR (%) (%) -

Fundamental Highlights As on Jun 30, 2010

Technical Analysis RSI (14-day)

% Change -0.10 5-Day High 1,159.76 5-Day Low 1,127.50

PHARMA AND BIO TECH

Change 2.93 Market cap 35,197.48 mn Div Yield (%) 14.91

Last 60 days High Low 18.20 244.95 49.50 2.40 14.80 78.90 568.40 310.00

1.71 0.54 1.16 1.50 1.00 -0.01 -1.99 -0.85 -0.01 0.26 0.22 3.98 -0.34 0.50

% Change 0.98 5-Day High 1,332.86 5-Day Low 1,231.67

Performance of SR Personal Goods Index

Performance of SR Industrial Engineering Index Open 1,624.71 Turnover 259,213 P/E (x) 8.82

-

HOUSEHOLD GOODS

-

% Change 0.71 5-Day High 1,026.43 5-Day Low 991.31

Open

Open 1,148.83 Turnover 295,678 P/E (x) 3.19

Performance of SR Construction and Materials Index High Low 1,040.16 1,012.64 Total cos Defaulter cos P/BV (x) ROE (%) 0.58 7.10

-

Performance of SR Household Goods Index

CONSTRUCTION AND MATERIALS Open 1,019.24 Turnover 38,257,114 P/E (x) 8.19

80.41 202.44 24.51 135.00 34.00 2.29 203.00 25.10 5.12 4.60 12.61 298.97 71.65 22.70

9.93 4.56 5.56 5.00 5.56 1.00 1.17 19.26 19.80 18.40 18.80 -0.46 3.63 47.60 49.98 49.39 49.73 2.13 5.69 5.80 5.00 5.70 0.01 1.08 10.50 10.95 10.30 10.72 0.22 3.44 3.42 4.25 3.40 4.09 0.67 5.51 6.51 6.50 6.51 1.00 3.70 4.10 3.40 3.97 0.27 4.22 20.70 21.68 19.75 21.00 0.30 5.14 22.63 23.10 22.00 22.87 0.24 11.17 12.38 12.38 12.00 12.06 -0.32 3.11 91.23 92.40 87.00 87.81 -3.42 4.26 52.05 53.85 50.11 51.05 -1.00 0.63 6.13 6.45 5.95 6.19 0.06 9.18 81.13 84.60 82.07 84.60 3.47 22.76 60.31 61.45 60.99 60.99 0.68 29.98 2599.32 2729.28 2600.25 2729.28 129.96 - 10.25 10.49 9.77 10.25 0.00 0.89 6.01 6.30 6.00 6.09 0.08 6.66 2.98 2.99 2.75 2.93 -0.05 0.28 3.15 3.21 3.20 3.21 0.06 1.43 2.99 2.98 2.81 2.98 -0.01 1.26 14.01 15.01 13.70 14.21 0.20 7.26 11.50 11.70 11.10 11.11 -0.39 5.15 6.00 5.50 5.96 0.81 5.29 11.10 11.10 11.00 11.00 -0.10 385.27 40.37 42.38 38.40 42.38 2.01

-

% Change -0.70 5-Day High 1,118.41 5-Day Low 1,060.80

2011 Div BR (%) (%)

-

FOOD PRODUCERS

INDUSTRIAL METALS AND MINING High Low 1,151.93 1,100.58 Total cos Defaulter cos P/BV (x) ROE (%) 1.17 33.10

40 15

Performance of SR Food Producers Index

Performance of SR Industrial Metals and Mining Index Open 1,118.41 Turnover 510,829 P/E (x) 3.53

2010 Div BR (%) (%)

Performance of SR Automobile and Parts Index

Company

High Low 1,628.31 1,574.98 Total cos Defaulter cos P/BV (x) ROE (%) 3.42 35.00

% Change -0.81 5-Day High 732.48 5-Day Low 716.27

AUTOMOBILE AND PARTS

Performance of SR Chemicals Index

Paid up Cap(mn)

Al-Abbas Cement Industries Limited

Performance of SR Industrial Transportation Index

Close Change 1,639.46 19.55 Listed cap Market cap 65,194.15 mn 1,255,427.60 mn Payout (%) Div Yield (%) 55.94 4.76

Attock Petroleum 691 6.59 Attock Refinery 853 8.11 BYCO Petroleum 3921 Mari Gas Company 735 18.76 National Refinery 800 4.89 Oil & Gas Development 43009 11.84 Pak Petroleum 11950 9.17 Pak Oilfields 2365 7.99 Pak Refinery Limited 350 P.S.O 1715 5.31 Shell Gas LPG 226 Shell Pakistan 685 11.16

Open 1,575.63 Turnover 65,055,789 P/E (x) 9.78

Alert ! Unusual Movements

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,619.92 Turnover 15,617,987 P/E (x) 11.75

KSE 30 Index

2010 Div BR (%) (%) 20 30

20B -

% Change -0.39 5-Day High 989.66 5-Day Low 979.88 2011 Div BR (%) (%) -

-

# Extraordinary General Meeting

OTHER SECTORS Symbols

Open

Pakistan Cables 55 TRG Pakistan Ltd. 3.41 Murree Brewery Co. 90.21 Shezan International 142.81 Grays of Cambridge 49 Lakson Tobacco 282.51 Pak Tobacco 116.34 Shifa Int.Hospitals 32.01 Eye Television 21.56 Media Times LtdSPOT 37.16 P.I.A.C.(A) 2.54 AKD Capital Limited 48.36 Pace (Pak) Ltd. 2.84 Netsol Technologies 23.61

High 55.25 3.6 94 149.95 48.2 296.63 122.15 33 22.22 38.89 2.59 49.4 3.27 24.79

Low Close 54.02 3.36 90 146.05 47 289 112.75 32 20.65 35.31 2.43 48 2.75 24.79

54.34 3.58 93.05 149.95 48.2 290.11 121.98 32.8 21.37 35.67 2.47 48.53 3.22 24.79

Change -0.66 0.17 2.84 7.14 -0.8 7.6 5.64 0.79 -0.19 -1.49 -0.07 0.17 0.38 1.18

Vol 1351 1961170 1588 79600 450 3412 27351 230 84001 628 140023 7139 9806422 107103


7

Tuesday, January 18, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,151.87 Turnover 24,384,521 P/E (x) 6.26 Paid up Cap(mn)

Company

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

PE

78 4.94 37740 13.49 3000 0.71 8606 6175 -

Open

High

80.03 19.46 2.28 2.86 3.55

High Low 1,214.77 1,146.48 Total cos Defaulter cos P/BV (x) ROE (%) 0.80 12.84 Low

82.39 20.46 2.48 3.11 4.55

80.00 19.42 2.26 2.75 3.45

Close Chg 80.00 20.24 2.37 3.01 4.51

-0.03 0.78 0.09 0.15 0.96

Close 1,198.06 Listed cap 50,077.79 mn Payout (%) 62.56

Last 60 days High Low

Volume 5326 16481367 1966052 5931776 10221340

Change 46.19 Market cap 83,099.15 mn Div Yield (%) 10.00

103.00 20.46 2.69 3.45 4.55

76.50 18.21 2.12 2.40 3.35

% Change 4.01 5-Day High 1,198.06 5-Day Low 1,127.55

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

2011 Div BR (%) (%)

-

-

-

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

204 6.59 369 6.15 457 7.00 121 1250 400 3.50 718 17.25 791 15.78 3000 48.56 250 1.89 350 303 6.60 252 4.11 200 253 4.50 400 2.32

ELECTRICITY

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

198 11572 7.49 1560 7932 1695 10.69 126 2.74 8803 5.48 3673 3.80 3541 29.32 191 3.54 1367 150 -

Open

High

0.98 39.86 1.71 3.09 19.13 4.31 44.88 17.76 18.06 19.25 2.25 1.24

0.95 41.00 1.79 3.25 19.99 4.50 45.25 18.00 18.42 19.00 2.35 1.00

High Low 1,420.15 1,376.28 Total cos Defaulter cos P/BV (x) ROE (%) 1.48 9.35 Low 0.75 39.65 1.65 3.08 19.05 4.22 44.70 17.24 17.90 19.00 2.24 0.88

Close Chg 0.77 40.87 1.70 3.11 19.24 4.49 45.06 17.35 18.18 19.00 2.28 0.99

-0.21 1.01 -0.01 0.02 0.11 0.18 0.18 -0.41 0.12 -0.25 0.03 -0.25

Close 1,407.79 Listed cap 95,369.29 mn Payout (%) 104.13

Volume 71254 2641594 340540 3163568 21435 2050 904155 4910944 3121277 1400 591238 39404

Change 24.92 Market cap 115,158.12 mn Div Yield (%) 6.60

Last 60 days High Low 1.45 41.00 2.25 3.55 25.25 5.39 45.85 18.01 18.70 21.49 2.80 1.75

0.62 33.15 1.40 2.04 17.95 4.01 38.91 11.60 12.81 17.98 2.05 0.71

50 15 50 20 -

2011 Div BR (%) (%)

7.8R -

-

-

Company

Paid up Cap(mn)

Company Sui North Gas Sui South Gas

PE

5491 8390

8.23 3.33

Open

High

26.90 21.90

28.00 22.45

Low 27.00 21.76

Close Chg 27.66 0.76 22.11 0.21

Close 1,579.80 Listed cap 12,202.80 mn Payout (%) 66.79

Volume 287206 221485

Change 30.95 Market cap 33,737.84 mn Div Yield (%) 6.74

Last 60 days High Low 34.75 29.40

25.71 19.95

% Change 2.00 5-Day High 1,579.80 5-Day Low 1,543.24

2010 Div BR (%) (%) 20 15

2011 Div BR (%) (%)

25B

-

-

BANKS Performance of SR Banks Index Open 1,233.03 Turnover 30,703,345 P/E (x) 8.77 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 7.08 Askari Bank 6427 8.94 Bank Alfalah 13492 14.71 Bank AL-Habib 7322 8.28 Bank Of Khyber 5004 5.52 Bank Of Punjab 5288 BankIslami Pak 52801037.50 Faysal Bank 7309 5.15 Habib Bank Ltd 10019 7.92 Habib Metropolitan Bank 8732 8.53 JS Bank Ltd 8150 KASB Bank Ltd 9509 MCB Bank Ltd 7602 10.84 Meezan Bank 6983 10.10 Mybank Ltd 5304 National Bank 13455 6.88 Network Mic Bank 300 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Stand Chart Bank 38716 12.97 Summit Bank Ltd 5000 United Bank Ltd 12242 8.17

72.99 18.56 11.35 37.59 4.20 9.42 4.35 15.15 126.70 27.99 2.63 2.46 243.35 19.52 3.00 78.15 1.60 3.03 2.01 2.79 7.33 8.56 3.94 69.07

High

High Low Close 1,251.16 1,221.90 1,241.92 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.22 13.94 40.49 Low

Close Chg

73.75 71.15 72.88 -0.11 18.95 18.37 18.78 0.22 11.59 11.35 11.47 0.12 38.50 37.83 38.42 0.83 4.40 4.10 4.14 -0.06 9.73 9.41 9.51 0.09 4.50 4.10 4.15 -0.20 16.14 15.05 15.95 0.80 128.00 126.34 126.79 0.09 28.20 27.70 27.90 -0.09 2.65 2.55 2.57 -0.06 2.60 2.45 2.50 0.04 245.35 239.55 244.64 1.29 19.59 18.52 19.08 -0.44 3.08 3.00 3.07 0.07 79.35 78.20 78.83 0.68 1.59 1.20 1.59 -0.01 3.12 3.04 3.07 0.04 2.09 2.00 2.05 0.04 2.86 2.73 2.80 0.01 7.70 7.30 7.51 0.18 8.55 8.28 8.43 -0.13 4.09 3.87 4.03 0.09 70.10 68.87 69.52 0.45

Volume

Change 8.89 Market cap 743,849.02 mn Div Yield (%) 4.62

Last 60 days High Low

201024 74.00 2936384 18.95 3855072 11.59 720729 39.49 26752 4.70 6908132 10.59 168880 4.50 1737492 17.10 195832 128.97 52174 29.28 389155 3.00 47500 2.80 1800665 250.48 349573 20.30 199624 3.10 4578809 80.61 1000 2.40 801074 3.35 437946 2.65 2796639 3.05 129272 8.48 19600 9.04 369087 4.23 2350017 70.65

53.40 14.65 8.70 31.44 2.76 8.04 2.77 13.60 98.51 19.01 2.25 2.16 196.00 14.50 1.90 63.53 0.62 2.59 1.51 2.50 5.80 6.15 2.70 52.15

% Change 0.72 5-Day High 1,242.05 5-Day Low 1,192.82

2010 Div BR (%) (%)

2011 Div BR (%) (%)

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

-

-

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 822.03 Turnover 4,773,414 P/E (x) 13.72 Paid up Cap(mn)

Company Adamjee Insurance

PE

1237 27.43

Open 94.91

High 96.25

High Low 839.71 816.97 Total cos Defaulter cos P/BV (x) ROE (%) 0.71 5.20 Low 94.31

Close Chg 94.65 -0.26

Close 826.44 Listed cap 11,111.34 mn Payout (%) 79.54

Volume 1130000

Change 4.41 Market cap 50,425.73 mn Div Yield (%) 5.80

Last 60 days High Low 96.35

66.50

% Change 0.54 5-Day High 826.44 5-Day Low 794.17

2010 Div BR (%) (%) 10

2011 Div BR (%) (%)

-

-

-

10.00 31.00 9.65 3.10 39.48 10.60 78.00 53.19 14.00 5.56 2.10 8.33 6.15 11.65 6.01 4.71

10 -

25R 20B -

-

UP TO 100 VOLUME

-

Symbols BROT

Open

Change

Vol

0.40

-0.08

100

1.57

1.57

0.74

100

19.70

19.70

19.70

0.64

100

125.00

125.00

125.00

125.00

0.00

100

-0.21

95

65.50

65.39

62.25

65.39

-0.11

84

4400.22

4549.00

4425.09

4491.93

91.71

83

FECS

37.01

35.25

35.16

35.16

-1.85

76

CICL

80.40

78.35

78.35

78.35

-2.05

66

SHJS ULEVER

1.70

0.40

Close

1.58

19.06

FTSM

0.40

Low

0.83

MSOT SFL

0.48

High

ICCT

1.49

1.49

1.49

6.09

7.05

6.79

6.91

0.82

42

60.20

59.00

59.00

-1.45

33

HINO

124.99

126.99

125.00

126.99

2.00

31

1055.00

1016.00

1002.25

1013.93

-41.07

23

LIFE INSURANCE

CLOV

68.07

70.49

70.48

70.49

2.42

AABS

97.75

97.99

97.99

97.99

0.24

Performance of SR Life Insurance Index

TICL

53.39

50.75

50.75

50.75

-2.64

15

WAZIR

7.93

7.51

7.51

7.51

-0.42

15

% Change 1.42 5-Day High 884.49 5-Day Low 829.67

PMRS

45.00

45.00

44.50

44.50

-0.50

ATFF

4.73

4.68

4.68

4.68

-0.05

10

2011 Div BR (%) (%)

High Low 895.79 873.30 Total cos Defaulter cos P/BV (x) ROE (%) 3.82 3.85

Close 884.49 Listed cap 2,290.72 mn Payout (%) 355.53

Change 12.38 Market cap 10,313.92 mn Div Yield (%) 3.58

WYETH

21 20

13

11.00

11.68

11.68

11.68

0.68

10

55.00

54.70

54.70

54.70

-0.30

10

FIBLM

1.66

2.48

1.50

1.66

0.00

9

SIEM

1210.00

1213.00

1213.00

1213.00

3.00

4

ESBL

2.80

3.80

2.31

2.65

-0.15

3

PHDL

35.60

37.38

35.00

37.38

1.78

3

THCCL

17.75

18.00

18.00

18.00

0.25

3

DKTM

2.66

2.95

2.01

2.95

0.29

2

GWLC

7.40

7.77

7.77

7.77

0.37

2

NOPK

24.99

25.25

24.51

24.53

-0.46

PAKL

3.30

3.50

2.40

3.50

0.20

FINANCIAL SERVICES

TREI

1.95

1.89

1.89

1.89

-0.06

2

UPFL

1111.00

1160.00

1150.00

1155.00

44.00

2

Performance of SR Financial Services Index

ALQT

5.61

6.61

6.61

6.61

1.00

1

ALTN

10.74

PE

500 6.15 455 850 43.19 627 30.22

Open 18.39 2.98 74.99 43.60

High 18.39 2.41 76.99 45.78

Low 17.89 2.41 75.00 44.70

PE

225 1.57 360 3.64 450 14.24 3750 5.45 40 7.99 150 1.33 250 575 215 2121 18.13 600 731.00 2849 3166 626 0.68 7633 508 500 8.12 1000 30.29 1000 821 4.80 775 452 514 13.28 100 586 3.13

Open 0.66 18.39 27.22 28.54 12.15 1.23 2.24 8.00 1.01 2.90 7.33 0.80 3.20 1.80 11.95 4.14 28.77 7.17 4.78 6.21 1.97 0.74 3.50 2.49 1.71

High 0.74 18.51 28.00 29.96 12.15 1.90 2.30 7.48 2.01 2.95 8.10 0.87 3.74 1.94 12.80 4.49 30.20 7.40 5.14 6.75 2.20 0.79 3.32 2.25 2.00

Close Chg 18.39 0.00 2.41 -0.57 76.01 1.02 45.03 1.43

Low 0.65 18.00 26.83 28.80 12.15 1.45 2.07 7.00 1.11 2.80 7.16 0.65 3.25 1.78 11.87 4.15 29.00 7.02 4.95 6.30 1.95 0.69 3.32 1.49 1.70

Close Chg 0.69 18.49 27.91 29.66 12.15 1.49 2.20 7.40 2.01 2.90 7.31 0.67 3.48 1.90 12.60 4.20 30.20 7.27 5.01 6.53 2.15 0.70 3.32 2.25 2.00

0.03 0.10 0.69 1.12 0.00 0.26 -0.04 -0.60 1.00 0.00 -0.02 -0.13 0.28 0.10 0.65 0.06 1.43 0.10 0.23 0.32 0.18 -0.04 -0.18 -0.24 0.29

Last 60 days High Low

Volume 302 500 21982 5279

High Low 455.19 422.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.29 0.91

19.85 4.62 86.95 49.31

16.03 2.08 62.75 39.95

Close 444.07 Listed cap 30,336.44 mn Payout (%) 99.56

28245 23629 297974 10261185 2255 12624 16110 9102 2223 47022 4801 374018 252531 14210 16041777 865256 25132 539925 468591 33890 567001 11031 2000 110 11522

0.95 19.98 28.95 29.96 16.00 2.14 2.75 10.70 2.95 3.90 8.79 1.09 4.69 2.40 14.05 5.38 32.37 7.59 5.43 7.29 2.70 0.97 4.99 3.75 2.98

-

20R -

Change 15.78 Market cap 20,462.28 mn Div Yield (%) 3.07

Last 60 days High Low

Volume

2010 Div BR (%) (%)

0.33 16.00 24.40 22.30 11.00 1.10 1.28 6.73 0.18 1.50 6.16 0.53 2.95 1.05 9.13 2.16 24.76 5.63 3.61 4.70 1.61 0.46 1.67 1.42 1.26

2010 Div BR (%) (%) 30 11.5 10 -

20B 20B 10B -

-

-

% Change 3.68 5-Day High 444.07 5-Day Low 398.11

BILF CPMFI

2011 Div BR (%) (%) -

-

1.00

11.45

11.45

1.67

1.67

11.45

2 2

0.71

1.67

1

0.67

1

4.15

5.10

5.10

5.10

0.95

1

DIIL

11.68

11.00

11.00

11.00

-0.68

1

JOPP

9.10

8.33

8.33

8.33

-0.77

LPGL

12.00

12.89

12.89

12.89

0.89

MEHT

66.00

69.30

66.95

66.95

0.95

1

MFTM

1.11

1.21

1.21

1.21

0.10

1

PGCL

26.39

27.59

27.59

27.59

1.20

1

PGLC

9.80

9.00

9.00

9.00

-0.80

1

PSEL

179.99

171.00

171.00

171.00

-8.99

1

PTEC

2.40

2.50

2.39

2.39

-0.01

1

RCML

39.30

41.25

41.25

41.25

1.95

1

RMPL

2128.29

2227.00

2219.99

2219.99

91.70

RUBY

5.50

6.00

6.00

6.00

0.50

STML

25.90

26.48

26.48

26.48

0.58

1

TOWL

5.55

4.61

4.61

4.61

-0.94

1

UVIC

3.49

3.55

3.55

3.55

0.06

1

1 1

1 1

FUTURE CONTRACTS Symbols

Open

PTC-JAN

19.50

FFBL-JAN

41.21

42.80

41.40

42.34

1.13 2260000

ENGRO-JAN 220.74

223.01

215.11

218.37

-2.37 1390000

Change

20.31

Vol

0.81 3672500

11.65

10.80

11.65

1.00 1344500

152.34

148.00

149.43

4.34 1087500

341.50

333.00

339.73

5.97

726500

32.05

31.50

31.89

0.46

697000

NBP-JAN

78.61

79.60

78.26

79.21

0.60

646000

EQUITY INVESTMENT INSTRUMENTS

PSO-JAN

307.98

318.50

309.00

315.51

7.53

535500

NML-JAN

70.96

71.45

69.80

70.04

-0.92

511500

Performance of SR Equity Investment Instruments Index

MCB-JAN

244.56

246.00

240.50

245.50

0.94

217500

BOP-JAN

9.50

9.70

9.40

9.60

0.10

139000

AICL-JAN

95.44

96.80

94.90

95.39

-0.05

131000

PPL-JAN

Paid up Cap(mn)

1st Fid Leasing AL-Meezan Mutual F. AL-Noor Modaraba B F Modaraba B R R Guardian Mod. Constellation Modaraba Crescent St Modaraba Elite Cap Modaraba Equity Modaraba First Dawood Mutual F. Golden Arrow H B L Modaraba Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba Meezan Balanced Fund Mod Al-Mali Nat Bank Modaraba Pak Modaraba Pak Oman Advantage Paramount Modaraba PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st Punjab Modaraba Stand Chart Modaraba Tri-Star Mutual U D L Modaraba

PE

264 1375 210 75 780 65 200 113 524 581 760 397 1008 3180 1186 283 1200 184 250 125 1000 59 1000 2835 2841 872 340 454 50 264

10.00 7.49 5.33 2.17 3.91 3.30 1.50 3.75 15.31 0.69 2.30 2.71 5.79 75.00 19.29 1.29 7.32 20.50 5.81 5.05 7.15 2.24 9.50 7.84 2.50 4.70 2.50 1.72

Open 1.44 9.06 3.20 3.99 1.60 1.50 0.56 3.05 2.04 2.29 3.13 8.00 7.00 5.72 5.36 1.70 7.80 1.85 6.88 1.10 8.85 8.81 7.50 14.48 6.75 1.05 1.40 9.52 1.25 5.93

High 1.65 9.00 3.20 3.30 1.75 1.57 0.65 3.00 2.98 2.39 3.28 9.00 6.99 6.09 5.56 2.60 7.61 2.19 6.90 1.15 9.75 9.15 7.80 15.06 7.14 1.12 1.69 9.65 1.37 6.15

Low 1.32 8.95 3.00 3.30 1.56 1.25 0.50 2.75 2.00 2.10 3.12 7.66 6.72 5.80 5.21 1.70 7.51 1.70 5.88 0.95 9.75 8.88 7.35 14.40 6.61 1.05 1.35 9.25 0.90 6.05

Close Chg 1.60 8.99 3.20 3.30 1.72 1.45 0.60 3.00 2.45 2.17 3.22 8.14 6.72 6.00 5.40 1.75 7.61 2.05 6.27 1.01 9.75 9.15 7.69 14.82 6.90 1.10 1.59 9.58 0.90 6.07

0.16 -0.07 0.00 -0.69 0.12 -0.05 0.04 -0.05 0.41 -0.12 0.09 0.14 -0.28 0.28 0.04 0.05 -0.19 0.20 -0.61 -0.09 0.90 0.34 0.19 0.34 0.15 0.05 0.19 0.06 -0.35 0.14

Change 26.27 Market cap 19,124.84 mn Div Yield (%) 7.37

Last 60 days High Low

Volume 4005 146326 1100 11694 9432 436 2660 15003 1326885 31525 191268 171661 12500 3214555 564304 9905 8501 15055 6000 1521 1000 102 89575 351680 617961 5082 920 20115 9614 7500

2.00 9.15 3.80 4.20 2.79 1.99 1.10 3.49 2.98 2.39 3.80 9.00 7.10 6.09 5.56 2.60 8.25 2.50 7.74 2.00 13.98 9.30 7.80 15.06 7.14 1.20 2.54 10.29 2.45 6.64

1.18 6.05 2.10 2.89 0.90 0.93 0.16 1.73 1.05 1.30 2.56 5.11 5.80 2.65 2.31 1.26 5.15 0.56 4.50 0.46 8.00 7.57 5.00 7.90 3.52 0.81 0.50 8.50 0.86 4.71

2010 Div BR (%) (%) 18.5 5 0 1.2 5 17 11 21 5 10 2.8 15.5 10 3 1.04 18 10 20 10 3 1 17 12.5

10B -

% Change 1.89 5-Day High 1,417.40 5-Day Low 1,338.84 2011 Div BR (%) (%) -

145.09

POL-JAN

Close

31.43

Close 1,417.40 Listed cap 29,771.58 mn Payout (%) 104.74

10.65

FFC-JAN

Low 19.60

333.76

High Low 1,451.12 1,377.30 Total cos Defaulter cos P/BV (x) ROE (%) 0.49 2.21

ANL-JAN

High 20.50

DGKC-JAN

Open 1,391.13 Turnover 6,848,000 P/E (x) 22.07 Company

12.75 40.00 12.00 5.85 48.63 15.50 99.88 60.90 19.40 8.50 10.75 12.93 7.70 14.53 8.10 7.40

MRNS

Paid up Cap(mn)

AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp Arpak Int Dawood Cap Mangt. XB Dawood Equities First National Equity Grays Leasing IGI Investment Bank Invest and Fin Sec Invest Bank Ist Cap Securities Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec Saudi Pak Leasing Sec Inv Bank Trust Brokerage Trust Inv Bank

834 1192 21800 102 172675 11524 176502 10806 3154574 10000 21606 34729 1000 1197 22696 2110

60.45

GAS WATER AND MULTIUTILITIES High Low 1,601.36 1,547.67 Total cos Defaulter cos P/BV (x) ROE (%) 1.13 11.41

0.27 -0.59 0.02 -0.18 0.54 -0.19 0.51 1.69 0.42 -0.29 -0.01 0.09 0.09 -0.52 0.09 0.35

DMTM

Open 428.28 Turnover 19,650,983 P/E (x) 12.15 Company

10.87 38.70 11.20 4.69 44.40 14.70 93.00 58.53 18.94 8.00 9.79 12.21 6.70 12.45 7.24 7.09

HUSS

Paid up Cap(mn)

American Life East West Life EFU Life Assurance New Jub Life Insurance

Performance of SR Gas Water and Multiutilities Index Open 1,548.85 Turnover 508,691 P/E (x) 9.91

10.70 38.55 11.15 4.01 43.60 14.60 92.11 56.85 18.52 8.00 9.75 11.76 6.70 12.40 7.11 6.61

Open 872.11 Turnover 28,063 P/E (x) 5.90

% Change 1.80 5-Day High 1,407.79 5-Day Low 1,352.16

2010 Div BR (%) (%)

11.11 39.40 11.38 4.70 44.90 15.00 94.99 58.70 19.40 8.00 10.00 12.70 6.70 12.50 8.00 7.14

BAFS

Performance of SR Electricity Index Open 1,382.88 Turnover 15,808,860 P/E (x) 15.79

10.60 39.29 11.18 4.87 43.86 14.89 92.49 56.84 18.52 8.29 9.80 12.12 6.61 12.97 7.15 6.74

224.80

227.50

224.80

226.40

1.60

129000

LUCK-JAN

77.37

78.30

77.16

77.47

0.10

116000

UBL-JAN

69.24

70.39

68.75

69.53

0.29

82000

HUBC-JAN

39.27

41.00

40.00

41.00

1.73

54500

OGDC-JAN

173.84

175.35

173.50

175.17

1.33

36500

24.30

24.30

24.00

24.00

-0.30

5500

NETSOL-JAN 23.56

24.73

24.73

24.73

1.17

3000

POL-CJANW3333.18

333.18

333.18

339.20

6.02

0.00

MCB-CJANW3243.23

243.23

243.23

245.22

1.99

0.00

NCL-JAN

-

ZERO VOLUME Symbols

Open

High

Low

Close

ARM

15.00

15.15

15.15

15.15

0.15

1.68

1.29

1.29

1.29

-0.39

3.59

3.25

3.25

3.25

-0.34

FZCM

76.00

75.89

75.89

75.89

-0.11

0.00

GAEL

0.65

0.70

0.70

0.70

0.05

0.00

GUTM

18.88

19.88

19.88

19.88

1.00

0.00 0.00

CWSM EMCO

HAJT

0.65

0.60

0.60

Change

Vol 0.00 0.00 0.00

0.60

-0.05

HMIM

1.04

0.87

0.87

0.87

-0.17

HWQS

21.99

21.95

21.95

21.95

-0.04

KOSM

1.35

1.20

1.20

1.20

-0.15

0.00

MQTM

9.15

9.25

9.25

9.25

0.10

0.00

MTIL

0.75

0.69

0.69

0.69

-0.06

MUCL

15.34

15.30

15.30

15.30

-0.04

NPSM

22.30

22.00

22.00

22.00

-0.30

0.00

PPVC

1.25

2.25

2.25

2.25

1.00

0.00

REDT

0.99

0.98

0.98

0.98

-0.01

0.00

SALT

69.19

67.80

67.80

67.80

-1.39

0.00

SCLL

2.70

2.69

2.69

2.69

-0.01

0.00 0.00

0.00 0.00

0.00

BOARD MEETINGS

Fauji Fertiliser Bin Qasim Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

79.51

Support 1

12,578.15

MA (5-day)

12,444.67

Support 2

12,474.35

MA (10-day)

12,349.37

Resistance 1

12,741.15

MA (100-day)

10,821.65

Resistance 2

12,800.35

10,443.12

Pivot

major 1st resistance level at 12,741.15 and 2nd resistance level at

32.06

TFD Research

29.1

Brokerage House

Sell

AKD Securities Ltd

Accumulate

TFD Research

Technical Analysis 79.47 38.62 31.94 30.43

Fair Value

Rs Recommendations

24.04 30.5

Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,780.46 ** NOI Rs (mn) 143.96 Mean 41.80

* 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)

67.78 19.48 19.05 19.44

Buy Buy

TFD Research

36.85

Positive

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

585.00 11,840.39 80.80 19.90

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

FFBL is currently in an overbought condition.

average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend fore-

Brokerage House

TFD Research

Brokerage House

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

and Bollinger Bands were 38 per cent narrower than normal. DGKC is currently 18.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into DGKC (mildly bullish). Trend fore-

National Bank of Pakistan

Brokerage House

Rs Recommendations Sell

*Arif Habib Ltd

127.8

Hold

*Arif Habib Ltd

365.4

Buy

*Arif Habib Ltd

Buy

AKD Securities Ltd

122.1

Accumulate

AKD Securities Ltd

276.6

Neutral

AKD Securities Ltd

Neutral

TFD Research

Negative

TFD Research

360.05

Positive

TFD Research

208.75

Technical Outlook

Technical Outlook 71.63 206.33 182.56 185.94

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

114.33

147.48 32,086.09 214.00 218.51

* 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)

88.45 135.33 112.59 110.97

Rs Recommendations

373.19 55,485.87 382.35 148.03

* 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)

77.55 298.16 275.15 279.23

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

Fair Value

Rs Recommendations

82.1

Buy

61.96

Neutral

92.3

Positive

Technical Outlook

Technical Outlook

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

Fair Value

182.55 5,797.78 46.99 31.58

DGKC closed up 0.49 at 31.76. Volume was 144 per cent above average

176

Brokerage House

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

74.16 23,272.37 148.59 311.57

* 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)

68.84 77.69 67.52 68.12

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

318.44 25,102.96 112.65 78.63

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

ENGRO closed down -2.12 at 217.56. Volume was 296 per cent above aver- FFC closed up 4.15 at 148.68. Volume was 518 per cent above average PSO closed up 7.62 at 313.80. Volume was 412 per cent above average NBP closed up 0.68 at 78.83. Volume was 9 per cent above average and (trending) and Bollinger Bands were 297 per cent wider than normal. (trending) and Bollinger Bands were 13 per cent narrower than normal. Bollinger Bands were 48 per cent wider than normal. ENGRO is currently 17.0 per cent above its 200-day moving average and is FFC is currently 33.9 per cent above its 200-day moving average and is PSO is currently 12.4 per cent above its 200-day moving average and is NBP is currently 15.7 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the 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 average volatility over the last 10 trading sessions. Volume indicators reflect 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 moderate flows of volume into ENGRO (mildly bullish). Trend forecasting oscil- reflect very strong flows of volume into FFC (bullish). Trend forecasting reflect very strong flows of volume into PSO (bullish). Trend forecasting lators are currently bullish on ENGRO. Momentum oscillator is currently indi- oscillators are currently bullish on FFC. Momentum oscillator is currently oscillators are currently bullish on PSO. Momentum oscillator is currently reflect moderate flows of volume into NBP (mildly bullish). Trend forecastage (trending) and Bollinger Bands were 156 per cent wider than normal.

cating that ENGRO is currently in an overbought condition.

indicating that FFC is currently in an overbought condition.

indicating that PSO is currently in an overbought condition.

ing oscillators are currently bullish on NBP.

Time

Invest Capital Investment Bank Ltd MirzaSugar Mills Limited Pangrio Sugar Mills Limited Dandot Cement Company Ltd Latif Jute Mills Fatima Fertilizer Company Limited Pakarab Fertilizers Limited Ideal Energy Limited Pakistan Tobacco Co Invest Capital Investment Husein Industries Limited Siemens (Pakistan) Engineering Co Hinopak Motors Limited Pakistan Petroleum Ltd Meezan Islamic Fund Meezan Islamic Income Fund Meezan Capital Protected Fund-1 Meezan Balanced Fund Fauji Fertiliser Bin Qasim Ltd Attock Refinery Limited

19-Jan 19-Jan 19-Jan 19-Jan 20-Jan 20-Jan 20-Jan 21-Jan 21-Jan 22-Jan 22-Jan 23-Jan 24-Jan 24-Jan 24-Jan 24-Jan 24-Jan 24-Jan 25-Jan 27-Jan

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

TECHNICAL LEVELS

casting oscillators are currently bullish on DGKC.

Pakistan State Oil Co Ltd

Rs Recommendations

64.54 30.54 27.53 26.92

238.8

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

Fair Value

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

Fair Value

*Arif Habib Ltd AKD Securities Ltd

ing oscillators are currently bullish on PTC.

Fauji Fertiliser Co

Engro Corporation

Technical Analysis

Date

Company

Technical Outlook

currently indicating that INDEX is currently in an overbought condition.

KSE 100 INDEX is currently 21.5 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the

Rs Recommendations

42 43.29

Technical Outlook

Leverage Position

Fair Value

*Arif Habib Ltd AKD Securities Ltd

casting oscillators are currently bullish on INDEX. Momentum oscillator is

12,578.15 and 2nd support level at 12,474.35.

Brokerage House

Buy

FFBL closed up 1.12 at 42.15. Volume was 532 per cent above average PTC closed up 0.78 at 20.24. Volume was 853 per cent above average (trending) and Bollinger Bands were 93 per cent wider than normal. (trending) and Bollinger Bands were 27 per cent narrower than normal. FFBL is currently 38.6 per cent above its 200-day moving average and is PTC is currently 4.1 per cent above its 200-day moving average and is disdisplaying an upward trend. Volatility is high as compared to the average playing an upward trend. Volatility is extremely high when compared to the volatility over the last 10 trading sessions. Volume indicators reflect very average volatility over the last 10 trading sessions. Volume indicators strong flows of volume into FFBL (bullish). Trend forecasting oscillators are reflect moderate flows of volume into PTC (mildly bullish). Trend forecastcurrently bullish on FFBL. Momentum oscillator is currently indicating that

12,800.35, while Index will continue to find its 1st support level at

Dera Ghazi Khan Cement Co Ltd

Positive

Negative

Technical Outlook

12,637.35

wider than normal. As far as resistance level is concern, the market will see

Rs Recommendations

34.7

RSI (14-day) MA (10-day) KSE 100 INDEX closed up 148.40 points at 12,681.94. Volume was 193 MA (100-day) per cent above average (trending) and Bollinger Bands were 43 per cent MA (200-day) MA (200-day)

Fair Value

*Arif Habib Ltd AKD Securities Ltd

Pakistan Telecommunication Co Ltd

Company

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

RSI 1st 2nd (14-day) Support 45.99 3.05 3.00 72.51 71.45 70.00 48.33 62.05 61.50 75.19 29.00 28.30 64.58 27.15 26.40 71.39 93.90 93.15 72.95 18.45 18.10 72.10 11.10 10.50 78.13 374.60 368.60 76.55 141.85 139.00 63.36 11.35 11.25 65.70 4.00 3.85 47.08 9.35 9.25 52.27 2.10 1.95 64.54 31.40 31.00 59.12 3.10 2.95 50.25 2.50 2.35 55.74 43.70 43.00 53.70 75.00 74.00 71.63 213.45 209.30 63.91 15.30 14.60 58.89 5.10 5.00 79.47 41.40 40.65 88.45 146.65 144.60 65.81 126.10 125.40 81.94 40.00 39.15 72.77 155.40 153.70 84.04 292.05 285.15 58.73 4.05 3.95 49.08 1.65 1.55 50.16 2.55 2.50 44.21 12.05 11.50 76.33 44.75 44.45 61.50 3.05 3.00 75.56 15.30 15.15 58.49 76.60 76.05 71.54 241.00 237.40 46.41 2.75 2.70 68.84 78.25 77.65 60.87 23.90 23.65 89.68 24.35 23.95 55.88 3.05 3.00 52.29 1.90 1.85 70.21 69.10 68.45 58.57 173.75 172.45 66.93 2.90 2.55 52.79 2.00 1.85 55.96 2.40 2.35 59.71 7.05 6.90 84.69 333.45 328.45 67.58 223.85 222.10 52.88 70.95 70.25 77.55 308.95 304.05 67.78 19.60 19.00 71.56 213.80 209.95 52.69 27.10 26.55 60.28 13.70 13.45 54.81 21.75 21.40 60.01 2.25 2.15 50.17 3.40 3.25 67.73 68.90 68.25 59.98 2.80 2.60

1st

2nd

Resistance 3.30 3.50 74.05 75.20 63.00 63.50 30.15 30.65 28.35 28.75 95.85 97.00 19.05 19.30 11.95 12.25 388.00 395.40 147.25 149.75 11.60 11.70 4.40 4.65 9.70 9.85 2.30 2.40 32.05 32.35 3.40 3.55 2.85 3.00 45.00 45.60 77.00 78.00 222.25 226.90 16.35 16.80 5.25 5.30 42.80 43.45 151.25 153.80 127.75 128.70 41.35 41.85 158.40 159.70 307.80 316.65 4.40 4.60 1.75 1.85 2.65 2.70 12.95 13.35 45.30 45.55 3.20 3.30 15.75 16.00 77.85 78.55 246.80 249.00 2.90 2.95 79.40 79.95 24.50 24.85 25.60 26.45 3.15 3.20 2.05 2.15 70.80 71.85 175.95 176.85 3.40 3.60 2.25 2.35 2.55 2.65 7.40 7.60 342.40 346.45 227.30 229.00 72.40 73.20 318.20 322.65 20.65 21.10 219.85 222.05 28.10 28.55 14.20 14.45 22.45 22.80 2.50 2.60 3.65 3.75 70.15 70.75 3.15 3.30

Pivot 3.25 72.60 62.50 29.45 27.60 95.05 18.70 11.35 382.00 144.35 11.45 4.25 9.55 2.20 31.70 3.25 2.70 44.30 76.00 218.10 15.70 5.15 42.05 149.20 127.05 40.50 156.70 300.90 4.30 1.70 2.60 12.40 45.00 3.15 15.60 77.30 243.20 2.80 78.80 24.25 25.20 3.10 2.00 70.15 174.65 3.10 2.10 2.50 7.25 337.45 225.55 71.70 313.35 20.05 216.00 27.55 13.95 22.10 2.35 3.50 69.50 2.95


8

Tuesday, January 18, 2011

BT proposes 'duct & pole' broadband sharing tariff

AHMEDABAD: A model poses by large scale models of the Cookie Fresh (LG GS290) and Cookie Plus (LG GS500V) mobile phones during the products' national launch.-Reuters

iPhone 4, Galaxy S stay hot in quarter

Samsung warbles, but Apple waltzes HELSINKI/SEOUL: Hot smartphone models, the iPhone 4 and Samsung's Galaxy S, are forecast to have helped their makers race further ahead of rivals in the holiday sales season at the end of 2010. On average analysts expect global cellphone sales volumes to have grown 10.8 percent in October-December, a Reuters poll of 32 banks, brokerages and research firms showed. "Indications point to further substantial strengthening of demand in the fourth quarter," said Geoff Blaber, an analyst at research firm CCS Insight. The phone market has recovered from a slump in 2009, but growth is expected to have peaked in the first half of 2010, with further slowdown, to 8.4 percent, forecast for 2011, the Reuters poll showed. "In 2010 we saw a gulf emerge between winners and

losers which will only widen in 2011," Blaber said. Among the largest phone makers reporting their December quarter earnings in the next two weeks only Apple and Samsung Electronics are expected to win further market share, with all others seeing their share shrinking. Apple, the first cellphone vendor to unveil its December quarter earnings, will report on January 18, while Samsung is scheduled to wrap the cellphone industry reporting season on January 28. Sony Ericsson is due to report on January 20. LG Electronics and Motorola report on January 26, with the largest phone maker Nokia due on January 27. Despite slowing demand in the PC industry, all comments from vendors point to strong cellphone demand at the end of the year. The market for phones tends to jump 10-15

percent in the fourth quarter from the third quarter, as many consumers buy the latest gadgets for Christmas gifts. Overall market growth is expected to slow to 8.4 percent this year, the poll showed, from 13 percent last year, when the industry growth benefited from weak comparison data in 2009. The Galaxy S smartphone, which hit 10 million unit sales mark early this month, is set to lift Samsung's results. It expects smartphone sales will more than double this year to at least 50 million handsets as it manufactures new models of Galaxy S, and other new models. Samsung's home rival, LG Electronics, is expected to report another quarter of heavy losses in its phone unit, due to a weak lineup and rising marketing costs from propping up faltering sales of its cheap and aging models.-Reuters

Mobilink-Nadra JV to ease footing utility bills KARACHI: Mobilink has formally collaborated with Nadra Technologies Limited to facilitate payment of utility bills. A statement issued here said that this service will be available freeof-charge and round-the-clock. Deputy Chairman Nadra, Tariq Malik, and Vice President Marketing Mobilink, Bilal Munir Sheikh, inked the agreement to this effect. The statement pointed out that the Nadra Technologies Limited (NTL) has undertaken this innovative approach to develop an eSahulat billing switch to provide an integrated system response to clients for payment of utility bills through alternate channels like mobiles phones, internet, ATM, bank branches, and telcos outlets. The facility will empower Mobilink retailers to accept and deposit utility bills from all Mobilink and Non Mobilink customers. Even people who do not own a mobile phone can avail this service by walking into a Mobilink retailer's outlet and depositing their utility bills round the clock, within the due dates. At the signing ceremony, Tariq Malik, Deputy Chairman Nadra said, "Through this service, we are taking the bill payment facility to places where banks are not present." He further emphasised that "e-Sahulat plat-

form is a tip of the iceberg and NTL is in process of transforming this platform into National Smart Service Platform for e-commerce. "Through this Smart Service Platform organisations can utilize e-Sahulat touch points for cash in and cash out transactions under branchless regulations issued by State Bank of Pakistan.This arrangement will help commercial banks and Telecom operators to extend branchless banking concept through e-Sahulat without raising any infrastructure thereby saving capital and operational cost", he added. Bilal Munir Sheikh, Vice President Marketing, Mobilink said, "We commend NTL's efforts to reach out to the common people of Pakistan, a vision we are pleased to share with them.-APP

LONDON: BT Group has proposed prices for broadband rivals to use its phone line poles and underground ducts for their own fibre-optic networks, in response to the industry regulator's demands to increase competition. BT and Virgin Media are Britain's only telecom companies with national fibre networks for super-fast broadband, and rivals are dependent on renting infrastructure to offer their own services. "Now we're doing what we promised by offering the communications industry yet another way of accessing our network in order to deliver superfast broadband speeds to homes and businesses," said Steve Robertson, chief executive of BT's local access division Openreach, in a statement. Regulator Ofcom put forward proposals in October to increase superfast services through duct and pole sharing and by giving companies dedicated access to new fibre lines laid by BT. Duct and pole access could encourage other providers to extend the reach of fast broadband services to more remote areas, potentially in combination with public funding at a UK or European level, Ofcom said at the time. BT plans to charge 0.95 pounds a metre to rent space in its ducts for a year, which it said was 15 per cent lower than equivalent average charges across France, Spain, Portugal and Germany, and 21 pounds for a pole attachment. BT said it expects commercial launch of duct and pole services in summer 2011 after consultation with the industry. BT shares closed down 1.9 per cent at 182.09 pence, underperforming the European telecoms index, which closed down 0.6 per cent.-Reuters

Nokia killing its free music downloading HELSINKI: The world's top cellphone maker, Nokia, is ending its bundling of free music downloads with cellphones in 27 countries, where it has gained little traction since its 2008 launch. Nokia will continue to sell phones with 12-month subscription to free music downloads in China, India and Indonesia and with 6-month subscriptions in Brazil, Turkey and South Africa. All four major labels -Vivendi's Universal Music, EMI, Warner Music Group and the music arm of Sony -signed up for the service, which was seen at start as a major challenger for Apple's iTunes. Nokia unveiled the service in late 2008 in Britain -- seen as a test market for new mobile services in Europe -but has lacked operator support and failed to attract many customers. Reasons behind the lacklustre performance include use of older supporting handsets for the product at its launch, digital rights management (DRM) software that tied downloaded music to the device and a difficult to understand product offering. "The markets clearly want a DRM-free music service," said a spokesman for Nokia, adding the firm continues to offer DRM-free tracks through its music store in 38 countries. DRM software limits sharing of songs between different devices. Consumers with the free music bundle in the 27 countries where the sale of the service have stopped will continue to have access until their subscriptions run out.-Reuters

3G by the end of this yr ISLAMABAD: Secretary Cabinet Division Abdur Rauf Chaudhry has said that 3G services would hopefully be available to the mobile users by the end of 2011. He said it is expected that the policy for the auction of 3G services licences would soon be presented to the government and Economic Coordination Committee (ECC) for discussion and approval. He was speaking at a seminar organised by Pakistan Telecommunications Authority (PTA) in collaboration with Qualcomm and Central Asian Cellular Forum (CACF) in Islamabad on 3G services. The theme was "Opportunities for All: Development of 3G Devices in Pakistan". Chairman PTA, Dr Mohammed Yaseen, moderated the ceremony. Delegates from Board of Investment, Pakistan Engineering Council, Ministry of IT, Representatives from Qualcomm, IT & Telecom Industry experts, CEOs of telecom companies, International Original Equipment Manufacturers (OEMs), local investors, mobile distributors, academia and media representatives attended the seminar. The Secretary said that the local manufacturing of 3G handsets is very important and govt would consider the recommendations given by the industry during the seminar.

On this occasion, Chairman PTA, Dr Mohammed Yaseen said that by the end of this quarter we will be able to roll out plans for 3G services once the policy is approved by the government. He said that handset manufacturing is a vital segment of mobile eco system, by the end of 2011, there will be an estimated sales volume of 300 million 3G mobile handset around the globe. Pakistan offers an excellent opportunity for investment in 3G handset manufacturing with availability of skilled manpower and upward growth of mobile market. He said that creation of a favorable climate for high value added, low cost R&D, production and marketing will certainly bring investment into the country. During the seminar Chairman PTA also delivered a comprehensive presentation to highlight the worldwide practices regarding 3G manufacturing. He presented various investment incentives offered in various countries. Chairman also highlighted the present 3G handset market in Pakistan with necessary future roadmap to promote handset manufacturing industry in the country. Raheel Kamal, Sanjeet Pandit, and Hani Yassin of Qualcomm also delivered presentations highlighting magnitude and importance of 3G Manufacturing in Pakistan.APP

Advisory panel for the cellular industry shortly ISLAMABAD: Federal Minister for Information Technology and Telecommunications, Sardar Aseff Ahmed Ali, has said that an advisory board will be formed to address the technical issues of cellular industry. The minister expressed these views while talking to a delegation of senior executives of cellular mobile operators who called on him here to discuss long outstanding issues. He assured his full support to resolve the problems of the cellular industry and appreciated the role, the industry is performing for the growth and development of the telecommunication sector. The heads of Mobilink, Telenor, Ufone, Warid and Zong celluar companies

jointly informed the minister of the hardships they are facing while running their organisations. The minister noted that telecom industry needs to be supported so that stagnancy of last couple of years of the sector can be removed and growth is stimulated. This can only be possible with strong public partnership where government would act as facilitator and private sector should invest for providing modern telecom services to all areas of Pakistan besides creating employment opportunities. The minister said the government believes in empowering of people and would extend all possible assistance to the industry as contribution towards national development.-APP

Mobile airwaves let US mkt stay winning WASHINGTON: Global competitiveness in the US telecom and media sector will hinge on making more airwaves available to keep pace with the booming wireless market, government and industry officials agreed last week. Federal Communications Commission Chairman Julius Genachowski said US spectrum infrastructure is being outstripped by consumer demand for new wireless devices, threatening US global leadership in wireless innovation. "Every month that goes by without tackling this is a month that hurts us from a global competitiveness perspective," he said during a Brookings Institution discussion last week. AT&T Inc Chief Executive Randall Stephenson said 10 megahertz of spectrum, in years past, would last the company four or five years. "We'll burn through that in about 10 months," he told the forum on growth through innovation. The Obama administration has endorsed making 500 megahertz of spectrum available over the next 10 years to meet the growing demand for broadband services. The FCC hopes to repurpose 120 megahertz of spectrum through incentive auctions where television broadcasters like CBS Corp would voluntarily give up spectrum in exchange for a portion of the proceeds. Congress must give the FCC authority before such auctions can go ahead. "It could be one of the areas where Chairman Genachowski is able to attract some bipartisan support when you consider that Congress is looking for ways to reduce the federal deficit," Medley Global Advisors analyst Jeffrey Silva told Reuters. House Energy and Commerce Committee Chairman Fred Upton said in a statement issued that finding additional spectrum for broadband would be a priority this year and legislation would likely include "voluntary incentive auctions." The powerful National Association of Broadcasters has said it does not oppose "truly voluntary" incentive auctions if they do not threaten the transmission of free, local television. Genachowski said he was "hopeful but not certain" that Congress would approve the auctions.-Reuters

NEW DELHI: CEO Olive Telecom America, David Hind poses with a Indian model during a launch of India's first 3G Tablet-Olive pad-VT100. Reuters


9

Tuesday, January 18, 2011

Oil falls as USD rises, Brent close to $100 OPEC says market well supplied, sees higher inventories Al Hamli said markets were well supplied and prices reflected market conditions. But the head of the International Energy Agency, Nobua Tanaka, said on Monday oil prices were alarming at current levels and would have a negative impact. O P E C Secretary G e n e r a l Abdullah alBadri told an Austrian newspaper that, while the organization was ready to act to address supply shortages in the oil market, it would not intervene if prices were driven by speculation. At this stage, higher output would not stem a rise in oil prices, as the climb is driven by increasing demand in emerging countries, chief executive of French oil major Total Christophe de Margerie told Reuters on Sunday. News a key Alaskan oil pipeline was about to reopen after being closed for over a week also put some extra pressure on oil prices, analysts said.-Reuters

LONDON: Oil slipped on Monday while the dollar strengthened and equities faltered as OPEC said the market was well supplied and inventories should climb in the first half of the year. North Sea Brent crude futures on the Intercontinental Exchange (ICE) consolidated around $6 above US crude oil futures and were not far below $100 per barrel, a level not seen since the beginning of October 2008. US crude for February fell 36 cents to $91.18 by 1450 GMT, while ICE Brent for March lost 50 cents to $97.88. The spread between the two futures contracts has narrowed since the ICE Brent contract for February expired on Friday. At one point, the spread between the two February contracts hit more than $8.20 a barrel, its widest in 23 months. US markets were closed for the Martin Luther King holiday and traders said that was likely to help keep oil futures within fairly narrow ranges on Monday.

OPEC said on Monday the world oil market remained well supplied and inventories should build in the first half of the year, even it raised its 2011 global oil demand growth forecast. The Organization of the Petroleum Exporting Countries increased its global oil demand

Tokyo rubber hits record high on supply woes

Palm oil off 1-mth lows; supply tightness eyed

TOKYO: Key Tokyo rubber futures rose to a record peak on Monday, with traders expecting further gains on mounting concerns over supply tightness when demand remains solid in emerging countries. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery rose 3.9 yen or 0.9 per cent to settle at 458.3 yen per kg. The contract hit a record high of 460.4 yen earlier on Monday. The most active Shanghai rubber futures contract for May delivery closed at 38,260 yuan ($5,808) after rising as high as 38,885 yuan, which was just short of a record high of 38,920 hit in November. Volume stood at 657,014 lots. The rally in Shanghai rubber futures lost steam as Chinese shares fell more than 3 per cent on Monday afternoon, partly weighed down by the Chinese central bank's announcement late last Friday of a rise in Chinese lenders' reserve requirements. -Reuters

growth forecast by 50,000 barrels per day (bpd) to 1.23 million bpd in 2011. OPEC said in its monthly report the early onset of winter weather and an increase in investment flows into commodities were among the factors behind a recent surge in prices. The group maintained its view that consumers have enough oil. The UAE's oil minister said fluctuating prices were not a worry: "The price keeps going up and down and all I can say for now is that we are happy," Mohammed al-Hamli told reporters.

JAKARTA: Malaysian palm oil ended off one-month lows hit earlier on Monday as investors were worried that prices had overcooked the strong fundamentals in recent weeks. Palm oil rallied in recent weeks, driven by concerns that heavy rains have curbed Malaysian and Indonesian output and a dry spell may affect the Argentine soy crop. On Jan 4, prices touched 3,905 ringgit, a peak not touched since March 2008. "There are no fresh factors around, the market has possibly been running ahead when it went to 3,905," said one trader in Malaysia. "I don't see many bearish factors at the moment. "It is quite possible that the long (positions), who have been holding on for quite some time ... are now looking for fresh factors to reenter the market." The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives fell as much as 0.7 per cent to 3,618 ringgit ($1,183) per tonne, the lowest since Dec. 22. It rose 0.2 per cent at the close. Overall, traded volume stood at 10,525

lots of 25 tonnes each, compared with 11,427 lots on Friday. Earlier, prices had peaked at 3,685 ringgit, supported by export data and expectations that demand from emerging markets would outpace supplies in the coming months. On Saturday, Exports of Malaysian palm oil products for Jan. 1-15 rose 3.68 per cent to 589,010 tonnes from 568,127 tonnes shipped during Dec. 1-15, cargo surveyor Intertek Testing Services said. "Exports are very good -- the first 15 days of exports are up," said a third palm oil trader, adding that some in the market expected a fall in exports. The most-active Sept 2011 soyoil on the Dalian Commodity Exchange eased 0.6 per cent to 10,520 yuan. "China soyoil fell after hitting the highest level prompted by USDA crops report the previous week," said an oil analyst with a Shanghai brokerage. "It was further pressured by the Chinese central bank's move to raise lenders' required reserve on Friday, which indicate an expectation of interest rate hike in near future." -Reuters

Copper steady; dollar, demand fears cap gains LONDON: Copper was little changed on Monday, supported by equity markets in Europe but constrained by a stronger dollar and concerns that top metals consumer China will step up its fight against inflation and crimp demand. Benchmark copper on the London Metal Exchange ended at $9,630 versus Friday's $9,650 close. Trading was also subdued because of a holiday in the United States. European equities ended flat after cautious trade ahead of a meeting of finance minister to increase the euro-zone's rescue fund. But the euro fell broadly, as hopes for an immediate increase in the fund faded. Earlier rises had helped sustain copper. "It (copper) has rebounded a bit, supported by equity markets, which turned positive," Daniel Briesemann, an analyst at Commerzbank. "I'm a bit surprised the metals market has held up, given big losses in Chinese markets overnight and the strong dollar." Chinese equities markets fell on Monday after the country's

central bank on Friday raised lenders required reserves for the fourth time in just over two months to tame inflation, one of its top priorities this year. Copper premiums for physical

Shanghai copper edges up London copper prices rose $10 on Monday, flirting with record highs, while Shanghai copper edged higher, shrugging off China's latest policy tightening move to focus instead on positive US data. Shanghai's benchmark third-month copper futures contract gained 50 yuan to 71,200 yuan a tonne.

material in Europe softened this week as buying slowed ahead of the Lunar New Year holiday in some Asian countries from Feb. 2-8. Nickel prices hit their highest since May 2010 at $26,100 a

tonne at one point, before news that a top nickel miner will return to production. Nickel closed at $25,835 a tonne, down from Friday's $26,850 close. Inventories of copper resumed their rise, up by 2,775 tonnes net to 379,000 tonnes, the most recent LME data showed. Copper stocks have largely climbed since mid-December but are still down by about a third from cycle highs hit last February at 555,075 tonnes. Demand for ETF Securities copper exchange-traded product (ETP) has remained modest, last at just under 2,000 tonnes. Lead ended at $2,645 versus Friday's close of $2,678 a tonne. Zinc closed at $2,455 a tonne, from $2,457. Aluminium closed at $2,435 a tonne from $2,472 on Friday while tin was bid at $26,925 from $26,850 a tonne. Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for January 14 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 14 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

2250 2251 2215 2225 2140 2150 2140 2150

2452 2453 2467 2467.5 2520 2525 2553 2558

9590 9591 9571 9572 9375 9385 8995 9005

2651 2652 2630 2635 2555 2560 2502 2507

25460 25465 25450 25455 24950 25050 24025 24125

TIN

26750 26755 26600 26625 26050 26100

ZINC NASAAC

2430 2431 2439 2440 2463 2468 2430 2435

2400 2410 2425 2435 2450 2460 2505 2515

European vegetable oil prices ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Feb11/Apr11 1021.00-4.00, May11/Jul11 1030.00-4.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 1090.00, May11/Jul11 1080.00+5.00, Aug11/Oct11 1005.00+0.00, Nov11/Jan12 1010.00+0.00, Feb12/Apr12 1020.00+5.00. SUNOIL: EU dlrs tonne extank six ports option Feb11/Mar11 1485.00+5.00, Apr11/Jun11 1460.00+5.00, Jul11/Sep11 1475.00-5.00, Oct11/Dec11 1380.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Feb11/Mar11 1510.00-2.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Jan11 1262.50+2.50, Feb11 1262.50+2.50, Mar11 1257.50+0.00, Apr11/Jun11 1240.00+0.00, Jul11/Sep11 1232.50+2.50. PALMOIL: RBD dlrs tonne cif Rotterdam Feb11 1297.50, Mar11 1290.00, Apr11/Jun11 1272.50. PALMOIL: RBD dlrs tonne fob Malaysia Feb11 1242.50+5.00, Mar11 1235.00+7.50, Apr11/Jun11 1217.50+0.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Feb11 1252.50+7.50, Mar11 1245.00+10.00, Apr11/Jun11 1227.50+2.50, Jul11/Sep11 1207.50+2.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Feb11/Mar11 2020.00+50.00, Mar11/Apr11 2000.00+40.00, Apr11/May11 1990.00+40.00. -Reuters

Indian sugar goes down on weak demand MUMBAI: Indian sugar prices fell on Monday on poor demand and as a few cashcrunched millers were offering the sweetener at lower price, dealers said. "Millers have lowered prices in tender due to weak demand. Mills need money to make cane payment," said Shrikant Karwa, a sugar dealer based in Phaltan, Maharashtra. Mills usually pay farmers a large chunk of the cane price immediately after harvesting or within a fortnight of harvesting. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety edged up by 0.5 per cent to 2,750 rupees ($60.4) per 100 kg. The most-traded M-grade sugar contract for February delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended down 0.63 per cent at 2,839 rupees per 100 kg. The Indian Sugar Mills Association, a producers' body, had forecast 2010/11 output at 25.5 million tonnes, up from 18.8 million tonnes in the previous year. A panel of Indian ministers will review permission for overseas sales of 500,000 tonnes of sugar, two government sources had said last week. -Reuters

NEW DELH: A vegetable vendor sells onions in New Delhi. -Reuters

Gold steadies as USD limits gains LONDON: Gold held at around $1,360 an ounce on Monday, stabilising after posting a second successive weekly fall last week, as a stronger dollar tempered some of the gains made from consumer demand for bullion. The gold price has retreated by more than 4 per cent since the start of the year, driven lower by declining investment, renewed

gold hasn't really reacted to that, but consolidation is certainly our view and we see physical demand on price dips below $1,360, which should support gold," he said. Physical demand for gold stayed robust ahead of the Lunar New Year celebrations in early February, and bargain hunting materialised in the Asian market after prices

optimism over the US economic outlook and a more robust dollar, which undercuts gold's appeal to non-US buyers. Holdings of gold in the world's largest bullion-backed exchange-traded fund fell to their lowest since June 3 on Monday, while speculators cut their holdings of US gold futures to their lowest since April 2010 last week. Spot gold was last almost unchanged on the day at $1,360.50 by 1555 GMT, having touched a one-week low of $1,354.99 on Friday and having fallen by more than US gold futures which were down 0.1 per cent at $1,359.70. "If you take a three to 12month view, it will still be at higher (price) levels, but in the short term, gold is going to find it difficult to rally," said Standard Bank analyst Walter de Wet. "We have seen the dollar depreciate last week and

dropped and spot supply remained tight, dealers said. But the combination of a stronger dollar, weaker investment interest and rising bond yields, especially in the United States, have undermined some of the positive sentiment that resurfaced late last year towards gold. With gold looking more fragile, silver also came under pressure, falling for a third day in a row, by nearly 1 per cent to its lowest in a month. Spot silver was last at $28.28 an ounce, compared with $28.42 late in New York on Friday. Platinum came under pressure, declining by 0.3 per cent to $1,803.24 an ounce, but remained within 1 per cent of last week's 30-month high at $1,826.74. Palladium pared earlier losses to turn flat at $790.97, having risen last week to its highest in 10 years. -Reuters

Cocoa falls as supplies flow out of West Africa LONDON: Cocoa futures in London dipped on Monday as plentiful crop supplies continued to flow out of West Africa, though trade was thin as a US public holiday shut New York markets. Robusta coffee futures edged up, with the market underpinned by the large discount of robustas to arabicas, while London sugar futures rose as the fate of Indian exports remained unclear and large consumer Indonesia increased sugar imports. Volumes on Liffe were light, with US markets shut for Martin Luther King Jr. day, which means price moves could be exaggerated. The May cocoa contract on Liffe fell 1.4 per cent or 29 pounds to 1,978 pounds per tonne by 1515 GMT as trade houses hedged purchases from West Africa, a London-based trader said. London robusta coffee futures rose, boosted by industry buying that was taking advantage of robusta's discount compared to higher-quality arabicas, dealers said. Liffe robusta coffee futures for March rose 0.9 per cent or $20 to $2,144 per tonne after last week hitting $2,185, the highest level for the benchmark second month since Sept. 2008. White sugar futures in London also climbed after a sharp dip in the previous session as the focus remained on India, the world's number 2 sugar producer after Brazil. London March white sugar rose 0.5 per cent or $3.70 to $776.70 per tonne. -Reuters

National Commodity Exchange Ltd Trading Summary Date

17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-Jan-2011 17-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 20JA11 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

90.47 91.53 92.49 28.38 28.46 1365.10 1365.70 1365.50 1362.10 1365.70 1366.60 37837.00 37750.00 37859.00 37809.00 37818.00 44100.00 44100.00 38872.00 38915.00 38929.00 38943.00 38957.00 44900.00 45090.00 44919.00 45000.00 44950.00 3367.00 3364.00 5186.00 86.16 85.33

91.63 92.60 93.59 28.71 28.46 1367.30 1369.20 1369.60 1367.90 1365.70 1366.60 37837.00 37846.00 37859.00 37809.00 37818.00 44100.00 44100.00 38872.00 38915.00 38929.00 38943.00 38957.00 44900.00 45146.00 45000.00 45000.00 44957.00 3367.00 3364.00 5186.00 86.18 85.34

90.46 91.50 92.49 28.04 28.26 1355.20 1355.60 1356.70 1356.00 1361.20 1361.20 37741.00 37575.00 37764.00 37714.00 37723.00 43989.00 43989.00 38834.00 38777.00 38791.00 38806.00 38820.00 44626.00 44561.00 44577.00 44593.00 44609.00 3354.00 3353.00 5125.00 86.16 85.33

91.14 92.15 93.18 28.24 28.26 1360.30 1361.20 1362.10 1360.30 1361.20 1361.20 37741.00 37750.00 37764.00 37714.00 37723.00 43989.00 43989.00 38834.00 38777.00 38791.00 38806.00 38820.00 44626.00 44561.00 44577.00 44593.00 44609.00 3354.00 3353.00 5125.00 86.18 85.34

Traded Volume in lots 138 61 26 254 1,756 1,918 1,972 38 13 1 28 12 2 11 -

Previous Settlement Price 91.39 92.42 93.45 28.54 28.56 1364.70 1365.50 1366.40 1364.70 1365.50 1366.40 37836.00 37845.00 37858.00 37808.00 37817.00 44099.00 44099.00 38929.00 38872.00 38887.00 38901.00 38915.00 44737.00 44672.00 44688.00 44705.00 44721.00 3367.00 3364.00 5186.00 86.16 85.33

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 91.14 106 92.15 34 93.18 14 28.24 113 28.26 1360.30 1,456 1361.20 3,009 1362.10 2,444 1360.30 20 1361.20 1362.10 37741.00 30 37750.00 20 37764.00 1 37714.00 2 37723.00 43989.00 43989.00 38834.00 38777.00 38791.00 38806.00 38820.00 44626.00 1 44561.00 34 44577.00 12 44593.00 8 44609.00 9 3354.00 3353.00 5125.00 86.18 85.34 -


Loew ,German national soccer coach addresses media after meeting with first division Bundesliga’s coaches in Neu-Isenburg

10

Tuesday, January 18, 2011

Slow starter Venus into round two

Misbah misses out on the century

MELBOURNE: Fifth seed Venus Williams overcame a sluggish start to defeat Italy's Sara Errani 6-3, 6-2 in the first round of the Australian Open on Monday. Williams, the United States' best hope in the absence of sister Serena, the reigning champion, dropped her first service game to Errani but gradually recovered to overpower the Italian in 90 minutes. The American has not played a tournament since the US Open and prepared for the Australian Open with an exhibition in Hong Kong, but she said she was unconcerned with her lack of preparation. "It's only just a matter of believing that I can come out and play well even though I haven't played as much as my opponents," she said later.Agencies

Sania crashes out of Aus Open MELBOURNE: India's Sania Mirza took a set off former World No.1 and winner of seven Grand Slam titles Justine Henin of Belgium before losing 7-5, 3-6, 1-6 in the Australian Open women's singles first round on Monday. Henin, who won the tournament in 2004 and finished runner-up in 2006 and 2010, needed all her legendary fighting qualities to subdue an inspired Sania in 2hr 12mins. The 28-year-old Belgian looked on track for a straightforward win when she served for the first set at 5-4, only to stumble and allow Sania to come back and win the next three games to clinch a pulsating opener in 60 minutes. Seven-time major-winner Henin came out firing at the start of the second, breaking Sania immediately and opening a 2-0 lead. Sania broke back to level the set, but Henin came again, breaking the Indian's serve twice more to wrap up the second set and get the match back on terms. An increasingly confident Henin stormed away with the third set to take the match and move into a second round clash against British hope Elena Baltacha. Sania will be pleased with her efforts against Henin following a career marred by a persistent right wrist injury.Reuters

Pakistan cricket WC squad to be named today ISLAMABAD: Final Pakistan Cricket Team squad for World Cup will be announced on Wednesday. Chief Selector Mohsin Hassan Khan will announce the final players name for World Cup. According to media reports, Shahid Afridi is expected to be the captain of Pakistani team. Middle Order Batsman Muhammad Yousuf and Wicket- keeper Batsman Kamran Akmal will also be included in World Cup 15 members Squad. It is pertinent to mention here that, Chairman Pakistan Cricket Board (PCB) had said that only those players would be part of the World Cup squad who are cleared from spot fixing cases.Online

WELLINGTON: New Zealand's Guptill watches as Pakistan's Ali fields the ball during the first innings on day three of their second test cricket match.-Reuters

Indians put injured quartet in WC squad MUMBAI: India will gamble on the fitness of Sachin Tendulkar, Virender Sehwag, Gautam Gambhir and Praveen Kumar after the four injured players were included in the final 15-member squad on Monday for next month's World Cup. Regular openers Sehwag and Gambhir and paceman Kumar missed the current five-match one-day international series against South Africa through injury while Tendulkar hurt his hamstring in Saturday's second match and returned home. "Injuries are part of cricket... they are part of life. Every team has got injury concerns," Krishnamachari Srikkanth, chairman of the selection committee, told reporters after announcing the team in

Chennai. As for the bowling attack, the selectors included four pacemen and three spinners for the Feb. 19-April 2 tournament being co-hosted by India, Sri Lanka and Bangladesh. Experienced seamer Zaheer Khan will spearhead the pace attack with support from Kumar, Munaf Patel and Ashish Nehra, while Harbhajan Singh leads the spin department, backed up by Ravichandran Ashwin and Piyush Chawla. Chawla, 22, who bowls legbreak, has played 21 ODIs for India but the last time he featured in the 50-over format was in July, 2008, in the Asia Cup against Pakistan. Middle-order batsman Rohit Sharma missed out on a spot as

the selectors opted instead to include a third spin bowler due to the slow nature of the pitches in the sub-continent. "I think we have selected a very well-balanced team. Don't forget that when you play in India, the spinners probably play a major role," Srikkanth said, when asked about their decision to pick three specialist spinners in the squad. Squad: Mahendra Singh Dhoni (captain), Virender Sehwag (vice-captain), Sachin Tendulkar, Gautam Gambhir, Virat Kohli, Yuvraj Singh, Suresh Raina, Yusuf Pathan, Harbhajan Singh, Ravichandran Ashwin, Piyush Chawla, Zaheer Khan, Praveen Kumar, Munaf Patel, Ashish Nehra.-Reuters

SA’s Donald to join NZ as bowling consultant JOHANNESBURG: Former South Africa fast bowler Allan Donald has accepted a temporary position as bowling consultant to the New Zealand national team under recently appointed head coach John Wright. Donald has accepted an offer to work with the Black Caps with immediate effect having been released from his contract in Zimbabwe, where he was head coach of the champion domestic franchise, the Mountaineers.

"I'm extremely grateful to Zimbabwe Cricket (ZC) and the Mountaineers for agreeing to release me and I'm equally excited about the possibility of joining New Zealand Cricket on a more permanent basis," Donald told Reuters on Monday. "Even though I was only in Zimbabwe for three months I thoroughly enjoyed my time there and learned a lot about being head coach," he added. "Zimbabwe Cricket is

Breakup bore hard on game: Ana Monitoring Desk ADELAIDE: Tennis ace Ana Ivanovic says her break-up from longtime love, Australian golfer Adam Scott, affected her game. The glamourous player says her on-court performance suffered after the break-up in the middle of last year. During the slump, her ranking fell outside the world top 50, and she lost in the opening round of Wimbledon. "I think it's better not to mix professional life and personal life - although it is hard. If you are happy in your private life and that will affect your tennis and that will help you actually. During this time I found that's important to listen to yourself and be happy. She added: "I mean everyone wants to be happy - people find happiness in different ways. While you want to pursue your career 100 per cent I think it is very hard to give 100 per cent in something else. It's important to find this balance and priorities change throughout life..."-Reuters

WELLINGTON: New Zealand were nine without loss at the close of play on the third day of the second Test against Pakistan on Monday, after the visitors had been bowled out for 376 runs shortly before stumps at the Basin Reserve. Brendon McCullum (six) and Martin Guptill (one) safely negotiated the five overs they needed to face to ensure New Zealand entered the fourth day with a small deficit of 11 runs after the visitors were dismissed for 376. Captain Misbah-ul-haq had led from the front for Pakistan, who are seeking their first Test series victory since 2006, falling one run short of his third Test century and having shared in a 142-run partnership with Younus Khan (73). The 36-year-old skipper had been incredibly patient as he clawed his way to 99 off 206 balls, but shuffled across his stumps to try to force a Chris Martin delivery to the leg-side only to be hit in front and given out lbw. Martin, who had bowled an impressive spell between lunch and tea without reward, captured four for 91 while New Zealand captain Daniel Vettori finished with four for 100. The day was marred by a hint of controversy with Younus given out caught in

close by Jesse Ryder for 73 off Vettori on the final ball before the tea break. Television replays showed the ball had ballooned off Younus's pad, without touching his bat, to Ryder at forward short leg. It was the seventh decision in the match that could have potentially been overturned by the umpire review system, which is not in use in the series. Vettori and Martin captured three quick wickets after tea with Asad Shafiq caught at first slip off Vettori for a duck, Adnan Akmal caught by Martin off Vettori following a dreadful attempted sweep for 22, before Abdul Rehman (five) looped a catch to McCullum off Martin. Poor weather is forecast for the next two days in the Wellington region with heavy rain expected late on Tuesday. Azhar Ali (67) was the only wicket to fall before lunch when he fended a short delivery from Martin to Ross Taylor, who took the high catch and reduced the visitors to 144 for three. Pakistan lead the two-match series 1-0 after a 10-wicket victory in Hamilton. They have not won a Test series since they beat West Indies 2-0 at home in November 2006.Online

Iraq win after UAE mess-up DOHA: Reigning champions Iraq stunned the UAE 1-0 at the Asian Cup with an injurytime own-goal to put the defending champions in a strong position to make the knockout rounds. Iraq put themselves in a great spot to join their arch-rivals Iran after Walid Abbas turned the ball into his own net as the clock ticked down. “It was in injury time and an own-goal so it’s a bit lucky at the end, but we fought all the time,” said Iraq’s German

coach Wolfgang Sidka. “It was an exciting game and we had three strikers on at the end, and finally we got the reward. “We will celebrate this win and immediately start preparing for North Korea. We know we have our fate in our hands.” Srecko Katanec, the UAE’s Slovenian coach, cut a despondent figure afterwards. “We must look to win against Iran and pray Iraq lose to North Korea,” said Katenec. “We were better than Iraq, but that’s football.”-Agencies

undoubtedly heading in the right direction and I was looking forward to being a part of their return to test cricket. "But the opportunity to return to international cricket was irresistible and to work with somebody of the stature of John Wright is something which doesn't come along every day and I can't wait to get started," Donald said. New Zealand currently trail Pakistan 1-0 in a two-test home series.-Reuters

HBL lifts Quaid’s Trophy after 32yrs KARACHI: Opener Aftab Alam smashed a spectacular chanceless hundred to power Habib Bank Ltd (HBL) to title winning show in the historic day/night 5-day final of Quaide-Azam Cricket Trophy Division-I match when they defeated Pakistan International Airlines (PIA) by five wickets at National Stadium here on Monday. Little known 26-year-old from Peshawar, Aftab showed great endurance, technique and temperament under pressure in his showpiece 106 to help the banker's to regain the premier first class event after 33 years.

HBL last won the title in 197778 season. Fighting Aftab struck 14 sweetly -timed boundaries in his elegant century after facing 230 balls in his marathon 383 minutes stay the crease. It was a great comeback by Aftab after he was dismissed for 14-ball duck in the first outing. PIA made 228 in the first innings and 319 in the second. HBL made 313 in the first innings and set 235 to the match, they reached the target an hour after lunch break. This was first time that a first class match spread over five day was a day/night encounter

played with an orange ball for the first time in the world. Diminutive Aftab shared a valuable match winning 88 runs for the fourth wicket stand with Fahad Mashood, who run out suicidal run out after a making a fighting 42 in 89 balls in 153 minutes with three boundaries. HBL Captain Hasan Raza made a defiant unbeaten 54 after struggling against Anwar Ali and Aizaz Bin Ilyas's bouncers. Former Test batsman Hasan Raza banged eight boundaries in his 54 off 54 balls in 98 minutes to steer bankers to historic winning performance. APP

MELBOURNE: Sania Mirza of India gestures during her women's singles match against Justine Henin of Belgium on the first day of the Australian Open tennis tournament.-Reuters


Euro zone finmins to discuss rescue fund changes BRUSSELS: Euro zone finance ministers on Monday will discuss an increase in the effective lending capacity of the euro zone rescue fund, but France said it would be March before a firm plan was in place. Growing realisation that a deal on the bailout fund was not imminent helped the euro fall broadly on Monday, retreating from a one-month high reached after successful debt auctions by Portugal and Spain last week. Dealers said further gains in the currency may depend on the outcome of the talks in Brussels, which are aimed at drawing a line under the sovereign debt crisis before more countries need help. "The ministers will talk tonight about how to increase the effective capacity of the EFSF close to 440 billion, but no final decision is likely," one euro zone source said on Monday. The European Commission and the European Central Bank called last week for the region to boost the effective capacity of the rescue fund -- the European Financial Stability Facility -- as well as expanding its scope of operations. ECB President Jean-Claude Trichet reiterated the central bank' view on the eve of the meeting in Brussels. "This fund, taken as it stands at the moment we speak, needs to be enhanced, qualitatively and quantitatively," he said on a French talk show. [ID:nLDE70F0I2] By qualitative enhancement the ECB most likely means taking over the purchases of government bonds on the secondary market, now done by the central bank, ECB Governing Council member Athanasios Orphanides indicated. If the EFSF "were to buy government bonds, and that improved the functioning of the monetary policy transmission mechanism, that might render some of the ECB's nonstandard measures no longer

necessary," Orphanides told Bloomberg in an interview. The fund can borrow money on markets with euro zone government guarantees of up to 440 billion euros. But because it wants to have a triple A credit rating, the effective amount it can lend to countries in need is only around 250 billion. A potential bid for help from Portugal and Spain would stretch its resources to the limit. Germany, the biggest euro zone economy, is key to any agreement on changes. France appeared open to talks on an increase in the fund's lending capacity. "It needs to be replaced and reinforced. We have started talks...and agree on the big principles, we are looking at how it could be applied," French Economy Minister Christine Lagarde told French radio on Monday. Facing a volatile market as it looks for ways to keep its debt costs under control, Spain's Treasury cancelled a bond auction planned for Thursday and said it would issue a syndicated bond over 10 years. Belgium is also seeking an opportunity to place debt with a syndicate of banks and Portugal also plans one for the first quarter, as fiscally stretched sovereign issuers elsewhere in Europe also seek to cut spiralling financing costs. Risks premiums on Spanish and Portuguese debt widened and one analyst said Spain's announcement could add a new layer of uncertainty to an already tense debt market. Still, senior European sources told Reuters that Berlin's sense of urgency for boosting the fund had diminished after successful bond auctions last week in Spain and Portugal, the two countries seen most at risk of following Greece and Ireland in seeking a financial bailout. Instead, Germany is pushing for broader anti-crisis measures to be agreed at a summit

of European Union leaders in March and Lagarde expressed similar views on Monday. "We can't have a little hike here and some flexibility there, a reinforcement of discipline. We will need a complete package and I hope that we will submit one in March," she said. "We are working in concert with Germany and I am working in tight collaboration with Finance Minister Wolfgang Schaeuble," she said. "I think, like him, that there is no point in making announcements bit by bit." Schaeuble has indicated he was open to discussions on raising the effective lending capacity of the EFSF, but has also made clear he would not support an increase in the overall amount of the fund above the current 440 billion. A euro zone source said the key problem for the increase of the effective lending capacity to the full 440 billion for Germany was how to achieve that without raising the amount of government guarantees -- a politically risky move. "The rules agreed on remain in force and whoever wants to change them ... has to get the laws changed by the German Bundestag -- just as with the other national parliaments. This should be considered more often by those in charge in Brussels," Schaeuble told German radio. Among the contentious issues, officials say, are France's wish to let the EFSF buy the bonds of vulnerable euro members which Germany does not want, and Berlin's insistence that other members of the currency bloc be forced to introduce legislation similar to the "debt brake" rule it adopted in 2009. Germany is also against lowering the punitive interest rate the EFSF charges states for its loans, a step other euro zone members believe is necessary to allow struggling economies in the bloc to reduce their debt mountains.-Reuters

OPEC holds line on output as oil rally alarms West ABU DHABI: OPEC signalled on Monday it would not boost oil output even as prices approached $100 per barrel and as the group forecast higher global demand for its oil in 2011. The reluctance of the Organization of the Petroleum Exporting Countries to add supplies is of growing concern for consumer countries worried about the impact of rising commodity costs on inflation and economic recovery. On Monday the United Arab Emirates' oil minister said he was not concerned by rising prices, echoing comments by OPEC producers Iran and Venezuela this week. Algeria's oil minister also said the oil market was balanced. "There is no shortage of oil, the market is well supplied. We're monitoring the market very closely," UAE minister Mohammed bin Dhaen alHamli said at an energy forum in Abu Dhabi. Brent crude oil was trading near $98 a barrel on Monday, within sight of a 27-month high. US crude was trading around $91 a barrel. The head of the International Energy Agency, an adviser to 28 industrialised countries, described the current oil price as "alarming" and warned it could be damaging. "We are concerned about the speed of the rising oil price, which can harm the growth of economies," Nobuo Tanaka, executive director of the agency, told reporters on the sidelines of the same forum as Hamli. "If the current price continues, it will have a negative impact." The OPEC comments will leave consumer countries wondering whether Saudi Arabia is prepared to take action to prevent prices escalating further. Saudi Arabia, Kuwait and the UAE hold most of OPEC's unused production capacity.-Reuters

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Thus HBL would attempt to have the service available at the doorstep. The life of the pilgrim will be covered through family takaful coverage from Pak-Qatar Family Takaful free of cost. The cost of Takaful will be borne by HBL. At the time of opening of this particular account the pilgrim can nominate a relative to perform Hajj-e-Badal or Umra in case of need. Citing an example the HBL sources said if a pilgrim has selected a saving plan of three lac rupees for over 3 years and in case of pilgrim's death during the plan, any short fall between the target amount and savings will be paid by takaful operating company and the nominee will perform Hajj or Umra in his place. The deposits would be HBL Islamic banking account, BBA account Al-Mukhtar Account, AlIrtifa , Al-Samarat account and Al-Ziarat account while the assets are titled as HBL Murabaha, Diminishing Musharaka, Ijara and Istisna, HBL Salam and HBL IERF to be offered shortly. Thus HBL would attempt to have the service available at the doorstep. The life of the pilgrim will be covered through family takaful coverage from Pak-Qatar Family Takaful free of cost. The cost of Takaful will be borne by HBL. At the time of opening of this particular account the pilgrim can nominate a relative to perform Hajj-e-Badal or Umra in case of need. Citing an example the HBL sources said if a pilgrim has selected a saving plan of three lac rupees for over 3 years and in case of pilgrim's death during the plan, any short fall between the target amount and savings will be paid by takaful operating company and the nominee will perform Hajj or Umra in his place. The deposits would be HBL Islamic banking account, BBA account Al-Mukhtar Account, Al-Irtifa , Al-Samarat account and Al-Ziarat account while the assets are titled as HBL Murabaha, Diminishing Musharaka, Ijara and Istisna, HBL Salam and HBL IERF to be offered shortly.

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international issues. President Zardari during the meeting thanked the UAE government for their generous assistance during the recent devastating floods. He said his country is thankful to UAE rulers and people of Emirates on their generous assistance for early rehabilitation of IDPs in Swat and Malakand. He underlined the need that Abu Dhabi Fund should provide the pledged $270 million for the Citizen Damage Compensation Programme. The President emphasized upon further enhancing of bilateral relations and extending mutual cooperation in the realm of trade, education, labour and manpower. -Agencies

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ethanol. There are other seeds that can be used for clean biofuels that need no fresh water. There are other non-food crops that grow in abundance in poor soil without fertilisation that are excellent sources of potential fuels. Our job, President Zardari said is not to dwell about things that did not work in the past but rather to find things that do work for the future. "We do not have the time to mourn. It is time to innovate." "In workshops, laboratories and research stations all over the world, the human mind is reaching a stage of development where solutions to the prohibitive costs of renewable energy are being found every day." he said. "If sunbeams were weapons of war, we would have had solar energy centuries ago," he said. With higher prices and growing scarcity of fossil fuel, solar power is finally emerging as a viable and efficient source of energy; President said adding the largest solar project in the world is being undertaken

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International & Continuation

Tuesday, January 18, 2011

here in Abu Dhabi. Innovations and improvements in the panels could well make solar energy a major contributor to local transmission systems and the main driver of hybrid cars, small machines and instruments in the very near future. The President hoped wind may hold the key to energy independence and environmental renewal in the provinces of Sindh and Balochistan. Solar energy, wave and wind power, bio-diesel and fertilisers from weeds, and oil seeds grown in seawater are all keys to freeing the world from fossil fuel dependence and fatal global climate change. These new technologies may require capital investment, but the price of action pales by comparison to the incalculable cost of inaction. "If we can't act boldly for ourselves, at least can we act boldly for our children and grandchildren and generations yet unborn." About the challenges Pakistan was facing, the President said his country has 180 million people. "Our demographics are the driving force of our needs," he said and added "Pakistan's economy needs to grow at an annual rate of 8 per cent just to guarantee that our people are able to sustain their current standard of living."-Agencies

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Pervez Ashraf, Minister for Water and Power, Dr Zaheeruddin Babar Awan, Minister for Law, Justice and Parliamentary Affairs, Syed Naveed Qamar, Minister for Petroleum and Natural Resources and Mian Raza Rabbani, Advisor to the Prime Minister. Furthermore, Finance Minister Dr Abdul Hafeez Sheikh said that recent floods had impinged on government's efforts to stabilise the national economy, however he added that due to govt efforts the economy would be back on track soon. He expressed these views during his meeting with the prominent members of Pakistan community during a dinner hosted by Pakistan's Ambassador to Kuwait Iftekhar Aziz at his residence.-Agencies

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laws pertaining to manufacturing, distribution and use of weapons in the country. He also proposed constitution of a parliamentary committee to suggest measures for improvement in police system, community policing and police reforms to achieve the objectives of deweaponisation. Sattar said it is premature to say whether the foreign elements are involved in unrest in Karachi. He suggested that all political parties should sit together to find out measures for permanent and lasting peace in Karachi. -APP

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APP here Monday. Ghauri said that it is the policy of the government that people especially the poor should get relief in the prices of commodities including the edible items and on cheaper rates as compared to markets rates eliminating the middle man role in this regard. The USC is directly purchasing the products from the manufacturers and pass on the price relief to the masses, he remarked. He added that it is always the effort of the USC to get the items from the producers on subsidize rates and pass on the relief to the people in terms of prices and quality. Replying to a question, he said that sometimes the prices at the USC increases and decreases and are directly linked to the prices its gets from the manufactures. "If we get the commodities on cheaper rates we sell them on discount rates to the customers and sometimes the manufactures increase the prices of their items and we get them on higher rates and increase their prices at our outlets also", he remarked. Replying to a question, he, said that the prices of Ghee and edible oil has been increased at the outlets of the USC and attributed the increase to the rise in the prices of edible oil from

BOJ head - markets calm despite Europe debt woes TOKYO: Bank of Japan Governor Masaaki Shirakawa said global financial markets are maintaining calm on the whole despite some instability in Europe over the region's sovereign risks. The global economy has experienced a slowdown but continues to improve, with solid growth in emerging nations likely to help Japan's economy resume a moderate pickup, Shirakawa said on Monday. "Japan's economy is showing signs of a moderate recovery but growth seems to be pausing," he said in a speech at a quarterly meeting of the BOJ's branch managers. "After a pause in improvement, Japan's economy is seen returning to a moderate recovery path," he said, sticking to the central bank's current economic assessment. Debt woes in peripheral European nations have reemerged as a major topic in financial markets, although successful securities auctions by indebted euro-zone members last week calmed fears of a credit crisis in the region. Japanese policymakers remain on alert for any market instability that could hurt the country's economy, which is now at a standstill with any rebound from an expected contraction in the final quarter of

last year seen modest. Analysts say Japan will avoid a double-dip recession with exports picking up on firm demand in emerging Asia and automakers increasing production. But the outlook is hardly promising. Consumer confidence worsened in December for the sixth straight month, marking the longest streak of deterioration on record, a government survey showed. The BOJ cut its assessment for seven out of nine regional economies in a quarterly report issued after the branch managers' meeting, citing weaknesses in exports and factory output. The Tokai region in central Japan, home to auto giant Toyota Motor Corp, and western Japan's Kinki area, where some big electronic makers are based, were among the regions that saw their assessment revised down. "There are many regions that say conditions are gradually recovering or picking up ... but an increasing number of them are pointing out that the improvement is pausing," the regional economic report said. Still, a senior BOJ official told reporters he expects Japan's economy to pull out of a lull in the not so distant future as dam-

age from the export slowdown on domestic demand has been limited. "We appear to be seeing a glimmer of light on the horizon," said Hideo Hayakawa, head of the BOJ's Osaka branch in western Japan and who was previously the central bank's top economist. At its next rate review on Jan. 24-25, the BOJ is expected to make minor tweaks to its growth forecasts but will stick to its view that the economy will resume a moderate recovery later this year, according to sources familiar with the BOJ's thinking. Shirakawa, as expected, gave few clues on the outlook for monetary policy, only saying the BOJ will conduct monetary policy appropriately by carefully examining economic and price developments. The BOJ last year cut interest rates effectively to zero and set up a 5 trillion yen ($60 billion) pool of funds to buy assets ranging from government bonds to private debt, aiming to support a fragile economy and pull Japan out of deflation. BOJ officials have said easing monetary policy further by topping up the asset buying plan is a clear option if the looming economic slowdown proves worse than expected.Reuters

US $ 1290 per ton impacting the prices of the commodity at the local markets.-APP

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commerce on December 30 suspended its earlier notification announced on December 8, which said that cars not older than five years could be imported under the Personal Baggage, Gift and Transfer of Residence Scheme. Apparently the import of used cars was not liked by the car manufacturers who claimed that the decision would result in less production.The official of the ministry of commerce was of the view that car manufactures of the country have actually resorted to monopoly and were involved in increasing car prices at their own adding that 'the value of a car is even less than to its worth.'However, he was of the view that the issue of monopoly should have been addressed by the Competition Commission of Pakistan (CCP) which is the competent authority to check anti-competitive business behavior in the country. "The CCP should have looked into the case and check for malaface cartelization which could have helped reduce car prices in the country," he remarked.-APP

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were in the field out of which advance payments of $14.78 were made to nine companies. Out of these total nine companies, four had returned the payments including Messers Young Gena and Walters International who had returned Rs1.26 billion and Rs2.5 billion respectively. -Agencies

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influencing the case by giving advertisements, which he added, comes in the sphere of contempt of court. After that the Chief Justice said the court has to give the verdict and could not be influenced in this way. The court issued show cause notices to the company and asked it to submit reply by Wednesday. The court advised all the parties to submit replies by Wednesday and adjourned the hearing till January 25. -Agencies

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(EPS: Rs7.89). Sales revenue of the three listed companies is expected to improve to Rs127.25 billion from Rs106.1 billion in 1HFY10 - a growth of 19.94 per cent over the same period last year. Volumetric sales show growth of 1.6 per cent stood at 769 thousand barrels of oil equivalent per day (kbpeod) during 1HFY11 against 757 kbpeod in 1HFY11 mainly driven by Tal and Nashpa block. Gas production with a growth of 1.7 per cent rose to 4 billion cubic feet per day (bcfd) versus 3.95 bcfd in the same period last year. Similarly, oil production increased by 1.2 per cent to 65.2 kbpd against 64.4 kbpd during the same period last year. Operating profit is likely to hike by 21.8 per cent to Rs87.37 billion versus Rs71.74 billion in 1HFY10. Other income likely to rise by 21.35 per cent to Rs3.99 billion against Rs3.29 billon in 1HFY10, similarly net margin surged from 39.2 per cent to 43.3 per cent.

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IT University would be set up in Dera Ghazi Khan, he said adding, "I say during our tenure this area will not lag behind any other area in terms of development. New campus of Allama Iqbal University would be set up in Bahawalpur, he announced, if people remained deprived of education then how the menace of terrorism would be wiped out, he added.-Online

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Therefore, the Committee did not proceed thereupon further. During the meeting the PML(N), MNA Anusha Rehman Advocate expressed her concern over not including accountability bill in the agenda and said that 18 months had gone but the committee has yet not approved this bill. -APP

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He reiterated the economic agenda given by us is the agenda of whole nation, which will lead poor segments of the nation towards prosperity and win their rights. Nawaz Sharif demanded from government to kick out the suspects involved in different scandals. He also demanded to bring the assassins of Benazir Bhutto in front of court. Meanwhile, PML-N would hold an important meeting today (Tuesday) regarding 10-point agenda which has been given to government for solving national issues.-Agencies

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problems lingering in the background. Miners remained hamstrung by concerns over demand from China after the world's biggest consumer of raw materials announced it was raising banks' required reserves by another 50 basis points on Friday, a further sign of monetary policy tightening. ARM Holdings fell 3 per cent, with traders citing concerns surrounding customer Apple's Chief Executive Steve Jobs. He is taking medical leave two years after a six-month break for a liver transplant. Autonomy shed 5.1 per cent, the worst performing FTSE 100 stock, after Standard and Poor's equity research said a lack of a positive pre-announcement does not bode well for the British software firm's Q4 results. Engineer Weir Group shed 2.8 per cent, with traders citing talk of a potential bid for Swiss rival Sulzer.-Reuters

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MediaWorks and Reliance Broadcast Network closed down between 4.8 per cent and 8.5 per cent. Late Friday, the Securities and Exchange Board of India said Reliance Natural Resources, which has been merged into Reliance Power, and Reliance Infrastructure shall not make investments in secondary market listed securities until December 2012 under a settlement reached with the regulator. -Reuters

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target investors are eyeing is 10,638.23, a high hit in May last year. The broader Topix index shed 0.2 per cent to 928.73. Investors took profits on sectors outperforming a recent rally in the Nikkei, such as banks, which have surged 23 per cent over the last 10 weeks, as foreign funds aggressively added laggard financial shares.Mizuho Financial Group dropped 0.6 per cent to 168 yen.-Reuters

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notices on which the standing committee could achieve no consensus.Chairperson standing committee Begum Naseem Akhtar Chaudhry said that she is willing to call the meeting and do not wish to prolong it , if the committee members agree whenever they want a meeting can be called but no one is serious on the issue, says the chairperson. It was decided in the meeting that next session of NA which is scheduled for Jan 24, accountability bill will be addressed as well by the standing committee.

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Musharraf declined to name likely coalition partners, saying he aimed to create a national party. But he said of the MQM: "They are a good party and I have no differences with them." He said he had met with MQM leaders, including Hussain, while many PML-Q politicians were in contact with him.Asked if he expected support from the army, he said that the military were not supposed to become involved in politics.-Reuters


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NA body rejects regional languages bill

DERA GHAZI KHAN: Prime Minister Syed Yousuf Raza Gilani standing in the respect of national anthem during inauguration ceremony of Regional Campuses of Allama Iqbal Open University and Bahauddin Zakariya University. -APP

Court bails out Shahzain QUETTA: The Balochistan High Court (BHC) Monday granted bail to Shahzain Bugti and his aides who were arrested last month. According to a private television channel, the court ordered to release of each on Rs five lac bail amount. A single bench of the Balochistan High Court comprising Justice Noor Muhammad Miskanzai had reserved on Thursday its judgment on the bail application of Shahzain Bugti, provincial president of the Jamhoori Watan Party. Shahzain and 26 others were arrested by the Frontier Corps last month allegedly possessing huge quantity of weapons. -NNI

Shell CEO calls on Qamar ISLAMABAD: Federal Minister of Petroleum and Natural Resources Syed Naveed Qamar met the Chief Financial Officer Shell Royal Dutch Group, Simon Henry who called on him as part of his visit to Pakistan and the AsiaPacific region. Syed Naveed Qamar while talking to Simon Henry appreciated the role of Shell Pakistan Limited, which has since long been operating as an important oil marketing company in the country. The Petroleum Minister said the country was opting for a multi-pronged strategy including energy from various sources to meet its escalating energy demands. However in view of the current energy scenario of the country, Liquefied Natural Gas (L.N.G.) was one of the viable options that appeared inevitable for fulfilling the energy need of Pakistan, he added. Simon Henry expressed his company's interest in the natural gas import business in Pakistan and viewed the world market as presenting a window of opportunity which Pakistan could avail of to meet its energy shortfall. Syed Naveed Qamar also praised Shell's contribution for flood relief efforts in the country that would also go toward developing new schools in flood affected areas and distributing thousands of books to children who were unable to go to school due to the floods. Agencies

‘N’ asks govt to take notice of Karachi situation

Sharif says its time to end party politics PML-N agenda implementation committee meets today BADIN: The PML-N chief Main Nawaz Sharif said we will not allow anyone to disturb country's peace, adding nor we will allow ambush of public mandate at any cost. He was addressing to a gathering in Badin after condoling with PML-N leader Ismail Rahu on the death of his father Fazil Rahu on Monday. He said all provinces and parts are our own and we won't let anyone to dismantle its peace. He said we know who are dismantling the peace of Karachi and who are involved in target killing. He said time has come to leave party politics and talk about

Pakistan. Government must expose the faces of these culprits, said Nawaz Sharif, adding kidnapping for ransom is abutting the heights in rural Sindh. He said PML-N during its regime eliminated the rule of dacoity. He said Ismail Rahu always helped the farmers, distributed lands among them and now they are thriving as they own lands. He said Pakistan is not the property of several affluents, rather 1.7 million Pakistanis own it. "Politics for someone's own interests is sinful, but the politics PML-N practices is merely

for the sake of deprived nation", Nawaz Sharif said. He told the gathering PML-N will complete its agenda after coming into power. While commenting on the voices of revolution, he said revolution of PML-N is the name of a journey towards prosperity and it is not the name of retrieving dead bodies, rather it is the name of distributing books among children. It is not in our agenda to distribute rifles, he added. He further said no-go-area exists in Pakistan and people involved in Karachi killing should be held accountable. See # 13 Page 11

ISLAMABAD: The Standing Committee on Law, Justice and Parliamentary Affairs Monday unanimously rejected Constitutional Amendment Bill, 2008 to give regional languages status of national languages. A meeting of the standing committee was held in Parliament House, under the chairpersonship of Begum Nasim Akhtar Chaudhry. The Constitutional Amendment Bill, 2008 to give regional languages status of national languages moved by Marvi Memon was unanimously rejected by the committee. For the Pakistan Penal Code Amendment Bill, 2008 moved by Dr Donya Aziz, the committee, after discussion, constituted a subcommittee under the chair of Justice (Retd) Fakharun-Nisa Khokhar to consider the various aspects of the Bill and present it before the committee within three weeks. The Committee discussed Private members Bills i.e. The Family Courts (Amendment) Bill, 2008, the Constitution (Amendment) Bill, 2008, the Code of Civil Procedure (Amendment) Bill, 2008 (Section 9), the Constitution (Amendment) Bill, 2008 (Article 251), the Public Complaints (Speedy Redressal of Grievance) Bill, 2008, the Pakistan Penal Code (Amendment) Bill, 2008 (Section 284A) and the Constitution (Amendment) Bill, 2009 (Article 70, 71, 135, 141 etc). The Committee was apprised that after 18th Amendment, the subject matter of The Family Courts (Amendment) Bill, 2008 and The Code of Civil Procedure (Amendment) Bill, 2008 became the provincial subject. See # 12 Page 11

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No change to be made in blasphemy law: Gilani

Government tightening its grip on issues: PM DERA GHAZI KHAN: Prime Minister Syed Yousuf Raza Gilani has said government is very sincere in blasphemy law adding no change will be made in this law nor the government has ever thought about any change in the law. "If we don't honor blasphemy law then who will do it, we will not introduce any amendment in the constitution or law nor have we constituted any committee." "We are sincere in blasphemy law. We will neither amend any constitution nor bring any change in this law. We have never ever thought to do so. However I will say if there is any law it should not be misused", Prime Minister said this while addressing the inauguration ceremonies of regional offices of Allama Iqbal Open University and Bahauddin Zakariya University here Monday. Those who were criticising should not waste their time and join hands with the government as we were facing challenges of terrorism, poverty and unem-

ployment, he stressed. "We should fortify institutions, media and democracy. Politics of reconciliation being pursued by us should not be considered our weakness, he underlined. "We gave 18th and 18th amendment to the country and got NFC award approved with consensus. We will take forward the mission of Benazir Bhutto so that no one could raise any finger that this area was breeding terrorists. People of this area are not terrorists. They are patriotic and they have rendered unprecedented sacrifices for the sake of democracy, he underscored. Dera Ghazi Khan was backward area in Punjab, he said adding the government had started taking practical steps to end the backwardness. Appointment of Sardar Latif Khan Khosa as governor Punjab bore clear testimony of it, he held. Now this area would remain no more backward, he maintained. See # 11 Page 11

DPO says gas cylinder may have exploded

Eighteen dead in Hangu bus blast KOHAT: At least 18 passengers have killed and several got injured in bomb blast in a passenger coach here on Hangu road, Kohat on Monday morning. According to police, a bomb blast occurred in a passenger coach coming from Hangu to Kohat killing 18 people and injuring several passengers. Soon after the incident the rescue teams rushed to the site and shifted the injured to District Headquarter hospital. There were conflicting reports of whether the blast was caused by a bomb or by the gas cylinder used to power the vehicle. According to eyewitnesses the blast

occurred inside the coach. The DPO Hangu Abdul Rasheed Khan has confirmed 16 deaths. He said that at the time of blast another bus was also passing through and the passengers of that bus were also injured. He said that injured include both men and women. DPO said that there is a possibility that the blast occurred due to gas cylinder explosion as one of the coaches was carrying gas cylinders but the true fact would be ascertained after complete investigations. Meanwhile, IG Kohat has confirmed 18 deaths and said that the aspect of terrorism cannot be ruled out. -Online

Accountability bill put on hold till 24th ISLAMABAD: It has been decided in the National Assembly (NA) standing committee for law and justice that this session will again be called on Jan 24 for the consensus on accountability bill. As per details on Monday Begum Naseem Akhtar Chaudhry presided over the meeting of the Standing Committee for Law and Justice. Members National Assembly Marvi Memon, Justice (Retd) Fakhar-un Nisa Khokhar, Donia

Aziz, SA Iqbal Qadri, Abdul Ghafoor Chaudhry, Saira Afzal Tarar, Anusha Rehman and Ijaz Wardag along with other senior ministers attended the meeting. As soon as the session commenced PML-N members protested that it has been 18 months and the standing committee has not passed the accountability bill. PML-N submitted four dissenting See # 17 Page 11

Blasphemy law set in stone, says Musharraf Says killer of Taseer must be punished; MQM a good party LONDON: Former president Pervez Musharraf said Sunday that blasphemy laws could not be changed, but that the man who killed the Governor Punjab over his opposition to them must be punished. Musharraf, who is planning to return to Pakistan to fight elections due by 2013, also said he was open to any coalition partners who wanted to join him, and described the MQM as "a good party" with whom he had no differences of opinion. He said blasphemy was an extremely sensitive issue for the people of Pakistan. "Therefore doing

away with the blasphemy law is not at all possible and must not be done," he told Reuters. Musharraf said that, rather than amend the laws government needed to find ways to make sure they were not misused. He also condemned the killing and said it was wrong for anyone to take the law into his own hands. "Therefore the killer of the governor, he is a culprit, he is a criminal, he must be tried and he must be punished," he said in an interview at his London home. The former military ruler, who could be risking assassination or

legal cases if he went home, said he would build up support for his party first. "Obviously I wouldn't be able to pack a suitcase and buy a ticket and reach Islamabad." "Therefore, while I have decided that I must be there well before the next elections, whether they are midterm or end-term, the exact date will have to be according to the environment we are able to create." He said many people had met him or talked over the phone, and that "anyone who wants to join into a coalition is welcome". See # 18 Page 11

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The Financial Daily-Epaper-18-01-2011