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International Karachi, Tuesday, October 26, 2010, Zul-Qa’dah 17, Price Rs12 Pages 12

Democracy hinges on House supremacy: PM

Pak, UK put heads together on issues

See on Page 12

BP sells stakes in four oilfields

See on Page 12

Nato blitz mows down 15 Taliban

See on Page 12

See on Page 12

FY10 Annual Report shows economy improved

Economic Indicators $17.10bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 170.88mn

Forex Reserves (15-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Sep 10) LSM Growth (Aug 10)

GDP Growth FY10E Per Capita Income FY10 Population

SBP lowers FY11 growth figures FY11 GDP to stay around 2-3pc; Inflation seen at 14.5pc Fiscal deficit forecasted at 5-6pc while C/A deficit at 3-4pc Staff Reporter

Portfolio Investment SCRA(U.S $ in million)

64.28 15.05 -1.98 2505

Yearly(Jul, 2010 up to 21-Oct-2010) Monthly(Oct, 2010 up to 21-Oct-2010) Daily (21-Oct-2010) Total Portfolio Invest (15 Oct-2010)

NCCPL (U.S $ in million)

FIPI (25-Oct-2010) Local Companies (25-Oct-2010) Banks / DFI (25-Oct-2010) Mutual Funds (25-Oct-2010) NBFC (25-Oct-2010) Local Investors (25-Oct-2010) Other Organization (25-Oct-2010)

-1.30 2.85 0.55 -1.14 -0.65 -0.31 0.0002

Global Indices Index Close KSE 100 10,703.71 Nikkei 225 9,401.16 Hang Seng 23,627.91 Sensex 30 20,303.12 ADX 2,833.09 SSE COMP. 3,051.42 FTSE 100 5,766.67 *Dow Jones 11,201.85 *Last Updated 20:00 PST

Change 51.23 25.55 110.37 137.26 12.08 76.38 25.30 69.29

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 2.60 111.58 21.09 181.02 2.00 42.92 1.70 36.48 9.95 34.16

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)

12.77% 13.08% 13.22% 13.50% 12.69% 12.97% 13.20% 13.61% 13.69% 13.63% 13.74% 13.80% 14.23% 14.36% 14.52%

20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010

Commodities *Crude Oil (brent)$/bbl 83.80 *Crude Oil (WTI)$/bbl 82.86 *Cotton $/lb 124.71 *Gold $/ozs 1,335.40 *Silver $/ozs 23.54 Malaysian Palm $ 986.50 GOLD (NCEL) PKR 37,098 KHI Cotton 40Kg PKR 8,574 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 84.50 Canadian $ 84.70 Danish Krone 14.90 Euro 118.70 Hong Kong $ 11.00 Japanese Yen 1.045 Saudi Riyal 22.90 Singapore $ 65.46 Swedish Korona 12.20 Swiss Franc 88.10 U.A.E Dirham 23.30 UK Pound 135.00 US $ 85.90

84.70 85.00 15.30 119.20 11.30 1.071 23.10 65.70 12.70 88.60 23.65 135.50 86.20

Inter-Bank Currency Rates Symbols

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

Buying TT Clean

Selling TT & OD

85.20 83.98 16.14 120.41 11.05 1.058 22.88 66.28 13.06 88.10 23.36 135.09 85.83

85.39 84.18 16.18 120.69 11.08 1.061 22.93 66.43 13.09 88.30 23.42 135.41 86.02

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LAHORE: Federal Minister for Law and Justice Dr Babar Awan in a delightful mood along leader of PML (Q) Chaudhry Pervaiz Elahi, during a joint press conference. -Online

Written-off loans recovery drive

SBP, banks vow to toe court line Staff Reporter KARACHI: State Bank of Pakistan Monday convened a meeting of commercial banks and development finance institutions to work out a strategy in response to the observations made by the Supreme Court regarding written-off loans. The meeting, which was chaired by SBP Governor, Shahid H Kardar, discussed at length the issues pertaining to written off loans. Presidents and Chief Executives of banks apprised the SBP Governor that banks had already issued notices to

defaulters in line with the directives of the Supreme Court. The banks' representatives informed the meeting that a write-off is undertaken after all remedies to recover have been exhausted. They said that the writes-offs are allowed by their Boards. Banks' representatives informed the meeting that a number of prominent industrialists were made to suffer jail sentences and large scale liquidations or auction sales were carried out. At the same time it was also See # 18 Page 11

MQM high-ups told to be vigilant ISLAMABAD: Intelligence Agencies Monday has warned central leadership of MQM to be vigilant and careful as in the present grave situation, they have virtually threat to their lives. According to reliable sources, interior ministry in a report sent to the MQM vibrant leadership, has warned them that after the unremitting target killings in Karachi, some of their leaders could be targeted hence Dr Farooq Sattar, Haider Abbas Rizvi, Mustafa Kamal, Faisal Sabzwari and others are See # 15 Page 11

PSO receivables growing Rs8-10bn/mth

1st Quarter FY11

PSO liquidity crisis deepens

Repatriation of profit falls 1.1pc

Ghulam Raza Rajani KARACHI: Pakistan State Oil (PSO), key supplier of furnace oil to the country, is facing severe liquidity crunch as different state-run and private entities remained incapable to clear their dues worth more than Rs146 billion, it is learnt. According to the latest figures quoted by Pepco, circular debt has reached a record level of Rs178 billion, and out of this, PSO which meet more

than 22 per cent of the energy demand in the country has to receive more than Rs146 billion. One thing which is alarming is the fact that PSO receivables are growing by an average Rs8-10 billion on a monthly basis since last few months. As per the analyst of Topline Securities, this is primarily due to the liquidity constraint with Pepco as revealed by the management in its last analyst See # 16 Page 11

Govt in revenue boost quandary KARACHI: Government's lack of credibility, both with its own citizens and donor agencies, has placed it in a double bind and hampered efforts to raise critically needed revenue. Pakistanis say the lack of clarity, transparency and accountability on where the government spends the rev-

enue encourages tax evasion. At the same time, donor and multilateral agencies are linking the release of foreign aid to Pakistan aggressively pursuing fiscal reforms to increase its tax base. "The major concern is the credibility issue," said Salman See # 13 Page 11

Ahmed Siddique KARACHI: Repatriation of profit by the foreign companies has decreased by 1.1 per cent in first quarter of the fiscal year 2011, according to the State Bank of Pakistan data on sector-wise repatriation of profits. From July to September 2010, the repatriation of profit by foreign companies in Pakistan falls to $124.9 million against $126.3 million See # 19 Page 11

Sugar-millers start crushing in Sindh ISLAMABAD: Sindh has started the sugarcane crushing, and slump in the price of sugar is expected when the new sugar arrives in market. According to industry sources, sugar is being processed in Matiari with two more sugar mills likely to set See # 14 Page 11

KARACHI: State Bank of Pakistan Monday in its Annual Report for fiscal year 2010 (FY10) showed country's macro-economy grew at a rate of 4.1 per cent compared with 1.2 per cent growth in the preceding year (FY09). While, SBP report projected GDP growth for the current fiscal year (FY11) between 2 and 3 per cent, and annual average inflation has been predicted between 13.5 to 14.5 per cent. Fiscal and current account deficits are likely to remain between 5 to 6 per cent and 3 to 4 per cent of the GDP, respectively. Workers' remittances are expected to stay between $9.5 billion and $10.5 billion. Exports and imports value is expected to be between $20$21 billion and $34-$35 billion respectively. SBP report said that the impact of the floods has strengthened the inflationary expectations for FY11; the August 2010 CPI, included a 15.6 per cent year-on-year rise in its food component. However, SBP assessments suggest that the direct impact of

Fiscal Balance (billion Ruppes) Primary Revenue Fiscal

Shares in Total Financing of Fiscal Deficit Domestic Banking

Domestic non-banks

the flood-related supply shock is likely to be limited. For example, the impact of flood damages and shortages of minor crops are not expected to

President, PM condemn explosion

Baba Farid shrine blast martyrs six Security at all shrines beefed up PAKPATTAN: At least six people, including a woman, was killed and several injured in bomb blast here at mausoleum of Baba Fariduddin Ganj Baksh on Monday. As per details, some unknown terrorists planted remote control bomb in a motorbike, which burst at gate2 of mausoleum of Baba Fariduddin Ganj Baksh at 6:30 am, killing six people and

injuring more than 25. The three deceased have been identified as Muhammad Hanif, Mubarak Boota Wapda employee and Rodaran Bibi, while injured have been identified as Zahid, Khalid Habib, Muhammad Jameel, Muhammad Sharif, Muhammad Sharif, Muhammad Rasheed, Ghulam Fatima, Shagufta Bibi, Sakina See # 9 Page 11

B'stan govt nods Gold, Copper Project

Tethyan to push B’stan mining DUBAI: A $3 billion foreign joint-venture copper and gold mining project in Balochistan will go ahead as planned, despite earlier plans by the provincial government to cancel it, an executive said on Monday. The provincial government said earlier this year it would cancel the project to ease anger in Pakistan's biggest but poor-

est province over outsiders' exploitation of its natural resources. "The project is going ahead and will not be cancelled, we are now in talks with the government and we expect production to start by the end of 2015," Gerhard Von Borries, chief executive of Tethyan Copper told Reuters on the See # 11 Page 11

External

persist beyond 2 to 3 months as supply line improves and as fresh crops (e.g., vegetables) enter the market. See # 17 Page 11

Nepra cuts tariff by 36paisa/unit ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has reduced power tariff by 36 paisa per unit in respect of all the distribution companies (Discos). The new power tariff will take effect from September. Power distribution companies had demanded that power tariff be decreased by 23 paisas per unit. According to details, power distribution companies had filed applications with Nepra about reduction in power tariff and See # 10 Page 11

Pak-US talks

’N’ submits privilege motion ISLAMABAD: PML-N on Monday has submitted a privilege motion in National Assembly Secretariat regarding recent Pak-US Strategic Dialogue. PML-N took the stance in the resolution that government did not take into confidence the See # 12 Page 11

Law Minister meets Elahi; politics is not exclusive, its inclusive: Awan

PPP offers olive branch to PML-Q LAHORE: Pakistan Peoples Party Monday offered olive branch to Pakistan Muslim League Quaid-e-Azam (PMLQ) in order to strengthen the ruling party's policy of reconciliation, media reported. Federal Minster for Law Babar Awan held one-on-one meeting with PML-Q leader and former chief minister Punjab Chaudhry Pervaiz Elahi at his residence, which according to political analysts is a bid

to get space in Punjab politics. Awan, while addressing a joint press conference with Elahi, said they just exchanged views over the current political scenario and exchanged views over challenges facing the country. He said the only way forward in the problems 'is national reconciliation'. "We realise that keeping on board all the political forces and joining hands with them is necessary for democracy and people

of Pakistan." He observed that PML-Q 'is stakeholder and participator' of the democratic system, and said 'politics is inclusive job democracy can't be stabilised without peoples participation.' Awan said Elahi and he shared same opinion on national and democratic issues. He said "Both the parties have same interests, and the PPP 'respects mandate of PML-Q'. The minister said he agreed

with the suggestions of Pervaiz Elahi and would convey it to the Prime Minister and the President. He was of the view that confrontation within political parties ultimately hits common people, and urge tolerance and harmony among the democratic parties. "It's the only way forward for people of Pakistan." Awan said he had also held meetings with leaders of various political parties which are

either inside or outside the Parliament and discussed national issues with them. "I have also met Chaudhry Shujaat Hussain few days back on a cup of tea but no camera was there," he told reports. Addressing the news briefing, the PML-Q leader said "our parties are agreed that all the political forces should sit together to resolve national issues." In politics, he said, the doors of dialogues should be

opened. Ruling PPP has decided to boost links with PML-Q after the ongoing efforts by Pakistan Muslim League (Nawaz) and other PML factions for political alliance. The high-level contacts between the two parties will likely to boost up political activities in the country ahead of local body elections which Prime Minister Syed Yousuf Raza Gilani says might be held next year. -Agencies


2

Tuesday, October 26, 2010

PTTI starts working in Khairpur

Qaim inaugurates petroleum institute SUKKUR: Sindh Chief potential field related to oil Minister Syed Qaim Ali Shah along with Sindh Minister Syed Qaim Ali & gas industries. He said that technically Minister for Technical Shah said here Monday that Sindh is gifted with abun- educated people are in Education & Chairman dant natural resources but great demand in present STEVTA Abdul Salam inaugurated therefore, Thaheem such resources are not industries Technical being properly explored STEVTA (Sindh Technical Petroleum due to lack of scientific and Education & Vocational Training Institute, comtechnical educational skills. Training Authority) has pleted at a cost of rupees millions, which He was inaugurating the been established to make 88 Petroleum Technical our youth technically able includes Hostel, Computer KARACHI: Provincial Information Advisor Sharmeela Farooqi enquiring about the health of a Instrumental Training Institute (PTTI) and capable for getting & four year old child who was burnt by relatives in Khairpur.-Online at Khairpur. He said that jobs in different industries Laboratories. The Chief Minister also people of the province has of the country. The Chief Minister said inaugurated the internal great capabilities and they after having technical that keeping the impor- road of Government training from such insti- tance of technical educa- College of Technology tutes will explore and tion in view, the Sindh Khairpur costing 15 milexploit the natural government in collabora- lions. Sindh Minister for Education resources for the socio- tion with Federal Ministry Technical economic uplift of the of Petroleum & Natural Abdul Salam Thaheem Resources would establish and Managing Director province. The Chief Minister ten similar petroleum insti- STEVTA Abdul Wahid ISLAMABAD: Islamabad Staff Reporter Uqaili also spoke on the urged the youth to pursue tutes. M Imran Sharif Leather Industry and it Chamber of Commerce and Earlier Sindh Chief occasion.-APP technical education as KARACHI: The Union of will jeopardize its working Industry (ICCI) has asked Small and Medium KARACHI: In order to resulting in loss of jobs for the Capital Development Enterprises (UNISAME) avert a big crisis of live- a large number of workers Authority to allot alternahas regretted that the min- stock and meat shortage in as well as loss of revenue tive space to the steel fabriistry of finance is not fol- the country, the Pakistan for the government from cators in the city. lowing the SME definition tanners Association (PTA) this industry. President ICCI Mehfooz as adopted in the SME has demanded of the govHe repeated his demand Elahi said that in different Policy 2007 and not recog- ernment to immediately for immediate ban on sectors and commercial nising the SMEs in terms ban export of livestock and export of animals as the areas of the city, workshops of the parameters outlined curb smuggling of goats government's Economic of steel fabricators, auto in the definition. and sheep to Iran and Coordination Committee and furniture are estabPresident Unisame Afghanistan through bor- did in case of wheat since lished that requires a big Zulfikar Thaver said it is ders. its crop has been adversely space to run the business. incumbent upon the differHe said in a meeting with The Chairman PTA, affected by the flood. ent ministries to categorize Aziz Ahmed has demandHe said that the govt. a delegation of Steel the entrepreneurs accord- ed ban on export of goats should allow more relief Fabricators Association led ing to the definition incor- and sheep since millions of instead to the exporting by its President Aslam porated in the SME Policy animals have already been leather Industry to facili- Sagir here on Monday. and facilitate the sector in killed in flood, which will tate it to realize its full He said that it was diffiletter and spirit as envis- otherwise result in severe potential and contribute cult for these businessmen aged in the policy docu- shortage of skins, which higher foreign exchange to run businesses in an area ment approved by the par- constitute raw material of earnings. of 10 x 20 feet, and they KARACHI: Khurshid Ahmed Shah, Federal Minister for Manpower & Labour liament and cabinet. have to do encroach land. giving away certificate to trainee officers of Old Age Benefits Institution(EOBI) He said the policy makHe said that CDA with the at Hamdard University. Prof Dr Nasim A Khan, Vice Chancellor HU and Zafer ers had outlined the efforts of ICCI had allotted Ahmed Gondal, Chairman EOBI are present on this occasion.-Staff Photo employment size as 250 300 to 400 plots in sector Iand paid up capital as Rs25 10/3 but now the number of millions and annual workshops have increased turnover of Rs250 millions. and he appealed to Chairman CDA, Imtiaz Inayat Elahi to give orders for the allotment of alternaStaff Reporter in the provision of tive place for the workplatelets and blood compo- shops of steel fabricators. Aslam Sagir said that 72 KARACHI: While the nents respectively. recent rise in dengue cases PWA Blood Bank which plots were allotted to the steel fabricators, where has created a havoc in the is the sole functional blood workshops are operating but blood banks all over the bank in the largest tertiary TUESDAY city, PWA Blood Bank, the health care facility of the CDA does not allow to conTime Programmes largest voluntary blood city, provides free if cost struct flats on these plots, 8:00 Chai Time (Rpt) bank run by the students of blood and blood compo- due to which workers and 9:00 News Dow Medical College is nents namely platelets, technical workforce face 9:15 Pehla Sauda providing mega units of packed cells and fresh problems of residence.-APP 10:00 News platelets to patients of frozen plasma, round the 10:15 Bazaar dengue admitted at Civil clock. 11:00 News Hospital Karachi. Pwa Blood Bank stands 11:05 Ghar Ka Kharch PWA Cell Separator and unique among other blood 12:00 News the acquirement of an banks in that it does not 12:05 Islamabad Say (Rpt) additional cryofuge in the charge a single rupee 13:00 News PWA Blood Bank, has either for cross matching 15:15 Power Lunch enhanced the efficient or screening, thus facilitat- KARACHI: 14:00 News LG working of the blood bank ing the poor patients. 15:02 Akhri Sauda Electronics (LG) 15:30 Tax Time (Rpt) announced the launch of its 16:15 Karobari Dunya new multi door refrigerator 17:05 Ghar Ka Kharch which is defined by its 18:05 Chai Time streamline design and pio19:00 News neering technology. 19:30 Mang Raha Hai Part of its Multi Door Pakistan Five Star range, the refrig20:00 News erators come in two models 20:05 Islamabad Say with unique designs and 21:00 Pakistan Aaj Raat innovative features. As part 22:00 News of its commitment to green 22:05 Doosra Pehlu technology and advance23:00 News 23:05 Kamyab (Rpt) ment into developing products that have significant energy saving capabilities, LG is the first brand to launch linear compressor technology which saves up to 40 per cent of energy, more than any other refrigerator in its class.-PR

Unisame regrets govt’s SME policy

Tanners urge ban on livestock exports

ICCI demands space for steel makers

Free platelets for dengue patients

LG launches multi-door refrigerators

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TV PROGRAMMES TUESDAY

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

KARACHI: Saifuddin Sistanwala, CEO, Kolson and JW Lee, Director Lotte Confectionery, shaking hands after the siging ceremony of the strategic alliance between the two companies.-Photo by Imran Sharif

Ras Al Khaimah Free Trade Zone conducts road-shows Staff Correspondent LAHORE: Ras Al Khaimah-Free Trade Zone (RAK-FTZ), a fastest growing free-trade zones in the Middle-East recently conducted two RoadShows in Lahore and Faisalabad, to introduce the innovative and extensive facilities being provided to the foreign investors. Both these Road-Shows were a roaring success, as trade-personnel, investors, manufacturers and corporate stakeholders from the Textile, Leather, Chemicals, Rice and several other industrial sectors attended the enlightening event, to gain insight into the prospects of establishing trade and manufacturing businesses in the RAK-FTZ. Responding to the wide range of questions and enquiries from the enthusiastic participants, Ms. Niloofar Faaliyat of RAKFTZ said; In view of the longstanding friendly relations and trade links between Pakistan and the United Arab Emirates, it is a pleasure for us to invite Pakistani entrepreneurs, to capitalize on the consistent double-digit economic growth of RAK, by establishing robust ventures for a diversity of industrial and commercial sectors. We hope that an increasing number of Pakistani businessmen will identify the potential benefits of investing in RAK-FTZ. Junaid Imam from RAKFTZ also gave a highly informative and inspirational presentation on the various aspects of the emerging economic opportunities in the UAE.


3

Tuesday, October 26, 2010

Swiss franc weakens ZURICH: The Swiss franc dropped to its lowest in nearly 11 weeks against the euro on Monday, with European bourses set for a rally thanks to an uptick in risk appetite. Against the greenback the franc strengthened, with the dollar down broadly as investors interpreted a Group of 20 agreement to shun competitive currency devaluations as a green light to resume dollar selling. The franc fell as low as 1.3671 per euro, according to Reuters data, but then clawed back some of those losses to trade up 0.2 per cent at 1.3605 compared to the New York close at 0656 GMT. The franc rose 1.0 per cent against the dollar to 0.9669 per dollar. The Swiss franc rose more than 10 per cent against the euro earlier this year and hit an alltime high of 1.2763 on Sept. 8. Switzerland's economic data release calendar for the week is quite sparse, with only the KOF leading indicator for October due on. Oct. 29. -Reuters

Dollar woes return after G20; yen at 15-year peak NEW YORK: The dollar fell broadly to a fresh 15-year low against the yen on Monday after a Group of 20 agreement failed to give investors any reason to stop selling the US currency. At the meeting in South Korea, G20 finance chiefs on Saturday agreed to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances clouding global growth prospects. Analysts said the outcome pointed to a status quo in currency markets, with the dollar staying under pressure due to expectations the Federal Reserve will unveil a second round of quantitative easing as early as its Nov. 2-3 meeting. The G20 statement "didn't go far enough as saying countries won't devalue their currencies so we saw the yen go to a fresh

15-year high," said John Doyle, strategist at Tempus Consulting in Washington. "The focus now is on the Fed's November 3 meeting and expectations of further quanti-

tative easing." of currencies, dropped 0.5 per cent to 77.126, but support was seen around its 10-month low at 76.144 touched mid October. The dollar fell 80.41 yen on electronic trading platform EBS, its lowest in 15 years. Market players said chances of Japanese yen-selling intervention would increase if the dollar fell below 80.00 yen and tests

Won lead gains on G20; wary of controls Investors cautious over intervention, capital controls Asian foreign exchange authorities, including both actual intervention and steps to check hot money inflows, they added. Earlier, a senior South Korean government official said that no currency rates were determined by markets alone. Regional authorities were estimated to have bought a combined $40.3 billion via intervention to curb strength in their currencies during the previous four weeks, according to traders' estimates compiled by IFR Markets. Korean authorities had managed to keep the won relatively

stable for much of the third quarter, before the latest round of inflows into emerging markets. The won found further support as foreign investors continued to snap up local shares and as investors cleared dollar-long positions to stop losses. IFR Markets quoted dealers as saying the Bank of Korea was suspected of having intervened below 1,117. The Malaysian ringgit also rose on a broadly weaker dollar. Traders generally did not expect to see any central Bank action while they are watching for moves in the euro and yuan. -Reuters

Sterling falls vs euro; UK GDP awaited

Taiwan $ at more than 2-yr high after G20

LONDON: Sterling fell to its lowest in nearly seven months against the euro on Monday, weighed down by the possibility the Bank of England may loosen monetary policy and that GDP data on Tuesday could point to a stuttering UK recovery. The pound rose against a broadly weaker dollar as a Group of 20 agreement to shun competitive currency devalua-

tions was viewed as a green light to resume dollar-selling on expectations the Federal Reserve will ease monetary policy next week. Investors were concerned weak UK third quarter gross domestic product data on Tuesday could increase the chances of more QE in the UK. Economists expect Britain's economy grew just 0.4 per cent between July and September, a third of the 1.2 per cent recorded the previous quarter. "The damage done to the dollar as the market moves to dis-

count Fed QE is clearly spilling over into sterling as the risks of more QE in the UK are clearly increasing," said Adam Cole, global head of currency strategy at RBC. By 1435 GMT, the euro was up 0.2 per cent at 89.04 pence, having earlier risen as high as 89.41 pence, its strongest since the end of March. Falls against the euro helped

push trade-weighted sterling down to 78.3, its weakest since late May and leaving it set to target the May low of 77.8. Sterling also fell to a 20-month low against the yen of 126.47 yen and dropped to its lowest in more than two decades against an outperforming Australian dollar at A$1.5768. Against the US dollar, the pound was up 0.2 per cent at $1.5720, with support seen above its 50-day moving average, currently at $1.5650. Reuters

TAIPEI: The Taiwan dollar hit a more than two-year high on Monday, tracking other Asian foreign exchange markets higher after a G20 consensus to avoid competitive currency devaluations sent the US dollar lower in global trade. Pledges by G20 finance leaders to avoid competitive devaluations and steer toward "market determined" forex rates pushed the Taiwan dollar to close at T$30.73 per US dollar, up from T$30.91 on Friday. Monday's final Taiwan dollar price was its strongest since Aug. 5, 2008. Markets are focused now on the US Federal Reserve meeting on Nov. 2-3, when officials are expected to kick off a further round of quantitative easing to jumpstart economic recovery. Net foreign fund inflows into Taiwan stocks totaled an unusually high T$15.256 billion ($496 million) on Monday. Taiwan's central bank was seen intervening to control the day's currency gains as it worries that easing in the United States will open the forex market to hot money, making Taiwan dollars more expensive for exporters. -Reuters

Aussie firm; strong producer prices raise rate risk SYDNEY: The Australian dollar jumped over a cent on Monday, helped by strong producer prices, a multi-billion dollar takeover and buoyant demand for riskier assets after G20 talks cooled fears of a "currency war". The Australian dollar climbed as far as $0.9935, from New York's $0.9807. The rise was accelerated after stop-loss buy orders kicked in above $0.9888 and $0.9900. More buy orders were seen lined up above resistance at hourly high of $0.9955. Demand for the Australian dollar rubbed off on the New Zealand dollar, lifting it to $0.7525, from $0.7463 in New York. Resistance was seen at $0.7570, and support at $0.7456. The buy orders for the Aussie kicked in after data showed producer prices jumped last quarter by the most since 2008, feeding talk that Wednesday's inflation data could be on the high side and point to more domestic rate hikes. "Producer price index data tend to lead consumer price index by about one quarter and

therefore point to upstream inflation pressures that will keep the Reserve Bank of Australia (RBA) hawkish," Barclays said. The market is paying closer than usual attention to this week's inflation report as the RBA has said that part of its Nov. 2 policy decision depends on how the data shapes up. Indeed, the producer price report led investors to up the chance of rates hitting 4.75 per cent in November to 53 per cent, from Friday's 38 per cent. Australian rates stand at 4.5 per cent now, the highest in the developed world. Comments from RBA Governor Glenn Stevens on Monday also suggested the central bank was wary of a spike in inflation. Stevens said Australia's booming commodity exports -- owing to surging Asian demand -- represented an expansionary shock for the economy, and said accepting inflation above the RBA's target range of 2-3 per cent would not help the economy. -Reuters

its record low of 79.75 yen. In early New York trade the dollar was last at 80.62 yen, having earlier risen as high as $1.4080 and breaking through resistance at $1.4051.

But the euro pared gains after a report showed sales of previously owned US homes rose a more than expected 10 per cent in September indicating the housing market was stabilizing at weaker levels. Euro move back below $1.4000 was viewed as significant given the euro had failed several times in recent days to break through and hold that

level. The euro rally on Monday marked the 76.4 per cent retracement of the euro's drop to $1.3697 last week from an 8-1/2 month high of $1.4161 hit earlier this month. Some traders expect $1.4161 to be reached soon. But gains above there were likely to be checked due to the presence of some large option barriers, including a one-touch option barrier at $1.4215 that is set to expire on Wednesday. That could lead to a strongerthan-usual defence of that level with the barrier payout said to be a 30 million euros. More typical option payouts are in the 3-5 million euro range. The Australian dollar surged roughly 1.2 per cent to $0.9940, boosted by news that Singapore Exchange will buy Australian bourse operator ASX, and expectations of a rate hike early next month.. -Reuters

Yuan ends higher on appreciation hopes SHANGHAI/HONG KONG: Spot yuan ended up against the dollar on Monday and traded stubbornly above the Chinese central Bank's mid-point amid lingering expectations that the Chinese currency will resume appreciation soon. The People's Bank of China set a slightly stronger midpoint, or its reference rate from which the yuan can rise or fall 0.5 per cent in a day, signalling the yuan's retreat after a surprise official interest rate hike may have drawn to an end. Offshore dollar/yuan forwards fell to imply more yuan appreciation in the future after the G20 meeting of finance ministers over the weekend practically gave a green light to traders to buy Asian currencies. Many China-based dealers still widely expect the PBOC to let the yuan resume appreciation later this week and firm to around 6.60 against the dollar by late November, as

Beijing typically gives concessions, or goodwill gestures, ahead of political events that will boost pressure for yuan appreciation. Now there will be a slew of such events in November. The yuan closed at 6.6581 against the dollar on Monday, up from Friday's close of 6.6590 and much stronger than Monday's PBOC mid-point of 6.6729, which was up slightly from Friday's reference rate of 6.6759. The yuan has appreciated 2.52 per cent since the PBOC announced its depegging to the dollar on June 19. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards (NDFs) fell to 6.4371 from Friday's close of 6.4575, with their implied yuan appreciation in a year's time rising to 3.66 per cent from 3.39 per cent, after the weekend G20 meeting agreement suggested more gains for Asian currencies. -Reuters

Indian rupee gains on dollar fall; shares boost MUMBAI: The Indian rupee rose on Monday, pulling back from its biggest fall in a month-and-half in the previous session as gains in domestic shares fuelled hopes for more inflows while a weak dollar also helped sentiment. The partially convertible rupee closed at 44.35/36 per dollar, half a per cent stronger than 44.59/60 at close on Friday when it dropped 0.65 per cent, in its biggest one-day fall since early September. "The dollar-rupee is bouncing end-to-end from sell zone of 44.55-44.65 and buy zone of 44.25-44.35," said J. Moses Harding, head of global markets at IndusInd Bank in Mumbai. "Two factors are dominating now - general dollar weakness ahead of quantitative easing 2 and Coal India IPO outflows in the first week of November. These two forces are good enough to keep the rupee in a tight

Source AUD CHF EUR EUR GBP USD USD

Events NAB Quarterly Business Confidence UBS Consumption Indicator GfK German Consumer Climate German Import Prices m/m Prelim GDP q/q S&P/CS Composite-20 HPI y/y CB Consumer Confidence

Forecast

5.2 0.1% 0.4% 2.4% 49.3

Previous 3 1.95 4.9 0.2% 1.2% 3.2% 48.5

Previous Day

G20 vows to refrain from competitive devaluations

Asian currencies

SEOUL: The South Korean won and the Taiwan dollar led gains in Asian currencies against the dollar on Monday as a G20 agreement to shun competitive currency devaluation pushed down the greenback broadly. Asian currencies are expected to rise further on continuous inflows to the region and on expectations that the Federal Reserve will announce another round of quantitative easing as early as next month, analysts and dealers said. Still, investors remained cautious over possible steps by

Top Economic Events Time 5:30 11:00 11:00 11:00 13:30 18:00 19:00

range within 44.25-44.65". Foreign investments in shares now stand at a record $24.4 billion, compared with $17.5 billion last year. One-month offshore nondeliverable forward contracts were quoted at 44.62, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 44.3725, 44.38 and 44.3550 respectively, with the total traded volume on the three exchanges at a low $5.7 billion. -Reuters

Source

Events

Actual

Forecast

Previous

JPY AUD GBP EUR USD

Trade Balance PPI q/q BBA Mortgage Approvals Industrial New Orders m/m Existing Home Sales

0.59T 1.3% 31.1K 5.3% 4.53M

0.50T 0.6% 31.6K 2.1% 4.29M

0.57T 0.3% 31.8K -1.8% 4.12M

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

As per 22.00 PST Ask High 1.4095 1.4190 0.888 0.894 1.3564 1.3671 112.83 113.78 0.9705 0.9791 1.0203 1.0267 1.5749 1.5769 127.1 127.73 0.9923 0.9973 1.4264 1.4347 83.19 83.48 1338.44 1348.51 23.57 23.83

Bid 1.4089 0.8877 1.356 112.78 0.9701 1.0198 1.5713 127.03 0.9918 1.4258 83.14 1337.64 23.54

Low 1.4054 0.8865 1.3548 112.58 0.9664 1.0156 1.5667 126.49 0.9817 1.4227 82.91 1327.73 22.28

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 25/10/2010 A USD GBP CAD EUR JPY O/N 0.22563 0.55250 1.02833 0.76125 SN 0.09438 1WK 0.25150 0.55500 1.05250 0.75500 0.10688 2WK 0.25169 0.56125 1.07167 0.76250 0.11375 1MO 0.25625 0.56875 1.10833 0.78625 0.12625 2MO 0.27109 0.62563 1.15333 0.84563 0.15438 3MO 0.28844 0.73725 1.21333 0.97063 0.19688 4MO 0.34219 0.82272 1.27333 1.03063 0.28250 5MO 0.40281 0.92563 1.32667 1.11688 0.34063 6MO 0.45250 1.02750 1.40000 1.21125 0.40125 7MO 0.50219 1.10225 1.45917 1.25750 0.46125 8MO 0.55025 1.18444 1.54667 1.30313 0.50625 9MO 0.60063 1.26500 1.61250 1.35813 0.55625 10MO 0.65375 1.33938 1.67667 1.40125 0.58375 11MO 0.70688 1.40688 1.75500 1.44625 0.61313 12MO 0.76525 1.47319 1.82667 1.49344 0.64188

Major Central Banks Overview Central Bank

Next Meeting

Last Change

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

Dec 07 2010 Nov 04 2010 Oct 28 2010 Nov 04 2010 Nov 03 2010 Dec 16 2010 Nov 02 2010

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

Current Interest Rate 1% 0.50% 0% 1% 0.25% 0.25% 4.50%

Division of National Bank of Pakistan (NBP) KARACHI, October 25,2010 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

86.00 135.41 120.69 84.18 88.30 85.39 13.09 1.06 14.90 66.43 16.18 22.93 11.08 12.92 305.48 27.78 64.75 23.62 23.42 0.08 2.88

85.80 135.09 120.41 83.98 88.10 85.20 13.06 1.06 14.87 66.28 16.14 22.88 11.05 12.89 304.77 27.71 64.60 23.57 23.36 0.08 2.87

85.61 134.78 120.13 83.76 87.87 84.97 13.02 1.06 14.83 66.10 16.10 22.82 11.02 12.86 303.97 27.64 64.43 23.51 23.30 0.08 2.86

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for October 25, 2010

CMKA

BMA

INVSR

GSL

ICSL

0-7days

12.00

12.15

12.05

11.95

12.00

JSCM AvgRate 12.10

12.04

8-15dys

12.10

12.15

12.15

12.05

12.15

12.20

12.13

16-30dys

12.30

12.35

12.25

12.25

12.25

12.30

12.28

31-60dys

12.40

12.40

12.35

12.40

12.35

12.40

12.38

61-90dys

12.65

12.63

12.60

12.67

12.60

12.62

12.63

91-120dys

12.75

12.75

12.70

12.80

12.75

12.75

12.75

121-180dys

13.00

12.95

12.90

12.99

12.98

13.00

12.97

181-270dys

13.05

13.00

13.05

13.10

13.10

13.05

13.06

271-365dys

13.20

13.15

13.15

13.22

13.20

13.20

13.19

2-- years

13.40

13.40

13.35

13.40

13.40

13.35

13.38

3-- years

13.60

13.60

13.65

13.65

13.60

13.68

13.63

4-- years

13.70

13.70

13.70

13.68

13.73

13.70

13.70

5-- years

13.75

13.75

13.73

13.74

13.75

13.74

13.74

6-- years

13.75

13.75

13.75

13.75

13.75

13.75

13.75

7-- years

13.75

13.75

13.75

13.76

13.75

13.75

13.75

8-- years

13.75

13.73

13.72

13.77

13.75

13.72

13.74

9-- years

13.70

13.73

13.73

13.65

13.70

13.73

13.71

10--years

13.80

13.77

13.80

13.85

13.80

13.80

13.80

15--years

14.20

14.25

14.25

14.20

14.20

14.25

14.23

20--years

14.35

14.50

14.30

14.35

14.30

14.35

14.36

30--years

14.50

14.60

14.50

14.50

14.50

14.50

14.52

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

-0.02 -0.92 -0.82 -0.69 -0.41 -0.60

-0.03 -0.70 0.18 0.78 0.62 0.67

-0.27 -0.90 -0.81 -0.11 0.34 0.12

0.22 0.18 -0.22 0.41 0.54 0.60

EUR/USD GBP/USD -0.25 -0.92 -0.73 -0.69 0.05 -0.06

0.15 -0.27 -0.38 -0.82 -0.22 -0.15

NZD/USD USD/CAD 0.06 -0.87 -0.68 -0.65 -0.41 -0.59

-0.13 0.52 0.48 0.18 -0.03 0.57

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)25/10/2010 1WEEK

2 WEEK

1 MONTH

3 MONTH

6 MONTH

9 MONTH

1YEAR

2YEARS

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

ABLN 11.75

12.25

11.85

12.35

12.10

12.60

12.75

13.00

12.90

13.15

13.10

13.60

13.25

13.75

13.35

13.85

ABPL JSBL

ASK

12.00

12.50

12.05

12.55

12.30

12.80

12.75

13.00

13.05

13.30

13.20

13.70

13.30

13.80

13.50

14.00

ASPK 11.80

12.30

11.90

12.40

12.15

12.65

12.65

12.90

12.90

13.15

13.10

13.60

13.15

13.65

13.30

13.80

CIPK

11.70

12.20

12.00

12.50

12.20

12.70

12.50

12.75

12.75

13.00

12.90

13.40

13.10

13.60

13.20

13.70

DBPK 11.60

12.10

11.80

12.30

12.10

12.60

12.70

12.95

12.90

13.15

13.15

13.65

13.25

13.75

13.35

13.85

FBPK

11.65

12.15

11.80

12.30

12.00

12.50

12.60

12.85

13.00

13.25

13.10

13.60

13.15

13.65

13.40

13.90

FLAH 11.80

12.30

11.90

12.40

12.20

12.70

12.75

13.00

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

HBPK 11.90

12.40

12.10

12.60

12.25

12.75

12.75

13.00

13.00

13.25

13.10

13.60

13.20

13.70

13.35

13.85

HKBP 11.85

12.35

12.00

12.50

12.20

12.70

12.75

13.00

12.90

13.15

13.10

13.60

13.20

13.70

13.30

13.80

NIPK

11.75

12.25

12.20

12.70

12.60

13.10

12.85

13.10

13.00

13.25

13.05

13.55

13.10

13.60

13.15

13.65

HMBP 11.90

12.40

12.00

12.50

12.40

12.90

12.80

13.05

13.00

13.25

13.15

13.65

13.20

13.70

13.30

13.80

SAMB 11.75

12.25

11.95

12.45

12.30

12.80

12.85

13.10

13.00

13.25

13.15

13.65

13.25

13.75

13.35

13.85

MCBK

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

NBPK 11.90

12.40

12.00

12.50

12.20

12.70

12.70

12.95

12.80

13.05

13.10

13.60

13.20

13.70

13.30

13.80

SCPK

13.85

11.80

12.30

11.80

12.30

12.15

12.65

12.70

12.95

12.95

13.20

13.10

13.60

13.15

13.65

13.35

UBPL 11.75

12.25

11.80

12.30

12.10

12.60

12.60

12.85

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

AVE

12.29

11.93

12.43

12.19

12.69

12.72

12.97

12.95

13.20

13.11

13.61

13.19

13.69

13.32

13.82

11.79


4 Tuesday, October 26, 2010

Obama’s Indian Sojourn

The Financial Daily International Vol 4, Issue 80

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

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

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

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

Power consumers deserve better Karachi Electric Supply Company (KESC) has increased the spells of load shedding even further, this time the pretext is the curtailment of its gas supply by Sui Southern Gas Company (SSGC). Of this whole situation the worst hit are the consumers who pay their electricity bills in full and on time, while "some" whose number runs in thousands or maybe more enjoy power free of cost. In fact it's the pilferers the brunt of whose deeds is being borne by the billpayers. Their anger is justified. It has been highlighted repeatedly that unless electric utilities' transmission and distribution (T&D) losses (currently hovering around 40 per cent) are reduced and intercorporate debt issue is resolved any hike in tariff won't be able to improve the cashflow. The latest pretext that utilities' gas supply has been curtailed is totally unacceptable. This could have made any difference had the utilities made any effort to contain the theft, which has been going on since ages with the connivance of utilities' staff. Having said this, it is also necessary to reiterate that the consumers should also realise their responsibility of paying the bills. They are only asked to pay for a service, which they have utilised. If they fail to discharge their duty the only option left is recovery through court of law. However, this can't be done unless utility companies regularise all the illegal connections and ensure uninterrupted electricity supply at affordable cost. People have a valid question, why should they bear the cost of those who enjoy costfree electricity? The rule is simple everyone using electricity must foot the bill. The government must also accept the fact that situation in the power plants operating under state control has gone worst because of hundreds and thousands of political activists' induction. One may not have any objection to political employments as long as these employees deliver accordingly. However, they become a problem for the management when they do not work and someone else has to do their job without any compensation. The situation in KESC has become precarious after its privatisation. It has labour unions backed by political parties; it has consumers supported by vested-interests and has a management, which has yet to learn how to manage a utility. Managing a utility is very different from running a financial institution or a manufacturing industry. Some experts term privatisation a failure because three basic objectives are yet at large. They are: 1) reduction in tariff through better management, 2) induction of new capital for adding new facilities, 3) and BMR. Both the previous and present governments have not extended any help to KESC in removing the illegal connection. The highest resistance comes from the consumers because they do not want disruption in supply but are certainly willing to get their connections regularised. It is the responsibility of elected representative to convince their votebanks to get their connections legalised. The sooner it is done the better it will be for all the consumers.

Disclaimer:

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

T

outed as a visit with an emerging economic power, US President Barack Obama's trip to India in November will also be about how New Delhi deals with that elephant in the room - the Pakistan-Afghanistan conundrum. After nine years of war, there are signs the United States and President Hamid Karzai are reaching out to talk to the Taliban, and New Delhi wants to ensure any eventual settlement protects India from the risk of militant groups on its doorstep. That could mean India reaching out for regional initiatives to ensure a stable Afghanistan, including closer ties with Iran and Russia -- all Afghan neighbours worried about the Taliban in their backyard - if Washington cuts and runs. "There is a realisation in India that the United States is not going to preserve your interests. You are going to have to," said Srinath Raghavan, a senior fellow at the Centre for Policy Research in New Delhi. "India is looking more at having an insurance policy in Afghanistan rather than playing an active role" India and the United States largely see eye to eye over a range of issues as the former Cold War ally of the Soviet Union increasingly turns to the West. The two may see their interests diverge over Afghanistan, although it is little threat to wider ties, as Obama's trip -his longest presidential trip to any one country -- shows. India is Afghanistan's biggest regional aid donor and its $1.3 billion of projects, from building a parliament to a highway to Iran, shows how New Delhi seeks to counter the Taliban. Washington has been happy to see that aid, but not its ally Pakistan, India's archrival and fellow nuclear power, especially the Pakistan military which sees Afghanistan as its own

backyard. "India thinks that the US is placing too much reliance on Pakistan in Afghanistan, and it's not to be trusted," said Walter Andersen, a former US State Department official now at Johns Hopkins University's School of

“

Taliban's rule coincided with a spurt in cross-border militant attacks in India, and a sense that militants could act with impunity in the region. India has already blamed Pakistan for a "proxy war" in Afghanistan that in recent years has seen a car bomb attack on the Indian embassy. WHAT IS OBAMA THINKING? The trouble for India is knowing exactly what Obama plans to do in Afghanistan - when will troops be withdrawn, or how many? What influence could the Taliban have in any peace settlement ? US journalist Bob Woodward's new book "Obama's Wars" underscored for many commentators that Obama's administration is deeply divided over its Afghan strategy. "Once we have clarity what the United States wants to do, we can play the end game," said Siddharth Varadarajan, strategic affairs editor of The Hindu newspaper. "Whether for example to better ties with neighbours

India and the United States largely see eye to eye over a range of issues as the former Cold War ally of the Soviet Union increasingly turns to the West. The two may see their interests diverge over Afghanistan, although it is little threat to wider ties, as Obama's trip -- his longest presidential trip to any one country -- shows Advanced International Studies. He said Obama could take advantage of India's rivalry with Pakistan to pressure Islamabad to do more on

With Mumbai etched in Indians' minds, New Delhi will likely tell Washington to be cautious about Pakistan and talking to the Taliban, but New Delhi has so far avoided upping tension with Islamabad, a policy that has won plaudits in Washington Afghanistan. "I've often wondered why he didn't do it earlier," Andersen said. What India fears most is a return to the 1990s, when the Pakistan-backed

like Iran." That would mean a fine-balancing act over Iran as the United States steps up sanctions. India has already dis-

cussed reviving talks over a gas pipeline from Iran and there have been an increasing number of official visits between the two nations. But so far US ties have improved after hiccups at the start of Obama's presidency, when New Delhi successfully blocked attempts by Washington to include a Kashmir solution as part of a strategy to bring stability to Pakistan and Afghanistan. India sees Kashmir as a bilateral issue and dismisses any outside influence. India's relations with Pakistan have been at a low ebb since the Mumbai attacks in 2008 when Pakistani militants crossed over to India's financial hub and killed 166 people. With Mumbai etched in Indians' minds, New Delhi will likely tell Washington to be cautious about Pakistan and talking to the Taliban, but New Delhi has so far avoided upping tension with Islamabad, a policy that has won plaudits in Washington. "There's no evidence -- certainly not in the Woodward book -- that the administration thinks of India regarding Afghanistan in terms other than asking it not to pressure Pakistan," Stephen P. Cohen, a senior fellow in foreign policy studies at the Brookings Institution in Washington, wrote in an email reply. India has also showed reluctance to get embroiled further in Afghanistan. Despite its aid, New Delhi has backed off from more ambitious proposals to train the Afghan army and police. "India is a secondary player in Afghanistan," said C. Raja Mohan, strategic affairs editor at the Indian Express. So India may push small initiatives, like reinforcing support of leaders linked to the North Alliance -- the antiTaliban grouping which India backed in the 1990s. "We can't figure out a way to use India, which is a regional power," wrote Cohen. The bitter rivals seem destined to play opposing roles in Afghanistan, he said.-Reuters

IMF Power Shift to Birth Breakthroughs A

G20 agreement to give emerging market countries more power in the International Monetary Fund opens the door for breakthroughs on easing global tensions over trade imbalances. The surprise deal reached at weekend meetings of finance ministers from the Group of 20 in South Korea shifts IMF voting power to under-represented emerging countries like China, India, Brazil and Turkey. Countries like the United States are betting that with greater representation emerging economies such as China will be more willing to address the trade distortions causing currency volatility and threatening increased protectionism. The deal avoided a widening of the gulf between emerging and developed nations and a chaotic ending to a G20 meeting in which the United States failed to convince China and others to agree to targets to limit current account imbalances. The IMF agreement also spares the G20 from losing credibility, opening the way for G20 heads of state, meeting in Seoul on Nov. 11 and 12, to handle more politically difficult decisions on fixing the trade imbalance problem. U.S. Treasury Secretary Timothy Geithner flew to China on Sunday for further

talks with Chinese authorities in the hopes of finalising a currency deal before the Seoul summit. Youssef Boutros-Ghali, Egypt's finance minister who heads the IMF's steering policy panel, t h e International Monetary and Financial Committee, said problems in the world economy could not be addressed w i t h o u t acknowledging the rising clout of emerging economies. "This deal was necessary for us to get anywhere. This was a necessary condition, not a sufficient condition, for any further reform of the institution," he told Reuters by phone. "Nobody got exactly what he wanted and nobody is going home with what he wished, but everybody walks home with a viable solution," said BoutrosGhali, who attended the G20 meeting in Gyeongju. Just hours after ministers signaled a deal was unlikely and would be left to G20 leaders summit in Seoul on Nov. 12, IMF chief Dominique StraussKahn declared a historic agree-

ment had been reached. Analysts said the deal was fairly similar to what ministers were unable to agree just two weeks earlier at IMF meetings in Washington and questioned

specifics. HOLDING OUT FOR BETTER DEAL G20 officials said the breakthrough IMF deal came during a separate meeting of BRIC

“

The surprise deal reached at weekend meetings of finance ministers from the Group of 20 in South Korea shifts IMF voting power to under-represented emerging countries like China, India, Brazil and Turkey what had triggered the aboutturn. "It raises a possibility there may be another side to this deal," said Domenico Lombardi, a former IMF board official and now a senior fellow at the Brookings Institution think tank in Washington. "It implies some sort of a commitment from emerging economies in terms of rebalancing the current accounts or in terms of greater exchange rate flexibility." The G20 communique on Saturday called for more market-determined exchange rate systems and the avoidance of competitive devaluations of currencies but failed to get into

countries -- China, Russia, India and Brazil -- and the Group of Seven industrial nations made up of the United States, Britain, France, Italy, Japan, Canada and Germany. One official said Russia and Brazil argued the deal did not go far enough in shifting power to emerging economies, India was more conciliatory, while Turkey complained there was no deadline on achieving the shift. In the end, the grand bargain transfers six per cent of voting power to under-represented "dynamic" emerging economies, putting China below the United States and Japan in IMF voting power

from sixth place. The changes will also see Europe give up two seats to emerging economies on the 24-member IMF board. Analysts said the deal will increase the legitimacy of the IMF at a time when it is set to play a larger role in policing the global economy. The IMF showed during the global financial crisis that it was an effective lender of last resort, but it still has to show its persuading powers on thornier issues, such as foreign exchange policies and current account imbalances. Analysts said there were no guarantees that by giving emerging market economies more IMF voting power and stepping up IMF oversight of the world economy it will force them to change their policies. "The lack of an enforcement mechanism makes it unlikely, however, that the enhanced surveillance procedures will work in getting countries to shift their policies -- this approach has been tried before and did not work," said Eswar Prasad, a former IMF official and now a senior fellow at Brookings Institution. "The threat of 'additional surveillance' is unlikely to convince large countries to change their policies," he added.Reuters

Karachi, a no-live zone

No way out of facebook

Karachi, the largest metropolis of Pakistan, is being assumed for the past few months as a 'no-live zone' by its own citizens, because of the recent streaks of violence and target killings. Worse thing about the situation is that once people from all the parts of the country came here to obtain jobs and get settled but now most of the educated lads are fleeing off the city. The institutions which are suppose to provide "protection" -the word so unfamiliar to Karachiites-seem to be puppets of mafias. Based on the recent survey, the number of street crimes only in this month swelled to 321, cars thefts to 159 and the lists has been rapidly raised to an alarming rate. People or organisations working for the welfare of the society are being seriously threatened by the gangs which are openly and deliberately violating the laws and destroying the so-called peace and image of the city. Saman Maudood, Karachi

Facebook is like a spider web once you enter in it you never find a way out, but on the other hand you also find entertainment and fun here. It posses a lot's of charm, here you can make many friends, with whom you communicate and talk whatever you think on any issue like political, social etc. It is a common platform featuring people fro all across the globe. You come to know about many people their relagion, culture and life style through it. There is a lot of interesting application. Personnel pages, fan groups are the places where you can share videos, photos and say your heart out. You can make a group and you can make upload your own painting talent and have a lot of fans by it. Facebook comes up with a new and interesting feature every time. Recently it introduced a new group feature in which you now chat with all group members either they are added in your friends list or not. Urooj Fatima, Karachi


5

Tuesday, October 26, 2010

South East Asian stocks

European shares rise as weak dollar lifts miners KSE-100 Index Opening Closing Change % Change Turnover (mn)

10,652.48 10,703.71 51.23 0.48 158.05

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

3,321.49 3,331.22 9.73 0.29 10.07

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

2,700.87 2,706.00 5.13 0.19 0.20

Major Gainers

Symbol

Close

Change

SIEM 1,242.65 BATA 540.69 ULEVER 4,020.00 FZTM 389.99 NESTLE 1,954.01

59.17 25.74 19.98 13.11 11.91

Major Losers

Symbol

Close

Change

ATLH SHEL AKDCL SCL FZCM

114.94 183.62 58.92 53.61 49.08

-6.03 -4.87 -3.09 -2.59 -2.58

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA BAFL NBP JSCL NPL

10.43 9.99 67.81 10.44 13.51

15.92 11.21 7.93 7.80 6.88

Active Issues Plus Minus Unchanged

233 145 12

Sector Updates FERTILISER 000 tonnes

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

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units

INDUS MOTOR CO Production (July 09 to June 10) 50,557 Sales (July 09 to June 10) 50,823 Production (July 10) 5,162 Sales (July 10) 4,999

HONDA ATLAS CAR Production (July 09 to June 10) 13,500 Sales (July 09 to June 10) 14,120 Production (July 10) 1,560 Sales (July 10) 1,272

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

BANKING SECTOR Scheduled bank (Rs in mn) Deposit (August 20,10) 4,595,176 Advances (August 20,10) 3,304,533 Investments (August 20,10) 1,788,671 Spread (July 2010) 7.51%

OIL MARKETING CO (000 tons)

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

KSE hits 26-month high, closes above 10,700 level Nawaz Ali KARACHI: Pakistan’s premier bourse ended at its highest level in 26 months on Monday as buying on hopes of better corporate results led the apex index to close above 10,700 points. The benchmark KSE 100Index increased by 51 points to close at 10,703 points, KSE 30Index grew by 47 points to close at 10,297 points and KSE All Share Index rose by 38 points to close at 7,453 points. It should be noted that last time the index had closed

above 10,700-level in August 2008. "Investors poured money into the market on expecting better-than-expected results", said Ahmed Rauf, equity dealer at JS Global Capital. Bulls were there at the trading floor since the opening bells as index started the day with 34plus-points. Gains increased as investors took position with healthy corporate results on mind. Results season is in full swing where companies like; Oil & Gas Development Company, MCB Bank, United

Indian shares up on banks, metals MUMBAI: Continued robust foreign portfolio investments and firm world equities helped Indian shares notch a 0.7 per cent gain on Monday, led by financials and metal makers. The No. 3 outsourcer Wipro slid as much as nearly 5 per cent after brokerages such as Credit Suisse and JP Morgan downgraded their ratings on the stock after disappointing September-quarter results. Shares of Wipro closed down 4.04 per cent at Rs430.30. "Despite repeated pronouncements and investments in its (Wipro's) mega/gamma strategy intended to increase spending from its marquee clients, the contribution from key clients is still low and signifi-

cantly trails that of peers, pulling down growth," JP Morgan said in a note. The 30-share BSE index firmed 0.68 per cent or 137.26 points to 20,303.12, with 23 of its components closing in the green. The main index has risen 16.3 per cent year to date and is just around 900 points shy of its record high. "We are optimistic on Indian equities based on strong economic and corporate fundamentals," said Vaibhav Sanghavi, director at Ambit Capital. "The two key things to look out for are the upcoming Fed (US Federal Reserve) meet and the movement in international currencies." See # 7 Page 11

ANNOUNCEMENTS

Production (July 09 to June 10) 71,998 Sales (July 09 to June 10) 73,993 Production (July 10) 7,509 Sales (July 10) 4,503

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

Mostly higher led by Jakarta on earnings outlook

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

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

Company Siemens Pak Ali Asghar Textile AL-Noor ModarabaXD Bolan Casting XDXB Colgate Palmol. Fateh Industries Fateh Sports Fauji Cement Fazal TextileXD Hafiz Textile Haydery Const Jubilee Spinning Khalid Siraj Orix Leasing Pak Hotels Pak Pap.Prod.XDXB Quality TextileXD Siddiqsons Tin XD Stand.Chart.Mod XD Bata (Pak) Ltd. Central Ins.XB Highnoon (Lab) Meezan Bank Ltd. Mybank Network Mic Bank Pak Suzuki Motor Co. Sec. Inv. Bank Soneri Bank Limited

Period Yearly 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 1st Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr 3rd Qtr

Div/Bon/Right 600%(F)(D) -

PAT (Rs in mn) 999.465 26.236 3.085 -2.141 210.345 -0.107 -3.169 105.890 193.843 0.731 -0.073 -6.549 -12.428 28.150 0.722 6.486 66.574 17.485 22.982 683.983 184.350 44.806 994.738 -1,392.355 -7.701 388.017 9.883 -17.600

EPS(Rs) 121.19 0.59 0.15 -0.23 6.66 -0.05 -1.58 0.15 31.33 0.61 -0.01 -0.20 -1.10 0.34 0.04 1.30 4.17 0.22 0.51 90.47 6.60 2.71 1.42 -0.74 -0.26 4.71 0.19 -0.03

Bank, Engro Corp, Fauji Fertiliser, and Hub Power would announce their financial figures this week. The bullishness continued throughout the session with buying mainly in the banking stocks, as a result the main index near midday touched an intra-day high of 10,769 points (+ive 116 points). Apart from corporate result hopes, the news that US have approved a $7.5 billion grant too was a factor that sparked off buying. However, some profit-taking was witnessed at higher levels which clipped the index gains

Result Preview

OGDC 1Q net may jump 33.6pc Ahmed Siddique KARACHI: The after-tax earning of Oil & Gas Development Company Limited (OGDC) --country's top energy firm-- is likely to increase by 33.6 per cent to Rs16.12 billion for the 1st quarter of fiscal year 2010-11, yielding an earning per share (EPS) of Rs3.73, The Financial Daily (TFD) Research analyst revealed Monday. In 1QFY10, the company had posted a profit of Rs12.06 billion --an EPS of Rs2.81. OGDC, scheduled to announce its results today (Tuesday) is expected to declare a first interim cash dividend of Rs1.5 per share . Company’s earning is likely to increase as Ogra had notified wellhead gas price of Bobi field on a retrospective basis for the period between January 1, 2007 and December 31, 2010. Thus we expect onetime impact of Rs0.42/share in 1QFY11 result. Net sales of the firm may surge by 15.9 per cent to Rs36.87 billion primarily due to 3.2 per cent weighted average hike in wellhead gas prices and increase in average price of crude oil during 1QFY11 by 8.8 per cent YoY to $74.04 a barrel against $68.07 a barrel (Arab Light) in 1QFY10. Gross profit is also expected to go up by 18.6 per cent to See # 8 Page 11

brokerages as a pick up in trading activity on local markets suggested a recovery in investor sentiment. Daily turnover on the SHANGHAI exchange hit a record high last Monday. "Brokerages are profiting because of the increased number of transactions recently, with the influx of funds entering the market," said Zhang Qi, analyst at Haitong Securities. Top brokerage Citic Securities and rival Haitong Securities both jumped up to their 10 per cent limit. The SHANGHAI Composite has risen 13.5 per cent this month, despite a surprise interest rate rise by China's central bank last week, cutting losses for the year to 8 per cent compared with 18.9 per cent at the end of September. SHANGHAI's A-share index is trading at about 13.7 times its 12-month forward price-toearnings multiple, Thomson

the local side, companies and banks did a net-buying of $2.84 million and $0.55 million respectively while mutual funds and NBFCs net-sold equities worth $1.13 million and $0.64 million respectively. Volumes too remained impressive throughout the session as 158 million sharers traded during the day which is just 2.3 million less as compared to a turnover of 160.3 million shares on Friday. Out of total 390 active issues 233 advanced and 145 declined while 12 issues remained unchanged.

Nikkei inches down as yen hits 15-yr peak TOKYO: Japan's Nikkei average fell 0.3 per cent on Monday as the yen reached a fresh 15year high on the dollar and approached an all-time peak, but investors were careful about trading actively ahead of the country's main earnings period. The reporting season is about to get into full swing in Japan, with a flurry of major companies set to report this week including Canon Inc on Wednesday and Sony Corp on Friday. The yen rose as high as 80.65

against the dollar on trading platform EBS, its highest since 1995. It was up about 0.9 per cent on the day, advancing closer to its postwar record high of 79.75 set in April 1995. "The Nikkei was pressured by the yen's rise. But the Nikkei basically moved in a very narrow range throughout the day as the market was reluctant to take new positions before earnings, as well as US mid-term elections and the FOMC meeting," said Takashi Ohba, senior strategist at Okasan Securities. See # 6 Page 11

Declares 20pc dividend

SNGPL FY10 profit up by mighty 175pc Aamir Abidi KARACHI: According to a notice issued to Karachi Stock Exchange (KSE) here Monday Sui Northern Gas Pipelines Limited's (SNGPL) FY10 earnings took a mighty 175 per cent jump to reach Rs2.55 billion against Rs931 million in FY09. The FY10 earning per share was also up at Rs4.65 against Rs1.69 in FY09. The result was encouraging compared with previous years as company profitability surged

big time. Furthermore company declared 20 per cent cash dividend i.e. Rs2 per share. During the period under review Company's gross sales increased by 7.64 per cent to Rs160.71 billion from an earlier Rs172.99 billion. Gross profit surged by 21.39 per cent to Rs 5.61 billion compared with Rs4.62 billion witnessed in FY09. Other Operating income also contributed towards profitability which hiked by 73 per cent to Rs7.77 billion.

LONDON: Britain's top shares ended higher on Monday, supported by strength in miners as metals and crude prices rose amid a weaker dollar after G20 finance ministers agreed to avoid competitive currency devaluations. At the close, the FTSE 100 was up 10.61 points, or 0.2 per cent, at 5,751.98, just below last Thursday's sixmonth closing high. It hit a 5,794.31 high during the session. Heavyweight miners led the blue chips advance as copper prices rose to a 27-month high after the dollar fell following the agreement at the weekend G20 meeting of finance ministers. Chilean copper miner Antofagasta was the top FTSE riser, up 4.1 per cent, helped by a Goldman Sachs upgrade to "buy" from "neutral". "Miners provided LONDON's fuel but as the session wore on there was little else to keep up the momentum, and so Wall Street saw its early gains eroded, along with the FTSE," said Mic Mills, head of electronic trading at ETX Capital. US blue chips were 0.6 per cent higher by LONDON's close, buoyed by the weaker dollar and hopes for further quantitative easing (QE) from the US Federal Reserve. But a lack of comment in a speech from Fed chief Ben Bernanke and above-forecast US existing home sales data curbed the QE enthusiasm and saw opening gains halved. Away from commodities, Burberry was a strong gainer, up 3.2 per cent as investors speculated LVMH's purchase of a minority stake in Hermes may spark bid interest in the sector. On the second line, spillover speculative interest saw the LONDON Stock Exchange gain 5 per cent after Singapore Exchange's A$8.4 billion ($8.2 billion) agreed takeover bid for Australian ASX.-Reuters

Dhiyan

CATCH DIVIDEND-YIELDERS Mohammad Sohail, CEO Topline Securities

Corporate results' euphoria is likely to continue till next week with good volumes. Index is expected to see resistance at 10,800-11,000 levels. Investors are suggested to invest in good dividend-yielders and earning-growth-showers. Advisably, investors shouldn't be aggressive and buy gradually. Exploration, fertiliser, textile sectors, and IPPs are quite investable where our top picks are POL, PPL, HUBC and NML. Positive outcome of the negotiations with IMF would spur buying. Market would be positive in the morning today however Reuters data shows, its highest there may be some profit taking in the later half. since April this year when Beijing's move to curb property speculation set off a sharp decline. Analysts said that while valuations had crept higher since July, financials and large blue chips still looked attractive and had room to rise. "This is not only because of Kashif Mustafa, NAMCO good earnings expectations but because money is flowing in," The bullish trend is expected to sustain in the coming days riding on improving political front, successful strategic dialogue with US said Zhang. Non-ferrous metal plays rose and a positive signal from IMF. Whereas good corporate results in a continuation of a recent and buying by the foreign investors would intensify the bullish rally in materials stocks on the activities therefore index would soon cross 11,000 points level. back of a weakening dollar. The dollar dropped on Investors are advised to invest in oil and banking stocks. Market Monday, driving up prices of would sustain at 10,700 level today. commodities, as traders bet the currency would continue to stay pressured after the G20 meeting over the weekend. Xiamen Tungsten Co Ltd, Sino-Platinum Metals Co Ltd and Baoji Titanium Industry Co Ltd all jumped by their 10 per cent limit.-Reuters

Shanghai hits 6-mth high, HK up on earnings, USD HONG KONG/SHANGHAI: Shanghai shares rose to a sixmonth high on Monday and Hong Kong's benchmark recovered most of last week's losses as earnings optimism and a weaker dollar lifted commodity and Energy-related plays. A mild selloff in local developers erased some early gains in Hong Kong to leave the Hang Seng index up 0.5 per cent at 23,627.9. The index faces resistance at its 28-month peak around 23,850, a level that also coincides with the 61.8 per cent retracement of the benchmark's slide from its October 2007 peak to its October 2008 trough. SHANGHAI's main stock index jumped 2.6 per cent to 3,051, its highest close since April 16. Gains in Energy plays and the heavily weighted financials sector helped to keep the index above the 3,000-level. The financial rally was led by

but it managed to sustain above 10,700 points at the end of the session. Banking sector remained in the limelight during the day mainly owing to expectations of further tightening in the monetary policy while the recent move on the order of Supreme Court for the recovery of loans waived in previous regimes too lured investors into the sector. Foreign investors, however, were mainly on the selling side as according to NCCPL there was a net-foreign-buying of $1.3 million on Monday. On

FTSE ends higher as miners advance


6

Tuesday, October 26, 2010

Market 158,053,385

Value

4,894,963,249

Trades

74,094

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

232 145 12 389

All Share Index

10,703.71 10,769.55 10,641.71 h51.23

Current High Low Change

KSE 30 Index

7,453.26 7,497.96 7,408.22 h38.66

Current High Low Change

KMI 30 Index Current High Low Change

10,297.54 10,372.42 10,250.08 h47.46

16,914.63 17,013.48 16,791.09 h123.54

OIL AND GAS

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index

Performance of SR Industrial Transportation Index

Open 1,348.22 Turnover 7,855,891 P/E (x) 11.28 Company

KSE 100 Index

Symbols

Volume

PE

High Low 1,366.22 1,339.56 Total cos Defaulter cos P/BV (x) ROE (%) 4.17 37.01

Open

High

Low

Attock PetroleumXDXB 691 4.61 296.07 Attock Refinery 853 18.45 99.54 BYCO Petroleum 3921 - 11.25 Mari Gas Company 735 17.14 125.94 National Refinery XD 800 5.50 210.18 Oil & Gas Development XD 43009 10.53 153.16 Pak Petroleum 11950 7.77 189.15 Pak Oilfields XD 2365 6.23 243.22 Pak Refinery Limited 350 - 76.34 P.S.O XD 1715 4.56 266.00 Shell Gas LPG 226 17.24 38.37 Shell Pakistan XD 685 9.42 188.49

303.00 102.48 11.60 128.90 220.68 153.79 192.90 247.48 80.15 272.00 40.28 192.00

296.50 100.30 11.31 125.60 211.50 151.00 189.55 243.00 75.86 266.75 36.46 183.27

Close Chg 299.71 101.46 11.45 126.50 220.67 152.65 190.96 245.39 80.15 269.69 38.28 183.62

3.64 1.92 0.20 0.56 10.49 -0.51 1.81 2.17 3.81 3.69 -0.09 -4.87

Close Change 1,354.40 6.18 Listed cap Market cap 65,194.15 mn 1,066,083.88 mn Payout (%) Div Yield (%) 68.56 6.08 Last 60 days High Low

Volume 746409 2079146 2315403 179129 662966 529524 907806 1810427 65466 742517 35885 96616

374.20 102.48 12.87 137.60 230.84 154.25 214.10 251.24 85.90 289.45 40.28 244.00

% Change 0.46 5-Day High 1,354.40 5-Day Low 1,331.47

2009 Div BR (%) (%)

287.99 250 73.47 9.62 106.00 32.17 100B 183.25 125 133.00 82.5 168.70 130 20B 213.17 180 48.26 233.10 50 27.32 183.27 330 -

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

20 20B -

CHEMICALS

Open 723.99 Turnover 32,380 P/E (x) 5.66 Company

Paid up Cap(mn)

Pak Int Cont.Terminal XD 1092 PNSC XD 1321

High Low 751.07 710.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.44 25.53

Close 747.52 Listed cap 3,242.17 mn Payout (%) 11.08

Change 23.53 Market cap 13,147.32 mn Div Yield (%) 1.96

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

8.81 41.36

68.42 38.98

71.84 38.90

67.25 38.00

71.84 3.42 38.05 -0.93

27176 5204

87.86 41.00

60.05 34.50

Company

Paid up Cap(mn)

Agritech Limited Biafo Ind XD BOC (Pak) Clariant Pak Dawood Hercules Descon Chemical Descon Oxychem Ltd. Dewan Salman Engro Corporation Ltd Engro Polymer Fatima Fertilizer Fauji Fertilizer Fauji Fert. Bin Qasim Ghani Gases Ltd ICI Pakistan Ittehad Chemical XD Lotte Pakistan Mandviwala Nimir Ind Chemical Shaffi Chemical Sitara Chem Ind XDXB Sitara Peroxide Wah-Noble XD

PE

Open

High

Low

3924 9.54 22.00 200 4.53 40.04 250 10.66 79.81 273 5.56 160.25 1203 7.84 171.00 1996 2.25 1020 4.30 3663 1.56 3277 9.12 176.23 6635 - 13.70 22000 9.91 6785 7.42 109.29 9341 5.77 30.43 725 9.28 12.28 1388 7.69 128.37 360 6.15 26.49 15142 3.62 10.25 74 1.70 1106 78.50 1.59 120 2.08 2.50 214 8.87 108.99 551 13.16 11.11 90 4.56 38.19

22.99 41.90 83.80 162.50 172.95 2.59 5.05 1.70 179.40 14.19 10.10 109.95 30.90 12.60 131.40 26.69 10.72 2.00 1.65 2.89 110.79 12.11 39.25

21.54 39.95 83.80 157.00 170.00 2.36 4.50 1.56 176.65 13.50 9.85 108.60 30.50 12.20 128.25 25.65 10.28 0.80 1.57 2.50 107.26 12.11 37.75

Close Chg 21.56 41.70 83.80 158.06 170.05 2.46 4.83 1.63 177.92 13.60 10.00 109.02 30.60 12.25 129.10 25.94 10.43 1.37 1.57 2.76 108.18 12.11 38.50

-0.44 1.66 3.99 -2.19 -0.95 0.21 0.53 0.07 1.69 -0.10 0.09 -0.27 0.17 -0.03 0.73 -0.55 0.18 -0.33 -0.02 0.26 -0.81 1.00 0.31

Close 1,200.05 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 8188 740 11100 17083 10566 303874 1609868 743134 1382342 1432593 2664798 523390 2157419 38951 884439 123 15917144 375330 382573 31731 8500 31445 2164

Change 3.59 Market cap 269,345.37 mn Div Yield (%) 6.47

26.49 41.90 83.80 174.00 185.88 2.98 5.20 2.21 191.80 15.20 12.46 112.70 30.90 13.85 131.40 34.12 10.72 3.24 1.74 3.80 128.01 12.11 48.00

% Change 0.30 5-Day High 1,200.05 5-Day Low 1,180.92

2009 Div BR (%) (%)

2010 Div BR (%) (%)

21.15 31.64 40 45 66.90 90 15 154.27 125 155.38 40 10B 20 1.78 3.20 1.28 165.60 6010B 40R 20 10.62 - 27.5R 9.02 102.96 131.5 10B 75 26.59 40 - 17.5 7.41 109.50 80 55 21.00 15 5 6.75 5 0.80 1.16 2.00 104.56 75 25 7.67 37.00 50 50

5B -

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,147.10 Turnover 272,518 P/E (x) 5.86

High Low 1,169.98 1,128.95 Total cos Defaulter cos P/BV (x) ROE (%) 0.44 7.47

Close 1,140.72 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Century Paper 707 Pak Paper ProductXDXB 50 Security Paper 411

8.17 4.81

18.52 43.15 40.01

18.99 43.48 40.70

17.55 41.12 40.69

17.92 -0.60 42.47 -0.68 40.69 0.68

262456 8202 1860

Company

Change -6.38 Market cap 3,161.14 mn Div Yield (%) 4.31

Last 60 days High Low 22.70 62.85 50.40

17.31 38.61 38.10

% Change -0.56 5-Day High 1,147.10 5-Day Low 1,120.95

2009 Div BR (%) (%)

2010 Div BR (%) (%)

- 425R 20 50 -

25 33.33B 50 -

Open 1,123.44 Turnover 395,647 P/E (x) 4.02 Paid up Cap(mn)

PE

Open

Agriautos Ind XD 144 4.98 68.00 Atlas Battery 101 5.79 153.69 Atlas Honda 626 8.00 120.97 Dewan Motors 890 1.48 General Tyre XD 598 6.64 25.24 Ghandhara Nissan 450 4.53 Ghani Automobile Ind 200 7.16 4.05 Honda Atlas Cars 1428 - 12.17 Indus Motors 786 5.35 233.78 Pak Suzuki 823 12.00 75.90 Sazgar EngineeringXDXB 150 4.00 21.04 Transmission 117 1.78 1.80

Open 931.08 Turnover 494,641 P/E (x) 3.06 Company

Paid up Cap(mn)

Crescent Steel Dost Steels Ltd Huffaz Pipe International Ind

565 675 555 1199

Siddiqsons Tin XD

PE

Open

High

High Low 953.52 924.84 Total cos Defaulter cos P/BV (x) ROE (%) 1.01 33.10 Low

3.39 5.55 4.58

25.07 3.16 12.87 47.12

25.25 3.30 13.10 47.98

24.90 3.15 12.89 46.50

785 10.31

8.25

9.25

8.50

Close Chg 25.00 3.15 12.93 47.04

Close 937.93 Listed cap 3,596.11 mn Payout (%) 30.91

Last 60 days High Low

Volume

% Change 0.74 5-Day High 938.25 5-Day Low 929.44

2009 Div BR (%) (%)

High

High Low 1,141.28 1,105.33 Total cos Defaulter cos P/BV (x) ROE (%) 1.02 25.35 Low

Close Chg

51278 143569 6040 156379

29.10 3.39 16.75 70.71

23.75 1.65 12.25 45.60

-

30B -

30 40

20B

9.07 0.82

137374

10.80

8.00

10

-

7.5

-

CONSTRUCTION AND MATERIALS

69.50 68.00 68.15 0.15 155.50 151.50 153.44 -0.25 121.90 114.93 114.94 -6.03 1.50 1.47 1.49 0.01 24.41 24.25 24.25 -0.99 4.64 4.31 4.32 -0.21 4.80 4.25 4.58 0.53 12.20 11.90 12.09 -0.08 238.68 230.50 234.30 0.52 76.40 74.51 75.37 -0.53 21.99 21.05 21.45 0.41 2.68 1.75 1.78 -0.02

Open 1,482.95 Turnover 130,360 P/E (x) 30.93 Company Ansari Sugar Chashma Sugar Habib Sugar Habib-ADM Ltd XD J D W Sugar Mehran Sugar Mirza Sugar National Foods XD Noon Pakistan XD Pangrio Sugar Quice Food S S Oil Sakrand Sugar Shahmurad Sugar Shakarganj Mills Tandlianwala UniLever Pakistan Wazir Ali

Paid up Cap(mn) 244 287 600 200 490 143 141 414 48 109 107 57 223 211 695 1177 665 80

Close 1,118.41 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change -5.03 Market cap 40,933.16 mn Div Yield (%) 5.08

Last 60 days High Low

9595 78.39 14823 206.95 3693 122.51 270743 2.09 1520 27.40 37351 6.30 3509 5.55 15725 13.50 20716 287.00 10963 89.99 3016 27.85 3991 3.25

PE

Open

High

High Low 1,507.31 1,475.96 Total cos Defaulter cos P/BV (x) ROE (%) 9.37 30.30 Low

Close Chg

0.24 4.07 5.07 5.00 5.07 0.74 9.07 9.90 9.15 9.15 6.29 30.00 30.74 29.95 30.53 11.25 12.13 12.50 12.12 12.15 2.54 74.43 76.98 75.00 76.00 3.30 57.00 59.25 55.95 58.97 0.31 5.19 5.10 5.00 5.00 20.51 42.51 43.10 42.01 42.87 10.45 23.50 23.50 22.33 22.46 0.46 5.01 5.98 5.00 5.69 2.35 2.30 2.20 2.23 1.30 3.00 3.00 3.00 3.00 3.23 3.35 3.35 3.35 16.29 11.40 11.30 11.20 11.24 5.33 6.09 5.20 5.40 276.36 29.00 30.45 29.10 30.40 22.51 4000.02 4050.00 3963.07 4020.00 5.40 6.40 5.25 6.39

63.01 131.00 92.00 1.16 21.71 4.03 3.55 9.65 212.29 69.25 19.50 1.53

1.00 0.08 0.53 0.02 1.57 1.97 -0.19 0.36 -1.04 0.68 -0.12 0.00 0.12 -0.16 0.07 1.40 19.98 0.99

Close 1,493.10 Listed cap 11,335.33 mn Payout (%) 30.57

Company

High Low 1,013.77 975.28 Total cos Defaulter cos P/BV (x) ROE (%) 0.50 7.10

Close 992.98 Listed cap 54,792.74 mn Payout (%) 19.04

% Change -0.48 5-Day High 997.78 5-Day Low 962.48

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1828 866 182

5.04 -

3.30 63.51 17.50

3.40 63.94 18.50

3.08 63.15 17.50

3.25 -0.05 63.30 -0.21 17.54 0.04

42103 23616 97719

4.20 71.90 20.00

2.80 60.30 14.01

50 -

20B -

14 6.15 956 982 11.77

10.87 11.18 1.63

11.71 12.18 1.69

11.01 11.05 1.53

11.01 0.14 12.00 0.82 1.53 -0.10

1614 169077 6002

14.89 12.50 2.74

10.00 8.90 1.30

-

-

-

-

3574 3651 38.17 350 6933 15.42 1760 -

1.58 27.92 2.88 5.09 2.02

1.66 28.30 3.00 5.25 2.20

1.52 27.30 2.36 5.05 2.01

1.64 27.48 2.80 5.09 2.05

0.06 -0.44 -0.08 0.00 0.03

89246 3158143 11015 653802 12115

2.20 28.40 5.15 5.50 2.30

1.30 23.02 2.11 4.50 1.74

-

20R -

-

20R -

40

-

40

-

- 177R

-

-

-

-

-

Al-Abbas Cement Attock Cement XD Berger Paints Buxly Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Flying Cement Ltd Kohat Cement Lafarge Pakistan Cmt. Lucky Cement XD

1288 13126 3234

6.53

6.39 3.57 73.26

6.25 3.63 74.00

6.00 3.35 71.00

6.01 -0.38 3.40 -0.17 72.69 -0.57

194653 2997115 525318

6.80 3.65 74.00

5.50 2.60 62.60

Maple Leaf Cement Mustehkam Cement

5261 417

-

3.09 10.95

3.19 11.95

2.90 10.25

3.05 -0.04 11.95 1.00

265757 530

3.59 12.95

2.51 10.25

Pioneer Cement Safe Mix Concrete Shabbir Tiles

2228 200 361

-

8.11 6.89 7.70

8.40 7.00 8.60

8.05 6.61 7.70

8.37 0.26 6.62 -0.27 8.00 0.30

38772 511 1007

8.58 9.47 11.60

6.80 5.50 7.56

2009 Div BR (%) (%)

-

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

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 901.26 Turnover 192,569 P/E (x) 2.60 Company

Paid up Cap(mn)

PE

Open

High

High Low 922.89 900.65 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 43.91 Low

Close Chg

Cherat PapersackXDXB 115 4.17 41.70 43.78 43.05 43.78 ECOPACK Ltd 230 2.36 2.39 2.17 2.31 Ghani GlassXDXB 1067 4.42 47.25 48.44 47.98 48.10 MACPAC Films 389 2.63 3.00 2.56 2.56 Merit Pack 47 - 17.06 18.06 17.05 17.50 Packages Ltd 844 55.24 108.50 108.44 107.26 107.71 Siemens Engineering 82 10.25 1183.48 1242.65 1188.00 1242.65 Tri-Pack Films 300 7.57 104.99 105.74 103.75 103.80

Volume

Last 60 days High Low

3500 6.00 3.80 23500 11.40 8.00 13905 32.25 25.00 9501 16.98 11.90 2168 76.98 60.10 19637 59.25 48.50 748 5.70 3.55 6091 65.29 39.01 450 32.53 18.95 302 7.00 4.00 11500 3.40 1.60 2500 3.50 2.51 500 3.50 2.12 3000 11.90 7.40 18120 6.40 3.02 11604 35.50 22.45 1022 4220.00 3710.00 2234 8.74 4.75

Open 1,152.43 Turnover 638,883 P/E (x) 2.41 Paid up Cap(mn)

High Low 1,167.06 1,146.45 Total cos Defaulter cos P/BV (x) ROE (%) 0.26 10.64

PE

Open

High

Low

Diamond Ind 90 20.73 Gauhar Engineering Ltd 22 Pak Elektron 1174 3.06 Singer Pak 341 17.10 Tariq Glass Ind 231 2.83

14.89 0.20 14.41 17.15 17.08

13.89 0.45 14.88 18.15 17.50

13.89 0.45 14.25 17.40 17.06

Close Chg 13.89 0.45 14.30 18.13 17.35

-1.00 0.25 -0.11 0.98 0.27

Close 1,151.86 Listed cap 3,763.71 mn Payout (%) 6.27

Volume

Change 16.03 Market cap 34,084.22 mn Div Yield (%) 5.97

Last 60 days High Low

147633 51.05 34.00 10426 2.86 1.70 4955 61.99 45.75 1900 4.50 1.60 1087 20.70 11.81 4298 123.00 98.00 2816 1299.75 1040.01 19454 105.74 91.00

% Change 1.78 5-Day High 917.28 5-Day Low 889.63

2009 Div BR (%) (%)

2010 Div BR (%) (%)

30 32.5 900 100

20 25 900 -

10B -

25B 10B -

Volume 1004 2000 624370 4559 6950

Last 60 days High Low 19.70 0.50 15.95 24.14 19.12

9.20 0.15 12.17 16.51 14.50

Open 936.51 Turnover 20,868,897 P/E (x) 6.60 Paid up Cap(mn)

PE

Open

High

High Low 955.27 936.96 Total cos Defaulter cos P/BV (x) ROE (%) 0.57 8.64 Low

Close Chg

Close 946.42 Listed cap 47,070.70 mn Payout (%) 16.68

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Ados Pak AL-Ghazi Tractor

66 215

3.35 16.40 4.97 205.67

16.40 15.80 16.40 209.00 206.00 207.44

Bolan CastingXDXB Ghandhara Ind Hinopak Motor

104 213 124

- 48.75 2.06 13.54 - 118.00

Millat TractorsXDXB

366

6.33 482.98

0.00 1.77

Volume

Last 60 days High Low

(Colony) Thal Amtex Limited XD Artistic Denim XD Aruj Garments Azam TextileSPOT Azgard Nine Bannu Woolen XD Bata (Pak) Chenab Limited Colgate Palm Colony Mills Ltd D S Ind Ltd Dar-es-Salaam Dawood Lawrencepur Ellcot Spinning XD Gadoon Textile XD Ghazi Fabrics XD Gillette Pakistan Gulistan SpinningSPOT Gulistan TextileSPOT Gulshan SpinningSPOT Hira Txt. Mills Ltd.SPOT Ibrahim Fibres XD Idrees Textile XD Island Textile XD Khalid Siraj Kohat Textile Kohinoor Ind Kohinoor Textile Mehmood Textile XD Mohd Farooq Mukhtar Textile Nagina Cotton Nishat (Chunian)SPOT Nishat Mills XD Pak Synthetic Paramount Spin.SPOT Ravi Textile Reliance Weaving Rupali Poly XD Saif Textile Salfi Textile XD Sally TextileSPOT Samin Textile XR Sargoda Spinning XD Saritow Spinning Service Fabrics Service Ind Shadman Cot Shahpur Textile Shahtaj Textile XD Suraj Cotton XD Tata Textile XD Thal LimitedXDXB Treet Corp Tri-Star Poly Yousuf Weaving Zephyr Textile Ltd Zil Limited XD

56 0.70 2415 1.98 7.49 840 4.93 19.51 62 7.89 4.49 133 0.53 2.86 4493 293.50 11.37 76 0.98 11.19 76 4.48 514.95 1150 3.54 316 29.66 782.45 2442 2.78 3.12 600 1.71 80 58.33 3.00 514 45.76 40.00 110 1.71 19.40 234 1.07 39.00 326 0.99 2.60 192 52.78 67.86 146 1.54 6.40 190 1.60 18.89 185 1.83 9.70 716 1.35 4.79 3105 3.41 36.68 180 2.00 3.14 5 0.09 90.00 107 0.75 208 1.52 1.35 303 1.57 1455 2.86 5.40 150 1.47 55.10 189 1.00 145 0.49 187 1.13 15.49 1586 2.76 20.78 3516 6.21 51.71 560 7.72 6.14 158 1.60 10.25 250 4.56 1.85 308 0.74 9.49 341 4.39 33.50 264 1.32 3.94 33 0.14 28.50 88 0.33 5.12 134 6.03 312 0.52 1.81 133 0.61 1.50 158 0.30 120 6.26 231.57 176 2.18 10.95 140 0.97 0.70 97 - 16.41 180 1.05 30.00 173 0.18 19.67 307 3.98 91.12 418 10.24 47.30 215 0.53 400 7.12 1.10 594 3.40 53 3.10 46.76

% Change 1.68 5-Day High 1,557.72 5-Day Low 1,433.87

2009 Div BR (%) (%)

2010 Div BR (%) (%)

1601 8081

22.69 227.45

14.62 200.26

20 400

-

150

-

48.00 46.32 46.40 -2.35 13.99 13.05 13.07 -0.47 123.90 119.89 123.90 5.90

8859 82757 30543

51.99 19.50 142.00

36.10 11.29 108.11 17.15

20B -

25 -

10B -

501.98 485.08 493.50 10.52

553125

597.90

390.00

25B

650

25B

450

% Change 0.68 5-Day High 1,497.02 5-Day Low 1,477.71

2009 Div BR (%) (%)

2010 Div BR (%) (%)

35 40 40 35 15 458 -

40 0 12.5R 25 10B 12 12 178 -

25B 30B 25B 10B -

2009 Div BR (%) (%) -

10B 10B -

Volume

Change 9.91 Market cap 119,848.28 mn Div Yield (%) 2.53

Last 60 days High Low

1.25 1.25 1.25 0.55 7.90 7.26 7.40 -0.09 19.62 19.60 19.62 0.11 4.50 4.50 4.50 0.01 3.45 2.85 2.93 0.07 12.10 11.48 11.74 0.37 11.90 11.20 11.29 0.10 540.69 540.69 540.69 25.74 3.74 3.50 3.51 -0.03 800.00 743.33 790.14 7.69 3.10 3.00 3.00 -0.12 1.90 1.70 1.76 0.05 3.50 3.50 3.50 0.50 41.00 38.40 38.90 -1.10 20.19 18.40 20.14 0.74 40.90 39.49 40.07 1.07 3.60 3.00 3.40 0.80 71.25 71.25 71.25 3.39 7.39 6.70 7.00 0.60 19.79 17.89 18.84 -0.05 10.30 9.80 10.09 0.39 4.85 4.60 4.69 -0.10 37.00 36.00 36.89 0.21 3.50 3.20 3.50 0.36 94.50 94.50 94.50 4.50 0.77 0.77 0.77 0.02 1.20 0.52 1.20 -0.15 1.65 1.51 1.58 0.01 5.70 5.30 5.47 0.07 57.00 55.57 56.60 1.50 0.95 0.95 0.95 -0.05 0.70 0.26 0.52 0.03 14.97 14.51 14.97 -0.52 21.81 21.10 21.81 1.03 53.40 51.55 52.82 1.11 7.10 6.00 7.10 0.96 11.25 10.00 10.99 0.74 1.85 1.75 1.78 -0.07 9.95 9.00 9.71 0.22 34.95 34.95 34.95 1.45 3.90 3.57 3.88 -0.06 29.92 29.92 29.92 1.42 5.68 4.75 5.00 -0.12 6.55 5.75 6.52 0.49 2.50 1.60 1.99 0.18 2.40 2.19 2.20 0.70 0.48 0.40 0.40 0.10 243.14 238.99 243.14 11.57 11.95 9.95 11.95 1.00 1.00 0.70 0.70 0.00 16.90 15.80 16.38 -0.03 29.51 29.30 29.45 -0.55 20.25 18.67 18.68 -0.99 94.40 90.01 93.11 1.99 49.66 48.33 49.66 2.36 0.72 0.56 0.72 0.19 1.25 1.10 1.21 0.11 3.00 3.00 3.00 -0.40 47.50 46.00 46.33 -0.43

5000 3515901 2500 2000 44502 6378577 1242 8019 33841 3101 63601 220115 5000 1041 3290 3356 1490 2201 1753 658 27117 242547 6276 2498 160 1000 508 33721 53013 2825 149 14951 715 4007896 5280783 62885 37638 102840 81420 101 8142 1000 10051 14748 328 3005 1500 6824 300 1002 2607 16999 192122 204969 106424 4008 25845 3077 9426

2.00 20.45 24.05 6.70 3.45 12.80 14.00 560.00 4.66 800.00 4.50 2.49 4.30 50.35 25.45 48.30 5.00 73.00 8.13 24.84 10.30 4.88 39.00 5.35 95.32 1.99 1.95 1.97 6.30 74.50 1.82 0.99 17.50 21.81 53.40 7.90 11.25 4.69 12.00 36.75 5.44 29.92 6.20 8.69 2.50 2.99 1.17 243.14 15.00 1.98 21.90 37.50 21.42 114.99 49.66 1.36 1.90 4.99 48.75

0.70 6.71 17.55 3.50 1.35 8.55 7.50 436.00 2.93 615.00 2.23 1.44 2.50 37.08 17.21 33.80 1.11 57.50 5.00 17.89 5.31 2.52 34.05 2.56 74.40 0.18 0.46 1.01 4.00 55.10 0.35 0.25 12.00 14.64 40.81 5.16 6.00 1.38 6.91 31.35 2.01 20.50 2.74 5.02 0.31 1.01 0.12 176.00 8.00 0.25 14.75 29.30 14.00 88.60 37.20 0.26 0.73 1.50 33.00

PHARMA AND BIO TECH Change 25.76 Market cap 32,162.88 mn Div Yield (%) 16.84

20B 20B -

Total Assets (Rs in mn)

3,387.48

9.12

Total Equity (Rs in mn)

1,431.30

MA (100-day)

9.86

Revenue (Rs in mn)

2,639.94

MA (200-day)

10.45

Interest Expense

139.50

1st Support

8.65

Loss after Taxation

2nd Support

8.20

EPS 09 (Rs)

(124.85)

1st Resistance

9.40

Book value / share (Rs)

18.23

2nd Resistance

9.70

PE 10 E (x)

18.51

Pivot

8.95

PBV (x)

(1.590)

0.50

STPL closed up 0.82 at 9.07. Volume was 1,644 per cent above average (trending) and Bollinger Bands were 10 per cent narrower than normal. The company's profit after taxation stood at Rs38.152 million which translates into an Earning Per Share of Rs0.49 for the year ended FY10. STPL is currently 13.4 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 into STPL (mildly bullish). Trend forecasting oscillators are currently bearish on STPL.

Cherat Cement Company Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

60.22

Total Assets (Rs in mn)

4,743.51

MA (10-day)

11.00

Total Equity (Rs in mn)

2,268.40

MA (100-day)

10.43

Revenue (Rs in mn)

4,567.41

MA (200-day)

Interest Expense

114.36

1st Support

11.32

Profit after Taxation

159.29

2nd Support

10.62

11.32

EPS 09 (Rs)

1.667

1st Resistance

12.45

Book value / share (Rs)

23.73

2nd Resistance

12.88

PE 10 E (x)

Pivot

11.75

PBV (x)

0.51

CHCC closed up 0.82 at 12.00. Volume was 618 per cent above average (trending) and Bollinger Bands were 4 per cent narrower than normal. The company's loss after taxation stood at Rs13.755 million which translates into a Loss Per Share of Rs0.14 the year ended FY10. CHCC is currently 5.8 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into CHCC (mildly bullish). Trend forecasting oscillators are currently bullish on CHCC.

BankIslami Pakistan Limited

% Change -0.05 5-Day High 1,152.43 5-Day Low 1,137.44 2010 Div BR (%) (%) 17.5

10B -

Performance of SR Personal Goods Index

Performance of SR Pharma and Bio Tech Index

Close 1,557.72 Listed cap 1,336.62 mn Payout (%) 131.49

90 100 20 150 10 -

20B 30B 20B -

PERSONAL GOODS

INDUSTRIAL ENGINEERING High Low 1,583.32 1,535.45 Total cos Defaulter cos P/BV (x) ROE (%) 2.97 38.02

40 100 80 100 5 2

Change -0.57 Market cap 5,494.26 mn Div Yield (%) 2.60

Performance of SR Industrial Engineering Index Open 1,531.96 Turnover 685,069 P/E (x) 7.81 Company

2.08 -0.05 0.85 -0.07 0.44 -0.79 59.17 -1.19

Close 917.28 Listed cap 3,043.31 mn Payout (%) 15.55

2010 Div BR (%) (%)

49.08

MA (10-day)

Performance of SR Household Goods Index

Company

Change -4.80 Market cap 71,395.57 mn Div Yield (%) 2.71

2009 Div BR (%) (%)

Change 10.15 Market cap 192,196.12 mn Div Yield (%) 0.99

Performance of SR Construction and Materials Index Open 997.78 Turnover 8,287,871 P/E (x) 7.04

% Change -0.45 5-Day High 1,123.44 5-Day Low 1,089.88

RSI (14-day)

HOUSEHOLD GOODS

2010 Div BR (%) (%)

-0.07 -0.01 0.06 -0.08

-

FOOD PRODUCERS

Company

Change 6.85 Market cap 8,933.71 mn Div Yield (%) 10.11

40 15

Fundamental Highlights As on Jun 30, 2009

Technical Analysis

Performance of SR Food Producers Index

INDUSTRIAL METALS AND MINING Performance of SR Industrial Metals and Mining Index

20B -

2010 Div BR (%) (%)

Performance of SR Automobile and Parts Index

Company

High Low 1,214.16 1,193.66 Total cos Defaulter cos P/BV (x) ROE (%) 2.64 35.00

30

Siddiqsons Tin Plate Limited

% Change 3.25 5-Day High 747.52 5-Day Low 690.14

AUTOMOBILE AND PARTS

Performance of SR Chemicals Index Open 1,196.46 Turnover 25,568,830 P/E (x) 7.54

2009 Div BR (%) (%)

Alert ! Unusual Movements

Open 872.20 Turnover 257,162 P/E (x) 6.49 Company Abbott (Lab) Ferozsons (Lab) XB GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka PakSPOT Searle Pak XD

Paid up Cap(mn) 979 250 1707 165 200 100 306

High Low 895.05 866.73 Total cos Defaulter cos P/BV (x) ROE (%) 1.45 22.31

PE

Open

High

Low

8.31 6.72 13.47 6.80 18.49 7.25 5.32

94.16 87.29 73.00 24.33 8.13 32.00 61.21

95.00 89.85 75.99 25.05 8.67 33.60 63.00

93.10 88.50 72.55 24.11 8.00 32.50 60.56

Close 884.49 Listed cap 3,904.20 mn Payout (%) 44.54

Close Chg

Volume

94.82 89.00 74.61 24.53 8.32 32.50 62.07

5000 401 39009 13494 739 1250 197179

0.66 1.71 1.61 0.20 0.19 0.50 0.86

77.00 85.60 65.00 22.10 6.10 27.50 53.36

2010 Div BR (%) (%)

30 20 20 7.5 20 120 115 15B 5 7.5 35 70 10 - 10B 10 - 10B 10 - 10B 10 20B 10 20 10 50 4050.2257B 60 - 20SD - 50R 15 20 25 45R 12.5 - 10B 10 10B - 25SD 40 40 25 10 - 100R 5 200 20 45 15 50 25 20 20B 80 20B 4 40 10B 35 -

Change 12.28 Market cap 29,456.55 mn Div Yield (%) 6.86

Last 60 days High Low 96.40 124.00 82.99 25.79 8.90 33.60 64.19

2009 Div BR (%) (%)

% Change 1.06 5-Day High 946.42 5-Day Low 914.43

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

20B 15B

% Change 1.41 5-Day High 884.49 5-Day Low 851.91 2010 Div BR (%) (%) 20 30

20B -

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

61.26

Total Assets (Rs in mn)

34,286.77

MA (10-day)

3.20

Total Equity (Rs in mn)

4,740.29

MA (100-day)

3.29

Revenue (Rs in mn)

2,193.89

MA (200-day)

4.31

Interest Expense

1,222.17

1st Support

3.11

Loss after Taxation

(478.94)

2nd Support

2.80

EPS 09 (Rs)

1st Resistance

3.66

Book value / share (Rs)

2nd Resistance

3.90

PE 10 E (x)

Pivot

3.35

PBV (x)

(0.907) 8.98 0.39

BIPL closed up 0.30 at 3.47. Volume was 2,716 per cent above average (trending) and Bollinger Bands were 44 per cent narrower than normal. The company's loss after taxation stood at Rs16.13 million which translates into a Loss Per Share of Rs0.031 for the half year of current calendar year (1HCY10). BIPL is currently 19.5 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into BIPL (bullish). Trend forecasting oscillators are currently bullish on BIPL.

Soneri Bank Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

65.64

Total Assets (Rs in mn)

95,310.27

MA (10-day)

6.36

Total Equity (Rs in mn)

7,803.20

MA (100-day)

6.58

Revenue (Rs in mn)

9,337.28

MA (200-day)

7.87

Interest Expense

6,602.78

1st Support

6.40

Profit after Taxation

2nd Support

6.29

EPS 09 (Rs)

1st Resistance

6.71

Book value / share (Rs)

2nd Resistance

6.91

PE 10 E (x)

Pivot

6.60

PBV (x)

145.35 0.29 15.55 0.42

SNBL closed up 0.17 at 6.58. Volume was 1,007 per cent above average (trending) and Bollinger Bands were 17 per cent wider than normal. The company's loss after taxation stood at Rs186.353 million which translates into a Loss Per Share of Rs0.32 for the half year of current calendar year (1HCY10). SNBL is currently 16.4 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into SNBL (bullish). Trend forecasting oscillators are currently bullish on SNBL.

BOOK CLOSURES Company

From

To

(TFC) Soneri Bank Asim Textile Mills East West Life Assurance Fatima Enterprises Idrees Textile Mills J.A Textile Mills Mubarak Textile Mills Husein Industries Khalid Siraj Tex Mills Kohinoor Energy Leather Up Otsuka Pakistan S.S Oil Mills Atlas Bank D S Industries Gulshan Spinning Mills Masood Textile Mills Nishat Chunian Power Paramount Spinning Mills Pervez Ahmad Securities

26-Oct 26-Oct 26-Oct 26-Oct 26-Oct 26-Oct 26-Oct 27-Oct 27-Oct 27-Oct 27-Oct 27-Oct 27-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct

04-Nov 01-Nov 01-Nov 04-Nov 03-Nov 01-Nov 05-Nov 02-Nov 03-Nov 02-Nov 02-Nov 02-Nov 02-Nov 05-Nov 02-Nov 30-Oct 05-Nov 03-Nov 30-Oct 02-Nov

D/B/R 10R 10 15(F) 15(i) 10,20B 15 10,10B -

Spot AGM/Date 18-Oct 18-Oct 19-Oct 20-Oct 20-Oct 20-Oct -

30-Oct 29-Oct 30-Oct 30-Oct 30-Oct 30-Oct 27-Oct 30-Oct 06-Nov 30-Oct 29-Oct 30-Oct 30-Oct 29-Oct 30-Oct

INDICATIONS # Extraordinary General Meeting

OTHER SECTORS Symbols

Open

TRG Pakistan Ltd. 4.35 Murree BreweryXDXB 74.4 Shezan Internat.XD 93.85 Grays of Cambr.XD 50.16 Lakson Tobacco 342.53 Pak Tobacco 111.5 Shifa Int.Hosp.XD 30.89 Eye Television 21.6 P.I.A.C.(A) 2.24 AKD Capital 62.01 Pace (Pak) Ltd. 3.2 Netsol Technol.XD 18.35 Pak Telephone 1.89

High 4.49 76.5 97.9 49.5 346.9 114.2 30.99 21.25 2.44 63.5 3.46 18.84 2.4

Low Close 4.26 75 93 48.07 342.5 112.01 29.5 21 2.2 58.91 3.25 18.4 1.65

4.3 75 97.9 48.2 342.65 112.01 30.98 21.01 2.21 58.92 3.36 18.52 1.81

Change -0.05 0.6 4.05 -1.96 0.12 0.51 0.09 -0.59 -0.03 -3.09 0.16 0.17 -0.08

Vol 2198948 8626 495 890 651 4289 5131 600 41134 11368 3323380 467612 25705


7

Tuesday, October 26, 2010

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,148.30 Turnover 4,211,063 P/E (x) 6.22 Paid up Cap(mn)

Company

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

78 37740 3000 8606 6175

High Low 1,176.25 1,141.84 Total cos Defaulter cos P/BV (x) ROE (%) 0.80 12.84

PE

Open

High

Low

Close Chg

4.56 9.30 1.05 -

93.00 19.31 2.53 2.80 3.86

95.00 19.76 2.62 2.89 4.25

92.55 19.27 2.43 2.71 3.81

92.55 19.52 2.44 2.77 3.90

Close 1,156.57 Listed cap 50,077.79 mn Payout (%) 62.56

Last 60 days High Low

Volume

-0.45 0.21 -0.09 -0.03 0.04

224 2471322 570918 1168599 2837836

Change 8.27 Market cap 79,918.08 mn Div Yield (%) 10.06

120.61 20.22 2.99 3.14 6.13

91.00 17.32 1.80 2.30 3.60

% Change 0.72 5-Day High 1,156.57 5-Day Low 1,129.75

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

-

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

-

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

204 6.64 369 4.99 279 5.80 457 6.18 1250 36.79 400 2.68 718 14.28 791 9.92 3000 250 1.43 350 87.50 303 5.04 253 1.75 400 1.45

11.95 33.80 50.91 11.24 46.21 10.95 81.00 56.92 15.75 6.07 2.70 9.25 7.01 6.02

Paid up Cap(mn)

Company

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

PE

Open

High

Low

198 11572 6.34 1560 7932 1695 6.00 8803 6.94 3673 3541 96.50 178 191 3.47 1367 150 -

0.93 34.19 1.59 2.25 24.25 39.34 12.35 13.30 0.97 19.20 2.24 0.90

1.07 34.49 1.63 2.30 25.25 40.25 12.62 13.79 0.71 19.49 2.27 0.90

0.90 34.13 1.54 2.17 24.00 39.48 12.20 13.20 0.71 19.00 2.21 0.84

Close 1,192.09 Listed cap 95,369.29 mn Payout (%) 104.13

Change 5.25 Market cap 98,333.81 mn Div Yield (%) 8.19

% Change 0.44 5-Day High 1,192.09 5-Day Low 1,170.85

Close Chg

Volume

Last 60 days High Low

2009 Div BR (%) (%)

0.90 34.25 1.54 2.21 24.34 40.12 12.50 13.51 0.71 19.49 2.21 0.86

4113 630981 46436 763921 28968 782821 2184202 6884483 3000 1001 111604 1260

1.45 37.24 2.20 2.63 26.50 44.30 12.90 13.80 1.69 23.49 3.19 1.58

33.5 45 64.5 20 3

-0.03 0.06 -0.05 -0.04 0.09 0.78 0.15 0.21 -0.26 0.29 -0.03 -0.04

0.51 32.75 0.70 1.92 22.75 38.35 9.50 9.25 0.23 18.70 2.05 0.33

31R -

2010 Div BR (%) (%)

Open 887.16 Turnover 16,684 P/E (x) 88.09

Paid up Cap(mn)

Company Sui North Gas Sui South GasXDXB

High Low 1,769.66 1,660.74 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 11.41

Close 1,724.31 Listed cap 12,202.80 mn Payout (%) 66.79

Change 21.23 Market cap 36,975.21 mn Div Yield (%) 6.22

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 18.26 8390 3.63

31.69 22.90

32.48 24.04

30.50 22.55

31.05 -0.64 23.75 0.85

575888 857760

33.40 30.70

% Change 1.25 5-Day High 1,724.31 5-Day Low 1,624.75

2009 Div BR (%) (%)

25.00 16.00

-

-

2010 Div BR (%) (%) 15

25B

BANKS Performance of SR Banks Index Open 1,023.90 Turnover 37,793,744 P/E (x) 7.26 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 5.42 55.53 Askari Bank 6427 6.62 15.64 Atlas Bank 5001 1.97 Bank Alfalah 13492 13.32 9.32 Bank AL-Habib 7322 6.85 32.19 Bank Of Khyber 5004 3.26 3.35 Bank Of Punjab 5288 8.65 BankIslami Pak 5280 3.17 Faysal Bank 6091 3.35 14.36 Habib Bank Ltd 10019 6.70 104.38 Habib Metropolitan Bank 8732 6.36 20.48 JS Bank Ltd 6128 2.40 KASB Bank Ltd 9509 2.50 MCB Bank Ltd 7602 9.54 203.95 Meezan Bank 6983 8.02 15.40 Mybank Ltd 5304 2.20 National Bank 13455 5.69 67.69 NIB Bank 40437 2.90 Royal Bank Ltd 17180 6.42 Samba Bank 14335 2.03 Silkbank Ltd 26716 12.91 2.90 Soneri Bank 6023 6.41 Stand Chart Bank 38716 3.36 6.61 Summit Bank Ltd 5000 2.97 United Bank Ltd 12242 6.51 54.43

High

High Low Close 1,047.83 1,018.99 1,032.82 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.98 13.45 34.35 Low

Close Chg

Volume

56.00 55.50 55.80 0.27 16.20 15.80 16.02 0.38 2.04 1.91 1.91 -0.06 10.19 9.40 9.99 0.67 32.80 31.50 31.79 -0.40 3.59 2.76 3.26 -0.09 9.15 8.55 9.04 0.39 3.59 3.04 3.47 0.30 14.85 14.34 14.52 0.16 105.99 104.00 104.11 -0.27 21.50 20.50 21.50 1.02 2.77 2.34 2.57 0.17 2.55 2.48 2.49 -0.01 206.60 203.75 204.61 0.66 15.50 15.10 15.16 -0.24 2.20 2.10 2.19 -0.01 69.18 67.16 67.81 0.12 3.00 2.88 2.92 0.02 6.85 6.55 6.75 0.33 2.09 1.97 2.03 0.00 2.90 2.81 2.84 -0.06 6.80 6.49 6.58 0.17 6.98 6.75 6.85 0.24 3.15 2.96 3.13 0.16 55.45 54.12 55.30 0.87

Change 8.91 Market cap 628,159.48 mn Div Yield (%) 4.73

Last 60 days High Low

66661 59.70 2189240 16.98 11509 2.84 11210156 10.25 135716 33.75 637 3.99 4110683 10.70 2458475 3.69 132938 15.24 283473 109.10 179039 21.99 764176 2.90 19767 3.70 747135 214.99 29271 15.95 339980 2.79 7933229 73.89 1130116 3.43 83473 12.29 138533 2.65 4215133 3.30 746750 6.99 14403 8.50 353503 3.90 853250 59.75

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

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

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

% Change 0.87 5-Day High 1,032.82 5-Day Low 996.53

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 708.18 Turnover 2,259,690 P/E (x) 11.76 Paid up Cap(mn)

Company

Adamjee Insurance XD

High Low 725.77 705.31 Total cos Defaulter cos P/BV (x) ROE (%) 0.61 5.20

Close 711.32 Listed cap 11,111.34 mn Payout (%) 79.54

Change 3.13 Market cap 44,505.99 mn Div Yield (%) 6.76

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 13.52

74.52

76.25

73.85

74.38 -0.14

900112

89.50

63.05

2009 Div BR (%) (%) 30

10B

% Change 0.44 5-Day High 711.32 5-Day Low 691.74 2010 Div BR (%) (%) 10

-

300 2906 1310 1920 19603 12500 601 2500 1047443 3926 219264 26765 18901 1600

12.25 34.84 64.90 11.99 54.50 13.89 84.00 59.99 18.65 7.49 4.16 10.30 10.00 6.31

8.45 27.10 47.37 9.42 34.76 10.04 66.02 52.21 12.50 5.06 1.66 8.00 6.00 4.02

40 20 40 35 35 30 30 5 20 -

10B 25B 8.7B 20B 25B 15B 20B 16B

10 10 -

UPTO 100 VOLUME

25R 10B 20B -

High Low 878.85 863.36 Total cos Defaulter cos P/BV (x) ROE (%) 3.39 3.85

Close 871.21 Listed cap 2,290.72 mn Payout (%) 355.53

Change -15.95 Market cap 10,226.77 mn Div Yield (%) 4.04

Symbols

High

Low

Close Chg

Volume

Last 60 days High Low

2009 Div BR (%) (%)

EFU Life Assurance XB

850 42.08

78.13

78.00

76.30

77.43 -0.70

16242

82.99

51.25

5513.33B

-

-

New Jub Life Insurance

627 52.95

43.45

42.80

42.10

42.36 -1.09

442

45.20

34.50

10

2010 Div BR (%) (%) -

-

-

FINANCIAL SERVICES Performance of SR Financial Services Index Open 382.58 Turnover 14,856,772 P/E (x) 0.47 Paid up Cap(mn)

AMZ Ventures Arif Habib Invest. XB Arif Habib Limited XB Arif Habib Securities Arpak Int Dawood Equities First National Equity IGI Investment Bank Invest and Fin Sec XD Invest Bank Ist Cap Securities XB Ist Dawood Bank Jah Siddiq Co JOV and CO JS Global Cap XD JS Investment KASB Securities Orix Leasing Pervez Ahmed Sec

High Low 400.34 381.76 Total cos Defaulter cos P/BV (x) ROE (%) 0.18 37.22

PE

Open

High

Low

225 360 7.94 450 7.07 3750 2.46 40 4.33 250 575 2121 12.56 600 2.70 2849 3166 1.60 626 0.33 7633 508 500 1000 26.17 1000 821 4.04 775 -

0.59 16.99 27.85 24.97 13.00 1.99 8.50 2.00 7.67 0.68 3.80 1.94 10.25 2.42 26.93 6.21 4.00 5.53 1.73

0.70 17.89 28.95 25.70 12.00 1.99 9.48 2.20 7.74 0.78 4.15 2.10 10.72 2.98 28.27 6.61 4.20 5.55 1.98

0.53 16.60 27.90 24.80 12.00 1.60 7.50 2.00 7.06 0.62 3.85 1.94 10.35 2.50 28.27 6.25 4.00 5.08 1.80

Close Chg 0.59 17.00 28.36 24.95 12.00 1.81 7.80 2.01 7.74 0.65 3.90 2.00 10.44 2.72 28.27 6.28 4.09 5.50 1.94

0.00 0.01 0.51 -0.02 -1.00 -0.18 -0.70 0.01 0.07 -0.03 0.10 0.06 0.19 0.30 1.34 0.07 0.09 -0.03 0.21

Close 387.17 Listed cap 30,336.44 mn Payout (%) 4.60

Volume 88157 37576 207352 3604008 1000 12741 1005 229949 503 17205 169522 137627 7802711 1533279 19072 643153 73237 5608 272919

Change 4.58 Market cap 27,645.07 mn Div Yield (%) 9.71

% Change 1.20 5-Day High 387.17 5-Day Low 365.43

Last 60 days High Low

2009 Div BR (%) (%)

1.10 20.99 45.74 34.99 19.37 2.96 11.75 2.30 9.00 1.09 5.29 2.84 14.40 5.80 40.99 7.91 5.25 5.95 2.57

15 25B 30 - 11.5 - 10B -243.778B 10 150 -231.08R -

0.42 13.00 24.62 20.90 4.00 1.55 6.86 1.17 6.70 0.44 2.54 1.17 8.80 1.96 24.25 5.10 3.20 3.66 1.35

2010 Div BR (%) (%) 20B 20B 10B -

EQUITY INVESTMENT INSTRUMENTS

Paid up Cap(mn)

Company

1st Fid Leasing AL-Meezan Mutual F.XD AL-Noor Modaraba XD Atlas Fund of Funds B R R Guardian Mod. Constellation Modaraba Crescent St Mod. XD Equity Modaraba First Capital Mutual F. First Dawood Mutual F. Golden Arrow XD H B L Modaraba XD Habib Modaraba JS Growth Fund JS Value Fund Meezan Bal. Fund XD Mod Al-Mali Nat Bank Modaraba XD Pak Prem Fund Pak Strat Fund Paramount Mod. XD PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund XD Prud Modaraba 1st XD Punjab Modaraba Stand Chart Mod. XD Tri-Star 1st Modaraba U D L Modaraba XD

PE

264 1375 5.21 210 4.33 525 2.55 780 2.84 65 4.55 200 1.93 524 300 4.84 581 760 3.05 397 4.61 1008 5.18 3180 36.25 1186 9.29 1200 5.31 184 250 6.89 1698 3.79 3000 5.51 59 7.14 1000 1.63 2835 5.26 2841 4.22 872 2.61 340 7.00 454 4.22 212 3.47 264 2.81

Open 1.33 6.24 2.16 3.00 1.24 1.11 0.80 1.05 4.25 1.73 2.79 5.35 5.99 3.01 2.95 5.50 1.18 6.98 7.93 7.02 7.72 5.60 8.15 3.78 0.93 1.49 8.89 1.98 5.44

High

High Low 1,084.45 1,043.42 Total cos Defaulter cos P/BV (x) ROE (%) 0.27 4.09 Low

1.48 6.30 2.79 3.48 1.36 1.50 0.90 1.20 4.75 1.73 2.99 5.21 6.09 3.10 2.90 5.52 2.18 7.70 8.00 7.14 8.00 5.69 8.34 3.98 0.99 1.55 8.95 1.74 5.40

Close Chg

1.33 6.21 2.50 3.00 1.25 1.40 0.68 1.15 4.24 1.56 2.80 5.14 5.97 2.65 2.31 5.52 0.95 7.00 7.95 7.05 8.00 5.55 8.02 3.60 0.90 1.44 8.53 0.98 4.85

1.45 6.25 2.60 3.32 1.25 1.50 0.77 1.15 4.50 1.73 2.81 5.21 6.01 2.90 2.60 5.52 0.99 7.23 7.96 7.05 8.00 5.61 8.20 3.71 0.99 1.47 8.60 1.32 5.40

0.12 0.01 0.44 0.32 0.01 0.39 -0.03 0.10 0.25 0.00 0.02 -0.14 0.02 -0.11 -0.35 0.02 -0.19 0.25 0.03 0.03 0.28 0.01 0.05 -0.07 0.06 -0.02 -0.29 -0.66 -0.04

Close 1,060.37 Listed cap 29,771.58 mn Payout (%) 104.19

Volume 1010 12153 16100 13998 409 3036 300790 445 183372 325619 48985 4480 33301 3298757 738492 7000 8266 16000 352511 108516 1026 28640 122217 32448 101020 11002 333 18102 4302

2.24 7.25 3.44 4.50 1.85 2.99 1.10 1.50 4.75 2.00 3.88 6.80 7.45 3.70 3.98 7.00 2.18 8.45 9.86 8.10 9.45 6.49 10.55 5.00 1.20 2.00 10.99 7.12 6.99

1.01 5.85 2.10 2.53 0.90 0.90 0.16 0.76 0.99 1.36 2.32 4.80 5.56 2.65 2.31 5.30 0.56 6.15 7.00 6.01 6.55 4.00 7.60 3.50 0.70 0.57 7.75 0.50 4.71

Low

Close

2.00 29.08 5.50 3.51 132.50 49.08 2.30 0.55 21.85 1925.00 4.30 1.08 2.99 1549.00 0.60 23.80 35.67 21.50 54.00 2.20 6.00 3.80 45.37 13.85 0.67 9.70 0.71 13.38 389.99 120.00 2.35 299.00 2.39 23.52 9.25 113.00 44.60 5.30 5.10 149.90 11.81 10.60 1.00 15.00 1.57 232.21 26.94 30.00 185.00 47.00 29.00 21.03 31.85 94.30 42.70 47.18 69.00 25.02 7.13 20.22 2.95 51.89 70.99 53.39

2.00 29.08 5.50 5.00 132.54 49.08 2.84 0.55 21.85 1954.01 4.30 1.22 2.99 1549.50 0.94 23.80 38.29 21.82 54.00 2.20 6.75 3.80 45.37 13.85 0.73 9.70 0.71 13.38 389.99 120.00 2.68 299.50 2.39 24.39 9.25 113.00 44.60 5.30 5.10 149.90 11.81 11.01 1.00 15.00 1.57 232.21 26.94 30.00 185.00 47.00 29.00 21.03 31.85 94.30 42.70 47.18 69.00 25.02 7.13 20.22 2.95 51.89 70.99 53.61

Change

Vol

0.00 1.38 1.00 0.97 -2.25 -2.58 0.29 -0.05 -0.25 11.91 1.00 -0.78 0.52 -0.50 0.18 0.00 0.75 0.95 0.15 0.20 0.66 -1.00 2.16 -0.05 0.05 0.05 -0.05 0.86 13.11 4.82 0.20 -0.50 0.25 -0.32 0.15 1.50 0.81 0.06 -0.55 1.90 0.21 0.01 0.00 0.00 0.14 8.22 0.00 1.39 4.50 1.50 1.25 -0.01 0.91 4.25 0.70 2.19 0.50 1.19 -0.99 0.98 -1.00 2.41 3.22 -2.59

100 100 100 96 90 71 64 52 50 41 39 29 20 20 16 15 14 13 12 11 11 11 10 10 7 6 5 5 4 4 3 3 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS Symbols

Open

High

Low

Close

52.02

54.00

52.25

53.37

1.35 2,387,500

NML-OCT

52.02

53.50

51.75

52.81

0.79 679,000

27.49

-0.42 514,500

67.80

69.19

67.25

67.82

0.02 362,500

204.17

206.75

204.25

204.59

0.42 315,000

ANL-NOV

11.40

12.10

11.60

11.85

ANL-OCT

11.40

12.00

11.50

11.72

0.32 251,500

POL-OCTB

243.97

247.80

242.75

245.85

1.88 210,000

ENGRO-OCT 176.76

179.50

177.00

178.15

1.39 190,000

68.39

0.59 185,000

2010 Div BR (%) (%)

FFBL-OCT

30.45

30.85

30.50

30.58

0.13 158,000

POL-NOV

243.97

248.00

243.70

247.02

PSO-OCT

266.48

272.00

267.80

269.69

3.21 157,000

27.91

28.30

27.50

27.58

-0.33 138,500

PPL-OCT

189.14

192.89

190.00

191.34

2.20 120,500

MCB-NOV

204.17

207.00

204.50

205.00

PPL-NOV

189.14

193.00

190.50

191.23

2.09

58,500

LUCK-NOV

73.24

73.75

73.01

73.01

-0.23

55,000

AICL-OCT

74.80

76.20

74.00

74.76

-0.04

38,500

-

NBP-NOV

67.80

DGKC-NOV

LUCK-OCT

28.17

27.26

Vol

MCB-OCT

- 18.5 5 2.2 0 1.2 17 11 21 5 10 - 15.5 10 - 18.6 - 11.53 18 5 20 10 3 1 17 - 12.5

27.91

Change

NBP-OCT

2009 Div BR (%) (%) 5 20 10 15 16.5 10

High 2.00 29.08 5.50 5.00 132.75 49.08 2.90 0.63 22.00 1995.50 4.30 2.89 2.99 1550.00 1.29 23.80 39.41 21.91 54.99 2.45 6.75 5.00 45.37 13.85 0.84 9.70 0.71 13.38 394.00 120.00 2.68 305.00 2.39 24.39 10.10 113.00 45.95 6.20 6.35 149.90 12.49 11.01 1.00 15.00 1.60 234.44 26.94 30.00 185.00 47.00 29.00 21.03 31.85 94.30 42.70 47.18 69.00 25.02 7.13 20.24 2.95 51.90 70.99 53.61

NML-NOV DGKC-OCT

Change -2.59 Market cap 17,389.61 mn Div Yield (%) 27.48

Last 60 days High Low

2.00 27.70 4.50 4.03 134.79 51.66 2.55 0.60 22.10 1942.10 3.30 2.00 2.47 1550.00 0.76 23.80 37.54 20.87 53.85 2.00 6.09 4.80 43.21 13.90 0.68 9.65 0.76 12.52 376.88 115.18 2.48 300.00 2.14 24.71 9.10 111.50 43.79 5.24 5.65 148.00 11.60 11.00 1.00 15.00 1.43 223.99 26.94 28.61 180.50 45.50 27.75 21.04 30.94 90.05 42.00 44.99 68.50 23.83 8.12 19.24 3.95 49.48 67.77 56.20

% Change -0.24 5-Day High 1,062.96 5-Day Low 1,043.26

Performance of SR Equity Investment Instruments Index Open 1,062.96 Turnover 5,792,353 P/E (x) 6.67

Open

DNCC GVGL AKGL MLCFPS SAPL FZCM ESBL SPLC THCCL NESTLE CSIL GRYL JUBS RMPL CJPL GATM PHDL CRTM PCAL TSMF JKSM FRCL FIMM SANSM HADC NATM BILF PRWM FZTM SFL SCLL PECO TRSM DINT MQTM FTHM GATI KOHS FECTC EXIDE DYNO UDPL NMBL BCML CWSM IDYM PRET RCML BHAT BTL FASM MSOT QUET SAPT ALNRS FECS TICL DADX MSCL LPGL PAKL CLOV MFFL SCL

% Change -1.80 5-Day High 887.16 5-Day Low 866.52

Open

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

-1.00 0.03 0.14 -0.24 0.15 0.30 -0.20 1.22 0.21 -0.01 0.80 0.07 0.04 -0.22

PE

Company

Performance of SR Gas Water and Multiutilities Index Open 1,703.08 Turnover 1,433,648 P/E (x) 10.74

Paid up Cap(mn)

Company

50 - 7.8R 15 50 20 -

GAS WATER AND MULTIUTILITIES

10.95 33.83 51.05 11.00 46.36 11.25 80.80 58.14 15.96 6.06 3.50 9.32 7.05 5.80

LIFE INSURANCE

ELECTRICITY High Low 1,203.79 1,182.55 Total cos Defaulter cos P/BV (x) ROE (%) 1.19 9.35

10.95 33.80 51.00 11.00 46.10 11.00 80.01 57.50 15.83 5.85 2.80 9.06 7.00 5.80

Performance of SR Life Insurance Index

Performance of SR Electricity Index Open 1,186.84 Turnover 11,331,186 P/E (x) 12.71

11.50 34.84 51.11 11.74 47.39 11.45 80.80 59.60 16.35 6.91 3.70 9.38 7.15 5.90

69.38

67.65

0.45 289,000

3.05 157,500

0.83 103,500

73.24

73.80

72.30

72.98

-0.26

35,500

ENGRO-NOV 176.76

179.50

178.05

178.43

1.67

34,500

PSO-NOV

266.48

271.90

268.00

270.90

4.42

OGDC-OCT 153.08

153.98

152.75

152.87

-0.21

14,500

19.40

19.75

19.50

19.65

0.25

14,000

OGDC-NOV 153.08

153.00

153.00

153.00

-0.08

8,000

PTC-OCT

28,000

UBL-OCT

54.50

55.30

55.20

55.20

0.70

8,000

AICL-NOV

74.80

76.10

74.50

75.09

0.29

8,000

BOP-OCT

8.72

9.00

9.00

9.00

0.28

3,000

ZERO VOLUME Symbols

Open

High

Low

Close

NBF

2.99

2.98

2.98

2.98

-0.01

FIBLM

2.84

2.50

2.50

2.50

Change -0.34

Vol

SLCL

2.40

2.39

2.39

2.39

-0.01

0

FCIBL

2.75

3.01

3.01

3.01

0.26

0

DCM

1.41

1.40

1.40

1.40

-0.01

0

SIBL

2.50

2.51

2.51

2.51

0.01

0

ALQT

2.50

3.00

3.00

3.00

0.50

0

0 0

DFSM

3.20

3.40

3.40

3.40

0.20

0

ELCM

12.00

11.00

11.00

11.00

-1.00

0

HMIM

1.06

0.90

0.90

0.90

-0.16

0

BOARD MEETINGS

Bank Al-Falah Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

Fair Value

*Arif Habib Ltd

*Arif Habib Ltd

Accumulate

AKD Securities Ltd

TFD Research

14.01

Positive

TFD Research

10,640.45

MA (5-day)

10,573.17

Support 2

10,577.15

MA (10-day)

10,487.34

Resistance 1

10,768.25

MA (100-day)

9,970.92

Resistance 2

10,832.85

Technical Analysis

MA (200-day)

9,990.16

Pivot

10,705.00

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

Technical Outlook 76.30 9.20 8.86 10.43

above average and Bollinger Bands were 22 per cent wider than normal. As MA (200-day) far as resistance level is concern, the market will see major 1st resistance level

Rs Recommendations

*Arif Habib Ltd

61.96

Neutral

AKD Securities Ltd

92.3

Positive

TFD Research

674.58 6,739.04 N/A 9.73

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

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

Leverage Position

67.89 65.42 65.52 71.89

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

318.37 21,588.47 63.34 67.96

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

Momentum oscillator is currently indicating that INDEX is currently in an overbought condition.

indicating that BAFL is currently in an overbought condition.

KSE 100 INDEX is currently 7.2 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 moderate flows of volume into INDEX (mildly bullish). Trend forecasting oscillators are currently bullish on INDEX.

Dera Ghazi Khan Cement Co Ltd

Brokerage House

Fair Value

Rs Recommendations

Brokerage House

44

Buy

AKD Securities Ltd

AKD Securities Ltd

43.29

Buy

TFD Research

TFD Research

36.85

Positive

*Arif Habib Ltd

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

67.22 26.56 25.36 27.13

Rs Recommendations

24.04

Buy

*Arif Habib Ltd

Positive

AKD Securities Ltd

30.5

Brokerage House

Technical Outlook

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

Fair Value

Fair Value

32.06

182.55 5,016.46 25.13 27.75

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

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

60.53 19.27 18.70 19.64

584.63 11,412.07 7.70 19.47

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

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

70.73 30.01 28.07 29.51

Buy

74.2

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

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

175.80 9,285.75 228.28 52.37

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

and Bollinger Bands were 6 per cent wider than normal. NML is currently 1.9 per cent above its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into NML (bullish). Trend forecasting

Pakistan Oilfields Ltd

Brokerage House

Buy

*Invest Cap

Accumulate

AKD Securities Ltd

Neutral

TFD Research

Rs Recommendations

316

Buy Buy

281.35

Positive

Technical Outlook

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

Fair Value

296.6

326.94 10,004.32 5.85 30.61

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

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

59.57 241.81 227.21 231.46

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

107.94 26,486.59 91.22 244.77

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

DGKC closed down -0.44 at 27.48. Volume was 9 per cent above average PTC closed up 0.21 at 19.52. Volume was 49 per cent above average and FFBL closed up 0.17 at 30.60. Volume was 26 per cent above average and POL closed up 2.17 at 245.39. Volume was 67 per cent above average and Bollinger Bands were 29 per cent wider than normal.

Bollinger Bands were 55 per cent narrower than normal.

Bollinger Bands were 51 per cent wider than normal.

FFBL is currently 5.3 per cent above its 200-day moving average and is DGKC is currently 1.3 per cent above its 200-day moving average and is PTC is currently 0.6 per cent below its 200-day moving average and is disdisplaying an upward trend. Volatility is low as compared to the average displaying an upward trend. Volatility is low as compared to the average playing an upward trend. Volatility is extremely low when compared to the volatility over the last 10 trading sessions. Volume indicators reflect very 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 strong flows of volume into DGKC (bullish). Trend forecasting oscillators reflect moderate flows of volume into PTC (mildly bullish). Trend forecast- currently bullish on FFBL. Momentum oscillator is currently indicating that are currently bullish on DGKC.

ing oscillators are currently bullish on PTC.

FFBL is currently in an overbought condition.

and Bollinger Bands were 12 per cent wider than normal. POL is currently 6.0 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into POL (bullish). Trend forecasting oscillators are currently bearish on POL.

Time

26-Oct 26-Oct 26-Oct 26-Oct 27-Oct 27-Oct 27-Oct 27-Oct 27-Oct 27-Oct 27-Oct 27-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct

9:30 11:00 12:00 6:00 3:00 3:00 11:45 3:30 10:30 11:30 11:00 10:00 11:00 10:30 12:30 12:30 12:30 12:30 11:00 10:00

Company

Leverage Position

68.85 51.16 46.94 51.85

Date

ICI Pakistan Ltd Mari Gas Company Limited Security Papers Ltd Sigma Leasing Corporation Ltd Dynea Pakistan Limited IGI Insurance Limited Ismail Industries Limited New Jubilee Insurance Co Ltd Oil & Gas Development Company Limited Safa Textiles Limited Shell Gas LPG (Pakistan) Ltd Hub Power Company Ltd Clariant Pakistan Ltd Muree Brewery Company Ltd Pak Oman Advantage Fund Pak Oman Advantage Islamic Fund Pak Oman Advantage Islamic Income Fund Pak Oman Advantage Stock Fund Pakistan Engineering Co Ltd Pakistan International Airlines Corporation

TECHNICAL LEVELS

Positive

NML closed up 1.11 at 52.82. Volume was 119 per cent above average

Technical Outlook

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

29.1

Buy

59.97

oscillators are currently bullish on NML.

Rs Recommendations

33

Rs Recommendations

65

Technical Analysis

Fauji Fertiliser Bin Qasim Ltd

TFD Research

Technical Outlook Technical Analysis

ing oscillators are currently bullish on NBP.

Pakistan Telecommunication Co Ltd

Fair Value

Technical Outlook

BAFL closed up 0.67 at 9.99. Volume was 511 per cent above average NBP closed up 0.12 at 67.81. Volume was 315 per cent above average (trending) and Bollinger Bands were 54 per cent wider than normal. (trending) and Bollinger Bands were 27 per cent narrower than normal. BAFL is currently 4.3 per cent below its 200-day moving average and is NBP is currently 2.1 per cent above its 200-day moving average and is disdisplaying an upward trend. Volatility is extremely high when compared to playing an upward trend. Volatility is relatively normal as compared to the the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into BAFL (bullish). Trend forecasting oscillators are currently bullish on BAFL. Momentum oscillator is currently reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-

to find its 1st support level at 10,640.45 and 2nd support level at 10,577.15.

Brokerage House

Buy

Technical Outlook

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

Fair Value 78

10.25

Support 1

at 10,768.25 and 2nd resistance level at 10,832.85, while Index will continue

Brokerage House

Buy

AKD Securities Ltd

81.07

KSE 100 INDEX closed up 51.23 at 10,703.71. Volume was 111 per cent

Rs Recommendations

14

Nishat Mills Ltd

National Bank of Pakistan

Company

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

RSI 1st 2nd (14-day) Support 49.45 3.10 2.90 72.09 55.55 55.25 43.02 63.00 62.65 54.03 27.85 27.35 61.17 24.60 24.25 65.09 73.40 72.45 70.64 15.80 15.60 69.94 11.45 11.15 34.66 296.50 293.25 80.39 100.35 99.25 76.30 9.55 9.05 61.26 3.15 2.80 68.26 8.65 8.30 56.90 1.55 1.45 67.22 27.10 26.70 60.16 1.55 1.50 78.23 3.10 3.05 74.34 45.85 45.35 71.70 76.50 75.55 54.09 176.60 175.25 66.53 14.30 14.05 59.46 5.00 4.95 70.73 30.45 30.25 64.83 108.45 107.85 65.04 103.40 102.70 57.70 34.10 33.95 70.04 127.75 126.45 60.63 230.30 226.30 51.89 2.50 2.25 50.53 1.50 1.45 58.10 2.35 2.15 44.21 10.30 10.15 44.81 39.65 39.20 58.71 2.15 2.10 56.83 71.10 69.55 68.76 203.40 202.15 55.31 2.90 2.75 67.89 66.90 66.05 81.74 21.35 20.85 49.05 18.35 18.15 56.13 2.85 2.80 61.60 1.55 1.50 68.85 51.80 50.75 69.34 151.15 149.70 69.04 3.25 3.15 65.86 1.85 1.75 52.73 2.10 2.05 57.69 8.15 7.90 59.57 243.10 240.80 60.81 189.40 187.80 52.22 74.45 73.55 52.40 266.95 264.25 60.53 19.30 19.05 24.37 180.60 177.55 50.73 30.20 29.35 81.83 11.90 11.70 35.89 22.85 21.95 57.39 2.40 2.30 59.90 4.20 4.10 70.90 54.45 53.65 58.68 2.70 2.60

1st 2nd Resistance 3.40 3.55 56.05 56.25 63.75 64.25 28.90 29.45 25.50 26.05 75.80 77.25 16.20 16.40 12.05 12.40 303.00 306.25 102.50 103.60 10.30 10.65 3.70 3.90 9.25 9.50 1.70 1.75 28.10 28.70 1.70 1.75 3.25 3.35 47.15 47.90 78.20 78.95 179.35 180.75 14.80 15.10 5.20 5.35 30.85 31.05 109.80 110.55 105.40 106.70 34.45 34.65 130.90 132.75 238.50 242.65 2.95 3.20 1.60 1.65 2.80 3.00 10.65 10.85 40.40 40.70 2.30 2.35 74.10 75.55 206.25 207.85 3.20 3.35 68.95 70.05 22.05 22.30 18.80 19.05 3.00 3.05 1.65 1.70 53.65 54.45 153.95 155.25 3.45 3.55 2.00 2.10 2.35 2.50 8.50 8.60 247.60 249.75 192.75 194.50 76.35 77.30 272.20 274.75 19.75 20.00 189.35 195.05 32.20 33.30 12.50 12.90 24.35 24.95 2.55 2.70 4.45 4.60 55.80 56.30 2.85 2.95

Pivot 3.25 55.75 63.45 28.40 25.15 74.85 16.00 11.75 299.75 101.40 9.85 3.35 8.90 1.60 27.70 1.65 3.20 46.60 77.25 178.00 14.55 5.15 30.65 109.20 104.70 34.30 129.60 234.50 2.75 1.55 2.55 10.50 39.95 2.25 72.55 205.00 3.05 68.05 21.55 18.60 2.95 1.60 52.60 152.50 3.35 1.90 2.30 8.25 245.30 191.15 75.45 269.50 19.50 186.30 31.35 12.30 23.45 2.50 4.35 54.95 2.80


8

Tuesday, October 26, 2010

PTCL broadening students’ cyber horizon ISLAMABAD: In continuation of its trend to facilitate the student community in the country, Pakistan Telecommunication Company Ltd (PTCL) has launched a new package on its broadband service, in addition to its existing Broadband student basic package. The newly launched broadband student bundle package includes 1Mbps broadband connectivity with unlimited downloads, 150 free voice

minutes and unlimited kehdo SMS, all just for flat Rs999 per month. PTCL has launched this initiative to provide country's youth with easy and economical access to high speed broadband internet, thereby expanding their knowledge, skills and productivity, said a press release issued here. Such a package will not only give a student affordable high speed unlimited internet affordable for students but also

the liberty to download unlimited infotainment material, free minutes to call on landline numbers and free unlimited voice SMS (Kehdo SMS). In addition to the above, PTCL has also extended the time period for students to apply for the Broadband packages and enter in the draw for 50 scholarships, worth Rs100,000 each, till the end of December 2010. PTCL is already giving free easy learning cards for interna-

Nokia redefines social messaging

BESOS Trust for PTCL formed

KARACHI: Nokia has launched a new messaging handset - the Nokia C3 with extremely fascinating features bringing a full Qwerty keyboard to the world's most pop-

devices such as C3 by Nokia, which offer more and more features of a smartphone at lower prices, is increasing by the day. Nokia's continuous efforts of 'connecting people' are paying off as its strategy to offer something for everyone

ular mobile phone platform, Series 40. According to a handout issued here, the introduction of

from every walk of life can be seen materialising with its promising new line of devices. C3 is the latest addition to this.

M Imran Sharif

Huawei to pursue case against Warid Staff Reporter K A R A C H I : Telecommunication equipment maker Huawei has said that it is committed to pursue its case against Warid Telecom in Pakistan High Court, contrary to unsubstantiated claims reflected in recent media reports, a hand out issued here said. It said, "As Huawei has exhausted all efforts to assist Warid in attaining an amicable resolution in the matter, the company was left with no other recourse as Warid remains unable to settle the money it owes to Huawei. The likelihood of an amicable resolution now is dependent on Warid. Should a solution not be confirmed, Warid places the continuity of its network in jeopardy, leaving Huawei with no other choice but suspension of services related to the debt." The petitions will be heard by the High Court at Rawalpindi today (October 26, 2010). Under the orders of the High Court notices of the winding up petitions have already been published in newspapers so that all contributories and creditors who wish to support the petition may come forward and make their claims before the High Court. Following the High Court's granting of the stay orders, Warid had requested a dialogue with Huawei to explore a resolution through settlement of the issue. No agreement has yet been reached and Warid has also not made any payment towards its debt to Huawei. Huawei is seeking the appointment of a provisional manager while the petitions are pending. The court appointed provisional manager would be tasked with managing the full cus-

Warid aims to talk the issues out with Huawei Staff Reporter KARACHI: Warid Telecom referring to a public notice issued by the Deputy Registrar of the Lahore High Court regarding a petition for its windup filed by Huawei, has said that the plea is a vendor dispute which Warid and Huawei are in talks to resolve amicably. According to details given in a hand out issued here on Monday Warid also said that should it fails to iron out its issues with the petition-filer, it would vigorously defend the claims initiated by Huawei. tody and control of all relevant documentation, property, effects and actionable claims of Warid for the purpose of compiling the contributories list and creditors of the company along with the day to day management of Warid's business during the pendency of the winding up proceedings. In addition to that, Warid owes Huawei in excess of $1,000,000 for support services. It has also defaulted on these payments and the monthly bills for August, September, 2010 have not been paid. Huawei will have no choice shortly but to discontinue providing these services, which will have a likely effect on Warid's customer services.

ISLAMABAD: Federal Minister for Privatisation Senator Waqar Ahmed Khan has directed the officials to finalise other entities' trusts and to get them registered at their earliest to transmit the benefits of Benazir Employees Stock Option Scheme (BESOS) to the workers without any further delay. A delegation of CBA workers Union of Pakistan Telecommunication Company Limited (PTCL) led by the Secretary General Lala Muhammad called on the minister. The PTCL CBA Workers Union gave three names of their office bearers for the establishment of PTCL BESOS Trust. The Privatisation Commission (PC) formed the BESOS Trust and got it registered. The delegation termed the free of cost distribution of 12 per cent government of Pakistan shares under BESOS as a revolutionary step of the present government. They expressed the sense of ownership in the company would make them more responsible to work uninterruptedly and dedicatedly and to make it more profitable as the recipients of shares unit certificate would also be eligible to get due dividend. The delegation expressed their gratitude to Senator Waqar Ahmed Khan for extending his cooperation for the implementation of the scheme and assured the minister that the scheme would improve the relations between the management and the employees in the largest interest of the company and the nation. Senator Waqar Ahmed said that BESOS scheme approved by the Federal Cabinet covers employees of 80 State Owned Entities (SOEs), which has been envisaged in accordance with the vision of Shaheed Mohtarma Benazir Bhutto. So far 39 Trusts have been registered under Benazir Employees Stock Option Scheme. The establishment of BESOS Trust in Pakistan Steel Mills Corporation (PSMC) and Pakistan Steel Fabrication (PSF) are at final stage while Trusts in the remaining organizations are under process. 12 per cent GoP shares of 27 SOEs have been distributed free of cost among 69,644 employees while 39 BESOS Trusts have been registered in the entities having 94,778 employees. Under this scheme the workers of 80 SOEs will receive the shares unit certificates and dividend accordingly. BESOS has started delivering its fruits as an amount of Rs1.613 billion have been disbursed among 16,044 employees of seven entities while PC has received Rs1.452 billion in its Revolving Fund.-APP

tionally certified online courses to all its customers who want to enhance their educational and professional skills. PTCL SEVP Commercial Naveed Saeed marked this new offer as a very significant initiative taken by PTCL and mentioned that PTCL in future will further come up with similar initiatives and opportunities for the human development and youth in Pakistan. He said that by integrating many value-added services and

packages to its already existing growing portfolio of broadband service, today PTCL has become the obvious choice for people looking for high speed internet in Pakistan. In future as well, PTCL plans to launch many such offers to facilitate our valued customers, he added. PTCL EVP Multimedia and Broadband Zomma Mohiuddin said that the reach of PTCL Broadband access that spans across the length and breadth

of the country, coupled with the affordable packages, will certainly go a long way in enhancing the general awareness and knowledge of the students and the new generation of the country. He added that since Broadband was all about access to information at high speed, PTCL's leadership in providing the fastest Broadband service was leading the proliferation of Broadband across the country.-APP

Vodafone 3G in India by 1Q next year MUMBAI: Vodafone Essar, India's third-largest mobile carrier, will launch thirdgeneration (3G) services in the country in the JanuaryMarch quarter of 2011 and plans to spend up to $500 million within two years on its 3G networks, its managing director said. Marten Pieters told reporters that the company would price the services competitively and that he was "optimistic" about revenue from 3G services, which would facilitate features such as faster Internet on mobile phones and video calling. Vodafone Essar, controlled by Vodafone, won 3G radio airwaves in nine of India's 22 telecoms zones in an auction that ended in May. Last week, the company named Nokia Siemens Networks and Ericsson as its 3G equipment suppliers. Vodafone Essar paid about $2.6 billion in the auction that saw much higher-thanexpected bids, with no single firm winning spectrum in all the zones. Vodafone Essar is in discussions with other "quality" operators to forge alliances for delivering 3G services

beyond the nine zones where it has its own spectrum, Pieters said. "I said all quality operators. Bharti and Idea are quality operators," said Pieters said, when asked whether the company was talking to rivals Bharti Airtel and Idea Cellular for 3G

alliances. India is a late adapter of 3G and is the biggest economy to not have these premium services in large scale yet, though the state-run telecoms firms have 3G services in some telecom zones. With 3G services, carriers' margins are expected to improve as data services

offer higher margin than voice services. But the premium services may take time to pick up in a price-sensitive market like India. "We are starting from a low level. It will take some time before we get real volume," Pieters said. Vodafone Essar has about

116 million 2G customers in India, trailing Bharti Airtel and Reliance Communications. Vodafone owns 67 per cent of Vodafone Essar, with India's Essar Group holding the remainder. Essar Group has an option to sell its entire stake to Vodafone for $5 billion by May 2011.-Reuters

Two India cos vying for Saudi Tel tower business MUMBAI/LONDON: Saudi Telecom has put India's GTL Infrastructure and Quippo on its shortlist for a stake in its tower business and final offers are likely to be made within the next few weeks, three sources said. The sources, who are familiar with the matter, said Saudi Telecom's tower business was valued at between $1 billion and $1.5 billion. The company had not yet decided if it would sell 49 per cent or more in the unit but had made its shortlist for the stake, which included Indian firms GTL Infrastructure and Quippo, also a telecom infrastructure company, the sources said. State-controlled Saudi Telecom has about 10,000 telecom tower -- which mobile operators used to transmit wireless signals -said the sources, who declined to be named as they are not authorised to speak to the media.

A Saudi Telecom spokesman declined to comment. When asked whether Quippo was bidding for a tower arm, Sunil Kanoria, a director on the board, said: "We are working on it." He declined to comment on whether Quippo had been shortlisted. A GTL Infra spokesman was also mum on Saudi Telecom. "While we continue to pursue several opportunities for mergers and acquisitions, it would be premature at this stage to comment on any specific target," he said. One of the sources said American Tower Corp, and a consortium of Dubai-based private equity firm Abraaj Capital and top mobile telecom-equipment maker Ericsson had also shown interest in the Saudi Telecom tower business, but it was not clear whether they were still in the race.

That source said Saudi Telecom has shortlisted between "one and three" serious contenders for the unit. TOWER BUSINESS In January, GTL Infra acquired 17,500 towers from India's mobile phone operator Aircel Ltd, a unit of Malaysia's Maxis Communications, at an enterprise value of $1.8 billion. However, plans to merge the tower business of GTL Infra, founded by its chairman, Manoj Tirodkar, with India's No 2 mobile operator Reliance Communications fell through last month. Indian carriers have been hiving off their tower operations in order to reduce their capital expenditure and debt. Analysts have said telecom companies typically spin off tower holdings into an independent firm, which makes it easier to attract rival carriers as tenants and boost earnings potential of the business.-Reuters

G’Five sales to debut across China BEIJING: G'Five International, a leading Chinese cellphone maker, plans to sell its smartphones and tablet PCs in China for the first time to add to its growing worldwide sales, the company's chief executive said. G'Five smartphone sales in China will begin in January, and could account for 30 per cent of revenue within three

years, CEO Jeff Zhang said in an interview. The company's tablet PCs will go on sale in China in the second quarter of next year and be priced at 2,000-3,000 yuan ($300-$450), well below iPad tablets sold by Apple, Zhang said. "Chinese customers' ideas toward electronic products are changing, and 3G facilities are

improving. These are the two main reasons we are moving into the domestic Chinese market." G'Five manufactures mobile phones and components. In 2008 it launched its own brand, focusing on developing markets in Asia, the Middle East, Africa and Latin America. This year the company plans to sell 20 million handsets, or

three times the volume of 2009. It expects phone sales to increase another 30-50 per cent in 2011, Zhang said. He acknowledged that he thinks about taking the company public, but that he has no timetable. "If we go public I'm inclined to do so outside China. But it won't be so soon," Zhang said. "Our main tasks are to build

our business and establish our brand." Zhang said he is talking with China's three wireless carriers, China Mobile, China Unicom and China Telecom, to produce handsets for their networks. G'Five hopes to sell in China at least three models of phones for each of the 3G technology standards: WCDMA, CDMA 2000 and TD-SCDMA.

The company will market four models of tablet PC next year which will run on the Windows XP operating system of Microsoft and on the Android system of Google. G'Five was the world's 10thlargest maker of mobile phones in the second quarter, according to market research firm Gartner.-Reuters

Batelco sees flat 2011 profit on India costs MANAMA: Bahrain Telecommunications (Batelco) expects 2011 net profit to be flat as start-up operations in India still burden the bottom line, its chief executive said. Batelco expected 2010 net profit to be 15 per cent below the 105 million dinars ($279 million) it reached in 2009, mainly due to the start-up costs of Indian operator S Tel, in which Batelco bought a 49 per cent stake last year. "The biggest impact on our net profit is the share of losses from our start-up in India," Peter Kaliaropoulos told Reuters, adding the losses would amount to about 12-13 million dinars this year and could reach up to 15 million next year. He said he expected next year's net profit "at the same level" as this year, depending on how much the company can cut its costs. Batelco plans to reduce its costs by 8-10 per cent annually to compensate for lower revenues in Bahrain, where it is losing market share to competitors Saudi Telecom Co and Kuwait's Zain. Just like other Gulf Arab operators, Batelco is under pressure to make acquisitions abroad to offset increased competition at home. But Kaliaropoulos cautioned it would take Batelco time to make an acquisition.-Reuters

Illegitimate call traffic setup gets busted in Khi ISLAMABAD: Pakistan Te l e c o m m u n i c a t i o n Authority (PTA) and Federal Investigation Agency (FIA) National Response Center for Cyber Crimes (NR3C), Karachi conducted a successful raid in Haiderabad Colony, Jail Churangi, Karachi against an illegal call termination setup. The raid was conducted based on the information obtained through PTA traffic monitoring facility which detects grey/illegal traffic. The raid resulted in confiscation of illegal switches along with other accessories. It may be added that PTA has established highly advanced technical monitoring system to identify such illegal activities throughout Pakistan. After identification of the illegal activity, PTA not only unearths the exact location of these networks but also launches crack down with the help of FIA to safeguard national interests.-NNI

Vodafone hearing deferred by India SC NEW DELHI: India's top court has deferred the hearing of Vodafone's $2.5 billion tax case to Nov 15, Harish Salve, a lawyer for the telecom firm, told reporters on Monday. Vodafone, fighting a tax bill in India over its 2007 purchase of Hutchison Whampoa Ltd's mobile business in the country, had appealed to the Supreme Court challenging a lower court order that Indian tax authorities had jurisdiction over tax bills in crossborder deals. The tax office last week asked Vodafone to pay 112.18 billion rupees ($2.53 billion) within 30 days, but the British firm said it "strongly disagrees" with the calculation.-Reuters


9

Tuesday, October 26, 2010

Crude oil surges to $83 as dollar weakens Commodities still focused on dollar after G20 accord LONDON: Oil jumped by more than a dollar to around $83 a barrel on Monday, gaining for a second session as the US currency weakened after a Group of 20 meeting and strikes in France disrupted oil supplies. The dollar dropped, hitting a 15-year low against the yen, as the G20 agreement to shun competitive currency devaluations was taken by investors as a goahead to resume dollar selling. US crude for D e c e m b e r climbed $1.36 to $83.05 a barrel at 1404 GMT, within sight of a five-month high of $84.43 reached on Oct. 7. ICE Brent added 98 cents to $83.94. "People are still selling dollars after the G20 meeting and that is putting upside pressure on commodities," said Michelle Kwek, an analyst at Informa Global Markets in Singapore. Among other commodities, gold rose more than 1 per cent, palladium hit its

Indian sugar edges down on subdued demand MUMBAI: India's spot sugar eased on Monday due to sluggish demand, but a rise in the overseas markets and a delay in cane-crushing limited the losses, dealers said. Demand for sugar usually goes up ahead of Diwali, the Hindu festival of lights, which falls in the first week of November. India, the world's biggest consumer of the sweetener, has made available 1.75 million tonnes of sugar for sale in open market for October, lower than 1.85 million tonnes it had released a year ago, the government said in a statement. Fresh showers in India's key sugar producing states of Maharashtra and Karnataka are likely to delay cane crushing, industry and government officials told Reuters. New York raw sugar futures rose over 2 per cent in Asian trade, supported by continued bullish sentiment due to the tight supply outlook. -Reuters

highest in nearly a decade and copper reached a 27-month high in London. Analysts said the G20 outcome suggested a return to the pre-existing status quo in currency markets, with the dollar staying under pressure due to expectations the Federal Reserve would unveil a second

round of quantitative easing as early as November. US equities rose on Monday, supported by data showing sales of previously owned US homes rose more than expected in September. Oil has also been supported by strikes in France over pension and port reforms, which have reduced fuel supplies. Workers at seven out of France's 12 refineries voted to continue striking on Monday,

but two of the other five plants could vote to end their action, union officials said. Oil traders were keeping an eye on the potential for weather disruption to supplies in the Gulf of Mexico. The threat eased after Hurricane Richard was downgraded to a tropical storm. Some analysts predict oil could make further gains. JP Morgan, in a report, said Brent will spike above $90 before the end of 2010, due to factors including the weak dollar and a tighter oil supply and demand balance. "Viewed in the context of per centage price shifts between oil and the dollar, oil prices may have gotten ahead of themselves, however, in coming weeks the writing is on the wall," JP Morgan said in the report. "The US needs a loose monetary policy and the Fed has said it will deliver."-Reuters

Malaysian palm gains as dollar falls broadly KUALA LUMPUR: Vegetable oil markets jumped to two-year highs on Monday as the dollar fell broadly after a Group of 20 meeting and on concerns over delayed output in main soy producing areas. Malaysian benchmark January palm oil ended at 3,071 ringgit ($986.5) after climbing as much as 2.4 per cent to hit its highest since July 28, 2008. Volume almost doubled to 19,159 lots from the usual 10,000 lots. "Malaysian market sentiment is positive as investors are expecting lower stocks in November and December and looking forward to China's demand ahead of winter and New Year," said a trader in Kuala Lumpur. Cargo surveyor Intertek Testing Services on Monday reported palm oil products shipped between Oct. 1 and Oct. 25 fell 4.7 per cent com-

pared with the same period last year. Another surveyor, Societe Generale de Surveillance, said overseas demand for the same period rose 1 per cent. China's most active May soyoil futures jumped 3.2 per cent to close at 9,514 yuan ($1,429) per tonne, after going as high as 9,580 yuan, a level unseen since August 2008. "Most of China's agricultural commodities were firm on speculative buying due to the weaker US dollar," said an oil analyst in Shanghai. "Soyoil was also supported by the US soy complex that edged higher the previous session due to strong export demand by China." The stronger US soy complex supported most Asian vegetable oil futures. Soyoil for December delivery rose 2.9 per cent to over two-year highs along with other soft commodities. -Reuters

Copper at 27-mth top on dollar, strong demand LONDON: Copper rose to a 27month high above $8,500 a tonne on Monday as the dollar sank after a weekend G20 meeting, while investors took comfort from falling stocks and strong demand in top consumer China. Benchmark copper for threemonths delivery on the London Metal Exchange closed at $8,518 a tonne, up from a close of $8,335 on Friday. Prices of the Metal used in power and construction hit $8,549 a tonne earlier, their highest since July 2008. China's apparent demand for refined copper rose in September, according to Reuters calculations based on official Chinese data released earlier. Net Chinese imports of copper were 7.5 per cent down on August, but an increase in China's output of the Metal and a 17 per cent fall in Shanghai Futures Exchange stockpiles pointed to a 3.3 per cent rise in demand overall. "Today's (Chinese) numbers were a little on the light side," said Edward Meir, an analyst at MF Global in New York. "People don't seem to care about that -- demand is still strong, still sufficient to keep the

buying momentum intact." Investors are now shifting focus back to US monetary policy, with rising expectations that the Federal Reserve will

Shanghai metals climb Shanghai copper futures touched 65,050 yuan, its highest since May 2008 before ending the day at 64,610 yuan, while benchmark third-month Shanghai zinc hit 20,950 yuan, up by its 5 per cent limit from Friday's settlement. opt for a second round of quantitative easing. Also helping base metals was news that JPMorgan Commodity ETF Services had registered to launch an exchange-traded product (ETP) for copper in a filing late last week with US regulator the Securities and Exchange Commission. On the supply side, the picture remained tight, with the

latest data showing LME copper stocks fell 450 tonnes to 368,375 tonnes, down around a third from a six-and-a-half-year high of 555,075 tonnes seen in February. The discount for nearby cash copper over the three-month benchmark has narrowed from around $20 a tonne on Oct. 20 to $16 a tonne currently, indicating spot supply is getting harder to come by. LME zinc and lead extended Friday's gains to touch their highest levels in nine months on Monday, both at $2,600. Zinc later ended at $2,565 a tonne from $2,512, while lead closed at $2,585 from $2,530. Among other industrial metals, aluminium was untraded at the close but last bid at $2,372 a tonne from $2,365, tin was at $26,900 from $26,400, and nickel traded at $23,600 from $23,225. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for October 22 2010 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1240

1190

October (3rd Wednesday)

1250

1195

November (3rd Wednesday)

1260

1205

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for October 22 2010

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

2160 2170 2190 2200 2155 2165 2155 2165

2326 2326.5 2363.5 2364 2405 2410 2463 2468

8309 8309.5 8324 8325 8170 8180 7815 7825

2492 2494 2515 2520 2493 2498 2463 2468

23400 23405 23425 23450 22900 23000 21825 21925

TIN

ZINC NASAAC

26400 2489 2278.5 26405 2489.5 2279 26400 2518.5 2300 26405 2519 2310 25875 2550 2355 25925 2555 2365 2520 2405 2525 2415

European vegetable oil prices ROTTERDAM: The following were the Monday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Dec10/Jan11 860.00, Feb11/Apr11 861.00+6.00. RAPEOIL: Dutch/EU euro tonne fob exmill Nov10/Jan11 860.00+0.00, Feb11/Apr11 848.00+5.00, May11/Jul11 855.00+10.00, Aug11/Oct11 835.00+5.00. SUNOIL: EU dlrs tonne extank six ports option Jan11/Mar11 1325.00+20.00, Apr11/Jun11 1310.00+15.00, Jul11/Sep11 1325.00+20.00. LINOIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1315.00+7.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Nov10 1042.50+27.50, Dec10 1040.00+25.00, Jan11/Mar11 1040.00+30.00, Apr11/Jun11 1042.50. PALMOIL: RBD dlrs tonne cif Rotterdam Nov10 1070.00, Dec10 1067.50, Jan11/Mar11 1065.00. PALMOIL: RBD dlrs tonne fob Malaysia Nov10 1025.00, Dec10 1022.50+22.50, Jan11/Mar11 1020.00+25.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Nov10 1035.00, Dec10 1032.50+22.50, Jan11/Mar11 1030.00+25.00, Apr11/Jun11 1032.50+25.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1450.00+5.00, Nov10/Dec10 1450.00+5.00, Dec10/Jan11 1450.00+5.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1925.00+0.00. Reuters

Tokyo rubber rises after jump in Shanghai TOKYO: Key Tokyo rubber futures rose 1.1 per cent on Monday on buying by speculators who took their cues from a jump in Shanghai rubber futures, traders said. The key Tokyo Commodity Exchange rubber contract for March delivery settled at 337.5 yen, up 3.7 yen or 1.1 per cent. The October rubber futures contract on Monday expired at 328.4 yen per kg, up 11 per cent from the September contract's 295.8 yen expiry price. October deliveries of 286 lots, or 1,430 tonnes, were down 6 per cent from September's 304 lots, which had been the highest in six months. The expiry of TOCOM's nearby contract for October delivery and the debut of the new April contract on Tuesday are also prompting investors to buy on expectations that speculators will go long on the new contract, Saito said. The most active Shanghai rubber futures for May delivery closed on Monday at a record high and limit-up 32,955 yuan ($4,949) per tonne, up 1,670 yuan, pulled higher by a rise in other commodities markets and Asian stocks. Trading volume was a relatively thin 400,963 lots. -Reuters

AHMEDABAD - INDIA: An Indian worker controls a golden ring cutting and shaping machine at a unit engaged in making gold ornaments in Ahmedabad. -Agencies

Gold up, palladium at highest since 2001 LONDON: Gold rose about 1 per cent on Monday and palladium hit its highest in nearly a decade, as the dollar fell after weekend comments at the G20 meeting and investors awaited a speech by the Federal Reserve Chairman. Spot palladium rose to $617.50, its highest since mid2001, from $586.98 an ounce late in New York on Friday. The metal, mainly used in auto-cata-

Christmas we're looking at possibly $1,400." The dollar fell around 0.7 per cent versus a major currency basket which made the dollarpriced metal, a hedge against risk, cheaper for non-US investors. The US gold futures for December delivery rose 1.37 per cent to $1,343.1 an ounce. Robust physical demand from India ahead of its important festival season, as well as from

lysts to cut emissions, traded at $606.30 an ounce at 1414 GMT. Spot gold rose to $1,337.17 an ounce, off the 2-1/2 week low of $1,315.09 hit last Friday. It was at $1,326.70 late in New York on Friday. Analysts said the Group of 20 (G20) finance ministers on Saturday pointed to a status quo in currency markets, with the dollar staying pressured due to market expectations for the Federal Reserve to unveil a second round of quantitative easing as early as November. "It's a very bullish picture for gold," said Carl Firman, analyst at Virtual Metals. "You have this prospective QE2, dollar weakness, inflation fears," he added. "After

other countries, is likely to keep gold prices buoyant. Concerns about the recovery of the global economy and inflation due to lax monetary policies have made gold a popular investment, pushing the precious metal up by a fifth this year, outpacing copper's 16 per cent gain. BlackRock Inc, the world's largest money manager, expected gold prices to rise further due to a lack of world production growth, increasing appetite among central banks to hold more gold as a safe-haven investment. Silver was at $23.67 an ounce from $23.24 an ounce and platinum was at $1,693.17 an ounce from $1,667.75 an ounce. -Reuters

Coffee, sugar rise, near recent peaks LONDON: ICE arabica coffee futures prices were firm on Monday but below recent 13year highs, while raw sugar edged up with support from a weak dollar, remaining below its nine-month high. Cocoa futures prices also rose as limited origin selling underpinned prices. Liffe January robusta coffee was up $38 or 2.1 per cent at $1,864 per tonne at 1446 GMT. ICE December arabica futures traded up 3.20 cent or 1.6 per cent at $2.0205 a lb. ICE raw sugar futures prices were higher, supported by bullish sentiment due to the tight supply outlook. ICE March raw sugar futures traded up 0.40 cent or 1.4 per cent at 28.62 cents a lb. London December white sugar was up $11.10 or 1.6 per cent at $718.00 per tonne. Sugar merchant Czarnikow expects the 2010/11 global sugar market to move into equilibrium, its head of research Toby Cohen said on Monday, after weather conditions in key producers reduced prospects for big surpluses. Cocoa extended its recent rebound with ICE cocoa benefitting from the weaker dollar. Dealers said key producer Ivory Coast was holding back some cocoa in the hope of higher prices. ICE December cocoa was up $72 or 2.5 per cent at $2,918 per tonne. Liffe secondmonth March cocoa traded 36 pounds higher at 1,984 pounds a tonne. -Reuters

EU wheat edges up PARIS: European wheat futures edged higher on Monday following a rise on US grain markets on a fall in the dollar, but the strength of the euro also kept a lid on prices, traders said. Benchmark January milling wheat closed up 0.75 euros at 208.50 euros a tonne. Frontmonth November, which expires on Nov. 10, also added 0.75 euros to 210.25 euros. Traders put the resistance for January at 210.50 euros a tonne and the support at 205 euros. "We keep on following Chicago. Everything takes place in the US," an exporter said. "We are still in the process

of executing our contracts and we'll see later about covering the second part of the campaign," he added, noting that he was already optimistic. French wheat for next spring was more expensive than US wheat in FOB terms, but a cheaper freight rate to Mediterranean destinations was enough to keep it competitive. The harvest was showing heterogeneous results. Maize producers group AGPM estimated the average yield at between 9.1 and 9.3 tonnes per hectare, against 9.1 tonnes in 2009, according to farm ministry estimates. Germany's market was stronger, supported by the rise in Paris and higher US futures

but with rises limited by low demand and concern about the euro's overall strength. Standard new crop breadquality wheat for November delivery in Hamburg was offered for sale up 2 euros at 211 euros a tonne with buyers at 208 euros. Spanish wheat prices lined up with last week's price declines in Paris, while a strong euro helped cheapen dollar-denominated origins for the import-dependent country. Imported feed wheat in leading grains port, Tarragona, was offered at 205-206 euros a tonne, down about 5 euros from a week ago, with bids at 202 euros. Reuters

National Commodity Exchange Ltd Trading Summary Date

25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010 25-Oct-2010

Commodity

CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD Kilo GOLD Tola Gold50 Tola Gold100 Mini Gold Mini Gold Mini Gold Mini Gold Mini Gold TT Gold TT Gold TT Gold IRRI6W Rice IRRI - 6 RBD Palm Olein KIBOR3M KIBOR3M

Contract Date

Price Quotation

Open

High

Low

Close

NO10 DE10 JA11 NO10 DE10 NO10 DE10 JA11 NO10 DE10 JA11 NO10 DE10 JA11 NO10 NO10 NO10 1-Aug 2-Aug 3-Aug 4-Aug 5-Aug 1-Sep 2-Sep 3-Sep 28OC10 NO10 NO10 10-Dec 11-Mar

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 Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

81.59 82.40 83.06 23.21 23.25 1328.00 1327.10 1328.00 1326.10 1326.00 1327.40 36600.00 36692.00 36763.00 36708.00 42826.00 42816.00 37753.00 38050.00 37803.00 37816.00 37829.00 43367.00 43410.00 43425.00 2402.00 3227.00 4437.00 86.72 86.16

82.90 83.60 83.84 23.77 23.77 1348.70 1349.00 1350.40 1345.30 1349.00 1345.70 37267.00 37276.00 37294.00 37239.00 43435.00 43435.00 38342.00 40000.00 38303.00 38316.00 38329.00 44053.00 43994.00 44009.00 2402.00 3324.00 4533.00 86.74 86.16

80.70 81.50 83.06 23.21 23.09 1321.00 1321.50 1322.50 1326.10 1326.00 1327.40 36575.00 36692.00 36763.00 36708.00 42826.00 42816.00 37753.00 37791.00 37803.00 37816.00 37829.00 43367.00 43410.00 43425.00 3206.00 3227.00 4437.00 86.72 85.75

82.56 83.27 83.84 23.77 23.77 1345.30 1345.70 1346.60 1345.30 1345.70 1345.70 37267.00 37276.00 37294.00 37239.00 43435.00 43435.00 38342.00 38290.00 38303.00 38316.00 38329.00 44053.00 43994.00 44009.00 3303.00 3324.00 4533.00 86.74 85.75

Traded Volume in lots 134 66 22 197 1,107 1,298 9 4 2 5 -

Previous Settlement Price 82.49 83.23 82.80 23.51 23.51 1339.00 1339.50 1340.40 1339.00 1339.50 1340.40 37098.00 37107.00 37125.00 37070.00 43238.00 43238.00 38170.00 38120.00 38132.00 38145.00 38158.00 43853.00 43794.00 43809.00 3206.00 3227.00 4437.00 86.72 85.75

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

Current Open Interest Settlement in Lots Price 82.56 48 83.27 13 83.84 23.77 23.77 81 1345.30 539 1345.70 449 1346.60 1,100 1345.30 1345.70 4 1346.60 37267.00 51 37276.00 7 37294.00 37239.00 1 43435.00 43435.00 38342.00 38290.00 5 38303.00 38316.00 38329.00 44053.00 43994.00 1 44009.00 3303.00 3324.00 4533.00 86.74 85.75 -


Kim Clijsters of Belgium talks during a news conference for the WTA Tour C’ships

10

Tuesday, October 26, 2010

FIFA VP chips in $0.4mn for flood relief LAHORE: "FIFA is at Faisal Saleh Hayat and his body's disposal at this awful time in the spirit of solidarity, assuring all out cooperation," this is stated by South Korea's millionaire football man and FIFA Vice President Dr Chung Mongjoon who has donated $0.4 million for victims of the recent devastating floods in Pakistan. Dr Chung, on behalf of FIFA expressed commensurations and condolences over the massive loss of lives and colossal damage to properties and infrastructure caused in flood-ravaged Pakistan and assured humanitarian aid to help deal with the disaster which has killed more than 13 million people. Many South Koreans believe they owe Chung a debt for his years of international diplomacy that helped secure the joint hosting of the World Soccer Cup 2002. Chung, 59, one of the seven FIFA Vice Presidents added;" Contributing to alleviate suffering and maintain human dignity during and in the aftermath of man-made crises and natural disasters within the football family is also a responsibility that FIFA takes very seriously. The fund will be aimed at rebuilding the basic football infrastructure, which was damaged by the ravaging floods, throwing the sport into disarray for locals in a bid to use football to bring hope and happiness back to the local people, especially traumatized youngsters."-APP

FIFA clamps down unethical vote behaviour ZURICH: FIFA has promised a zero tolerance approach to unethical behaviour in the contest to host the 2018 and 2022 World Cups in response to comments made by the body's former general secretary to undercover newspaper reporters. "FIFA and the ethics committee are committed to have zero tolerance for any breach of the code of ethics and the bid registration," football's governing body in a statement on Monday. "FIFA and the ethics committee are determined to protect the integrity of the 2018 and 2022 FIFA World Cup bidding process." The Sunday Times posted a film of Michel Zen-Ruffinen talking to undercover reporters about the bid process, fueling the controversy surrounding the hosting of the two tournaments.-Reuters

Ronaldo ‘dodging’ debt collectors

Afridi to take on Botha Pak-SA series kicks off today in Abu Dhabi

SA unfazed by fixing controversy: Smith ABU DHABI: Graeme Smith, the South Africa captain, has said his team is focused on performing its best in the upcoming tour of the UAE where it takes on Pakistan in a full series and is not distracted by the spot-fixing controversy that has troubled Pakistan cricket since the tour of England earlier in the year, said smith in a press conference here. The first of the two Twenty20 Internationals between Pakistan and South Africa will be played here today. Smith said he expected Pakistan to be competitive in favourable conditions and called out fans in the UAE to

provide the fullest support to

the teams. "I think generally there are always one or two things

going on in Pakistan cricket, so they're pretty used to dealing with stuff like that at least from a playing perspective," Smith told. "We still expect them to be very competitive on this tour and conditions to suit them. "You can't hide away from what's going on but as a unit we've dealt with this in our society over the years. We're used to adversity and for us it's just about being honest." Smith reposed faith in the ICC in tackling the latest crisis and said he viewed the series as the stage to begin a successful preparation for the World Cup in the subcontinent next

PCB forms anti-corruption task force

ICC lauds PCB's measure Monitoring Desk LAHORE: The International Cricket Council (ICC) has given a cautious nod of approval to the Pakistan Cricket Board's (PCB) efforts in toughening its approach to corruption in cricket and undertaking reforms to improve the administration of the game in Pakistan. However, the ICC has warned against complacency and reiterated a series of measures to all member boards to make efforts at eliminating corruption in the aftermath of the spot-fixing controversy. "We are encouraged by the excellent progress reported and also the willingness of the Pakistan Cricket Board to embrace the ICC recommenda-

tions," ICC CEO Haroon Lorgat said after a meeting of the Pakistan task force, a group aimed at bringing international cricket back to Pakistan. "However, we can never be complacent nor distracted in our determination to tackle corruption." The ICC, earlier this month, had warned the PCB over the continuing decline of governance in Pakistan cricket and had conveyed a clear message to get its act together by sorting out the game's administration or facing the consequences, possibly in the form of sanctions. The PCB was given a 30-day deadline to conduct a thorough and far-reaching review of its "player integrity issues" and report back to the task force.

In the interim, the PCB, as advised by the ICC, has introduced a revised code of conduct with a strong emphasis on anticorruption which has been signed by all players ahead of the tour of the UAE later this month. The board has also set up an Integrity Committee, aimed at finding ways to move forward after the spot-fixing controversy, deal with the ICC's recommendations and address issues of corruption and doping, each of which have plagued Pakistan cricket in the past. The committee comprises several senior officials of the board including chairman Ijaz Butt, chief operating officer Wasim Bari, team manager Intikhab Alam and director of international cricket Zakir Khan.

Rajasthan Royals to challenge termination MUMBAI: Indian Premier League team Rajasthan Royals (RR) on Monday filed a petition in the Bombay High Court, challenging BCCI's decision of terminating its franchise agreement. BCCI had terminated the agreement with the inaugural champions on October 10, saying it had changed the shareholding pattern without informing either the Board or the IPL Governing Council. "We have tried to meet with the BCCI to understand the basis for the termination, which was received without

notice. We do not understand what we have done wrong, and it is therefore our duty to the fans of the IPL, our employees, our players and our partners to pursue the matter. "The matter is expected to be listed this Wednesday. We would not like to state anything further since the matter is sub-judice," an RR spokesperson said in a statement. The BCCI had terminated the agreements of two franchises -- Rajasthan Royals and Kings XI Punjab -- for alleged

irregularities in their ownership pattern. The winners of inaugural IPL, Rajasthan Royals team is seen as close to the suspended IPL commissioner Lalit Modi, whose brother-in-law Suresh Chellaram has stake in the team. Chellaram is facing government investigations for violations of foreign exchange rules, while the Enforcement Directorate has issued a 'Blue Alert' against Modi, who is now facing the prospect of his passport being revoked.Online

year. "The ICC has to control

the integrity of the game and it's our responsibility to make the game as competitive as

No Brett Lee in Aussie T20 squad MELBOURNE: Injury-prone fast bowler Brett Lee today failed to make a comeback to international cricket after being overlooked by the selectors for Australia's one-off Twenty20 tie against Sri Lanka. But wicketkeeper Brad Haddin and pacer Peter Siddle returned to Australia's squad after injury lay-offs while senior players Mike Hussey and Mitchell Johnson were rested in view of the forthcoming Ashes series. The 33-year-old Lee recently made a successful return to the New South Wales (NSW) side and even skipper Ricky Ponting had said that he wants to have him and Shaun Tait for next year's World Cup squad. However, it was a good news for Siddle who had undergone a lengthy rehabilitation from a back injury. Haddin too had an elbow complaint. But now both will be available for the Twenty20 match in Perth on Sunday. Haddin's return meant there was no place available for Tasmanian wicketkeeper Tim Paine, who played in the Test and one-day series in India. "It's exciting to see the return of Peter Siddle and Brad Haddin into international cricket. Peter is a key bowler in all forms of the game and has made a return from injury and is now ready to take his place in the Australia Twenty20 squad," chairman of selectors Andrew Hilditch said. "It is unfortunate for Tim Paine, having played so well for Australia recently, to miss out on this squad but Brad has made a very good recovery from his elbow injury and is an established member of our side in all forms of the game," he added.-Online

possible. We have to put our faith in the ICC to handle things properly," Smith said. "We've got a lot of exciting guys coming through and it's a great platform for our team to kickstart our summer. This month we take on Pakistan in the UAE and then an exciting series at home against India. It's a very important phase for us in our preparation for the World Cup and we want to go there and be competitive. Income from the first T20 International, to be played here at the Sheikh Zayad Stadium, will be given to the flood affected people in Pakistan.-Agencies

LONDON: Former Manchester United Cristiano Ronaldo, who is worth £80 million, is dodging debt collectors who are trying to enforce a parking fine. The 25-year-old was hit with a £70 ticket after parking on double yellow lines in Manchester city centre while playing for the Red Devils. The fine, which was slapped on Ronaldo in 2008, has escalated into hundreds of pounds and the council has sent bailiffs to his mansion to seize some of his belongings. Two bailiffs from debt collection company Equita have visited Ronaldo's five-bedroom home in Alderley Edge, Cheshire, which he still owns, on at least two occasions. "These huge fellas arrived outside his house," the Daily Star quoted a neighbour as saying. "They were standing about for ten minutes with a clipboard, hoping someone would answer."They said it was worth a trip on the off-chance that he'd visited to check on the property," said the neighbour.-Agencies

Hockey camp to mend technical aspects: Alam ISLAMABAD: Pakistan Hockey team coach Ahmed Alam has said the main focus at the training camp commencing here at Naseer Bunda Hockey Stadium of Pakistan Sports Complex today would be on technical aspects for the 16th Asian Games to be held in China. Earlier, Pakistan Hockey Federation (PHF) selection committee summoned 22 players for the training camp but now it is augmented to 25 with the addition of Sohail Abbas, Khalid Bhatti and Abdul Qayyum Dogar. "We will be arriving at Islamabad on October 26," Ahmed Alam said. "Technical training and confidence build up will be the main thing that we are going to focus on in the training camp and only those players will be considered for the squad who are in good shape completely. So there is no

guarantee that all these players will be in the final squad," the coach told APP here on Saturday. He said with the inclusion of three more players I am hopeful that the team's confidence and performance would increase further. "As three more players have been added in the squad which has raised the level of our expectations and we expect strenuous training in the camp," he added. Alam said that an important aspect of the training camp is to build up team's lost confidence as is visible from the results of recently concluded Common Wealth Games. In order to perform well Pakistan hockey team would need to develop their confidence and should truly believe that they can be successful again, he said adding that the nation should shower all their best wishes and prayers for the team instead of criticising the team.-APP

KARACHI: Under the supervision of Sindh board winning teams of Valley Ball and Tug of war are present together with Chief Guest Deputy Director sports Shehzad Pervaiz Bhatti, Nassem Shaikh, Muhhamad Shahid, Abdul Razzak and other.-Staff Photo

EPL shines with United, Arsenal & Liverpool victory LONDON: Manchester United and Arsenal enjoyed landmark victories over Stoke City and Manchester City respectively on Sunday to stay on the coat tails of champions Chelsea in the battle for the Premier League title. Arsenal had not beaten any of their current big four rivals, Chelsea, United or Manchester City, for 18 months but helped by the fifth-minute sending off of Dedryck Boyata they triumphed 3-0 at Eastlands. Earlier, United ended a run of four successive away draws with two goals for Wayne Rooney's stand-in Javier Hernandez in their dramatic late 2-1 win at Stoke City. Chelsea, who beat Wolverhampton Wanderers 2-0 on Saturday, lead the standings on 22 points with the two Manchester clubs and Arsenal on 17.

Liverpool, normally challenging those sides for a Champions League slot, remain in the bottom three despite claiming their second win of the season when Fernando Torres's first goal since August secured a 2-1 Anfield win over Blackburn Rovers. Arsenal had Cesc Fabregas back pulling the strings in a league game for the first time in five weeks and he made a huge difference with a display full of promptings and probings. One of his passes, into the path of Marouane Chamakh, produced Boyata's mad moment with a rash trip outside the box. Arsenal soon made their numbers pay when Samir Nasri finished a neat move to open the scoring after 21 minutes and, although Joe Hart did well to save a Fabregas penalty, the Spaniard made amends by setting up Alex Song for the killer sec-

ond after 66. Nicklas Bendtner came off the bench for his second appearance of

the season to complete the scoring. "We played some outstanding football at times and it's very diffi-

LONDON: Manchester United's Hernandez celebrates his second goal against Stoke Citywith Fletcher during their English Premier League soccer match.-Reuters

cult to stop a team playing at that tempo," Fabregas told Sky Sports. "Even if they had 15 (players) and we had 11 we would still go and win." ROONEY REPLACEMENT After Rooney had hogged the headlines all week it was his standin Hernandez who was the toast of Manchester United fans after his double overcame battling Stoke. He opened the scoring with a dextrous back-header after 27 minutes but, as United eventually sat back to defend their lead, they looked to be heading for another draw when substitute Tuncay Sanli curled in a lovely equaliser after 81. Hernandez, however, topped an impressive all-round display by seizing on a loose ball to prod in the 86th-minute winner. "We never give in, we actually started to play after we lost the

goal," said United manager Alex Ferguson. "It's really difficult here as they really compete for everything. We got a bit careless but we managed to up our game just enough to get through." Liverpool remain in the relegation zone on nine points but there was a real feeling of relief around Anfield as they not only chalked up a rare win but played some enterprising soccer. Torres and Steven Gerrard, both rested from Thursday's Europa League trip to Naples, both looked sharp. Sotirios Kyrgiakos put Liverpool ahead early in the second half with a header and after a Jamie Carragher own goal in the 52nd minute, Torres grabbed the winner a minute later with his second goal of the season.Reuters


International & Continuation

Tuesday, October 26, 2010

US existing home sales rise, supply edges down WASHINGTON: Sales of previously owned US homes rose in September, but remained at subdued levels that did little to undermine the case for additional monetary stimulus next week from the Federal Reserve. Existing home sales increased for a second straight month, rising 10 per cent from August to an annual rate of 4.53 million units, the National Association of Realtors said on Monday. Although the increase far exceeded economists' expectations for a 4 per cent rise to a 4.30 million-unit pace, they remained below the 5 millionunit pace normally associated with a healthy market. "The September data shows that the post-tax-credit bust in home sales has come to an end and we are now on a gradual recovery path," said Zach Pandl, a US economist at Nomura Securities International in New York. US stocks extended gains on the report, while Treasury debt prices were steady at higher

levels. The US dollar trimmed losses versus the euro. The report came ahead of the Federal Reserve's meeting next week at which policymakers are expected to decide to inject more money into the economy through bond purchases, to drive borrowing costs down further and stimulate demand. The Fed cut overnight interest rates to near zero in December 2008 and has already bought about $1.7 trillion worth of Treasury and mortgage-related debt. The housing market is showing signs of having bottomed after hefty declines in the aftermath of the end of a popular tax credit for home buyers. Activity, however, remains very subdued and recovery will be very slow given a 9.6 per cent unemployment rate. Last month, the inventory of previously owned homes for sale fell 1.9 per cent to 4.04 million units from August, representing a supply of 10.7 months. The national median home

Eurostat also revised upwards the orders data for July. "The euro zone industrial orders data for August make very pleasant reading and not only lift hopes that industrial production will have made a very decent contribution to euro zone GDP growth in the third quarter but also boost hopes that the manufacturing sector can continue to do well in the fourth quarter," said Howard Archer, economist at IHS Global Insight. The August data was to some extent boosted by volatile orders for ships, planes and trains, but even without them the monthly rise in orders from industry was 4.1 per cent and the year-onyear number was 23.5 per cent.

CONTINUATION No #1

Continued from page 12

Rs0.81 billion against 1.9 billion during the corresponding period last year.-APP

No #2

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laboratories to meet 50 per cent enhancement in pay and pension liabilities at par with the other government departments. Shamshad Sattar Bachani, Pir Syed Fazal Ali Shah Jeelani, Chaudhry Mahmood Bashir Virk, Malik Shakeel Awan, Akram Masih Gill, Zafar Beg Bhittani and Begum Shahnaz Sheikh attended the meeting. -APP

No #3

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coming session in both the houses. The delegation members included Sardar Talib Hussain Nakai MNA, Muhammad Nawaz Allai MNA and Sardar Shahjahan Yousuf MNA. They also apprised the Prime Minister of the progress of ongoing development schemes in their respective constituencies. Furthermore, while talking to the Chairman Joint Chiefs of Staff Committee (CJCSC), General Khalid Shamim Wyne who called on him at PM House, Prime Minister Gilani said that despite economic constraints, the government would not ignore the defense requirements of the country and every possible step would be taken to maintain the level of minimum credible deterrence. He lauded the professional preparedness of the armed forces of Pakistan. The CJCSC briefed the Prime Minister about his recent visit to South Korea and his participation in the Chiefs of Defense (CHOD) Conference. He apprised him of his meetings with the military leadership of the participating countries. He also informed about the professional matters relating to the three armed forces of Pakistan. Prime Minister also congratulated General Khalid Shamim Wyne on his selection for conferment of Sitara Imtiaz (military) as an acknowledgement of his meritorious services for Pakistan Army. Overall security situation of the country was also discussed during the meeting. -Agencies

No #4

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"I am worried that they are trying to stage terror-like protests in the city centre," he told reporters. He said some veterans were planning to set cars on fire or blow up oil tankers near the summit venue in southern Seoul, where South Korea will host world leaders including US President Barack Obama for November 11-12. "We will never tolerate this and will respond sternly," said Cho. -APP

No #5

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Mexico spill to cost it more than 32.2 billion dollars, taking into account compensation as well as clean up costs. The oil spill, the worst environmental disaster in the United States, dealt a major blow to BP and forced out former boss Tony Hayward, who was heavily criticised by the media for clumsy handling of the spill response. -Reuters

No #6

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The benchmark Nikkei closed the day down 25.55 points at 9,401.16. The broader Topix fell 0.4 per cent to 821.23. Trade was

Japan export growth slows, feels pinch of yen TOKYO: Japan's exports trumped expectations in September, but the seventh consecutive slowdown in annual growth showed the economy was feeling the pinch from the strong yen and slackening growth in its overseas markets. The 14.4 per cent increase from a year earlier well exceeded economists' expectations, which some analysts

took as a sign that exports were proving more resilient to the currency's strength and global headwinds than some had initially feared. "The global economic slowdown and a strong yen indeed have had a negative impact on the economy but the data supports the view that the recovery trend has not disappeared," said Yoshimasa Maruyama, an economist at

Itochu Corp. Maruyama predicted exports to bottom out in the next six months and start regaining pace some time after that. The headline figure came above a market consensus forecast of a 9.6 per cent rise and just below a 15.5 per cent rise in August, Ministry of Finance data showed on Monday.-Reuters

NEW DELHI: India's trade deficit narrowed in September to a six-month price fell 2.4 per cent from low but the prospect of highSeptember last year to er crude oil prices could again widen the gap, the $171,700. But an investigation into the trade Secretary said on processing of foreclosures by Monday. The goods trade deficit has some banks is casting a cloud over the housing market, which ballooned in the past few cent to 6,105.80 points. Elsewhere, the FTSEurofirst 300 index was up 0.4 per cent by 1006 GMT, was the main catalyst of the months as Asia's third-largest while the MSCI's measure of Asian markets other than Japan gained 1.7 per cent.-Reuters economy imports large quan2007-09 recession. Continued from page 5 No #8 There are concerns that the tities of iron and steel, chemRs26.72 billion as against Rs22.54 billion in the identical period last year. Operating expenses are investigation could slow the icals and machinery to fuel a housing market correction as rebound in industrial growth. expected to scale up by 3.5 per cent to Rs5.4 billion compared with Rs5.22 billion during the corresponThe trade deficit can exac- ding period last year. Moreover, other income is also seen increasing by 23.1 per cent during the period. banks hold back foreclosures. "The current foreclosure (sit- erbate India's current account Continued from page 1 No #9 uation) is a potential negative. deficit, and adds to the need Bibi, Shakora Bibi, Aniba Bibi, Allah Ditta, Sarfaraz, Arshad and Iqbal. for India to attract fund Less foreclosures mean the The injured have been shifted to DHQ hospital while three injured have been shifted to Jinnah hossupply of these homes for sale inflows to finance the gap. pital in precarious condition. RPO confirmed 6 killings and several injuries in bomb blast and said Policymakers have said the that one injured is in precarious condition. He said that remote control bomb was planted in milk will go down and people will be more reluctant to buy them," deficits were matters of con- drum placed on a motorbike. He said that after bomb blast the mausoleum was closed and bomb dissaid Jim O'Sullivan, chief econ- cern but manageable but posals were sought. He further told that people were offering Fajr prayer at the time of blast. omist at MF Global in New some have said the shortfalls According to initial police report, the terrorists were between ages of 35 to 40. About ten-kilo make it easier for India to explosion was used in bomb. He also confirmed 6 deaths. Meanwhile, President Asif Ali Zardari, York. According to the NAR fore- absorb a surge in inflows of Prime Minister Yousuf Raza Gilani, four chief ministers, political and religious leadership has conclosed properties constitute capital -- the product of demned the blast outside the shrine of Baba Farid Ganj Baksh and said that elements involved in about 20 per cent of homes on super-loose monetary policy such incidents cannot be Muslims and they are anti-state elements who want to destabilise Pakistan. the market. The Realtors group in advanced economies. Furthermore, after the deadly bomb blast outside the shrine of Hazrat Baba Farid the security of "I still think that there is a all the shrines all over Pakistan have been beefed up. According to the details provided by the cautioned against any goverproblem, I think that we can- sources, apart from the increase in the number of security personals the administrations of these ment mandated moratorium. Last month foreclosed prop- not carry on having large shrines have been asked to improve the existing security conditions inside the shrines by only leterties accounted for 23 per cent goods trade deficits," Trade ting the entry routes open and strictly follow the security protocol by body searching the people thorof sales while short sales made Secretary Rahul Khullar said. oughly and be on the look out for any suspicious items. -Agencies "The numbers that are comup 12 per cent.-Reuters Continued from page 1 No #10 ing in now, they're still serimonthly fuel adjustment charges. After the hearing of the applications, Nepra rejected supplement ous, but it's not something to get up and start ringing alarm charges amounting to Rs95o million sought by central power purchase agency and decided to scale down power tariff by 36 paisas per unit. The new tariff will be applicable to all consumers and the benbells about," he added. Slower import growth in efit of reduction in tariff will be allowed to the consumers in the electricity bills of November. -Online September caused the trade Continued from page 1 No #11 deficit to shrink but Khullar sidelines of an industry event in Dubai. "The copper deposits are relatively low grade and we estipredicted the figure would mate the cash cost to be 85 cents per pound," Borries said. "Once production starts we are planning likely hover around the $10 to double our investment in the project, so we'll add another $3 billion," he added. billion mark on average in the The provincial government owns 25 per cent of the project, while the remaining is owned by coming months, noting that Tethyan Copper, Borries said. Under the current plan the government would need to come up with oil prices are forecast to rise. its own equity, but we can also finance them with a very low interest rate. We are also looking at Eurostat data showed the India's current account employing 90 per cent of the workforce from the local community." -Reuters increase was led by demand for deficit was about 3.7 per cent Continued from page 1 capital goods, used in invest- of gross domestic product in No #12 ment, which jumped 8.1 per the June quarter. Parliament and Opposition on recent strategic dialogue. According to details, PML-N said in the cent on on the month and 25.2 "As long as the current privilege motion that recent Pak-US Strategic Dialogue was very important but government did not per cent on the year. account deficit remains with- discuss with opposition, parliament and legislators about the dialogues. -Online In monthly terms, orders for in the neighbourhood of 2.5 Continued from page 1 No #13 durable consumer goods to 3 per cent, you are not in Shah, a former finance minister. "The issue is how the government is spending the money it is showed the second biggest any serious difficulty," already raising." Pakistan's tax to gross domestic product ratio is approximately 10 per cent, one of increase, rising 5.4 per cent, Khullar said. which boded well for household India's exports have risen the lowest in the world. "Asking donors for cash to reconstruct and rehabilitate the flood-affected consumption. this fiscal year in most sec- areas without looking inwards for relief shows the lack of political courage on the government's part," Industrial new orders translate tors including oil, plastics said Asad Iqbal, chief investment officer at Faysal Asset Management Ltd. Pakistan relies heavily on into industrial production, and iron ore, thanks in part to foreign aid. Its balance of payments is still vulnerable and the country is committed to $11 billion IMF which is the key component of higher prices and the base loan programme agreed to in November 2008. "The IMF and World Bank aid is linked to fiscal gross domestic product growth. effect of weaker year-ago reforms and bilateral agencies are also joining in. Pakistan at this point simply cannot survive without these external flows," said Sayem Ali, economist at Standard Chartered Bank Ltd. Economists expect growth to numbers, Khullar said. "There are key segments such as agriculture which are almost exempt from taxation," said Asif slow in the third and fourth However, an appreciating quarters of 2010 after a strong, rupee would hit exports when Qureshi, director at Invisor Securities Ltd. "Of course agriculture is the vote bank and most parliamentarians are from a rural background and so they try and keep outside the tax net to a large 1.0 per cent GDP increase quar- new orders are placed in the ter-on-quarter in the April-June coming months, he added.- extent," said Shah, the former finance minister. -Reuters period.-Reuters Reuters Continued from page 1 No #14 out sugarcane crushing soon, a private news channel reported Monday. Meantime, in Punjab, the ex-mill price of sugar has slipped to Rs79.50/kg from Rs81. The sugar price whittled down by one rupee to Rs78.50/kg in the wholesale market. Pakistan Sugar Mills Association's Chairman Javed Kiani told the news channel that a shipload of 20,000 tonnes of imported raw sugar is expected on thin on the TOKYO exchange's first section, with 1.40 billion Oct 26; of this five mills imported at least 4000 tonnes. Kiani said sugar price is expected to go shares changing hands, its lowest volume in a month. Declining down, as the crushing season has set in. -Agencies stocks outnumbered advancers by more than 2 to 1. Continued from page 1 No #15 Analysts said focus was on companies' currency assumptions on a front line thus they must be careful and limit their activities to a certain extent. for the year, and if a change in assumption rates will result in reviSources further added that formal report has also been sent to the MQM coordination committee sions to full-year earnings forecasts. "The market here will likely be rangebound until earnings reports by blue-chip exporters this in which it has been cautioned to all the leaders to restrict their activities. -Online week are out of the way. Many in the market appear to think their Continued from page 1 No #16 full-year guidance figures won't be very good," said Hajime briefing. It was disclosed that the total receivables of the company standing at Rs146 billion Nakajima, deputy general manager at Cosmo Securities. Toyota Motor Corp will lower its dollar/yen rate assumption by whereas PSO has to pay Rs85 billion to refineries, he added. Thus, a net gap of Rs61bn is still being 10 yen to 80 yen for the October-March second half of the busi- financed through bank borrowings. Thus there is no improvement in its receivables as cash starved ness year, which will cut its operating profit for the period by 150 government's first priority is to fund the fiscal deficit. billion yen ($1.84 billion), the Yomiuri newspaper said on Continued from page 1 No #17 Monday. Toyota closed down 1.1 per cent at 2,893 yen. Similarly, for some other products, any rise in domestic prices would be capped by low internaThe head of a Japanese steel industry body said on Monday the tional prices. It is important to note that prices of dairy products were already continuing on a secyen's current rate is too high and an appropriate rate for Japanese ular rise, even prior to the floods, due to sustained strong domestic and external demand. Livestock manufacturers would be around 90 yen to the dollar. losses in the flood would exacerbate this rising trend, but only to a small extent, the Report added. Still, investors were reluctant to sell Japanese shares too heavily on The Report also acknowledged that the worsening in most of the Pakistan's macroeconomic variprospects that Japanese corporate results in general would be good, ables has further complicated the monetary debate in FY11. traders said. "There is a limit to the anticipated amount of aggressive "On the one hand, there is the argument that the central bank should respond to the rising inflaselling of Japanese as we expect earnings in general to be strong," tionary pressures and excessive increase in the fiscal deficit, and on the other, the demand-shock said Mitsushige Akino, chief fund manager at Ichiyoshi Investment stemming from the flood damages argues for a countervailing monetary easing to help revive the falManagement. KDDI decided to launch the buyback because its tering economy," it added. State Bank's report for FY10 said that while developments marked an stock was depressed and it had no plans for major acquisitions or any improvement from the FY09, fundamental structural weaknesses in the economy remained unother big investments, Tadashi Onodera, who will step down as presaddressed. For example, some key reforms failed to gather traction: ident in December, told a news conference in Tokyo.-Reuters --persistent disagreements led to the deferment of a proposed expansion of the tax net through the Continued from page 5 No #7 introduction of a broad based GST-- the proposed restructuring of public sector enterprises, to Foreign funds have pumped in nearly $24 billion into Indian improve efficiency and lower the fiscal burden, did not take place-- after some initial work, there equities so far in 2010, adding to record $17.5 billion inflows seen was little or no progress in either resolving the energy sector debt chain (the so-called circular debt last year. R.K. Gupta, managing director of Taurus Mutual Fund problem) or substantially improving electricity supply. said the robust subscription to the Coal India's $3.5 billion initial Continued from page 1 No #18 public offering, the country's largest, has shown a lot of confidence pointed out that a substantial number of borrowers, 47,911 to be precise having loans of Rs500,000 in the strength of the market. Coal India's IPO was more than 15 and below were allowed write-off under BPD circular No.29. It was agreed in the meeting that the apex times covered at close last Thursday, giving the government power court must be facilitated by providing all necessary information/data and all efforts should be made to to price at the top end of 225-245 rupees range and building deal with respect to write-offs. The participants of the meeting were of the view that this initiative of momentum for other state offers. Financials led the rally on expecthe Supreme Court could be used as an opportunity and hoped that it would result in discouraging willtations of credit demand growth in the world's fastest growing ful defaults, improve recovery position and bring stringent laws on recovery. The meeting resolved that major economy after China. Leading lenders State Bank of India they are committed to adhere to the directives of the Supreme Court to satisfy the apex court. and ICICI Bank rose 1.2 per cent and 0.9 per cent respectively. Continued from page 1 Tata Motors climbed 2.8 per cent as a spokesman said the vehiNo #19 cle maker's Jaguar Land Rover is in talks with a Chinese automakwitnessed in the corresponding period last year. The decline in repatriation of profit is mainly driver to establish a manufacturing and sales joint venture in China. en due to contraction in earnings of foreign companies operating in the country primarily due to slowDr Reddy's Laboratories Ltd rose 1.3 per cent after the No. 2 down in local economy. Furthermore, depreciating Pak rupee in last three-year also contributed to drugmaker by sales reported on Saturday a 32-per cent jump in decline in dollar repartition. During the period under review, profit repatriation on account of foreign quarterly net profit, topping estimates. Metal makers rose as base direct investment (FDI) stood at $104.3 million which representing 83.5 per cent of total repartition metals climbed in London and Shanghai with London copper at 27- while on foreign portfolio investment (FPI) it stood at $20.6 million (16.5 per cent of total repartition). month high, as a weaker dollar lifted commodity plays. Non-ferTelecommunications sector remained the major contributor to this outflow in terms of dollar, as rous metals producer Sterlite Industries and aluminium producer their companies sent $50 million as against $37 million send abroad by the sector in 1QFY10. Hindalco rose 2.5 per cent and 4.3 per cent respectively. Tata Steel, Similarly, repatriation of profit by the financial business rise to $24.1 million compared to $4.4 world's seventh-largest maker of the alloy, firmed 0.7 per cent. million during the same period last year. Furthermore, power sector witnessed repatriation of $10 In the broader market, advancing shares outnumbered declining million against $5.1 million in the identical period last year.On the other hand, oil and gas exploones in the ratio of 1.4:1 on a robust volume of 457 million shares, ration companies have transferred $7.3 million profit/dividend in 1QFY11 by depicting 27 per cent provisional data showed. The 50-share NSE index gained 0.7 per decline against $10 million transferred in the same preceding period.

Eurozone Aug orders show record rise, to help GDP BRUSSELS: Euro zone industrial new orders rose much more strongly than expected in monthly terms in August and registered their highest ever increase year-on-year, data showed on Monday, pointing to robust investment and industrial output in the coming months. The European Union's statistics office Eurostat said industrial new orders in the 16 countries sharing the euro rose 5.3 per cent in August from July, for a 24.4 per cent jump year-on-year. The annual gain is the highest since measurements started in 1996. Economists polled by Reuters had expected a 2.1 per cent monthly rise and a 17.1 per cent annual gain.

India's trade deficit narrows to 6-mth low in September

11


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British Home Secy calls on President Zardari

Pak, UK put heads together on issues ISLAMABAD: President Asif Ali Zardari has said that Pakistan and UK share common stance to neutralise the threat posed by extremists' elements and underlined the need for greater international cooperation to counter the menace. He expressed these views while talking to Theresa May, British Home Secretary and Minister for Women and Equality who called on President Asif Ali Zardari at Aiwan-e-Sadr on Monday British High Commissioner Adam Thomson, Special Advisor Nick Timothy and other senior officials were accompanying the British

Home Secretary. From Pakistan side, Interior Minister Rehman Malik, Arbab Muhammad Zahir, Minister for Narcotics Control, M Salman Faruqui, Secretary General to the President, Yasmeen Rehman, advisor on Women Development, Senator Sughra Imam, Foreign Secretary Salman Bashir and other senior officials were present during the meeting. Matters related to Pak-UK bilateral relations and cooperation, strategic dialogue, fight against militancy, floods relief and rehabilitation works, trade access to EU for Pakistan's goods, multifaceted collaboration between

Pakistan and United Kingdom and various measures taken by the government for women development and empowerment were discussed during the meeting. The President, during the meeting said that Pakistan and the UK have longstanding relations which are based on shared interests and mutual respect. He emphasised the need to further strengthen strategic and cooperative ties between the two countries. President said that both the countries have a common enemy and both share common stance to neutralise the threat posed by extremists' elements. He, however underlined the

need for greater international cooperation to counter the menace. The democratic dispensation evolved domestic consensus against the extremists elements and all that is needed is capacity enhancement for effectively dealing with the threat of terrorism, he remarked. British Home Secretary and Minister for Women and Equality Theresa thanked the President for meeting and assured British government's continued support to the democratic dispensation in overcoming difficulties due to war against terrorism and the devastation caused by unprecedented floods. -Agencies

Japan co to buy stakes in $650mn

G20 Protest

BP sells four fields to pay for oil spill

Seoul on high alert

LONDON: British Petroleum is selling its interests in four Gulf of Mexico deepwater fields to Marubeni Oil and Gas of Japan for 650 million dollars just months after acquiring them, the British group said Monday. The cash deal comes as BP looks to sell up to 30 billion dollars (21.4 billion euros) of assets by the end of 2011 to help meet its financial obliga-

tions from the Gulf of Mexico oil spill. BP acquired the interests in the four fields -- Magnolia, Merganser, Nansen and Zia -from US group Devon Energy in March as part of a wider acquisition of assets in the Gulf of Mexico, Brazil and Azerbaijan. "When BP acquired Devon's Gulf of Mexico assets it was clear that these four fields did

not fit well with the rest of our business in the region," said Andy Hopwood, BP executive vice president, Strategy and Integration. "We therefore decided they would be of more value to another company than to BP," he added in a statement. BP hopes to complete the deal in early 2011. And it expects the Gulf of See # 5 Page 11

SEOUL: South Korean police are on high alert for "terrorlike" protests being planned by a group of former navy commandos during next month's G20 summit in Seoul, the country's police chief said Monday. National Police Agency chief Cho Hyun-Oh said that more than 100 veterans of the Underwater Demolition Team (UDT), an elite naval combat unit, plan "very violent" rallies to press their demands for bigger pensions. See # 4 Page 11

Corruption in Projects

BISP to enroll 5mn beneficiaries till June 2011

PAC seeks report

BISP, BB’s dream come true: Farzana

ISLAMABAD: Public Accounts Committee (PAC) while taking note of alleged corruption in utilisation of development funds for members of parliament has sought report from ministry of local government and rural development in respect of the development projects. PAC met here Monday under its chairman Chaudhry Nisar Ali Khan here Monday to review audit objects on Pakistan Railways accounts and misuse of official vehicles by respective departments. Chairman Prime Minister Inspection Commission told commission had 14 vehicles under it control which were used during the inspection of various projects. No one knows inspection commission is doing what", Chaudhry Nisar remarked. Chairman commission told the commission had inspected 10 projects last year and sent the report to prime minister. "We don't know what action has been taken in this respect", he added. Interior ministry told the committee that ministry was having 31 vehicles, NADRA, 143 and Islamabad administration 666 vehicles. Interior minister had only one vehicle under his use , ministry further told. Chairman APC directed the ministries to return the extra vehicles held by them or seek the approval in regard to their utilization. If misuse of any vehicle was proved after November, 1 then the responsibility would rest with respective secretary, he warned. Presenting audit para about Pakistan Railways, audit told 15699 out of 39132 additional land of Pakistan railway was being used effectively and the remaining 20357 acres land had gone under the illegal occupation of Qabza mafia. A 4-member special committee was constituted under Sardar Ayaz Sadiq which would present its report till November, 30 in this matter. -Online

ISLAMABAD: Nationwide poverty survey, being carried out under Benazir Income Support Programme (BISP), would be completed till June 2011, increasing the number of its beneficiaries up to 5 million families. She said that BISP is translating Shaheed BB's vision into reality and it has become an effective programme in the social sector of the country. Talking to APP, Chairperson BISP Farzana Raja said the process of survey is absolutely free and the only prerequisite to be part of survey is holding of National Identity Card (NIC). She said that the poverty survey has been started throughout Pakistan and survey teams of the BISP would be visiting door to door to collect the data of deserving families. "This nonpartisan-based countrywide poverty survey is translating the dream of Shaheed BB into reality and the data collected under the survey would help develop social sector programmes for the coming years," she said. Terming it a milestone step for poverty reduction from the country, Farzana

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Tuesday, October 26, 2010

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NA body urges to acquire new tech ISLAMABAD: National Assembly Standing committee on science & technology Monday emphasised that technology must be introduced to take maximum benefit from Thar coal. The committee met under the chairmanship of Dr Abdul Kadir Khanzada in PCSIR head office. Evaluating the performance of different departments of PCSIR the committee recommended that technology be developed to utilise the indigenous materials available in the country in the field of science & technology to save the foreign exchange, said a press release. The committee recommended that sufficient funds be released for the PCSIR See # 2 Page 11

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275,850 tonnes gasoline sold in 1Q

PSO sales soar to record high ISLAMABAD: Pakistan State Oil (PSO) sold 275,850 tonnes of gasoline in first quarter of the current financial year which is the highest ever quarterly sales in its history. However, the quarter was marked by downward trend in the country's fuel consumption due to the devastation of communication infrastructure and closure of some power entities caused by the recent floods, the company's official said. Despite the company's market share in the black oil and white oil segments stood at 82.2 per cent and 54.7 per cent respectively contributing to an overall market share of 68.4 per cent, the official said. The source said the overall black and white oil consump-

tion was down by 6.9 per cent. In white oil the industry was down by 5.8 per cent, while black oil consumption was down by 7.9 per cent in the period under review. However, during the second quarter of the financial year with the onset of rehabilitation and construction activities in flood affected areas, involving increased transportation, HSD consumption in the country is likely to improve. Furthermore, with winter approaching fuel oil and Mogas consumption is expected to witness a surge due to shortfall of gas which will have a positive impact on PSO's market share. During the period the company registered profit after tax of See # 1 Page 11

Political leadership serious towards national issues

Democracy hinges on House supremacy: PM Minimum deterrence to be maintained: Wyne meets Gilani ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has said that supremacy of the Parliament is imperative for promotion of the democratic culture and ensuring good governance in the country. He further said that the quality of debate and business of the Parliament show the seriousness of the political leadership towards national issues and their settlement. He was talking to Minister of State for Parliamentary Affairs,

Mehreen Anwar Raja who called on him along with a group of the Parliamentarians at PM House here Monday. Prime Minister stressed the need of taking the Opposition criticism in a positive perspective and special effort should be made to establish a cordial working environment. He also asked the MOS for Parliamentary Affairs that coordination between the Government and the Parliament in connection with the legisla-

tion should be maintained and bills of immediate nature should be prioritised. He said every possible support should be provided to the Parliamentary Committees in their conduct of business so that legislations could be expedited and made more meaningful. Mehreen Anwar Raja briefed the Prime Minister about the details of scheduled Parliamentary business of the See # 3 Page 11

said the government of Pakistan People's Party is striving hard to improve the lot of the poor segments of society following the vision of Shaheed Mohtarma Benazir Bhutto. The programme was initiated to serve the poor people of Pakistan and it's not a tool to achieve political mileage. Therefore, various prestigious international organisations are ready to assist BISP keeping in view its transparent mechanisms and its non political and nonpartisan based coverage. Farzana said the pro-poor initiatives of BISP are not just limited to Rs one thousand monthly income supports. It is a comprehensive programme aiming at poverty reduction from the country considerably. The vocational training under Waseela-e-Rozgar has already been launched in Khyber Pakhtunkhwa which will also be expanded to other parts of the country as well, she said. The Chairperson said that the government of Pakistan Peoples Party would complete its five-year term. -APP

Nato jets pound hideouts in Helmand

Nato blitz mows down 15 Taliban KABUL: At-least 15 insurgents were killed in a Nato-air strike overnight in southern Helmand province, a spokesman for the alliance said Monday. US Captain Ryan Donald, a spokesman for the Nato-led International Security Assistance Force (ISAF), said he had heard allegations of civilian casualties but they had not been backed up by reports. "Current reports show we only killed Taliban. We are aware of allegations of civilian casualties," he said, adding in addition to the 15 dead, six insurgents were detained. A spokesman for the provincial governor said initial reports showed up to 15 militants may have died, including two Taliban commanders, and he had

not received reports of any civilian deaths. Foreign forces in Afghanistan have stepped up the use of air strikes in recent months since General David Petraeus took control of US and Natoled troops in the summer, as they try to go after mid-level insurgent commanders. Dawood Ahmadi, spokesman for the governor of Helmand, said initial reports from intelligence officials showed up to 15 militants were killed, including two commanders. "We have had no reports of civilian casualties but we are still investigating," said Ahmadi, adding the raid had taken place in Baghran district, a remote area in the north of the province where there was no government presence. -Reuters

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The Financial Daily-Epaper-26-10-2010