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International Karachi, Wednesday, October 27, 2010, Zul-Qa’dah 18, Price Rs12 Pages 12

Full-scale help for B'stan vowed

SAfrica beat Pakistan by six wickets in T-20 Indonesia tsunami kills 113

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Change tack on India, Pak urged

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Gilani inaugurates cargo handling terminal at Port Qasim

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% $1,051 170.89mn

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

Pro-investment plans afoot: PM Says govt committed to growth, prosperity of country PM discusses law and order, post-flood measures with CM

'Q' voted me to become PM: Gilani

Portfolio Investment SCRA(U.S $ in million)

75.39 26.17 11.21 2505

Yearly(Jul, 2010 up to 25-Oct-2010) Monthly(Oct, 2010 up to 25-Oct-2010) Daily (25-Oct-2010) Total Portfolio Invest (15 Oct-2010)

NCCPL

Staff Reporter

(U.S $ in million)

FIPI (26-Oct-2010) Local Companies (26-Oct-2010) Banks / DFI (26-Oct-2010) Mutual Funds (26-Oct-2010) NBFC (26-Oct-2010) Local Investors (26-Oct-2010) Other Organization (26-Oct-2010)

1.55 -0.09 -1.39 -0.31 -1.12 1.53 -0.17

Global Indices Index Close KSE 100 10,658.15 Nikkei 225 9,377.38 Hang Seng 23,601.24 Sensex 30 20,221.39 ADX 2,826.30 SSE COMP. 3,041.54 FTSE 100 5,705.96 *Dow Jones 11,155.00 *Last Updated 20:00 PST

Change 45.56 23.78 26.67 81.73 6.79 9.88 46.02 9.05

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 2.60 111.55 19.10 163.90 2.00 42.91 1.70 36.47 9.95 34.15

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% 12.77% 12.99% 13.22% 13.61% 13.71% 13.64% 13.74% 13.83% 14.23% 14.36% 14.52%

20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010

Commodities *Crude Oil (brent)$/bbl 83.45 *Crude Oil (WTI)$/bbl 82.43 *Cotton $/lb 127.04 *Gold $/ozs 1,333.70 *Silver $/ozs 23.53 Malaysian Palm $ 987.40 GOLD (NCEL) PKR 37,081 KHI Cotton 40Kg PKR 8,895 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 85.10 Canadian $ 85.10 Danish Krone 14.80 Euro 118.60 Hong Kong $ 11.00 Japanese Yen 1.050 Saudi Riyal 22.90 Singapore $ 65.36 Swedish Korona 12.20 Swiss Franc 88.00 U.A.E Dirham 23.20 UK Pound 135.50 US $ 85.90

85.20 85.30 15.20 119.10 11.30 1.076 23.10 65.60 12.70 88.50 23.50 136.00 86.30

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

85.09 84.22 16.08 119.90 11.07 1.063 22.91 66.39 13.06 88.38 23.39 135.13 85.81

85.29 84.42 16.11 120.18 11.10 1.066 22.96 66.55 13.09 88.59 23.45 135.44 85.99

Weather Forecast CITIES

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28°C 35°C 30°C 31°C 24°C 29°C

MIN

9°C 21°C 15°C 14°C 0°C 11°C

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KARACHI: PM Syed Yusuf Raza Gilani praying after inauguration ceremony of Fauji Akbar Portia Marine Terminal and Fertilizer at Post Qasim. APP

Pakistan 34th among world's most corrupt

Corruption on rise in Pak: TI Lack of political will forces SC suo moto actions Rule of law, easy access to justice needed: Gilani Staff Reporter KARACHI: Despite government's tall claims of dealing the pressing problems in the country from rehabilitation of flood-affected to declining financial situation, corruption remains an obstacle to attain much needed output. This was revealed in the latest edition of Transparency International Report released here Tuesday depicting Pakistan's stepping down to the rank of 34th from previous 42nd in the index indicating serious corruption problems. Pakistan's Corruption Perceptions Index score was 2.3 against 2.4 in 2009 and out

of 178 countries its ranking slipped down 7 ranks while nearly three quarters of the countries - listed in the Index score below 5 points on a scale from 0-to-10, where 0 indicates to be highly corrupt and 10 stands for low levels of corruption. Chairman, Transparency International, Pakistan chapter Syed Adil Gilani while talking to the media here said that last two years proved to be the worst where tens of billions of corruption cases came to fore in public sector organisations, which should have been taken by the National Accountability Bureau but due to delay in the formation of an independent

PM Gilani says yes to the tax reforms

RGST Bill to be tabled on Nov 1 Cabinet takes stock of issues today ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has accorded approval to present Reformed-GST (RGST) Bill in National Assembly (NA) session starting from November, 1 for its approval from parliament. RGST bill which is being presented in mini bill will be applicable from November, 1. Earlier it was to be implemented from October, 1. However the international monetary agencies had shown willingness for its deferment for 3 months in the wake of devastations caused by the floods. According to Prime Minister House sources FBR through ministry of finance had sent a summary to prime minister for his approval and the prime minister nodded yes on

Tuesday. The provinces have also agreed over this bill and it will stand implemented across the country simultaneously. Furthermore, Prime Minister Syed Yousuf Raza Gilani will chair the federal cabinet meeting in Lahore on Wednesday (today). During the meeting Cabinet is likely to give the approval of implementation of the GST reforms. According to sources of PM House, several issues including rehabilitation of flood affectees and law and order situation especially the uncertainty in the country after recent bomb blasts series at shrines would be discussed in meeting. As per sources that Foreign Minister Shah Mahmood See # 23 Page 11

Accountability Commission from the government side the situation may further aggravate the corruption. "Lack of political will forced Supreme Court of Pakistan to intervene by taking suo moto actions against mega corruption charges in NICL, PSM, and RPPs," Gilani added. Gilani said "Due to rampant corruption commodities prices are continuously on the rise and according to the FBS data prices of the essentials have gown up by 120 per cent in last one year." "Foreign Direct Investment is also waning due to See # 22 Page 11

Tareq Aziz sentenced to gallows BAGHDAD: Iraq's supreme criminal court sentenced former deputy prime minister Tareq Aziz to death on Tuesday, the first death sentence handed down against the long-time international face of the Saddam Hussein regime. "The supreme criminal court issued an execution order against Tareq Aziz for his role

in eliminating religious parties," state television reported. It said that the court also ordered death sentences against two other top Saddam lieutenants, former interior minister Saadoun Shaker and Abid See # 24 Page 11

KARACHI: Prime Minister Syed Yousuf Raza Gilani has declared that government is committed to the growth and prosperity of the country, and in this regard various plans are in the progress to create conducive and investment-friendly environment. Prime Minister expressed these views while inaugurating Cargo Handling and Storage Terminal at Port Qasim here on Tuesday. It has been built at a cost of $135 million to accommodate large vessels. Prime Minister said government is always seeking new avenues to facilitate and encourage foreign investment through provision of incentives and business-friendly policies in the ports and shipping sector. PM Gilani said the state-ofthe-art terminal is a gift to the people of Pakistan as it will

KARACHI: Prime Minister Syed Yousuf Raza Gilani has said that PML-Q had supported him in becoming prime minister. "There is no harm in having meetings with PML-Q. It had cast vote in my favor during election for premiership. Therefore we are going ahead with the spirit of reconciliation. Law minister meeting with PML-Q leader is not number game", prime minister said this while talking to media men after his visit to shrine of Abdullah Shah Ghazi here Tuesday. Those who had installed rental power plants had fled; he said, adding 1700 megawatt electricity will come in the system by the end of this year. See # 17 Page 11 help reduce cost, ensure speedy loading and unloading and prevent wastage. It will also ensure that agricultural commodities are handed according to highest international standards. He said ports are vital to economic development of the country as efficient ports and terminals lower cost of imports, bring revenue through exports, increase foreign exchange and enhance tax collection. He hoped the terminal would help people by reducing food inflation, which is hurting most of the poor people. Prime Minister said Port

Qasim is one of the busiest ports, contributing significantly to the economic activity and world class facilities like this terminal would further contribute to our GDP. It will help Pakistan achieve its goal of becoming a strategic hub for regional trade. He said Port Qasim can only accommodate thirty-thousand tonne dry bulk vessels due to outdated terminal and depth of the channel. The new terminal is built to accommodate vessels of seventy-five thousand tones capacity. However, due to shallow depth See # 18 Page 11

Nasdaq trade screen, closing bell ceremony to be used for donation appeal

Pak businessmen in US step in for flood relief Special Correspondent NEW YORK: After utter failure of Government of Pakistan in getting the full advantage from Nasdaq trade screen, and its closing bell service, now Pakistani business community in United Sates of America decided to

step in to help out their flood-affected brethren in Pakistan. Pakistani Business Community in US is now taking an initiative to fundraise for the flood-affected by organising a program on October 29th by using the services offered by Nasdaq.

Survey and land acquisition for IP starts

Can’t afford IP delay: Qamar ISLAMABAD: Minister for Petroleum and Natural Resources, Syed Naveed Qamar said Tuesday that during last one year 37 blocks were awarded for gas exploration in different areas to meet growing energy requirements of the country. On a question about media reports of increase in petrol prices, he said it is Oil and Gas Regulatory Authority (OGRA) which determines the petrol prices in accordance with international trend. He said process of survey and land acquisition for

Pakistan-Iran Gas Pipeline has started and added that Pakistan needs gas and "we cannot afford delay in execution of this major project. Pakistan would suffer in case of delay, he added. "Since taking charge as Minister one year ago, we have awarded 37 blocks for gas exploration which is a record. Previously, this number was only 5 or 6 blocks issued in one year for exploration," In a telephonic conversation, the Minister said "We need to be realistic that our production is See # 19 Page 11

These details were disclosed by Waqar Ali Khan, Vice Chairman US-Pakistan Business Council while talking to The Financial Daily here. Nageeb Ghauri of NetSol is playing the key role in this campaign. According the Pakistani See # 20 Page 11

Obama phones Zardari, moots issues ISLAMABAD: US President Barack Obama telephoned President Asif Ali Zardari Tuesday evening and held a detailed conversation covering several important subjects. Both Presidents welcomed the substantial progress made at the recently concluded Third Round of the Strategic Dialogue and underscored the importance of forging a comprehensive partnership between the US and Pakistan. President Obama in particular reiterated his strong support for democracy in Pakistan and See # 25 Page 11

SC grants time to AG in amended National Accountability (Amended) Ord case

SC seeks documentations of RPPs ISLAMABAD: The Supreme Court of Pakistan on Tuesday directed the counsel for the ministry of water and power to submit till Oct 28, complete record regarding biddings, determination of tariff and enhanced demand for power generation pertaining to

the rental power plants (RPPs) issue. A three-member bench comprises Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalil-ur-Rehman Ramday took up a human rights issue concerning setting up of rental power plants. The bench questioned how

the demand for power generation of 200 megawatts through RPPs, which had been decided in a Cabinet meeting on March 27, 2008, could be enhanced up to 438 megawatts. "In 2006, it was a policy which was not successful and we wanted to know was it a part of the present policy? All

contracts have policy standards but here we do not see such things," he added. Chief Justice said it was Court's duty to ensure implementation of fundamental rights. Furthermore, Supreme Court of Pakistan granted time to the Attorney General for Pakistan (AGP) on the issue of

promulgation of National Accountability Amended Ordinance (NAO) 2010. A three-member bench comprising Justice Tassadduq Hussain Jillani, Justice Khilji Arif Hussain and Justice Asif Saeed Khan Khosa adjourned hearing till next week on a constitutional petition filed by

Syed Zafar Ali Shah, senior lawyer. An identical plea of Shahid Orakzai was also fixed before the bench. Attorney General Maulvi Anwar-ul-Haq apprised the bench that he was out of the country and arrived yesterday therefore, he required some time over the issue. -Agencies


2

Wednesday, October 27, 2010

'Turnaround in Zamzama field would cripple industries'

KCCI rejects SSGC gas-cut decision M Imran Sharif

KARACHI: Sindh Governor Dr. Ishratul Ebad Khan talking to representatives of Shershah Market during a meeting at Governor House.-APP

BOC appoints new Chief KARACHI: The Board of BOC Pakistan Limited (BOCP), a member of The Linde Group, today announced that Yousuf Husain Mirza has been appointed Chief Executive and Managing Director of the company effective 27 October 2010, succeeding Syed Ayaz Bokhari who has elected to resign to pursue other opportunities. Yousuf Husain Mirza is currently the Vice President, Gases, responsible for Operations, Distribution & Customer Engineering Services, Safety, Health, Environment & Quality (SHEQ), Procurement, Marketing and Tonnage Sales. Mr. Mirza joined BOC in Pakistan in 1992 as an engineer, and has held a variety of senior country and regional leadership roles in Linde's subsidiaries in Pakistan, Philippines and Malaysia.-PR

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

Programmes Chai Time (Rpt) News Pehla Sauda News Bazaar News Ghar Ka Kharch News Islamabad Say (Rpt) News Power Lunch News Akhri Sauda Agri Business (Rpt) Karobari Dunya Ghar Ka Kharch Chai Time News Mang Raha Hai Pakistan News Islamabad Say Pakistan Aaj Raat News Doosra Pehlu News Awam Ki Awaz (Rpt)

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

Shershah traders call on Governor KARACHI: Sindh Governor Dr Ishrat-ulEbad Khan said on Tuesday that the attention of the government is on cleansing the metropolis of every sort of `mafias'. An official statement said that he was talking to a delegation of the shopkeepers of Shershah Market at the Governor House here on Tuesday. The Governor said that the tragic event at Shershah Market shocked the entire country. He stated that the coalition parties and the law

enforcement agencies were working on various options to rid the city of the menace of terrorism. The delegation of traders apprised the Governor of the details of the incident and requested that security arrangements be made on permanent basis. The Governor assured the members of the delegation that the pickets of police and rangers would be set up. He also informed about the measures that have been taken by the Sindh Government so far.-APP

Marri for speedy work at Gorakh Hill

CCP issues notices to eighteen poulterers ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued show cause notices to 18 poultry feed mills for prima facie engaging in cartelisation and collusive price fixing practices prohibited under Section 4 of the Competition Act 2010. The poultry feed mills have been asked to submit their written arguments within fifteen days, and to appear before the Commission on 23 and 24 November 2010. All these mills are members of Pakistan Poultry Association (PPA). These Show Cause Notices come in the aftermath of the recent PKR 50 million fine imposed by CCP on the PPA for cartelising the poultry industry. Earlier the CCP undertook investigation of the Pakistan's poultry industry based on news reports pertaining to high prices of day-old chicks and exorbitant increase in the prices of poultry feed. Upon preliminary investigation, the CCP observed that Pakistan Poultry Association served as the nerve-center that connected the different sectors of the poultry industry.-NNI

KARACHI: Sindh Minister for Tourism Shazia Marri has directed the concerned authorities to pace-up the work on Gorakh Hill Resort to provide recreational facilities of a hill station to the people of the province. This she directed while presiding over a meeting to review the progress of work on the scheme, at her office, here today. The Secretary Tourism Sindh Rabiya Javeri Agha, the Director

General, Gorakh Hill Development Authority (GHDA) Abdul Qadir Mangi, Director Finance Dilawar Mangi and Deputy Secretary Tourism Wali Muhammad Qureshi attended the meeting. The meeting was told that Sindh Tourism Department is working for the development of an eco-friendly summer resort at Gorakh Hills situated in the Dadu District.-APP

Tara Dawood to lead MF association in Chile

Pak mediamen to be trained in America

KARACHI: The CEO, Dawood Capital Management Tara Uzra Dawood been invited as speaker and expert on Islamic Financial System and practitioners in Mutual Fund industries to represent Mutual Funds Association of Pakistan. She also made substantial contribution in 15th Asia Oceania Regional Conference 2010, that was held in Malaysia, this year. The World Wide International Investment Funds Association (IIFA) Conference with the representation of 64 Countries Mutual Fund Association being held in ViĂąa del Mar, Chile.-PR

Book on privatisation launched ISLAMABAD: A book discussing the privatisation culture titled "Examining Privatisation in Pakistan: 2006-2010" was launched here today by Individualland, a private research organisation, it has been learnt. Speaking on the occasion, Gulmina Bilal Ahmed, author of the book, said that Pakistan confronted multiple challenges at present. "Terrorism, rehabilitation of flood affected people and a weakening economy, all point towards an administration crisis that the government has been facing for the last few years".PAPP

Staff Correspondent ISLAMABAD: As Secretary Clinton announced during the Strategic Dialogue in Washington, DC last week, the US Embassy is sponsoring journalists to attend professional development programs in the United States. The program will include an orientation program in Washington, DC followed by individual internships at US media outlets throughout the country. The US Embassy is sponsoring approximately 100 Pakistan participants to travel to America in 2011 and 2012. Additionally, the program will bring US journalists to Pakistan for programs with

Pakistani colleagues. "This program will involve journalists from both Pakistan and the United States working together and building real professional relationships," said Brent Beemer, Cultural AttachĂŠ. "These journalists will have the opportunity to learn about media reporting in each other's countries, and to report back to their audiences about what they see and experience firsthand." The United States Educational Foundation in Pakistan is recruiting and accepting applications for the program. English and non-English speaking, professional working journalists are eligible, and young journalists are particularly encouraged to apply.

KARACHI: Members of Karachi Chambers and Commerce Industries (KCCI) have vehemently rejected the decision of SSGC to do the annual turnaround for Zamzama Gasfield, resulting in the shortage of gas supply, from Oct 27 to Nov 4, said a joint statement issued here. Chairman Businessmen Group & former President-KCCI, Siraj Kassam Teli; Vice Chairmen Businessmen

ding of 10-14 hours arising because of annual turnaround would further cripple the economic wheel as it simply suggest industries and manufacturing concerns to close facilities for the designated eight-days. SSGC is suggesting KESC to run on furnace oil which is not a possibility as the furnace oil available is not of that quality/ quantity and secondly PSO only supplies on cash basis, the statement said. The business and industrial community forcefully

Plan approved in Pak-US dialogue

Agro-projects start next month ISLAMABAD: Minister for Food and Agriculture, Nazar Muhammad Gondal has said the implementation process of approved agricultural development projects under Pakistan-US Strategic Dialogue will start from next month. Highlighting the areas of bilateral cooperation in agriculture sector during the talks, the minister said, it dwelt on increasing wheat and cotton production and controlling their diseases in Pakistan, water management and water shortage, provision of seed and fertiliser to help boost the agricultural sector.

In an interview, he said allocations were also approved for various agricultural projects including $9 million for wheat production and rust disease prevention, $9 million for cotton production and disease prevention, the same amount for prevention of food and disease in livestock and some other programmes. Nazar Gondal, who was also part of the delegation that attended the Dialogue in Washington, said the projects would also be financed under KerryLugar Bill and USAid. "We had informed the

US our needs and they tried to meet our demands as per their resources. We have always talked about trade not aid. We are trying to further strengthen our trade with US," he said, adding that during dialogue, mangoes export to the US had also been accorded approval. Answering a question, he said grants for water management and water shortage projects had already been approved and even allocation for these projects had been earmarked. The implementation work on these projects would start soon, he added.-APP

KARACHI: The Joint Committee of the ICAP and the ICMAP has conferred "Best Corporate Report Award" to First Habib Modaraba (FHM) in the category of Non Banking Financial Institutions (NBFI). The NBFI is one of the largest sectors comprising of insurance, leasing, investment banks, mutual funds and modarabas having more than 100 listed entities.-Staff Photo

Fatimid, SU set up blood donation camp HYDERABAD: The Fatimid Foundation Hyderabad in collaboration with The Bureau of Stags University of Sindh organised a Blood Donation Camp at Allama I I Kazi Campus Jamshoro on Tuesday. A large number of male and female students and teachers visited the blood donation camp. Around 30 male and female students as well as teachers donated their blood. Administrator of Fatimid Foundation Dr Rab Nawaz Memon, Advisor of the Bureau of STAGS Prof Muhammad Yousif Pardesi and others supervised the arrangements.-APP

Sugar advisory board meeting held

KARACHI: Amjad Parvez Janjua MD & CEO Asia Petroleum Ltd. receiving 1st Global CEO Excellence Award from Federal Minister for Petroleum & Natural Resources Naveed Qamar.-Staff Photo.

Group & former Presidents-KCCI, Tahir Khaliq; M Zubair Motiwala, Haroon Farooki and Anjum Nisar, Muhammad Saeed Shafiq, President, Karachi Chamber of Commerce & Industry; Talat Mahmood, Senior Vice President and Junaid Esmail Makda, Vice President KCCI termed the gas-cut as a strange activity heard for the first time in 62 years and apparently to be done every year on annual basis. The massive load shed-

ISLAMABAD: The Sugar Advisory Board (SAB) meeting was held here on Tuesday under the chairmanship of Federal Minister for Industries and Production Mir Hazar Khan Bijarani. The meeting was given a detailed presentation by Cane Commissioner MINFA on the post flood situation.-APP

reject such kind of activity and request the President, Asif Ali Zardari, Prime Minister, Yousuf Raza Gillani and Federal Minister for Water and Power, Raja Pervez Ashraf to look into the matter on urgent basis and defer turnaround period to the winter season (Dec-Jan) when the electricity load is cut by 10-15 per cent and the load on KESC would be comparatively less when such activity could be accommodated with less hours of announced load shedding.

Dawlance brings automated washing machine Staff Reporter KARACHI: Dawlance recently launched its latest H-Zone range automatic washing machine, enhancing their category range a step firther. Speaking about the launch of Dawlance HZone Automatic Washing Machine, Mehmood Ahmed Category Manager Washing Machines said, "Dawlance H-Zone Washing Machine is a breakthrough in washing technology. The new front load H-Zone automatic washing machine with the Air Wash feature sterilises the clothes which cannot be cleaned on a frequent basis." This machine, apart from functioning as a regular automatic washing machine, has a revolutionary Air Wash feature that turns air into Ozone (O3) to sterilize, kill bacteria and remove odour from products like cushions, school bags, gloves, leather jackets, hand bags, high heels, business suits, delicate women's clothes and stuffed toys.

LCCI to follow SBP directives LAHORE: The State Bank of Pakistan (SBP) annual report is an eyeopener for both the policy makers and stakeholders and calls for effective policies with top-to-bottom implementation mechanism to regain macroeconomic stability during the ongoing year. In a joint statement issued here Tuesday, the LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar said that the existing structural weaknesses in the economy, pointed

out by the State Bank of Pakistan, require improvement in macroeconomic discipline as well as continued reforms to improve the resilience of the economy. The LCCI office-bearers said that the government should focus on improving productivity, strengthening of public institutions, stabilisation of economic governance and building social safety nets to protect vulnerable segments of the population. They said that because of the recent devastating floods in the country, various FY11 macroeconom-

ic targets have suffered serious setbacks and the government would not be able to achieve chief economic targets such as GDP, inflation, monetary growth, fiscal deficit, and current account deficit unless and until a well thought-out strategy is evolved in consultation with trade and industry representatives. The LCCI office-bearers said that the government's inability to restructure the revenue-sucking public sector enterprises, and the failure to resolve circular debt was also hitting the economy hard.-APP

MoU signed between PBIT and CWPF

Chinese foundation to invest in Punjab LAHORE: A facilitation MoU was signed between China World Peace Foundation (CWPF) through its Chairman, Dr Li Rou Hong and Punjab Board of Investment and Trade (PBIT) through its Chief Executive Officer (CEO), Saadat Muzaffar. Punjab Board of Investment and Trade (PBIT) is facilitating foreign investors interested in exploring investment, trade opportunities in

Punjab. According to a press release on Tuesday, Chinese investors showed their interest in infrastructure projects, including roads, housing and airports in different cities of Punjab. Likewise, CWPF also showed keen interest in livestock and dairy development, including value addition, dairy related commodities (inclusive of milk processing) and

improving the genetics of cattle herd for obtaining higher lactation in milk and beef breed animals. Chinese foundation would also initiate energy projects with a particular focus on solar energy and extraction of iron ore in Punjab. The purpose of the MoU signed is to provide the framework for a partnership arrangement between PBIT and CWPF.-App


3

Wednesday, October 27, 2010

US dollar rallies as euro again fails to break $1.4000

Swiss franc near flat

Yen up; Japan finmin says to take steps on FX if needed NEW YORK: The US dollar rose as the euro again failed to hold above the $1.4000 level in the prior session leaving investors wary of betting against the greenback on Tuesday. The Swedish crown and sterling were also actively traded after the Swedish central bank, which raised interest rates as expected, said future rate increases would be more gradual than expected, while the British economy grew more than expected. Overall however, uncertainty over the extent of quantitative easing measures the Federal Reserve may take next week kept foreign exchange trading in predictable ranges. Euro/dollar "has struggled to break sustainably above $1.40," said Camilla Sutton, chief currency strategist at

Scotia Capital in Toronto. "We still expect this will be the next move, however if it is unable to do so soon, we might see some temporary weakness before markets have enough

conviction to push it above this level," she said. Midway through the New York session, the euro fell 0.7 per cent to $1.3860 after failing to close above $1.4000 on Monday. The euro has support at 1.3860, its low on Friday, and its 21-day simple moving average at $1.3866. The euro fell to a session low

after a report showed US consumer confidence rose slightly in October but then recovered though it was still down on the day. The move back below $1.4000 was viewed as signifi-

cant given the euro had failed several times in recent days to break through and hold that level. The dollar rose against the yen, edging away from 15-year lows after Japan's finance minister Yoshihiko Noda warned the government would "act decisively" in currency markets if needed. The dollar was up 0.6 per

Asian currencies

Mostly strengthens, peso outperforms morning. Dollar/peso NDFs were bid down across the curve with the most liquid onemonth dollar/peso NDFs falling to 43.19, some 15 points higher than the spot and implying a 0.05 per cent onemonth fall from the spot. "The peso and Asian currency rally has been spurred by the G20 meeting agreements. The Phillipine August trade surplus has also helped the peso a little," a Manila-based dealer said. The South Korean won rebounded from morning weakness when it was hit by a warning of the Finance minister of a possible move to curb inflows

into Asia's fourth-largest economy. Finance Minister Yoon Jeung-hyun said on Monday the government was preparing various measures to smooth volatility in cross-border capital flows and would decide whether to adopt steps after the next month's G20 summit. The won was quoted at 1,115.9 per dollar at 0536 GMT against a 1,116.3 close on Monday. The Thai baht rose one fifth of a per cent to around 29.87 per dollar after a long holiday weekend in Thailand, and ahead of comments from Fed Chairman Ben Bernanke due later on Tuesday. -Reuters

Sterling rallies after strong UK GDP

Taiwan dollar eases on cbank move

LONDON: Sterling rallied broadly on Tuesday, boosted by much better-than-expected UK economic growth data and a vote of confidence in the government's management of the economy from ratings agency Standard and Poor's. The pound was poised for its best daily gain versus the euro since June after JulySeptember GDP rose 0.8 per

TAIPEI: The Taiwan dollar edged lower on Tuesday from a more than two-year high on apparent central bank intervention, but monetary easing in the United States is expected to push the unit back up. The Taiwan currency ended at T$30.76 per US dollar, compared with its Monday close of T$30.73. Tuesday's final price followed what dealers described as customary late-session intervention by Taiwan's central bank to rein in sharp gains in the currency since late September. Prospects of US monetary easing helped push the Taiwan dollar on Monday to its strongest final price since Aug. 5, 2008. The central bank bought $4.98 billion worth of US dollars over the month ended Oct. 25, according to a survey of traders compiled by IFR Markets. Taiwan's currency received some support on Tuesday from foreign fund flows into Taiwan stocks. But US dollar stability in global trade cramped local currency gains. A lack of strong forex action by G20 leaders over the weekend had sent the US unit lower on Monday. Reuters

BANGKOK: The Philippine peso rose over a third of a per cent on Tuesday despite central bank intervention, while the South Korean won retreated after a government warning about measures to stop inflows of foreign speculative money. Investors are selling the dollar on expectations of further asset-buying by the Fed to try to revive the US recovery, which could further weaken the currency and spur more inflows into higher-yielding emerging market assets. The Philippine peso rose 0.35 per cent to a high of 43.16 against the dollar, prompting central bank intervention in the

cent, twice as fast as forecasts. That dampened speculation on more imminent policy easing by the Bank of England. Second-quarter GDP growth slowed from a 1.2 per cent expansion in April-June but still showed economic recovery is on track as the government prepares to implement wide-ranging austerity measures announced last week. Analysts said the better-thanexpected reading cooled expectations the UK central bank may buy more UK assets

from the market in an attempt to flood the system with cash to stimulate the economy, a move that is seen as being negative for the pound. The BoE's Monetary Policy Committee (MPC) holds its next regular policy meeting next week. The pound was further supported by S&P saying the UK was no longer in danger of los-

ing its triple-A credit rating. By 1440 GMT, sterling had climbed roughly 1 per cent on the day to a session high of $1.5897, pulling back from a slide to $1.5657 on Monday. The euro fell roughly 1.5 per cent to the day's low of 87.46 pence, retreating from 89.41 pence hit on Monday, its strongest since late March. Sterling rose the same amount against the yen to 128.90 yen, pulling away from a 20-month low hit on Monday. -Reuters

Australian, NZ dollars off highs but well supported SYDNEY/WELLINGTON: The Australian dollar held firm against a broadly steadier greenback on Tuesday as the market waited for inflation data to gauge the probability of another interest rate hike by the Reserve Bank of Australia. Due on Wednesday at 0030 GMT, underlying measures of inflation watched by the central bank are expected to show a rise of 0.7 per cent on the quarter, taking the annual figure to 2.6 per cent, near the top-end of the RBA's target 2-3 per cent. So far, markets are pretty much priced for a 50/50 chance of a quarter-percentage-point hike to the 4.5 per cent cash rate at the Nov. 2 meeting. A much stronger inflation reading will boost the rate hike risk and also fire up the Aussie. The Aussie was last at $0.9922, compared with $0.9904 late in New York, but still off the overnight high of $0.9975. The currency has been repeatedly capped at the $0.9950 and $1.0000 range with traders saying there is sig-

nificant selling interest above parity. Traders also said the Aussie's upside was limited by a steadier greenback. Immediate resistance for the Aussie is pegged at $0.9930-40, with strong support seen at the $0.9840-60, a break of which could lead to a test of Friday's lows of around $0.9745-55. On Monday, the Australian dollar jumped over a cent, helped by strong producer prices and a multi-billion dollar takeover deal. The New Zealand dollar was stuck in a tight range in the run-up to the central bank's rate review this week. The kiwi consolidated around $0.7525/35 after a run, which saw it reach a five-day high of $0.7561 offshore. It was seen supported around the Oct. 20 low about $0.7426, with resistance at $0.7570. The Aussie/kiwi was also steady around NZ$1.3160, after touching a six-month high of NZ$1.3219 on Monday. -Reuters

cent at 81.24 yen. It hit a 15year trough at 80.41 yen on Monday on electronic trading platform EBS, taking it near its record low of 79.75 yen, struck in April 1995. Against a basket of currencies the dollar was up 0.6 per cent at 77.552. It has support around 76.00-10, just below its October 15 low of 76.144 while resistance is at 78.40. Sterling was a clear outperformer, rising to a one-week high at $1.5897 after figures showed the UK economy grew 0.8 per cent in the third quarter, twice as much as economists had forecast. Sterling extended gains after S&P rating agency raised its outlook on the UK to stable from negative. The Swedish crown fell broadly with the euro rising more than 1 per cent to a peak of 9.3414 crowns. -Reuters

ZURICH: The Swiss franc was treading water below the previous session's near 11-week trough against the euro on Tuesday, with market participants saying technicals were expected to be the key driver of the pair. "It's technicals," a trader in Zurich said. "Support for euro/Swiss at 1.3530, resistance at 1.3620." The franc was flat against the euro compared to the New York close, trading at 1.3564 per euro at 0634 GMT. The franc was also flat against the greenback at 0.9704 per dollar. The franc has gained more than 10 per cent against the euro this year, as investors wary of sovereign debts in the euro-zone sought the safety of the Swiss unit. However, the franc has eased from its peak of 1.2763 per euro hit in September after the Swiss National Bank indicated it would hold interest rates steady for quite some time. Analysts at bank Sarasin see the Swiss franc rising again to 1.28 per euro by the end of the year, given a cooling of the global economy. -Reuters

Yuan ends lower SHANGHAI: Spot yuan closed down against the dollar on Tuesday after the People's Bank of China set a slightly weaker mid-point, continuing a pause in the yuan's appreciation since a surprise interest rate rise a week ago. The yuan has generally fallen since the rate increase was announced last Tuesday, pulling back from a 2-plus per cent rise from early September to mid-October, its quickest pace of appreciation since its landmark revaluation in July 2005. The PBOC engineered the pullback by setting a slew of weak mid-points to prevent the rise in interest rates from attracting more inflows of speculative capital. But that has failed to rein in strong market expectations that the yuan will stage another round of appreciation in November. China typically gives goodwill gestures ahead of political events that will boost pressure for yuan appreciation. In November there will be a

slew of such events, including the US congressional mid-term elections and the summit of G20 leaders of major developed and emerging economies. Many dealers expect the PBOC to let the yuan resume appreciation later this week, allowing it to appreciate to around 6.60 against the dollar by late November. The yuan closed at 6.6627 against the dollar on Tuesday, down from Monday's close of 6.6581 but much stronger than Tuesday's PBOC mid-point of 6.6762, which was slightly weaker than Monday's reference rate of 6.6729. The yuan has appreciated 2.45 per cent since the PBOC announced its depegging to the dollar on June 19. Benchmark one-year dollar/yuan non-deliverable forwards (NDFs) rose to 6.4725 in late trade from Monday's close of 6.4450, with their implied yuan appreciation in a year's time falling to 3.15 per cent from 3.54 per cent. Reuters

Indian rupee weakens on importer $ demand MUMBAI: The Indian rupee weakened on Tuesday tracking lower domestic shares, with importer dollar demand and steady dollar overseas also dampening sentiment. Dealers expect the Indian unit to remain ranged this week and the next as dollar outflows towards refund of excess subscription received for the $3.5 billion Coal India IPO may be offset by an expected overall dollar weakness globally. "There was quite a bit of importer dollar demand today. The rupee should move in a range of 44.40 to 44.60 (per dollar) tomorrow (Wednesday)," said Ashtosh Raina, head of foreign exchange trade at HDFC Bank. "The 44.70 is a crucial resistance level for the rupee on the downside." The partially convertible rupee ended at 44.4350/4450 per dollar weaker from Monday's closing of 44.35/36, and moved in a tight range of 44.4025-44.5100. Since September, the rupee

has risen 5.9 per cent on the back of $11.7 billion inflows. So far this year, foreign funds have pumped in a record $24.7 billion into Indian equities, pushing the Indian unit up by 4.8 per cent. The inflows were $17.5 billion in 2009. One-month offshore nondeliverable forward contracts were quoted at 44.74, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange and MCX-SX and the United Stock Exchange closed at 44.4625, 44.4600, and 44.4625 respectively, with the total traded volume on the three exchanges at a moderate $5.5 billion. -Reuters

Top Economic Events Time 5:30 5:30 All Day 11:45 13:00 17:30 17:30 19:00 19:30

Source AUD AUD EUR EUR EUR USD USD USD USD

Source

Events

AUD CHF EUR GBP USD USD USD

Events CPI q/q Trimmed Mean CPI q/q German Prelim CPI m/m French Consumer Spending m/m M3 Money Supply y/y Core Durable Goods Orders m/m Durable Goods Orders m/m New Home Sales Crude Oil Inventories

Forecast 0.8% 0.7% 0.1% 0.5% 1.4% 0.4% 1.7% 301K 1.1M

Previous 0.6% 0.5% -0.1% -1.6% 1.1% 1.7% -1.5% 288K 0.7M

Actual

Forecast

Previous

NAB Quarterly Business Confidence 9 UBS Consumption Indicator 1.70 GfK German Consumer Climate 4.9 Prelim GDP q/q 0.8% S&P/CS Composite-20 HPI y/y 1.7% Richmond Manufacturing Index 5 CB Consumer Confidence 50.2

5.2 0.4% 2.4% -1 49.3

Previous Day 3 1.95 4.9 1.2% 3.2% -2 48.6

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 1.3856 1.3983 0.8749 0.8882 1.3685 1.3686 112.76 113.26 0.9871 0.9879 1.024 1.0264 1.5841 1.5892 128.96 129.1 0.9849 0.9926 1.4187 1.4259 82.42 83.49 1339.29 1342.94 23.87 23.93

Bid 1.3855 0.8745 1.3681 112.76 0.9866 1.0237 1.5835 128.91 0.9845 1.4180 82.36 1338.54 23.84

Low 1.3838 0.8731 1.3548 112.44 0.9703 1.0183 1.5692 126.85 0.9833 1.4155 82.40 1328.18 83.18

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 26/10/2010 A USD GBP CAD EUR JPY O/N 0.22563 0.55250 1.02667 0.75875 SN 0.09438 1WK 0.24981 0.55500 1.05250 0.75688 0.10688 2WK 0.25125 0.56125 1.07000 0.76500 0.11438 1MO 0.25531 0.56875 1.10833 0.79313 0.12625 2MO 0.27109 0.62563 1.15333 0.84938 0.15375 3MO 0.28844 0.73725 1.21500 0.97500 0.19625 4MO 0.33969 0.82288 1.27333 1.03750 0.28125 5MO 0.40156 0.92563 1.33083 1.12125 0.33938 6MO 0.45125 1.02750 1.40167 1.21375 0.39875 7MO 0.50094 1.10250 1.46167 1.26125 0.45875 8MO 0.54900 1.18475 1.54667 1.30625 0.50500 9MO 0.60063 1.26563 1.61333 1.36125 0.55500 10MO 0.65375 1.34000 1.68167 1.40563 0.58250 11MO 0.70688 1.40875 1.75833 1.44875 0.61188 12MO 0.76525 1.47538 1.82833 1.49594 0.63938

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 26,2010 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

86.10 135.44 120.18 84.42 88.59 85.29 13.09 1.07 14.86 66.55 16.11 22.96 11.10 12.93 305.48 27.80 64.80 23.65 23.45 0.08 2.88

85.90 135.13 119.90 84.22 88.38 85.09 13.06 1.06 14.83 66.39 16.08 22.91 11.07 12.90 305.13 27.73 64.65 23.60 23.39 0.08 2.87

85.71 134.82 119.62 84.00 88.15 84.86 13.02 1.06 14.79 66.22 16.03 22.85 11.04 12.86 304.33 27.66 64.48 23.53 23.33 0.08 2.87

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for October 26, 2010

CMKA

BMA

INVSR

GSL

ICSL

12.25 12.35 12.40 12.45 12.65 12.75 12.95 13.05 13.20 13.40 13.65 13.70 13.75 13.75 13.75 13.75 13.70 13.80 14.25 14.35

12.25 12.20 12.40 12.35 12.65 12.75 12.95 13.00 13.15 13.40 13.60 13.70 13.75 13.75 13.75 13.75 13.75 13.80 14.25 14.50

12.25 12.30 12.40 12.55 12.66 12.70 12.95 13.02 13.05 13.35 13.65 13.70 13.73 13.75 13.75 13.72 13.73 13.80 14.25 14.30

12.15 12.20 12.30 12.35 12.67 12.80 12.99 13.10 13.22 13.40 13.65 13.68 13.74 13.75 13.76 13.77 13.65 13.85 14.20 14.35

12.20 12.15 12.30 12.40 12.65 12.80 12.98 13.10 13.20 13.40 13.60 13.73 13.75 13.75 13.75 13.75 13.75 13.90 14.20 14.30

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

JSCM AvgRate 12.20 12.25 12.30 12.40 12.67 12.75 13.00 13.08 13.20 13.35 13.68 13.72 13.74 13.75 13.75 13.75 13.73 13.80 14.25 14.35

12.22 12.24 12.35 12.42 12.66 12.76 12.97 13.06 13.17 13.38 13.64 13.71 13.74 13.75 13.75 13.75 13.72 13.83 14.23 14.36

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

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

week month months months year years

0.36 0.02 0.67 0.28 0.22 -0.08

0.84 0.03 0.71 0.63 0.92 0.82

0.81 -0.05 0.72 0.65 0.86 0.48

0.88 0.16 0.83 0.37 0.87 0.76

-0.53 0.44 0.88 0.02 0.64 0.52

USD/CAD USD/CHF

-0.54 0.18 0.76 0.31 0.23 -0.06

-0.11 -0.50 -0.81 -0.57 0.18 0.15

0.66 -0.20 -0.48 0.07 -0.21 -0.08

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)26/10/2010 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 11.90

12.40

12.00

12.50

12.20

12.70

12.75

13.00

12.90

13.15

13.10

13.60

13.25

13.75

13.35

13.85

JSBL

ABPL

ASK

12.20

12.70

12.10

12.60

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 12.10

12.60

12.15

12.65

12.25

12.75

12.65

12.90

12.90

13.15

13.10

13.60

13.15

13.65

13.30

13.80

CIPK

12.20

12.70

12.25

12.75

12.40

12.90

12.70

12.95

13.00

13.25

13.10

13.60

13.20

13.70

13.30

13.80

DBPK 11.90

12.40

11.90

12.40

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 12.05

12.55

12.10

12.60

12.10

12.60

12.65

12.90

13.00

13.25

13.10

13.60

13.15

13.65

13.40

13.90

FLAH 12.10

12.60

12.10

12.60

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 12.00

12.50

12.15

12.65

12.30

12.80

12.75

13.00

13.00

13.25

13.10

13.60

13.20

13.70

13.35

13.85

HKBP 12.10

12.60

12.15

12.65

12.25

12.75

12.70

12.95

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

NIPK

12.00

12.50

12.30

12.80

12.60

13.10

12.85

13.10

13.00

13.25

13.10

13.60

13.20

13.70

13.30

13.80

HMBP 12.10

12.60

12.10

12.60

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 12.15

12.65

12.15

12.65

12.40

12.90

12.90

13.15

13.00

13.25

13.15

13.65

13.25

13.75

13.35

13.85

MCBK 12.00

12.50

12.10

12.60

12.30

12.80

12.80

13.05

12.95

13.20

13.10

13.60

13.20

13.70

13.40

13.90

NBPK 12.20

12.70

12.20

12.70

12.20

12.70

12.75

13.00

12.80

13.05

13.10

13.60

13.20

13.70

13.30

13.80

SCPK 12.10

12.60

12.00

12.50

12.20

12.70

12.70

12.95

12.95

13.20

13.10

13.60

13.15

13.65

13.35

13.85

UBPL 12.00

12.50

11.90

12.40

12.25

12.75

12.70

12.95

13.00

13.25

13.15

13.65

13.25

13.75

13.35

13.85

AVE

12.57

12.11

12.61

12.27

12.77

12.74

12.99

12.97

13.22

13.11

13.61

13.21

13.71

13.33

13.83

12.07


4 Wednesday, October 27, 2010

M&As yet to pick up in Pakistan

The Financial Daily International Vol 4, Issue 81

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

Almost two third of the listed companies are of no consequence for shareholders

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

Political A harmony, need of day The effort to create better understanding between PPP and PML-Q is being witnessed with some suspicion. Some of the quarters term it as an attempt to marginalise PML-N and also MQM. Incidentally, PPP and PLM-N had signed Chartered of Democracy even before the election but breach of distrust has widened with the passage of time. It is anticipated that PML-N, which has gone from friendly opposition to stern critic may move non-confidence move against the prime minister or demand impeachment of president. However, many experts term this wishful thinking because they strongly believe that PML-N can't muster up the required support. Some of the experts term PPP-PML-Q love affair as an attempt to destabilise PML-N government in Punjab, the largest province of Pakistan. PML-Q having failed miserably in wining significant number of seats in the general elections seems to be keen in joining hands with PPP only to jointly pose a serious threat for PML-N. If PPP-PML-N alliance was termed unnatural, PPP-PML-Q could only prove disastrous for the continuity of democracy in the country. Many experts have been saying that completion of the term by the present government is a must for strengthening democracy in Pakistan. However, others are adamant at saying that sham democracy is proving too bad for the country. The present regime has failed in addressing economic woes and seems they are on a honeymoon. The criticism of the opponents has turned bitter because the present regime seems less concerned about problems faced by the masses and opponents are exploiting the situation. However, overall role of the political parties is attracting criticism. Some leaders are trying to sail in two boats, opposing some religious parties in one province but fully supporting even the banned religious outfits in another. Ironically, religious parties often say that people should be ready to face suicide attacks if drone attacks are not stopped. Similarly, some of the ministers belonging to PML-N have been alleged for having strong cordial relationship with members of banned outfits. While it becomes the collective responsibility of all the political parties to denounce any and every act aimed at destabilising the country, the ruling coalition has the biggest responsibility to avoid confrontation. The signs of maturity should also be exhibited by all the political parties. Any attempt to create chaos, derail process of democracy, weaken the institutions could prove fatal for the country. Pakistan faces external as well as internal threats. All the enemies want to destabilise the country and plunge it deeper into anarchy. The growing presence of India in Afghanistan is a serious threat for Pakistan, but the real threat is country's feeble economy. Political parties must keep an eye on each other's conduct but no move should be made to destabilise Pakistan. The collective wellbeing is in a politically stable and economically vibrant country.

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.

Shabbir Kazmi

closer look at the list of companies listed at Karachi Stock Exchange Pakistan's largest bourse shows that out of the total listed companies nearly two-third are of no consequence for the investors. Bulk of the daily trading volume pertains to 30 companies and at times even benchmark KSE-100 index does not look true reflector of investors' sentiments. The number of companies placed on defaulters' counter is very long. The companies placed on this counter suffer from some common contentious issues that include no payment of dividend to shareholders, no compliance to the listing regulation and above all these are improved version of proprietorship. Various options are available to weed out such irresponsible corporate entities but hardly exercised either by the sponsors or the shareholders. Over the years some companies have opted for buyback of shares and even lesser number for voluntary liquidation and widening up of bankrupt companies. Karachi Stock Exchange often releases the names of companies in which trading is suspended, but most of these entities had gone out of operations decades ago and assets of these companies embezzled by the sponsors and/or staff of the entities, the most notorious being National Fibres, Islamic Investment Bank and its subsidiary Islamic Modaraba, Beema Insurance and the list continues. This situation has prevailed only because of the absence of supporting laws for takeover, acquisition and merger. Stock exchanges and apex regu-

lator, Securities & Exchange Commission of Pakistan could be held responsible for the prevailing dismal state of affairs. However, one sector emerges exceptional that is commercial banks. The credit of saving banks from bankruptcy goes to State Bank of Pakistan. In the history of commercial banking in Pakistan, spread over more than six decades it is difficult to find any commercial bank going delinquent. If and when any issue aroused the central bank was prompt in bringing change of management at the ailing entity. Even if need was felt to inject additional liquidity compliance was prompt. Some of the examples include winding up of Mehran Bank, sale of Union Bank and a few mergers and acquisitions. State Bank issued nearly a dozen permissions for setting up of commercial banks after the announcement of liberalization, deregulation and privation strategy of government in early nineties. Soon after three distinct groups of banks emerged these were 'big five', small private banks and foreign banks. To bridge the gap minimum requirement of paid up capital for commercial banks was increased. While some of the banks were successful in mobilizing additional capital others are still struggling to meet the requirement. In a bid to comply with this requirement some foreign entities stepped in by injecting additional capital and also attaining majority stake. One such example was Samba Group of Saudi Arabia injecting funds in Crescent Bank, leading to change of name. Another UAE based entity Suroor Investment took

substantial stake in three of the smaller banks namely Arif Habib Bank, Mybank and Atlas Bank. Name of Arif Habib Bank has been changed to Summit Bank and it is yet to be seen whether the foreign investor holding substantial stake would merge all the three entities or prefer to maintain their individuality. From the management point of view amalgamation of three banks could bring synergy and also help in optimizing operational cost. Royal Bank of Scotland acquired ABN Amro Bank globally, which also brought the change in management and signage in Pakistan. However, it seems that inability to bring a visible change in the profitability, RBS chose to sell its stake

“

Karachi Stock Exchange often releases the names of companies in which trading is suspended, but most of these entities had gone out of operations decades ago and assets of these companies embezzled by the sponsors and/or staff of the entities, in the locally incorporated entity. While there were few other contenders Faysal Bank emerged successful. It is believed that in an attempt to optimize operational expenses, RBS would be merged into Faysal Bank. Earlier foreign investors had acquired strategic shares of Habib Bank and United Bank by offering attractive bids in privatization process. Stake was also acquired by Maybank of Malaysia in MCB Bank. The other listed banks with foreign equity stake are Bank Alfalah, NIB Bank and Faysal Bank. Banking sector experts have contrary views regarding foreigners acquiring controlling stake in local listed bank. While one group terms it a positive sign

other group calls it creation of many East India Companies. They say the GoP sold its stake in the state owned banks to get dollars without realizing the fact that reparation of dividend would add to foreign exchange outflow every year. They also say that the central bank has also succumbed to the pressure of foreign equity holders by allowing them to determine their own tariff of service charges. They also say that many banks insist on maintaining minimum balances and also penalize the accountholders if stipulated balance is not maintained. Some of the banking sector experts are of the opinion that the keen interest of foreign investors in acquiring stake in commercial banks is mainly driven by the exceptionally high spread available in Pakistan, almost double the rate earned in the developed markets. The strength of Pakistani banks and the regulatory framework is evident from the fact that even during the recession many of the players have managed to avoid posting losses. Some analysts say that the central bank of Pakistan is a little orthodox, while others term this prudent banking. Some of the sector experts strongly believe that the Prudential Regulations favor the banks more and often endorse policies which are anti-accountholders. The central bank took a major step by making it mandatory for banks to pay minimum 5% return on deposits, but often banks are able to avoid this on one or the other pretext. There is one apprehension that once Pakistan's economy is back on track and then enters into growth phase, banks would start posting profit and remittance of dividend that will start eroding country's foreign exchange reserves. While many of the accountholders are full of complaints about high service charges, they are also cognizant of the high quality of service offered that include ATMs, debt/credit cards, online banking, internet banking and mobile banking helping the accountholders to avoid visit to branches, convenience for accountholders and less traffic at branches.

Indo-America defence deals W

hen US President Barack Obama arrives in India next month, he will face a key challenge of boosting defence ties that are on the upswing but mired by political suspicion over pandering to Washington's interests. Underlying the visit will be lobbying for billions of dollars in contracts to overhaul India's mostly Russian-supplied military, a relic of their Cold War era partnership. Those orders include US$11 billion deal for 126 fighter jets that could benefit US' Boeing and Lockheed Martin Corporation. France's Dassault, Russia's MiG-35, Sweden's Saab and the Eurofighter Typhoon are also competing. But Washington faces a host of hurdles, including Indian worries that signing defence pacts which are necessary for the US arms sales to go through may land New Delhi into a wider entanglement with the US military. While Prime Minister Manmohan Singh has reached out to Washington over his

last six years in powers, many within his own Congress party as well as his parliamentary allies are reluctant to embrace these pacts, pending over three years. "India is weighing to see if all these agreements are to give a wider room to maneuver for US forces in the region," said Siddharth Varadarajan, strategic affairs editor at Hindu Newspaper in Delhi. "There is a mismatch in expectations from the relationship. India wants weapons sales as a transactional relationship, the US is seeking exclusivity in partnership," he said, referring to any US desire to make the Indian military an active element in its strategic expansion in the region. A KPMG report this month said the misgivings over the pacts were "roadblocks" in sustaining the momentum in the relationship. Obama's challenge is not as much in winning contracts as it is in lifting ties to a longterm military partnership in a region where Washington is now fighting a war and seek-

ing ways to contain China's rise. And the defence pacts Washington wants India to sign underscore some of those challenges. One pact is the Logistics Support Agreement (LSA), which would allow American military to use Indian facilities for operations like refueling. Indians fear India could be used as a launching pad for military operations in the region. Two other pacts are required under US domestic laws to transfer sensitive defence technology. India fears the military will have to share communications secrets with the US. "These agreements need wider consultation. They have various implications," an Indian defence ministry official told Reuters. DEVELOPING TIES Once on the opposite sides of the Cold War, India and the US began warming up to each other about a decade back, the paradigm shift coming with a 2008 civil nuclear deal that then President Bush pushed to end India's nuclear isolation. And the growing conver-

gence in defence ties is manifest in India agreeing to buy US military hardware worth some $10 billion in government-to-government sales in the past two years. The US has held more military exercises with India than any other country. Two-way trade has risen to close to $50 billion from just $5 billion in 1990. Indian Prime Minister Manmohan Singh was also the first state guest of the Obama administration last year. But what India is looking for is reassurance that Washington takes New Delhi seriously as a global partner and will not sacrifice Indian interests as it seeks to bolster rival Pakistan to combat Islamist militants, and deals with China. This may help explain India's reluctance to go into a bear hug with US military at the risk of alienating its time-tested ally Russia, and other European powers such as Britain and France which are trying to boost ties, including military, with India. "India and the US need to work out how the relationship

has shifted," said Evan Feigenbaum, a South Asia expert at Washington-based think tank Council on Foreign Relations. "Security is not just about procurement and contracts; it needs to reflect the new nature of the relationship." Indian confidence could be boosted if Obama declares his support for a permanent seat for India on the UN Security Council and further eases US export controls on dual-use technologies that have both conventional and nuclear use. "It's not an either or situation. The maturation of USIndia defence ties is steady and is well rounded in most respects," said James Clad, former US deputy assistant secretary of defence for Asia and now with Pentagon's National Defence University. There are other irritants in the relationship, including problems over India's nuclear liability regime, a sector holding big plumbs for US' Walmart, General Electric and Westinghouse Electric, subsidiary of Toshiba Corporation.-Reuters

Funds for dengue patients?

Short term memory loss

According to a news item published in The Financial Daily dengue relief fund worth Rs20 million is not being released by Sindh Govt, despite nearly 3,000 dengue patients battling for their survivals in many hospitals all over Sindh. Every day dozens of people are loosing their lives due to this deadly fever and even in such condition the funds for these victims is not released, the re cent statements by the Sindh Health minister Dr Sagheer Ahmed reveled that the authorities are not taking up the matter seriously. In this situation where already so many problems are teasing the poor people of Pakistan, they have to face the negligence of the government in this regard thus posing a direct threat to their survival. I appeal the authorities to take concrete steps by not only releasing the funds immediately but also doing more to stop the spread of dengue fever. Rameez Ahmed, University of Karachi.

Short term memory loss is the right term for our public. We seem to have no opinion of our own. As soon as the news fades away from the media so does from our minds. Every dialogue, every discussion starts in people's living room and ends up right there, even if some of our own want to do something; they are discouraged to the extent of being declared outcast. We call ourselves modern, Islamic or whatsoever BUT the reality remains we don't do anything unless it comes to our home or ourselves, and we definitely don't consider Pakistan our home, because if at any point of time we do; we would've never labeled education with statuses. Saman Maudood, Karachi.


5

Wednesday, October 27, 2010

South East Asian stocks

EU shares dip; UBS off on investment bank woes KSE-100 Index Opening Closing Change % Change Turnover (mn)

10,703.71 10,658.15 45.56 0.43 150.70

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

3,331.22 3,316.09 15.13 0.45 8.11

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

2,706.00 2,698.57 7.43 0.27 0.36

Major Gainers

Symbol

Close

Change

RMPL 1,625.00 ULEVER 4,050.18 BATA 567.68 IDYM 243.31 WYETH 810.00

75.50 30.18 26.99 11.10 9.00

Major Losers

Symbol

Close

Change

MTL SRVI PSEL ATLH AGTL

480.87 231.73 142.63 109.20 201.98

-12.63 -11.41 -7.37 -5.74 -5.46

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA ANL LPCL NML UBL

10.16 11.61 2.92 52.90 57.47

20.92 15.88 9.17 8.23 6.69

Active Issues Plus Minus Unchanged

148 242 13

Sector Updates FERTILISER 000 tonnes

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

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 09 to June 10) 71,998 Sales (July 09 to June 10) 73,993 Production (July 10) 7,509 Sales (July 10) 4,503

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

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

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

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

OIL MARKETING CO (000 tons) MS (Jul 09 to June 10) MS (July 10) Kerosene (Jul 09 to June 10) Kerosene (July 10) JP (Jul 09 to June 10) JP (July 10) HSD (Jul 09 to June 10) HSD (July 10) LDO (Jul 09 to June 10) LDO (July 10) Fuel Oil (Jul 09 to June 10) Fuel Oil (July 10) Others (Jul 09 to June 10) Others (July 10)

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

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

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

Mostly higher; Indonesia sets record high

KSE fails to hold above 2-year high

Meezan Bank 9M earnings hop up 52pc

profits as market has gained 2.3 per cent in the last 4 trading sessions", said Samar Iqbal, equity dealer at Topline Securities. He added that many leading companies announced their results but investors preferred to trim their position after the result announcements. Investor participation remained impressive throughout the day as 150.6 million shares traded in the overall market which was just 7.4 million shares less as compared to a turnover of 158 million shares a day earlier. Market started the day with a minor loss of 2 points.

KARACHI: Meezan Bank Limited, the largest Islamic Bank in Pakistan has recorded an impressive growth in profitability, deposits and total assets in the first nine months of CY10, said a notice issued to Karachi Stock Exchange (KSE). See # 9 Page 11

Nawaz Ali KARACHI: After some continuous bullish activities over the past few sessions, investors preferred to book profits at the local bourse which, on Tuesday, ended below 10,700 points (26-month high) despite some good corporate results and healthy volumes. The benchmark 100-Index of Karachi Stock Exchange closed 45 points down at 10,658 points while KSE 30-Index fell by 58 points closing at 10,239 points and KSE All Share Index lost 30 points to end at 7,422 points. "Investors preferred to book

US stocks mid-day

Materials fall after results; broader mkts emerge as flat NEW YORK: Soft commodity prices and disappointing results from the steel sector weighed on materials stocks on Tuesday, but a strong quarter at Ford kept spirits high about the earnings season. Broader markets were little changed at midday as an encouraging reading on consumer confidence helped discretionary shares, offsetting the impact of weak revenue forecasts from drugmaker BristolMyers Squibb Co and chip manufacturer Texas Instruments Inc. Investors view See # 14 Page 11

Weak banks drive FTSE lower LONDON: Weak banks helped drive Britain's top share index to a lower close on Tuesday, with sentiment hit by a loss at UBS's investment bank and as investors locked in profits after sharp gains over the last two months. The FTSE 100 closed 44.68 points, or 0.8 per cent, lower at 5,707.30, its biggest one-day per centage drop since Aug. 25. The index has risen more than 9 per cent since the start of September. See # 15 Page 11

Thereafter it showed some volatile activities throughout the day moving on both sides of the index between 10,746 points (+ive 43 points) and 10,639 points (-ive 64 points) as investors preferred to book profits after the result announcement of some major companies. Therefore selling in main board stocks threw the index into the red zone at a number of occasions and it finally ended the session below 10,700 points. Some major players that announced their quarterly corporate results during the day See # 16 Page 11

Nikkei down in choppy trade TOKYO: Japan's Nikkei share average slipped on Tuesday as the yen hovered near a record high against the dollar, adding to investor caution before the peak of the corporate earnings season. Although the Nikkei briefly turned positive in the afternoon, helped by what some analysts said was buying of futures and short-covering, it remained stuck in a narrow range. Traders were hesitant to take fresh long positions after the yen firmed to a fresh 15-year peak of 80.41 against the dollar on Monday, approaching a record high of 79.75 yen. "It seems like it's only a matter of time until the yen hits a record high, and given the situation, I think it's hard to justify

buying stocks now," said Kazutaka Oshima, president of Rakuten Investment Management. The benchmark Nikkei closed down 0.3 per cent at 9,377.38, while the broader Topix fell 0.4 per cent to 817.94. Trade was light on the TOKYO exchange's first section, with some 1.5 billion shares changing hands, near a one-month low hit on Monday. Declining stocks outnumbered advancers, 881 to 603. Shares of Sony, however, saw their most active trade in three months. It was also the most actively traded stock in value terms on the first section. Sony rose nearly 3 per cent at one stage as traders cited See # 13 Page 11

Lotte 9MCY10 earning up 47pc KARACHI: Lotte Pakistan (LOTPTA) Tuesday announced its corporate results for the nine months ended September 30, 2010. According to a notice issued by Karachi Stock Exchange (KSE), company earned a profit after tax of Rs3.19 billion translating into an earning per share (EPS) of Rs2.1 in the nine months showing an increase of 47 per cent as compared to a PAT of Rs2.16 billion in the same period last year ---an EPS of Rs1.43. Quarter-wise, for third quarter company posted earnings of Rs1.01 billion (EPS: Rs0.67), up 6 per cent compared to Rs955.83 million (EPS: Rs0.63) in the same period last year. Net revenues declined by 1 per cent to Rs9.82 billion in 3QCY10 as compared to Rs9.93 billion in the same period last year. "This is due to a decline in custom duty on imported PTA See # 26 Page 11

China, HK dip as banks drop ahead of Q3 results HONG KONG/SHANGHAI: Shares in Hong Kong and Shanghai slipped on Tuesday as banks fell ahead of earnings reports, offsetting gains in refiners after Beijing raised fuel prices. The Hang Seng Index fell 0.1 per cent to 23,601 points, with Aluminum Corp of China (Chalco), the top loser, down 4.3 per cent after disappointing results. China's key stock index slipped 0.3 per cent to 3,041 but held above the psychological 3,000 level, which it broke through on Monday's 2.6 per cent. "For the broader market, the very fast break through the 3,000-point mark means some consolidation needs to happen," said Xingyu Chen, analyst at Phillip Securities in SHANGHAI, adding that the focus now was on earnings from major banks later this week. Agricultural Bank of China Ltd was down 2.5 per cent, while Industrial and Commercial Bank of China Ltd fell 1.8 per cent. Bank of China,

which reports on Wednesday, dropped 1.4 per cent. Robust loan growth and attractive valuations have tempted investors to make bets on banks that have underperformed the broader market for most the year, but investors preferred to lock in some recent profits before the quarterly numbers. China's biggest state lenders are expected to report a 23 per cent rise in combined thirdquarter profit, a median estimate of five analysts surveyed by Reuters showed. "Loan demand isn't languishing and sour debts haven't piled up," said Wu Songkai, analyst at Huatai United Securities Co. "With policy risks now fading, banking stocks suddenly look very attractive." The rally in banking shares has helped the SHANGHAI market jump 14.5 per cent so far this month, despite an unexpected rise in China's interest rates last week, cutting its losses for the year to 8 per cent compared with 19 per cent at

the end of September. ENERGY SHARES LIMIT HK LOSSES In Hong Kong, gains in refiners helping to offset declines in financials. Oil majors rose after China lifted retail fuel prices by about 3 per cent, the first increase in seven months. The move will help refiners' profit margins. China Petroleum & Chemical Corp (Sinopec) rose 3.1 per cent and Petrochina Co Ltd firmed 0.9 per cent, providing the biggest boost to the Hang Seng Index. The Hang Seng has gained 5.5 per cent this month, underperforming its SHANGHAI counterpart, a trend that some market players expect will continue over the next quarter. The Hang Seng is trading at a forward 12-month price-toearnings multiple of 12.7, the highest since April this year, according to Thomson Reuters data. One blue-chip stock that saw a sharp sell-off was aluminum producer Chalco.-Reuters

Staff Reporter

Kapco 1Q net hikes 52.5pc Aamir Abidi KARACHI: A notice issued to Karachi Stock Exchange (KSE) Tuesday said that Kot Adu Power Company Limited (KAPCO) has reported a jump of 52.5 per cent (YoY) in its 1QFY11 profit. See # 10 Page 11

ICI Pak 3QCY10 profit up 22pc Staff Reporter KARACHI: The Board of Directors of ICI Pakistan Limited has announced the financial results for the quarter ended September 30, 2010, a notice issued to Karachi Stock Exchange said Tuesday. The company posted net sales income of Rs8.5 billion which was 22 per cent higher over the same period last year. With higher volumes and better unit See # 11 Page 11

MCB 3QCY10 profit rises by 12.5pc Staff Reporter KARACHI: Pakistan's biggest lender by market value MCB Bank Ltd has posted a 12.5 per cent increase in its profit for the third quarter of current calendar year said a notice issued to Karachi Stock Exchange (KSE) Tuesday. See # 12 Page 11

Indian shares shed 0.4pc; banks down, Reliance up MUMBAI: The BSE Sensex eased 0.4 per cent on Tuesday with financials losing ground as investors took profits ahead of an expected increase in interest rates by the Reserve Bank next week. Trading was choppy with energy giant Reliance Industries, top car producer Maruti Suzuki and cigarette-tohotels group ITC posting gains. Traders said the undertone remained firm on hopes for continued investment by foreign funds, who have moved in more than $11 billion since the start of September. "There is still some steam left in the rally, looking at the pace at which money has been flowing in. Risk appetite is still good," said Anish Marfatia, head of sales trading at Avendus Securities. The 30-share BSE index dropped 81.73 points to 20,221.39, with 19 of its components declining, after flipping between positive and negative territories. In the broader market, declining shares led advancing ones in a ratio of 1.1:1 on relatively high volume of 456 million

shares, provisional data showed. The benchmark has gained 15.8 per cent so far this year, bolstered by foreign fund inflows of a record $24.3 billion. The NSE-50 index dropped 0.4 per cent to 6,082. Marfatia said he expected the broader index to reach 6,200 in the next 10 days. The Reserve Bank of India (RBI), which is scheduled to review policy on Nov. 2, warned on Tuesday that surging food prices were structural and would put upward pressure on inflation and interest rates. "Persistent price increases in commodities for which there are less effective substitutes, with other things remaining equal, will raise the potential rate of inflation over a period of time," RBI Deputy Governor Subir Gokarn said in a speech. The central bank is widely expected to raise interest rates by another 25 basis points next Tuesday as it continues to battle headline inflation that rose to 8.62 per cent on an annual basis in September. See # 8 Page 11

ANNOUNCEMENTS Company PICIC Energy Fund AKD Capital Allied Rental XD Arif Habib Ltd.XB Arif Habib Sec.SD B.P.Board Berger Paints Cherat Paper XDXB Cherat Paper XDXB Ellcot Sp.XD Ideal EnergyXD Ideal Spinning Kohat Cement Kot Addu Power XD Maple Leaf Cement Mari Gas Merit Pack Nagina CottonSD Nakshbandi XD National Foods XD Nimir Ind.Chemical Nishat Mills Ltd Xd(Consolidated) Nishat Mills Ltd Xd(Unconsolidated) Pak.Int.Con. Xd(Consolidated) Pak.Int.Con. Xd(Unconsolidated) Pak.P.V.C. Prosperity Weav XD Security Paper Ltd. BOC (Pak) Ltd. Century Insurance GlaxoSmithKline Pak. ICI Pakistan ICI Pakistan Lafarge Pakistan Lotte Pakistan PTA PICIC Ins.Ltd. Universal Insurance

Period Yearly 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 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 PAT (Rs in mn) 5%(D) 10%(D) 1.029 70.567 22.140 509.308 0.301 -21.718 64.467 64.467 90.389 -2.302 29.202 -82.948 2,037.392 -618.798 371.752 0.417 91.331 23.412 27.848 -2.377 1,663.020 1,350.109 277.238 277.238 -5.145 60.395 66.736 136.634 54.776 819.743 1,847.772 1,847.772 -1,045.033 3,186.514 -20.244 -54.988

Dhiyan

SELL ON STRENGTH Khalid Waheed, CEO Hum Securities The correction is expected to continue over the next 1-2 sessions. Thereafter, if market manages to consolidate or some good news arrives from the political or economic front we can see the bullish trend reviving. Investors are advised to invest --after proper analysis- in those stocks which offer dividend yields of more than 8 per cent. Traders should adopt a 'sell on strength' strategy today.

Faran Rizvi, Technical Analyst Invisor Securities Increasing participation along with limited price action movement means the market is an overbought state, a hint that bulls are tired. Today market tested its major resistance level of 10,747 points twice, but we still recommend traders to maintain a selling stance as we are seeing the market coming around to 10,550 points. Intraday support will be at 10,605 points. Market will have a major support at 10,450 points, therefore we recommend traders to buy at this level. Market may remain negative today. We deem correction would be healthy for it.

EPS(Rs) 0.41 1.18 0.49 1.36 0.05 -1.19 7.02 7.02 8.25 -0.29 2.94 -0.64 2.31 -1.49 1.29 0.10 4.88 0.20 0.67 -0.01 4.73 3.84 2.50 2.50 -0.34 3.27 1.62 5.46 1.20 4.17 13.31 13.31 -0.80 2.10 -0.58 -2.62


6

Wednesday, October 27, 2010

Market Volume

150,697,463

Value

4,487,158,164

Trades

73,269

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

148 242 13 403

All Share Index

10,658.15 10,747.82 10,639.98 i45.56

Current High Low Change

KSE 30 Index

7,422.34 7,486.31 7,410.96 i30.92

Current High Low Change

KMI 30 Index Current High Low Change

10,239.39 10,350.67 10,216.65 i58.15

16,801.97 17,005.93 16,766.50 i112.66

OIL AND GAS

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index

Performance of SR Industrial Transportation Index

Open 1,354.40 Turnover 5,905,847 P/E (x) 11.31 Company

KSE 100 Index

Symbols

PE

High Low 1,363.93 1,341.53 Total cos Defaulter cos P/BV (x) ROE (%) 4.19 37.01

Open

High

Low

Attock PetroleumXDXB 691 4.58 299.71 Attock Refinery 853 17.83 101.46 BYCO Petroleum 3921 - 11.45 Mari Gas Company 735 16.59 126.50 National Refinery XD 800 5.66 220.67 Oil & Gas Development XD 43009 10.55 152.65 Pak Petroleum 11950 7.75 190.96 Pak Oilfields XD 2365 6.15 245.39 Pak Refinery Limited 350 - 80.15 P.S.O XD 1715 4.52 269.69 Shell Gas LPG 226 16.58 38.28 Shell Pakistan XD 685 9.42 183.62

303.05 102.80 11.60 127.05 229.00 153.34 192.60 247.00 83.99 271.00 38.50 184.98

297.00 97.50 10.98 121.20 222.20 151.55 189.60 241.10 78.11 266.50 36.70 183.50

Close Chg 297.79 98.06 11.05 122.47 227.34 152.85 190.69 242.30 78.93 266.98 36.81 183.66

-1.92 -3.40 -0.40 -4.03 6.67 0.20 -0.27 -3.09 -1.22 -2.71 -1.47 0.04

Close Change 1,351.00 -3.40 Listed cap Market cap 65,194.15 mn 1,065,010.06 mn Payout (%) Div Yield (%) 68.56 6.06 Last 60 days High Low

Volume 335803 2140904 1632118 98938 679600 432227 672118 1199073 81683 243006 9717 12778

374.20 102.80 12.87 136.88 230.84 154.25 214.10 251.24 85.90 286.99 40.28 244.00

% Change -0.25 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 747.52 Turnover 13,097 P/E (x) 5.75 Company

Paid up Cap(mn)

Pak Int Cont.Terminal XD 1092 PNSC XD 1321

High Low 747.79 734.26 Total cos Defaulter cos P/BV (x) ROE (%) 1.47 25.53

Close 734.66 Listed cap 3,242.17 mn Payout (%) 11.08

Change -12.86 Market cap 12,910.18 mn Div Yield (%) 1.93

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

7.06 40.71

71.84 38.05

71.90 38.00

70.50 37.45

70.55 -1.29 37.45 -0.60

6980 6117

87.86 41.00

60.05 34.50

Company

Paid up Cap(mn)

Agritech Limited Bawany AirXDXR 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 Lotte Pakistan Mandviwala Nimir Ind Chemical Shaffi Chemical Sitara Chem Ind XDXB Sitara Peroxide

PE

Open

High

Low

3924 9.73 21.56 68 80.00 10.60 200 4.32 41.70 250 11.40 83.80 273 5.48 158.06 1203 7.81 170.05 1996 2.46 1020 4.83 3663 1.63 3277 9.08 177.92 6635 - 13.60 22000 - 10.00 6785 7.36 109.02 9341 5.73 30.60 725 9.09 12.25 1388 7.17 129.10 15142 3.63 10.43 74 1.37 1106 1.57 120 1.88 2.76 214 8.92 108.18 551 14.22 12.11

22.56 9.62 43.78 87.99 160.99 170.00 2.54 5.74 1.76 179.30 13.75 10.05 109.35 30.77 12.45 130.25 10.75 2.00 1.63 2.99 112.29 13.11

21.65 9.60 39.75 80.50 155.00 168.99 2.27 4.65 1.57 176.56 13.30 9.55 107.99 30.25 11.95 127.00 10.11 1.37 1.45 1.80 107.00 12.40

Close Chg 22.00 9.60 39.75 83.01 155.82 169.27 2.47 5.59 1.66 176.99 13.42 9.70 108.21 30.35 12.00 127.33 10.16 1.45 1.47 2.50 108.82 13.08

0.44 -1.00 -1.95 -0.79 -2.24 -0.78 0.01 0.76 0.03 -0.93 -0.18 -0.30 -0.81 -0.25 -0.25 -1.77 -0.27 0.08 -0.10 -0.26 0.64 0.97

Close 1,191.13 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 16540 686 703 81144 6651 7533 66888 2920902 1513930 1185017 936081 1071553 416953 1200040 139154 763777 20916242 74403 413593 505 13615 1951636

Change -8.92 Market cap 266,880.71 mn Div Yield (%) 6.53

26.49 16.78 43.78 87.99 174.00 183.25 2.98 5.74 2.21 190.80 15.20 12.10 112.60 30.90 13.85 131.40 10.75 3.24 1.74 3.80 128.01 13.11

% Change -0.74 5-Day High 1,200.05 5-Day Low 1,187.81

2009 Div BR (%) (%)

2010 Div BR (%) (%)

21.15 9.53 5 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 6.75 5 0.80 1.16 1.80 104.56 75 25 7.67 -

10R 5B -

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,140.72 Turnover 78,975 P/E (x) 5.81

High Low 1,149.10 1,116.51 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 7.47

Close 1,122.22 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

8.07 6.12

17.92 42.47 40.69

18.00 43.48 41.00

17.70 41.10 39.60

17.82 -0.10 41.95 -0.52 39.68 -1.01

58900 1224 18851

Company

Change -18.50 Market cap 3,109.91 mn Div Yield (%) 4.35

Last 60 days High Low 22.70 62.85 48.98

17.31 38.61 38.10

% Change -1.62 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 1,118.41 Turnover 662,333 P/E (x) 4.08 Paid up Cap(mn)

High Low 1,127.62 1,102.37 Total cos Defaulter cos P/BV (x) ROE (%) 1.03 25.35

PE

Open

High

Low

Agriautos Ind XD 144 5.15 Atlas Battery 101 5.77 Atlas Honda 626 7.60 Baluchistan Wheels Ltd XD 133 5.83 Dewan Motors 890 Exide (PAK) 56 4.37 General Tyre XD 598 6.58 Ghandhara Nissan 450 Ghani Automobile Ind 200 7.56 Honda Atlas Cars 1428 Indus Motors 786 5.31 Pak Suzuki 823 11.76 Sazgar EngineeringXDXB 150 3.92

68.15 153.44 114.94 30.20 1.49 149.90 24.25 4.32 4.58 12.09 234.30 75.37 21.45

69.50 155.90 114.00 31.00 1.54 152.90 24.24 4.47 5.00 12.20 234.00 77.00 21.65

68.00 152.05 109.20 31.00 1.47 148.00 23.20 4.31 4.50 11.70 232.00 73.80 20.99

Open 937.93 Turnover 610,425 P/E (x) 2.93 Company

Paid up Cap(mn)

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

PE

565 3.36 675 555 5.98 1199 4.51 785 10.23

Open 25.00 3.15 12.93 47.04 9.07

High 25.50 3.25 13.93 47.00 10.07

High Low 960.40 923.45 Total cos Defaulter cos P/BV (x) ROE (%) 0.97 33.10 Low 24.75 2.84 12.90 46.20 9.00

Close Chg 24.81 2.85 13.93 46.29 9.00

-0.19 -0.30 1.00 -0.75 -0.07

Close 928.10 Listed cap 3,596.11 mn Payout (%) 30.91

Last 60 days High Low

Volume 51180 55617 90146 103368 310114

28.50 3.39 16.75 70.71 10.80

23.75 1.65 12.25 45.60 8.00

% Change -1.05 5-Day High 937.93 5-Day Low 928.10

2009 Div BR (%) (%) 10

30B -

Open 1,493.10 Turnover 241,148 P/E (x) 32.70 Company Adam Sugar AL-Noor Sugar Chashma Sugar Faran Sugar Habib Sugar Habib-ADM Ltd XD Hussein Sugar J D W Sugar Kohinoor Sugar Mirza Sugar Mithchells Fruit National Foods XD Noon Pakistan XD Noon Sugar Quice Food Shakarganj Mills Tandlianwala UniLever Pakistan

Paid up Cap(mn) 58 186 287 217 600 200 121 490 109 141 50 414 48 165 107 695 1177 665

Close Chg

PE

Close 1,106.15 Listed cap 6,768.53 mn Payout (%) 20.42

Volume

Change -12.26 Market cap 40,290.14 mn Div Yield (%) 5.01

Last 60 days High Low

-0.15 -0.35 -5.74 0.80 -0.01 2.60 -0.25 0.08 0.26 -0.37 -1.70 -1.53 -0.45

4901 10731 2539 923 558516 507 1002 754 10812 13656 35285 20605 2099

76.98 206.95 122.51 33.15 2.09 155.99 27.35 6.30 5.55 13.50 287.00 89.99 27.85

63.01 131.00 92.00 28.25 1.16 121.10 21.71 4.03 3.55 9.65 212.29 69.25 19.50

Open

High

High Low 1,516.42 1,481.34 Total cos Defaulter cos P/BV (x) ROE (%) 9.91 30.30 Low

Close Chg 0.95 0.10 0.10 -0.05 -0.22 0.35 -1.00 3.03 -0.97 -0.20 -0.49 0.09 -0.86 -0.03 -0.02 -0.35 0.77 30.18

Close 1,500.34 Listed cap 11,335.33 mn Payout (%) 30.57

High Low 1,004.59 962.85 Total cos Defaulter cos P/BV (x) ROE (%) 0.56 7.10

Paid up Cap(mn)

PE

Open

High

Low

Al-Abbas Cement Attock Cement XD Berger Paints Cherat Cement

1828 866 182 956

5.06 -

3.25 63.30 17.54 12.00

3.35 63.89 18.00 12.40

3.12 62.25 16.54 11.40

Dadabhoy Cement Dandot Cement Dewan Cement

982 12.69 948 3574 -

1.53 2.00 1.64

1.69 1.71 1.64

1.50 1.70 1.50

DG Khan Cement Ltd Fauji Cement Fecto Cement Flying Cement Ltd Frontier Ceramics

3651 37.11 6933 15.15 502 1760 77 -

27.48 5.09 5.10 2.05 3.80

27.67 5.15 5.10 2.05 3.40

26.65 4.95 5.05 1.90 2.80

Company

Haydery Const Kohat Cement Lafarge Pakistan Cmt.

Close 973.77 Listed cap 54,792.74 mn Payout (%) 19.04

% Change -1.93 5-Day High 997.78 5-Day Low 972.52

Close Chg

Volume

Last 60 days High Low

3.19 63.61 16.60 11.42

20961 141227 42940 33001

4.20 71.80 20.00 12.50

2.80 60.30 14.01 8.90

50 -

20B -

6001 8901 52896

2.74 3.90 2.20

1.30 1.02 1.30

-

-

-

-

-0.06 0.31 -0.94 -0.58

1.65 0.12 1.70 -0.30 1.52 -0.12 26.72 5.00 5.10 1.90 2.80

2009 Div BR (%) (%)

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

-0.76 -0.09 0.00 -0.15 -1.00

3621520 321354 300 47194 522

28.30 5.50 7.50 2.30 5.00

23.02 4.51 4.25 1.74 1.91

-

20R 10B -

-

20R -

318238 236110 9170830

2.00 6.60 3.65

0.25 5.50 2.60

-

-

-

-

32 1288 13126

-

0.73 6.01 3.40

0.74 6.06 3.46

0.54 5.80 2.89

0.60 -0.13 6.02 0.01 2.92 -0.48

Lucky Cement XD Maple Leaf Cement

3234 5261

6.52 1.35

72.69 3.05

73.90 3.07

72.10 2.87

72.57 -0.12 2.90 -0.15

744007 152249

74.00 3.54

62.60 2.51

40 -

-

40 -

-

Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement

2228 200 361 7982080.00

8.37 6.62 8.00 21.85

8.25 6.94 8.90 20.82

8.00 6.15 8.00 20.80

8.02 6.15 8.00 20.80

17555 116 2986 553

8.58 9.47 11.60 22.24

6.80 5.50 7.56 17.74

-

-

-

50R

-0.35 -0.47 0.00 -1.05

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 917.28 Turnover 221,755 P/E (x) 2.59 Company

Paid up Cap(mn)

PE

Open

High

High Low 919.98 894.74 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 43.91 Low

Close Chg

Cherat PapersackXDXB 115 1.64 43.78 45.96 44.10 45.96 ECOPACK Ltd 230 2.31 2.39 2.07 2.37 Ghani GlassXDXB 1067 4.39 48.10 48.69 47.70 47.71 MACPAC Films 389 2.56 2.65 2.65 2.65 Packages Ltd 844 53.95 107.71 107.75 105.00 105.21 Siemens Engineering 82 10.23 1242.65 1239.99 1201.00 1239.67 Tri-Pack Films 300 7.46 103.80 103.90 101.10 102.33

Volume

Last 60 days High Low

1497 14.03 10.50 55006 45.99 39.25 3012 11.40 8.00 1000 20.25 15.90 94388 32.25 25.00 505 16.98 11.90 601 14.00 4.22 23664 79.60 60.10 3502 8.50 2.80 835 5.70 3.55 102 76.00 61.00 14836 65.29 39.01 306 32.53 18.95 1132 12.99 10.00 5000 3.40 1.60 31482 6.40 3.02 2960 35.50 22.45 1008 4220.00 3710.00

Open 1,151.86 Turnover 179,965 P/E (x) 3.00 Paid up Cap(mn)

Diamond Ind Pak Elektron Singer Pak Tariq Glass Ind

High Low 1,163.18 1,144.08 Total cos Defaulter cos P/BV (x) ROE (%) 0.32 10.64

PE

Open

High

Low

90 20.72 1174 3.03 341 17.91 231 2.77

13.89 14.30 18.13 17.35

14.89 14.48 19.13 17.38

12.89 14.06 18.90 17.00

Last 60 days High Low

174066 51.05 34.00 26828 2.86 1.70 7952 61.99 45.75 1000 4.50 1.60 6022 123.00 98.00 131 1274.00 1040.01 5755 105.74 91.00

% Change -1.01 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 -

13.88 14.16 18.98 17.01

-0.01 -0.14 0.85 -0.34

Volume 1238 164674 757 13295

Last 60 days High Low 19.70 15.95 24.14 19.12

9.20 12.17 16.51 14.50

66 215 104 213 124 132 366

PE

Open

3.26 16.40 4.84 207.44 - 46.40 2.10 13.07 - 123.90 8.81 76.56 6.16 493.50

High

Low

Close Chg

Volume

16.24 15.41 15.96 -0.44 209.50 200.00 201.98 -5.46 47.00 44.15 46.87 0.47 13.33 13.00 13.33 0.26 130.09 130.09 130.09 6.19 75.00 73.55 73.55 -3.01 500.00 477.00 480.87 -12.63

1763 28668 4015 15199 182 112 227365

Change -33.46 Market cap 31,507.54 mn Div Yield (%) 16.40

Last 60 days High Low 21.96 227.45 51.99 19.50 138.45 91.00 597.90

2009 Div BR (%) (%)

14.62 20 200.00 400 36.10 11.29 108.11 17.15 73.55 35 390.00 450

20B 25B

3,505.76

MA (200-day)

2.17

Interest Expense

1st Support

1.35

Loss after Taxation

6,429.63

2nd Support

1.07

EPS 09 (Rs)

1st Resistance

2.08

Book value / share (Rs)

2nd Resistance

2.53

PE 10 E (x)

Pivot

1.80

PBV (x)

760.24 (592.51) (3.797) (3.93) (0.43)

JPGL closed up 0.14 at 1.68. Volume was 1,726 per cent above average (trending) and Bollinger Bands were 7 per cent narrower than normal. The company's loss after taxation stood at Rs452.352 million which translates into a Loss Per Share of Rs2.89 for the year ended FY10. JPGL is currently 22.7 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 JPGL (bullish). Trend forecasting oscillators are currently bullish on JPGL.

Azgard Nine Limited

% Change 0.48 5-Day High 1,500.34 5-Day Low 1,482.95

2009 Div BR (%) (%)

2010 Div BR (%) (%)

10 40 17.5 35 40 40 20 50 458

40 0 12.5R 12 12 178 -

25B 25B 10B 10B -

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

67.21

Total Assets (Rs in mn)

38,525.22

MA (10-day)

10.72

Total Equity (Rs in mn)

18,469.71

MA (100-day)

10.84

Revenue (Rs in mn)

11,737.86

MA (200-day)

13.97

Interest Expense

2,424.42

1st Support

11.28

Profit after Taxation

60.53

2nd Support

10.98

EPS 09 (Rs)

0.003

1st Resistance

12.10

Book value / share (Rs)

37.85

2nd Resistance

12.62

PE 10 E (x)

Pivot

11.80

PBV (x)

0.31

ANL closed down -0.13 at 11.61. Volume was 697 per cent above average (trending) and Bollinger Bands were 18 per cent narrower than normal. The company's loss after taxation stood at Rs173.754 million which translates into a Loss Per Share of Rs0.41 for the half year of current calendar year (1HCY10). ANL is currently 16.9 per cent below its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into ANL (bullish). Trend forecasting oscillators are currently bullish on ANL.

Dewan Salman Fibre Limited

Amtex Limited XD Artistic Denim XD Azam TextileSPOT Azgard Nine Bannu Woolen XD Bata (Pak) Chenab Limited Colgate Palm Colony Mills Ltd Crescent Jute Crescent Textile XD D S Ind Ltd Dawood Lawrencepur Dewan Farooque Spin. Din TextileXDXB Ellcot Spinning XD Gadoon Textile XD Ghani Value Glass XD Ghazi Fabrics XD Gillette Pakistan Gul Ahmed Textile XD Gulistan SpinningSPOT Gulistan TextileSPOT Gulshan SpinningSPOT Hajra Textile Hira Txt. Mills LtdSPOT Ibrahim Fibres XD Ideal Spinning Idrees Textile XD Indus Dyeing XD Int Knitwear XD J K SpinningXDXB Kohinoor Ind Kohinoor Spinning XD Kohinoor Textile Masood TextileSPOT Mian Textile Mukhtar Textile Nagina Cotton Nishat (Chunian)SPOT Nishat Mills XD Pak Synthetic Paramount Spin. SPOT Prosperity XD Ravi Textile Reliance Weaving Rupali Poly XD Safa Textile Saif Textile Sajjad Textile Sally TextileSPOT Samin Textile XR Saritow Spinning Service Ind Shadman Cot Shahtaj Textile XD Shield Corp XD Suraj Cotton XD Tata Textile XD Thal LimitedXDXB Treet Corp Yousuf Weaving Zil Limited XD

Company

150 25 650

Abbott (Lab) Ferozsons (Lab) XB GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Otsuka Pak XD Searle Pak XD

17.5

10B -

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

61.88

Total Assets (Rs in mn)

16,668.04

MA (10-day)

1.56

Total Equity (Rs in mn)

(5,909.01)

1.86

Interest Expense Loss after Taxation

2nd Support

1.46

EPS 09 (Rs)

1st Resistance

1.73

Book value / share (Rs)

2nd Resistance

1.84

PE 10 E (x)

Pivot

1.65

PBV (x)

PE

High Low 960.25 934.59 Total cos Defaulter cos P/BV (x) ROE (%) 0.54 8.64

High

Low

Close Chg

2415 1.91 7.40 840 4.99 19.62 133 0.54 2.93 4493 290.25 11.74 76 0.99 11.29 76 4.71 540.69 1150 3.51 316 29.47 790.14 2442 2.73 3.00 238 0.94 492 3.14 21.82 600 1.76 514 44.75 38.90 600 2.50 3.40 204 1.26 24.39 110 0.61 20.14 234 1.08 40.07 75 7.28 29.08 326 1.02 3.40 192 52.96 71.25 635 3.01 23.80 146 1.45 7.00 190 1.61 18.84 185 1.79 10.09 138 0.31 716 1.30 4.69 3105 3.43 36.89 99 0.26 3.25 180 1.78 3.50 181 3.22 232.21 32 5.54 9.50 179 0.47 6.75 303 1.58 1300 1.05 1.19 1455 2.81 5.47 600 1.06 21.03 221 0.45 145 0.52 187 0.75 14.97 1586 2.90 21.81 3516 4.54 52.82 560 7.28 7.10 158 1.52 10.99 185 1.04 13.38 250 4.41 1.78 308 0.74 9.71 341 4.19 34.95 40 6.95 5.10 264 1.54 3.88 213 0.39 0.97 88 0.37 5.00 134 6.52 133 0.60 2.20 120 5.97 243.14 176 1.99 11.95 97 - 16.38 39 9.15 53.61 180 1.07 29.45 173 0.19 18.68 307 3.91 93.11 418 10.28 49.66 400 6.47 1.21 53 3.08 46.33

7.55 19.90 3.15 12.32 12.00 567.72 3.72 800.00 3.00 0.78 22.91 1.84 40.00 3.15 24.50 21.13 41.44 27.65 3.90 71.50 22.64 6.60 18.85 10.20 0.35 4.80 37.48 3.50 3.70 243.82 10.50 7.25 1.69 1.15 5.69 20.99 0.57 0.65 15.80 22.90 54.27 7.25 10.56 14.35 1.85 9.71 36.00 4.10 4.69 1.49 5.75 6.80 2.25 255.29 10.95 16.00 56.29 30.49 19.64 93.50 52.14 1.15 47.30

7.01 19.80 2.93 11.50 11.35 525.00 3.40 751.00 2.95 0.75 20.85 1.72 38.00 3.05 24.49 19.16 40.00 27.65 3.50 67.70 22.62 6.50 18.75 9.50 0.35 4.51 35.50 3.10 2.60 220.70 9.95 5.75 1.50 1.00 5.35 20.25 0.43 0.41 14.50 22.40 52.53 6.70 9.99 13.55 1.70 9.01 33.21 4.10 4.49 1.49 5.06 6.41 1.90 230.99 10.95 15.61 51.01 29.50 19.00 91.10 48.10 1.00 45.50

7.15 -0.25 19.87 0.25 2.94 0.01 11.61 -0.13 11.36 0.07 567.68 26.99 3.45 -0.06 784.95 -5.19 2.95 -0.05 0.76 -0.18 21.99 0.17 1.80 0.04 38.04 -0.86 3.15 -0.25 24.50 0.11 20.14 0.00 40.40 0.33 27.65 -1.43 3.50 0.10 71.50 0.25 22.64 -1.16 6.57 -0.43 18.85 0.01 9.85 -0.24 0.35 0.04 4.54 -0.15 37.16 0.27 3.10 -0.15 3.12 -0.38 243.31 11.10 10.48 0.98 6.99 0.24 1.50 -0.08 1.15 -0.04 5.37 -0.10 20.65 -0.38 0.43 -0.02 0.46 -0.06 14.55 -0.42 22.90 1.09 52.90 0.08 6.70 -0.40 10.39 -0.60 13.55 0.17 1.72 -0.06 9.70 -0.01 33.35 -1.60 4.10 -1.00 4.51 0.63 1.49 0.52 5.73 0.73 6.42 -0.10 2.19 -0.01 231.73-11.41 10.95 -1.00 15.61 -0.77 52.00 -1.61 29.90 0.45 19.61 0.93 91.54 -1.57 49.86 0.20 1.10 -0.11 46.00 -0.33

979 250 1707 165 200 100 306

10B 10B -

1.54

Open

Paid up Cap(mn)

-

2010 Div BR (%) (%)

1st Support

Open 884.49 Turnover 232,193 P/E (x) 6.74

2010 Div BR (%) (%)

2009 Div BR (%) (%)

% Change -0.17 5-Day High 1,152.43 5-Day Low 1,137.44

MA (200-day)

% Change -2.15 5-Day High 1,557.72 5-Day Low 1,433.87

10B 25B

(612.73)

Revenue (Rs in mn)

MA (100-day)

Close 943.83 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change -2.58 Market cap 119,924.22 mn Div Yield (%) 2.65

Last 60 days High Low

1882382 20.45 598 24.05 27797 3.45 15879793 12.50 3601 14.00 31217 567.72 49343 4.61 4250 800.00 3551 4.50 3000 1.90 105 27.00 44520 2.49 545 50.35 1000 4.00 205 30.90 9763 25.45 2553 48.30 503 38.64 2220 5.00 221 73.00 110 25.40 3003 8.13 120 24.84 35689 10.30 500 0.99 380615 4.88 3025 39.00 8000 4.79 5763 5.35 9266 269.50 5183 10.90 2112 10.30 1176 1.97 12001 2.00 17566 6.30 1681 23.25 130 0.98 5012 0.99 10854 17.50 4941888 22.90 8231033 54.27 5882 7.90 26858 11.25 3055 21.47 85195 4.69 11780 12.00 4394 36.75 200 5.10 220 5.44 1000 2.00 49602 6.20 8021 8.69 2996 2.99 30880 255.29 500 15.00 102 21.90 268 60.00 5501 37.50 52715 21.42 32429 112.80 953395 52.14 12814 1.90 4707 48.75

6.71 17.55 1.35 8.55 7.50 436.00 2.93 615.00 2.23 0.48 17.89 1.44 37.08 2.05 20.80 17.21 33.80 26.70 1.11 57.50 19.99 5.00 17.89 5.31 0.13 2.52 34.05 2.02 2.56 205.00 7.00 5.12 1.01 0.56 4.00 18.51 0.01 0.25 12.00 14.64 40.81 5.16 6.00 12.51 1.38 6.91 31.35 2.76 2.01 0.16 2.74 5.02 1.01 176.00 8.00 14.75 49.60 29.30 14.00 88.60 37.20 0.73 33.00

PHARMA AND BIO TECH

Close 1,524.26 Listed cap 1,336.62 mn Payout (%) 131.49

20B 20B

Total Equity (Rs in mn)

1.73

PERSONAL GOODS

Performance of SR Pharma and Bio Tech Index

High Low 1,577.78 1,512.22 Total cos Defaulter cos P/BV (x) ROE (%) 3.05 38.02

90 100 25 60 20 150 10

20B 30B 20B

Change -1.91 Market cap 5,496.55 mn Div Yield (%) 2.09

INDUSTRIAL ENGINEERING

Paid up Cap(mn)

Ados Pak AL-Ghazi Tractor Bolan CastingXDXB Ghandhara Ind Hinopak Motor KSB Pumps Millat TractorsXDXB

Volume

Change -9.31 Market cap 33,691.81 mn Div Yield (%) 6.01

40 100 80 15 50 100 5 -

Total Assets (Rs in mn)

1.59

MA (100-day)

Performance of SR Personal Goods Index Open 946.42 Turnover 32,914,601 P/E (x) 6.29 Paid up Cap(mn)

Close Chg

Close 1,149.96 Listed cap 3,763.71 mn Payout (%) 6.27

Performance of SR Industrial Engineering Index Open 1,557.72 Turnover 277,307 P/E (x) 8.02 Company

2.18 0.06 -0.39 0.09 -2.50 -2.98 -1.47

Close 907.97 Listed cap 3,043.31 mn Payout (%) 15.55

2010 Div BR (%) (%)

58.20

MA (10-day)

Performance of SR Household Goods Index

Company

Change -19.21 Market cap 69,736.86 mn Div Yield (%) 2.42

2009 Div BR (%) (%)

Change 7.24 Market cap 193,379.77 mn Div Yield (%) 0.93

Performance of SR Construction and Materials Index Open 992.98 Turnover 14,939,480 P/E (x) 7.87

% Change -1.10 5-Day High 1,123.44 5-Day Low 1,097.00

RSI (14-day)

HOUSEHOLD GOODS

20B -

CONSTRUCTION AND MATERIALS

68.00 153.09 109.20 31.00 1.48 152.50 24.00 4.40 4.84 11.72 232.60 73.84 21.00

0.72 12.60 13.55 13.23 13.55 4.35 42.70 43.01 42.80 42.80 0.75 9.15 9.50 9.15 9.25 3.18 19.75 19.70 19.50 19.70 6.25 30.53 30.40 29.81 30.31 11.57 12.15 12.70 12.15 12.50 - 11.98 11.75 10.98 10.98 2.65 76.00 79.60 76.50 79.03 5.30 5.89 4.30 4.33 0.30 5.00 5.40 4.80 4.80 8.57 70.99 70.50 70.50 70.50 16.03 42.87 43.98 42.00 42.96 10.05 22.46 21.75 21.34 21.60 - 12.98 12.95 12.70 12.95 2.23 2.21 2.13 2.21 5.40 5.95 4.71 5.05 283.36 30.40 31.92 30.50 31.17 22.68 4020.00 4079.99 3992.01 4050.18

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

-

FOOD PRODUCERS

Company

Change -9.83 Market cap 8,862.81 mn Div Yield (%) 10.55

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 1,209.45 1,186.80 Total cos Defaulter cos P/BV (x) ROE (%) 2.62 35.00

30

Japan Power Generation Limited

% Change -1.72 5-Day High 747.52 5-Day Low 718.06

AUTOMOBILE AND PARTS

Performance of SR Chemicals Index Open 1,200.05 Turnover 32,559,147 P/E (x) 7.47

2009 Div BR (%) (%)

Alert ! Unusual Movements

High Low 896.14 859.64 Total cos Defaulter cos P/BV (x) ROE (%) 1.50 22.31

PE

Open

High

Low

8.50 6.61 12.79 6.89 17.78 7.14 5.32

94.82 89.00 74.61 24.53 8.32 31.00 62.07

97.50 88.00 75.00 24.95 8.89 32.50 62.85

93.00 86.60 70.88 24.49 7.77 31.50 61.50

Close 873.86 Listed cap 3,904.20 mn Payout (%) 44.54

Close Chg

Volume

96.95 87.46 71.10 24.89 8.00 32.00 62.06

22942 1200 24448 1805 7454 3220 171119

2.13 -1.54 -3.51 0.36 -0.32 1.00 -0.01

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 15 5 20 10B 7.5 35 70 8 400R 25 10 5 - 12.5 - 10B 10 - 10B 10 - 10B 10 20B 10 20 10 15 6 20 5B 5 15 15 100R - 20SD - 50R 15 20 25 45R 12.5 - 10B 10 10B 20 30 - 25SD 40 40 10 - 100R 200 20 45 - 30B 10 15 50 25 20 20B 80 20B 40 10B 35 -

Revenue (Rs in mn)

4,169.62 2,050.22 (6,233.79) (17.017) (16.13) (0.10)

DSFL closed up 0.030 at 1.660. Volume was 229 per cent above average (trending) and Bollinger Bands were 2 per cent wider than normal. The company's loss after taxation stood at Rs10.744 billion which translates into a Loss Per Share of Rs2.93 for the nine months of fiscal year (9MFY10). DSFL is currently 11.0 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into DSFL (mildly bullish). Trend forecasting oscillators are currently bullish on DSFL.

Bank of Khyber Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

64.04

Total Assets (Rs in mn)

38,810.57

MA (10-day)

3.27

Total Equity (Rs in mn)

5,962.30

MA (100-day)

3.45

Revenue (Rs in mn)

999.63

MA (200-day)

3.94

Interest Expense

2,390.39

1st Support

3.43

Loss after Taxation

(637.18)

2nd Support

3.23

EPS 09 (Rs)

1st Resistance

3.75

Book value / share (Rs)

2nd Resistance

3.87

PE 10 E (x)

3.59

Pivot

3.55

PBV (x)

0.30

(1.273) 11.92

BOK closed up 0.33 at 3.59. Volume was 1,485 per cent above average (trending) and Bollinger Bands were 31 per cent wider than normal. The company's profit after taxation stood at Rs251.784 million which translates into an Earning Per Share of Rs0.50 for the half year of current calendar year (1HCY10). BOK is currently 8.9 per cent below 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 BOK (mildly bullish). Trend forecasting oscillators are currently bullish on BOK.

BOOK CLOSURES Company

From

To

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 Summit Bank Bestway Cement Dar Es Salam Textile Mills Gulistan Spinning Mills Gulistan Textile Mills Hira Textile Mills

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 29-Oct 29-Oct 29-Oct 29-Oct 29-Oct

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 05-Nov 05-Nov 05-Nov 31-Oct 31-Oct 04-Nov

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

Spot AGM/Date 19-Oct 20-Oct 20-Oct 20-Oct 21-Oct 21-Oct 21-Oct

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

INDICATIONS

Change -10.63 Market cap 29,095.42 mn Div Yield (%) 6.61

Last 60 days High Low 97.50 124.00 82.50 25.79 8.90 33.60 64.19

2009 Div BR (%) (%)

% Change -0.27 5-Day High 946.42 5-Day Low 915.32

1.61

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

20B 15B

% Change -1.20 5-Day High 884.49 5-Day Low 853.50 2010 Div BR (%) (%) 20 30

20B -

# Extraordinary General Meeting

OTHER SECTORS Symbols

Open

Pakistan Cables 54 TRG Pakistan Ltd. 4.3 Murree BreweryXDXB 75 Shakarganj Food 1.2 Shezan Internat.XD 97.9 Grays of Cambr.XD 48.2 Lakson Tobacco 342.65 Pak Tobacco 112.01 Shifa Int.Hosp.XD 30.98 Eye Television 21.01 P.I.A.C.(A) 2.21 AKD Capital 58.92 Pace (Pak) Ltd. 3.36 Netsol Technol.XD 18.52 Pak Telephone 1.81

High 54.5 4.38 75.85 0.95 96 49.95 344 113 31.5 21.5 2.29 60 3.41 18.75 1.95

Low Close 53 4.07 73.5 0.91 93.2 45.79 335 112.5 29.44 21 2.13 55.98 3.11 18.21 1.7

53 4.09 73.85 0.93 93.65 45.82 341 112.5 29.44 21 2.24 55.98 3.15 18.34 1.7

Change -1 -0.21 -1.15 -0.27 -4.25 -2.38 -1.65 0.49 -1.54 -0.01 0.03 -2.94 -0.21 -0.18 -0.11

Vol 1001 1661181 4921 1500 1290 3168 120 1055 411 275 26162 29402 1108581 354075 1002


7

Wednesday, October 27, 2010

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,156.57 Turnover 1,673,083 P/E (x) 6.14 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 1,171.88 1,126.46 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84

PE

Open

High

Low

Close Chg

4.54 9.13 1.01 -

92.55 19.52 2.44 2.77 3.90

93.00 19.74 2.50 2.87 3.99

90.00 19.04 2.34 2.67 3.80

92.17 19.18 2.36 2.67 3.84

-0.38 -0.34 -0.08 -0.10 -0.06

Close 1,134.70 Listed cap 50,077.79 mn Payout (%) 62.56

Last 60 days High Low

Volume 503 947169 418446 306965 80736

Change -21.87 Market cap 78,484.84 mn Div Yield (%) 10.19

120.61 19.94 2.97 3.09 5.85

% Change -1.89 5-Day High 1,156.57 5-Day Low 1,129.75

2009 Div BR (%) (%)

90.00 17.32 1.80 2.30 3.60

70 15 -

-

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

-

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

204 6.51 369 4.92 279 5.80 457 6.84 1250 35.77 718 14.22 791 9.90 3000 250 1.42 350 303 5.03 252 4.40 253 1.74 400 1.56 210 -

Paid up Cap(mn)

Company

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

PE

198 11572 6.30 1560 7932 126 2.39 8803 4.92 3673 3541 96.86 191 3.37 1367 150 -

Open

High

0.90 34.25 1.54 2.21 4.50 40.12 12.50 13.51 19.49 2.21 0.86

1.10 34.50 2.25 2.30 4.80 41.26 12.77 13.99 19.60 2.25 1.10

Low 0.82 33.91 1.52 2.11 4.80 40.30 12.52 13.41 18.90 2.08 0.81

Close Chg 0.95 34.01 1.68 2.14 4.80 40.48 12.69 13.56 18.90 2.14 0.95

0.05 -0.24 0.14 -0.07 0.30 0.36 0.19 0.05 -0.59 -0.07 0.09

Close 1,188.38 Listed cap 95,369.29 mn Payout (%) 104.13

Volume 82045 648884 1314412 330925 1500 956340 2097909 6634701 101 538677 40900

Change -3.71 Market cap 98,146.22 mn Div Yield (%) 7.94

Last 60 days High Low 1.45 37.24 2.25 2.50 6.70 43.90 12.90 13.99 23.49 3.19 1.58

0.51 32.75 0.70 1.92 3.90 38.35 9.50 9.25 18.70 2.05 0.33

% Change -0.31 5-Day High 1,192.09 5-Day Low 1,170.85

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

31R -

2010 Div BR (%) (%)

Open 871.21 Turnover 3,987 P/E (x) 96.25

Company

High Low 1,772.82 1,709.10 Total cos Defaulter cos P/BV (x) ROE (%) 1.25 11.41

Close 1,734.41 Listed cap 12,202.80 mn Payout (%) 66.79

Change 10.10 Market cap 37,141.19 mn Div Yield (%) 6.08

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 8390

9.13 3.69

31.05 23.75

31.59 24.60

30.30 23.80

30.68 -0.37 24.19 0.44

438959 405484

33.40 30.70

Sui North Gas Sui South GasXDXB

25.00 16.00

% Change 0.59 5-Day High 1,734.41 5-Day Low 1,654.11

2009 Div BR (%) (%) -

-

2010 Div BR (%) (%) 20 15

25B

BANKS Performance of SR Banks Index Open 1,032.82 Turnover 21,811,472 P/E (x) 7.18 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 5.38 55.80 Askari Bank 6427 6.76 16.02 Atlas Bank 5001 1.91 Bank Alfalah 13492 13.05 9.99 Bank AL-Habib 7322 6.90 31.79 Bank Of Khyber 5004 3.59 3.26 Bank Of Punjab 5288 9.04 BankIslami Pak 5280 3.47 Faysal Bank 6091 3.29 14.52 Habib Bank Ltd 10019 6.55 104.11 Habib Metropolitan Bank 8732 6.68 21.50 JS Bank Ltd 6128 2.57 KASB Bank Ltd 9509 2.49 MCB Bank Ltd 7602 9.48 204.61 Meezan Bank 6983 8.10 15.16 Mybank Ltd 5304 2.19 National Bank 13455 5.63 67.81 NIB Bank 40437 2.92 Royal Bank Ltd 17180 6.75 Samba Bank 14335 2.03 Silkbank Ltd 26716 12.73 2.84 Soneri Bank 6023 6.58 Stand Chart Bank 38716 3.33 6.85 Summit Bank Ltd 5000 3.13 United Bank Ltd 12242 6.76 55.30

High

High Low Close 1,051.92 1,019.71 1,032.69 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.97 13.45 34.35 Low

Close Chg

55.99 54.82 55.34 -0.46 16.65 15.90 16.35 0.33 2.08 1.91 1.95 0.04 10.08 9.65 9.79 -0.20 32.49 31.85 32.01 0.22 3.67 3.35 3.59 0.33 9.19 8.79 8.82 -0.22 3.55 3.30 3.31 -0.16 14.69 14.20 14.26 -0.26 105.00 100.71 101.73 -2.38 22.57 22.00 22.57 1.07 2.68 2.50 2.66 0.09 2.55 2.40 2.42 -0.07 206.39 202.40 203.20 -1.41 15.45 15.06 15.30 0.14 2.28 2.14 2.17 -0.02 68.44 66.90 67.11 -0.70 2.97 2.81 2.87 -0.05 6.70 6.35 6.39 -0.36 2.10 2.00 2.05 0.02 2.94 2.76 2.80 -0.04 7.25 6.55 6.84 0.26 6.95 6.15 6.80 -0.05 3.10 2.97 3.00 -0.13 57.82 55.00 57.47 2.17

Volume

Change -0.13 Market cap 626,060.86 mn Div Yield (%) 4.78

Last 60 days High Low

370315 59.10 1825289 16.96 17554 2.84 1498912 10.19 91146 33.75 1106276 3.99 1637022 10.49 91006 3.69 52481 15.24 185989 109.10 111810 22.57 198549 2.90 37528 3.70 952005 214.20 2402 15.95 66112 2.79 4662415 73.89 570347 3.31 21681 11.99 55855 2.65 1129663 3.30 430945 7.25 6602 8.50 166724 3.78 6689568 58.35

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 -0.01 5-Day High 1,032.82 5-Day Low 996.53

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 711.32 Turnover 1,354,011 P/E (x) 11.59 Paid up Cap(mn)

Company

Adamjee Insurance XD

High Low 721.44 687.33 Total cos Defaulter cos P/BV (x) ROE (%) 0.60 5.20

Close 693.76 Listed cap 11,111.34 mn Payout (%) 79.54

Change -17.56 Market cap 43,752.38 mn Div Yield (%) 6.87

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 13.07

74.38

75.25

71.15

71.91 -2.47

620174

89.50

63.05

2009 Div BR (%) (%) 30

10B

% Change -2.47 5-Day High 711.32 5-Day Low 693.76 2010 Div BR (%) (%) 10

-

10.74 33.33 51.05 10.94 45.07 80.51 58.00 15.23 6.01 2.95 9.30 6.43 7.01 6.25 2.75

-0.21 -0.50 0.00 -0.06 -1.29 -0.29 -0.14 -0.73 -0.05 -0.55 -0.02 -0.18 -0.04 0.45 -0.27

3172 9401 200 36180 28673 7325 2600 602416 728 30571 1703 235 9601 600 331

12.25 35.00 64.90 11.99 54.50 84.00 60.50 18.40 7.11 4.16 10.30 7.70 10.00 6.34 4.00

8.45 27.10 47.37 9.42 34.76 66.02 52.21 12.50 5.06 1.66 8.00 6.05 6.00 4.02 1.77

40 20 40 35 30 30 5 20 -

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

10 10 -

UPTO 100 VOLUME

25R 10B 20B -

Symbols HICL PICTPS BUXL BRR BILF FZTM MIRKS RMPL MRNS NESTLE GATI SANSM AGSML NJLIC EMCO PSEL PNGRS SHSML TRIBL JVDC PHDL FIMM CWSM NSRM SHJS ISIL ASFL FEM MODAM TRSM LMSM SFL KML SAPL FUDLM FZCM MQTM NATM SRSM SHTM CSUML SGPL TREI WYETH AKGL ARM ESBL ALICO CSIL AZTM AATM BCML DMTM SHDT ARUJ BHAT ISTM JUBS BTL FASM AASM TRPOL AABS BAFS MLCFPS ALTN KOHE PECO ATEL

PE

Open

850 40.92

77.43

High Low 867.67 857.30 Total cos Defaulter cos P/BV (x) ROE (%) 3.71 3.85

Close 858.52 Listed cap 2,290.72 mn Payout (%) 355.53

Change -12.69 Market cap 10,025.43 mn Div Yield (%) 3.69

High

Low

Close Chg

Volume

Last 60 days High Low

77.47

75.00

75.29 -2.14

3961

82.99

% Change -1.46 5-Day High 887.16 5-Day Low 858.52

2009 Div BR (%) (%)

51.25

5513.33B

2010 Div BR (%) (%) -

-

FINANCIAL SERVICES Performance of SR Financial Services Index Open 387.17 Turnover 14,826,669 P/E (x) 0.46

High Low 397.14 368.79 Total cos Defaulter cos P/BV (x) ROE (%) 0.17 37.22

Paid up Cap(mn)

PE

Open

High

Low

AMZ Ventures 225 Arif Habib Investments XB360 Arif Habib Limited XB 450 Arif Habib Securities 3750 Arpak Int 40 Dawood Equities 250 First Credit & Invest Bank Ltd 650 First National Equity 575 Grays Leasing 215 IGI Investment Bank 2121 Invest and Fin Sec XD 600 Invest Bank 2849 Ist Cap Securities XB 3166 Ist Dawood Bank 626 Jah Siddiq Co 7633 JOV and CO 508 JS Global Cap XD 500 JS Investment 1000 KASB Securities 1000 Orix Leasing 821 Pervez Ahmed Sec 775 Saudi Pak Leasing 452 Stand Chart Leasing 978

3.25 13.75 4.37 3.97 33.33 12.69 2.47 1.48 0.32 25.21 3.97 4.79

0.59 17.00 28.36 24.95 12.00 1.81 3.01 7.80 1.22 2.01 7.74 0.65 3.90 2.00 10.44 2.72 28.27 6.28 4.09 5.50 1.94 0.55 2.68

0.60 17.05 28.50 25.41 11.00 1.98 4.01 8.65 1.50 2.09 7.70 0.88 4.00 2.10 10.68 2.84 29.68 6.33 4.40 5.70 2.08 0.64 2.50

0.52 16.50 26.95 23.71 11.00 1.51 3.40 6.84 1.30 2.01 7.10 0.60 3.60 1.87 9.92 2.55 29.68 6.01 3.90 5.30 1.70 0.46 2.30

Close Chg 0.57 16.50 26.95 23.79 11.00 1.63 4.00 8.54 1.35 2.03 7.10 0.80 3.60 1.94 9.98 2.66 29.68 6.05 4.04 5.40 1.74 0.48 2.30

-0.02 -0.50 -1.41 -1.16 -1.00 -0.18 0.99 0.74 0.13 0.02 -0.64 0.15 -0.30 -0.06 -0.46 -0.06 1.41 -0.23 -0.05 -0.10 -0.20 -0.07 -0.38

Close 372.85 Listed cap 30,336.44 mn Payout (%) 4.60

Volume 33555 60044 263969 4332895 2203 2165439 8791 1501 1012 5010 1152 419326 55784 59454 6606101 432891 11170 177038 18301 3700 175397 451 261

Change -14.32 Market cap 26,688.06 mn Div Yield (%) 10.03

% Change -3.70 5-Day High 387.17 5-Day Low 369.37

Last 60 days High Low

2009 Div BR (%) (%)

1.10 20.99 45.74 34.99 18.37 2.91 4.50 11.75 4.00 2.30 9.00 1.00 5.29 2.84 14.04 5.71 40.89 7.89 5.25 5.95 2.57 1.70 3.00

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

0.42 13.00 24.62 20.90 4.00 1.51 2.00 6.84 0.32 1.17 6.70 0.44 2.54 1.17 8.80 1.96 24.25 5.10 3.20 3.66 1.35 0.40 1.50

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

Symbols

Company

Paid up Cap(mn)

1st Fid Leasing AL-Meezan Mutual F.XD AL-Noor Modaraba XD Atlas Fund of Funds Constellation Modaraba Crescent St Mod. XD Elite Cap Mod.XD 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 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

High Low 1,070.87 1,034.33 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 4.09

PE

Open

High

Low

264 1375 5.17 210 4.17 525 2.58 65 3.79 200 1.78 113 2.78 300 4.95 581 760 2.99 397 4.62 1008 5.24 3180 36.00 1186 9.86 1200 5.53 1698 3.85 3000 6.88 59 7.14 1000 1.64 2835 5.20 2841 4.20 872 2.53 340 6.90 454 4.31 212 4.84

1.45 6.25 2.60 3.32 1.50 0.77 2.14 4.50 1.73 2.81 5.21 6.01 2.90 2.60 5.52 7.96 7.05 8.00 5.61 8.20 3.71 0.99 1.47 8.60 1.32

1.47 6.29 2.60 3.35 1.39 0.89 2.47 4.75 1.77 2.80 5.22 6.10 2.99 2.87 5.75 8.10 7.21 8.00 5.70 8.29 3.83 0.99 1.59 9.00 1.84

1.33 6.10 2.50 3.25 1.16 0.65 1.81 4.60 1.30 2.70 5.21 5.99 2.75 2.66 5.51 7.50 7.05 7.99 5.60 8.06 3.58 0.92 1.45 8.80 1.25

Close Chg 1.33 6.20 2.50 3.35 1.25 0.71 1.81 4.60 1.56 2.75 5.22 6.08 2.88 2.76 5.75 8.08 7.15 8.00 5.65 8.11 3.70 0.96 1.45 8.80 1.84

-0.12 -0.05 -0.10 0.03 -0.25 -0.06 -0.33 0.10 -0.17 -0.06 0.01 0.07 -0.02 0.16 0.23 0.12 0.10 0.00 0.04 -0.09 -0.01 -0.03 -0.02 0.20 0.52

Close 1,056.87 Listed cap 29,771.58 mn Payout (%) 104.19

Change -3.50 Market cap 17,364.46 mn Div Yield (%) 26.64

% Change -0.33 5-Day High 1,062.96 5-Day Low 1,051.99

Volume

Last 60 days High Low

2009 Div BR (%) (%)

101 65653 5100 4501 16297 77859 265 6001 1201651 32609 1492 10401 17710 479259 3000 164401 192297 2024 36210 10110 61211 4007 19003 2101 118

2.24 7.25 3.44 4.50 2.99 1.10 3.44 4.75 2.00 3.88 6.80 7.44 3.70 3.98 7.00 9.86 8.10 9.45 6.49 10.25 5.00 1.20 2.00 10.99 7.12

4.5 5 20 10 15 16.5 -

1.01 5.85 2.10 2.53 0.90 0.16 1.65 0.99 1.30 2.32 4.80 5.56 2.65 2.31 5.30 7.00 6.01 6.55 4.00 7.60 3.50 0.70 0.57 7.75 0.50

2010 Div BR (%) (%)

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

11.25 11.5 11.01 1.25 0.71 389.99 57 1549.5 58.97 1954.01 44.6 13.85 5.3 42.36 2.8 150 5.69 11.24 1.57 59.9 38.29 45.37 1.57 16.19 65 74.97 4.13 1.15 0.99 2.39 3.25 120 2.7 132.54 5.4 49.08 9.25 9.7 1.99 0.7 3.9 0.71 1.78 801 5.5 14.5 2.84 17.5 4.3 0.56 0.75 15 3.5 8.6 4.5 185 5 2.99 47 29 31.97 0.72 96.5 50.83 5 11 22.84 299.5 17

Open

NML-OCT 52.81 NML-NOV 53.37 MCB-OCT 204.59 DGKC-OCT 27.49 NBP-OCT 67.82 OGDC-OCT 152.87 ENGRO-OCT 178.15 ANL-OCT 11.72 ANL-NOV 11.85 NBP-NOV 68.39 ENGRO-NOV 178.43 POL-OCTB 245.85 MCB-NOV 205 PPL-OCT 191.34 POL-NOV 247.02 DGKC-NOV 27.58 PSO-OCT 269.69 PPL-NOV 191.23 AICL-NOV 75.09 PSO-NOV 270.9 OGDC-NOV 153 AICL-OCT 74.76 LUCK-OCT 72.98 UBL-OCT 55.2 FFBL-OCT 30.58 FFBL-NOV 31.08 LUCK-NOV 73.01 FFC-OCT 109.32 NETSOL-NOV 18.81 PTC-OCT 19.65 UBL-NOV 56.16

Performance of SR Equity Investment Instruments Index Open 1,060.37 Turnover 2,413,492 P/E (x) 6.88

Open

High 11.35 10.55 10.66 1.25 1.19 409 59.85 1626 59.2 1989.8 44.4 13.85 6 42.05 3 142.68 5.99 11.5 2.57 61 40.2 47.63 1.57 16 64.75 76.75 3.13 1.18 1.03 1.5 4 120.8 3.68 138.85 5.46 46.63 10.24 9.7 2.3 0.9 3.99 1.65 2.75 810 6.25 14.9 2.79 17.5 4.01 1.56 0.96 15 4.39 9.6 5 185 5.89 3.49 47.5 29.99 31.99 0.65 95.9 53.35 5.98 11 23.69 305 17.9

Low

Close

11.35 10.55 10.66 1.25 0.9 380.01 57 1549 57.25 1930.23 42.37 13.85 5.02 42.05 2.46 142.57 5.86 11.25 1.41 57.11 38.51 47.63 1 16 64.75 76.75 3.13 1.16 1.03 1.5 2.25 120.8 2.05 132 5.11 46.63 8.25 8.7 2 0.9 3.99 0.99 1.99 810 4.9 14.9 2.79 17.5 4.01 1.56 0.96 15 4.39 9.59 5 185 5.89 3.49 47.5 29.99 31.99 0.65 95.9 53.35 5.98 11 23.35 300 17.9

11.35 10.55 10.66 1.25 1.06 397.6 58.24 1625 58.99 1949.97 42.37 13.85 5.02 42.05 2.56 142.63 5.86 11.25 1.41 59.5 38.86 47.63 1.46 16 64.75 76.75 3.13 1.16 1.03 1.5 3.13 120.8 2.33 138.85 5.46 46.63 8.25 9.7 2 0.9 3.99 0.99 1.99 810 4.9 14.9 2.79 17.5 4.01 1.56 0.96 15 4.39 9.59 5 185 5.89 3.49 47.5 29.99 31.99 0.65 95.9 53.35 5.98 11 23.35 300 17.9

Change

Vol

0.1 -0.95 -0.35 0 0.35 7.61 1.24 75.5 0.02 -4.04 -2.23 0 -0.28 -0.31 -0.24 -7.37 0.17 0.01 -0.16 -0.4 0.57 2.26 -0.11 -0.19 -0.25 1.78 -1 0.01 0.04 -0.89 -0.12 0.8 -0.37 6.31 0.06 -2.45 -1 0 0.01 0.2 0.09 0.28 0.21 9 -0.6 0.4 -0.05 0 -0.29 1 0.21 0 0.89 0.99 0.5 0 0.89 0.5 0.5 0.99 0.02 -0.07 -0.6 2.52 0.98 0 0.51 0.5 0.9

100 100 100 77 74 66 60 46 42 41 39 30 26 25 22 22 21 20 14 12 11 10 10 10 10 10 6 5 5 5 4 4 3 3 2 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 1 1

FUTURE CONTRACTS

EQUITY INVESTMENT INSTRUMENTS

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

Paid up Cap(mn)

EFU Life Assurance XB

Company

Performance of SR Gas Water and Multiutilities Index Open 1,724.31 Turnover 844,443 P/E (x) 10.99

Company

50 - 7.8R 50 20 -

GAS WATER AND MULTIUTILITIES

10.10 33.05 51.05 10.55 44.51 80.02 58.00 15.13 5.90 2.62 9.00 6.42 6.92 6.25 2.70

LIFE INSURANCE

Performance of SR Electricity Index High Low 1,211.74 1,182.97 Total cos Defaulter cos P/BV (x) ROE (%) 1.23 9.35

11.50 35.00 51.05 11.68 46.55 83.00 60.50 16.13 6.90 3.80 9.50 6.43 7.10 6.34 2.75

Performance of SR Life Insurance Index

ELECTRICITY Open 1,192.09 Turnover 12,564,353 P/E (x) 13.11

10.95 33.83 51.05 11.00 46.36 80.80 58.14 15.96 6.06 3.50 9.32 6.61 7.05 5.80 3.02

-

High 54.25 54.6 206 27.49 68.25 153.7 179.48 12.25 12.25 68.69 179.45 246.9 206 192.35 247.7 27.58 270.9 192 76.1 270.9 153 74.9 73.74 57.8 30.7 30.75 73.5 109.32 18.81 19.6 57

Low

Close

52.65 53.2 202.6 26.7 67 152.25 176.86 11.5 11.67 67.4 176.6 241.5 203 190 242.2 26.9 267 190.35 72.05 266.5 152 71.6 71.8 54.95 30.4 30.75 72 109.32 18.81 19.6 57

52.84 53.47 203.29 26.78 67.15 153.36 177.17 11.69 11.75 67.66 176.92 242.47 203.29 190.55 243.46 26.97 267.33 191.16 72.8 266.89 152.31 72.44 72.4 57.43 30.7 30.75 73 109.32 18.81 19.6 57

Change 0.03 0.1 -1.3 -0.71 -0.67 0.49 -0.98 -0.03 -0.1 -0.73 -1.51 -3.38 -1.71 -0.79 -3.56 -0.61 -2.36 -0.07 -2.29 -4.01 -0.69 -2.32 -0.58 2.23 0.12 -0.33 -0.01 0 0 -0.05 0.84

Vol 640000 578000 396500 377500 337500 297500 274500 217500 211500 176500 146500 143500 141500 136000 120500 111000 76500 63500 62500 48000 39500 30000 28000 26500 25500 25000 22500 5000 4000 2500 2000

ZERO VOLUME Symbols

Open

TSMF FNBM PAKMI SIBL ALQT APOT DATM GLAT

2.2 7.23 1.05 2.51 3 3.99 0.32 7.9

High

Low

Close

1.77 7.1 0.95 2.52 3.65 4 0.34 7.5

1.77 7.1 0.95 2.52 3.65 4 0.34 7.5

1.77 7.1 0.95 2.52 3.65 4 0.34 7.5

Change

Vol

-0.43 -0.13 -0.1 0.01 0.65 0.01 0.02 -0.4

0 0 0 0 0 0 0 0

BOARD MEETINGS

Nishat Mills Ltd

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

Fair Value

*Arif Habib Ltd AKD Securities Ltd

*Arif Habib Ltd

59.97

Buy

AKD Securities Ltd

Positive

TFD Research

10,616.15

MA (5-day)

10,611.82

Support 2

10,574.15

MA (10-day)

10,523.92

Resistance 1

10,724.00

MA (100-day)

9,981.13

Resistance 2

10,789.80

Technical Analysis

MA (200-day)

9,994.53

Pivot

10,682.00

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

TFD Research

74.2

Technical Outlook

Index will continue to find its 1st support level at 10,616.15 and 2nd sup-

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

Fair Value

Rs Recommendations

*Arif Habib Ltd

56.82

Accumulate

AKD Securities Ltd

78.44

Positive

TFD Research

175.80 9,299.82 238.92 53.13

* 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

79.63 53.88 54.51 57.82

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

Brokerage House

Fair Value

Rs Recommendations

oscillators are currently bullish on NML.

306.04 17,588.40 44.86 56.40

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

Brokerage House

Buy

*Arif Habib Ltd

AKD Securities Ltd

43.29

Buy

AKD Securities Ltd

TFD Research

36.85

Positive

TFD Research

58.37 26.70 25.40 27.10

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

182.55 4,877.73 25.10 27.13

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

Neutral

92.3

Positive

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

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

Fair Value 23

Rs Recommendations

Brokerage House

Buy

*Arif Habib Ltd

14.75

Neutral

AKD Securities Ltd

23.67

Positive

TFD Research

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

74.14 15.43 15.28 18.83

318.37 21,365.61 61.70 67.57

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

NBP is currently 1.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-

Rs Recommendations

Brokerage House

Buy

*Arif Habib Ltd

10.25

Accumulate

AKD Securities Ltd

14.01

Positive

TFD Research

14

321.37 5,254.43 N/A 16.23

* 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)

69.90 9.26 8.87 10.41

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

Fair Value 33 32.06 29.1

Rs Recommendations Buy Accumulate Neutral

Technical Outlook

Technical Outlook

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

Fair Value

674.58 6,604.12 N/A 9.88

* 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)

66.33 30.13 28.10 29.52

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

326.94 9,922.58 6.13 30.49

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

DGKC closed down -0.76 at 26.72. Volume was 26 per cent above aver- AKBL closed up 0.33 at 16.35. Volume was 581 per cent above average BAFL closed down -0.20 at 9.79. Volume was 19 per cent below average FFBL closed down -0.25 at 30.35. Volume was 28 per cent below average age and Bollinger Bands were 30 per cent wider than normal. DGKC is currently 1.4 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

(trending) and Bollinger Bands were 5 per cent wider than normal.

and Bollinger Bands were 55 per cent wider than normal.

and Bollinger Bands were 48 per cent wider than normal.

AKBL is currently 13.2 per cent below its 200-day moving average and is BAFL is currently 6.0 per cent below its 200-day moving average and is FFBL is currently 4.4 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 AKBL (bullish). Trend forecasting

Time

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 28-Oct 29-Oct 29-Oct

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 10:00 3:00 11:00

TECHNICAL LEVELS

Leverage Position

62.49 65.73 65.56 71.82

Date

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 United Bank Ltd NIB Bank Limited Security Leasing Corp Ltd

Company

Fauji Fertiliser Bin Qasim Ltd

Bank Al-Falah Ltd

Technical Outlook

Technical Outlook Technical Analysis

Buy

61.96

ing oscillators are currently bullish on NBP.

indicating that UBL is currently in an overbought condition.

Askari Bank Ltd

44

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

Rs Recommendations

65

NML closed up 0.08 at 52.90. Volume was 234 per cent above average UBL closed up 2.17 at 57.47. Volume was 723 per cent above average NBP closed down -0.70 at 67.11. Volume was 142 per cent above average (trending) and Bollinger Bands were 9 per cent wider than normal. (trending) and Bollinger Bands were 14 per cent wider than normal. and Bollinger Bands were 22 per cent narrower than normal.

Dera Ghazi Khan Cement Co Ltd

*Arif Habib Ltd

Fair Value

Technical Outlook

port level at 10,574.15. KSE 100 INDEX is currently 6.7 per cent above its 200-day moving average NML is currently 2.2 per cent above its 200-day moving average and is dis- UBL is currently 0.6 per cent below its 200-day moving average and is disand is displaying an upward trend. Volatility is relatively normal as compared playing an upward trend. Volatility is relatively normal as compared to the playing an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators to the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into INDEX (mildly bullish). Trend forecastreflect very strong flows of volume into UBL (bullish). Trend forecasting ing oscillators are currently bullish on INDEX. Momentum oscillator is cur- reflect very strong flows of volume into NML (bullish). Trend forecasting oscillators are currently bullish on UBL. Momentum oscillator is currently rently indicating that INDEX is currently in an overbought condition.

Brokerage House

Buy

77

Technical Outlook

Leverage Position

69.11 51.53 47.02 51.77

per cent above average and Bollinger Bands were 23 per cent wider than MA (200-day) normal. As far as resistance level is concern, the market will see major 1st resistance level at 10,724.00 and 2nd resistance level at 10,789.80, while

Brokerage House

Buy

Support 1

KSE 100 INDEX closed down -45.56 points at 10,658.15. Volume was 112

Rs Recommendations

65

76.04

National Bank of Pakistan

United Bank Ltd

Company

displaying an upward trend. Volatility is extremely high when compared to displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators

reflect moderate flows of volume into DGKC (mildly bullish). Trend fore- oscillators are currently bullish on AKBL. Momentum oscillator is currently reflect very strong flows of volume into BAFL (bullish). Trend forecasting reflect very strong flows of volume into FFBL (bullish). Trend forecasting oscillators are currently bullish on FFBL. oscillators are currently bullish on BAFL. casting oscillators are currently bullish on DGKC. indicating that AKBL is currently in an overbought condition.

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

RSI 1st 2nd (14-day) Support 47.14 3.10 3.00 66.75 54.75 54.20 44.77 62.60 61.60 45.26 26.45 25.90 51.60 23.20 22.60 55.27 70.30 68.65 74.14 15.95 15.55 67.21 11.30 11.00 33.98 295.50 293.25 69.16 96.10 94.15 69.90 9.60 9.40 54.60 3.25 3.15 61.08 8.65 8.55 47.69 1.45 1.40 58.37 26.35 26.00 61.88 1.55 1.45 63.99 2.70 2.55 66.81 44.20 43.35 65.51 74.35 73.45 51.71 175.95 174.90 59.05 14.05 13.90 53.26 4.90 4.85 66.33 30.15 29.95 57.16 107.70 107.15 56.18 99.95 98.20 53.26 33.80 33.55 63.14 126.15 124.95 57.42 231.75 230.85 49.96 2.50 2.40 58.20 1.40 1.10 61.66 2.55 2.45 44.21 9.70 9.45 49.29 40.10 39.70 52.20 2.05 2.00 56.19 71.80 71.05 64.93 201.60 200.00 47.60 2.85 2.75 62.49 66.50 65.95 84.79 22.55 22.25 46.99 18.10 17.90 52.54 2.80 2.70 51.82 1.40 1.35 69.11 52.20 51.50 69.93 151.80 150.80 58.86 3.05 2.90 52.95 1.60 1.45 54.90 2.15 2.05 50.53 7.95 7.85 55.11 239.95 237.55 60.14 189.30 187.95 45.85 72.75 71.70 48.96 265.30 263.65 52.36 18.90 18.60 24.52 183.10 182.55 47.63 30.15 29.55 85.16 12.60 12.15 38.43 23.80 23.40 52.20 2.30 2.25 51.37 4.00 3.85 79.63 55.70 53.95 51.50 2.60 2.55

1st 2nd Resistance 3.30 3.45 55.95 56.55 64.25 64.90 28.00 29.00 24.90 26.00 74.40 76.85 16.70 17.05 12.10 12.65 301.55 305.35 101.40 104.75 10.05 10.25 3.50 3.65 9.05 9.35 1.60 1.70 27.35 28.05 1.75 1.85 3.10 3.40 46.25 47.40 76.85 78.40 178.70 180.35 14.55 14.85 5.10 5.25 30.65 31.00 109.05 109.90 104.25 106.75 34.35 34.75 129.40 131.45 233.75 234.85 2.80 2.95 2.10 2.55 2.70 2.80 10.45 10.95 41.05 41.65 2.25 2.35 73.60 74.65 205.60 208.00 3.05 3.15 68.05 69.00 23.05 23.25 18.65 18.95 2.95 3.05 1.60 1.70 53.95 54.95 153.60 154.35 3.35 3.50 2.00 2.20 2.30 2.40 8.20 8.35 245.85 249.35 192.30 193.95 75.95 78.10 269.80 272.65 19.60 20.00 184.60 185.55 31.40 32.15 13.30 13.55 24.60 25.00 2.45 2.55 4.30 4.50 58.50 59.60 2.80 2.95

Pivot 3.20 55.40 63.25 27.45 24.30 72.75 16.30 11.80 299.30 99.45 9.85 3.40 8.95 1.55 27.00 1.65 3.00 45.40 75.90 177.60 14.40 5.05 30.45 108.50 102.50 34.15 128.20 232.85 2.70 1.80 2.60 10.20 40.70 2.20 72.85 204.00 2.95 67.50 22.75 18.45 2.90 1.50 53.25 152.60 3.20 1.85 2.20 8.10 243.45 190.95 74.90 268.15 19.30 184.05 30.85 12.85 24.20 2.40 4.20 56.75 2.75


8

Wednesday, October 27, 2010

PTTI Khairpur inaugurated

CM Qaim stresses on tech training

PU BEd exams start from Nov 2 LAHORE: Punjab University Bachelor of Education (BEd), 2nd Annual Examination 2009 and 1st Annual Examination 2010 will start from November 2. According to the date sheet issued, the written exam of BEd will commence from November 2 and conclude on December 7, while practical exam in science subjects will be held from December 13 to 20, 2010. These examinations were earlier scheduled to be held from September 16 but postponed keeping in view the difficulties of candidates including major problem of verification of Certificate in Teaching (CT) from the concerned Board, university and institution. All candidates will receive their examination schedule (date sheet) within three days of issuance of their roll number slips. In addition, no change of any kind has been made in roll numbers which have been issued to candidates and the exam centres about which they already have been informed. Therefore the candidates are directed to appear for exam on the said date and time at the examination centre along with their original roll number slips issued by the varsity. Moreover, in any case of any inquiry, they may contact PU Examinations Department or at phone numbers 042-99230260 and 042-99231532.-APP

SUKKUR: Sindh Chief ble for getting jobs in different Minister Syed Qaim Ali Shah industries of the country. has said that Allah Almighty has The chief minister said that gifted Sindh with abundant natu- keeping the importance of techral resources which are not being nical education in view, the properly explored due to lack of Sindh government in collaborascientific and technical educa- tion with Federal Ministry of tional skills. Petroleum & Natural Resources He said this while inaugurat- would establish ten similar ing Petroleum Technical petroleum institutes. Training Institute (PTTI) at Earlier Sindh Chief Minister Khairpur. He said that people of Syed Qaim Ali Shah along with KARACHI: Khurshid Ahmed Shah, Federal Minister for Manpower & Labour giving away certificate to trainee officers of Old the province have great capabili- Sindh Minister for Technical Age Benefits Institution(EOBI) at Hamdard University. Prof Dr Nasim A Khan, Vice Chancellor HU and ties and they after technical Education & Chairman STEVZafer Ahmed Gondal, Chairman EOBI are also present on this occasion.-Staff Photo training from such institutes will TA Abdul Salam Thaheem inauexplore and exploit the natural gurated Petroleum Technical resources for the socio-econom- Training Institute, completed at ic uplift of the province. a cost of Rs88 million, which The chief minister urged the includes hostel, computer & youth to pursue technical educa- instrumental laboratories. tion as potential field related to The chief minister also inauguoil & gas industries. rated the internal road of He said that technically edu- Government College of cated people are in great demand Technology Khairpur costing TFD Report MIRPUR: The 35th syndicate chancellor of the university, He said due to budgetary cuts presently therefore, STEVTA Rs15 million. Sindh Minister for meeting of the state-run chaired the meeting held at the university was confronted (Sindh Technical Education & Technical Education Abdul Salam University of Azad Jammu & Muzaffarbad. with serious financial problems, KARACHI: Teachers have Vocational Training Authority) Thaheem and Managing Director Kashmir has approved various Addressing the meeting the adding, budget has been been pivotal in helping in the re- has been established to make our STEVTA Abdul Wahid Uqaili recommendations of Finance AJK president said it was a mat- reduced drastically and funds building of communities hit by youth technically able and capa- also spoke on the occasion.-APP and Planning Committee, ter of satisfaction that the uni- needed for the development natural calamities such as the Selection Boards, and Academic versity has made significant projects were not being provid- floods in Pakistan, the earthquake in Haiti or by economic Council, it was officially progress in imparting quality ed to the university. declared. education in the region. Speaking on the occasion the instability like the global recesThe Vice Chancellor (VC) "The university administra- VC Quaid-e-Azam International sion, said experts on the first Quaid-e-Azam University tion should carefully look at its University, Islamabad, said day of a conference on educaIslamabad, Prof Dr Masoom fee structure. Due to financial smooth running of the universi- tion at Aga Khan University. Yasin Zai, Ex-ambassador Arif crunch, it is a challenging phase ty at this stage was no less than This three-day international Kamal, Prof Dr Asif Ali of for the university as it has to pay a Jihad as budget cuts had ham- conference is the result of colUniversity of Agriculture increased salaries," he added. pered every thing. laboration between Aga Khan ISLAMABAD: Professor Dr work at the Conference, which pollutant (POPs) Faisalabad, Prof Dr AR Saleemi "We have to combat chalThe syndicate approved rec- University Institute for Hasan Mahmood Khan, was attended by senior profeslindane (hexachloro cycloof UET Lahore, Prof Dr lenges of price hike and living ommendation of Rs831.607 mil- Education Development Muhammad Qayum Khan, reg- standard but pressure of fee on lion budget with a deficit of (AKU-IED), Department of Director, National Centre of sors and scientists of 61 coun- hexane) in water using advance istrar of the university, Prof Dr students is not bearable," he Rs35.167 million for the fiscal International Development, UK Excellence (NCE) in Physical tries from Europe, Asia and oxidation technologies. This Chemistry, University of USA including several noble research has been done as a Ghulam Ghous, Director said. year 2010-11, including Campaign for Quality Peshawar has been awarded prize winners in Chemistry who part of HEC funded research Finance and Planning, Prof Dr "Bids for the reconstruction of Rs689.092 million for recurring Education, Aga Khan Muhammad Rustam Khan, Rawalakot campus have been fund, Rs90.931 million for Foundation, Pakistan, and the best Oral Presentation Prize also presented their work, said a project. Earlier, the Centre was Controller of Examinations and opened and are in a process of development fund and Rs51.584 United Nation Children's Fund. and a shield at the 11th Eurasia press release. Conference on Chemical His research presentation placed at the top position all Deans of the faculties attend- evaluation. The deputy chair- million for self-support fund. Teachers need to "continually Sciences recently held in entitled "Radiation Induced amongst the 24 Centers in the ed the meeting. man has ensured the availability The house also considered learn and exercise reflective Jordon. Degradation of Lindane in country by HEC and the President AJK Raja of funds for the reconstruction creation, restructuring, and up practices that can help them Zulqarnain Khan, who is the of Rawalakot campus," he told. gradation of various posts.-APP Dr Khan along with Dr Jan- Water" was based on the Ministry of Education on become lifelong learners," said Nisar, another faculty member removal of commonly used excellent research and academDr Muhammad Memon, PSF, France’s LAMAP hold workshop of NCE, presented their research pesticide and persistent organic ic performance.-APP Director, AKU-IED. With rapidly changing scenario in education and the introduction of education reforms, it is not possible to follow the traditional teaching styles and old concepts in education. The conference will continue ISLAMABAD: International More than 30 master trainers schools of for the next two days. Workshop on Inquiry-Based including teachers from govern- Islamabad/Rawalpindi. Learning for science teachers ment, private sector schools and Creating science awareness at under French programme "La PSF officers will get training grassroots level is a statutory main a la pate-Hands on" from the French experts. function of PSF. It undertakes a (LAMAP) has started this week. The training workshop is number of activities with major LAMAP is a French pro- being conducted by two French focus on the students in grades gramme, which was started by experts. PSF has planned to 7-10. Organising S&T Fairs viz, the great Physicist and Nobel train first batch of 30 master S&T Expo 2007 "Shaping the Prize winner Georges Charpak trainers, who will use LAMAP Future" [March-April 2007, in 1996. The method of inquiry approach in their schools to Islamabad], and International based teaching is rapidly grow- teach their students. PSF will traveling Expos including KARACHI: The Board of ing and being used by more than also provide low cost material "Experiencing Mathematics" Intermediate and Secondary 45 countries all over the world. for "doing science" at pilot level. [April-May 2008, Islamabad, Education (BISE) Karachi Pakistan Science Foundation Printed material on inquiry- Lahore & Peshawar] and Expo announced the result of (PSF) in collaboration with based learning will be provided on Environment "The Earth's Higher Secondary Certificate French Embassy in Pakistan and for teachers/students of Future in Our Hands" [Oct-Dec (HSC) Part-II (Class-XII) Federal Directorate of Pakistan. This workshop will 2009, Islamabad, Sukkur and Annual Examinations-2010 HYDERABAD: DDO Revenue Barkat Rizvi giving away certificate to a Sindh University student group) here on Education is organizing the lead to a pilot programme of Multan are some milestones of (Arts after three-day workshop on Accountability & Good Governess for Strengthening Tuesday.-APP training. activity-based learning in 20 this series. -APP Democracy organised by Women Media Centre at a local hotel.-APP

Syndicate meet OKs various AJKU plans

Teachers’ role in rebuilding communities lauded loudly

Eurasia moot awards laurel to local scholar

Educators get ‘inquiry based learning’ lesson

BISE Khi declares HSC-II results

Life is Beyond Marks Mahgul Rizwan Khan

A

ll our life, we study and try hard to get the top position in the class. Toiling day and night to make it to the high scores and register ourselves in good books of our teachers. But have we ever thought that our whole life we just work hard and achieve good grade, or get good jobs but when we will die and ALLAH will question us about what we did in our lives, our good and bad deeds. Probably not that how much 1st positions did we got? Or how many degrees we pursued? But ignoring such an impor-

tant reality we as students do not take studies as our way of gaining knowledge but just a mere source of showing off our abilities. Why students always compete with each other? Our life never stops if we don't get best grades in exams or tests. For some time you'll be sad and will cry about it but in the end it's just going to be alright. You will get over with what happened. Each failure allows us to see our mistakes and gives us a chance to fix it! One must understand that life or this world never cease to exist if we do not secure high positions. Besides wasting our energies on keeping any eye on

how our peers are studying, I think it is better if we just concentrate on our own studies. Healthy competition is good but taking it as a matter of life and death, I guess rational people will not indulge themselves in such competitions. I am an average student and in my academic career so far, I never got any position but I am still trying to achieve good grades. I never regret about my position. And my life never stops and I always learn to move on further. I had learned that all this competition and good marks are good to keep my abilities under check. No marks are there to decide for

me that how much I am good or bad at anything. These can be the guideline but the ultimate judgment remains with me! Why do I believe like that? I heard a story about a teacher who was talking to his students and discussing examination paper pattern. The students kept asking what he will give in paper. And he kept saying all what you have studied. But students did not give up as they wanted to have good marks. What that teacher said was an inspiring answer. He said, "I think besides wasting your energy on guessing out what will come in the paper I guess you all should work on your studies,

and it does not matter what marks you get. Life is beyond marks. If you get good, fine, if not, even that is fine. Life does not stick up there. It is all in your hands to turn up the tables." This simple but touching advice inspired me and made me realize that he is right. My life will never stop whether I like it or not. I want all the friends to know, who are working day and night to get good positions, it is good to target great heights for you, but it is not the end of road for you. Your life is precious and if you don not take care of your self now then I am afraid you will suffer in future. I am not say-

ing that do not work hard, one must but take everything as a part of life. Actually we all should never stop working hard in our studies and should manage doing other things as well. I have seen people who just go in their rooms and just study. This kind of an attitude not only makes them tense, extra worried all the time but the fear of losing to just two or four marks often suppresses them badly. I know people who are really creative and talented but they just restrict themselves to academics in order to get good marks. What about co-curricular activities. What about all the fun? Remember,

all work and no play, makes Jack a dull boy. Well one should learn to keep a balance in all his/her activities. A big role is played by the parents, as they often pressurize their children to be the best. Their child's grades give respect to them among their relatives and by all this the one who suffer is the student. I don't know about physical stress but they sure get mental stress. I request parents not to put their children under stress and would also like to tell the fellow students to take life easy, study for your own self not for marks.


9

Wednesday, October 27, 2010

European vegetable oil prices

AHMEDABAD - INDIA: A worker gives a finish touch to a gold bangle at a shop in Ahmedabad. -Agencies

Coffee hits 13-yr high, sugar eases LONDON: ICE arabica coffee futures prices hit a 13-year high on Tuesday as dealers noted fund interest boosted prices, while raw sugar was steady, underpinned by tight supplies. ICE cocoa futures prices were lower as dealers eyed a large West African main crop. Dealers said coffee markets were supported by supply concerns in key producers Colombia and Vietnam. Robusta coffee prices remained near their two-year high of $1,910 a tonne, with January up $14 or 0.8 per cent, at $1,877 a tonne at 1522 GMT. However, talk that Colombia's crop has not recovered from two years of lowerthan-expected production is likely also to fuel gains in arabica coffee, dealers said. ICE December arabica futures were up 1.2 cent or 0.6 per cent at $2.0170 a lb, after setting a fresh 13-year high of $2.0460 a lb earlier in the session. ICE raw sugar futures eased under pressure from the firm dollar, consolidating near last week's nine-month high. The 2010/11 centre-south Brazil cane crush is expected to be 576 million tonnes, below previous forecasts of about 600 million, and will probably end early, senior analyst Julio Maria Borges said on Tuesday. Borges said the physical sugar market was tight, due to high sugar prices. A European broker said: "The problem is that end-destination refineries haven't had a chance to restock and are still running hand to mouth." ICE March raw sugar futures were down 0.22 cent or 0.8 per cent at 28.28 cents a lb, below the nine-month peak of 29.23 cents a lb touched on October 21. London December white sugar was down $5.30 or 0.7 per cent at $711.90 per tonne. Cocoa prices were steady, after recent gains, which pushed the market to a twomonth high on Monday. ICE December cocoa was unchanged at $2,930 per tonne. Liffe second-month March cocoa was down 18 pounds or 0.9 per cent at 1,975 pounds a tonne in low volume of 1,361 lots. -Reuters

BD tea weakens DHAKA: The average price of Bangladeshi teas fell marginally to 197 taka ($2.78) per kg at the weekly auction on Tuesday, brokers said. About 1.72 million kg were sold at the sale, leaving 4.37 per cent of the offer to be carried back. "Well made teas appreciated, but loose teas eased, resulting in a marginal fall of the average price," said an executive of the National Brokers Limited, the largest tea broking firm in the country. Different grades were sold between 170 taka and 231 taka per kg in the auction. -Reuters

Gold dips on dollar, US consumer data LONDON: Gold pared losses in Europe on Tuesday as a report showed US consumer confidence rose slightly in October, while the dollar was broadly firm. Although US consumer confidence rose, it remained near historically low levels as concerns about the labour market persisted, according to a private sector report released on Tuesday. Investors are awaiting

clues from US on the prospect of further monetary easing in the United States. The Federal Reserve will discuss at a meeting in Washington next week whether to extend its quantitative easing policy to accelerate growth. This could have significant implications for the dollar and inflation, and consequently gold. Spot gold was bid at $1,335.17 an ounce at 1542 GMT, against $1,338.00 late in New York on Monday. US gold futures for December delivery eased $3.70 an ounce to $1,335.20. Prices hit a record $1,387.10

an ounce earlier this month as the dollar slid amid expectations the Fed would vote in favour of QE at its upcoming policy meeting, but retreated as investors worried the prospect had become too heavily priced in. Gold's recent price dip has attracted some physical interest back to the market in key goldbuying centres like India, the world's biggest bullion consumer. Buyers there are stock-

ing up ahead of festivals, dealers said. Among other precious metals, palladium was at $613.38 an ounce against $606.20, not far from the nineyear high at $617.50 an ounce it hit on Monday. The ratio of platinum to palladium -- the number of ounces of palladium needed to buy an ounce of platinum -- fell to its lowest since mid-2004 in that session as palladium outpaced platinum's gains. Platinum was at $1,695.25 an ounce versus $1,692.05, and silver at $23.60 an ounce against $23.50. -Reuters TOKYO: Key Tokyo rubber futures rose to a two-year high on Tuesday, led by a surge in Shanghai rubber futures to a record peak, but later pared gains as the yen's strength prompted some profit-taking, traders said. The key Tokyo Commodity bullish from a fundamental Exchange rubber contract for perspective, analysts said. In a April delivery, which debuted on tightening market, copper Tuesday, settled at 340.3 yen per Shanghai copper dips kg, after rising as high as 343.3 Benchmark third-month yen, the highest for any benchShanghai copper dipped 90 mark contract since July 2008. yuan to 64,520 yuan, but the The most active Shanghai Chinese market's comparative- rubber futures for May delivery ly stronger performance closed on Tuesday at 32,660 helped narrow the discount to yuan ($4,906) per tonne, down LME to 1,600 yuan, down 0.9 per cent from the previous day's close of 32,955 yuan. The from 2,100 yuan last week. May contract hit a record high stocks last fell 900 tonnes to of 33,200 yuan earlier in the 367,475 tonnes. day. Trading volume more than Chinese demand rose last doubled from Monday at month, while JPMorgan's plans 877,530 lots. for a 60,000 tonne copperIndian rubber prices are backed exchange-traded prodexpected to snap a five-week uct also bolstered prices. gaining streak this week as supAlso supporting copper, the plies are likely to improve after union at Chile's giant the weather turned favourable Collahuasi mine, the world's No. 3 copper deposit, said it for tapping, though a firm globwas calling on miners to vote al market is seen limiting the for a strike after saying the lat- downside. -Reuters

Tokyo rubber hits 2-yr high

Copper eases from 27-mth top, eyes Fed LONDON: Copper prices flagged on Tuesday as the dollar rose, retreating from a 27month peak hit earlier and tracking choppy currency trading ahead of a key Federal Reserve meeting next week. Three-month copper on the London Metal Exchange closed at $8,511 a tonne from $8,518 a tonne at the close on Monday. Earlier dollar weakness drove copper to $8,554 a tonne, its highest since July 2008. "Metals have had a good run up in anticipation of these easing measures and also because of the weaker dollar. But many of them are quite overbought," said analyst Ed Meir of MF Global. "It's getting to the point where the markets will look for a headline to sell off," Meir said, adding that triggers may come from the Federal Reserve meeting early next month. "In the meantime they are staying relatively steady." US consumer confidence rose slightly in October but remained near historically low levels as concerns about the labour market persisted. Also, the Federal Reserve Bank of Richmond's monthly composite manufacturing index rose to 5 in October from minus 2 in September. Copper, in particular, looked

est wage offer failed to meet expectations. Zinc closed at $2,615 a tonne from Monday's close of $2,565 a tonne and earlier hit $2,638.75 a tonne, its highest since January. Lead was at $2,594 a tonne from $2,585. Tin closed at $26,700 a tonne from $26,900 and nickel closed at $23,300 a tonne from $23,600. Aluminium closed at $2,390 a tonne from $2,372. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for October 25 2010 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1240

1190

October (3rd Wednesday)

1270

1190

November (3rd Wednesday)

1270

1190

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for October 25 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

2230 2240 2210 2220 2175 2185 2175 2185

ROTTERDAM: The following were the Tuesday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Dec10/Jan11 865.00+5.00, Feb11/Apr11 864.00+3.00. RAPEOIL: Dutch/EU euro tonne fob exmill Nov10/Jan11 855.00-5.00, Feb11/Apr11 850.00+2.00, May11/Jul11 855.00+0.00, Aug11/Oct11 835.00+0.00. SUNOIL: EU dlrs tonne extank six ports option Jan11/Mar11 1330.00+5.00, Apr11/Jun11 1310.00+0.00, Jul11/Sep11 1330.00+5.00. LINOIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1305.00-10.00. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Nov10 1035.00-7.50, Dec10 1032.507.50, Jan11/Mar11 1027.5012.50, Apr11/Jun11 1030.0012.50. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1062.50, Jan11/Mar11 1057.50. PALMOIL: RBD dlrs tonne fob Malaysia Dec10 1017.505.00, Jan11/Mar11 1012.507.50. PALM OLEIN: RBD dlrs tonne fob Malaysia Dec10 1027.50-5.00, Jan11/Mar11 1022.50-7.50, Apr11/Jun11 1025.00-7.50. PALM STEARIN: Dlrs tonne fob Malaysia Nov10 1005.005.00, Dec10 1005.00-5.00. PALM FATTY ACID DISTILLATE: Dlrs tonne fob Malaysia Nov10 895.00-5.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1445.00-5.00, Nov10/Dec10 1445.00-5.00, Dec10/Jan11 1445.00-5.00. PALMKERNEL OIL: Mal/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1465.00-10.00, Nov10/Dec10 1465.00-10.00, Dec10/Jan11 1465.00-5.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1925.00+0.00. Reuters

2361 2362 2391.5 2392.5 2433 2438 2492 2497

8500 2555 8501 2560 8501 2584.5 8502 2585 8345 2555 8355 2560 7980 2525 7990 2530

23750 23755 23775 23800 23300 23400 22225 22325

TIN

ZINC NASAAC

26790 2552 26795 2552.5 26755 2582 26760 2583 26235 2605 26285 2610 2560 2565

2252 2253 2280 2290 2335 2345 2385 2395

Oil up slightly after US consumer confidence rise Consumer confidence up in October-Conference Board NEW YORK: Oil rose slightly, hovering above $82 a barrel on Tuesday, getting a boost from growing US consumer confidence, which can help drive fuel demand, partly offset by a firming dollar that may cut demand abroad. After swings between negative and positive territory, US crude for December was up 20 cents at $82.72 a barrel by 1602 GMT, extending gains from two previous sessions. ICE Brent rose 13 cents to $83.67. US consumer confidence rose more in October than analysts polled by Reuters had expected, although it remained near historic lows, the Conference Board reported. A sharply firmer dollar, which strengthened 0.7 per cent against a basket of foreign currencies on Tuesday, could crimp demand for dollar-priced oil abroad.

"The consumer confidence data was okay, not bearish, and prevented crude from sliding," said Andy Lebow, broker at MF Global in New York. "But we're trapped in range here as the market awaits Fed meeting next week and what it will bring." Oil has mostly been trading in the $75 to $85 a barrel

range since May. Analysts polled by Reuters expect weekly US stocks data to show petroleum inventories rose in the top consumer last week, by an average 1.4 million barrels, on more crude imports. Gasoline stocks are forecast to have risen by 500,000 barrels. "The US oil data will be a

Malaysian palm oil retreats as dlr firms KUALA LUMPUR: Malaysian palm oil futures eased on Tuesday on profit taking due to a firmer dollar, but losses were limited by strong Chinese demand for soybeans for crushing into vegetable oils. The benchmark January 2011 crude palm oil contract ended 0.6 per cent lower at 3,053 ringgit ($987.4). The previous day, the contract rose to its highest since July 28, 2008. Traded volume stood at 14,988 lots of 25 tonnes each. Palm oil losses were capped thanks to a little changed US soybeans complex, as strong purchases by China continue to underpin prices. "Currently we're getting all support from the US soy complex," said a trader in

Kuala Lumpur. "The market needs factors like very strong export figures and fear of lower stocks to reach 3,100 ringgit." Malaysian palm oil could rise to 3,194 ringgit per tonne based on its wave pattern and a Fibonacci projection analysis, according to Reuters technical analyst Wang Tao. US soyoil for December delivery fell 0.4 per cent in Asian trade and the most active September soyoil contract on China's Dalian exchange inched down. "China's soyoil price has been hovering at the upside, so it was undergoing a correction after being overbought yesterday," said Zhan Zhi Hong, an oil analyst with Shenzhen-based China Merchant Futures. -Reuters

reminder that the oil market is well supplied and that prices over $80 per barrel are not driven by fundamentals," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt. US oil stocks data will be released late Tuesday by industry group the American Petroleum Institute (API) while official weekly data from the US E n e r g y Information Administration is due on We d n e s d a y morning. Analysts forecast a more bullish draw in US distillate stocks, which have been well above fiveyear averages this year. They likely fell by 1.9 million barrels in the week to Oct. 22, a Reuters poll showed. US refiners probably shipped more fuel to Europe amid ongoing worker strikes in France against pension reform. -Reuters

Indian sugar falls for 2nd day MUMBAI: India's spot sugar eased for the second straight day on Tuesday due to weak demand, though an expected rise in demand during the festival season restricted the downside, dealers said. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety edged 0.5 per cent lower to 2,579 rupees ($58) per 100 kg. "Diwali is just two weeks away, but still demand is not improving as per expectations. Still stockists are cautious," said a dealer based in Kolhapur, Maharashtra. Demand for sugar usually goes up ahead of Diwali, the Hindu festival of lights, which falls in the first week of November. Fresh showers in India's key sugar producing states of Maharashtra and Karnataka are likely to delay cane crushing, industry and government officials told Reuters. -Reuters

US cotton limits up to hit all-time high NEW YORK: US cotton futures settled up the daily limit at an all-time high on Monday amid investment and speculative buying, even as some players looked for early signs that the three-month rally may be topping out. The surge was ignited by another overnight rally in Chinese cotton prices and a fall in the US dollar to a 15-year low. The possibility of damage from storms in the major growing state of Texas bolstered the bullish mood, analysts said. ICE Futures US key December cotton contract gained for the fourth straight session, rising the 5-cent limit to end at a new alltime record of $1.2471 per lb. It

was the second straight session barrage of crop downgrades that US cotton prices finished around the world," said Luke limit up and marked cotton's Matthews, a commodity stratebiggest four-day rally since gist at the Commonwealth October 2003. The amount of Bank of Australia. business though was slow. US cotton early-trade Total volume traded ICE Futures US key December cotton reached around 17,000 contract gained 3.01 cents to trade at lots, about one-quarter $1.2772 per lb at 1347 GMT, having set below the 30-day average a new all-time record of $1.2945. of 23,000 lots, Thomson Lawson said there seem to Reuters preliminary data be signs that the price of cotshowed. The Zhengzhou Commodity ton was starting to run ahead Exchange's benchmark fourth- of cash bids and "encroachmonth Chinese contract was ing on the profit margins" of last traded at a lifetime top of end-users booking orders of 26,270 yuan per tonne, up 5 the fibre, which meant the process of forming a top per cent from Friday. "The cotton complex has could be underway in the cotbeen supported by a continued ton market. -Reuters

National Commodity Exchange Ltd Trading Summary Date

26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-Oct-2010 26-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 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 DE10 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 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

82.70 83.52 83.84 23.77 23.80 1347.00 1347.00 1346.90 1345.30 1342.30 1346.60 37038.00 37065.00 37294.00 37239.00 36854.00 43446.00 43435.00 38342.00 38290.00 38303.00 36250.00 38329.00 44053.00 43994.00 43747.00 2402.00 3324.00 4533.00 86.74 86.23

83.21 83.90 83.84 23.77 23.80 1347.00 1347.00 1348.00 1345.30 1345.70 1346.60 37267.00 37276.00 37294.00 37239.00 37248.00 43446.00 43435.00 38342.00 38290.00 38303.00 38316.00 38329.00 44053.00 43994.00 44009.00 2402.00 3324.00 4533.00 86.74 86.23

81.50 82.35 83.52 23.34 23.20 1329.00 1329.00 1330.00 1333.70 1331.60 1334.00 36900.00 37065.00 36902.00 36848.00 36854.00 42979.00 42979.00 37933.00 37972.00 37894.00 36250.00 37920.00 43578.00 43623.00 43533.00 3302.00 3323.00 4491.00 86.73 85.80

82.31 82.98 83.52 23.34 23.34 1333.70 1334.00 1334.90 1333.70 1334.00 1334.00 36876.00 36885.00 36902.00 36848.00 36848.00 42979.00 42979.00 37933.00 37972.00 37894.00 37907.00 37920.00 43578.00 43623.00 43533.00 3302.00 3323.00 4491.00 86.73 85.80

Traded Volume in lots 208 47 123 321 1,106 789 20 4 2 1 1 2 -

Previous Settlement Price 82.14 82.14 82.82 23.61 23.61 1339.20 1339.60 1340.50 1339.20 1339.60 1340.50 37081.00 37090.00 37108.00 37054.00 37063.00 43219.00 43219.00 38141.00 38180.00 38103.00 38116.00 38129.00 43820.00 43864.00 43775.00 3303.00 3324.00 4533.00 86.74 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 82.31 38 82.98 10 83.52 23.34 23.34 66 1333.70 529 1334.00 680 1334.90 1,109 1333.70 1334.00 6 1334.90 36876.00 49 36885.00 9 36902.00 36848.00 1 36857.00 42979.00 42979.00 37933.00 37972.00 37894.00 37907.00 1 37920.00 43578.00 43623.00 43533.00 2 3302.00 3323.00 4491.00 86.73 85.80 -


Residents try to save a standed humpback whale on Geriba beach in Buzios

10

Wednesday, October 27, 2010

ICC not to investigate Sydney Test: Lorgat MELBOURNE: The International Cricket Council (ICC) will not re-investigate the Sydney Test between Australia and Pakistan despite being confronted with reports that it knew of suspected match fixer Mazhar Majeed's ''activities'' during the game. ICC chief executive Haroon Lorgat said the governing body did not have "sufficient evidence" to warn the Australian authorities about Majeed's activities during the January series. Australia won the Sydney Test after Pakistan suffered a dramatic collapse and committed several fielding errors. In a sting operation conducted by a British tabloid a some weeks ago, Majeed was shown boasting that the match had been fixed. But Lorgat insisted that the ICC will not launch a re-investigation unless "credible evidence comes forward." "We've kept it open, we concluded in the end it was a dysfunctional team," he told 'ABC' channel. Asked whether the ICC should have issued an advisory when it came to know of Majeed's presence in Sydney, Lorgat said, "These are leads that we have to follow through and be quite confident before we make allegations and it was the subject of an ongoing investigation and we weren't in a position to make any allegations." "We were not satisfied of the extent of his activities and we needed to be quite confident before we leveled any accusations," he said.-Online

UEFA probes Euro 2012 allegations MILAN: UEFA has asked a Cypriot official to provide proof of corruption related to the decision to award Poland and Ukraine the Euro 2012 championship, European soccer's governing body said Monday. Germany's respected Suddeutsche Zeitung reported that Spyros Marangos had said he had evidence that certain UEFA representatives were corrupted in the bidding process in 2007, when Italy and a joint Croatia and Hungary bid missed out. "In relation to this as yet unsubstantiated claim UEFA wishes to state that, as always, it can only open an investigation on the basis of tangible elements of proof," a UEFA statement read. "To date these have never been provided to UEFA by this individual prior to any meeting and this in spite of repeated requests by Europe's governing football body. "UEFA has therefore today, via its legal counsel, again requested the said individual to submit to UEFA any evidence that according to him should confirm his allegations, by Wednesday 27 October at the latest." Bid processes for soccer tournaments have recently come under scrutiny with world governing body FIFA provisionally suspending two members of its executive committee on suspicion of selling their votes to host the 2018 and 2022 World Cups. UEFA added that in its case legal action would be considered against the individual if evidence was not forthcoming. Marangos, who could not be reached for immediate comment, was not named in UEFA's statement.-Reuters

Pak manages 119 runs; Tsotsobe takes 4 wkts

The old trend followed in UAE Tauseef Mallick KARACHI: There was the all old predictable monotony about the Pakistan innings. The openers didn't last long, middle order collapsed, batsmen looked in a hurry, icons failed to satisfy, this is how you may define Pakistan's innings against Proteas in their first t20 match. Pakistan managed to score 119 runs losing all their wickets. Umar Akmal flattered to deceive, Shahid Afridi unfurled a couple of violent hits to threaten a revival, Misbah-ul-Haq batted slowly and the lower order collapsed. Barring couple of poor overs from the Morkel brothers at the start - Albie struggled with wides and Morne struggled with no balls - South Africa did nearly everything right. They kept it tight on a line and length and waited for Pakistan to implode. The openers set the tone for the innings: Imran Farhat fell to an ugly slog, edging to slip, and Shahzaib Hasan fell to a

good tumbling catch from JP Duminy running back from point after scooping an intended big hit. Johan Botha came on after the Powerplays to strangle Pakistan with a triple-strike. Two of them came easily: Mohammad Hafeez carved

Dhoni slams allegations against Raina KARACHI: Indian cricket captain Mahendra Singh Dhoni on Tuesday once again rubbished news reports of Suresh Raina being linked with an associate of a bookie and termed it as "baseless and false," and termed it as a conspiracy against BCCI. "The reports that Raina was spotted with a woman, having links with bookie and that he might be linked with match fixing, are baseless and false," said the Indian skipper, who had earlier also denied the charges. "Raina is a good player and he can never indulge in such activities. Sri Lankan Cricket Board, BCCI, ICC and ICC Corruption Committee have investigated the matter and could not found any proof against Raina," Dhoni, told reporters. It was reported that Raina was seen with a lady, who is a

sixes over long-on but fell trying yet another big hit. With Misbah struggling to find his timing, Pakistan were struggling to reach 100 but Albie and Rusty Theron slipped in a few full tosses that Misbah took toll of to push Pakistan to 119.

South Africa's Duminy takes a catch to dismiss Pakistan's Hasan during their first Twenty20 international cricket match in Abu Dhabi

It's conspiracy against BCCI

Monitoring Desk

one straight to deep point and Abdul Razzaq, who struggled in his brief stay, played down the wrong line and lost his off stump. Afridi counterattacked in his inimitable style with a breezy 25 from just seven balls. He muscled Botha for three

close associate of a known bookmaker, at a Sri Lankan hotel and the footages were recorded on the CCTV of the hotel. Dhoni also said the allegations that the BCCI deliberately turned deaf ears in Raina's case, had nothing to do with reality. Meanwhile, the captain, who led India to both Test as well as one-day series victories against Australia recently, termed his team as a balanced side but admitted that the bowling needs to improve. "There are good batsmen in the team, who have a lot of energy and enthusiasm. New players are also coming into the team and are continuously improving their game," he said. "However, some improvement is needed in the bowling department as it is always an area of concern for us," Dhoni added.

Cash reward for CWG boxing medallists LAHORE: Pakistan Sports Board (PSB) has announced cash rewards for those two boxers who won bronze medals in recently concluded Commonwealth Games in New Delhi India. Director General of PSB Syed Amir Hamza Gilani on Tuesday informed the Pakistan Boxing Federation (PBF) that bronze medal winners Muhammad Waseem and Haroon Iqbal Khan each will receive a cash prize of Rs200,000. Six Pakistani boxers participated in Commonwealth Games and three of them moved to the quarter finals and two made their way to the semi finals and secured bronze medals. Meanwhile President, PBF, Doda Khan Bhutto has welcomed PSB announcement and said such support will go a long way in the further development of boxing. "We are confident that our boxers will put up good performance in next months Asian Games in China", he said.-APP

Indian firm to buy EPL club Venkys set to take over Blackburn Rovers LONDON: Blackburn Rovers hope the sale of the club to Indian conglomerate Venkys will be completed in November, the Premier League club said in a statement on Tuesday. "A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process. Both parties are hopeful that the transaction will be completed in November," Rovers' chairman John Williams said in a statement on the club's website. Venkys' chief Anuradha J Desai added; "We expect to be the first Indian company to acquire a Premier League team and we are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions." The V.H Group, of which Venkateshwara Hatcheries P Ltd is the flagship company, specialises in poultry farming and claims to be the "largest fully integrated poultry group in Asia". Its diversified businesses interests include food processing, animal healthcare and pharmaceuticals. Its website said its valuation was $300 million, while Indian media reported the company

are likely to pay 40 million pounds ($63.51 million) for Rovers if the deal materialises. When contacted by Reuters on Tuesday, a company spokesman said they would be releasing a statement later in the day." Blackburn, managed by Sam Allardyce, are fourth from bottom in the league -- one place above the relegation zone -with nine points from as many games. Last week Allardyce had backed new investment for the the 1995 Premier League champions, who were put up for sale by the Jack Walker Trust three years ago. "The club has been up for sale for some time and new investment would be most welcome," Allardyce said on Friday. "It would seem that things are progressing and maybe we are getting closer to a decision." In September, investment company Western Gulf Advisory (WGA) said that they were conducting due diligence on Rovers. A WGA spokesperson told Reuters in an email on Tuesday they were still interested in purchasing the club but "did not wish to comment on the current developments".Reuters

Still willing to play for England

Beckham to stay at Galaxy LONDON: David Beckham plans to see out the final year of his Los Angeles Galaxy contract and still believes he has an England future at the age of 35. In a interview shown on television, the midfielder added that he would not have any more loan deals after two spells at AC Milan, where an ankle injury in the second stint forced him out of the reckoning for a place at the World Cup in June. Beckham's Galaxy contract runs out next year and although there is the option next month of buying out the final 12 months of his deal, he said he was content to stay until 2011. "I'm definitely going to be here (in Los Angeles) for the rest of my contract," the former Manchester United player said. "My sons go to school here, we're all happy

living here, so I can't see us moving." Turning to his England prospects, he underlined that

he had no plans to call time on his 115-cap international career despite manager Fabio Capello suggesting after the World Cup that he was too old to play for his country. "Of course I would always love to be available for my

country. Everyone knows how passionate I have been for my country over the years so I would love to continue to play. "Whether I do or not, that is obviously down to the manager and obviously down to myself to perform. "The future is for the young players as we have to think about the (2012) Euros but no one player is out." Beckham, who left Real Madrid for Galaxy in 2007, scored for the LA club in the 2-1 win over FC Dallas on Sunday that earned them their second successive Western Conference and the Supporters' Shield for MLS's top point-scoring team. They now begin their playoff campaign against Seattle Sounders on Sunday.Reuters

Predictions no more

Oracle octopus dies in Germany BERLIN: Paul, the oracle octopus who shot to fame in the World Cup this summer for his uncanny ability to predict the results of Germany's football matches, has died at his home in Oberhausen at the age of two. English-born Paul made headlines across the globe after he correctly forecast how Germany would fare in seven matches, before his psychic powers were tested again for the final. After Germany's semi-final defeat, Paul tipped Spain to beat the Netherlands in the final, which prompted one news agency to report he had spurred a jump in demand for Spanish

government bonds. Paul's prediction duly came to pass: Spain won. Staff at the Oberhausen Sea Life Centre in western Germany said in a statement they were "devastated" to learn of Paul's death when they returned to work on Tuesday. "He appears to have passed away peacefully during the night, of natural causes, and we are consoled by the knowledge that he enjoyed a good life," said the centre's manager Stefan Porwoll. Before matches, two containers of food were placed in the eight-legged creature's tank, each one bearing the flag of one of the teams about to compete

Paul the so-called "octopus oracle" predicts Spain's victory in their World Cup semi-final against Germany at the Sea Life Aquarium in Oberhausen

for their chance to become world champions. The container Paul picked first was seen as his pick. Following the World Cup, a Spanish zoo made a transfer bid for Paul but his German keepers refused to sell. Paul will be kept in cold storage until the centre decides how to mark the mollusc's extraordinary life, Porwoll added. "We may decide to give Paul his own small burial plot within our grounds and erect a modest permanent shrine," he said. Paul, who was hatched in Weymouth, England, may yet continue to dazzle the world with predictions from beyond the grave.

A Russian newspaper said in July it had got Paul to predict who would be Russia's next president -- but that the results would be kept secret until the election year of 2012. Sea Life said Paul would live on as the object of a host of commercial enterprises ranging from special clothing lines to mobile phone applications inspired by his fame in Oberhausen, one of Germany's most cash-strapped cities. Meanwhile, donations made in honour of Paul's achievements would help to fund a planned permanent rescue centre for sea turtles on the Greek island of Zakynthos, Sea Life said.-Reuters


International & Continuation

Wednesday, October 27, 2010

Britain’s Q3 GDP beats forecasts but risks ahead LONDON, Oct 26 (Reuters) Britain's economy grew twice as fast as expected in the third quarter and ratings agency Standard and Poor's lifted the threat of a credit downgrade, a boost for a government under fire over steep spending cuts. But the risk of a sharp slowdown in the first half of 2011 remains, with strong headwinds likely to come from tax rises, a patchy recovery in Britain's main trading partners and cuts which may cost half a million jobs in the public sector. The Office for National Statistics said Britain's economy grew 0.8 per cent between July and September, down from a nine-year high of 1.2 per cent in the second quarter but twice the 0.4 per cent most economists had expected.

Sterling jumped and gilts hit a one-month low as investors reckoned the combination of above-trend growth and abovetarget inflation meant the Bank of England would struggle to justify an expansion of its "quantitative easing" to support the economy. Speculation Britain's central bank might pump more money into the economy gathered pace this month after one policymaker, Adam Posen, broke ranks to vote for additional easing. However, Andrew Sentance, the committee's most hawkish member, lost no time in reiterating his belief that interest rates should now start to rise -- albeit gradually. Economists said the data was likely to make the BoE keep policy unchanged for longer.

"For the Bank of England, the GDP strength probably minimises for the time being the risk of others joining Adam Posen in voting for another round of QE," said George Buckley at Deutsche Bank. GOVERNMENT PLEASED In annual terms, Britain's economy grew by 2.8 per cent in the third quarter, the fastest rate in three years and up from 1.7 per cent in the previous quarter. The BoE had forecast growth of around 2.4 per cent in August. Less than two hours after the data, ratings agency S&P raised the outlook on Britain's tripleA rating to "stable" from "negative", citing the government's commitment to see through its ambitious austerity programme.-Reuters

US consumer confidence, home prices remain weak NEW YORK: Data on Tuesday showed the US economic recovery is still fragile, with consumer confidence remaining weak and home prices falling again after gaining earlier in the year. The reports reinforced the belief that the US Federal Reserve will embark on another round of monetary policy stimulus to support the economic recovery next

week. US consumer confidence rose slightly in October but remained near historically low levels as concerns about the labor market persisted. The Conference Board, an industry group, said its index of consumer attitudes rose to 50.2 in October from a revised 48.6 in September. The US unemployment rate remains stubbornly high at 9.6 per cent, according to the

Labor Department. The Federal Reserve, which has already injected $1.7 trillion into the economy by purchasing mortgage-related and government bonds, next meets on Nov. 2-3. Another round of quantitative easing, dubbed 'QE2', is expected to focus on Treasury debt. The weak labor market is one of the primary reasons why the housing market remains weak.-Reuters

Air cargo growth slowdown suggests global econ cooling

The notice also revealed that bank's provisions against defaults fell to Rs9.75 million in the third quarter from Rs1.13 billion a year ago. Net income in the nine months ended Sept. 30 rose to Rs12.5 billion, or Rs16.44 a share, from Rs11.8 billion, or Rs15.53, a year earlier. Revenue rose to Rs44.8 billion from Rs42.2 billion previously.

ZURICH: International air cargo traffic grew at a slower annual pace in September, in a fresh sign that the global economy is cooling, the International Air Transport Association (IATA) said on Tuesday. The trend in freight traffic -- a good indicator for global trade and economic activity -- was weaker than expected and volumes were now 6 per cent below the post-crisis peak hit in May, IATA said.-Reuters

top-line growth as an indicator of economic activity. US Steel Corp, AK Steel Holdings Corp and ArcelorMittal, the world's No. 1 steelmaker all sold off after reporting results. Both US Steel and ArcelorMittal also forecast a soft patch extending to the end of the year. On the upside, Ford Motor Co rose 1.6 per cent to $14.37 and touched a six-month high after quarterly profit topped estimates and it paid down a big chunk of debt. Broadly, equities continued to take their cue from the US dollar, which steadied with the dollar index up 0.6 per cent. Stocks and the greenback have formed an inverse relationship, exacerbated by expectations the US Federal Reserve will embark on another round of economic stimulus.-Reuters

CFTC unveils new tools to stop market manipulation WASHINGTON: The US futures regulator laid out plans on Tuesday for how it could use new and beefed-up legal tools to foil traders who seek to manipulate prices or defraud investors. The Commodity Futures Trading Commission said it also wants to ask for comments on whether to crack down on certain practices used by high-frequency traders -- such as "quote-stuffing" -- but it stopped short of immediately proposing new rules specifically aimed at algorithmic trading. In its latest set of proposed regulations following a sprawling Wall Street reform law, the CFTC sought to clear up some confusion about its traditional test for price manipulation, an effort to improve on its dismal record of having won only one such case in its 36-year history.-Reuters

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we cannot afford to drop our guard," he added. According to him, the security situation in the AfPak region continues to be a cause for concern. "Despite the physical and material costs India has at all times, advocated peace and stability with all nations including our neighbours," he said. "The volatile political situation in our immediate neighborhood has the potential of having a debilitating impact on the region. India's role in preserving peace and stability thus, becomes all the more important," he said. The MoD had introduced changes in the defence procurement procedure "to increase private participation", and he was "confident that the changes in our procurement procedures will help in realising the full potential of public private partnership and leverage the advantages in the fields of R & D and manufacturing". -Online

multilateral organisations participating in the initiative.

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11,000 villagers living on the volcano's slopes, after the alert status was raised to the highest level. Adi Mulyanto, an emergency ward doctor at the Panti Nugroho Hospital in Sleman, told Reuters that at least six people had been badly burned by hot air bursting out of the volcano. -Agencies

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Top lender State Bank of India shed 1.8 per cent, while rivals ICICI Bank and HDFC Bank dropped 0.9 per cent and 0.6 per cent respectively. Telecom stocks fell after Idea Cellular, the No. 6 mobile phone operator, lagged market estimates as quarterly profit fell on lower call prices, triggering concerns other players may follow suit. Idea shed nearly 3 per cent while leading telecom operators Bharti Airtel and Reliance Communications lost 2.4 per Continued from page 12 No #2 cent and 1.7 per cent respectively. Reliance Industries gained 0.6 during the crack down, which police started after the bomb blast at per cent after the Economic Times reported the company aimed to Baba Farid shrine. On the other hand Arifwala and Pakpattan police reach peak gas output of 80 million standard cubic metres per day arrested several suspicious persons during the crack down. -Online at its KG D6 block off the country's east coast in about 12 months. ITC climbed 1.3 per cent, riding on the robust domestic consumpContinued from page 12 No #3 tion story in Asia's third-largest economy. Maruti Suzuki rallied 3.6 According to diplomatic sources, US embassy officials briefed per cent in an attempt to catch up with the broader market rally. The the new US ambassador and apprised him of various projects to stock has been a laggard, rising only 0.2 per cent year-to-date, on be launched in Pakistan with the cooperation of US. worries about pressure on profit margins. Non-ferrous metals proEarlier talking to a private TV channel Munter said he is coming to Pakistan with open mind. Ambassador Cameron Munter ducer Sterlite Industries dropped 0.1 per cent after it reported a said the rehabilitation of flood victims, terrorism and the political slightly lower-than-expected 5 per cent rise in September quarter situation are big challenges faced by Pakistan. Cameron Munter is net profit. Amongst world's broader indexes, the MSCI world equithe first US Ambassador in 10 years who will arrive with his wife ty index dropped 0.2 per cent by 1016 GMT, MSCI's emerging marin Pakistan, who is a retired diplomat. On a question about anti- ket stock benchmark was barely changed. -Reuters Continued from page 5 American sentiments in Pakistan Ambassador Munter said, "We No #9 have to see the reasons behind these sentiments to bring the peoBank's profit after tax grew by 52 per cent to Rs995 million for ple of the two nations close to each other." He said he will play his the nine months period ended September 30, 2010 as compared to role to bring the people close to each other. He said he will listen Rs654 million in the corresponding period last year. to what the people of Pakistan talk so as to transfer the people's During the period under review its earnings per share (EPS) also sentiments in a better way to Washington. -Online increased to Rs1.42 Rs against Rs1.07 in the same period last year. Meezan Bank's total assets crossed Rs143 billion during the Continued from page 12 No #4 of last year. Profit before taxation for the quarter increased by period under review. This growth has been spurred by the increase 18.3 per cent to Rs24.13 billion mainly due to and favorable in the its branch network as a result of which deposits increased financial impact of Rs2.78 billion on account of gas price revision from Rs100 billion in December 2009 to Rs119 billion in in respect of Bobi field.Other income included interest on invest- September 2010, an increase of 19 per cent. ments and bank deposits and exchange gains which decreased by Continued from page 5 No #10 24 per cent to Rs 607 million as compared to last year same periDuring the period under-review Company's profit after tax ran up od of Rs 799 million. -Agencies to Rs2.03 billion as compared to Rs1.33 billion over the corresponding period last year. This translates into an earning per share of Continued from page 12 No #5 Rs2.31 as against Rs1.52 during the same period last year. The 24 hours and after that he is handed over to police and then the major reason for increase in earning was depreciation of Pak rupee matter is forwarded to foreign ministry. He said that he had said to BSF to hand over those Pakistanis as revenues were indexed to the USD. In addition to that, lower who accidentally crossed the border while the same issue would repair/ maintenance cost during the period also supported growth. be raised in recent dialogue. The 19-member delegation of BSF Sales revenue for the period being discussed dropped 20.3 per cent headed by Inspector General BSF Sri Raman reached in Lahore. to Rs16.2 billion from Rs20.32 billion previously --chiefly owing to Talking to media Inspector General BSF Sri Raman said "We lower load factor. Cost of sales also fell down by 27.3 per cent to come here with an open-mind and try to bring improvement in ties Rs12.89 billion. Company's 1QFY11 gross profit went up by 27.3 between both the countries." Meanwhile, five-day meeting per cent to Rs3.31 billion against Rs2.59 billion in 1QFY10. amongst border security forces has started in Lahore during which Moreover, other operating income saw a robust surge by 140 per issues related to border fencing and transfer of prisoners would cent at Rs1.93 billion in the period under review. Similarly, financial cost increased by 64.1 per cent to Rs2.01 billion. come under discussion. -Online

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facilitate greater investment flows for the Islamic financial services industry. The IILM will issue high quality Shariah-compliant financial instruments at both the national level and across borders, in an integrated manner, thereby enhancing the soundness and stability of the jurisdictions in which they operate. The signatories of the IILM Articles of Agreement are governors and their representatives from the central banks or monetary agencies of Indonesia , Iran , Luxembourg , Malaysia , Mauritius , Nigeria , Qatar , Saudi Arabia , Sudan , Turkey and the United Arab Emirates . The Islamic Development Bank and the Islamic Corporation for the Development of the Private Sector are the

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margins, operating result and profit after tax for the quarter were 31 per cent and 22 per cent higher respectively compared with the same period last year.

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Bank's net income rose to Rs4.55 billion -- earning per share of Rs5.99 a share from Rs4.05 billion a year earlier. According to details revenue of the bank climbed to Rs15.4 billion from Rs13.5 billion for the period under review. MCB Bank's interest income rose 12 per cent to Rs13.8 billion in the third quarter, while its interest expense rose 19 per cent during the three months.

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media reports speculating that the electronics maker could be a potential acquisition target of Apple Inc. The stock later lost steam and ended up 0.7 per cent at 2,742 yen. "Investors could start buying on dips if the Bank of Japan can come up with further measures to bolster the economy or if the market can be convinced that the yen's firmness will be limited around 80 (against the dollar)," said Ryosuke Okazaki, chief investment officer at ITC Investment Partners.The BOJ is scheduled to hold a policy meeting on Thursday following surprise credit easing measures earlier this month when it pledged to pump more liquidity to keep interest rates virtually at zero.-Reuters

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Banks were out of favour after UBS's results and as uncertainty on the global economic outlook kept optimism on more cyclical equities in check. Barclays and Royal Bank of Scotland both fell 1.4 per cent. "(The FTSE) is pretty weak... the UBS figures have caused a lot of pressure, which has permeated (the wider market)," Joe Rundle, head of trading at ETX Capital, said. Miners, which notched up good gains in the previous session, took the most points off the index. BHP Billiton, down 2.5 per cent, was the biggest laggard in the sector.Insurers fell, hurt by a note from BofA Merrill Lynch which downgraded the sector on valuation grounds after a strong run over the past few months. Prudential lost 1.7 per cent."The market has had a good run since late August and it appears to be on an upward, sawtooth trend. It seems this is one of those days where investors are booking profits after gains," Peter Dixon, economist at Commerzbank, said.-Reuters

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include Oil & gas Development Co, Nishat Mills, MCB Bank, ICI Pakistan, and Lotte Pakistan. Offshore investors however ended the day with a net-buying of $1.55 million. On the local side, banks and NBFCs did a net-selling of $1.38 million and $1.12 million, while individuals net-bought equities worth $1.52 million. Lotte Pakistan was the volume leader with 20.9 million shares followed by Azgard Nine with 15.8 million shares, Lafarge Pakistan with 9.1 million shares, Nishat Mills with 8.2 million shares and United Bank with 6.6 million shares. Out of total 403 active issues 242 declined and 148 advanced while 13 issues remained unchanged.

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"Nawaz League is our allied party. Hue and cry is being raised over Watan Card. I had given the first Watan card to Shahbaz Sharif", he held. Decision would be taken on construction of Kalabagh dam with the consensus of all the provinces, he maintained. Politics was played with the issue of Kalabagh dam and no real interest was shown, he added.

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of 12 meters of the channel at the moment, 75000 tones vessels cannot reach this new terminal. He directed dredging of the channel to 14 meters on a war-footing so that larger vessels can reach the berth at the terminal in coming months. Referring to the proposals by Minister for Ports and Shipping, Prime Minister said he has already given instructions to National Highways Authority to build Rattodero-Gwadar road. He also asked the Trade Development Authority of Pakistan to route dry agriculture cargo through new terminal. Prime Minister also told the audience that the Government was pursuing the politics of reconciliation to promote political stability, which was prerequisite for economic stability. Earlier, Prime Minister Gilani on his arrival at Chief Minister held meeting with Chief Minister Sindh Syed Qaim Ali Shah. He discussed issues pertaining to law & order in the province, post-flood measures adopted for rehabilitation and reconstruction of flood affected areas and people. Prime Minister stressed the need to have constant vigilance of activities of criminals and anti-social elements, while such elements be curbed with iron hand without any consideration or favoritism.

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not able to keep pace but we are trying to tap new potential areas to meet our needs." He said the Ministry is continuously working on finding new potential areas as even KhyberPakhtunkhwa is also producing the gas. Replying to a question, Naveed Qamar said every block which is awarded starts production after around seven years. Regarding gas load-shedding in winter, he said Economic Coordination Committee (ECC) would decide the mechanism and the number of days for load-shedding.-Agencies

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Business Community, they are upbeat to get the most of this initiative and are trying their best to create awareness through the biggest and powerful business index in the world. Pakistani businessmen are of the view that their purpose is not only to raise substantial funds by involving some major political and showbiz affluents like George Clooney, but also to portray the right picture of the flood-devastations, which was being distorted due to lack of trust and confidence in the PPP government. Pakistani traders expect that this event, which is about to take place on October 29, would be covered by nearly every major network here and which would expand the horizon and outreach of the campaign, because opening and closing bell events at Nasdaq are given live coverage by some major television networks here including CNBC, Bloomberg, BBC and other financial networks. They informed that Nasdaq is moved by their initiative and they also want to put their share in this humanitarian effort. The modus operandi of the program would include three one-minute speeches by Najeeb Ghauri of NetSol, Nancy Aossey, CEO/IMC, and Jay Collins, Chairman USPBC or Stephen Jordan Senior Executive of US Chamber of Commerce. This process would run like a movie-script and would mostly be structured by Nasdaq. Throughout the program there will be images and pictures of victims and details of IMC and USPBC logos and their appeals. Afterwards, press statements by NetSol, and Nasdaq internal public relations department would be released to its over four-thousand listed companies, US Chamber of Commerce, and other US government and business communities. It is relevant to recall here that few months back some Pakistani diplomats spoiled the opportunity given by NYSE so that Pakistani Consulate could extend their appeal for donations, but instead they resorted to self-projection. Some members of Pakistani consulate managed to run their own photos with Pakistani flags in the background, and one slide even mention that "Welcome to New York from Consulate General of Pakistan, R S A Babar Hashmi." Resultantly, they failed to collect any considerable amount of fund for the flood affectees.

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across-the-board corruption and during the fiscal year 2009-10 FDIs dropped to $2.21 billion from $3.71 billion in fiscal year 2008-09", TI Pakistan head said. Gilani further elaborated that in order to curb the corruption government needs to ensure the rule of law, merit-based appointments and easy access to justiceAccording to the report Denmark, New Zealand and Singapore maintained their top position on the list with scores of 9.3. They were followed by Finland, Sweden, Canada and the Netherlands while Afghanistan, Myanmar and Somalia came last with scores as low as 1.1.The US ranked 22nd on the list, down from 19th last year, with a score of 7.1 out of 10, compared with 7.5 in 2009, the Berlin-based corruption watchdog group showed in its Corruption Perceptions Index report.

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Qureshi would inform to cabinet about recent Pak-America Strategic dialogues. Cabinet will also give approval to different projects with foreign countries and five ministries transfer to provinces under the rule of 18th amendment.

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Hamoud, the executed dictator's secretary. All three were sentenced for their role in a crackdown on Shiites, which followed a 1982 assassination attempt against Saddam in Dujail, a mainly Shiite town north of Baghdad, the court's spokesman Mohammed Abdul Saheb said. "The order was for the crackdown on religious parties which took place in the 1980s," Abdul Saheb told foreign media. By law, the death sentences have to be confirmed by the presidential council before being carried out. Aziz's Jordan-based son Ziad told that the death sentence against his father proved the revelations made about the Iraqi State by the whistleblower website WikiLeaks. Of the three former top officials sentenced to death on Tuesday, the urbane Aziz was by far the most prominent figure. In 2009, he was jailed for 15 years for the 1992 execution of 42 Baghdad wholesalers and separately given a seven-year term for his role in expelling Kurds from Iraq's north. He pleaded not guilty on all counts. -Reuters

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expressed appreciation for Pakistan's accomplishments in numerous fields. President Obama invited President Zardari to visit the US President Zardari thanking President Obama for the invitation said he was also looking forward to the visit of President Obama in the early part of 2011 to Pakistan. President Zardari thanked President Obama for the strong expression of support for Pakistan, the democratic forces and progress and prosperity of the Pakistani people. -APP

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from previous 7.5 per cent to 3 per cent", said Furqan Punjani, analyst at Topline Securities. On this account gross margins also reduced by 12 per cent to Rs1.43 billion compared to Rs1.62 billion in same period last year.


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Talks with India to stay futile unless redressal of disputes

Pakistan wants core issues on table: FO

ISLAMABAD: Chief Minister Balochistan Nawab Muhammad Aslam Raisani called on President Asif Ali Zardari at Aiwan-e-Sadr here on Tuesday. -APP

CM Raisani calls on President Zardari

Full-scale support for B’stan vowed ISLAMABAD: President Asif Ali Zardari has said that government is not oblivious to the problems of Balochistan and we would do everything possible to bring this province to the par of other provinces. According to President Spokesman, Chief Minister Balochistan Nawab Muhammad Aslam Raisani Monday called on President Asif Ali Zardari at Aiwane-Sadr. Matters relating to law and order, political situation, developmental projects in the province and measures taken for rehabilitation and reconstruction of the flood affectees were discussed during the meeting. Mir Mohammad Asim Kurd Gello, Finance Minister Balochistan, was also present during the meeting. According to sources, President told Balochistan CM that government is committed to uplift of

Holbrooke, Zardari speak over phone ISLAMABAD: US Special Representative for Afghanistan and Pakistan Richard Holbrooke Tuesday telephoned President Asif Ali Zardari and discussed matters relating to the recently held Pak-US Strategic Dialogue. They also discussed struggle against militancy and extremism, regional security situation, reimbursements of Coalition Support Fund arrears and reconstruction. Balochistan and it would be brought in par to the other provinces. Sources told President said the importance of Balochistan and rights of Baloch people cannot be ignored by a democratic government. Chief Minister Balochistan conveyed his concerns over target killing incidents in Quetta and non-

Result close to TFD expectation

OGDC 1st quater earning up 38.5pc EPS stands at Rs3.89; DPS Rs1.5 per share announced Ghulam Raza Rajani KARACHI: The profit of Oil and Gas Development Company Limited's (OGDCL) -- largest petroleum exploration and production company -- surged by 38.5 per cent in 1QFY11. The result is near to "The Financial Daily" expectation as we have forecasted PAT of Rs16.12 billion and EPS of 3.73 which accounted for 3.7 per cent variation due to lower effective taxation of 31 per cent against TFD estimates of 33 per cent. Profit after taxation for the first quarter ended September 30, 2010 was Rs16.71 billion against Rs12.06 billion during same period last year resulting in earnings per share (EPS) of Rs3.89 in 1QFY11 versus Rs2.81 per share during the corresponding period of last year, according to financial results sent by the company

to KSE. Besides that company's has announced a first interim dividend of Rs1.5 per share. The net sales of the company during the period hiked 24 per cent to Rs39.45 billion compared with Rs31.82 billion during corresponding period last year. This increase is mainly due to higher realised prices of crude oil, gas, LPG, and sulphur and favorable financial impact of Rs2.78 billion on account of gas price revision in respect of Bobi field with effect from 01 January 2007. Net realised prices of crude oil, gas and LPG averaged at $61.92 per barrel, Rs216.5 per mcf and Rs48,707 per MT respectively compared to $ 58.38 per barrel, Rs 160.51 per mcf and Rs 44,096 per MT on respectively during the corresponding quarter See # 4 Page 11

Terrified Indonesians flee erupting volcano

Quake-triggered tsunami kills 113 JAKARTA: A powerful earthquake triggered a 10-foot (three-meter) tsunami that pounded remote island villages in western Indonesia, killing at least 113 people and leaving scores more missing, an official said Tuesday. The fault that ruptured Monday on Sumatra island's coast also caused the 2004 quake amd monster Indian Ocean tsunami that killed 230,000 people in a dozen countries. A day after the quake struck 13 miles (20 kilometers) beneath the ocean floor, rescuers were still struggling to get to the Mentawai islands - which are closest to the epicenter because of strong winds and rough seas on the way to the islands that can only be reached by a 12-hour boat ride. But reports of the damage and casualities from the 7.7-magnitude

Rehabilitation efforts for the flood affected people also came under discussion. Earlier, the new designated US ambassador to Pakistan Cameron Munter arrived here on Tuesday. According to US embassy spokesman Cameron Munter would assume the responsibilities of former US ambassador to country Anne W Patterson. See # 3 Page 11

ISLAMABAD: Foreign office spokesperson Abdul Basit has said talks with India are futile until it is ready to discuss outstanding issues like Kashmir and water disputes. Talking to a private TV channel, Basit said India is not ready to discuss issues regarding Kashmir or water dispute, although other matters are open for discussion, but if the basic problem of Kashmir issue is not resolved there is no point in having dialogues on any other issue. He said drone attacks in Pakistan have played a negative role and it is against our self respect

and sovereignty, added we believe in the policy of consensus, Pakistan has always stressed on solving issues through dialogue. He also said that PakAmerican strategic dialogue is a historical act and before this both countries had a rocky relationship, after the nuclear test sanctions were imposed on us, the reason for which was lack of trust but now things are looking up and both the nations are going towards better relations. He added that it is not possible to achieve all the targets in just one day, it needs time, and strategic dialogue is a positive step

Police collar several suspects

PAKPATTAN: After the bomb blast at Baba Fareed Shrine in which six people were killed, a large number of activists of banned religious organisations have been arrested from the Pakpattan and Sahiwal. Talking to media Deputy Superintendent Police (DSP) Sahiwal Arif Dogar informed implementation of Aghaz-e- that police arrested the seven Huqooq-e-Balochistan Package, office-bearers of several sources said. banned religious organisations President said that the Aghaz-eSee # 2 Page 11 Huqooq-e-Balochistan package has been designed to remove the sense of deprivations of the Balochi people and this package would be implemented soon.

towards this. He said that after Obama administration came they felt the need for better terms with Pakistan, he also mentioned that there has been three stages of strategic dialogue between both the countries and now America is providing assistance in the fields of energy, science, education and technology and all this is a result of positive foreign policy. Spokesperson said that the relations of Pakistan and China have become even better and China is a very close friend. He also said if peace is to be achieved in South

Asia the relations between India and Pakistan has to be improved and this is only possible with the Kashmir issue being resolved and Pakistan cannot compromise on core issues. He also said that Pakistan has highlighted the rehabilitation flood affectees and America is playing its role and from the 14 to 15th of November the meeting of Pakistan development forum will be held in which the problems faced by the flood affectees will be addressed in front of the world community. Online

Pak should have a clear stance on terrorism: Antony

Delhi asks Isb to change mindset NEW DELHI: Pakistan should shed its ambivalence on terrorism, defence minister A K Antony said while addressing the top brass of the Indian Army. "Pakistan does not appear to be willing to leave its India-centric posturing. It will have to shed its ambivalence in dealing with terror groups. Though we are not unduly concerned, we will have to keep constant vigil on the developments in Pakistan," Antony said at the Army commanders conference, reported the Times of India. The five-day conference, to be attended by senior Army generals, will review

the security scenario, operational and administrative preparedness and look at improving the Army's performance. It will also focus on training, and its effectiveness based on state-of-the-art technology. Fighting terrorism costs the nation substantially, Antony said, while reiterating that India would crush terrorism "with all our might". "The Army has been quite successful in countering the proxy war and in minimising the incidents of terror," he said. "Still, as long as the terror infrastructure across the border continues to flourish, See # 1 Page 11

Kashmir stated as a hurdle in Indo-Pak ties LAHORE: Major General Muhammad Yaqoob, Director General Pak Rangers said Pak-India ties could not be improved until settlement of outstanding issues between the two countries especially Kashmir issue. Major General Muhammad Yaqoob expressed these views while talking to media before fiveday dialogue between BSF and Pak Rangers.

Pak Rangers, BSF 5-day dialogue begins He said that he would ask Indian delegation to release innocent Pakistanis imprisoned in India. He said that all outstanding issues including border-crossing, smuggling, violation of cease-fire would come under discussion during the dialogue. He said that two rounds of debates were held between the forces of both the countries, which were proving successful to some extent. Answering to question he replied that during dialogue issue of releasing Pakistanis imprisoned in India would be raised. He said that if any person accidentally crosses the border then border forces keep him in custody only for See # 5 Page 11

Agreement reached to set up IILMC Shabbir Kazmi

temblor were already steadily rising. An Indonesian volcano erupted on Tuesday, prompting terrified villagers to flee and join the thousands already evacuated from its slopes. The peak of Mount Merapi was clouded with smoke, making it impossible to see if lava was spewing out, but ash was raining down on frightened residents. Authorities had been trying since Monday to evacuate more than See # 7 Page 11

KARACHI: Eleven central banks and two multilateral organisations signed the Articles of Agreement for the establishment of the International Islamic Liquidity Management Corporation (IILMC). The move aimed at assisting institutions offering Islamic financial services in addressing their liquidity management in an efficient and effective manner. In addition, the initiative would See # 6 Page 11

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

The Financial Daily-Epaper-27-10-2010  

The Financial Daily Epaper

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