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International Karachi, Thursday, October 28, 2010, Zul-Qa’dah 19, Price Rs12 Pages 12

Sharif urges govt to mend its ways

SAfrica repeat history; defeat Pak by six wickets Turk co to render 232MW to KESC

See on Page 12

Delhi on toes over Obama tour

See on Page 12

See on Page 12 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% $1,051 170.90mn

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

Portfolio Investment

Parliament to be taken into confidence regarding US dialogues

Cabinet Oks TAPI, lauds US pledges l ECC approves coal, clinker terminal at Port Qasim l Land Survey Bill also gets Cabinet consent Special Correspondent

SCRA(U.S $ in million)

76.33 27.11 0.94 2505

Yearly(Jul, 2010 up to 26-Oct-2010) Monthly(Oct, 2010 up to 26-Oct-2010) Daily (26-Oct-2010) Total Portfolio Invest (15 Oct-2010)

NCCPL (U.S $ in million)

FIPI (27-Oct-2010) Local Companies (27-Oct-2010) Banks / DFI (27-Oct-2010) Mutual Funds (27-Oct-2010) NBFC (27-Oct-2010) Local Investors (27-Oct-2010) Other Organization (27-Oct-2010)

0.33 3.02 0.34 -1.58 -0.31 -1.71 -0.08

Global Indices Index Close KSE 100 10,704.16 Nikkei 225 9,387.03 Hang Seng 23,164.58 Sensex 30 20,005.37 ADX 2,822.34 SSE COMP. 2,997.05 FTSE 100 5,641.66 *Dow Jones 11,035.99 *Last Updated 20:00 PST

Change 46.01 9.65 436.66 216.02 3.96 44.49 65.64 133.47

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

$.Price PKR/Shares 2.60 111.58 19.20 164.79 2.00 42.92 1.70 36.48 9.89 33.95 12.77% 13.08% 13.22% 13.50% 12.82% 12.99% 13.21% 13.61% 13.70% 13.64% 13.74% 13.83% 14.23% 14.36% 14.52%

20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010

Commodities *Crude Oil (brent)$/bbl 82.14 *Crude Oil (WTI)$/bbl 80.92 *Cotton $/lb 123.59 *Gold $/ozs 1,322.80 *Silver $/ozs 23.49 Malaysian Palm $ 981.30 GOLD (NCEL) PKR 37,016 KHI Cotton 40Kg PKR 8,895 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 85.10 Canadian $ 85.15 Danish Krone 14.80 Euro 119.00 Hong Kong $ 11.00 Japanese Yen 1.050 Saudi Riyal 22.90 Singapore $ 65.46 Swedish Korona 12.20 Swiss Franc 88.10 U.A.E Dirham 23.30 UK Pound 135.50 US $ 85.90

85.20 85.25 15.20 119.20 11.30 1.076 23.10 65.70 12.70 88.60 23.50 135.70 86.20

Inter-Bank Currency Rates Symbols

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

Buying TT Clean

Selling TT & OD

83.36 83.53 15.87 118.34 11.05 1.063 22.85 65.84 12.67 86.81 23.33 135.62 85.83

83.55 83.72 15.90 118.62 11.07 1.066 22.91 65.99 12.70 87.01 23.39 135.94 86.01

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

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Sept spreads up 19bps YoY Ahmed Siddique

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)

LAHORE: Federal Cabinet Wednesday lauded the pledges made by United States to lend a hand to Pakistan ailing economy during the Strategic Dialogues with Islamabad held in Washington while Turkmenistan, Afghanistan, Pakistan and Iran (TAPI) gas pipeline project also gets a nod from the Cabinet. Federal Cabinet, met under the chair of Prime Minister Syed Yousuf Raza Gilani, took stock of issues where the meeting was informed by Foreign Minister Shah Mehmood Qureshi about the Pak-US dialogues and it was also decided to take Parliament into confidence in this regard. During the meeting matters

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KARACHI: Weighted average banking spreads have surged by 19bps YoY in the month of September, mainly led by fall in deposit rate, according to data released by the State Bank of Pakistan (SBP). Average spreads of the banks in the country stood at 7.57 per cent in September 2010 against 7.38 per cent witnessed in same period last year. During the month, outstanding loans issued by banks were charged an average interest rate of 13.34 per cent (including zero markup) while outstanding deposits were rewarded at an average rate of just 5.77 per cent (including zero mark-up). If we compare on month on month basis the spread was also up by 1 bps where they were 7.56 per cent in August 2010. Cost of deposits decreased by 5bps at 5.77 per cent while they See # 18 Page 11

regarding load-shedding, power deficit, law & order, Pak-Afghan trade transit agreement and other vital issues also came under discussions. Federal Cabinet also reviewed the performance of the Cabinet, Economic Division and Environment Ministry at its meeting here Afterwards, briefing about the decisions of the cabinet information minister Qamar Zaman Kaira said that eighty five per cent decisions of the federal cabinet have been implemented in these division and ministry. The cabinet also reviewed the decisions of the ECC meeting. The cabinet felt that the money earmarked for the small farmers of the flood affected areas is not enough and asked

ECC to convene a special meeting and review its decision. The Cabinet approved the land survey bill. Foreign Minister Qureshi briefed the cabinet about the outcome of the Strategic Dialogue with the United States in the thirteen sectors having benefits in Pakistan. Information minister said that within next two days the people would be informed about the departments' performance level on the Strategic Dialogue. He said now this dialogue level is being enlarged as the US President is taking part in this dialogue and has said that dialogue with Pakistan should be on futuristic basis. In this connection a Steering Committee has been set up. It See # 16 Page 11

LAHORE: Prime Minister Syed Yousuf Raza Gilani chairing the Federal Cabinet meeting at Governor House Lahore here on Wednesday. -APP

Asma wins bar polls

Supreme Court lawyers body gets 1st woman head LAHORE: Polling for the Supreme Court Bar Association (SCBA) presidential elections

Sept urea offtake down 27.9pc YoY

DAP sales stay strong, up 36pc Aamir Abidi KARACHI: Fertiliser numbers recently released by National Fertilizer Development Centre (NFDC) portrayed a mixed picture for the month of September 2010. According to the NFDC figures, Di ammonium phosphate (DAP) offtake remained strong in September with the industry registering improvement of 35.7 per cent on a YoY basis. DAP sales reached to 256k tonnes compared with 188.61k tonnes in September 2009, nevertheless DAP offtake significantly surged 410 per cent MoM to 256k tonnes against 50.19k tonnes in August, 2010. Due to higher offtake of DAP, total fertiliser offtake increased 64.6 per cent to 686k tonnes in September 2010 against 417k tonnes witnessed in August 2010.

However, Urea offtake dropped 27.9 per cent YoY to 324.06k tonnes recorded in September 2010 against 449.65k tonnes of identical period last year, according to the data. Average retail prices of urea were recorded at Rs 851 per bag, showing a drop of 1.3 per cent MoM against price of Rs862 per bag recorded in August 2010. However, average retail price of DAP during September 2010 stood at Rs2628 per bag compared with Rs2597 per bag during August 2010, showing an increase of 1.2 per cent MoM. On the other hand, cumulative offtake of urea decreased 9.6 per cent to 4.19 million tonnes in 9MCY10 compared with 4.63 million tonnes in 9MCY09. See # 17 Page 11

has ended with unofficial results indicating that prominent lawyer Asma Jahangir has won the elections by 42 votes. See # 19 Page 11

Twin drone strikes kill 8 in NWA MIRANSHAH: US drones carried out two attacks in North Waziristan on Wednesday, killing 8 suspected militants and wounding dozen others, sources said. Four militants were killed and several others injured when See # 20 Page 11

National Economic Council

NEC undergoes restructuring ISLAMABAD: President Asif Ali Zardari on the advice of the Prime Minister Syed Yousuf Raza Gilani Wednesday approved the restructuring of National Economic Council (NEC) under 18th Amendment. The new composition of NEC consists of Prime Minister as the Chairman of the Council whereas ministers for finance, communication, health and housing & works would be the members representing the Federation. Chief ministers of Punjab, Sindh, Khyber-Pakhtunkhwa, Balochistan and Gilgit-

Baltistan will also be the members of the Council. The other members from provinces include Senator Muhammad Ishaq Dar from Punjab, Advisor to CM P&D department from Sindh, senior minister for P&D and Power from Khyber-Pakhtunkhwa, Finance Minister Balochistan and Chief Secretary GilgitBaltistan. In addition to the above, Governor KhyberPakhtunkhwa, Prime Minister AJ&K and Chief Secretary AJ&K would be invited by Special Invitation. -Agencies

UN agency to distribute 20k T seeds

Wheat growers get FAO seeds MILAN: The United Nations' Food and Agriculture Organisation has started distributing more than 20,000 tonnes of wheat seeds in Pakistan, where floods have threatened a key wheat planting season, an FAO official said. The food security of tens of millions of Pakistanis is at stake with the current planting

season after floods earlier this year destroyed 500,000600,000 tonnes of wheat seeds and more than 2.4 million hectares of cultivable land there, FAO said. "We have over 20,000 tonnes of wheat seeds moving through the country," Truls Brekke, FAO's communications officer in Pakistan, told Reuters. See # 15 Page 11

Indian forces open fire on PPP black day rally in Buttel sector

Kashmiris across world observe black day SRINAGAR/ ISLAMABAD: Kashmiris on both sides of the Line of Control and all across the world observed black day on Wednesday to convey to the international community that despite Indian state terrorism they reject its illegal occupation of Jammu and Kashmir. It was on this day in 1947 when India invaded Jammu and Kashmir while trampling

over the principles of the partition of British India and in disregard to the aspirations of the Kashmir people. Call for the observance of the day was given by the veteran Kashmiri Hurriyat leader, Syed Ali Gillani and the All Parties Hurriyat Conference Chairman, Mirwaiz Umar Farooq who were placed under house arrest by the authorities

in Srinagar. Agha Syed Hassan AlMoosvi, Nayeem Ahmad Khan, Mukhtar Ahmed Waza and Farida Behenji were also restricted to their residences. Yasmeen Raja and many other Hurriyat leaders and activists were taken into custody. The occupation authorities had imposed curfew and restrictions in Srinagar and

other towns of the Kashmir valley to prevent people from observing the day. The APHC had announced a march towards the United Nations Observers' Office in Srinagar, which could not be held due to the restrictions put in place by the authorities. About two dozen persons were injured, two of them critically, when paramilitary

troopers used brute force to disperse pro-freedom demonstrations in Baramula and Bandipore towns. Mirwaiz Umer Farooq and Syed Ali Gillani in their statements in Srinagar said that the Kashmiris had never accepted the illegal occupation of India and India would not be able to suppress Kashmiris' just struggle through brute force.

APHC leader, Ghulam Ahmed Mir, addressing a seminar in Jammu said that the people of Kashmir have been making supreme sacrifices to achieve their inalienable right to self-determination. The APHC AJK Chapter staged a sit-in outside the United Nations Observers Office in Islamabad, which See # 21 Page 11


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Thursday, October 28, 2010

Gas, power load-shedding in industrial areas

Industrialists threaten not to pay utility bills

NBP holds executives conference ISLAMABAD: A meeting of the representative of National Bank of Pakistan's (NBP) all central board executives and management was held here on Wednesday. Various employees issues were discussed to resolve them. During this meeting all the participants reposed full confidence in the leader ship of the President of the Bank and assured maintenance of industrial peace in the institution. The CBA's also expressed their gratitude for liberal and highly motivating pay package earlier announced by the Management.-PR

the bills to any of the utility agency. The former Chairman, KATI, Mian KARACHI: The industrial sector has Zahid Husain in his proposal advised the shown great concern over the massive government to immediately arrange an closure of industries in Karachi if the additional 200 to 300 mega watts from KESC and SSGC execute their plan to WAPDA to KESC so that load-shedding carry out load-shedding in industrial areas plan by KESC would not be extended to compelling industries to stop payment of industrial areas. He pointed out that bills to both the utilities' agencies. except Karachi rest of the country is not The Chairman, Korangi Association of facing load-shedding and WAPDA can Trade and Industry (KATI), Syed Johar easily enhance power supply to KESC. Ali Qandhari along with representatives The Chairman, Pakistan Tanners of other town associations warned gov- Association, Aziz Ahmed pointed at this ernment that industrialists would be occasion that load-shedding has already forced to stop payment of bills to KESC started in Tannery Zone (Sector 7-A) and and SSGC if the load-shedding would be leather industry has been badly affected. extended to industrial areas as per the He said that Eidul Azha is approaching schedule announced by the KESC. fast and this is very crucial time for this Qandhari said that load-shedding by second largest export oriented industry KESC in industrial areas would result in when it collects whole year's raw material closure of many industries while production in shape of skins and in case of load-shedof all the factories would be badly affected ding the huge stocks of hides and skins KARACHI: An independent consumer survey condue to which they would not be able to pay would be destroyed. ducted by The Nielsen Company has shown that consumers have highly positive perceptions towards products or services that are associated with the Superbrands logo. Over 70 per cent of the respondents said that they are more likely or much KARACHI: Intel Pakistan KARACHI: Sindh Employers' Federation of more likely to consider buytoday announced the Minister for Tourism Pakistan (EFP) in collabo- ing a Superbrand. About appointment of Naveed Shazia Marri has said that ration with ILO two-thirds said that they are Siraj as its new Country women in Pakistan are fac- (International Labour more likely or much more Manager. Siraj joins Intel ing difficulties and attitude Organization) under its 3 likely to recommend a from Hewlett-Packard and problems by their col- years project to address the Superbrand to a friend. More will be based in Karachi. leagues at workplaces and issue of gender disparity in than half the respondents Siraj began his career in stressed need to sensitize Pakistani society. believed that Superbrands 1993 and has in total more society for provision of Shazia Marri said that are trustworthy brands and than seventeen years IT better environment at the problems of women nearly 7 out of 10 said that industry experience in roles workplaces and maximum were existing because all these brands must be high including Account Sales possible opportunities to policies of women empow- quality products. The Manager, National Sales womenfolk as available to erment are being formulat- Nielsen Omnibus Survey Manager and Country male in daily life. ed by males. She criticized was conducted in October Lead. He holds a Bachelor's This she said while that people blame America 2008 in South East Asia. in Computer Science & addressing as chief guest other western societies for Superbrands has also Engineering, from to an interactive advocacy the social problems in launched its program in University of Nebraska at workshop under title Pakistan but nobody real- Pakistan and is collaboratLincoln and a Master's in "Promoting Gender ize that we do not follow ing with Nielsen Company Industrial Engineering from Responsive Practices at our own laws and said that for identifying top rated the State University of New workplaces" here at a local the people even do not fol- brands in the Pakistani York.-PR hotel, today, organised by low traffic laws.-Online market.-Agencies M Imran Sharif

Superbrands, a trusted mark

Naveed Siraj made Intel's country manager

Marri advocates better workplace for women

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 THURSDAY 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

Chile delegation meets Sindh finmin

Investmets prospects in Sindh on rise KARACHI: Investment prospects in Sindh are not only bright but fruitful as well for potential investors and entrepreneurs, these observation were made by Sindh Finance Minister Syed Murad Ali Shah during his meeting with a delegation led by Chairman LUKSIC Group Andronico Luksic from Chile at his office here today. Appraising the delegation members of the investment prospects in Sindh, the Provincial Finance Minister Syed Murad Ali Shah stated that Sindh province is very rich in natural resources and the present Government will extend every possible assistance and help to investors; investment in projects of irrigation, coal, hydro power, mining, can be very productive and profitable, he added, The Sindh Government will ensure to provide full security to foreign nationals, working on any project in Sindh, he further said.

IoBM’s moot on corporate strategy

THURSDAY 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

KARACHI: Shazia Marri, Minister for tourism addressing to the gathering during Interactive Advocacy Workshop on Gender Equality hosted by Employs Federation of Pakistan at local hotel.-Staff Photo

Staff Reporter

KARACHI: Traders of Sher Shah Market hold a demonstration rally against non arrest of the culprits of Sher Shah market Firing incident.Online

Sindh Bank to credit rural farmers

Sharmila lauds SBP nod for Sindh Bank KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Farooqui has applauded the State Bank of Pakistan for issuing NOC for the establishment of Sindh Bank and said this outcome is a landmark achievement which would bring an innovative social, agriculture and economic development in the province. "Sindh Bank will provide a big component of microfinance and agriculture credit to farmers in rural Sindh and small enterprises in urban slums. It will

expand micro finance and agriculture credit to millions in Sindh," she said while talking to media at her office. The credit of achieving NOC for the establishment of this innovative bank goes to President Asif Ali Zardari, Prime Minister Yousuf Raza Gillani and Sindh Chief Minister Syed Qaim Ali Shah who made hectic efforts in this regard, she said. The advisor said, "we held deliberations with technical experts who convinced us that this initiative

is needed to be taken forward and we have now finally got NOC from the SBP which is a milestone for opening new avenues for the progress in Sindh province". She said that the government is implementing a multi-dimensional plans to financially empower deprived sections of the society, particularly farmers and small traders. Sindh bank would be a commercial venture and the private sector would hold its majority shares", she added.-APP

New US envoy meets President Staff Correspondent ISLAMABAD: Cameron Munter, the newly appointed Ambassador of the United States to Pakistan, presented his credentials to Asif Ali Zardari at the Aiwan-eSadr in Islamabad today. Speaking at the ceremony, Ambassador Munter told the President, "I am

looking forward to working with the democratically elected Government and with people around the country to strengthen our deep, long-term relationship based on honesty and mutual respect." The Ambassador expressed US appreciation for Pakistan's sacrifices in its ongoing fight against extremism and terrorism. He also

assured the President of America's continued support for Pakistan's economic development, and for regional stability. Ambassador Munter was joined at the ceremony by his wife, Marilyn Wyatt, and accompanied by Deputy Chief of Mission Stephen Engelken, Civilian Assistance Coordinator.

Later, Secretary Coal and Energy Mineral Department Sindh Ijaz Ali Khan informed the delegation members of the tremendous potential, that exists in Thar Coal field and said that there exists 176 Million tons of Coal and that within a month international competitive bidding for 4 blocks will be under taken along with (EOI)Expression of Investment in Thar infracture projects with a view to have a complex of petro chemical. The leader of the delegation Andronico Luksic thanked the Provincial Finance Minister and others for the information provided with regard to potential of investment in Sindh and said that Pakistan must keep Latin American countries in view as regards attracting investment; and further that upon his return he will place with his Chilean Government the request to open its Embassy in Pakistan as well to further enhance economic ties.-APP

Qaim inaugurates tailoring centre KARACHI: Chief Minister Sindh Syed Qaim Ali Shah on Wednesday inaugurated a Tailoring Centre under Economic Development Project for Women established by National Commission for Human Development in collaboration with Shaheed Benazir Bhutto Youth Development Program at Razzaqabad relief camp. The centre will initially impart training to 50 ladies in tailoring, cutting, sewing etc. According to a program, 350 centers will be established in 13 districts

where about 8750 ladies will be trained. Chief Minister was informed that four-months training will be imparted and trainee will be paid a stipend of Rs2500. Chief Minister went round the training centre and inspected facilities being provided to them. Provincial Ministers Syed Ali Nawaz Shah, Tauqeer Fatima Bhutto, Sajid Jokhio; Chairperson NCHD Nafeesa Shah, Advisors to CM Sindh Rashid Hussain Rabbani, Siddique Abu Bhai.-PPI

FPCCI calls for safeguarding consumer rights KARACHI: Federation of Pakistan Chambers of Commerce and Industries (FPCCI) Standing Committee on Consumer Rights Protection in its second meeting on the ongoing related problems caused to consumers due to adulteration and contamination in the food items has stressed the need for legislation and regulations that the government need to put in place for creating a healthier environment for consumers. The meeting was chaired by Committee Chairperson Huma Bukhari at Board Room, Federation House Karachi. It was decided in principal that the committee members would undertake visits to the healthcare units in various towns, provide assistance and extend financial support to continuation of quality service to the people. The meeting also focused on the identification and removal of quacks existing in almost every town, which are playing havoc with the health of innocent people. Huma Bukhari called for raising the awareness about the consumer issues and involvement of the committee in addressing them. The awareness should be a joint effort involving media, civil society, academia and other social stakeholders in order to educate people about consumer protection rights and its protection, she vowed.-Online

KARACHI: Institute of Business Management's (IoBM) first conference on corporate governance strategy and its competitiveness, in collaboration with Pakistan Institute of Corporate Governance (PICG), Center for International Private Enterprise (CIPE) and Marketing Association of Pakistan (MAP), is scheduled to be held on Nov 10. This was announced in a statement issued by the public affairs section of the institute. This Conference provides multiple opportunities to gather with conference attendees and influStaff Reporter we are bringing a famil- from next week. ence the community of feliar, faster and more intuThe first of a series of low senior market leaders. KARACHI: Nokia's lat- itive user experience to smartphones based on the est entertainment smart- the world's most popular new Symbian, the Nokia phone Nokia N8 with smartphone platform," N8 is fast, easy to use Ovi services and unlimit- says Imran Mahmood, and supports true multied playing capabilities GM Nokia Pakistan. tasking, allowing users to has arrived in Pakistan. Customers who had run multiple apps simulThis was announced at pre-ordered the Nokia N8 taneously and switch the press launch of the with Ufone service cen- between them easily. device at a local hotel tres will start receiving Social networking on LAHORE: Pakistan today. their phones today the Nokia N8 is as easy Industrial & Traders "With the N8 and the whereas the device will as making a phone call or Associations Front (PIAF) new Symbian software, be available at retail sending an SMS. has expressed deep concern over the reports issued by State Bank of Pakistan and Transperancy International and urged the government to take corrective measures to save the country from further economic collapse. In a press statement issued here the PIAF Acting Chairman Khwaja Shahzeb Akram said that the reports of both institutions were well reflecting the fragile state economy, declining trade & industrial activities and lack of merit in the country. He said that the circumstances were causing bad name for the KARACHI: Group photo of Imran Khalid Mahmood, Country General Manager Pakistan & Afghanistan and Henri Mattila Head of Category Marketing, country and foreign Mobile Computers Middle East and Africa models show a new Nokia N8 investors were not ready to Mobile phone during its launching cermony at local hotel.-Staff Photo invest a single penny.-APP

New Nokia N8 hits Pak outlets

PIAF voices concern over corruption


3

Thursday, October 28, 2010

Swiss franc declines ZURICH: The Swiss franc fell to a fresh month low against the dollar, which rose broadly on Wednesday after a newspaper said the US Fed may announce plans for bond purchases next week. "For dollar/Swiss we continue to favour near-tem recovery," Commerzbank technical analysts wrote in a note. "(The) initial target is the 55-day moving average at 0.9976." "Support (for the pair) lies at 0.9660/20," they also said, adding that there was further support at around 0.9500. The franc rose 0.1 per cent against the euro compared to the New York close, trading at 1.3628 per euro at 0717 GMT. The franc fell 0.5 per cent against the dollar to 0.989 per dollar. UBS economist Reto Huenerwadel said the fact that the dollar/Swiss market was less liquid than euro/Swiss might affect the franc's strength against the euro. The Swiss franc gained more than 10 per cent against the euro earlier this year, as investors favoured the country's robust recovery and the safe-haven status of its currency. -Reuters

Greenback rallies as investors reduce short bets USD rises to 2-week high vs yen, 1-wk high vs euro NEW YORK: The dollar rose against the euro and yen on Wednesday, pushing the dollar index higher year to date, as investors eased short bets against the currency ahead of a Federal Reserve meeting. While Fed meetings are always of paramount interest, the coming statement is more anticipated than usual given the central bank has telegraphed several times it will add to the liquidity in the system to stoke economic growth through additional quantitative easing. The question now is by how much and whether the new measures will be phased in over time? Some investors are more willing to take bets on the dollar on expectations the US economy will gain traction from QE, particularly compared with other regions such as the euro-zone. The Wall Street Journal report-

ed the Fed would make bond purchases worth a few hundred billion dollars over several months, which compared with investors' base-case scenario for an initial commitment to buy at least $500

billion. In a Reuters survey earlier this month, US primary dealers' projections for the size of the Fed's expected quantitative easing at its Nov. 2-3 policy meeting ranged from $500 billion to $1.5 trillion. The dollar hit a two-week high against the yen and a one-week peak versus the euro, which was also knocked by euro-zone banks

taking up more cheap funding than expected at a three-month ECB tender. The greenback jumped against the Australian dollar and hit a one-month high against the Swiss

franc. Midway through the New York session, the euro was down 0.5 per cent at $1.3784. It fell as low as $1.3758 on electronic trading platform EBS after triggering stop loss orders at $1.3770. The break of an option barrier at $1.3800 accelerated selling earlier in the global day. The dollar trimmed gains ver-

Won, ringgit down as Fed view raises dollar of the buying. Analysts and dealers said they expected more dollar short-covering, which would keep Asian currencies weak. The won slid as much as 1.4 per cent against the dollar as dealers reassessed their Fed expectations. Korea's central bank said rising capital inflows were adding to the burden of economic and central bank policymaking, also weighing on the won. Later, Bank of Korea Governor Kim Choong-soo said the reintroduction of taxes on foreign bond investors was being considered to ease volatility from capital flows, but no decision had been made.

Dealers said the dollar short covering and the prospect of capital measures meant the won would probably slide to 1,140 per dollar near term, despite support from exporters, dealers said. The ringgit fell 0.4 per cent against the dollar in choppy trading. The Thai baht fell a fifth of a per cent but dealers expected range trading to limit the currency. "The market lacks major factors, and the baht should be confined to the 29.85-29.95 range during the next week with no material change in capital inflows to Asia. The measured dollar rebound this week gives Asian central banks a break in their jobs to intervene," a dealer at a Thai bank said. -Reuters

Sterling slips against broadly strong dollar

Taiwan dollar ends lower

LONDON: Sterling slipped against a broadly stronger dollar on Wednesday, retreating from the previous session's rally as investors trimmed bearish bets against the dollar on uncertainty over Federal Reserve stimulus. However, the pound held its ground against the euro as investors continued to pare expectations about further quantitative easing (QE) from the Bank

of England. That followed surprisingly strong UK economic growth data and positive comments from ratings agency Standard and Poor's on Tuesday. "We're seeing some profit taking into short dollar positions, including cable, so sterling is a bit weaker today," said Valentin Marinov, currency strategist at Citi. Still, he said the pound would remain well supported in the near term as investors believe the UK central bank is unlikely to announce next week that it will embark on a second

round of QE, in which it floods the market with pounds to stimulate the economy. The market's view on QE changed on Tuesday, when data showed the UK economy expanded at a quarterly rate of 0.8 per cent in July-September, twice as fast as forecasts. Also providing support to the pound was rating agency S&P's revision on Tuesday of its UK

outlook to "stable" from "negative", securing its triple-A credit rating. In late London trade, sterling fell 0.4 per cent to $1.5770, retreating from a one-week high of $1.5897 struck on Tuesday. The euro fell 0.2 per cent to 87.25 pence, having fallen roughly 1.5 per cent on Tuesday. The pound also got support from BOE deputy governor Charlie Bean who said growth in the previous two quarters had been surprisingly strong. -Reuters

TAIPEI: Taiwan's central bank sent the local currency lower on Wednesday after a session of largely flat trade dominated by edginess over the scope of quantitative easing in the United States, dealers said. The Taiwan dollar closed at T$30.90 to the US currency compared with its Tuesday final price of T$30.76, as the central bank sold it to control volatility and offset sharp gains in recent weeks. Taiwan's monetary authority bought more than $5 billion in US currency between Sept. 27 and Oct. 26, according to an IFR Markets survey of traders. Earlier in the day, broad gains in the recently battered US currency held back the Taiwan dollar and other Asian forex markets. Prospects of bolder US monetary easing had pushed the Taiwan dollar on Monday to its strongest final price since Aug. 5, 2008. The local central bank cringes at such sharp gains as it seeks to make the currency affordable to exporters. "The US dollar rebounded against G3 currencies, so the Taiwan dollar was already a bit weaker, but the central bank moved in the final minute of trade to pull it down further," a dealer in Taipei said. -Reuters

Aussie sinks on tame inflation; NZ$ outperforms SYDNEY/WELLINGTON: The Australian dollar slumped over a cent and bond futures rallied on Wednesday after surprisingly tame inflation data led investors to doubt the central bank would raise interest rates next week. Within seconds of the inflation report, swap rates dropped and the Australian dollar fell as far as $0.9720, from New York's $0.9844. Support was seen at $0.9665. Stop-loss selling under $0.9818 and $0.9750 had aggravated losses, with a rebound in the US dollar further squeezing the currency. "The RBA decision next week will be a close call, especially with the consumer price index data today not providing the so-called 'smoking gun,'" said Helen Kevans, a JPMorgan analyst. Data showed a measure of underlying inflation favoured by the Reserve Bank of Australia (RBA) had cooled to an annual rate of 2.5 per cent in the third quarter, the slowest pace in five years and under forecasts for a 2.6 per cent gain. Yet, many analysts noted even if the RBA does

not lift rates to 4.75 per cent at its Nov 2 meeting, from 4.5 per cent now, it was merely postponing the inevitable. That should prevent the Aussie dollar from falling too far. After all, the RBA itself has said many times rates must go up to prevent booming commodity exports from fuelling inflation. Indeed, Stephen Walters, an economist at Nomura, said while third-quarter inflation was within the RBA's target 2-3 per cent range, inflation is unlikely to ease further from here. By late trade, the market was priced for just a 17 per cent chance of a hike next week, down sharply from 60 per cent seen earlier in the day. The slump in the Aussie dollar helped the New Zealand dollar outperform its neighbour. The Aussie dollar hit a one-week low of NZ$1.3009, from NZ$1.3056 before the inflation data. Against the greenback, the kiwi was steady around $0.7478, after ranging between $0.7465/$0.7501, with an improvement in business confidence for the first rise in five months failing to excite markets. -Reuters

sus the euro after data showing US durable goods orders rose more than expected in September though it then extended gains after a separate report showed US new home sales rose more than expected the same month. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.4 per cent at 77.984 and is up 0.2 per cent year to date at current prices. Against the yen, the dollar rose as high as 81.99 yen on electronic trading platform EBS, pulling further away from a 15-year low of 80.41 yen struck earlier this week. It last traded at 81.53 yen. The Aussie dollar was down 1.5 per cent at $0.9702, dented by a smaller-than-expected rise in Australian consumer prices last quarter which was seen reducing chances of future interest rate hikes. -Reuters

Yuan ends lower on cbank fixing

Asian currencies

SEOUL: The South Korean won and the Malaysia ringgit led a fall in Asian currencies on Wednesday as markets factored in less aggressive quantitative easing by the Federal Reserve following a news report. South Korea and Singapore's central banks warned of the risks from a surge of capital inflows, underlining worries that Asian authorities may take measures to curb hot money. The Wall Street Journal said the Fed is likely to reveal "a measured approach" in buying US Treasury bond amounting to several hundred billion dollars over several months, prompting some investors to scale back their expectations for the extent

Top Economic Events

SHANGHAI: Spot yuan closed down against the dollar on Wednesday after the People's Bank of China set another weaker mid-point in a move seen aimed at curbing mounting speculation of further yuan appreciation. The market is dominated by expectations of another round of yuan rises in November during a slew of political events in the United States , including mid-term elections, and in conjunction with the G20 leaders' summit in Seoul in the middle of the month. Since a surprise interest rate rise a week ago, the People's Bank of China has reined in the yuan after the Chinese currency jumped more than 2 per cent against the dollar from early September to mid-October in its quickest pace of appreciation since its landmark revaluation in July 2005. While the PBOC apparently wants to avoid more inflows of speculative capital from a rise in interest rates, dealers said the Chinese central bank also hoped to dampen strong mar-

ket expectations of yuan appreciation. "Hopes are one thing, reality is another," said a senior dealer at a US bank in Shanghai. The yuan posted its biggest monthly loss against the dollar since the revaluation in August while it also scored its biggest post-revaluation monthly appreciation in September. The yuan closed at 6.6806 against the dollar, down from Tuesday's close of 6.6627. The yuan has now risen 2.18 per cent since the PBOC depegged it from the dollar on June 19. The PBOC set the mid-point, or its reference rate from which the yuan can rise or fall 0.5 per cent in a day, at 6.6912 on Wednesday, compared with Tuesday's 6.6762. If the PBOC sets the midpoint lower this week, it could engineer a fall in the yuan in October ahead of possible rises in November, dealers said. Many dealers expect the yuan will not fall far beyond 6.70 to the dollar as China seeks to avoid angering critics of its currency policy. -Reuters

Indian rupee recovers from 2-week low MUMBAI: The Indian rupee recovered from a two-week low on Wednesday as the dollar gave up some of its gains versus major currencies while weak domestic shares did little to dent hopes for more foreign capital inflows. The partially convertible rupee closed at 44.445/450 per dollar, little changed from Tuesday's close of 44.435/445 Tuesday. The unit had dropped to as low as 44.64 in early deals, its weakest since Oct. 12. "The dollar gave up its gains versus majors in the afternoon, that actually helped lift the rupee off its lows," said Vikas Chittiprolu, a senior foreign exchange dealer with state-run Andhra Bank in Mumbai. Traders expect the rupee to weaken towards 45 next week when Coal India begins to refund excess subscriptions for its $3.5 billion IPO, which had attracted institutional orders for about $27 billion mainly from foreign funds.

They said the unit could likely trade in a 44.40-44.70 range on Thursday and watch shares and major currencies for direction. One-month offshore nondeliverable forward contracts were quoted at 44.88, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 44.88, 44.88 and 44.87 respectively, with the total traded volume on the three exchanges at about $7.8 billion. -Reuters

Time 4:30am 4:30am 4:30am 5:00am 5:00am 4:45pm 4:45pm 6:30pm 6:50pm 6:50pm 7:01pm

Source GBP GBP GBP EUR EUR NZD NZD AUD JPY JPY GBP

Events CPI y/y Core CPI y/y RPI y/y German ZEW Economic Sentiment ZEW Economic Sentiment PPI Input q/q PPI Output q/q WMI Consumer Sentiment m/m CGPI y/y Current Account RICS House Price Balance

Source

Events

EUR EUR GBP GBP GBP GBP CAD

French Industrial Production m/m Italian Industrial Production m/m PPI Input m/m Trade Balance DCLG House Price Index y/y PPI Output m/m New Housing Price Index m/m

Forecast 2.30% 1.50% 4.10% -45 -43 1.00% -10.00% 2.70% 1.90T -52.00%

Previous 2.10% 1.40% 4.00% -41.6 -41.7 2.30% 1.60% -8.30% 2.60% 2.16T -49.10%

Actual

Forecast

Previous

0.70% -0.50% 2.60% -7.6B 9.10% 1.00% 0.10%

0.70% 0.50% 1.00% -7.4B 8.00% 0.50% 0.30%

-1.70% -1.10% 1.40% -7.9B 9.70% 0.40% 0.50%

Previous Day

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 1.3746 1.3880 0.8739 0.8752 1.3633 1.3702 112.41 113.18 0.9915 0.9919 1.0337 1.0337 1.573 1.586 128.66 129.57 0.9596 0.9631 1.4215 1.4248 82.49 83.02 1320.14 1342.93 23.42 24.24

Bid 1.3742 0.8735 1.3628 112.37 0.9909 1.0332 1.5729 128.59 0.9656 1.4208 82.43 1319.44 23.39

Low 1.3738 0.8716 1.3611 112.25 0.984 1.0228 1.5729 128.57 0.9576 1.4159 82.27 1319.23 23.37

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 27/10/2010 A USD GBP CAD EUR JPY O/N 0.22563 0.55250 1.02833 0.74875 SN 0.09438 1WK 0.24981 0.55500 1.05083 0.75500 0.10688 2WK 0.25125 0.56125 1.07000 0.76563 0.11313 1MO 0.25531 0.56875 1.10917 0.80063 0.12563 2MO 0.27078 0.62813 1.15583 0.85125 0.15438 3MO 0.28813 0.73975 1.21833 0.97813 0.19688 4MO 0.33969 0.82413 1.27917 1.04063 0.28125 5MO 0.40156 0.92688 1.33750 1.12500 0.33813 6MO 0.45031 1.03000 1.40333 1.22125 0.39750 7MO 0.50219 1.10375 1.46500 1.26625 0.45750 8MO 0.55025 1.18475 1.54833 1.31188 0.50500 9MO 0.60063 1.26688 1.61500 1.36625 0.55500 10MO 0.65375 1.34250 1.68333 1.41125 0.58250 11MO 0.70688 1.41125 1.76500 1.45625 0.61063 12MO 0.76538 1.47913 1.83667 1.50219 0.63813

Major Central Banks Overview Central Bank

Next Meeting

Last Change

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

Dec 07 2010 Nov 04 2010 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 27,2010 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

85.90 135.94 118.62 83.72 87.01 83.55 12.70 1.05 14.57 65.99 15.90 22.91 11.07 12.86 304.84 27.62 64.18 23.60 23.39 0.08 2.87

85.70 135.62 118.34 83.53 86.81 83.36 12.67 1.05 14.54 65.84 15.87 22.85 11.05 12.83 304.13 27.55 64.04 23.54 23.33 0.08 2.86

85.52 135.31 118.06 83.31 86.58 83.14 12.64 1.05 14.50 65.67 15.83 22.79 11.02 12.80 303.33 27.48 63.87 23.48 23.27 0.08 2.85

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for October 27, 2010

ELIXIR

BMA

KASB

GSL

ICSL

9 12.40 12.40 12.40 12.45 12.65 12.75 12.95 13.05 13.15 13.40 13.65 13.70 13.75 13.75 13.75 13.75 13.70 13.85 14.25

8.5 12.50 12.30 12.40 12.42 12.69 12.80 12.95 13.02 13.15 13.40 13.60 13.70 13.75 13.75 13.75 13.75 13.75 13.80 14.25

8.7 12.30 12.25 12.35 12.45 12.60 12.70 12.95 13.10 13.15 13.35 13.70 13.72 13.74 13.75 13.75 13.75 13.78 13.80 14.25

8.5 12.20 12.25 12.35 12.40 12.70 12.85 13.02 13.12 13.22 13.40 13.65 13.68 13.74 13.75 13.76 13.77 13.65 13.85 14.20

8.5 12.35 12.25 12.35 12.45 12.65 12.85 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

0-7days 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

JSCM AvgRate 8.9 12.30 12.25 12.35 12.45 12.70 12.80 13.00 13.10 13.20 13.35 13.70 13.72 13.74 13.75 13.75 13.75 13.78 13.85 14.25

8.68 12.34 12.28 12.37 12.44 12.67 12.79 12.98 13.08 13.18 13.38 13.65 13.71 13.75 13.75 13.75 13.75 13.74 13.84 14.23

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

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

week month months months year years

-0.07 0.36 0.63 0.83 0.51 0.54

-0.89 -0.37 0.71 -0.61 0.45 0.15

-0.77 -0.22 0.63 0.16 0.47 -0.17

-0.82 0.47 0.89 0.03 0.63 0.52

EUR/USD NZD/USD -0.45 0.28 0.81 0.84 0.88 0.76

USD/CAD USD/CHF

0.74 0.52 0.73 0.85 0.64 0.59

-0.12 -0.79 -0.80 -0.50 0.30 -0.48

-0.98 -0.68 -0.47 -0.93 -0.76 -0.66

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)27/10/2010 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

ASK

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

ABLN 12.00

12.50

12.10

12.60

12.25

12.75

12.75

13.00

12.90

13.15

13.10

13.60

13.25

13.75

13.35

13.85

JSBL

12.20

12.70

12.15

12.65

12.35

12.85

12.75

13.00

13.05

13.30

13.20

13.70

13.30

13.80

13.50

14.00

ASPK 12.15

12.65

12.20

12.70

12.30

12.80

12.65

12.90

12.90

13.15

13.10

13.60

13.15

13.65

13.30

13.80

CIPK

12.25

12.75

12.35

12.85

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 12.10

12.60

12.10

12.60

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 12.15

12.65

12.15

12.65

12.15

12.65

12.65

12.90

13.00

13.25

13.10

13.60

13.15

13.65

13.40

13.90

FLAH 12.25

12.75

12.25

12.75

12.30

12.80

12.75

13.00

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

HBPK 12.20

12.70

12.25

12.75

12.35

12.85

12.75

13.00

13.00

13.25

13.10

13.60

13.20

13.70

13.35

13.85

HKBP 12.30

12.80

12.20

12.70

12.30

12.80

12.75

13.00

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

NIPK

12.30

12.80

12.40

12.90

12.65

13.15

12.85

13.10

12.95

13.20

13.05

13.55

13.10

13.60

13.15

13.65

HMB

12.25

12.75

12.20

12.70

12.45

12.95

12.80

13.05

13.00

13.25

13.15

13.65

13.20

13.70

13.30

13.80

SAM

12.25

12.75

12.15

12.65

12.35

12.85

12.85

13.10

13.00

13.25

13.15

13.65

13.25

13.75

13.35

13.85

MCB

12.15

12.65

12.20

12.70

12.40

12.90

12.80

13.05

12.95

13.20

13.10

13.60

13.20

13.70

13.40

13.90

NBPK 12.30

12.80

12.20

12.70

12.25

12.75

12.75

13.00

12.80

13.05

13.10

13.60

13.20

13.70

13.30

13.80

SCPK 12.30

12.80

12.25

12.75

12.30

12.80

12.70

12.95

12.95

13.20

13.10

13.60

13.15

13.65

13.35

13.85

UBPL 12.25

12.75

12.10

12.60

12.20

12.70

12.60

12.85

12.95

13.20

13.10

13.60

13.20

13.70

13.30

13.80

AVE

12.73

12.20

12.70

12.32

12.82

12.74

12.99

12.96

13.21

13.11

13.61

13.20

13.70

13.33

13.83

ABPL

12.23


4 Thursday, October 28, 2010

Need to review Strategic Partnership with the US

The Financial Daily International Vol 4, Issue 82

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

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

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

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

Working up a complete gas policy Local experts have been saying for ages that in order to contain oil import bill Pakistan has to enhance indigenous production of natural gas and ensure its optimum utilisation. To further augment supply during seasonal shortages they recommended import of gas as LNG and through pipeline for a long-term solution. They also say Iran-Pakistan pipeline should be extended up to China, which has repeatedly expressed its intention to join the project as well as provide financing. It is a welcome move that the Friends of Democratic Pakistan (FoDP) has lent support to Islamabad's plan to import natural gas from Iran. In addition to that, as per reports, United States, an active component of the forum, has also tacitly agreed not to oppose the pipeline. FoDP Energy Sector Task Force report says, "Gas imports via cross-border pipeline must start in the medium term (2014-15) then increase to cover the long-term gap." The report was jointly prepared by the Asian Development Bank (ADB) and the Ministry of Water & Power after detailed talks with FoDP delegations. According to the report Pakistan's current average production is about 4 billion cubic feet per day (BCFD) and total gas reserves are around 33 trillion cubic feet (TCF) --equal to 24 years of current production. It added the gas import through IranPakistan pipeline should materialise over the next five years as the year 2010 has been and 2011 would be very critical with gas gap exceeding 1.3 BCFD. Thus implementation of plans for importing liquefied natural gas (LNG) and drilling of tight gas (gas difficult to access) reserves must be ensured to decrease the gas gap in the medium term. The report also highlighted that decline in gas production from the existing seven large fields producing 65 per cent of total output was the result of development strategy failure. If the tight gas recovery plans, LNG import, and pipeline projects do not materialise, the gas shortfall would increase to more than 2 BCFD in 2013-14 and 5.08 BCFD by 2019-20. The task force also advised the government to offer lucrative incentives to enhance indigenous production of gas. Moreover, the task force raised objections over huge guaranteed rates of returns for gas utilities and heavy unaccounted for gas (UFG) losses. Against a target of reducing the UFG to less than 4.5 per cent, these losses for the Sui twins hover around 8-9 per cent. The task force has also cast reservations over gas marketing companies' getting guaranteed rate of return on net operating assets --17 per cent for SSGC and 17.5 per cent for SNGPL. Such high returns have encouraged over-investment in system expansion instead of reducing UFG. As a result, the two utilities continue to expand networks even though existing consumers don't have sufficient supplies of gas. Economic managers of Pakistan should be thankful to FoDP which has provided the future Gas Policy with some very important points-to-ponder as most of the recommendations are not different from what the local experts have been saying. It must be realised that sooner the country overcomes energy shortage, the earlier it could embark upon its GDP boosting strategy.

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.

Sobea Tabbasum

"

The "war on terror" is now in its tenth year. What is it really all about? The bottom line is that the "war on terror" is about creating real terrorists. The US government desperately needs real terrorists in order to justify its expansion of its wars against Muslim countries and to keep the American people sufficiently fearful that they continue to accept the police state that provides "security from terrorists," but not from the government that has discarded civil liberties. The US government creates terrorists by invading Muslim countries, wrecking infrastructure and killing vast numbers of civilians. The US also creates terrorists by installing puppet governments to rule over Muslims and by using the puppet governments to murder and harass it own citizens as is occurring on a vast scale in Pakistan today. Neoconservatives used 9/11 to launch their plan for US world hegemony. Their plan fit with the interests of America's ruling oligarchies. Wars are good for the profits of the military/security complex, about which President Eisenhower warned us in vain a half century ago. American hegemony is good for the oil industry's control over resources and resource flows".( Paul Craig Roberts in Counter punch of Wall Street

Journal 17 0ct) This writing of Paul Robert Shows US ambitions of launching Long War On Terror and indicate that why US is unwilling to leave Afghanistan. Now war became prolonged and US now want to make Pakistan its strategic partner and third session of these strategic talks is going on. Before that in 2006 first session between President Musharraf and Bush held and decided bilateral investment treaty and cooperation on energy issues but no progress afterwards. In 2009 second session was held and after that session US demanded A.Q.Khan and force Pakistan not to import gas from Iran and also demanded for operation in N. Waziristan. Along with that US put pressure on Pakistan to stop cooperation with China on energy needs. Now third session is going to be held in US and army chief of Pakistan General. Ashfaq Parvez Kayani is representing Pakistan. There is a need in Pakistan to understand the Strategic issues for Pakistan. Strategic issues can be said those issues that are necessary to be planned for survival, security socio-eco progress of a state. In this way strategic issues for Pakistan are; 1)

Issues of internal instability in Pakistan as terrorist threat but according to Paul Craig Robert these terrorist are the creation of US. 2) Stop Drone attacks in Pakistan but according to US these attacks are successful and need to increase in number of these attacks. 3) Kashmir is a serious issue but US does not intended to resolve this dis-

Indians from Afghanistan, 7) Attacks inside Pakistan by NATO is also an indicator of security threat for Pakistan, Although US apologized but we could not avoid this threat. 8) To get rid of the debt on Pakistan because of Afghanistan war, and to meet the energy needs of Pakistan whether from cooperation with

“

The US government creates terrorists by invading Muslim countries, wrecking infrastructure and killing civilians. It also creates terrorists by installing puppet governments and then uses them to murder and harass their own citizens, that’s exactly what’s happening in Pakistan today. pute between the adversaries of the region of south Asia as Richard Hal brook stated that we will not interfere in the Kashmir dispute. 4) Stoppage of Afghan war is necessary as it enhance the security threats inside the border of Pakistan. 5) There is need to understand why US is not ready to find out the political end of Afghanistan war? 6) Indian presence in Afghanistan is a threat to Pakistan's security and there is need to expel

US or with China, But US is adamant not to cooperate with Pakistan as it did with India in 2005 on the other hand trying to halt cooperation between Pakistan and china on civil nuclear means through NSG. 9) Peace of South Asia Region, Which is not possible according to the US intentions for Muslim countries.10) Socio-economic cooperation agreement formally recognized in previous sessions must be fulfilled.

Now the question is what the US wants from Pakistan through this strategic partnership. First of all US knows the geopolitical importance of Pakistan, a country located in the center of all those states that are considered rival to US. The US wants to isolate Iran. Although US and China are economic partners but on the other hand a rivalry exist because China is one who can be the future hegemony, third and most important Afghanistan. The US is nothing without Pakistan in Afghanistan. History shows that US is not a good partner to Pakistan although Pakistan always shows its loyalty towards it. The counter punch writing and in past wiki leaks document in which a document leaked out of CIA shows that US is unwilling to get the objectives it showed to international community that final peace and promotion of democracy. US wants to achieve its hidden motives by terrorising South Asia of terrorist threats and involve the whole region to fight against those terrorist made by US to grow its military industry. Now there is a need is to adopt self help system and to stand at our own and resolve strategic issues and pressurise US to fulfill our demands. We can pressurise the US to change its policy towards Pakistan. We can do this to secure our sovereign status.

Selecting a new canola variety Need to examine Canada Experience Mohammad Irtiza

T

his year the central bank has announced special financing arrangements for the canola growers. Some of the growers have not understood the potential and the track record. Pakistanis should learn from the Canadian experience, the country often termed the largest canola producer. In Canada every year canola growers have a couple dozen new canola varieties to consider. The decision to add one or two new varieties to their rotation hinges on yield potential, disease management requirements, maturity, lodging resistance and price. According a report by Canola Council of Canada, growers who try new varieties on a couple quarters per year achieve two goals: They keep up with new technology, such as yield advancements and disease tolerance traits, and meanwhile they keep most of their acres in varieties proven to work on their farms. "Today's varieties are very good, but

new varieties have not been tested on your farm under your management," says Doug Moisey, Canola Council of Canada agronomy specialist for central Alberta. "Trying a new variety on 10% to 15% of acres will provide a good first analysis." They may look for specific traits, such as clubroot resistance, sclerotinia resistance or early maturity. And they may want varieties that fit with their weed spectrum and their plan to rotate herbicide tolerant systems. But they also want to see good yield potential, blackleg resistance, lodging resistance and harvestability. For performance comparisons, growers talk to neighbours, retailers, agronomists and company representatives as well as the producers who may have conducted seed com-

pany variety trials. "When asking about trials, find out the treatments used and whether it was in your region," Moisey says. "Also look at data for other locations to get a better

ence between varieties is real. Trials with only a few locations and highly variable results often cannot accurately determine a clear top yielder. In many cases, these trials may need to show differences of 10 per cent or more between varieties before the results are statistically significant. Growers also have a number of o t h e r sources that show how new varieties stack up against their current favourites. Here they are: WCC/RRC: Seed registration trial data from the Western Canada Canola/Rapeseed Recommending Committee compares yield, maturity, lodging, height and blackleg ratings. Growers can get a sum-

In Canada every year canola growers have a couple dozen of new canola varieties to consider. The decision to add one or two new varieties to their rotation hinges on yield potential, disease management requirements, maturity, lodging resistance and price. idea how the varieties perform under different conditions." Moisey reminds growers to check the statistical significance of the data when looking at yield numbers. Trials with many locations and consistency of results can produce results where a 1-2% differ-

mary based on first year private and second year public data. Contact Raymond Gadoua of the Canola Council of Canada. Gadoua reminds growers that rarely would any of these cultivars have been tested in the exact same set of head to head trials. Crop insurance: Alberta and Manitoba publish summaries of crop insurance yield reports by variety and zone. These are based on grower responses, are field by field, and do not include other data such as maturity, lodging and disease resistance. Prairie Canola Variety Trials: PCVT trials did not run in 2010, but 2009 results are available online. Provincial seed guides. Seed associations of Canada have been using PCVT data for their canola comparisons. The staff responsible for compiling the guides looks for alternative third-party sources for their 2011 guides. Seed guides usually come out in December or early January. Last year's guides are online at the addresses above.

Need to address woes of overseas Pakistani investors Tarique Khan Javed

O

verseas Pakistani Investors Forum on behalf of 8 million Overseas Pakistanis remitting nearly US$10 billion per year to the country demands withdrawal of Machine Readable Passport (MRP) condition applied in the Gulf, since 1st September 2010, should be withdrawn till all Overseas Pakistanis are issued MRP. Sudden implementation of the policy, without infrastructure has created a tragic situation for Pakistanis still holding Normal Passports. For example in Doha, Qatar till today, MRP cannot be issued in the absence of relevant personnel, although passport making

machines were installed some 2 years ago. Despite promises, no tangible progress has been made towards giving representation to Overseas Pakistanis in our parliament and Senate. We demand urgent actions in giving at least 6 seats in parliament and 6 seats in Senate to Overseas Pakistanis. Six seats to represent: 1) USA representing 1 million population, 2) Canada and Australia representing 1 million population, 3) UK representing 1 million population, 4) Europe representing 1 million population, 5) Middle East representing 1.2 million population and 6) Far East and Africa representing half a million population. China realized that chang-

ing the entire Communist structure of the Country was difficult and would take a long time to realize. It looked for quick solution of its unemployment problem and decided to create many Hong Kongs within China, enjoying complete freedom for working of market forces, without Government intervention, of any kind. This resulted in the creation of the Six Free Economic Zones. We recommend that in Pakistan Six Free Economic Zones should be established. Thar Coal producing Area should be declared the first Free Economic Zone of Pakistan. This will ensure producing 100,000 MV electricity, sufficient to meet need for next

200 years and create a major industrial area of the world. Following the Example of South Korea in 70's and 80's we demand creation of a mandatory National Investment Fund for Overseas Pakistanis (NIFOP). In which all Overseas Pakistanis, holding Pakistani passport, may be obliged to invest 10 % of their annual saving. The Fund to be managed by a top ranking Fund Manager would be allowed to invest only in Pakistani equity, bond and real estate. Such a Fund will protect returning Pakistanis, like it did to returning South Koreans in the 80's. Overseas Pakistanis suffer a lot due to very weak legal system in the country. Their

main concern is Property Laws. As often their Rent income is stopped by Tenants and they are unable to dislodge them over years. We demand that Banking Courts may be asked to take up others financial dispute including rent and eviction cases even if no Bank is involved in the case. A premium court fee may be charged by these courts for such cases. If Banking Courts cannot do this, Special Financial Dispute Courts may be established on the line of Banking Courts with a deadline to decide any case within 4 months. Appeal against such decision should be restricted and again bond by 4 month rule, as in Banking Courts.


5

Thursday, October 28, 2010

South East Asian stocks

Europe shares hit 2-week closing low; miners slip

Fall back amid QE scepticism; Jakarta off record

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

KSE green ahead of meeting with IMF

10,658.15 10,704.16 46.01 0.43 142.11

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

3,316.09 3,344.12 28.03 0.85 7.15

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

2,698.57 2,715.87 17.30 0.64 0.13

Nawaz Ali

Major Gainers

Symbol UPFL COLG BATA RMPL FZTM

Close

Change

1,050.00 823.89 596.06 1,643.50 415.33

50.00 38.94 28.38 18.50 17.73

Major Losers

Symbol

Close

Change

SAPL 131.92 NESTLE 1,944.94 BOC 78.92 FEROZ 83.96 MFFL 67.26

-6.93 -5.03 -4.09 -3.5 -3.24

Top 5 Volume Leaders

Symbol

Close Vol (mn)

NPL NBP LOTPTA AMTEX JSCL

14.56 68.76 10.17 7.65 10.07

20.21 13.12 13.03 8.18 7.58

Active Issues Plus Minus Unchanged

192 163 30

Sector Updates FERTILISER 000 tonnes

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

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

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

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

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

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

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

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

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

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

NEW YORK: WWE wrestlers Triple H, left, and Kelly Kelly pose photos on the bell podium of the New York Stock Exchange before they ring the opening bell.-Reuters

Narowal COD further delayed to Feb 2011

Hubco profit up by 14.5pc Aamir Abdi KARACHI: Hub Power Company Limited (Hubco) has posted net earnings of Rs1.27 billion against Rs1.1 billion during 1QFY10 showing a surge of 14.52 per cent. According to a notice issued to Karachi Stock Exchange (KSE) company's earning per share remained at Rs1.1 as against Rs0.96 in 1QFY10. This increase in the bottom line is mainly because of currency devaluation and efficiency gains. Turnover for the period went

Ahmed Siddique

up by 14.5 per cent to 25.2 billion from 22.01 billion chiefly owing to the fact that company operated at an average load factor of 76 per cent and an average complex availability (ACA) of 87 per cent. The company sold 2012GWh electricity to Wapda during the period. On the other hand, operating cost hiked by 13.6 per cent due to escalated fuel prices and higher load factor. Gross profit increased by 27.2 per cent to Rs1.92 billion. Other income declined by 57.9 per cent to Rs10 million See # 12 Page 11

Indian shares fall 1.1pc; NTPC, lenders decline MUMBAI: Weak world equities and a fall in financials pack on rate hike worries dragged the Sensex 1.1 per cent lower on Wednesday, its second straight decline. Trading turned choppy a day ahead of the expiry of monthly derivatives contracts on the National Stock Exchange, which also weighed on the market sentiment. State-run utility NTPC fell 3.1 per cent, its biggest single-

NRL profits zoom 99pc

day drop in five months, as it posted nearly flat Septemberquarter net profit. The 30-share BSE index closed 1.07 per cent or 216.02 points lower at 20,005.37, with 22 of its components closing in the red. "The (derivatives) expiry event tomorrow is weighing on the market. The volatility is very high in recent times and indicates trade will stay See # 13 Page 11

KARACHI: National Refinery Limited (NRL) has announced robust financial, said a notice issued to Karachi Stock Exchange (KSE) here on Wednesday. See # 8 Page 11

PTCL earnings down 19pc Ghulam Raza Rajani KARACHI: Pakistan Telecommunication Company Ltd (PTCL) Wednesday declared its financial results for 1QFY11posting net profit of Rs2.08 billion (EPS: Rs0.41) as compared to Rs2.56 billion (EPS: Rs0.50) in the same period last year --a decrease of 19pc in profitability. Sales revenue for the period fell by 4.3 per cent to Rs13.85 billion from Rs14.47 billion in 1QFY10. The marginal decline in revenue was due to increased rate of decline in fixed line telephony mainly due to aggressive price competition See # 9 Page 11

US stocks mid-morning

Wall St falls Nikkei up but weighed by in stimulus Japan bank, Asian shares rethink, TOKYO: Japan's Nikkei aver- find support as investors age ended slightly higher on refrained from selling actively materials Wednesday but off its morning in the midst of the earnings highs as falls in Hong Kong reporting season and the yen weigh and Shanghai shares and weak- drifted down against the dollar ness in Japanese banking stocks prompted profit-taking. The Nikkei ran out of steam in the afternoon as banking shares lost ground, with Mitsubishi UFJ Financial Group at its lowest close level since April 2003 amid uncertainty over new global capital regulations, traders said. Still, the Nikkei managed to

from a 15-year high marked this week, traders said. "The Nikkei struggled to extend gains in the afternoon as Hang Seng shares and other Asian shares dropped. Falls in bank shares depressed the overall tone," said Hideyuki Ishiguro, a strategist at Okasan Securities. See # 14 Page 11

ANNOUNCEMENTS Company Jah.Sidd. Co. Safa Textile Kohinoor Textile Bilal Fibres Indus Motor Company Gadoon TextileXD Karim Cotton Nishat Power Ltd. Arpak Int. Wazir Ali H.B.L.ModarabaXD Hub Power Co.(Consolidated) Hub Power Co.(Unconsolidated) KASB ModarabaXD Altern Energy(Consolidated) Altern Energy Safe Mix Concrete ECOPACK Ltd Shifa Int.Hospitals Cherat Cement Sigma Leasing Pak.Prem Fund Allawasaya Tex.XD F.Credit & Inv Askari Bank Habib Bank Ltd.(Unconsolidated) Habib Bank Ltd.(Consolidated) Asia Insurance Co. Lakson Tobacco KASB Bank Ltd. JS Bank Ltd Habib Metro Bank Unilever Foods Ltd

Period 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) -132.272 0.596 61.882 13.115 577.409 543.305 -0.011 55.365 1.511 -10.843 29.619 1,239.189 1,269.205 9.654 459.622 38.441 -2.436 -17.193 41.011 10.659 4.830 30.395 15.088 3.878 942.634 11,292.826 12,170.219 3.901 767.194 -1,571.627 -404.872 2,138.815 344.650

EPS(Rs) -0.17 0.15 0.35 0.93 7.35 -0.01 0.16 0.38 -1.36 0.75 1.08 1.10 0.34 0.85 0.11 -0.12 -0.75 0.81 0.11 0.16 0.18 18.86 0.06 1.48 11.27 12.01 0.20 12.46 -2.20 -0.66 2.45 55.97

NEW YORK: US stocks fell on Wednesday as investors reined in expectations of how aggressively the US Federal Reserve may move to stimulate the economy. The doubts strengthened the US dollar and pressured commodity prices, which in turn hit materials and energy stocks. Chevron Corp and Exxon Mobil Corp were the biggest weights on the Dow, down 1.8 per cent at $83.59 and 1.7 per cent at $65.42, respectively. See # 10 Page 11

FTSE plunges as ambitions cool on US QE LONDON: Britain's top shares posted their biggest one-day losses in over two months on Wednesday, hit by market concerns that further quantitative easing measures in the United States might be less aggressive than expected. The FTSE 100 was down 61.28 points, or 1.1 per cent, at 5,646.02, its lowest closing level since October 5, adding to the 0.8 per cent loss on Tuesday, with some traders fearing the start of a sizeable retracement. See # 11 Page 11

KARACHI: Stocks bounced back at the Karachi Stock Exchange (KSE) on Wednesday as it closed above 10,700 levels abetted by buying on good corporate results and renewed interest in OGDC ahead of Pakistan-IMF meeting. The benchmark 100-Index closed 46 points up at a level of 10,704 points while it touched a day-high of 10,757 points during the session. KSE 30-Index rose by 29 points and KSE All Share Index by 32 to close at 10,268 and 7,455 points respectively. "Positive activity was witnessed in the earnings announcement session ahead of IMF meeting to discuss next tranche for Pakistan economic support as investors await major earnings announcements

this week", said Ahsan Mehanti, Director Arif Habib Investments. It should be noted that IMF and Pakistani authorities would be meeting to discuss the release of the sixth tranche of an $11 billion emergency loan agreed to in November 2008. Ahsan added that better than expected earnings announcements in power sector and expectation for early approval of leverage products kept the investor sentiment positive throughout the trading session despite concerns over rising economic uncertainty and circular debt issue in energy sector. Trading activities started on a positive note and the market then remained in the grip of bulls as investors took positions on good corporate result announcements mainly by Nishat Power followed by See # 22 Page 11

China, HK slide on banks, commodities HONG KONG/SHANGHAI: Shares in Hong Kong and Shanghai slid on Wednesday as a stronger dollar sparked a selloff in materials and commoditie stocks, while banking shares retreated as investors grew cautious ahead of earnings reports this week. Hong Kong's benchmark Hang Seng index fell 1.9 per cent to 23,164.6 points, its steepest fall in over four months as it pulled back sharply from technically overbought levels. China's key stock index closed down 1.5 per cent at 2,997, slipping below the psychologically important 3,000point level which retail investors had hoped would hold. "It was a combination of things this morning - the report

on the Fed's quantitative easing being less than market expectations, the dollar's jump and the subsequent selloff in commodities," said the head of a regional trading desk at a European bank in Hong Kong. "Volatilty picked up and I think some hedge funds were finally happy to see some of their bearish bets pay off," said the trader. The Wall Street Journal said on Wednesday that the Federal Reserve would probably unveil a programme of US Treasury bond purchases worth "a few hundred billion dollars", but gave no source for the report. Markets had been expecting it to spend around $500 billion or more as it struggles to revive the sputtering US economy. See # 7 Page 11

HBL profit grows up in third quarter Staff Reporter KARACHI: According to notice issued to the Karachi Stock Exchange (KSE) here Wednesday Habib Bank Ltd (HBL) has posted a higher profit after tax of Rs12.170 billion for the third quarter ending Sept 30, 2010. AS per details bank's pre-tax profit increased to Rs119.382 billion as earning per share also improved to Rs12.01 for the period under review against Rs10.21 last year.

DGKC posts lower profit Shiraz Ahmed KARACHI: According to financial results dispatched to Karachi Stock Exchange (KSE), D G Khan Cement Company has posted a lower profit after tax of Rs46.266 million for the quarter ending September 30, 2010. See # 4 Page 11

IMC’s 3Q net decelerates Staff Reporter KARACHI: Indus Motors Company (IMC)) in a notification sent to Karachi Stock Exchange (KSE) has posted a lower profit after tax of Rs577.409 million for the quarter ending Sept 30, 2010. According to the results dispatched to KSE on Wednesday, See # 5 Page 11

Unilever Foods 3Q profit improves Staff Reporter KARACHI: Unilever Pakistan Foods Ltd has posted a higher profit after tax of Rs344.650 million for third quarter ending September 30, 2010. According to financial results sent to Karachi Stock Exchange (KSE) here Wednesday, the earning per share (EPS) jumped to Rs55.97 compared to Rs29.67 in the same period last year. See # 6 Page 11

Dhiyan

GROWTH STOCKS ARE CALLING Mohammd Farid Alam, CEO AKD Securities The bullish momentum is likely to continue due to good economic outlook of the country where the rise in international cotton prices would have a positive impact on GDP as well as exports. Index is therefore expected to cross 11,000 points level soon, while it may touch a high of 11,500 points level by the end of calendar year. Novice investors are advised to wait for dips while veterans can take positions in NBP, NCL, NML, NPL, PAEL, LOTPTA, and GGL, but they are also advised not to sell their current positions right now. Good corporate results and increase in foreign buying would support the market. Corporate earnings don't seem to have taken as big a hit form floods as was expected. Market would remain positive today where NBP would perform well.

Faisal Shaji, Head of Research Standard Capital Securities Market has now came closer to the levels which I was the first one to mention 2-3 weeks earlier and now it is likely that the index would touch 11,000 levels by 2nd week of November mainly due to renewed interest of foreign/local investors in OGDC. Investors should not look at the index levels but eye growth stocks in which investment can be done for 3-6 months. Market is stuck at the resistance level of 10,700 points which shows many stocks like selective oil exploration companies, power stocks, and growth stocks are still worth buying. Our recommendations are LOTPTA, EPCL, GGL. Arrival of US military assistance, positive developments on energy sector deals with regional countries, full-scale operationalisation of projects like Reko Dik, and settlement of circular debt would trigger the market. Buying would continue in the growth stocks today.


6

Thursday, October 28, 2010

Market 142,108,477

Value

4,193,519,991

Trades

67,285

Paid up Cap(mn)

Advanced Declined Unchanged Total

Current High Low Change

192 163 30 385

PE

High Low 1,370.72 1,344.21 Total cos Defaulter cos P/BV (x) ROE (%) 4.20 37.01

Attock PetroleumXDXB 691 4.59 297.79 Attock Refinery 853 17.86 98.06 BYCO Petroleum 3921 - 11.05 Mari Gas Company 735 16.52 122.47 National Refinery XD 800 5.66 227.34 Oil & Gas Development XD 43009 10.48 152.85 Pak Petroleum 11950 7.69 190.69 Pak Oilfields XD 2365 6.17 242.30 Pak Refinery Limited 350 - 78.93 PSO 1715 4.52 266.98 Shell Gas LPG 226 15.77 36.81 Shell Pakistan 685 9.39 183.66

301.50 98.98 11.14 124.66 233.50 155.50 192.65 246.00 80.00 269.00 35.75 184.99

298.00 97.82 10.93 121.60 225.00 152.26 188.50 242.01 77.00 266.65 34.97 182.70

Close Chg 298.30 98.24 10.96 121.89 227.40 154.92 189.21 242.93 77.09 267.02 35.00 183.12

0.51 0.18 -0.09 -0.58 0.06 2.07 -1.48 0.63 -1.84 0.04 -1.81 -0.54

Close Change 1,358.03 7.03 Listed cap Market cap 65,194.15 mn 1,072,135.42 mn Payout (%) Div Yield (%) 68.56 6.04 Last 60 days High Low

Volume 129022 591260 515258 43080 431442 1348623 869788 973735 20018 138002 10658 16515

374.20 102.80 12.87 136.88 233.50 155.50 214.10 251.24 85.90 286.99 40.28 238.00

% Change 0.52 5-Day High 1,358.03 5-Day Low 1,334.82

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 27.32 182.70 330 -

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

20 20B -

Open 1,191.13 Turnover 26,749,227 P/E (x) 7.44 PE

High Low 1,202.49 1,184.31 Total cos Defaulter cos P/BV (x) ROE (%) 2.60 35.00

Open

High

Low

3924 9.95 22.00 68 75.25 9.60 250 10.84 83.01 273 5.56 155.82 1203 7.80 169.27 1996 2.47 1020 5.59 3663 1.66 3277 9.11 176.99 6635 - 13.42 22000 9.70 6785 7.32 108.21 9341 5.71 30.35 725 9.08 12.00 1388 7.13 127.33 360 6.27 25.75 15142 3.63 10.16 74 1.45 1106 1.47 120 1.95 2.50 214 8.91 108.82 551 14.07 13.08 92 - 11.01 90 4.47 38.50

22.90 10.45 82.50 161.50 170.50 2.50 6.06 1.79 178.94 14.42 9.96 108.80 30.52 12.15 127.80 26.48 10.39 1.84 1.55 2.73 109.90 13.79 11.01 38.50

22.11 8.80 78.86 157.05 168.99 2.36 5.50 1.65 176.61 13.41 9.67 107.50 30.18 11.65 126.25 24.50 10.07 1.30 1.40 2.60 107.00 12.50 11.01 37.75

Close Chg 22.48 9.03 78.92 158.03 169.00 2.48 5.88 1.71 177.61 14.12 9.74 107.60 30.24 11.99 126.58 26.48 10.17 1.43 1.45 2.60 108.76 12.94 11.01 37.75

0.48 -0.57 -4.09 2.21 -0.27 0.01 0.29 0.05 0.62 0.70 0.04 -0.61 -0.11 -0.01 -0.75 0.73 0.01 -0.02 -0.02 0.10 -0.06 -0.14 0.00 -0.75

Close 1,189.07 Listed cap 52,251.88 mn Payout (%) 48.81

Change -2.05 Market cap 267,257.32 mn Div Yield (%) 6.56

Last 60 days High Low

Volume 3300 2601 9761 16980 3081 33331 3364350 1563420 1030804 4361015 381638 210193 570629 301680 110953 280 13026142 60211 215092 324 13450 1878807 450 5700

26.49 16.49 87.99 173.99 183.25 2.98 6.06 2.20 190.80 15.20 12.05 112.60 30.90 13.85 131.40 34.12 10.75 3.24 1.74 3.80 128.01 13.79 17.88 47.21

% Change -0.17 5-Day High 1,200.05 5-Day Low 1,189.07

2009 Div BR (%) (%)

2010 Div BR (%) (%)

21.15 8.80 5 66.90 90 15 154.27 125 155.38 40 10B 20 1.78 3.20 1.28 165.60 6010B 40R 20 10.62 - 27.5R 9.02 102.96 131.5 10B 75 26.59 40 - 17.5 7.41 109.50 80 55 21.00 15 5 6.75 5 0.80 1.16 1.80 104.56 75 25 7.67 9.22 10 10B 37.00 50 50

10R 5B -

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,122.22 Turnover 143,709 P/E (x) 5.65

High Low 1,139.14 1,085.44 Total cos Defaulter cos P/BV (x) ROE (%) 0.42 7.47

Close 1,110.95 Listed cap 1,186.83 mn Payout (%) 25.28

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

707 411

6.17

17.82 39.68

18.00 40.50

17.32 38.31

17.32 -0.50 39.99 0.31

142773 916

Century Paper Security Paper

Open 734.66 Turnover 82,964 P/E (x) 5.72 Company

Change -11.27 Market cap 3,078.23 mn Div Yield (%) 4.47

Last 60 days High Low 22.70 48.75

17.31 38.10

% Change -1.00 5-Day High 1,147.10 5-Day Low 1,110.95

2009 Div BR (%) (%) - 425R 50 -

Paid up Cap(mn)

Pak Int Cont.Terminal XD 1092

Open 928.10 Turnover 100,852 P/E (x) 2.93

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

PE

565 3.38 675 555 6.41 1199 4.52 785 10.28

Open 24.81 2.85 13.93 46.29 9.00

High 25.19 3.29 14.93 46.50 9.39

High Low 946.81 922.25 Total cos Defaulter cos P/BV (x) ROE (%) 0.97 33.10 Low 24.85 2.75 14.40 45.50 9.00

Close Chg 24.95 2.89 14.93 46.40 9.05

0.14 0.04 1.00 0.11 0.05

Close 934.81 Listed cap 3,596.11 mn Payout (%) 30.91

Change 6.71 Market cap 8,946.01 mn Div Yield (%) 10.57

Last 60 days High Low

Volume 1886 11852 45692 37441 3981

28.50 3.39 16.75 70.71 10.80

23.75 1.65 12.25 45.50 8.00

2009 Div BR (%) (%) 10

30B -

Low

Close Chg

Volume

Last 60 days High Low

7.41

70.55

74.07

70.01

74.07

82913

87.86

Open 1,106.15 Turnover 400,901 P/E (x) 4.04 Paid up Cap(mn)

PE

Open

High

Low

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

68.65 154.90 109.90 32.55 1.65 154.87 23.65 4.44 11.90 237.50 76.90 20.94

67.01 153.00 103.75 32.45 1.46 149.01 23.50 4.12 11.51 230.60 73.60 20.51

60.05

Close Chg 67.89 153.61 109.40 32.55 1.48 152.38 23.50 4.23 11.80 231.53 73.80 20.94

-0.11 0.52 0.20 1.55 0.00 -0.12 -0.50 -0.17 0.08 -1.07 -0.04 -0.06

Close 1,103.72 Listed cap 6,768.53 mn Payout (%) 20.42

High Low 991.46 965.25 Total cos Defaulter cos P/BV (x) ROE (%) 0.55 7.10

Close 971.84 Listed cap 54,792.74 mn Payout (%) 19.04

% Change -0.20 5-Day High 997.78 5-Day Low 971.84

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1828 866 182

5.02 -

3.19 63.61 16.60

3.20 64.20 17.34

3.10 62.70 15.70

3.13 -0.06 63.00 -0.61 15.77 -0.83

25275 102154 26285

4.20 71.80 20.00

2.80 60.30 14.01

50 -

20B -

956 26.84 982 11.54 948 -

11.42 1.65 1.70

12.42 1.69 2.00

11.00 1.50 1.95

11.81 0.39 1.50 -0.15 2.00 0.30

418124 5503 2097

12.50 2.74 3.90

8.90 1.30 1.02

-

-

-

-

Dewan Cement DG Khan Cement Ltd

3574 3651 37.15

1.52 26.72

1.63 27.10

1.52 26.60

1.52 0.00 26.75 0.03

103611 1366173

2.20 28.30

1.30 23.02

-

20R

-

20R

EMCO Ind Fauji Cement Flying Cement Ltd

350 6933 14.88 1760 -

2.56 5.00 1.90

3.26 5.05 2.00

2.40 4.88 1.85

2.87 0.31 4.91 -0.09 1.86 -0.04

16063 269903 71767

4.70 5.50 2.30

2.11 4.51 1.74

-

-

-

-

2.80 3.38 0.60 6.02 2.92

3.60 3.39 1.08 6.18 3.05

2.31 3.02 0.60 6.00 2.79

3.01 3.02 0.74 6.00 2.82

0.21 -0.36 0.14 -0.02 -0.10

2564 403 663975 18706 4361988

5.00 7.50 2.00 6.60 3.65

1.91 2.11 0.25 5.50 2.60

-

-

-

-

3234 6.52 72.57 5261 1.35 2.90 2228 8.02 361 8.00 7981994.00 20.80

73.50 3.00 8.30 8.90 20.00

72.30 2.85 7.84 8.75 19.90

72.57 2.90 8.05 8.80 19.94

0.00 0.00 0.03 0.80 -0.86

939123 57677 22514 115 500

74.00 3.54 8.58 11.19 22.24

62.60 2.51 6.80 7.56 17.74

40 -

-

40 -

50R

Company Al-Abbas Cement Attock Cement XD Berger Paints Cherat Cement Dadabhoy Cement Dandot Cement

Frontier Ceramics Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement XD Maple Leaf Cement Pioneer Cement Shabbir Tiles Thatta Cement

77 2319 32 1288 13126

-

2009 Div BR (%) (%)

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

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 907.97 Turnover 50,112 P/E (x) 2.61 Company

Paid up Cap(mn)

PE

Open

High

High Low 919.84 904.18 Total cos Defaulter cos P/BV (x) ROE (%) 1.15 43.91 Low

Close Chg

Cherat PapersackXDXB 115 1.72 45.96 48.25 48.25 48.25 ECOPACK Ltd 230 2.37 2.19 2.08 2.15 Ghani GlassXDXB 1067 4.40 47.71 48.19 47.53 47.91 MACPAC Films 389 2.65 2.95 2.20 2.95 Packages Ltd 844 53.35 105.21 106.49 104.00 104.04 Siemens Engineering 82 10.25 1239.67 1260.00 1240.00 1242.36 Tri-Pack Films 300 7.45 102.33 102.25 102.00 102.11

Volume 4302 6066 2860 200 234202 483 702 32050 5182 110608 4145 101

Last 60 days High Low 76.98 205.00 122.51 33.15 2.09 155.99 27.35 6.30 13.50 287.00 89.99 27.58

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

Open 1,500.34 Turnover 177,774 P/E (x) 32.63 Company Adam Sugar AL-Noor Sugar Chashma Sugar Clover Pakistan XD Dewan Sugar Habib Sugar Ismail Ind XD J D W Sugar Kohinoor Sugar Mehran Sugar Mirza Sugar Mithchells Fruit National Foods XD Noon Pakistan XD Noon Sugar Pangrio Sugar Premier Sugar Quice Food Rafhan Maize Shahmurad Sugar Shakarganj Mills Tandlianwala

Paid up Cap(mn) 58 186 287 94 365 600 505 490 109 143 141 50 414 48 165 109 38 107 92 211 695 1177

PE

Open

High

High Low 1,519.72 1,461.95 Total cos Defaulter cos P/BV (x) ROE (%) 9.89 30.30 Low

Close Chg

0.74 13.55 13.95 13.95 13.95 4.36 42.80 42.95 41.30 42.94 0.76 9.25 9.48 8.50 9.40 8.37 53.90 51.33 51.21 51.21 1.80 1.80 1.52 1.80 6.13 30.31 30.00 29.63 29.75 13.00 76.75 76.45 73.00 76.45 2.61 79.03 79.40 77.50 77.84 4.33 4.00 3.72 3.75 3.26 58.99 58.75 57.90 58.12 0.31 4.80 5.00 4.70 5.00 8.17 70.50 70.23 67.00 67.26 16.04 42.96 43.00 42.75 43.00 9.54 21.60 20.65 20.52 20.52 - 12.95 13.39 13.00 13.25 0.41 5.86 5.79 5.00 5.00 6.44 36.25 35.57 34.45 35.10 2.21 2.25 2.25 2.25 2.60 1625.00 1650.00 1600.00 1643.50 16.30 11.25 11.45 11.25 11.25 5.05 5.35 4.60 4.72 295.73 31.17 32.72 32.45 32.53

0.40 0.14 0.15 -2.69 0.00 -0.56 -0.30 -1.19 -0.58 -0.87 0.20 -3.24 0.04 -1.08 0.30 -0.86 -1.15 0.04 18.50 0.00 -0.33 1.36

Close 1,500.54 Listed cap 11,335.33 mn Payout (%) 30.57

Ados Pak

Volume 2527 40539 2900 1697 766 183 1500

Change -0.85 Market cap 33,607.03 mn Div Yield (%) 5.96

Last 60 days High Low 51.05 34.00 2.86 1.70 61.99 45.75 4.50 1.60 123.00 98.00 1260.00 1040.01 105.74 91.00

% Change -0.09 5-Day High 917.28 5-Day Low 897.47

2009 Div BR (%) (%)

2010 Div BR (%) (%)

30 32.5 900 100

20 25 900 -

10B -

25B 10B -

Volume

Last 60 days High Low

103 14.03 10.50 4001 45.99 39.25 10224 11.40 8.00 263 54.25 33.33 697 2.90 1.11 108679 32.25 25.00 745 77.70 53.64 3429 79.60 60.10 1002 8.50 2.80 720 59.25 48.50 6000 5.70 3.55 245 76.00 61.50 400 65.29 39.01 2810 32.06 18.95 1130 13.39 10.20 620 7.00 4.00 2000 43.60 32.50 7000 3.40 1.60 154 1650.00 1229.00 5525 11.90 7.40 4417 6.40 3.02 17300 35.50 22.90

Open 1,149.96 Turnover 1,039,457 P/E (x) 3.00 Company Pak Elektron Tariq Glass Ind

High Low 1,175.53 1,145.67 Total cos Defaulter cos P/BV (x) ROE (%) 0.32 10.64

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

1174 231

3.14 2.81

14.16 17.01

14.94 17.90

14.15 17.00

14.68 0.52 17.26 0.25

Close 1,163.87 Listed cap 3,763.71 mn Payout (%) 6.27

Paid up Cap(mn) 66

PE

Open

3.24

15.96

High

Low

Close Chg

16.00

15.02

15.90 -0.06

Volume

Last 60 days High Low 14.62

2010 Div BR (%) (%)

1014

21.96

20

-

-

-

AL-Ghazi Tractor Ghandhara Ind Hinopak Motor

215 213 124

4.90 201.98 2.11 13.33 - 130.09

204.95 201.25 204.50 13.50 13.00 13.39 136.59 136.59 136.59

2.52 0.06 6.50

3910 19001 542

227.45 19.35 138.45

200.00 400 11.29 108.11 17.15

-

150 -

-

KSB Pumps Millat Tractors XB

132 366

8.68 73.55 6.23 480.87

75.89 72.00 72.50 -1.05 489.00 482.00 486.16 5.29

201 85109

89.55 597.90

72.00 390.00

25B

650

25B

35 450

% Change -0.22 5-Day High 1,123.44 5-Day Low 1,103.72

40 100 80 15 50 100 5 -

90 100 25 60 20 150 10

20B 30B 20B

20B 20B

2009 Div BR (%) (%) 10 40 35 15 40 35 20 50 30 900 15 -

25B 30B 25B 10B 10B -

% Change 0.01 5-Day High 1,500.54 5-Day Low 1,482.95 2010 Div BR (%) (%) 15 17.5 110R 0 12.5R 25 10B 12 12 600 -

RSI (14-day)

58.70

Total Assets (Rs in mn)

1,151.84

MA (10-day)

11.07

Total Equity (Rs in mn)

852.00

MA (100-day)

10.29

Revenue (Rs in mn)

206.65

MA (200-day)

11.71

Interest Expense

1st Support

11.15

Loss after Taxation

(69.96)

0.00

2nd Support

10.75

EPS 09 (Rs)

(1.530)

1st Resistance

11.90

Book value / share (Rs)

2nd Resistance

12.25

PE 10 E (x)

18.63 6.47

Pivot

11.50

PBV (x)

0.62

CENI closed up 0.57 at 11.51. Volume was 1,510 per cent above average (trending) and Bollinger Bands were 3 per cent narrower than normal. The company's profit after taxation stood at Rs40.837 million which translates into an Earning Per Share of Rs0.89 for the half year of current calendar year (1HCY10). CENI is currently 2.7 per cent below its 200-day moving average and is displaying an upward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into CENI (mildly bullish). Trend forecasting oscillators are currently bullish on CENI.

Cherat Cement Company Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

57.34

Total Assets (Rs in mn)

4,743.51

MA (10-day)

11.10

Total Equity (Rs in mn)

2,268.40

MA (100-day)

10.45

Revenue (Rs in mn)

4,567.41

MA (200-day)

11.31

Interest Expense

114.36

1st Support

11.08

Profit after Taxation

159.29

2nd Support

10.33

EPS 09 (Rs)

1.667

1st Resistance

12.50

Book value / share (Rs)

23.73

2nd Resistance

13.17

PE 10 E (x)

Pivot

11.75

PBV (x)

0.50

CHCC closed up 0.39 at 11.81. Volume was 1,366 per cent above average (trending) and Bollinger Bands were 5 per cent wider than normal. The company's loss after taxation stood at Rs13.755 million which translates into a Loss Per Share of Rs0.14 for the year ended FY10. CHCC is currently 4.2 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into CHCC (bullish). Trend forecasting oscillators are currently bullish on CHCC.

Soneri Bank Limited

Volume

Last 60 days High Low

1033047 15.85 6380 19.12

12.17 14.50

2009 Div BR (%) (%) -

10B -

% Change 1.21 5-Day High 1,163.87 5-Day Low 1,137.44 2010 Div BR (%) (%) 17.5

10B -

PERSONAL GOODS Performance of SR Personal Goods Index Open 943.83 Turnover 19,798,223 P/E (x) 6.17 Paid up Cap(mn)

PE

High Low 963.33 937.52 Total cos Defaulter cos P/BV (x) ROE (%) 0.53 8.64

Open

High

Low

Ali Asghar Textile 222 0.43 0.96 AL-Qadir Textile XD 76 1.20 3.65 Amtex Limited XD 2415 2.05 7.15 Artistic Denim XD 840 5.03 19.87 Azam TextileSPOT 133 0.55 2.94 Azgard Nine 4493 288.00 11.61 Bannu Woolen XD 76 1.00 11.36 Bata (Pak) 76 4.94 567.68 Bilal Fibres 141 0.43 1.06 Blessed Tex Mills XD 64 0.70 47.50 Brothers Textile 98 0.39 Chakwal Spinning XD 400 0.89 1.46 Chenab Limited 1150 3.45 Colgate Palm 316 30.93 784.95 Colony Mills Ltd 2442 2.78 2.95 D S Ind Ltd 600 1.80 Dawood Lawrencepur 514 46.94 38.04 Dewan Khalid Textile 57 1.25 Din TextileXDXB 204 1.29 24.50 Ellcot Spinning XD 110 0.64 20.14 Faisal Spinning XD 100 0.73 29.99 Fazal Textile XD 62 3.31 397.60 Gadoon Textile XD 234 0.46 40.40 Gulistan SpinningSPOT 146 1.40 6.57 Gulshan SpinningXDXB 185 1.35 7.38 Hajra Textile 138 0.35 Hira Txt.Mills Ltd.SPOT 716 1.32 4.54 Ibrahim Fibres XD 3105 3.47 37.16 Indus Dyeing XD 181 3.27 243.31 Int Knitwear XD 32 5.77 10.48 Khalid Siraj 107 0.77 Kohinoor Ind 303 1.50 Kohinoor Spinning XD 1300 1.01 1.15 Kohinoor Textile 1455 3.84 5.37 Maqbool Textile XD 168 1.74 8.25 Mian Textile 221 0.43 Nagina Cotton 187 0.72 14.55 Nishat (Chunian)SPOT 1586 2.94 22.90 Nishat Mills XD 3516 4.50 52.90 Pak Synthetic 560 7.08 6.70 Premium Textile XD 62 0.91 26.94 Prosperity XD 185 1.01 13.55 Ravi Textile 250 4.44 1.72 Reliance Weaving 308 0.74 9.70 Rupali Poly XD 341 4.29 33.35 Saif Textile 264 1.49 4.51 Sally TextileSPOT 88 0.36 5.73 Service Ind 120 5.93 231.73 Shahpur Textile 140 0.97 0.90 Shahtaj Textile XD 97 - 15.61 Suraj Cotton XD 180 1.09 29.90 Taj Textile 334 0.59 Tata Textile XD 173 0.18 19.61 Thal LimitedXDXB 307 3.87 91.54 Treet Corp 418 10.12 49.86 Yousuf Weaving 400 7.41 1.10 Zil Limited XD 53 3.08 46.00

1.05 4.64 7.95 20.18 3.00 11.92 11.90 596.06 2.00 49.87 0.39 1.39 3.59 824.15 3.00 1.89 39.91 1.25 25.00 21.00 31.48 417.48 42.42 6.99 7.45 0.98 4.73 38.01 255.47 10.99 0.94 1.64 1.35 5.67 9.25 0.70 15.00 23.55 53.28 6.51 28.20 14.09 1.80 10.00 34.50 4.99 5.75 243.31 0.90 16.00 30.90 0.50 19.50 91.50 50.35 1.30 46.50

0.99 4.10 7.24 19.90 2.95 11.45 11.45 585.00 1.00 45.25 0.39 0.71 3.30 780.00 2.90 1.76 37.00 1.25 24.00 20.60 29.51 400.00 40.15 6.36 6.75 0.75 4.37 37.25 231.15 10.90 0.74 1.50 0.95 5.20 7.50 0.45 14.05 22.16 52.30 6.51 28.19 13.10 1.70 9.00 32.32 4.00 5.02 225.11 0.18 16.00 29.81 0.50 19.00 90.00 48.50 1.19 46.00

% Change 0.94 5-Day High 1,557.72 5-Day Low 1,478.27

2009 Div BR (%) (%)

-

2010 Div BR (%) (%)

Change 13.91 Market cap 5,552.62 mn Div Yield (%) 2.09

Close Chg

Close 953.77 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change 9.94 Market cap 121,837.35 mn Div Yield (%) 2.71

Last 60 days High Low

1.02 4.64 7.65 20.00 3.00 11.52 11.45 596.06 1.61 46.21 0.39 1.36 3.31 823.89 3.00 1.80 39.90 1.25 24.99 20.96 29.51 415.33 42.42 6.36 7.45 0.96 4.58 37.55 247.19 10.90 0.74 1.58 1.11 5.37 9.22 0.50 14.14 23.17 52.45 6.51 28.20 13.21 1.73 9.69 34.15 4.38 5.54 230.41 0.70 16.00 30.50 0.50 19.00 90.63 49.06 1.26 46.00

0.06 0.99 0.50 0.13 0.06 -0.09 0.09 28.38 0.55 -1.29 0.00 -0.10 -0.14 38.94 0.05 0.00 1.86 0.00 0.49 0.82 -0.48 17.73 2.02 -0.21 0.07 0.61 0.04 0.39 3.88 0.42 -0.03 0.08 -0.04 0.00 0.97 0.07 -0.41 0.27 -0.45 -0.19 1.26 -0.34 0.01 -0.01 0.80 -0.13 -0.19 -1.32 -0.20 0.39 0.60 -0.09 -0.61 -0.91 -0.80 0.16 0.00

7755 299 8178143 14511 17502 2088311 5601 5074 114389 16086 237 4072 6007 4638 12201 8242 343 122 2014 584 3197 358 37731 1500 2902 1100 474531 63022 7562 5002 1021 2607 23456 326 1553 9295 6204 5234076 2830305 396 801 1018 34202 464 1001 6009 12520 39502 11281 401 204 1000 33598 32536 379706 10001 40865

2.21 8.40 20.45 24.05 3.45 12.50 14.00 596.06 2.00 52.05 1.50 2.59 4.61 824.15 4.50 2.49 50.35 1.90 30.90 25.45 34.95 417.48 48.30 8.13 10.30 0.99 4.88 39.00 269.50 10.99 1.99 1.97 2.00 6.30 11.55 0.98 17.50 23.55 54.27 7.90 30.90 21.47 4.69 12.00 36.75 5.44 6.20 255.29 1.90 21.90 37.50 0.80 21.42 112.80 52.14 1.90 48.75

0.70 2.50 6.71 17.55 1.35 8.55 7.50 436.00 0.55 40.80 0.10 0.70 2.93 615.00 2.23 1.44 37.00 0.26 20.80 17.21 24.55 303.00 33.80 5.00 5.31 0.13 2.52 34.05 205.00 7.00 0.18 1.01 0.56 4.00 3.25 0.01 12.00 14.64 40.81 5.16 25.71 12.51 1.38 6.91 31.35 2.01 2.74 176.00 0.18 14.75 29.30 0.34 14.00 88.60 37.20 0.73 33.00

PHARMA AND BIO TECH Change 14.28 Market cap 31,877.21 mn Div Yield (%) 16.27

40

Fundamental Highlights As on Dec 31, 2009

Technical Analysis

HOUSEHOLD GOODS

Performance of SR Pharma and Bio Tech Index

Close 1,538.54 Listed cap 1,336.62 mn Payout (%) 131.49

2010 Div BR (%) (%)

Performance of SR Household Goods Index

INDUSTRIAL ENGINEERING High Low 1,548.39 1,526.40 Total cos Defaulter cos P/BV (x) ROE (%) 3.07 38.02

% Change 3.73 5-Day High 762.05 5-Day Low 723.99

2009 Div BR (%) (%)

Change 0.20 Market cap 193,581.24 mn Div Yield (%) 0.94

Performance of SR Industrial Engineering Index Open 1,524.26 Turnover 109,888 P/E (x) 8.08 Company

2.29 -0.22 0.20 0.30 -1.17 2.69 -0.22

Close 907.13 Listed cap 3,043.31 mn Payout (%) 15.55

20B

Century Insurance Company Limited

FOOD PRODUCERS

Company

Change -1.94 Market cap 69,306.73 mn Div Yield (%) 2.44

-

Change -2.43 Market cap 40,210.30 mn Div Yield (%) 5.05

Performance of SR Construction and Materials Index Open 973.77 Turnover 8,474,565 P/E (x) 7.81

2009 Div BR (%) (%)

Alert ! Unusual Movements

Performance of SR Food Producers Index

20B -

CONSTRUCTION AND MATERIALS

3.52

High Low 1,129.50 1,093.94 Total cos Defaulter cos P/BV (x) ROE (%) 1.03 25.35

Agriautos Ind XD 144 5.14 Atlas Battery 101 5.79 Atlas Honda 626 7.62 Baluchistan Wheels Ltd.XD 133 6.12 Dewan Motors 890 Exide (PAK) 56 4.36 General Tyre 598 6.44 Ghandhara Nissan 450 Honda Atlas Cars 1428 Indus Motors 786 5.28 Pak Suzuki 823 11.75 Sazgar EngineeringXDXB 150 3.91

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

Change 27.39 Market cap 13,267.98 mn Div Yield (%) 1.94

High

-

% Change 0.72 5-Day High 937.93 5-Day Low 928.10

Close 762.05 Listed cap 3,242.17 mn Payout (%) 11.08

Performance of SR Automobile and Parts Index

2010 Div BR (%) (%) 50

High Low 762.05 729.49 Total cos Defaulter cos P/BV (x) ROE (%) 1.46 25.53

Open

INDUSTRIAL METALS AND MINING

Company

16,828.65 16,959.31 16,792.50 h26.68

PE

Performance of SR Industrial Metals and Mining Index

Paid up Cap(mn)

KMI 30 Index Current High Low Change

10,268.94 10,326.23 10,239.39 h29.55

AUTOMOBILE AND PARTS

Company

CHEMICALS Performance of SR Chemicals Index

Company

Current High Low Change

INDUSTRIAL TRANSPORTATION

Low

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

KSE 30 Index

7,455.00 7,490.18 7,422.20 h32.66

Performance of SR Industrial Transportation Index

High

Paid up Cap(mn)

Current High Low Change

OIL AND GAS

Open

Company

All Share Index

10,704.16 10,758.01 10,657.10 h46.01

Performance of SR Oil and Gas Index Open 1,351.00 Turnover 4,572,143 P/E (x) 11.34 Company

KSE 100 Index

Symbols

Volume

Open 873.86 Turnover 56,505 P/E (x) 6.44 Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) Otsuka Pak XD Sanofi-Aventis Searle Pak XD

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

PE

Open

8.74 96.95 6.34 87.46 12.52 71.10 6.92 24.89 6.82 32.00 10.49 138.85 5.39 62.06

High

High Low 884.89 856.95 Total cos Defaulter cos P/BV (x) ROE (%) 1.44 22.31 Low

Close Chg

100.00 96.55 99.78 88.00 83.09 83.96 71.50 69.00 69.63 25.50 24.30 24.99 32.49 30.50 30.55 132.05 131.91 131.92 62.98 62.01 62.84

2.83 -3.50 -1.47 0.10 -1.45 -6.93 0.78

Close 870.57 Listed cap 3,904.20 mn Payout (%) 44.54

Volume 22059 15277 8420 1216 501 225 8805

20 120 7.5 115 7.5 7.5 15 15 20 12.5 7.5 20 40 200 20 15 20 40

77.00 83.09 65.00 22.10 27.50 115.90 53.36

2009 Div BR (%) (%) 120 10 50 25 15 70 15

2010 Div BR (%) (%)

10 30 20 7.5 20 50 5 15B 5 20 35 50 - 100 70 10B 10 10B 10 10 20 6 5 - 22.5 - 20SD 50R 15 25 50 30 - 25SD 40 10 45 50 25 20B 80 10B 35

Change -3.28 Market cap 28,986.29 mn Div Yield (%) 6.92

Last 60 days High Low 100.00 124.00 82.50 25.79 33.60 139.50 64.19

2009 Div BR (%) (%)

% Change 1.05 5-Day High 953.77 5-Day Low 925.38

20B 15B

10B 20B 45R 20B -

% Change -0.38 5-Day High 884.49 5-Day Low 863.27 2010 Div BR (%) (%) 20 30

20B -

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

79.17

Total Assets (Rs in mn)

95,310.27

MA (10-day)

6.57

Total Equity (Rs in mn)

7,803.20

MA (100-day)

6.57

Revenue (Rs in mn)

9,337.28 6,602.78

MA (200-day)

7.83

Interest Expense

1st Support

6.96

Profit after Taxation

2nd Support

6.38

EPS 09 (Rs)

0.290

1st Resistance

7.98

Book value / share (Rs)

15.55

2nd Resistance

8.42

PE 10 E (x)

Pivot

7.40

PBV (x)

145.35

0.48

SNBL closed up 0.66 at 7.50. Volume was 2,464 per cent above average (trending) and Bollinger Bands were 51 per cent wider than normal. The company's loss after taxation stood at Rs186.353 million which translates into a Loss Per Share of Rs0.32 for the half year of current calendar year (1HCY10). SNBL is currently 4.2 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into SNBL (bullish). Trend forecasting oscillators are currently bullish on SNBL. Momentum oscillator is currently indicating that SNBL is currently in an overbought condition.

Hayderi Construction Company Limited

Fundamental Highlights As on Jun 30, 2009

Technical Analysis RSI (14-day)

43.95

Total Assets (Rs in mn)

26.22

MA (10-day)

0.77

Total Equity (Rs in mn)

18.45

MA (100-day)

1.03

Revenue (Rs in mn)

MA (200-day)

0.95

Interest Expense

1st Support

0.52

Loss after Taxation

2nd Support

0.32

EPS 09 (Rs)

1st Resistance

1.00

Book value / share (Rs)

2nd Resistance

1.28

PE 10 E (x)

Pivot

0.80

PBV (x)

0.001 0.00 (0.05) (0.008) 2.88 0.26

HADC closed up 0.14 at 0.74. Volume was 2,420 per cent above average (trending) and Bollinger Bands were 24 per cent wider than normal. The company's loss after taxation stood at Rs0.236 million which translates into a Loss Per Share of Rs0.04 for the year ended FY10. HADC is currently 22.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into HADC (mildly bullish). Trend forecasting oscillators are currently bearish on HADC.

BOOK CLOSURES Company

From

To

Atlas Bank D S Industries Gulshan Spinning Mills Masood Textile Mills Namco Indome Fund 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 Latif Jute Mills Mustehkam Cement Nishat (Chunian) Nishat (Chunian) NVCCP Quetta Textile Mills Sally Textile Mills Azam Textile Mills Kohinoor Industries Kohinoor Power Company

28-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 29-Oct 29-Oct 29-Oct 29-Oct 29-Oct 29-Oct 30-Oct 30-Oct 30-Oct

05-Nov 02-Nov 30-Oct 05-Nov 29-Oct 03-Nov 30-Oct 02-Nov 05-Nov 05-Nov 05-Nov 31-Oct 31-Oct 04-Nov 05-Nov 05-Nov 04-Nov 04-Nov 05-Nov 12-Nov 05-Nov 05-Nov 05-Nov

D/B/R 10,20B 15 10,10B 10 10 10 15 15 20 10 7.5 -

Spot AGM/Date 20-Oct 20-Oct 20-Oct 21-Oct 21-Oct 21-Oct 21-Oct 21-Oct 21-Oct 21-Oct 22-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 05-Nov 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct 30-Oct

INDICATIONS # Extraordinary General Meeting

OTHER SECTORS Symbols

Open

TRG Pakistan Ltd. Murree BreweryXDXB Grays of Cambr.XD Lakson Tobacco Pak Tobacco Shifa Int.Hospitals Eye Television PIAC(A) AKD Capital Pace (Pak) Ltd Netsol TechnolXD

4.09 73.85 45.82 341 112.5 29.44 21 2.24 55.98 3.15 18.34

High 4.21 75 47.99 344 112.51 30.8 21.99 2.3 58.77 3.18 18.6

Low Close 4.05 73 43.75 337.01 112.51 27.97 19.95 2.16 55 3.06 18.3

4.09 73 46.9 339.34 112.51 28 21.77 2.24 58.59 3.14 18.35

Change 0 -0.85 1.08 -1.66 0.01 -1.44 0.77 0 2.61 -0.01 0.01

Vol 1494980 1827 2079 294 1410 1129 8131 13234 13167 346303 296920


7

Thursday, October 28, 2010

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,134.70 Turnover 1,823,831 P/E (x) 6.13 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 1,155.18 1,123.15 Total cos Defaulter cos P/BV (x) ROE (%) 0.79 12.84

PE

Open

High

Low

Close Chg

4.53 9.05 1.06 -

92.17 19.18 2.36 2.67 3.84

92.00 19.49 2.50 2.74 3.97

92.00 19.00 2.30 2.63 3.70

92.00 19.01 2.46 2.65 3.80

-0.17 -0.17 0.10 -0.02 -0.04

Close 1,127.18 Listed cap 50,077.79 mn Payout (%) 62.56

Last 60 days High Low

Volume 2322 1191144 322423 307942 283212

Change -7.52 Market cap 77,830.01 mn Div Yield (%) 10.21

120.61 19.77 2.85 2.99 5.85

90.00 17.32 1.80 2.30 3.60

% Change -0.66 5-Day High 1,156.57 5-Day Low 1,127.18

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

-

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

Atlas Insurance Central Insurance XB Century Insurance EFU General Ins. XB Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Premier Insurance Reliance Insurance XB Silver Star Insurance

369 5.16 279 5.83 457 7.19 1250 35.00 400 2.65 718 14.93 791 9.99 3000 303 5.11 252 4.39 253 1.75

Paid up Cap(mn)

Company

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

PE

Open

High

Low

3426 22.73 198 11572 6.22 1560 7932 1695 5.52 126 2.41 8803 4.86 3673 3541 23.48 178 191 3.48 1367 150 -

11.00 0.95 34.01 1.68 2.14 23.35 4.80 40.48 12.69 13.56 0.99 18.90 2.14 0.95

10.10 1.00 34.11 1.80 2.20 23.00 4.84 40.70 13.69 14.56 0.90 19.50 2.19 0.90

10.00 0.87 33.88 1.68 2.12 22.19 4.13 39.90 12.32 13.10 0.90 19.20 2.05 0.81

Close 1,184.93 Listed cap 95,369.29 mn Payout (%) 104.13

Change -3.45 Market cap 97,843.46 mn Div Yield (%) 8.00

% Change -0.29 5-Day High 1,192.09 5-Day Low 1,172.88

Close Chg

Volume

Last 60 days High Low

2009 Div BR (%) (%)

10.00 0.87 33.95 1.70 2.14 22.43 4.84 39.96 13.69 14.56 0.90 19.50 2.07 0.89

4500 951 1132898 288231 245516 2922 133 221129 7157624 20207520 2000 1010 806798 5002

12.25 1.45 37.24 2.25 2.50 26.50 6.70 43.35 13.69 14.56 1.69 23.49 3.07 1.58

33.5 45 64.5 20 3

-1.00 -0.08 -0.06 0.02 0.00 -0.92 0.04 -0.52 1.00 1.00 -0.09 0.60 -0.07 -0.06

7.51 0.51 32.75 0.70 1.92 22.19 3.90 38.35 9.50 9.25 0.23 18.70 2.05 0.33

31R -

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

GAS WATER AND MULTIUTILITIES Performance of SR Gas Water and Multiutilities Index Open 1,734.41 Turnover 3,024,138 P/E (x) 11.07 Company Sui North Gas Sui South GasXDXB

High Low 1,820.63 1,719.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.26 11.41

Close 1,820.63 Listed cap 12,202.80 mn Payout (%) 66.79

Change 86.23 Market cap 38,988.08 mn Div Yield (%) 6.03

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 8390

9.59 3.88

30.68 24.19

32.21 25.39

30.75 23.80

32.21 1.53 25.39 1.20

1999406 1024732

33.40 30.70

% Change 4.97 5-Day High 1,820.63 5-Day Low 1,654.11

2009 Div BR (%) (%)

25.00 16.00

-

-

2010 Div BR (%) (%) 20 15

25B

BANKS Performance of SR Banks Index Open 1,032.69 Turnover 28,440,652 P/E (x) 7.25 Paid up Cap(mn)

Company

PE

Open

Allied Bank Limited 7821 5.47 55.34 Askari Bank 6427 7.54 16.35 Atlas Bank 5001 1.95 Bank Alfalah 13492 12.92 9.79 Bank AL-Habib 7322 6.90 32.01 Bank Of Khyber 5004 3.52 3.59 Bank Of Punjab 5288 8.82 BankIslami Pak 5280 3.31 Faysal Bank 6091 3.26 14.26 Habib Bank Ltd 10019 6.33 101.73 Habib Metropolitan Bank 8732 6.56 22.57 JS Bank Ltd 6128 2.66 KASB Bank Ltd 9509 2.42 MCB Bank Ltd 7602 9.08 203.20 Meezan Bank 6983 7.97 15.30 Mybank Ltd 5304 2.17 National Bank 13455 5.77 67.11 NIB Bank 40437 2.87 Royal Bank Ltd 17180 6.39 Samba Bank 14335 2.05 Silkbank Ltd 26716 12.77 2.80 Soneri Bank 6023 6.84 Stand Chart Bank 38716 3.33 6.80 Summit Bank Ltd 5000 3.00 United Bank Ltd 12242 6.74 57.47

High

High Low Close 1,057.07 1,024.04 1,037.29 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.97 13.45 34.35 Low

Close Chg

56.89 55.15 56.27 0.93 16.48 15.50 15.84 -0.51 1.98 1.80 1.89 -0.06 10.00 9.62 9.69 -0.10 32.49 31.70 32.00 -0.01 3.70 3.51 3.52 -0.07 9.05 8.64 8.74 -0.08 3.40 3.17 3.23 -0.08 14.64 14.10 14.16 -0.10 102.70 100.05 101.40 -0.33 23.30 21.45 21.45 -1.12 2.69 2.61 2.65 -0.01 2.69 2.35 2.36 -0.06 205.50 203.00 204.84 1.64 15.68 15.00 15.07 -0.23 2.30 2.08 2.11 -0.06 70.25 67.02 68.76 1.65 2.97 2.85 2.88 0.01 6.80 6.25 6.50 0.11 2.12 2.00 2.10 0.05 2.88 2.77 2.81 0.01 7.84 6.82 7.50 0.66 6.95 6.75 6.80 0.00 3.05 2.91 2.99 -0.01 59.24 57.09 57.27 -0.20

Last 60 days High Low

Volume 1133765 2506887 33688 1165350 110146 8597 691290 407276 71834 143894 425352 55351 61819 896024 26082 34364 13123473 629652 48824 181305 490728 2546458 27251 29604 3621240

Change 4.60 Market cap 628,434.77 mn Div Yield (%) 4.74

59.10 16.96 2.84 10.19 33.75 3.99 10.49 3.69 15.20 109.10 23.30 2.90 3.70 214.20 15.95 2.79 73.89 3.30 11.99 2.65 3.30 7.84 8.50 3.78 59.24

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

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

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

% Change 0.45 5-Day High 1,037.29 5-Day Low 1,011.27

Open 858.52 Turnover 25,199 P/E (x) 86.33

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 693.76 Turnover 1,185,759 P/E (x) 11.50 Paid up Cap(mn)

Company Adamjee Insurance

High Low 706.85 684.55 Total cos Defaulter cos P/BV (x) ROE (%) 0.60 5.20

Close 693.49 Listed cap 11,111.34 mn Payout (%) 79.54

Change -0.27 Market cap 43,969.86 mn Div Yield (%) 6.92

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 12.97

71.91

72.67

70.86

71.31 -0.60

479515

89.50

63.05

2009 Div BR (%) (%) 30

10B

Paid up Cap(mn)

Company

% Change -0.04 5-Day High 711.32 5-Day Low 693.49 2010 Div BR (%) (%) 10

-

34.97 51.26 11.51 44.10 11.13 84.53 58.54 15.20 9.46 6.41 7.05

1.64 0.21 0.57 -0.97 -0.22 4.02 0.54 -0.03 0.16 -0.02 0.04

2525 204 140103 23993 6200 37755 376 465742 28053 214 1001

35.00 64.90 11.99 54.22 13.89 84.53 60.50 18.38 10.30 7.70 10.00

27.10 47.37 9.42 34.76 10.04 66.02 52.21 12.50 8.00 6.05 6.00

East West Life EFU Life Assurance XB New Jub Life Insurance

High Low 862.63 847.23 Total cos Defaulter cos P/BV (x) ROE (%) 3.32 3.85

Close 849.48 Listed cap 2,290.72 mn Payout (%) 355.53

40 20 40 35 35 30 30 20 -

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

Change -9.03 Market cap 9,847.59 mn Div Yield (%) 4.12

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

455 850 39.70 627 52.51

2.50 75.29 42.05

2.85 76.00 42.07

2.08 73.00 42.00

2.85 0.35 73.04 -2.25 42.01 -0.04

15300 4899 5000

3.00 82.99 45.20

10 10 -

UPTO 100 VOLUME

10B 20B -

Symbols FANM ARM FUDLM AZTM SSML SHCM MSOT TRPOL DWAE SZTM SCL AGSML STML ESBL NESTLE BAWS PNSC ULEVER AGIC DFSM SCM HWQS UNIC JVDC SHEZ SMTM PPP BGL DIIL FCONM MODAM UPFL CRTM QUET BCL PHDL MUKT SANSM SING SMCPL PIL BAFS PAKMI GRYL PASM NSRM NMBL JKSM HUSI MEHT GATI CJPL SHJS IBLHL TSMF SCLL PKGI BCML IDRT SHDT BHAT GATM JUBS AABS MIRKS PTEC LPGL PGCL WAZIR

% Change -1.05 5-Day High 887.16 5-Day Low 849.48

2009 Div BR (%) (%)

2.05 51.25 34.50

2010 Div BR (%) (%)

- 10R 5513.33B 10 -

-

20R -

FINANCIAL SERVICES Performance of SR Financial Services Index Open 372.85 Turnover 10,877,459 P/E (x) 0.46 Paid up Cap(mn)

Company

AMZ Ventures Arif Habib Investments Arif Habib Limited XB Arif Habib Securities Cap Assets Leasing

225 360 450 3750 107 Dawood Cap Management XB 150 Dawood Equities 250 First Credit & Invest Bank Ltd 650 First National Equity 575 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 Sec Inv Bank 514 Trust Inv Bank 586

High Low 386.01 368.02 Total cos Defaulter cos P/BV (x) ROE (%) 0.17 37.22

PE

Open

High

Low

3.35 13.22 4.37 1.55 1.32 12.92 12.75 2.68 1.50 0.33 25.08 3.97 10.12 -

0.57 16.50 26.95 23.79 1.99 1.40 1.63 4.00 8.54 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 2.52 1.41

0.64 17.05 26.67 23.97 1.99 1.49 1.79 4.00 9.35 2.14 7.69 0.97 3.85 2.08 10.38 2.98 30.70 6.24 4.09 5.58 1.87 0.80 3.23 1.87

0.54 16.61 25.71 23.62 1.99 1.45 1.65 3.01 7.54 2.01 7.11 0.70 3.65 1.72 9.85 2.70 28.20 5.92 3.90 5.40 1.69 0.50 2.52 1.51

Close Chg 0.63 17.04 25.92 23.76 1.99 1.48 1.70 3.10 9.35 2.04 7.69 0.74 3.65 1.97 10.07 2.93 28.20 6.02 4.09 5.40 1.73 0.50 2.53 1.65

0.06 0.54 -1.03 -0.03 0.00 0.08 0.07 -0.90 0.81 0.01 0.59 -0.06 0.05 0.03 0.09 0.27 -1.48 -0.03 0.05 0.00 -0.01 0.02 0.01 0.24

Close 375.37 Listed cap 30,336.44 mn Payout (%) 4.60

Volume 57590 40052 110271 935606 175 3707 8272 243 309 13256 2513 320038 5600 193003 7576147 1257573 105218 129954 2501 2825 78059 29263 958 4501

Change 2.52 Market cap 26,785.81 mn Div Yield (%) 10.06

% Change 0.68 5-Day High 387.17 5-Day Low 372.85

Last 60 days High Low

2009 Div BR (%) (%)

1.10 20.99 45.74 34.99 2.99 2.25 2.91 4.50 11.75 2.30 9.00 1.00 5.29 2.84 13.90 5.71 40.89 7.89 5.25 5.95 2.57 1.70 3.80 3.25

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

0.42 13.00 24.62 20.90 0.61 0.50 1.51 2.00 6.84 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 1.65 1.24

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

Open 1,056.87 Turnover 1,470,083 P/E (x) 6.78 Paid up Cap(mn)

Company

1st Fid Leasing AL-Meezan Mutual F.XD B R R Guardian Mod. Crescent St Mod. XD Elite Cap Mod. XD Equity Modaraba First Capital Mutual F. First Dawood Mutual F. Golden Arrow XD H B L Modaraba XD Habib Modaraba JS Growth Fund JS Value Fund KASB Modaraba XD Meezan Bal. Fund XD NAMCO Bal. Fund Nat Bank Modaraba XD Pak Prem Fund Pak Strat Fund Paramount Mod. XD PICIC Energy Fund PICIC Growth Fund PICIC Inv Fund Prud Modaraba 1st XD Punjab Modaraba Trust Modaraba XD

High Low 1,076.40 1,042.24 Total cos Defaulter cos P/BV (x) ROE (%) 0.28 4.09

PE

Open

High

Low

264 1375 5.13 780 2.75 200 1.98 113 2.86 524 300 4.62 581 0.55 760 3.03 397 2.07 1008 5.34 3180 36.88 1186 9.96 283 1.35 1200 5.34 1000 2.50 250 6.79 1698 11.13 3000 6.83 59 7.14 1000 1.64 2835 5.25 2841 4.43 872 2.34 340 6.90 298 2.88

1.33 6.20 1.25 0.71 1.81 1.16 4.60 1.56 2.75 5.22 6.08 2.88 2.76 1.30 5.75 2.98 7.10 8.08 7.15 8.00 5.65 8.11 3.70 0.96 1.45 1.50

1.48 6.20 1.23 0.84 2.44 1.30 4.50 1.99 2.80 6.22 6.38 2.95 2.80 2.00 5.55 2.51 7.74 8.19 7.45 8.00 5.65 8.20 3.95 0.89 1.60 1.50

1.25 6.14 1.20 0.60 1.73 1.15 4.30 1.68 2.70 5.65 6.17 2.94 2.71 1.80 5.55 2.50 6.55 7.95 7.05 8.00 5.25 8.00 3.70 0.87 1.45 1.30

Close Chg 1.38 6.15 1.21 0.79 1.86 1.30 4.30 1.73 2.79 6.22 6.20 2.95 2.79 1.84 5.55 2.50 7.13 8.01 7.10 8.00 5.65 8.19 3.90 0.89 1.45 1.50

0.05 -0.05 -0.04 0.08 0.05 0.14 -0.30 0.17 0.04 1.00 0.12 0.07 0.03 0.54 -0.20 -0.48 0.03 -0.07 -0.05 0.00 0.00 0.08 0.20 -0.07 0.00 0.00

Close 1,059.36 Listed cap 29,771.58 mn Payout (%) 104.19

Symbols

Change 2.49 Market cap 17,428.76 mn Div Yield (%) 27.03

Volume

Last 60 days High Low

10700 1501 4002 22597 236 100114 25100 109501 28075 315498 45788 2200 42505 36000 500 1000 26500 293650 122100 500 76804 32100 152527 103 19858 259

2.24 7.25 1.67 1.10 3.00 1.50 4.75 2.00 3.88 6.80 7.44 3.70 3.98 2.00 7.00 3.70 8.45 9.86 8.10 9.45 6.10 10.09 4.99 1.20 2.00 4.40

Open 2.50 14.90 5.46 1.56 2.19 10.95 19.15 0.65 0.54 4.76 52.00 5.02 16.99 2.79 1949.97 1.40 37.45 4050.18 10.74 3.15 8.80 22.00 6.25 59.50 93.65 6.42 41.95 1.69 13.88 1.25 1.03 1000.00 21.99 31.85 46.87 38.86 0.46 13.85 18.98 6.15 2.95 53.35 0.95 1.35 8.54 16.00 1.00 6.99 9.75 56.60 42.37 0.76 64.75 8.00 1.77 2.30 6.01 15.00 3.12 9.59 185.00 22.64 3.49 95.90 58.24 1.70 21.19 19.42 6.39

High 2.55 14.50 5.35 1.56 2.70 11.95 20.15 0.63 0.54 4.00 54.57 6.02 16.75 2.85 1994.00 1.40 37.25 4098.00 11.00 3.15 8.98 22.00 6.20 61.00 94.98 6.42 42.00 1.69 14.78 1.75 1.07 1050.00 23.00 32.99 46.90 40.80 0.68 13.79 18.98 6.94 3.24 56.01 0.72 1.50 9.36 16.00 1.25 7.50 10.39 55.00 44.48 1.00 65.60 8.64 2.10 2.69 6.97 15.90 3.49 10.55 189.00 23.70 3.94 95.00 60.20 1.95 22.18 20.40 6.00

Low

Close

2.55 14.50 5.35 1.56 2.25 11.95 20.14 0.63 0.54 3.76 49.57 5.01 16.75 2.85 1940.00 1.40 37.25 3876.00 10.04 3.15 8.60 22.00 6.20 60.00 94.00 6.42 39.86 1.69 13.01 1.17 0.70 1000.00 22.18 30.26 46.90 36.92 0.60 13.79 18.95 6.27 2.76 51.00 0.71 1.25 8.00 16.00 1.25 7.15 9.89 55.00 44.00 0.16 65.60 8.40 1.99 2.48 6.79 15.90 3.49 10.55 189.00 23.70 3.94 95.00 60.20 1.95 22.00 20.25 6.00

2.55 14.50 5.35 1.56 2.25 11.95 20.14 0.63 0.54 4.00 51.01 5.01 16.75 2.85 1944.94 1.40 37.25 4050.00 10.06 3.15 8.93 22.00 6.20 60.00 94.93 6.42 40.13 1.69 14.28 1.34 0.89 1050.00 22.18 32.99 46.90 39.32 0.60 13.79 18.95 6.55 3.00 54.95 0.72 1.42 8.91 16.00 1.25 7.15 9.89 55.00 44.00 0.70 65.60 8.40 1.99 2.48 6.79 15.90 3.49 10.55 189.00 23.70 3.94 95.00 60.20 1.95 22.00 20.25 6.00

Change

Vol

0.05 -0.40 -0.11 0.00 0.06 1.00 0.99 -0.02 0.00 -0.76 -0.99 -0.01 -0.24 0.06 -5.03 0.00 -0.20 -0.18 -0.68 0.00 0.13 0.00 -0.05 0.50 1.28 0.00 -1.82 0.00 0.40 0.09 -0.14 50.00 0.19 1.14 0.03 0.46 0.14 -0.06 -0.03 0.40 0.05 1.60 -0.23 0.07 0.37 0.00 0.25 0.16 0.14 -1.60 1.63 -0.06 0.85 0.40 0.22 0.18 0.78 0.90 0.37 0.96 4.00 1.06 0.45 -0.90 1.96 0.25 0.81 0.83 -0.39

100 100 100 100 100 100 100 100 100 86 83 77 67 64 64 61 51 49 46 33 30 27 26 25 21 20 20 20 18 15 15 12 11 11 11 11 10 10 10 9 5 5 4 3 3 3 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index

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

33.03 51.26 11.10 44.00 11.10 81.50 55.53 15.13 9.25 6.41 7.02

Performance of SR Life Insurance Index

Performance of SR Electricity Index High Low 1,196.04 1,174.05 Total cos Defaulter cos P/BV (x) ROE (%) 1.22 9.35

34.98 53.34 11.85 46.00 11.45 84.53 58.90 15.45 9.50 6.41 7.58

LIFE INSURANCE

-

ELECTRICITY Open 1,188.38 Turnover 30,071,232 P/E (x) 13.02

33.33 51.05 10.94 45.07 11.35 80.51 58.00 15.23 9.30 6.43 7.01

% Change 0.24 5-Day High 1,062.96 5-Day Low 1,051.99

2009 Div BR (%) (%)

1.01 5.85 0.90 0.16 1.65 0.76 0.99 1.30 2.32 4.80 5.56 2.65 2.31 0.52 5.30 2.25 6.15 7.00 6.01 6.55 4.00 7.60 3.50 0.70 0.57 1.00

4.5 5 20 10 5 15 -

2010 Div BR (%) (%)

- 18.5 0 1.2 5 17 11 21 5 10 2.8 - 15.5 15 10 - 18.6 - 11.53 18 10 20 10 3 1 5

-

Open

NBP-OCT 67.15 NBP-NOV 67.66 NML-OCT 52.84 NML-NOV 53.47 POL-NOV 243.46 DGKC-OCT 26.78 ENGRO-NOV 176.92 ENGRO-OCT 177.17 POL-OCTB 242.47 MCB-OCT 203.29 DGKC-NOV 26.97 OGDC-OCT 153.36 MCB-NOV 203.29 OGDC-NOV 152.31 ANL-NOV 11.75 PPL-NOV 191.16 PSO-OCT 267.33 PSO-NOV 266.89 PPL-OCT 190.55 ANL-OCT 11.69 LUCK-OCT 72.40 AICL-OCT 72.44 NCL-NOV 21.75 UBL-OCT 57.43 AICL-NOV 72.80 LUCK-NOV 73.00 PTC-OCT 19.60 FFBL-OCT 30.70 FFC-OCT 109.32 UBL-NOV 57.00

High 70.00 70.45 53.30 54.00 246.60 27.20 178.60 179.00 245.75 205.79 27.30 155.29 204.90 154.60 11.95 193.00 268.99 268.80 192.48 11.90 73.30 72.65 21.50 58.99 73.00 74.00 19.11 30.25 109.32 57.50

Low

Close

67.00 67.40 52.30 52.80 244.00 26.61 176.85 177.00 242.80 203.05 26.75 153.30 202.99 153.00 11.55 189.75 266.75 266.99 189.00 11.46 72.50 71.50 21.50 57.20 71.50 73.10 19.10 30.25 109.32 57.50

68.32 69.45 52.55 53.05 244.08 26.77 177.65 177.75 243.08 204.84 26.91 155.00 204.03 154.30 11.66 190.00 267.07 267.01 189.67 11.57 72.50 71.61 21.50 57.70 71.90 73.86 19.11 30.25 109.32 57.50

Change 1.17 1.79 -0.29 -0.42 0.62 -0.01 0.73 0.58 0.61 1.55 -0.06 1.64 0.74 1.99 -0.09 -1.16 -0.26 0.12 -0.88 -0.12 0.10 -0.83 -0.25 0.27 -0.90 0.86 -0.49 -0.45 0.00 0.50

Vol 691000 477500 286000 235000 190500 189500 146500 133000 120500 109500 103000 86000 82000 81000 68500 65500 60000 59500 59000 54000 49000 44500 32500 29500 25000 12500 10500 5000 3000 500

ZERO VOLUME Symbols

Open

High

Low

Close

AASM ACCM BWCL DATM DYNO GLPL GVGL

31.99 0.85 24.00 0.34 12.45 71.50 27.65

30.70 0.84 23.47 0.36 12.25 70.89 29.00

30.70 0.84 23.47 0.36 12.25 70.89 29.00

30.70 0.84 23.47 0.36 12.25 70.89 29.00

Change

Vol

-1.29 -0.01 -0.53 0.02 -0.20 -0.61 1.35

0.00 0.00 0.00 0.00 0.00 0.00 0.00

BOARD MEETINGS

National Bank of Pakistan

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

77.56

Support 1

10,654.85

MA (5-day)

10,655.45

Support 2

10,605.50

MA (10-day)

10,555.34

Resistance 1

10,755.75

MA (100-day)

9,990.26

Resistance 2

10,807.35

MA (200-day)

9,998.43

Pivot

10,706.40

KSE 100 INDEX closed up 46.01 points at 10,704.16. Volume was 58 per

Index will continue to find its 1st support level at 10,654.85 and 2nd sup-

Rs Recommendations

78

AKD Securities Ltd

Brokerage House

Buy

*Arif Habib Ltd

61.96

Neutral

AKD Securities Ltd

92.3

Positive

TFD Research

TFD Research

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

Fair Value

Rs Recommendations

*Arif Habib Ltd

56.82

Accumulate

AKD Securities Ltd

78.44

Positive

TFD Research

Free Float Shares (mn) 318.37 Free Float Rs (mn) 21,890.91 ** NOI Rs (mn) 58.31 Mean 68.29

* 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

77.33 54.32 54.52 57.79

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

Brokerage House

Fair Value

*Arif Habib Ltd

Rs Recommendations

23

306.04 17,527.19 44.74 57.77

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

ing oscillators are currently bullish on NBP.

Brokerage House

Buy

*Arif Habib Ltd

Fair Value

Rs Recommendations

Oil & Gas Development Co Ltd

Brokerage House

133

Reduce

TFD Research

Positive

TFD Research

36.85

Positive

TFD Research

Technical Outlook

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

58.60 26.80 25.43 27.07

Brokerage House AKD Securities Ltd

23.67

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

Pakistan Telecommunication Co Ltd

Sell

TFD Research

Technical Analysis

reflect very strong flows of volume into NML (bullish). Trend forecasting

Rs Recommendations

AKD Securities Ltd

Technical Outlook

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

120

Buy

321.37 5,090.53 N/A 16.04

175.80 9,220.71 241.19 52.73

NML is currently 1.5 per cent above its 200-day moving average and is dis-

Fair Value

43.29

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

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

182.55 4,883.20 23.23 26.79

* 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)

75.20 152.45 143.81 135.03

Rs Recommendations

24.04

Buy

30.5

Positive

Negative

Technical Outlook

Technical Outlook

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

126.33

Fair Value

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

630.05 97,607.48 58.48 153.88

* 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)

48.80 19.21 18.68 19.64

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

584.63 11,113.91 7.65 19.17

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

AKBL closed down -0.51 at 15.84. Volume was 757 per cent above aver- DGKC closed up 0.03 at 26.75. Volume was 52 per cent below average OGDC closed up 2.07 at 154.92. Volume was 37 per cent above average PTC closed down -0.17 at 19.01. Volume was 26 per cent below average age (trending) and Bollinger Bands were 10 per cent wider than normal.

(consolidating) and Bollinger Bands were 30 per cent wider than normal.

and Bollinger Bands were 15 per cent narrower than normal.

and Bollinger Bands were 55 per cent narrower than normal.

OGDC is currently 14.7 per cent above its 200-day moving average and is PTC is currently 3.2 per cent below its 200-day moving average and is disAKBL is currently 15.6 per cent below its 200-day moving average and is DGKC is currently 1.2 per cent below its 200-day moving average and is displaying an upward trend. Volatility is relatively normal as compared to playing an upward trend. Volatility is relatively normal as compared to the the average volatility over the last 10 trading sessions. Volume indicators average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into OGDC (bullish). Trend forecasting reflect moderate flows of volume into AKBL (mildly bullish). Trend forecast- reflect moderate flows of volume into DGKC (mildly bullish). Trend fore- oscillators are currently bullish on OGDC. Momentum oscillator is current- reflect volume flowing into and out of PTC at a relatively equal pace. Trend

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

ing oscillators are currently bullish on AKBL.

casting oscillators are currently bullish on DGKC.

ly indicating that OGDC is currently in an overbought condition.

forecasting oscillators are currently bullish on PTC.

Time

28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct 28-Oct

11:00 12:00 9:00 11:30 11:00 3:30 3:00 5:00 3:00 11:00 12:30 12:00 11:00 2:30 10:00 3:00 11:30 9:30 12:00 1:30

Company

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

*Arif Habib Ltd

AKD Securities Ltd

61.86 15.53 15.27 18.77

65.74 51.82 47.06 51.70

Date

Adamjee Insurance Co Ltd Al-Abbas Cement Industries Ltd Ashfaq Textile Mills Ltd Asian Stock Fund Ltd Atlas Battery Ltd Atlas Engineering Ltd Attock Petroleum Ltd Bank Alfalah Ltd Century Paper & Board Mills Ltd Clariant Pakistan Ltd Crescent Jute Products Ltd Crescent Steel and Allied Products Ltd Diamond Industries Ltd Din Textile Mills Ltd Dost Steel Ltd East West Insurance Co. Ltd East West Life Assurance Co Ltd Engo Corporation Ltd Escorts Investment Bank Ltd Fateh Textile Mills Ltd

TECHNICAL LEVELS

Positive

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

Buy

Neutral

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

Buy

74.2

44

14.75

Leverage Position

Buy

59.97

oscillators are currently bullish on NML.

indicating that UBL is currently in an overbought condition.

AKD Securities Ltd

Technical Analysis

Rs Recommendations

65

NBP closed up 1.65 at 68.76. Volume was 538 per cent above average UBL closed down -0.20 at 57.27. Volume was 326 per cent above average NML closed down -0.45 at 52.45. Volume was 14 per cent above average (trending) and Bollinger Bands were 11 per cent narrower than normal. (trending) and Bollinger Bands were 36 per cent wider than normal. and Bollinger Bands were 8 per cent wider than normal.

Dera Ghazi Khan Cement Co Ltd

Askari Bank Ltd

Fair Value

Technical Outlook

port level at 10,605.50. KSE 100 INDEX is currently 7.1 per cent above its 200-day moving average NBP is currently 3.4 per cent above its 200-day moving average and is dis- UBL is currently 0.9 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 extremely high when 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 moderate flows of volume into NBP (mildly bullish). Trend forecast- 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

68.80 66.14 65.59 71.75

cent above average and Bollinger Bands were 24 per cent wider than nor- MA (200-day) mal. As far as resistance level is concern, the market will see major 1st resistance level at 10,755.75 and 2nd resistance level at 10,807.35, while

Fair Value

*Arif Habib Ltd

Nishat Mills Ltd

United Bank Ltd

Company

Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Limited Arif Habib Securities Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Alfalah BankIslami Pak Bank Of Punjab Dewan Cement DGK 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 JOV 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 PIAC(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki PSO XD PTCLA Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele

RSI 1st 2nd (14-day) Support 44.88 3.10 3.05 71.36 55.30 54.35 42.03 62.40 61.80 40.14 25.55 25.15 51.37 23.60 23.45 53.17 70.55 69.80 61.86 15.40 14.95 65.31 11.35 11.15 34.35 297.05 295.75 69.41 97.70 97.20 66.88 9.55 9.40 51.59 3.15 3.05 58.67 8.55 8.40 47.69 1.50 1.45 58.60 26.55 26.30 64.62 1.65 1.60 64.90 2.65 2.45 61.75 43.40 42.70 59.68 72.00 71.00 53.19 176.50 175.40 56.42 13.95 13.75 47.88 4.85 4.80 64.44 30.10 29.95 52.16 107.15 106.65 55.06 100.05 98.75 52.19 33.85 33.75 60.43 125.95 125.35 55.43 228.90 226.30 57.59 2.75 2.60 59.17 1.65 1.60 61.04 2.60 2.55 44.21 9.80 9.55 43.77 39.70 39.40 52.20 2.10 2.05 56.19 72.10 71.60 67.22 203.40 201.95 47.60 2.85 2.75 68.80 67.10 65.45 85.44 22.35 21.55 47.12 18.25 18.10 53.19 2.85 2.80 50.10 1.40 1.30 65.74 52.10 51.70 75.20 152.95 151.00 58.41 3.10 3.00 52.40 1.65 1.60 54.90 2.15 2.10 51.09 7.80 7.60 55.83 241.30 239.65 56.45 187.60 185.95 45.69 72.65 71.45 49.02 266.10 265.20 48.80 18.85 18.70 23.83 182.20 181.30 58.83 31.25 30.25 82.80 12.35 11.80 44.83 24.35 23.25 57.38 2.35 2.20 51.37 4.05 3.95 77.33 56.50 55.70 50.18 2.60 2.55

1st 2nd Resistance 3.20 3.25 57.05 57.85 63.90 64.80 26.50 27.05 23.95 24.15 72.35 73.40 16.40 16.90 11.80 12.10 300.55 302.75 98.90 99.50 9.90 10.15 3.35 3.50 9.00 9.20 1.60 1.65 27.05 27.30 1.80 1.85 3.20 3.50 45.40 46.70 75.00 77.00 178.85 180.05 14.50 14.85 5.00 5.10 30.45 30.65 108.45 109.25 102.70 104.05 34.10 34.20 127.50 128.45 235.80 240.10 3.05 3.15 1.80 1.85 2.70 2.75 10.35 10.65 40.50 41.00 2.20 2.25 73.30 74.00 205.90 206.95 3.00 3.05 70.35 71.90 23.75 24.35 18.55 18.70 2.95 3.00 1.55 1.60 53.05 53.65 156.20 157.45 3.20 3.25 1.85 1.95 2.30 2.35 8.30 8.50 245.30 247.65 191.75 194.25 75.95 78.05 268.45 269.90 19.35 19.65 184.50 185.90 32.70 33.20 13.65 14.35 25.90 26.45 2.55 2.60 4.20 4.30 58.65 60.00 2.70 2.80

Pivot 3.15 56.10 63.30 26.10 23.80 71.60 15.95 11.65 299.25 98.35 9.75 3.25 8.80 1.55 26.80 1.70 3.00 44.70 74.00 177.70 14.30 4.95 30.30 107.95 101.40 34.00 126.90 233.20 2.85 1.75 2.65 10.10 40.20 2.15 72.80 204.45 2.90 68.70 22.95 18.40 2.90 1.45 52.70 154.25 3.15 1.75 2.25 8.05 243.65 190.10 74.75 267.55 19.15 183.60 31.70 13.10 24.85 2.40 4.10 57.85 2.65


8

Thursday, October 28, 2010

Eithad Air adds to its Hajj flights

TOKYO: Flight attendants of Asia's Star Alliance group members (L-R) Air China, Air Canada, All Nippon Airways, Asiana Airlines, Singapore Airlines and Thai Airways pose for photos during a ceremony for the newly opened international terminal building of the Tokyo International Airport.-Reuters

Emirates to stay off commercial airline pacts DUBAI: Emirates will not enter into any commercial alliances as they are harmful to competitiveness, the airline's president said in remarks published recently. Tim Clark said the airline preferred to work on its own as alliances could hurt the quality of its services, according to comments in Arabic language daily Al Bayan. Emirates, the Middle East's largest carrier, is not a part of global airline clubs such as the "oneworld" or Star Alliance. Clark's remarks come during an ongoing dispute over access to flight routes and competition.-Reuters

UK's BA may face cartel fine up to 80mn euros BRUSSELS: British Airways (BA) could be fined up to 80 million euros ($112 million) next month for fixing cargo prices with other carriers, a source with direct knowledge of the case told Reuters. The European Commission charged BA, Air France-KLM, SAS and several other airlines in December 2007 with taking part in an air freight cartel, following raids on both sides of the Atlantic a year earlier that also involved the US Department of Justice. "The Commission is considering a fine of between 60 to 80 million euros," the source said, adding that no final decision has been taken and discussions are continuing.-Reuters

Islamabad-based female officer lodges complaint

PIA station manager faces allegations of sexual harassment ISLAMABAD: A female officer in the national aviation company, Pakistan International Airlines (PIA) has lodged a complaint against Station Manager, Islamabad over sexual harassment. According to sources in PIA, a female officer based at Islamabad station has complained to General Manager Services Mazhar Ijaz through a letter alleging Station Manager

Asad Hameed Baig of harassing her sexually. The complainant also informed the Women Protection Committee (WPC) of PIA about the matter on which the committee taking strict action has launched an inquiry against Baig. In this regard, the General Manager has also sought written explanation from the Station Manager.-NNI

UK airport authority BAA posts lower losses LONDON: UK airport operator BAA said rising business traveller traffic helped shrink losses in the first nine months of 2010 and unveiled plans for a bond issue to refinance part of its 2 billion pounds debt. BAA, owned by Spanish infrastructure group Ferrovial, said its pretax loss for the nine months to the end of September narrowed by 75 per cent to 192.6 million pounds as revenue rose 4.4 per cent to 1.54 billion pounds. The owner of London's Heathrow said passenger traffic at the capital's busiest airport jumped 4.4 per cent to 19.5 million from July to September compared with a year ago and that it was bullish on its prospects for the remainder of the year. "Although the UK economy is in a tough state, many parts of the globe are growing very fast so business travel to those places is buoyant," BAA's Chief Executive Colin Matthews told reporters on a

conference call. "Heathrow is exposed to global business activity and that's one reason why it's been so strong but with UK spending cuts there will be less money in people's pockets so no one is predicting an easy time in 2011." BAA was last year hit by an impairment charge of 225 million pounds on the sale of Gatwick airport and an exceptional pension cost of 262 million pounds. Global airlines have hiked their profit forecasts this year as recession fades and traffic rises. Industry body IATA said it expected the industry to post a combined net profit of $8.9 billion, more than three times the previous forecast of $2.5 billion made in June. BAA, which also owns London's Stansted airport, said it hoped to raise between 250 and 325 million pounds through a bond issue to refinance the remainder of a 465.8 million pounds loan facility, which is due in 2011.-Reuters

Korean Air’s Q3 earnings hit record SEOUL: Korean Air, the world's top freight carrier among commercial airlines, posted a record quarterly operating profit on Wednesday, helped by strong growth in passenger revenue. South Korea's No.1 airline, which has seen steady profit and margin growth since the second quarter of 2009, said it expected the trend continue in coming months and said it would add five A380 aircraft next year to its fleet of 130 planes to meet growing passenger demand. Korean Air, which also handles the country's major export items such as semiconductors, flat-panel displays and automobile parts, reported a record 358 billion won ($318.8 million) operating profit in the July-September quarter, below analysts forecast of 415 billion won. The profit rose sharply from 100 billion won profit a year ago and beat the previous record of 352 billion won reported in the second quarter. Net profit more than doubled to 584 billion won and topped the 441 billion won forecast, as a stronger won KRW= helped it reduce imported fuel costs and dollar-denominated debt. "Thanks to better-thanexpected economic rebound in China and Southeast Asian countries, as well as increased world travel during the summer vacation, passenger traffic increased rapidly," the company said in an earnings statement.-Reuters

ISLAMABAD: Etihad Airways will increase its services from Abu Dhabi to Saudi Arabia in November, providing additional flights to Jeddah for Muslims making the annual Hajj pilgrimage. Pilgrims from Pakistan taking Etihad Airways for their Hajj journey will also be able to avail the opportunity provided to ease the surge in demand for Hajj flights, said a press release issued here on Wednesday. In addition to its regular daily Jeddah service from Abu Dhabi, Etihad will offer 11 extra flights to the city between November 2 and 20, offering a capacity increase of 1600 seats during the period - an additional opportunity for guests to travel from Karachi, Lahore, Islamabad and Peshawar on Etihad. The additional services will be operated by Airbus A320 and A330 aircraft. Amer Khan, Etihad Airways' Country Manager, said "The Hajj pilgrimage is a very important experience for Muslims all over the world and Etihad is proud to help its guests make this significant journey. The demand for the Hajj flights has always been very strong and Etihad is expecting the services this year to be equally popular. "In addition to carrying pilgrims from the UAE, we anticipate many Muslims will fly from around the world to Jeddah, via our home-base in Abu Dhabi." Every year more than two million pilgrims make the journey to Saudi Arabia, which is the custodian of the two Holy Mosques in Makkah and Madinah. Makkah is located 73 kilometres inland from Jeddah, with

Etihad ranked 2nd best in world LAHORE: Etihad Airways was recently ranked number two in the 'Top Airlines Global' category in the 23rd annual Condé Nast Traveler Readers' Choice Travel Awards held in New York, which is one of the top international travel awards programs. These rankings are based on the annual survey of over 25,000 Condé Nast Traveler readers worldwide. Etihad won this recognition for its outstanding achievements as an airline, receiving the award second to Singapore Airlines and ahead of its MiddleEastern competition. Peter Baumgartner, Etihad Airways' Chief Commercial Officer,, said: "We are delighted to be recognised by global travellers in this way. The award is testament to the commitment of our staff, whose continuous contributions to the airline ensures that the added value of our innovative products and services is recognised internationally."-NNI Muslims regarding the al-Masjid al-Haram (The Sacred Mosque) as the holiest place on earth. Etihad Airways, the national airline of the United Arab Emirates, launched daily services to Jeddah in May 2006. The airline also offers a nonstop, eight-flights-per-week service to the Saudi capital Riyadh, and 13 flights-perweek to Dammam.-APP

JAL plans to ask 4 main lenders for more capital TOKYO: Japan Airlines Corp (JAL) plans to ask four major lenders and other firms for up to 50 billion yen ($613 million) in investments to bolster its capital cushion, the Nikkei business daily reported on Wednesday. JAL and its sponsor, the statebacked Enterprise Turnaround Initiative Corp of Japan (ETIC), believe a capital injection worth about 50 billion yen is needed to guard against unexpected business downturns, a JAL spokesman said. But no decision has been made on when or how the additional capital will be raised, he said. The airline, which is scheduled to receive 350 billion yen from the ETIC and debt waivers of 520 billion yen from creditors, hopes to raise more to weather unexpected business downturns, the Nikkei said. The carrier is uncertain, however, if banks will agree to provide the funds, especially with negotiations for additional loans to JAL still to be concluded, the Nikkei said. JAL plans to ask the Development Bank of Japan, Mizuho Corporate Bank (8411.T), Bank of TokyoMitsubishi UFJ (8306.T) and Sumitomo Mitsui Banking Corp (8316.T) to take capital stakes. It also plans to approach major trading companies, insurers and travel agencies, the daily said. The company's chairman, Kazuo Inamori, plans to meet with banks starting next week to seek investments and fresh lending, the Nikkei said. The daily also said the airline is believed to have already begun talking to some banks behind the scenes. But the lenders are reluctant to cough up more money, especially as their JAL preferred shareholdings were wiped out after its bankruptcy filing. A business restructuring plan for the airline is expected to be approved by the end of November, the paper reported.-Reuters

TRIPOLI: French Industry Minister Christian Estrosi (C) is received on the tarmac after a new Airbus (A320) was delivered to the Libyan Arab Airlines, in Mitiga international airport.-Reuters

Marri deals a big push to Gorakh Hill resort work 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. She voiced these directions while presiding over a meeting to review the progress of work on the scheme, at her office, here. 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, through Public Private Partnership (PPP) mode. The DG, GHDA further briefed the Minister that the Department, in collaboration with PPP Unit, Sindh Finance Department, has engaged Transaction Advisor (TA) Earnst and Young Ford Rhodes and Meinhardt for the project on 6th April, 2010, through open competitive bidding. The TA has prepared feasibility study

report for the project and has suggested a development plan as well. It was further disclosed that the preliminary surveys undertaken by the TA suggested that the access road from Wahi Pandi to Gorakh Hill Summit (56 km) needs to be improved to make it safe, secure and easily accessible for the tourists. The Minister was further briefed that a detailed topographic and geotechnical survey was underway to lay the access road accordingly. DG also said that the surveys have been delayed due to floods in the Johi area but would resume shortly.-APP


9

Thursday, October 28, 2010

Crude oil falls on stronger $, QE doubts US crude to average over $83 next year: Poll LONDON: Oil fell towards $81 a barrel on Wednesday, as mounting doubts about the size and timing of US economic stimulus pushed up the dollar, but data showing a drop in US gasoline inventories helped limit oil's losses. The US Energy Information Administration's report showed crude stocks rose 5.01 million barrels, more than forecast but less than the rise reported Tuesday by industry. Gasoline stocks fell 4.39 million barrels, after being expected to be up 200,000 barrels. Distillate stocks fell near expectations. US crude for December fell $1.30 to $81.25 a barrel at 1445 GMT, off an earlier low of $80.73. ICE Brent fell $1.21 to $82.45. Oil was down almost 2 per cent prior to the release of the US government oil stocks data as the dollar was

forced up on doubts about how far the Federal Reserve will go on economic stimulus plans. Data on Wednesday showed new US single-family homes rose more than expected in September, helping to support the dollar and pressure oil, as investors saw strong economic data making the case for less aggressive Fed easing.

The negative correlation between the dollar and the price of oil was near its strongest level in 14 months in the run-up to a meeting on Nov. 2-3 when the Federal Reserve is expected to make clear the details of how much money it will pump into the US economy. Speculation financial mar-

kets may have priced in too much QE was stoked by a Wall Street Journal report on Wednesday, which said the US Federal Reserve's Treasury bond-buying programme was likely to be worth "a few hundred billion dollars." Investors had been counting on between $500 billion and $1 trillion to help the economic recovery. A Reuters poll of 33 analysts and industry experts predicted oil would average over $83 next year as US monetary stimulus fed through to the economy and boosted fuel demand. Oil refinery strikes in protest against French President Nicolas Sarkozy's unpopular pension reform eased on Tuesday, with walkouts ending at several plants and unions sounding more open to talks with employers. -Reuters

GAZA STRIP - PALESTINE: Palestinian farmers sort peanuts during harvest in Khan Younis in the southern Gaza Strip. -Reuters

US cotton jumps for 5th day, touches record NEW YORK: US cotton futures surged on Tuesday, hitting a record high and ending nearly 4 per cent higher on frenetic buying by mills, speculators and funds, analysts said. After a fifth straight session of gains, Lou Barbera, cotton analyst at brokerage VIP Commodities, said cotton was "over-inflated." He predicted prices would drop in the days ahead as investment funds started rolling positions out of the December contract. "We're up here in la-la land, in the stratosphere," said Mike Stevens, an independent cotton analyst in Louisiana. "You've still got the same fundamentals

going." Cotton prices have soared nearly 80 per cent in value since late July, rocketing up due to strong demand and higher fibre prices in China, the No 1 producer which has been squeezed by tight stocks and shrinking production. ICE Futures US key December cotton contract gained 4.88 cents or nearly 4 per cent to finish at $1.2959 per lb. Before a late bout of profit taking, cotton touched a record high at $1.305. After the biggest five-day rise for US cotton futures since March 2003, many believe the market is overbought. "It's out of control," said Jobe Moss, an ana-

lyst for brokers and merchants MCM Inc in Lubbock, Texas. In China, the Zhengzhou Commodity Exchange's benchmark fourth-month cotton contract last traded at 27,135 yuan per tonne, having touched an alltime top of 27,980 yuan. "Cotton price gains on the physical market have failed to keep up with the gains on futures, and there will be great risks if traders keep pushing futures prices higher," said Li Panfeng, an analyst with Bette Futures. The market will watch closely to see if the pace of buying by China has slowed down given the record run-up in prices. -Reuters

Palm oil extends losses on strong dollar KUALA LUMPUR: Malaysian palm oil extended losses on Wednesday and China's soyoil market tumbled from two-year highs as a stronger dollar made commodities priced in the currency expensive and unattractive as an inflation hedge. Benchmark January 2011 palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.5 per cent lower at 3,037 ringgit ($981.3), extending losses to a second day after the market hit a two-year high on Monday. Traded volume was heavy at 19,420 lots of 25 tonnes each changing hands, almost double from the usual 10,000 lots. "Palm oil followed a correction of China's soyoil and profit taking on a stronger dollar,"

said a trader in Kuala Lumpur. But traders expect resilient palm oil export when cargo surveyors issue September data next week, which may have limited the losses in the Malaysian benchmark. Reuters technical analyst Wang Tao expects Malaysian palm oil to maintain at 3,194 ringgit per tonne based on its wave pattern and a Fibonacci projection analysis. China soyoil futures fell on Wednesday, tracking Chicago soybean prices that fell back from 14-

month highs during Asian trade. The most active September soyoil contract on China's Dalian Commodity Exchange tumbled 2.8 per cent to 9,440 yuan per tonne on profit taking after climbing to its fresh twoyear highs of 9,580 yuan earlier in the session. China booked about 250,000 tonnes of soyoil mainly from Argentina this week for March to May shipment after Beijing lifted a ban over imports from the world's largest exporter, an official think tank said on Wednesday. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for October 26 2010 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1200

1180

October (3rd Wednesday)

1230

1180

November (3rd Wednesday)

1230

1180

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for October 26 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

2250 2255 2220 2230 2185 2195 2185 2195

2331 2332 2361 2362 2405 2410 2462 2467

8465 2540.5 8466 2541 8473.5 2568 8474.5 2569 8305 2535 8315 2540 7940 2503 7950 2508

23180 23185 23295 23300 22800 22900 21750 21850

TIN

ZINC NASAAC

26545 2556 26550 2556.5 26500 2584 26550 2585 26000 2608 26050 2613 2563 2568

2281 2282 2295 2305 2345 2355 2400 2410

European vegetable oil prices ROTTERDAM: The following were the Wednesday's Rotterdam vegetable oil price's at 21:00 PST. SOYOIL: EU degummed euro tonne fob exmill Dec10/Jan11 860.00-5.00, Feb11/Apr11 865.00+1.00. RAPEOIL: Dutch/EU euro tonne fob exmill Feb11/Apr11 852.00+2.00, May11/Jul11 857.00+2.00, Aug11/Oct11 840.00+5.00. SUNOIL: EU dlrs tonne extank six ports option Jan11/Mar11 1320.00-10.00, Apr11/Jun11 1305.00-5.00, Jul11/Sep11 1330.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1297.50-7.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Nov10 1030.00-5.00, Dec10 1030.002.50, Jan11/Mar11 1025.002.50, Apr11/Jun11 1027.502.50. PALMOIL: RBD dlrs tonne cif Rotterdam Dec10 1057.50, Jan11/Mar11 1052.50. PALMOIL: RBD dlrs tonne fob Malaysia Dec10 1012.505.00, Jan11/Mar11 1007.505.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Dec10 1022.50-5.00, Jan11/Mar11 1017.50-5.00, Apr11/Jun11 1020.00-5.00. PALM STEARIN: Dlrs tonne fob Malaysia Nov10 1005.00+0.00, Dec10 1005.00+0.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Oct10/Nov10 1430.00-15.00, Nov10/Dec10 1430.00-15.00, Dec10/Jan11 1430.00-15.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam Oct10/Nov10 1925.00+0.00. Reuters

Indian sugar flats; millers eye festival demand MUMBAI: India's spot sugar ended steady on Wednesday as millers kept prices unchanged in tenders despite weak demand, dealers said. "Demand was weak, but millers were not lowering prices in tenders.... Retail demand may pick up in next few days," said Shrikant Karwa, a sugar dealer based in Phaltan, Maharashtra. Demand for sugar usually goes up ahead of Diwali, the Hindu festival of lights, which falls in the first week of November. In Kolhapur, a key market in top-producing Maharashtra state, the most traded S-variety nudged 1 rupee up to 2,580 rupees ($58) per 100 kg. India is likely to take a decision on sugar exports after the second week of November, Farm Minister Sharad Pawar said on Wednesday. He said the country is likely to produce 25 million tonnes sugar in 2010/11. Fresh showers in India's key sugar producing states of Maharashtra and Karnataka are likely to delay cane crushing, industry and government officials told Reuters. -Reuters

Copper falls as Fed expectations lift $

Robusta coffee hits 2-yr high, sugar slips

stoppage at the world's No. 3 copper deposit. Union sources have said results from the vote could come in around 0000 GMT.

LONDON: Robusta coffee hit a two-year high on Wednesday, while arabica coffee held near its recent 13-year peak, as dealers said technical buying based on historical price charts supported the markets. ICE raw sugar futures prices eased, just below a nine-month peak, while cocoa edged higher, as the firm dollar weighed on the commodities complex. Dealers said robusta coffee was boosted by supportive technicals. January robustas peaked at $1,927 a tonne before easing slightly to trade up $36 or 1.9 per cent at $1,915 a tonne at 1500 GMT. Arabica coffee remained near the 13-year peak hit on Tuesday of $2.0460 a lb, trading unchanged at $2.0175 a lb. Indian authorities are expected to give a decision in the next week on whether to allow sugar exports and an approval seems likely, GSC Rao, chief executive of Indian refining group Simbhaoli Sugars, said on Wednesday. ICE March raw sugar futures traded down 0.30 cent or 1.1 per cent at 27.66 cents a lb, near their nine-month peak hit last week of 29.23 cents a lb. London December white sugar was down $14.30 or 2 per cent at $694.00 per tonne. Czarnikow's head of analysis, Toby Cohen, said on Wednesday he estimated global sugar stocks were below 20 million tonnes and the stocksto-use ratio was around 10 per cent, putting the market in a fragile position. Cocoa was higher as dealers focused on Ivory Coast, the world's biggest producer, where cocoa arrivals have been below expectations thus far. Dealers also eyed the upcoming election due at the end of the month as any unrest could trigger higher cocoa prices. ICE December cocoa up $21 or 0.7 per cent at $2,910 per tonne. Liffe second-month March cocoa was up 18 pounds at 1,969 pounds a tonne. -Reuters

LONDON: Copper fell away from recent two-year highs on Wednesday responding to a firmer dollar amid speculation that fresh monetary easing in the United States would not be as pronounced as previously thought. Benchmark copper on the London Metal Exchange closed at $8,300 per tonne, from a Tuesday close of $8,511, and a session low of $8,266.50. The metal used in power and construction hit its highest since July 2008, at $8,554, in the prior session. An unexpected dip in demand for US durable goods in September caused the dollar to pare gains earlier in the session, supporting copper briefly, but the effect was shortlived and base metals resumed their decline. Demand for long-lasting US manufactured goods, excluding aircraft, unexpectedly slipped last month and a key gauge of business capital spending plans also fell, underscoring the economic recovery's tepid pace. Meanwhile, workers at Chile's giant Collahuasi mine look set on Wednesday to vote for a strike in a wage-offer ballot, union leaders said, in a move that could lead to output

Shanghai copper falls Benchmark third-month Shanghai copper fell 490 yuan to 64,040 yuan. Shanghai zinc also fell 3 per cent to 20,360 yuan. Three-month zinc fell on Wednesday to close at $2,510, from a close of $2,615 per tonne. It has retraced four per cent from nine-month peaks of $2,638.75 touched on Tuesday. The metal used in galvanising is at risk of a deeper correction, added Major given ample global supply. Meanwhile, LME-bonded warehouses registered the largest zinc inflow in some five months, data showed today. Lead, which hit a new peak since January earlier at $2,619, slipped to close at $2,543 from $2,594. Aluminium closed at $2,323 a tonne from $2,390. Nickel closed at $22,805 a tonne from $23,300. Tin declined to $26,050 a tonne from $26,700. LME inventories rose 90 tonnes to 12,825 tonnes, the highest since end-September, data showed. -Reuters

Gold sheds 1.5pc ahead of Fed meeting LONDON: Gold fell 1.5 per cent on Wednesday as the dollar rose versus the euro after a report said the Federal Reserve would likely adopt a gradual approach to further US monetary easing at a meeting next week. Spot gold hit a low of $1,318.74 and was bid at $1,320.25 an ounce at 1513 GMT, against $1,338.70 late in New York on Tuesday. US gold futures for December delivery fell $17.80 an ounce to

one of the biggest gold-buying occasions of the year, approached in November. India's October gold imports are forecast to rise by 14.6 per cent from a year ago despite record high prices, as Hindu festivals and the metal's investment performance attract buyers. Elsewhere, a newspaper run by China's Ministry of Commerce said on Wednesday the country should significantly boost its state gold reserves to a level

China rubber limits-down

$1,320.80. All eyes will turn to US growth data at the end of this week, and the hotly awaited policy meeting of the Federal Open Market Committee the following week, at which the prospect of monetary easing is set to be discussed. "The greenback is holding strong, and there is little other news (for gold)," said Andrey Kryuchenkov, an analyst at VTB Capital. US GDP data on Friday will be key for the dollar, and consequently for gold, he said, "but it is really down to the FOMC on 2/3 November". "I think the Fed won't go as big on QE2 as people have been expecting, and I think the dollar (will) firm into year-end," said Simon Weeks, head of precious metals at the Bank of Nova Scotia. "It's just a question of time before we are lower." In India, bullion traders snapped up bargains to meet festival demand as Dhanteras,

equal to that held by the United States, citing a local researcher. Palladium was at $619.55 an ounce against $620.63, having earlier touched its highest since 2001 at $636.25 an ounce. The autocatalyst metal is one of this year's best-performing commodities. Silver was bid at $23.39 an ounce against $23.82. The US Commodity Futures Trading Commission said there had been attempts to influence silver prices, but did not provide any detail on the status of a probe into price manipulation in silver that started in 2008. The US commodity futures regulator is looking into claims by a trader in London that JPMorgan Chase & Co was involved in manipulative silver trading, the Wall Street Journal said, citing a person close to the situation. Platinum was at $1,681.42 an ounce against $1,694.95. -Reuters

BEIJING: Benchmark rubber futures traded on the Shanghai Futures Exchange were limitdown on Wednesday, but analysts said fundamentals are unchanged. The May 2011 rubber futures contract fell 5 per cent to go limit-down at 31,210 yuan ($4,685) per tonne. On Tuesday, the contract hit a record high of 33,320 yuan per tonne. Analysts said a stronger dollar prompted an overall downward correction in agricultural commodities, especially those that had been rising fast in recent months. The SHFE lifted trading fees for natural rubber futures contracts from Monday, which also increased the difficulty of short-term speculative trading, Guo added. As fundamentals had not changed, once the dollar weakened, rubber prices would likely set fresh record highs, said Song Chao, an analyst with Tianma Futures, putting initial support for the benchmark futures at 30,000 yuan per tonne. -Reuters

National Commodity Exchange Ltd Trading Summary Date

27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-Oct-2010 27-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

82.30 82.94 83.52 23.34 23.34 1329.00 1333.50 1335.00 1333.70 1329.00 1334.90 37025.00 36885.00 36902.00 36848.00 36857.00 42989.00 42979.00 37933.00 37972.00 37894.00 37907.00 37920.00 43578.00 43623.00 43533.00 2402.00 3323.00 4491.00 86.73 86.16

82.80 83.41 83.52 23.68 24.17 1343.00 1343.00 1344.00 1333.70 1341.20 1334.90 37075.00 36885.00 36902.00 36848.00 36857.00 42989.00 42979.00 37933.00 37972.00 37894.00 37907.00 37920.00 43578.00 43623.00 43533.00 2402.00 3347.00 4500.00 86.77 86.16

81.57 82.30 82.26 23.34 23.22 1328.00 1325.40 1325.80 1331.30 1327.90 1330.40 36673.00 36741.00 36758.00 36704.00 36704.00 42811.00 42811.00 37775.00 37815.00 37828.00 37749.00 37762.00 43393.00 43439.00 43454.00 3302.00 3323.00 4491.00 86.73 85.79

81.92 82.60 82.26 23.68 23.64 1331.30 1330.40 1331.30 1331.30 1330.40 1330.40 36732.00 36741.00 36758.00 36704.00 36704.00 42811.00 42811.00 37775.00 37815.00 37828.00 37749.00 37762.00 43393.00 43439.00 43454.00 3326.00 3347.00 4500.00 86.77 85.79

Traded Volume in lots 176 48 238 557 1,763 1,929 9 3 -

Previous Settlement Price 82.33 82.99 83.53 23.99 23.99 1338.60 1339.10 1340.00 1338.60 1339.10 1340.00 37016.00 37025.00 37043.00 36989.00 36997.00 43143.00 43143.00 38063.00 38102.00 38115.00 38036.00 38050.00 43729.00 43774.00 43789.00 3302.00 3323.00 4491.00 86.73 85.80

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 81.92 39 82.60 12 82.26 23.68 23.64 52 1331.30 55 1330.40 799 1331.30 1,711 1331.30 1330.40 7 1331.30 36732.00 50 36741.00 9 36758.00 36704.00 1 36713.00 42811.00 42811.00 37775.00 37815.00 37828.00 37749.00 1 37762.00 43393.00 43439.00 43454.00 3326.00 3347.00 4500.00 86.77 85.79 -


Yao Ming of China goes up to shoot past Pau Gasol of Spain during NBA game in LA

10

Thursday, October 28, 2010

Sharapova confirms to play in Auckland AUCKLAND: Former world number one Maria Sharapova will fine tune her Australian Open preparations with her first appearance at the Auckland Classic, organisers said on Wednesday. The world number 17, who won two tournaments and made three other finals in 2010, joins champion Yanina Wickmayer of Belgium as confirmed entrants for the Jan. 3-8 event, which serves as a warmup to the Australian Open from Jan 17-30. The 23-year-old, who won Wimbledon in 2004, the US Open in 2006 and the Australian Open in 2008, has been hampered by injury over the past two seasons but organisers expected her to be a huge drawcard for the tournament in central Auckland. "Having Maria come to the ... Classic is a major boost to the tournament and to the sport," said tournament director Richard Palmer. "Her popularity is huge and she will be one of the leading players at the (tournament) in 2011."-Reuters

Injury woes continue for Owen LONDON: Michael Owen's injury-interrupted season will be back on hold for a few weeks more after suffering a hamstring problem, the Manchester United striker said on Wednesday. The ex-Liverpool frontman had only just returned to training after a groin problem but was ruled out of Tuesday's 3-2 League Cup win over Wolverhampton Wanderers after suffering "a different muscle injury". His career has been consistently hampered by injury setbacks in recent years, which have also seen him slip from the international scene despite having scored 40 goals for England. "It's not going great. I had a bit of a tight groin a while ago and I've trained for a week preparing for last night's game but then I had a setback," Owen told BBC radio. "Unfortunately, because of a training ground injury I'm going to be out for the next few weeks, which is disappointing." Owen has not played since being substituted in the goalless Premier League draw at Sunderland on Oct 2.-Reuters

Jazz Cricket Hungama in Gujranwala Staff Correspondent GUJRANWALA: Jazz has initiated a nation-wide cricket tournament titled "Jazz Cricket Hungama." One of the tournaments venues was Gujranwala where 16 talented and enthusiastic young cricket teams of the city were pitted against one another. Many remarkable performances were displayed by young players who were competing to earn the status of cricket champions of Gujranwala. As per the format determined, the 16 teams played these matches on a knock-out basis. The day/night schedule helped to ensure maximum participation by the players as well as the spectators. At the conclusion of this tournament, the -Aroop Cricket Club from Gujranwala city took the top position and the title of 'Cricket Champions of Gujranwala'.

Batting collapses once more for Pak Tauseef Mallick KARACHI: Another bad performing day, another batting collapse, another misfiring display from batting lineup. Some things never change, though they might claim a single run improvement, as Pakistan made 120 runs for the loss of 9 wickets batting first in their second T20 match against South Africa. Nothing went right from the start. Shahzaib Hasan continued to be a walking wicket and his exit, to an ugly slog across the line, opened the floodgates. Imran Farhat, who was bowled going for an over-ambitious heave, made you wonder whether the selectors are too harsh on

Imran Nazir. Like yesterday, it was Lonwabo Tsotsobe who removed the openers. There was no middle-order revival. Mohammad Hafeez's averages just 20.01 from 53 ODIs and 16.53 from 17 Twenty20s. Today was yet another day where he played couple of pretty shots before combusting. He was caught at the crease, pondering over a cut or a steer and lost his stumps before he could makeup his mind. Umar Akmal ran himself out after getting into a mix-up with Misbah-ul-Haq, and Shahid Afridi scooped Rusty Theron to deep point. Abdul Razzaq improved on his performance from yesterday - he swung couple of sixes - but tapped a full toss from Theron straight to mid-off.

Alam takes critical reforming steps

Strictness may lift Pak’s game ABU DHABI: Team manager Intikhab Alam Wednesday insisted that "strict steps" taken to improve discipline would improve Pakistan's cricket and did not disturb the players. Pakistan last week introduced a new code of conduct with stricter punishments for disciplinary breaches, which Alam said were needed in the wake of England tour rocked by spot-fixing allegations against the team. "All the strict steps taken are for the betterment of Pakistan cricket and all the players are feeling comfortable with them," Alam told. Three Pakistani players -Salman Butt, Mohammad Asif and Mohammad Aamer -- were suspended by the International Cricket Council (ICC) follow-

ing allegations of spot-fixing on the tour of England last month. Alam said Pakistan cricket will show signs of improvement -- on and off the field. "With players reminded of their responsibilities we hope that Pakistan cricket will show signs of improvement both on and off the field and the focus should be to do the best for the country," said Alam, also a former captain. Alam said players have been told to take care in meeting people who they don't know. "There is no curb on players' movement as dispelled in certain quarters. They have been asked not to go anywhere on match days and they are not allowed to bring any guest to their team hotel.-Agencies

Ronaldo targeted by cryptic laser MADRID: Real Madrid star Cristiano Ronaldo was targeted by a laser during the goalless King's Cup draw away to thirdtier side Murcia, in the latest in a string of similar incidents, Spanish media reported Wednesday. The green laser was pointed at the 25-year-old's face at the Nueva Condomina stadium on Tuesday night during the 72nd minute of the match just as he was lining up to take a free kick, sports daily Marca reported. The newspaper published pictures of the Portuguese international taken during the match with showed a green glow from the laser on his forehead as well as on his cheek. The guilty fan was able to avoid being caught by stadium officials, the newspaper said.

Ronaldo has been targeted by lasers at other stadiums in the past as well,including Barcelona's Nou Camp, Marseille's Velodrome and Lyon's Gerland. In March 2008 European football's governing body UEFA fined Lyon 5,000 Swiss francs (3,675 euros) after the French club's supporters used a laser on Ronaldo during a Champions League clash with Manchester United, his club at the time. Television pictures showed Ronaldo being targeted by a green light both before and during the first knockout round tie at Lyon on February 20. The match ended in a 1-1 draw, with United going on to reach the quarter-finals after winning the second leg 1-0.APP

It was left to Misbah to push Pakistan over 100. It was another one of his meandering knocks that seemed to go nowhere till he showed intent at the last couple of overs. Like yesterday, he initially struggled to find his timing but fought on to stitch one end up. He went for the big shots in the end - there was a neat six over wide long-on, hit on a bent knee and a shuffled swat to backward squareleg boundary- to shove Pakistan to 120. South Africa again were very disciplined with their line and lengths. Tsotsobe picked early wickets, Johan Botha strangled in the middle and Theron finished off in style with three wickets in the last over.

United through to league's last eight LONDON: Mexican substitute Javier Hernandez scored a last-minute winner to send holders Manchester United into the League Cup quarter-finals with a 3-2 victory over Wolverhampton Wanderers at Old Trafford on Tuesday. After a scrappy and goalless first half, the visitors twice came back from a goal down against a youthful United side before "Little Pea" Hernandez skipped past defenders to settle the tie in the 90th minute. "When he came on, you just know that if he gets a chance he is going to take it," United manager Alex Ferguson, who replaced his entire starting line-up from the weekend, told Sky Sports television. Premier League West Bromwich Albion roared through to the last eight with a thumping 4-1 victory at former England manager Sven-Goran Eriksson's Championship (second division) side Leicester City. Wigan Athletic beat second division Swansea City 2-0 with Argentine striker Mauro Boselli scoring his first goal for the club since his signing from Estudiantes. The run of fourth division Northampton Town, who knocked out Liverpool at Anfield on penalties, ended at second division Ipswich Town where they lost 3-1 despite opening the scoring with a looping Liam Davis shot.-Reuters

ABU DHABI: Pakistan's Imran Farhat plays a shot during the second day of Twenty20 international cricket match against South Africa.-Reuters

Pak confident to satisfy ITF security KARACHI: Pakistan said it was confident that international tennis would return to the country after an International Tennis Federation (ITF) security visit. Pakistan Tennis Federation President Dilawar Abbas told Reuters on Tuesday that security consultant Ian Todd had visited Pakistan on behalf of the ITF to assess security arrangements at venues. "We have asked the ITF to allot international events including Davis Cup ties to Pakistan once again as we are capable of hosting them with-

out any problems," Abbas said. The ITF moved Pakistan's 'home' Davis Cup Asia-Oceania group matches against Oman, Phillipines, Hong Kong and New Zealand because of security concerns. "We have suffered because we lost our home advantage in these Davis Cup ties," Abbas said. The ITF confirmed that the security assessment had taken place and that it was expecting a full report. "We are hopeful something positive will happen soon as

this is necessary for the promotion of the sport in Pakistan," Abbas said. The Pakistan cricket team are playing all their home matches at neutral venues for an indefinite period after armed gunmen attacked a bus carrying the Sri Lankan team in Lahore last year. Tennis has become a front line sport in Pakistan recently following the success of Aisam-ul-Haq who has teamed up with Indian Rohan Bopanna to win double events on the ATP tour.-APP

Samir off ITF tour over fundlessness LAHORE: Pakistan's future tennis hope Samir Iftikhar lost the opportunity to represent Pakistan in the main draw of Prestigious ITF Junior Grand Slam event Osaka Mayors Cup held from October 18-25 due to non availability of funds with the Pakistan Tennis Federation. The dejected Samir is the 2nd junior from Pakistan since 1998 after his cousin Aisam-ulHaq to be accepted in the Qualifying draw of Australian

junior open Grand slam in January 2010 and was sent on special Grant by Federal Sports Minister Ijaz Jhakrani where he gained tremendous exposure and raised his junior world Ranking from 1300th to current 250th and became 2nd Pak Junior since 1998 to receive prestigious ITF GSDF grant in May 2010. He became the only Pak junior after 12 years to win four back to back singles and Doubles ITF junior world

ranking titles at Syria, Amman, Bahrain and Dubai. "Every player has the dream to play the Grand Slam event and I did my best to improve my ranking to world number 250 in record time of eight months which got me in the main draws of High Grade tournaments and the Grand Slam event in Osaka where my participation could have further lifted the level of my game by competing against world top players," Samir told.-APP

Kochi axed off IPL NAGPUR: The IPL's Kochi franchise has been served a termination notice by the BCCI but has been given a 30-day deadline to respond and explain why it should not be scrapped. The decision was taken unanimously by the IPL's governing council, meeting in Nagpur on Wednesday morning. "The governing council received replies from two par-

ties, the Rendezvous group and the other co-owners, and they both felt that the dispute still exists," Shashank Manohar, the BCCI president, said. If they don't remedy these disputes in the 30 days, the franchise would stand cancelled on the 31st day." Satyajit Gaikwad, of the Rendezvous Group, however, welcomed the extension and was confident that the factions

within the consortium would make peace. "They have given us enough time to tie up our differences and come in a unified way and rise up to the expectations of the BCCI," he told NDTV. "I'm sure we should be able to do that at the earliest. If we don't tie up within 30 days we don't deserve to be in the IPL. We had asked for a period of 10 days, the board has given us 30 days."-Online

Germany's 1954 win, a drugged victory? BERLIN: West Germany's 1954 World Cup-winning team, feted as the men who helped put a nation back on its feet after World War Two, may have been boosted by a secret doping programme, according to a new university study. Germany upstaged red-hot favourites Hungary 3-2 in the final in Switzerland in a victory that became known as the "Miracle of Berne," giving the war-weary nation cause at last for cheer. "There are several strong indications that point to the injection of (methamphetamine) pervitin in some Germany players and not vitamin C as it was claimed," sports historian and author

Erik Eggers, who conducted the study as part of a team at Humboldt University in Berlin, told Reuters on Wednesday. Pervitin was a known stimulant at the time and had also been distributed to German soldiers in World War Two. Team officials had said they had injected their players only with vitamin C during the tournament. No drugs tests were conducted at the time. Eggers has been studying this case for some years and his report forms part of a wider project

called 'Doping in Germany', launched by the country's sports authorities to investi-

widely used in many sports and amphetamines were said to be also used by South

gate its doping past. "Pervitin was at that time

America said.

players,"

Eggers

"What is suspicious is that these injections to German players were distributed secretly and the only reason they became known was because those who got injected contracted jaundice." Hungary had demolished the Germans 8-3 in the tournament's group stage, making West Germany's final win all the more surprising. "The most important indication, though, is that vitamin C is not injected. This is very unusual. They could have just eaten an orange instead." German football federation

(DFB) officials could not be immediately be reached for a comment. German Olympic Sports Union (DOSB), the country's umbrella sports organisation which launched the Doping in Germany project with other sports authorities, told Reuters they were aware of Eggers' study. "Keep in mind these are indications and not proof," a DOSB official told Reuters. Many Germans view the 1954 win as the springboard of the country's remarkable soccer success in the World Cups -- they have won three and been runners-up four times -- and a key moment of renewed optimism in postWar Germany.-Reuters


China warns of inflationary pressure, vows action BEIJING: China's central bank said on Wednesday that inflationary pressures should not be overlooked, while the cabinet vowed to stabilise consumer prices and curb overly rapid increases in property prices. Taken together, the statements signalled heightened concern over price and asset bubble risks, despite an assurance from China's top planning agency that near-term inflation would remain under control. China unexpectedly increased interest rates last week for the first time in nearly three years and some economists think another rate increase could come before the end of the year. "We still need to be vigilant about upward pressure on consumer prices," the People's

Bank of China said in a thirdquarter report Consumer price inflation hit a 23-month high of 3.6 per cent in the year to September and most analysts expect it to rise a little further. "Looking at future conditions, economic growth is trending slower and a gradual normalisation of money growth will help stabilise inflationary expectations," the central bank said. "However, high grain prices, the impact of reforms to income distribution and resource pricing as well as uncertainties about global commodity prices mean that inflationary pressure should not be overlooked," it said. The State Council, or cabinet, said after a meeting to discuss economic plans for the

fourth quarter that stabilising prices of vegetables and daily necessities would be high on the government's agenda and also vowed to tame rampant property prices. "All regions and departments must seriously implement various control measures to resolutely curb the overly rapid rises in property prices in some cities," it said. The government has curbed lending to developers, raised mortgage rates and enforced higher down payments as part of a series of measures to cool the red-hot property sector. China's benchmark bond and bill yields were mixed on Wednesday, with the yield curve steepening amid lingering worries over high inflation and possible further monetary tightening.-Reuters

US data leave Fed expectations intact WASHINGTON: Demand for long-lasting US manufactured goods, excluding aircraft, unexpectedly fell last month and a key gauge of business capital spending plans also eased, underscoring the economic recovery's tepid pace. Another report from the Commerce Department on Wednesday showed new home sales rose 6.6 per cent last month, but still remained at depressed levels, leaving intact expectations in financial markets that the Federal Reserve would ease monetary policy further next week. Overall orders for durable goods jumped by a more than expected 3.3 per cent, the

largest increase since January, lifted by a surge in aircraft bookings. They had dropped 1 per cent in August and economists had expected a 2 per cent increase in September. However, orders excluding transportation fell 0.8 per cent after increasing 1.9 per cent in August as bookings for communications equipment dropped steeply, the department said. Economists, who track this core figure closely, had expected a 0.5 per cent gain. "We're not seeing the kind of upswing in the data that would lead us to believe the Fed is not going to carry out large-scale asset purchases,," said Robert

Tipp, chief investment strategist at Prudential Fixed Income in Newark, New Jersey. The US central bank, which has already bought about $1.7 trillion worth of Treasury and mortgage-related debt, is expected to launch a second round of asset purchases next week to drive borrowing costs down further and stimulate spending. The Fed's decision will be announced a day after Tuesday's congressional election, which is widely seen as a referendum on President Barack Obama's performance on the economy. His Democratic Party is seen facing large losses.-Reuters

ECB takes baby exit step, Stark talks up recovery WIESBADEN: European Central Bank policymaker Juergen Stark talked up improvements in the euro zone's economy and lending markets on Wednesday, as the bank restarted the slow process of removing its crisis support. Forward-looking indicators this month have suggested Europe's recovery was more resilient to a swathe of budget cutbacks than was previously thought, helped by powerful growth in Germany, its largest economy and industrial core. "Despite all the risks and uncertainties .... in some parts of the euro zone, we are close to a self-sustaining economic recovery," Stark, a member of the ECB's Executive Board, said at a KPMG conference. Fellow ECB policymaker Yves Mersch hinted on Tuesday that ECB staff could raise growth forecasts when they are updated in December and sentiment indicators for Germany and the euro zone have largely been better than forecast. Figures on Wednesday showed French consumption rose three times faster than expected last month, while Europe's largest carmaker Volkswagen detailed what one analyst described as "blowout" third quarter results on bumper Audi sales. Germany's headline unadjusted jobless total also fell in October to its lowest since 1991. But there were also figures showing loan growth was still sluggish, underlining the problems companies, consumers and authorities face as they head into a year of eye-watering cuts in public spending in many countries.Reuters

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establishment of Disease Early Warning System and Diarrhea Control Centers in the flood affected areas. Dr Margaret Chan during the meeting expressed satisfaction over the improvement of medical facilities and outreach to the affected people in the areas worst hit by the devastating floods. President Zardari also said that there was a need for WHO to remain engaged in the early recovery and rehabilitation phases in the aftermath of the floods to ensure that disease control work is sustained. Dr Margaret Chan assured that WHO would continue its efforts to provide medical facilities to the people of Pakistan in collaboration with local authorities not only in the flood affected areas but also in other areas where health of people was at risk. -Agencies

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Pakistan day by day. He said that one-man show destroys the government. Answering to a question he replied that the government is applying different tactics to hide corruption scandal against it. -Online

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output would rise by 11.9 million tonnes year-on-year in 2010/11. Below-average rainfall in Brazil, drought in Russia, and floods in Pakistan, raised concerns over tight supplies. Uhlenbrock said that despite concerns over the weather, Brazilian sugar output in 2010/11 was forecast to stand at 40.5 million tonnes, up 5.2 million from the previous year. He said that India, the world's number two sugar producer after Brazil, could export around 3 million tonnes of sugar in 2010/11, and that Indian sugar output was likely to stand at 28.5 million tonnes, raw value, in 2010/11. -Reuters

WALK IN INTERVIEW FOR THE POST OF COMPUTER ASSISTANTS IN CHANDKA MEDICAL COLLEGE LARKANA. Applications are invited from suitable candidates of Sindh Province for Appointment of Computer Assistants on One Year Contract Basis for Chandka Medical College, Larkana through "University Educational Assistant Program" UEAP. A fixed monthly payment of Rs. 7,000/= will be paid monthly. The applications should reach the undersigned upto Thursday, the 11th November 2010 along with NIC, Two Photographs, Domicile, and copies of Certificates / Degrees. The minimum qualification of applicants shall be Intermediate plus One Year Diploma in Information Technology from any recognized institute of Government of Sindh. The candidates with experience of minimum 1 year in recognized institute will be given preferences. The interviews will be held on 16-11-2010 in the office of the undersigned. NOTE : Applicants should be present on 16-11-2010 with their all Original Documents at 10.00 a.m. No TAIDA will be allowed for Interview purpose. PRINCIPAL CHANDKA MEDICAL COLLEGE LARKANA

INF-KRY 3727/10

11

International & Continuation

Thursday, October 28, 2010

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The notice said the profit before tax also declined to Rs69.027 million as against Rs553.475 million in the same period last year. The earning per share dropped to 13 paisa during the period under review compared to Rs1.73 in 2009.

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the carmaker's pre-tax profit decreased to Rs948.877 million compared to Rs1.167 billion registered during the same period last year. Moreover the earning per share also dropped to Rs7.35 in 2010 compared to Rs9.66 in 2009.

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Pre-tax profit also soared to Rs516.212 million for the period under review against Rs273.275 million in the corresponding period 2009.

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Energy-related stocks in Hong Kong saw the steepest declines as the dollar strengthened, pushing crude prices lower. China Coal fell 5.9 per cent, wiping out three days of gains. Oil majors Petrochina and Sinopec Corp lost 4.3 per cent and 3.4 per cent, respectively. Shares of metal-related plays, in particular gold mining companies, also lost ground in Shanghai as commodity prices remained depressed through the trading day. Zhongjin Gold fell 4.3 per cent, while Zijin Mining Group shed 4.5 per cent.Shanghai Petrochemical Corp, a unit of Sinopec, dropped 4.6 per cent and Shanxi Coal International Energy was down 4.7 per cent. "The market is looking to consolidate in certain sectors after large gains," said Cheng Yi, analyst at Xiangcai Securities in Shanghai. Analysts said the index was likely to continue moving narrowly around 3,000 points in the coming days, cautioning that a possible withdrawal of liquidity from the market would halt any significant rally. "Some money from the property market is flowing into property stocks today, but most of the time money will be driven into whichever hot areas investors are focusing on," said Xiangcai Securities' Cheng, who remains wary that gains in the sector may not last.-Reuters

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During the first three months of fiscal year 2010-11, NRL's after tax profit jumped to Rs1,349 million against Rs678 million, a huge increase of 99 per cent. The earning per share also almost doubled to Rs16.87 as against Rs8.47 in 1QFY10. Sales revenue increased by 67 per cent from Rs19.98 billion to Rs33.39 billion in the period under review. Similarly, gross profit increased to Rs2.31 billion as against Rs1.24 billion in the same period last year. Gross profit margins significantly increased to 6.9 per cent as against 6.2 per cent during the corresponding period last year. Net margins also surged from 3.4 per cent to 4 per cent during the period, mainly due to higher GRMs.

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and mobile substitution. However decrease in revenue from falling fixed line subscribers was partially offset by increase in revenue from broadband and international calls. Company's cost of services went up by 8.6 per cent to Rs10.18 billion mainly due to unprecedented rise in salary expenses. Gross profits decreased by 27.9 per cent to Rs3.67 billion. Other operating income remained major a contributor to the surge in profitability as it jumped by 70.8 per cent to Rs1.89 billion compared to Rs1.1 billion in the same period previous year. Financing cost also decreased by 46.3 per cent to Rs69.8 million.

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Expectations of large-scale US Treasury bond purchases by the Fed have fueled market gains as investors bet more quantitative easing will invigorate an economic recovery and lift asset prices.

German data to subdue euro-zone inflation BERLIN: Annual inflation held steady in Germany at 1.3 per cent in October, data showed on Wednesday, offering an early indication that price pressures in the euro zone as a whole remain in check for now. The preliminary consumer price index (CPI) rose by 1.3 per cent on the year, unchanged from September, according to data from the Federal Statistics Office that matched a forecast from a Reuters poll of 36 economists. German prices provide the first insight into trends across the euro area, where annual inflation was 1.8 per cent in September and is expected to show the same reading for October, according to a Reuters

poll. Germany collate data from individual states which showed inflation slowed in three, held steady in one and rose in North Rhine-Westphalia -- Germany's most populous region. "Price pressures are moderate. There are no inflationary tendencies currently," said Postbank economist Marco Bargel, though rising import and producer prices suggested consumer price inflation might also accelerate in the future. The Statistics Office said inflation was, as in previous months, driven mainly by price rises in light heating oil and fuels as well as in fruit and vegetables. Euro zone M3 money supply, a measure of cash which the

European Central Bank sees as a leading indicator for inflation, was also subdued, rising 1.0 per cent on an annual basis in September, ECB data showed earlier on Wednesday. Forecasts had been for a 1.3 per cent rise. At 0.8 per cent, the threemonth moving average of M3 growth remained well below the ECB's reference rate of 4.5 per cent, above which the bank sees dangers to medium-term price stability. An absence of price pressures is a major factor in expectations the ECB will keep interest rates at a record low of 1 per cent for the 18th month running at its November monthly meeting next Thursday.-Reuters

But the Wall Street Journal reported the central bank is likely next week to unveil a program of purchases worth a few hundred billion dollars over several months, and wants to avoid a "shock and awe" approach. The market has priced in expectations of an initial commitment to buy at least $500 billion in Treasury debt over five months, said Jeffrey Friedman, senior market strategist at LindWaldock in Chicago, and a potentially different scenario came as a disappointment to the market. Also on the Nasdaq, Comcast Corp gained 2.1 per cent to $20.05 after earnings and revenue came in better than estimated. The day's economic data was mixed, with sales of new US single-family homes rising more than forecast in September, but demand for long-lasting US manufactured goods, excluding aircraft, unexpectedly falling in the same month.-Reuters

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"Given the recent gains and the difficulty the market had pushing through the 5,800 level, a pullback to around 5,400 looks increasingly likely in coming days," said Manoj Ladwa, senior trader at ETX Capital. Mining and energy stocks were the worst performing blue chip sectors, falling along with commodities which came under pressure from investors worried that the US Federal Reserve might not feed markets with as much cheap cash to boost growth as they hoped. Demand for longlasting US manufactured goods, excluding aircraft, unexpectedly fell last month and a key gauge of business capital spending plans also eased, underscoring the economic recovery's tepid pace.-Reuters

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compared to Rs23 million previously. Furthermore, finance cost increased by 63.2 per cent to Rs559 million. As on October 27, 2010, an amount of Rs75 billion was outstanding against Wapda (Rs69 billion overdue) and company in turn owes Rs 68 billion to PSO. Additionally, the company has also announced that further delays have been encountered in the commissioning of 214 MW Narowal Project due to a major CVT equipment failure on August 26, 2010. Now, COD of the Narowal plant expansion has been further extended to February 2011.

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choppy," said Prakash Diwan, head of institutional business at Networth Stock Broking. "Weak world markets with doubts over the Fed's actions at the meet next week is also keeping the market subdued," he said referring to the US Federal Reserve's meeting. Tech Mahindra dropped as much as 2.7 per cent to 764.10 rupees after the outsourcer said late on Tuesday second-quarter profit fell more than 10 per cent as it booked a charge related to its shareholding in Mahindra Satyam."Barring a faster-than-expected turnaround at Satyam, we would continue to find it difficult to make a positive investment case for Tech Mahindra and retain hold," a BNP Paribas note said. Leading private sector lenders ICICI Bank and HDFC Bank declined 2.2 per cent and 1.9 per cent respectively. Mortgage lender Housing Development Finance Corp dropped 2.6 per cent. Top lender State Bank of India bucked the trend and rose 0.4 per cent.-Reuters

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The benchmark Nikkei closed up 0.1 per cent or 9.65 points at 9,387.03 after climbing around 0.8 per cent at one point in the morning to a session high of 9,453.79. Meanwhile, the broader Topix inched down 0.02 per cent to 817.76. Hong Kong's benchmark Hang Seng was down 1.65 per cent and China's key Shanghai Composite Index fell 1.46 per cent, weighed down by falls in commodity prices. But the Nikkei gained support as the yen was held down near 82 yen to the dollar by late Asian trading. Japanese stocks have faced pressure from the yen, which firmed to a fresh 15-year peak of 80.41 against the dollar on Monday, approaching a record high of 79.75 yen. Fujitsu Ltd, Japan's largest IT services vendor, recorded a doubling of operating profit in the latest quarter but cut its annual sales outlook as customers rein in IT spending and it copes with a firmer yen. It left its operating profit forecast unchanged.-Reuters

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The seeds were earmarked for farmers who own small plots of land or no land at all. Some fields still remained flooded, Brekke said, adding vegetable seeds and fertilisers were also distributed. The seed distribution means farmers would be able to sow wheat, the main staple crop in Pakistan, during the Rabi planting season that ends in December, whereas other crops would be sown later on in areas currently under water, Brekke said. The FAO aims to help more than half a million farming families in Pakistan.Another 235,000 farming families receive food, medicine and shelter for animals and almost 15,000 families get help to repair small-scale irrigation systems, the FAO said. -Reuters

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would be headed by US Special Representative for Afghanistan and Pakistan and Pakistan Foreign Secretary. Information Minister said that under Kerry Lugar Bill Pakistan would receive five billion dollars in the civilian sectors which would be extendable for another five years and a total of fifteen billion dollars would be provided to Pakistan. Earlier, Economic Coordination Committee (ECC) of the Cabinet has accorded the approval to Pakistan International Container Terminal Ltd (PICT) for setting up coal and clinker terminal at Port Qasim on built, operate and transfer (BOT) basis. According to news reached here, the intimation to the approval has been conveyed to PICT through Port Qasim Authority (PQA). PICT said that the signing of implementation agreement and its schedule will follow in due course. The planned capacity of the terminal, costing $140 million, would be 8 million tones per annum of coal, cement and clinker which can be enhanced to 12 million tons per year. Pakistan International Bulk Terminal Ltd, a wholly owned subsidiary of PICT will sign and implement the project.

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While DAP sales down 37.9 per cent at 681k tonnes versus 1,095k tonnes in 9MCY09 mainly due to higher average prices.

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were 5.82 per cent in previous month. Likewise, lending cost dipped by 4bps on monthly basis to 13.34 per cent.

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Voting began at 9 am and ended at 5 pm. Special security arrangements were in place across Lahore, Karachi, Islamabad, Peshawar, Quetta and Multan for the polls. Official results are expected to be announced on October 30. Jahangir and Ahmad Owais were the main contenders for the office.Asma Jahangir had the support of senior lawyers including Ali Ahmad Kurd and retired Justice Tariq Mahmood. Ahmad Owais has the support of former SCBA president Hamid Khan, alongside others. -Agencies

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two missiles fired by an unmanned aircraft slammed into a vehicle in Datta Khel village, some 50 kilometers west of Miranshah, the main town of North Waziristan. The US drone also targeted a house in Mir Ali, in North Waziristan, killing 4 militants and injuring many others. The injured were taken to the agency headquarters hospital in Miranshah. The sources said that those killed were local militants. It was the sixteen missile strike by an unmanned US spy plane so far this month in North Waziristan while the US drone targeted North Waziristan twenty times last month. -Online

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was led by the convener, Mehmood Ahmed Saghar. A memorandum presented on the occasion demanded immediate withdrawal of Indian forces from occupied Kashmir. Meanwhile, Indian troops opened fire on AJK PPP black day rally at Titri note in Buttel sector on Line of Control (LoC) leaving five persons injured. Talking to media men AJK PPP president Chaudhry Abdul Majeed and central leader Matloob Inqilabi said Wednesday that a rally was organised to observe black day over the atrocities being perpetrated by Indian troops against the people of Kashmir. Military sources have also confirmed this incident saying Indian forces have resorted to unprovoked shelling in Buttel sector. -Agencies

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National Refinery at the end of the day. Buying was also witnessed in the oil giant OGDC over its better result announcement a day earlier and on news that the company would be interested in buying BP Pakistan assets. Therefore positive trend sustained till the closing bells and the index ended above 10,700 points. OGDC hit its highest close in four years by touching Rs154.92 after gaining Rs2.07. Nishat Power was the volume leader with 20.2 million shares traded followed by National Bank 13.12 million shares, Lotte Pakistan 13.03 million shares, Amtex Limited 8.18 million shares, and Jah.Sidd.Co 7.58 million shares. Volumes however were marginally lower as 142.1 million shares traded during the day which is 8.5 million less as compared to a turnover of 150.6 million shares on Tuesday. Out of total 385 active issues 192 advanced and 163 declined while 30 issues remained unchanged.


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Chile co VC calls on President Zardari

Pak still investors’ pick, says President WHO DG meets Zardari, discusses medical assistance

ISLAMABAD: Cameron P Munter Ambassador designate of USA to Pakistan presenting his credentials to President Asif Ali Zardari at Aiwan-e-Sadr. -APP

Turkish power ship on its way to Khi

232MW injection for KESC by Nov KARACHI: Karachi Electric Supply Company (KESC) would soon get 232 megawatts into its system as Turkish company with its largest power-ship will be arriving here by November. The ship owned by Turkish company KARKEY is the largest in size and installed capacity, and will provide electricity to GENCO IV - Lakhra Power Generation Company Limited through KESC network at the Korangi Thermal Power Station. The Turkish company has offered a guaranteed availability of 93 per cent, the highest ever in Pakistan energy projects, and one of the highest efficiencies, to provide "the rental services for 231.8MW net, based on diesel generating sets for 60 months and operation and maintenance services at the 132 kV grid." The KARKEY has also completed the installation of Tower KPS-1 that will connect the power-ship to the Karachi grid. This fast track floating power plant provides proven HFO/NG/Diesel Engine technology, suitable for both peak or base load supply with capability to deliver electricity at 132kV

through its on board grid station which is directly connected to the national grid. Unlike the IPPs and RPPs being constructed on land, the construction of the power-ship was completed in the shipyard to meet the specific requirements of Pakistani power companies. The Turkish company officials say still few pending issues relating to different organisations in Pakistan remained and need to be completed expeditiously, as according to the Rental Services Contract (RSC) technical and infrastructure facilities up to the delivery point have to be provided by the buyer. Underground cable laying of 7.2km and overhead conductor towers and stringing 2.1 km between Korangi Thermal Power Station Substation and Qayyumabad has been completed so far. KEG has a fleet of power-ships ready for commercial operation with an installed capacity of 675MW two of them are currently in operation at Basrah, Iraq, while it is constructing 640MW additional powerships for other countries. -Agencies

$150mn for energy sector promised, says Ashraf

USA going extra mile to help Pak ISLAMABAD: Federal Minister for water and power Raja Pervaiz Ashraf said that United States is assisting Pakistan in the construction and upgradation of dams as well as wind power energy and providing 150 million dollars for such projects. Two billion dollars have been allocated for the energy sector in the Kerry Lugar bill. According to media reports, after returning from the United States, talking to the media Pervaiz Ashraf said that strategic talks with the US have been successful, whereas America has assured Pakistan of its full cooperation to over come the present energy crisis. US is well aware of our energy crisis and is taking keen interest in this sector and is planning on investing in making

small dams and wind power energy in order to generate 150 megawatts of electricity. America is providing 60 million dollars for the construction of Sipara and Gomal Zam dams and another 65 million dollars for the repair and restoration of the power projects. Minister for power also mentioned that the provision of cheap electricity and the construction of new dams were also discussed. Cooperation of the Americans is also expected in the construction of Bhasha Dam. It is expected that more investment would come from the private sector in the energy sector. Minister also said that further meetings will be held next month. -Online

India fears Kashmir separatists may attack

Delhi cops on toes over Obama tour NEW DELHI: India fears that Kashmir separatists could stage attacks during the visit of US President Barack Obama to draw global attention to the region that has been embroiled in a bloody insurgency for two decades. Home Secretary Gopal Pillai Wednesday told CNN-IBN television that country, especially New Delhi was put on high alert to prevent attacks, where US President would address the Indian Parliament. "That's the type of fear we have, that innocent civilians will be killed," said Pillai, the country's top internal security official. "Definitely separatists will like to see if they can have any spectacular event where they can get worldwide attention." Obama is due to visit India in

early November to help boost trade and diplomatic ties with the emerging Asian power. The Himalayan region, claimed in full by India and Pakistan but ruled by the nuclear-armed rivals in part, has in the past four months seen the largest pro-independence demonstrations in two decades. More than 100 protesters have been killed by police, and the outspoken Booker Prize winning author Arundhati Roy last week added to calls for the state to secede from India. Since a violent insurgency broke out in Kashmir in 1989, over 47,000 people have been killed. But international focus on the region has waned in recent years, with attention diverted by the war against militants in Afghanistan and Pakistan. -Reuters

Int'l sugar price may mount to 9-mth high LONDON: Sugar prices could surge above present levels near nine-month highs if further supply tightness or weather problems emerge, Stefan Uhlenbrock, commodity analyst with FO Licht, said on Wednesday. "With sugar stocks having been run down to precariously low levels, prices could explode in case of further problems," Uhlenbrock told the FO Licht Sugar Trade Outlook seminar. Floods in Pakistan raised concerns over tight supplies ICE front-month March raw sugar futures were down 0.27 cent to 27.69 cents a lb, below a 29-year peak of 29.23 cents a lb touched on October 21. Tight global supplies due to adverse weather in key producing countries, combined with resilient demand for the sweeter, have pushed prices higher in recent months. Uhlenbrock said the strong sugar prices could trigger another increase in plantings around the world in 2011/12, potentially leading to bumper output next year. He predicted that world sugar See # 3 Page 11

ISLAMABAD: President Asif Ali Zardari said Wednesday that incentives offered by the government such as legal protection of investments, permission of 100 per cent foreign equity, equal treatment to foreign as well as domestic investments make Pakistan an attractive place for investors. He was talking to Andr nico Luksic Craig, Vice Chairman of Banco de Chile, who called on him at Aiwan-eSadr. Saleem H Mandviwalla, minister of state and chairman board of investment was also present during the meeting. The president, during the meeting, appreciated his interest in exploring possibilities of investment in Pakistan, saying that Pakistan's banking industry had a tremendous potential for further investment in financial sector. He urged Chilean investors to take advantage of the attractive investment opportunities offered by the

government of Pakistan. The president said that government would provide all possible help and support to facilitate their smooth operations in Pakistan. He said that Pakistan had achieved macroeconomic stability over the past two years which resulted in the economic recovery. He said that a large market of over 170 million people and strategic location of the country being at crossroads of South Asia, Central Asia and West Asia offered great opportunities for investment. Andr nico Luksic Craig thanked the president for the meeting and expressed his keen interest in exploring the possibilities of investment and operations in Pakistan. Furthermore, Dr Margaret Chan, WHO Director General called on President Zardari and discussed matters relating to medical facilities in flood-affected areas. Dr Hussein A Gezairy, WHO Director of the Eastern

Mediterranean Region, Dr Guido Sabatinelli, Representative WHO, Dr N'ima Abid medical officer WHO, also accompanied her during the meeting. Pakistan side included Salman Faruqui, Secretary General to the President, Chairperson BISP Farzana Raja, Lt Gen (R) Nadeem Ahmed, Chairman NDMA, Khushnood Akhter Lashari, Secretary Health and other senior officials. They discussed steps for rehabilitation of medical facilities and controlling outbreak of diseases in flood hit areas. The president appreciated WHO not only for its swift response in meeting the challenges of the floods in collaboration with local authorities but also for sensitising the international community and drawing their attention to the precarious health issues in the flood affected areas. He lauded the contribution of World Health Organization in the See # 1 Page 11

Sharif asks govt to mend ways PESHAWAR: PML-N Leader Mian Nawaz Sharif said that President Asif Ali Zardari does not understand spirit of charter of democracy, adding government should reform its ways before the angry public took to roads to get it done. Talking to media here at house of Iqbal Zafar Jhagra, Nawaz Sharif said that meeting between PPP and PML-Q would not have any impact on PML-N however the politicians

should respect certain limits while doing politics. He said that government should act on Supreme Court's verdict and take steps to eliminate poverty, unemployment and corruption. He alleged that former president Pervez Musharraf compromised on the country's sovereignty. He denied the statement associated with his name that reunification of Muslim Leagues is impossible in

presence of Shaikh Rasheed and Chaudhry brothers. He said that PML-N never wants clashes between parliament and judiciary. He said that good governance should be observed in the country and problems faced by the country should be resolved on priority basis. He further said that recent transparency international report shows that corruption is flourishing in See # 2 Page 11

India wants to sort out issues with Pak: Singh KUALA LUMPUR: Prime Minister Manmohan Singh has said India wants to resolve all outstanding issues with Pakistan through dialogue for the sake of "peace and prosperity of our people". He also rejected the notion of American tilt, saying that in an inter-dependent world, India wants good relations with "all the major super-powers" like the US, Russia and China in its own "enlightened national interests". In an interview to Malaysia's 'New Straits Times' ahead of his visit here that began Tuesday, Singh said, "India is committed to resolving all outstanding issues with Pakistan through dialogue in the interest of peace and prosperity of our people.-NNI

US talks based on our interests: FM LAHORE: Foreign Minister Shah Mehmood Qureshi Wednesday said talks with US were based on Pakistan's interests, and vowed to pursue the same agenda. Talking to media at Lahore Airport, FM said there is no solution for the rumours in the air about the likely military operation in North Waziristan, reported a private TV channel. Qureshi said Pakistan's foreign policy is being made by the government and the foreign ministry, while the provinces are also being taken on board in this regard. -Online

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The Financial Daily-Epaper-28-10-2010