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International Karachi, Saturday, March 26, 2011, Rabi-us-Sani 20, Price Rs12 Pages 12

Headway in efforts to alleviate poverty

Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Jan 10) LSM Growth (Jan 11)

GDP Growth FY10E Per Capita Income FY10 Population

$17.50bn 14.33% $15.33bn $25.60bn $(10.27)bn $(98)mn $6.96bn $1.23bn Rs 765bn $58.39bn Rs 5497.4bn $338.2mn 0.83% 4.10% $1,051 175.54mn

SCRA(U.S $ in million)

181.30 -14.64 -2.52 2912

Total Portfolio Invest (12-Mar-2011)

NCCPL 4.93 -0.50 1.15 -1.97 -0.07 -3.90 0.36 Change 76.19 14.46 89.88 144.58 3.97 1.77 59.48 77.80

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 2.60 110.87 13.70 116.84 2.00 42.64 2.38 50.75 10.80 36.84

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)

09-Mar-2011 09-Mar-2011 09-Mar-2011 29-Nov-2010 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011 24-Mar-2011

13.39% 13.69% 13.86% 14.00% 13.48% 13.52% 13.72% 14.12% 14.24% 13.97% 14.00% 14.00% 14.42% 14.65% 14.88%

Commodities *Crude Oil (brent)$/bbl 115.40 *Crude Oil (WTI)$/bbl 106.17 *Cotton $/lb 200.52 *Gold $/ozs 1,446.10 *Silver $/ozs 38.09 Malaysian Palm $ 1,045 GOLD (NCEL) PKR 39,534 KHI Cotton 40Kg PKR 12,860 Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)

Australian $ 85.85 Canadian $ 86.50 Danish Krone 16.20 Euro 120.70 Hong Kong $ 10.50 Japanese Yen 1.040 Saudi Riyal 22.63 Singapore $ 67.10 Swedish Korona 13.50 Swiss Franc 93.00 U.A.E Dirham 23.18 UK Pound 138.20 US $ 85.25

86.85 87.50 16.40 121.90 11.00 1.066 22.80 68.10 13.80 94.00 23.38 139.70 85.60

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

86.43 86.86 16.09 119.99 10.94 1.053 22.73 67.42 13.43 93.63 23.21 138.42 85.33

86.54 87.06 16.13 120.27 10.96 1.055 22.79 67.58 13.46 93.85 23.26 138.75 85.52

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

31°C 33°C 33°C 32°C 27°C 32°C

ISLAMABAD: President Asif Ali Zardari addressing during a special function on Pakistan Sweet Homes organised by Pakistan Bait-ul-Mal at Aiwan-e-Sadr. -APP

Sitting at FO reviews Brussels meet decisions

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Special buses to be run form Wagah for Pakistani fans Houseful in Chandigarh for clash of traditional rivals

(U.S $ in million)

FIPI (24-Mar-2011) Local Companies (24-Mar-2011) Banks / DFI (24-Mar-2011) Mutual Funds (24-Mar-2011) NBFC (24-Mar-2011) Local Investors (24-Mar-2011) Other Organization (24-Mar-2011)

Quake kills 74 In Myanmar

Singh crickets diplomacy

Portfolio Investment Yearly(Jul, 2010 up to 21-Mar-2011) Monthly(Mar, 2011 up to 21-Mar-2011) Daily (21-Mar-2011)

UN urged de-blacklist some Taliban leaders

Indian PM invites Zardari, Gilani for Indo-Pak match

Economic Indicators Forex Reserves (19-Mar-11) Inflation CPI% (Jul 10-Feb 11) Exports (Jul 10-Feb 11) Imports (Jul 10-Feb 11) Trade Balance (Jul 10-Feb 11) Current A/C (Jul 10- Feb 11) Remittances (Jul 10 - Feb 11) Foreign Invest (Jul 10-Feb 11) Revenue (Jul 10 Jan 11)

President Zardari drops Deedar reappointment stance

FoDP status touchstoned ISLAMABAD: Advisor to the Prime Minister Senator Sughra Imam Friday proposed to create a roadmap for a strategic approach to develop institutional partnerships with Friends of Democratic Pakistan (FoDP) members to ensure early implementation on the promised projects. Addressing a meeting held here at Foreign Office, she emphasised the need for institution capacity building in security, education, energy and democratic institutions. Senator Imam thanked the Government of Turkey for offering to host a meeting of the Working Group of institution building during in the coming months. The meeting to review FoPD projects status was chaired by Additional Foreign Secretary Abdul Basit and attended by FoDP ambassadors and representatives based in Islamabad. The meeting reviewed progress on the decisions made during the Third FoDP Ministerial Meeting held in Brussels on October 15, 2010. It took stock of the ongoing work on Institution Capacity Building, Energy Sector Recovery Report and PostCrisis Needs Assessment as part of Malakand Development

Strategy, as well as the way forward on these and other proposed projects. A representative of the Ministry of Water and Power briefed the meeting on the initiatives and the reform process of the government for a sustainable power sector. He explained the five key areas of reform agenda including governance and efficiency, regulation, financial issues, fuel mix and investment. In their presentations, the representatives of Khyber Pakhtunkhwa government informed on the development measures being taken by the KP government on the basis of Post-crisis Needs Assessment, emphasising on the need to translate PCNA recommendations into programmes and projects with sustainable funding commitments. Additional Secretary Abdul Basit informed the meeting that in line with the earlier decisions of FoDP members, the Government of Pakistan has established a Water Sector Task Force which will present its report/plan in the next Ministerial Meeting for endorsement. The next review meeting of the FoDP is expected in April or May 2011.-Online

Mkt buzz bets on dovish SBP KARACHI: All eleven analysts polled by Reuters expect State Bank of Pakistan will leave its key policy rate unchanged at 14 per cent when it meets on Saturday for the subsequent two months because of an improving external current account and some respite in government borrowing. TFD analyst stands eye to eye with the above consensus owing to decline in growth rate of inflation at 12.91 per cent in February 2011, fiscal measure taken to collect Rs45 billion in last quarter, borrowing from SBP reduced and decline in current account deficit. TFD analyst says, government has taken fiscal measures by imposing 15 per cent income tax surcharge, raising federal excise duty from one per cent to 2.5 per cent and imposing General Sales Tax on fertilisers and tractors which would fetch around Rs45 billion, this would improve rev-

enue to curtail fiscal deficit at 5.5 per cent of GDP. Similarly, outstanding stock of government borrowing from SBP has reduced to Rs1.34 trillion by 5th March, 2011 against Rs1.5 trillion in midDecember 2010. Country's current account deficit for July-Feb period was a provisional $98 million, compared with a deficit of $3.027 billion in the same period last year, which makes a strong case for the SBP to keep the key policy rate flat. The increase in government borrowing which was as high as 329 billion rupees ($3.86 billion) from July 1 to Dec 11, has now narrowed to 116 billion rupees ($1.36 billion). The consumer price index in February rose 12.91 percent from a year ago, but was down 0.74 per cent from January because of a decrease in food prices. Analysts think the State Bank of Pakistan can give See # 5 Page 11

NZ send SA packing in ICC WC semi DHAKA: New Zealand stunned South Africa on Friday by knocking the form team out of the World Cup in the quarterfinals and extending their opponents' miserable record in the tournament. South Africa have now lost all five of their knockout matches since they first played at the tournament in 1992 while underdogs New Zealand advanced to the semi-finals for the sixth time. Man-of-thematch Jacob Oram took two brilliant catches and captured four for 39 with his naggingly accurate medium pace after the South Africans appeared to be cruising to victory in pursuit of a modest victory target of 222. "We've got a talented bunch of players but unfortunately we are also inconsistent," Oram said at the victory presentation. "But I've never been prouder to be in that dressing room and have a silver fern on, considering we were written off before this game." The South Africans had reached 108 for two shortly before the halfway point with their premier batsman Jacques Kallis well set on 47. But Kallis was magnificently caught on the boundary by Oram off Tim Southee, JP Duminy was bowled for three and AB de Villiers run out two balls later for 35 by an extraordinary stop and throw by Martin Guptill. -Reuters

Law to bust prize bond numbers' sale soon ISLAMABAD: The Senate Standing Committee on Law, Justice Human Rights and Parliamentary Affairs has directed the ministries of Law and Finance to draft a legislation against illegal sales of prize bond numbers. Senator Muhammad Kazim Khan chaired the meeting at the Parliament house on Friday in this regard. The committee discussed the bill titled" The Criminal Law (Amendment) Bill, 2010" and directed the ministries to implement the current laws, envisaging 10 years imprisonment and 0.5 million fine for those found guilty of this illegal business. The committee also reviewed progress on the proposed law deciding to bring changes in the current laws to end such practices. The meeting was See # 4 Page 11

ISLAMABAD: Indian Prime Minister Manmohan Singh has invited Pakistan’s President and Prime Minister to watch India-Pakistan cricket world cup semifinal at Mohali with him, scheduled to be held on March 30. According to Indian media reports, the Indian PM has proposed to be at Mohali for the same. “There is a huge excitement over the match and we are all looking forward to a great game, that will be a victory for the sport”, he said. He added that it would be a great pleasure for him to invite Pakistani leaders to Mohali to join him and millions of fans from the two countries. Pakistan Foreign Office has confirmed that the invitations have been received but no decision has been taken so far. Meanwhile, It is already housefull in and around Chandigarh for March 30 when

the semifinal of the cricket world cup takes place. Hotels are completely packed ahead of the clash between India and Pakistan. Amid the euphoria over the match at the Punjab Cricket Association (PCA) stadium in Mohali, all hotels --budget or upscale ones-- have been booked for March 29 and 30. Visitors are having great difficulty getting a hotel room which is near impossible on these dates. More than half of the room inventory is reserved for the playing teams, officials and staff from the International Cricket Council (ICC), the Board of Control for Cricket in India (BCCI) and the Punjab Cricket Association (PCA) at Chandigarh's top level hotels - Hotel Taj and Mountview. 'We have set aside more than 120 rooms at Mountview and 70 at Shivalikview for PCA

Asian Development Bank's Trade Finance Programme

ADB’s TFP tempts more local banks MANILA: Two more Pakistan banks have signed up to the Asian Development Bank's (ADB) Trade Finance Programme (TFP) which should make it easier for companies to import critical goods into the country and export other products. The participation of NIB Bank Ltd and Soneri Bank Ltd in the TFP means there are now 13 Pakistani banks signed up to the programme. The TFP provides finance and guarantees through banks to support trade transactions in developing countries. Companies and banks in emerging markets often have difficulties accessing trade finance which undermines trade and slows economic growth and job creation. Last year, the TFP supported $2.76 billion in trade in emerging Asia. Pakistan's share of that was $832.6 million, the most among ADB's developing

member countries. The TFP focuses its resources on Asian countries most in need of trade finance support and therefore does not assume risk in relatively developed markets such as the People's Republic of China, India, Malaysia, and Thailand. "By expanding the reach of the Trade Finance Programme in the Pakistan banking sector, we will help make trade finance available where necessary to an even wider array of firms, including small and medium-sized enterprises," said Robert van Zwieten, Director in ADB's Private Sector Operations Department that oversees the TFP. Smaller firms typically have more trouble than larger, wellknown companies in accessing trade finance from banks because they have a limited credit history or because banks prefer to lend to known See # 1 Page 11

WB to give $400mn for education sector KARACHI: The World Bank approved a $400 million (248 million pound) loan on Friday for country's flailing education system, one of the world's worst where the country spends less than 1.5 per cent of its gross domestic product (GDP) on schooling. The World Bank said $300 million would go to projects at the university level and $50 million each for provincial reform projects at the primary school level in Punjab and Sindh. "Pakistan's transition to a middle-income country in the

global knowledge economy of the 21st century will depend critically on the country's intellectual and human capital," said Rachid Benmessaoud, World Bank Country Director for Pakistan. "To achieve this objective, Pakistan needs to upscale its entire education system." This loan comes at a time when country is going through what the independent Pakistan Education Task Force said was an "education emergency" and See # 3 Page 11

officials,' Chandigarh Industrial and Tourism Development Corporation (CITCO) general manager Arvind Malhotra told IANS. 'In addition to this, keeping at least 15 per cent of the rooms booked for our corporate clients is a routine affair. Mostly, these bookings run two-three months in advance,' he said. 'Considering so many reservations this month, it has become difficult to accommodate other clients. Our booking counters have been flooded with reservation calls for the last 15 days,' Malhotra added. The situation is similar at Hotel Taj where the two teams would be staying. Nearly 70 per cent of the rooms available for general visitors had been booked two months ahead of the start of World Cup in February. Agencies

CJ warns on transparency compromise ISLAMABAD: Supreme Court has asked the Planning Commission to submit details of the contracts for Islamabad and Peshawar security projects, local media reported. The Apex Court bench headed by the Chief Justice Iftikhar Muhammad Chaudhry heard the petition against 'Safe City Projects' filed by Shahid Orakzai here on Friday. The petitioner pled that transparency was compromised while finalising these contracts. Deputy Chairman, Planning Commission told the court that the safe city projects’ plan was still in the phase of final approval. The attorney of the interior ministry submitted that China was providing loan for this

SC adjourns waived bank loans case project. The court was also told that the project to make Islamabad safe would cost $7124 million. The Chief Justice in his remarks said that the cities should be made safe, but the transparency of the projects should not be compromised. A former deputy chairman of the Planning Commission had also opposed the safe city projects, he added. Later, the court demanding details of the contracts adjourned the hearing for four weeks. Meanwhile, the Supreme Court was informed that Justice Saleem Akhtar has refused to head the commission formed to examine cases regarding written off loans. According to media reports, a bench of the apex court headed by chief Justice Iftikhar See # 2 Page 11


2 Saturday, March 26, 2011

PIA Senate chief industrial home for furthering inaugurated Pakistan-Cuba ties TFD Report

ISLAMABAD: Pakistan attaches great importance to its relations with Cuba, which are based on mutual understanding and similarity of perspectives. This was stated by the Chairman Senate, Farooq H. Naek while talking to Jesus Zenen Buergo Concepcion, Ambassador of Cuba who called on him at the Parliament House here on Friday. The Chairman thanked and appreciated Cuba's generous relief assistance provided in the aftermath of devastating earthquake in October, 2005, and Cuban solidarity during devastating floods in Pakistan. He also appreciated and express satisfaction over the ongoing Cuban Scholarship Programme, in which currently 911 Pakistan students are studying medicine in Cuba as part of its offer of 1000 scholarship in the wake of October 2005 earthquake. The Chairman said Pakistan values the support of Cuba and other countries

in promoting the agenda of interfaith harmony in the UN. We hope to continue to work towards that end, he added. He emphasised the need to provide substance to bilateral economic and trade relations. The Chairman, while expressing satisfaction over the Pakistani pharmaceutical companies, which are doing business with the Government of Cuba, said we would like to enhance our cooperation in the field of transfer of biotechnology. During the meeting matters pertaining to the possibility of sharing Cuba's experience in education, health and energy sectors also came under discussion The Chairman underscores the need for enhanced exchange of Parliamentary delegations between the two countries to promote people-to-people contacts. Such visits will help promote greater cooperation between the two Parliaments. The Chairman Senate informed the

Brand new jeanswear enters Asia

KCCI to join for uplift of PR

Staff Reporter KARACHI: Levi Strauss, the global leader has unveiled its new brand, dENiZEN, offering great fitting, quality jeanswear for the new generation. With its global headquarters located in Hong Kong, dENiZEN is the first brand from Levi Strauss to debut outside the USA. "This is the birth of a new history for Levi Strauss & Co. in Asia," said Aaron Boey, president, Levi Strauss, Asia Pacific Division.

Staff Reporter KARACHI:A meeting of Communication and Transport Sub-Committee of KCCI, under Talat Mahmood, Senior Vice President, said that since the last 40 years, we have been hearing about Pakistan Railways (PR) decreasing its revenue and reaching loss of Rs26 billion last year. We are now keen to see profitable future of PR and welcome the idea of attracting private sector investment for PR. "KCCI and Pakistan Railways will sign an understanding to work

Ambassador that Senate of Pakistan has very effective Pakistan - Cuba Friendship Group, while the Ambassador said Cuba is also planning to create a Cuba - Pakistan Friendship group in its Parliament soon and invited the Chairman Senate to grace the occasion. While reciprocating the sentiments, the Ambassador thanked the Chairman Senate for the hospitality and warm welcome and expressed the confidence that the friendly relations between Pakistan and Cuba would further strengthened with the passage of time. He assured that he will make all possible efforts to further consolidate the existing friendly relations between the two countries. On the occasion, the Chairman wished him all successes in his diplomatic assignment and assured him of Government's full support in the discharge of his official responsibilities.-NNI

jointly in coming months" Junaid Esmail Makda, Vice President of Karachi Chamber of Commerce & Industry (KCCI) assured M. Ishfaq Khattak, GMOperations, PR in the meeting. While in his address, he briefed about KCCI and its association with other 5 town Industrial areas of the biggest metropolitan city of the country and how it works and perform its duties and responsibilities. He also appreciated well organized presentation presented by Ishfaq Khattak with in-depth knowledge on Railways and suggestions for removal of losses.

KARACHI: Mrs. Zareen Khan Yousufzai, wife of MD PIA, Nadeem Khan Yousufzai inaugurated the PIA Industrial Home at the airline's headoffice here on Friday. On the occasion, Managing Director PIA, Nadeem Khan Yousufzai expressed his views and forwarded his full support for this new project of PIA Industrial Home. "We must endeavor best of our abilities in order to restore the positive image of the National Flag Carrier," said MD PIA. He said that PIA has always supported the role of women in the organisation. It is the vision of Shaheed Benazir Bhutto that has been taken up by the management of PIA and over the years, the number of female employees in the National Carrier has increased. While working as a family, we believe in giving more power to the women in the airline, and support them in their efforts to make a healthy working environment within the organisation.

BQATI rejects 2 holidays per week Staff Reporter KARACHI: Bin Qasim Association of Trade and Industry (BQATI) has expressed serious concerns over the proposal to observe two holidays a week. "Two holidays in a week would hamper business and industrial activities," BQATI Patron-in-Chief and Founder President Mian Muhammad Ahmed and Founder Vice President BQATI, Usman Ahmed said in a press release on Friday. He urged the government not to implement the proposal apparently meant for conserving energy.

ISLAMABAD: President Asif Ali Zardari distributing prizes among the children of Pakistan Sweet Homes during a special function of Pakistan Bait-ul-Mal held at Aiwan-e-Sadr on Friday. Staff Photo

SECP planning stern action against defaulter cos Staff Correspondent ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has decided to take penal action against defaulter companies, which have not benefited the amnesty schemes. In this regard a list of almost 12,438 defaulters companies has been placed on SECP's web site. The SECP had launched companies regularisation scheme (CRS) and easy exit scheme (CEES) during the period from July to Dec 2010, and the companies were advised to regu-

MAP award for Shan Foods KARACHI: The Marketing Association of Pakistan (MAP) recently organised its Annual Dinner and Excellence Award Ceremony. Sikandar Sultan, MD, Shan Foods was awarded the MAP Excellence Award on account of his relentless contributions towards the local food industry .-PR

larise their defaults through filing of overdue returns under the CRS or strike their companies off the register under the CEES. However, despite providing sufficient time and extensive awareness campaigns, it has been observed that a number of defaulter or defunct companies still exist on the companies register. Keeping this in view, the SECP is initiating a detailed action plan. In a First Phase of it a List of 12,438 defaulter companies has been placed on the SECP website. Defaulter companies are once

Shahbaz approves new posts in Health Dept Staff Correspondent LAHORE: Chief Minister Punjab Muhammad Shahbaz Sharif has given approval for creating 198 new posts in the Health Department for regularisation of Assistant Professors, Senior Medical Officers and APMOs who were working on contract bases in the department. Whereas the cases of Associate Professors and Professors would be sent to Public Service Commission for regularisation.

KARACHI: Shaikh Talat Mahmood, Senior Vice President (KCCI) is seen presenting the Chamber crest to M. Ishfaq Khattak, GM operations Pakistan Railways at a meeting at Aiwan e Tijarat. -Staff Photo

SAFRON-UNHCR survey

Verification of Afghans in Pak ISLAMABAD: The UN refugee agency in association with the Ministry of SAFRON is undertaking the Population Profiling, Verification and Response (PPVR) household survey on registered Afghans in Pakistan to examine their livelihoods, health, social conditions and legal problems. The data from this survey will provide important new information on the situation for this longstanding population in Pakistan who mainly fled various waves of conflict in their country over the past three decades," said Mengesha Kebede, the UNHCR Representative in Pakistan. "The information will help inform UNHCR, the Pakistan and Afghanistan governments, and development agencies better plan their policies and respond to the situation," Kebede continued.-Online

LAHORE: Masood Hashmi, President Marketing Association of Pakistan, presenting shield to Asad Umer, President Engro Corporation, on the occasion of Marcon International Marketing Congress ceremony. Salman Amin Chief Marketing Officer Pepsi Co. -Staff Photo

for cultivation or even for human/cattle consumption. During the field visit, the Members of the Commission met the flood affected people in Dera Allah Yar. The Commission also had an aerial view of the damaged infrastructure. It was pointed out to the Commission that Kirther Canal suffered a major destruction during the floods. On receipt of the interim report the Chief Justice of Pakistan who is heading the Bench of the Supreme Court ceased with this matter has fixed the case for March 28. Notices have been issued to all concerned including the petitioners to appear on the said date.-NNI

Philanthropists moot concludes Staff Reporter KARACHI: The 4th World Congress of Muslim Philanthropists was held at the Shangri-La Hotel, Dubai, recently under the theme of "Defining the Roadmap for the Next Decade" The World Congress of Muslim Philanthropists (WCMP) is a global network of donors, foundations, and socially responsive corporations established to advance effective and accountable giving. WCMP is a unique catalyst for partnership across public, private and social sectors, offering information and resources to link donors with social investment opportunities. As a trusted broker of collaborative relationships, WCMP mobilses financial and human

resources to address global issues and advance efficient philanthropy. The 4th World Congress initiated a dialogue around the potential roadmap for Muslim philanthropy in the next decade. Against the backdrop of current developments in Muslim world, the forum delineated a comprehensive strategy for philanthropy that will foster social and economic development, strengthen philanthropic institutions, and empower individuals, particularly the young generation, to play a constructive role in advancing positive social change in their societies. The discourse was enriched by the collective wisdom and experience of distinguished public and private sector leaders, philanthropists, and intellectuals who participated in Dubai.

It was stated in the summary approved by the Chief Minister Punjab presented in the Lahore High Court by the attorney of Health Department Punjab. The case of regularisation of Assistant Professors is in under-hearing in Apex court of Justice Hussain Umer Atta Bindial. The Health Department took the stance that 70/80 Assistant Professors and 90 Senior Medical Officers/AMPOs who did not get regularised in 2009, are being regularised as the CM Punjab has given approval to create 198 such posts.

Intel launches second generation processor TFD Report

Flood Commission submits report to SC ISLAMABAD: The Flood Commission comprising members representing each province after conducting the field visits of the flood affected areas in the provinces of Sindh, Balochistan and Southern Punjab has submitted an interim report to the Supreme Court of Pakistan. In the interim report the Commission has pointed out that the irrigation infrastructure in the province of Balochistan suffered a major damage during the July 2010 floods. Most part of that infrastructure has still not been repaired. This is causing major problems to the people of the affected areas especially in the Jaffarabad Division as the water is not available

again advised in their own interest to regularise their default other wise action under section 439 of the Companies Ordinance, 1984, shall be taken to strike off the defunct companies not carrying on business or not in operation, from the register of companies. Defaulter companies have once again advised in their own interest to regularise their default otherwise action under section 439 of the Companies Ordinance, 1984, shall be taken to strike off the defunct companies not carrying on business or not in operation, from the register of companies.

KARACHI: Managing Director Shan Foods Sikandar Sultan receiving MAP excellence award from the chief guest. -Staff Photo

KARACHI: With more than on million computers selling each day, Intel Pakistan introduced its game-changing second Generation Intel Core processor family . More than 500 desktop and laptop PC designs are expected from all major OEMs worldwide throughout the next year. New features include Intel Quick Sync Video, and a new version of the company's award-winning Intel Wireless Display (WiDi), which now adds 1080p HD and content protection for those wishing to beam pre-

mium HD content from their laptop screen to their TV. "The new 2nd Generation Intel Core processors represent the biggest advance in computing performance and capabilities over any other previous generation," said Naveed Siraj, Country Manager, Intel Pakistan. "The built-in visual capabilities enabled by these new processors are stunning. This, combined with improved adaptive performance, will revolutionize the PC experience in a way that is obvious for every user to see and appreciate - visibly smarter performance."

LG’s Wireless Charging Pad KARACHI: (L-R) Secretary Health, Govt. of Sindh, Syed Hashim Raza Zaidi (2nd from left) cuts the ribbon to mark the formal inauguration of Trust for vaccines and Immunization’s (TVI) Typhoid Vaccination Campaign in Jamshed Town. -Staff Photo

KARACHI: LG Electronics (LG) has announced the launch of LG Wireless Charging Pad (WCP-700), featuring a sleek and sharp design. LG Wireless Charging Pad is poised to revolutionise wireless charging as we know it. With inductive coils built into the battery doors and internal contacts, advanced wireless charging technology allows for a cord-free power source - alleviating the need for external connections that limit the phones usability. -PR


3

Saturday, March 26, 2011 Previous Day

Euro weakens against USD on Portugal apprehensions S&P's downgrades Portugal; traders watch EU summit NEW YORK: The euro slipped against the US dollar on Friday and could remain under pressure in the short run on concern about a worsening debt crisis in Portugal following the collapse of the country's government. While a pullback is likely, traders said the euro should be supported as long as it holds above $1.40. Expectations of a euro-zone interest rate rise next month have helped the single currency's resilience despite worries about heavily indebted Portugal and Spain. The euro was last down 0.3 per cent at $1.4135, having earlier hit a session low of $1.4111 on trading platform EBS. Portuguese debt yields hit new highs on Friday after Standard & Poor's downgraded the country's credit ratings and warned it could cut them again. Investors were also disappointed after EU leaders

delayed finalizing a package set up to bail out failing peripheral economies. "For most of the week the market has treated Portugal as an isolated problem that will not spread to other parts of Europe, but this sentiment is losing popularity very quickly," said Kathy Lien, director of currency research at GFT in New York. The euro's failure to break through option barriers around $1.4250 this week has seen some traders cut back long exposure. Further resistance lies near $1.4280, the November high. Support is seen around $1.4036, the high set on March 7.

Technical analysts said a weekly close above $1.4200 would leave it well positioned for a further rise. European leaders reached agreement

on a new package of anti-crisis measures at a two-day summit but were forced to delay increasing their rescue fund and acknowledged they faced new threats from a government collapse in Portugal. The higher-yielding Australian dollar hit a 29-year peak of against the US currency at $1.0294 after gains triggered a

Asian currencies

series of automatic buy orders around $1.0260. The Aussie dollar was boosted by an increase in risk appetite, with high Australian interest rates enhancing its appeal for global investors. Data on Friday showing the US economy grew more rapidly than previously estimated in the fourth quarter boosted optimism about the recovery and supported the greenback. The dollar was up 0.2 per cent at 81.13 yen, but any rise is expected to be capped by reported offers at 81.30-45 yen, with resistance also coming from the 21-day moving average around 81.49 yen. Investors' attention now shifts to March US nonfarm payrolls data, due out next Friday. Economists polled by Reuters are expecting job gains of about 190,000. -Reuters

Yuan hits record high

Won, ringgit up on oil on PBOC guidance retreat; cbanks may cap falls Taiwan cbank seen buying USD at T$29.725: dealers SINGAPORE: The South Korean won and Malaysian ringgit rose on Friday as oil pulled back from $120 a barrel and on views that regional central banks may stem currency falls, but traders said emerging market currencies remained vulnerable to further volatility in energy markets. "There will still be uncertainty, so I won't turn bullish on Asian currencies," said Pin Ru Tan, emerging markets forex and rates strategist at the Royal Bank of Scotland in Singapore. Emerging Asian currencies fell not only against the dollar but also the yen and the euro as investors continued to seek the relative safety of developed markets and shifted away from emerging Asian markets. Some traders took comfort in the view that regional foreign exchange authorities may inter-

vene to stem currency falls and to reduce inflationary pressures. Dollar/won fell as investors cleared long positions in the pair and exporters chased it for endmonth settlements. "It was difficult to stay above 1,130 on exporters' deals. And I don't think the authorities would be happy with the pair's further gains given the oil price issue," said a foreign bank dealer in Seoul. Earlier, South Korea's vice finance minister said the inflation environment had grown more difficult from late last year both at home and abroad. South Korea's foreign exchange authorities have been viewed as more keen than other central banks in the region to keep their currencies weaker for export competitiveness. Dollar/Taiwan dollar erased most rises after the central bank

Stg hits 2011-low against euro LONDON: Sterling hovered close to 2011 lows versus the euro on Friday and was poised for further losses on concerns over UK economic growth and uncertainty over the timing of a Bank of England rate hike. The single European currency narrowly extended its 1 per cent rise on Thursday when weakerthan-expected UK consumer spending data raised concerns over growth which could fur-

growth to 1.7 per cent for this year in his budget statement on Wednesday, while Thursday's weaker retail sales data was a reminder that the UK consumer is being hit by a fiscal squeeze and rising inflation. Money markets are now pricing in the first rate hike in the UK for August. On Tuesday, after inflation jumped to its highest in two-and-a-half years, they had expected the first hike in July.

ther push back the timing of an interest rate rise from the Bank of England. "The pound is under pressure. Weak retail figures, a somewhat dovish tone from the MPC minutes on Wednesday as well as George Osborne cutting the UK growth outlook and rate hike expectations being pushed back, are putting sterling on the backfoot," said Geraldine Concagh, economist at AIB Treasury Group. UK finance minister George Osborne downgraded the government's projections for UK

The euro rose to 88.12 pence, its highest since Nov. 4. It later eased to 87.85, close to unchanged on the day. Sterling extended its retreat from a 14-month high against a broadly firmer US dollar, trading down around 0.4 per cent at $1.6052. "Cable will possibly push a little lower over the next few days, but 1.5960 is seen as a solid support level. It was tried in February and March but cable continues to hold above," said Daragh Maher, head of global foreign exchange at Credit Agricole CIB. -Reuters

was spotted selling US dollars and some foreign banks took profit from the pair's recent rally. The central bank's dollar sales were seen around between 29.830 and 29.900 and estimated selling more than $100 million in the morning, reducing upward pressure on USD/TWD, dealers said. Earlier, dollar/Taiwan dollar rose as much as 0.5 per cent to 29.905, the highest since Jan. 7, on demand liked to foreign investors' continuous stock sales. Foreign investors have sold a net T$97.1 billion ($3.26 billion) so far this month, compared with total net purchases of T$99.3 billion in January. Dollar/ringgit fell as investors were relieved by weaker oil prices, but dealers were not confident on if the pair would fall more. -Reuters

Swiss franc lower vs euro, USD ZURICH: The Swiss franc trended lower against the euro and the dollar on Friday as traders began to raise allocations to risky assets, easing off positions in the franc, seen as a safe haven in choppy markets. "For a couple of weeks unresolved problems in the euro-zone have not been putting the markets under the same pressure as before. It seems even if Portugal triggers a rescue package, it's priced in," said Commerzbank analyst Lutz Karpowitz. "The franc is mainly euro-driven right now, and there has been no major impact from risk aversion driven by the downgrade. Equity markets are quite positive, the risk on trade seems to be gathering speed," Karpowitz said. Swiss National Bank board member Jean-Pierre Danthine said on Thursday that the SNB has the right tools to maintain stable prices and absorb the billions of francs it pumped into markets via its interventions in 2009 and 2010. The franc was 0.3 per cent weaker against the euro compared to the New York close, trading at 1.2913 francs per euro at 0810 GMT. The franc was 0.4 per cent lower against the dollar at 0.9118 francs per dollar. -Reuters

Aussie eyes 29-yr peak vs dollar, NZD holds firm SYDNEY/WELLINGTON: The Australian dollar held within striking distance of a 29-year peak against a broadly softer greenback on Friday, underpinned by improving risk appetite and upbeat news on Australia's mining sector, while the New Zealand dollar hovered at three-week highs. The Aussie last traded at $1.0205, having risen as high as $1.0229, nearing the Dec. 31 peak around $1.0257 -- a level not seen since 1982. It has gained 2.5 per cent over the week. Support is pegged at $1.0162 with resistance at $1.0248. Traders said the Aussie had benefited from large cross-border merger and acquisition flows this week stemming from a complex deal between AMP and AXA to buy AXA Asia-Pacific. News that BHP plans to spend $9.5 billion to expand its iron ore and coal mining operations in Australia, the first details the global miner has given

of a planned $80 billion in investments over five years, further helped lift sentiment for the Aussie. The Aussie was little changed against the New Zealand dollar at NZ$1.3601, having bounced off a one-week low around NZ$1.3550 plumbed on Thursday. The kiwi was steady around $0.7500, after earlier climbing as high as $0.7520 as risk buying returned to favour. It had also been lifted by a relief rally following positive growth numbers on Thursday, recovering from a near seven-month low of $0.7125 hit last week. The NZ dollar has gained about 2.8 per cent this week, and momentum backs further gains. It has broken above $0.7476, a level representing the 50 per cent retracement of the Feb-March fall. Resistance is now seen between $0.7550 and $0.7570. -Reuters

SHANGHAI: The yuan closed up against the dollar on Friday after setting a record high, buoyed by the People's Bank of China fixing its daily midpoint at a new peak. The PBOC has fixed a slew of record high mid-points since the start of this year, indicating the government may be using the currency's exchange rate as part of its weaponry to fight high inflation. But the central bank has also adopted a tactic of taking two steps forward, one step back for yuan appreciation, partly to frustrate speculators. Dealers see the yuan continuing its rises for the rest of this year, possibly appreciating 5 to 6 per cent for all of 2011, but at a pace tightly controlled by the PBOC. "China needs to let the yuan appreciate, partly to fight inflation, but it also needs to prevent the appreciation from inviting speculative hot money inflows," said a trader at a US bank in Shanghai. "So the PBOC will control the pace of appreciation, making it difficult to benefit from short-term speculation in the yuan's value. However, opportunities are still clear for longterm investors." The yuan closed at 6.5576

versus the dollar, up from 6.5618 at Thursday's close. The currency hit an all-time trading high of 6.5549 in intraday trading, having risen 4.14 per cent since it was depegged in June 2010, and 0.53 per cent so far this year. Its previous trading peak was 6.5552 set on Tuesday. Before trading began, the PBOC fixed the yuan's midpoint at a record high of 6.5580, up from Thursday's 6.5625. It uses the fixing, from which the dollar/yuan exchange rate may rise or fall 0.5 per cent each day, to express its intentions on the direction for the currency. Offshore, benchmark oneyear dollar/yuan non-deliverable forwards (NDFs) were bid at 6.4390 in late trade, up slightly from 6.4320 at Thursday's close. Their implied yuan appreciation in a year's time fell to 1.85 per cent from 1.96 per cent. Since the start of this year, NDF-implied yuan appreciation has persistently lagged market expectations of a 5 to 6 per cent rise in 2011 partly because hedge funds, the main players in forwards, cut back exposure to Asian markets in favour of dollar assets as the US economy recovers, traders said. -Reuters

Indian rupee climbs on robust inflows MUMBAI: The Indian rupee touched a fresh two-and-a-half month high on Friday on robust dollar inflows from corporate borrowings ahead of the fiscal year-end on March 31, with strong local shares also supporting. The partially convertible rupee ended at 44.6650/6750 per dollar, 0.2 per cent stronger than its previous close of 44.745/750. It strengthened as much as 44.6150 during the day, its strongest since Jan. 4. "Month-end (dollar) demand is expected to come out on Monday and Tuesday, which may put a halt to the rupee's appreciation; 44.50-44.60 range if supported, the rupee may see 44.80-44.85 or even more," said Ashish Barua, a senior inter-bank forex dealer with Indusind Bank. Foreign funds have bought $539.19 million worth of shares in the month to March 24, but have sold shares worth around $1.67 billion so far this year. The one-month onshore

forward premium was at 31.25 points, higher than its previous close of 31.00, while the threemonth premium was at 85.50 points versus 85.25 and the one-year was at 299.25 points from 297.00. The one-month offshore nondeliverable forward contracts were quoted 44.91, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange were at 44.6950, 45.6850 and 44.6850, with the total volume at about $7.8 billion. -Reuters

Source

Events

JPY EUR EUR EUR EUR EUR USD USD USD USD

Tokyo Core CPI y/y German Import Prices m/m German Ifo Business Climate M3 Money Supply y/y Italian Retail Sales m/m Private Loans y/y Final GDP q/q Final GDP Price Index q/q Revised UoM Consumer Sentiment Revised UoM Inflation Expectations

Actual

Forecast

-0.3% 1.1% 111.1 2.0% -0.3% 2.6% 3.1% 0.4% 67.5 4.6%

-0.3% 1.0% 110.6 1.7% 0.4% 2.6% 3.0% 0.4% 68.1

Previous

-0.4% 1.5% 111.3 1.5% 0.2% 2.4% 2.8% 0.4% 68.2 4.6%

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

As per 22.00 PST Ask High 1.4142 1.4193 0.9150 0.9160 1.6079 1.6141 0.9761 0.9769 1.0275 1.0276 114.7700 115.2100 0.8798 0.8810 1.2932 1.2949 130.5100 131.0400 88.7400 89.2300 1436.2000 1437.6500

Bid 1.4139 0.9145 1.6075 0.9757 1.0271 114.7200 0.8794 1.2928 130.4100 88.6900 1435.3000

Low 1.4114 0.9077 1.6055 0.9744 1.0188 114.5200 0.8778 1.2855 130.2400 88.5600 1430.4000

London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 25/03/2011 A USD GBP CAD EUR JPY O/N 0.19400 0.55813 0.95583 0.60125 SN 0.11875 1WK 0.23025 0.57750 1.00000 0.74913 0.13125 2WK 0.23850 0.58500 1.03550 0.78850 0.14375 1MO 0.24825 0.61750 1.07767 0.87188 0.15188 2MO 0.28150 0.69125 1.13333 1.00813 0.16375 3MO 0.30750 0.81563 1.20167 1.15250 0.20000 4MO 0.34875 0.89813 1.27167 1.24750 0.24563 5MO 0.40700 1.00313 1.33133 1.35000 0.30000 6MO 0.46000 1.12313 1.39150 1.47250 0.34625 7MO 0.51100 1.20625 1.47400 1.54563 0.39625 8MO 0.56125 1.29313 1.55250 1.62000 0.44438 9MO 0.61425 1.37625 1.63367 1.69813 0.48875 10MO 0.66600 1.45625 1.72100 1.77563 0.51688 11MO 0.72000 1.52625 1.80833 1.84875 0.54375 12MO 0.77650 1.59500 1.89500 1.91500 0.56875

Major Central Banks Overview Central Bank

Next Meeting

Last Change

Bank of Canada

April 12, 2011

September 8, 2010

Bank of England

April 7, 2011

March 5, 2009

0.50%

Bank of Japan

April 7, 2011

December 19, 2008

0.10%

European Central Bank Federal Reserve Swiss National Bank

Current Interest Rate 1%

April 7, 2011

May 7, 2009

1%

April 27, 2011

December 16, 2008

0.25%

December 15, 2011 March 12, 2009

The Reserve Bank of Australia

April 5, 2011

November 2, 2010

0.25% 4.75%

Division of National Bank of Pakistan (NBP) KARACHI, March 25,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ U.S.A. U.K. EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR U.A.E. KR WON THAILAND

85.30 137.47 120.86 87.41 93.90 86.97 13.50 1.05 15.35 67.65 16.21 22.75 10.94 13.01 307.04 28.19 63.87 23.42 23.22 0.08 2.82

85.10 137.14 120.58 87.21 93.68 86.76 13.47 1.05 15.32 67.49 16.17 22.69 10.92 12.98 307.22 28.12 63.72 23.37 23.17 0.08 2.82

84.85 136.72 120.19 86.98 93.43 86.54 13.43 1.05 15.28 67.32 16.13 22.63 10.89 12.94 306.41 28.05 63.55 23.31 23.11 0.08 2.81

Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for March 25, 2011

KASB

BMA

ELXIR

GSL

ICSL

13.30 13.25 13.25 13.24 13.24 13.35 13.55 13.65 13.75 13.95 13.95 13.98 13.98 14.04 14.03 14.02 14.00 14.00 14.40 14.60 14.80

13.55 13.35 13.30 13.30 13.19 13.35 13.53 13.62 13.72 13.95 13.88 13.90 13.90 13.95 13.95 13.95 13.95 13.92 14.40 14.65 14.85

13.60 13.35 13.20 13.20 13.22 13.38 13.55 13.64 13.75 13.88 13.91 13.93 13.95 14.00 14.01 13.97 13.96 13.94 14.45 14.70 14.90

13.18 13.15 13.13 13.18 13.20 13.30 13.56 13.64 13.73 13.90 13.95 14.00 13.97 14.05 14.05 14.04 14.03 13.97 14.50 14.80 15.00

13.60 13.25 13.25 13.20 13.18 13.40 13.55 13.60 13.70 13.90 13.90 14.00 14.00 14.05 14.06 13.95 14.00 13.95 14.35 14.55 14.80

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

JSCM AvgRate 13.35 13.30 13.27 13.20 13.25 13.45 13.58 13.67 13.70 13.90 13.89 13.95 13.95 14.00 14.00 13.94 13.95 13.95 14.40 14.60 14.85

13.43 13.28 13.23 13.22 13.21 13.37 13.55 13.64 13.73 13.91 13.91 13.96 13.96 14.02 14.02 13.98 13.98 13.96 14.42 14.65 14.87

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

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

week month months months year years

0.82 -0.33 0.21 0.17 0.85 0.07

0.97 -0.04 0.49 0.52 -0.26 0.54

0.39 0.88 0.72 0.78 0.65 0.66

0.94 0.49 0.90 0.85 0.30 0.71

0.90 0.41 0.86 0.76 0.85 0.81

USD/CAD USD/CHF

0.83 -0.70 -0.53 -0.03 0.74 0.11

-0.83 0.05 -0.68 -0.16 -0.74 0.08

0.30 -0.85 -0.80 -0.42 -0.81 -0.32

Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)25/03/2011 1WEEK

2 WEEK

1 MONTH

3 MONTH

6 MONTH

9 MONTH

1YEAR

2YEARS

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

BID

ASK

ABLN 13.00

13.50

13.00

13.50

12.90

13.40

13.35

13.60

13.60

13.85

13.70

14.20

13.80

14.30

14.00

14.50

JSBL

13.40

13.90

13.25

13.75

13.20

13.70

13.30

13.55

13.60

13.85

13.70

14.20

13.80

14.30

13.90

14.40

ASPK 13.20 CIPK

13.70

13.15

13.65

13.05

13.55

13.30

13.55

13.50

13.75

13.60

14.10

13.75

14.25

13.85

14.35

13.15

13.65

13.05

13.55

12.90

13.40

13.15

13.40

13.35

13.60

13.50

14.00

13.70

14.20

13.80

14.30

DBPK 12.90

13.40

12.85

13.35

12.80

13.30

13.25

13.50

13.35

13.60

13.40

13.90

13.55

14.05

13.65

14.15

FBPK 13.25

13.75

13.20

13.70

13.10

13.60

13.25

13.50

13.50

13.75

13.70

14.20

13.80

14.30

13.90

14.40

FLAH 13.10

13.60

13.00

13.50

12.95

13.45

13.30

13.55

13.50

13.75

13.60

14.10

13.75

14.25

13.85

14.35

HBPK 13.35

13.85

13.25

13.75

13.15

13.65

13.30

13.55

13.45

13.70

13.65

14.15

13.75

14.25

13.85

14.35

HKBP 13.15

13.65

13.10

13.60

13.10

13.60

13.25

13.50

13.45

13.70

13.60

14.10

13.70

14.20

13.80

14.30

NIPK

13.10

13.60

13.20

13.70

13.30

13.80

13.40

13.65

13.50

13.75

13.60

14.10

13.70

14.20

13.80

14.30

HMBP 13.10

13.60

13.10

13.60

13.10

13.60

13.25

13.50

13.50

13.75

13.60

14.10

13.75

14.25

13.85

14.35

SAMB 13.10

13.60

13.10

13.60

13.10

13.60

13.20

13.45

13.40

13.65

13.65

14.15

13.75

14.25

13.85

14.35

MCBK 13.40

13.90

13.20

13.70

13.10

13.60

13.15

13.40

13.40

13.65

13.60

14.10

13.70

14.20

13.80

14.30

NBPK 13.25

13.75

13.20

13.70

13.15

13.65

13.25

13.50

13.45

13.70

13.60

14.10

13.70

14.20

13.80

14.30

SCPK 13.30

13.80

13.05

13.55

13.00

13.50

13.20

13.45

13.45

13.70

13.60

14.10

13.70

14.20

13.80

UBPL 12.90

13.40

12.90

13.40

12.90

13.40

13.30

13.55

13.50

13.75

13.65

14.15

13.80

14.30

13.90

14.40

AVE

13.67

13.12

13.62

13.06

13.56

13.27

13.52

13.47

13.72

13.62

14.12

13.74

14.24

13.84

14.34

13.17

14.30


4 Saturday, March 26, 2011

Senior Citizens

The Financial Daily International Vol 4, Issue 138

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

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

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

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

No end to Libyan woes Lately, former Defense Secretary Donald Rumsfeld has criticised the White House for lacking clarity in the Libyan mission. The reluctance and the ambivalence that has been reflected were a cause of concern. He said the only clear goal he has seen is the establishment of the no-fly zone. For the sixth straight day, the US and its allies attacked military forces loyal to Libyan Col. Muammar Gaddafi as part of the no-fly zone that the White House said was intended to protect Libyan civilians. The coalition had reportedly decimated the bulk of Gaddafi's air force as well as his air-defense systems. Reportedly the government loyalists did not appear to be pulling back, and as the allies shifted their attention toward Libyan ground troops, which are trying to capture various rebel strongholds, the no-fly zone would not be enough to oust Gaddafi from power. Coalition seems to have not prepared adequately for the potential fall of the regime, an outcome that would likely lead to prolonged chaos in the already war-torn country. While the West says offensive is having an impact, the question is whether it's going to be a decisive impact and whether it will be enough to allow the rebels to retake the towns that Gaddafi had previously conquered and marched on Tripoli. Aside from the humanitarian cost and the cost of maintaining the no-fly zone, which is considerable, there is also the cost to the world economy of keeping Libyan oil production off the market. It's not going to come back on the market until the crisis ends. There are suggestions that the model used in Afghanistan in 2001 and in Kosovo in 1999 be replicated. In both cases NATO used air power to help rebels on the ground achieve their military objectives. This will require sending some special forces teams to work with the rebels. History has shown that it's almost impossible to topple a regime purely through the air. There is also skepticism about what happens in Libya after Gaddafi. There is a real danger of chaos and protracted war between the tribes, with extremist groups getting into the middle of it. One doesn't see the rebels forming into a force that either can oust Gaddafi or govern Libya. To achieve this, there is a need for intervention on the ground and a round of nation building, not something the West is very good at. There is an Arab awakening throughout the Middle East. There are concerns that the Libyan situation can create anti American hype in the region. This could make receiving Arab support for Libyan rehabilitation even more difficult. The region is more concerned with unrest in Bahrain and Yemen. The continued support of the US to allow Saudi Arabia to carry out its heavy-handed intervention in Bahrain could prove detrimental.

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.

An Industry in the Making Muhammad Arif ccording to US Census Bureau, A the world population as of 14th March, 2011 was 6,905 billion in which 3,488 billions are male and 3,439 billion female. Out of this, population above 50 years stands about 349 billion. This results in to a ratio of 5%. Population of Pakistan is about 187 million that makes it sixth in number of the countries worldwide after China, India, US, Indonesia and Brazil. Population Growth rate in Pakistan is about 2.1% per year whereas urban population is bout 32.5% making size of rural population as 67.5% of its total population. In Pakistan population within the age of 15-64 is 53% and above 65 years is about 3.5% of the total population. Sex ratio in Pakistan is 1085 males against 1000 females. From 1946 through 1960, the United States experienced the Baby Boom years. During that time the fertility rate was higher and more babies were born. Today, the earlier Baby Boomers are now entering into retirement age. Likewise, Europe experiencing 2nd world war, low population growth and better health facilities is now entering in to an era where retired persons are outpacing working persons. This is the reason for their focus on importing labor force from the 3rd world countries. In developing nations, China has also become an aging society, with 144 million elderly over 60 years old, about 11 percent of the total population, according to 2005 census Like other countries the aging population of China has brought three major social problems: greater pension pressure, increasing medical expenses and the heavy burden of nursing care for the elderly people. In 2006 alone the Chinese Government granted over 500 billion Yuan of pension to 460 billion pensioners nationwide, and the medical expenses of these people were more than 3 times that of the young population. These changes are creating problems for the governments but on the other hand they are also providing ample opportunities to unleash chance of constituting another form of industry that was never thought of some time back. Emergence of pension schemes in new formats, pension funds, construction of houses for elderly people and

extension of medical facilities are now creating new opportunities for investment. It is in line with sayings that never think of anything in negative as every thing has its positives in some respects. Just imagine that size of few largest pension funds are now about $ 3,458 billion world wide in which Japan is dominant with $ 1,370 billion. According to a report published in the "News", the size of pension funds in Pakistan is $ 9.15 million. The performance of these funds are also very lack luster. Mainly they are invested to seek tax incentives and 50% of them are invested as equity funds. So the Fund Mangers in this regard are passing on low returns by taking higher risk to their ultimate customers. This shows that Fund industry in Pakistan has failed to attract retail investors by devising attractive products to compete with bank deposits and NSS investments. In spite of having intensive extraordinary socio-economic pressures, Pakistani society had always stood for high values, respect and dignity of human life. Old age was regarded as a mark of esteem, wisdom and piety. This could be attributed to the strong ties that existed in the joint family system nurtured by religious values, dignifying the status of elderly segment of society. However the situation in 2011 is now changing and the old family system is in crumbling state. Hence the issues such as income security, housing and medical care for elderly are now assuming importance in Pakistan, and with the passage of time they would require more attention of the policy makers in the Government and society as a whole. In order to address the issue of ageing in Pakistan various steps/measures taken includes; Employees Old Age Benefit Act 1976, Social Security Act: 1965, Pension for Government Employees and Government Employees Benevolent Fund with opportunities to invest in NSS at higher returns. Apart from taking some steps i.e. allowing separate queues for senior citizens at government offices like Nadra or tax collecting booths, nothing has been done substantially. One can see long queues at banks for getting pensions since at this time mainly NBP is handling such passage of payment. Though SBP has made some changes

in this respect but still that needs to be implemented. Government had also initiated some schemes under old people homes but they are still in doldrums due to corrupt elements and on interest of land mafia. Pakistan has around 5,000,000 people above 65 years out of which only Government employees (around 700,000) are entitled to pension and gratuity schemes. This provides them income security in the old age. The government also appoints pay and pension committees periodically to review persons for the retired persons but most of the time it has been seen that public bodies including provincial governments, local governments, institutions like SBP or some other public bodies do not follow such decisions. Further it has also been seen that the provident funds lying with Federal Governments/Provincial Governments or other public bodies neither are nor properly invested to reap some benefits out of these funds. Traditionally Management of these funds is in the hands of bureaucrats who do not have experience to manage these funds properly. Accurate figure is not available but by some estimates these funds range in between Rs 400-500 billion that are lying with some banks with very low return. So this segment is required to be totally overhauled. Old Age Benefit Scheme (EOBI) constituted at the time of Zulfiqar Ali Bhutto in 1976 for the industrial workers is another segment. The objectives were to cater for raise in cost of living of Senior Citizens. EOBI Act 1976 was enforced with effect from April 01, 1976, to achieve the objective of Article 38 (C) of the Constitution, by providing for compulsory social insurance. It extends Old-Age Benefits to insured persons or their survivors Under EOBI Scheme. Insured Persons are entitled to avail benefit like, Old-Age Pension (on the event of retirement), Invalidity Pension (In case of permanent disability), Old-Age Grant (an Insured Person attained superannuation age, but does not possess the minimum threshold for pension) Survivor's Pension (in case an Insured Person is expired). Pension rates right now are Rs 3000/=. The plus point in this scheme is that EOBI does not receive any financial assistance from the Government for carrying out its operations. A contribution equal to 5% of minimum wages has to be paid by the Employers of all the Industrial and Commercial Organizations where

EOBI act is applicable. Contribution equal to 1% of minimum wages is paid by the employees of the said organisations. EOBI has distributed Rs.7.3 billion amongst 191,000 old age workers since 1986. However it has also been seen that due to inefficiency of EOBI, sometime, they went in to wrong investments like investing in real estates at the wrong time. So this institution also requires fund experts on merit. Another front to provide income security to the Senior Citizens are the schemes of the National Savings that now amounts Rs 502 billion as Bahbood and Pensioner Benefit schemes out of total investments received under NSS i.e. Rs1.4 trillion as of July, 2010 (SBP report). This is almost half of the investments catered by the government through NSS. Under these schemes, NSS is paying better returns. However keeping in view CPI increase of more than 15% per year in Pakistan makes them breakeven with their original investments. But this is not the point here. In fact such investments increase debt servicing cost for the government. So it would have been better of to make NSS separate from the government as an independent institution. It needs to be reconstituted as a separate fund, investing in government expenditure and other schemes based on its own balance sheet. If it is continued to operate only as a fund raising source for the government than it would create problems neither in favor of the country nor its people. Concluding one can imagine that funds tied with senior citizens in Pakistan are above Rs 1 trillion that is about one third of our total budget outlay each year; hence the matter is of serious nature. It is very much desired that the Governments at all levels, financial market regulators i.e. SBP & SECP and Funds in public and private sector are required to prepare a road map for this new industry that requires proper legislation and regulations, capacity building for running the affairs and for taking initiatives. In this way the element of senior citizens can be enchased providing them relief as well growth opportunities for the rest of the economy. (The writer is a visiting professor at KASBIT).

Raymond-s are Triumphant Pakistan's gains in the Raymond affair are a big 'No'. They have celebrated his release by killing scores of Pakistanis through drone attacks and suicide bombings. We have not only lost our daughter, Shumaila, but also her city, Faisalabad has witnessed the bloodiest bombing - what to talk of Dr Aafia. The affair has brought the mutual mistrust between the CIA and the ISI to the fore. The President, the PM, the CM of Punjab, the Chief of Army, the chief of ISI are discredited, their repute went at stake. The claim that even the Diyat money is not paid by the Americans is yet another slap on our face. The agreement that next time the CIA would take the ISI into confidence before sending its agents to Pakistan for operations is absurd. The nation is humiliated. The justification being made that the families of the victims had the prerogative to accept the mercy plea in exchange of Diyat and Qasas money is ridiculous. Whether the case of an American killer was just a case of those who were killed, the individuals or it was the issue of Pakistan's security.

Was the ISI a party whose individuals were killed or wasn't it the jurisdiction of the state to enact the law of Diyat and Qasas? On the other hand the Raymond(s) have managed to successfully discredit all major political parties and its leaders and proved them as US and foreign collaborators and agents. They have managed to discredit the civilian governments, military establishment, judiciary as well as the agencies. That Raymond was on a radioactive mission and he himself was radiating; he has radiated his lovers and enemies; has also pointed to the weaknesses and vulnerabilities of the corrupt Pakistani elite across the board; has proved that US friendship is cancerous and toxic; that the Americans living in the USA are the most ignorant about the outside world and their media is the most biased, controlled by a small ethnic racist and blackmailer minority; the USA is an occupied country and need to win another war of independence from Wall Street Bankers, and racist supremacists. Raymond was a

symbol of US imperialist mentality and someone else somewhere else might pay the price of this 'rescue' arranged by the Zardari-Sharifs regimes in Pakistan. Afghanistan is a magnet for the empires to come and die it has become a suicide spot for the super powers. Now when all has been done, the mistrust between the Americans and their CIA must have been removed against Pakistanis and their ISI but this has not happened, rather it has further widened. Many believe that the state itself let the hype and anger amongst the Pakistani people created through media because the stance that court would decide amused them and satisfied them. But why the case was settled all of sudden without doing much of the homework, again through media, to tone down the tempers? The mismanaged affair ended in disgrace to the nation, the families, the judiciary, the security establishment and above all Pakistan. Couldn't it be handled carefully if this all had already been decided? If gold rusts, what shall the iron do?

US Nuclear Waste Nightmare The disaster at a Japanese nuclear power plant is a chilling reminder that the US nuclear energy industry has failed to solve a big problem -- where and how to store millions of highly reactive spent fuel rods. For decades, power companies and regulators have put the issue in the "too hard" basket while the rods, which stay radioactive for many years, pile up around the nation's 104 nuclear reactors. The danger is that even the crisis at the Fukushima plant won't be enough to spur any major change. "There's a lot of whistling past the graveyard on this," said Stephen Maloney, a risk consultant in Massachusetts who works with nuclear power companies. Some executives are afraid to say publicly that the waste is too risky to keep in so many places and must be moved, he said. In Japan, apparent water losses from a spent fuel pool helped to trigger fears of a large-scale catastrophe and likely led to a rise in radiation that permeated water and air near the plant. It has led to a push from experts for a complete reevaluation of the risks taken in storing the rods. "You can already see the progression of questions forming from the realisation that in Japan the spent-fuel rods pose as great, if not a larger problem, as the fuel in the reactors," said Rod Ewing, a

University of Michigan professor. Any improvement in the storage system is likely to be more expensive, a potential deterrent if it makes nuclear power less competitive compared with electricity generated by burning natural gas or coal. Meanwhile a more ambitious solution -- a plan to transport US waste to Nevada for storage deep inside Yucca Mountain, a site about 100 miles northwest of Las Vegas -- could create additional new risks and has drawn stiff opposition from local residents, leading to it being shelved. The US nuclear industry, still the world's largest, has struggled with the storage problem ever since the first nuclear power plant was built in the 1950s. New nuclear development in the United States ground to a halt after the Three Mile Island accident in 1979 but that hasn't stopped the existing plants from burning through many thousands of fuel rods since. At the end of 2009 there were 218,853 spent fuel rod assemblies in storage in the United States, according to the Congressional Research Service. The number grows every year. Assemblies like those used at the Fukushima plant typically contain between 80 to 100 fuel rods, which means that there are now millions of rods being stored around plants. Of the total, only 49,121 assemblies

were in dry casks or otherwise stored remotely, leaving the vast majority to lie in cooling pools like at the Fukushima facility. Rods can stand about 20 feet high and even a decade after use can emit enough radiation to kill a person standing nearby. DRY CASKS Storing more spent fuel rods in dry casks is one way to make them less vulnerable to natural disasters because they don't need constant power to keep fuel safe. A critical factor that triggered the Fukushima disaster was the loss of the external power supply and the failure of the on-site backup system because of flooding caused by the tsunami. That may have allowed the cooling pools to overheat, reducing water levels and exposing the rods to the air. But the casks, which hold about 10 tons of waste each, sell for about $1 million -- a cost that can be difficult to swallow for utilities. And they are at best a partial solution. Fuel rods are only cool enough to put into dry storage after five years in a pool -- which means that the most dangerous radioactive material must remain submerged. Secondly, there has been some concern that the dry casks stored in the open near some plants could make tempting targets for terrorists. Some critics of the industry's safety,

such as the Union of Concerned Scientists, say more use of dry casks may be the best short-term option for now, to move more fuel out of cooling pools. "The national government has failed in its attempt to come up with any kind of coherent policy, and so as a result, all we can do is try to reduce the risk associated with this material until a better solution comes along," said Ed Lyman, a UCS senior scientist, on a recent press teleconference. The waste issue goes beyond the power reactors. There is also a huge amount of nuclear waste at research reactors and at Department of Energy facilities. Altogether, some 65,000 metric tons of waste uranium fuel is stored around the United States, with another 2,200 or so tons produced annually, according to the Nuclear Energy Institute, the nuclear power industry's trade group. The US industry had counted on the creation of the long-term waste repository at Yucca Mountain, which the federal government has already spent $10 billion to prepare. But this plan was frozen by President Obama's administration last year amid opposition from local politicians, including his fellow Democrat Senate Majority Leader Harry Reid, and concerns about the site's proximity to fault lines.-Reuters


5

Saturday, March 26, 2011

South East Asian stocks

Singapore tops gainers; foreigners lead buying

European shares see biggest weekly gain in 6 months KSE-100 Index Opening Closing Change % Change Turnover (mn)

11,564.25 11,552.13 -12.12 -0.10 66.39

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

3,241.58 3,237.28 -4.30 -0.13 2.27

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

2,602.81 2,599.12 -3.69 -0.14 0.06

Major Gainers

Symbol

Close

Change

SIEM 1,074.75 WYETH 970.00 NESTLE 3,070.44 CICL 104.89 GADT 88.34

48.65 40.00 22.48 4.88 4.20

Major Losers

Symbol PSEL PECO BATA KSBP GLPL

Close

Change

149.63 126.22 508.03 53.48 52.25

-7.87 -6.64 -6.45 -2.77 -2.74

Top 5 Volume Leaders

Symbol

Close Vol (mn)

LOTPTA NCL ANL NBP FFBL

15.98 28.51 8.68 56.58 40.03

12.20 4.26 3.98 3.02 2.82

Active Issues Plus Minus Unchanged

131 127 95

Sector Updates FERTILISER 000 tonnes

Urea Offtake (Jan to Dec 10) Urea Offtake (Dec 10) Urea Price (Rs/50 kg) DAP Offtake (Jan to Dec 09) DAP Offtake (Dec 10) DAP Price (Rs/50 kg)

6,123 626 1,020 1,317 90 3,143

AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Jan 11) 47,153 Sales (July 10 to Jan 11) 45,113 Production (Jan 11) 6,698 Sales (Jan 11) 6,793

INDUS MOTOR CO Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)

29,078 28,293 5,596 5,885

HONDA ATLAS CAR Production (July 10 to Jan 11) 9,279 Sales (July 10 to Jan 11) 8,779 Production (Jan 11) Sales (Jan 11)

1,511 1,904

DEWAN FAROOQ MOTORS Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)

186 113 0 23

BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Feburay 4,11) 5,046,861 Advances (Feburay 4,11) 3,140,675 Investments (Feburay 4,11) 2,100,015 Spread (Feburay 4,11) 7.61%

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

PRICES (Ex-Refinery) MS (1 Feb 11) MS (1 Jan 11) MS % Chg Kerosene (1 Feb 11) Kerosene (1 Jan 11) Kerosene % Chg JP-1 (1 Feb 11) JP-1 (1 Jan 11) JP-1 % Chg HSD (1 Feb 11) HSD (1 Jan 11) HSD % Chg LDO (1 Feb 11) LDO (1 Jan 11) LDO % Chg Fuel Oil (1 Feb 11) Fuel Oil (1 Jan 11)

1,122 188 81 15 727 138 3,426 634 32 6 4,331 690 6 2

Rs 51.74 49.41 4.72% 58.28 55.01 5.94% 58.51 55.24 5.92% 61.80 58.55 5.55% 55.32 53.46 3.48% 47,931 45,947

US stocks mid-day

Pre-MPS sidelinism tames KSE Nawaz Ali KARACHI: Karachi Stock Exchange ended the week with marginal losses and thin volumes on Friday as investors stayed cautious ahead of the monetary policy announcement for the next two months scheduled for Saturday, March 26. The benchmark KSE-100 index fell by 12 points to close at 11,552 points, KSE-30 index lost 14 points to close at 11,257 points and KSE all-share index was down by 3 points to close at 8,052 points. "Investors preferred to book profits ahead of monetary policy announcement with low volumes and activity remaining confined to mid-cap stocks", said Samar Iqbal, equity dealer at Topline Securities. Trading activities began on a positive note with benchmark index up 33 points, index then managed to stay in green zone during the first session as investors took positions after some foreign buying during the previous session. The index at a point in time touched an intra-day high of 11,636 points (+ve 72). But first session ended just 25 points up due to some profit taking at higher levels. Profit taking continued dur-

ing the second session as investors were cautious before the monetary policy announcement. Then the index entered into the negative zone and touched the lowest level of the day of 11,531 points (-ve 32) and finally ended the day on a negative note. State Bank of Pakistan (SBP) is scheduled to announce the monetary policy for the next two months today (Mar 26). It should be noted that in its last monetary policy statement issued on January 29, the central bank kept the key interest rate unchanged at 14 per cent. Most of the analysts expect discount rates likely to remain at 14 per cent this time also. Investors' participation was little higher as 66.3 million shares traded during the day which were 3.7 million shares more as compared to a turnover of 62.6 million shares a day earlier. Lotte Pakistan emerged the volume leader with 12.2 million shares followed by Nishat Chunian with 4.26 million shares and Azgard Nine with 3.98 million shares. Out of total 353 active issues; 131 advanced and 127 declined while 95 issues remained unchanged.

HK, China shares gain on bank-earning hopes HONG KONG: Banks led a broad uptick on the Hong Kong and China markets on Friday, after Bank of China Ltd kickstarted a slew of high profile earnings late on Thursday with better-than-expected results. At the same time, market players showed little tolerance for shares that underperformed. The benchmark Hang Seng Index gained 1.1 percent on Friday, and 3.8 per cent on the week, to 23,158.67. The China Enterprises Index of top locally listed mainland companies climbed 1.1 per cent on the day and 4.4 per cent for the week. The Shanghai Composite Index closed up 1.1 per cent on Friday at 2,977.8 and finished the week up 2.4 per cent, its strongest weekly showing in a month. The financials sub-index finished the day up 1.6 per cent, buoyed by strong bank earnings. Bank of China, the country's third-largest lender, gained 1.8 per cent in Shanghai and 2.6 per cent in Hong Kong on Friday. "Chinese banks doing well is not a surprise, but Bank of China's 29 per cent full-year net profit increase is," said Edward Huang, a strategist at Haitong International Securities. Barclays Capital had forecast that Bank of China would report a 20 per cent gain in net profit for 2010. In Barclay's view, China banks will report average profit gains of 35 per cent for the year. Bank of China's net interest margin expansion "is what surprised me most," said May Yan, Barclays Capital's head of research of China banks, noting that it has the largest overseas operations among Chinese banks and "its offshore margins have eaten into its onshore margins." "Bank of China's earnings showed that policies to cool

property prices won't have a big impact on bank earnings, at least in 2011," said Xiangcai Securities analyst Cheng Yi in Shanghai. "And bank stocks are cheap. They're very attractive right now." But any rally in bank stocks would likely be short-lived. Pressure from monetary policy tightening would weigh down financial stocks unless investors consistently increased the amount of capital flowing into bank shares, said Qian Qimin, deputy head of research at Shenyin & Wanguo Securities in Shanghai. In a case where investors showed unhappiness with underperformance, Li & Fung Holdings plunged 9.1 per cent in Hong Kong on Friday after posting an underpar profit for 2010 and failing to meet its three-year profit target. "Its bottom line was disappointing," said Patrick Yiu, director at CASH Asset Management. "But it is a rather solid company with good growth prospects and that will allow it to continue enjoying a high valuation." PROPERTY, CEMENT UP Property stocks advanced 2.3 per cent after a government think tank recommended building more affordable housing and other steps to stabilise the housing market in the long run. Though the government is taking steps to slow property price increases in first and second tier cities, third and fourth tier cities still have room for developers to profit, said Qian of Shenyin & Wanguo Securities."Especially with affordable housing, there are still some bright spots," he said. China's largest property developer China Vanke Co rose 2.7 per cent in Friday's trading. Poly Real Estate Group Co leapt 4.5 per cent. Reuters

ANNOUNCEMENT Company Central Ins.XB American Life KASB Securities KASB Securities (Consolidated)

Period Yearly Yearly Yearly Yearly

Div/Bon/Right 15%(F) 40%(B)

PAT (Rs in mn) 491.22 130.01 68.87 61.45

EPS(Rs) 17.60 2.60 0.09 0.61

Wall Street rises, but turnover still low

FRANKFURT: A cameraman is seen on the trading floor in front of the DAX board.-Reuters

Nikkei rises on foreign buying TOKYO: The Nikkei average rose on Friday to round off a week of gains as foreign investors scooped up battered shares, but their buying could ebb next week on persisting concerns about a crippled nuclear plant and power cuts. Foreign investors' net buying of Japanese shares reached a record high last week, the week after a devastating earthquake hit northeastern Japan, Ministry of Finance data showed, and traders say their buying continued this week. Overseas investors bought a net 891 billion yen ($11 billion) in Japanese stocks in the week of March 14-18, the highest since records began in 2005. Some analysts said foreign buying may continue before the exdividend date on March 28 but others were worried that their buying -- the main driver of the market rebound since last week -may peter out soon. "Many companies downgraded their earnings estimates this week and some halted dividends for this year," said Hiroyuki Fukunaga, chief executive of trading information provider Investrust. "Both trends will likely continue next week, putting the market under pressure and souring sentiment." The benchmark Nikkei ended the day up 1.1 per cent or 101.12 points at 9,536.13, helped by broad optimism towards the global economy and a rise in US shares ahead of forthcoming earnings reports. On the week, the Nikkei gained 3.6 per cent, consolidating around 9,500 in a narrow 200-point range as investors cautiously watched developments at the quake-crippled Fukushima nuclear plant. The broader Topix index gained 0.4 per cent to 857.38 on the day, for a weekly gain of 4.4 per cent. On Friday, advancing shares outpaced declining ones by 922 to 638. OVERSOLD SHARES At the end of the week, the Nikkei's price-to-book ratio stood at 1.1, roughly half that of the US S&P 500 and Hong Kong's Hang Seng benchmark. About 3.15 billion shares changed hands on the first section of the Tokyo Stock Exchange on Friday, still above the average of the past three months. Still, trading volume appears to be declining after peaking on Tuesday last week, when the Nikkei plunged about 10 per cent. Reuters

Samsung Electronics lead gains at Seoul SEOUL: Seoul shares rose on Friday led by techs including Samsung Electronics and Woori Finance Holdings, but falls in Kumho Tire amid plant shutdowns weighed. The Korea Composite Stock Price Index (KOSPI) ended up 0.85 per cent or 17.26 points at 2,054.04 points. Economic recovery hopes following some positive developments in Europe helped lift market sentiment, said Kim Young-june, a market analyst at SK Securities. European leaders agreed on Thursday to increase their financial rescue fund to the full 440 billion euros by June, but avoided discussion of Portugal which is under pressure to seek a bailout following the resignation of its prime minister. The market was set to face resistance around 2,100 points, near the record high hit earlier this year, according to Kim Seong-bong, a market

analyst at Samsung Securities. Foreign investors were buyers of a net 218.8 billion won ($195.6 million) worth of stocks, purchasing shares for an eighth consecutive session. Shares in Samsung Electronics rose 3.4 per cent after recent sharp falls and after a local media report the world's No.1 memory chip maker may raise prices of its DRAM chips. Samsung Electronics denied the report, but analysts said price hikes were likely in the second quarter. "We are hearing in the market that a price hike may come as early as April," said Song Myungseop, an analyst at HI Investment & Securities. Shares in Kumho Tire finished down 1.7 per cent after the tire maker shut down some of its local operations due to strikes. A Kumho spokesman said that the company had yet to decide when operations would resume. Reuters

NEW YORK: Wall Street advanced on Friday with Oracle's upbeat outlook lifting tech stocks; though weak trading volume hinted the rally lacks enthusiasm. All three major stock indexes looked set to end the week in positive territory after two straight weeks of declines. The S&P was on track to notch its best week in eight, raising renewed questions about how much upside potential was left. "Fundamentals are improving, but I'm not sure the economy will jump back on the high-speed rails to expansion like investors are hoping," said Andrew Wilkinson, senior market analyst at Interactive Brokers Group in Greenwich, Connecticut. "I think expectations are going to be a little more sober heading into the future." Trading volume has been weak, with Tuesday's session the lowest of the year, pointing to a lack of conviction. The stock of Oracle Corp, a leading seller of software to businesses, jumped 3.3 per cent to $33.20 and ranked as the Nasdaq's most actively traded name a day after the company forecast a rise in fourth-quarter new software sales. Oracle's outlook fueled hopes that a global resurgence in tech spending remains intact. The results prompted at least 12 brokerages raised their price targets on the stock. The S&P technology index rose 0.7 per cent on Friday, and is up more than 3 per cent so far this quarter. In a further boost to techs, Accenture rose 5.9 per cent to $55.01 after the technology outsourcing and consulting company raised its outlook. The Dow Jones industrial average was up 80.41 points, or 0.66 per cent, at 12,250.97. The Standard & Poor's 500 Index was up 9.29 points, or 0.71 per cent, at 1,318.95. The Nasdaq Composite Index was up 25.95 points, or 0.95 percent, at 2,762.37. On the downside in tech shares, BlackBerry maker said earnings would slip as it spends heavily to launch its PlayBook tablet. The company's US-listed shares sank 11 per cent to $57.05. "Oracle and RIM were diametrically opposed and we're seeing the stocks react accordingly," said Michael Quigley, tech analyst at Wedgewood Partners in St. Louis. "RIM's growth is pausing because it is in the middle of a product transition, but Oracle shows IT spending continues to be strong. The whole software chain seems to be doing well." Reuters

Indian shares post best weekly gain since Jul ‘09 MUMBAI: Indian shares posted their best weekly gain in 20 months and rose 2.5 per cent to a two-month closing high on Friday, as investors picked up bargains from battered down stocks ahead of the quarterend. Software companies jumped after strong quarterly results and forecasts from global technology majors Oracle Corp and Accenture indicated a positive business environment for Indian IT companies "The numbers and forecasts from these companies, reinforce the fact that the business environment for Indian IT companies is good," said Dipen Shah, senior vice-president of research for private client group at Kotak Securities. The IT sector index firmed 4 per cent. The 30-share BSE index posted its best daily gain in a month and jumped 2.53 per cent, or 464.90 points, at

18,815.64, its highest close since Jan. 25. All of its components closed in the green. It gained 5.2 per cent for the week, its best weekly gain since July 2009. Market breadth was in favour of advancing shares and they beat declining ones in the ratio of 1.4 to 1. Around 336 million shares changed hands on the BSE, sharply higher than the 30-day daily average volume of 275 million shares. "There is more money available to chase risk," said Sanjeev Patkar, director of research at Almondz Global. "And when an asset (Indian equities) which has proven itself earlier, is now available at a reasonable price, people will obviously come and buy it." The benchmark index is down 8.3 per cent year-to-date as foreign funds withdrew around $1.8 billion. It has under performed world equi-

ties sharply, and is one the worst performing major markets in 2011. Top outsourcer Tata Consultancy Services firmed 2.3 per cent on Friday. On Thursday, it had said it had received a contract to provide banking software technology solution to Shanghai Rural Commercial Bank. Financials led the charge on optimism that India's economic growth story will stay intact. Top lender State Bank of India gained 2.2 per cent, while leading private lenders ICICI Bank and HDFC Bank rose 3.6 per cent and 3.2 per cent, respectively. Top-listed real estate firm DLF climbed 6.2 per cent, as investors picked the stock after the under performance this year. The stock is still down nearly 15 per cent year-to-date. The 50-share NSE index gained 2.4 per cent to 5,654.25. Reuters


6

Saturday, March 26, 2011

Market

KSE 100 Index

Symbols

Volume

66,388,050

Value

3,026,980,206

Trades

45,999

Advanced Declined Unchanged Total

Current High Low Change

131 127 95 353

All Share Index

11,552.13 11,637.17 11,530.79 i12.12

Current High Low Change

8,052.01 8,106.79 8,038.13 i3.94

OIL AND GAS

Company

Paid up Cap(mn)

Attock Petroleum Attock Refinery BYCO Petroleum Mari Gas Company XD National Refinery Oil & Gas Development Pak Petroleum Pak Oilfields Pak Refinery Limited P.S.O XD Shell Gas LPG Shell Pakistan

High Low 1,435.28 1,414.62 Total cos Defaulter cos 12 P/BV (x) ROE (%) 3.20 32.54

PE

Open

High

Low

691 6.39 853 4.92 3921 735 7.46 800 5.92 43009 9.30 11950 7.51 2365 7.37 350 1715 4.67 226 685 10.70

353.72 121.97 9.19 107.70 286.50 137.80 206.03 322.01 95.97 276.63 26.93 207.86

357.00 123.00 9.49 108.70 288.50 138.50 208.55 325.49 96.50 278.75 26.02 209.95

352.25 120.39 9.12 107.25 284.80 137.00 205.00 319.01 94.10 275.02 26.00 207.90

Close Chg 353.48 120.67 9.19 107.36 285.30 137.52 205.50 319.77 94.76 275.77 26.93 208.59

-0.24 -1.30 0.00 -0.34 -1.20 -0.28 -0.53 -2.24 -1.21 -0.86 0.00 0.73

Current High Low Change

KMI 30 Index Current High Low Change

11,257.14 11,336.60 11,239.94 i14.15

19,543.37 19,670.62 19,518.14 i22.50

Last 60 days High Low

Volume 56860 472744 430576 6106 6338 355033 485134 2075702 33463 267143 200 4495

401.00 146.90 12.24 141.65 335.00 185.00 229.80 341.50 122.22 317.79 34.89 222.00

321.00 98.25 8.20 99.46 254.00 134.85 190.10 277.09 83.00 265.00 24.66 186.83

% Change -0.32 5-Day High 1,431.60 5-Day Low 1,392.78

2010 Div BR (%) (%) 300 31 200 55 90 255 80 120

2011 Div BR (%) (%)

20B115.00 - 23.43 - 15.00 20B 50.00 -100.00 - 50.00 -

-

Open 677.15 Turnover 27,429 P/E (x) 5.05 Company

High Low 680.80 673.07 Total cos Defaulter cos 4 2 P/BV (x) ROE (%) 1.29 25.53

Close 673.61 Listed cap 3,242.17 mn Payout (%) 11.08

Change -3.54 Market cap 11,498.44 mn Div Yield (%) 2.19

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1092 1321

6.44 8.36

67.50 30.00

67.80 30.30

66.99 30.00

67.00 -0.50 30.11 0.11

26030 1399

75.72 39.45

Pak Int Cont.Terminal PNSC

63.00 29.35

Paid up Cap(mn)

PE

Open

High

Low

Agritech Limited 3924 Bawany Air 75 BOC (Pak) 250 Clariant PakXDXB 341 Dawood HerculesXDXB 4813 Descon Chemical 1996 Descon Oxychem Ltd. 1020 Dewan Salman 3663 Dynea Pak 94 Engro Corp.LtdXDXB 3933 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji Fertilizer 8482 Fauji Fert.Bin Qasim XD 9341 Ghani Gases Ltd 725 ICI Pakistan 1388 Leiner Gelatine 75 Lotte Pakistan XD 15142 Nimir Ind Chemical 1106 Shaffi Chemical 120 Sitara Chem Ind 214 Sitara Peroxide 551

22.67 7.29 9.27 5.07 4.23 11.53 5.59 11.02 7.96 7.55 9.59 9.30 5.88 27.50 9.03 7.75

23.00 7.50 91.49 142.50 72.92 2.75 8.61 2.94 10.40 199.82 12.00 12.73 129.64 39.69 10.93 164.19 15.44 15.93 2.81 2.38 107.10 16.98

23.64 8.48 94.44 143.64 76.56 2.74 8.89 2.99 10.99 203.24 12.18 13.13 130.90 40.18 11.18 165.49 16.44 16.23 2.85 2.40 111.00 17.98

21.88 7.50 90.00 141.50 75.00 2.65 8.55 2.85 10.25 199.90 11.85 12.71 129.05 39.60 10.81 161.22 15.01 15.91 2.71 2.39 106.01 17.50

Close Chg 22.67 7.73 90.27 141.53 75.56 2.68 8.76 2.87 10.40 200.53 11.91 13.02 129.42 40.03 10.93 162.79 16.44 15.98 2.75 2.40 107.10 17.98

-0.33 0.23 -1.22 -0.97 2.64 -0.07 0.15 -0.07 0.00 0.71 -0.09 0.29 -0.22 0.34 0.00 -1.40 1.00 0.05 -0.06 0.02 0.00 1.00

Close 1,768.01 Listed cap 52,251.88 mn Payout (%) 48.81

Last 60 days High Low

Volume 2291 2407 875 3123 1884415 82404 924689 481223 600 2574849 163558 2344492 1004751 2817356 8630 261454 5849 12195676 170101 537 104 1353271

Change 3.02 Market cap 379,857.23 mn Div Yield (%) 5.65

26.73 9.70 103.94 213.30 294.00 3.58 9.60 3.45 11.98 238.50 15.87 13.30 157.90 43.99 13.07 170.75 16.87 16.80 3.34 2.78 130.50 18.45

21.25 6.11 82.00 141.00 72.92 2.34 6.00 2.26 10.00 189.00 11.56 10.56 108.00 34.75 10.43 138.00 9.15 13.24 1.62 1.55 90.78 11.81

% Change 0.17 5-Day High 1,768.01 5-Day Low 1,727.13

2010 Div BR (%) (%) 5 10R 60 135 25B 50 300B 15 60 20B - 27.5R 130 25B 65.5 175 5 25 5B -

2011 Div BR (%) (%) -

-

FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,074.70 Turnover 19,125 P/E (x) 5.16

High Low 1,086.18 1,045.63 Total cos Defaulter cos 4 1 P/BV (x) ROE (%) 0.39 7.47

Close 1,063.38 Listed cap 1,186.83 mn Payout (%) 25.28

Change -11.32 Market cap 2,932.73 mn Div Yield (%) 4.90

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Century Paper

707

-

16.50

16.90

15.76

16.45 -0.05

17025

19.69

14.50

-

-

-

-

Security Paper

411

6.83

38.92

39.00

38.25

38.25 -0.67

2100

47.19

34.00

50

-

-

-

Company

Last 60 days High Low

% Change -1.05 5-Day High 1,074.70 5-Day Low 1,060.25

2010 Div BR (%) (%)

2011 Div BR (%) (%)

Open 1,086.10 Turnover 116,936 P/E (x) 3.66 Paid up Cap(mn)

PE

Open

Agriautos Ind 144 4.76 72.03 Atlas Battery 101 5.23 195.30 Atlas Honda 626 9.49 134.13 Baluchistan Wheels Ltd. 133 5.78 35.59 Dewan Motors 890 2.07 General Tyre 598 4.66 23.25 Ghandhara Nissan 450 3.22 Ghani Automobile Ind 200 5.00 4.20 Honda Atlas Cars 1428 9.79 Indus Motors XD 786 9.15 210.00 Pak Suzuki 823 11.95 62.12 Sazgar Engineering XD 150 4.22 23.95

High

High Low 1,121.44 1,085.32 Total cos Defaulter cos 19 4 P/BV (x) ROE (%) 0.93 25.35 Low

Close Chg

Company

Paid up Cap(mn)

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

PE

565 2.77 675 555 426.67 1199 18.83 785 40.86

Open 26.75 2.03 12.80 52.41 9.00

High 27.00 2.08 12.80 52.50 9.25

Low 26.50 1.95 12.80 51.75 8.56

Close Chg 26.50 2.05 12.80 51.79 8.99

-0.25 0.02 0.00 -0.62 -0.01

Close 1,029.05 Listed cap 3,596.11 mn Payout (%) 30.91

Change -9.50 Market cap 9,710.52 mn Div Yield (%) 9.80

Last 60 days High Low

Volume 2607 10095 1160 23585 1558

31.00 2.98 16.51 61.90 10.70

25.67 1.80 12.26 45.81 8.51

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

% Change -0.91 5-Day High 1,038.55 5-Day Low 1,016.95 2011 Div BR (%) (%)

- 10.00 25B 15.00 20B 15.00 -

Company

Paid up Cap(mn)

AL-Abbas Sugar Ansari Sugar Bawany Sugar Colony Sugar Mills Crescent Sugar Dewan Sugar Habib Sugar Habib-ADM Ltd Haseeb Waqas J D W Sugar Kohinoor Sugar Mehran Sugar Mirza Sugar National Foods Noon Pakistan Noon Sugar Pangrio Sugar Quice Food S S Oil Sanghar Sugar Shahmurad Sugar Shakarganj Mills Tandlianwala

174 244 87 990 214 365 750 200 324 539 109 157 141 414 48 165 109 107 57 119 211 695 1177

PE 7.37 7.53 0.71 8.63 6.71 1.31 1.66 9.72 5.77 1.49 6.59 0.25 2.24 3.30 0.39 26.51

Company

Paid up Cap(mn)

PE

Open

High

Low

Al-Abbas Cement 1828 Attock Cement 866 6.53 Berger Paints 182 Cherat Cement 956 38.54 Dadabhoy Cement 982 13.46 Dewan Cement 3891 DG Khan Cmt. Ltd XR 3651 10.21 Fauji Cement 6933 5.64 Fecto Cement 502 2.12 Flying Cement Ltd 1760 Frontier Ceramics 77 Haydery Const 32 Javedan Cement 581 Kohat Cement 1288 Lafarge Pakistan Cmt. 13126 Lucky Cement 3234 5.83 Maple Leaf Cement 5261 Maple Leaf(Pref) 541 2.57 Pioneer Cement 2271 Shabbir Tiles 361 Thatta Cement 798 938.50

2.40 51.72 16.60 9.50 1.65 1.69 23.81 4.08 6.80 1.55 2.48 0.42 60.50 5.98 3.07 65.01 2.26 4.26 5.97 7.54 18.77

2.92 52.75 16.40 10.00 1.75 1.72 24.01 4.14 7.00 1.70 2.50 0.55 63.52 6.14 3.14 65.70 2.39 3.55 6.15 7.50 18.50

2.35 51.50 15.80 9.15 1.52 1.67 23.50 4.01 6.99 1.38 2.40 0.46 57.50 5.95 3.01 64.56 2.25 3.50 5.90 6.65 17.77

Close 846.17 Listed cap 54,792.74 mn Payout (%) 19.04

Change -3.47 Market cap 69,506.41 mn Div Yield (%) 3.13

Close Chg

Volume

Last 60 days High Low

2.49 51.60 16.12 9.25 1.75 1.71 23.58 4.06 7.00 1.42 2.49 0.55 60.50 6.00 3.05 64.89 2.27 3.50 6.15 7.54 18.77

10112 7858 5886 5538 11704 54851 327487 421152 1000 24805 29644 11005 347 3003 183641 442423 30116 3300 6002 204 102

3.70 63.50 23.90 11.50 2.05 2.49 32.30 5.35 8.00 1.95 3.40 0.99 64.52 6.95 3.88 78.00 2.99 5.89 7.45 9.40 19.19

0.09 -0.12 -0.48 -0.25 0.10 0.02 -0.23 -0.02 0.20 -0.13 0.01 0.13 0.00 0.02 -0.02 -0.12 0.01 -0.76 0.18 0.00 0.00

2.15 48.50 14.72 8.00 1.50 1.50 21.20 3.97 6.30 1.30 0.71 0.25 56.17 5.11 2.65 59.55 1.92 3.50 5.17 5.13 16.20

2010 Div BR (%) (%)

2011 Div BR (%) (%)

- 100R 50 - 122R - 20R 40 - 50R

- 20R - 92R - 100R -

GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 934.40 Turnover 267,557 P/E (x) 2.69 Company

Paid up Cap(mn)

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

PE

Open

115 2.25 48.60 230 2.20 1067 5.35 51.50 389 2.73 9.25 47 16.38 29.00 844 - 112.47 300 8.31 137.67

High

High Low 962.09 935.80 Total cos Defaulter cos 13 2 P/BV (x) ROE (%) 1.18 43.91 Low

Close Chg

49.79 48.10 49.00 2.29 2.06 2.25 52.89 51.01 51.50 10.25 8.60 10.05 29.80 27.90 29.48 115.00 112.50 112.51 138.00 137.00 137.00

0.40 0.05 0.00 0.80 0.48 0.04 -0.67

Close 947.90 Listed cap 3,043.31 mn Payout (%) 15.55

Volume 4727 12710 967 242926 3224 1414 1529

Change 13.50 Market cap 35,731.85 mn Div Yield (%) 5.78

Last 60 days High Low 80.90 2.99 56.45 10.25 33.80 143.00 144.80

47.80 2.03 48.71 2.50 22.00 105.02 119.10

2010 Div BR (%) (%) 20 25 32.5 100

25B 10B -

% Change 1.45 5-Day High 947.90 5-Day Low 918.40 2011 Div BR (%) (%) -

50R -

INDUSTRIAL ENGINEERING Performance of SR Industrial Engineering Index Open 1,559.49 Turnover 59,570 P/E (x) 7.56 Company

Paid up Cap(mn)

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

66 215 214 213 124 132 366 57

High Low 1,568.31 1,550.66 Total cos Defaulter cos 11 1 P/BV (x) ROE (%) 2.87 38.02

PE

Open

High

Low

6.95 4.51 8.74 7.07 7.86 -

9.43 203.11 1.43 9.75 111.35 56.25 510.76 132.86

9.25 204.00 1.45 10.00 110.00 56.90 513.00 138.00

9.10 200.00 1.26 9.75 106.50 53.44 510.00 126.22

Close Chg 9.17 200.55 1.40 9.96 109.61 53.48 510.13 126.22

-0.26 -2.56 -0.03 0.21 -1.74 -2.77 -0.63 -6.64

Close 1,551.92 Listed cap 1,336.62 mn Payout (%) 131.49

Volume 500 15365 15302 15501 351 3237 8308 1006

Change -7.57 Market cap 30,908.54 mn Div Yield (%) 17.40

Last 60 days High Low 17.70 244.95 2.00 13.50 138.00 63.89 568.40 262.00

8.76 199.05 0.74 8.25 106.50 53.44 466.27 126.22

2010 Div BR (%) (%) 400 12.5 650 100

Company

Paid up Cap(mn)

Close 1,101.49 Listed cap 6,768.53 mn Payout (%) 20.42

Volume 634 9384 2021 896 17251 5000 18003 4002 8350 21332 29061 1002

Change 15.39 Market cap 40,613.73 mn Div Yield (%) 5.58

Last 60 days High Low 82.63 205.00 143.80 37.59 2.54 26.74 5.36 5.49 12.87 309.73 74.80 24.25

97.60 5.55 5.25 3.05 7.00 3.20 21.99 11.00 13.73 74.00 3.00 51.00 3.36 55.02 22.00 12.91 4.00 2.95 4.03 12.29 8.90 5.74 45.26

High 93.00 6.00 5.26 3.01 7.40 3.34 22.00 11.00 13.05 76.00 3.99 51.00 3.41 55.75 21.01 13.91 3.91 2.90 4.15 12.20 9.90 5.99 47.52

High Low 1,953.36 1,877.78 Total cos Defaulter cos 61 16 P/BV (x) ROE (%) 13.54 30.30

66.45 180.00 118.74 31.35 1.50 21.08 2.82 3.71 9.52 207.00 60.00 19.90

Low 93.00 5.45 5.25 3.00 6.85 3.12 21.52 11.00 13.05 73.05 3.10 51.00 3.11 55.25 20.90 13.48 3.90 2.90 4.15 11.75 9.11 5.50 43.01

Close Chg 97.60 6.00 5.25 3.01 7.09 3.12 21.74 11.00 13.73 73.88 3.00 51.00 3.11 55.60 21.00 13.91 3.90 2.90 4.15 12.18 9.63 5.50 47.46

0.00 0.45 0.00 -0.04 0.09 -0.08 -0.25 0.00 0.00 -0.12 0.00 0.00 -0.25 0.58 -1.00 1.00 -0.10 -0.05 0.12 -0.11 0.73 -0.24 2.20

Close 1,915.06 Listed cap 11,335.33 mn Payout (%) 30.57

Volume

2010 Div BR (%) (%) 90 100 50 25 20 150 5 10

-

% Change 1.42 5-Day High 1,101.49 5-Day Low 1,082.00 2011 Div BR (%) (%)

20B 15B - 50.00 20B 10.00

Change 5.11 Market cap 263,471.78 mn Div Yield (%) 0.68

Last 60 days High Low

196 102.89 6000 6.00 2000 6.50 501 4.25 93093 7.40 643 4.10 18708 33.95 1700 12.70 300 23.62 1312 92.50 102 5.95 2412 60.00 1050 6.70 1600 75.50 1596 27.24 9849 13.91 1000 6.75 2000 4.00 4000 4.75 2175 15.01 3524 12.25 1079 6.88 810 47.52

Pak Elektron Singer Pak Tariq Glass Ind

High Low 1,008.50 981.12 Total cos Defaulter cos 15 7 P/BV (x) ROE (%) 0.25 10.64

88.41 4.95 4.07 2.30 5.25 2.52 20.25 10.80 11.15 68.00 2.45 50.12 2.65 52.01 20.02 9.00 3.00 2.12 2.50 11.00 8.00 4.01 34.00

Close 986.32 Listed cap 3,763.71 mn Payout (%) 6.27

PE

Open

High

Low

Close Chg

Volume

1219 3.29 341 21.35 231 1.70

13.25 19.14 12.90

13.35 20.11 12.99

13.00 18.90 12.71

13.07 -0.18 19.00 -0.14 12.88 -0.02

165325 1672 2577

-

2010 Div BR (%) (%)

% Change 0.27 5-Day High 1,949.56 5-Day Low 1,898.27 2011 Div BR (%) (%)

50 25 25B 40 10 7010B 12.5R 35 20B 7.50 10 12 12 10 15 10 -

-

Change -8.99 Market cap 4,802.49 mn Div Yield (%) 2.63

Last 60 days High Low

2010 Div BR (%) (%)

15.88 24.09 24.00

17.5

12.07 17.55 12.50

10B -

% Change -0.90 5-Day High 995.31 5-Day Low 979.69 2011 Div BR (%) (%) - 200R

PERSONAL GOODS Performance of SR Personal Goods Index Open 975.98 Turnover 9,894,673 P/E (x) 6.38 Company

Paid up Cap(mn)

(Colony) Thal Amtex Limited Artistic Denim Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Brothers Textile Chenab Limited Colony Mills Ltd Crescent Jute D S Ind Ltd Data Textile Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning Gadoon Textile XD Gillette Pakistan Gul Ahmed Textile Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres Idrees Textile Khalid Siraj Kohat Textile Kohinoor Textile Masood Textile Mian Textile Mubarak Textile Mukhtar Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Quetta Textile Ravi Textile Regent Textile Reliance Weaving Ruby Textile Rupali Poly Saif Textile Sally Textile Salman Noman Sana Ind Sargoda Spinning Saritow Spinning Service Ind Shahpur Textile Taj Textile Thal Limited Treet Corp Tri-Star Poly Yousuf Weaving Zahoor Cotton

56 2594 840 4493 33 76 76 98 1150 2442 238 600 99 514 34 110 234 192 635 222 716 3105 180 107 208 1455 600 221 54 145 1617 3516 560 174 130 250 48 308 392 341 264 88 42 55 312 133 120 140 334 307 418 215 400 99

PE

Open

2.10 2.48 7.19 19.37 8.80 0.18 14.50 0.54 18.12 4.41 514.48 0.40 2.66 2.18 2.30 0.80 1.39 0.40 22.58 43.84 0.14 4.00 0.59 26.35 0.87 84.14 21.24 54.99 2.89 41.02 0.37 10.00 0.89 4.43 3.40 47.50 2.47 4.50 0.24 1.21 0.37 1.12 7.40 4.25 2.01 17.81 0.60 4.77 1.05 0.32 4.39 27.90 5.69 63.96 3.11 18.76 0.66 13.35 0.92 51.49 1.02 95.92 26.25 0.63 11.75 7.80 3.90 42.00 0.43 7.71 0.26 6.52 0.66 3.00 2.95 41.00 1.38 4.55 0.36 1.80 6.70 195.00 0.63 0.45 0.20 5.31 108.01 5.79 46.38 0.52 0.57 1.20 0.50

High

High Low 990.09 967.93 Total cos Defaulter cos 211 73 P/BV (x) ROE (%) 0.55 8.64 Low

Close Chg

2.20 2.05 2.20 0.10 2.60 2.41 2.53 0.05 20.30 18.55 20.00 0.63 9.00 8.60 8.68 -0.12 14.02 14.00 14.00 -0.50 19.12 17.60 19.12 1.00 535.00 508.01 508.03 -6.45 0.60 0.20 0.59 0.19 2.85 2.60 2.60 -0.06 2.50 2.13 2.48 0.18 1.08 0.70 0.98 0.18 1.55 1.35 1.35 -0.04 0.45 0.20 0.45 0.05 45.50 43.20 44.03 0.19 4.10 4.00 4.00 0.00 26.90 26.00 26.00 -0.35 88.34 85.40 88.34 4.20 57.73 52.25 52.25 -2.74 42.00 41.25 41.25 0.23 10.00 10.00 10.00 0.00 4.65 4.40 4.41 -0.02 48.72 46.99 47.00 -0.50 4.45 4.45 4.50 0.00 1.30 1.10 1.24 0.03 1.15 1.15 1.15 0.03 4.80 4.15 4.29 0.04 18.80 17.22 18.80 0.99 0.60 0.60 0.60 0.00 1.20 1.00 1.05 0.00 0.43 0.33 0.36 0.04 28.85 27.86 28.51 0.61 64.49 63.57 64.09 0.13 19.55 18.66 19.44 0.68 12.75 12.75 13.35 0.00 52.99 51.00 51.00 -0.49 1.15 0.60 1.01 -0.01 24.94 24.94 24.94 -1.31 12.25 11.60 12.25 0.50 7.80 6.80 7.80 0.00 42.90 42.00 42.01 0.01 8.71 8.24 8.71 1.00 7.39 6.70 6.86 0.34 3.00 3.00 3.00 0.00 41.00 39.00 39.00 -2.00 4.99 4.36 4.58 0.03 1.80 1.80 1.80 0.00 204.00 195.00 195.81 0.81 0.60 0.45 0.45 0.00 0.30 0.30 0.30 0.10 109.45 106.00 107.15 -0.86 48.65 46.00 47.12 0.74 0.70 0.70 0.52 0.00 1.20 1.13 1.20 0.00 0.55 0.55 0.55 0.05

Close 976.39 Listed cap 47,070.70 mn Payout (%) 16.68

Volume

Change 0.41 Market cap 131,369.66 mn Div Yield (%) 2.61

Last 60 days High Low

2091 2.50 191878 4.68 28701 24.50 3979077 12.84 1000 16.60 40952 19.12 159 700.00 2251 1.31 9478 3.40 504 2.97 8535 1.43 127863 1.96 525 1.10 73651 49.05 3001 8.90 1003 27.66 35067 91.00 2251 62.70 2450 44.70 1000 11.00 10603 5.20 4252 55.00 400 4.95 1175 1.69 2000 2.50 26106 5.95 1528 20.74 994 0.75 2012 1.30 10187 0.84 4264896 29.25 713144 71.89 14358 19.90 200 15.49 1000 54.10 32247 1.70 500 26.25 4004 13.79 101 0.00 15001 44.40 7942 11.50 15432 7.94 1000 6.35 711 49.66 3740 5.00 502 2.50 947 253.00 472 0.95 2000 0.37 15976 132.00 223858 62.40 199 1.29 501 1.99 5000 0.87

2010 Div BR (%) (%)

0.50 2.35 - 30B 18.55 20 8.05 9.50 - 15B 12.90 20 493.50 280 0.13 2.05 2.00 0.32 1.20 0.08 35.00 5 15B 3.30 19.31 35 65.00 70 52.25 26.37 12.5 6.56 10 20B 3.31 10 40.00 20 3.01 10 0.25 0.85 3.60 17.00 15 100R 0.25 0.25 0.13 21.95 15 57.20 25 45R 8.90 8.50 10 10B 34.35 20 0.40 24.94 8.60 25SD 0.00 35.25 40 3.90 3.63 10 3.00 5B 39.00 60 2.25 5 1.00 186.00 0.15 0.08 100.51 80 20B 44.10 0.33 1.08 0.25 -

% Change 0.04 5-Day High 976.39 5-Day Low 972.10 2011 Div BR (%) (%) -

-

PHARMA AND BIO TECH Performance of SR Pharma and Bio Tech Index Open 910.15 Turnover 40,942 P/E (x) 6.52

2011 Div BR (%) (%) -

-

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

58.51

Total Assets (Rs in mn)

12,372.62

MA (10-day)

17.63

Total Equity (Rs in mn)

6,785.66

MA (100-day)

16.59

Revenue (Rs in mn)

2,170.95

MA (200-day)

16.27

Interest Expense

1st Support

17.34

Profit after Taxation

2nd Support

16.66

EPS 09 (Rs)

1st Resistance

18.38

Book value / share (Rs)

22.62

2nd Resistance

18.74

PE 10 E (x)

46.71

Pivot

17.70

PBV (x)

0.00 269.91 0.90

0.80

PAKRI closed up 1.00 at 18.06. Volume was 156 per cent above average (trending) and Bollinger Bands were 70 per cent wider than normal. The company's profit after taxation stood at Rs88.468 million which translates into an Earning Per Share of Rs0.29 for the nine months of current calendar year (9MCY10). PAKRI is currently 11.0 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into PAKRI (mildly bullish). Trend forecasting oscillators are currently bullish on PAKRI.

Silkbank Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

36.50

Total Assets (Rs in mn)

MA (10-day)

2.17

Total Equity (Rs in mn)

MA (100-day)

2.55

Revenue (Rs in mn)

5,913.32

MA (200-day)

2.68

Interest Expense

68,664.34

5,855.52

1st Support

2.00

Loss after Taxation

2nd Support

1.92

EPS 09 (Rs)

1st Resistance

2.18

Book value / share (Rs)

2nd Resistance

2.28

PE 10 E (x)

Pivot

2.10

PBV (x)

196.91

(2,902.91) (3.224) 0.22 9.42

SILK closed down -0.08 at 2.06. Volume was 42 per cent below average and Bollinger Bands were 3 per cent wider than normal. The company's loss after taxation stood at Rs1.131 billion which translates into a Loss Per Share of Rs0.49 for the year ended CY10. SILK is currently 23.2 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of SILK at a relatively equal pace. Trend forecasting oscillators are currently bearish on SILK.

NIB Bank Limited

HOUSEHOLD GOODS

% Change -0.49 5-Day High 1,566.31 5-Day Low 1,551.92

25B325.00 -

Open

Open 995.31 Turnover 169,574 P/E (x) 2.39

-

% Change -0.41 5-Day High 955.95 5-Day Low 828.16

2011 Div BR (%) (%)

Performance of SR Household Goods Index

CONSTRUCTION AND MATERIALS High Low 862.47 836.64 Total cos Defaulter cos P/BV (x) ROE (%) 0.43 7.10

-

FOOD PRODUCERS

Performance of SR Construction and Materials Index Open 849.64 Turnover 8,701,093 P/E (x) 6.08

72.70 72.70 72.70 0.67 198.90 195.00 197.06 1.76 137.00 136.00 136.64 2.51 37.35 37.00 37.00 1.41 2.25 1.99 2.03 -0.04 23.50 22.70 23.49 0.24 3.50 3.30 3.42 0.20 4.49 4.29 3.60 -0.60 10.05 9.75 10.05 0.26 218.50 210.00 211.27 1.27 65.22 61.03 65.11 2.99 23.90 23.40 23.40 -0.55

Open 1,909.95 Turnover 155,974 P/E (x) 44.68

INDUSTRIAL METALS AND MINING High Low 1,045.41 1,023.18 Total cos Defaulter cos 7 1 P/BV (x) ROE (%) 1.04 33.10

40 15

Performance of SR Food Producers Index

Performance of SR Industrial Metals and Mining Index Open 1,038.55 Turnover 39,005 P/E (x) 3.15

2010 Div BR (%) (%)

AUTOMOBILE AND PARTS

Company

High Low 1,789.94 1,759.68 Total cos Defaulter cos 36 6 P/BV (x) ROE (%) 3.02 35.00

% Change -0.52 5-Day High 677.15 5-Day Low 672.04

Performance of SR Automobile and Parts Index

Performance of SR Chemicals Index

Company

Pakistan Reinsurance Co Ltd

Performance of SR Industrial Transportation Index

Close Change 1,418.95 -4.61 Listed cap Market cap 65,194.15 mn 1,047,217.83 mn Payout (%) Div Yield (%) 55.94 5.69

CHEMICALS Open 1,764.99 Turnover 23,855,762 P/E (x) 8.63

Alert ! Unusual Movements

INDUSTRIAL TRANSPORTATION

Performance of SR Oil and Gas Index Open 1,423.56 Turnover 3,763,218 P/E (x) 9.83

KSE 30 Index

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

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

High Low 927.54 912.32 Total cos Defaulter cos 9 P/BV (x) ROE (%) 1.45 22.31

Close 917.06 Listed cap 3,904.20 mn Payout (%) 44.54

PE

Open

High

Low

Close Chg

Volume

6.97 5.96 16.28 7.40 4.61 5.24

83.34 88.15 81.98 26.34 11.90 60.03

85.79 90.51 82.80 26.90 12.80 61.10

83.00 90.50 81.81 26.40 11.02 60.00

83.81 0.47 88.15 0.00 82.70 0.72 26.71 0.37 11.72 -0.18 60.00 -0.03

610 145 5303 12704 952 21170

112.50 98.00 89.98 30.48 12.80 69.00

78.59 85.00 68.00 24.50 7.16 58.05

32.77

Total Assets (Rs in mn)

208,118.96

MA (10-day)

2.05

Total Equity (Rs in mn)

41,643.27

MA (100-day)

2.71

Revenue (Rs in mn)

18,272.36

MA (200-day)

2.83

Interest Expense

12,872.36

1st Support

2.00

Profit after Taxation

2nd Support

1.96

EPS 09 (Rs)

0.171

1st Resistance

2.09

Book value / share (Rs)

10.30

2nd Resistance

2.14

PE 10 E (x)

Pivot

2.05

PBV (x)

691.05

0.20

NIB closed unchanged at 2.02. Volume was 31 per cent above average and Bollinger Bands were 28 per cent wider than normal. The company's loss after taxation stood at Rs10.112 billion which translates into a Loss Per Share of Rs2.50 for the year ended CY10. NIB is currently 28.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of NIB (bearish). Trend forecasting oscillators are currently bearish on NIB.

Azgard Nine Limited

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

38.35

Total Assets (Rs in mn)

38,525.22

MA (10-day)

8.99

Total Equity (Rs in mn)

18,469.71

MA (100-day)

10.31

Revenue (Rs in mn)

11,737.86

MA (200-day)

10.57

Interest Expense

2,424.42

1st Support

8.50

Profit after Taxation

60.53

2nd Support

8.35

EPS 09 (Rs)

0.003

1st Resistance

8.90

Book value / share (Rs)

37.85

2nd Resistance

9.15

PE 10 E (x)

Pivot

8.75

PBV (x)

0.23

ANL closed down -0.12 at 8.68. Volume was 24 per cent below average and Bollinger Bands were 51 per cent narrower than normal. The company's loss after taxation stood at Rs1.395 billion which translates into a Loss Per Share of Rs3.13 for the year ended CY10. ANL is currently 17.9 per cent below its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of ANL at a relatively equal pace. Trend forecasting oscillators are currently bearish on ANL.

BOOK CLOSURES Company

From

To

Punjab Oils Mills # Kohinoor Industries # Trust Sec & Brokerage # Sitar Peroxide # Wyeth Pakistan East West Life Assurance Picic Insurance # Engro Polymer & Chemicals Saritow Spinning Mills # Azam Textile Mills # Sajjad Textile Mills # Balochistan P Board # Indus Dyeing & Mfg Yousuf Weaving Mills # Kohinoor Spinning Mills # Chakwal Spinning Mills # IBL Healthcare # First Credit & Investment Bank # Ruby Textile Mills # Hala Enterprises #

26-Mar 26-Mar 27-Mar 28-Mar 28-Mar 29-Mar 30-Mar 31-Mar 31-Mar 31-Mar 01-Apr 01-Apr 01-Apr 01-Apr 01-Apr 01-Apr 02-Apr 04-Apr 04-Apr 05-Apr

02-Apr 01-Apr 02-Apr 04-Apr 04-Apr 04-Apr 05-Apr 14-Apr 06-Apr 06-Apr 08-Apr 08-Apr 07-Apr 08-Apr 08-Apr 08-Apr 08-Apr 12-Apr 11-Apr 12-Apr

D/B/R 10 (F) 50(I) -

Spot AGM/Date 17-Mar -

02-Apr 26-Mar 02-Apr 04-Apr 28-Mar 29-Mar 05-Apr 14-Apr 31-Mar 31-Mar 08-Apr 08-Apr 08-Apr 08-Apr 08-Apr 08-Apr 12-Apr 11-Apr 12-Apr

INDICATIONS

Change 6.91 Market cap 30,233.56 mn Div Yield (%) 6.83

Last 60 days High Low

Fundamental Highlights As on Dec 31, 2009

Technical Analysis RSI (14-day)

2010 Div BR (%) (%) 50 40 30

% Change 0.76 5-Day High 917.06 5-Day Low 899.26 2011 Div BR (%) (%)

20B 12.50 15B -

-

# Extraordinary General Meeting

OTHER SECTORS Symbols Climax Eng. Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Pak Tobacco Shifa Int.Hospitals Media Times LtdXR P.I.A.C.(A) Pak Services AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies

Open 4 52 3.01 101.06 145.56 95.79 29.01 20.99 2.8 157.5 38.38 3.22 21.86

High 4 52 3.05 104.89 152.75 95.9 30.46 21.5 3.2 149.69 40.16 3.28 21.9

Low Close 4 4 52 52 2.95 3.01 100 100.3 139.3 147.74 95 95.9 30 29.01 19.95 19.9845 2.75 2.75 149.63 149.63 37.2 39.29 3.1 3.16 21.62 21.75

Change 0 0 0 -0.76 2.18 0.11 0 -1.0055 -0.05 -7.87 0.91 -0.06 -0.11

Vol 2000 1299 606672 3130 3296 2501 314 105 21826 363 748 247106 76931


7

Saturday, March 26, 2011

FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 995.92 Turnover 1,037,491 P/E (x) 5.41 Paid up Cap(mn)

Company

High Low 1,004.44 990.67 Total cos Defaulter cos 5 P/BV (x) ROE (%) 0.69 12.84

PE

Open

High

Low

Close Chg

Pak Datacom XD 78 5.15 Pakistan Telecomm Co A 37740 11.25 Telecard 3000 1.25 WorldCall Tele 8606 Wateen Telecom Ltd 6175 -

46.10 16.84 1.93 2.66 2.68

48.40 16.95 1.96 2.72 3.04

47.20 16.80 1.90 2.55 2.70

47.39 16.88 1.90 2.60 2.99

1.29 0.04 -0.03 -0.06 0.31

Close 996.24 Listed cap 50,077.79 mn Payout (%) 62.56

Volume 504 435941 98713 502333 915017

Change 0.31 Market cap 68,730.43 mn Div Yield (%) 11.56

% Change 0.03 5-Day High 996.24 5-Day Low 987.65

Last 60 days High Low

2010 Div BR (%) (%)

82.39 20.65 2.48 3.11 4.65

80 17.5 1 -

45.50 16.61 1.60 2.15 2.65

2011 Div BR (%) (%)

- 15.00 -

-

Ask Gen Insurance

255

4.68

11.00

11.45

10.90

10.90 -0.10

1001

12.00

9.51

-10B 25R

-

-

Atlas InsuranceXDXB

443

4.31

27.94

28.70

26.60

28.29 0.35

9703

42.90

26.60

-

20B

-

-

279 457

5.96 100.01 6.40 10.20

105.01 10.50

98.00 104.89 4.88 10.10 10.24 0.04

56404 13244

105.01 11.99

61.30 8.90

25 -

50B -

-

-

36.90 101.43 18.06

35.50 97.60 17.02

29491 45.00 969 102.44 1763026 19.40

32.25 88.11 13.80

30 -

55B -

-

-

Central Insurance XB Century Insurance EFU General Insurance IGI Insurance Pak Reinsurance

1250 718 8.40 3000 46.31

Pak Gen Insurance PICIC Ins Ltd

35.67 97.81 17.06

250 2.04 350 82.86

7.70 11.90

8.70 11.61

8.00 11.60

8.65 0.95 11.60 -0.30

8001 500

9.95 13.00

6.20 7.35

Premier Insurance

303

6.23

11.48

11.58

11.36

11.52 0.04

11802

12.93

10.10

-

-

-

-

Reliance Insurance XB Shaheen Insurance Silver Star Insurance

252 200 253

4.87 4.34

7.60 9.08 7.00

7.99 10.08 7.00

7.50 9.08 6.75

7.94 0.34 10.06 0.98 6.99 -0.01

5270 2820 7570

7.99 14.20 8.20

6.20 8.85 6.01

-

-

-

25R -

United Insurance XB

400

2.46

7.11

7.67

7.50

7.50 0.39

11641

7.90

5.50

-

-

-

-

ELECTRICITY

Paid up Cap(mn)

Company

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

PE

198 11572 1560 7932 1695 8803 3673 3541 191 1367 150

6.77 7.39 5.24 3.19 2.45 5.17 -

Open 0.70 36.81 1.40 2.57 17.00 40.73 15.95 16.87 16.55 1.67 0.65

0.79 37.00 1.44 2.65 17.25 40.85 16.05 17.09 17.00 1.68 0.74

Low 0.55 36.60 1.35 2.55 16.51 40.65 15.70 16.71 16.61 1.60 0.60

Close Chg 0.65 36.94 1.39 2.60 17.00 40.80 15.88 16.74 16.96 1.63 0.60

-0.05 0.13 -0.01 0.03 0.00 0.07 -0.07 -0.13 0.41 -0.04 -0.05

Close 1,333.92 Listed cap 95,369.29 mn Payout (%) 104.13

Volume 30304 731909 24833 327600 218 47726 300849 227164 28398 18350 1104

Change 3.57 Market cap 103,224.14 mn Div Yield (%) 7.66

Last 60 days High Low 1.09 41.20 2.00 3.55 22.85 45.85 18.01 18.70 19.25 2.39 1.31

0.55 35.90 1.25 2.31 16.00 39.80 14.05 14.85 16.40 1.41 0.50

% Change 0.27 5-Day High 1,350.36 5-Day Low 1,319.62

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

2011 Div BR (%) (%)

- 25.00 7.8R - 10.00 - 30.00 -

-

Open 744.68 Turnover 80,589 P/E (x) 5.45

Paid up Cap(mn)

Company

High Low 1,432.63 1,373.10 Total cos Defaulter cos 2 P/BV (x) ROE (%) 1.03 11.41

Close 1,400.22 Listed cap 12,202.80 mn Payout (%) 66.79

Change -9.75 Market cap 31,504.51 mn Div Yield (%) 7.41

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

5491 11.37 8390 3.75

19.82 24.71

19.95 25.30

19.11 24.26

19.33 -0.49 24.90 0.19

377648 439882

29.39 27.90

19.11 20.11

% Change -0.69 5-Day High 1,409.97 5-Day Low 1,367.06

2010 Div BR (%) (%) 20 15

2011 Div BR (%) (%)

25B

-

-

BANKS Performance of SR Banks Index Open 1,113.97 Turnover 11,550,946 P/E (x) 7.10 Paid up Cap(mn)

Company

PE

Open

Allied Bank Ltd.XDXB Askari Bank XB Bank Alfalah Bank AL-HabibXDXB Bank Of Khyber Bank Of Punjab BankIslami Pak Faysal Bank Habib Bank LtdXDXB

8603 5.56 59.75 7070 5.97 12.78 13492 7.15 9.89 8786 5.86 28.54 5004 3.63 4.19 5288 6.57 5280 40.00 3.67 7327 3.94 12.39 11021 6.60 106.18 Habib Metropolitan Bank XB 10478 5.72 18.51 JS Bank Ltd 8150 2.75 KASB Bank Ltd 9509 1.43 MCB Bank LtdXDXB 8362 8.81 194.88 Meezan Bank XB 8030 6.99 16.69 Mybank Ltd 5304 2.03 National BankXDXB 16818 4.94 57.67 NIB Bank 40437 2.02 Samba Bank 14335 1.66 Silkbank Ltd 26716 2.14 Soneri Bank 6023 28.57 6.02 Stand Chart Bank XD 38716 8.64 8.35 Summit Bank Ltd 7251 2.71 United Bank Ltd XD 12242 7.01 59.48

High

High Low Close 1,126.76 1,104.30 1,111.46 Total cos Defaulter cos Listed cap 27 - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 0.99 13.94 40.49 Low

Close Chg

60.16 58.50 58.96 -0.79 12.85 12.50 12.53 -0.25 9.85 9.55 9.65 -0.24 29.60 28.30 28.81 0.27 4.20 4.10 4.10 -0.09 6.65 6.32 6.41 -0.16 3.86 3.58 3.60 -0.07 12.49 12.10 12.22 -0.17 106.99 105.50 105.59 -0.59 18.70 18.55 18.69 0.18 2.91 2.61 2.87 0.12 1.47 1.40 1.47 0.04 196.40 195.00 195.66 0.78 16.90 16.35 16.50 -0.19 2.19 2.00 2.10 0.07 58.10 56.25 56.58 -1.09 2.10 2.01 2.02 0.00 1.73 1.63 1.67 0.01 2.20 2.02 2.06 -0.08 6.09 6.00 6.00 -0.02 8.99 8.20 8.21 -0.14 2.80 2.36 2.61 -0.10 60.00 59.17 59.65 0.17

Volume

Change -2.51 Market cap 653,703.68 mn Div Yield (%) 5.70

Last 60 days High Low

18650 74.00 47339 19.25 416198 11.99 921010 39.49 10180 4.65 2585054 10.23 20085 4.50 23074 16.47 19269 131.00 46596 29.28 83307 3.16 24035 2.62 462710 250.48 1810 20.30 9590 3.40 3018620 81.78 2305485 3.35 16010 2.12 808510 3.05 9978 8.48 5259 9.90 156021 4.63 698177 70.65

57.00 12.13 8.75 26.95 3.30 6.32 3.06 10.69 105.10 18.50 2.30 1.40 192.20 16.26 1.70 54.85 1.90 1.50 2.02 5.00 6.28 2.36 56.70

% Change -0.23 5-Day High 1,113.97 5-Day Low 1,088.96

2010 Div BR (%) (%)

2011 Div BR (%) (%)

40 10B - 10B 20 20B - 20B 65 10B - 20B - 66R 85 10B - 15B 75 25B -154.79R -63.46R 6 50 -

-

-

NON LIFE INSURANCE Performance of SR Non Life Insurance Index Open 730.52 Turnover 2,086,457 P/E (x) 12.58 Paid up Cap(mn)

Company Adamjee Insurance

-

High Low 753.23 726.74 Total cos Defaulter cos 34 22 P/BV (x) ROE (%) 0.65 5.20

Close 739.14 Listed cap 11,111.34 mn Payout (%) 79.54

Change 8.61 Market cap 47,469.85 mn Div Yield (%) 6.33

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

1237 16.72

70.35

71.90

69.25

70.07 -0.28

164983

96.40

68.92

% Change 1.18 5-Day High 756.85 5-Day Low 730.52

2010 Div BR (%) (%) 25

2011 Div BR (%) (%)

-

-

-

High Low 780.47 740.93 Total cos Defaulter cos 4 P/BV (x) ROE (%) 2.95 3.85

Close 772.18 Listed cap 2,290.72 mn Payout (%) 355.53

Change 27.50 Market cap 9,033.76 mn Div Yield (%) 4.64

Last 60 days High Low

% Change 3.69 5-Day High 772.18 5-Day Low 742.34

PE

Open

High

Low

Close Chg

500

-

1.55

1.90

1.50

1.50 -0.05

1005

3.84

1.50

-

20R

-

-

EFU Life Assurance 850 34.73 New Jub Life Insurance XD627 20.19

59.00 45.00

61.95 47.25

58.50 45.10

61.13 2.13 47.25 2.25

12083 67501

79.80 47.90

51.31 39.05

15

-

-

-

Volume

2010 Div BR (%) (%)

2011 Div BR (%) (%)

FINANCIAL SERVICES Performance of SR Financial Services Index Open 334.35 Turnover 2,550,518 P/E (x) 11.48

GAS WATER AND MULTIUTILITIES

Sui North Gas Sui South Gas

-

Paid up Cap(mn)

Company East West Life

Performance of SR Gas Water and Multiutilities Index Open 1,409.97 Turnover 817,530 P/E (x) 9.02

-

Performance of SR Life Insurance Index

High Low 1,339.74 1,321.91 Total cos Defaulter cos 15 1 P/BV (x) ROE (%) 1.27 9.35

High

-

LIFE INSURANCE

Performance of SR Electricity Index Open 1,330.34 Turnover 1,738,456 P/E (x) 13.59

36.27 0.60 97.73 -0.08 18.06 1.00

Paid up Cap(mn)

Company

High Low 340.13 327.24 Total cos Defaulter cos 41 6 P/BV (x) ROE (%) 0.22 0.91

PE

Open

High

Low

225 1.04 360 3.67 450 16.40 3750 4.67 First Credit & Invest Bank Ltd 650 First National Equity 575 IGI Investment Bank 2121 9.14 Invest and Fin Sec 600 5.16 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.79 Jah Siddiq Co 7633 JOV and CO 508 775.00 JS Global Cap 500 6.28 JS Investment 1000 KASB Securities 1000 7.44 Orix Leasing 821 4.24 Pervez Ahmed Sec 775 3.90 Saudi Pak Leasing 452 Stand Chart Leasing 978 3.76

0.63 22.46 20.50 23.81 3.85 4.99 2.00 6.10 0.42 3.09 1.57 8.66 3.02 23.00 6.26 4.51 6.00 1.90 0.94 2.61

0.69 22.99 20.94 24.20 3.99 4.50 2.24 6.70 0.58 3.10 1.60 8.74 3.28 23.00 6.26 4.68 6.10 2.00 0.63 2.94

0.50 21.60 19.77 23.83 3.26 4.45 2.00 5.25 0.42 2.99 1.50 8.53 3.01 21.85 5.91 4.50 5.76 1.86 0.62 2.65

AMZ Ventures Arif Habib Investments Arif Habib Limited Arif Habib Corp

Close Chg 0.50 21.60 20.01 23.91 3.85 4.45 2.01 6.40 0.45 3.00 1.51 8.59 3.10 21.85 5.99 4.54 6.10 1.87 0.94 2.78

-0.13 -0.86 -0.49 0.10 0.00 -0.54 0.01 0.30 0.03 -0.09 -0.06 -0.07 0.08 -1.15 -0.27 0.03 0.10 -0.03 0.00 0.17

Close 330.91 Listed cap 30,336.44 mn Payout (%) 99.56

Volume 107742 1104 11473 1097890 300 1152 24607 308500 32929 39013 27000 1611242 71777 28492 66951 182335 1316 29623 251 5005

Change -3.44 Market cap 15,771.93 mn Div Yield (%) 4.16

% Change -1.03 5-Day High 338.73 5-Day Low 330.91

Last 60 days High Low

2010 Div BR (%) (%)

0.93 24.86 28.00 30.20 4.00 9.00 3.90 8.98 1.09 3.79 2.00 12.80 4.49 31.50 7.40 5.43 6.90 2.49 0.97 3.00

30 11.5 10 -

0.33 17.00 18.31 18.75 2.30 4.00 1.90 5.15 0.31 2.90 1.24 8.01 2.58 20.80 5.00 3.75 5.25 1.21 0.41 1.67

2011 Div BR (%) (%)

20B 20B 10B -

-

-

EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,445.01 Turnover 310,509 P/E (x) 19.82

High Low 1,497.50 1,439.03 Total cos Defaulter cos 52 11 P/BV (x) ROE (%) 0.44 2.21

Close 1,456.87 Listed cap 29,771.58 mn Payout (%) 104.74

Change 11.86 Market cap 18,661.56 mn Div Yield (%) 8.21

% Change 0.82 5-Day High 1,456.87 5-Day Low 1,427.36

Paid up Cap(mn)

PE

Open

High

Low

Close Chg

Volume

Last 60 days High Low

2010 Div BR (%) (%)

2011 Div BR (%) (%)

AL-Meezan Mutual F.XD 1375

4.07

10.13

10.34

10.05

10.10 -0.03

19151

11.50

7.81

18.5

-

5.00

-

Atlas Fund of Funds B F Modaraba B R R Guardian Mod. Crescent St Modaraba Elite Cap Modaraba

525 75 780 200 113

1.82 1.21 1.83 1.23 3.35

6.61 4.65 1.59 0.54 2.75

6.85 4.25 1.70 0.65 3.00

6.12 4.25 1.55 0.47 2.75

6.85 4.25 1.68 0.54 2.75

0.24 -0.40 0.09 0.00 0.00

70010 2008 515 225 1496

6.97 4.65 2.79 0.87 3.49

4.25 3.21 1.12 0.40 2.12

2.2 0 1.2 5

10B -

-

-

Equity Modaraba Golden Arrow Habib Modaraba JS Growth Fund

524 760 1008 3180

1.01 1.46 6.43 2.38

1.64 3.21 7.48 6.02

1.97 3.28 7.59 6.38

1.62 3.08 7.46 6.00

1.66 3.19 7.46 6.20

0.02 -0.02 -0.02 0.18

3696 71481 6120 49394

2.98 3.89 7.65 6.47

1.30 2.92 6.65 4.61

17 21 5

-

-

-

JS Value Fund Meezan Balanced F. NAMCO Balanced F. Paramount Modaraba PICIC Energy Fund XD

1186 1200 1000 59 1000

1.30 2.63 2.19 6.09 3.00

5.34 9.30 4.51 9.38 7.15

5.39 9.16 5.28 9.75 7.45

5.20 9.07 4.70 9.74 7.25

5.39 9.16 4.74 9.38 7.25

0.05 -0.14 0.23 0.00 0.10

45511 5575 520 210 1010

6.61 10.24 5.28 9.90 8.83

4.20 7.30 2.92 8.21 6.21

10 15.5 15 18 10

- 10.00

-

PICIC Growth Fund XD 2835 PICIC Inv Fund XD 2841 Prud Modaraba 1st 872 Stand Chart Modaraba 454

3.62 3.03 1.81 5.05

12.25 5.45 0.95 9.90

12.39 5.62 1.10 10.50

12.05 5.31 0.91 9.60

12.09 5.58 0.94 9.90

-0.16 0.13 -0.01 0.00

30216 2129 501 130

16.49 7.95 1.20 10.63

12.00 5.10 0.80 9.07

20 10 3 17

- 12.50 - 7.50 -

-

Tri-Star Mutual

0.67

0.71

1.29

1.00

1.93

0.60

-

-

-

Company

50

1.01 0.30

530

-

UPTO 100 VOLUME Symbols MFFL MUCL ZIL ALNRS SIEM WYETH FECS ILTM SHJS NJICL PMPK CFL AGSML SCL COLG FFLM NESTLE BGL ULEVER FCONM FHBM FNBM MODAM RMPL SFWF SJTM FZTM PAKMI ISIL SMCPL UPFL FDMF ZAHT IDSM EMCO HAJT TSBL FPJM KOIL SIBL SMTM BUXL CSIL DCM FTSM GRAYS HICL IDYM JOPP KML KOHP MIRKS MQTM MWMP PICTPS PTEC UDPL WAHN

Open 69.00 11.46 64.22 40.07 1026.10 930.00 37.85 210.50 65.56 67.35 245.19 15.10 5.50 85.50 759.03 1.41 3047.96 2.11 4726.03 1.30 7.31 5.00 1.26 2400.46 7.00 1.00 389.44 0.85 82.13 5.36 1200.21 1.89 5.80 9.25 2.10 0.50 4.02 1.36 1.41 2.65 5.45 9.00 4.24 1.29 1.30 46.48 12.65 313.54 8.60 1.52 2.51 44.66 7.90 1.00 7.50 1.47 14.10 36.50

High 69.01 11.00 67.00 42.07 1077.40 970.00 35.97 210.00 65.64 69.00 248.50 14.10 6.40 81.29 784.00 2.34 3140.00 2.05 4860.00 1.89 7.77 5.59 1.40 2430.00 7.97 1.00 369.97 1.20 78.06 5.93 1200.00 2.37 6.80 8.40 2.30 1.08 4.19 1.63 1.53 2.99 6.35 9.72 4.45 1.75 2.00 47.00 13.15 325.85 7.80 2.50 3.51 45.00 8.75 1.20 8.50 1.99 14.10 37.97

Low

Close

69.00 11.00 67.00 41.90 1044.99 970.00 35.97 210.00 64.98 68.99 233.03 14.10 4.60 81.25 728.00 1.73 3021.00 2.05 4613.01 1.47 7.77 5.58 1.30 2315.00 7.97 1.00 369.97 1.10 78.03 4.41 1141.00 2.37 6.75 8.30 2.30 0.87 4.15 1.62 1.50 2.99 6.35 9.72 4.45 1.75 2.00 47.00 13.15 325.85 7.80 2.50 3.51 45.00 8.75 1.20 8.50 1.99 14.10 37.97

69.00 11.46 64.22 40.07 1074.75 970.00 37.85 210.50 65.56 67.35 245.19 15.10 5.50 85.50 759.03 1.41 3070.44 2.11 4727.69 1.30 7.31 5.00 1.26 2400.46 7.00 1.00 389.44 0.85 82.13 5.36 1200.21 1.89 5.80 9.25 2.10 0.50 4.02 1.36 1.41 2.65 5.45 9.00 4.24 1.29 1.30 46.48 12.65 313.54 8.60 1.52 2.51 44.66 7.90 1.00 7.50 1.47 14.10 36.50

Change

Vol

0.00 0.00 0.00 0.00 48.65 40.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22.48 0.00 1.66 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 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00

100 100 100 64 60 58 50 50 39 30 26 25 21 18 17 16 15 13 12 10 10 10 10 10 10 10 9 7 6 6 6 5 5 4 3 3 3 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

FUTURE CONTRACTS Symbols

Open

HUBC-MARB 37.22 UBL-MARB 60.00 POL-APR 325.33 NBP-APR 58.34 ANL-MAR 8.81 NBP-MARB 57.68 ENGRO-APR 201.70 MCB-APR 196.71 MCB-MAR 195.36 POL-MAR 322.36 FFBL-APR 40.07 FFBL-MAR 39.74 ENGRO-MAR 199.79 FFC-MAR 129.68 NML-MAR 64.01 DGKC-MAR 23.92 BOP-MAR 6.53 DGKC-APR 24.13 PPL-APR 207.07 NCL-MAR 28.08 PPL-MAR 206.64 NML-APR 64.44 FFC-APR 130.71 PTC-MAR 16.79 PSO-MAR 277.03 OGDC-MAR 137.95 PTC-APR 17.00 AICL-MAR 70.40 LUCK-MAR 65.05 ATRL-APR 124.07 UBL-APR 59.80 LUCK-APR 65.45 NETSOL-MAR 21.70

High 38.00 60.99 327.50 58.50 8.96 58.00 204.98 198.01 196.25 325.25 41.15 40.43 203.00 130.70 64.35 23.99 6.50 24.17 209.35 28.68 208.00 64.75 131.89 16.90 277.25 138.00 17.19 71.00 65.49 124.50 60.00 65.75 21.90

Low

Close

35.65 58.52 321.00 56.85 8.60 56.20 201.75 196.25 195.00 319.20 40.00 39.60 199.60 129.00 63.73 23.49 6.30 23.72 206.50 28.00 205.01 64.25 130.00 16.70 275.10 137.00 17.00 69.00 64.60 121.00 59.19 65.25 21.70

36.83 59.40 321.91 57.21 8.67 56.59 202.70 197.78 195.41 320.19 40.47 40.06 200.70 129.48 64.05 23.55 6.37 23.88 206.98 28.34 206.16 64.43 130.12 16.85 275.66 137.44 17.05 69.66 65.03 121.99 60.00 65.57 21.70

Change -0.39 -0.60 -3.42 -1.13 -0.14 -1.09 1.00 1.07 0.05 -2.17 0.40 0.32 0.91 -0.20 0.04 -0.37 -0.16 -0.25 -0.09 0.26 -0.48 -0.01 -0.59 0.06 -1.37 -0.51 0.05 -0.74 -0.02 -2.08 0.20 0.12 0.00

Vol 2000000 1574000 1383000 1249500 1152000 1058000 484000 466000 462000 456500 395000 381000 379500 224000 212000 204500 194500 161000 132500 109500 107000 89500 87000 73000 72000 60000 50500 46000 31000 27000 13000 10500 2000

MTS LEVERAGE POSITION Symbol AHCL ANL ATRL DGKC ENGRO FFBL FFC HUBC LOTPTA LUCK NBP NML OGDC PAKRI POL PSO PTC SSGC Total

Total Volume 60,500 1,100 95,072 100 94,483 51,000 1,000 20,339 2,206,000 1,000 45,929 4,100 500 33,000 43,000 800 50 90,000 2,747,973

Total Value 1,066,804 7,153 8,707,759 1,774 14,177,507 1,529,813 94,808 562,119 26,379,686 47,993 1,951,923 195,236 51,518 444,668 10,103,835 164,382 632 1,671,075 67,158,682

MTS Rate 18 21 18 18 15 20 15 16 21 16 20 18.78

BOARD MEETINGS

National Bank of Pakistan

KSE 100 INDEX

Technical Outlook Technical Analysis RSI (14-day)

Brokerage House

Leverage Position

40.95

Support 1

11,509.55

MA (5-day)

11,517.24

Support 2

11,467.00

MA (10-day)

11,715.89

Resistance 1

11,615.95

MA (100-day)

11,749.97

Resistance 2

11,679.75

MA (200-day)

10,865.55

Pivot

11,573.35

KSE 100 INDEX closed down -12.12 points at 11,552.13. Volume was 47 per cent below average and Bollinger Bands were 19 per cent wider than normal. As far as resistance level is concern, the market will see major 1st resistance level at 11,615.95 and 2nd resistance level at 11,679.75, while Index will continue to find its 1st support level at 11,509.55 and 2nd support level at 11,467.00. KSE 100 INDEX is currently 6.4 per cent above its 200-day moving average and is displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bearish on INDEX.

Brokerage House

Target Price

Recommendations

85

Hold

Arif Habib Ltd

Sell

Arif Habib Ltd

Neutral

AKD Securities Ltd

45.52

Accumulate

AKD Securities Ltd

Positive

TFD Research

44.25

Positive

TFD Research

Arif Habib Ltd AKD Securities Ltd

75.5

TFD Research

92.3

Brokerage House

Technical Outlook Technical Analysis

Leverage Position

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

23.62 MTS Shares 45,929 71.46 MTS Rs 1,951,923 72.50 MTS Rate 15.00 69.03 ** NOI Rs (mn) 152.36 Free Float Shares (mn)398.12 Free Float Rs (mn) 22,525.76 Target price for Dec-11 & **Net Open Interest in future market

Target Price

Recommendations

37

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

47.60 39.69 37.90 33.00 Free Float Shares (mn)326.94

MTS Shares MTS Rs MTS Rate ** NOI Rs (mn) Free Float Rs (mn)

NBP is currently 18.0 per cent below its 200-day moving average and is dis-

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

playing a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of NBP at a relatively equal pace. Trend fore-

Fauji Fertiliser Co

Leverage Position

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

40.17 MTS Shares 94,483 208.73 MTS Rs 14,177,507 201.17 MTS Rate 18.00 189.75 ** NOI Rs (mn) 216.40 Free Float Shares (mn)176.98 Free Float Rs (mn) 35,489.37 Target price for Dec-11 & **Net Open Interest in future market

and Bollinger Bands were 175 per cent wider than normal.

Brokerage House

Target Price

Nishat Mills Ltd

Recommendations

131.3

Sell

Arif Habib Ltd

120.7

Reduce

AKD Securities Ltd

42.1

Positive

TFD Research

129.4

Neutral

TFD Research

50.3

Positive

Brokerage House

Technical Outlook

Technical Outlook Leverage Position

Technical Analysis

Hub Power Co Ltd

AKD Securities Ltd

53.51 MTS Shares 43,000 317.15 MTS Rs 10,103,835 298.66 MTS Rate 263.04 ** NOI Rs (mn) 365.96 Free Float Shares (mn)107.94 Free Float Rs (mn) 34,516.92 Target price for Dec-11 & **Net Open Interest in future market

Positive

volatility over the last 10 trading sessions. Volume indicators reflect volume to the average volatility over the last 10 trading sessions. Volume indica-

Arif Habib Ltd

Technical Analysis

Neutral

casting oscillators are currently bearish on NBP. Momentum oscillator is flowing into and out of FFBL at a relatively equal pace. Trend forecasting tors reflect moderate flows of volume into ENGRO (mildly bullish). Trend oscillators are currently bearish on FFBL. forecasting oscillators are currently bearish on ENGRO. currently indicating that NBP is currently in an oversold condition.

Neutral

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

Sell

245.4

displaying a downward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely high when compared

Hold

363.65

Recommendations

224 195.41

FFBL is currently 21.3 per cent above its 200-day moving average and is ENGRO is currently 5.7 per cent above its 200-day moving average and is

Recommendations

TFD Research

51,000 1,529,813 15.00 52.05 13,087.35

(consolidating) and Bollinger Bands were 43 per cent wider than normal.

339 322.42

Target Price

Technical Outlook

Leverage Position

Target Price

AKD Securities Ltd

Brokerage House

NBP closed down -1.09 at 56.58. Volume was 34 per cent below average FFBL closed up 0.34 at 40.03. Volume was 55 per cent below average ENGRO closed up 0.71 at 200.53. Volume was 2 per cent below average and Bollinger Bands were 254 per cent wider than normal.

Pakistan Oilfields Ltd

Arif Habib Ltd

Engro Corporation

Fauji Fertiliser Bin Qasim Ltd

Technical Analysis

Leverage Position

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

47.92 MTS Shares 1,000 129.83 MTS Rs 94,808 127.67 MTS Rate 117.16 ** NOI Rs (mn) 48.69 Free Float Shares (mn)466.49 Free Float Rs (mn) 60,372.79 Target price for Dec-11 & **Net Open Interest in future market

Brokerage House

Target Price

Recommendations

50

Buy

AKD Securities Ltd

Accumulate

TFD Research

Technical Analysis

Leverage Position

39.27 MTS Shares 20,339 38.11 MTS Rs 562,119 37.35 MTS Rate 35.71 ** NOI Rs (mn) 4.52 Free Float Shares (mn)810.01 Free Float Rs (mn) 29,921.70 Target price for Dec-11 & **Net Open Interest in future market

Recommendations

71.45

Accumulate

78.6

Positive

Technical Outlook

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

Target Price

Technical Analysis

Leverage Position

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

51.62 MTS Shares 4,100 63.80 MTS Rs 195,236 62.14 MTS Rate 54.58 ** NOI Rs (mn) 58.43 Free Float Shares (mn)175.80 Free Float Rs (mn) 11,267.02 Target price for Dec-11 & **Net Open Interest in future market

POL closed down -2.24 at 319.77. Volume was 6 per cent below average FFC closed down -0.22 at 129.42. Volume was 56 per cent below average HUBC closed up 0.13 at 36.94. Volume was 61 per cent below average NML closed up 0.13 at 64.09. Volume was 83 per cent below average (conand Bollinger Bands were 4 per cent narrower than normal.

(consolidating) and Bollinger Bands were 5 per cent narrower than normal. (consolidating) and Bollinger Bands were 53 per cent wider than normal.

solidating) and Bollinger Bands were 30 per cent narrower than normal.

POL is currently 21.6 per cent above its 200-day moving average and is FFC is currently 10.5 per cent above its 200-day moving average and is HUBC is currently 3.5 per cent above its 200-day moving average and is NML is currently 17.4 per cent above its 200-day moving average and is displaying an upward trend. Volatility is high as compared to the average displaying a downward trend. Volatility is extremely low when compared to displaying a downward trend. Volatility is high as compared to the average displaying an upward trend. Volatility is extremely low when compared to volatility over the last 10 trading sessions. Volume indicators reflect mod- the average volatility over the last 10 trading sessions. Volume indicators volatility over the last 10 trading sessions. Volume indicators reflect mod- the average volatility over the last 10 trading sessions. Volume indicators erate flows of volume into POL (mildly bullish). Trend forecasting oscilla- reflect moderate flows of volume into FFC (mildly bullish). Trend forecast- erate flows of volume into HUBC (mildly bullish). Trend forecasting oscilla- reflect moderate flows of volume into NML (mildly bullish). Trend forecasttors are currently bullish on POL.

ing oscillators are currently bearish on FFC.

tors are currently bearish on HUBC.

ing oscillators are currently bullish on NML.

Company

Date

Time

EFU General Insur Ltd EFU Life Assur Ltd Pak International Airlines First Dawood Invest Bank Ltd Silver Star Insur Comp Ltd Highnoon Lab Ltd Pak Services Ltd Reliance Insur Comp Ltd Faysal Bank Ltd Wyeth Pak Ltd Habib Insur Co Ltd AL Meezan Mutual Fund Ltd Ghani Value Glass Ltd Premier Insur Ltd Unilever Pak Ltd BOC Pak Ltd Fauji Fertiliser Bin Qasim

26-Mar 26-Mar 26-Mar 28-Mar 28-Mar 28-Mar 28-Mar 29-Mar 29-Mar 29-Mar 30-Mar 30-Mar 31-Mar 01-Apr 22-Apr 22-Apr 25-Apr

10:00 11:30 10:00 11:00 4:30 11:00 12:30 11:30 3:00 11:30 12:00 9:30 2:00 11:00 10:00 7:12

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

RSI 1st 2nd (14-day) Support 45.15 2.25 2.00 38.44 58.25 57.55 48.73 51.15 50.70 53.95 23.75 23.60 37.74 19.55 19.05 28.41 68.90 67.75 26.50 12.40 12.30 38.48 8.50 8.35 47.72 351.50 349.50 52.80 119.70 118.75 46.88 9.50 9.40 51.10 3.50 3.40 28.93 6.25 6.15 42.54 1.65 1.60 39.30 23.40 23.20 52.99 2.80 2.75 42.55 2.00 1.90 46.73 35.55 34.80 54.08 59.10 57.10 40.24 199.20 197.90 39.47 12.05 11.90 33.87 4.00 3.95 47.67 39.70 39.35 48.01 128.70 127.95 31.51 105.05 104.55 39.33 36.70 36.45 58.14 160.85 158.90 22.31 208.00 204.75 42.79 3.00 2.85 44.13 1.35 1.30 54.74 2.70 2.50 44.21 8.50 8.40 39.44 40.70 40.55 45.71 2.55 2.50 55.77 15.85 15.70 43.89 64.40 63.90 32.28 195.00 194.30 44.03 2.20 2.15 23.67 55.85 55.15 62.26 27.95 27.40 42.77 21.60 21.50 32.82 2.00 1.95 52.64 2.70 2.65 51.57 63.60 63.15 25.96 136.85 136.15 58.98 3.10 3.00 46.47 1.80 1.75 51.48 2.60 2.45 54.97 6.00 5.80 53.48 317.35 314.95 48.19 204.15 202.80 55.12 62.35 59.60 44.61 274.25 272.80 33.81 16.80 16.75 55.73 207.65 206.75 27.25 18.95 18.60 70.52 17.65 17.35 53.20 24.35 23.80 40.38 1.85 1.80 45.88 2.95 2.90 42.12 59.20 58.80 53.50 2.50 2.45

1st

2nd

Resistance 2.85 3.15 59.90 60.85 52.40 53.20 24.15 24.35 20.70 21.40 71.55 73.05 12.75 13.00 8.90 9.15 356.25 359.00 122.30 123.95 9.80 10.00 3.80 3.95 6.60 6.80 1.75 1.80 23.90 24.20 2.95 3.05 2.10 2.15 36.95 37.60 62.55 64.00 202.55 204.55 12.45 12.65 4.15 4.20 40.30 40.50 130.55 131.65 106.55 107.50 37.10 37.25 165.10 167.45 216.50 221.75 3.25 3.40 1.45 1.50 3.00 3.10 8.70 8.85 40.90 40.95 2.65 2.70 16.15 16.35 65.55 66.20 196.40 197.10 2.35 2.45 57.70 58.85 28.95 29.40 21.90 22.05 2.10 2.15 2.85 2.90 64.55 64.95 138.35 139.15 3.25 3.35 1.95 2.05 3.05 3.35 6.25 6.30 323.85 327.90 207.70 209.90 66.55 68.00 278.00 280.25 16.95 17.05 209.70 210.85 19.80 20.30 18.15 18.30 25.40 25.85 1.95 2.00 3.05 3.10 60.05 60.45 2.70 2.80

Pivot 2.60 59.20 51.95 24.00 20.25 70.40 12.65 8.75 354.25 121.35 9.70 3.70 6.45 1.70 23.70 2.90 2.05 36.20 60.55 201.20 12.25 4.05 39.95 129.80 106.05 36.85 163.15 213.25 3.15 1.40 2.80 8.60 40.75 2.60 16.05 65.05 195.70 2.30 57.00 28.40 21.75 2.05 2.75 64.05 137.65 3.20 1.90 2.90 6.05 321.40 206.35 63.80 276.50 16.90 208.80 19.45 17.80 24.80 1.90 3.00 59.60 2.60


8

Saturday, March 26, 2011

Saif wants to create a Dhoom with Agent Vinod

I

KARACHI: Models pose for photographers wearing the famous designers Sana Safina’s lawn at an exhibition held at Expo Center.-Staff Photo

Abhishek to rerap in DMD S

ix years on from his debut lyrical performance, Bollywood Abhishek Bachchan will take to the microphone once again for the highly anticipated release, Dum Maaro Dum, directed by Rohan Sippy. Having broken records with his 'Right Here Right Now' rap number for Bluffmaster, also directed by Rohan Sippy, Abhishek has performed a special rap song titled 'Thayn Thayn' for the high voltage music soundtrack, created by composer Pritam. Speaking candidly about his musical abilities, Abhishek tweeted "Back in the studio after 6 yrs with chuck masta Sippy. Have no idea why he's

convinced that I can sing!! But Pritam's killing it!!!!" Abhishek Bachchan plays a

f the Yash Raj franchise Dhoom has become one of the sure fire ways of boxoffice successes, then Saif Ali Khan's wish is to model his next film on a similar formula. Saif Ali Khan's home production - Agent Vinod has been in the making for some time now. After re-shooting few portions lately, Saif hopes that given the fact that his film includes bike stunts, fast cars and adrenaline gushing chases, his film too can garner a fan following like Dhoom did. Though there have been numerous reports that Saif and his director Sriram Raghavan screamed and shouted at each other over creative differences in the past, the fact that Agent Vinod is shaping up as per the plan is a relief at last for both of them. And now Saif is so confident of his product that he is thinking of taking over the Dhoom brand as well. Says the actor, "The way we have included stunts and action in our film, I am confident that Agent Vinod will get a response like Dhoom.

Dum Maaro Dum is set in the exotic Indian beach resort of Goa, and tells the story of six characters whose lives change forever when they become embroiled in the shady and perilous underworld. A fast-paced, stylised thriller which races through the by-lanes, beach shacks and party scene of Goa, Dum Maaro Dum is a compelling tale set against the stunning backdrop of one of the world's most famous tourist hotspots. Dum Maaro Dum releases through Twentieth Century Fox o one can flee from geton 22nd April 2011, a film ting attracted with style which will take audiences on a bhai Salman. The latest trip that will have them on the fan of his unique styles is none edge of their seats from the title other than his Dabangg co-star, sequence to the end credits. Sonakshi Sinha. Though bollywood hottie, after

Salman’s the man of masses & classes

merciless cop in the film alongside Bipasha Basu and Prateik, as well as Telegu cinema's star Rana Daggubati in his Bollywood debut.

N

Hrithik, Kat play Holi with tomatoes B

e it Sholay, Silsila, Namak Haraam or Baghban, several films have captured the magic of Holi over the years. Now, the song Ek Junoon in Zindagi Na Milegi Dobara (ZNMD), promises to be one of the most expensive Holi sequences in Bollywood till date. The only difference is that instead of colours, the producers recreated the Tomatina festival, the Spanish version of Holi, which is played with tomatoes and water.

It wasn't easy as the unit wanted to shoot in July while the annual festival is celebrated in the Valencian town of Buñol in August. Also, the tomato crop in Spain wasn't ripe enough in July, last year.

So they imported tonnes of tomatoes from Portugal before

shooting with Hrithik Roshan, Farhan Akhtar, Abhay Deol, Katrina Kaif, Kalki Koechlin and Ariadana Cabrol. Producer Ritesh Sidhwani

says, "Tomatina is important to our movie, which is about a group of friends who are on a road trip around Spain. I thought the Indian audience would relate to tomatoes because in India, people also use eggs and mud to play Holi." Since they couldn't clog Buñol's drainage system, the producers had to pulp the 16 tonnes of tomatoes before shooting. It cost ` 1 crore to get the tomatoes for the shoot. They also shot some wide angles when Tomatina was celebrated in August. Director Zoya Akhtar says, "It was extremely sweet of the people of Buñol to cooperate with us during the shoot. It was great fun as they celebrated twice, once as they always do, and again for India."

Navin Nischol is not anymore N

oted Bollywood actor Navin Nischol passed away here on Saturday after a massive heart attack. The 65-year-old actor was travelling to Pune along with actor-filmmaker Randhir Kapoor in a car this morning, when he suffered a cardiac arrest. Mr. Nischol was immediately taken to a nearby hospital, but was declared dead upon arrival. The funeral took place this evening in the presence of family members and friends from the film industry. The actor's daughter Natasha, mother Kamla and brother Praveen were present. Filmmaker Manmohan Shetty,

director Govind Nihalani and Romesh Sharma too were present, among others.

A product of the Film and

Television Institute of India, Mr. Nischol made a successful debut with 'Sawan Bhadon' in 1970 and went on to star in several films like 'Victoria No

203', 'Dhund', 'Chhalia', 'Parwana', 'Buddha Mil Gaya', and later as a character actor in 'The Burning Train', 'Major Saab', among others. In the early 90s, he made a successful transition to the small screen with the popular sitcom 'Dekh Bhai Dekh' He was last seen in films 'Khosla ka Ghosla' (2006) and Break ke Baad (2010). His wife, Geetanjali, committed suicide in 2006. Several Bollywood personalities mourned the death of the actor. "Very sad to hear of the passing of Mr Navin Nischol...may his soul rest in peace. He will be missed," Abhishek Bachchan said on twitter.

Ajay Best music returns to action after 8 years trophy for Peepli Live A

I

ndian Ocean, the wellknown Indian band, won the Best Music Score trophy at the highly prestigious Asian Film Awards at Hong Kong for its score in Peepli Live, a film directed by Anusha Rizvi and produced by Aamir Khan and Kiran Rao. It was India's official Oscar entry. The film came into limelight after it was selected in the world cinema section of Sundance 2010. Though largely ignored by the celebrity driven domestic awards, the film was nominated in four categories of the most important awards in the Asian region. It was nominated in the best film, the best newcomer (Omkar Das Manikpuri), the best music score (Indian Ocean), and the best editing (Hemanti Sarkar), and it competed with the best of Asian films of last year. A p i c h a t p o n g Weerasethakul's internationally acclaimed fairy tale Uncle Boonmee Who Can Recall His Past Lives got the best film award. An exotic tale of death and reincarnation, the film was the toast of 2010 Cannes Film Festival, and was a hot favorite among international critics. It beat the two Chinese box office blockbusters of last year Aftershock and Let The Bullets Fly in the race. The

South Korean film Poetry, another festival favorite, directed by Lee Chang-dong, won the best director and screenplay awards. It had also won the best screenplay award at Cannes last year. Ha Jung-Woo won the best acting award for his role as a contract killer in The Yellow Sea while Aftershock, a film based on 1976 Tangshan earthquake in China and its aftermath, brought its lead actress Xu Fan the best actress award. The long time producer of globally popular films like Enter The Dragon, Fists Of Fury, Hand Of Death and The Teenage Mutant Ninja Turtles, Raymond Chow was given away the Lifetime Achievement Award this year. The effects of the events in Japan were clearly felt during the ceremony as winners kept their speeches short. The absence of nominees and winners from Japan was acutely felt. The event's hosts and many award recipients expressed sympathy and condolences to the people of Japan and some even made donations to the charities involved in rescue and rehabilitation mission. Tatsumi "Tom" Yoda, the chairman of the Tokyo International Film Festival, was present and he thanked the Asian Film Industry for its support and sympathy.

No marriage sans Band, Baaja, Baarat the super success of Dabangg, has moved on in life and working with best of the lots like Akshay Kumar, Saif Ali Khan, who have a dashing personality and are no less than Salman. Yet Sonakshi can't get over Salman and finds him the most stylish man of the Bollywood. Says the pretty lady, "Salman is the man of the masses and class people follow everything he does, whether it is the bracelet or then the style of wearing sunglasses in Dabangg." Sonakshi, who was a fashion designer before stepping into films, has also styled for her favourite star, Salman Khan. "I've styled Salman. I had styled Salman for one of the photoshoots last year," Sonakshi reveals the secret, which she had kept under wraps for so long.

N

ow, enough of Rani's marriage news. How many times will the media get her married? The actress is not only surprised tying the knot six times so far but also amused by such news. It must be mentioned that much has been written about Rani getting secretly married. The speculated marriage news has always been of great interest for industry insiders and outsiders alike. Rani has stated that marriage is something she can't do without Baand Baaja and Baarat. Rani has no plans to get secretly wed because being a true believer in the institution of marriage the actress wants the customary pomp and show before leaping into this set up.' Rani has also come clean about her equation with the Chopra's. The actress has denied all the

fter working on various genres of cinema and having a super successful box office year, actor Ajay Devgn is back to what he loves doing best action! The actor is currently in Goa, shooting for Reliance Entertainment's Singham directed by Rohit Shetty. It's been a long 8 years since his last action movie, and Ajay is back to it with a completely drool-worthy body and the 'sophisticated khaki' look. He says, 'It's a film about men. Singham will mark the return of hardcore raw action to the cinemas with a lot of dialoguebaazi and machismo. It should sock a punch; it will connect to the man on the street because of its simple narrative and terrific action.' Director Rohit Shetty is also gung-ho about this movie. His jodi with Ajay Devgn has done wonders at the box office earlier with 4 back to back blockbusters, the Golmaal series and All The Best.

Om Puri wants to do Big B

H

e has an impressive body of work, but veteran actor Om Puri wants to play all the roles that Bollywood megastar Amitabh Bachchan has essayed so far. "All the roles that Mr. Bachchan has done, I want to do them. He has fabulous energy. I wish, I had the same. He is

68 now and he still has so much energy and so much spirit. He is an inspiration for all actors," 60-year-old Om told IANS. Om has been in the industry for more than 35 years and has done films in various genres. reports that suggested that she shares a strained equation with the Chopra family. The actress is looking ahead at some exciting scripts after her success run with her last film No One Killed Jessica.

Gul Ahmed Fashion Awards Staff Reporter

T

he First Annual Gul Ahmed Fashion Awards 2011, is the first lawn show of its kind that is designed to break new grounds in the fashion industry of Pakistan. A brand that believes in catering to all segments of the market, Gul Ahmed Fashion Awards 2011 s serve as a platform for the talented young people of Pakistan to showcase their creativity in design.

KARACHI: Sehar Sadiq from Islamabad receiving award for fashion outfit in First Annual Gul Ahmed Fashion Awards 2011.-Staff Photo

The designers serving as judges for the first ever Gul Ahmed Fashion Awards were Kamiar Rokni, Karma and Ayesha Hashwani. Each of the aforementioned designers will be using Gul Ahmed prints for their twenty two piece collection that will add value and exclusivity to their creations. Each designer used different prints to showcase their collection.


9

Saturday, March 26, 2011

Oil near flat but ME, Libya support NEW YORK: Brent oil steadied near $116 in choppy, thin trade on Friday as traders gauged the threat to supply from Middle East unrest and Libya fighting as well as concerns over demand in quake-hit Japan and debt-laden Europe. A huge street protest against President Ali Abdullah Saleh in Yemen, Syrian demonstrations against the government of President Bashar al-Assad and protests in Bahrain and by Saudi Shi'ites kept concerns about the region's unrest in focus. Rebel forces and those loyal to Libyan leader Muammar Gaddafi clashed as Western warplanes struck at armor used by the government to crush the revolt. Investors eyed the threat to oil demand from Japan, where radiation fears escalated after workers suffered burns as they tried to cool a nuclear power station and the government sowed confusion over whether it was widening an evacuation zone.

Tokyo rubber settles lower BANGKOK: Tokyo rubber futures fell on Friday on technical selling as players liquidated contracts after prices failed to break above a key resistance of 440 yen. Tight supply, however, spared more losses, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for August delivery fell 6.8 yen to settle at 429.6 yen ($5.30) per kg. The most active Shanghai rubber contract for May delivery fell 175 yuan to settle at 36,450 yuan ($5,558) per kg. TOCOM rubber were expected to rebound next week as players sought to test the resistance of 430 yen again. Tight supply in producing countries should provide support, dealers said. Physical supplies remain tight after farmers in Thailand and Malaysia halted tapping. Trees stop producing latex in the dry season, which ends in late April. -Reuters

Brent crude futures for May delivery were little changed, down 2 cents at $115.70 a barrel by 1554 GMT, having seesawed between $115.33 and $116.13. US May crude futures rose 6 cents to $105.66 a barrel, swinging between $104.50 and $105.90. Brent and US crude have stalled ahead of 2011 peaks. The May Brent may run into

resistance ahead of its contract peak of $118.42, before approaching the 2011 frontmonth intraday high of $119.79 struck on Feb. 24. US crude has been unable to move above its 2011 high of $106.95 struck on March 7. The spread between Brent and the US benchmark West Texas Intermediate crude, down 31 cents at $10.05 a barrel, was choppy on Friday, swinging

European vegetable oil prices

from $9.83 to $11.24, but remaining well off its March 1 record above $17. "Middle East concerns are still in the forefront but the fundamental supply situation is not bullish," said Jacob Correll, commodity analyst at Summit Energy Services Inc in Louisville, Kentucky. "We are looking at many variables and it's tough to pinpoint at any given time which are the most important ones to consider." With an expected summer demand boost and supply uncertainty, JP Morgan analysts headed by Lawrence Eagles raised oil price forecasts for 2011 for Brent and US crude. "So long as ongoing problems in the Middle East continue to elevate risks of a further supply disruption, there is a strong likelihood of a price spike in the second quarter as the market demands additional oil to meet summer demand," JP Morgan said in a research note. -Reuters

Palm oil declines on slower demand KUALA LUMPUR: Malaysian palm oil futures fell 0.3 per cent on Friday as traders took positions on expectations of higher output and lacklustre demand in March. Palm oil lost 5.4 per cent this week as prices were pressured by talk of double digit output growth in March early in the week. Some millers suggested palm oil output in Malaysia's southern Johor state - that makes up 30 per cent of total national monthly output - may have jumped 24 per cent in the first 20 days of March, as oil palms also move into a higher production cycle. The higher output expectations come as exports from Malaysia, the world's second largest producer, continue to lag. Benchmark June crude palm oil contract on the Bursa Malaysia Derivatives fell 0.3

per cent to 3,261 ringgit ($1,076.948) per tonne after it went through a technical correction the previous session. Overall traded volume stood at 31,114 lots of 25 tonnes each, more than doubled from the usual 15,000 lots. Cargo surveyor Intertek Testing Services on Friday said exports of palm oil for March 1-25 fell 3.7 per cent to 937,591 tonnes. Another cargo surveyor Societe Generale de Surveillance showed palm oil exports during the same period fell 0.3 per cent. Chicago soyoil for May delivery rose 0.2 per cent in Asian hours, while the most active Sept. soyoil contract on China's Dalian Commodity Exchange rose 0.6 per cent. Oil prices will stay above $100 a barrel through 2013, a Reuters poll showed, as analysts sharply revised forecasts up because of political tensions in the Middle East. -Reuters

Copper dips, investors eye EU debt crisis LONDON: Copper dipped on Friday as concerns over sovereign debt in Europe and the nuclear crisis in Japan undermined sentiment, but expectations of a supply deficit this year lent support. Three-month copper on the London Metal Exchange closed at $9,685 a tonne, down from $9,727 at the close on Thursday. Still, copper has risen around 9 per cent since hitting last week's nearly three-month low of $8,944.50 following the March 11 earthquake and tsunami in Japan. "One of the key concerns is the ongoing sovereign debt crisis in Europe. We have already seen some downgrades, and there is speculation that Portugal is going to ask for a bailout," said Credit Agricole analyst Robin Bhar. Standard & Poor's downgraded Portugal's credit rating by two notches to BBB on Friday and warned it could be cut again by one notch as early as next week, depending on the final shape of the euro-zone bailout fund. "The events in North Africa, the Middle East and Japan cause concern as well. But the fundamentals are still broadly

supportive," Bhar added, underlining that a strong copper supply deficit is expected this year. Global No. 1 copper producer Chile's Codelco said on

Shanghai copper ends flat Copper prices fell 0.2 per cent in London on Friday and Shanghai ended flat with both markets on track for modest weekly gains, having recovered from the blow to nearterm sentiment caused by Japan's earthquake. Shanghai's most-active copper futures contract, June, fell 50 yuan to 72,360 yuan a tonn. Friday its 2010 output dipped but should be steady this year, and expects strong Chinese demand, Japan's recovery after a natural disaster, as well as new uses to stoke demand. Aluminium reached a 2-1/2 year high at $2,654.50, before trimming gains to close at $2,641. On Friday, data showed alu-

minium headline inventories fell 5,925 tonnes to 4,602,950 tonnes, but remain still less than a per cent from record highs. Analysts say there are around another 4 million tonnes being held off the LME. The world's top aluminium producer, Russia's UC RUSAL, believes that prices of the metal may reach $3,000 per tonne by the end of this year due to Japan and events in north Africa. Inventories of copper rose 4,650 tonnes to 439,275 tonnes, hitting their highest since July 5, the latest data showed. Rising inventories coupled with weakening premiums for spot copper raised some concerns over waning demand from top consumer China. Tin, untraded at the close, was last bid at $31,750 from $30,925, while zinc, used in galvanizing, closed at $2,378 from $2,424 Thursday's close. Battery material lead was $2,670 from $2,716, and nickel was $27,050 from $26,825. -Reuters

LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for March 24 2011 POLYPROPYLENE(PP)

LINEAR LOW (LL)

Cash & Settlement

1310

1255

December (3rd Wednesday)

1310

1260

January (3rd Wednesday)

1310

1260

LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for March 24 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY

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

2382 2400 2372 2390 2370 2380 2370 2380

2595.5 2596 2629.5 2630 2703 2708 2763 2768

9695 9695.5 9710 9711 9665 9675 9375 9385

2729 2730 2698 2700 2625 2630 2573 2578

27140 27145 27135 27140 26330 26430 25365 25465

TIN

ZINC NASAAC

31600 2394 31625 2394.5 31595 2414.5 31600 2415 31475 2470 31525 2475 2483 2488

2565 2566 2585 2595 2645 2655 2700 2710

ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Mar11 900.00+7.00, Apr11 904.00+11.00, May11/Jul11 907.00+8.00, Aug11/Oct11 912.00+8.00, Nov11/Jan12 917.00+8.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 995.00+10.00, Aug11/Oct11 945.00+10.00, Nov11/Jan12 950.00+10.00, Feb12/Apr12 957.00+12.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1355.00+5.00, Jul11/Sep11 1365.00+10.00, Oct11/Dec11 1335.00+15.00. LINOIL: Any origin dlrs tonne extank Rotterdam Apr11/May11 1500.00-12.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Afloat 1135.00, Mar11 1135.00+5.00, Apr11 1135.00+5.00, May11/Jun11 1135.00+5.00, Jul11/Sep11 1130.00+5.00, Oct11/Dec11 1120.00+5.00. PALMOIL: RBD dlrs tonne cif Rotterdam May11/Jun11 1195.00, Jul11/Sep11 1170.00. PALMOIL: RBD dlrs tonne fob Malaysia May11/Jun11 1140.00, Jul11/Sep11 1115.00+5.00. PALM OLEIN: RBD dlrs tonne fob Malaysia May11/Jun11 1150.00, Jul11/Sep11 1125.00+5.00, Oct11/Dec11 1115.00+2.50. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Mar11/Apr11 1950.00+0.00, Apr11/May11 1900.00+30.00. CASTOROIL: Any origin dlrs tonne extank Rotterdam May11/Jun11 2695.00+0.00. Reuters

India sugar prices fall MUMBAI: India spot sugar prices eased on Friday on low demand from consumers, though tight supply by mills anticipating higher April non-levy quota arrested the fall, dealers and traders said. "After government's nod for exports, mills are holding stocks and are now waiting for April quota," said Mukesh Kuwadia, secretary, Bombay Sugar Merchants Association. Heeding the demand of millers and traders, India on Tuesday announced it would allow 500,000 tonnes of unrestricted sugar export. . In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety fell by 9 rupees to 2,694 rupees ($60.31) per 100 kg. Sugar contract for April delivery on India's National Commodity and Derivatives Exchange (NCDEX) closed down by 0.14 per cent at 2,773 rupees per 100 kg. Traders and industry bodies have been seeking unrestricted exports of the sweetener to cash in on high global prices and pass on the benefit to cane growers as local prices have fallen about a third in one year amid improved supply prospects. In December last year, the farm minister had said mills could export 500,000 tonnes of sugar under open general licence. -Reuters

SULAWESI, Indonesia: Farmers inspect their cocoa plantation in Makassar, South Sulawesi. -Reuters

Gold firms as eurozone debt concerns simmer LONDON: Gold rose on Friday as deepening concerns over euro-zone sovereign debt levels after a fresh downgrade of Portugal's credit rating and simmering violence in the Middle East underlined its safe-haven appeal. Spot gold was bid at $1,434.20 an ounce at 1535 GMT, against $1,429.49 late in New York on Thursday. US gold futures for April delivery eased 50 cents to

uncertain and the payments into the projected capital stock for the future bailout mechanism have been changed again," Commerzbank said in a note. Violence in the Middle East and North Africa also supported demand for gold as a haven from risk. For the moment, the metal remains constrained by chart pressures, with strong resistance seen near Thursday's record

$1,434.40. The precious metal is struggling to overcome strong resistance near the previous session's record high of $1,447.40 but remains firmly supported at current levels, analysts said. Worries about the financial health of heavily indebted Portugal were stoked by a twonotch downgrade of the country's credit ratings by Standard & Poor's, a day after Prime Minister Jose Socrates resigned. European leaders agreed at a summit in Brussels on Thursday to increase their financial rescue fund to 440 billion euros ($623 billion) by June but avoided discussing Portugal, which is under pressure to seek a bailout after Socrates' resignation. "The EU summit in Brussels has once again revealed the lack of unity of state and government heads: the financing of the current EU rescue fund remains

high. "(Gold) managed to make fresh highs, but that lack of follow-through was a bit of a disappointment," said ScotiaMocatta in a note. "The metal traded up as high as 1,447 to set a fresh record ... (but) we think the move was a bit forced." Despite gold's recent strong performance, inflows into exchange-traded funds backed by the precious metal remained lacklustre, with holdings of the largest, New York's SPDR Gold Trust, down by another 0.9 tonnes on Thursday. Silver was at $37.43 an ounce versus $37.12, having retreated from the previous session's 31year high at $38.13 an ounce. Holdings of the largest silver ETF, the iShares Silver Trust, leapt to a record 11,140 tonnes on Thursday. Platinum was at $1,745.60 an ounce against $1,749, while palladium was at $750 against $748.97. -Reuters

Coffee up; Cocoa climbs on supply outlook LONDON: Coffee prices rose on Friday with the robusta market focused on the widening premium for May over July, reflecting concern about how much coffee will be available for delivery. Sugar prices also advanced as the market eyed the impact of rains on crop prospects in top producer Brazil while cocoa futures climbed on a tightening supply outlook driven by the ongoing conflict in Ivory Coast. May robusta's premium to July rose to around $180 a tonne at one stage before easing back slightly to $165, still up from around $120-140 on Thursday although it remained shy of its peak late last week of more than $200. May robustas rose 1.3 per cent to $2,602 a tonne by 1516 GMT while May arabicas on ICE climbed 2.7 cents or 1.0 per cent at $2.6850 per lb. Arabica prices have been boosted by tight supplies of high quality beans. Sugar prices were higher as the market eyed the crop outlook in top grower Brazil. May raws on ICE rose 0.43 cent or 1.6 per cent to 27.88 cents a lb while May whites on Liffe stood $5.20 higher at $711.30 a tonne. Cocoa futures also advanced as the market awaited kept a close watch on the conflict in top grower Ivory Coast. May cocoa on ICE rose $51 or 1.6 per cent to $3,254 a tonne while July cocoa on Liffe climbed 29 pounds to 2,103 pounds a tonne. -Reuters

US cotton ends higher as drought grips Texas NEW YORK: US cotton futures settled higher Thursday on investor buying and as Texas, the top growing state in the country, suffers a drought said to be its worst in more than 40 years, analysts said. The key May cotton contract on ICE Futures US climbed 6.95 cents to end at $2.0882 per lb, dealing from $1.9687 to the 7-cents limit up at $2.0887. Volume traded stood at around 25,800 lots, almost 15 per cent below the 30-day norm, Thomson Reuters pre-

liminary data showed. Open interest in the market, an indicator of investment exposure in cotton, was at 176,212 lots as of March 23, a level that is close to an 8month low, data from ICE Futures US showed. The National Weather Service said in a statement that the drought in Texas is 'expanding' while rainfall deficits grow. On March 31, the US Agriculture Department will release its annual potential plantings report for crops such

as cotton, corn, soybeans and wheat among others. The USDA report is the first government survey of likely plantings for major row crops in 2011. Despite the rally in cotton to record highs, the fiber has to compete for acreage against similarly high-priced grains this year. Analytical firm Informa Economics projected on Friday US farmers will plant 13.13 million acres to cotton, a level that would be the highest in five years. -Reuters

National Commodity Exchange Ltd Trading Summary Date

Commodity

25-Mar-2011 CRUDE100 25-Mar-2011 CRUDE100 25-Mar-2011 CRUDE100 25-Mar-2011 SILVER - SL500 25-Mar-2011 SILVER - SL500 25-Mar-2011 GOLD 01oz 25-Mar-2011 GOLD 01oz 25-Mar-2011 GOLD 01oz 25-Mar-2011 GOLD 100oz 25-Mar-2011 GOLD 100oz 25-Mar-2011 GOLD 100oz 25-Mar-2011 GOLD 25-Mar-2011 GOLD 25-Mar-2011 GOLD 25-Mar-2011 KILOGOLD 25-Mar-2011 KILOGOLD 25-Mar-2011 TOLAGOLD50 25-Mar-2011 TOLAGOLD100 25-Mar-2011 MINIGOLD 25-Mar-2011 MINIGOLD 25-Mar-2011 MINIGOLD 25-Mar-2011 MINIGOLD 25-Mar-2011 MINIGOLD 25-Mar-2011 TOLAGOLD 25-Mar-2011 TOLAGOLD 25-Mar-2011 TOLAGOLD 25-Mar-2011 TOLAGOLD 25-Mar-2011 TOLAGOLD 25-Mar-2011 IRRI6W 25-Mar-2011 RICEIRRI - 6 25-Mar-2011 RBD PALMOLEIN 25-Mar-2011 KIBOR3M 25-Mar-2011 KIBOR3M

Contract Date

Price Quotation

Open

High

Low

Close

MY11 JU11 JY11 MY11 JY11 AP11 MY11 JU11 AP11 MY11 JU11 AP11 MY11 JU11 AP11 MY11 AP11 AP11 MON TUE WED THU FRI MON TUE WED THU FRI 31MA11 AP11 AP11 11-Mar 11-Jun

US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100

105.23 106.00 107.13 37.28 37.30 1437.20 1438.00 1440.00 1438.60 1439.80 1442.00 39517.00 39549.00 39600.00 39546.00 39556.00 46126.00 46126.00 38000.00 40678.00 40693.00 40708.00 40617.00 47495.00 47690.00 47467.00 47469.00 46713.00 3325.00 3352.00 5202.00 86.47 86.02

106.66 107.04 107.13 38.16 37.83 1447.90 1448.40 1449.00 1448.00 1440.90 1449.00 39700.00 39774.00 39600.00 39546.00 39556.00 46126.00 46126.00 40632.00 40678.00 40693.00 40708.00 40617.00 47675.00 47690.00 47590.00 47691.00 46713.00 3332.00 3352.00 5202.00 86.49 86.03

104.84 105.40 106.52 36.89 36.90 1425.50 1424.50 1425.80 1431.00 1431.00 1430.00 39221.00 39434.00 39501.00 39448.00 39457.00 46011.00 46011.00 38000.00 40563.00 40578.00 40593.00 40608.00 46597.00 46649.00 46667.00 46684.00 46702.00 3325.00 3351.00 5200.00 86.47 86.02

105.61 106.11 106.52 37.78 37.80 1437.50 1438.10 1438.90 1437.50 1438.10 1438.10 39475.00 39485.00 39501.00 39448.00 39457.00 46011.00 46011.00 40517.00 40563.00 40578.00 40593.00 40608.00 46597.00 46649.00 46667.00 46684.00 46702.00 3332.00 3351.00 5200.00 86.49 86.03

Traded Volume in lots 480 47 833 39 826 4,012 3,173 31 6 38 94 3 2 12 1 2 41 -

Previous Settlement Price 105.39 105.89 106.32 37.17 37.18 1430.30 1431.00 1431.80 1430.30 1431.00 1431.80 39315.00 39325.00 39341.00 39288.00 39297.00 45824.00 45824.00 40356.00 40401.00 40416.00 40431.00 40446.00 46408.00 46460.00 46477.00 46494.00 46512.00 3325.00 3352.00 5202.00 86.47 86.02

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 105.61 103 106.11 6 106.52 37.78 73 37.80 3 1437.50 298 1438.10 1,916 1438.90 1,074 1437.50 4 1438.10 2 1438.90 3 39475.00 102 39485.00 3 39501.00 39448.00 39457.00 46011.00 46011.00 40517.00 2 40563.00 40578.00 40593.00 40608.00 46597.00 14 46649.00 24 46667.00 2 46684.00 30 46702.00 3332.00 3351.00 5200.00 86.49 86.03 -


Caroline Wozniacki of Denmark hits a backhand return against Bethanie Mattek-Sands during the Sony Ericsson Open at Crandon Park Tennis Center

Pressure on Eng, Lanka: Sangakkara COLOMBO: Kumar Sangakkara refuses to believe Sri Lanka will be the only side under pressure before a packed home crowd in their quarter-final on Saturday, saying England will also feel the intensity. The 1996 winners go into the last of four quarter-finals with huge expectations, but Sangakkara was confident his players were capable of handling the situation. "What you lose is a semifinal berth, so I don't think any side is going to want to lose that. So wherever you play that incentive is going to be there and all sides feel that pressure equally," said Sangakkara. "I think it will be there (pressure), but that kind of thinking goes out of the window when you cross the boundary rope. I am sure players will feel the crowd, they'll lift themselves and do well." Sri Lanka, runners-up to Australia in the 2007 World Cup held in the West Indies, lost to Pakistan and had their game against Australia washed out on their way to the last eight stages. And Sangakkara felt his players were ready to give their best against England who have endured a roller-coaster tournament, losing to Ireland and Bangladesh but beating South Africa and the West Indies. They also tied their first match against India. "It's a do-or-die so my guys are pretty much focussed, very well tuned into what's happening and they'll look to do everything they can to win," said Sangakkara. The winners of Saturday's match will meet either South Africa or New Zealand -- playing their quarter-final in Dhaka on Friday -- in the semi-finals in Colombo on March 29. "I think England are one of the best sides in this tournament," said Sangakkara of England, the current World Twenty20 champions but who have never won a 50-over World Cup. "They have won close games so we know how tough they can be. We are expecting nothing less than the best from them," said Sangakkara of England who have beaten Sri Lanka in six of previous eight World Cup matches. Off-spinner Muttiah Muralitharan has recovered from a hamstring injury sustained during the group match win over New Zealand last week and will play on Saturday.-Retuers

10

Saturday, March 26, 2011

Sania stands by India MOHALI: Tennis star Sania Mirza, spouse of former Pakistani cricket team captain Shoaib Malik, has said she will support India in the semi-finals of the cricket World Cup. Sania tweeted on the social networking website "Twitter" that the 'battle' continues. Last time when Pakistan and India met in Mohali, she went there to watch that match. Sania said that she would support India in the semifinals of cricket WC on

Wednesday. Talking about her fitness in Tennis, she said, "I am happy to be squeezed in the top 100 again but now I don't give too much importance to the rankings. Winning and losing is part of the game." She said no one could have imagined that Roger Federer would lose two matches in a single day, first in singles and then in doubles. That's why she just focuses on showing good performance. -Online

Raina may end India’s concerns AHMEDABAD: India India would be fairly justified in believing that in Suresh Raina, they have finally found the missing piece of the middle order puzzle that vexed them in the group stage of the World Cup. Raina's activity was confined to the nets and carrying drinks before he was finally drafted in for India's last Group B match against West Indies, thanks to the policy of giving each player at least one game before the knockout stage. Raina did not help his cause with just four runs in that match but scores of eight, 14, 30 not out, 11, 0 and 11 suggest Yusuf Pathan, the man preferred to him, had not set alight the tournament either. So India captain Mahendra Singh Dhoni chose Raina over Pathan in Thursday's quarterfinal against Australia and the left-hander did not let him down by hitting 34 not out. Raina's unbeaten 74-run partnership with Yuvraj Singh (57), the highest stand in the match, under tremendous pressure made all the difference in the see-saw quarter-final and the 24-year-old could be the answer to India's middle order woes. "He had a few bad games but he came into the side and

showed his (strong) nerve in a very crucial game," Yuvraj told reporters of his partner-in-victory. "I think it will give a lot of confidence to him and would be a very good thing for India if he can contribute like this." The Indian middle order looked particularly brittle in the group stage match against England where they slumped from 305-3 to 338 all out. Against South Africa too, they were cruising merrily at 267-1 before losing the remaining nine wickets for just 29 runs. Raina's is a more versatile game than Pathan's one-dimensional slogging and the kind of maturity he showed against Australia should make him a certainty for Wednesday's semifinal against Pakistan. Overall, India beat Australia with an all-round show that should assure millions of fans but the team clearly have a couple of issues to address. Horrendous running between the wickets nearly derailed India's chase against Australia when Gautam Gambhir ran himself out after two narrow escapes, while Mahendra Singh Dhoni also featured in an almighty mix-up with Yuvraj.Agencies

KCCA organises 17th Hinopak cricket trophy KARACHI: Hinopak Cricket Trophy, which was introduced in 1989, has been successfully organized every season and has come to be regarded as one of the most prestigious departmental competitions on the city circuit. The Prize distribution ceremony of 17th Hinopak Interdepartmental Cricket Trophy being organized by Karachi City Cricket Association (KCCA) and sponsored by Hinopak Motors Limited was held at Karachi Club Annexe on March 14, 2011. Mr. Hideya Iijima, Managing Director & CEO, Hinopak was the Chief Guest of the ceremony. While addressing with the audience, Mr. Iijima said that the motto behind sponsoring this tournament for last 23 consecutive years is to make a humble contribution for the betterment of the society. He assured that Hinopak would continue its commitment as a responsible corporate citizen and will always promote the sports activities to encourage the young players of the country. He also announced that 18th Hinopak Trophy will be start from September 2011. Mr. Siraj-ul-Islam Bukhari, President Karachi City Cricket Association, in his address appreciated the continuous support of Hinopak to sponsor the trophy since last 22 years. He also

thanked Hinopak Top Management for taking keen interest in sports activities and providing opportunities for the talent of the country to shine through by sponsoring tournaments like these. Mr. Takeshi Ito, Deputy Managing Director Hinopak, in his address, remarked that he feel proud by attending yet another event of sports which is sponsored by Hinopak Motors Limited. He also assures that Hinopak would continue its commitment as a responsible corporate citizen and will always promote the sports activities. Mr Naushad Riaz, Chairman Hinopak Sports & Recreation Club, speaking at the ceremony, remarked that Hinopak since its inception always been in the fore front to promote sports activities and encouraging its employees to participate in sports and become a part of the healthier society. At last, Mr. Iijima distributed the prizes to the winning teams, players of the tournament & other officials. Pakistan Navy winner of the tournament received a winning trophy & Cash prize of Rs. 35000 (thirty five thousand). The runner up "Medicam Group" received a runner up trophy & Cash prize of Rs. 20000/- (Twenty Thousand).

DHAKA: New Zealand's Ross Taylor (R) watches his shot during their Cricket World Cup quarter-final match against South Africa.-Reuters

Yuvraj's ‘special person’ stirs media AHMEDABAD: India's swashbuckling all-rounder Yuvraj Singh whipped up a media frenzy on Friday by refusing to identify the 'special person' who is the driving force behind his World Cup success. The left-hander, 29, conjured up a magical performance in the quarter-final win against Australia on Thursday, grabbing two wickets and making an unbeaten 57 to shape India's five-wicket victory over the champions. The victory sets up a semifinal with arch-rivals Pakistan in Mohali on March 30. Yuvraj, named man of the match for the fourth time in the tournament, then revealed during the post-match press conference that there was someone special in his life behind his recent success. "I am playing this tournament for a special person. That special person always comes into my mind whenever I am in a pressure situation." Yuvraj promised to reveal the identity if India made it to the April 2 final in Mumbai. "Hopefully it will work out in the end," he quipped. Yuvraj's half-disclosure was lapped up by hungry Indian news channels, one of which promptly started a programme urging viewers to send in their opinion on who they thought was the mysterious person in the cricketer's life. The Punjab player, who has 341 runs and 11 wickets in the tournament so far, joked it was the first time he had been applauded at a press conference. After recent struggles with form and fitness, he was asked if everything he was touching was now turning to gold. "I think so. Last year, whatever I was doing was turning into mud," he said. Yuvraj admitted his success against the defending champions was the stuff of dreams.Reuters

It’s a showdown to remember when Pakistan meet India NEW DELHI: The clash between India and Pakistan in the World Cup semi-finals will showcase one of the world's most intense sporting rivalries fuelled by nationalism, bloodshed and a shared history. The two countries have had a fraught relationship since Pakistan was carved out of India to establish a Muslim homeland when British rule of the sub-continent ended in 1947. They have fought two wars over the disputed region of Kashmir, another over the creation of Bangladesh, and they last came to the brink of warfare as recently as 2002. On the cricket field, a knockout World Cup match on Indian soil is the biggest fixture between the two rivals for decades, and the excitement across the region is already sky-high ahead of Wednesday's clash in Mohali. After Thursday's victory over defending champions Australia, India captain Mahendra Singh Dhoni said Pakistan were the ultimate

opponents. "India v Pakistan in the semifinals -- it doesn't get better," he said. "A World Cup hosted by the sub-continental nations and India and Pakistan making it to the semis." Pakistan coach Waqar Younis said that "there is no bigger rivalry in the game", while captain Shahid Afridi even expressed hope that a PakistanIndia match "could improve relations". The two countries had broken off cricket ties except for a couple of volatile Test matches in India -- for 15 years before India's historic tour of Pakistan in 2004. Fierce competitiveness, even hatred, is evident whenever India and Pakistan play, but recent games have also been marked by a sense of cross-border comradeship. The conflicting emotions reflect the complex state of relations, which are often compared to those within an estranged family. Pakistani flags have occa-

sionally been raised in the Muslim slums of Hindu-majority India during games causing predictable outrage. More strikingly though, the matches in 2004 when the India side returned to Pakistan prompted an outburst of affection. Thousands of Indians were granted special visas to attend the fixtures, and many said that they had been greeted like long-lost brothers as taxi-drivers gave them free lifts and hotels refused to charge them for rooms. The contrast between political and sporting links was again on display at the Commonwealth Games in New Delhi last year, when many outsiders were surprised to hear the Pakistan team given a huge cheer at the opening ceremony. Few Pakistanis are expected to make it to the stadium in Mohali, but many millions of fans in both countries will follow the game avidly on the television..-Agencies

KARACHI: Chief Guest Hideya Iijima, Managing Director & CEO Hinopak, presenting the prizes & trophies during the prize distribution ceremony of 17th Hinopak Trophy KCCA Interdepartmental Cricket Tournament. Also seen in the picture, Takeshi Ito (Deputy Managing Director Hinopak), Naushad Riaz (Chairman Sports Club Hinopak), Sirajul Islam Bukhari (President KCCA), Ejaz Ahmed Faruqi (Secretary KCCA), Touseef Siddiqui, Mehtab Ahmed and winning team captain of Pakistan Navy.


US fourth-quarter growth stronger, profits rise

Euro zone private sector lending picks up speed

n Consumer sentiment lowest in more than a year WASHINGTON: The U.S. economy grew more quickly than previously estimated in the fourth quarter as businesses restocked shelves to meet rising demand and maintained fairly solid spending. Other data released on Friday showed consumer sentiment fell to its lowest level in more than a year in March, weighed down by high food and gasoline prices. Gross domestic product growth in the final quarter of 2010 was revised up to an annualized rate of 3.1 percent, the Commerce Department said in its final estimate. That was close to its initial estimate of 3.2 percent published two months ago and up from its 2.8 percent reading in February. "It is nice to see confirmation that the economy was improving. The data we've seen so far for the first quarter confirms that that strength is continuing," said Elizabeth Miller, president of Summit Place Financial Advisors in Summit, New Jersey. The department also said corporate profits increased 3.3 percent in the fourth quarter after rising 0.2 percent in the prior quarter. In another report, the Thomson Reuters/University of Michigan index on consumer sentiment fell to 67.5 this month, the lowest since November 2009, from 77.5 in February. For details see U.S. financial markets were little moved by the report. Economists had expected GDP growth, which measures total goods and services output within U.S. borders, to be revised up to a 3.0 percent pace. The economy expanded at a 2.6 percent rate in the third quarter. For all of 2010, the economy grew 2.9 percent, while corpo-

rate profits grew 20.4 percent, the most since 2004. Data so far this year suggests the economy maintained this growth pace in the first quarter, but there are concerns that rising oil prices could crimp consumer spending and slow the recovery. The growth pace is still not strong enough to reduce high unemployment significantly. RISKS LURKING The pick-up in growth has been acknowledged by the Federal Reserve, which injected massive amounts of money into the economy to stimulate demand. The U.S. central bank is expected to conclude its $600 billion government bond-buying program at the end of June. Atlanta Fed President Dennis Lockhart said on Friday the recovery is on solid ground, but there are still enough sources of weakness to justify keeping interest rates very low. For details see In the GDP report, the department raised fourth-quarter growth estimates to reflect stronger business spending and inventory accumulation than previously forecast. Business investment rose at a 7.7 percent rate instead of 5.3 percent, lifted by spending on equipment and software, as well as on structures. Spending grew at a 10.0 percent pace in the third quarter. Business spending on software and equipment increased at a 7.7 percent rate instead of 5.5 percent. Investment in structures rose at a solid 7.6 percent rate, the first increase since the second quarter of 2008. Business inventories increased $16.2 billion instead of the $7.1 billion estimated last month.

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The rise in inventories still marked a sharp slowdown from the third quarter's $121.4 billion and it subtracted a smaller 3.42 percentage points from GDP growth rather than the previously reported 3.70 percentage points drag. Excluding inventories, the economy expanded at an unrevised 6.7 percent pace, the fastest increase in domestic and foreign demand since 1998. Domestic purchases grew at a 3.2 percent rate instead of 3.1 percent. Consumer spending -- which accounts for more than twothirds of U.S. economic activity -- grew at a 4.0 percent rate in the final three months of 2010 instead of 4.1 percent. It was still the fastest since the last three months of 2006 and was an acceleration from the third quarter's 2.4 percent rate. The growth in exports was not as strong as previously estimated, while imports were revised down a touch. Trade added 3.27 percentage points to GDP growth instead of 3.35 percentage points. Government spending contracted at a 1.7 percent rate rather than 1.5 percent, due to weak state and local government outlays. The GDP report confirmed a pick-up in inflation pressures on surging food and gasoline prices. The personal consumption expenditures (PCE) index rose at a revised 1.7 percent rate in the fourth quarter instead of 1.8 percent. That compared with the third quarter's 0.8 percent increase. But a "core" price index closely watched by the Fed advanced at a revised 0.4 percent rate instead of 0.5 percent. The increase was the smallest rise on record. -Reuters

FRANKFURT: Lending to consumers and companies in the euro zone picked up speed in February, adding to the case for the European Central Bank to raise interest rates next month. Loans to the private sector rose at an annual rate of 2.6 percent, up from 2.4 percent in January, ECB money supply data showed on Friday. The figures also showed company loans rose 16 billion euros in the month, following an 18 billion euro rise in January, leaving them 0.6 percent stronger than the same time a year ago. While analysts cautioned lending is still broadly weak, especially in euro zone states struggling with banking and debt problems, the numbers will probably provide more ammunition for those on the ECB's council pushing for a rise in rates in April. "This is clear evidence that credit cycle has turned and it will be positive for the (monetary policy) hawks at the ECB," said ING economist Carsten Brzeski. "Again, this is another signal for the ECB to hike rates in April and probably not stop there." Data for lending to home buyers, seen by economists as a potential leading indicator of lending trends, showed mortgage lending increased by 3.8 percent on the year and overall lending to households rose by 3.0 percent. The ECB has kept rates at a record low of 1.0 percent for almost two years as the financial and debt crises have unfolded, but it took financial markets by surprise earlier this month by flagging the possibility of a hike in April. This month's disaster in Japan, Middle East tensions, and most recently signs Portugal's government will fall, potentially forcing the country into a European bailout, have created some uncertainty on markets about an ECB hike, but policymakers appear committed to a rise. -Reuters

EU delays decision on anti-crisis package details n Portugal PM's resignation overshadow EU summit BRUSSELS: European leaders agreed a new package of anti-crisis measures at a two-day summit, but were forced to delay increasing their rescue fund and acknowledged they faced new threats from a government collapse in Portugal. Battling to stem a debt crisis that has raged for over a year and pushed both Greece and Ireland to accept bailouts, the EU had promised to unveil a comprehensive solution at the March 24-25 summit that it hoped would reassure jittery markets. But the abrupt resignation of Portuguese Prime Minister Jose Socrates on the eve of the meeting, after his austerity measures were rejected by parliament, cast a long shadow. Uncertainty in other euro members such as Finland and Ireland also prevented leaders finalising fundamental elements of their plan. "The euro has survived a critical test but there is lots of homework to be done," German Chancellor Angela Merkel told reporters, saying the bloc needed to "atone for past sins". "This is a comprehensive package which I think is a big step

forward. Whether it will be sufficient, only time will tell." Yields on Portugal's 10-year benchmark bonds pushed above 8 percent to a new record on Friday, a rate seen as unsustainable for a country which needs to refinance about 4.5 billion euros of debt in April and a similar amount in June. Leaders were able to seal a deal on funding for the European Stability Mechanism (ESM) a new, permanent safety net that will become operational from mid-2013. Merkel backtracked before the summit on a deal that would have forced Germany, Europe's biggest economy and paymaster, to put up 11 billion euros for the fund in its first year, reducing her wiggle room for tax cuts before the next election. Under the compromise, capital injections totalling 80 billion euros for all euro zone members will be spread out over five years rather than three, with smaller instalments. Euro zone leaders also formally backed the "Euro Plus Pact", a list of areas for expanded economic policy harmonisation which has been renamed three times because of

sensitivities in various individual member states. Six EU states that do not use the single currency -Bulgaria, Denmark, Latvia, Lithuania, Poland and Romania - joined the 17 euro states in backing the pact, in part out of worries they could be excluded from future policy talks. Britain, Sweden, Czech Republic and Hungary remain out. In other areas the summit fell short of expectations. Although leaders had agreed in principle earlier this month to boost the lending capacity of their temporary safety net the European Financial Stability Facility (EFSF) to 440 billion euros from roughly 250 billion, they had to push this back until mid-year because of looming elections in Finland. A deal on debt relief for Ireland has also been delayed pending the results of bank stress tests due next week which could show a sharp deterioration in the balance sheets of the country's stricken financial institutions. Concerns are growing that Irish banks could require more capital than the 35 billion euros set aside for them under last year's EU/IMF bailout. -Reuters

German business morale Russia keeps dips, Japan worries weigh rates on hold BERLIN: German business ing unabated, adding to the to deter specconfidence eased only slightly case for a first rise in euro zone in March, although the interest rates that may come as ulators prospect of higher interest rates early as next month. Ifo said and concern over the impact of Japan's earthquake has given firms pause for thought, a survey showed on Friday. The closely-watched report by Munich's Ifo think tank on Friday showed its business climate index, based on a monthly survey of some 7,000 firms, inched down to 111.1, compared with a forecast in a Reuters poll for a drop to 110.5. The euro ticked up in response as investors read the survey as showing Germany's economic upturn was continu-

the survey's results were dented by its forward-looking expectations component and the fact that half of the survey's responses came in after the disaster at Japan's Fukushima nuclear plant began to unfold. Analysts said there may be some worries about orders to and from Japan in the nearterm, although sales there are only a tiny proportion of German exports and the concern was likely chiefly about the broad impact on the global economy. -Reuters

MOSCOW: Russia unexpectedly left interest rates on hold on Friday, taking advantage of a slight easing in inflation to raise only its reserve requirements in a move to curb liquidity and discourage any speculative rouble rally. The rouble gave up most of its early gains after the decision, which disappointed investors who had been hoping for a hike to push up yields on Russian assets, although analysts said the central bank would eventually resume rate hikes. -Reuters.

CONTINUATION A lack of education and opportunities are also cited by securicustomers. "Further expanding TFP coverage in Pakistan will be ty analysts as a major source of grievances against the civilian a way to keep the country firmly on the road to sustainable eco- government. These grievances are often exploited by Islamist nomic recovery," said ADB's Pakistan Resident Mission Country militants to recruit foot soldiers.-Reuters Director Rune Stroem. Continued from page 1 No #4 The TFP has provided an array of support for trade in Pakistan. attended by Leader of the House Senator Syed Nayyer Hussain In addition to general trade finance, the programme offers guaranBokhari, Senator Muhammad Azam Swati, Senator Dr Saeeda tees to support imports of oil into Pakistan, which relies heavily Iqbal, Senator Prof Muhammad Ibrahim Khan and officials of on oil from overseas to keep its industry and homes running. In the ministries.-APP the immediate aftermath of extensive floods in mid 2010, ADB Continued from page 1 No #5 implemented a special $500 million Flood Relief Facility for priority to economic growth by keeping the key policy rate Pakistan to help companies import basic commodities such as food and medicine and capital equipment for agriculture and unchanged as the balance of payments position is also favorable and the rupee has been relatively stable. infrastructure reconstruction. Pakistan also announced additional measures last week to Through its partnerships with over 200 banks around the world, the triple A rated ADB has supported $5.2 billion in trade since the cut spending and raise revenue to stabilise the economy and TFP started operating in 2004, $2 billion of it in Pakistan. As well keep the budget deficit under 5.5 percent of gross domestic as providing finance, the programme also helps to bolster links product in 2010-11. The central bank decided to leave its key policy rate between banks in emerging markets and big international banks. Over the longer term, these can reap rewards by embedding the unchanged at 14 percent in January after raising it three consecregion's banks into the global banking community, making busi- utive times. ness easier.-Online The additional revenue measures may cause a hike in inflation along with the rise in international oil prices. Continued from page 1 No #2 Though the government has just raised the local fuel prices by Mohammed Chaudhry heard the waived bank loans case on around 5 percent in March, it would eventually have to pass on Friday. the burden to consumers. Chief Justice Iftikhar Chaudhry proposed the name of Justice Financial institutions like Citibank, Topline Securities Ltd, Jamshed Ali to head the commission. He directed Governor, State Invest & Finance Securities Ltd, Silkbank, Faysal Asset Bank of Pakistan (SBP) to get the consent of the learned Justice Management Ltd, AKD Securities Ltd, Meezan Bank, Invisor and inform the court within three days. The bench adjourned the Securities, Macroeconomic Insights, Global Securities, and IGI hearing till April 25.-Agencies Securities, see the key rate unchanged.-Agencies

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what many think is the country's most pressing long-term challenge. In December 2010, Prime Minister Yousuf Raza Gilani announced that 2011 would be the "year of education," but according to the task force, which is working with the U.K. Department for International Development, Pakistan spends less than 1.5 per cent of its GDP on education - less than the subsidy for Pakistan International Airlines, Pakistan Steel, and Pakistan Electric Power Company. According to figures from UNESCO and other non-governmental organisations, roughly one in 10 of the world's primaryage children who are not in school live in Pakistan, placing it second in the global ranking of out-of-school children, behind Nigeria. Thirty per cent of its population lives in "extreme educational poverty," having received less than two years of education. Thousands of schools have no running water or toilets, and more than 20,000 don't even have physical buildings. And on any given day, 15-20 per cent of all public school teachers don't show up to work. The task force says the economic impact of the poor education system is as expensive as last year's devastating floods, which caused about $10 billion in damages, every year. Country needs to spend an additional 100 billion rupees (729 million pounds) each year to reach the Millennium Development Goal for education by 2015, which it currently has no chance of reaching, the task force said. That's a 50 per cent increase in current funding.

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to stop this heinous criminal," Malik said. Interior minister insisted US to take up the thorny issue with the concerned US authorities for halting that so called priest. The US delegation assured Rehman Malik that mammoth efforts would be undertaken to eliminate the menace of extremism while lauding the prudent policies of Federal Government in this regard.-Online

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were seen on the ground close to a hotel. Fearing more aftershocks, people in the province's Mae Sai district, 60 km from the epicenter, had left their houses and were seen setting up makeshift shelters in open spaces. One woman died in Mae Sai on Thursday when a wall of her home caved in. Somchai Hatyatanti, Chiang Rai provincial governor, said cracks were seen in some buildings. Power was briefly knocked out and some telephone lines were down. Bountheun Menevilay, head of the disaster preparedness division of the Red Cross in neighboring Laos, said the quake was felt strongly in the thinly populated border provinces of Luang Namtha and Bokeo, but no deaths or injuries were reported. Vibul Sguanpong, director general of Thailand's Department of Disaster Prevention and Mitigation, said there had been dozens of aftershocks. "We urge those in very old houses or tall, old buildings near the northern border with Myanmar to check for cracks and other signs of damage, and consider leaving for the next two days while aftershocks are likely," he said.-Reuters

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Uzbekistan Parliament. Later Prime Minister Gilani also went to famous Islamic heritage center, Imam Complex, where he saw the copy of Holy Quran that belonged to third caliph Hazrat Usman Ghani (RA. During his visit to Imam Complex Uzbek he was accompanied by Prime Minister Shaukat Mirzayuf. Earlier Prime Minister Gilani while talking to Dilarom Tashmukhamedova, Speaker of the Legislative Chamber of the Oliy Majlis of the Uzbekistan - the parliament's lower house, at the Parliament building here, urged exchange of parliamentary delegations between the two countries. Prime Minister Gilani was also briefed about the working of Uzbekistan's bicameral parliament and also met chairpersons of various chamber committees. He informed the Uzbek Speaker about many similarities between the two parliaments. Gilani shared the recent legislative successes of the Pakistani parliament and how it managed to unanimously restore the Constitution from the changes made under dictatorial regimes. He spoke about the balance of power amongst the state institutions which he said was vital for good governance. He also informed how the government and the opposition benches work together for the passage of the legislative business. He hoped that the new changes in the Uzbek parliament would make it more sovereign. Speaker Dilarom Tashmukhamedova congratulated the Prime Minister on the successful completion of three years of the government, his policy, and his vision of reconciliation and for taking along all political parties on issues of national importance. She noted that Pakistan was playing a key role in the region with its strong democratic system. She informed the Prime Minister in detail the new changes in Uzbek parliament to make it more sovereign. Both sides agreed that parliamentary interaction can prove useful in strengthening the two countries' relations.-NNI

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puts Nato in charge of clearing the skies still leaves the US responsible for the more difficult task of planning attacks on Gadhafi's ground forces and other targets. Libya's government has taken part of its fight to the airwaves. On Thursday, state television aired pictures of bodies it said were victims of airstrikes, but a US intelligence report bolstered rebel claims that Gadhafi's forces had simply taken bodies from a morgue. International military support for the rebels is not open-ended: French Foreign Minister Alain Juppe on Thursday set a timeframe on the international action at days or weeks - not months. Representatives for the regime and rebels were expected to attend an African Union meeting in Addis Ababa, Ethiopia, on Friday, according to UN Secretary-General Ban Ki-moon, who described it as a part of an effort to reach a cease-fire and political solution. The US has been trying to give up the lead role in the operation against Gadhafi's forces, and Nato agreed late Thursday to assume one element of it - control of the no-fly zone. "Nearly all, some 75 percent of the combat air patrol missions in support of the no-fly zone, are now being executed by our coalition partners," Navy Vice Adm. William Gortney, told reporters at the Pentagon. Other countries were handling less than 10 percent of such missions, he said. US Secretary of State Hillary Rodham Clinton said the United Arab Emirates would deploy 12 planes for the coalition effort. Clinton thanked the U.A.E. for becoming the second Arab country after Qatar to send planes. Qatar is expected to start flying air patrols over Libya by this weekend. Libyan state television showed blackened and mangled bodies that it said were victims of airstrikes in Tripoli. Rebels have accused Gadhafi's forces of taking bodies from the morgue and pretending they were civilian casualties. A US intelligence report on Monday, the day after coalition missiles attacked Gadhafi's Bab al-Aziziya compound in the capital, said that a senior Gadhafi aide was told to take bodies from a morgue and place them at the scene of the bomb damage, to be displayed for visiting journalists. A senior US defense official revealed the contents of the intelligence report on condition of anonymity because it was classified secret. Ajdabiya has been under siege for more than a week, with the rebels holding the city center but facing relentless shelling from government troops positioned on the outskirts. -Agencies

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a four-month low of 3,163 ringgit ($1,044.58) a tonne the previous day. Janmohammad expected current palm oil prices to remain steady during summer. "This is a natural cycle as production months start in March in Malaysia and exports also slow down in early summer," he said. External factors, such as high crude oil prices because of the Middle East conflict, would also likely support the market at the present level, Janmohammad said. "When the crude remains on such a level, no markets can fall much ... It (the market) has a good potential to sustain, rather than go down or go up."-Reuters

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recurrence of such irrational acts. The two leaders also discussed bilateral ties and regional situation.-APP


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Presidency bows to SC’s say on Deedar Talks speak louder than silence: Zardari

TASHKENT: Prime Minister Syed Yousuf Raza Gilani observing the model of Turin Polytechnic University, Tashkent along with his Uzbek counterpart. -APP

Myanmar mourns 74 deaths after 6.8 quake

Huge seism whams Myanmar, Thailand MAE SAI: At least 74 people were killed in a strong earthquake that struck Myanmar, state media said on Friday, while a series of aftershocks have caused panic but only limited damage in Thailand and Laos. The death toll from Thursday's 6.8 magnitude tremor was expected to rise slightly in Myanmar after 225 homes and nine government buildings were destroyed. Over 100 people were injured, according to state television. The quake sparked panic, but no major damage, in other countries across Southeast Asia. This month's devastating Japan quake and tsunami have revived memories of the even more powerful 2004 Indonesia quake and tsunami which killed around 226,000 people. An aftershock of an estimated magnitude of 5.5 rattled Thailand on Friday but caused

Fed’s Lockhart sees “high bar” for QE3 FT. MYERS, Florida: The US economic recovery is on solid ground, making it unlikely the Federal Reserve will extend its bond-buying stimulus program, Atlanta Federal Reserve Bank President Dennis Lockhart said on Friday. Still, growth is still weak enough and inflation is sufficiently low -- despite recent increases in food and energy prices -- to allow policymakers to keep interest rates very low. "I remain satisfied that the current stance of monetary policy is appropriately calibrated to the current and projected state of the economy," Lockhart told the Bonita/Estero Market Pulse Conference. The remarks suggested Lockhart and his colleagues at the Fed plan to continue their program of $600 billion in government bond purchases through to its June deadline, but have no plans to extend the program beyond that. Asked about the chances of another round of quantitative easing, often referred to as QE3, Lockhart said: "It's a high bar." The Fed earlier this month unanimously decided to forge ahead the $600 billion bondbuying program and reiterated a pledge to keep interest rates, currently near zero, at very low levels for an extended period. The policy has proved controversial politically, with many Republicans accusing the U.S. central bank of sowing the seeds of future inflation. Reuters

limited damage, although residents living in properties close to the epicenter were advised to leave their homes. The initial quake shook the famous "Golden Triangle" region, where Myanmar, Thailand and Laos meet. It was felt in the capital cities of Thailand and Myanmar and as far away as Vietnam, where people evacuated tall buildings. It was 6.2 miles below the surface but caused only slight damage on the Thai side The town of Tachilek in Myanmar was badly hit by Thursday's quake. People fled their homes and cracks were seen in the roads. "We were extremely frightened to enter the house since there were several strong aftershocks," a teacher said by telephone. "Some people are haunted by what they saw on TV about the recent earthquake in Japan."

Witnesses crossing the border into Thailand said a large tent had been set up on a soccer field for hundreds of people whose homes were destroyed. Officials said nine government offices and 10 Buddhist monasteries were destroyed. The Red Cross said a hospital in Tachilek had been damaged and trained local volunteers had been mobilised to provide relief and first aid. Thursday's quake was centered 111 km (69 miles) north of Chiang Rai, Thailand's northernmost province and a sparsely populated, hilly area. It forms part of the Golden Triangle, a popular tourist destination and famous for the cultivation of illicit opium. In Chiang Rai's main town, little damage was seen. The spires of several Buddhist pagodas were bent, some tiles were smashed and a few cracks See # 7 Page 11

Gilani for greater Pak-Uzbek parliamentary cooperation

We’re united in WoT: PM TASHKENT: Prime Minister Syed Yousuf Raza Gilani has said that although he enjoys full parliament support but the government follows reconciliation policy taking all the political parties on board. He said this during the meeting with the Speaker of Uzbekistan Assembly Daladam Tashi Mehmooda. He said that the constitution of 1973 has been fully restored to its original form. "Whole Pakistani nation is united against terrorism but all the regional countries would have to adopt the mutual strategy to curb this global menace. Pakistan has sacrificed a lot in the war against terror", Gilani added.

PM told the Uzbek Speaker that the PPP led government does not believe in political victimisation and in spite of the fact that he faced five-year jail he never tried to settle the score. He said that the government is facing two major challenges namely War on Terror (WoT) and revival of economy. Prime Minister also invited Uzbek Speaker to visit Pakistan which he accepted cordially. On the occasion Speaker Uzbekistan Assembly said that Uzbekistan is desirous to see prosperous and strong Pakistan. Prime Minister also visited the different parts of See # 8 Page 11

Gadhafi guns take hit outside besieged city

France claims taking over Libya airspace BENGHAZI: France declared Libya's airspace "under control" on Friday, after Nato agreed to take command of the no-fly zone in a compromise that appeared to set up dual command centers and possibly new confusion. Coalition warplanes struck Moammar Gadhafi's forces outside the strategic eastern gateway city of Ajdabiya. The overnight French and British strikes on an artillery battery and armored vehicles were intended to give a measure of relief to Ajdabiya, where residents have fled more than a

week of shelling and fighting between rebels and government troops. Explosions also could be heard in Tripoli, the Libyan capital, before daybreak Friday, apparently from airstrikes. "Libyan airspace is under control, and we proved it yesterday, because a Libyan plane in the hands of pro-Gadhafi forces, which had just taken off from Misrata in order to bomb Misrata, was destroyed by a French Rafale," Adm. Edouard Guillaud said on France-Info radio. But the compromise that See # 9 Page 11

Palm oil inflows likely to hop in Apr ISLAMABAD: Country may import up to 150,000 tonnes of palm oil in April because of less carry over stock, but buying will slow down during the peak summer months of May and June, a top industry official said on Friday. Pakistan, the world's fourthlargest buyer of vegetable oil, bought less in February because of heavy imports in the preceding months, but buying picked up in March, with 110,400 tonnes purchased from Malaysia during March 1-25. "Pakistan's palm oil imports may touch between 140,000 and 150,000 tonnes in April because there was less carry over," Rasheed Janmohammad, vice chairman of the Pakistan Edible Oil Refiners Association, told Reuters. "But it will be a little slow in May, June - about 100,000 tonnes each - as demand falls because people consume less cooked products in summer." Country's imports a mix of refined and crude palm oil, mainly from Malaysia, but also from Indonesia, the world biggest producers. It consumes about 3 million tonnes of edible oil a year, but produces only 500,000800,000 tonnes of cottonseed, rapeseed and sunflower, relying on imports to meet about 80 per cent of demand. Traders say lower palm oil prices, due to expectation of higher growth in Malaysia and lacklustre import demand, have hurt buyers back home who earlier bought at higher prices. Malaysian palm oil futures rose on Friday for the first time in three days on a technical correction, after expectations of higher output pressured it to hit See # 10 Page 11

ISLAMABAD: President Asif Ali Zardari has decided to retract his decision of reappointing Justice (Retd) Deedar Hussain Shah as Chairman National Accountability Bureau. While PML-N has decided to propose the name of former Supreme Court Judge Khalil ur Rehman Ramday for the post under discussion. Reliable sources told news agency that after consultation with Prime Minister Yousuf Raza Gilani, Chairman Senate Farooq H Naek and other close aides President Zardari has decided to accept the Supreme Court verdict regarding former chairman NAB Justice (Retd) Deedar Hussain Shah retracting his earlier decision of reappointing him. Instead he would be given another key post after consultation with the Prime Minister. Sources added that President also expressed his anger and disapproval for some of his legal experts for fielding the name of Justice (Retd) Deedar Hussain Shah as chairman NAB without fulfilling the legal requirements. The presidency has decided that it would not adopt the course of confrontation with the Supreme Court and would accept its decision. The presidency is also considering names for the NAB chairman slot which

include two judges and one former army officer. This time the government would also take on board the opposition leader and Chief Justice of Pakistan. However, according to some legal experts the President has the discretionary power to appoint chairman NAB. On the other hand official sources said that a senior leader of PML-N has suggested to the government to appoint Supreme Court Judge Khalil ur Rehman Ramday as Chairman NAB as higher judiciary would have no objection to it and the government would also find it easy to consult him. However, President Zardari in view of Ramday's track record is reluctant to consider him. Official sources further said that soon another consultation meeting would be chaired by the president in which a decision would be finalised on the appointment of new chairman NAB. It merits mentioning that SC had disqualified the appointment of Justice (Retd) Deedar Hussain Shah as NAB chairman on account of Section 6(b)(i) of the National Accountability Ordinance (NAO), 1999. The court had observed that the matter of appointing Justice (r) Deedar Hussain Shah as NAB chairman has been handled by the Law

Ministry in a shallow and perfunctory manner. Meanwhile, ahead of the Indo-Pak Home Secretarylevel talks, President Asif Ali Zardari on Friday said that dialogue is essential to resolve the problems between the two countries. "We are hoping to engage India in a new dialogue...and we are hoping that India will respond as the largest democracy of the world to the youngest democracy," Mr. Zardari said. "Dialogue is always the right direction. Whether it starts late or early, small or big, dialogue is always the right direction," he said in an interview to Al-Arabiya news channel. Asked if he would visit India to give a push to the peace process, he said: "Let them (the talks) come up to a certain level. And even then, if the President goes, it won't make a difference because it's the Prime Minister and the Parliament that have to (decide). It's a Parliamentary form of democracy here in Pakistan." His remarks came ahead of a crucial meeting of the Home and Interior Secretaries of India and Pakistan in New Delhi on March 28-29 to mark the resumption of their stalled peace process stalled since the 2008 Mumbai terror attacks. Agencies

Malik vows end of terrorism ISLAMABAD: Federal Interior Minister Rehman Malik Friday again made it clear that a handful of terrorist elements cannot destabilise the country. He expressed these views while talking to a delegation of US Congress in Interior

Ministry here on Friday. Host of issues like Pak-US relations, war against terrorism, enhancement of performance of Intelligence Agencies and other bilateral matters were discussed in depth. Sources say that the meeting was attended by Federal

Interior Secretary Qamar uz Zaman Chaudhry besides US Ambassador Cameron Munter. Sources added that Interior Minister Rehman Malik urged the US delegation to play a role to round up senile pastor Terry Jones. "US must play its role See # 6 Page 11

US pastor’s insanity

Zardari phones Turkey's president ISLAMABAD: President Asif Ali Zardari Friday telephoned President Abdullah Gul of Turkey and talked about the recent incident of deliberate desecration of the Holy Quran by a lunatic in Florida (US). He urged the need for collectively demanding of the UN to take note of it and evolve plan for promoting cultural and religious harmony in the world. The President said that it was time to arrest the downward slide of rationality and sanity through concerted national and international efforts. The two Presidents agreed that deliberate desecration of the Holy Quran was a most despicable act and that steps needed to be taken to prevent See # 11 Page 11

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

The FinancialDaily-Epaper-26-03-2011  

The FinancialDaily Epaper