International Contempt Case: Justice Sair quits bench See on Page 12 Govt barred from amending blasphemy law See on Page 12 Nadra updates NIC form for eunuchs See on Page 12 *Crude Oil (brent)$/bbl 91.37 *Crude Oil (WTI)$/bbl 89.01 *Cotton $/lb 130.25 *Gold $/ozs 1,415.60 *Silver $/ozs 29.67 Malaysian Palm $ 1,150 GOLD (NCEL) PKR 38,980 KHI Cotton 40Kg PKR 10,181 Yearly(Jul, 2010 up to 3-Dec-2010) Monthly(Nov, 2010 up to 3-Dec-2010) Daily (3-Dec-2010) Total Portfolio Invest (19 Nov-2010) 172.41 9.68 8.76 3796 3.45 2.03 -3.02 -0.82 -1.40 -0.08 -0.16 SCRA(U.S $ in million) Portfolio Investment FIPI (6-Dec-2010) Local Companies (6-Dec-2010) Banks / DFI (6-Dec-2010) Mutual Funds (6-Dec-2010) NBFC (6-Dec-2010) Local Investors (6-Dec-2010) Other Organization (6-Dec-2010) (U.S $ in million) NCCPL GDR update Commodities Forex Reserves (27-Nov-10) Inflation CPI% (Jul 10-Oct 10) Exports (Jul 10-Oct 10) Imports (Jul 10-Oct 10) Trade Balance (Jul 10-Oct 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10-Oct 10) Foreign Invest (Jul 10-Oct 10) Revenue (Jul 10-Oct 10) Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Sep 10) GDP Growth FY10E Per Capita Income FY10 Population $16.74bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $569mn Rs 411bn $58.41bn Rs 4863bn $203.80mn -2.58% 4.10% $1,051 171.24mn Economic Indicators 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 2.60 19.00 2.00 1.70 10.59 PKR/Shares 111.53 163.00 42.90 36.46 36.34 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) 01-Dec-2010 01-Dec-2010 01-Dec-2010 29-Nov-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 06-Dec-2010 13.16% 13.39% 13.67% 14.00% 13.18% 13.35% 13.59% 13.94% 14.09% 13.74% 13.80% 14.11% 14.38% 14.51% 14.73% Money Market Update Symbols Buy (Rs) Sell (Rs) Australian $ 82.80 83.00 Canadian $ 84.60 85.60 Danish Krone 15.10 15.20 Euro 112.50 113.00 Hong Kong $ 10.90 11.00 Japanese Yen 1.022 1.047 Saudi Riyal 22.70 22.80 Singapore $ 65.00 66.00 Swedish Korona 12.20 12.30 Swiss Franc 86.85 86.95 U.A.E Dirham 23.10 23.20 UK Pound 132.00 133.00 US $ 85.65 85.95 Open Mkt Currency Rates Symbols Buying Selling TT Clean TT & OD Australian $ 84.60 84.79 Canadian $ 85.29 85.49 Danish Krone 15.35 15.39 Euro 114.39 114.65 Hong Kong $ 11.04 11.07 Japanese Yen 1.035 1.037 Saudi Riyal 22.86 22.92 Singapore $ 65.78 65.94 Swedish Korona 12.56 12.59 Swiss Franc 87.77 87.98 U.A.E Dirham 23.35 23.40 UK Pound 135.02 135.34 US $ 85.79 85.98 Inter-Bank Currency Rates Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com www.thefinancialdaily.com CITIES MAX-TEMP MIN ISLAMABAD 25°C 4°C KARACHI 28°C 15°C LAHORE 24°C 6°C FAISALABAD 23°C 5°C QUETTA 14°C -4°C RAWALPINDI 25°C 4°C Weather Forecast Index Close Change KSE 100 11,440.07 33.41 Nikkei 225 10,167.23 11.09 Hang Seng 23,237.69 82.83 Sensex 30 19,981.31 14.38 ADX 2,749.42 3.84 SSE COMP. 2,857.18 14.75 FTSE 100 5,764.24 18.92 *Dow Jones 11,353.63 28.46 Global Indices France, India seal six nuclear reactors deal See on Page 12 KARACHI: US Ambassador, Cameron Munter ringing the bell in the Trading Hall at Karachi Stock Exchange here on Monday. -APP Munter meets media men, moots Pak affairs Staff Reporter KARACHI: US Ambassador Cameron Munter Monday sup- porting Pakistan government's endeavours to get RGST Bill approved from National Assembly, said US is hopeful that this legislation will not only be passed by the lawmakers, but will also be effectively imple- mented at both federal and provincial levels. He was delivering his first major speech on US-Pak eco- nomic relations at Karachi Stock Exchange (KSE) here as part of interaction with leading business chambers in Pakistan. US Consul General William Martin was also present on the occasion. US Ambassador said Pakistan's tax-to-GDP ratio is less than 9 per cent, which is among the lowest in the world. US citizens pay around 18 per cent to the GDP and many developed countries pay upward of 30 per cent. Regarding the passage of RGST Bill, he said, "This will be an important first step of the government, allowing its capac- ity to raise revenue to boost its security and development." He supported the idea of including agriculture sector in the tax net as it forms the one- fifth of the GDP. This, also being the political question, is not easy, he added. He said US welcomes the open, honest and difficult debate on tax revenues. He said that that the adminis- tration of President Obama is actively working with US Congress to provide market access to help Pakistani export sector. He said market access is much better than any assistance programme that US has for Pakistan. "US Embassy and US Consulates are committed to work with US Congress to pro- vide market access benefits to help Pakistani exporters," he said. However, he said that in the long-term, Pakistan must diver- sify its exports. "We welcome your ideas on how US and Pakistan might work together to promote indus- tries whether to market out- reach, technical assistance, reg- ulatory changes or other way you might suggest." The US envoy said that Reconstruction Opportunity Zones (ROZs) will provide a window of opportunity to pro- duce goods and export them to the United States duty free. He said USA was committed to these ROZs and the Congress will hopefully pass this bill in the coming year. See # 8 Page 11 US puts weight behind RGST US envoy Munter visits KSE, addresses traders Munter visits 'Nine-Zero'; urges MQM to back RGST Supports agri-tax but says it won’t be an easy task Urges Pak to eliminate subsidies in energy sector KSE, best market in region during Nov 2010: MD ISLAMABAD: Finance Ministry said Monday that If RGST fail to get legal cover than government would have to borrow more from State Bank of Pakistan, added that failing RGST means the budget deficit for the current fiscal would fur- ther widen. Officials further said that State Bank would have to increase the interest rate further by two per cent to 16 per cent in order to battle escalating infla- tion. Furthermore, Finance Minister Dr Hafeez Shaikh said that Reformed General Sales Tax (RGST) Bill is the most talked and discussed tax in the country's history. He was talking to media at the 4th CPC Corporate Philanthropy Awards at a hotel here. He said that National Assembly Standing Committee on Finance is cur- rently preparing its recommen- dations on RGST as the repre- sentatives of various political parties are still debating on it. When recommendations are finalised these will be present- ed before the National Assembly for voting, he added. Dr Shaikh said that the Senate Standing Committee on See # 13 Page 11 Key rate seen at 16pc this fiscal Govt to borrow more from SBP ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has approved an increase of 58 paisas per unit in the power tariff of Karachi Electric Supply Company. The fresh hike in power tar- iff has been approved for the month of October in the form of fuel adjustment charges. The raise in tariff would be applicable from January 2011. During public hearing Nepra on behalf of KESC had requested for the increase in power tariff as part of annual fuel adjustment, Nepra approved an increase in KESC power tariff by 58 paisas per unit for the month of October. Nepra also raised its concern over performance of power plants and said that a hefty amount was spent in Bin Qasim Power Plant but desired results have not been achieved. The increase in prices of electricity would not be appli- cable on Life Line consumers. -Online KESC tariff raised by 58 paisas/unit KARACHI: Pakistan's biggest listed firm, the Oil and Gas Development Co Ltd (OGDCL), on Monday announced it will make a joint bid for BP's assets in Pakistan with Pakistan Petroleum Ltd (PPL), added if wins, it will not seek direct involvement and will operate the acquired assets through a company, jointly owned with PPL. BP announced its plans to sell its upstream assets in Pakistan in July, as part of a $10 billion global asset sale aimed at raising cash to pay for its Gulf of Mexico oil spill. "We will bid jointly with PPL," OGDCL spokesman Basharat Mirza said. He did not give any details of the pric- ing. OGDCL already has some stakes in BP's Pakistan assets. PPL is Pakistan's second- largest listed firm by market value. BP's upstream assets and related operations, which it plans to divest, include nine pro- ducing and exploration onshore blocks and four offshore explo- ration blocks in the Arabian Sea, according to official sources. They contribute about 14 per cent of Pakistan's total oil pro- duction and 6 per cent of its domestic gas production. UBS analysts estimated the worth of BP's fields in Pakistan at $690 million in a research note in July. Furthermore, Supreme Court rejected the plea of the consor- tium to go head with BP assets bid plan where OGDC, PPL have submitted their bid here on Monday.-Agencies OGDC, PPL set to buy BP assets SC rejects consortium plea to go ahead with bid PM arrives in Turkey ISLAMABAD/ ISTANBUL: Prime Minister Syed Yousuf Raza Gilani has reached Turkey on Monday on a three- day state visit where he will meet top Turkish leadership including President Abdullah Gul and his Turkish counterpart Recip Tayyip Erdogan. Prime Minister Gilani talking to media personnel before his departure on Chaklala Airbase said that Pakistan and Turkey enjoy profound historical and cultural relationship. Prime Minister Gilani said See # 12 Page 11 Mohmand bombings kill 40 PESHAWAR: Two suspected suicide bombers killed at least 40 people in an attack at the office compound of a senior government official in an area along Afghan border on Monday, officials said. "The blasts destroyed many rooms in the compound and our reports are that 40 people were killed and many wounded," a sen- ior security official in the region said. Amjad Ali Khan, the top government See # 14 Page 11 Karachi, Tuesday, December 7, 2010, Zil Hajj 30, Price Rs12 Pages 12 GENEVA: The world's trading nations reined in anti-dumping action in the first half of the year with a 29 per cent drop in probes into cheap imports, World Trade Organization data showed on Monday. China continued to be the main country targeted by such investigations although the pace declined, while India was the top user of the anti-dump- ing system, according to the WTO data for the period between January and June 30, 2010. Global trade body gave no reasons for the trend as the global economy was recover- ing, although heightened anti- dumping action is often taken as a sign of greater protectionist pressures. Nineteen WTO members launched 69 investigations into suspected dumping -- selling exported goods at below domestic production price -- compared to 97 during the See # 9 Page 11 Anti-dumping drive hits snags Employees Reinstatement President signs Bill into law ISLAMABAD: President Asif Ali Zardari Monday accorded his assent by signing "Sacked Employees (Reinstatement) Bill, 2010" into a law during a special ceremony held here at the Aiwan-e-Sadr on Monday. The signing ceremony was attended among others by fed- eral ministers, members of Parliament, federal Secretaries, representatives of reinstated employees and other officials. Sacked Employees (Reinstatement) Bill, 2010 was passed by National Assembly and the Senate on 7th October and 10th November respective- ly. It became a law today after the President formally gave his assent to it. According to Presidential spokesman, addressing the gathering on the occasion, the President said that he is pleased to have signed into law today the Sacked Employees See # 10 Page 11 Muharram moon not sighted, Ashur on 17th Staff Reporter KARACHI: The moon for the month of Muharram was not sighted on Monday, which means Yaum-e-Ashur will fall on Friday December 17, 2010. Mufti Muneeb-ur Rehman, chairman of the Ruet-e-Hilal Committee, addressing the media in Peshawar, announced that no testimonies for sighting of the moon were received across Pakistan. The Muharram and new Islamic year will start on Wednesday. Earlier in the day a high-level meeting chaired by Interior Minister Rehman Malik reviewed overall security arrangements made for the month of Muharram and direct- ed all Provincial Home See # 11 Page 11
The Financial Daily-Epaper-07-12-2010
Mar 09, 2016
The Financial Daily Epaper
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International
Contempt Case: Justice Sair quits bench See on Page 12
Govt barred from amending blasphemy law See on Page 12
Nadra updates NIC form for eunuchs See on Page 12
*Crude Oil (brent)$/bbl 91.37
*Crude Oil (WTI)$/bbl 89.01
*Cotton $/lb 130.25
*Gold $/ozs 1,415.60
*Silver $/ozs 29.67
Malaysian Palm $ 1,150
GOLD (NCEL) PKR 38,980
KHI Cotton 40Kg PKR 10,181
Yearly(Jul, 2010 up to 3-Dec-2010)
Monthly(Nov, 2010 up to 3-Dec-2010)
Daily (3-Dec-2010)
Total Portfolio Invest (19 Nov-2010)
172.41
9.68
8.76
3796
3.45
2.03
-3.02
-0.82
-1.40
-0.08
-0.16
SCRA(U.S $ in million)
Portfolio Investment
FIPI (6-Dec-2010)
Local Companies (6-Dec-2010)
Banks / DFI (6-Dec-2010)
Mutual Funds (6-Dec-2010)
NBFC (6-Dec-2010)
Local Investors (6-Dec-2010)
Other Organization (6-Dec-2010)
(U.S $ in million)
NCCPL
GDR update
Commodities
Forex Reserves (27-Nov-10)
Inflation CPI% (Jul 10-Oct 10)
Exports (Jul 10-Oct 10)
Imports (Jul 10-Oct 10)
Trade Balance (Jul 10-Oct 10)
Current A/C (Jul 10- Oct 10)
Remittances (Jul 10-Oct 10)
Foreign Invest (Jul 10-Oct 10)
Revenue (Jul 10-Oct 10)
Foreign Debt (Sep 10)
Domestic Debt (Aug 10)
Repatriated Profit (Jul- Oct 10)
LSM Growth (Sep 10)
GDP Growth FY10EPer Capita Income FY10Population
$16.74bn
14.17%
$7.17bn
$12.25bn
$(5.08)bn
$(533)mn
$3.50bn
$569mn
Rs 411bn
$58.41bn
Rs 4863bn
$203.80mn
-2.58%
4.10%
$1,051
171.24mn
Economic Indicators
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
2.60
19.00
2.00
1.70
10.59
PKR/Shares
111.53
163.00
42.90
36.46
36.34
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)
01-Dec-2010
01-Dec-2010
01-Dec-2010
29-Nov-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
06-Dec-2010
13.16%
13.39%
13.67%
14.00%
13.18%
13.35%
13.59%
13.94%
14.09%
13.74%
13.80%
14.11%
14.38%
14.51%
14.73%
Money Market Update
Symbols Buy (Rs) Sell (Rs)
Australian $ 82.80 83.00
Canadian $ 84.60 85.60
Danish Krone 15.10 15.20
Euro 112.50 113.00
Hong Kong $ 10.90 11.00
Japanese Yen 1.022 1.047
Saudi Riyal 22.70 22.80
Singapore $ 65.00 66.00
Swedish Korona 12.20 12.30
Swiss Franc 86.85 86.95
U.A.E Dirham 23.10 23.20
UK Pound 132.00 133.00
US $ 85.65 85.95
Open Mkt Currency Rates
Symbols Buying Selling
TT Clean TT & OD
Australian $ 84.60 84.79
Canadian $ 85.29 85.49
Danish Krone 15.35 15.39
Euro 114.39 114.65
Hong Kong $ 11.04 11.07
Japanese Yen 1.035 1.037
Saudi Riyal 22.86 22.92
Singapore $ 65.78 65.94
Swedish Korona 12.56 12.59
Swiss Franc 87.77 87.98
U.A.E Dirham 23.35 23.40
UK Pound 135.02 135.34
US $ 85.79 85.98
Inter-Bank Currency Rates
Subscribe now
Tel: 92-21-5311893-6Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
CITIES MAX-TEMP MIN
ISLAMABAD 25°C 4°C KARACHI 28°C 15°C LAHORE 24°C 6°C FAISALABAD 23°C 5°C QUETTA 14°C -4°C RAWALPINDI 25°C 4°C
Weather Forecast
Index Close Change
KSE 100 11,440.07 33.41
Nikkei 225 10,167.23 11.09
Hang Seng 23,237.69 82.83
Sensex 30 19,981.31 14.38
ADX 2,749.42 3.84
SSE COMP. 2,857.18 14.75
FTSE 100 5,764.24 18.92
*Dow Jones 11,353.63 28.46
Global Indices
France, India seal sixnuclear reactors deal
See on Page 12
KARACHI: US Ambassador, Cameron Munter ringing the bell in the Trading Hall at Karachi Stock Exchange here on Monday. -APP
Munter meetsmedia men,moots Pak affairs
Staff Reporter
KARACHI: US AmbassadorCameron Munter Monday sup-porting Pakistan government'sendeavours to get RGST Billapproved from NationalAssembly, said US is hopefulthat this legislation will not onlybe passed by the lawmakers, butwill also be effectively imple-mented at both federal andprovincial levels.
He was delivering his firstmajor speech on US-Pak eco-nomic relations at KarachiStock Exchange (KSE) here aspart of interaction with leadingbusiness chambers in Pakistan.
US Consul General WilliamMartin was also present on theoccasion.
US Ambassador saidPakistan's tax-to-GDP ratio isless than 9 per cent, which isamong the lowest in the world.US citizens pay around 18 percent to the GDP and manydeveloped countries payupward of 30 per cent.
Regarding the passage ofRGST Bill, he said, "This willbe an important first step of thegovernment, allowing its capac-ity to raise revenue to boost itssecurity and development."
He supported the idea ofincluding agriculture sector inthe tax net as it forms the one-fifth of the GDP. This, alsobeing the political question, isnot easy, he added.
He said US welcomes theopen, honest and difficultdebate on tax revenues.
He said that that the adminis-tration of President Obama isactively working with USCongress to provide marketaccess to help Pakistani exportsector.
He said market access is
much better than any assistanceprogramme that US has forPakistan.
"US Embassy and USConsulates are committed towork with US Congress to pro-vide market access benefits tohelp Pakistani exporters," hesaid.
However, he said that in thelong-term, Pakistan must diver-sify its exports.
"We welcome your ideas onhow US and Pakistan mightwork together to promote indus-tries whether to market out-reach, technical assistance, reg-ulatory changes or other wayyou might suggest."
The US envoy said thatReconstruction OpportunityZones (ROZs) will provide awindow of opportunity to pro-duce goods and export them tothe United States duty free.
He said USA was committedto these ROZs and the Congresswill hopefully pass this bill inthe coming year.
See # 8 Page 11
US puts weightbehind RGST
US envoy Munter visits KSE, addresses traders
Munter visits 'Nine-Zero'; urges MQM to back RGSTSupports agri-tax but says it won’t be an easy task
Urges Pak to eliminate subsidies in energy sectorKSE, best market in region during Nov 2010: MD
I S L A M A B A D : F i n a n c eMinistry said Monday that IfRGST fail to get legal coverthan government would have toborrow more from State Bankof Pakistan, added that failingRGST means the budget deficitfor the current fiscal would fur-ther widen.
Officials further said thatState Bank would have toincrease the interest rate furtherby two per cent to 16 per cent inorder to battle escalating infla-tion.
Furthermore, FinanceMinister Dr Hafeez Shaikh saidthat Reformed General SalesTax (RGST) Bill is the most
talked and discussed tax in thecountry's history.
He was talking to media atthe 4th CPC CorporatePhilanthropy Awards at a hotelhere. He said that NationalAssembly StandingCommittee on Finance is cur-rently preparing its recommen-dations on RGST as the repre-sentatives of various politicalparties are still debating on it.
When recommendations arefinalised these will be present-ed before the NationalAssembly for voting, he added.
Dr Shaikh said that theSenate Standing Committee on
See # 13 Page 11
Key rate seen at16pc this fiscal
Govt to borrow more from SBP
ISLAMABAD: NationalElectric Power RegulatoryAuthority (NEPRA) hasapproved an increase of 58paisas per unit in the powertariff of Karachi ElectricSupply Company.
The fresh hike in power tar-iff has been approved for themonth of October in the formof fuel adjustment charges.
The raise in tariff would beapplicable from January 2011.
During public hearing Nepraon behalf of KESC hadrequested for the increase in
power tariff as part of annualfuel adjustment, Nepraapproved an increase in KESCpower tariff by 58 paisas perunit for the month of October.
Nepra also raised its concernover performance of powerplants and said that a heftyamount was spent in BinQasim Power Plant butdesired results have not beenachieved.
The increase in prices ofelectricity would not be appli-cable on Life Line consumers.-Online
KESC tariff raisedby 58 paisas/unit
KARACHI: Pakistan's biggestlisted firm, the Oil and GasDevelopment Co Ltd(OGDCL), on Mondayannounced it will make a jointbid for BP's assets in Pakistanwith Pakistan Petroleum Ltd(PPL), added if wins, it will notseek direct involvement andwill operate the acquired assetsthrough a company, jointlyowned with PPL.
BP announced its plans tosell its upstream assets inPakistan in July, as part of a$10 billion global asset saleaimed at raising cash to pay forits Gulf of Mexico oil spill.
"We will bid jointly withPPL," OGDCL spokesmanBasharat Mirza said. He didnot give any details of the pric-ing. OGDCL already has somestakes in BP's Pakistan assets.
PPL is Pakistan's second-largest listed firm by marketvalue.
BP's upstream assets andrelated operations, which itplans to divest, include nine pro-ducing and exploration onshoreblocks and four offshore explo-ration blocks in the Arabian Sea,according to official sources.They contribute about 14 percent of Pakistan's total oil pro-duction and 6 per cent of itsdomestic gas production.
UBS analysts estimated theworth of BP's fields in Pakistanat $690 million in a researchnote in July.
Furthermore, Supreme Courtrejected the plea of the consor-tium to go head with BP assetsbid plan where OGDC, PPLhave submitted their bid hereon Monday.-Agencies
OGDC, PPL setto buy BP assets
SC rejects consortium plea to go ahead with bid
PM arrivesin Turkey
ISLAMABAD/ ISTANBUL:Prime Minister Syed YousufRaza Gilani has reachedTurkey on Monday on a three-day state visit where he willmeet top Turkish leadershipincluding President AbdullahGul and his Turkish counterpartRecip Tayyip Erdogan.
Prime Minister Gilani talkingto media personnel before hisdeparture on Chaklala Airbasesaid that Pakistan and Turkeyenjoy profound historical andcultural relationship.
Prime Minister Gilani said See # 12 Page 11
Mohmand bombings kill 40PESHAWAR: Two suspected suicide bombers killed at least 40people in an attack at the office compound of a senior governmentofficial in an area along Afghan border on Monday, officials said.
"The blasts destroyed many rooms in the compound and ourreports are that 40 people were killed and many wounded," a sen-ior security official in the region said.
Amjad Ali Khan, the top government See # 14 Page 11
Karachi, Tuesday, December 7, 2010, Zil Hajj 30, Price Rs12 Pages 12
GENEVA: The world's tradingnations reined in anti-dumpingaction in the first half of theyear with a 29 per cent drop inprobes into cheap imports,World Trade Organization datashowed on Monday.
China continued to be themain country targeted by suchinvestigations although the
pace declined, while India wasthe top user of the anti-dump-ing system, according to theWTO data for the periodbetween January and June 30,2010.
Global trade body gave noreasons for the trend as theglobal economy was recover-ing, although heightened anti-
dumping action is often takenas a sign of greater protectionistpressures.
Nineteen WTO memberslaunched 69 investigations intosuspected dumping -- sellingexported goods at belowdomestic production price --compared to 97 during the
See # 9 Page 11
Anti-dumping drive hits snags
Employees Reinstatement
Presidentsigns Billinto law
ISLAMABAD: President AsifAli Zardari Monday accordedhis assent by signing "SackedEmployees (Reinstatement)Bill, 2010" into a law during aspecial ceremony held here atthe Aiwan-e-Sadr on Monday.
The signing ceremony wasattended among others by fed-eral ministers, members ofParliament, federal Secretaries,representatives of reinstatedemployees and other officials.
Sacked Employees(Reinstatement) Bill, 2010 waspassed by National Assemblyand the Senate on 7th Octoberand 10th November respective-ly. It became a law today afterthe President formally gave hisassent to it.
According to Presidentialspokesman, addressing thegathering on the occasion, thePresident said that he is pleasedto have signed into law todaythe Sacked Employees
See # 10 Page 11
Muharrammoon notsighted, Ashur on 17th
Staff Reporter
KARACHI: The moon for themonth of Muharram was notsighted on Monday, whichmeans Yaum-e-Ashur will fallon Friday December 17, 2010.
Mufti Muneeb-ur Rehman,chairman of the Ruet-e-HilalCommittee, addressing themedia in Peshawar, announcedthat no testimonies for sightingof the moon were receivedacross Pakistan.
The Muharram and newIslamic year will start onWednesday.
Earlier in the day a high-levelmeeting chaired by InteriorMinister Rehman Malikreviewed overall securityarrangements made for themonth of Muharram and direct-ed all Provincial Home
See # 11 Page 11
2 Tuesday, December 7, 2010
TV PROGRAMMES
TUESDAY
Time Programmes7:00 News8:00 News9:05 Subah Savere
Maya ke Sath11:00 News12:00 News13:10 Newsbeat (Rpt)14:10 Tonight With
Jasmeen (Rpt)15:00 News16:00 News17:30 Samaa Metro18:00 News18:30 Samaa Sports19:30 Crime Scene20:03 Newsbeat21:00 News22:03 Tonight With
Jasmeen23:00 News23:30 24
Staff Reporter
KARACHI: TheFederation of PakistanChambers of Commerce& Industry (FPCCI) hasstrongly condemned thefurther increase in powertariffs, and stated the con-tinuous increase in elec-tricity charges is aplanned conspiracy insabotaging the Economyof the country which willonly result in haltingTrade and Manufacturingactivities.
This was stated bySultan Ahmed Chawla,President FPCCI in ameeting called by him todiscuss the recent increaseby National ElectricPower RegulatoryAuthority (NEPRA) atFederation House,Karachi.
Sultan Ahmed ChawlaSaid that the EconomicManagers at last hasrealised that dependenceon conditional loans was
not in the interest of coun-try and approaching IMFwas the mistake, whichshould not be repeated."Seeking loans for payingback installment of pastloans was out of question"argued Mr. Sultan Chawlastating that annual pay-ment of external debts,meeting losses ofNational Airline PIA andRailways, burden ofunproductive and non-development charges andprice of war against ter-rorism account for morethan the envisaged rev-enue target of 1.65 trillionfor the year 2010-2011.
S M Muneer FormerPresident FPCCI hasstrongly condemned thefurther increase in powertariffs , He Said that Godhas gifted Pakistan fertileland, strong Agricultureand Live Stock, naturalresources in form of min-erals, precious stones, nat-ural gas, plentiful waterresources, manufacturing
capacity to meet thedomestic needs, we onlyneed to manage our natu-ral and human resourcesin a productive mannerand national spirit" saidMuneer suggested theGovernment for shiftingthe priorities from import-based consumption toexport-led growth andmore dependence on ownresources.
Zikarya Usman VicePresident FPCCI whilecondemning the decisionby the NEPRA said thatthe government regulatorsare compromising theeconomy with its hawkishdecision. He said that theindustrialists were repeat-edly demanding to bringdown the Electricity, gas,Petroleum Product andinterest rate to single digitso that ailing industrywould be able to recoverfrom depression, howeverthe adverse decisionwould only give severedamage to the economy.
FPCCI slams increasein power tariff
KARACHI: NationalBank of Pakistan has beenawarded Bank of the YearAward 2010.
The Banker Magazineannounced the most cov-eted award - "The BestBank Award 2010", duringan award ceremony heldat London on December02.
During the award cere-mony, NBP was awardedthe "The Best Bank Award2010" the award wasreceived by Dr. Asif A.
Brohi, SEVP/Group ChiefOperations Group.
The said award is givento recognize and promoteindustry wide excellencein the global bankingindustry and it is country
based and is on both quan-titative and qualitativeassessment. According tothe recently announced"The Best Bank Award2010" by The Bankermagazine of UK, NBP hasexcelled in performanceagainst all the banks inPakistan.
In June 2010 TheBanker Magazine pub-lished a list of Top 1000Banks from all over theworld. In that listing NBPwas ranked No.1 in
Pakistan based onStrength, Size, Soundness,Profit and Performance.NBP, based on Tier 1Capital Strength, wasawarded as the Top Bankin Pakistan.-Online
Bank of theYear award
goses to NBP
ISLAMABAD: MCB,through its Treasury & FXGroup is setting up theBank's Islamabad Treasuryoffice.
According to a pressrelease issued on Mondaythe initiative follows thedevelopments made by therecently-opened LahoreTreasury.
The Islamabad Treasurywould ensure that a fullproduct suite is providedto bank's valuable clientsat their doorsteps in thenation's capital, anincreasingly importantfinancial centre.
Treasury products andexpertise will now be
delivered to a wider clientbase in a customer-friendlymanner and with addedconvenience, bringing apersonal touch whileenhancing service qualityto bank's clients, it said.
This office will haveteam members experiencedin the field to help strength-en existing relationshipsand to identify potentialnew ones in the region.
It will also augmentMCB's Wholesale,Commercial, Consumer,and Islamic Banking busi-nesses and will extend fullsupport in 'cross-sell' activ-ities for the Bank's diverseproduct suite.-NNI
MCB sets upIsb treasury
KARACHI: The Advisorto the Chief MinisterSindh on Information,Sharmila Farooqui onMonday visited the BurnsWard of Civil HospitalKarachi to enquire abouta girl allegedly assaultedand burnt.
According to a state-ment issued here onMonday by theProvincial InformationDepartment, SharmilaFarooqui said that thegirl identified as Rahilawas victimised allegedly
by an accused identifiedas Faizan.
The accused has beenarrested by KorangiPolice on the directivesof the Advisor. "The 15-year-old victim is alsopregnant and we wouldappeal justice from thecourt of law," she told themedia after attending thevictim at the Hospital.
Sharmila said that thecondition of the victimwas very precarious andshe had suffered 98 percent burn injuries.-APP
Sharmila visitsburn victim
Staff Reporter
DECEMBER: CupolaPakistan and Samaa TVsigned an agreement onMonday for launchingSamaa Visibility programof Samaa TV in all themajor cities of Pakistan atKFC outlets, said a hand-out issued here.
Rafiq Rongoonwalla,CEO Cupola Pakistan andImtiaz Zaidi CEO, SamaaTV signed a mutual agree-ment for Samaa TV visibil-ity on 30 main branches ofKFC throughout Pakistan.The ceremony was attend-ed by Naeemuddin Syed,Executive Director NewInitiative, KhurramFayyaz, DirectorDistribution, Mirza HaiderBaig Senior Manager
Visibility from Samaa TVand Faud HameedManager Marketing KFCand other officials fromboth organisations.
Imtiaz Zaidi said the part-nership with CupolaPakistan aims to build agood relationship betweenboth the organisations, healso emphasised on the direneed of the era that private
organisations should joinhands together for the bet-terment of the country.
Rafiq Rongoonwalla,CEO Cupola Pakistanexpressed that, "CupolaPakistan partnering withSamaa TV will open newavenues for consumersentertainment while theyenjoy 'finger licking goodmeals'.
Samaa gets visibilityin KFC outlets
M Imran Sharif
KARACHI: Removal ofthe 2005 sales tax regimeon five zero rated sectorsis a prescription for cor-ruption and disaster toeconomy with no gain tothe national economy, thiswas stated by PakistanHosiery ManufacturersAssociation at a press con-ference held here.
It was expressed that thisis indeed a matter of greatirony that before taking avital decision of impositionof Reformed general SalesTax (RGST), the govern-ment failed to consult thestakeholders as such consul-tations are imperative. It isreally apathy that the
Government is bent onrepeating the mistake of col-lecting sales tax and thenreturning which is taking theexporters to the dark ages.
RGST proposes with-drawal of the 2005 SalesTax Regime for the fivezero rated sectors from 5export oriented sectorswhich is against the policyof the Government, where-in any sector with 80 percent or more of the coun-try's production beingexported cannot be sub-jected to Sales Tax for thesimple reason to avoiddepositing and refundingwithout any significantgain to the nationalexchequer.
PHMAproposed that FBR
generates revenue and getfunds from other saleswhich are not paid backinstead of punishing them a n u f a c t u r e r s - c u m -exporters because sales taxis taken and then given backinvolving large Governmentmachinery which includescollectors, auditors and staff,for which the governmenthas to incur huge amount ofmoney on such overheads.
We strongly feel that allthe Pakistan Chambers andExporters' Associations -the major stakeholdersshould be consulted forincreasing taxes and suchconsensus is imperative tobring down the risinginflation as well asincrease in GDP.
RGST is a prescriptionfor corruption: PHMA
TUESDAY
Time Programmes8:00 Chai Time (Rpt)9:00 News9:15 Pehla Sauda10:00 News 10:15 Bazaar11:00 News11:05 Ghar Ka Kharch12:00 News12:15 Power Lunch13:00 News13:05 Islamabad Say
(Rpt)14:00 News15:02 Akhri Sauda15:30 Tax Time (Rpt)16:15 Karobari Dunya17:05 Ghar Ka Kharch
(Rpt)18:05 Chai Time19:00 News19:05 Aap Ka Paisa19:30 Mang Raha Hai
Pakistan 20:00 News20:05 Islamabad Say 21:00 Pakistan Aaj Raat22:00 News22:05 Doosra Pehlu23:00 News23:05 Kamyab (Rpt)0:00 News
BQATIfacing lowgas pressureKARACHI: Bin QasimAssociation of Trade andIndustry (BQATI) area isfacing deep problems dueto low pressure of gas, ithas been leant.
Mian MuhammadAhmed, Founder Presidentof Bin Qasim Associationof Trade & Industry, in aletter to Managing DirectorSSGC Dr Faizullah Abbasi,said the industries in BinQasim area have alwaysproved to be most coopera-tive at all times but the lowgas pressure was creatingproblems for them.
"First of all, we wereasked to reduce the load by20 per cent during the peri-od from 27-10-2010 to 04-11-2010, as it was desiredfor the purpose of mainte-nance of Zamzama field. Inresponse thereof, all theindustries did reduce theGas Pressure not only up tothe required limit of 20 percent but even more than thatfrom 25pc to 30 per cent,"said Director SSGC.
MultinetestablisheseConnect
hub in PakKARACHI: MultinetPakistan, in collaborationwith Epsilon launcheseConnect, the CarrierNeutral InterconnectPlatform and its ePoP serv-ices in Karachi, it has beenlearnt.
The eConnect Hub inSouth Asia will effectivelycater to the growingdemand for the fast andcost effective exchange ofvoice and data trafficbetween local telecomoperators in Pakistan whileproviding a managed pres-ence for local and interna-tional Carriers.
The new eConnect doesnot only provide a carrierneutral 'meet-me-room', italso offers access to interna-tional capacity from Karachito Epsilon's European andAsian network.
Adnan Asdar Ali, CEO,Multinet said; "Multinet isworking towards takingPakistan's fixed telecom-munication market to thenext level of operationaland business efficiency.Epsilon's e-connect plat-form leverages existinginvestments of collaborat-ing operators to create timeand CAPEX efficiencysolutions for the end busi-ness users".-PR
Samsungclaims todominate
3DTV mktKARACHI: SamsungElectronics dominatedthe 2010 third quarter 3DTV market in the UnitedStates, establishing anequation of '3D TV =Samsung', said a state-ment issued here onMonday.
Samsung Electronicstook an 81.9 per cent (interms of units sold) of theUS 3D TV market duringthe July-September peri-od, according to NPD, amarket research firm.Meaning four out of five3D TVs sold in the USduring the quarter were'Samsung 3D TV.'
In particular, the SouthKorean electronics giantwon a complete victoryin North America whichrepresents 50.8 of theglobal 3D flat-panel TVmarket, furthering itsposition as a predominantplayer in the market.
Samsung's superiorityin the 3D TV market hasbeen driven by effortsinitiated with its indus-try-leading launch of FullHD 3D LED TV serieslast March, backed by thelargest 3D TV line-up oftrio products and a 3Dtotal solution, which con-tributed to helping thecompany.-PR
Mobilinkfacilitates
youthwith newproduct
ISLAMABAD: Mobilinklaunched its new package"Jazba" on Jazz with thefreedom to make sub-sidised calls all day andenjoying unmatched "On-net" and "Off-Net" rates,said a handout issuedhere on Monday.
"Jazba" brings a multi-tude of superior offeringsencased in one simplepackage surpassing allprevious packages andpromos available in thecellular industry ofPakistan. Jazba is alsoenriched with high valueBundle-offers to suit thecommunication needs ofthe subscriber.
Mobilink's vice-presi-dent Marketing, BilalMunir Sheikh said; "Wehave launched "SuchJazba" to deliver power-packed communicationfor the Pakistani youth.The launch of this pack-age by Mobilink Jazz sig-nifies the importance ofthis segment, which isvibrant and has uniqueneeds to fulfill their com-munication needs. Jazbafills that need and allowsour young Pakistanis thefreedom to communicatewith their friends andfamily conveniently andwith ease. Also keepingin mind thee limitedpockets of our youth seg-ment the value addedservices and bundlesmake this the ideal con-nection for our youthtoday!"-PR
KARACHI: Mian Shahid, Chairman UnitedInternational Group and UIC, Abu Dhabi Dewaar
Group of Companes Chairman Shaikh RashidHiran Saeed Ul Qutmi Shairing views after singing
bussiness agreement.-Staff Photo
KARACHI: Provincial Advisor Sharmeela Farooqi taking to the media personsafter enquiring about the health of a girl who tried to self emulate after a failed
attempt of rape, at Civil Hospital.-Online
KARACHI: Federal Minister for Finance Senator Abdul Hafeez Shaikh giving award to Mariam ShahManger Corporate Communication PSO during Corporate Philanthropy Award 2010 organised
by Pakistan Center for Philanthropy at local hotel.-APP
KARACHI: Consul General of UAE for Pakistan,Suhail Bin Matar Al-Ketbi and Amer Khan, country
manager Pakistan for Etihad Airways giving outEtihad Airways Pearl Business Class ticket to the
airline's home-base Abu Dhabi at the UAE nationalday reception held in Karachi.-Staff Photo
KARACHI: Shahid Jawed Qureshi President, PMFA& Vice Chairman KATI, presenting an honoraryshield to Honourable Dato’ Sari Haji Mustapha
Mohamed Minister of International Trade &Industry Malaysia on the occasion of his recent
visit to Karachi.-Staff Photo
MUMBAI: The Indian rupeetrimmed gains on Monday,retreating from three-weekhighs, tracking losses in the euroand a reversal in local shares butdollar sales by exporters helpedthe local unit notch its fifthstraight daily gain.
The partially convertiblerupee closed at 44.95/96 perdollar, off a high of 44.7950,which was its highest since Nov.12 but still 0.3 per cent above45.10/11 at close on Friday.
Last week, the rupee hadrisen 1.6 per cent in its bestweekly gain in 2 months.
"It was mostly a range playtoday. Rupee was closelytracking movements in theequity markets and the euro.There was good importerdemand sub-44.90 levels," saidAshtosh Raina, head of foreignexchange at HDFC Bank inMumbai.
"Tomorrow again directionwill depend on equities andcross currency movementsovernight, but 44.80 is a strongsupport level for the dollar, so a44.80-45.20 range is likely,"Raina said. Foreign funds havebought $638 million worth ofshares over last week, latestdata shows, taking net invest-
ments to a record of around$29.3 billion in 2010, on top ofthe $17.5 billion purchased lastyear.
The one-year premium roseto as much as 238.75 pointsfrom 229.50 points at Friday'sclose. One-month offshorenon-deliverable forward con-tracts were quoted at 45.23,weaker than the onshore spotrate, suggesting a bearish near-term outlook.
In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, MCX-SX andUnited Stock Exchangeclosed at 45.15, 45.1450 and45.16 respectively, with totaltraded volume on the threeexchanges at a moderate $6.2billion. -Reuters
Indian rupee retreatsfrom 3-week peak
3Tuesday, December 7, 2010
Currencies Rate
Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).
British Members Association Interest Settlement Rates.
AT 11:00 LONDON TIME 06/12/2010
A USD GBP CAD EUR JPY
O/N 0.24031 0.55563 0.98167 0.36375 SN 0.08938
1WK 0.25500 0.56188 1.02667 0.65375 0.10063
2WK 0.25750 0.56625 1.06000 0.67500 0.10563
1MO 0.26500 0.57813 1.09750 0.76500 0.11875
2MO 0.28250 0.63313 1.15167 0.85625 0.14625
3MO 0.30344 0.74375 1.22917 0.97125 0.18250
4MO 0.35031 0.82625 1.30167 1.03500 0.24563
5MO 0.40813 0.93500 1.36500 1.11625 0.30375
6MO 0.45969 1.04063 1.44167 1.20625 0.35188
7MO 0.51313 1.11688 1.50667 1.25000 0.40375
8MO 0.56438 1.20188 1.57917 1.30000 0.45063
9MO 0.61688 1.28438 1.64500 1.34750 0.49625
10MO 0.66781 1.35938 1.71000 1.39750 0.52125
11MO 0.72094 1.42813 1.80000 1.44500 0.54750
12MO 0.78250 1.49625 1.88500 1.48625 0.57625
Countries Selling Buying BuyingTT & OD TT Clean OD/T.CHQ
U.S.A. 85.95 85.75 85.56U.K. 135.34 13502.00 134.71EURO 114.65 114.39 114.12CANADA 85.49 85.29 85.07SWITZERLAND 87.98 87.77 87.54AUSTRALIA 84.79 84.60 84.37SWEDEN 12.59 12.56 12.53JAPAN 1.04 1.03 1.03NORWAY 14.35 14.32 14.28SINGAPORE 65.94 65.78 65.61DENMARK 15.39 15.35 15.31SAUDI ARABIA 22.92 22.86 22.80HONG KONG 11.07 11.04 11.01CHINA 12.92 12.89 12.86KUWAIT 306.02 305.31 304.51MALAYSIA 27.33 27.27 27.20NEW ZEALAND 65.52 65.37 65.20QATAR 23.60 23.55 23.49U.A.E. 23.40 23.35 23.29KR WON 0.08 0.08 0.08THAILAND 2.86 2.86 2.85
London Inter Bank Offered Rates (LIBOR)
Name Bid Ask High Low
EUR-USD 1.3295 1.3299 1.3422 1.3250
USD-CHF 0.9855 0.9859 0.9870 0.9726
GBP-USD 1.5681 1.5685 1.5774 1.5659
USD-CAD 1.0060 1.0064 1.0081 1.0025
AUD-USD 0.9893 0.9897 0.9926 0.9853
EUR-JPY 110.0400 110.0800 111.0600 109.7000
EUR-GBP 0.8476 0.8479 0.8509 0.8456
EUR-CHF 1.3112 1.3116 1.3115 1.3004
GBP-JPY 129.7500 129.8100 130.6100 129.6700
CHF-JPY 83.8800 83.9200 85.1200 83.9100
CAD-CHF 0.9800 0.9805 0.9802 0.9688
Gold 1415.2300 1416.0300 1418.7900 1409.7100
Silver 29.6900 29.7400 29.8900 29.2800
As per 22.00 PST
Time Source Events Forecast Previous
5:01 GBP BRC Retail Sales Monitor y/y 0.8%
8:30 AUD Cash Rate 4.75% 4.75%
7th-8th GBP Halifax HPI m/m 0.3% 1.8%
14:30 GBP Manufacturing Production m/m 0.4% 0.1%
14:30 GBP Industrial Production m/m 0.3% 0.4%
16:00 EUR German Factory Orders m/m 1.9% -4.0%
19:00 CAD Overnight Rate 1.00% 1.00%
Tentative GBP NIESR GDP Estimate 0.5%
20:00 USD IBD/TIPP Economic Optimism 48.3 46.7
Source Events Actual Forecast Previous
AUD MI Inflation Gauge m/m 0.4% 0.3%
EUR Sentix Investor Confidence 9.7 13.2 14.0
CAD Building Permits m/m -6.5% -2.9% 14.9%
CAD Ivey PMI 57.5 56.4 56.7
Previous Day
Top Economic Events
Central Bank Next Meeting Last Change Current
Interest Rate
Bank of Canada Dec 07 2010 Sep 08 2010 1%
Bank of England Dec 09 2010 Mar 05 2009 0.50%
Bank of Japan Dec 21 2010 Dec 19 2008 0.10%
European Central Bank Jan 13 2011 May 07 2009 1%
Federal Reserve Dec 14 2010 Dec 16 2008 0.25%
Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%
The Reserve Bank of Australia Dec 07 2010 Nov 02 2010 4.75%
Major Central Banks Overview
Division of National Bank of Pakistan (NBP)KARACHI, December 06,2010 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:
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
ABPL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ABLN 12.10 12.60 12.35 12.85 13.00 13.50 13.15 13.40 13.40 13.65 13.45 13.95 13.60 14.10 13.70 14.20
JSBL 12.40 12.90 12.60 13.10 12.80 13.30 13.45 13.70 13.50 13.75 13.45 13.95 13.70 14.20 14.00 14.50
ASPK 12.30 12.80 12.50 13.00 12.65 13.15 13.00 13.25 13.30 13.55 13.40 13.90 13.50 14.00 13.70 14.20
CIPK 12.20 12.70 12.30 12.80 12.60 13.10 13.10 13.35 13.50 13.75 13.60 14.10 13.70 14.20 13.75 14.25
DBPK 12.10 12.60 12.20 12.70 12.45 12.95 12.85 13.10 13.20 13.45 13.35 13.85 13.40 13.90 13.60 14.10
FBPK 12.25 12.75 12.40 12.90 12.70 13.20 13.15 13.40 13.40 13.65 13.55 14.05 13.65 14.15 13.85 14.35
FLAH 12.30 12.80 12.50 13.00 12.65 13.15 13.15 13.40 13.35 13.60 13.45 13.95 13.60 14.10 13.70 14.20
HBPK 12.25 12.75 12.35 12.85 12.70 13.20 13.10 13.35 13.35 13.60 13.45 13.95 13.60 14.10 13.70 14.20
HKBP 12.25 12.75 12.35 12.85 12.70 13.20 13.10 13.35 13.30 13.55 13.40 13.90 13.60 14.10 13.65 14.15
NIPK 12.30 12.80 12.55 13.05 12.80 13.30 13.15 13.40 13.35 13.60 13.40 13.90 13.45 13.95 13.50 14.00
HMBP 12.25 12.75 12.40 12.90 12.80 13.30 13.10 13.35 13.35 13.60 13.50 14.00 13.60 14.10 13.70 14.20
SAMB 12.25 12.75 12.40 12.90 12.70 13.20 13.10 13.35 13.35 13.60 13.40 13.95 13.65 14.15 13.75 14.25
MCBK 12.10 12.60 12.30 12.80 12.60 13.10 13.00 13.25 13.30 13.55 13.40 13.90 13.50 14.00 13.75 14.25
NBPK 12.25 12.75 12.35 12.85 12.70 13.20 13.05 13.30 13.20 13.45 13.40 13.90 13.60 14.10 13.70 14.20
SCPK 12.15 12.65 12.35 12.85 12.60 13.10 13.00 13.25 13.25 13.50 13.45 13.95 13.50 14.00 13.70 14.20
UBPL 12.20 12.70 12.35 12.85 12.60 13.10 13.10 13.35 13.35 13.60 13.45 13.95 13.60 14.10 13.70 14.20
AVE 12.24 12.74 12.38 12.88 12.68 13.18 13.10 13.35 13.34 13.59 13.44 13.94 13.59 14.09 13.71 14.21
Karachi Inter Bank Offered Rates (KIBOR)
Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)06/12/2010
Period AUD/USD EUR/CHF EUR/GBP EUR/JPY EUR/USD GBP/USD NZD/USD USD/CAD
1 week -0.93 0.58 -0.46 -0.05 -0.76 -0.95 -0.88 0.771 month -0.94 -0.39 -0.81 -0.53 -0.87 -0.82 -0.85 0.833 months -0.75 -0.71 -0.78 -0.36 -0.81 -0.63 -0.63 0.566 months -0.89 0.30 -0.71 -0.25 -0.90 -0.89 -0.81 0.521 year -0.62 0.71 0.31 0.62 -0.07 -0.40 -0.66 0.172 years -0.63 0.72 0.29 0.68 0.00 -0.20 -0.62 0.57
Currencies CorrelationUSD/JPY
KASB BMA ELXIR GSL ICSL JSCM AvgRate
0-7days 12.40 12.40 12.35 12.30 12.50 12.35 12.38
8-15dys 12.60 12.60 12.50 12.50 12.65 12.50 12.56
16-30dys 12.80 12.72 12.70 12.75 12.75 12.75 12.75
31-60dys 12.90 12.80 12.88 12.85 12.85 12.85 12.86
61-90dys 13.02 13.04 13.04 13.04 13.05 13.05 13.04
91-120dys 13.25 13.15 13.15 13.18 13.15 13.10 13.16
121-180dys 13.28 13.29 13.31 13.32 13.25 13.25 13.28
181-270dys 13.45 13.40 13.45 13.50 13.45 13.30 13.43
271-365dys 13.60 13.62 13.60 13.65 13.55 13.55 13.60
2-- years 13.70 13.55 13.68 13.70 13.60 13.65 13.65
3-- years 13.75 13.75 13.75 13.75 13.70 13.75 13.74
4-- years 13.85 13.80 13.77 13.78 13.75 13.79 13.79
5-- years 13.87 13.90 13.78 13.80 13.75 13.81 13.82
6-- years 13.88 13.85 13.79 13.88 13.80 13.83 13.84
7-- years 13.90 13.90 13.84 13.95 13.80 13.84 13.87
8-- years 13.95 13.96 13.89 14.00 13.80 13.86 13.91
9-- years 13.95 13.98 13.95 14.10 13.85 13.88 13.95
10--years 14.10 14.08 14.12 14.20 14.10 14.08 14.11
15--years 14.50 14.35 14.40 14.40 14.35 14.30 14.38
20--years 14.60 14.50 14.50 14.65 14.50 14.40 14.53
30--years 14.75 14.75 14.70 14.90 14.70 14.60 14.73
Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for December 06, 2010
NEW YORK: The euro fell sharplyagainst the dollar on Monday, markingits first decline in four sessions, as fearsabout euro-zone peripheral governmentdebt moved to the forefront, trumpingdovish comments made by US FederalReserve Chairman Ben Bernanke.
The weak performance of the eurocomes ahead of a meeting of euro-zonefinance ministers, who are under pres-sure to boost the size of a rescue fund tostop a debt crisis from spreading.
The euro was down 1.14 per cent at$1.3261, according to Reuters data.Traders reported an options expiry onMonday at $1.3250.
IMF chief Dominique Strauss-Kahnwill present a report, a copy of whichwas obtained by Reuters, to euro-zonefinance ministers meeting in Brussels,saying more action is needed frommember states.
This encouraged renewed selling of
the euro after a rebound late last weektook it back above $1.34, with tradersciting selling by real money accountsand sovereign names.
Euro/dol lar"has scope tomove down fur-ther, with polit-ical develop-ments and com-mitment fromeuro-zone poli-cymakers likelyto be the focus," said Paul Mackel,director of currency strategy at HSBC.
The IMF report will say the euro-zone should increase the size of its 750billion euro rescue fund and theEuropean Central Bank should boostbond buying markedly.
With the euro resuming its decline,the dollar index was up 0.5 per cent at79.814, close to its 100-day moving
average of 80.04.The dollar also bounced on a bout of
short covering as investors shrugged offcomments from US Federal Reserve
Chairman Ben Bernanke that quantita-tive easing could be bigger than esti-mated.
Fed Chairman Bernanke appeared inan interview on CBS-TV's "60 min-utes" late Sunday and communicatedhis view that it is possible that US mon-etary policymakers increase the addi-tional $600 billion in asset purchasesannounced at the last Fed meeting.
More asset purchases would be nega-tive for the dollar, but his commentsfailed to hurt the greenback.
Analysts and traders said Bernanke'scomments on QE were not too bearishgiven Friday's below-forecast jobs data.
The euro briefly rose to $1.3380 afterEuropean clearing house LCH.Clearnetreduced the margin requirement onIrish government bonds to 30 per centfrom 45 per cent of net positions of itsmargin rate.
Latest data from the Commodity andFutures Trading Commission showedcurrency speculators trimmed betsagainst the US dollar for a fourthstraight week.
The dollar was up 0.25 per cent to82.83 yen, below its session high of82.98, but climbing off Friday's three-week low of 82.52 yen and keepingwell above the Ichimoku 'cloud' bottomaround 81.70 yen. -Reuters
Euro drops sharply vs dollaras debt fears dominate
SHANGHAI: China's yuanended up against the dollar onMonday after the People'sBank of China set a highermid-point in the wake of USdollar weakness.
Dealers said they expectedthe yuan to move in a smallrange in coming days but couldappreciate 3 to 5 per cent nextyear after the Communist Partydecided that China would shiftto a prudent monetary policyfrom a moderately loose stance.
"The market widely thinksthis is relatively a kind of tight-ening policy for next year," saida dealer at a European bank inShanghai. "So the yuan willkeep gradually rising in 2011."
Ba Shusong, with theDevelopment Research Centre,a cabinet think tank, said incomments published onMonday that China wasexpected to let the yuan's effec-tive exchange rate rise in 2011under the new "prudent" mone-tary policy.
"China will increase interestrates cautiously, and it will per-
mit appropriate appreciation ofthe yuan in terms of effectiveexchange rates," Ba said.
Spot yuan closed at 6.6484versus the dollar, up fromFriday's close of 6.6633 andwas up 2.67 per cent since thePBOC announced a depeggingin mid-June.
It moved in a range of 6.6469to 6.6529, trading around theday's mid-point of 6.6515,which was stronger thanFriday's 6.6605. The mid-pointis a level from which the yuanmay rise or fall 0.5 per centagainst the dollar on a given day.
The mid-point's firmer set-ting lagged a 1.2 per cent dropin the US dollar index lastFriday, signalling that the cen-tral bank wants to let the yuantrade in a narrow range.
Offshore, one-year NDFswas at 6.5000 bid late onMonday, from Friday's close of6.4850, with implied yuanappreciation in a year's timefalling to 2.33 per cent from2.71 per cent shown on Friday.-Reuters
Yuan up in narrow tradeon stronger mid-point
LONDON: Sterling edgedhigher against a broadly softereuro on Monday as investorsfocused on euro-zone debtproblems ahead of a meetingof European finance ministers.
The euro-zone ministersmeet on Monday and will facepressure to increase the size ofa 750 billion euro ($1,006 bil-lion) safety net for crisis-hitmembers in order to halt a
debt crisis in the single curren-cy bloc.
That will be followed by ameeting on Tuesday of minis-ters from the broader 27-coun-try European Union, who areexpected formally to approvean 85 billion euro aid packagefor Ireland and discuss thereform of EU budget rules.
An IMF report obtained byReuters said the euro-zoneshould have a bigger rescuefund for member states introuble. Germany rejectedsuch a move and dismissed
calls for joint euro-zonebonds.
By 1605 GMT, the euro hadfallen 0.4 per cent to 84.70pence. Support was seenaround 84.00 pence and then83.34 pence, the low hit lastweek, traders said.
Sterling fell 0.6 per cent to$1.5685, tracking losses in theeuro versus the US currency.
Traders said concerns about
the stability of the euro-zonewould keep the single curren-cy weak and this would bene-fit the pound.
Trade-weighted sterling,which tracks the pound's per-formance against a currencybasket, rose to 80.8 onMonday, pulling away from80.6 hit late last week, itsweakest since early November.
Traders will look to theBank of England's policymeeting later this week,although analysts expect nochange in policy. -Reuters
Stg edges up vs eurobefore debt talks
SEOUL: The Taiwan dollarand the South Korean won ledgains in Asian currencies onMonday, boosted by theprospect that the US FederalReserve's quantitative easingcould extend beyond the pro-grammed limit of $600 billion.
Asia's strong economic fun-damentals compared with otherregions are expected to supportAsian currencies, analysts anddealers said. "I don't see anymajor risks here, so Asian cur-rencies will rise gradually.There are geopolitical risks inthe Korea peninsula, but fewinvestors expect a war there,"said Kim Song-yi, an economistat HSBC in Hong Kong.
The Taiwan dollar rose to
30.110, its highest level in morethan three weeks, as stops weretripped at the open. The wonrose as high as 1,131.1 per dol-lar, its highest mark since Nov23 and a level it was trading atbefore North Korea's artilleryshelled an island in the south.
South Korea started nation-wide live-fire naval exercisesdespite Pyongyang's warningsagainst conducting provocativedrills in disputed waters off thewest coast of the divided penin-sula. The local currency isexpected to find support fromforeign appetite for the country'sstocks, analysts and dealers said.
"Despite tense news, we didnot see more military clashes.So, it is more likely for the won
to go to 1,120 per dollar, break-ing through short-term resistancelines around 1,128," said JeongMy-young, a currency strategistat Samsung Futures Inc.
The ringgit gained 0.2 percent in thin trading, ahead of aMalaysian public holiday onTuesday. After a strong yearthat has pushed the ringgit upalmost 9 per cent, the upsidemay be limited, dealers said.
"It also looks like the marketdoes not want to test the centralbank at 3.08 again because thatlooks like the line in the sand,"a trader in Kuala Lumpur said.
Still, traders said they expect-ed the market to make anotherattempt to breach 3.08 beforethe end of the year. -Reuters
Asian currencies
Taiwan dlr, won up onFed view; Korea woes ease
WELLINGTON/SYDNEY: The Australianand New Zealand dollars edged back onMonday as a three-session rally drew some prof-it-taking, though both currencies held most oftheir recent gains helped by expectations ofextended stimulus in the Unites States.
The Australian dollar was hovering around$0.9880 on Monday, having surged around 1.7per cent to as far as $0.9938 on Friday in a majorturnaround from last week's $0.9535 trough.
The currency was supported by a domesticdata showing a healthy 2.9 per cent rise in jobadvertisements in November which auguredwell for an upbeat reading from the officialemployment report due on Thursday.
Analysts are looking for a solid rise of around19,000 in employment and drop in the joblessrate back down to 5.2 per cent. Such a resultwould help offset a run of softer data recentlyand keep the Reserve Bank of Australia (RBA)on inflation watch. The RBA holds its Decemberpolicy meeting on Tuesday but there is virtuallyno chance of them lifting the 4.75 per cent cash
rate after Governor Glenn Stevens said the mar-ket was reasonable in pricing in the next movearound mid-2011.
Still, the RBA's tightening bias stands in starkcontrast with the US Federal Reserve. In a tvinterview, Chairman Ben Bernanke said it wascertainly possible the central bank could buymore than $600 bln of bonds if the economy need-ed it and noted it could take four to five years forunemployment to fall to more normal levels.
The Aussie currency now faces major resist-ance around $0.9955 which marked a peak backon November 22, with support from $0.9885below which $0.9821, the 20-day moving aver-age. The kiwi was at $0.7633 in late local trade,after steadily drifting lower from opening levelsaround $0.7670. Immediate support for the kiwiwas seen at $0.7451, with resistance at $0.7566.
The Reserve Bank of New Zealand holds it pol-icy meeting on Thursday and is also expected tokeep rates unchanged at 3 per cent. The Aussiewas a touch firmer at NZ$1.2933, after earliernudging a five-week high of NZ$1.2976. -Reuters
Australian, NZD hold ontogains before policy meetings
Swiss franc
gains vs euro ZURICH: The Swiss francheld on to most of the previoussession's gains against the dol-lar on Monday and rose slight-ly against the euro, followingnews the US Federal Reservecould inject further funds intothe economy.
"Bernanke has said moreQE2 is possible. That will notsupport the dollar," InformaGlobal Markets analyst TonyNyman said, adding there hadalso been a report of theInternational Monetary Fundtelling the European CentralBank it should boost its bondbuying.
"This looks franc positive bydefault and we could see a sus-tained break below 1.30 ineuro/Swiss in the early part ofthe week," Nyman said, addingthat 1.2850 was his first majortarget.
The franc was up 0.4 per centagainst the euro compared toFriday's New York close, trad-ing at 1.3019 per euro at 0707GMT. The franc was littlemoved against the dollar at0.9759 per dollar.
The Swiss National Bank,which in June dropped itspledge to intervene in currencymarkets to combat the franc'srise against the euro, will holdits next policy review on Dec.16. -Reuters
Seen staying strong on better fundamentals
Fed Chairman Bernanke comments fails to rattle dollar
Six world powers began theirfirst talks with Iran in morethan a year on Monday, hoping
the meeting will lead to new negoti-ations over a nuclear program theWest believes is aimed at makingatomic bombs.
On the eve of the meeting inGeneva, Iran announced what itcalled a major step forward in itsnuclear work, signaling it is notabout to back down in a long-run-ning battle over what it insists arepeaceful plans for energy produc-tion.
The six powers -- Britain, China,France, Germany, Russia and theUnited States -- played down expec-tations of a major breakthrough dur-ing the Dec 6-7 discussions.Diplomats said an agreement to meetagain for more substantial talks, per-haps early next year, would be a signof progress.
"We hope that the talks and thenegotiations that started today con-tinue in a constructive way andreach a positive horizon," IranianForeign Minister ManouchehrMottaki told reporters during a visitto Athens.
Iranian nuclear negotiator SaeedJalili and European Union CatherineAshton on behalf of the six powersbroke for lunch after around two-and-a-half hours of talks, but it wasnot clear if there would be any bilat-eral meetings such as between Iranand the United States during thebreak, diplomats said.
Talks will resume in the afternoon
and probably on Tuesday.Western powers want Iran to sus-
pend uranium enrichment activity,which can produce fuel for nuclearpower reactors or provide materialfor bombs if refined to a higherdegree.
A European official said the sixpowers expected Iran to shed lighton questions about its nuclear pro-gram that had so far gone unan-swered.
"The choices are clear for Iran, itcan face growing isolation or coop-
erate," the official, who asked not tobe named, told Reuters.
IRAN REMAINS DEFIANTBut Iranian President Mahmoud
Ahmadinejad said last week the keytopic of enrichment was not on theagenda at Geneva. Ahmadinejadaccused the West of double stan-dards.
"You have a thousand A-bombs,(so) how is it that you are worriedthat Iran might be able to develop
atomic bombs in three years' time?"he asked in comments on his websiteon Monday.
"The United States launched warsin Iraq and Afghanistan, but did notuse atomic bombs because the era ofusing nuclear bombs has come to anend," he said.
Ali Baqeri, deputy head of Iran'sdelegation, said the talks would gobeyond the nuclear issue and includeregional security, Iraq, Afghanistan,drug smuggling and terrorism.
The West has tightened sanctions
on Iran in recent months, andWestern diplomats say these arehurting Iran's oil-dependent econo-my. But Baqeri denied this pressurewas having any effect.
"There is no other choice but tohold talks ... These talks can pavethe way for interaction," he toldIran's state news agency.
The United States has warned ofmore pressure and isolation ifTehran continues its uranium enrich-
ment activities. Washington says alloptions, including military, remainon the table and Iran's arch enemyIsrael has also not ruled out a mili-tary strike if diplomatic efforts fail.
Tehran's Gulf Arab neighbors arealso worried about a potentiallynuclear armed Iran and Saudi Arabiahas repeatedly urged the UnitedStates to bomb Iranian nuclear facil-ities, according to leaked U.S. diplo-matic documents.
Iran's hardline rulers, seeking torally nationalist support and distractattention from economic woes,remain defiant.
On Sunday, Iran's nuclear energychief Ali Akbar Salehi said Iranwould use domestically produceduranium concentrates, known as yel-lowcake, for the first time at a keynuclear facility, cutting reliance onimports of the ingredient for nuclearfuel.
The timing of the announcementappeared aimed at showing Tehran'sdetermination to pursue its nuclearplans before talks.
Last week's killing of an Iraniannuclear scientist in Tehran, whichIran has blamed on Western intelli-gence services, could cloud theatmosphere for dialogue in Geneva.
"Americans are worse than themost dictatorial dictators,"Ahmadinejad said. "They assassi-nate nuclear scientists because theyare not strong enough to counter theIranian nation, and think a nationwill step back with the assassinationof its loved ones."-Reuters
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Too late arealisation
At last, the people at the helm of affairshave registered what the experts have beenadvising for ages. Going through proceed-ings of meeting of the National Assemblystanding committee on water and powerreveals either those responsible for managingthe energy sector are completely ignorant ofhow the business should be conducted orthey are totally helpless before the powerfuland well connected consumers.
According to the details an official of theMinistry of Water and Power has suggestedthat keeping a check on power theft can con-siderably lower the electricity tariff and helpin bridging cost and recovery differential.Members of the standing committee vehe-mently stressed the need to control powertheft, instead of blithely passing on power tar-iff increase every month to the consumers anda member even proposed charging a fixedamount from the power consumers not payingelectricity charges.
The disclosures made by the officials ofnewly established Sukkur Electric PowerCompany (Sepco) are shocking. He said thatthe major challenge faced by Sepco includespilferage through kunda system, poor pay-ment culture, and inadequate help from lawenforcing agencies. He also informed thatemployees of Sepco were being kidnapped,vehicles snatched, and officials comingunder attack while performing their dutiesbesides frequent transfers and postings due toexternal pressure.
Any cynic may say that all these things areknown to the public and the confession by theauthorities is a blatant display of apathy andevasion of responsibilities. To begin with, thesuggestion that keeping a check on powertheft can considerably lower the electricitytariff and help in bridging cost and recoverydifferential looks extremely absurd. The actfalls under criminal negligence because theelectric utilities despite being fully aware ofthe quantum of theft have hardly taken anycorrective measures.
The proposal of charging consumers not pay-ing bills a fixed amount highlights the apathyof consumers. It is on record that consumersbelonging to certain areas have never paid thebills. It is ironical that public representativeshave also been supporting such elements andtrying to convince the government that anyattempt to collect electricity charges couldlead to civil disobedience in these areas.
For the benefit of the National Assemblystanding committee It is necessary to identi-fy the present transmission and distribution(T&D) losses which hover around 40 percent. According to sector experts these loss-es should not be more than 5 per cent andany quantum above this is nothing but pil-ferage. It could only be said with greatregret that National Electric PowerCompany (Nepra) has disappointed thenation, can the elected representatives recti-fy its bad decisions. Can they?
4Tuesday, December 7, 2010
Publisher & Editor-in-Chief: Amir A. Ashary
Editor: Shakil H. Jafri
Executive Editor: Manzar Naqvi
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Muhammad Arif
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The Financial Daily InternationalVol 4, Issue 120
During the recent visit of USPresident to India it wasensured by the clever hosts
that the Kashmir issue in any waydoes not come up on any occasion.
There are very crucial questionsthat world's leaders must considerseriously. The most important isthat when in the late 1940's the UNgave Kashmir a status of disputedterritory and right of plebiscitethen it does not remain an internalmatter of India. It has become a UNissue and an issue of all its membercountries. India in no way couldavoid it.
The only answer is that the Indiangovt and its security forces arecrossing all limits to forcibly sup-press the freedom movement inKashmir. They are afraid that theirviolations of human rights may beexposed because there are somesaner intellectuals, think tanks as
well as media analysts who arecoming up with actual realities andshowing solidarity with theKashmiris. The last to come wasIndian member of CongressShiyaam Lal that who on Mondaydemanded the freedom of Indianoccupied Kashmir.
India is helpless to take actionagainst them due to their interna-tional standing. The IndianMuslims and specially those inKashmir were expecting a lot fromObama's visit. Only one sentence intheir favor could have boosted theirmorale. But the world's largestdemocracy has a tradition of forget-ting democratic norms and humanrights when it comes to economicand military benefits with India.
Mighty-six & Iran
David Shribman
There are lessons to be learnedhere at Pearl Harbor. Don't putyour aircraft wingtip to wingtip.
Don't cluster the ships of your fleet inone harbor so closely that the group ofthem acquires the name BattleshipRow. Don't assume that a gaggle ofplanes headed your way on a quietSunday morning is a set of your ownB17s flying in from California. Do notdiscount an intercepted cable thatreveals unusual foreign interest in anAmerican military installation justbecause it is translated by a woman.
All of these are important legaciesfrom the attack on Pearl Harbor thattransformed December 7th from thelast day of the first week of the lastmonth into a date that would live ininfamy. Some 69 years after the attackon Pearl Harbor, the wounds here andon the American mainland are stilldeep, still raw. More than Antietem,more than Gettysburg, this may be,perhaps with New York's Ground Zero,the Pentagon's 9/11 memorial andPennsylvania's Flight 93 crash site, themost moving place in the nation.
Even today, December 7th is one ofonly one of five dates in American his-tory -- the others are July 4th,September 11 and November 11th and22nd that require no year in casual con-versation or formal writing.
You might not recognize the signifi-cance of August 15th, but if it is putdown as August 15, 1945, you willimmediately identify it as V-J Day. Youmay not remember August 9th, but if itis expressed as August 9, 1974, you'llknow it was the day Richard Nixon
resigned the presidency. And perhapsthe most important date in Americanhistory April 19th has been obscured inthe American mind because -- pleasedon't break my heart and tell meschoolchildren don't read this anymore-- Henry Wadsworth Longfellowopened his beloved poem by speaking,in the third line, of "the eighteenth ofApril, in Seventy-five," when PaulRevere made his ride, rather than of the19th of April, 1775, when the shotsrang out at Lexington and Concord.But you know what December 7thmeans, and so will your grandchildren.
The tragedy of Pearl Harbor beganwhen six Japanese carriers with heavyescorts sailed 4,000 miles of open seaswithout being detected by theAmericans. The modern mind asks:How can that be? The answer is sim-ple: For the same reason that theFrench did not detect the British sol-diers mounting the Plains of Abrahamin 1759 before the Battle of Quebec, orthe British did not detect GeorgeWashington's forces preparing theirChristmas crossing of the Delaware in1776. The modern mind forgets therewere no satellites then.
The age of the satellite wouldn'tdawn for another 16 years. For theentire sweep of history until 1957,humankind slept under only naturalsatellites like the moon, or planets orstars, which is why the launching ofSputnik, October 4th another signaldate for you, was so disquieting toAmericans, and why Soviet leaderNikita Khrushchev knew how unsettledhe would make his ideological rivalsby braying that "America sleeps undera Soviet moon."
But in those 16 years -- from PearlHarbor to Sputnik -- the world wouldchange at a dizzying rate. The UnitedStates would be transformed into thestrongest military power and mostpowerful banker in the history of theglobe. Soviet Russia would be trans-formed from a largely agrarian despot-ism into a mighty industrial power withnuclear weapons and rocket boosterscapable of achieving Earth orbit (butnot, as Richard Nixon would makeclear in his blustery "Kitchen Debate"in Moscow two years later, able to pro-duce a decent dishwasher). The ColdWar would break out with crises inGreece, Korea, Vietnam, Hungary andelsewhere. A new scramble for influ-ence would begin in the Caribbean andAfrica. McCarthyism would rise inAmerica and a re-examination ofStalinism would roil the Soviet Union.
In those 16 years, the United Stateswould end segregation in the armedforces and begin to integrate itsschools, lunch counters and publicaccommodations. John F. Kennedywould be transformed from an obscureofficer in the Motor Torpedo BoatSquadron Training Center into anational political figure. The Dodgers,pennant winners in Brooklyn whenPearl Harbor was attacked, would beLos Angeles-bound by the timeSputnik was launched. The BritishEmpire would be gone, Israel would beborn. So, too, would many other newnations, some of whose names, likeTransjordan and Ceylon, already havedisappeared. Within a month of PearlHarbor, Country Joe McDonald andCharlie Rose would be born. Within amonth of Sputnik, Louis B. Mayer and
Christian Dior would be dead. The surprise attack still aches in the
American memory. But it spawned agreat American awakening. So the nexttime you think that you are living in anera of unprecedented change, ponderhow much happened in the 16 yearsafter Pearl Harbor. Consider that pro-grammable computers have beenaround for 74 years, computer gameshave existed for 48 years, Ethernet net-working has been here for 37 years,IBM first produced a home PC some29 years ago, Macintosh was available26 years ago and that Windows cameout 25 years ago.
The great lesson of Pearl Harbor aswe approach its 70th anniversary ismore than military. Never again willwe present so easy a target to potentialadversaries. But now we need to reviseour perspective, and consider that forall of the great change we are experi-encing now, the greatest change in ourhistory may have begun when 354Japanese planes arced toward Hawaii,destroying 188 American aircraft andsinking or damaging 18 American war-ships in a great American tragedy andmilitary defeat.
"Pearl Harbor continues to haunt itssurvivors, as well as their descen-dants," Thurston Clarke wrote in theevocative volume "Pearl HarborGhosts." But as we consider what hap-pened here, let us remember, too, howalmost every ship, though not the USSUtah, USS Arizona or USS Oklahomawas put back into service, and thatAmerica recovered, and then some.Remember Pearl Harbor, but rememberits other lessons, as well.
Courtesy: Uexpress
Remember Pearl Harbor,but other lessons as well
The surprise attack still achesin the American memory. But it
spawned a great American awakening.So the next time you think that you are
living in an era of unprecedented change,ponder how much happened in the 16
years after Pearl Harbor
“
Kashmiris stillwaiting for justice
The shortage of sugar hasimposed hardship on ordi-nary citizens who are forced
to pay exorbitant and sky-riseprices for this essential commodity.
According to reports issued byTCP sufficient quantity of sugarwas available to fulfill the needs ofpublic, but God-knows what hap-pened to sugar as it vanished frommarket, either it evaporated or whatcommon man is yet to find ananswer to this.
This happened due to weak man-agement and poor co-ordinationbetween government and privatesector. This raised sugar prices to analmost impossible amount of Rs120per kg.
I wonder what the government isdoing for reducing the prices(except the blame game). I hopethat the owners of the sugar mills
may reduce their profit and alsoreduce the prices of sugar, but theproblem is that most of the ownersof these sugar mills are in govern-ment. On the other hand drasticflood hit half of the Pakistan in themonths of August and September.This flood destroyed many cropsincluding sugar cane. These all ele-ments collectively make the pricesof sugar very high making it verydifficult for ordinary peoples to gethold of this essential commodity.This issue is very serious and itsstakes at national level are veryhigh. Instead of playing the usualblame game, a solution to it that isacceptable to all people has to befound very quickly to provide reliefto the general public.
Let’s prayfor sugar…
Itrat Fatima
Department of Economics
University of KarachiAli Zhoraiz Jaffri
Karachi
FERTILISER000 tonnesUrea Offtake (Jan to Sep 10) 4,190Urea Offtake (Sep 10) 324Urea Price (Rs/50 kg) 851DAP Offtake (Jan to Sep 09) 680DAP Offtake (Sep 10) 226DAP Price (Rs/50 kg) 2,628
AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Oct 10) 26,842
Sales (July 10 to Oct 10) 25,279
Production (Octy 10) 7,311
Sales (Oct 10) 7,459
INDUS MOTOR COProduction (July 10 to Oct 10) 17,013
Sales (July 10 to Oct 10) 16,622
Production (Octy 10) 4,827
Sales (Oct 10) 4,830
HONDA ATLAS CARProduction (July 10 to Oct 10) 5,481
Sales (July 10 to Oct 10) 5,172
Production (Octy 10) 1,514
Sales (Oct 10) 1,340
DEWAN FAROOQ MOTORSProduction (July 10 to Oct 10) 186
Sales (July 10 to Oct 10) 70
Production (Octy 10) 0
Sales (Oct 10) 18
BANKING SECTORScheduled bank (Rs in mn)Deposit (Nov 6,10) 4,729,932
Advances (Nov 6,10) 3,011,868
Investments (Nov 6,10) 1,897,426
Spread (Sep 10) 7.57%
OIL MARKETING CO(000 tons)MS (Jul 10 to Oct 10) 744
MS (Oct 10) 198
Kerosene (Jul 10 to Oct 10) 53
Kerosene (Oct 10) 15
JP (Jul 10 to Oct 10) 452
JP (Oct 10) 122
HSD (Jul 10 to Oct 10) 2,182
HSD (Oct 10) 664
LDO (Jul 10 to Oct 10)) 22
LDO (Oct 10) 6
Fuel Oil (Jul 10 to Oct 10) 3,086
Fuel Oil (Oct 10) 854
Others (Jul 10 to Oct 10) 3
Others (Oct 10) 1
PRICES (Ex-Refinery) RsMS (1 Nov 10) 44.53
MS (1 Oct 10) 40.71
MS % Chg 9.38%
Kerosene (1 Nov 10) 51.25
Kerosene (1 Oct 10) 47.31
Kerosene % Chg 8.33%
JP-1 (1 Nov 10) 51.48
JP-1 (1 Oct 10) 47.54
JP-1 % Chg 8.29%
HSD (1 Nov 10) 54.24
HSD (1 Oct 10) 50.38
HSD % Chg 7.66%
LDO (1 Nov 10) 49.51
LDO (1 Oct 10) 46.13
LDO % Chg 7.33%
Fuel Oil (1 Nov 10) 42,046
Fuel Oil (1 Oct 10) 39,276
Sector Updates
Symbol Close Vol (mn)DSFL 2.77 26.28 LOTPTA 12.78 12.99 NPL 16.30 11.32 NBP 69.32 9.50 TRG 3.87 8.36
Symbol Close ChangeWYETH 1,049.00 42.75 RMPL 2,001.65 29.65 MCB 217.27 9.20 SIEM 1,307.10 7.10 SHEZ 97.59 4.64
Symbol Close ChangeNESTLE 2,166.75 -20.51ULEVER 4,085.50 -19.5LAKST 300.52 -15.81SRVI 259.09 -13.63INDU 254.24 -8.18
Plus 175Minus 196Unchanged 25
Top 5 Volume Leaders
Major Losers
Major Gainers
KSE-100 Index
LSE-25 Index
ISE-10 Index
Active Issues
Tuesday, December 7, 2010 5
Dhiyan
Bullishness is likely to continue on these: expected MTS launch inJanuary, hopes of good corporate results in oil and banking sectors, andoverall improved political/economic situation in the country. Therefore, ifindex manages to sustain its key psychological barrier of 11,500 points thenit can touch 11,800-12,000 points in the coming weeks. Further, improvedeconomic and political situation would also force foreign investors to con-tinue buying. Investors are advised to go for 1st tier banking stocks. Theycan also invest in power and fertiliser sectors while they should hold theirpositions in oil stocks. Market would be dull today.
Kashif Mustafa, NAMCO
Muhammad Ahsan Rasheed, Director Research & Marketing AMJ Growth
Some range bound activities are expected in the marketwhere index would be moving between 11,330 and 11,500points in the coming days. Here, dips would be an opportunityfor the investors. Foreign inflows would turn out to be themajor support for the market, while upcoming corporateresults would also trigger trade. Investors must avail the trad-ing opportunities in cement and banking stocks with their stoplosses. Market would move both ways today.
TWO-WAY DULL-DAY TODAY
Opening 11,406.66
Closing 11,440.07
Change 33.41
% Change 0.29
Turnover (mn) 170.50
Opening 3,568.84 Closing 3,604.28 Change 35.44% Change 0.99Turnover (mn) 8.77
Opening 2,901.04
Closing 2,902.98
Change 1.94
% Change 0.07
Turnover (mn) 0.18
KARACHI: A trader reacts in front of an electronic board displaying stock prices during a trading ses-sion inside the trading hall.-Reuters
HONG KONG/SHANGHAI:
China shares edged higher onMonday driven by energystocks as crude oil prices held ata two-year high, while a strongtrading debut by Dalian Portsupported investor optimism.
Hong Kong shares, whichhad traded in positive territoryfor most of the day, finishedslightly lower as a mild selloffin financials dragged thebenchmark Hang Seng into redon a low turnover day.
The Hang Seng closed down0.4 per cent, though oil majorCNOOC rose 2.4 per cent to arecord high, and conglomerateSwire Pacific was up 3.6 percent, helping to limit losses.
Turnover was thin, suggest-ing investors were taking acautious approach to riskyassets after a weak jobs reportand lingering eurozone con-cerns prompted investors totake some profits after lastweek's 2 per cent rise.
Shanghai's key stock indexrecouped earlier losses and rose0.5 per cent with investors
encouraged by more clarity onthe government's monetary pol-icy. The index is down about 13per cent this year.
"China will likely raise inter-est rates or reserve require-ments which could limit upsidebut once we go through sever-al rises in reserve rates andinterest rates, inflation willdrop lower next year, helpingthe broader market to rise,"said Li Feng, manager of pro-prietary trading at FortuneSecurities in Shenzhen.
The Communist Party's lead-ers said China will switch to aprudent monetary policy, from amoderately loose stance, a trendthat was already priced in by thestock market, analysts said.
The operator of north China'sbiggest port, Dalian Portjumped 38 per cent on its firstday of trade after it raised 5.7billion yuan ($856 million) inits downsised Shanghai publicoffering.
Oil major CNOOC rose torecord high, the biggest boostto the broader benchmark, as
crude oil prices were supportedby a weak dollar and expecta-tions that a cold spell in the andEurope would underpindemand.
With a lack of local Asianeconomic data this week untilChina's trade data due onFriday, IPOs, new listings andmerger activity would keepinvestors focused on theresources sector, said traders atStandard Chartered.
Conglomerate Swire Pacific,which has interests in property,shipping and aviation, rose 3.6per cent, inching toward arecord high, and was the topgainer on the Hang Seng.
"I would think with propertyprices at peaks and with thegovernment clamping down,this would be a good time forthem to get the IPO of theirproperty unit out of the way,"said Martin Haigh, head oftrading at Standard Charteredin Hong Kong.
Swire scrapped plans for a$2.7 billion listing of its proper-ty unit in May.-Reuters
China higher on energyshares; Hong Kong slips
Nikkei falls; volumelowest since late Oct
TOKYO: Japan's Nikkei slipped on Monday after weak US jobsdata and a renewed focus on US quantitative easing pushed thedollar down against the yen, spurring profit-taking in Tokyostocks after they hit a six-month high last week.
But overseas fund operators and Japanese retail investors werelooking to buy on dips, limiting losses for the Nikkei, analysts said.
Tokyo stocks traded in a narrow range, with volume falling to thelowest since late October, as investors took a wait-and-see stance amida lack of fresh market incentives, analysts said. See # 15 Page 11
MUMBAI: Indian sharesnotched a 0.1 per cent gain onMonday as investors continuedto be optimistic about outlookfor the world's second-fastestgrowing major economy.
However, they ended off highsas European shares brieflyslipped down on caution aheadof the outcome of a meeting ofeuro zone finance ministers. Theministers meet on Monday afteran 85 billion euro aid packagefor Ireland failed to calm finan-cial markets.
Tata Steel , world's seventh-largest steelmaker by outputsurged 3.7 per cent after globalminer Rio Tinto made a $3.5 bil-lion bid approach for Africa-focused Riversdale Mining .
The Indian steelmaker is oneof the three major stake holdersin Riversdale.
"Tata's 24 per cent stake wouldbe valued at $840 million at thecurrent bid price of 38 rupees pershare, and we believe a counterbid is likely which should beeven more positive for Tata," J.P.Morgan analysts said in a note.
Banks tumbled on fears mar-gins could be hit after StateBank of India said it will hikedeposit rates with effect fromTuesday.
Top lender State Bank of Indiaclosed 3.9 per cent lower at2,952.85 rupees.
The 30-share BSE Index rose0.07 per cent, or 14.38 points, to19,981.31 points, with 18 of itscomponents closing in the green.
"With economic fundamentals
in place and growth on track,India is going to stay an attrac-tive bet," said Rakesh Rawal,head of private wealth manage-ment at Anand Rathi.
India's economy had expanded8.9 per cent in the Septemberquarter, quicker than expected byeconomists, and a private surveylast week showed manufacturingactivity in November grew at itsfastest pace in six months.
"Emerging markets at largehave been attracting goodinflows. Ultimately, investorsput in money where they can seegrowth," Rawal said.
Foreign funds invested $29.2billion in Indian equities so farin 2010, driving the benchmarkindex 14.4 per cent higher.
Optimistic metal prices out-look also pushed metal makershigher, dealers said.
Technical indicators suggestedcopper prices could rally above$9,000 a tonne in the next forty-eight hours, with the marketending a consolidation phase,Reuters technical analyst WangTao said.
Non-ferrous metals producerSterlite Industries and alumini-um maker Hindalco gained 3.7per cent and 2.7 per cent, respec-tively. Market breadth turnednegative in late trade withdeclining shares beating advanc-ing ones in a ratio of 1.4:1 onrelatively lower volume of 337million shares.
The 50-share NSE indexclosed barely changed at5,992.25.-Reuters
Indian shares up0.1pc; SBI falls;Tata Steel soft
Nawaz Ali
KARACHI: Continued off-shore interest over higher inter-national oil prices kept KarachiStock Exchange (KSE) in thegreen zone on Monday.
The benchmark KSE 100-Index ended 33 points up at11,440 points while KSE 30-Index gained 67 points andKSE All Share Index grew by19 points to close at 11,061 and7,955 points respectively.
"Foreign fund managers' per-sistent support kept the index ina positive territory throughoutthe trading session", said SamarIqbal, equity dealer at ToplineSecurities.
NCCPL data showed foreign-ers net-bought equities worth$3.44 million on Monday mak-ing up December's total to$24.23 million so far.
Local investors kept trim-ming their positions fearing abig correction as the indextouched new highs, Samarsaid.
Following a heavy buying bythe foreigners in the last ses-sion, market started the day ona positive note and remainedthere till the closing bells asforeigners were active mainly
in banking and OGDC antici-pating good upcoming corpo-rate results . Further, the risinginternational oil prices crossing$89 a barrel too triggered thebuying activity. Thereforeindex touched an intra-day highof 11,485 points (+ve 79points) but then witnessedsome profit taking particularlyby the local investors reducingthe green numbers. Thus, indexended the session with someclipped gains.
Local investors mainly stayedon the selling side where banks,NBFCs and mutual funds did anet-buying of $3.01, $1.39 and$0.81 million respectively.
Investor participation wit-nessed some decline as 170.5million shares traded in theoverall market - a decline of31.5 million shares as com-pared to a turnover of 202 mil-lion shares on Friday.
Dewan Salman stood as thevolume leader with 26.28 mil-lion shares followed by LottePakistan with 12.99 millionshares and NPL with 11.32 mil-lion shares.
Out of total 396 active issues196 declined and 175 advancedwhile 25 issues remainedunchanged.
KSE putson greennumbers
FTSE hits3-wk high,buoyed by
the oil stocksLONDON: Britain's top shareindex closed higher onMonday, buoyed by oil stocksafter crude reached a two-yearpeak, while banks fell on fearsover euro zone debt as EU min-isters met to discuss ways ofpreventing debt contagion.
The FTSE 100 ended up24.96 points, or 0.4 per cent, at5,770.28, for its highest closesince Nov. 15 after a choppysession which saw the indexdip to 5,728.46.
Integrated oil stocks were thestandout gainers after the crudeprice neared $90 earlier in thesession.
Analysts said cold weather inEurope and in parts of theUnited States should limit thedownside for prices because ofgreater heating oil demand.
But some weakness was seenamong risk sensitive banks,with investors rattled afterMoody's Investors Service cutHungary's credit rating.
Euro zone finance ministersmeeting on Monday faced IMFpressure to increase the size ofa 750 billion euro ($1,006 bil-lion) safety net for debt-strick-en members to halt contagionin the single currency bloc.
"The UK market does appearto be outperforming many ofthe other continental Europeanmarkets, which perhaps sug-gests that the UK's getting aslight boost from not beingwithin the euro zone," saidPeter Dixon, economist atCommerzbank.
"I suspect the Europeanfinancial ministers' meeting is
See # 16 Page 11
US stocks mid-morning
Eurozoneconcernsweigh on
Wall StreetNEW YORK: US stocksdipped on Monday withinvestors taking profits andlooking for further action fromEuropean officials to prevent adebt crisis from spreading.
Eurozone finance ministerswere set to meet amid pressureto increase the size of a �750bn($1006 billion) safety net fordebt-stricken members. ButGermany rejected any suchmove.
"Even if Germany gets onboard, does Germany becomethe benefactor of all ofEurope?" said Nick Kalivas,senior equity index analyst atMF Global in Chicago. "Is itpolitically and economicallyviable for the euro?"
The euro fell, pressuringequities. Stocks and the eurohave moved in tandem oflate, with the euro looked atas a proxy for debt con-cerns.
The Dow Jones industrialaverage slipped 26,22 points,or 0,23 per cent, to 11355,87.The Standard & Poor's 500Index eased 3,33 points, or 0,27per cent, to 1221,38. TheNasdaq Composite Index wasoff 4,65 points, or 0,18 percent, to 2586,81.
Technology shares limiteddeclines after positive broker-age comments on CiscoSystems Inc and CognizantTechnology Solutions Corp.Cisco rose 1,8 per cent to$19,41 after Oppenheimerraised the stock to "outper-form," and Cognizant gained2,2 per cent to $70,86 afterGoldman Sachs boosted it to"buy."
Goldman Sachs AssetManagement Chairman JimO'Neill gave a bullish viewon equities at the ReutersInvestment OutlookSummit, saying global equi-ty markets are likely to seegains of up to 20 per centthrough 2011.-Reuters
Mostly up; Foreign buyingboosts Jakarta, Manila
South East Asian stocks
Energy firms lift Europeshares; debt fears lingers
ANNOUNCEMENTS
Company Period Div/Bon/Right PAT (Rs in mn) EPS(Rs)
TRG Pakistan Ltd. Yearly - -1,616.83 -4.20
TRG Pakistan Ltd. (CONSOLIDATED)Yearly - -1,060.70 -2.33
Tuesday, December 7, 20106
Volume 170,500,196
Value 5,406,823,975
Trades 75,441
Advanced 175
Declined 196
Unchanged 25
Total 396
Current 7,955.66
High 7,989.93
Low 7,935.97
Change h19.69
Current 11,440.07
High 11,486.01
Low 11,406.66
Change h33.41
Current 11,061.17
High 11,076.46
Low 10,988.42
Change h67.55
Market KSE 100 Index All Share Index KSE 30 Index
Current 18,107.21
High 18,250.43
Low 18,085.55
Change i35.27
KMI 30 IndexSymbolsAlert ! Unusual Movements
Technical AnalysisFundamental Highlights
As on Dec 31, 2009
Meezan Bank Limited
MEBL closed up 0.23 at 15.99. Volume was 277 per cent above aver-
age (trending) and Bollinger Bands were 18 per cent wider than nor-
mal. The company's profit after taxation stood at Rs994.738 million
which translates into an Earning Per Share of Rs1.42 for the nine
months of current calendar year (9MCY10).
MEBL is currently 2.7 per cent above its 200-day moving average and
is displaying an upward trend. Volatility is relatively normal as com-
pared to the average volatility over the last 10 trading sessions.
Volume indicators reflect very strong flows of volume into MEBL (bull-
ish). Trend forecasting oscillators are currently bullish on MEBL.
RSI (14-day) 60.30 Total Assets (Rs in mn) 124,181.73
MA (10-day) 15.59 Total Equity (Rs in mn) 9,184.46
MA (100-day) 15.01 Revenue (Rs in mn) 10,102.06
MA (200-day) 15.57 Interest Expense 4,969.92
1st Support 15.80 Profit after Taxation 1,025.35
2nd Support 15.60 EPS 09 (Rs) 1.710
1st Resistance 16.15 Book value / share (Rs) 13.81
2nd Resistance 16.30 PE 10 E (x) 8.45
Pivot 15.95 PBV (x) 1.16
Technical AnalysisFundamental Highlights
As on Jun 30, 2009
TRG closed down -0.34 at 3.87. Volume was 210 per cent above aver-
age (trending) and Bollinger Bands were 53 per cent narrower than
normal. The company's loss after taxation stood at Rs1.398 million
which translates into a Loss Per Share of Rs0.004 for the 1st quarter
of current fiscal year (1QFY11).
TRG is currently 7.7 per cent below its 200-day moving average and
is displaying a downward trend. Volatility is extremely high when com-
pared to the average volatility over the last 10 trading sessions.
Volume indicators reflect volume flowing into and out of TRG at a rel-
atively equal pace. Trend forecasting oscillators are currently bearish
on TRG.
RSI (14-day) 35.90 Total Assets (Rs in mn) 2,549.61
MA (10-day) 4.16 Total Equity (Rs in mn) 2,509.06
MA (100-day) 3.96 Revenue (Rs in mn) 28.92
MA (200-day) 4.21 Interest Expense 0.10
1st Support 3.70 Profit after Taxation 766.33
2nd Support 3.55 EPS 09 (Rs) 1.988
1st Resistance 4.10 Book value / share (Rs) 6.51
2nd Resistance 4.35 PE 10 E (x) -
Pivot 3.95 PBV (x) 0.59
TRG Pakistan Limited
Technical AnalysisFundamental Highlights
As on Dec 31, 2009
WTL closed up 0.04 at 2.66. Volume was 6 per cent above average
and Bollinger Bands were 23 per cent narrower than normal. The com-
pany's loss after taxation stood at Rs744.23 million which translates
into a Loss Per Share of Rs0.86 for the nine months of current calen-
dar year (9MCY10).
WTL is currently 21.7 per cent below its 200-day moving average and
is displaying a downward trend. Volatility is extremely low when com-
pared to the average volatility over the last 10 trading sessions.
Volume indicators reflect moderate flows of volume into WTL (mildly
bullish). Trend forecasting oscillators are currently bearish on WTL.
RSI (14-day) 54.73 Total Assets (Rs in mn) 17,566.02
MA (10-day) 2.64 Total Equity (Rs in mn) 11,379.05
MA (100-day) 2.66 Revenue (Rs in mn) 8,408.28
MA (200-day) 3.41 Interest Expense 523.03
1st Support 2.56 Loss after Taxation (490.82)
2nd Support 2.53 EPS 09 (Rs) (0.570)
1st Resistance 2.68 Book value / share (Rs) 13.22
2nd Resistance 2.77 PE 10 E (x) -
Pivot 2.65 PBV (x) 0.20
WorldCall Telecom Limited
Technical AnalysisFundamental Highlights
As on Sep 30, 2009
DWSM closed up 0.19 at 2.88. Volume was 769 per cent above aver-
age (trending) and Bollinger Bands were 92 per cent wider than nor-
mal. The company's loss after taxation stood at Rs205.486 million
which translates into a Loss Per Share of Rs5.63 for the nine months
of current calendar year (9MFY10).
DWSM is currently 29.5 per cent above its 200-day moving average
and is displaying an upward trend. Volatility is extremely high when
compared to the average volatility over the last 10 trading sessions.
Volume indicators reflect very strong flows of volume into DWSM (bull-
ish). Trend forecasting oscillators are currently bullish on DWSM.
RSI (14-day) 66.83 Total Assets (Rs in mn) 6,337.59
MA (10-day) 2.34 Total Equity (Rs in mn) (96.44)
MA (100-day) 1.89 Revenue (Rs in mn) 2,439.05
MA (200-day) 2.09 Interest Expense 297.87
1st Support 2.64 Loss after Taxation (233.58)
2nd Support 2.33 EPS 09 (Rs) (6.397)
1st Resistance 3.16 Book value / share (Rs) (2.64)
2nd Resistance 3.37 PE 10 E (x) -
Pivot 2.85 PBV (x) (1.09)
Dewan Sugar Mills Limited
OIL AND GAS
Performance of SR Oil and Gas Index
Open High Low Close Change % Change
1,476.90 1,488.78 1,470.32 1,475.03 -1.87 -0.13
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
6,484,625 - - 65,194.15 mn 1,155,889.81 mn 1,476.90
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
10.94 3.56 32.54 55.94 5.11 1,457.31
Attock Petroleum 691 5.60 323.69 326.50 321.75 323.36 -0.33 156458 374.20 287.99 250 - 300 20
Attock Refinery 853 6.62 123.50 125.30 117.53 118.10 -5.40 2942732 137.20 78.51 - - - -
BYCO Petroleum 3921 - 11.92 12.15 11.82 11.89 -0.03 976901 12.49 10.00 - - - -
Mari Gas Company 735 16.25 119.25 122.60 119.11 119.96 0.71 116730 128.90 106.00 32.17 100B 31 -
National Refinery 800 3.91 266.00 270.50 262.01 264.11 -1.89 89943 275.40 189.08 125 - 200 -
Oil & Gas Development 43009 11.26 166.08 167.05 166.00 166.49 0.41 1133032 167.35 141.60 82.5 - 55 -
Pak Petroleum 11950 8.22 202.37 203.90 201.51 202.02 -0.35 455397 214.10 168.70 130 20B 90 20B
Pak Oilfields 2365 6.46 275.19 277.80 273.12 273.73 -1.46 1078028 277.90 219.05 180 - 255 -
Pak Refinery Limited 350 - 92.47 97.09 91.70 97.09 4.62 31605 97.09 48.26 - - - -
P.S.O 1715 4.81 286.59 289.10 284.00 284.15 -2.44 437983 292.15 243.55 50 - 80 -
Shell Gas LPG 226 - 36.78 37.89 36.20 36.55 -0.23 1318 40.28 28.05 - - - -
Shell Pakistan 685 10.25 197.74 201.00 197.00 199.79 2.05 41399 204.40 182.05 330 - 40 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
PERSONAL GOODS
Performance of SR Personal Goods Index
Open High Low Close Change % Change
980.94 993.69 975.01 979.06 -1.89 -0.19
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
12,954,240 - - 47,070.70 mn 128,537.83 mn 980.94
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.49 0.56 8.64 16.68 2.57 970.48
(Colony) Thal 56 - 0.91 1.10 0.81 0.81 -0.10 2001 2.00 0.52 - - - -Amtex Limited XD 2415 10.48 4.62 4.75 4.57 4.61 -0.01 176841 18.65 4.40 - - 30 -Artistic Denim 840 5.85 20.60 21.40 21.00 21.06 0.46 2021 24.05 18.00 20 - 20 -Azam Textile 133 0.34 2.65 2.50 2.00 2.45 -0.20 25002 3.45 1.35 - - 7.5 -Azgard Nine 4493 - 11.38 11.54 10.99 11.02 -0.36 4255681 12.32 9.02 - - - -Bannu Woolen XD 76 0.45 12.78 13.30 12.60 12.72 -0.06 10710 14.50 7.80 - - 20 -Bata (Pak) 76 5.31 643.71 648.00 635.00 640.35 -3.36 1277 747.48 436.00 120 - - -Chakwal Spinning 400 0.48 1.15 1.45 1.10 1.10 -0.05 3004 2.59 0.56 - - 5 -Chenab Limited 1150 - 3.14 3.29 3.17 3.19 0.05 41969 3.95 3.00 - - - -Colony Mills Ltd 2442 3.77 2.45 2.58 2.32 2.41 -0.04 10774 3.33 2.26 - - - -Crescent Fibres Ltd 124 0.65 12.99 13.99 12.00 13.99 1.00 5005 18.35 8.41 - - 10 -D S Ind Ltd 600 - 1.93 2.07 1.89 1.91 -0.02 87180 2.37 1.44 - - - -Data Textile 99 - 0.64 0.50 0.21 0.35 -0.29 203 0.90 0.02 - - - -Dawood Lawrencepur 514 45.59 38.52 39.10 38.75 38.75 0.23 3620 44.50 36.10 - - 5 -Dewan Farooque Spin. 600 4.11 5.11 5.10 5.10 5.10 -0.01 1000 8.00 2.05 - - - -Dewan Khalid Textile 57 0.19 2.45 2.45 2.45 2.45 0.00 5000 2.90 0.26 - - - -Dewan Mushtaq Textile 34 0.16 4.25 5.25 4.25 5.25 1.00 1400 6.88 1.60 - - - -Dewan Textile 135 - 3.80 4.80 4.80 4.80 1.00 500 8.00 3.80 - - - -Ellcot Spinning 110 0.62 20.50 21.25 20.30 20.30 -0.20 1003 25.45 17.21 7.5 - 35 -Fazal Cloth 188 0.97 48.98 51.40 51.24 51.40 2.42 700 56.90 41.00 - -100SD -Gadoon Textile XD 234 0.54 47.99 49.99 49.89 49.89 1.90 5000 52.50 34.65 - - 70 -Gulistan Spinning 146 1.36 6.51 7.20 5.58 7.15 0.64 3274 8.86 5.01 - 10B 10 -Hira Textile Mills Ltd. 716 0.78 4.00 4.47 4.04 4.15 0.15 291835 4.88 3.35 - - 10 -Ibrahim Fibres 3105 3.12 38.00 39.90 39.70 39.70 1.70 1000 40.41 34.05 - - 20 -ICC Textile 100 - 1.01 1.49 0.99 1.01 0.00 16956 1.85 0.30 - - - -Ideal Spinning 99 0.38 4.15 5.00 3.63 4.52 0.37 68451 5.00 2.02 - - - -Idrees Textile 180 3.37 3.05 3.10 3.10 3.10 0.05 1000 5.35 2.60 - - 10 -J K Spinning 184 1.04 5.85 6.85 5.02 6.82 0.97 52323 9.90 4.05 - - 20 5BJanana D Mal 43 0.24 14.40 14.75 14.65 14.75 0.35 6200 20.50 9.95 - - - -Kohinoor Ind 303 - 1.61 1.64 1.43 1.46 -0.15 77204 1.94 1.01 - - - -Kohinoor Mills 509 - 3.17 2.96 2.20 2.96 -0.21 170 3.79 1.52 - - - -Leather Up 60 2.02 1.75 1.70 1.70 1.70 -0.05 500 3.00 1.10 - - - -Mehmood Textile 150 0.70 57.00 59.80 57.00 57.00 0.00 144 68.80 51.46 4050.2257B 60 -Mian Textile 221 - 0.62 0.70 0.55 0.55 -0.07 801 0.98 0.01 - - - -Mukhtar Textile 145 - 0.39 0.40 0.14 0.40 0.01 6181 0.95 0.14 - - - -Nishat (Chunian) 1596 1.86 22.93 23.18 22.30 22.39 -0.54 1057297 25.14 15.66 - 50R 15 -Nishat Mills 3516 5.24 62.38 62.28 60.91 61.04 -1.34 5530945 63.18 42.69 20 - 25 45RPak Synthetic 560 2.41 7.12 7.45 7.00 7.12 0.00 22501 7.48 5.16 12.5 - - -Paramount Spinning 174 0.79 10.43 10.84 10.20 10.76 0.33 7381 11.25 6.00 - 10B 10 10BPremium Textile 62 0.44 29.00 28.00 28.00 28.00 -1.00 4000 31.03 25.71 7.5 - 50 -Prosperity 185 1.07 14.50 15.50 13.77 14.00 -0.50 6093 20.50 12.51 20 - 30 -Ravi Textile 250 - 1.34 1.58 1.35 1.52 0.18 688959 2.38 1.29 - - - -Reliance Weaving 308 0.63 8.61 9.59 9.09 9.09 0.48 23350 12.00 8.01 - - 25SD -Rupali Poly 341 4.43 35.37 36.10 35.30 35.30 -0.07 624 37.25 31.25 40 - 40 -Saif Textile 264 0.35 4.50 5.20 4.30 4.35 -0.15 15793 6.85 2.01 - - - -Sally Textile 88 0.21 3.82 4.25 4.00 4.25 0.43 232 6.20 3.30 - - 10 -Salman Noman 42 1.26 2.32 2.98 2.98 2.98 0.66 1850 3.11 1.30 - - - 5BSargoda Spinning 312 0.45 2.15 2.35 2.26 2.30 0.15 8509 2.50 0.50 - - 5 -Saritow Spinning 133 0.36 2.68 2.35 2.20 2.20 -0.48 22154 2.99 1.10 - - - -Service Ind 120 8.87 272.72 276.50 259.09 259.09-13.63 43247 276.50 169.00 200 - - -Shadab Textile 30 0.37 14.09 15.09 13.09 13.11 -0.98 2600 15.09 7.56 - - 10 -Shahpur Textile 140 0.56 0.50 0.61 0.29 0.40 -0.10 13801 1.90 0.18 - - - -Shahtaj Textile 97 - 17.67 17.97 17.35 17.36 -0.31 1433 21.90 15.61 20 - 45 -Shield Corp 39 11.08 91.78 90.00 87.20 90.00 -1.78 943 95.55 43.29 - 30B 10 -Sunrays Textile 69 0.55 36.70 36.00 36.00 36.00 -0.70 990 36.70 30.03 10 - - -Tata Textile 173 0.33 33.90 35.55 32.21 34.40 0.50 503 35.55 15.00 - - 25 -Thal Limited 307 4.44 102.97 104.50 102.80 103.88 0.91 236793 112.80 86.50 20 20B 80 20BTreet Corp 418 8.94 59.10 60.00 56.15 56.15 -2.95 96539 60.50 37.20 - - - -Zil Limited 53 3.51 52.50 52.99 52.00 52.51 0.01 1626 55.00 33.00 40 10B 35 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
HOUSEHOLD GOODS
Performance of SR Household Goods Index
Open High Low Close Change % Change
1,084.12 1,086.78 1,075.43 1,079.90 -4.22 -0.39
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
80,876 - - 3,763.71 mn 5,045.71 mn 1,100.42
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.71 0.29 10.64 6.27 2.31 1,079.90
Pak Elektron 1174 3.45 13.66 13.85 13.55 13.69 0.03 43667 15.43 12.82 - 10B - 10B
Tariq Glass Ind 231 1.95 16.12 16.90 16.20 16.31 0.19 37195 18.80 14.60 - - 17.5 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FOOD PRODUCERS
Performance of SR Food Producers Index
Open High Low Close Change % Change
1,593.94 1,615.28 1,564.00 1,588.17 -5.77 -0.36
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
465,824 - - 11,335.33 mn 209,988.84 mn 1,593.94
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
35.11 10.64 30.30 30.57 0.87 1,572.34
Bawany Sugar 87 - 2.55 3.00 3.00 3.00 0.45 1100 3.49 0.85 - - - -Chashma Sugar 287 1.00 13.00 13.25 12.25 12.40 -0.60 505 15.47 8.50 - - - -Clover Pakistan 94 11.56 67.38 70.74 70.74 70.74 3.36 2410 70.74 33.33 - - 15 -Colony Sugar Mills 990 - 3.80 3.90 3.80 3.90 0.10 1780 4.00 2.54 - - - -Crescent Sugar 214 9.43 5.73 5.50 5.00 5.00 -0.73 36547 6.65 5.00 - - - -Dewan Sugar 365 - 2.69 3.06 2.54 2.88 0.19 150855 3.15 1.11 - - - -Faran Sugar 217 3.46 20.50 21.39 20.50 21.39 0.89 510 21.39 16.01 17.5 - - -Habib Sugar 600 6.98 33.93 34.19 33.30 33.87 -0.06 63075 36.00 26.25 35 25B - -Habib-ADM Ltd 200 11.30 12.50 12.40 12.20 12.20 -0.30 5060 16.98 11.90 40 - 40 -Ismail Ind 505 32.27 72.96 74.99 69.32 72.28 -0.68 786 77.70 66.25 15 - 17.5 110RMehran Sugar 143 3.68 67.31 68.49 65.01 65.67 -1.64 7734 68.49 48.50 35 30B 25 10BMirpurkhas Sugar 70 5.32 63.35 65.90 62.80 63.84 0.49 4325 67.00 53.64 25 10B 15 20BMirza Sugar 141 0.40 6.10 6.40 6.25 6.35 0.25 1201 6.48 4.20 - - - -National Foods 414 15.98 43.26 43.45 42.61 42.83 -0.43 5126 57.00 39.01 - 25B 12 -Nestle Pakistan 453 23.80 2187.26 2249.00 2100.00 2166.75 -20.51 170 2259.00 1785.00 600 - 450 -Noon Pakistan 48 3.29 23.50 24.00 22.36 23.03 -0.47 2893 27.30 17.51 - 10B 12 -Noon Sugar 165 - 14.25 14.00 14.00 14.00 -0.25 500 14.84 10.50 50 10B - -Pangrio Sugar 109 0.49 6.06 6.24 5.60 6.00 -0.06 6230 6.50 4.00 - - - -Premier Sugar 38 9.17 50.97 50.50 49.00 49.99 -0.98 13101 53.81 32.50 30 - - -Punjab Oil XD 38 2.95 41.29 39.23 39.23 39.23 -2.06 500 41.29 34.00 15 25B 15 28RQuice Food 107 - 2.07 2.06 2.06 2.06 -0.01 1500 3.40 1.60 - - - -S S Oil 57 0.28 3.35 3.31 3.25 3.27 -0.08 5000 3.89 3.00 - - - -Sanghar Sugar 119 0.99 13.29 13.90 13.60 13.80 0.51 2834 14.90 13.00 10 - - -Shahmurad Sugar 211 19.00 13.15 13.50 13.00 13.11 -0.04 2344 13.50 8.31 15 - - -Shakarganj Mills 695 - 6.32 7.29 6.48 7.19 0.87 147684 7.50 3.21 - - - -Tandlianwala 1177 309.09 34.00 34.01 34.00 34.00 0.00 1503 35.50 27.50 - - - -Thal Industries 150 9.77 70.03 66.53 66.53 66.53 -3.50 500 81.02 61.00 20 - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
AUTOMOBILE AND PARTS
Performance of SR Automobile and Parts Index
Open High Low Close Change % Change
1,179.26 1,193.51 1,152.46 1,161.28 -17.98 -1.53
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
3,247,593 - - 6,768.53 mn 42,115.91 mn 1,179.26
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
4.27 1.08 25.35 20.42 4.78 1,161.28
Agriautos Ind 144 5.41 70.24 71.50 70.35 71.40 1.16 1200 73.00 63.01 40 - 90 -
Atlas Battery 101 4.78 160.68 162.70 160.00 160.13 -0.55 9576 187.90 131.00 100 20B 100 20B
Atlas Honda 626 7.93 107.00 111.50 109.00 109.44 2.44 2516 122.51 92.50 80 30B - -
Dewan Motors 890 - 1.52 1.88 1.51 1.72 0.20 3162634 1.88 1.16 - - - -
Exide (PAK) 56 4.39 191.20 198.00 185.01 186.00 -5.20 2003 198.07 121.10 50 - 60 -
General Tyre 598 19.40 22.22 22.50 22.24 22.50 0.28 1501 26.70 21.00 - - 20 -
Ghandhara Nissan 450 3.23 4.59 4.89 4.65 4.65 0.06 1003 6.09 4.03 - - - -
Honda Atlas Cars 1428 - 11.80 12.00 11.45 11.49 -0.31 16756 13.40 9.65 - - - -
Indus Motors 786 5.80 262.42 263.98 253.00 254.24 -8.18 37120 282.45 215.99 100 - 150 -
Pak Suzuki 823 11.60 73.70 74.10 72.00 72.82 -0.88 8502 79.50 69.25 5 - - -
Sazgar Engineering 150 3.64 20.20 20.70 19.50 19.50 -0.70 4471 27.58 17.92 - 20B 10 20B
Transmission 117 - 2.20 1.97 1.97 1.97 -0.23 311 3.25 1.53 2 - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
INDUSTRIAL ENGINEERING
Performance of SR Industrial Engineering Index
Open High Low Close Change % Change
1,555.48 1,572.78 1,547.43 1,551.44 -4.05 -0.26
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
72,368 - - 1,336.62 mn 32,576.69 mn 1,555.48
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
8.36 3.18 38.02 131.49 15.73 1,541.15
Ados Pak 66 1.01 15.00 16.00 15.00 15.60 0.60 13544 21.89 14.12 20 - - -
AL-Ghazi Tractor 215 5.23 216.43 219.30 218.00 218.48 2.05 158 227.45 200.00 400 - 150 -
Bolan Casting 104 - 44.00 45.90 43.00 45.48 1.48 10420 51.99 40.50 - 20B 25 10B
Dewan Auto Engineering 214 - 0.78 1.00 0.21 0.65 -0.13 2532 1.00 0.21 - - - -
Ghandhara Ind 213 10.39 10.91 11.47 11.00 11.22 0.31 12595 18.80 10.55 - - - -
Hinopak Motor 124 - 139.01 141.00 133.00 133.06 -5.95 205 147.89 108.11 17.15 - - -
Millat Tractors XB 366 6.47 495.39 498.95 494.00 494.79 -0.60 32891 597.90 390.00 450 25B 650 25B
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
GENERAL INDUSTRIALS
Performance of SR General Industrials Index
Open High Low Close Change % Change
958.01 972.06 947.17 955.45 -2.57 -0.27
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
235,037 - - 3,043.31 mn 35,739.14 mn 967.66
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
2.72 1.20 43.91 15.55 5.71 955.45
Cherat Papersack 115 2.81 75.06 78.81 73.76 78.81 3.75 167789 78.81 34.00 - - 20 25B
ECOPACK Ltd 230 - 2.44 2.54 2.30 2.43 -0.01 12556 3.13 1.70 - - - -
Ghani Glass 1067 4.33 48.34 49.35 47.00 47.09 -1.25 16398 61.99 45.75 30 10B 25 10B
MACPAC Films 389 - 2.95 2.92 2.50 2.50 -0.45 1054 3.84 1.60 - - - -
Merit Pack 47 48.13 18.25 19.25 19.25 19.25 1.00 2042 19.25 11.81 - - - -
Packages Ltd 844 54.36 107.00 106.89 105.30 106.00 -1.00 11286 111.88 98.00 32.5 - - -
Tri-Pack Films 300 8.31 113.16 114.00 113.00 113.91 0.75 23829 115.00 96.01 100 - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
CONSTRUCTION AND MATERIALS
Performance of SR Construction and Materials Index
Open High Low Close Change % Change
1,020.45 1,040.72 1,017.11 1,030.67 10.22 1.00
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
16,855,061 - - 54,792.74 mn 74,400.95 mn 1,030.67
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.46 0.53 7.10 19.04 2.55 999.33
Al-Abbas Cement 1828 - 3.35 3.35 3.25 3.35 0.00 13289 4.20 2.80 - - - 100R
Attock Cement 866 6.74 62.70 64.00 62.47 63.99 1.29 149866 69.86 57.60 50 20B 50 -
Balochistan Glass Ltd 858 - 1.69 1.69 1.69 1.69 0.00 1390 2.05 1.01 - - - -
Berger Paints 182 - 19.39 19.70 18.80 19.15 -0.24 11169 20.45 14.01 - - - 122R
Cherat Cement 956 27.05 11.47 12.00 11.79 11.90 0.43 3201 12.75 9.51 - - - -
Dadabhoy Cement 982 13.46 1.60 1.85 1.61 1.75 0.15 80666 2.20 1.30 - - - -
Dewan Cement 3574 - 1.91 2.22 1.91 2.12 0.21 2806973 2.22 1.30 - - - -
DG Khan Cement Ltd 3651 131.04 31.05 31.95 31.06 31.45 0.40 7737846 31.95 23.40 - 20R - 20R
Fauji Cement 6933 14.91 4.94 5.04 4.90 4.92 -0.02 497449 5.50 4.52 - - - -
Fecto Cement 502 3.75 7.35 7.21 7.20 7.20 -0.15 1058 8.20 4.25 - 10B - -
Flying Cement Ltd 1760 - 1.80 1.89 1.72 1.79 -0.01 182576 2.20 1.70 - - - -
Gammon Pak 283 - 1.53 1.75 1.48 1.50 -0.03 2960 2.90 0.98 - - - -
Gharibwal Cement 2319 - 8.61 8.70 8.01 8.40 -0.21 29015 8.70 2.11 - - - -
Haydery Const 32 - 0.70 0.74 0.64 0.69 -0.01 24066 1.48 0.25 - - - -
Kohat Cement 1288 - 7.23 7.28 7.06 7.15 -0.08 34300 8.70 5.50 - - - -
Lafarge Pakistan Cmt. 13126 - 3.03 3.09 3.00 3.05 0.02 520056 3.65 2.71 - - - -
Lucky Cement 3234 6.96 76.46 77.75 76.50 77.46 1.00 4292568 79.98 67.70 40 - 40 -
Maple Leaf Cement 5261 1.33 2.86 2.94 2.85 2.87 0.01 110162 3.40 2.51 - - - -
Maple Leaf(Pref) 541 3.09 4.28 4.99 4.08 4.20 -0.08 1373 8.89 3.51 9.75 - - -
Pioneer Cement 2228 - 7.11 7.15 7.00 7.07 -0.04 324359 8.58 6.56 - - - -
Safe Mix Concrete 200 - 5.99 6.20 5.99 6.06 0.07 3848 9.47 5.25 - - - -
Shabbir Tiles 361 - 8.43 8.98 8.00 8.50 0.07 19832 11.00 6.30 - - - -
Thatta Cement 798 504.25 19.40 20.20 18.40 20.17 0.77 10882 22.24 18.00 - - - 50R
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
INDUSTRIAL METALS AND MINING
Performance of SR Industrial Metals and Mining Index
Open High Low Close Change % Change
972.71 999.89 964.27 979.07 6.36 0.65
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
345,053 - - 3,596.11 mn 9,486.39 mn 979.07
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
3.09 1.02 33.10 30.91 10.02 967.95
Crescent Steel 565 3.95 24.98 25.29 24.87 25.27 0.29 36821 25.98 23.75 - - 30 -
Dost Steels Ltd 675 - 2.92 3.00 2.80 2.93 0.01 62710 3.39 1.65 - - - -
Huffaz Pipe 555 9.07 14.56 14.80 14.45 14.51 -0.05 7015 16.75 12.25 - 30B - -
International Ind 1199 10.58 50.66 52.85 50.00 50.80 0.14 243994 54.00 44.00 - - 40 20B
Siddiqsons Tin 785 10.34 9.01 9.28 9.00 9.10 0.09 1528 10.80 8.00 10 - 7.5 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FORESTRY AND PAPER
Performance of SR Forestry & Paper Index
Open High Low Close Change % Change
1,103.63 1,154.31 1,105.01 1,135.87 32.24 2.92
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
49,392 - - 1,186.83 mn 3,148.14 mn 1,135.87
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
5.70 0.43 7.47 25.28 4.44 1,083.91
Century Paper 707 - 16.49 17.15 16.31 16.43 -0.06 18624 21.80 15.28 - 425R - -
Pak Paper Product 50 8.39 41.58 43.65 43.00 43.65 2.07 7898 62.85 38.61 20 - 25 33.33B
Security Paper 411 6.60 40.76 42.79 41.00 42.79 2.03 22870 42.79 38.00 50 - 50 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
CHEMICALS
Performance of SR Chemicals Index
Open High Low Close Change % Change
1,293.61 1,310.34 1,293.20 1,299.62 6.01 0.46
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
49,404,991 - - 52,251.88 mn 286,862.86 mn 1,299.62
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
8.16 2.86 35.00 48.81 5.98 1,275.44
Agritech Limited 3924 8.42 23.37 23.50 23.25 23.25 -0.12 1020 25.38 20.26 - - - -
Biafo Ind 200 5.04 45.12 46.35 44.25 46.35 1.23 4909 49.75 31.64 40 - 45 -
BOC (Pak) 250 11.74 85.14 86.74 84.11 85.44 0.30 2946 87.99 66.90 90 - 15 -
Clariant Pak 273 6.03 158.60 162.00 157.67 157.72 -0.88 5120 164.89 149.72 125 - - -
Dawood Hercules XD 1203 7.17 172.46 173.90 172.00 172.85 0.39 7217 185.00 163.51 40 10B 40 -
Descon Chemical 1996 - 2.54 2.90 2.55 2.84 0.30 631775 2.90 1.78 - - - -
Descon Oxychem Ltd. 1020 - 7.24 8.23 7.29 8.21 0.97 2393931 8.27 3.20 - - - -
Dewan Salman 3663 - 2.23 3.01 2.23 2.77 0.54 26284430 3.01 1.28 - - - -
Dynea Pak 94 - 11.00 10.80 10.54 10.70 -0.30 14837 13.79 9.15 15 - 15 -
Engro Corp. Ltd XD 3277 10.26 185.96 187.48 186.12 186.80 0.84 1526231 189.47 168.65 6010B 40R 40 -
Engro Polymer 6635 - 14.11 14.40 14.10 14.16 0.05 1131007 15.20 11.61 - 27.5R - -
Fatima Fertilizer 22000 - 10.18 10.23 9.21 9.47 -0.71 4557737 11.74 9.11 - - - -
Fauji Fertilizer XD 6785 8.29 113.94 115.35 114.10 114.35 0.41 1659496 115.35 102.96 131.5 10B 95 -
Fauji Fert. Bin Qasim 9341 6.74 35.27 35.78 35.50 35.71 0.44 2678960 35.78 26.59 40 - 17.5 -
Ghani Gases Ltd 725 8.70 11.58 11.70 11.45 11.48 -0.10 49706 13.85 7.41 - - - -
ICI Pakistan 1388 7.72 138.09 139.19 137.00 137.03 -1.06 114155 139.99 116.00 80 - 55 -
Lotte Pakistan 15142 4.56 12.83 13.05 12.70 12.78 -0.05 12990055 13.05 7.85 5 - - -
Mandviwala 74 - 1.70 1.70 1.45 1.64 -0.06 8027 2.75 0.80 - - - -
Nimir Ind Chemical 1106 - 1.55 1.60 1.50 1.55 0.00 209201 1.72 1.16 - - - -
Shaffi Chemical 120 - 2.44 2.40 2.39 2.39 -0.05 126 3.40 1.80 - - - -
Sitara Chem Ind 214 10.40 130.00 127.03 126.10 126.86 -3.14 130 139.40 101.00 75 - 25 5B
Sitara Peroxide 551 14.66 13.28 13.94 13.35 13.49 0.21 322718 14.69 7.67 - - - -
Wah-Noble 90 6.57 33.20 34.17 33.41 34.16 0.96 700 46.25 32.00 50 - 50 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
PHARMA AND BIO TECH
Performance of SR Pharma and Bio Tech Index
Open High Low Close Change % Change
906.07 918.02 898.63 911.55 5.49 0.61
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
67,970 - - 3,904.20 mn 30,381.98 mn 911.55
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.76 1.51 22.31 44.54 6.59 894.83
Abbott (Lab) 979 8.77 100.04 101.99 99.70 100.11 0.07 6937 104.00 78.99 120 - 20 -
Ferozsons (Lab) 250 6.40 84.01 84.80 83.50 84.80 0.79 1535 124.00 82.20 10 20B - 20B
GlaxoSmithKline 1707 13.58 75.02 75.60 74.00 75.50 0.48 5812 76.00 65.00 50 - - -
Highnoon (Lab) 165 7.24 26.37 26.15 25.80 26.15 -0.22 38234 26.98 22.60 25 - - -
IBL HealthCare Ltd 200 6.65 8.65 8.59 8.00 8.25 -0.40 5006 9.00 6.10 - - - -
Otsuka Pak 100 7.59 34.00 34.00 34.00 34.00 0.00 815 35.00 27.50 15 - - -
Searle Pak 306 5.53 61.25 62.00 61.25 61.51 0.26 9578 64.50 57.05 15 15B 30 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
INDUSTRIAL TRANSPORTATION
Performance of SR Industrial Transportation Index
Open High Low Close Change % Change
732.06 732.82 727.25 727.84 -4.22 -0.58
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
18,650 - - 3,242.17 mn 12,548.35 mn 736.32
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
5.53 1.41 25.53 11.08 2.00 727.84
Pak Int Cont. Terminal 1092 7.15 71.51 71.60 71.50 71.50 -0.01 305 77.77 60.05 - 20B 40 -
PNSC 1321 36.96 34.99 35.00 33.86 34.00 -0.99 18345 41.00 33.06 30 - 15 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
BOOK CLOSURES
Dawood Hercules Chemicals 7-Dec 13-Dec 20(ii) 29Nov -
Pakistan Premier Fund 7-Dec 14-Dec - - 14-Dec
Engro Corporation (Standalone) 7-Dec 21-Dec 20(ii) 29-Nov -
Fauji Fertilizer Bin Qasim 14-Dec 20-Dec 12.50(iii) 06Dec -
Oil and Gas Development Co 14-Dec 21-Dec 15(i) 06Dec -
Mirpurkhas Sugar Mills 16-Dec 30-Dec 15.20(B) - 30Dec
Siemens Pakistan 20-Dec 29-Dec 600 8-Dec 29Dec
JS Investment # 21-Dec 27-Dec - - 27Dec
INDICATIONS
# Extraordinary General Meeting
Company From To D/B/R Spot AGM/Date
OTHER SECTORS
TRG Pakistan Ltd. 4.21 4.2 3.8 3.87 -0.34 8359430Murree Brewery Co 79.64 83.62 78.51 83.62 3.98 20599Shakarganj Food 1.05 1.15 1.15 1.15 0.1 2500Shezan International 92.95 97.59 93.01 97.59 4.64 214Grays of Cambridge 54.11 53 51.54 51.55 -2.56 111Lakson Tobacco 316.33 325 300.52 300.52 -15.81 7028Pak Tobacco 119.9 116.9 113.91 116.9 -3 15701Shifa Int.Hospitals 28.5 29.25 27.51 29.15 0.65 808Pak Hotels 33 34.65 32.51 34.65 1.65 157PIAC(A) 2.2 2.28 2.2 2.2 0 159786AKD Capital XD 51.07 52.89 48.52 48.53 -2.54 11463Pace (Pak) Ltd 2.89 3.06 2.84 2.93 0.04 1173340Netsol Technologies 19.21 19.48 19.05 19.13 -0.08 192569
Symbols Open High Low Close Change Vol
Tuesday, December 7, 20107
Technical Analysis Leverage Position
KSE 100 INDEX
Technical Outlook
KSE 100 INDEX closed up 33.41 points at 11,440.07. Volume was 49 per
cent above average and Bollinger Bands were 13 per cent wider than nor-
mal. As far as resistance level is concern, the market will see major 1st
resistance level at 11,481.85and 2nd resistance level at 11,523.60, while
Index will continue to find its 1st support level at 11,402.50 and 2nd sup-
port level at 11,364.90.
KSE 100 INDEX is currently 12.8 per cent above its 200-day moving aver-
age and is displaying an upward trend. Volatility is low as compared to the
average volatility over the last 10 trading sessions. Volume indicators
reflect very strong flows of volume into INDEX (bullish). Trend forecasting
oscillators are currently bullish on INDEX. Momentum oscillator is current-
ly indicating that INDEX is currently in an overbought condition.
RSI (14-day) 79.85 Support 1 11,402.50
MA (5-day) 11,329.37 Support 2 11,364.90
MA (10-day) 11,241.66 Resistance 1 11,481.85
MA (100-day) 10,313.60 Resistance 2 11,523.60
MA (200-day) 10,147.04 Pivot 11,444.25
Technical Analysis Leverage Position
National Bank of Pakistan
Brokerage House Fair Value Rs Recommendations
Technical Outlook
NBP closed up 0.83 at 69.32. Volume was 235 per cent above average
(trending) and Bollinger Bands were 38 per cent narrower than normal.
NBP is currently 3.1 per cent above its 200-day moving average and is dis-
playing an upward trend. Volatility is extremely low when compared to the
average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into NBP (mildly bullish). Trend forecast-
ing oscillators are currently bullish on NBP.
*Arif Habib Ltd 82.1 Buy
AKD Securities Ltd 61.96 Neutral
TFD Research 92.3 Positive
RSI (14-day) 65.06 Free Float Shares (mn) 318.37
MA (10-day) 66.93 Free Float Rs (mn) 22,069.20
MA (100-day) 66.13 ** NOI Rs (mn) 91.59
MA (200-day) 69.97 Mean 69.16
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Dera Ghazi Khan Cement Co Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
DGKC closed up 0.40 at 31.45. Volume was 94 per cent above average
and Bollinger Bands were 12 per cent wider than normal.
DGKC is currently 17.1 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 mod-
erate flows of volume into DGKC (mildly bullish). Trend forecasting oscilla-
tors are currently bullish on DGKC. Momentum oscillator is currently indi-
cating that DGKC is currently in an overbought condition.
*Arif Habib Ltd 42 Buy
AKD Securities Ltd 43.29 Buy
TFD Research 36.85 Positive
RSI (14-day) 70.76 Free Float Shares (mn) 182.55
MA (10-day) 29.26 Free Float Rs (mn) 5,741.19
MA (100-day) 26.49 ** NOI Rs (mn) 39.17
MA (200-day) 26.86 Mean 31.38
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Nishat Mills Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
NML closed down -1.34 at 61.04. Volume was 52 per cent above average
and Bollinger Bands were 51 per cent wider than normal.
NML is currently 20.0 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 very
strong flows of volume into NML (bullish). Trend forecasting oscillators are
currently bullish on NML.
*Arif Habib Ltd 62.4 -
AKD Securities Ltd 59.97 Buy
TFD Research 74.2 Positive
RSI (14-day) 68.58 Free Float Shares (mn) 175.80
MA (10-day) 59.30 Free Float Rs (mn) 10,730.83
MA (100-day) 49.66 ** NOI Rs (mn) 216.83
MA (200-day) 50.86 Mean 61.65
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Lucky Cement Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
LUCK closed up 1.00 at 77.46. Volume was 193 per cent above average
(trending) and Bollinger Bands were 4 per cent wider than normal.
LUCK is currently 9.3 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 mod-
erate flows of volume into LUCK (mildly bullish). Trend forecasting oscilla-
tors are currently bullish on LUCK.
*Arif Habib Ltd 93.9 Buy
AKD Securities Ltd 105.2 Buy
TFD Research 72.75 Neutral
RSI (14-day) 61.53 Free Float Shares (mn) 129.35
MA (10-day) 75.46 Free Float Rs (mn) 10,019.45
MA (100-day) 70.42 ** NOI Rs (mn) 15.00
MA (200-day) 70.84 Mean 77.04
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
MCB Bank Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
MCB closed up 9.20 at 217.27. Volume was 191 per cent above average
(trending) and Bollinger Bands were 32 per cent narrower than normal.
MCB is currently 7.7 per cent above its 200-day moving average and is
displaying an upward trend. Volatility is extremely high when compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect volume flowing into and out of MCB at a relatively equal pace. Trend
forecasting oscillators are currently bullish on MCB. Momentum oscillator
is currently indicating that MCB is currently in an overbought condition.
*Arif Habib Ltd 196.4 Sell
AKD Securities Ltd 189.75 Neutral
TFD Research 218.18 Neutral
RSI (14-day) 72.33 Free Float Shares (mn) 342.10
MA (10-day) 207.08 Free Float Rs (mn) 74,327.36
MA (100-day) 198.02 ** NOI Rs (mn) 71.06
MA (200-day) 201.74 Mean 213.06
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
Fauji Fertiliser Bin Qasim Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
FFBL closed up 0.44 at 35.71. Volume was 40 per cent above average and
Bollinger Bands were 26 per cent wider than normal.
FFBL is currently 20.9 per cent above its 200-day moving average and is
displaying an upward trend. Volatility is low as compared to the average
volatility over the last 10 trading sessions. Volume indicators reflect mod-
erate flows of volume into FFBL (mildly bullish). Trend forecasting oscilla-
tors are currently bullish on FFBL. Momentum oscillator is currently indicat-
ing that FFBL is currently in an overbought condition.
*Arif Habib Ltd 34.7 Sell
AKD Securities Ltd 32.06 Accumulate
TFD Research 29.1 Negative
RSI (14-day) 79.57 Free Float Shares (mn) 326.94
MA (10-day) 34.52 Free Float Rs (mn) 11,674.97
MA (100-day) 29.72 ** NOI Rs (mn) 15.35
MA (200-day) 29.71 Mean 35.57
* Target price for Dec-10 & **Net Open Interest in future market
Technical Analysis Leverage Position
United Bank Ltd
Brokerage House Fair Value Rs Recommendations
Technical Outlook
UBL closed up 1.04 at 63.00. Volume was 162 per cent above average
(trending) and Bollinger Bands were 22 per cent wider than normal.
UBL is currently 10.6 per cent above its 200-day moving average and is
displaying an upward trend. Volatility is relatively normal as compared to
the average volatility over the last 10 trading sessions. Volume indicators
reflect moderate flows of volume into UBL (mildly bullish). Trend forecast-
ing oscillators are currently bullish on UBL. Momentum oscillator is current-
ly indicating that UBL is currently in an overbought condition.
*Arif Habib Ltd 72.5 Buy
AKD Securities Ltd 56.82 Accumulate
TFD Research 78.44 Positive
RSI (14-day) 78.08 Free Float Shares (mn) 306.04
MA (10-day) 59.82 Free Float Rs (mn) 19,280.83
MA (100-day) 55.65 ** NOI Rs (mn) 2.28
MA (200-day) 56.97 Mean 62.68
* Target price for Dec-10 & **Net Open Interest in future market
EQUITY INVESTMENT INSTRUMENTS
Performance of SR Equity Investment Instruments Index
Open High Low Close Change % Change
1,192.96 1,219.55 1,190.55 1,206.69 13.74 1.15
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
7,596,715 - - 29,771.58 mn 17,550.57 mn 1,206.69
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
20.08 0.44 2.21 104.74 8.10 1,182.21
1st Fid Leasing 264 9.38 1.36 1.70 1.41 1.50 0.14 1278 2.24 1.01 - - - -
Allied Rental 600 3.07 15.20 15.10 14.50 14.50 -0.70 174900 17.00 14.01 15 - 22.5 -
AL-Meezan Mutual F. 1375 5.99 6.90 7.23 6.99 7.19 0.29 352173 7.23 5.85 - - 18.5 -
B R R Guardian Mod. 780 4.05 1.71 1.88 1.71 1.78 0.07 21942 2.37 0.90 - - 0 -
Constellation Mod. 65 3.41 1.46 1.50 1.36 1.50 0.04 2970 2.99 0.90 - - - -
Crescent St Mod. 200 1.50 0.70 0.79 0.56 0.60 -0.10 29302 1.10 0.25 - - 1.2 -
Elite Cap Mod. 113 3.71 2.87 2.99 2.80 2.97 0.10 1493 3.09 1.73 4.5 - 5 -
Equity Modaraba 524 10.56 1.59 1.70 1.61 1.69 0.10 11055 2.37 0.76 - - - -
First Capital Mutual F. 300 10.25 5.10 4.10 4.10 4.10 -1.00 29000 5.50 1.94 - - - -
First Dawood Mutual F. 581 0.64 2.03 2.20 2.00 2.01 -0.02 25013 2.24 1.30 - - - -
Golden Arrow 760 2.17 3.02 3.10 3.00 3.04 0.02 66600 3.88 2.56 - - 17 -
H B L Modaraba 397 2.20 6.83 7.00 6.60 6.60 -0.23 21076 7.00 5.11 5 - 11 -
Habib Modaraba 1008 5.77 6.61 6.79 6.62 6.69 0.08 7207 6.79 5.66 20 - 21 -
JS Growth Fund 3180 57.50 4.39 4.65 4.40 4.60 0.21 6143909 4.65 2.65 - - 5 -
JS Value Fund 1186 15.93 4.48 4.65 4.45 4.46 -0.02 66523 4.73 2.31 10 - 10 -
KASB Modaraba 283 1.22 1.90 1.89 1.66 1.66 -0.24 515 2.23 0.91 - - 2.8 -
Meezan Balanced Fund 1200 6.01 6.30 6.25 6.25 6.25 -0.05 2000 6.65 5.15 - - 15.5 -
Mod Al-Mali 184 10.00 1.03 1.09 1.00 1.00 -0.03 1030 2.18 0.56 - - - -
Pak Modaraba 125 5.00 1.15 1.10 1.00 1.00 -0.15 101 1.40 0.30 - - 3 -
Pak Prem Fund 1698 12.32 8.79 8.90 8.77 8.87 0.08 300004 9.39 7.00 - - 18.6 -
Paramount Modaraba 59 6.64 8.50 8.70 8.50 8.50 0.00 606 9.45 7.10 15 - 18 -
PICIC Energy Fund XD 1000 1.84 6.29 6.45 6.28 6.34 0.05 29906 6.45 4.20 - - 10 -
PICIC Growth Fund 2835 6.99 10.99 11.08 10.85 10.90 -0.09 90432 11.20 7.90 - - 20 -
PICIC Inv Fund 2841 6.11 5.23 5.40 5.29 5.38 0.15 48404 5.48 3.50 - - 10 -
Prud Modaraba 1st 872 2.07 0.90 0.93 0.87 0.91 0.01 134500 1.20 0.76 - - 3 -
Punjab Modaraba XD 340 - 1.70 1.50 1.30 1.38 -0.32 10855 2.54 0.50 - - 1 -
Stand Chart Modaraba 454 4.37 8.85 8.95 8.51 8.92 0.07 5108 10.99 7.75 16.5 - 17 -
Tri-Star Mutual 50 2.83 1.40 1.90 1.00 1.02 -0.38 1052 2.87 0.86 - - - -
U D L Modaraba XD 264 1.64 5.79 5.79 5.78 5.79 0.00 17500 6.99 4.71 10 - 12.5 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FINANCIAL SERVICES
Performance of SR Financial Services Index
Open High Low Close Change % Change
441.03 446.98 435.48 438.28 -2.75 -0.62
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
6,029,644 - - 30,336.44 mn 30,336.54 mn 441.03
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
10.04 0.30 0.91 99.56 3.01 428.77
AMZ Ventures 225 1.32 0.58 0.60 0.52 0.58 0.00 77897 1.10 0.42 - - - -
Arif Habib Limited 450 13.47 26.48 26.80 26.30 26.41 -0.07 31791 34.00 24.40 15 25B - 20B
Arif Habib Corp 3750 4.74 25.72 26.14 25.67 25.76 0.04 1709261 27.02 20.90 - - 30 -
Dawood Cap Mngt. XB 150 1.17 1.55 1.31 1.31 1.31 -0.24 2750 2.14 0.86 - - - -
Dawood Equities 250 - 2.00 2.49 1.90 1.92 -0.08 27012 2.70 1.51 - - - -
IGI Investment Bank 2121 16.19 2.65 2.89 2.56 2.59 -0.06 35151 2.90 1.17 - - - -
Invest and Fin Sec 600 696.00 7.90 7.45 6.90 6.96 -0.94 4211 9.00 6.16 - - 11.5 -
Invest Bank 2849 - 0.65 0.81 0.60 0.61 -0.04 94194 1.00 0.44 - - - -
Ist Cap Securities 3166 - 3.50 3.53 3.50 3.50 0.00 17926 4.80 2.54 - 10B - 10B
Ist Dawood Bank 626 0.67 1.90 1.96 1.84 1.87 -0.03 75179 2.84 1.31 - - - -
Jah Siddiq Co 7633 - 13.18 13.39 13.01 13.09 -0.09 5341796 14.05 8.80 -243.778B 10 -
JOV and CO 508 - 4.18 4.30 4.10 4.13 -0.05 88039 5.38 1.96 - - - -
JS Global Cap 500 8.01 30.17 30.00 29.25 29.80 -0.37 6354 40.00 24.25 150 - - -
JS Investment 1000 28.83 7.03 7.05 6.90 6.92 -0.11 106553 7.59 5.10 - - - -
KASB Securities 1000 - 4.41 4.60 4.40 4.41 0.00 36901 4.70 3.32 - - - -
Orix Leasing 821 5.00 6.50 6.80 6.51 6.80 0.30 1001 7.29 4.50 - - - -
Pervez Ahmed Sec 775 - 2.32 2.40 2.21 2.24 -0.08 80773 2.70 1.35 -231.08R - -
Saudi Pak Leasing 452 - 0.57 0.63 0.60 0.60 0.03 1920 0.86 0.42 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
LIFE INSURANCE
Performance of SR Life Insurance Index
Open High Low Close Change % Change
962.53 972.35 949.19 953.66 -8.88 -0.92
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
10,660 - - 2,290.72 mn 10,978.15 mn 963.51
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
105.76 4.07 3.85 355.53 3.36 935.87
American Life 500 6.00 17.11 17.93 16.11 17.93 0.82 638 20.45 16.11 - - - -
East West Life 455 - 3.00 3.00 2.55 2.90 -0.10 1502 4.62 2.05 - 10R - 20R
EFU Life Assurance 850 46.60 83.39 86.40 82.00 82.01 -1.38 7420 86.95 51.25 5513.33B - -
New Jub Life Insurance 627 31.88 47.87 47.50 47.50 47.50 -0.37 1100 49.14 39.68 10 - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
BANKS
Performance of SR Banks Index
Open High Low Close Change % Change
1,089.29 1,124.05 1,091.69 1,114.76 25.47 2.34
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
25,429,591 - - 257,548.02 mn 676,125.40 mn 1,114.76
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
7.96 1.11 13.94 40.49 5.08 1,058.88
Allied Bank Limited 7821 6.12 62.42 63.30 62.60 62.93 0.51 62994 63.30 48.51 40 10B 20 -Askari Bank 6427 8.04 16.85 17.20 16.84 16.89 0.04 1033037 17.20 14.10 - 20B - -Atlas Bank 5001 - 1.64 1.69 1.56 1.66 0.02 75104 2.55 1.50 - - - -Bank Alfalah 13492 12.91 10.02 10.17 10.00 10.07 0.05 1878082 10.19 7.65 8 - - -Bank AL-Habib 7322 7.40 34.01 34.50 34.10 34.35 0.34 117598 34.50 29.10 20 20B - -Bank Of Khyber 5004 5.57 4.27 4.40 3.94 4.18 -0.09 16897 4.70 2.50 - - - -Bank Of Punjab 5288 - 9.72 10.18 9.93 10.03 0.31 3337319 10.59 7.56 - - - -BankIslami Pak 5280 842.50 3.40 3.60 3.35 3.37 -0.03 114599 3.88 2.70 - - - -Faysal Bank XB 7309 4.84 14.66 15.15 14.74 15.00 0.34 1032311 17.10 12.85 - - - 20BHabib Bank Ltd 10019 7.13 113.42 115.95 113.50 114.13 0.71 420721 115.95 92.55 60 10B - -Habib Metropolitan Bank 8732 7.65 25.01 25.65 25.00 25.01 0.00 9053 26.74 18.02 10 16B - -JS Bank Ltd 6128 - 2.61 2.70 2.60 2.67 0.06 23420 3.00 2.00 - - - 66RKASB Bank Ltd 9509 - 2.74 2.80 2.40 2.65 -0.09 89834 2.90 2.03 - 26B - -MCB Bank Ltd XD 7602 9.63 208.07 217.90 209.00 217.27 9.20 2871387 217.90 182.61 110 10B 55 -Meezan Bank 6983 8.46 15.76 16.10 15.75 15.99 0.23 518544 16.32 14.05 - 5B - -Mybank Ltd 5304 - 2.40 2.60 2.41 2.45 0.05 267022 2.69 1.81 - - - -National Bank 13455 6.05 68.49 69.80 69.02 69.32 0.83 9502308 70.75 61.50 75 25B - -NIB Bank 40437 - 2.95 2.98 2.88 2.93 -0.02 448955 3.18 2.46 - - - -Royal Bank Ltd 17180 - 4.98 5.00 4.63 4.67 -0.31 129556 8.10 3.91 - - - -Samba Bank 14335 - 1.80 1.87 1.79 1.80 0.00 88308 2.65 1.51 - - -63.46RSilkbank Ltd 26716 - 2.71 2.79 2.67 2.70 -0.01 751613 3.08 2.50 - - - -Soneri Bank 6023 - 7.24 7.40 7.20 7.35 0.11 37849 8.00 5.01 - - - -Stand Chart Bank 38716 12.69 8.00 8.37 8.00 8.25 0.25 56197 8.80 6.00 - - - -Summit Bank Ltd 5000 - 3.48 3.79 3.25 3.32 -0.16 148378 3.80 2.30 - - - -United Bank Ltd 12242 7.40 61.96 63.50 62.25 63.00 1.04 2546831 63.50 49.90 25 10B 10 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
NON LIFE INSURANCE
Performance of SR Non Life Insurance Index
Open High Low Close Change % Change
760.08 769.64 752.49 755.52 -4.56 -0.60
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
1,126,203 - - 11,111.34 mn 46,921.86 mn 760.08
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
12.53 0.65 5.20 79.54 6.35 746.44
Adamjee Insurance 1237 23.75 82.18 83.50 81.51 81.93 -0.25 643254 84.45 63.05 30 10B 10 -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
GAS WATER AND MULTIUTILITIES
Performance of SR Gas Water and Multiutilities Index
Open High Low Close Change % Change
1,560.23 1,578.89 1,507.19 1,527.97 -32.27 -2.07
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
820,524 - - 12,202.80 mn 32,686.11 mn 1,637.30
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
9.68 1.10 11.41 66.79 6.90 1,527.97
Sui North Gas XD 5491 7.99 27.32 27.65 26.75 26.86 -0.46 135609 34.75 25.55 - - 20 -Sui South Gas 8390 3.22 21.89 22.15 20.95 21.38 -0.51 684915 30.70 19.60 - - 15 25B
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
ELECTRICITY
Performance of SR Electricity Index
Open High Low Close Change % Change
1,241.80 1,260.92 1,239.48 1,250.46 8.67 0.70
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
18,088,891 - - 95,369.29 mn 102,098.54 mn 1,250.46
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
13.56 1.27 9.35 104.13 7.68 1,239.12
Altern Energy 3426 24.30 10.10 11.10 10.69 10.69 0.59 502 11.88 9.00 - - - -
Genertech 198 - 0.81 0.90 0.78 0.90 0.09 7879 1.45 0.51 - - - -
Hub Power 11572 6.68 36.41 36.68 36.35 36.47 0.06 485980 37.05 32.75 33.5 - 50 -
Japan Power 1560 - 1.84 1.84 1.72 1.81 -0.03 23263 2.25 1.20 - - - -
KESC 7932 - 2.34 2.47 2.30 2.42 0.08 1123103 2.50 1.94 - 31R - 7.8R
Kohinoor Power 126 2.59 4.79 4.26 4.17 4.24 -0.55 64305 6.10 4.09 - - - -
Kot Addu Power 8803 4.81 39.69 39.80 39.51 39.60 -0.09 215795 42.95 38.35 64.5 - 50 -
Nishat Chunian Power Ltd 3673 3.40 14.99 15.80 14.60 15.51 0.52 4399694 15.80 10.00 - - - -
Nishat Power Ltd 3541 26.29 15.77 16.70 15.68 16.30 0.53 11318695 16.70 9.75 - - - -
Sitara Energy Ltd 191 3.44 18.51 18.50 18.45 18.46 -0.05 750 23.49 17.98 20 - 20 -
Southern Electric 1367 - 2.18 2.19 2.12 2.12 -0.06 448923 2.90 2.05 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
FIXED LINE TELECOMMUNICATION
Performance of SR Fixed Line Telecommunication Index
Open High Low Close Change % Change
1,158.93 1,176.23 1,139.48 1,146.39 -12.54 -1.08
Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High
2,521,047 - - 50,077.79 mn 79,338.59 mn 1,158.93
P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low
6.25 0.80 12.84 62.56 10.02 1,128.56
Pak Datacom 78 4.90 80.00 80.00 79.00 79.34 -0.66 1236 117.99 78.00 70 - 80 -Pakistan Telecomm Co A 37740 13.01 19.74 19.99 19.41 19.51 -0.23 819156 20.12 17.55 15 - 17.5 -Telecard XD 3000 0.65 2.26 2.32 2.15 2.18 -0.08 550661 2.69 1.80 - - 1 -WorldCall Tele 8606 - 2.62 2.74 2.62 2.66 0.04 1149994 2.98 2.31 - - - -Wateen Telecom Ltd 6175 - 3.52 3.60 3.41 3.47 -0.05 616518 4.50 3.35 - - - -
Paid up Last 60 days 2009 2010
Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR
(%) (%) (%) (%)
Atlas Insurance 369 5.92 37.50 37.95 37.00 37.24 -0.26 4762 37.95 27.10 40 10B - -
Century Insurance 457 7.08 11.33 11.38 10.82 11.32 -0.01 902 12.00 9.42 - - - -
EFU General Insurance 1250 - 46.17 46.89 45.50 45.59 -0.58 13672 48.63 34.76 40 8.7B - -
Habib Insurance 400 3.00 12.90 13.00 12.57 12.61 -0.29 28100 13.00 10.04 35 - - -
IGI Insurance 718 16.72 91.00 92.00 90.00 90.12 -0.88 1250 92.89 68.27 35 - 10 20B
New Jub Insurance 791 15.68 58.50 59.00 58.00 58.18 -0.32 2497 60.50 52.21 30 20B - -
Pak Reinsurance 3000 42.13 16.43 16.78 16.41 16.43 0.00 415040 17.20 12.50 30 - - -
PICIC Ins Ltd 350 - 6.97 6.40 6.35 6.35 -0.62 5037 8.30 1.66 - - - -
Premier Insurance 303 5.70 10.50 10.55 10.16 10.54 0.04 201 10.55 8.00 20 15B - -
Reliance Insurance XB 252 3.99 6.55 6.56 6.50 6.51 -0.04 10380 7.70 6.10 - - - -
Silver Star Insurance 253 4.20 7.00 6.81 6.76 6.77 -0.23 1000 8.17 6.01 - 20B - -
UPTO 100 VOLUME
NBF 3.25 3.60 3.60 3.60 0.35 100
FANM 3.07 3.00 3.00 3.00 -0.07 100
TRIBL 1.70 1.70 1.70 1.70 0.00 100
CSIL 4.01 4.25 4.25 4.25 0.24 100
FCIBL 3.32 3.80 3.80 3.80 0.48 91
SIEM 1300.00 1330.00 1299.10 1307.10 7.10 83
WYETH 1006.25 1056.56 1000.00 1049.00 42.75 53
NMBL 1.50 1.40 1.40 1.40 -0.10 52
FASM 35.99 36.75 34.20 34.20 -1.79 52
SIBL 2.90 2.58 2.58 2.58 -0.32 50
PGCL 20.70 21.10 21.10 21.10 0.40 50
FIBLM 3.53 2.53 2.53 2.53 -1.00 45
SCLL 2.60 2.70 2.50 2.50 -0.10 25
NSRM 11.17 12.17 12.17 12.17 1.00 25
KSBP 70.00 70.00 70.00 70.00 0.00 20
AGSML 4.78 5.78 4.65 5.00 0.22 18
IDYM 274.95 288.60 274.95 278.92 3.97 16
ATFF 4.20 4.20 4.20 4.20 0.00 14
GATI 41.30 42.52 39.50 41.90 0.60 14
FNEL 8.98 9.00 8.20 8.93 -0.05 11
GSPM 7.55 7.64 7.63 7.63 0.08 11
HWQS 20.75 21.78 20.00 21.78 1.03 11
RCML 33.99 34.50 34.50 34.50 0.51 10
TOWL 12.90 12.00 12.00 12.00 -0.90 10
ULEVER 4105.00 4128.00 4050.00 4085.50 -19.50 10
COLG 852.00 889.99 850.00 850.00 -2.00 7
GRYL 1.61 1.98 1.01 1.51 -0.10 6
UNIC 6.40 6.40 6.40 6.40 0.00 6
JDWS 86.65 87.50 87.00 87.00 0.35 6
JOPP 8.05 7.66 7.30 7.66 -0.39 6
FZTM 408.99 419.00 410.00 412.67 3.68 4
YOUW 1.50 1.40 1.15 1.38 -0.12 4
RMPL 1972.00 2066.00 1876.00 2001.65 29.65 4
FRCL 2.18 2.25 2.00 2.13 -0.05 4
DSML 2.63 2.21 2.21 2.21 -0.42 3
ICL 28.75 28.00 27.32 27.41 -1.34 3
DIIL 11.19 10.25 10.23 10.25 -0.94 3
DREL 639.99 639.99 608.00 639.99 0.00 3
AHI 17.54 17.79 17.79 17.79 0.25 2
PKGI 6.90 6.50 6.10 6.50 -0.40 2
BILF 1.92 1.89 1.15 1.52 -0.40 2
SALT 55.04 57.75 57.74 57.74 2.70 2
KTML 5.53 5.80 5.76 5.76 0.23 2
CJPL 0.80 0.99 0.80 0.80 0.00 2
PECO 291.54 301.84 285.00 285.00 -6.54 2
BAPL 8.80 9.80 9.15 9.80 1.00 2
FNBM 6.49 6.88 6.87 6.87 0.38 1
TRSM 1.50 1.51 1.51 1.51 0.01 1
ESBL 2.80 2.90 2.84 2.84 0.04 1
MQTM 7.78 7.29 7.29 7.29 -0.49 1
SNAI 38.00 39.00 39.00 39.00 1.00 1
SHCM 9.90 10.00 10.00 10.00 0.10 1
ZTL 3.70 4.00 3.99 3.99 0.29 1
CRTM 19.55 18.62 18.62 18.62 -0.93 1
BTL 46.75 47.98 47.98 47.98 1.23 1
MFTM 1.00 1.29 1.25 1.25 0.25 1
AASM 24.61 24.18 24.01 24.18 -0.43 1
FECS 40.00 42.00 42.00 42.00 2.00 1
SHJS 95.60 100.00 99.00 99.00 3.40 1
KOHE 18.87 19.48 19.48 19.48 0.61 1
TSPL 1.07 1.03 1.03 1.03 -0.04 1
PTEC 2.00 2.25 2.25 2.25 0.25 1
ETNL 22.00 21.50 21.50 21.50 -0.50 1
EMCO 3.38 3.38 3.38 3.38 0.00 1
AKGL 5.00 5.50 5.50 5.50 0.50 1
ARPAK 15.00 16.00 16.00 16.00 1.00 1
Symbols Open High Low Close Change Vol
FUTURE CONTRACTS
NML-DEC 62.72 62.60 61.40 61.54 -1.18 826500
NBP-DEC 69.06 70.30 69.51 69.88 0.82 750000
DGKC-DEC 31.09 31.80 31.11 31.57 0.48 537500
MCB-DEC 208.20 218.25 209.49 217.38 9.18 494000
POL-DEC 276.96 278.80 275.15 275.75 -1.21 263000
LUCK-DEC 77.05 77.99 77.10 77.78 0.73 192500
ANL-DEC 11.45 11.51 11.09 11.10 -0.35 137000
ENGRO-DEC 187.47 188.90 187.35 187.96 0.49 134500
FFBL-DEC 34.34 34.80 34.56 34.73 0.39 74500
AICL-DEC 82.86 83.78 82.25 82.56 -0.30 64500
PSO-DEC 288.99 290.40 286.25 286.73 -2.26 61000
PPL-DEC 203.01 204.00 202.00 202.34 -0.67 27000
PTC-DEC 19.88 19.81 19.60 19.60 -0.28 27000
OGDC-DEC 164.36 165.00 164.50 164.50 0.14 13000
UBL-DEC 61.51 63.40 63.35 63.35 1.84 13000
BOP-DEC 10.00 10.25 9.90 10.10 0.10 13000
NCL-DEC 23.60 22.85 22.85 22.85 -0.75 10000
Symbols Open High Low Close Change Vol
ZERO VOLUME
AASMR 0.50 0.45 0.45 0.45 -0.05 0.00
ADAMS 16.60 16.49 16.49 16.49 -0.11 0.00
ALQT 4.05 5.05 5.05 5.05 1.00 0.00
ANNT 13.00 12.85 12.85 12.85 -0.15 0.00
ANSS 6.25 6.20 6.20 6.20 -0.05 0.00
ASFL 2.50 2.61 2.61 2.61 0.11 0.00
BAFS 61.84 60.00 60.00 60.00 -1.84 0.00
BHAT 262.25 259.99 259.99 259.99 -2.26 0.00
CICL 60.10 59.99 59.99 59.99 -0.11 0.00
CPAL 2.47 2.40 2.40 2.40 -0.07 0.00
DNCC 2.50 2.60 2.60 2.60 0.10 0.00
GAIL 4.29 4.40 4.40 4.40 0.11 0.00
HUSI 10.64 9.70 9.70 9.70 -0.94 0.00
ILTM 131.20 137.76 137.76 137.76 6.56 0.00
JVDC 59.99 59.98 59.98 59.98 -0.01 0.00
KSTM 0.75 0.74 0.74 0.74 -0.01 0.00
RUBY 3.11 3.60 3.60 3.60 0.49 0.00
Symbols Open High Low Close Change Vol
Al-Abbas Cement 58.38 3.25 3.20 3.35 3.40 3.30
Allied Bank Limited 80.72 62.60 62.25 63.30 63.65 62.95
Attock Cement 54.43 63.00 61.95 64.50 65.00 63.50
Arif Habib Corp 56.76 25.60 25.40 26.05 26.35 25.85
Arif Habib Limited 47.86 26.20 26.00 26.70 27.00 26.50
Adamjee Insurance 62.51 81.10 80.30 83.10 84.30 82.30
Askari Bank 69.44 16.75 16.60 17.10 17.35 17.00
Azgard Nine 49.87 10.80 10.65 11.35 11.75 11.20
Attock Petroleum 55.62 321.25 319.10 326.00 328.60 323.85
Attock Refinery 50.22 115.30 112.55 123.10 128.10 120.30
Bank Al-Falah 65.32 10.00 9.90 10.15 10.25 10.10
BankIslami Pak 53.42 3.30 3.20 3.55 3.70 3.45
Bank.Of.Punjab 62.02 9.90 9.80 10.15 10.30 10.05
Dewan Cement 72.95 1.95 1.75 2.25 2.40 2.10
DGK Cement 70.76 31.05 30.60 31.90 32.40 31.50
Dewan Salman 79.84 2.35 1.90 3.10 3.45 2.65
Dost Steels Ltd 57.25 2.80 2.70 3.00 3.10 2.90
EFU General Insurance 54.89 45.10 44.60 46.50 47.40 46.00
EFU Life Assurance 61.44 80.55 79.05 84.95 87.85 83.45
Engro Chemical 63.48 186.10 185.45 187.50 188.15 186.80
Faysal Bank 52.76 14.75 14.55 15.20 15.35 14.95
Fauji Cement 46.13 4.85 4.80 5.00 5.10 4.95
Fauji Fert Bin 79.57 35.55 35.40 35.80 35.95 35.65
Fauji Fertilizer 69.96 113.85 113.35 115.10 115.85 114.60
Habib Bank Ltd 77.94 113.10 112.10 115.55 117.00 114.55
Hub Power 66.61 36.30 36.15 36.65 36.85 36.50
ICI Pakistan 64.53 136.30 135.55 138.50 139.95 137.75
Indus Motors 51.89 250.15 246.10 261.15 268.05 257.05
JOV and CO 55.11 4.05 4.00 4.25 4.40 4.20
Japan Power 62.57 1.75 1.65 1.85 1.90 1.80
JS Bank Ltd 48.48 2.60 2.55 2.70 2.75 2.65
Jah Siddiq Co 44.21 12.95 12.80 13.30 13.55 13.15
Kot Addu Power 45.99 39.50 39.35 39.75 39.95 39.65
K.E.S.C 68.01 2.35 2.25 2.50 2.55 2.40
Lotte Pakistan 76.14 12.65 12.50 13.00 13.20 12.85
Lucky Cement 61.53 76.75 76.00 78.00 78.50 77.25
MCB Bank Ltd 72.33 211.55 205.80 220.45 223.60 214.70
Maple Leaf Cement 46.90 2.85 2.80 2.95 3.00 2.90
National Bank 65.06 68.95 68.60 69.75 70.15 69.40
Nishat (Chunian) 50.35 22.05 21.75 22.95 23.50 22.60
Netsol Technologies 51.61 18.95 18.80 19.40 19.65 19.20
NIB Bank 57.05 2.90 2.85 3.00 3.05 2.95
Nimir Ind.Chemical 55.02 1.50 1.45 1.60 1.65 1.55
Nishat Mills 68.58 60.55 60.05 61.90 62.80 61.40
Oil & Gas Dev. XD 73.70 165.95 165.45 167.00 167.55 166.50
PACE (Pakistan) Ltd. 54.08 2.80 2.70 3.05 3.15 2.95
Pervez Ahmed Sec 52.90 2.15 2.10 2.35 2.45 2.30
P.I.A.C.(A) 45.54 2.20 2.15 2.30 2.35 2.25
Pioneer Cement 40.83 7.00 6.90 7.15 7.20 7.05
Pak Oilfields 67.02 271.95 270.20 276.65 279.55 274.90
Pak Petroleum 62.54 201.05 200.10 203.45 204.85 202.50
Pak Suzuki 42.12 71.85 70.85 73.95 75.05 72.95
PSO XD 55.85 282.40 280.65 287.50 290.85 285.75
PTCLA 53.89 19.30 19.05 19.85 20.20 19.65
Shell Pakistan 56.14 197.50 195.25 201.50 203.25 199.25
Sui North Gas 29.33 26.55 26.20 27.45 28.00 27.10
Sitara Peroxide 59.24 13.25 13.00 13.85 14.20 13.60
Sui South Gas 33.80 20.85 20.30 22.05 22.70 21.50
Telecard 41.51 2.10 2.05 2.30 2.40 2.20
TRG Pakistan 35.90 3.70 3.55 4.10 4.35 3.95
United Bank Ltd 78.08 62.35 61.65 63.60 64.15 62.90
WorldCall Tele 54.73 2.60 2.55 2.70 2.80 2.65
Company RSI 1st 2nd 1st 2nd Pivot
(14-day) Support Resistance
TECHNICAL LEVELS
Mehran Sugar Mills 7-Dec 11:00
Byco Petroleum Limited 7-Dec 1:00
Hala Enterprises Ltd 8-Dec 10:30
Sigma Leasing Corporation Ltd 8-Dec 11:00
Fauji Fertiliser Bin Qasim Ltd 23-Dec 10:30
BOARD MEETINGS
Company Date Time
Tuesday, December 7, 2010 8
KARACHI:- Overseas Sales Manager QMobile Gary, Famous Model Iman Ali & CEO QMobile
Mian Zeeshan Pervez Akhter display “She Q55 Mobile" here in a local hotel.-Staff Photo
ISLAMABAD: PakistanTelecommunication Authority(PTA) has issued its AnnualReport 2010 highlightingachievements and performanceand an overview of the telecomsector's growth.
According to report, in termsof statics, total teledensity ofthe country reached 64.08 percent in FY10 showing a growthof 3.5 per cent since FY09.
Pakistan mobile sector hassurvived tough times and tele-com indicators have stabilisedwith timely and prudent strate-gies. Number of mobile users
touched 100-million-mark atthe end of July 2010 withmobile penetration of 60.4 percent.
Total telecom sector rev-enues reached Rs357.7 billionin 2009-10 with investment ofover $1.13 billion showing 11per cent growth over last year.
Telecom sector revenuesimproved steadily in the FY10and 6.5 per cent growth ratewas witnessed.
The PTA contributedRs201.43 million to the PrimeMinister's Flood Relief Fund2010.-APP
Teledensityhits 64.08pc
PTA issues Annual Report 2010
NEW DELHI: The Indian gov-ernment will send 85 notices totelecom operators questioningtheir licences, the new telecomsminister said on Monday, thelatest move in a telecom corrup-tion scam that has paralysedIndia's parliament.
Kapil Sibal took the top spotin India's telecom ministry earli-er this month after AndimuthuRaja was forced to resign,accused of granting 2G spec-trum and licences at low pricesand, according to an officialwatchdog unit, possibly costingthe state $39 billion in revenue.
Speaking to reporters at apress conference on Monday,Sibal said many of the compa-nies, which went through a self-certification process, were noteligible for the 2G licencesgranted in 2007 and 2008.
"This has serious implicationsfor transparency of process,"Sibal said. "It allows companies
to get ahead of the queue onbasis of first come first served,in that they did not register firstwith the registrar of compa-nies," he said.
Notices will be sent to thecompanies mentioned in areport by the Indian governmentauditor, Sibal said.
That report named Uninor, a unitjointly owned by Unitech andNorway's Telenor, Etisalat DBTelecom, into which SwanTelecom and Allianz Infratech latermerged, Loop Telecom, VideoconTelecommunications and S Tel.
Sibal said the companieswould have 60 days to reply and52 weeks to fulfill rollout obli-gations, failing which theirlicences could be revoked.
Uninor said it would issue astatement later. S Tel andVideocon could not be immedi-ately reached for comment.Loop declined comment.
"Once the company receives
the show cause notice, we willseek legal counsel and respondto the notice," a senior execu-tive at Etisalat DB said on con-dition of anonymity, adding thecompany was fully compliantwith its licences and had ful-filled its minimum rollout obli-gations.
Last week, the Supreme Courtcriticised Prime MinisterManmohan Singh for his appar-ent delay in probing the widen-ing scandal, potentially one ofthe biggest to hit India.
The government has resistedadditional probes, saying a CBIinvestigation is under way. Thescandal has now engulfed par-liament as opposition partieshave kept it shut sinceNovember 9 over demands for afull parliamentary investigation.
Sibal said he did not expectforeign interest in the telecomsector to be affected by theprobe.-Reuters
India’s 85 telcosin the line of fire
ISLAMABAD: FederalMinister for Finance andRevenue Abdul Hafeez Shaikhhas informed the NA commit-tee on Information Technologyand Telecommunication thatprivatisation of PTCL requiredincamera session because therewere a number of matters thatcould have hurt the brotherlyrelationships of Pakistan andUAE.
However, he briefed thecommittee about the process ofprivatisation process with spe-cial reference to PTCL.
The minister who was previ-ously the privatisation ministertold the members that severalinquiries were carried outabout this privatisation trans-action and the usual routine ofprivatisation was changed.
He said Khawaja Asif,Fouzia Wahab and others wereincluded in the privatisationcommittee of PTCL and other
public entities at that time. After reaching consensus,
privatisation of the PTCL wasdecided - that was before theentity started incurring losses.
The privatisation of PTCLwas unique in its statusbecause as the days of privati-sation drew nearer, strongresistance erupted within theorganisation.
Powerful union of PTCLwent a step further and createdlaw and order situation.
The committee was informedthat the CEO was not includedin the bidding process and No2 of the Etisalat Company car-ried out all the bidding process.The Etisalat wanted to presenta revised biding price.
As there was a big gapbetween the highest bidderprice and the second bidder --the Etisalat wanted to forwardnew proposal for the transac-tion of PTCL.
The minister informed thecommittee that the governmenthad the right to confiscate $40million deposit of the Etisalat,adding that it was unique andpeculiar situation for the gov-ernment at that time that thebig bidder did not honour itscommitment.
"If we had allowed the com-pany to go away, the govern-ment would have lost $1.6 bil-lion higher bid value," he saidadding that later on, it wasdecided to put pressure onEtisalat through of the UAE.
After several negotiationsand meetings, it was decided totake at least $1.6 billion initial-ly from Etisalat and theremaining amount in differentinstallments.
After protracted negotia-tions, the transaction was pre-sented in the Cabinet forapproval, which gotapproved.-APP
PTCL selloff beggedsecrecy, care: Shaikh
NEW YORK: Motorola hasannounced it will split inJanuary into two companies,one focusing on cellphones andInternet and the other on profes-sional equipment, in a bid toboost its performance.
The telecommunicationsequipment giant said it wouldsplit into Motorola Mobility andMotorola Solutions on January 4,2011. Motorola shareholders willreceive one share of MotorolaMobility for every eight sharesof current Motorola shares theyhold, the Illinois-based companysaid in a statement.
"This announcement marksanother important milestonetoward the upcoming separationthat is expected to benefit
Motorola, its stockholders, aswell as each company's respec-tive customers and employees,"Greg Brown and Sanjay Jha,Motorola co-chief executives,
said in the statement.Brown is the future CEO of
Motorola Solutions and Jha isCEO of Motorola Mobility.
"We look forward to takingadvantage of the opportunitiesbefore us as we begin the newyear as two independent, publiclytraded companies," they said.
Motorola Mobility will focuson the media, mobility, Internetand computing markets whileMotorola Solutions will targetnext-generation communica-tions solutions to government,public safety and enterprise cus-tomers, it said.
On January 4, Motorola willchange its name to MotorolaSolutions and will begin tradingon the New York StockExchange under the ticker sym-bol MSI; Motorola Mobilitywill trade under MMI.
Motorola shares were up 0.1 percent in after-hours trading.-APP
Motorola set totwin next month
LAHORE: Mobilink is the firstmobile operator to launchWindows® Phone 7 poweredHTC HD7 smartphone inPakistan.
The HTC HD7 smartphonefeatures the latest Windows®Phone 7 platform whichincludes cutting-edge technolo-gies and a series of uniqueapplications that complementsthe Windows® Phone 7 Huband Tile experience. Launchedunder the umbrella ofMobilink's post-paid brandIndigo, the HTC HD7 smart-phone is bundled with FREEGPRS for the first three months.
Powered by Microsoft's latestWindows® Phone 7 platform,HTC HD7 is a cutting-edgesolution offering a powerfulrange of innovative online serv-ices, keenly sought by high-endusers, online social-networkingenthusiasts, bloggers and cor-porate professionals alike.
The Windows® Phone 7 alsointegrates with many popularMicrosoft services such asOffice in the smartphone.
The HTC HD7 smartphoneallows you to watch movie in
style on a huge 4.3 inchwidescreen display with kick-stand. With the 1Ghz processor,the HTC HD7 provides you withan exhilarating browsing experi-ence and access to your multi-media and social network. Withthe 16GB built-in memory, userscan store a huge library of 720pHD videos, music and games.
Mobilink was the first cellularoperator to launch BlackBerryin Pakistan. ProvidingBlackBerry Services and 360-degree after sales support tothousands of Indigo customers,it is also the only operatorworking directly with the man-ufacturers RIM (Research inMotion).
Mobilink was also the firstcellular operator to launch theandroid handset, MotorolaMilestone in local market earli-er this year. With the launch ofHTC HD7, Mobilink yet againbecomes the first cellular opera-tor to introduce the firstWindows® Phone 7 platformbased smartphone, the latesttechnology for ultimate 360degree connectivity inPakistan.-NNI
Mobilink debutsHTC smartphone
KUWAIT: Securities GroupCo, a brokerage firm that hasopposed the structure of deal tosell 46 per cent of Kuwaiti tele-com group Zain to Etisalat nowwants to join the deal, a news-paper reported on Monday.
Al-Qabas daily said, withoutciting sources, that SecuritiesGroup has "informed the sell-ing consortium ... it wants tojoin with shares owned by itsclients."
Securities Group chairman,Ali al-Mousa, confirmed thereport to Reuters on Monday,
but declined to provide anydetails.
Etisalat, the Gulf's second-largest telecom operator by mar-ket value, has bid 1.7 Kuwaitidinars per share for a 46 per centstake in Zain in a deal worth justunder $12 billion.
The bid won the backing ofmajor Zain shareholderKharafi Group which begangathering a consortium ofshareholders to tender shares toEtisalat.
But Securities Group, unhap-py at not being part of the deal,
ran an advertisement inKuwaiti papers in October,offering Zain shareholders1.65 dinars per share to try andcounter the offer. However, thebourse vetoed the bid saying itwas in contravention of its reg-ulations.
Al Fawares Holding, whichowns 4.5 per cent of Zain, alsoopposes the sale process, andhas threatened to sue potentialbuyers of the Zain's Saudi unit,which is slated for divestmentas part of the Etisalat deal.-Reuters
Brokerage takes U-turnabout Zain-Etisalat deal
Nortel to sellChina JVassets toEricsson
LONDON: Nortel NetworksCorp, the fallen Canadian tele-com giant, said it will sell near-ly all assets of its Chinese jointventure to Ericsson's China unitfor $50 million in cash. Thejoint venture -- GuangdongNortel TelecommunicationEquipment (GDNT) -- is aresearch, development andmanufacturing firm in whichNortel's units, Nortel NetworksLtd and Nortel China, own 62per cent.
GDNT became a supplier toEricsson after the Swedishmobile network equipmentmaker bought Nortel's CDMAand GSM businesses. Nortel,once North America's biggesttelecommunications equipmentmaker, filed for bankruptcyprotection in January 2009 andhas been auctioning off its busi-ness in an effort to pay backdebtholders.
All employees of the jointventure will be offered employ-ment with Ericsson, Nortel saidin a statement.
Nortel expects to close thesale in the first quarter of2011.-Reuters
Veil taken off
QMobile’s
belle cell M Imran Sharif
KARACHI: QMobile haslaunched -the alluring, classyand stylish 'SHE' Q55 Phone,which stands as Pakistan'sfirst mobile phone speciallydesigned to meet the taste andtrends of today's females.
"SHE is much more thanjust a design & fashionphone," says Mian ZeeshanAkhtar, CEO QMobile."Modern consumer buyingtrends are governed as muchby emotion as by productspecification and the QMobile"SHE" Q55 Phone impres-sively meets on both levels."An entirely unique, utterlydesirable and yet affordablemobile phone that serves theextensive purpose of looksand features.
"SHE" is Enlightened withSwarovski Element and excit-ing features including one-touch access to Facebook,multi-instant Messenger, asmart 2MP Camera and pre-loaded Opera mini browser.The "SHE" Q55 Phone is alsoloaded with Dual SIM GSM-Dual-Band and comes with a2.4 inch (6 cm) QVGA dis-play with a full QWERTYkeypad giving it a sturdy feelwhen handled. Additionally,the "She" Q55 Phone has amulti format (MP3 / AMR /MIDI 1 WAV) music playerwith Stereo FM Radio andBluetooth.
Vodafone’sPolkomtel,SFR stakenear sale
PARIS: Vodafone is close toselling its 44 per cent stake inmobile phone operator SFR toFrance's Vivendi, paving theway for Vodafone buy back 5billion pounds ($7.9 billion) inits own shares in 2011, a UKnewspaper said.
Analysts have valued SFR atas much as 8 billion euros($10.74 billion).
Vivendi has long been seenas a likely acquirer of telecomgroup Vodafone's SFR stake.Vivendi Chief Executive Jean-Bernard Levy said last monththat taking full control of SFRwas a top priority for the com-pany.
The Observer newspapersaid Vodafone was also closeto announcing an 800 millionpound deal involving the dis-posal of its stake in Polishphone group Polkomtel.
Four people familiar withthe matter told Reuters lastmonth that Polish mediamogul Zygmunt Solorz-Zakcould wade in to the multi-bil-lion euro bid battle forPolkomtel.
Sources had also toldReuters in October thatVodafone was set to appointGoldman Sachs to advise it ona possible sale of its Polkomtelstake.
Vodafone declined to com-ment on The Observerreport.-Reuters
Nokia OviStore hitsmilestone
Staff Reporter
KARACHI: According tostatement issued hereNokia Ovi Store hasreached 3 million down-loads per day, a milestonespurred by overall globaldemand and a recent updatethat gives users of Nokia'snew Symbian smartphonefamily a friendlier look andfeel as well as more popu-lar apps and games.
The company is alsogaining significant soft-ware developer momentumwith more than 400,000signing on to Nokia in thepast 12 months and 92 sur-passing the million down-load milestone for theirapps.
In related news, theNokia Qt SoftwareDevelopment Toolkit(SDK) and the Qt SDKcombined have been down-loaded 1.5 million times asdevelopers discover thisapproach can improve thespeed and efficiency of cre-ating apps for mobiledevices, including smart-phones such as the newNokia N8, Nokia C7 andNokia C6-01, which areshipping, and the recentlyannounced Nokia E7.
KARACHI: Telenor Regional Director Sales & Distribution, South-1 Ahmed Nadeem Pasha along
with winners of "Malaamal Campaign" Abdul Hameed (Hafsa Communication, left), and Adil
Khan (Adil Communication).-Staff Photo
KUALA LUMPUR:
Malaysian crude palm oil hit a29-month high on Monday as aweaker dollar spurred risk-tak-ing and on spillover supportfrom wheat prices, which arebeing bolstered by concernsover Australia's grains output.
Palm oil has climbed by morethan a third this year, with thebiggest weekly gain so far thisyear last week on bullish fore-casts from key industry analystsat an Indonesian conferenceand erratic weather hittinggrains and oilseed regions.
Heavy rains in Australia havesparked concerns about the qual-ity of wheat supplies, lifting USwheat futures and supportingother agricultural commodities."The market expectation of palmoil stocks falling in November
added to the rally on tight grainsupplies and the weaker dollar,"said a trader with a foreign com-modities brokerage.
The Malaysian crude palm oilcontract jumped 2.8 per cent to3,618 ringgit ($1,150) a tonne, alevel unseen since July 4, 2008,before settling at 3,610 ringgit.Traded volume more than dou-bled from normal to 27,666 lotsat 25 tonnes each on short cov-ering ahead of a Malaysian pub-lic holiday on Tuesday.
Malaysia's palm oil stocks prob-ably fell in November from nine-
month highs hit the previousmonth as output declined on heav-ier rains and exports climbed, aReuters poll showed on Monday.Other vegetable oils gained on therally in wheat. US soyoil forDecember delivery edged up 0.8per cent in Asian trading hours,while the most active September2011 soyoil contract on China'sDalian Commodity Exchangerose 1.3 per cent. Crude oilextended its rally into a fourthstraight session on Monday to a25-month high as the dollar con-tinued to languish. -Reuters
Palm oil hits 29-mthhigh on weather, USD
9Tuesday, December 7, 2010
POLYPROPYLENE(PP) LINEAR LOW (LL)
Cash & Settlement 1310 1250
December (3rd Wednesday) 1320 1260
January (3rd Wednesday) 1320 1260
LONDON METAL EXCHANGE (PLASTIC)
LME Official Prices, US$ per tonne for December 03 2010
LME Official Prices, US$ per tonne for December 03 2010
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC
ALLOY
Cash buyer 2240 2322 8753 2330 23500 25400 2210 2220
Cash seller 2250 2324 8754 2330.5 23505 25450 2211 2221
3-months buyer 2210 2336 8706 2350 23550 25350 2210 2260
3-months seller 2220 2337 8707 2355 23600 25355 2210.5 2270
15-months buyer 2165 2397 8445 2308 23050 24925 2243 2280
15-months seller 2175 2402 8455 2313 23150 24975 2248 2290
27-months buyer 2165 2438 8055 2263 22425 2218 2330
27-months seller 2175 2443 8065 2268 22525 2223 2340
LONDON METAL EXCHANGE (METALS)
LONDON: Oil eased from a26-month high near $90 onMonday as the dollar strength-ened, countering support fromhigher demand caused by coldweather in Europe and parts ofthe United States.
US crude, also known asWTI, was down 8 cents at$89.11 by 1452 GMT. It tradedas high as$89.76 earlier inthe session, thehighest intradaysince Oct. 9,2008. Brentcrude was up 11cents to $91.53.
"We've had abit of a pullback -- $90 is beinga sticking point for WTI at themoment and we had a little dipbecause of the euro," said RobMontefusco, a trader at SucdenFinancial.
"Going forward, we mightget a bit of a lift and push upagain."
Analysts said the cold spellin Europe and in parts of theUnited States should limit thedownside for prices, becauseof greater heating demand.
"The cold weather on both
sides of the Atlantic will likelyprevent any meaningfuldeclines from setting in thisweek," said Edward Meir, ana-lyst at MF Global, in a report.
DTN Meteorlogix, a privateforecaster, expects tempera-tures in the US Northeast toaverage near to below normalover the next six to 10 days and
below normal in northwestEurope.
US heating demand thisweek is expected to be morethan 16.3 per cent above nor-mal, the National WeatherService forecast.
Oil is moving into backwar-dation, where prompt pricesare higher than those for deliv-ery later.
The price structure, associat-ed with tight supplies, coulddraw in buyers, analysts said.
"This backwardation, which
was rarely evident in the pastfew years, is likely to bringmore buyers into the arena,"analysts at Commerzbank saidin a report.
Other analysts are calling foroil's rally to go further due tosigns of a tightening marketand falling inventories.
At least five banks raisedtheir mid- orlong-term priceforecasts lastweek, citingfactors such asrising demandin emergingmarkets, fasterglobal econom-
ic growth and OPEC's reluc-tance to boost output.
For example, JP Morgan saidon Friday oil would top $100in the first half of 2011 and$120 before the end of 2012,predicting OPEC would bevery slow to react to higherprices. The Organization of thePetroleum Exporting Countriesmeets on Dec. 11. Rather thanraise output to curb prices,OPEC is likely to roll overexisting policy, ministers havesaid. -Reuters
Oil eases after reaching2-year high near $90
Europeanvegetableoil prices
ROTTERDAM: The follow-ing were the Monday'sRotterdam vegetable oil price'sat 22:00 PST.
SOYOIL: EU degummedeuro tonne fob exmillJan11/Apr11 990.00,May11/Jul11 988.00+13.00.
RAPEOIL: Dutch/EU eurotonne fob exmill Feb11/Apr11995.00+10.00, May11/Jul11995.00+10.00, Aug11/Oct11955.00+12.00, Nov11/Jan12960.00+15.00.
SUNOIL: EU dlrs tonneextank six ports option Jan111445.00, Feb11/Mar111420.00+5.00, Apr11/Jun111385.00+5.00, Jul11/Sep111410.00+10.00.
LINOIL: Any origin dlrstonne extank RotterdamDec11/Jan12 1280.00-10.00.
CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Dec101197.50+15.00, Jan111197.50+17.50, Feb11/Mar111192.50+17.50, Apr11/Jun111177.50+22.50.
PALMOIL: RBD dlrs tonnecif Rotterdam Jan11 1230.00,Feb11/Mar11 1222.50.
PALMOIL: RBD dlrs tonnefob Malaysia Jan111185.00+22.50, Feb11/Mar111177.50+22.50.
PALM OLEIN: RBD dlrstonne fob Malaysia Jan111195.00+22.50, Feb11/Mar111185.00+20.00, Apr11/Jun111160.00+15.00, Jul11/Sep111142.50+17.50.
COCONUT OIL: Phil/Indondlrs tonne cif RotterdamDec10/Jan11 1610.00+20.00,Jan11/Feb11 1610.00+20.00,Feb11/Mar11 1610.00+20.00.
CASTOROIL: Any origindlrs tonne extank RotterdamFeb11/Mar11 1925.00+0.00. -Reuters
National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest
Date Quotation in lots Settlement Settlement in Lots
Price Price
6-Dec-2010 CRUDE100 JA11 US$ Per Barrel 88.09 89.76 87.15 89.26 248 89.34 89.26 87
6-Dec-2010 CRUDE100 FE11 US$ Per Barrel 88.57 90.17 87.69 89.64 91 89.74 89.64 17
6-Dec-2010 CRUDE100 MA11 US$ Per Barrel 88.92 89.91 88.92 89.91 - 90.01 89.91 -
6-Dec-2010 SILVER - SL500 JA11 US$ Per Troy Ounce 28.75 29.95 28.71 29.80 208 29.75 29.80 58
6-Dec-2010 SILVER - SL500 FE11 US$ Per Troy Ounce 28.72 29.81 28.72 29.81 - 29.75 29.81 -
6-Dec-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1387.70 1419.50 1386.50 1415.40 1,430 1413.20 1415.40 1,098
6-Dec-2010 GOLD 01oz FE11 US$ Per Troy Ounce 1389.00 1420.00 1387.00 1415.90 2,313 1413.80 1415.90 865
6-Dec-2010 GOLD 01oz MA11 US$ Per Troy Ounce 1388.50 1421.00 1388.00 1417.00 1,118 1414.80 1417.00 446
6-Dec-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1388.20 1415.40 1388.20 1415.40 - 1413.20 1415.40 -
6-Dec-2010 GOLD 100oz FE11 US$ Per Troy Ounce 1388.50 1415.90 1388.50 1415.90 30 1413.80 1415.90 4
6-Dec-2010 GOLD 100oz MA11 US$ Per Troy Ounce 1389.80 1415.90 1389.80 1415.90 - 1414.80 1417.00 -
6-Dec-2010 GOLD DE10 Per 10 grms 38572.00 39010.00 38275.00 39010.00 5 38980.00 39010.00 4
6-Dec-2010 GOLD JA11 Per 10 grms 38400.00 39100.00 38287.00 39022.00 20 38992.00 39022.00 25
6-Dec-2010 GOLD FE11 Per 10 grms 38302.00 39037.00 38302.00 39037.00 - 39007.00 39037.00 -
6-Dec-2010 KILOGOLD DE10 Per 10 grms 38248.00 38983.00 38248.00 38983.00 - 38953.00 38983.00 -
6-Dec-2010 KILOGOLD JA11 Per 10 grms 38259.00 38983.00 38259.00 38983.00 - 38964.00 38994.00 -
6-Dec-2010 TOLAGOLD50 DE10 Per Tola 44624.00 45482.00 44624.00 45482.00 - 45447.00 45482.00 -
6-Dec-2010 TOLAGOLD100 DE10 Per Tola 44624.00 45482.00 44624.00 45482.00 - 45447.00 45482.00 -
6-Dec-2010 MINIGOLD MON Per 10 grms 39311.00 40111.00 39311.00 40111.00 - 40081.00 40111.00 -
6-Dec-2010 MINIGOLD TUE Per 10 grms 39352.00 40055.00 39352.00 40055.00 - 40025.00 40055.00 -
6-Dec-2010 MINIGOLD WED Per 10 grms 40000.00 40069.00 39366.00 40069.00 3 40039.00 40069.00 3
6-Dec-2010 MINIGOLD THU Per 10 grms 39380.00 40083.00 39380.00 40083.00 - 40053.00 40083.00 -
6-Dec-2010 MINIGOLD FRI Per 10 grms 39393.00 40097.00 39393.00 40097.00 - 40067.00 40097.00 -
6-Dec-2010 TOLAGOLD MON Per Tola 46031.00 46119.00 45187.00 46119.00 2 46084.00 46119.00 2
6-Dec-2010 TOLAGOLD TUE Per Tola 45876.00 46055.00 45234.00 46055.00 15 46020.00 46055.00 10
6-Dec-2010 TOLAGOLD WED Per Tola 45250.00 46071.00 45250.00 46071.00 - 46036.00 46071.00 -
6-Dec-2010 TOLAGOLD THU Per Tola 45265.00 46087.00 45265.00 46087.00 - 46052.00 46087.00 10
6-Dec-2010 TOLAGOLD FRI Per Tola 45281.00 46103.00 45281.00 46103.00 - 46068.00 46103.00 5
6-Dec-2010 IRRI6W 09DE10 Per 100 kg 2402.00 2402.00 3287.00 3303.00 - 3287.00 3303.00 -
6-Dec-2010 RICEIRRI - 6 DE10 Per 100 kg 3294.00 3310.00 3294.00 3310.00 - 3294.00 3310.00 -
6-Dec-2010 RBD PALMOLEIN DE10 Per Maund 4830.00 4890.00 4830.00 4890.00 - 4830.00 4890.00 -
6-Dec-2010 KIBOR3M 10-Dec Per Rs. 100 86.54 86.54 86.53 86.53 - 86.54 86.53 -
6-Dec-2010 KIBOR3M 11-Mar Per Rs. 100 85.55 85.94 85.55 85.94 - 85.93 85.94 -
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Indian sugarsnaps 5-day
losing streakMUMBAI: India's spot sugarsnapped a five-day losingstreak on Monday as millersrefused to lower prices further,though weak demand and high-er supplies weighed on senti-ment, dealers said.
"Demand was weak. Pricesmay fall further as this month'snon-levy sugar quota is higherthan demand," said Ashok Jain,president, Bombay SugarMerchants Association(BSMA).
The country has made avail-able 1.5 million tonnes of non-levy sugar for December, high-er than 1.4 million tonnes it hadreleased for November, thegovernment said in a statement.
Non-levy, or free-sale, sugaris sold by millers in the openmarket, but the quantity eachmill can sell is fixed by the fed-eral government on a monthlybasis.
In Kolhapur, a key market intop-producing Maharashtrastate, the most traded S-varietyedged up by 0.21 per cent to2,774 rupees ($61.64) per 100kg.
Sugar output in Maharashtrarose by 11 per cent to 1.21 mil-lion tonnes so far in the2010/11 season that began onOct. 1, due to higher canecrushing, a senior industry offi-cial told Reuters. -Reuters
KOLKATA - INDIA: Traders sell fruit and vegetables on a road side market in Kolkata. -Agencies
LONDON: Copper hit a three-week high on Monday, with eco-nomic sentiment supported by theUS Federal Reserve chairmansaying more quantitative easingwas possible, but a weak euro andworries about Europe's debt prob-lems kept optimism in check.
Supporting the outlook for theUS economy, Federal ReserveChairman Ben Bernanke said thecentral bank could end up buyingmore than the $600 billion in USgovernment bonds it has commit-ted to purchase if the economyfails to respond or unemploymentstays too high.
Three-month copper on theLondon Metal Exchange ended at$8,770 a tonne, up from Friday'slast quote of $8,725/8,730 atonne. The red metal, used inpower and construction, earliertouched $8,802.50, its highestsince Nov. 12 and within reach ofits record high of $8,966 hit onNov. 11. On the LME, coppervolumes logged about a third oftypical levels, with some 9,096lots changing hands at 1708GMT. Still, worries about thepotential spread of debt problemsin the euro-zone kept pressure onthe market.
Market attention was on LMEstockpiles, where data since mid-November has shown one partyholding between 50 and 80 percent of the inventory. Britishnewspaper The Telegraph report-ed the buyer of the material wasJP Morgan.
Although stake holders of over
50 per cent of material are subjectto exchange lending guidance,which is set to ensure orderlytrade, more generally the large
position reflects a lack of avail-able metal in December, saidtraders. The premium for cashcopper remains at $46.50 a tonnealthough it has eased since Dec. 1when it settled at $63.5 a tonne,its highest in just over two years.
In general stocks of copper atLME warehouses have declinedsince February, indicating a pick-up in demand and against a back-drop of tight supply.
The latest data showed stocksfell 1,250 tonnes to 352,375tonnes. Aluminium was untradedat the close but last bid at $2,305a tonne from Friday's last quoteof $2,319/2,320.
Zinc ended at $2,220 fromFriday's close of $2,219.5 a tonneand battery material lead closedat $2,353 from a last quote of$2,338/2,340 a tonne. Tin, whichhit a near three week high at$25,750 earlier, was untraded atthe close but last bid at $25,450 atonne from $25,550, while nickelended at $23,600 a tonne from$23,500 a tonne.-Reuters
Copper hits 3-wk peak
on US economic outlook
Tokyo rubber
surges to
3-wk highTOKYO: Key Tokyo rubberfutures rose to a three-weekhigh on Monday supported by arise in oil prices, but a strongeryen limited their gains.
The key Tokyo CommodityExchange rubber contract forMay delivery settled up 2.1 percent, or 7.6 yen, at 378.0 yenper kg as after climbing as highas 378.8 yen, the highest forany benchmark since Nov. 11.
The most active Shanghairubber futures for May deliveryrose 470 yuan to close at32,835 yuan ($4,928) per tonneon Monday. Volume declined to0.78 million lots from 1.2 mil-lion lots on Friday.
Bridgestone Corp said it willraise prices for truck and bustyres by an average 7 per centeffective March 1 to offsethigher natural rubber prices,Jiji reported. It will be the firstprice increase since September2008, Jiji said.
Indian tyre makers havestopped signing new naturalrubber import deals as they aregetting the raw material morethan 15 per cent cheaper in thelocal market, dealers said. India,the world's fourth-biggest rub-ber producer, imports mainlyfrom Thailand, Malaysia andIndonesia. Rubber inventoriesin warehouses monitored by theShanghai Futures Exchange fell10.7 per cent from a week earli-er, the exchange said on Friday.-Reuters
Cocoa climbs,buoyed byIvory Coastuncertainty
LONDON: ICE cocoa futurestouched a four-month peak onMonday, buoyed by uncertain-ties over supplies due to disput-ed elections in top producerIvory Coast, while raw sugaredged lower and coffee inchedhigher.
Political uncertainty in IvoryCoast was the main driver in themarket that attracted some short-covering, but new technical buy-ing was triggered after ICEMarch cocoa rose above $2,970,attracting black box and systemfund dealers, the trader said.
ICE second-month cocoatouched a four-month high of$3,050, up $115 or almost 4 percent, at 1548 GMT.
Liffe second-month Marchcocoa hit a peak of 2,030pounds per tonne, a 3-1/2-month high, before losing a lit-tle ground to stand at 2,020pounds, up 61 pounds or 3.1 percent, at 1546 GMT.
Sugar futures edged down,underpinned by adverse weath-er in some producers and Indiandelays on deciding on howmuch sugar to export during theperiod before Brazil's next cropin 2011. ICE March raw sugarfutures were down 0.11 cent or0.4 per cent to 29.39 cents a lbat 1551 GMT, while Liffe whitesugar was up $5.20 or 0.7 percent to $745.20 per tonne inslim volume of 1,305 lots. LiffeMarch robusta coffee was up$12 or 0.6 per cent to $1,876per tonne in moderate turnoverof 3,328 lots at 1554 GMT,while ICE March arabicas wereup 5.10 cent or 2.50 per cent to$2.0990 per lb. -Reuters
Shanghai copper dipsThree-month copper on the
London Metal Exchange rose0.4 per cent to $8,762 a tonneby 0705 GMT, just over $200short of the record $8,966reached on Nov. 11. Shanghaicopper dipped 50 yuan to65,430 yuan.
LONDON: Gold held near itshighest since mid-Novemberon Monday as speculation USauthorities will have to furtherextend monetary easing andconcerns over euro-zone debtboosted interest in the metal asa haven from risk.
While strength in the US unitkept a lid on further gains indollar-priced gold, gold hitrecord highs in sterling termsand Japanese yen-denominatedbullion hit its highest sinceearly 1983 as risk aversion
stoked broad-based gains in themetal.
Spot gold was bid at$1,415.80 an ounce at 1504GMT, against $1,414.35 late inNew York on Friday. It toucheda record $1,424.10 early inNovember. US gold futures forDecember delivery rose $11.20an ounce to $1,417.40.
Sterling-priced gold reacheda record 904.02 pounds anounce, while gold denominatedin yen hit its highest since Feb.1983 at 117,541 yen an ounce.
Fresh concerns emerged overthe stability of the foreignexchange markets after FederalReserve Chair Ben Bernankesaid on Sunday the bank couldbuy more than the $600 billionin US government bonds it hascommitted to purchase.
"Gold is supported eitherway -- risk sentiment turning
sour, or (by) further weaknessin the greenback," said VTBCapital analyst AndreyKryuchenkov. "Clearly invest-ment demand is still there."
"While lingering concernsover euro-zone debt issuesmaintain safe-haven buying,the potential for a longer thanexpected period of expan-sionary monetary policy inthe US and Europe is pro-longing the precious metalsbull market," said MorganStanley in a note.
On the investment side of thegold market, the world's largestgold-backed exchange-tradedfund, SPDR Gold Trust, said itsholdings fell to 1,298.030tonnes on Friday.
Among other precious met-als, silver rose to a 30-yearhigh at $29.90 an ounce earlyon Monday, and was later at$29.81 an ounce against$29.36 late on Friday.
Net long positions in US sil-ver futures held by speculatorsrose by 12 per cent in the weekended Nov. 30, as momentumtraders jumped back into themarket.
Platinum was at $1,720.24 anounce against $1,725.50, whilepalladium was at $762.97against $758.40. Palladiumprices have benefited fromfirm ETF buying in recentweeks. -Reuters
Gold firm on Fedview, debt fears
Cold weather in US, Europe offers price support
10Tuesday, December 7, 2010
India's Singh and Khan play soccer duringa cricket practice session in Bangalore
Farhan lossesin World
Open squashMonitoring Desk
KARACHI: Pakistan's num-ber two squash player FarhanMehboob was sent packingafter succumbing to fifth-seedFrench Gregory Gaultier 3-0 inthe second round of the WorldOpen 2010 in Dammam.
Mehboob, ranked 28th in theworld, lost 11-6 against theFrench number one. He hadbarely hit back in the secondset before Gaultier recoveredto win 11-5 and then seal vic-tory in the third set 11-4.
"Gaultier is a tough nut tocrack," Mehboob told. "Mystrategy was to contain him inthe first set, and I tried my bestbut he has more experiencethan me. I tried everything.
"I tried to reinforce myself inthe second set but he was toostrong for me. Playing withhim is enjoyable and nerve-wrecking."
This was Mehboob's thirdencounter with Gaultier sincelast year, having lost his previ-ous two as well.
ABU DHABI: Fans at theFIFA Club World Cup in AbuDhabi on December 8-18will have to abstain fromdrinking alcohol and kissingin public, in keeping withMuslim sensitivities, a news-paper said on Monday.
"The FIFA World Cuporganising committee hasissued a long list of prohibi-tions which will be circulat-ed among fans from outsidethe country, including theban on drinking alcohol andkissing on the streets," saidEmarat Al-Yom.
The rules, printed onleaflets and to be distributedto fans upon arrival in theUnited Arab Emirates, alsowarned that using drugswhether in public or private
areas would result in prose-cution.
"We are a Muslim countrythat has its own customs andtraditions which should bepreserved. Something likethis should not anger the sup-porters," the organising com-mittee's spokeswoman,Shaza al-Rumaithy, told thedaily.
World football governingbody FIFA "supports" suchmeasures by any countryhosting an internationalchampionship, she said.
Italy's Inter Milan andSouth Korea's Seongnam areamong the clubs taking partthis year in the tournamentfor the winners of the world'scontinental championships.-Agencies
FIFA Club WC in Abu Dhabi
Alcohol, kissingbanned in public
LAHORE: Pakistani crickethero Wasim Akram onMonday urged players, fansand the media to move onfrom recent high-profile prob-lems and get behind the coun-try to win the 2011 WorldCup.
"Let's forget what problemswe've been going throughrecently and with a positiveframe of mind support thePakistan team to win nextyear's World Cup," Wasim saidin a rallying call during a cere-mony unveiling the trophy.
Pakistan has been blightedby a spot-fixing crisis, playersuspensions and poor gover-nance, with one-day captainShahid Afridi expressing alack of confidence in prepara-tions for the mega event.
Three key players - SalmanButt, Mohammad Asif andMohammad Aamer - wereprovisionally suspended bythe International CricketCouncil (ICC) over accusa-tions of spot-fixing duringthe tour to England in thesummer.
The trio appears before aICC code of conduct tribunalin Doha, Qatar next monthand face severe punishment,including lengthy bans.
Key players Kamran Akmaland Shoaib Malik have alsocourted suspicion and notbeen cleared by the under firePakistan Cricket Board (PCB)for recent tours.
Their participation in theFebruary 19-April 2 WorldCup looks uncertain.
Wasim urges Pakto unite for WC
M A N C H E S T E R :Manchester United willbecome the first team to gothrough the ChampionsLeague group stage withoutconceding a goal if they cankeep a clean sheet at home tofree-scoring Valencia onTuesday.
Their tight defence inEuropean games has been incontrast to erratic domesticperformances at the back andhas often been down to prom-ising displays by some of theiryounger players, who looklikely to be given the responsi-bility once again.
United and Valencia havealready qualified for theknockout round although topspot in Group C is still up forgrabs. The English club, whohave 13 points from fivegames, will win the group ifthey do not lose to theSpaniards, who are on 10.
With United facing impor-tant Premier League matchesagainst leaders Arsenal andchampions Chelsea in the nextfortnight, manager AlexFerguson's policy of giving hisyoungsters a run-around inEurope looks set to continue.
"We have some fantastic
young players at the back," 31-year-old Wes Brown, whoseplace in defence has some-times been taken by the newcrop, told the club magazineInside United.
"You could play a good backfive with some of them inthere; Ben Amos in goal,Rafael at right back, JonnyEvans and Chris Smalling inthe centre and Fabio at leftback. That is the next genera-tion."
While the gamble to experi-ment has paid off in theChampions League, a youthfulUnited side came crashing
down to earth last week whenthe holders lost 4-0 to WestHam United in the LeagueCup to end a 29-match unbeat-en run in all competitions.
FEWEST NUMBERSix clubs currently hold the
record for the fewest numberof goals conceded in theChampions League groupstage. Ajax Amsterdam,Chelsea, Juventus (twice),Liverpool, AC Milan andVillarreal share the honourwith one goal.
United got some extra restthis week as Saturday's leaguegame at Blackpool was post-
poned because of a frozenpitch, while Valencia's prepa-rations have been less thanideal.
They are still smarting fromSaturday's 2-0 defeat at RealMadrid when a harsh secondyellow card for midfielderDavid Albelda left them with aman less for the last 25 min-utes.
Up to then they had heldJose Mourinho's side, causingthem problems by crowdingthe midfield and breakingquickly. The extra spaceworked in Cristiano Ronaldo'sfavour and the former
Manchester United forwardscored twice in the closingstages.
They were, however, boost-ed by news goalkeeper CesarSanchez had been included inthe squad for the trip to north-west England. The first-choicekeeper has been sidelinedsince last month with a calfinjury but trained with theteam on Sunday.
Valencia, fifth in La Liga,travel to watertight Unitedwith one of the most potentstrike forces, having scored 14times in their five ChampionsLeague matches.-Reuters
Man United a clean sheet away from record
Nat’l womenhockeytourney
starts fromJan 4th
LAHORE: The 26th editionof National Women HockeyChampionship will be playedfrom January 4-12 at HockeyClub of Pakistan StadiumKarachi.
Preliminary rounds of theassociations will be playedfrom December 27 to January1 at respective centres and pre-liminary round of the depart-ments will be played fromDecember 27 to January 1 atNational Hockey StadiumLahore.
"In all 17 teams from theprovinces will take part in thepreliminary round of associa-tions. Eight team from Punjab,five from Sindh, one fromKhyber Pakhtunkhwa, twofrom Balochistan and one teamfrom Islamabad will take partin the event", said a spokesmanof Pakistan Hockey Federationhere on Monday.
At the end of the preliminaryround two teams from Punjab,two from Sindh, one fromKhyber Pakhtunkhwa, twofrom Balochistan and one teamfrom Islamabad will qualify forthe final round, he said.
Six departmental teams willtake part in the preliminaryround of departments.-APP
Sajjadbreaks well
in WorldSnooker
KARACHI: Pakistan's mer-curial cueist MuhammadSajjad got off to a sterling startin the IBSF World SnookerChampionship in Damascus(Syria) when he beat localplayer Karam Fatima 4-2,according to message receivedhere on Monday.
Asian championship runner-up Sajjad chalked out a breakof 108 to exhibit his class.
Sohail Shahzad, who hadmade a promising start byrouting Ibrahim AlkhderAlahmd of Syria 4-0, suffereddefeat in his second matchagainst Dutchman Roy Stolkby 4-0 margin.
Pakistan's top ranked cueistImran Shahzad beat VinnieCalabrese (Australia) 4-2 inhis match. Top four cuemenfrom the 16 groups will quali-fy for the last 64 round of thecompetition.-APP
Serbians feteDavis Cup
victoryBELGRADE: Serbia's DavisCup victory over France onSunday topped the headlines ofall daily newspapers hereMonday, with photos of theplayers and their coach hoistingthe famous silver salver trophyprominent.
"The dream has come true:Serbia the champions of theworld," read a huge headlineover the front page of the Blicdaily.
"The dream of generations, towin the Davis Cup trophy, hasbecome a reality!," the dailysaid.
"The tennis gods definitivelylive in Belgrade and theirnames are Novak Djokovic andViktor Troicki. Showing theirbest form they impressed on theFrench that "In Belgrade thereis no giving up."
Serbia, which had never wonthe Davis Cup before, enteredSunday's reverse singles down1-2 after losing the doubles infive sets on Saturday, butstraight sets victories forDjokovic and Troicki over GaelMonfils and Michael Llodraturned the tide.
Under the title "NewMusketeers are Serbian," thesports daily Sportski Zurnalsaid that the motto "All for one,one for all, the spirit of muske-teers that has for ever been thebrand of the French Davis Cupteam, now belongs to Serbia."
Several factors, apart fromtennis skils, were crucial forsuch a victory, the daily said,listing a huge "patrioticcharge," "strong friendship,""extreme adjustability" and"psychological quality" as themost important elements.-APP
$1.56mn forTrescothickif sends ballout of Lord'sMELBOURNE: As Englandfight the elements to drawfirst blood in the ongoingAshes series, one of their for-mer Test stars has got anopportunity to earn a cool$1.56 million if he can sendthe ball sailing over thestands of the historic Lord`sstadium.
Former opener MarcusTrescothick, who remains aformidable name in the coun-try`s county circuit after retir-ing from international cricket,was offered a chance to fish amillion pounds if he musclesthe ball over 210 feet fromthe Nursery End landmark atthe Lord`s.
The hard-hitting batsmanreceived the offer from hisbat makers Mongoose forrepeating a feat that has beenattained only once in thecricketing history, `TheHerald Sun` reported.
Mongoose said Trescothickwas well-placed to repeat therecord set by AustralianAlbert Trott, who cleared the50-foot building during amatch for MaryleboneCricket Club in 1899.
The 34-year-old will beequipped with theMongoose`s latest bat,designed for cricket`s shortestform.-Online
ADELAIDE: Kevin Pietersentook centre stage at both endsof the fourth day of the secondAshes test on Monday by fol-lowing a career best battingperformance with a keyAustralian wicket.
Pietersen added the finalflourish to a magisterial doublehundred in the morning sunbefore he was dismissed for227 as England accumulated ahuge first inning total of 620for five declared. He thenreturned in the gloaming toremove vice-captain MichaelClarke with the last ball of theday for 80.
Australia go into the final dayon 238 for four with their lasttwo recognised batsmen at thecrease and 137 needed to makeEngland bat again.
Their main hope of forcing adraw is the weather with heavystorms forecast. Rain stoppedplay for just under an hour inthe third session on Monday.
Graeme Swann, the world'stop-ranked spinner, took twowickets including RickyPonting for nine following theAustralian captain's first ballduck in the first innnings.
Pietersen then accounted forClarke with his part-time off-spin.
"It's a massive bonus for us,"Swann said. "Sometimes youneed a bit of inspiration and whobetter to deliver it than KP?
"We love KP, especiallywhen he's got a double century
and gets their best player ofspin out."
Mike Hussey and Clarkefought a desperate rearguardaction for the hosts throughoutthe latter part of the rain-dis-rupted third session and the pairlooked set to resume their part-nership on the final day untilPietersen came on to bowl.
Clarke, who had made a solid80, initially walked whenAlastair Cook took the catch atshort-leg but returned to hiscrease when the umpire failedto give him out.
England requested a reviewand, to the delight of themassed ranks of the "BarmyArmy" on the grass bank underthe scoreboard, Clarke waswalking again when the pic-tures clearly showed the ball hitthe face of his bat.
"Just want to apologise fornot walking off the groundtonight when I hit the ball. Iwas just so disappointed, myemotions got best of me,"Clarke posted on his Twitterpage.
Hussey, who will resume on44 not out alongside MarcusNorth in the morning, said ithad been a big psychologicalblow for a team already reelingafter being outplayed for fourdays.
"It was a bit of a kick in theguts to lose that last one," saidHussey. "(Clarke's) pretty dis-traught, it was a real sombreway to finish the day for us."
England added 69 runs innine overs in the morning ses-sion with Ian Bell hitting a sub-lime six on his way to 68 notout and Matt Prior adding anunbeaten 27 after being savedfrom an lbw dismissal by a tel-evision review.
England's total was the thirdhighest test tally at the AdelaideOval and their second bestAshes total in Australia.
Shane Watson and SimonKatich steered Australia safelythrough to lunch before off-spinner Swann struck after thebreak.
Katich (43), who had hobbledthroughout his innings becauseof an Achilles heel injury andwho now is a major doubt forthe third test in Perth, got afaint outside edge which wick-etkeeper Matt Prior snaffled.
Ponting, playing in his 150thtest, lasted just 21 minutesbefore getting a thick edge toPaul Collingwood at first slip.
After Watson's departure,caught by England skipperAndrew Strauss off StevenFinn for 57, Australia's hopeswere in the hands of Clarke,Hussey, North, Brad Haddinand the weather.
"A couple of hours of rainwill help our cause but we'vegot try and hang in there aslong as we can," said Hussey.
"Certainly, if we can draw thematch, England will see that asa loss and that will be drivingus."-Reuters
England nears victorycourtesy Pietersen
ADELAIDE: England's Pietersen celebrates with teammates after claiming the wicket ofAustralia's Clarke during the fourth day of the second Ashes cricket test.-Reuters
KARACHI: Chief Guest, Faisal Sabzwari, Minister YouthAffairs Sindh, distributing prizes among children on the
Annual Sports occassion of Habib Girls School. Mr MuslimHabib Trustee, Almas Bana, Nargis Alvi and Shoaib
Siddiqui also seen.-Staff Photo
MULTAN: Chief Guest Ex MPA Dr Javed Saddique Sheikshaking hand with players during First All Punjab Abdul
Sattar Jajji Football Tournament at Sport Ground.-APP
11Tuesday, December 7, 2010
International & Continuation
CONTINUATION
Moody’s cutHungaryclose to
junk, warnsof risks
BUDAPEST: Credit ratingagency Moody's cut Hungary'ssovereign rating by two notch-es, to just above "junk" grade,on Monday and said it may cutfurther if the government failsto put public finances on a sus-tainable footing.
Hungary's government hasrejected austerity and aims toclose its budget deficit withhefty new taxes on banks andother businesses as well as adiversion of private pensionsavings into state coffers.
"Today's downgrade is pri-marily driven by theHungarian government's grad-ual but significant loss offinancial strength," Moody'sInvestors Service analystDietmar Hornung said in astatement.
"The negative outlookreflects the uncertaintiesregarding the government'sfinancial strength, as the coun-try's structural budget deficit isset to increase and externalvulnerabilities make the coun-try susceptible to event risk."
Hungarian assets have beenhit in the last month as thespreading euro zone debt crisishas driven a decline in globalappetite for risk.
While expected, the two-notch downgrade, which putsthe Moody's rating on a parwith that of rival Standard &Poor's, is another signal thatmarkets are not happy with thegovernment's unorthodox eco-nomic policies.
"The Moody's action is inline with our view that recenteconomic policy decisions inHungary resulted in a deterio-ration of the medium-term fis-cal outlook and less pre-dictable business environ-ment," Piotr Kalisz atCitigroup said in a note.-Reuters
BRUSSELS: Euro zonefinance ministers meeting onMonday faced IMF pressure toincrease the size of a 750 bil-lion euro ($1,006 billion) safetynet for debt-stricken membersto halt contagion in the singlecurrency bloc.
But EU paymaster Germanyrejected any such move andalso dismissed a call by twoveteran finance ministers forjoint euro bonds to be guaran-teed by the whole euro zone.
International Monetary Fundchief Dominique Strauss-Kahnwas set to urge the 16-nationsingle currency area to boostthe rescue pool and theEuropean Central Bank (ECB)to step up its purchases of gov-ernment bonds to stem the cri-sis, according to an IMF reportobtained by Reuters.
European Monetary AffairsCommissioner Olli Rehn saidon arrival for the meeting thatthe question of upgrading therescue fund, known as theEuropean Financial StabilityFacility, was one of the issueson the ministers' agenda.
However, GermanChancellor Angela Merkel saidshe saw no need to increase thesize of the bailout mechanism,which is deeply unpopular withvoters in Europe's biggest econ-omy.
She also said EuropeanUnion treaty rules did not allowfor issuing common bonds,which would reduce the ele-ment of competition and theinterest rate incentive for fiscalgood behaviour.
The ECB engineered a dip inthe soaring borrowing costs ofweaker euro zone states latelast week by stepping up pur-chases of mainly Irish andPortuguese government bonds.Figures issued on Mondayshowed the central bank bought1.965 billion euros worth ofgovernment bonds in the weekto Dec. 3, its biggest weeklytally since the end of June.
But yield spreads of countrieson the euro zone periphery oversafe-haven German Bundsresumed their rise on Monday,as did the cost of insuring theirdebt against default, and many
analysts say only sustained,massive central bank bond-buying can reverse the trend.
The IMF report said a recov-ery in the euro zone, led bystrong growth in Germany,could "easily be derailed" byrenewed market turmoil, anddescribed pressure on peripher-al euro countries as a "severedownside risk".
Wide differences remainamong euro area governmentsover how to overcome the debtcrisis that has already led toEU-IMF bailouts for Greeceand Ireland, and now threatensPortugal, Spain and possiblyItaly.
Jean-Claude Juncker, chair ofthe Eurogroup finance minis-ters, and Italian FinanceMinister Giulio Tremonti out-lined a proposal in Monday'sFinancial Times for a joint sov-ereign bond, or "E-bond".
They said this would send asignal of "the irreversibility ofthe euro" to citizens and mar-kets, where some experts havestarted to question the future ofthe currency.-Reuters
Merkel rebuffsIMF call to raiseeuro zone fund
WASHINGTON: The FederalReserve could end up buyingmore than the $600 billion inUS government bonds it hascommitted to purchase if theeconomy fails to respond orunemployment stays too high,Fed Chairman Ben Bernankesaid.
The Fed will regularly reviewthe policy and could adjust theamount of buying up or downdepending on the economy'spath, he added.
In a rare televised interview,Bernanke told the CBS pro-gram "60 Minutes" the Fed'sactions are aimed at supportingwhat is still a fragile economicrecovery, dismissing criticswho argue the policy will leadto future inflation.
"This fear of inflation I thinkis way overstated," Bernankesaid in the interview aired onSunday.
"What we're doing is lower-ing interest rates by buyingTreasury securities," he said."And by lowering interest rates,we hope to stimulate the econo-my to grow faster. The trick isto find the appropriate momentwhen to begin to unwind thispolicy. And that's what we'regoing to do."
Bernanke said it would takefour to five years for the coun-try's unemployment rate, whichrose to 9.8 per cent inNovember, to come down towhat he called more "normal"levels of around 5 per cent to 6per cent.
Asked if the central bankcould go beyond the $600 bil-lion of bond buys announced atits November meeting,Bernanke said: "Oh, it's certain-ly possible. It depends on theefficacy of the program. Itdepends, on inflation. And
finally it depends on how theeconomy looks," he said.
But he also did not rule outstopping short of the total.
"We're gonna be regularlyreviewing this," Bernanke said."This is not something thatwe've set into automatic motiongoing forward. We want to con-tinue to think about it. Whetherit needs to be changed. Whetherit needs to be increased ordecreased or modified."
The US economy grew at amodest 2.5 per cent annual ratein the third quarter, and morevigorous growth is needed tobring down unemployment.
The "60 Minutes" interviewis as part of a broader effort toraise the Fed chairman's publicprofile in order to counter crit-ics of Fed policy -- both inWashington and within the cen-tral bank itself.
NOT PRINTING MONEYThe decision to offer further
monetary stimulus at a timeovernight borrowing costs arealready effectively at zero andthe banking system is awashwith $2.3 trillion in Fed-createdcredit has proven controversialboth at home and abroad.
Many economists, someRepublican lawmakers, and asmall but vocal minority of topofficials within the Fed worrythat the central bank's actionsare unlikely to do much to spureconomic growth with borrow-ing costs already unusually low.
Instead, they worry the mas-sive bond purchases will lead todistortions in financial markets,potentially sparking asset bub-bles in unexpected places.Some also fear, as CharlesPlosser of the Philadelphia Fedhas argued, the expansion ofreserves could create the "kin-dling" that will spark inflation
in the future. But Bernanke continued to
argue firmly against that view. "One myth that's out there is
that what we're doing is print-ing money," he said. "We're notprinting money. The amount ofcurrency in circulation is notchanging. The money supply isnot changing in any significantway."
While the Fed is pressinghard on the monetary accelera-tor, banks would have to rampup lending for the money sup-ply to increase -- and loandemand is still tepid.
Bernanke said the Fed hasboth the tools and the will towithdraw liquidity from thebanking system if inflationbegins to dart higher, even ifpast experience makes someanalysts skeptical.
"We could raise interest ratesin 15 minutes if we have to,"Bernanke said in the interview,which was taped on Tuesday."So, there really is no problemwith raising rates, tighteningmonetary policy, slowing theeconomy, reducing inflation, atthe appropriate time."
"That time is not now." Part of the rationale for Fed
easing is the fear that a trend ofslowing inflation could turninto an outright deflation, adamaging downward spiral inprices and wages that is partic-ularly difficult for central banksto fight.
Bernanke said the current riskof deflation was not very big,but only because the Fed haddecided to act aggressively.
"If the Fed did not act, thengiven how much inflation hascome down since the beginningof the recession, I think itwould be a more serious con-cern," Bernanke said.-Reuters
More Fedbond buying
“certainly possible”
He said he appreciated Singh's effort to reach out to Pakistan,despite the Indian public opinion being "deeply shocked and trau-matised" by the terror savagery.
Sarkozy said that in the 21st century, the only way to ensurepeace and security was to "develop together and not againstanother", making a reference to the European Union, where for-mer foes now work together. The president said both France andIndia have the "same reading on Afghanistan".
Sarkozy is on a four-day visit to India that ends Tuesday.-Online
Continued from page 12No #1
hearts and minds, these violations of our sovereignty take a ter-rible toll." The Minister said the terrorism is a toxic brew of ide-ology, sense of hurt and injustice and economic deprivation andmarginalization. He said force will always be necessary to dealwith the flare-up, but the real treatment is to address the underly-ing infection. Qureshi said economic deprivation has to be tackledon priority adding that a large number of Taliban cadres are in thebusiness of fighting simply because they have no alternatives. TheMinister said, "For Pakistan to be able to prevail, on behalf of theentire civilized world, we must be politically stable."
He said secure and stable Pakistan required that its economymust be viable and robust. Qureshi said Europe and Pakistan havealready taken the first step in this direction and thanked Europeanleaders for working to grant Pakistan enhanced market access tothe EU for three years. "We believe this will translate into greatereconomic activity and employment opportunity in Pakistan," headded. "I am confident that this first step would be followed byadditional and concrete measures to open up trade on a longer-term basis," he said. He said the European Union action should befollowed forthwith by the United States implementing trade andtariff policies that will help Pakistan grow. Qureshi said establish-ing a Free Trade Agreement will not only energize the Pakistanieconomy, but in a very real sense, protect US security interests.
He said Pakistan, Afghanistan and the United States are amongthe main players in the fight against terrorism.
Continued from page 12No #2
were handed over to provinces on Monday are local bodies andrural development, zakat and ushr, population welfare, special ini-tiative and youth affairs. Parliamentary sources told Online that allsix standing committees chairmen and one parliamentary secretaryhas been affected by handing over of these ministries to provinces
It may be recalled that federal cabinet and parliamentary com-mission for implementation of 18th amendment had accordedapproval to the transfer of these ministries to province a few daysearlier. More five ministries would be devolved to the provincestill February, 3. -Agencies
Continued from page 12No #3
depends, on inflation. And finally it depends on how the econo-my looks," he said. But he also did not rule out stopping short ofthe total. "We're going to be regularly reviewing this," Bernankesaid. "This is not something that we've set into automatic motiongoing forward. We want to continue to think about it, whether itneeds to be changed or whether it needs to be increased ordecreased or modified." The US economy grew at a modest 2.5per cent annual rate in the third quarter, and more vigorous growthis needed to bring down unemployment. The "60 Minutes" inter-view is as part of a broader effort to raise the Fed chairman's pub-lic profile in order to counter critics of Fed policy -- both inWashington and within the central bank itself.
The decision to offer further monetary stimulus at a timeovernight borrowing costs are already effectively at zero and thebanking system is awash with $2.3 trillion in Fed-created credithas proven controversial both at home and abroad. "One myththat's out there is that what we're doing is printing money," hesaid. "We're not printing money. The amount of currency in circu-
Continued from page 12No #4
times.UAE Minister for Foreign Trade, Sheikha Lubna AlQasimi, Chairman of Dubai Chamber of Commerce AbdulRehman Saif Al Ghuriar, Mian Mohammed Mansha, ChairmanNishat Group, Javed Malik, President International BusinessForum, Arif Habib of Arif Habib Investments would join a hostof other speakers, whereas the special keynote speaker will beChief Minister of Punjab, Mohammad Shahbaz Sharif who willalso chair the inaugural session. -Agencies
Continued from page 12No #5
groups, to include Lashkar-e-Tayiba (LT) and Jamaatud Dawa(JuD), according to the cable.UAE security services were notfamiliar with the names of specific UAE-based LeT membersshared by the Treasury, but promised to follow up on the informa-tion, the report said. "DSS officials were familiar withXXXXXXXXXXXX who reportedly provides funding to theTaliban/ Haqqani Network, according to US intelligence."
The GDSS officials stated that they do not believeXXXXXXXXXXXX is loyal to the Taliban, and noted that he hascooperated with Pakistani authorities, as well as with AfghanPresident Karzai," the cable said. "They pointed outXXXXXXXXXXXX's past visits from former Guantanamo Baydetainee Mullah Zaif but noted that such visits - which may haveresulted in financial support - have ceased," it said. "GDSS con-tinues to monitor XXXXXXXXXXXX although at present theydo not believe that he is a Taliban financial manager," it said.
Mendelson suggested that he may be a pragmatist who main-tains relationships with legitimate authorities, but insisted that theUS government has information that suggests he is still involvedwith the Taliban. "During the course of the two multi-hour intelli-gence exchange sessions, GRPO and Treasury analysts walkedthrough the previously shared information suggesting thatTaliban- related finance officials have visited the UAE in order toraise or move funds," it said.According to the cable, the UAEsecurity officials believe that the Taliban may draw support fromthe sizeable Pashtun population resident in the UAE. -Agencies
Continued from page 12No #6
Sunnis, political and religious leaders would be formed in all theprovinces. Snipers and sharp shooters would be deployed in thetension ridden areas, while aerial vigilance would continue from1st to 10th of Muharram. The meeting also agreed to impose cur-few in the most "tense areas" to ensure peace and tranquility foravoiding any untoward incident. Whereas, Army would be kept onstand-by to tackle any untoward incident, if takes place.
An Operation Room of National Crisis Management Cell wouldcoordinate with the provinces and share real time intelligence withthe provinces and it would operate round-the-clock duringMuharram. The meeting also decided that the police patrollingwould be enhanced in all the provinces, Islamabad CapitalTerritory, Gilgit-Baltistan and AJK.It suggested that inter-provin-cial movement of "firebrand religious speakers" should be discour-aged and they would not be allowed to deliver speeches. -APP
Continued from page 12No #7
lation is not changing. The money supply is not changing in anysignificant way." While the Fed is pressing hard on the monetaryaccelerator, banks would have to ramp up lending for the moneysupply to increase -- and loan demand is still tepid. Bernanke saidthe Fed has both the tools and the will to withdraw liquidity fromthe banking system if inflation begins to dart higher, even if pastexperience makes some analysts skeptical."We could raise inter-est rates in 15 minutes if we have to," Bernanke said in the inter-view, which was taped on Tuesday. "So, there really is no problemwith raising rates, tightening monetary policy, slowing the econo-my, reducing inflation, at the appropriate time."
"That time is not now." -Reuters
"We want you to help succeed in increasing your sales and cre-
Continued from page 1No #8
same period a year earlier.Measures taken against dumping, usually extra duties on imports fell byabout five per cent, with 14 nations or trading blocs applying measures. India began 17 investiga-tions into cheap imports, followed by the European Union (eight) and Argentina (five).
Chinese exports -- mainly metals, chemicals and plastics -- were targeted the most, accounting forone third of the probes, but the number declined by 17 per cent compared to early 2009. The WTOlast week ruled that anti-dumping measures imposed by the European Union on imports of Chinesemetal fasteners, such as screws, nuts and bolts, were illegal, in a dispute brought in 2009. -APP
Continued from page 1No #9
Reinstatement Bill and congratulated all the workers who have thus been reinstated in their jobsthrough an Act of the Parliament. He also felicitated the Parliament for passing this law and also theMinister for Labor and Manpower and all those who made it possible. -APP
Continued from page 1No #10
Secretaries and IGs Police to meet with religious leaders and issue joint declarations to promotesectarian harmony in the country.
Continued from page 1No #11
that both the countries want Afghanistan to play its role to further strengthen these relationships atmulti-dimensions and in different sectors. He said that trilateral relationships will contribute for theregional stability and peace. He intimated that President Asif Ali Zardari will also visit Turkey innear future to attend a tripartite conference hosted by the Turkey, which will be attended by AfghanPresident Hamid Karzai and Turkish President Abdullah Gul aiming to fortify the regional cooper-ation.PM Yousuf Raza Gilani said that rationale of his visit is to boost bilateral relationships empha-sising at economy, trade and investment sectors. He told that both the countries will focus on find-ing new ways to further stabilise their relationships. -APP
Continued from page 1No #12
Finance had already submitted its recommendations on it after a debate.He pointed out that the basic reason of this reform is to make RGST simple, ensure that there
should be "no" tax on consumer items of general public and further simplifying this law keeping inview the genuine irritants of the people. He said that another reason of introducing RGST is toreduce dependence on the outside world and create self sufficiency in financial affairs and also tosecure our financial independence. Responding to a question regarding consultation on RGST, hesaid that discussions with business community and their chambers have been held on different occa-sions since last more than six months."This process is still going on as we think that the impositionof any tax without consultation with business community and without removing their reservationswill be a kind of "injustice", he noted. In addition, he recalled that various representative bodies ofall trade also had presented their point of view before the standing committees of the Senate andNational Assembly on different occasions. -Agencies
Continued from page 1No #13
official in the Mohmand Agency who appeared to be the target of the attack, earlier told Reuters bytelephone that it appeared to be a suicide attack. "There were two bombers. They were on foot. The firstblew himself up inside the office of one of my deputies while the second one set off explosives whenguards caught him." Mohmand is one of the lawless tribal regions in Pakistan's northwest. -Reuters
Continued from page 1No #14
ate jobs and expand your reach to regional markets as well as United States", he added.Referring to Pak-US trade, he said that during 2009, Pakistan exported goods worth $3.2 billion
to USA and simultaneously US's exports stood at $ 1.6 billion with Pakistan having a trade surplus.He noted that Pakistan must eliminate government subsidies in energy sector to stop revenue drain.He said that USAID is funding to the generation and distribution companies."Our technical experts are working closely with Pakistani officials on practical steps to solve tech-
nical inefficiencies, unsustainable tariff structure and power theft which are draining Pakistan'sbudget". He said Americans and Pakistani partner companies have proposals pending with the gov-ernment of Pakistan to build plants to import Liquefied Natural Gas (LNG), power plant to generateelectricity through winds in Gharo, Sindh and full range of other investments. Referring to revenuecollection, he appreciated the efforts of President Asif Zardari, Prime Minister Gilani, FinanceMinister Dr Shaikh, SBP and political leadership for the commitment to address the issue of revenuecollection in the country through economic reforms legislation."This is not easy, but we hope thatwith our encouragement, they will move forward. This legislation is critical to enable the private sec-tor to grow and create jobs", he observed. Munter said that with fiscal deficit at 6.3 per cent of theGDP in 2010, the government of Pakistan is unable to meet its commitment to the IMF under theOctober 2008 standby agreement that provided $10.7 billion in loans over two years.
"Exporters are under pressure as the yen strengthened, and that is weighing on the Nikkei. But fallsare limited as we are seeing solid bargain-hunting," said Takashi Ohba, senior strategist at OkasanSecurities."Underlying bullish sentiment for Japanese stocks really hasn't changed. The Nikkei stillhas room to rise," he said. The Nikkei closed the day down 0.1 per cent or 11.09 points at 10,167.23,while the broader Topix index rose 0.3 per cent to 881.41.
Market participants said the Nikkei is expected to be supported as overseas fund operators stillhave not completed covering their underweight positions in Japanese shares."I think foreign fundsare still underweight Japanese stocks so they still need to cover those positions as they have per-formed well recently," said Tomomi Yamashita, fund manager at Shinkin Asset Management. TheNikkei has sharply outperformed other major markets over the past month, including Hong Kong,Shanghai and New York's Dow Jones industrial average.Market participants said the Nikkei is like-ly to find support around 10,000, while resistance is seen around 10,250 -- near the six-month highreached last week. The Nikkei could be weighed down if the yen extends its recovery, analysts said.
On Monday, 1.48 billion shares changed hands on the Tokyo exchange's first section, the lowestsince Oct. 25 and well below last week's daily average of 1.81 billion.Fujito said the dollar's levelagainst the yen will likely determine the Tokyo market's direction over the next few weeks, and ifthe dollar falls below 82 yen, the Nikkei may drop to around 10,000. US employment barely grewin November and the jobless rate unexpectedly hit a seven-month high, hardening views the FederalReserve would stick to its $600 billion plan to shore up the anemic recovery.-Reuters
Continued from page 5No #15
not going to be that important, because the real big one (the EU's heads of government meeting)is on the 16th and 17th December."BP led energy stocks higher, adding 3.4 per cent, as investorswelcomed further developments on the company's asset sale aimed at raising cash to pay for its mas-sive oil spill in the Gulf of Mexico.
Pakistan's Oil and Gas Development Co. Ltd. said it will make a joint bid for BP's assets in Pakistanwith Pakistan Petroleum Ltd.Sentiment surrounding the British oil major was also helped after WhiteHouse oil spill commission staff said on Friday that BP believes the spill's actual flow rate may havebeen as much as 50 per cent below the government's final estimate.A UBS downgrade to "neutral" hitTesco, off 1.6 per cent, ahead of the retailer's third-quarter sales update on Tuesday. -Reuters
Continued from page 5No #16
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NEW DELHI: French President Nicolas Sarkozy reacts while holding a joint press conference with Indian Prime Minister Manmohan Singh in New Delhi. -Reuters
NEW DELHI: India andFrance Monday inked a civilnuclear pact which will pavethe way for construction ofFrench nuke reactors in thecountry, besides four agree-ments for deeper bilateralcooperation in the atomic ener-gy sector.
The agreements, includingfor construction of two1650MW nuclear power reac-tors in the western state ofMaharashtra, were signedbetween the two sides afterdelegation-level talks betweenvisiting French PresidentNicolas Sarkozy and PrimeMinister Manmohan Singhhere.
"President Sarkozy's visit isfourth in a series of high-levelexchanges between India andFrance in last three years.
This reflects importance ofthe strategic partnership.Discussions were wide-rang-ing and extremely productive,"Prime Minister Singh told themedia.
"We made significantprogress on all issues. Onnuclear energy, the negotia-tions have paved the way fornuclear reactors at Jaitapur.
Several other agreements in
nuclear areas such as researchand training, nuclear safety,waste management have alsobeen concluded," he said.
Singh also said France is"one of the most reliabledefense partners" and "counterterror is significant area ofcooperation where we are mak-ing good progress."
President Sarkozy said thathe has come "not simply tovisit a major client, but a part-ner".
"The signing of the two
EPRs reactors is just the begin-ning," said Sarkozy.
The French president alsoreiterated France's support forIndia's bid for a membership tothe Nuclear Suppliers Group,saying, "We support India to bepart of any nuclear forum thatit wishes to participate in."
India and France have plansto jointly set up six nuclearpower plants of 1650MW eachat Jaitapur in Maharashtra at anapproximate cost of $25 bil-lions. -Agencies
France, Indiaink deal for6 N-reactors
Total Project to cost $25 billion
SAN FRANCISCO: ForeignMinister Shah MehmoodQureshi Monday saidPakistan's armed forces andlaw enforcement agencies,backed by popular support,and democratic legitimacyfighting terrorism to ensurepeace and security in theregion.
Addressing Trans AtlanticLegislators' Dialogue (TLD)forum meeting held here, theFM said, fueled by weaponsand funding fromAfghanistan's narco industryand others, the terroristshijacked the valleys of Swatand Waziristan.
Qureshi said, "The consen-sus we had so painstakinglyforged among our politicalforces, translated into deter-mined action against these ter-rorists."
He said operations in Swatand Waziristan, and on-going
operations in other parts of thecountry, manifested a clearintent: Terrorism has no roomin Pakistan.
Foreign Minister said morethan 30,000 Pakistanis havebeen killed or wounded by ter-rorists.
"Our armed forces have suf-fered nearly 10,000 casualtiesand Pakistan has lost more sol-diers in the fight against ter-rorism than all of the Natonations combined, inAfghanistan," he added.
He said terrorism is a globalphenomenon and it needs aglobal response.
Emphasising the need forworld support, ForeignMinister said war against ter-rorism required that Pakistanshould be given the tools tofinish the fight.
"We must be able to listen toterrorists. We must be able tolocate them during the day and
more importantly in the night.We must be able to hit themthe moment we identify them,"he said.
The minister said, "We mustenhance each other's capabili-ty. We must improve our coop-eration in intelligence gather-ing and analysis."
He said, "We must capitalizeon each other's strengths andwe must be on the same page"adding that it is worse if thereis suspicion and distrust.
Such suspicion and distrustplayed into the hands of theterrorists, he added. He saidthe incursion by the NATOhelicopters into Pakistan isone such instance.
Qureshi said, "There issomething extremely disso-nant about allies attackingallies, and we must neverallow this to happen."
He said, "In the true battle of See # 2 Page 11
Pak has no roomfor terrorism: FM
WASHINGTON: UAE'ssecurity officials believed thatIndia along with Iran had sup-ported the Pakistani Talibanand Pashtun separatists, evenas US suggested that UAE wasa source of funding for the mil-itants, a diplomatic cablereleased by WikiLeaks disclos-es.
The allegation by UAE offi-cials is noted in a StateDepartment cable whichreports the details of a meetingbetween officials of the USTreasury Department and thoseof UAE's State SecurityDepartment (SSD) and Dubai'sGeneral Department of StateSecurity (GDSS) to discusssuspected Taliban-related
financial activity in the UAE.The meeting, spread over
several hours on December 15-16, 2009.
In the meeting GDSS offi-cials noted Iran's support toTaliban in Pakistan, addingthat it believes that India alsohas supported PakistaniTaliban and Pashtun sepa-ratists.
The meeting from the USside was represented byTreasury Department ActingAssistant Secretary of theOffice of Intelligence andAnalysis Howard Mendelson.
Mendelson also raisedAfghanistan and Pakistan-based extremist and terrorist
See # 6 Page 11
UAE thought Delhibolstered Taliban
DUBAI: Pakistan Business &Investment Conference isbeing organised in Dubai on13th December 2010 in whichdelegates from more than 20countries will take place.
A high-level delegation ofbusinessmen led by the ChiefMinister of Punjab, ShahbazSharif is traveling fromPakistan to take part in thisconference in Dubai which isbeing organised byInternational Business &Networking Forum (IBNForum) in association withDubai Chamber of Commerceand Industry and PunjabBoard of Investment & Trade,said Javed Malik, President ofInternational Business Forum.
The 100 strong delegationof businessmen and top offi-cials from Pakistan will alsomeet with UAE based busi-ness leaders and governmentofficials.
Speaking about the objec-tives of the conference, theorganizer Javed Malik said instatement, Pakistan and UAE
share an excellent businessrelationship however there isstill a lot potential to furtherexpand these relations partic-ularly, trade and commerceactivity between the twocountries. The close geo-graphical proximity withUAE presents a wide range ofpossibilities particularly intrading and re-exports.
The presence of ChiefMinister of Punjab indicatesthe high importance that isbeing attached to the confer-ence and big names fromPakistani business worldincluding big names likeMian Mansha, ChairmanNishat Group, Arif Habib,Sultan Chawla, PresidentFederation of Chamber ofCommerce and Industry, aswell as Chamber Presidents ofdifferent cities in Pakistanwill also be coming over.
This is probably one of thelargest contingents of busi-nessmen that is visiting fromPakistan to the UAE in recent
See # 5 Page 11
Tycoons ready toshine UAE moot
Pak Business & Investment Conference in Dubai on 13th
WASHINGTON: The FederalReserve could end up buyingmore than the $600 billion inUS government bonds it hascommitted to purchase if theeconomy fails to respond orunemployment stays too high,Fed Chairman Ben Bernankesaid.
The Fed will regularlyreview the policy and couldadjust the amount of buying upor down depending on theeconomy's path, he added.
In a rare televised interview,Bernanke told the CBS pro-gram "60 Minutes" the Fed'sactions are aimed at supportingwhat is still a fragile economicrecovery, dismissing criticswho argue the policy will leadto future inflation.
"This fear of inflation I thinkis way overstated," Bernankesaid in the interview aired onSunday.
"What we're doing is lower-ing interest rates by buyingTreasury securities," he said."And by lowering interestrates, we hope to stimulate theeconomy to grow faster. Thetrick is to find the appropriatemoment when to begin tounwind this policy. And that'swhat we're going to do."
Bernanke said it would takefour to five years for the coun-try's unemployment rate,which rose to 9.8 per cent inNovember, to come down towhat he called more "normal"levels of around 5 per cent to 6per cent.
Asked if the central bankcould go beyond the $600 bil-lion of bond buys announced atits November meeting,Bernanke said: "Oh, it's cer-tainly possible. It depends onthe efficacy of the program. It
See # 4 Page 11
Bernanke backsbonds’ buying
Eunuchs getentrance in
NIC formISLAMABAD: The NationalDatabase and RegistrationAuthority has updated theNational Identity Card (NIC)form to include a separate boxfor eunuchs.
In a new policy formalisedby Nadra, the box added tothe form includes separatecheckboxes for male (KhwajaSara) and female (Narkha)eunuchs. Thousands ofeunuchs in the country willnow be able to benefit fromNadra's new initiative, whichhas been made in accordancewith court orders.
The Supreme Court ofPakistan in 2009 had orderedthat eunuchs be issued nation-al identity cards specifyingtheir gender as 'other'.
Earlier, Nadra had alsoinsisted that they be med-ically examined to deter-mine their gender, whichhad been opposed by thecommunity. -Agencies
Ministries
formallyshifted toprovinces
ISLAMABAD: Five federalministries have been formallyhanded over to the provinces onMonday.
With the handing over ofthese ministries theParliamentary committeesrelated to these ministries havealso come to an end and theirchairmen and parliamentariansecretaries ceased to exist.
Formal notification of theseministries being handed over tothe provinces has been issued.
The five ministries which See # 3 Page 11
Contempt Case
Justice Sairquits bench
ISLAMABAD: SupremeCourt of Pakistan Monday dis-missed the plea challengingconstitution of the apex courtbench hearing PCO judges'contempt of court case, mediareported.
While Justice Sair Ali head-ing five-member larger benchhas stepped down voluntarily,and now the new bench will beconstituted for the hearing ofthe case.
Earlier, the five-memberbench of the Supreme Court,headed by Justice Sair Ali, hadreserved its verdict in the peti-tion filed by PCO judgesJustice Hasanat and ShabbarRaza Rizvi against the forma-tion of the bench hearing thePCO judges' contempt of courtcase.
The SC Monday dismissedthe petition filed by PCOjudges.
The PCO judges had raisedtheir objection on the presenceof Justice Sair Ali, JusticeShahid Siddiqui and JusticeTariq Pervez in the bench. -Agencies
Malik goes over
Muharramsecurity planISLAMABAD: InteriorMinister A Rehman Malik onMonday chaired a high-levelmeeting to review securityarrangements for the holymonth of Muharram-ul Haram.
The meeting was attended bythe Secretary Interior, all theProvincial Home Secretaries,Inspector Generals of Police,Director Generals of Punjaband Sindh Rangers, InspectorGenerals of Khyber-Pakhtunkhwa and BalochistanFCs, Chief Commissioner andInspector General of IslamabadPolice besides representativesof intelligence agencies.
The minister was briefed byHome Secretaries and IGPs onsecurity arrangements made intheir respective provinces toensure peaceful observance ofthe holy month.
The meeting decided to iden-tify sensitive areas wheremourning procession would betaken out, while no sectarianleader or any other personwould be allowed to makespeech fanning sectarianism.
All the Home Secretaries andthe IGPs have been directed tohold meetings with local reli-gious leaders and issue jointdeclarations for promoting sec-tarian harmony.
The meeting also decided thathigh powered committees com-prising notable Shia and
See # 7 Page 11
LHC bars govtfrom amending
blasphemylaw
LAHORE: Lahore HighCourt (LHC) has barred thegovernment from amendingthe blasphemy law, till thefinal decision of the court inAasia Bibi case.
The court gave the ordersduring the hearing of a peti-tion filed to stop the govern-ment from tabling an amend-ment bill in the blasphemylaw 295-C.
Former InformationMinister Sherry Rehman hasalso been made a party to thepetition. Notices have beenissued to her and the federalgovernment for theDecember 23 hearing.
Meanwhile, the courtextended the stay order in theAasia Bibi's case tillDecember 23.
It declared that the govern-ment cannot proceed furtheron Aasia Bibi's mercy appli-cation till the set date.
In an earlier hearing, thecourt had stalled pardonmoves for Aasia Bibi, direct-ing President Asif Ali Zardariand the governor Punjab toabstain from making anymove to pardon blasphemyconvict Aasia Bibi tillDecember 6.
The court today (Monday)extended the stay order tillDecember 23. -Agencies
Qureshi addresses Trans-Atlantic Legislators Forum
‘Needed proper tools to finish fight against terror’
NEW DELHI: Indian HomeSecretary GK Pillai saysPakistan's efforts to prosecutethose behind the 2008 Mumbaiattacks are a "facade" withIslamabad concerned that sen-ior government officials mightbe implicated.
In an interview published inthe Wall Street JournalMonday, GK Pillai said Indiahad provided Pakistan withextensive information on theidentities of key conspiratorsbehind the attacks that killed166 people.
Some of the most com-pelling evidence was garneredfrom interrogating DavidHeadley, a Pakistani-American who pleaded guiltyto surveying the hotels and
other targets ahead of theassault blamed on Pakistan-based militants.
Pillai said Headley had iden-tified the voice of key conspir-ators from Indian intelligenceintercepts and the informationhad been passed on to thePakistani authorities.
"I don't think they're goingto do anything about it," Pillaitold the Journal, adding thatPakistan's moves to advancethe case are a "facade" andignored the people in the "con-trol room" who orchestratedthe attacks.
Pillai argued that Pakistanwas wary of cracking down ontop militants, for fear they will"sing" and implicate Pakistanigovernment officials in the
attacks."They just can't do it," he
said.The Mumbai attacks, which
began on November 26, 2008,caused carnage as 10 heavily-armed terrorists stormedMumbai, sparking a bloody,60-hour siege shown live ontelevision around the world.
India sees these moves asstalling tactics and says it hashanded over enough evidenceto convict the accused men.Pakistan says the evidence isinadmissible in court.
The Mumbai attacks contin-ue to dog relations betweenIndia and Pakistan, whoseslow-moving peace processbroke down after the assault. -Online
India distrusts Paktrial of 26/11 plotters
Trial of Mumbai attack conspirators a façade: Pillai
Pak must fight terrorstrongly, says Sarkozy
NEW DELHI: Calling upon Pakistan to fight terrorism withdetermination, French President Nicolas Sarkozy Mondayappreciated India's efforts to 'stretch out its hand' towards itsSouth Asian neighbour.
"We applaud India's effort to stretch out its hand. We callupon Pakistan to fight terrorism determinedly," Sarkozy saidin reply to a query on counter-terrorism cooperation at a jointpress conference with Indian Prime Minister ManmohanSingh here.
He pointed out that France had stood "shoulder-to-shoulder"with India in the aftermath of the 2008 Mumbai terror attackin which two French officials had also died. They were amongthe 166 victims. "Our cooperation on counter-terrorism iswithout limits," said Sarkozy. See # 1 Page 11
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