The Financial Daily-Epaper-20-01-2011

International

Pakistan Seal Series Win with Draw See on 0

Bulgaria backs Pak for EU concessions See on Page 12

Twin blasts kill 15 in central Iraq See on Page 12

*Crude Oil (brent)$/bbl 98.18

*Crude Oil (WTI)$/bbl 91.69

*Cotton $/lb 150.44

*Gold $/ozs 1,376.60

*Silver $/ozs 29.41

Malaysian Palm $ 1,220

GOLD (NCEL) PKR 38,167

KHI Cotton 40Kg PKR 10,610

Yearly(Jul, 2010 up to 18-Jan-2011)

Monthly(Dec, 2010 up to-18-Jan-2011)

Daily (18-Jan-2011)

Total Portfolio Invest (7 Jan-2010)

194.27

-1.13

-17.00

3057

0.72

0.94

4.61

-6.85

0.25

0.73

-0.40

SCRA(U.S $ in million)

Portfolio Investment

FIPI (19-Jan-2011)

Local Companies (19-Jan-2011)

Banks / DFI (19-Jan-2011)

Mutual Funds (19-Jan-2011)

NBFC (19-Jan-2011)

Local Investors (19-Jan-2011)

Other Organization (19-Jan-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (8-Jan-11)

Inflation CPI% (Jul 10-Dec 10)

Exports (Jul 10-Dec 10)

Imports (Jul 10-Dec 10)

Trade Balance (Jul 10-Dec 10)

Current A/C (Jul 10- Dec 10)

Remittances (Jul 10 - Dec 10)

Foreign Invest (Jul 10-Dec 10)

Revenue (Jul 10 Dec 10)

Foreign Debt (Sep 10)

Domestic Debt (Nov 10)

Repatriated Profit (Jul- Nov 10)

LSM Growth (Nov 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.09bn

14.61%

$10.98bn

$19.13bn

$(8.15)bn

$26mn

$5.29bn

$1.05bn

Rs 638bn

$58.41bn

Rs 5348.6bn

$287.9mn

-4.69%

4.10%

$1,051

174.92mn

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

21.61

2.00

1.70

11.66

PKR/Shares

111.41

185.20

42.85

36.42

39.97

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

12-Jan-2011

12-Jan-2011

12-Jan-2011

29-Nov-2010

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

19-Jan-2011

13.37%

13.50%

13.73%

14.00%

13.29%

13.62%

13.77%

14.10%

14.22%

14.22%

14.23%

14.26%

14.61%

14.81%

14.98%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 85.85 86.85

Canadian $ 86.40 87.40

Danish Krone 14.00 14.70

Euro 115.25 116.50

Hong Kong $ 10.90 11.00

Japanese Yen 1.016 1.042

Saudi Riyal 22.88 23.05

Singapore $ 66.70 67.70

Swedish Korona 12.30 12.40

Swiss Franc 86.60 87.20

U.A.E Dirham 23.38 23.55

UK Pound 136.25 137.70

US $ 86.30 86.50

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 86.02 86.22

Canadian $ 86.51 86.72

Danish Krone 15.47 15.50

Euro 115.25 115.51

Hong Kong $ 11.02 11.05

Japanese Yen 1.035 1.037

Saudi Riyal 22.85 22.91

Singapore $ 66.88 67.03

Swedish Korona 12.93 12.96

Swiss Franc 89.24 89.45

U.A.E Dirham 23.33 23.39

UK Pound 137.24 137.56

US $ 85.70 85.88

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 19°C 0°C KARACHI 28°C 13°C LAHORE 20°C 2°C FAISALABAD 21°C 1°C QUETTA 10°C -4°C RAWALPINDI 19°C 1°C

Weather Forecast

Index Close Change

KSE 100 12,577.61 -80.55

Nikkei 225 10,557.10 38.12

Hang Seng 24,419.62 265.64

Sensex 30 18,978.32 -113.73

ADX 2,676.14 -3.41

SSE COMP. 2,758.10 49.12

FTSE 100 6,035.15 -21.28

*Dow Jones 11,848.30 10.37

Global Indices

Staff Reporter

KARACHI: The State Bankof Pakistan has allowedexport cash in UK PoundSterling, Euro and UAEDirhams.

According to a circular ofSBP issued here said thatunder Para 3 of FE CircularNo 4 dated May 09, 2008whereby exchange companieswere disallowed to exportcash in UK Pound Sterling,Euro and UAE Dirhams.

"It has now been decided towithdraw the said instructionswith immediate effect", a SBPstatement said.

The exchange companiesestablished under F E CircularNo 9 of 2002 will, therefore,be allowed to export all types

of FCYs other than US dollarsas per prescribed procedureand declaration at SBP-Customs Joint Booths locatedat Jinnah Int'l Airport,Karachi and Allama Iqbal Int'lAirport, Lahore.

The exchange companiesshall, however, ensure toreceive the equivalent US dol-lars against exported curren-cies in their foreign currencyaccounts maintained withbanks in Pakistan within 3working days.

Evidence to this effectshould immediately be sub-mitted to this departmentagainst each shipment.

Other instructions related tothe subject matter shall, how-ever, remain the same, theBank statement said.

SBP lifts foreigncash exports ban

Except dollar, other currencies may be exported

Monitoring Desk

ISLAMABAD: State Ministerfor Ports and Shipping NabeelGabol tendered his resignationfrom office on Wednesday.

Talking to a private TV chan-nel on telephone, he said, "I donot have any differences withthe government or PakistanPeoples Party and resigned dueto the personal reasons". Gabolsaid that he has sent his resig-nation to Prime Minister SyedYousaf Raza Gilani .

He said that being a stateminister he enjoyed limitedauthority and that the problemsof his ministry were not beingresolved. Nabeel Gabol alsosaid in the capacity of state

minister, he had been unable toaddress the issues of the peopleof Lyari.

Meanwhile Police have raid-ed the house of Nabeel Gaboland sources told that ministryof interior has given verbalorders to put his name on exitcontrol list.

See # 14 Page 11

Gabol on ECLafter resignation

Police raids State Minister House

ISLAMABAD: Pakistanimillers oppose sugar importsfrom India because of fearsNew Delhi may dump surplusproduct and hurt the domesticindustry, an industry officialsaid Wednesday.

Pakistan imposes no importduty on white sugar and thegovernment in September

waived a 25 per cent duty onraw sugar. This was to encour-age the private sector to importsugar to meet feared shortagesafter August flood damagereduced the 2010/11 crop to 3.2million tonnes.

But government and industryofficials now expect production

See # 15 Page 11

Sugar import planangers millers

PSMA says no need to import sugar

Ahmed Siddique

KARACHI: The export of tex-tile products showed a signifi-cant improvement and achievedrecord half yearly mark of$6.28 billion during the firsthalf (July-December) of currentfinancial year against $4.99 bil-lion in the same period of pre-vious year, depicting a rise ofaround 25.8 per cent, FederalBureau of Statistics (FBS)reported Wednesday.

The rise in the country's tex-tile exports can be attributed toglobal economic recovery andhigher per unit price ofPakistan textile products.

In the budget government hasset $21.5 billion export targetfor the current fiscal year, how-ever, later it was revised toaround $20 billion after theunprecedented floods, but

growth in export augurs well ofachieving the original targetalso.

As per details available,ready-made garments exportincreased by 35 per cent to$803 million against $595 mil-lion in 1HFY10.

Similarly, cotton cloth, knit-wear, bed wear and towelexports increased by 30.6 percent, 24.1 per cent, 16 per centand 7.2 per cent to $1.09 bil-lion, $1.1 billion, $983 millionand $343 million respectively.

Similarly, food group exportincreased 6.2 per cent to $1.54billion in 1HFY11 versus $1.45billion in 1HFY10.

In a food group, rice exportregistered a jump of 7.6 percent to $ 994 million against$924 million export of rice wit-nessed in 1HFY10, whereas

See # 17 Page 11

Textile exportsup in first-half

6MFY11: Exports grow 26pc to $6.28bn

ISLAMABAD: Federal Boardof Revenue has collected taxrevenues of Rs654 billion dur-ing the first six months (July-December) of current financialyear 2010-11 showing anincrease of 13.2 per cent collec-tion compared to the same peri-od of last fiscal year.

"The FBR has collectedRs654 billion up to December31, of the current financial yearcompared to the total tax col-lection of Rs582.176 billionachieved during the same peri-od of last fiscal year," MemberDirect Taxes Policy andspokesman FBR, Asrar Rauftold APP here on Wednesday.

He said that a total of2984,563 National Tax Number(NTN holders (up to 30.6.2010)

were supposed to furnish taxreturns for TY 2010.

However, he said that up to31/12/2010, 1965,752 returnswere received.

He said that there is a gap of1018,811 taxpayers who havenot filed the tax returns for theTax Year 2010.

Further out tax 10122 topmarkets/ shopping malls analy-sis shows that only 3,531 per-sons i.e. 35 per cent filed theirtax returns for the TY 2010.

Asrar Rauf said that the col-lection from stuck up revenuestotaling Rs121.1 billion atITAT, high court an ADRCslevel (Rs83.3bn incometax+Rs.37.8bn Sales tax/ FED).

Meanwhile, Public Accounts See # 19 Page 11

FBR tax kitty up13pc at Rs654bn

During first-half of current fiscal

PAC takes serious notice of lapse in FBR internal system

Aamir Abidi

KARACHI: Country's importsof mostly all the sector surgedduring the first half of fiscalyear 2010-11 as import billincreased 19.6 per cent to$19.12 billion during the July-December, 2010 compared to$15.99 billion in the same peri-od last year, mainly due tosurge in commodity prices ininternational market along withhigher demand of cotton, sugarand palm oil.

According to the sector-wisetrade data, oil imports billincreased by almost 17.8 per

cent to $5.46 billion in 1HFY11against $4.64 billion in the cor-responding period last year.

The major surge was wit-nessed on import of curde oilwhich was hiked by 20.2 percent to $2.06 billion versus$1.72 million in 1HFY10.

Similarly, imports of manu-factured petroleum productwent up 16.4 per cent to $3.4billion against $2.92 billionwitnessed in 1HFY10.

Likewise, food group importregistered an increase of 75 percent to $2.71 billion in 1HFY11in which sugar import

See # 21 Page 11

1H import billgrows by 20pc

NA bodyto dig intoPSO losses

ISLAMABAD: A subcommit-tee of the National Assembly'sStanding Committee onPetroleum and NaturalResources will investigate afinancial loss amounting toRs768 million incurred toPakistan State Oil (PSO) by asupplying company namelyZaqsoft.

The subcommittee wouldexamine the case under the con-venership of Nawab Ali Wassan,Abdul Waseem, Syed Haider AliShah and Muhammad BarjeesTahir, MNAs as its members,issued a press release hereWednesday.

The decision to this effect wastaken by National AssemblyStanding Committee onPetroleum and Natural

See # 12 Page 11

Probe intomissing Natotrucks ends

PESHAWAR: Federal Board ofRevenue (FBR) has completedthe investigation of more than3000 Nato oil tankers missingfrom Khyber-Pakhtunkhwa andtribal areas, while it has beenrecommended in the investiga-tion report to take strict actionagainst the 300 personnel ofFBR and Levies Force.

As per details, FBR started toinvestigate into the case of 3000missing Nato-oil tankers. FBRhave recorded statements of thesecurity guards deployed atTorkham border, Levies Forcedeployed at Peshawar Dry port,Aza Kheel dry port, custom mendeployed at Cantt Railway sta-tion, Excise Railway police in

See # 13 Page 11

'Q' gives govt5-pt progress

guidelinesISLAMABAD: PakistanMuslim League Wednesdaygave the government's economicteam its five-point action plan tocounter the economic meltdownsituation the country was facing.

The PML recipe includes pro-vision of immediate relief to themasses, devising energy strate-gy, control on law & order inKarachi and Balochistan, elimi-nation of corrupt practices, endto terrorism and revision in

See # 16 Page 11

FinanceMinistercalls onZardari

Special Correspondent

I S L A M A B A D : F e d e r a lMinister for Finance Dr AbdulHafeez Shaikh Wednesdaycalled on President Asif AliZardari at the Aiwan-e-Sadr.

Briefing the media about themeeting, spokesperson to thePresident Farhatullah KhanBabar said that the FinanceMinister Shaikh briefed thePresident on the status of theongoing economic negotiationswith the international financialinstitutions and discussionswith the Parliamentary partiesin the country.

The overall economic situa-tion and economic policieswere also discussed during themeeting.

Strong

quake runs

countrywideStaff Reporter/ Agencies

KARACHI: Chief meteorolo-gist Mohammad Riaz has saidthat there could be aftershocksduring the next week as thereare active fault lines inBalochistan.

Talking to a private newschannel, he said that the earth-quake occurred in the weehours of Wednesday at around1:23 am and it was felt inBalochistan, Sindh and south-ern Punjab provinces.

He said the epicenter of thequake was found to be inBalochistan area of Kharan andthe magnitude of the earth-quake was 7.4 on Richter scale.

Various parts of the coun-try which felt severe joltsincluded Karachi,Bahawalpur, Thatta, Sukkar,Shikarpur, Badin, Larkana,Mirpur Khas, Khairpur,Noshehro Feroz,Nawabshah, Hyderabad,Quetta, Naseerabad, Kharan,Lahore, Sargodha, and DeraGhazi Khan, he added.

He said there are no initialreports of damage or casualties

See # 18 Page 11

Tal block oiloutput tops

9kbpdGhulam Raza Rajani

KARACHI: Oil & gas produc-tion from Tal block has sub-stantially increased during theprevious week.

As per numbers available,Pakistan oil production fromTal block has increased from

See # 22 Page 11

Special Correspondents /Agencies

ISLAMABAD: Prime MinisterSyed Yousuf Raza Gilani saidWednesday that government istaking all political forces onboard to find out solution ofeconomic challenges beingfaced by the country for sus-tainable economic growth.

Terrorism, he added is themost important challenge facedby the country hampering theeconomic growth as well.

Prime Minister expressedthese views while talking toHaji Ghulam Ahmad Bilour,Minister for Railways whocalled on him at Prime MinisterHouse here Wednesday.

Prime Minister observed thatGovernment was taking all

measures to improve the meansof communication in the coun-try, added railways wasamongst the most used mode ofcommunication and has accessto the far flung areas of thecountry.

The people's governmentgives top priority to facilitatethe poor in commensurate withthe manifesto of PakistanPeoples Party, he said.

Prime Minister asked theMinister for Railways to takesteps to make the railways com-patible with other modes ofcommunication.

Meanwhile, talking to mediaafter addressing the openingceremony of Parliament LodgesPhase 2, Prime Minister Gilanihas said that we are seriouslyholding negotiations with all

political parties to get the coun-try out of financial crisis and forcountering challenges facingthe country.

PM said that no one shoulddoubt our intentions and main-tained that the incumbent gov-ernment has conceded to all theoffers made by the Opposition.

When his attention was drawntowards Karachi situation, thePremier said that "PPP enjoyshealthy ties with ANP andMQM over there".

He said we are not hoodwink-ing anyone with regards to eco-nomic and political situationbut are holding sincere talksand consultations with all polit-ical parties and seeking theirguidance.

He said economic See # 11 Page 11

Coaction soughtfor nat’l issues

Govt to take all on board for sustainable growth: Gilani

Prime Minister says no one should doubt govt's intention

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing at the

“Achievement of 100 Million Subscribers Benchmark”. APP

See on Page 12

Karachi, Thursday, January 20, 2011, Safar-ul-Muzaffar 15, Price Rs12 Pages 12

Pak needs game planto progress: Sharif

2 Thursday, January 20, 2011

TV PROGRAMMES

THURSDAY

Time Programmes

7:00 News

8:00 News

9:00 News

11:00 News

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With

Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With

Jasmeen

23:00 News

23:30 24

KARACHI: MuhammadSaeed Shafiq, PresidentKarachi Chamber ofCommerce and Industry(KCCI) has stressed on theimportance of communica-tion in today's businessworld, the telecommunica-tion holds binary importancein today's business arena.

Saeed Shafiq was speak-ing at the first sub-commit-tee meeting ofCommunication andTransport attended by thePTCL senior management.

He apprised that throughthey are largely in the arenaof wireless communicationbut the importance of land-lines still stood superior and

reliable in comparison ofcell phones as there is nohassle of signals and linedrop; if the connection wasin good working shape.

Junaid Esmail Makda,Vice President remindedPTCL of the agreement onusage of KCCI premises toaccept applications andcomplaints for fixing ofunderground cable.

He accentuated thatPTCL and KCCI shouldsign a Memorandum ofUnderstanding (MoU) formutual interest and coordi-nation.

Shahid Ismail, Advisorsub-committee requestedPTCL that if telephone line

remains out-of-order for 20days in a month, its line rentshould not be charged.

He appraised PTCL of thefact that at present only3,000 telephone lines werefaulty though, for the samein past, average was 60,000to 70,000.

Shahid requested PTCL tooffer discounted tariff forEVO and DSL for KCCImembers.

Liaquat Ali Shaikh,Chairman, Communicationand Transport, Sub-Committee suggested PTCLthat the change and profes-sionalism should spread outand implicit at all levels,across the country. NNI

KCCI for lowertariff from PTCL

Staff Reporter

KARACHI: DuPontPakistan Operations (Pvt.)Ltd. today announced sign-ing of a distribution agree-ment with Berger PaintsPakistan Limited. Underthe agreement, BergerPaints will market and dis-tribute DuPont Refinishproducts in Pakistan.DuPont Refinish is adynamic corporate after-market paint brand ofDuPont that providesunique, innovative paintsystems and localized busi-ness solutions to profes-sional bodyshops.

The agreement will bringto the market a range ofinnovative products, servic-es, and solutions aimed at

improving the efficiencyand effectiveness of thevehicle refinish processesin Pakistan. It will furtherincrease customers' produc-tivity, from the receptionarea to the delivery of therepaired vehicle.

"For more than a decadeDuPont Refinish has beenoffering its bodyshops theability to benefit from thehighest productivity gains.Our products, our advancedmanagement tools, and ourethical, transparent busi-ness relationships togetherwith our reliable, strongsupport for our bodyshops,are the cornerstones of ourbrand. Our fast responseand tailored solutions willhelp local customers buildsustainable solutions.

Berger to marketDuPont products

ISLAMABAD: ZONGreceived an astoundingresponse to their brandnew package "M9". Theservice gives its sub-scribers the flexibility todesign their own package.M9 is offering wide rangeof M9 plans allowing itsuser to pick one of themwith as low as 0.90paisa/minute.

Be it a voice savvy user,a text fanatic or someonewith combination usage,each M9 plan offersunique benefits to its sub-scribers. These benefitsare refreshed every monthalong with free minutes

which the users receiveeveryday based on theirlast day's usage. Becauseof this, M9 customersneed not to wait for pro-motions like putting theirSIMs back and gettingmere and conditional freeminutes or balance.

Internet users are themain invitees for thispackage as they will beable to choose their callrates, free benefits, prod-uct bundles, voice andVAS add-ons with just oneclick. Web, WAP andUSSD menu will be usedto select the right packageas per need. -PR

ZONG's M9receives good

response

KARACHI: Advisor toSindh Chief Minister onInformation SharmilaFarooqui said onWednesday that thePakistan Peoples Party(PPP) government hasstarted various projects tomeet challenges of naturaldisasters like earthquakes,floods and droughts in thecountry and one of thegreat task of it is formingProvincial Disaster

Management Authority(PDMA).

She said that the worldfaced challenge of largernatural disasters butPakistan faced largestones, while Karachi alsofaced risk of naturalcalamities like earthquakesand cyclones, however, thegovernment was deter-mined to tackle these risksin the future, she said in astatement.

The PDMA has success-fully tackled natural disas-ters including cyclone Phetand floods in Sindh, how-ever, there was need toexpand its scope of opera-tions for tackling man-made disasters like fires,building collapses andbomb blasts while the roleof civil society, NGOs andenvironment organizationswas also mandatory in thisregard, sheadded.-NNI

'Govt ready to meetnatural disasters

challenges'

Staff Reporter

KARACHI: FederalMinister for Industries andProduction Mir HazarKhan Bijaranihas said the pri-vatization ofPakistan SteelMills (PSM)was not on thecard as the gov-ernment waspresently work-ing on a 10-point agenda tomake it a prof-itable organiza-tion.

The government is keento expand its productioncapacity and 10 offers inthis regard have alreadybeen received from differ-ent countries.

He said there was nosugar shortage in the coun-try as some 0.4 million tons

sugar was already in stockhence it was premature tofigure out its import forcoming months.

This was stated by Mir

Hazar Khan Bijarani,Federal Minister forIndustries and Productionat the launching ceremonyof Year Book-2010 ofExport Processing ZoneAuthority (EPZA) andAftab Memon's book 'HarPal Saleeb Kay' held here at

a local hotel.He said government is

going to offer lucrativeincentives to the Chineseand Korean auto compa-

nies toa t t r a c tinvestmentsin auto sec-tor.

He saidthe govern-ment wasevolving acomprehen-sive policyto attractinvestmentsfrom Korea

and China in auto sector.He further said althoughthe Chinese and Koreanauto companies would beoffered lucrative incen-tives, the same would notimpair the business rela-tions with the existing autocompanies.

'Govt for investmentin auto sector'

ISLAMABAD: FederalMinister for Law, Justiceand Parliamentary Affairs,Dr Babar Awan has saidthat the people should begiven justice at theirdoorstep without any dis-crimination or delay asjustice delayed is justicedenied.

The Minister empha-sized the role of lawyersfor provision of justice tothe public and facilitatingthem in seeking justiceexpeditiously.

Dr Babar Awan wastalking to delegation ofnewly elected panel in therecent election of District

Bar Association,Islamabad headed byPresident Haroon Rashid.

The newly elected dele-gates of Bahawalpur HighCourt Bar headed byPresident MuhammadAslam Dhukkar, PunjabBar Council Membersunder Chairman,Executive Committee,Rana Muhammad AkramKhan, MuhammadRamzan Chaudhry, newlyelected member ofPakistan Bar Council, Ex-President Lahore BarAssociation Sajid Bashiralso met the LawMinister.

The Minister congratu-lated all the delegates ontheir success and advisedthem to fulfill theirresponsibilities earnestlyand enthusiastically.

President IslamabadBar, Haroon Rashidbriefed the Ministerregarding various prob-lems faced by the lawyers.

The Minister said thatconstruction of lawyers'chambers, provision ofaccommodation and med-ical facilities will be givenspecial attention. Headded that projects relatedto welfare of lawyerscommunity will be expe-

dited on urgent basis.Dr Babar Awan said that

funds would be providedto all bar associations likeprevious year.

The Law Ministerannounced constructionof chambers campus andhospital for lawyers ondemand put forth by dele-gates of IslamabadDistrict Bar Association.

The lawyers thanked theLaw Minister for estab-lishment of IslamabadHigh Court and appreciat-ed provision of furtherfacilities. They assuredthe Minister of their fullcooperation. -NNI

Justice to be dispensed atpeople’s doorsteps: Awan

THURSDAY

Time Programmes

8:00 Chai Time (Rpt)

9:00 News

9:15 Pehla Sauda

10:00 News

10:15 Bazaar

11:00 News

11:05 Ghar Ka Kharch

12:00 News

12:15 Power Lunch

13:00 News

13:05 Islamabad Say (Rpt)

14:00 News

15:02 Akhri Sauda

15:30 Mang Raha Hay

Pakistan (Rpt)

16:15 Karobari Dunya

17:05 Ghar Ka Kharch

(Rpt)

18:05 Chai Time

19:00 News

19:30 Mang Raha Hai

Pakistan

20:00 News

20:05 Islamabad Say

21:00 Pakistan Aaj Raat

22:00 News

22:05 Doosra Pehlu

23:00 News

23:05 Siyasat Mana Hai

0:00 News

Sharmilafor a real

democraticsociety

KARACHI: Advisor toChief Minister Sindh onInformation, SharmilaFaruqui has said that thepromotion of education andsocial awareness plays avital role in the developmentof society and education,journalism and democracygo together and form a realdemocratic society, wherebasic human rights aregranted to all.

This she said while talkingto a delegation of SocialResearch and DevelopmentOrganization here in heroffice Wednesday.

She said that they wereliving in the era of mediaand Information Technologyand the Global had becomean electronic village andwhatever happened one partof the world, the other partof the world knew it withinno time, she added.-NNI

Baig isFPCCI

bankingcommittee

chiefKARACHI: Dr MirzaIkhtiar Baig, a renownedindustrialist and Chairman ofBaig Group, a multinationalconglomerate operating inPakistan, UAE and Moroccofor the last two decades, hasbeen reappointed ChairmanFPCCI Standing Committeeon Banking, Credit &Finance for the year 2011 bythe President FPCCI SenatorGhulam Ali.

Dr. Baig who has a richbackground of int'l banking,credit and finance is headingBanking Committee of theapex body FPCCI for the lastten years and has successful-ly taken up the bankingissues of the business com-munity at State Bank. He hasrendered valuable contribu-tion in revival of sick indus-try in Pakistan.-PR

HBFCLhonoursoutgoing

union chiefTFD Report

KARACHI: HouseBuilding FinanceCorporation Limited(HBFCL), the country's old-est housing finance institu-tion, recently held a ceremo-ny to honour Malik AsifHayat, the outgoingChairman of the trade union.He was recognized for hisinvaluable contributions toboth HBFCL and the Unionover the last 25 years. AsifHayat proved instrumental increating greater understand-ing between the managementand the workers and in guid-ing the MD through sensitiveunion issues.

"HBFCL strongly believesin its people being the com-pany's greatest asset, and tothis end we have developedan excellent working rela-tionship between the man-agement and the workers asrepresented by the collectivebargaining agent," statedAzhar A. Jaffri, the manag-ing director and CEO ofHBFCL adding "MalikHayat is an individual whohas the wisdom to under-stand that while trade unionsrepresent the interests of theworkers, these are directlylinked to the interests of theorganization and both mustgrow together."

Malik Asif Hayat joinedHBFCL in December 1985and was lastly promoted in1996 to the position ofAccount Assistant. He start-ed taking part in trade unionactivities in 2005 andbecame the Chairman of theHBFC Workmen's Union.This trade union won the ref-erendum held in 2006 andbecame the CollectiveBargaining Agent (CBA).Under his leadership in 2010this union again won the ref-erendum for a second term asthe CBA.In 2010 the man-agement of HBFCLannounced a VoluntarySeparation Scheme (VSS)for employees and MalikAsif Hayat availed thescheme.

Gillettemega Mach3

display TFD Report

KARACHI: GillettePakistan, the premiumworld renowned malegrooming brand, unveiled amega Mach3 display atMetro Karachi in the midstof an excited crowd. Thedisplay that carries GilletteMach3 razor packs and car-tridges is one-of-its kindand measures an astound-ing 199 feet in length, mak-ing it the largest Mach3display in Gillette's history.

The highlight of the unveil-ing of mega Mach3 displaywas the announcement of alucky draw with severalprizes. Two lucky winnerswill get the perfect opportuni-ty to win cash prizes facilitat-ing them in fulfilling theirdreams to watch world cuplive. Sharing the lucky drawparticipation guidelines,Salman Yousuf BrandManager Gillette Pakistansaid that the contest participa-tion has been kept very sim-ple; any consumer buyingGillette Mach3 razor fromthis display will be eligible toparticipate in a lucky drawwhich will come to a close onJan 27.

US embassycondemnsPeshawarbombing

TFD Report

ISLAMABAD: The UnitedStates Embassy in Pakistanhas strongly condemned thebombing near a school inPeshawar Wednesday thatleft one person dead andinjured 15 others, most ofthem students. Attackinginnocent children is a repre-hensible act and an affrontto the people of Pakistan.We offer our sincere condo-lences to the families andfriends of the victims, anembassy statement said.

In line with the deepeningpartnership between ourtwo nations, the UnitedStates will continue to standwith the people and govern-ment of Pakistan in bring-ing greater peace, prosperi-ty and justice for its peopleand the region, it added.

ISLAMABAD: Minister for Railways Haji Ghulam Ahmad Blour called on Prime Minister Syed YusufRaza Gilani at PM House.-Online

RAWALPINDI: Chief of Defence Staff, German Armed Forces General VolkerWieker called on Federal Minister for Defence Chaudry Ahmed Mukhtar.-Online

KARACHI: Siemens Pakistan Unique "Apprenticeship Scheme" won the CSRaward at the 5th CSR Awards organized by CSR Association of Pakistan. Zia Ul

Islam Zuberi, Director Communications is seen receiving the award fromProvincial Minister for Auquaf Abdul Haseeb Khan and British Deputy High

Commissioner Robert Gibson. A life time achievement award in CSR was alsogiven to Zuberi by the association.-Staff Photo

KARACHI: Bussiness Manager, DPC RefinishSystems, Middle East, Pakistan and Cyprus shaking

hands with Dr Muhammad Ahmed, MD BergerPaints to market and distribute Dupont Refinish

paint brand.-Staff Photo

MUMBAI: The Indian rupeeended marginally down onWednesday, weighed by muteddollar inflows, choppy sharesand oil importers' dollardemand, after gaining earlier inthe day tracking Asian peers.

Dealers were disappointed asdollar inflows, which wereexpected to pick up towardsTata Steel's ongoing follow-onpublic issue, remained muted."Inflows were there but notmuch. We don't see too muchof (dollar) inflows into TataSteel even in the next two daysthat can have any materialimpact on the rupee," saidAshtosh Raina, head of forextrading at HDFC Bank.

The partially convertible rupeeended at 45.45/46 per dollar,marginally below Tuesday'sclose of 45.42/43 after moving in45.3025-45.4700 band. It isexpected to move in a 45.20-45.50 band on Thursday.

Indian shares shed 0.6 percent on Wednesday, led by adecline in software companies,while outlook remained shakyon interest rate hike concerns.

"There are inflation con-cerns, and then we have themonetary policy next week

which will again impact stocks.So, there will not be muchactivity in rupee this week,"said a foreign bank dealer.

Foreign funds are net sellersof $671.2 million worth ofshares in the year to Tuesdayafter pumping in a record $29.3billion in 2010.

One-month offshore non-deliverable forward contractswere quoted at 45.77, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, United StockExchange, the MCX-SXclosed at 45.5450, 45.5475 and45.5350, respectively. Totaltraded volume on the threeexchanges was about $5.5 bil-lion. -Reuters

Indian rupee a taddown, inflows disappoint

3Thursday, January 20, 2011

Currencies Rate

Karachi: The following are the London Inter-Bank Offered Rates (LIBOR).

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 19/01/2011

A USD GBP CAD EUR JPY

O/N 0.23688 0.55813 0.95500 0.65875 SN 0.09500

1WK 0.25375 0.57063 0.99833 0.67250 0.10350

2WK 0.25594 0.57563 1.04250 0.67750 0.11063

1MO 0.26000 0.59875 1.09500 0.71500 0.12188

2MO 0.28313 0.65750 1.15417 0.82125 0.15000

3MO 0.30313 0.77313 1.24167 0.94750 0.18875

4MO 0.34500 0.85625 1.31167 1.01875 0.24313

5MO 0.40125 0.96063 1.36833 1.10563 0.30000

6MO 0.45469 1.07625 1.44333 1.19563 0.34750

7MO 0.50813 1.15288 1.51000 1.24563 0.39625

8MO 0.56000 1.24100 1.58500 1.30156 0.44313

9MO 0.61563 1.32288 1.65667 1.35375 0.48750

10MO 0.66750 1.40063 1.74500 1.40500 0.51438

11MO 0.72125 1.46938 1.82667 1.44938 0.54125

12MO 0.78031 1.53788 1.91500 1.49750 0.56750

Countries Selling Buying BuyingTT & OD TT Clean OD/T.CHQ

U.S.A. 85.90 85.70 85.51U.K. 137.56 137.24 136.92EURO 115.51 115.25 114.98CANADA 86.72 86.51 86.29SWITZERLAND 89.45 89.24 89.00AUSTRALIA 86.22 86.02 85.79SWEDEN 12.96 12.93 12.90JAPAN 1.04 1.04 1.04NORWAY 14.79 14.76 14.72SINGAPORE 67.03 66.88 66.70DENMARK 15.50 15.47 15.43SAUDI ARABIA 22.91 22.85 22.79HONG KONG 11.05 11.02 10.99CHINA 13.05 13.02 12.98KUWAIT 306.24 305.53 304.72MALAYSIA 28.13 28.07 27.99NEW ZEALAND 66.56 66.40 66.23QATAR 23.59 23.53 23.47U.A.E. 23.39 23.33 23.27KR WON 0.08 0.08 0.08THAILAND 2.82 2.81 2.81

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3485 1.3487 1.3538 1.3368

USD-CHF 0.9601 0.9605 0.9645 0.9571

GBP-USD 1.5973 1.5977 1.6034 1.5946

USD-CAD 0.9925 0.9930 0.9931 0.9890

AUD-USD 1.0038 1.0041 1.0074 0.9963

EUR-JPY 110.7200 110.7600 111.0400 110.3500

EUR-GBP 0.8441 0.8445 0.8453 0.8381

EUR-CHF 1.2949 1.2951 1.2994 1.2879

GBP-JPY 131.1600 131.2300 132.1400 131.1400

CHF-JPY 85.5000 85.5500 85.8800 85.3100

Gold 1371.5500 1373.1500 1378.7900 1366.0500

As per 22.00 PST

Time Source Events Forecast Previous

7:00 CPI y/y [4.6%] 4.7% 5.1%

7:00 GDP q/y 9.3% 9.6%

7:00 Retail Sales y/y 18.9% 18.7%

12:00 German PPI m/m 0.5% 0.2%

16:00 CBI Industrial Order Expectations -1 -3

18:30 Unemployment Claims 422K 445K

20:00 Consumer Confidence -12 -11

20:00 Existing Home Sales 4.88M 4.68M

20:00 Philly Fed Manufacturing Index 20.7 20.8

20:00 CB Leading Index m/m 0.7% 1.1%

Source Events Actual Forecast Previous

JPY Tertiary Industry Activity m/m 0.6% 0.6% 0.3%

EUR Current Account -11.2B -10.2B -9.6B

GBP Claimant Count Change -4.1K -0.3K -3.2K

GBP Average Earnings Index 3m/y 2.1% 2.2% 2.1%

GBP Unemployment Rate 7.9% 7.9% 7.9%

GBP CB Leading Index m/m 0.0% 0.4%

USD Building Permits 0.64M 0.56M 0.54M

USD Housing Starts 0.53M 0.55M 0.55M

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada March 1, 2011 September 8, 2010 1%

Bank of England February 10, 2011 March 5, 2009 0.50%

Bank of Japan January 25, 2011 December 19, 2008 0.10%

Swiss National Bank March 17, 2011 March 12, 2009 0.25%

The Reserve Bank of Australia February 1, 2011 November 2, 2010 4.75%

Federal Reserve n/a December 16, 2008 0.25%

European Central Bank n/a May 7, 2009 1%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, January 19,2011 Treasury Management Division of National Bank ofPakistan (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

ABLN 12.40 12.90 12.50 13.00 12.75 13.25 13.30 13.55 13.50 13.75 13.60 14.10 13.65 14.15 13.70 14.20

JSBL 12.60 13.10 12.70 13.20 13.00 13.50 13.40 13.65 13.60 13.85 13.65 14.15 13.85 14.35 13.90 14.40

ASPK 12.55 13.05 12.65 13.15 12.80 13.30 13.35 13.60 13.45 13.70 13.60 14.10 13.70 14.20 13.80 14.30

CIPK 12.60 13.10 12.70 13.20 12.80 13.30 13.45 13.70 13.65 13.90 13.70 14.20 13.90 14.40 14.10 14.60

DBPK 12.40 12.90 12.55 13.05 12.65 13.15 13.20 13.45 13.40 13.65 13.50 14.00 13.55 14.05 13.60 14.10

FBPK 12.60 13.10 12.65 13.15 12.80 13.30 13.40 13.65 13.55 13.80 13.65 14.15 13.80 14.30 13.90 14.40

FLAH 12.60 13.10 12.70 13.20 12.80 13.30 13.35 13.60 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

HBPK 12.40 12.90 12.65 13.15 12.80 13.30 13.35 13.60 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

HKBP 12.70 13.20 12.75 13.25 12.80 13.30 13.45 13.70 13.65 13.90 13.75 14.25 13.85 14.35 13.90 14.40

NIPK 12.65 13.15 12.85 13.35 13.10 13.60 13.50 13.75 13.60 13.85 13.70 14.20 13.80 14.30 13.90 14.40

HMBP 12.60 13.10 12.65 13.15 12.75 13.25 13.35 13.60 13.50 13.75 13.55 14.05 13.60 14.10 13.70 14.20

SAMB 12.50 13.00 12.70 13.20 12.85 13.35 13.45 13.70 13.60 13.85 13.60 14.10 13.75 14.25 13.85 14.35

MCBK 12.30 12.80 12.50 13.00 12.65 13.15 13.25 13.50 13.40 13.65 13.50 14.00 13.60 14.10 13.75 14.25

NBPK 12.50 13.00 12.60 13.10 12.80 13.30 13.30 13.55 13.40 13.65 13.50 14.00 13.65 14.15 13.75 14.25

SCPK 12.45 12.95 12.55 13.05 12.70 13.20 13.35 13.60 13.45 13.70 13.55 14.05 13.70 14.20 13.80 14.30

UBPL 12.60 13.10 12.70 13.20 12.75 13.25 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.70 14.20

AVE 12.54 13.04 12.66 13.16 12.79 13.29 13.37 13.62 13.52 13.77 13.60 14.10 13.72 14.22 13.81 14.31

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)19/01/2011

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

1 week 0.38 0.98 0.90 0.98 0.98 0.91 -0.13 -0.911 month -0.40 0.76 -0.37 0.52 0.45 0.48 -0.66 0.233 months -0.02 0.78 0.31 0.81 0.78 0.68 0.12 0.326 months 0.44 0.58 0.53 0.75 0.81 0.62 -0.41 -0.291 year 0.67 -0.23 0.05 0.05 0.75 0.70 -0.27 -0.782 years 0.52 0.14 -0.12 0.43 0.80 0.57 -0.45 -0.65

Currencies CorrelationGBP/USD

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.60 12.70 12.65 12.70 12.80 12.60 12.68

8-15dys 12.70 12.82 12.70 12.80 12.85 12.75 12.77

16-30dys 12.90 12.85 12.90 12.90 12.90 12.90 12.89

31-60dys 13.00 13.00 13.06 13.05 13.05 13.10 13.04

61-90dys 13.35 13.34 13.40 13.40 13.40 13.40 13.38

91-120dys 13.42 13.45 13.47 13.44 13.35 13.45 13.43

121-180dys 13.45 13.55 13.49 13.47 13.40 13.52 13.48

181-270dys 13.60 13.55 13.55 13.65 13.55 13.60 13.58

271-365dys 13.75 13.72 13.72 13.77 13.70 13.75 13.74

2-- years 14.00 14.00 14.00 14.00 14.05 14.00 14.01

3-- years 14.22 14.20 14.22 14.23 14.25 14.20 14.22

4-- years 14.22 14.22 14.23 14.24 14.22 14.22 14.23

5-- years 14.25 14.20 14.22 14.25 14.20 14.24 14.23

6-- years 14.25 14.35 14.34 14.28 14.30 14.30 14.30

7-- years 14.25 14.35 14.35 14.30 14.35 14.35 14.33

8-- years 14.26 14.25 14.25 14.30 14.26 14.30 14.27

9-- years 14.26 14.16 14.17 14.15 14.20 14.16 14.18

10--years 14.27 14.26 14.27 14.25 14.26 14.25 14.26

15--years 14.60 14.60 14.55 14.65 14.55 14.70 14.61

20--years 14.80 14.75 14.75 14.90 14.75 14.90 14.81

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for January 19, 2011

NEW YORK: The euro rallied to aneight-week high against the dollar onWednesday on growing hopes euro-zone officials will navigate the sover-eign debt crisis, with further gains seenif key levels are sustained.

The euro rose on reports of Asiansovereign buying and continued short-covering, while traders pushed the sin-gle currency above a key technicallevel. The euro, shared by 17 countries,climbed more than 1 per cent to hit aneight-week high of $1.3538, accordingto Reuters data and last traded at$1.3504.

The euro could extend gains in theweeks ahead on hopes that policymak-ers would prevent a debt crisis that hasengulfed Greece and Ireland fromspreading. "People are very impressedwith the determination of European offi-

cials and are expecting them to success-fully deal with the sovereign debt crisis,"said Steven Englander, head of G10 strat-egy at CitiFX inNew York.

"The ramped-up rhetoric ishaving animpact, but thattends to be tem-porary. So atsome point inthe first quarter, investors are going tobe looking to see if this determinationtranslates into concrete action," headded.

Front-end euro/dollar volatility hasremained subdued in the last few days,settling between the 12.0 per cent to13.0 per cent range.

On Wednesday, one-month volatility

on the currency pair traded at 12.55 percent, sliding from as high as 14.0 percent at the beginning of the year.

Current levels suggested optionsinvestors have become less nervousabout the debt crisis and do not expectany major hiccup in the region over thenext 30 days.

For a second straight day traders alsocited significant covering of bearisheuro/dollar trade structures and stronginterest to sell euro/dollar volatility.

The euro brushed off a German news-paper report that the government wasconsidering a plan to allow Greece tobuy back its own debt using a euro-zone crisis fund. Athens and Berlindenied the report.

The currency was supported as theGerman government raised its forecastfor 2011 economic growth Wednesdayfollowing a strong reading of economicsentiment the previous day.

The euro's gains have helped push thedollar index to an eight-week low of78.334, down 0.7 per cent. It last tradedat 78.442. The euro briefly rallied to aone-month high against the Swiss francof 1.2994 francs ahead of a press con-ference by the Swiss government.Some traders speculated that officialsmay try to talk down the Swiss curren-cy. -Reuters

Euro hits 8-wk high vs USDas debt fears wear down

SHANGHAI: China's yuanended barely changed againstthe dollar on Wednesday, off-seting a record high fixing, asinvestors grew cautious thatthe Chinese central bankcould pull the yuan back afterPresident Hu Jintao's USvisit.

The yuan in the spot marketclosed at 6.5824 per dollar,almost flat from Tuesday's6.5829, after China's centralbank set the daily mid-pointfor the yuan at a record highof 6.5885, up from Tuesday's6.5891.

The yuan has risen 3.70since its mid-June depegging.

"From the mid-point andthe spot yuan trade range, it'sclear the market has noexpectations of a further risein the yuan after Hu finisheshis visit," said a dealer at anAsian bank in Shanghai.

Dealers said a sharp yuanrise would attract large fundflows into the Chinese mar-ket, so hot money and infla-tionary pressure would com-pel the People's Bank ofChina to resort to more

domestic tools such as inter-est rates and reserve require-ments.

Dealers said the yuan wasexpected to pull back orlargely track the US dollarindex's movements after theChinese president's 18-21 UStrip. The near-term floor forthe currency was seen at 6.60,with possibly a few quota-tions straying away from thatarea but not likely to reversethe fact that the yuan hasentered a new range abovethe 6.60 level.

One-year dollar/yuan NDFswere bid at 6.4560, littlechanged from Tuesday's closeof 6.4450. Their implied yuanappreciation in a year's timefell slightly to 2.05 per centfrom Tuesday's 2.23 per cent.

At current levels, impliedappreciation via one-yearNDFs stands at a measly 2per cent. That is much belowa Reuters poll of more than 5per cent in 2011, and wellbelow a 4 per cent expectedrise in the yuan just before theG20 meeting in Seoul inNovember. -Reuters

Yuan little changed,Hu’s trip in focus

LONDON: Sterling cededground to a broadly firmer euroon Wednesday as the single cur-rency was buoyed by growinghopes that euro-zone policymak-ers will be able to navigate theirway through the sovereign debtcrisis.

The pound eased from eight-week highs against the dollar asinvestors took profit on longpositions.

Rising inflation and a morehawkish outlook for interest rateshelped to underpin the UK cur-rency, but sentiment was dentedby data showing the number ofBritons out of work rose by itsmost in eight months in the threemonths to November while wagegrowth remained in check.

The euro was up 0.6 per centagainst sterling at 84.35 penceafter rising as high as 84.53 dur-ing the afternoon.

"The euro is supported acrossthe board - it's been the best per-forming G10 currency for thepast five days," said Valentin

Marinov, currency strategist atCitiFX. "Investors have respond-ed to signals from euro-zone offi-cials that they will work on morecomprehensive solutions to prob-lems on the periphery."

The UK jobless claimant countfells by 4,100 in December, con-founding forecasts for a rise of1,500 and after a revised 3,200decline in November, but ana-lysts pointed to the risks of a soft

labour market in the monthsahead as the public sector startsshedding jobs. Higher than-expected consumer price infla-tion on Tuesday increased expec-tations that UK interest rateswould need to rise soon and tooksterling to an eight-week high of$1.6060. It slipped below the$1.60 level on Wednesday, butwas still up 0.1 per cent on theday at $1.5976.

Next resistance was at$1.6090/95, the 78.6 per centretracement of a move from itsNov. 4 high to its Dec. 28 low of$1.5345. -Reuters

Sterling slips vseuro, steady against $

SINGAPORE: The SouthKorean won and the Philippinepeso led gains in Asian currencieson Wednesday as investorsreduced dollar positions on abroad weakness in the greenback.

Central banks in Taiwan andMalaysia were spotted buyingdollars to cap gains in their cur-rencies while caution over inter-vention by Seoul also preventedthe won from strengthening past1,110 per dollar.

Asian currencies were expectedto stay firm as the dollar index hita two-month low, breakingthrough the bottom of the dailyichimoku chart, dealers said.

The won rose as one of thecountry's shipbuilders announced

a big foreign order and marketplayers cleared dollar-long posi-tions. However, caution grewover possible dollar-buying inter-vention by the foreign exchangeauthorities to stem its strength.

"Few expect the won tostrengthen past 1,110, so offshoreare not active buyers around thislevel," said a foreign bank dealerin Seoul. Another dealer said thewon may cut gains if the eurofalls or Seoul shares give up rises.

The peso gained 0.4 per cent ona jump in the euro and with datashowing the country's balance ofpayment last year hit a recordhigh of $14.4 billion.

Credit Agricole expects thepeso to strengthen to 41.50 per

dollar at the end of this year asworries about the country's infla-tion is groundless and on strongcurrent account surplus.

The Taiwan dollar rose 1.5 percent, but stayed weaker thanT$29 per US dollar as the centralbank placed many bids for thegreenback. That made investorsand exporters reluctant to sell theUS dollars, dealers said.

A trader at a local bank inTaiwan said exporters might onlyoffer more US dollar next weekbefore the China Lunar new year.

A Taiwan dollar dealer at a USbank in Singapore said he expect-ed the Taiwan central bank todefend the T$29 for the timebeing. -Reuters

Asian currencies

Won, peso gains; Taiwanintervention spotted

SYDNEY/WELLINGTON: The Australiandollar hit a two week-high against a broadlyweaker US currency on Wednesday, under-pinned by talk of central bank buying, gains incommodity prices and stop-loss buying aftertechnical levels were breached.

A media report of a slowdown in Chineseinflation, a day ahead of the official release, wasalso positive for the currency because such anoutcome, if true, would alleviate the need foraggressive monetary tightening in China, amajor export market for Australia.

The Australian dollar rose as high as $1.0051,from $0.9981 late in New York, having piercedthrough its 21-day moving average at $1.0026.

It last traded at $1.0044, with immediateresistance at $1.0070, the Jan. 5 high, and sup-port at $0.9962.

"It's due to a broader dollar move ... and a bet-ter performance of some of the Asian equitymarkets like China," said John Horner, strategistat Deutsche Bank.

The Aussie has been recovering from a heavysell-down last week following damaging floods

in the coal-exporting state of Queensland, andmore recently from China's move to tighten pol-icy. Meanwhile, the New Zealand dollar alsotouched two-week highs versus the greenback inthin trade, hitting $0.7758, before settling backto around $0.7754.

"A lack of economic momentum means a sus-tained NZ dollar break above $0.7800 looks abridge too far in the near term," said BNZ cur-rency strategist Mike Jones, adding that inflationdata due Thursday was the key risk.

Consumer prices are expected to have risen2.3 per cent in the fourth quarter on the previousthree months, largely because of a rise in salestax, with the annual rate hitting 4 per cent,although the underlying rate is expected to beconstrained.

Near term support for the NZ dollar is seen at$0.7694, the overnight low, while resistance isthe Jan 3 high of $0.7784.

The kiwi continued to underperform its neigh-bour, which has seen the Aussie edge up over thepast few sessions from six week-lows. It lasttraded around $1.2952. -Reuters

Australian, NZ dollarsscale 2-wk peak vs USD

Swiss francdeclinesvs euro

ZURICH: The Swiss franctraded lower against the euroon Wednesday, but tracked thesingle currency higher againstthe dollar as talk of Asian cen-tral banks buying the euro andthe Australian dollar weighedon the greenback.

Upbeat earnings outlooks andbetter-than expected resultsfrom shining tech light Applecombined with a surge inGerman investor sentiment toweaken the allure of the Swissfranc as a safe haven, buoy riskappetite and lift the euro.

The franc has pulled backsharply against the euro afterhitting an all-time high at 1.24francs per euro at the start of2011, but remains at historical-ly high levels against both thefranc and the euro, puttingpressure on Swiss exporters.

Some jewellers and watch-makers said on the fringes of aninternational watch fair inGeneva this week that they arepreparing for further priceincreases in 2011 to reflect cur-rency fluctuations and rising pre-cious metals prices. The francfell 0.1 per cent against the eurocompared to the New York close,trading at 1.2918 francs per euroat 0752 GMT. The franc jumped0.6 per cent against the dollar to0.958 francs per dollar. -Reuters

Intervention in Taiwan, Malaysia spotted

Options shows less nervousness about debt crisis

Disclaimer:All reports and recommendations have been prepared for your information

only. Summary and Analysis are not recommendation to buy or sell. This

information should only be used by investors who are aware of the risk inher-

ent in securities trading. The facts, information, data, indicators and charts

presented have been obtained from sources believed to be reliable, but their

accuracy and completeness cannot be guaranteed. The Financial Daily

International and its employees are not responsible for any loss arising from

use of these reports and recommendations.

100million

cell users Since liberalisation, deregulation and pri-

vatisation in the telecommunication sector,not only the number of telephone subscribershas increased manifold but tariffs have alsocome down considerably. It may be said thataffordability has played a key role in increas-ing teledensity and the growing base of sub-scribers has enabled the service providers tocome up with innovative services. At onetime owning a mobile telephone number wasconsidered a status symbol but now even thepoorest of all own more than one SIM, thanksto latest technology now a cellular phone canhouse up to four SIMS.

The three services, SMS packages, declin-ing tariff, and easy load facility of up to Rs10or loans up to Rs15 allow the subscriberseven to live within the smallest of budgets.Added attractions are free minutes on thesame network and much much more. Theseand many other facilities have crazed theyoungsters. Now one can watch televisionand use cell phone for sending/receiving e-mails, in other words a cell phone has becomea complete tool to remain connected with thefriends, getting latest news updates and alsoenjoys 24-hours uninterrupted entertainmentat a very nominal cost.

The bull-run of telecom industry has becomea major source of revenue collection for thegovernment. Players, fully cognisant of themarket potential are willing to enhance thevalue of their bids and new players are enteringthe market with big plans. Though, the importof equipment and handheld sets erodes coun-try's foreign exchange, receipt of licence fees inforeign exchange and collection of billions ofrupees as taxes encourages the government tofacilitate induction of the latest technology.However, overindulgence of subscribers withthe cellular phones has also raised potentialthreats.

The younger generation spends more time fid-dling with the cellular phones and the craze toown and also show off newer handsets has ledto more snatchings, often resulting in killingagainst resistance. Indiscriminate use of phonewhile driving also exposes not only the usersbut also other road-users to road accidents thatcould be fatal.

It is on record that cellular phones are alsoextensively used in target killing, kidnappingfor ransoms, car snatchings, robberies, andremote-controlled bomb blasts. Since the gov-ernment has not been able to contain phonesnatching, certain markets under the patronageof some corrupt members of law enforcingagencies are doing roaring business.

It is good that the government policies havemade use of cellular phones affordable even forthe poorest strata of the society. It is also theresponsibility of the government to curb themisuse of the technology.


Publisher & Editor-in-Chief: Amir A. Ashary

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

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The Financial Daily InternationalVol 4, Issue 158

Hamid Waheed

Each passing day discovers newrealities about the much trum-peted 'shining' India while the

truth glitters from false cover stories.On night between February 17-18,2007 at least 68 people, mostlyPakistanis, were killed in a series ofexplosions and a resultant fire onPakistan-bound train in the northernIndian state of Haryana, near Panipat,about 80km north of Delhi. Initialinvestigations blamed the Pakistan-based LeT (Lashkar-e-Taiba) and JeM(Jaish-e-Muhammad), so much so aPakistani national, Azmat Ali, wasalso arrested in this connection. Laterit was found by the police that right-wing Hindu activists and an Indianarmy officer Colonel Purohit had asignificant role in not only theSamjhauta Express bombing but alsoin the Malegaon and other similar ter-rorist incidents. The confessions ofSwami Aseemanand have now furtherconfirmed the Hindutva radicals' rolein terrorism.

In the Makkah Masjid blast on May18, 2007, 14 people were killed and asa reaction around 80 Muslims wereinitially rounded up by the police. Theinvestigations followed the script tillthe CBI found evidence that mobilephone-detonated explosives packed inmetal tubes were similar to the Ajmerblasts. "The bombs are believed tohave contained a deadly mix of RDXand TNT, in proportions often used bythe Indian army." CBI directorAshwani Kumar told the media that anactivist named Sunil Joshi "played akey role in orchestrating the Ajmerblast and a set of mobile SIM cardsthat had been used in activation of thebomb-triggers in the Makka Masjidblast was used again in the Ajmerblast". India's National InvestigatingAgency (NIA) filed a case in a courtaccusing 11 Hindus and members ofthe ultra-right-wing Sanathan Sanstha,of masterminding and executing the

October 2009 Margao blast. Initialsuspicion and interrogation of sus-pected Muslim men, some believed tobe members of "sleeper cells of jihadigroups" turned out to be an allegation.

In Ajmer Sharif blast on October 11,2007, three people died and in 2010,Rajasthan's ATS arrested DevendraGupta, Chandrashekhar and VishnuPrasad. Initial arrests of Abdul HafizShamim, Khushibur Rahman, ImranAli linked to HuJI (Hizbul Jihad eIslami), LeT (Lashkar-e-Taiba) couldnot be proved. Again in Malegaon'sanother blast (second in the series) inSeptember 2008 - that claimed sevenpeople - Pragya Singh Thakur, Lt ColSrikant Purohit and Swami

Amritanand Dev were foundinvolved. The 2008 Malegaon bomb-ing forced the review of the role ofHindutva groups. The ATS investiga-tion led to Sadhvi Pragya SinghThakur, whose motorcycle was usedto explode the bomb, and then to 13others, including Lt Col PrasadShrikant Purohit, the first-ever Indianarmy's serving officer to be chargedwith involvement in terrorism, help-ing, funding, training and arming theHindu terror groups. During interro-gation, Col Purohit disclosed to ATSinvestigators that he had provided the

RDX for the Makkah Masjid blastsbut the ATS was reportedly asked notto make it public as the Hyderabadpolice had detained Hizbul Jihad-e-Islami suspects.

All such facts on investigations canbe summarized in what a human rightactivist and Mumbai advocate Mihirsaid," It is believed that CBI is seek-ing directions from the home min-istry to see the Ajmer, MakkahMasjid, Malegaon and other blasts inconjunction, after there has been noconclusive evidence of the involve-ment of Islamic groups". The faultlines are not only visible within civillaw enforcement agencies but thenuclear security and military issues

like abduction and later murder of animportant nuclear scientist LoknathMahalingam in Jun 2009, 61 truckscarrying 300 tons of explosives goingmissing in August 2010 and involve-ment of top Indian officers and politi-cians in Kargil soldiers housing soci-ety scam are few of the burning top-ics. HR violations in Kashmir andrefusal of Indian army to implement25% reduction of forces in Kashmirannounced by their own governmentreflects the oncoming challenges forIndian secularism and security.

The lower class Hindus, Muslims

and people from other beliefs sufferfrom the atrocities committed by thestate machinery. However, with eachincident, India's initial reactions andthe final revelations of the facts theprinciple of nature keeps denuding thefalse Indian propaganda and atrocitiesagainst its own people. Some con-science Indian writers like ArundutaRoy, officials like formerMaharashtra IG police SM Mushrifalong with human rights organisationskeep raising their voices wheneverthey can under coercive environmentof Hindu extremist elements. TodaySikhs, Christian, Muslims and Dalits(the untouchable humans) are victimof state policies and inequality inIndia. Historically, the exclusion of65 million Dalits from the Indiansociety has been on religious and cul-tural grounds. Still due to pre-assigned duties of the caste intowhich they are born, many Dalits aredestined to do sanitation jobs, trans-port human excreta manually, clearanimal carcasses and human remains.Frequently, subjected to humiliation,often the victims of rape and enforcedprostitution, controlled in parts of thecountry by caste militias, the Dalitsare virtually slaves and hardly in aposition to choose a profession oftheir own choice. In this case, theUnited Nations Human RightsCouncil's (UNHRC) September 2009decision to declare discriminationbased on the caste system a "human-rights abuse" has stirred up harshopposition from India. However, theUN's decision came about despitestrong disagreement from the Indiangovernment and its aggressive lobby-ing to get the council to delete theword "caste" from its draft. The sec-ular India may collapse as the hindut-va mindset takes over and the glitter-ing shine may sometimes be of inno-cent blood. The Indian leadership andthe world community must help fightthe upcoming challenge of state spon-sored terrorism.

See, How India Shines!

The absence of Islamistslogans from Tunisia'spro-democracy revolt

punches a hole in the argumentof many Arab autocrats thatthey are the bulwark stoppingreligious radicals sweeping topower.

Ousted president Zine al-Abidine Ben Ali spent much ofhis 23-year rule crushingIslamist opposition groups whoopposed his government'sbrand of strict secularism: afterSept. 11 2001, he was anenthusiastic backer ofWashington's "war on terror".

But the evidence of the pastweek is that the protest slogansthat rang out before his falldemanded not an imposition ofIslamic sharia law but fair elec-tions and free speech.

"The lesson from what's hap-pening in Tunisia is that (Arableaders) won't be able to hideany more behind the Islamistthreat argument," said AmelBoubekeur, a North Africa spe-cialist at social sciences schoolEHESS in Paris.

It remains to be seen whetherTunisia's enfeebled Islamistswill be able to win significantsupport in the event that theyare unbanned and allowed tocontest planned free elections.

But so far most complaintslevelled at a new interim gov-ernment set up after Ben Alifled to Saudi Arabia havefocused not on a lack ofIslamists but on too many facesfrom the old regime.

Islamists were "not able tocarry the concerns and long-ings of the vast majority ofTunisian people, especially themiddle class which has chosenfreedom and justice," saidEgyptian political analystNabil Abdel Fatah.

It looks embarrassing for the

Western governments thatspent decades justifying theirsupport for Ben Ali -- and othersecular-minded Arab worldstrongmen -- by suggesting thealternative was Iran-styleIslamic revolution.

From Syria to Egypt and

Algeria, governments haveused the Islamist peril to justi-fy draconian security policiesand emergency laws thatgnawed at civil liberties andallowed broad powers ofsearch, arrest and imprison-ment without trial.

Civil liberties campaignershave long said the Islamistthreat is a thin pretext todestroy not just the Islamistsbut all challenges to the grip ofruling elites.

"We've seen this in Egypt,where the regime makes itimpossible for secular politicalopposition forces to get any-where in order to tell the Westit's the Islamists or us," saidNorth Africa expert HughRoberts.

Analysts said Arab rulersmight respond by backtrackingon anti-Islamist rhetoric andwarning instead of the dangerof social chaos caused by highunemployment.

TUNISIA ISLAMISTSDIVIDED, WEAK

Political Islam does seemuniquely weak in Tunisia -- a

relatively wealthy country witha strong education system anddeep ties to secular France --compared to its Arab neigh-bours.

Leaders of Tunisia's moder-ate Islamist Ennahda(Renaissance) movement have

said they want to cooperatewith the interim government,not overthrow the country'ssecular institutions.

Tunisian authorities out-lawed Ennahda in the early1990s, after accusing it of aviolent plot to overthrow secu-lar rule. Hundreds of Ennahda

supporters were put on trial inTunisia in the 1990s while oth-ers fled to Europe.

The movement, whose exiledleader Rached Ghannouchi hassaid he plans to return, denies itseeks violence. Its thinking isseen by some analysts as intune with the moderateIslamist-rooted AK party thatcame to power in Turkey in2002.

In a bid to exploit Tunisia'sunrest, the Algerian-based AlQaeda in the Islamic Maghrebcalled on Tunisian youth tojoin its fighters for training inAlgeria.

But analysts say the grouphas negligible support, even in

Algeria. AlQaeda analystCamille Tawilsaid that whilesmall numbers ofangry youngTunisians mighteventually betempted, it wasclear demonstra-tors were ordi-nary peoplep r o t e s t i n g

against despotism and the alQaeda appeal would have noimpact.

Across the region, Israel'sconflict with the Palestine andthe US-led invasions of Iraqand Afghanistan have bolsteredthe message propagated byreligious radicals that the West

is waging a war on Muslims.In reaction, Arab societies

have become more outwardlypious, with more women wear-ing veils, more men wearingbeards and more people attend-ing mosques.

Even in Tunisia, mosquesbecame spaces for politicalprotest and some youngTunisians adopted a languageof revolt that took a cue from

Salafist groups and Egypt'sMuslim Brotherhood.

"There has been growth inTunisia of what could be calledmanifestations of popularpiety," said Michael Willis ofOxford University. "But manyTunisians see that as a protestagainst the regime, as Ben Alispoke against headscarves."

"The Islamist opposition isnot what it was 20 years ago,"said Boubekeur. "Many youngpeople don't even know whoRached Ghannouchi is."

Elsewhere in the Arab world,moderate Islamists havebecome part of the politicallandscape, all touting the val-ues of freedom and democracy,at least in public.

"We hope (Tunisia's) popularintifada will be crowned by apluralistic democratic regimethat guarantees everyone theirrights," Sheikh HamzaMansour, head of Jordan'sIslamic Action Front, toldReuters.

Commenting on Tunisia,M o r o c c o ' sJustice andD e v e l o p m e n tParty (PJD) said"achieving sta-bility and pros-perity is tied torespecting thed e m o c r a t i coption and thepeople's will".

Egypt's Muslim Brotherhoodwelcomed the overthrow of anautocrat in Tunisia and saidmany Tunisian problems werealso true of Egypt.

The group, which is thecountry's biggest oppositionforce and could rally thousandsof supporters according tosome analysts, refuses to con-front the state on the streets.-Reuters

Anatomy of Tunisian Revolt

The Blame Game The Supreme Court, according to reports on Jan

19, has issued a clear warning to the intelligenceagencies, most specifically, the ISI to either gettheir act together or to face criminal charges.Hundreds of cases of missing persons have beenreported and registered from which some have beenlocated while the whereabouts of most are stillunknown. The trend that this rising issue has givenbirth to is the popular notion of intelligence agen-cies being behind every such disappearance. This istrue, but only partially as many cases reportedagainst the agencies have proved wrong when real-ities of many disappeared people was exposed as

they have either joined the jihadists or even triedtheir luck at being transported illegally out of thecountry by containers and launches. One such caseis that of 15 year old Hassan Sharjeel, the son ofShakeel Turabi who disappeared one morning whilegoing to college. After hurling huge allegations onPakistani agencies it was found that he had joinedthe extremists in Afghanistan and was fightingalongside the terrorists.

Apparently, the Pakistani agencies have beendragged unnecessarily in the international horizonmore often by both US and India for their allegedinvolvement in various terror acts which are dis-

proved at a later date after the damage is done interms of authenticity and morale. The summoningof ISI chief to US courts and blaming ISI for attackson Indian soil are all tarnishing our global image.

The people, media and our politicians need togrow wise and mature in handling issues of suchdelicate nature. The agencies are also an integralpart of our security infrastructure and a dire require-ment at this particular point in time. Instead of fol-lowing popular trends a professional approachneeds to be adopted in which interest of the countryshould always take priority.

Dr Qabil Khan, Peshawar

The lower class Hindus, Muslimsand people from other beliefs

suffer from the atrocities committedby the state machinery. However, witheach incident, India's initial reactionsand the final revelations of the facts

the principle of nature keeps denudingthe false Indian propaganda andatrocities against its own people

“

"The lesson from what's happeningin Tunisia is that (Arab leaders)

won't be able to hide any more behindthe Islamist threat argument," said AmelBoubekeur, a North Africa specialist atsocial sciences school EHESS in Paris.

“

Islamists were "not able to carry the concernsand longings of the vast majority of

Tunisian people, especially the middle classwhich has chosen freedom and justice," saidEgyptian political analyst Nabil Abdel Fatah

FERTILISER000 tonnesUrea Offtake (Jan to Nov 10) 5,463Urea Offtake (Nov 10) 845Urea Price (Rs/50 kg) 870DAP Offtake (Jan to Nov 09) 121DAP Offtake (Nov 10) 152DAP Price (Rs/50 kg) 3,137

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Nov 10) 33,929

Sales (July 10 to Nov 10) 32,092

Production (Nov 10) 7,087

Sales (Nov 10) 6,813

INDUS MOTOR COProduction (July 10 to Nov 10) 20,987




HONDA ATLAS CARProduction (July 10 to Nov 10)6,626




DEWAN FAROOQ MOTORSProduction (July 10 to Nov 10) 186

Sales (July 10 to Nov 10) 70

Production (Nov 10) 0

Sales (Nov 10) 0

BANKING SECTORScheduled bank (Rs in mn)Deposit (December 3,10) 4,824,464

Advances (December 3,10) 3,050,639

Investments (December 3,10) 1,916,917

Spread (October 10) 7.49%

OIL MARKETING CO(000 tons)MS (Jul 10 to Nov 10) 932

MS (Nov 10) 186

Kerosene (Jul 10 to Nov 10) 66

Kerosene (Nov 10) 12

JP (Jul 10 to Nov 10) 589

JP (Nov 10) 124

HSD (Jul 10 to Nov 10) 2,792

HSD (Nov 10) 612

LDO (Jul 10 to Nov 10)) 26

LDO (Nov 10) 4

Fuel Oil (Jul 10 to Nov 10) 3,641

Fuel Oil (Nov 10) 572

Others (Jul 10 to Nov 10) 3

Others (Nov 10) 1

PRICES (Ex-Refinery) RsMS (1 Dec 10) 45.15

MS (1 Nov 10) 44.53

MS % Chg 1.39%

Kerosene (1 Dec 10) 52.04

Kerosene (1 Nov 10) 51.25

Kerosene % Chg 1.54%

JP-1 (1 Dec 10) 52.27

JP-1 (1 Nov 10) 51.48

JP-1 % Chg 1.53%

HSD (1 Dec 10) 55.20

HSD (1 Nov 10) 54.24

HSD % Chg 1.77%

LDO (1 Dec 10) 50.52

LDO (1 Nov 10) 49.51

LDO % Chg 2.04%

Fuel Oil (1 Dec 10) 43,019

Fuel Oil (1 Nov 10) 42,046

Sector Updates

Symbol Close Vol (mn)LOTPTA 16.19 45.77 FFBL 42.14 15.76 PTC 20.03 12.55 NML 71.23 12.45 DGKC 30.20 7.32

Symbol Close ChangeULEVER 4,577.17 72.88

NESTLE 2,825.67 18.96

IDYM 194.95 6.94

TRIPF 140.12 6.62

SAPL 155.75 5.60

Symbol Close ChangeRMPL 2,182.60 -72.4WYETH 984.25 -30.75SIEM 1,210.74 -28.03UPFL 1,160.00 -26.67COLG 991.40 -16.78

Plus 140Minus 235Unchanged 22

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Thursday, January 20, 2011 5

Dhiyan

Current political uncertainty and overbought levels of bluechips arepropelling investors to book profits. A rebound is expected at 12,516level, however if index breaches 12,516 level barrier then it can falldown to 12,436 points. Investors should take positions with stop lossand follow 'sell on strength' strategy. Invest in fertiliser and oil stocksclose to their result announcements. Corporate results, launch ofMTS and no change in key interest rate would prove trade-triggers.Market outlook is negative for today.

Muhammad Ahsan Rasheed, Director Research & Marketing AMJ Growth

Salman Naqvi, Head of Sales Aba Ali Habib SecuritiesCorrection might continue however it wouldn't be a major one as index may

decline by just 50-100 points. Thereafter market would resume bullish activ-ities due to higher international oil prices, hopes of better corporate results,and foreign interest. The only threat to the market which can re-invite correc-tion is the increase in interest rates. Adopt 'buy on dips' stance and invest inoil, fertiliser and power sectors. They can also invest in selective stocks ofbanking and cement sectors. Market might open negative today but it wouldrecover later on.

RED ALERT!

Opening 12,658.16

Closing 12,577.61

Change 80.55

% Change 0.64

Turnover (mn) 188.01

Opening 3,953.47

Closing 3,936.12

Change 17.35

% Change 0.44

Turnover (mn) 7.48

Opening 3,135.46

Closing 3,107.52

Change 27.94

% Change 0.89

Turnover (mn) 0.11

MUMBAI: Sharad Pawar (C), president of the International Cricket Council (ICC), ICC chief executive Haroon Lorgart (2nd R), and ICC 2011World Cup director Ratnakar Shetty (2nd L) pose with the 2011 World Cup trophy during a function at the Bombay Stock Exchange.-Reuters

HONG KONG/SHANGHAI:Shares in China and HongKong rose on Wednesday inrelatively healthy turnover asinvestors scooped up compa-nies most likely to benefit froma global economic recovery.

China's key stock indexclosed up 1.8 per cent, support-ed by a report that showed con-sumer inflation eased inDecember from a recent peakin November, traders said.

While the figure was not asurprise since December CPIfor last year was high comparedwith 2009, some investors tooksigns of easing inflation as cueto hunt for bargains after themarket's steep falls earlier thisweek.

China is scheduled to publishthe numbers at 0200 GMT onThursday.

The rising mainland marketlifted Hong Kong's HangSeng index 1.1 per cent, with

cyclical shares such as ship-pers and metal producers,whose profits are closelylinked with rising economicactivity, outperforming thebroader market.

"The market was repairingitself after a heavy loss earlierthis week, with the leaked CPIfigure maintaining the momen-tum in the afternoon," said GuoYanling, a senior trader atShanghai Securities. "But theindex may have little potentialto rise sharply amid an infla-tionary environment."

Inflation is seen as a key riskfor Chinese as well as mostAsian markets this year withthe recent escalation in globalfood and crop prices puttingpolicymakers on the back footand increasing the risk of risinginterest rates.

Still, investors encouraged bybroadly positive US earningsand economic data have contin-

ued to put money into NorthAsian markets which were sig-nificantly outpaced in 2010 bytheir smaller southern peerssuch as Indonesia and Thailand.

A drop in the dollar to a two-month low lifted crude oilprices to near $92 per barrel.

China Mobile Ltd , a majorlaggard among the large caps inHong Kong, rose 2.6 per centand provided the biggest boostto the Hang Seng Index on theday.

The benchmark ShanghaiComposite Index finished at2,758.1 points and appeared tohave found firm support at thecrucial 2,700-point level afterdigesting the news of the latestofficial hike in bank reserverequirement ratios.

The index was up 1.1 per centby midday as traders reportedcash flowing into the stockmarket from the weak bondmarket.-Reuters

China, HK stocks upon inflation-fall talk

Nawaz Ali

KARACHI: Selling overuncertain upcoming monetarypolicy and non-stop profit-tak-ing bled Karachi StockExchange big time onWednesday.

Offloading in oil, bankingand fertiliser stocks did the realdamage.

The benchmark KSE 100-Index fell by 80 points to closeat 12,577 points, KSE 30-Indexlost 92 points to close at 12,325points and KSE All-Shareindex was down by 52 points toclose at 8,721 points.

"Selling pressure from localinvestors kept index depressedthroughout the session", saidSamar Iqbal, equity dealer atTopline Securities.

Volumes also remained lowwith mid-cap stocks leading therally. On the contrary POLincreased by more than 1% onthe back of the news regardingincreased production in Tal

Block where POL is the majorbeneficiary, he added.

About 188 million shareswere traded in the overall mar-ket which is 82.8 million sharesless as compared to a turnoverof 270.8 million a day earlier.

Foreigners' participation toowas limited as according toNCCPL there was a net-foreign buying of $0.71 millionon Wednesday.

Trade began on a positivenote and index stayed in thegreen zone in the first hour oftrade where it touched an intra-day high at 12,733 points (+ve75 points). However, there-after, continued profit-takingby the local investors ejectedearly gains and index went intobearish territory. It thenremained mainly in the nega-tive zone till the end of the ses-sion due to selling in oil, bank-ing and fertiliser stocks andnear closing bells touched itslowest level of the day at

See # 10 Page 11

MPSdoubts

deal KSEa hefty blow

MUMBAI: The BSE Sensexshed 0.6 per cent onWednesday, led by a decline insoftware companies, while out-look remained shaky on interestrate hike concerns.

IT stocks led the decline, withthe sector index dropping 1.2per cent after rising 4.4 per centover the previous two sessions.

Leading outsourcers TataConsultancy Services, Infosysand Wipro declined between 0.6per cent and nearly 2 per cent.

Bajaj Auto, second-largesttwo-wheeler maker, closed upnearly 2 per cent, as it posted a40 per cent rise in its third-

quarter net profit. The 30-share BSE index

declined 113.73 points to18,978.32, with 21 of its com-ponents declining.

"I think market will stayvolatile for now," said NitinRakesh, CEO of MotilalOswal's asset managementbusiness.

"We have some near-termissues to address like inflationpressures, high commodityprices and so on."

Investors were also cautiousahead of a cabinet reshuffle inthe Indian government.

See # 7 Page 11

Indian shares fall;tech stocks down

TOKYO: The Nikkei averagerose for a third straight sessionon Wednesday, inching towardsrecent eight-month highs as amostly upbeat start to the USearnings season lifted expecta-tions for Japanese firms toshow further recovery.

Target price hikes for Googleand earth-moving equipmentmaker Caterpillar have bol-stered hopes that the world'sNo1 economy is on a sustain-able recovery path and sent USstocks higher, despite weakresults from Citigroup.

The Nikkei has climbed 3 percent this year and is up 15 percent since the start ofNovember after many foreigninvestors changed their stanceon laggard Japanese stocks toneutral from underweight.

Analysts said such a buyingpattern was behindWednesday's surge in textiles,which outperformed other sec-tors with a rise of 3.1 per centhelped by an across-the-boardhike in share price targets byGoldman Sachs on attractivevaluations.

Toray Industries Inc, Japan'slargest maker of syntheticfibres, jumped 4.7 per cent to556 yen and Teijin Ltd surged6.6 per cent to 421 yen, becom-ing the biggest per centagegainer among the Nikkei 225components.

"But advances in the wholeindex are limited as investorsconsolidate around new levelsand slowly brace for a smallcorrection, which may be trig-

gered once all positive factorslinked to robust earnings disap-pear after companies havereported later this month."

The benchmark Nikkei endedthe day up 0.4 per cent or 38.12points at 10,557.10.

Resistance now looms at10,620.57, an eight-month peakmarked last week, market play-ers said. If that level isbreached, the next targetinvestors are eyeing is10,638.23, a high hit in Maylast year.

The broader Topix index rose0.6 per cent to 936.87.

With individual investorsactively buying, trading vol-ume was firm, with 2.2 billionshares changing hands on theTokyo Stock Exchange's firstsection, slightly below lastweek's average of 2.3 billion.

Market participants said for-eign buying is set to continueon expectations Japanese com-panies will show furtherimprovements in their October-December earnings, but alsostressed that earnings are stillwell below levels from beforethe financial crisis.

Social network and gamingcompany Gree was up 3.4 percent at 1,174 yen afterannouncing on Tuesday itwould go into the smartphonead network business, connect-ing advertisers with websitesthat want to run advertise-ments.

Advancing issues outpaceddeclining ones by a ratio ofabout 2 to 1.-Reuters

Nikkei up onearnings hopes

Banks,miners

hit FTSELONDON: Banking and min-ing stocks weighed on Britain'stop share index on Wednesdayas concerns over the globaleconomic recovery resurfaced,while sentiment among retail-ers was dented after some dis-appointing updates.

The FTSE 100 closed down79.73 points, or 1.3 per centlower at 5,976.70, ebbing awayfrom Tuesday's fresh 31-monthhigh.

"The market moved a longway ahead of the last quarterand it deserves a bit of a pullback," Paul Kavanagh, a part-ner at Killik & Co, said.

Kavanagh said there was stillappetite to get involved in thismarket with short terminvestors enjoying the fluctua-tions, but longer term investorsare lingering on the sidelineswaiting to get involved lowerdown than 6,000.

Optimism over corporateearnings took a knock after USbanking giant Goldman Sachsposted a decline in quarterlyprofit, which followedCitigroup missing estimates onTuesday.

UK Banks fell on talk out ofGermany, which has beendenied, that Greece's debt mayhave to be restructured, traderssaid. Barclays fell 3.8 per cent.

London-listed miners such asLonmin , down 3.2 per cent,were lower along with metalsafter economic data from theUnited States and ahead of araft of key Chinese economicdata due to be released early on

See # 9 Page 11

US stocks late-morning

Goldmantakes tollon S&P,Nasdaq

NEW YORK: US stocks most-ly fell on Wednesday as disap-pointing results from GoldmanSachs and Wells Fargo deflatedhopes for strong bank earningsin the last quarter.

The Nasdaq declined morethan 1 per cent as more dis-appointment on the earningsfront came from Cree Inc. Itpushed an index of semi-conductors down 1.7 percent.

Goldman Sachs Group Inc'sstock fell 2.8 per cent to$169.83 after the Wall Streetfirm posted a 53 per cent dropin profit as trading revenuetumbled.

Shares of Wells Fargo & Colost 1.7 per cent to $31.93 afterthe company posted a fourth-quarter profit that missed someanalysts' estimates.

With financials, "I thinkexpectations were for somebetter results after a fairlyrobust fourth quarter and startto 2011," said Thomas Villalta,portfolio manager for JonesVillalta Asset Management inAustin, Texas.

See # 8 Page 11

Inflation worries make investors more selective

South East Asian stocks

European shares retreat fromhighs; miners slide

ANNOUNCEMENTS

Company Period Div/Bon/Right PAT (Rs in mn) EPS(Rs)

Mirza SugarSPOT 1st Qtr - -11.80 -0.84

Pangrio SugarSPOT 1st Qtr - -2.33 -0.21

Thursday, January 20, 20116

Volume 188,009,034

Value 8,811,406,815

Trades 90,084

Advanced 140

Declined 235

Unchanged 22

Total 397

Current 8,721.38

High 8,825.21

Low 8,711.10

Change i52.98

Current 12,577.61

High 12,734.38

Low 12,559.73

Change i80.55

Current 12,325.84

High 12,510.09

Low 12,303.41

Change i92.24

Market KSE 100 Index All Share Index KSE 30 Index

Current 20,628.96

High 20,871.03

Low 20,588.79

Change i125.33

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

KASB Bank Limited

KASBB closed down -0.27 at 2.03. Volume was 3,734 per cent above

average (trending) and Bollinger Bands were 11 per cent wider than

normal. The company's loss after taxation stood at Rs1.571 billion

which translates into a Loss Per Share of Rs2.20 for the nine months

of current calendar year (9MCY10).

KASBB is currently 31.7 per cent below its 200-day moving average

and is displaying a downward trend. Volatility is extremely high when

compared to the average volatility over the last 10 trading sessions.

Volume indicators reflect very strong flows of volume out of KASBB

(bearish). Trend forecasting oscillators are currently bearish on KASBB.

RSI (14-day) 32.54 Total Assets (Rs in mn) 59,223.06

MA (10-day) 2.42 Total Equity (Rs in mn) 4,958.87

MA (100-day) 2.46 Revenue (Rs in mn) 5,061.63

MA (200-day) 2.97 Interest Expense 5,490.40

1st Support 1.88 Loss after Taxation (4,227.75)

2nd Support 1.73 EPS 09 (Rs) (4.446)

1st Resistance 2.25 Book value / share (Rs) 5.22

2nd Resistance 2.47 PE 10 E (x) -

Pivot 2.10 PBV (x) 0.39


As on Jun 30, 2010

DCL closed up 0.05 at 2.19. Volume was 100 per cent above average

and Bollinger Bands were 46 per cent narrower than normal. The com-

pany's loss after taxation stood at Rs173.394 million which translates

into a Loss Per Share of Rs0.46 for the 1st quarter of current fiscal year

(1QFY11).

DCL is currently 10.7 per cent above 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 volume flowing into and out of DCL at a relatively

equal pace. Trend forecasting oscillators are currently bearish on DCL.




MA (200-day) 1.98 Interest Expense 11.15

1st Support 2.05 Loss after Taxation (622.76)

2nd Support 1.95 EPS 10 (Rs) (1.743)



Pivot 2.25 PBV (x) 0.22

Dewan Cement Limited


As on Jun 30, 2010

PIOC closed down -0.27 at 6.84. Volume was 138 per cent above average

and Bollinger Bands were 26 per cent narrower than normal. The company's

loss after taxation stood at Rs86.285 million which translates into a Loss Per

Share of Rs0.39 for the 1st quarter of current fiscal year (1QFY11).

PIOC is currently 11.2 per cent below its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared

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

tors reflect volume flowing into and out of PIOC at a relatively equal

pace. Trend forecasting oscillators are currently bullish on PIOC.




MA (200-day) 7.70 Interest Expense 392.66

1st Support 6.60 Loss after Taxation (590.93)

2nd Support 6.35 EPS 10 (Rs) (2.653)



Pivot 6.95 PBV (x) 0.69

Pioneer Cement Limited


As on Dec 31, 2009

PIAA closed up 0.04 at 2.51. Volume was 265 per cent above average(trending) and Bollinger Bands were 25 per cent wider than normal. Thecompany's loss after taxation stood at Rs11.693 billion which translatesinto a Loss Per Share of Rs4.79 for the nine months of current calendaryear (9MCY10).PIAA is currently 0.8 per cent above its 200-day moving average and isdisplaying an upward trend. Volatility is low as compared to the averagevolatility over the last 10 trading sessions. Volume indicators reflect mod-erate flows of volume into PIAA (mildly bullish). Trend forecasting oscil-lators are currently bullish on PIAA.


MA (10-day) 2.47 Total Equity (Rs in mn) (20,772.84)


MA (200-day) 2.49 Interest Expense 9,243.77

1st Support 2.46 Loss after Taxation (5,822.43)

2nd Support 2.35 EPS 09 (Rs) (2.72)

1st Resistance 2.66 Book value / share (Rs) (8.92)


Pivot 2.55 PBV (x) (0.28)

Pakistan International Airline Corp Ltd

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,635.39 1,651.49 1,613.06 1,625.89 -9.50 -0.58

Turnover Total cos Defaulter cos Listed cap Market cap 5-Day High

12,671,248 - - 65,194.15 mn 1,245,092.64 mn 1,639.46

P/E (x) P/BV (x) ROE (%) Payout (%) Div Yield (%) 5-Day Low

11.70 3.81 32.54 55.94 4.78 1,616.78

Attock Petroleum 691 6.54 377.47 382.25 373.25 377.75 0.28 456789 398.89 287.99 300 20B - -

Attock Refinery 853 8.01 145.50 146.74 141.10 142.82 -2.68 2218118 146.90 93.20 - - - -

BYCO Petroleum 3921 - 11.17 11.33 11.05 11.12 -0.05 974519 12.49 10.49 - - - -

Mari Gas Company 735 18.16 136.30 138.00 133.05 134.04 -2.26 96462 141.65 117.00 31 - - -

National Refinery 800 4.78 329.56 332.49 320.05 322.65 -6.91 103472 333.89 207.00 200 - - -

Oil & Gas Development 43009 11.73 174.54 175.75 172.00 173.30 -1.24 1293045 185.00 150.92 55 - 15.00 -

Pak Petroleum 11950 9.18 227.75 229.80 225.00 225.65 -2.10 3045810 229.80 184.00 90 20B - -

Pak Oilfields 2365 7.97 334.20 340.99 331.78 337.74 3.54 3669316 341.50 231.01 255 - - -

Pak Refinery Limited 350 - 105.59 110.86 106.00 110.86 5.27 511476 114.50 74.51 - - - -

P.S.O 1715 5.17 309.53 311.70 305.00 305.43 -4.10 1129510 317.79 262.00 80 - - -

Shell Gas LPG 226 - 32.97 33.00 32.80 33.00 0.03 7300 40.28 32.00 - - - -

Shell Pakistan 685 11.15 217.68 219.95 213.50 217.33 -0.35 139950 222.00 182.05 40 - - -

Paid up Last 60 days 2010 2011

Company Cap(mn) PE Open High Low Close Chg Volume High Low Div BR Div BR

(%) (%) (%) (%)

PERSONAL GOODS

Performance of SR Personal Goods Index


1,017.39 1,024.36 1,006.63 1,012.69 -4.70 -0.46


18,924,267 - - 47,070.70 mn 141,313.92 mn 1,017.93


7.52 0.65 8.64 16.68 2.22 1,010.49

Al-Azhar Textile 86 - 2.43 1.50 1.50 1.50 -0.93 1000 3.48 0.50 - - - -

Amtex Limited 2594 9.30 4.22 4.27 4.07 4.09 -0.13 406602 8.50 4.00 30 - - -

Artistic Denim 840 6.47 23.17 24.00 22.85 23.30 0.13 22963 24.59 19.10 20 - - -

Azgard Nine 4493 - 11.38 11.63 11.13 11.17 -0.21 3836815 12.32 9.20 - - - -

Bannu Woolen XD 76 0.49 14.25 14.00 13.80 13.97 -0.28 3570 14.84 10.82 20 - - -

Bata (Pak) 76 5.45 663.46 659.00 645.00 657.97 -5.49 576 747.48 460.00 - - - -

Blessed Tex Mills 64 0.89 60.24 63.20 58.62 59.10 -1.14 720 63.20 45.25 50 - - -

Chenab Limited 1150 - 3.07 3.11 3.05 3.06 -0.01 18196 3.90 2.94 - - - -

Colgate Palm 316 37.21 1008.18 1020.00 980.00 991.40-16.78 2051 1020.00 740.00 - - - -

Colony Mills Ltd 2442 3.92 2.50 2.97 2.38 2.51 0.01 10382 3.33 2.16 - - - -

Crescent Jute 238 - 1.01 1.24 0.85 1.13 0.12 21396 1.38 0.16 - - - -

Crescent Textile 492 3.67 19.25 19.10 19.10 19.10 -0.15 2757 23.99 17.89 15 - - -

D S Ind Ltd 600 - 1.88 1.90 1.80 1.88 0.00 137504 2.37 1.52 - - - -

Data Textile 99 - 0.37 0.40 0.39 0.39 0.02 607 0.90 0.11 - - - -

Dewan Farooque Spin. 600 2.58 3.30 3.20 3.20 3.20 -0.10 388 8.00 3.01 - - - -

Gadoon Textile XD 234 0.78 68.03 71.43 68.20 71.43 3.40 34904 71.43 38.30 70 - - -

Ghani Value Glass 75 7.37 26.78 28.00 27.00 28.00 1.22 5100 41.20 25.50 25 - - -

Gillette Pakistan 192 - 59.30 60.00 60.00 60.00 0.70 200 71.50 59.00 - - - -

Gul Ahmed Textile 635 4.17 29.58 29.01 28.13 29.01 -0.57 134 33.19 22.62 12.5 - - -

Gulistan Spinning 146 1.34 6.85 7.00 6.49 7.00 0.15 965 8.86 5.01 10 - - -

Gulshan Spinning 222 0.87 7.15 7.20 7.15 7.20 0.05 2301 10.30 6.30 10 20B - -

Hajra Textile 138 - 0.69 0.51 0.50 0.50 -0.19 552 1.10 0.30 - - - -

Hira Textile Mills Ltd. 716 0.75 3.99 4.00 3.96 4.00 0.01 13000 4.88 3.31 10 - - -

Ibrahim Fibres 3105 3.91 49.70 50.00 47.52 49.73 0.03 13830 50.00 34.98 20 - - -

Ideal Spinning 99 0.68 7.51 8.50 7.20 8.00 0.49 22362 8.74 2.85 - - - -

Idrees Textile 180 3.87 3.70 3.77 3.56 3.56 -0.14 2002 4.45 2.60 10 - - -

Island Textile 5 0.13 143.00 150.00 137.00 137.27 -5.73 125 192.00 85.19 50 - - -

Janana D Mal 43 0.23 14.93 14.20 14.11 14.20 -0.73 188 19.40 13.25 - - - -

Kohinoor Ind 303 - 1.69 1.60 1.50 1.56 -0.13 538 2.00 1.10 - - - -

Kohinoor Mills 509 - 2.16 3.15 2.11 2.25 0.09 504 3.72 1.52 - - - -

Kohinoor Textile 1455 3.80 5.28 5.38 5.01 5.32 0.04 7056 5.97 4.82 - - - -

Masood Textile 600 2.00 18.81 19.50 19.00 19.00 0.19 2500 21.40 18.01 15 100R - -

Mehmood Textile 150 0.82 67.00 70.00 64.07 66.80 -0.20 307 70.00 51.46 60 - - -

Mohd Farooq 189 - 1.20 1.35 1.20 1.20 0.00 14402 2.08 0.50 - - - -

Moonlite (PAK) 22 - 10.20 11.20 11.00 11.20 1.00 239 13.01 4.50 - - - -

Nishat (Chunian) 1596 1.97 23.88 24.34 23.20 23.74 -0.14 1641657 25.14 19.11 15 - - -

Nishat Mills 3516 6.11 68.99 71.89 68.75 71.23 2.24 12451065 71.89 50.25 25 45R - -

Pak Synthetic 560 3.10 9.06 9.45 9.18 9.18 0.12 20287 10.50 5.61 - - - -

Premium Textile 62 0.44 29.33 29.10 27.87 27.87 -1.46 101 31.03 25.00 50 - - -

Ravi Textile 250 - 1.43 1.50 1.43 1.48 0.05 3605 1.98 1.26 - - - -

Reliance Weaving 308 0.64 8.98 9.90 8.86 9.20 0.22 10658 11.50 8.01 25SD - - -

Rupali Poly 341 4.74 37.25 38.38 37.01 37.70 0.45 504 39.89 31.25 40 - - -

Saif Textile 264 0.41 5.10 5.25 4.90 5.09 -0.01 29408 6.85 3.55 - - - -

Sally Textile 88 0.21 4.15 4.15 4.15 4.15 0.00 1000 5.75 3.57 10 - - -

Sana Ind 55 3.47 46.43 47.50 45.50 45.69 -0.74 540 48.97 29.50 60 - - -

Service Ind 120 8.15 244.89 245.00 237.50 238.00 -6.89 3119 276.50 169.00 - - - -

Shadman Cot 176 2.19 12.24 12.00 12.00 12.00 -0.24 3000 13.00 7.00 - - - -

Thal Limited 307 5.26 126.05 128.00 122.75 123.17 -2.88 121564 132.00 86.50 80 20B - -

Treet Corp 418 9.40 59.72 60.40 58.90 59.06 -0.66 34852 63.30 41.50 - - - -

Tri-Star Poly 215 - 0.54 0.92 0.65 0.86 0.32 124 1.50 0.42 - - - -

Zephyr Textile Ltd 594 5.50 3.85 4.50 4.00 4.18 0.33 4502 4.90 3.00 - - - -

Zil Limited 53 3.74 55.52 56.49 55.00 55.92 0.40 646 59.25 42.30 35 - - -



(%) (%) (%) (%)

HOUSEHOLD GOODS

Performance of SR Household Goods Index


1,159.84 1,173.47 1,126.46 1,130.33 -29.51 -2.54


168,393 - - 3,763.71 mn 5,259.68 mn 1,159.84


3.20 0.34 10.64 6.27 1.96 1,130.33

Pak Elektron 1219 3.83 15.73 15.80 15.20 15.20 -0.53 128933 15.88 12.90 - 10B - -

Tariq Glass Ind 231 2.53 21.23 21.60 20.81 21.17 -0.06 39316 22.50 15.90 17.5 - - -



(%) (%) (%) (%)

FOOD PRODUCERS

Performance of SR Food Producers Index


1,761.35 1,823.96 1,730.83 1,775.14 13.78 0.78


193,151 - - 11,335.33 mn 248,607.42 mn 1,775.14


41.83 12.68 30.30 30.57 0.73 1,701.61

Adam SugarSPOT 58 1.16 18.91 18.80 18.43 18.60 -0.31 10721 20.50 12.50 25 - - -

AL-Abbas SugarSPOT 174 8.63 97.00 101.85 97.00 101.85 4.85 179 101.85 89.78 50 - - -

AL-Noor SugarSPOT 186 3.85 51.99 54.00 50.00 52.75 0.76 1634 54.00 41.30 50 - - -

Bawany Sugar 87 - 5.69 5.68 5.50 5.50 -0.19 3500 6.73 1.21 - - - -

Chashma SugarSPOT 287 1.05 10.60 11.30 10.15 10.38 -0.22 702 15.47 8.50 10 - - -

Crescent Sugar 214 - 7.05 7.00 7.00 7.00 -0.05 32000 7.15 5.00 - - - -

Dewan Sugar 365 - 3.91 3.98 3.70 3.81 -0.10 21908 5.59 1.50 - - - -

Faran SugarSPOT 217 3.91 20.29 20.50 19.40 19.47 -0.82 192 21.73 19.00 25 - - -

Habib SugarXDXB 750 5.08 22.76 22.90 22.56 22.60 -0.16 31290 36.50 22.00 25 25B - -

Habib-ADM Ltd 200 11.48 12.39 12.40 12.40 12.40 0.01 125 13.00 11.69 40 - - -

J D W SugarSPOT 490 2.94 87.11 87.49 82.76 83.03 -4.08 19551 92.50 71.00 7010B 12.5R - -

Mehran SugarXDXB 157 3.34 56.50 57.89 56.50 56.55 0.05 2601 68.49 52.60 35 20B - -

Mirpurkhas Sugar 84 4.27 51.38 51.32 50.25 51.25 -0.13 1190 68.22 48.11 15 20B - -

Mirza SugarSPOT 141 - 6.19 6.20 5.85 5.94 -0.25 32011 7.18 4.55 10 - - -

Mithchells FruitSPOT 50 8.83 81.93 83.75 81.20 81.44 -0.49 303 89.90 61.50 40 - - -

National Foods 414 21.72 59.05 58.25 58.10 58.22 -0.83 577 75.50 40.00 12 - - -

Nestle Pakistan 453 31.04 2806.71 2945.00 2752.00 2825.67 18.96 205 2945.00 1830.00 450 - - -

Noon Sugar 165 - 10.01 11.01 10.26 10.53 0.52 22203 14.84 9.00 - - - -

Pangrio SugarSPOT 109 - 6.17 6.15 6.01 6.15 -0.02 3743 6.99 4.25 10 - - -

Sanghar Sugar XD 119 1.14 12.80 12.80 12.45 12.80 0.00 2900 15.01 12.33 15 - - -

Shakarganj Mills 695 - 5.90 5.90 5.50 5.89 -0.01 2912 7.88 4.06 - - - -

Tandlianwala 1177 386.45 40.50 42.52 38.51 42.51 2.01 1370 42.52 29.00 - - - -

UniLever Pakistan 665 21.37 4504.29 4698.00 4425.25 4577.17 72.88 120 4698.00 3876.00 178 - - -



(%) (%) (%) (%)

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index


1,324.48 1,360.86 1,306.27 1,329.72 5.24 0.40


398,110 - - 6,768.53 mn 48,435.13 mn 1,332.88


4.81 1.22 25.35 20.42 4.24 1,288.16

Agriautos Ind 144 6.03 79.03 82.40 78.00 79.63 0.60 1004 82.63 65.75 90 - - -Atlas Battery 101 5.92 200.35 202.00 198.00 198.04 -2.31 8616 204.40 151.50 100 20B - -Atlas Engineering Ltd 247 24.12 25.73 27.01 27.01 27.01 1.28 4340 27.01 15.00 - - - -Atlas Honda 626 9.57 134.00 139.45 132.00 132.00 -2.00 2401 143.80 96.00 - - - -Dewan Motors 890 - 2.30 2.37 2.26 2.30 0.00 157262 2.89 1.20 - - - -Exide (PAK) 56 4.75 203.00 204.49 196.05 200.92 -2.08 210 217.44 145.00 60 - - -General Tyre 598 20.73 24.50 25.47 23.70 24.05 -0.45 13697 26.74 21.00 20 - - -Ghandhara Nissan 450 3.40 4.91 5.25 4.75 4.90 -0.01 22689 5.67 4.12 - - - -Ghani Automobile Ind 200 7.20 4.45 4.98 4.50 4.61 0.16 2505 5.75 4.01 - - - -Honda Atlas Cars 1428 - 12.31 12.55 12.20 12.23 -0.08 28102 13.40 10.80 - - - -Indus Motors 786 6.89 298.20 307.00 294.25 301.90 3.70 39290 309.73 227.00 150 - - -Pak Suzuki 823 11.26 71.21 72.00 70.25 70.74 -0.47 117919 77.90 66.75 - - - -



(%) (%) (%) (%)

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index


1,614.85 1,630.32 1,557.15 1,580.72 -34.13 -2.11


174,897 - - 1,336.62 mn 34,231.86 mn 1,628.07


8.56 3.25 38.02 131.49 15.37 1,580.72

Ados Pak 66 1.05 16.45 17.40 16.25 16.25 -0.20 3005 18.20 14.12 - - - -

AL-Ghazi Tractor 215 5.63 239.82 243.00 235.00 235.10 -4.72 11749 244.95 200.00 150 - - -

Dewan Auto Engineering 214 - 1.23 1.33 1.16 1.21 -0.02 17453 2.40 0.21 - - - -

Ghandhara Ind 213 12.04 13.00 13.00 12.80 13.00 0.00 19511 14.80 10.55 - - - -

Hinopak Motor 124 - 127.45 133.00 127.00 132.64 5.19 1156 147.89 114.01 - - - -

KSB Pumps 132 7.35 61.50 62.75 61.01 61.38 -0.12 1086 78.90 58.55 - - - -

Millat Tractors XB 366 7.11 555.81 562.00 535.01 543.69 -12.12 116718 568.40 443.00 650 25B - -

Pak Engineering 57 411.11 155.47 149.01 147.70 148.00 -7.47 4218 310.00 147.70 100 - - -



(%) (%) (%) (%)

GENERAL INDUSTRIALS

Performance of SR General Industrials Index


1,068.68 1,078.47 1,051.96 1,068.60 -0.08 -0.01


304,871 - - 3,043.31 mn 39,862.52 mn 1,076.90


2.96 1.30 43.91 15.55 5.26 1,049.44

Cherat Papersack 115 2.71 77.02 78.50 75.95 76.10 -0.92 18047 83.23 37.75 20 25B - -

ECOPACK Ltd 230 - 2.63 2.76 2.55 2.60 -0.03 70155 3.30 1.82 - - - -

Ghani Glass 1067 4.83 54.15 54.40 52.50 52.52 -1.63 23516 56.45 45.30 25 10B - -

MACPAC Films 389 - 3.01 3.46 2.79 3.00 -0.01 16102 4.05 2.11 - - - -

Merit Pack 47 65.38 26.75 27.90 26.00 26.15 -0.60 4536 27.90 16.05 - - - -

Packages Ltd 844 68.60 131.15 134.00 130.31 133.77 2.62 84518 136.74 101.00 - - - -

Tri-Pack Films 300 10.22 133.50 140.17 133.50 140.12 6.62 87914 140.17 100.00 - - - -



(%) (%) (%) (%)

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index


1,010.08 1,023.66 989.58 1,000.47 -9.60 -0.95


13,893,102 - - 54,792.74 mn 70,931.61 mn 1,026.43


7.33 0.52 7.10 19.04 2.60 1,000.47

Al-Abbas Cement 1828 - 3.22 3.35 3.11 3.24 0.02 21812 3.98 2.80 - 100R - -

Attock Cement 866 6.44 61.71 61.55 61.10 61.19 -0.52 18873 65.99 57.60 50 - - -

Berger Paints 182 - 21.40 21.44 21.00 21.01 -0.39 4811 24.16 14.55 - 122R - -

Bestway Cement 3257 - 14.53 15.53 14.02 15.53 1.00 1309 24.80 14.02 - - - -

Cherat Cement 956 25.00 11.10 11.20 10.60 11.00 -0.10 6500 12.75 10.00 - - - -

Dadabhoy Cement 982 13.92 1.86 1.85 1.80 1.81 -0.05 19648 2.49 1.31 - - - -

Dadex Eternit 108 - 22.00 22.00 22.00 22.00 0.00 3000 28.50 18.51 - - - -

Dewan Cement 3891 - 2.14 2.45 2.15 2.19 0.05 1140861 3.10 1.40 - - - -

DG Khan Cement Ltd 3651 125.83 30.60 31.01 30.12 30.20 -0.40 7315919 32.30 26.35 - 20R - -

Fauji Cement 6933 15.36 5.17 5.19 5.01 5.07 -0.10 168035 5.55 4.72 - - - -

Flying Cement Ltd 1760 - 1.82 1.89 1.80 1.85 0.03 57141 2.25 1.60 - - - -

Frontier Ceramics 77 - 1.73 1.80 1.51 1.59 -0.14 20011 5.00 1.18 - - - -

Gharibwal Cement 2319 - 7.69 7.75 6.70 6.73 -0.96 7003 9.19 2.70 - - - -

Haydery Const 32 - 0.68 0.70 0.57 0.69 0.01 516 1.08 0.42 - - - -

Kohat Cement 1288 - 6.52 6.59 6.20 6.26 -0.26 35663 8.70 5.80 - - - -

Lafarge Pakistan Cmt. 13126 - 3.61 3.74 3.40 3.60 -0.01 3456413 3.88 2.79 - - - -

Lucky Cement 3234 6.76 76.13 76.74 75.01 75.27 -0.86 832046 79.98 70.25 40 - - -

Maple Leaf Cement 5261 1.28 2.75 2.79 2.72 2.75 0.00 184951 3.30 2.66 - - - -

Pioneer Cement 2228 - 7.11 7.30 6.70 6.84 -0.27 598424 8.50 6.52 - - - -

Safe Mix Concrete 200 - 6.98 6.99 6.55 6.99 0.01 2111 7.95 5.25 - - - -

Shabbir Tiles 361 - 8.25 8.55 8.15 8.55 0.30 102 9.60 6.30 - - - -



(%) (%) (%) (%)

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index


1,102.85 1,117.09 1,086.27 1,095.09 -7.76 -0.70


85,875 - - 3,596.11 mn 10,616.83 mn 1,118.41


3.66 1.21 33.10 30.91 8.45 1,085.71

Crescent Steel 565 4.47 29.00 29.25 28.60 28.61 -0.39 25449 30.60 24.00 30 - - -

Dost Steels Ltd 675 - 2.63 2.66 2.51 2.61 -0.02 22807 3.39 2.22 - - - -

Huffaz Pipe 555 9.55 15.60 15.56 15.25 15.28 -0.32 11000 16.51 12.85 - - - -

International Ind 1199 11.95 58.01 58.20 57.20 57.38 -0.63 17162 62.20 44.00 40 20B - -

Metro Steel 310 - 8.50 9.50 9.50 9.50 1.00 800 9.50 5.61 - - - -

Siddiqsons Tin 785 11.35 9.73 10.50 9.42 9.99 0.26 8657 10.70 8.00 7.5 - - -



(%) (%) (%) (%)

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index


1,203.18 1,210.55 1,181.70 1,190.33 -12.86 -1.07


43,113 - - 1,186.83 mn 3,298.72 mn 1,233.80


6.11 0.46 7.47 25.28 4.14 1,190.33

Century Paper 707 - 18.13 18.44 17.75 17.79 -0.34 26007 19.69 15.28 - - - -

Pak Paper Product 50 8.56 44.31 44.50 44.50 44.50 0.19 200 48.90 39.00 2533.33B - -

Security Paper 411 6.79 44.31 44.25 43.50 44.01 -0.30 16906 47.70 38.00 50 - - -



(%) (%) (%) (%)

CHEMICALS

Performance of SR Chemicals Index


1,617.42 1,639.62 1,580.00 1,590.44 -26.98 -1.67


70,065,974 - - 52,251.88 mn 355,238.46 mn 1,617.42


9.87 3.45 35.00 48.81 4.95 1,511.18

Agritech Limited 3924 8.41 23.19 23.95 22.31 23.20 0.01 96342 24.85 20.26 - - - -

Bawany Air 68 65.00 7.81 8.00 7.35 7.80 -0.01 8958 10.75 7.16 5 10R - -

BOC (Pak) 250 14.01 101.50 102.50 101.00 102.00 0.50 8070 103.94 75.00 15 - - -

Clariant Pak 273 7.15 186.98 189.00 185.00 187.14 0.16 13267 209.98 149.72 - - - -

Dawood Hercules 1203 8.63 210.08 211.98 208.00 208.04 -2.04 23999 215.00 165.73 40 - - -

Descon Chemical 1996 - 3.07 3.14 3.00 3.01 -0.06 158005 3.74 2.11 - - - -

Descon Oxychem Ltd. 1020 - 8.37 8.65 8.26 8.39 0.02 75542 9.25 3.92 - - - -

Dewan Salman 3663 - 3.16 3.25 3.10 3.12 -0.04 647539 4.24 1.47 - - - -

Engro Corporation Ltd 3277 11.63 214.57 216.90 211.05 211.62 -2.95 2750710 222.80 174.65 40 - - -

Engro Polymer 6635 - 14.76 14.90 14.30 14.41 -0.35 688187 15.87 12.90 - - - -

Fatima Fertilizer 22000 - 12.40 12.50 12.15 12.23 -0.17 1120787 12.64 9.16 - - - -

Fauji Fertilizer 6785 10.88 153.98 155.84 149.10 150.11 -3.87 3395755 156.11 106.01 95 - - -

Fauji Fert.Bin Qasim 9341 7.95 43.13 43.79 42.03 42.14 -0.99 15757663 43.99 30.18 17.5 - - -

Ghani Gases Ltd 725 9.10 12.24 12.23 11.90 12.01 -0.23 58878 13.07 11.00 - - - -

ICI Pakistan 1388 8.73 155.58 156.85 153.56 154.98 -0.60 344081 158.49 122.75 55 - - -

Ittehad Chemical 360 10.41 29.37 28.00 27.91 27.91 -1.46 741 36.00 23.50 5 - - -

Lotte Pakistan 15142 5.78 15.64 16.49 15.70 16.19 0.55 45771524 16.49 9.49 - - - -

Mandviwala 74 - 1.42 1.50 1.20 1.50 0.08 14512 2.50 0.80 - - - -

Nimir Ind Chemical 1106 - 1.91 1.97 1.62 1.89 -0.02 330864 2.74 1.36 - - - -

Sitara Chem Ind 214 9.80 119.18 120.00 118.01 119.60 0.42 125 139.40 101.00 25 5B - -

Sitara Peroxide 551 14.67 13.70 13.99 13.45 13.50 -0.20 64346 14.69 10.00 - - - -

United Distributors 92 - 10.79 11.79 9.81 11.77 0.98 3784 11.79 8.51 - - - -

Wah-Noble 90 7.40 39.00 39.90 38.10 38.50 -0.50 10717 42.96 32.00 50 - - -



(%) (%) (%) (%)

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index


982.39 990.14 962.80 976.79 -5.61 -0.57


475,334 - - 3,904.20 mn 32,644.59 mn 989.66


7.56 1.69 22.31 44.54 5.89 976.79

Abbott (Lab) 979 9.30 106.50 107.00 106.00 106.17 -0.33 4304 112.50 89.88 20 - - -

Ferozsons (Lab) 250 6.90 91.86 94.90 89.15 91.40 -0.46 11838 94.90 82.20 - 20B - -

GlaxoSmithKline 1707 14.81 83.88 83.25 82.00 82.32 -1.56 8783 89.98 69.00 - - - -

Highnoon (Lab) 165 7.89 28.73 29.00 28.30 28.49 -0.24 2154 30.48 23.50 - - - -

IBL HealthCare Ltd 200 7.40 9.21 9.24 8.61 9.18 -0.03 21236 9.36 7.16 - - - -

Sanofi-Aventis 96 12.39 150.15 157.00 150.00 155.75 5.60 1945 157.00 116.00 - - - -

Searle Pak 306 5.91 63.91 66.50 62.00 65.71 1.80 425056 69.00 59.00 30 - - -



(%) (%) (%) (%)

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index


717.01 747.56 713.98 746.17 29.17 4.07


303,580 - - 3,242.17 mn 13,100.70 mn 746.17


5.62 1.43 25.53 11.08 1.97 717.01

Pak Int Cont. Terminal 1092 7.21 68.69 72.12 68.60 72.12 3.43 292312 77.77 65.50 40 - - -

PNSC 1321 40.95 37.25 38.00 36.70 37.67 0.42 11268 40.42 32.36 15 - - -



(%) (%) (%) (%)

BOOK CLOSURES

Shahtaj Sugar Mills 20-Jan 01-Feb - - 27-JanDandot Cement 20-Jan 29-Jan - - 29-JanChashma Sugar Mills 21-Jan 30-Jan 10 13-01-2010 31-JanThe Premier Sugar Mills 21-Jan 30-Jan 10 13-01-2010 31-JanNational Savings Banks 21-Jan 29-Jan - - -Pangrio Sugar Mills 22-Jan 31-Jan 10 14-Jan 31-JanFecto Sugar Mills 22-Jan 29-Jan - - 29-JanThal Ind. Corp 22-Jan 28-Jan 15 14-Jan 28-JanBaba Farid Sugar Mills 22-Jan 29-Jan - - 29-JanAl-Noor Sugar Mills 22-Jan 02-Feb 50 14-Jan 28-JanShahmurad Sugar Mills 22-Jan 02-Feb 10 14-Jan 28-JanQuetta Tex Mills # 22-Jan 29-Jan - - 29-Jan KASB Securities # 22-Jan 28-Jan - - 28-Jan D.M. Textile Mills # - - - - 31-Jan Adam Sugar Mills 23-Jan 31-Jan 25 14-Jan 29-JanFaran Sugar Mills 23-Jan 30-Jan 25 14-Jan 27-JanSakrand Sugar Mills 24-Jan 31-Jan - - 31-JanBawany Sugar Mills 24-Jan 31-Jan - - 31-JanDewan Cement # 24-Jan 31-Jan - - 31-Jan

INDICATIONS

# Extraordinary General Meeting

Company From To D/B/R Spot AGM/Date

OTHER SECTORS

Pakistan Cables 54.21 55.24 54 54.5 0.29 853

TRG Pakistan Ltd. 3.55 3.67 3.47 3.53 -0.02 3156251

Murree Brewery Co. 90 90 86.01 90 0 621

Shakarganj Food 1.32 1.65 1 1.3 -0.02 11000

Shezan International 148.46 148 141.25 141.79 -6.67 18965

Grays of Cambridge 48 48 46.25 47 -1 337

Pak Tobacco 121 125 118 118.04 -2.96 802

Shifa Int.Hospitals 31.21 32.77 29.9 31.01 -0.2 15496

Eye Television 21.03 21.25 20.16 20.51 -0.52 11904

P.I.A.C.(A) 2.47 2.64 2.44 2.51 0.04 589881

AKD Capital Limited 48.78 49.47 47.57 47.68 -1.1 1622

Pace (Pak) Ltd. 2.98 3.35 2.95 3.32 0.34 5806483

Netsol Technologies 25.39 25.4 24.13 24.21 -1.18 778659

Pak Telephone 2.45 2.35 2 2 -0.45 101

Symbols Open High Low Close Change Vol

Thursday, January 20, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -80.55 points at 12,577.61. Volume was 80

per cent above average and Bollinger Bands were 52 per cent wider than

normal. As far as resistance level is concern, the market will see major 1st

resistance level at 12,688.10 and 2nd resistance level at 12,798.55, while

Index will continue to find its 1st support level at 12,513.45 and 2nd sup-

port level at 12,449.25.

KSE 100 INDEX is currently 20.2 per cent above its 200-day moving aver-

age and is displaying an upward trend. Volatility is high as compared to the

average volatility over the last 10 trading sessions. Volume indicators

reflect moderate flows of volume into INDEX (mildly bullish). Trend fore-

casting oscillators are currently bullish on INDEX. Momentum oscillator is

currently indicating that INDEX is currently in an overbought condition.

RSI (14-day) 72.46 Support 1 12,513.45

MA (5-day) 12,582.14 Support 2 12,449.25

MA (10-day) 12,447.84 Resistance 1 12,688.10

MA (100-day) 10,876.93 Resistance 2 12,798.55

MA (200-day) 10,465.83 Pivot 12,623.90


Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -0.99 at 42.14. Volume was 258 per cent above aver-

age (trending) and Bollinger Bands were 137 per cent wider than normal.

FFBL is currently 38.1 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 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 37 Sell

AKD Securities Ltd 32.06 Accumulate

TFD Research 29.1 Negative

RSI (14-day) 73.21 Free Float Shares (mn) 326.94

MA (10-day) 39.76 Free Float Rs (mn) 13,777.19

MA (100-day) 32.23 ** NOI Rs (mn) 146.30

MA (200-day) 30.53 Mean 42.77

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


Pakistan Telecommunication Co Ltd


Technical Outlook

PTC closed up 0.02 at 20.03. Volume was 552 per cent above average

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

PTC is currently 3.1 per cent above its 200-day moving average and is dis-

playing an upward trend. Volatility is extremely high when compared to the

average volatility over the last 10 trading sessions. Volume indicators

reflect moderate flows of volume into PTC (mildly bullish). Trend forecast-

ing oscillators are currently bullish on PTC.

*Arif Habib Ltd 24.7 Buy

AKD Securities Ltd 24.04 Buy

TFD Research 30.5 Positive



MA (100-day) 19.07 ** NOI Rs (mn) 13.78

MA (200-day) 19.43 Mean 20.14



Nishat Mills Ltd


Technical Outlook

NML closed up 2.24 at 71.23. Volume was 171 per cent above average

(trending) and Bollinger Bands were 60 per cent wider than normal.

NML is currently 36.9 per cent above its 200-day moving average and is

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

the average volatility over the last 10 trading sessions. Volume indicators

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

oscillators are currently bullish on NML. Momentum oscillator is currently

indicating that NML is currently in an overbought condition.


TFD Research 74.2 Neutral



MA (100-day) 54.49 ** NOI Rs (mn) 174.80

MA (200-day) 52.04 Mean 70.22



Dera Ghazi Khan Cement Co Ltd


Technical Outlook

DGKC closed down -0.40 at 30.20. Volume was 39 per cent above aver-

age and Bollinger Bands were 40 per cent narrower than normal.

DGKC is currently 12.2 per cent above its 200-day moving average and is

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


reflect moderate flows of volume into DGKC (mildly bullish). Trend fore-

casting oscillators are currently bullish on DGKC.

*Arif Habib Ltd 37 Buy


TFD Research 36.85 Positive



MA (100-day) 27.64 ** NOI Rs (mn) 57.57

MA (200-day) 26.90 Mean 30.48



Pakistan Oilfields Ltd


Technical Outlook

POL closed up 3.54 at 337.74. Volume was 91 per cent above average

and Bollinger Bands were 130 per cent wider than normal.

POL is currently 38.0 per cent above its 200-day moving average and is

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


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

oscillators are currently bullish on POL. Momentum oscillator is currently

indicating that POL is currently in an overbought condition.

*Arif Habib Ltd 336.1 Hold





MA (100-day) 260.71 ** NOI Rs (mn) 357.32

MA (200-day) 244.82 Mean 336.18



Fauji Fertiliser Co


Technical Outlook

FFC closed down -3.87 at 150.11. Volume was 178 per cent above aver-

age (trending) and Bollinger Bands were 334 per cent wider than normal.

FFC is currently 34.7 per cent above its 200-day moving average and is

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


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

oscillators are currently bullish on FFC. Momentum oscillator is currently

indicating that FFC is currently in an overbought condition.


AKD Securities Ltd 122.1 Accumulate




MA (100-day) 113.45 ** NOI Rs (mn) 514.33

MA (200-day) 111.38 Mean 152.26



Pakistan Petroleum Ltd


Technical Outlook

PPL closed down -2.10 at 225.65. Volume was 173 per cent above average

(trending) and Bollinger Bands were 29 per cent narrower than normal.

PPL is currently 14.6 per cent above its 200-day moving average and is

displaying an upward trend. Volatility is extremely low when compared to


reflect volume flowing into and out of PPL at a relatively equal pace. Trend

forecasting oscillators are currently bullish on PPL.


TFD Research 239.15 Neutral



MA (100-day) 199.51 ** NOI Rs (mn) 120.74

MA (200-day) 196.98 Mean 227.05


EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index


1,418.25 1,434.91 1,396.54 1,415.29 -2.96 -0.21


1,280,069 - - 29,771.58 mn 19,051.64 mn 1,418.25


21.33 0.47 2.21 104.74 7.63 1,359.42

1st Fid Leasing 264 10.00 1.64 1.80 1.50 1.60 -0.04 1035 2.00 1.18 - - - -

AL-Meezan Mutual F. 1375 7.30 8.90 8.81 8.63 8.76 -0.14 5863 9.15 6.05 18.5 - - -

AL-Noor Modaraba 210 5.25 3.14 3.15 3.05 3.15 0.01 1800 3.80 2.10 5 - - -

B R R Guardian Mod. 780 3.98 1.61 1.75 1.62 1.75 0.14 1192 2.79 0.90 0 - - -

Constellation Modaraba 65 3.48 1.57 1.99 1.25 1.53 -0.04 603 1.99 0.93 - - - -

Crescent St Modaraba 200 1.65 0.65 0.69 0.53 0.66 0.01 17291 1.10 0.16 1.2 - - -

Elite Cap Modaraba 113 3.26 2.75 2.99 2.61 2.61 -0.14 14515 3.49 1.73 5 - - -

Equity Modaraba 524 13.44 2.33 2.44 2.12 2.15 -0.18 15512 2.98 1.05 - - - -

First Dawood Mutual F. 581 0.69 2.12 2.27 2.08 2.19 0.07 88711 2.39 1.30 - - - -

Golden Arrow 760 2.53 3.48 3.59 3.40 3.54 0.06 253058 3.80 2.56 17 - - -

H B L Modaraba 397 2.83 8.00 8.89 8.25 8.50 0.50 36100 9.00 5.11 11 - - -

Habib Modaraba 1008 6.03 6.98 7.00 6.85 7.00 0.02 131000 7.10 5.95 21 - - -

JS Growth Fund 3180 73.75 6.00 6.00 5.90 5.90 -0.10 155611 6.10 2.65 5 - - -

JS Value Fund 1186 19.64 5.49 5.52 5.33 5.50 0.01 157400 5.56 2.31 10 - - -

KASB Modaraba 283 1.31 1.72 2.50 1.75 1.78 0.06 2512 2.60 1.26 2.8 - - -

Meezan Balanced Fund 1200 7.45 7.75 7.76 7.75 7.75 0.00 33170 8.25 5.15 15.5 - - -

Mod Al-Mali 184 19.50 1.96 2.20 1.80 1.95 -0.01 22433 2.50 0.56 - - - -

Pak Modaraba 125 5.20 1.08 1.18 1.03 1.04 -0.04 13411 2.00 0.46 3 - - -

PICIC Energy Fund 1000 2.10 7.50 7.54 7.20 7.24 -0.26 63503 7.80 5.00 10 - - -

PICIC Growth Fund 2835 9.18 14.53 14.50 14.30 14.32 -0.21 102515 15.06 7.90 20 - - -

PICIC Inv Fund 2841 7.84 6.82 6.96 6.75 6.90 0.08 97127 7.14 3.52 10 - - -

Prud Modaraba 1st 872 2.30 1.08 1.10 1.00 1.01 -0.07 50001 1.20 0.81 3 - - -

Punjab Modaraba 340 - 1.20 1.50 1.30 1.40 0.20 1288 2.54 0.50 1 - - -

Safeway Mutual Fund 545 8.00 7.50 8.00 7.05 8.00 0.50 1010 8.25 5.01 18.2 - - -

Tri-Star 1st Modaraba 212 - 1.55 1.35 0.95 1.34 -0.21 2760 4.50 0.95 - - - -

Tri-Star Mutual 50 2.64 1.21 1.36 0.91 0.95 -0.26 961 2.45 0.86 - - - -

U D L Modaraba 264 1.74 6.08 6.15 6.12 6.12 0.04 9600 6.64 4.71 12.5 - - -



(%) (%) (%) (%)

FINANCIAL SERVICES

Performance of SR Financial Services Index


427.96 434.90 411.47 417.96 -10.00 -2.34


5,276,417 - - 30,336.44 mn 19,423.36 mn 444.07


11.90 0.28 0.91 99.56 3.25 406.36

AMZ Ventures 225 1.45 0.70 0.78 0.54 0.64 -0.06 91718 0.95 0.33 - - - -

Arif Habib Investments 360 3.62 18.50 18.68 18.01 18.40 -0.10 404 19.98 16.00 - 20B - -

Arif Habib Limited 450 13.76 27.31 27.80 26.75 26.97 -0.34 56619 28.95 24.40 - 20B - -

Arif Habib Corp 3750 5.21 28.42 28.75 28.20 28.32 -0.10 2157908 30.20 22.80 30 - - -

Dawood Cap Mangt. XB 150 1.34 1.50 1.50 1.49 1.50 0.00 22122 2.14 1.15 - - - -

Dawood Equities 250 - 2.23 2.25 2.01 2.08 -0.15 2001 2.75 1.28 - - - -

Escorts Bank 441 - 2.45 2.75 2.40 2.50 0.05 63012 3.80 2.00 - - - -

Grays Leasing 215 - 2.50 2.50 2.00 2.41 -0.09 1051 2.95 0.18 - - - -

IGI Investment Bank 2121 16.25 2.79 2.84 2.54 2.60 -0.19 31814 3.90 1.50 - - - -

Invest and Fin Sec 600 796.00 7.32 8.04 7.16 7.96 0.64 77865 8.10 6.16 11.5 - - -

Invest Bank 2849 - 0.67 0.73 0.66 0.72 0.05 1020 1.09 0.53 - - - -

Ist Cap Securities 3166 - 3.35 3.48 3.06 3.39 0.04 238964 4.50 2.95 - 10B - -

Ist Dawood Bank 626 0.66 1.82 1.84 1.74 1.84 0.02 28500 2.40 1.05 - - - -

Jah Siddiq Co 7633 - 12.03 12.17 11.54 11.60 -0.43 4227423 14.05 9.48 10 - - -

JOV and CO 508 - 4.12 4.20 4.00 4.01 -0.11 176950 5.38 2.16 - - - -

JS Global Cap 500 7.61 29.48 29.06 28.05 28.31 -1.17 5471 32.37 25.11 - - - -

JS Investment 1000 28.58 7.02 7.09 6.83 6.86 -0.16 158839 7.59 5.76 - - - -

KASB Securities 1000 - 4.88 5.25 4.80 4.96 0.08 9835 5.43 3.85 - - - -

Orix Leasing 821 4.67 6.33 6.40 6.25 6.35 0.02 811 7.29 5.02 - - - -

Pervez Ahmed Sec 775 - 2.09 2.16 2.02 2.06 -0.03 63617 2.70 1.61 - - - -

Saudi Pak Leasing 452 - 0.78 0.79 0.62 0.79 0.01 1053 0.97 0.46 - - - -

Sec Inv Bank 514 12.44 2.96 3.15 3.05 3.11 0.15 2873 4.99 1.67 - - - -

Trust Inv Bank 586 3.13 1.95 2.00 1.60 2.00 0.05 14400 2.98 1.26 - - - -



(%) (%) (%) (%)

LIFE INSURANCE

Performance of SR Life Insurance Index


895.00 914.19 860.48 864.28 -30.72 -3.43


14,040 - - 2,290.72 mn 10,074.02 mn 895.00


5.90 3.36 3.85 355.53 4.07 848.60

EFU Life Assurance 850 42.30 76.99 78.90 73.99 74.45 -2.54 13939 86.95 62.75 - - - -

New Jub Life Insurance 627 29.28 45.88 46.74 43.60 43.63 -2.25 101 49.31 39.95 - - - -



(%) (%) (%) (%)

BANKS

Performance of SR Banks Index


1,227.89 1,245.79 1,214.36 1,220.69 -7.20 -0.59


17,644,971 - - 257,548.02 mn 731,364.85 mn 1,242.05


8.71 1.21 13.94 40.49 4.65 1,220.69

Allied Bank Limited 7821 6.94 72.01 72.00 71.01 71.37 -0.64 22796 74.00 54.02 20 - - -

Askari Bank 6427 8.80 18.60 18.89 18.25 18.48 -0.12 1190518 19.25 14.96 - - - -

Bank Alfalah 13492 14.56 11.54 11.75 11.31 11.36 -0.18 2862299 11.93 8.91 - - - -

Bank AL-Habib 7322 8.14 38.28 38.49 37.61 37.75 -0.53 328870 39.49 31.44 - - - -

Bank Of Khyber 5004 5.47 4.11 4.19 4.10 4.10 -0.01 47364 4.70 2.76 - - - -

Bank Of Punjab 5288 - 9.39 9.52 9.22 9.29 -0.10 1405801 10.59 8.05 - - - -

BankIslami Pak 52801025.00 4.10 4.15 3.95 4.10 0.00 249128 4.50 2.77 - - - -

Faysal Bank 7309 5.07 15.69 15.99 15.51 15.71 0.02 290907 17.10 13.60 - 20B - -

Habib Bank Ltd 10019 7.78 125.58 127.12 124.10 124.49 -1.09 158779 128.97 100.05 - - - -

Habib Metropolitan Bank 8732 8.49 27.83 28.00 27.60 27.76 -0.07 57503 29.28 19.20 - - - -

JS Bank Ltd 8150 - 2.54 2.62 2.46 2.46 -0.08 46103 3.00 2.32 - 66R - -

KASB Bank Ltd 9509 - 2.30 2.32 1.95 2.03 -0.27 3576270 2.80 1.95 - - - -

MCB Bank Ltd 7602 10.61 239.77 244.40 238.05 239.32 -0.45 968551 250.48 196.00 55 - - -

Meezan Bank 6983 10.07 18.81 19.30 18.80 19.04 0.23 98256 20.30 14.50 - - - -

Mybank Ltd 5304 - 3.17 3.24 3.08 3.11 -0.06 205512 3.40 1.90 - - - -

National Bank 13455 6.79 78.41 79.10 77.53 77.78 -0.63 3035423 80.61 63.53 - - - -

NIB Bank 40437 - 3.13 3.14 3.02 3.05 -0.08 471260 3.35 2.59 - - - -

Samba Bank 14335 - 2.06 2.10 2.01 2.02 -0.04 324301 2.65 1.51 -63.46R - -

Silkbank Ltd 26716 - 2.77 2.80 2.65 2.71 -0.06 1063462 3.05 2.50 - - - -

Soneri Bank 6023 - 7.50 7.89 7.41 7.44 -0.06 49002 8.48 6.24 - - - -

Stand Chart Bank 38716 12.74 8.25 8.35 8.25 8.28 0.03 15419 9.04 6.15 - - - -

Summit Bank Ltd 5000 - 4.31 4.40 4.15 4.22 -0.09 156461 4.63 2.70 - - - -

United Bank Ltd 12242 8.09 69.06 69.80 68.71 68.86 -0.20 1159737 70.65 52.80 10 - - -



(%) (%) (%) (%)

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index


812.62 826.18 797.37 803.84 -8.78 -1.08


2,027,148 - - 11,111.34 mn 49,409.25 mn 826.44


16.04 0.83 5.20 79.54 4.96 803.84

Adamjee Insurance 1237 26.48 92.96 94.80 90.50 91.36 -1.60 1064392 96.35 66.50 10 - - -



(%) (%) (%) (%)

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index


1,657.24 1,686.67 1,631.88 1,648.07 -9.17 -0.55


1,122,536 - - 12,202.80 mn 35,185.09 mn 1,657.24


10.45 1.19 11.41 66.79 6.39 1,543.24

Sui North Gas 5491 8.60 29.00 29.39 28.61 28.89 -0.11 177559 34.75 25.71 20 - - -Sui South Gas 8390 3.47 23.21 23.75 22.80 23.03 -0.18 944977 29.15 19.95 15 25B - -



(%) (%) (%) (%)

ELECTRICITY

Performance of SR Electricity Index


1,376.54 1,391.85 1,362.73 1,371.09 -5.44 -0.40


13,692,525 - - 95,369.29 mn 112,328.45 mn 1,407.79


15.54 1.45 9.35 104.13 6.70 1,371.03

Genertech 198 - 0.86 0.90 0.80 0.90 0.04 5001 1.18 0.73 - - - -Hub Power 11572 7.27 39.87 40.21 39.52 39.72 -0.15 1545881 41.20 33.15 50 - - -Japan Power 1560 - 1.82 1.89 1.75 1.84 0.02 1258153 2.25 1.50 - - - -KESC 7932 - 3.03 3.10 3.00 3.01 -0.02 1135149 3.55 2.04 - 7.8R - -Kohinoor Energy 1695 10.57 19.21 19.45 18.92 19.03 -0.18 26829 25.25 17.95 15 - - -Kohinoor Power 126 2.80 4.50 4.60 4.16 4.59 0.09 117 5.39 4.01 - - - -Kot Addu Power 8803 5.36 44.52 44.90 43.90 44.12 -0.40 890704 45.85 38.92 50 - - -Nishat Chunian Power Ltd 3673 3.69 16.82 17.30 16.71 16.82 0.00 5072165 18.01 11.60 - - - -Nishat Power Ltd 3541 29.03 17.71 18.29 17.46 18.00 0.29 3494570 18.70 13.05 - - - -Sitara Energy Ltd 191 3.52 19.00 19.00 18.50 18.89 -0.11 11000 19.65 17.98 20 - - -Southern Electric 1367 - 2.27 2.30 2.22 2.22 -0.05 226151 2.80 2.05 - - - -Tri-star Power XD 150 - 0.96 1.23 0.85 0.89 -0.07 26805 1.75 0.75 - - - -



(%) (%) (%) (%)

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index


1,181.72 1,216.44 1,173.84 1,181.57 -0.15 -0.01


13,502,440 - - 50,077.79 mn 81,858.21 mn 1,198.06


6.41 0.82 12.84 62.56 9.75 1,137.75

Pak Datacom 78 4.94 80.25 80.00 79.15 80.00 -0.25 1750 99.76 76.50 80 - - -Pakistan Telecomm Co A 37740 13.35 20.01 20.60 19.91 20.03 0.02 12553369 20.65 18.21 17.5 - - -Telecard 3000 0.66 2.30 2.38 2.21 2.22 -0.08 500517 2.67 2.12 1 - - -WorldCall Tele 8606 - 2.89 2.99 2.86 2.90 0.01 446804 3.45 2.40 - - - -Wateen Telecom Ltd 6175 - 4.06 4.17 3.85 4.01 -0.05 778940 4.65 3.35 - - - -



(%) (%) (%) (%)

Atlas Insurance 369 6.29 38.21 39.85 39.00 39.55 1.34 24474 40.00 32.10 - - - -

Central Insurance XB 279 9.21 79.00 82.74 78.00 81.05 2.05 2009 83.00 50.10 10 10B - -

Century Insurance 457 6.88 11.26 11.34 11.00 11.00 -0.26 2100 12.00 9.65 - - - -

EFU General Insurance 1250 - 43.37 44.00 43.00 43.21 -0.16 36642 48.63 39.48 - - - -

Habib Insurance 400 3.40 14.02 14.50 13.65 14.30 0.28 8352 15.50 10.60 - - - -

IGI Insurance 718 16.81 92.12 92.00 90.55 90.63 -1.49 11938 99.88 79.00 10 20B - -

New Jub Insurance 791 16.17 59.60 61.80 60.00 60.00 0.40 3787 61.80 53.38 - - - -

Pak Reinsurance 3000 45.21 18.13 18.35 17.54 17.63 -0.50 642032 19.40 14.00 - - - -

Pak Gen Insurance 250 1.91 8.29 8.24 7.65 8.09 -0.20 14592 8.50 5.56 - - - -

PICIC Ins Ltd 350 - 10.13 10.45 9.66 9.97 -0.16 1277 10.75 2.20 - - - -

Premier Insurance 303 6.38 12.00 11.81 11.81 11.81 -0.19 200 12.93 8.56 - - - -

Reliance Insurance XB 252 4.03 6.60 6.57 6.55 6.57 -0.03 110 7.70 6.15 - - - -

Silver Star Insurance 253 4.47 7.39 8.20 6.50 7.20 -0.19 12827 8.20 6.01 - - - -

United Insurance XB 400 2.20 7.00 6.99 6.72 6.72 -0.28 410 7.40 4.71 - - - -

UP TO 100 VOLUME

DIIL 10.61 10.61 10.61 10.61 0.00 100

KSTM 0.75 0.60 0.60 0.60 -0.15 90

SIEM 1238.77 1212.00 1210.00 1210.74 -28.03 83

ASFL 3.00 3.00 3.00 3.00 0.00 78

SAZEW 22.75 22.70 22.30 22.63 -0.12 75

LAKST 294.00 304.00 285.00 292.67 -1.33 74

FECS 33.41 31.74 31.74 31.74 -1.67 60

RMPL 2255.00 2339.95 2142.25 2182.60 -72.40 56

AGSML 4.60 5.50 5.50 5.50 0.90 50

FNEL 7.17 7.35 7.29 7.29 0.12 50

BUXL 12.90 12.79 12.50 12.50 -0.40 45

AASM 30.61 31.99 31.99 31.99 1.38 27

MUBT 1.29 1.29 1.29 1.29 0.00 25

WYETH 1015.00 1010.00 972.00 984.25 -30.75 18

TICL 48.22 50.63 45.81 48.22 0.00 15

BGL 2.71 2.81 2.44 2.61 -0.10 14

UPFL 1186.67 1160.00 1150.00 1160.00 -26.67 14

DYNO 11.20 11.42 11.37 11.37 0.17 11

SJTM 2.24 1.24 1.24 1.24 -1.00 11

HUSS 11.97 11.95 11.95 11.95 -0.02 10

HUSI 6.09 5.60 5.20 5.60 -0.49 9

SAPT 104.99 108.90 105.00 105.00 0.01 8

SING 19.40 20.30 18.54 18.54 -0.86 7

DMTM 7.35 8.05 7.94 7.94 0.59 6

FIBLM 1.53 2.48 1.55 2.12 0.59 6

AGIC 10.50 10.73 10.72 10.72 0.22 5

EMCO 3.25 4.00 4.00 4.00 0.75 5

FZTM 403.83 409.00 385.00 392.50 -11.33 5

KOHS 3.35 4.35 2.50 3.17 -0.18 5

SCLL 2.65 2.68 2.66 2.66 0.01 5

MUKT 0.47 0.44 0.44 0.44 -0.03 2

NBF 3.92 3.60 3.60 3.60 -0.32 2

BAFS 59.79 60.50 60.40 60.40 0.61 1

BCL 44.99 44.85 43.70 44.85 -0.14 1

CLOV 72.00 74.80 73.21 73.21 1.21 1

COTT 1.34 1.01 1.01 1.01 -0.33 1

CPMFI 4.10 5.10 4.44 4.44 0.34 1

CSIL 4.69 4.05 4.05 4.05 -0.64 1

CSUML 3.60 3.45 3.45 3.45 -0.15 1

DLL 42.15 42.48 42.48 42.48 0.33 1

GATI 50.80 51.00 51.00 51.00 0.20 1

ICCT 1.49 1.44 1.44 1.44 -0.05 1

IDYM 188.01 194.95 194.95 194.95 6.94 1

JKSM 5.20 6.20 6.20 6.20 1.00 1

JOPP 8.60 8.60 8.60 8.60 0.00 1

KOSM 1.20 1.74 1.24 1.24 0.04 1

LPGL 12.89 13.86 13.86 13.86 0.97 1

MDTL 33.89 32.20 32.20 32.20 -1.69 1

PGCL 26.22 27.40 27.00 27.00 0.78 1

PHDL 37.63 39.51 39.51 39.51 1.88 1

SFL 125.00 125.00 125.00 125.00 0.00 1

SHCI 2.43 2.50 2.43 2.43 0.00 1

SHJS 65.26 68.40 68.20 68.20 2.94 1

SHTM 0.48 0.64 0.59 0.59 0.11 1

SSML 1.85 2.44 2.44 2.44 0.59 1

STML 26.24 27.00 25.99 25.99 -0.25 1

TOWL 5.01 4.52 4.52 4.52 -0.49 1


FUTURE CONTRACTS

PTC-JAN 20.10 20.62 20.07 20.19 0.09 3640000

NML-JAN 69.28 71.90 69.30 71.34 2.06 2739000

FFBL-JAN 43.32 43.95 42.28 42.37 -0.95 1971000

POL-JAN 335.88 341.90 333.01 339.04 3.16 993000

DGKC-JAN 30.86 31.09 30.25 30.32 -0.54 835500

ENGRO-JAN 215.73 218.00 212.10 212.96 -2.77 822000

ANL-JAN 11.43 11.60 11.20 11.21 -0.22 556000

PPL-JAN 228.13 230.90 226.25 226.92 -1.21 427500

FFC-JAN 154.87 155.75 150.00 150.81 -4.06 416500

PSO-JAN 310.83 312.50 306.70 307.10 -3.73 312000

NBP-JAN 78.79 79.30 78.00 78.17 -0.62 214000

MCB-JAN 240.94 244.60 239.49 240.36 -0.58 125500

AICL-JAN 93.52 94.80 91.25 92.02 -1.50 123500

BOP-JAN 9.46 9.60 9.31 9.35 -0.11 51000

UBL-JAN 69.20 69.90 69.30 69.43 0.23 45500

NETSOL-JAN 25.56 25.11 24.29 24.39 -1.17 26500

LUCK-JAN 76.52 76.80 75.60 75.87 -0.65 24000

HUBC-JAN 40.00 40.00 40.00 40.00 0.00 16000

OGDC-JAN 174.74 174.49 172.50 172.67 -2.07 16000

NCL-JAN 24.00 24.15 23.50 23.52 -0.48 13000

AICL-CFEB 94.68 0.00 0.00 93.01 -1.67 0.00

AICL-CJAN 93.44 0.00 0.00 91.79 -1.65 0.00


ZERO VOLUME

ALTN 11.00 10.98 10.98 10.98 -0.02 0.00

ANSS 5.00 5.01 5.01 5.01 0.01 0.00

ARM 15.20 15.30 15.30 15.30 0.10 0.00

BHAT 260.00 259.99 259.99 259.99 -0.01 0.00

CLCPS 1.86 2.00 2.00 2.00 0.14 0.00

FNBM 6.27 6.24 6.24 6.24 -0.03 0.00

GAMON 2.39 2.35 2.35 2.35 -0.04 0.00

KOHTM 1.50 1.49 1.49 1.49 -0.01 0.00

LEUL 1.70 1.75 1.75 1.75 0.05 0.00

MQTM 9.30 9.35 9.35 9.35 0.05 0.00

NATM 11.10 12.10 12.10 12.10 1.00 0.00

PMRS 44.00 43.95 43.95 43.95 -0.05 0.00

PSEL 174.99 172.00 172.00 172.00 -2.99 0.00

SANE 5.54 5.45 5.45 5.45 -0.09 0.00

SHDT 13.19 13.15 13.15 13.15 -0.04 0.00

THCCL 18.00 17.99 17.99 17.99 -0.01 0.00

UVIC 3.75 3.60 3.60 3.60 -0.15 0.00

WAZIR 7.98 7.95 7.95 7.95 -0.03 0.00

YOUW 1.65 1.64 1.64 1.64 -0.01 0.00


Al-Abbas Cement 50.13 3.10 3.00 3.35 3.45 3.25

Allied Bank Limited 63.02 70.90 70.45 71.90 72.45 71.45

Attock Cement 39.07 61.00 60.85 61.45 61.75 61.30

Arif Habib Corp 63.58 28.10 27.85 28.65 28.95 28.40

Arif Habib Limited 54.57 26.55 26.10 27.60 28.20 27.15

Adamjee Insurance 58.69 89.65 87.90 93.95 96.50 92.20

Askari Bank 66.12 18.20 17.90 18.85 19.20 18.55

Azgard Nine 63.31 11.00 10.80 11.50 11.80 11.30

Attock Petroleum 74.65 373.25 368.75 382.25 386.75 377.75

Attock Refinery 70.64 140.35 137.90 146.00 149.20 143.55

Bank Al-Falah 59.67 11.20 11.05 11.65 11.90 11.45

BankIslami Pak 63.55 4.00 3.85 4.20 4.25 4.05

Bank.Of.Punjab 42.41 9.15 9.05 9.45 9.65 9.35

Dewan Cement 51.71 2.05 1.95 2.35 2.55 2.25

D.G.K.Cement 49.38 29.85 29.55 30.75 31.35 30.45

Dewan Salman 53.71 3.05 3.00 3.20 3.30 3.15

Dost Steels Ltd 43.54 2.50 2.45 2.65 2.75 2.60

EFU General Insurance 48.34 42.80 42.40 43.80 44.40 43.40

EFU Life Assurance 48.33 72.65 70.85 77.55 80.70 75.80

Engro Chemical 62.63 209.50 207.35 215.35 219.05 213.20

Faysal Bank 59.31 15.50 15.25 15.95 16.20 15.75

Fauji Cement 50.98 5.00 4.90 5.15 5.25 5.10

Fauji Fert Bin 73.21 41.50 40.90 43.25 44.40 42.65

Fauji Fertilizer 79.95 147.50 144.95 154.25 158.40 151.70

Habib Bank Ltd 58.72 123.35 122.20 126.40 128.25 125.25

Hub Power 65.72 39.45 39.15 40.10 40.50 39.80

ICI Pakistan 66.83 153.40 151.85 156.70 158.40 155.15

Indus Motors 84.02 295.10 288.30 307.85 313.80 301.05

J.O.V.and CO 50.27 3.95 3.85 4.15 4.25 4.05

Japan Power 58.86 1.75 1.70 1.90 1.95 1.85

JS Bank Ltd 42.64 2.40 2.35 2.55 2.65 2.50

Jah Siddiq Co 44.21 11.35 11.15 12.00 12.40 11.75

Kot Addu Power 64.28 43.70 43.30 44.70 45.30 44.30

K.E.S.C 55.75 3.00 2.95 3.10 3.15 3.05

Lotte Pakistan 80.41 15.75 15.35 16.55 16.90 16.15

Lucky Cement 48.79 74.60 73.95 76.35 77.40 75.65

MCB Bank Ltd 63.15 236.80 234.25 243.15 246.95 240.60

Maple Leaf Cement 40.37 2.70 2.65 2.80 2.85 2.75

National Bank 62.64 77.20 76.55 78.75 79.70 78.15

Nishat (Chunian) 56.25 23.20 22.60 24.30 24.90 23.75

Netsol Technologies 75.57 23.75 23.30 25.05 25.85 24.60

NIB Bank 53.70 3.00 2.95 3.10 3.20 3.05

Nimir Ind.Chemical 47.23 1.70 1.50 2.05 2.20 1.85

Nishat Mills 71.59 69.35 67.50 72.50 73.75 70.60

Oil & Gas Dev. XD 54.45 171.60 169.95 175.35 177.45 173.70

PACE (Pakistan) Ltd. 64.97 3.05 2.80 3.45 3.60 3.20

Pervez Ahmed Sec 47.01 2.00 1.95 2.15 2.20 2.10

P.I.A.C.(A) 58.53 2.40 2.35 2.60 2.75 2.55

Pioneer Cement 43.24 6.60 6.35 7.20 7.55 6.95

Pak Oilfields 79.35 332.70 327.65 341.90 346.05 336.85

Pak Petroleum 64.82 223.85 222.00 228.65 231.60 226.80

Pak Suzuki 47.93 70.00 69.25 71.75 72.75 71.00

P.S.O. XD 62.33 303.05 300.70 309.75 314.10 307.40

P.T.C.L.A 62.01 19.75 19.50 20.45 20.85 20.20

Shell Pakistan 70.63 213.90 210.50 220.35 223.40 216.95

Sui North Gas 62.53 28.55 28.20 29.30 29.75 28.95

Sitara Peroxide 50.92 13.30 13.10 13.85 14.20 13.65

Sui South Gas 61.85 22.65 22.25 23.60 24.15 23.20

Telecard 47.42 2.15 2.10 2.35 2.45 2.25

TRG Pakistan 47.58 3.45 3.35 3.65 3.75 3.55

United Bank Ltd 63.57 68.45 68.05 69.55 70.20 69.10

WorldCall Tele 54.70 2.85 2.80 3.00 3.05 2.90

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Fatima Fertilizer Company Ltd 20-Jan 11:30

Pak arab Fertilizers Limited 20-Jan 3:30

Latif Jute Mills Limited 20-Jan 12:00

Ideal Energy Limited 21-Jan 10:00

Pakistan Tobacco Co Ltd. 21-Jan 10:30

Invest Capital Investment 22-Jan 11:00

Husein Industries Limited 22-Jan 3:00

Invest Capital Investment Bank Ltd 22-Jan 11:00

Siemens (Pakistan) Engineering Co 23-Jan 3:30

Shaheen Insurance Company Ltd. 24-Jan -

Hinopak Motors Limited 24-Jan 12:00

Pakistan Petroleum Ltd 24-Jan 10:00

Meezan Islamic Fund 24-Jan 2:00

Meezan Islamic Income Fund 24-Jan 2:00

Meezan Capital Protected Fund-1 24-Jan 2:00

Meezan Balanced Fund 24-Jan 2:00

Sindh Abadgar's Sugar Mills 24-Jan 4:00

Mirpurkhas Sugar Mills Ltd 25-Jan 3:00

Kohinoor Sugar Mills Ltd 25-Jan 11:30

WorldCall Telecom Limited 25-Jan 13:00

BOARD MEETINGS

Company Date Time

Thursday, January 20, 2011 8

KARACHI: Travel Agents Association of Pakistan (TAAP) hosted a reception in honour of commercial specialists of USConsulate Karachi Sohrab Jang and Mohammad Aamir. Group photograph shows Chairman, Travel Agents Association of

Pakistan (TAAP), Yahya Polani, Parvez Hussain, Dr Sharif, Anwar Rashid, Nadeem Sharif, Hanif Rinch, Col (R) Akbar Sharif, Amin Wali Muhammad, Naeem Sharif and Tafseer-Ul-Islam.-Staff Photo

PIA sees some transfers, postings

ISLAMABAD: The incidentsof terrorism have damaged thetourism sector across the coun-try causing a loss worth Rs550billion.Moreover recent unprecedentedfloods destroyed bridges androads costing over Rs500 bil-lion in the Northern areas.

According to official sourcesthe number of tourists travellingacross the globe has declined by50 per cent and Pakistan alsowitnessed very limited visits offoreign tourists during last fewyears.

The tourism sector is one ofthe industries which contributeto economic growth of a coun-try, but unfortunately this sectordid not experience any consid-erable growth in Pakistan dur-ing last few years due to inci-dents of terrorism, flash floodsand 2005 earthquake.

"The tourism sector is highlyneglected and no marketing isbeing done to lure internationaltourists into Pakistan," atourism ministry official said.

He said that the tourism poli-cy was finalised but after the18th amendment this depart-ment has been shifted to the

provinces. However, he said,that the federal ministry fortourism took various steps forpromoting inter-provincialtourism.

The official said the ministryis facilitating male and femaletourists on equal basis and pro-viding all the possible facilitiesto both local and foreigntourists.

Pakistan with its diverse cul-ture, people, and landscape hasbeen attracting millions oftourists. But the industry facedsevere losses during last fewyears due to 2005 earthquake,terrorism and recent devastatingfloods.

The tourism departments ofthe four provinces and the fed-eration need to explore anddevelop new sites for foreignand local tourists for incomegeneration as well as revival ofthe industry.

The growth in the tourismindustry depends on rise in thearrival of foreign tourists and anincrease in domestic tourism.

The tourism departmentshould also introduce newpackages to promote the sector.-APP

Terrorismblew offRs550bntourism

KARACHI: Etihad Airways,the national airline of UnitedArab Emirates, in conjunctionwith Radio FM 91, haslaunched a series of on-air pro-motions offering listeners thechance to win holiday packagesto Abu Dhabi and full day pass-es to the newly-opened FerrariWorld, the world's first Ferraritheme park a hand out issuedhere said Wednesday.

According to details the com-petition, which will run untilJanuary 28, will air on three ofPakistan's top radio shows:n Darna Mana Hai with Waqar

Zaka, every Tuesday from mid-night to 2:00 am.nDrive On with Naveen Waqar,

every Monday to Thursday, from5:00 pm to 8:00 pm. n Desi Girl with Anoushey

Ashraf, every Friday, from 11:00am to 1:00 pm.

Listeners will have to answerquestions related to EtihadAirways and Ferrari World inAbu Dhabi. One lucky winnerwill be announced on eachshow every day between nowand January 28.

Amer Khan, Etihad Airways'Country Manager in Pakistan,

said, "Abu Dhabi has becomeone of the most sought afteremerging tourist destinations inthe world and we are pleased topartner with Radio One FM 91to promote our airline's homebase through this contest."

Winners of the radio contestwill receive a return CoralEconomy ticket each from oneof the airline's four destinationsin Pakistan i.e. Karachi, Lahore,Islamabad and Peshawar to AbuDhabi, and full day passes toFerrari World.

Shazya Aamir, GeneralManager Radio One FM 91,said, "Continuing what hasnow become a trademark tradi-tion of bringing forth thebiggest giveaways on the mostinnovative of platforms, RadioOne FM 91 marks yet anotherchapter in an enterprising andengaging history of campaignsbetween ourselves and EtihadAirways through this contest.

"This is a fabulous promotionto start the year and we look for-ward to working with Etihadclosely in the future and expand-ing what has undoubtedlyproved to be a fruitful relation-ship."-PR

EtihadAirwaystunes in to FM 91

ISTANBUL: Europe's fastestgrowing airline, TurkishAirlines will add new destina-tions on its rapidly expandingnetwork this year. The world's8th biggest carrier, TurkishAirlines is planning to launchflights to 11 new destinations, astatement released here saidWednesday. According to theflight programme confirmed bythe Directorate General of CivilAviation, Ministry of Transport,Turkish Airlines will begin tooperate 3 weekly flights toGuangzhou (China) from Jan

30, 4 weekly flights to LosAngeles (USA) from March3and 4 weekly flights to Shiraz(Iran) from March 14, 2011. Turkish Airlines is also planningto start new flights to Malaga(Spain), Salonika (Greece),Valencia (Spain), Toulouse(France), Manila (Philippines),Naples (Italy), Turin (Italy),Genoa (Italy) in the year 2011.A Star Alliance member,Turkish Airlines currently fliesto 171 destinations, including130 international and 41 domes-tic routes.-PR

More skies comingto Turkish Airlines

QUETTA: Pakistan InternationalAirines (PIA) has started Zahidanflights. The inaugural ceremony in thisconnection was held at CIPlounge PIA, Quetta. ProvincialMinister for Law and InformationTechnology, Begum ShamaPerveen Magsi was the chiefguest while Iranian CouncilGeneral based in Quetta, SyedHasan Yehyavi, GM Sales PIA,Rashid Sidique and other officialswere also present on the occasion.

Addressing the inaugural cere-mony, Provincial Minister forLaw and Information technologyhailed the flight operationbetween two brotherly countries.

She hoped that Karachi-Quetta-Zahidan flights would bring aboutpositive impact on the socio-eco-nomic growth of both the coun-tries.

Iranian Council General inQuetta, Syed Hasan whileexpressing his pleasure over thedevelopment said, it would helptraders in two sides of the borderto enhance the trade activities,besides it would also encouragetourism. I have approached thehigh-ups in Iran to initiate flightoperations from Tehran for othercities of Pakistan, Iranian CGnoted.

On the occasion, GM SalesPIA, Rashid Sidique said that PIAwould operate twice weeklyflights on every Wednesday andSaturday to Zahidan fromKarachi and Quetta.

Transfer and postings havebeen made in PIA at senior man-agement positions.

A spokesman of the organisa-tion announced here that PIA'sDirector Corporate Planning,Shahnawaz Rehman, has alsobeen given the charge of DirectorHuman Resource Administrationand Coordination upon retirementof Haneef Pathan who is proceed-ing on LPR (Leave Preparatory toRetirement).

PIA's Senior General ManagerTraining and Development,Khalid Iftikhar, has been promot-ed and posted as DirectorProcurement and Logistics.

The airline's Country ManagerSaudi Arabia, Khurram Mushtaq,has been promoted and posted asGeneral Manager PassengerSales. He will take charge of thenew assignment upon retirementof Rashid Farookee by the end ofthis month.

Special Assistant to ManagingDirector, M Younus Khan, hasalso been transferred as PrincipalPIA Training Centre.-APP

PIA has airlinkwith Zahidan

Staff Reporter

KARACHI: To increase bilat-eral travel trade relations andtourism between Pakistan andUSA, the department of USCommercial Service, USConsulate General, Karachi, isgoing to organise a Trade Showunder the name and style ofInternational Powwow fromMay 21 - 25, 2011 at theMoscone Convention Centre inSan Francisco, USA.

This was stated by SohrabJang and Mohammad Aamir,the Commercial Specialists ofUS Consulate Karachi in abriefing held at the office ofTravel Agents Association ofPakistan, (TAAP) Karachi.

Seventy countries will be par-ticipating in this Trade Showand the US Consulate Generalis eager that a delegation ofTravel Agents Association of

Pakistan should participate inthis Trade Show, US officialsadded.

The reason to invite Pakistanidelegates of Travel Agents inthis show is basically to pro-mote Tourism between the twocountries and also the said visitof Pakistani delegation shall becoincided with the various B2Bdiscussions with the delegatesof other participating countries,so that the travel trade ofPakistan can be benefited withall the edges, Sohrab added.

During the briefing, US offi-cials also stated that in SanFrancisco there are umpteenthplaces for the tourists and ofcourse the infrastructure is alsovery good for the tourists there,which will be highlighted dur-ing the show. ThisInternational Powwow showhas full support from the USGovernment as well as the

department of US CommercialService, Karachi will also pro-vide fullest support and cooper-ation to the Pakistani delegates,the status of the Pakistani dele-gation during the show, wouldbe VVIP, US officials added.

Yahya Polani, ChairmanTravel Agents Association ofPakistan assured fullest coop-eration of the members ofTAAP in order to make suc-cessful this Trade Show.Polani also assured that toincrease the bilateral trade rela-tions between the two coun-tries, the TAAP will play animportant role during the exhi-bition. On account of waragainst terrorism, Pakistan haslost his soft image before theinternational community andthe tourism sector of Pakistanand the economy both havebeen badly affected, Polaniadded.

Pak-US trade, travel‘powwow’ in May

PIA sell-off,

never: Abidi ISLAMABAD: Advisor toPresident, Faisal Raza Abidihas said that present govern-ment has regularised servicesof around 5,000 employees ofPakistan International Airline(PIA) inducted during PML-Nand Pervez Musharrafregimes.

"It is the Pakistan PeoplesParty (PPP) led coalition gov-ernment which has facilitatedthousands of PIA's employeesand it can not even thinkabout privatisation of thenational carrier," said Abiditalking to a private newschannel.

Abidi said he, on behalf ofPresident Asif Ali Zardari,now announces that not a sin-gle portion of PIA would beprivatised rather its perform-ance would be improved byadopting numerous measures.

"The government is provid-ing funds to PIA, we are try-ing to make the organisationstand on its own feet andbringing improvement in itsfunctioning," he said whileresponding to a question.

When asked about compe-tence of PIA ManagingDirector, Abidi said the MDhad made the planes able tofly so as to meet the growingpassengers' requirement. Inthis regard, he said PIA inkedan agreement worth Rs5 bil-lion with a foreign companyand added for the last twoyears the organisation had nottaken a single plane on leasefor Haj operation.

Pakistan Airline PilotsAssociation (PALPA)'sCaptain Sohail Baloch alsoattended the programme.-APP

Gilani

tasks PIA

with revivalISLAMABAD: Prime MinisterSyed Yousuf Raza Gilani hasasked the management ofPakistan International Airlinesto improve its services and don'tlet flight operations delay any-more.

Chairing a meeting here todiscuss the matters of PIA, thePrime Minister said he wouldlike to see PIA to regain pastdistinction among the interna-tional carriers.

The Prime Minister urgedupon the PIA management toadopt modern managementtechniques to help improve itsservices.

He observed that though themodernisation of the fleet isquite important yet image of anyairline heavily depends mainlyon care, courtesy and efficiencyof the staff as well as the man-agement. He said the govern-ment was cognisant of the finan-cial constraints of the corpora-tion, adding the managementcould popularise and enhancethe business of the airline byimproving passenger care andservices.The Prime Ministerstressed upon the need to reviewthe working of the Corporationto introduce cost efficient meas-ures to reduce expenditure.

He mentioned that the govern-ment had already launched anumber of schemes includinghousing schemes for the welfareof PIA employees.

He said now it was the respon-sibility of employees to workwith dedication to makePakistan flag carrier as a recog-nised airline in the world.Earlier, the management gave adetailed briefing on issues con-cerning the Corporation. Theyalso apprised the Prime Ministerabout proposals regarding jointventures and cooperation withother carriers to enhance airlinebusiness. The meeting wasattended by the Minister forDefence, Ch Ahmad Mukhtar,Secretary Defence, MD PIA,DG CAA and other senior offi-cers of the Prime Minister'sSecretariat.-APP

Cambodian

airline told

to pay crash

compensationSEOUL: A Seoul court Fridayordered a Cambodian airline topay 3.2 billion wons ($2.8 mil-lion) in compensation to thefamilies of passengers killed ina 2007 plane crash.

PMTair's Antonov An-24crashed in southern Cambodiain June 2007 on its way fromSiem Reap to the beach resortof Sihanoukville. All 22 peopleaboard were killed, including

13 tourists from South Korea.The plane appeared to have

hit a mountain in bad weather,according to Nuon Sary, deputypolice chief of Cambodia'sKampot province, at the time.

Relatives of the South Koreanvictims filed suit in 2008 seek-ing 4.5 billion won in compen-sation. They claimed the acci-dent was caused by human errorand mechanical defects.-APP

Aus Qantasflies intotroubleagain

SYDNEY: A Qantas passengerjet bound for New York made anunscheduled stop in Fiji after itdeveloped a problem with oneof its engines, the Australian air-line said Wednesday.

Qantas said flight QF107, aBoeing 747, carrying 375 pas-sengers from Sydney to NewYork via Los Angeles, toucheddown in Nadi on Tuesday forrepairs to a fuel valve supplyingone of its engines.

"Just past Nadi the flight crewgot a message to say there was afault with a fuel valve so theyreturned to Nadi to correct it," aQantas spokeswoman told AFP."They could have flown on, it wasjust a precautionary measure."

The passengers were givenhotel accommodation for thenight and the flight continuedearly Wednesday, she added.

The hitch comes just daysafter another Qantas Boeing747, QF11 to Los Angeles,experienced a contained enginefailure on the runway of Sydneyairport due to a turbine bladedefect.

Media reports on that incidentsaid that passengers heard "aloud bang" and saw blacksmoke pouring forth from theaffected engine, with the captainreportedly telling those on boardthat the engine had "cookeditself" over the plane's intercom.

The incidents follow a dra-matic few months for theAustralian airline which inNovember temporarily suspend-ed flights of its Airbus A380superjumbos after an engine onone exploded after taking offfrom Singapore, damaging theplane. Nobody was hurt in theincident and the plane returnedsafely to Singapore but the blastcaused pieces of the engine torain down on an Indonesianisland. Australian safety investi-gators have said that an oil leakin one of the A380's Rolls-Royce Trent 900 engines mayhave caused the explosion, andthat they are satisfied with theactions taken to prevent it hap-pening again.-Agencies

JAKARTA: Malaysian palm oilrose to a fresh one week high onWednesday, tracking compara-tive oils higher on persistentuncertainty about whether outputcan keep pace with robustdemand.

Vegetable oil prices may haverestarted their rally as heavy rainsstall harvesting in SoutheastAsian oil palm estates andArgentine soy crops continue tosuffer from insufficient rains.

The benchmark April 2011crude palm oil contract on BursaMalaysia Derivatives ended up1.7 per cent at 3,732 ringgit($1,220) a tonne after going ashigh as 3,735 ringgit, a levelunseen since Jan. 11.

Overall, traded volume stood at26,000 lots of 25 tonnes each,

compared with a total of 11,293lots on Tuesday.

ICDX's April CPO futures con-tract was at 10,915 rupiah per kg,compared to 10,825 rupiah per kgwhen it opened. Market volumewas 2,020 lots of 10 tonnes each.

Traders are also mindful of anexpected 5 per cent rise in exporttaxes to 25 per cent due inFebruary in Indonesia, theworld's largest palm oil producer.

Palm oil and soyoil prices arelikely to rally this year afterMalaysia's stocks-to-use ratio fell

to its lowest in seven years ontightening supplies and firmdemand from Asian buyers.

The ratio, which shows thelevel of ending stocks as a per-centage of total demand, fell to9.2 per cent in Malaysia for 2010due to erratic weather curbingoutput for the past two years andrising orders from China andIndia. The most-active Sept 2011soyoil on the Dalian CommodityExchange rose 1.5 per cent. USsoyoil for March climbed 0.8 percent. -Reuters

Palm oil surgeson weather woes


POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1250

January (3rd Wednesday) 1310 1255

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for January 18 2011

LME Official Prices, US$ per tonne for January 18 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2301 2444 9739 2692.5 26355 27010 2443 2405

Cash seller 2302 2444.5 9740 2693 26360 27020 2443.5 2406

3-months buyer 2275 2460 9714 2659 26350 27000 2454 2439

3-months seller 2280 2462 9715 2660 26355 27005 2457 2440

15-months buyer 2205 2513 9475 2570 25650 26425 2480 2460

15-months seller 2215 2518 9485 2575 25750 26475 2485 2470

27-months buyer 2205 2548 9080 2508 24775 2453 2515

27-months seller 2215 2553 9090 2513 24875 2458 2525

LONDON METAL EXCHANGE (METALS)

LONDON: Oil pricesreversed earlier gains onWednesday after a drop inUS stocks at the market openand weak economic data inthe world's top oil consumeroutweighed a softer dollar.

US crude oil prices fell by55 cents to $90.83 a barrel by1524 GMT. ICE Brentfutures forMarch were bet-ter supported,helped by NorthSea oil outages,but still fell 15cents to $97.65 abarrel.

"The eurobacking off, equities notgoing anywhere and a bit ofprofit-taking coming inpulled crude back," said TomBentz, a broker at BNPParibas Commodity FuturesInc in New York.

US stocks fell onWednesday after GoldmanSachs posted a decline inquarterly profit, whilegroundbreaking on new UShome construction fell more-than-expected in December.

A weak dollar earlier in thesession helped stimulate buy-ing and pushed oil prices up,

but the dollar index laterpared losses.

Milder weather in thenorthern hemisphere andindications of improving sup-plies are also bearish factorsin the market and could capprices, said VTB Capital ana-lyst Andrey Kryuchenkov.

"Prices got carried away

and shot to the upside, espe-cially in London ... everyoneassumed we would get to$100 a barrel, but now itlooks like we won't and, evenif we do, that we won't go farbeyond it," he said.

The possibility of higheroutput from OPEC leaderSaudi Arabia could temperbullish sentiment after theInternational Energy Agencysaid the producer group wasquietly boosting output tocool the oil price rally.

But analysts and traders,including some of the

Kingdom's big customers,were sceptical and said in aReuters survey that Saudioutput was flat in December.

For now, technical analystssaw oil as neutral and saidBrent was unlikely to breachthe 27-month high of $99.20a barrel reached last week.

The IEA revised its globaloil demandgrowth fore-cast higher in2011 to 1.41million bar-rels per day(bpd) but saidthis repre-sented just

half of last year's growthrate.

Oil supplies looked set toimprove, with Alaska's mainoil pipeline about to restoreshipments to its normal rateof 630,000 barrels bpd inunder a week from around510,000 bpd, after its recentshutdown due to a leak, theoperator said on Tuesday.

The release of weekly USindustry and government oilinventory data this week willbe delayed a day to Thursdayfollowing a national holidayearlier this week. -Reuters

Crude oil prices fall onUS economic uncertainty

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Wednesday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Jan111025.00, Feb11 1025.00,Mar11 1025.00, Apr111033.00, May11/Jul111037.00+4.00, Aug11/Oct111042.00+4.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Feb11/Apr111080.00-10.00, May11/Jul111075.00+0.00, Aug11/Oct111005.00-5.00, Nov11/Jan121010.00+0.00, Feb12/Apr121015.00+0.00.

SUNOIL: EU dlrs tonneextank six ports optionFeb11/Mar11 1490.00+5.00,Apr11/Jun11 1470.00+10.00,Jul11/Sep11 1490.00+10.00,Oct11/Dec11 1380.00+0.00.

LINOIL: Any origin dlrstonne extank RotterdamFeb11/Mar11 1540.00+5.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Jan111270.00+10.00, Feb111270.00+10.00, Mar111270.00+10.00, Apr11/Jun111260.00+20.00, Jul11/Sep111240.00+20.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Feb11 1310.00,Mar11 1300.00, Apr11/Jun111285.00.

PALMOIL: RBD dlrs tonnefob Malaysia Feb111255.00+5.00, Mar111245.00+2.50, Apr11/Jun111230.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Feb111265.00+5.00, Mar111255.00+2.50, Apr11/Jun111240.00+15.00, Jul11/Sep111215.00+10.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamDec10/Jan11 2300.00,Jan11/Feb11 2250.00,Feb11/Mar11 2150.00+130.00,Mar11/Apr11 2140.00+140.00,Apr11/May11 2130.00+140.00.-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

19-Jan-2011 CRUDE100 FE11 US$ Per Barrel 91.30 91.98 90.62 91.94 186 91.54 91.94 28

19-Jan-2011 CRUDE100 MA11 US$ Per Barrel 92.19 92.93 91.50 92.93 257 92.44 92.93 140

19-Jan-2011 CRUDE100 AP11 US$ Per Barrel 93.21 93.94 92.55 93.94 44 93.42 93.94 30

19-Jan-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 28.77 29.41 28.77 29.38 216 29.18 29.38 52

19-Jan-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 28.80 29.39 28.80 29.39 - 29.20 29.39 -

19-Jan-2011 GOLD 01oz FE11 US$ Per Troy Ounce 1369.50 1376.50 1365.00 1375.70 1,744 1372.80 1375.70 1,007

19-Jan-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1369.40 1377.00 1365.30 1376.50 2,680 1373.60 1376.50 2,738

19-Jan-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1370.30 1377.60 1366.00 1377.40 2,501 1374.50 1377.40 2,068

19-Jan-2011 GOLD 100oz FE11 US$ Per Troy Ounce 1371.00 1376.00 1364.90 1375.70 106 1372.80 1375.70 13

19-Jan-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1369.30 1376.50 1369.30 1376.50 - 1373.60 1376.50 -

19-Jan-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1370.10 1376.50 1370.10 1376.50 - 1374.50 1377.40 -

19-Jan-2011 GOLD JA11 Per 10 grms 38048.00 38084.00 38048.00 38084.00 - 38167.00 38084.00 30

19-Jan-2011 GOLD FE11 Per 10 grms 38040.00 38225.00 37870.00 38204.00 15 38176.00 38204.00 18

19-Jan-2011 GOLD MA11 Per 10 grms 38071.00 38218.00 38071.00 38218.00 - 38190.00 38218.00 1

19-Jan-2011 KILOGOLD JA11 Per 10 grms 38200.00 38200.00 38020.00 38057.00 2 38140.00 38057.00 -

19-Jan-2011 KILOGOLD FE11 Per 10 grms 38176.00 38176.00 38029.00 38176.00 2 38148.00 38176.00 2

19-Jan-2011 TOLAGOLD50 JA11 Per Tola 44346.00 44389.00 44346.00 44389.00 - 44485.00 44389.00 -

19-Jan-2011 TOLAGOLD100 JA11 Per Tola 44346.00 44389.00 44346.00 44389.00 - 44485.00 44389.00 -

19-Jan-2011 MINIGOLD MON Per 10 grms 39132.00 39265.00 39132.00 39265.00 - 39238.00 39265.00 -

19-Jan-2011 MINIGOLD TUE Per 10 grms 39175.00 39307.00 39175.00 39307.00 - 39281.00 39307.00 -

19-Jan-2011 MINIGOLD WED Per 10 grms 39089.00 39321.00 39089.00 39321.00 - 39296.00 39321.00 -

19-Jan-2011 MINIGOLD THU Per 10 grms 39103.00 39237.00 39103.00 39237.00 - 39210.00 39237.00 -

19-Jan-2011 MINIGOLD FRI Per 10 grms 39118.00 39251.00 39118.00 39251.00 - 39224.00 39251.00 -

19-Jan-2011 TOLAGOLD MON Per Tola 44972.00 45129.00 44972.00 45129.00 - 45097.00 45129.00 1

19-Jan-2011 TOLAGOLD TUE Per Tola 45235.00 45246.00 45000.00 45178.00 14 45146.00 45178.00 11

19-Jan-2011 TOLAGOLD WED Per Tola 45000.00 45194.00 44923.00 45194.00 1 45162.00 45194.00 -

19-Jan-2011 TOLAGOLD THU Per Tola 45122.00 45122.00 44939.00 45097.00 1 45064.00 45097.00 5

19-Jan-2011 TOLAGOLD FRI Per Tola 45160.00 45241.00 44956.00 45113.00 4 45080.00 45113.00 25

19-Jan-2011 IRRI6W 20JA11 Per 100 kg 3352.00 3352.00 3331.00 3331.00 - 3352.00 3331.00 -

19-Jan-2011 RICEIRRI - 6 FE11 Per 100 kg 3384.00 3384.00 3363.00 3363.00 - 3384.00 3363.00 -

19-Jan-2011 RBD PALMOLEIN FE11 Per Maund 5183.00 5183.00 5181.00 5181.00 - 5183.00 5181.00 -

19-Jan-2011 KIBOR3M 11-Mar Per Rs. 100 86.16 86.16 86.14 86.14 - 86.16 86.14 -

19-Jan-2011 KIBOR3M 11-Jun Per Rs. 100 85.35 85.39 85.35 85.39 - 85.35 85.39 -

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

Indian sugardown for4th day

MUMBAI: Indian sugar pricesextended a losing streak into thefourth day on Wednesday, ham-mered by sluggish demand amidhigher supplies from millers,dealers said.

"There was some carry forwardfrom December and quota forJanuary was also high. Millerswere struggling to sell availablesupplies for January," said AshokJain, president, Bombay SugarMerchants Association (BSMA).

In Kolhapur, a key market intop producing Maharashtra state,the most traded S-variety fell 0.51per cent to 2,722 rupees ($60) per100 kg.

At 4:30 p.m., the most-tradedM-grade sugar contract forFebruary delivery on India'sNational Commodity andDerivatives Exchange (NCDEX)was down 1.06 per cent at 2,803rupees per 100 kg, after hittingcontract low of 2,791 rupees.India's sugar output is seen at 8.4million tonnes as at Jan. 15 in thecurrent season from October, asenior government official saidreinforcing expectations of ahigher output following a goodcane harvest. -Reuters

ALLAHABAD - INDIA: A child gestures near an agricultural area at

Neemsarai village, some 20kms west of Allahabad. -Reuters

LONDON: Copper hit a recordhigh on Wednesday on boostedby a weaker dollar, but turnednegative after data showed UShousing starts fell more thanexpected and equities marketsdipped.

Benchmark copper on theLondon Metal Exchange(LME) hit a record high at$9,781 a tonne. It was untradedin LME rings and last quoted at$9,570/9,575 a tonne from aclose of $9,700 a tonne onTuesday. The previous record of$9,754 a tonne was hit on Jan 4.

The metal, used in power andconstruction, reversed after therelease of data showinggroundbreaking on new UShome construction fell morethan expected in December.Building permits soared, how-ever, providing a hint of opti-mism about future demand.

"It's a miss, but not a disas-ter," RBS Global Banking &Markets analyst Daniel Majorsaid of the housing starts.

"The strength in copper thismorning and over the past fewsessions has been a product ofrenewed dollar weakness andgeneral positive sentimenttowards the complex."

But lifting industrial metals'overall positive mood was areport that China's consumerprices rose 4.6 per cent in theyear to December, a slowdownfrom a 5.1 per cent pace inNovember, which wouldreduce the need for aggressivemonetary tightening. The offi-cial figures are due onThursday.

Copper premiums for physi-cal material in Europe softenedthis week as buying slowedahead of the Lunar New Year,but levels held near four-yearhighs and looked set to stayfirm on supply tightness con-cerns.

Inventories of copper inLondon Metal Exchange ware-houses continued to rise, up3,825 tonnes at 381,750 tonnes.

Since Dec. 9 stocks have

climbed over 32,000 tonnes,raising some concerns aboutwaning demand. But the levelsare still relatively low, downabout a third from mid-February, when copper stockshit a 6-1/2 year high.

Stocks of lead in LME ware-houses also rose, up 17,975tonnes to 261,925, their highestsince May 1995.

Lead closed at $2,531 a tonnein rings, versus Tuesday's closeat $2,623.5. Nickel was at$25,655 a tonne from $26,100.Zinc was at $2,390 a tonnefrom $2,436, tin closed at$26,900 from $26,925 and alu-minium was at $2,437 from$2,450 a tonne. -Reuters

Copper hits record,falls after US data

Cocoa hits1-mth high;sugar rises

LONDON: Cocoa futures roseto their highest in more than amonth on Wednesday, boostedby doubts about supply in topgrower Ivory Coast, technical-ly-driven buying and strengthin other commodity markets.

Sugar also rose as the dollarweakened, while coffee dippedlower as funds considered sell-ing long positions.

London March cocoa was up34 pounds or 1.7 per cent at2,044 pounds a tonne after ris-ing to 2,060 pounds, the highestlevel for the contract in morethan a month.

"I think it is a bit of a techni-cal breakout," one dealer said,noting buying interest pickedup as March broke throughresistance around 2,027 poundsa tonne.

ICE prices also advanced,with March up $46 at $3,082 atonne after touching $3,112, thehighest since Dec. 7. One deal-er said March's short-termupside target was around$3,140.

Coffee bucked the overallfirmer trend in commodity mar-kets on concern funds may lookto scale back large net long posi-tions in both ICE and Liffe, withsome selling after robusta pricesfailed to set contract highs onTuesday, dealers said. ICEMarch arabicas fell 1.55 cents or0.7 per cent to $2.3380 per lb,while March robustas eased $22or 1 per cent to $2,125 a tonne asof 1526 GMT.

On Tuesday the robusta mar-ket peaked at $2,182, just shyof its contract high of $2,185,before the run-up stalled.

Sugar also rose slightly onthe back of a strong commoditycomplex, though the marketremained rangebound as highprices and volatility curbedboth speculator interest andphysical demand, traders said.

ICE March raw sugar was up0.34 cent or 1.1 per cent at31.46 cents a lb at 1528 GMT,while London March whitesugar rose $2.30 to $782.50 pertonne. -Reuters

Tokyo,Shanghai

rubbers hitrecord highs

TOKYO: Key Tokyo andShanghai rubber futures hitrecord highs on Wednesday onlingering concerns over supplyshortages, while the outlook fordemand remained solid.

The key Tokyo CommodityExchange rubber contract forJune delivery rose as high as468.5 yen per kg before settlingat 467.4 yen, up 14 yen or 3.1per cent.

The most active Shanghai rub-ber futures contract for Maydelivery climbed as high as39,980 yuan ($6,074) per tonne,exceeding the previous peak of38,920 yuan scaled in November.The contract closed at 39,920yuan per tonne, up 1,795 yuanfrom Tuesday. Volume inched upto 772,250 lots from Tuesday's726,428 lots.

Japan's crude rubber invento-ries rose 1 per cent in the 10 daysto Jan. 10, rising for the first timein two months, Rubber TradeAssociation of Japan datashowed on Wednesday. -Reuters

LONDON: Gold rallied for athird consecutive session onWednesday, boosted by broadweakness in the dollar androbust Asian consumerdemand, while anticipation ofmore resilient global growthtook platinum to 30-monthhighs.

Providing additional support togold was data that reinforced theview that the US housing sectorcontinues to struggle, along witha 53 per cent slide in GoldmanSachs fourth-quarter earnings

that undermined equities. Strong data from Germany,

the largest euro-zone economyhelped push the euro to one-month highs against the dollar.

Market talk later in the daythat Greece may not be able torepay its debts took the edgeoff the single currency's rallyand curbed the gains across theprecious metals complex.

Spot gold was up 0.4 per centat $1,373.00 by 1608 GMT,while US gold futures were up0.4 per cent at $1,373.00.

"The broader concerns driv-ing gold prices still remainintact," said Barclays Capitalanalyst Suki Cooper.

"Given that we're now in therun-up to the Lunar holidays,we have seen some strong

physical demand materialisingin China and reports about barpremiums trading at two-yearhighs and mint shortages, sothere's good physical demandon the downside providing acushion to prices."

Gold has fallen more than 3per cent this month following a30 per cent gain last year asinvestors who had racked upgains by betting on the metalclosed their positions and fun-neled their cash into risk-linked assets such as equities

and industrial commodities.Asian buying underpinned

the market, meaning gold islikely to trade in a rangebetween $1,370 and $1,378,with a possibility of breachingthe upside, said DarrenHeathcote, head of trading atInvestec Australia.

Platinum rallied to its highestsince July 2008, taking heartfrom the strength in globalequities and other industrialcommodities. Spot platinumrose to $1,845.50 an ounce, itshighest since July 2008, beforeeasing to show a 0.8 per centgain on the day at $1,837.24.

Palladium held close to itshighest in close to ten years,rising 1.3 per cent to $821.22. -Reuters

Gold gains for 3rdday; platinum climbs

Shanghai

copper climbsShanghai copper hit its

highest in almost four years,lifted by a fall in the dollarand positive US earningsexpectations. Shanghai'sbenchmark third-month cop-per futures contract gained asmuch as 850 yuan to 72,850yuan a tonne.

NEW YORK: US cotton futuresfinished on Tuesday up the dailylimit on light investor buying asthe weak dollar and strong grainscomplex boosted fiber contractsas the market stayed within sightof its record highs, analysts said.

The cotton market was shut onMonday to honor US CivilRights leader Martin Luther KingJr. The key March cotton contracton ICE Futures US climbed the4.00 cent limit to settle at$1.4544 per lb, with the sessionlow at $1.4247. Volume tradedwas around 9,300 lots, about 50per cent below the 30-day norm,

Thomson Reuters preliminarydata showed.

Mike Stevens, an independentcotton analyst in Mandeville,Louisiana, said pressure in theUS dollar index and strength inthe grains complex boosted cot-ton. Higher grains prices wouldlikely entice more US farmers toplant soybeans and corn insteadof cotton.

The market also took note ofnews China has signed dealsworth $600 million which includ-ed cotton. Demand for cotton inChina has also apparently notslowed as imports of the fiber

continued to surge in December,a time when the price hit an all-time record of $1.5912 on Dec.21. The supply side was furtherbolstered when influential indus-try publication Cotlook reducedthe cotton crop in the centralAsian nation of Uzbekistan to4.36 million (480-lb) bales from4.36 million bales.

A Reuters survey had peggedUS 2011 cotton plantingsaround 12.4 to 12.5 millionacres (5.02-5.06 millionhectares), a five-year high andup from last year's sowings of11.04 million acres. -Reuters

US cotton limits up,outlook seen strong

Dollar pares losses from a low versus euro


Federer reacts during match at the AustralianOpen tennis tournament in Melbourne

Dhonishowerskudos on

HarbhajanCAPE TOWN: Indian captainMahendra Singh Dhoni was allpraise for Harbhajan Singh'sbatting pyrotechnics whichensured their victory in thethird ODI against SouthAfrica, and said he considersthe off-spinner an "all-round-er".

India pulled off a two-wicketthrilling win Tuesday and nowlead the five-match series 2-1.The visitors chasing a target of221 runs were 93-5 at onestage but Yusuf Pathan scoreda smashing 59 and Harbhajanchipped in with 23 after thefall of Pathan to guide the teamhome.

"Harbhajan is an all-rounderfor us, though we do not putthe pressure on him by callinghim one. He has been bowlingvery well, taking the momen-tum away from the SouthAfricans," Dhoni said.

Harbhajan has been a revela-tion with the bat, off late. Hestruck two successive Testcenturies against NewZealand, which came at crucialtimes.

On Yusuf Pathan, Dhoni saidhe expected the elder of thePathan brothers from Baroda -Irfan is Yusuf's younger broth-er - to play his natural game.

"We just told the youngstersto play their natural game, wewant Yusuf to play the sort ofgame he plays."

The captain gave out the rea-sons for the side's second suc-cessive victory after sufferinga heavy loss in the openinggame in Durban.

"We have been outstandingso far, ground fielding has alsoimproved a bit. Our catchinghas been decently good."

"It was a very good effortfrom the lower middle order.We also did well in the deathbowling and powerplays."-Agencies

Monitoring Desk

CAPE TOWN: South Africaput faith in Jacques Kallisreturning from injury to boostits World Cup hopes after thekey allrounder was includedin the Proteas' 15-man squadon Tuesday.

The 35-year-old Kallis wasruled out of the ongoing one-day series against India with aright side muscle injury, butSouth Africa's team manage-ment said at the squadannouncement in Cape Townit was confident its leadingplayer would be fully fit for

the Feb. 19-April 2 tourna-ment.

Kallis was part of the SouthAfrica squad named by selec-tion convener AndrewHudson following the Proteas'two-wicket loss to India in thethird one-dayer at Newlands.

Also included for nextmonth's World Cup in India,Bangladesh and Sri Lankawas Pakistan-born legspinnerImran Tahir and batting all-rounder Faf du Plessis - whomade a half-century on debutin Tuesday's defeat to WorldCup co-host India.

Graeme Smith will captain

the squad for the final time ina one-day competition afterannouncing he would stepdown from the ODI captaincyafter the World Cup.

Regular batsmen HashimAmla, A.B. de Villiers andJ.P. Duminy and fast bowlersDale Steyn, Morne Morkeland Lonwabo Tsotsobe wereall picked as were spinnersJohan Botha and RobinPeterson - giving the No. 4ranked Proteas three special-ist spinning options - alongwith Tahir - on the spin-friendly pitches in the sub-continent.

SA pick injuredKallis, Tahir for WC

WELLINGTON: DanielVettori confirmed he would bestepping down from the cap-taincy after the World Cup,making the second Test at theBasin Reserve his last at thehelm.

Vettori has captained the sidein 32 Tests since he took overfrom Stephen Fleming in 2007,and sits third on the list of mostTests captained for NewZealand, behind Fleming (80)and John Reid (34).

Vettori said that the plan hadalways been to step down afterthe World Cup and that nothinghad occurred to convince himto extend his tenure as skipper."I made that decision three anda half years ago," Vettori said."So that's it. My timing was

always to finish after the WorldCup and that stays the same."

Vettori's stint has been a dis-appointing one for NewZealand, as his captaincy coin-cided with a significant dip inform for the Test team. Underhim, New Zealand have wononly six Tests in three years,with four of those wins comingagainst Bangladesh. They havelost eighteen Tests and drawnthirteen, with nine series lossesout of thirteen.

Throughout his captaincy,Vettori has been New Zealand'smost consistent performer withthe ball, taking 116 wickets atan average of 33.38, ahead ofChris Martin's 93 scalps at35.08. He has also been rou-tinely called upon to provide

stability to New Zealand's bat-ting from the lower order. He'shit four centuries and ninefifties as captain and his aggre-gate since taking over - 1917runs - stands behind only RossTaylor's and BrendonMcCullum's during the sameperiod. For much of his cap-taincy, Vettori has been NewZealand's talisman. A tirelessworkhorse with the ball, and acourageous fighter with bat inhand.

"There are always regrets,you always want to performbetter," Vettori said. "But Ican walk away from thecaptaincy thinking that Igave it everything, particu-larly with my perform-ance."-Reuters

Vettori stepsdown as captain

Monitoring Desk

NEW DEHLI: West Indiesbatting legend Brian Larapicked India as favourites towin the World Cup startingnext month but warned theywould face enormous pressureplaying before home crowds.

Lara, 41, said MS Dhoni’smen have been in top form inboth Tests and One-DayInternationals leading up theshowpiece event, which willbe hosted by India,Bangladesh and Sri Lanka.

“With the World Cup inAsia, India are definitely thefavourites,” the former WestIndies captain told reportersafter conducting a coachingclinic for youngsters at theFiroz Shah Kotla stadium inNew Delhi.

“India have been on the topof their game, they will be avery tough team to beat. Theyhave a well-balanced teamthat can compete with anyonein the world, but playingbefore home crowds will notbe easy.”

Brian Lara tipsIndia to winWorld Cup

WELLINGTON: Pakistancaptain Misbah-ul-haq ledfrom the front, scoring hissecond half century of thematch, to ensure his side bat-ted out the final day to drawthe second Test against NewZealand on Wednesday andclaim their first series victorysince 2006.

Misbah finished the day on70 not out, following on fromhis 99 in the first innings, asPakistan reached 226 for fiveat the close of play, 48 runsshort of their victory target of274.

Adnan Akmal was two notout as the visitors claimedtheir first series win sincethey beat the West Indies 2-0at home five years ago.

Misbah had shared in an118-run stand with YounisKhan (81) -- their second cen-tury-stand of the match --after New Zealand had threat-ened to spoil the visitors' daywhen they reduced them to42-3 in the first session.

Chris Martin was particu-larly aggressive in the firstsession, taking 2-24 off nineovers and had the Pakistanibatsmen frantically trying tosee him off. New zealand cap-tain Daniel Vettori also pro-vided some concerningmoments for the visitors,introducing himself in theeighth over and gettingbounce from the harder balland some turn out of the foot-marks.

Misbah and Younis, howev-er, slowly but assuredlyground down the attack and

for long periods during thesession between lunch and tealooked to have given up anypretence of chasing down thetarget before they slowlybegan to increase the scoringrate.

New Zealand were giventhe slightest hope of a finalsession victory when Youniswas caught by Reece Youngoff Tim Southee in the finalover before tea.

Misbah, who faced 172balls and hit his fifth bound-ary to bring up his 50 after255 minutes at the crease, andAsad Shafiq, however, con-tinued to combine stoicdefence and flirting with thepossibility of launching afrantic final assault.

In the final hour, Vettoritrapped Shafiq in front for 24to leave Pakistan 215-5 andwhile the New Zealandbowlers attempted to rattlethem with several vociferousappeals, Akmal and Misbahnegotiated their way throughuntil the close.

Chairman PCB Ijaz Butt hasalso congratulated thePakistan Team on their victo-ry in the Test series againstNew Zealand.

According to PCB MediaDepartment, Pakistan securedtheir first Test series win afterfour years when the secondTest match at Wellingtonended in a draw.

The team had won the firsttest at Hamilton by ten wick-ets under vibrant Pakistancaptain Misbah-ul-haq.-Online-Online

Pakistan winseries vs NZwith a draw

LONDON: The return of MattPrior is the major surprise inEngland's 15-man World Cupsquad after he was preferred toSteve Davies for the wicket-keeper's role. Davies was theoriginal glove man in the one-day squad against Australia,but won't be travelling to thesubcontinent as England makeanother change behind thestumps.

The rest of the squad was asexpected with Ajmal Shahzadsecuring the final fast bowler'sslot and James Tredwell, theKent offspinner, named asback up for Graeme Swannand Michael Yardy. PaulCollingwood was includeddespite his recent omissionagainst Australia, Luke Wrightretained his spot as the spareallrounder and Stuart Broad ison track to recover from thestomach injury that kept him

out since the second AshesTest in Adelaide.

The last-minute switch toPrior was unexpected andmeant England changed theirone-day wicketkeeper for thethird time in less than a year.Prior last played againstBangladesh, in Chittagong, inMarch where he batted in themiddle order before beingreplaced by Craig Kieswetter,who held the position until theseries against Pakistan inSeptember, when Daviesearned a chance.

Davies scored 197 runs infive matches against Pakistanand when he was retained forthe current series againstAustralia he appeared set forthe World Cup. He made 42 inthe opening ODI in Melbournebut it was a scratchy inningswhich included four let-offs.The selectors were not con-

vinced he was the right manfor the subcontinent so Prior,who has been playing in theBig Bash for Victoria since theend of the Ashes, gets anotherchance at the top of the order.He will link up with the squadin Hobart ahead of the secondODI, where he will open withAndrew Strauss.

"Matt Prior returns to theEngland ODI squad after abrief absence and given hisrecent form and his battingstyle, which is very well suitedto the subcontinent conditions,we believe his inclusion iswarranted," Geoff Miller, thenational selector, said."Despite some strong perform-ances both with the bat andbehind the stumps by StevenDavies, we feel that Matt'sgame will be better suited tothe conditions in Bangladeshand India, the venues staging

England's group matches." Prior has played 55 one-day

internationals and averages25.38 with a strike-rate of74.80, while his record inIndia, where England will playfive of their six group match-es, is unflattering with 158runs in 11 matches at an aver-age of 17.55. However, he didfinish the Ashes series instrong form with 85 inMelbourne and 118 in Sydney,and has since hit 51 off 29balls for Victoria on his BigBash debut against Tasmania.

Prior is guaranteed his placein the starting XI but the samecan't be said of Collingwoodafter he was dropped for theopening match againstAustralia so he could "clearhis mind". He is expected to begiven some match timetowards the end of the one-dayseries and has been backed to

be a key part of the WorldCup.

"Paul Collingwood may nothave scored as many runs ashe would have liked so far onthe tour of Australia but he hasbeen a consistently strong per-former for England in limited-overs cricket for a long periodof time," Miller said. "Hisexperience, ODI knowledgeand skills across all threefacets of the game make him avaluable member of the squadand he'll be looking to make abig impact at another globalevent."

Miller was also confident thesquad had the depth to copewith all the challenges thatwill be put forward during thetournament. "With spinbowlers set to play a promi-nent role in this World Cup wefeel we have quality and depthin Graeme Swann, Michael

Yardy and James Tredwellwho have all shown their capa-bilities at international level,"he said.

"We believe we have select-ed an extremely excitingWorld Cup squad that offersbalance with several optionsacross the entire squad. Withthis tournament being stagedon the subcontinent the condi-tions will require a specificstyle of cricket and we feelthat we've selected a squadthat can prosper in these con-ditions."

Squad Andrew Strauss(capt), James Anderson, IanBell, Tim Bresnan, StuartBroad, Paul Collingwood,Eoin Morgan, Kevin Pietersen,Matt Prior, Ajmal Shahzad,Graeme Swann, JamesTredwell, Jonathan Trott, LukeWright, Michael Yardy.-Online

Eng choose Matt Prior over Steve Davies

Federeredges

Simon in5-set thrillerMELBOURNE: Defendingchampion Roger Federer sur-vived a five-set thriller toovercome Frenchman GillesSimon and squeeze into thethird round at the AustralianOpen on Wednesday.

Federer had to pull out allstops to get past the unseededSimon, winning 6-2, 6-3, 4-6,4-6, 6-3 in 3hr 13min on RodLaver Arena.

The Swiss world numbertwo had cruised to a two-setadvantage, but Simon, whohad won their only other twoencounters, hit back spectacu-larly to take the contest into afifth and deciding set.

Federer was relieved toescape with a five-set victoryand prevent losing for the firsttime in the second round at aGrand Slam event since the2003 French Open.

"Today I got lucky to gothrough," Federer said.

"He's a great player. Matchesagainst him don't come easyand they always go the dis-tance. Hopefully I won't playhim any more," he laughed.

Federer will next playBelgium's Xavier Malisse inFriday's third round.

Federer's victory equalledSwede Stefan Edberg's record(56-10) for the most Open Erawins at the Australian Open.Federer now has a 56-7 win-loss record at Melbourne Park.

The all-time Grand Slamchampion with 16 major titlesis bidding to become the sec-ond man to win five Australiantitles behind six-time winnerRoy Emerson.-Agencies

WELLINGTON: Pakistan celebrates their win during day five of the Second Test matchbetween the New Zealand Blackcaps and Pakistan at Basin Reserve .-Reuters

Butt congratulates Team on win

Pakistan win first test series in 4 years

Nadal ownsup a win;Clijsters

off to flierMELBOURNE: Top-seedRafael Nadal was handed aneasy win at the AustralianOpen and Kim Clijsters humil-iated Dinara Safina 6-0, 6-0while former number one AnaIvanovic was another high-pro-file casualty.

Nadal was leading 6-0, 5-0when Brazilian journeymanMarcos Daniel threw in thetowel after being troubled by aleft knee problem. AndyMurray went through in similarcircumstances when Slovakia’sKarol Beck retired with ashoulder problem while trailing6-3, 6-1, 4-2 during an action-packed day two.

Nadal will play US qualifierRyan Sweeting next as he tar-gets the “Rafa Slam” — thefirst time one man has held allfour major titles since RodLaver in 1969. The Spaniard’sheart went out to Daniel. “It’s aterrible feeling to pull out of amatch with an injury and I wishhim all the best and a fastrecovery,” said Nadal.

Swedish fourth-seed RobinSoderling beat Italy’s PotitoStarace 6-4, 6-2, 6-2 in straightsets.

Clijsters steamrolled the dis-traught Safina in just 44 min-utes for her fourth white washat the tournament, but the firstagainst an illustrious opposi-tion. Injury-hit Safina, a formerworld number one, was a beat-en finalist just two years agoand she was again inconsolableas she left Rod Laver Arena,burying her head in her handsas she faced the media.-Reuters


International & Continuation

CONTINUATION

Germanylifts 2011growth

forecast to2.3 pct

BERLIN: Germany raised its2011 growth forecast by half aper centage point to 2.3 percent on Wednesday, predictingthe recovery in Europe's pow-erhouse will broaden and thatpreviously sluggish domesticdemand will pick up.

The Economy Ministry'sforecast was slightly below aReuters poll forecast onWednesday for a 2.5 per centexpansion in 2011, thoughsome economists expectgrowth to be almost as strongas last year's 3.6 per cent.

"The German pick-up is extralarge. Now we have to makesure it's extra long," EconomyMinister Rainer Bruederle tolda news conference. "The timeof nerve wracking stop-and-gois over. Now we can put ourfoot on the accelerator."

Germany's rebound from itssharpest post-war recession hasbeen surprisingly strong, mark-ing its fastest growth last yearsince reunification and leavingeuro zone peers trailing.

Recent bullish data has bol-stered expectations Germany'sstrong run will continue, whileeuro zone nations like Ireland,Greece and Portugal are beingheld back as they struggle witha sovereign debt crisis.

The ZEW think tank's gaugeof German investor sentimentthis month surged past expecta-tions, reflecting confidence theindustrial sector will createjobs and spur investment.

As economic recovery hasboosted the labour market, thegovernment predicts the unem-ployment rate will fall to 7.0per cent this year from an aver-age of 7.7 per cent last year.-Reuters

W A S H I N G T O N :Groundbreaking on new UShome construction fell morethan expected in December toits lowest in over a year, sug-gesting the battered housingsector remains a major road-block to economic recovery.

US housing starts dropped toan annual rate of 529,000 units,the Commerce Department saidon Wednesday, down fromNovember's 553,000 and wellbelow forecasts around 550,000in a Reuters poll. At current lev-els, starts account for less than aquarter of their boom-timepeaks.

At the same time, buildingpermits soared, a hint of opti-

mism about future demand.Permits jumped 16.7 per cent to635,000, far above a medianforecast of 560,000 and thebiggest jump since June 2008.

However, changes to statebuilding codes set to take effectin January may have boostedpermits in California,Pennsylvania and New York inDecember, the report said. Forexample, permits surged 80.6per cent in the Northeast lastmonth.

Financial markets had a mutedreaction to the figures, thoughgold prices did hit a session highfollowing their release.

Jennifer Lee, senior econo-mist at BMO Capital Markets in

Toronto, called the housingreport "very disappointing."

"Some builders went ahead inDecember with projects to beatthe change (in building codes),so that is reflected in the head-line," she said. "Look for a bigretracement in January permits,which in turn, is not good newsfor starts."

Housing was at the epicenterof the worst financial crisis ingenerations, which began whenbanks started to take a hit fromrising defaults in the mortgagesector in the summer of 2007.Real estate continues to beplagued by foreclosures, whichtopped 1 million for the firsttime ever during 2010.-Reuters

US housing starts low-est since late 2009

TOKYO: Japan's economy isexpected to escape from a lullby March or at least during thefirst half of this year, the Bankof Japan's top economist said, ina sign the central bank is turn-ing more confident about theprospects of an early return tomoderate recovery.

Economic growth may havecontracted in the final quarter oflast year but that was likely atemporary dip with some brightsigns seen in exports, outputand private consumption, saidKazuo Momma, the head of theBOJ's research and statisticsdepartment.

"There are various factors thatcould destabilise the global

economy which, throughexchange-rate and other marketmoves, could affect theJapanese economy. But the out-look for this year is positive," hetold a seminar on Wednesday.

His comments echo those bysome regional BOJ branchmanagers who signalled onMonday that an end to a lull inthe economy was in sight.

Private economists are divid-ed on exactly when Japan willpull out of the doldrums, withMomma's view leaning towardsthe side of the optimists.

"I don't see Momma's view astoo optimistic or out of linegiven robust overseas growthand prospects for a recovery in

factory output," said NaokiIizuka, senior economist atMizuho Securities. SHIRAKAWA BRIEFS KAN

The BOJ is expected to tweakits growth forecasts slightlynext week while keeping mone-tary policy on hold and stickingto its view that firm demand inAsia will pull the economy outof stagnation in a few months.

Momma projected thatJapan's economy would expandmore than 3 per cent in the yearending in March and grow any-where between 1 and 2 per centthe following year. That isroughly in line with estimatesby private sector analysts.-Reuters

BOJ says Japannear end of lull,

upbeat on economy

WASHINGTON: US PresidentBarack Obama and ChinesePresident Hu Jintao vowed onWednesday to work to find com-mon ground as the two countriesannounced $45 billion in exportdeals.

After a year of strains, theleaders of the world's only super-power and its fastest-rising rivalopened a Washington summitthat put the focus on oftendiverging agendas on currencies,trade, global security and humanrights.

Welcoming Hu to the WhiteHouse amid the pomp of a for-mal state visit, Obama hailed theevent as a chance to demonstrate

that "we have an enormous stakein each other's success."

Seeking to show the benefitsof economic ties, the two coun-tries reached agreement onexport deals worth $45 billion,including China's purchase of200 Boeing <BA.N> aircraft, asenior US official said shortlyafter talks began.

"Even as our nations competein some areas, we can cooperatein others," Obama said. "Let usseize these possibilities togeth-er."

Gently raising China's humanrights record, he said: "Historyshows that societies are moreharmonious, nations are success-

ful and the world is more justwhen the rights and responsibili-ties of all nations and all peopleare upheld, including the univer-sal rights of every human being."

Hu said he had come to"enhance mutual trust" and opena new chapter in relations butsignaled he would bristle at anyeffort to push China on its cur-rency practices, human rightsand other disputes that it deemsto be domestic matters.

"China and the United Statesmust respect each other's choicesin development and each other'schoices in development pathsand each other's core interests,"Hu said.-Reuters

Obama, Hu vowcooperation, strike

$45 bln deals

ordered to take absolute bed-rest when at home for at least sev-eral days." The physician cited in the report said: "After the oper-ation, there seemed to be some brain damage with Mullah Omarhaving slurred speech."

"Three-four days in hospital is consistent with cardiac catheter-ization and or cardiac stent placement. Bed rest and aphasia (dif-ficulty speaking) post-catheterisation could be from a bleedingcomplication." It also said the ISI was keeping the Quetta Shura"informed" about Omar's recovery at "an ISI 'guest house' inKarachi under ISI guard", the Post said. An US official fromKabul said: "No one on this end has heard this." But he quicklyadded that "it doesn't mean it's not true -- we just have no infor-mation to confirm or dispute these facts". -Online

Continued from page 12No #1

that has been in place for days, saying the security situation hadimproved, but a state of emergency that bans any public assem-blies remained in place. Interim president Foued Mebazaa andPrime Minister Mohammed Ghannouchi on Tuesday quit theRCD, which has dominated Tunisian politics for decades.

"Let's not throw the baby out with the bath water," Tunisia's LeQuotidien daily commented in an editorial that emphasised thenew national unity government was temporary and would preparefor democratic elections. "The resentment is legitimate but itshould not transform itself into a blind hatred that blocks the vic-torious march of the Tunisian people towards liberty," said theindependent daily. "The creation of a national unity government isthe only path towards this final victory. The participation of theRCD in this government should not be a source of discord or astumbling block," it said. Thousands protested across Tunisia onTuesday, with police firing tear gas in the centre of Tunis to dis-perse demonstrations as four ministers pulled out of the govern-ment in protest against the RCD just a day after it was announced.

In an apparent bid for political survival, the once all-powerfulRCD also officially expelled Ben Ali, who was forced to resignfollowing a wave of protests in which dozens of people werekilled. The tumultuous events in Tunisia -- dubbed the "JasmineRevolution" -- have inspired dissident across the Arab world andsparked protests in various countries including Algeria, Egypt,Jordan and Egypt. Ben Ali was the first Arab leader in recent his-tory to quit after protests. The United States meanwhile welcomedreforms announced by the new government, including media free-doms and the liberation of all political prisoners, but said politicalchange must broaden and deepen.-Agencies


Members committee asked Defense Ministry to ensure the trans-parent investigations and submit the report in the next committeemeeting. Committee also stressed the Ministry of Defense to boundprivate airlines in the National Civil Aviation Policy 2011 to start incountry nonprofit routes as well, beside the profitable routes.Defense Secretary Athar Ali told the committee while briefing onNCAP 2011 that Pakistan owns 44 airports, out of which only fourairports are permitted to conduct international flight operations. Hefurther told that Federal Defense Minister Ch. Ahmed Mukhtar hasapproved the new policy whereas for final approval, it will be pre-sented in cabinet meeting. Chairman committee directed the min-istry to include the recommendation made by the senate in new pol-icy. Committee expressed its anger upon abolishing the fine ofRs0.5 million on noncompliance with in country non-profitableflight routes. Secretary Defense told the committee that in new pol-icy, regulations have further been tightened. Ministry officialsbriefed the committee on Benazir and Gwadar InternationalAirports where committee directed to write the BalochistanGovernment for not giving the possession of Gwadar InternationalAirport to CAA despite making all payments. -Online


Pakistan including 24 ambulances and other medical equipment.General Volker Wieker lauded the role and sacrifices of Pakistan againstthe war on terror, saying that Pakistan was a key ally and its role was ofvital importance to bring peace and stability in the region. -Online


explosives-filled car in the midst of a crowd of Shiite pil-grims, killing two and wounding 16 other people, an official inthe provincial security command said. Among the woundedwere Diyala deputy governor Sadiq al-Husseini and three ofhis bodyguards, and two media employees of local satellitechannel Diyala TV. "I was in the procession tent when a VIParrived with several cars and guards around him," said ZaidEssam, one of the wounded pilgrims, speaking from Baqubahospital. "When he came close to the tent, an unmarked carsuddenly came from the opposite side, trying to enter the tentto target him. But, because there were several obstacles pro-tecting the tent, the car exploded outside and everything wasthrown into the air."-Agencies


"We want a competition where nobody's got their thumb or fist onthe scale," she said. Last week, Treasury Secretary TimothyGeithner said that if Beijing wants more investment opportunities inthe US and access to high technology products, it also must allow amore level playing field for US companies in China. -Agencies


The rejig saw no major change in the key ministries of finance,home, defence and foreign affairs, a government statementshowed on Wednesday after the stock market closed. Foreignfunds have been sellers of Indian shares in nine of the 12 initialsessions of 2010, pulling out a net of around $710 million. Themain index is down 7.5 per cent year-to-date. Brazil's Bovespaand Russia's RTS index have gained 2.3 per cent and 7.6 per centyear-to-date, while China's Shanghai Composite Index has shed1.8 per cent. On Wednesday, gainers almost matched the numberof losers in the broader market in low volume of 329 millionshares. Tata Steel gained 1.2 per cent after the world's seventh-largest steel maker raised $112 million from anchor investors atthe upper end of an indicated price range ahead of a public shareoffering. Financials mostly declined with the central bank expect-ed to unveil a hawkish monetary policy next Tuesday, in an effortto tame spiralling inflation. Top lender State Bank of India andprivate-sector lender HDFC Bank dropped 1.9 per cent and 1.5per cent, respectively. Mortgage lender Housing DevelopmentFinance Corp eased 0.7 per cent.-Reuters


development requires long term projects and if development projects had been initiated before we cameinto power than today we would not have been facing gas and power crisis. He said our govt has initiatedmany development projects in all sectors including new projects for production of gas and power howev-er their completion would take some time. PM said due to rising population and establishment of new citiesthe gap between demand and supply of power and gas is increasing due to which short fall has occurred.He said in order to sort out all these problems we have started dialogue process with all the political par-ties and we would implement their suggestions and output. He said that besides deteriorating economy weare also facing the menace of terrorism. We have consulted all opposition parties on this matter as well andhave sent a clear message to the world that Pakistan has given the most sacrifices in the war on terror andalso bore damages of terrorism. He said no compromise would be made on national security.


Resources in a meeting held on Wednesday. The meeting was presided over by Sheikh WaqasAkram, MNA-Chairman Standing Committee. To a question, regarding circular debt of PSO, MDapprised that the chas been paying interest of Rs37 million per day to the banks over the circular debt.The Committee directed to the Ministry of Petroleum and Natural Resource to approach the Ministryof Finance for helping out PSO over the issue of circular debt. While giving presentation to the com-mittee, GM Mari Gas Company Limited apprised that MGCL is a private sector public limited com-pany and is listed on all stock exchanges of the country. The Committee was also briefed by theManagement of the Pakistan Mineral Development Corporation (PMDC) over its performance. -APP


this regard. The report said that more than 8000 Nato-oil tankers are missing from all over thecountry and the goods have been sold. The police have seized the goods including weapons and sen-sitive goods. The police have filed case against the traders those were selling these goods. -Online


Talking to media, Nabeel Gabol said the police raided my house in a fashion similar to that of acommando action. "Raids are being conducted in a bid to take me into custody," he added.

However, CCPO Karachi Fayyaz Leghari has denied Nabeel Gabol's claim of a police raid on thelatter's house, saying no such raid was conducted.


of between 3.7 and 3.8 million tonnes and millers say that with the imported stocks of roughly400,000 tonnes there should be enough to meet domestic demand. Pakistan consumes about 4.2 mil-lion tonnes sugar a year. "The country has sufficient stocks to meet demand and there is no need toimport sugar at this stage," Javed Kayani, chairman Pakistan Sugar Mills Association (PSMA) toldReuters. "The government should not allow sugar imports from India, which has surplus sugar andwants to dump it in the Pakistani market," he said.-Reuters


foreign policy. Briefing the journalists after the meeting with the government team, PML PresidentChaudhry Shujaat Hussain said that government could implement this plan within days withoutspending even a single penny from the national kitty. "Our agenda is purely on technical basis andrising above the party-lines, we have suggested the government a comprehensive strategy to tacklethe economic crisis. If the capital flight from the country is plugged and all money invested or keptin foreign banks is recovered, the country would have no need to seek loans from the IMF or WorldBank," he asserted. He also asked the Federal Board of Revenue (FBR) to publish all lists of thosepoliticians and their family members who had got their loans written-off. He also said his party wasthe only opposition party and it would be the last political outfit to join the government.

He said meetings with the government delegations should not be taken as his party was going tojoin the treasury benches and rather consultation process was being adopted for a national cause.Giving outlines of his party's agenda, PML Secretary General Mushahid Hussain Sayed warned theruling party of a Tunis-like public rebellion if the matters were not redressed immediately.-Agencies


fish and fish preparation export surged 35.2 per cent and spices by 15.3 per cent over the sameperiod last year.


from any part of the country so far. There are reports regarding tsunami in Indian Ocean as well.He said in October 2005 a 7.6-magnitude earthquake struck the country and killed more than

73,000 people, mainly in Kashmir and parts of the country's northwest Khyber Pakhtunkhwaprovince. According to a private news channel report, a heart patient woman died on experiencingthe quake tremors in Quetta. Another woman was killed when a quake-shaken wall collapsed on herin Garhi Khairo.


Committee (PAC) has directed Federal Board of Revenue (FBR) to make tax recovery systemfriendly besides gearing up the pace of recovery and presenting the report to committee on this countwithin a month. Committee met here Wednesday under member of committee Zahid Hamid in theabsence of Chaudhry Nisar Ali Khan. Committee directed FBR to expedite the recovery process andnot to give any such impression that PAC was opposed to any commercial activity. -Agencies


Nawabshah, Hyderabad, Quetta, Naseerabad, Kharan, Lahore, Sargodha, and Dera Ghazi Khan,he added. He said there are no initial reports of damage or casualties from any part of the countryso far. There are reports regarding tsunami in Indian Ocean as well. He said in October 2005 a 7.6-magnitude earthquake struck the country and killed more than 73,000 people, mainly in Kashmirand parts of the country's northwest Khyber Pakhtunkhwa province. According to a private newschannel report, a heart patient woman died on experiencing the quake tremors in Quetta. Anotherwoman was killed when a quake-shaken wall collapsed on her in Garhi Khairo.


ballooned by 368 per cent, palm oil by 60.6 per cent, spices 52.4 per cent and soyabean oil 6.8times, while wheat un-milled import bill decreased 97.8 per cent mainly due to ample wheat stockavailable. Furthermore, textile group import bill increased 67.7 per cent to $1.24 billion against$742 million over the previous year's same period. The major hike in this sector witnessed from rawcotton and synthetic fiber which swell by 78.9 per cent and 47.4 per cent respectively.


existing 7600 barrels per day to more than 9100bpd.The notable increase in oil production is witnessed from Manzalai-CPF which is now producing

7500bpd versus last week production of 6000bpd. Similarly, gas production from Tal block hassurged from 310mmcfd to 345mmcfd. This was also contributed by Manzalai-CPF whose gas pro-duction increased from 288mmcfd to 323mmcfd.

As per research analyst of Topline Securities, higher production from Manzalai (in Tal block) isprimarily due to commissioning of Maramzai, the second last discovery in Tal block which initiallytested to produce approx. 800bpd of oil. Moreover, oil production numbers from Maramzai (also inTal block) has also improved. Thus, total oil production from Tal block including Manzalai,Mamikhel, Maramzai and Makori has crossed 9100bpd, he added. Similarly gas production from Talblock has increased from 300mmcfd to 340mmcfd primarily led by Maramzai factor. Maramzai wasinitially tested to produce 20mmcfd of gas.


Villalta said he was still bullish on financials for 2011, how-ever, noting the sector's recent gains. Financials have beenamong market leaders in the recent rally, with the S&P 500 up12.7 per cent since the start of the fourth quarter. Data fromThomson Reuters StarMine last Friday suggested most bankswould missing earnings expectations, and Reuters QuantitativeAnalyst Mike Tarsala cited weak trading revenues among fac-tors hampering results. Hurting the Dow were shares ofAmerican Express Co, down 2.7 per cent at $45.14. The com-pany said restructuring charges, related to closing down somelocations in its global servicing network, would reduce fourth-quarter earnings. -Reuters


Thursday. Groundbreaking on new US home construction fellmore than expected in December to its lowest in over a year,suggesting the battered housing sector remains a major road-block to economic recovery. "There's a bit of a dance going on,the indexes go up and hit new highs and then pull back as nerv-ousness creeps in," said Karen Olney, head of thematic strategyat UBS. Retailers such as Marks & Spencer , Next and MorrisonSupermarkets fell as much as 2.3 per cent after investors' con-fidence was dented in the sector following updates from Kesaand HMV. Europe third largest electricals retailer, FTSE 250 -listed Kesa, shed 9.8 per cent after warning on full-year profits,while small cap HMV slid 2.9 per cent on worries over its futureas credit insurers reduced the cover they are prepared to give tosuppliers of the music and book retailer.

Morrison Supermarkets was also weighed on by a MorganStanley downgrade to "underweight".-Reuters


12,563 points (-ve 94 points). Further, experts also said that uncertainty regarding the upcomingmonetary policy too was the factor that kept the locals on the selling side.There are fears that the StateBank of Pakistan in its monetary policy on 29th Jan may increase the key discount rate due to higherinflation and excessive government borrowing. It is worth mentioning that in its last monetary policyannounced in November 2010 central bank raised the key interest rates by 50 bps to 14 per cent.


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ISLAMABAD: PML-NQuaid Mian Nawaz Sharifhas said no project can becompleted without timeframe, adding if time limit isfixed for construction of abuilding then why it cannotbe done so to achieve impor-tant national objectives.

Mian Nawaz Sharif waspresiding over high-levelmeeting of party hereWednesday.

A 4-member committeewhich presented 10-pointagenda to the government onbehalf of party briefed partyQuaid and other leadersabout the details of the jointmeeting held with the com-mittee set up by the federalgovernment under finance

minister.Meeting was attended by

Raja Zafar-ul Haq, IqbalZafar Jhagra, Chaudhry NisarAli Khan, Ishaq Dar, SardarMehtab Ahmad Khan,Khawaja Muhammad Asif,Ahsan Iqbal, Khawaja SaadRafiq, Pervez Rashid andothers.

Mian Nawaz Sharif urgedthe participants of the meet-ing to abandon all theirengagements to ensure mate-rialisation of national agenda.

PML-N had raised voice forimplementation of agenda inthe national interest and notfor the sake of personal orpolitical gains, he main-tained. Pakistan was facingunusual situation therefore,

every work would have to bedone on war footing, heunderlined.

A delay could aggravate theproblems rather than resolv-ing them, he observed.

Prime Minister SyedYousuf Raza Gilani may havenodded yes for implementa-tion of agenda after due con-sideration, he said, adding wewill change the despair intohope through realisation ofagenda within 45 days.

Mian Nawaz Sharif reachedIslamabad from Lahore forgetting awareness on theprogress made during thetalks between PML-N teamand government team and forconsultation towards evolv-ing future strategy. -Agencies

Sharif urgesgame plan for

national growth

WASHINGTON: PresidentBarack Obama is lavishing thegrandest of White House wel-comes on Chinese President HuJintao as the leaders of theworld's two top powers try tofind common ground on eco-nomic and security issues with-out alienating their domesticaudiences.

With many Americans blam-ing China at least in part for thehigh US unemployment rate,both presidents will be lookingto build trust in a relationshipgrounded in mutual interest buttroubled by intractable disputes.

It follows an up and down twoyears in which an assertiveChina initially cold-shoulderedthe US on climate change, didlittle to reel in its unpredictableally North Korea and respondedlimply to US pleas to mitigatetrade imbalances. For its part,the US riled China by sellingarms to Taiwan and invitingTibet's spiritual leader, the DalaiLama, to the White House.

Both sides are now setting amore positive tone.

Hu was welcomed on arrivalat Andrews Air Force Base byVice President Joe Biden and

then attended the first of twodinners Obama is hosting forhim during his four-day US stay.

After talks Wednesday, the twoleaders will hold a joint newsconference - just four questionsallowed. They are expected toannounce an agreement to estab-lish a jointly financed nuclearsecurity center in China.

"Overcoming the sense ofmistrust is probably the mostimportant thing," said CharlesFreeman, a China expert at theCenter for the Strategic andInternational Studies, aWashington-based think tank.

Hu's visit comes as the politicaltrajectory has shifted for bothnations.

China's success in weatheringthe global economic crisis coin-cided with an increasing confi-dence - critics would say brash-ness - on the world stage andworries among its neighbors inAsia over its growing militaryclout. Ultimately, that distrusthas benefited the US, as nationssuch as Japan, South Korea andeven Vietnam have looked tocement stronger ties with theUS as a regional power.

The US economy has shown

signs of recovery and Obamaalso has rebounded from his ownpolitical problems, notably theloss of one house of Congress tothe Republican Party inNovember midterm elections.

A nuclear arms reductiontreaty he orchestrated withRussia was approved, and hehas been lauded for a touchstonespeech in the aftermath of theshooting massacre in Arizona.His previously stellar poll rat-ings have begun to recover aftermonths in the doldrums.

That shift in fortunes isunlikely to translate into major

concessions from Hu, butObama may encounter a moreamenable Chinese leader, whowill be looking to burnishChina's image in the US and hisown standing before he stepsdown in 2012.

China now holds the world'slargest foreign currency reservesat $2.85 trillion and a majorchunk of US government debt.Economists predict it couldbecome the world's largest econ-omy, eclipsing the US, within 20years if not sooner.

But perceived diplomaticmissteps and reports that Hu

was unaware when he met thismonth with Defense SecretaryRobert Gates about a test flightof China's new stealth fighterhave raised questions over hiscontrol of the military.

The Obama administrationremains leery of steps thatwould infuriate China, favoringpersuasion instead.

Secretary of State HillaryRodman Clinton, interviewedWednesday on ABC's "GoodMorning America," said a princi-pal aim of this week's talks is tolevel the playing field on trade.

See # 6 Page 11

Giants in search of common groundChinese President Jintao reaches Washington, meets Vice President, business leaders

TUNIS: Hundreds of Tunisiansrallied against their new gov-ernment on Wednesday, as theleadership tried to defuse pub-lic anger over the continuedpower of the former rulingparty.

"Ben Ali has gone to SaudiArabia, the government shouldgo there too," more than 1000protesters chanted in centralTunis, referring to former pres-ident Zine El Abidine Ben Aliwho fled on Friday after 23

years of iron-fisted rule."We want a new parliament, a

new constitution, a new repub-lic. People rise up against theBen Ali loyalists!" they chantedat the peaceful demonstration.

Some of them waved plac-ards reading: "Down with theRCD!"

An opposition leader who hasjoined the government asregional development ministertold foreign media that the firstcabinet meeting would be held

Thursday (today) but a govern-ment spokesman said the exactdate was still up in the air.

An opposition source said thepriorities at the cabinet meetingwould be to draw up a nationalamnesty law for victims of theformer regime, as well as con-crete moves to break up theRCD's stranglehold on organsof state.

The authorities meanwhileeased the timing of a curfew

See # 2 Page 11

Hundreds rally againstgovt; two minister quit

Tunisia political upheaval continues

ISLAMABAD: Pakistan andBulgaria Wednesday decided toexpand and strengthen their bilat-eral relations in various fieldsincluding defense, economy,trade and culture.

This was stated by ForeignMinister Shah MehmoodQureshi and his Bulgarian coun-terpart Nickolay EvtimovMladenov while addressing ajoint press conference here afterholding bilateral talks at ForeignOffice.

Shah Mehmood Qureshi saidboth the countries have decidedto expand political consultationsand their next round will be heldthis year.

Qureshi said both the coun-tries will sign an agreementThursday (today) to promoteeconomic ties and expand bilat-eral trade and investment, addedboth nations have also decidedto establish linkages betweentheir universities.

The Bulgarian ForeignMinister Nikolay Mladenov giv-ing details of the talks said thathis country appreciates Pakistanrole in the fight against terrorism.

He said Bulgaria has richexperience in generating coalenergy and can share its experi-ence with Pakistan to overcomeenergy crisis.

Bulgarian Foreign Minister

said his country fully supportsPakistan in European Union toget trade concessions andimprove its economy.

Replying to a question both theForeign Ministers said thatPakistan and Bulgaria are sup-portive of reconciliation processin Afghanistan to bring normalcythere but it should be led by theAfghans themselves.

Answering a question ShahMehmood Qureshi said:"Pakistan and Afghanistan aredeveloping their relations at alllevels and there is a qualitativechange at military and politicallevels during the past few years."

Responding a question regard-ing resumption of Pak-India dia-logue, Qureshi said: "Pakistanwants to have productive andconstructive dialogue with Indiato resolve all outstanding issuesincluding Kashmir."

He said there is growing real-ization in India that Kashmirmovement is indigenous and itshould be resolved through polit-ical ways.

Replying to a question theBulgarian Foreign Minister saidthe international communitymust take collective standagainst radicalism and thereshould be religious harmony allover the world to fight these ele-ments. -Agencies

Bulgaria backsPakistan for EUtrade concessions

Both agree to up multilateral ties

RAWALPINDI: FederalMinister for Defense ChaudhryAhmed Mukhtar said thatPakistan would continue itsendeavors to promote sustain-able peace and stability inAfghanistan.

According to the pressrelease issued here Wednesday,he said that a peaceful, prosper-ous and stable Afghanistan wasnot only in the interest ofPakistan but for the entireregion.

He expressed these viewsduring a meeting with the visit-ing German military delega-tion, led by General VolkerWieker, Chief of Defence StaffGerman Armed Forces, whocalled on him.

The meeting discussed Pak-German defense cooperation,Pakistan's anti-terror contribu-tion and specially its role inpromoting peace and stabilityin the region.

Talking to the German mili-tary delegation, the Ministersaid that Pakistan attached

great importance to its ties withGermany and wanted to furtherexpand and consolidate its rela-tions with Germany in all areasof mutual interest.

He stressed the need for fur-ther promoting bilateral coop-eration in the areas of trade,economy and defense.

He briefed the visiting dele-gation about the counterterror-ism measures taken by Pakistanspecially its role in combatingand defeating terrorist elementsin the areas of Swat, Bajaur,Mohmand and SouthWaziristan Agency.

He informed the delegationthat Pakistan had achievedremarkable progress againstcombating the menace of ter-rorism. He said that Pakistanhad rendered greater sacri-fices against the war on ter-ror.

Minister thanked the Germangovernment for providingdonation of medical equipmentfor the Armed Forces of

See # 4 Page 11

Afghan peace bidsto go on, vows Pak

German mily delegates call on Mukthar

WASHINGTON: Pakistan'sambassador to the US HusainHaqqani Tuesday said report ofISI taking Afghan-Talibanleader, Mullah Omar, to hospi-tal after he suffered a heartattack earlier this month "hadno basis whatsoever".

"Sometimes intelligence tipsreceived by professionals turnout to be wrong. The storyabout Mullah Omar falls underthat category. You might recalla similar story from 2001 aboutOsama bin Laden receivingdialysis treatment that turnedout to be incorrect, and the fab-rication of those who wanted togive Pakistan a bad name,"Haqqani was quoted as sayingby The Washington Post.

He went on to say that"Pakistani intelligence, military

and law enforcement personnelcontinue to hunt down wanted alQaeda and Taliban figures andwill apprehend anyone if andwhen we have hard intelligence,which is very different from spec-ulation circulated by contractors".

The Washington Post citedthe intelligence network, whichruns under the auspices of a pri-vate company The EclipseGroup as saying that Omar was"rushed" to the hospital Jan 7by the ISI.

The Eclipse report said: "TheISI rushed him to a hospital inKarachi, where he was givenheparin (an anticoagulant) andoperated on."

"After 3-4 days of post-oper-ative care in the hospital, hewas released to the ISI and

See # 1 Page 11

TWP says MullahOmar in Karachi

Pak terms intelligence report baseless

ISLAMABAD: Minister of State for Finance & Economic Affairs Hina Khar and BulgarianMinister of Foreign Affairs signing an agreement on economic cooperation.-Online

Senate bodysanctions

NCAP ‘11ISLAMABAD: SenateStanding Committee onDefence and Production hasdirected to investigate the acci-dent of boy who fell of from theaeroplane, and also approvedthe National Civil AviationPolicy (NCAP) 2011 with cer-tain amendments.

Standing Committee onDefense Production held itsmeeting here in Islamabad onWednesday chaired by thechairman committee JavedAshraf Qazi.

During the course of themeeting, Defense SecretaryAthar Ali told the members thatan inquiry committee has beensetup in the chair of JointSecretary Arshad FarooqSaleem to investigate the acci-dent of boy who fell of from theaeroplane. The commitee willpresent its report following thecombined findings of CivilAviation Authority (CAA),Airport Security and PunjabPolice.

See # 3 Page 11

AllWorldannouncesPak 25 fast

growing cosISLAMABAD: The PakistanFast Growth 25 companieshave grown an average of 81per cent a year for the pastthree years.

"They paint Pakistan in anew light, suggesting thatPakistan is a strong country forentrepreneurship", says a state-ment issued here Wednesday.

According to a statement,AllWorld Network announcedin Pakistan and world-wide thewinners of the Pakistan FastGrowth 25, a ranking of fastgrowth entrepreneurial compa-nies.

The Pakistan Fast Growth 25is a program of AllWorldNetwork in partnership withHarvard Business SchoolProfessor Michael Porter andwas launched in collaborationwith JS Bank Limited.

Joining the Pakistan 25 wereNominating Partners FPCCI,Rawalpindi Chamber ofCommerce & Industry, TiE,P@sha and Knowledge PartnerMishal (Pvt) Ltd.

As a group, the Pakistan 25broke AllWorld records forhigh growth of 8 countries inthe Middle East, Africa andSouth Asia.

The companies who madethe Pakistan 25 posted 81 percent annual growth ratebetween 2007 and 2009 withan average size of 400 employ-ees per company, and sinceinception they have created12,000 jobs.

On average the entrepreneursare 41 years old, with a numberhaving founded other success-ful companies.

Leading the Pakistan 25growth rankings are companiesin High-Tech andTelecommunications, andAgriculture and Textiles.

Many of these risingPakistan 25 companies are notjust serving local markets, butare competing globally.

"These results despite allodds project the force andsheer passion of these vibrantbusiness leaders. At JS Bank,we have always supportedentrepreneurs and have takeninitiatives that create an envi-ronment friendlier for withinthe entrepreneurship space.We are pleased to see our part-nership with Allworld bring tofrontline such amazing suc-cess stories of these com-pelling entrepreneurs." Kalim-ur Rehman, President JSBank. -Agencies

Twin blastskill 15Iraqis

BAQUBA: A suicide bomberrammed an ambulance packedwith explosives into a securi-ty headquarters Wednesday,killing 13 people in the sec-ond major attack against Iraqiforces in as many days.

Another suicide attack in anearby town killed two othersand wounded a top provincialofficial, shattering a relativecalm in Iraq following the for-mation of a new governmentby Prime Minister Nuri al-Maliki last month.

"I was on my way to themarket close to the buildingwhen I saw the ambulancearrive at the entrance," 53-year-old Sumaya Sabr, whosuffered wounds to her headin the first blast, said from herhospital bed in Baquba, capi-tal of Diyala province and siteof the first attack.

"The guards tried to speakto the driver, and when theygot close to the ambulance, itblew up. I can't rememberanything else -- I woke up inthe hospital."

Firaz al-Dulaimi, a doctor atBaquba hospital, put the tollat 13 dead and 64 wounded.

The explosion also damagednearby buildings, includingthe al-Batool women and chil-dren's hospital.

Three young children andtheir teacher were alsowounded at a nursery school,an official at DiyalaOperations Command said.

Local officials imposed avehicle curfew on Baquba,not allowing any cars in orout, and security forces cor-doned off the scene of theblast.

About 90 minutes later inthe nearby town of Ghalbiyah,a suicide bomber blew up his

See # 5 Page 11

Presidencydenies hiring

of foreignguards

ISLAMABAD: A spokesmanto the President Wednesdayrejected media reports of hiringof foreign security guards forPresident Asif Ali Zardari andtermed these as "completelydevoid of truth."

"No proposal whatsoever isunder consideration to employor seek foreign guards for thesecurity of the President,"spokesman Farhatullah Babarsaid.

He said the security detail inthe Presidency was still thesame as was in place beforePresident Asif Ali Zardari tookoath of office.

"In fact, none of the personalstaff of the President from theMilitary Secretary to DeputyMilitary Secretary (DMS) toADCs and to senior securityofficials that were in placebefore President Zardari's tak-ing over have been changedand same officers who wereworking in the Presidencybefore, are continuing in theirpositions," he added.

Babar said regurgitation ofbaseless reports about hiringforeign security guards despitedenials only promotes sensa-tionalism and does not servethe cause of fair and objectivereporting. -APP

The Financial Daily-Epaper-20-01-2011

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