International

Iraq church raid leaves 52 dead See on Page 12

Power reforms enter last phase See on Page 12

Shujaat, Sharif meet seen likely See on Page 12

*Crude Oil (brent)$/bbl 84.89

*Crude Oil (WTI)$/bbl 83.28

*Cotton $/lb 129.26

*Gold $/ozs 1,354.50

*Silver $/ozs 24.74

Malaysian Palm $ 1,002.00

GOLD (NCEL) PKR 37,578

KHI Cotton 40Kg PKR 8,788

Yearly(Jul, 2010 up to 29-Oct-2010)

Monthly(Oct, 2010 up to 29-Oct-2010)

Daily (29-Oct-2010)

Total Portfolio Invest (22 Oct-2010)

104.72

55.50

0.54

2532

3.75

-0.67

-0.65

-3.00

0.11

0.40

0.06

SCRA(U.S $ in million)

Portfolio Investment

FIPI (01-Oct-2010)

Local Companies (01-Oct-2010)

Banks / DFI (01-Oct-2010)

Mutual Funds (01-Oct-2010)

NBFC (01-Oct-2010)

Local Investors (01-Oct-2010)

Other Organization (01-Oct-2010)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (22-Oct-10)

Inflation CPI% (Jul 10-Sep 10)

Exports (Jul 10-Sep 10)

Imports (Jul 10-Sep 10)

Trade Balance (Jul 10-Sep 10)

Current A/C (Jul 10- Sep10)

Remittances (Jul 10-Sep 10)

Foreign Invest (Jul 10-Sep10)

Revenue (Jul 10-Sep 10)

Foreign Debt (Jun 10)

Domestic Debt (Aug 10)

Repatriated Profit (Jul- Aug 10)

LSM Growth (Aug 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.88bn

13.77%

$5.18bn

$9.03bn

$(3.85)bn

$(545)mn

$2.65bn

$455.10mn

Rs 310bn

$55.63bn

Rs 4863bn

$124.90mn

-3.85%

4.10%

$1,051

170.94mn

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

18.75

2.00

1.70

9.73

PKR/Shares

111.57

160.91

42.91

36.47

33.40

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)

20-Oct-2010

20-Oct-2010

20-Oct-2010

29-Sep-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

01-Nov-2010

12.77%

13.08%

13.22%

13.50%

12.67%

12.99%

13.24%

13.62%

13.71%

13.65%

13.74%

13.84%

14.21%

14.34%

14.50%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.60 84.70

Canadian $ 84.60 84.70

Danish Krone 15.00 15.40

Euro 118.20 118.70

Hong Kong $ 10.85 11.09

Japanese Yen 1.050 1.076

Saudi Riyal 22.95 23.10

Singapore $ 65.80 65.90

Swedish Korona 12.30 12.80

Swiss Franc 88.40 88.90

U.A.E Dirham 23.30 23.50

UK Pound 135.70 136.00

US $ 85.90 86.20

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 84.75 84.95

Canadian $ 84.32 84.52

Danish Krone 16.07 16.11

Euro 119.88 120.16

Hong Kong $ 11.06 11.09

Japanese Yen 1.063 1.066

Saudi Riyal 22.87 22.92

Singapore $ 66.43 66.58

Swedish Korona 12.93 12.96

Swiss Franc 87.20 87.40

U.A.E Dirham 23.35 23.40

UK Pound 137.71 138.04

US $ 85.82 86.01

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 28°C 10°C KARACHI 34°C 19°C LAHORE 30°C 15°C FAISALABAD 31°C 13°C QUETTA 24°C 4°C RAWALPINDI 29°C 12°C

Weather Forecast

Malik, Altaf goover Khi affairs

See on Page 12

ISLAMABAD: Decisionhas been taken in the sen-ior ministers meeting heldhere under Prime MinisterSyed Yousuf Raza Gilanito drop electricity bombon masses with raisingpower tariff by 2 per cent.The meeting took place inPrime Minister Chamberof parliament house onMonday.Federal ministers includ-ing Hafiz Shaikh, NaveedQamar, Raja PervaizAshraf, Khurshid Shah

and Qamar Zaman Kairaattended the meeting.The meeting reviewed theIMF demand and precon-ditions for raising powertariff by 3 to 4 per cent.Minister for water andpower Raja PervaizAshraf took the primeminister into confidenceon his talks with IMF,World Bank and AsianDevelopment Bank.Sources told that primeminister had accorded

See # 16 Page 11

After POL, powertariff rise on cards

PM chairs meeting

Ahmed Siddique

KARACHI: Despite thedevastating floods incountry, corporate sector'sprofitability showed adecent growth of 15 percent, as sectors less-affected by floods havesurged in profitability dur-ing the period July toSeptember 2010.

According to the TFDResearch -- whichincludes 39 companiesrepresenting 78 per centof the total market capital-isation of KSE 100-Index-- total earnings of thecompanies mounted toRs63.072 billion ($733million) in 1QFY11

against Rs54.82 billion($653 million) in the cor-responding period lastyear.

As per TFD analyst, tex-tile, gas marketing compa-ny (GMCs), chemicals,exploration & production(E&P), power (IPPs),refineries, and banksshowed jumped in theirprofitability.

While cements, oil mar-keting companies(OMCs), fertiliser, tele-com, and auto sector prof-itability remaineddepressed owing to weak-ening fundamentals due todevastating floods andturnover tax.

See # 11 Page 11

1Q corporateprofits up 15pc

Shiraz Ahmed

KARACHI: The price ofimported LiquefiedPetroleum Gas (LPG) hassurged by Rs12000 to hitrecord high at Rs95000

per tonnes as SaudiAramco Contract price(CP) climbed by $93 to$788 in the internationalmarket.

This was stated by the See # 15 Page 11

Govt urged taxfree LPG import

Askari namedas actingKSE MDRaheel Amer

KARACHI: The Boardof Directors of KarachiStock Exchange (KSE)held a meeting Monday in

See # 14 Page 11

6 killedin NWA

missile strikeMIRANSHAH: A USmissile strike Mondaykilled six people andinjured 2 in Mir Ali areaof North Waziristan dis-trict.

According to mediareports, a US drone air-craft fired three missilesinto a house in Haider Alivillage killing six peoplewho were present in thehouse and injuring two.

The locals have startedrelief activities on self-help basis and there arefears of more casualties.

An official of politicaladministration confirm-ing the attack said thatterrorist dens were thetarget of the missile strikein which 5 militants pos-sibly foreigners havebeen killed.

See # 12 Page 11

LB polls in 6mths

PPP toldto start

campaignTanzeel-ur-Rehman

KARACHI: PresidentAsif Ali Zardari Mondayasked the Sindh ministersbelonging to PPP to stepup their contacts with themasses and address theirproblems by holding openkatcheries to brace for thelocal bodies elections,which would be held in

See # 13 Page 11

LONDON: Scotland Yard has hand-ed over the body of slain leader ofMuttahida Qaumi Movement DrImran Farooq to his parents, mediareported Monday.

According to sources, Dr ImranFarooq's body will reach Karachi on

Friday. Later, he will be laid to rest inMQM's Shuhada Graveyard,Yasinabad.

Dr Imran Farooq had been assassi-nated by unknown men in London onSeptember 16.

The Scotland Yard handed over the

MQM leader's body to his parentsafter 45 days of his assassination.

Muttahida Qaumi Movement(MQM) has decided to suspend itsactivities for the next three days, inview of the arrangements for funeral

See # 9 Page 11

Dr Farooq's body to reach Khi on FridayScotland Yard hands over dead-body to parents; MQM suspends activities for 3 days

KARACHI: President Asif Ali Zardari presiding over a meeting ofProvincial Cabinet Members of PPP at Bilawal House. -APP

ISLAMABAD: FederalGovernment Monday fixed thewheat production target for the year2010-11 at 25 million tonnes, whilesugarcane output estimated at 54million tonnes.

This was deliberated upon during ameeting of Federal Committee onAgriculture (FCA) which met hereunder the chair of federal minister forfood and agriculture NazarMuhammad Gondal.

FCA had set a target to produceabout 25 million tonnes of wheat forthe year 2010-11 as against thedomestic requirement of 23.5 mil-lion tonnes.

The meeting was attended byMinister for Agriculture Punjab AliAhmed Aulakh and Secretaries ofProvincial Agriculture Departments,AJK and other high officials of vari-ous attached departments were pres-ent in the meeting.

Briefing the media about the tar-gets set for the Rabi Season 2010-11,Nazar Gondal said that potato pro-duction target was fixed at 2.94 mil-lion tonnes against the requirementof 1.7 million tonnes, while onionproduction target was fixed at 1.82million tonnes against the require-ment of 1500 thousand tonnes.

The provinces informed that flood

affected the sugarcane crop and itsproduction may not match the target.The sugar production may fall at 3.2million tonnes against the earlier esti-mates of 3.0 million tonnes.

Maize production estimates for theyear 2010-11 were set at 3.5 milliontons with similar requirement.

Gram production target was fixedat 619 thousand tonnes against therequirement of 600 metric tonnes, headded.

Meanwhile, the minister directedthe provinces to devise appropriatepolicy for promotion of pulses likegram and lentil cultivation in their

See # 8 Page 11

Govt fixes wheattarget at 25mn T

Gondal chairs FCA meeting for Rabi Season 2010-11

Sugarcane output estimated at 54mn T

ISLAMABAD: Prime Minister SyedYousuf Raza Gilani has directed theChairperson of the Benazir IncomeSupport Programme (BISP) to explorethe opportunities of financial supportfrom the international donors to com-plement the government's efforts inprovision of relief to the poorest sec-tions of society.

He further said that directions toMinistry of Water and Power andMinistry of Petroleum and NaturalResources have already been given toevaluate the total cost of subsidy onelectricity and gas to the recipients ofthis programme.

He was talking to chairperson BISP,Farzana Raja, who called on him at PMHouse here.

Prime Minister expressed his satisfac-tion over the BISP's planning to expandits operations from the existing threemillion families to five million familiessoon after the completion of povertysurvey.

He appreciated the effective servicedelivery of the Benazir Income SupportProgramme (BISP) to help the mostvulnerable segments of the society.

Prime Minister directed theChairperson BISP to expedite the com-pletion of poverty survey so that moredeserving families could be approachedthrough this social security net.

Meanwhile talking to Jean Lambert,MEP, Chairperson, South AsiaDelegation of the European Parliament

See # 10 Page 11

Gilani seeks int'ldonors for BISP

PM stresses for early implementation of EU concessions

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SSE COMP. 3,054.02 75.19

FTSE 100 5,713.93 38.77

*Dow Jones 11,195.31 76.82

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Karachi, Tuesday, November 2, 2010, Zul-Qa’dah 24, Price Rs12 Pages 12

LPG price hits record Rs95000/T

2 Tuesday, November 2, 2010

TV PROGRAMMES

TUESDAY

Time Programmes

7:00 News

8:00 News

9:05 Subah Savere Maya

ke Sath

11:00 News

12:00 News

13:10 Newsbeat (Rpt)

14:10 Tonight With

Jasmeen (Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

19:30 Crime Scene

20:03 Newsbeat

21:00 News

22:03 Tonight With

Jasmeen

23:00 News

23:30 24

Staff Reporter

KARACHI: Al BarakaIslamic Bank Pakistan(AIBP), the branch opera-tions of Al Baraka lslamicBank (AIB) Bahrain, asubsidiary of Al BarakaBanking Group (ABG)Bahrain, and EmiratesGlobal lslamic BankLimited (EGIBL) havesuccessfully merged theiroperations under the nameof Al Baraka Bank(Pakistan) Limited(ABPL). The Head officewill be located in Karachi.

ABPL will have assets

in excess of Rs50 billion,a workforce of 1400 pro-fessionals and a networkof 89 branches in 36 citiesand towns across thecountry. ABPL will com-mence operations fromclose of business onOctober 29and subse-quently all branches ofEmirates Global lslamicBank will be re-branded asABPL.

The merger, a first in thelslamic Banking sector inPakistan, positions ABPLto play an important rolein further growing anindustry which has wit-

nessed tremendous growthover the last 5 years.Substantial capitalresources, combined witha nationwide branch net-work will enable ABPL toprovide a full range oflslamic banking services,supported by the experi-ence and expertise of theparent company, ABG.

The operations of AIBPdate back to 1991, and atthe time of merging itsoperations, it had 29branches across Pakistan,an asset base of Rs. 31 bil-lion and profit before taxof Rs.168 million.

AIBP, EGIBLmerge to form

Al Baraka Bank

Staff Reporter

KARACHI: PlasticsTechnology Centre (PTC)Karachi application foraffiliation is accepted bythe Karachi University andpermanent decision of theaffiliation will be made byacademic counsel soon,sources have said.

Plastics TechnologyCentre (PTC) is being rununder the federal ministryof industries and produc-tion. Prior applying to theKarachi University for theaffiliation, PTC was asso-ciated with HamdardUniversity Karachi.

In the letter written byActing Director, PTC

Engineer Shaikh AbdulRaheem to the ViceChancellor, KU, DrPeerzada Qasim, it wasmentioned that PTC wasconducting a 4-year degreeprogramme - BE Polymer-- from 1997 under theaffiliation with HamdardUniversity. More than 10batches have successfullypassed out since. BEPolymer programme alsoregistered with PakistanEngineering Council, andHigher Education Centrealso gave its approval tothe degree programme.

The letter further elabo-rated that PlasticsTechnology Centre waspaying heavy amount

under affiliation head toHamdard University,despite the fact that insti-tute does not receive anygrant from government,besides growing inflationand soaring utility billsadd to its financial difficul-ties.

The letter requested tothe KU, keeping theabove-mentioned facts infore, affiliate the institutewith Karachi Universitydirectly.

It was learnt that KU hasaccepted the PTC requestfor the affiliation and thecourses conducted by PTChave also been approved,and hopefully it will soonbe awarded the affiliation.

KU accepts PTC’saffiliation request

KARACHI: TelenorPakistan has climbed up theACCA professional ladder,by gaining a higher ACCAapproved employer status.With this re-kindling ofpartnership, Telenor provesit mettle as a dynamicorganisation working forthe benefit, and continuousprofessional advancementof its employees, said astatement issued here onMonday.

'The experience that theACCA trainees achievewithin Telenor, coupledwith an ethics module pro-vides an exceptional plat-form for professionals toexcel in their careers', saidArif Masud Mirza, Head ofACCA Pakistan, in a cere-mony held for awarding thePlatinum level ApprovedEmployer status to Telenor.

Also present at the cere-mony was Karl Erik

Broten, Chief FinancialOfficer, Murtaza Ali,Director Financial Controland Naushad H Javaid,Director PeopleExcellence. LaudingACCA, Broten comment-ed, 'Telenor and ACCAPakistan share commonvalues and a commitmentto help employees gainexcellence in their educa-tional and professionalcareers.-PR

Telenor becomes ACCAcertified employer

Staff Reporter

KARACHI: ChairmanPakistan TannersAssociation (Central),Khurshid Alam hasstrongly criticized thedecision for increasingEnergy Tariff by 2 per centand petroleum products by9 per cent that will certain-ly damage the highlyvalue added leather indus-try which is the backboneof the exporting industry.

The export of leathersector industry is facingcontinuous decline by 30per cent to $863 Millionfrom $1.220 Billion in itsexport since 2007-08while the power tariff wasalready increased from 63per cent to 70 per cent and

gas tariff by 48 per cent.Rapid increase in tariff ofPower, Gas and Petroleumproducts would have avery negative impact onthe whole leather industrythat is already passingthrough extreme crisis asgas & power load shed-ding has crippled this con-tinuous processing indus-try which is engaged inearning sizeable foreignexchange for the country.

Intermittent increase ingas and power tariff iscausing mayhem as theleather manufacturers &exporters are unable tocontinue their productionactivities and are failingto comply with foreignorders on time which isalso a great loss to the

national exchequer.He said it is better if the

Government shouldannounce in categoricalterms to close down theindustries because theyhave totally failed to ful-fill the requirements ofthe industries.

The Chairman, PTAappeals to theGovernment to take stockof the critical situationand withdraw this un-business friendly decisionimmediately to save theleather industry from fur-ther collapse. It is theneed of hour to give toppriority on this matter ofhigh significance to savethe exporters of leatherindustry from colossalloss of business.

Tanners lash outat oil price rise

KARACHI: Port GrandFood and Entertainmentcomplex, the innovativeand unique leisure facilityconceived and built byGrand Leisure Corporationwith an investment of over1 billion rupees exclusive-ly by the private sector isnow in its finishing stagesand is likely to be inaugu-rated after Eid-ul-Azha.

This was shared by ChiefExecutive of Port GrandShahid Feroz while talkingto media at the previewevent of Art Lane at PortGrand. Port Grand Cultureand Art hosted a previewevent for its special guests,to familiarize them withthe project as well as to get

their valuable inputs andfeedback.

"Port Grand is an effortto revive the culture andtraditions of old Karachi aswell as celebrate it as theCity of Lights. It wouldrevive the harbor culture,i.e. seafood, boatingaround the mangroves,pedestrian friendly harborfront experience etc." saidShahid Firoz, the spiritbehind the project.

He said a good omen isthat several foreign foodchains and retail stores arecoming to Pakistan andthus it would send a verypositive signal to foreigninvestors about Pakistan.-NNI

Food street to beopened by Eid

M Imran Sharif

KARACHI: The KorangiAssociation of Trade &Industry (KATI) hasstrongly condemned therecent 9 per cent hike inPOL prices by govern-ment of Pakistan anddemanded for immediatewithdrawal of thisincrease.

The Patron In-chief,KATI, S M Muneer,Chairman, Syed Johar AliQandhari and ViceChairmen, Salim-uz-Zaman and ShahidQureshi while rejecting

the a massive increase inpetroleum prices they saidthat hike price hike isinsult to injury for entireindustry as the industry isalready facing gas andelectricity load-shedding.The industrial sectorwould be totally collapsedafter this unbearableincrease", warnedChairman, KorangiAssociation of Trade andIndustry (KATI), SyedJohar Ali Qandhari.

He further said that theindustry is using oil to runthe factories due tounabated load-shedding

by KESC increases in costof oil products would fur-ther increase the cost ofproduction and our prod-ucts would becomeuncompetitive in interna-tional market.

He informed that therewould be a completeshut-down in all theindustrial areas onWednesday 3rdNovember if the govern-ment would not interveneinto the matter andresolve the issue of load-shedding by KESC whichhas become extremelyunbearable.

KATI condemnsPOL price hike

TUESDAY

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 Tax Time (Rpt)

16:15 Karobari Dunya

17:05 Ghar Ka Kharch

(Rpt)

18:05 Chai Time

19:00 News

19:05 Aap Ka Paisa

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 Kamyab (Rpt)

0:00 News

Port Grand Food & Entertainment complex

PTC conducts 4-yr degree programme

KARACHI: A petrol pump putting the new price the new price tag on the price board of a fuel stationas the prices of petroleum products have been inceased by the government.-Online

ISLAMABAD: UAE Ambassador, Ali Saif Sultan Al-Awani cuts ribbonto inaugurate teh Etihad Airlines office during inauguration ceremony

held in Islamabad.-PPI

TCPreportsRs1.6bnPAT in

FY10KARACHI: TradingCorporation of Pakistan(TCP) has reported a ProfitAfter Tax (PAT) of aboutRs1.633 billions for theyear ending June 30.

According to TCP hereMonday, the profit beforetax of the corporation stoodat Rs2.035 billion. Thesefigures were presented dur-ing the recently held annualgeneral meeting whichreviewed the auditedaccounts for the year 2009-2010, prepared by MuniffZiauddin Junaidy & Co.

The AGM was told thatTCP was incorporated in1967 with capital of Rs7.5million which now standsRs 1 billion by issuingbonus shares. The equity ofthe corporation includingcapital and reserves up toyear 2009-2010 has surgedto Rs6.9 billions.

The AGM appreciated themanagement for bringingdiscipline in administrationexpenses and earning betterprofits with lesser activityduring the year compared toprevious financial year.-APP

ACCAto hold

accountancymoot on 24th

Staff Reporter

KARACHI: Association ofChartered CertifiedAccountants Pakistan willbe organising AccountancyFutures Symposium on 24-25 November here. Thisunique event will contributeto the forward agenda of theprofession, business andsociety at large, said an offi-cial here on Monday.

The economic, politicaland environmental climatehas exposed shortcomingsin the way public policy andregulation have developedin areas such as financialregulation, financial report-ing, corporate transparency,climate change and assur-ance provision. In responseto the challenges presentedto the accountancy profes-sion by this new businessenvironment, the officialfurther said.

More and more businessesdemand from their financefunction the ability to thinkabout the future of the busi-ness, scan the horizon forbusiness opportunities,design new business modelsand contribute to the inno-vation of products, servicesand processes. As business-es position themselvesthrough unique value propo-sitions to gain competitiveadvantage, the war for talentwill increase. Pakistan witha growing young populationof generation Y must appre-ciate the aspirations of bothyouth and employers, toleverage on this the sympo-sium features a special ses-sion Generation Y:Realizing the Potential.

DG Healthlauds AmanFoundationrelief effortsKARACHI: DirectorGeneral Health, DrRasheed Jooma, laudedAman Foundation's floodrelief activities at anevent organised to paytribute to the efforts of itsstaff deployed in flood-hit areas of Punjab,Sindh and Balochistan.

"In your quest to bringrelief to those affected bythe worst floods inPakistan's history, youexperienced tremendousdifficulties," acknowl-edged Dr Jooma. "Youmade an impressionwherever you went," thishe emphasised was dueto the team's dedicationand the quality of servicethat it provided".

LABARDto work forhandicapedLAHORE: The LahoreBusinessmen Associationfor Rehabilitation ofDisabled (LABARD) &CARE International onMonday signed aMemorandum ofUnderstanding (MoU) byvirtue of which the CareInternational would extendits best cooperation toLABARD for rehabilita-tion of disables.

LABARD Joint SecretaryMohammad Saeed Khanand Mark Nolan, Chief ofParty, USAID Pakistan,JOBS Project, CAREInternational inked theMoU. The LABARDGoverning Body Memberswere also present on theoccasion.-PR

PIA sendslegal noticeto TV host

KARACHI: The PakistanInternational AirlinesCorporation served a "LegalNotice" upon MubashirLucman of Express News, atelevision anchor, forallegedly having uttereddefamatory, false and libel-lous statements against theCorporation and its man-agement representativesthrough his programme"Point Blank" on 21-10-2010".

A PIA spokesman in astatement issued here onMonday said that the legalnotice called upon theanchor and the NewsChannel to tender anunconditional apologywith a warning that failureon the part of the twowould consequence in alaw suit.-APP

Staff Reporter

KARACHI: Administrator KarachiFazl-ur-Rehman has said that all arrange-ments have been completed for treatmentof dengue virus. Platelets are available insufficient quantity while already twospecial wards were established in AbbasiShaheed Hospital and another ward willstart working from Monday.

City Government has made agreementwith a private company for supply ofplatelets. These platelets were beingprovided to Abbasi Shaheed Hospitaland other hospitals of city.

He expressed these views while talk-ing to media representative during avisit of Razzaqabad in Bin Qasim Town

on Sunday. City Government Karachiand town administration performedspray in Bin Qasim Town.

Relief camps for flood affectees werealso covered during the spray.Reviewing the spray workAdministrator Fazlur Rehman said thatpreviously health department and townadministration committed negligencein the fumigation work that causedunsatisfactory results. Now MunicipalServices Department of CityGovernment has arranged thoroughand detailed spray in each towns of citywith the help of town administration.

He said that he himself paid visit to dif-ferent towns along with EDO MunicipalServices and check the spray work.-

CDGK flexes muclesagainst dengue fever

KARACHI: Administrator Karachi Fazl-ur-Rehman pouring mosquitopoison in spray machine to start fumingation campaign in Bin

Qasim town Razzabad.-Staff Photo

MUMBAI: The Indian rupeewas wedged in a tight band onMonday as dollar outflowsrelated to Coal India's share saleoversubscription offset positivesentiment from buoyant sharesand a broadly weaker dollar.

The partially convertiblerupee closed at 44.47/48 perdollar, a little weaker than its44.43/44 close on Friday. Ittraded in a range of 44.35-44.48 during the day.

The government will raiseclose to $3.5 billion from thesale of a 10 per cent stake inCoal India, the world's largestcoal miner. The initial publicoffering was roughly 15 timessubsribed. Its shares will begintrading on Thursday, and therefunds from excess subscrip-tions are expected this week.

Foreign funds have pur-chased shares worth a record$24.8 billion so far this year,helping the rupee gain 4.6 percent. The Reserve Bank ofIndia on Tuesday is expected toraise rates for the sixth timethis year to batten down stub-

bornly high inflation pressures,a Reuters poll showed.

Traders said losses in the dol-lar versus majors limited a fur-ther slide in the rupee.

One-month offshore non-deliverable forward contractswere quoted at 44.64, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, MCX-SX andUnited Stock Exchange closedat 44.7050, 44.7050 and44.7250 respectively, with thetotal traded volume on thethree exchanges at about $5.9billion. -Reuters

Rupee slides; CoalIndia refunds weigh

3Tuesday, November 2, 2010

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 01/11/2010

A USD GBP CAD EUR JPY

O/N 0.22563 0.55375 1.02333 0.68250 SN 0.09438

1WK 0.24841 0.55563 1.05000 0.73375 0.10688

2WK 0.25000 0.56000 1.07167 0.75750 0.11250

1MO 0.25375 0.56875 1.10750 0.80375 0.12563

2MO 0.26859 0.62688 1.15917 0.86250 0.15438

3MO 0.28594 0.74100 1.21833 0.98875 0.19750

4MO 0.33500 0.82413 1.27667 1.04438 0.28125

5MO 0.39625 0.92813 1.33667 1.13000 0.33813

6MO 0.44563 1.03000 1.40583 1.22438 0.39750

7MO 0.49350 1.10375 1.46083 1.27563 0.45750

8MO 0.54125 1.18725 1.54333 1.32250 0.50375

9MO 0.59313 1.26813 1.60750 1.37375 0.55375

10MO 0.64750 1.34250 1.68083 1.41813 0.58250

11MO 0.70281 1.41000 1.75917 1.46125 0.61063

12MO 0.76038 1.48038 1.84500 1.50688 0.63813

Countries Selling Buying Buying

TT & OD TT Clean OD/T.CHQ

U.S.A. 85.95 85.75 85.560

U.K. 138.04 137.71 137.400

EURO 120.16 119.88 119.600

CANADA 84.52 84.32 84.100

SWITZERLAND 87.40 87.20 86.970

AUSTRALIA 84.95 84.75 84.530

SWEDEN 12.96 12.93 12.890

JAPAN 1.07 1.06 1.060

NORWAY 14.73 14.70 14.660

SINGAPORE 66.58 66.43 66.250

DENMARK 16.11 16.07 16.030

SAUDI ARABIA 22.92 22.87 22.810

HONG KONG 11.09 11.06 11.030

CHINA 12.88 12.85 12.810

KUWAIT 306.22 305.51 304.700

MALAYSIA 27.76 27.70 27.620

NEW ZEALAND 65.86 65.71 65.540

QATAR 23.61 23.56 23.490

U.A.E. 23.40 23.35 23.290

KR WON 0.08 0.08 0.077

THAILAND 2.88 2.87 2.864

London Inter Bank Offered Rates (LIBOR)

Time Source Events Forecast Previous

2:45 NZD Labor Cost Index q/q 0.5% 0.4%

8:30 AUD Cash Rate 4.50% 4.50%

13:15 CHF Retail Sales y/y 1.4% 0.1%

2nd-8th GBP Halifax HPI m/m 0.4% -3.6%

14:30 GBP Construction PMI 53.1 53.8

Source Events Actual Forecast Previous

CNY Manufacturing PMI 54.7 53.5 53.8

JPY Average Cash Earnings y/y 0.9% 0.5% 0.4%

CNY HSBC Manufacturing PMI 54.8 52.9

CHF SVME PMI 59.2 59.5 59.7

GBP Manufacturing PMI 54.9 53.2 53.4

USD Core PCE Price Index m/m 0.0% 0.1% 0.1%

USD Personal Spending m/m 0.2% 0.4% 0.5%

USD ISM Manufacturing PMI 56.9 54.2 54.4

USD Construction Spending m/m 0.5% -0.5% -0.2%

USD ISM Manufacturing Prices 71.0 70.7 70.5

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Dec 07 2010 Sep 08 2010 1%

Bank of England Nov 04 2010 Mar 05 2009 0.50%

Bank of Japan Nov 05 2010 Dec 19 2008 0.10%

European Central Bank Nov 04 2010 May 07 2009 1%

Federal Reserve Nov 03 2010 Dec 16 2008 0.25%

Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%

The Reserve Bank of Australia Nov 02 2010 May 04 2010 4.50%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, November 01,2010 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:

1WEEK 2 WEEK 1 MONTH 3 MONTH 6 MONTH 9 MONTH 1YEAR 2YEARS

BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK BID ASK

ABPL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ABLN 11.50 12.00 11.70 12.20 12.00 12.50 12.75 13.00 12.90 13.15 13.10 13.60 13.25 13.75 13.35 13.85

JSBL 11.60 12.10 11.75 12.25 12.15 12.65 12.75 13.00 13.05 13.30 13.20 13.70 13.30 13.80 13.50 14.00

ASPK 11.60 12.10 11.80 12.30 12.15 12.65 12.70 12.95 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80

CIPK 11.50 12.00 12.00 12.50 12.20 12.70 12.50 12.75 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80

DBPK 11.70 12.20 11.90 12.40 12.00 12.50 12.65 12.90 12.90 13.15 13.15 13.65 13.25 13.75 13.35 13.85

FBPK 11.50 12.00 11.80 12.30 12.05 12.55 12.65 12.90 13.00 13.25 13.10 13.60 13.15 13.65 13.40 13.90

FLAH 11.65 12.15 11.80 12.30 12.20 12.70 12.75 13.00 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80

HBPK 11.60 12.10 11.80 12.30 12.25 12.75 12.75 13.00 13.00 13.25 13.10 13.60 13.20 13.70 13.35 13.85

HKBP 11.70 12.20 11.85 12.35 12.20 12.70 12.70 12.95 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80

NIPK 11.40 11.90 11.95 12.45 12.50 13.00 12.85 13.10 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80

HMBP 11.65 12.15 11.80 12.30 12.40 12.90 12.80 13.05 13.00 13.25 13.15 13.65 13.20 13.70 13.30 13.80

SAMB 11.50 12.00 11.75 12.25 12.25 12.75 12.80 13.05 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85

MCBK 11.50 12.00 11.80 12.30 12.15 12.65 12.80 13.05 13.05 13.30 13.20 13.70 13.30 13.80 13.50 14.00

NBPK 11.50 12.00 11.75 12.25 12.10 12.60 12.75 13.00 12.80 13.05 13.10 13.60 13.20 13.70 13.30 13.80

SCPK 11.40 11.90 11.75 12.25 12.10 12.60 12.70 12.95 12.95 13.20 13.10 13.60 13.15 13.65 13.35 13.85

UBPL 11.75 12.25 11.85 12.35 12.20 12.70 12.70 12.95 13.00 13.25 13.15 13.65 13.20 13.70 13.35 13.85

AVE 11.56 12.06 11.80 12.30 12.17 12.67 12.74 12.99 12.99 13.24 13.12 13.62 13.21 13.71 13.33 13.83

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)01/11/2010

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

1 week -0.50 -0.41 0.17 0.53 -0.63 -0.62 -0.93 0.941 month -0.67 -0.56 -0.50 0.80 -0.69 -0.09 -0.64 -0.033 months -0.83 -0.17 -0.87 -0.38 -0.80 -0.42 -0.80 0.546 months -0.81 0.68 -0.32 0.22 -0.83 -0.88 -0.76 0.371 year -0.47 0.62 0.29 0.54 0.00 -0.25 -0.49 -0.012 years -0.61 0.68 0.14 0.61 -0.06 -0.16 -0.60 0.57

Currencies CorrelationUSD/JPY

CMKA BMA INVSR GSL ICSL JSCM AvgRate

0-7days 11.90 11.50 11.70 11.75 11.80 11.65 11.72

8-15dys 12.10 11.90 11.95 12.00 12.00 12.00 11.99

16-30dys 12.30 12.20 12.20 12.20 12.25 12.20 12.23

31-60dys 12.42 12.42 12.50 12.40 12.45 12.45 12.44

61-90dys 12.67 12.66 12.70 12.67 12.70 12.65 12.68

91-120dys 12.85 12.75 12.82 12.85 12.85 12.80 12.82

121-180dys 12.95 12.92 12.98 13.02 13.00 12.96 12.97

181-270dys 13.10 13.05 13.08 13.12 13.10 13.06 13.09

271-365dys 13.15 13.10 13.18 13.22 13.20 13.16 13.17

2-- years 13.38 13.30 13.40 13.40 13.40 13.35 13.37

3-- years 13.65 13.65 13.65 13.65 13.60 13.70 13.65

4-- years 13.70 13.70 13.72 13.68 13.73 13.72 13.71

5-- years 13.72 13.72 13.74 13.74 13.75 13.74 13.74

6-- years 13.75 13.75 13.75 13.75 13.75 13.75 13.75

7-- years 13.75 13.75 13.75 13.76 13.75 13.75 13.75

8-- years 13.78 13.77 13.75 13.77 13.75 13.75 13.76

9-- years 13.80 13.77 13.77 13.65 13.75 13.78 13.75

10--years 13.80 13.80 13.82 13.90 13.85 13.85 13.84

15--years 14.20 14.20 14.22 14.20 14.20 14.25 14.21

20--years 14.35 14.35 14.35 14.35 14.30 14.35 14.34

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for November 01, 2010

NEW YORK: The dollarfirmed against the euro andyen on Monday after stronger-than-expected US manufactur-ing data, though gains werefleeting as markets braced formore monetary easing from theFederal Reserve this week.

The Fed is likely to announceon Wednesday a fresh round ofquantitative easing underwhich the US central Bankwould buy bonds and essen-tially flood the economy withdollars in an attempt to revital-ize it. That should pushTreasury yields lower anddiminish the allure of some USassets, forcing investors toseek higher returns elsewhere.

An above-forecast Octoberreading of US manufacturingconditions from the Institutefor Supply Management onMonday did nothing to signifi-cantly change the market's

view on the expected easing.Most economists expect the

Fed to buy $80 billion to $100billion in assets per month,according to a Reuters poll.Estimates of total purchasesranged from $250 billion to $2trillion.

"The dollar is starting torebound a little bit off the bet-ter-than-expected ISM data.But we're still within theranges we have seen the lastcouple of days," said GregMichalowski, chief currencyanalyst at the New York-basedonline broker FXDD.

"I think the market wasexpecting a weaker ISM tokeep the dollar on the defen-sive going into all the eventsthis week. But the data came instrong so traders were forcedto cover some of their shortpositions."

Japanese intervention fears

came to the fore again onMonday after a spike in thedollar versus the yen followingthe pair's fall to a fresh 15-yearlow. That further added uncer-tainty to a market already jit-tery about Wednesday's Feddecision, although trades wereconfined to a narrow pricerange.

In midday trading, the dollarwas up less than 0.1 per centagainst a basket of six curren-cies at 77.285.

Some analysts said dollarshort positions have becomeoverstretched as investorspriced in aggressive Fed eas-ing, leaving scope for a pull-back in the dollar if the Fedannounces a smaller round ofpurchases.

There are also significantevents this week, leaving mostinvestors sidelined, traderssaid. As well as the Fed, there

are four other major policydecisions this week -- inAustralia, the euro-zone, UKand Japan -- with key US jobsdata due Friday.

The euro was down 0.5 percent at $1.3879 after climbingto $1.4012 overnight.

The euro was also weigheddown by gains in the pound,traders said, after UK datashowed an above-consensusmanufacturing index. Theeuro was down 0.4 per cent at0.8660.

The dollar rose 0.4 per centto 80.68 yen, mostly on theISM data. It earlier spikedmore than one yen to 81.60 yenin Asian trade.

The Australian dollar was up0.3 per cent at US$0.9865,buoyed by strong data fromChina, the biggest buyer ofAustralian commodities. -Reuters

Dollar cheered by ISMdata, but gains fleeting

SHANGHAI/HONG KONG:Spot yuan ended down againstthe dollar on Monday after theChinese central bank fixed amid-point lower than the markethad expected, but dealers saidrecent developments in offshoreyuan trading in Hong Kong willadd pressure for yuan apprecia-tion in the long term.

Due to strong demand foryuan in Hong Kong, the territo-ry's central bank stepped in tosettle trade-related yuan trans-actions after Bank of China,the sole lender authorised toclear such trades with themainland, ran down its quotafor the year.

The premium for yuan tradedin Hong Kong rose to 1,131pips over the mainland's spotrate on Monday, up from 980pips at the close on Friday,although that was still less thana record 1,790 yuan hit on Oct.18. China has been trying toraise the profile of its currencyabroad via reforms, includingpermitting exporters andimporters to use the Chinesecurrency for settlement withrestrictions.

In the latest of such moves,China will let some cross-bor-der investment flows in the far

western region of Xinjiang besettled in yuan, the country'sfirst such trial after a schemefor yuan trade settlement wasexpanded this year.

The PBOC set the mid-point,or its reference rate from whichthe yuan can rise or fall 0.5 percent in a day, at 6.6886 onMonday, slightly stronger thanFriday's 6.6908.

"The mid-point was a sort ofdisappointment as the marketexpects the yuan to appreciatethis month ahead of a slew ofpolitical events," said a dealerat a European bank inShanghai.

Reflecting the disappoint-ment, the yuan closed at6.7015 against the dollar onMonday, down from Friday'sclose of 6.6708.

It has now risen 1.86 per centsince the PBOC depegged itfrom the dollar on June 19.

Offshore, benchmark one-year non-deliverable forwards(NDFs) fell to its lowest intra-day level in more than a weekto 6.4280, dropping sharplyfrom a recent peak of 6.5230hit last Thursday, with theirimplied 12-month yuan appre-ciation rising to 4.05 per centfrom 2.69 per cent. -Reuters

Yuan ends lower

Swiss francweakens

ZURICH: The Swiss franc fellagainst the euro and dollar onMonday after unexpectedlystrong manufacturing data fromChina encouraged investors tomove into riskier assets.

Markets will now eyeSwitzerland's purchasing man-agers' index (PMI) for more cluesabout the strength of the Swisseconomy, which is expected toslow in the coming months afterrecent brisk growth. "PMI inChina was a positive surprise andthis has boosted risk appetite. Thenext important indicator is the USISM and if this is positive thiscould also be a boost to riskappetite," Credit Suisse analystSven Schubert said.

At 0804 GMT, the franc wastrading at 1.3784 per euro, downfrom Friday's New York close of1.3700 per euro as the Swissiecontinued its recent downwardtrend against the common cur-rency after rallying earlier thisyear. Against the dollar, the francwas trading at 0.9861 per dollar,down from the New York closeof 0.9820. -Reuters

LONDON: Sterling roseagainst the euro on Mondayafter better-than-expected UKmanufacturing data boostedconfidence in Britain's eco-nomic recovery and lessenedthe chances of fiscal stimulusfrom the Bank of England.

The Markit/CIPS's headlinemanufacturing PurchasingManagers' Index (PMI) roseto 54.9 in October, its highestlevel since July, confoundingeconomists' expectations for afall to 53.1.

The UK PMI data cameless than a week after GDPdata revealed the economygrew at twice the rate expect-ed in the third quarter, weak-ening the hand of BoE dovescalling for further quantita-tive easing.

Under such easing, the cen-tral bank would pump morepounds into the system bypurchasing more UK assetsfrom the market, which wouldlead to a currency deprecia-tion.

"Sterling is off the hookwith respect to QE, at least fornow," said Jane Foley, seniorcurrency strategist atRabobank, who predicted therally against the euro couldcontinue.

"There's an awful lot of badnews in the price of the pound

and plenty of scope for ster-ling to appreciate next year ifthe news consistently surpris-es on the upside."

In a rally sparked by therelease of the PMI data, ster-ling climbed to 86.59 penceagainst the euro, its highestlevel since Oct. 5.

Sterling's broad gains tookit to a one-month high on atrade-weighted basis of 80.48.

It jumped to a session highof $1.6090 against the dollarbefore paring gains followingstronger-than-forecast USmanufacturing data. By 1545GMT, the pound was tradingmore or less flat at $1.6040.

Ahead of the BoE'sMonetary Policy Committeeannouncement on Thursdaythe market will keep a closeeye on PMI construction andservices on Tuesday andWednesday respectively.

Volumes jumped lastmonth, hitting its highestsince June and picking upafter a slump in July-September.

At the same time, however,trading volumes for theeuro/sterling pair slipped inOctober from the previousmonth, suggesting the extentto which market participantshave been focused on sellingthe US currency. -Reuters

Sterling climbson UK PMI data

SINGAPORE: EmergingAsian currencies extendedtheir 2010 rally on Monday,supported by surprisinglystrong Chinese manufacturingdata which underscored theregion's solid growth potential.

Broad weakness in the USdollar also helped buoy Asiancurrencies as dealers nudgedup their bets against the curren-cy ahead of a Federal Reservepolicy meeting on Tuesday andWednesday.

The South Korean won wasbig mover on the day, buoyedby exporter demand, thoughgains were checked by fearsthat the government will

impose tougher measures tocontrol hot money inflows.

The won strengthened to1,115.3 per dollar, its highestsince Oct. 26, but was lastquoted at 1,116.4.

"Exporters' demand isstronger than expected, liftingthe won. But I wonder howmuch further the won will riseas caution is also growingaround 1,115," said a localbank dealer in Seoul.

Online news outlet YonhapInfomax quoted an unnamedfinance ministry official assaying the government waspreparing measures to easevolatility from capital flows.

Finance ministry spokesmanYoon Yeo-kwon told Reutersthe ministry was examiningvarious measures, but hadmade no decision yet.

Foreign investors remainednet sellers of local stocks,unloading a net 54.9 billionwon on the main exchange.

The Malaysian ringgit rose0.5 per cent, boosted by expec-tations of further policy easingby the Fed and gains in theSingapore dollar.

Traders expect the ringgit totest 3.0900 but investors arewary of central bank interven-tion around 3.0920-3.0950. -Reuters

Strong Chinese data addsfuel to Asian FX rally

SYDNEY/WELLINGTON: The New Zealanddollar flew at its highest level in over two yearson Monday, while the Australian dollar was bol-stered by data showing surprisingly strong man-ufacturing activity in top export market China.

The kiwi built on Friday's offshore gains torise as far as $0.7675, its highest since late Julyin 2008, before pulling back a touch in latertrade to $0.7660.

Short-covering in a thin market, underpinnedby the prospect of further NZ central bank raterises and the possibility of further US pumppriming by the Federal Reserve later this weekwere reasons cited for its strong performance.

"An additional programme of quantitative eas-ing can be expected to provide continued sup-port to the current elevated level of the NZ dol-lar-US dollar cross rate," said First NZ Capitaldirector of economics and strategy, Chris Green.

The kiwi's next hurdle is the psychologicalbarrier of $0.7700 and then around $0.7720,

with support at around $0.7605.The Aussie was firm at $0.9880 and approach-

ing resistance at $0.9900, which is close to the76.4 per cent retracement of its drop from$0.9973 to $0.9653. Support was at $0.9851, the61.8 per cent retracement of the move.

The two commodity currencies drew supportfrom data showing China's official purchasingmanagers' index for manufacturing rose wellabove expectations to a six-month high of 54.7in October, underlining the strength of theworld's second-biggest economy.

The China data helped to offset the wide-spread expectation that the Reserve Bank ofAustralia (RBA) will not raise interest rates at itspolicy meeting on Tuesday, with the chance of a25 basis point rise to 4.75 per cent put at a lessthan one-in-four chance .

The Aussie/kiwi pair bounced back fromFriday's seven-week low of NZ$1.2785 offshoreto settle around NZ$1.2890. -Reuters

NZ $ climbs to 27-mth highs,strong China data buoys

Taiwan dollarclimbs on

China dataTAIPEI: The Taiwan dollarclosed at a 27-month high onMonday as growth-linked assets inAsia rose on strong manufacturingdata from China and expectationsof a monetary easing decision thisweek in the United States.

A final price of T$30.695 perUS dollar, compared withFriday's close of T$30.782, wasthe strongest since Aug. 4, 2008.Investors gobbled up stocks andhigh-yielding currencies aftertwo China PMI indices showedOctober manufacturing at six-month highs in the world's No.2economy and Taiwan's topexport market. "PMI in China isvery strong, and Taiwan is wellleveraged to what's happeningin China," said Patrick Bennett,forex strategist with StandardBank in Hong Kong.

A hefty T$16.651 billion($542 million) worth of foreignfunds parked in Taiwan stockson Monday lifted both localshares and the currency market.

The island's central bank wouldstep up intervention if easing inthe United States opened theforex market to hot money, mak-ing the Taiwan dollar moreexpensive for exporters, analystspredicted. It was seen interveningon Monday to pare gains. Theauthority has bought roughly $5.8billion in US currency since Sept.27, according to an IFR Marketssurvey of traders. -Reuters

ISM manufacturing report spurs dollar short-covering

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.

Novdawns in

POL painsThe latest hike in POL prices has attracted

criticism from general public, industry andpublic representatives alike.

The consensus is that it was an uncalled forincrease which would further push the inflationup.

The worst part is that, every time, when a sub-stantial hike is anticipated most of the petrolpumps stop sales nearly 8-10 hours prior to theofficial announcement, only to make inventorygains. And it goes without saying that oil mar-keting companies make a windfall profit.

Motorcyclists belong to lower income groupand are the worst victims of hike in motor gaso-line prices. Car-owners who mostly use CNGsuffer as well, but to a lesser extent, whenauthorities opt for closing CNG stations undergas load management plan.

The successive hike in high speed diesel(HSD) has made it even more expensive thanmotor gasoline. The worst affected from thisrise are the users of public transport.Transportation charges for every thing haveincreased but fares of buses and coaches havegrown out of proportion. It is on record thatwhenever diesel price is increased public trans-port fares are increased within hours but noreduction is made when government revises theprice downward.

The experts have consensus that the pricingformula is faulty and public also has the rea-sons to trust them because the government isnot willing to make it public. Experts believethat the reason for evasion is simple, lust formaximising collection of petroleum develop-ment levy. The present government is notalone, the practice has been going on for thelast three decades.

One could also give benefit of doubt to thegovernment because crude oil has been stag-nant for sometime but prices of refined prod-ucts are on the rise, mainly because of closureof some refineries around the world. However,it is not a very strong argument because mostlyPOL buy/sale contracts are long term andimmune from seasonal variation.

It has been repeatedly highlighted that pricingformula should be made public. It is alsoPublic Accounts Committee’s (PAC) responsi-bility to stop the government from penalisingconsumers. Electricity consumers are alreadysuffering because of inefficient thermal powerplants. Running these plants on gas has not yetbenefited the consumers, worst off are thosewho still bother to pay their electricity bills.

There is also a need to revisit margins of therefineries, currently operating at less than 70per cent capacity utilisation. However, thiscan't be done unless intercorporate debt issue isresolved.

The habit of sweeping the issue under the car-pet maybe one of the debt-boosters but the realissue plaguing the energy sector is nonpaymentof power bills on the part of government andsemi-government offices coupled with rampantpilferage by “whoever wants to”.

4Tuesday, November 2, 2010

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

Head office

111-C, Jami Commercial Street 11, Phase VII, DHA KarachiTelephone: 92-21-5311893-6 Fax: 92-21-5388428

URL: www.thefinancialdaily.comEmail Address: editor@thefinancialdaily.com

Lahore office

24- Peshawar Block, Fortress Stadium, Lahore

Telephone: 92-42-6675595 Fax: 92-42-6664349

Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 87

Security fears triggeredby the air freight bombplot could increase the

costs of global trade and fueldebate over the technologyneeded to screen packagesand who should pay for it,transport officials said onSunday.

Two air packages contain-ing bombs -- both sent fromYemen and addressed to syn-agogues in Chicago -- wereintercepted in Britain andDubai on Friday.

One of the packages wasfound on a United ParcelService cargo plane at EastMidlands Airport, north ofLondon. The other was dis-covered in a computer print-er cartridge in a parcel at aFedEx facility in Dubai.

The plot could speed upcalls for wider use of sophis-ticated imaging technologydesigned to detect explo-sives, which is not standard,but freight firms are reluc-tant to bear the full cost.

"The technology used forscreening of cargo, typicallyby X-ray, ... doesn't haveexplosive detection capacity,but it does enable them tofind most things," saidNorman Shanks, a formerhead of security at the Britishairports operator BAA.

"But cleverly concealed

devices like this might sug-gest that there will have tobe an ability for an explosivedetection capacity such asCT (computed tomogra-phy)," said Shanks, who nowworks as a specialist aviationsecurity consultant.

tomography is a medicalscanning technologydesigned to display sectionalimages. Its attraction forsecurity firms was highlight-ed when France's Safran paid$580 million a year ago for81 percent of GE HomelandProtection, which suppliesthe technology.

British Home Secretary(interior minister) TheresaMay said security around aircargo arriving in Britain wasbeing reviewed, but stoppedshort of saying a tighter sys-tem was being planned.

Marco Sorgetti, director-general of CLECAT, aEuropean association offreight-forwarding compa-nies, said there were fears ofa knee-jerk reaction to thesecurity scare.

"Although this is a clearexample where targetedinvestigation pays, some willsay this is why we need 100percent scanning. What hap-pened doesn't make it (100percent scanning) one inchbetter in terms of risk analy-

sis, but emotionally peoplewill say we have to do this."

Freight firms clashed withUS and European policy-makers last year over callsfor 100 percent scanning ofsea containers. Plans tointroduce full scanning from2012 were postponed.

Shippers say targeted intel-ligence work is more effec-tive than faith in a blankettechnological approach withno guarantee of success,given the minute quantitiesneeded to pose a threat. Theysay the intelligence tip-offslinked to Friday's discoverydemonstrate that existingsystems work.

But some analysts say thecargo industry has for longenough escaped the stringentattention given to passengersecurity, or freight carried inthe cargo holds of passengerairliners.

"Although there has been alot of talk about the air cargosecurity regulations, most ofthese regulations affect thecargo that is placed on com-mercial passenger aircraft,not all-cargo operators," saidJeff Price, lead author of"Practical Aviation Security:Predicting and PreventingFuture Threats".

TWO-TIER SYSTEM

The World Customs

Organization distinguishesbetween screening -- riskassessment based on the ori-gin and other information;scanning -- which involvesX-ray or gamma-raymachines scanning closedpackages; and full physicalinspection.

Shanks said introducingfull scanning globally wouldbe unaffordable -- butauthorities may toughen atwo-tier approach:

"I think it will have to beaffordable for packages ofcargo coming out of coun-tries that are known in thepast to have caused prob-lems. This will have to be acost that is either picked upby the state itself or addedonto the shipment."

FedEx and UPS, respec-tively the world's largest andsecond largest carriers of airfreight by volume, are justthe tip of a multi-billion-dol-lar logistics industry respon-sible for keeping global sup-ply chains running smoothly.

"In the past five or sixyears we saw logistics costsgo up due to the movementof production plants to otherareas in the world. A bigsecurity focus might put thecosts up further," said NicoleGeerkens, top executive atthe European Logistics

Association."Now there is a trend

where people are consider-ing whether to in-source," orrepatriate production, sheadded.

Analysts say logistics rep-resent up to 15 percent of thevalue of goods, dependingon the type of business andeconomy.

"Depending on how youlook at it, logistics probablycover about 10 percent ofeveryone's lifestyle,"Sorgetti said.

The plot puts worldwideattention on security just ascargo companies struggle tomaintain a recovery in airshipments seen over the pastyear.

Any lasting economicdamage may be felt morewidely.

"It's our response thatachieves the true outcomesof the attack, not the attackitself," said Price.

"Recall the after-effects of9/11. Economic recession,airline bailouts, the largestgovernmental bureaucracycreated since World WarTwo. We now spend billionsof dollars a year on home-land security, and the attackshave forever changed theway in which we travel."-Reuters

A Bomb in the Mail

Muhammad Arif

Economically Pakistan hasnever remained better off butthe things have moved to the

worst in the last two years and thereseems no relief in sight. It is obviousthat the reasons for current situationstem from the political and econom-ic policies of the decision makers.However, we should not forget thatcurrent situation is nothing but aperiod of transition from a despoticto somewhat democratic system.This is a new experience for the peo-ple of Pakistan. Further potentialleadership is also missing, one beingassassinated in December 2007 andthe other constrained to keep himselfaway from politics till December,2010 under some agreement. In a sit-uation like this, incompetent or inex-perienced leadership comes on sur-face only to fill in the vacuum andpeople have to pay a price for that.

It is also a fact that period onward2007 remained highly turbulent oninternational as well as nationalfronts. Cycle of recession is on glob-ally whereas factors like fighting thewar on terror as a front line state hasadded to the miseries of Pakistan.Target killing in Karachi is anothersubject which is creating substantialchaos. Rising cost of living has madethe life of common man unbearable.Economic base has gone more fragileon account of flood devastation.

Pakistan is now at the verge whereon one side there seems no growthand on the other sidemenace of inflation is onattack. These culpritshave to be tackledimmediately otherwisepeople of Pakistanwould have to face fur-ther sufferings.

To resolve the crisis'political will is necessary. What infact is meant by the political will?This includes 1) Following goodgovernance to make right decisionsand 2) ensure proper implementationof the policies. The process requirescomplete support of all political par-ties irrespective what they think andwhat they like. The main stakeholderin the process is the Government andobviously it has to play a major role.However, going through this processno bargaining should be allowedespecially on the law and order situ-ation with particular reference to sit-uation in Karachi, Balochistan andKhyber PakhtunKhwa. Merit shouldbe the key word in dealing with thisentire situation.

Role of media is also important insubstantiating political will in thecountry. With this vision they canplay a meaningful role in getting thistheme realized. No doubt for gettingtheir income they sometime go out ofbox which on the short run can bring

them some success or better ratingsbut in the long run that can not besustained. This attitude can be fatalfor their organization and the coun-try itself in the long run.

Coming to economy, there can bedifferent versions or solutions for itsrecovery. However, in the currentstalemate, growth seems to be themain issue rather than inflation thatcan not be contained by curtailingaggregate demand. Main concern inthis regard seems to be theGovernment borrowings from theSBP, Rs 185 billion as of September,

2010 against zero targets for theongoing financial year. In a TV talkshow, somebody was commentingthat since this kind of borrowing isnon sensitive to interest rate, so itcan not be stopped. This is right tosay but the basic reason for this situ-ation is the fact that entire profit ofSBP goes to the government so prac-tically speaking government incursno cost for its borrowings from theSBP, however it adds to inflation asit affect prices in the market forwhich people have to suffer. Further,since head line inflation i.e. CPI hasshown 15per cent increase inSeptember, 2010 on YoY basis andhas been projected 14-15% on aver-age for FY 20100, so as per its bas-ket, food items, the main component(42 per cent) would rise immenselythat can go more than 50 per cent andin case of supply obstructions insome items can rise above 100 percent, This would be the difficult timethat government and people wouldhave to face. From December, 2010onward prices of some perishableitems like Tomato, onion or potatocan come down as their supply from

domestic market would start comingin.

Now, with regard to inflationarypressure, governor SBP, its reportand other economists have indicatedmain reason for it as FederalGovernment borrowing from theSBP. The writer has time and againemphasized that it can not be stoppedby issuing mere statements. FiscalDiscipline as Dr Ashfaque is verymuch emphasizing and rightly soafter coming out of the governmentcan not be obtained without makingstructural changes. Structuralchanges mean that by law govern-ment should not be allowed to bor-row from the SBP in terms of somepercentage of its revenue, say 10 or15 per cent of its revenue. Till this isnot done the fiscal discipline cannotbe achieved at least in Pakistan.

Second issue is that while borrow-ing, government should adopt bal-ance sheet approach. Currently whatis borrowed is put in a well

(Government deposit account -1) andfrom their profit and principal is paidwithout ascertaining that it is taxpayers money or of someone else.The writer before leaving SBP hadworked on this subject and as solu-tion had drafted new legislation forgovernment borrowings. Until that ispolicy is implemented, things wouldnot improve. Since new governor,Shahid Hafeez Karadar is committedto bring fiscal discipline, so he isurging upon to follow this process.Even for any help I or some otherexperts from the market can be con-

tacted.Another issue has been raised by

Dr. Ishrat Husain, former governorof the central bank. He is in supportof expanding personnel loans on theplea that these create middle class inthe society that increases consump-tion and ultimately helps in increas-ing production. Currently, due toincrease in discount rate and KIBOR,the size of personnel loans has comedown drastically as compared to theregional countries.

In principle his argument is right

but the flaw is that to keep budgetarydeficit down government did notborrow heavily in 2002-05 when 6-month Treasury Bills rate hoveraround one per cent and 10-year PIB

around 4 percent. In casegovernmenthad bor-r o w e de x c e s samount atthat time atcheap rate,

this could have been divertedtowards some developmental proj-ects particularly infrastructure andenergy sectors. We are paying forthis flaw. Secondly Pakistan did notdevelop supply chain as India did tosupport consumer loans. Say forexample our two main sectors i.e.auto or cell phones are dependent upto 70-80 per cent on import as wellas their spare parts. This is not thecase in India and they produce 80%of such parts indigenously. ThirdlyIndia is producing its electricitymainly from coal which is not thecase in Pakistan. Even when Dr.Ishrat was governor or Dr. Asfhaquewas advisor to the government, noserious effort was made to use coalfor generating electricity. Thar coalproject is still in doldrums.

In achieving fiscal discipline oneof the major impediments is the sub-sidy provided to the public SectorEnterprises (PSEs). The amount ofsuch subsidy is around Rs 300 bil-

lion. This is waste of money as theirdeficits mainly arise from highadministrative expenses. Since theseare PSEs, when the government triesto raise funds for these through capi-tal market the implicit guarantee hasto come from the government andalmost all the exercises prove futile.Only solution is privatization orrestructuring of these entities in thetrue sense. To achieve this all CEOsof these PSEs should be removed andnew CEOs should be appointedthrough a transparent process and byconstituting new boards of directors.

One more point is important andthat is the PSDP. The funds allocatedfor development always come undercut whenever government feels someheat. This is wrong. The allocationsmay be reviewed but not to be cutdrastically otherwise the country cannot move forward.

Another important issue is that thetax structure is highly fragile. Noone can run the country when taxrecovery is less than 10 per cent ofGDP. IMF/World Bank and otherdonor countries are right in sayingthat if you can not recover taxesfrom the wealthy people in Pakistanthan you have no right to come to us.VAT or RGST or flood tax as directtax is to be levied and should be sup-ported. People living in houses builton acres with number of cars andluxury items simply refuse payingtaxes by saying that the governmentis corrupt and they have no faith inthem. RGST simply means additionof services sector (wholesale andretail) with importers and manufac-turers. Further FBR have to arrange acampaign through which our econo-my which is 50% documented maybe documented further. Thereafterwe can go for agriculture tax and thattoo at provincial level.

Finally one must say that our polit-ical scenario is highly pollutedwhich is not conducive for bringingany stability in the economy. Nobody is listening to any one and thisshould be changed. We must realizethat the situation is different fromthe one faced by previous electedgovernment. We must try to learnlesson from history and move for-ward. There is a debate going on,regarding a report issued by theTransparency International thatPakistan has gone further corrupt.This is true or not is another debate,but one thing is certain that coun-tries with democratic base are lesscorrupt. According to the reportBangladesh which has switched overto democracy after bitter experi-ences of military dictatorships isnow becoming less corrupt afterbeing blessed with democratic setup. This is the lesson which everyone should learn. Some politiciansin our country are looking keen indislodging the current politicalsetup. One may agree or not but thisset up should be given time to com-plete its tenure and after electionsnew government should also begiven the opportunity. Only throughthis process we can achieve a demo-cratic setup and some kind ofaccountability.

The writer is visiting lecturer atSheikh Zayed Sultan Institute,

University of Karachi and BIZTEKE-mail: arifsbp@hotmail.com

Resolving Economic Problems

The process requires complete supportof all political parties irrespective

what they think and like. “

One may agree or not but this setupshould be given time to complete its

tenure and after elections new governmentshould also be given the opportunity“

while borrowing,government

should adoptbalance sheet

approach

FERTILISER000 tonnesUrea Offtake (Jan to July 10) 3,565Urea Offtake (July 10) 580Urea Price (Rs/50 kg) 879DAP Offtake (Jan to July 09) 374DAP Offtake (July 10) 49DAP Price (Rs/50 kg) 2,626

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 09 to June 10) 71,998

Sales (July 09 to June 10) 73,993

Production (July 10) 7,509

Sales (July 10) 4,503

INDUS MOTOR COProduction (July 09 to June 10) 50,557

Sales (July 09 to June 10) 50,823

Production (July 10) 5,162

Sales (July 10) 4,999

HONDA ATLAS CARProduction (July 09 to June 10) 13,500

Sales (July 09 to June 10) 14,120

Production (July 10) 1,560

Sales (July 10) 1,272

DEWAN FAROOQ MOTORSProduction (July 09 to June 10)1,218

Sales (July 09 to June 10) 1,371

Production (July 10) 41

Sales (July 10) 40

BANKING SECTORScheduled bank (Rs in mn)Deposit (August 20,10) 4,595,176

Advances (August 20,10) 3,304,533

Investments (August 20,10) 1,788,671

Spread (July 2010) 7.51%

OIL MARKETING CO(000 tons)MS (Jul 09 to June 10) 1,933

MS (July 10) 188

Kerosene (Jul 09 to June 10) 164

Kerosene (July 10) 15

JP (Jul 09 to June 10) 1,377

JP (July 10) 129

HSD (Jul 09 to June 10) 7,435

HSD (July 10) 664

LDO (Jul 09 to June 10) 75

LDO (July 10) 7

Fuel Oil (Jul 09 to June 10) 9,259

Fuel Oil (July 10) 869

Others (Jul 09 to June 10) 13

Others (July 10) 1

PRICES (Ex-Refinery) RsMS (1 Sep 10) 40.85

MS (1 Aug 10) 41.22

MS % Chg -0.90%

Kerosene (1 Sep 10) 47.14

Kerosene (1 Aug 10) 46.55

Kerosene % Chg 1.27%

JP-1 (1 Sep 10) 47.37

JP-1 (1 Aug 10) 46.78

JP-1 % Chg 1.26%

HSD (1 Sep 10) 50.61

HSD (1 Aug 10) 49.63

HSD % Chg 1.97%

LDO (1 Sep 10) 46.37

LDO (1 Aug 10) 45.29

LDO % Chg 2.38%

Fuel Oil (1 Sep 10) 39,932

Fuel Oil (1 Aug 10) 39,723

Sector Updates

Symbol Close Vol (mn)PSAF 7.52 7.51 AMTEX 5.27 4.90 FATIMA 9.56 3.95 JOVC 4.80 3.84 SILK 2.58 3.01

Symbol Close ChangeUPFL 1,050.00 50.00 PECO 299.00 7.52 IDYM 258.94 7.32 PKGS 106.07 5.05 SAPT 94.20 4.40

Symbol Close ChangeRMPL 1,608.36 -72.7ULEVER 4,037.50 -51.17WYETH 778.09 -31.91BATA 558.20 -28.95SIEM 1,238.99 -10.47

Plus 145Minus 248Unchanged 8

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Tuesday, November 2, 2010 5

Dhiyan

Some rangebound activities are expected in the coming days

where index would be moving between 10,400 and 10,700 points.

Investors are therefore advised to wait for dips. No change in the

discount rate by the central bank in the next monetary policy

would be a supporting factor for the market but due to higher local

oil prices, inflation might rise in the country and spur further mon-

etary tightening. Correction would continue today as well.

Mohsin Adhi, Director Alfa Adhi Securities

Hamad Aslam, Head of Research BMA Capital

The technical correction is likely to prevail till 10,400 levels whereforeign investors would remain the driving force for the market.Many stocks are in overbought zone therefore investors areadvised to accumulate selective stocks at dips like APL, POL, andFFBL. The launch of Margin Trading System (MTS) would be theonly factor that would trigger the market in the coming days.Market would remain negative today.

WEEK MIGHT START ON NEGATIVE NOTE

Opening 10,598.40

Closing 10,538.27

Change 60.13

% Change 0.57

Turnover (mn) 80.54

Opening 3,300.73

Closing 3,280.67

Change 20.06

% Change 0.61

Turnover (mn) 4.06

Opening 2,696.46

Closing 2,673.72

Change 22.74

% Change 0.84

Turnover (mn) 0.16

NEW YORK: Teisuke Kitayama, right, President and Representative Director of Sumitomo Mitsui FinancialGroup, holds the order slip for the first 100 shares of his company's stock as it lists at the

New York Stock Exchange here on Monday.-Reuters

ANNOUNCEMENTS

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

(Colony) Thal 1st Qtr - -1.154 -0.21

Agritech Limited(Consolidated) 1st Qtr - 271.875 0.69

Agritech Limited(Stand Alone) 1st Qtr - 270.531 0.69

AKD Capital 1st Qtr - -0.682 0.27

Ali Asghar Textile 1st Qtr - 1.824 0.01

AL-Khair Gadoon 1st Qtr - -22.019 -2.18

AL-Qadir TextileXD 1st Qtr - -2.886 -0.38

AMZ Ventures 'A' 1st Qtr - 3.282 0.11

Annoor Textile 1st Qtr - -0.405 -0.23

Apollo TextileXD 1st Qtr - -14.794 -1.79

Artistic Denim XD 1st Qtr - 75.225 0.90

Azam TextileXD 1st Qtr - 23.847 1.80

See # 1 Page 11

Nawaz Ali

KARACHI: Technical correc-tion remained the order of thefirst trading day of the week atKarachi Stock Exchange(KSE) and forced it to closeunder 10,600 points level onMonday.

The benchmark KSE 100-Index ended 60 points down ata level of 10,538 points whileKSE 30-Index lost 65 points toclose at 10,089 points and KSEAll Share Index decreased by41 points to close at 7,340points.

Trading began on a positivenote at 2 points up; after whichit managed to stay in the bull-ish territory during the majorpart of the day where indextouched an intra-day high of

10,667 points (+ive 68 points).However some profit taking atthe inflated levels particularlyin energy and banking stockssent the index to the red zone ata couple of times where duringthe final hour of the session ittouched the lowest level of theday of 10,528 points (-ive 69points).

According to experts markethas been witnessing a result-based rally but now as theresults season is almost overand there aren't any major trig-gers left for the marketinvestors decided to bookgains.

Apart from it, investors werealso worried over the likelyimpact of the recent hike inpetroleum prices on the econo-my. Therefore participation of

investors also stayed on thelower sides as reflected by thevolumes.

"The recent increase in petro-leum products besides invitingsevere criticism and threats ofshut down from local manufac-turing and transport sector, theimpact on inflation along withrising trend in government bor-rowing continues to keep thethreat of rising trend in localinterest rate on high side", saidan equity dealer.

A total of around 80.5 mil-lion shares traded during theday which is 23.4 millionshares less as compared to aturnover of 103.9 millionshares on Friday.

However foreign investorswere mainly on the buying side

See # 3 Page 11

Tech correctionhangs in at KSE,so does the losses

HONG KONG/SHANGHAI:Shanghai shares hit six-monthhighs and Hong Kong's bench-mark leapt over 2 per cent afterupbeat Chinese data added to arally fuelled by strong corpo-rate earnings and prospects ofrobust foreign inflows.

The official purchasing man-agers' index (PMI) rose to a six-month high of 54.7 in Octoberfrom 53.8 in September, blow-ing past expectations. TheHSBC PMI, a private compan-ion, climbed to 54.8 from 52.9.

Hong Kong's Hang Sengindex rose 2.4 per cent, itsbiggest one-day percentagegain since mmid-June andrecovering over three-quartersof its decline over the prior twoweeks, in a broad rally led bybanks and property developers.

China's key stock index rose2.5 per cent with materials andenergy sectors posting thebiggest gains as a weaker dollarpushed up prices of commodi-

ties.But the index, which posted

its biggest monthly gain in 15months in October, is down 7per cent on the year.

Traders are now shiftingfocus back to the FederalReserve's two-day policy meet-ing starting Tuesday. The Fed isexpected to buy at least $500billion of Treasury debt overfive months to support USgrowth.

"All eyes are on the Fed's sec-ond round of quantitative eas-ing which the market is expect-ing," said Cao Xuefeng, analystat Huaxi Securities in Chengdu.

"I am looking quitefavourably on the market rightnow," he said.

Coal producer ChinaShenhua Energy rose 3.4 percent after posting a 12 per centrise in profit on strong demandfrom its home market.

Datong Coal gained 6.8 percent, while Zijin Mining

jumped 6.3 per cent.China Baoshan Iron & Steel,

the country's biggest listedsteelmaker, gained 1.7 per centafter its third quarter earningsand the manufacturing dataallayed fears of a slowdown insteel demand.

Smaller rival Inner MongoliaBaotou Steel jumped to its 10per cent limit.

China Construction Bankrose 3.4 per cent after the com-pany emerged as one of the toppicks amongst Chinese banksfor brokers covering the sectorafter the company's postedrecord profit last week.

CCB's net interest marginoutperformed most of its peersin the third quarter, said JamesLiu, analyst at CIMB.

Of 35 analysts covering thebank, 33 rate the bank a "buy"or a "strong buy", with theother two ratings a "hold",according to Thomson ReutersStarmine.-Reuters

China hits 6-mth high,HK rallies on PMI data

MUMBAI: Indian shares start-ed November on the front foot,notching 1.6-per cent gains onMonday, as global investorscheered robust manufacturingoutput data from world's fastestgrowing major economies --China and India.

Market focus on Tuesday willbe on the Reserve Bank ofIndia policy review and thetwo-day US Federal Reservemeeting, which ends onWednesday.

Strong October auto salesand forecast-beating resultsfrom energy conglomerateReliance Industries also helpedthe sentiment, in a sessionmarred by technical glitch onthe Bombay Stock Exchange.

Trade was halted for morethan two-and-a-half hours onthe BSE, the smaller of the twoleading stock exchanges in thecountry.

ICICI Bank led the gains androse as much as 7.4 per cent toa 34-month high of 1,248rupees, as brokerages wereupbeat on the top private-sector

lender, and raised their targetprices on the stock, after it post-ed forecast-beating results lastweek.

Credit Suisse lifted its targetprice on ICICI Bank, whilemaintaining an outperform rat-ing, while HSBC Securitiesraised its target price on thestock reiterating overweight.

The 30-share BSE indexclosed 1.61 per cent or 323.29points higher at 20,355.63, with26 of its components closing inthe green.

"The PMI data was obvious-ly a big factor. Also, there areexpectations that the Coal Indiarefund money will return to themarket," said Gajendra Nagpal,chief executive at UniconFinancial in New Delhi.

"That, by no means is smallmoney," referring to applica-tion money of around $50 bil-lion received for $3.5 billionCoal India's share sale.

Growth in China and Indiapowered ahead last month, pro-viding welcome support for the

See # 4 Page 11

Indian shares startNov good ; ICICI up

TOKYO: Japan's Nikkei aver-age hit a seven-week closinglow on Monday, hit by a drop inshares of Honda Motor after itsearnings disappointedinvestors, with the yen'sstrength near a record highagainst the dollar put an addi-tional damper on confidence.

Still, investors were reluctantto actively place bets before aFederal Reserve policy-settingmeeting on Nov. 2-3, in whichit is expected to decide on moremonetary easing.

The Bank of Japan hasbrought forward its next meet-ing to Nov. 4-5 from mid-November in a move seen as aprecaution in case it needs to

respond to Fed action.Honda shares lost 5 per cent

after the automaker's rise in itsfull-year operating profit fore-cast left it below expectations.Analysts said the automaker'searnings news was not too neg-ative but the stock was dentedby profit-taking and worriesabout a further strengthening inthe yen.

"While other Asian marketswere helped by China's strongmanufacturing data, Japan isweighed down by the strongyen. That said, the overallinvestor mood is waiting andseeing ahead of the US mid-term election, the Fed and the

See # 6 Page 11

Nikkei closes 7-wklow; Honda skids

Miners,banks

lift FTSE LONDON: Miners ledBritain's top shares higher onMonday, boosted by strongdata from China, but gainswere tempered as investorslooked ahead to the outcome ofthe US Federal Reserve's meet-ing on Wednesday.

Miners rose after data show-ing demand in China, theworld's biggest consumer ofmetals, was holding up.

The world's biggest integrat-ed zinc producer Xstratatopped the FTSE leaderboard,up 3.7 per cent, supported bystrong metal prices as the dollarweakened on the prospect ofmore quantitive easing fromthe United States.

The FTSE 100 closed 19.46points, or 0.3 per cent, higher at5,694.62, having fallen 1.2 percent last week. It earliertouched an intraday high of5,733.01.

"Today's movements thoughare indicative of how apprehen-sive investors are this week as

See # 5 Page 11

US stocks mid-day

Wall St riseson data;

industrialshares up

NEW YORK: US stocksedged higher on Monday as USand Chinese data underscoredthe view that the recovery is ontrack, fueling gains in energyand industrial shares.

Weakness in the euro againstthe dollar helped to limit theadvance, however, with thedollar having developed aninverse relationship with stockslately.

The market's positive start toNovember followed gains of12.5 per cent by the benchmarkS&P 500 in September andOctober.

The S&P energy index rose0.9 per cent as reportsshowed US factory activity inOctober expanded and con-struction spending rose unex-pectedly in September. Otherdata showed manufacturingin China expanded at thefastest pace in six months inOctober.

See # 7 Page 11

Mostly up after China PMI data;Thailand at 14-yr high

South East Asian stocks

Upbeat economic data lifts EU shares; Fed eyed

Tuesday, November 2, 20106

Volume 80,537,296

Value 1,980,761,892

Trades 43,546

Advanced 145

Declined 248

Unchanged 8

Total 401

Current 7,340.53

High 7,426.42

Low 7,334.17

Change i41.88

Current 10,538.27

High 10,667.09

Low 10,528.85

Change i60.13

Current 10,089.18

High 10,222.83

Low 10,083.94

Change i65.73

Market KSE 100 Index All Share Index KSE 30 Index

Current 16,622.60

High 16,821.31

Low 16,610.96

Change i92.76

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

Din Textile Mills Limited

DINT closed down -0.42 at 25.50. Volume was 1,617 per cent above

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

normal. The company's profit after taxation stood at Rs216.019 million

which translates into an Earning Per Share of Rs11.66 for the 1st quar-

ter of current fiscal year (1QFY11).

DINT is currently 2.2 per cent above its 200-day moving average and

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

average volatility over the last 10 trading sessions. Volume indicators

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

Trend forecasting oscillators are currently bearish on DINT.

RSI (14-day) 51.35 Total Assets (Rs in mn) 3,166.89

MA (10-day) 24.68 Total Equity (Rs in mn) 1,102.67

MA (100-day) 26.49 Revenue (Rs in mn) 3,712.39

MA (200-day) 25.85 Interest Expense 142.46

1st Support 24.80 Profit after Taxation 32.55

2nd Support 24.10 EPS 09 (Rs) 1.756

1st Resistance 26.60 Book value / share (Rs) 59.51

2nd Resistance 27.70 PE 10 E (x) 0.55

Pivot 25.90 PBV (x) 0.43

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

KESC closed up 0.10 at 2.19. Volume was 713 per cent above average

(trending) and Bollinger Bands were 17 per cent narrower than normal.

The company's loss after taxation stood at Rs1.782 billion which trans-

lates into a Loss Per Share of Rs0.09 for the 1st quarter of current fis-

cal year (1QFY11).

KESC is currently 14.4 per cent below its 200-day moving average and

is displaying an upward trend. Volatility is extremely high when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect very strong flows of volume into KESC (bullish). Trend

forecasting oscillators are currently bullish on KESC.

RSI (14-day) 55.03 Total Assets (Rs in mn) 130,784.14

MA (10-day) 2.15 Total Equity (Rs in mn) (8,737.47)

MA (100-day) 2.20 Revenue (Rs in mn) 85,224.08

MA (200-day) 2.56 Interest Expense 5,619.80

1st Support 2.16 Loss after Taxation (15,484.94)

2nd Support 2.07 EPS 09 (Rs) (1.176)

1st Resistance 2.34 Book value / share (Rs) (0.66)

2nd Resistance 2.43 PE 10 E (x) -

Pivot 2.25 PBV (x) (3.30)

Karachi Electric Supply Corp Ltd

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

DSIL closed down -0.19 at 1.90. Volume was 1,053 per cent above

average (trending) and Bollinger Bands were 50 per cent wider than nor-

mal. The company's loss after taxation stood at Rs23.381 million which

translates into a Loss Per Share of Rs0.39 for the year ended FY10.

DSIL is currently 23.9 per cent below its 200-day moving average and

is displaying an upward trend. Volatility is extremely low when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect moderate flows of volume into DSIL (mildly bullish).

Trend forecasting oscillators are currently bullish on DSIL.

RSI (14-day) 59.23 Total Assets (Rs in mn) 838.18

MA (10-day) 1.80 Total Equity (Rs in mn) (298.62)

MA (100-day) 1.95 Revenue (Rs in mn) 653.74

MA (200-day) 2.50 Interest Expense 130.20

1st Support 1.73 Loss after Taxation (984.14)

2nd Support 1.53 EPS 09 (Rs) (16.402)

1st Resistance 2.25 Book value / share (Rs) (4.98)

2nd Resistance 2.57 PE 10 E (x) -

Pivot 2.05 PBV (x) (0.38)

D. S. Industries Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

MYBL closed down -0.09 at 2.01. Volume was 214 per cent above

average (trending) and Bollinger Bands were 45 per cent narrower than

normal. The company's loss after taxation stood at Rs1.392 billion

which translates into a Loss Per Share of Rs0.74 for the nine months of

current calendar year (9MCY10).

MYBL is currently 38.1 per cent below its 200-day moving average and

is displaying a downward trend. Volatility is extremely low when com-

pared to the average volatility over the last 10 trading sessions. Volume

indicators reflect volume flowing into and out of MYBL at a relatively

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

RSI (14-day) 40.36 Total Assets (Rs in mn) 35,490.71

MA (10-day) 2.15 Total Equity (Rs in mn) 5,104.86

MA (100-day) 2.37 Revenue (Rs in mn) 3,368.22

MA (200-day) 3.25 Interest Expense 2,881.90

1st Support 1.95 Loss after Taxation (1,639.83)

2nd Support 1.84 EPS 09 (Rs) (3.092)

1st Resistance 2.21 Book value / share (Rs) 9.63

2nd Resistance 2.36 PE 10 E (x) -

Pivot 2.10 PBV (x) 0.21

Mybank Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,348.15 1,363.01 1,336.10 1,340.42 -7.73 -0.57

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

3,341,323 - - 65,194.15 mn 1,059,141.94 mn 1,358.03

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

10.09 3.28 32.54 55.94 5.55 1,340.42

Attock PetroleumXDXB 691 5.08 297.47 299.89 292.01 293.32 -4.15 233768 374.20 287.99 250 - 300 20

Attock Refinery 853 5.65 100.36 102.10 100.35 100.80 0.44 779941 103.39 73.47 - - - -

BYCO Petroleum 3921 - 10.65 10.78 10.49 10.51 -0.14 456905 12.55 9.62 - - - -

Mari Gas Company 735 16.06 118.96 120.70 118.19 118.49 -0.47 16589 135.84 106.00 32.17 100B 31 -

National Refinery XD 800 3.24 220.70 224.50 218.00 218.39 -2.31 35356 233.50 183.25 125 - 200 -

Oil & Gas Development 43009 10.41 153.94 155.70 153.25 153.87 -0.07 666169 156.00 133.00 82.5 - 55 -

Pak Petroleum 11950 7.51 186.85 188.65 184.00 184.61 -2.24 622053 214.10 168.70 130 20B 90 20B

Pak Oilfields XD 2365 5.65 242.42 244.50 239.00 239.32 -3.10 776928 251.24 213.17 180 - 255 -

Pak Refinery Limited 350 - 74.97 76.20 74.51 74.83 -0.14 4564 85.90 48.26 - - - -

PSO 1715 4.45 265.73 268.90 262.70 263.19 -2.54 198912 284.60 233.10 50 - 80 -

Shell Gas LPG 226 - 32.86 32.25 32.05 32.15 -0.71 1700 40.28 27.32 - - - -

Shell Pakistan 685 9.35 182.62 185.50 182.15 182.34 -0.28 5343 237.00 182.05 330 - 40 -

Paid up Last 60 days 2009 2010

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

948.47 957.97 936.78 940.38 -8.09 -0.85

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

11,918,824 - - 47,070.70 mn 120,713.26 mn 953.77

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

6.59 0.57 8.64 16.68 2.53 940.38

Amtex Limited XD 2415 11.98 6.27 5.80 5.27 5.27 -1.00 4897558 20.45 5.27 - - 30 -

Apollo Textile XD 83 - 4.00 4.50 4.50 4.50 0.50 1000 4.50 3.00 - - - -

Artistic Denim XD 840 5.41 20.00 19.49 19.10 19.46 -0.54 9938 24.05 17.55 20 - 20 -

Azam Textile XD 133 0.33 2.70 2.99 2.23 2.40 -0.30 4907 3.45 1.35 - - 7.5 -

Azgard Nine 4493 - 10.85 11.05 10.20 10.33 -0.52 1628632 12.32 8.55 - - - -

Bannu Woolen XD 76 0.45 11.85 12.85 11.50 12.85 1.00 32096 14.00 7.50 - - 20 -

Bata (Pak) 76 4.63 587.15 609.00 557.80 558.20-28.95 4697 624.00 436.00 120 - - -

Bilal Fibres 141 0.37 1.57 2.00 1.25 1.36 -0.21 4507 2.00 0.55 - - - -

Chakwal Spinning XD 400 0.53 1.76 1.72 1.20 1.20 -0.56 12003 2.59 0.70 - - 5 -

Chenab Limited 1150 - 3.23 3.35 3.15 3.15 -0.08 27001 4.61 2.93 - - - -

Chenab Ltd Pref 800 - 2.60 1.75 1.60 1.61 -0.99 1255501 2.60 1.60 - - - -

Colony Mills Ltd 2442 4.44 2.85 2.99 2.80 2.84 -0.01 30064 3.83 2.23 - - - -

Crescent Jute 238 - 0.68 1.00 0.60 0.79 0.11 7255 1.90 0.16 - - - -

D S Ind Ltd 600 - 2.09 2.37 1.85 1.90 -0.19 1405222 2.49 1.44 - - - -

Dewan Farooque Spin. 600 4.40 5.15 5.90 4.25 5.45 0.30 4000 5.90 2.05 - - - -

Dewan Khalid Textile 57 0.07 1.25 1.02 0.85 0.95 -0.30 831 1.90 0.26 - - - -

Dewan Mushtaq Textile 34 0.14 4.70 4.69 4.60 4.60 -0.10 1000 4.70 1.52 - - - -

Din TextileXDXB 204 0.55 25.92 27.00 25.20 25.50 -0.42 101417 30.90 20.80 - - 20 10B

Ellcot Spinning XD 110 0.63 20.65 21.00 20.70 20.70 0.05 850 25.45 17.21 7.5 - 35 -

Gadoon Textile XD 234 0.54 46.76 49.09 49.09 49.09 2.33 10875 49.09 33.80 - - 70 -

Gul Ahmed Textile XD 635 3.55 23.56 24.73 24.73 24.73 1.17 685 25.50 19.99 5 - 12.5 -

Gulshan SpinningXDXB 222 0.88 7.39 7.50 7.00 7.21 -0.18 2583 10.30 5.31 - 10B 10 20B

Hira Txt. Mills Ltd XD 716 0.72 3.87 3.90 3.82 3.85 -0.02 77476 4.88 2.52 - - 10 -

Ibrahim Fibres XD 3105 3.08 38.40 40.30 36.48 39.18 0.78 48501 40.30 34.05 - - 20 -

Idrees Textile XD 180 3.53 3.30 3.50 3.25 3.25 -0.05 1511 5.35 2.56 - - 10 -

Janana D Mal 43 0.29 18.40 19.24 17.41 17.43 -0.97 10601 20.50 9.95 - - - -

Kohinoor Ind 303 - 1.49 1.59 1.45 1.46 -0.03 92384 1.95 1.01 - - - -

Kohinoor Mills 509 - 2.59 3.49 2.60 3.49 0.90 501 3.79 1.52 - - - -

Kohinoor Spinning XD 1300 0.36 1.19 1.00 1.00 1.00 -0.19 386 2.00 0.56 - - 5 -

Kohinoor Textile 1455 3.71 5.31 5.60 5.20 5.20 -0.11 6120 6.30 4.00 - - - -

Masood Textile XD 600 2.01 20.00 19.01 19.00 19.01 -0.99 1561 23.00 18.51 15 - 15 100R

Mehmood Textile XD 150 0.70 60.00 57.00 57.00 57.00 -3.00 150 74.50 55.00 4050.2257B 60 -

Mian Textile 221 - 0.59 0.50 0.50 0.50 -0.09 20000 0.98 0.01 - - - -

Mohd Farooq 189 - 0.95 0.99 0.90 0.97 0.02 3994 1.82 0.35 - - - -

Mukhtar Textile 145 - 0.55 0.65 0.37 0.40 -0.15 1012 0.99 0.20 - - - -

Nagina Cotton 187 0.75 15.00 14.70 14.25 14.70 -0.30 1976 17.50 12.00 - - 20SD -

Nishat (Chunian) XD 1586 1.68 20.89 21.29 20.25 20.28 -0.61 923005 23.55 14.64 - 50R 15 -

Nishat Mills XD 3516 4.38 51.71 51.98 51.00 51.06 -0.65 530906 54.27 40.81 20 - 25 45R

Pak Synthetic 560 2.03 6.11 6.40 6.00 6.00 -0.11 15255 7.90 5.16 12.5 - - -

Paramount Spin. XDXB 174 0.65 8.26 8.99 8.95 8.95 0.69 1000 11.25 6.00 - 10B 10 10B

Premium Textile XD 62 0.49 29.84 31.00 29.50 31.00 1.16 505 31.03 25.71 7.5 - 50 -

Prosperity XD 185 1.09 14.30 14.40 13.30 14.30 0.00 992 21.47 12.51 20 - 30 -

Quetta Textile XD 130 0.50 29.45 30.92 27.98 30.50 1.05 1004 52.29 25.80 - 632R 20 -

Ravi Textile 250 - 1.77 1.79 1.70 1.72 -0.05 132418 3.96 1.38 - - - -

Reliance Weaving 308 0.69 9.63 10.48 9.41 9.95 0.32 102 12.00 6.91 - - 25SD -

Rupali Poly XD 341 4.08 34.00 34.50 32.30 32.49 -1.51 1610 36.75 31.35 40 - 40 -

Saif Textile 264 0.39 5.78 6.49 4.78 4.83 -0.95 56324 6.49 2.01 - - - -

Salfi Textile XD 33 0.14 29.92 31.41 31.00 31.41 1.49 3020 31.41 20.50 - - 25 -

Sally Textile XD 88 0.23 4.50 5.00 4.37 4.64 0.14 12658 6.20 2.74 - - 10 -

Samin Textile XR 134 5.73 6.35 6.87 6.45 6.87 0.52 11001 8.69 5.02 - - - 100R

Sana Ind XD 55 2.43 31.04 32.00 30.57 32.00 0.96 216 38.40 27.50 35 - 60 -

Service Ind 120 6.76 207.95 197.56 197.56 197.56-10.39 1473 255.29 176.00 200 - - -

Service Textile 44 - 0.74 0.75 0.75 0.75 0.01 7500 0.75 0.14 - - - -

Shahpur Textile 140 0.71 0.69 0.95 0.49 0.51 -0.18 155319 1.90 0.18 - - - -

Shahtaj Textile XD 97 - 17.16 17.80 17.01 17.01 -0.15 3104 21.90 14.75 20 - 45 -

Shahzad Textile XD 180 0.24 5.00 4.25 4.00 4.01 -0.99 911 9.48 3.25 - - 5 -

Sunrays Textile XD 69 0.52 32.10 33.70 33.69 33.70 1.60 200 35.00 30.03 10 - - -

Suraj Cotton XD 180 1.11 31.85 31.05 31.00 31.03 -0.82 2000 37.50 29.00 15 - 50 -

Tata Textile XD 173 0.20 20.00 21.00 20.85 21.00 1.00 10680 21.42 14.02 - - 25 -

Thal LimitedXDXB 307 3.93 91.40 93.10 91.50 91.97 0.57 77958 112.80 86.50 20 20B 80 20B

Treet Corp 418 7.43 44.45 46.67 44.45 46.67 2.22 218498 52.14 37.20 - - - -

Tri-Star Poly 215 - 1.02 0.75 0.72 0.72 -0.30 12024 1.02 0.26 4 - - -

Yousuf Weaving 400 0.47 1.25 1.49 1.20 1.36 0.11 27911 1.89 0.73 - - - -

Zil Limited XD 53 2.94 44.00 45.30 43.72 43.99 -0.01 2082 48.75 33.00 40 10B 35 -

Paid up Last 60 days 2009 2010

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,127.88 1,137.79 1,113.49 1,115.33 -12.55 -1.11

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

219,751 - - 3,763.71 mn 5,289.33 mn 1,163.87

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

2.46 0.26 10.64 6.27 2.55 1,115.33

Pak Elektron 1174 3.35 13.70 13.95 13.25 13.29 -0.41 136752 15.43 12.17 - 10B - 10B

Tariq Glass Ind 231 2.03 17.66 18.00 16.80 17.00 -0.66 82990 18.99 14.50 - - 17.5 -

Paid up Last 60 days 2009 2010

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,514.83 1,517.26 1,492.73 1,505.06 -9.77 -0.65

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

118,647 - - 11,335.33 mn 194,347.07 mn 1,514.83

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

32.72 9.92 30.30 30.57 0.93 1,497.25

AL-Noor Sugar 186 4.55 42.94 44.75 42.00 44.75 1.81 10175 45.99 39.25 40 - - -

Crescent Sugar 214 12.55 6.00 6.65 6.65 6.65 0.65 1001 7.80 5.50 - - - -

Dewan Sugar 365 - 1.76 1.78 1.78 1.78 0.02 1500 2.90 1.11 - - - -

Habib Sugar 600 6.14 29.50 30.05 29.40 29.80 0.30 24201 32.25 25.00 35 25B - -

Habib-ADM Ltd 200 11.67 12.50 12.89 12.50 12.60 0.10 2105 16.98 11.90 40 - 40 -

Ismail Ind XD 505 33.92 75.89 77.00 72.16 75.99 0.10 700 77.70 53.99 15 - 17.5 110R

Mithchells Fruit 50 8.21 65.54 68.81 62.50 67.60 2.06 136 76.00 61.50 20 - - -

National Foods XD 414 15.69 42.18 42.99 42.00 42.05 -0.13 1171 65.29 39.01 - 25B 12 -

Noon Pakistan XD 48 2.98 21.89 22.39 20.80 20.85 -1.04 1852 30.27 18.95 - 10B 12 -

Noon Sugar 165 - 12.85 12.50 12.00 12.38 -0.47 16442 13.65 10.20 50 10B - -

Rafhan Maize 92 2.55 1681.06 1725.00 1599.00 1608.36 -72.70 3040 1733.55 1229.00 900 - 600 -

S S Oil 57 0.29 3.01 3.40 3.05 3.40 0.39 2000 3.50 2.51 - - - -

Shahmurad Sugar 211 16.30 11.25 11.25 11.00 11.25 0.00 1582 11.90 7.70 15 - - -

Tandlianwala 1177 280.45 32.00 32.50 30.85 30.85 -1.15 52002 35.50 25.25 - - - -

Unilever Foods 62 14.07 1000.00 1050.00 1000.01 1050.00 50.00 204 1071.00 816.00 340 - 350 -

Paid up Last 60 days 2009 2010

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,098.43 1,108.49 1,088.01 1,094.58 -3.84 -0.35

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

204,553 - - 6,768.53 mn 39,689.64 mn 1,107.18

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

4.03 1.02 25.35 20.42 5.07 1,094.58

Atlas Battery 101 4.62 155.91 157.50 154.16 154.68 -1.23 6026 199.98 131.00 100 20B 100 20B

Atlas Honda 626 7.24 103.83 104.00 104.00 104.00 0.17 202 122.51 92.00 80 30B - -

Dewan Motors 890 - 1.50 1.55 1.46 1.50 0.00 86497 2.08 1.16 - - - -

General Tyre 598 18.58 21.91 22.00 21.55 21.55 -0.36 580 26.70 21.55 - - 20 -

Ghandhara Nissan 450 3.33 4.68 5.00 4.60 4.80 0.12 68020 6.10 4.03 - - - -

Ghani Automobile Ind 200 6.56 4.95 4.99 4.02 4.20 -0.75 15002 5.55 3.55 - - - -

Honda Atlas Cars 1428 - 11.55 11.79 11.27 11.27 -0.28 1650 13.22 9.65 - - - -

Indus Motors 786 5.28 232.00 232.00 230.00 231.19 -0.81 2295 271.00 212.29 100 - 150 -

Pak Suzuki 823 11.77 73.09 75.88 73.00 73.90 0.81 14385 88.99 69.25 5 - - -

Sazgar EngineeringXDXB 150 3.78 20.50 20.50 19.53 20.24 -0.26 8870 27.58 19.50 - 20B 10 20B

Transmission 117 - 2.00 2.80 1.70 2.09 0.09 1002 3.25 1.53 2 - - -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,518.43 1,528.03 1,499.11 1,509.28 -9.15 -0.60

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

278,067 - - 1,336.62 mn 31,302.99 mn 1,541.45

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

7.99 3.04 38.02 131.49 16.45 1,509.28

Ados Pak 66 1.08 16.76 17.00 16.72 16.75 -0.01 10361 21.96 14.62 20 - - -

AL-Ghazi Tractor 215 4.84 202.33 203.75 201.80 202.13 -0.20 1905 227.45 200.00 400 - 150 -

Bolan CastingXDXB 104 - 45.54 47.50 44.85 45.90 0.36 1011 51.99 36.10 - 20B 25 10B

Dewan Auto Engineering 214 - 0.75 0.70 0.65 0.65 -0.10 3005 1.00 0.36 - - - -

Ghandhara Ind 213 10.19 12.00 11.44 11.00 11.00 -1.00 149028 19.00 11.00 - - - -

Millat Tractors XB 366 6.22 480.89 482.00 472.00 475.29 -5.60 112719 597.90 390.00 450 25B 650 25B

Paid up Last 60 days 2009 2010

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

902.80 919.90 904.41 915.09 12.29 1.36

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

775,798 - - 3,043.31 mn 33,923.09 mn 915.09

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

2.62 1.15 43.91 15.55 5.94 896.20

Cherat PapersackXDXB 115 1.75 51.39 52.82 48.85 49.13 -2.26 119073 53.19 34.00 - - 20 25B

ECOPACK Ltd 230 - 2.00 2.23 2.00 2.10 0.10 10204 2.69 1.70 - - - -

Ghani GlassXDXB 1067 4.43 48.00 48.25 47.50 48.25 0.25 5750 61.99 45.75 30 10B 25 10B

MACPAC Films 389 - 3.00 2.90 2.90 2.90 -0.10 199 4.50 1.60 - - - -

Merit Pack 47 44.88 17.50 18.39 17.00 17.95 0.45 1102 18.99 11.81 - - - -

Packages Ltd 844 54.39 101.02 106.07 103.83 106.07 5.05 635906 123.00 98.00 32.5 - - -

Tri-Pack Films 300 7.55 102.46 104.40 102.00 103.45 0.99 3560 106.00 91.00 100 - - -

Paid up Last 60 days 2009 2010

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

975.31 987.17 960.14 965.17 -10.14 -1.04

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

3,411,907 - - 54,792.74 mn 68,803.08 mn 975.31

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

7.74 0.55 7.10 19.04 2.46 965.17

Al-Abbas Cement 1828 - 3.05 3.08 2.80 3.00 -0.05 23107 4.20 2.80 - - - 100R

Attock Cement XD 866 6.11 58.30 58.75 57.60 58.00 -0.30 11659 70.00 57.60 50 20B 50 -

Berger Paints 182 - 15.53 15.90 15.00 15.20 -0.33 10948 18.75 14.01 - - - 122R

Cherat Cement 956 25.39 11.93 12.10 11.00 11.17 -0.76 28785 12.50 8.90 - - - -

Dadabhoy Cement 982 12.69 1.51 1.65 1.55 1.65 0.14 54102 2.59 1.30 - - - -

Dewan Cement 3574 - 1.55 1.65 1.50 1.53 -0.02 72278 1.99 1.30 - - - -

DG Khan Cement Ltd 3651 112.00 27.33 27.63 26.80 26.88 -0.45 1536667 28.30 23.02 - 20R - 20R

EMCO Ind 350 3.05 2.99 2.98 2.46 2.56 -0.43 161 4.70 2.11 - - - -

Fauji Cement 6933 14.55 4.82 4.93 4.80 4.80 -0.02 112580 5.50 4.51 - - - -

Fecto Cement 502 3.13 6.30 6.10 5.80 6.00 -0.30 4040 6.90 4.25 - 10B - -

Flying Cement Ltd 1760 - 1.90 1.95 1.75 1.78 -0.12 77061 2.22 1.74 - - - -

Kohat Cement 1288 - 6.15 6.24 6.10 6.10 -0.05 58725 6.50 5.50 - - - -

Lafarge Pakistan Cement13126 - 2.91 3.03 2.94 2.97 0.06 477770 3.65 2.60 - - - -

Lucky Cement XD 3234 6.45 73.07 73.48 71.75 71.81 -1.26 534740 74.00 62.60 40 - 40 -

Maple Leaf Cement 5261 1.29 2.85 2.99 2.66 2.77 -0.08 409101 3.48 2.51 - - - -

Safe Mix Concrete 200 - 6.15 6.48 5.72 6.02 -0.13 1038 9.47 5.50 - - - -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

919.57 926.56 897.08 913.83 -5.74 -0.62

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

305,269 - - 3,596.11 mn 8,687.92 mn 934.81

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

2.85 0.94 33.10 30.91 10.86 913.83

Crescent Steel 565 3.86 24.50 24.80 24.16 24.69 0.19 1950 28.37 23.75 - - 30 -

Dost Steels Ltd 675 - 2.81 2.80 2.63 2.68 -0.13 39364 3.39 1.65 - - - -

Huffaz Pipe 555 8.68 14.62 14.40 13.62 13.88 -0.74 30305 16.75 12.25 - 30B - -

International Ind 1199 9.38 45.58 46.00 44.05 45.00 -0.58 36277 70.71 44.05 - - 40 20B

Siddiqsons Tin XD 785 10.24 9.01 9.01 9.00 9.01 0.00 197373 10.80 8.00 10 - 7.5 -

Paid up Last 60 days 2009 2010

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,085.43 1,087.57 1,043.64 1,070.52 -14.91 -1.37

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

225,696 - - 1,186.83 mn 2,966.60 mn 1,122.22

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

5.38 0.40 7.47 25.28 4.70 1,070.52

Century Paper 707 - 16.26 16.41 15.28 15.75 -0.51 223183 21.80 15.28 - 425R - -

Pak Paper ProductXDXB 50 7.69 41.00 40.00 39.95 40.00 -1.00 1253 62.85 38.61 20 - 25 33.33B

Security Paper 411 6.17 40.00 40.00 39.00 39.99 -0.01 1260 48.00 38.10 50 - 50 -

Paid up Last 60 days 2009 2010

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,182.00 1,198.32 1,178.19 1,186.45 4.45 0.38

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

8,647,085 - - 52,251.88 mn 265,505.89 mn 1,191.13

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

7.44 2.60 35.00 48.81 6.56 1,181.38

Bawany AirXDXR 68 74.17 8.99 9.98 8.02 8.90 -0.09 10537 15.89 8.02 - - 5 10R

BOC (Pak) 250 10.56 77.59 78.00 75.30 76.89 -0.70 1598 87.99 66.90 90 - 15 -

Clariant Pak 273 6.03 157.23 162.00 157.00 157.83 0.60 48293 173.99 152.55 125 - - -

Dawood Hercules 1203 7.01 168.98 169.00 167.60 169.00 0.02 2112 182.00 155.38 40 10B 40 -

Descon Chemical 1996 - 2.34 2.40 2.16 2.17 -0.17 21236 2.98 1.78 - - - -

Descon Oxychem Ltd. 1020 - 5.72 6.00 5.60 5.70 -0.02 382946 6.20 3.20 - - - -

Dewan Salman 3663 - 1.64 1.73 1.60 1.62 -0.02 230819 2.05 1.28 - - - -

Engro Corporation Ltd 3277 9.61 175.35 176.10 174.70 174.91 -0.44 265846 190.80 165.60 6010B 40R 40 -

Engro Polymer 6635 - 13.15 13.85 13.19 13.27 0.12 1311936 15.20 10.62 - 27.5R - -

Fatima Fertilizer 22000 - 9.54 9.70 9.50 9.56 0.02 3953931 11.98 9.02 - - - -

Fauji Fertilizer 6785 7.82 106.52 108.65 106.71 107.90 1.38 1712539 112.05 102.96 131.5 10B 95 -

Fauji Fert. Bin Qasim 9341 5.83 31.16 31.44 30.80 30.89 -0.27 1583002 31.50 26.59 40 - 17.5 -

Ghani Gases Ltd 725 9.19 12.21 12.22 12.10 12.13 -0.08 76169 13.85 7.41 - - - -

ICI Pakistan 1388 6.99 123.83 125.25 123.75 124.10 0.27 90209 131.40 109.50 80 - 55 -

Ittehad Chemical XD 360 10.26 27.48 28.85 27.49 27.50 0.02 1200 34.12 21.00 15 - 5 -

Lotte Pakistan 15142 3.61 10.28 10.42 10.08 10.12 -0.16 2511418 10.75 6.75 5 - - -

Mandviwala 74 - 1.32 1.89 1.36 1.68 0.36 78935 3.24 0.80 - - - -

Nimir Ind Chemical 1106 - 1.50 1.47 1.40 1.45 -0.05 159687 1.69 1.16 - - - -

Shaffi Chemical 120 - 2.58 2.55 2.31 2.46 -0.12 5110 3.49 1.80 - - - -

Sitara Peroxide 551 13.63 12.82 13.10 12.50 12.54 -0.28 170453 13.79 7.67 - - - -

Wah-Noble XD 90 6.53 34.21 34.50 33.50 33.98 -0.23 4101 46.25 33.50 50 - 50 -

Paid up Last 60 days 2009 2010

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

879.53 875.88 859.45 865.11 -14.42 -1.64

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

21,791 - - 3,904.20 mn 28,831.53 mn 879.53

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

6.50 1.45 22.31 44.54 6.85 865.11

Abbott (Lab) 979 8.48 100.00 98.75 96.50 96.70 -3.30 16631 104.00 77.00 120 - 20 -

GlaxoSmithKline 1707 12.74 71.50 71.00 70.10 70.81 -0.69 2246 81.35 65.00 50 - - -

Highnoon (Lab) 165 6.73 24.89 24.32 24.25 24.31 -0.58 839 25.79 22.10 25 - - -

Sanofi-Aventis 96 10.58 134.00 132.98 127.30 132.98 -1.02 432 139.50 115.90 70 - - -

Searle Pak XD 306 5.58 62.54 62.45 62.05 62.05 -0.49 1537 64.50 53.36 15 15B 30 -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

754.55 751.26 731.21 737.87 -16.68 -2.21

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

4,557 - - 3,242.17 mn 12,953.12 mn 762.16

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

2.97 0.76 25.53 11.08 3.73 734.66

Pak Int Cont.Terminal XD 1092 7.08 72.91 72.50 70.00 70.83 -2.08 4557 84.50 60.05 - 20B 40 -

Paid up Last 60 days 2009 2010

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

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

BOOK CLOSURES

Faysal Bank 02-Nov 10-Nov 25(R) - 10-Nov

Atlas Fund of Funds 03-Nov 10-Nov 2.20(F) 26-Oct 03-Nov

First Paramount Modaraba 03-Nov 10-Jan 18 - 28-Oct

Sapphir Fibres 04-Nov 11-Nov - - 11-Nov

Sapphir Textile Mills 04-Nov 11-Nov - - 11-Nov

Jahangir Siddiqui & Co 09-Nov 23-Nov - - 24-Nov

Punjab Oil Mills 09-Nov 15-Nov 28(R) 29-Oct 12-Oct

Biafo Industries 10-Nov 16-Nov 12.5(i) 01-Nov -

East West Life Assurance 15-Nov 23-Nov 10R 04-Nov -

KESC 15-Nov 28-Nov 7.80(R) 04-Nov -

Nestle Pakistan 16-Nov 22-Nov 250(ii) - -

Fuji Fertilizer 21-Nov 27-Nov - - -

Thal Limited 23-Nov 30-Nov - - 30-Nov

Fauji Fertilizer Bin Qasim 14-Dec 20-Dec 12.5(iii) - -

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

TRG Pakistan Ltd. 4.01 4.19 4.01 4.1 0.09 1407044

Murree BreweryXDXB 74.5 73.61 73.5 73.57 -0.93 314

Shezan Internat.XD 96 97 92 94.19 -1.81 109

Grays of Cambr XD 46.63 48.49 46.05 47.85 1.22 194

Pak Tobacco 113.21 112.5 112.5 112.5 -0.71 2078

Eye Television 20.9 21 20.01 20.23 -0.67 13089

PIAC(A) 2.32 2.5 2.25 2.28 -0.04 192630

AKD Capital 60 61.49 57 57 -3 2793

Pace (Pak) Ltd. 3.15 3.11 2.81 2.85 -0.3 1289026

Netsol Technol XD 18.63 19.01 18.51 18.6 -0.03 393440

Pak Telephone 1.75 2.35 1.71 2 0.25 519

Symbols Open High Low Close Change Vol

Tuesday, November 2, 20107

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -60.13 points at 10,538.27. Volume

was 29 per cent below average and Bollinger Bands were 5 per cent

wider than normal. As far as resistance level is concern, the market

will see major 1st resistance level at 10,627.30 and 2nd resistance

level at 10,716.30, while Index will continue to find its 1st support

level at 10,489.05 and 2nd support level at 10,439.85.

KSE 100 INDEX is currently 5.3 per cent above its 200-day moving

average and is displaying an upward trend. Volatility is extremely

high when compared to the average volatility over the last 10 trading

sessions. Volume indicators reflect moderate flows of volume into

INDEX (mildly bullish). Trend forecasting oscillators are currently

bullish on INDEX.

RSI (14-day) 61.37 Support 1 10,489.05

MA (5-day) 10,626.79 Support 2 10,439.85

MA (10-day) 10,599.98 Resistance 1 10,627.30

MA (100-day) 10,019.76 Resistance 2 10,716.30

MA (200-day) 10,008.42 Pivot 10,578.05

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -0.71 at 63.90. Volume was 18 per cent above average

and Bollinger Bands were 14 per cent narrower than normal.

NBP is currently 4.0 per cent below 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 volume flowing into and out of NBP at a relatively equal pace. Trend

forecasting oscillators are currently bullish on NBP.

*Arif Habib Ltd 78 Buy

AKD Securities Ltd 61.96 Neutral

TFD Research 92.3 Positive

RSI (14-day) 43.76 Free Float Shares (mn) 318.37

MA (10-day) 66.31 Free Float Rs (mn) 20,343.65

MA (100-day) 65.63 ** NOI Rs (mn) 90.15

MA (200-day) 71.50 Mean 64.32

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed up 1.38 at 107.90. Volume was 297 per cent above average

(trending) and Bollinger Bands were 38 per cent narrower than normal.

FFC is currently 0.0 per cent below 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 FFC (mildly bullish). Trend forecast-

ing oscillators are currently bullish on FFC.

*Arif Habib Ltd 127 Buy

AKD Securities Ltd 122.1 Accumulate

TFD Research 114.33 Neutral

RSI (14-day) 54.35 Free Float Shares (mn) 373.19

MA (10-day) 108.03 Free Float Rs (mn) 40,267.19

MA (100-day) 106.74 ** NOI Rs (mn) 1.25

MA (200-day) 107.89 Mean 107.45

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

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -0.27 at 30.89. Volume was 7 per cent below average

and Bollinger Bands were 17 per cent wider than normal.

FFBL is currently 6.0 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 FFBL (bullish). Trend forecasting

oscillators are currently bullish on FFBL.

*Arif Habib Ltd 33 Buy

AKD Securities Ltd 32.06 Accumulate

TFD Research 29.1 Neutral

RSI (14-day) 67.45 Free Float Shares (mn) 326.94

MA (10-day) 30.52 Free Float Rs (mn) 10,099.13

MA (100-day) 28.24 ** NOI Rs (mn) 14.21

MA (200-day) 29.53 Mean 31.07

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

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed down -0.45 at 26.88. Volume was 47 per cent below aver-

age and Bollinger Bands were 17 per cent wider than normal.

DGKC is currently 0.4 per cent below its 200-day moving average and is

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

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

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

oscillators are currently bullish on DGKC.

*Arif Habib Ltd 44 Buy

AKD Securities Ltd 43.29 Buy

TFD Research 36.85 Positive

RSI (14-day) 57.72 Free Float Shares (mn) 182.55

MA (10-day) 27.13 Free Float Rs (mn) 4,906.93

MA (100-day) 25.54 ** NOI Rs (mn) 34.68

MA (200-day) 26.98 Mean 27.16

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed up 0.01 at 18.26. Volume was 38 per cent below average and

Bollinger Bands were 27 per cent narrower than normal

PTC is currently 6.9 per cent below its 200-day moving average and is dis-

playing a downward trend. Volatility is extremely high when compared to

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

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

forecasting oscillators are currently bearish on PTC.

AKD Securities Ltd 24.04 Buy

TFD Research 30.5 Positive

RSI (14-day) 36.58 Free Float Shares (mn) 584.63

MA (10-day) 18.95 Free Float Rs (mn) 10,675.43

MA (100-day) 18.64 ** NOI Rs (mn) 12.16

MA (200-day) 19.61 Mean 18.31

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

Technical Analysis Leverage Position

Bank Alfalah Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

BAFL closed down -0.07 at 9.20. Volume was 55 per cent below average

(consolidating) and Bollinger Bands were 18 per cent wider than normal.

BAFL is currently 10.9 per cent below its 200-day moving average and is

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

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

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

oscillators are currently bullish on BAFL.

*Arif Habib Ltd 14 Buy

AKD Securities Ltd 10.25 Accumulate

TFD Research 14.01 Positive

RSI (14-day) 53.53 Free Float Shares (mn) 674.58

MA (10-day) 9.43 Free Float Rs (mn) 6,206.12

MA (100-day) 8.87 ** NOI Rs (mn) N/A

MA (200-day) 10.32 Mean 9.25

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed down -3.10 at 239.32. Volume was 25 per cent below average

and Bollinger Bands were 1 per cent narrower than normal.

POL is currently 3.4 per cent above its 200-day moving average and is dis-

playing a downward trend. Volatility is high as compared to the average

volatility over the last 10 trading sessions. Volume indicators reflect very

strong flows of volume into POL (bullish). Trend forecasting oscillators are

currently bearish on POL

*Arif Habib Ltd 261 Buy

AKD Securities Ltd 296.6 Buy

TFD Research 281.35 Positive

RSI (14-day) 49.91 Free Float Shares (mn) 107.94

MA (10-day) 240.35 Free Float Rs (mn) 25,831.41

MA (100-day) 228.35 ** NOI Rs (mn) 123.83

MA (200-day) 231.37 Mean 241.31

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,060.58 1,065.10 1,034.92 1,049.23 -11.35 -1.07

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

9,736,947 - - 29,771.58 mn 17,214.26 mn 1,060.58

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

19.73 0.44 2.21 104.74 8.25 1,049.23

AL-Meezan Mutual F XD 1375 5.13 6.17 6.20 6.06 6.16 -0.01 6950 7.25 5.85 - - 18.5 -

AL-Noor Modaraba XD 210 3.85 2.45 2.35 2.31 2.31 -0.14 2100 3.44 2.10 - - 5 -

Atlas Fund of F. SPOT 525 1.44 3.50 3.56 3.51 3.56 0.06 1905 4.50 2.53 - - 2.2 -

Crescent St Mod.XD 200 1.70 0.63 0.75 0.62 0.68 0.05 136217 1.10 0.16 - - 1.2 -

Elite Cap Mod. XD 113 3.09 2.47 2.47 2.47 2.47 0.00 262 3.00 1.65 4.5 - 5 -

Equity Modaraba 524 8.38 1.21 1.37 1.25 1.34 0.13 694 1.50 0.76 - - - -

First Capital Mutual F. 300 13.13 4.65 5.40 5.25 5.25 0.60 5001 5.50 0.99 - - - -

First Dawood Mutual F. 581 0.54 1.88 1.89 1.70 1.70 -0.18 8111 2.00 1.30 - - - -

Golden Arrow XD 760 1.93 2.69 2.77 2.65 2.70 0.01 88469 3.88 2.32 - - 17 -

H B L Modaraba XD 397 1.92 6.25 5.78 5.75 5.76 -0.49 14000 6.80 4.80 5 - 11 -

Habib Modaraba 1008 5.26 6.07 6.10 6.05 6.10 0.03 1525 7.44 5.56 20 - 21 -

JS Growth Fund 3180 34.25 2.91 2.87 2.70 2.74 -0.17 843708 3.70 2.65 - - 5 -

JS Value Fund 1186 9.68 2.85 2.93 2.70 2.71 -0.14 300064 3.98 2.31 10 - 10 -

Meezan Bal. Fund XD 1200 5.19 5.60 5.50 5.40 5.40 -0.20 329025 7.00 5.30 - - 15.5 -

Mod Al-Mali 184 10.00 1.14 1.18 1.00 1.00 -0.14 957 2.18 0.56 - - - -

Nat Bank Modaraba XD 250 6.52 6.95 7.05 7.00 7.04 0.09 1500 8.45 6.15 - - 10 -

Pak Prem Fund 1698 11.32 8.20 8.17 8.02 8.15 -0.05 5329 9.86 7.00 - - 18.6 -

Pak Strat FundSPOT 3000 7.23 7.33 7.59 7.30 7.52 0.19 7508705 7.99 6.01 - - 11.53 -

Paramount Mod. XD 59 6.45 8.01 8.50 8.05 8.25 0.24 19500 9.45 6.55 15 - 18 -

PICIC Energy Fund 1000 1.64 5.68 5.70 5.65 5.65 -0.03 22052 5.99 4.00 - - 10 -

PICIC Growth Fund 2835 5.13 8.02 8.34 8.00 8.00 -0.02 359961 10.05 7.60 - - 20 -

PICIC Inv Fund 2841 4.26 3.85 3.89 3.67 3.75 -0.10 57511 4.98 3.50 - - 10 -

Prud Modaraba 1st XD 872 2.24 0.90 0.90 0.85 0.85 -0.05 13094 1.20 0.70 - - 3 -

Stand Chart Modaraba 454 4.41 9.00 9.00 8.94 8.99 -0.01 9070 10.99 7.75 16.5 - 17 -

Tri-Star 1st Modaraba 212 - 1.70 1.90 1.59 1.90 0.20 1000 7.12 0.50 - - - -

Paid up Last 60 days 2009 2010

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

373.31 381.23 362.29 369.01 -4.30 -1.15

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

8,941,849 - - 30,336.44 mn 26,180.94 mn 375.37

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

42.51 0.39 0.91 99.56 2.34 369.01

AMZ Ventures 225 1.57 0.65 0.75 0.58 0.69 0.04 220118 1.10 0.42 - - - -

Arif Habib Investments 360 3.18 16.96 16.80 16.10 16.16 -0.80 31781 20.30 13.00 - - - 20B

Arif Habib Limited XB 450 12.77 25.27 25.49 24.91 25.03 -0.24 50847 43.51 24.62 15 25B - 20B

Arif Habib Securities 3750 4.20 23.23 23.43 22.80 22.83 -0.40 557843 32.90 20.90 - - 30 -

Dawood Cap Mngt XB 150 1.34 1.54 1.83 1.50 1.50 -0.04 1001 2.25 0.50 - - - -

Dawood Equities 250 - 1.91 2.00 1.85 1.97 0.06 17600 2.91 1.51 - - - -

Escorts Bank 441 - 2.50 2.50 2.49 2.49 -0.01 500 3.35 1.85 - - - -

IGI Investment Bank 2121 12.75 2.09 2.10 2.01 2.04 -0.05 31580 2.30 1.17 - - - -

Invest Bank 2849 - 0.66 0.78 0.53 0.65 -0.01 149720 1.00 0.44 - - - -

Ist Cap Securities XB 3166 - 3.86 3.99 3.61 3.79 -0.07 32900 5.29 2.54 - 10B - 10B

Ist Dawood Bank 626 0.70 1.83 1.98 1.78 1.97 0.14 43671 2.84 1.17 - - - -

Jah Siddiq Co 7633 - 9.88 9.99 9.54 9.62 -0.26 1800877 13.25 8.80 -243.778B 10 -

JOV and CO 508 - 4.07 5.04 4.20 4.80 0.73 3841565 5.62 1.96 - - - -

JS Global Cap XD 500 7.36 27.48 28.00 26.25 27.37 -0.11 2106 40.49 24.25 150 - - -

JS Investment 1000 24.58 5.91 6.14 5.80 5.90 -0.01 26934 7.55 5.10 - - - -

KASB Securities 1000 - 4.10 4.28 4.02 4.02 -0.08 36502 4.95 3.20 - - - -

Orix Leasing 821 4.07 5.51 5.61 5.25 5.53 0.02 31116 5.95 3.66 - - - -

Pervez Ahmed Sec 775 - 2.29 2.70 2.15 2.40 0.11 2060451 2.70 1.35 -231.08R - -

Saudi Pak Leasing 452 - 0.58 0.55 0.55 0.55 -0.03 4175 1.70 0.40 - - - -

Trust Inv Bank 586 3.66 1.50 2.34 2.34 2.34 0.84 500 3.25 1.24 - - - -

Paid up Last 60 days 2009 2010

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

827.36 843.36 813.91 835.90 8.54 1.03

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

17,248 - - 2,290.72 mn 9,251.23 mn 858.52

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

79.81 3.07 3.85 355.53 4.45 827.36

East West Life 455 - 2.60 2.90 2.89 2.90 0.30 1500 3.00 2.05 - 10R - 20R

EFU Life Assurance XB 850 36.53 67.68 65.99 64.30 64.30 -3.38 5735 82.99 51.25 5513.33B - -

New Jub Life Insurance 627 29.42 42.00 43.87 42.00 43.84 1.84 10013 45.20 34.50 10 - - -

Paid up Last 60 days 2009 2010

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,017.80 1,032.08 1,001.51 1,007.50 -10.30 -1.01

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

12,323,945 - - 257,548.02 mn 611,235.30 mn 1,037.29

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

7.30 1.02 13.94 40.49 5.54 1,007.50

Allied Bank Limited 7821 5.36 55.36 56.20 55.00 55.14 -0.22 53177 58.25 48.51 40 10B 20 -Askari Bank 6427 7.20 15.45 15.49 14.96 15.13 -0.32 386414 16.96 13.99 - 20B - -Atlas Bank 5001 - 1.71 1.85 1.70 1.70 -0.01 127146 2.84 1.52 - - - -Bank Alfalah 13492 11.79 9.27 9.43 9.11 9.20 -0.07 833128 10.19 7.32 8 - - -Bank AL-Habib 7322 6.88 32.00 32.32 31.65 31.90 -0.10 25142 33.75 29.10 20 20B - -Bank Of Khyber 5004 4.84 3.50 3.70 3.58 3.63 0.13 17105 4.49 2.50 - - - -Bank Of Punjab 5288 - 8.42 9.06 8.34 8.56 0.14 1598804 10.20 7.35 - - - -BankIslami Pak 5280 850.00 3.22 3.59 3.27 3.40 0.18 496063 3.69 2.31 - - - -Faysal Bank 6091 5.20 15.11 16.11 16.01 16.11 1.00 352774 16.11 12.75 - - - 20BHabib Bank Ltd 10019 6.29 101.55 102.25 100.50 100.78 -0.77 66016 108.50 92.00 60 10B - -Habib Metropolitan Bank 8732 6.12 20.13 20.50 20.00 20.02 -0.11 28386 23.30 18.02 10 16B - -JS Bank Ltd 6128 - 2.64 2.70 2.60 2.66 0.02 175957 2.90 2.00 - - - 66RKASB Bank Ltd 9509 - 2.48 2.50 2.45 2.45 -0.03 3000 3.70 2.03 - 26B - -MCB Bank Ltd 7602 8.86 202.55 204.45 199.00 199.86 -2.69 501526 208.65 180.40 110 10B 55 -Meezan Bank 6983 7.94 15.10 15.48 15.00 15.01 -0.09 8208 15.95 13.80 - 5B - -Mybank Ltd 5304 - 2.10 2.25 1.99 2.01 -0.09 269021 2.75 1.62 - - - -National Bank 13455 5.58 64.61 65.25 63.53 63.90 -0.71 2627696 71.99 60.51 75 25B - -NIB Bank 40437 - 2.71 2.83 2.59 2.61 -0.10 888496 3.25 2.42 - - - -Royal Bank Ltd 17180 - 7.25 7.70 6.95 6.99 -0.26 153957 11.99 5.20 - - - -Samba Bank 14335 - 1.99 2.00 1.80 1.89 -0.10 282759 2.65 1.55 - - -63.46RSilkbank Ltd 26716 - 2.64 2.77 2.57 2.58 -0.06 3006369 3.30 2.15 - - - -Soneri Bank 6023 - 7.75 7.79 7.21 7.42 -0.33 300932 7.90 5.01 - - - -Stand Chart Bank 38716 10.31 6.53 6.75 6.55 6.70 0.17 15511 8.00 6.00 - - - -Summit Bank Ltd 5000 - 2.81 3.04 2.75 2.75 -0.06 33566 3.70 2.30 - - - -United Bank Ltd 12242 6.51 56.23 56.80 55.25 55.36 -0.87 106355 59.24 49.90 25 10B 10 -

Paid up Last 60 days 2009 2010

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

670.23 675.87 657.77 662.62 -7.61 -1.14

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

503,319 - - 11,111.34 mn 42,505.51 mn 693.76

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

11.19 0.58 5.20 79.54 7.11 662.62

Adamjee Insurance 1237 19.92 69.53 69.97 68.11 68.73 -0.80 203898 87.89 63.05 30 10B 10 -

Paid up Last 60 days 2009 2010

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,759.26 1,802.91 1,718.34 1,726.32 -32.94 -1.87

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

134,155 - - 12,202.80 mn 37,039.57 mn 1,820.63

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

11.09 1.27 11.41 66.79 6.02 1,726.32

Sui North Gas 5491 9.32 31.81 32.25 31.25 31.32 -0.49 60514 33.40 25.00 - - 20 -Sui South GasXDXB 8390 3.56 24.16 24.95 23.50 23.65 -0.51 73641 30.70 16.00 - - 15 25B

Paid up Last 60 days 2009 2010

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,172.05 1,184.22 1,158.17 1,162.20 -9.85 -0.84

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

4,582,415 - - 95,369.29 mn 96,351.87 mn 1,188.38

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

12.50 1.17 9.35 104.13 8.33 1,162.20

Genertech 198 - 0.94 0.99 0.80 0.99 0.05 9002 1.45 0.51 - - - -Hub Power 11572 6.09 33.44 33.85 33.15 33.24 -0.20 559036 37.24 32.75 33.5 - 50 -Japan Power 1560 - 1.61 1.55 1.50 1.52 -0.09 83507 2.25 0.70 - - - -KESC 7932 - 2.09 2.34 2.16 2.19 0.10 2851396 2.50 1.92 - 31R - 7.8RKohinoor Energy XD 1695 12.16 21.90 21.98 21.50 21.89 -0.01 522 26.50 21.31 45 - 15 -Kot Addu Power XD 8803 4.80 39.53 39.90 39.35 39.47 -0.06 67539 42.95 38.35 64.5 - 50 -Nishat Chunian Power Ltd 3673 2.94 14.09 14.45 13.35 13.40 -0.69 1182813 14.85 9.50 - - - -Nishat Power Ltd 3541 22.87 15.14 15.10 14.14 14.18 -0.96 2314303 16.10 9.25 - - - -Sitara Energy Ltd XD 191 3.59 19.50 19.25 18.50 19.25 -0.25 37230 23.49 18.50 20 - 20 -Southern Electric 1367 - 2.32 2.41 2.12 2.16 -0.16 328361 2.95 2.05 - - - -Tri-star Power XD 150 - 0.90 0.92 0.80 0.80 -0.10 101 1.58 0.33 3 - - -

Paid up Last 60 days 2009 2010

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,079.19 1,103.08 1,075.98 1,080.18 0.99 0.09

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

4,150,826 - - 50,077.79 mn 74,509.48 mn 1,134.70

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

5.87 0.75 12.84 62.56 10.65 1,079.19

Pak Datacom XD 78 5.44 92.79 90.10 88.16 88.16 -4.63 1514 120.61 88.16 70 - 80 -

Pakistan Telecomm Co A 37740 12.17 18.25 18.51 18.22 18.26 0.01 966554 19.76 17.32 15 - 17.5 -

TelecardSPOT 3000 0.72 2.27 2.60 2.31 2.41 0.14 2138172 2.78 1.80 - - 1 -

WorldCall Tele 8606 - 2.45 2.64 2.41 2.42 -0.03 1044586 2.98 2.30 - - - -

Wateen Telecom Ltd 6175 - 3.45 3.65 3.38 3.40 -0.05 53891 5.68 3.38 - - - -

Paid up Last 60 days 2009 2010

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

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

Atlas Insurance 369 5.35 33.00 33.80 33.05 33.65 0.65 2975 35.00 27.10 40 10B - -

Central Insurance XB 279 6.13 52.00 54.00 53.00 53.95 1.95 913 64.90 47.37 20 25B 10 10B

Century Insurance 457 7.09 11.24 11.49 10.50 11.34 0.10 301 11.99 9.42 - - - -

EFU General Ins. XB 1250 - 41.55 41.00 39.48 39.81 -1.74 26117 52.61 34.76 40 8.7B - -

Habib Insurance 400 2.74 11.50 11.50 11.49 11.49 -0.01 500 13.89 10.04 35 - - -

IGI Insurance 718 15.33 83.00 84.44 82.00 82.62 -0.38 1201 86.69 66.02 35 - 10 20B

Pak Reinsurance 3000 36.03 14.24 14.50 14.00 14.05 -0.19 263565 17.90 12.50 30 - - -

Premier Insurance 303 4.97 9.22 9.45 9.20 9.20 -0.02 2756 10.25 8.00 20 15B - -

Reliance Insurance XB 252 4.29 6.51 7.00 6.98 6.99 0.48 1000 7.70 6.05 - - - -

UPTO 100 VOLUME

JKSM 6.25 7.25 7.00 7.00 0.75 100

FECS 47.00 44.65 44.65 44.65 -2.35 100

MZSM 5.45 5.20 5.20 5.20 -0.25 100

BIFO 39.75 41.70 41.70 41.70 1.95 100

WYETH 810.00 845.00 772.00 778.09 -31.91 95

SHJS 66.90 63.62 63.57 63.57 -3.33 85

NESTLE 1973.48 2001.00 1925.00 1972.85 -0.63 80

DLL 39.97 39.95 39.90 39.93 -0.04 79

AGSML 6.49 7.49 6.00 6.00 -0.49 79

FFLM 1.40 1.45 1.21 1.23 -0.17 66

FRCL 3.80 4.00 2.80 2.80 -1.00 61

HADC 0.63 0.84 0.79 0.79 0.16 55

FIBLM 1.06 1.90 1.15 1.90 0.84 54

FPJM 1.52 1.58 1.55 1.55 0.03 51

THCCL 19.50 20.30 20.20 20.20 0.70 51

AGIC 10.95 11.45 10.75 10.75 -0.20 49

LAKST 327.05 321.00 318.00 318.18 -8.87 49

MIRKS 57.12 59.49 58.25 58.42 1.30 40

FCONM 1.35 1.89 1.21 1.31 -0.04 35

GRYL 1.03 1.88 1.45 1.65 0.62 33

SHFA 27.10 27.10 26.00 27.07 -0.03 32

GVGL 30.00 31.50 31.49 31.50 1.50 31

PCAL 52.00 52.20 52.20 52.20 0.20 30

GATI 41.33 42.90 40.08 41.29 -0.04 26

PECO 291.48 300.00 299.00 299.00 7.52 26

AGL 21.62 22.30 22.25 22.25 0.63 25

FZTM 453.50 476.15 436.00 444.50 -9.00 22

COLG 852.33 885.00 825.02 845.01 -7.32 22

FUDLM 5.38 5.48 5.21 5.35 -0.03 18

ULEVER 4088.67 4050.02 4025.00 4037.50 -51.17 13

BCML 16.90 17.85 15.90 15.90 -1.00 12

AGIL 67.50 67.01 67.01 67.01 -0.49 12

BWHL 34.00 35.69 32.30 32.30 -1.70 12

CLOV 51.00 51.51 51.30 51.30 0.30 12

PIL 3.14 3.49 2.61 2.69 -0.45 11

PKGI 6.12 6.79 5.61 6.79 0.67 11

IDYM 251.62 260.92 239.11 258.94 7.32 11

NSRM 16.00 16.99 15.00 15.18 -0.82 11

NBF 2.94 3.00 3.00 3.00 0.06 10

FCIBL 3.05 3.05 3.05 3.05 0.00 10

FNEL 9.63 9.87 8.70 9.75 0.12 10

NJICL 54.84 55.99 55.99 55.99 1.15 10

UNIC 5.73 5.50 5.50 5.50 -0.23 10

CFL 10.30 11.30 11.30 11.30 1.00 10

SANSM 13.80 13.90 13.90 13.90 0.10 10

PIOC 7.99 8.14 7.61 8.04 0.05 10

HINO 140.80 133.95 133.95 133.95 -6.85 10

PGCL 19.24 20.08 20.05 20.05 0.81 10

IBLHL 8.50 8.98 7.75 8.14 -0.36 10

ARPAK 11.00 12.00 12.00 12.00 1.00 10

UDPL 10.58 10.37 10.37 10.37 -0.21 10

IFSL 7.11 7.23 6.65 7.20 0.09 9

GLPL 66.00 69.05 68.00 68.00 2.00 7

ALQT 5.61 4.61 4.61 4.61 -1.00 5

DATM 0.36 0.65 0.55 0.55 0.19 5

GUSM 5.53 6.30 5.25 6.00 0.47 5

LMSM 1.13 1.00 1.00 1.00 -0.13 5

RCML 30.00 31.49 31.48 31.49 1.49 5

SFL 119.99 120.50 120.48 120.49 0.50 5

DIIL 12.28 12.98 12.98 12.98 0.70 5

CHAS 9.45 9.90 9.45 9.45 0.00 4

CSUML 3.87 4.00 3.50 3.93 0.06 4

SIEM 1249.46 1245.00 1238.99 1238.99 -10.47 4

DYNO 11.84 12.50 10.84 11.51 -0.33 4

NMBL 1.02 1.01 1.00 1.01 -0.01 3

BTL 46.50 47.90 47.84 47.84 1.34 3

FASM 30.98 32.40 31.89 31.89 0.91 3

MRNS 58.75 58.89 58.89 58.89 0.14 3

MQTM 8.10 8.80 7.26 7.26 -0.84 2

HUSI 9.90 10.90 9.84 9.84 -0.06 2

MUBT 1.20 0.60 0.60 0.60 -0.60 2

AASM 27.72 26.34 26.34 26.34 -1.38 2

DNCC 2.52 2.85 2.85 2.85 0.33 2

KSBP 70.61 73.80 72.00 73.80 3.19 2

PICTPS 10.55 9.55 9.55 9.55 -1.00 2

SCL 47.46 45.30 45.30 45.30 -2.16 2

PHDL 37.37 36.00 36.00 36.00 -1.37 2

TSMF 1.60 1.66 1.66 1.66 0.06 1

BRR 1.19 1.24 1.24 1.24 0.05 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

NBP-NOV 65.09 65.50 64.20 64.40 -0.69 441000

DGKC-NOV 27.50 27.70 27.00 27.08 -0.42 407500

NML-NOV 52.01 52.22 51.40 51.51 -0.50 215000

POL-NOV 243.73 245.00 240.06 240.55 -3.18 180000

ANL-NOV 11.06 11.09 10.15 10.31 -0.75 161000

LUCK-NOV 73.22 73.75 71.80 71.81 -1.41 132000

MCB-NOV 203.22 204.00 200.00 200.18 -3.04 115000

PSO-NOV 266.74 268.90 263.50 264.22 -2.52 80500

PPL-NOV 187.90 188.50 185.20 185.59 -2.31 55000

FFBL-NOV 31.44 31.10 31.00 31.00 -0.44 53500

OGDC-NOV 152.79 154.44 152.60 153.05 0.26 48000

AICL-NOV 69.99 69.99 68.74 68.84 -1.15 46500

ENGRO-NOV 175.75 175.70 175.02 175.35 -0.40 43500

PTC-NOV 18.43 18.50 18.40 18.43 0.00 39000

NCL-NOV 21.20 20.40 20.40 20.40 -0.80 14000

UBL-NOV 56.29 56.10 55.75 55.75 -0.54 10000

FFC-NOV 107.90 108.25 108.00 108.07 0.17 7000

NETSOL-NOV 19.00 19.00 19.00 19.00 0.00 3500

Symbols Open High Low Close Change Vol

ZERO VOLUME

ASFL 3.13 3.00 3.00 3.00 -0.13 0.00

BWCL 23.25 23.20 23.20 23.20 -0.05 0.00

CRTM 23.75 22.57 22.57 22.57 -1.18 0.00

EXIDE 152.00 150.89 150.89 150.89 -1.11 0.00

GFIL 3.00 3.01 3.01 3.01 0.01 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 40.09 2.85 2.70 3.10 3.25 2.95

Allied Bank Limited 59.30 54.70 54.25 55.90 56.65 55.45

Attock Cement 26.90 57.50 56.95 58.65 59.25 58.10

Arif Habib Limited 36.09 24.80 24.55 25.35 25.70 25.15

Arif Habib Securities 44.37 22.60 22.40 23.25 23.65 23.00

Adamjee Insurance 46.11 67.90 67.10 69.75 70.80 68.95

Askari Bank 48.69 14.90 14.65 15.40 15.70 15.20

Azgard Nine 45.43 10.00 9.70 10.85 11.40 10.55

Attock Petroleum 32.51 290.25 287.20 298.15 302.95 295.05

Attock Refinery 70.67 100.05 99.35 101.80 102.85 101.10

Bank Alfalah 53.53 9.05 8.95 9.40 9.55 9.25

Bank Islami Pak 56.68 3.25 3.10 3.55 3.75 3.40

Bank Of Punjab 53.16 8.25 7.95 8.95 9.35 8.65

Dewan Cement 48.33 1.45 1.40 1.60 1.70 1.55

DGK Cement 57.72 26.55 26.25 27.40 27.95 27.10

Dewan Salman 56.35 1.55 1.50 1.70 1.80 1.65

Dost Steels Ltd 56.01 2.60 2.55 2.75 2.85 2.70

EFU General Insurance 44.16 39.20 38.60 40.70 41.60 40.10

EFU Life Assurance 42.41 63.75 63.15 65.40 66.55 64.85

Engro Chemical 46.32 174.40 173.85 175.80 176.65 175.25

Faysal Bank 78.06 16.05 16.00 16.15 16.20 16.10

Fauji Cement 41.98 4.75 4.70 4.90 4.95 4.85

Fauji Fert Bin 67.45 30.65 30.40 31.30 31.70 31.05

Fauji Fertilizer 54.35 106.85 105.80 108.80 109.70 107.75

Habib Bank Ltd 52.16 100.10 99.45 101.85 102.95 101.20

Hub Power 40.71 32.95 32.70 33.65 34.10 33.40

ICI Pakistan 51.88 123.50 122.85 125.00 125.85 124.35

Indus Motors 54.15 230.10 229.05 232.10 233.05 231.05

JOV and CO 81.18 4.30 3.85 5.15 5.50 4.70

Japan Power 47.46 1.45 1.40 1.55 1.60 1.50

JS Bank Ltd 61.30 2.60 2.55 2.70 2.75 2.65

Jah Siddiq Co 44.21 9.45 9.25 9.90 10.15 9.70

Kot Addu Power 39.07 39.25 39.00 39.80 40.10 39.55

KESC 55.03 2.10 2.05 2.30 2.40 2.25

Lucky Cement 51.02 71.20 70.60 72.95 74.10 72.35

MCB Bank Ltd 54.48 197.75 195.65 203.20 206.55 201.10

Maple Leaf Cement 41.46 2.65 2.50 2.95 3.15 2.80

National Bank 43.76 63.20 62.50 64.95 65.95 64.25

Nishat (Chunian) 56.35 19.95 19.55 20.95 21.65 20.60

Netsol Technologies 50.05 18.40 18.20 18.90 19.20 18.70

NIB Bank 37.25 2.55 2.45 2.75 2.90 2.70

Nimir Ind.Chemical 49.90 1.40 1.35 1.50 1.55 1.45

Nishat Mills 55.79 50.70 50.35 51.70 52.35 51.35

Oil & Gas Dev. XD 68.03 152.85 151.80 155.30 156.70 154.25

PACE (Pakistan) Ltd. 45.96 2.75 2.60 3.05 3.20 2.90

Pervez Ahmed Sec 73.62 2.15 1.85 2.70 2.95 2.40

PIAC(A) 53.52 2.20 2.10 2.45 2.60 2.35

Pioneer Cement 51.11 7.70 7.40 8.25 8.45 7.95

Pak Oilfields 49.91 237.40 235.45 242.90 246.45 240.95

Pak Petroleum 46.31 182.85 181.10 187.50 190.40 185.75

Pak Suzuki 47.00 72.65 71.40 75.50 77.15 74.25

PSO XD 43.81 260.95 258.75 267.15 271.15 264.95

PTCLA 36.58 18.15 18.05 18.45 18.60 18.35

Shell Pakistan 22.75 181.15 180.00 184.50 186.70 183.35

Sui North Gas 51.06 30.95 30.60 31.95 32.60 31.60

Sitara Peroxide 72.12 12.30 12.10 12.90 13.30 12.70

Sui South Gas 38.07 23.10 22.60 24.55 25.50 24.05

Telecard 53.82 2.30 2.15 2.55 2.75 2.45

TRG Pakistan 51.98 4.00 3.90 4.20 4.30 4.10

United Bank Ltd 58.47 54.80 54.25 56.35 57.35 55.80

WorldCall Tele 37.52 2.35 2.25 2.55 2.70 2.50

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

TRG Pakistan Limited 02-Nov 6:00

Hinopak Motors Ltd. 04-Nov 12:00

Dewan Salman Fibre Limited 06-Nov 11:00

BOARD MEETINGS

Company Date Time

Tuesday, November 2, 2010 8

KARACHI: A group photograph of Imran Khalid Mahmood, Country General Manager Nokia Pakistan & Afghanistan and Henri

Mattila Head of Category Marketing, Mobile Computers Middle East and Africa along with models display a new

Nokia N8 mobile phone during its launching ceremony at local hotel.-Staff Photo

KARACHI: PakistanTelecommunication Authority(PTA) has been declared the`Most Progressive TelecomRegulator in South Asia forthe year.

This was announced bythe spokesman of the PTAin a statement issued here.

He said that the ChairmanPTA, Dr MohammedYaseen, has been recognisedas Best Telecom Regulatory

Leader of the Year.The South Asian, Middle

Eastern and North African( S A M E N A )Telecommunication Councilconferred these awards at aceremony held inCasablanca on October 28.

It announced awards indifferent categories for topperformers amongst itsmember countries.

Pakistan has received

these awards in recognitionof its competitive regulato-ry environments across theRegion and unprecedentedgrowth shown by the tele-com sector in the country.

The statement furtherpointed out that theChairman PTA won awardin individual category whilePTA won Best Performanceaward in Regulators catego-ry.-APP

PTA, SAsia’s mostprogressive regulator

SAMENA Telecom Council confers awards

ISLAMABAD: With Hajjand Eid around the cornerPTCL has launched specialHajj and Eid call rates forits valued customers. The package has beenlaunched to further facili-tate the Hajis to meet theircommunication needs whileon this spiritual journey.

PTCL has given this offerkeeping in mind the needsof the customers to remainin contact with their lovedones in Saudi Arabia withthe best possible voice qual-ity. PTCL as a company isdriven more by a consider-ate approach towards its fel-low Pakistanis especiallywhen they are away fromtheir homes, than maximis-

ing profits.PTCL Hajj and Eid pack-

age offers lowest call ratesat only Rs2.99 per 20 sec-onds on fixed line and onmobile Rs4.25 per 20 sec-ond. This special promo-tional tariff is given in orderto facilitate valued cus-tomers so that they can callon Saudi Arabia Fixed aswell as Mobile numbers fora period of 1 month startingfrom 1st Nov 2010.

SEVP CommercialNaveed Saeed said thatPTCL has always providedits customers with best andaffordable facilities in alltimes and at all occasionsand the main focus of PTCLis to facilitate and satisfy its

customers. He further, saidthat in future PTCL aims tocome up with more suchoffers for its customer'sconvenience keeping inmind all their needs anddemands.

EVP Consumer servicesAasif Inam said that PTCLis announcing with pleasurethat it is giving the best tar-iff to call Saudi Arabia andit has lowered the rateskeeping in mind the connec-tivity needs of its cus-tomers, he further said thatPTCL in future will contin-ue offering customer friend-ly initiatives which wouldfurther enhance PTCL'simage as a customer centricservice provider.-Online

PTCL rings low ratecall plan for Hajj, Eid

TOKYO: Asian and Pacific

countries have agreed to help

establish next-generation

high-speed broadband net-

works in their region by 2020,

overcoming the "digital

divide" between rich and poor

nations.

The accord was mentioned

in a declaration adopted by

telecommunications and infor-

mation ministers from the 21-

member Asia-Pacific

Economic Cooperation

(APEC) forum at the end of a

two-day meeting in Okinawa,

Japan.

The declaration, which will

be submitted to the APEC sum-

mit scheduled for mid-

November in Yokohama,

Japan, was posted on the web-

site of the Japanese internal

affairs and communications

ministry.It said: "We recommend that

the TEL (APEC

Telecommunications and

Information Working Group)

works toward achieving the

ambitious goal of access to

next generation high speed

broadband by 2020 to expand

and improve ICT (information

and communications tech-

nologies) infrastructure for

knowledge-based economies

in the APEC region."

"We acknowledge that the

digital divide in the APEC

region remains an obstacle to

accessing the full benefits

offered by ICT," the document

said.

"We recognise that enhanc-

ing opportunities to access

information through initiatives

such as infrastructure develop-

ment need to be a priority."

The ministers welcomed

that APEC economies have"largely" achieved their goal

of "universal Internet access

by 2010" in terms of infra-

structure, the document said.

The goal was set in 2000.

"We reaffirm our commit-ment toward achieving the

goal of universal access to

(current-generation) broad-

band in the APEC region by

2015," it added.Internet broadband subscrip-

tions have increased from 0.2

per 100 inhabitants in the

region in 1999 to 10.8 in 2009,

an APEC document said.But access to the Internet

varies between APEC member

economies, Kyodo news

agency said.

It said the broadband pene-tration rate stands at 0.7 per

cent in Indonesia and 2.8 per

cent in Peru, while it reaches

27.1 per cent in the United

States and 24.9 per cent inJapan.-APP

Apec eyes next-genbroadbands by 2020

M Imran Sharif

KARACHI: Nokia's latestentertainment smartphone, thehighly anticipated Nokia N8with Ovi services and unlimit-ed playing capabilities, hasfinally arrived in Pakistan.

Customers who had pre-ordered the Nokia N8 withUfone service centres havestarted receiving their phoneswhereas the device is nowavailable at retail as well.

"With the N8 and the newSymbian software, we arebringing a familiar, faster andmore intuitive user experienceto the world's most popularsmartphone platform. TheNokia N8 has so far receivedthe highest amount of con-sumer pre-orders in Nokia his-tory and we are thrilled to startshipments of the N8, the firstof Nokia's new Symbian smart-phone range. The Nokia N8 isthe first in a new generation ofNokia devices. The device setsa new milestone in Nokia'sgrowth and innovation. Withthe Nokia N8, we continue tooffer an entirely new userexperience - allowing people tobe entertained, create and con-nect like never before. " says

Imran Mahmood, GM NokiaPakistan.

"To appeal to today's high-end buyers, smartphones haveto be enjoyable, useful andbeautiful. Ease of use, excel-lent multimedia performanceand elegant design are allessential elements of the pack-age. The Nokia N8 is a full-blown entertainment center.Whether you want to kill sometime while waiting, show yourvideos in HD-quality to familyand friends, or catch up on thelatest TV programmes via webTV, the Nokia N8 is your per-fect companion. You can takeamazing photos with the 12MPcamera with Carl Zeiss optics,Xenon flash and a large sensorthat actually rivals those foundin compact digital cameras. Itkeeps you entertained while onthe go, and also at home." saysHenri Mattila, Head ofCategory Marketing MEA,Mobile Computers.

It is mention-worthy thatUfone has offered free GPRSusage for 3 months for all N8customers for a limited timeperiod. This offer will helpconsumers enjoy the internetexperience on the device at amore economical proposition.

Nokia N8lands inhands

ISLAMABAD: PakistanTelecommunication Authority(PTA) has carried out billingverification of all cellularmobile operators (CMOs) byusing computer software basedsolution meant for such checksthrough NEMO tool.

Currently, mobile operatorsare offering per second, 20 sec-ond, 30 second and per minutepackages. For this purpose, 30second billing package wasselected as majority of thecards were loaded in the SIMsof all CMOs.

In order to verify billingsystem of CMOs, on-net andoff-net calls of different

durations were made rangingfrom 28 seconds to 175 sec-onds.

During billing verificationexercise, it was observed thatbilling systems of majority ofCMOs were accurate andamounts were being deductedcorrectly in accordance withtheir advertised tariffs.

Two of the mobile companieswere found overcharging insome instances. It wasobserved that in most of thecases operators were givingbenefit to their subscribers bycharging lesser tariffs in com-parison to their advertised tar-iffs.-Agencies

PTA tests cell cosbilling quality

MULTAN: PakistanTelecommunication CompanyLimited (PTCL) (Multan),under its Universal ServiceFund Policy, will offer 64,000DSL connections againstRs300 a month in the ruralareas of South Punjab,Regional General Manager(GM) Rao Aftab Ahmed said.

Holding a meeting with thestaff of broadband division,Aftab said the department hasinstalled DSLAM at 90 differ-ent places in the region to offerthe facility, which would pro-

vide easy Internet access toconsumers.

Regional GM pointed outthat PTCL is the only telecom-munication company that isproviding every latest facilityto its consumers. He directedthe staff to provide DSL con-nections to consumers on pri-ority basis. ManagerBroadband Tariq Pervez, PROImran Gerdezi, In-chargeService Support CentreManzoor Hussain and otherswere also present on the occa-sion.-APP

Multan villagesto get 64k DSLs

ChinaTelecom Q3net up 47pc

SHANGHAI: China Telecomsaid its third-quarter net profitrose 47 per cent, matching esti-mates, as a surge in revenuefrom mobile and broadbandservices offset declining fixedline phone users.

China Telecom, the smallestof China's three wireless carri-ers, has been aggressively mar-keting its 3G network andadding smartphones to its port-folio to gain market share overits two larger rivals, ChinaMobile and China Unicom.

A Deutsche Bank analystnote said earlier this monthChina Telecom may becomethe second Chinese operator tooffer Apple's popular iPhoneafter an exclusive agreementwith Unicom expires next year.

In September, the firm alsoordered 300,000 Androidsmartphones, the bulk of thosefrom China's ZTE Corp, as itbanks on cheap smartphones toramp up its 3G service.

China Telecom's earningsbefore interest, taxes, depreci-ation and amortisation (EBIT-DA) margin, a key indicatorfor profitability in the tele-coms sector, rose 0.7 per cent-age points to 41.8 per cent inthe first nine months of theyear.

China Telecom shares are upabout 27 per cent this year, out-performing a 6 per cent rise onthe benchmark Hang SengIndex. -Reuters

Egypt telcodenies

regionalexpansion

CAIRO: Telecom Egypt hasno plans to expand elsewhere inthe region for now, its chiefexecutive said after a report itwould be interested if mobileoperator Zain Saudi was forsale.

The Egyptian landlinemonopoly, which is mostlyowned by the Egyptian govern-ment, is eager to increasebroadband penetration in itsdomestic market, CEO TarekTantawy told Reuters in aphone call.

"All of our focus in the com-ing period is for our home mar-ket, to become a total commu-nications provider and increasebroadband penetration," hesaid. "We see a future in broad-band in our home market."

A Dow Jones Newswiresreport quoted Telecom Egypt'sChairman, Akil Beshir, as say-ing the company would "defi-nitely look into it" if Zain'sSaudi unit was for sale.

Tantawy said Telecom Egypthad "no regional plans, be it inSaudi or elsewhere, for the timebeing".

A bid for a Zain Saudi stakewould be "highly unlikely", headded.-Reuters

Intel Pakgets newcountrymanager

KARACHI: Intel Pakistanhas announced the appoint-ment of Naveed Siraj as itsnew Country Manager. Sirajjoins Intel from Hewlett-Packard and will be based inKarachi.

Siraj began his career in1993 and has in total morethan seventeen years' IT indus-try experience in roles includ-ing Account Sales Manager,National Sales Manager andCountry Lead. He holds aBachelor's in ComputerScience & Engineering, fromUniversity of Nebraska atLincoln and a Master's inIndustrial Engineering fromthe State University of NewYork.-PR

Brazil OKsPortugal

Telecom’s$5bn Oi stakeSAO PAULO: PortugalTelecom has won preliminaryapproval to buy a stake inBrazilian phone carrier Oi,opening the way for itsplanned purchase of $5 billionworth of shares in the compa-ny.

Anatel, Brazil's telecommu-nications industry regulator,said the purchase can go for-ward after 74 million reais arepaid in overdue debt owed tothe Fistel fund that helps payfor the oversight of the indus-try.

"The deal creates no crossshareholdings. There are noconflicting (phone) licenses.We don't think there are anyimpediments from the opera-tional point of view," saidJoao Rezende, an Anatelcounselor, at a press confer-ence.

Portugal Telecom agreed inJuly to pay 8.44 billion reais($4.97 billion) for undisclosedstakes in Oi, Brazil's largestphone company, owned byAndrade Gutierrez and LaFonte.

The transaction, which Oidubbed "a partnership," willallow both companies to gainpresence in Brazil, the largestphone market in the Americasafter the United States, and toexpand overseas.

Portugal Telecom ChiefExecutive Officer Zeinal Bavahas repeatedly said that Brazilis the lifeblood of the companyand offers the best platform forgrowth.-Reuters

Apple smartcells outrunBlackberrysin QoQ salesSINGAPORE: Apple has forthe first time outpacedBlackberry-maker Researchin Motion in global smart-phone sales thanks to the suc-cess of its iPhone 4, a reportsaid.

Industry tracker IDC saidApple sold 14.1 millioniPhone units in the third quar-ter while Canada's Researchin Motion shipped 12.4 mil-lion Blackberry devices.

"The company's recordshipment performance can beattributed to the introductionof the iPhone 4 in 17 newcountries last quarter," saidthe International DataCorporation (IDC).

"The record performancecame despite 'Antennagate,'the name used to describe thecontroversy around allegediPhone reception problems, inJuly."

Global mobile phone salessurged 14.6 per cent to 340.5million units in the third quar-ter from a year earlier, drivenmainly by the strong appetitefor smartphones, IDC said.-Agencies

BANGKOK: A pedestrian walks past a giant advertisement for

an I-Phone 4 displayed at shopping mall in Bangkok.- Reuters

KUALA LUMPUR: Malaysianpalm oil futures hit a new 27-month high on Monday on con-cern heavy rains may affect palmoil yields and a weak dollar trendlent support.

Benchmark Malaysian crudepalm oil futures rose as muchas 1.2 per cent to 3,098Malaysian ringgit ($1,002) pertonne -- a level unseen sinceJuly 28. 2008 and a touchbelow a key resistance level.

The contract ended at 3,092ringgit. Overall traded volumestood at 14,307 lots of 25tonnes each, down from theusual 10,000 lots.

"Exposure to heavy rainscould bring down yield qualityin palm fresh fruits and thatcould support the market," said a

trader with a foreign commodi-ties broker. "Also, the replantingscheme may help. We could seeprices go above 3,100 ringgit." Atop Malaysian industry officialsaid the government will carryout new scheme to replant365,000 hectares of oil palmsolder than 25 years to lift flag-ging output.

But exports appear to be lag-ging. Shipments of Malaysianpalm oil products for Octoberfell 8.5 per cent to 1,354,128tonnes from 1,479,602 tonnes

shipped in September, cargosurveyor Intertek TestingServices said on Monday.

Another cargo surveyorSociete Generale de Surveillancesaid October exports fell 12 percent. In Asian trade hours, USsoyoil for December deliveryrose 1.1 per cent ahead of a USFederal Reserve policy meetingthis week. The most activeSeptember 2011 soyoil onChina's Dalian CommodityExchange gained 1.2 per cent. -Reuters

Palm oil at 27-monthhigh on weather outlook

9Tuesday, November 2, 2010

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1245 1185

October (3rd Wednesday) 1160 1125

November (3rd Wednesday) 1170 1125

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for October 29 2010

LME Official Prices, US$ per tonne for October 29 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2186 2300 8224 2436 22675 25455 2392 2200

Cash seller 2186.5 2302 8225 2437 22700 25460 2392.5 2205

3-months buyer 2185 2329 8219 2435 22890 25500 2418 2220

3-months seller 2200 2330 8220 2436 22895 25550 2420 2230

15-months buyer 2125 2373 8045 2398 22475 25050 2442 2225

15-months seller 2135 2378 8055 2403 22575 25100 2447 2235

27-months buyer 2125 2422 7640 2367 21550 2402 2275

27-months seller 2135 2427 7650 2372 21650 2407 2285

LONDON METAL EXCHANGE (METALS)

LONDON: Oil jumpedalmost 3 per cent towards $84a barrel on Monday afterSaudi Arabia's oil ministersaid consumers were lookingfor prices between $70 and$90, a higher range than pre-viously targeted.

Ali al-Naimi said onMonday the oil price was"very decent" for producernations and consumers andthat consumers were lookingfor a market between $70 and$90.

"Consumers are looking foroil prices around $70, buthopefully less than $90,"Naimi said in comments fol-lowing a speech in Singapore.

US crude for Decemberrose $2.12 to $83.55 a barrelby 1418 GMT. ICE Brent wasup $1.95 at $85.10.

"Prices have jumpedsharply in the last 30 minutes.Naimi's comment is probablythe most convincing reason,"said Carsten Fritsch, analystat Commerzbank inFrankfurt.

"It gives assurance that theSaudis won't do anything toprevent a further rise above$80," he added. "At least untilprices exceed $90."

Naimi said last month thatoil prices between $70 and$80 were ideal. Saudi Arabia,OPEC's largest producer andits most influential member,has been praising that pricerange for more than a year.

When oil prices were racingtowards their all-time high ofnearly $150 a barrel in July2008, Saudi Arabia assuredthe market it would producemore oil if demand justifiedit.

This rally is more modestand Naimi said there was nocause for alarm.

"We're in a very comfort-able zone. I believe this zoneshould continue for sometime. I would not predict forhow long," Naimi said.

"We are in a very decentenvironment right now forprice. If I can be audacious, Iwould say producers, con-

sumers and companies are allhappy with this price."

Oil has traded mostlybetween $70 and $80 in thepast year.

Crude oil had earlier gaineda lift from expectations theUS Federal Reserve wouldcommit to a new round ofmonetary stimulus this week,which weighed on the dollar,and from strong Chinesemanufacturing data.

Traders said prices alsodrew support after a parcelexploded at a courier compa-ny in Athens.

Oil also rose followingunexpectedly strong manu-facturing data from China, theworld's second-largest oilconsumer, which also gave alift to shares in Europe andAsia.

Two surveys of the manu-facturing sector, which aredesigned to provide an earlyindication of conditions in abroad range of industries,both jumped to six-monthhighs in October. -Reuters

Oil jumps almost 3pc asSaudi talks of $70-$90

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Monday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmillNov10/Jan11 868.00,Feb11/Apr11 873.00,May11/Jul11 876.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Feb11/Apr11870.00+10.00, May11/Jul11875.00+10.00, Aug11/Oct11860.00+5.00.

SUNOIL: EU dlrs tonneextank six ports optionFeb11/Mar11 1380.00,Apr11/Jun11 1360.00+10.00,Jul11/Sep11 1380.00+10.00.

LINOIL: Any origin dlrstonne extank RotterdamNov11/Dec11 1305.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Nov101060.00+10.00, Dec101050.00+5.00, Jan11/Mar111047.50+15.00, Apr11/Jun111047.50+17.50.

PALMOIL: RBD dlrs tonnecif Rotterdam Dec10 1077.50,Jan11/Mar11 1072.50.

PALMOIL: RBD dlrs tonnefob Malaysia Dec101032.50+17.50, Jan11/Mar111027.50+15.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Dec101040.00+15.00, Jan11/Mar111035.00+12.50, Apr11/Jun111040.00+12.50, Jul11/Sep111042.50.

PALM STEARIN: Dlrs tonnefob Malaysia Nov101015.00+15.00, Dec101015.00+15.00.

PALM FATTY ACID DIS-TILLATE: Dlrs tonne fobMalaysia Dec10 910.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1445.00+5.00,Nov10/Dec10 1445.00+5.00,Dec10/Jan11 1445.00+5.00.

CASTOROIL: Any origindlrs tonne extank RotterdamNov10/Dec10 1925.00. -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

01-Nov-2010 CRUDE100 DE10 US$ Per Barrel 82.08 82.37 80.60 82.37 212 81.83 82.37 43

01-Nov-2010 CRUDE100 JA11 US$ Per Barrel 82.68 83.06 81.41 83.06 41 82.52 83.06 12

01-Nov-2010 CRUDE100 FE11 US$ Per Barrel 85.60 85.60 82.20 83.62 4 83.07 83.62 1

01-Nov-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 24.12 25.05 24.01 24.87 242 24.88 24.87 106

01-Nov-2010 SILVER - SL500 JA11 US$ Per Troy Ounce 24.18 24.89 24.18 24.89 - 24.90 24.89 -

01-Nov-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1349.10 1365.50 1342.50 1360.10 1,680 1359.30 1360.10 571

01-Nov-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1350.50 1366.00 1343.30 1360.60 1,087 1360.20 1360.60 1,135

01-Nov-2010 GOLD 01oz FE11 US$ Per Troy Ounce 1349.10 1367.00 1344.10 1361.20 400 1361.10 1361.20 246

01-Nov-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1346.90 1364.10 1345.20 1360.10 31 1359.30 1360.10 5

01-Nov-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1350.40 1360.60 1350.40 1360.60 - 1360.20 1360.60 -

01-Nov-2010 GOLD 100oz FE11 US$ Per Troy Ounce 1351.40 1360.60 1351.40 1360.60 - 1361.10 1361.20 -

01-Nov-2010 GOLD NO10 Per 10 grms 37128.00 37624.00 37128.00 37573.00 9 37578.00 37573.00 43

01-Nov-2010 GOLD DE10 Per 10 grms 37275.00 37582.00 37275.00 37582.00 3 37587.00 37582.00 7

01-Nov-2010 GOLD JA11 Per 10 grms 37329.00 37599.00 37329.00 37599.00 - 37604.00 37599.00 -

01-Nov-2010 Kilo GOLD NO10 Per 10 grms 37460.00 37545.00 37275.00 37545.00 1 37550.00 37545.00 1

01-Nov-2010 Kilo GOLD DE10 Per 10 grms 37284.00 37554.00 37284.00 37554.00 - 37559.00 37554.00 -

01-Nov-2010 Tola Gold50 NO10 Per Tola 43487.00 43792.00 43487.00 43792.00 - 43798.00 43792.00 -

01-Nov-2010 Tola Gold100 NO10 Per Tola 43477.00 43792.00 43477.00 43792.00 - 43798.00 43792.00 -

01-Nov-2010 Mini Gold 1-Aug Per 10 grms 38327.00 38652.00 38327.00 38652.00 - 38660.00 38652.00 -

01-Nov-2010 Mini Gold 2-Aug Per 10 grms 38367.00 38601.00 38367.00 38601.00 - 38606.00 38601.00 -

01-Nov-2010 Mini Gold 3-Aug Per 10 grms 38380.00 38613.00 38380.00 38613.00 - 38620.00 38613.00 -

01-Nov-2010 Mini Gold 4-Aug Per 10 grms 38393.00 38626.00 38393.00 38626.00 - 38633.00 38626.00 -

01-Nov-2010 Mini Gold 5-Aug Per 10 grms 39407.00 39407.00 38639.00 38639.00 - 38646.00 38639.00 -

01-Nov-2010 TT Gold 1-Sep Per Tola 44037.00 44416.00 44037.00 44416.00 - 44425.00 44416.00 -

01-Nov-2010 TT Gold 2-Sep Per Tola 44350.00 44357.00 44083.00 44357.00 1 44363.00 44357.00 -

01-Nov-2010 TT Gold 3-Sep Per Tola 44300.00 44372.00 44099.00 44372.00 1 44379.00 44372.00 1

01-Nov-2010 IRRI6W 04NO10 Per 100 kg 2402.00 2402.00 3332.00 3378.00 - 3332.00 3378.00 -

01-Nov-2010 Rice IRRI - NO10 Per 100 kg 3345.00 3391.00 3345.00 3391.00 - 3345.00 3391.00 -

01-Nov-2010 RBD Palm Olein NO10 Per Maund 4497.00 4521.00 4497.00 4521.00 - 4497.00 4521.00 -

01-Nov-2010 KIBOR3M 10-Dec Per Rs. 100 86.74 86.74 86.72 86.72 - 86.74 86.72 -

01-Nov-2010 KIBOR3M 11-Mar Per Rs. 100 86.15 86.15 85.85 85.85 - 85.83 85.85 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Indian spotsugar gainsfor 4th day

MUMBAI: India's spot sugarrose for a fourth straight day onMonday as the upcomingDiwali festival lifted retaildemand, dealers said.

"Diwali demand has support-ed prices....there is good off-take in the physical market,"said a trader at Vashi, a majortrading centre.

Demand for sugar usuallygoes up ahead of Diwali, theHindu festival of lights, whichfalls in the first week ofNovember.

In Kolhapur, a key market intop-producing Maharashtrastate, the most traded S-varietyrose 1.92 per cent to 2,650rupees ($59.6) per 100 kg.

India is likely to take a deci-sion on sugar exports after thesecond week of November,Farm Minister Sharad Pawarsaid on Wednesday.

He said the country is likelyto produce 25 million tonnessugar in 2010/11.

Fresh showers in India's keysugar producing states ofMaharashtra and Karnataka arelikely to delay cane crushing,industry and government offi-cials told Reuters. -Reuters

GAZA STRIP - PALESTINE: Palestinian farmers sort peanuts during the harvest in a field

outside the southern Gaza Strip town of Rafah, near the border with Egypt. -Agencies

LONDON: Copper rose bymore than 2 per cent onMonday after US andChinese manufacturing databoosted demand prospectsand was also supported by abackdrop of increasing mar-ket tightness.

Copper for three-monthsdelivery on the London MetalExchange closed at $8,300 atonne, versus a close of$8,199 on Friday when cau-tion about the scale and scopeof US monetary easing droveit to a three-week low.

The metal hit a high for theday of $8,376.50 a tonne afterdata showed the pace ofgrowth in the US manufactur-ing sector quickened unex-pectedly in October, raisinginvestors' hopes the US eco-nomic recovery could begathering pace.

This data followed figuresshowing China's official pur-chasing managers' index roseto 54.7 in October from 53.8in September, leaping pastexpectations, while theHSBC PMI, a private com-panion, climbed to 54.8 from52.9.

"Base metals and copperespecially got some supportfrom good PMI data in Chinaand the ISM data," saidDaniel Briesemann, com-modity analyst atCommerzbank.

"On balance, this datashowed that demand shouldbe quite strong."

The latest LME datashowed copper stocks fell by925 tonnes to 367,575 tonnes,down around a third since hit-ting a 6-1/2 year peak of555,025 tonnes in February.

Aluminium closed at

$2,372 a tonne from $2,345,zinc closed at $2,449 a tonnefrom $2,423, while batterymaterial lead was at $2,465 atonne from $2,448.

The latest LME datashowed one entity held a sig-nificant 50-80 per cent ofLME lead warrants, tom andcash positions, and two enti-ties held between 40-50 percent of tin warrant, tom andcash positions.

Tin closed at $25,600 atonne from $25,600, whilenickel was last quoted at$23,245/23,250 a tonne from$22,900 a tonne.

"There is a high possibilityof a short-term correction inindustrial metals prices asthere are several driverswhich are fully priced in tothe market in our view,"Deutsche Bank said in anote.

"This includes quantitativeeasing, a weakening US dol-lar and the prospect for basemetal ETFs." -Reuters

Copper rallies onstrong US, China data

Arabicas fallfrom highs,cocoa steady

LONDON: ICE arabica futuresprices fell on Monday havingtouched a 13-year high on Fridaydriven by supply concerns, whilecocoa was little changed after apeaceful election in top growerIvory Coast on Sunday.

ICE raw sugar futures reversedearly gains, buoyed by concernsover tight supplies, and remainedin reach of the psychological 30cents a lb, with potential to hit a30-year high above 30.4 cents,brokers said.

Arabicas consolidated afterhitting the new peaks onFriday. ICE December arabicafutures were down 4.35 cent or2.1 per cent at $1.9910 a lb at1517 GMT. On Friday,December arabicas soared 6.85cents or 3.5 per cent to close at$2.0345 per lb, the strongestsettlement for the spot contractsince September 1997.

Liffe January robusta coffeewas up $4 or 0.2 per cent at$1,974 per tonne, having earli-er touched a two-year peak of$2,010. Cocoa futures were lit-tle changed as traders tookstock of a peaceful election inIvory Coast.

ICE December cocoa was down$9 or 0.3 per cent at $2,788 pertonne in thin volume of 4,200 lots.Liffe second-month March cocoawas unchanged at 1,886 pounds atonne in low volume of 1,610 lots.A senior European physicalcocoa trader said the peacefulelection was good news for thecocoa sector in Ivory Coast andwould help to guarantee steadysupplies reaching the ports.

ICE raw sugar futures erasedearly gains and were supportedby concerns over tight suppliesfrom top producer Brazil, anduncertainty over whether No. 2producer India would permitexports of the sweetener ontothe world market.

ICE March raw sugar futureswere down 0.04 cent or 0.1 percent at 29.08 cents a lb. LondonDecember white sugar wasdown 70 cents or 0.1 per cent at$721.90 per tonne in moderatevolume of 3,731 lots. -Reuters

LONDON: Gold eased inEurope on Monday as the dol-lar firmed, but remained sup-ported after three consecutivemonths of gains by expecta-tions the Federal Reserve willunveil further US quantitativeeasing at a meeting on Nov. 2-3.

Spot gold was bid at$1,352.70 an ounce at 1516GMT, against $1,357.05 latein New York on Friday. USgold futures for Decemberdelivery eased $4.50 an ounceto $1,353.10.

Ahead of the Fed meetingstarting on Tuesday, marketexpectations have centred onan initial commitment to buyat least $500 billion inTreasury debt over fivemonths to spur lending andsupport economic recovery.

Expectations for further QEhas hurt the dollar and liftedgold in recent weeks.

"Some level of QE has beenbuilt into the gold price. If wedon't get QE then the marketwill pull back," said HSBCanalyst James Steel. "(A) moregradualist, modest approachwill keep the market steady,slightly higher."

Signs of a firmer basis to theUS economic recovery coulddampen appetite for large-scale quantitative easing, ana-lysts said. If the easing meas-ures are weaker than expected,the dollar could recover andgold come under pressure.

Reports indicated gold buy-

ing in major bullion consumerIndia had been firm in recentmonths. The president of theBombay Bullion Associationsaid India's October goldimports rose to 43 tonnes,above a Reuters poll forecastof 41.5 tonnes.

"The Diwali religious festi-val takes place in India onFriday, and physical demandfor gold should remain high inthe run-up to this holiday,"said Commerzbank in a note.

On the supply side, top 10gold producer Harmony Goldcut its guidance for full-yearoutput to around 1.64 millionounces from 1.7 millionounces.

Silver prices rose to theirhighest in 30 years, trackinggains in gold to break through$25 an ounce for the first timesince 1980, peaking at $25.03an ounce. The metal was laterbid at $24.63 an ounce against$24.64.

Holdings of the world'slargest silver-backedexchange-traded fund, theiShares Silver Trust, fell near-ly 40 tonnes on Friday, datafrom the fund showed, to10,141.92 tonnes.

Palladium extended the pre-vious month's 15 per centgains to hit a near 9-1/2 yearhigh at $655 an ounce and waslater at $646.85 an ounceagainst $643. Among otherprecious metals, platinum wasat $1,709.99 an ounce against$1,698.50. -Reuters

Gold retreats as dlrrecovers; Fed eyed

Shanghai metals ralliesBenchmark third-month

Shanghai copper rose 1.9per cent to 63,580 yuan.Shanghai zinc rose 2.9 percent.

Tokyo rubber

inches higherBANGKOK: Tokyo rubberfutures edged higher onMonday on the back ofrebounding Shanghai futuresand limited supply in produc-ing countries, but weak oilprices still weighed on the mar-ket, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for April deliveryclimbed 0.3 yen to settle at327.2 yen ($4.06) per kg. Itrebounded from an intra-daylow of 323.6 yen after theShanghai market opened andprices started rising.

"It seems like the Japanesemarket is now completely dom-inated by the Chinese market,"one dealer said.

The most active rubber con-tract in Shanghai for Maydelivery rose 680 yuan to finishat 31,420 yuan per tonne onMonday.

Dealers said TOCOM rubbercould rise further on Tuesdayafter prices finished above thepsychological level of 325 yenper kg, while limited supply inproducing countries should pro-vide additional support. -Reuters

MUMBAI: India wheatfutures may trade in a narrowrange with some positive biasduring the week on festivedemand, increase in govern-ment support prices and someexports to Bangladesh, tradersand analysts said.

"There is some increase indomestic demand due to fes-tive season," said KamalMittal, a trader in Karnal, amajor trading centre.

The most-active Novemberwheat on the NationalCommodity and DerivativesExchange (NCDEX) endeddown 0.16 per cent to 1,264.2

rupees per 100 kg on Monday.India raised the price it will

pay to domestic farmers to buynew season wheat by 1.82 percent, the lowest increase in fiveyears, signalling adequatestocks of the grain.

India will pay its farmers1,120 rupees ($25.25) per 100kg for the main winter foodcrop, as against 1,100 rupees inthe previous season,Information and BroadcastingMinister Ambika Soni said.

Analysts and traders saidthough the rise was only mar-ginal, it will still act as anincentive to farmers.

India grows only one wheatcrop a year, with planting inOctober and harvesting duringMarch-April.

Farm ministry officials saybetter soil moisture, a result ofplentiful monsoon rains, willhelp India exceed this year'sall-time high harvest.

India, which curbed grainexports in recent years to headoff domestic price rises, madesome concessions to export toneighbouring Bangladeshrecently after some global sup-pliers cancelled deals to shipBlack Sea wheat since Russiacurbed grain exports. -Reuters

Indian wheat seen ranged;festive demand to support

Saudi Arabia says consumers looking for $70 to $90 oil

10Tuesday, November 2, 2010

Manchester United's manager Alex Fergusonattends a news conference at Ataturk stadium

PCB notto back

suspendedtrio, saysIjaz Butt

Monitoring Desk

LAHORE: The PakistanCricket Board (PCB) onMonday made it clear that itwill not back the alleged spot-fixing trio suspended by theInternational Cricket Council(ICC).

Talking to the media inLahore, PCB chief Ijaz Buttsaid the suspended playersMuhammad Amir, SalmanButt and Muhammad Asif, willonly be included in the squadafter the ICC's approval.

A day eariler the ICC hadrejected the appeals of SalmanButt and Muhammad Amiragainst their suspensions.

He also informed that thenames of the 30 players for theICC Cricket World Cup 2011will be announced at the end ofthis month.

The PCB chief also brushedaside the need for a battingcoach.

Madrideyes last16 slot

LONDON: Real Madrid willqualify for the knockout stageof the Champions League if itcan maintain its supreme formand complete a Group G dou-ble over AC Milan in thestandout match of the tourna-ment this week.

Madrid and Milan, who havewon Europe's biggest prize 16times between them, met twoweeks ago when early goalsby Cristiano Ronaldo andMesut Oezil earned theSpanish club a 2-0 win.

The result kept up Madrid'sperfect record in the competi-tion, lifting it onto ninepoints. A victory at the SanSiro on Wednesday will guar-antee Jose Mourinho's side atop-two group finish andallow it to relax in its finaltwo matches.

"Our objective is to securethe top place in the group asquickly as possible," Madriddefender Ricardo Carvalhosaid. "At the Bernabeu stadi-um, we were better than theywere and now they will wantto show that they can beatus."-Agencies

DOHA: With a car crash, coro-nation and stunning on-courtretirement, there was no short-age of talking points from theWTA Championships' finalappearance in Doha.

As the dust settled on Sunday'sscintillating final between KimClijsters and CarolineWozniacki, tennis chiefs inIstanbul will be licking their lipsat the prospect of hosting theprestigious season-ending tour-nament for the next three years.

Tour chief Stacey Allasterbelieves Doha's last hurrah willbe a hard act to follow but isconfident the future of the tour-nament, and the game, arebright.

"We've had a great final yearin Doha, we could not haveasked for a better week,"Allaster told Reuters in an inter-view.

"This has been part of the jour-ney of building women's tennisin the Middle East. We could nothave asked for a better week.

"I'm excited about theChampionships in Istanbul. It'sgreat for our brand to go to anew market and have an oppor-tunity to build women's tennis inTurkey."

There was plenty of action onan off the court before Sunday'sfinal, which Clijsters eventuallywon in three sets.

The Belgian narrowly escapedinjury from a car crash on theway to her semi-final,Wozniacki was crowned theyear-end world number one andRussian veteran ElenaDementieva stunned the crowdby announcing her retirementshortly after her final groupgame.

Allaster said women's tenniswas flourishing because itbridged the gap between sportand entertainment, which hadattracted more sponsors despitedifficult economic times.

"These are the very bestfemale athletes in the world, andthere's a duality of sport and

entertainment," she added."So if you are a brand that

wants sport in the classical senseyou are probably going to investin men's sport.

"But if you are a brand thatwants sport, power, athleticismand inspiration crossing over tolifestyle, women's tennis is agreat brand to align with."

The absence of injuredWilliams sisters Serena andVenus has been a major talkingpoint throughout theChampionships, and Allasteracknowledged the void waskeenly felt. "There's no doubt wewould have loved to haveSerena and Venus here with usthis week. They were our final-ists last year and they are two ofthe finest female tennis playersour sport has ever had," she said.

There were seven differentnationalities represented at theseason-ending tournament,which Allaster said boded wellfor the game's global growth.-Reuters

WTA C’ships sign off from Doha in style

LONDON: Graeme Swannbecame England's first injuryscare of their tour ofAustralia when he was struckon the thumb while batting inthe nets during the squad'sfirst training session at theWACA on Monday. However,the extent of the damage wasquickly played down by histeam-mate Stuart Broad, asEngland set their sights ontheir opening first-classwarm-up match againstWestern Australia on Friday.

Swann is currently thehighest-ranked spin bowlerin the world, and is widelyconsidered to be England'skey weapon going into theAshes. So there was under-standable concern when hewas struck on the thumb by arising delivery from TimBresnan. He received icetreatment and strapping, buthis upbeat body languagesuggested that no long-termdamage had been inflicted.

"He's fine. It's just a bit ofprecautionary strapping,"

Broad told reporters after thesession. "I don't think he's inany trouble at all. He just gota bit of a blow, which you'reused to in nets. I think he'spleased his thumb got himout of the running."

"Thanks to both of you whoenquired about my thumb,"Swann later wrote on hisTwitter feed. "It's fine, I justlike my boiled eggs runny."

Swann was neverthelessthe third member ofEngland's bowling contin-gent to suffer an injuryworry, following the ribinjuries sustained by JamesAnderson and Chris Tremlettduring the pre-series bondingsession in Bavaria lastmonth. Anderson, however,took part in the nets sessionwithout any obvious discom-fort, although having beendiagnosed with a fracture, hemay not be risked untilEngland's subsequent prac-tice matches at Adelaide andHobart later this month.-Online

Swann upbeatafter injury scare

LONDON: Briton LeeWestwood took over as worldnumber one when the newrankings were published onMonday after Ryder Cup teammate Martin Kaymer finisheddown the field at the AndaluciaMasters.

Westwood ended TigerWoods's unprecedented 281-week reign at the top of therankings after German Kaymerfinished with a closing 75 for aseven-over-par tally of 291 atValderrama on Sunday.

Speaking to a teleconference

from his home on Sundaywhile he rests his calf musclebefore next week's WGC-HSBC Champions inShanghai, Westwood was in nodoubt this was his finest

moment despite not actuallybeing on a golf course.

"To be able to sit down andsay there's nobody better rightnow, I think it has to be thehighlight," the 37-year-oldsaid. "When you're growing upand people say 'What do youwant to achieve?', you say 'Iwant to be the best in theworld'.

"It's a planet isn't it? I'm thebest on the planet."

The Englishman will have tokeep a close eye on Woods andwas expecting the American to

come right back at him inChina.

"That's the kind of relation-ship we have. I give him a littlebit of stick and he gives itback," he said.-Reuters

Westwood endsWoods’ 281-wk reign

ABU DHABI: Shortly afterplaying the "greatest innings"of his career, Pakistan all-rounder Abdul Razzaq hasurged the team managementand administration to worktowards removing the uncer-tainty players feel over theirplace in the team becausesuch an atmosphere is coun-terproductive to Pakistan'ssuccess.

Razzaq, who blitzed 109off 72 balls to wrench thesecond ODI from SouthAfrica's grasp in Abu Dhabi,said he too felt insecureabout his spot in the side andthat Pakistan had failed tomaximise his potential overthe years.

"I always play the match asif it is my last," Razzaq said."If players have this constantfear hanging over them thatthey will fail and then bedropped then they will neverbe able to perform properly.

Even I felt that if I didn't doanything in this game Iwould be dropped. Thisthreat has to be removedfrom the team because it isnot productive.

"Those guys who don't per-form for a couple of matches,they shouldn't be dropped soquickly. They need to beencouraged and their moraleneeds to be boosted."

Razzaq launched hisbreathtaking assault againstSouth Africa from No 7 in theline-up, a position at whichhe's batted 81 times in his245-ODI career. The remain-der of his innings, however,has been spread over everyposition, from opener to No11. He's also not been a regu-lar member of the ODI side,despite his match-turningpotential, and was exiled fortwo years for his associationwith the unofficial IndianCricket League.

"I think my talent has notbeen properly utilised both inbatting and bowling, espe-cially, my batting spot hasnever been permanent,"Razzaq said. "I don't think Ihave been utilised properlyover the last five or six yearsas a batsman."

Razzaq hoped his centuryagainst South Africa wouldlift Pakistan cricket, which isreeling from spot-fixing alle-gations and poor on-fieldperformances. "Every timethere is a controversy or welose one or two matches,people start to write us off,which is wrong," Razzaqsaid. "I would request thefans to please keep faith inus so that we can lift our-selves."

The ODI series betweenPakistan and South Africa islevel at 1-1 ahead of the thirdmatch on Tuesday in Dubai.-Agencies

Razzaq urgesfor removing

players’ insecurity

AHMEDABAD: India's Tendulkar walks to bat in the nets as captain Dhoni exercisesduring a practice session before their first test cricket match against New Zealand.-Reuters

Ferdinandto miss

United’snext outing

MANCHESTER: DefenderRio Ferdinand will missManchester United'sChampions League match atBursaspor, the Premier Leagueclub said on Monday.

United gave no reason forthe absence of the Englandcentre back, who played thefull 90 minutes of his team's 2-0 win over Tottenham Hotspuron Saturday.

"Ferdinand... will not featurein Tuesday's clash with theTurkish champions," a state-ment on the club's website(www.manutd.com) said afterthe team checked in atManchester Airport withoutthe 31-year-old.

"That may pave the way forChris Smalling to make histhird European appearance ofthe season alongside NemanjaVidic in the centre of defence."

United lead Group C withseven points from three match-es, with Scottish championsRangers second on five.Spain's Valencia are third onfour points, while Bursasporare bottom with zero.-Reuters

DOHA: Caroline Wozniacki of Denmark and Kim Clijsters of Belgium hold their trophiesafter their WTA Championships final tennis match.-Reuters

Pak-Thai

soccer clash

on SundayLAHORE: The seventhPakistan-Thailand clash ininternational soccer arena -the first in U-23 event - willbe recorded in 16th AsianGames Football Tournament(Group-F) when both theteams will face each other inthe Huangpu Sports Center,Guangzhou on Sunday,November 07.

According to a pressrelease, Pakistan will faceThailand during the footballevent of XVI Asian Games tobe held under OlympicCouncil of Asia (OCA) atChinese city Guangzhoufrom November 7-26.

The Pak-Thai tussle wouldbe played 5 days prior to theopening ceremony atHaixinsha Island in the PearlRiver. Other Pakistan's oppo-nents in Group-F will beMaldives and Oman.

Thailand is 61 places betterthan Pakistan in FIFA/Coca-Cola World Ranking issuedon October 20.

The Thai's record in trackrecord between two nations isappreciable, winning five ofthe last six matches.

They will be hard nut tocrack, enjoying 108th berthin ranking, compared toPakistan's 169.-NNI

The new world golf No 1

NZ managerquits afterBD thrash

WELLINGTON: NewZealand Cricket (NZC) generalmanager Geoff Allott saidMonday he will step down atthe end of the month, makinghim the first casualty of theBlack Caps' unprecedentedseries loss to Bangladesh.

Allot said the 0-4 whitewashto Bangladesh last month,described by local media as alow point in the team's history,showed the NZC had to rethinkits strategy and he was not partof the plan.

"I have effectively restruc-tured myself out of a job, but Itruly believe this to be in thebest interests of cricket," theformer international bowlersaid. "This was a difficult deci-sion for me to make because Iam passionate about the gamethat has given me so much."

Allott had initially describedthe Bangladesh whitewash as a"bad hiccup" and insisted nomanagement overhaul wasneeded for the Black caps tobounce back.-APP

11Tuesday, November 2, 2010

International & Continuation

CONTINUATION

LONDON: Manufacturinggrowth in China and India pow-ered ahead last month and UKindustry also picked up steam,data showed on Monday, coun-tering sluggishness in the USeconomy and a falteringJapanese recovery.

Two surveys of Chinese execu-tives showed broad-basedstrength in the manufacturingsector of the world's second-largest economy and helpedboost Asian shares outside Japanby two per cent.

The official purchasing man-agers' index (PMI) rose to a six-month high in October of 54.7from 53.8 in September, easilybeating market forecasts of 52.9.

A figure above 50 denotesexpansion; a reading below 50indicates contraction.

Equivalent surveys fromEurope are due on Tuesday butBritain's PMI showed manufac-turing growth picked up pace lastmonth for the first time sinceMarch.

Flash October figures forGermany, released last month,

also gave a strong readingalthough much of Europeremains mired in debt and poisedto cut public spending to dealwith it -- a move that will crimpeconomic growth going forward.

The unexpected rise inBritain's index to 54.9 willincrease doubts that the Bank ofEngland will soon embark onmore quantitative easing. It fol-lowed official data last week thatshowed the UK economy grew asurprisingly strong 0.8 per cent inthe third quarter from the second.

Investors are in little doubt,however, that the FederalReserve, which holds a policymeeting on Tuesday andWednesday, is poised to injectmore money into a struggling USeconomy.

The United States reported onFriday that its economy grew at atepid 2.0 per cent annualised ratein the third quarter, reinforcingexpectations the Fed will agreethis week to embark on a newprogramme of bond purchases.

US October ISM data -- whichmatch the PMIs -- is due later in

the day and forecast to edgedown.

"Quantitative easing is whatthe market's focused on. That'lllift all boats," said James Holt, aSydney-based investment spe-cialist at BlackRock, the world'sbiggest fund manager.

Manufacturing in India --Asia's other emerging power-house -- put in a performanceevery bit as strong as China's.

The HSBC Markit PMI forIndia, Asia's third-largest econo-my, rose to 57.2 in October from55.1 in September.

"The manufacturing sectorremains supported by stronglocal consumption growth, andgrowing employment suggeststhat domestic demand willremain robust," FredericNeumann, co-head of AsianEconomics Research at HSBC,said.

The strength of China's officialPMI was especially strikingbecause the index normallyheads down in October, said YuSong and Helen Qiao, econo-mists at Goldman Sachs.-Reuters

China and Indialead way in Asia,

UK perks up

NEW YORK:Surprisinglystrong growth last month in theUS manufacturing sector wasgood news for a sluggish econo-my but was probably too little,too late to stop the FederalReserve from more monetaryeasing.

The quicker pace of factorygrowth was also tempered by aseparate report showing US per-sonal income fell in Septemberwhile consumer spendingremained tepid.

The data was among the lastbefore central bank officialsgather Tuesday and Wednesdayto assess the economy and itsuneven recovery from the worstdownturn in 80 years.

The Fed is expected to injectmore money into the economythrough bond purchases, and thatview was bolstered by the con-sumer data, which showed noinflation pressure in the econo-my.

All of that overshadowed

news that the Institute for SupplyManagement's index of nationalfactory activity rose to 56.9 inOctober from 54.4, with theemployment, new orders andprices paid components of theindex also rising.

"The focus will be on the elec-tions and the Fed this week, sothe impact from this won't be asstrong as it would have been oth-erwise," said David Kupersmith,head trader at Third WaveGlobal Investors in Greenwich,Connecticut.

"But the ISM is one of themost important pieces of dataout there and the Fed will belooking at it as it prepares itscomments," he added.

US stocks rose, boosted partlyby strong US and Chinese facto-ry data, while the dollar rose andUS Treasury prices turned nega-tive.

Alan Ruskin, global head ofG10 currency strategy atDeutsche Bank, said the Fed

won't be able to change courseeasing based on one strong ISMreport.

But he said it would providefuel for Fed hawks who aredubious about more easing and"will tend to add to expectationsthat the Fed will want maximumflexibility to turn off the printingpress" should strong economicdata warrant it.

Separate data Monday showedUS construction spending roseunexpectedly in September,driven by a one-year high ininvestment in public projects.

Beyond manufacturing,though, the economy still looksless than robust. The CommerceDepartment on Monday saidconsumer spending rose 0.2 percent in September after advanc-ing 0.5 per cent in August. It washeld back by a surprise 0.1 percent decline in income, the firstslide since July 2009.Economists had expected a 0.2per cent gain.-Reuters

US factory growthquickens; more

Fed easing on tap

Babri CottonXB 1st Qtr - 17.782 6.14

Bannu WoollenXD 1st Qtr - 54.170 7.12

Bestway Cem 1st Qtr - -185.864 -0.57

Chakwal Sp.XD 1st Qtr - 22.731 0.57

Climax Eng. 1st Qtr - -2.552 -0.77

Colony Mills Ltd 1st Qtr - 39.568 0.16

Crescent FibresXD 1st Qtr - 66.955 5.39

D.S. Ind. Ltd. 1st Qtr - -31.558 -0.53

Data Agro 1st Qtr - -3.576 -0.89

Data Textile 1st Qtr - -1.309 -0.13

Dewan Auto Engg 1st Qtr - -59.990 -2.80

Dewan Cement 1st Qtr - -173.394 -0.46

Dewan Farooque Sp. 1st Qtr - 18.490 0.31

Dewan Khalid 1st Qtr - 18.485 3.25

Dewan Motors 1st Qtr - -41.810 -0.47

Dewan Mushtaq 1st Qtr - 28.018 8.16

Dewan Textile 1st Qtr - -1.602 -0.12

F.Cap.Mut.Fund 1st Qtr - 2.961 0.10

Flying Cement 1st Qtr - -28.864 -0.16

Gatron Indust.XD 1st Qtr - 178.782 4.66

Genertech 1st Qtr - -6.713 -0.34

Ghazi Fabrics XD 1st Qtr - 50.063 1.53

Gillette Pak 1st Qtr - -10.845 -0.56

Globe (O.E) 1st Qtr - 5.824 1.25

Globe Textile 1st Qtr - -6.755 -0.41

Goodluck IndXD 1st Qtr - 0.406 1.35

Grays of Cambr.XD 1st Qtr - 2.866 0.39

Gulistan Sp.XD 1st Qtr - 19.177 1.31

Gulistan TextileXD 1st Qtr - 78.930 4.16

Gulshan Sp.XDXB 1st Qtr - 38.223 2.06

H.M.Ismail 1st Qtr - -2.249 -0.19

Hajra Textile 1st Qtr - -12.305 -0.89

Hashimi Can 1st Qtr - -4.494 -2.73

Huffaz Pipe 1st Qtr - 21.963 0.40

I.C.C.Textile 1st Qtr - -24.297 -2.43

Int. Ind.Ltd.(Consolidated) 1st Qtr - 140.866 1.28

Int. Ind.Ltd.(Unconsolidated) 1st Qtr - 144.059 1.20

Ishtiaq Textile 1st Qtr - 5.506 1.30

Ist.Capital Sec.XB 1st Qtr - -4.943 -0.02

Janana D Mal 1st Qtr - 65.675 15.25

Javedan Cement 1st Qtr - -171.404 -3.04

Khurshid Spinning 1st Qtr - -17.526 -1.33

Kohinoor Ind. 1st Qtr - -13.075 -0.43

Kohinoor Power 1st Qtr - 5.226 0.41

Kohinoor Sp.XD 1st Qtr - 90.338 0.69

Leiner Pak Gelatine 1st Qtr - -6.595 -0.88

MACPAC Films 1st Qtr - -5.820 -0.15

Mohd.Farooq 1st Qtr - -117.282 -6.21

Moonlite (PAK) 1st Qtr - -5.815 -2.69

Mustehkam Cement 1st Qtr - -53.244 -1.28

N. P. Spinning XD 1st Qtr - 10.458 0.71

Netsol Technol.XD 1st Qtr - 194.760 -

Netsol Technol.XD(Consolidated) 1st Qtr - 215.675 2.64

Olympia Spinning 1st Qtr - -26.696 -2.22

Pace (Pak) Ltd. 1st Qtr - -108.886 -0.39

Pak ModarabaXD 1st Qtr - 0.650 0.05

Paramount SpXDXB 1st Qtr - 53.983 3.42

Pervez Ahmed 1st Qtr - -3.534 -0.05

Punjab Oil MillsXD 1st Qtr - 12.732 3.33

Quetta TextileXD 1st Qtr - 200.237 15.40

Ravi Textile 1st Qtr - -12.221 -0.49

Redco Textile 1st Qtr - -3.690 -0.07

Reliance CottonXD 1st Qtr - 146.775 14.26

Resham TextileXD 1st Qtr - 58.889 1.64

Ruby Textile 1st Qtr - -1.019 0.03

S.S.Oil 1st Qtr - 16.442 2.91

Salman NomanXB 1st Qtr - 2.349 0.59

Samin Textile XR 1st Qtr - 4.036 0.30

Sapphire FiberXD 1st Qtr - 528.614 26.85

Sapphire TextileXD 1st Qtr - 590.658 29.41

Saritow Spinning 1st Qtr - 20.226 1.52

Saudi Pak Leasing 1st Qtr - -59.119 -1.31

Service Textile 1st Qtr - -1.295 -0.16

Sitara EnergyXD 1st Qtr - 25.571 1.34

Southern Network 1st Qtr - -4.118 -0.08

Taha Spinning 1st Qtr - -2.774 -0.45

Taj Textile 1st Qtr - -12.893 -0.39

Telecard SPOT 1st Qtr - 251.746 0.84

Transmission Engg. 1st Qtr - -3.174 -0.27

Tri-Star 1st. Mod. 1st Qtr - -0.060 0.00

Tri-Star Mutual 1st Qtr - 0.436 0.09

Tri-Star Polyester 1st Qtr - -2.346 -0.11

U.D.L.Mod.XD 1st Qtr - 23.118 0.88

Yousuf Weaving 1st Qtr - 28.779 0.72

ZahidJee Textile 1st Qtr - 64.027 1.88

Azgard Nine 3rd Qtr - -488.179 -1.12

Azgard Nine(Consolidated) 3rd Qtr - 150.764 -0.19

Ittefaq Gen.Ins. 3rd Qtr - -0.269 -0.27

Silver Star Ins. 3rd Qtr - 30.504 1.21

Singer Pak Ltd. 3rd Qtr - 22.867 0.67

Mukhtar Textile Yearly - -6.714 -0.46

Saleem Denim Yearly - -1.165 -0.30

Continued from page 5No #1

where according to NCCPL data they did a ne- buying of $3.74million on Monday while local funds did a net-selling of $3 mil-lion. Pak Strategic Fund was the top most traded stock of the daywith 7.5 million shares followed by Amtex with 4.89 millionshares and Fatima Fertilisers with 3.95 million shares.

Out of total 401 active issues; 248 declined and 145 advancedwhile 8 issues remained unchanged.

Continued from page 5No #3

global economy at a time of sluggishness in the United Statesand most of Europe and a faltering in Japan's recovery.

India's manufacturing sector expanded in October at a muchfaster pace than in September, supported by strong output and asharp rise in new business, a purchasing managers' index (PMI)showed on Monday. The benchmark index has gained 16.6 percent so far in 2010, with foreign funds inflows into Indian sharestotalling $24.6 billion. Reliance Industries rose as much as 8.3 percent to 1,187 rupees, its best level since August 2008, after theenergy firm posted its highest quarterly profit in nearly threeyears, and increasing output at its main gas field is seen as key toearnings growth even as it diversifies into other sectors.

The stock later erased all of its gains and closed 0.3 per centlower. "With uncertainty continuing on further ramp-up from theKG-D6 gas fields, we believe investors will no longer considerRIL a defensive stock," HSBC said in a note on Saturday while

Continued from page 5No #4

there are so many uncertainties until key economic releases areout and the US mid-term elections are over," Angus Campbell,head of sales at Capital Spreads, said.

"The fact that we retreated from the highs of the morning fol-lowing the UK data gives further evidence that good news is badnews if it means less QE."Worries over how much cheap moneythe Fed might pump into the system to boost growth heightenedafter some upbeat economic data from the United States, althoughit was probably too little, too late to stop the Federal Reserve frommore monetary easing.

The pace of growth in the US manufacturing sector quickenedunexpectedly in October, while US construction spending roseunexpectedly in September as investment in public projectstouched the highest level in more than a year.Earlier, a survey ofpurchasing managers showed British manufacturing growthaccelerated last month, all but ending any hopes that the Bank ofEngland would extend its own QE programme before the end of2010, traders said. Weir Group shed 1.4 per cent after the engineerissued a trading update.Retailers Next and Marks & Spencer fell2.0 and 1.7 per cent ahead of results.-Reuters

Continued from page 5No #5

BOJ policy meetings," said Tsuyoshi Segawa, an equity strate-gist at Mizuho Securities."The peak of the first part of Japan'searnings season is over and disappointing numbers have begun toappear after a solid start, though the majority haven't reportedyet."The benchmark Nikkei ended the day down 0.5 per cent at9,154.72, its lowest close since Sept. 9.The broader Topix fell 0.9per cent to 803.30. A further slip below 800.69, hit on Sept. 1,would bring it to its lowest in 19 months. A sudden jump in thedollar against the yen in early trade prompted speculation of inter-vention by Japanese authorities, but the greenback gave up thegains very quickly as traders cited talk of a possible technicalglitch rather than intervention.

The move led to a brief push by the Nikkei into positive territo-ry.Shares in Shanghai and Kong Kong were higher after China'sofficial purchasing managers index (PMI) blew past expectationsto rise to a six-month high of 54.7 in October from 53.8 inSeptember.Hurt by worries about the strength of the yen and itsimpact on corporate earnings, the Nikkei shed 1.8 per cent inOctober. It fell 2.4 per cent last week, its worst weekly fall in twomonths.Analysts expect the US central bank to announce a newround of bond purchases of about $100 billion a month when itsmeeting concludes on Wednesday. Quantitative easing is viewedas negative for the dollar as it increases the supply of dollars,diminishing its value.-Reuters

Continued from page 5No #6

"The data today reinforces that we have a sustainable expansion,albeit it's below average," said Henry Smith, chief investmentofficer at Haverford Trust Co. in Philadelphia. "It's good to see themarket reacting to the positive data, although our expectation isthat ... this might be short-lived because it has the feel that we'rebuying into the two big pieces of news this week... We wouldn'tbe surprised to see a little bit of selloff on Wednesday." US vot-ers go to the polls on Tuesday to decide congressional and otherraces, while the Federal Reserve begins a two-day policy meeting.

The market has risen in recent months mainly on expectationsthe Fed will add monetary stimulus this week and also thatRepublican Party will make gains in Congress. The anticipatedchange is due to concern about high unemployment and con-sumers' views on how Democratic President Barack Obama ishandling the economy.-Reuters

Continued from page 5No #7

downgrading the stock to underweight from neutral. "We expectRIL to gradually turn into a cyclical stock, which would be driv-en more by refining and petrochemical margins.-Reuters

Sherpao, and other parliamentarians.According to statement issued after the meeting, the committee

members expressed the resolve that the supremacy of parliamentwould be maintained at every cost while committee would alsoensure protection of judiciary in line with the constitution. Themeeting also voiced satisfaction over the steps taken by theSupreme Court (SC) for referring back the constitutional provi-sion related to appointment of judges to parliament for reviewingit again.Sources told Online that the members of the committeeinformed the Chairman about difference of opinion regarding theSC interim order and requested to constitute a sub-committee inthis regard.Rabbani has sought recommendations from all politi-cal parties being represented in the constitutional committee inconnection with implementation of SC orders. -Agencies

Continued from page 12No #2

respective provinces. For the Rabi season 2010-11, dry seasonwas forecast during the months of November and December whilenormal precipitation was expected during January to March 2011which is encouraging for the Rabi season crops. The ministerdirected the Meteorological Department to release a package ofinformation containing next season forecast in detail for farmersof different areas of the country.About the status of agriculturalinputs, the minister said during 2009-10, total disbursement by

Continued from page 1No #8

of its senior leader.Meanwhile, MQM has decided to suspend all its political activities for three-day in mourning of Dr Imran Farooq funeral procedures. -Agencies

Continued from page 1No #9

who along with a delegation called on him, PM Gilani said that European Union's commitment togrant exclusive enhanced market access to Pakistan through deduction of duties on 75 products, hasgenerated hopes for a desire of long time engagement by the EU with Pakistan.

Prime Minister thanked Jean Lambert for her and the delegation's strong advocacy of Pakistan'scase in the European Parliament. He expressed confidence that the delegation for South Asian coun-tries in the European Parliament would continue to accord its full support to Pakistan in the future.Jean Lambert while thanking the Prime Minister for sparing time to meet her and her colleaguesThijs Berman conveyed her commiserations on the devastation caused by the recent floods to theinfrastructure and set back suffered by Pakistan's economy.She assured the Prime Minister that EUwould remains steadfast in its support to help Pakistan overcome its present economic challengesand that Baroness Ashton would be coming to Pakistan Development Forum's meetings with aPackage of assistance towards that end. -Agencies

Continued from page 1No #10

The star sector which showed highest profitability was textile, in which Nishat Mills and NishatChunia reported significant growth of 163 per cent and 433 per cent respectively -- mainly drivenby higher cotton prices. Companies' profitability stands at Rs1828 million in 1QFY11 against Rs603million in corresponding last year. Gas marketing sector remained the second-best in terms of percentage-wise profitability where SSGC performed well.Cumulative earnings of the listed companiessurged by 170 per cent to Rs1.57 billion against Rs583 million witnessed in 1QFY11 primarily dueto Ogra has increased UFG benchmark at 7 per cent and allowed income from late payment sur-charge as other income.Besides that the other sectors that supported the corporate earnings growthwere chemical, E&P, IPPs and banks which posted profit of Rs1.69 billion (+159 per cent), Rs27.10billion (+43.4 per cent), Rs3.31 billion (+35.3 per cent), and Rs17.78 billion (+6.4 per cent) respec-tively. On the other hand, cement sector, fertiliser, telecom and auto sector showed drop in profitabil-ity due to devastating post-flood impact on above mentioned sectors as it earnings dropped to Rs247million (-86.5 per cent), Rs953 million (-71.4 per cent), Rs4.07 billion (-19.3 per cent), Rs2.08 bil-lion (-19 per cent), and Rs686 million (-15.3 per cent) respectively.

Continued from page 1No #11

The US military has made more than 30 airstrikes from pilotless planes in North Waziristan dur-ing the last two months. -Online

Continued from page 1No #12

six months in consultation with coalition partners and stakeholders. This, he said, while addressinga meeting of the Sindh Ministers belonging to the PPP at Bilawal House.Spokesperson to thePresident, Farhatullah Babar said the meeting was also attended by Sindh Chief Minister Syed QaimAli Shah, provincial ministers and senior federal and provincial government officials.

The meeting took stock of the law and order situation, the recent spate of alleged targeted killings,the flood relief measures and issues relating to coalition in the province.Provincial ministers ZulfiqarMirza, Manzoor Hussain Wassan, Siraj Durrani, Syed Murad Ali Shah and Ali Nawaz Shah alsomade brief presentations about their respective ministries.The president also advised the provincialgovernment to speed up legislation for the reinstatement of provincial employees who were sackedafter the removal of PPP government in 1996 for political reasons, as has been done by the federalgovernment in respect of federal employees.President Zardari also advised the provincial govern-ment to set up a separate ministry for overseeing the flood rehabilitation and reconstruction effort.

Continued from page 1No #13

order to discuss and address the issues arising on completion of 3-years' term of appointment ofAdnan Afridi as Managing Director of the Exchange, who intimated his unavailability for the nextterm and relinquished his charge accordingly. In this connection, the Board has appointed HaroonAskari as Acting Managing Director of KSE with immediate effect.Askari has been serving theExchange as General Manager - Operations since December 01, 2005 and will continue in the capac-ity of Acting Managing Director till the formal appointment of new Managing Director.

Continued from page 1No #14

chairman Federation of Pakistan Chamber of Commerce and Industry (FPCCI) standing commit-tee on LPG and All Pakistan LPG Distributors Association Hadi Khan in a statement here onMonday. He said, though imported price of the LPG has registered the unprecedented rise in thelocal market, the importers did not raise its retail prices. Hadi urged the government to ensure thatlocal producers should not raise the price of locally produced LPG in proportion with Saudi Aramco.

He also urged the government to remove 17 per cent sales tax on the import of LPG toensure that its prices are not enhanced and in the country. Hadi pointed out the consumptionof the LPG in the winter has been enhanced from 1900 tonnes to 2000 tonnes per day where-as local producers were still producing 1400 to 1500 tonnes per day, creating a gap of 500tonne between the demand and supply. The withdrawal of sales tax on imported LPG is mustto reduce the difference between LPG's demand and supply and to facilitate its import, heobserved.Hadi said that a total of 48195 tonne of LPG has been imported between the firstten months of current year starting from January to October 31, 2010.This is the reason whythe LPG prices are still stable in the country, he added.

Continued from page 1No #15

State Bank of Pakistan was Rs248 billion which were 95 per cent of the total allocation.Elaborating the fertiliser availability for Rabi Season, Nazar Gondal informed that total availability of

urea fertiliser would be 3.4 million tonnes that would be sufficient to meet the local requirement.Totalavailability of DAP fertiliser for the season is 799,000 tonnes against the local requirement of 670,000tons, availability position of DAP is quite comfortable, he added. Nazar Gondal said that local produc-tion of DAP is estimated as 324 thousand tonnes with carry forward stock 419 thousand tonnes.The min-ister directed the provinces to negotiate with fertiliser companies to devise a price stipulation mecha-nism of DAP fertiliser in the country. Sufficient availability of wheat, gram, lentil, oil seeds and fodderseeds was reported for the forth coming Rabi season. Wheat seed availability was 729,000 tonnes whichis 67 per cent of the total wheat seed requirement (1,085,000 tonnes).Provinces were directed to liftwheat seed from Punjab province for planting in the flood affected areas. -Agencies

Recoverymore

fragile thanexpected: IEASINGAPORE: Global eco-nomic recovery has been morefragile than expected and oilinventories remain very high,Nobuo Tanaka, executive direc-tor of the International EnergyAgency (IEA) said on Monday.

He also cautioned about thecreation of an asset bubble incommodities following the sec-ond round of quantitative eas-ing by the US Federal Reserve.

"The economic recovery hasbeen a bit more fragile thanpeople thought," he toldReuters in an interview at theSingapore International EnergyWeek conference.

"There's still some uncertain-ty about recovery in Europe,while China is concerned aboutinflation and they're tighteningpolicy."

Tanaka said the oil marketwas currently very well sup-plied. "OECD stock levels arevery, very high -- historicallyhigh, and this situation willcontinue well into next year."

The IEA, which advisesmajor industrial nations onenergy policy, remains con-cerned about a rapid rise in oilprices.-Reuters

approval to increase the tariff by 2 per cent. An announcement is likely to be made at any timein this respect. Raja Ashraf told the media that nominal raise in power tariff was inevitableand government would try to cover it in fuel adjustment surcharge.He will get briefing fromhis ministry on hike in power tariff and the tariff will be increased in the light of Nepra rec-ommendations. The prime minister directed during his address that minimum burden be shift-ed to masses as they were already much worried over hike in petroleum products. -Agencies

Continued from page 1No #16

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BAGHDAD: Iraqi Christian lawmaker, Younadem Kana (center left) Iraq's top Catholic prelate, ChaldeanCardinal Emmanuel III Delly, center, and Bishop Shlimone Wardoni (center right) are seen outside

Our Lady of Deliverance church the morning after its congregation was taken hostage. -Reuters

BAGHDAD: Iraq's dwindlingChristian community was grievingand afraid on Monday after mili-tants seized a Baghdad church dur-ing evening Mass, held the congre-gation hostage and triggered a raidby Iraqi security forces.

The attack left at least 52 peoplekilled and 67 wounded - nearlyeveryone inside.

The attack, claimed by an alQaeda-linked organisation, is thelatest assault against Iraq'sChristians, whose numbers haveplummeted since the 2003 US-ledinvasion as the community has fledto other countries.

Outside Our Lady of Deliverancechurch, Raed Hadi leaned againstthe car carrying his cousin's coffin,waiting for the police to let himbury him on church grounds.

"It was a massacre in there andnow they are cleaning it up," hesaid Monday morning.

"We Christians don't haveenough protection, what shall I donow? Leave and ask for asylum?"

"Now they make a show," saidJamal Jaju, who watched as Iraqi

forces set up a chain link fencearound the church and pushed backobservers. "What can I say? I lostat least 20 friends in there."

Pope Benedict XVI denouncedthe assault as "ferocious" andcalled for renewed internationalefforts to broker peace in theregion. Catholics made up 2.89 percent of Iraq's population in 1980;by 2008 they were merely 0.89 percent.

Sunday's bloodbath began atdusk, when militants wearing sui-cide vests and armed withgrenades attacked the Iraqi stockexchange.

Only two guards were injured inthe assault, which may have beenan attempt by the militants todivert attention from their real tar-get - the nearby church in anupscale Baghdad neighborhood.

That attack soon followed. Thegunmen went inside the churchand took about 120 Christianshostage.

Maj Gen Hussein Ali Kamal, thedeputy interior minister, said 52people were killed and 67 wound-

ed. The dead included at least 10policemen, two priests and five toeight attackers, according to vari-ous accounts.

It was unclear whether mosthostages died at the hands of theattackers or during the rescue.

According to two security offi-cials, most of the deaths were inthe basement where a gunmankilled about 30 hostages whenIraqi forces began to storm thebuilding.

One official said the gunman setoff an explosives vest he waswearing, but the other said thegunman threw two grenades at hishostages. Both spoke on conditionof anonymity because they werenot authorized to talk to journal-ists.

The group, which is linked to alQaeda in Iraq, said it would "exter-minate Iraqi Christians" if Muslimwomen in Egypt were not freed.

It specifically mentioned twowomen that extremists maintainhave converted to Islam and arebeing held against their will inEgypt.-Reuters

Iraq church raidleaves 52 dead

ISLAMABAD: Minister for water andpower, Raja Pervaiz Ashraf has saidthat the process of power sector reformsis in its last stages and will be complet-ed within next eight months.

He expressed these views while pre-siding over a meeting with the joint del-egation of IMF, World Bank and ADBheaded by Adnan Mazari held hereMonday.

The Minister said that the governmentis taking all the steps to make the pub-lic power sector viable and more effi-cient.

The government has inherited theenergy crisis and steps are being takento meet this challenge.

He said that the government is alsoresolving the circular debt issues,adding new empowered board of direc-tors of Discos and Gencos are being setup to give them autonomy. A compre-hensive plan is being adopted toimprove the efficiency of the public

sector entities, he added.The delegation also discussed reduc-

tion in line losses, improvement inrecovery Nepra amendment act, subsidyon tariff and related issues. It assuredthat all assistance and cooperation willbe provided for improvement of the sec-tor and to end the energy crisis.

Earlier, the delegation was briefed onthe progress so far on power sectorreforms. The delegation was informedthat about 500 employees of Pepcohave been repatriated to their parentdepartments, business plans of Gencosand Discos are being prepared, smartmeters are being introduced, consumerclassification survey is being planned,and the draft of the Nepra act is in theparliament for consideration andapproval.

Adviser of the Ministry, ChairmanWapda and other senior officials of theMinistry were also present in the meet-ing. -APP

Power reformsenter last phase

SECP extendsCRS, CEESschemes for

1mth moreISLAMABAD: The Securitiesand Exchange Commission ofPakistan has further extendedthe validity period of theCompanies RegularizationScheme (CRS) and theCompanies Easy Exit Scheme(CEES), for another month upto Nov 30, 2010.

These schemes were initiallyoperative for three months,from July 1, 2010 to Sept 30,2010.

On public demand, theseschemes were initially extendedfor one month up to Oct 31,2010. Both schemes havereceived an overwhelmingresponse from the corporate sec-tor. Upon receipt of furtherdemand for extension in validityperiod of the schemes from thecorporate consultants, associa-tions and relevant quarters, theSECP has further extended themfor a month. The companies areadvised to take advantage of theschemes by either regularisingthrough filing of their overduereturns under the CRS or gettheir companies struck off theregister under the CEES.

The companies are alsoadvised to file their annualreturns within 45 days in caseof listed companies and 30days in case of other compa-nies, of holding of the annualgeneral meetings (AGMs).

The annual audited accountsare to be filed within 30 days ofthe AGMs and Form 29 within14 days of any appointments orchanges. -APP

F-9 Park Case

Lashari told to argueself-defence

ISLAMABAD: SupremeCourt of Pakistan Mondaydirected Kamran Lashari, for-mer chairman CapitalDevelopment Authority(CDA), to appear today(Tuesday) and argue his appli-cations filed against the apexcourt's directive for initiation oflegal proceedings.

A three-member bench com-prising Chief Justice IftikharMuhammad Chaudhry, JusticeGhulam Rabbani and JusticeKhalil-ur Rehman Ramdayissued directive after hearingAbdul Hafeez Pirzada, the sen-ior counsel, who pleaded toargue his case. The bench toldhim that since Kamran Lasharihad pleaded his case duringhearing of suo moto case on theissue of F-9 (Fatima Jinnah)Park, therefore, he should comeforward and argue. The benchsaid that it was not hearing areview plea.

The Chief Justice told himthat the plea would have beencompetent if the bench washearing a review plea. Thebench was providing Lashariwith an opportunity to argue hiscase, he added. -Agencies

ISLAMABAD: ParliamentaryCommittee on ConstitutionalReforms has decided to review thejudges' appointment procedure under18th amendment in the light ofSupreme Court's interim order.

The committee affirmed its com-mitment to preserve and protect theindependence of judiciary and rule

of law under the constitution.A meeting of Parliamentary

Committee on ConstitutionalReforms was held here at ParliamentHouse under the chairmanship ofSenator Mian Raza Rabbani, whichreviewed and examined in detail theorder passed by the Supreme Courtof Pakistan on October 21.

The committee also finalised theline of action for future.

The meeting was attended bySenator Ishaq Dar, Babar Awan,Afrasyab Khattak, ProfessorKhursheed, Senator Abdul Malik,Haji Adeel, Lashkar Raisani, IqbalMuhammad Ali, Aftab Ahmad Khan

See # 2 Page 11

NA body sets line of actionJudges' appointment procedure

ISLAMABAD: Rana Sanaullah,provincial minister for law said themeeting between Chaudry Shujaat andNawaz Sharif would be possible ifChaudhry brothers come to NawazSharif then their apology could beaccepted, as Chaudhry Shujaat neverspoke against PML-N leader.

Talking to this news agency hereMonday, Rana Sanaullah said thatPML-N is real essence of MuslimLeague.

He said that TransparencyInternational report proved that presentgovernment is making records in cor-ruption. He said that Rs300 billionhave been corrupted during one yearand now PPP is taking support ofPML-Q due to fear of trial.

He said that Babar Awan is virus ofcorruption and he is trying to spread

the corruption in Punjab.He said that "Sasti Roti scheme" has

been closed down temporarily due tofloods.

He said that PPP's ministers' allega-tions of expending Rs70 billion onSasti Roti scheme are baseless.

Answering to a question he repliedthat, Imran Khan is talking about sell-ing of Nawaz Sharif's property andRaiwind State, but in fact he himselfpurchased plots from Zia-ul Haq andNawaz Sharif.

He said that Shaukat Khanum hospi-tal has been constructed on NawazSharif's land.

He said that Imran Khan is not sin-cere with his own party, so that's whyall the senior members who joined hisparty left it after passing some time. -Online

Shujaat-Shariftalks seen near

LONDON: Federal Interior MinisterRehman Malik upon arrival in UK hada telephonic communication withMQM leader Altaf Hussain and dis-cusses with him the overall conditon ofthe country especially the currentaffairs of Karachi.

Interior Minister Rehman Malik,while talking to MQM leader AltafHussain on the phone, discussed vari-ous issues of the country and especial-ly the situation in Karachi was dis-cussed in detail.

As per media reports, Malik con-veyed goodwill message to AltafHussain from the president Asif AliZardari and the Prime Minister YousufRaza Gillani.

While talking to Rehman Malik onthe phone, MQM leader Altaf Hussain

appreciated the efforts done by his gov-ernment to maintain the security situa-tion of Karachi and paying a visit to theaffected areas.

MQM leader also mentioned thataffectees are still waiting for a concretestep taken towards providing securityto the residents of Sher Shah Marketand the threats which are also beinggiven to the shop keepers to keep theirbusinesses closed.

Rehman Malik informed AltafHussain that he has already directedthe law enforcement agencies tolook into the matter and resolve theissue.

Rehman Malik intends to have adetailed meeting with the MQMleader and discuss all the issues indetail. -Online

Malik briefs Altafover Khi situation

Apology acceptable if they come to us: Rana

WB, ADB, IMF delegations meet Ashraf

Interior Minister arrives in UK, phones MQM chief