International

Asma Jehangir Likely to Govern Punjab

‘West to back PPP govt after Taseer-tragedy’ See on Page 12

England set Aussie Ashes on fire, make history See on Page 10

*Crude Oil (brent)$/bbl 94.20

*Crude Oil (WTI)$/bbl 89.01

*Cotton $/lb 141.10

*Gold $/ozs 1,368.00

*Silver $/ozs 28.83

Malaysian Palm $ 1,224

GOLD (NCEL) PKR 37,502

KHI Cotton 40Kg PKR 10,503

Yearly(Jul, 2010 up to 6-Jan-2011)

Monthly(Dec, 2010 up to-6-Jan-2011)

Daily (6-Jan-2011)

Total Portfolio Invest (31 Dec-2010)

158.67

-36.72

-22.15

2900

3.69

4.28

0.06

-6.77

-0.26

-0.96

-0.05

SCRA(U.S $ in million)

Portfolio Investment

FIPI (7-Jan-2011)

Local Companies (7-Jan-2011)

Banks / DFI (7-Jan-2011)

Mutual Funds (7-Jan-2011)

NBFC (7-Jan-2011)

Local Investors (7-Jan-2011)

Other Organization (7-Jan-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (1-Jan-11)

Inflation CPI% (Jul 10-Nov 10)

Exports (Jul 10-Nov 10)

Imports (Jul 10-Nov 10)

Trade Balance (Jul 10-Nov 10)

Current A/C (Jul 10- Nov 10)

Remittances (Jul 10 - Nov 10)

Foreign Invest (Jul 10-Nov 10)

Revenue (Jul 10-Nov 10)

Foreign Debt (Sep 10)

Domestic Debt (Nov 10)

Repatriated Profit (Jul- Nov 10)

LSM Growth (Oct 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.20bn

14.44%

$8.88bn

$15.37bn

$(6.49)bn

$(504)mn

$4.43bn

$746mn

Rs 495bn

$58.41bn

Rs 5348.6bn

$287.9mn

-2.81%

4.10%

$1,051

171.48mn

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

23.56

2.00

1.70

11.09

PKR/Shares

111.36

201.81

42.83

36.41

37.98

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)

29-Dec-2010

29-Dec-2010

29-Dec-2010

29-Nov-2010

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

07-Jan-2011

13.20%

13.41%

13.73%

14.00%

13.27%

13.47%

13.65%

14.01%

14.15%

14.29 %

14.31 %

14.35 %

14.60 %

14.78 %

14.98 %

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.40 85.40

Canadian $ 85.20 86.20

Danish Krone 15.00 15.10

Euro 111.30 113.50

Hong Kong $ 10.50 10.60

Japanese Yen 1.015 1.041

Saudi Riyal 22.77 22.93

Singapore $ 65.50 66.50

Swedish Korona 12.00 12.70

Swiss Franc 86.60 86.80

U.A.E Dirham 23.07 23.48

UK Pound 132.20 134.00

US $ 85.75 86.00

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 85.11 85.31

Canadian $ 85.96 86.16

Danish Krone 14.96 14.99

Euro 111.44 111.7

Hong Kong $ 11.02 11.05

Japanese Yen 1.028 1.031

Saudi Riyal 22.85 22.91

Singapore $ 66.12 66.27

Swedish Korona 12.49 12.52

Swiss Franc 88.81 89.02

U.A.E Dirham 23.33 23.39

UK Pound 132.44 132.75

US $ 85.66 85.84

Inter-Bank Currency Rates

Subscribe now

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Global Indices

Expedite 26/11 trial,Singh tells Pakistan

See on Page 12

NEW DELHI: Indian foreignminister SM Krishna Fridaysaid that Pakistan has agreed toresume exporting onions toIndia.

Earlier in the day, talking to apress conference in New Delhi,Krishna, “We have initiatedtalks and before not too long weare hopeful we will find a solu-tion to this, easing pressurewithin our country for onions."

Indian authorities have alsorequested Pakistan governmentto allow export of onions inbulk through rail and shiproutes, sources said.

Authorities banned onionexports after India stoppedexports of cotton, hittingPakistan. The ban on the exportof the commodity via land route

was enforced on Thursday after300 India-bound trucks loadedwith about 3,000 tonnes of thecommodity had reached theWagah border near Amritsar.

Earlier, Indian CommerceSecretary Rahul Khullar hadsaid that a contract has beenentered into for Pakistani onionsupply at Mundra port atGujarat.

However, if the supplies haveto be diverted from Wagah bor-der for arrival through shiproutes, it would take at least fewmore days to reach India.

An official spokesperson saidin New Delhi that the govern-ment is trying to resolve theissue with Pakistan."Government is working on

See # 5 Page 11

Onions may restartwheeling to India

India upbeat on bringing Pakistan around Backpedalingon fuel pricerise a mistake,

says ClintonWASHINGTON: US has saidit was a ''mistake'' for Pakistanto reverse the controversialfuel price hike as it would hitthe country's efforts to bolsterits ailing economy.

Making it clear thatWashington wants Islamabadto continue taking tough meas-ures to revive economy,Clinton said, "We have made itclear...that we think it is a mis-take to reverse the progressthat was being made to providea stronger economic base forPakistan".

Her strong comments cameas IMF in a sharp rebuke toIslamabad asked it to cut itsenergy subsidies saying theywere killing its economy.

“We have made it known to See # 6 Page 11

Gilani,Zardaritalk for

90 minutesKARACHI: Earlier on Friday

President Asif Ali Zardari and

Prime Minister Syed Yousaf

Raza Gilani agreed to accept all

legitimate demands of MQM to

ensure it returns to treasury

benches in the Parliament.

Prime Minister Syed Yousuf

Raza Gilani called on President

Asif Ali Zardari here at the

Bilawal House.

The current political situation

was discussed during the meet-

ing that lasted for 90 minutes.

The President appreciated the

efforts of the government and

See # 8 Page 11

ISLAMABAD: Minister forIndustries and Production MirHazar Khan Bijarani Fridayinformed the NationalAssembly that a plan is afoot toset up departmental stores inall major cities of the countryto provide maximum facilitiesto the masses.

To another question, he saidthe draft of new industrial pol-icy has been prepared and put

on the website of the ministryin order to seek more inputfrom all the stakeholders.

He said the new industrialpolicy would be announced innext two to three months.

Mir Hazar said an exportinvestment support fund worthRs40 billion was set up to pro-mote industrialisation, value-addition, and

See # 2 Page 11

Industry to getnew policy soon

Plan afoot to set up departmental stores, NA told

Imported sugar being supplied to USC

ISLAMABAD: Minister forTextile Industry Rana MFarooq Saeed Khan Fridaytold the National Assemblythat Textile Industry(Development andPromotion) Act is beingframed to stop mills or otherparties from hoarding cottonand yarn.

Replying to a question, hesaid that currently the min-istry has no legal instrumentto discourage such hoarding.

He expressed the hope theact would be finalised in twomonths which would addresshoarding issue.

He said at present, theprovincial governments areplaying a significant role inchecking the hoarding and

speculation in cotton & yarnmarkets.

To a supplementary ques-tion, he said the country's tex-tile export has witnessed 20per cent growth last year.

Minister for MinoritiesAffairs Shahbaz Bhattiinformed the House that anamount of Rs81,823,489 wasspent on the welfare of theminorities across the countryduring 2009-10.

He said a special non-lapsable fund is operative inthe ministry for the welfareand uplift of the minorities.The fund is utilised for acqui-sition and improvement ofburial places and repair/reno-vation/extension of

See # 7 Page 11

Law to halt cotton,yarn hoarding afoot

Textile exports jumped 20pc last year

Ultimatumyet hangsover govthead: ‘N’

LAHORE: According to mediareports Central InformationSecretary of Pakistan MuslimLeague-N, Ahsan Iqbal Fridaysaid that even after MQM'sreturn to treasury benches theultimatum issued by his party tothe government persists in allrespects.

Talking to a private newschannel, Ahsan Iqbal said thisdevelopment proved whatNawaz Sharif had said earlier.

See # 3 Page 11

Staff Reporter

KARACHI: After intensepolitical activities over the pastfew days and Prime MinisterSyed Yousuf Raza Gilani's visitto Nine Zero (MQM's head-quarter) in Karachi, MQM onFriday finally agreed to sit onthe treasury benches in theParliament.By doing this MQM has givenGilani’s non-majority govern-ment critically needed support.

However, MQM said, for thetime being, it's not going torejoin the Federal Cabinet.

This was announced byprovincial minister and mem-ber of the Rabita CommitteeRaza Haroon at a joint newsconference with the PrimeMinister at the end of his (PM)first ever visit to Nine Zero.

Gilani went to Nine Zero inAzizabad accompanied bySindh Governor Dr IshratulEbad, Chief Minister Syed

Qaim Ali Shah, and InteriorMinister Rehman Malik in theafternoon and talked withRabita Committee membersand Altaf Hussain in Londonover the telephone at length.

Gilani said they have agreedto work collectively to take thecountry out of crises. He saidhe has requested Altaf Hussainto tell his party to rejoin thecoalition for the sake of coun-try and democracy.

He said the MQM got

annoyed over increase in POL

prices which have been

reversed after his meeting with

leaders of the parliamentary

parties on Thursday and also

MQM was present there. He

said as far as MQM's reserva-

tions on RGST are concerned,

he has offered Altaf Hussain a

briefing by his economic team

and the decision has been

deferred until consensus.

The Prime Minister said

while in Nine Zero, he spoke to

Altaf Hussain over the

See # 1 Page 11

Gilani backin business

MQM returns to govt, but not to Federal Cabinet

‘N’ ultimatum to be examined at party level: PM

WASHINGTON: In a rebuketo Pakistan, the IMF has askedit to cut its energy subsidiessaying they were crippling itseconomy, just hours afterbeleaguered Prime MinisterYousuf Raza Gilani bowing topolitical pressure reversed thecontroversial fuel price hike.

Terming the energy subsi-dies as "inefficient and untar-geted," IMF spokeswomanCaroline Atkinson said thesesubsidies were consuming alarge part of the country'sbudget.

Atkinson said bulk of theenergy subsidies were beingcornered by people of higherincome group and large com-

panies and Pakistan govern-ment should make efforts thatit's spending on energy subsi-dies should go towards thesocial sector, health, educa-tion and dealing with the afterimpact of the floods.

The lender of the last resortin 2008 rescued Pakistan frombankruptcy and has extendedan $11.3 billion stand-byarrangement.

"Just to clarify, the action onenergy subsidies, petroleumprices, was not a part of theIMF plan. However, energysubsidies consume a large partof the budget," Atkinson saidat a news briefing.

She said the IMF arrange-

ment with Pakistan was due tocome to an end at the end ofDecember but was extendedfor nine months so it now willexpire at the end ofSeptember.

"That's to give space for usto continue to discuss with thegovernment the two furtherdisbursements that are allow-able under the program andthat continues to be the case.

What's most important forour arrangement is the abilityto discuss with the govern-ment, to agree with the gov-ernment, on the measures thatthey are going to put in placethe economy can support," she

See # 4 Page 11

Energy subsidiesanti-economy: IMF

Cut subsidies spend on uplift, Fund advises Pakistan

KARACHI: Prime Minister Syed Yousuf Raza Gilani addressing the mediaafter the meeting with MQM Rabita Committee at Nine Zero. -APP

RGST frozen until ice breaksKARACHI: Prime Minister Syed Yousuf Raza Gilani Friday saidhis government would defer a key tax reform in a move sure toanger the United States and the International Monetary Fund.

"We have deferred (the reformed general sales tax)," Gilanisaid in Karachi on Friday after a meeting with officials from theMuttahida Qaumi Movement (MQM), its major coalition partnerwhich just announced it would rejoin after defecting to the oppo-sition on Jan. 2 "We will not go forward until consensus isevolved," Gilani said. -Reuters

Karachi, Saturday, January 8, 2011, Safar-ul-Muzaffar 3, Price Rs12 Pages 12

INVESTORS’ GUIDE

WATCH OUT FOR JANUARY 2011 ISSUE

2 Friday, January 7, 2011

TV PROGRAMMES

SATURDAY

Time Programmes

7:00 News

8:00 News

9:05 Best of Subah

Savere Maya Kay Sath

11:00 News

12:00 News

13:10 Newsbeat (Rpt)

14:10 Awam Ki Awaz

(Rpt)

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

19:30 Taxi News

20:05 The Anchor

21:00 News

22:03 Faisla Aap Ka

23:00 News

23:03 Awam Ki Awaz

ISLAMABAD: Thereport of the StandingCommittee on bill to pro-vide for the establish-ment of the DefenceHousing AuthorityIslamabad was on Fridaypresented in the NationalAssembly.

Chairperson of theStanding Committee Dr.Azra Fazal Pechuho pre-sented the report of thecommittee on bill to pro-vide for the establish-ment of the DefenceHousing AuthorityIslamabad.-APP

Report on DHA,Isb goes to NA

I S L A M A B A D :Residents of the twincities are in great trou-ble due to the closure ofCNG stations for twodays and in this regardstudents and employee'shave to wait severalhours to reach their dis-tinction due to the nonavailability of publictransport.

Private vehicles own-ers were also in troubledue to the shortage ofCNG gas and a com-muter Rahat Kazmi said

that two-day closure ofgas was intolerable.

Another commuterAqeel Anjum said thatdue to halt in regularsupply of gas, publictransport is not avail-able on routes and taxidrivers getting benefitof it and charging frompoor citizens.

Citizens demanded ofthe concerned authori-ties to reschedule theclosure of CNG stationsplan so that peoplecould get relief.-APP

Closure ofCNG stations

creates problems

Staff Correspondent

ISLAMABAD: As partof its enforcement andregulatory function, theInsurance Division ofthe Securities andExchange Commissionof Pakistan (SECP)passed 3 orders, finingdefaulting insurancecompanies inDecember, mainly onthe grounds of non-compliance with thestatutory depositrequirements. Thedepartment also recov-ered the penaltyamounting toRs421,000.

It may be mentionedhere that in order to

ensure market surveil-lance, the InsuranceDivision is in theprocess of formulatingregulations on microinsurance and develop-ing its legal frameworkfor specialized microinsurance companies. Inthis regard a task forcehas been constitutedcomprising representa-tives from the SECP,SBP, IAP, PMN, NRSP,PMN, NGOs, microfi-nance banks and insur-ance companies. Thefirst meeting of the taskforce was held onNovember 23, followedby its sub-group meet-ing held in earlyDecember last.

SECP finesthree insurers

LAHORE: The LahoreChamber of Commerce andIndustry Friday appreciatedthe Federal government forwithdrawing increase in theprices of petroleum productsand termed it a bold step inthe larger interests of themasses.

In a statement issued here,LCCI President Shahzad AliMalik, Senior Vice PresidentSheikh Mohammad Arshadand Vice President SohailAzhar said that the with-drawal in prices of petrole-um products would not only

give some relief to the infla-tion-hit masses but it wouldalso benefit almost all sec-tors of the economy.Industry and the Agricultureboth would be the benefici-ary of this marvelous deci-sion as the increase hadcaused considerable jump intransportation costs ofindustrial products and samewas the case withAgriculture sector that isheavily dependent on diesel.

The LCCI office-bearers,however, urged the PrimeMinister to ensure imple-

mentation of his decisionregarding supply of gas tothe industry in Punjab.Despite clear cut instruc-tions of the Prime Ministerthat no discrimination wouldbe done with the industry inPunjab, the situation is stillthe same and the entireindustrial sector was suffer-ing unbearable losses andfast becoming uncompeti-tive even in the domesticmarket as the industry inother provinces is gettingregular supply of gas, theyadded.-PR

LCCI demands gasfor Punjab industry

Staff Reporter

KARACHI: JCR-VISCredit Rating CompanyLimited has upgrade theManagement Quality Ratingof ABL Asset ManagementCompany Limited(ABLAMC) to 'AM3+' (AM Three Plus) from 'AM3'(AM Three)

The rating action takesinto account improvementin systems and controls andperformance of the asset

management company sincelast review. Going forward,the bussiness plan of thecompany may facilitate it tofuther strengthen its marketposition. Outlook on the rat-ing has thus been revisedfrom "Stable' to 'Positive'.

ABL Amc is a whollyowned subsidiary of AlliedBank Limited and benefitsfrom the bank's strong fran-chise and widespread branchnetwork. After the launch oftwo new funds during 2010,

the AMC is now managingfour open end funds, includ-ing two money marketsfunds, and income funds anda stock fund. Performance ofthe two older funds wasstrong with both funds beingamong the top performingfunds in terms of returnd inFY10. Total AUMs of ABLAMC increased from Rs.7 bas at June 30, 2009 to Rs.8.7b as at June 30, 2010 andfurther to Rs.12b as atNovember 30, 2010.

JCR-VIS upgradesABL AMC rating

Special Correspondent

LAHORE: The Federationof Pakistan Chambers ofCommerce and Industry(FPCCI), Friday hailing thedecision of the PrimeMinister for immediatewithdrawal of recentincrease in petroleum prod-ucts prices demanded forth-with restoration of powerand gas supply to the indus-trial sector to save the econ-

omy from irreparable loss.President FPCCI,Senator

Ghulam Ali said although itwas a wise decision of thePrime Minister for reversingthe increase in prices ofpetroleum products through-out the country but unsched-uled gas and power loadshedding, without takingFPCCI into confidence, hadalready harmed the industryand it had now becomeimpossible to meet the

export targets by ensuringtimely despatch of consign-ments to their destinations.

He said power and gasload-shedding had alreadyaffected the industrial sectorbadly causing billion ofrupees loss to the privatesector. He said the worldover, in case of acute short-age of gas and power,always industrial sector wasgiven priority over domesticconsumers.

POL product prices

FPCCI hails fuelprice hike reversal

Staff Reporter

KARACHI: A team of theCompetition Commissionof Pakistan (CCP) Fridayconducted search andinspection of the offices ofthe Pakistan ShippingAgents Association (PSAA)in Karachi to impound doc-umentary proofs of theAssociation's allegedinvolvement in anti compet-itive decision making.

CCP action followedreports of active role alleged-ly being played by PSAA inrecommending/suggestingrates/tariffs to its memberundertakings in prima facieviolation of Section 4 of theCompetition Act, 2010.Documentary evidence pro-

duced before theCommission in the form ofletters and minutes of meet-ings prima facie raised suspi-cion as to the activities androle of PSAA with respect toship agency servicestariff/charges.

The Commission observedthat the rates/tariffs recom-mended by PSAA primafacie indicate/suggest to itsmember undertakings a tar-get range of minimum andmaximum prices they cancharge to their customers.Although a recommendedrange of charges is issued asguideline, however, it needsto be verified that how asso-ciation is operating in thematter and why even suchrecommendations are made

when free economic deci-sions are to be encouragedon part of its members.

The suspected price fixingthrough suggested/targetedrange is likely to distort com-petition as members tend toprice within this range, ratherthan independently arrivingat their prices.

CCP requested PSAA toforward copies of letters, cir-culars issued in last twoyears to the member under-taking to notify the rates ofvarious tariff/charges inrespect of ship agency serv-ices, to which PSAA did notprovide any satisfactoryinformation and providedonly recommended rates/tar-iff for September, 2008 andFebruary, 2010.

Anti-competitiveness practices

CPP team raidsPSAA office,seizes record

SATURDAY

Time Programmes

8:00 Chai Time (Rpt)

9:05 Smithsonian

Documentry

10:05 Dilkash Pakistan

10:30 Sara jahan(Rpt)

11:15 Karobari

Duniya(Rpt)

12:00 News

12:05 Siyasat Mana Hai

(Rpt)

13:00 AM News

13:05 Islamabad Say (Rpt)

14:00 News

15:00 News

15:05 Doosra Pehlu (Rpt)

16:00 News

16:05 Filmi Samaa(rpt)

16:30 Red Carpet (Rpt)

17:00 News

17:05 Aap Ka Paisa (Rpt)

17:30 Pakistan This Week

18:00 News

18:05 Sara jahan(Rpt)

18:30 Dilkash Pakistan

19:00 News

19:30 Tijarti Dunia

20:00 News

20:05 Kamyab

21:00 News

21:05 Teesri nazar

22:00 News

22:05 Agenda 360

23:05 Music Scene

23:30 Uff Tv

0:00 News

US to helpbuildhydel

projectsStaff Correspondent

ISLAMABAD: FrankRuggiero, Acting USSpecial Representative forAfghanistan and Pakistan,signed two agreements toprovide $66 million to fin-ish the Gomal Zam andSatpara dam projects.These dams, which willprovide over 35 megawattsof power to nearly 55,000households in SouthWaziristan and Skardu, areexamples of the UnitedStates Government's com-mitment to help meetPakistan's energy needs.

"Last year's devastatingfloods demonstrated theneed for flood controlinfrastructure" saidRuggiero. "These two mul-tipurpose dams will controlflood waters, provide elec-tricity, and store water forirrigation and householduse for downstream vil-lages." U.S. Agency forInternational Development(USAID) Mission DirectorAndrew Sisson, Water andPower DevelopmentAuthority Chairman ShakilDurrani, and Ministry ofWater and Power SecretaryJaved Iqbal also signed theagreement.

Meetingreviewsprogressof MoUs

with ChinaISLAMABAD: Ministerof State and ChairmanBoard ofI n v e s t m e n t , S a l e e mMandviwalla on Fridayheld a special meeting withCommercial Counselor ofChina to discuss the planfor pursuing 40Memorandum ofUnderstandings (MoUs)signed so far.

Mandviwalla alsoinformed the counselorabout the responsibilityassigned to him byPresident to produceresults out of MoUs signedbetween Pakistan andChina during the visits ofPresident of Pakistan toChina and Chinese PremierWen Jiabao's visit toPakistan.

He said both leaders areconcerned to mature theagreements on urgent basisand suggested that all theprivate and public organi-zations holding MoUs andagreements with Chinesecompanies would be calledfor a meeting to present theprogress on all accords.

It may be noted here thatBOI inked MoUs of morethan US$.10,300 millionwith Chinese companiesduring the Pak-ChinaBusiness Summit 2010.

A special committee,comprising BOI andChinese officials startedworking on accomplishingthese accords before thevisit of Chinese Presidentthis year.-APP

NIBBank

capitalon the up

KARACHI: In August2010, NIB Bank Limitedhad shown its intention toincrease its capital with aview to make the Bankstronger. To this end, themajority shareholder ofNIB Bank, BugisInvestments, a whollyowned subsidiary ofFullerton FinancialHoldings of Singapore,has injected its share ofthe proposed capitalincrease of Rs 6.4 billionas at 30th December2010, also confirmed bythe Bank’s auditors,KPMG Taseer, Hadi &Co.-PR

‘Govt tocompletetenure’

KARACHI: Advisor toChief Minister Sindh onInformation SharmilaFaruqui has said that theGovernment of PakistanPeoples Party has to facemany problems during thelast three years but it hasover come these problemsunder the guidance ofPresident Asif Ali Zardaribecause the Government isfollowing political recon-ciliation policy and it hasstrengthened the institu-tions and democracy isgoing on in the country.This she said while talkingto various delegations herein her office on Friday.

She said it was the resultof Pakistan Peoples Partyand other democraticforces' struggle that media,judiciary and parliamentwere fully independenttoday.

The Provincial Advisorsaid the present democrat-ic government was takingall possible measuresagainst extremists andmaking the country finan-cially strong in order toprovide maximum relief tothe people.-Online

ISLAMABAD: Acting US Envoy for Pakistan Frank J Ruggiero called on PML (N) Quaid Nawaz Sharif inIslamabad. Chief Minister Punjab Shahbaz Sharif, Opposition Leader in National Assembly Chaudhry

Nisar Ali Khan and Senator Ishaq Dar are also present.-Online

PESHAWAR: Activists of Aman Tehrik and workers of PPP light-up candles inremembrance of assassinated former Punjab Governor

Salman Taseer outside Railway Station.-APP

MUMBAI: The Indian rupeeretraced from three-week lowsbut ended weak on Friday as oilimporters' dollar demand, loss-es in local shares and globaldollar strength outweighed sup-port from dollar inflowstowards debt.

All eyes are now on the USnon-farm payroll data due at1330 GMT for directional cues.The partially convertible rupeeended at 45.38/39 per dollar,after touching 45.48 -- its weak-est since Dec. 20 -- and below itsThursday's close of 45.245/255.It moved in 45.3250-45.48 bandintraday.

Despite weak stocks, dollarsales from foreign institutionalinvestors (FIIs) were marginal.

"There has been some interestfrom FIIs into debt and ECB(external commercial borrow-ing)-related inflows which hasprevented the rupee from weak-ening sharply," said Rohan Naik,head of forex trading at StandardChartered Bank in Mumbai.

Foreign funds have boughtshares worth $201.88 million inthe first four trading sessions thisyear. The rupee had gained 4.1per cent in 2010 on record $29.3billion foreign fund inflows.

Stanchart's Naik expects therupee to maintain a weakeningbias next week and even breach45 on likely overall global dollarstrength. "The US dollar isexpected to continue to be on astrong footing. I think $1.2950 ineuro is a very crucial level," Naikadded.

One-month offshore non-deliv-erable forward contracts werequoted at 45.67, weaker than theonshore spot rate.

In the currency futures market,the most traded near-month dol-lar-rupee contracts on theNational Stock Exchange, MCX-SX and the United StockExchange were at 45.55, 45.555and 45.5575, with the total tradedvolume on the three exchanges ata moderate $6 billion. -Reuters

Indian rupee off 3-wklows; US data eyed

3Saturday, January 8, 2011

Currencies Rate

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 07/01/2011

A USD GBP CAD EUR JPY

O/N 0.24125 0.55813 0.92667 0.34125 SN 0.09375

1WK 0.25438 0.57063 0.99667 0.49000 0.10288

2WK 0.25656 0.57438 1.04083 0.55125 0.10938

1MO 0.26125 0.58875 1.09667 0.69250 0.12063

2MO 0.28250 0.64625 1.15083 0.80625 0.15000

3MO 0.30313 0.76063 1.23833 0.93188 0.18725

4MO 0.34625 0.84250 1.30833 0.99688 0.24313

5MO 0.40263 0.94875 1.37167 1.08250 0.30000

6MO 0.45731 1.05438 1.44667 1.17563 0.34750

7MO 0.51313 1.13163 1.51333 1.22563 0.39750

8MO 0.56813 1.21563 1.58750 1.28188 0.44188

9MO 0.61906 1.29750 1.65667 1.32938 0.48750

10MO 0.67094 1.37688 1.73417 1.37938 0.51438

11MO 0.72594 1.44563 1.82000 1.42313 0.54000

12MO 0.78550 1.51250 1.90333 1.46500 0.56750

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

U.S.A. 85.90 85.70 85.51

U.K. 132.75 132.44 132.13

EURO 111.70 111.44 111.19

CANADA 86.16 85.96 85.74

SWITZERLAND 89.02 88.81 88.57

AUSTRALIA 85.31 85.11 84.89

SWEDEN 12.52 12.49 12.46

JAPAN 1.03 1.03 1.03

NORWAY 14.41 14.37 14.37

SINGAPORE 66.27 66.12 65.94

DENMARK 14.99 14.96 14.92

SAUDI ARABIA 22.91 22.85 22.79

HONG KONG 11.05 11.02 10.99

CHINA 12.96 12.93 12.90

KUWAIT 304.42 303.71 302.91

MALAYSIA 27.99 27.93 27.86

NEW ZEALAND 65.14 64.99 64.82

QATAR 23.59 23.54 23.48

U.A.E. 23.39 23.33 23.27

KR WON 0.08 0.08 0.08

THAILAND 2.84 2.83 2.82

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

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

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

ABLN 12.40 12.90 12.50 13.00 12.75 13.25 13.20 13.45 13.45 13.70 13.55 14.05 13.60 14.15 13.70 14.20

JSBL 12.60 13.10 12.75 13.25 12.85 13.35 13.25 13.50 13.45 13.70 13.50 14.00 13.70 14.20 13.80 14.30

ASPK 12.50 13.00 12.60 13.10 12.75 13.25 13.20 13.45 13.40 13.65 13.50 14.00 13.65 14.15 13.75 14.25

CIPK 12.60 13.10 12.70 13.20 12.75 13.25 13.25 13.50 13.45 13.70 13.55 14.05 13.70 14.20 13.90 14.40

DBPK 12.50 13.00 12.60 13.10 12.70 13.20 13.00 13.25 13.15 13.40 13.30 13.80 13.50 14.00 13.60 14.10

FBPK 12.45 12.95 12.65 13.15 12.75 13.25 13.25 13.50 13.45 13.70 13.55 14.05 13.75 14.25 13.90 14.40

FLAH 12.65 13.15 12.70 13.20 12.80 13.30 13.20 13.45 13.40 13.65 13.50 14.00 13.65 14.15 13.75 14.25

HBPK 12.50 13.00 12.70 13.20 12.80 13.30 13.20 13.45 13.40 13.65 13.50 14.00 13.65 14.15 13.75 14.25

HKBP 12.60 13.10 12.70 13.20 12.80 13.30 13.25 13.50 13.40 13.65 13.50 14.00 13.60 14.10 13.70 14.20

NIPK 12.50 13.00 12.75 13.25 13.20 13.70 13.50 13.75 13.60 13.85 13.70 14.20 13.75 14.25 13.80 14.30

HMBP 12.60 13.10 12.75 13.25 12.85 13.35 13.25 13.50 13.35 13.60 13.50 14.00 13.60 14.10 13.70 14.20

SAMB 12.50 13.00 12.70 13.20 12.85 13.35 13.30 13.55 13.50 13.75 13.50 14.00 13.65 14.15 13.75 14.25

MCBK 12.40 12.90 12.50 13.00 12.60 13.10 13.15 13.40 13.30 13.55 13.40 13.90 13.50 14.00 13.75 14.25

NBPK 12.40 12.90 12.60 13.10 12.70 13.20 13.20 13.45 13.30 13.55 13.50 14.00 13.65 14.15 13.75 14.25

SCPK 12.45 12.95 12.60 13.10 12.70 13.20 13.10 13.35 13.25 13.50 13.45 13.95 13.50 14.00 13.70 14.20

UBPL 12.40 12.90 12.40 12.90 12.65 13.15 13.20 13.45 13.40 13.65 13.50 14.00 13.70 14.20 13.70 14.20

AVE 12.50 13.00 12.66 13.16 12.77 13.27 13.22 13.47 13.40 13.65 13.51 14.01 13.65 14.15 13.74 14.24

London Inter Bank Offered Rates (LIBOR)

Karachi Inter Bank Offered Rates (KIBOR)

Name Bid Ask High Low

EUR-USD 1.2986 1.2985 1.3019 1.2936

USD-CHF 0.9643 0.9646 0.9689 0.9611

GBP-USD 1.5530 1.5534 1.5531 1.5407

USD-CAD 0.9907 0.9911 1.0001 0.9900

AUD-USD 0.9986 0.9989 0.9992 0.9911

EUR-JPY 107.9100 107.9500 108.5300 107.8000

EUR-GBP 0.8361 0.8362 0.8427 0.8357

EUR-CHF 1.2522 1.2527 125.6200 1.2485

GBP-JPY 129.2000 129.2700 129.2700 128.5600

CHF-JPY 86.2100 86.2900 86.8200 86.0700

CAD-CHF 0.9724 0.9731 0.9763 0.9627

Gold 1372.3500 1372.9000 1374.1500 1353.4500

Silver 29.1400 29.2200 29.1600 28.3400

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)07/01/2011

As per 22.00 PST

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.75 12.70 12.70 12.80 12.90 12.96 12.80

8-15dys 12.80 12.80 12.85 12.80 12.90 12.80 12.83

16-30dys 12.85 12.85 12.90 12.85 12.95 12.90 12.88

31-60dys 13.00 12.95 13.13 13.10 13.05 13.08 13.05

61-90dys 13.20 13.23 13.25 13.26 13.23 13.24 13.24

91-120dys 13.30 13.35 13.37 13.40 13.25 13.33 13.33

121-180dys 13.33 13.50 13.45 13.50 13.30 13.41 13.42

181-270dys 13.50 13.54 13.55 13.70 13.45 13.55 13.55

271-365dys 13.68 13.72 13.72 13.80 13.65 13.71 13.71

2-- years 13.95 14.00 14.00 14.00 13.95 14.00 13.98

3-- years 14.18 14.23 14.23 14.23 14.25 14.28 14.23

4-- years 14.18 14.27 14.24 14.24 14.22 14.25 14.23

5-- years 14.20 14.23 14.25 14.25 14.23 14.28 14.24

6-- years 14.20 14.35 14.32 14.28 14.30 14.33 14.30

7-- years 14.22 14.37 14.36 14.30 14.35 14.38 14.33

8-- years 14.22 14.15 14.18 14.30 14.15 14.25 14.21

9-- years 14.22 14.15 14.14 14.15 14.20 14.19 14.18

10--years 14.25 14.23 14.30 14.25 14.25 14.29 14.26

15--years 14.55 14.60 14.55 14.65 14.55 14.65 14.59

20--years 14.70 14.75 14.75 14.90 14.75 14.78 14.77

30--years 14.80 14.85 15.00 15.10 15.00 14.98 14.96

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for January 07, 2011

Source Events Actual Forecast Previous

CHF Unemployment Rate 3.6% 3.6% 3.6%

EUR German Retail Sales m/m -2.4% 0.6% 0.1%

EUR German Trade Balance 11.8B 14.5B 14.2B

EUR Unemployment Rate 10.1% 10.1% 10.1%

EUR Final GDP q/q 0.3% 0.4% 0.4%

EUR German Industrial Production m/m -0.7% -0.1% 3.0%

CAD Employment Change 22.0K 19.1K 15.2K

CAD Unemployment Rate 7.6% 7.7% 7.6%

USD Non-Farm Employment Change 103K 159K 71K

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of England January 13, 2011 March 5, 2009 0.50%

European Central Bank January 13, 2011 May 7, 2009 1%

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

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

Bank of Canada n/a September 8, 2010 1%

Federal Reserve n/a December 16, 2008 0.25%

Bank of Japan n/a December 19, 2008 0.10%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, January 07,2011 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

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

1 week 0.70 -0.28 0.65 0.04 0.62 0.86 -0.39 -0.79

1 month 0.25 0.16 0.21 0.18 0.56 0.64 -0.62 -0.26

3 months 0.06 0.81 0.84 0.85 0.79 0.43 0.18 -0.07

6 months 0.76 0.32 0.91 0.69 0.82 0.79 -0.65 -0.70

1 year 0.58 0.33 0.73 0.62 0.77 0.51 -0.31 -0.56

2 years 0.27 0.52 0.48 0.73 0.81 0.31 -0.16 -0.47

Currencies CorrelationEUR/JPY

NEW YORK: The dollar rose to itshighest in nearly four months againstthe euro on Friday as a drop in the USunemployment rate helped offset ini-tial disappointment over the weaker-than-expected December payrollsreport.

Sentiment on the dollar remainedpositive despite a smaller-than-fore-cast number of jobs created, and ana-lysts expect gains to continue the nextfew weeks. Overall, the data reflecteda US economy that was still on a sta-ble growth track.

The greenback initially gave upgains against the euro immediatelyfollowing the jobs data but recoveredto post fresh peaks of nearly fourmonths. Traders said a large order tosell euros against sterling right after

the data pressured the euro/dollar pairas well.

Data onFriday showedUS non-farmp a y r o l l si n c r e a s e d103,000, belowe c o n o m i s t s 'expecta t ionsfor gains of175,000 jobs, but unemploymentdipped to 9.4 per cent, its lowest inmore than 1-1/2 years.

"You can't ignore the fact that,regardless of a disappointing payrollsoutcome, US growth is still lookingbetter than Europe and the euro sover-eign stress is still there," said RichardFranulovich, senior currency strate-

gist, at Westpac in New York.The dollar was little changed against

a basket of major currencies to80.769, rising as high as 81.087, itsstrongest level since early December.

The index has gained over 2 per centthis week, benefiting from a slew ofupbeat US data including a report thatshowed a record number of privatesector jobs were created in December.

In the run-up to Friday's employ-

ment data, some analysts were expect-ing job gains as high as 500,000. Theactual data, however, promptedinvestors to cover their short positionson the euro that were built in anticipa-tion of a huge jobs number.

"The headline miss is pretty bad, butthe drop in the unemployment rate isthe one reason why the dollar has notcollapsed completely," said BrianDolan, chief currency strategist atForex.com in Bedminster, NewJersey.

"Overall, a very disappointing num-ber that reinforces the idea that we'rein for a long, slow jobless recovery.The euro's been in $1.30-$1.35 rangefor a while, and this number

is not enough to break us out ofthat." -Reuters

Dollar up vs euro asUS unemployment dips

SHANGHAI: The yuan fin-ished down against the dollaron Friday after the People'sBank of China set a weakermid-point, in the wake of ajump in the US dollar index inglobal markets.

But the mere 19-pip fall inthe PBOC's mid-point, or thelevel from which the yuan mayrise or fall 0.5 per cent eachday, lagged far behind a jumpof 0.8 per cent in the dollarindex on Thursday. Dealerssaid that may reflect the centralbank's intention to keep theyuan in a narrow range.

Dealers said the domesticmarket would await fresh leadsfor direction as the Chinesecurrency has already jumpedaround 3.5 per cent since it wasdepegged in June.

The yuan may have morepotential to appreciate as Chinacontinues to face political pres-sure and ahead of ChinesePresident Hu Jintao's visit tothe United States from Jan. 18.

But investors have scaledback forecasts for sharp yuanappreciation in the near termdue to the PBOC's unclearposition.

Spot yuan closed at 6.6280versus the dollar, down fromThursday's close of 6.6265. Ithas risen 2.99 per cent since itsmid-June depegging.

Before trade began, theChinese central bank fixed theyuan's mid-point versus thedollar at 6.6341, weaker thanThursday's 6.6322.

Dealers said the yuan'sappreciation over the course ofthe year was inevitable asChina wrestles with domesticconcerns such as rising infla-tion and asset bubbles.

Benchmark one-year non-deliverable dollar/yuan forwardswere bid at 6.4610, down slight-ly from Thursday's close of6.4670. Their implied yuanappreciation in a year's time roseslightly to 2.68 per cent from2.58 per cent. -Reuters

Yuan declines, awaitsfresh leads for direction

WELLINGTON/SYDNEY: The Australianand New Zealand currencies lost ground againsta broadly firmer greenback on Friday, butadvanced on the euro as worries about the euro-zone's high levels of debt returned to haunt thesingle currency.

The Aussie fell as low as $0.9919, reaching lev-els not seen since Dec. 21, and taking this week'slosses to nearly 3 per cent. It last traded at $0.9932,down from $0.9944 late in New York.

Widespread floods in the state of Queensland,which produces about two thirds of the world'scoking coal, have served as an excuse forinvestors to take profit on a 6 per cent rally inthe Aussie to a 28-year high in December.

"We crossed a new territory for the US dollar,"said Matthew Johnson, strategist at UBS. "Forthe first time in three years, strong US data willstart meaning a strong US dollar ... The marketmechanism has changed," he said.

This means the Aussie could lose more groundagainst the dollar, should US payrolls show a bigincrease. UBS's Johnson said the Aussie could dropby as much as a cent or more to around $0.9800.The Aussie was on the brink of testing support at

$0.9918, a break of that could see a deeper retrace-ment to the Dec. 16 trough around $0.9830.

The Aussie, however, rose against the euro,which came under broad pressure on renewedworries about the euro-zone debt crisis ahead ofa flurry of supply from peripheral euro-zonemembers next week.

The euro last traded at A$1.3070, having fall-en to a near one-week low of A$1.3040overnight.

The markets will be closely watching a raft ofAustralian data next week including retail salesand employment.

The NZ dollar clawed off the session low at$0.7554 to $0.7577 in late trade. It too has shednearly 3 per cent this week as traders took prof-it from recent hefty gains.

Support for the kiwi was still seen around$0.7540, the low on Dec 29, then $0.7523, a61.8 per cent retracement level while resistancesat around $0.7630.

The Aussie slipped to NZ$1.3103, having ear-lier fallen to as low as NZ$1.3070 as real moneyand short-term speculative accounts bought thekiwi against the Aussie. -Reuters

Aussie struggles againstUSD, but gains on euro

SEOUL: The Philippine pesoand the Indian rupee fell againstthe dollar on Friday, leadingAsian currencies lower, as cau-tion ahead of key US job dataspurred dollar short covering.

The data is unlikely to boostAsian currencies much,although they are expected tostay firm this year on strongereconomic fundamentals in theregion and abundant liquidity,analysts and dealer said.

"A figure in line with orabove forecasts will lift thedollar and make investors

more reluctant to buy Asiancurrencies," said Jeong My-young, a currency strategist inSeoul.

"If the figure disappointsmarkets, that will causeinvestors to shun riskier assets,prompting further dollar-shortcoverings," she added.

The peso opened at 44.00 perdollar and weakened to as softas 44.12 with market spookedby further dollar short coveringinterest. The peso is seenweakening to as soft as 44.20unless the central bank steps

into the market, dealers said. But it found a strong support

line at 44.30 per dollar. Bucking the softer regional

tone, the Taiwan dollar roseover 2 per cent against the USdollar. "Foreign funds keepbuying dollar, they expect pos-itive news from the US non-farm payrolls," said one traderat a local bank.

The Taiwan dollar rose to asfirm as T$29.220 on early

trading, compared with itsprevious close of T$30.101. -Reuters

Asian currencies

Peso down 0.4pc ondollar short covering

LONDON: Sterling extendedgains against the euro on Friday,helped by fund selling of the sin-gle currency due to a renewedrise in concern over euro-zonesovereign debt risks.

It also recovered groundagainst the dollar after US non-farm payrolls disappointed onbullish market expectations, buttraders said the knee-jerk reac-tion to the data had not changed

the broader trend.The euro fell 0.6 per cent to

83.54 pence, closing in on a one-month low around 83.50 pence.Traders said the technical out-look remained negative after thisweek's break and close below the200-day moving average, seen asresistance at 84.81 pence onFriday.

"Sterling continues to have anupper hand against the euro,"one London-based trader said.

On the week, the euro was setto fall nearly 2.1 per cent againststerling, its biggest weekly dropsince mid-November 2010.

Order flow data fromThomson Reuters Matching sug-

gested more downside bias forthe pair even after a sharp sell-off over the last three days whichhas delivered some of the high-est daily trading activity formonths.

Trade-weighted sterlingmatched a two-week high of80.8. "Nothing really changedafter payrolls," said Geoffrey Yu,currency strategist at UBS inLondon. "Even though the

unemployment rate fell, the par-ticipation rate is down. The dol-lar should remain moderately bidbut it depends on what happensto the euro."

Sterling rose 0.4 per cent to$1.5535 driven by fund demand.

Trendline resistance stood ataround $1.5660, said CMCMarkets analyst MichaelHewson. On the downside, asustained move below $1.5400should open up the $1.5265 area,which remained the key longer-term target as this level was the50 per cent retracement of thepound's rebound from its low inMay 2010 to highs in November,he said. -Reuters

Sterling extends gainsvs euro, up against USD

Swiss franc

gains vs euroZURICH: The Swiss franctracked the dollar higheragainst the euro on Fridayahead of US jobs data, which isexpected to show a strengthen-ing US economic recoveryeven as debt concerns continueto trouble euro-zone investors.

After losing a significantamount of ground againstmajor currencies on Thursday,the euro drifted still loweragainst major currencies in theearly part of Friday's session,all but giving up its gains fromearlier in the week.

A sell-off in peripheral euro-zone government bonds before aflurry of supply next week and anEU proposal that could forcethose who lend to banks to bearbig losses should they failweighed on the single currency."After strengthening at thebeginning of the week, we thinkthe euro will continue to declinein an environment of euro-zoneweakness, with demand for theSwiss franc remaining high as asafe haven," said Sarasin curren-cy strategist Ursina Kubli.

"The dollar will also benefitfrom euro fears and could movehigher alongside the Swiss franc,"Kubli said. The franc was 0.1 percent firmer against the euro com-pared to the New York close, trad-ing at 1.2541 francs per euro at0737 GMT. The franc was littlechanged against the dollar at0.965 francs per dollar. -Reuters

Eyes on US payrolls; unlikely to boost Asia FX

Drop in jobless rate saves the day for the dollar

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.

Thewait &

see policyOver the last few days political scenario has

changed fast plunging some into despair andothers into new spirits. However, one thingseems most remote toppling of Gilani regime.The prime minister himself is going from oneleader to another and came down all the way toKarachi to convince MQM to continue its sup-port from the present regime.

While many of the opponents includingPML-N are now terming MQM exit and reen-try a much anticipated move, the US adminis-tration has expressed its dislike on withdrawalof increase in POL prices. Many of thePakistani political pundits are of the view thatwithdrawal of increase is important at least forthe time being to save the country from anybig unrest. The country is already experienc-ing intermittent closure of business activitieson the strike calls of religious parties.

Some of the experts say a few politicians aretrying to push the others to wall, which couldhave serious repercussions on the country.Recent war of words among PPP, MQM andPML-N has left a bad taste in the moth as gen-eral public never expected that politicalactivists can go to such an extent.

However, masses already the victim of erod-ing purchasing power fear that the confronta-tion could only plunge the economy deeperinto the problems. Pakistan can't afford anydisruption in economic activities. Its relation-ship with the IMF seems a little strangulatedon the issue of enhancing revenue collection.

At this juncture Pakistan has to prove thatkey economic indicators are improving.Foreign exchange is still flowing as remit-tances and providing much needed support toimprove current account position registeringsurplus for the last three months.

Lately, Pakistan's foreign exchange reserveshave touched US$17.2 billion level mainlybecause of substantial increase is remittancesand portfolio funds. Some of the punters saythat despite many odds Pakistan's stock marketis likely to continue to get more funds.

However, no ease in electricity and gas loadshedding seems possible in the near-term oruntil inter corporate debt issue is resolved.There are growing apprehensions that this yearPakistan may not succeed in achieving US$22billion export target. However, the real con-cern is increasing oil import bill, which mayprove the biggest spoiler.

Over the next few months dependence onthermal power plants is likely to remain highand motor gasoline and diesel consumption tofar exceed the expected consumption. Increasein quantum of POL imports along with risingtrend in crude oil prices is expected to push oilimport bill to new highs this fiscal. The silverlining is increase in unit price realization oftextiles and clothing, thanks to hike in cottonprices globally.

4Saturday, January 8, 2011

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: 92-21-35311893-6 Fax: 92-21-35388428

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 147

Anti-US Shi'ite cleric Moqtadaal-Sadr's security detail has adisciplined quality far removed

from his old Mehdi Army militia, hint-ing at his evolution toward the main-stream that could help stabilize Iraq.

Sadr, who led two uprisings againstthe US military and demands its with-drawal, seems eager to shed the imageof a firebrand and appear a statesmanas his movement assumes a new, pow-erful role in Baghdad's coalition gov-ernment, analysts say.

Bearded men in black shirts and greysuits with pistols strapped to theirbelts, and others dressed like profes-sional mercenaries, have knitted a tightcircle around him since his returnThursday after years of voluntary exilein Iran.

Their sophistication is a far cry fromthe AK-47-wielding young Shi'itefighters who made up Sadr's MehdiArmy, which was behind much of thesectarian violence unleashed after the2003 US-led invasion of Iraq and bat-tled US troops.

"When Sadr was an untamed rabble-rouser, he lived in Najaf with unso-phisticated, informal networks protect-ing him," said Toby Dodge, an Iraqexpert at Queen Mary College,University of London. "The fact thathe's (now) got this highly visible,

highly trained and disciplined securitynetwork is both an indication of hismaturity and growing sophistication."

Sadr's movement has shifted toembracing the political process, win-ning 39 seats in Iraq's parliament andseven ministries in the new govern-ment, while his militia, although stillregarded with suspicion, has said it hasput down arms.

Since his homecoming to Najaf, Sadrhas hunkered down in his familyhouse, making only brief visits to the

Imam Ali shrine, one of Shi'ite Islam'sholiest sites, and his father's grave.

HOPE FOR STABILITYHis return has set Iraq aflutter, won-

dering whether he will help solidify itsfragile stability or cause a descentback into broader sectarian chaos. Butmany in both the Sunni and Shi'iteMuslim camps look to him to be aforce for stability.

The scion of a revered clerical fami-ly fled Iraq more than three years ago,

with an old arrest warrant hoveringover his head for the murder of anoth-er Shi'ite cleric.

Sadr was expected to address his fol-lowers Saturday.

In the meantime, one of the most vis-ible aspects of his presence is thebodyguards swarming through hisneighborhood.

"We are taking into considerationthat Sayyed Moqtada is a target for ter-rorist groups or parties or Americans.We have put in place a very detailed,

tight security plan," one of Sadr'sbodyguards, who declined to benamed, told Reuters.

"We have many guards, more thanyou can imagine."

Around Sadr's family house in Najaf,four security zones have been set up.Guards wearing long-sleeved blueshirts, beige pants and baseball capsman the outer perimeter, while theinner circles are monitored by men ingrey suits. A few of the bodyguards

wear sunglasses.The sophistication of Sadr's security

has raised questions about where theywere trained, especially given the timethat Sadr spent under the patronage ofneighboring Shi'ite Iran.

"We are all sure that his bodyguardsreceived training in Iran. I noticed thatwhen I saw his convoy. They workprofessionally and don't allow anyvehicle to come near them," saidMuhammad Massoud, 38, a Najaf taxidriver.

The support of the Sadrists, thoughtto have been brokered at least in partby Iran, was crucial in securing a sec-ond term for Prime Minister Nuri al-Maliki and ending a 9-month dead-lock over the formation of a govern-ment in Iraq.

However, Sadr's bodyguard said thesecurity teams had received high-leveltraining in Iraq.

Dodge said all the signs were that Sadrwanted to project a more mature image,away from his more militant past.

"It's sending a clear signal (that), 'I'ma proper politician now, I'm not a manof the street. I am organized, I am asvulnerable and as protected as anyother Green Zone politician'," Dodgesaid, referring to Baghdad's heavilyfortified area of government officesand embassies.-Reuters

The Metamorphosis

The European Union hasturned down an offer from Iranto tour its nuclear facilities, EUforeign affairs chief CatherineAshton said on Friday, butremains optimistic about talkswith Tehran later this month.

Iran has sent letters to a num-ber of ambassadors to theInternational Atomic EnergyAgency in Vienna, invitingthem to visit Natanz uraniumenrichment plant and the Arakheavy water complex duringthe coming weeks.s

Diplomats from Britain,France, Germany and theUnited States were not invited.But Hungary, which holds therotating presidency of theEuropean Union until July, wasinvited, leaving the EU in aquandary over what to do.

"What I'll be saying is therole of the inspections ofnuclear sites is for the IAEAand I do hope Iran will ensurethat the IAEA is able to go andcontinue and fulfill its work,"Ashton told Reuters after talkswith Hungarian ForeignMinister Janos Martonyi, say-ing the invitation would bedeclined.

While the United States andthe three EU powers mostinvolved in applying pressure

on Iran to suspend its uraniumenrichment were snubbed byTehran, Russia and China,which are also involved in spo-radic nuclear talks with Iran,were invited.

Ashton said she had consult-ed with Russia and Chinabefore deciding that the invita-tion should be turned down.

"I obviously coordinatedwith the other members of theE3+3 (six powers) who wereinvited.M yview ist h a tthoughthis isnot aninvita-t i o nthat I'mtak inga nega-tive view of, it's not our job,and looking at the sites andestablishing what they arerequires expertise," Ashtonsaid, referring to IAEA inspec-tors.

The West suspects Iran'snuclear program is directed atdeveloping bombs. Tehransays it is for peaceful energyonly.

Western diplomats have

described Iran's invitation asan attempt to split the six worldpowers and weaken punitivesanctions against Tehran overits secretive activity.

Russia and China have tend-ed to take a softer line on Iran.Both have yet to respond pub-licly to Tehran's invitation.

Western diplomats had saidon Wednesday that Russia andChina were being actively dis-couraged from going on the

tour as this could erode theunited front of the five perma-nent U.N. Security Councilmembers and Germany onIran's nuclear dossier.

GOODWILL GESTUREIn an interview published

before Ashton's comments,Iran's acting foreign minister,Ali Akbar Salehi, said the invi-tation was meant as a "good-will gesture."

"We have invited the ambas-sadors of the European Unionand Non-Aligned Movement(developing countries) entities... to visit Iran's nuclear facili-ties so that the lies propagatedby some non-benevolent coun-tries regarding Iran's nuclearactivities are shown," Salehitold the ISNA news agency.

Israeli intelligence assess-ments released on Friday saidIsrael believes Iran, its arch-

f o e ,w i l lnot beable top r o -d u c ea na t o mb o m bbefore2 0 1 5 .T h a t

extended timeline would allayfears of pre-emptive militarystrikes on Iran and providemore time to work out a diplo-matic solution.

Ashton did not say whethershe regarded Iran's invitationas a gambit to divide the sixpowers but said it would nothinder nuclear talks she isshepherding with the IslamicRepublic.

"It is not a roadblock at all.We have the dates for the(next) talks, we begin on theevening of January 20 andhave two days, or at least oneand a half days, which isextremely positive."

The talks are scheduled totake place in Istanbul and willbe attended by representativesof the six powers, she said.

"I'm looking forward to thetalks with Iran, that's my job.The Iranians have been helpfulin supplying the dates andmaking that work... We'reworking now on what weshould do in terms of sub-stance."

Other invitees for the tourincluded Egypt, Cuba,Venezuela, Brazil, Turkey,Algeria and the Arab League,diplomats said. Cuba andVenezuela are allies of Iran,while Turkey and Brazil havetried to mediate in Iran's stand-off with big powers.

Australia, Canada and Japan,all allies of Western powers,were not invited. Iran's rela-tions with the IAEA director,who is Japanese, have wors-ened since the leak of a USdiplomatic cable saying heshared the US position on keyIran issues.-Reuters

To talk or notto talk on nukes

The United States plans to cut $78billion in defense spending overfive years, including a reduction

of up to 47,000 troops, in a politicallycontentious move that would trim thegovernment's growing budget deficit.

The proposed cuts, unveiled at asomber Pentagon briefing on Thursday,follow increased White House and con-gressional scrutiny of military spend-ing, which has doubled in real termssince the September 11, 2001, attacks.

They are in addition to a $100 billioncost-savings drive that DefenseSecretary Robert Gates kicked off lastyear to eliminate waste, cut poorly per-forming weapons programs and redirectthe money to other priorities.

Congress ultimately controls theDefense Department's budget, and law-makers often block administrationefforts to cut military spending that pro-vides jobs in their home districts.

But Gates said the military had toplay its part in getting US finances inorder. "As the biggest part of the discre-tionary federal budget, the Pentagoncannot presume to exempt itself fromthe scrutiny and pressure faced by therest of our government," Gates said.

The annual budget request for thePentagon will be submitted to Congressas part of the overall federal budgetaround February 14. Industry sourcesand analysts say the Obama administra-tion will ask for $554 billion in militaryspending in fiscal 2012, not countingoverseas fighting, $12 billion less thanit initially intended.

Shares of major defense contractors

rose. Lockheed Martin Corp andGeneral Dynamics Corp have programsthat would be hit by the reshuffle butwere spared from deeper cuts that someinvestors feared.

Gates, in a half-hour address, said thePentagon would cope with the belt-tightening by freezing civilian pay,

changing economic assumptions andreducing troops starting in 2015, amongother items.

That will allow defense spending tokeep growing modestly through 2014before leveling off in 2015 and 2016,Gates said.

He said calls from some in Congressfor deeper cuts would be "risky at bestand potentially calamitous," citingglobal tensions that require a strong,modern US military.

Mitch McConnell, the top rankingRepublican in the Senate, said onThursday he believed no US govern-ment department was off-limits frombelt-tightening.

Other Republicans offered a swiftrebuke of the plans, in a sign that theproposed cuts may not be realizeddespite growing pressure to rein in US

government spending."I'm not happy," House Armed

Services Committee Chairman HowardMcKeon told reporters. "This is a dra-matic shift for a nation at war and adangerous signal from the Commanderin Chief."

TROUBLED PROGRAMS

McKeon and other critics took issuewith Gates' plans to cut up to 47,000troops from the Army and Marinesstarting in 2015, which would representthe first cuts for those services sincebefore the September 11 attacks.

Analysts said the announcement waspolitically dicey for President BarackObama, with US troops still at war inIraq and Afghanistan. Earlier onThursday, the Pentagon announced anew deployment of more Marines toAfghanistan.

"The land force end-strength cuts arejust shocking," said Thomas Donnelly,at the American Enterprise Institute, aconservative think tank.

But Gates said the reductions wouldtake place four years after US troopsare set to leave Iraq, and that 2015 wasalso the year US war planners aim to

hand over responsibility for Afghansecurity to local forces.

"The numbers that we're talking aboutare relatively small," Gates said.

Gates announced cuts or cancella-tions of troubled weapons programs,including a $13 billion Marine Corpslanding craft, designed by GeneralDynamics.

The Arca index of defense stocksclosed up 0.8 per cent, a sign of reliefthat financial fallout from thePentagon's spending overhaul was notworse than what had already been spec-ulated.

"The bear argument about significantcuts has been taken off the table," saidPeter Arment, an analyst with Gleacher& Co.

The plan also calls for cancellation ofa ground-launched missile built byRaytheon Co, and includes the secondoverhaul in a year of the Pentagon'slargest weapons program: LockheedMartin's F-35 Joint Strike Fighter.

The Lockheed restructuring will costthe company 124 planes over the fiveyears.

"Gates has announced the continueddismantling of the greatest military theworld has ever known," said J. RandyForbes, a Republican lawmaker.

But some of the Pentagon's cost-sav-ings will be reinvested in similar big-ticket programs, including a new long-range nuclear bomber, more ships forthe Navy and beefed up missile defensecapabilities. Boeing will win a potential$2 billion-plus order for 41 more F/A-18 fighters.-Reuters

It’s never too lateto cut defence budget

Congress ultimately controls theDefense Department's budget, and

lawmakers often block administrationefforts to cut military spending thatprovides jobs in their home districts“

Sadr's movement has shifted toembracing the political process,

winning 39 seats in Iraq's parliament andseven ministries in the new government“

While the United States and the three EUpowers most involved in applying pressureon Iran to suspend its uranium enrichment

were snubbed by Tehran, Russia andChina, which are also involved in sporadic

nuclear talks with Iran, were invited

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

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

Sales (July 10 to Nov 10) 32,092

Production (Nov 10) 7,087

Sales (Nov 10) 6,813

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

Sales (July 10 to Nov 10) 20,375

Production (Nov 10) 3,974

Sales (Nov 10) 3,753

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

Sales (July 10 to Nov 10) 6,247

Production (Nov 10) 1,145

Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORSProduction (July 10 to Nov 10) 186

Sales (July 10 to Nov 10) 70

Production (Nov 10) 0

Sales (Nov 10) 0

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

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

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

Spread (October 10) 7.49%

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

MS (Nov 10) 186

Kerosene (Jul 10 to Nov 10) 66

Kerosene (Nov 10) 12

JP (Jul 10 to Nov 10) 589

JP (Nov 10) 124

HSD (Jul 10 to Nov 10) 2,792

HSD (Nov 10) 612

LDO (Jul 10 to Nov 10)) 26

LDO (Nov 10) 4

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

Fuel Oil (Nov 10) 572

Others (Jul 10 to Nov 10) 3

Others (Nov 10) 1

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

MS (1 Nov 10) 44.53

MS % Chg 1.39%

Kerosene (1 Dec 10) 52.04

Kerosene (1 Nov 10) 51.25

Kerosene % Chg 1.54%

JP-1 (1 Dec 10) 52.27

JP-1 (1 Nov 10) 51.48

JP-1 % Chg 1.53%

HSD (1 Dec 10) 55.20

HSD (1 Nov 10) 54.24

HSD % Chg 1.77%

LDO (1 Dec 10) 50.52

LDO (1 Nov 10) 49.51

LDO % Chg 2.04%

Fuel Oil (1 Dec 10) 43,019

Fuel Oil (1 Nov 10) 42,046

Sector Updates

Symbol Close Vol (mn)FFBL 38.44 19.24 LOTPTA 14.73 13.74 NIB 3.17 12.71 DGKC 30.48 8.87 PTC 19.50 5.74

Symbol Close ChangeRMPL 2,090.30 58.29

NESTLE 2,471.66 31.66

SIEM 1,234.90 24.90

ULEVER 4,353.80 11.80

UPFL 1,110.45 9.45

Symbol Close ChangeWYETH 1,050.00 -46COLG 935.80 -27.8IDYM 254.06 -13.37PECO 216.60 -11.4PSEL 159.60 -8.39

Plus 198Minus 167Unchanged 23

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Saturday, January 8, 2011 5

Opening 12,323.47

Closing 12,389.04

Change 65.57

% Change 0.53

Turnover (mn) 151.76

Opening 3,763.99

Closing 3,783.95

Change 19.96

% Change 0.53

Turnover (mn) 8.50

Opening 3,132.96

Closing 3,155.91

Change 22.95

% Change 0.73

Turnover (mn) 0.28

Indonesia tumbleson foreigners’ selling

South East Asian stocks

European shares fall oneuro-zone debt worries

ANNOUNCEMENTS

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

Colony Sugar Mills Yearly - 118.05 1.19

Nawaz Ali

KARACHI: Improving politi-cal situation as governmentreverses recent increase in POLprices and buying on hopes ofbetter corporate results allowedthe bulls to extend their stay atthe Karachi Stock Exchangewhich ended higher on Friday.

The benchmark KSE-100index closed 65 points up at alevel of 12,389 points whileKSE all-share index gained 41points and KSE-30 index roseby 72 points to close at 8,592and 11,961 points respectively.

"Positive activity witnessed

as political uncertainty easeafter Government reverse fuelprices hike as a popular move",said Ahsan Mehanti, DirectorArif Habib Investments.

Rising foreign exchangereserves to record US$17.2 bil-lion, institutional and foreigninterest in blue chip oil and gas,fertilizer scrips continued onexpectation of record earningannouncements, he added.

Market started the day with again of 30 points and mostlyremained in the positive zoneduring the both sessions asinvestors rejoiced the decisionof the government to reverse the

increase in petroleum priceswhich was one of the majordemands by the opposition par-ties. Therefore this also helpedin easing political tension whilethe visit of Prime MinisterYusuf Raza Gilani to MQMheadquarters too supported themarket.

It should be noted that follow-ing some strong criticism by thepolitical parties, Prime Ministerreverted the recent increase inPOL prices on Thursday.

However investors bookedprofits at higher levels whichsent the index into the red zonefor awhile. But, continued buy-

ing by the local and foreigninstitutional investors in oil andgas and fertilizer sectors onexpectations of better thanexpected corporate resultannouncements kept on sup-porting the market throughoutthe day and it closed the weekon a greener note.

As per the NCCPL data, for-eign investors did a net buyingof $3.68 million on Friday. Onthe local side, companies did anet buying of $4.28 millionwhile mutual funds did a netselling of $6.77 million.

Index during the day toucheda low and a high of 12,275

points (-ve 47) and 12,429 (+ve105) respectively.

Apart from above mentionedfactors, hopes of early launch ofmuch awaited leverage productkept the investor sentimentsbullish.

Investor participation wit-nessed some improvement as151.7 million shares traded dur-ing the day which was 7.5 mil-lion shares more as compared toa turnover of 144.2 millionshares a day earlier.

Out of total 388 active issues;198 advanced and 167 declinedwhile 23 issues remainedunchanged.

MQM’s return to govtboosts KSE sentiments

US stocks late-morning

Wall Stflat after

jobs data NEW YORK: US stocks were

little changed on Friday as

investors treaded lightly after a

mixed US employment report

that fell short of increased

expectations of recovery in the

labor market.

The US economy created

103,000 jobs in December, the

Labor Department said, below

the forecast of 175,000. But

October and November were

revised upward, and

December's unemployment

rate fell to 9.4 per cent, the

lowest since May 2009.

"It's probably not as good a

number as the bulls wanted to

see, but by no means is it a bad

number," said Stephen

Massocca, managing director

at Wedbush Morgan in San

Francisco.

He said the market's recent

upward trend should contin-

ue."People will continue to

look at the economy as some-

thing that is improving and that

will continue to add buoyancy

to equity valuations,"

Massocca said.

The Labor Department revi-

sions showed 70,000 more jobs

added than previously reported

in October and November. Oil-

related shares led gains, with

the S&P energy sector up 0.5

per cent as crude oil rose 0.8

per cent to $89.07 per barrel.

For the jobs report, econo-

mists had revised their expec-

tations for non-farm payrolls

higher after Wednesday's sur-

prisingly strong ADP private-

sector employment figures,

which were triple forecasts.

"If we hadn't had that ADP

number, this would have been

seen more positively," said

Massocca.

The Dow Jones industrial

average dropped 4.24 points,

or 0.04 per cent, to 11,693.07.

The Standard & Poor's 500

Index slipped 1.19 points, or

0.09 per cent, to 1,272.66. The

Nasdaq Composite Index was

off 2.25 points, or 0.08 percent,

to 2,707.64.

The S&P 500 has posted

gains for the day on each of the

last four monthly payrolls

reports, according to a data

analysis by New York-based

Instinet. Only one of the four

gains was more than one per

cent, while the other three were

less than 0.65 per cent. Reuters

TOKYO: Japan's Nikkei aver-age edged up to a fresh eight-month closing peak on Fridayas investors stayed cautiousahead of key US jobs data,while a drop in commodityprices was offset by a strongperformance by Chinese equi-ties.

The Nikkei was trapped in atight range, moving in and outof positive territory throughoutthe day after the previous day'sdrop in Wall Street stocksmade investors nervous beforeDecember's US employmentreport later on Friday.

Sentiment in Tokyo, howev-er, was supported by gains onthe Shanghai market, as heavylending by banks at the start ofthe year has flooded theChinese stock market withcash while investors look for-ward to better corporate earn-ings for 2010 than previouslyexpected.

"The mood on the Nikkeiturned mildly positive in theafternoon lifted by theShanghai market, which start-ed on a very strong note," saidTakashi Ohba, a senior strate-gist at Okasan Securities.

The benchmark Nikkeiended the day up 0.1 per centor 11.28 points at 10,541.04.Immediate resistance nowlooms at its May 14 peak of10,551.69.

The broader Topix indexgained 0.2 per cent to 926.42.Trading volume was high, witharound 2.3 billion shareschanging hands on the TokyoStock Exchange's first section,well above last week's average

of around 1.3 billion.With rising expectations for

the world's largest economy torecover, investors aggressivelyadded lagging Tokyo equitieswith high exposure to the U.S.market and low price-to-bookratios, such as automakers,investors said.

Toyota Motor Co gained 2.2per cent, while Nissan MotorCo picked up 4.4 per cent.

Foreign investors were netbuyers of Japanese stocks inthe week to Jan. 1 for the ninthstraight week, with net pur-chases totaling 23.5 billion yen($282.2 million), the FinanceMinistry said on Friday.

Analysts say such buyingmay continue through theJanuary-March quarter asexpectations for decent resultsfrom U.S. and Japanese firmswill likely provide momentumfor further gains.

"Nothing has changed mar-ket expectations that stockswill rise further," saidMasatoshi Sato, a senior strate-gist at Mizuho InvestorsSecurities

Investors are eyeing long-term resistance, which couldbe tested if the U.S. jobs data isbetter than expected, at 10,638,an intraday level hit on May 13when the fiscal crisis in Greecerocked markets across theworld.

Investors expect non-farmUS payrolls for December toshow an overall gain of175,000, with the unemploy-ment rate falling to 9.7 percent from 9.8 per cent.Reuters

Nikkei ekes out new8-mth closing high

HONG KONG/SHANGHAI:Hong Kong stocks snapped aseven-session winning streak onFriday, losing ground as Chineselenders such as Agricultural Bankof China Ltd fell on further tighten-ing worries.

The benchmark Hang Seng Indexclosed down 0.42 per cent at23,686.63. The China EnterprisesIndex of top Hong Kong-listedmainland companies fell 0.44 percent to 12,925.71.

Shanghai's key stock index rose0.5 per cent on Friday but was offan intraday high, with renewedinterest in banking stocks and aflood of liquidity in the market off-setting talk of another imminentofficial tightening step, traders said.

"Upside on the Chinese banks islimited, because these are usuallyvery open to policy changes," saidPatrick Yiu, director at CASH AssetManagement in Hong Kong.

AgBank's Hong Kong-listedshares fell 1.72 per cent, while big-ger rival Industrial and CommercialBank of China slipped 0.68 percent.

Further weighing on bankingshares was China Minsheng's

planned 20 billion yuan fundraisingplan, which sources say will beannounced later on Friday.

Energy stocks such as CNOOCalso fell as the price of oil tumbled.CNOOC ended the session down2.44 percent to record its weakestclose this week.

Restricting gains in Hong Kongwas the upper Bollinger band at23,876, with stocks having hoveredaround the level and unable tobreak past the upper band in thepast two months.

SHANGHAI RISESThe Shanghai Composite Index

ended at 2,838.8 points but was off2,868 -- its highest level in the newyear, with shaky sentiment keepingthe index from decisively breakingthrough the crucial 250-day movingaverage now at 2,838.

The index gained 1.1 per cent forthe week as Chinese banks are rush-ing into their customary early-yearlending blast under China's loanquota system -- a factor that maytrigger official tightening steps andrestrain the stock market if it risestoo quickly, traders said.

Rumours of tightening have beensomewhat common in China and

some global markets ahead of theweekend. The People's Bank ofChina has raised interest rates twiceand bank reserve ratios for all banksthree times since mid-October tocounter inflation, which reached a28-month high of 5.1 per cent inNovember.

Traders said the PBOC has thepotential to raise bank reserve ratiosagain this month due to affluent liq-uidity in the money market butwere unlikely to raise interest rates.

"The day's rise was completelypropelled by the strength in bankingstocks, which have a heavy weighton the index," said Chen Shaodan,analyst at China Development BankSecurities in Beijing.

"But a monetary tightening envi-ronment underlines a lack ofmomentum for the market to rise ina sustained way, pushing the indexoff highs late in the day."

Banks, on the other hand, werethe biggest upward driver for theindex amid expectations that strong2010 results will push their valua-tions to new lows. ShanghaiPudong Development Bank Co, thetop index mover as a single stock,jumped 4.4 percent. Reuters

Hong Kong stocks snap7-day winning streak

FTSE-100down 0.6 pc

LONDON: Britain's top shareindex closed lower on Friday,led down by banks and miners,with investor sentiment damp-ened by disappointing USemployment data. The FTSE100 index ended down 35.18points, or 0.6 per cent, at5,984.33, though it notched a1.4 percent gain in the courseof the first, shortened tradingweek of 2011, having advanced6.7 per cent in December.

The US economy created103,000 jobs in December, theLabor Department said -- belowa forecast of 175,000 -- whichanalysts said could hamper theFTSE's near-term progress.

Michael Hewson, market ana-lyst at CMC Markets, envisagedthe UK blue-chip index slippingback towards 5,900 as a result."We could see a pullback forequities in the short term. What Idon't think we'll see is equitiestumbling," he said.

"I just think it makes theFed's QE programme morethan likely to go the full course,and that should underpin equitymarkets as such, but it couldmake progress higher a little bitmore long-winded."

The US jobs data is "not mas-sively negative but I think if ithad been better than expected,we'd have had an excuse to goeven higher next week," DavidJones, chief market strategist atIG Index, said. "I think it'sinjected another tone of cautioninto markets."

Risk-sensitive banks took themost points off the blue-chipindex, with analysts also pointingto ongoing concerns over eurozone sovereign debt. Reuters

BANGALORE: Indian sharesended 2.4 per cent lower onFriday, notching up a loss forthe first week of the year, ondeepening concerns the centralbank might raise interest ratessoon to rein in galloping infla-tion.

Interest rate sensitive sectorssuch as autos and real estatefell sharply while metals tooplummeted tracking a fall inglobal base metal prices.

The main BSE sensex, whichclimbed over 17 per cent in2010 propped by record for-eign fund inflows of $29.3 bil-lion, on Friday shed 4 per centfor the week, snapping a three-week rise.

"The market is down becausethere is a fear interest rates willbe raised soon," said NeerajDewan, director of QuantumSecurities. "There is not toomuch of a downside from here,the market is very close to find-ing a support."

Worries about aggressive rateincreases by the central bankheightened after the food priceindex rose 18.32 per cent in the12 months to Dec. 25, its high-est in more than a year.

The Reserve Bank of India isscheduled to review policy onJan. 25, and a Reuters poll onWednesday forecast at least a25 basis point increase in keyrates.

The 30-share BSE index fell2.4 per cent on Friday, or 492.9

points, to 19,691.81 points,with all its components in thered.

The auto index was down 3.3percent with Tata Motors shed-ding 5.5 percent and Mahindra &Mahindra off 4.1 per cent. Therealty index shed 1.8 per centwith the country's top listed real-tor DLF losing 3.1 per cent.

Metal counters lost theirsheen tracking lower globalprices with Hindalco slipping 7per cent and Tata Steel, theworld's seventh-largest steelmaker, losing 3.4 per cent. Thesector index ended over 4 per-cent down.

Export-led outsourcers TataConsultancy Services andInfosys Technologies fell 2.8per cent and 3.2 per centrespectively after hitting recordhighs earlier on hopes of astrong growth outlook in 2011.

Infosys kicks off the resultsseason with its quarterly num-bers on Jan. 13. "People arewaiting to see the results beforemore action," said VaibhavSanghavi, director of AmbitCapital, referring to quarterlyearnings that begin rolling outfrom next week.

"Meanwhile, inflation hasbeen bothering and we can seebanks under pressure." Thebanking sector, which led thelosses early in the session, sawsome buying towards the latterhalf of the session and ended1.4 per cent down. Reuters

Indian sharespost weekly loss

Saturday, January 8, 20116

Volume 151,762,107

Value 8,411,470,322

Trades 81,181

Advanced 198

Decline 167

Unchanged 23

Total 388

Current 8,592.23

High 8,618.44

Low 8,520.79

Change h41.03

Current 12,389.04

High 12,430.16

Low 12,274.14

Change h65.57

Current 11,961.38

High 11,990.26

Low 11,859.27

Change h72.95

Market KSE 100 Index All Share Index KSE 30 Index

Current 19,831.31

High 19,866.15

Low 19,621.60

Change h123.49

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

Pakistan Synthetics Limited

PSYL closed up 0.76 at 10.26. Volume was 810 per cent above average (trend-

ing) and Bollinger Bands were 32 per cent narrower than normal. The company's

profit after taxation stood at Rs41.538 million which translates into an Earning

Per Share of Rs0.74 for the 1st quarter of current fiscal year (1QFY11).

PSYL is currently 36.6 per cent above its 200-day moving average and is

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

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

very strong flows of volume into PSYL (bullish). Trend forecasting oscillators

are currently bullish on PSYL. Momentum oscillator is currently indicating

that PSYL is currently in an overbought condition.

RSI (14-day) 73.07 Total Assets (Rs in mn) 1,323.87

MA (10-day) 9.21 Total Equity (Rs in mn) 880.58

MA (100-day) 7.00 Revenue (Rs in mn) 3,280.76

MA (200-day) 7.25 Interest Expense 7.03

1st Support 9.80 Profit after Taxation 51.82

2nd Support 9.32 EPS 10 (Rs) 0.925

1st Resistance 10.63 Book value / share (Rs) 15.71

2nd Resistance 10.98 PE 11 E (x) 3.47

Pivot 10.15 PBV (x) 0.65

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

NIB closed up 0.21 at 3.17. Volume was 800 per cent above average

(trending) and Bollinger Bands were 13 per cent narrower than normal.

The company's loss after taxation stood at Rs3.559 billion which trans-

lates into a Loss Per Share of Rs0.88 for the nine months of current cal-

endar year (9MCY10).

NIB is currently 2.2 per cent below its 200-day moving average and is

displaying an upward trend. Volatility is extremely high when compared

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

cators reflect moderate flows of volume into NIB (mildly bullish). Trend

forecasting oscillators are currently bullish on NIB.

RSI (14-day) 61.76 Total Assets (Rs in mn) 208,118.96

MA (10-day) 2.94 Total Equity (Rs in mn) 41,643.27

MA (100-day) 2.81 Revenue (Rs in mn) 18,272.36

MA (200-day) 3.24 Interest Expense 12,872.36

1st Support 3.00 Profit after Taxation 691.05

2nd Support 2.83 EPS 09 (Rs) 0.171

1st Resistance 3.32 Book value / share (Rs) 10.30

2nd Resistance 3.47 PE 10 E (x) -

Pivot 3.15 PBV (x) 0.31

NIB Bank Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

SBL closed up 0.06 at 2.06. Volume was 10 per cent below average and

Bollinger Bands were 28 per cent narrower than normal. The company's profit

after taxation stood at Rs349.696 million which translates into an Earning Per

Share of Rs2.98 for the nine months of current calendar year (9MCY10).

SBL is currently 10.5 per cent below its 200-day moving average and is dis-

playing an upward trend. Volatility is relatively normal as compared to the

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

moderate flows of volume into SBL (mildly bullish). Trend forecasting oscil-

lators are currently bullish on SBL.

RSI (14-day) 57.58 Total Assets (Rs in mn) 23,734.13

MA (10-day) 1.98 Total Equity (Rs in mn) 7,075.66

MA (100-day) 1.91 Revenue (Rs in mn) 1,878.63

MA (200-day) 2.30 Interest Expense 1,208.86

1st Support 2.04 Loss after Taxation (593.05)

2nd Support 1.97 EPS 09 (Rs) (0.676)

1st Resistance 2.12 Book value / share (Rs) 8.07

2nd Resistance 2.13 PE 10 E (x) 0.52

Pivot 2.05 PBV (x) 0.26

Samba Bank Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

PIAA closed down -0.06 at 2.40. Volume was 86 per cent above average and

Bollinger Bands were 25 per cent narrower than normal. The company's loss

after taxation stood at Rs11.693 billion which translates into a Loss Per Share

of Rs4.79 for the nine months of current calendar year (9MCY10).

PIAA is currently 4.4 per cent below its 200-day moving average and is dis-

playing an upward trend. Volatility is relatively normal as compared to the

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

moderate flows of volume into PIAA (mildly bullish). Trend forecasting oscil-

lators are currently bullish on PIAA.

RSI (14-day) 54.46 Total Assets (Rs in mn) 160,013.18

MA (10-day) 2.36 Total Equity (Rs in mn) (20,772.84)

MA (100-day) 2.23 Revenue (Rs in mn) 94,563.77

MA (200-day) 2.51 Interest Expense 9,243.77

1st Support 2.40 Loss after Taxation (5,822.43)

2nd Support 2.33 EPS 09 (Rs) (2.72)

1st Resistance 2.52 Book value / share (Rs) (8.92)

2nd Resistance 2.57 PE 10 E (x) -

Pivot 2.45 PBV (x) (0.27)

Pakistan International Airline Corp Ltd

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,616.46 1,637.57 1,600.13 1,628.77 12.31 0.76

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

14,479,393 - - 65,194.15 mn 1,264,790.77 mn 1,628.77

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

11.76 3.83 32.54 55.94 4.76 1,535.69

Attock Petroleum 691 5.95 344.47 346.99 341.55 343.60 -0.87 210939 374.20 287.99 300 20B - -

Attock Refinery 853 7.32 130.36 131.70 128.41 130.63 0.27 3937236 137.20 82.10 - - - -

BYCO Petroleum 3921 - 11.24 11.33 11.16 11.27 0.03 940618 12.49 10.40 - - - -

Mari Gas Company 735 18.17 128.34 134.75 127.80 134.13 5.79 1020285 134.75 109.00 31 - - -

National Refinery 800 4.31 283.21 297.00 282.00 290.92 7.71 196586 297.00 203.00 200 - - -

Oil & Gas Development XD 43009 12.22 178.81 181.00 177.05 180.66 1.85 1077465 181.45 146.60 55 - 15.00 -

Pak Petroleum 11950 9.18 226.21 228.00 223.00 225.73 -0.48 1626388 228.88 178.06 90 20B - -

Pak Oilfields 2365 7.60 318.55 322.78 315.00 321.71 3.16 4770840 322.78 231.01 255 - - -

Pak Refinery Limited 350 - 106.46 107.98 104.50 106.31 -0.15 45444 114.50 61.76 - - - -

P.S.O 1715 5.02 294.94 299.45 294.00 296.56 1.62 1539030 300.53 262.00 80 - - -

Shell Gas LPG 226 - 33.25 34.80 33.25 33.29 0.04 10410 40.28 29.10 - - - -

Shell Pakistan 685 10.61 207.05 208.00 206.00 206.90 -0.15 44770 209.89 182.05 40 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

1,012.96 1,023.19 1,006.96 1,013.09 0.13 0.01

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

11,592,221 - - 47,070.70 mn 137,340.29 mn 1,013.09

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

7.05 0.61 8.64 16.68 2.37 1,002.30

(Colony) Thal 56 - 1.02 1.28 1.27 1.27 0.25 3000 1.99 0.52 - - - -Amtex Limited 2594 9.52 4.29 4.34 4.15 4.19 -0.10 268040 12.45 4.00 30 - - -Azam Textile 133 0.39 2.82 2.90 2.20 2.81 -0.01 1004 3.45 1.32 7.5 - - -Azgard Nine 4493 - 9.56 9.80 9.55 9.60 0.04 2517618 12.32 9.20 - - - -Babri Cotton 33 0.42 11.38 11.25 10.38 10.38 -1.00 4901 17.85 8.10 - 15B - -Bannu Woolen XD 76 0.47 13.50 13.50 13.10 13.50 0.00 2911 14.50 10.82 20 - - -Bata (Pak) 76 5.33 646.23 660.00 640.00 642.71 -3.52 1660 747.48 436.00 - - - -Bilal Fibres 141 0.45 1.60 1.70 1.40 1.68 0.08 2133 2.80 0.60 - - - -Brothers Textile 98 - 0.46 0.50 0.31 0.40 -0.06 99048 1.49 0.15 - - - -Chenab Limited 1150 - 3.13 3.20 3.02 3.08 -0.05 19960 3.90 3.00 - - - -Colgate Palm 316 35.13 963.60 960.00 930.00 935.80-27.80 367 965.00 680.00 - - - -Colony Mills Ltd 2442 3.84 2.45 2.64 2.36 2.46 0.01 504 3.33 2.17 - - - -Crescent Fibres Ltd 124 0.63 13.61 13.61 13.61 13.61 0.00 1000 14.60 8.41 10 - - -Crescent Jute 238 - 0.99 1.09 0.90 1.00 0.01 16748 1.38 0.16 - - - -Crescent Textile 492 4.43 22.55 23.05 23.05 23.05 0.50 200 23.99 17.89 15 - - -D S Ind Ltd 600 - 1.72 1.85 1.62 1.75 0.03 131649 2.37 1.47 - - - -Dawood Lawrencepur 514 50.88 42.85 43.99 42.70 43.25 0.40 14810 47.00 36.10 5 - - -Gadoon Textile XD 234 0.74 67.40 68.20 67.10 68.20 0.80 2120 71.40 38.30 70 - - -Ghani Value Glass 75 6.97 26.00 26.50 26.00 26.50 0.50 805 41.20 25.70 25 - - -Gulistan Spinning 146 1.24 6.81 6.98 6.05 6.48 -0.33 1015 8.86 5.01 10 - - -Gulshan Spinning 222 0.93 7.42 7.65 6.90 7.64 0.22 912 10.30 6.30 10 20B - -Hira Textile Mills Ltd. 716 0.75 3.99 4.00 3.99 4.00 0.01 23000 4.88 3.35 10 - - -Ibrahim Fibres 3105 3.61 44.92 46.50 45.00 45.96 1.04 219812 46.50 34.05 20 - - -Ideal Spinning 99 0.66 6.75 7.75 5.75 7.74 0.99 16559 7.75 2.85 - - - -Indus Dyeing 181 2.47 267.43 254.12 254.06 254.06-13.37 210 350.15 209.03 50 - - -J K Spinning 184 0.92 6.76 6.65 5.76 6.02 -0.74 7997 9.50 4.05 20 5B - -Janana D Mal 43 0.23 14.95 14.00 14.00 14.00 -0.95 1000 20.50 13.25 - - - -Kohat Textile 208 0.53 1.06 1.20 1.00 1.00 -0.06 16000 1.50 0.51 - - - -Kohinoor Ind 303 - 1.64 1.98 1.10 1.67 0.03 29654 2.00 1.10 - - - -Kohinoor Textile 1455 4.11 5.67 5.80 5.35 5.75 0.08 30004 5.97 4.82 - - - -Leather Up 60 2.94 1.65 2.60 2.00 2.47 0.82 2000 3.00 1.10 - - - -Masood Textile 600 2.06 19.50 19.55 19.51 19.54 0.04 1155 21.40 18.01 15 100R - -Mian Textile 221 - 0.51 0.50 0.50 0.50 -0.01 13569 0.75 0.14 - - - -Mohd Farooq 189 - 1.33 1.60 1.25 1.25 -0.08 3160 2.08 0.50 - - - -Moonlite (PAK) 22 - 9.39 10.39 8.39 10.16 0.77 3077 11.99 4.50 - - - -Mubarak Textile 54 30.00 0.80 1.20 1.20 1.20 0.40 500 1.39 0.60 - - - -Nishat (Chunian) 1596 1.96 23.70 24.14 23.55 23.65 -0.05 1652041 25.14 17.82 15 - - -Nishat Mills 3516 5.85 67.31 68.80 66.51 68.14 0.83 5570676 68.80 48.75 25 45R - -Pak Synthetic 560 3.47 9.50 10.50 9.67 10.26 0.76 407866 10.50 5.16 - - - -Paramount Spinning 174 0.73 10.10 10.20 10.00 10.00 -0.10 4511 11.25 7.65 10 10B - -Premium Textile 62 0.45 29.00 28.50 28.10 28.21 -0.79 7000 31.03 25.00 50 - - -Ravi Textile 250 - 1.50 1.62 1.43 1.53 0.03 8409 1.99 1.26 - - - -Redco Textile 213 - 0.99 0.99 0.99 0.99 0.00 3000 1.45 0.55 - - - -Rupali Poly 341 4.73 36.61 38.00 36.58 37.65 1.04 1555 38.10 31.25 40 - - -Saif Textile 264 0.36 4.45 4.50 3.90 4.50 0.05 103002 6.85 3.10 - - - -Salman Noman 42 2.54 5.70 6.00 5.20 6.00 0.30 201 6.00 2.01 - 5B - -Sargodha Spinning 312 0.52 2.25 2.90 2.65 2.66 0.41 5204 3.43 1.50 5 - - -Saritow Spinning 133 0.33 1.85 2.00 2.00 2.00 0.15 6000 2.99 1.10 - - - -Service Ind 120 8.00 232.53 243.99 233.00 233.54 1.01 2991 276.50 169.00 - - - -Shahtaj Textile 97 - 19.22 19.25 19.25 19.25 0.03 500 21.90 15.61 45 - - -Sunrays Textile 69 0.73 37.00 35.50 35.50 35.50 -1.50 500 39.84 32.00 30 - - -Suraj Cotton 180 0.85 38.04 38.50 38.00 38.09 0.05 4100 39.69 29.00 50 - - -Thal Limited 307 5.46 130.97 129.25 127.01 127.76 -3.21 101841 132.00 86.50 80 20B - -Treet Corp 418 9.65 59.70 61.74 59.40 60.63 0.93 226358 63.30 37.50 - - - -Tri-Star Poly 215 - 0.71 0.71 0.71 0.71 0.00 2000 1.50 0.26 - - - -Zephyr Textile Ltd 594 5.07 4.00 3.85 3.85 3.85 -0.15 21115 4.90 2.35 - - - -Zil Limited 53 3.66 54.51 55.00 52.01 54.62 0.11 4717 58.99 36.00 35 - - -

Paid up Last 60 days 2010 2011

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

1,148.27 1,168.85 1,142.03 1,160.62 12.35 1.08

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

803,030 - - 3,763.71 mn 5,277.76 mn 1,160.62

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

2.65 0.28 10.64 6.27 2.36 1,130.06

Gauhar Engineering Ltd 22 - 0.65 1.65 0.99 1.10 0.45 72000 1.65 0.20 - - - -

Pak Elektron 1174 3.85 14.62 15.49 14.60 15.29 0.67 712465 15.49 12.90 - 10B - -

Singer Pak 341 21.91 19.85 19.55 19.50 19.50 -0.35 2105 20.79 16.51 - - - -

Tariq Glass Ind 231 2.43 20.51 20.89 20.30 20.35 -0.16 16450 21.40 15.90 17.5 - - -

Paid up Last 60 days 2010 2011

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

1,684.46 1,707.54 1,632.72 1,688.39 3.92 0.23

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

481,946 - - 11,335.33 mn 228,732.36 mn 1,707.64

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

37.94 11.50 30.30 30.57 0.81 1,684.46

Abdullah Shah Ghazi Sugar 793 10.58 6.00 5.50 5.01 5.50 -0.50 1600 9.38 4.06 - - - -

Adam Sugar 58 1.21 19.40 19.50 19.10 19.44 0.04 5002 20.50 11.23 25 - - -

AL-Abbas Sugar 174 8.01 94.75 94.50 94.00 94.50 -0.25 2602 97.00 90.16 50 - - -

AL-Noor Sugar 186 3.68 50.00 52.50 50.10 50.46 0.46 7877 53.02 41.00 50 - - -

Bawany Sugar 87 - 5.59 5.80 4.59 5.00 -0.59 8985 6.73 0.86 - - - -

Chashma Sugar 287 1.12 12.08 12.50 11.08 11.08 -1.00 39683 15.47 8.50 10 - - -

Colony Sugar Mills 990 2.76 3.50 3.87 3.05 3.28 -0.22 20105 5.70 2.60 - - - -

Crescent Sugar 214 - 5.93 5.50 5.50 5.50 -0.43 5000 6.90 5.00 - - - -

Dewan Sugar 365 - 3.81 4.10 3.75 4.02 0.21 93373 5.59 1.25 - - - -

Faran Sugar 217 4.06 20.00 20.40 19.50 20.24 0.24 1107 21.73 18.55 25 - - -

Habib Sugar 600 7.46 33.45 33.55 33.03 33.21 -0.24 63397 36.50 29.00 25 25B - -

Hussein Sugar 121 - 10.80 10.00 9.86 9.86 -0.94 125 13.65 9.00 - - - -

J D W Sugar 490 3.12 89.20 89.00 86.00 88.00 -1.20 18071 92.50 66.00 7010B 12.5R - -

Mehran SugarSPOT 143 3.47 59.64 60.00 57.55 58.73 -0.91 3678 68.49 50.50 35 20B - -

Mirpurkhas SugarXDXB 84 4.21 52.00 53.00 50.20 50.51 -1.49 135 68.22 48.11 15 20B - -

Mirza Sugar 141 0.61 6.15 6.50 6.00 6.00 -0.15 67755 7.18 4.20 10 - - -

Mithchells Fruit 50 9.34 82.00 86.10 78.00 86.10 4.10 2135 86.10 61.50 40 - - -

National Foods 414 22.52 60.60 62.88 59.00 60.36 -0.24 3364 75.50 39.01 12 - - -

Noon Sugar 165 - 10.03 9.44 9.03 9.20 -0.83 11114 14.84 9.03 - - - -

Pangrio Sugar 109 0.90 6.25 6.27 6.15 6.16 -0.09 6343 6.99 4.25 10 - - -

Premier Sugar 38 4.53 45.27 47.53 43.15 46.49 1.22 305 53.81 32.50 10 - - -

Quice Food 107 - 2.63 2.75 2.50 2.53 -0.10 56000 3.40 2.02 - - - -

S S Oil 57 0.28 3.25 3.21 3.20 3.21 -0.04 7000 3.89 3.00 - - - -

Sakrand Sugar 223 - 3.17 3.09 2.25 3.09 -0.08 30000 3.90 2.11 - - - -

Sanghar Sugar 119 1.28 14.48 14.90 14.00 14.44 -0.04 19155 15.00 13.00 15 - - -

Shahmurad Sugar 211 6.60 10.10 10.40 10.00 10.10 0.00 6419 13.50 9.85 10 - - -

Shakarganj Mills 695 - 6.06 6.50 5.11 5.93 -0.13 286 7.88 3.90 - - - -

Sindh Abadgar 104 5.29 10.99 11.00 10.89 11.00 0.01 103 11.20 4.75 10 - - -

Tandlianwala 1177 322.73 35.50 35.50 35.50 35.50 0.00 500 36.75 28.00 - - - -

Thal Industries 150 7.93 66.20 62.89 62.89 62.89 -3.31 201 98.70 62.89 15 - - -

Paid up Last 60 days 2010 2011

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

1,224.03 1,256.77 1,210.17 1,227.71 3.68 0.30

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

617,800 - - 6,768.53 mn 44,882.56 mn 1,227.71

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

4.38 1.11 25.35 20.42 4.66 1,182.04

Agriautos Ind 144 5.80 75.71 77.50 72.00 76.50 0.79 7770 77.50 65.75 90 - - -Atlas Battery 101 5.84 194.87 197.00 194.00 195.42 0.55 8177 197.00 137.00 100 20B - -Atlas Engineering Ltd 247 16.24 17.19 18.19 18.00 18.19 1.00 3000 19.88 15.00 - - - -Atlas Honda 626 9.69 138.89 143.80 132.51 133.73 -5.16 3761 143.80 94.00 - - - -Dewan Motors 890 - 2.35 2.47 2.30 2.32 -0.03 204534 2.89 1.20 - - - -Exide (PAK) 56 4.94 206.32 212.00 206.00 209.00 2.68 548 212.00 139.74 60 - - -General Tyre 598 21.28 24.07 25.27 24.00 24.69 0.62 75028 25.27 21.00 20 - - -Ghandhara Nissan 450 3.40 5.00 5.18 4.90 4.90 -0.10 42302 5.67 4.03 - - - -Honda Atlas Cars 1428 - 11.57 11.68 11.36 11.39 -0.18 7731 13.40 10.20 - - - -Indus Motors 786 5.92 257.21 266.00 257.75 259.30 2.09 54837 282.45 220.00 150 - - -Pak Suzuki 823 11.46 71.97 72.45 71.00 72.00 0.03 206697 77.90 66.75 - - - -Sazgar Engineering 150 3.82 20.75 20.88 20.15 20.50 -0.25 3415 26.00 17.92 10 20B - -

Paid up Last 60 days 2010 2011

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

1,550.57 1,566.72 1,544.94 1,556.93 6.36 0.41

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

205,364 - - 1,336.62 mn 33,806.12 mn 1,556.93

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

8.50 3.23 38.02 131.49 15.46 1,536.55

AL-Ghazi Tractor 215 5.66 235.60 237.00 233.01 236.22 0.62 2410 239.89 200.00 150 - - -

Bolan Casting 104 - 44.97 44.50 44.50 44.50 -0.47 210 51.99 41.50 25 10B - -

Dewan Auto Engineering 214 - 1.55 1.79 1.25 1.55 0.00 4734 2.40 0.21 - - - -

Ghandhara Ind 213 11.44 12.29 12.75 12.06 12.35 0.06 56735 14.80 10.55 - - - -

Hinopak Motor 124 - 129.32 127.50 126.00 126.02 -3.30 588 147.89 113.00 - - - -

KSB Pumps 132 7.19 60.73 61.59 60.05 60.07 -0.66 3829 80.00 58.81 - - - -

Millat Tractors XB 366 6.84 517.33 526.00 518.50 522.88 5.55 136292 526.00 437.31 650 25B - -

Pak Engineering 57 601.67 228.00 217.00 216.60 216.60 -11.40 566 324.80 216.60 100 - - -

Paid up Last 60 days 2010 2011

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

1,037.97 1,059.57 1,037.60 1,048.29 10.32 0.99

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

432,791 - - 3,043.31 mn 39,485.69 mn 1,048.29

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

2.92 1.28 43.91 15.55 5.33 1,019.70

Cherat Papersack 115 2.72 77.08 78.00 76.11 76.35 -0.73 30197 83.23 34.00 20 25B - -

ECOPACK Ltd 230 - 2.82 2.90 2.70 2.70 -0.12 57969 3.30 1.82 - - - -

Ghani Glass 1067 4.55 49.21 49.59 49.12 49.46 0.25 1210 61.10 45.30 25 10B - -

MACPAC Films 389 - 3.24 3.50 3.05 3.42 0.18 24009 4.05 1.60 - - - -

Merit Pack 47 57.50 22.71 23.35 23.00 23.00 0.29 1001 25.90 15.10 - - - -

Packages Ltd 844 67.97 131.01 134.90 130.00 132.55 1.54 294991 136.74 100.11 - - - -

Tri-Pack Films 300 9.16 126.98 128.49 125.25 125.58 -1.40 23390 128.70 98.10 - - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

1,004.70 1,020.72 990.58 1,003.61 -1.10 -0.11

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

10,957,810 - - 54,792.74 mn 71,779.91 mn 1,006.96

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

8.01 0.57 7.10 19.04 2.38 983.81

Attock Cement 866 6.61 62.68 62.90 62.00 62.81 0.13 5626 65.99 57.60 50 - - -

Balochistan Glass Ltd 858 - 2.71 2.98 2.50 2.80 0.09 1879 4.24 1.10 - - - -

Berger Paints 182 - 21.76 22.59 22.00 22.40 0.64 30955 24.16 14.12 - 122R - -

Bestway Cement 3257 - 19.10 18.10 18.10 18.10 -1.00 200 25.99 18.10 - - - -

Cherat Cement 956 24.66 11.18 10.85 10.85 10.85 -0.33 862 12.75 10.00 - - - -

Dadabhoy Cement 982 14.38 1.72 1.94 1.70 1.87 0.15 1003 2.49 1.31 - - - -

Dewan Cement 3891 - 2.30 2.39 2.20 2.21 -0.09 117029 3.10 1.40 - - - -

DG Khan Cement Ltd 3651 127.00 30.18 30.59 29.80 30.48 0.30 8871389 32.10 24.80 - 20R - -

Fauji Cement 6933 15.18 4.95 5.13 4.95 5.01 0.06 392789 5.55 4.70 - - - -

Flying Cement Ltd 1760 - 1.75 1.84 1.68 1.75 0.00 92340 2.25 1.60 - - - -

Gharibwal Cement 2319 - 7.65 7.99 7.70 7.70 0.05 502 9.19 2.70 - - - -

Haydery Const 32 - 0.70 0.88 0.66 0.70 0.00 17504 1.08 0.42 - - - -

Javedan Cement 581 - 60.05 63.05 57.05 59.12 -0.93 792 63.05 56.05 - - - -

Kohat Cement 1288 - 6.69 6.69 6.45 6.60 -0.09 6119 8.70 5.80 - - - -

Lafarge Pakistan Cmt. 13126 - 3.31 3.38 3.25 3.29 -0.02 328894 3.79 2.71 - - - -

Lucky Cement 3234 6.75 75.05 75.60 74.90 75.13 0.08 866665 79.98 69.20 40 - - -

Maple Leaf Cement 5261 1.32 2.86 2.97 2.83 2.84 -0.02 133850 3.30 2.66 - - - -

Maple Leaf(Pref) 541 3.60 4.81 4.90 4.90 4.90 0.09 174 8.89 3.21 - - - -

Pioneer Cement 2228 - 6.94 7.04 6.90 7.01 0.07 87972 8.58 6.52 - - - -

Safe Mix Concrete 200 - 7.20 7.13 6.99 7.00 -0.20 311 7.50 5.25 - - - -

Shabbir Tiles 361 - 8.69 8.50 8.50 8.50 -0.19 1008 9.60 6.30 - - - -

Thatta Cement 798 450.00 18.00 18.00 18.00 18.00 0.00 140 22.24 17.51 - 50R - -

Paid up Last 60 days 2010 2011

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

1,089.97 1,106.62 1,069.56 1,085.38 -4.59 -0.42

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

214,247 - - 3,596.11 mn 10,605.93 mn 1,089.97

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

3.46 1.15 33.10 30.91 8.93 1,055.58

Crescent Steel 565 4.25 27.15 27.50 26.52 27.20 0.05 23460 28.45 24.00 30 - - -

Dost Steels Ltd 675 - 2.61 2.70 2.60 2.64 0.03 14305 3.39 2.00 - - - -

Huffaz Pipe 555 9.75 15.43 15.67 15.35 15.60 0.17 29101 16.05 12.50 - - - -

International Ind 1199 12.16 58.89 59.40 58.25 58.39 -0.50 146679 62.20 44.00 40 20B - -

Siddiqsons Tin 785 11.20 10.00 10.48 9.52 9.86 -0.14 702 10.70 8.00 7.5 - - -

Paid up Last 60 days 2010 2011

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

1,239.71 1,259.46 1,221.13 1,226.02 -13.69 -1.10

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

172,063 - - 1,186.83 mn 3,397.39 mn 1,239.71

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

6.32 0.47 7.47 25.28 4.00 1,161.02

Century Paper 707 - 19.04 19.20 18.50 18.69 -0.35 158192 19.49 15.28 - - - -

Pak Paper Product 50 8.66 45.25 46.48 45.00 45.01 -0.24 2302 48.90 38.61 2533.33B - -

Security Paper 411 6.91 45.09 46.00 44.80 44.80 -0.29 11569 47.70 38.00 50 - - -

Paid up Last 60 days 2010 2011

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

1,446.54 1,479.11 1,437.28 1,464.06 17.52 1.21

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

47,613,221 - - 52,251.88 mn 330,403.07 mn 1,464.06

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

8.97 3.14 35.00 48.81 5.44 1,372.62

Agritech Limited 3924 8.41 23.81 23.20 23.10 23.20 -0.61 6000 24.85 20.26 - - - -

Bawany Air 68 69.50 8.75 9.49 7.91 8.34 -0.41 2075 12.75 7.16 5 10R - -

BOC (Pak) 250 13.90 100.20 103.94 101.00 101.16 0.96 2791 103.94 72.05 15 - - -

Clariant Pak 273 7.15 183.00 190.90 181.50 187.07 4.07 32681 190.90 149.72 - - - -

Dawood Hercules 1203 8.26 199.01 203.50 197.00 199.25 0.24 189662 203.50 165.73 40 - - -

Descon Chemical 1996 - 2.90 3.25 2.92 3.07 0.17 212926 3.74 2.00 - - - -

Descon Oxychem Ltd. 1020 - 8.48 8.69 8.08 8.21 -0.27 469905 9.25 3.41 - - - -

Dewan Salman 3663 - 3.34 3.40 3.24 3.28 -0.06 1046307 4.24 1.32 - - - -

Dynea Pak 94 - 11.01 11.00 11.00 11.00 -0.01 500 13.79 9.15 15 - - -

Engro Corporation Ltd 3277 11.07 198.28 203.20 197.01 201.55 3.27 4784930 203.20 174.00 40 - - -

Engro Polymer 6635 - 14.56 15.55 14.50 15.24 0.68 2188696 15.55 12.90 - - - -

Fatima Fertilizer 22000 - 11.07 11.25 11.00 11.21 0.14 1920137 11.39 9.16 - - - -

Fauji Fertilizer 6785 9.57 130.73 132.90 130.15 132.10 1.37 3202439 133.50 106.01 95 - - -

Fauji Fert.Bin Qasim 9341 7.25 37.21 38.89 37.00 38.44 1.23 19240593 38.89 28.15 17.5 - - -

Gatron Ind 384 2.34 43.40 44.75 43.50 43.69 0.29 761 46.59 38.03 20 - - -

Ghani Gases Ltd 725 9.72 12.27 13.07 12.25 12.83 0.56 567612 13.85 11.00 - - - -

ICI Pakistan 1388 8.47 151.79 152.45 149.50 150.38 -1.41 368320 152.49 119.50 55 - - -

Ittehad Chemical 360 12.09 33.71 35.35 32.25 32.41 -1.30 551 36.00 21.39 5 - - -

Lotte Pakistan 15142 5.26 14.71 14.99 14.68 14.73 0.02 13739575 14.99 8.71 - - - -

Mandviwala 74 - 1.62 1.80 1.53 1.77 0.15 113 2.75 0.80 - - - -

Nimir Ind Chemical 1106 - 1.96 2.23 1.95 2.03 0.07 1305570 2.74 1.30 - - - -

Shaffi Chemical 120 - 2.35 2.50 2.03 2.40 0.05 4710 3.40 1.80 - - - -

Sitara Chem Ind 214 10.20 124.42 125.40 120.06 124.47 0.05 2665 139.40 101.00 25 5B - -

Sitara Peroxide 551 14.29 13.32 13.40 13.07 13.15 -0.17 453328 14.69 8.17 - - - -

Wah-Noble 90 7.02 36.38 37.10 36.35 36.48 0.10 3400 43.75 32.00 50 - - -

Paid up Last 60 days 2010 2011

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

986.85 998.64 978.63 989.01 2.16 0.22

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

79,030 - - 3,904.20 mn 33,197.07 mn 994.18

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

7.44 1.66 22.31 44.54 5.99 975.33

Abbott (Lab) 979 9.51 109.00 109.25 108.13 108.50 -0.50 2650 112.50 89.88 20 - - -

Ferozsons (Lab) 250 6.68 86.75 89.00 87.00 88.49 1.74 798 113.00 82.20 - 20B - -

GlaxoSmithKline 1707 15.36 85.58 86.50 85.00 85.38 -0.20 19193 89.98 68.00 - - - -

Highnoon (Lab) 165 8.27 29.43 30.35 29.00 29.86 0.43 4493 30.35 23.50 - - - -

IBL HealthCare Ltd 200 6.69 8.46 9.00 7.81 8.30 -0.16 11110 9.00 7.16 - - - -

Otsuka Pak 100 7.59 34.35 34.00 34.00 34.00 -0.35 2010 35.15 27.50 - - 15 -

Searle Pak 306 5.62 60.09 63.09 60.00 62.51 2.42 38772 64.50 59.00 30 - - -

Paid up Last 60 days 2010 2011

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

720.63 734.20 713.23 719.22 -1.41 -0.20

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

21,700 - - 3,242.17 mn 12,693.65 mn 737.35

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

5.60 1.43 25.53 11.08 1.98 719.22

Pak Int Cont.Terminal 1092 6.90 69.05 70.45 68.61 69.02 -0.03 21245 77.77 60.05 40 - - -

PNSC 1321 40.38 37.43 38.00 36.50 37.15 -0.28 455 40.42 32.36 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

BOC Pakistan 11-Jan 17-Jan - - 17-JanBuxly Paints # 11-Jan 19-Jan - - 19-JanTRG Pakistan 12-Jan 20-Jan - - 20-JanShadman Cotton Mills # 12-Jan 18-Jan - - 18-JanKohinoor Mills # 13-Jan 20-Jan - - 20-JanMybank Ltd. # 13-Jan 19-Jan - - 20-JanSummit Bank # 13-Jan 19-Jan - - 20-JanEllcot Spin Mills # 14-Jan 20-Jan - - 20-JanProsperity Weaving Mills # 14-Jan 20-Jan - - 20-JanMehran Sugar Mills 14-Jan 21-Jan - - 21-JanDawood Lawrencepur # 15-Jan 21-Jan - - 21-JanHabib Sugar Mills 15-Jan 29-Jan 25.25(B) 7-Jan 29-JanLakson Tobacco # 18-Jan 25-Jan - - 25-JanHaseeb Waqas Sugar Mills 18-Jan 25-Jan 10-Jan 10-Jan 25-JanNagina Cotton Mills # 19-Jan 25-Jan - - 25-JanSanghar Sugar Mills 19-Jan 31-Jan 15-Jan 11-Jan 31-JanSindh Abadgar's Sugar Mills 19-Jan 28-Jan 10-Jan - 28-JanShahtaj Sugar Mills 20-Jan 1-Feb - - 27-JanShahmurad Sugar Mills 22-Jan 2-Feb 10-Jan 14-Jan 28-JanFecto Sugar Mills 22-Jan 29-Jan - - 29-JanAl-Noor Sugar Mills 22-Jan 2-Feb 19-Feb - 28-JanPangrio Sugar Mills 22-Jan 31-Jan 10-Jan 14-Jan 31-Jan

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan Cables 53.01 53.05 52.1 52.1 -0.91 1030TRG Pakistan Ltd. 3.4 3.46 3.27 3.31 -0.09 1639381Shezan International 122.74 128.87 122.51 122.51 -0.23 11621Grays of Cambridge 50 49.9 49.5 49.85 -0.15 550Pak Tobacco 116.51 120 114 114.95 -1.56 3963Shifa Int.Hospitals 29.9 31.39 29.91 31.39 1.49 13071Eye Television 24.67 25 23.61 24 -0.67 2338Media Times Ltd 46.42 44.1 44.1 44.1 -2.32 213P.I.A.C.(A) 2.46 2.5 2.38 2.4 -0.06 270228AKD Capital Limited 48.81 50.99 47.6 48.93 0.12 450Pace (Pak) Ltd. 2.54 2.65 2.41 2.47 -0.07 731587Netsol Technologies 20.01 20.35 19.85 20.17 0.16 616450

Symbols Open High Low Close Change Vol

Saturday, January 8, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 65.57 points at 12,389.04. Volume was 63 per

cent above average and Bollinger Bands were 14 per cent wider than nor-

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

resistance level at 12,454.75 and 2nd resistance level at 12,520.45, while

Index will continue to find its 1st support level at 12,298.75 and 2nd sup-

port level at 12,208.45.

KSE 100 INDEX is currently 19.5 per cent above 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 indi-

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

forecasting oscillators are currently bullish on INDEX. Momentum oscillator is

currently indicating that INDEX is currently in an overbought condition.

RSI (14-day) 78.22 Support 1 12,298.75

MA (5-day) 12,162.61 Support 2 12,208.45

MA (10-day) 12,051.08 Resistance 1 12,454.75

MA (100-day) 10,660.47 Resistance 2 12,520.45

MA (200-day) 10,374.07 Pivot 12,364.45

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 1.23 at 38.44. Volume was 600 per cent above average

(trending) and Bollinger Bands were 3 per cent wider than normal.

FFBL is currently 27.4 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 FFBL (mildly bullish). Trend forecast-

ing oscillators are currently bullish on FFBL.

*Arif Habib Ltd 34.7 Sell

AKD Securities Ltd 32.06 Accumulate

TFD Research 29.1 Negative

RSI (14-day) 68.17 Free Float Shares (mn) 326.94

MA (10-day) 36.75 Free Float Rs (mn) 12,567.52

MA (100-day) 31.25 ** NOI Rs (mn) 81.86

MA (200-day) 30.21 Mean 37.89

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

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed up 0.30 at 30.48. Volume was 102 per cent above average

and Bollinger Bands were 47 per cent narrower than normal.

DGKC is currently 13.2 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is extremely low when compared to

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

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

Trend forecasting oscillators are currently bearish on DGKC.

*Arif Habib Ltd 42 Buy

AKD Securities Ltd 43.29 Buy

TFD Research 36.85 Positive

RSI (14-day) 55.31 Free Float Shares (mn) 182.55

MA (10-day) 30.01 Free Float Rs (mn) 5,564.11

MA (100-day) 27.18 ** NOI Rs (mn) 37.86

MA (200-day) 26.93 Mean 30.26

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed down -0.02 at 19.50. Volume was 255 per cent above average

(trending) and Bollinger Bands were 64 per cent narrower than normal.

PTC is currently 0.1 per cent above its 200-day moving average and is dis-

playing a downward trend. Volatility is low as 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) 54.12 Free Float Shares (mn) 585.00

MA (10-day) 19.40 Free Float Rs (mn) 11,407.49

MA (100-day) 19.02 ** NOI Rs (mn) 7.46

MA (200-day) 19.49 Mean 19.46

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 0.83 at 68.14. Volume was 31 per cent above average and

Bollinger Bands were 34 per cent wider than normal.

NML is currently 32.2 per cent above its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on NML. Momentum oscillator is cur-

rently indicating that NML is currently in an overbought condition.

AKD Securities Ltd 59.97 Buy

TFD Research 74.2 Neutral

RSI (14-day) 71.53 Free Float Shares (mn) 175.80

MA (10-day) 64.68 Free Float Rs (mn) 11,979.01

MA (100-day) 52.51 ** NOI Rs (mn) 83.23

MA (200-day) 51.55 Mean 67.69

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

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed up 0.23 at 77.65. Volume was 41 per cent above average and

Bollinger Bands were 41 per cent wider than normal.

NBP is currently 14.5 per cent above its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on NBP. Momentum oscillator is current-

ly indicating that NBP is currently in an overbought condition.

*Arif Habib Ltd 82.1 Buy

AKD Securities Ltd 61.96 Neutral

TFD Research 92.3 Positive

RSI (14-day) 71.22 Free Float Shares (mn) 318.44

MA (10-day) 75.40 Free Float Rs (mn) 24,727.19

MA (100-day) 66.79 ** NOI Rs (mn) 92.77

MA (200-day) 67.81 Mean 77.64

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

Technical Analysis Leverage Position

Engro Corporation

Brokerage House Fair Value Rs Recommendations

Technical Outlook

ENGRO closed up 3.27 at 201.55. Volume was 253 per cent above aver-

age (trending) and Bollinger Bands were 31 per cent wider than normal.

ENGRO is currently 8.7 per cent above its 200-day moving average and is

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

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

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

casting oscillators are currently bullish on ENGRO.

*Arif Habib Ltd 176 Sell

AKD Securities Ltd 238.8 Buy

TFD Research 208.75 Neutral

RSI (14-day) 64.10 Free Float Shares (mn) 147.48

MA (10-day) 194.80 Free Float Rs (mn) 29,724.91

MA (100-day) 180.49 ** NOI Rs (mn) 135.75

MA (200-day) 185.36 Mean 200.01

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed up 3.16 at 321.71. Volume was 176 per cent above average

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

POL is currently 33.5 per cent above its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on POL. Momentum oscillator is current-

ly indicating that POL is currently in an overbought condition.

*Arif Habib Ltd 317.2 Hold

AKD Securities Ltd 296.6 Buy

TFD Research 281.35 Negative

RSI (14-day) 78.67 Free Float Shares (mn) 107.94

MA (10-day) 301.62 Free Float Rs (mn) 34,726.06

MA (100-day) 251.87 ** NOI Rs (mn) 298.04

MA (200-day) 240.99 Mean 0.00

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,350.61 1,369.52 1,341.12 1,359.09 8.48 0.63

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

1,901,904 - - 29,771.58 mn 18,209.55 mn 1,359.09

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

18.48 0.41 2.21 104.74 8.81 1,322.98

1st Fid Leasing 264 9.94 1.41 1.80 1.59 1.59 0.18 188 2.00 1.05 - - - -

AL-Meezan Mutual F. 1375 7.54 8.77 9.08 8.90 9.05 0.28 198545 9.08 5.85 18.5 - - -

Atlas Fund of Funds 525 1.85 4.50 4.60 4.60 4.60 0.10 125979 4.80 2.70 2.2 - - -

B F Modaraba 75 2.63 3.26 4.00 4.00 4.00 0.74 108 4.35 2.89 - 10B - -

B R R Guardian Mod. 780 3.68 1.85 1.87 1.60 1.62 -0.23 12698 2.79 0.90 0 - - -

Constellation Modaraba 65 2.89 1.50 1.88 1.20 1.27 -0.23 2998 1.99 0.90 - - - -

Crescent St Modaraba 200 1.43 0.56 0.60 0.57 0.57 0.01 1001 1.10 0.16 1.2 - - -

Equity Modaraba 524 12.50 1.70 2.14 1.55 2.00 0.30 623526 2.37 1.03 - - - -

First Capital Mutual F. 300 7.90 3.50 4.50 3.16 3.16 -0.34 101 5.50 2.55 - - - -

First Dawood Mutual F. 581 0.63 2.00 2.16 2.00 2.00 0.00 150808 2.28 1.30 - - - -

Golden Arrow 760 2.21 3.15 3.19 3.09 3.10 -0.05 85715 3.80 2.56 17 - - -

H B L Modaraba 397 2.54 7.70 7.65 7.61 7.62 -0.08 546 8.49 5.11 11 - - -

JS Growth Fund 3180 71.50 5.63 5.75 5.60 5.72 0.09 89624 5.89 2.65 5 - - -

JS Value Fund 1186 18.29 5.18 5.24 5.10 5.12 -0.06 194191 5.24 2.31 10 - - -

KASB Modaraba 283 1.18 1.70 1.70 1.60 1.61 -0.09 2591 2.23 1.26 2.8 - - -

Meezan Balanced Fund 1200 7.50 7.90 7.95 7.77 7.80 -0.10 50261 8.25 5.15 15.5 - - -

Nat Bank Modaraba 250 5.65 6.15 6.10 6.02 6.10 -0.05 58500 7.74 4.50 10 - - -

Pak Modaraba 125 5.05 1.17 1.24 1.00 1.01 -0.16 588 2.00 0.30 3 - - -

Paramount Modaraba 59 6.88 9.10 9.00 8.80 8.80 -0.30 500 9.45 7.57 18 - - -

PICIC Energy Fund 1000 2.01 6.80 6.99 6.80 6.91 0.11 18637 7.18 4.83 10 - - -

PICIC Growth Fund 2835 8.50 13.03 13.30 13.05 13.26 0.23 203741 13.40 7.90 20 - - -

PICIC Inv Fund 2841 7.45 6.54 6.65 6.55 6.56 0.02 67370 6.74 3.50 10 - - -

Prud Modaraba 1st 872 2.45 1.00 1.09 1.00 1.08 0.08 5726 1.19 0.81 3 - - -

Stand Chart Modaraba 454 4.71 9.45 9.60 9.25 9.60 0.15 2242 10.29 7.81 17 - - -

U D L Modaraba 264 1.72 6.06 6.14 6.00 6.06 0.00 1534 6.99 4.71 12.5 - - -

UNICAP Modaraba 136 27.50 0.08 0.95 0.15 0.55 0.47 4000 0.95 0.05 - - - -

Paid up Last 60 days 2010 2011

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

405.54 412.71 401.43 405.17 -0.36 -0.09

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

2,513,773 - - 30,336.44 mn 18,944.24 mn 405.88

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

11.43 0.27 0.91 99.56 3.38 394.04

AMZ Ventures 225 1.55 0.69 0.80 0.65 0.68 -0.01 48136 0.95 0.33 - - - -

Arif Habib Investments 360 3.49 18.25 18.25 17.70 17.72 -0.53 38913 19.98 13.50 - 20B - -

Arif Habib Limited 450 13.30 26.07 26.44 25.75 26.06 -0.01 41476 28.95 24.40 - 20B - -

Arif Habib Corp 3750 4.90 26.08 26.85 25.90 26.63 0.55 5060234 27.02 22.10 30 - - -

Dawood Cap Mangt. XB 150 1.72 1.50 1.93 1.90 1.93 0.43 1001 2.14 1.05 - - - -

Dawood Equities 250 - 1.98 2.00 1.28 1.75 -0.23 132 2.69 1.28 - - - -

Escorts Bank 441 - 2.75 2.70 2.68 2.69 -0.06 2000 3.47 1.85 - - - -

First Credit & Invest Bank Ltd 650 12.58 3.44 3.02 3.02 3.02 -0.42 53000 4.50 2.15 - - - -

Grays Leasing 215 - 2.48 2.95 2.00 2.02 -0.46 3764 2.95 0.18 - - - -

IGI Investment Bank 2121 18.13 2.89 2.99 2.65 2.90 0.01 30633 3.90 1.50 - - - -

Invest and Fin Sec 600 700.00 7.10 7.00 7.00 7.00 -0.10 830 8.88 6.16 11.5 - - -

Invest Bank 2849 - 0.70 0.79 0.62 0.62 -0.08 136697 0.97 0.52 - - - -

Ist Cap Securities 3166 - 3.14 3.44 3.04 3.13 -0.01 4623 4.80 3.00 - 10B - -

Ist Dawood Bank 626 0.67 1.77 1.95 1.80 1.88 0.11 1151 2.40 1.05 - - - -

Jah Siddiq Co 7633 - 11.03 11.25 11.00 11.07 0.04 1873791 14.05 8.85 10 - - -

JOV and CO 508 - 4.04 4.19 4.00 4.01 -0.03 178653 5.38 2.15 - - - -

JS Global Cap 500 7.53 28.63 28.25 27.60 28.00 -0.63 4900 32.37 24.25 - - - -

JS Investment 1000 28.04 6.66 6.80 6.68 6.73 0.07 62231 7.59 5.21 - - - -

KASB Securities 1000 - 4.83 5.15 4.60 4.61 -0.22 17469 5.43 3.50 - - - -

Orix Leasing 821 4.56 6.60 6.50 6.10 6.20 -0.40 11000 7.29 4.70 - - - -

Pervez Ahmed Sec 775 - 2.04 2.13 2.00 2.08 0.04 27075 2.70 1.46 - - - -

Saudi Pak Leasing 452 - 0.62 0.97 0.63 0.68 0.06 27264 0.97 0.46 - - - -

Stand Chart Leasing 978 5.94 2.85 2.85 2.58 2.85 0.00 2005 3.00 2.25 - - - -

Paid up Last 60 days 2010 2011

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

861.48 876.48 850.35 855.49 -5.98 -0.69

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

22,970 - - 2,290.72 mn 9,971.07 mn 896.07

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

6.10 3.70 3.85 355.53 3.70 855.49

East West Life 455 - 3.00 3.40 2.81 2.85 -0.15 8389 4.62 2.08 - 20R - -

EFU Life Assurance 850 42.33 73.87 74.90 73.30 74.50 0.63 480 86.95 60.00 - - - -

New Jub Life Insurance 627 28.19 42.53 43.50 42.00 42.00 -0.53 14100 49.31 39.95 - - - -

Paid up Last 60 days 2010 2011

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

1,189.88 1,205.70 1,179.96 1,192.35 2.47 0.21

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

29,987,449 - - 257,548.02 mn 723,017.91 mn 1,192.35

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

8.55 1.19 13.94 40.49 4.74 1,158.84

Allied Bank Limited 7821 6.98 71.75 72.06 71.35 71.85 0.10 168166 72.99 51.70 20 - - -

Askari Bank 6427 8.43 17.37 17.94 17.21 17.70 0.33 975526 18.10 14.50 - - - -

Bank Alfalah 13492 14.26 11.22 11.36 11.10 11.12 -0.10 963644 11.52 8.70 - - - -

Bank AL-Habib 7322 8.06 37.23 37.68 37.10 37.40 0.17 151223 37.74 31.44 - - - -

Bank Of Khyber 5004 5.61 4.12 4.35 4.08 4.21 0.09 4608 4.70 2.57 - - - -

Bank Of Punjab 5288 - 10.03 10.15 9.85 9.93 -0.10 954110 10.59 8.04 - - - -

BankIslami Pak 52801005.00 4.06 4.15 3.92 4.02 -0.04 186846 4.16 2.77 - - - -

Faysal Bank 7309 4.92 15.32 15.55 15.17 15.24 -0.08 172913 17.10 13.50 - 20B - -

Habib Bank Ltd 10019 7.81 124.98 126.06 124.69 124.99 0.01 376749 126.45 95.01 - - - -

Habib Metropolitan Bank 8732 8.72 28.56 28.98 28.15 28.50 -0.06 3001 29.28 18.02 - - - -

JS Bank Ltd 8150 - 2.50 2.54 2.43 2.45 -0.05 49208 3.00 2.25 - 66R - -

KASB Bank Ltd 9509 - 2.53 2.54 2.41 2.43 -0.10 5501 2.90 2.16 - - - -

MCB Bank Ltd 7602 10.02 226.16 227.99 223.80 225.99 -0.17 1247251 232.00 193.70 55 - - -

Meezan Bank 6983 10.41 19.64 20.30 19.60 19.68 0.04 390522 20.30 14.50 - - - -

Mybank Ltd 5304 - 2.79 2.93 2.56 2.65 -0.14 231917 3.10 1.90 - - - -

National Bank 13455 6.78 77.42 78.35 77.15 77.65 0.23 5484835 78.35 63.53 - - - -

NIB Bank 40437 - 2.96 3.30 2.98 3.17 0.21 12706986 3.30 2.59 - - - -

Samba Bank 14335 - 2.00 2.06 1.98 2.06 0.06 157724 2.65 1.51 -63.46R - -

Silkbank Ltd 26716 - 2.77 2.83 2.70 2.81 0.04 4092468 3.04 2.50 - - - -

Soneri Bank 6023 - 7.95 7.99 7.77 7.80 -0.15 9183 8.48 5.61 - - - -

Stand Chart Bank 38716 13.29 8.51 8.70 8.50 8.64 0.13 4052 9.04 6.15 - - - -

Summit Bank Ltd 5000 - 3.81 3.88 3.72 3.81 0.00 161661 4.23 2.60 - - - -

United Bank Ltd 12242 7.89 66.53 67.60 66.20 67.15 0.62 1651016 70.65 52.00 10 - - -

Paid up Last 60 days 2010 2011

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

782.13 795.35 778.21 785.61 3.48 0.44

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

1,640,167 - - 11,111.34 mn 48,506.59 mn 785.61

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

12.54 0.65 5.20 79.54 6.34 757.87

Adamjee Insurance 1237 25.77 87.73 89.80 88.10 88.91 1.18 1285399 91.75 65.55 10 - - -

Paid up Last 60 days 2010 2011

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

1,570.26 1,582.90 1,556.38 1,563.94 -6.32 -0.40

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

153,498 - - 12,202.80 mn 33,454.42 mn 1,570.26

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

9.99 1.14 11.41 66.79 6.69 1,486.21

Sui North Gas 5491 8.18 27.57 27.75 27.41 27.48 -0.09 67804 34.75 25.71 20 - - -Sui South Gas 8390 3.30 21.99 22.19 21.75 21.89 -0.10 85694 30.23 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

1,327.32 1,346.25 1,318.88 1,326.22 -1.10 -0.08

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

9,616,222 - - 95,369.29 mn 108,918.82 mn 1,331.36

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

14.94 1.40 9.35 104.13 6.97 1,277.14

Genertech 198 - 0.89 0.94 0.83 0.85 -0.04 10008 1.45 0.60 - - - -Hub Power 11572 6.97 37.98 38.38 37.90 38.05 0.07 339041 38.38 32.97 50 - - -Japan Power 1560 - 1.75 1.75 1.66 1.73 -0.02 64065 2.25 1.30 - - - -KESC 7932 - 3.14 3.35 3.11 3.16 0.02 4242221 3.55 2.00 - 7.8R - -Kohinoor Energy 1695 10.99 20.81 20.75 19.77 19.78 -1.03 15743 25.25 17.95 15 - - -Kohinoor Power 126 2.80 4.55 4.60 4.60 4.60 0.05 240 5.69 4.01 - - - -Kot Addu Power 8803 5.20 43.01 43.40 42.55 42.79 -0.22 735550 43.40 38.35 50 - - -Nishat Chunian Power Ltd 3673 3.74 17.01 17.50 16.80 17.07 0.06 2858309 17.50 11.25 - - - -Nishat Power Ltd 3541 27.90 17.38 17.61 17.20 17.30 -0.08 1119537 17.75 12.30 - - - -S G Power 178 - 1.20 1.19 0.70 1.00 -0.20 3010 1.69 0.37 - - - -Southern Electric 1367 - 2.20 2.25 2.16 2.21 0.01 228282 2.80 2.05 - - - -Tri-star Power XD 150 - 1.00 1.09 1.00 1.05 0.05 188 1.75 0.65 - - - -

Paid up Last 60 days 2010 2011

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

1,148.29 1,161.53 1,124.53 1,147.68 -0.61 -0.05

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

6,311,314 - - 50,077.79 mn 79,381.43 mn 1,150.11

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

6.15 0.79 12.84 62.56 10.17 1,136.04

Pak Datacom 78 4.88 79.00 80.00 78.50 79.00 0.00 2661 106.00 76.50 80 - - -Pakistan Telecomm Co A 37740 13.00 19.52 19.70 19.10 19.50 -0.02 5738896 20.12 18.21 17.5 - - -Telecard 3000 0.65 2.19 2.24 2.15 2.17 -0.02 175566 2.69 2.10 1 - - -WorldCall Tele 8606 - 2.68 2.78 2.64 2.71 0.03 394191 3.45 2.40 - - - -Wateen Telecom Ltd 6175 - 3.55 3.60 3.52 3.54 -0.01 121825 4.25 3.35 - - - -

Paid up Last 60 days 2010 2011

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

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

Ask Gen Insurance 204 6.67 10.98 11.00 10.95 11.00 0.02 10594 12.75 10.00 - 25R - -

Atlas Insurance 369 6.12 38.12 39.20 37.51 38.50 0.38 1929 39.90 28.81 - - - -

Century Insurance 457 7.34 11.68 11.89 11.65 11.75 0.07 1701 12.00 9.45 - - - -

EFU General Insurance 1250 - 43.19 43.50 42.25 42.62 -0.57 66151 48.63 35.00 - - - -

Habib Insurance 400 3.56 14.62 15.00 14.94 14.94 0.32 2000 15.39 10.04 - - - -

IGI Insurance 718 17.29 94.00 95.48 92.00 93.21 -0.79 2933 99.88 72.01 10 20B - -

Pak Reinsurance 3000 41.92 16.30 16.50 16.22 16.35 0.05 249176 17.20 13.61 - - - -

Premier Insurance 303 6.75 12.30 12.85 12.25 12.48 0.18 15674 12.85 8.00 - - - -

Reliance Insurance XB 252 4.05 6.60 6.60 6.60 6.60 0.00 972 7.70 6.15 - - - -

Shaheen Insurance 200 - 13.30 14.20 13.00 13.44 0.14 2999 14.53 11.65 - - - -

Silver Star Insurance 253 4.23 7.00 7.23 6.81 6.81 -0.19 487 8.17 6.01 - - - -

UP TO 100 VOLUME

FANM 3.00 3.25 3.25 3.25 0.25 100

NJICL 58.03 58.25 58.25 58.25 0.22 100

ICCT 1.74 1.60 1.59 1.59 -0.15 100

SAPT 104.00 109.00 109.00 109.00 5.00 100

MEHT 60.00 60.00 60.00 60.00 0.00 98

WAZIR 7.68 8.40 8.40 8.40 0.72 90

RMPL 2032.01 2118.95 2032.00 2090.30 58.29 86

GAMON 2.19 1.51 1.32 1.51 -0.68 74

NESTLE 2440.00 2499.99 2345.00 2471.66 31.66 69

HWQS 21.00 22.00 22.00 22.00 1.00 65

GATM 31.47 30.10 30.10 30.10 -1.37 50

UNIC 7.00 6.81 6.81 6.81 -0.19 48

FPJM 1.38 1.68 1.35 1.68 0.30 45

FZTM 410.83 415.00 402.00 413.61 2.78 45

ULEVER 4342.00 4375.00 4202.00 4353.80 11.80 44

CLOV 73.51 76.50 69.84 74.00 0.49 43

KOSM 0.96 1.58 1.30 1.30 0.34 39

PGCL 23.70 24.78 24.69 24.70 1.00 37

SHCM 9.05 10.05 10.00 10.00 0.95 32

FECS 48.99 51.40 46.55 46.55 -2.44 31

FRCL 1.78 2.24 1.75 1.90 0.12 30

NOPK 23.95 24.79 24.79 24.79 0.84 29

SIEM 1210.00 1234.90 1229.99 1234.90 24.90 24

SHJS 65.31 62.05 62.05 62.05 -3.26 22

UPFL 1101.00 1111.00 1100.00 1110.45 9.45 20

TSBL 2.74 3.25 1.74 3.25 0.51 18

BAFS 59.00 61.40 60.00 61.40 2.40 18

SEL 18.70 18.95 18.95 18.95 0.25 18

PSEL 167.99 170.00 159.60 159.60 -8.39 14

SHTM 0.49 0.49 0.48 0.49 0.00 12

NBF 3.70 3.85 3.50 3.85 0.15 11

FNEL 8.46 8.69 8.69 8.69 0.23 10

PRWM 14.85 15.30 15.30 15.30 0.45 10

LAKST 293.00 302.00 282.01 298.48 5.48 10

IDEN 13.88 13.50 13.50 13.50 -0.38 10

ASFL 5.00 4.00 4.00 4.00 -1.00 9

TOWL 5.21 4.90 4.90 4.90 -0.31 9

FIBLM 1.98 2.88 1.62 2.85 0.87 8

HAL 12.10 12.10 12.10 12.10 0.00 8

SCL 95.24 95.24 95.24 95.24 0.00 8

SNAI 46.80 48.45 46.50 47.06 0.26 7

SMTM 5.99 5.99 5.55 5.99 0.00 7

AACIL 3.40 3.44 3.15 3.37 -0.03 7

MODAM 1.33 1.55 1.55 1.55 0.22 5

BUXL 13.70 13.80 13.80 13.80 0.10 5

FECM 2.77 3.24 3.05 3.20 0.43 4

TATM 36.57 37.50 35.00 37.45 0.88 4

ADMM 23.03 24.00 22.50 22.90 -0.13 4

WYETH 1096.00 1050.00 1050.00 1050.00 -46.00 4

SFWF 5.01 6.01 6.01 6.01 1.00 3

PIL 8.80 9.40 8.02 8.99 0.19 3

CWSM 1.25 1.64 1.39 1.39 0.14 3

HMIM 1.05 1.10 0.97 1.10 0.05 3

MUKT 0.57 0.82 0.64 0.82 0.25 3

YOUW 1.65 1.73 1.73 1.73 0.08 3

REWM 9.39 9.34 9.01 9.01 -0.38 2

DNCC 2.51 3.39 3.39 3.39 0.88 2

MUREB 91.25 92.99 92.99 92.99 1.74 2

TSMF 1.34 1.49 1.49 1.49 0.15 1

ALICO 18.49 17.50 17.50 17.50 -0.99 1

UVIC 3.82 3.99 3.99 3.99 0.17 1

IDRT 3.64 3.65 3.65 3.65 0.01 1

QUET 38.01 39.91 39.91 39.91 1.90 1

KOHS 4.37 5.34 5.00 5.00 0.63 1

JOPP 8.70 8.00 8.00 8.00 -0.70 1

ARPAK 13.90 12.90 12.90 12.90 -1.00 1

DIIL 13.82 12.82 12.82 12.82 -1.00 1

PHDL 36.76 34.93 34.93 34.93 -1.83 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

FFBL-JAN 37.39 39.05 37.15 38.64 1.25 2,104,500

POL-JAN 319.52 323.00 316.00 321.19 1.67 1,784,500

ENGRO-JAN 199.38 204.00 198.00 202.78 3.40 752,500

NML-JAN 67.29 68.20 66.71 68.05 0.76 711,000

NBP-JAN 77.92 78.69 77.51 78.08 0.16 621,500

DGKC-JAN 30.44 30.70 30.00 30.58 0.14 415,000

FFC-JAN 131.44 133.90 131.49 132.77 1.33 192,000

ANL-JAN 9.57 9.79 9.61 9.63 0.06 180,000

PSO-JAN 297.09 300.94 295.50 298.22 1.13 157,000

MCB-JAN 226.96 228.00 224.50 226.89 -0.07 121,500

PPL-JAN 226.47 227.65 224.00 226.38 -0.09 111,500

UBL-JAN 66.93 67.80 66.85 67.33 0.40 63,000

OGDC-JAN 178.45 180.50 177.12 180.22 1.77 50,500

AICL-JAN 88.05 90.00 88.80 89.49 1.44 48,000

NCL-JAN 23.82 24.15 23.82 24.13 0.31 12,500

NETSOL-JAN 20.20 20.10 20.10 20.10 -0.10 10,000

BOP-JAN 10.10 10.25 9.90 9.90 -0.20 8,000

LUCK-JAN 75.50 75.80 75.22 75.57 0.07 6,500

PTC-JAN 19.50 19.35 19.31 19.33 -0.17 1,000

Symbols Open High Low Close Change Vol

ZERO VOLUME

ALQT 7.00 7.50 7.50 7.50 0.50 -

MQTM 8.50 8.75 8.75 8.75 0.25 -

SHDT 13.68 13.60 13.60 13.60 -0.08 -

FASM 33.00 33.01 33.01 33.01 0.01 -

KHTC 32.76 34.39 34.39 34.39 1.63 -

Symbols Open High Low Close Change Vol

Adamjee Insurance 60.87 88.10 87.25 89.80 90.65 88.95

Al-Abbas Cement 52.71 3.20 3.05 3.50 3.60 3.30

Allied Bank Limited 73.08 71.45 71.05 72.15 72.45 71.75

Arif Habib Corp 62.25 26.05 25.50 27.00 27.40 26.45

Arif Habib Limited 48.40 25.70 25.40 26.40 26.75 26.10

Askari Bank 61.79 17.30 16.90 18.05 18.35 17.60

Attock Cement 49.97 62.25 61.65 63.15 63.45 62.55

Attock Petroleum 68.26 341.10 338.60 346.55 349.50 344.05

Attock Refinery 64.73 128.80 126.95 132.10 133.55 130.25

Azgard Nine 40.17 9.50 9.40 9.75 9.90 9.65

Bank Al-Falah 58.91 11.00 10.95 11.30 11.45 11.20

Bank.Of.Punjab 54.35 9.80 9.70 10.10 10.30 10.00

BankIslami Pak 73.13 3.90 3.80 4.15 4.25 4.05

D.G.K.Cement 55.31 30.00 29.50 30.80 31.10 30.30

Dewan Cement 51.71 2.15 2.10 2.35 2.45 2.25

Dewan Salman 60.89 3.20 3.15 3.40 3.45 3.30

Dost Steels Ltd 39.47 2.60 2.55 2.70 2.75 2.65

EFU General Insurance 42.15 42.10 41.55 43.35 44.05 42.80

EFU Life Assurance 45.91 73.55 72.65 75.15 75.85 74.25

Engro Chemical 64.10 198.00 194.40 204.15 206.80 200.60

Fauji Cement 47.72 4.95 4.85 5.10 5.20 5.05

Fauji Fert Bin 68.17 37.35 36.20 39.20 40.00 38.10

Fauji Fertilizer 76.21 130.55 128.95 133.30 134.45 131.70

Faysal Bank 53.90 15.10 14.95 15.45 15.70 15.30

Habib Bank Ltd 67.56 124.45 123.90 125.80 126.60 125.25

Hub Power 66.04 37.85 37.65 38.30 38.60 38.10

ICI Pakistan 69.05 149.10 147.85 152.05 153.75 150.80

Indus Motors 57.89 256.05 252.75 264.30 269.25 261.00

J.O.V.and CO 51.46 3.95 3.90 4.15 4.25 4.05

Jah Siddiq Co 44.21 10.95 10.85 11.20 11.35 11.10

Japan Power 50.87 1.65 1.60 1.75 1.80 1.70

JS Bank Ltd 39.48 2.40 2.35 2.50 2.60 2.45

K.E.S.C 65.52 3.05 2.95 3.30 3.45 3.20

Kot Addu Power 71.65 42.40 42.05 43.25 43.75 42.90

Lotte Pakistan 73.09 14.60 14.50 14.90 15.10 14.80

Lucky Cement 49.16 74.80 74.50 75.50 75.90 75.20

Maple Leaf Cement 44.29 2.80 2.75 2.95 3.00 2.90

MCB Bank Ltd 60.87 223.85 221.75 228.05 230.10 225.95

National Bank 71.22 77.10 76.50 78.30 78.90 77.70

Netsol Technologies 69.21 19.90 19.60 20.40 20.60 20.10

NIB Bank 61.76 3.00 2.85 3.30 3.45 3.15

Nimir Ind.Chemical 56.34 1.90 1.80 2.20 2.35 2.05

Nishat (Chunian) 60.01 23.40 23.20 24.00 24.35 23.80

Nishat Mills 71.53 66.85 65.55 69.15 70.10 67.80

Oil & Gas Dev. XD 80.69 178.15 175.60 182.10 183.50 179.55

P.I.A.C.(A) 54.46 2.35 2.30 2.50 2.55 2.45

P.S.O. XD 63.03 293.90 291.20 299.35 302.10 296.65

P.T.C.L.A 54.12 19.15 18.85 19.75 20.05 19.45

PACE (Pakistan) Ltd. 29.52 2.35 2.25 2.60 2.75 2.50

Pak Oilfields 78.67 316.90 312.05 324.65 327.60 319.85

Pak Petroleum 72.55 223.15 220.60 228.15 230.60 225.60

Pak Suzuki 55.46 71.20 70.35 72.65 73.25 71.80

Pervez Ahmed Sec 44.02 2.00 1.95 2.15 2.20 2.05

Pioneer Cement 51.88 6.90 6.85 7.05 7.10 7.00

Shell Pakistan 56.63 205.95 204.95 207.95 208.95 206.95

Sitara Peroxide 46.15 13.00 12.90 13.35 13.55 13.20

Sui North Gas 48.79 27.35 27.20 27.70 27.90 27.55

Sui South Gas 52.82 21.70 21.50 22.15 22.40 21.95

Telecard 42.08 2.15 2.10 2.25 2.30 2.20

TRG Pakistan 26.61 3.25 3.15 3.45 3.55 3.35

United Bank Ltd 61.21 66.35 65.60 67.75 68.40 67.00

WorldCall Tele 45.40 2.65 2.55 2.80 2.85 2.70

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

J.K. Spinning Mills Ltd 08-Jan 10.00

Bawany Sugar Mills Ltd 08-Jan 10.00

Punjab Oil Mills Limited 08-Jan 11.00

Dandot Cement Company Ltd 08-Jan 4.30

Media Times Ltd 10-Jan 3.00

Tandlianwala Sugar Mills Ltd 10-Jan 5.00

Abdullah Shah Ghazi Sugar 10-Jan 4.00

Atlas Income Fund 11-Jan 2.15

Nadeem Textile Mills Ltd 11-Jan 5.00

Fauji Fertilizer Bin Qasim Ltd 25-Jan 10.30

Unilever Pakistan Limited 14-Feb 2.30

Kot Addu Power Company Ltd 16-Feb 12.30

Unilever Pakistan Foods Ltd 17-Feb 2.30

BOARD MEETINGS

Company Date Time

Saturday, January 8, 2011 8

I have brokenthe size-zeromould, says

Sonakshi

The trend of having sizezero figures and surfboard abs is fast witness-

ing a decline in bollywood.Thanks to Sonakshi Sinha'slook in her debut filmDabangg, the Indian womanwith her curvaceous, wellrounded and voluptuous look isin vogue again.

Though her rustic, Indianattired look was neverdesigned to unleash a fashioncoup, but eventually it hasdone so. Gone are the dayswhen size zero was the stan-dard evaluation of a heroinestotal worth, Sonakshi Sinhaseems to have undone thattrend. And the actress has noqualms about taking credit forthis new trend.

Speaking about bringing theIndian woman back as an idealsex symbol, Sonakshi says,"People have told me they arehappy that the full-figuredIndian heroine is back. I havebroken the size zero mould. Idon't agree with the concept ofbeing stick thin. At the end ofthe day, Indian men wantwomen who are well-rounded,voluptuous and curvaceous,someone they can hold."

Jolie, Pittdonate $2mn

to Africanwildlife

Angelina Jolie and Brad Pittare donating $2 million to theNamibian sanctuary where theyspent Christmas with their kids.

The donation to theNaankuse Lodge and WildlifeSanctuary was made throughthe Jolie-Pitt Foundation in thename of their daughter Shiloh,who was born in Namibia.

In a statement releasedMonday, Angelina said "Wewant her to be very involvedand grow up with the under-standing of her country ofbirth."

Angelina said the owners ofthe sanctuary are old friends."We continue to be impressedby their hard work and dedica-tion to the people and conser-vation of the land and wildlifeof Namibia," she said.

The family spent Christmastogether at the lodge, wherestaff say the children helped tofeed and care for orphanedbaby baboons and foxes andsaw a leopard released backinto the wild.

Thai actionguru forSalmanstarrer

Bhushan Kumar's Readypromises action and entertain-ment. The makers have ropedin world renowned Thai actiondirector Seelum Pradit akaNung who has earned laurelsinternationally thanks to hiswork in Mountain Tiger,Treasure Island, Rescue Dawn,The Magnificient Five andMarine 2 to work on the filmstarring Salman Khan.

Along with Indian actiondirector Mahendra Verma theThai action team, spearheadedby Seelum Pradit, are workingtowards achieving internation-al levels of action sequences.

Says a source "The Thaiaction team are experts in rig-ging, flying effects and HighEnd stunts. They also under-stand the Indian sensibilitiesand the kind of action thatwould appeal to our massessince Pradit has also worked onthe Thumps Up ads. Salmanfans are in for a treat since theywill witness him in a uniqueaction avatar on par interna-tional standards."

Salman Khan not onlyrocked the box officewith his blockbuster

"Dabangg" but also triumphedat the 17th Annual Star ScreenAwards by bagging the bestactor trophy for the action-comedy. Vidya Balan walkedaway with best actress awardfor her bold and criticallyappreciated performance inVishal Bhardwaj's "Ishqiya".

Overall, "Dabangg" baggedsix awards, including bestmusic (Sajid-Wajid), best newtalent in music (MamtaSharma), most promising new-comer (Sonakshi Sinha), bestchoreography ( Farah Khan )),and best action (MasterVijayan) and emerged as themost awarded film of theevening.

However, the surprise ele-ment was the tie between"Ishqiya", "Band Baaja Baraat"and small budget film "Udaan"- all three received four awardseach.

"Ishqiya" also won best sup-porting actor for Arshad Warsi,best male playback singer forRahat Fateh Ali Khan and best

lyricist for Gulzar. "Udaan"was the winner in categorieslike best film, best director forVikramaditya Motwane andbest actor in negative role forRonit Roy and best child artistefor Ayaan Barodia.

"Band Baaja Baraat" grabbedmost promising male newcom-er for Ranveer Singh, mostpromising debut director forManeesh Sharma, best dia-logue for Habib Faisal and bestediting for Namrata Rao.

Apart from this, the popularchoices awards were bagged byShah Rukh Khan and KatrinaKaif for best actor and bestactress respectively.

Ramnath Goenka MemorialAward was bestowed upon"My Name Is Khan" and a spe-cial jury award for spectacularcutting-edge technology wasgiven to "Robot" at the galaevent Friday evening.

Star Screen Awards 2011

Salman, Vidyawin top honours

MUMBAI: Bollywood star Sunny Deol and Dharmendra attend a press conference as partof the launch of their forthcoming movie 'Yamla Pagla Deewana'.-Reuters

If kissing for the cameraswas Rani Mukerji andVidya Balan's prelude to

show that all is well betweenthe two reported warring co-stars of No One Killed Jessica(NOKJ), on the premiere nightthey made sure that they rub-bished any gossip that might befloating in the air by choosingto dress up in identical colours.

Amitabh Bachchan lookeddapper in white and Rekhasported her shades at night!

Vidya was seen introducingnewcomer Myra Kam as hersister. Kalki Koechlin lookedstunning in a sari, but the babeof the night was SophieChoudry looking sassy in herblue ensemble.

Randeep Hooda was spottedafter a long time. Tisca Chopra,Divya Dutta, Aarti Chhabria,Shazahn Padamsee (her lips arepouting more these days,wink!) with Alyque Padamseewere all welcomed by Rani andVidya as Ronnie Screwvalamade sure the event was a hit!

Yash Chopra too came to sup-port Rani (to be bahu soon,isn't that the gossip?).

Raju Hirani, RakeyshOmprakash Mehra, PradeepSarkar, Subhash Ghai, SudhirMishra with Arunoday Singh,Kumar Taurani represented thefilmmakers community. ParvinDabas walked in with PreetiJhangiani. Anjana Sukhani waslike Alice in Wonderland. Lostand also got her look all wrongfrom hairband to her shoes.Missing school are we Anjana?Admissions open in June!

NOKJ screeningin Mumbai

Cage incrusadethriller

Nicolas Cage is work-ing hard because hehas to, but his latest

turn as a mediaeval knight in"Season of the Witch" isabout more than just payingthe bills -- it is a welcomethrowback to his childhood.

The supernatural thriller setin plague-stricken 14th cen-tury Europe opens in Britishand U.S. theatres on Friday,and Cage fans will see the"Leaving Las Vegas" star inthe unfamiliar surroundingsof a period drama.

"For some reason I kind ofgot swept up in a certain

modern and contemporarystyle of acting and drama,like 'Bad Lieutenant'," the46-year-old Oscar winnertold Reuters in a recent inter-view to discuss the film.

Season of the Witch fol-lows "Bad Lieutenant: Portof Call New Orleans,"Werner Herzog's cop dramain which Cage plays the kindof emotionally intense, bor-derline unhinged characterfor which he has won mostacclaim.

"This (Season of the Witch)was my first chance to reallygo into the source, the child-hood.

"When I was living inCalifornia ... my father builtthis wooden castle for me asa boy and I remember I real-ly got in touch with my imag-ination there -- I was a sor-cerer or I was a knight andbecause of the castle ... mymind would automatically gotoward mediaeval things."

Another reason for takingon the role of the war-wearyCrusader Behmen was achange of scenery from thestifling Louisiana interiors ofBad Lieutenant. Season ofthe Witch took the cast andcrew to Hungary and theAustrian Alps.

2011 is expected to seeAamir Khan dominate the sil-ver screen as the actor-produc-er has two of his home produc-tions lined up for release in thefirst half while his other ven-tures starring Rani Mukherjiand Kareena Kapoor is slatedto hit the screens in the laterpart.

Aamir Khan Productions'Dhobi Ghat which marks thedirectorial debut of his wifeKiran Rao releases on January21. This weekend is extremelyspecial for Aamir as it is thisday that 'Rang De Basanti'released.

Starring Aamir Khan,Prateik, Monica Dogra andKriti Malhotra, Dhobi Ghat(Mumbai Diaries) is the quietand stirring story of four char-acters bound together as theygo through a journey of long-ing, loneliness, love and loss.

Aamir's Delhi Belly willrelease in summer. StarringImran Khan, Vir Das, KunalRoy Kapur and ShehnazTreasurywala, it is directed bydebutant Abhinay Deo.

Delhi Belly is Aamir KhanProductions first English filmand the actor who launchedImran in Jaane Tu Ya Jaane Na,come back with Delhi Belly.

Aamir's next, an untitledventure directed by ReemaKagti marks the comingtogether of the Dil Chahta Haiteam, with Aamir Khan,Farhan Akhtar and Ritesh

Siddhwani.The film is a suspense thriller

and one of the most awaitedfilms of the year 2011, withaudiences and Bollywoodalike, awaiting, to see Aamir'snext especially since his lasttwo movies 3 Idiots andGhajini were the biggest hits ofrecent times.

The Aamir-Rani-Kareenastarrer goes on floors inFebruary 2011 and releases thesame year.

For Abhishek Bachchan whohad a disastrous Raavan andKhelein Hum Jee Jaan Se in2010, the new year will be achallenge with ExcelEntertainment's Game hittingthe screens on March 18 andFox Star Studio's Dum MaroDum releasing on April 22where he plays a narcotics copfrom Goa.

Director Rohan Sippy saysDMD is an edgy, coming ofage, cop caper, with Goa play-ing a full-fledged character,and has lot of thriller elementsthrown in. Apart fromAbhishek, Bipasha Basu andRana Daggubati play importantroles.

Game will be debutantedirector Abhinay Deo's secondmovie after Delhi Belly. Hesays the film is an edge of theseat thriller with jaw droppingaction sequences. Filmedextensively in Greece,Abhishek is paired oppositeSarah Jane.

Vidhu Vinod Chopra's nextFerrari Ki Sawaari starringSharman Joshi is directed bydebutante Rajesh Mapuskar, aprotege of Rajkumar Hirani.Hirani is currently busy script-ing the film which goes onfloors in March and releaseslater this year.

Patiala House will be AkshayKumar's first release of 2011on February 11. The movie hasan eclectic cast, that boasts of ahuge household. Leading thepack are Akshay Kumar,Anushka Sharma, RishiKapoor, Dimple Kapadia, HardKaur and Soni Razdan.Directed by Nikhil Advani,'Patiala House' is about a fami-ly that is still ruled over by thehead patriarch, and have allthree generations living togeth-er.

Reliance Pictures's releasesthis year include DoubleDhamaal, Don 2, Bodyguardand remake of Tamil filmSingum to be directed by RohitShetty and Ajay Devgn.

Double Dhamaal starringSanjay Dutt, Arshad Warsi,Riteish Deshmukh, JavedJaffry, Mallika Sherawat,Kangana Ranaut and AshishChowdhary is directed byIndra Kumar and a sequel toDhamaal.

Tigmanshu Dhulia's thrillertentatively titled Shagird star-ring Nana Patekar, Rimi Senand Mohit Ahlawat releases inFebruary-March 2011.

2011 looks to beAamir Khan’s year

Fantasy, fantasy and more fanta-sy - Indian audiences swoonedto the Hollywood mojo in 2010

thanks to their penchant for out-of-the-world experiences with a dash ofaction.

Below is the list of top imports thatgrossed their way to success in 2010:

1. "Inception" : Mindbender - oneword that aptly describes the sci-fientertainer that took the world by

storm and why not when it comesfrom a mind that is equally complexyet brilliant - Christopher Nolan.Watch it once, twice, thrice beforeyou shake your head in frenzy andsuccumb to the masterpiece. WithLeonardo DiCaprio in the lead, itraked in Rs.33 crore in India acrossfour languages - English, Hindi,Tamil and Telugu.

2. "Harry Potter and the DeathlyHallows: Part I": The penultimatesequel to one of the most successful

wizard franchises the world has seen.With an established fan base that isoutnumbered with every new sequel,this one was sure to draw footfall.Released across English, Hindi, Tamiland Telugu, it grossed Rs.30 crore(about $6.6 million).

3. "Prince of Persia: The Sands ofTime": Remember the after-schooltimepass video game of the samename? Well, this big screen retellingbrought out the sword-and-sorceryaction from the blurry computer

screen in live action to make Rs.28crore. While Jake Gyllenhaal tookcentrestage as Prince Dastan, GemmaArterton enacted the lovely PrincessTamina and the very own Sir BenKingsley donned the evil Nizam'srobe to conquer time.

4. "The Chronicles of Narnia:Voyage of the Dawn Treader ": It was

another epic 3D fantasy-adventurethat had kids transported to their bed-time story world. Hitting the Indianscreens in four languages a weekbefore its worldwide release, it didn'ttake time to make Rs.23 crore and isstill running.

5. "Clash of the Titans": You sawhim as an "Avatar" before he becamea part-human part-android MarcusWright in "Terminator Salvation."And this one just required you to weara pair of 3D glasses to see SamWorthington as a demi-god. A remakeof the 1981 film of the same name,

the Greek fantasy-adventure cashedin Rs.22 crore.

6. "Salt": Confess it, you will watchwhatever she does and this one had tobe seen as Angelina The Jolie was

going to jump flyovers and assassi-nate political bigwigs in her secretmission as a blonde Russian sleeperagent Evelyn Salt in the US. A femalespin to the "Mission: Impossible"series, it did make one fall in lovewith the beauty again. For the collec-tions, how does it matter even if itmade Rs.16.5 crore?

7. "Knight and Day": Tom Cruisejust won't stop playing a spy. No.Even if it means drifting to an outingwith the now rapidly aging CameronDiaz before buckling up for his fourth"Mission: Impossible" movie. Havingreleased in English and Hindi, theaction-adenture earned Rs.16 croreonly because of its 'associative' value- after all it was a Bollywood filmwith Hollywood stars!

8. "Iron Man 2": Robert Downey,Jr., Gwyneth Paltrow and the come-back kid Mickey Rourke. Man, whatelse does one need in a metal clankingsuperhero flick? The answer isScarlett Johansson as an undercoverspy in body hugging leather suit! Notquite living up to its buzz, the moviemanaged Rs.15.5 crore leaving audi-ences wanting for much and for more.

9. "The Karate Kid": Star sons don'twork in Bollywood alone. They do inHollywood too and how! If his fatherWill Smith has been voted as the mostdependable star, the son in his lankymeek form is no less. Cute as per his12-year-old looks, intelligent andlethal courtesy a trainer like JackieChan and with acting chromosomesoverlapped across his DNA, JadenSmith did what veterans could not -command an ovation. A reboot of the1984 film by the same name, don't goby the earnings of this one which wasa modest Rs.13.5 crore. Go by thename!

10. "Resident Evil: Afterlife"/" TheA-Team ": Breaking into a tie withRs.11.5 Crore each, the two didn't lagbehind in making a mark in the Indianterrain. "Afterlife", the fourth part inthe sci-fi action series, saw MillaJovovich in a mission to save human-ity from a virus with her numerousclones while "The A-Team", an actionouting, was simply a boy's delightwith cigars, guns and panache.

Fantasy movies’ magic in 2010

LONDON: Copper eased butstill recovered from two-weeklows on Friday, supported bya weaker dollar and expecta-tions of stronger demand thisyear from top consumerChina and other industrialmarkets.

Benchmark copper on theLondon Metal Exchangeclosed at $9,425 a tonne,compared with $9,470 atThursday's close.

The metal used in powerand construction had earlierfallen to $9,300 an ounce, itslowest since Dec. 24, on talkof tighter monetary policy inChina and the United Statesand a stronger dollar. But itrecouped losses after a USreport showed weaker-than-expected jobs growth.

Copper initially extendedlosses after the data but thenpared them back as the eurorecovered from a near four-month low against the dollar.

Earlier in the week the dol-lar strengthened after a reportshowed strong growth in pri-vate sector job creation andtriggered speculation oftighter monetary policy in theUnited States, the world'slargest economy.

Also weighing on copper

was the prospect of commod-ity index rebalancing, whichcould see large sales of cop-per after gains of more than

30 per cent last year.The Dow Jones-UBS

Commodity Index andStandard & Poor's S&P GSCIindex, tracked by funds withabout $160 billion in com-bined assets under manage-ment according to figuresfrom Mitsubishi Corp, willrebalance to new weights Jan.7-13.

"This may only have a tem-

porary effect, but it does addto the negativity," an LMEfloor trader said.

He added that rising stocksin LME warehouses were onthe radar, "but the focus isstill on the large drop lastyear".

Stocks of copper in LondonMetal Exchange warehousesat 379,525 tonnes are downmore than 30 per cent sincethe middle of February. Butsince Dec. 9, they haveincreased by more than 8 percent. Battery material leadclosed at $2,649 a tonne from$2,656 a tonne at the close onThursday, when the batterymaterial touched $2,712.75 atonne, its highest since May2008 on concern about sup-plies from Australia.

Aluminium closed flat at$2,518 a tonne. Zinc was at$2,445 a tonne from $2,455,tin was at $26,450 from$26,180 and nickel closed at$24,200 from $24,550 onThursday. -Reuters

Copper eases on USDafter American jobs data

9Saturday, January 8, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1320 1260

January (3rd Wednesday) 1320 1260

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for January 06 2011

LME Official Prices, US$ per tonne for January 06 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2300 2469.5 9590 2702 24870 26645 2445 2370

Cash seller 2305 2470 9591 2703 24875 26650 2446 2380

3-months buyer 2255 2479 9571 2676 24855 26590 2452 2380

3-months seller 2265 2480 9572 2676.5 24860 26595 2452.5 2390

15-months buyer 2210 2538 9285 2590 24360 26075 2470 2405

15-months seller 2220 2543 9295 2595 24460 26125 2475 2415

27-months buyer 2210 2573 8865 2543 23585 2442 2460

27-months seller 2220 2578 8875 2548 23685 2447 2470

LONDON METAL EXCHANGE (METALS)

LONDON: US crude oilfutures rose above $89 a barrelin volatile trade on Friday asthe Federal Reserve ChairmanBen Bernanke made cautiouslyoptimistic comments about arecovery, after data showed USunemployment rate fell.

"We have seen increased evi-dence that a self-sustainingrecovery in con-sumer and busi-ness spendingmay be takinghold," the centralbank chief said inhis first testimo-ny to Congresssince the Fedlaunched a controversial planto buy an additional $600 bil-lion in government bonds.

The remarks followed datashowing the US labour marketcreated 103,000 new jobs inDecember, below analysts'forecasts for 175,000.

US crude futures rose 74cents to $89.12 a barrel by1510 GMT, after reversinglosses that followed the jobsdata. "The employment data isdisappointing, especially inlight of the enthusiasm thatemerged earlier in the week on

the ADP employment data,"John Kilduff, partner at AgainCapital LLC in New York said.

"However, the decideddowntick in the unemploymentrate is reassuring. In terms ofenergy prices, more robustemployment gains are neces-sary to sustain the price levelsseen of late. Unemployment

remains at a level that willchallenge the ability of $3.00-plus per gallon gasoline to per-sist," he added.

In a rare market move, theprice of Brent and US crudefutures went in opposite direc-tions during the trading ses-sion.

February Brent crude con-tracts were 35 cents up at$94.17 a barrel by 1512 GMT,having tested highs of $96.17 abarrel during a rally this weekon the back of index rebalanc-ing.

Analysts said the price dif-ferential between Brent andUS crude contracts -- alsoknown as West TexasIntermediate (WTI) --remained exceptionally highand should tighten over thecoming weeks.

"It seems WTI prices havefound a bottom, and the huge

price differen-tial betweenBrent andWTI, the high-est since 2009,looks exces-s i v e , "Commerzbankanalyst Carsten

Fritsch said."The price differential should

narrow, meaning Brent shoulddecline and WTI increase some-what in the coming weeks." UScrude prices have had a turbulentfirst week of the year, seesawingin a range of almost $5 between27-month highs of $92.58 a bar-rel on Monday and lows of$88.38 on Thursday.

Brent's premium over UScrude was at $5.14 per barrelby 1446 GMT, down slightlyfrom a seven-month high onThursday. -Reuters

US crude rises above$89, Bernanke testifies

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Friday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmillMay11/Jul11 1051.00-4.00,Aug11/Oct11 1053.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Feb11/Apr111105.00+0.00, May11/Jul111085.00-5.00, Aug11/Oct111008.00-7.00, Nov11/Jan121015.00-5.00, Feb12/Apr121020.00.

SUNOIL: EU dlrs tonneextank six ports optionFeb11/Mar11 1490.00-20.00,Apr11/Jun11 1460.00-10.00,Jul11/Sep11 1490.00-10.00,Oct11/Dec11 1380.00-20.00.

LINOIL: Any origin dlrstonne extank RotterdamJan11/Feb11 1340.00-15.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Jan111280.00-15.00, Feb11 1285.00-15.00, Mar11 1275.00-15.00,Apr11/Jun11 1255.00-15.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Feb11 1287.50,Mar11 1287.50, Apr11/Jun111277.50.

PALMOIL: RBD dlrs tonnefob Malaysia Feb11 1242.50-22.50, Mar11 1242.50-22.50,Apr11/Jun11 1232.50-20.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Feb111255.00-20.00, Mar111252.50-22.50, Apr11/Jun111240.00-22.50, Jul11/Sep111222.50-22.50.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamJan11/Feb11 1880.00-20.00,Feb11/Mar11 1860.00-30.00,Mar11/Apr11 1850.00-30.00,Apr11/May11 1840.00-30.00.

CASTOROIL: Any origindlrs tonne extank RotterdamFeb11/Mar11 1995.00+0.00. -Reuters

National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest

Date Quotation in lots Settlement Settlement in Lots

Price Price

7-Jan-2011 CRUDE100 FE11 US$ Per Barrel 89.90 90.17 87.90 88.95 427 88.54 88.95 92

7-Jan-2011 CRUDE100 MA11 US$ Per Barrel 91.25 91.34 89.27 90.10 91 89.81 90.10 34

7-Jan-2011 CRUDE100 AP11 US$ Per Barrel 91.50 92.31 91.50 91.02 1 90.85 91.02 4

7-Jan-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 29.02 29.40 28.35 28.48 385 28.92 28.48 112

7-Jan-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 29.05 29.05 28.50 28.50 - 28.94 28.50 -

7-Jan-2011 GOLD 01oz FE11 US$ Per Troy Ounce 1370.00 1376.50 1357.00 1358.50 1,530 1368.20 1358.50 1,379

7-Jan-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1371.10 1378.00 1358.00 1359.40 2,167 1369.00 1359.40 2,377

7-Jan-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1372.00 1378.00 1358.70 1360.30 1,932 1369.90 1360.30 1,316

7-Jan-2011 GOLD 100oz FE11 US$ Per Troy Ounce 1369.00 1375.30 1358.70 1358.50 20 1368.20 1358.50 10

7-Jan-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1370.80 1370.80 1359.40 1359.40 - 1369.00 1359.40 -

7-Jan-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1371.70 1371.70 1359.40 1359.40 - 1369.90 1360.30 -

7-Jan-2011 GOLD JA11 Per 10 grms 37785.00 37851.00 37502.00 37577.00 8 37793.00 37577.00 31

7-Jan-2011 GOLD FE11 Per 10 grms 37800.00 37860.00 37550.00 37586.00 9 37802.00 37586.00 23

7-Jan-2011 GOLD MA11 Per 10 grms 37874.00 37874.00 37600.00 37600.00 - 37816.00 37600.00 1

7-Jan-2011 KILOGOLD JA11 Per 10 grms 37823.00 37823.00 37549.00 37549.00 - 37765.00 37549.00 2

7-Jan-2011 KILOGOLD FE11 Per 10 grms 37832.00 37832.00 37558.00 37558.00 - 37774.00 37558.00 -

7-Jan-2011 TOLAGOLD50 JA11 Per Tola 44116.00 44116.00 43797.00 43797.00 - 44048.00 43797.00 -

7-Jan-2011 TOLAGOLD100 JA11 Per Tola 44116.00 44116.00 43797.00 43797.00 - 44048.00 43797.00 -

7-Jan-2011 MINIGOLD MON Per 10 grms 38896.00 38896.00 38606.00 38606.00 - 38824.00 38606.00 -

7-Jan-2011 MINIGOLD TUE Per 10 grms 38939.00 38939.00 38648.00 38648.00 - 38866.00 38648.00 -

7-Jan-2011 MINIGOLD WED Per 10 grms 38953.00 38953.00 38661.00 38661.00 - 38880.00 38661.00 -

7-Jan-2011 MINIGOLD THU Per 10 grms 38967.00 38967.00 38675.00 38675.00 - 38894.00 38675.00 -

7-Jan-2011 MINIGOLD FRI Per 10 grms 38882.00 38882.00 38689.00 38689.00 - 38908.00 38689.00 -

7-Jan-2011 TOLAGOLD MON Per Tola 45000.00 45000.00 44363.00 44363.00 4 44618.00 44363.00 12

7-Jan-2011 TOLAGOLD TUE Per Tola 45200.00 45200.00 44411.00 44411.00 6 44666.00 44411.00 8

7-Jan-2011 TOLAGOLD WED Per Tola 44814.00 44814.00 44426.00 44426.00 1 44682.00 44426.00 5

7-Jan-2011 TOLAGOLD THU Per Tola 45025.00 45025.00 44442.00 44442.00 15 44698.00 44442.00 17

7-Jan-2011 TOLAGOLD FRI Per Tola 44773.00 44773.00 44458.00 44458.00 2 44714.00 44458.00 1

7-Jan-2011 IRRI6W 13JA11 Per 100 kg 3380.00 3387.00 3380.00 3387.00 - 3380.00 3387.00 -

7-Jan-2011 RICEIRRI - 6 JA11 Per 100 kg 3393.00 3393.00 3392.00 3392.00 - 3393.00 3392.00 -

7-Jan-2011 RBD PALMOLEIN JA11 Per Maund 5371.00 5371.00 5244.00 5244.00 - 5371.00 5244.00 -

7-Jan-2011 KIBOR3M 11-Mar Per Rs. 100 86.21 86.22 86.21 86.22 - 86.21 86.22 -

7-Jan-2011 KIBOR3M 11-Jun Per Rs. 100 85.32 85.32 85.32 85.32 - 85.32 85.32 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

India sugardrops for4th day

MUMBAI: Indian sugar pricescontinued their losing streak for afourth consecutive day on Fridayon subdued demand, and highersupplies coupled with a drop inoverseas markets that depressedsentiments further, dealers said.

"Sharp drop in overseas mar-kets hurt sentiment. Lower inter-national prices will cut Indianexporter's profit," said a memberof the Bombay Sugar MerchantsAssociation (BSMA). New YorkMarch raw sugar slumped 6.1per cent to close at 30.24 centsper lb on Thursday, whileLondon March white sugar fin-ished down $27.70 at $748.20per tonne. India has allowedopen general licence exports of500,000 tonnes of sugar and theregistration for the quantity hasalready begun.

In Kolhapur, a key market intop-producing Maharashtra state,the most traded S-variety eased0.25 per cent to 2,804 rupees($61.76) per 100 kg.

At 4:29 pm, the most-traded Mgrade sugar contract for Januarydelivery on India's NationalCommodity and DerivativesExchange (NCDEX) was 1.14 percent lower at 2,864 rupees per100 kg, after hitting a contractlow of 2,861 rupees earlier in theday. -Reuters

ALJUSTREL - PORTUGAL: Miners prepare holes for explosives inside the copper mine of Aljustrel.

The mine, closed for years, was reopened in the summer in light of increasing copper prices. -Reuters

LONDON: Gold swung intopositive territory, recoveringfrom the six-week low it hit ear-lier on Friday, after a key USpayrolls report missed expecta-tions, sparking a retreat in thedollar.

Spot gold was bid at $1,376.55an ounce at 1605 GMT against$1,371.15 late in New York onThursday, having earlier toucheda low of $1,352.30 an ounce, itsweakest since Nov. 26.

The precious metal has record-ed some hefty losses this week,

but in the absence of a rising dol-lar it remains underpinned byuncertainty over the US recov-ery, the prospect of inflation inemerging markets, and concernover euro-zone sovereign debt.

"We still think there is supportfor gold out there," said DavidWilson, an analyst at SocieteGenerale. "There is a perceptionof growing inflationary pressureinto next year, which shouldremain supportive of gold."

"Our FX (team) are stillexpecting a weaker trend in thedollar to return, which againshould be supportive for gold,"he added. US gold futures forFebruary delivery rose $5.40 anounce to $1,377.10.

Notwithstanding a further rise,gold prices are still heading for

their biggest weekly loss sinceJuly last year, after a raft of bet-ter-than-expected US data thisweek. Elsewhere the head of theBombay Bullion Associationtold Reuters on Friday that goldimports to India, the world'slargest consumer, are likely tojump 64 per cent to 500-550tonnes in 2011, driven by invest-ment purchases.

Gold-backed exchange-tradedfunds continued to see outflows,with holdings of the largest, NewYork's SPDR Gold Trust, falling

to a seven-month low onThursday. In supply news,China, the world's biggest goldproducer, said its output of themetal rose more than 9 per centin the first eleven months of2010 from the year before, andwas expected to top a record 340tonnes in the full year.

Silver firmed to $29.09 anounce from $29.04, having earli-er hit its lowest since mid-December at $28.30 an ounce.

Holdings in the world's largestsilver-backed ETF, the iSharesSilver Trust, fell to 10,892.87tonnes on Jan 6 from 10,917.19tonnes a day before.

Platinum was at $1,733.80 anounce against $1,729, while pal-ladium was at $756.70 against$758.50. -Reuters

Gold goes higheras dollar retreats

Sugar surgeson trade,

fund buyingLONDON: Raw sugar futureson ICE rose sharply on Fridayon trade and fund buying butremained well short of lastweek's 30-year peak in volatiletrading.

Prices had eased early in thesession but suddenly surged ina trade-led rally.

March raws rebounded froma low of 29.58 cents to a peakof 32.10 cents and at 1640GMT stood 1.25 cents or 4.1per cent higher at 31.49 cents alb. The front month contracthad suffered a steep correctionfrom last week's 30-year peakof 34.77 cents and tested thekey support band of 29.50 to30.00 cents before rallying.

White sugar futures on Liffewere also higher with March up$23.80 or 3.2 per cent at$772.00 a tonne. Cocoa futuresrose with the market beginningto creep back up again afterprices in London slid to a three-week low earlier this week.

May cocoa on Liffe stood 3pounds higher at 1,936 poundsa tonne, holding aboveWednesday's low of 1,921pounds but far below a peak of2,094 pounds hit in earlyDecember on post-election tur-moil in Ivory Coast.

May cocoa on ICE rose $19 to$2,871 a tonne. Coffee futureswere marginally lower with therecent uptrend in the dollar help-ing to keep a lid on prices. Mayarabicas on ICE eased 0.30 centor 0.1 per cent to $2.3435 per lbwhile March robustas on Liffe fell$9 to $2,020 a tonne. -Reuters

KUALA LUMPUR:

Malaysia's crude palm oilfutures hit one-week lows onFriday as traders squared prof-its amid losses in the overseassoy complex, although worriesover a supply shortage contin-ued to weigh.

Palm oil rallied to 33-monthhighs earlier in the week asheavier-than-usual rainsstalled harvesting in top pro-ducers Indonesia andMalaysia, while dry weatherslowed soy planting in SouthAmerica, raising concern overtight supplies.

The benchmark March 2011crude palm oil contract onBursa Malaysia Derivativesfell as much as 2.7 per cent tosettle at 3,761 ringgit($1,224.483) a tonne -- a levelunseen since Dec. 30, 2010.

Overall traded volume dou-bled to 30,156 lots of 25tonnes each.

"The market is likely to bestable until early March due toan Indian festival later in thismonth and Chinese New Yearin early February," said a trad-er in Kuala Lumpur.

He added, "It's a short termfall as production in Januarycould be hit further by rainfallin plantations in east coast andSabah in Borneo island."

Traders are also on thewatchout for official data fromindustry regulator, MalaysiaPalm Oil Board, on Monday.

A Reuters poll showedMalaysian palm oil stocks fellto a five-month low as over-seas demand outpaced slug-gish output.

US soyoil for January deliv-ery fell 0.8 per cent in Asiantrade hours, while the mostactive Sept. 2011 soyoil con-tract on China's DalianExchange fell 0.7 per cent. -Reuters

Palm eases, tracks soycomplex; data eyed

Tokyo rubber

dips from

record highBANGKOK: Tokyo rubberfutures hit another record highon Friday but then ended theday lower as investors liquidat-ed contracts to take profitsahead of the weekend, but thinphysical supply still providedsolid support, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for June delivery fell5.1 yen to settle at 435.1 yen($5.22) per kg. It rose earlier toa record high of 442.9 yenbefore profit-taking set in.

Asian physical rubber pricesrose further on Friday, withbenchmark Thai RSS3 offered ata record high of $5.30 per kg,supported by strong demand at atime when supply remains limit-ed, dealers said. Dealers said that,after the modest correction onFriday, TOCOM rubber pricescould rise again next weekbecause of thin supply and rela-tively firm oil prices. -Reuters

NEW YORK: US cotton endeddown about 3 per cent onThursday, after rising by almostthe daily limit on speculativebuying before falling as muchon selling related to a rebalanc-ing of cotton holdings by com-modity indexes.

'It was an interesting day incotton where we traveled overnine handles,' Mike Stevens, anindependent cotton analyst inMandeville, Louisiana, said,using market jargon to describethe volatile session.

Benchmark March cottoncontracts on ICE Futures USclosed down 3.98 cents, or 2.7per cent, at $1.4122 per lb.

The contract neared its four-cent trading limit to set a one-week peak at $1.4909. In latertrading, it fell almost four centsto hit a session low of $1.4120.

Stevens attributed the choppysession partly to a mixed read-ing of latest weekly export datafor cotton, which showed a netdrop in sales.

Index funds will be paringrisk from cotton and other over-ly-weighted agriculture marketsand adding exposure to naturalgas and crude oil under therebalancing which runsbetween this week and next.

Investment bank JPMorganChase has estimated that nearly

14,000 cotton contracts couldbe offloaded under the exercise,putting immediate pressure oncotton despite its strong funda-mentals over the longer term.

Another but smaller bearishfactor for prices on Thursdaywas the announcement by CMEGroup that it will raise fromFriday margins for cotton trad-ing on the Chicago Board ofTrade -- a cotton market far lessless liquid than the one on ICE.

Some traders think the liqui-dation pressure over the nextfortnight could take ICE'sbenchmark March cotton tobelow the key $1.30 mark. -Reuters

US cotton ends downby 3pc in choppy trade

Shanghai copper dullsShanghai copper dropped 3

per cent on talk that Chinamay be preparing to tightenmonetary policy shortly.

Shanghai copper fell by2,110 yuan to 69,500 yuan,while zinc dropped as muchas 5 per cent before paringlosses to trade at 18,910yuan at the close, down by3.7 per cent.

US Dec jobless rate falls, job creation below forecasts

10Saturday, January 8, 2011

A little girl is held by her father at the QatarOpen tennis tournament in Doha

Eng bowlingcoach Sakersigns up formore 3 yearsSYDNEY: The EnglandCricket Board has extendedthe contract of national bowl-ing coach David Saker forthree more years.

England's announcement onFriday came after it retainedthe Ashes with a dominatingrun in Australia, with the fastbowlers playing a large rolein that.

Australian Saker, whojoined the team managementbefore England won theTwenty20 World Cup inApril, will continue until atleast 2013. The signing coin-cided with the last day of theseries.

Saker played first-classcricket in Australia forVictoria and Tasmania andcoached in Victoria state.

Another Australian, TroyCooley, was the bowlingcoach for England when itwon at home in 2005 to claimthe Ashes for the first time in16 years. Cooley has sincebeen hired by CricketAustralia.-Online

SYDNEY: England's 3-1 victory over Australia inthe Ashes this winter will live long in the memory.It is also likely to have a lasting presence in therecord books.Few Test series have witnessed the surpassing ofquite so many significant landmarks as the onethat concluded so emphatically in England'sfavour in Sydney on Friday.Inevitably, the majority of the records wereattained by the dominant tourists, who seeminglyset new benchmarks every time they took to thefield. As a team, they inflicted three innings-defeats on Australia in a home series for the firsttime, and recorded new highest innings totals,batting partnerships and individual scores downunder, while player-of-the-series Alastair Cookwas a one-man record machine.Test Match Special's South African scorerAndrew Samson - who worked overtime to bringall the many varied records and stats to listenersthroughout the series - admits it has been a busyfew weeks. Acting skipper Michael Clarke said

Australian cricket had hit rock-bottom after histeam crashed to an unprecedented third inningsdefeat to England to lose their second consecu-tive Ashes series.

Amid calls for heads to roll after Australia'sinept showing, Sutherland said his organisationcould not keep doing the same things andexpect a better result in the next Ashes series inEngland in 2013. Chairman of selectors AndrewHilditch has expressed a desire to keep selectingteams beyond the conclusion of his contractafter the World Cup, which starts next month,while team coach Tim Nielsen is contracted foranother three years. Pace bowling coach TroyCooley is departing at the end of the World Cupto become head of Cricket Australia's centre ofexcellence in Brisbane. England bowling coachDavid Saker withdrew from the running asCooley's successor on Friday, the Australianannouncing he had signed a new three-year dealwith the England and Wales Cricket Board. -Agencies

Australia to review failed Ashes campaign

England’s recordbreaking triumph

SYDNEY: Distraught after thehumiliating Ashes loss toEngland, Australia's Twenty20captain Michael Clarke onFriday quit cricket's shortestformat to revive his battingwhich was a major disappoint-ment during the doomed cam-paign.

Australia lost the Ashes 1-3after going down by an inningsand 83 runs in the fifth andfinal Test here on Friday.

Clarke, who could not makemuch of an impact with his batduring the series and was criti-cised for being too slow in scor-ing, said he would look toregain the lost form by givingup Twenty20. "I'm retiring frominternational T20 cricket andlooking back on this series myTest cricket isn't where I want itat the moment," Clarke said.

"So I guess that gives me theopportunity now to focus whol-ly and solely on Test and one-day cricket and to use that timeto play more domestic and first-class cricket for NSW andbecome a better Test player. I'vealways said Test cricket is theultimate for me and this givesme that opportunity," he added.

Clarke captained the sidehere after regular skipperRicky Ponting was ruled outdue to injury. The 29-year-old

said he has not proved to bemuch of a success inTwenty20. "My T20 perform-ances haven't been that great soit made my decision easier, butmy main focus is to firstlybecome a better Test cricketerand also to help the team as thevice-captain, do whatever I canto help this team turn itaround," said Clarke.

"It's probably happenedbecause of these five Testmatches, probably because ofmy performances in these fiveTest matches." "T20 cricketnow has brought another formof the game to Australian crick-et and to world cricket. I thinkAustralian players are lookingat T20 cricket as a way of thefuture even if they don't want toplay Test or one-day cricket,"he added. Clarke said he firmlybelieved that he could notthrive in all three formats of thegame. In 34 Twenty20s forAustralia, Clarke averaged21.21 with a strike-rate of103.17. "I 100 percent believe,though, that everyone in thedressing room wants to playTest and one-day cricket forAustralia and the guys involvedin T20 and one-day cricket arestoked to be playing all threeforms but their focus is defi-nitely Test cricket. -Reuters

Clarke quits T20after Ashes debacle

HAMILTON: Pakistan's Abdul Rehman pro-duced a sustained, tight spell of left-arm spinbowling to take three wickets for 51 runs as NewZealand scrambled to 260 for seven at the closeof play on the first day of the first test at SeddonPark on Friday.

Kane Williamson was on 44 while pacebowler Tim Southee was on 56, his second testhalf century, after the hosts had appeared to be incontrol on 78-1 at lunch only for Pakistan toseize the advantage in the middle session.

Williamson, the last recognised batsmen, andSouthee combined for an unbroken 83-runeighth-wicket partnership to at least give NewZealand some respectability at stumps thoughthey would be disappointed after a promisingstart was squandered. Rehman, who was intro-duced for one over in the first session, bowledfive successive maidens after the lunch breakand 29 overs unchanged before the second newball was taken, tying down the normally free-

flowing New Zealand batsmen. "I expected (tobe bowling on the first day) because the pitchlooked quite flat and I prepared in my mind tobowl 20 to 30 overs," Rehman told reporters.

"Spin on the first day is good for spinners andgood for me as well. It will definitely spin onday three and day four." New Zealand lost fourwickets after lunch and the visitors' momentumcontinued after tea when debutant wicketkeeperReece Young was harshly adjudged lbw for 14off Rehman, though television replays suggestedthe ball was missing the stumps. Captain DanielVettori's dismissal, however, was more defini-tive when he trapped by a full delivery fromTanvir Ahmed for a two-ball duck. BrendonMcCullum and Martin Guptill had providedNew Zealand with a promising start when theysteered them to 78 for one at lunch after TimMcIntosh was caught for five by Younus Khan atsecond slip off Tanvir in only the second over. -Reuters

Rehman hands Pakistanadvantage in first test

DUBAI: Third-placedEngland has narrowed the gapwith second-ranked SouthAfrica while India has contin-ued to dominate the RelianceMobile ICC TestChampionship following theconclusion of Test series inAustralia and South Africa.

According to a press releaseissued here on Friday,England, which had enteredthe Ashes series on 112 ratingspoints, has jumped to 115 rat-ings points after its 3-1 victoryover Australia. AndrewStrauss's side now trailsGraeme Smith's men by justtwo ratings points.

The Proteas, which startedagainst India on 116 ratingspoints, has gained one ratingspoint and has moved to 117 rat-ings points following a one-alldraw in the series which endedin Cape Town on Thursday.

India though has droppedone ratings point but it contin-ues to lead South Africa by 11ratings as it is now on 128 rat-ings points.

For Australia, the news is notso good and its first Ashesdefeat in 24 years on home soilhas meant it has dropped tofifth on the table. The defeat

has cost Australia three ratingspoints which has put it twopoints behind Sri Lanka on 107.

Meanwhile, the two-Testseries between New Zealandand Pakistan started inHamilton.

In the series, the Black Capswill have the opportunity toimprove on its current positionof number eight and rise to ashigh as sixth.

But to make this happen, itwould have to win both Testswhich would put it alongsidethe West Indies on 85 ratingspoints but ahead by a fraction.

Pakistan, which will drop toeighth position on 82 ratingspoints if it is loses both theTests, in contrast, can earn fourratings points and rise to 92ratings points if the results arereversed.

According to new ranking,India gripped first positionwith 128 points, South Africaon 2nd position with 117points, England on third posi-tion with 115 pointsMeanwhile Sri Lanka on 4,Australia on 5, Pakistan on 06,West Indies on 7, New Zealandon 08 and Bangladesh grippedthe 9th position in the latestranking. NNI

Pakistanclutchessixth slot

RogueIndonesian

leaguefacing FIFA

sanctionsDOHA: FIFA will take sanc-tions against a rogueIndonesian league if it goesahead as expected onSaturday, world soccer's gov-erning body said.

The 19-team IndonesianPremier League (IPL) is thebrainchild of oil tycoon ArifinPanigoro as a way of improv-ing soccer in the region.

However it is not recognisedby the Indonesian FootballAssociation (PSSI) or FIFA,who both support the existingIndonesian Super League(ISL).

"We have not received any-thing official about this but weexpect the (IPL) league to startplaying tomorrow(Saturday)," FIFA director ofmember associations anddevelopment ThierryRegenass told Reuters in Dohaon the eve of the Asian Cup.

"We are aware of the situa-tion and if it goes ahead it willbe dealt with by FIFA's emer-gency committee and sanc-tions will be taken."

The PSSI have said theywould also take sanctionsagainst the IPL's players andteams, including the three whohave switched from the ISL.The other 16 teams are new.

Despite soccer being hugelypopular in Indonesia, theworld's most populousMuslim nation, the nationalteam are ranked 127th byFIFA and not competing inDoha.

They were surprisingly beat-en by Malaysia in the final ofthe Suzuki Cup last month.

Friday's Jakarta Globereported that 70 peopledemonstrated in the city infavour of the PSSI and againstthe IPL.

"The IPL is a conspiracy,full of conflicts of interests,and its objective is to weakenthe PSSI," one of the demon-strators Nur Joko told thepaper.

The new league, which hasbeen backed by the sportsminister, provides furtherembarrassment to the PSSIwho were forced to withdrawa surprise bid to host the 2022World Cup more than sevenmonths before the vote afterfailing to secure governmentsupport.-Reuters

2022 soccerWC likelyto be in Jan

DOHA: The 2022 World Cupin Qatar will probably bestaged in January rather thanJune or July, FIFA presidentSepp Blatter said for the firsttime on Friday.

Speaking to a media round-table in the Qatari capitalbefore the opening match ofthe Asian Cup, he said: "Iexpect it will be held in thewinter.

"We have time to look at thisquestion, it is still 11 yearsaway but we must decide themost adequate period for a suc-cessful World Cup whichmeans January or the end of theyear."

Summer temperatures inQatar can soar to over 40degrees Celsius while those inthe winter months are far morecomfortable.

Blatter said that the Qatarifootball association is nowresponsible for organising theWorld Cup and they wouldwork closely with FIFA in theyears ahead to guarantee a suc-cessful tournament.

"Do not forget there is still 11years to go and although wehave the basic conditions oftheir bid for a June and JulyWorld Cup, the FIFA executivecommittee is entitled to changeanything that was in the bid.

"When you play football youhave to protect the main peo-ple, the players."

When the decision wasannounced last month to awardQatar the 2022 finals -- the firsttime the event has been held inthe Middle East -- manyobservers were concerned theintense temperatures therewhich can top 50 Celsiuswould be unbearable for play-ers and fans alike.

In January, the temperaturesare usually between 20 and 30Celsius.-Reuters

DUBAI: Anti-CorruptionTribunal Chairman MichaelBeloff, QC, has outlined theprocedure that would beadopted at the full hearing ofthe spot fixing case, sched-uled to take place from 6 to11 January, to adjudicateupon the 'alleged breachesof the ICC Anti-CorruptionCode for Players and PlayerSupport Personnel' by threePakistan players- SalmanButt, Mohammad Amir andMohammad Asif.

On 2 September 2010, theICC had charged the triowith various offences underArticle 2 of the mentionedcode relating to "allegedirregular behaviour during,

and in relation to, the fourthTest between England andPakistan at Lord's."

"The procedure for thehearing has been agreed byall parties and approved byme. It is designed to ensurethat all parties can be satis-fied that they have beengiven a full and fair opportu-nity to present their evi-dence and advance their sub-missions," an ICC mediarelease quoted Beloff, assaying.

Giving the summary of theprocedure, Beloff said thatthe hearing would beginwith the ICC making anopening statement, present-ing its case against each of

the three players, and thenthe "players will each thenbe entitled to respond, inturn."

"Thereafter, the ICC willpresent all of the evidencethat it has prepared in sup-port of the charges it hasbrought. That will take vari-ous forms and will includehearing from witnesses 'inperson' and over the tele-phone," he said.

"To the extent that anywitness evidence is disputedby the players, they are eachentitled to challenge (bycross-examination) any partof that witness evidence.Members of the tribunal willalso be able to ask questions

of any witness," he added.Beloff said that the players

would then, in turn, presenttheir defence, during which"they will be required togive 'in-person' evidencebefore the tribunal and willbe subject to cross-examina-tion by counsel for the otherplayers (if required) andthen by the ICC."

"Again, members of thetribunal will be able to askquestions of any witnessesprovided by the players insupport of their defence,including the players them-selves," he added.

Thereafter, each partyshall be entitled to make aclosing statement on the

issue of whether the chargesshould be upheld, saidBeloff, adding that the tribu-nal will then retire to "delib-erate in private" whether thecharges against any of theplayers should be upheld.

He said that if the tribunalis able to give judgmentprior to the end of the day onJanuary 11, and upholds anycharges against any player,"if time allows and the tribu-nal concurs, the player(s) inquestion and the ICC willthen address the tribunal onthe issue of the sanction(s)(if any) that should beimposed, and any costsorder that should be made."

"The members of the tribu-

nal will then retire to delib-erate in private on the issueof sanctions and costs. Iftime allows, it will thenreturn to advise the partiesverbally of any ruling onsanctions and costs. If not, itwill reserve judgment," theICC release quoted Beloff,as saying.

"If the tribunal advises theparties of its decision onwhether any of the chargesagainst the players havebeen upheld and/or on sanc-tions and costs before theend of the hearing, then theICC will publicly announcethat decision, in the formdirected by the tribunal," headded.-Online

Beloff outlines tribunal's hearing procedure against tainted trio

HONGKONG: China's Li Na returns to Venus Williams of the US during the Silver Group Ladies Final at the Tennis Classic 2011.-Reuters

India on top in new ICC ranking

11Friday, January 7, 2011

International & Continuation

CONTINUATION

India cbanksays rate

pause not afull stop

MUMBAI: India's central bankgovernor Duvvuri Subbaraosaid on Friday a pause in itstightening cycle should beinterpreted as a comma and nota full stop, indicating furthermonetary policy tighteninggoing ahead. Subbarao told aconference in New Delhi thecentral bank was aiming toimprove transparency andwould not surprise marketswith unexpected actions.

"While we have not surren-dered our flexibility to take pol-icy action as and when warrant-ed, more frequent scheduling ofpolicy reviews reduces the needfor off-cycle action and therebyminimises the surprise element,"Subbarao said. The central bankis due to review its monetarypolicy on Jan. 25 and is widelyexpected to raise rates by at least25 basis points, after pausing inDecember, on the back of asurge in inflationary pressure.

"Inside the Reserve Bank, theview was that within the policytrajectory, it did not matter ifwe paused briefly as long as weremained committed to theeventual outcome. "The dilem-ma then boiled down to com-municating to the market thatour action should be interpretedonly as a comma and not a fullstop," he told a conference onthe Dilemmas in Central BankCommunication held in thecapital city. The Reserve Bankof India has been the mostaggressive major central bankin Asia, lifting interest rates sixtimes last year to fight surgingprices being spurred by risingfood costs in an economy grow-ing at nearly 9pc. -Reuters

SEOUL: The Group of 20leading economies have startedworking-level talks on thesoaring food prices that arestoking fears of a repeat of the2008 food crisis.

Global food prices hit arecord high last month, out-stripping the levels thatsparked riots in several coun-tries in 2008, and key grainscould rise further, the UnitedNations' food agency said thisweek.

Policymakers' major concernis that, if unchecked, risingfood prices could stoke infla-tion, protectionism and unrest.

Hundreds of youths clashedwith police in several Algeriancities including the capital onThursday over food prices andunemployment, residents said.

Rising food prices could alsoset back the recovery from thefinancial crisis by eroding con-sumers' disposable budgets inthe fast-growing emergingeconomies that are leading therevival. Rhee Chang-yong,who represents South Korea atthe G20, said working grouptalks were under way in theG20 with the aim of improvingglobal cooperation to resolvefood security problems aheadof a summit hosted by France.

"France is emphasising foodsecurity. As a former hostcountry of G20, we would liketo deal with the price volatilityproblem thoroughly," Rheesaid.

French President NicolasSarkozy has asked the WorldBank to conduct urgentresearch on the impact of foodprices, a source familiar withthe matter said.

CEREAL PRICESUP IN 2010

Last year, wheat futuresprices rose 47 percent, buoyedby bad weather includingdrought in Russia and its BlackSea neighbours. U.S. corn rosemore than 50 percent and U.S.soybeans jumped 34 percent.

The U.N. Food andAgriculture Organisation saidin a report on Wednesday that

sugar and meat prices were attheir highest since its recordsbegan in 1990. For wheat, rice,corn and other cereals, priceswere at their highest since the2008 crisis.

During that crisis, riots brokeout in countries from Egypt toHaiti. Import prices jumped,forcing many countries' tradebalances into a deep and costlydeficit and several govern-ments in Asia imposed exportrestrictions on rice.

The U.N.'s World FoodProgramme (WFP), which wasfeeding some 100 million peo-ple last year, noted that cerealsincluding rice had not hit 2008price peaks, but that sugar andcooking oil were pushing upthe food index. "We're ready tostep up assistance specificallyto countries that are vulnerableto these high prices, especiallyfocusing also on risks to chil-dren," WFP spokeswomanEmilia Casella told a newsbriefing in Geneva. She said afairly good harvest in a numberof African countries in the pastyear had helped, and thatreserves were higher than inthe 2008 crisis while fuelprices, which affect fertiliserand the transport of food, werelower. Robert Prior-Wandesforde, an economist atCredit Suisse in Singapore,said food commodity priceswere unlikely to rise much fur-ther, barring weather catastro-phes. "The estimated globaland exporting countries' stock-to-use ratios of both wheat andrice are considerably highertoday than in 2007-08, makingshortages and drastic exportbans unlikely," he said in areport.

But the London-based ven-ture capital firm EmergentAsset Management, whichholds swathes of land acrosssouthern Africa, still sees muchmore mileage in food prices.

"The world is still in denialabout food prices," its chiefinvestment officer, DavidMurran, told Reuters.

"If you look at demograph-

ics, if you look at production, ifyou look at the impact of cli-mate change, then we are onlyat the beginning of this."

CHILLIS, RICEAND ONIONS

Many countries in Asia,including India and China,have seen food inflation jumpto double digit levels. Chinahas imposed price controls totry to ensure stable prices forconsumers. On Friday,Ethiopia announced similarmeasures.

Thailand, the world's biggestrice exporter, sought to reas-sure the market, withCommerce Minister PorntivaNakasai telling reporters itwould maintain 2011 exportsat 9 to 9.5 million tonnes aftershipping 9 million in 2010.

The Philippines, the world'sbiggest buyer of rice, said itwould cut its 2011 imports byat least half, compared withrecord purchases in 2010, fur-ther easing concerns of a tightrice market this year.

Still, the head of the NationalFood Authority, which over-seas rice imports, said it mightincrease its buffer stock tocover a minimum 40 days ofdemand, from 30 now.

A senior food official inBangladesh said it was worriedabout food security and hadimported 250,000 tonnes ofrice from Vietnam.

In Indonesia, which has theworld's fourth-largest popula-tion, a fivefold rise in the priceof chillies in the past year hashelped drive overall inflationto near 7 percent.

Farmers are operatingaround-the-clock patrols toprotect their chilli plants andPresident Susilo BambangYudhoyono has urged house-holds to plant chillies in theirgardens.

In India, where onion priceshave triggered protests in thepast, prices have jumped afterweather damaged the crop andofficials have opened talkswith Pakistan about resumingimports.-Reuters

G20 to tacklefood pricesas countries

reassure

WASHINGTON: US employ-ers hired fewer workers thanexpected in December and asurprise fall in the unemploy-ment rate to its lowest level inmore than 1-1/2 years was inpart due to people giving upthe search for work.

The disappointing jobsgrowth figure reported by theLabor Department on Fridaysuggested the Federal Reservewould likely stay the coursewith its effort to support theworld's biggest economy withthe purchase of $600 billion ingovernment bonds.

The department's survey ofnon-farm employers showedpayrolls increased 103,000 lastmonth, below economists'expectations for 175,000.Private hiring rose 113,000,while government employmentfell 10,000.

"A very disappointing num-ber that reinforces the idea thatwe're in for a long, slow job-less recovery. The Fed simplycannot relent until they seeunemployment at least below 9percent," said Brian Dolan,chief strategist at Forex.com inBedminster, New Jersey.

Tempering the disappoint-ment, overall employment forOctober and November wasrevised to show 70,000 morejob gains than previouslyreported.

U.S. stocks opened marginal-ly higher, while Treasury debtprices erased losses on the

data. The dollar initiallyslipped against the euro, butthen reversed course.

The unemployment rate fellto 9.4 percent, the lowest sinceMay 2009, from 9.8 percent inNovember. However, the dropin the jobless rate was mixednews.

A survey of households fromwhich the unemployment rateis derived showed a bigincrease in employment butalso a sharp decline in the laborforce. Those factors combinedto lead to the biggest drop inthe jobless rate since April1998.

Though the labor marketrecovery remains very slow,the broader economy is show-ing signs of strengthening,with data on consumer spend-ing and manufacturing improv-ing.

Federal Reserve ChairmanBen Bernanke, in congression-al testimony prepared beforethe jobs data was public,sounded a slightly more opti-mist tone than in his last publicremarks in early December.

"We have seen increased evi-dence that a self-sustainingrecovery in consumer and busi-ness spending may be takinghold," the central bank chieftold the Senate BudgetCommittee, without offering aview on the future course ofmonetary policy.

Some policymakers indicat-ed in December they had a

"fairly high" threshold for cur-tailing the stimulus program.

Some analysts looked at thedrop in the unemployment rateas good news. However, thelabor force participation rate, ameasure of how many potentialworkers are actually in the jobmarket, dropped to 64.3 per-cent, yet another fresh cyclelow.

"Yes, we are getting morepeople employed but weappear to be losing people intothe woodwork -- not a goodsign long term," said JohnSilvia, chief economist atWells Fargo.

Employment gains inDecember were led by the pri-vate services sector, which sawpayrolls rising 115,000 aftergaining 84,000 in November.Retail jobs increased 12,000after a surprise 19,400 slump inNovember when retailersreported their best sales inyears. Temporary hiring, seenas a harbinger of permanentemployment, increased 15,900after 31,100 in November.

The goods-producing sectorshed 2,000 jobs in Decemberafter losing 5,000 inNovember, but manufacturingpayrolls rose 10,000.Construction employment fell16,000 after slipping 2,000 inNovember. The average workweek was steady at 34.3 hours.Average hourly earningsincreased three cents inDecember.-Reuters

US jobs growthstumbles even asjobless rate falls

telephone and the MQM leader raised national issues includingprice hike, unemployment, law and order, terrorism, electricity,gas, and sugar crises.

On the other hand he (PM) informed him about country's eco-nomic problems and assured him that the Government will nottake any decision without consultation with the allies.

Syed Yousuf Raza Gilani said he invited Altaf Hussain and otherpolitical parties to bring a consensus accountability bill whichshould be transparent so that no one could raise a finger on it. Hepointed out that there is a very little difference between accounta-bility and victimisation of political opponents.

About concerns of the MQM as far as Provincial Governmentwas concerned, the Prime Minister said Sindh Chief Ministerassured him that he will take MQM along in the decision makingprocess. He assured on behalf of the Provincial Government thatMQM Ministers would have a free hand and their complaintswould be resolved immediately.

He expressed the confidence that PPP and MQM would remainunited in the larger national interests and play their due role.

Asked about the ultimatum given by the PML-N, the PrimeMinister said it would be examined at the level of the party.

Raza Haroon said the MQM arrived at the decision after lengthyconsultations of the Rabita Committee in London and Karachi inthe larger interest of the country, for the welfare of the people andstrengthening of democracy. He said they raised the concerns ofthe MQM with the Prime Minister in a free and frank manner whoassured them for their resolution.

He said the MQM decision to sit on the government benches isresponse to the goodwill gesture shown by the Prime Minister byvisiting the MQM headquarters.

Continued from page 1No #1

promotion of exports.He said the government is taking all possible steps for overcom-

ing the load-shedding of electricity and gas which are the mainfactors for smooth running of industries.

Continued from page 1No #2

"It has been proven that it was a puppet show of which NawazSharif had categorically denied being a part of," he said.

He said the PML-N's ultimatum to the government persists andif the government fails to address the issues highlighted by hisparty, PML-N will have no other option but remove PakistanPeople's Party from Punjab government.-Agencies

Continued from page 1No #3

said. "We continue to work with Pakistan to see if we can reachagreement on measures that the government can put in place toput its economy on a sounder footing," Atkinson added.-Online

Continued from page 1No #4

it," she said. Meanwhile, a report from Lahore said thatPakistani traders have expressed disappointment over the decisionof their government to put these restrictions.

"Such decisions hamper trade between the two countries andcause wastage of perishable goods. This is in the interest of nei-ther the government nor traders and consumers," said Iftikhar AliMalik, vice-president of the Saarc Chamber of Commerce andIndustry.

Continued from page 1No #5

Pakistan government on many occasions that it must reform its economiclaws and regulations, including those that affect fuel and its cost," Clintontold reporters at a joint appearance with her Japanese counterpart.

US officials said Pakistan government can ill afford to increase its publicexpenditure after last year's catastrophic floods which have raised fears thatthe country cannot meet IMF targets on inflation and budget deficit levels.

Mark Toner, a state department spokesman had earlier signalled USOpposition to the reversal of fuel price hikes saying that Washington hadbeen impressing on Islamabad to keep steady on the reform process as thesewere important for the country's long term economic stability.

"Our position is that Pakistan needs to undertake difficult economicreforms that are going to require some pain, frankly politically," he said inreply to questions about Pakistan's fuel price rollback. Islamabad's decisionto rollback fuel hike could endanger its ability to receive funds under theIMF's USD 11 billion loan programme, sources said.-Online

Continued from page 1No #6

places having religious importance for minorities, he added.To a supplementary question, the minister said that Rs10 million was dis-

bursed in the deserving families on the eve of Christmas.He said ownership would be given to the minorities' people living in the

slums of the capital besides provision of other facilities.-APP

Continued from page 1No #7

the Prime Minister in taking all stakeholders and political parties on boardin addressing the current situation. The President advised the PrimeMinister to continue efforts aimed at seeking consensus of all politicalforces in addressing the urgent issues of the day. Interior Minister RehmanMalik was also present during the meeting.-Online

Continued from page 1No #8

Replying to various supplementary questions in Question Hour,he said that currently under the policy, there will be one UtilityStore Corporation (USC) in every union council of the country.However, he said more stores were established in urban areas.

The minister said the government is trying its best to extend thefacility to the far flung areas of the country, but there are certaincriteria for setting up USC which include presence of a Bank orPost Office. To a question, he said that 552,000 metric tonnessugar was supplied to 62 USC regions during January toDecember 2010. He said the imported sugar was being supplied toUSC and its quality is up to the mark adding no comprise wouldbe made on the same. The minister said currently, at USC outlets,sugar is being sold at Rs60 per kg and there is no proposal toincrease its price. A provision for the promotion of small industryis also included in the new policy, he added.-APP

The traders demanded that the customs authorities at the Wagah land bor-der clear contracted consignments of 300 trucks.

Before the federal Pakistani government imposed the ban, several tradershad bagged major orders from India.

India's food inflation rose for the fifth straight week to the highest in morethan a year this week, reinforcing fears it has spilt over to broader prices andcementing expectations of a January interest rate hike, reported PTI.

But the spurt in prices of many basic foodstuffs has also raised questionsover the government's ability to control price rises through monetary policy,with poor infrastructure, hoarding and supply bottlenecks contributing tostubbornly-high food inflation.-Agencies

Congress ultimately controls the Defense Department's budget, and lawmakers often block admin-istration efforts to cut military spending that provides jobs in their home districts.

But Gates said the military had to play its part in getting US finances in order."As the biggest part of the discretionary federal budget, the Pentagon cannot presume to exempt

itself from the scrutiny and pressure faced by the rest of our government," Gates said.Mitch McConnell, the top ranking Republican in the Senate, said on Thursday he believed no US

government department was off-limits from belt-tightening.Other Republicans offered a swift rebuke of the plans, in a sign that the proposed cuts may not be

realized despite growing pressure to rein in US government spending."I'm not happy," House Armed Services Committee Chairman Howard McKeon told reporters.

"This is a dramatic shift for a nation at war and a dangerous signal from the Commander in Chief."-Reuters

Continued from page 12No #9

in areas where Islamic extremism breeds, and push the Army to go after the Taliban, "but for now,the priority should be its survival," the editorial said.

It said that Richard Holbrooke, the veteran diplomat who served as a special policy coordinator inthe region until his sudden death last month, recognized this truth.

Not long before his death, the envoy argued that although the US-Pakistan relationship was one ofthe most complex and difficult ones he had known in his long career, the United States had no choicebut to keep working at it, said the editorial.

"People come up to me and say, we have got to tell the Pakistanis that they have got to do X, orelse," it quoted Holbrooke, as saying in an interview with PBS''s Margaret Warner.

"Well the correct answer is, ''or else what?'' . . . We have different situations, and we have to rec-oncile them," he added.

The editorial noted that this advice of Holbrooke is "worth remembering as the administrationgrapples with this crisis."-Online

Continued from page 12No #10

what was intended.The chairman may nod to a possible short-term boost to the economy from President Barack

Obama's tax cut deal with Republicans. But he might also echo his staffers' assessment that the pack-age does not materially brighten the longer-term horizon.

"It's easy and quite reasonable for him to say it's all very preliminary, and that it will be sometimebefore the improving trends are firmly entrenched," said Lou Crandall, chief economist at WrightsonAssociates in New York.

Indeed, US unemployment remains near 10 per cent and economic growth -- running at 2.6 percent on an annualised basis at latest blush -- remains too weak to boost hiring significantly.-Reuters

Continued from page 12No #11

the meeting, the minister said the country would like to engage Pakistan to sort out outstandingissues.

"We would like to engage Pakistan in a dialogue and there is no alternative other than talking toPakistan and keeping them engaged thereby sorting out outstanding issues," he said. Asked aboutthe reported confession by RSS leader Aseemanand on his role in the Samjhauta Express train blastand if India will convey it to Pakistan, he said: "All such issues are taken up with respective gov-ernments and his ministry will certainly do so".

Giving a round-up of the foreign ministry for 2010, he said international terrorism has been a coreforeign policy concern for India for some time now.

"We have been victims of vicious kind of cross-border terror for well over two decades," he said. Apparently referring to Pakistan's Intelligence agency ISI, he said terrorism is being backed by

official agencies and is being used continuously against the country as a political and economicalweapon.-Online

Continued from page 12No #12

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WASHINGTON: Under the prevail-ing circumstances in Pakistan, espe-cially in the wake of liberal politicianSalman Taseer's assassination, theWest has 'little choice other than totry to support and strengthen' theZardari government, an editorial in aUS newspaper has said.

The Washington Post editorial saidthat while it was easy to "blamePakistan's deepening crisis on itsfeckless civilian government", theassassination of one of Zardari'schief allies, Punjab governor Salman

Taseer, was a reminder that the coun-try is engaged in a fateful civil warbetween democratic moderates andMuslim extremists- and that the cur-rent government is the most reliableliberal force.

It, however, noted that Zardari andhis Pakistan People's Party had beenineffectual in managing the country'seconomy, slow in responding to dis-asters like last summer's floods andunable to attack Taliban sanctuariesas the United States has been seekingfor years.

Although the Obama administra-tion has been a generous supporter,delivering billions in civilian andmilitary aid to Pakistan, some of thecivilian aid has been slowed by redtape, the editorial said, adding thatthe IMF demands that the govern-ment raise taxes had contributed tothe collapse of its parliamentarycoalition.

Therefore, even though Zardari'sgovernment needs to implement eco-nomic reforms, sponsor development

See # 10 Page 11

West to bet on PPP-govtunder given contexts: WP

LAHORE: President Asif Ali ZardariFriday afternoon arrived in Lahore onan unannounced visit to condole withthe family of Shaheed Salman Taseer.

Talking to the bereaved family oflate governor at their private resi-dence at Cavalry Ground here thePresident said Shaheed Salman Taseerwas a great fighter in the true traditionof our political peers ShaheedZulfikar Ali Bhutto and ShaheedMohtarma Benazir Bhutto who fol-lowed in their footsteps and the foot-steps of hundreds of party workers tomartyrdom.

The President said that Taseerwrote with his blood a new chapterin the history of PPP's heroic strug-gle against bigotry, tyranny, andobscurantism. Taseer embraced mar-tyrdom fighting for human rights,minorities' rights and democracy andagainst extremism and fanaticism, hesaid.

Paying tribute to Salman Taseer for

espousing the causes of the margin-alised sections of society thePresident said that Taseer's supremesacrifice will continue to inspiremany down the line.

The President said that Taseer wasmartyred to further polarise the socie-ty behind the façade of religion tofrighten the democratic forces. Hesaid all those behind the crime will beexposed and punished as per the law.

The supreme sacrifice rendered byShaheed Salman Taseer will not go invain, the President further said.

The President also offered prayer onthe occasion and prayed to Allah togrant the Shaheed a high place inheaven.

Spokesperson to the PresidentFarhatulllah Babar said that thePresident was accompanied by hispersonal staff.

Children of Salman Taseer werepresent on the occasion to receivecondolences.-Online

Zardari hymnsTaseer’s blood

President condoles with Taseer's family in Lhr

MUMBAI: India is 'not satisfied'with the pace of progress in theMumbai terror attack trial in Pakistanand would like the cases against thesuspects 'expedited', Prime MinisterManmohan Singh said.

"Well, we would like those cases tobe expedited, beyond that what can Isay. You know what problems wehave with Pakistan. We are not satis-fied with the pace those cases havebeen allowed to go forward," Singhsaid.

Singh was talking to reporters afterhe paid homage to Mumbai terrorattack victims yesterday at the TajHotel where he had addressed anInfosys function. He also laid awreath at the memorial.

The Prime Minister was askedwhether he was satisfied with theway the case against the Mumbaiattack suspects is progressing inPakistan.

Singh said he has come to Mumbaito pay homage to the memory of thoseinnocent Indians and some foreign

nationals who died in the wake of the'terrible terrorist onslaught' on the'gracious' city of Mumbai and on thepeople of India.

"I sincerely hope and pray that wethe nation as a whole will remainunited in tackling the menace that ter-rorism poses for civilised persons,civilised societies," he said.-Online

Expedite 26/11 trial,Singh tells Pakistan

LAHORE: President of Pakistan Asif Ali Zardari offering prayer withthe family of late governor Punjab Salman Taseer. -APP

US senateto size up

Fed chief’spolicymakingWASHINGTON: BenBernanke will not get an easypass from US lawmakers onFriday as the Federal Reservechairman delivers his first con-gressional testimony since thecentral bank launched a contro-versial bond-buying policy.

Facing a newly-empoweredRepublican Party skeptical ofthe Fed's latest attempt to stim-ulate the US economy,Bernanke may put the brakeson some of Wall Street's opti-mism surrounding a recentrebound in key economic data.

Having been burned beforeby maintaining a rosy outlookeven as the housing crisis deep-ened, Bernanke is likely tomake sure the growth trend isfirmly entrenched beforesounding too chipper.

Minutes from the Fed'sDecember policy-setting meet-ing revealed a good deal of cau-tion about recent improvementsin the economic data, includinga high threshold for curtailingthe plan to buy an additional$600 billion in bondsannounced in November.

"While the economic outlookwas seen as improving, mem-bers generally felt that thechange in the outlook was notsufficient to warrant any adjust-ments to the asset-purchaseprogram," said the minutes,published earlier this week.

Bernanke will most likelystick to that script before theSenate Budget Committee,even though the numbers haveindeed pointed to a pickup inbusiness activity -- and glim-mers of hope on the hiringfront.

He will have to explain whyyields on benchmark Treasurynotes have jumped 1 per cent-age point since the Fed's bondbuys were announced, movingin the opposite direction of

See # 11 Page 11

New DelhiexpectingQureshi:Krishna

NEW DELHI: India is expect-ing Pakistan foreign ministerShah Mehmood Qureshi to behere in a next couple ofmonths, before which the for-eign secretaries of the twocountries will meet to "clear theground for a very productivemeeting" between the two for-eign ministers.

External affairs minister SMKrishna said, "The indicationgiven to me by Qureshi wasthat sometime in the first quar-ter of 2011, he would be visit-ing Delhi and we are lookingforward to it", reported PTI

He said before Qureshi's visit"two foreign secretaries willmeet and clear the ground for avery productive meeting at thelevel of foreign ministers."

Krishna rejected a contentionthat his previous meeting withhis counterpart in Islamabadfailed due to lack of properground work done by the offi-cials in the two countries.

Asked about the agenda for See # 12 Page 11

WASHINGTON: President BarackObama, retooling his economic teamto boost sluggish US growth andtackle emboldened Republicans, willon Friday name Gene Sperling as thenew head of his National EconomicCouncil.

A White House official saidObama will announce the appoint-ment of Sperling, a trusted aide andClinton-era veteran, in remarks at awindow manufacturer in Marylandwhere he will also discuss the econ-omy and December's job report.

Sperling's pick to replace LarrySummers at the economic councilfollows Obama's naming of a newchief of staff and the resignation ofhis press secretary, as the presidentshakes up his team after Republicanstook control of the House ofRepresentatives this week.

Sperling, a counselor to TreasurySecretary Timothy Geithner, servedas head of the NEC for President Bill

Clinton between 1997 and 2000, andhelped Clinton battle theRepublicans and, eventually, bal-ance the budget.

Obama, who must boost growth toease US unemployment stuck justbelow 10 per cent or be punished in2012's presidential election, onThursday tapped another former

Clinton aide, William Daley, anexecutive at J.P. Morgan Chase, ashis chief of staff.

The United States plans to cut $78billion in defense spending over fiveyears, including a reduction of up to47,000 troops, in a politically con-tentious move that would trim thegovernment's growing budgetdeficit.

The proposed cuts, unveiled at asomber Pentagon briefing onThursday, follow increased WhiteHouse and congressional scrutiny ofmilitary spending, which has dou-bled in real terms since theSeptember 11, 2001, attacks.

They are in addition to a $100 bil-lion cost-savings drive that DefenseSecretary Robert Gates kicked offlast year to eliminate waste, cutpoorly performing weapons pro-grammes and redirect the money toother priorities.

See # 9 Page 11

New economy wizboards Obama’s ark

US aims to cut defense budget and slash troops

ISLAMABAD: Information MinisterQamar Zaman Kaira has made it clearthat Parliament is a supreme institu-tion and there is no need to give anydeadline to the government.

"Government does not accept anydeadline nor is there any need to giveit any. Parliament is a supreme institu-tion and in its presence there is noimportance of any deadline", he saidthis while talking to media men hereFriday outside Parliament House.

He held government would resolveall the issues inside Parliament anddemocratic system would be strength-ened further.

To a question he said MQM hasgood working relationship with thegovernment, adding it was still an ally

of the ruling coalition and its reserva-tions have been removed to consider-able extent.

Responding to a question he said aslong as Azam Swati was a part ofCabinet he saw no flaws in the primeminister but soon after his removal asminister, prime minister became cor-rupt in his eyes.

He was of the view that governmentwas working for elimination of cor-ruption and National Ehtesab Billwould soon be presented inParliament.

The powers of appointing governorsrests with the president and he wouldsoon announce a new governor forPunjab in consultation with primeminister, he said.-Online

Kaira plays down“deadline” politics