International

SA series squad announced, captain not named See on Page 10

No pact signed over drone attacks in Pak: FO See on Page 12

PAC to audit transport in all govt depts See on Page 12

See on Page 12

*Crude Oil (brent)$/bbl 85.04

*Crude Oil (WTI)$/bbl 83.36

*Cotton $/lb 102.38

*Gold $/ozs 1,351.30

*Silver $/ozs 23.20

Malaysian Palm $ 901.30

GOLD (NCEL) PKR 37,306

KHI Cotton 40Kg PKR 7,502

*Last Updated 20:00 PST

Yearly(Jul, 2010 up to 06-Oct-2010)

Monthly(Oct, 2010 up to 06-Oct-2010)

Daily (06-Oct-2010)

Total Portfolio Invest (1 Oct-2010)

45.86

-3.36

-0.69

2353

0.38

-0.94

0.12

-0.29

0.23

0.71

-0.21

SCRA(U.S $ in million)

Portfolio Investment

FIPI (06-Oct-2010)

Local Companies (06-Oct-2010)

Banks / DFI (06-Oct-2010)

Mutual Funds (06-Oct-2010)

NBFC (06-Oct-2010)

Local Investors (06-Oct-2010)

Other Organization (06-Oct-2010)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (1-Oct-10)

Inflation CPI% (Jul 10-Aug 10)

Exports (Jul 10-Aug 10)

Imports (Jul 10-Aug 10)

Trade Balance (Jul 10-Aug 10)

Current A/C (Jul 10- Aug10)

Remittances (Jul 10-Aug 10)

Foreign Invest (Jul 10-Aug10)

Revenue (Jul 10-Aug10)

Foreign Debt (Jun 10)

Domestic Debt (Jul 10)

Repatriated Profit (Jul- Aug 10)

LSM Growth (Jul 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.99bn

12.79%

$3.56bn

$6.25bn

$(2.69)bn

$(944)mn

$1.72bn

$267.10mn

Rs 185bn

$55.63bn

Rs 4705.40bn

$100.90mn

3.05%

4.10%

$1,051

170.73mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

18.00

2.00

1.70

9.61

PKR/Shares

111.62

154.55

42.93

36.49

33.00

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)

06-Oct-2010

06-Oct-2010

06-Oct-2010

29-Sep-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

07-Oct-2010

12.83%

13.07%

13.22%

13.50%

12.70%

13.00%

13.21%

13.60%

13.71%

13.83%

13.91%

13.99%

14.23%

14.38%

14.58%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 83.30 84.00

Canadian $ 84.05 84.90

Danish Krone 14.90 15.10

Euro 118.00 119.00

Hong Kong $ 11.00 11.30

Japanese Yen 1.018 1.044

Saudi Riyal 22.85 23.00

Singapore $ 64.95 65.10

Swedish Korona 12.00 12.50

Swiss Franc 86.00 87.00

U.A.E Dirham 23.30 23.60

UK Pound 136.00 137.00

US $ 86.30 86.50

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 84.48 84.68

Canadian $ 84.92 85.12

Danish Krone 15.95 15.99

Euro 119.48 119.76

Hong Kong $ 11.07 11.09

Japanese Yen 1.031 1.033

Saudi Riyal 22.89 22.95

Singapore $ 65.52 65.67

Swedish Korona 12.81 12.84

Swiss Franc 89.21 89.42

U.A.E Dirham 23.37 23.43

UK Pound 136.16 136.48

US $ 85.86 86.05

Inter-Bank Currency Rates

Subscribe now

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Global Indices

ISLAMABAD: NationalAssembly on Thursdaypassed a bill named SackedEmployees (Reinstatement)Bill 2010 to provide relief toworkers who were dismissedfrom services during secondterm of Nawaz Sharif govern-ment while Opposition inHouse said that this wouldburden treasury with Rs17billion.

Speaking on the floor of theHouse, Prime Minister Gilanicongratulated entire nation onpassing of Bill, and said that heis not afraid of anyone, and ifproviding employment tomasses is a sheer crime then hewill undoubtedly repeat the

crime on a number of occasionsurging PPP manifesto is 'RotiKapra and Makaan'.

Providing employment is oursheer goal and mission, theseviews expressed by PrimeMinister Syed Yousuf Raza

Gilani in the NationalAssembly on Thursday.

Government, he said hasimplemented 80 per cent ofCharter of Democracy, addingwe will make sure that

See # 7 Page 11

Restitution of firedworkers to cost Rs17bnl Most employees dismissed during Sharif’s regimel If providing jobs is crime then I will repeat it: PM

2 blasts,14 deaths,a conspiracy:Home Minister

Staff Reporters / Agencies

KARACHI: At least 14 peo-ple were killed and 70 othersinjured in two blasts at theshrine of Abdullah Shah Ghazi

in Clifton, police and witness-es said Thursday.

The back-to-back blastsoccurred within minutes atthe shrine's gate at about 7:00pm, witnesses said.

The blasts caused a stam-pede among the crowds. Thefirst blast hit the entrance ofthe shrine while the secondone took place inside theshrine.

Police suspect a suicidebomber blew himself up at

central gate of the shrine whilethe second attacker detonatedthe bomb in the premises ofthe shrine, damaging a numberof shops.

Rescue sources said deadbodies were shifted to JinnahMedical Center where emer-gency had been declared.

More than 50 injured peoplewere shifted to Jinnah hospi-tal, in-charge emergencyward Seemi Jamali told medi-amen.

Eyewitnesses said subse-quent stampede injureddozens of people including,women and children.

Edhi and other rescue teamsarrived at the scene and rushedthe injured to hospitals. Heavycontingent of police andRangers cordoned off the area.

A large number of poor anddeserving people as well asothers gather at Abdullah ShahGhazi's shrine everyday and

See # 6 Page 11

Terror visits Abdullah Shah Ghazi shrine

BRUSSELS: The EuropeanUnion on Thursday suspendedduties on 75 Pakistani importsas part of an aid-linked pack-age to help the country recoverflood losses.

The unilateral suspension ofduties, available for the nextthree years, concerns importsaccounting for 27 per cent ofPakistan's current imports tothe EU.

Lifting the duties on theproducts, which include tex-tiles, would result in an esti-mated increase of EU importsfrom Pakistan to the tune ofaround 100 million euros, theEU said.

The decision was taken inorder to promote Pakistan'seconomic growth and recovery

in the aftermath of the terriblefloods that made thousands ofvictims in the country.

The range of products for lib-eralisation, which have beenchosen according to the natureof Pakistan's industrial andexport base, include textilesand other industrial productssuch as ethanol.

"This proposal will offer areal boost to Pakistan's eco-nomic recovery while at thesame time take into accountsensitivities of EU industries,"said EU Trade CommissionerKarel De Gucht, who alsoinsisted on the EU capacity tooffer critical assistance to glob-al partners.

The commission is expected See # 10 Page 11

EU duty-frees 75Pak import items

Suspension of duties available for next 3yrs

ISLAMABAD: ChairmanFederal Bureau of Revenue(FBR), Sohail Ahmad saidThursday that during the firstquarter of current financialyear 2010-11, FBR hasrealised Rs290 billion againstthe set target of Rs295 billion.

He was talking to media per-sons after a seminar on'Protection against harassmentof women at workplace' hereat National LibraryAuditorium.

The Chairman FBR said thatthe shortfall of Rs5 billion wasdue to the recent catastrophic

floods that have caused lossesto the country's economy andtax collection process alsoaffected.

He said that the current col-lection of taxes was about 9 to10 per cent higher when com-pared to same period of lastfiscal year.

He however expressed thehope the process of tax collec-tion would increase after 3-4month when the rehabilitationwork in flood affected areaswould be completed.

Earlier addressing the See # 11 Page 11

FBR actualisesRs290bn in 1Q

Collection falls short of target by Rs5bn due to floods

No FloodBonds on

cards: CDNSISLAMABAD: The Central

Directorate of the National

Savings said on Thursday that

there is no plan under considera-

tion or in process to issue "Flood

Bonds" by the organisation.

The news regarding the

issuance of Flood Bonds are

baseless, Director of CDNS

Bonds Schemes, Tahir Ali

Bajwa told APP here on

Thursday.-APP

Top armybrass looks

into securityRAWALPINDI: Military

leadership has voiced full sat-

isfaction over the professional

preparedness of armed forces

and professional matters and

reiterated the resolve Pakistan

would ensure its defence, sov-

ereignty and security at every

cost and army will continue its

work on rehabilitation proj-

ects in flood hit areas.

Monthly Corps

Commanders Conference was

held here Thursday under the

Chief of Army Staff Gen

Ashfaq Parvez

See # 14 Page 11

Interpolwarrantsarrests of

5 PakistanisNEW DELHI: Interpol noti-fied its members Thursday thatIndia has issued arrest warrantsfor five Pakistani citizens,including two army officers,for alleged involvement in the2008 Mumbai terror attacks, anofficial said.

India asked Interpol to issuethe so-called ''red cornernotices'' for the five Pakistanis,said RK Gaur, a spokesman forIndia's Central Bureau ofInvestigation.

The notices follow a probe byIndia's National InvestigationAgency into the role ofAmerican David ColemanHeadley, who pleaded guilty inthe United States in March toparticipating in the planning of

See # 15 Page 11

Staff ReporterKARACHI: Pakistan's foreignexchange reserves touchedrecord $16.99 billion in the weekending October 1, up from$16.79 billion the previous week,the central bank said Thursday.

Reserves held by State Bankof Pakistan (SBP) rose to arecord $13.15 billion from$12.99 billion, while those held

by commercial banks jumped to$3.84 billion from $3.80 billion,said Syed Wasimuddin, chiefspokesman of the SBP.

"The rise is due to the contin-uously rising inflow of remit-tances, as well as the inflow ofa grant of $16.6 million fromthe United Kingdom to bespent on education in the

See # 12 Page 11

FX reservesvault to $17bn

WASHINGTON: Pakistan hasmade some progress in stabilis-ing the economy in difficultcircumstances but it needs tostick to bold reforms tostrengthen the fundamentals ofthe economy, the InternationalMonetary Fund said Thursday.

The Fund also signaled itsopenness to negotiating anoth-er programme and said fifthreview of the ongoing $11.3billion programme is possiblelater this year if sufficientprogress is made.

The last tranche of $1.7 bil-lion will be reimbursed to

Pakistan after the fifth reviewis completed.

Adnan Mazarei, IMFMission Chief to Pakistan,underlined the importance ofkeeping the inflation undercheck and pursuing tax reformsincluding general sales tax.

He said all these decisionsare for Pakistanis to make intheir interest. "In the past cou-ple of years Pakistan has hadsome success in stabilizingeconomy but these should notbe temporary," Adnan Mazarei,IMF Mission Chief to Pakistan

See # 18 Page 11

IMF terms reformsas economy-saving

Last tranche worth $1.7bn after fifth review

Fund ready to discuss a new package

Ghulam Raza Rajani

KARACHI: The consumptionof petroleum products duringJuly-September in the countrydepicted a decline of 7.1 percent as unveiled by the OCACnumbers for 1QFY11.

The total volume of the POL

products (ex non-energy) wasrecorded 4.68 million tonnes in1QFY11 against 5.03 millionin 1QFY10.

This was mainly due to post-flood effects which hamperedconsumption due to poor logistic.

According to the data, sales See # 17 Page 11

Oil consumptiondown 7pc in 1Q

All Khi shrines sealedStaff Reporter

KARACHI: Sindh Home Minister Dr. Zulfiqar Mirza toldmedia men after the blast that all shrines in the metropolis havebean sealed.

Meanwhile, Secretary Auqaf Sindh said that they have notreceived any security threat from the Interior Ministry and therewere no security cameras installed inside the shrine.

He also said that the Auqaf Department has deployed its ownsecurity guards which were killed in the attacks.

Special Correspondent /Agencies

KARACHI: President AsifAli Zardari has dismissedrumours about “change” as anegative campaign by somevested interests, emphasisingthat the right-wing elementswere trying to destabilise thegovernment.

The President said in an

exclusive interview with alocal magazine that the gov-ernment and PPP had madetireless efforts to provide suc-cour during the nationwidefloods in the recent monsoonseason.

"That is a negative campaignto weaken our stance anddemocracy", he said in reply toa question about rumours ofdissolution of the government

during the course of the inter-view carried in the prestigiousmonthly magazines's Octoberissue.

The interview, covering awide range of topics, was con-ducted in the second half oflast month and was availablein the magazine's Octoberissue a couple of days back.

The President remarked thatthe right-wing elements in

society had got together todestabilise the government.

"There is a challenge by therightist forces to democracy.Democracy per se does not suitthe rightists. And these forcesget together and then there areinterest groups.

Pakistan Peoples Party andthe political powers of the daycannot afford that any institu-tion or individual or class of

media dictate to them, thattomorrow's prime minister willbe made by them.”

“If the ruling party had notbeen working in Sukkur or inJacobabad, do you think thesepeople would have been alivetoday?" he said in reply to thequestion about the flood-disas-ter management.

President Zardari alsodeplored the unfounded specu-

lations concerning so-calledcivil-military disconnect inflood management when thenatural disaster had hit largeparts of the country.

If at all there is a disconnectit is "between the media, thepeople and the pseudo-intel-lectuals", he said.

He termed the military's anti-Taliban campaigns in Swat and

See # 13 Page 11

Rightists wronging the govt: ZardariPresident says everyone knows about political actors and 'I am looking for a director'

Our reply to Indiandossier, soon: Malik

Karachi, Friday, October 8, 2010, Shawwal 28, Price Rs12 Pages 12

Cement up by

Rs10-15/bagAhmed Siddique

KARACHI: Cement manufac-turers have recently raisedcement prices by Rs 10-15 perbag in North.

As per sources, cement-play-ers have increased retail pricesduring last few days. Cementprices have jumped from Rs315per bag to Rs330 per bag inrecent days.

Surprisingly, recent hike incement prices came at a timewhen cement offtake hit 21-month low in the month ofSeptember.

See # 9 Page 11

NA passes Sacked Employees (Reinstatement) Bill

Reserves hit all-time high of $16.99bn Sept CPI mayhit 17-mth

peakISLAMABAD: Pakistan's con-

sumer price index (CPI) could

reach 17-month high because of

an increase in food prices fol-

lowing the country's massive

floods, a Reuters poll shows.

September consumer prices

rose 14.95 per cent from last

year, according to a survey of 12

analysts and economists. The

CPI rose by 13.23 per cent in

See # 8 Page 11

2 Friday, October 8, 2010

TV PROGRAMMES

FRIDAY

Time Programmes

7:00 News8:00 News9:05 Subah Savere

Maya ke Sath11:00 News12:00 News13:10 Newsbeat

(Rpt)14:10 Tonight With

Jasmeen (Rpt)15:00 News16:00 News17:30 Samaa Metro18:00 News18:30 Samaa Sports19:30 Crime Scene20:03 Newsbeat21:00 News22:03 Awam Ki

Awaz23:00 News23:30 24

Tauseef Razi Mallick

KARACHI: The ViceChancellor of KarachiUniversity, Prof DrPirzada Qasim RazaSiddiqui on Thursday vis-ited the Department ofMass Communication andhad an informal meetingwith the teachers and stu-dents to inquire about thedevelopmental activities atthe department.

At this occasion, DrPirzada Qasim askedChairperson Dr Rafia Taj toprovide all details of the labdevelopment plan, so thatthe University may be ableto make them available to

the students. He also visitedthe classrooms and askedabout the teaching method-ology and availability ofdigital modern equipmentto the students.

A student of the MassC o m m u n i c a t i o nDepartment, Hina MujeebAlam, pointed out that dueto lack of availability ofdigital modern camerasstudents face difficulties inperforming their practicals.

In response, the ViceChancellor directed theChairperson of theDepartment to discuss thematter so that urgentavailability of therequired equipment can be

made possible.The visit by Pirzada

Qasim was basically a fol-low up to the suggestionsmade before GovernorSindh Ishrat-ul-Ebad lastweek, where the governorvowed to provide the basiceducational facilities tothe students and also toupgrade the outdatedequipment in the depart-ment's TV lab.

He said that we are tryingto provide assistance to allthe students, an evidenceof which is the FM Radiosetup in the Departmentwhich was imported fromGermany despite the finan-cial constraints.

KU VC inspectsMass Comm Dept

KARACHI: PresidentKarachi Chamber ofCommerce & Industry(KCCI) Muhammad SaeedShafiq and other seniorleaders of the KarachiChamber have cautionedthat Pak-Afghan TransitTrade Agreement (PATTA)will be acceptable onlywhen businessmen getassurance against misuse oftransit facility by Afghanimporters or exporters.

In a joint statementthrough KCCI here onThursday, the KCCI lead-ers who included ChairmanBusinessmen Group inKCCI and former presidentKCCI Siraj Kassam Teli,

and former presidents TahirKhaliq, Zubair Motiwala,Haroon Farooki and AnjumNisar , Senior VicePresident Talat Mahmood,Vice President JunaidEsmail Makda re-iteratedthat ATTA would only beacceptable if KCCI's earliersuggestions safeguardingthe interests of Pakistan'sbusiness and industrialcommunity are includedand executed under AfghanTransit Trade Agreement.

The statement issued byKarachi Chamber ofCommerce and Industrysaid the ATTA would onlybe beneficial for Pakistan ifproper tariffs and duties are

imposed and effectivemonitoring of trucks isdone.

LCs should be imposedfrom Kabul to Wagahcheck point and properimplementation and docu-mentation carried out. TheIT based chip system forthe proper tracking oftrucks in transit stands as amandatory requirement inthis regard. Moreover, thelock and key should bemade at entrance (Torkhamborder) with a seal fromGovernment of Pakistanseal and be properly moni-tored on exit (Wahgah bor-der) that the seal is stuckand not broken.-APP

Khi Chamber voicesconcerns over PATTA

Staff Reporter

KARACHI: PresidentAsif Ali Zardari hasannounced B.B(Benazir Bhutto)

Journalism card, (lifeinsurance and aid facil-ities for journalists)and plots for electronicmedia representatives.

In a meeting with

journalists in BilawalHouse on Thursday, heannounced that FarzanaRaja would issue direc-tives in this regard. ThePresident was told that

directives had alreadybeen issued to CMSindh, Qaim Ali Shahregarding plots forjournalists of electronicmedia.

President announcesBB Journalism Card,plots for mediamen

LAHORE: The LahoreChamber of Commerceand Industry has wel-comed the Federal Boardof Revenue decision tocontinue the zero-ratingarrangement for export-oriented industries evenafter the imposition ofReformed General SalesTax (RGST).

In a statement issuedhere, the LCCI PresidentShahzad Ali Malik, SeniorVice President SheikhMohammad Arshad andVice President SohailAzhar said that the zero-rating facility was one ofthe major concessions forthe exporting industry andif it was withdrawn, itcould have an adverseimpact on the export-ori-ented industry.

"It would be wiser on thepart of the FinanceMinister if he comes upwith a package of incen-tives for the business com-munity that is facing mul-tiple internal and externalchallenges."

The LCCI office-bear-ers, however, urged thegovernment to keep theRGST pending till the timethe trade and industry getback on its feet because inthe present economic sce-nario the businesses cannot afford any new taxmeasure.

The LCCI office-bearerssaid that the present gov-ernment would have tofocus on implementationof home-grown policiesinstead of taking dictationsfrom the IMF and the

World Bank because theyhave little understandingof the ground realities.They also suggested to thegovernment to look at themarkup figure (13.5 percent) and fast going upenergy tariff that were hit-ting the competitiveness ofPakistani merchandise inthe international marketthe profit margin generallyis not more than one percent.

"If the equity would notbe made available to thebusiness community atcheaper rates, how onewould be able to initiateany new venture that is amust for breaking thevicious circle of povertyand for creating much-needed job opportuni-ties."-Agencies

LCCI welcomesFBR’s decision

KARACHI: CityDistrict GovernmentKarachi (CDGK) hassought the approval for12 new mega projectscosting Rs2billion whichwill begin in the currentfinancial year afterapproval from SindhGovernment The proj-ects include the con-struction of 4 new fly-overs, 6 major road,installation of stormwater drainage systemand construction ofcauseway at Malir River.

This was stated byKarachi AdministratorFazlur Rehman whileaddressing the meetingof officers of Works &Services Department inDCO Camp Office onThursday.

The meeting was calledto review and discuss theongoing developmentprojects and start of newprojects in the city.During a briefing on thisoccasion the EDO Works& Services said that allthe ongoing projects willcomplete on time.

Administrator Fazlur

Rehman directed theofficers to ensure timelycompletion of develop-ment projects by acceler-ating the pace of workand to carry on the plan-ning for new projects.

He said that the citygovernment will con-struct a flyover atKorangi Crossing withthe cost of Rs350millionin this year while anoth-er flyover will be builtnear Abbasi ShaheedHospital in Nazimabadwith the same estimatedcost. "The flyover atIbne-Sina Road, KorangiNullah and Gujjar Nullahwill have an estimatedcost of Rs200million" hesaid.

City Government willalso construct manymajor roads includingfrom Model ColonyAvenue to KhokhraparMalir with a cost ofRs100million, fromParacha Chowrangi toNorthern Bypass HubRiver Road Phase-I witha cost of Rs300million,from MosamyatChowrangi to

Superhighway (4.5kmroad) with a cost ofRs200million.

Repair of flyoverDuring the meeting

Administrator FazlurRehman, while takingstrict notice of the break-ing of Sharae Faisal-Rashid Minhas RoadFlyover directed EDOWorks & Services toappoint the consultantwithout delay so that therepair of flyover, changeof its roof or construc-tion of new flyover couldbe decided. The EDOW&S on this occasionsaid that the bridge wasnot having any seriousproblem and it was onlydue to the plying of moreheavy goods carrier andtrailers on this bridgethat has caused someproblem and this will besolved with the changeof slab of flyover. Hefurther said that planningwas underway in coordi-nation with the trafficpolice to provide alter-nate way for heavy trail-ers and goods carriers.-Agencies

CDGK seeksapproval of

Rs2bn projects

Staff Reporter

KARACHI: ProvincialMinister for TourismSindh, Shazia Marri hasstrongly condemned thebomb blasts near the shrineof Sufi saint AbdullahShah Ghazi in Clifton areaof Karachi and expressedgrief and sorrow over theloss of precious lives.

While talking to TheFinancial Daily, Marri saidsuch heinous acts of vio-lence is a reflection ofderanged minds of terror-ists who have no regardfor humanity. These ele-ments do not believe in

any religion and only wantto create disruption in thesociety.

Tourism minister termedit a barbaric and shamefulact of terrorism, saying theelements involved in suchactivities as the enemies ofhumanity and the country.

She said such shamefulacts could not deter theGovernment from its firmresolve to fight terrorism.

Shazia Marri prayed toAlmighty Allah to rest thedeparted souls in eternalpeace and sympathisedwith bereaved families andprayed for early recoveryof the injured.

Marri condemnsKarachi blasts

KARACHI: In support ofthe growing ICT industryand the young entrepre-neurs nationwide, wi-tribeis sponsoring P@SHAICT Awards 2010 startingtoday, the flagship event ofthe Pakistan IT & ITESindustry. It is held torecognise and celebratethe innovation that is tak-ing place within the tech-nology sector.

In addition to the spon-sorship, wi-tribe will offerWi-Fi connectivity at thevenue, as well as live-stream the event, allowingmillions of internet usersto watch the P@SHA ICTAwards 2010 from anywhere.wi-tribe is proud ofits association withP@SHA ICT Awards 2010and truly appreciates therole that P@SHA has beenplaying in promotingPakistan's ICT sector.

Speaking about thesponsorship, wi-tribe

Pakistan's Director ofMarketing, Ali Fahd said,"wi-tribe decided to sup-port P@SHA because wefeel that both organiza-tions in their own sphereaim to make a notablecontribution towardsPakistan's ICT industry.While P@SHA provides aplatform for promoting,protecting and developingthe software industry inPakistan wi-tribe isfocused towards takingconvenient and reliablebroadband services to themasses."

Commenting on the col-laboration, PresidentP@SHA, Jehanara said,"I'm happy about the sup-port wi-tribe is extendingfor our event. It is tremen-dous to see technologycompanies such as wi-tribetaking a keen interest incollaborating with ITIndustry associations likeP@SHA.-PR

Wi-tribe patrons P@SHA Awards

FRIDAY

Time Programmes8:00 Pakistan Aaj

Raat

9:00 News

9:15 Pehla Sauda

10:00 News

10:15 Bazaar

11:00 News

11:05 Ghar Ka Kharch

12:00 News

12:15 Akhri Suada

13:00 News

13:05 Islamabad Say

14:00 News

14:05 Sara Jahan

(Rpt)

15:00 News

15:15 Power Lunch

16:00 News

16:05 Akhri Suada

16:30 Uff Tv(Rpt)

17:00 News

17:05 Ghar Ka Kharch

18:00 News

18:15 Karobari Dunya

19:00 Headlines

19:05 Filmi Samaa

(Rpt)

19:30 Red Carpet(Rpt)

20:00 Headlines

20:05 Islamabad Say

21:00 Pakistan Aaj

Raat

22:00 Headlines

22:05 Dosra

Pehlu(Rpt)

Malaysiasupportingagri-sector

ISLAMABAD: TheMalaysian HighCommissioner DatoAhmad Anwar Bin Adnanreiterated his government'sresolve to support fordevelopment of agriculturein Pakistan.

A Malaysian delegationled by High Commissionervisited ZTBL and called onMuhammad Zaka Ashraf,President, Zarai TaraqiatiBank Limited here onThursday.

Zaka Ashraf explainedthe special role of the Bankin the agriculture sector,which was the only institu-tion playing a vital role byproviding a combination oftechnology along withcredit for enhancing theagriculture productivity.

The President informedthat ZTBL has an extensiveoutreach through its coun-try wide network of 353branches and over 1300MCOs contributingtowards helping the smallfarmers even in the remoteareas of Pakistan.

The model of privatepublic partnership and col-laboration with internation-al agencies was shared withthe delegation.-PR

Denguecases on

the rise inmetropolis

KARACHI: Patients withdengue fever continued tovisit frequently differenthospitals in the city and 46of them were admitted onThursday due to theirhealth status, said DrShakeel Mallick,Coordinator, SindhDengue Surveillance Cell.

"These 46 fresh admis-sions has turned the totalnumber of admittedpatients to 153 as 97 peo-ple were already hospi-talised," he said in a com-munication.

He said the number ofsuspected patients sinceJanuary one is 1740 andthese include 1358 who hadto be hospitalized at one orthe other point of time.

Dr Mallick said bloodsamples of 1740 peoplesuspected to be sufferingfrom dengue fever weretested at different privateand public sector laborato-ries and 825 of them werefound to be positive.

The DengueSurveillance Cell'sCoordinator said 17patients were admitted toAbbasi Shaheed Hospitalon Thursday and five eachat JPMC and KarachiAdventist Hospital, sevenat Ziauddin Hospital, twoeach at Holy Family andKutyana Memon Hospitalsand one each at LiaqutNational and SindhGovernment QatarHospital respectively.

He said five of thepatients had died of theailment during past fewweeks in the city while 45other are being presentlytransfused with megaplatelet due to markeddecline in blood cells.-APP

Ufonelaunches

youth offerISLAMABAD: Ufone hasonce again taken a lead inoffering this unique andmost pocket friendly offerfor its valued Uth cus-tomers and has broken thebarrier towards the focuson friends and familyoffers by launching 'UthMufta Offer', said a hand-out issued here.

Akbar Khan ChiefMarketing Officer, whilecommenting at its launchsaid, "Ufone has been atthe forefront of all pricingand VAS initiatives eversince its launch almost tenyears ago years and shallremain the trendsetter indays to come". "This offeris sure to pull the youthfrom around the country toavail the best package inthe industry", he added.

While the rest of theindustry is focusing on dis-counted or free calls to just2 or 3 friends and familymembers, Ufone hasallowed free calls to mil-lions of customers on itsUth package.

Calls from Uth to Uthbetween 12:00am to9:00am are absolutely freeand from 9:00am to12:00am only the firstminute is charged and therest of the call is free there-after.-PR

PLGMEAwelcomesTDAP’s

new chiefKARACHI: Fawad IjazKhan Chairman PakistanLeather GarmentsManufacturers & ExportersAssociation (PLGMEA)felicitated the newlyappointed Chief Executiveof Trade DevelopmentAuthority of Pakistan(TDAP) Tariq Iqbal Puri onhis appointment.

Tariq Puri is a seasonedCommerce Professionalwho has served as ViceChairman ExportPromotion Bureau (EPB).During his tenure as ViceChairman EPB PLGMEAhad active liaison with theEPB and our memberswere happy with his posi-tive approach in solving theproblems of Exporters. Hisexperience as TradeMinister in Brussels,Commercial Counselorabroad and EPB has pro-vided him valuable knowl-edge about the Export busi-nesses and their problems.

Fawad hoped that TariqPuri's term as ChiefExecutive TDAP is morefruitful than the term ofoutgoing Chief ExecutiveSyed Mohibullah Shahwhich was full of internalcontroversies and he hardlyhad any time to meet therepresentatives of theExport Associations.-PR

KARACHI: Sindh Chief Minister Syed Qaim Ali Shah holding meeting withvice Chancellors of Medical Universities / Principals of Medical Colleges for

Admission Policy for students at Chief Minister House.-APP

FBR continues zero-rating over exports

TAIPEI: The Taiwan dollar hita 27-month closing high onThursday, tracking gains inregional currencies as fundflows chased yield, but centralbank intervention pared itsgains from earlier higher lev-els.

Taiwan's central bank hasintervened in the market heavi-ly in recent sessions as a surgein recent sessions threatened tohurt exporters.

In addition to issuing verbalwarnings, the bank wasinspecting the currency for-ward businesses at local andforeign banks as part of itscampaign against what it seesas destabilising "hot money"flows, a source with directknowledge of the move saidearlier in the day.

"The central bank can onlyslow down gains of the Taiwandollar, but not its rising trend,"said an analyst at a local bank.

The local currency ended upT$0.09, or 0.289 per cent toT$31.042, its highest levelsince early August 2008, afterbeing pulled back from a dayhigh of T$30.675 or almost a1.5 per cent gain.

Taiwan's central bank joins

other Asian emerging marketsauthorities in taking aim atfund flows as they seek to pro-tect their exporters from risesin currencies. South Korea wasseen intervening Wednesday asthe won hit a five-month highagainst the US dollar.

While the local currencyextended its rally, Taiwanstocks took a breather from theprevious session's nine-monthclosing high.

The broader market endedflat to 8,282.92. Profit-takingsent the construction sub-indexdown 1.2 per cent.

Smartphone maker HTCCorp topping the most activelist by turnover, rose 1.1 percent. HTC said its third-quarternet profit almost doubled.

The financial sub-indexgained 0.57 per cent.-Reuters

Taiwan dollar hits

27-mth closing high

3Friday, October 8, 2010

Currency Rates

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 07/10/2010

A USD GBP CAD EUR JPY

O/N 0.22500 0.55000 1.05375 0.37250 SN 0.09750

1WK 0.25025 0.55500 1.07333 0.60875 0.10875

2WK 0.25169 0.56000 1.10333 0.63375 0.11625

1MO 0.25625 0.57125 1.12417 0.68969 0.13000

2MO 0.27297 0.62838 1.16750 0.75250 0.16000

3MO 0.28906 0.73881 1.23417 0.90313 0.20375

4MO 0.34375 0.82209 1.28750 0.97000 0.28938

5MO 0.40719 0.92500 1.34667 1.05688 0.34938

6MO 0.45875 1.02750 1.41000 1.16375 0.41000

7MO 0.50656 1.10350 1.47917 1.21000 0.47000

8MO 0.55806 1.18469 1.55667 1.25875 0.51938

9MO 0.60688 1.26625 1.62417 1.30625 0.56813

10MO 0.65988 1.34031 1.69250 1.35625 0.59813

11MO 0.71469 1.40781 1.77917 1.40250 0.62500

12MO 0.77150 1.47344 1.86000 1.44625 0.65313

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

U.S.A. 86.05 85.85 85.66U.K. 136.48 136.16 135.85EURO 119.76 119.48 119.20CANADA 85.12 84.92 84.70SWITZERLAND 89.42 89.21 88.97AUSTRALIA 84.68 84.48 84.26SWEDEN 12.84 12.81 12.78JAPAN 1.04 1.04 1.03NORWAY 14.81 14.78 14.74SINGAPORE 65.67 65.52 65.34DENMARK 15.99 15.95 15.91SAUDI ARABIA 22.95 22.89 22.83HONG KONG 11.09 11.07 11.04CHINA 12.86 12.83 12.80KUWAIT 303.47 302.77 301.97MALAYSIA 27.85 27.79 27.71NEW ZEALAND 64.41 64.26 64.09QATAR 23.64 23.58 23.52U.A.E. 23.43 23.37 23.31KR WON 0.08 0.08 0.08THAILAND 2.87 2.86 2.86

London Inter Bank Offered Rates (LIBOR)

Name Bid Ask High Low

EUR-USD 1.3899 1.3903 1.4030 1.3860

EUR-GBP 0.8764 0.8767 0.8805 0.8737

EUR-CHF 1.3443 1.3447 1.3492 1.3368

EUR-JPY 114.5 114.53 115.66 114.26

USD-CHF 0.9668 0.9672 0.9698 0.9557

USD-CAD 1.0186 1.0191 1.0209 1.008

GBP-USD 1.5861 1.5866 1.6017 1.5931

GBP-JPY 130.63 130.69 131.85 130.5

AUD-USD 0.9819 0.9822 0.9897 0.9760

EUR-CAD 1.4157 1.4162 1.4173 1.4062

CHF-JPY 85.13 85.19 86.33 85.00

Gold 1335.33 1336.08 1364.13 1325.68

Silver 21.97 22.00 0.00 0.00

As per 22.00 PST

Time Source Events Forecast Previous

0:00 USD Consumer Credit m/m -2.9B -3.6B

4:50 JPY Monetary Policy Meeting Minutes

4:50 JPY Monetary Policy Meeting Minutes

4:50 JPY Current Account 1.09T 1.46T

7:30 AUD RBA Deputy Gov Battellino Speaks

10:00 JPY Economy Watchers Sentiment 44.8 45.1

10:45 CHF Unemployment Rate 3.7% 3.8%

11:00 EUR German Trade Balance 12.3B 12.7B

11:45 EUR French Gov Budget Balance -93.1B

13:30 GBP PPI Input m/m 0.3% -0.5%

13:30 GBP PPI Output m/m 0.2% 0.0%

Source Events Actual Forecast Previous

AUD AIG Construction Index 40.8 43.2

CNY Bank Holiday

AUD Employment Change 49.5K 20.2K 31.6K

AUD Unemployment Rate 5.1% 5.1% 5.1%

JPY Leading Indicators 99.1% 100.0%

JPY Prelim Machine Tool Orders y/y 112.9% 170.0%

EUR French Trade Balance -4.9B -4.0B -4.4B

Previous Day

Top Economic Events

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Oct 19 2010 Sep 08 2010 1%

European Central Bank Nov 04 2010 May 07 2009 1%

Federal Reserve Nov 03 2010 Dec 16 2008 0.25%

Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%

Bank of England n/a Mar 05 2009 0.50%

The Reserve Bank of Australia n/a May 04 2010 4.50%

Bank of Japan n/a Oct 05 2010 0%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, October 07,2010 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

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

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

ABPL 11.40 11.90 11.60 12.10 12.10 12.65 12.80 13.05 12.90 13.20 13.10 13.60 13.20 13.70 13.30 13.80

ABLN 11.25 11.75 11.70 12.20 12.10 12.60 12.75 13.00 12.95 13.20 13.10 13.60 13.25 13.75 13.35 13.85

JSBL 11.60 12.10 11.80 12.30 12.25 12.75 12.75 13.00 13.10 13.35 13.10 13.60 13.15 13.65 13.50 14.00

ASPK 11.50 12.00 11.75 12.25 12.30 12.80 12.80 13.05 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80

CIPK 11.40 11.90 11.75 12.25 12.25 12.75 12.75 13.00 13.05 13.30 13.10 13.60 13.20 13.70 13.30 13.80

DBPK 11.30 11.80 11.50 12.00 12.00 12.50 12.65 12.90 12.90 13.15 13.15 13.65 13.25 13.75 13.35 13.85

FBPK 11.25 11.75 11.50 12.00 12.00 12.50 12.60 12.85 13.00 13.25 13.10 13.60 13.15 13.65 13.40 13.90

FLAH 11.30 11.80 11.70 12.20 12.20 12.70 12.80 13.05 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80

HBPK 11.40 11.90 11.70 12.20 12.35 12.85 12.75 13.00 13.00 13.25 13.10 13.60 13.20 13.70 13.35 13.85

HKBP 11.40 11.90 11.80 12.30 12.30 12.80 12.80 13.05 12.90 13.15 13.10 13.60 13.20 13.70 13.30 13.80

NIPK 11.25 11.75 11.75 12.25 12.55 13.05 12.80 13.05 13.00 13.25 13.05 13.55 13.10 13.60 13.20 13.70

HMBP 11.70 12.20 11.90 12.40 12.50 13.00 12.80 13.05 13.10 13.35 13.20 13.70 13.30 13.80 13.40 13.90

SAMB 11.40 11.90 11.60 12.10 12.00 12.50 12.75 13.00 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85

MCBK 11.25 11.75 11.50 12.00 12.25 12.75 12.70 12.95 12.95 13.20 13.10 13.60 13.20 13.70 13.40 13.90

NBPK 11.40 11.90 11.75 12.25 12.20 12.70 12.75 13.00 12.80 13.05 13.10 13.60 13.20 13.70 13.30 13.80

SCPK 11.40 11.90 11.60 12.10 12.15 12.65 12.65 12.90 12.90 13.15 13.10 13.60 13.20 13.70 13.35 13.85

UBPL 11.35 11.85 11.60 12.10 12.10 12.60 12.65 12.90 12.95 13.20 13.15 13.65 13.25 13.75 13.35 13.85

AVE 11.36 11.86 11.68 12.18 12.20 12.70 12.75 13.00 12.96 13.21 13.10 13.60 13.21 13.71 13.34 13.84

Karachi Inter Bank Offered Rates (KIBOR)

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)07/10/2010

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

1 week 0.19 0.8 0.97 0.97 0.57 0.96 -0.94 -0.651 month 0.96 0.94 0.98 0.93 0.96 0.87 -0.8 -0.963 months 0.81 0.31 0.8 0.72 0.76 0.81 -0.66 -0.676 months 0.88 0.04 0.57 0.58 0.78 0.76 -0.64 -0.711 year 0.53 0.81 0.85 0.92 0.88 0.59 0.26 -0.662 years 0.37 0.52 0.48 0.78 0.71 0.39 -0.25 -0.63

Currencies CorrelationEUR/USD

CMKA BMA INVSR GSL ICSL JSCM AvgRate

0-7days 11.65 11.60 11.75 11.75 11.60 11.65 11.67

8-15dys 11.90 11.75 11.85 12.00 11.90 11.75 11.86

16-30dys 12.35 12.20 12.15 12.25 12.35 12.25 12.26

31-60dys 12.65 12.50 12.30 12.68 12.55 12.60 12.55

61-90dys 12.80 12.56 12.60 12.65 12.65 12.63 12.65

91-120dys 12.90 12.80 12.70 12.90 12.80 12.83 12.82

121-180dys 13.05 12.90 12.98 13.10 13.05 12.98 13.01

181-270dys 13.10 13.00 13.03 13.15 13.15 13.03 13.08

271-365dys 13.15 13.10 13.16 13.20 13.25 13.16 13.17

2-- years 13.45 13.45 13.45 13.40 13.45 13.45 13.44

3-- years 13.85 13.85 13.85 13.85 13.75 13.85 13.83

4-- years 13.75 13.90 13.64 13.85 13.80 13.65 13.77

5-- years 13.90 13.95 13.95 13.93 13.85 13.90 13.91

6-- years 13.85 13.97 13.78 13.86 13.85 13.80 13.85

7-- years 13.80 13.95 13.75 13.80 13.85 13.75 13.82

8-- years 13.75 13.70 13.65 13.82 13.90 13.65 13.75

9-- years 13.65 13.60 13.62 13.65 13.65 13.62 13.63

10--years 14.00 13.98 13.98 14.00 13.98 13.97 13.99

15--years 14.25 14.20 14.20 14.25 14.25 14.20 14.23

20--years 14.40 14.40 14.40 14.30 14.40 14.40 14.38

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for October 07, 2010

NEW YORK: The US dol-lar's downturn gathered paceon Thursday as it slid to a 15-year low against the Japaneseyen and an all-time lowagainst the Swiss franc on theprospect of the US FederalReserve printing more money.

Broad US dollar sellingpushed the euro to a more thaneight-month high beforeinvestors bet that the rise wastoo far, too fast, while theAustralian dollar surged to a27-year high against its UScounterpart after surprisinglystrong Australian jobs datarevived talk of a Reserve Bankof Australia rate hike.

"The US dollar fell against

all the majors except theCanadian dollar as investors(and) traders try to get in frontof the (quantitative easing)wave everyone expects," saidT.J. Marta, chief marketstrategist atMarta on theMarkets.

The Bank ofEngland and theEuropean CentralBank both stoodpat on their mon-etary policies onThursday, rein-forcing the notion the Fed isfurther along the path toanother round of quantitativeeasing than many other central

banks, a move that wouldknock the dollar lower.

The dollar was at 82.32 yen,down 0.7 per cent, after hittinga 15-year low at 82.11 yen ontrading platform EBS. Traders

said there were options barri-ers at 82.

The euro remained bidagainst the dollar after com-

ments from European CentralBank President Jean-ClaudeTrichet at a news conferenceafter the rate decision, whichinvestors took as indicatingthe euro zone would end stim-

ulus measuressooner thanthe UnitedStates, a sce-nario alreadyw i d e l yexpected.

The dollar'slatest declinemade traders

nervous, as the US currencytraded below the 82.87 yenlevel where Tokyo intervenedfor the first time in six years

on Sept. 15.The dollar fell to an all-time

low versus the Swiss franc of$0.9555 on trading platformEBS.

The Australian dollar surgedto a 27-year high of $0.9918on the back of surprisinglystrong Australian data. Gainsaccelerated after theAustralian currency triggeredstops above its 2008 high of$0.9851 and option barriers at$0.9900.

Sterling hit its highest sinceearly February at $1.6019, ral-lying after the BoE rate deci-sion. It recovered from a five-month low versus the euro. -Reuters

Dollar sinks on prospect ofmore Fed stimulus ahead

MUMBAI: The Indian rupeeon Thursday hit a 25-monthhigh propelled by robust for-eign capital inflows into Asia'sthird-largest economy, withbroad losses in the dollar ver-sus major currencies also sup-porting sentiment.

The partially convertiblerupee closed at 44.1950/2050per dollar, after hitting44.1250, its strongest sinceSept. 8, 2008 and 0.7 per centstronger than 44.49/50 at closeon Wednesday.

"Rupee was strong trackingbroad dollar losses, but therewas some demand fromimporters as well," saidAshtosh Raina, head of foreignexchange trading at HDFCBank in Mumbai. "Rupeeshould trade in a 44.00-44.30range tomorrow."

After rallying to its highestlevel in more than two years,the rupee is probably near itspeak, and is expected to close2010 marginally below currentlevels, a Reuters poll of 42

economists showed onThursday.

The dollar's downtrend gath-ered pace on Thursday as it slidto a 15-year low versus theJapanese yen and an all-timelow against the Swiss franc onthe prospect of more money-printing by the US. FederalReserve.

The index of the dollaragainst six majors was down0.5 per cent when the rupeemarket closed.

Indian shares fell 1.1 per centas investors locked in profitsafter a big rally that had takenthe market to a 33-month highthis week, but traders said theundertone was bullish on surg-ing foreign interest.

Foreign portfolio invest-ments so far in 2010, havereached a record $20.9 billion,in addition to last year's $17.5billion. Of the total in 2010,more than a third has comesince the start of September.The rupee is now up more than5 per cent on year. -Reuters

Indian rupee hits25-mth high

on robust fund

LONDON: Sterling rose above$1.60 for the first time in twomonths on Thursday, aided byfirm factory output and as theBank of England held back fromtaking any further easing meas-ures at its policy meeting, asexpected.

But the pound gave up a largepart of those gains by late after-noon as investors took profits onshort dollar positions, and as

speculation about the possibilityof more quantitative easing per-sisted.

Many suspect the latest BoEdecision was a compromisebetween a three-way policy split.Details of the vote will bereleased in two weeks' time.

Technical analysts atCommerzbank said an upsidebias would persist as long as thepound held the $1.5591 supportline. However, "a close belowhere will suggest a return to$1.5355/$1.5296 (the 200-daymoving average and recentlow)," they said in a note.

By 1503 GMT, sterling was up0.2 per cent to $1.5931, after ris-ing as far as $1.6019, its highestsince early February.

Earlier, the pound was boostedas data showed British manufac-turing output rose for a sixthconsecutive month in Augustand by its fastest annual rate inover 15 years helped ease con-cerns about a faltering UKrecovery.

A report in the Financial Timesthat Britain's coalition govern-ment could delay some of itsplanned public spending cutsuntil later in its five-year parlia-mentary term had weighed onsterling during the Asian session.

The euro's earlier gainshelped push trade-weighted ster-ling to a four-month low TheEuropean Central Bank leftinterest rates unchanged asexpected. ECB President Jean-Claude Trichet did not directlyaddress the euro's recent rise butsaid excess currency volatilitywas best avoided. -Reuters

Stg rises on outputdata, BoE unchanged

SEOUL: The Taiwan dollar andthe Indian rupee hit their highestin over two years on Thursday,leading rises in Asian currencieson fund inflows into the regionand expectations of the FederalReserve's further easing.

The regional authorities wereestimated to have bought acombined $27.6 billion viaintervention from last weekuntil Wednesday, according totraders estimated compiled byIFR Markets.

The Indian rupee strength-ened to 44.115 per dollar, itsstrongest level in 25 months,probably on inflows related to aqualified institutional place-ment by a large automobilecompany, dealers said.

The Taiwan dollar hit a 27-month closing high, trackinggains in Asia as fund flows

chased yield, but central bankintervention pared its gainsfrom earlier higher levels.

The local currency ended up0.3 per cent to T$31.042, itshighest level since early August2008, after being pulled backfrom a day high of T$30.675 oralmost a 1.5 per cent gain. Inaddition to issuing verbal warn-ings, the bank was inspecting thecurrency forward business atlocal and foreign banks as part ofits campaign against what it seesas destabilising "hot money"flows, a source with directknowledge of the move said.

The foreign exchange authori-ties were spotted buying dollarsto check the won's strength, butthe intervention was not asstrong as in previous sessions,some dealers said.

The local unit ended domes-

tic trade up 0.3 per cent at1,114.5 versus the greenbackfrom Wednesday's domesticclose of 1,118.0.

It hit a fresh five-month highof 1,113.5, but weakened to assoft as 1,121.2 as investors cov-ered dollar-short positions.

Thai baht scaled another 13-year high at 29.78 per dollar,making it the second-best Asianperformer in 2010 after the yen,with a 11.6 per cent gain so farthis year. Its rise promptedcentral bank intervention, deal-ers said. "The baht's rise hasbeen so fast that it is perceivedby some as overdone. With theUS non-farm data due tomor-row and US and Japanese holi-days on Monday, people mayplay safe by quaring some posi-tions," a Bangkok-based tradersaid. -Reuters

Asian Currencies

Taiwan dollar,rupee up on inflows

SYDNEY/WELLINGTON: The Australiandollar rallied on Thursday to be within a hair'sbreadth of 27-year highs after an impressivejump in domestic employment revived frenziedspeculation that rate hikes may be in the offing.

The Australian dollar hit stop-loss buy ordersabove $0.9791 to tear as high as $0.9847 afteremployment surged nearly 50,000 in September,more than twice what the market had forecast.

The labour report was especially remarkablebecause the spike in employment was led entire-ly by growth in better-paying full-time jobs, asopposed to part-time employment.

That led the market to bet the Reserve Bank ofAustralia (RBA) could raise interest rates inNovember, appearing to have gotten over its bit-ing disappointment earlier this week when theRBA left rates unchanged despite expectationsfor it to hike.

"The ongoing downward trend in the unem-ployment rate is likely to put pressure on wagesand inflation next year, which in turn willprompt the RBA to lift rates," said Felicity

Emmett, an economist at RBS. Implied rates showed the chance of a

November rate move spiked to 67 per cent, from40 per cent seen on Wednesday.

A break of $0.7640 would put the kiwi at lev-els last seen in July 2008, though any gainsbeyond this could prove a struggle for the cur-rency. "On fundamentals the kiwi is starting tolook fairly overstretched, with the economicenvironment still lacklustre," Jones said.

The jobs figures saw the Aussie jump close toa cent on the kiwi cross to a session high ofNZ$1.3080, before easing back to aboutNZ$1.3045.

Data on Thursday confirmed the sluggishnature of the New Zealand housing market, withthe annual pace of growth slipping for the fifthmonth a row, as buyers and sellers are waryabout entering an uncertain market. NZ govern-ment bonds were generally stronger, trackinghigher US Treasuries on the expectation ofFederal Reserve asset buying, with yields downup to two basis points. -Reuters

Australia $ near 27-yrpeak on jobs surge, yields

Swiss franc

closes to

record highs

against dollarZURICH: The Swiss franchovered close to record highsagainst the dollar on Thursdayas weak US labour market datamade the prospects of quantita-tive easing by the US FederalReserve more likely.

The greenback has comeunder pressure against allmajor currencies on specula-tion the Fed could start a freshround of printing money asearly as next month.

At 0710 GMT, the franc wastrading 0.1 per cent higheragainst the dollar compared tothe New York close at 0.9603per dollar, after hitting an all-time high on Wednesday below0.96, according to Reuters data.

The franc is also close to arecord high on the EBS tradingplatform. Against the euro, thefranc was slightly weaker at1.3420 per euro as marketsawait interest rate decisionsfrom both the Bank of Englandand the European Central Banklater in the session. "If the Bankof England makes dovish com-ments this might have a posi-tive impact on risk appetite,which could ultimately boostthe euro against the franc,"Schubert said. -Reuters

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

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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.

SSGC, KESCslinging

mudOf lately both Karachi Electric Supply

Company (KESC) and Sui Southern GasCompany (SSGC) are trying to settle theirscores by issuing lengthy press releases insteadof trying to arrive at a mutually agreed amica-ble solution. Maybe it's because KESC man-agement knows that the government gets jitterywhen load shedding spells grow longer inKarachi and SSGC also knows that telling thestory of inching towards delinquency can helpin getting the overdue amounts. At the best thisbattle could be termed as a 'futile stunt'.

SSGC faces liquidity crunch and wants all itsdues, including those of KESC to be cleared atthe earliest to bring down its financial cost andundertake revamping of its network to bringdown UFG percentage. If KESC clears all theoutstanding dues and also pays its monthly billsin time most of the woes of SSGC can beresolved. The policy of withholding fuel sup-pliers' dues because KESC is not getting itsreceivables is highly illogical. It must approachthe government for the recovery of dues ratherthan defaulting on payments.

All and sundry knows that KESC's key prob-lems are: 1) transmission and distribution(T&D) losses hovering around 40 per cent, 2)mounting receivables exceeding Rs40 billion,and 3) highly inadequate cash flow for settlingliabilities arising from purchase of fuel andelectricity. The new management has not beensuccessful in overcoming these three con-tentious issues, despite injecting billion ofrupees. However, the management alone can'tbe held responsible for the precarious situationbecause government is not extending therequired support in recovering outstanding pay-ments and removing kundas.

KESC just can't settle its liabilities unless itscash flow improves and it is the collectiveresponsibility of all the stakeholders thatinclude government, fuel suppliers, creditors,and also the consumers. Unless a detailed strat-egy is formulated and necessary steps are takenno improvement in prevailing conditions couldbe expected. In fact the situation is deteriorat-ing fast despite persistent increase in tariff.

KESC is a compact utility involved in gener-ation, transmission and distribution having afranchised area, which is ever bigger thanmany countries. Its entire generation system isthermal based as against some of the other dis-tribution companies enjoying the benefit oflow-cost hydel power. Its franchised area alsohas ethnic concentrations fully supported bythe political parties, when it comes to removalof kundas.

The country can't afford bankruptcy of KESCor SSGC. Hike in electricity tariff has failed inimproving cash flow of KESC. The strategicinvestors of KESC may be the financial wiz-ards but managing a utility is all together a dif-ferent ballgame, especially in Pakistan. Powersector policies in the country are influenced bythe vested interests. To save the system fromtotal collapse intercorporate debt issue must beresolved at the earliest. The sooner the better.

4Friday, October 8, 2010

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

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The Financial Daily InternationalVol 4, Issue 64

Cotton is the mainstay ofPakistan economy. It is thelivelihood of millions of peo-

ple and provides large employmentopportunities to the people of thecountry. It contributes sixty per centof the foreign exchange earning andprovides raw material to the textilemills. A good number of indigenousindustries such as pharmaceuticals,soap, chemical and feed rely heavilyon cotton by-products. Cottonaccounts for 8.6 per cent of the valueaddition in agriculture and approxi-mately 1.6 per cent to GDP. Theprovince of Punjab occupies 80 percent of total area of the land undercotton cultivation and has 78 percent share in the total cotton pro-duced in the country. Pakistan ranksfourth among the top ten cotton pro-ducing countries. The top ten cottonproducing countries are China,United States and India accountingfor about 70 per cent of the total pro-duction.

United States occupies the topposition accounting for 48 per centof cotton exports from top tenexporting countries. China beingranked as number one cotton produc-er occupies the first position amongthe top ten importing countries. Indiahas the distinction of having thelargest area under cotton cultivationin the world ranging between 8.00million to 10 million hectares consti-tuting about 26 per cent of the worldarea under cotton cultivation.Though, Pakistan occupies fourthposition, it is still far behind in pro-ductivity when compared with other

major cotton producing countries i.e.China, India and United States.

The recent devastating flood inPakistan have destroyed one fifth ofthe country's cotton crop. Punjab,produces 78 per cent of cotton cropin Pakistan has suffered the highestlosses. Most affected districtsinclude Muzaffargarh, Dera GhaziKhan and Rajanpur and moderatelosses have been witnessed inBhakkar, Layyah, Jhang and RahimYar Khan. The Pakistan GinnersAssociation has estimated 15 to 20per cent cotton crop in Punjabgushed by flood waters. Rough esti-mates shows that two million balesof cotton have been destroyed onlyin Punjab by floods. Cotton crop has

been damaged in Sindh also. .The total consumption of cotton by

local industry is about 15.5 millionbales against targeted production of14 million bales. After the devastat-ing flood the shortfall is likely to riseto around 4.5 million bales. Thisshortfall will have to be met throughimport from other cotton producingcountries. Due to import of cottonfrom other countries the cost of pro-duction of textile products wouldincrease and may lead to losingcountry's share in the internationalmarket.

In this context it may be mentioned

that Pakistan had missed the cottonproduction target by around 5 to 10per cent in the last financial year2009-10. The total demand for cottonwas 14 million bales while domesticproduction was 12.7 million bales.The country imported 1.3 millionbales from other countries to meetthe domestic requirement.

To meet the shortfall of cotton pro-duction in Pakistan the neighboringcountry India is looking for anopportunity of exporting cotton toPakistan. About 400 cotton Indiangrowers, ginners and exporters havealready expressed interest in export-ing cotton to Pakistan. Howeversome Indian expert fear a hugedemand from Pakistan could send

price soaring in India. It may beworth mentioning that Pakistan forthe past several years had been oneof the major importers of Indian cot-ton. Mr. I. G. Duria the CorporateGeneral Manger with Punjab basedVardhman group, a leading mill says"India should export surplus. If thegovernment does not regulateexports India can face serious reper-cussion."

To keep Pakistan's textile sectorvibrant the stakeholders will have tobear the burden of over US$ one bil-lion on import of cotton. Accordingto sources textile sector stakeholders

have already started negotiation withIndia and Brazil for importing onemillion bales of cotton while thenegotiation for the remaining importof cotton will be held very soon.

Cotton holds economic signifi-cance both in the global and nationaleconomy. It is very sad that despitecotton being the mainstay, Pakistanhas criminally neglected cotton culti-vation in the past five years. Thedepressed condition of cotton crop inthis fiscal year is alarming due tofloods, which must be improved atall cost. In the event of chaos innational economy and financialcrunch due to flood the only sourceof comfort for Pakistan is to bringsignificant improvement in agricul-ture with greater improvement in thecotton cultivation. We must take alesson from the neighbor countryIndia which has recorded robustgrowth in the cotton production. Thequestion Pakistan must ask, whywith more or less similar climaticconditions with India Pakistan couldnot make a substantial progress incotton production as well as yield.The natural calamity like the recentfloods has given a genuine lesson towork with devotion to bring revolu-tionary changes for boosting cottonproduction.

In order to avoid huge import ofpalm oil it should increase extractionof oil from cotton seeds and use it asedible oil extensively for the people.In many Western and African coun-tries, cottonseed is used for oil andmargarine and other products beingthe major source of fat and oil.Pakistan should invest in researchand development for boosting cottonproduction.

India through its research anddevelopment has been able to boostits cotton production and stands dis-tinguished among the leading cottonproducing countries. If similar meas-ures are taken with resolve and sin-cerity Pakistan can earn $20bn fromexports of cotton textiles.

The Cotton Country

India thru its research and devel-

opment has been able to boost

its cotton production and stands

distinguished among the leading

cotton producing countries. If similar

measures are taken with resolve

and sincerity Pakistan can earn

$20bn from exports of cotton textiles.

“

The Obama admin-istration's prosecu-tion of terrorism

suspects in US criminalcourts could be hobbledby a federaljudge's deci-sion to bar akey govern-ment witnessfrom testify-ing in thefirst trial of aprisoner whowas held bythe militarya tGuantanamoBay, Cuba.

● USprosecutorsi nM a n h a t t a nare tryingA h m e dGhailani ofTanzania oncharges thathe conspiredwith Islamicmilitants tobomb the USembassies inTanzania and Kenya inwhich 224 people werekilled. Ghailani's defencelawyers argued he wascoerced in interrogationswhile in CIA custody.

● Judge Lewis Kaplanrefused to allow a wit-ness testify because hewas located as a result oftestimony coerced fromGhailani, a setback forthe Obama administra-tion.

● The Obama adminis-tration has repeatedlysaid that US criminalcourts in the past havehandled prosecuting ter-rorism cases and havepressed to have detaineesfrom Guantanamo triedthat way despite criticismfrom Republicans.

● The decision willlikely provide additionalammunition toRepublicans who believethat most terrorism sus-pects should be labeled"enemy combatants,"tried in military tribunalsat Guantanamo and onlyafforded limited legalrights.

● The decision, if pros-ecutors are unable tooverturn it, could make itharder for the administra-tion to win approval from

the US Congress to pros-ecute terrorism suspectsin criminal courts. Thateffort was already facingchallenges despite thefact that PresidentBarack Obama's fellowDemocrats control bothchambers.

● The ruling alsobrings back headlinesabout the controversy ata time when it had large-ly been relegated to theback burner. The timingcould also put Democratswho support criminal tri-als in the United Stateson the defensive whenthey are running for re-election.

● One civil libertiesgroup hailed the decisionbecause it upheld theprinciple that testimonyfrom someone who wascoerced would not beadmitted into a US crimi-nal court. They also saidit was not the only evi-dence against Ghailaniand that others in thecase had been convictedwithout the testimony ofthe witness.-Reuters

A Setbackfor Obama

US prosecutors inManhattan aretrying Ahmed

Ghailani of Tanzaniaon charges that he

conspired withIslamic militants to

bomb the USembassies in

Tanzania and Kenyain which 224 people

were killed. Ghailani'sdefence lawyers

argued he was coercedin interrogations

while in CIA custody.

Sunshine all year round, amedley of multicolouredcoral reefs beyond its sandy

shores and the remains of anancient desert city make an entic-ing tourist destination. But don'tpull out your bikini yet.

In Saudi Arabia there are noshorts, no mixing of unrelated menand women, and most significant-ly, no easy access into the country.

Home to Islam's holiest citiesof Mecca and Medina, SaudiArabia regards itself as theguardian of Islam and is oftenclosed off to foreigners. Eventhough it receives more than fivemillion Muslim pilgrims a year,they are not allowed to travelwithin the country.

Tourist visas arerarely issued andcome with manyrestrictions butthis is due tochange as SaudiArabia adopts anew strategy to tapinto a niche mar-ket of conserva-tive tourism.

"It is about thekind of people thatcome to SaudiArabia. It is anIslamic countrythat is home toIslam's holiest sitesso most peoplewho come herecome for Umra and Haj (pilgrim-age)," said Abdulla al-Jehani, anofficial at the Saudi Commissionfor tourism and Antiquities.

For the past six years thetourism authorities focused theirefforts on attracting more localsand Gulf nationals, who areallowed entry to Saudi Arabiawithout a visa.

"We are working on a new pro-gram... called "Umra Plus", whichmeans "Umra Plus tourism","Jehani said, adding that visitingpilgrims will be allowed to extendtheir stay in the kingdom to visitcertain areas that were previouslyinaccessible to them.

With sites such as the ancientNabatean city in Madaen Saleh; a300-year old village of RijalAlma; and the remains of afamous railway linking the Levantwith the holy city of Medina,Saudi Arabia has a lot to offer.

The leading oil exporter says ithopes to raise its tourism contri-bution to non-oil GDP to 11 percent within the next 20 years fromits current 6.5 per cent as it seeksto diversify away from oil andprovide jobs for its 18 millionlocal population.

TAPPING INTONICHE MARKET

Perched on the edge of one ofSaudi Arabia's mountain's in theWestern region, 1,800 kilometresabove sea level, the Taif waterpark resort has become a hub forconservative Gulf tourists whowant to have a little fun in the sunwhile still adhering to their reli-gious principles.

Wearing "Islamic" swimmingtrunks that cover the area fromhis belly button to his shins,Mishaal al-Azmi and his familymerge well with their surround-ings at the water park resort. Hiswife, clad in black and veiled,sits by his side.

"Abroad they bother us. Theylook at us with discrimination...because of our Islamic dress.Here we feel like we are free, noone bothers us. Everyone has thesame values and traditions," hesaid.

Taif, along with other mountain-top destinations in Saudi Arabia,have become alluring summer hotspots for conservative familiesfrom the Gulf who are looking toenjoy a holiday in keeping withIslamic values and traditions.

Saudi Arabia follows an austereversion of Sunni Islam and reli-gious police patrol the streets toensure adherence to IslamicSharia, including a ban on alcoholand often music.

Men must dress modestly andwomen cover their figures with aloose black garment, called theabaya, while restaurants segregatesingle men and families into sepa-rate sections.

"Saudi Arabia is a conservativecountry that has its values andprinciples, making it differentthan other places, and that mayattract some people," Jehani said.

"Among the principles for thetourism vision for Saudi Arabia is

that the country is and will remainconservative, having its own val-ues and principles, and no onewill change that," he added.

Many Saudis choose to travelabroad for a change of sceneryand cooler weather, but nearly 1.4million residents of other Gulfcountries visit the kingdom dur-ing summer, Jehani said.

One Kuwaiti woman, shoppingfor herbs in an Al Taif bazaar,said she felt safe in SaudiArabia, free from what she con-sidered vulgar images seen whentravelling abroad.

In order for Saudi Arabia toexpand its tourism industry as itaims to capitalise on pilgrim visi-

tors it must firstattract investors tobuild more hotelsand facilities whichtend to be over-crowded duringpeak summer times.

LACK OFINVESTMENTTourism's devel-

opment is ham-pered, however, bylack of interestamong investorsworried about weakreturns, causing ashortage of hotelsand other facilities.

"We do not findourselves in a posi-tion to reach out

more in terms of leisure tourism.We are not yet ready because ofthe standard of the industry interms of the services, the ease oftransport between cities in thekingdom. This all needs improve-ment," Jehani said.

Even though Taif is one of themost popular summer destina-tions in the country, it only has24 hotels and 450 serviced apart-ments while it receives about 2million tourists a year, saidAhmad Aljuaid, a local tourguide.

Investors' main concern is alsoto have a steady stream of touristall year long, not just in the sum-mer when more people pour intothe country, said Abdulhamid al-Amry, member of the SaudiEconomic Association.

Prices of lodging more thandouble during the summer andsome hotels are only open for afew months a year.

Jehani believes that the "UmraPlus" program will be one solu-tion that will help increasedemand for tourism throughoutthe year, and contribute to elimi-nating the seasonality problem.-Reuters

Pilgrim Tourism

It is about the kind ofpeople that come to Saudi

Arabia. It is an Islamic countrythat is home to Islam's holiestsites so most people who come

here come for Umra and Haj(pilgrimage)," said Abdullaal-Jehani, an official at the

Saudi Commission fortourism and Antiquities

“

Mohammed Arifeen

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

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

Sales (July 09 to June 10) 73,993

Production (July 10) 7,509

Sales (July 10) 4,503

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

Sales (July 09 to June 10) 50,823

Production (July 10) 5,162

Sales (July 10) 4,999

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

Sales (July 09 to June 10) 14,120

Production (July 10) 1,560

Sales (July 10) 1,272

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

Sales (July 09 to June 10) 1,371

Production (July 10) 41

Sales (July 10) 40

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

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

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

Spread (July 2010) 7.51%

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

MS (July 10) 188

Kerosene (Jul 09 to June 10) 164

Kerosene (July 10) 15

JP (Jul 09 to June 10) 1,377

JP (July 10) 129

HSD (Jul 09 to June 10) 7,435

HSD (July 10) 664

LDO (Jul 09 to June 10) 75

LDO (July 10) 7

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

Fuel Oil (July 10) 869

Others (Jul 09 to June 10) 13

Others (July 10) 1

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

MS (1 Aug 10) 41.22

MS % Chg -0.90%

Kerosene (1 Sep 10) 47.14

Kerosene (1 Aug 10) 46.55

Kerosene % Chg 1.27%

JP-1 (1 Sep 10) 47.37

JP-1 (1 Aug 10) 46.78

JP-1 % Chg 1.26%

HSD (1 Sep 10) 50.61

HSD (1 Aug 10) 49.63

HSD % Chg 1.97%

LDO (1 Sep 10) 46.37

LDO (1 Aug 10) 45.29

LDO % Chg 2.38%

Fuel Oil (1 Sep 10) 39,932

Fuel Oil (1 Aug 10) 39,723

Sector Updates

Symbol Close Vol (mn)JSCL 9.16 9.52 NIB 3.04 9.26 BAFL 9.02 9.03 LOTPTA 8.73 8.32 SNGP 32.75 7.85

Symbol Close ChangeULEVER 3,993.29 43.29 MTL 442.52 16.95 NESTLE 1,927.53 15.98 LAKST 353.86 8.72 FZTM 345.00 7.01

Symbol Close ChangeRMPL 1,246.91 -51.34DREL 699.99 -10.01BHAT 159.00 -7.85PAKD 102.46 -5.39SIEM 1,150.00 -5

Plus 244Minus 125Unchanged 25

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Philippine stocks close at all-time high

Mexico stocks open lower after record high closes

Friday, October 8, 2010 5

Dhiyan

Market is expected to move in a narrow band down the linedays as upcoming inflation figures are likely to be higher. Itis expected it would be moving in a range of 300-400 points.Investors are advised to venture in oil and textile sectors.Launch of Margin Trading System (MTS), positive outcomeof the meeting with IMF, good corporate results, and a hugeforeign aid may act as triggers the market is in dire need of.Bullish activities could be seen today.

Mohammad Imran, AVP Research Arif Habib Limited

Syed Faizan Rizvi, Director SMH Financial Solution

A breakout took place and benchmark KSE 100-Index was able

to close above its major resistance level 10150 points. We are

seeing the bull-run on the roll with a minor resistance at the level

of 10240 points which will be absorbed during intra-day trade

today. We recommend investors to buy and order stop loss at the

level of 10,113 points. Market is likely to move both ways today.

BUY; ORDER STOP LOSS AT 10,113PTS

Opening 10,029.36

Closing 10,191.68

Change 162.32

% Change 1.62

Turnover (mn) 148.22

Opening 3,111.95 Closing 3,180.49 Change 68.54% Change 2.20Turnover (mn) 7.06

Opening 2,559.23

Closing 2,597.91

Change 38.68

% Change 1.51

Turnover (mn) 0.56

Nawaz Ali

KARACHI: Karachi StockExchange (KSE) Thursdaygained more than 1.6 per cent totouch a two-month high prima-rily due to local/foreign institu-tions' buying in the wake ofnews that EU has eased its con-ditions for Pakistan exports,international oil prices haveshot up, and US has apologisedfor Nato's friendly fire thatkilled Pakistani troops.

The benchmark KSE 100-index jumped by 162 points

(1.62 per cent) to close at10,191 points, KSE 30-Indexincreased by 176 points (1.82per cent) to close at 9,864points, and KSE All Share indexrose by 106 points (1.52 percent) to close at 7,106 level.

According to Samar Iqbal,equity dealer at ToplineSecurities, local bourse wit-nessed a very active sessionacross the board as volumesscaled a 4-month high mainlyled by local institutions and for-eign fund managers buying.

He went on to say enthusiasm

was further augmented due toinflow of foreign funds in theregional markets which pushedindex up near 2-month highlevel. Also, positive news flowabout local cement priceincrease, news of EU relax-ations for Pakistani exports, andupsurge in the international oilprices had a healthy impact ontrade today, he added.

According to a news report,The European Union suspendedduty on 75 Pakistani imports aspart of an aid-linked package to

See # 16 Page 11

Bulls cart KSE upto 2-month high

Benchmark index up 1.6pc

TOKYO: Japan's Nikkei aver-age fell 0.2 per cent onThursday as the yen's rise to afresh 15-year high underminedsentiment, but it continued tosee inflows into the real estateand financial sectors in thewake of Bank of Japan easing.

The Nikkei was put underpressure as electronics slumpedafter US tech shares droppedthe previous day hit by worriesabout demand for semiconduc-tors and data storage.

Weaker-than-expected third-quarter earnings guidance forSouth Korea's SamsungElectronics also added bearish-ness to the sector, traders said.

"The yen's rise, falls in UStech shares and a weaker-than-consensus results by Samsungweighed on the Nikkei, butsentiment is not all that weak,"said Hiroaki Osakabe, a fundmanager at Chibagin AssetManagement.

"The effect of the BOJ easingis still in place as we are seeinginflows into the property, con-struction and financial sectors.I believe this trend will contin-ue for a while."

The benchmark Nikkei fell16.41 points to 9,675.02, whilethe broader Topix rose 0.3 percent to 847.39.

See # 2 Page 11

Nikkei fallson yen rise

NEW DELHI: Indian sharesfell 1.1 per cent on Thursday asinvestors locked in profits aftera big rally that had taken themarket to a 33-month high thisweek, but traders said theundertone was bullish on surg-ing foreign interest.

The 30-share BSE indexclosed down 1.11 per cent, or227.76 points, at 20,315.32,with 23 of its componentsfalling. The benchmark is up16.3 per cent in 2010, and isabout 900 points away from a

record high of 21,206.77. OnMonday, the index had hit20,706.74, its highest sinceJanuary 2008.

Outsourcers such as InfosysTechnologies and TataConsultancy, which get morethan half of their revenuefrom the United States, led thelosses after data showed pri-vate sector employment in theworld's biggest economy sur-prisingly shrank inSeptember.

See # 1 Page 11

Indian shares drop,but outlook bullish

HONG KONG: Hong Kongshares closed little changed onThursday, holding at an 11-month high, as investorspaused ahead of marketsreopening in China and USjobs data on Friday.

The benchmark Hang SengIndex ended flat at 22,884.3with mainland banks outper-forming for a second session,as investors hunted for valuewhile other sectors succumbedto profit-taking.

The index is up 2.4 per centthis week, rising to a fresh2010 high, as foreign investorspoured money into the marketas expectations grow that eas-ing US monetary policy wouldkeep money cheap.

Meetings of the EuropeanCentral Bank and Bank ofEngland later on Thursday willbe watched for any hint that,like the Federal Reserve andBank of Japan, policymakersare warming up to using newly

printed money to buy assets."Market sentiment turned

buoyant quite rapidly and it isunderstandable if someinvestors are feeling a littleuncomfortable at this point,"said Ben Kwong, chief operat-ing officer at KGI Asia in HongKong.

"The index is quite over-bought and we have China'smarkets reopening tomorrowafter a long holiday as well as

See # 4 Page 11

HK shares flat beforeChina markets reopen

FTSE inchesup as drug

makers gainLONDON : The top shareindex gained slightly by mid-day on Thursday as strongerpharmaceuticals outweighedfalls in banks, with movesmuted as the Bank of Englandleft rates on hold as expected.By 1108 GMT, the FTSE 100was 3.46 points or 0.1 per centhigher at 5,684.85 after rising0.8 per cent on Wednesday to afive-month closing high.

The Bank of England'sMonetary Policy Committeeheld interest rates at 0.5 percent and left its total 200 billionpounds of quantitative easingpurchases unchanged, as wide-ly expected.

But the decision may havemasked a three-way splitamong the nine-member com-mittee, with Andrew Sentancelikely to repeat his call for high-er rates, while Adam Posenrecently said he felt the centralbank should inject more stimu-lus into the economy.

"The decision was fully fac-tored in. You're going to get moreinsight when the minutes arepublished in a couple of weeks'time, because there's absolutelyno information in the statementto give us any insight as to whatthe Bank of England were think-ing," Peter Dixon, UK economistat Commerzbank, said.

The dollar fell to a 15-yearlow versus the yen and an

See # 3 Page 11

MUMBAI: Bollywood actor Shah Rukh Khan poses before hitting the ceremonial gongduring his visit to the BSE building in Mumbai.-Reuters

ANNOUNCEMENTS

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

Grays of Cambridge Yearly 25%(D) -18.260 -2.48

Gulshan Spinning Yearly 10%(D) 20%(B) 101.798 5.50

Ist.Capital Sec. Yearly 10%(B) 699.221 2.43

National Silk Yearly 10%(D) 0.864 0.78

Sapphire Fiber Yearly 15%(D) 723.768 36.76

Sapphire Textile Yearly 50%(D) 1,015.544 50.57

Sitara Energy Yearly 20%(D) 107.195 5.61

Arpak Int. Yearly - 11.073 2.77

Ashfaq Textile Yearly - 12.751 1.82

Asim Textile Yearly - 26.289 1.77

Bilal Fibres Yearly - -9.393 -0.67

Data Agro Yearly - 0.394 0.10

EMCO Industries Yearly - -71.744 -2.05

Equity Modaraba Yearly - -0.714 -0.01

Grays Leasing Yearly - -101.478 -4.72

J.A.Textile Yearly - -6.218 -0.49

J.O.V.& CO. Yearly - -111.311 -2.19

Jah.Sidd. Co. Yearly - -8,983.826 -11.77

Mian Textile Yearly - -37.445 -1.69

Olympia Spinning Yearly - -101.415 -8.45

Pace (Pak) Ltd. Yearly - 633.164 2.37

Security Leasing Yearly - -273.953 -7.55

Wateen Telecom Ltd Yearly - -2.020 -4.43

Zephyr Textile Ltd Yearly - -63.153 -1.06

Staff Reporter

KARACHI: AKD Trade, theonline division of AKDSecurities has launched itsnew stock trading software,which is said to go a long wayin improving online business.

A large number of AKDTrade customers were alsopresent on the occasion.

In his message, theChairman of AKD Group,Aqeel Karim Dhedhi saidAKD Group had always beenin the forefront, be it safe-guarding the interests of gen-eral public or providing themwith the best available oppor-tunities in the market. He

added AKD had pioneeredonline stock trading facility inPakistan with a mission toprovide retail investors maxi-

mum access to Pakistan's cap-ital markets as back as in 2002before anyone else.

See # 5 Page 11

AKD Trade switches onstate-of-the-art software

Friday, October 8, 20106

Volume 148,216,248

Value 4,198,289,032

Trades 62,704

Advanced 244

Declined 125

Unchanged 25

Total 394

Current 7,106.90

High 7,114.10

Low 7,000.21

Change h106.69

Current 10,191.68

High 10,200.66

Low 10,029.36

Change h162.32

Current 9,864.30

High 9,875.07

Low 9,688.30

Change h176.00

Market KSE 100 Index All Share Index KSE 30 Index

Current 16,020.08

High 16,032.86

Low 15,756.61

Change h263.47

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

NIB Bank Limited

NIB closed up 0.47 at 3.04. Volume was 715 per cent above average

(trending) and Bollinger Bands were 25 per cent narrower than normal.

The company's loss after taxation stood at Rs1.944 billion which trans-

lates into a Loss Per Share of Rs0.48 for the half year of current calen-

dar year (1HCY10).

NIB is currently 20.0 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) 67.14 Total Assets (Rs in mn) 208,118.96

MA (10-day) 2.65 Total Equity (Rs in mn) 41,643.27

MA (100-day) 3.03 Revenue (Rs in mn) 18,272.36

MA (200-day) 3.80 Interest Expense 12,872.36

1st Support 2.72 Profit after Taxation 691.05

2nd Support 2.35 EPS 09 (Rs) 0.171

1st Resistance 3.27 Book value / share (Rs) 10.30

2nd Resistance 3.45 PE 10 E (x) -

Pivot 2.90 PBV (x) 0.30

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

PACE closed up 0.12 at 3.02. Volume was 1,251 per cent above aver-

age (trending) and Bollinger Bands were 32 per cent narrower than nor-

mal. The company's profit after taxation stood at Rs293.733 million

which translates into an Earning Per Share of Rs1.11 for the nine

months of fiscal year (9MFY10).

PACE is currently 33.1 per cent below its 200-day moving average and

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

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

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

forecasting oscillators are currently bullish on PACE.

RSI (14-day) 63.05 Total Assets (Rs in mn) 9,025.24

MA (10-day) 2.70 Total Equity (Rs in mn) 5,194.40

MA (100-day) 3.31 Revenue (Rs in mn) 1,261.81

MA (200-day) 4.51 Interest Expense 272.59

1st Support 2.81 Profit after Taxation 436.80

2nd Support 2.63 EPS 09 (Rs) 1.805

1st Resistance 3.18 Book value / share (Rs) 21.46

2nd Resistance 3.37 PE 10 E (x) 2.04

Pivot 3.00 PBV (x) 0.14

PACE Pakistan Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

RBS closed up 0.31 at 5.91. Volume was 573 per cent above average

(trending) and Bollinger Bands were 53 per cent narrower than normal.

The company's loss after taxation stood at Rs2.073 billion which trans-

lates into a Loss Per Share of Rs1.21 for the half year of current calen-

dar year (1HCY10).

RBS is currently 56.4 per cent below its 200-day moving average and

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

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

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

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

RSI (14-day) 38.41 Total Assets (Rs in mn) 93,437.66

MA (10-day) 6.01 Total Equity (Rs in mn) 6,936.51

MA (100-day) 10.22 Revenue (Rs in mn) 11,583.40

MA (200-day) 13.57 Interest Expense 6,385.85

1st Support 5.40 Loss after Taxation (1,338.05)

2nd Support 4.85 EPS 09 (Rs) (0.80)

1st Resistance 6.55 Book value / share (Rs) 4.04

2nd Resistance 7.15 PE 10 E (x) -

Pivot 6.00 PBV (x) 1.46

Royal Bank of Scotland Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

KTML closed up 0.40 at 5.46. Volume was 119 per cent above averageand Bollinger Bands were 19 per cent narrower than normal. The com-pany's profit after taxation stood at Rs277.861 million which translatesinto an Earning Per Share of Rs1.91 for the year ended FY10.KTML is currently 23.1 per cent below its 200-day moving average andis displaying a downward trend. Volatility is relatively normal when com-pared to the average volatility over the last 10 trading sessions. Volumeindicators reflect moderate flows of volume into KTML (mildly bullish).Trend forecasting oscillators are currently bearish on KTML.

RSI (14-day) 49.21 Total Assets (Rs in mn) 11,821.52

MA (10-day) 5.44 Total Equity (Rs in mn) 1,605.33

MA (100-day) 5.75 Revenue (Rs in mn) 8,458.90

MA (200-day) 7.10 Interest Expense 1,260.23

1st Support 4.64 Loss after Taxation (439.81)

2nd Support 3.80 EPS 09 (Rs) (3.022)

1st Resistance 6.19 Book value / share (Rs) 11.03

2nd Resistance 6.90 PE 10 E (x) 2.86

Pivot 5.35 PBV (x) 0.49

Kohinoor Textile Mills Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,248.69 1,272.07 1,248.35 1,267.60 18.90 1.51

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

5,115,426 - - 65,194.15 mn 1,022,602.27 mn 1,267.60

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

10.84 4.01 37.01 68.56 6.33 1,248.00

Attock Petroleum 576 5.54 354.03 362.78 354.00 360.31 6.28 369259 362.78 289.00 250 - 300 20

Attock Refinery 853 14.91 80.62 82.69 80.50 82.03 1.41 516538 93.60 73.47 - - - -

BYCO Petroleum 3921 - 10.07 10.50 10.10 10.38 0.31 1507112 12.96 9.62 - - - -

Mari Gas Company 735 14.73 107.13 111.90 108.02 108.74 1.61 73839 138.45 106.00 32.17 100B 31 -

National Refinery 800 5.30 210.59 213.90 210.01 212.83 2.24 212011 213.90 183.25 125 - 200 -

Oil & Gas Development XD 43009 10.15 145.21 147.60 145.02 147.08 1.87 727115 153.00 133.00 82.5 - 55 -

Pak Petroleum 11950 5.60 174.64 179.25 174.75 178.76 4.12 1589422 214.10 168.70 130 20B 90 20B

Pak Oilfields 2365 6.12 239.52 241.99 239.52 241.25 1.73 1059362 241.99 213.17 180 - 255 -

Pak Refinery Limited 350 - 56.02 58.82 55.00 58.82 2.80 8411 82.00 48.26 - - - -

PSO XD 1715 4.59 265.66 271.55 266.40 271.21 5.55 510515 289.45 233.10 50 - 80 -

Shell Gas LPG 226 13.59 30.23 30.80 29.60 30.17 -0.06 29944 40.10 27.32 - - - -

Shell Pakistan XD 685 9.92 191.91 195.00 192.75 193.45 1.54 19010 244.00 188.00 330 - 40 -

Paid up Last 60 days 2009 2010

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

915.38 932.75 904.16 918.12 2.74 0.30

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

13,980,559 - - 47,070.70 mn 112,637.19 mn 925.76

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

5.76 0.50 8.64 16.68 2.89 915.38

Amtex Limited XD 2415 3.26 12.67 13.00 12.05 12.20 -0.47 260427 20.45 12.05 - - 30 -Artistic Denim 840 5.06 19.66 20.19 19.75 20.15 0.49 12612 21.29 17.55 20 - 20 -Ashfaq Textile 70 2.20 4.00 4.00 3.00 4.00 0.00 11000 4.90 3.00 - - - -Asim Textile 152 1.41 2.50 2.50 2.50 2.50 0.00 1000 2.80 2.50 - - - -Azam Textile 133 0.50 2.10 2.78 2.10 2.12 0.02 5700 2.90 1.35 - - - -Azgard Nine 4493 257.25 9.98 10.39 10.00 10.29 0.31 963640 13.40 8.55 - - - -Bannu Woolen 76 - 10.56 10.70 9.75 10.45 -0.11 1228 10.79 7.50 - - - -Bata (Pak) 76 4.64 465.00 471.00 470.00 470.11 5.11 165 593.50 452.59 120 - - -Brothers Textile 98 - 0.31 1.00 0.50 0.50 0.19 5002 1.50 0.10 - - - -Chakwal Spinning 400 1.54 1.67 1.80 1.20 1.56 -0.11 28529 2.29 0.70 - - - -Chenab Limited 1150 - 3.25 3.60 3.30 3.53 0.28 187172 4.98 2.93 - - - -Colgate Palm 316 15.14 700.00 735.00 696.02 705.00 5.00 215 770.00 555.00 115 15B - -Colony Mills Ltd 2442 2.44 2.89 2.99 2.61 2.90 0.01 37593 5.00 2.23 - - - -Crescent Fibres Ltd 124 1.38 13.00 13.00 12.00 12.29 -0.71 1718 18.35 7.66 - - 10 -Crescent Textile 492 3.07 22.50 21.51 21.51 21.51 -0.99 500 28.60 19.51 - - 15 -D S Ind Ltd 600 - 1.51 1.55 1.46 1.50 -0.01 135107 2.49 1.44 - - - -Dawood Lawrencepur 514 9.63 40.00 40.50 39.00 40.24 0.24 832 51.99 37.08 - - 5 -Din TextileSPOT 185 1.30 24.40 25.59 23.75 25.32 0.92 2474 31.00 23.75 - - 20 10BEllcot Spinning 110 1.81 21.88 21.65 20.85 21.25 -0.63 2751 25.45 20.50 7.5 - 35 -Faisal Spinning 100 0.77 32.75 34.00 31.12 31.15 -1.60 811 34.00 24.55 7.5 - 50 -Fazal Textile 62 3.42 337.99 350.00 325.00 345.00 7.01 116 405.00 303.00 15 - 100 -Gadoon Textile 234 1.20 45.21 46.00 44.35 44.66 -0.55 5252 48.30 33.80 - - 70 -Ghani Value Glass 75 7.17 32.50 33.00 32.50 32.50 0.00 1211 38.64 26.00 8 400R 25 -Gillette Pakistan 192 45.26 62.22 65.30 60.00 61.10 -1.12 8612 73.00 57.50 - - - -Gulistan Spinning 146 2.08 5.20 6.20 6.09 6.13 0.93 1924 7.00 5.00 - 10B - -Gulshan Spinning 185 1.34 6.39 7.39 6.70 7.39 1.00 3852 7.49 5.31 - 10B 10 20BHira Textile Mills Ltd. 716 1.48 4.08 4.20 4.05 4.13 0.05 166890 4.61 2.52 - - - -Ibrahim Fibres 3105 3.32 35.79 35.89 35.00 35.89 0.10 203700 41.00 34.30 - - 20 -Idrees Textile 180 2.42 4.30 4.24 4.05 4.24 -0.06 4346 5.35 2.55 - - 10 -Indus Dyeing 181 2.88 218.54 217.99 210.00 217.99 -0.55 151 269.50 199.70 15 - - -Int Knitwear XD 32 5.28 9.00 9.98 9.98 9.98 0.98 10000 10.50 7.00 - - 6 -Janana D Mal 43 24.85 18.95 19.95 19.79 19.88 0.93 5010 19.95 9.95 - - - -Kohinoor Ind 303 - 1.33 1.50 1.32 1.36 0.03 18020 2.00 1.01 - - - -Kohinoor Mills 509 - 3.57 3.00 2.57 3.00 -0.57 103 3.99 1.60 - - - -Kohinoor Spinning 1300 7.00 1.30 1.19 0.71 1.19 -0.11 601 1.80 0.56 - - - -Kohinoor Textile 1455 2.86 5.06 6.06 4.51 5.46 0.40 176736 6.30 4.00 - - - -Leather Up 60 - 1.50 2.50 1.50 1.50 0.00 1301 2.50 1.00 - - - -Masood Textile 600 1.00 20.50 20.00 19.49 19.50 -1.00 11524 23.25 19.25 15 - 15 100RMehmood Textile 150 1.64 64.00 65.50 61.50 63.41 -0.59 1561 74.50 57.00 4050.2257B 60 -Mian Textile 221 - 0.53 0.65 0.15 0.43 -0.10 10457 1.40 0.01 - - - -Nagina Cotton 187 1.26 16.70 16.75 16.69 16.70 0.00 7950 17.18 12.00 - - 20SD -Nishat (Chunian) 1586 3.39 17.85 18.45 18.02 18.32 0.47 3764520 19.49 14.64 - 50R - -Nishat Mills 3516 5.72 46.99 48.90 47.31 48.58 1.59 6754696 53.14 40.81 20 - 25 45RPak Synthetic 560 5.82 5.50 5.60 5.30 5.35 -0.15 5674 7.90 5.30 12.5 - - -Paramount Spinning 158 2.12 8.90 9.74 8.00 9.17 0.27 3281 9.90 6.00 - 10B - -Premium Textile 62 0.95 29.35 29.48 29.45 29.45 0.10 105 30.90 23.90 7.5 - 50 -Ravi Textile 250 4.62 1.79 1.99 1.75 1.80 0.01 522697 4.69 1.38 - - - -Redco Textile 213 4.00 0.93 1.20 1.20 1.20 0.27 1000 1.20 0.50 - - - -Reliance Weaving 308 1.19 10.53 10.50 9.60 9.64 -0.89 15172 12.00 6.91 - - - -Saif Textile 264 - 4.36 4.44 3.54 4.06 -0.30 4079 5.44 2.01 - - - -Sally Textile 88 0.33 4.09 4.34 4.00 4.10 0.01 23428 4.98 2.74 - - - -Samin TextileSPOT 134 - 7.01 8.00 6.50 7.54 0.53 16773 8.69 5.02 - - - 100RSana Ind XD 55 4.48 30.45 30.75 29.25 30.00 -0.45 6111 38.40 27.25 35 - 60 -Sapphire Textile 201 2.15 110.25 115.76 104.74 108.80 -1.45 521 124.80 100.00 - - 50 -Sargoda Spinning 312 0.52 2.38 2.28 2.00 2.00 -0.38 1010 2.45 0.31 - - 5 -Saritow Spinning 133 0.54 2.35 2.39 2.11 2.37 0.02 1511 2.80 1.01 - - - -Service Ind 120 4.79 186.48 189.00 183.00 185.96 -0.52 3583 228.00 176.50 200 - - -Shahtaj Textile 97 1.74 19.06 19.50 19.16 19.42 0.36 15194 21.50 14.75 20 - 45 -Shams Textile 86 1.16 16.63 17.63 15.75 17.63 1.00 201 17.63 15.00 - - 20 -Suraj Cotton 180 1.31 35.13 36.88 35.25 36.88 1.75 281879 36.88 29.50 15 - 50 -Tata Textile XD 173 0.65 15.64 16.64 16.64 16.64 1.00 120 19.70 12.75 - - 25 -Thal Limited 256 3.95 103.17 106.00 103.01 105.49 2.32 30363 114.99 97.00 20 20B 80 20BTreet Corp 418 7.76 38.48 39.50 37.25 37.66 -0.82 224597 49.49 37.20 - - - -Yousuf Weaving 400 1.48 1.25 1.20 1.08 1.08 -0.17 1001 1.90 0.73 - - - -Zephyr Textile Ltd 594 - 2.85 2.83 2.60 2.75 -0.10 3602 4.99 1.50 - - - -Zil Limited 53 6.68 40.19 40.00 39.00 39.02 -1.17 1100 46.12 33.00 40 10B 35 -

Paid up Last 60 days 2009 2010

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,050.77 1,058.03 1,032.67 1,045.08 -5.69 -0.54

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

527,074 - - 3,763.71 mn 5,515.69 mn 1,058.70

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

3.88 0.41 10.64 6.27 1.62 1,045.08

AL-Abid Silk 96 3.04 29.84 31.30 31.25 31.30 1.46 869 32.00 26.60 7.5 - -20B 20R

Pak Elektron 1174 2.94 13.86 14.15 13.62 13.77 -0.09 513200 15.95 12.17 - 10B - 10B

Tariq Glass Ind 231 2.84 16.90 17.50 16.00 17.45 0.55 12966 19.12 14.05 - - 17.5 -

Paid up Last 60 days 2009 2010

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,450.02 1,478.03 1,446.40 1,459.46 9.44 0.65

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

349,423 - - 11,335.33 mn 187,090.96 mn 1,462.19

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

30.55 9.26 30.30 30.57 1.00 1,450.02

AL-Noor Sugar 186 4.16 40.04 41.00 40.00 40.96 0.92 780 47.35 39.00 40 - - -Ansari Sugar 244 0.28 6.00 6.00 6.00 6.00 0.00 500 6.00 3.80 - - - -Clover PakistanSPOT 94 28.75 46.35 46.90 46.00 46.00 -0.35 994 50.00 33.33 - - 15 -Colony Sugar Mills 990 - 3.90 4.00 3.90 3.98 0.08 103576 4.49 2.40 - - - -Faran Sugar 217 3.00 18.67 18.55 18.55 18.55 -0.12 998 23.50 15.90 17.5 - - -Habib Sugar 600 6.04 29.03 29.50 29.00 29.30 0.27 7179 30.44 23.50 35 25B - -Habib-ADM LtdSPOT 200 4.42 15.99 16.04 15.60 15.74 -0.25 29396 16.98 13.00 40 - 40 -Hussein Sugar 121 - 12.88 13.50 12.00 13.50 0.62 450 14.00 4.22 - - - -Ismail IndSPOT 505 12.74 74.00 75.00 70.50 74.90 0.90 1507 76.90 53.64 15 - 17.5 110RJ D W Sugar 490 2.21 65.60 66.00 65.99 66.00 0.40 105 67.90 60.10 40 - 0 12.5RNational Foods XD 414 19.34 41.24 42.00 40.05 40.43 -0.81 4761 65.29 40.05 - 25B 12 -Noon Pakistan 48 9.77 22.10 21.03 21.00 21.00 -1.10 856 33.06 21.00 - 10B 12 -Premier Sugar 38 6.24 34.97 36.50 34.00 34.01 -0.96 201 43.60 34.00 30 - - -Quice Food 107 - 2.35 3.35 2.40 3.34 0.99 162000 3.35 1.60 - - - -Rafhan Maize 92 6.05 1298.25 1300.00 1233.34 1246.91 -51.34 7714 1599.00 1214.24 900 - 600 -Shahmurad Sugar 211 16.65 11.00 11.50 11.15 11.49 0.49 6001 11.90 7.40 15 - - -Shakarganj Mills 695 - 3.75 4.25 3.85 4.09 0.34 20485 5.16 3.02 - - - -UniLever Pakistan XD 665 22.36 3950.00 4016.00 3961.00 3993.29 43.29 1516 4200.00 3710.00 458 - 178 -

Paid up Last 60 days 2009 2010

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,055.73 1,091.76 1,043.02 1,071.82 16.10 1.52

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

431,684 - - 6,768.53 mn 38,713.50 mn 1,071.82

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

3.88 0.98 25.35 20.42 5.26 1,044.38

Agriautos Ind 144 5.10 69.50 70.40 68.11 69.77 0.27 9384 78.39 63.01 40 - 90 -Atlas Battery 101 5.18 136.53 137.94 136.40 137.27 0.74 151 209.00 131.00 100 20B 100 20BAtlas Honda 626 6.79 96.25 97.50 97.50 97.50 1.25 500 127.99 92.00 80 30B - -Baluchistan Wheels Ltd. 133 4.85 30.00 30.50 29.00 30.43 0.43 101 33.47 28.25 15 - 25 -Dewan Motors 890 - 1.36 1.48 1.35 1.39 0.03 27314 2.24 1.16 - - - -Exide (PAK) 56 4.00 137.64 140.00 136.00 139.74 2.10 520 177.99 121.10 50 - 60 -General Tyre XD 598 6.28 22.47 22.93 22.47 22.93 0.46 5456 28.80 21.71 - - 20 -Ghandhara Nissan 450 - 4.40 4.60 4.08 4.16 -0.24 51696 6.50 4.03 - - - -Ghani Automobile Ind 200 3.98 4.08 4.78 4.31 4.74 0.66 3473 5.70 3.55 - - - -Honda Atlas Cars 1428 - 10.61 11.00 10.26 10.96 0.35 23847 14.50 9.65 - - - -Indus Motors XD 786 5.18 220.44 230.30 219.10 226.96 6.52 255457 287.00 212.29 100 - 150 -Pak Suzuki 823 9.19 75.02 77.49 73.00 73.97 -1.05 15350 89.99 69.25 5 - - -Sazgar Engineering 125 6.39 24.46 24.80 24.15 24.59 0.13 7690 27.85 23.91 - 20B 10 20BTransmission 117 1.90 2.20 2.43 1.75 1.90 -0.30 30745 3.25 1.53 2 - - -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,400.80 1,452.84 1,413.38 1,444.75 43.95 3.14

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

460,505 - - 1,336.62 mn 30,666.46 mn 1,444.75

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

7.28 2.77 38.02 131.49 18.07 1,349.49

AL-Ghazi Tractor 215 5.11 214.86 218.39 214.00 215.18 0.32 3835 227.45 200.26 400 - 150 -

Bolan CastingSPOT 95 5.82 48.04 50.44 48.25 50.43 2.39 41425 50.61 35.25 - 20B 25 10B

Ghandhara Ind 213 2.08 14.25 14.25 13.25 13.25 -1.00 160556 20.24 13.25 - - - -

Millat TractorsXDXB 366 5.67 425.57 445.10 430.50 442.52 16.95 254575 597.90 390.00 450 25B 650 25B

Paid up Last 60 days 2009 2010

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

893.43 899.66 888.47 892.91 -0.52 -0.06

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

258,843 - - 3,043.31 mn 33,112.68 mn 898.72

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

2.62 1.15 43.91 15.55 5.93 892.91

Cherat PapersackSPOT 92 4.49 46.51 47.79 46.75 47.06 0.55 23119 51.05 34.00 - - 20 25B

ECOPACK Ltd 230 - 1.99 2.13 1.90 2.00 0.01 10283 2.89 1.70 - - - -

Ghani GlassSPOT 970 6.16 60.00 60.20 59.50 60.20 0.20 1000 61.99 54.65 30 10B 25 10B

MACPAC Films 389 - 2.94 3.45 2.70 2.98 0.04 1002 4.69 2.21 - - - -

Merit Pack 47 - 16.40 16.00 16.00 16.00 -0.40 150 20.70 11.81 - - - -

Packages Ltd 844 15.48 102.24 104.00 102.00 102.16 -0.08 220837 125.96 98.00 32.5 - - -

Siemens Engineering 82 10.25 1155.00 1150.00 1150.00 1150.00 -5.00 1402 1299.75 1001.00 900 - 300 -

Tri-Pack Films 300 8.17 101.80 102.50 100.50 101.86 0.06 1050 105.00 91.00 100 - - -

Paid up Last 60 days 2009 2010

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

894.50 926.98 891.35 916.97 22.46 2.51

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

11,144,456 - - 54,792.74 mn 68,755.95 mn 916.97

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

7.15 0.51 7.10 19.04 2.66 894.50

Al-Abbas Cement 1828 - 2.96 3.33 2.82 3.11 0.15 11714 4.40 2.80 - - - 100R

Attock Cement 866 5.10 63.00 65.00 63.75 64.04 1.04 204532 72.40 62.00 50 20B 50 -

Berger Paints 182 - 14.61 14.99 14.25 14.52 -0.09 2931 20.00 14.01 - - - 122R

Buxly Paints 14 6.09 10.85 10.90 10.89 10.90 0.05 130 14.94 10.55 - - - -

Cherat Cement 956 - 10.05 11.05 9.51 11.01 0.96 39277 12.50 8.90 - - - -

Dadabhoy Cement 982 13.00 1.55 1.80 1.60 1.69 0.14 2501 2.74 1.30 - - - -

Dewan Cement 3574 - 1.50 1.67 1.30 1.60 0.10 183625 2.20 1.30 - - - -

DG Khan Cement Ltd 3651 34.24 23.48 24.65 23.52 24.65 1.17 7050480 28.74 23.02 - 20R - 20R

EMCO Ind 350 - 3.00 3.94 3.00 3.55 0.55 520 5.15 2.11 - - - -

Fauji Cement 6933 11.93 4.60 4.95 4.52 4.77 0.17 469035 5.50 4.50 - - - -

Fecto Cement 502 - 4.90 5.60 5.00 5.00 0.10 1010 7.90 4.50 - 10B - -

Flying Cement Ltd 1760 - 1.86 1.93 1.85 1.90 0.04 42651 2.37 1.75 - - - -

Gharibwal Cement 2319 - 3.49 3.60 3.30 3.32 -0.17 9402 7.50 2.11 - - - -

Haydery Const 32 - 0.72 0.96 0.80 0.95 0.23 1951 2.00 0.25 - - - -

Karam Ceramics 145 5.63 5.20 4.85 4.80 4.84 -0.36 566 7.30 4.01 - - - -

Kohat Cement 1288 - 5.70 5.99 5.85 5.85 0.15 11836 7.38 5.50 - - - -

Lafarge Pakistan Cmt. 13126 - 2.75 3.00 2.83 2.85 0.10 1054363 3.53 2.60 - - - -

Lucky Cement 3234 6.51 70.60 72.69 70.55 72.49 1.89 1807186 73.88 62.60 40 - 40 -

Maple Leaf Cement 3723 - 2.70 2.97 2.75 2.87 0.17 249134 3.84 2.51 - - - -

Pioneer Cement 2228 - 7.60 8.12 7.75 8.10 0.50 43645 8.47 6.80 - - - -

Shabbir Tiles 361 - 8.37 9.30 7.56 8.15 -0.22 1001 12.23 7.56 - - - -

Thatta Cement 798 - 19.60 19.80 19.00 19.01 -0.59 501 21.80 17.74 - - - -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

953.31 981.65 955.67 963.12 9.81 1.03

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

81,492 - - 3,596.11 mn 9,042.08 mn 967.09

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

2.98 0.99 33.10 30.91 10.37 953.31

Crescent Steel 565 3.39 24.89 25.64 25.00 25.01 0.12 19195 31.73 23.75 - - 30 -

Dost Steels Ltd 675 - 2.01 2.15 2.05 2.10 0.09 40298 3.20 1.65 - - - -

Huffaz Pipe 555 5.50 12.56 12.90 12.25 12.82 0.26 10906 16.75 12.25 - 30B - -

International Ind 1199 4.66 47.50 48.20 47.30 47.87 0.37 4751 70.71 47.00 - - 40 20B

Siddiqsons Tin 785 18.90 9.00 9.75 9.25 9.26 0.26 6342 10.80 8.20 10 - 7.5 -

Paid up Last 60 days 2009 2010

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,142.91 1,158.30 1,123.60 1,150.62 7.71 0.67

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

15,530 - - 1,186.83 mn 3,192.72 mn 1,168.25

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

5.87 0.44 7.47 25.28 4.31 1,142.91

Century Paper 707 - 18.70 19.20 18.20 19.14 0.44 12004 22.70 16.00 - 425R - -

Pak Paper ProductXDXB 50 4.22 40.84 41.50 40.50 40.51 -0.33 2044 62.85 39.50 20 - 25 33.33B

Security Paper 411 4.68 39.80 39.90 39.40 39.60 -0.20 1482 50.40 38.10 50 - 50 -

Paid up Last 60 days 2009 2010

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,138.36 1,164.15 1,137.60 1,155.43 17.07 1.50

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

22,988,752 - - 52,251.88 mn 262,544.16 mn 1,155.43

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

7.04 2.46 35.00 48.81 6.94 1,135.34

Agritech Limited 3924 - 23.49 23.39 22.54 23.37 -0.12 4100 27.79 21.15 - - - -

Bawany AirSPOT 68 1.46 10.90 11.90 11.40 11.40 0.50 155 16.78 10.00 - - 5 10R

BOC (Pak) 250 9.41 73.21 74.50 72.00 73.95 0.74 5989 82.50 66.90 90 - 15 -

Clariant Pak 273 5.74 162.51 164.00 162.00 163.04 0.53 550 174.00 153.50 125 - - -

Dawood Hercules 1203 7.75 165.50 171.90 165.00 168.02 2.52 9785 185.88 155.38 40 10B 20 -

Descon Chemical 1996 - 2.02 2.50 2.01 2.11 0.09 25705 3.15 1.78 - - - -

Descon Oxychem Ltd. 1020 - 3.90 4.10 3.92 3.98 0.08 73015 5.45 3.20 - - - -

Dewan Salman 3663 - 1.34 1.45 1.35 1.37 0.03 155558 2.21 1.28 - - - -

Engro Corp. Ltd XD 3277 9.03 173.94 176.95 174.12 176.05 2.11 1063555 194.59 165.60 6010B 40R 20 -

Engro Polymer 6635 - 14.34 15.20 14.55 14.73 0.39 7346209 15.20 9.57 - 27.5R - -

Fatima Fertilizer 22000 - 10.37 10.45 10.01 10.35 -0.02 215496 12.46 9.02 - - - -

Fauji Fertilizer 6785 7.27 105.70 107.49 105.50 106.87 1.17 655320 113.39 102.96 131.5 10B 75 -

Fauji Fert. Bin Qasim 9341 7.22 27.60 28.47 27.57 28.36 0.76 2941558 30.65 26.59 40 - 5 -

Gatron IndSPOT 384 3.61 38.71 39.00 38.65 38.66 -0.05 192 48.30 36.80 - - 20 -

Ghani Gases Ltd 725 - 12.18 13.18 12.10 13.18 1.00 1079521 13.18 7.41 - - - -

ICI Pakistan XD 1388 7.15 117.25 120.90 117.49 120.02 2.77 578161 128.30 109.50 80 - 55 -

Lotte Pakistan 15142 3.03 8.45 8.82 8.44 8.73 0.28 8317729 9.09 6.75 5 - - -

Mandviwala 74 - 1.50 2.48 1.40 1.58 0.08 36620 3.24 1.06 - - - -

Nimir Ind Chemical 1106 66.50 1.34 1.39 1.30 1.33 -0.01 467306 1.80 1.16 - - - -

Sitara Peroxide 551 - 8.07 8.90 8.23 8.49 0.42 245521 11.09 7.67 - - - -

Wah-Noble 90 4.99 42.00 43.48 42.00 42.10 0.10 7886 48.00 41.00 50 - 50 -

Paid up Last 60 days 2009 2010

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

822.98 840.99 822.43 831.76 8.79 1.07

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

103,172 - - 3,904.20 mn 28,001.19 mn 831.76

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

6.59 1.47 22.31 44.54 6.76 819.69

Abbott (Lab) 979 8.01 89.87 91.90 90.00 91.42 1.55 8359 95.50 77.00 120 - 20 -

Ferozsons (Lab) 208 7.19 111.00 112.00 109.01 109.51 -1.49 4938 124.00 96.00 10 20B - 20B

GlaxoSmithKline 1707 12.13 66.54 68.20 66.50 67.20 0.66 14707 83.77 65.00 50 - - -

Highnoon (Lab) 165 6.59 23.90 24.25 24.00 24.24 0.34 2100 25.79 22.10 25 - - -

IBL HealthCare Ltd 200 17.80 7.25 8.25 7.25 8.01 0.76 39819 8.66 6.10 - - - -

Otsuka Pak 100 4.32 28.00 28.50 28.44 28.47 0.47 500 34.99 27.50 15 - - -

Searle Pak 306 5.40 62.00 63.00 62.00 62.95 0.95 32546 64.19 53.36 15 15B 30 -

Wyeth Pak 142 109.32 944.33 962.00 950.00 950.00 5.67 202 1159.00 871.00 - - - -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

705.07 718.86 682.84 692.85 -12.21 -1.73

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

40,163 - - 3,242.17 mn 12,299.38 mn 708.53

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

5.49 1.40 25.53 11.08 2.02 692.85

Pak Int Cont.Terminal XD 1092 7.86 65.55 67.00 63.00 64.04 -1.51 38552 87.86 62.75 - 20B 40 -

PNSC XD 1321 5.25 38.50 38.99 38.12 38.50 0.00 1611 41.00 34.50 30 - 15 -

Paid up Last 60 days 2009 2010

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

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

BOOK CLOSURES

Amtex Ltd 08-Oct 15-Oct 30 30-Sep 15-OctIsland Tex Mills 08-Oct 16-Oct 50 30-Sep 16-OctJS Global Capital 08-Oct 14-Oct 50 30-Sep 14-OctOtsuka Pakistan 08-Oct 14-Oct - - 14-OctSalfi Tex Mills 08-Oct 16-Oct 25 30-Sep 16-OctTata Tex Mills 08-Oct 16-Oct 25 30-Sep 16-OctMerit Packaging 09-Oct 15-Oct - - 15-OctAl-Meezan Mutual Fund 11-Oct 19-Oct 8.5(F) 01-Oct -Ghandhara Industries 11-Oct 19-Oct - - 19-OctHabib ADM 11-Oct 20-Oct 40 01-Oct 20-OctMeezan Balanced Fund 11-Oct 19-Oct 5.5(F) 01-Oct -Bolan Castings 12-Oct 25-Oct 25,10(B) - 25-OctCherat Cement 12-Oct 26-Oct - - 26-OctClover Pakistan 12-Oct 18-Oct 15(F) 04-Oct 18-OctGatron (Industries) 12-Oct 18-Oct 20 04-Oct 18-OctIsmail Industries 12-Oct 19-Oct 17.5 04-Oct 18-OctCherat Papersack 13-Oct 27-Oct 20,20(B) 05-Oct 27-OctEcopack Ltd 13-Oct 26-Oct - - 26-Oct

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Johnson & Philips 9.5 10 8.5 10 0.5 125Pakistan CablesXD 54.48 53.5 52 53.5 -0.98 5025TRG Pakistan Ltd 4.27 4.44 4.27 4.39 0.12 4688938Indus Fruit 0.8 1 1 1 0.2 1000Murree Brewery 92.3 93.96 91 91.04 -1.26 11231Shezan International 94.05 98.75 94.1 98.5 4.45 1238Grays of Cambridge 57.8 58.75 54.91 58.4 0.6 2874Lakson Tobacco 345.14 362.39 332.1 353.86 8.72 8462Pak Tobacco 111.03 114.5 112.45 113.88 2.85 145482Shifa Int Hosp XD 31.7 31.7 31.7 31.7 0 812Eye Television 22.06 23.16 22.7 22.8 0.74 1831Pak Hotels 62 58.98 58.91 58.98 -3.02 102PIAC(A) 2.07 2.22 2 2.1 0.03 14485AKD Capital 54.31 57.02 53 57.02 2.71 41277Pace (Pak) Ltd 2.9 3.19 2.82 3.02 0.12 6440849Netsol Technol 17.51 17.85 17.42 17.66 0.15 314839

Symbols Open High Low Close Change Vol

Friday, October 8, 20107

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 162.32 points at 10,191.68. Volume was

121 per cent above average and Bollinger Bands were 61 per cent

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

market will see major 1st resistance level at 10,251.80 and 2nd

resistance level at 10,311.85, while Index will continue to find its 1st

support level at 10,080.50 and 2nd support level at 9,969.25.

KSE 100 INDEX is currently 2.6 per cent above its 200-day moving

average and is displaying an upward trend. Volatility is low as com-

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

Volume indicators reflect volume flowing into and out of INDEX at a

relatively equal pace. Trend forecasting oscillators are currently

bullish on INDEX.

RSI (14-day) 65.25 Support 1 10,080.50

MA (5-day) 10,066.67 Support 2 9,969.25

MA (10-day) 10,023.74 Resistance 1 10,251.80

MA (100-day) 9,869.79 Resistance 2 10,311.85

MA (200-day) 9,937.59 Pivot 10,140.55

Technical Analysis Leverage Position

Bank Alfalah Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

BAFL closed up 0.68 at 9.02. Volume was 512 per cent above average

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

BAFL is currently 15.9 per cent below its 200-day moving average and is

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

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

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

oscillators are currently bullish on BAFL.

*Arif Habib Ltd 14 Buy

AKD Securities Ltd 12.47 Buy

TFD Research 14.01 Positive

RSI (14-day) 69.31 Free Float Shares (mn) 674.58

MA (10-day) 8.25 Free Float Rs (mn) 6,084.69

MA (100-day) 8.88 ** NOI Rs (mn) N/A

MA (200-day) 10.73 Mean 8.69

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

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed up 1.17 at 24.65. Volume was 155 per cent above average

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

DGKC is currently 10.3 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is relatively normal as 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 44 Buy

AKD Securities Ltd 44.13 Buy

TFD Research 36.85 Positive

RSI (14-day) 50.52 Free Float Shares (mn) 182.55

MA (10-day) 24.06 Free Float Rs (mn) 4,499.85

MA (100-day) 24.91 ** NOI Rs (mn) 19.53

MA (200-day) 27.47 Mean 24.08

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 1.59 at 48.58. Volume was 200 per cent above average

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

NML is currently 8.4 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 NML (mildly bullish). Trend forecast-

ing oscillators are currently bullish on NML.

*Arif Habib Ltd 65 Buy

AKD Securities Ltd 61.46 Buy

TFD Research 74.2 Positive

RSI (14-day) 60.91 Free Float Shares (mn) 175.80

MA (10-day) 47.03 Free Float Rs (mn) 8,540.36

MA (100-day) 46.36 ** NOI Rs (mn) 28.65

MA (200-day) 53.04 Mean 47.95

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

Technical Analysis Leverage Position

Hub Power Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

HUBC closed down -0.09 at 33.03. Volume was 169 per cent above average

(trending) and Bollinger Bands were 40 per cent narrower than normal.

HUBC is currently 1.9 per cent below its 200-day moving average and is

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

volatility over the last 10 trading sessions. Volume indicators reflect mod-

erate flows of volume out of HUBC (mildly bearish). Trend forecasting

oscillators are currently bearish on HUBC.

*Arif Habib Ltd 48 Buy

AKD Securities Ltd 46 Buy

TFD Research 44.9 Positive

RSI (14-day) 38.47 Free Float Shares (mn) 810.01

MA (10-day) 33.10 Free Float Rs (mn) 26,754.57

MA (100-day) 33.95 ** NOI Rs (mn) N/A

MA (200-day) 33.68 Mean 33.09

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed up 0.20 at 19.19. Volume was 73 per cent above average and

Bollinger Bands were 62 per cent narrower than normal.

PTC is currently 2.0 per cent below its 200-day moving average and is dis-

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

average volatility over the last 10 trading sessions. Volume indicators

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

forecasting oscillators are currently bullish on PTC.

AKD Securities Ltd 24.18 Buy

TFD Research 30.5 Positive

RSI (14-day) 58.28 Free Float Shares (mn) 584.63

MA (10-day) 18.86 Free Float Rs (mn) 11,219.14

MA (100-day) 18.84 ** NOI Rs (mn) 7.46

MA (200-day) 19.58 Mean 19.09

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

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 0.76 at 28.36. Volume was 79 per cent above average and

Bollinger Bands were 25 per cent narrower than normal.

FFBL is currently 1.3 per cent below its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on FFBL.

*Arif Habib Ltd 33 Buy

AKD Securities Ltd 32.87 Accumulate

TFD Research 29.1 Neutral

RSI (14-day) 57.96 Free Float Shares (mn) 326.94

MA (10-day) 27.39 Free Float Rs (mn) 9,271.98

MA (100-day) 27.71 ** NOI Rs (mn) 0.01

MA (200-day) 29.30 Mean 28.00

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

Technical Analysis Leverage Position

Lucky Cement Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

LUCK closed up 1.89 at 72.49. Volume was 61 per cent above average

and Bollinger Bands were 42 per cent narrower than normal.

LUCK is currently 3.7 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 volume flowing into and out of LUCK at a relatively equal pace.

Trend forecasting oscillators are currently bullish on LUCK.

*Arif Habib Ltd 83 Buy

AKD Securities Ltd 108.5 Buy

TFD Research 72.75 Neutral

RSI (14-day) 63.32 Free Float Shares (mn) 129.35

MA (10-day) 70.26 Free Float Rs (mn) 9,376.58

MA (100-day) 66.65 ** NOI Rs (mn) 3.70

MA (200-day) 69.93 Mean 71.58

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,006.13 1,033.10 998.51 1,025.13 19.00 1.89

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

4,282,990 - - 29,771.58 mn 17,494.80 mn 1,025.13

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

6.76 0.28 4.09 104.19 27.11 1,006.13

1st Fid Leasing 264 - 1.25 1.25 1.25 1.25 0.00 3005 2.24 1.01 - - - -

AL-Meezan Mutual F.SPOT 1375 2.77 6.89 7.20 6.91 7.17 0.28 292461 7.25 6.35 - - 18.5 -

AL-Noor Modaraba 210 5.09 2.60 2.70 2.50 2.70 0.10 1690 3.44 2.10 - - 5 -

Atlas Fund of Funds 525 2.03 3.26 3.60 3.51 3.59 0.33 6076 4.20 2.53 - - - -

B R R Guardian Mod. 780 - 1.29 1.15 1.10 1.10 -0.19 162501 2.43 0.90 - - 0 -

Crescent St Modaraba 200 2.24 0.56 0.72 0.46 0.56 0.00 33909 0.90 0.16 - - 1.2 -

Elite Cap Modaraba 113 4.43 2.51 2.88 2.64 2.88 0.37 3602 3.49 1.65 4.5 - 5 -

Equity Modaraba 524 - 1.05 1.19 0.90 0.93 -0.12 26602 1.50 0.76 - - - -

First Capital Mutual F. 300 3.33 3.24 3.10 3.10 3.10 -0.14 45000 3.80 0.99 - - - -

First Dawood Mutual F. 581 - 1.55 1.64 1.42 1.55 0.00 27620 2.09 1.36 - - - -

Golden Arrow 760 3.99 3.66 3.75 3.65 3.67 0.01 174997 3.88 2.32 - - 17 -

H B L Modaraba 397 5.87 6.31 6.80 6.35 6.63 0.32 97697 6.80 4.80 5 - 11 -

Habib Modaraba 1008 4.51 6.00 6.00 5.94 6.00 0.00 103311 7.49 5.56 20 - 21 -

Imrooz Modaraba 30 6.14 61.52 58.45 58.45 58.45 -3.07 500 69.95 43.00 63 - 76 -

JS Growth Fund 3180 37.00 2.89 3.00 2.77 2.96 0.07 198409 4.39 2.70 - - 5 -

JS Value Fund 1186 - 2.85 3.01 2.85 3.00 0.15 2450746 3.98 2.31 10 - 10 -

Meezan Bal. FundSPOT 1200 2.84 5.90 5.95 5.75 5.87 -0.03 16577 7.49 5.75 - - 15.5 -

NAMCO Bal. Fund 1000 2.90 2.99 2.90 2.50 2.90 -0.09 111 3.70 2.25 5 - 15 -

Nat Bank Modaraba 250 6.71 7.08 7.08 7.02 7.05 -0.03 5000 8.45 6.10 - - 10 -

Pak Modaraba 125 0.99 0.50 0.80 0.60 0.80 0.30 7251 1.07 0.25 - - - -

Pak Prem Fund 1698 3.74 7.72 7.85 7.71 7.85 0.13 121177 9.86 7.00 - - 18.6 -

Pak Strat Fund 3000 5.47 6.91 7.00 6.88 7.00 0.09 130008 8.10 6.01 - - 11.53 -

PICIC Energy Fund 1000 2.55 4.58 4.79 4.56 4.79 0.21 13999 6.49 4.00 - - 5 -

PICIC Growth Fund 2835 2.31 8.01 8.55 8.16 8.40 0.39 121766 10.55 7.60 - - 20 -

PICIC Inv Fund XD 2841 1.83 3.54 3.65 3.55 3.63 0.09 36603 5.00 3.50 - - 10 -

Prud Modaraba 1st XD 872 2.63 1.00 1.00 0.92 1.00 0.00 100929 1.20 0.70 - - 3 -

Punjab Modaraba 340 - 1.09 1.26 0.98 1.26 0.17 37675 2.00 0.57 - - - -

Stand Chart Mod. XD 454 4.83 8.50 8.50 8.50 8.50 0.00 27700 10.99 7.75 16.5 - 17 -

Tri-Star 1st Mod. 212 49.67 2.30 3.25 1.30 1.49 -0.81 117 7.12 1.11 - - - -

Tri-Star Mutual 50 0.85 1.10 1.60 1.01 1.40 0.30 1303 2.99 0.95 - - - -

U D L Modaraba 264 2.57 6.25 6.51 6.27 6.45 0.20 33080 6.51 5.00 10 - - -

UNICAP Modaraba 136 - 0.27 0.13 0.10 0.13 -0.14 1500 0.35 0.05 - - - -

Paid up Last 60 days 2009 2010

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

338.99 356.29 331.15 346.24 7.26 2.14

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

16,806,647 - - 30,336.44 mn 25,260.06 mn 356.81

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

0.42 0.16 37.22 4.60 10.93 338.99

AMZ Ventures 225 - 0.58 0.65 0.47 0.55 -0.03 26272 1.15 0.42 - - - -

Arif Habib Invest. XB 360 6.53 14.00 14.40 13.60 13.97 -0.03 5865 20.99 13.00 - - - 20B

Arif Habib Limited XB 450 6.52 25.03 26.28 24.62 26.16 1.13 92636 50.12 24.62 15 25B - 20B

Arif Habib Securities 3750 2.23 21.53 22.60 21.40 22.54 1.01 3700481 35.65 20.90 - - 30 -

Dawood Equities 250 - 1.65 1.95 1.78 1.89 0.24 4299 3.36 1.55 - - - -

First Credit & Invest Bank Ltd 650 32.00 3.93 4.00 3.11 3.84 -0.09 5078 4.33 2.00 - - - -

Grays Leasing 215 - 1.80 1.50 1.50 1.50 -0.30 401 4.00 0.32 - - - -

IGI Investment Bank 2121 - 1.78 1.90 1.75 1.90 0.12 1315 2.43 1.17 - - - -

Invest and Fin Sec 600 2.76 7.50 8.24 7.50 7.93 0.43 4132 9.00 6.90 - - 11.5 -

Invest Bank 2849 - 0.55 0.73 0.50 0.66 0.11 294660 1.23 0.44 - - - -

Ist Cap Securities 2878 1.75 4.01 4.75 4.15 4.26 0.25 293081 5.40 2.54 - 10B - 10B

Ist Dawood Bank 626 0.31 1.77 1.95 1.65 1.85 0.08 72910 2.84 1.17 - - - -

Jah Siddiq Co 7633 - 9.13 9.45 8.81 9.16 0.03 9516155 15.47 8.80 -243.778B 10 -

JOV and CO 508 - 2.10 2.29 1.96 2.21 0.11 2133524 6.48 1.96 - - - -

JS Global Cap XD 500 - 28.43 29.85 27.01 27.07 -1.36 30056 42.00 27.01 150 - - -

JS Investment 1000 11.76 5.31 5.49 5.10 5.29 -0.02 329825 8.65 5.10 - - - -

KASB Securities 1000 - 3.85 4.39 3.55 3.63 -0.22 216555 5.49 3.20 - - - -

Orix Leasing 821 3.95 4.91 5.10 4.85 5.02 0.11 38192 5.95 3.66 - - - -

Pervez Ahmed Sec 775 - 1.45 1.59 1.41 1.51 0.06 38766 2.89 1.35 -231.08R - -

Sec Inv Bank 514 - 2.00 2.00 1.65 1.95 -0.05 5199 3.80 1.65 - - - -

Trust Inv Bank 586 - 2.00 2.00 1.26 1.87 -0.13 2288 4.25 1.26 - - - -

Paid up Last 60 days 2009 2010

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

815.77 825.55 814.13 823.69 7.92 0.97

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

21,312 - - 2,290.72 mn 8,850.75 mn 823.69

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

74.05 2.85 3.85 355.53 4.80 815.77

EFU Life Assurance XB 850 33.05 58.99 61.25 58.61 60.82 1.83 11312 84.99 51.25 5513.33B - -

New Jub Life Insurance 627 52.50 42.00 42.00 42.00 42.00 0.00 10000 46.00 34.50 10 - - -

Paid up Last 60 days 2009 2010

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

939.49 971.18 936.80 963.41 23.92 2.55

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

29,072,368 - - 257,548.02 mn 591,830.64 mn 963.41

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

6.74 0.91 13.45 34.35 5.10 938.12

Allied Bank Limited 7821 5.57 51.49 52.00 50.80 51.55 0.06 145844 59.70 48.51 40 10B 20 -Askari Bank 6427 6.07 14.33 14.70 14.30 14.69 0.36 72159 17.46 13.99 - 20B - -Atlas Bank 5001 - 2.34 2.48 2.22 2.30 -0.04 717409 2.84 1.52 - - - -Bank Alfalah 13492 12.03 8.34 9.07 8.33 9.02 0.68 9031833 10.25 7.32 8 - - -Bank AL-Habib 7322 6.90 32.19 32.45 31.90 32.02 -0.17 1102214 34.00 29.10 20 20B - -Bank Of Khyber 5004 3.06 3.15 3.20 3.01 3.06 -0.09 4399 4.75 2.50 - - - -Bank Of Punjab 5288 - 8.04 8.42 8.01 8.29 0.25 867903 11.24 7.35 - - - -BankIslami Pak 5280 - 3.05 3.24 3.04 3.15 0.10 17602 3.87 2.31 - - - -Faysal Bank 6091 3.12 13.32 13.66 13.35 13.56 0.24 63295 15.95 12.75 - - - -Habib Bank Ltd 10019 6.12 93.51 95.35 93.20 95.13 1.62 110654 109.10 92.00 60 10B - -Habib Metropolitan Bank 8732 5.60 18.65 19.00 18.75 18.94 0.29 12662 23.75 18.10 10 16B - -JS Bank Ltd 6128 - 2.59 2.70 2.50 2.54 -0.05 63551 3.00 2.00 - - - 66RKASB Bank Ltd 9509 - 2.37 2.89 2.35 2.39 0.02 289278 3.75 2.03 - 26B - -MCB Bank Ltd 7602 9.11 189.47 196.64 189.50 195.38 5.91 1535809 214.99 180.40 110 10B 55 -Meezan Bank 6983 7.20 14.52 14.85 14.51 14.84 0.32 2752 16.50 13.80 - 5B - -Mybank Ltd 5304 - 2.24 2.37 2.16 2.33 0.09 106144 3.28 1.62 - - - -National Bank 13455 5.40 62.77 64.60 62.83 64.33 1.56 1800163 73.89 60.51 75 25B - -NIB Bank 40437 - 2.57 3.08 2.53 3.04 0.47 9259730 3.50 2.42 - - - -Royal Bank Ltd 17180 - 5.60 6.60 5.45 5.91 0.31 177055 12.90 5.20 - - - -Samba Bank 14335 - 1.90 2.05 1.87 1.88 -0.02 262651 2.90 1.55 - - -63.46RSilkbank Ltd 26716 13.73 2.99 3.05 2.95 3.02 0.03 3001504 3.30 2.15 - - - -Soneri Bank 6023 - 5.60 5.88 5.60 5.70 0.10 104185 7.99 5.01 - - - -Stand Chart Bank 38716 9.14 6.38 6.50 6.25 6.40 0.02 19578 8.50 6.00 - - - -Summit Bank Ltd 5000 - 2.89 3.09 2.77 2.86 -0.03 115449 4.15 2.30 - - - -United Bank Ltd 12242 6.15 51.89 52.35 51.56 52.26 0.37 303994 60.20 49.90 25 10B 10 -

Paid up Last 60 days 2009 2010

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

604.66 625.07 602.01 619.76 15.10 2.50

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

1,368,809 - - 11,111.34 mn 40,372.60 mn 619.76

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

8.91 0.46 5.20 79.54 8.93 603.62

Adamjee Insurance XD 1237 11.95 63.43 66.60 63.40 65.72 2.29 414788 89.90 63.05 30 10B 10 -

Paid up Last 60 days 2009 2010

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,677.57 1,713.03 1,669.05 1,705.48 27.91 1.66

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

9,713,267 - - 12,202.80 mn 37,984.20 mn 1,705.48

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

12.47 1.42 11.41 66.79 5.36 1,651.65

Sui North Gas 5491 19.26 31.21 32.77 31.25 32.75 1.54 7850019 32.77 25.00 - - - -Sui South Gas 6712 4.55 29.86 30.00 29.60 29.80 -0.06 1863248 30.70 16.00 - - 15 25B

Paid up Last 60 days 2009 2010

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,137.13 1,151.76 1,133.60 1,141.17 4.04 0.36

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

12,639,749 - - 95,369.29 mn 96,854.06 mn 1,141.17

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

12.48 1.17 9.35 104.13 8.34 1,129.49

Genertech 198 - 0.80 0.79 0.70 0.75 -0.05 3471 1.53 0.51 - - - -

Hub Power XD 11572 6.12 33.12 33.25 32.96 33.03 -0.09 4660866 37.24 32.75 33.5 - 50 -

Japan Power 1560 - 1.35 1.55 1.40 1.51 0.16 162931 2.38 0.70 - - - -

KESC 7932 - 2.06 2.15 2.00 2.08 0.02 536958 2.63 1.92 - 31R - 7.8R

Kohinoor Energy 1695 5.79 23.00 23.75 23.50 23.50 0.50 16005 26.50 23.00 45 - 15 -

Kohinoor Power 126 3.06 5.25 5.50 4.90 5.50 0.25 499 7.00 3.90 - - - -

Kot Addu Power 8803 7.16 41.15 41.85 41.25 41.36 0.21 303263 44.85 39.51 64.5 - 50 -

Nishat Chunian Power Ltd 3673 - 10.93 11.55 11.00 11.50 0.57 1230792 11.55 9.50 - - - -

Nishat Power Ltd 3541 88.71 11.79 12.57 11.90 12.42 0.63 5145643 12.57 9.25 - - - -

Sitara Energy Ltd 191 3.86 22.80 22.00 21.66 21.66 -1.14 88599 23.49 20.00 20 - 20 -

Southern Electric 1367 5.64 2.20 2.25 2.15 2.20 0.00 486714 3.21 2.10 - - - -

Tri-star Power XD 150 - 0.70 0.95 0.70 0.75 0.05 4001 1.69 0.33 3 - - -

Paid up Last 60 days 2009 2010

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,097.44 1,117.09 1,093.32 1,109.94 12.50 1.14

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

4,760,800 - - 50,077.79 mn 78,320.41 mn 1,109.94

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

6.10 0.78 12.84 62.56 10.26 1,090.38

Pakistan Telecomm Co A 37740 9.14 18.99 19.25 18.94 19.19 0.20 3374537 20.22 17.32 15 - 17.5 -Telecard 3000 - 2.03 2.19 1.97 2.11 0.08 458248 3.15 1.80 - - - -WorldCall Tele 8606 - 2.36 2.55 2.40 2.45 0.09 927990 3.30 2.30 - - - -Wateen Telecom Ltd 6175 - 3.90 3.93 3.60 3.81 -0.09 457164 6.13 3.60 - - - -

Paid up Last 60 days 2009 2010

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

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

Ask Gen Insurance 204 6.25 11.45 11.00 11.00 11.00 -0.45 149 11.89 8.45 - - - -

Atlas Insurance 369 4.33 30.00 29.49 29.11 29.38 -0.62 2280 31.00 27.10 40 10B - -

Central Insurance XB 279 5.02 48.00 49.00 48.50 48.50 0.50 200 64.90 47.37 20 25B 10 10B

Century Insurance 457 5.61 9.52 10.00 9.98 9.98 0.46 1000 11.95 9.00 - - - -

EFU General Ins. XB 1250 28.72 35.52 36.50 35.00 36.19 0.67 36681 55.20 34.76 40 8.7B - -

Habib Insurance 400 7.36 10.30 10.60 10.50 10.60 0.30 3412 13.89 10.10 35 - - -

Pak Reinsurance 3000 - 13.08 14.05 13.10 13.86 0.78 908365 19.40 12.50 30 - - -

Reliance Insurance XB 252 4.44 6.26 6.48 6.48 6.48 0.22 584 7.25 6.02 - - - -

Silver Star Insurance 253 1.75 7.00 7.94 7.01 7.04 0.04 686 10.00 6.00 - 20B - -

United Insurance XB 400 1.16 5.00 4.65 4.60 4.65 -0.35 650 7.15 4.02 - 16B - -

UPTO 100 VOLUME

SHCM 14.00 15.00 13.00 14.00 0.00 100

CHAS 9.15 9.14 9.14 9.14 -0.01 100

BWCL 25.90 25.80 25.80 25.80 -0.10 100

HINO 110.05 115.55 115.00 115.55 5.50 100

JUBS 2.99 2.50 2.50 2.50 -0.49 99

TSML 30.00 29.20 28.50 29.20 -0.80 91

NSRM 15.20 16.20 16.20 16.20 1.00 86

MRNS 52.70 53.40 53.00 53.00 0.30 60

FCONM 1.43 1.98 1.00 1.49 0.06 57

PRWM 16.60 16.80 15.75 16.80 0.20 57

AGSML 8.94 8.95 7.94 8.38 -0.56 53

SHJS 59.85 62.50 58.86 60.90 1.05 50

COTT 1.49 2.00 1.50 1.53 0.04 35

DIIL 15.93 16.92 14.93 16.03 0.10 33

MUKT 0.40 0.53 0.40 0.47 0.07 32

ISTM 4.00 4.50 4.50 4.50 0.50 30

PAKD 107.85 102.46 102.46 102.46 -5.39 25

DMTM 3.03 3.04 2.43 2.51 -0.52 23

SCLL 2.29 2.29 2.29 2.29 0.00 20

MIRKS 60.01 57.05 57.02 57.04 -2.97 20

UDPL 14.17 13.17 13.17 13.17 -1.00 20

MOON 10.69 11.12 11.12 11.12 0.43 19

SZTM 8.48 9.48 7.48 7.48 -1.00 16

RCML 24.00 24.00 24.00 24.00 0.00 14

FNEL 9.92 10.00 8.92 10.00 0.08 13

ADOS 19.80 20.65 19.00 20.65 0.85 12

IGIIL 74.41 73.99 71.51 73.99 -0.42 11

NESTLE 1911.55 1990.00 1911.01 1927.53 15.98 11

BFMOD 4.09 4.90 4.13 4.13 0.04 10

NPSM 20.98 22.00 22.00 22.00 1.02 10

SANSM 13.90 13.90 13.90 13.90 0.00 10

FRCL 3.10 4.00 3.00 3.00 -0.10 10

SCL 53.69 53.90 51.05 51.05 -2.64 8

SGPL 0.35 0.36 0.35 0.36 0.01 7

MFFL 62.00 62.00 62.00 62.00 0.00 7

TOWL 20.00 20.00 20.00 20.00 0.00 5

JKSM 6.25 6.10 5.60 6.10 -0.15 4

SJTM 1.05 0.43 0.43 0.43 -0.62 4

PTEC 1.94 2.00 1.25 1.53 -0.41 3

DREL 710.00 699.99 674.50 699.99 -10.01 3

GUTM 20.45 21.47 19.50 21.47 1.02 2

CJPL 0.85 0.90 0.90 0.90 0.05 2

KSBP 81.01 81.78 81.78 81.78 0.77 2

TRSM 2.20 2.90 2.90 2.90 0.70 1

ESBL 2.65 2.70 2.65 2.65 0.00 1

DCM 1.25 1.38 1.38 1.38 0.13 1

CSIL 4.68 5.65 5.45 5.45 0.77 1

PIL 1.85 2.35 2.35 2.35 0.50 1

PINL 9.24 9.44 9.39 9.39 0.15 1

DATM 0.57 0.57 0.57 0.57 0.00 1

MQTM 7.00 6.75 6.75 6.75 -0.25 1

SHTM 0.85 0.97 0.94 0.94 0.09 1

BHAT 166.85 159.00 159.00 159.00 -7.85 1

GFIL 3.83 3.55 3.55 3.55 -0.28 1

HUSI 10.27 10.85 10.00 10.00 -0.27 1

BTL 49.99 49.89 49.89 49.89 -0.10 1

MUBT 0.80 1.39 1.39 1.39 0.59 1

FECS 38.00 39.90 39.89 39.89 1.89 1

SGMLPS 3.50 3.50 3.50 3.50 0.00 1

SMCPL 6.79 6.98 6.88 6.88 0.09 1

MDTL 55.10 56.50 56.50 56.50 1.40 1

SAPL 119.00 124.95 121.99 121.99 2.99 1

LPGL 9.01 8.50 8.25 8.50 -0.51 1

SITC 121.33 127.00 125.95 125.95 4.62 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

NML-OCT 44.89 46.79 45.19 46.45 1.56 745500

DGKC-OCT 23.57 24.74 23.60 24.74 1.17 493000

NBP-OCT 63.00 64.79 63.05 64.52 1.52 284000

MCB-OCT 189.32 195.55 189.10 194.32 5.00 229500

PSO-OCT 266.26 272.25 267.00 271.87 5.61 133500

PPL-OCT 174.83 179.02 175.50 178.62 3.79 128500

POL-OCT 239.70 242.00 239.50 241.68 1.98 122000

POL-OCTB 223.93 226.00 221.25 226.00 2.07 100500

ENGRO-OCT 174.47 177.70 174.31 176.79 2.32 94000

ANL-OCT 10.00 10.34 10.10 10.29 0.29 87000

AICL-OCT 63.68 66.85 64.30 65.69 2.01 63500

LUCK-OCT 66.90 68.80 66.00 68.69 1.79 48500

PTC-OCT 19.21 19.30 19.20 19.25 0.04 33000

OGDC-OCT 145.00 146.55 145.50 146.50 1.50 14500

FFC-OCT 106.92 106.92 106.92 106.92 0.00 5000

UBL-OCT 52.49 52.00 52.00 52.00 -0.49 500

AICL-COCT 64.13 0.00 0.00 66.36 2.23 0.00

ABL-COCT 52.06 0.00 0.00 52.05 -0.01 0.00

AKBL-COCT 14.49 0.00 0.00 14.83 0.34 0.00

ATRL-COCT 81.51 0.00 0.00 82.83 1.32 0.00

ANL-COCT 10.09 0.00 0.00 10.39 0.30 0.00

Symbols Open High Low Close Change Vol

ZERO VOLUME

AABS 96.75 93.00 93.00 93.00 -3.75 0.00

ALQT 3.25 3.75 3.75 3.75 0.50 0.00

ARPAK 7.00 8.00 8.00 8.00 1.00 0.00

ARUJ 4.49 4.72 4.72 4.72 0.23 0.00

ELCM 9.80 10.00 10.00 10.00 0.20 0.00

GLAT 8.75 8.25 8.25 8.25 -0.50 0.00

IDEN 10.00 11.00 11.00 11.00 1.00 0.00

ILTM 90.00 90.29 90.29 90.29 0.29 0.00

KOHS 4.74 4.70 4.70 4.70 -0.04 0.00

MLCFPS 6.98 6.74 6.74 6.74 -0.24 0.00

MODAM 1.00 0.98 0.98 0.98 -0.02 0.00

NAKI 16.25 16.00 16.00 16.00 -0.25 0.00

NONS 11.05 11.20 11.20 11.20 0.15 0.00

SERF 0.15 0.17 0.17 0.17 0.02 0.00

SHCI 2.75 2.60 2.60 2.60 -0.15 0.00

SHNI 13.40 13.38 13.38 13.38 -0.02 0.00

UVIC 3.00 3.10 3.10 3.10 0.10 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 42.21 2.85 2.60 3.35 3.60 3.10

Allied Bank Limited 48.31 50.90 50.25 52.10 52.65 51.45

Attock Cement 38.96 63.50 63.00 64.75 65.50 64.25

Arif Habib Limited 34.51 25.10 24.05 26.75 27.35 25.70

Arif Habib Securities 42.80 21.75 21.00 22.95 23.40 22.20

Adamjee Insurance 40.53 63.90 62.05 67.10 68.45 65.25

Askari Bank 50.87 14.40 14.15 14.80 14.95 14.55

Azgard Nine 50.94 10.05 9.85 10.45 10.60 10.25

Attock Petroleum 79.45 355.30 350.25 364.05 367.80 359.05

Attock Refinery 51.53 80.80 79.55 83.00 83.95 81.75

Bank Alfalah 69.31 8.55 8.05 9.30 9.55 8.80

BankIslami Pak 50.60 3.05 2.95 3.25 3.35 3.15

Bank Of Punjab 49.36 8.05 7.85 8.45 8.65 8.25

Dewan Cement 56.15 1.35 1.15 1.75 1.90 1.50

DGKCement 50.52 23.90 23.15 25.00 25.40 24.25

Dewan Salman 41.86 1.35 1.30 1.45 1.50 1.40

Dost Steels Ltd 48.78 2.05 2.00 2.15 2.20 2.10

EFU General Insurance 35.46 35.30 34.40 36.80 37.40 35.90

EFU Life Assurance 50.30 59.20 57.60 61.85 62.85 60.25

Engro Chemical 51.20 174.45 172.90 177.30 178.55 175.70

Faysal Bank 48.59 13.40 13.20 13.70 13.85 13.50

Fauji Cement 45.31 4.55 4.30 5.00 5.20 4.75

Fauji Fert Bin 57.96 27.80 27.25 28.70 29.05 28.15

Fauji Fertilizer 56.68 105.75 104.65 107.75 108.60 106.60

Habib Bank Ltd 47.55 93.75 92.40 95.90 96.70 94.55

Hub Power 38.47 32.90 32.80 33.20 33.35 33.10

ICI Pakistan 52.10 118.05 116.05 121.45 122.90 119.45

Indus Motors 51.91 220.60 214.25 231.80 236.65 225.45

JOV and CO 24.91 2.00 1.80 2.35 2.50 2.15

Japan Power 51.14 1.45 1.35 1.60 1.65 1.50

JS Bank Ltd 56.31 2.45 2.40 2.65 2.80 2.60

Jah Siddiq Co 44.21 8.85 8.50 9.45 9.80 9.15

Kot Addu Power 48.88 41.15 40.90 41.75 42.10 41.50

KESC 50.64 2.00 1.95 2.15 2.25 2.10

Lucky Cement 63.32 71.15 69.75 73.25 74.05 71.90

MCB Bank Ltd 59.31 191.05 186.70 198.20 201.00 193.85

Maple Leaf Cement 43.27 2.75 2.65 2.95 3.10 2.85

National Bank 51.92 63.25 62.15 65.00 65.70 63.90

Nishat (Chunian) 65.61 18.05 17.85 18.50 18.70 18.25

Netsol Technologies 34.07 17.45 17.20 17.85 18.05 17.65

NIB Bank 67.14 2.70 2.35 3.25 3.45 2.90

Nimir Ind.Chemical 39.37 1.30 1.25 1.40 1.45 1.35

Nishat Mills 60.91 47.60 46.65 49.20 49.85 48.25

Oil & Gas Dev XD 58.28 145.55 144.00 148.10 149.15 146.55

PACE (Pakistan) Ltd 63.05 2.85 2.65 3.20 3.40 3.00

Pervez Ahmed Sec 44.36 1.40 1.30 1.60 1.70 1.50

PIAC(A) 45.31 2.00 1.90 2.20 2.35 2.10

Pioneer Cement 57.48 7.85 7.60 8.25 8.35 8.00

Pak Oilfields 67.89 239.85 238.45 242.30 243.40 240.90

Pak Petroleum 40.27 175.95 173.10 180.45 182.10 177.60

Pak Suzuki 46.86 72.15 70.35 76.65 79.30 74.80

PSO XD 60.14 267.90 264.55 273.05 274.85 269.70

PTCLA 58.28 19.00 18.80 19.30 19.45 19.15

Shell Pakistan 41.26 192.45 191.50 194.70 196.00 193.75

Sui North Gas 76.36 31.75 30.75 33.25 33.80 32.25

Sitara Peroxide 49.39 8.20 7.85 8.85 9.20 8.55

Sui South Gas 77.75 29.60 29.40 30.00 30.20 29.80

Telecard 45.07 2.00 1.85 2.20 2.30 2.10

TRG Pakistan 65.58 4.30 4.20 4.45 4.55 4.35

United Bank Ltd 45.33 51.75 51.25 52.55 52.85 52.05

WorldCall Tele 47.11 2.40 2.30 2.55 2.60 2.45

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

(Colony) Thal Textile Mills Ltd 08-Oct 10:00

Ados Pakistan Ltd 08-Oct 11:00

Ahmad Hassan Textile Mills Ltd 08-Oct 10:00

AKD Capital Limited 08-Oct 5:00

AKD Income Fund 08-Oct 3:30

AKD Index Tracker Fund 08-Oct 3:30

AKD Opportunity Fund 08-Oct 3:30

Al-Qadir Textile Mills Ltd 08-Oct 11:00

Ayesha Textile Mills Ltd 08-Oct 11:00

Chakwal Spinning Mills Ltd 08-Oct 10:00

Colony Mills Ltd 08-Oct 11:30

D.S Industries Ltd 08-Oct 4:30

Dar Es Salaam Textile Mills Ltd 08-Oct 11:00

Diamond Industries Ltd 08-Oct 11:00

Eye Television Network Limited 08-Oct 4:00

First National Equities Ltd 08-Oct 10:00

First Pak Modaraba 08-Oct 5:00

Genertech Pakistan Ltd 08-Oct 12:00

Ghani Gases Ltd 08-Oct 3:00

Goodluck Industries Ltd 08-Oct 3:00

BOARD MEETINGS

Company Date Time

Bank of England keeps rates atrecord low 0.5pc

US and Afghans at oddsover Kabul Bank reform

Friday, October 8, 2010 8

Islamicbankingsize seenat $2.7tn

ABU DHABI: Islamic bankingis growing at a fast pace and itssize globally is expected toreach $2.7 trillion (Dh9.9 tril-lion) by 2015, up from an esti-mated $1 trillion at present, asenior executive of Abu DhabiIslamic Bank (ADIB) said yes-terday.

"Globally, the industry isgrowing at a double digit rate(annually). Due to its trans-parency, trust and ethical prac-tices, clients are increasinglylooking at Islamic solutions forthemselves," Malek Sarwar,Co-Head of Private Bankingand Wealth ManagementGroup, told reporters at a newsconference.

He said Islamic banking hasseen a ten-fold increase over aten-year period. Sarwar said atpresent, of the estimated Dh1.5trillion worth of assets held bydomestic and foreign banks inthe UAE, 16 per cent was inIslamic banking.

Separately, ADIB on Mondayannounced the launch of itswealth management servicethat will cater to the needs ofmass, affluent and high networth customers.

ADIB Wealth Managementoffers a range of investmentsolutions such as sukuk, equity,treasuries, commodities, mutu-al funds, real estate advisory,trust, private equity and otherSharia-compliant opportunitiesworldwide.

These cater to different riskand return levels and are basedon financial objectives, risk tol-erance and investment timehorizons desired by clients."Wealth management is centralto our plans ...and we have allo-cated sufficient resources to letit spread its wings not only inthe UAE but also globally. It isa step in the direction of mak-ing the bank a globally pre-ferred Islamic finance solutionsprovider," ADIB quoted itschief executive TiradMahmoud as saying. -Agencies

Staff poachinghurts Asia’s

private

bankers SINGAPORE: Legions ofnewly wealthy are springing upin Asia but private bankersscrambling to manage theirmoney are struggling to cope.

Faced with a 31 per centsurge in the investible incomeof the wealthy in Asia last year,private banks are increasinglypoaching relationship managers(RMs), bankers who take theirclients and their money wher-ever they go, from rivals.

It's a relatively easy way togrow a business battered by thefinancial downturn two yearsago, but costs are high and apredator can easily become avictim.

"The one common thread thateveryone's complaining of isthe RMs' musical chairs," SuShan Tan, DBS group head ofwealth management, said at theReuters Global Private BankingSummit. "We are all guilty tosome extent of poaching peo-ple. We all agree that weshouldn't be doing it but wehave no choice so we do it," shesaid. "The cost-income ratio isno longer sustainable in ourbusiness because the cost ofhuman beings has just gonethrough the roof." While theranks of wealthy in Europe andthe United States are stagnatingor growing slowly, the numberof Asians with more than $1million to invest shot up 26 percent to 3 million last year,according to Capgemini andMerrill Lynch. -Reuters

KARACHI: Pakistan'sbanking industry witnesseda 5.4 per cent growth in itsasset base, which rised to Rs6,782 billion during theApril-June quarter of the2009-2010 fiscal year(FY10) compared with acontraction of 1.4 per centin the Jan-March quarter ofFY10.

According to State Bankof Pakistan's QuarterlyPerformance Review of theBanking System for thequarter ending on June 30,which was released here, theincrease in asset base of thebanking system , which waswell supported by growth indeposits, mainly occurred inbanks' balances, interbanklending, government papersand public sector commodi-ty finance.

Banking industry'sdeposits rose to Rs 5,128billion in April-June quartercompared with overalldeposits of Rs 4,774 billionin Jan-March quarter ofFY10.

The Report pointed outthat the banking system wit-nessed a letup in the inflowof fresh non-performingloans (NPLs) during thequarter under review thathas been a leading chal-lenge for the last two yearsor so.

The NPLs of banks regis-tered a marginal growth of0.6 per cent to Rs 460 billionin April-June 2010 quarter(Rs457 billion in March-10)as compared to last twoyears average quarterlygrowth of 9.7 per cent.

Due to contained increasein NPLs that was adequatelycovered by loan loss provi-sioning, the provision cov-erage ratio of NPLsimproved to 73.2 per cent

(70.9 per cent in March-10)and net NPLs to Loans ratiodeclined to 3.8 per cent (4.2per cent in March-10).

The contained provision-ing charges preserved theprofitability of the systemfrom any significant deterio-ration and earningsremained in satisfactoryrange with pre-tax Returnon Assets of 1.8 per cent(1.3 per cent for CY09). Theearnings of individual banksalso showed some improve-ment as the number of loss-making banks remainedlower than CY09 statistics,the Report added.

The SBP Report said thatdue to shift in asset-mix ofbanks towards less riskyassets, the risk-based capitaladequacy ratio of the systemimproved to 13.9 per cent(13.7 per cent in March-10)as compared to the mini-mum regulatory standard of10 per cent.

Moreover, due to con-tained growth in NPLs andimprovement in provision-ing coverage, the risk tobanks' solvency fromimpairment in asset qualityalso lowered.

Given the likely impact ofrecent floods, ongoing chal-lenging economic environ-ment, power shortage andsecurity situation in thecountry, the increased port-folio of NPLs and height-ened credit risk remain themajor challenge for thebanking system.

However, the Report saidthat the results of the stresstests indicate banking sys-tem's adequate capacity towithstand unusual shocks inthe major risk factors andavert the emergence of anysystemic crisis from suchshocks. -Agencies

Lenders’depositsswell up

to Rs5.12tn

BRUSSELS: A EuropeanUnion tax on bank profits andremuneration could raise asmuch as 25 billion euros($34.97 billion) annually forcash-strapped governments torepair their economies, thebloc's executive said onThursday.

The European Commissionwas outlining its ideas for aFinancial Activities Tax(FAT), saying banks were"under taxed" and should con-tribute to rebuildingeconomies they damaged.

Tax is a matter for nationalgovernments in the EU and itis unclear if any activities taxwill be introduced; talksbetween governments on anyEU-wide tax could take yearsto bear fruit.

The Commission alsobacked a tax on financialtransactions such as stock andbond trades, as called for byGermany and France.

The idea, often referred toas a "Tobin Tax" after the USeconomist James Tobin whoproposed it in the 1970s,should only be introduced ona global basis so as to avoid

business shifting elsewhere,EU Tax CommissionerAlgirdas Semeta said.

Semeta said the impact oftaxes, along with globalmoves to beef up bank capitaland introduce a possible sur-charge on big banks, shouldbe studied for their cumula-tive impact first.

EU states including Britainand Germany are planning anational levy on bank balancesheets to pay for futurebailouts and Semeta said allthe bloc's tax moves should becoordinated to avoid overlaps.

"We have to be cautious andprudent in calibrating a pro-posal," Semeta told a newsconference. EU finance min-isters and leaders will discussSemeta's ideas later thismonth ahead of "policy initia-tives" next year. EU leadersagreed in June the bloc shouldlead efforts to set a globalapproach for introducing sys-tems for levies and taxes onbanks.

Semeta said an activities taxwould make the sector stabler,raise more revenue and taxfinancial services more fairly

as they are largely exemptfrom value added tax.

An FAT on total remunera-tion and profit could raise 25billion euros for a tax rate of5 per cent, the Commissionsaid.

British Prime MinisterDavid Cameron said onWednesday the governmentwas "sorting out the banks" toencourage lending to smallbusinesses. A governmentsource said this was a warningto banks that they shouldboost lending or face a toughresponse, possibly in the formof an FAT on profits andremuneration.

The International MonetaryFund proposed a FAT earlierthis year to the Group of 20(G20) leading economieswhich has agreed in principlethat banks, and not taxpayers,should pay for rescues infuture.

Kay Swinburne, a memberof the European Parliamentfrom Cameron's party, wel-comed the Commission'sview that a transaction taxshould not be introduced uni-laterally in the EU. -Reuters

EU executive lays out25bn euro bank tax idea

DUBAI: A woman walks past a branch of Dubai's Islamic Bank in the Gulf emirate.-Reuters

SBP Reviews 2Q Performance

Shabbir Kazmi

KARACHI: The IslamicFinance News Award Pollsare the most transparent,definitive and competitiveawards in the Islamic financeindustry. Launched in 2005,Best Islamic Banks Poll grewrapidly to become widely rec-ognized as the one to win.Each year new categorieshave been added reflectingthe industry's growth. By2009, the Poll recognized twovery distinctive groups, thebanks and the serviceproviders.

During the month ofSeptember Poll of globalreadership for the 2010Islamic Finance news ServiceProviders was conducted. In13 categories contested atotal of 1,956 votes were cast.Following due diligence 450votes were discarded leaving1,506 votes counting for thefinal results.

In addition to the 11 previ-

ously contested categories,two new classes were addedthis year. These were 'MostOutstanding Standard SettingBody' and 'Best Interbrokerfor Islamic Transactions'. Thewinners were:

Accounting and AuditingOrganization for IslamicFinancial Institutions(AAOIFI), InternationalShariah Research Academy(ISRA), Dar Al Sharia Legaland Financial Consultancy,CIMB Islamic, HSBCAmanah, Takaful Ikhlas,Munich Re, Dow JonesIslamic, DDCAP, FitchRatings, Norton Rose, Dar AlSharia Legal and FinancialConsultancy, Path Solutions

Winners will receive theawards during two galaAwards Ceremonies takingplace early 2011. The firstwill take place on the eveningof the 24th February in KualaLumpur Malaysia and thesecond in Dubai on 2ndMarch.

IFN announcesBest Service

Providers’ Awards

Two Dubaibanks hold

merger talks Monitoring Desk

DUBAI: Emirates IslamicBank and Dubai Bank are mak-ing considerable headway intheir initiative to join forces fol-lowing the successful comple-tion of a merger between twoother Dubai banks this year,banking sources said onSunday.

The two Dubai-based Islamicbanks have been holding talkson the possibilities of either atakeover or a merger like thelandmark marriage betweenEmirates Bank Internationaland the National Bank of Dubaito create a banking giant knownas Emirates NBD, the sourcestold. However, a spokesman ofEmirates NBD, the parent bankof Emirates Islamic Bank, saidhe could neither confirm ordeny the merger move asreported by the Arabic Press.

Spokespersons for bothEmirates Islamic Bank andDubai Bank were not availablefor comments on Sunday.

Another future scenarioreportedly figuring in the nego-tiations is the possible acquisi-tion of the cash-strappedShariah-compliant mortgagecompany Amlak Finance by thenewly merged Islamic bankingentity, banking sources said.

“As both Dubai Bank andAmlak face liquidity issues, amerger or takeover is aninevitable reality. [The] sooner,the better,” a banking source,who wants to remain unidenti-fied, said.

GENEVA: Tax authorities inEurope should not buy stolendata to help find tax evaders inoffshore centers, a top HSBCprivate banker said.

"It saddens me to think thatany government would will-ingly pay for stolen informa-tion. No two wrongs evermade a right, at least that'show I was taught," HSBCPrivate Bank Chief FinancialOfficer Leigh Robertson toldthe Reuters Global PrivateBanking Summit onWednesday.

HSBC said earlier this yearthat a former IT employee atthe bank had stolen data on upto 24,000 offshore clientaccounts in Switzerland, ofwhich 15,000 were existingcustomers.

The details have since foundtheir way into the hands of anumber of tax authorities inEurope and many havelaunched investigations intopeople they believe may haveheld

undeclared money in Swissbank accounts at HSBC.

Other investigations areunderway in European coun-tries after Germany boughtstolen data fromLeichtenstein's LGT and morerecently from Credit Suisse.

Robertson said HSBC lostprivate banking clients as aresult of the theft, but hadrecovered much of the lostclient assets this year.

HSBC Private Bank, whichmanages about $445 billion ofassets globally, attracted 4.9billion Swiss francs of newclient money at its Swiss oper-ations in the first half of theyear, earnings statementsshow.

Robertson said the bank hadput a lot of work into mollify-ing clients affected by thestolen data, some of whichwere difficult to track downsince they had long left thebank.

"It has forced us to engageour clients," he said. "The

reaction of the clients wasmostly disappointed. Somejust said fine, how did it hap-pen, make sure it doesn't hap-pen again."

The thefts took place ascountries around the devel-oped world heightened effortsto claw back tax revenues lostto offshore banking.

In a landmark case, USauthorities forced Swiss bankgiant UBS to pay a $780 mil-lion fine and disclose thou-sands of client account details.

New legislation pending theUnited States aims to placethe burden of disclosure ofdetails of US account holderson foreign financial institu-tions, putting a 30 per centtax on their investments inUS assets if they do not com-ply.

Robertson said the legisla-tion was "incredible" and saidthe most likely outcomewould be to make financialinstitutions turn away poten-tial US clients. -Reuters

Govts should not payfor stolen data: HSBC

StandardChartered to

start trading asan LME memberLONDON: London-basedbank Standard Chartered Bankis to begin trading and clearingas a member of the LondonMetal Exchange from Monday,Oct. 11, the LME said onWednesday.

The LME board of directorsin late July approved the bank'sapplication to becomeAssociate Broker Clearingmember, also known asCategory 2 member.

Associate Broker Clearingmembers have the ability toissue and clear LME contracts.

They operate through the 24-hour inter-office telephonemarket and also utilise theexchange's electronic tradingplatform, LMEselect, but arenot permitted to trade in theExchange's open outcry tradingfloor, the Ring. -Reuters

LONDON: Copper tumbledon Thursday as the dollarrecovered against the euro ina move that coincided with aWorld Bank warning curren-cy tensions could lead totrouble.

The metal used in powerand construction hit $8,326 atone on Wednesday, its high-est since July 2008 on expec-tations the US FederalReserve will print moremoney to help boost growthin the United States, theworld's largest economy.

Benchmark copper on theLondon Metal Exchange wastrading at $8,155 a tonne at1412 GMT compared with$8,259 at Wednesday's close.

The dollar recovered afterWorld Bank President RobertZoellick said if currency ten-sion slides into conflict therewas a risk of repeating mis-takes of the 1930s.

Industrial metals marketsimmediately latched onto theidea of a depression such asthat seen in the 1930s and

started fretting about demandprospects.

Copper has risen nearly 40per cent since hitting aneight-month low in June thisyear, at the forefront of a risein metals prices which sawtin on Wednesday hit a recordhigh.

Overall the dollar's down-trend over the last month hasbeen a source of strong sup-port for commodities. Aweaker US currency makescommodities priced in dollarscheaper for holders of othercurrencies.

Focus will now shift to twokey events on Friday - thereturn of Chinese playersafter a week-long holiday andUS non-farm payrolls datafor September.

Thursday's data showed

LME stocks down 675 tonnesto 373,450 tonnes, the lowestsince October 2009.

Among other metals, tinwas trading at $26,200 versusWednesday's close at$26,300, short of the previ-ous session's record peak at$26,790, underpinned bytight supply from topexporter Indonesia and lowstocks.

Stainless steel materialnickel was at $24,270 a tonnefrom Wednesday's close of$24,800, while lead was at$2,255 a tone versus $2,316.Zinc was trading $2,285 atonne versus Wednesday'sclose of $2,334.

Aluminium was trading at$2,352 a tonne from $2,365at the close on Wednesday.-Reuters

Copper prices sag asdlr recovers versus euro

9Friday, October 8, 2010

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1300 1165

October (3rd Wednesday) 1305 1150

November (3rd Wednesday) 1315 1160

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for October 06 2010

LME Official Prices, US$ per tonne for October 06 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2250 2334 8215 2293 24850 26395 2297 2229

Cash seller 2260 2335 8215.5 2293.5 24875 26400 2298 2230

3-months buyer 2210 2369.5 8238 2321 24875 26350 2326 2250

3-months seller 2220 2370 8239 2321.5 24880 26400 2326.5 2260

15-months buyer 2150 2445 8130 2327 24125 25700 2372 2260

15-months seller 2160 2450 8140 2332 24225 25750 2377 2270

27-months buyer 2150 2510 7860 2305 23025 2360 2310

27-months seller 2160 2515 7870 2310 23125 2365 2320

LONDON METAL EXCHANGE (METALS)

LONDON: Gold slid below$1,340 an ounce in its mostvolatile trading day in twomonths on Thursday, havingearlier hit a record high oninvestor expectations for theFederal Reserve to supportflagging US growth.

Spot gold was last at$1,337.75 an ounce at 1451GMT, up from $1,345.80 lateon Wednesday,but down froman all-time peakof $1,364.60struck earlier inthe day as arebound in thedollar againstthe euro dentedgold.

The Fed is still widelyexpected to resume quantita-tive easing -- in which the cen-tral bank would buy govern-ment bonds for example andpump extra cash into the finan-cial system to keep interestrates low -- which has pushedthe dollar down 7 per centagainst a basket of currenciesin the last month.

Gold, which usually benefitsfrom dollar weakness due to itsinverse relation with the UScurrency, has gained nearly 10per cent in the same period.

US gold futures forDecember delivery hit a freshrecord high at $1,366 an ounce,before easing to $1,350.40, up$2.4 an ounce on the day.

Gold has gained more in dol-lars so far this month than inother currencies. In euros gold

is up just 0.6 per cent thismonth, compared to a 2.8 percent gain in dollar-priced gold,while yen-priced and sterling-priced gold are both up 1.3 percent.

Both the Bank of Englandand the European Central Bankleft their benchmark ratesunchanged, as expected. TheECB signalled it was happy

with the signs of normalisationin the money markets and saideconomic recovery in the eurozone would continue.

Gold retreated from earlierhighs after the world's third-largest producer of the metal,Anglogold Ashanti said it hadcompleted the buy-back of itshedgebook, previously thelargest in the industry.

But on a supportive note forgold, state media in Vietnamreported that Asia's secondlargest bullion consumer afterIndia would grant licences andquotas to import gold, whichwas banned in mid-2008 aspolicymakers attempted totackle the country's tradedeficit.

Nervousness over the out-look for US growth washeightened on Wednesday after

a survey of private-sectoremployment showed a surprisecontraction in September,which further unsettledinvestors ahead of Friday's keyemployment report.

"With expectations for quan-titative easing high, data moni-toring between now and theNov. 3 (Fed policy setting)meeting becomes even more

s i g n i f i c a n t , "wrote UBS ana-lyst Edel Tullyin a note.

"The short-term directionof the US dol-lar, and there-fore gold, willbe influenced

by tomorrow's US payrollsdata: a positive or negativedeviation from expectationswill weigh heavily on marketthinking about quantitativeeasing prospects."

Spot silver hit a new 30-yearhigh at $23.51 an ounce, butlater eased to $23.02, downfrom $23.13 on Wednesday.

Holdings in the iSharesSilver Trust, the world's largestsilver-backed, exchange-tradedfund, rose to a fresh recordhigh of 9,944.14 tonnes.

The platinum group metalsretained gains. Spot platinumrose to $1,723, its highest sincemid-May and was last up 0.5per cent on the day at$1,702.50, while palladium hita new nine-year peak at$602.50 and was last up nearly3 per cent at $592.00. -Reuters

Gold turns lower afterhitting record high

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Thursday'sRotterdam vegetable oil price'sat 21:00 PST.

SOYOIL EU: Degummedeuro tonne fob exmill Oct10unq Nov10/Jan11775.00Feb11/Apr11 780.00

RAPEOIL Dutch/EU: Eurotonne fob exmill Nov10/Jan11785.00 +5.00 Feb11/Apr11790.00+2.00 May11/Jul11800.00+5.00 Aug11/Oct11790.00+5.00

SUNOIL EU: Dlrs tonneextank six ports optionNov10/Dec10 1250.00+20.00Jan11/Mar11 1205.00+20.00Apr11/Jun11 1195.00+20.00Jul11/Sep11 1215.00

LINOIL: any origin dlrstonne extank RotterdamOct10/Nov10 1357.50+0.00

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Oct10955.00 +20.00 Nov10952.50+20.00 Dec10952.50+22.50 Jan11/Mar11950.00 +20.00

PALMOIL RBD: Dlrs tonnefob Malaysia Nov10945.00+20.00 Dec10937.50+22.50

PALM OLEIN RBD: Dlrstonne fob Malaysia Nov10955.00+20.00 Dec10 947.50+22.50 Jan11/Mar11942.50+20.00 Apr11/Jun11947.50+22.50

COCONUT OIL Phil/Indondlrs tonne cif RotterdamSep10/Oct10 1390.00+15.00Oct10/Nov10 1380.00+15.00Nov10/Dec10 1380.00+20.00Dec10/Jan11 1380.00 +20.00Jan11/Feb11 1375.00+15.00Feb11/Mar11 1375.00+15.00

TUNGOIL any origin dlrstonne extank Rotterdam unq

CASTOROIL any origin dlrstonne extank RotterdamOct10/Nov10 2000.00+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

07-Oct-2010 CRUDE100 NO10 US$ Per Barrel 82.70 84.37 82.45 84.37 250 83.54 84.37 75

07-Oct-2010 CRUDE100 DE10 US$ Per Barrel 83.56 85.02 83.38 85.02 70 84.24 85.02 37

07-Oct-2010 CRUDE100 JA11 US$ Per Barrel 84.18 85.72 84.18 85.72 - 85.02 85.72 -

07-Oct-2010 SILVER - SL500 NO10 US$ Per Troy Ounce 22.82 23.44 22.82 23.44 - 23.36 23.44 -

07-Oct-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 22.91 23.47 22.84 23.46 47 23.38 23.46 6

07-Oct-2010 GOLD 01oz NO10 US$ Per Troy Ounce 1345.40 1364.40 1344.00 1361.40 722 1354.30 1361.40 861

07-Oct-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1347.10 1365.30 1344.50 1362.30 1,133 1355.30 1362.30 1,138

07-Oct-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1346.50 1365.60 1346.10 1363.20 1,222 1356.20 1363.20 604

07-Oct-2010 GOLD 100oz NO10 US$ Per Troy Ounce 1344.20 1361.40 1344.20 1361.40 - 1354.30 1361.40 -

07-Oct-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1345.50 1365.20 1345.20 1362.30 49 1355.30 1362.30 11

07-Oct-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1346.10 1362.30 1346.10 1362.30 - 1356.20 1363.20 -

07-Oct-2010 GOLD OC10 Per 10 grms 37362.00 37749.00 37302.00 37720.00 9 37573.00 37720.00 47

07-Oct-2010 GOLD NO10 Per 10 grms 37311.00 37728.00 37311.00 37728.00 - 37582.00 37728.00 -

07-Oct-2010 GOLD DE10 Per 10 grms 37325.00 37743.00 37325.00 37743.00 - 37596.00 37743.00 -

07-Oct-2010 Kilo GOLD OC10 Per 10 grms 37300.00 37794.00 37274.00 37692.00 3 37545.00 37692.00 4

07-Oct-2010 Tola Gold50 OC10 Per Tola 43476.00 43963.00 43476.00 43963.00 - 43792.00 43963.00 -

07-Oct-2010 Tola Gold100 OC10 Per Tola 43476.00 43963.00 43476.00 43963.00 - 43792.00 43963.00 -

07-Oct-2010 Mini Gold 1-Aug Per 10 grms 38355.00 38764.00 38355.00 38764.00 - 38617.00 38764.00 -

07-Oct-2010 Mini Gold 2-Aug Per 10 grms 38394.00 38802.00 38394.00 38802.00 - 38656.00 38802.00 -

07-Oct-2010 Mini Gold 3-Aug Per 10 grms 38407.00 38815.00 38407.00 38815.00 - 38669.00 38815.00 -

07-Oct-2010 Mini Gold 4-Aug Per 10 grms 38329.00 38827.00 38329.00 38827.00 - 38682.00 38827.00 -

07-Oct-2010 Mini Gold 5-Aug Per 10 grms 38342.00 38752.00 38342.00 38752.00 - 38604.00 38752.00 -

07-Oct-2010 TT Gold 1-Sep Per Tola 44068.00 44546.00 44068.00 44546.00 - 44373.00 44546.00 2

07-Oct-2010 IRRI6W 07OC10 Per 100 kg 2402.00 2402.00 3175.00 3175.00 - 3176.00 3175.00 -

07-Oct-2010 Rice IRRI - 6 OC10 Per 100 kg 3185.00 3185.00 3183.00 3183.00 - 3185.00 3183.00 -

07-Oct-2010 RBD Palm Olein OC10 Per Maund 4168.00 4211.00 4168.00 4211.00 - 4168.00 4211.00 -

07-Oct-2010 KIBOR3M 10-Dec Per Rs. 100 86.69 86.69 86.64 86.64 - 86.69 86.64 -

07-Oct-2010 KIBOR3M 11-Mar Per Rs. 100 86.13 86.13 85.65 85.65 - 85.65 85.65 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

MOSCOW: Grain combine harvesters mow wheat at Argostroy farm, some 450 km south ofBarnaul city in the Altai region. Reuters

LONDON: Oil slipped from afive-month high above $84 abarrel on Thursday on concernsthat a rally driven by a weaken-ing dollar had run ahead of themarket's fundamentals of sup-ply and demand.

A falling US dollar, linked toan expected inflow of freshdollars into the economy, hasspurred money flows into oiland other commodities. Oilreversed course as the dollarpared its losses and equitiesslipped.

"It highlights the nervous-ness in the market about under-lying fundamentals and worrythe rally may be getting aheadof them," said Gene McGillian,an analyst at Tradition Energyin Stamford, Connecticut.

US crude for November fell40 cents to $82.83 by 1431GMT, after trading as high as$84.43, the highest intradayprice for a nearby contractsince May 4. ICE Brent slipped50 cents to $84.56.

"The market is very nervousand there was some profit-tak-ing," said Christopher Bellew,an oil broker at BacheCommodities in London.

A French oil port strike thathas disrupted supplies limitedthe decline. Talks betweenstrikers at the Fos Lavera portand management were in dead-lock, the port said as the strikeentered its 11th day.

The dispute has blocked oiltankers, forced some oilrefineries to reduce operationsand driven up fuel prices inEurope -- supporting the wideroil market.

"It will have a very strongimpact on the supply of oil

products," said ChristopheBarret, an oil analyst at CreditAgricole. "I think it is one ofthe main factors supportingproduct and crude oil prices."

The prospect of a secondround of US quantitative eas-ing, known as QE2, hangs inpart on US employmentreports. Closely watchedmonthly data are due onFriday.

In a precursor of the monthlyjobs figures, ADP's nationalemployment report onWednesday said private employ-ers in the US cut 39,000 jobs inSeptember, versus expectationsfor an increase. -Reuters

Oil slips afterhitting 5-monthhigh above $84

NEW YORK: Cotton futuresclosed firmer Wednesday oninvestor buying tied in part tothe expectation a governmentreport on Thursday will showstrong US cotton export sales,brokers said.

The market is also bracingfor Friday's release of themonthly supply/demand reportfrom the US AgricultureDepartment, they said.

ICE Futures US benchmarkDecember cotton contract rose1.19 cents to finish at 99.75cents per lb. The contracttraded from 98.10 to $1.0014.

It is an inside day since therange is within Tuesday's 96.90to $1.004 band.

Total volume traded reached11,478 lots at 1830 GMT,about a third below the 30-dayaverage at 18,107 lots, prelim-inary Thomson Reuters datashowed.

Cotton brokers expect totalUS cotton sales to range from300,000 to 500,000 runningbales (RBs, 500-lbs each),from 842,400 RBs in lastweek's data.

After the data goes out,Nelson said the focus will

quickly turn to the USDA'ssupply report. Traders said thefocus will be on US cottonexports, and production num-bers from China, India andPakistan.

Brokers Flanagan TradingCorp. sees resistance in theDecember cotton contract at$1.004 and $1.0135, with sup-port to be found at 99.50 and98.65 cents.

Volume traded on Mondayreached 28,039 lots, from theprior tally of 20,034 lots, datafrom ICE Futures US said. -Reuters

NY cotton ends firmer astrade eyes USDA reports

Sugar ralliesas funds buy;arabicas rise

LONDON: Raw sugar futuresrallied four per cent onThursday on investor and fundbuying, closing in on a recent7-month high and buoyed by aweaker dollar, while arabicasrose but remained far off a 13-year high touched last month.

Cocoa gained after an inde-pendent analyst talked ofblack pod disease harmingWest African new crops, onexpectations of a slightly pos-itive European Q3 grind to bereleased next week and due tonervousness over elections inIvory Coast, dealers said.

ICE March raw sugarfutures were up 0.9 cent or 3.8per cent at 24.44 cents a lb at1145 GMT, having earliersurged over 4 per cent to a ses-sion high of 24.53 cents.

The futures were in sight ofa seven month peak of 27.17cents touched on September29.

London December whitesugar was up $17.50 or 2.8 percent at $643.10 per tonne inslim volume of 1,222 lots.

January robusta futures wereup $5 or 0.3 per cent at $1,662a tonne at 1207 GMT, farbelow last Friday's close of$1,750.

Arabica coffee futures on ICErose with the market looking toregain ground after a significantsetback during the last couple ofweeks. ICE December cocoawas up $47 or 1.7 per cent at$2,791 per tonne. Liffe second-month March cocoa was 16pounds or 0.9 per cent higher at1,885 pounds a tonne. -Reuters

KUALA LUMPUR: Malaysian palm oil hita near 17-month high on Thursday as tradersbet the weak dollar may spur more demandfor US priced vegetable oil from top buyersChina and India.

The dollar held near a 15-year low onexpectations the US Federal Reserve willshift towards a looser monetary policy andspur another round of quantitative easing -- ascenario that has supported equity and com-modity markets.

Investors expect the world's top vegetable oilbuyers China and India to restock after festivalseason ends, focusing on palm oil fromMalaysia and Indonesia that will go through aseasonal upswing in production and soyoilfrom a bumper US crop.

Benchmark Malaysian palm oil rose almost2 per cent to 2,786 ringgit ($901.3) aftertouching an intraday high of 2,788 ringgit -- alevel unseen since May 13 last year.

"Palm oil is trading in a friendly mode as

worldwide commodities and regional equitymarkets are very supportive," said a traderwith foreign brokerage in Kuala Lumpur.

Reuters technical analysis showedMalaysian palm oil could trade at a bullishtarget of 2,750 ringgit.

Market players await industry regulatorMalaysian Palm Oil Board unveiling officialdata on October 11.

October soyoil in Chicago inched up duringAsian trade hours ahead of the USDA's agri-cultural supply and demand estimates due forrelease on Friday.

Analysts said the USDA might pare its soyproduction estimate due to a downwardadjustment in planted acreage in the US eventhough farmers have been reaping bumperyields. Asian traders are waiting for China'sfinancial markets to open on Friday after one-week holidays. China's Dalian soyoil andpalm olein futures often give direction toother vegetable oil markets. -Reuters

Palm at 1-year top onstrong demand hopes

Tokyo rubberfutures upagain on

tight supplyBANGKOK: Tokyo rubberfutures rose further on Thursday,hitting a five-month high on theback of tight supply in producingcountries, but the gains were lim-ited by the strength of theJapanese yen, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for March deliveryrose 2.6 yen to settle at 324.3yen ($3.91) per kg. It rose atone stage to 324.5 yen, thehighest since late April.

The dollar was around a 15-year low against the yen.

The global rubber marketcould see two years of tightsupplies and rising prices asoutput sputters while producersreplace ageing trees and asdemand increases.

Thailand and Indonesia, theworld's top two producers ofnatural rubber, are likely to pro-duce 9 per cent and 7.7 per centless than previous estimatesrespectively due to excessiverain, a senior industry officialsaid. Natural rubber output inAssociation of Natural RubberProducing Countries (ANRPC)in 2011 is likely to be steady tolower than the current year, asenior ANRPC official said onWednesday. -Reuters

10Friday, October 8, 2010

Jamaica's Lerone celebrates after winning

the men's 100 metre final during CWG

Intikhabappointed as

managerKARACHI: The PakistanCricket Board has brought backformer test captain, IntikhabAlam as the manager of thenational team after the troubledtour to England.

Sources in the Pakistan boardtold Reuters that the boardwould be making an officialannouncement soon on Alam'sappointment.

Alam, who was coach of thenational team until early thisyear, replaces Yawar Saeedwho stepped down as managerafter the controversial Englandtour.

Alam was coach betweenOctober 2008 to the shambolictour to Australia early this yearafter which he was replaced ascoach by Waqar Younis.-Reuters

Olympicpark to

be namedafter queen

LONDON: The Olympic park,which will be renamed theQueen Elizabeth Olympic Parkafter it reopens in 2013, willinclude family and social hous-ing, new schools, nurseries, andhealth centres next to commer-cial businesses.

The Olympic Park LegacyCompany (OPLC) is waitingfor this month's comprehensivespending review to find outhow much money it will haveto help transform the site.

But it, and other interestedparties including Mayor ofLondon Boris Johnson and BobNeill, at the department forCommunities and LocalGovernment, said they couldleverage investment in the parkfrom around the world.

The economic climate waslikely to improve, and the parkwould build on facilitiesalready put in place for the 9.3billion pound Olympics.

"The vision has the potentialto transform East London sothat it grows and prospers withthe rest of the capital," Neilltold reporters.

The park and its surroundingarea will be transformed overthe next 25 years from one ofthe most deprived parts of thecountry into a 600-acre sitewith 11,000 new homes,including the 2,800 flats in theOlympic Village.

It is hoped up to 10,000 jobswill be created on the site, inaddition to the 8,500 jobs inWestfield Stratford City,Europe's biggest indoor shop-ping centre, when it opens nextyear.

The northern end of the parkwill focus on leisure activitieswith its waterways and greenspace, next to the Velopark andEton Manor, housing hockeyand tennis.-Reuters

NEW DELHI: ThreeUgandan officials have beeninjured in a car accident atthe gates of theCommonwealth Games vil-lage caused by a safetyequipment malfunction, theUgandan high commissionsaid Thursday.

The officials - Games chefde mission WilliamTumwine, press attaché JulietAcom, and administrativeofficer Irene Matovu -- weretravelling to the athletes' vil-lage Tuesday night whentheir car was struck by a "tyrekiller."

The underground "tyrekiller" barrier is a sharp-edged device that pops up tostop unauthorised cars.

Ugandan minister counsel-lor Dora Kutesa told AFP theofficials were hospitalisedand two of them requiredstitches for facial injuries.

"There were police thereand no one came forward tohelp them," Kutesa said."They had to call the ambu-lance themselves."

A Delhi police spokesmanconfirmed that the accidentoccurred because of a mal-functioning tyre killer whichhas since been disabled.

The accident is the latestmishap to hit the DelhiGames, which have beendogged by corruption allega-tions, shambolic planning,delayed infrastructure andpoor ticket sales.

Kutesa expressed frustra-tion at the inability of theembassy to contact the rele-vant Indian authorities aboutthe accident.

"We spent all day yesterdaytrying to reach someone...now we have given up," shesaid. "We are now concen-trating on the well-being ofour people."

All three patients were dis-charged from hospitalWednesday. TheCommonwealth Games,which runs to October 14, is amulti-sport event that bringstogether 71 countries and ter-ritoires mostly from the for-mer British empire. -APP

Instrumental error

injures Ugandans

in Delhi Games

TOKYO: World number oneRafael Nadal showed beatCanadian qualifier Milos Raonicon Thursday to join Americansecond seed Andy Roddick in thequarter-finals of the Japan Open.

The 24-year-old Spanish topseed, who completed a careerGland Slam by winning the USOpen last month, faced 14unstoppable aces but pulled offa break in each set to score asolid 6-4, 6-4 victory.

"For me today it was a verybig victory, because I won twobreak points out of two underheavy pressure," said Nadal.

"Because when you play abig server like today, you haveto convert your chances. I hadto do well to win the matchtoday and I did. I had only twogames that I didn't play well,but for the rest, I played well."

"I know he is a young anddangerous player because of his

serve. He can be a very goodplayer," added Nadal, who haswon the French Open andWimbledon before the USOpen as well as the AustralianOpen last year.

The 28-year-old Roddick,whose only title of the seasoncame at Brisbane in January,needed just 91 minutes tosecure a 6-4, 7-6 (7/4) victoryover Jeremy Chardy of Francein the second round.-Reuters

Nadal, Roddick inJapan Open quarters

LAHORE: Pakistan CricketBoard on Thursday announced15-member team, withoutnaming captain, for One-dayand Twenty-20 series againstSouth Africa starting fromOctober 26 at off shore venue,United Arab Emirates.

"Captain will be named short-ly and at this stage we have notdecided who will lead the side,"said a spokesman of PCB.

Another important appoint-ment made was of managerIntikhab Alam who is alsoworking as director nationalcricket academy.

Intikhab has replaced agedYawar Saeed who resignedafter Pakistan teams troubledtour of England.

Former test batsman IjazAhmed who was team's battingcoach was shown exit whileWaqar Younis was retained ascoach while Aqib Javed wasgiven the responsibility of thebowling coach.

Following is the squad,ImranFarhat,Mohammad Hafeez,Mohammad Hafeez,Mohammad Yousuf, Misbah ulHaq ,Umar Akmal Asad Shafiq,Fawad Alam ,Shahid Afridi

,Abdur Razzaq ,Umar GulSaeed Ajmal ,Abdur Rehman,Shoaib Akhtar ,TanveerAhmad and Zulqarnain Haider,wicketkeeper.

The spokesman did not giveany reason regarding notappointing captain when hisattention was drawn to the factthat all rounder Shahid Afridiwas earlier named captain of oneday and Twenty-20 matches.

Keeper Zulqarnain replacedregular keeper Kamran Akmalwho has been ruled out ofaction for few weeks followingappendix surgery.-APP

Headless squad announced

NEW DELHI: An urgentenquiry was ordered on Thursdayinto whether the CommonwealthGames swimming pool wasresponsible for a rash of "DelhiBelly" stomach complaintsamong swimmers at the troubledevent.

Reports in the British mediasaid dozens of swimmers hadbeen laid low by diarrhoea,another potential embarrassmentto local organisers struggling toturn around the 12-day multi-sport event after a chaotic run-up.

Health and security concernscaused several athletes to pull outof the Games.

"We must handle this immedi-ately," Games Federation chiefMike Fennell told a news confer-ence. "If there is something thatis unsafe, you can't swim in thatwater. We have to deal with it. It'sa matter we have to deal with thegreatest of urgency."

Crowds were again sparse atmost of the venues but local chieforganiser Suresh Kalmadi said125,000 tickets had been sold onWednesday and was confidentthat empty stands would soon bea thing of the past at the Games,which close on October 14.

Allegations of corruption, shod-dy construction, a filthy athletes'village, security and health con-cerns blighted the preparations.Transport issues, technical mal-functions and problems with foodhave continued the trend into theGames.

Kalmadi has taken most of the

blame for the chaos and wasbooed at the opening ceremonywhile the city's chief ministerSheila Dikshit has received aboost in popularity after steppingin to clean up the village.

Dikshit was at the centre of adiplomatic row on Thursdaywhen India summoned NewZealand's high commissioner toprotest against what it said were"racial remarks" made about herin a television show.

India says a popular TV hostdeliberately mispronounced andridiculed Dikshit's name, despitebeing told by the lead anchor thatit was pronounced "Dixit."

New Zealand HighCommissioner Rupert Holborowsaid in a statement the commentswere "culturally insensitive,inappropriate and vulgar."

Back in the village, thousandsof flushed condoms threaten tochoke the drainage system,according to local media reports.

Distributing thousands of freecondoms to athletes has been atradition at multi-sports Gamessince the 1992 BarcelonaOlympics.

"If that is happening, it showsthat there is use of condoms and Ithink that is a very positive story.Athletes are being responsible,"Fennell said. "We all know thatencouraging safe sex is a veryimportant thing to do."

An 100,000-strong securityforce has been deployed to avoida repeat of the attack by militantsthat claimed more than 160 lives

in Mumbai in 2008 complicatedlogistics.

India snared an early goldmedal on the fourth day of com-petition as they continue theirquest to finish second in themedal table with the shootingrange continuing to be fruitful forthe host nation.

Australia's remorseless acquisi-tion of titles on the cycling trackalso continued with Megan Dunn,who won gold for the second suc-

cessive day, giving an insight intothe good spirit and fierce focusthat exists inside the team.

"Australia has had a dream run,everyone's in high spirits. We'relike a big family and everyone'sbouncing off each other," she saidafter winning the 10km scratchrace.

The 'friendly games' is not justabout the medallists, however,and local synchronised swimmerAvani Dave received warm

applause at the pool despite fin-ishing last by some distance.

The 19-year-old marched confi-dently on to the platform beforeperforming her routine to a tunefrom popular Bollywood movieBhool Bhulaiyaa, sometimesstruggling to get her legs clear ofthe water but never losing her ric-tus grin.

Her poor showing was not toomuch of a surprise as she has noproper coaching.-Reuters

Query ordered into CWG pool scare

NEW DELHI: Cricketinggreat Viv Richards feels thegame has hit rock bottom inthe West Indies and lashed outat the board for ostracising for-mer players, preventing themfrom helping revive theCaribbean's glorious past.

The West Indies CricketBoard (WICB) requires the"right opinion" from formercricketers to help cricket moveforward in the West Indies,Richard told Reuters in aninterview.

"I think cricket is at its low-est tier at the moment in theCaribbean. It's not in a healthystate. Lots of work needs to bedone to get it to the rightprominence and to where folks

would believe where weshould be at," Richards said.

The West Indian, the mostdestructive batsman of his era,fumed when asked about therole of former players in crick-et's revival.

"I am not at all involved inWest Indian cricket. Most ofthe former players have beenostracised. Constructive criti-cism is not much accepted inthe Caribbean," the 58-year oldsaid.

"I would love to take a rolelike Greg Chappell did forAustralia. I think I have a goodeye for talent and this is some-thing that we have never takenon board in the Caribbean."

Former Australian captain

Chappell was the head coach atAustralia's Centre ofE x c e l l e n c ebefore taking ona new role asAustralia's firstfull-time selectorand national tal-ent developmenthead last month.

"It doesn'tsmell that goodwhen you have aboard dictated toby the players'association. Thefuture of WestIndies cricket iscertainly in doubt in my opin-ion," said Richards, who is inDelhi as an ambassador for the

Antigua and Barbuda delega-tion in the Commonwealth

Games.Richards, who hit 24 hun-

dreds in 121 tests in the glory

days of Caribbean cricket, feelsthe longer version of the game

still bringsforth the besttalent in thegame.

He was allpraise for thequality ofcricket playedduring India'sthrilling wina g a i n s tAustralia earli-er this week.

"The testmatch... andthe finish ...

that's cricket for me at its verybest. This format sorts thegood ones out from the bad

ones," he said.The West Indian, who had a

strike rate of over 90 in one-daycricket, picked Australia captainRicky Ponting as the mostaggressive batsman in the cur-rent era but India's SachinTendulkar got his vote for thebest batsman.

"Ricky Ponting is the mostaggressive for me ... I havealways liked his aggression. Butthe role Sachin is playing forIndia ... that's batsmanship at itsvery best for me," he went on.

"The things Sachin is doingnow and the way he did them inthe past are two completely dif-ferent chapters in his career. Heis the eldest statesman wherebatting is concerned."

SPOT FIXING

The former West Indian cap-tain was clueless about how thespot fixing menace had made itsway into modern day cricket.

"I would like to think thesalaries are good enough thesedays. If you get to a level andget recognised, you can play intournaments like the IndianPremier League," Richards said,with a wry smile.

Spot fixing has emerged as thelatest threat to the integrity ofcricket after the match-fixingscandal which rocked the game10 years ago.

He was dead serious when hesaid that no bookie could haveapproached him for throwing amatch away.-Reuters

WIndies has hit rock bottom, says Viv

Rooney a bitvulgar, saysUnited mate

ROME: Federico Machedamay be in line for a trickyreturn to Old Trafford after anindiscrete comment to Italianjournalists about beleagueredManchester United team mateWayne Rooney.

England forward Rooney,criticised in the past forswearing and spitting, waselectric last season but strug-gled at the World Cup and hasbeen in poor form this termwhile allegations about hisprivate life have filled thetabloids.

"Rooney is a really greatperson, he always gives meadvice, but he's a bit workingclass and vulgar," Machedatold Thursday's Gazzetta delloSport while in Italy with theUnder-21 team.

Roman Macheda, who him-self hails from the inner citylike Liverpool-born Rooney,is happy learning from thestriker at United and dis-missed speculation he mightjoin former side Lazio on loanto gain more first team oppor-tunities.

"I want to improve inManchester, when I'm moremature I'll be able to makechoices.-Reuters

NEW DELHI: The S P Mukherjee Aquatics Complex is pictured during a break in swimmingcompetition at the Commonwealth Games.-Reuters

PCB names 15-member team for SA tour

n Richards wants mentoring role n Sachin best, Ponting most aggressive: Viv

11Friday, October 8, 2010

International & Continuation

CONTINUATION

LONDON: Five trade unionshave agred to the British gov-ernment's proposed changes toredundancy terms for civilservants, the Cabinet Officesaid on Thursday, but a sixthunion plans to challenge theirlegality.

The changes come as thegovernment plans to slash pub-lic spending to tackle a hugebudget deficit, a move expect-ed to result in thousands of joblosses.

"The previous scheme wassimply no longer fit for pur-pose and had to change," saidCabinet Office ministerFrancis Maude.

"In today's tough economicclimate, we would be failing inour duty to the tax-paying pub-lic if we had allowed itsexcesses, which saw someemployees walking away withpackages worth more than sixyears' pay, to continue."

The new terms, which comeafter 18 months of negotia-tions, would see staff paid amonth's salary for every year

of service, capped at 12 monthsfor compulsory job losses and21 months for voluntary redun-dancies.

All civil servants would alsobe entitled to three monthsnotice of redundancy, theCabinet Office said.

The plans have been agreedby the FDA, Prospect, PrisonOfficers' Association, GMBand Unite unions, whichbetween them represent180,000 staff. But the Publicand Commercial Services(PCS) union, which has270,000 members, hasrefused to back them, poten-tially paving the way for alegal battle.

UNION VETOEarlier this year PCS mem-

bers walked out on strike inprotest at changes to thescheme proposed by the previ-ous government, eventuallysucceeding in having themoverturned after a legal chal-lenge in the High Court.

But along with the newterms, the government plans to

amend the law to remove theability of a union to vetochanges to redundancy com-pensation, a move backed bythe five unions which couldallow the reforms to go aheadwithout the PCS's approval.

The PCS said it was disap-pointed other unions hadaccepted the plans and said itwould demand further talkswith Maude.

Should such talks be refusedor not have a successful out-come, the PCS said it wouldrecommend its membersreject the proposals andwould consider further legalaction. It also plans to chal-lenge the plans under theHuman Rights Act.

"We remain committed toreaching an agreement, but wewill not be bullied into agree-ing massive cuts in redundancyterms simply because the gov-ernment wants to lay waste toour members' jobs and liveli-hoods more cheaply," said PCSgeneral secretary MarkSerwotka.-Reuters

Five unions backUK govt changes to

redundancy pay

WASHINGTON: A Syrianman who was held at the USmilitary prison at GuantanamoBay, Cuba, has sued DefenseSecretary Robert Gates andformer military officers, seek-ing compensation for allegedtorture and inhumane treatmentduring his nine years of deten-tion.

Abdul Rahim Abdul Razak alJanko, 32, was released fromthe prison last October afterwinning a court challenge tohis detention despite the USgovernment's contention thathe had been part of the alQaeda militant group inAfghanistan.

Janko sued Gates and currentand former officials underPresident George W. Bush andPresident Barack Obama,including former DefenseSecretary Donald Rumsfeld.He accuses them of beingresponsible for his torture, aswell as violating the GenevaConventions.

"The United States and itsofficials are responsible for the

human rights violations he hassuffered," says the lawsuitmade public on Thursday. Heseeks unspecified damages andis now living abroad.

Justice Departmentspokesman Dean Boyd saidthe agency was reviewing thelawsuit and will respond incourt. Pentagon officials werenot immediately available forcomment.

Janko went to Afghanistanafter a family fight while hewas living in the United ArabEmirates in 1999, and hehoped humanitarian groupswould help him get to Europe.He fell into the hands of theTaliban, who accused him ofbeing a spy.

Janko was imprisoned andtortured by the Taliban in 2000after he was forced to confesshe was an American and Israelispy, the lawsuit said.

He was initially freed afterthe US-led invasion toppledthe Taliban government in2001.

But in January 2002 US

Attorney General JohnAshcroft and FBI DirectorRobert Mueller accused Jankoof being tied to al Qaeda after avideo of him was found. Hewas imprisoned briefly inKandahar, Afghanistan, beforebeing transferred to theGuantanamo prison.

There, Janko accuses variousUS officials of orchestratingand overseeing his torture,from being urinated on tolengthy sleep deprivation,harsh interrogations and severebeatings. He tried to commitsuicide 17 times, the lawsuitsaid.

Obama has been trying toclose the Guantanamo prisonsince he took office in 2009,arguing that harsh interroga-tions and other activities therehave been used to recruit anti-American militants.

However, the White Househas run into fierce oppositionfrom Republicans in the USCongress, who argue it is thebest place to house and prose-cute terrorism suspects.-Reuters

Ex-Guantanamo detaineesues US for damages

GENEVA: Governments areopening up to outside invest-ment for funds to help theireconomies recover, with liber-alising measures outnumberingthose seeking to keep out for-eign money, a UN reportshowed on Thursday.

The survey of investmentpolicy in 41 countries in thesecond and third quarters ofthis year by the United NationsConference on Trade andDevelopment (UNCTAD)showed the need for funds out-weighed suspicion of foreign-

ers buying up businesses.At the same time many coun-

tries adopted policies tostrengthen the role of the statein the economy, for instancethrough nationalisation inLatin America or stronger reg-ulation of the financial sector,UNCTAD said.

Protectionism remains a seri-ous potential threat to therecovery of foreign directinvestment flows on whichmany developing countriesrely to fund their economies,the UN agency said in its latest

investment policy monitor."The overall trend towards

attracting more foreign invest-ment can enhance the econom-ic recovery in the aftermath ofthe financial crisis," UNCTAD,whose surveys of investmentflows are highly regarded, saidin the report.

This was particularly thecase now that public invest-ment has run out of steam inmany countries while privateinvestment has yet to reassumeits lead role in the global econ-omy.-Reuters

UN agency sees betterforeign investment

Irishsovereign

debt riskierthan Iraq’s

LONDON: Ireland's countrydebt is at a greater risk ofdefault than that of Iraq's andRomania's as its credit defaultswaps (CDS) saw the worstdeterioration among its sover-eign peers over the third quarterthis year, CMA DataVision saidon Thursday.

The cost of insuring Irish debtagainst default or restructuringfor five years leapt 72 per centbetween July and September,above Portugal's 30-per centjump and the 28 per centincrease seen for the US

The credit data provider saidIreland entered into its ranks ofthe 10 riskiest sovereign debtorsthis quarter, coming in sixth,when ratings agency Standard &Poor's cut the euro zone mem-ber's credit ratings by a notchand CDS rose 200 bps inSeptember alone. Ireland is grap-pling with debt that is set to 155billion euros (135.6 billionpounds) this year as its wrestleswith the cost of bailing its banks.

Based on CMA's calculationswhich include the cumulativeprobability of default,Venezuela remains the world'sriskiest sovereign debt issuer,followed by Greece, Argentinaand Pakistan.

Ukraine remains the fifthriskiest sovereign debtor. Dubaiimproved its standing onenotch from the previous quar-ter, becoming the seventh riski-est followed by Iraq. Portugalwas also a new entrant toCMA's riskiest list, coming inat ninth place while Romania'srisk profile improved twonotches to 10th place.

Norway held onto the topposition on the list of theworld's safest sovereign debtissuers followed by Finlandwhile Sweden improved itsstanding by three notches tothird place.

The debt risk profile of the USworsened, coming in at ninthposition on the least risky list,down six notches from the pre-vious quarterly ranking. "TheUS is the worst (CDS) per-former in the top 19 wideningby 8 bps as the world's fluctu-ates between growth and nogrowth scenarios, creating the'double-dip' debate," CMA saidin its statement.-Reuters

Biocon Ltd rose 8.2 per cent to an all-time high after ET NOW televisionreported India's top listed biotechnology firm would outlicense its insulin port-folio for diabetes treatment to Pfizer. It ended up 5.7 per cent up at 402.25rupees after hitting 412.

"The opinions are sharply divided now. Some think the party will continue,while others think the party cannot continue when the market is approachingrecord high levels," said Gajendra Nagpal, CEO at Unicon FinancialIntermediaries. "But I won't read too much into it beyond a small correction.Even if a correction happens, that is only going to be temporary," he said.

The IMF said India's GDP would expand by 9.7 per cent in 2010, up from9.4 per cent it had projected in July. "The IMF forecast was good news, andforeigners are more gung ho than the domestic guys," Nagpal said on the for-eign fund inflows. -Reuters

Continued from page 5No #1

The Nikkei average gained more than 3 per cent over the last two sessionsafter the BOJ pledged on Tuesday that it would pump more funds into thestruggling economy and to keep rates virtually at zero. Shares of the real estatesector stayed strong after the BOJ announced a plan to set up a 5 trillion yen($60 billion) fund to buy a wide range of assets including Japanese real estateinvestment trust (J-REITs).

Mitsubishi Estate rose 2.4 per cent to 1,511 yen, adding to gains of morethan 4 per cent made on Wednesday, and Sumitomo Realty & Developmentclimbed 2.7 per cent to 1,890 yen, after jumping about 5 per cent the previousday. The real estate subindex was up 2.5 per cent. Financials have also per-formed strongly since the BOJ rate cut, with the banking subindex rising 1.7per cent and securities climbing 1.8 per cent. The market was closely watch-ing moves in the yen, which jumped to a new 15-year high against the dollarthe previous day on expectations the Federal Reserve will ease monetary pol-icy to jump start a slumping US economy. -Reuters

Continued from page 5No #2

all-time low against the Swiss franc on the prospect of more money-print-ing by the US Federal Reserve.

Risk-sensitive banks were the biggest drag on the index as investors rotatedout of the sector after heavy buying in recent sessions. HSBC fell 0.3 per centwhile Lloyds Banking Group fell 1.9 per cent. The European Central Bankwill also give its latest interest rate decision at 12:45 p.m., although again nochanges are expected to euro zone monetary policy.

Moves are likely to be relatively limited ahead of US nonfarm payrolls onFriday. Economists forecast a fall of 54,000 jobs, but anything much higherthan this could trigger a sell-off after recent hefty gains. Man Group was thetop blue-chip performer, jumping almost 6 per cent, with traders citing talk ofbid interest from a US investment bank. Its shares are more than 15 per centhigher this week. Defensive pharmaceuticals stocks were also higher withAstraZeneca up 0.9 per cent and GlaxoSmithKline up 0.7 per cent. -Reuters

Continued from page 5No #3

the US jobs report," said Kwong. The Hang Seng Index's more than 10 percent rally over the past five weeks has taken it into technically overbought ter-ritory according to its relative strength index (RSI), currently at 76, and aboveor near the threshold level of 70 since mid-September.

The last time the index's RSI held at around these levels for longer was in2007, when it was trading at record highs.

Trading activity slowed slightly from the high levels of recent sessions.Turnover fell about 8 per cent to the average turnover seen over the past 8days. For the second day, mainland Chinese bank shares, which have largeweightings on Hong Kong indexes and have underperformed this year, sawgains. Analysts at Bank of America Merrill Lynch in Hong Kong said in a notethat when valuations for the Chinese banking sector were last this cheap, theyoutperformed regional shares over the following six months.

Bank of Communications Co Ltd rose 1.4 per cent. Industrial &Commercial Bank of China Ltd rose 0.5 per cent.

ICBC shares have fallen 8.2 per cent this year compared with a 4.6 per centgain for the Hang Seng Index. Its shares trade at a 20 per cent discount to its10-year median price-to-book ratio of 2.4, Thomson Reuters Starmine datashowed. Bank of Communications trades at a 26 per cent discount.

Hutchison Whampoa, the conglomerate controlled by billionaire Li Ka-shing, rose 4.6 per cent and was the biggest boost on the Hang Seng index.

Continued from page 5No #4

While addressing the ceremony, Muhammad Farid Alam, CEO of AKDSecurities said the biggest asset of AKD Group was its clientele and the mostimportant thing was to provide them with the best services. Alam pointed outthat the new software has been developed using the latest technology andkeeping in mind the growing requirements of the investors. It has no compar-ison with any of the software currently used in the industry and is highly com-patible with the softwares used internationally.

Muhammad Haris Aslam, GM - AKD Trade, highlighted the salient featuresof this new software which includes Mobile Trading, SMS Trading and a num-ber of value added tools required to access all the necessary information essen-tial for trading stocks such as Real-Time Graphs, RSS News Feed,Announcements, Tickers, Multiple Market Screens, Voice Alerts, Financialand Technical Data of listed companies etc.

Continued from page 5No #5

Hutchison shares, which are up about nearly 40 per cent this year, are still trad-ing at a 28 per cent discount to their median 10-year forward price-to-earningsmultiple. Weighing on the index, though, were shares of heavyweight HSBC,which fell 0.4 per cent, and Tencent, which closed 1.5 per cent lower follow-ing their 20 per cent gain since the end of August.Wharf Holdings, which ownsmalls in Hong Kong, rose 2.9 per cent on expectations that retail rents wouldremain strong as mainland shoppers continue to flock to stores in Hong Kong.

UBS analysts, in a note to clients, cited the Hong Kong Tourism Board say-ing the first three days of the National Day Golden Week saw a 52 per centsurge in mainland tourist arrivals. -Reuters

WASHINGTON: Hillary Clinton and Cherie Blair at the State Department.-Reuters.

the number grows manifold, particularly, on Thursday. The shrine was fullypacked with people at the time of blast as women and children usually cometo visit the mausoleum on Thursday. The tomb of Abdullah Shah Ghazi islocated at perched on a hilltop overlooking Clifton Beach, Karachi. AbdullahShah Ghazi's tomb attracts a steady stream of devotees who shuffle forward tocaress the silver railing around the burial place and drape it with garlands offlowers. Sindh Minister for Interior, Zulfikar Mirza termed the blasts on shrinea biggest conspiracy against the country.

Talking to a private TV channels the minister said anti-country elements aretrying to destabilize the country through their menace activities.

He strongly condemned the twin suicide bomb blasts at the entrance ofAbdullah Shah Ghazi's shrine in Clifton Karachi.

He said that terrorists have no religion and county, adding they are biggestenemy of human beings. These elements are the killers of innocent people andno one can forgive them, he added. Commenting about security arrangementson shrine, Zulfikar Mirza said the massive security personals were alertedthere. "We had also made all possible security arrangements on the shrine toprevent any menace activity, adding that's the reason that bomber explodedhimself near the shrine."

Sindh minister said all popular shrines of the province were under threatsand still they are. However, he said the government had alerted high securityincluding police and rangers over the shrines.

"We have also been providing security to the religious scholars, those areunder threats," he maintained.

Continued from page 1No #6

employees get their due rights thick and thin, PM told.Meanwhile, Leader of the Opposition in the National Assembly Chaudhry

Nisar Ali Khan said the Sacked Employees (Reinstatement) Bill was passed bythe National Assembly in violation of the understanding reached with theOpposition.

Nisar Ali Khan said that the sacked employees' reinstatement bill would costthe national exchequer Rs 15-to-17 billion on an occasion when a single pennyis of great importance in wake of flood devastation in the country.

Rising a point of order, Chaudhry Nisar said this was a highly contentiousbill which violated Articles 4, 25, 175 and 212 of the constitution and judg-ments of the courts.

Responding to the point of order, the PPP's Syed Khurshid Shah pointed outthat the bill was cleared by the standing committee unanimously and the oppo-sition did not submitted amendments.

Zahid Hamid of the PML-N pointed out that they were not opposed to pro-vision of relief if injustice was done to someone but the opposition has con-ceptual objections to the bill which is violative of the constitutional and fun-damental principles of independence of judiciary. -Agencies

Continued from page 1No #7

August, a four-month high. Federal Bureau of Statistics is due to release inflation data on or after Monday. The cen-tral bank has maintained a tight monetary policy and raised the key interest rate to 13.5 per cent from 13 per cent lastweek, its second consecutive hike, in a bid to curb the country's deepening fiscal deficit and combat rising inflation.

The International Monetary Fund has projected that Pakistan's inflation will accelerate to 13.5 per cent this fiscalyear. Analysts said the main reason for the rise would be an increase in food prices and that inflation is likely to rise fur-ther. "There seems to be little respite in store for proponents of interest rate decline and end-consumers in terms of inflationtaking its foot off the accelerator," said Khalid Iqbal Siddiqui, Director at Invest and Finance Securities Ltd, referring togovernment plans to eliminate energy subsidies. "To add to these, international oil prices seem to have settled in a higher-range of $75-85 per barrel against $70-80 per barrel previously," said Siddiqui. -Reuters

Continued from page 1No #8

It looks that it would be mutual understanding among the cement manufacturers in the low demand period.It is worth mentioning here that total cement dispatches dipped 22.2 per cent at 2 million tonnes versus 2.57 million

tonnes recorded in September 2009. Furthermore, local dispatches stood at 1.38 million tonnes while exports were at0.62 million tonnes, representing fall of 21.1 per cent and 24.4 per cent respectively.

Continued from page 1No #9

to present its proposal to member states and European Parliament in the coming days. The EU will then have to submit a requestfor a World Trade Organization (WTO) waiver authorising the suspension of duties on important imports from Pakistan. -Agencies

Continued from page 1No #10

seminar, Sohail Ahmad said that women are the part and parcel of our society and the government is committed toempowering women in every field of life. "To implement the anti-harassment act passed by the government at work-places we have also set up a committee which would be responsible for implementing the act in letter and spirit", headded. Maliha Husain, Programme Director, Mehergarh said that women in our country are being harassed everywhere.She said that the government has done an excellent job by passing the anti-harassment bill. -APP

Continued from page 1No #11

Khyber-Pakhtunkhwa province," said Wasimuddin. Pakistan's reserves were boosted last-month after the IMF sent$450 million and said that the money would go toward Pakistan's budget to help with additional spending for floodrelief and immediate foreign exchange needs. This was separate from the $11 billion IMF bailout programme, agreed-to in 2008. In May, Pakistan received $1.13 billion, the fifth tranche of the programme.

The status of the release of the sixth tranche is unclear, however. It has been delayed until at least the release of thedamages and assessment report, due in mid October.

Continued from page 1No #12

Waziristan "democratic dividends" and said: "We go in and fight where the army has never fought before inWaziristan. These are all democratic dividends. The government, he said, had got market access in the world and wasable to convert relations with China and other countries into commercial relations.

Meanwhile, President said that political actors visible to everybody and he does not need to inform anybody aboutthem, however, he is looking for their director.

"I have not given any guideline to the government on any legal decision including the NRO. Every institution has itsown policy," President while responding to queries from the representatives of electronic media at the presidentialcamp office at Bilawal House here.

Continued from page 1No #13

Kayani. According to military sources, all Corps Commanders and Principal Staff Officers attended the meeting.The participants of the meeting were briefed at length on the geostrategic situation of the region and the matters relat-

ed to regional situation. Sources told that participants of the meeting were briefed on post Nato, US forces border vio-lations situation, apology offered by US and Nato, report of joint investigation team and matters related to preventionof such incidents in future.-APP

Continued from page 1No #14

the attacks, which killed 166 people. The five Pakistanis wanted by India are Maj Sameer Ali, Maj Iqbal, IlyasKashmiri, Abdul Rehman Hashim and Sajid Majid, Gaur said. Arrest warrants for the five were issued by a New Delhicourt in July following a request by the National Investigation Agency. -Agencies

Continued from page 1No #15

help the country recover flood losses. Bulls were there since the start of the day as market opened the session with11 green points. Then gains kept on increasing due to continued buying by the local and foreign institutional investorsmainly in oils, banks, and cements over higher international oil prices and European Union news. On the other side, anapology by US authorities for Nato transgression too triggered buying activities. "Bulls drew strength from US apol-ogy which eased tension between Nato and Pakistan's Arm Forces", said Ahsan Mehanti, Director Arif HabibInvestments. Thus index crossed triple digit gains and just near the closing bells touched a day-high of 10,200 points(+ive 170 points) and finally ended thereabouts. Investor participation remained impressive throughout the session as148.2 million shares traded during the day, the highest since 8th June this year when 136.2 million shares were traded-- 88.6 million more as compared to a turnover of 59.6 million shares a day earlier. Out of total 394 active issues 244advanced and 125 declined while 25 issues remained unchanged.

Continued from page 5No #16

of furnace oil have decreased by 8.5 per cent to 2.21 million tonnes in 1QFY11 from 2.42 million tonnes recordedin identical period last year due to supply problem to power companies along with temporary closure of some IPPs.

Likewise, High Speed Diesel (HSD) showed a drop of 13.6 per cent with sales of 1.51 million tonnes against 1.75million tonnes in 1QFY10 mainly due to lower agriculture activities.

Similarly, Light Diesel Oil offtake slumped 5 per cent to 16k tonnes against 17k tonnes in the same period last yearmainly due to flood devastation. However, Mogas consumption remained up 17 per cent at 548k tonnes against 468ktonnes in same period last year mainly due to decrease in petrol prices in last quarter and increase in CNG prices.

Continued from page 1No #17

said. He said the current Pakistani economic team is very much conscious of the importance of reforms for solidprogress. In answer to a question about the possibility of discussing a new package for Pakistan, he said it could be dis-cussed anytime if Pakistan wants such a package.

Mazarei praised Islamabad's bringing down inflation down to single digits but noted lately it has crept back. Mazarei,who is meeting Pakistani Finance Minister Dr Abdul Hafeez Sheikh and his team during the IMF-World Bank meet-ings, also said he understands the combination of problems facing Pakistan (in the midst of anti-terror fight), whichhave been compounded by recent floods. "The problems are real but difficulties are an opportunity for building." TheIMF official expressed support for assisting Pakistan with flood recovery and said the Fund will urge further world sup-port for the country. He noted it will be helpful for the economy that Pakistan rationalise the prices of electricity with-out hurting the poor and said last year the country gave $2 in subsidies.

Continued from page 1No #18

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RAWALPINDI: Chief of Army Staff, General Ashfaq Parvez Kayani presiding over the 134th Corps Commanders' Conference held at General Headquarters.-APP

ISLAMABAD: US NavyAdmiral Mike Mullen,Chairman of the Joint Chiefsof Staff, expressed his condo-lences over the deaths andinjuries of Pakistani soldiersin Nato's attacks on thePakistani side, adding thateverything possible would bedone to avoid recurrence ofborder incursion.

According to US embassyspokesman, Admiral Mullenwrote a letter to Chief ofArmy Staff Gen Kayani andcondoled the deaths andinjuries of Pakistani soldiersinvolved in the September 30

border incident.Mullen wrote, "I wanted to

send my most sincere condo-lences for the regrettable lossof your soldiers killed andwounded on 30 Septembernear your border withAfghanistan. The death of oursoldiers in combat is alwaystragic, but under these cir-cumstances, it is even moredifficult to accept.

Furthermore, US apologyhas raised hopes of an endto a week-long blockade ofa vital Nato-supply line,although the alliance saidon Thursday it was not hin-

dering the war inAfghanistan.

A joint Nato-Pakistanireport released the same daysaid gunmen aboard theApaches had likely mistakenwarning shots from the borderguards for an insurgent attackwhen they opened fire.

Pakistan closed the supplyroute through its territory onSept 30 after Nato helicoptersstrayed over the border sever-al times, culminating in theshooting.

"I think the US apology andNato regrets should be morethan enough and I don't

believe that the issue ofreopening of the route willdrag on," said MehmoodShah, former security chief ofthe Pakistani tribal areas bor-dering Afghanistan.

"By closing the route,Pakistanis wanted to convey amessage and I think they(NATO) have learnt the les-son."

Nato has struggled withintermittent breaks in supplylines, and worked hard tobuild up alternative routes, tomake the war effort less vul-nerable, but for the long term,Pakistan is key. -Agencies

Mullen guaranteesrespect for borders

US Chairman Joint Cheifs of Staff writes letter to Kayani

Nato anticipates supply resumption after apology

WASHINGTON: The USsaid that Pakistan and Indiaare capable of solving issuesincluding Kashmir disputethrough bilateral dialogues.

"This is an issue that wehope two sides can addressand resolve, but this is obvi-ously an important bilateralissue between the two govern-ments," state departmentspokesman PJ Crowley toldreporters at his daily newsbriefing.

"This is an issue betweenPakistan and India. It is impor-tant. There have been success-ful discussions betweenPakistan and India on this sub-ject in recent years," he said.

"Some of those very fruitfuldiscussions occurred betweenthe former governments ofIndia and Pakistan," as hereferred to the back channel

talks between New Delhi andIslamabad when the two coun-tries, according to mediareports, were on the verge ofarriving at a negotiated settle-ment which could not takeplace due to the fall of theMusharraf regime.

Asked to comment onMusharraf's statement that hisregime trained militant groupsto fight India in Kashmir, StateDepartment spokesman PhillipCrowley responded with aplain "No" saying it was anissue between New Delhi andIslamabad.

Asked if the statement ofMusharraf, who was Pakistanpresident for ten years, couldbe considered a case of state-sponsored terrorism, Crowleybrushed aside the query, say-ing: "That's a very sweepingkind of question I just can't

address here."Asked how he saw the US

working with Musharraf againas he planned to run for officein 2013, Crowley said: "Well,it's a long time between nowand 2013. We are engageddeeply with the current civil-ian government."

"We're working hard withthis government to address theimmediate aftermath of theflooding and the ongoingsecurity challenge that affectsPakistan and the UnitedStates."

Meanwhile, White Housesaid that the deterioratingsecurity situation in Pakistanor a recent flare-up of tensionsbetween New Delhi andIslamabad would have noimpact on US PresidentBarack Obama's India trip inearly November. -Online

Pakistan, India canbury the hatchet: US

Crowley refuses to comment on Musharraf’s remarks

ISLAMABAD: The Pak ArabRefinery Limited (Parco)earned Rs7.9 billion profit aftertax during the financial year,which ended on June 30, 2010,despite the difficult circum-stances impacting the petrole-um industry, particularly withregard to liquidity.

This was disclosed in the126th meeting of the ParcoBoard of Directors chaired byMinister for Petroleum andNatural Resources SyedNaveed Qamar on Thursday.

Ongoing projects of the com-pany, including the dieselhydro-desulphurisation projectwere also reviewed.

This pioneering project,which is nearing completion,will enable Parco to produce

Euro-II diesel for the first timein the country by reducing thesulphur content in the fuel andmaking the environment clean-er.

The Board thanked theParco team for their efforts inprotecting the mid-countryrefinery and the company'spipeline systems and stationsfrom the impact of the floodand helping in restoring theroad links to the refinery sothat fuel supplies to the nationcould be restarted as soon aspossible.

The minister appreciated thecontribution of Rs40 millionmade by Parco, including one-day salary by its employees, tothe Prime Minister's Floodrelief account. -NNI

Parco PAThits Rs7.9bn

During FY10

ISLAMABAD: Third minis-terial meeting of Friends ofDemocratic Pakistan, (FoDP)being held in Brussels onOctober 15, will discuss earlyrecovery projects for theflood affected areas besidesconsidering reconstructionplan.

This was stated by ForeignOffice spokesman AbdulBasit in weekly press brief-ing here at Foreign Office onThursday.

Giving details about thethird ministerial meeting ofFoDP, the spokesman said themeeting will also discuss therequirements and assess-ments being made by WorldBank and Asian DevelopmentBank in the flood affectedareas for reconstruction proj-ects.

He said third ministerialFoDP will be jointly chairedby Foreign Minister ShahMehmood Qureshi andEuropean Commission VicePresident/ EU HighRepresentative for Foreignand Security PolicyCatherine Ashton.

The spokesman said theFoDP meeting will also dis-cuss the Swat and Malakandprojects and economic stabil-ity situation for Pakistan.

The Ministerial FoDPmeeting will be preceded by

senior officials meeting onOctober 14.

Meanwhile, condemningthe US drone attacks inPakistan, Foreign Office saidPakistan has no agreementwith the US over droneattacks; nor could suchattacks be justified.

The spokesman said thatthe US and the Nato forcesassured that Pakistani borderwould not be violated infuture.

He said that the US hasbeen primed of Pakistan'sreservations over the droneattacks and it is expected thatthe policy in this regardwould be reviewed.

Spokesman further addedthat Pakistan has not yetdecided when to reopenTorkham border crossingNato uses to ship supplies toAfghanistan despite a USapology for a helicopterattack that killed twoPakistani soldiers.

Talking about Dr Aafia hesaid Pakistan would leave nostone unturned to ensurerelease of Dr Aafia and acommittee headed by InteriorMinister Rehman Malik hasbeen set up and all optionsfor the release of Dr Aafiawould be reviewed and astrategy would be devised. -Agencies

FoDP willmoot earlyrehab plan

No pact signed over drone attacks: FO

'No decision yet on restoration of Nato supplies'

ISLAMABAD: AlternativeEnergy Development Board(AEDB) has issued Lettersof Intent (LoI) to LumenEnergia Private Limited andSSJD Group for setting up11-MW and 12-MW biomassenergy power plants inPunjab and Sindh respec-tively.

The both plants would bebased exclusively on agri-cultural waste including cot-ton stalk, rice husk, sugar-cane trash, and wheat chaff,said sources in AEDB hereThursday.

The plants would needabout 90 to 110 thousandstonne of biomass fuel per

year for generating 11-MWand 12-MW.

The total cost proposedfor setting up 11-MW powerplant at Jhang is $14.38 mil-lion and biomass supply andlogistic agreements wouldbe made with rice and sugarfactories located in thevicinity of the proposedsite.

The AEDB is activelyfacilitating public and pri-vate sector organizations forestablishing and promotingbiomass to energy projectsin the country.

The AEDB is developingnational strategy and plansfor the utilization of biomass

to energy resources toachieve targets approved bythe government.

The sources said agricul-tural waste (biomass) is oneof the most abundant indige-nous fuel source in the coun-try and biomass based alter-native energy projects couldplay a vital role in overcom-ing the energy crisis.

It merits mentioning herethat almost all the agrariancountries in the world hadworked on using biomass forpower generation andPakistan can benefit forbeing one of the largestagrarian countries in theworld. -APP

LoI issued for 23MWbiomass power plants

ISLAMABAD: Thai whitesugar premiums held nearthree-month lows on expecta-tions of ample supplies, whilemore than 30,000 tonnes of thesweetener from India arrived inPakistan as floods ravagedcane crops, dealers saidThursday.

Thai white sugar for promptdelivery was offered at premi-ums of between $145 and $165above London's Decembercontract, slightly higher thanlast week's $120 a tonne, butthere were no reports of anydeals. Whites for next year'sdelivery were offered at muchlower premiums.

Thai sugar has been underpressure on the prospects ofexports from India, the world'slargest consumer, as adequatemonsoon rains helped the canecrop bounce back after lastyear's drought.

"We have some forward salesfor next year but they are intiny quantities and roughly at

$45 to $50 premiums free-on-board," said a dealer inSingapore.

Thai premiums rose to an alltime high of $250 in July fornearby shipment as tight sup-ply forced buyers to pay upbefore crushing starts againlater this year in Thailand -- theworld's second-largest exporterafter Brazil.

Indian white sugar has beenoffered at much lower premi-ums to Thai origins, withPakistan the main buyer.

A ship carrying 7,000 tonnesof white sugar from Indiaarrived last week while anothership with 30,000 tonnes wasalso scheduled to due to dockin Karachi last week, industrysources said.

Pakistan last month allowedunlimited imports of raws aftermassive sugarcane crop lossescaused by the country's worstfloods raised fears of a short-fall of 1.2 million tonnes thiscrop season. -Reuters

Indian sweetenercargoes keep

rolling inArmy issues

315,808Watan

Cards so farISLAMABAD: Army hasissued 315,808 Watan Cardsamong the flood affected fami-lies of 19 districts of Punjaband 25 districts of Sindh withthe respective breakup of183,947 and 131,861, an ISPRnews release on Thursday said.

Army has entertained 23,000flood affected people in ArmyRelief Camps in Sindh while 1.5tons of dry rations has been dis-tributed and treated 4,000patients besides provided cookedfood to 18,000 people in Sindh inlast 24 hours. Chinese Army hasestablished two Field Hospitalsat Sehwan, Thatta and treated29,000 patients.

Four MI-17 Chinese helicop-ters are also working round theclock for relief operations inflood affected areas of Sindhwhile 14,220 stranded peopleof flood affected areas havereturned to their homes. -APP

PACto audit

transport inall govt deptsISLAMABAD: The special

meeting of Public Accounts

Committee (PAC) has

announced to audit the trans-

port in all government

departments to stop addition-

al use of transport by minis-

ters and government officials.

A meeting was held under

the aegis of Public Accounts

Committee, presided by com-

mittee Chairman Zahid

Hamid at Parliament House

here Thursday

During the meeting com-

mittee announced to audit

additional transport in all

government departments,

being used by the ministers

and government officials

while federal secretaries of

the concerned departments

would be held responsible for

use of additional transport.

Audit authorities told

Committee that in light of

PAC, the expenditures over

additional use of transport by

ministers and officials in

government departments

would be recovered from sec-

retary of concerned depart-

ment.

Audit officials further told

the Committee that Federal

Minister for Labor and

Manpower appointed an MD

in the Ministry for Labour for

three years on contract base

in 1989 against merit who

embezzled Rs400,000.

The ministry clarified that

Establishment Division

appointed him. Audit offi-

cials told the committee that

Overseas Employment

Corporation set up OEC

Express agency in Karachi in

1981 to provide employment

to Pakistanis overseas and the

in charge of the Travel

agency owes Rs 493,000. -

Online

Reply toIndiandossier,

soon: MalikISLAMABAD: InteriorMinister Rehman Malik reiter-ating that Pakistan would notallow anyone to use its territoryagainst any country, addinggovernment is reviewing theIndian dossier.

He stated that government isreviewing the Indian dossierand would respond to it soon.

Talking to the media personshere Thursday outside theParliament House InteriorMinister said we are reviewingthe new dossier given by Indiaand we would respond, added ifIndia has any intelligenceinformation than it shouldshare it with Pakistan.

Malik further said that hetelephoned his Indian counter-part Chidambaram the otherday and congratulated him onhosting of Common WealthGames and assured his cooper-ation. -Online

Mufti Ameen's killing

Token strikein Karachi

KARACHI: A token strike isbeing observed in Karachi onthe call by Sunni WahdatCouncil to protest the murder ofJamia Binoria's Mufti Ameen.

According to private TVchannels, furious mob hurledstones at cars and blocked theroad after burning tyres in SiteTown; however, heavy contin-gent of police rushed the areaand managed to take the situa-tion under control.

All the arteries leading toJamia Binoria have been barredfor traffic to avert any unto-ward incident.

Meanwhile, two persons havebeen shot dead in separate inci-dents of targeted killing in themetropolitan. -Online

Pak-USstrategic

talks startfrom 22nd

WASHINGTON: The thirdround of Pak-America strategicdialogue is going to start from22 October in Washington.

According to media reports,diplomatic sources told thatthird round of Pak-US strategicdialogue is going to start from22 October in which issuesrelated to power, agriculture,education and security wouldbe discussed.

Foreign Minister ShahMehmood Qureshi would leadthe Pakistani delegation whileUS Secretary of State HillaryClinton would lead US delega-tion.

Diplomatic sources furthertold that Chief of PakistanArmy General Kayani is alsoexpected to attend the strategicdialogue.

Philip Crowley US StateDepartment Spokesman statedin a briefing that security issuewould be center point of thediscussion. -Online

Thai white sugar steady