International

LHC accepts Kazmi's bail before arrest plea See on Page 12

Some rail-lines partly bombed in Sindh See on Page 12

APTTA takes effect today See on Page 12

*Crude Oil (brent)$/bbl 101.45

*Crude Oil (WTI)$/bbl 86.44

*Cotton $/lb 192.90

*Gold $/ozs 1,365.90

*Silver $/ozs 30.17

Malaysian Palm $ 1,299

GOLD (NCEL) PKR 37,488

KHI Cotton 40Kg PKR 12,325

Yearly(Jul, 2010 up to 10-Feb-2011)

Monthly(Feb, 2010 up to-10-Feb-2011)

Daily (10-Feb-2011)

Total Portfolio Invest (5 Jan-2011)

196.90

-3.85

-0.15

3093

-1.08

-1.16

-2.74

1.04

0.80

1.90

1.24

SCRA(U.S $ in million)

Portfolio Investment

FIPI (11-Feb-2011)

Local Companies (11-Feb-2011)

Banks / DFI (11-Feb-2011)

Mutual Funds (11-Feb-2011)

NBFC (11-Feb-2011)

Local Investors (11-Feb-2011)

Other Organization (11-Feb-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (29-Jan-11)

Inflation CPI% (Jul 10-Jan 11)

Exports (Jul 10-Dec 10)

Imports (Jul 10-Dec 10)

Trade Balance (Jul 10-Dec 10)

Current A/C (Jul 10- Dec 10)

Remittances (Jul 10 - Jan 11)

Foreign Invest (Jul 10-Dec 10)

Revenue (Jul 10 Dec 10)

Foreign Debt (Sep 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Dec 10)

LSM Growth (Nov 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.31bn

14.55%

$13.23bn

$22.55bn

$(9.32)bn

$26mn

$6.12bn

$1.05bn

Rs 765bn

$58.41bn

Rs 5497.4bn

$323.6mn

-4.69%

4.10%

$1,051

175.14mn

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

17.48

2.00

1.70

10.92

PKR/Shares

110.32

148.33

42.43

36.06

37.05

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)

09-Feb-2011

09-Feb-2011

09-Feb-2011

29-Nov-2010

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

10-Feb-2011

13.53%

13.69%

13.86%

14.00%

13.36%

13.63%

13.77%

14.13%

14.25%

14.21%

14.25%

14.26%

14.61%

14.78%

14.97%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.20 85.20

Canadian $ 84.65 85.65

Danish Krone 15.00 15.30

Euro 114.80 116.30

Hong Kong $ 10.70 11.20

Japanese Yen 1.006 1.031

Saudi Riyal 22.63 22.85

Singapore $ 65.60 66.60

Swedish Korona 13.10 13.50

Swiss Franc 87.00 88.00

U.A.E Dirham 23.13 23.40

UK Pound 136.00 137.50

US $ 85.10 85.45

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 84.83 85.03

Canadian $ 85.25 85.46

Danish Krone 15.46 15.49

Euro 115.25 115.52

Hong Kong $ 10.89 10.92

Japanese Yen 1.019 1.021

Saudi Riyal 22.62 22.68

Singapore $ 66.26 66.42

Swedish Korona 13.11 13.14

Swiss Franc 87.58 87.79

U.A.E Dirham 23.10 23.16

UK Pound 136.27 136.59

US $ 84.86 85.04

Inter-Bank Currency Rates

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WASHINGTON: UnitedStates has allegedly threat-ened to sever ties if the USofficial involved in killingtwo Pakistani nationals inLahore is not released.

Citing Pakistani officialsABC News reportedPresident Obama's nationalsecurity advisor summonedPakistan's ambassador to theWhite House to deliver athreat from the president:Release Raymond Davis orface the consequences.

National Security AdvisorTom Donilon toldAmbassador Haqqani,according to two Pakistaniofficials involved in negotia-tions about Davis, that theUS will kick Haqqani out ofthe US, close US consulatesin Pakistan, and cancel anupcoming visit of PresidentZardari to Washington, ifDavis, a US embassyemployee, is not released byFriday.

The outlines of the threatwere confirmed to ABC Newsby a senior US official, whowas not authorised to speakon the record.

A White House spokesper-son, Tommy Vietor, declinedcomment.

Ambassador Haqqanidenied, via Twitter, that any"US official, incl(uding) theNSA, has conveyed any per-

sonal threats 2 (to) me or spo-ken of extreme measures."

Davis is in Pakistan on adiplomatic passport, and theUS has demanded his imme-diate release on the groundsof diplomatic immunity.

The stand-off betweenWashington and Islamabadhas brought the already tenserelationship between twoallies to a new low.-Agencies

Davis-sick UScrosses the line

Ambassador Haqqani warned of expulsion

Threatens to cancel Zardari visit, shut Pak consulate

ISLAMABAD: Pakistancould face the risk of a ratingsdowngrade if it fails to quicklyimplement reforms to address agrowing fiscal deficit, Moody'sInvestors Service said onFriday.

Moody's currently has a B3rating for Pakistan.

"A key to a (negative) changein the rating is if the fiscaldeficit is more than what weexpect," said Aninda Mitra,Moody's sovereign analyst forPakistan, who expects the fis-cal deficit to be 6-7 per cent forthe year ending June 30.

He also said inflation whichis rising at a faster than expect-ed rate, brought on byincreased government borrow-ing, could lead to a downgrade.

Pakistan agreed with theInternational Monetary Fund(IMF) that it would keep thecountry's fiscal deficit at 4.7per cent for the fiscal year end-ing June 30.

Analysts agree this figure is

likely to be overshot. Someforecast the fiscal deficit to bearound 8 percent if fiscalreforms are not implemented,higher than the central bank'sprediction of between 6-6.5 percent.

Pakistan has a B- rating fromStandard & Poor's RatingServices, just one notch abovea CCC rating that would implyan impending default. But itdoes not expect to change thecountry's rating.

Overshooting the IMF's tar-gets should not surprise any-one, given last year's largedeficit and the prospects of aneven larger one this year, saidS&P analyst Agost Benard.

Pakistan's current accountrecorded a surplus of $26 mil-lion in the first six months end-ing Dec 31, thanks to risingremittances from overseasPakistanis and steady exports.

Still, a prolonged delay in theimplementation of a reformed

See # 8 Page 11

Moody’s showsscissors to Pak

Fiscal deficit to widely overrun target: S&P

Says tax reforms need urgent impositionConsensus on economic plans a must

Staff Reporter

K A R A C H I : M a n a g i n gDirector PIA CaptainMuhammad Aijaz Haroon hasresigned after successful talksbetween Joint ActionCommittee of PIA employeesand Interior Minister RehmanMalik and Defence MinisterChaudhry Ahmad Mukhtar atKarachi Airport on Fridaynight.

Announcing the agree-ment, Rehman Malik saidthat after successful talkswith Joint Action Committeeof PIA employees, theemployees have ended theirfourth day strike.AhmedMakhtar said that the maindemand of the Joint Action

Committee of PIA employ-ees regarding the resignationof PIA MD Aijaz Haroon hasbeen fulfilled. He said thesacked employees have alsobeen restored.

Regarding cancellation ofMoU with Turkey, he said hedid not see any memorandumand it can not be implementedwithout the approval of theCabinet.

Earlier, A clash between pro-testers and supporters of PIAadministration erupted here atKarachi airport when the lattercame and began attacking andtorturing the demonstrators.

According to last minutereports Captain NadeemYousafzai is likely to be namedas new MD PIA.

Strikers cut PIAMD career short

Employees on cloud nine after Capt Aijaz quits

ISLAMABAD: President AsifAli Zardari on Friday adminis-tered oath to 22-member newFederal Cabinet here in linewith the PPP decision to cutdown its size as part of the aus-terity drive.

The new cabinet includes 18old and four new ministers. Italso includes one minister ofstate, Hina Rabbani Khar.

The ministers, who took oathat Aiwan-i-Sadr, includedMian Changez Jamali, DrFirdous Ashiq Awan, SyedKhurshid Shah, Sardar AlhajMuhammad Umar Goreja,Hina Rabbani Khar, Mir IsrarUllah Zehri, Arbab AlamgirKhan, Mian Raza Rabbani,Syed Naveed Qamar, RehmanMalik, Amin Fahim, Shahbaz

Bhatti, Engineer ShaukatUllah, Samina Khalid Ghurki,Abdul Hafeez Sheikh, HajiKhuda Baksh Rajar, MianManzoor Ahmad Wattoo,

See # 10 Page 11

Fresh ‘lean’ Cabinetlooks lot like former

Qureshi, Kaira, Ashraf, Gondal out

Zardari administers oath to new 22-member Cabinet

SBP lets 3rdparty fundtransfers

thru PRISMKARACHI: The State Bank ofPakistan has decided to allowthird-party fund transfersthrough Pakistan Real TimeInter-Bank SettlementMechanism (PRISM) withimmediate effect in order toincrease the coverage of elec-tronic payment systems.

According to a Circular (PSDCircular No. 2) issued Fridayall banks participating inPRISM are allowed to sendindividual 3rd Party FundTransfers (using MT 103)through PRISM System foramounts of Rs10 million andabove. "This, limit, however,will not be applicable toNational Clearing Company ofPakistan Ltd (NCCPL) requestfor Fund Transfers in PRISMSystem," the Circular added.

It is expected that extendingsuch a facility through PRISMwould not only enhance effi-cient and timely fund transfersby banks, but would also resultin cost reduction for such trans-fers for the customers of banks,

See # 7 Page 11

ISLAMABAD: The NationalAssembly StandingCommittee on Textile here onFriday recommended that theexport of yarn/cotton maybeallowed after fulfilling therequirement of domesticIndustry.

The Committee also directedthe Secretary M/O TextileIndustry to submit proposalson the availability ofcotton/yarn for the domestictextile industry in future, saida statement issued by theNational Assembly Secretariat

here.The meeting of the Standing

Committee on Textile Industryheld here at the parliamenthouse, under the chairmanshipof Haji Muhammad AkramAnsari, MNA, discussed theyarn price hike in the countryand its present status.

The committee was alsogiven briefing on the work-ing/achievements of theTextile University, Faisalabadand the Garment CityFaisalabad.

See # 12 Page 11

Yarn, cottonexport likely

Secy textiles directed to submit proposals

ISLAMABAD: President Asif Ali Zardari administering oath to

new federal ministers here at Aiwan-e-Sadr. -APP

Haqqani, US put up denialWASHINGTON: Ambassador to the United States (US)Husain Haqqani and the US Embassy on Friday denied an ABCNews report about US National Security Advisor Tom Donilonthreatening to boot him if Raymond Davis was not released.

In response to the reports, Haqqani, through his Twitteraccount, denied the news saying "No US official, incl(uding)the NSA, has conveyed any personal threats 2 (to) me or spokenof extreme measures."

Earlier, citing two Pakistani officials, ABC News had said lateThursday that Donilon made the threat after summoningHaqqani to the White House on Monday.

According to ABC News, Donilon also warned US consulatesin Pakistan may be closed and an See # 6 Page 11

Davis on2-weekjudicialremand

LAHORE: Raymond Davis,US involved in double murder,has been sent to Jail on 14-dayjudicial remand.

Davis was arrested onJanuary 27 after he shot andkilled two motorcyclists inLahore, claiming it was in self-defence as the men were tryingto rob him.

On Friday, Davis was pre-sented before a local court inModel Town amidst strict secu-rity measures.

More than 200 police weredeployed outside the court-room. The proceedings of thecourt were closed to media.

Defence lawyer HassamQadir Advocate filed two pleason behalf of Raymond in thecourt that the trial be held incamera and diplomatic immu-nity should be granted to him

The court asked the govern-ment to clarify whether diplo-matic immunity applied in thecase of Davis.

Davis faces potential murdercharges. He is to be held in ajail in the Kot Lakhpat area ofLahore, said Abdus Samad, agovernment prosecutor in thecase who briefed reporters afterthe session.

“The court has, meanwhile,sent Davis to jail on a judicialremand of 14 days”, AbdulSamad said.

Davis' next court appearanceis set for Feb 25.

Samad said that Judge AnikAnwar also agreed to get gov-ernment response on a defencerequest that any trial in the casebe held out of public view.

Meanwhile CCPO Aslam See # 11 Page 11

CAIRO: Egypt's HosniMubarak resigned as presidentand handed control to the mili-tary on Friday after 29 years inpower, bowing to a historic 18-day wave of pro-democracydemonstrations by hundreds ofthousands. "The people oustedthe president," chanted a crowdof tens of thousands outside hispresidential palace in Cairo.

Several hundred thousandprotesters massed in Cairo'scentral Tahrir Square explodedinto joy, waving Egyptian flags,and car horns and celebratoryshots in the air were heardaround the city of 18 million in

joy after Vice President OmarSuleiman made the announce-

ment on national TV just after See # 13 Page 11

Egyptians riseas Mubarak falls

Gaza celebrates Mubarak resignation

Military takes control for now

Firdous Ashiq Awan,

Information and Broadcasting

Karachi, Saturday, February 12, 2011, Rabi-ul-Awwal 8, Price Rs12 Pages 12

Global monetaryreform, a must: IMF

See on Page 12

An exercisein futility: 'N' ISLAMABAD: PML-NSpokesperson Siddiq-ulFarooq has said that the newCabinet is not according to thenation’s expectations as onceagain the ministers accused ofcorruption have been reap-pointed.

Talking to private TV chan-nel after the new federal cabi-net was put in place on Friday,Siddiq-ul Farooq said thatmajority of ministers of thenew cabinet are those whowere blamed for their involve-ment in corruption and some

See # 9 Page 11

Captain Nadeem Yousafzai likely new MD

2 Saturday, February 12, 2011

Staff Correspondent

ISLAMABAD: The FederalBoard of Revenue has beensent a letter by Agility askingto clarify FBR's intentions onmoving forward or not, atleast with negotiations to con-tinue PACCS. It is learnedfrom sources that Agilityseems getting tired of waitingfor the Pakistan Governmentto pick pace and start takingits national interest mattersseriously.

The Agility has also men-tioned timeline in the letterwhich is end of February forFBR and if nothing is donewith respect to the agreementtill then, then the trade canwell imagine the chaos that is

looming ahead for the country. The FBR has not confirmed

agreement with Agility overPACCS even after clear rec-ommendation by FederalMinister for Finance Dr.Abdul Hafeez Sheikh.

Recently, Hafeez Sheikhhas asked FBR to sit withAgility to resolve the issuewithout further delays. It islearned that FBR had sched-uled several meetings withAgility officials but delaysmeetings unnecessarily. It isnot understandable why FBRhas adopted delaying tacticswhen the system is generat-ing revenues and deliveringobjectives phenomenally,said one of the successfulPACCS User.

PACCS:clarification

sought from FBR

KARACHI: ThePakistan AdvertisersSociety (PAS) hasannounced advertisingawards 2011. This wasannounced by Chairmanof PAS, Aly Mustansir,while talking to newsmenon Thursday.

The Chairman of theAwards Committee, FuadChundrigar talking on theoccasion said that theobjective of the awards isto acknowledge and hon-our creativity, ideas and

strategy that lead to strongbusiness results, encour-age competition within theindustry and provide theimpetus to thrive.

The awards would beopen to all and that therewould be some 25 cate-gories. The entry processwould be simple andMarch 5 would be the lastdate for submission of theentries. The advertise-ments from January toDecember 2010 would beeligible for consideration

for the PAS Awards 2011.The awards would be

conferred towards the endof April this year Or inearly May.

It was pointed out that inthe year 2010 an amountof Rs.28 billion was spenton advertising in the coun-try. An increase of 20 per-cent on this count isexpected in the year 2011.Anwar Rammal would beheading the judging com-mittee for the PAS Awards2011.-APP

PAS announcesAdvertisingAwards 2011

TFD Report

PESHAWAR: NewHorizon, a leading providerof IT Infrastructure Services,signed an agreement withRehman Medical Institute forthe establishment of completestate of the art LAN andVoice Infrastructure. Thesolution comprises completeLAN infrastructure includingactive and passive compo-nents and VoIP enabled voicecommunication solution. TheInstitute is expanding itscapacity for health care andmedical education servicesand therefore requires

enhancing the network infra-structure and voice commu-nication system.

The proposed LAN solu-tion, provided with anapproach of Self-DefendingNetwork, covers the installa-tion of high-tech intercon-nected networking equipmentbased on global standards,optimizes performance andproductivity. The solutionalso ensures the capability togain the functionalities ofNetwork Switching at coreand edge level, contentswitching, network securityto protect illegal traffic andprevent DoS attacks.

New Horizon toestablish LAN,

Voice setup at RMI

Staff Reporter

KARACHI: The Board ofDirectors of HBL AssetManagement Limited, theManagement Company ofHBL Income Fund andHBL Money Market Fund,in its meeting held onFriday announced secondinterim dividend in the formof bonus Units for 'A' and'B' Classes of Units andCash dividend for 'C' ClassUnits for the year endingJune 30, 2011.

The Board has approvedsecond interim dividend atRs.3.0 per Unit in the formof Bonus Units for 'A' & 'B'

Classes of Units and Cashdividend of Rs.3.0 per Unitfor Class 'C' Units for theyear ending June 30, 2011.This is in addition to thefirst interim dividend/bonusdeclared at Rs.2.25 per Unitin October 2010.

The Board has approvedsecond interim dividend atRs.2.90 per Unit in the formof Bonus Units for 'A' & 'B'Classes of Units and Cashdividend of Rs.2.90 per unitfor Class 'C' Units for theyear ending June 30, 2011.This is in addition to thefirst interim dividend/bonusdeclared at Rs.2.25 per Unitin October 2010.

HBL-IF, MMFdeclare second

interim dividend

TFD Report

KARACHI: JCR-VISCredit Rating Company Ltd.(JCR-VIS) has assignedManagement Quality Ratingof 'AM2-' (AM-Two Minus)with a stable outlook to IGIFunds Limited. This creditrating is indicative of thesound governance structureinstituted at the managementcompany and is an affirma-tion of the confidence thatinvestors have placed in IGIFunds Limited.

IGI Funds Limited is agroup company of the IGIFinancial Services andPackages Limited. TheCompany is registered as aNon-Banking FinanceCompany (NBFC) licensedby the Securities andExchange Commission of

Pakistan (SECP) to provideAsset Management andInvestment AdvisoryServices in conformity withthe NBFC Rules, 2003 andNBFC & NE Regulations2008.

The company has fiveopen ended funds undermanagement namely IGIIncome Fund, IGI StockFund, IGI Islamic IncomeFund, IGI Money MarketFund and IGI AggressiveIncome Fund. The IGIIncome Fund has mostlyremained insulated from thecredit failures in the marketand returns have remainedconsistent with YTD returnof 11.35% (Jul10-Dec10).Return of IGI Stock Fund isclose to the peer group aver-age with YTD return of19.96% (Jul10-Dec10).

IGI Funds awardedAM2 minus rating

TFD Report

KARACHI: The exportsfrom Karachi ExportProcessing Zone show arecord growth of 45 percent despite the economicrecession. It indicates thatExport Processing ZonesAuthority (EPZA) is doingwell to fulfill its mandateto enhance the exports. Inthe economic growth ofthe country, the perform-ance of EPZA has been a

substantial contribution.According to statistics

released by EPZA, theexports from KEPZ duringthe month of January,2011 stood by 39per centhigher at over 2.518 bil-lion as compared toRs.1.817 billion in corre-sponding month ofJanuary, 2010. The exportperformance in the monthunder review was thehighest recorded in anymonth of current year.

Further, the exportsfrom July, 2010 toJanuary, 2011 have shownstride of an average of 45percent over the corre-sponding period of lastyear. Export ProcessingZones Authority (EPZA)pointed out that during therecent global recessionwhich resulted in theshrinkage of developedeconomies, EPZA main-tained rising trends in theexports.

KEPZ registers45pc growth

in exports

Staff Reporter

KARACHI: The first inter-national conference on Peace,Security and Governancewas organized by the Centre

for Peace, Security andDevelopment (DadabhoyInstitute of HigherEducation) in collaborationwith Carnegie Endowmentfor International Peace at alocal hotel.

According to organisershere, former AmbassadorShahid Amin underlined theneed to handle US-Pak rela-tion with care and with will-ingness to remove whateverhas arrived in the form ofmisunderstandings and notallowing them to becomemajor issues.

Masuma Hasan, chairper-son Pakistan Institute ofInternational Affairs (PIIA)Karachi stressed on the roleof women in maintaining

peace. She quoted the UNResolution 1325 whichensures special need forwomen to be taken intoaccount at all levels whenev-er there are negotiations for

peace taking place.Goerge Perkovich, director

Nuclear Policy Programme,Carnegie Endowment forInternational Peace said thatUS can help in promotingeducational reforms inPakistan .

Syed Mustafa Kamal, for-mer City Nazim Karachi saidthe democracy is about theempowerment of local gov-ernment system as this is theonly way to get people's con-tribution toward their citiesand then the country.

"We cannot fight and winthe war against terrorism withthe help of forces but by serv-ing the people through aproper strategy", he noted.

Former federal minister

Javed Jabbar said thatPakistan was a predominant-ly Muslim country than a the-oretical state. Despite of allour flaws, we still have thecapacity to produce balance

and global level excellence.Former federal minister Dr.

Farooq Sattar and SindhEducation Minister PirMazhar-ul-Haq in their briefremarks appreciatedAbdullah Dadabhoy forestablishing the DadabhoyInstitute of Higher Education.

In his welcome address,Abdullah Dadabhoy,Chairman Board ofGovernors DIHE talkedabout the Centre for Peace,Security and DevelopmentDIHE and theme of theconference

Former Navel chiefShahid Karimullah, ArifHabib, Dr.S.m Taha, TariqWaseem Ghazi also spokeon the occasion.

DIHE moot onpeace, security

TV PROGRAMMES

SATURDAY

Time Programmes7:00 News8:00 News9:05 Best of SubahSavere Maya Kay Sath11:10 Tafteesh (Rpt)12:00 News13:10 Newsbeat (Rpt)14:10 Awam Ki Awaz(Rpt)15:00 News16:10 Faisla Aap Ka(Rpt)17:30 Samaa Metro18:00 News18:30 Aap Ki Baat19:00 News19:05 Mutasareen19:30 Taxi News20:05 Tafteesh21:00 News22:03 Faisla Aap Ka23:00 News23:03 Awam Ki Awaz

Ufonelaunches‘Lady’s

Package’Staff Reporter

KARACHI: Ufone, oneof the leading telecomcompanies in the countryhas stepped forward onceagain to give its customersa reason to smile.

Since inception Ufonehas focused on catering tothe masses and ensuringthat every Pakistani haseasy access to cellularservices. The launch ofUfone's "Lady's package"is yet another feather inthe cap of Ufone.

All over Pakistan,women now have a pack-age which speaks theirlanguage, a packagewhich has been speciallytailored keeping in mindthe needs of the presentday woman. For just Rs. 2per hour, women can nowmake endless long callsbetween 10 am and 5 pmto their loved ones onUfone and PTCL net-works without fearingabout the bill, alongsidethey can make callsthrough the rest of the dayto any number any net-work in Pakistan for justRs.1.25 per minute.

ChocolateFestivaltodayTFD Report

KARACHI: Chocolate isthe world's most popularflavor. It makes peoplefeel loved and wanted.History reveals thatChocolate has been hon-ored and admired for aslong as it's been around.This is also the reasonwhy lovers all over theworld, prefer exchangingcocoa based presents onValentine's Day.

WeldonMoms conductsa Chocolate Festival everyyear in February andencouraged by the fabu-lous response over the lastfew years, they are back inaction for the third con-secutive year. The festivalwill be held today at 4 pmat Marriott Hotel.

A big part of anyChocolate Experience isthe visual appeal. It can bemelted, cooled and craftedinto shapes. Therefore,this year WeldonMomshas teamed up with themost renowned art schoolin town - The Indus ValleySchool of Art andArchitecture (IVSAA)whose students haveworked hard to come upwhich a SpectacularDisplay of Chocolate Artincluding ChocolatePaintings, ChocolateSculpture, and a Cocoa-Collage!

Apart from being goodrecreation for the enter-tainment starvedKarachiites, this will be aOne-Dish ChocolateParty, and a huge network-ing platform for the ever-growing number of regis-tered Weldon Moms mem-ber, their favorite lady-friends, plus babies.

Celebrity Chefs andpopular cooking expertswill be invited to judgethese entries and loads ofprizes will be dispensed tothe most magnificent pre-sentations.

Child labourerto representPak at Scout

JamboreeKARACHI: A fourteen-year old- child labourerOsama Hafiz will repre-sent Pakistan in the 23rdWorld Scouts Jamboreeto be held in Swedenfrom July 27 to August 7this year. Osama is one ofthe 120 children compris-ing street kids and childvendors who activelyparticipated in the ongo-ing "Ticket to Life" pro-gramme of Sindh BoyScouts Association, initi-ated in September lastyear.

Coordinator, SindhBoys Scouts AssociationAkhtar Mir told APP onFriday that the organisersof World ScoutsJamboree have invitedfive such needy kids fromPakistan.

"It is for the first timethat the internationaljamboree organisers haveinvited young scoutsunder the category of"needy kids," he said.

The initiative he saidcompliments the Ticketto Life Programme intro-duced in Asia PacificRegion countries includ-ing Pakistan with themotive to streamlinestreet children and childlabour towards healthyand dignified existence.-APP

PESHAWAR: Syed Ali Nawaz Gilani, SecretaryGeneral, Pakistan-China Friendship Association andPresident Radio China Listeners Club showing the

love and attachment of school students to WangQainting Bureau Chief, Pakistan China Radio

international during her visit to Frontier ModelSchool and College, Peshawar after special event ofinteraction with students to promote Pakistan-China

Friendship and strengthening the relations in allwalks of life.-Staff Photo

ISLAMABAD: A group of Industrialists from Islamabad congratulating Raza Khanon his appointment as Chairman Coordination, FPCCI, Capital Office.-Staff Photo

KARACHI: Launch of Moringa Miracle brand bySand Bloom (Pvt) Ltd ,a Pak European Company.Pooya Dubash - Marketing, Jude Allen - GeneralManager, Danesh Dubash - Managing Director,

Naseer Bhatti - CEO, Adnan Khan - Regional SalesManager, and Adil Khan - Head of Finance are seen

in the photograph. Staff photo

CHARSADDA: As part of flood relief efforts, LGElectronics has pledged to continue the support to

flood victims by carrying out various relief activitiesin the affected areas and offer necessary assistance. Aspart of this initiative, LG Electronics Pakistan recentlyprovided warm blankets to the flood affected people

so that they can bear with harsh winter season.Picture shows LG representatives distributing blan-

kets to the people.-Staff Photo

ISLAMABAD: A Norwegian business delegation called onPrime Minister Syed Yousuf Raza Gilani at PM House.-Online

MUMBAI: The Indian rupeerecovered from a near two-week low on Friday trackingsharp gains in domestic sharesin late trade and boosted bysome dollar inflows from alarge pharmaceutical company.

The partially convertible rupeeclosed at 45.68/69 per dollar,slightly stronger than Thursday'sclose of 45.725/735. The rupeetraded in a band of 45.6450 to45.7825 during the day. On theweek, the rupee shed 0.2 percent.

"Alternate bids and offerswere seen in the market today,but the biddish movement con-tinued throughout the day. Isuspect some government-related buying was there," saidVikas Chittiprolu, a senior for-eign exchange dealer withAndhra Bank.

"Some corporates sold dol-lars at highs. I think the biddishmomentum should continuenext week as well. The rupeecan possibly touch 46 nextweek," he added.

Traders said a large pharma-ceutical likely sold dollars inthe market at around 45.75 lev-

els, helping the rupee recoverfrom its lows.

Foreign funds, however, arestill net sellers of $1.7 billionso far this year, after buying arecord $29.3 billion last year.

One-month offshore non-deliverable forwards contractsPNDF were at 45.97, weakerthan the onshore spot rate.

In the currency futures market,the most traded near-month dol-lar-rupee contracts on theNational Stock Exchange, MCX-SX and the United StockExchange closed at 45.7875,45.7850 and 45.7925 respective-ly with the total traded volume at$6.2 billion. -Reuters

Indian rupee snaps 2-dayfall on share gains

3Saturday, February 12, 2011

Currencies Rate

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 11/02/2011

A USD GBP CAD EUR JPY

O/N 0.23400 0.55625 0.96000 0.87250 SN 0.10563

1WK 0.25250 0.57563 1.00000 0.89000 0.11500

2WK 0.25850 0.58313 1.03500 0.88500 0.11688

1MO 0.26575 0.61188 1.08000 0.87375 0.13000

2MO 0.28900 0.68125 1.14583 0.92875 0.15563

3MO 0.31300 0.80313 1.20833 1.04625 0.18875

4MO 0.35300 0.88688 1.27083 1.11875 0.24313

5MO 0.41000 0.99125 1.33917 1.20125 0.30000

6MO 0.46520 1.10813 1.40167 1.29375 0.34625

7MO 0.51850 1.18850 1.48583 1.35313 0.39500

8MO 0.57125 1.27413 1.56667 1.40688 0.44313

9MO 0.62875 1.35725 1.63833 1.47188 0.48875

10MO 0.68375 1.43625 1.72667 1.52688 0.51438

11MO 0.73500 1.50438 1.81000 1.58063 0.54125

12MO 0.79650 1.57313 1.90000 1.64313 0.56875

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

USA. 85.20 85.00 84.82

U.K. 136.83 136.51 136.20

EURO 115.72 115.45 115.17

CANADA 85.61 85.41 85.18

SWITZERLAND 87.94 87.74 87.51

AUSTRALIA 85.18 84.98 84.76

SWEDEN 13.16 13.13 13.10

JAPAN 1.02 1.02 1.02

NORWAY 14.58 14.55 14.51

SINGAPORE 66.53 66.38 66.20

DENMARK 15.52 15.48 15.44

SAUDI ARABIA 22.72 22.66 22.60

HONG KONG 10.94 10.91 10.88

CHINA 12.93 12.90 12.87

KUWAIT 304.16 303.44 302.64

MALAYSIA 27.98 27.92 27.85

NEW ZEALAND 64.79 64.64 64.47

QATAR 23.40 23.34 23.28

U.A.E. 23.20 23.14 23.08

KR WON 0.08 0.08 0.08

THAILAND 2.76 2.76 2.75

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

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

ABLN 12.75 13.25 12.80 13.30 12.85 13.35 13.35 13.60 13.60 13.85 13.70 14.20 13.80 14.30 14.00 14.50

JSBL 12.90 13.40 12.95 13.45 13.00 13.50 13.35 13.60 13.60 13.85 13.75 14.25 13.85 14.35 13.95 14.45

ASPK 12.90 13.40 12.90 13.40 12.90 13.40 13.40 13.65 13.50 13.75 13.60 14.10 13.75 14.25 13.80 14.30

CIPK 12.85 13.35 12.85 13.35 12.85 13.35 13.40 13.65 13.60 13.85 13.70 14.20 13.85 14.35 14.10 14.60

DBPK 12.80 13.30 12.85 13.35 12.85 13.35 13.30 13.55 13.40 13.65 13.50 14.00 13.60 14.10 13.80 14.30

FBPK 12.85 13.35 12.85 13.35 12.85 13.35 13.45 13.70 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.85 13.35 12.85 13.35 12.85 13.35 13.40 13.65 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

HKBP 12.90 13.40 12.90 13.40 12.85 13.35 13.35 13.60 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

NIPK 12.80 13.30 12.90 13.40 13.10 13.60 13.30 13.55 13.40 13.65 13.50 14.00 13.60 14.10 13.70 14.20

HMBP 12.80 13.30 12.90 13.40 12.85 13.35 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

SAMB 12.95 13.45 12.85 13.35 12.90 13.40 13.35 13.60 13.55 13.80 13.65 14.15 13.75 14.25 13.85 14.35

MCBK 12.70 13.20 12.70 13.20 12.80 13.30 13.35 13.60 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

NBPK 12.90 13.40 12.80 13.30 12.80 13.30 13.40 13.65 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

SCPK 12.70 13.20 12.70 13.20 12.70 13.20 13.30 13.55 13.45 13.70 13.60 14.10 13.70 14.20 13.80 14.30

UBPL 12.85 13.35 12.85 13.35 12.90 13.40 13.40 13.65 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.84 13.34 12.86 13.36 12.86 13.36 13.37 13.62 13.51 13.76 13.63 14.13 13.76 14.26 13.85 14.35

London Inter Bank Offered Rates (LIBOR)

Karachi Inter Bank Offered Rates (KIBOR)

Name Bid Ask High Low

EUR-USD 1.3543 1.3544 1.3617 1.3508

USD-CHF 0.9725 0.9729 0.9747 0.9680

GBP-USD 1.6000 1.6002 1.6111 1.5965

USD-CAD 0.9919 0.9925 0.9984 0.9922

AUD-USD 1.0006 1.0010 1.0044 0.9963

EUR-JPY 112.8700 112.9100 113.4200 112.7900

EUR-GBP 0.8465 0.8468 0.8468 0.8426

EUR-CHF 1.3171 1.3175 1.3186 1.3127

GBP-JPY 133.3700 133.4400 134.2100 133.3500

CHF-JPY 85.6800 85.7300 86.1700 85.6900

Gold 1364.0400 1364.7800 1368.2000 1358.2500

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)11/02/2011

As per 22.00 PST

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.90 13.00 12.85 12.85 12.95 13.05 12.93

8-15dys 13.00 13.00 12.85 12.95 13.00 12.95 12.96

16-30dys 13.05 13.00 12.95 13.02 13.00 12.95 13.00

31-60dys 13.10 13.10 13.09 13.08 13.10 13.10 13.10

61-90dys 13.44 13.40 13.43 13.40 13.25 13.42 13.39

91-120dys 13.50 13.47 13.50 13.50 13.45 13.50 13.49

121-180dys 13.60 13.53 13.56 13.57 13.50 13.55 13.55

181-270dys 13.65 13.63 13.64 13.66 13.60 13.65 13.64

271-365dys 13.75 13.75 13.77 13.75 13.70 13.75 13.75

2-- years 14.05 14.10 14.08 14.00 14.05 14.00 14.05

3-- years 14.15 14.20 14.24 14.22 14.22 14.22 14.21

4-- years 14.18 14.25 14.25 14.25 14.22 14.20 14.23

5-- years 14.22 14.25 14.27 14.26 14.23 14.23 14.24

6-- years 14.23 14.30 14.29 14.28 14.30 14.27 14.28

7-- years 14.24 14.30 14.31 14.30 14.35 14.33 14.31

8-- years 14.24 14.25 14.25 14.30 14.23 14.26 14.26

9-- years 14.25 14.15 14.17 14.20 14.20 14.21 14.20

10--years 14.25 14.27 14.25 14.26 14.25 14.26 14.26

15--years 14.60 14.55 14.60 14.65 14.55 14.70 14.61

20--years 14.80 14.70 14.70 14.90 14.75 14.85 14.78

30--years 14.90 14.85 14.95 15.10 15.00 15.00 14.97

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for February 11, 2011

Source Events Actual Forecast Previous

JPY Bank Holiday

EUR German Final CPI m/m -0.4% -0.5% -0.5%

EUR German WPI m/m 1.2% 0.9% 1.8%

EUR French Prelim Non-Farm Payrolls q/q 0.2% 0.2% 0.1%

GBP PPI Input m/m 1.7% 1.3% 3.9%

GBP PPI Output m/m 1.0% 0.4% 0.4%

CAD Trade Balance 3.0B -0.4B -0.1B

USD Trade Balance -40.6B -40.4B -38.3B

USD Prelim UoM Consumer Sentiment 75.1 74.8 74.2

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Dec 04 2007 Jul 10 2007 4.50%

Bank of England Dec 06 2007 Jul 05 2007 5.75%

Bank of Japan Nov 13 2007 Feb 21 2007 0.50%

European Central Bank Dec 06 2007 Jun 06 2007 4%

Federal Reserve Dec 11 2007 Oct 31 2007 4.50%

Swiss National Bank Dec 13 2007 Sep 13 2007 2.75%

The Reserve Bank of Australia Dec 05 2007 Nov 06 2007 6.75%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, February 11,2011 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:

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

1 week -0.50 0.18 0.89 0.66 0.62 0.61 0.35 -0.55

1 month 0.45 0.74 0.82 0.96 0.75 0.47 0.36 -0.83

3 months 0.17 0.57 0.57 0.84 0.86 0.69 -0.14 -0.20

6 months 0.68 0.55 0.92 0.87 0.82 0.71 -0.49 -0.64

1 year 0.72 0.07 0.67 0.42 0.72 0.60 -0.55 -0.64

2 years 0.20 0.53 0.55 0.71 0.80 0.25 -0.09 -0.40

Currencies CorrelationEUR/USD

NEW YORK: The US dollar rose againstthe euro on Friday, shaking off a brief dipafter Egyptian President Hosni Mubarakstepped down as investors have widelypriced in his exit and technical factorsweighed on the single currency.

The euro, which hit a three-week lowagainst the dollar on Friday, has tried tobreak the $1.35 level twice before andfailed, shifting momentum to the down-side.

In addition, the recent spate of US eco-nomic data has been supportive of thegreenback and most strategists are lookingfor more outperformance on the dollar.

"It was a knee jerk reaction and it didn'tlast because there are bigger things driv-ing the euro right now," said Brian Dolan,chief currency strategist, at Forex.com inBedminster,

New Jersey."Egypt is now seen as a regional politi-

cal drama and the market seems to thinkthe risk of a fun-d a m e n t a l i s ttakeover there isoverblown. Butthe concernsmost heavilyweighing on theeuro -- the ongo-ing debt crisis --are still there, and for now, the downsideis still in play," he said.

In midday New York trading, the eurofell 0.4 per cent to trade at $1.3540, afterearlier hitting $1.3502 -- its lowest sinceJan. 21. Key support for the euro lies at$1.3500, a point that traders cited as anoptions barrier, with reports of strong bids

ahead of that level.Technical analysts said if the pair closes

below the euro's 100-day moving average

at $1.3542, it would be the first time sinceJan. 17. As a result, the single euro-zonecurrency could see further downside.

The ICE Futures' dollar index, whichmeasures the greenback's performanceagainst a basket of currencies, was up 0.3per cent at 78.522.

Traders said the European Central

Bank stepped in to buy Portuguesebonds after yields on the country's debthit euro-era highs. The latest spike inyields has sparked fresh concerns aboutfunding costs in peripheral euro-zoneeconomies.

The dollar, meanwhile, touched its high-est level in a month at 83.68 yen, boostedby the rising trend in US Treasury yields.It was last up 0.3 per cent at 83.51 yen.Some analysts said the spike in yieldsreflects a US economy on a more footing.

The dollar also made headway againstthe Swiss franc, rising to a one-monthhigh at 0.9750 on demand from a Swissbank. The franc was further underminedon weaker-than-expected Swiss inflationdata released Thursday.

The dollar was last at 0.9762, up 0.7 percent. -Reuters

Dollar gains broadly vs euro, yen;Mubarak impact brief

SHANGHAI: The yuan endeddown against the dollar onFriday after the People's Bankof China set a sharply weakermid-point in an apparentexpression of displeasure torenewed US pressure for theChinese currency to appreciate.

But traders said Beijing'sgesture was unlikely to devel-op into a full-blown currencybattle with the United Statesand that the trend for the yuanto appreciate was expected tocontinue at least in the nearterm.

Spot yuan closed at 6.5919against the dollar, down from6.5865 at Thursday's close. Ithas now risen 3.56 per centsince its depegging from thedollar in June 2010.

Before trading began, thePBOC fixed its daily mid-pointat 6.5952 to the dollar, downfrom Thursday's record high of6.5849.

The fixing, from which theyuan can trade up or down amaximum 0.5 per cent in agiven day, is the tool that the

central bank uses to express thegovernment's intention on thecurrency.

A bipartisan group of 101 USlawmakers in the House ofRepresentatives launched anew bid on Thursday to passlegislation aimed at pressuringChina to let the yuan appreci-ate. The same proposalscleared the House last year butdied in the Senate. If approvedthis time, they would clear theway for the CommerceDepartment to treat currenciesdeemed to be undervalued asan illegal subsidy under UStrade law.

On top of the move, the USTreasury also said on Thursdayit would remain focused oncorrecting what it called thesubstantially undervaluedyuan. Benchmark one-yeardollar/yuan non-deliverableforwards were bid at 6.4490late on Friday, up from 6.4320at Thursday's close. Theirimplied yuan appreciation in ayear's time fell to 2.27 per centfrom 2.54 per cent. -Reuters

Yuan ends lower onweaker mid-point

SYDNEY/WELLINGTON: The Australiandollar fell below parity on Friday after the coun-try's central bank said interest rates were likely tobe on hold until late in the year, while the NewZealand dollar followed to a three-week low.

The Aussie dollar shed half a cent to a week-and-a-half low of $0.9980 after Reserve Bank ofAustralia (RBA) Governor Glenn Stevens said thecentral bank was ahead of the game with past hikesand policy could be on hold for an extended period.

That led investors to push the timing of the nextmove and pull back expectations for how highrates might ultimately rise. Interbank bill futuresfrom May onward all rallied and now only imply a50:50 chance of a rise to 5 per cent by August.

Markets are discounting just 34 basis pointsworth of tightening over the next 12 months,down from 42 bps a day before.

The Australian dollar shed two cents this weekwith support seen at $0.9963 and resistance

around $1.0088 ahead of $1.0152. TD's Beacher expects the Aussie to hover

around parity. "The appeal of the Aussie is still that the next

interest rate move is up even though it'sdelayed," she said.

The central bank left its cash rate unchanged at4.75 per cent earlier this month, having previous-ly hiked by 175 basis points since October 2009.The New Zealand dollar also hit a three-weektrough at $0.7596, to be down one per cent on theweek. Support is seen from about $0.7569, whiletopside targets will form near $0.77.

The kiwi was hit in part by yet more dismaleconomic news with New Zealand house salessliding to a record low in January according tothe Real Estate Institute of NZ.

The Aussie slipped slightly on the kiwi afterthe RBA comments to about NZ$1.3121, down0.2 per cent this week. -Reuters

Aussie dlr falls below parityas RBA sounds relaxed

SINGAPORE: The SouthKorean won led overalldeclines in emerging Asiancurrencies on Friday as thecentral bank surprised marketsby keeping interest rates onhold and as foreign investorscontinued to sell stocks in theregion.

Asian currencies had enjoyednearly a week of appreciationon relief that regional policy-makers were taking steps tostem rising prices, withIndonesian central bank raisinginterest rates last Friday.

But investors started doubt-ing their determination, espe-cially as central banks of SouthKorea and Philippines heldtheir policy rates unchanged.

Asian currencies may alsocontinue to suffer as investorsrotate funds out of emergingmarkets and into developed

countries, analysts said.Dollar/won rose for a third

consecutive session as foreigninvestors continued to dumpSeoul shares and on dollardemand linked to the sales.

Local interbank players alsobuilt up long dollar/won posi-tions. Foreign investors sold anet 615.7 billion won ($545.6million) worth of stocks on themain exchange after reportingtheir biggest net stock sales inthree months on Thursday.

Dollar/peso reversed initiallosses despite the centralbank's hawkish stance on infla-tion. On Thursday, the BSPsharply lifted its inflation fore-cast for the second straightreview, causing analysts toexpect a raise as soon as nextmonth, although it kept its pol-icy rate steady.

"Their comments were rather

hawkish," says Pin Ru Tan,emerging markets forex andrates strategist at the RoyalBank of Scotland in Singapore.

But she doubted how muchmore the pair would fall, citingforeign investors' continuouslocal stock sales and risks ofrising inflation.

"It (the BSP) must show thatit is not falling behind thecurve and that is not the sensewe get yet."

Dollar/baht edged up as for-eign investors kept buying thepair amid a continued sell-offof local stocks.

A Bangkok-based dealersaid markets expectUSD/THB to trade between30.65 and 31.05 next week.Foreign investors have beennet sellers in the local stockmarket in the first four daysof this week. -Reuters

Asian currencies

Won down on rate hold,foreign stock sales

LONDON: Sterling slippedversus a broadly stronger dol-lar on Friday, after buying driv-en by speculation of a UKinterest rate rise stalled in theabsence of clarity from the cen-tral bank on when a hike mightoccur.

Traders said selling by aEuropean bank helped to pushthe pound to its weakest

against the dollar since lateJanuary, while investorsbrushed off data showing ajump in wholesale inflation,which added to the case forhigher interest rates.

The Bank of England keptrates on hold at 0.5 per cent onThursday. While the decisionwas widely expected, itprompted selling in sterling bysome investors who had bet ona small possibility of a hike,which would increase thereturns on UK assets for someinvestors.

With the BoE not due torelease details of Thursday'spolicy debate and voting until

later this month, analysts saidthe market continues to lackclarity on how close the bankreally is to raising rates, asinflation pressures mount.

This uncertainty helped toput the pound on the back footon Friday, said John Hydeskov,currency strategist at DanskeBank, adding that the marketwas also keenly awaiting the

BoE's inflation report nextweek to gauge its outlook onprices.

Markets now fully price in a25 basis point rate rise by mid-year.

Sterling fell 0.8 per cent onthe day to $1.5963. Technicalanalysts said its break below$1.60 opened the door to a fallto around $1.5920, the 38.2 percent retracement of itsDecember-February rally.

The euro edged up 0.2 percent to a session high of 84.76pence. Traders said the singlecurrency was boosted bydemand from a French corpo-rate name. -Reuters

Stg falls; investorsseek clarity on rates

Swiss franchits 1-monthlow vs dollarZURICH: The dollar rose to aone-month high versus theSwiss franc on Friday, buoyedby solid US economic datawhile the franc stayed pres-sured by weaker-than-expectedSwiss inflation data.

The dollar solidly outper-formed other currencies theprevious day after a fall in USjobless claims, with moregains foreseen against theeuro on concerns that Europeis not adequately tackling itsdebt crisis.

The franc traded 0.1 per centlower against the dollar com-pared to the New York close,trading at 0.9705 per dollar by0825 after hitting 0.9715 francsearlier, its lowest since Jan. 13.

The franc ticked up againstthe euro 1.3152 per euro. TheSwissie has slipped steadily sofar this year from a recordhigh hit against the euro at theend of 2010.

"The euro/Swiss franc is tornbetween extremely loose SNBpolicy and EU risk considera-tions," said UBS economistReto Huenerwadel.

Swiss consumer prices rose 0.3per cent from a year ago inJanuary but fell 0.4 per cent com-pared with the previous month,suggesting the Swiss NationalBank will stick to its ultra-loosemonetary policy. -Reuters

Greenback rises to 1-month high vs yen, Swiss franc

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

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

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

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

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

accuracy and completeness cannot be guaranteed. The Financial Daily

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

use of these reports and recommendations.

Limitingexport of

cotton, yarnReportedly, Standing Committee of National

Assembly on Textile has recommended allow-ing export of cotton and yarn after fulfillingthe requirement of domestic Industry. TheCommittee has also directed Secretary,Ministry of Textile to submit report regardingavailability of cotton and yarn for the domes-tic textile industry.

The Secretary Textile while briefing theCommittee has stated that this year, Chineseand Pakistani cotton crops were damaged bythe floods. The government is monitoring thesituation, especially the export of cotton andyarn which is less than the previous year.

According to Ministry of Food andAgriculture approximately 0.596 millionhectares area was inundated by the recentfloods out of total area of 3.2 million hectares.The Ministry has further estimated that theloss in cotton production will be around 2.6million bales and production for the seasonwill be around 11.4 million bales.

It is necessary to warn that government thatany imprudent decision could cause seriousproblems for the largest foreign exchangeearning sector of the economy. It may be saidthat during first half of the current financialyear Pakistan has achieved significantincrease in export of textiles and clothing.However, it is a fact that this increase hascome mainly because of hike in cotton pricesaround the globe, including Pakistan. Thecountry still faces a significant shortfall in cot-ton availability, the biggest evidence beingPakistan importing substantial quantity of cot-ton from India.

The closure of textile units particularly inand around Faisalabad due to load shedding ofelectricity and gas may give an impressionthat cotton and yarn supply exceed demandand therefore it would be prudent to export thesurplus and earn some foreign exchange. It isnecessary to warn the government that themyopic view could have serious implicationsfor the textiles and clothing industry ofPakistan.

It is also necessary to say that governmentshould ensure uninterrupted supply of gas andelectricity at affordable cost to industrial unitsrather than saying that since the supply of cot-ton and yarn exceed demand export of thesebasic raw materials should be allowed. Thisirrational decision would have adverse impacton Pakistan's economy resulting in loss ofjobs, lower GDP and exports and above allallow Pakistan's traditional competitors tograb its share in the global markets.

All along we have been suggested curbingexport of raw cotton, yarn and even un-processed cloth to achieve higher value addi-tion. We understand certain quarters don't likesuch curbs but the bitter pill has to be swal-lowed in the largest interest of Pakistan. Curbson export of cotton and yarn may hurt theinterest of a few but will certainly help thecountry in maximizing return on each kilo-gram of cotton produced in the country.

4Saturday, February 12, 2011

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

111-C, Jami Commercial Street 11, Phase VII, DHA KarachiTelephone: 92-21-35311893-6 Fax: 92-21-35388428

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

Lahore office

24- Peshawar Block, Fortress Stadium, Lahore

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

Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 180

A H Raja

Recent incident of an Americannational Raymond AllenDavis involved in cold blood-

ed murder of two Pakistanis inLahore has given rise to manysearching questions. The situationhas become all the more shady andmysterious since his name and iden-tity are fake and so was the car platenumber in which he was travelingon the day of occurrence. He wascarrying a prohibited bore pistol andprohibited bullets with which heshot the two motor cyclists. He wascallous in using disproportionateforce. He kept firing to ensure thedeath of Faizan and Faheem. Thiskind of brazen firing is plausibleonly when the opponents are alsofiring.

The backup vehicle from LahoreUS Consulate came rushing on thedistress call given by Davis. In itsmad rush to reach the scene in ajiffy, the SUV came the wrong wayon a one-way road, drove acrossroad divider and reached the scenewithin 15 minutes but in hastecrushed to death a motorcyclistUbaidur Rahman. By that time,Davis after filming the two deadbodies soaked in blood with his dig-ital camera tried to escape but due totraffic rush and police vigilance hewas apprehended. The driver of sec-ond vehicle along with four personsfrom the consulate managed to slipaway and till this day identity of fivepersons have yet not been ascer-tained. The US Consulate hasrefused to hand over the accused andthe SUV. The US undue interferenceis heightening tension. Davis inter-rogation may reveal some hiddenfacts about US covert war inPakistan.

36-year old Davis is beingdescribed by Washington as a diplo-mat whereas he is not. Pakistan isbeing pressed to release him imme-diately on account of diplomaticimmunity he enjoys, whereas hedoesn't enjoy immunity. The US ear-lier stance of showing Davis as amember of US Consulate in Lahore

was modified and it now insists thathe is a staff member of US Embassyin Islamabad. This change of stancehas been necessitated to provide theaccused greater degree of diplomat-ic immunity from criminal jurisdic-tion under Vienna Convention 1961.Our foreign office has yet to clearthe mist of confusion about his realstatus. Even his real name is notknown since the US has created con-fusion by stating that the accused isnot Raymond Davis. It has howevernot intimated his real name so farwhich means he is an imposter.

Presidency, federal and provincialgovernments are taking coverbehind the Lahore High Court(LHC) where Davis case is pendingto avert American mounting pres-sure. The LHC alone cannot domuch without the government clari-fying certain basic facts about theaccused status. The LHC has how-ever taken the initiative to blockhandover of the accused to his coun-try before completion and decisionof the court and has also directed thegovernment to place him on exitcontrol list.

In case the Foreign Office caves inunder pressure and declares him as aUS Embassy member, the US willthen be in a stronger position todemand his immediate extradition.It may extend an assurance thatDavis will be tried in the US court.If it is proven that Davis is a con-sulate member, in that case ViennaConvention 1963 allows host coun-try to try him in its own court.

The government is being pulled indiverse directions. On one side is theever increasing US pressure to sethim free immediately; on other sideis the mounting public pressure notto release him. The situation hasbecome more complicated in thewake of suicide of 18 year oldShumaila, wife of murderedFaheem. Her dying words were thatshe wanted justice for her slain hus-band. The couple had been marriedsix months ago.

Davis is certainly a member ofinfamous Blackwater or a CIA agentwho had been frequently visiting

Pakistan illegally under a fakename, address and designation. Ithas now been ascertained that heruns a small private security compa-ny in Las Vegas in Colorado. Assuch he has nothing to do withdiplomatic circle. Considering theobjectionable weapon, specializedammunition and equipment that wasrecovered from his vehicle whichhad a fake number plate and the pre-cision with which he shot and killedthe two moving motorcyclists frominside his moving car is a clear indi-cation that he is a well trainedmarksman and adept in terrorism.One deceased had four bullet holesin his body and the other had three.Davis is also indirectly responsiblefor the death of Ubaid and Shumaila.

Items found in his car includedmasks, illegal 9mm glock pistol,make-up kit to change facial appear-ance, GPS tracker, satellite phone,telescope, five magazines, 75 bulletsof prohibited bore, two cutters, twocell phones, ATM cards, first aid kit,PIA tickets, maps, all meant forespionage purposes. His digitalcamera had photos of several areashe snapped in Sargodha, Multan andLahore. He was reportedly in chargeof these three cities and was taskedto carryout espionage and acts ofterror within his area of responsibil-ity. His camera showed a video filmas well.

Intriguing thing is his choice ofphotos which included photos ofsensitive military installations,bridges, Ack Ack gun positions nearbridges and bunkers facing Indianborder. These are certainly of nointerest to USA since it already is inpossession of vivid details of topog-raphy and installations capturedthrough satellites. Afghanistan isalso least interested in such detailsbut India is certainly keen to acquireinformation of military significance.This factor deepens the suspicionthat Davis may be working for CIAand RAW to earn money from both.

His plea of self defence if taken onface value doesn't hold water sinceon this very plea the Taliban inAfghanistan are fighting the occupy-

ing forces. They had picked up armsin self defence after they werehounded, persecuted and killed. Assuch, they should also not be dubbedas terrorists. Comparing the twoexamples, Davis is a much biggerterrorist since he was not fired uponand he emptied his magazine on thebacks of the two victims. It was nota firefight but a one-sided attack tokill.

It is now quite clear that the mainaccused is a non-diplomat; henceVienna Convention 1961 becomesinvalid for a consulate staff member.Since domestic law takes prece-dence over international law, 1972Act overrides 1963 ViennaConvention. 1977 anti-terrorist actis also applicable on Davis whohimself has confessed that he is aconsultant.

Relentless pressure is being exert-ed on Pakistan by Hillary Clinton,US Ambassador Cameron Munterand other officials to release Davischarged with double murder of twoinnocent Pakistanis. Their tone isgetting shriller and threatening.Zardari's coming state visit toWashington is in jeopardy; so isrelease of Close Support Fund andfresh installment under Kerry LugarBill. Davis is the only topic underdiscussion between the officials ofUSA and Pakistan. All other issueshave been relegated to the backseat.Hillary Clinton and CameronMunter did not chew their words insaying that if Davis is not releasedpromptly, it would have repercus-sions on Pak-US relations.

Apparently there is little chance ofdisruption of relations unless thecase is mishandled and in our eager-ness to placate the US we bend ourrules and let the double murderer goaway scot-free without a trial. Whilethe US may or may not get placated,the public will certainly not take itquietly. Already feeling the rippleeffect of uprisings in North Africaand fed up of wrongdoings of therulers, this callous act may igniteanother long march in Pakistan andthis time the caravan may not stop atGujranwala.

Sowing Thorns

Karachi, the economic hubof the country, has seen wors-ening law and order situation,especially at the start of thisyear. Already the city hasseen in recent years enoughtragedy to warrant the cease-less sound of mourning. Nota day goes by without a tar-geted killing taking place andin the first 16 days of Januaryas many as 90 citizens,including a TV reporter, losttheir lives in violence perpe-trated by those who allegedlyare members of mafia pro-tected by political parties.Interior Minister RehmanMalik who dashed to the citypointed towards a third forceresponsible for the targetkillings to destabilize thecity. The Minister for obviousreasons did not name thethird force yet it is no secretthat it is the neighboringIndia which is systematicallydestabilizing Pakistanthrough acts of terrorism, notonly in Karachi but in FATA

and Balochistan as well. Calls have been made for

peace in Karachi. Calls havealso been made to call outthe army and start an opera-tion there but what is mosturgently needed is to find outa political settlement to bringlasting peace to our largestcity. If it is a war betweenvarious ethnic groups, then itmust be realized that nopolitical party or ethnicitycan win this battle, even if aparticular party or communi-ty is temporarily coweddown, the problem will notend. The Mohajirs, Pakhtuns,Sindhis and Baloch cannotwish each other away.Analysts believe that theonly solution is to include apolitical settlement, besidesa serious overhaul of gover-nance mechanism. Thepolice force has to becleansed of politically moti-vated recruitments. Unlessthe scourge of ethnic or sec-tional loyalties is wiped, the

state structure will remainnonviable.

There are certain motivesbehind repeated occurrenceof targeted killings, whichneed to be thoroughly exam-ined and remedial measurestaken to ensure lasting peace.This would only be possibleif all the stakeholders extenda helping hand to the govern-ment and law enforcementagencies. The political par-ties which wield influence inKarachi need to accept thatthey must do everything pos-sible to achieve this. Merecommitments made at talkscan achieve little. Thepledges need to be backed upby genuine commitment tostop the reign of death.Karachi must be saved byforging a solution to itsmulti-faceted problems. Thiscan happen only if the politi-cal forces unite in a quest toremove the guns from thehands of their activists.

F Z Khan, Rawalpindi

Operation

in Karachi is

not the answer'Obama has kicked smok-

ing habit.' The news thoughappears a lighter and sim-ple one but it was repeated-ly covered by mediaaround the world. Itenlightens that one in fiveadults in US, about 46 mil-lion people, still smoke.Three out of four smokerswho try to kick the habit ofsmoking relapse within sixmonths so, Obama hasfinally done what millionsof fellow Americans arestill struggling to achieve.

The news illustrates thathe did this for his friend,wife and especially chil-dren. How optimistic itsounds to give up some-thing which has moredrawbacks, which canharm more and which onlydestroy. This particulargesture brought a glimpsein my mind that how won-derful it would be, if hecould change his policieswhich are having moredrawbacks and which arecoming up with no

progress, the policieswhich are creating moreharm and destruction forthe countries and forhuman beings. What if onecan also kick some viciousthings in a same way, whatif one can kick the policiesof drone attacks, vast mili-tary operations and double-games!

Alas to this dim and emo-tional glimpse that one isgoing to take the things in away as drone attacks, mili-tary operations, and viola-tion of ones country laws,brings nothing but killingsand destruction. It onlyhalts the peace process andruins the relations betweenstates. Peace cannot beattained by bombs but per-haps the addiction ofremained powerful andforceful is many timesstrong enough in order totransform the mind framesin a way beneficial tomasses.

Maimuna Ashraf,Rawalpindi

Mr Obama,stop choking,like smoking

Different parables are used toenhance the outreach of language.Sometimes these end up into beingcounterproductive and elusive. Waris politics by other means is under-standable, but what if politics inwar and a non ending whirlpool ofsomething which is neither war norpolitics. Same like demeanor is dis-played by a political leadershipwhich is in exile, yet has animmense influence upon its follow-ers. MQM is becoming an extremeleftist party; actually wittily it wason extreme lift in early eighties,then gradually it moved towards the

sensibility of centre. Since last sixto seven years, it has again startedits flouncy towards old tradedroads. More of being a politicalparty, it is being transformed into acult, an ethno-political entity. Theleader of MQM is becoming thelarger than life demagogic idol forhis followers.

The recent aspersions which hemade about a coming revolution, therole of judiciary and the non calloutattitude of generals is nothing morethan political hearsay. Revolutionsare brought by mere rhetoric ofchange or blaming federalism alone

for all things. Take the example ofFrench revolution. It was a classstruggle without a leadership; theMarists Revolution was also a classstruggle for equalizing the proletari-at. The recent Iranian revolution wasalso a class struggle although withreligious desperations. Most of thetime revolutions are initially leader-less, but usually hijacked by oppor-tunists.

Altaf Husain's desire to bring arevolution is a little too far-fetched.Since last few years he is trying tobuild upon different popular themes,most of the times his themes are so

divergent that these end up withoutmaking any difference on generalpublic. The MQM followers howev-er take their things very sensuallyand manifest total surrender of willin absolute terms. Why and how thelevel of allegiance is maintained.Before moving further it has to beanswered. Political parties have lay-ers of leadership, but MQM does nothave anything beyond the veneer. Itsleader is layered people who unwraphis layered intricacies in the publicto either confuse the issue or made ittoo implicated.

Fahd F Khan, Jhelum

Politics by other means

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

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

Sales (July 10 to Nov 10) 32,092

Production (Nov 10) 7,087

Sales (Nov 10) 6,813

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

Sales (July 10 to Nov 10) 20,375

Production (Nov 10) 3,974

Sales (Nov 10) 3,753

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

Sales (July 10 to Nov 10) 6,247

Production (Nov 10) 1,145

Sales (Nov 10) 1,075

DEWAN FAROOQ MOTORSProduction (July 10 to Nov 10) 186

Sales (July 10 to Nov 10) 70

Production (Nov 10) 0

Sales (Nov 10) 0

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

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

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

Spread (October 10) 7.49%

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

MS (Nov 10) 186

Kerosene (Jul 10 to Nov 10) 66

Kerosene (Nov 10) 12

JP (Jul 10 to Nov 10) 589

JP (Nov 10) 124

HSD (Jul 10 to Nov 10) 2,792

HSD (Nov 10) 612

LDO (Jul 10 to Nov 10)) 26

LDO (Nov 10) 4

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

Fuel Oil (Nov 10) 572

Others (Jul 10 to Nov 10) 3

Others (Nov 10) 1

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

MS (1 Nov 10) 44.53

MS % Chg 1.39%

Kerosene (1 Dec 10) 52.04

Kerosene (1 Nov 10) 51.25

Kerosene % Chg 1.54%

JP-1 (1 Dec 10) 52.27

JP-1 (1 Nov 10) 51.48

JP-1 % Chg 1.53%

HSD (1 Dec 10) 55.20

HSD (1 Nov 10) 54.24

HSD % Chg 1.77%

LDO (1 Dec 10) 50.52

LDO (1 Nov 10) 49.51

LDO % Chg 2.04%

Fuel Oil (1 Dec 10) 43,019

Fuel Oil (1 Nov 10) 42,046

Sector Updates

Symbol Close Vol (mn)LOTPTA 15.93 11.04 NPL 16.79 5.77 FFBL 40.85 5.68 NCL 25.45 5.12 ANL 10.32 4.69

Symbol Close ChangeUPFL 1,340.32 63.81

SIEM 1,095.90 26.01

FZTM 419.00 18.09

IDYM 300.00 7.86

ILTM 127.61 6.07

Symbol Close ChangeULEVER 4,145.50 -195.03NESTLE 3,351.10 -59.05RMPL 2,873.23 -17.07APL 368.79 -11.5LAKST 240.01 -10.5

Plus 102Minus 246Unchanged 21

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Saturday, February 12, 2011 5

Opening 12,187.47

Closing 11,943.34

Change -244.13

% Change -2.00

Turnover (mn) 111.76

Opening 3,654.11

Closing 3,565.28

Change -88.83

% Change -2.43

Turnover (mn) 3.94

Opening 2,992.26

Closing 2,931.08

Change -61.18

% Change -2.04

Turnover (mn) 0.04

Singapore posts biggestweekly loss in 9 months

South East Asian stocks

European shares end higheras Egypt undergoes big change

ANNOUNCEMENTS

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

IGI Insurance Yearly 20%D 35%B 836.56 11.64

Allied Bank Ltd.(Consolidated)Yearly 20%(F)D 10%B 8283.82 10.59

Allied Bank Ltd. Yearly - 8225.33 10.52

PICIC Inv.Fund Half Yearly 7.5%(i)D 534.54 0.92

PICIC Growth Fund Half Yearly 12.5%(i)D 1017.83 1.67

PICIC Energy Fund Half Yearly 10%(i)D 264.39 1.21

Nishat Power Ltd. Half Yearly - 1210.93 3.42

IGI Inv.Bank Half Yearly - 23.19 0.11

Cherat Cement Half Yearly - 11.27 0.12

Sigma Leasing Half Yearly - 13.68 0.46

US stocks late-morning

Wall St gainsas Mubarak

goes outNEW YORK: US stocks roseon Friday as investors wel-comed news that EgyptianPresident Hosni Mubarakresigned, easing concerns thathave been weighing on themarket for weeks.

As Mubarak stepped down,Egypt's vice president named amilitary council to run thecountry after 18 days of massprotests, state television said.

Market Vectors Egypt IndexETF rallied on the news, up 6.3per cent to $18.93.

"The markets are clearly cel-ebrating the end of Mubarak. Ithink that is a speculative thingto do it may work, and you mayfind out that it is way too soonto celebrate the crisis is over,"said David Kotok, chief invest-ment officer at CumberlandAdvisors in Sarasota, Florida.

Domestically, the Obamaadministration declared thepublic-private housing financemodel in place for the past fourdecades was dead but pledgedto continue backing existingobligations of Fannie Mae andFreddie Mac.

Shares of mortgage insurersrose, with PMI Group up 6.8per cent to $3.47 and RadianGroup 13 per cent higher at$8.00.

The Dow Jones industrialaverage was up 31.79 points, or0.26 per cent, at 12,261.08. TheStandard & Poor's 500 Indexwas up 5.25 points, or 0.40 percent, at 1,327.12. The NasdaqComposite Index was up 8.87points, or 0.32 per cent, at2,799.32.

On the S&P 500, the energysector was the weakest perform-ing after oil prices declined alongwith worries of possible oil pro-duction disruption in the MiddleEast. "One thing that hasweighed on investor sentiment isthat the price of oil would go upin the case of political turmoil,and Mubarak's leaving reducesthat possibility," said GaryThayer, chief macro strategist atWells Fargo in St. Louis,Missouri Reuters

HONG KONG/SHANGHAI:Hong Kong shares eked outgains on Friday but postedtheir worst weekly decline innine months as investors tookprofits in Greater China mar-kets that have outperformedthe region so far this year. Thebenchmark Hang Seng Indexclosed up 0.5 per cent on theday but lost 4.5 per cent on theweek. The index closed at22,829 points, slipping below atrendline support, currentlyaround 23,163, on the chartsthat had held since May lastyear, raising the risk of a retestof the December 2010 lowaround 22,400.The ShanghaiComposite Index closed 0.3per cent higher, supported by arally in the property sector, fora 1 percent gain on the holiday-shortened week.

Mainland markets have out-performed those in Hong Kongthis month, taking the valua-tion premium at which ChineseA-shares trade over their HongKong-listed peers to the high-est since May 2010, with someanalysts predicting mainlandmarkets to continue to outper-form this year.

The property sub-index rose1.7 per cent and was up on theweek after a tepid performancesince mid-January as news offurther policy tightening inChina, in part to cool the redhot real estate market, weighedon the sector.

A report in an official news-

paper which said house priceshad continued to rise inJanuary bolstered sentiment.

"The property sector has nowpriced in the negative news ofproperty tax, so any positivenews may boost it. Moreover,this sector's valuation is stilllow," said Wen Lijun, analystat Nanjing Securities.

Vanke, the country largestdeveloper and the most activeissue on the Shenzhen market,rose one per cent, while ChinaEnterprise Co., the biggestgainer on the Shanghai market,jumped to its 10 per cent dailylimit.

Economic data for Januarydue next week is expected toshow that lending surged andinflation accelerated, prompt-ing concerns among someinvestors that the central bankcould take more steps to con-trol money supply and tightenpolicy, after raising interestrates this week.HK ON THE BACKFOOTHong Kong's market has

taken a hit as most NorthAsian markets succumbed toprofit-taking, with SouthKorea's KOSPI dropping 4.6per cent on the week andTaiwan's TAIEX down nearly6 per cent. With emergingmarket "dominoes" continu-ing to fall, clients are becom-ing increasingly nervous andare buying downside protec-tion through put options, saida Hong Kong-based trader at

a large US investment bank."The S&P remains vulnerableat 1320, it needs to correct toeven think about buying,"said the trader.

In Hong Kong, shares ofHSBC, which have supportedthe broader market through theweek, fell 0.7 per cent, limitinggains for the broader marketeven as other large caps recov-ered from the week's losses.Tencent Holdings Ltd jumped5.3 per cent on healthy volumeand resumed its upward trendthat has seen shares of China'sdominant internet gamingcompany rise 17 per cent thisyear, easily outpacing the HangSeng's 0.9 per cent decline.

Hong Kong Exchanges &Clearing ended 0.7 per centhigher after trading in the redfor most of the day as short-sellers, who were very activein the counter on Thursday,covered some positions. HKExshares had slumped nearly 5per cent on over 7 times theiraverage 30-day volume in theprevious session with over 10percent of the stock's turnoveron the short side.

HKEx, the world's biggeststock exchange operator bymarket value, has been in thenews this week as Westernexchanges scramble to mergein an attempt to preserve mar-ket share as alternative venuesand shrinking margins fromcash equity trading threatentheir business models. Reuters

Shanghai edges higher

HK shares post worstweek in nine months

Nawaz Ali

KARACHI: Bearish activitieswere observed at the KarachiStock Exchange on Friday whichended 2 per cent down below thepsychological level of 12,000points as investors offloadedtheir positions on concerns overPak-US relations and likelydowngrading of ratings byMoody's.

The benchmark KSE-100index lost 244 points to close at11,943 points, KSE-30 index fellby 246 points or 2.09 per cent toclose at 11,535 points and KSEall-share index decreased by 163points or 1.93 per cent to close at8,296 points.

"Local investors panicked assoon as the rumour aboutremoval of Pakistani envoy fromWashington was aired by themedia though US Embassy clar-ified later", said Samar Iqbal,equity dealer at ToplineSecurities.

But news regarding a likelyrating downgrade by Moody'srating agency added fuel to thefire, he added.

Trading activities started on anegative note as market was wit-nessing closure on negative notefor the last three sessions butbounced back and stayed in thepositive zone mostly during thefirst trading session.

However, strong selling pres-sure appeared with the beginningof the second session on therumors that the US has threat-ened Pakistani ambassador tosnap diplomatic ties on demandto release Raymond Davis and

news that Moody's may down-graded country's ratings ifPakistan fails to address fiscaldeficit. Therefore heavy bearishactivities were observed duringthe second session where nearthe closing bells touched anintra-day low of 11,938 points (-ve 249 points) and finally closednear that level.

Pakistan could face the risk ofa ratings downgrade if it fails toquickly implement reforms toaddress the growing fiscaldeficit, Moody's InvestorsService said on Friday. Pakistancurrently enjoys B3 rating byMoody's.

Allied Bank announced its cor-porate earnings for the CY10posting profit after tax of Rs8.28billion translating into an EPS ofRs10.59. It also announced acash dividend of Rs2 per shareand 10 per cent bonus shares.Though, result was above marketexpectations, it failed to attractinvestors' attention.

Foreign investors were also onthe selling side as the NCCPLdata indicated net selling of$1.08 million on Friday.

A total of 111.7 million sharestraded during the day which is21.9 million shares more as com-pared to a turnover of 89.8 mil-lion shares on Thursday.

Lotte Pakistan stood as the vol-ume leader with 11.04 millionshares followed by Nishat Powerwith 5.77 million shares andFauji Fertilizer Bin Qasim with5.68 million shares. Out of total369 active issues; 246 declinedand 102 advanced while 21issues remained unchanged.

Bears shove100-Indexbelow 12k

FRANKFURT: Williams Formula One car is pictured at Frankfurt's stock exchange.-Reuters

LONDON: Commodity andbanking stocks drove Britain'sFTSE 100 share index higheron Friday as traders welcomedthe decision of the EgyptianPresident Hosni Mubarak toresign. Egypt's Vice PresidentOmar Suleiman said in a tele-vised statement on Friday thatPresident Hosni Mubarak hadbowed to pressure from thestreet and resigned, handingpower to the army.

"The market has taken thenews well. It has cleared someuncertainty and boostedinvestor sentiments," JimmyYates, head of equities at CMCMarkets, said.

The FTSE 100 index closedup 42.89 points, or 0.7 percent, at 6,062.90, bouncing offa session low of 5,973.44.

Miners and energy stocksrallied on the news fromEgypt. Mid cap minerCentamin Egypt, with signifi-

cant operations in the region,reversed a loss of more than 5percent to gain 6.4 per cent.

Anglo American, which isdue to report earnings on Feb.18, added 3.4 per cent after DeBeers, the world's largest dia-mond producer, returned toprofit. Anglo American said itwould post underlying earn-ings of $302 million for theyear from its investment in DeBeers.

Energy heavyweight BGGroup climbed 3.5 per cent,hitting an all-time high duringthe session, with traders citingtechnical factors and its M&Apotential.

"We like their outlook fornext year and yield. They docontinually have takeoverspeculation. I think the portfo-lio and exposure to Brazilmakes them very attractive tothe majors," Martin Dobson,head of trading at Westhouse

Securities, said.Oil explorer Tullow Oil rose

3.8 per cent as Deutsche Bankand Barclays Capital uppedtheir respective target prices onthe stock, following an oil dis-covery at one of its interests inGhana on Thursday.

BANKS REBOUND Banks rebounded as risk

appetite returned and investorsshrugged aside European debtworries.

Lloyds Banking Groupadded 1.6 per cent, whileBarclays pared losses ahead ofresults due on Tuesday.

Insurer Legal & General rose3.9 per cent on a bullish notefrom Nomura, which lifted itsprice target.

Concerns over the outlookfor retailers saw Next, Marks& Spencer and Kingfisheramong the top fallers onLondon's blue chip index,down 0.5-3.1 per cent. Reuters

FTSE rallies as Egyptpresident calls it a day

MUMBAI: Indian shares snapped a three-daylosing streak and gained 1.5 percent on Friday,helped by gains in financials and a late recoveryin Anil Ambani shares. However, the benchmarkindex still shed 1.6 per cent this week and post-ed its third straight weekly decline. Shares inAnil Ambani-led companies recovered after anearly slide after the Reliance ADA Groupblamed stock brokers for spreading "baselesssensational charges" against the group.

The 30-share BSE index ended up 1.52 percent, or 265.57 points, to 17,728.61, with 21 ofits components advancing. "It looks like there issome bottom-fishing and value buying happen-ing," said Nitin Rakesh, CEO of Motilal Oswal'sasset management business, adding that valua-tions had turned attractive in certain "pockets."

"But, it is difficult to say if we have formed abottom or will we see more pain next week. Thecorruption issues continue to weigh and maycheck big gains," said Rakesh.

The benchmark has declined 13.6 per centyear-to-date, as foreign funds pulled out $1.5billion from Indian equities.

A spate of corruption scandals has crippled thegovernment, leading to arrests of politicians andcompany executives, and rattled a market wor-ried about where the next shoe may drop.

Corruption scandals and an investor pullbackfrom emerging markets left Indian equity fundsamong the worst performers in January, whileeuro zone funds proved the biggest gainers,

Lipper data showed.Reliance Infrastructure closed 5.2 per cent

higher, while Reliance Communications firmed0.6 per cent at close. Reliance Power rose near-ly 2 per cent.

Financials pulled back after falling for most ofthe week. The banking sector index rose 3.5 percent, but is still down1.8 per cent this month.

Top lender State Bank of India firmed 3.5 percent, while leading private lenders ICICI Bankand HDFC Bank gained 4.2 per cent and 2.1 percent, respectively.

Mortgage lenders Housing DevelopmentFinance Corp gained 3.9 per cent.

Tata Motors, India's leading truck maker thatalso produces cars, closed 3.8 per cent higher.

Towards the market close, it reported quarter-ly net profit nearly quadrupled, topping fore-casts, on strong demand in India and improvedperformance at its Jaguar and Land Rover unit.

Telecom companies continued to be underpressure after India's telecoms regulator pro-posed steep rises in the price of 2G mobile radiowaves earlier this week.

Bharti Airtel and Idea Cellular ended down 1.1per cent and 2.1 per cent, respectively.

Nearly three shares advanced for every sharethat declined in the broader market in a volumeof 336 million shares traded on the BSE, higherthan its 30-day average daily volume of 306 mil-lion shares. The 50-share NSE index gained 1.6per cent to 5,310. Reuters

Indian marketsdown for 3rd week

Saturday, February 12, 20116

Volume 111,757,018

Value 4,474,702,333

Trades 58,698

Advanced 102

Declined 246

Unchanged 21

Total 369

Current 8,296.13

High 8,495.98

Low 8,292.52

Change i163.31

Current 11,943.34

High 12,236.99

Low 11,938.24

Change i244.13

Current 11,535.33

High 11,843.09

Low 11,487.82

Change i246.60

Market KSE 100 Index All Share Index KSE 30 Index

Current 19,275.88

High 19,804.16

Low 19,185.97

Change i410.63

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

D. S. Industries Limited

DSIL closed down -0.05 at 1.60. Volume was 53 per cent above average

and Bollinger Bands were 9 per cent wider than normal. The company's

loss after taxation stood at Rs31.558 million which translates into a Loss

Per Share of Rs0.53 for the 1st quarter of current fiscal year (1QFY11).

DSIL is currently 21.0 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 moderate flows of volume out of DSIL (mildly bearish). Trend

forecasting oscillators are currently bearish on DSIL.

RSI (14-day) 41.05 Total Assets (Rs in mn) 840.05

MA (10-day) 1.68 Total Equity (Rs in mn) (309.63)

MA (100-day) 1.78 Revenue (Rs in mn) 913.02

MA (200-day) 2.02 Interest Expense 88.07

1st Support 1.55 Loss after Taxation (23.38)

2nd Support 1.45 EPS 10 (Rs) (0.390)

1st Resistance 1.75 Book value / share (Rs) (5.16)

2nd Resistance 1.85 PE 11 E (x) -

Pivot 1.65 PBV (x) (0.31)

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

JSBL closed up 0.02 at 2.64. Volume was 266 per cent above average

(trending) and Bollinger Bands were 9 per cent narrower than normal.

The company's loss after taxation stood at Rs404.872 million which

translates into a Loss Per Share of Rs0.66 for the nine months of cur-

rent calendar year (9MCY10).

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

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

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

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

equal pace. Trend forecasting oscillators are currently bullish on JSBL.

RSI (14-day) 57.93 Total Assets (Rs in mn) 32,894.92

MA (10-day) 2.48 Total Equity (Rs in mn) 5,654.56

MA (100-day) 2.56 Revenue (Rs in mn) 2,527.30

MA (200-day) 2.65 Interest Expense 1,806.71

1st Support 2.55 Loss after Taxation (594.94)

2nd Support 2.41 EPS 09 (Rs) (0.98)

1st Resistance 2.84 Book value / share (Rs) 9.23

2nd Resistance 2.99 PE 10 E (x) -

Pivot 2.70 PBV (x) 0.29

JS Bank Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

TELE closed down -0.09 at 2.06. Volume was 50 per cent below aver-

age (consolidating) and Bollinger Bands were 14 per cent narrower

than normal The company's profit after taxation stood at Rs251.746 mil-

lion which translates into an Earning Per Share of Rs0.84 for the 1st

quarter of current fiscal year (1QFY11).

TELE is currently 18.3 per cent below its 200-day moving average and

is displaying a downward trend. Volatility is relatively normal as com-

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

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

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

RSI (14-day) 41.09 Total Assets (Rs in mn) 9,610.12

MA (10-day) 2.10 Total Equity (Rs in mn) 3,400.99

MA (100-day) 2.25 Revenue (Rs in mn) 2,414.18

MA (200-day) 2.53 Interest Expense 530.45

1st Support 2.02 Profit after Taxation 698.46

2nd Support 1.93 EPS 10 (Rs) 2.328

1st Resistance 2.19 Book value / share (Rs) 11.34

2nd Resistance 2.27 PE 11 E (x) 0.61

Pivot 2.10 PBV (x) 0.18

Telecard Limited

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

LPCL closed down -0.06 at 3.06. Volume was 46 per cent below aver-age and Bollinger Bands were 4 per cent wider than normal. The com-pany's loss after taxation stood at Rs1.045 billion which translates intoa Loss Per Share of Rs0.80 for the nine months of current calendaryear (9MCY10).LPCL is currently 0.5 per cent below its 200-day moving average andis displaying a downward trend. Volatility is extremely low when com-pared to the average volatility over the last 10 trading sessions. Volumeindicators reflect volume flowing into and out of LPCL at a relativelyequal pace. Trend forecasting oscillators are currently bearish on LPCL.

RSI (14-day) 34.89 Total Assets (Rs in mn) 19,704.24

MA (10-day) 3.19 Total Equity (Rs in mn) 9,763.73

MA (100-day) 3.14 Revenue (Rs in mn) 8,129.96

MA (200-day) 3.08 Interest Expense 1,230.81

1st Support 2.97 Loss after Taxation (1,278.96)

2nd Support 2.87 EPS 09 (Rs) (0.974)

1st Resistance 3.20 Book value / share (Rs) 7.44

2nd Resistance 3.33 PE 10 E (x) -

Pivot 3.10 PBV (x) 0.41

Lafarge Pakistan Cement Ltd

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,547.38 1,555.29 1,496.88 1,513.52 -33.87 -2.19

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

5,653,152 - - 65,194.15 mn 1,170,839.27 mn 1,583.28

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

11.01 3.58 32.54 55.94 5.08 1,513.52

Attock Petroleum 691 6.66 380.29 380.00 365.06 368.79 -11.50 169148 401.00 302.25 300 20B115.00 -

Attock Refinery 853 4.65 119.12 119.85 113.17 114.06 -5.06 923793 146.90 113.17 - - - -

BYCO Petroleum 3921 - 9.82 9.89 9.35 9.42 -0.40 696203 12.49 9.35 - - - -

Mari Gas Company 735 16.43 124.95 126.00 120.00 121.25 -3.70 36123 141.65 117.00 31 - - -

National Refinery 800 5.54 272.54 275.00 265.05 267.19 -5.35 191090 335.00 251.80 200 - - -

Oil & Gas Development 43009 11.29 169.78 170.50 165.00 166.83 -2.95 281110 185.00 157.56 55 - 15.00 -

Pak Petroleum 11950 7.49 210.04 211.38 202.50 204.98 -5.06 1238993 229.80 191.10 90 20B 50.00 -

Pak Oilfields 2365 7.20 320.57 321.75 310.50 312.30 -8.27 1874457 341.50 250.20 255 -100.00 -

Pak Refinery Limited 350 - 105.29 107.58 100.03 100.37 -4.92 136930 122.22 81.01 - - - -

P.S.O 1715 4.63 280.26 282.43 268.00 273.47 -6.79 779334 317.79 268.00 80 - 50.00 -

Shell Gas LPG 226 - 31.50 32.49 30.35 30.50 -1.00 2596 39.89 30.35 - - - -

Shell Pakistan 685 10.63 214.68 215.00 206.00 207.27 -7.41 19578 222.00 194.00 40 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

988.94 1,001.00 981.15 985.16 -3.78 -0.38

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

14,090,837 - - 47,070.70 mn 136,253.28 mn 994.19

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

6.98 0.60 8.64 16.68 2.39 985.16

(Colony) Thal 56 - 1.35 1.40 1.25 1.25 -0.10 1502 1.50 0.61 - - - -

Amtex Limited 2594 8.48 3.81 3.90 3.70 3.73 -0.08 245703 5.28 3.65 30 - - -

Artistic Denim 840 6.11 22.00 23.10 21.60 22.00 0.00 10353 24.59 19.40 20 - - -

Azam Textile 133 0.28 2.63 2.20 2.00 2.00 -0.63 9500 3.00 1.32 7.5 - - -

Azgard Nine 4493 - 10.92 11.13 10.12 10.32 -0.60 4688797 12.84 9.20 - - - -

Babri Cotton 33 0.47 11.41 12.41 10.50 11.47 0.06 3255 15.25 8.10 - 15B - -

Bannu Woolen XD 76 0.49 14.00 14.00 13.51 13.99 -0.01 14900 15.10 12.40 20 - - -

Bata (Pak) 76 5.18 631.77 632.50 625.00 625.25 -6.52 648 705.00 580.00 - - - -

Bilal Fibres 141 0.45 1.49 1.69 0.95 1.69 0.20 1001 2.80 0.95 - - - -

Chenab Limited 1150 - 2.85 2.98 2.60 2.70 -0.15 75004 3.76 2.60 - - - -

Colony Mills Ltd 2442 3.84 2.41 2.74 2.06 2.46 0.05 15529 2.97 2.06 - - - -

Crescent Fibres Ltd 124 0.65 15.10 14.10 14.10 14.10 -1.00 500 15.10 10.00 10 - - -

Crescent Textile 492 3.41 17.40 17.74 16.45 17.72 0.32 10001 23.99 16.45 15 - - -

D S Ind Ltd 600 - 1.65 1.75 1.55 1.60 -0.05 259713 2.10 1.55 - - - -

Dawood Lawrencepur 514 42.95 36.57 38.00 36.50 36.51 -0.06 21533 47.00 35.00 5 - - -

Dewan Farooque Spin. 600 3.39 3.42 4.20 3.40 4.20 0.78 501 8.00 3.10 - - - -

Dewan Mushtaq Textile 34 0.14 4.01 4.49 4.01 4.49 0.48 6025 8.90 2.90 - - - -

Din Textile 204 0.61 29.90 28.41 28.41 28.41 -1.49 5000 29.94 24.02 20 10B - -

Fazal Textile 62 3.34 400.91 419.00 415.99 419.00 18.09 101 454.50 371.02 100 - - -

Gadoon Textile XD 234 0.82 76.50 75.50 75.00 75.50 -1.00 1001 77.40 47.00 70 - - -

Ghazi Fabrics 326 1.06 5.50 6.50 5.50 6.50 1.00 500 6.50 2.99 10 - - -

Gul Ahmed Textile 635 4.17 29.00 29.25 28.01 29.05 0.05 9701 33.19 24.00 12.5 - - -

Gulistan Spinning 146 1.08 6.00 6.00 5.32 5.66 -0.34 226 8.86 5.26 10 - - -

Gulshan Spinning 222 0.88 7.68 7.48 7.25 7.26 -0.42 1140 8.50 6.30 10 20B - -

Hira Textile Mills Ltd. 716 0.70 3.81 3.90 3.70 3.71 -0.10 5743 4.47 3.31 10 - - -

Ibrahim Fibres 3105 3.95 52.38 51.55 49.77 50.20 -2.18 49100 55.00 36.26 20 - - -

Idrees Textile 180 3.42 3.50 3.50 3.15 3.15 -0.35 13300 3.90 2.70 10 - - -

J K Spinning 184 1.10 8.24 7.26 7.24 7.24 -1.00 8500 9.50 4.05 20 5B - -

Janana D Mal 43 0.22 14.45 15.40 13.50 13.51 -0.94 1404 18.00 13.40 - - - -

Kohinoor Ind 303 - 1.50 1.54 1.42 1.43 -0.07 10160 2.00 0.75 - - - -

Kohinoor Textile 1455 3.57 5.00 5.23 4.95 5.00 0.00 4502 5.95 4.81 - - - -

Leather Up 60 1.19 1.31 1.80 1.00 1.00 -0.31 105 3.00 1.00 - - - -

Masood Textile 600 1.99 17.82 18.82 17.20 18.82 1.00 3830 20.74 17.10 15 100R - -

Moonlite (PAK) 22 - 16.80 17.00 17.00 17.00 0.20 5000 17.00 4.50 - - - -

Nishat (Chunian) 1614 2.11 25.28 26.39 25.02 25.45 0.17 5124169 26.58 21.15 15 - - -

Nishat Mills 3516 5.49 65.05 65.90 62.57 63.91 -1.14 2838244 71.89 52.80 25 45R - -

Pak Synthetic 560 4.24 12.96 13.25 12.50 12.55 -0.41 131400 14.45 6.21 - - - -

Paramount Spinning 174 0.88 12.05 12.05 12.05 12.05 0.00 200 12.40 8.25 10 10B - -

Premium Textile 62 0.48 29.69 30.45 28.21 30.30 0.61 12002 34.40 25.00 50 - - -

Ravi Textile 250 - 1.28 1.44 1.21 1.27 -0.01 31843 1.98 0.65 - - - -

Reliance Weaving 308 0.67 9.60 9.60 9.50 9.58 -0.02 56500 10.34 8.50 25SD - - -

Rupali Poly 341 5.03 40.53 41.90 40.00 40.01 -0.52 25116 42.70 34.70 40 - - -

Sajjad Textile 213 - 0.42 0.42 0.42 0.42 0.00 50000 3.74 0.15 - - - -

Samin Textile 267 5.00 6.25 6.59 6.00 6.00 -0.25 5003 7.00 5.11 - 100R - -

Saritow Spinning 133 0.25 1.75 1.55 1.55 1.55 -0.20 9399 2.89 1.00 - - - -

Service Ind 120 7.26 221.06 226.80 210.01 212.00 -9.06 107964 276.50 195.00 - - - -

Shadman CotSPOT 176 2.79 16.15 16.95 15.20 15.30 -0.85 3282 16.95 7.00 - - - -

Shahpur Textile 140 0.51 0.37 0.49 0.37 0.37 0.00 501 0.70 0.20 - - - -

Shahtaj Textile 97 - 20.05 19.05 19.05 19.05 -1.00 230 20.29 16.35 45 - - -

Tata Textile 173 0.40 39.99 41.00 38.00 41.00 1.01 6451 42.00 30.00 25 - - -

Thal Limited 307 5.05 118.09 119.99 116.02 118.10 0.01 1911 132.00 96.30 80 20B - -

Treet Corp 418 8.58 56.72 57.00 53.89 53.89 -2.83 64630 63.30 50.76 - - - -

Tri-Star Poly 215 - 0.84 1.29 0.55 0.56 -0.28 4510 1.49 0.43 - - - -

Zil Limited 53 4.67 66.50 69.82 66.00 69.78 3.28 133196 72.49 43.01 35 - - -

Paid up Last 60 days 2010 2011

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,085.96 1,112.28 1,043.56 1,062.77 -23.19 -2.14

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

232,122 - - 3,763.71 mn 5,116.34 mn 1,110.02

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

2.80 0.30 10.64 6.27 2.24 1,062.77

Pak Elektron 1219 3.37 13.80 14.20 13.00 13.36 -0.44 153069 15.88 13.00 - 10B - -

Singer Pak 341 26.18 22.35 23.40 23.20 23.30 0.95 202 23.62 17.55 - - - -

Tariq Glass Ind 231 2.30 20.04 20.60 19.05 19.20 -0.84 78831 24.00 15.90 17.5 - - 200R

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,826.38 1,865.45 1,769.12 1,783.06 -43.31 -2.37

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

289,246 - - 11,335.33 mn 273,060.05 mn 1,837.00

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

47.22 14.31 30.30 30.57 0.65 1,783.06

AL-Abbas Sugar XD 174 7.03 97.00 93.90 92.15 93.06 -3.94 50000 102.89 89.78 50 - - -

Clover Pakistan 94 - 59.37 56.41 56.41 56.41 -2.96 183 78.40 46.15 15 - - -

Colony Sugar Mills 990 7.35 3.09 3.35 2.40 2.94 -0.15 2122 5.70 2.40 - - - -

Crescent Sugar 214 0.63 6.25 6.50 6.26 6.26 0.01 737 7.15 5.00 - - - -

Dewan Sugar 365 - 3.00 3.25 3.00 3.00 0.00 12100 5.59 1.60 - - - -

Fecto Sugar 146 - 34.26 35.97 35.90 35.97 1.71 1159 55.00 28.00 - - - -

Habib Sugar 750 8.73 22.46 22.60 21.61 21.99 -0.47 159158 36.50 21.35 25 25B - -

Habib-ADM Ltd 200 7.44 12.48 12.20 12.20 12.20 -0.28 500 12.95 11.50 40 - - -

Haseeb Waqas XD 324 - 15.71 16.71 14.71 16.71 1.00 346 23.62 14.71 10 - - -

Ismail Ind 505 35.46 78.48 80.50 78.99 79.42 0.94 1000 81.12 68.60 17.5 110R - -

J D W Sugar 539 1.29 71.15 73.75 71.15 72.84 1.69 1483 92.50 68.00 7010B 12.5R - -

Mehran Sugar XD XB 157 1.84 56.49 56.50 56.00 56.50 0.01 15027 68.49 52.60 35 20B 7.50 -

Mirza Sugar XD 141 - 4.40 4.20 4.20 4.20 -0.20 2000 7.18 4.01 10 - - -

National Foods 414 21.27 56.90 57.00 55.50 57.00 0.10 1603 75.50 41.52 12 - - -

Noon Pakistan 48 3.36 22.43 23.55 23.50 23.55 1.12 600 27.30 21.00 12 - - -

Quice Food 107 8.09 3.12 4.00 3.45 3.56 0.44 32500 4.00 2.05 - - - -

S S Oil 57 0.25 3.10 2.95 2.95 2.95 -0.15 1000 3.85 2.50 - - - -

Shahmurad Sugar XD 211 2.84 8.81 9.00 8.30 8.30 -0.51 701 13.50 8.30 10 - - -

Shahtaj Sugar 120 4.09 59.09 62.04 56.14 61.09 2.00 127 100.26 50.93 - - - -

Shakarganj Mills 695 0.33 4.90 5.48 4.65 4.65 -0.25 2002 7.88 4.46 - - - -

Tandlianwala 1177 14.99 40.12 42.12 40.35 41.97 1.85 4530 43.00 31.50 - - - -

UniLever Pakistan 665 19.35 4340.53 4384.46 4125.02 4145.50 -195.03 121 4818.00 3916.04 178 - - -

Paid up Last 60 days 2010 2011

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,269.66 1,287.72 1,247.82 1,260.30 -9.36 -0.74

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

228,651 - - 6,768.53 mn 46,745.78 mn 1,280.19

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

4.69 1.19 25.35 20.42 4.36 1,260.30

Agriautos Ind 144 5.31 71.98 74.97 70.00 70.15 -1.83 260 82.63 67.79 90 - - -

Atlas Battery 101 5.77 195.41 197.49 190.90 193.32 -2.09 6289 205.00 155.26 100 20B - -

Atlas Engineering Ltd 247 36.19 40.50 42.00 38.48 40.53 0.03 7001 43.26 15.00 - - - -

Atlas Honda 626 9.48 136.35 140.00 130.00 136.55 0.20 5095 143.80 96.90 - - - -

Dewan Motors 890 - 1.99 2.12 1.78 1.96 -0.03 123503 2.89 1.40 - - - -

Exide (PAK) 56 4.77 197.60 194.90 188.01 194.83 -2.77 1010 217.44 150.00 60 - - -

General Tyre 598 19.94 23.50 24.29 22.80 23.13 -0.37 6004 26.74 21.00 20 - - -

Ghandhara Nissan 450 3.13 4.50 4.99 4.33 4.50 0.00 10292 5.36 4.33 - - - -

Ghani Automobile Ind 200 7.03 4.30 4.50 4.20 4.50 0.20 25001 5.75 4.01 - - - -

Honda Atlas Cars 1428 - 11.19 11.20 10.75 10.90 -0.29 5201 13.40 10.60 - - - -

Indus Motors 786 6.60 290.00 290.00 288.25 289.00 -1.00 21305 309.73 248.00 150 - - -

Pak Suzuki 823 10.00 63.69 65.89 62.50 62.79 -0.90 4973 77.90 62.50 - - - -

Sazgar Engineering 150 4.34 23.25 24.00 22.55 23.25 0.00 12268 24.00 18.80 10 20B - -

Transmission 117 - 1.30 1.30 1.30 1.30 0.00 448 2.45 1.30 - - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,565.59 1,581.37 1,554.63 1,559.03 -6.56 -0.42

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

40,734 - - 1,336.62 mn 33,600.86 mn 1,596.58

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

8.32 3.16 38.02 131.49 15.81 1,559.03

Ados Pak 66 0.97 15.96 15.41 15.05 15.05 -0.91 2690 18.20 14.12 - - - -

AL-Ghazi Tractor 215 5.49 232.75 234.00 222.56 229.07 -3.68 2418 244.95 206.00 150 - - -

Ghandhara Ind 213 9.81 11.10 10.90 10.55 10.59 -0.51 11200 13.50 10.51 - - - -

Millat Tractors XB 366 8.29 540.60 545.50 538.00 538.28 -2.32 24334 568.40 482.00 650 25B325.00 -

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

999.03 1,008.43 960.96 982.03 -17.00 -1.70

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

122,693 - - 3,043.31 mn 36,944.37 mn 1,011.19

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

2.69 1.18 43.91 15.55 5.77 982.03

Cherat Papersack 115 2.77 63.58 62.25 60.41 60.41 -3.17 127702 83.23 52.50 20 25B - 50R

ECOPACK Ltd 230 - 2.60 2.66 2.41 2.60 0.00 16025 3.30 1.82 - - - -

Ghani Glass 1067 4.81 53.58 52.87 52.10 52.32 -1.26 7100 56.45 45.30 25 10B - -

MACPAC Films 389 - 3.92 4.00 3.75 3.75 -0.17 7659 4.14 2.43 - - - -

Merit Pack 47 17.81 32.91 33.80 31.27 32.06 -0.85 22881 33.80 17.10 - - - -

Packages Ltd 844 61.82 126.28 127.89 120.00 120.54 -5.74 36147 143.00 103.52 - - - -

Tri-Pack Films 300 9.25 129.67 129.50 124.00 126.81 -2.86 32828 144.50 104.00 - - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

917.31 930.82 878.85 897.24 -20.07 -2.19

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

5,640,498 - - 54,792.74 mn 64,553.15 mn 941.61

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

6.52 0.46 7.10 19.04 2.92 897.24

Al-Abbas Cement 1828 - 3.00 3.09 2.81 2.82 -0.18 18597 3.98 2.75 - 100R - -

Attock Cement 866 6.38 51.50 52.40 49.16 50.43 -1.07 62854 65.99 49.16 50 - - -

Balochistan Glass Ltd 858 - 2.46 2.80 2.25 2.25 -0.21 2060 4.24 1.10 - - - -

Berger Paints 182 - 19.00 19.00 18.20 18.60 -0.40 5055 24.16 17.10 - 122R - -

Buxly Paints 14 - 11.00 10.10 10.00 10.10 -0.90 501 15.50 7.91 - - - -

Cherat Cement 956 41.25 9.95 10.20 9.55 9.90 -0.05 10551 12.59 9.55 - - - -

Dadabhoy Cement 982 14.15 1.85 1.90 1.84 1.84 -0.01 247 2.49 1.50 - - - -

Dadex Eternit 108 - 19.00 20.00 18.06 19.96 0.96 1007 25.75 18.06 - - - -

Dandot Cement 948 - 2.00 2.00 2.00 2.00 0.00 500 3.49 1.60 - - - -

Dewan Cement 3891 - 1.99 2.19 1.85 1.90 -0.09 193989 3.10 1.58 - - - -

DG Khan Cement Ltd 3651 112.50 28.33 28.60 26.92 27.00 -1.33 2631283 32.30 26.92 - 20R - -

EMCO Ind 350 3.43 2.91 3.05 2.15 2.88 -0.03 4639 4.00 2.15 - - - -

Fauji Cement 6933 6.24 4.56 4.66 4.45 4.49 -0.07 225209 5.55 4.45 - - - 92R

Fecto Cement 502 3.65 7.35 7.01 7.00 7.00 -0.35 13301 8.20 6.95 - - - -

Flying Cement Ltd 1760 - 1.71 1.73 1.63 1.65 -0.06 52878 2.25 1.60 - - - -

Gharibwal Cement 4003 - 6.29 6.85 5.30 6.85 0.56 505 9.19 3.06 - - - -

Haydery Const 32 - 0.67 0.63 0.51 0.61 -0.06 1105 0.99 0.25 - - - -

Javedan Cement 581 - 62.50 62.00 59.70 59.70 -2.80 400 64.52 56.05 - - - -

Kohat Cement 1288 - 6.06 6.03 5.99 6.00 -0.06 58484 8.70 5.99 - - - -

Lafarge Pakistan Cmt. 13126 - 3.12 3.23 3.00 3.06 -0.06 1377173 3.88 2.95 - - - -

Lucky Cement 3234 6.08 68.60 69.30 66.00 67.67 -0.93 805010 78.44 66.00 40 - - -

Maple Leaf Cement 5261 1.20 2.68 2.69 2.51 2.57 -0.11 153662 3.30 2.51 - - - -

Maple Leaf(Pref) 541 3.17 4.18 4.31 4.26 4.31 0.13 588 8.74 3.21 - - - -

Pioneer Cement 2228 - 6.50 6.70 6.11 6.26 -0.24 10703 8.20 6.11 - - - -

Safe Mix Concrete 200 - 7.00 6.90 6.50 6.50 -0.50 2505 7.95 5.30 - - - -

Shabbir Tiles 361 - 8.00 8.40 7.00 8.40 0.40 144 9.60 7.00 - - - -

Thatta Cement 798 458.50 17.70 18.39 17.40 18.34 0.64 10050 20.44 16.75 - 50R - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

1,028.85 1,038.94 998.87 1,011.09 -17.76 -1.73

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

128,523 - - 3,596.11 mn 9,718.95 mn 1,034.29

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

3.16 1.05 33.10 30.91 9.77 1,011.09

Crescent Steel 565 3.02 29.03 29.10 28.50 28.90 -0.13 14600 31.00 24.01 30 - 10.00 -

Dost Steels Ltd 675 - 2.50 2.50 2.35 2.35 -0.15 75366 3.29 2.35 - - - -

Huffaz Pipe 555 8.99 14.19 14.50 14.05 14.38 0.19 23355 16.51 13.81 - - - -

International IndSPOT 1199 18.22 51.28 52.00 49.50 50.10 -1.18 15140 62.20 44.75 55 20B - -

Paid up Last 60 days 2010 2011

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,053.65 1,086.29 1,016.86 1,051.92 -1.73 -0.16

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

43,590 - - 1,186.83 mn 2,916.35 mn 1,053.91

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

5.24 0.39 7.47 25.28 4.82 1,047.32

Century Paper 707 - 16.13 16.24 15.13 15.95 -0.18 12030 19.69 14.95 - - - -

Pak Paper Product 50 8.37 44.00 46.20 41.80 43.50 -0.50 152 48.90 39.00 2533.33B - -

Security Paper 411 6.79 37.75 39.50 37.25 38.00 0.25 31408 47.70 37.25 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,591.78 1,608.53 1,557.63 1,568.42 -23.36 -1.47

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

29,547,806 - - 52,251.88 mn 345,076.58 mn 1,607.80

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

9.57 3.35 35.00 48.81 5.10 1,568.42

Agritech Limited 3924 8.09 23.50 24.18 22.33 22.34 -1.16 124391 26.73 20.91 - - - -

BOC (Pak) 250 12.54 93.50 93.95 89.85 91.27 -2.23 10527 103.94 77.05 15 - - -

Clariant Pak 273 7.06 200.90 201.91 196.00 197.25 -3.65 19706 213.30 151.55 135 25B - -

Dawood Hercules 1203 7.98 198.10 199.00 192.00 192.53 -5.57 14489 215.00 165.73 40 - - -

Descon Chemical 1996 - 3.11 3.50 3.05 3.12 0.01 1128635 3.74 2.37 - - - -

Descon Oxychem Ltd. 1020 - 7.86 8.14 7.60 7.68 -0.18 308733 9.25 6.90 - - - -

Dewan Salman 3663 - 3.00 3.24 2.86 2.98 -0.02 3311344 4.24 1.52 - - - -

Dynea Pak 94 - 11.11 11.38 11.00 11.22 0.11 3200 11.98 9.15 15 - - -

Engro Corporation Ltd 3277 11.54 213.66 215.50 208.10 210.07 -3.59 1512521 222.80 178.21 40 - - -

Engro Polymer 6635 - 13.16 13.49 12.90 13.22 0.06 1544650 15.87 12.51 - - - -

Fatima Fertilizer 22000 - 11.97 11.96 11.70 11.75 -0.22 985900 12.64 9.16 - - - -

Fauji Fertilizer 6785 9.18 151.20 152.87 148.60 149.24 -1.96 3172752 157.90 108.80 130 25B - -

Fauji Fert.Bin Qasim 9341 7.71 41.21 41.70 40.50 40.85 -0.36 5681184 43.99 33.05 52.5 - - -

Ghani Gases Ltd 725 8.53 11.40 11.45 11.11 11.26 -0.14 39214 13.07 11.00 - - - -

ICI Pakistan 1388 8.21 148.26 149.10 145.00 145.78 -2.48 267049 158.49 132.70 55 - - -

Lotte Pakistan 15142 5.86 16.18 16.44 15.77 15.93 -0.25 11040772 16.80 11.70 5 - - -

Mandviwala 74 - 1.43 1.44 1.26 1.40 -0.03 22729 2.45 1.01 - - - -

Nimir Ind Chemical 1106 - 2.78 2.82 2.40 2.53 -0.25 2185555 3.17 1.40 - - - -

Shaffi Chemical 120 - 2.34 2.40 2.05 2.20 -0.14 1016 3.10 2.02 - - - -

Sitara Chem Ind 214 8.72 108.50 107.00 104.00 106.33 -2.17 4128 139.40 104.00 25 5B - -

Sitara Peroxide 551 14.76 14.11 14.20 13.50 13.58 -0.53 277258 14.69 12.70 - - - -

United Distributors 92 - 14.10 14.95 14.25 14.25 0.15 102 14.99 8.51 - - - -

Wah-Noble 90 6.94 37.63 37.70 36.01 36.10 -1.53 6455 41.99 32.22 50 - - -

Paid up Last 60 days 2010 2011

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

910.63 915.97 890.72 892.42 -18.21 -2.00

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

26,930 - - 3,904.20 mn 29,828.40 mn 910.63

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

6.53 1.46 22.31 44.54 6.82 892.42

Abbott (Lab) 979 8.25 95.08 95.50 94.00 94.08 -1.00 3614 112.50 94.00 20 - - -

Ferozsons (Lab) 250 6.88 95.47 98.00 90.70 91.11 -4.36 2676 98.00 82.50 - 20B - -

GlaxoSmithKline 1707 13.14 74.98 74.99 73.00 73.06 -1.92 7318 89.98 70.00 - - - -

Highnoon (Lab) 165 7.25 27.28 26.90 26.13 26.16 -1.12 773 30.48 24.15 - - - -

IBL HealthCare Ltd 200 7.45 8.99 9.44 8.10 9.24 0.25 1022 9.99 7.16 - - - -

Sanofi-Aventis 96 12.89 170.50 172.00 161.98 161.98 -8.52 11476 174.00 116.00 - - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

739.00 747.17 717.21 719.80 -19.20 -2.60

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

45,287 - - 3,242.17 mn 12,341.59 mn 754.58

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

5.44 1.39 25.53 11.08 2.04 719.80

Pak Int Cont.Terminal 1092 6.85 72.82 73.80 71.00 71.24 -1.58 15754 76.65 68.00 40 - - -

PNSC 1321 35.92 34.62 34.70 32.89 33.05 -1.57 29533 39.45 32.36 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

Dewan Farooque Motors # 14-Feb 21-Feb - - 21-Feb

(TFC) Allied Bank 14-Feb 27-Feb - - -

(TFC) Pakarab Fertilizers 15-Feb 28-Feb - - -

Int Ind (Consolidated) 16-Feb 24-Feb 15(I) 08-Feb -

KASB Cash Fund 17-Feb - - - -

Kohinoor Mills # 17-Feb 24-Feb - - 24-Feb

Ideal Energy # 18-Feb 26-Feb - - 26-Feb

Olympia Spng & Weaving Mills # 18-Feb 26-Feb - - 26-Feb

Millat Tractors 18-Feb 24-Feb 325(I) 09-Feb -

Shadman Cotton Mills 19-Feb 26-Feb 5 10-Feb 26-Feb

Reliance Cotton Spng Mills # 19-Feb 26-Feb - - 26-Feb

Mehran Sugar Mills 21-Feb 28-Feb 7.5(I) 10-Feb -

Frontier Ceramics 21-Feb 28-Feb - - 28-Feb

Gharibwal Cement 21-Feb 28-Feb - - 28-Feb

Ansari Sugar Mills 21-Feb 28-Feb - - 28-Feb

Tandlianwala Sugar Mills 21-Feb 28-Feb - - 28-Feb

Zeal Pak Cement - - - - 28-Feb

Descon Oxychem # 21-Feb 28-Feb - - 28-Feb

Int Industries # - - - - 24-Feb

Pakistan Oilfields 22-Feb 01-Mar 100(I) 11-Feb -

Fauji Fertiliser 23-Feb 01-Mar 35(F)25(B) 14-Feb 1-Mar

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan Cables 54.1 54 54 54 -0.1 3043

TRG Pakistan Ltd. 3.12 3.19 3.02 3.08 -0.04 600926

Murree Brewery Co. 98 98 93.3 94.42 -3.58 57467

Shakarganj Food 1.14 1.15 0.9 0.9 -0.24 6000

Shezan International 175.58 177.8 166.81 166.92 -8.66 12268

Pak Tobacco 113 114 108 111.92 -1.08 6013

Eye Television 19.27 20.27 18.75 18.98 -0.29 12438

Media Times Ltd XR 17.5 18.49 16.62 18.35 0.85 2095

P.I.A.C.(A) 2.74 2.77 2.5 2.5 -0.24 1182379

AKD Capital Limited 43.28 42.99 41.2 41.8 -1.48 2336

Pace (Pak) Ltd. 3.02 3.13 2.95 3.1 0.08 1563644

Netsol Technologies 24.18 24.5 22.98 23.02 -1.16 1306259

Symbols Open High Low Close Change Vol

Saturday, February 12, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -244.13 points at 11,943.34. Volume

was 23 per cent below average and Bollinger Bands were 17 per

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

market will see major 1st resistance level at 12,140.80 and 2nd

resistance level at 12,338.25, while Index will continue to find its 1st

support level at 11,842.05 and 2nd support level at 11,740.75.

KSE 100 INDEX is currently 12.5 per cent above its 200-day moving

average and is displaying a downward trend. Volatility is high as

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

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

relatively equal pace. Trend forecasting oscillators are currently

bearish on INDEX.

RSI (14-day) 35.53 Support 1 11,842.05

MA (5-day) 12,243.68 Support 2 11,740.75

MA (10-day) 12,286.79 Resistance 1 12,140.80

MA (100-day) 11,315.57 Resistance 2 12,338.25

MA (200-day) 10,617.04 Pivot 12,039.50

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -0.36 at 40.85. Volume was 0.01 per cent above aver-

age and Bollinger Bands were 44 per cent narrower than normal.

FFBL is currently 30.6 per cent above its 200-day moving average and is

displaying 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 FFBL at a relatively equal pace.

Trend forecasting oscillators are currently bullish on FFBL.

*Invest Cap 39 Hold

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Neutral

RSI (14-day) 54.97 Free Float Shares (mn) 326.94

MA (10-day) 41.14 Free Float Rs (mn) 13,355.44

MA (100-day) 34.34 ** NOI Rs (mn) 78.36

MA (200-day) 31.25 Mean 41.07

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed down -1.96 at 149.24. Volume was 86 per cent above average

and Bollinger Bands were 38 per cent narrower than normal.

FFC is currently 30.4 per cent above its 200-day moving average and is

displaying 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 FFC at a relatively equal pace. Trend

forecasting oscillators are currently bullish on FFC.

*Invest Cap 149 Hold

AKD Securities Ltd 145 Neutral

TFD Research 139.5 Neutral

RSI (14-day) 58.56 Free Float Shares (mn) 373.19

MA (10-day) 150.64 Free Float Rs (mn) 55,694.86

MA (100-day) 120.88 ** NOI Rs (mn) 37.25

MA (200-day) 114.23 Mean 150.48

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

Technical Analysis Leverage Position

Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed down -1.14 at 63.91. Volume was 39 per cent below average

and Bollinger Bands were 13 per cent narrower than normal.

NML is currently 20.9 per cent above 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 NML at a relatively equal pace. Trend

forecasting oscillators are currently bearish on NML.

*Invest Cap 77 Buy

AKD Securities Ltd 71.45 Accumulate

TFD Research 78.6 Positive

RSI (14-day) 42.08 Free Float Shares (mn) 175.80

MA (10-day) 65.95 Free Float Rs (mn) 11,235.37

MA (100-day) 58.05 ** NOI Rs (mn) 70.55

MA (200-day) 52.83 Mean 64.36

* Target price for Jun-11 & **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 -0.72 at 37.11. Volume was 47 per cent above aver-

age and Bollinger Bands were 27 per cent wider than normal.

HUBC is currently 5.8 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bearish on HUBC.

*Invest Cap 47 Buy

AKD Securities Ltd 42.1 Accumulate

TFD Research 50.3 Positive

RSI (14-day) 41.18 Free Float Shares (mn) 810.01

MA (10-day) 38.56 Free Float Rs (mn) 30,059.40

MA (100-day) 35.95 ** NOI Rs (mn) 1.13

MA (200-day) 35.05 Mean 37.47

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

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed down -1.33 at 27.00. Volume was 48 per cent below aver-

age and Bollinger Bands were 2 per cent wider than normal.

DGKC is currently 0.8 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is normal as compared to the aver-

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

volume flowing into and out of DGKC at a relatively equal pace. Trend fore-

casting oscillators are currently bearish on DGKC.

*Invest Cap 36 Buy

AKD Securities Ltd 38.14 Buy

TFD Research 36.55 Positive

RSI (14-day) 30.05 Free Float Shares (mn) 200.80

MA (10-day) 29.05 Free Float Rs (mn) 5,421.72

MA (100-day) 28.30 ** NOI Rs (mn) 35.78

MA (200-day) 26.81 Mean 27.71

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

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -1.58 at 74.13. Volume was 50 per cent below average

(consolidating) and Bollinger Bands were 32 per cent narrower than normal.

NBP is currently 8.4 per cent above its 200-day moving average and is dis-

playing 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 NBP at a relatively equal pace. Trend

forecasting oscillators are currently bearish on NBP.

*Invest Cap 52.4 Sell

AKD Securities Ltd 75.5 Neutral

TFD Research 92.3 Positive

RSI (14-day) 38.35 Free Float Shares (mn) 318.50

MA (10-day) 76.89 Free Float Rs (mn) 23,610.25

MA (100-day) 69.98 ** NOI Rs (mn) 124.63

MA (200-day) 68.36 Mean 74.89

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed down -8.27 at 312.30. Volume was 7 per cent below average

and Bollinger Bands were 34 per cent narrower than normal.

POL is currently 24.1 per cent above 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 moderate flows of volume out of POL (mildly bearish). Trend fore-

casting oscillators are currently bearish on POL.

*Invest Cap 360 Hold

AKD Securities Ltd 322.42 Neutral

TFD Research 381.35 Positive

RSI (14-day) 39.52 Free Float Shares (mn) 107.94

MA (10-day) 327.44 Free Float Rs (mn) 33,710.59

MA (100-day) 277.53 ** NOI Rs (mn) 151.62

MA (200-day) 251.40 Mean 316.28

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,521.37 1,574.28 1,437.86 1,466.95 -54.42 -3.58

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

9,830,219 - - 29,771.58 mn 19,759.21 mn 1,521.37

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

20.34 0.45 2.21 104.74 8.00 1,404.52

AL-Meezan Mutual F. 1375 8.93 11.10 11.23 10.60 10.72 -0.38 558192 11.50 6.20 18.5 - - -

Atlas Fund of Funds 525 2.38 5.98 6.40 5.34 5.90 -0.08 22006 6.40 3.51 2.2 - - -

B F Modaraba 75 2.19 3.33 3.33 3.33 3.33 0.00 20465 4.00 2.89 - 10B - -

B R R Guardian Mod. 780 3.27 1.41 1.45 1.41 1.44 0.03 12372 2.79 1.30 0 - - -

Constellation Modaraba 65 3.36 1.21 1.99 1.21 1.48 0.27 119 1.99 1.00 - - - -

Elite Cap Modaraba 113 3.13 2.55 2.95 2.25 2.50 -0.05 3002 3.49 2.10 5 - - -

Equity Modaraba 524 12.50 1.82 2.38 1.95 2.00 0.18 13500 2.98 1.15 - - - -

First Capital Mutual F. 300 9.93 4.19 3.98 3.97 3.97 -0.22 6000 5.44 2.55 - - - -

First Dawood Mutual F. 581 0.71 2.30 2.47 2.17 2.25 -0.05 16592 2.57 1.61 - - - -

Golden Arrow 760 2.37 3.49 3.69 3.25 3.32 -0.17 171174 3.89 2.67 17 - - -

Habib Modaraba 1008 6.12 7.15 7.10 7.05 7.10 -0.05 6600 7.30 6.20 21 - - -

JS Growth Fund 3180 72.50 6.00 6.15 5.75 5.80 -0.20 469133 6.17 3.20 5 - - -

JS Value Fund 1186 1.33 6.27 6.49 5.49 5.53 -0.74 482602 6.61 3.10 10 - - -

KASB Modaraba 283 1.47 2.95 2.81 2.00 2.00 -0.95 5001 3.50 1.26 2.8 - - -

Meezan Balanced Fund 1200 2.72 9.37 9.83 9.20 9.47 0.10 1299273 10.24 5.18 15.5 - - -

Mod Al-Mali 184 13.10 1.64 1.76 1.31 1.31 -0.33 2510 2.50 0.92 - - - -

NAMCO Balanced Fund 1000 6.25 4.13 4.00 4.00 4.00 -0.13 1000 4.73 2.92 15 - - -

Pak Modaraba 125 4.60 1.07 1.49 0.92 0.92 -0.15 4551 2.00 0.46 3 - - -

PICIC Energy Fund 1000 3.36 8.33 8.83 7.50 8.12 -0.21 2519591 8.83 5.31 10 - 10.00 -

PICIC Growth Fund 2835 4.39 15.49 16.49 14.49 14.66 -0.83 2819984 16.49 8.82 20 - 12.50 -

PICIC Inv Fund 2841 3.72 7.69 7.95 6.69 6.84 -0.85 1342481 7.95 4.27 10 - 7.50 -

Prud Modaraba 1st 872 2.27 1.00 1.10 0.90 1.00 0.00 26251 1.20 0.81 3 - - -

Punjab Modaraba 340 - 1.30 1.98 1.02 1.47 0.17 10002 2.54 0.50 1 - - -

Stand Chart Modaraba 454 4.75 9.75 10.15 9.70 9.70 -0.05 13105 10.29 8.51 17 - - -

Trust Modaraba 298 2.88 2.00 1.50 1.50 1.50 -0.50 3500 2.30 1.16 5 - - -

U D L Modaraba 264 1.77 6.30 6.25 6.20 6.22 -0.08 1000 6.55 5.30 12.5 - - -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

395.92 406.05 368.82 381.69 -14.23 -3.59

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

5,218,737 - - 30,336.44 mn 17,890.74 mn 411.21

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

11.66 0.25 0.91 99.56 3.64 381.69

AMZ Ventures 225 1.39 0.63 0.67 0.55 0.61 -0.02 12526 0.95 0.33 - - - -

Arif Habib Investments 360 4.49 21.83 22.92 21.40 22.79 0.96 148937 22.92 16.80 - 20B - -

Arif Habib Limited 450 12.14 25.00 25.15 23.75 23.79 -1.21 56432 28.00 23.75 - 20B - -

Arif Habib Corp 3750 4.41 24.95 25.25 23.71 24.00 -0.95 2682220 30.20 23.35 30 - - -

Dawood Cap Mangt. XB 150 1.43 1.41 1.70 1.21 1.60 0.19 761 2.14 1.15 - - - -

Dawood Equities 250 - 1.75 2.04 1.62 1.86 0.11 9006 2.75 1.28 - - - -

First National Equity 575 - 4.81 5.78 4.10 5.76 0.95 206 10.50 4.10 - - - -

IGI Investment Bank 2121 10.73 2.48 2.59 2.35 2.36 -0.12 1307 3.90 2.26 - - - -

Invest and Fin Sec 600 769.00 7.48 7.69 7.25 7.69 0.21 8045 8.98 6.22 11.5 - - -

Ist Cap Securities 3166 - 3.24 3.50 3.13 3.26 0.02 50866 3.95 2.95 - 10B - -

Ist Dawood Bank 626 0.61 1.79 1.83 1.70 1.70 -0.09 2002 2.14 1.05 - - - -

Jah Siddiq Co 7633 - 10.98 11.18 10.05 10.39 -0.59 4430675 14.05 10.05 10 - - -

JOV and CO 508 - 3.65 3.85 3.20 3.60 -0.05 175741 4.60 3.20 - - - -

JS Global Cap 500 6.92 26.25 26.49 25.45 25.76 -0.49 3282 32.00 25.00 - - - -

JS Investment 1000 26.63 6.70 6.83 6.32 6.39 -0.31 128745 7.59 6.20 - - - -

KASB Securities 1000 - 4.62 4.87 4.50 4.51 -0.11 99794 5.43 3.80 - - - -

Orix Leasing 821 4.54 6.25 6.45 5.91 6.18 -0.07 4632 7.29 5.70 - - - -

Pervez Ahmed Sec 775 - 1.90 1.96 1.81 1.86 -0.04 22593 2.50 1.81 - - - -

Security Leasing 363 - 1.50 1.50 1.50 1.50 0.00 186 2.95 1.01 - - - -

Stand Chart Leasing 978 4.79 2.65 2.70 2.30 2.30 -0.35 20010 3.00 2.21 - - - -

Trust Brokerage 100 - 3.90 4.40 3.75 3.89 -0.01 42840 4.40 1.42 - - - -

Trust Inv Bank 586 2.00 1.91 1.28 1.27 1.28 -0.63 137 2.70 1.24 - - - -

Paid up Last 60 days 2010 2011

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

728.76 741.89 721.57 734.27 5.52 0.76

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

17,680 - - 2,290.72 mn 8,646.71 mn 760.51

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

5.41 3.21 3.85 355.53 4.27 728.76

American Life 500 5.55 16.50 16.60 16.60 16.60 0.10 1000 19.85 16.03 - - - -

EFU Life Assurance 850 34.15 60.30 61.00 58.50 60.10 -0.20 16678 86.95 58.50 - - - -

Paid up Last 60 days 2010 2011

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,133.53 1,143.89 1,097.53 1,106.15 -27.38 -2.42

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

10,990,616 - - 257,548.02 mn 674,688.62 mn 1,175.27

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

8.00 1.12 13.94 40.49 5.06 1,106.15

Allied Bank Limited 7821 6.49 70.84 71.79 68.50 68.79 -2.05 206014 74.00 57.15 40 10B - -

Askari Bank 6427 7.61 16.49 16.83 15.90 15.98 -0.51 513630 19.25 15.55 - - - -

Bank Alfalah 13492 13.82 11.13 11.29 10.70 10.78 -0.35 899495 11.99 9.50 - - - -

Bank AL-Habib 7322 7.70 35.98 36.15 35.50 35.73 -0.25 90290 39.49 32.75 - - - -

Bank Of Khyber 5004 5.47 4.16 4.31 4.09 4.10 -0.06 30017 4.70 3.62 - - - -

Bank Of Punjab 5288 - 8.31 8.40 7.95 8.05 -0.26 2493120 10.59 7.95 - - - -

BankIslami Pak 5280 925.00 3.68 3.79 3.65 3.70 0.02 50461 4.50 3.00 - - - -

Faysal Bank 7327 4.43 14.11 14.50 13.50 13.74 -0.37 95158 17.05 13.50 - 20B - -

Habib Bank Ltd 10019 7.63 123.13 123.75 121.70 122.15 -0.98 112463 128.97 102.55 - - - -

Habib Metropolitan Bank 8732 7.65 25.46 25.69 24.90 25.00 -0.46 10903 29.28 20.66 - - - -

JS Bank Ltd 8150 - 2.62 2.85 2.56 2.64 0.02 776848 2.95 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.61 1.69 1.60 1.61 0.00 176107 2.80 1.49 - - - -

MCB Bank Ltd 7602 9.35 214.88 216.18 206.50 207.65 -7.23 1069551 250.48 199.00 85 10B - -

Meezan Bank 6983 9.60 18.83 18.80 18.15 18.15 -0.68 61402 20.30 14.80 - - - -

Mybank Ltd 5304 - 2.60 2.92 2.55 2.55 -0.05 139903 3.40 1.90 - - - -

National Bank 13455 6.47 75.71 76.10 73.61 74.13 -1.58 2157808 80.61 65.26 - - - -

NIB Bank 40437 - 2.72 2.77 2.60 2.62 -0.10 550750 3.35 2.60 - - - -

Samba Bank 14335 - 1.86 1.89 1.75 1.81 -0.05 89191 2.17 1.70 -63.46R - -

Silkbank Ltd 26716 - 2.47 2.52 2.39 2.43 -0.04 1042250 3.05 2.39 - - - -

Soneri Bank 6023 - 6.81 6.99 6.62 6.70 -0.11 17637 8.48 6.62 - - - -

Stand Chart Bank 38716 10.94 7.31 7.32 7.02 7.11 -0.20 13514 9.04 7.00 - - - -

Summit Bank Ltd XR 7251 - 3.59 3.73 3.35 3.46 -0.13 128819 4.63 2.74 - - - -

United Bank Ltd 12242 7.49 64.64 65.27 62.50 63.78 -0.86 394104 70.65 57.51 10 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

773.02 783.60 747.74 758.48 -14.54 -1.88

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

991,719 - - 11,111.34 mn 47,248.90 mn 799.80

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

12.57 0.65 5.20 79.54 6.33 758.48

Adamjee Insurance 1237 24.48 88.75 89.45 84.32 84.45 -4.30 457395 96.40 78.53 10 - - -

Paid up Last 60 days 2010 2011

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,648.83 1,680.69 1,581.49 1,597.66 -51.17 -3.10

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

4,256,825 - - 12,202.80 mn 35,173.35 mn 1,700.89

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

10.28 1.17 11.41 66.79 6.50 1,597.66

Sui North Gas 5491 7.31 25.55 25.83 24.30 24.56 -0.99 293182 33.40 24.30 20 - - -Sui South Gas 8390 3.89 26.47 27.20 25.60 25.85 -0.62 3963643 27.90 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,306.88 1,322.34 1,268.04 1,282.44 -24.44 -1.87

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

10,757,069 - - 95,369.29 mn 105,326.96 mn 1,350.84

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

13.84 1.29 9.35 104.13 7.52 1,282.44

Genertech 198 - 0.76 0.80 0.65 0.66 -0.10 54602 1.18 0.65 - - - -Hub Power 11572 6.80 37.83 38.24 36.70 37.11 -0.72 2681735 41.20 34.16 50 - - -Japan Power 1560 - 1.60 1.70 1.51 1.57 -0.03 176345 2.15 1.50 - - - -KESC 7932 - 2.79 2.85 2.65 2.70 -0.09 484042 3.55 2.15 - 7.8R - -Kohinoor Energy 1695 9.84 17.83 18.70 17.70 17.71 -0.12 609 22.85 17.25 15 - - -Kohinoor Power 126 2.74 4.15 4.65 4.10 4.50 0.35 502 5.39 3.85 - - - -Kot Addu Power 8803 5.04 42.33 42.50 41.11 41.49 -0.84 310308 45.85 39.00 50 - - -Nishat Chunian Power Ltd 3673 3.55 16.22 16.45 15.98 16.20 -0.02 991833 18.01 13.32 - - - -Nishat Power Ltd 3541 2.45 17.28 17.60 16.50 16.79 -0.49 5766814 18.70 14.25 - - - -Sitara Energy Ltd 191 3.27 18.00 18.40 17.51 17.52 -0.48 17056 19.35 16.50 20 - - -Southern Electric 1367 - 2.03 2.08 1.90 2.01 -0.02 273213 2.80 1.90 - - - -

Paid up Last 60 days 2010 2011

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,094.87 1,107.69 1,051.96 1,062.26 -32.61 -2.98

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

2,610,605 - - 50,077.79 mn 73,287.89 mn 1,114.61

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

5.74 0.74 12.84 62.56 10.91 1,062.26

Pak Datacom 78 4.85 78.50 78.50 78.49 78.50 0.00 251 82.99 76.50 80 - - -

Pakistan Telecomm Co A 37740 11.97 18.52 18.72 17.80 17.95 -0.57 1765829 20.65 17.80 17.5 - - -

Telecard 3000 0.61 2.15 2.18 2.01 2.06 -0.09 276576 2.67 2.01 1 - - -

WorldCall Tele 8606 - 2.62 2.69 2.51 2.57 -0.05 567949 3.45 2.51 - - - -

Wateen Telecom Ltd 6175 - 3.60 3.68 3.36 3.40 -0.20 486519 4.65 3.36 - - - -

Paid up Last 60 days 2010 2011

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

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

Ask Gen Insurance 204 6.27 10.25 10.50 10.34 10.34 0.09 2366 12.75 10.00 - 25R - -

Atlas Insurance 369 5.98 37.11 37.88 36.51 37.59 0.48 6226 40.00 34.00 - - - -

Central Insurance XB 279 7.67 70.50 67.51 67.50 67.51 -2.99 1549 83.00 56.01 10 10B - -

Century Insurance 457 5.99 10.11 10.78 9.50 9.58 -0.53 24959 11.99 9.50 - - - -

EFU General Insurance 1250 - 38.92 39.50 37.50 38.65 -0.27 18434 47.90 37.50 - - - -

Habib Insurance 400 3.10 13.20 13.00 13.00 13.00 -0.20 2000 15.50 11.01 - - - -

IGI Insurance 718 8.32 92.20 96.81 92.50 96.81 4.61 54204 99.88 81.10 30 55B - -

New Jub Insurance 791 15.85 58.00 58.98 57.55 58.81 0.81 2065 61.80 55.10 - - - -

Pak Reinsurance 3000 42.87 17.35 17.65 16.50 16.72 -0.63 394524 19.40 15.49 - - - -

PICIC Ins Ltd 350 - 9.00 8.99 8.99 8.99 -0.01 1000 10.75 6.00 - - - -

Premier Insurance 303 5.99 11.10 11.08 11.00 11.08 -0.02 5500 12.93 9.60 - - - -

Reliance Insurance XB 252 4.23 6.61 7.00 6.83 6.90 0.29 11486 7.10 6.40 - - - -

Shaheen Insurance XR 200 - 11.40 11.00 10.41 10.41 -0.99 1002 14.50 10.05 - - - 25R

Silver Star Insurance 253 4.17 6.81 7.13 6.66 6.71 -0.10 6005 8.20 6.01 - - - -

United Insurance XB 400 2.30 7.00 7.00 7.00 7.00 0.00 2000 7.80 5.00 - - - -

Universal Insurance 263 - 2.80 3.00 2.62 2.70 -0.10 1003 4.00 1.68 - - - -

UPTO 100 VOLUME

FANM 3.10 3.00 3.00 3.00 -0.10 100

SHFA 31.90 33.30 33.30 33.30 1.40 100

SNAI 42.89 41.25 41.25 41.25 -1.64 100

FFLM 1.60 2.00 1.46 2.00 0.40 86

GLPL 55.51 55.99 55.99 55.99 0.48 84

HINO 128.00 129.75 121.80 128.00 0.00 78

STPL 9.30 9.39 8.93 9.00 -0.30 62

CHAS 9.65 9.65 9.65 9.65 0.00 60

IDYM 292.14 302.00 283.90 300.00 7.86 55

RMPL 2890.30 2899.95 2746.00 2873.23 -17.07 54

SIEM 1069.89 1095.90 1035.99 1095.90 26.01 53

PNGRS 3.80 4.47 4.00 4.47 0.67 51

SEARL 60.10 60.99 60.00 60.00 -0.10 51

ILTM 121.54 127.61 127.61 127.61 6.07 50

NESTLE 3410.15 3580.00 3351.01 3351.10 -59.05 43

SRSM 3.65 4.13 3.44 4.04 0.39 38

BAPL 7.80 8.40 8.35 8.40 0.60 29

CJPL 1.03 1.16 0.53 0.99 -0.04 29

ZTL 3.41 4.09 2.60 2.60 -0.81 22

KOSM 1.00 1.47 1.25 1.25 0.25 21

RCML 41.02 42.50 42.00 42.00 0.98 21

AGSML 5.50 6.50 5.51 5.51 0.01 20

SANE 5.00 5.75 4.00 4.88 -0.12 20

SAIF 5.97 6.14 6.00 6.04 0.07 18

HUSI 6.23 7.00 5.95 6.39 0.16 17

CWSM 1.35 2.00 1.55 1.95 0.60 15

ICCT 1.31 1.84 0.65 1.49 0.18 13

UPFL 1276.51 1340.33 1340.00 1340.32 63.81 13

ICIBL 0.60 0.62 0.58 0.58 -0.02 12

TSMF 1.34 1.29 1.29 1.29 -0.05 10

TSPL 0.93 1.00 1.00 1.00 0.07 10

CSM 0.62 0.74 0.53 0.66 0.04 8

FIBLM 1.57 2.44 1.50 1.62 0.05 8

FZCM 54.28 56.95 51.60 52.49 -1.79 6

IDSM 8.15 9.15 7.15 8.10 -0.05 6

KSBP 61.90 61.78 59.50 60.60 -1.30 6

DWAE 1.20 1.37 1.04 1.04 -0.16 4

DATM 0.45 0.84 0.80 0.84 0.39 3

FRCL 2.00 2.95 1.80 2.93 0.93 3

PECO 136.13 141.48 138.00 138.00 1.87 3

PTEC 2.00 2.68 2.00 2.68 0.68 3

COLG 900.00 945.00 900.00 900.00 0.00 2

DIIL 10.88 10.11 10.02 10.11 -0.77 2

ELSM 21.85 22.45 22.45 22.45 0.60 2

JOPP 12.00 13.00 12.00 12.50 0.50 2

LAKST 250.51 262.99 240.01 240.01 -10.50 2

PMRS 41.85 43.94 41.00 43.94 2.09 2

AASM 25.80 24.52 24.52 24.52 -1.28 1

BCL 44.30 46.15 46.15 46.15 1.85 1

BROT 0.52 0.89 0.89 0.89 0.37 1

BWHL 33.90 35.59 35.59 35.59 1.69 1

CSIL 4.09 4.43 4.30 4.30 0.21 1

ESBL 2.39 2.70 2.39 2.39 0.00 1

EWLA 2.11 1.61 1.61 1.61 -0.50 1

FTSM 1.23 1.45 1.45 1.45 0.22 1

GATI 46.98 49.00 49.00 49.00 2.02 1

GRYL 2.21 2.10 2.10 2.10 -0.11 1

HMIM 0.85 0.95 0.95 0.95 0.10 1

KOHS 3.82 3.21 3.21 3.21 -0.61 1

LPGL 11.06 10.15 10.15 10.15 -0.91 1

MFFL 75.91 72.12 72.12 72.12 -3.79 1

MIRKS 49.00 50.49 50.49 50.49 1.49 1

NJLIC 40.00 42.00 41.90 41.90 1.90 1

PICTPS 8.05 7.06 7.06 7.06 -0.99 1

TICL 59.27 56.50 56.50 56.50 -2.77 1

YOUW 1.49 1.45 1.45 1.45 -0.04 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

ANL-FEB 10.96 11.15 10.10 10.38 -0.58 719500

DGKC-FEB 28.45 28.80 27.03 27.09 -1.36 707000

FFBL-FEB 41.45 41.86 40.81 41.03 -0.42 587000

POL-FEB 320.69 321.50 310.75 312.38 -8.31 468000

ENGRO-FEB 214.68 216.00 209.20 211.24 -3.44 440500

NML-FEB 65.35 65.80 62.80 64.00 -1.35 413500

NBP-FEB 76.07 76.40 74.05 74.51 -1.56 325000

MCB-FEB 216.68 217.00 207.75 208.81 -7.87 275000

PSO-FEB 281.64 283.20 271.00 274.74 -6.90 267000

FFC-FEBB 119.93 121.22 117.60 118.34 -1.59 260000

POL-FEBB 312.81 313.49 302.00 304.31 -8.50 239500

FFC-FEB 151.15 152.80 148.80 149.45 -1.70 238000

NETSOL-FEB 24.26 24.30 23.05 23.07 -1.19 165000

LUCK-FEB 69.65 69.30 66.60 67.85 -1.80 144500

PPL-FEB 210.99 212.25 203.15 205.55 -5.44 100000

PTC-FEB 18.75 18.50 18.00 18.03 -0.72 95000

NCL-FEB 25.56 26.21 25.25 25.43 -0.13 84000

OGDC-FEB 169.45 169.30 165.90 166.08 -3.37 67500

AICL-FEB 89.11 89.50 84.66 84.89 -4.22 64000

BOP-FEB 8.38 8.45 8.00 8.06 -0.32 50500

UBL-FEB 64.84 66.00 63.00 63.75 -1.09 20000

HUBC-FEB 38.00 38.00 38.00 38.00 0.00 9000

AICL-CAPR 91.98 0.00 0.00 87.50 -4.48 0.00

AICL-CFEB 89.34 0.00 0.00 84.97 -4.37 0.00

AICL-CFEBW288.75 0.00 0.00 84.41 -4.34 0.00

AICL-CMAR 90.51 0.00 0.00 86.10 -4.41 0.00

Symbols Open High Low Close Change Vol

ZERO VOLUME

GVGL 23.40 23.50 23.50 23.50 0.10 0.00

NAGC 16.45 16.24 16.24 16.24 -0.21 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 36.92 2.75 2.65 3.00 3.20 2.90

Allied Bank Limited 43.17 67.60 66.40 70.90 73.00 69.70

Attock Cement 10.74 48.90 47.40 52.15 53.90 50.65

Arif Habib Corp 37.01 23.40 22.80 24.95 25.85 24.30

Arif Habib Limited 30.38 23.30 22.85 24.70 25.65 24.25

Adamjee Insurance 35.96 82.70 80.95 87.80 91.20 86.05

Askari Bank 31.17 15.65 15.30 16.60 17.15 16.25

Azgard Nine 42.77 9.90 9.50 10.90 11.55 10.50

Attock Petroleum 46.24 362.55 356.35 377.50 386.20 371.30

Attock Refinery 32.09 111.55 109.00 118.20 122.35 115.70

Bank Al-Falah 39.86 10.55 10.35 11.15 11.50 10.90

BankIslami Pak 43.83 3.65 3.55 3.75 3.85 3.70

Bank.Of.Punjab 29.63 7.85 7.70 8.30 8.60 8.15

Dewan Cement 41.41 1.75 1.65 2.10 2.30 2.00

D G K Cement 30.52 26.40 25.85 28.10 29.20 27.50

Dewan Salman 49.08 2.80 2.65 3.20 3.40 3.05

Dost Steels Ltd 31.68 2.30 2.25 2.45 2.55 2.40

EFU General Insurance 36.44 37.60 36.55 39.60 40.55 38.55

EFU Life Assurance 21.42 58.75 57.35 61.25 62.35 59.85

Engro Chemical 49.25 206.95 203.80 214.35 218.60 211.20

Faysal Bank 34.30 13.30 12.90 14.30 14.90 13.90

Fauji Cement 30.37 4.40 4.30 4.60 4.75 4.55

Fauji Fert Bin 55.21 40.35 39.80 41.55 42.20 41.00

Fauji Fertilizer 59.36 147.60 145.95 151.90 154.50 150.25

Habib Bank Ltd 47.32 121.30 120.50 123.35 124.60 122.55

Hub Power 41.46 36.45 35.80 38.00 38.90 37.35

ICI Pakistan 47.57 144.15 142.55 148.25 150.75 146.65

Indus Motors 57.52 288.15 287.35 289.90 290.85 289.10

J O Vand CO 40.22 3.25 2.90 3.90 4.20 3.55

Japan Power 42.10 1.50 1.40 1.65 1.80 1.60

JS Bank Ltd 57.86 2.50 2.40 2.80 2.95 2.70

Jah Siddiq Co 44.21 9.90 9.40 11.05 11.65 10.55

Kot Addu Power 39.27 40.90 40.30 42.30 43.10 41.70

K E S C 44.00 2.60 2.55 2.80 2.95 2.75

Lotte Pakistan 57.60 15.65 15.40 16.35 16.70 16.05

Lucky Cement 30.82 66.00 64.35 69.30 70.95 67.65

MCB Bank Ltd 29.74 204.05 200.45 213.70 219.80 210.10

Maple Leaf Cement 35.63 2.50 2.40 2.65 2.75 2.60

National Bank 38.81 73.10 72.10 75.60 77.10 74.60

Nishat (Chunian) 62.44 24.85 24.25 26.20 27.00 25.60

Netsol Technologies 45.26 22.50 22.00 24.00 25.00 23.50

NIB Bank 33.85 2.55 2.50 2.70 2.85 2.65

Nimir Ind.Chemical 59.49 2.35 2.15 2.75 3.00 2.60

Nishat Mills 42.36 62.35 60.80 65.70 67.45 64.15

Oil & Gas Dev. XD 34.81 164.40 161.95 169.90 172.95 167.45

PACE (Pakistan) Ltd. 53.17 3.00 2.90 3.15 3.25 3.05

Pervez Ahmed Sec 39.91 1.80 1.75 1.95 2.05 1.90

P I A C (A) 51.13 2.40 2.30 2.70 2.85 2.60

Pioneer Cement 34.36 6.00 5.75 6.60 6.95 6.35

Pak Oilfields 40.03 307.95 303.60 319.20 326.10 314.85

Pak Petroleum 36.01 201.20 197.40 210.10 215.15 206.30

Pak Suzuki 31.95 61.55 60.35 64.95 67.10 63.75

P S O XD 30.50 266.85 260.20 281.25 289.05 274.65

P T C L A 29.64 17.60 17.25 18.50 19.10 18.15

Shell Pakistan 44.25 203.85 200.40 212.85 218.40 209.40

Sui North Gas 28.87 23.95 23.35 25.50 26.45 24.90

Sitara Peroxide 52.52 13.30 13.05 14.00 14.45 13.75

Sui South Gas 66.47 25.25 24.60 26.85 27.80 26.20

Telecard 40.64 2.00 1.90 2.15 2.25 2.10

TRG Pakistan 38.19 3.00 2.95 3.20 3.25 3.10

United Bank Ltd 36.67 62.45 61.10 65.20 66.60 63.85

WorldCall Tele 39.95 2.50 2.40 2.65 2.75 2.60

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Pakistan PVC Limited 12-Feb 9:30

Tri-Pack Films Ltd 12-Feb 11:00

First Prudential Modaraba 12-Feb 11:30

Al-Ghazi Tractors Limited 14-Feb 3:00

Rafhan Maize Products Com Ltd 14-Feb 11:30

Nestle Pakistan Limited 14-Feb 9:30

Central Forest Products Ltd 14-Feb 10:00

Sitara Chemical Industries Ltd 14-Feb 11:00

Pakistan Paper Products Ltd 14-Feb 11:30

UniLever Pakistan Limited 14-Feb 2:30

Engro Corporation Limited 14-Feb 9:30

Pakistan Refinery Ltd 14-Feb 10:30

Otsuka Pakistan Limited 15-Feb 10:30

Kohinoor Energy Limited 15-Feb 12:00

JS Investments Limited 15-Feb 10:30

JS Growth Fund 15-Feb 10:30

Goodluck Industries Ltd 15-Feb 11:00

Kot Addu Power Company Ltd 16-Feb 12:30

ICI Pakistan Limited 16-Feb 9:30

UniLever Pakistan Foods Ltd 17-Feb 2:30

BOARD MEETINGS

Company Date Time

Saturday, February 12, 2011 8

Now Beboto dancefor Ekta

Actress Kareena Kapoor willreportedly perform at theGlobal Indian Film andTelevision Honours (GIFTH)to be hosted by Balaji telefilmsSaturday.

Kareena is close to EktaKapoor, creative and manag-ing director of BalajiTelevision, and her actorbrother Tusshar, said a source.

"Ekta was of the opinion thatthe event would be incompletewithout Kareena's perform-ance. They are delighted tohave her on board, " the sourcetold.

In spite of her busy scheduleKareena is rehearsing for herperformance at the event.

Deepika toperform in“dum maro

dum”2010 was proved as a year of

Malaika Arora’s song “MunniBadnaam hue” and Katrina’ssong “Sheela ki jawani” but in

2011, Deepika Padukone’ssong “dum maro dum” may hitthe record.

In the upcoming film “Dummaro dum”, DeepikaPadukone will be performingan item song. It will be the firstitem number of Deepika. Film“dum maro dum” has abhishekand bipasha in the lead role.The song will be a promotion-al number and Deepika saysthat her song will be morefavourit than Munni andSheela.

Music albummarks Faiz’s100th birthday

A music album of FaizAhmad Faiz’s poetry by TinaSani and Shabana Azmi waslaunched at a local hotel.

Faiz Foundation Trust pro-duced the album for the occa-sion of the writer’s 100 birth-day celebrations. FaizFoundation Trust ChairpersonSalima Hashmi, HRCPDirector IA Rahman, Indianactress Lubna Salim and manyother foreign artists were pres-ent at the launch ceremony.

Tina Sani also sang some ofFaiz’s poetry at the event,which was highly praised bythe audience. The attendees, atthe end, were each given acopy of the music album as asouvenir.

Sanjay Dutt topen his

autobiographyBollywood actor Sanjay

Dutt is all set to pen down isautobiography. He is presentlyin search of a writer who canhelp him to pen it down.

Sanjay Dutt is presentlyshooting in Bangkok forDavid Dhawan’s upcomingfilm “Rascals”. Sanjay told“Yes, there was an offer butthe terms and conditions did-n’t suit me.” “I do want towrite my autobiography. ButI need to devote time to it andI’m having a busy phase inmy career. I will definitely goahead with it when I findsomeone to help me write it.I’m sure it will happensoon.”

Acatwalk of celebritieskicked off New YorkFashion Week on

Wednesday night, getting theaudience all pumped up for theRed Dress runway show,which draws attention to anational awareness campaignabout women and heart dis-ease.

Denise Richards did the '70slook in a halter-top, empire-waist dress by MatthewWilliamson, while '70s pinupSuzanne Somers went for aflared minidress with a jeweledwaist by Ina Soltani.

Matthew McConaugheycheered on girlfriend CamilaAlves in her sexy, tiny-strapasymmetrical gown byKaufmanFranco, snappingphotos the whole showthrough, and Susan Sarandonlet her daughter, Eva Amurri,soak up the spotlight in herhigh-neck lace dress by ChrisBenz.

Sarandon, dressed in anunassuming pink polo shirt andhair pulled back, quietly tookher front-row seat just a fewminutes before the showbegan.

No one strutted quite likeactress Taraji P. Henson, in aNaeem Khan-designed beadeddress with a high slit, whomilked her moment with thecrowd, singing MichaelJackson's "The Way You MakeMe Feel." OK, maybe Dita vonTeese, wearing a Zac Posennumber that emphasized her

hourglass shape, one-uppedher in the hip-swinging depart-ment.

Pop singer NatashaBedingfield performed at theend of her turn, but one couldhave forgotten her day job asshe wore a deep V halter dressby Nicole Miller.

Patti LaBelle hammed it upin her kimono-style dress byZang Toi, and Linda Gray worea Pamella Roland off-the-shoulder gown. KatrinaBowden went short in aflounce-front Oscar de laRenta.

Julianne Hough's redSwarovski dress played intothe heart-health theme with itssweetheart neckline and hernecklace with crystals shapedinto hearts.

By fashion standards,Alberta Ferretti's eyelash pleatdress on TV personality CatDeeley and MoniqueLhuillier's rose-covered ball-gown, modeled by GarcelleBeauvais, were standouts.

The Red Dress show hasbecome an annual event inFebruary at Mercedes-BenzFashion Week, which officiallykicks off Thursday for eightdays of previews for the fallseason.

Some designers are furthersupporting the national heartdisease campaign, sponsoredby The National Heart, Lungand Blood Institute, by auc-tioning dresses through theClothes Off Our Back website.

Celebrities warmup the crowd forNY Fashion week

Arnoldreturns

to movies

Arnold Schwarzeneggeris changing his famouscatch-phrase to "I'm

back" from "I'll be back."The former governor of

California said on Thursdaythat he was returning to his for-mer role as a Hollywood actionhero.

"Exciting news," he wrote on

Twitter. "My friends at CAA(Creative Artists Agency, histalent firm) have been askingme for 7 years when they cantake offers seriously. Gavethem the green light today."

The 63-year-old actor's twoterms as governor of America'smost populous state ended lastmonth, leading to much specu-lation as to whether he wouldupgrade to national politicaloffice or return to the silverscreen.

In between failed efforts toplug a state deficit now peggedat about $25 billion,Schwarzenegger took time tomake a few movie cameos,most recently as a mercenaryleader in pal SylvesterStallone's hit action thriller"The Expendables."

His movie career had been onthe wane before he announceda surprise bid for the governor-ship in 2003, running as a mod-erate Republican.

Going against Salman'swishes is not an ideaworth pursuing. The

same lessons are being learntby none other than SalmanKhan's younger brotherArbaaz Khan.

According to sources,

Salman is miffed with Arbaazfor trying to broker peacebetween him and SRK. Theissue has reached a pointwhere Sallu has told Arbaaz inno uncertain terms to avoidplaying such a role.

In the past Arbaaz has beenfriendly with SRK despite thefact that SRK and Sallu'schemistry is going through itscoldest phase. But, nowSalman is keeping a close

watch on any attempts thatmight end his arch rivalry. Heis no mood to let go so soon.

Sources further add, "Thefact that Salman does not for-give his enemies has becomeone of his brand features. It isvery difficult for him to go

against the same since it issomething that defines him.His fresh diktat to Arbaaz hasto be seen in that light. Look atwhat he did to Vivek Oberoi.He is trying to repeat it in caseof his cold bond with SRK."

While Bollywood and itsbrawls would not stop fromtaking place, but this one is thebaap of all as it involves twobiggest stars who happen to bearch rivals.

Salman issuesdiktat to Arbaaz

Popular Bollywood starKatrina Kaif launched anonline dance talent con-

test "Next Stop Bollywood" inNew Delhi.

Former model Kaif has fea-tured in some of Bollywood'smost glamorous chart toppingdance numbers, including thecurrent hit "Shiela ki Jawani"from her latest movie "TessMaar Khan."

"Even when I watched'Sheila ki jawani' for the firsttime, the first thing that I did toFarah (director Farah Khan)was to point five things that Ifelt that I should have donebetter. So, I don't think that Iam ever satisfied with any-thing I do, I always...I learnfrom every experience I try tolearn from every experience,every type of dance, everysong that I get...try to do some-thing new and try to see whereI can do better. So, I don't

know if I will consider myselfa great dancer but I definitelylove dancing," she toldreporters.

Kaif said that she was look-ing forward to connecting withher fans and aspiring dancersthrough the competition.

The online contest will berun through a Facebook appli-cation where the contestantscan upload and share theirdance videos for public voting.

Videos with the most voteswill make a shortlist of ten.Kaif will then announce thethree top finalists and the win-ner.

The star made headlinesrecently when she was investi-gated by tax authorities in con-nection with alleged tax eva-sion. On 24 January, tax offi-cials raided the homes andoffices of Kaif and another topBollywood actor, PriyankaChopra.

"I think that the IT (Incometax) department is only doingtheir job and I have the highestregard for them and I don'tknow if you saw today in theTimes Of India (newspaper)the article has come kind ofstating I have been given aclean chit so to speak. So Ithink it's OK, I think it's fine,everyone is just doing their joband I mean there is no...I amkind of very calm about thewhole thing," she said.

Kaif started her movie careerwith London-based filmmakerKaizad Gustad's film "Boom."

Among her successfulmovies since are "NamasteyLondon," "Race," "NewYork," "Ajab Prem Ki GhazabKahani" and the recent "TeesMaar Khan."

Kaif is the brand ambassadorfor Etihad Airways, the nation-al carrier of the UAE, who arebehind the online venture

Bollywood star launchesonline dance talent contest

Berlin filmfestival

opens withTrue Grit

The 2011 Berlin filmfestival opens onThursday with Oscars

darling "True Grit" kickingoff the 10-day cinema show-case, where hundreds ofmovies vie for the attentionof the world's media andindustry buyers.

The Coen brothers' Westernremake is already out inNorth America and so is noteligible for prizes at the clos-ing ceremony on Feb. 19, butit should ensure Hollywoodglamour on the red carpet atBerlin's glitzy opening cere-mony.

The story of a young girl'squest to track down herfather's killer, starring JeffBridges, Hailee Steinfeld,Matt Damon and Josh Brolin,has garnered 10 AcademyAward nominations, secondonly to "The King's Speech".

The 61st Berlin festivalboasts its trademark mix offamiliar faces and up-and-coming film makers, and, asusual, real world concerns arenever far from the surface.

The spotlight on Thursdayis likely to fall on the absentJafar Panahi, the Iraniandirector who was invited tobe on the jury but who wassentenced in December to sixyears in prison.

Panahi, whose film"Offside" won the festival'sSilver Bear award in 2006,has been banned from makingfilms or travelling abroad for20 years. "His conviction vio-lates the right to freedom ofexpression and the freedomof art," the festival said.

MUMBAI: Bollywood director Karan Johara attends the book launch of 'The Dialogue of Pyaasa'

-a classic Indian movie directed in 1957 by Guru Dutt- in Mumbai

MUMBAI: Indian actress Priyanka Chopra and Shah Rukh Khan appear on the set of 'Zor Ka

Jhatka' to promote the forthcoming Hindi film '7 Khoon Maaf' in Mumbai.

NEW DELHI: A model displays a creation by Indian Designer

Ashish Viral and Vikrant during the Wills Lifestyle India

Fashion Week-Spring Summer 2011.

KUALA LUMPUR:Malaysian palm oil futuresrose 0.7 per cent on Friday onconcerns that earlier floods andrains could further weakenyields at a time of strongdemand despite prices loggingtheir weakest weekly gain intwo weeks.

Traders expect continuedtightening in vegetable oil sup-plies on strong export demandfrom China and a possible shiftin US farming acreage thisyear to more lucrative cornfrom soybeans, an oilseedcrushed into competing soyoil.

"For Malaysia, the stockdraw will be more pronouncedin February, as China will haveto replenish after the LunarNew Year holiday and its amuch shorter month for har-vesting from oil palms," said atrader with a foreign broker-

age. The benchmark Aprilcrude palm oil contract on theBursa Malaysia DerivativesExchange rose 29 ringgit to3,955 ringgit ($1,299). Theprevious day, the market hit3,967 ringgit, a level notreached since March 2008.

Overall volumes more thandoubled to 22,982 lots at 25tonnes each, compared to theusual 15,000 lots.

The supply-demand scenariofor palm oil remains bullish.Cargo surveyors reported morethan 40 per cent jump inMalaysia's palm oil exports inFeb 1-10 versus the same peri-

od a month ago. The Malaysian Palm Oil Board

reported on Tuesday of fallingproduction as floods and rainsdisrupted deliveries and stalledharvesting, cutting Januarystocks to a six-month low.

The most active Septembersoyoil contract on China'sDalian Commodity Exchangefell 0.5 per cent, with sellingpressure coming from the gov-ernment making plans to offer100,000 tonnes of rapeseed oilin its regular sale next week.

US soyoil for March deliveryrose 0.5 per cent in Asian trade.-Reuters

Palm oil perks up ontight supply woes

LONDON: Copper turnedpositive on Friday after HosniMubarak stepped down asEgypt's president, as a resolu-tion of the country's politicalcrisis boosted investors' riskappetite, but concerns aboutChinese demand capped gains.

Copper for three-monthsdelivery on the London MetalExchange ended at $9,961 atonne from a close of $9,951on Thursday.

"Copper sold off early todayon concerns over the situationin Egypt but then news thatMubarak left Cairo andstepped down pushed pricesup," MF Global energy andmetals analyst Edward Meirsaid.

"There are concerns thathigher interest rates will soonbe coming," RBS global headof commodity and strategyNick Moore said. "People wereexpecting that the Chinese

would come back from theNew Year holiday with a vora-cious appetite but theyhaven't."

Copper struck a record highof $10,160 a tonne on Monday

on the back of concerns aboutsupply, as well as improvingeconomic data that bode wellfor demand.

Tin earlier struck a recordhigh of $31,800 a tonne. It fin-ished at $31,775 from $31,500at Thursday's close.

"If you take a view for thenext few months, sentiment isstill very positive," Daniel

Briesemann, an analyst atCommerzbank, said of copper."The major driver is supplyconstraints...," he said "...withtin as well."

Stocks of copper in LMEwarehouses fell 225 tonnes to396,725 tonnes, but a recenttrend of rising stocks has raisedsome concerns about thedemand outlook.

Underscoring these worries,Shanghai copper stocks rosenearly 10,000 tonnes to144,197 tonnes. Aluminiumfinished at $2,496 a tonne from$2,537.

Stocks of the metal used intransport and packaging fell2,325 tonnes but were just41,300 tonnes off a record highof 4,640,750 tonnes hit on Jan.20, 2010.

Stainless steel material nick-el finished at $28,325 from aclose of $27,875 a tonne. -Reuters

Copper rises afterMubarak’s surrender

9Saturday, February 12, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1250

January (3rd Wednesday) 1310 1255

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for February 10 2011

LME Official Prices, US$ per tonne for February 10 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2335 2503 9875 2505 28005 31200 2401 2495

Cash seller 2355 2503.5 9875.5 2505.5 28010 31250 2402 2505

3-months buyer 2300 2525 9864.5 2484.5 28020 31250 2422 2510

3-months seller 2320 2525.5 9865 2485 28025 31300 2422.5 2520

15-months buyer 2255 2590 9660 2435 26855 30830 2440 2555

15-months seller 2265 2595 9670 2440 26955 30880 2445 2565

27-months buyer 2255 2633 9255 2388 25575 2425 2610

27-months seller 2265 2638 9265 2393 25675 2430 2620

LONDON METAL EXCHANGE (METALS)

LONDON: Brent oil pricesrose above $101 a barrel onFriday after Egypt's PresidentHosni Mubarak refused to stepdown, but later pared gains as astronger dollar sapped buyinginterest for commodities.

A US official said hebelieved that Mubarak has leftCairo and arrived at theEgyptian resort of Sharm el-Sheikh as angry protestorsmarched on the presidentialpalace.

ICE Brent crude futures roseby 62 cents to $101.49 a barrelby 1545 GMT while US crudefutures were down 33 cents at$86.40 a barrel. Brent toucheda day's peak of $102.03.

This left the spread betweenthe two benchmarks at around$15 a barrel, but down from arecord high above $16 in theprevious session.

Analysts at Commerzbanksaid that prices, especiallyBrent, contained a risk premi-um because of the unrest inEgypt. Egypt is not a major oilproducer and it consumesabout as much as it pumps.However, investors worrymore about the prospect of sev-ered oil flows along a strategicpipeline and the Suez Canal,which together amount toaround 2.5 million barrels per

day (bpd) of crude oil.Traders are expected to

watch closely for any sign thatprotests in oil producingnations Iran and Algeriaplanned for the next weekcould develop into broaderpopular movements resem-bling those in Egypt.

Trading has been unusuallyvolatile in the past two tradingsessions as investors havegrappled with the significanceof conflicting geopolitical sig-nals in the Arab world.

A market rumour that KingAbdullah of top oil producerSaudi Arabia was seriously ill ormay even have died stoked arally on ICE Brent futures butprices quickly pared gains afterSaudi sources dismissed the talk.

Many analysts expect pricesto remain volatile.

Oil prices have largelyignored news that theOrganization of PetroleumExporting Countries has boost-ed oil output to a two-year highto help cool the price rallyabove $100 a barrel.

In its monthly report, theproducer organisation said onThursday its January produc-tion rose by 400,000 bpd to29.72 million bpd, the highestsince December 2008 when itlast made an official change in

its output."Fundamental data is not

prevailing in the market...it isonly creating backgroundnoise. It's more about the senti-ment in the market," saidWeinberg.-Reuters

Brent rises above $101as Mubarak hangs on

Europeanvegetable oil

pricesROTTERDAM: The follow-ing were the Friday'sRotterdam vegetable oil price'sat 22:00 PST.

RAPEOIL: Dutch/EU eurotonne fob exmill May11/Jul111040.00+5.00, Aug11/Oct111015.00+5.00, Nov11/Jan121020.00+2.00, Feb12/Apr121025.00+0.00.

SUNOIL: EU dlrs tonneextank six ports optionApr11/Jun11 1485.00+5.00,Jul11/Sep11 1495.00+0.00,Oct11/Dec11 1425.00-10.00.

LINOIL: Any origin dlrstonne extank RotterdamFeb11/Mar11 1567.50-15.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Feb111322.50-2.50, Mar11 1320.00-5.00, Apr11/Jun111315.00+2.50, Jul11/Sep111287.50-2.50.

PALMOIL: RBD dlrs tonnecif Rotterdam Feb11 1395.00,Mar11 1387.50, Apr11/Jun111355.00.

PALMOIL: RBD dlrs tonnefob Malaysia Feb11 1340.00,Mar11 1332.50+10.00,Apr11/Jun11 1300.00+5.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Feb111347.50+7.50, Mar111340.00+10.00, Apr11/Jun111307.50+2.50, Jul11/Sep111267.50+0.00.

PALM STEARIN: Dlrs tonnefob Malaysia Mar111290.00+5.00.

PALM FATTY ACID DIS-TILLATE: Dlrs tonne fobMalaysia Feb11 1030.00+5.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamFeb11/Mar11 2320.00+20.00,Mar11/Apr11 2300.00+20.00,Apr11/May11 2280.00+20.00.-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

11-Feb-2011 CRUDE100 MA11 US$ Per Barrel 86.25 87.87 86.15 87.16 735 87.59 87.16 137

11-Feb-2011 CRUDE100 AP11 US$ Per Barrel 89.64 90.90 89.62 90.47 87 90.75 90.47 40

11-Feb-2011 CRUDE100 MY11 US$ Per Barrel 92.96 93.40 92.96 93.40 - 93.54 93.40 3

11-Feb-2011 SILVER - SL500 MA11 US$ Per Troy Ounce 29.79 30.27 29.77 30.08 150 30.10 30.08 59

11-Feb-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 29.20 30.08 29.20 30.08 1 30.10 30.08 1

11-Feb-2011 GOLD 01oz MA11 US$ Per Troy Ounce 1357.00 1366.10 1351.70 1362.50 1,278 1364.80 1362.50 1,347

11-Feb-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1358.00 1366.30 1352.00 1362.80 1,838 1365.10 1362.80 1,602

11-Feb-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1357.50 1367.10 1352.50 1363.50 1,517 1365.80 1363.50 1,025

11-Feb-2011 GOLD 100oz MA11 US$ Per Troy Ounce 1357.90 1362.50 1357.90 1362.50 - 1364.80 1362.50 -

11-Feb-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1356.80 1364.10 1353.00 1362.80 47 1365.10 1362.80 7

11-Feb-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1359.10 1362.80 1359.10 1362.80 - 1365.80 1363.50 -

11-Feb-2011 GOLD FE11 Per 10 grms 37229.00 37414.00 37219.00 37414.00 6 37488.00 37414.00 14

11-Feb-2011 GOLD MA11 Per 10 grms 37302.00 37423.00 37302.00 37423.00 - 37497.00 37423.00 1

11-Feb-2011 GOLD AP11 Per 10 grms 37250.00 37439.00 37250.00 37439.00 1 37513.00 37439.00 80

11-Feb-2011 KILOGOLD FE11 Per 10 grms 37266.00 37387.00 37266.00 37387.00 - 37461.00 37387.00 1

11-Feb-2011 KILOGOLD MA11 Per 10 grms 37275.00 37395.00 37275.00 37395.00 - 37469.00 37395.00 -

11-Feb-2011 TOLAGOLD50 FE11 Per Tola 43466.00 43607.00 43466.00 43607.00 - 43693.00 43607.00 -

11-Feb-2011 TOLAGOLD100 FE11 Per Tola 43466.00 43607.00 43466.00 43607.00 - 43693.00 43607.00 -

11-Feb-2011 MINIGOLD MON Per 10 grms 38331.00 38439.00 38331.00 38439.00 - 38515.00 38439.00 -

11-Feb-2011 MINIGOLD TUE Per 10 grms 38372.00 38481.00 38372.00 38481.00 - 38555.00 38481.00 -

11-Feb-2011 MINIGOLD WED Per 10 grms 38385.00 38496.00 38385.00 38496.00 - 38569.00 38496.00 -

11-Feb-2011 MINIGOLD THU Per 10 grms 38399.00 38510.00 38399.00 38510.00 - 38583.00 38510.00 -

11-Feb-2011 MINIGOLD FRI Per 10 grms 38318.00 38524.00 38318.00 38524.00 - 38596.00 38524.00 -

11-Feb-2011 TOLAGOLD MON Per Tola 44619.00 44619.00 44046.00 44173.00 1 44261.00 44173.00 2

11-Feb-2011 TOLAGOLD TUE Per Tola 44093.00 44222.00 44093.00 44222.00 - 44308.00 44222.00 11

11-Feb-2011 TOLAGOLD WED Per Tola 44109.00 44238.00 44109.00 44238.00 - 44323.00 44238.00 -

11-Feb-2011 TOLAGOLD THU Per Tola 44124.00 44254.00 44124.00 44254.00 - 44339.00 44254.00 -

11-Feb-2011 TOLAGOLD FRI Per Tola 44031.00 44270.00 44031.00 44270.00 - 44354.00 44270.00 -

11-Feb-2011 IRRI6W 17FE11 Per 100 kg 3190.00 3207.00 3190.00 3207.00 - 3190.00 3207.00 -

11-Feb-2011 RICEIRRI - FE11 Per 100 kg 3196.00 3205.00 3196.00 3205.00 - 3196.00 3205.00 -

11-Feb-2011 RBD PALMOLEIN FE11 Per Maund 5510.00 5568.00 5510.00 5568.00 - 5510.00 5568.00 -

11-Feb-2011 KIBOR3M 11-Mar Per Rs. 100 86.20 86.21 86.20 86.21 - 86.20 86.21 -

11-Feb-2011 KIBOR3M 11-Jun Per Rs. 100 85.56 85.57 85.56 85.57 - 85.56 85.57 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Indian sugarends steady

MUMBAI: Indian sugar pricesended steady on Friday as bar-gain-hunting outweighed thegovernment's indecision overexports of 500,000 tonnessugar and higher supplies, deal-ers and analysts said.

"Higher supply pressure willkeep market under pressure fornext one week. At the end ofthe month we might see someimprovement in the demandfrom bulk consumers," saidAshwini Bansod, a senior ana-lyst at MF Global CommoditiesIndia.

India has made available 1.62million tonnes of non-levysugar for February, including300,000 tonnes unsold stocksof January.

In December, farm ministersaid mills could export 500,000tonnes of sugar under OpenGeneral Licence (OGL). Butthe government, bowing topublic pressure over foodprices, has referred the issue toa panel of ministers.

In Kolhapur, a key market intop producing Maharashtrastate, the most traded S-varietyeased by 0.15 per cent to 2,646rupees ($57.9) per 100 kg.

Sugar contract for Marchdelivery on India's NationalCommodity and DerivativesExchange (NCDEX) ended up0.1 per cent at 2,780 rupees per100 kg. -Reuters

DIVO - IVORY COAST: A man picking coffee beans, in a coffee and cocoa plantation, in Divo. -Agencies

LONDON: Gold retreatedtowards $1,360 an ounce onFriday from earlier three-weekhighs as news that EgyptianPresident Hosni Mubarak hadresigned after weeks of protesttook some heat out of risk aver-sion.

Mubarak handed over powerto the army, ending threedecades of autocratic rule, afterescalating pressure from themilitary and protesters. Stock

markets rose on the news, eras-ing earlier losses, while the dol-lar retreated from highs.

"The geopolitical risk and theincentive to buy gold on theback of that are probablyreduced," said Hayden Atkins,an analyst at Macquarie."Tension will still be simmer-ing, but it won't be as big a newsstory for people to trade off."

Spot gold was bid at$1,362.10 an ounce at 1645GMT against $1,362.90 late inNew York on Thursday, havingearlier risen as high as$1,368.16 an ounce. US goldfutures for April delivery weredown 20 cents to $1,362.30.

Atkins said the protests'impact on gold had been largelyperipheral as the metal remainedtrapped between slackeningappetite for bullion as interest inother assets like stocksimproved, and ongoing uncer-tainty over the economic out-

look. "It has provided gold witha little bit of direction day today, but we still haven't movedvery far since the pull-back atthe start of the year," he said.

"The Middle East situationhas made a difference at themargins, but people still aren'tconvinced over pushing (gold)one way or the other."

Gold fell 6 per cent in Januaryafter a run of well-received USdata shifted investors' focus

onto assets seen as higher risklike stocks, but its slide hasbeen arrested this month.

Investment demand for goldremained soft, with holdings ofthe world's largest gold-backedexchange-traded fund, NewYork's SPDR Gold Trust, easingby nearly a tonne on Thursday.They are down just over 55tonnes so far this year. In the sameperiod of 2010, they fell around27 tonnes. Premiums for gold barswere steady in Hong Kong andSingapore, with no signs of buy-ing interest from China.

Silver was bid at $30.05 anounce against $30.19. Holdingsin the world's largest silverETF, the iShares Silver Trust,rose around 18 tonnes to10,388.45 tonnes on Thursday,their first increase since Jan. 24.

Platinum was at $1,829 anounce against $1,824.75, whilepalladium was at $816.97against $820.25. -Reuters

Gold retreats afterchange in Egypt

Coffee slipsoff peak,

sugar downLONDON: Arabica coffeefutures on ICE consolidatedlower on Friday, lingeringbelow their highest level inalmost 14 years, and ICE cocoadipped below Thursday's one-year high, weighed down by astrong dollar.

New York's benchmark Mayarabicas were down 1.85 centsor 0.7 per cent to $2.56 per lb at1547 GMT after touching$2.58 a lb on Thursday, thehighest since May 1997.

Liffe May robusta coffeeedged down $3 to $2,256 pertonne, below its 2-1/4-yearhigh of $2,287.

New York cocoa retreated froma one-year peak on Friday in thinvolumes, with political turmoil intop grower Ivory Coast continu-ing to support prices. ICE cocoafutures for May fell $32 or 1 percent to $3,341 a tonne at 1548GMT, below Thursday's peak of$3,431, the highest since Jan.2010. London's May cocoa con-tract rose 4 pounds or 0.2 percent to 2,180 pounds per tonne,below its six-month peak of2,269 pounds a tonne, supportedby a weaker pound.

ICE raw sugar futures fell involatile computer-generateddealings, with volumes modest,with a focus on extreme volatil-ity in sugar markets which isfrustrating trade houses seekingto hedge positions. The bench-mark ICE March raw sugarcontract traded down 0.71 centor 2.2 per cent to 31.34 cents alb at 1549 GMT.

London's March white sugarfell $21.00 or 2.7 per cent to$764.40 per tonne, with thecontract set to expire. -Reuters

NEW YORK: US cottonfutures charged to a fresh 150-year top on Thursday on com-bined fund and speculative buy-ing and the market seemedpoised to hit $2 a lb in the daysahead, analysts said.

The key March cotton contracton ICE Futures US rose the 7-cent daily limit to trade at$1.8758 per lb, with the sessionlow at $1.83. Volume traded washeavy and it stood around 32,500lots at 1823 GMT, which wasalready 40 per cent above the 30-

day norm, Thomson Reuters pre-liminary data showed. Since themiddle of January, cotton futureshave climbed in valued by morethan a third, bolstered by over-seas mill buying seeking to lockup scarce supplies, dealers said.

The tightness has been aggra-vated by the fact that supplies ofcotton from the United States, theworld's top exporter, are practi-cally gone. The trade estimatesmore than 95 per cent of the cropof 18.32 million (480-lb) baleshas been sold. The market will be

looking toward the USAgriculture Department's poten-tial plantings report on March 31to see if the rally will promptmore American farmers to plantcotton in 2011. The NationalCotton Council of America, anindustry group, said US 2011cotton plantings will likelyreach 12.5 million acres. Mostanalysts feel the real number ismuch higher because the NCCsurvey was conducted beforethe current rally in the cottonmarket. -Reuters

US cotton soars to fresh150-yr top, $2/lb in sight

Shanghai copper fallsShanghai's most active cop-

per contract fell half a per centto 75,520 yuan. Copper inven-tories in warehouses moni-tored by the Shanghai FuturesExchange rose 7.4 per centfrom last Tuesday exchangesaid on Friday.

OPEC boosts supply to 2-year high in January

US late-morning trade

Oil falls afterMubarak

steps downNEW YORK: Oil prices fell onFriday on news EgyptianPresident Hosni Mubarak hadstepped down, easing tensionsabout a potential supply disrup-tion in the region.

"(People) see a lessening ofthe tension and they're kickingoil out of the safe-haven bet andselling off what they bought ear-lier," said Peter Beutel, presi-dent of Cameron Hanover inNew Canaan. US crude wasdown 23 cents at $86.50 a barrelat 16:15 GMT. Brent crudepared gains and was up 24 centsat $101.11 a barrel.

Brent's premium to US crude,which had blown out to a recordabove $16 a barrel, supported byconcerns about Egypt and highinventories levels in the UnitedStates, widened slightly to $14.75.

10Saturday, February 12, 2011

Former SA Olympic swimmer and futurePrincess of Monaco Charlene reacts during

visit to local school in Pietermaritzburg

Afridi takesadvice fromPak legends

Monitoring Desk

KARACHI: Pakistan captainShahid Afridi turned to theiconic duo of Wasim Akramand Imran Khan to seek advicefor a successful World Cupcampaign and both the formercaptains advised him that keep-ing the side united would bethe key to winning the trophy.

"Yes I spoke to Imran Khanand Wasim Akram as I idolisethem for their exploits forPakistan cricket and both werevery supportive and gave somesound advice," Afridi saidbefore boarding the flight toBangladesh early this morning.

Imran reminded the flam-boyant all-rounder that as cap-tain it was his prime responsi-bility to perform himself andkeep the players happy.

"Imran said unity would bethe key to success in the tour-nament and if the players hadself-belief and stuck togetherin the World Cup, they wouldachieve wonders," Afridi said.

He said the former captain,who led Pakistan to the 1992World Cup title, told him thathe had high hopes from thecurrent squad as they appearedgelled and had plenty of talentand depth.

"Imran's other advice was tobe prepared for injury prob-lems in the tournament and notto get discouraged. He saidPakistan had proved everyonewrong by winning the 92' tour-nament," Afridi said.

Afridi said former captainhad also advised him to keepworking with the senior play-ers and to keep on remindingthem how important they wereto the team.

"Imran bhai also advisedthat we should be carefulabout the dew factor in thetournament as most of thematches are day and night fix-tures and in March and Aprilhe pointed out that this was amajor issue in India, SriLanka and Bangladesh in theevening," he said.

Afridi said Wasim, who ledPakistan to the final in the1999 World Cup, had advisedhim to keep backing his play-ers all the time.

Apparently, Wasim toldAfridi that he should avoidcriticising any of the players inpublic as this proves discour-aging for them and spoilt thedressing room atmosphere.

The former captain toldAfridi that even if he had anyissues with their performance,he should speak to him pri-vately and not publicly.

"Wasim's contention was thisway the players even if theywere struggling for formretained their confidencewhich was the key to winningthe World Cup."

KARACHI: Pakistan vice-captain Misbah-ul-Haq doesnot believe that the recentspot-fixing scandal will haveany impact on the performanceof the team in the World Cup,staring from February 19.Asthe Pakistan squad prepares toleave for Bangladesh tonight,Misbah said the team hadgained momentum after theseries win in New Zealand andwas going into the tournamentwith their spirits high.

"We are going to play posi-tive cricket and our focus istotally on cricket and not onwhat has happened off thefield recently. I am confident itwill be a good tournament forus," said Misbah.Pakistan Test

captain also said that he washappy with his own form.

It is great that I have foundform at the right time, ahead ofsuch a big event and hopefullyit will continue in the WorldCup also. Playing for theWorld Cup for the first time isa big motivation to do well."

Misbah, who had an out-standing series in NewZealand where he scored sixhalf-centuries, said the teamwas clear about what wasexpected of them in the WorldCup."It will be a big event foreveryone as the oppositionchanges in every match and sodo the conditions. But I thinkafter the way we gelled andperformed in New Zealand,

the momentum is with us andno one should write us off," hesaid.

Misbah also added that itwas critical for the batting toclick in the mega event. "Wehave good bowlers but thebatsmen have to play their rolein scoring the required runswhile batting first or second.We have lot of experience andflair in our batting and Afridiand Razzaq are quality all-rounders in the lower-order,which gives us lot of edge."

Stating that he had happymemories of his last tour toIndia in 2007 and also of play-ing in Sri Lanka, Misbah saidhe was looking forward to theWorld Cup.-Online

Scandalwon't affect

our game: Misbah

BANGALORE: Australiancaptain Ricky Ponting doesnot believe that there are anyfavourites to win the WorldCup, but indicated that Indiaand South Africa would be theteams to watch out for in thequadrennial extravaganzastarting February 19.

"Who is the favourite rightnow, I am not really botheredbecause a number of teamshave the ability to win thecup. In this sort of tournamentthere are a number of teamswho can win. India and SouthAfrica probably are the stand-out teams. They are the pow-erhouses of internationalcricket.

" Pakistan and New Zealandare never too far away in ICCevents. Sri Lanka, in theseconditions, are as good an ODIside in the game around,"Ponting said.

The Australian captain alsofelt that results in the lead-upto the World Cup don't countfor much.

"I don't really care where westart the tournament. It's irrele-vant. I think going into the lastWorld Cup there was negativi-ty around us. We lost theCommonwealth Bank seriesand lost to New Zealand. Sothere were a few doubtsaround our team but we wentthere and won the World Cup.I don't think it really matterstoo much what's happening inthe lead-up."

But he is pleased with theteam's 6-1 thrashing ofEngland in the recently-con-cluded seven-match ODIseries.

"We are pretty confidentcoming into the World Cupjust beating a pretty goodEnglish side 6-1. We are really

in good shape and confident...momentum is around ourteam.

"I don't care. Who thefavourite is. I don't knowwhether there is such a thingaround in tournament like this.

Ponting hoped that his teamwould peak towards the latterstages of the tournament.

"It would be hard to main-tain your intensity throughoutthe tournament because of itslength and gap between someof the games. You can't takeanything for granted. We willmake sure that we progressnice and steady and make surethat we play our best crickettowards the latter part of thetournament," he said.

It is an accepted belief bynow that Sachin Tendulkar,playing in his sixth and proba-bly last World Cup, wouldgive it his all to win the trophy,

but Ponting hoped the scriptwould turn differently.

"There is no bigger stagethan a World Cup for all of usto stand up and perform well.Sachin wants to have a goodtournament and I am sureSachin wants to win the WorldCup but hopefully, it's not."

The schedule has come infor criticism but the long gapsbetween matches, Ponting felt,will give the injured players,which his team has in plenty atthe moment, enough time torecover and attain 100 per centmatch fitness.

"Normally, most ODI tour-naments you play you get abreak of two or three days inbetween games but here wehave got seven or eight daysbetween some of our games.We at the moment are carryinga few guys who are stiff andsore and are working their way

into full fitness. So it's a goodthing for us to have timebetween games," Ponting said.

"We have known that for awhile. We are all very aware ofthat and that's internationalsport these days, unfortunate-ly. It's all about managingworkloads and managing play-ers," he said.

Ponting said the absence ofMichael Hussey will be felt."Mike Hussey is a big loss toour set up. His experience andknowledge of the game in atournament like this are almostsecond to none. But it hasgiven an opportunity to hisbrother David.

"We had a couple of big set-backs in the last couple ofweeks. Mike and NathanHauritz being ruled out fromour World Cup squad. ShaunMarsh was the likely replace-ment of Hussey but he has

been ruled out as well. "But Jason Krejza and

Callum Ferguson coming intothe squad in the last momen-tum is not negative for us.Krejza has done well in Indiain Test cricket. He is a guywho can be a real match-win-ning bowler for us."

Australia have an enviablerecord in the World Cup win-ning it a record four times,including once in the sub-con-tinent in 1987 and Ponting,under whom they won it twice,is aware of the benchmark.

"I never thought what itmeans if we win the WorldCup. If we got to the final, Imight sit back and think whatit means for me and for us towin another World Cup. Butwe can't afford to look that faraway. My main focus is totrain hard and play well. -Agencies

India, SA are standout teams: Ponting

Monitoring Desk

BANGALORE: Hard-hittingIndian opener Virender Sehwagon Friday sounded a warning torival bowlers ahead of theWorld Cup, saying he plannedto bat right through the innings.

Sehwag, who opens theinnings with batting superstarSachin Tendulkar, is known forgiving his team flying starts withhis hard and clean hitting and hasso far scored 7,380 runs in 228

one-dayers with 13 centuries."I think I have never played

50 overs in one-day cricket. Themaximum I have played is 43 or44 overs," said Sehwag, 32.

"But this time, I will try to bat50 overs and give a good start tothe team. I have been unsuccess-fully trying this for the past 10years, but the effort is still on."

Sehwag said he was not feel-ing any pressure as his captainMahendra Singh Dhoni andcoach Gary Kirsten had always

backed him to play his naturalgame.

"The coach and captain justallow me to bat the way I bat.So, they are not putting anypressure on me. They have said'you just go and play your nat-ural game'," said Sehwag.

"My role is to go out thereand enjoy myself and give agood start to the team. If Iscore 20 runs in 10 balls or 100in 70 or 80 balls, I am happywith that."

Sehwag wants tobat all the 50 overs

ISLAMABAD: Pakistanskipper Shahid Afridi has saidthat the kind of team we have,we should really make it in tothe semi-finals of the WorldCup.

"Of course we want to playthe final and win it - everyonedoes - but we should make thesemi," Afridi to media.

Pakistan will enter in themega event with a freshsquad, seven out of Pakistan's15-man squad have not playedmore than 35 ODIs, and foreight, this will be a first WorldCup. It is the kind of unknownthey thrive on, the kind cap-tain Shahid Afridi feels makesthem "the most dangerousteam at the World Cup."

Pakistan have lost more

than they have won since theAustralia tour - 10 losses, 8wins - but they've pushedgood teams to the very brink,usually in direst off-field cir-cumstances. And the immedi-ate run-in was much needed: afirst ODI bilateral series winin over two years.

"For some time now we'vebeen trying to give the teaman identity, a face on thefield," Afridi told ESPNcricinfo.

"It's coming along. We havegot some good young playersin the set-up now, guys likeUmar Akmal, AhmedShehzad, Wahab Riaz mixedwith some experienced guys. Isee us as the most dangerousteam at the World Cup," he

said. Misbah-ul-Haq, thevice-captain, Saeed Ajmal andAbdur Rehman have notplayed in World Cups before.

"We've got options and Ilike that. We have batsmenlike Younis Khan and Misbahwho can play long innings,guys in the middle that arepower-hitters. We have wick-et- taking bowlers so I'mhappy that we have a balancedside," Afridi said.

Afridi said that the pressureis there as captain for sure, tokeep everyone up on the field,to get everything going, to getthe field right and to do wellyourself but I enjoy that. Youhave good and bad days butI'm confident my bowling isfine at the moment.-APP

Team confident tobring WC home: Afridi

KARACHI: India`s MahendraSingh Dhoni is the mostassured, relaxed and confidentcaptain going into the forth-coming World Cup, accordingto former Pakistan captainImran Khan.The former greatsaid India`s biggest strength istheir captain who has therespect of his players.

"He is the most assured andrelaxed captain in this tourna-ment and he has the respect ofhis players. He is also a veryastute tactician and a match-winner on his day," Imran said

on a private TV channel. Imran, who led Pakistan to

the title in 1992 World Cup,said India are the clearfavorites to win the title on cur-rent form. That they are one ofthe co-hosts only adds to it."On the sub-continental wick-ets their batting will be a pow-erhouse. They have two qualitybowlers in Zaheer Khan andHarbhajan Singh and havetaken a very wise decision byincluding leg-spinner PiyushChawla in their bowling line-up," he said.-Online

India’s Dhoniassured, relaxed

CHENNAI: Left-arm pacebowler Lonwabo Tsotsobepaid a generous tribute toMakhaya Ntini on Friday buttook pains to avoid compar-isons with the pioneer forblack South African crick-eters.

"He's played a big role forme. I played with him in thefranchise system back home.He played a huge role for theblack community in SouthAfrica and played a part in mysuccess also," Tsotsobe told anews conference.

Tsotsobe said he not wouldplay the same role as Ntiniwhen South Africa attempt to

win the World Cup for the firsttime. The tournament openson Feb. 19.

"I've tried to stop peoplefrom saying that I'm filling hisshoes," he said.

"I'm a different bowler toMakhaya and I try to use asmuch variation as possible.I'm not in the team becauseI'm filling his shoes. I'm doinga different role."

Tsotsobe said his heroes hadbeen left-arm pace bowlersWasim Akram from Pakistanand Sri Lankan ChamindaVaas while he now tried tolearn from India's ZaheerKhan.-Online

SA’s Lonwabopraises Ntini but

avoids comparisons

Hammersto occupyLondon

Oly stadiumMonitoring Desk

LONDON: West Ham Unitedhave been selected as the pre-ferred bidder to occupy theLondon Olympic stadium afterthe 2012 Games, the OlympicPark Legacy Company (OPLC)said on Friday.

West Ham defeated LondonPremier League rivalTottenham in the battle toinherit the 496 million pound($796 million) stadium. Theunanimous recommendationfrom the OPLC needs to be rub-ber stamped by the governmentand London mayor BorisJohnson.

The authorities are keen tohave a viable tenant to ensurethat the stadium, centrepiece ofthe 9.3 billion pound Olympics,helps to regenerate one of thepoorest parts of the capital.

"We are confident that thisrepresents the very best legacyfor the stadium," said MargaretFord, head of the OPLC.

"It is cracking for the commu-nities of east London, it is greatfor Londoners, it is very goodnews for the UK taxpayer andwe believe in this recommenda-tion it is also a really good out-come for sport."

Tottenham's bid had provedparticularly emotive. It plannedto demolish most of the stadiumand take out the running trackto make way for a 60,000-seater soccer-only venue at acost of 300 million pounds.

NZ’s Kaneto rejoinKiwi WC

SquadWELLINGTON: New Zealandbatsman Kane Williamson hasovercome a chest infection andwill leave Auckland tomorrowfor India and the upcomingcricket World Cup.

According to media say, the20-year-old was due to fly outwith the rest of the NewZealand team on Tuesday buthad his departure delayed bymedical staff. He will not makeit to India in time for NewZealand`s first warm-up matchagainst Ireland in Nagpur onSaturday but will be with theteam in time for a secondwarm-up match against India inChennai on Wednesday.

New Zealand`s first groupmatch is against Kenya atChennai on February 20.-Online

DHAKA: Bangladeshi journalists jostle to get closer to ICC World Cup trophy,on display at a local newspaper office.-Reuters

11Saturday, February 12, 2011

International & Continuation

CONTINUATION

NEW YORK: US consumersentiment rose to its highestlevel in eight months in earlyFebruary, boosted by recent taxcuts and optimism about theeconomy, a survey released onFriday showed.

A separate report also sug-gested stronger consumeractivity as the US trade deficitwidened slightly more thanforecast in December to itshighest level in four months.

While consumers were morecheery about the economic andjob market recovery, they wereless sanguine about the nation'slonger-term outlook, accordingto the latest consumer surveysfrom Thomson Reuters and theUniversity of Michigan.

The preliminary Februaryreading for the overall index onconsumer sentiment came in at75.1, up from 74.2 in January.

It was the highest level sinceJune 2010 and was roughly in-line with the median forecastof 75 expected by economistspolled by Reuters.

"Further proof that the USeconomy is rebounding at astronger pace than expected. It'sbeen reflected in virtually allrecent data outside of inflationdata," said Michael Woolfolk,senior currency strategist atBNY Mellon in New York.

The survey's barometer ofcurrent economic conditionsjumped to 86.8, the highestlevel since January 2008, whilethe gauge of consumer expec-tations slipped to 67.6 fromJanuary's 69.3.

US Treasuries touched ses-sion highs following the dataas some worried about thelong-term outlook.

A separate survey of fore-casters showed the US econo-my and jobs market are expect-ed to grow more strongly in thefirst quarter than previouslyexpected.

The Federal Reserve Bank ofPhiladelphia's survey of 43professional forecasters seesthe economy growing at anannual rate of 3.6 per cent in

the current quarter, up from theestimate of 2.4 per cent threemonths ago.

Though employment remainsone of the biggest challengesfor the economy, there havebeen signs the job marketrecovery is continuing, if notgaining speed.

With growth picking up, con-sumers remain concernedabout inflation, the Universityof Michigan surveys showed.One-year inflation expecta-tions were unchanged at 3.4per cent, the highest rate sincethe fall of 2008. The five-to-10-year inflation outlook alsowas unchanged at 2.9 per cent.

Concerns over inflation havebeen creeping up lately ascommodity prices rise and onjitters that strength in the econ-omy will force the FederalReserve to hike interest ratessooner than expected.Nonetheless, the Fed is largelyviewed as maintaining itsaccommodative policy forsome time.-Reuters

US consumersentiment hits8-month high

NEW DELHI: India's annualindustrial output in Decemberrose at its slowest pace in 20months on a higher base lastyear and stretched capacities atfactories, but the central bankwill likely continue tighteningmonetary policy to tame highheadline inflation.

Output rose 1.6 per centfrom a year earlier comparedwith a median forecast of 2 percent in a Reuters poll.

Growth in industrial outputwas 16.8 per cent lastDecember. The central bank,which has raised interest ratesseven times over since March,is expected to continue tight-ening monetary policy as stub-bornly high food prices drivebroader inflation.

India is suffering from highinflation that could eat intogrowth, with signs investorconfidence in Asia's thirdlargest economy was waningamid lack of economicreforms and a massive tele-coms corruption scandal thathas weakened the ruling coali-tion.

Industrial output inNovember, which was 2.7 percent, was revised upwards to3.62 per cent, government datashowed. India's industrial out-put figures are notoriouslyvolatile, and forecasts ranged

from a contraction of 1 percent to growth of 7 per cent.

Manufacturing output,which constitutes about 80 percent of the industrial produc-tion, rose an annual 1 per centin December, the federal sta-tistics office said in a state-ment.

Capital goods contracted13.7 pct in December indicat-ing companies may have putoff capacity expansion in theface of cost pressures becauseof consistent monetary tight-ening. "High statistical baseeffect was expected to pulldown the headline numbersharply and hence a growthrate lower than 2 per cent isnot surprising. On a month-on-month the IIP went up by over11 per cent, indicating strongmomentum," said GauravKapur, Senior Economist withRoyal Bank of Scotland.

"I still see a 25 basis pointshike in March on inflationaryconcerns," said NamrataPadhye, Economist with IDBIGilts, Mumbai.

The most-traded 8.13 percent 2022 bond yield edged up1 basis point to 8.20 per centafter the data as markets hadalready priced in a furtherslowdown because of the baseeffect and are now looking atthe monthly inflation data to

be released on Monday for fur-ther cues.

The data comes amid expec-tations for over 8 per centheadline inflation in Januarycompared to December, stokedby high food inflation and ris-ing global commodity prices.

While Finance MinisterPranab Mukherjee termed thedata as "disappointing", anoth-er key adviser, DeputyChairman of the PlanningCommission Montek SinghAhluwalia downplayed thedata.

"Month-to-month variationin the IIP should not occupy usto much ... And also when itshoots up the next month, don'tassume that it's now going tocontinue at a very high rate,"said Ahluwalia.

Headline inflation inDecember was 8.43 per cent,and a Reuters poll forecastwholesale price index inflationfor January, to be released onMonday, to ease slightly to8.05 per cent.

There were no fears of a con-traction in India's industrialoutput growth as the manufac-turing sector is doing well,Trade Minister Anand Sharmasaid on Tuesday, adding, anti-government unrest in Egyptwould not impact Indianexports.-Reuters

India Dec industrialoutput slows to20-month lowLONDON: British factory gate

inflation rose twice as fast asexpected last month, and the costof raw materials soared, heapingpressure on the Bank of Englandto raise interest rates soonerrather than later.

Evidence that pipeline infla-tion pressures are continuing tobuild will worry BoE policy-makers at a time when consumerprice inflation is nearly doubleits 2 per cent target and still ris-ing.

The Office for NationalStatistics said producer inputprices rose 13.4 per cent on the

year in January, the biggestannual rise since October 2008and well above forecasts for anannual rate of 12.6 per cent.

Producer output prices rose4.8 per cent on the year, thehighest annual rate since May2010. On the month pricesjumped one per cent, doublewhat economists had predicted.

"This is one more troublingpiece of evidence for theMonetary Policy Committee toconsider when weighing up theinflation story," said BrianHilliard, UK economist atSociete Generale.

"It appears manufacturers aregaining increasing pricingpower."

Britain's central bank is havingto juggle soaring price pressureswith a fragile economic recoveryand it held interest rates steadythis week at 0.5 per cent, therecord low they have stood atsince March 2009.

BoE Governor Mervyn Kingmaintains that inflation is beingdriven by external factors overwhich the central bank has nocontrol, and one-off domesticfactors such as the rise in valueadded tax. -Reuters

UK producer prices surge;pressure mounts on BoE

ATHENS: EU and IMF inspec-tors approved on Friday a new15 billion euros tranche of aidfor Greece but said progresswas too slow and urged Athensto speed up reforms to meet thetargets of its bailout deal.

Greece has slashed publicspending, frozen pensions andincreased taxes under the termsof the 110 billion euros ($149.1billion) bailout agreed in Maylast year to save it from bank-ruptcy, but was told on Friday itmust do more.

In a more critical tone thanprevious inspection visits, thelenders monitoring the debt-choked country's fiscal progresssaid Greece needed faster struc-tural reforms in areas such astax administration and health tosecure recovery.

"The program is on track but itwill not remain on track withouta significant, broad-based accel-eration of reforms," said IMFmission chief Poul Thomsen."Reforms have clearly not yetreached a critical mass needed

to secure recovery." In November, when the previ-

ous aid tranche was approved,the lenders sounded more posi-tive, saying that althoughGreece technically missed full-year targets due to statisticalrevisions, it had made a hugefiscal effort and met third quar-ter cash targets.

The bailout was the first everagreed to rescue a euro zonemember, in a crisis that has sentshockwaves throughout thebloc, spilling over to Irelandand threatening Portugal andSpain.

Many analysts believe Greecewill not be able to handle itsdebt mountain when the three-year bailout ends and will needto restructure its debt at somepoint.

EU, IMF and Greek officialshave ruled out restructuring butagree that something needs tobe done to help Greece tackle aborrowing hump in 2014/2015.They are examining variousoptions, including extending

bailout loan repayments andhelping Greece buy back itsdebt.

The 15 billion euro aidtranche must now be approvedby euro zone finance ministersand the IMF board. Greece hasalready received 38 billioneuros in aid.

The lenders set an ambitioustarget for Greek privatisationproceeds, saying 50 billioneuros should come in 2011-2015, including 15 billion in2011-2012. The government'sprevious target was for 7 billioneuros in 2011-2013.

"We see there are three veryimportant sources for privatisa-tions -- listed and unlisted com-panies, the assets the govern-ment has in these companies,and commercial real estate,"said the EU's mission chiefServaas Deroose.

"To help reduce public debtand support higher investmentand growth, it is essential toscale up privatisations," hesaid.-Reuters

EU, IMF approveGreek aid but want

faster reforms

GermanJan CPI

revised up,WPI spikes

BERLIN: Germany's infla-tion rate picked up pace inJanuary, data showed onFriday, after the statisticsoffice revised the country'sconsumer prices index toshow a 2.0 per cent year-on-year increase.

"A higher inflation rate waslast recorded in October 2008with a gain of 2.4 per cent,"the German Statistics Officesaid in a statement, confirm-ing the 2.0 per cent year-on-year rise in the harmonisedindex of consumer prices(HICP).

Germany's HICP differsfrom the headline consumerprice index (CPI) mainly inthe treatment of housingcosts, since statisticians needto adjust their models toaccount for the lower level ofhome ownership versus othereuro zone countries.

Separately, the bureaureported wholesale pricesrecovered all the declinesfrom the global economic cri-sis, after increasing at a 9.4per cent annual rate lastmonth.

"The January 2011 whole-sale price index exceeded thelevel from July 2008, reach-ing the highest level everrecorded," it said.

For years, a low-inflation-ary environment in Germanyhas exerted downside pres-sure on the euro zone's over-all HICP rate, since itaccounts for just over a quar-ter of the weighting.

Should German inflationmaintain a 2 per cent annu-alised pace in the comingmonths, economists warn itmay very well force theEuropean Central Bank toraise benchmark rates soonerrather than later in order toensure price stability.

It would also likely pushGerman government bondyields higher, adding to theinterest payments it will haveto pay on 302 billion euros innew debt it plans to issue thisyear.-Reuters

explosives, according to police. After the blasts the trains forKarachi and Punjab were stopped on different railway stations.

After blowing up Hyderabad railway tracks the militants target-ed railway tracks in Nawabshah, 284 miles between Sarhari andNawaz Dahry. According to railway officials, the blasts damagedthe railway tracks while Allama Iqbal and Pakistan Express werestopped on Nawab Shah Railway station. Meanwhile, the mili-tants also blew up railway tracks in Nowshehro Feroz Pur area ofMehrab Pur suspending the railway operation temporarily.

DS railway Aftab Memon told media that the railway track hasbeen repaired.-Online

Continued from page 12No #1

launched a mutual assessment process that takes into account theglobal effect of country-level policies. France, which holds therotating G20 presidency this year, has put currency reform at the topof its agenda. Strauss-Kahn's remarks were his clearest yet showingan alignment with the remedies proposed by French PresidentNicolas Sarkozy. As part of a reform toolkit, Strauss-Kahn suggest-ed the fund's international reserve asset, known as the SpecialDrawing Rights (SDR), could be used to smooth volatility.-APP

Continued from page 12No #3

the system. The project design and capacity building initiativesalso promote greater use of country systems by the donor commu-nity, leading to increased aid effectiveness.

"The new systems enable timely and reliable reporting ofaccounts and audit certification of financial statements.Statements that used to take 24-28 months to be submitted to thelegislature are now available within 8 months after the end of thefiscal year," said Aman Trana - Task Team Leader, "we anticipatethis to further improve as Pakistan continues to upgrade its sys-tems and increase capacity."

Further improvements will include upgrading the SAP softwareand servers throughout the country, developing and implementingthe Audit Management Information System, creating anInformation Security & Disaster Recovery Management System,along with establishing a data warehouse facility. The credit willbe from the International Development Association (IDA), theWorld Bank's concessionary lending arm and will have 35 yearsto maturity with a 10-year grace period; it carries a service chargeof 0.75 per cent.-Online

Continued from page 12No #2

Sheikh said that it was the Prime Minister's initiative due towhich the visit of the delegation materialised. He assured that theNorwegian Businessmen would make the best use of this visit toincrease investment and trade between the two countries. TheNorwegian Ambassador in Pakistan apprised the Prime Ministerthat the Norwegian mobile company Telenor intends to organisethe first "Investment Conference on opportunities in Pakistan" inNorway in the near future and hoped that the concerned Pakistaniorganisations would participate in this endeavour. The members ofthe delegation which included Hanne Lovstad, CEO of LEBARAand Tom Arne Nyborg of Dreker and Pendant, said that the poten-tial of trade between the two countries are enormous. They stressedupon the need to reactivate the Chambers of Commerce andIndustries in both the countries to interact closely and take advan-tage of the opportunities. The members further said that they hadexplored substantial opportunities for Norwegian investment in theHousing, IT and oil and gas sectors in Pakistan. The meeting wasattended by Zafar Mahmood, Secretary Commerce, AnisulHassnain, Secretary Board of Investment and the Ambassador ofPakistan in Norway, Faiz Mohammad Khoso.-Online

Continued from page 12No #4

southwest of Qom, the Mehr report said, adding the blast causedpanic among the residents of the clerical city. The ISNA report saidthe explosion struck "a pipeline and the blast did not cause anycasualties," adding the cause of the blast was being investigated.

The report, citing unnamed officials of National Iranian GasCompany, said gas distribution to households, power plants, busi-nesses and industrial consumers had not been disrupted due to theblast. Seven major oil and gas pipelines are located in the areawhere the fuel from fields in southern Iran is transferred to thenorth where most major Iranian cities are based. On September 11,up to 10 people were feared killed from a gas pipeline explosionnear Iran's northeastern city of Mashhad and another 16 sustainedburns. Iran holds the second largest gas reserves in the world afterRussia, but still exploits a small portion of it.-APP

Continued from page 12No #5

upcoming visit to Washington by President Asif Ali Zardaricould be cancelled if US official Raymond Davis was not freed.-Agencies

Continued from page 1No #6

the Circular said. It also advised all PRISM participants toensure compliance with the Customer Transfer Guidelines,Payment Systems and Electronic Fund Transfers Act 2007,PRISM Operating Rules, 2009 and all other applicable SBP rulesand regulations including those related to KYC and AML/CFT.

Continued from page 1No #7

general sales tax (RGST) due to political opposition, a lowtax base, and the government's failure to raise fuel prices areall adding to fiscal pressure. Commentators see Pakistan'sdivided coalition government as standing in the way of much-needed reforms.-Reuters

Continued from page 1No #8

charges have been proven against them. He said that the PML-N and people expectations were not fulfilled about the reductionof the volume of the cabinet.-Online

Continued from page 1No #9

Makhdoom Shahabuddin, Babar Awan, Haji Gulam AhmedBalour, Chaudhry Ahmed Mukhtar and Mir Hazar Khan Bajrani.

Prominent members of the previous federal cabinet, who hadnot been included in the cabinet, are Qamar Zaman Kaira, RajaPervaiz Ahsraf and Nazar Muhammad Gondal. The cabinet mem-bers had tendered their resignations to Prime Minister SyedYousuf Raza Gilani on Wednesday, after the Central ExecutiveCommittee (CEC) of the Pakistan Peoples Party had authorisedGilani to appoint a new "lean" cabinet. The decision of inductinga new cabinet was taken in view of the grave economic difficul-ties the country was facing. Meanwhile former foreign ministerShah Mehmood Qureshi has refused to become part of new feder-al cabinet without foreign affairs portfolio, sources close toQureshi told Online Friday afternoon.

Official sources told Shah Mehmood Qureshi met PM ahead ofoath taking ceremony of the cabinet in PM house and expressedhis reservations with the latter. Sources further told ShahMehmood Qureshi asked reasons from PM for changing his port-folio and the PM told this decision was taken by the top leader-ship of the party. Qureshi also protested against the characterassassination campaign launched by some circles against him say-ing certain elements in the party don't want to see him as foreignminister and attempts are being made to remove him from hisoffice under a conspiracy, sources added.

Continued from page 1No #10

Tareen addressing a press conference said that investigations had shown a US consulate employeeheld for killing two people did not act in self-defence. Fahim's weapon (one of the killed) was nei-ther loaded nor was it pointed at Davis. All the bullets were in the magazine and there was no bulletin the chamber,' Tareen told reporters. Tareen alleged that Davis fired 10 bullets at the two men andeven shot one of them in the back as the victim was trying to flee the scene. 'Our investigations arecomplete and we have charged him for murder,' Tareen said. The United States said Davis wasemployed by their consulate as a technical adviser and should, therefore, enjoy diplomatic immunity.His detention is a violation of the Vienna Convention on Diplomatic Relations, the US said.-Online

Continued from page 1No #11

A presentation of the reports of the sub-committee on textile industry to examine the expenditureof Rs500 million incurred by the Management of Textile City, Karachi for earth filling case was alsogiven to the committee.Members of the Committee, Tariq Shabbir, Ch Saeed Iqbal, Syed AkhonzadaChitan, Rana Asif Tauseef, Abdul Rashid Godil and Waseem Akhtar Sheikh attended the meeting.

The Secretary M/O Textile Industry while briefing the Committee stated that this year, Chineseand Pakistani cotton crop was damaged by the floods putting pressure on the cotton demand. Thegovernment is monitoring the situation, especially the export of cotton and yarn which is less thanthe previous year. As per estimate of Ministry of Food and Agriculture approximately 0.596

million hectares area was damaged by the recent floods out of total area of 3.2 million. Ministryof Food and Agriculture has further estimated that the loss will be around 2.6 million bales andexpected production for the season will reach 11.4 million bales. The world production in the year2009-10 was 128 million bales (170kg bale, however this year world cotton production would be147 million bales. he Representative of the Garment City Faisalabad, briefed the Committee andstated that the government announced the setting up of three garment cities in Karachi, Lahore andFaisalabad under the Trade Policy 2003-04. The purpose of the projects is to provide facilities andnecessary infrastructure to the textile sector with a view to promote value added garments (wovenand knitted), home textiles, made-ups and accessories to the international markets.-APP

Continued from page 1No #12

nightfall.Mubarak had sought to cling to power, handing some of his authorities to Suleiman whilekeeping his title. But an explosion of protests Friday rejecting the move appeared to have pushed themilitary into forcing him out completely. Hundreds of thousands marched throughout the day in citiesacross the country as soliders stood by, besieging his palace in Cairo and Alexandria and the state TVbuilding. Nobel Peace laureate Mohammed ElBaradei, whose young suporters were among the organ-izers of the protest movement, told The Associated Press, "This is the greatest day of my life."

"The country has been liberated after decades of repression," he said adding that he expects a "beau-tiful" transition of power. Later Palestinians in Gaza let off fireworks and shot into the air to celebratethe resignation of Hosni Mubarak , and Hamas called on Egypt's new rulers to change his policies."The resignation of Egyptian President Hosni Mubarak is the beginning of the victory of the Egyptianrevolution," said Hamas spokesman Sami Abu Zuhri. "Such a victory was the result of the sacrificesand the steadfastness of the Egyptian people," he told Reuters.Saza residents heard gunfire eruptacross the city when news of Mubarak's departure spread, and fireworks lit up the sky.-Reuters

Continued from page 1No #13

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LHC agreesto Kazmi'sbail beforearrest plea

LAHORE: Lahore High Court(LHC) while granting bailbefore arrest plea till February17 to sacked minister for reli-gious affairs, Hamid SaeedKazmi in Hajj corruption casehas directed him to resort toIslamabad High Court (IHC).

A petition was filed on behalfof Hamid Saeed Kazmi in LHCon Friday whereby he hadtaken the plea he was beingimplicated falsely in a corrup-tion case and was under thethreat that FIA would arresthim, therefore, he be grantedthe bail.

He further submitted that hewanted to take part in investi-gation in connection with Hajjcorruption case therefore, so heshall not be arrested. The reportpresented by FIA in SupremeCourt (SC) was not correct andhe was involved in the corrup-tion case with mala-fide intentby leveling baseless allegationsagainst him.

LHC while accepting his pleaon bail before arrest directedhim to approach IHC besidesfiling surety bonds worth 5 mil-lion rupees.-Online

ISLAMABAD: Economic AffairsDivision (EAD) would look after thedistribution of foreign funds to the min-istries that have been devolved or wouldbe devolved in the future.

According to sources, the decision tothis effect was made by theParliamentary Commission onImplementation of the 18th amendment.The commission has devised a strategywith regard to billion of rupees of for-eign aid that devolved ministries aregetting for various projects and/ordonors in the head of various develop-ment projects currently underway bydifferent ministries.

Sources told that ministries devolvedto provinces would continue workingon projects still underway. EconomicAffairs Division will remain responsible

for the smooth disbursement of thosefunds to concerned ministries whereas aresponsible officer would be appointedin EAD, so to ensure the smooth work-ing on that particular project, sourcesadded.

Sources further told that in future allthe matter related to devolved ministrieswhose projects are dependent on for-eign funds, would be dealt by EAD asbefore.

Sources told Online that UnitedNations, World Bank, Canada, England,and other foreign donors have continu-ously been providing billions of rupeesfunds to various devolved ministries,especially Population Welfare, SocialWelfare, and Special Education,Tourism, Education, and Culture forvarious development projects.-Online

Devolved ministries’ ‘inflows’ in EAD hand

ISLAMABAD: Prime Minister SyedYousuf Raza Gilani Friday reiteratedthat Pakistan is looking for trade withthe world to achieve economic self-reliance.

Pakistan, he said, welcomes foreigninvestment in various sectors and hasdesigned its policy accordingly withmultiple incentives for the investors.

The Prime Minister was talking tothe Norwegian Business delegationhere at the Prime Minister's House.The delegation is currently in Pakistanto explore possibilities of investmentas well as to enhance trade betweenNorway and Pakistan.

The Prime Minister said thatPakistan would extend complete sup-port to the initiative of Telenor fororganising the "Investment Conferenceon opportunities in Pakistan" inNorway. The Board of Investment(BOI), Trade Development Authority(TDA), the Ministry of Foreign Affairsand the Ministry of Commerce, hesaid, would be directed to cooperate inthis effort.

The Prime Minister expressed confi-dence that the visit of the Norwegianbusiness delegation would prove fruit-ful for both the countries and pave the

way for enhancing the trade volume.He thanked the Government and thepeople of Norway for the assistancegiven during the recent floods andlauded the Government of Norway'sten-year assistance programme for therehabilitation of the flood affectees.

The Prime Minister assured the dele-gation that maximum security wouldbe extended to the Norwegianinvestors as being given to a largenumber of foreign companies alreadyworking in Pakistan. The menace ofterrorism, he said, could be affectivelyconfronted through socio-economicdevelopment and creation of economicopportunities particularly in the under-developed areas.

The Prime Minister said that whilevery cordial relations exist between theGovernments of the two countries, theexchange of parliamentary and busi-ness delegations would further boostthe bilateral ties between Norway andPakistan. These contacts, he added,would facilitate the people to peoplecontacts essential to establish long-term relationship.

The leader of the NorwegianBusiness Delegation, Amir Jawed

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Norway trade delegations calls on Gilani

PM ties trade witheconomic upswing

ISLAMABAD: Afghan PakistanTransit Trade Agreement (APTTA)would be implemented from today(Saturday).

The 1st meeting of AfghanistanPakistan Transit Trade CoordinationAuthority (APTTCA) has already start-ed in Islamabad on Friday.

Secretary Commerce Zafar Mahmoodand Afghan Deputy Minister forCommerce and Industries MuhammadSharif Sharify co-chaired the meeting.

In the meeting, both sides tookreview of the issues relating to theimplementation status of AfghanPakistan Transit Trade Agreement(APTTA). These issues included instal-lation of tracking system, establishingbank guarantee system and internation-al requirements for sealable trucks.

In his welcome address, the secretaryCommerce expressed that due to per-sistent efforts of the joint workinggroup, APTTCA was successfully con-cluded. He expressed that, being an keytrading partner, Pakistan attachesutmost importance to Afghanistan. He

further stated that the new transit agree-ment is a far better document which isbased on international best practices.He highlighted that the main concern ofour business community has been theissue of smuggling. However, heexpressed his satisfaction that APTTAprovides for a comprehensive inbuiltmechanism to address the issue ofunauthorised trade.

Muhammad Sharif Sharifi, DeputyMinister for Commerce and Industriesof Afghanistan in his opening remarksthanked Pakistani side for extendingwarm hospitality to the Afghan delega-tion. He stated that both Pakistan andAfghanistan enjoy historical trade andeconomical relations. Both countriesare also members of ECO and Saarc,which further promote transit and bilat-eral trade cooperation. He said thatAPTTCA will work hard to sort out allproblems in APTTA ‘s implementation.

APTTCA would deal with all mat-ters related to transit trade and trans-portation between two neighbours.-Online

Afghan Pakistan Transit Trade Agreement

APTTA takeseffect today

WASHINGTON: IMF chiefDominique Strauss-Kahn has sug-gested the currencies of China andother emerging economies should beadded to its reserve asset to promotestability in the global monetary sys-tem.

Strauss-Kahn, the managing direc-tor of the 187-nation InternationalMonetary Fund, said an expandedrole for the IMF's special currencycould help to bolster the monetarysystem in the face of damagingvolatility.

Noting the only way the world sur-vived the 2008 financial crisis wasthrough extraordinary internationalpolicy cooperation, he warned:"Global imbalances are back."

Issues that were worrisome beforethe crisis -- large and volatile capitalflows, exchange rate pressures, rap-idly growing excess reserves -- were"on the front burner once again," themanaging director said at an IMFpanel discussion on internationalmonetary reform.

If the problems were left unre-solved, they "could even sow theseeds of the next crisis," he warned.

Such reform would help addressthe root of those global imbalancesand bolster the system's ability toprevent future crises.

"When we worry about the defi-ciencies of the international mone-tary system, we are mostly worryingabout volatility: a sense that money

sometimes flows around the globe intoo volatile a fashion, and that coun-tries need a more stable, more pre-dictable external environment inorder to prosper," the former FrenchSocialist finance minister said.

Strauss-Kahn recalled that the IMFhas been working to limit thatvolatility through several approach-es: by strengthening coordination ofeconomic and monetary policy, step-ping up surveillance of capital flowsand improving its financial safety netfor member nations in need.

Under a mandate from the Groupof 20 developed and emergingeconomies, representing about 90percent of global output, the IMF has

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Global monetary systemmust see the light: IMF

KARACHI: Policemen charging batons on PIA employees during a

sit-in demonstration at Quaid-e-Azam International Airport. -Online

Gaslinesexplode

in Iran atthree places

TEHRAN: Up to three gaspipelines exploded on Friday incentral Iran near the Shiite holycity of Qom without causingcasualties or disruption of fuelsupply, media reports said.

The Mehr news agency saidthree pipelines were struck bythe blast, the cause of which isunknown, while a report pub-lished by the ISNA newsagency said it was a singlepipeline which exploded earlyFriday.

"Three gas pipelines explodedat around 5:50 am (0220 GMT)25 kilometres (15 miles) northof town of Salafchegan," a spe-cial free economic zone located

See # 5 Page 11

Foreign Funding to ministries

PM hails Telenor's investment moot initiative

KARACHI: Some unknown militantsFriday blew up parts of railway tracks inKarachi, Hyderabad and Nawabshahleaving two persons injured and suspend-ing the railway operations.

According to media reports, two bombsexploded on railway tracks near BalochColony damaging one and a half feet rail-way track and injuring two persons. Theinjured were shifted to Jinnah hospital.

In the wake of further terror incidentsthe Hazara Express was stopped atKarachi Cant. The said train departedafter an hour . According to bomb dispos-al squads 1/2kg explosive material wasused in each bomb.

After Karachi blasts the militants blewup parts of down railway tracks inHyderabad are, with 3kg

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Militants partly bombsome rail-lines in Sindh

Khi, Hyd, Nawabshah tracks hit; trains stopped for sometime

World Bankundersigns

$24.5mn creditISLAMABAD: The WorldBank Friday approved a creditworth $24.5 million in addi-tional financing for the SecondImprovement to FinancialReporting and Auditing Project(PIFRA II) to further increasethe accuracy and reliability offinancial reporting, publicfinancial management andoversight at all levels of gov-ernment .

"The development of anaccounting, reporting, andauditing system that covers alllevels of government is notable

as these achievements placePakistan at the forefront ofPublic Financial Managementreform in the South Asiaregion," said RachidBenmessaoud, World BankCountry Director for Pakistan."Pakistan is the only country inthe region where SAP has beenimplemented successfully onsuch a large scale in the publicsector."

Since the approval of theproject in 2005, it has demon-strated notable results inimproving the capacity offinancial resource manage-ment, budgeting, expenditurecontrol and accountability atthe national, provincial and dis-trict levels. Through the devel-opment and operation of theFinancial Accounting andBudgeting System, the projecthas greatly improved accounta-bility and transparency bystrengthening internal controlsand enabling stakeholders togenerate timely reports through

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Additional financing

for PIFRA II