International

5 US F-16s arrive today See on Page 12

US envoy defends drone attacks See on Page 12

Pak signs loan pact with China for Paksat-IR See on Page 12

*Crude Oil (brent)$/bbl 82.83

*Crude Oil (WTI)$/bbl 81.22

*Cotton $/lb 123.65

*Gold $/ozs 1,348.20

*Silver $/ozs 24.24

Malaysian Palm $ 984.90

GOLD (NCEL) PKR 37,052

KHI Cotton 40Kg PKR 8,895*Last

Updated 20:00 PST

Yearly(Jul, 2010 up to 28-Oct-2010)

Monthly(Oct, 2010 up to 28-Oct-2010)

Daily (28-Oct-2010)

Total Portfolio Invest (22 Oct-2010)

104.18

54.95

28.15

2532

0.43

0.45

3.65

-0.99

-0.02

-3.35

-0.17

SCRA(U.S $ in million)

Portfolio Investment

FIPI (29-Oct-2010)

Local Companies (29-Oct-2010)

Banks / DFI (29-Oct-2010)

Mutual Funds (29-Oct-2010)

NBFC (29-Oct-2010)

Local Investors (29-Oct-2010)

Other Organization (29-Oct-2010)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (22-Oct-10)

Inflation CPI% (Jul 10-Sep 10)

Exports (Jul 10-Sep 10)

Imports (Jul 10-Sep 10)

Trade Balance (Jul 10-Sep 10)

Current A/C (Jul 10- Sep10)

Remittances (Jul 10-Sep 10)

Foreign Invest (Jul 10-Sep10)

Revenue (Jul 10-Sep 10)

Foreign Debt (Jun 10)

Domestic Debt (Aug 10)

Repatriated Profit (Jul- Aug 10)

LSM Growth (Aug 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.88bn

13.77%

$5.18bn

$9.03bn

$(3.85)bn

$(545)mn

$2.65bn

$455.10mn

Rs 310bn

$55.63bn

Rs 4863bn

$124.90mn

-3.85%

4.10%

$1,051

170.91mn

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

19.00

2.00

1.70

9.73

PKR/Shares

111.50

162.96

42.89

36.45

33.38

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

20-Oct-2010

20-Oct-2010

20-Oct-2010

29-Sep-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

29-Oct-2010

12.77%

13.08%

13.22%

13.50%

12.82%

12.99%

13.23%

13.61%

13.71%

13.66%

13.74%

13.84%

14.23%

14.36%

14.52%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 84.03 84.15

Canadian $ 84.80 85.00

Danish Krone 14.90 15.30

Euro 118.50 119.00

Hong Kong $ 11.00 11.30

Japanese Yen 1.050 1.076

Saudi Riyal 22.90 23.10

Singapore $ 65.60 65.70

Swedish Korona 12.20 12.70

Swiss Franc 88.20 88.70

U.A.E Dirham 23.30 23.50

UK Pound 135.80 136.00

US $ 85.95 86.35

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 83.71 83.91

Canadian $ 83.98 84.17

Danish Krone 15.98 16.02

Euro 119.21 119.48

Hong Kong $ 11.05 11.08

Japanese Yen 1.063 1.066

Saudi Riyal 22.87 22.92

Singapore $ 66.03 66.18

Swedish Korona 12.71 12.74

Swiss Franc 87.07 87.27

U.A.E Dirham 23.35 23.40

UK Pound 136.73 137.05

US $ 85.77 85.97

Inter-Bank Currency Rates

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ISLAMABAD: PM Syed Yousuf Raza Gilani called on President Asif Zardari atAiwan-e-Sadr. FM Qureshi and COAS Ashfaq Parvez Kayani are also present.-APP

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$100mn releasedunder CSF so far,remining $750mnin weeks: minister

Special Correspondent

ISLAMABAD: FinanceMinister, Dr Abdul HafeezShaikh Friday said that the USwould release outstanding $750million under CoalitionSupport Fund (CSF) withinnext few weeks.

"Out of US $850 million dueunder CSF, the US has released$100 million to Pakistan andwould be releasing the remain-ing $750 million in comingweeks," the finance ministertold APP.

He divulged these facts in anexclusive interview to the statenews agency, his first-evermedia interaction after hisreturn from Washington wherehe fought at the economic frontin the Pakistan-US StrategicDialogue.

He termed the dialogue as ashift from war-oriented strate-gies to sustainable develop-ment-led policies.

He said that in this dialoguethe senior leadership stressed

on development and prosperityof people, market access, andUS investment in Pakistan.

He said that the dialogue wasa total variation from previousones which were usually war-oriented.

He added that PresidentBarak Obama has lauded theeconomic policies and reformsprocess initiated by the incum-bent economic mangers ofPakistan.

He said that both the leader-ships also fixed priorities ofspending $7.5 billion aid underKerry-Lugar Bill with specialfocus on energy, food security,private sector, and humandevelopment.

He said that the $2 billion USsupport would be spent inaccordance with the prioritiesfixed by Pakistan, saying "wewill decide where to spend thisfund for the welfare of our peo-

ple."Shaikh said that a $300 mil-

lion Enterprise Fund was alsoestablished to encourageAmerican businessmenenhance their economic activi-ties in Pakistan.

He said that out of $7.5 bil-lion $2 billion would be spentin energy sector to overcomethe prevailing crisis.

The federal minister said that$2 billion would be utilised forensuring food security in thecountry. Special focus would begiven to building of new damsand improvement of country'sirrigation system, he added.

The federal minister said that1.6 million flood-affected peo-ple would be provided Rs0.1million each under the WatanCard Scheme adding that thiswould be in addition to whatgovernment has so far providedunder relief and rescue opera-tion.

He also informed the newsagency that flood tax bill willbe tabled in the Parliamentsoon.

Meanwhile speaking tomedia finance minister saidthat more taxes needed to beimposed on capitalists, feudals,and owners of large propertiesto ensure provision of

See # 1 Page 11

Discussed more uplift,less war in US: Shaikhl Flood Tax Bill to be tabled soon lMore taxes on the

rich a must l US founds $300mn Enterprise Fundl $2bn out of $7.5bn to go in energy sector

ISLAMABAD: TheEconomic CoordinationCommittee of Cabinet (ECC)Friday approved the Rs950 per40kg wheat support price for2010-11.

The ECC which met hereunder the chair of FinanceMinister Dr Abdul HafeezShaikh discussed two-pointagenda of wheat support priceand a financial package for theflood affected farmers.

The ECC decided to extend aloan facility at the interest rateof 8 per cent throughbanks to the affected farmers --holding more than 25 acres--against 12.5 per cent previous-ly.

The meeting was attended by

the minister for food and agri-culture, minister for petroleum,and senior officials of the min-istries concerned.

The ECC also decided toprovide a grant of Rs2400 peracre to the farmers/landownersholding up to 12.5 acres in theflood-hit areas and in thisregard it was also decided thathalf of the amount will be paidby the federal governmentwhile the rest by the respectiveprovinces.

The ECC was informed thatfederal government is transfer-ring the amount on cash basiswhile it's up to the provinces toprovide the farmers the incen-tive in the form of cash orinputs.-Agencies

Govt to buy wheatat Rs950/40kg: ECC

ISLAMABAD: The SupremeCourt Friday ordered StateBank of Pakistan (SBP) to pro-duce last 2 years' bank loans'record in the court asking thebanking regulator to ensurerecovery of loans, said mediareports.

The counsel of SBP IqbalHaider requested the bench toconsider both legally written-off loans and intentionaldefault cases.

A three-member bench of theapex court, comprising ChiefJustice Iftikhar MuhammadChaudhry, Justice GhulamRabbani and Justice Khalil-ur-Rehman Ramday, resumedhearing of a suo moto notice ofpress reports that the centralbank had quietly allowed com-mercial banks to write offloans, under BankingCompanies Ordinance.

The SBP convened a meetingof commercial banks anddevelopment financial institu-tions on October 25, 2010 to

devise a strategy in response tothe observations made by theSC regarding written-off loans.The meeting, chaired by SBPGovernor Shahid Kardar, dis-cussed the relevant issues indetail.

The SC on October 20, 2010had told the SBP to issue direc-tives to all commercial banksto serve notices on all majorbeneficiaries who got theirloans written off from 1971 to2009.

Abdul Hafeez Pirzada,appearing as amicus curiae,said that the SBP had writtenoff loans to support nationaleconomy but the institutionsdid not fulfill their responsibil-ities.

Iqbal Haider told the benchthat the new governor SBPwas serious in recoveringloans. The CJ said that con-cessions can be given to gen-uine cases but writing offloans on political bases mustbe stopped.-Agencies

SC exacts 2 years’bank loans’ stats

Produce details, apex court commands SBP

ISLAMABAD: Indian tradersselling cotton to Pakistan areunlikely to honour most of thedeals for nearly one millionbales after they failed to getregistered with export authori-ties, industry officials inPakistan said Friday.

Pakistani textile firms werebanking on neighbouring Indiato meet their needs after mas-sive flood damage to thedomestic crop caused an esti-mated shortfall of about 4 mil-lion bales.

Companies here say cancel-lation of Indian contracts oreven delay will eat into profitsof the textile industry, whichaccounts for about 60 per centof the country's total exports.

Traders had booked about 1million bales for delivery fromNovember to January fromIndia, the world's secondlargest producer, industry offi-cials say.

"Eighty per cent of the Indiandealers have said they had notbeen able to get themselvesregistered for cotton export,"Yasin Siddik, vice chairman ofprivate All Pakistan TextileMills Association (APTMA)told Reuters.

"It means that cotton is notcoming. It means cotton in ourdomestic market will remainshort and prices will remainfirm."

India suspended the online See # 3 Page 11

Indians mayn’t sellcotton to Pakistanis

Parliamentto take upRGST bill

in next sittingISLAMABAD: SecretaryFinance Salman Siddiq Fridaysaid that the Reformed GeneralSales Tax (RGST) Bill wouldbe tabled before the Parliamentin the next session.

Talking to media here atParliament House he said thatthe time frame for the imple-mentation of RGST would begiven by the Parliament.

He said that policy dialoguewith International MonetaryFund (IMF) would be held onMonday and Tuesday duringwhich different aspects wouldbe discussed for improving theeconomic conditions of thecountry.-APP

ISLAMABAD: President

Asif Ali Zardari and Prime

Minister Syed Yousuf Raza

Gilani have said that Pakistan

would itself decide on military

offensive in North Waziristan

and no external pressure for

the same would be entertained

at all.

The affirmation to this affect

was made in a high level

meeting presided by President

Asif Ali Zardari in which mat-

ters related to security and

military offensive in North

Waziristan were discussed.

Prime Minister Yousuf Raza

Gilani, Chief of Army Staff

General Ashfaq Parvez

Kayani, and Foreign Minister

Shah Mehmood Qureshi

attended the meeting.

According to presidential

spokesman during the meeting

the outcome of 3rd round of

Pak-US Strategic Dialogue,

held in Washington from 20th-

22 Oct, was reviewed and

regional situation was dis-

cussed at length.

Official sources told Online

that foreign minister and

COAS told President and

Prime Minister that important

headways were made in the

dialogue and Pakistan suc-

ceeded in getting more US aid

in defence, social, and eco-

nomic sectors.

President and Prime

Minister expressed their satis-

faction over the positive con-

sequence of dialogue and

vowed Pakistan would pro-

mote durable and long lasting

relations with US while keep-

ing its sovereignty, honor, and

respect intact.

Country's top civil execu-

tives said that Pakistan is

fighting the war against ter-

ror/extremism to the best of its

capabilities and decision on

operation in Waziristan would

be made by taking into

account the ground realities

and given circumstances.

COAS informed the meeting

that in North Waziristan more

than 70,000 troops are present

who are conducting targeted

operation against the terrorists

however due to US drone

attacks hatred and anger

against US is spreading in the

tribal areas like anything.

In the meeting the situation

in Afghanistan with particular

reference to dialogue process

of Afghan government with

the Taliban was discussed as

well. -Online

NWA onset, ourprerogative: govt

President, PM, FM, COAS meeting says no pressure for mily onrush to be entertained

CNG sellersin Potohararea stage

token strike ISLAMABAD: Gas supply inPotohar region, remained tem-porarily closed on Friday, due toannual repairs of Zamzama gasfields, forcing closure of 597CNG stations.

Gas load management plan hasgiven rise to drastic demand-supply situation, while CNGAssociation observed a completetoken strike over governmentdecision to close stations for 2-days.

CNG outlets in Chakwal,Jhelum, Attock, and Peshawar,remained closed on Friday andwill not open of Saturday aswell (today) due to the strike.The consumers are suffering bigtime and see no respite any-where near.

Taking advantage of the situa-tion public transporters havestarted minting money by over-charging the poor commuters.

Speaking on the issue, thepresident CNG Association,

See # 2 Page 11

Karachi, Saturday, October 30, 2010, Zul-Qa’dah 21, Price Rs12 Pages 12

Pagara elected as Presidentof Mutahida Muslim League

See on Page 12

Pak-US Strategic Dialogue marks a positive agenda change

2 Saturday, October 30, 2010

TV PROGRAMMES

SATURDAY

Time Programmes

7:00 News

8:00 News

9:05 Best of Subah

Savere

11:10 Mohaaz (F)

12:00 News

13:10 Newsbeat (Rpt)

14:10 Awam Ki Awaz

15:00 News

16:00 News

17:30 Samaa Metro

18:00 News

18:30 Samaa Sports

19:30 Taxi News

20:05 The Anchor

21:00 News

22:03 Faisla Aap Ka

23:05 Manzil

M Imran Sharif

KARACHI: Minister ofCitizen and Immigrationof Canada Eric Hoskinsaid that Canada attachesgreat importance toPakistan, and the Canadianmarket offers great oppor-tunities to Pakistaniexporters and manufactur-ers to make inroads inevery business sector inCanada.

He was speaking at theinaugural session of 2ndPakistan Single CountryExhibition in Canada atCongress Center Torontowhich was attended by alarge number of Pakistaniand Canadian business-men.

Eric Hoskin said that thetrade relations betweenboth the countries need to

be further expanded andholding of Pakistan SingleCountry Exhibition inCanada will be very instru-mental in achieving thedesired goal. He alsoappreciated the role ofPakistani community liv-ing in Canada which iscontributing significantlyin the progress of thecountry.

He further said that if thebusiness community ofboth the countries joinhands the bilateral tradeand economic relationswill go beyond imagina-tion. He offered thatCanada can contribute invarious sectors of Pakistanparticularly in Educationand Health sectors anddevelopment of infrastruc-ture. He highly appreciatedthe role of S M Muneer in

organizing the said show.Molana Atta ur Rehman

Federal Minster forTourism, S M MuneerChairman Pakistan CanadaBusiness Council ofFPCCI, Akber Zeb HighCommissioner of Pakistanin Canada, Sahibazada AKhan Consul General ofPakistan in Toronto, DrShafiq Qadri MPEtobicoke North, JimKarygvannis MP, JawedGhouri, Qamar Sadik,Aamir Shamsi, AbdulRehman Chawla, Naved ARehman and others alsoattend the exhibition.

Molana Atta ur Rehmanalso addressed the gather-ing and appreciated therole of FPCCI in exploringnew markets for Pakistaniproducts which is the needof hour.

‘Canada is apotential marketfor Pak traders,

Staff Reporter

KARACHI: EtihadAirways sponsored arecent expedition of ateam of British studentsfrom Off-screenExpeditions, a UK-basednon-profit organisation, tofly to Pakistan to assist indeveloping UK-Pakistanrelations.

Exploring the NorthWestern region of Pakistanin hopes of a better under-standing of the country'sculture and customs, theteam of 18-21 year oldphotographers, artists,musicians and a fashion

designer met with localstudents, artists, socialentrepreneurs, religiousscholars and politicians,transcending the common-ly held notions aboutPakistan in the UK andother countries; which theycharacterized as 'cricket,curry and terrorism'.

Amer Khan, CountryManager for Pakistan atEtihad Airways, said: "Weare delighted to work withOffscreen Expeditions onthis project. At the cross-roads between east andwest, Etihad Airways iswell placed to promotecross cultural exchange."

Etihad promotescultural exchange

KARACHI: Trust forVaccines andImmunization (TVI) con-ducted its first vaccinationactivity at a school inGulshan Town. This activi-ty marked the beginning ofTVI's Typhoid VaccinationCampaign that aims to pro-vide immunization fromTyphoid Fever to maxi-mum number of schoolgoing children of GulshanTown. The vaccinationactivity will continue till15th November.

Gulshan Town was cho-sen to conduct TVI's pilotproject because it is a goodrepresentative of childrenbelonging to all strata ofsociety and is more likely

to give a head start inestablishing a successfulchain of vaccinationamong all Socio EconomicClasses.

Expressing his viewsabout the starting of vacci-nation campaign inGulshan Town, ProfessorAbdul Gaffar Billoo said,"I'm very happy with ourprogress as a team. We hadbeen planning to conductvaccination for a long timeand now finally we haveentered into the most criti-cal execution phase, i.e.the vaccination and thiswould not have been possi-ble without the support ofMinistry of Health.-Agencies

TVI startstyphoid

vaccination drive

Shiraz Ahmed

KARACHI: ChairmanAnsar Burney TrustInternational and formerfederal minister forHuman Rights, AnsarBurney, has requested theSupreme Court ofPakistan to take suo motoaction against the federaland provincial govern-ments that issued fakecheques to the underagechild camel jockeys, whoreturned from MiddleEastern countries.

Ansar Burney visited thechild camel jockeys, thosereturning from UAE, in

far-flung areas of DeraGhazi Khan and RahimYar Khan, said that he alsohas the evidences thatmost of these childrenwere not going to schooland being sent to'Madrassa' where theywere being continuouslysexually abused.

He said that despite theSupreme Court's order togive money, which wasgiven to Pakistan by theUAE government, to theparents of these childrenfor their (children) reha-bilitation, the governmentfailed to do so and in somecases Government Issue

fake cheques parents evenin some cases to humantraffickers instead of chil-dren parents. He demand-ed an immediate enquiryin this matter.

He claimed to haveproof that in the'Madrassa' of Kharasa'nColony in Liaqatpur oneof the teachers was caughtred handed whilesodomising an underagejockey boy in the butnothing happened.

Burney said that afterbeing abused these chil-dren could easily be usedas 'suicide attackers'against humanity.

Burney demandssuo moto action

against government

US to assisttextilesector

KARACHI: William JMartin, US Consul Generalin his speech at the dinnerreception hosted by DrMirza Ikhtiar Baig, FederalAdvisor on Textile in hishonour, assured that USwill help Pakistan for therevival of the economy andtextile sector.

Dr Baig in his welcomespeech called the recentPak-US Strategic Dialoguein Washington successfulwhich has given a newdimension to US-Pak rela-tionship.

Dr Baig also informedabout his meetings with thesenior officials of USTRMs. Gail Strickler, and PaulW Jones, Deputy of Mr.Richard Holbrooke, werefocused to support PakistanTextile Industry. He appre-ciates the efforts of UnitedState Department of TradeRepresentative for arrang-ing meetings with 100 TopUS brands with our leadingtextile exporters at JavitsCentre, New York. Heassured new US ConsulGeneral that theGovernment of Pakistanappreciates their effortsand are working hard joint-ly to achieve the desireresults.-Agencies

SCBreinforces

bank’sstrengths

in PakistanKARACHI: ChristosPapadopoulos, RegionalChief Executive OfficerStandard Chartered Bank(SCB), Middle East andNorth Africa, was inKarachi recently to rein-force Standard Chartered'scommitment to Pakistan."Pakistan is a very attrac-tive market for us and weare committed to support itsdevelopment and growth,"said Papadopoulos at theoccasion.

During his visit toPakistan, Papadopoulosmet with industry, businessand finance leaders as wellas regulators to explore thecountry's growth strategiesand the opportunities forgreater regional involve-ment for the Bank.

"The huge advances madeacross a number of industrysectors including telecom-munications, manufacturingand the service sector openup new doors for financialservice providers. Weintend to work closely withboth the private and publicsectors to deepen our com-mitment to our existing cus-tomers, the region in gener-al and the wider businesssector.-PR

US envoysmeet Lahore

tannersStaff Correspondent

LAHORE: CarmelaConroy, Consul General ofthe United States ofAmerica, Lahore alongwith Jessica BerlowEconomic OfficerConsulate of USA, Lahorepaid visit to PakistanTanners Association

Khurshid Alam,Chairman, PakistanTanners' Associationaccompanied the envoysalong with Vice Chairman,PTA (Central) FawwadShafi, Central ExecutiveCommittee Members andspecial invitee memberswere also present.

The Chairman, PTA,Khurshid Alam spoke onthe worth and present sta-tus of Leather Industry ofPakistan. He stated that theleather sector realises thatUS is helping Pakistan forflood affectees by provid-ing relief packages espe-cially in Southern Punjab.Earlier the US assistancefor earthquake affectedareas was highly appreciat-ed that.

Gul Ahmedbringswinter

collectionKARACHI: Bohemianglamour returned to thestreets of Karachi as themuch awaited fall and wintercollection by Gul AhmedTextile Mills was launched ata glittering ceremony.

Celebrities from across thespectrum of Karachi's socialcircles as well as the mediawere at the launch ceremonythat saw the latest designsaided with Gul Ahmed'strademark vibrant coloursentice the audience. Fromtextured delights of theOltenia premium collection,to the celebrated ExclusivePrinted Khaddars and thevivacious hues of the SinaiCrepe collection are just someof the lines on exhibit.-PR

Toshibastarts quality

campaignKARACHI: With SachinTendulkar as its brandambassador, Toshiba hasstarted an extensive market-ing campaign with the keymessage of "Quality -Technology - Design" in theSouth Asia region, said ahandout issued here.

Tay Choon Song, SeniorManager for MarketingServices/eBusiness, Toshibasaid, "Cricket is the mostpopular sport in the SouthAsia region and Sachin is aworld-renowned Indiancricketer who has to his cred-it innumerable records andpath-breaking achievementsin the cricketing arena."-PR

PTAnamed best

telecomregulator

Staff Reporter

KARACHI: PakistanTe l e c o m m u n i c a t i o nAuthority (PTA) has beendeclared most progressivetelecom regulator in SouthAsia for the year, whileChairman PTA DrMohammed Yaseen hasbeen recognised as besttelecom regulatory leaderof the Year.

South Asian, MiddleEastern and North African( S A M E N A )Te l e c o m m u n i c a t i o nCouncil conferred theseawards in its award cere-mony held at Casablanca.It announced awards in dif-ferent categories for topperformers amongst itsmember countries.Pakistan has received theseawards in recognition of itscompetitive regulatoryenvironments across theRegion and unprecedentedgrowth shown by the tele-com sector of Pakistan.Chairman PTA won awardin individual categorywhile PTA won BestPerformance award inRegulators awards.

Canadian minister talks at Pak expo

Fake cheques to the underage child camel jockeys

KARACHI: City DistrictGovernment Karachi(CDGK) has set aside asum of Rs20million forcontrol of dengue virusand malaria in city whilewith the addition of 20bedded ward the totalnumber of beds in AbbasiShaheed Hospital forpatients suffered fromdengue virus has increasedto 60.

This was stated byKarachi AdministratorFazlur Rehman whileaddressing a press confer-ence at Abbasi ShaheedHospital on Friday. EDOHealth Dr. Nasir Javed,EDO Municipal Services

Masood Alam and EDOFinance & Planning NailaWajid Khan were alsopresent on this occasion.

Out of 18 towns sixtowns have been affectedmore due to dengue viruswhere spray program hasbeen made in the morningand night timings.

Earlier AdministratorFazlur Rehman whilechairing a meeting of allthe THOs and MedicalSuperintendents of citygovernment run hospitalsdirected town health offi-cers to play active role ontown level in the ongoingfumigation campaign.

Addressing the press

conference KarachiAdministrator said that atpresent city governmenthas only 20 spraymachines as rest of themachines were torched onthe Ashura Incident.Therefore city governmenthas decided to add 80more spray machineswhich would be enough tocater to needs of the city.40 machines are being pur-chased immediately while40 more machines will bepurchased in the nextfinancial year.

He said that he will per-sonally monitor the fumi-gation campaign and sup-ply of medicines.-Online

More beds fordengue ward

CDGK steps up dengue controlling efforts

KARACHI: Administrator of Karachi Lala Fazal ur Rehman visitingthe Abbasi Shaheed Hospital’s Dengue ward with IDO finance

Naila Wajid and IDO Health Dr Nasir Javed.-Staff Photo

KARACHI: Sindh Chief Minister Syed Qaim Ali Shah called on Governor SindhDr Ishratl Ebad Khan governor House.-APP

KARACHI: Sindh Governor Dr. Ishratul Ebad Khan unveiling plaqueto inaugurate Professional Development Center and Training Facilities

at University of Karachi.-APP

KARACHI: A view of the traffic jam at Saddar after violencein the city following the assassination attempt on Chairman

Sunni Tahreek Sarwat Ejaz Qadri.-Online

KARACHI: GovernorSindh Dr Ishrat- ul- EbadKhan and Chief MinisterSyed Qaim Ali Shah havedirected that effectivemeasures be taken forprotection against denguevirus in the province.

A statement here onFriday said that they hadinstructed the SindhHealth Department toconstantly keep a vigilanteye and undertake pre-ventive measures besidesproviding treatment facil-ities.

It said that the ChiefMinister called on the

Sindh Governor at theGovernor House here onFriday evening.

Matters pertaining torehabilitation of floodaffected, law and order,development projects alsocame up for discussionduring the meeting.

The Governor and theChief Minister said thatevery possible stepswould be undertaken forcurbing crimes and forthe maintenance of lawand order.

They further directedthat miscreants should bedealt with sternly.

It was also instructedthat foolproof securitymeasures should beundertaken and that theshopkeepers of ShershahMarket be provided withsecurity.

Those involved in thetragic incident ofShershah Kabari Marketbe brought to justice.

The Governor and theChief Minister directedthat the ongoing develop-ment schemes be com-pleted at the earliest sothat their benefit reach thepeople without anydelay.-APP

Qaim, Ebad vowsteps against dengue

APTMAslams

SSGC overlow gaspressure

KATACHI: ViceChairman All PakistanTextile Mills Association(APTMA) M YasinSiddique showed concernover supply of low gaspressure to textile industryand urged the SSGC totake immediate steps torestore required gas pres-sure to industry as low gaspressure is causing damageto generators and affectingproduction of industry dueto which process are alsonot working properly.

Vice Chairman APTMAsaid that low gas pressurewould badly affect produc-tion and delay shipmentsof export orders and wewill not get benefit fromrecent market access facil-ity extended by EU if gassupply is not provideduninterruptedly.-Online

MUMBAI: The Indian rupeesnapped a three-day losingstreak on Friday buoyed by alate rise in local shares, whichcontinued to keep up hopes formore foreign fund inflows, butbroad dollar strength cappedfurther gains.

The partially convertiblerupee closed at 44.43/44 perdollar, 0.2 per cent strongerthan its 44.52/53 previousclose. It moved in a range of44.4250-44.57. "The rupeeshould have been much weakerthan where it was today look-ing at the global dollar moves,but probably the liquiditycrunch here prevented that,"said Naveen Raghuvanshi, anassociate vice president withDevelopment Credit Bank.

The government will raiseclose to $3.5 billion from the saleof a 10-per cent stake in CoalIndia, the world's largest coalminer, the initial public offeringof which was 15 times covered.So far this year, foreign funds

have purchased shares worth arecord $24.6 billion, helping therupee gain 4.7 per cent.

One-month offshore non-deliverable forward contractswere quoted at 44.74, weakerthan the onshore spot rate. In thecurrency futures market, themost traded near-month dollar-rupee contracts on the NationalStock Exchange, MCX-SX andUnited Stock Exchange closed at44.7225, 44.72 and 44.7175respectively, with the total tradedvolume on the three exchanges atabout $5.2 billion. -Reuters

Indian rupee snaps3-day fall as share surge

3Saturday, October 30, 2010

Currency Rates

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 29/10/2010

A USD GBP CAD EUR JPY

O/N 0.22563 0.55375 1.02667 0.69250 SN 0.09438

1WK 0.24841 0.55563 1.05000 0.73875 0.10688

2WK 0.25000 0.56000 1.07333 0.76313 0.11250

1MO 0.25375 0.56875 1.10917 0.80688 0.12625

2MO 0.26766 0.62688 1.15750 0.86063 0.15438

3MO 0.28594 0.74100 1.21750 0.98688 0.19688

4MO 0.33500 0.82413 1.27750 1.04188 0.28125

5MO 0.39750 0.92813 1.33750 1.12875 0.33813

6MO 0.44844 1.03000 1.40500 1.22438 0.39750

7MO 0.49719 1.10375 1.46167 1.27563 0.45750

8MO 0.54625 1.18725 1.54833 1.32250 0.50375

9MO 0.59688 1.26813 1.61333 1.37375 0.55375

10MO 0.65056 1.34250 1.68500 1.41813 0.58250

11MO 0.70406 1.41000 1.76167 1.46125 0.61063

12MO 0.76219 1.48038 1.84500 1.50688 0.63813

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

U.S.A. 85.95 85.75 85.56

U.K. 137.05 136.73 136.42

EURO 119.48 119.21 118.92

CANADA 84.17 83.98 83.76

SWITZERLAND 87.27 87.07 86.84

AUSTRALIA 83.91 83.71 83.49

SWEDEN 12.74 12.71 12.68

JAPAN 1.07 1.06 1.06

NORWAY 14.57 14.54 14.50

SINGAPORE 66.18 66.03 65.85

DENMARK 16.02 15.98 15.94

SAUDI ARABIA 22.92 22.87 22.81

HONG KONG 11.08 11.05 11.03

CHINA 12.87 12.84 12.81

KUWAIT 305.82 305.11 304.30

MALAYSIA 27.64 27.58 27.50

NEW ZEALAND 64.80 64.65 64.48

QATAR 23.61 23.56 23.49

U.A.E. 23.40 23.35 23.28

KR WON 0.08 0.08 0.08

THAILAND 2.87 2.86 2.85

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

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

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

ABLN 12.10 12.60 12.10 12.60 12.25 12.75 12.75 13.00 12.90 13.15 13.10 13.60 13.25 13.75 13.35 13.80

JSBL 12.35 12.85 12.35 12.85 12.45 12.95 12.75 13.00 13.05 13.30 13.20 13.70 13.30 13.80 13.50 14.00

ASPK 12.15 12.65 12.20 12.70 12.25 12.75 12.70 12.95 12.95 13.20 13.10 13.60 13.15 13.65 13.30 13.80

CIPK 12.00 12.50 12.20 12.70 12.40 12.90 12.65 12.90 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80

DBPK 12.05 12.55 12.10 12.60 12.05 12.55 12.70 12.95 12.90 13.15 13.15 13.65 13.25 13.75 13.35 13.80

FBPK 12.10 12.60 12.20 12.70 12.15 12.65 12.65 12.90 13.00 13.25 13.10 13.60 13.15 13.65 13.40 13.90

FLAH 12.25 12.75 12.25 12.75 12.30 12.80 12.75 13.00 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80

HBPK 12.20 12.70 12.25 12.75 12.35 12.85 12.75 13.00 13.00 13.25 13.10 13.60 13.20 13.70 13.35 13.85

HKBP 12.20 12.70 12.20 12.70 12.30 12.80 12.75 13.00 12.95 13.20 13.10 13.60 13.20 13.70 13.30 13.80

NIPK 12.20 12.70 12.30 12.80 12.60 13.10 12.80 13.05 13.00 13.25 13.10 13.60 13.20 13.70 13.30 13.80

HMBP 12.10 12.60 12.20 12.70 12.45 12.95 12.80 13.05 13.00 13.25 13.15 13.65 13.20 13.70 13.30 13.80

SAMB 12.25 12.75 12.25 12.75 12.40 12.90 12.85 13.10 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85

MCBK 12.10 12.60 12.25 12.75 12.40 12.90 13.00 13.25 13.05 13.30 13.20 13.70 13.30 13.80 13.50 14.00

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

SCPK 12.20 12.70 12.20 12.70 12.25 12.75 12.70 12.95 12.95 13.20 13.10 13.60 13.15 13.65 13.35 13.85

UBPL 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

AVE 12.17 12.67 12.22 12.72 12.32 12.82 12.74 12.99 12.98 13.23 13.11 13.61 13.21 13.71 13.33 13.83

London Inter Bank Offered Rates (LIBOR)

Karachi Inter Bank Offered Rates (KIBOR)

Name Bid Ask High Low

EUR-USD 1.3911 1.3913 1.3950 1.3810

EUR-GBP 0.8679 0.8683 0.8741 0.8673

EUR-CHF 1.3687 1.3693 1.3736 1.3648

EUR-JPY 112.03 112.07 112.96 111.55

USD-CHF 0.9838 0.9843 0.9907 0.9827

USD-CAD 1.0187 1.0192 1.0246 1.017

GBP-USD 1.6025 1.603 1.6035 1.5876

GBP-JPY 129.04 129.1 129.25 127.99

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)29/10/2010

As per 22.00 PST

CMKA BMA INVSR GSL ICSL JSCM AvgRate

0-7days 12.25 11.60 11.50 12.15 12.25 11.60 11.89

8-15dys 12.25 11.90 11.90 12.20 12.30 11.85 12.07

16-30dys 12.40 12.25 12.15 12.30 12.35 12.20 12.28

31-60dys 12.45 12.42 12.45 12.40 12.50 12.45 12.45

61-90dys 12.75 12.69 12.64 12.70 12.70 12.65 12.69

91-120dys 12.85 12.80 12.75 12.85 12.85 12.75 12.81

121-180dys 13.00 12.95 12.99 13.02 13.00 13.00 12.99

181-270dys 13.10 13.05 13.08 13.12 13.10 13.10 13.09

271-365dys 13.15 13.15 13.10 13.22 13.20 13.15 13.16

2-- years 13.40 13.40 13.35 13.40 13.40 13.35 13.38

3-- years 13.65 13.68 13.69 13.65 13.60 13.70 13.66

4-- years 13.70 13.70 13.70 13.68 13.73 13.72 13.71

5-- years 13.75 13.75 13.72 13.74 13.75 13.74 13.74

6-- years 13.75 13.75 13.74 13.75 13.75 13.75 13.75

7-- years 13.75 13.75 13.74 13.76 13.75 13.75 13.75

8-- years 13.75 13.75 13.74 13.77 13.75 13.75 13.75

9-- years 13.75 13.75 13.78 13.65 13.75 13.78 13.74

10--years 13.85 13.80 13.80 13.90 13.85 13.85 13.84

15--years 14.23 14.25 14.25 14.20 14.20 14.25 14.23

20--years 14.35 14.50 14.30 14.35 14.30 14.35 14.36

30--years 14.50 14.60 14.50 14.50 14.50 14.50 14.52

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for October 29, 2010

Source Events Actual Forecast Previous

JPY Manufacturing PMI 47.2 49.5

JPY Tokyo Core CPI y/y -0.5% -0.8% -1.0%

JPY Prelim Industrial Production m/m -1.9% -0.5% -0.5%

EUR German Retail Sales m/m -2.3% 0.5% -0.4%

EUR CPI Flash Estimate y/y 1.9% 1.7% 1.8%

EUR Unemployment Rate 10.1% 10.1% 10.0%

CHF KOF Economic Barometer 2.17 2.18 2.20

CAD GDP m/m 0.3% 0.3% -0.1%

CAD RMPI m/m -0.4% 1.5% 2.2%

USD Advance GDP q/q 2.0% 2.1% 1.7%

USD Advance GDP Price Index q/q 2.3% 1.9% 1.9%

USD Employment Cost Index q/q 0.4% 0.6% 0.5%

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Dec 07 2010 Sep 08 2010 1%

Bank of England Nov 04 2010 Mar 05 2009 0.50%

European Central Bank Nov 04 2010 May 07 2009 1%

Federal Reserve Nov 03 2010 Dec 16 2008 0.25%

Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%

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

Bank of Japan n/a Dec 19 2008 0.10%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, October 29,2010 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

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

1 week 0.86 -0.36 0.91 0.67 -0.51 0.67 -0.77 -0.86

1 month 0.91 0.48 0.81 0.00 0.31 0.90 -0.68 -0.66

3 months 0.94 0.49 0.97 0.85 0.81 0.93 -0.83 -0.85

6 months 0.94 -0.30 0.68 0.36 0.84 0.91 -0.65 -0.87

1 year 0.51 0.71 0.83 0.85 0.88 0.51 0.21 -0.62

2 years 0.38 0.48 0.51 0.76 0.76 0.39 -0.25 -0.62

Currencies CorrelationEUR/USD

NEW YORK: The dollar wasdown against the yen butedged up against the euro onFriday after US economic datadid nothing to reduce expecta-tions that the Federal Reservewill commit to a new round ofmonetary stimulus next week.

The dollar index, a measureof the dollar's performanceagainst a basket of six curren-cies, was flat as investors posi-tioned for an initial debase-ment of the currency on theFed announcement.

The yen hovered close to therecord peak value of 79.75 yento the dollar from 1995 withinvestors betting that the Bankof Japan will not intervene toweaken the yen before theFederal Reserve makes itsannouncement.

The Fed has telegraphed itsintent to boost growth bypumping more money into the

economy through direct gov-ernment bond purchases. Theonly uncertainty is how muchmoney the Fed is willing tospend.

A survey by the New York

Federal Reserve of dealers andinvestors included scenariosof up to $1 trillion, a figurelarger than recent estimates.

Analysts say possible sce-narios include the Fed startingat $80 billion to $100 billion amonth but leaving itself theoption to buy more.

US economic reports includ-

ed an advance read on USthird quarter gross domesticproduct, which expanded at a2.0 per cent annual rate, asexpected.

"With growth steady but

unimpressive and inflationpressures very benign, itunderscores the Fed's mostrecent message and their con-cern with the inflationaryreadings," said VassiliSerebriakov of Wells Fargo inNew York. "I do think it con-firms and perhaps reinforcesexpectations for the Fed's

quantitative easing move nextweek."

Midway though the NewYork session, the dollar wasdown 0.4 per cent at 80.49yen, off a low of 80.46 ontrading platform EBS. Stop-loss orders were reportedunder 80.40 ahead of a layerof bids from 80.30 to 80.00.

Friday's selling pushed thedollar toward a 15-year low of80.41 yen and near a recordtrough of 79.75 also set in1995.

The 80-yen level "seems tobe the new line in the sand,"said Greg Salvaggio, vicepresident of trading at TempusConsulting in Washington.

The euro fell as much as 1per cent to a session low of111.52 yen. The euro slipped0.2 per cent to $1.3900, leav-ing the dollar index down 0.1per cent at 77.278. -Reuters

Dollar down against yenas FOMC meeting looms

Swiss franc

gains vs euroZURICH: The Swiss franctraded slightly higher againstthe euro on Friday as risk aver-sion was on the rise after weakeconomic data out of Japan.

Markets were also digestingcomments by Swiss NationalBank officials who said the cur-rent expansionary policy wasappropriate and currency inter-ventions off the table for now.

The franc was up 0.3 per centagainst the euro compared tothe New York close, trading at1.3657 per euro at 0708 GMT.

"Over the last hours, the Swissfranc has been gaining groundbecause of weak data out ofJapan," Sarasin analystAlessandro Bee said, adding thatan expected fall in the KOF eco-nomic barometer, due at 0930GMT, may weaken the franc.Board member Jean-PierreDanthine said deflation riskshad now eased making interven-tion in the currency markets toweaken the Swiss franc unnec-essary for the time being.

The franc was 0.1 per centlower against the dollar at0.9847 per dollar. -Reuters

SHANGHAI: Spot yuan closedup against the dollar on Fridayand traded above the mid-pointset by the People's Bank ofChina, as the market eyes yuanappreciation ahead of a slew ofpolitical events in November.

US President Barack Obamaand Chinese President Hu Jintaowill discuss the global economyand trade among other issueswhen they meet on Nov. 11 onthe sidelines of the G20 summitin Seoul, the White House saidon Thursday.

The United States wantsChina to allow its yuan currencyvalue to rise to aid US exports,and this issue is expected to be acentral part of the G20 summitof advanced and emerging eco-nomic powers in South Korea.

China typically grants good-will gestures ahead of politicalevents that boost pressure foryuan appreciation. Ahead of theprevious G20 summit in lateJune, the government abolisheda nearly two-year peg of theyuan to the dollar on June 19.

There will be a slew of otherpolitical events in the UnitedStates in November, so manydealers expect the PBOC to letthe yuan rise to around 6.60against the dollar by late in themonth.

The yuan closed at 6.6708against the dollar, up fromThursday's close of 6.6874. Ithas now risen 2.33 per centsince the PBOC depegged itfrom the dollar on June 19.

The PBOC set the mid-point,or its reference rate from whichthe yuan can rise or fall 0.5 percent in a day, at 6.6908 onFriday, stronger than Thursday's6.6986. The yuan never tradedas weak as the mid-point onFriday, with an intraday low of6.6840.

Offshore, benchmark one-year non-deliverable forwards(NDFs) fell to 6.4470 bid inlate trade, from Thursday'sclose of 6.4600, with theirimplied 12-month yuan appre-ciation rising to 3.78 per centfrom 3.69 per cent. -Reuters

Yuan up, trades abovecbank mid-point

SYDNEY/WELLINGTON: The Australiandollar was on track for its worst weekly per-formance in over two months on Friday, as somecautious investors took profits in one of theyear's best-performing major currencies.

The Australian dollar was a shade softer at$0.9762, down from $0.9779 seen late in NewYork. A few stop-loss sell orders lay below sup-port at $0.9740, a break of which could extendlosses to Oct 19 and 20 lows of $0.9662.

For the week, the currency was down 1.1 percent, a modest decline but still its weakest weeksince August 15, a testament to how well it hasdone this year. It is the second best-performingmajor currency after the yen this year, havingjumped 8.8 per cent since January.

Some traders said they wanted to take profitsbefore next week, which may be a volatile ridefor markets with central bank meetings inAustralia, the United States, Britain and Europe.A tepid rise in domestic private sector credit wasan additional drag as it argued for the ReserveBank of Australia (RBA) to not raise interest

rates at its Nov 2 meeting. After this week's tame inflation report, the

RBA's meeting next week is seen to be a closecall. Even though the central bank has said timeand again rates would rise from 4.5 per cent,many think it is in no hurry to tighten so soon.

A Reuters poll of 20 analysts showed 14thought there would be no hike.

The NZ dollar, which has outperformed itsAussie neighbour in recent sessions, was softeraround $0.7538 after trading in a narrow$0.7527/55 range. Unlike the buoyantAustralian economy, the New Zealand economyhas struggled and recent data has pointed to ratesbeing kept on hold until March next year.

But the kiwi has risen about 4 per cent sincethe start of the year, thanks to the global sell-down in the US currency.

A mixed batch of NZ data on Friday did littlefor the currency, with the annual trade surpluswidening slightly, while new building approvalsedged up 0.5 per cent, pointing to a subdueddomestic economy. -Reuters

Australian $ dips; worstweek in over two months

SEOUL: Emerging Asian cur-rencies steadied on Friday asinvestors waited for the FederalReserve's policy meeting nextweek.

Investors predict the Fed willease policy further and thefocus is on the size and theduration of the expected policyaction. "If the Fed announceswhat markets are expecting,Asian currencies will be kept inrecent ranges. But if the Fedpresents bigger easing, we willsee Asian currencies rising oneor two per cent more before theend of this year," a KualaLumpur-based dealer said.

A New York Fed survey ofdealers and investors included

scenarios of up to $1 trillion forthe Fed's asset programme nextweek, a figure larger thanrecent estimates. Analysts in aReuters poll said the Fed couldbuy $80 billion-$100 billionworth of assets a month.

Flows into emerging marketfunds slowed significantly inthe fourth week of October asinvestors awaited a Nov. 2-3Federal Reserve meeting whereit could launch a fresh round ofasset buying to bolster thestruggling US economy.

Investors also remained waryof possible measures in theregion to check hot moneyinflows. Earlier, South Korea'stop officials warned of regula-

tions and the Philippine centralbank said it will continue toreview its foreign exchangerules after it had approvedmeasures relaxing restrictionson forex outflows.

The Thai baht eased a tad inearly sluggish trade as investorssquared positions ahead of theFed's decision next week. "Asiancurrencies are mostly stable witha slight 'risk-off' tone despite theeuro's overnight rebound and astronger yuan. It's tricky to spec-ulate on the QE impact but themarket expects the Fed to try tomoderate volatility. We may seethe baht testing 30.00 today amidthis uncertainty," a Bangkok-based trader said. -Reuters

Asian currencies

Mostly steady; eyes onFed QE's size, direction

LONDON: Sterling hit a three-week high against the euro onFriday, continuing to outperformafter strong UK gross domesticproduct data earlier this weekmade more monetary easing bythe Bank of England less likely.

The pound also gained againstthe dollar. It hit a two-week highat $1.6010, as the greenback fellbroadly as expectations the

Federal Reserve will announcemonetary easing next weekremained intact despite datashowing the US economy grew 2per cent in the third quarter.

Investors remained cautiousdue to uncertainty over the size ofmonetary easing, which the Fed isexpected to announce onWednesday after a two-day policymeeting. By 1506 GMT, sterlingwas up 0.3 per cent at $1.5996.On the week, it was on track torise almost 2.1 per cent, its high-est weekly gain since early April.

Data on Friday showed British

mortgage approvals came inslightly better than expected inSeptember, but still fell to thelowest since February, whileoverall credit was subdued.Market reaction was limited asthe data suggested the housingmarket remained fragile andbroader credit conditions weretough. But it failed to convinceeconomists the BoE would start a

new bout of quantitative easing(QE) when it meets to decidepolicy next week.

The euro fell 0.5 per cent to86.95 pence after dropping to86.81 pence, its lowest since Oct.5, and its biggest weekly losssince early June.

Gains versus the euro helpedtrade-weighted sterling rise to athree-week high of 80.2.

Sterling has performed wellsince figures earlier this weekshowed the UK economy grewtwice as fast as expected in thethird quarter. -Reuters

Stg rises as easingexpectations recede

Taiwan dollarstrengthens

TAIPEI: The Taiwan dollarclosed higher on Friday follow-ing brisk exporter purchases formonth-end cash needs at homeamid fears that prices couldsurge next week if US mone-tary authorities take bold quan-titative easing steps.

The local dollar ended atT$30.782 per US dollar com-pared to Thursday's final priceof T$30.824 after a sessiondominated by nervousexporters ahead of a USFederal Reserve meeting onNov. 2-3.

"Most of Friday's trade wasdone by exporters, I'm guess-ing, and the central bank didn'tintervene too heavily," a for-eign bank currency dealer inTaipei said.

A Reuters poll showed dealerforecasts on the total size of arenewed Fed purchase pro-gramme ranging between $250billion and $2 trillion, withmost expecting purchases ofbetween $80 billion and $100billion per month.

Taiwan's central bank was seenselling local currency on Fridayto control volatility, but itstopped short of erasing gains. Ithas bought roughly $5.5 billionin US currency since Sept. 27,according to an IFR Markets sur-vey of traders. -Reuters

Focus remains on FOMC and how much easing is in store

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

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

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

use of these reports and recommendations.

Prudent decisionimpossible

sans credible dataIt is often said 'Pakistan is the cotton country' but

the harsh reality is that it has the worst managedtextiles and clothing industry. There was ademand to establish a separate Textile Ministrybut the situation hasn't improved a bit after cre-ation of this ministry. The dismal state of theindustry can be attributed to presence of groupshaving vested interest and government's failure tomake prudent decisions.

The height of apathy could be gauged from thefact that every year farmers, ginners and spin-ners give contradictory figures about the cottonoutput, simply because they have conflictinginterest. Often the spinners raise a hell aboutshortfall of cotton in the country but alsoemerge the biggest exporter of raw cotton. Thisdismal state of affairs is because the governmentfollows no scientific method for estimating cot-ton crop. Production data can be termed wildguess at the best.

Spinners also say that cotton productionremains below the demand. However, the dataabout installed as well as operating spindlesand rotors is very scanty. The annual reportpublished by All Pakistan Textile MillsAssociation does not provide the correct num-ber of installed and operating capacities. Someexperts suspect the understatement of installedand operating capacities is an attempt to showelectricity and gas consumption on the lowerside as well as avoiding payment of taxes.

Textiles and clothing industry is being repre-sented by nearly three dozen associations. Tilltextile quota was in force the numbers wereclose to actual because of maintaining pass-books. However, after the complete phase out ofquota regime only limited data is made avail-able by the manufacturers and exporters to therespective associations. As such many criticssay that trade associations are the platforms forpersonal projection and office bearers oftenbelong to certain groups. They follow 'youscratch my back and I scratch your back' policy.It goes without saying that the small and medi-um enterprises, the backbone of textiles andclothing industry are neither represented nor lis-tened to by the business leaders.

Pakistan initiated a satellite based cottonestimation project, which fall prey to the poli-tics of association. Now two power groupsexist in textiles and clothing industry, whichare cotton growers and spinners. These groupsare represented in provincial and nationalassemblies and senate and also influence gov-ernment policy. However, the voice of valueadding sector is hardly heard because thisgroup mainly comprises of small and frag-mented units.

There may be a dozen committees at federaland provincial levels said to be responsible foroverseeing the affairs textiles and clothingindustry but the output or contribution is disap-pointing. It seems highly disgusting thatPakistan is among the top five cotton growingcountries and its economy and exports are heav-ily dependent on cotton but the decision makersdo not know the cotton output or consumptionnumbers. How can any one expect any prudentdecision when it is free for all?

4Saturday, October 30, 2010

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

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

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

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Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 84

Qutubuddin

Anew state-of-the-artgrain and fertilizerterminal has been

inaugurated at Port Qasim ata cost of Rs10 billion on 22acres of reclaimed land. Thenew terminal would not onlysave handling cost and timeas it would directly dischargegrain and fertilizer from bulkcarriers anchored at PortQasim and load them into thecontainers for onwards trans-portation to upcountry.

The project, a joint ventureof Fauji Foundation, AkbarGroup and National Bankwill place Pakistan amongthe nations having modernharbor facilities and offeringlower cost of handling butalso increase foreign

exchange earning andenhance tax collectionthrough greater transparency.

Built at a cost of $135 mil-lion, having 300-meter longjetty with depth of 14.5meters, the terminal canaccommodate ships up to75,000 tonnes capacity. Theterminal has cargo handlingcapacity of 4 millions tonsannually with the storagecapacity of 100,000 tons ofdry cargo.

Inaugurating the new ter-minal, Prime Minister SyedYousuf Raza Gilanidescribed it as the need of thehour which would alsoreduce the cost of importingcommodities, lower infla-tion, reduce wastage andsave time.

After inaugurating the ter-minal by unveiling a plaque,the Prime Minister was takento a quick round of the facil-ity but surprisingly none ofthe guests or even represen-tatives of the national mediawere shown the facility orsupplied with data providingbasic details of the project,which otherwise looks

impressive and would hope-fully increase the port effi-ciency and country's capacityto store food grain at its silosand help in saving the coun-try from possible shortagesin the aftermath of floods.

One can only hope that theproject is run efficientlythrough a transparent opera-tion to yield the benefits it issupposed to bring.

Last week I was more thenhappy to hear news on TVthat the Pepco has decidedthat because of 3000 MWreduction in demand due toweather change, there will beno more load shedding in thecountry including Karachi.

But for the poorKarachiites, the good newsproved only short lived. Thesame evening the much criti-cized and talked aboutKarachi Electric SupplyCompany (KESC)announced it would raise theload shedding duration fromnormal 3-4 hours to 8-10hours a day owing to gasshortage.

The KESC not merelyannounced this but started

implementing it from thesame evening claiming it hasat its disposal 1900 MW ofelectricity while the demandranged from 2100MWto2300 MW.

The KESC claimed that itwas forced to increase loadshedding spell because it wasnot receiving natural gas inrequired quantity from theSui Southern Gas Company(SSGC) due to closure ofZamzama gas field for annu-al turn around. The KESCprefers to produce powerthrough gas as it was quitecheaper costing just Rs4.50per unit.

My question to the KESCbosses is when it is charging3 times higher tariff frommillions of consumers thenwhy should it make them suf-fer and avoid use of furnaceoil for power generation.There seems no justificationfor this act.

The matter is also underscrutiny in a reference peti-tion challenging privatisationof KESC. In the petition, theChairman of Law Foundationreferred to the fact that

according to analysis of aNepra unit cost of electricitycomes to Rs4.50 while it wassold to consumers at Rs13per unit.

The consumers are alsoforced to pay sales tax ontheir bills illegally becausesales tax applies to the sellerof the electricity and not onend users. The petition whichis pending before a divisionbench of the Sindh HighCourt also seeks a relief forthe consumers from fueladjustment charge.

Now some thing about thetuition fees being charged byprivate schools, which hasbeen increased from 15 to 60per cent in Karachi.According to a report, privateschools have increased thefees unilaterally withoutseeking prior approval fromthe Directorate of Education.Surprisingly, the Directoratedoes not seem interested inchecking this illegal increasein fees for obvious reasons.'Cordial' relations with pri-vate schools managementmatter more to them then theinterest of a common man.

Eyes & Ears

Jawed Iqbal

All that glitters is not gold buthow pure is the glittering gold?Even the most experienced

jeweller cannot tell how much pre-cious metal i.e. gold is there in a jew-ellery article, just by looking at it.Price, color or weights do not revealthe amount of alloying metals thathave been added to a piece of jew-ellery whether it is coated or plated bygold. Though, the local jewellers arefamiliar with the internationally recog-nized standards of quality assurance,still some uncertainty prevails in theminds of jewellers and manufacturesbecause the gold items purchased fromdifferent sources cannot be certified.Due to non-existence of proper analyt-ical facilities, some cases of the under-coating or the proper ratio of contentshas claimed. The need to protect the

creditability of the gold jewellery hascalled for introducing hallmarking.

Hallmarking is assurance/certifica-tion of the quality of gold used in jew-ellery through an internationallyaccredited independent body. It is aninternationally recognized system ofquality assurance of precious metals. Itis envied by many countries in order toboost their trade of precious metalsand to protect the consumers.

Assaying can be best described as ananalytical test of determining goldcontent in the gold jewellery and thecertification of the gold contentagainst standards is termedHallmarking. To be more precise; itrefers to the fineness denotes the actu-al content of precious metal in thealloy used and Hallmarking refers tothe physical marking a piece of jew-ellery according to specific laws tocertify the purity of metal. Hallmarks

are small markings stamped on gold,silver, palladium and platinum articles.

Buying Hallmarked Jewellery isbeneficial in many ways. Buyer isassured of the gold content, hence thevalue of the purchase. It protects thepublic against fraud and tradersagainst unfair competition and it willensure that mixing of other metals ingold will be within the permitted lim-its in accordance with the gold stan-dards. It is also useful in case of resaleas there would be no doubt about thegold content.

Assaying and Hallmarking are thethird party quality control and theassurance tools for the jewelleryindustry. Hallmarking is the solution toa conventional jewellery retaileragainst threat of branding and brandedjewellery. It is the authentication of theaccurate ratio of valuable metals andbase metals used internationally in the

jewellery making.There is a dire need for introducing

Assaying and Hallmarking in Pakistan.Hallmarks are thus authorized series ofmarks onto precious metals used inmany countries as a guarantee of puri-ty and quality. Pakistan will surelyattract the foreign direct investmentonce the Hallmarking is introduced inthe jewellery manufacturing Industryand setting up of Assaying &Hallmarking Offices.

By introducing Hallmarking of jew-elry in Pakistan awareness can be cre-ated among jewelers, consumers andtraders that will help in overcomingthe declining image of the Pakistanijewelry and credibility in the globalmarkets. It will provide broader baseof exports of gold jewellery and willbe used as marketing tool eventuallydeveloping Pakistan as a reliable mar-ket of jewellery.

Advantages of Hallmarking

Ehtisham Amir

It is naïve to expect that the USadministration, backed with reportsof various think-tanks, does not

understand the meaning of word 'strate-gic'. But when it comes to dealing withthe "Staunchest of ally" word 'strategic'is conveniently given new meaning,synonymous with cosmetic or at besttactical initiatives.

The Pakistan-US strategic dialogue,arranged with such pomp and show, hasstarted losing the steam in its thirdround. Though you need two to make aquarrel, Pakistan has however, done farmore than any nation can be expectedto foster or strengthen a relationship.

Doling out few millions here andthere, providing opportunity for photoshoots in glittering corridors of CapitolHill does not fit in the word "strategic"in the wildest of the sense. Outcome ofrecent dialogue is no different than theearlier sessions.

Pakistan-US relations have alwaysbeen issue-specific and never beenbroad ranging. Geo-strategic locationof Pakistan has been the reason toattract US interests. History of relationshas been roller coaster, where the UShas always engaged Pakistan to accruea specific foreign policy advantage andwalked away when no more needed.Worst, periods of honeymoons haveusually ended into heralding an era ofharsher sanctions and arm twisting.

When strategic relations are to beestablished, both sides, despite asym-metry of power potential, have to chalkout a long term commitment. Both haveto take each others' limitation and sen-sitivities into cognizance. Carrot has tobe used more often than the stick. IfPakistan can truly boast off any strate-gic relations, it is with China and fewMuslim countries. Relations may havehad periods of chill or thaw but havenever been pushed to the point of beingconsidered a burden or regret. On thecontrary, Pak-US relations can beascribed to the category of patron-clientor worst, as transactional relationswhere both sides have few money bagsas the cost of relations. When we viewour present engagement with the USover the last one decade, we clearly seean imperial mindset in action. There isnothing remotely resembling "strate-gic" in this chapter of engagement,

which is fast nearing another ignomin-ious end.

What could be strategic interest ofPakistan which needs US support toaddress? Any street smart can countthem on finger tips of one hand. AndUS negotiators are smarter than streetmen to have precisely never addressedthose issues. Foremost of our currentstrategic interests, is economic stabilityand bringing economy to sound foot-ings. Without this, no other policy candeliver results. Policy issues and not theperipheral issues should be addressed.And in this arena, we witnessed pre-cisely opposite of "strategic."

Pakistan has been demanding greatermarket access for its textile industry.We have been denied this in the last"decade of ignominy" beginning with

9/11. In fact, Pakistan has suffered onthis account since 1971 when the USarbitrarily halved our quota and grantedto Bangladesh which had no textile sec-tor worth its name. Forty years of injus-tice is a sufficient cause of resentment.In times of Jargons like "Free Trade"etc, placing quota barriers clearly mockthe US intentions. We do not find anyletup on this simmering issue in presentround of dialogue. Is it that the US haskept this issue as bargaining chip forrainy days?

Pakistan has been screaming for reso-lution of this issue which would allowits economy to rejuvenate at its ownwithout the aid. US officials have beencynically commenting about China andMuslim countries for not providing"sufficient" aid to Pakistan during floodrelief operations. But that's not for theUS to decide nature of our engagementwith other nations. This diplomaticoverture speaks volumes about imperialmindset of the US. How does the US

expect Pakistan to engage with them inmutually rewarding relations when it isonto damage our strategic interests inthe process?

We are to be blamed partly for thesorry state of our economy.Mismanagement, corruption and lop-sided policies of our economic man-agers are a reason for dismal situationwe are into. But this is a byproduct ofour foreign policy decision to serve as aclient to US in Afghan war. Domesticterrorism was within manageable limitstill 9/11. But due to parochial policiesof the US, imposed on us, we are intothis predicament. Our economic healthhas deteriorated to a point where noshort term measures can resuscitate it.Who in his sanity would invest in acountry where power outage is a norm,

where threat of terrorism is reachingepochal proportion? Conservative esti-mates place our losses to a staggeringUS$50 billion due to our participationin the US-led war on terror. CanPakistan be termed greedy whendemanding proportional assistance?

This is strategic issue of the time andfor next two to three decades to come.But the US feels contented with overpublicized the Kerry-Lugar Act whichpromises (yet to be manifested) US$7.5billion, spread over five years.

The US has withheld payments ofalready agreed Coalition Support Fund,which has now reached an astoundingtwo and half billion dollars. Instead ofroutinely reimbursing the CSF, it takesPakistan additional and hectic diplo-matic effort to recover what is our right.And then US officials turn bitter andamazingly ask as to why people ofPakistan hate them?

Next strategic issue which the US canhelp resolve and on which it has repeat-

edly declined to use its leverage isKashmir dispute, an issue on whichpeace in South Asia hinges. Pakistanexpects the US to use its clout toresolve the issue amicably.Unfortunately it is not so. With suchsimmering volcano, how can Pakistanbe expected to enact paradigm shift inits security doctrines? Pakistanishaven't forgotten Indian muscle flexingin the wake of Mumbai incident of2008. Kashmir is in the grip of popularuprising movement which can spiralout of Indian control and can wreckhavoc to fragile peace of South Asia. Itcan also cause Pakistan to lose focus onAfghan crisis at a time when the USplans to withdraw its forces and createnew strategic imperatives in the region.If USA has failed to realize Pakistan'snational priorities, Pakistan should notbe expected to toe its policy towardsAfghanistan.

Pakistan's next strategic concern isforeign sponsored terrorism. If Pakistanis whipped every now and then for notdoing "enough" to help the US over-power Afghan resistance, some chargescan be placed at American doors whenit comes to TTP activities andupheavals in Balochistan. Afghanistanis under de-facto US occupation. If onlythe US was to satisfy Pakistan on thisissue, Pakistanis may feel a sense ofgratitude. Ironically, this issue hasaggravated due to the hype of "trustdeficit". Both nations have not syner-gized their efforts to curb a commonenemy i.e. terrorism. USA and Pakistanhave divergent views on how to fightthe war on terror. Amazingly what isharmful to one is trump card of theother. If only this issue is tackled byproverbial "holding the bull by thehorn", trust deficit can transform intotrust surplus. It takes two to make atango.

Process of strategic dialogue has beenwidened to cover peripheral issues likewomen empowerment, reforms in edu-cation and judicial sectors at the cost ofcore issues. With over a dozen issues onagenda, such process can turn intoquagmire, yielding nothing concrete.Unless the US identifies and focuses on"real" issues which Pakistan can nevercoerce the US to realize, strategic dia-logue will only add to the list of brokenpromises and widen the trust breachbetween the two countries.

Strategic Dialogue orProcedural Quagmire

Doling out few millions here andthere, providing opportunity for

photo shoots in glittering corridors ofCapitol Hill does not fit in the word

"strategic" in the wildest of the sense.Outcome of recent dialogue is nodifferent than the earlier sessions.

“

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

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

Sales (July 09 to June 10) 73,993

Production (July 10) 7,509

Sales (July 10) 4,503

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

Sales (July 09 to June 10) 50,823

Production (July 10) 5,162

Sales (July 10) 4,999

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

Sales (July 09 to June 10) 14,120

Production (July 10) 1,560

Sales (July 10) 1,272

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

Sales (July 09 to June 10) 1,371

Production (July 10) 41

Sales (July 10) 40

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

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

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

Spread (July 2010) 7.51%

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

MS (July 10) 188

Kerosene (Jul 09 to June 10) 164

Kerosene (July 10) 15

JP (Jul 09 to June 10) 1,377

JP (July 10) 129

HSD (Jul 09 to June 10) 7,435

HSD (July 10) 664

LDO (Jul 09 to June 10) 75

LDO (July 10) 7

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

Fuel Oil (July 10) 869

Others (Jul 09 to June 10) 13

Others (July 10) 1

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

MS (1 Aug 10) 41.22

MS % Chg -0.90%

Kerosene (1 Sep 10) 47.14

Kerosene (1 Aug 10) 46.55

Kerosene % Chg 1.27%

JP-1 (1 Sep 10) 47.37

JP-1 (1 Aug 10) 46.78

JP-1 % Chg 1.26%

HSD (1 Sep 10) 50.61

HSD (1 Aug 10) 49.63

HSD % Chg 1.97%

LDO (1 Sep 10) 46.37

LDO (1 Aug 10) 45.29

LDO % Chg 2.38%

Fuel Oil (1 Sep 10) 39,932

Fuel Oil (1 Aug 10) 39,723

Sector Updates

Symbol Close Vol (mn)NBP 64.61 9.54 NPL 15.14 6.73 FFBL 31.16 6.28 NCPL 14.09 5.55 JOVC 4.07 5.34

Symbol Close ChangeULEVER 4,088.67 63.54 SIEM 1,249.46 44.46 RMPL 1,681.06 30.06 NESTLE 1,973.48 24.42 FZTM 453.50 18.21

Symbol Close ChangeUPFL 1,000.00 -50SRVI 207.95 -10.94PECO 291.48 -8.51MTL 480.89 -6ATBA 155.91 -5.38

Plus 153Minus 196Unchanged 22

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Saturday, October 30, 2010 5

Opening 10,634.99

Closing 10,598.40

Change 36.59

% Change 0.34

Turnover (mn) 103.97

Opening 3,313.50

Closing 3,300.73

Change 12.77

% Change 0.39

Turnover (mn) 5.61

Opening 2,696.37

Closing 2,696.46

Change 0.09

% Change 0.00

Turnover (mn) 0.15

ANNOUNCEMENTS

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

Faysal Bank 3rd Qtr 20%(B) 1807.576 2.97

Ados Pakistan 1st Qtr - 25.516 3.88

AL-Abid Silk XBXR 1st Qtr - 22.181 2.32

Amtex Limited XD 1st Qtr - 27.628 0.11

Aruj Garments 1st Qtr - 2.296 0.37

Asim Textile 1st Qtr - 14.200 0.94

Atlas Engineering 1st Qtr - 6.957 0.28

Attock PetroleumXDXB 1st Qtr - 875.113 15.19

Attock Refinery 1st Qtr - 583.324 6.84

Brothers Textile 1st Qtr - -3.725 -0.38

Central Forest 1st Qtr - -0.720 -0.24

Century Paper 1st Qtr - 7.595 -1.29

Constellation Mod 1st Qtr - 0.727 0.11

Dar-es-Salaam 1st Qtr - -15.032 -1.88

Elahi Cotton 1st Qtr - 0.977 0.75

Equity Modaraba 1st Qtr - 2.160 0.04

F. Nat.Equities 1st Qtr - -45.456 -0.79

Fatima Enterprise 1st Qtr - 114.507 8.05

Ghandhara Ind. 1st Qtr - 5.766 0.27

Ghandhara Nissan 1st Qtr - 16.028 0.36

Golden Arrow XD 1st Qtr - 52.631 0.35

Grays Leasing 1st Qtr - -12.117 -0.56

Gul Ahmed Tex.XD 1st Qtr - 110.349 1.74

Gul Ahmed Tex.XD(Consolidated) 1st Qtr - 107.055 1.69

Hala Enterpries 1st Qtr - -5.525 -1.46

Idrees TextileXD 1st Qtr - 4.241 0.23

Indus Dyeing XD 1st Qtr - 505.052 27.94

J.A.Textile 1st Qtr - -2.050 -0.16

Kohinoor Mills 1st Qtr - -289.864 -5.69

Kohinoor Mills(Consolidated) 1st Qtr - -298.575 -5.86

Land Mark Spinning 1st Qtr - -0.164 -0.01

Liberty Mills XD 1st Qtr - 107.599 4.76

Maqbool TextileXD 1st Qtr - 15.189 0.90

Masood TextileXD 1st Qtr - 142.143 2.37

Mian Textile 1st Qtr - -10.708 -0.48

Mod.Al-Mali 1st Qtr - 0.483 0.03

National Silk XD 1st Qtr - -0.868 -0.78

Nishat Chun Power 1st Qtr - 418.858 1.14

Pak Datacom Ltd.XD 1st Qtr - 31.740 4.05

Pak Oilfields XD 1st Qtr - 2232.789 9.44

Pak Services 1st Qtr - 59.166 1.82

Pak Synthetics 1st Qtr - 41.538 0.74

Pakistan Cables 1st Qtr - 7.967 0.37

Paramount Mod XD 1st Qtr - 1.772 0.32

Regent Textile 1st Qtr - 4.860 1.02

Sally TextileXD 1st Qtr - 44.170 5.03

Shams TextileXD 1st Qtr - 65.436 7.57

Sind Fine Textile 1st Qtr - -0.051 -0.02

Sunrays TextileXD 1st Qtr - 111.971 16.23

Tariq Glass Ind. 1st Qtr - 48.198 2.09

Thatta Cement 1st Qtr - 0.625 0.01

Towellers Limited 1st Qtr - -6.672 -0.39

United Brands 1st Qtr - -36.344 -30.29

United Distributors 1st Qtr - -9.874 -1.08

Bank Al-Falah 3rd Qtr - 1501.517 1.11

Bank Of Khyber 3rd Qtr - 278.645 0.56

EFU General InsXB 3rd Qtr - -685.619 -5.48

EFU Life Assur.XB 3rd Qtr - 112.241 1.32

National Bank(Consolidated) 3rd Qtr - 11412.914 8.48

National Bank(Unconsolidated) 3rd Qtr - 11363.430 8.45

Pak Elektron Ltd. 3rd Qtr - 349.696 2.98

Royal Bank 3rd Qtr - -1815.345 -1.11

Shaheen Insurance 3rd Qtr - -33.381 -1.67

Stand.Chart.Bank(Consolidated) 3rd Qtr - 1986.109 0.50

Stand.Chart.Bank(Unconsolidated) 3rd Qtr - 1907.829 0.49

UniLever Pak 3rd Qtr - 2136.000 160.66

WorldCall Telecom 3rd Qtr - -744.230 -0.86

Mostly higher;

Manila outperforms

South East Asian stocks

Europe stocks inch

up on stimulus hopes

NOTE:*100%SD shares of Fatima Fertilizer Co.ratio of 1:1(D)

US stocks mid-day

Wall St flat asFed meeting,

elections

approachNEW YORK: U.S. stockswere little changed on Fridayas investors continued toassess prospects for monetarystimulus by the FederalReserve and ahead of elec-tions that could change thebalance power in Washington.

Market action in the lastseveral weeks has been dic-tated by prospects the Fedwill announce another roundof asset buying nextWednesday. Mid-term elec-tions next Tuesday have alsopreoccupied investors, withpolls indicating a Republicantakeover of the House ofRepresentatives.

Analysts said the govern-ment's gross domestic prod-uct report was positive, show-ing 2 per cent annualizedgrowth rate in the third quar-ter as forecast, but the datatook a backseat to stimulusspeculation.

"There's big news nextweek, and most of it is builtinto the market, some ideasabout how many pro-businesspeople will move toWashington and how proac-tive the Fed will be," saidRichard Sichel, chief invest-ment officer at PhiladelphiaTrust Co.

"In both cases, investorshave been fairly optimisticfor some months now aboutwhat we'll see. When we doget that next week, the marketwill probably get back tolooking at earnings," Sichelsaid.

With 335 of S&P 500 com-panies having reported so far,some 77 per cent have beatenearnings estimates. That isjust shy of the record beat rateof 79 per cent in the thirdquarter of 2009, according toThomson Reuters data.

Still, earnings have taken aback seat to macroeconomicnews.

The Dow Jones industrialaverage dropped 2.73 points,or 0.02 per cent, to 11,111.22.The Standard & Poor's 500Index dropped 0.34 point, or0.03 per cent, to 1,183.44.The Nasdaq Composite Indexgained 6.51 points, or 0.26per cent, to 2,513.88.

While the S&P 500 is flat sofar this week, the index is upalmost 4 per cent for themonth, and investors couldtake the opportunity to lock inprofits during the session.Reuters

Ghulam Raza Rajani

Pakistan Oilfields limited(POL), Attock petroleumLimited (APL) and AttockRefinery Limited (ATRL), thesubsidiaries of the Attock OilCompany Limited announcedtheir financial results on Fridayfor the first quarter FY11 end-ing September 30.

POL- profit after tax surgedby 56.6 per cent to Rs2.23 bil-lion (EPS: Rs9.44) againstRs1.42 billion (EPS: Rs6.03)for corresponding period oflast year. This increase isattributable to the surge in oiland gas volume. Net sales ofthe company increase by 69.8per cent to Rs5.39 billion for1QFY11 from Rs3.175 billionduring the corresponding peri-od last year. Gross profit

increased by 70.4 per cent toRs3.21 billion as compared toRs1.88 billion for the sameperiod last year. Explorationcost went up by 97.6 per centto Rs105 million in 1QFY11 ascompared to Rs53 million for1QFY10. Administrativeexpenses hiked by 83 per centto Rs20.13 million as com-pared to Rs11 million for cor-responding period last year.

APL - profit after tax surgedby 19.3 per cent to Rs 875 mil-lion (EPS: Rs15.19) as com-pared to Rs 734 million (EPS:Rs12.74) over the correspon-ding period of last year. Netsales revenue for the periodsurge by 11.2 per cent toRs18.38 billion from Rs16.54billion, mainly due to hike involumetric sales and prices,

See # 9 Page 11

POL, APL, ATRLannounce results

Nawaz Ali

KARACHI: Bearish activitiescontinued at the Karachi StockExchange on the last day of theweek. The benchmark indexKSE-100 closed below 10,600levels due to profit taking withresults season almost over.Selling was also witnessed dueto announcement of resultsbelow expectations.

The benchmark KSE 100-index shed 36 points to close at10,598 levels while KSE 30-index lost 46 points to close at10,154 levels and KSE all-share index lost 28 points toclose at 7,382 levels.

"Bearish activity continuesafter major earning announce-ments", said Ahsan Mehanti,Director Arif Habib Investments.

Concerns regarding risingcircular debt in Pakistan energysector, gas supply issue facingtextile sector and falling inter-national oil prices close to $81affected investors' sentimentnegatively, he added.

After a negative opening ofthe first session, marketshowed some volatile activitiesthroughout the day moving onboth sides between 10,660points (+ve 25 points)and10,569 points (-ve 65points) as investors preferred tobook profits as almost all theblue chip companies haveannounced their corporateresults while decline in interna-tional oil prices also invitedselling pressure in the market.The index remained in the bear-

ish territory during the mostpart of the day despite belowexpectation financial results ofPakistan Oilfields and NationalBank of Pakistan, furtherdamping investors' sentiments.

"A major U-turner was NBP,which went down by Rs3, afterspeculation of its EPS beingaround Rs6 for the 3QCY10turned out to be false, as itsactual EPS came to Rs2.45",said Arsalan Khan, equity deal-er at JS Global Capital.

Other major companiesannouncing their corporateresults during the day includedFaysal Bank, Attock Petroleumand Bank Al-Falah.

According to NCCPL data,local individual investors andmutual funds did a net sellingof $3.34 million and $0.99 mil-lion on Friday while banks andforeign investors did a net buy-ing of $3.65 million and $0.43million respectively.

Volumes too were slightlylower as 103.9 million sharestraded in the overall marketwhich were 6 million sharesless as compared to a turnoverof 109.9 million shares record-ed a day earlier.

National Bank emerged thevolume leader of the day with9.54 million shares exchanginghands followed by Nishat Powerand Fauji Fertilizer Bin Qasimwith 6.73 million and 6.28 mil-lion shares respectively.

Out of total 371 active issues;prices of 196 declined andprices of 153 advanced while22 issues remained unchanged.

KSE closes onnegative note

Faysal Bankto issue

bonus sharesStaff Reporter

KARACHI: Profit after tax ofFaysal Bank jumped toRs1.807 billion for the 3rdquarter ending September 30,2010 and Board of Directorsapproved issue of 20 per centbonus shares. According tofinancial results of the bankdispatched to Karachi StockExchange on Friday, the profitbefore tax has also surged toRs1.644 billion as earning pershare also climbed to Rs2.97during the period under reviewagainst last year's EPS ofRs1.51.

MUMBAI: Indian shares post-ed their first monthly decline infive months but closed 0.5 percent higher on Friday, proppedup by a late surge in ICICIBank, which soared after post-ing better-than-expected quar-terly earnings.

Investors await an eventfulweek marked by U.S. FederalReserve's two-day meet endingWednesday, Reserve Bank ofIndia's policy review onTuesday and Coal India's list-ing on the bourses on Thursdayfor directional cues.

Most economists participat-ing in Reuters' poll onThursday expected the centralBank to raise rates by at least25 basis points to rein in stub-bornly high inflation in the fastgrowing economy. It would bethe sixth increase since mid-March.

Top private lender, ICICIBank rose 6.5 per cent, its bestsingle-day gain in more than

15 months, as it beat forecastswith a 19 per cent rise in quar-terly net profit, helped byrobust credit growth and fewerbad debts.

The stock rose as much as7.7 per cent to 1,174 rupees, itshighest level since February2008.

The 30-share BSE indexedged up 0.46 per cent or 91.30points to 20,032.34, with onlynine of its components closingin the green.

"There is not much to read inthis month's decline. Therewere just bouts of profit salesafter the rally we saw inSeptember," said RakeshRawal, head of private wealthmanagement at brokerageAnand Rathi.

It declined 0.2 per cent thismonth, first monthly drop afterMay. The benchmark indexhad gained 11.7 per cent inSeptember which was its bestgain in 16 months.

"It is not a panic situation ora sign of big worry," saidRawal, adding he expectedSensex to test a new recordhigh by end-December.

The 30-share index is still up14.7 per cent year to date, asforeign funds have invested$24.7 billion in Indian equitiesin the period. It is around 1,200points away from its all-timehigh witnessed in January2008.

Though most earnings didnot disappoint the street, theylacked big positive surprises,which investors had started tofactor in the price, Rawal said.

India along with Singapore,Indonesia, Thailand andPhilippines slowed in terms ofearnings momentum in the lastthree months from the previousthree months while HongKong, China and Malaysiashowed an improvement, UBSsaid in a note on Thursday.

See # 12 Page 11

Indian shares post 1stmonthly fall in 5 months

TOKYO: Japan's Nikkei aver-age fell 1.8 per cent to a seven-week closing low on Friday asdisappointing earnings hitshares of companies such asSharp, with downwardmomentum accelerating afterthe index breached a key tech-nical support level.

Investors were keen to light-en long positions ahead of theweekend and before a blizzardof earnings reports due afterthe close on Friday and a high-ly anticipated Federal Reservepolicy setting meeting on earlyNovember.

"I realise exporter shares areunder pressure due to worriesabout a strong yen, but theNikkei as a whole has also farlagged behind the US andEuropean shares," said MasaruHamasaki, a senior strategist atToyota Asset Management.

"The Nikkei will likely catchup at some point and one cata-lyst may be the Fed's meeting,with eyes on whether it willdecide on additional easingmeasures on a scale in line withmarket expectations."

The benchmark Nikkei endeddown 163.58 points at9,202.45, its lowest close sinceSeptember 9, while the broaderTopix slipped 0.4 per cent to810.91.

Traders said foreign broker-ages could be actively sellingin the futures market on behalfof foreign hedge funds andother institutions.

Some said weak economicdata also put a damper oninvestor confidence. Japanesefactory output fell for thefourth straight month inSeptember, the longest streak

See # 11 Page 11

Nikkei hits7-wk closing low

Unileverprofit dips

TFD Report

KARACHI: Unilever Pakistanhas posted a lower profit after taxof Rs2.138 billion for the thirdquarter ending September 30,2010.According to financialresults dispatched to KarachiStock Exchange on Friday, theprofit before tax has slipped toRs3.233 billion during the periodunder review as compared toRs3.370 billion. Earning pershare also dropped to Rs160.66as compared to Rs172.43 for thecorresponding period last year .

China, HK

shares fall

as earnings

disappointHONG KONG/SHANGHAI:Hong Kong and Shanghaishares fell half a per cent onFriday as financials slid on dis-appointing earnings, and as astrong debut for Asian insurerAIA cut demand for rivals'stocks.

Hong Kong's benchmarkHang Seng index fell 0.5 percent to close just below the keytechnical level of 23,100points, sparking fears that itsrecent break above that levelwould not hold.

"Failed breakouts are to beshorted as those who bought onthe breakout will be forced tosell to cut losses and will thusincrease the selling pressure onthe stock or the index." said thehead of trading desk at aJapanese bank in Hong Kong.

AIA Group surged 17 percent in its first day of trade asinvestors piled into the recordoffering in the world's hottestIPO market, chasing exposureto Asia's fast-growing lifeinsurance business.

But insurers overall were thebiggest drag on the benchmarkindex after disappointing earn-ings from China Life accelerat-ed a shift of funds out ofChinese insurers into AIA.China Life fell 3 per cent.

Traders in Hong Kong saidthat AIA shares might find itsway into some FTSE and MSCIbenchmark indices earlier thanexpected, which would requireindex funds and exchange tradedfunds to buy into shares to adjusttheir portfolios accordingly.

Bank of Communicationsshares slumped 7.8 per cent,making it the top loser on theHang Seng, after it boosted itsprovisions for potential badloan losses, a specter that ishaunting many Chinese lendersdespite strong profit growth.

"It is the only major Chinesebank that reported a flat NPLratio, while others have fallen.There is concern that (the NPLratio) may climb later," saidPaul Lee, an analyst at Tai FookSecurities.

The Hang Seng rose 3.3 percent in October although aweak market since mid-October ate into gains asinvestors preferred to pare backlong bets ahead of the US

See # 10 Page 11

LONDON: Weakness fromminers and banks nudgedBritain's FTSE-100 indexslightly lower by the close onFriday, ending the month on awhimper after a strong runsince early September.

Energy stocks were the mainsupport for the index, with RoyalDutch Shell up 2 per cent as itsforecast-beating results fromyesterday were made to lookmore flattering still after disap-pointing figures from Chevronand Total on Friday.

BG Group added 2.1 per centahead of its results next week.BP rose 0.7 per cent after a USpresidential panel said contrac-tor Halliburton used flawedcement in the Gulf of Mexicowell that caused the worst off-shore oil spill in U.S. history.

The blue-chip index ended2.73 points lower at 5,675.16,making a 1.2 per cent fall thisweek after gaining for each of

the three previous weeks. Theindex has still recorded gainsof around 8.5 per cent since thestart of September.

"The bulls have slightly runout of Energy over the lastweek or 10 days," said AndrewBell, chief executive of WitanInvestment Trust.

"A lot of the available goodnews on corporate results andquantitative easing is in theprice, and there's no new rea-son for buying."

US economic growth edged upas expected in the third quarterbut not enough to chip away athigh unemployment or changeperceptions there would be moremonetary easing from the FederalReserve next week. An increasingconviction that the FederalReserve will print money to sup-port a fragile economy in theUnited States has pressured thedollar, lifted commodity pricesand boosted equities. Reuters

FTSE ends monthon a whimper

Saturday, October 30, 20106

Volume 103,969,308

Value 2,928,648,662

Trades 58,733

Advanced 153

Declined 196

Unchanged 22

Total 371

Current 7,382.41

High 7,428.58

Low 7,364.49

Change i28.04

Current 10,598.40

High 10,660.72

Low 10,569.12

Change i36.59

Current 10,154.91

High 10,210.95

Low 10,139.66

Change i46.27

Market KSE 100 Index All Share Index KSE 30 Index

Current 16,715.36

High 16,793.79

Low 16,681.53

Change i34.22

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

Crescent Jute Products Limited

CJPL closed down -0.27 at 0.68. Volume was 766 per cent above aver-

age (trending) and Bollinger Bands were 23 per cent narrower than nor-

mal. The company's loss after taxation stood at Rs82.763 million which

translates into a Loss Per Share of Rs3.48 for the year ended FY10.

CJPL is currently 50.7 per cent below its 200-day moving average and

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

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

indicators reflect moderate flows of volume out of CJPL (mildly bear-

ish). Trend forecasting oscillators are currently bearish on CJPL.

RSI (14-day) 44.66 Total Assets (Rs in mn) 733.50

MA (10-day) 0.83 Total Equity (Rs in mn) (57.43)

MA (100-day) 1.05 Revenue (Rs in mn) 1,000.00

MA (200-day) 1.26 Interest Expense 30.78

1st Support 0.60 Profit after Taxation 14.13

2nd Support 0.50 EPS 09 (Rs) 0.595

1st Resistance 0.85 Book value / share (Rs) (2.42)

2nd Resistance 1.00 PE 10 E (x) -

Pivot 0.75 PBV (x) (0.28)

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

DINT closed down -0.31 at 25.92. Volume was 2,476 per cent above

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

normal. The company's profit after taxation stood at Rs359.879 million

which translates into an Earning Per Share of Rs19.42 for the year

ended FY10.

DINT is currently 4.0 per cent above its 200-day moving average and is

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

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

very strong flows of volume into DINT (bullish). Trend forecasting oscil-

lators are currently bearish on DINT.

RSI (14-day) 53.51 Total Assets (Rs in mn) 3,166.89

MA (10-day) 24.48 Total Equity (Rs in mn) 1,102.67

MA (100-day) 26.46 Revenue (Rs in mn) 3,712.39

MA (200-day) 25.85 Interest Expense 142.46

1st Support 24.96 Profit after Taxation 32.55

2nd Support 23.96 EPS 09 (Rs) 1.756

1st Resistance 27.25 Book value / share (Rs) 59.51

2nd Resistance 28.54 PE 10 E (x) 1.33

Pivot 26.25 PBV (x) 0.44

Din Textile Mills Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

GHNL closed up 0.23 at 4.68. Volume was 1,336 per cent above aver-

age (trending) and Bollinger Bands were 56 per cent narrower than nor-

mal. The company's loss after taxation stood at Rs88.893 million which

translates into a Loss Per Share of Rs1.98 for the year ended FY10.

GHNL is currently 15.4 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 moderate flows of volume into GHNL (mildly bullish).

Trend forecasting oscillators are currently bearish on GHNL.

RSI (14-day) 53.83 Total Assets (Rs in mn) 3,392.10

MA (10-day) 4.41 Total Equity (Rs in mn) 698.25

MA (100-day) 5.34 Revenue (Rs in mn) 2,053.96

MA (200-day) 5.53 Interest Expense 344.95

1st Support 4.37 Loss after Taxation (312.17)

2nd Support 4.06 EPS 09 (Rs) (6.937)

1st Resistance 5.11 Book value / share (Rs) 15.52

2nd Resistance 5.54 PE 10 E (x) -

Pivot 4.80 PBV (x) 0.30

Ghandhara Nissan Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

SEPCO closed up 0.22 at 2.32. Volume was 1,376 per cent above aver-

age (trending) and Bollinger Bands were 25 per cent narrower than nor-

mal. The company's loss after taxation stood at Rs86.56 million which

translates into a Loss Per Share of Rs0.63 for the 1st quarter of current

fiscal year (1QFY11).

SEPCO is currently 33.0 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 into SEPCO (mildly bullish). Trend

forecasting oscillators are currently bearish on SEPCO.

RSI (14-day) 50.79 Total Assets (Rs in mn) 9,248.54

MA (10-day) 2.28 Total Equity (Rs in mn) 2,028.39

MA (100-day) 2.73 Revenue (Rs in mn) 1,911.24

MA (200-day) 3.46 Interest Expense 766.96

1st Support 2.11 Profit after Taxation 146.76

2nd Support 1.91 EPS 09 (Rs) 1.074

1st Resistance 2.50 Book value / share (Rs) 14.84

2nd Resistance 2.69 PE 10 E (x) -

Pivot 2.30 PBV (x) 0.16

Southern Electric Power Company Limited

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,350.17 1,358.08 1,338.32 1,348.15 -2.02 -0.15

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

4,467,753 - - 65,194.15 mn 1,063,852.34 mn 1,358.03

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

11.31 4.19 37.01 68.56 6.06 1,348.15

Attock PetroleumXDXB 691 4.58 296.81 299.50 296.00 297.47 0.66 112231 374.20 287.99 250 - 300 20

Attock Refinery 853 18.25 101.44 103.39 99.60 100.36 -1.08 2553071 103.39 73.47 - - - -

BYCO Petroleum 3921 - 10.71 10.89 10.58 10.65 -0.06 558926 12.87 9.62 - - - -

Mari Gas Company 735 16.12 121.90 121.90 118.51 118.96 -2.94 23921 135.84 106.00 32.17 100B 31 -

National Refinery XD 800 3.27 223.69 224.90 220.00 220.70 -2.99 69036 233.50 183.25 125 - 200 -

Oil & Gas Development 43009 10.42 153.75 155.00 152.20 153.94 0.19 564090 156.00 133.00 82.5 - 55 -

Pak Petroleum 11950 7.60 186.63 187.30 186.00 186.85 0.22 346688 214.10 168.70 130 20B 90 20B

Pak Oilfields XD 2365 6.15 245.00 244.50 242.01 242.42 -2.58 616558 251.24 213.17 180 - 255 -

Pak Refinery Limited 350 - 77.00 77.50 74.54 74.97 -2.03 14223 85.90 48.26 - - - -

PSO 1715 4.50 265.78 267.50 265.00 265.73 -0.05 157367 286.99 233.10 50 - 80 -

Shell Gas LPG 226 - 34.45 35.49 32.74 32.86 -1.59 2631 40.28 27.32 - - - -

Shell Pakistan 685 9.37 182.99 185.67 182.05 182.62 -0.37 7937 237.55 182.05 330 - 40 -

Paid up Last 60 days 2009 2010

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

950.01 959.91 930.07 948.47 -1.54 -0.16

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

10,838,069 - - 47,070.70 mn 121,749.63 mn 953.77

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

6.33 0.55 8.64 16.68 2.64 943.83

(Colony) Thal 56 - 0.99 1.90 0.52 1.04 0.05 2004 2.00 0.52 - - - -

Ali Asghar Textile 222 0.44 1.05 1.05 0.99 1.05 0.00 6200 2.21 0.70 - - - -

Amtex Limited XD 2415 14.25 7.27 7.40 6.27 6.27 -1.00 3980090 20.45 6.27 - - 30 -

Artistic Denim XD 840 5.03 20.00 20.00 20.00 20.00 0.00 20000 24.05 17.55 20 - 20 -

Azam Textile XD 133 0.49 2.03 2.80 2.20 2.70 0.67 1304 3.45 1.35 - - 7.5 -

Azgard Nine 4493 271.25 11.10 11.29 10.80 10.85 -0.25 992252 12.40 8.55 - - - -

Bannu Woolen XD 76 1.03 11.50 11.90 11.85 11.85 0.35 2503 14.00 7.50 - - 20 -

Bata (Pak) 76 4.87 572.60 600.00 544.00 587.15 14.55 3021 624.00 436.00 120 - - -

Chenab Limited 1150 - 3.45 3.55 3.22 3.23 -0.22 10500 4.61 2.93 - - - -

Colgate Palm 316 31.99 838.14 868.00 800.01 852.33 14.19 317 868.00 615.00 115 15B - -

Colony Mills Ltd 2442 2.64 2.83 3.20 2.84 2.85 0.02 68001 3.89 2.23 - - - -

Crescent Fibres Ltd XD 124 1.15 9.32 10.32 8.41 10.30 0.98 101 18.35 7.66 - - 10 -

Crescent Jute 238 - 0.95 0.90 0.65 0.68 -0.27 103429 1.90 0.16 - - - -

D S Ind Ltd 600 - 1.90 2.24 1.82 2.09 0.19 1468820 2.49 1.44 - - - -

Dawood Lawrencepur 514 47.02 39.00 39.98 38.00 39.97 0.97 221 50.35 37.00 - - 5 -

Dewan Farooque Spin. 600 4.09 4.15 5.15 5.00 5.15 1.00 8300 5.15 2.05 - - - -

Din TextileXDXB 204 0.56 26.23 27.54 25.25 25.92 -0.31 123322 30.90 20.80 - - 20 10B

Fazal Cloth 188 0.94 48.96 51.40 50.00 50.00 1.04 393 51.66 41.00 - -100SD -

Fazal Textile XD 62 3.62 435.29 457.05 415.00 453.50 18.21 193 457.05 303.00 15 - 100 -

Gadoon Textile XD 234 0.51 44.54 46.76 45.10 46.76 2.22 61097 48.30 33.80 - - 70 -

Ghazi Fabrics XD 326 0.87 3.50 3.90 3.00 3.00 -0.50 1501 5.00 1.11 - - 10 -

Gillette Pakistan 192 48.89 68.00 69.95 66.00 66.00 -2.00 1001 73.00 57.50 - - - -

Gul Ahmed Textile XD 635 3.39 24.70 25.50 23.55 23.56 -1.14 73295 25.50 19.99 5 - 12.5 -

Gulistan Textile XD 190 1.60 18.05 18.80 17.85 18.80 0.75 337 24.84 17.85 - 10B 10 -

Gulshan SpinningXDXB 222 1.34 7.11 7.74 6.75 7.39 0.28 508 10.30 5.31 - 10B 10 20B

Hira Txt.Mills Ltd. XD 716 0.73 3.94 4.00 3.75 3.87 -0.07 152300 4.88 2.52 - - 10 -

Ibrahim Fibres XD 3105 3.02 37.07 38.92 36.25 38.40 1.33 41004 39.00 34.05 - - 20 -

Idrees Textile XD 180 3.59 3.51 3.65 3.25 3.30 -0.21 2502 5.35 2.56 - - 10 -

Indus Dyeing XD 181 2.25 256.66 269.45 243.83 251.62 -5.04 5210 269.50 206.11 15 - - -

J K Spinning 179 0.95 6.92 7.00 6.00 6.25 -0.67 7550 10.30 5.12 - - 20 5B

Kohinoor Ind 303 - 1.46 1.59 1.40 1.49 0.03 3656 1.95 1.01 - - - -

Kohinoor Spinning XD 1300 1.08 1.00 1.45 1.09 1.19 0.19 116 2.00 0.56 - - 5 -

Kohinoor Textile 1455 3.79 5.89 5.85 5.30 5.31 -0.58 8012 6.30 4.00 - - - -

Leather Up 60 2.07 1.50 1.94 1.10 1.74 0.24 12401 2.50 1.10 - - - -

Masood Textile XD 600 2.11 20.90 21.40 20.00 20.00 -0.90 505 23.00 18.51 15 - 15 100R

Mehmood Textile XD 150 0.74 57.68 60.00 60.00 60.00 2.32 106 74.50 55.00 4050.2257B 60 -

Mukhtar Textile 145 - 0.52 0.60 0.20 0.55 0.03 504 0.99 0.20 - - - -

Nishat (Chunian) XD 1586 1.74 21.52 21.87 20.80 20.89 -0.63 1529600 23.55 14.64 - 50R 15 -

Nishat Mills XD 3516 4.44 52.17 52.46 51.50 51.71 -0.46 750659 54.27 40.81 20 - 25 45R

Pak Synthetic 560 2.06 6.15 6.40 6.10 6.11 -0.04 8000 7.90 5.16 12.5 - - -

Premium Textile XD 62 0.47 29.57 31.03 29.00 29.84 0.27 1398 31.03 25.71 7.5 - 50 -

Ravi Textile 250 4.54 1.72 1.89 1.71 1.77 0.05 178633 4.05 1.38 - - - -

Reliance Weaving 308 0.67 10.00 10.50 9.60 9.63 -0.37 16073 12.00 6.91 - - 25SD -

Rupali Poly XD 341 4.27 33.11 34.00 33.95 34.00 0.89 1506 36.75 31.35 40 - 40 -

Saif Textile 264 0.46 5.24 6.20 5.45 5.78 0.54 1635 6.20 2.01 - - - -

Sally Textile XD 88 0.22 4.33 5.00 4.00 4.50 0.17 14204 6.20 2.74 - - 10 -

Samin Textile XR 134 - 6.02 6.35 6.35 6.35 0.33 5000 8.69 5.02 - - - 100R

Sana Ind XD 55 2.36 31.50 32.88 30.75 31.04 -0.46 3731 38.40 27.50 35 - 60 -

Sargoda Spinning XD 312 0.43 1.91 2.30 1.95 2.24 0.33 2507 2.50 0.31 - - 5 -

Service Ind 120 7.12 218.89 207.95 207.95 207.95-10.94 126 255.29 176.00 200 - - -

Shadman Cot 176 2.09 12.50 11.50 11.50 11.50 -1.00 200 15.00 8.00 - - - -

Shahpur Textile 140 0.96 0.80 1.00 0.35 0.69 -0.11 24894 1.90 0.18 - - - -

Shahtaj Textile XD 97 0.83 17.00 17.90 16.61 17.16 0.16 5106 21.90 14.75 20 - 45 -

Shahzad Textile XD 180 0.30 4.00 5.00 5.00 5.00 1.00 400 9.48 3.25 - - 5 -

Tata Textile XD 173 0.19 19.00 20.00 19.00 20.00 1.00 54756 21.42 14.00 - - 25 -

Thal LimitedXDXB 307 3.91 89.82 93.60 86.50 91.40 1.58 322453 112.80 86.50 20 20B 80 20B

Treet Corp 418 7.08 46.61 46.00 44.28 44.45 -2.16 494980 52.14 37.20 - - - -

Tri-Star Poly 215 - 0.73 1.02 1.02 1.02 0.29 191 1.02 0.26 4 - - -

Zephyr Textile Ltd 594 5.66 3.91 4.90 4.00 4.30 0.39 256902 4.90 1.50 - - - -

Zil Limited XD 53 2.95 45.15 46.25 43.50 44.00 -1.15 2169 48.75 33.00 40 10B 35 -

Paid up Last 60 days 2009 2010

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,157.30 1,171.86 1,122.87 1,127.88 -29.41 -2.54

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

872,531 - - 3,763.71 mn 5,362.92 mn 1,163.87

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

2.87 0.30 10.64 6.27 2.19 1,127.88

Diamond Ind 90 - 13.28 14.24 12.28 12.28 -1.00 468 19.70 10.50 - - - -

Pak Elektron 1174 3.45 14.56 14.85 13.56 13.70 -0.86 699018 15.44 12.17 - 10B - 10B

Singer Pak 341 17.00 19.01 19.76 18.02 18.02 -0.99 506 24.14 16.51 - 10B - -

Tariq Glass Ind 231 2.11 17.68 18.20 17.30 17.66 -0.02 172438 19.10 14.50 - - 17.5 -

Paid up Last 60 days 2009 2010

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,497.25 1,531.75 1,468.78 1,514.83 17.58 1.17

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

84,064 - - 11,335.33 mn 195,402.36 mn 1,514.83

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

32.07 9.72 30.30 30.57 0.95 1,493.10

AL-Noor Sugar 186 4.36 42.95 42.95 42.75 42.94 -0.01 2000 45.99 39.25 40 - - -

Chashma Sugar 287 0.76 9.50 9.49 9.25 9.45 -0.05 5511 11.40 8.00 - - - -

Faran Sugar 217 3.23 19.70 20.00 19.95 19.98 0.28 1500 20.25 15.92 17.5 - - -

Habib Sugar 600 6.08 29.16 30.00 29.36 29.50 0.34 38803 32.25 25.00 35 25B - -

Habib-ADM Ltd 200 11.57 12.40 12.50 12.49 12.50 0.10 2703 16.98 11.90 40 - 40 -

J D W Sugar 490 2.59 79.00 79.50 77.10 77.44 -1.56 3652 80.80 60.10 40 - 0 12.5R

Mirpurkhas Sugar 70 6.01 60.12 57.25 57.12 57.12 -3.00 539 65.00 54.50 25 10B - -

Mirza Sugar 141 0.34 5.00 5.50 5.00 5.45 0.45 12880 5.70 3.55 - - - -

National Foods XD 414 15.74 42.61 43.97 42.01 42.18 -0.43 1615 65.29 39.01 - 25B 12 -

Noon Sugar 165 - 12.85 13.65 12.85 12.85 0.00 410 13.65 10.20 50 10B - -

Pangrio Sugar 109 0.41 5.77 5.50 5.00 5.01 -0.76 5030 6.35 4.00 - - - -

Quice Food 107 - 2.25 2.16 2.12 2.16 -0.09 5000 3.40 1.60 - - - -

Rafhan Maize 92 2.66 1651.00 1733.55 1601.00 1681.06 30.06 514 1733.55 1229.00 900 - 600 -

Shahmurad Sugar 211 16.30 11.50 11.49 11.25 11.25 -0.25 1500 11.90 7.70 15 - - -

Shakarganj Mills 695 - 4.70 5.20 4.50 4.51 -0.19 2006 6.40 3.02 - - - -

UniLever Pakistan 665 19.09 4025.13 4099.97 3900.00 4088.67 63.54 216 4220.00 3710.00 458 - 178 -

Paid up Last 60 days 2009 2010

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,107.18 1,118.74 1,091.15 1,098.43 -8.75 -0.79

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

441,856 - - 6,768.53 mn 39,805.39 mn 1,118.41

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

3.87 0.98 25.35 20.42 5.28 1,098.43

Agriautos Ind XD 144 5.11 67.94 67.98 67.25 67.50 -0.44 1434 76.98 63.01 40 - 90 -

Atlas Battery 101 4.66 161.29 166.69 155.00 155.91 -5.38 24828 201.70 131.00 100 20B 100 20B

Atlas Honda 626 7.23 108.00 107.99 102.70 103.83 -4.17 661 122.51 92.00 80 30B - -

Dewan Motors 890 - 1.48 1.54 1.21 1.50 0.02 51003 2.09 1.16 - - - -

General Tyre 598 18.89 22.33 21.95 21.70 21.91 -0.42 15155 26.70 21.70 - - 20 -

Ghandhara Nissan 450 3.25 4.45 5.23 4.49 4.68 0.23 307525 6.10 4.03 - - - -

Honda Atlas Cars 1428 - 11.68 12.00 11.31 11.55 -0.13 12676 13.22 9.65 - - - -

Indus Motors 786 5.30 232.59 234.50 231.00 232.00 -0.59 14509 278.99 212.29 100 - 150 -

Pak Suzuki 823 11.64 73.92 74.99 73.08 73.09 -0.83 13011 89.99 69.25 5 - - -

Sazgar EngineeringXDXB 150 3.82 20.94 21.25 19.94 20.50 -0.44 1051 27.58 19.50 - 20B 10 20B

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,541.45 1,547.42 1,508.57 1,518.43 -23.01 -1.49

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

144,121 - - 1,336.62 mn 31,536.37 mn 1,557.72

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

8.04 3.06 38.02 131.49 16.36 1,518.43

Ados Pak 66 1.08 15.90 16.90 16.00 16.76 0.86 16979 21.96 14.62 20 - - -

AL-Ghazi Tractor 215 4.85 204.23 205.50 202.00 202.33 -1.90 1331 227.45 200.00 400 - 150 -

Ghandhara Ind 213 11.11 13.00 12.50 12.00 12.00 -1.00 31450 19.00 11.29 - - - -

Hinopak Motor 124 - 138.83 140.80 140.80 140.80 1.97 500 143.41 108.11 17.15 - - -

KSB Pumps 132 8.46 74.18 71.00 70.50 70.61 -3.57 187 89.55 70.50 35 - - -

Millat Tractors XB 366 6.29 486.89 489.90 478.50 480.89 -6.00 93525 597.90 390.00 450 25B 650 25B

Pak Engineering XD 57 809.67 299.99 299.00 285.19 291.48 -8.51 121 324.80 284.95 125 - 100 -

Paid up Last 60 days 2009 2010

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

896.20 915.88 893.34 902.80 6.60 0.74

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

490,030 - - 3,043.31 mn 33,517.20 mn 917.28

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

2.58 1.13 43.91 15.55 6.02 896.20

Cherat PapersackXDXB 115 1.83 50.66 53.19 50.62 51.39 0.73 433581 53.19 34.00 - - 20 25B

ECOPACK Ltd 230 - 2.11 2.10 1.98 2.00 -0.11 38573 2.75 1.70 - - - -

Ghani GlassXDXB 1067 4.41 48.00 48.00 48.00 48.00 0.00 265 61.99 45.75 30 10B 25 10B

Merit Pack 47 43.75 17.51 18.00 17.50 17.50 -0.01 339 18.99 11.81 - - - -

Packages Ltd 844 51.81 103.00 104.00 101.00 101.02 -1.98 11691 123.00 98.00 32.5 - - -

Siemens Engineering 82 10.31 1205.00 1250.00 1220.00 1249.46 44.46 2261 1260.00 1040.01 900 - 900 -

Syed Match 3 - 12.50 11.50 11.50 11.50 -1.00 500 14.00 11.05 - - - -

Tri-Pack Films 300 7.47 102.15 106.00 101.00 102.46 0.31 2810 106.00 91.00 100 - - -

Paid up Last 60 days 2009 2010

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

966.92 988.48 962.29 975.31 8.39 0.87

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

6,235,627 - - 54,792.74 mn 69,358.19 mn 992.98

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

7.24 0.51 7.10 19.04 2.63 966.92

Al-Abbas Cement 1828 - 3.06 3.27 3.05 3.05 -0.01 10003 4.20 2.80 - - - 100R

Attock Cement XD 866 6.14 60.41 60.70 57.75 58.30 -2.11 82262 70.00 57.75 50 20B 50 -

Berger Paints 182 - 16.10 17.10 15.40 15.53 -0.57 11514 19.15 14.01 - - - 122R

Cherat Cement 956 27.11 11.37 11.95 11.50 11.93 0.56 10762 12.50 8.90 - - - -

Dadabhoy Cement 982 11.62 1.67 1.68 1.51 1.51 -0.16 9003 2.59 1.30 - - - -

Dandot Cement 948 - 1.76 2.76 1.81 2.52 0.76 173975 3.90 1.02 - - - -

Dewan Cement 3574 - 1.59 1.65 1.43 1.55 -0.04 59590 1.99 1.30 - - - -

DG Khan Cement Ltd 3651 113.88 26.97 27.75 27.00 27.33 0.36 4288698 28.30 23.02 - 20R - 20R

EMCO Ind 350 - 2.87 3.26 2.27 2.99 0.12 4016 4.70 2.11 - - - -

Fauji Cement 6933 14.61 4.86 5.00 4.80 4.82 -0.04 252370 5.50 4.51 - - - -

Fecto Cement 502 3.28 6.10 6.30 5.80 6.30 0.20 7514 6.90 4.25 - 10B - -

Flying Cement Ltd 1760 - 1.90 1.97 1.85 1.90 0.00 36744 2.29 1.74 - - - -

Gammon Pak 283 - 1.51 1.51 1.51 1.51 0.00 150 2.90 0.98 - - - -

Gharibwal Cement 2319 - 3.24 3.50 3.02 3.03 -0.21 1003 7.50 2.11 - - - -

Haydery Const 32 - 0.79 0.85 0.63 0.63 -0.16 1771 1.48 0.25 - - - -

Kohat Cement 1288 - 5.96 6.50 5.92 6.15 0.19 43806 6.60 5.50 - - - -

Lafarge Pakistan Cmt. 13126 - 2.89 3.02 2.84 2.91 0.02 753026 3.65 2.60 - - - -

Lucky Cement XD 3234 6.57 72.07 73.25 72.30 73.07 1.00 362664 74.00 62.60 40 - 40 -

Maple Leaf Cement 5261 1.33 2.84 2.99 2.75 2.85 0.01 121219 3.48 2.51 - - - -

Pioneer Cement 2228 - 7.81 8.20 7.61 7.99 0.18 3304 8.58 6.80 - - - -

Safe Mix Concrete 200 - 6.10 6.30 6.05 6.15 0.05 7001 9.47 5.50 - - - -

Shabbir Tiles 361 - 7.92 8.00 7.50 8.00 0.08 1700 11.00 7.50 - - - -

Thatta Cement 798 487.50 19.50 19.50 19.50 19.50 0.00 500 22.24 17.74 - - - 50R

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

925.98 937.40 916.00 919.57 -6.41 -0.69

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

59,296 - - 3,596.11 mn 8,796.56 mn 937.93

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

2.91 0.96 33.10 30.91 10.63 919.57

Crescent Steel 565 3.83 24.65 24.99 24.50 24.50 -0.15 5891 28.37 23.75 - - 30 -

Dost Steels Ltd 675 - 2.82 2.88 2.74 2.81 -0.01 13300 3.39 1.65 - - - -

Huffaz Pipe 555 6.27 14.86 14.99 14.50 14.62 -0.24 23937 16.75 12.25 - 30B - -

International Ind 1199 4.44 46.02 46.75 45.22 45.58 -0.44 18171 70.71 45.22 - - 40 20B

Siddiqsons Tin XD 785 10.24 9.00 9.01 9.00 9.01 0.01 11297 10.80 8.00 10 - 7.5 -

Paid up Last 60 days 2009 2010

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,109.34 1,104.38 1,070.31 1,085.43 -23.91 -2.16

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

426,133 - - 1,186.83 mn 3,008.06 mn 1,140.72

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

5.54 0.41 7.47 25.28 4.56 1,085.43

Century Paper 707 - 17.26 17.00 16.26 16.26 -1.00 425960 21.80 16.26 - 425R - -

Pak Paper ProductXDXB 50 7.88 40.00 41.00 40.00 41.00 1.00 108 62.85 38.61 20 - 25 33.33B

Paid up Last 60 days 2009 2010

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,181.38 1,194.03 1,173.03 1,182.00 0.62 0.05

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

17,135,381 - - 52,251.88 mn 264,857.14 mn 1,200.05

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

7.33 2.57 35.00 48.81 6.66 1,181.38

Agritech Limited 3924 9.57 22.74 21.96 21.61 21.62 -1.12 71959 25.95 21.15 - - - -

Bawany AirXDXR 68 74.92 9.16 10.15 8.41 8.99 -0.17 10028 15.99 8.41 - - 5 10R

BOC (Pak) 250 10.66 78.20 79.00 77.10 77.59 -0.61 2401 87.99 66.90 90 - 15 -

Clariant Pak 273 6.01 152.96 159.10 153.60 157.23 4.27 36605 173.99 152.55 125 - - -

Dawood Hercules 1203 7.01 170.44 171.25 168.50 168.98 -1.46 13076 182.00 155.38 40 10B 40 -

Descon Chemical 1996 - 2.45 2.59 2.32 2.34 -0.11 66604 2.98 1.78 - - - -

Descon Oxychem Ltd. 1020 - 5.52 6.20 5.40 5.72 0.20 3020442 6.20 3.20 - - - -

Dewan Salman 3663 - 1.66 1.75 1.61 1.64 -0.02 203373 2.15 1.28 - - - -

Engro Corporation Ltd 3277 8.99 175.56 176.40 175.01 175.35 -0.21 331014 190.80 165.60 6010B 40R 40 -

Engro Polymer 6635 - 13.38 13.60 13.00 13.15 -0.23 833175 15.20 10.62 - 27.5R - -

Fatima Fertilizer 22000 - 9.62 9.81 9.50 9.54 -0.08 1157321 12.04 9.02 - - - -

Fauji Fertilizer 6785 7.25 106.56 107.25 106.01 106.52 -0.04 461985 112.35 102.96 131.5 10B 95 -

Fauji Fert. Bin Qasim 9341 5.88 30.39 31.50 30.31 31.16 0.77 6278454 31.50 26.59 40 - 17.5 -

Ghani Gases Ltd 725 9.25 12.06 12.30 12.05 12.21 0.15 151853 13.85 7.41 - - - -

ICI Pakistan 1388 6.98 126.53 126.79 123.50 123.83 -2.70 149629 131.40 109.50 80 - 55 -

Lotte Pakistan 15142 3.67 10.32 10.42 10.16 10.28 -0.04 4519972 10.75 6.75 5 - - -

Mandviwala 74 - 1.44 2.10 1.31 1.32 -0.12 23038 3.24 0.80 - - - -

Nimir Ind Chemical 1106 - 1.43 1.59 1.45 1.50 0.07 127511 1.70 1.16 - - - -

Shaffi Chemical 120 - 2.55 2.60 2.58 2.58 0.03 2581 3.49 1.80 - - - -

Sitara Chem Ind XDXB 214 8.98 109.67 113.95 107.00 109.59 -0.08 4864 128.01 104.56 75 - 25 5B

Sitara Peroxide 551 13.93 12.39 13.39 12.08 12.82 0.43 879571 13.79 7.67 - - - -

United Distributors 92 - 11.58 10.60 10.58 10.58 -1.00 2632 17.88 9.22 10 10B - -

Wah-Noble XD 90 6.58 35.88 36.89 34.09 34.21 -1.67 11172 46.25 34.09 50 - 50 -

Paid up Last 60 days 2009 2010

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

875.94 891.32 869.15 879.53 3.59 0.41

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

34,167 - - 3,904.20 mn 29,344.46 mn 884.49

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

6.48 1.45 22.31 44.54 6.87 870.57

Abbott (Lab) 979 8.76 100.05 102.89 99.50 100.00 -0.05 3950 104.00 77.00 120 - 20 -

Ferozsons (Lab) 250 6.32 84.02 84.90 83.00 83.63 -0.39 5712 124.00 83.00 10 20B - 20B

GlaxoSmithKline 1707 12.86 71.00 71.96 70.19 71.50 0.50 453 81.35 65.00 50 - - -

Highnoon (Lab) 165 6.89 24.32 24.90 24.05 24.89 0.57 3383 25.79 22.10 25 - - -

IBL HealthCare Ltd 200 6.85 8.05 9.00 7.75 8.50 0.45 5013 9.00 6.10 - - - -

Searle Pak XD 306 5.62 62.52 63.25 62.00 62.54 0.02 15655 64.50 53.36 15 15B 30 -

Paid up Last 60 days 2009 2010

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

762.16 774.51 747.25 754.55 -7.62 -1.00

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

7,646 - - 3,242.17 mn 13,198.15 mn 762.16

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

3.05 0.78 25.53 11.08 3.63 734.66

Pak Int Cont.Terminal XD 1092 7.29 73.86 75.40 72.00 72.91 -0.95 7646 87.00 60.05 - 20B 40 -

Paid up Last 60 days 2009 2010

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

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

BOOK CLOSURES

Azam Textile Mills 30-Oct 05-Nov 7.5 22-Oct 30-Oct

Kohinoor Industries 30-Oct 05-Nov - - 30-Oct

Kohinoor Power Company 30-Oct 05-Nov - - 30-Oct

Salman Noman Enterprises 30-Oct 05-Nov 5B 22-Oct 30-Oct

Saritow Spinning Mills 30-Oct 05-Nov - - 30-Oct

The Royal Bank of Scotland 01-Nov 11-Nov - - 11-Nov

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

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

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

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

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

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

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

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

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

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

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

Fuji Fertilizer 21-Nov 27-Nov - - -

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

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

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

TRG Pakistan Ltd. 4.03 4.1 3.99 4.01 -0.02 1067958Shezan Internat.XD 96 97.9 96 96 0 244Grays of Cambr.XD 46.68 48 46 46.63 -0.05 530Lakson Tobacco 328.43 344 321 327.05 -1.38 310Pak Tobacco 112.5 113.25 110.25 113.21 0.71 4020Shifa Int.Hospitals 28.45 29.5 27.03 27.1 -1.35 2490Eye Television 21 20.9 20.05 20.9 -0.1 830PIAC(A) 2.5 2.65 2.3 2.32 -0.18 279051AKD Capital 61.51 64.58 59.99 60 -1.51 18021Pace (Pak) Ltd. 3.14 3.29 3.08 3.15 0.01 756308Netsol Technol XD 18.98 19.15 18.6 18.63 -0.35 442848Pak Telephone 1.76 1.99 1.71 1.75 -0.01 3680

Symbols Open High Low Close Change Vol

Saturday, October 30, 20107

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -36.59 points at 10,598.40. Volume

was 7 per cent above average and Bollinger Bands were 14 per cent

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

will see major 1st resistance level at 10,649.70 and 2nd resistance

level at 10,701.00, while Index will continue to find its 1st support

level at 10,558.10 and 2nd support level at 10,517.80.

KSE 100 INDEX is currently 6.0 per cent above its 200-day moving

average and is displaying an upward trend. Volatility is relatively nor-

mal as compared to the average volatility over the last 10 trading

sessions. Volume indicators reflect moderate flows of volume into

INDEX (mildly bullish). Trend forecasting oscillators are currently

bullish on INDEX.

RSI (14-day) 66.83 Support 1 10,558.10

MA (5-day) 10,659.88 Support 2 10,517.80

MA (10-day) 10,594.59 Resistance 1 10,649.70

MA (100-day) 10,008.17 Resistance 2 10,701.00

MA (200-day) 10,005.50 Pivot 10,609.40

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -3.11 at 64.61. Volume was 325 per cent above average

(trending) and Bollinger Bands were 10 per cent narrower than normal.

NBP is currently 2.9 per cent below its 200-day moving average and is dis-

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

average volatility over the last 10 trading sessions. Volume indicators

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

forecasting oscillators are currently bullish on NBP.

*Arif Habib Ltd 78 Buy

AKD Securities Ltd 61.96 Neutral

TFD Research 92.3 Positive

RSI (14-day) 46.43 Free Float Shares (mn) 318.37

MA (10-day) 66.47 Free Float Rs (mn) 20,569.69

MA (100-day) 65.61 ** NOI Rs (mn) 81.12

MA (200-day) 71.59 Mean 66.20

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

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed up 0.77 at 31.16. Volume was 266 per cent above average

(trending) and Bollinger Bands were 24 per cent wider than normal.

FFBL is currently 7.0 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on FFBL. Momentum oscillator is currently

indicating that FFBL is currently in an overbought condition.

*Arif Habib Ltd 33 Buy

AKD Securities Ltd 32.06 Accumulate

TFD Research 29.1 Neutral

RSI (14-day) 72.09 Free Float Shares (mn) 326.94

MA (10-day) 30.40 Free Float Rs (mn) 10,187.40

MA (100-day) 28.19 ** NOI Rs (mn) 13.04

MA (200-day) 29.53 Mean 30.84

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

Technical Analysis Leverage Position

Dera Ghazi Khan Cement Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

DGKC closed up 0.36 at 27.33. Volume was 47 per cent above average

and Bollinger Bands were 25 per cent wider than normal.

DGKC is currently 1.2 per cent above its 200-day moving average and is

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

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

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

oscillators are currently bullish on DGKC.

*Arif Habib Ltd 44 Buy

AKD Securities Ltd 43.29 Buy

TFD Research 36.85 Positive

RSI (14-day) 63.08 Free Float Shares (mn) 182.55

MA (10-day) 27.08 Free Float Rs (mn) 4,989.08

MA (100-day) 25.49 ** NOI Rs (mn) 29.69

MA (200-day) 27.01 Mean 27.26

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

Technical Analysis Leverage Position

Bank Alfalah Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

BAFL closed down -0.43 at 9.27. Volume was 43 per cent above average

and Bollinger Bands were 28 per cent wider than normal.

BAFL is currently 10.4 per cent below its 200-day moving average and is

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

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

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

oscillators are currently bullish on BAFL.

*Arif Habib Ltd 14 Buy

AKD Securities Ltd 10.25 Accumulate

TFD Research 14.01 Positive

RSI (14-day) 55.19 Free Float Shares (mn) 674.58

MA (10-day) 9.41 Free Float Rs (mn) 6,253.34

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

MA (200-day) 10.35 Mean 9.5

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed down -0.49 at 18.25. Volume was 20 per cent below average

and Bollinger Bands were 40 per cent narrower than normal.

PTC is currently 7.0 per cent below its 200-day moving average and is dis-

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

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

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

forecasting oscillators are currently bearish on PTC.

AKD Securities Ltd 24.04 Buy

TFD Research 30.5 Positive

RSI (14-day) 36.35 Free Float Shares (mn) 584.63

MA (10-day) 19.03 Free Float Rs (mn) 10,669.59

MA (100-day) 18.64 ** NOI Rs (mn) 11.44

MA (200-day) 19.62 Mean 18.50

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

Technical Analysis Leverage Position

MCB Bank Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

MCB closed down -0.62 at 202.55. Volume was 5 per cent below average

and Bollinger Bands were 17 per cent narrower than normal.

MCB is currently 0.3 per cent below its 200-day moving average and is dis-

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

average volatility over the last 10 trading sessions. Volume indicators

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

ing oscillators are currently bullish on MCB.

*Arif Habib Ltd 194 Hold

AKD Securities Ltd 189.75 Neutral

TFD Research 218.18 Neutral

RSI (14-day) 61.10 Free Float Shares (mn) 342.10

MA (10-day) 202.08 Free Float Rs (mn) 69,291.69

MA (100-day) 195.05 ** NOI Rs (mn) 108.43

MA (200-day) 203.07 Mean 202.72

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

Technical Analysis Leverage Position

Adamjee Insurance Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

AICL closed up 1.78 at 69.53. Volume was 89 per cent above average and

Bollinger Bands were 9 per cent wider than normal.

AICL is currently 26.5 per cent below its 200-day moving average and is

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

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

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

ing oscillators are currently bullish on AICL.

AKD Securities Ltd 76 Accumulate

TFD Research 88 Positive

RSI (14-day) 48.24 Free Float Shares (mn) 74.22

MA (10-day) 72.04 Free Float Rs (mn) 5,160.71

MA (100-day) 76.19 ** NOI Rs (mn) 19.61

MA (200-day) 94.64 Mean 68.44

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,057.80 1,078.87 1,048.74 1,060.58 2.78 0.26

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

3,770,122 - - 29,771.58 mn 17,402.39 mn 1,060.58

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

6.56 0.27 4.09 104.19 27.94 1,056.87

1st Fid Leasing 264 8.75 1.50 1.46 1.40 1.40 -0.10 505 2.24 1.01 - - - -

AL-Meezan Mutual F. XD 1375 5.14 6.18 6.20 6.05 6.17 -0.01 14301 7.25 5.85 - - 18.5 -

AL-Noor Modaraba XD 210 4.08 2.50 2.80 2.45 2.45 -0.05 248 3.44 2.10 - - 5 -

Atlas Fund of F. SPOT 525 1.41 3.50 3.50 3.50 3.50 0.00 6821 4.50 2.53 - - 2.2 -

B R R Guardian Mod. 780 2.70 1.27 1.19 1.06 1.19 -0.08 16221 1.67 0.90 - - 0 -

Constellation Modaraba 65 3.07 1.79 1.88 1.30 1.35 -0.44 1097 2.99 0.90 - - - -

Crescent St Mod. XD 200 1.58 0.65 0.86 0.61 0.63 -0.02 169365 1.10 0.16 - - 1.2 -

Elite Cap Mod. XD 113 3.80 1.86 2.47 2.47 2.47 0.61 260 3.00 1.65 4.5 - 5 -

Equity Modaraba 524 7.56 1.29 1.50 1.21 1.21 -0.08 86019 1.50 0.76 - - - -

First Capital Mutual F. 300 5.00 4.52 5.50 4.65 4.65 0.13 69076 5.50 0.99 - - - -

Golden Arrow XD 760 1.92 2.61 2.79 2.61 2.69 0.08 132006 3.88 2.32 - - 17 -

H B L Modaraba XD 397 2.08 6.33 6.25 6.22 6.25 -0.08 15121 6.80 4.80 5 - 11 -

Habib Modaraba 1008 5.23 6.24 6.20 6.02 6.07 -0.17 8551 7.44 5.56 20 - 21 -

JS Growth Fund 3180 36.38 2.80 2.95 2.80 2.91 0.11 32095 3.70 2.65 - - 5 -

JS Value Fund 1186 10.18 2.88 3.09 2.80 2.85 -0.03 415341 3.98 2.31 10 - 10 -

KASB Modaraba XD 283 1.35 1.84 1.84 1.84 1.84 0.00 256 2.00 0.52 - - 2.8 -

Meezan Bal. Fund XD 1200 5.38 5.99 5.60 5.60 5.60 -0.39 3000 7.00 5.30 - - 15.5 -

Mod Al-Mali 184 11.40 1.00 1.20 1.00 1.14 0.14 20810 2.18 0.56 - - - -

Pak Modaraba XD 125 1.51 0.70 0.85 0.81 0.83 0.13 8893 1.40 0.30 - - 3 -

Pak Prem Fund 1698 11.39 8.01 8.28 8.10 8.20 0.19 622958 9.86 7.00 - - 18.6 -

Pak Strat FundSPOT 3000 7.05 7.15 7.50 7.27 7.33 0.18 1899542 8.10 6.01 - - 11.53 -

PICIC Energy Fund 1000 1.65 5.63 5.70 5.65 5.68 0.05 54555 5.99 4.00 - - 10 -

PICIC Growth Fund 2835 5.14 8.09 8.13 8.00 8.02 -0.07 34403 10.05 7.60 - - 20 -

PICIC Inv Fund 2841 4.38 3.86 3.95 3.85 3.85 -0.01 86866 4.98 3.50 - - 10 -

Prud Modaraba 1st XD 872 2.37 0.98 0.99 0.88 0.90 -0.08 26500 1.20 0.70 - - 3 -

Punjab Modaraba 340 7.24 1.58 1.52 1.50 1.52 -0.06 2653 2.00 0.57 - - 1 -

Stand Chart Modaraba 454 4.41 8.80 9.00 8.65 9.00 0.20 4006 10.99 7.75 16.5 - 17 -

Tri-Star 1st Modaraba 212 4.47 1.94 1.70 1.11 1.70 -0.24 2502 7.12 0.50 - - - -

U D L Modaraba XD 264 2.80 5.39 5.43 5.34 5.38 -0.01 36000 6.99 4.71 10 - 12.5 -

Paid up Last 60 days 2009 2010

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

372.97 385.36 366.98 373.31 0.34 0.09

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

12,674,319 - - 30,336.44 mn 26,495.02 mn 387.17

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

0.45 0.17 37.22 4.60 10.17 372.85

AMZ Ventures 225 - 0.60 0.69 0.64 0.65 0.05 4019 1.10 0.42 - - - -

Arif Habib Investments 360 3.34 17.00 17.00 16.45 16.96 -0.04 59256 20.99 13.00 - - - 20B

Arif Habib Limited XB 450 12.89 25.51 26.00 25.20 25.27 -0.24 67154 45.30 24.62 15 25B - 20B

Arif Habib Securities 3750 4.27 23.48 23.74 23.10 23.23 -0.25 806494 34.99 20.90 - - 30 -

Arpak Int 40 7.24 12.00 11.00 11.00 11.00 -1.00 6349 16.37 4.00 - - - -

Dawood Equities 250 - 1.80 1.98 1.60 1.91 0.11 56901 2.91 1.51 - - - -

First Credit & Invest Bank Ltd 650 12.71 3.01 3.05 3.05 3.05 0.04 3000 4.50 2.00 - - - -

IGI Investment Bank 2121 13.06 2.04 2.10 2.01 2.09 0.05 8015 2.30 1.17 - - - -

Invest and Fin Sec XD 600 711.00 7.25 7.18 6.76 7.11 -0.14 10006 9.00 6.70 - - 11.5 -

Invest Bank 2849 - 0.76 0.90 0.63 0.66 -0.10 21946 1.00 0.44 - - - -

Ist Cap Securities XB 3166 1.59 3.71 4.20 3.83 3.86 0.15 61126 5.29 2.54 - 10B - 10B

Ist Dawood Bank 626 0.65 1.92 1.93 1.81 1.83 -0.09 148612 2.84 1.17 - - - -

Jah Siddiq Co 7633 - 9.97 10.17 9.82 9.88 -0.09 3390356 13.72 8.80 -243.778B 10 -

JOV and CO 508 - 3.09 4.09 3.10 4.07 0.98 5341834 5.71 1.96 - - - -

JS Global Cap XD 500 7.39 27.97 29.36 26.58 27.48 -0.49 3173 40.50 24.25 150 - - -

JS Investment 1000 24.63 5.99 6.05 5.80 5.91 -0.08 146079 7.69 5.10 - - - -

KASB Securities 1000 - 4.24 4.35 4.07 4.10 -0.14 66001 5.25 3.20 - - - -

Orix Leasing 821 4.05 5.50 5.70 5.51 5.51 0.01 9000 5.95 3.66 - - - -

Pervez Ahmed Sec 775 - 1.93 2.49 1.84 2.29 0.36 2458857 2.50 1.35 -231.08R - -

Saudi Pak Leasing 452 - 0.55 0.59 0.58 0.58 0.03 5500 1.70 0.40 - - - -

Trust Inv Bank 586 - 1.41 1.75 1.50 1.50 0.09 3554 3.25 1.24 - - - -

Paid up Last 60 days 2009 2010

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

829.56 850.53 826.50 827.36 -2.20 -0.27

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

19,425 - - 2,290.72 mn 9,409.49 mn 871.21

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

91.73 3.53 3.85 355.53 3.88 827.36

EFU Life Assurance XB 850 36.78 71.24 72.99 67.68 67.68 -3.56 4764 82.99 51.25 5513.33B - -

New Jub Life Insurance 627 28.19 40.90 42.00 42.00 42.00 1.10 14658 45.20 34.50 10 - - -

Paid up Last 60 days 2009 2010

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,027.58 1,038.81 1,008.53 1,017.80 -9.78 -0.95

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

20,190,380 - - 257,548.02 mn 616,727.72 mn 1,037.29

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

7.16 0.96 13.45 34.35 4.80 1,017.80

Allied Bank Limited 7821 5.38 56.35 56.75 55.00 55.36 -0.99 755964 58.70 48.51 40 10B 20 -Askari Bank 6427 7.36 15.61 15.80 15.40 15.45 -0.16 263476 16.96 13.99 - 20B - -Atlas Bank 5001 - 1.76 1.80 1.70 1.71 -0.05 43172 2.84 1.52 - - - -Bank Alfalah 13492 12.36 9.70 9.80 9.23 9.27 -0.43 2691115 10.19 7.32 8 - - -Bank AL-Habib 7322 6.90 31.99 32.10 31.75 32.00 0.01 197601 33.75 29.10 20 20B - -Bank Of Khyber 5004 4.67 3.54 4.49 3.16 3.50 -0.04 29287 4.49 2.50 - - - -Bank Of Punjab 5288 - 8.65 8.85 8.40 8.42 -0.23 734227 10.38 7.35 - - - -BankIslami Pak 5280 805.00 3.32 3.44 3.16 3.22 -0.10 23292 3.69 2.31 - - - -Faysal Bank 6091 3.48 14.11 15.11 14.60 15.11 1.00 250455 15.11 12.75 - - - 20BHabib Bank Ltd 10019 6.34 102.16 102.75 100.65 101.55 -0.61 120373 108.50 92.00 60 10B - -Habib Metropolitan Bank 8732 6.16 20.43 20.75 19.85 20.13 -0.30 5067 23.30 18.02 10 16B - -JS Bank Ltd 6128 - 2.65 2.68 2.50 2.64 -0.01 98850 2.90 2.00 - - - 66RKASB Bank Ltd 9509 - 2.43 2.60 2.31 2.48 0.05 2225 3.70 2.03 - 26B - -MCB Bank Ltd 7602 8.98 203.17 204.00 201.15 202.55 -0.62 869898 212.25 180.40 110 10B 55 -Meezan Bank 6983 7.99 15.29 15.25 15.01 15.10 -0.19 11856 15.95 13.80 - 5B - -Mybank Ltd 5304 - 2.15 2.20 2.05 2.10 -0.05 49285 2.79 1.62 - - - -National Bank 13455 5.42 67.72 67.95 64.50 64.61 -3.11 9535784 73.22 60.51 75 25B - -Network Mic Bank 300 - 0.92 1.02 0.99 1.02 0.10 5502 1.95 0.26 - - - -NIB Bank 40437 - 2.80 2.93 2.65 2.71 -0.09 1605425 3.25 2.42 - - - -Royal Bank Ltd 17180 - 6.88 7.86 6.65 7.25 0.37 760841 11.99 5.20 - - - -Samba Bank 14335 - 2.00 2.05 1.92 1.99 -0.01 100001 2.65 1.55 - - -63.46RSilkbank Ltd 26716 - 2.69 2.70 2.61 2.64 -0.05 1531373 3.30 2.15 - - - -Soneri Bank 6023 - 7.35 7.90 7.30 7.75 0.40 339881 7.90 5.01 - - - -Stand Chart Bank 38716 10.05 6.50 6.70 6.50 6.53 0.03 25450 8.00 6.00 - - - -Summit Bank Ltd 5000 - 2.90 3.00 2.80 2.81 -0.09 147909 3.78 2.30 - - - -United Bank Ltd 12242 6.62 56.51 56.90 56.00 56.23 -0.28 139980 59.24 49.90 25 10B 10 -

Paid up Last 60 days 2009 2010

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

675.27 688.10 656.86 670.23 -5.04 -0.75

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

1,467,341 - - 11,111.34 mn 42,770.94 mn 711.32

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

10.99 0.57 5.20 79.54 7.24 670.23

Adamjee Insurance 1237 20.15 67.75 69.99 66.50 69.53 1.78 867425 89.38 63.05 30 10B 10 -

Paid up Last 60 days 2009 2010

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,814.89 1,829.30 1,743.19 1,759.26 -55.64 -3.07

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

412,456 - - 12,202.80 mn 37,736.51 mn 1,820.63

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

11.24 1.28 11.41 66.79 5.94 1,724.31

Sui North Gas 5491 9.47 32.31 32.75 31.50 31.81 -0.50 184262 33.40 25.00 - - 20 -Sui South GasXDXB 8390 3.64 25.20 25.30 23.95 24.16 -1.04 228194 30.70 16.00 - - 15 25B

Paid up Last 60 days 2009 2010

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,186.78 1,196.49 1,166.61 1,172.05 -14.73 -1.24

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

16,613,369 - - 95,369.29 mn 97,043.89 mn 1,192.09

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

12.41 1.16 9.35 104.13 8.39 1,172.05

Genertech 198 - 0.95 1.08 0.85 0.94 -0.01 33615 1.45 0.51 - - - -

Hub Power 11572 6.12 33.87 33.99 33.35 33.44 -0.43 684960 37.24 32.75 33.5 - 50 -

Japan Power 1560 - 1.64 1.70 1.61 1.61 -0.03 44032 2.25 0.70 - - - -

KESC 7932 - 2.19 2.24 2.07 2.09 -0.10 138532 2.50 1.92 - 31R - 7.8R

Kot Addu Power XD 8803 4.80 39.76 40.00 39.50 39.53 -0.23 119400 42.95 38.35 64.5 - 50 -

Nishat Chunian Power Ltd3673 3.09 14.62 14.85 13.70 14.09 -0.53 5545615 14.85 9.50 - - - -

Nishat Power Ltd 3541 24.42 15.56 16.10 14.75 15.14 -0.42 6725389 16.10 9.25 - - - -

Sitara Energy Ltd XD 191 3.48 19.11 19.50 19.50 19.50 0.39 500 23.49 18.70 20 - 20 -

Southern Electric 1367 - 2.10 2.49 2.10 2.32 0.22 3311324 3.00 2.05 - - - -

Tri-star Power XD 150 - 0.80 0.90 0.85 0.90 0.10 10001 1.58 0.33 3 - - -

Paid up Last 60 days 2009 2010

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,109.74 1,119.09 1,075.08 1,079.19 -30.55 -2.75

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

2,577,854 - - 50,077.79 mn 74,522.74 mn 1,156.57

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

5.87 0.75 12.84 62.56 10.66 1,079.19

Pak Datacom XD 78 5.73 94.50 98.99 89.78 92.79 -1.71 3194 120.61 89.78 70 - 80 -Pakistan Telecomm Co A 37740 12.17 18.74 18.80 18.21 18.25 -0.49 1255118 19.76 17.32 15 - 17.5 -Telecard 3000 0.97 2.35 2.43 2.25 2.27 -0.08 217854 2.78 1.80 - - 1 -WorldCall Tele 8606 - 2.57 2.70 2.42 2.45 -0.12 1101688 2.98 2.30 - - - -Wateen Telecom Ltd 6175 - 3.69 3.80 3.40 3.45 -0.24 476936 5.68 3.40 - - - -

Paid up Last 60 days 2009 2010

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

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

Atlas Insurance 369 5.25 33.52 33.50 32.10 33.00 -0.52 5329 35.00 27.10 40 10B - -

Century Insurance 457 7.03 10.51 11.50 11.00 11.24 0.73 10520 11.99 9.42 - - - -

Crescent Star Insurance 121 - 4.05 4.00 3.15 4.00 -0.05 1001 7.90 3.15 - - - -

EFU General Ins. XB 1250 32.98 43.73 43.45 41.55 41.55 -2.18 32481 54.22 34.76 40 8.7B - -

Habib Insurance 400 2.74 11.49 12.35 11.00 11.50 0.01 3725 13.89 10.04 35 - - -

IGI Insurance 718 15.40 83.00 86.69 83.00 83.00 0.00 1615 86.69 66.02 35 - 10 20B

New Jub Insurance 791 14.78 56.64 55.99 53.81 54.84 -1.80 339 60.50 52.21 30 20B - -

Pak Reinsurance 3000 36.51 14.89 14.98 14.10 14.24 -0.65 541566 18.16 12.50 30 - - -

PICIC Ins Ltd 350 - 3.00 3.15 3.12 3.14 0.14 997 4.16 1.66 - - - -

Premier Insurance 303 4.98 9.30 9.60 9.21 9.22 -0.08 1532 10.25 8.00 20 15B - -

Reliance Insurance XB 252 3.99 6.41 6.51 6.51 6.51 0.10 180 7.70 6.05 - - - -

Silver Star Insurance 253 1.85 7.06 7.90 7.05 7.42 0.36 603 10.00 6.00 - 20B - -

UPTO 100 VOLUME

FPRM 8.25 8.01 8.01 8.01 -0.24 100

DATM 0.36 0.36 0.36 0.36 0.00 100

AASM 29.17 27.72 27.72 27.72 -1.45 100

KSTM 0.85 0.80 0.80 0.80 -0.05 93

AGSML 6.00 6.99 6.49 6.49 0.49 77

PCAL 52.00 52.00 52.00 52.00 0.00 71

SEPL 40.00 40.00 39.10 40.00 0.00 65

JUBS 3.46 3.46 3.46 3.46 0.00 64

PMTFC6 96.49 87.00 87.00 87.00 -9.49 60

FIBLM 1.92 2.90 1.06 1.06 -0.86 45

SCLL 2.59 2.59 2.59 2.59 0.00 44

PRWM 13.90 14.88 13.20 14.30 0.40 40

GATI 43.50 43.88 41.33 41.33 -2.17 39

SLCL 2.39 2.39 2.39 2.39 0.00 32

FRCL 2.93 3.89 2.01 3.80 0.87 32

BCL 46.22 47.85 44.80 45.54 -0.68 28

CICL 51.66 53.80 52.00 52.00 0.34 27

NESTLE 1949.06 2044.00 1915.01 1973.48 24.42 22

MFTM 0.95 0.95 0.95 0.95 0.00 13

NATM 9.70 8.70 8.70 8.70 -1.00 10

ADAMS 13.95 13.99 13.99 13.99 0.04 10

AABS 95.00 95.00 95.00 95.00 0.00 10

HUSS 11.00 12.00 12.00 12.00 1.00 10

SANSM 14.00 13.80 13.80 13.80 -0.20 10

TSML 32.53 32.00 32.00 32.00 -0.53 10

WAZIR 6.87 7.86 7.86 7.86 0.99 10

MACFL 2.80 3.00 3.00 3.00 0.20 10

BCML 15.90 16.90 16.90 16.90 1.00 8

KOHS 3.80 3.60 3.60 3.60 -0.20 8

MQTM 9.01 9.70 8.05 8.10 -0.91 7

CWSM 1.41 1.76 1.00 1.76 0.35 6

DYNO 11.30 11.85 11.84 11.84 0.54 6

ISIL 75.68 75.89 72.01 75.89 0.21 6

UPFL 1050.00 1050.00 1000.00 1000.00 -50.00 6

FDMF 1.70 1.89 1.88 1.88 0.18 5

FNEL 9.40 9.94 8.40 9.63 0.23 5

LMSM 2.13 1.13 1.13 1.13 -1.00 5

MUREB 74.54 74.50 74.50 74.50 -0.04 5

GRYL 1.10 2.10 1.03 1.03 -0.07 3

GUSM 5.01 5.75 5.30 5.53 0.52 3

YOUW 1.03 1.28 1.05 1.25 0.22 3

SURC 31.00 31.85 31.05 31.85 0.85 3

SAPT 94.30 89.80 89.80 89.80 -4.50 3

PHDL 38.01 38.00 36.11 37.37 -0.64 3

ESBL 2.25 2.95 2.50 2.50 0.25 2

EWLA 2.75 2.94 2.26 2.60 -0.15 2

ELSM 20.25 20.65 20.65 20.65 0.40 2

NAGC 14.90 15.00 15.00 15.00 0.10 2

STML 16.75 16.00 16.00 16.00 -0.75 2

GAIL 4.60 4.95 4.36 4.95 0.35 2

NOPK 21.09 21.89 21.89 21.89 0.80 2

SCL 49.90 47.46 47.46 47.46 -2.44 2

TRSM 1.50 2.17 2.17 2.17 0.67 1

DCM 1.43 1.54 1.54 1.54 0.11 1

ALICO 18.09 18.09 18.09 18.09 0.00 1

AGIC 10.95 11.00 10.95 10.95 0.00 1

DMTM 3.99 4.70 4.70 4.70 0.71 1

IDSM 3.48 4.00 3.45 3.45 -0.03 1

JATM 3.00 4.00 3.00 3.00 0.00 1

CRTM 23.00 23.90 23.75 23.75 0.75 1

NCLNCP 18.77 19.49 19.49 19.49 0.72 1

HUSI 9.40 9.90 9.90 9.90 0.50 1

CSUML 3.18 3.87 3.87 3.87 0.69 1

FECS 44.83 47.00 47.00 47.00 2.17 1

PMRS 35.00 36.50 36.50 36.50 1.50 1

MLCFPS 6.90 7.89 7.89 7.89 0.99 1

KOHE 21.50 22.00 21.90 21.90 0.40 1

ATEL 18.88 19.88 19.88 19.88 1.00 1

MDTL 54.90 57.00 57.00 57.00 2.10 1

SAPL 130.50 134.00 134.00 134.00 3.50 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

NBP-NOV 68.26 68.25 64.91 65.09 -3.17 922000

DGKC-NOV 27.09 27.85 27.00 27.50 0.41 687000

FFBL-NOV 30.50 31.60 30.50 31.44 0.94 370000

DGKC-OCT 27.02 27.75 27.00 27.35 0.33 326000

PSO-NOV 266.05 268.00 265.01 266.74 0.69 254000

NBP-OCT 67.79 68.50 64.50 64.75 -3.04 212500

PTC-NOV 18.99 18.63 18.40 18.43 -0.56 209000

POL-NOV 245.65 245.44 243.50 243.73 -1.92 197000

MCB-NOV 203.29 203.75 202.00 203.22 -0.07 186500

POL-OCTB 245.07 244.40 242.20 242.66 -2.41 183000

NML-NOV 52.66 52.59 51.95 52.01 -0.65 176000

ENGRO-NOV 175.92 176.69 175.01 175.75 -0.17 172000

ANL-NOV 11.13 11.33 10.89 11.06 -0.07 171500

NML-OCT 52.16 52.25 51.50 51.69 -0.47 162000

MCB-OCT 203.35 203.95 202.00 203.25 -0.10 161500

OGDC-OCT 154.03 155.00 153.00 153.69 -0.34 142000

ENGRO-OCT 175.79 176.50 174.00 175.27 -0.52 140500

AICL-NOV 68.31 70.34 67.41 69.99 1.68 123500

FFBL-OCT 30.55 32.07 30.50 31.16 0.61 104000

ANL-OCT 11.03 11.40 10.60 10.72 -0.31 74500

PSO-OCT 266.18 267.50 264.51 265.52 -0.66 71500

OGDC-NOV 153.15 153.00 152.15 152.79 -0.36 64000

PPL-OCT 186.74 187.50 186.00 186.84 0.10 57000

NCL-NOV 21.50 21.40 21.10 21.20 -0.30 45000

AICL-OCT 68.03 70.40 67.09 69.67 1.64 45000

PPL-NOV 188.15 188.00 187.00 187.90 -0.25 30000

LUCK-NOV 72.56 73.50 72.50 73.22 0.66 28000

LUCK-OCT 72.14 74.00 72.11 73.18 1.04 24500

NETSOL-NOV 19.23 19.30 18.25 19.00 -0.23 11000

BOP-NOV 8.77 9.25 9.25 9.25 0.48 10000

BOP-OCT 8.65 8.50 8.50 8.50 -0.15 7500

UBL-NOV 56.68 56.70 56.29 56.29 -0.39 5500

UBL-OCT 56.60 56.60 56.60 56.60 0.00 1000

Symbols Open High Low Close Change Vol

ZERO VOLUME

BWCL 23.40 23.25 23.25 23.25 -0.15 0.00

DCTL 0.60 0.50 0.50 0.50 -0.10 0.00

TSMF 1.70 1.60 1.60 1.60 -0.10 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 41.96 2.95 2.90 3.20 3.35 3.10

Allied Bank Limited 61.36 54.65 53.95 56.40 57.45 55.70

Attock Cement 27.57 57.15 55.95 60.10 61.85 58.90

Arif Habib Limited 37.19 25.00 24.70 25.80 26.30 25.50

Arif Habib Securities 47.33 23.00 22.70 23.60 24.00 23.35

Adamjee Insurance 48.24 67.35 65.20 70.85 72.15 68.65

Askari Bank 54.23 15.30 15.15 15.70 15.95 15.55

Azgard Nine 52.95 10.65 10.50 11.15 11.45 11.00

Attock Petroleum 34.30 295.80 294.15 299.30 301.15 297.65

Attock Refinery 70.08 98.85 97.35 102.65 104.90 101.10

Bank Al-Falah 55.19 9.05 8.85 9.65 10.00 9.45

BankIslami Pak 50.81 3.10 3.00 3.40 3.55 3.25

Bank.Of.Punjab 49.73 8.25 8.10 8.70 9.00 8.55

Dewan Cement 49.82 1.45 1.30 1.65 1.75 1.55

D.G.K.Cement 63.08 26.95 26.60 27.70 28.10 27.35

Dewan Salman 58.17 1.60 1.55 1.75 1.80 1.65

Dost Steels Ltd 61.50 2.75 2.65 2.90 2.95 2.80

EFU General Insurance 50.26 40.90 40.30 42.80 44.10 42.20

EFU Life Assurance 48.12 65.90 64.15 71.20 74.75 69.45

Engro Chemical 47.44 174.80 174.20 176.15 177.00 175.60

Faysal Bank 70.15 14.75 14.45 15.30 15.45 14.95

Fauji Cement 43.04 4.75 4.65 4.95 5.05 4.85

Fauji Fert Bin 72.09 30.50 29.80 31.65 32.20 31.00

Fauji Fertilizer 44.68 105.95 105.35 107.15 107.85 106.60

Habib Bank Ltd 54.94 100.55 99.55 102.65 103.75 101.65

Hub Power 43.58 33.20 32.95 33.85 34.25 33.60

ICI Pakistan 51.10 122.65 121.40 125.90 128.00 124.70

Indus Motors 55.82 230.50 229.00 234.00 236.00 232.50

J.O.V.and CO 75.61 3.40 2.75 4.40 4.75 3.75

Japan Power 53.03 1.60 1.55 1.70 1.75 1.65

JS Bank Ltd 60.34 2.55 2.45 2.70 2.80 2.60

Jah Siddiq Co 44.21 9.75 9.60 10.10 10.30 9.95

Kot Addu Power 39.65 39.35 39.20 39.85 40.20 39.70

K.E.S.C 47.60 2.00 1.95 2.20 2.30 2.15

Lucky Cement 57.97 72.50 71.90 73.45 73.80 72.85

MCB Bank Ltd 61.10 201.15 199.70 204.00 205.40 202.55

Maple Leaf Cement 45.31 2.75 2.60 2.95 3.10 2.85

National Bank 46.43 63.45 62.25 66.90 69.15 65.70

Nishat (Chunian) 61.20 20.50 20.10 21.60 22.25 21.20

Netsol Technologies 50.42 18.45 18.25 19.00 19.35 18.80

NIB Bank 42.26 2.60 2.50 2.85 3.05 2.75

Nimir Ind Chemical 54.30 1.45 1.35 1.55 1.65 1.50

Nishat Mills 60.29 51.30 50.95 52.30 52.85 51.90

Oil & Gas Dev XD 68.48 152.40 150.90 155.20 156.50 153.70

PACE (Pakistan) Ltd 58.77 3.05 2.95 3.25 3.40 3.15

Pervez Ahmed Sec 71.34 1.95 1.55 2.60 2.85 2.20

PIAC(A) 55.97 2.20 2.05 2.55 2.75 2.40

Pioneer Cement 50.13 7.65 7.35 8.25 8.50 7.95

Pak Oilfields 54.28 241.45 240.50 243.95 245.45 243.00

Pak Petroleum 51.08 186.15 185.40 187.45 188.00 186.70

Pak Suzuki 42.80 72.45 71.80 74.35 75.65 73.70

PSO XD 47.30 264.65 263.60 267.15 268.60 266.10

PTCLA 36.35 18.05 17.85 18.65 19.00 18.40

Shell Pakistan 23.15 181.25 179.85 184.85 187.05 183.45

Sui North Gas 55.05 31.30 30.75 32.55 33.25 32.00

Sitara Peroxide 76.22 12.15 11.45 13.45 14.05 12.75

Sui South Gas 39.95 23.65 23.10 25.00 25.80 24.45

Telecard 46.69 2.20 2.15 2.40 2.50 2.30

TRG Pakistan 48.27 3.95 3.90 4.10 4.15 4.05

United Bank Ltd 66.35 55.85 55.50 56.75 57.30 56.40

WorldCall Tele 38.92 2.35 2.25 2.60 2.80 2.50

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Agritech Ltd 30-Oct 12:00

Al- Khair Gadoon Ltd 30-Oct 4:00

Ali Asghar Textile Mills Ltd 30-Oct 12:00

Ayesha Textile Mills Limited 30-Oct 11:00

Azgard Nine Ltd 30-Oct 11:00

Babri Cotton Mills Ltd 30-Oct 1:30

Colony Mills Ltd 30-Oct 12:30

D.S Industries Ltd 30-Oct 2:00

Dewan Automotive Engineering Ltd 30-Oct 12:00

Dewan Cement Limited 30-Oct 11:00

Dewan Farooque Motors Ltd 30-Oct 11:30

Dewan Farooque Spinning Mills Ltd 30-Oct 3:30

Dewan Khalid Textile Mills Ltd 30-Oct 2:30

Dewan Mushtaq Textile Mills Ltd 30-Oct 3:00

Dewan Textile Mills Ltd 30-Oct 12:30

Elahi Cotton Mills Limited 30-Oct 10:30

Faysal Balanced Growth Fund 30-Oct 11:00

Faysal Income & Growth Fund 30-Oct 11:00

Faysal Islamic Savings Growth Fund 30-Oct 11:00

Faysal Savings Growth Fund 30-Oct 11:00

BOARD MEETINGS

Company Date Time

Saturday, October 30, 2010 8

MissionImpossible 4

termed “Ghost

Protocol”: Cruise

Oscar-nominated actorTom Cruise said that hewanted the fourth

installment of action block-buster "Mission Impossible" tobe known by its subtitle:"Ghost Protocol".

"All I wanted is not to have anumber ... I always thought weshould have a title aside from'Mission Impossible'," Cruisetold a news conference inDubai, where he is currentlyfilming.

"It is going to be 'MissionImpossible' and 'GhostProtocol' -- that will be the titleof this film."

Major parts of the film willbe shot in Dubai, but sceneswill also be shot in Moscow,Prague and Vancouver, accord-ing to Paramount Pictures, aunit of Viacom Inc.

"Dubai is very cinematic sowe are happy to be here,"Cruise said.

"It's almost like sets that youcould never afford, so we'revery lucky I think to be the firstin really photographing Dubaias Dubai," director Brad Birdsaid.

When asked about the typeof stunts that will be used inthe film, he said: "Big ones,really big ones."

The cast include JeremyRenner, nominated for anOscar for his role in the 2009war film "The Hurt Locker".Other actors include SimonPegg and Paula Patton.

Cruise is producing the filmwith J.J. Abrams who lastteamed up with the actor in2006 for "Mission: ImpossibleIII" with Cruise in the role ofsuper agent Ethan Hunt whobattles bad guys and saves theworld from evil.

If your child spends hoursgazing into his fish tank, thenan aquarium-themed bedroommay be just the thing to pleaseyour little underwater adven-turer. Read on for several fish-friendly decorating ideas thatyour child is sure to love.

Floor- Bath mats are nolonger just for the bathroom.Purchase a few fish-shapedbath mats, and scatter themaround you child’s room. Theno-skid backing makes themideal for use in a kid’s room!

Walls- Turn the walls into afun play area for your child bymagnetizing them! Start byapplying magnetic paint to theentire wall. (This product isavailable at most homeimprovement centers.) Then,give the walls an underwaterfeel by painting over top of themagnetic paint with blue paint.Finish by creating several fishmagnets to stick on the walls.(This can be accomplished byprinting out pictures of fish andapplying them to an adhesive-backed magnet.) Cut outaround the outline of the fish,and your project is complete.Your child is sure to have hoursof fun arranging the fish mag-

nets on his walls!Dresser- Give your child’s

dresser a fishy feel by dressingit up with some fish-themedfabric. Purchase a couple yardsof fish fabric, and cut out pan-els to fit the front of each draw-er. Then, remove the knobsfrom the dresser, and apply thefabric with Mod Podge oranother heavy duty glue. Finishby screwing the knobs backonto the drawers, and the dress-

er is ready for use.Bed- No aquarium-themed

room would be complete with-out an actual aquarium. To cre-ate a focal point for your child’sroom, just place a large aquari-um at the head of the bed inplace of a headboard. Yourchild will love having his fishclose by while he sleeps; and asan added bonus, the aquariumlighting will serve as a night-light.

Pillows- Give the room a per-sonal touch by creating pillowswith pictures of some yourchild’s pet fish. To completethis project, start by taking pic-tures of your child’s fish. Then,scan the pictures into the com-puter, and print them out oniron-on transfer paper (avail-able at office supply stores).Finish by ironing the picturesonto your child’s pillows.

Curtains- Add a touch ofwhimsy to the room by usingfish-printed shower curtains forthe room’s window treatment.Then, complete the look byapplying fish window clings tothe windows. You can usestore-bought clings or makeyour own using a stained glasswindow paint like GalleryGlass. (Visit your local craftstore for supplies.)

Storage- Create underwaterstorage for you child’s toys bydecorating a storage containerto look like an aquarium. Justpurchase a large storage tote,and paint water, fish and plantlife onto the outside of the con-tainer with fabric paint. Note: Ifyou aren’t happy with the wayyour design turns out, just peelit off, and try again.

Aquarium furniture, crafts, decorating

Director Rohit Shetty hascarved a niche for him-self in the industry with

his blockbuster Golmaal series.The last two films were superhits and he made the charactersof the film very popular withhis unique comedy timing.

However, there is one actoror say actress, who is not veryhappy with the director and sheis none other than our very ownKareena Kapoor, who has beenassociated with the series sincethe second film.

In Golmaal Returns, the sec-ond part, Bebo was portrayedas the television serial freakwife Ekta, who keeps on sus-pecting her husband, played byAjay Devgn. Their chemistryrocked and the film was a bighit of the year.

However, Kareena does notseem to be very happy with thedevelopment of the third film.She found the treatment of thefilm very boring and comic sit-uations very repetitive. Shewas fed up shooting at the

same locations again andagain. There is a buzz thatBebo is quite miffed with thedirector Rohit Shetty.According to her, Rohit hasgiven a very out-of-date look tothe third film, which is likely tohit the theaters during this fes-tive season of Diwali.

The reports suggest that mostof the scenes in the film havebeen shot in Goa. The earliertwo films were also shot at thesame places and this hasannoyed Kareena and that hasmade her doubt about the direct-ing skills of Shetty. As per thesources, the monotony oflocales is not liked by Bebo andshe wants the director to take adifferent approach on the film.A recent report has indicatedthat Kareena wants Rohit toshoot the film in foreign locales.So, does she want Shetty toshoot the film in her favoritedestination Switzerland? Well,this sounds to be a new gim-mick to promote the film justbefore the release!

After 'Housefull' and'Khatta Meetha',Akshay Kumar is

ready with his third release ofthe year - 'Action Replayy'.This is not all as before theend of 2010, he would also beseen in 'Tees Maar Khan'.While he goes ahead at anunrelenting pace, his contem-poraries too have been doingwell for themselves.

While Aamir Khan has pret-ty much created a world of hisown, especially so after '3Idiots', Salman has come backwith a bang as well after'Dabangg'. Meanwhile, ShahRukh is waiting for the killwith 'Ra. 1' and 'Don' lined up.So does one see some goodbattle beginning once again in2011 between all these actorswhen it comes to occupyingthat top slot?

"There are no battles or warsbut I'm sure the media willmake it a great adventure forus. It's going to be lively forsure", laughs Akshay whenasked to comment.

Turning serious, he goes onadd, "I think all of us are pastthe 'fight for the top slot'stage. We have created ourown slots and are happy doing

our own thing."On a different note, while

there was so much being saidand written about his so-called rivalry with Shah RukhKhan till about a year or soback, today the focus hasshifted to Shah Rukh-Salmantussle. For someone like himwho has been known for hisnon-confrontational image,does it sound all so unneces-sary after all?

"You said so yourself, I'mnon-confrontational. I'd be afool to comment now, would-n't I", states Akshay with astraight face before signingoff.

I’m not at war withSRK, Salu: Akshay

BipashalaunchesAircel in

Rajasthan

Bollywood actress BipashaBasu today launchedAircel GSM mobile in

Rajasthan completing pan-Indiafootprint for the service providerwith lowest rates and packages,including pocket internet.

Basu, who made her first callfrom the newly-launched phoneto Aircel chief operating officerGurdeep Singh, said Rajasthanhas made tremendous develop-ment and growth in IT sector, andwill welcome this very service.

Singh said Rajasthan was thelast destination to come with

Aircel, and it will cover 23 dis-tricts with an investment ofRs500 crore in first phase, andRs300 crore more in 2011-12.

Singh said Aircel would beproviding innovative pocketinternet cards to customers forunlimited browsing for a periodof 30 days at Rs98.

He also announced the first'Pocketapps Store' in associationwith Infosys this year, with aweekly charge of Rs7 with freedownload.

Besides, pre-paid, post-paid,inbult vas and data, internationalcalling cards, and business packfor SMEs would be providedwith new plans on competitiveprices, Singh said.

Talking about her love for thestate, Basu said: "Rajasthan'sfood, dresses and designs aregreat. We all love Rajasthan. It isfull of culture, beauty and Ialways love to visit the desertstate."

On Aircel's 'Save Our Tigers'campaign, she said that it wascruel that tiger population isdwindling due to alleged poach-ing. The programme needscom-plete support of the governmentand non-government organisa-tions. "I am sure the new genera-tion must be catching up with thecampaign," she said.

When asked whether shecomes on Facebook, Basu saidsocial networking is her passion,as it keeps her hooked to heraudience.

MUMBAI: Bollywood actress Sushmita Sen displays a creation from the collection of Vero Moda, Jack & Jones and Only' in Mumbai. Reuters

Kareena not happywith Rohit Shetty

Academy Award winningdirector Oliver Stonepraised India and its

flamboyant Bollywood indus-try as he accepted a LifetimeAchievement Award at the 12thMumbai Film Festival.

"I came here many years agoto Calcutta as a young man tolearn about another way ofthinking," Stone said to astanding ovation at one of theoldest movie theatres in thecountry's financial and enter-tainment capital.

"I returned many times andlearned many things from you.You have a great culture andmake great movies. I am hon-oured to receive this awardfrom you."

The festival's organiserscalled Stone the "quintessentialrebel child of Hollywood" who

was unchanged by success."He has never hesitated to

tackle any issue howevertouchy it is. He definitelydeserves all our respect,"Srinivasan Narayanan, the fes-tival director, told Reuters afew hours before the ceremony.

"He is one of the most prolif-ic film makers we have today."

Stone's last film, "WallStreet: Money Never Sleeps",the sequel to his 1987 classic,"Wall Street", did modest busi-ness. The director said earlierthis week he had expectedsome people would be disap-pointed. "I think it might disap-point some people that it's notthe old 'Wall Street' but I wouldnever remake that film. This isthe new Wall Street and it'sworse in many ways. It's hard-er," he said. Stone has won

three Oscars in a career span-ning three decades, exploringthemes like war, greed and pol-itics. The 64-year-old filmmaker, who says his main pur-pose for the visit to India is tointroduce local audiences to his2004 epic "Alexander",screened a re-cut version of thefilm, running into four hourslate on Wednesday."'Alexander' is a three-yearlong effort, and the new ver-sion changes the structure ofthe film -- gives them a chanceto understand the relationshipsin the film," Stone told a newsconference. The film -- whichstarred Angelina Jolie, ColinFarrell and Anthony Hopkins,parts of which were filmed inIndia -- received a mixedresponse when it was releasedin 2004.

Oliver Stone honoured atMumbai Film Festival

MUMBAI: Indian Bollywood

film actress Malaika Arora

Khan throws open the Gillette

Challenge. -Reuters

Bollywood actor Amitabh Bachchan, poses with his family, Aishwarya , Abhishek andJaya, after receiving the award for the best actor during the 57th National Film Award.

LONDON: Base metals fell onFriday and copper touched athree-week trough, as marketscut risk and investors turnedcautious ahead of next week'spivotal Federal Reserve meeting.

Three-month copper on theLondon Metal Exchange closedat $8,199 a tonne, having earli-er fallen to $8,140, its lowestsince Oct. 8, from $8,340 at theclose on Thursday. Earlier thisweek the Metal used in powerand construction reached$8,549 a tonne, its highestsince July, 2008.

The main market focusremains what the Federal OpenMarket Committee (FOMC)will decide at its meeting ofNov. 2-3 about the possibilityand scale of a new round ofquantitative easing (QE).

Aluminium, tin and nickelsank to their lowest in around amonth while zinc and lead fellby some 4 per cent earlier in thesession. Investors eyed US eco-nomic growth figures, with GDPedging up as expected in thethird quarter, but not enough tochip away at high unemploy-ment or change perceptions ofmore monetary easing from the

Federal Reserve next week.Meanwhile, the Institute for

Supply Management-Chicagosaid on Friday its index ofMidwest business activity rosein October and beat analysts'expectations.

LME inventories of copperrose by 475 tonnes, the latestdata showed, with total invento-ries at 368,500 tonnes, reflect-ing a slowdown in the pace ofdecline. However, LME stockshave fallen by a third fromcycle highs above 555,000tonnes in mid-February.

In other metals, inventoriesof tin and zinc also grew, datashowed. Zinc stocks have

jumped by over 15,000 tonnesinto New Orleans this week.

A trader said that most indus-tries are well supplied with Metaland will want to keep low levelsof inventories over the end of theyear, which will curb demand forphysical Metal. Aluminium fellas low as $2,305 a tonne, its low-est since Oct. 1, and closed at$2,345 from $2,347. The UnitedStates on Thursday slapped anadditional 59.31 per cent duty onimports of a key aluminiumproduct from China.

Nickel closed at $22,990 atonne, from a bid of $23,100. Itearlier fell as far as $22,661, aone-month low. Lead was at$2,448 a tonne, down from$2,505.50, while zinc closed at$2,423 a tonne, a decline from$2,494. Tin tumbled to$25,050 a tonne at one point,its cheapest since Oct. 5, laterclosing at $25,600 from a closeof $26,250. -Reuters

Copper weakens on riskreduction, Fed eyed

9Saturday, October 30, 2010

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1245 1185

October (3rd Wednesday) 1195 1125

November (3rd Wednesday) 1210 1125

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for October 28 2010

LME Official Prices, US$ per tonne for October 28 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2190 2307 8331 2478 23075 26290 2463 2200

Cash seller 2191 2308 8332 2480 23080 26300 2464 2210

3-months buyer 2190 2337 8339 2503 23100 26250 2492 2240

3-months seller 2195 2338 8340 2505 23105 26300 2493 2250

15-months buyer 2130 2382 8145 2467 22675 25700 2518 2290

15-months seller 2140 2387 8155 2472 22775 25750 2523 2300

27-months buyer 2130 2433 7735 2433 21725 2483 2345

27-months seller 2140 2438 7745 2438 21825 2488 2355

LONDON METAL EXCHANGE (METALS)

NEW YORK: Oil prices fellon Friday after data showingtepid US economic growth inthe third quarter left investorscautious ahead of expectedmonetary easing from the USFederal Reserve.

End-of-month positioningand profit taking along with theexpiration on Friday of USNovember refined oil productscontracts alsowere cited as fac-tors pressuringoil, along withd i s a p p o i n t i n geconomic data outof Germany andIndia.

The US econo-my grew at a 2.0per cent annual rate, up from1.7 per cent in the second quar-ter and in line with expecta-tions but unable to chip awayat high unemployment.

US crude for Decemberdelivery fell 95 cents, or 1.16per cent, to $81.23 per barrelby 1654 GMT. A finish above$79.97 would still allow oil topost a second straight monthly

gain and the first monthly closeabove $80 a barrel since April.

In London, ICE BrentDecember crude fell 67 cents,or 0.8 per cent, to $82.92 a bar-rel.

"The initial (GDP) estimatewas in line with expectations,but might be seen as strongenough to limit the size of theanticipated Fed move to ease -

- the so called QE2," TimEvans, analyst at Citi FuturesPerspective in New York, saidin a note.

Investors remain cautiousahead of US mid-term elec-tions next Tuesday and theprospects that the Fed willannounce another round ofasset buying next Wednesday.

Disappointing data out of

Germany, Europe's largesteconomy, also weighed on oil.Germany's retail sales inSeptember posted their biggestmonthly drop in 2-1/2 years.

India's domestic oil productsales fell an annual 1.9 per centin September, its secondstraight monthly decline, gov-ernment data showed onFriday.

India's crudei m p o r t sdeclined anannual 21.9per cent to10.94 milliontonnes orabout 2.67million barrelsper day in

September when Indian refin-ers processed 10.2 per cent lessoil versus a year ago.

The French strike over pen-sion reforms eased further.Workers at the Fos-Lavera oilterminal near the southernFrench port of Marseille votedto end a month-long strike, andoil tankers will start unloadinglater on Friday. -Reuters

Oil slips on economicworry awaiting Fed move

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Friday'sRotterdam vegetable oil price'sat 21:00 PST.

SOYOIL: EU degummedeuro tonne fob exmillNov10/Dec10 868.00-10.00,Jan11/Mar11 870.00-5.00,Apr11/Jun11 864.00-8.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Feb11/Apr11860.00-8.00, May11/Jul11865.00-5.00, Aug11/Oct11855.00-5.00.

SUNOIL: EU dlrs tonneextank six ports optionJan11/Mar11 1370.00,Apr11/Jun11 1350.00,Jul11/Sep11 1370.00.

LINOIL: Any origin dlrstonne extank RotterdamOct10/Nov10 1305.00-5.00.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Nov101050.00+0.00, Dec101045.00+0.00, Jan11/Mar111032.50-7.50, Apr11/Jun111030.00-10.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Dec10 1060.00,Jan11/Mar11 1057.50.

PALMOIL: RBD dlrs tonnefob Malaysia Dec10 1015.00-10.00, Jan11/Mar11 1012.50-10.00.

PALM OLEIN: RBD dlrstonne fob Malaysia Dec101025.00-10.00, Jan11/Mar111022.50-10.00, Apr11/Jun111027.50-7.50.

PALM STEARIN: Dlrs tonnefob Malaysia Nov10 1000.00-10.00, Dec10 1000.00-10.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1440.00-5.00,Nov10/Dec10 1440.00-5.00,Dec10/Jan11 1440.00-5.00,Jan11/Feb11 1440.00-5.00.

CASTOROIL: Any origindlrs tonne extank RotterdamOct10/Nov10 1925.00+0.00. -Reuters

National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest

Date Quotation in lots Settlement Settlement in Lots

Price Price

29-Oct-2010 CRUDE100 DE10 US$ Per Barrel 82.50 82.60 81.35 82.06 175 81.75 82.06 46

29-Oct-2010 CRUDE100 JA11 US$ Per Barrel 83.25 83.25 82.12 82.80 24 82.53 82.80 12

29-Oct-2010 CRUDE100 FE11 US$ Per Barrel 83.79 83.79 83.41 83.41 - 83.16 83.41 -

29-Oct-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 23.78 24.22 23.60 24.16 340 24.00 24.16 18

29-Oct-2010 SILVER - SL500 JA11 US$ Per Troy Ounce 23.80 24.18 23.80 24.18 - 24.02 24.18 -

29-Oct-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1336.30 1352.90 1330.00 1349.50 2,289 1340.80 1349.50 608

29-Oct-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1337.10 1353.50 1331.00 1350.40 1,228 1341.70 1350.40 1,245

29-Oct-2010 GOLD 01oz FE11 US$ Per Troy Ounce 1337.90 1354.00 1333.00 1351.40 184 1343.50 1351.40 177

29-Oct-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1335.60 1351.10 1335.60 1349.50 15 1340.80 1349.50 4

29-Oct-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1336.80 1350.40 1336.80 1350.40 - 1341.70 1350.40 -

29-Oct-2010 GOLD 100oz FE11 US$ Per Troy Ounce 1338.60 1350.40 1338.60 1350.40 - 1343.50 1351.40 -

29-Oct-2010 GOLD NO10 Per 10 grms 36875.00 37303.00 36875.00 37303.00 7 37052.00 37303.00 46

29-Oct-2010 GOLD DE10 Per 10 grms 36894.00 37312.00 36894.00 37312.00 3 37060.00 37312.00 7

29-Oct-2010 GOLD JA11 Per 10 grms 36948.00 37329.00 36948.00 37329.00 - 37078.00 37329.00 -

29-Oct-2010 Kilo GOLD NO10 Per 10 grms 37100.00 37275.00 36894.00 37275.00 1 37024.00 37275.00 -

29-Oct-2010 Kilo GOLD DE10 Per 10 grms 36903.00 37284.00 36903.00 37284.00 - 37033.00 37284.00 -

29-Oct-2010 Tola Gold50 NO10 Per Tola 43043.00 43477.00 43043.00 43477.00 - 43184.00 43477.00 -

29-Oct-2010 Tola Gold100 NO10 Per Tola 43033.00 43477.00 43033.00 43477.00 - 43184.00 43477.00 -

29-Oct-2010 Mini Gold 1-Aug Per 10 grms 37955.00 38327.00 37955.00 38327.00 - 38073.00 38327.00 -

29-Oct-2010 Mini Gold 2-Aug Per 10 grms 37994.00 38367.00 37994.00 38367.00 - 38113.00 38367.00 -

29-Oct-2010 Mini Gold 3-Aug Per 10 grms 38008.00 38380.00 38008.00 38380.00 - 38126.00 38380.00 -

29-Oct-2010 Mini Gold 4-Aug Per 10 grms 38021.00 38393.00 38021.00 38393.00 - 38139.00 38393.00 -

29-Oct-2010 Mini Gold 5-Aug Per 10 grms 37941.00 39407.00 37941.00 39407.00 - 38152.00 39407.00 -

29-Oct-2010 TT Gold 1-Sep Per Tola 43750.00 44037.00 43603.00 44037.00 1 43741.00 44037.00 1

29-Oct-2010 TT Gold 2-Sep Per Tola 43750.00 44083.00 43649.00 44083.00 1 43787.00 44083.00 1

29-Oct-2010 TT Gold 3-Sep Per Tola 43664.00 44099.00 43664.00 44099.00 - 43802.00 44099.00 -

29-Oct-2010 IRRI6W 04NO10 Per 100 kg 2402.00 2402.00 3310.00 3332.00 - 3310.00 3332.00 -

29-Oct-2010 Rice IRRI - 6 NO10 Per 100 kg 3331.00 3345.00 3331.00 3345.00 - 3331.00 3345.00 -

29-Oct-2010 RBD Palm Olein NO10 Per Maund 4528.00 4528.00 4497.00 4497.00 - 4528.00 4497.00 -

29-Oct-2010 KIBOR3M 10-Dec Per Rs. 100 86.74 86.74 86.74 86.74 - 86.74 86.74 -

29-Oct-2010 KIBOR3M 11-Mar Per Rs. 100 86.15 86.15 85.83 85.83 - 85.80 85.83 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Indiansugar risesfor 2nd day

MUMBAI: India's spot sugarrose for a second straight dayon Friday on firmness in over-seas markets and as the upcom-ing Diwali festival lifted retaildemand, dealers said.

"For last two days demandwas good due to Diwali.Stockists were also active,"said a member of BombaySugar Merchants Association(BSMA).

Demand for sugar usuallygoes up ahead of Diwali, theHindu festival of lights, whichfalls in the first week ofNovember.

In Kolhapur, a key market intop-producing Maharashtrastate, the most traded S-varietyrose by 0.42 per cent to 2,600rupees ($58.6) per 100 kg.

New York sugar edged up inearly on Friday, as dealersnoted the outlook for sugar sup-plies remained tight, with2010/11 surplus forecasts beingrevised lower.

India is likely to take a deci-sion on sugar exports after thesecond week of November,Farm Minister Sharad Pawarsaid on Wednesday.

He said the country is likelyto produce 25 million tonnessugar in 2010/11. -Reuters

KATHMANDU - NEPAL: Nepalese farmers thresh and winnow rice grain with the help of oxen at

a paddy field in the village of Arghaun in Pokhara, some 200 kms west of Kathmandu. -Agencies

LONDON: Gold prices rose atouch on Friday as the dollarcrept lower ahead of a keyFederal Reserve meeting nextweek, at which the central bankis expected to discuss furtherUS monetary easing.

Depending on its scope, afresh round of quantitative eas-ing could have a major impacton the dollar and inflation out-look, both potentially signifi-

cant for gold, analysts said.Spot gold was bid at $1,346.61

an ounce at 1413 GMT, against$1,343.35 late in New York onThursday. US gold futures forDecember delivery rose $4.40 to$1,346.90. "Next week will be abig one news-wise -- the FOMC,the mid-term elections, as wellas non-farm payrolls," saidAfshin Nabavi, head of tradingat MKS Finance in Geneva.

"I think the market was intra-day short and saw some stop-loss buying, which took themarket towards $1,353."

The dollar index edged down0.1 per cent, drifting betweenpositive and negative territoryafter US data showed gross

domestic product expanded ata 2.0 per cent annual rate asexpected in the third quarter.

The data did nothing toreduce expectations theFederal Reserve will commit toa new round of monetary stim-ulus next week, analysts said.

Indian gold buying retreatedon Friday after a 1.4 per centrise in spot prices in the previ-ous session as most traders

waited for a dip to stock up inthe run-up to Dhanteras andDiwali next week, dealers said.

On the investment side,holdings of the world's largestgold-backed exchange-tradedfund, New York's SPDR GoldTrust, dipped by just over 5tonnes on Thursday, bringingits total outflows in Octoberso far to 11.7 tonnes.Elsewhere, palladium rose toa peak of $640.05 an ounce,its highest since May 2001.Spot palladium was later at$637.75 against $622.99.

Spot platinum was at $1,697an ounce against $1,688, whilesilver was at $24.17 against$23.97. -Reuters

Gold gains towards$1,350 ahead of Fed

KUALA LUMPUR: Malaysianpalm oil futures eased from two-year highs on Friday althoughlosses were limited late in thesession after an official said thegovernment will push a newreplanting scheme next year.

Global vegetable oil marketsfell as cautious investors tookprofits on fragile economicrecovery and uncertainties inthe commodity and equity mar-kets while the bruised dollarsteadied. The benchmarkMalaysian crude palm oilfutures ended 0.8 per cent lowerat 3,061 ringgit ($984.9) pertonne, easing from the two-yearhighs hit the previous day.

Traded volume stood at14,397 lots of 25 tonnes each,up from the usual 10,000 lots of25 tonnes each. A Reuters tech-nical analysis showed a bullishtarget at 3,194 ringgit per tonne

for Malaysian palm oil isunchanged, as the uptrend con-tinues after a new high at 3,086ringgit was touched during theprevious trading session.

Losses were limited after atop Malaysian industry officialsaid the government will carryout new scheme to replant365,000 hectares of oil palmsolder than 25 years to lift flag-ging output. In Asian tradehours, US soyoil for Decemberdelivery fell 1.5 per cent aheadon concerns that the US econo-my may have slowed whenthird quarter gross domesticdata is issued later in the day.

The most active September soy-oil on China's Dalian CommodityExchange dropped 2.4 per cent astraders took profits, while await-ing more cues from US Fed meet-ing next week, said a Shanghai-based oil analyst. -Reuters

Palm oil eases; losseslimited on supply

Coffee upon supplyconcerns

LONDON: Coffee futuresprices rose on Friday, consoli-dating recent gains to tradeslightly below peaks touchedearlier this week, supported bysupply concerns in key pro-ducers Vietnam and Colombia.

ICE front-month raw sugarfutures prices rose and toucheda nine-month high of 29.80cents a lb, while cocoa futuresslipped with attention focusedon Sunday's election in topgrower Ivory Coast.

Liffe January robusta coffeefutures remained in sight of atwo-year high of $1,975 atonne, and traded up $38, or 2per cent, at $1,952 a tonne inreasonable volume of 6,868lots at 1444 GMT.

ICE December arabica cof-fee was near its 13-year highof $2.0460 a lb, and was up 4.6cent or 2.3 per cent at $2.0120a lb.

The arabica market has beenunderpinned by years of lowerthan expected production fromColombia, and robustas are infirm demand due to the highpremium on arabicas, dealerssaid.

ICE raw sugar futures pricesrose 0.79 cent or 2.75 per centto 29.50 cents a lb, having ear-lier touched 29.80 cent, a nine-month high, very near the 29-year high of 30.40 cents a lbtouched on Feb. 1.

Traders attending LondonSugar Week events were over-whelmingly bullish on theprice outlook for the sweetenerand said it seemed inevitablethat ICE raw sugar futureswould soon test a 30-yearhigh.

Dealers said a decision byIndia, the world's no. 2 sugarproducer after Brazil, onwhether to allow exports waskey to prices in coming weeks.

London December whitesugar was down $1.30 or 0.2per cent at $729.00 per tonnein modest volume of 1,637lots.

Cocoa prices eased as deal-ers monitored political activitybefore Sunday's election in topgrower Ivory Coast.

ICE December cocoa wasdown $56 or 2 per cent at$2,789 per tonne, while Liffesecond-month March cocoawas down 22 pounds or 1.2 percent at 1,881 pounds a tonne. -Reuters

NEW YORK: US cottonfutures finished lowerThursday on fund rolling-related sales, with pressurefrom the process of movingpositions out of the spot con-tract seen pressuring the mar-ket into next week, analystssaid.

The market shruggedoff the impetus fromstronger Chinese cottonprices and the fall in thedollar. A weaker green-back would normallygive US cotton contracts aboost.

"It's the index fund roll,"said Mike Stevens, an inde-pendent cotton analyst inLouisiana. "They (the indexfunds) are selling Decembercotton contract and buyingMarch and putting pressureon the market," he said. Themarket had risen nearly 80per cent since the start of itsrally in July to an all-timerecord of $1.305 this week.Over the last two days, cottonfutures had dropped over 6per cent in value as the rollbegan in earnest.

ICE Futures US keyDecember cotton contractdropped 1.91 cents to end at$1.2168 per lb, three ticksabove the day's low. Total

volume traded in cotton hit ahefty 56,404 lots at 1853GMT, some 131 per centabove the 30-day average at24,379 lots, Thomson Reuterspreliminary data showed.

In China, the ZhengzhouCommodity Exchange'sbenchmark May cotton

futures was last traded at27,825 yuan per tonne, up705 yuan from the previousclose.

Analysts said the cottonmarket remained fundamen-tally bullish because of strongdemand for the fibre, tightstocks and the willingness offunds to keep investing infibre contracts because theybelieve it will remain firm.

For the first time in sixweeks, the volume of US cot-ton export sales sloweddown. The US AgricultureDepartment's weekly exportsales report showed total UScotton sales at 300,800 run-ning bales (RBs, 500-lbseach), the first time it hadfallen below 570,000 lots inover five months. -Reuters

US cotton settles downTokyo rubber

hit 2-wk lowTOKYO: Key Tokyo rubberfutures fell to a near three-weeklow as investors followed othercommodities markets whichlost ground on profit-taking,and kept a close eye onShanghai rubber futures forclues to market direction.

The key Tokyo CommodityExchange rubber contract forApril delivery settled down 9.9yen or 2.9 per cent at 326.9 yenper kg, after falling as much as3.5 per cent to a low of 325.1yen earlier, the lowest for anybenchmark since Oct. 12.

The benchmark TOCOMcontract posted a monthly gainof 5 per cent, narrowing from a6 per cent monthly gain forSeptember, and ended the weekdown 1 per cent.

The most active Shanghairubber futures for May deliveryclosed on Friday at 30,740yuan ($4,597) per tonne, down4.9 per cent from the previousclose of 32,320. The contractfell as low as 30,520, just abovethe limit-down of 30,270.Trading volume stood at 1.09million lots. The most activeShanghai rubber futures fell 1.7per cent on the week, thebiggest weekly drop since mid-September. -Reuters

Shanghai metals lowerShanghai copper fell 2 per

cent to 62,400 yuan, whileShanghai zinc closed down4.7 per cent at 19,385 yuan,just 100 yuan above itsdownside limit.

NY cotton early-tradeICE December cotton futures

climbed 3.63 cents to $1.2531 per lb

on volume of 4,852 lots.

US Q3 GDP up but tepid growth seen weighing on oil

10Saturday, October 30, 2010

FIFA President Blatter displays a brochurecontaining the FIFA code of ethics

Aisamenters St

Petersburgsemis

KARACHI: Aisam-ul-HaqQureshi and Rohan Bopannaentered the semi-finals of theSt Petersburg Open after eras-ing their one-set deficit againstthe Serbian pair JankoTipsaveric and Viktor Troicki.

The Indo-Pak Express man-aged a 3-6 7-6(4) 10-3 winover their rivals in the quarter-finals of the ATP WorldChampionships.

Qureshi and Bopanna hadearlier defeated the team ofRussian Mikhail Youzhny andUkrainian Sergiy Stakhovskyin their first round match in theevent.

The pair will now face theirthird seed Filip Polasek andIgor Zelenay of Slovakia in thesemi-finals.-Agencies

Akhtersends Smithto hospital

ABU DHABI: South Africancaptain Graeme Smith wastaken to hospital for an X-rayon Friday evening after abouncer from speedster ShoaibAkhtar struck him on the backof palm in the first Day/ NightInternational against Pakistanat Sheikh Zayed Stadium here.

"He (Smith) has been takento the hospital for a precaution-ary x-ray after he was struckon the left hand," SouthAfrican Media Manager said.

Physiothrapist rushed to theground after Smith was struckon the hand in the fifth over ofthe match as South Africawere chasing Pakistan's mod-est total of 204 to take the 1-0lead in the series.

"We can only comment onthe extent of Smith's injury orotherwise after receiving the x-day report," the MediaManager commented.

After receiving the ball onthe hand and getting treatmenton the ground, lanky left hand-ed batsman Smith came off theground in pain and was rushedto the hospital.

This is the third time, GraemeSmith had been hit on the handand twice he broke his knucklein last 18 months.-APP

DOHA: Caroline Wozniackirolled up her sleeves and bat-tled back from a set down todefeat Francesca Schiavone ofItaly 3-6 6-1 6-1 at the WTAChampionships on Thursday,sewing up the year-end worldnumber one ranking.

Also in the Maroon Group,Australian Samantha Stosurlost 4-6 6-4 7-6 to RussianElena Dementieva but by win-ning the first set booked herplace in the last four alongsideWozniacki.

Belgium's Kim Clijsters alsobeat Victoria Azarenka ofBelarus 6-4 5-7 6-1 toadvance to the semi-finalsfrom the White Group alongwith Vera Zvonareva.

Wozniacki needed two wins

at the $4.55 milliontournament in theQatari capital toensure she could notbe caught at the topof the rankings byRussian Zvonareva.

After blowingaway Dementieva inher group opener, theDane suffered ashock defeat toStosur Wednesday togive Zvonarevahope. However, the20-year-old made nomistake againstSchiavone.

"Francesca wasplaying really goodin the first set and Ididn't have too many

chances to breakher," said Wozniackiin a court-side inter-view.

"I just hung in thereand kept my focus,tried to get a littlemore aggressive andnot let her dictate thegame in the secondand third."

Wozniacki wasdelighted to finish theyear as the world'stop player.

"That's somethingI've dreamed aboutsince I was a littlegirl," she beamed."I'm really happy andproud of what I'veachieved this year."

With maroon and whiteQatari flags fluttering abovethe Khalifa Tennis Complex,conditions were much morecomfortable for the playersthan the oppressive humidityof the first two days.

Schiavone came out firingon all cylinders and caught theDane off guard, tearingaround the court after everyball, living and dying everypoint.

The Italian raced into a 4-1lead, prompting Wozniacki'sfather and coach Piotr to comeout on court for a pep talk,before thumping a trio of acesat 5-3 to reach set point andunleashing a backhand winnerdown the line to draw firstblood.-Reuters

Wozniacki rises to tennis top slot

KARACHI: Pakistan's SalmanButt and Mohammad Amir areconfident their suspensions willbe lifted at a hearing in Dubai thisweekend, they said on Friday.

The pair, suspended lastmonth following allegations ofspot-fixing during the recenttest series against England, leftKarachi with their lawyers toattend the hearing by an inde-pendent tribunal of theInternational Cricket Council.

"Obviously we are very hope-ful of having these suspensionsremoved at this hearing as ourlawyers have prepared a verystrong case," Butt told reporters.

"Our lawyers are experiencedprofessionals and have told usthis case can be decided quickly."

Butt, who captained Pakistanin the test series againstEngland, and fast bowlers Amirand Mohammad Asif were sus-

pended last month after theywere linked by the News of theWorld newspaper to allegedspot-fixing during the fourthtest at Lords.

The trio appealed against theirsuspensions but Asif withdrewhis appeal on the grounds thathe wanted more time to preparefor his challenge.

Teenager Amir said he wasconfident of having his suspen-sion removed.

"I have said all along whatev-er anyone has said that we areinnocent and we have donenothing wrong. There is nothingincriminating against us and wewill have these suspensionsremoved soon," Amir said. Theleft-armer said he was ready tomake a quick comeback to thenational team for the seriesagainst South Africa if his sus-pension is lifted.-Reuters

Butt, Amirconfident overappeal hearing

LONDON: London 2012 mayfail to deliver on its pledge tobe the greenest Olympics everif it does not address poor airquality and renewable electric-ity targets, a report said onFriday.

Organisers promised to makethe Games the most sustainablein recent history, and a reportby the London Assembly'senvironment committeepraised the innovative workdone to map and reduce theevent's carbon emissions andrecycle waste.

But the report, called "Goingfor Green," expressed concernthat organisers had ditchedplans to use wind turbines onthe Olympic Park to generatepower and failed to securemore electric cars to ferry offi-cials and athletes.

"We remain concerned thatthis may not be the transforma-tive event we were promised,"committee chair DarrenJohnson said.

The Games are expected tocreate 8,250 tonnes of wasteand 1.1 million tonnes of car-bon dioxide equivalent emis-sions.

The report warned air qualityon key transport routes couldfail European Union standardsunless the mayor introducesemergency measures duringGames-time. It recommendedthe government took actionbefore then.

It also recommended organis-ers work with ticket distributorsas well as coach and rail com-panies, where possible, in aneffort to cut down on airplanecarbon emissions.-Reuters

London hasto strive for

“green” Olympics

Tauseef Mallick

KARACHI: Shahid Afridiasked Graeme Smith at thetoss on Friday who LonwaboTsotsobe was. Having alreadyengineered two top-order col-lapses in the Twenty20 inter-nationals, Afridi should haveknown him, but a four-wickethaul that set up an eight-wick-et South African triumph inthe first ODI should leave himin no more doubt.

Lonwabo Tsotsobe hasalready been responsible fortwo top-order Pakistan col-lapses so far on this tour. Inthe first ODI of an importantseries in the run-up to the2011 World Cup at the SheikhZayed Stadium, alongside

Johan Botha, Tsotsobereversed his order of destruc-tion, partaking in a middle andlower-order collapse that shutout Pakistan for a meager 203.

The key script was writtenin the middle overs, the deadair of ODIs at which so manyfingers are pointed. Cruisingalong at 140 for 1, on the backof half-centuries fromMohammad Hafeez andYounis Khan, Pakistan lost themeat of a potentially game-changing middle orderbetween the 31st and 40thovers. Credit should not betaken from Tsotsobe and com-pany, but to say the bowlingwas more than standard ODIfare - straight, honest andmixed well - would be to lie.

South Africa moved calmlyand inevitably towards the tar-get of 204 runs. A comfortableseries-opening win for proteasat the Sheikh Zayed Stadiumwith contributions from theentire top order steering themto 127 for 1 after 25 overs.

They were given the rightkind of start by Hashim Amlaand Graeme Smith. Neitherwent on to a substantial scorebut they comfortably held offan early burst of energy fromPakistan's bowlers.

Smith, his bat looking evermore like a toothpick in hishands as the years roll on, waseven beginning to locate someof the authority that hasdeserted him in a fifty-lessyear.

Pak yet to findlasting spark

NEW YORK: Soccer is oneof the world's most popularsports, enjoyed by millionsaround the globe -- andresulting in millions ofinjuries each year.

But a set of 11 low-impactexercises incorporated intowarm-ups can reduce soccerinjuries by up to 12 per centin matches and 25 per cent intraining sessions, said astudy by researchers work-ing with the FederationInternationale de FootballAssociation (FIFA) and pub-lished in The AmericanJournal of Sports Medicine."

The injury prevention pro-gram, dubbed "The 11" andnow updated to "The 11+,"is a series of exercisesfocusing on stability, bal-ance, flexibility and

strength, and designedspecifically to prevent soc-cer injuries.

During the study, carriedout in Switzerland, the pro-gram was integrated into acourse required for coaches.

A thousand coaches wereasked about injuries amongtheir players, then askedagain four years later. Theywere also asked if they wereusing "The 11" program.

Those who said 12.6 percent of their players hadbeen injured in matches overthe previous month, com-pared to 14.2 per cent ofplayers of coaches who had-n't been using the program.

"Even this small per cent-age, nationwide, has impor-tance," said Jiri Dvorak,FIFA's chief medical officer

and head of the study team.Soccer players tend to rely

disproportionately on thequadriceps and inner thighmuscles, which causes mostof the most common soccerinjuries such as sprainedankles, hamstring and groinstrains, and injuries to kneeligaments.

Dvorak noted that whenmillions play soccer, even adifference of 1 per cent has ahuge impact, adding that theprogram is now being imple-mented in Japan, elsewherein Europe and in theAmericas.

In 2003 in Switzerlandalone, more than 42,000 soc-cer injuries were reported,costing millions of dollarsand lost working days.-Reuters

“The 11” exercises toreduce soccer injuries

Australiato launchIPL-style

leagueSYDNEY: Cricket Australia(CA) approved an IPL-styleleague on Friday but concededthe eight-team event would notbe able to rival the financialgloss of the Indian Twenty20tournament.

After the board meeting inMelbourne, chief executiveofficer James Sutherland saidCA were "amenable" to privateownership in the expanded BigBash League from 2011-12 sea-son but finalising the termswould take more time.

"The Board has consideredthe position of private invest-ment into these teams and takena view that the board isamenable to that situation,"Sutherland told reporters.

"It will, over the comingmonths, consider the termsunder which that private invest-ment may take place but theBoard is certainly open to that."

Local media reports claimedIndian companies were eyeingminority stakes in some of theteams, while Sutherland saidthe new league would not viewith the glitzy $4 billion IPL.

"I don't think we see our-selves as a competitor to theIPL (in terms of player earn-ings) and certainly the revenuesthat the Cricket Australia BigBash League can generate," hesaid.

"In a small market such asAustralia it's not going to be thesame as the Indian PremierLeague. But at the same time thisleague is on the internationalstage and the teams that play-offin the finals will qualify for theChampions League."-Reuters

Wozniacki of Denmark reacts to her win over Schiavone of Italy during theirWTA Tour Championships tennis match in Doha

KARACHI: Group photo of finalists of Majeed KhanMemorial Table Tennis tournament 2010 along with ChiefGuest Deputy General Manager Management PSO BabarHashmi, Farhan Essa, Tabish khursheed, Ghalil Mohsin,

Abeera Ali and others.-Staff Photo

ABU DHABI: South Africa's Jean Duminy throws the ball during their firstone-day international cricket match against Pakistan.-Reuters

China, alikely cricket

surprise:Miandad

NEW DELHI: JavedMiandad, once India's chieftormentor and later several-times coach of Pakistan, thinksthe next big thing in worldcricket could be China. He isseconded by former Indiawomen's team player MamathaMaben, who thinks Chinacould be challenging "top-rungteams" in about five years'time.

Miandad is China's Lahore-based 'Ambassador of Cricket'- directing the Chinese team'spreparations for their debutinternational appearance at theGuangzhou Asian Games thatbegin on November 12.

These days, he is constantlyon the phone, giving tips to for-mer Pakistan fast bowlerRashid Khan, formerBangladesh batsman AminulIslam, and Maben - coacheswho are now working with theChinese men's and women'steams in Guangdong, 160 kmfrom Guangzhou. -Online

Maradonaeyes EPLcoaching

Monitoring Desk

KARACHI: Argentina foot-ball legend Diego Maradonahas revealed his desire to man-age in the English PremierLeague (EPL).

Maradona is seeking a newchallenge after parting compa-ny with the Argentina nationalside which he led to the quarter-finals of the 2010 World Cup.

The former World Cup-win-ning captain, who will cele-brate his 50th birthday onSaturday, is now seeking areturn to management, andadmitted he was attracted byEngland's top flight.

He told Sky Sports News:"Yes, I would like to managein the Premier League. "It hasvery good teams, an excep-tional level and great players.

"The only problem is all theteams I like in England havegood coaches. "If any impor-tant job comes along I willaccept it."

Maradona has been linkedwith a number of posts inrecent months, including theAston Villa job, but insists hewas never in the running toaccept a role.

"I want to make it clear that Ididn't offer myself for any job,nor did anyone offer me any-thing," he said.-APP

Tsotsobe walks away with 4 wickets

11Saturday, October 30, 2010

International & ContinuationUK consumer

moraleunexpectedly

improvesin Oct

LONDON: British consumerconfidence unexpectedlyimproved in October as peoplegrew less nervous about theirown finances despite a gloomyeconomic outlook, a surveyshowed on Friday.

The GfK/NOP consumer con-fidence barometer rose to -19 inOctober from -20 in September,confounding analysts' expecta-tions for a further deteriorationto -22.

Anticipation of painful gov-ernment spending cuts anduncertainty over the economicrecovery has weighed on con-sumers' mood for much of thisyear, and October's rise was onlythe second since February.

However, the compilers of thesurvey urged caution. Theresponses were collected in thefirst half of the month, before thegovernment detailed spendingcuts to welfare and governmentservices in its Oct. 20Comprehensive SpendingReview.

"Confidence has remained rea-sonably consistent since June butthis could change as the publiccomprehends the full impact ofthe government's cuts," saidNick Moon of GfK NOP SocialResearch.

The survey showed Britons'perception of their personalfinancial situation over the com-ing year rose 3 points to -2, whiletheir perceptions of the econom-ic outlook fell one point to -20.

Figures earlier this weekshowed Britain's economy grew arobust 0.8 per cent in the thirdquarter of this year -- twice as fastas analysts had expected. Butgrowth is expected to slowsharply going into 2011, when arise in value-added tax and cuts topublic spending cuts will kick in.

"As with this week's economicgrowth figures, the small rise onconsumer confidence forOctober is really only a preludeto what happens next," saidMoon.-Reuters

CONTINUATION

BERLIN: German retail salesposted their biggest monthlydrop in 2-1/2 years inSeptember, clashing withrecent figures that had painteda rosier picture of consumerdemand in Europe's largesteconomy.

Sales fell by 2.3 per cent inreal terms, preliminary figuresfrom the Statistics Officeshowed on Friday -- a secondmonthly drop that clouded alonger view showing salesrose 1.1 per cent in the year todate compared with the sameperiod in 2009.

"This is a very weak result. Itdampens the expectations thatprivate consumption is takingoff like a rocket," said RalphSolveen from Commerzbank."However, one should not for-get that retail sales data oftenfluctuate heavily and arerevised frequently."

Revisions were indeed thecase for the August figures,which were pared down to a0.4 per cent monthly fall froman initial 0.2 per cent.

The data was at variance withrecent upbeat indicators thathave buttressed hopesGermany's stronger thanexpected rebound from reces-sion will persist despite theuncertain impact of a fragileglobal outlook on its tradition-ally dominant export industries.

A survey by market researchgroup GfK on Tuesdayshowed consumer moraleremains at its highest levelsince May 2008 going intoNovember on expectations ofa continuing recovery, bolster-ing hopes that improveddomestic demand will take upmuch of the slack if exportgrowth runs out of steam.-Reuters

German retail salesdip, take edge off

growth story

OTTAWA: Canada's econom-ic recovery picked up speedagain in August after stallingin July, but third-quartergrowth is still on track to bethe weakest since the reboundbegan, according to figuresreleased on Friday.

Statistics Canada said grossdomestic product climbed 0.3per cent in August, bolstered bywholesale trade, manufacturingand oil and gas extraction. GDPshrank 0.1 per cent in July, thefirst contraction in a year.

The August figure matchedthe forecasts from a Reuterspoll, and supported marketexpectations that the Bank ofCanada will keep its key inter-est rate on hold through early2011 after three successive

hikes earlier this year. Canadian Finance Minister

Jim Flaherty welcomed theAugust comeback, but said UShousing woes remain a threat,and economists also blamed aweak US economy for theslowdown.

"At the end of the day, theCanadian economy just can'tfight the gravitational pull ofsluggish US activity. End ofstory," said Doug Porter,deputy chief economist atBMO Capital Markets.

Canada ships three-quartersof its exports to the UnitedStates and its autos and timberindustries are particularly vul-nerable to swings in demandfrom the next-door giant.-Reuters

Growth resumesin Canada but US

woes threaten

WASHINGTON: US econom-ic growth edged up as expectedin the third quarter but notenough to chip away at highunemployment or change per-ceptions of more monetary eas-ing from the Federal Reservenext week.

Gross domestic productexpanded at a 2.0 per cent annu-al rate as consumer spendingrose at its fastest pace since2006, the CommerceDepartment said on Friday.

While consumer spendingquickened and business invest-ment continued to expand,much of the rise in demand wasmet by overseas production anddomestic goods continued topile up in warehouses, suggest-ing tepid growth in the fourthquarter.

"The economy is recovering,but recovering at an anemicpace, and this certainly willhelp the Fed in its deliberationson Tuesday," said HughJohnson, chief investment offi-cer at Hugh Johnson Advisorsin Albany, New York.

The US economy brakedabruptly in the second quarter,when growth slowed to a 1.7per cent rate, and third-quartergrowth matched economists'expectations.

Details of the report, whichshowed core inflation runningat its second-lowest level since1962, reinforced financial mar-ket expectations the Fed willannounce a second round ofbond purchases at its Nov. 2-3meeting to push interest ratesdown further to energize therecovery and ward off defla-tionary pressures.

Analysts expect the Fed toannounce a fresh round of bondpurchases of about $100 billiona month when its meeting con-cludes on Wednesday.

US stocks opened lower,while bond prices rose on thepremise of more "quantitative

easing" from the Fed. The dol-lar extended losses against theyen on the prospect the Fed willneed to print more money.

The economy is experiencinga slow recovery by historicalstandards, with unemploymentat 9.6 per cent and Americansincreasingly nervous about thefuture.

That is expected to shift thecountry's political landscape inTuesday's congressional elec-tions, seen as a vote onPresident Barack Obama's per-formance on the economy. HisDemocratic party is expected tosuffer big losses.

Economists say a growth paceof at least 3.5 per cent, drivenby solid domestic demand andexports, over several quarters isneeded to bring down highunemployment.

A pick-up in consumer spend-ing gave the economy a lift inthe third quarter. Consumerspending, which accounts for70 per cent of US economicactivity, increased at a 2.6 percent rate after rising 2.2 per centin the prior period.

The third-quarter increasewas the largest since the fourthquarter of 2006 and added 1.79per centage points to GDPgrowth.

A separate report showedconsumer sentiment weakeneda touch in October, dropping toits lowest level in nearly a yearand suggesting consumerspending could soften.

Output in the third quarterwas also supported by a $115.5billion increase in businessinventories after a $68.8 billionrise in the second quarter.Inventories added 1.44 per cen-tage points to growth.

Excluding inventories, theeconomy expanded at a 0.6 percent pace, slowing from 0.9 percent in the second quarter.

The build up in inventoriessuggests slower production

ahead, although a report onmanufacturing activity in theUS Midwest region showedproduction rising.

The GDP report showed busi-ness spending continued togrow in the July-Septemberquarter, but the pace slowedfrom the prior period, withnotable moderation in invest-ment in equipment and softwareafter three quarters of robustgrowth.

Spending on equipment andsoftware slowed to a 12.0 percent rate in the third quarter aftera vigorous 24.8 per cent rate inthe prior period. However,investment in structures grewfor the first time since the sec-ond quarter of 2008.

Growth was also held back asimports continued to outpaceexports. But the trade deficitnarrowed somewhat during thequarter, subtracting 2.01 percentage points from GDPgrowth compared to 3.5 percentage points in the secondquarter.

Residential construction wasalso a drag on growth in thethird quarter, reflecting the endof a tax credit for home buyers.Government spending made amodest contribution to growthas investment by state and localgovernments dropped in thethird quarter after rising in theprior period.

The GDP report showed theFed's preferred inflation meas-ure, the personal consumptionexpenditures price index,excluding food and energy, roseat an annual rate of 0.8 per centin the third quarter.

That was the smallestincrease since the fourth quarterof 2008 and the second-lowestreading since the fourth quarterof 1962. Fed officials have sig-naled concern that low inflationcould ultimately turn into a per-nicious deflation if the recoverydoes not strengthen.-Reuters

US GDP growthtepid in Q3, moreFed easing seen

basic services to people.He said this while talking to media after addressing 5th session

of private sector task force at Planning Commission of Pakistan.Finance Minister added that waderas, feudal class, and major

business enterprises would have to pay taxes otherwise countrywould have to rely on more aid or loans.

Continued from page 1No #1

Ghias Piracha cautioned that masses lacked the power to pur-chase expensive fuel, and millions of CNG vehicles were stand-ing idle due to strike.-Online

Continued from page 1No #2

process of registering cotton exports early this month afterreceiving applications equal to the stipulated exportable surplus of5.5 million cotton bales. Most local dealers believe Indianexporters used suspension of registration as an "excuse" to escapetheir contracts because of rising international cotton prices inrecent weeks. US cotton prices have risen nearly 80 per cent sincethe start of the rally in July to an all-time record of $1.305 per lbthis week. Rising US cotton prices and uncertainty about theIndian contracts have sent cotton prices soaring in the domesticmarket as well in recent weeks. Domestic cotton was being trad-ed up to 8,500 rupees ($99.60) per maund (37.32 kg) on Friday,according to Naseem Usman, chairman of the Karachi-basedCotton Brokers Forum. Government in April hoped 14 millionbales of cotton in the 2010/11 season, compared with about 12.7million bales the previous year, when the country had to importabout 2 million bales of 170-kg each.

Because of August floods, government and industry officialsnow estimate output of about 11.6 million bales, meaning moreimports from various sources, including India.India has delayedexports by one month until Nov. 1 after late rains delayed the har-vesting process, but Siddik said he did not expect much coming outof that into Pakistan now.India's Farm Minister Sharad Pawar toldthe annual Economic Editors' Conference on Wednesday that Indiawould review its policy on cotton exports in December.-Reuters

Continued from page 1No #3

Euro zoneinflation

up in Oct,seen under

controlBRUSSELS: Euro zone con-sumer prices rose more thanexpected in October, an estimateshowed on Friday, but remainedat the European Central Bank'sprice stability target and infla-tionary pressures remainedmuted, economists said.

The European Union's statis-tics office Eurostat said con-sumer prices in the 16 countriesusing the euro rose 1.9 per centin October year-on-year, against1.8 per cent in September.

Economists polled by Reutershad expected annual pricegrowth to remain unchanged at1.8 per cent. The ECB wants tokeep inflation below, but closeto, 2 per cent over the mediumterm.

"Inflation has acceleratedsharply from levels of around 1per cent at the start of the year,but this is entirely due to risingfood and energy price inflation,"said Nick Kounis, head ofmacroeconomic research atABN Amro.

"Core inflation has been stableat around 1 per cent. Althoughwe do not have a breakdown ofthe October data, we think thatsimilar trends have remained inplace, with underlying inflation-ary pressures remaining sub-dued," he said.

He also said that given theslack in the economy, slowingwage growth and the rise in thevalue of the euro, inflation wasunlikely to be a danger for sometime.

Separately, Eurostat said eurozone unemployment rose to 10.1per cent in September from adownward-revised 10 per cent inAugust, despite a fall in the num-ber of jobless in the euro zone'sbiggest economy Germany.

Eurostat said the number ofpeople without a job rose by67,000 in September againstAugust, to 15.9 million peopleand by 71,000 people to 23.1million in the whole EuropeanUnion of 27 countries.-Reuters

connection with combined PML."First, he (Musharraf) should become a Muslim leaguer, and

then the council (steering committee) may decide about his induc-tion into combined Muslim League", Pagara said in his tradition-al lighter mood. To a question, Pagara said that his party wouldremain a coalition partner in Sindh and center despite formationof a combined PML. "We have nothing to do with game number.Our mission is to unite all the Muslim leagues, and we would goahead with that. If any one wants to join us, he is welcome, and ifnot, we have nothing to do with him", he maintained.

"I feel very happy that those Muslim leaguers, who had beendispersed due to different reasons, are getting united", he said.

To a question, Pagara said that President Asif Zardari wouldremain in office until Allah is merciful to him.

Continued from page 12No #4

to the President Farhatullah Babar said that the Presidentduring the meeting advised the government to undertake eco-nomic policy initiatives saying that our vision was to makePakistan the hub of regional economic activities.

This, he said, was possible through more opening towardsChina through new strategic communication network, creat-ing special economic zones in which the manufacturers beoffered special incentives of access to regional market, cap-tive power and maximum facilitation in their pursuits.

The President said the geo-strategic location of Pakistanmakes it an ideal location to be an economic hub for the

Continued from page 12No #5

could take up to six months to dry out. The United Nationsjoined forces in urging donors to come forward, particularlyfor victims in the south, part of the country's breadbasket.Spokeswoman Stacey Winston said the United Nations and itspartner agencies were doing everything possible to help thevictims but warned: "It is simply not enough. We need tohave more money."

"The emergency still continues in Sindh and people are sur-rounded by water," Winston said, adding that malnutrition,food security, health conditions and shelter are major con-cerns. She said many areas in Sindh were surrounded bywater, which she warned may not go down for another threemonths. "It is a very major concern to us." The UN Food andAgriculture Organisation said this week it had begun distri-bution of wheat seed to half a million farming families affect-ed by the floods in order to allow the current planting seasonto take place.-Agencies

Continued from page 12No #6

Chinese government would provide RMB 86.5 million loanfor the ground control segment. Speaking on the occasion,Ambassador Masood Khan said the agreement has furtherpromoted Pakistan-China cooperation in the field of scienceand technology and the satellite would become a symbol ofPakistan-China friendship. Pakistan and China share a longhistory of space technology cooperation. Pakistan's first loworbit satellite, Badr-1 was launched by China in 1990. Thetwo countries have continued to enhance their cooperation inpeaceful applications of space technology under an agree-ment signed in 1991.-NNI

Continued from page 12No #7

"requests" from Pakistan demanding an end to droneattacks, however, his body language and talk suggested thatthe US has no plans to stop drone attacks. Contrary to USenvoy's contention, various US think tanks have recentlyadmitted that only a few al Qaeda and Taliban leaders have sofar been killed in drone attacks as against over 1200 civil-ians.Munter observed that the terminology of "do more" isnothing but a mere misunderstanding. "Do more" meansPakistan and United States would continue to act and cooper-ate against terrorists, he said.

He said that destabilisation in neighboring Afghanistanwould continue to affect Pakistan. The United States wantedstabilisation in both Afghanistan and Pakistan, he added.

Rejecting a common notion about increasing anti-US senti-ments among Pakistan, particularly because of drone attacks,the US envoy said, "I don't think that Pakistanis do not likeAmericans. We (Americans) have to think and understandwhatPakistanis actually demand of us."

Continued from page 12No #8

region and we must take maximum advantage of our locationnot only for our own economic development but also for max-imising trade in the region. He said that we need to focus oninfrastructure development through encouraging the privateentrepreneur to participate actively in such projects for whichthe finances could be raised though stock exchanges.

The President said that Pakistan was keen to upgrade rail-way line between Pakistan and Turkey for the speedy move-ment of cargo keeping in view its immense potential andfuture prospects. He said that he had been pursuing with theTurkish leadership the need for upgrading the existing rail-way line. The President said that he had proposed that thefinances for the project could be raised through stockexchanges in three countries of Japan, Pakistan and Turkey.-NNI

Pakistan-US friendship was based on the principles of mutual respect and honour, Muntersaid adding that both Pakistanis and Americans wanted to progress rapidly.

To a question Munter said his country wanted to assist Pakistan, not only in trade, but inother sectors as well.

He admitted that European Union (EU) had surpassed America vis-à-vis trade incentives forPakistan. He said the United States would continue to help the flood victims, and an interna-tional donors conference in this regard would be held in the middle of November. The USambassador thanked the people of Pakistan for according him a rousing welcome.-Reuters

scheduled to come in September however due to floods their arrival delayed. Senior officials ofPakistan Air force would be present at Shahbaz Airbase on the arrival of these planes.-Online

Continued from page 12No #13

whereas the cost of sales also climbed by 11.2 per cent to Rs17.54 billion. Still, gross prof-it increased by 10.8 per cent to Rs 841 million against Rs 759 million posted for same peri-od last year.

ATRL announced profit after tax of Rs583 million (EPS: Rs 6.84) versus loss after tax ofRs396 million (LPS: Rs 4.65) 1QFY10. However, net sales revenue for the period surged by30 per cent to Rs25.04 billion from Rs19.25 billion. ATRL also posted gross profit of Rs 877million against gross loss of Rs 523 million for the same period last year.

Continued from page 5No #9

elections and the Federal Reserve policy meeting next week. On the week, the index shed1.8 per cent as investors took profits from its strong run-up since late August.

SHANGHAI POSTS BEST MONTHChina's key stock index was weighed down by a selloff in brokerages such as Huatai

Securities which succumbed to profit-taking after recent gains. The Shanghai CompositeIndex closed at 2,978.8, after slipping 0.2 per cent on Thursday. Though little changed on theweek, the index has surged 12 per cent this month, its biggest monthly gain since July 2009.

On a rolling 30-day basis, returns on the Shanghai Composite have this week outstrippedthe benchmark MSCI Asia Pacific ex-Japan index by the most since November 2009, accord-ing to Thomson Reuters data.Analysts said uncertainty over the scale of an expected newround of quantitative easing by the Federal Reserve and the direction of the US dollar havebecome a key focus for the Shanghai market, pushing the benchmark below the psychologi-cal 3,000 mark this week.

"This month the index has accumulated large gains so profit taking is very normal," saidZhang Qi, analyst at Haitong Securities in Shanghai.

Analysts cited China's robust economic growth and solid third-quarter earnings as positivedrivers for the stock market in coming weeks, but cautioned liquidity was key.

"In the medium term if more funds flow into the market, I am confident we can have a grad-ual good upward turn, but before this happens consolidation needs to take place," said Zhang.Reuters

Continued from page 5No #10

of declines in more than a year, adding to signs the economy is losing momentum as slow-ing export growth and a strong yen bite. Hurt by worries about the strength of the yen and itsimpact on corporate earnings, the Nikkei shed 1.8 per cent in October, its biggest monthly fallsince August. It fell 2.4 per cent on the week, also its worst weekly fall in two months.

So far this year, the Nikkei has lost nearly 13 per cent, while the Dow Jones industrial aver-age has gained 6.6 per cent and Britain's FTSE 100 is up about 5 per cent.

In Asia trade, the yen advanced 0.5 per cent to 80.64 to the dollar, coming closer to a 15-year high of 80.41 yen reached earlier in the week and a postwar historic high of 79.75 yenmarked in April 1995. Technical sentiment towards the Nikkei faltered as it dropped belowthe closely watched support of 9,300 for the first time since September 15, traders said, a daywhen share prices rose sharply after Japanese authorities intervened in the currency marketfor the first time in six years.

Analysts said the Nikkei could now test 9,000, which was last broken on September 8, andthen around 8,800, the index's low for the year. "The Nikkei broke below the key supportlevel of around 9,300, partly due to heavy sales of futures at the open, and technically moredownward pressure now looks to be in store," said Yumi Nishimura, deputy general managerat Daiwa Securities Capital Markets. Reuters

Continued from page 5No #11

Market breadth was negative as declining shares outnumbered advancing ones in a ratio of 2.5:1on a moderate volume of 434 million shares. The 50-share NSE index firmed 0.5 per cent to6,017.70 points. Reuters

Continued from page 5No #12

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KARACHI: Veteran Muslim League Leader Pir Pagara speaks during a meeting of Muslim League Allianceat Kingri House. Hamid Chattha, Zafarullah Jamali, Khurshid Kasuri, Ijaz-ul-Haq,

Sheikh Rashid Ahmad and others are also seen sitting on the stage. -Online

ISLAMABAD: Oxfam, the interna-tional aid agency, Friday warnedPakistan that flood crisis funds weredrying up and a lot is yet to be done.

Earlier United Nations had issued arecord $2 billion appeal for funds tocope with the worst humanitariandisaster Pakistan has ever facedwhich devastated an nearly as big asEngland and affected 21 million peo-ple.

The World Bank and AsianDevelopment Bank have estimatedthe damages at 9.7 billion dollars --almost twice those of 2005 earth-quake which killed more than 73,000people. "Funds for the UN flood

appeal are drying up and threateningthe aid and reconstruction effort,"Oxfam said in a statement markingthe third month since heavy mon-soon rains began falling in north-western parts of the country.

"The crisis is far from over," saidOxfam's director in Pakistan, NevaKhan.

The United Nations issued thefunding appeal on September 17 inNew York. Officials say around 35per cent of the appeal has been fund-ed. "Cases of disease are increasingand large areas remain under water insouthern Sindh province," saidOxfam. "As winter approaches,

seven million people are still withoutadequate shelter."

UN officials say 10 million peopleare in need of immediate food assis-tance and health authorities havereported 99 confirmed cases ofcholera.

"The funding shortfall is so seriousthat existing regular food rations to3.5 million people could be in jeop-ardy," Oxfam said.

Tens of thousands of families, whohad sheltered in schools and otherbuildings, are being newly displacedas schools reopen. Officials warnthat some of the worst-affected areas

See # 6 Page 11

Pakistan warned offlood funds’ crunch

Rehab, reconstruction at stake: Oxfam

KARACHI: Ignoring the growingchorus of criticism over the droneattacks in the northern tribal belt, thenewly appointed US ambassador toPakistan, Cameron Munter, hasclaimed that these attacks are onlymeant to target the "common enemy"of the two countries.

" Drone attacks are part of waragainst terrorism, and they are being

carried out only against commonenemy of Pakistan and the UnitedStates, Munter said while talking tonewsmen after laying a floral wreath atMazar-e-Quaid along with his wife,upon his first ever arrival in Karachi onFriday.

Though, the US ambassador did notsay anything regarding perpetual

See # 8 Page 11

New US envoy sings old‘drone-hits-are-right’ tune

Ambassador Munter visits "Mazar-e-Quaid"

China toloan for

Paksat-IRISLAMABAD: PakistanAmbassador to China, MasoodKhan signed a loan agreement,on the behalf of EconomicAffairs Division, with the EximBank of China for the Paksat-1RSatellite ground control segmentproject in Beijing on Friday.

The Paksat-1R would belaunched on August 14, 2011replacing the current communi-cation satellite Paksat 1. It is oneof the hallmarks of Pakistan-China cooperation, says a pressrelease.

A contract for the project wassigned between the Suparco andChina Great Wall Industry

Corporation in the presence ofPresident Asif Zardari in Beijingin October 2008.

The contract for the groundcontrol segment of the satellitewas signed in October 2009 dur-ing Prime Minister Yousuf RazaGilani's visit to China. AFramework Loan Agreementbetween the two governmentswas signed in June 2010.

Under the agreement, the See # 7 Page 11

Staff Reporter

KARACHI: Senior politician andspiritual leader of Hurs, Pir Pagarawas elected as president of newlyformed Muttahida Pakistan MuslimLeague, a conglomerate of four PMLsplinter groups, here on Friday.

The merger was announced at ameeting of the four PML factions atKingri House, the residence of PirSahib Pagara.

This is the second merger of differ-ent PML factions within a month.Former Prime Minister ChaudhryShujaat Hussain-led PML (Q) andPir Pagara-led PML (F) hadannounced a merger last month atKingri House Karachi, and formedAll Pakistan Muslim League, whichcould last not more than a month.

The four factions, which weremerged into combined PML, arePML (F), PML (Zia), PML (like-minded), and PML (Awami).

Political analysts are not givingmuch significance to the event as thetwo major factions, PML (N), andPML (Q), whose combined strengthin the National Assembly is 143,

refused to join the new party.The PML (F) is the only group

amongst the four factions, which hassome roots in Sindh, while theremaining three are known as single-seat groups.

Former prime minister, MirZafarullah Khan Jamali, whose polit-ical affiliation is still a million-dollarquestion as he was elected as primeminister in 2002 from the PML(Q)platform, but after his resignation heparted ways with Chaudhries, hasbeen appointed as convener of thenew party.

The advisor to chief ministerSindh, Imtiaz Shaikh has beenappointed as coordinator of the com-bined PML.

A nine-member steering commit-tee, led by Mir Zafarullah Jamali, hasalso been set up to contact otherPML groups, including PML(N), andPML(Q), in order to woo them tojoin the new party.

Other members of the committeeinclude, former federal ministers,Shaikh Rashid Ahmed, MakhdoomAhmed Mahmood, Humayun Akhtar,Jehangir Tareen, Hamid Nasir

Chatha, and Ijaz-ul-Haq.Later addressing a press confer-

ence, Pir Pagara said that the fourfactions would continue to workindependently till the legal require-ments vis-à-vis formation of a uni-fied party were completed.

But all these parties, he made itclear, would remain united at theplatform of combined PML.

To a question about the absence ofChaudhry Shujaat Hussain, who justa month ago, announced merger ofhis party into All Pakistan MuslimLeague along with PML(F), Pagarasaid he had spoken to ChaudhryShujaat on telephone, however itseemed if his " younger Chaudhry"(Chaudhry Pervaiz Ellahi) has some"memory problem". But still,Chaudhries would come back soon,he predicted.

About Nawaz Sharif, he said hehad no contact with the two-time pre-mier, however, he added, he wouldtry to bring him into the new party.

Similarly, he said, he had not con-tacted the former military dictatorGeneral (Retd) Pervez Musharraf in

See # 4 Page 11

Pagara to presidepatched-up PMLs

Muttahida Muslim League comes to being as political M&As heat up

ISLAMABAD: President Asif AliZardari has said that there is nooption left with Pakistan except toincrease its economic growth dra-matically on sustained basis.

He said this during his meetingwith the members of Task Force onPrivate Sector Development atAiwan-e-Sadr on Friday.

For this purpose, he said, innova-tive ideas were needed in communi-cation and infrastructure develop-ment which will open up Pakistan to

Central Asia, China and countries inthe region on one hand, and withTurkey and the Middle Easternregion, on the other hand.

The members of the Task Forceincluded Shahid Javed Burki, formerchief economist World Bank PervaizHasan, President Pak-JapanBusiness Forum Abdul Kader Jaffer,Chairman Nestle Pakistan LimitedYawer Ali, CEO Pakistan BusinessCouncil Kamran Y Mirza, and chiefof Daud Sons Armoury Noor-ud-Din

F Daud. Secretary General to the President

M Salman Faruqui, DeputyChairman Planning Commission DrNadeem-ul-Haq, Senator SyedaSughra Imam, federal secretaries ofPlanning Commission, Commerce,Economic Affairs Division and othersenior officials were also presentbesides Spokesperson to thePresident Farhatullah Babar.

Briefing the media, Spokesperson See # 5 Page 11

No option but steady, pacy growth: Zardari

Pak inks pact with EximBank for satellite project

Shabbir Kazmi

KARACHI: An analyst briefing byEngro Corporation Friday maintainedthat Pakistan has satisfactory urea aswell as DAP stocks in store.

During the briefing the fertiliser-maker said that due to subdueddemand there may not be any need toimport urea and in case offtake pickedup pace, only around 200,000 tonneswill have to be imported but there willbe no need to source DAP.

Explaining the highlights of9MCY10 financial results RuhailMohammad, Chief Financial OfficerEngro Corporation said, "bottom lineof the holding company has improvedmainly because all the subsidiariesposted good results. This facilitated the

payment of Rs2 per share interim divi-dend."

Engro Corporation announced itsfinancial results for 9MCY10 onThursday posting profit after tax ofRsRs4.06 billion (EPS: Rs13.41)against Rs2.65 billion (EPS: Rs8.93)registered in the corresponding periodlast year, nailing a growth of 53.2 percent.

Engro Fertiliser profit after taxamounted Rs2.87 billion, nearly 71 percent of the total profit earned by theholding company. While EngroPolymer reported loss, Engro Eximpposted profit of around Rs989 millionduring 9MCY10. Engro Energy alsocontributed to this growth by posting anet profit of Rs377 million for the peri-od under review.

DAP, urea in sufficiencyEngro Analysts Briefing

Staff Reporter

KARACHI: The State Bank ofPakistan (SBP) Friday announced theissuance of a new 3-year Governmentof Pakistan Ijara Sukuk under whichthe Federal Government plans to raiseRs80 billion in the second quarter ofcurrent 2010-2011 fiscal year (FY11).

In this regard, the State Bank hasissued details of the new GOP IjaraSukuk issuance programme includingdetails of the underlying asset and therelated documentation. Similarly, anauction calendar has also been alsoannounced by the SBP for GOP IjaraSukuk for the 2nd quarter of FY11.

Under the calendar, two auctions willbe conducted in the second quarter ofFY11 with a total auction target of

Rs80 billion. First auction will be con-ducted on November 8, 2010 and thesecond auction on December 13, 2010.Target for both the auctions is Rs 40billion each. Total value of the assetunder the present issuance programmeof GOP Ijara Sukuk is Rs191.43billion. It may be mentioned here thatthis is the second issuance after thesuccessful launch of the first-ever 3-year GOP Ijara Sukuk in September2008 under which Government ofPakistan raised Rs42.2 billion from the4 auctions conducted from September2008 to September 2009.

This is the first time an auction cal-endar has been announced for GOPIjara Sukuk along the same lines as isissued for Treasury Bills and PakistanInvestment Bonds.-Agencies

New 3-yr GOP IjaraSukuk announced

SBP issues auction calendar, targets Rs80bn

Five F-16sarrive today

ISLAMABAD: Second con-signment of five F-16 fighterjets would be arriving today(Saturday) in Pakistan.

Defence sources told Onlinethat 5 latest F-16 fighter jetsbelonging to block 52 familieswould be landing at ShahbazAirbase at Jacobabad today.

US will provide Pakistan with18 F-16 fighter jets by the end ofthis year. Out of this three havealready reached Pakistan, 5 willcome today and the remaining10 will be handed over toPakistan by the end ofDecember this year.

These fighter jets would bekept at Shahbaz Air base andspecial hangers have been con-structed for them. PAF pilotshave obtained special trainingfrom US to fly these planes.Sources told that 5 fighter jetsthat are coming today were

See # 13 Page 11