International

Efforts underway to rescue trapped Pakistanis See on Page 12

Pakistan, Kuwait eye new horizons See on Page 12

CIA-ISI standoff seen as fateful See on Page 12

*Crude Oil (brent)$/bbl 111.49

*Crude Oil (WTI)$/bbl 97.16

*Cotton $/lb 181.28

*Gold $/ozs 1,407.60

*Silver $/ozs 32.89

Malaysian Palm $ 1,155

GOLD (NCEL) PKR 38,597

KHI Cotton 40Kg PKR 12,646

Yearly(Jul, 2010 up to 24-Feb-2011)

Monthly(Feb, 2010 up to-24-Feb-2011)

Daily (24-Feb -2011)

Total Portfolio Invest (12-Feb-2011)

196.71

-4.04

-2.21

2972

-3.05

-2.89

3.15

5.92

1.01

-4.87

0.74

SCRA(U.S $ in million)

Portfolio Investment

FIPI (25-Feb-2011)

Local Companies (25-Feb-2011)

Banks / DFI (25-Feb-2011)

Mutual Funds (25-Feb-2011)

NBFC (25-Feb-2011)

Local Investors (25-Feb-2011)

Other Organization (25-Feb-2011)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (19-Feb-11)

Inflation CPI% (Jul 10-Jan 11)

Exports (Jul 10-Jan 11)

Imports (Jul 10-Jan 11)

Trade Balance (Jul 10-Jan 11)

Current A/C (Jul 10- Jan 11)

Remittances (Jul 10 - Jan 11)

Foreign Invest (Jul 10-Jan 11)

Revenue (Jul 10 Jan 11)

Foreign Debt (Dec 10)

Domestic Debt (Dec 10)

Repatriated Profit (Jul- Dec 10)

LSM Growth (Dec 10)

GDP Growth FY10EPer Capita Income FY10Population

$17.59bn

14.55%

$13.23bn

$22.55bn

$(9.32)bn

$(81)mn

$6.12bn

$1.18bn

Rs 765bn

$58.39bn

Rs 5497.4bn

$338.2mn

-1.57%

4.10%

$1,051

175.28mn

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

15.55

2.00

1.70

10.80

PKR/Shares

110.89

132.65

42.65

36.25

36.85

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)

23-Feb-2011

23-Feb-2011

23-Feb-2011

29-Nov-2010

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

25-Feb-2011

13.49%

13.69%

13.86%

14.00%

13.33%

13.60%

13.76%

14.14%

14.25%

14.18%

14.21%

14.20%

14.56%

14.77%

14.97%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 85.90 86.90

Canadian $ 86.40 86.90

Danish Krone 15.50 16.00

Euro 117.30 118.80

Hong Kong $ 10.80 11.25

Japanese Yen 1.029 1.055

Saudi Riyal 22.65 22.85

Singapore $ 66.40 67.40

Swedish Korona 13.20 13.80

Swiss Franc 89.80 90.50

U.A.E Dirham 23.18 23.40

UK Pound 137.30 138.80

US $ 85.35 85.65

Open Mkt Currency Rates

Symbols Buying Selling

TT Clean TT & OD

Australian $ 86.43 86.64

Canadian $ 86.88 87.08

Danish Krone 15.81 15.85

Euro 117.88 118.16

Hong Kong $ 10.95 10.97

Japanese Yen 1.042 1.044

Saudi Riyal 22.74 22.80

Singapore $ 66.85 67.00

Swedish Korona 13.36 13.39

Swiss Franc 92.21 92.43

U.A.E Dirham 23.22 23.28

UK Pound 137.74 138.07

US $ 85.30 85.49

Inter-Bank Currency Rates

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Punjab cabinetto be dissolved

Special Correspondent / Agencies

ISLAMABAD: MianMuhammad Nawaz Sharif hasfinally made it official thatPML-N is parting of ways withPakistan Peoples Party (PPP).

Addressing a news confer-ence here on Friday followinga meeting of PML-NParliamentary Party meeting,he said in Punjab as well thetwo parties would work sepa-rately.

He said the Chief MinisterPunjab would dissolve theprovincial cabinet to pave theway for the formation of a newone.

Giving the background ofdecision, he said there was nosatisfactory progress on evenone of the ten points of eco-nomic reforms agenda givenby the PML (N) to the govern-ment.

Sharif, however, said theywould not turn the politicalfront into a battlefront and it isopposition's right to decide itsown course.

Replying to a question hesaid his party would continueto play role as a responsibleopposition in the NationalAssembly and hoped that PPPcan play its role in the PunjabAssembly.

He said despite MaulanaFazal-ur-Rehman and MQM'sresignation from the govern-ment, his party did not desta-bilise it and gave it full oppor-tunity to work for the better-ment of the country. He saidduring the past three years thegovernment did nothing for thewelfare of the masses but taxedthem with price hike, inflation,unemployment, and electrici-

ty/gas load-shedding.To a question he said PML-N

had no role in the creation ofUnification Block in thePunjab Assembly. He said theywere hijacked by former dicta-tor (Retd) General PervezMusharraf and Chaudhrybrothers. Sharif added we willwelcome those who have leftthe party under others' pres-sure.

The PML-N chief criticisedthe government for, what hecalled, price-hike, unemploy-ment and corruption.

He demanded that formergeneral Pervez Musharraf bebrought before the National

Assembly for accountabilityfor his misdeeds.

Regarding Raymond Davis,Nawaz Sharif said that thecourts are independent and notunder pressure so let themdecide this case.

PPP loses ‘N’ in PunjabSharif confirms breakup with PPP says No progress on even one point of the given agenda

LAHORE: Courtadjourned on Friday thetrial of a CIA contractorcharged with killing twoPakistani nationals untilMarch 3, dismissing USdemands for his release.

The contractor,Raymond Davis, shotdead two men in the east-ern city of Lahore lastmonth. He said he actedin self-defense and theUnited States says he hasdiplomatic immunity andshould be repatriated.

The case has inflamedanti-American sentiment

in Pakistan and is strain-ing relations between theallies. Pakistani effortsagainst Islamist militantson its border withAfghanistan are seen ascrucial to ending the warin neighboringAfghanistan.

"He (Davis) said that heshould be given immuni-ty ... a discussion will beheld on this at the nexthearing," said AsadManzoor Butt, a lawyerfor the families of the twomen Davis killed.

See # 3 Page 11

Davis says won’tsign chargesheet

Court shrugs off US blackjacking

Hearing adjourned till March 3

ISLAMABAD: TheSupreme Court on Fridayasked the counsel for sec-retary ministry ofRailways to make a clearstance over 141 acreRailways land in Lahoreleased out during formerpresident general retiredPervez Musharraf'sregime.

A three-member benchcomprising Chief JusticeIftikhar MuhammadChaudhry, JusticeMohammad Sair Ali andJustice Ghulam Rabbanitold the counsel to givestatement whether it was

a transparent transaction.The counsel for secre-

tary railways said that theofficial had clearlydirected them to assist theCourt and produce rele-vant record and factsbefore it for reaching to ajust decision.

He said his clientwould be in predicamentas he was wearing twohats at the same time, asbeing a party to the trans-action and secondly, hewas a state functionary.

Justice MuhammadSair Ali questioned

See # 7 Page 11

Clear stance soughtover leased PR land

SC decrees all facts, figures

Stocks testrockbottomafter splitupKARACHI: Stocks tumbledby more than 3.5 per cent onFriday on foreign selling andpolitical uncertainty, dealerssaid.

"There was panic selling inthe market. Foreign investorsmainly sold because of , newsabout PML-N’s separationfrom the government, globalsell-off and rise in internation-al oil prices,” said an analyst.

The Karachi StockExchange's benchmark 100-share index was 3.59 per cent,or 405.24 points, lower at11,134.02 on turnover of104.86 million shares by 3:32p.m. (1032 GMT).

See # 1 Page 11

KARACHI: Accordingto media reports circularliability has risen to lethallevels to the peril of ouralready battered econo-my.

Pakistan State Oil(PSO) has to recover atotal of Rs160 billion,whereas the deadline forpayment of Rs135 billion(out of total) is over.

According to statisticsprovided by PSO, this

amount of Rs135 billionneeds prompt repayment.

Data also showed that,Wapda owes Rs40 billion(and Rs30 million),Hubco owes Rs65 billionand (Rs35 million),Kapco owes Rs28 billion(and Rs34 million) whilePIA owes Rs1 billion(and Rs17 million) whichhave crossed their pay-ment deadline.

See # 5 Page 11

Circular liabilitynear lethal levels

US manin policehands for

illegal stayPESHAWAR: Law enforce-ment agencies have arrestedan American national,Arriendy Hauaan, for stayingin Pakistan with invalid doc-uments and shifted him tounknown place for investiga-tion.

As per details, the passportof the American national hadexpired in 2010, but he wasliving in Peshawar for lastsix months.

The law enforcement agen-cies arrested ArriendyHauaan from University roadPeshawar for his illegal doc-uments.-Online

PM saysPakistanhas key todeadlocks

ISLAMABAD: PrimeMinister (PM) Syed YousufRaza Gilani has saidPakistan is not a problem butit holds key to problems.

Prime Minister said thiswhile addressing NationalAssembly during a debate onlaw and order Friday.

He announced that nocompromise would be madeon law and order and econo-my. Terrorism and extrem-ism were the major issues ofthe country and if not con-trolled our economy wouldnot improve, he held.Eradication of terrorism andextremism was our top prior-ity, he maintained.

"We will have to worktogether to eliminate terror-ism", he said.

Pakistan wanted to seeAfghanistan stable so that 3million Afghan refugeesresiding in Pakistan couldreturn to their homeland hon-ourably, he underlined. Natoforces have not suffered asmuch loss as Pakistan has atthe hands of terrorists andextremists, he remarked.

"I assure the House thatgovernment will take all

See # 4 Page 11

PPP asks nation, media to judge on it

We manifestoed‘N’ agenda: PPP

ISLAMABAD: Pakistan People's Party stalwart Senator RazaRabbani hit back at the PML-N after they decided to expel PPPministers from the Punjab cabinet and said that the 10-pointagenda put forth by the League was part of PPP's manifesto.

While talking to the media here on Friday, Rabbani stressedthat national harmony was the need of the hour, adding that PPPwould continue with the policy of reconciliation.

The Senator said the national agenda would be carried for-ward and the ruling party would take all stake holders on boardin all matters of national interest.

He said that the recent amendments in the Constitution andthe NFC award were enacted through a national consensus.

Rabbani added that nation and media could judge on PPP'ssincere seriousness regarding the implementation of PML-N'sagenda.

"I don't want to boast, I leave it to you and each poor individ-ual of this country and appoint you as judge to decide how muchprogress we (PPP) made on these 10 points in a limited timeframe," Rabbani said.

"Ten-point agenda is our agenda. It is our manifesto and wewill continue its implementation. There should not be any ambi-guity on this count", Rabbani said.

He expressed disappointment over the rhetoric that PPP didn'tmake even 30 per cent progress on it.

Recounting the achievements of PPP from the day one afterassuming power, the minister said the coalition government hadsuccessfully accomplished challenging tasks including 18th and

See # 2 Page 11

Karachi, Saturday, February 26, 2011, Rabi-ul-Awwal 22, Price Rs12 Pages 12

‘N’ violated CoDclearly: Firdous

2 Saturday, February 26, 2011

KARACHI: M/s Faisal AliMousa (FAM) Holding ofUAE is keen to purchaserice and building materialincluding cement, marbleand granite, tiles and sani-tary-ware in large quantityfrom Pakistan.

This was stated byChairman FAM Holding,Dr Faisal Ali Mousa, a con-glomerate in United ArabEmirates while addressing apress conference along withhis representative inPakistan Asad Sajjad here.

He said that his construc-tion company, an arm ofFAM Holding, immediatelyneeds cement in large quan-tity besides tile, marble andgranite, wood and woodmaterial and sanitary-warefor construction activities in

the Middle East and Gulfregion.

"We imported merchan-dises worth dirhams 3.5 bil-lion ($1 billion) during lastyear. We are currentlyengaged in several construc-tion activities includingexpansion of Doha Airport,a five-star hotel in Karbala,Iraq and other big projectsin the region. Our companyhas recently completed theconstruction of metro railservice in Dubai," he added.

Dr. Mousa, a PhD in busi-ness management fromOxford College, said

that his trading companyalso wanted to import ricefrom Pakistan. We

have a target to importrice worth $200 million thisyear and we would like to

buy this staple food fromPakistan.

However, he said that hiscompany would need atleast two to three large ded-icated rice mills to meet thisorder. We are currentlyimporting rice from Indiaand now we want to buyrice from Pakistan, henoted.

He said the purpose of hisvisit was to explore possi-bilities of importing rice andconstruction materials fromPakistan and holding meet-ings with prospective sup-pliers of rice, constructionmaterials, besides meetingofficials.

The second purpose is toinvite leading Pakistani riceexporters to attend RICEexhibition 2011.-APP

UAE group keento buy rice, cement

Shabbir Kazmi

KARACHI: Naseba'sWomen in LeadershipForum Asia was held underthe patronage of Y.A. BhgDatin Paduka Seri RosmahMansor, Wife of the PrimeMinister of Malaysia, witha wide participation ofhigh-level attendees in theregion, say reports reach-ing here from KualaLumpur.

The two-day interactionincluded panel discussions,round-tables as well asawards celebrating bothpersonal and organisationalachievements in advancingwomen's leadership.

The initiative was firststarted in 2009, in Dubai;today it is a global platformwhich seeks to providementorship by uniting anacclaimed line-up of lead-ing women from across theregion to discuss currentchallenges and leadershipissues, whilst celebratingtheir emerging role intoday's competitive society.

"With every platform weorganise, any partnershipwe gain or governmentsthat we work with, welearn, adapt and improve.From a one-off forumorganised in Dubai, theWomen in Leadershipseries transformed itselfinto a global initiative. Thesteps ahead see us fine-tun-ing the concept into aninteractive business plat-form with participationfrom both genders and theultimate goal of forming aglobal informal networkfor business dealing andknowledge sharing. Wewill continue extending ourapproach of a global per-spective translated region-ally, a strategy which willassure we accommodate allperspectives and transformthe WIL series into theprime global network forbusinesswomen around theworld," declared Sophie LeRay, CEO of Naseba andinitiator of the WIL seriesat the end of the Women inLeadership Forum Asia.

Women inLeadershipForum Asiainaugurated

ISLAMABAD: FederalInterior Minister RehmanMalik on Friday again madeit clear that government istaking gigantic efforts toeliminate corruption fromthe country urging concert-ed efforts are required totackle the menace tooth andnail.

Talking to journalists,Federal Interior MinisterRehman Malik said that atthe moment we are far betterthan in the year 2008 if wecompare corruption Headded that healthy criticismis every one's right and gov-ernment is taking far sighted

efforts to control law andorder situation.

Rehman Malik went on tosay that Qadir Gilani, son ofPrime Minister presentedhimself before the FIAhence it was a very enrich-ing sign.

He said restoration ofpeace in the country anderadication of terrorism,fundamentalism and mili-tancy is their top priorityand to achieve this goal theyare out with heads on theirpalm adding that whosoeverhe may be, will be wel-comed who supplementsour efforts for peace.-Online

Malik vowsto eliminatecorruption

ISLAMABAD: PrimeMinister Syed Yusuf RazaGilani said that the peopleof Khyber Pakhtoonkhwa(KP) and FATA have ren-dered great sacrifices in thewar against terrorism.

They rightfully deservefocused attention, he added,to see socio-economic devel-opment in the region, leadingto economic opportunities.

The socio-economicchange, he said, could curbthe extremist tendenciesand bring the people intothe mainstream of nationalaffairs.

The Prime Minister wastalking to the new Governorof Khyber PakhtoonkhwaBarrister Masood Kausarwho called on him at thePrime Minister's House

here on Friday.The Prime Minister while

congratulating theGovernor on assuming hisresponsibilities, asked himto closely monitor thedevelopment works inFATA and flood affectedareas to ensure quality andtimely completion of thereconstruction and develop-ment projects.

He also asked him toensure that the IDPs of mil-itancy affected areas ofFATA particularlyWaziristan were properlylooked after and facilitatedin rehabilitation.

The Prime Ministerinformed the Governor thathe would be visitingKhyber Pakhtoonkhwa atsome appropriate time in

the near future to see forhimself the progress on var-ious mega projects of theprovince as well as devel-opment efforts in the FATAregion.

He further mentionedthat an amount of Rs. 06billion has already beengiven for the developmentwork of FATA whichincludes gas supply, electri-fication and otherschemes/projects of FATAMNAs and Senators.

He asked the governorthat elected representativesof different areas includingFATA should be taken onboard while formulating thedevelopment plans as wellas at the implementationstage.

The Prime Minister con-

gratulated the newly electedoffice bearers of theNowshera Bar Associationand mentioned that hewould be meeting thelawyers' community of theprovince during his expect-ed visit to KhyberPakhtoonkhwa.

The Governor of KhyberPakhtoonkhwa thanked thePrime Minister for reposingconfidence in him to serveas the Governor of KhyberPakhtoonkhwa and assuredto work whole heatedly forthe welfare of the people ofthe province. He mentionedthat he would be lookingforward to guidance fromthe Prime Minister as wellas support from the FederalGovernment in discharginghis responsibilities.-NNI

War against terror

PM appreciates sacrificesof FATA, KP people

I S L A M A B A D :Increasing foreign debtand debt servicing areadding more problems toour ailing economy whichwas suffering with thelowest growth rate in theregion.

Increasing level of exter-nal debts was not good forour country and for ourfuture generationsMahfooz Elahi, PresidentIslamabad Chamber ofCommerce and Industry(ICCI) said while address-ing the business communi-ty at ICCI.

He was reacting to thereports that Pakistan is

paying about $3 billion ondebt servicing annually. AsPakistan's present foreigndebt of $54 billion contin-ues to increase, debt serv-icing will increase by thesame ratio. The ICCIPresident said that externaldebt was a heavy burdenon the country and in2009, the country owed$50 billion and the govern-ment consumed a third ofits budget revenues tohonor only interest pay-ments of the country,where 60% of people livebelow the poverty line.

Elahi further said thateconomic situation was

getting worse as Pakistan'stotal debt-to-GDP ratio hascrossed 61 percent thisongoing fiscal year,breaching the 60 percentlimit set under the FiscalResponsibility and DebtLimitation Act.

He suggested thatPakistan can create a safeexit of debt trap byincreasing her indigenousresources, for which thereexist huge potential inshape of its human capital,unexploited mineraldeposits, hydel powerresources, and huge agri-cultural and industrialpotentials.-INP

ICCI for exploitingindigenous resources

TV PROGRAMMES

SATURDAY

Time Programmes7:00 News8:00 News9:05 Best of Subah

Savere Maya Kay Sath

11:10 Tafteesh (Rpt)12:00 News13:10 Newsbeat (Rpt)14:10 Awam Ki Awaz

(Rpt)15:00 News16:10 Faisla Aap Ka (Rpt)17:30 Samaa Metro18:00 News18:30 Aap Ki Baat19:00 News19:05 Mutasareen19:30 Taxi News20:05 Tafteesh21:00 News22:03 Faisla Aap Ka23:00 News23:03 Awam Ki Awaz

(Rpt)

SATURDAY

Time Programmes

8:00 Chai Time (Rpt)

9:00 News

9:15 Pehla Sauda

10:00 News

10:15 Bazaar

11:00 News

11:05 Ghar Ka Kharch

12:00 News

12:15 Power Lunch

13:00 News

13:05 Islamabad Say (Rpt)

14:00 News

15:02 Akhri Sauda

15:30 Mang Raha Hay

Pakistan (Rpt)

16:15 Karobari Dunya

17:05 Ghar Ka Kharch

(Rpt)

18:05 Chai Time

19:00 News

19:30 Mang Raha Hai

Pakistan

20:00 News

20:05 Islamabad Say

21:00 Pakistan Aaj Raat

22:00 News

22:05 Doosra Pehlu

23:00 News

23:05 Siyasat Mana Hai

0:00 News

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani snapped at a lunch hosted by Dy Speaker NationalAssembly in honour of Barrister Masood Kausar, Governor ,Khyber Pakhtunkhwa at PM House-APP

KARACHI: Police personnel dispersing the demonstrators of Lower StaffAssociation for Education who came from all over Sindh and were trying to

go towards Sindh Assembly during thier protest demonstration in support ofthier demands.-Online

KARACHI: Chief Minister Sindh Syed Qaim Ali Shah addressing apress conference at CM House.-Online

SAARCcountriesurged toenhance

trade I S L A M A B A D :

Bangladesh HighCommissioner to PakistanSuhrab Hossain has saidthat SAARC countriesneed to enhance trade byeliminating barriers toeradicate poverty and pushcommon interests.

He said that Pakistan canachieve its export target of$24.86 billion for the nextfiscal year by focusing onregional markets.

Talking to a delegation ledby Chairman FPCCI, CapitalOffice Hameed AkhtarChadda, ChairmanCoordination Raza Khan,Chairman Media and PRMalik Sohail, SVC onDiplomatic RelationsKanwar Qutbuddin andPresident Women's ChamberSamina Fazil, he said thatenhanced interactionbetween officials and well asbusinessmen of the twocountries will benefit both.

Pakistan can supply engi-neering goods to regionalcountries including sugarand cement plants, industri-al equipment, ships, auto-mobiles, small aircrafts,machine tools, domesticappliances, and defenceequipment, which is secondto none, he said.

"Pakistan needs toimprove law and order situ-ation and do a little morefor consistency in policieswith stress on implementa-tion to grow as this brother-ly country has everythingneeded for progress," saidHossain.-NNI

Govt keento develop

BalochistanISLAMABAD: FederalMinister for Science andTechnology Mir ChangezKhan Jamali has said thatthe present government isfully committed for devel-opment of Balochistan andall available resourceswould be mobilised in orderto bring Balochistan at parwith other provinces.

He said this while talkingto the Chief Minister ofBalochistan, NawabMuhammad Aslam Raisani,who called on him onFriday. They discussed mat-ters pertaining to mutualinterest with special refer-ence to the security anddevelopment of the countryespecially internal situationof Balochistan, said a pressrelease issued here onFriday.

The Chief Minister con-gratulated the minister forbecoming member ofFederal Cabinet and viewedthat the Science andTechnology is an engine ofeconomy, expressing hopethat Jamali would workwith dedication for devel-opment of technology in thecountry.

He also requested theMinister that the people ofBalochistan expect him toprovide due share toBalochistan in this sector.The minister while welcom-ing the chief Minister saidthat formulation of rationalepolicies for promotion ofScience and Technologyand innovation in this sectorcan play a vital role for sus-tainable and equitablesocio-economic progressfor the people of Pakistan.

He pledged that he woulddischarge his duty honestlyand dedicatedly and wouldtry to deliver to bringchange and meet the chal-lenges to fulfill the confi-dence of the people and hisleadership, posed on him asa Minister, he maintained.

He assured his full sup-port to the Chief Ministeron behalf of his Ministryand informed that hisMinistry is going to launcha programme for setting upscientific educational insti-tution and training centresin Balochistan. -APP

SZABISTstarts treeplantationcampaign

I S L A M A B A D :Chancellor ShaheedZulfiqar Ali BhuttoInstitute of Science andTechnology (SZABIST),Dr. Azra Fazal Pechuhoplanted a sapling to inaugu-rate the spring tree planta-tion campaign here Friday.

Addressing the students,Dr. Azra said that this isresponsibility of every citi-zen to contribute his sharein plantation to make envi-ronment healthy and clean.

Dr. Azra said that treesprotect us from scorchingheat in summer and give usfruits and fuel. She addedthat trees in forests drawthe rain from the cloudsfloating in the sky antcheck the quick flow ofrain-water and thereby,reduce chance of highflood in our rivers.

On the other hand, sheadded, this slow process ofwater-flow provide goodwater throughout the yearthrough streams andstreamlets.-APP

Recordaspirants

take ACCAexamination

TFD Report

KARACHI: Results from theACCA (Association ofChartered CertifiedAccountants) examinations inDecember reveal that a record205,000 individuals satpapers, with more than 6,000taking a major step towardsmembership of the globalbody for professionalaccountants.

Candidates around theworld took more than 397,000papers, with 6,420 studentssuccessfully completing theirfinal ACCA exams and a fur-ther 2,926 students complet-ing the Certified AccountingTechnician (CAT) exams,says a press release.

Arif Masud Mirza, Head ofACCA Pakistan, said: "Weare delighted to see studentssuccessfully completing theirexaminations and demonstrat-ing those skills demanded byemployers in these challeng-ing times.

ISLAMABAD: SmallDam Organisation(SDO)has failed to constructDadocha Dam after lapseof one decade as landgrabbers and some influ-ential housing societiespurchased the land on theproposed site.

In the year 2000, thePunjab government askedSmall Dam Organizationto prepare feasibility oftwo new small dams in theRawalpindi district toovercome water shortagein the region.

Technical experts and

engineers selected twosuitable sites for construc-tion of new water reser-voirs. One was Chirah atKorang stream and otherwas Dadocha on RiverSoan.

In 2002 the feasibilityreport and PC-1 ofDadocha Dam was pre-pared by Small DamOrganisation according towhich, the project wouldbe constructed on SoanRiver near Dadocha vil-lage some 35 km towardseast from Rawalpindi.

The project would cost

Rs335.36 million, whichwill cover total area of18000 Kanals, with catch-ment area of 335 squareKM. The maximumheight of the dam wouldbe 37.50 meters. DadochaDam would supply 25MGD (million gallons perday)to the twin cities.

Small DamOrganization handed overPC-1 to the Irrigation andPower Department Punjabfor the release of funds.But after lapse of eightyears the funds could notbe allocated.-Online

Construction ofDadocha Damin doldrums

MUMBAI: The Indian rupeeended stronger on Friday, afterhitting its lowest in more than 1week in the previous session,on back of firm domesticshares and broad dollar weak-ness overseas.

The local unit's rise, howev-er, was limited due to cautionbefore the federal budget onMonday, traders said, addingmovement in domestic sharesafter its release will influencethe rupee to a great extent.

The partially convertiblerupee ended at 45.31/32 perdollar against Thursday's closeof 45.48/50, a level last seen onFeb. 15. Intraday, the rupeemoved in a 45.27-45.41 range.

"Globally, the dollar hasweakened against most majorcurrencies and buying fromlocal oil firms seen over thepast few days reduced today. Inaddition, oil prices have alsoeased," said a foreign exchangedealer at HDFC Bank.

The one-month onshore for-ward premiums were at 29.75

points, against Thursday'sclose of 26.00 points.

The one-month offshore non-deliverable forward contractswere quoted at 45.58, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange were at 45.5950, onthe MCX-SX at 45.6000, whileon the United Stock Exchangethey were at 45.6075, with thetotal traded volume at about$7.17 billion. -Reuters

India rupee gains onglobal dlr weakness

3Saturday, February 26, 2011

Currencies Rate

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 25/02/2011

A USD GBP CAD EUR JPY

O/N 0.22550 0.55625 0.97250 0.60000 SN 0.10688

1WK 0.25050 0.57563 1.00250 0.68125 0.11625

2WK 0.25600 0.58313 1.03583 0.75250 0.11938

1MO 0.26100 0.61250 1.08050 0.82313 0.13375

2MO 0.28600 0.68250 1.14583 0.91750 0.15688

3MO 0.31050 0.80138 1.20833 1.04625 0.19125

4MO 0.35300 0.88313 1.27717 1.13250 0.24313

5MO 0.41050 0.99100 1.34417 1.22250 0.30000

6MO 0.46400 1.10950 1.41217 1.32813 0.34625

7MO 0.51750 1.18988 1.50033 1.38563 0.39500

8MO 0.57125 1.27613 1.58117 1.44688 0.44438

9MO 0.62675 1.35738 1.66033 1.51438 0.49000

10MO 0.67900 1.43813 1.75200 1.57125 0.51563

11MO 0.73100 1.50625 1.84417 1.62875 0.54250

12MO 0.79225 1.57500 1.93383 1.69500 0.56875

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

U.S.A. 85.50 85.30 85.05

U.K. 138.07 137.74 137.31

EURO 118.16 117.88 117.50

CANADA 87.08 86.88 86.65

SWITZERLAND 92.43 92.21 91.97

AUSTRALIA 86.64 86.43 86.21

SWEDEN 13.39 13.36 13.33

JAPAN 1.04 1.04 1.04

NORWAY 15.23 15.20 15.16

SINGAPORE 67.00 66.85 66.67

DENMARK 15.85 15.81 15.77

SAUDI ARABIA 22.80 22.74 22.68

HONG KONG 10.97 10.95 10.92

CHINA 13.01 12.98 12.94

KUWAIT 306.77 306.05 305.25

MALAYSIA 28.02 27.96 27.88

NEW ZEALAND 64.30 64.15 63.98

QATAR 23.48 23.42 23.36

U.A.E. 23.28 23.22 23.16

KR WON 0.08 0.08 0.08

THAILAND 2.79 2.79 2.78

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

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

ABLN 12.50 13.00 12.60 13.10 12.70 13.20 13.35 13.60 13.60 13.85 13.70 14.20 13.80 14.30 14.00 14.50

JSBL 12.80 13.30 12.90 13.40 12.90 13.40 13.40 13.65 13.60 13.85 13.70 14.20 13.80 14.30 13.90 14.40

ASPK 12.80 13.30 12.85 13.35 12.85 13.35 13.30 13.55 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

CIPK 12.70 13.20 12.75 13.25 12.80 13.30 13.40 13.65 13.70 13.95 13.80 14.30 14.00 14.50 14.10 14.60

DBPK 12.50 13.00 12.70 13.20 12.75 13.25 13.30 13.55 13.40 13.65 13.50 14.00 13.60 14.10 13.80 14.30

FBPK 12.80 13.30 12.80 13.30 12.80 13.30 13.40 13.65 13.55 13.80 13.70 14.20 13.80 14.30 13.90 14.40

FLAH 12.75 13.25 12.75 13.25 12.80 13.30 13.35 13.60 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

HBPK 12.80 13.30 12.85 13.35 12.85 13.35 13.35 13.60 13.50 13.75 13.65 14.15 13.75 14.25 13.85 14.35

HKBP 12.65 13.15 12.80 13.30 12.85 13.35 13.30 13.55 13.50 13.75 13.60 14.10 13.75 14.25 13.85 14.35

NIPK 12.60 13.10 12.75 13.25 13.00 13.50 13.30 13.55 13.40 13.65 13.60 14.10 13.70 14.20 13.75 14.25

HMBP 12.70 13.20 12.80 13.30 12.85 13.35 13.40 13.65 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

SAMB 12.85 13.35 12.90 13.40 12.90 13.40 13.35 13.60 13.50 13.75 13.65 14.15 13.75 14.25 13.85 14.35

MCB 12.75 13.25 12.75 13.25 12.75 13.25 13.35 13.60 13.50 13.75 13.60 14.10 13.70 14.20 13.80 14.30

NBPK 12.75 13.25 12.80 13.30 12.85 13.35 13.30 13.55 13.50 13.75 13.70 14.20 13.80 14.30 13.90 14.40

SCPK 12.65 13.15 12.65 13.15 12.65 13.15 13.25 13.50 13.45 13.70 13.60 14.10 13.70 14.20 13.80 14.30

UBPL 12.75 13.25 12.80 13.30 12.85 13.35 13.40 13.65 13.50 13.75 13.65 14.15 13.80 14.30 13.90 14.40

AVE 12.73 13.23 12.79 13.29 12.83 13.33 13.35 13.60 13.51 13.76 13.64 14.14 13.75 14.25 13.85 14.35

London Inter Bank Offered Rates (LIBOR)

Karachi Inter Bank Offered Rates (KIBOR)

Name Bid Ask High Low

EUR-USD 1.3738 1.3740 1.3839 1.3727

USD-CHF 0.9305 0.9310 0.9316 0.9235

GBP-USD 1.6042 1.6046 1.6161 1.6034

USD-CAD 0.9811 0.9816 0.9829 0.9797

AUD-USD 1.0151 1.0154 1.0156 1.0089

EUR-JPY 112.3600 112.4000 113.4300 112.2600

EUR-GBP 0.8562 0.8565 0.8592 0.8543

EUR-CHF 1.2785 1.2789 1.2841 1.2750

GBP-JPY 131.2400 131.3000 132.4700 131.1600

CHF-JPY 87.8700 87.9300 88.6900 87.7800

Gold 1403.6000 1404.2100 1409.6500 1400.0500

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)25/02/2011

As per 22.00 PST

KASB BMA ELXIR GSL ICSL JSCM AvgRate

0-7days 12.85 12.95 12.90 12.90 12.95 12.95 12.92

8-15dys 12.90 12.90 12.90 12.90 12.95 12.95 12.92

16-30dys 12.95 13.00 12.95 13.00 13.00 12.95 12.98

31-60dys 13.15 13.07 13.07 13.20 13.15 13.15 13.13

61-90dys 13.35 13.32 13.35 13.35 13.35 13.35 13.35

91-120dys 13.48 13.45 13.48 13.50 13.50 13.45 13.48

121-180dys 13.60 13.62 13.58 13.62 13.60 13.61 13.61

181-270dys 13.68 13.67 13.68 13.68 13.70 13.65 13.68

271-365dys 13.78 13.76 13.79 13.80 13.80 13.75 13.78

2-- years 14.10 14.10 14.05 14.00 14.05 14.05 14.07

3-- years 14.15 14.19 14.19 14.10 14.20 14.18 14.18

4-- years 14.18 14.22 14.20 14.10 14.22 14.20 14.20

5-- years 14.20 14.22 14.21 14.20 14.20 14.20 14.21

6-- years 14.26 14.26 14.25 14.20 14.30 14.25 14.26

7-- years 14.26 14.30 14.29 14.25 14.35 14.30 14.29

8-- years 14.25 14.25 14.22 14.23 14.23 14.22 14.23

9-- years 14.23 14.17 14.15 14.22 14.20 14.18 14.19

10--years 14.23 14.22 14.19 14.18 14.20 14.20 14.20

15--years 14.50 14.60 14.60 14.55 14.60 14.50 14.56

20--years 14.75 14.70 14.75 14.90 14.75 14.75 14.77

30--years 14.90 14.85 14.95 15.10 15.00 15.00 14.97

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for February 25, 2011

Source Events Actual Forecast Previous

JPY Tokyo Core CPI y/y -0.4% -0.3% -0.2%

GBP GfK Consumer Confidence -28 -27 -29

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

EUR French Consumer Spending m/m -0.5% -0.7% 0.4%

EUR M3 Money Supply y/y 1.5% 2.1% 1.7%

EUR Private Loans y/y 2.4% 2.1% 1.9%

GBP Revised GDP q/q -0.6% -0.5% -0.5%

GBP Prelim Business Investment q/q -2.5% -0.3% 4.0%

GBP Index of Services 3m/3m -0.7% -0.4% 0.3%

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada March 1, 2011 September 8, 2010 1%

Bank of England March 10, 2011 March 5, 2009 0.50%

Bank of Japan March 15, 2011 December 19, 2008 0.10%

European Central Bank March 3, 2011 May 7, 2009 1%

Federal Reserve March 15, 2011 December 16, 2008 0.25%

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

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

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, February 25,2011 Treasury Management Division of National Bankof Pakistan (NBP) Monday issued the following Exchange rates:

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

1 week 0.22 -0.48 0.60 0.55 0.80 -0.02 0.76 -0.86

1 month 0.11 -0.47 0.49 0.15 0.17 0.46 0.23 -0.79

3 months 0.40 0.47 0.42 0.84 0.86 0.52 -0.54 -0.51

6 months 0.58 0.64 0.86 0.86 0.80 0.62 -0.36 -0.53

1 year 0.77 -0.02 0.64 0.38 0.73 0.66 -0.63 -0.69

2 years 0.15 0.54 0.57 0.70 0.80 0.21 -0.04 -0.37

Currencies CorrelationEUR/USD

NEW YORK: The dollar reboundedagainst the euro on Friday, boosted by aretreat in oil prices after Saudi Arabiastepped up crude supply, with the cur-rency possibly attracting more flows ifMiddle East tensions escalate.

The lower oil-higher dollar correla-tion may be in place for now, but someanalysts said the link could weaken andthe greenback could rise if the situationin the Middle East gets out of control.

In mid-morning New York trade, theeuro was down 0.5 per cent on the dayat $1.3737. It hit session lows. at$1.3720, reversing earlier gains whichtook it to the highest against the dollarin more than three weeks.

The euro's early session strength washelped by inflation-fighting rhetoricfrom euro zone policy-makers, which

added to expectations euro-zone rateswill rise faster than that in the UnitedStates.

A weeklyeuro closeabove thisyear's highs at$1.3862, hit inearly February,leaves the europoised for fur-ther gainstoward $1.40. This level was viewed asstrong resistance, with traders reportingAsian central bank offers defending anoption barrier at the $1.3840-50 area.

ING's McCarthy said the marketoverall seemed wary of pushing thedollar sharply lower despite the recentsurge in oil prices. If a civil uprising in

Libya worsens or unrest spreads toother parts of the Middle East, the INGtrader said the dollar could revert back

to its traditional role as a safe-havencurrency.

The dollar was up 0.5 per cent at0.9311 Swiss franc, having hit a recordlow of 0.9229 franc on Thursday.Market commentators said the francmay face some liquidation of long posi-tions, especially if oil prices stabilise.

Against a basket of currencies, thedollar was up 0.4 per cent at 77.382, notfar from a 3-1/2 month low of 76.881.

The dollar briefly trimmed its gainsagainst the euro after a second readingof US gross domestic product datashowed the economy grew slower thanexpected in the fourth quarter.

Growing expectations for higherinterest rates in the euro-zone whilepolicy in the US remains loose havesupported the euro, with EuropeanCentral Bank policy-maker Axel Webersaying on Thursday the only directionfor rates was up.

The US dollar fell to a three-year lowversus the Canadian dollar at C$0.9797,helped by elevated oil prices and astraders took out an option barrier atC$0.9800. -Reuters

US dollar grows vs euro,Swiss franc as oil goes down

SHANGHAI: The yuan closedup slightly against the dollar onFriday but gains were cappedby caution after the People'sBank of China set a high mid-point but failed to let its dailyfixing hit a record high.

Traders had expected the fix-ing to hit a new peak as Beijingappeared to be using the yuanto help fight imported inflationpropelled by high global com-modity prices, with oil fluctu-ating sharply this week.

The benchmark ReutersJefferies CRB index, whichcovers 19 mostly US-tradedcommodities, has leapt aroundnearly 40 per cent since Junelast year, while China is theworld's fastest growing marketfor staple goods.

The PBOC has made nosecret about the potential foryuan appreciation as it hasguided the Chinese currency toa slew of record highs this yeareven after the US administra-tion relieved pressure bydeclining to name China a cur-rency manipulator in aTreasury report this month.

"While many players expectthe PBOC to let the yuanappreciate to help fight import-

ed inflation this year, the mar-ket is watching how the centralbank is controlling the pace,"said a trader at a Chinese com-mercial bank in Shenzhen."Most of us expect the yuan tohit more record highs as earlyas next week."

Spot yuan closed at 6.5750 tothe dollar from Thursday'sclose of 6.5787 and havingnow risen 3.82 per cent sinceits depegging from the dollar inJune 2010. Before tradingbegan, the PBOC fixed theyuan's mid-point at 6.5757 ver-sus the dollar, stronger thanThursday's 6.5795 but just shyof a record high of 6.5705 onMonday.

The daily fixing, from whichthe yuan can trade up or downa maximum 0.5 per cent in agiven day, is used by the cen-tral bank to express the gov-ernment's intentions for thecurrency. Benchmark one-yeardollar/yuan non-deliverableforwards were bid at 6.4260,down from 6.4300 atThursday's close. Theirimplied yuan appreciation in ayear's time edged higher to2.33 per cent from 2.27 percent. -Reuters

Yuan edges up, awaitsnext cbank move

SYDNEY/WELLINGTON: The Australiandollar held firm on Friday, defying Middle Easttensions and high oil prices to reach a decadehigh on its New Zealand counterpart as pressuregrew for a cut in interest rates there.

The Aussie dollar climbed to $1.0131 from$1.0088 in New York. It was flat for the week,but well above a low of $0.9963. Resistance isseen at $1.0158, while support is seen aroundparity. Further gains may be tough though, withtraders saying there was selling interest at thesession high.

'I think the $1.0120/50 zone is probably agood area to sell the Aussie,' a trader at a USinvestment bank said.

Against the kiwi dollar, the Aussie leaped to a10-year peak of NZ$1.3509, up two cents on theweek, on diverging outlooks for interest rates. Itwas last at NZ$1.3480.

The Aussie was helped by this week's upbeat dataon business investment, as well as broad weakness inthe US dollar as some see the US economy as more

vulnerable to high oil prices, given its reliance onconsumer spending to drive growth.

Repeated attempts to drive the Aussie downhave also been met with robust demand fromreal money funds, exporters and Asian centralbanks. Meanwhile, the New Zealand dollar roseto $0.7509, from $0.7477 in New York, after thecountry's central bank denied it was holding anemergency policy meeting in the wake of theearthquake in Christchurch.

Rumours were circulating in financial marketsthat a meeting was underway to consider anemergency interest rate cut because the 6.3 mag-nitude quake has devastated the country's sec-ond biggest city. Some analysts have suggestedthe quake damage justifies the RBNZ cutting itscash rate, currently sitting at 3 per cent, to bol-ster consumer confidence.

Pricing for rate hikes has collapsed and marketsare fully pricing a 25 basis-point rate cut by thenext meeting on March 10, and even imply a 12per cent chance of a 50 basis point cut. -Reuters

Resilient Aus dollar ata decade peak against NZ

SINGAPORE: The SouthKorean won and Malaysian ring-git rose on Friday as oil pulledback from $120 a barrel and onviews that regional central banksmay stem currency falls, buttraders said emerging marketcurrencies remained vulnerableto further volatility in energymarkets.

Emerging Asian currencies fellnot only against the dollar butalso the yen and the euro asinvestors continued to seek therelative safety of developed mar-kets and shifted away fromemerging Asian markets.

Some traders took comfort inthe view that regional foreignexchange authorities may inter-vene to stem currency falls andto reduce inflationary pressures.

Reflecting the views, Taiwan

central bank was spotted sellingUS dollars again, dealers said.

Dollar/won fell as investorscleared long positions in the pairand exporters chased it for end-month settlements.

"It was difficult to stay above1,130 on exporters' deals. And Idon't think the authorities wouldbe happy with the pair's furthergains given the oil price issue,"said a foreign bank dealer inSeoul.

Earlier, South Korea's vicefinance minister said the infla-tion environment had grownmore difficult from late last yearboth at home and abroad.

"I'm sure that the authoritiesdon't like to see a level below1,100. But it does not mean thatthey want higher levels than1,130 now," said another dealer

in Singapore. Dollar/Taiwan dollar erased

most rises after the central bankwas spotted selling US dollarsand some foreign banks tookprofit from the pair's recent rally.

The central bank's dollarsales were seen aroundbetween 29.830 and 29.900and estimated selling morethan $100 million in the morn-ing, reducing upward pressureon USD/TWD, dealers said.

Foreign investors have sold anet T$97.1 billion ($3.26 billion)so far this month, compared withtotal net purchases of T$99.3 bil-lion in January.

Dollar/ringgit fell as investorswere relieved by weaker oilprices, but dealers were not con-fident on if the pair would fallmore. -Reuters

Asian currencies

Won, ringgit up on oilretreat; cbanks may cap falls

LONDON: Sterling came underpressure on Friday, after datashowed a deeper economic con-traction in the UK than earlierthought, dampening expecta-tions of an early interest rate hikeand keeping alive the risk of adownturn.

Revised official data showedthe UK economy shrank 0.6 percent in the last three months of2010, more than the preliminaryreading of a 0.5 per cent contrac-tion. Sterling slumped to a three-week low against the euro after

the data, extending its losses ver-sus the single currency thisweek. It shed 0.6 per cent againstthe US dollar to $1.6040, itsweakest in more than a week,while the euro was up 0.2 percent at 85.63 pence.

"The main driver for sterlingwas the GDP numbers which haspoured some cold water onexpectations of an early ratehike," said Richard Wiltshire,chief fx trader at ETX Capital.

"We have also seen the dollargain on month-end demand but

as more investors reassesschances of an early rate hike inthe UK, sterling could comeunder pressure." He added stopswere placed below $1.60 and abreak below that could see morelosses.

Increasing rate rise speculationhas prompted a pile-up in longsterling positions, or bets that thecurrency will rise, and analystssaid the weak data promptedsome to unwind those positions.

Implied rates, based onindexed swaps and interest rate

futures, suggest the BoE willraise rates by 25 basis points inJune and once more by the endof the year.

Some are still pricing in a 26per cent chance of a hike inApril, lower than around 30 percent that was being factored inon Thursday.

Friday's data highlighted thedilemma faced by the BoE inbalancing rising inflation, whichis double the central bank's 2 percent target, with the headwindsbuffeting the economy.-Reuters

Stg falls as UK Q4GDP revised lower

Swiss francholds gains

ZURICH: The Swiss francticked closer to the previoussession's record high againstthe dollar on Friday as the con-tinuing Libyan turmoil andvolatile oil prices kept riskaversion high on traders' agen-da, fuelling franc strength.

The franc held edged upagainst the dollar, within strik-ing distance of its all-time highof 0.9230 francs per dollar setduring Thursday trading. TheSwissie was flat against theeuro but remained close to thehighs of the week.

"Geopolitical risks have beenthe main drivers of trading in theSwiss franc in the last few days,and we have seen the typicalbehaviour of the franc as a safehaven," said Commerzbank for-eign exchange analyst You-NaPark. "As long as the risks per-taining to the crisis in the MiddleEast and North Africa are in themarket, the franc will continue torise on them," she said.

The franc was steady againstthe euro compared to the NewYork close, trading at 1.278 pereuro at 0815 GMT. The francwas slightly higher against thedollar at 0.925 francs per dollar."The break below 0.93 for thedollar-franc has led technicalmomentum to turn bearish,opening up the risk of a slide tothe 0.90 area," said Credit Suisseanalysts in a note. -Reuters

Taiwan cbank seen buying dollar at T$29.725: dealers

Divergent euro zone-US rate view still supports euro

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Canolaincentive

Experts have been suggesting increase incanola plantation in Pakistan and the centralbank is also offering credit. The effort isaimed at making the country self sufficient inproduction of edible oil. At an averagePakistan imports edible oil worth US$2 bil-lion annually. The agriculture experts adviseto follow the example of Canada.

According to Statistics released by CanolaCouncil of Canada the farm cash receipttotaled US$21.871 billion for 2010 andcanola emerged the largest contributor, put-ting $5.598 billion in farmers' wallets, arecord for Canada's golden crop producers.

Canola was the number one crop for farmcash receipts, followed by wheat at $3.54 bil-lion, corn at $1.44 billion and soybeans at$1.42 billion. Overall crop farm cash receiptsfor 2010 were $21.871 billion, down 6.3 percent as compared to 2009.

In Saskatchewan, the largest producer ofcanola in Canada, canola farm cash receiptsincreased by 16 per cent from 2009 to $2.72billion. The numbers were up in the other topcanola growing provinces as well; Manitoba's2010 canola receipts were $1.12 billion andAlberta's were $1.71 billion.

According to Canola Council of Canadaabout 43,000 canola growers choose canolabecause it's resilient and it delivers profit,year after year. Canadian canola productionwas around 12 million tonnes in 2010 butcountry aims to achieve a target of 15 milliontonnes production in Canada by 2015

Ironically, the experts have not been able toeducate farmers in Pakistan to cultivatecanola. Some of the experts oppose the ideabecause they consider canola competesdirectly with wheat and any increase in areaunder canola cultivation can prove detrimen-tal in achieving food self sufficiency.

However, some experts believe strongly thatthe two crops do not compete with otherbecause the soil requirement is not the same.They even go to the extent of saying that ifproper efforts are made canola can be culti-vated in areas not suitable for wheat growing.The added advantage is canola requires lesswater but ensuring application of appropriatedosage of nutrients can help in achievinggood yield.

The added advantage is that Pakistani's arealready familiar with the taste of canola oiland letting the consumers know the benefitsof canola oil can make the transition evensmoother. Canola oil can also be used for theproduction of bio-diesel. At present Pakistanimports huge quantity of diesel which eats upa lot of foreign exchange of the country.

Pakistan should learn from the experience ofCanada which is one of the largest producersof canola in the world. This will yield twoimmediate returns saving of huge foreignexchange and a lot of oilcakes for milk yield-ing animals.

4Saturday, February 26, 2011

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

Editor: Shakil H. Jafri

Executive Editor: Manzar Naqvi

Honorary Advisory Board

Haseeb Khan, FCA

Asim Abbas Ashary, CPA

Akhtar M. Zaidi, FCA

Dr. A. Hadi Shahid, FCA

Muhammad Arif

S. Muneer Hussain Rizvi

Khurram Shehzad, CFA

Prof. Zakaria Sajid (KU)

Zahid Bukhari SVP HBL (retd)

Ismat Sabir

Head office

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Email Address: editor@thefinancialdaily.com

The Financial Daily InternationalVol 4, Issue 192

Nearly six years after the death ofhis son, John Quinn is able towork again, socialise and to all

intents and purposes live a near normalexistence.

But the sight of his 17-year-old sonhanging limp from a noose in the familyhome will remain forever etched in hismemory.

In an effort to come to terms with thetragedy, the affable taxi driver fromDublin has carved out a second careerhelping others who are feeling suicidaland desperate.

At a time when Ireland's debt crisis hasplunged thousands into despair, his helpis greatly needed.

"It helps me," Quinn told Reuters. "Ifyou can stop one family or one personfrom going through the absolute messthat we've gone through, it makes itworthwhile.

"But this time next week there will be10 people who have died from suicide inIreland. And with this recession you canonly imagine that it's going to get higherand higher."

Traditionally, Ireland has had a highrate of suicide among young people, eventhough this largely Catholic country didnot decriminalise suicide until 1993.

But, as the recession eats into the fabricof life, an increasing number of middle-aged men are killing themselves, withhanging the favoured method.

More than 500 suicides were recordedin 2009 -- a 24 percent increase from2008 -- and many suspect the real num-ber is much higher. More Irish peoplenow commit suicide than are killed onthe country's roads.

Charities and organisations working tocombat the problem say there is no doubtthat the rise is linked to the economicmeltdown that hit the country in 2008.

"The deaths are consistent with ourassumption that a lot of the increase isdue to the economic recession," saidGeoff Day of the National Office forSuicide Prevention.

"These are men who would have beenin work but now find themselves eitherunemployed or facing financial prob-lems." Many of those killing themselves

today were thriving as part of the "CelticTiger" economy a few years ago.

"We've gone from a very vibrant econ-omy to one in recession very quickly andmuch more sharply than the rest ofEurope," Day said.

SUICIDE AND SHAMEAs the number of people out of work

and struggling to pay back debts rises, sohas the number of deaths recorded in thenewspapers as "tragic", often interpretedto mean suicide.

John Connolly, a psychologist andfounder of the Irish Association ofSuicidology, says the sense of shame andtaboo that once surrounded suicide nolonger prevails in a country now lessinfluenced by its Catholic traditions.

"As far as the Church is concerned, sui-cide is still a sin but of course pastoralpractice has changed enormously," hesaid. "People aren't afraid to go to thefunerals of suicides. The homilies nowreflect the proper way of dealing with it.

"In the past, a lot of people would havebeen slow to go to their spiritual adviserin case they were told that their loved one

had gone to hell. That's not the case anymore."

Joan Freeman, the chief executive andfounder of Pieta House, which helpscounsel those feeling suicidal, says themedia has also learnt to deal with the sub-ject in a less sensational way.

Recent reports simply described thecircumstances in which the dead werediscovered: a middle-aged man clutchingrosary beads, another discovered after afew days by his sister.

Those coping with the shock of suicidespeak of a range of emotions from anger,guilt and shame to confusion and hurt.

"I found him hanging from the atticdoor," Quinn said quietly of his son. "Istill don't know why.

"I didn't go back to work for sevenweeks and on my first job back, I washalf way to Dublin airport before Irealised that I'd forgotten to pick up thepassenger.

"After a while you stop asking thequestion why but you don't get over it.And the sight. That will never leave me.Never."-Reuters

Economic Crisis Kills

No two oil shocks are alike, but thechances are that emergingeconomies could suffer a little less

than the developed world if the latestprice surge to 29-month highs is sus-tained.

Yet this would not be another illustra-tion of how developing countries aredecoupling from the West, for slowergrowth in the rich world would eventual-ly rebound on emerging nations.

Only oil exporters are unambiguouswinners -- for a while, at least -- from theredistribution of income set in motion bya spike in oil like the one this week, whichwas triggered by fears that unrest in Libyawill disrupt supplies.

"Emerging markets will be hit, but theyhave deep enough pockets to still affordthe cushion of subsidies," said AliciaGarcia-Herrero, chief emerging marketseconomist for Spanish bank BBVA.

That option is not open to mostadvanced economies, which have startedto tighten fiscal policy to reduce budgetdeficits that ballooned during the worsteconomic crisis in 80 years.

"The last thing you want now is an oilshock," Hong Kong-based Garcia-Herrero said. "In the developed world,this additional shock will basically delay

the recovery even further."Among big emerging economies, she

said only Mexico, Russia and, to a lesserextent, Brazil, stood to benefit from dear-er oil. Latin America would, generallyspeaking, get off more lightly than Asia,Garcia-Herrero added.

TERMS OF TRADEA rise in crude causes deterioration in

an oil-importing country's terms of trade:it has to pay more for a given amount ofimports than it gets for the same volumeof exports.

This eats into national income andtranslates into reduced consumption, nar-rower profit margins and higher inflation.

Central banks in advanced economiestypically look past a rise in oil prices whensetting monetary policy because, while itbrings about a temporary change in theprice level, it does not usually trigger aninflationary cycle across the economy.

That's why G3 central banks -- in theUnited States, the euro zone and Japan --fret more about the impact that a worsen-ing of the terms of trade has on growththan on inflation, said Richard Jerram,chief non-Japan Asia economist atMacquarie.

"But emerging economies tend to bemore prone to second-round effects, espe-

cially when the domestic economy ispretty tight already and there's clearly agreater risk of a domestic price effect,"Jerram said.

So whereas the Fed would positivelywelcome a modest inflationary jolt, cen-tral bankers in emerging economiesalready struggling to cap price pressuresare in for sleepless nights.

"G3 is worried about the hit to growthand emerging Asia is worried about thehit to inflation because it's recoveredalready. So you suffer, but you suffer in adifferent way," Jerram said.

FEEDBACK LOOPSCentral banks across Asia were tighten-

ing policy too slowly for the taste of manyanalysts even before turmoil in NorthAfrica sent oil prices through the roof.

"This is going to be a further blowbecause the second-round effects aregoing to be massive," Garcia-Herrerosaid. "I don't think central banks realisethat this might not be just a short-termsupply shock, so they should move fast."

The danger is that without promptaction in Asia to curb booming demand -- either by cutting subsidies, looseningprice controls or tightening monetary andfiscal policy -- oil prices might not quick-ly reverse, according to economists at

HSBC.That would not only entrench inflation

in the region, but, in an illustration of theproliferating feedback loops in the globaleconomy, cause trouble elsewhere, espe-cially in advanced markets.

"As Asia fiddles and delays the rise inpetroleum costs, it continues to consumeoil voraciously, putting further upwardpressure on global crude prices.Meanwhile, others take the heat," HSBCeconomists Frederic Neumann andSherman Chan said in a report.

They said there was no need for Asia topanic over this week's spike in oil becausegrowth in the region was not as sensitiveto crude prices as other parts of the world.

But Asia's exporters would ultimatelysuffer if dear oil sapped consumer spend-ing in the West. And, echoing the views ofothers, they said the knock-on effects ofhigher oil prices was bound to be severaltimes larger in the East than in the West.

"Don't bet though that central bankswill take this as a cue for imminent hikes.The risk, rather, is that they shrug offhigher oil prices as self-correcting. Thatwould be a mistake. One, in fact, that wasalready made in the 1970s. Let's not goback there," Neumann and Chan wrote.-Reuters

Crude Reality to Bite West

Venezuela's usually loquaciousleader Hugo Chavez has beenuncharacteristically quiet on the

unfolding revolt in Libya against hisclose friend and ally Muammar Gaddafi.

Usually quick to opine on any globalcrisis, Chavez has Tweeted once but oth-erwise barely mentioned the uprisingagainst a man he in the past showeredwith gifts, awards and garrulous praiseas a fellow socialist revolutionary.

Some opponents see the Venezuelanpresident's attitude as evidence of nervesthe wave of protests against authoritarianrulers in North Africa and the MiddleEast could extend as far as Latin America-- and threaten his own 12-year rule.

Yet there is scant evidence on theground of a nascent mass resistancemovement. On the contrary, the opposi-tion is calmly preparing for primaries atthe end of the year ahead of a 2012 pres-idential election in the South Americannation.

Chavez officials are not panicking,though they did move with surprisingpragmatism this week to negotiate withstudent hunger-strikers and grant themconcessions rather than let a three-weekprotest snowball into anything bigger.

And though his ratings have been indecline, the OPEC member's economy isin serious straits, and opponents portrayhim as increasingly dictatorial, Chavezremains Venezuela's single most popularpolitician by far.

"I do not see the crisis in the MiddleEast transferring to Venezuela in theshort-term. The conditions are not thereat the moment," said Venezuelan analystDiego Moya-Ocampos, of the interna-tional think-tank IHS Global Insight.

Rather than a domino effect from the

Arab unrest, next year's presidential votelooms as Venezuela's potential flash-point, analysts and diplomats say.

If an increasingly confident opposi-tion, which won half of the popular votein last year's parliamentary poll, consid-ers it has been cheated, it could try torevive the kind of street protests thathelped produce a bloody 48-hour coupagainst Chavez in 2002.

The trauma of 2002 left scars and les-sons on all sides: Chavez radicalizedafterward and vowed never to exposehimself again like that, the opposition'spolitical immaturity was revealed, andthe military was shown to be the crucialfactor first in the president's departureand then his return.

In another scenario, if Chavez loses the2012 vote, he might resist leaving power.

"I see the election as more of a threatto stability in Venezuela than Libya andEgypt," a Caracas-based diplomat said."But we have to be honest -- all of usfailed to predict the fall of communismand now the fall of the Arab dictators,so we are in the realm of the unpre-dictable here."

"SHAMEFUL" FRIENDSHIPJust as the West has faced a dilemma

over the Middle East -- caught betweensupport for the clamor for democracyon the street and decades-old allianceswith autocratic Arab leaders for thesake of stability -- so does Chavez facea paradox.

The 56-year-old ex-soldier, who led afailed coup attempt before winningpower at the ballot box in 1998, has casthimself as a champion of popular move-ments but also a stalwart friend of Arableaders, especially Gaddafi.

Chavez actually broke his silence on

Libya late Thursday with a brief mes-sage via Twitter, declaring: "Long liveLibya and its Independence! Gaddafifaces a civil war!!"

His foreign minister, Nicolas Maduro,also chose his words carefully, callingfor an end to violence and echoing anaccusation by Cuba's Fidel Castro thatthe United States was trying to createconditions to justify an invasion ofLibya.

"The main objective of the Libyaninvasion is the same Bush had - oil. Totake its oil, leave Libya in 20 pieces anddeprive OPEC of one of its main places,"he said, referring to former U.S. leaderGeorge W. Bush's war in Iraq.

Arab TV stations have reportedrumours that Gaddafi and his familycould take asylum in Venezuela, prompt-ing denials in both countries but outrag-ing Chavez opponents here who say hisfriendship with the Libyan is an interna-tional embarrassment.

"It's shameful for Venezuela that heholds the sword and order of our'Liberator'," opposition newspaperTalCual said in an editorial on Friday,referring to Chavez's gift to Gaddafi of areplica of independence hero SimonBolivar's sword.

"It's a dishonor to us that Venezuela'sname is tainted abroad by being namedas his natural place of refuge."

Footage of Chavez's presentation ofthe sword to Gaddafi in 2009 is flyinground opposition cyber-circles in a bid tomake the Venezuelan squirm and tainthim by association.

Although Chavez shows plenty ofauthoritarian traits, from endless dailyspeeches and legal pursuits of opponentsto surprise nationalizations announced

live on TV and a one-man style of lead-ership, more direct comparisons with theArab strongmen may be a push, analystssay.

He has, after all, won about a dozenelections in Venezuela and still com-mands way more support than any of hiswould-be rivals at next year's election.Supporters argue Venezuela's revolutionalready came when Chavez took officein 1990 and swept away an old elite thatcared nothing about the poor.

Venezuelans on all sides are fanaticusers of social media, with no overt gov-ernment moves against Internet accessdespite opposition claims that the gov-ernment has Cuban advisers showing ithow to cut off or restrict the Internet ifand when needed.

If Middle East events are obviouslyawkward for Chavez, there is one reasonfor him to smile -- the price of oil.

With Venezuela's economy whollydependent on crude exports, and strug-gling despite the pre-unrest spike inprices, the latest hike above $100 a bar-rel could help ensure at least a smallrecovery after two years of recession.

It will also bolster Chavez's electionwar-chest.

Royal Bank of Scotland analystsSiobhan Morden and Raza Agha saidhigher oil revenues would provide a"near-term buffer" for Chavez. "Thiscould actually reduce the political riskwith more revenues available for social-oriented transfers and spending," theysaid in a report.

"While the domino continues in theMiddle East with social unrest unravel-ing autocratic regimes, there are yet nosigns of contagion to Venezuela."-Reuters

Arab Revolts Stir Venezuela

A leader with educational qualificationundefined was approached by his staffwith the proposal to upgrade computersystem held in his office. The leader was inthe habit of depicting interest in minorissues and also fond of expressing hisknowledge and wisdom in minor mattersdecided to visit and see the computer sys-tem personally. Staff member presentedseveral advantages of system up gradationto convince his boss using not only heavytechnical terms but also explaining com-puter as a facility in typing and printing.The leader asked his staff to sit on comput-er chair and type whatsoever he dictates.

The leader gave out dictation of few sen-tences in his modified and regionally influ-enced English. OK. Now get a print out ofwhat ever I said just now. Staff memberconfused in thought efficiently took printout. It types fine no need to change thecomputer; the leader passed the verdictwithout any hesitation and proudly leftaway indicating his decision making skills.

Normal perception of common mandoes not go far from this and computer isconsidered as typing tool only.Surprisingly this perception still existsamongst many old players capable ofdoing much in many departments. This is

why we have failed to utilized the potentialof our youth for our benefit. A lot of youngpeople are engaged in this and have spe-cialized in this field and now showing dis-tinguish performance consistently. This allranges from web development to highlyskilled software application developments.

India made full use of its talent andexpertise in information technology. Indiais now establishing second IT city addingsignificantly good to its national income.After creating a name for itself in software,India is now keen to replicate the story inelectronic manufacturing space, taking aleaf or two out from success stories of

China and Korea.With no dearth of talent, we need more

zoom and focus in this field to organizeour plan to promote IT as an industry. Onthe broader side Pakistan can also findsprospects for development of IT citieswhere only research and developmentactivities can be organized with certainbenefits extended to those taking part orcontributing. Government should set mile-stone with different timeframe to promoteand in turn apply IT as more productivetool to reduce unemployment and earn inturn from this less explored sector

Fahim Akhtar, Karachi

Information Technology, Need of the Hour

FERTILISER000 tonnesUrea Offtake (Jan to Dec 10) 6,123Urea Offtake (Dec 10) 626Urea Price (Rs/50 kg) 1,020DAP Offtake (Jan to Dec 09) 1,317DAP Offtake (Dec 10) 90DAP Price (Rs/50 kg) 3,143

AUTOMOBILE ASSEMBLERPAK SUZUKI MOTORUnitsProduction (July 10 to Jan 11) 47,153

Sales (July 10 to Jan 11) 45,113

Production (Jan 11) 6,698

Sales (Jan 11) 6,793

INDUS MOTOR COProduction (July 10 to Jan 11) 29,078

Sales (July 10 to Jan 11) 28,293

Production (Jan 11) 5,596

Sales (Jan 11) 5,885

HONDA ATLAS CARProduction (July 10 to Jan 11) 9,279

Sales (July 10 to Jan 11) 8,779

Production (Jan 11) 1,511

Sales (Jan 11) 1,904

DEWAN FAROOQ MOTORSProduction (July 10 to Jan 11) 186

Sales (July 10 to Jan 11) 113

Production (Jan 11) 0

Sales (Jan 11) 23

BANKING SECTORScheduled bank (Rs in mn)Deposit (Feburay 4,11) 5,046,861

Advances (Feburay 4,11) 3,140,675

Investments (Feburay 4,11) 2,100,015

Spread (Feburay 4,11) 7.61%

OIL MARKETING CO(000 tons)MS (Jul 10 to Dec 10) 1,122

MS (Dec 10) 188

Kerosene (Jul 10 to Dec 10) 81

Kerosene (Dec 10) 15

JP (Jul 10 to Dec 10) 727

JP (Dec 10) 138

HSD (Jul 10 to Dec 10) 3,426

HSD (Dec 10) 634

LDO (Jul 10 to Dec 10)) 32

LDO (Dec 10) 6

Fuel Oil (Jul 10 to Dec 10) 4,331

Fuel Oil (Dec 10) 690

Others (Jul 10 to Dec 10) 6

Others (Dec 10) 2

PRICES (Ex-Refinery) RsMS (1 Feb 11) 51.74

MS (1 Jan 11) 49.41

MS % Chg 4.72%

Kerosene (1 Feb 11) 58.28

Kerosene (1 Jan 11) 55.01

Kerosene % Chg 5.94%

JP-1 (1 Feb 11) 58.51

JP-1 (1 Jan 11) 55.24

JP-1 % Chg 5.92%

HSD (1 Feb 11) 61.80

HSD (1 Jan 11) 58.55

HSD % Chg 5.55%

LDO (1 Feb 11) 55.32

LDO (1 Jan 11) 53.46

LDO % Chg 3.48%

Fuel Oil (1 Feb 11) 47,931

Fuel Oil (1 Jan 11) 45,947

Sector Updates

Symbol Close Vol (mn)LOTPTA 14.08 37.65 AHCL 18.97 13.06 FFBL 39.37 6.89 ANL 8.17 5.60 NBP 67.01 5.44

Symbol Close ChangeRMPL 2,622.72 57.30

ISIL 85.90 4.09

BIFO 48.00 2.05

TRIPF 132.59 1.31

MERIT 30.24 1.24

Symbol Close ChangeULEVER 4,555.42 -239.43NESTLE 3,407.50 -26.99BATA 507.31 -25.99APL 329.15 -17POL 281.89 -9.78

Plus 42Minus 246Unchanged 75

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

Saturday, February 26, 2011 5

Opening 11,539.26

Closing 11,223.52

Change -315.74

% Change -2.74

Turnover (mn) 156.84

Opening 3,397.14

Closing 3,283.30

Change -113.84

% Change -3.35

Turnover (mn) 4.64

Opening 2,806.51

Closing 2,718.39

Change -88.12

% Change -3.14

Turnover (mn) 0.06

Markets rally, but morevolatility in store

South East Asian stocks

European shares bounce backas oil price steadies

ANNOUNCEMENTS

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

BOC (Pak) Ltd. Yearly 45%(F)(D) 243.83 9.74

Wyeth Pak Ltd. Yearly 10%(F)(D) 26.46 18.61

United Brands Half Yearly 800%(R) -34.89 -29.08

Ghandhara Ind. Half Yearly - 12.13 0.57

Land Mark Spinning Half Yearly - -0.55 -0.05

Salman Noman Half Yearly - 9.52 2.28

B.F.Modaraba Half Yearly - 13.21 1.76

J.O.V.& CO. Half Yearly - 0.11 0.002

1st.Fid.Leasing Mod Half Yearly - -2.01 -0.08

Ghani Gases Ltd. Half Yearly - 41.17 0.57

Escorts Bank Half Yearly - -22.26 -0.50

Trust Brokerage Half Yearly - -6.77 -0.68

Artistic Denim Mills Half Yearly - 117.17 1.39

Diamond Ind. Half Yearly - 1.95 0.22

Maqbool Textile Half Yearly - 18.82 1.11

Altern Energy Half Yearly - 31.89 0.09

Indus Dyeing Half Yearly - 1,047.56 57.96

Hira Textile Mills Half Yearly - 178.30 2.49

Sunrays Textile Half Yearly - 117.16 16.98

Cap.Assets Leasing Half Yearly - 5.69 0.53

Sargoda Spinning Half Yearly - 51.84 1.66

Shadab Textile Half Yearly - 37.30 12.43

Pak Leather Half Yearly - -34.22 -10.06

Premium Textile Half Yearly - 162.27 26.33

Treet Corp.(Consolidated) Half Yearly - 203.13 4.86

Treet Corporation Half Yearly - 170.22 4.07

B.P.Board Half Yearly - 0.69 0.11

Crescent Jute Half Yearly - -73.00 -3.07

Dawood Equities Half Yearly - 0.41 0.002

Sui South Gas Half Yearly - 2,113.12 2.52

Gillette Pak Half Yearly - 23.66 1.23

S.S.Oil Half Yearly - 46.08 8.14

Grays Leasing Half Yearly - -34.66 -1.61

Aruj Garments Half Yearly - 5.66 0.92

Buxly Paints Half Yearly - -5.71 -3.96

Ismail Industries Half Yearly - 103.10 2.04

Dadex Eternit Half Yearly - -32.68 -3.04

J.A.Textile Half Yearly - -1.70 -0.13

J.K.Spinning Mills Half Yearly - 75.50 4.11

Asim Textile Half Yearly - 61.87 4.08

Crescent Fibres Half Yearly - 102.62 8.26

Ashfaq Textile Half Yearly - 7.45 1.06

Ishaq Textile Half Yearly - 22.27 2.30

Sana Industries Half Yearly - 36.33 6.61

Samin Textile Half Yearly - 10.07 0.70

United Distributors Half Yearly - -45.10 -4.91

Kohinoor Mills (Consolidated) Half Yearly - -792.62 -8.68

Kohinoor Mills Half Yearly - -778.03 -8.39

Ideal Spinning Half Yearly - 48.11 4.85

Towellers Limited Half Yearly - -67.72 -3.98

Arif Habib Ltd. Half Yearly - 27.23 0.61

Shell Gas LPG Half Yearly - -10.66 -0.47

Gul Ahmed Tex. (Consolidated)Half Yearly - 461.81 7.28

Gul Ahmed Tex. Half Yearly - 452.56 7.13

Nawaz Ali

KARACHI: Profoundbearish activities seen atthe Karachi StockExchange due to deteri-orating local politicalsituation and selling byforeign investorsplunged the benchmarkindex to 11,200 levelsafter losing more than300 points.

The KSE-100 indexlost 315 points or 2.74per cent to closeat11,223 level whileKSE-30 index shed 306points or 2.77 per cent toclose at 10,756 pointsand KSE all-share indexfell by 213 points or

2.67 per cent to close at7,802 points.

"The bear spell wit-nessed was due to thepolitical uncertaintywhere PML-N decidedto part ways with PPP inPunjab", said ArsalanKhan, equity dealer atJS Global Capital.

After witnessing somemix performance duringthe initial few minutes,selling on fears of fur-ther foreign offloadingdue to falling globalstock markets sent theindex down to the bear-ish zone. Selling pres-sure then aggravated asthe session moved fur-ther. The index ended

the first session withloss of 213 points.Further, the rising inter-national oil prices overturmoil in Libya tooaffected investors' senti-ments due to its poten-tial fallout were on thelocal economy.

Losses further accu-mulated with the begin-ning of second sessionwhere apart from for-eign selling fears, thelocal political situationin the country furtherdampened investors'sentiments. At about3:30 PST index touchedan intraday low of11,102 points (-ve 437).However, some support

at lower levels helpedthe index to recoversome of the losses andended the day withreduced red numbers.

"Selling by the foreignfund managers pushedthe prices to new lowsbut support from themutual fund industryhelped stocks to closeabove their lower circuitbreakers", said SamarIqbal, equity dealer atTopline Securities.According to theNCCPL data foreignersdid a net selling of $3.05million on Friday. Onthe local side individualinvestors and companiesdid a net selling of $4.87

and $2.89 millionrespectively whilemutual funds and banksdid a net buying of$5.91 and $3.14 millionrespectively. A total ofabout 156.8 millionshares traded during theday which were 76.6million shares more ascompared to a turnoverof 80.2 million shares aday earlier.

Bears took a majorlead over the bulls as outof total 363 activeissues; 246 declinedwith majority of mainboard items closing attheir lower circuit, while42 issues advanced and75 remained unchanged.

Bleak Friday for KSE US stocks late-morning

Wall Strebounds

from selloffas crude easesNEW YORK: Wall Streetrebounded on Friday after aweek-long sell-off as oil pricesstabilised from recent highs.The Nasdaq Composite jumpedmore than 1 percent led bysemiconductor issues. Brentcrude futures fell slightly to$111 a barrel, backing off highsafter a source said Saudi Arabiaraised its output. The futurestouched a two-and-half-yearhigh of $119.79 on Thursday.

The CBOE Volatility IndexVIX, Wall Street's so-calledfear gauge, also fell 10.5 percent to 19.05, falling below 20after three days of sharp gains,as stock prices gained ground.

The market showed signs ofrecovery on Thursday after-noon, trimming early losses toclose well off lows. Butinvestors still expect a correc-tion as steep as 10 per cent aftera six-month rally.

"We got a little bit oversold ina very short period of time thisweek so it's normal to get thiskind of a rebound," said JamesDailey, portfolio manager ofTEAM Asset Strategy Fund inHarrisburg, Pennsylvania.

"The market is likely tobounce a little more, but not toomuch since there is still more tothe downside after such astrong rally and ongoinggeopolitical concerns."

The Dow Jones industrialaverage was up 58.09 points, or0.48 per cent, at 12,126.59. TheStandard & Poor's 500 Indexwas up 10.31 points, or 0.79per cent, at 1,316.41. TheNasdaq Composite Index wasup 31.55 points, or 1.15 percent, at 2,769.45. Global mar-kets have been pressured thisweek by worries the turmoil inLibya could spread to othermajor oil-producing countries,causing energy prices to spikeat the expense of a fragile glob-al economic recovery.

The Dow is off 2.1 per centso far on the week and the S&P500 is off 2 per cent. In compa-ny news, Boeing Co rose 3 percent to $72.85 after the plane-maker said late Thursday itwon a $30 billion contract tobuild 179 US Air Force refuel-ing planes. Financial stocks ledgains on the S&P 500 with thesector up 1.4 per cent. Bank ofAmerica Corp gained 2.2 percent to $14.27 and Wells Fargo& Co rose 3.9 per cent to 32.66.

FBR Capital Markets said theUS Federal Reserve may allowbanks that have repaid bailoutfunds to return as much as 50per cent of their earnings toshareholders. Reuters

HONG KONG/SHANG-HAI: Hong Kong stocksgained for the first sessionin four days on Friday, withinvestors scouting for bar-gains, but heavy selling inprevious sessions saw theindex fall 2.5 per cent onthe week. Stocks ended flatin China. Gains in bankingshares such as ShenzhenDevelopment Bank, whichadvanced on strong earn-ings, offset by weakness ingold miners.

The benchmark Hang SengIndex closed up 1.8 per centat 23,012.37 in solid vol-ume, after having fallen tonear a five-month closinglow on Thursday. The ChinaEnterprises Index of toplocally listed mainlandstocks rose 1.8 per cent. Butcaution over oil pricevolatility and continued tur-moil in the Middle East willkeep investors on edge, ana-

lysts said. "I think the mar-ket had overreacted toomuch," said Peter Lai, direc-tor at DBS Vickers, but hecautioned that there werestill uncertainties and vari-ables in the market. "It (trad-ing) will be news driven andvery sentiment oriented," hesaid.

Financials gave thebiggest boost to the index,with HSBC up 2.2 per cent.Insurers got a lift after AIA,Asia's No. 3 insurer, beatforecasts with a 54 per centprofit jump, prompting itsshares to surge 5.7 percent.China Life Insurancegained 1.1 per cent. "Fundmanagers at this momentare buying very conserva-tively," said Steve Cheng,associate director atShenyin Wanguo in HongKong. "Investors will go forsomething very boring butsolid like China Mobile,

which is good in cash flowbut not good in terms ofgrowth," he said.

Most analysts said thebenchmark index was likelyto move between 2,800-2,900 points in the nearterm and hover around thestrong resistance level ofthe five-day moving aver-age, now at 2,882 points.

Shenzhen DevelopmentBank rose 2.2 per cent afterit said its net profit rose 25per cent in 2010 to hit 6.3billion yuan ($958 million).Analysts said investorswere cautious on what kindof economic policy meas-ures could be unveiled inChina's annual parliamentsession, which starts onMarch 3. Almost all the 16banks listed on theShanghai and Shenzhenmarkets were up, except forChina Minsheng Bank as ithalted trading. Reuters

HK gains on bargainhunting, China stocks flat

LONDON: Britain's leadingshare index bounced higheron Friday in a shortenedtrading session after aseverely delayed open,which the London StockExchange said was causedby a problem with marketdata.

At the close, the FTSE 100was up 81.22 points, or 1.4per cent at 6,001.20, withtrading having begun at1215 GMT.

"Even without that inter-ruption equities have had amuch firmer tone today, withthe FTSE pushing backabove 6,000," said MichaelHewson, market analyst atCMC Markets.

Miners provided the mainsupport for the blue chips,rallying after recent sharpfalls as concerns eased aboutthe impact of unrest in NorthAfrica and the Middle East.Platinum miner Lonminstood out, up 4.5 per cent.

Oil prices retreated toaround $111 a barrel, havinghit highs of nearly $120 onThursday, as a senior indus-try official said top exporterSaudi Arabia had increasedoutput to make up for anyshortages as a result of a dis-ruption to oil suppliescaused by the political tur-moil in Libya.

Banks were higher, recov-ering some of the sharp loss-es sustained earlier in theweek, with global lender

HSBC up 2.4 per cent aheadof results due on Monday.

However Lloyds BankingGroup fell 4.5 per cent afterits results included a $4 bil-lion pound hit from baddebts in Ireland and it saidits margins would notimprove this year.

US blue chips were 0.4 percent higher by London'sclose supported by a jump inthe final February readingfor the University ofMichigan consumer senti-ment index to 77.5, its high-est level since January 2008.

There was little reaction torevisions for fourth-quartergrowth data in both Britainand the United States.

British fourth-quarter 2010GDP contracted by 0.6 percent, faster than previouslythought, with analysts hav-ing expected an unchangedreading of down 0.5 percent.

The U.S. economy grew atan annualised real rate of 2.8per cent in the final quarterof 2010, revised downwardfrom an earlier forecast of3.2 per cent, the CommerceDepartment said.

Chip designer ARMHoldings was the top FTSE100 riser, up 6.0 per cent,with traders citing sectorconsolidation hopes as wellas the impact of a BofAMerrill Lynch upgrade to"neutral" from "underper-form". Reuters

FTSE bounce inshortened session

MUMBAI: Indian sharesgained 0.4 per cent on Friday,snapping a three-day losingstreak, helped by firmer Asianand European peers and a fallin oil prices. But, the bench-mark index closed 2.8 per centlower on the week, after post-ing its biggest one-day slide in16 months on Thursday,spooked by a jump in worldoil prices.

"The fall in oil price prompt-ed the market bounce todayand other regions like Europeand Asia were stable as well,pushing the Sensex into posi-tive territory," GajendraNagpal, CEO of UniconFinancial said.

India imports about 80 percent of the oil it consumesand the global price spiralcould add to New Delhi'swoes of tackling high foodinflation.

The government is expectedto boost spending on socialprogrammes in a populistbudget on Monday, even asIndia is threatened with apotentially ballooning subsidybill for food and fuel.

"There was a cheer up ini-tially as oil prices fell, but theLibya overhang is still there.

The problem is not solved yetand there is concern about itspreading to other countries,"said Neeraj Dewan, director ofQuantum Securities.

The 30-share BSE indexrose 68.50 points to 17700.91,with 13 components advanc-ing.

Financials, which had fallensharply on Thursday amidworries inflation pressureswould trigger more rateincreases, led the gains. Toplender State Bank of India rose2.1 per cent and rival ICICIBank firmed 3.5 per cent.

The main index was down13.7 per cent year-to-date,with foreign funds withdraw-ing $1.6 billion this year untilFebruary 23.

Auto shares were down onfears the annual budget mayincrease taxes on the sector,with leading car maker MarutiSuzuki down 0.2 per cent andutility vehicle and tractormaker Mahindra & Mahindradown 3.4 per cent.

Volumes stood at 267.6 mil-lion shares, with losers out-pacing gainers in the ratio of1.3:1. The 50-share NSE indexclosed 0.78 per cent higher at5303.55 points. Reuters

Indian sharessnap 3-day fall

Nikkei risesas oil retreatsTOKYO: Japan's Nikkei aver-age rose on Friday for the firsttime in four days, as a sharp pull-back in oil prices calmed con-cerns that a recent surge couldderail the global recovery andnudged investors back towardsriskier assets.

Despite this week's weakness,market players said bulls werewaiting to buy on dips as the fac-tors that fuelled a 14 per centrally by Tokyo's lagging stockmarket since November excessliquidity and stronger corporateearnings - remain intact.

"Foreign investors are buyingback shares.... but it's still earlydays and we need to wait to seewhat happens in Libya over theweekend to be able to saywhether or not the correction isalready over," said ToshiyukiKanayama, a market analyst atMonex Inc.

Brent crude oil sank to around$113 a barrel from 2-½ yearhighs near $120, dragged downby an unsubstantiated rumourthat Libyan Leader MuammarGaddafi had been shot and SaudiArabia's assurances it can count-er Libyan supply disruptions.

"Markets will remain jitteryabout North Africa for some timeyet, but it seems as if more andmore players look at the unrest asan opportunity to buy sharescheaply," said Hiroaki Osakabe,a fund manager at ChibaginAsset Management.

The Nikkei added 0.7 per cent,or 74.05 points, to 10,526.76, ledby blue-chip exporters as the yenstabilised below three-weekhighs hit on Thursday. For theweek, it lost some 300 points, or2.9 per cent despite climbing to a9-½ month high on Monday. Thebroader Topix rose 0.8 per cent to941.93.

Continued worries about fur-ther contagion to bigger oilexporters such as Saudi Arabiawere expected to keep theNikkei under pressure in thenear term. And others noteddomestic institutional investorsare likely to lock in profitsbefore the end of the fiscal yearin March.

WORRY AND

OPPORTUNITYToyota Motor Corp rose 2.2

per cent to 3,755 yen in heavyvolume after Credit Suisseupgraded it to "outperform" from"neutral" and raised its targetprice to 4,520 yen, citing theability to continue cutting costs,according to a report obtained byReuters. The upgrade offset newsthat Toyota was recalling nearly2.2 million more vehicles for adefect that could cause gas ped-als to stick.

Advancing shares numbered1,178, while declining shareswere 356. Volume was slightlylower, with 2.14 billion shareschanging hands on the Tokyostock exchange's main board.This week's average daily vol-ume was 2.37 billion, slightlyhigher than the last week'saverage daily volume of 2.26billion. Reuters

Saturday, February 26, 20116

Volume 156,838,881

Value 5,840,248,769

Trades 64,519

Advanced 42

Decline 246

Unchanged 75

Total 363

Current 7,802.17

High 8,037.77

Low 7,722.39

Change i213.75

Current 11,223.52

High 11,572.93

Low 11,100.67

Change i315.74

Current 10,756.83

High 11,081.61

Low 10,611.22

Change i306.17

Market KSE 100 Index All Share Index KSE 30 Index

Current 18,267.02

High 18,705.82

Low 18,009.99

Change i438.80

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Dec 31, 2009

Lotte Pakistan PTA Ltd

LOTPTA closed down -0.99 at 14.08. Volume was 120 per cent above

average and Bollinger Bands were 3 per cent wider than normal. The

company's profit after taxation stood at Rs4.527 billion which translates

into an Earning Per Share of Rs2.99 for the year ended CY10.

LOTPTA is currently 30.7 per cent above its 200-day moving average and

is displaying a downward trend. Volatility is relatively normal as compared

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

tors reflect volume flowing into and out of LOTPTA at a relatively equal

pace. Trend forecasting oscillators are currently bearish on LOTPTA.

RSI (14-day) 33.55 Total Assets (Rs in mn) 18,976.36

MA (10-day) 15.56 Total Equity (Rs in mn) 7,536.40

MA (100-day) 12.86 Revenue (Rs in mn) 38,552.26

MA (200-day) 10.83 Interest Expense 307.33

1st Support 13.76 Profit after Taxation 3,383.27

2nd Support 13.38 EPS 09 (Rs) 2.234

1st Resistance 14.83 Book value / share (Rs) 4.98

2nd Resistance 15.52 PE 10 E (x) 4.71

Pivot 14.45 PBV (x) 2.83

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

DSIL closed down -0.19 at 1.32. Volume was 60 per cent above average

and Bollinger Bands were 36 per cent wider than normal. The company's

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

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

DSIL is currently 32.5 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 very strong flows of volume out of DSIL (bearish).

Trend forecasting oscillators are currently bearish on DSIL.

RSI (14-day) 32.82 Total Assets (Rs in mn) 840.05

MA (10-day) 1.53 Total Equity (Rs in mn) (309.63)

MA (100-day) 1.77 Revenue (Rs in mn) 913.02

MA (200-day) 1.96 Interest Expense 88.07

1st Support 1.18 Loss after Taxation (23.38)

2nd Support 0.98 EPS 10 (Rs) (0.390)

1st Resistance 1.60 Book value / share (Rs) (5.16)

2nd Resistance 1.82 PE 11 E (x) -

Pivot 1.40 PBV (x) (0.26)

D. S. Industries Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

DFML closed down -0.11 at 1.58. Volume was 62 per cent below aver-

age (consolidating) and Bollinger Bands were 26 per cent wider than

normal. The company's loss after taxation stood at Rs41.81 million

which translates into a Loss Per Share of Rs0.47 for the 1st quarter of

current fiscal year (1QFY11).

DFML is currently 11.5 per cent below its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

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

tors reflect moderate flows of volume out of DFML (mildly bearish). Trend

forecasting oscillators are currently bearish on DFML. Momentum oscilla-

tor is currently indicating that DFML is currently in an oversold condition.

RSI (14-day) 24.92 Total Assets (Rs in mn) 4,204.55

MA (10-day) 1.81 Total Equity (Rs in mn) (747.01)

MA (100-day) 1.85 Revenue (Rs in mn) 1,025.34

MA (200-day) 1.79 Interest Expense 8.92

1st Support 1.45 Loss after Taxation (437.50)

2nd Support 1.30 EPS 10 (Rs) (4.917)

1st Resistance 1.80 Book value / share (Rs) (8.40)

2nd Resistance 2.00 PE 11 E (x) -

Pivot 1.65 PBV (x) (0.19)

Dewan Farooque Motors Limited

Technical AnalysisFundamental Highlights

As on Jun 30, 2010

MLCF closed down -0.10 at 2.20. Volume was 51 per cent above averageand Bollinger Bands were 71 per cent wider than normal. The company'sloss after taxation stood at Rs1.114 billion which translates into a Loss PerShare of Rs2.40 for the half year of current fiscal year (1HFY11).MLCF is currently 28.5 per cent below its 200-day moving average and isdisplaying a downward trend. Volatility is extremely high when comparedto the average volatility over the last 10 trading sessions. Volume indica-tors reflect moderate flows of volume out of MLCF (mildly bearish). Trendforecasting oscillators are currently bearish on MLCF. Momentum oscilla-tor is currently indicating that MLCF is currently in an oversold condition.

RSI (14-day) 18.74 Total Assets (Rs in mn) 26,094.94

MA (10-day) 2.45 Total Equity (Rs in mn) 4,134.21

MA (100-day) 2.81 Revenue (Rs in mn) 13,630.51

MA (200-day) 3.08 Interest Expense 2,059.48

1st Support 2.17 Loss after Taxation (2,583.96)

2nd Support 2.10 EPS 10 (Rs) (6.941)

1st Resistance 2.27 Book value / share (Rs) 11.11

2nd Resistance 2.30 PE 11 E (x) -

Pivot 2.20 PBV (x) 0.20

Maple Leaf Cement Factory Ltd

OIL AND GAS

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,454.84 1,464.27 1,388.92 1,409.92 -44.92 -3.09

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

8,140,137 - - 65,194.15 mn 1,080,816.93 mn 1,500.44

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

10.12 3.29 32.54 55.94 5.53 1,409.92

Attock Petroleum XD 691 5.95 346.15 346.11 328.85 329.15 -17.00 691721 401.00 316.81 300 20B115.00 -

Attock Refinery 853 4.01 103.69 104.74 98.51 98.54 -5.15 589825 146.90 98.51 - - - -

BYCO Petroleum 3921 - 8.83 8.89 8.20 8.31 -0.52 674084 12.24 8.20 - - - -

Mari Gas Company 735 7.27 110.20 104.69 104.69 104.69 -5.51 5842 141.65 104.69 31 - 23.43 -

National Refinery 800 5.39 261.55 261.80 254.00 259.96 -1.59 106219 335.00 251.99 200 - - -

Oil & Gas Development 43009 10.32 158.08 159.70 151.00 152.60 -5.48 547737 185.00 151.00 55 - 15.00 -

Pak Petroleum SPOT 11950 7.08 200.10 200.99 190.10 193.64 -6.46 1497842 229.80 190.10 90 20B 50.00 -

Pak Oilfields XD 2365 6.50 291.67 292.25 277.09 281.89 -9.78 4314573 341.50 266.50 255 -100.00 -

Pak Refinery Limited 350 - 88.87 89.00 84.43 84.46 -4.41 49082 122.22 84.43 - - - -

P.S.OSPOT 1715 4.61 273.63 275.40 265.00 272.27 -1.36 286936 317.79 265.00 80 - 50.00 -

Shell Gas LPG 226 - 27.99 27.01 26.60 26.64 -1.35 4585 39.89 26.60 - - - -

Shell Pakistan 685 9.93 196.66 200.00 186.83 193.67 -2.99 45775 222.00 186.83 40 - - -

Paid up Last 60 days 2010 2011

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

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

PERSONAL GOODS

Performance of SR Personal Goods Index

Open High Low Close Change % Change

978.37 983.63 952.84 962.69 -15.68 -1.60

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

14,411,363 - - 47,070.70 mn 127,942.66 mn 1,004.09

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

6.87 0.59 8.64 16.68 2.43 962.69

AL-Qadir Textile 76 - 8.87 7.87 7.87 7.87 -1.00 1000 9.00 4.05 10 - - -

Al-Qaim Textile 75 - 1.50 2.49 0.50 2.49 0.99 57000 2.49 0.50 - - - -

Amtex Limited 2594 - 2.87 3.07 2.35 2.51 -0.36 4387845 4.85 2.35 30 - - -

Artistic Denim 840 7.19 20.47 20.00 19.60 20.00 -0.47 4049 24.59 19.20 20 - - -

Azam Textile 133 0.28 2.02 2.42 2.00 2.00 -0.02 3001 3.00 1.32 7.5 - - -

Azgard Nine 4493 - 9.15 9.21 8.15 8.17 -0.98 5601351 12.84 8.15 - - - -

Babri Cotton 33 0.45 11.18 11.45 10.90 10.99 -0.19 2943 14.00 8.10 - 15B - -

Bannu Woolen XD 76 0.46 14.00 13.51 13.00 13.00 -1.00 57050 15.10 12.60 20 - - -

Bata (Pak) 76 4.40 533.30 550.00 506.64 507.31-25.99 923 705.00 506.64 280 - - -

Bilal Fibres 141 0.72 0.95 1.69 0.95 0.95 0.00 401 2.45 0.95 - - - -

Blessed Tex Mills 64 0.78 63.43 60.31 60.30 60.30 -3.13 697 63.70 46.00 50 - - -

Chakwal Spinning 400 0.66 1.25 2.20 0.85 1.50 0.25 6042 2.20 0.80 5 - - -

Chenab Limited 1150 - 2.50 2.64 2.26 2.32 -0.18 17607 3.76 2.26 - - - -

Colony Mills Ltd 2442 3.30 2.13 2.19 2.11 2.11 -0.02 11802 2.97 2.06 - - - -

Crescent Textile 492 2.86 16.57 15.95 15.57 15.57 -1.00 3243 23.99 15.10 15 - - -

D S Ind Ltd 600 - 1.51 1.62 1.20 1.32 -0.19 224081 2.10 1.20 - - - -

Dawood Lawrencepur 514 49.00 43.84 44.00 41.65 41.65 -2.19 7336 48.29 35.00 5 - - -

Ellcot Spinning 110 0.54 24.73 25.95 24.01 24.01 -0.72 5018 25.95 18.90 35 - - -

Gadoon Textile XD 234 0.70 74.00 75.99 70.30 71.01 -2.99 6109 77.40 47.75 70 - - -

Gul Ahmed Textile 635 2.47 35.23 34.30 34.00 35.23 0.00 200 35.23 24.00 12.5 - - -

Gulshan Spinning 222 0.87 7.80 7.25 7.00 7.14 -0.66 44400 8.70 6.30 10 20B - -

Hafiz Textile 12 8.70 19.05 18.10 18.10 18.10 -0.95 1500 19.05 17.00 - - - -

Hira Textile Mills Ltd. 716 0.77 3.69 4.00 3.50 3.84 0.15 97804 4.47 3.31 10 - - -

Ibrahim Fibres 3105 3.28 47.66 45.50 45.28 45.28 -2.38 14604 55.00 37.01 20 - - -

Ideal Spinning 99 0.82 8.96 9.96 7.96 8.00 -0.96 1005 10.90 3.00 - - - -

Idrees Textile 180 3.91 3.68 3.70 3.60 3.60 -0.08 32010 3.90 2.70 10 - - -

Indus Dyeing 181 2.36 280.25 290.00 266.24 273.91 -6.34 1631 350.15 188.01 50 - - -

Khalid Siraj 107 0.18 1.14 1.17 0.71 0.95 -0.19 6801 1.29 0.25 - - - -

Kohinoor Ind 303 - 1.41 1.44 1.30 1.33 -0.08 10617 2.00 0.75 - - - -

Kohinoor Spinning 1300 0.36 1.00 1.00 1.00 1.00 0.00 15004 1.74 0.30 5 - - -

Kohinoor Textile 1455 8.19 4.70 4.98 4.11 4.75 0.05 14230 5.95 4.11 - - - -

Liberty Mills 226 3.52 67.00 67.00 67.00 67.00 0.00 200 72.95 56.50 30 - - -

Mehmood Textile 150 1.02 57.88 54.99 54.99 57.88 0.00 175 70.30 53.68 60 - - -

Mohd Farooq 189 - 0.88 0.61 0.61 0.61 -0.27 2000 2.08 0.60 - - - -

Mukhtar Textile 145 - 0.73 0.75 0.38 0.42 -0.31 1731 0.88 0.13 - - - -

Nishat (Chunian) 1614 1.95 24.04 24.00 22.84 23.46 -0.58 1814135 28.04 21.15 15 - - -

Nishat Mills 3516 5.19 59.04 59.88 57.20 58.50 -0.54 1425851 71.89 57.20 25 45R - -

Pak Synthetic 560 4.22 13.00 13.24 12.50 12.50 -0.50 25500 14.45 6.75 - - - -

Paramount Spinning 174 0.80 11.76 11.00 11.00 11.00 -0.76 25000 12.75 8.50 10 10B - -

Premium Textile 62 0.55 28.80 30.00 27.36 28.80 0.00 204 34.40 25.00 50 - - -

Prosperity 185 1.08 14.50 14.30 13.80 13.80 -0.70 1500 15.50 13.05 30 - - -

Ravi Textile 250 - 1.02 1.10 0.91 1.01 -0.01 143846 1.98 0.65 - - - -

Reliance Weaving 308 0.69 9.89 10.45 9.25 9.88 -0.01 1568 11.39 8.50 25SD - - -

Rupali Poly 341 3.53 39.53 40.39 37.56 37.99 -1.54 10405 42.70 35.00 40 - - -

Saif Textile 264 0.43 5.74 6.00 5.38 5.40 -0.34 32006 6.35 3.90 - - - -

Samin Textile 267 4.11 5.52 5.75 4.56 5.75 0.23 30635 7.00 4.55 - 100R - -

Sana Ind 55 2.95 41.10 42.89 39.05 39.05 -2.05 13210 49.66 37.00 60 - - -

Sargoda Spinning 312 0.97 3.23 3.70 3.05 3.23 0.00 155 4.45 1.55 5 - - -

Service Ind 120 6.44 196.13 203.00 187.05 187.99 -8.14 1915 276.50 187.05 - - - -

Shadman Cot XD 176 2.90 16.85 17.68 15.85 15.90 -0.95 1820 17.68 7.00 - - - -

Shahpur Textile 140 0.51 0.27 0.95 0.22 0.37 0.10 56295 0.95 0.17 - - - -

Shahtaj Textile 97 1.26 21.01 20.80 19.96 20.01 -1.00 82100 22.05 17.35 45 - - -

Suraj Cotton 180 0.80 37.65 36.00 35.77 35.78 -1.87 9382 41.95 33.00 50 - - -

Tata Textile 173 0.50 41.25 39.30 39.25 39.25 -2.00 1200 44.10 31.52 25 - - -

Thal Limited 307 5.24 109.50 109.00 104.03 105.68 -3.82 26588 132.00 101.01 80 20B - -

Treet Corp 418 5.70 48.83 49.00 46.39 46.39 -2.44 30973 63.30 46.39 - - - -

Zil Limited 53 5.01 72.07 71.00 68.47 68.47 -3.60 35321 87.90 50.00 35 - - -

Paid up Last 60 days 2010 2011

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

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

HOUSEHOLD GOODS

Performance of SR Household Goods Index

Open High Low Close Change % Change

1,028.45 1,041.33 970.32 985.26 -43.19 -4.20

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

167,062 - - 3,763.71 mn 4,879.25 mn 1,043.37

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

2.49 0.26 10.64 6.27 2.52 985.26

Gauhar Engineering Ltd 22 - 0.70 1.70 0.50 1.40 0.70 4500 1.70 0.45 - - - -

Pak Elektron 1219 3.07 13.05 13.20 12.07 12.20 -0.85 138535 15.88 12.07 - 10B - -

Tariq Glass Ind 231 2.03 17.60 18.49 16.60 17.00 -0.60 23935 24.00 16.00 17.5 - - 200R

Paid up Last 60 days 2010 2011

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

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

FOOD PRODUCERS

Performance of SR Food Producers Index

Open High Low Close Change % Change

1,912.38 1,924.00 1,884.11 1,907.54 -4.85 -0.25

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

1,429,342 - - 11,335.33 mn 278,335.25 mn 1,943.83

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

47.07 14.26 30.30 30.57 0.65 1,902.97

Chashma Sugar XD 287 3.52 9.00 8.75 8.75 9.00 0.00 250 13.90 8.70 10 - - -

Colony Sugar Mills 990 7.33 3.00 2.94 2.60 2.93 -0.07 1202 5.70 2.40 - - - -

Dewan Sugar 365 - 3.15 3.19 2.80 3.04 -0.11 22962 5.59 2.50 - - - -

Faran Sugar XD 217 1.54 18.00 19.00 18.10 19.00 1.00 386018 21.73 17.25 25 - - -

Habib Sugar 750 8.19 21.09 21.16 20.25 20.64 -0.45 90239 36.50 20.25 25 25B - -

Habib-ADM Ltd 200 7.05 11.98 11.56 11.56 11.56 -0.42 500 12.95 11.50 40 - - -

Ismail Ind 505 21.05 81.81 85.90 77.72 85.90 4.09 620 85.90 68.60 17.5 110R - -

J D W Sugar 539 1.23 70.23 71.00 69.50 69.50 -0.73 1557 92.50 68.00 7010B 12.5R - -

Kohinoor Sugar 109 - 3.61 3.41 3.05 3.40 -0.21 43501 6.14 2.45 - - - -

Mirza Sugar XD 141 - 3.17 3.07 3.00 3.17 0.00 191 7.18 2.65 10 - - -

Mithchells Fruit XD 50 8.07 72.41 68.79 68.79 68.79 -3.62 624 89.90 66.13 40 - - -

National Foods 414 9.96 57.00 57.20 55.00 56.95 -0.05 10205 75.50 42.30 12 - - -

Noon Pakistan 48 6.39 24.48 23.26 23.26 23.26 -1.22 625 27.24 21.88 12 - - -

Noon Sugar 165 1.13 11.00 11.00 10.50 10.50 -0.50 3420 14.45 9.00 - - - -

Pangrio Sugar XD 109 - 3.87 3.99 3.00 3.25 -0.62 2098 6.99 3.00 10 - - -

Premier Sugar XD 38 - 39.48 41.44 37.51 38.01 -1.47 2002 53.81 37.51 10 - - -

S S Oil 57 0.22 2.60 3.60 3.10 3.60 1.00 29000 3.60 2.50 - - - -

Sanghar Sugar XD 119 2.18 11.88 11.90 11.00 11.88 0.00 200 15.01 11.00 15 - - -

Shahmurad Sugar 211 2.77 8.99 8.64 8.00 8.10 -0.89 133243 13.50 8.00 10 - - -

Shakarganj Mills 695 0.35 5.30 6.00 4.50 4.92 -0.38 697842 7.88 4.10 - - - -

Tandlianwala 1177 13.96 41.00 40.00 39.10 39.10 -1.90 806 44.06 34.00 - - - -

UniLever Pakistan 665 18.52 4794.85 4840.00 4555.11 4555.42 -239.43 303 5158.68 3916.04 492 - - -

Wazir Ali 80 - 5.90 6.16 6.11 6.16 0.26 2000 8.95 5.90 - - - -

Paid up Last 60 days 2010 2011

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

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

AUTOMOBILE AND PARTS

Performance of SR Automobile and Parts Index

Open High Low Close Change % Change

1,145.41 1,142.69 1,096.18 1,121.70 -23.70 -2.07

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

311,243 - - 6,768.53 mn 41,530.24 mn 1,202.64

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

3.93 1.00 25.35 20.42 5.20 1,121.70

Agriautos Ind 144 4.52 69.07 69.00 67.01 69.00 -0.07 3467 82.63 66.45 90 - - -

Atlas Battery 101 4.78 185.55 188.00 180.00 180.05 -5.50 5497 205.00 159.00 100 20B - -

Atlas Engineering Ltd 247 22.22 36.59 36.00 34.77 36.00 -0.59 1600 43.26 15.00 - - - -

Atlas Honda 626 8.78 133.12 132.00 126.47 126.47 -6.65 1577 143.80 104.52 - - - -

Dewan Motors 890 - 1.69 1.85 1.50 1.58 -0.11 225281 2.89 1.40 - - - -

Exide (PAK) 56 4.53 185.03 193.00 176.30 185.05 0.02 15095 217.44 172.12 60 - - -

General Tyre 598 4.37 22.99 23.80 21.85 22.00 -0.99 22996 26.74 21.00 20 - - -

Ghandhara Nissan 450 - 3.40 3.60 3.25 3.55 0.15 7163 5.36 3.25 - - - -

Honda Atlas Cars 1428 - 9.90 10.00 9.60 9.74 -0.16 16751 12.87 9.60 - - - -

Indus Motors 786 10.40 246.50 242.80 234.20 240.29 -6.21 1117 309.73 234.20 150 - 50.00 -

Pak Suzuki 823 9.86 62.03 62.80 60.00 61.90 -0.13 10009 74.80 60.00 - - - -

Sazgar Engineering 150 3.78 21.54 21.99 20.50 20.95 -0.59 690 24.00 18.80 10 20B 10.00 -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL ENGINEERING

Performance of SR Industrial Engineering Index

Open High Low Close Change % Change

1,526.91 1,537.61 1,500.27 1,515.44 -11.47 -0.75

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

97,824 - - 1,336.62 mn 31,554.96 mn 1,526.91

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

7.59 2.89 38.02 131.49 17.32 1,474.83

AL-Ghazi Tractor 215 5.05 223.85 225.00 218.01 224.34 0.49 5044 244.95 213.50 400 - - -

Bolan Casting 104 4.32 43.68 43.65 43.00 43.00 -0.68 37169 48.63 42.90 25 10B - -

Dewan Auto Engineering 214 - 1.09 1.44 0.80 0.91 -0.18 5980 2.40 0.21 - - - -

Ghandhara Ind 213 7.65 8.99 9.60 8.46 8.72 -0.27 18006 13.50 8.46 - - - -

KSB Pumps 132 6.84 59.75 61.00 56.77 57.12 -2.63 1382 70.80 56.77 - - - -

Millat Tractors XD 366 7.57 495.02 498.80 487.01 491.49 -3.53 30237 568.40 466.27 650 25B325.00 -

Paid up Last 60 days 2010 2011

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

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

GENERAL INDUSTRIALS

Performance of SR General Industrials Index

Open High Low Close Change % Change

895.22 903.75 863.83 888.57 -6.64 -0.74

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

221,280 - - 3,043.31 mn 33,927.35 mn 942.13

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

2.48 1.09 43.91 15.55 6.27 888.57

Cherat Papersack SPOT 115 2.36 54.05 53.70 51.35 51.37 -2.68 45853 83.23 51.35 20 25B - 50R

ECOPACK Ltd 230 - 2.40 2.65 2.13 2.50 0.10 49061 3.30 2.05 - - - -

Ghani Glass 1067 4.66 51.00 50.75 50.00 50.74 -0.26 2627 56.45 45.30 25 10B - -

MACPAC Films 389 - 4.00 4.00 3.90 3.97 -0.03 7620 4.19 2.50 - - - -

Merit Pack 47 16.80 29.00 30.40 28.20 30.24 1.24 49259 33.80 17.25 - - - -

Packages Ltd 844 - 110.01 113.50 106.50 108.00 -2.01 14405 143.00 103.52 32.5 - - -

Tri-Pack Films 300 8.04 131.28 133.90 127.50 132.59 1.31 52449 144.50 111.25 100 - - -

Paid up Last 60 days 2010 2011

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

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

CONSTRUCTION AND MATERIALS

Performance of SR Construction and Materials Index

Open High Low Close Change % Change

816.99 824.31 775.94 788.89 -28.10 -3.44

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

7,749,173 - - 54,792.74 mn 58,229.42 mn 870.75

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

5.32 0.38 7.10 19.04 3.58 788.89

Al-Abbas Cement 1828 - 2.59 3.50 2.25 2.60 0.01 6238 3.98 2.25 - 100R - -

Attock Cement 866 6.39 51.10 51.90 48.55 50.45 -0.65 15010 64.40 48.51 50 - - -

Berger Paints 182 - 15.82 16.49 14.82 15.25 -0.57 15592 24.16 14.82 - 122R - -

Buxly Paints 14 - 9.09 9.00 8.09 8.41 -0.68 881 15.50 7.91 - - - -

Cherat Cement 956 35.42 9.00 8.70 8.00 8.50 -0.50 19501 12.24 8.00 - - - -

Dadabhoy Cement 982 11.62 1.50 1.79 1.50 1.51 0.01 35704 2.49 1.50 - - - -

Dewan Cement 3891 - 1.64 1.76 1.50 1.65 0.01 331832 3.10 1.50 - - - -

DG Khan Cement Ltd 3651 9.39 22.29 22.29 21.20 21.68 -0.61 1948575 32.30 21.20 - 20R - 20R

EMCO Ind 350 2.45 2.36 3.27 2.05 2.06 -0.30 9597 4.00 2.05 - - - -

Fauji Cement 6933 5.56 4.16 4.30 3.97 4.00 -0.16 1985270 5.55 3.97 - - - 92R

Fecto Cement 502 1.99 7.54 7.25 6.55 6.58 -0.96 86500 8.00 6.55 - - - -

Flying Cement Ltd 1760 - 1.45 1.57 1.31 1.31 -0.14 55551 2.25 1.31 - - - -

Frontier Ceramics 77 - 1.46 2.46 0.71 2.00 0.54 1011 3.40 0.71 - - - -

Gharibwal Cement 4003 - 7.00 7.45 6.00 7.26 0.26 10054 9.19 4.70 - - - -

Haydery Const 32 - 0.55 0.66 0.50 0.55 0.00 405 0.99 0.25 - - - -

Kohat Cement 1288 - 5.46 5.55 5.12 5.32 -0.14 15407 7.44 5.11 - - - -

Lafarge Pakistan Cmt. 13126 - 2.82 2.85 2.65 2.74 -0.08 615227 3.88 2.65 - - - -

Lucky Cement 3234 5.42 63.15 63.15 60.01 60.32 -2.83 2258782 78.44 60.01 40 - - -

Maple Leaf Cement 5261 - 2.30 2.23 2.13 2.20 -0.10 331098 3.30 2.13 - - - -

Pioneer Cement 2228 - 5.67 5.97 5.30 5.31 -0.36 5814 7.65 5.30 - - - -

Shabbir Tiles 361 - 6.60 7.00 5.70 5.75 -0.85 1102 9.60 5.70 - - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL METALS AND MINING

Performance of SR Industrial Metals and Mining Index

Open High Low Close Change % Change

991.31 1,003.76 947.01 962.54 -28.76 -2.90

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

129,263 - - 3,596.11 mn 9,053.05 mn 1,023.56

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

2.96 0.98 33.10 30.91 10.44 962.54

Crescent Steel 565 2.91 28.33 28.50 26.92 27.82 -0.51 23561 31.00 24.01 30 - 10.00 -

Dost Steels Ltd 675 - 2.00 2.00 1.80 1.81 -0.19 43613 3.29 1.80 - - - -

Huffaz Pipe 555 8.35 13.75 13.50 13.25 13.36 -0.39 1603 16.51 13.00 - - - -

International Ind XD 1199 16.67 48.22 48.78 45.81 45.85 -2.37 34186 62.20 45.81 55 20B - -

Siddiqsons Tin 785 40.77 8.51 9.00 8.51 8.97 0.46 26300 10.70 8.51 7.5 - - -

Paid up Last 60 days 2010 2011

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

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

FORESTRY AND PAPER

Performance of SR Forestry & Paper Index

Open High Low Close Change % Change

1,008.76 996.99 969.41 970.91 -37.84 -3.75

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

74,855 - - 1,186.83 mn 2,679.07 mn 1,029.44

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

4.98 0.37 7.47 25.28 5.08 970.91

Century Paper 707 - 15.45 14.99 14.50 14.66 -0.79 68864 19.69 14.50 - - - -

Security Paper 411 6.25 36.17 36.00 35.00 35.00 -1.17 5990 47.70 35.00 50 - - -

Paid up Last 60 days 2010 2011

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

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

CHEMICALS

Performance of SR Chemicals Index

Open High Low Close Change % Change

1,559.25 1,564.52 1,496.56 1,517.51 -41.73 -2.68

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

53,183,148 - - 52,251.88 mn 330,886.94 mn 1,620.26

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

8.64 3.03 35.00 48.81 5.65 1,517.51

Biafo Ind 200 5.45 45.95 48.00 48.00 48.00 2.05 700 59.20 41.11 45 - 27.50 -

BOC (Pak) 250 8.83 90.52 94.99 86.00 86.00 -4.52 63264 103.94 83.12 60 - - -

Clariant Pak 273 6.90 196.84 196.55 191.00 192.68 -4.16 21319 213.30 155.00 135 25B - -

Dawood Hercules 1203 13.58 251.33 252.30 239.11 242.52 -8.81 267509 259.48 165.73 50 300B - -

Descon Chemical 1996 - 2.60 2.80 2.34 2.39 -0.21 58502 3.74 2.34 - - - -

Descon Oxychem Ltd. 1020 8.18 6.35 6.39 6.00 6.22 -0.13 505046 9.25 6.00 - - - -

Dewan Salman 3663 - 2.48 2.59 2.26 2.32 -0.16 750690 4.24 1.92 - - - -

Dynea Pak 94 5.91 11.00 10.70 10.70 11.00 0.00 160 11.98 10.06 15 - - -

Engro Corporation Ltd 3277 11.08 209.87 210.80 199.38 201.69 -8.18 2815572 222.80 183.25 60 20B - -

Engro Polymer 6635 - 12.10 12.16 11.75 11.94 -0.16 272435 15.87 11.75 - - - -

Fatima Fertilizer 22000 - 11.17 11.36 10.75 10.88 -0.29 3191746 12.64 9.16 - - - -

Fauji FertilizerXDXB 8482 6.76 112.09 112.10 108.00 109.82 -2.27 2345165 157.90 108.00 130 25B - -

Fauji Fert.Bin Qasim 9341 7.43 39.52 39.75 38.85 39.37 -0.15 6892917 43.99 34.40 52.5 - - -

Gatron Ind 384 2.91 45.42 47.00 43.15 45.42 0.00 102 52.00 39.00 20 - - -

Ghani Gases Ltd 725 9.65 11.56 12.25 10.80 11.00 -0.56 111220 13.07 10.80 - - - -

ICI Pakistan 1388 8.22 145.87 145.30 142.00 143.88 -1.99 207435 158.49 136.50 175 - - -

Ittehad Chemical 360 5.80 25.19 26.35 26.35 26.35 1.16 500 36.00 23.07 5 - 5 -

Leiner Gelatine 75 - 11.13 12.12 10.13 10.16 -0.97 3568 19.90 9.15 - - - -

Lotte Pakistan 15142 5.18 15.07 15.14 14.07 14.08 -0.99 37646236 16.80 12.10 5 - - -

Mandviwala 74 - 1.12 1.24 1.02 1.03 -0.09 16101 2.45 1.01 - - - -

Nimir Ind Chemical 1106 - 2.35 2.47 2.10 2.25 -0.10 1061798 3.17 1.48 - - - -

Shaffi Chemical 120 - 2.19 2.40 1.55 2.05 -0.14 13757 3.10 1.55 - - - -

Sitara Chem Ind 214 8.79 106.63 105.00 101.40 104.30 -2.33 12204 139.40 101.00 25 5B - -

Sitara Peroxide 551 5.15 12.80 12.69 11.81 11.94 -0.86 175429 14.54 11.81 - - - -

Paid up Last 60 days 2010 2011

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

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

PHARMA AND BIO TECH

Performance of SR Pharma and Bio Tech Index

Open High Low Close Change % Change

844.98 846.78 821.03 827.02 -17.96 -2.13

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

67,051 - - 3,904.20 mn 27,230.42 mn 896.72

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

5.85 1.30 22.31 44.54 7.61 827.02

Abbott (Lab) 979 6.54 82.72 82.80 78.59 78.63 -4.09 11971 112.50 78.59 50 - - -

Ferozsons (Lab) 250 5.95 90.70 90.10 88.00 88.01 -2.69 808 98.00 83.50 - 20B 12.50 -

GlaxoSmithKline 1707 12.41 68.76 69.50 68.00 69.02 0.26 20031 89.98 68.00 - - - -

Highnoon (Lab) 165 6.94 26.36 27.49 25.05 25.05 -1.31 16609 30.48 25.05 - - - -

IBL HealthCare Ltd 200 3.93 10.00 10.00 9.61 9.98 -0.02 13390 10.25 7.16 - - - -

Sanofi-Aventis 96 5.95 145.12 145.00 137.87 138.17 -6.95 1802 174.00 126.00 100 - - -

Searle Pak 306 5.26 62.43 61.20 59.81 60.22 -2.21 2440 69.00 58.50 30 - - -

Paid up Last 60 days 2010 2011

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

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

INDUSTRIAL TRANSPORTATION

Performance of SR Industrial Transportation Index

Open High Low Close Change % Change

674.82 701.15 645.83 670.66 -4.16 -0.62

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

186,028 - - 3,242.17 mn 11,577.49 mn 718.72

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

4.97 1.27 25.53 11.08 2.23 670.66

Pak Int Cont.Terminal 1092 6.31 66.14 68.99 63.00 65.62 -0.52 185621 76.65 63.00 40 - - -

PNSC 1321 8.90 32.04 32.89 31.11 32.04 0.00 407 39.45 31.00 15 - - -

Paid up Last 60 days 2010 2011

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

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

BOOK CLOSURES

Cherat Papersack 01-Mar 11-Mar 50(R) 21-Feb -Kohinoor Energy 02-Mar 08-Mar 10(I) 22-Feb -Pakistan State Oil 03-Mar 10-Mar 50(I) 23-Feb -Pakistan Petroleum 03-Mar 09-Mar 50(I) 23-Feb -Pakistan Petroleum (Pref) 03-Mar 09-Mar 30(I) - -Central Insurance # 03-Mar 10-Mar - - 10-MarColgate - Palmolive # 04-Mar 10-Mar - - 10-MarPicic Growth Fund 05-Mar 12-Mar 12.50(I) 25-Feb -Picic Invt Fund 05-Mar 12-Mar 7.5(I) 25-Feb -Picic Energy Fund 05-Mar 12-Mar 10(I) 25-Feb -Shabbir Tiles & Ceramics # 06-Mar 12-Mar - - 12-MarTariq Glass 07-Mar 13-Mar 200(R) 25-Feb -Bank Al-Habib 07-Mar 17-Mar 20(F),20(B) 25-Feb 17-MarHusein Industries # 07-Mar 12-Mar - - 12-MarCrescent Steel 09-Mar 15-Mar 10(I) 01-Mar -Allied Bank Ltd 10-Mar 16-Mar 20(F),10(B) 02-Mar 16-MarTri-Pack Films 10-Mar 18-Mar 100(F) 02-Mar 18-MarKot Addu Power 11-Mar 18-Mar 30(I) 03-Mar -Biafo Industries 12-Mar 18-Mar 15(Ii) 04-Mar -Fauji Fertiliser Bin Qasim 15-Mar 21-Mar 35(F) 07-Mar 21-MarAl-Noor Sugar Mills # 16-Mar 26-Mar - - 25-MarAl-Ghazi Tractors 16-Mar 24-Mar 250(F) 08-Mar 24-Mar

INDICATIONS

# Extraordinary General Meeting

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

OTHER SECTORS

Pakistan Cables 53.97 51.3 51.3 51.3 -2.67 5500

TRG Pakistan Ltd. 2.66 2.72 2.3 2.43 -0.23 3197255

Murree Brewery Co. 97 96.85 92.15 92.75 -4.25 2623

Shezan International 160.17 159 152.17 152.26 -7.91 11357

Lakson Tobacco 247.46 259 235.09 242.14 -5.32 197

Pak Tobacco 97.38 102.24 92.52 95.06 -2.32 548

Shifa Int.Hospitals 31.21 32 29.7 31.18 -0.03 3412

Media Times LtdXR 19.12 20 18.12 19.64 0.52 888

P.I.A.C.(A) 2.47 2.5 2.33 2.35 -0.12 464763

AKD Capital Limited 38.08 39.98 36.18 36.29 -1.79 1489

Pace (Pak) Ltd. 2.7 2.72 2.55 2.62 -0.08 734396

Netsol Technologies 21.42 21.69 20.45 20.52 -0.9 742147

Symbols Open High Low Close Change Vol

Saturday, February 26, 20117

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed down -315.74 points at 11,223.52. Volume was 25

per cent above average and Bollinger Bands were 67 per cent wider than

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

resistance level at 11,497.40 and 2nd resistance level at 11,771.30, while

Index will continue to find its 1st support level at 11,025.15 and 2nd sup-

port level at 10,826.80.

KSE 100 INDEX is currently 5.2 per cent above 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 indi-

cators reflect moderate flows of volume out of INDEX (mildly bearish). Trend

forecasting oscillators are currently bearish on INDEX. Momentum oscillator

is currently indicating that INDEX is currently in an oversold condition.

RSI (14-day) 21.14 Support 1 11,025.15

MA (5-day) 11,580.05 Support 2 10,826.80

MA (10-day) 11,797.09 Resistance 1 11,497.40

MA (100-day) 11,477.72 Resistance 2 11,771.30

MA (200-day) 10,677.51 Pivot 11,299.05

Technical Analysis Leverage Position

Fauji Fertiliser Bin Qasim Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFBL closed down -0.15 at 39.37. Volume was 18 per cent above average

and Bollinger Bands were 39 per cent narrower than normal.

FFBL is currently 24.1 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is relatively normal as compared to

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

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

Trend forecasting oscillators are currently bearish on FFBL.

*Invest Cap 39 Hold

AKD Securities Ltd 45.52 Accumulate

TFD Research 44.25 Positive

RSI (14-day) 40.30 Free Float Shares (mn) 326.94

MA (10-day) 40.49 Free Float Rs (mn) 12,871.57

MA (100-day) 35.67 ** NOI Rs (mn) 63.05

MA (200-day) 31.74 Mean 39.37

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

Technical Analysis Leverage Position

National Bank of Pakistan

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NBP closed down -2.47 at 67.01. Volume was 23 per cent above average

and Bollinger Bands were 94 per cent wider than normal.

NBP is currently 1.8 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 moderate flows of volume out of NBP (mildly bearish). Trend fore-

casting oscillators are currently bearish on NBP. Momentum oscillator is

currently indicating that NBP is currently in an oversold condition.

*Invest Cap 52.4 Sell

AKD Securities Ltd 75.5 Neutral

TFD Research 92.3 Positive

RSI (14-day) 22.66 Free Float Shares (mn) 318.50

MA (10-day) 72.08 Free Float Rs (mn) 21,342.54

MA (100-day) 70.74 ** NOI Rs (mn) 157.36

MA (200-day) 68.27 Mean 68.10

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

Technical Analysis Leverage Position

Pakistan Oilfields Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

POL closed down -9.78 at 281.89. Volume was 112 per cent above aver-

age and Bollinger Bands were 64 per cent wider than normal.

POL is currently 10.8 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

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

tors reflect very strong flows of volume out of POL (bearish). Trend fore-

casting oscillators are currently bearish on POL. Momentum oscillator is

currently indicating that POL is currently in an oversold condition.

*Invest Cap 360 Hold

AKD Securities Ltd 322.42 Neutral

TFD Research 381.35 Positive

RSI (14-day) 23.88 Free Float Shares (mn) 107.94

MA (10-day) 303.73 Free Float Rs (mn) 30,428.04

MA (100-day) 284.43 ** NOI Rs (mn) 797.46

MA (200-day) 254.46 Mean 285.73

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

Technical Analysis Leverage Position

Hub Power Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

HUBC closed down -0.24 at 36.96. Volume was 127 per cent above aver-

age and Bollinger Bands were 6 per cent wider than normal.

HUBC is currently 5.0 per cent above its 200-day moving average and is

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

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

strong flows of volume out of HUBC (bearish). Trend forecasting oscillators

are currently bearish on HUBC.

*Invest Cap 47 Buy

AKD Securities Ltd 42.1 Accumulate

TFD Research 50.3 Positive

RSI (14-day) 41.70 Free Float Shares (mn) 810.01

MA (10-day) 37.53 Free Float Rs (mn) 29,937.90

MA (100-day) 36.37 ** NOI Rs (mn) 3.73

MA (200-day) 35.19 Mean 36.82

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

Technical Analysis Leverage Position

Pakistan Telecommunication Co Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

PTC closed down -0.69 at 17.50. Volume was 53 per cent above average

and Bollinger Bands were 30 per cent wider than normal.

PTC is currently 8.1 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 moderate flows of volume out of PTC (mildly bearish). Trend fore-

casting oscillators are currently bearish on PTC.

*Invest Cap 25 Buy

AKD Securities Ltd 23.91 Buy

TFD Research 25.8 Positive

RSI (14-day) 31.34 Free Float Shares (mn) 585.02

MA (10-day) 18.38 Free Float Rs (mn) 10,237.91

MA (100-day) 19.15 ** NOI Rs (mn) 8.88

MA (200-day) 19.06 Mean 17.80

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

Technical Analysis Leverage Position

Engro Corporation

Brokerage House Fair Value Rs Recommendations

Technical Outlook

ENGRO closed down -8.18 at 201.69. Volume was 26 per cent above

average and Bollinger Bands were 13 per cent wider than normal.

ENGRO is currently 7.9 per cent above its 200-day moving average and is

displaying a downward trend. Volatility is extremely high when compared

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

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

forecasting oscillators are currently bearish on ENGRO.

*Invest Cap 210 Hold

AKD Securities Ltd 229.9 Accumulate

TFD Research 245.4 Positive

RSI (14-day) 36.60 Free Float Shares (mn) 147.48

MA (10-day) 212.83 Free Float Rs (mn) 29,745.56

MA (100-day) 193.75 ** NOI Rs (mn) 195.33

MA (200-day) 187.09 Mean 205.44

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

Technical Analysis Leverage Position

Fauji Fertiliser Co

Brokerage House Fair Value Rs Recommendations

Technical Outlook

FFC closed down -2.27 at 109.82. Volume was 25 per cent above average

and Bollinger Bands were 285 per cent wider than normal.

FFC is currently 4.8 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 FFC at a relatively equal pace. Trend

forecasting oscillators are currently bearish on FFC. Momentum oscillator

is currently indicating that FFC is currently in an oversold condition.

*Invest Cap 149 Hold

AKD Securities Ltd 145 Neutral

TFD Research 139.5 Positive

RSI (14-day) 20.59 Free Float Shares (mn) 466.49

MA (10-day) 135.96 Free Float Rs (mn) 51,229.64

MA (100-day) 123.93 ** NOI Rs (mn) 90.17

MA (200-day) 115.36 Mean 110.50

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

EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index

Open High Low Close Change % Change

1,400.60 1,385.37 1,332.05 1,363.90 -36.70 -2.62

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

2,249,388 - - 29,771.58 mn 18,269.00 mn 1,418.22

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

18.66 0.41 2.21 104.74 8.72 1,363.90

1st Fid Leasing 264 - 1.31 1.70 1.22 1.22 -0.09 1003 2.34 1.16 - - - -

AL-Meezan Mutual F. 1375 3.80 9.69 9.58 9.42 9.42 -0.27 33173 11.50 6.80 18.5 - 5.00 -

Atlas Fund of Funds 525 1.36 5.90 5.11 5.11 5.11 -0.79 300999 6.40 3.65 2.2 - - -

B R R Guardian Mod. 780 1.49 1.28 1.50 1.12 1.37 0.09 40180 2.79 1.12 0 - - -

Crescent St Modaraba 200 1.16 0.51 0.73 0.50 0.51 0.00 30227 0.87 0.16 1.2 - - -

Elite Cap Modaraba 113 3.70 3.03 3.20 3.00 3.03 0.00 181 3.49 2.12 5 - - -

Equity Modaraba 524 1.16 1.70 1.90 1.62 1.90 0.20 24011 2.98 1.30 - - - -

First Capital Mutual Fund 300 6.13 2.96 2.45 2.45 2.45 -0.51 500 5.44 2.45 - - - -

Golden Arrow 760 1.36 3.18 3.18 2.96 2.96 -0.22 193451 3.89 2.90 17 - - -

H B L Modaraba 397 3.54 7.27 7.42 7.21 7.22 -0.05 23551 9.00 6.40 11 - - -

Habib Modaraba 1008 6.03 7.10 7.20 7.00 7.00 -0.10 9260 7.30 6.50 21 - - -

JS Growth Fund 3180 1.94 5.35 5.11 4.76 5.05 -0.30 218679 6.17 4.25 5 - - -

JS Value Fund 1186 1.08 4.81 4.90 4.46 4.49 -0.32 70023 6.61 4.15 10 - - -

Meezan Balanced Fund 1200 2.37 8.32 8.26 8.12 8.25 -0.07 191982 10.24 5.92 15.5 - - -

Mod Al-Mali 184 12.90 1.32 1.74 1.29 1.29 -0.03 6003 2.50 1.00 - - - -

Nat Bank Modaraba 250 5.55 6.00 6.00 5.99 5.99 -0.01 1402 7.74 5.52 10 - - -

Paramount Modaraba 59 7.46 9.55 9.80 9.00 9.55 0.00 407 9.90 8.21 18 - - -

PICIC Energy Fund 1000 3.19 7.70 7.75 7.36 7.71 0.01 570148 8.83 6.00 10 - 10.00 -

PICIC Growth Fund 2835 3.87 13.73 13.40 12.80 12.93 -0.80 460382 16.49 10.52 20 - 12.50 -

PICIC Inv Fund 2841 3.26 6.11 6.05 5.70 6.00 -0.11 43273 7.95 5.16 10 - 7.50 -

Prud Modaraba 1st 872 1.75 1.00 1.10 0.91 0.91 -0.09 4011 1.20 0.81 3 - - -

Stand Chart Modaraba 454 4.85 9.55 9.51 9.50 9.50 -0.05 25500 10.63 8.51 17 - - -

U D L Modaraba 264 1.74 6.18 6.12 6.12 6.12 -0.06 1000 6.55 5.51 12.5 - - -

Paid up Last 60 days 2010 2011

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

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

FINANCIAL SERVICES

Performance of SR Financial Services Index

Open High Low Close Change % Change

333.87 340.93 306.94 317.42 -16.45 -4.93

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

5,757,869 - - 30,336.44 mn 15,137.96 mn 378.29

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

11.42 0.21 0.91 99.56 4.39 317.42

AMZ Ventures 225 1.11 0.55 0.58 0.46 0.49 -0.06 99743 0.95 0.33 - - - -

Arif Habib Investments 360 3.57 21.00 21.50 20.40 21.00 0.00 58704 24.85 16.80 - 20B - -

Arif Habib Limited 450 15.83 20.32 19.51 19.31 19.31 -1.01 82653 28.00 19.31 - 20B - -

Arif Habib Corp 3750 3.49 19.89 19.72 18.89 18.97 -0.92 13056002 30.20 18.89 30 - - -

Dawood Cap Mangt. XB 150 1.21 1.30 1.90 1.25 1.26 -0.04 5002 2.10 1.15 - - - -

Dawood Equities 250 450.00 1.60 2.57 1.06 1.35 -0.25 1108 2.75 1.06 - - - -

Escorts Bank 441 - 2.01 2.99 2.44 2.01 0.00 201 3.80 1.55 - - - -

IGI Investment Bank 2121 9.18 2.05 2.34 2.00 2.02 -0.03 14756 3.90 2.00 - - - -

Invest Bank 2849 - 0.50 0.58 0.31 0.47 -0.03 13906 1.09 0.31 - - - -

Ist Cap Securities 3166 - 3.04 3.24 2.95 3.01 -0.03 85524 3.95 2.95 - 10B - -

Ist Dawood Bank 626 0.51 1.47 1.45 1.29 1.44 -0.03 75107 2.14 1.05 - - - -

Jah Siddiq Co 7633 - 8.86 8.90 8.01 8.26 -0.60 4042646 13.39 8.01 10 - - -

JOV and CO 508 672.50 3.13 3.27 2.60 2.69 -0.44 307263 4.49 2.58 - - - -

JS Global Cap 500 6.12 22.41 22.00 21.29 21.29 -1.12 14828 31.50 21.29 - - - -

JS Investment 1000 - 5.55 5.67 5.10 5.19 -0.36 49283 7.40 5.10 - - - -

KASB Securities 1000 - 4.12 4.39 3.75 4.01 -0.11 11412 5.43 3.75 - - - -

Orix Leasing 821 4.34 5.30 5.90 5.30 5.90 0.60 3030 7.19 5.25 - - - -

Pervez Ahmed Sec 775 - 1.70 1.73 1.21 1.34 -0.36 874501 2.50 1.21 - - - -

Sec Inv Bank 514 12.12 3.03 2.70 2.27 3.03 0.00 194 4.99 2.26 - - - -

Sigma Leasing 300 10.05 9.50 9.25 9.25 9.25 -0.25 500 11.00 9.25 - - - -

Stand Chart Leasing 978 3.05 2.27 2.69 2.25 2.26 -0.01 17497 3.00 1.67 - - - -

Paid up Last 60 days 2010 2011

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

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

LIFE INSURANCE

Performance of SR Life Insurance Index

Open High Low Close Change % Change

698.33 690.95 663.99 673.47 -24.85 -3.56

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

40,747 - - 2,290.72 mn 8,005.70 mn 713.88

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

5.20 2.98 3.85 355.53 4.59 673.47

EFU Life Assurance 850 29.28 54.01 53.50 51.31 51.53 -2.48 34453 86.95 51.31 - - - -

New Jub Life Insurance 627 18.76 45.00 43.90 42.75 43.90 -1.10 6242 49.31 39.05 15 - - -

Paid up Last 60 days 2010 2011

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

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

BANKS

Performance of SR Banks Index

Open High Low Close Change % Change

1,057.11 1,065.14 1,007.16 1,025.52 -31.59 -2.99

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

22,252,493 - - 257,548.02 mn 625,218.77 mn 1,103.92

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

7.35 1.03 13.94 40.49 5.51 1,025.52

Allied Bank Limited 7821 5.85 64.55 64.00 61.33 62.05 -2.50 149727 74.00 60.70 40 10B - -

Askari Bank 6427 6.14 13.03 13.15 12.55 12.89 -0.14 950778 19.25 12.55 - 10B - -

Bank Alfalah 13492 11.55 9.44 9.45 8.90 9.01 -0.43 1285128 11.99 8.90 - - - -

Bank AL-Habib 7322 7.13 35.88 35.60 34.25 35.08 -0.80 398211 39.49 33.50 20 20B - -

Bank Of Khyber 5004 5.37 4.04 4.10 4.00 4.03 -0.01 113438 4.70 3.75 - - - -

Bank Of Punjab 5288 - 6.79 6.86 6.45 6.70 -0.09 3290540 10.38 6.40 - - - -

BankIslami Pak 5280 807.50 3.44 3.45 3.18 3.23 -0.21 211256 4.50 3.00 - - - -

Faysal Bank 7327 3.53 11.29 11.36 10.69 10.94 -0.35 72963 16.47 10.69 - 20B - -

Habib Bank Ltd 10019 7.29 118.79 120.80 115.85 116.74 -2.05 143070 128.97 106.00 65 10B - -

Habib Metropolitan Bank 8732 6.93 23.64 24.69 22.50 22.65 -0.99 34078 29.28 22.50 - - - -

JS Bank Ltd 8150 - 2.61 2.75 2.51 2.66 0.05 1686389 2.92 2.30 - 66R - -

KASB Bank Ltd 9509 - 1.47 1.50 1.42 1.44 -0.03 137119 2.80 1.40 - - - -

MCB Bank Ltd 7602 9.01 206.19 206.70 195.89 200.08 -6.11 1584615 250.48 195.89 85 10B - -

Meezan Bank 6983 7.33 17.97 17.75 17.25 17.30 -0.67 63723 20.30 15.10 - 15B - -

Mybank Ltd 5304 - 2.14 2.60 2.00 2.02 -0.12 115474 3.40 2.00 - - - -

National Bank 13455 5.85 69.48 69.90 66.01 67.01 -2.47 5444880 80.61 66.01 - - - -

NIB Bank 40437 - 2.50 2.65 2.32 2.37 -0.13 1054410 3.35 2.32 - - - -

Samba Bank 14335 - 1.67 1.80 1.50 1.68 0.01 140575 2.17 1.50 -63.46R - -

Silkbank Ltd 26716 - 2.19 2.26 2.06 2.11 -0.08 3514960 3.05 2.06 - - - -

Soneri Bank 6023 25.67 5.83 5.95 5.31 5.39 -0.44 53632 8.48 5.31 - - - -

Stand Chart Bank 38716 10.31 6.65 6.76 6.28 6.70 0.05 13518 9.04 6.28 - - - -

Summit Bank Ltd 7251 - 3.04 3.50 2.88 2.95 -0.09 83436 4.63 2.88 - - - -

United Bank Ltd 12242 6.76 58.95 59.27 56.89 57.51 -1.44 1794008 70.65 56.89 50 - - -

Paid up Last 60 days 2010 2011

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

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

NON LIFE INSURANCE

Performance of SR Non Life Insurance Index

Open High Low Close Change % Change

712.74 712.20 681.05 689.92 -22.82 -3.20

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

1,022,831 - - 11,111.34 mn 44,172.19 mn 752.40

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

11.56 0.60 5.20 79.54 6.88 689.92

Adamjee Insurance 1237 21.27 75.72 75.00 71.94 73.39 -2.33 433039 96.40 71.94 10 - - -

Paid up Last 60 days 2010 2011

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

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

GAS WATER AND MULTIUTILITIES

Performance of SR Gas Water and Multiutilities Index

Open High Low Close Change % Change

1,451.59 1,490.34 1,391.27 1,448.40 -3.19 -0.22

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

1,346,580 - - 12,202.80 mn 32,423.52 mn 1,573.98

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

9.09 1.04 11.41 66.79 7.35 1,446.61

Sui North Gas 5491 12.08 21.49 21.75 20.42 20.53 -0.96 254309 29.39 20.42 20 - - -Sui South Gas 8390 3.80 24.33 25.30 23.50 25.21 0.88 1092271 27.90 19.95 15 25B - -

Paid up Last 60 days 2010 2011

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

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

ELECTRICITY

Performance of SR Electricity Index

Open High Low Close Change % Change

1,273.72 1,277.40 1,225.11 1,254.79 -18.93 -1.49

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

10,600,911 - - 95,369.29 mn 102,815.00 mn 1,310.27

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

13.24 1.24 9.35 104.13 7.86 1,254.79

Genertech 198 - 0.69 0.78 0.65 0.65 -0.04 26347 1.18 0.56 - - - -Hub Power 11572 6.77 37.20 37.20 35.90 36.96 -0.24 3999911 41.20 35.90 50 - 25.00 -Japan Power 1560 - 1.35 1.46 1.25 1.30 -0.05 313701 2.10 1.25 - - - -KESC 7932 - 2.61 2.65 2.35 2.38 -0.23 1834970 3.55 2.25 - 7.8R - -Kohinoor EnergySPOT 1695 7.61 17.81 18.50 17.50 17.51 -0.30 669 22.85 17.15 15 - 10.00 -Kohinoor Power 126 2.38 3.95 4.50 3.90 3.90 -0.05 13975 5.39 3.85 - - - -Kot Addu Power 8803 5.35 42.44 42.30 41.01 41.70 -0.74 502620 45.85 39.50 50 - 30.00 -Nishat Chunian Power Ltd 3673 3.15 14.85 15.00 14.05 14.35 -0.50 1672417 18.01 14.05 - - - -Nishat Power Ltd 3541 2.21 15.50 15.74 14.85 15.12 -0.38 1713263 18.70 14.85 - - - -Sitara Energy Ltd 191 5.12 17.00 17.49 16.80 16.80 -0.20 3500 19.35 16.40 20 - - -Southern Electric 1367 - 1.57 1.64 1.44 1.48 -0.09 508620 2.80 1.44 - - - -Tri-star Power XD 150 - 0.65 0.80 0.55 0.61 -0.04 10917 1.49 0.55 - - - -

Paid up Last 60 days 2010 2011

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

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

FIXED LINE TELECOMMUNICATION

Performance of SR Fixed Line Telecommunication Index

Open High Low Close Change % Change

1,060.37 1,061.34 1,005.76 1,021.12 -39.24 -3.70

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

4,994,116 - - 50,077.79 mn 70,775.25 mn 1,113.30

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

5.55 0.71 12.84 62.56 11.27 1,021.12

Pak Datacom 78 7.23 69.98 66.49 66.49 66.49 -3.49 1620 82.90 66.49 80 - 15.00 -Pakistan Telecomm Co A 37740 11.67 18.19 18.20 17.30 17.50 -0.69 3116306 20.65 17.30 17.5 - - -Telecard 3000 0.51 1.77 1.79 1.60 1.73 -0.04 550165 2.67 1.60 1 - - -WorldCall Tele 8606 - 2.31 2.35 2.15 2.25 -0.06 1326025 3.45 2.15 - - - -Wateen Telecom Ltd 6175 - 3.01 3.12 2.80 2.84 -0.17 169431 4.65 2.80 - - - -

Paid up Last 60 days 2010 2011

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

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

Ask Gen Insurance 255 6.47 10.10 10.94 9.95 10.68 0.58 4100 12.00 9.51 - 25R - -

Atlas Insurance 369 5.83 37.00 36.77 35.47 36.67 -0.33 4700 40.00 35.47 - - - -

Central Insurance XB 279 8.10 75.05 77.50 71.30 71.31 -3.74 2010 83.00 58.11 10 10B - -

Century Insurance 457 5.71 9.99 10.14 9.01 9.14 -0.85 11751 11.99 9.01 - - - -

EFU General Insurance 1250 - 36.20 35.68 34.39 34.40 -1.80 23966 47.50 34.39 - - - -

Habib Insurance 400 2.86 12.66 12.77 11.72 12.00 -0.66 3382 15.50 11.72 - - - -

IGI Insurance 718 8.01 96.57 96.89 93.00 93.23 -3.34 9690 102.44 86.10 30 55B - -

New Jub Insurance 791 10.20 60.00 60.00 58.00 58.03 -1.97 10250 61.80 56.00 35 25B - -

Pak Reinsurance 3000 36.00 14.59 14.60 13.80 14.04 -0.55 491772 19.40 13.80 - - - -

PICIC Ins Ltd 350 67.86 8.95 9.50 8.50 9.50 0.55 17318 10.75 6.01 - - - -

Premier Insurance 303 5.65 10.55 10.99 10.40 10.45 -0.10 2001 12.93 10.01 - - - -

Reliance Insurance XB 252 3.80 6.65 6.25 6.20 6.20 -0.45 3645 7.15 6.20 - - - -

Shaheen Insurance 200 - 10.43 11.43 9.50 10.55 0.12 4113 14.20 9.41 - - - 25R

United Insurance XB 400 1.97 6.20 6.30 6.00 6.01 -0.19 993 7.80 5.12 - - - -

UPTO 100 VOLUME

SSIC 6.40 7.40 6.25 6.40 0.00 100

YOUW 1.41 1.40 1.09 1.41 0.00 100

DMTM 4.04 3.75 3.75 4.04 0.00 99

FECS 35.16 34.16 34.16 35.16 0.00 93

AASM 24.52 25.74 25.74 24.52 0.00 79

RMPL 2565.42 2693.60 2440.00 2622.72 57.30 52

ALICO 15.50 16.00 14.71 15.50 0.00 51

NESTLE 3434.49 3490.00 3335.05 3407.50 -26.99 44

GRAYS 47.82 46.20 46.20 47.82 0.00 42

FZCM 59.75 59.00 59.00 59.75 0.00 38

AGL 23.83 24.45 22.65 23.83 0.00 15

SMCPL 6.50 6.90 5.81 6.50 0.00 15

HUSI 5.51 5.10 5.00 5.51 0.00 12

UPFL 1323.66 1323.00 1257.48 1323.66 0.00 12

ZTL 3.50 3.99 3.97 3.50 0.00 12

TRPOL 0.87 0.85 0.50 0.87 0.00 11

ALNRS 45.74 43.47 43.47 45.74 0.00 10

BGL 2.55 2.83 2.83 2.55 0.00 10

COLG 859.90 900.00 817.00 859.90 0.00 10

FTSM 1.26 1.00 1.00 1.26 0.00 10

GAMON 1.17 1.50 1.50 1.17 0.00 10

MIRKS 50.49 51.99 51.00 50.49 0.00 10

MRNS 55.75 53.00 53.00 55.75 0.00 10

RUBY 7.97 8.90 8.90 7.97 0.00 10

SAPT 109.00 103.55 103.55 109.00 0.00 10

SFAT 5.50 6.26 6.26 5.50 0.00 10

SFL 102.87 108.00 108.00 102.87 0.00 10

TSMF 0.99 1.27 1.27 0.99 0.00 10

UBDL 28.92 30.36 27.48 28.92 0.00 10

CJPL 0.90 1.43 0.55 0.90 0.00 8

TRIBL 1.31 2.00 0.61 1.31 0.00 7

TRSM 2.00 2.49 2.49 2.00 0.00 7

ADAMS 14.50 14.20 14.20 14.50 0.00 6

BAPL 7.09 8.09 7.00 7.09 0.00 6

SIEM 963.08 950.00 915.00 963.08 0.00 6

ADOS 15.14 16.00 16.00 15.14 0.00 5

FCONM 1.20 1.99 1.99 1.20 0.00 5

LEUL 2.21 1.26 1.26 2.21 0.00 5

SLYT 4.25 4.50 4.50 4.25 0.00 5

JOPP 11.70 11.54 10.90 11.54 -0.16 4

NBF 4.55 4.00 4.00 4.55 0.00 4

PAKMI 0.90 1.09 1.05 0.90 0.00 4

DADX 19.96 20.94 19.00 19.96 0.00 2

IFSL 6.22 5.65 5.65 6.22 0.00 2

SPLC 0.69 0.55 0.55 0.69 0.00 2

BROT 0.35 0.67 0.67 0.35 0.00 1

CSIL 4.24 4.84 4.84 4.24 0.00 1

EWLA 1.95 2.00 2.00 1.95 0.00 1

FDMF 2.04 2.29 2.29 2.04 0.00 1

FIBLM 1.62 1.50 1.50 1.62 0.00 1

FZTM 409.93 415.00 415.00 409.93 0.00 1

GFIL 6.80 6.01 6.01 6.80 0.00 1

HAJT 0.70 1.10 1.10 0.70 0.00 1

HINO 128.00 121.60 121.60 128.00 0.00 1

HMIM 0.95 1.05 1.05 0.95 0.00 1

NMBL 1.41 1.48 1.48 1.41 0.00 1

PPP 38.97 40.50 40.50 38.97 0.00 1

QUET 46.18 43.90 43.90 46.18 0.00 1

SGPL 0.80 1.80 1.80 0.80 0.00 1

SING 22.55 22.23 21.42 22.23 -0.31 1

Symbols Open High Low Close Change Vol

FUTURE CONTRACTS

UBL-MAR 60.01 59.03 57.50 58.00 -2.01 1719000

UBL-FEB 59.01 58.00 56.50 56.88 -2.13 1698000

POL-MAR 293.03 291.01 278.38 282.59 -10.44 964000

ANL-MAR 9.20 9.25 8.20 8.23 -0.97 953500

LUCK-MAR 63.71 62.96 60.60 60.60 -3.11 849500

LUCK-FEB 63.64 62.70 60.46 60.50 -3.14 834500

NBP-MAR 70.08 70.00 66.58 67.46 -2.62 754500

FFBL-MAR 36.79 37.99 35.85 36.63 -0.16 583500

NML-MAR 59.29 59.25 57.80 58.92 -0.37 504000

FFC-MAR 112.70 112.00 107.15 109.63 -3.07 473500

NML-FEB 59.07 59.00 57.30 58.50 -0.57 453000

NBP-FEB 69.46 69.80 65.99 66.94 -2.52 442500

ANL-FEB 9.07 9.10 8.08 8.14 -0.93 427500

ENGRO-MAR 175.41 175.25 166.66 168.77 -6.64 395500

FFBL-FEB 39.60 39.70 38.52 39.12 -0.48 394500

POL-FEBB 292.10 291.00 277.50 282.23 -9.87 384000

ENGRO-FEB 210.10 209.89 199.60 202.02 -8.08 360500

DGKC-MAR 22.22 22.20 21.40 21.83 -0.39 350500

DGKC-FEB 22.28 21.89 21.17 21.68 -0.60 274000

MCB-MAR 186.50 186.20 177.18 178.94 -7.56 226500

MCB-FEB 205.98 206.00 195.69 199.80 -6.18 186500

PSO-MAR 270.34 271.00 263.05 269.49 -0.85 184500

FFC-FEBB 111.89 110.50 107.70 109.65 -2.24 182000

PPL-FEB 199.90 198.00 190.00 193.61 -6.29 145000

PSO-FEB 272.92 272.85 264.50 272.37 -0.55 139000

PPL-MAR 196.23 195.00 187.50 191.18 -5.05 127000

OGDC-MAR 155.23 155.88 149.00 150.95 -4.28 92500

OGDC-FEB 156.72 156.30 151.00 153.00 -3.72 89500

BOP-MAR 6.86 6.97 6.52 6.85 -0.01 87000

BOP-FEB 6.75 6.66 6.40 6.65 -0.10 65500

HUBC-FEB 37.50 36.80 36.00 36.80 -0.70 58000

AICL-FEB 75.87 74.90 72.08 73.97 -1.90 54000

PTC-MAR 18.30 18.10 17.45 17.58 -0.72 52000

AICL-MAR 75.54 74.10 71.80 73.42 -2.12 51000

PTC-FEB 18.38 18.02 17.40 17.45 -0.93 32500

HUBC-MAR 38.25 38.25 38.25 38.25 0.00 20000

NCL-MAR 23.58 23.20 22.45 23.19 -0.39 15500

NETSOL-MAR 21.70 21.50 20.65 20.69 -1.01 15500

NCL-FEB 23.40 23.00 22.70 22.70 -0.70 8500

NETSOL-FEB 22.22 21.11 21.11 21.11 -1.11 1000

Symbols Open High Low Close Change Vol

ZERO VOLUME

AHTM 16.32 16.00 16.00 16.00 -0.32 0.00

HWQS 16.24 16.00 16.00 16.00 -0.24 0.00

MOON 16.49 15.49 15.49 15.49 -1.00 0.00

SASML 8.50 8.45 8.45 8.45 -0.05 0.00

TREI 1.30 1.30 1.30 1.30 0.00 0.00

Symbols Open High Low Close Change Vol

Al-Abbas Cement 31.83 2.05 1.55 3.30 4.05 2.80

Allied Bank Limited 24.17 60.90 59.80 63.60 65.15 62.45

Attock Cement 25.92 48.70 46.95 52.05 53.65 50.30

Arif Habib Corp 18.67 18.65 18.35 19.50 20.00 19.20

Arif Habib Limited 18.63 19.25 19.20 19.45 19.60 19.40

Adamjee Insurance 21.91 71.90 70.40 74.95 76.50 73.45

Askari Bank 17.88 12.55 12.25 13.15 13.45 12.85

Azgard Nine 26.46 7.80 7.45 8.85 9.55 8.50

Attock Petroleum 27.35 323.30 317.45 340.55 351.95 334.70

Attock Refinery 21.99 96.45 94.35 102.70 106.85 100.60

Bank Al-Falah 19.60 8.80 8.55 9.35 9.65 9.10

BankIslami Pak 28.88 3.15 3.00 3.40 3.55 3.30

Bank.Of.Punjab 24.12 6.50 6.25 6.90 7.10 6.65

Dewan Cement 30.73 1.50 1.40 1.80 1.90 1.65

D.G.K.Cement 14.46 21.15 20.65 22.25 22.80 21.70

Dewan Salman 28.80 2.20 2.05 2.50 2.70 2.40

Dost Steels Ltd 22.84 1.75 1.65 1.95 2.05 1.85

EFU General Insurance 24.29 33.95 33.55 35.25 36.10 34.80

EFU Life Assurance 15.99 50.70 49.90 52.90 54.30 52.10

Engro Chemical 37.12 197.10 192.55 208.55 215.40 203.95

Faysal Bank 15.46 10.65 10.35 11.30 11.65 11.00

Fauji Cement 18.47 3.90 3.75 4.20 4.40 4.10

Fauji Fert Bin 41.02 38.90 38.40 39.80 40.20 39.30

Fauji Fertilizer 20.94 107.85 105.85 111.95 114.05 109.95

Habib Bank Ltd 35.11 114.80 112.85 119.75 122.75 117.80

Hub Power 41.85 36.20 35.40 37.50 38.00 36.70

ICI Pakistan 44.62 142.15 140.45 145.45 147.05 143.75

Indus Motors 16.78 235.40 230.50 244.00 247.70 239.10

J.O.V.and CO 22.22 2.45 2.20 3.10 3.50 2.85

Japan Power 28.06 1.20 1.15 1.45 1.55 1.35

JS Bank Ltd 53.47 2.55 2.40 2.75 2.90 2.65

Jah Siddiq Co 44.21 7.90 7.50 8.75 9.30 8.40

Kot Addu Power 42.62 41.05 40.40 42.35 42.95 41.65

K.E.S.C 30.97 2.25 2.15 2.55 2.75 2.45

Lotte Pakistan 34.47 13.70 13.35 14.80 15.50 14.45

Lucky Cement 20.77 59.15 58.00 62.30 64.30 61.15

MCB Bank Ltd 28.05 195.10 190.10 205.90 211.70 200.90

Maple Leaf Cement 17.91 2.15 2.10 2.25 2.30 2.20

National Bank 23.20 65.40 63.75 69.25 71.55 67.65

Nishat (Chunian) 41.33 22.85 22.25 24.00 24.60 23.45

Netsol Technologies 34.10 20.10 19.65 21.35 22.15 20.90

NIB Bank 27.54 2.25 2.10 2.60 2.80 2.45

Nimir Ind.Chemical 48.69 2.05 1.90 2.45 2.65 2.25

Nishat Mills 30.48 57.20 55.85 59.85 61.20 58.55

Oil & Gas Dev. XD 22.60 149.15 145.75 157.85 163.15 154.45

PACE (Pakistan) Ltd. 38.35 2.55 2.45 2.70 2.80 2.65

Pervez Ahmed Sec 23.91 1.15 0.90 1.65 1.95 1.45

P.I.A.C.(A) 42.22 2.30 2.20 2.45 2.55 2.40

Pioneer Cement 22.32 5.10 4.85 5.75 6.20 5.55

Pak Oilfields 24.47 275.25 268.60 290.40 298.90 283.75

Pak Petroleum 29.24 188.85 184.00 199.70 205.80 194.90

Pak Suzuki 35.42 60.35 58.75 63.15 64.35 61.55

P.S.O. XD 36.55 266.40 260.50 276.80 281.30 270.90

P.T.C.L.A 31.47 17.15 16.75 18.05 18.55 17.65

Shell Pakistan 28.44 187.00 180.35 200.15 206.65 193.50

Sui North Gas 19.83 20.05 19.55 21.40 22.25 20.90

Sitara Peroxide 30.16 11.60 11.25 12.50 13.05 12.15

Sui South Gas 57.12 24.05 22.85 25.85 26.45 24.65

Telecard 22.39 1.65 1.50 1.80 1.90 1.70

TRG Pakistan 20.36 2.25 2.05 2.65 2.90 2.50

United Bank Ltd 22.12 56.50 55.50 58.90 60.25 57.90

WorldCall Tele 30.31 2.15 2.05 2.35 2.45 2.25

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

First Tri-Star Modarba 26-Feb 3:00

Tri - Star Poly Ltd 26-Feb 3:30

Modaraba Al-Mali 26-Feb 11:00

Gulshan Spinning Mills Ltd 26-Feb 12:30

Paramount Spinning Mills Ltd 26-Feb 10:30

Macpac Films Ltd 26-Feb 11:00

Ghani Glass Ltd 26-Feb 11:00

Johnson & Phillips Pak Ltd 26-Feb 12:00

(Colony) Thal Textile Mills Ltd 26-Feb 10:00

Ayesha Textile Mills Ltd 26-Feb 11:00

Quetta Textile Mills Ltd 26-Feb 11:00

First Dawood Invest Bank Ltd 26-Feb 11:30

Leiner Pak Gelatine Ltd 26-Feb 9:30

Orix Leasing Pakistan Ltd 26-Feb 2:00

Southern Networks Ltd 26-Feb 4:00

Feroze 1888 Mills Ltd 26-Feb 5:00

Ghazi Fabrics International Ltd 26-Feb 10:00

Pakistan Engineering Co Ltd 26-Feb 11:00

Thatta Cement Company Ltd 26-Feb 11:00

Ali Asghar Textile Mills Ltd 26-Feb 12:00

BOARD MEETINGS

Company Date Time

Saturday, February 26, 2011 8

No bigbudgets

for Aamir

When you think aboutAamir Khan, bigbudgets naturally

come to mind. But, no morenow. The star is not gettingany lavish treatment in ReemaKagti's upcoming film whichwill be a thriller.

According to sources,"There will be no lavish budg-ets for this Aamir starrer. Thetrend so far has been thatwhichever movie Aamir hasacted in; the budgets havenever been a constraint. But,this time, the trend will getreversed. For the first timeAamir will be part of a filmthat will see no expensivebudgets."

This reversal trend is attrib-uted to many factors. Chiefamong them is the fact that bigbudget movies have miserablyfared at the box-office inrecent times. Now, a mid-budget movie with big stars isbecoming the safe bet for sur-vival in bollywood. ReemaKagti's film with Aamir willstrengthen this trend since forthe first time a bollywood big-gie will come with a budgetlimit.

Even his latest film DhobiGhat, which was directed bywife Kiran Rao, was a mediumbudget film.

Big plansahead for

OUATIM 2

It is now confirmed thatMilan Luthria would bedirecting Akshay Kumar in

the sequel to his 2010's suc-cessful film Once Upon ATime In Mumbaai. However,the director is in no hurry tobring the film on floors beforehe completes his another in-progress film - The DirtyPicture. In the times when cer-tain top directors don't shyaway from handling two (andin cases as many as threefilms) at a time, Milan wantsto concentrate on shooting onefilm at a time.

"Of course there would bepre-production activities onOUATIM 2 but I am not goingto rush into it's shooting till thework is over on The DirtyPicture", divulges Milan,"That film would be releasedin November this year. Beforethat though on Diwali, wewould launch the First Lookpromo of OUATIM 2 toannounce its kick start."

This would mean the secondlaunch for the Akshay Kumar

starrer after a recent awardsevent where the film wasannounced with much fanfareby Milan and Ekta Kapoor, thefilm's producer.

"That's right", Milan nods inagreement here, "The launchthat we had recently was forstage. Believe me; it was toughfor me to actually choreographone as I have never done any-thing on stage before.Nevertheless for the film'sshooting launch, we would becreating a special promo. OnceUpon A Time In Mumbaai 2would have an even biggercanvas and it is imperative thataudience sees what's in storefor it right at the time when thefilm goes on floors.

As per the current plans, thefilm is expected to release insummer 2012.

As the launching event ofthe Pakistan Week, thePakistan High

Commission arranged anevening of Mystical SufiQawwali Music performance bythe legendary Qawwali duoGhulam Fareed Ayaz and AbuMuhammad, at the Galadarihotel in Colombo.

The Chief Guest at the eventwas the Honourable First Ladyof Sri Lanka Madam ShiranthiRajapaksha,said a messagereceived on Wednesday fromSri Lankan capital.

The High Commissioner ofPakistan to Sri Lanka, MrsSeema Illahi Baloch, ManagingDirector Pakistan InternationalAirlines Nadeem Yousafzai,several senior Sri Lankan gov-ernment Ministers,Ambassadors and high profilepersonalities from all walks oflife attended the event.

While welcoming the guests,the High Commissioner saidthat the Pakistan Week will

unfold the colours of a culturewhich make Pakistan and itwould provide an opportunity tothe people of Sri Lanka to see,hear and feel the vibrancy of thereal Pakistan.

She further said that the tradi-tion of Qawwali is very specialbecause it helps us understandcompassion for human kindwhich is the essence of Islam. Itis embodied in the message ofthe Sufis and conveyed throughthe Qawwali in the sub-conti-nent, she added.

While highlighting the impor-tance of the message of Sufis inthe present context, she said thatit becomes even more signifi-cant in our countries bothPakistan and Sri Lanka wherewars, terrorism and natural dis-asters have snatched away bothlives and livelihoods of the peo-ple.

She added that in these tryingtimes, we yearn for peace in theoutside world and within our-selves; The Sufis show us the

path to that peace. The two well known,interna-

tionally acclaimed Qawwalisingers performed recitals fromthe works of famous Sufi saintssuch as Hazrat Amir Khusro,Lal Shahbaz Qalandar, BabaBulleh Shah, Hafiz Shirazi,Allama Iqbal, Jalal-ud-din Rumiand Imam Busairi.

Qawwali which is a tradition-al form of Islamic song thattraces back to 8th CenturyPersia. Today Qawwali isenjoyed by people of all faiths,bridging a social cohesionthrough devotional music.

Ghulam Fareed Ayaz and AbuMuhammad, have been per-forming professionally for thelast 30 years, representingPakistan throughout Europe,Asia, Middle East and Africa.These well versed musicians areveterans in classical musicscene including traditional ragaswhich they blend beautifullyinto their Qawwali performanc-es.

Lankans catchqawwali trance

ISLAMABAD: Model walking on the ramp during

musical night and fashion show organised by

CDA at Open Air Theater, Lok Virsa .-APP

ISLAMABAD: A model sporting Sindhi culture at a

musical night and fashion show organised by CDA at

Open Air Theater, Lok Virsa .-APP

Bollywood damselBipasha Basu landedherself in a big trouble

when she posted a picture oftwo children tying hershoelaces and tweeted, "I needto learn to tie shoe lacesASAP! Embarrassed that Ican't! No patience grrrrr!Promise I am not spoilt! Willlearn soon."

This news spread like a fireand people started accusing theactor of child labour. "Bipashashould be arrested for this act.Only then these film studioswill not do any child labour,"posted a follower. Anothertweet read, "Disgraceful Bips -cannot believe you are dumbenough to add this photo onTwitter!"

BipashaBips later deleted thepicture and justified the act bysaying, "Well the ppl helpingme in the pix r my friend n sis-ter, Who I help often with thesame! So am sorry if it hurtanyones sentiments! (sic)"

But her fans didn't buy this

explanation. In the deletedtweet she confessed she doesn'tknow how to tie laces and inher explanation she stated shedoes the same (tie laces) for thechildren in the pic.

Bipasha was in the capital foran event. When quizzed aboutthe twitter controversy, shestated, "I think you should readmy post on twitter. It's notchild labour, that's all I cansay."

Bipasha accusedof child labour

The much talked aboutwedding of the tennisace Mahesh Bhupati and

Bollywood actress Lara Duttasolemnized at the sunset venueof a heritage five-star resortnear Candolim beach.

Former Miss Universe Lara,32, wore a white Ellie Saabgown with jewelry in whitegold and diamonds whileMahesh, 36 was dressed inblack suit for the Christianstyle wedding.

Among the invited guestswere B-town celebrities RiteshDeshmukh, Sajid Khan,Bipasha Basu, PriyankaChopra, Cellina Jaitley, design-ers including WendellRodricks, Sheetal Malhar andfrom the sporting field RohanBopanna and Leander Paesalong with his wife Ria Pillaiblessed the newly wedded cou-ple

'The couple made sure thatthe wedding place locatedwithin the premise of TajAguada resort on the 16th cen-tury fort is beautifully decorat-ed,' sources close to the couplesaid.

After the wedding ceremony,the couple in their messagesaid, 'We had a memorabletime at the wedding. Lookingforward to the rest of our livestogether... We thank our fami-lies and all our friends for mak-

ing this weekend so special forus.'

The couple had legally regis-tered their marriage in aMumbai Court on Feb 17 afterwhich they flew down to Goa.

There was no confirmationwhether Bollywood kingShahrukh Khan could make itfor the star-studded wedding.His wife Gauri Khan wasreportedly present for the wed-ding.

Just like the sangeet ceremo-ny on Friday night, the wed-ding was also strictly invite-based. Goa's best cuisine wasserved to the guests for thetwo-day ceremony here.

The couple will fly off forhoneymoon to an undiscloseddestination.

Lara, Maheshwedding in Goa

Music maestro A.R.Rahman has baggedtwo nominations at

the 83rd Academy Awards forhis work in Danny Boyle's "127 Hours" and the film fratis hoping that the composertriumphs again at the galaevent Sunday.

His colleagues and friendswish him luck and are hopinghe brings the golden statuettehome again, having baggedtwo Oscars for the best origi-nal score and the song in 2009for rags-to-riches drama "Slumdog Millionaire". Thistime, Rahman has been nomi-nated for the original score of"127 Hours" as well as origi-nal song "If I Rise".

"I feel great. I feel wonder-ful because Rahman is oneperson who has made us soproud and I am really, reallyhappy. I wish him all thebest," said Rani Mukerji.

Actor-producer ArbaazKhan said: "That's a greatachievement. The last timewhen he won the Oscar, itlooked like one time dream. Iwish him all the best. He is atrue deserving candidate andpride of the country."

"He had to get the nomina-tions. He has already has twoto his credit. He will continuegetting them. He has alreadymade India proud and wouldcontinue doing so. My bestwishes are always with him,"said singer Udit Narayan.

Singer Kailash Kher said: "Icongratulate him and wishhim all the best. Every year heshould achieve more hon-ours."

"The whole country isproud of him. He is good, heis talented and I hope hedelivers time and again. I amvery happy. I wish him all thebest," actor Arshad Warsisaid.

Composer PritamChakraborty said: "I wish himluck. Anything you say abouthim is less. If you name a fewpride of our country, he is oneof them. I wish him all thebest."

"It's something to be proudof that an Indian has made agolden mark on the worldmap," director VishalBhardwaj said.

Bollywood wishesRahman luck for Oscars

DipannitaSharma inYash Rajs

next

Dipannita Sharma, whowas seen in films like16 December, Koi Aap

Sa and My Brother...Nikhil,will now be starring in YRF'snext film, Ladies V/S RickyBahl.

The actress will fall prey tothe flattery and guile of RickyBahl as he cons his waythrough life. Along withParineeti Chopra, Dipannitanow joins the lead pair,Ranveer Singh and AnushkaSharma, in director ManeeshSharma's rom-con, which startsshooting end-March.

Dipannita, a well knownartist, model, fashion and stylediva, will be playing the role ofa corporate no-nonsense execu-tive in the film.

Produced by Aditya Chopra,the movies is planned for a 9thDec 2011 release worldwide,the same weekend the refresh-ing Band Baaja Baaraatreleased.

BhindiBaazaar Incon April 15

Picture Thoughts

Productions maiden proj-

ect Bhindi Baazaar Inc

has finally set its release date.

The film is set to release on

April 15th; it will be a world-

wide release.

The film is starring award

winning actors or nominees

like Kay Kay Menon, Pawan

Malhotra, Dipti Naval,

Prashant Narayan, Shilpa

Shukla, Vedita Pratap Singh &

will be introducing Shweta

Verma, Gautam & Caterina

Lopez.

Directed by Ankush Bhatt &

produced by Karan Arora,

Bhindi Baazaar Inc revolves

around gangs of Mumbai who

have embraced pick pocketing

as an art and a means of earning

a livelihood is based on the

quest of a small time pickpock-

et Fateh and his ambitions to

become a local area don.

Larry Kinglaunchesone-man

comedy show

Larry King is getting histurn to do the talking.The veteran TV inter-

viewer, who left his "LarryKing Live" CNN show after 25years in December, is launch-ing a series of one man comedyshows in April about his lifeand work called "Larry King:Standing Up," producers saidon Tuesday.

King, 77, will give fans "ahilarious and insightful look" athis life both behind and in frontof the cameras. The one-night-only shows will cover his lifegrowing up as a street-smartkid in Brooklyn to tales fromhis career as the man who inter-viewed presidents, generals andcelebrities.

"Larry King's style and witwill give audiences an eveningto remember," producers BaseEntertainment and KarlEngemann said in a statement.

Audiences will also get thechance to ask King some ques-tions of their own on the tour,which starts April 14 inTorrington, Connecticut andwill play venues in AtlanticCity and Las Vegas with moredates to be announced later.

King stepped down from hisnightly CNN show amid fallingratings, saying he wanted tospend more time with his fami-ly.

His time slot on CNN wastaken by brash Briton PiersMorgan, who will interviewKing in a show to be broadcastlater this week.

King told the BBC last weekthat he thought Morgan was"good but not that dangerous".--

Hunt forBig Bs girlcontinues

It has been over 100 dayssince it was first announcedthat Amitabh Bachchan

would be acting in an officialremake of Oscar nominated

Belgian film Iedereen Beroemd(Everybody's Famous).However what kept thisRakeysh Omprakash Mehrafilm from moving ahead wasthe casting of another crucialcharacter in the film - a teenagegirl.

"The film is a heart warmingtale of a father and his daugh-ter. While Amitabh Bachchanhas been finalised to play thepart of a father who wants hisdaughter to become a famoussinger, the girl is yet to be cast,"informs a source who has beenfollowing the film's progress.

However as things standtoday, the girl is far away frombeing finalised which meansthat it would be some moretime before this yet untitledfilm goes on floors. Since thegirl's role is quite substantialand requires an actress of sub-stance, Mehra doesn't want torush up the process.

"Yes, we are still looking fora girl who would play MrBachchan's daughter. A mas-sive hunt for getting the rightpersonality is still on", saysMehra who would be workingwith Amitabh Bachchan for thesecond time after Aks, hisdebut directorial outing.

LONDON: Copper advanced onFriday as a fall in energy pricescalmed worries that inflationcould dent global growth,although caution over furtherMiddle East unrest capped gains.

Three-month copper on theLondon Metal Exchange closedat $9,750 a tonne, bouncing bymore than 2 per cent from $9,505at the close on Thursday.

The metal used in power andconstruction had touched $9,311,a near one-month low, in the pre-vious session.

"Focus now is on the MiddleEast," analyst Arne Rasmussen ofDanske Bank said.

"Definitely the last couple ofdays we've seen this fear that ris-ing oil prices would dampenglobal growth, but prices are a bitmore stable today, so optimism isreturning," he said.

"People are suddenly realisingcopper below $10,000 might be abargain."

The easing fears over energyprices offset data showing the USeconomy grew slower than ini-tially estimated in the fourthquarter.

However, news that US con-sumer sentiment rose to its high-

est in three years in Februaryboosted risk appetite and the dol-lar.

"Going into next week, we sus-pect that downward pressure on

oil markets will likely continue,particularly as investors start todiscount the likely fall of theLibyan leader," said MF Globalin a research note.

"This ... should provide a meas-ure of support to both the metalsand US equity markets, at leastuntil the next flashpoint appearson the radar."

Talk that Chinese market play-ers are holding high inventorieshas weakened the short-term out-look for copper.

Inventories of copper on theLondon Metal Exchange contin-

ued to climb, by 4,150 tonnes to416,825 tonnes, data released onFriday showed.

"Current on-warrant LMEstocks are now nearly 55,000above the levels seen in mid-January, with almost all of theincrease occurring in Asian ware-houses," said Standard Bank in anote. However, weekly Shanghaicopper stocks fell by 2,961tonnes, data showed today.Aluminium stocks fell 4,625tonnes to 4,610,875 but remainedwithin reach of a record high at4,640,750 tonnes hit in Januarylast year. Aluminium closed at$2,565 from $2,542.

Tin closed at $32,050 from$31,600, tracking back towardsrecord of $32,799 from Feb 15.

Zinc, used in galvanizing, was$2,491 from $2,473 at the closeon Thursday. Battery materiallead was at $2,515 from $2,500and nickel was at $28,150 from$27,505. -Reuters

Copper up as easing oilcalms inflation worries

9Saturday, February 26, 2011

POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1310 1250

December (3rd Wednesday) 1310 1255

January (3rd Wednesday) 1310 1260

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for February 24 2011

LME Official Prices, US$ per tonne for February 24 2011

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2355 2490.5 9439.5 2484.5 27675 31145 2425 2486

Cash seller 2365 2491 9440 2485 27680 31150 2426 2487

3-months buyer 2345 2519 9435 2478 27675 31195 2455 2501

3-months seller 2355 2520 9440 2480 27700 31200 2457 2506

15-months buyer 2305 2588 9365 2435 26665 30875 2502 2540

15-months seller 2315 2593 9375 2440 26765 30925 2507 2550

27-months buyer 2305 2633 9045 2388 25280 2500 2595

27-months seller 2315 2638 9055 2393 25380 2505 2605

LONDON METAL EXCHANGE (METALS)

LONDON: Oil retreated onFriday as a senior industry offi-cial said top exporter SaudiArabia had increased output tomake up for any shortages as aresult of a disruption to oil sup-plies from Libya.

ICE Brent crude futures fell 23cents at $111.13 a barrel by 1511GMT, slipping from $113.91earlier in the day. They touched atwo-and-half yearhigh of $119.79 onThursday.

US crude futuresfell 49 cents to$96.78, off from$99.20 earlier inthe day. They hit$103.41 onThursday, the highest sinceSeptember 2008.

Credit Agricole CIB globalanalyst Christophe Barret saidthe initial panic in the oil marketwas receding.

"Yesterday we had a very largeshock; it was the first time wehad real disruption to supply andreal disruption to exports. Butthis can be absorbed by regularmarket functioning, which iswhat is happening right now,"Barret said.

"At the end of the chain you

will have OPEC increasing pro-duction, but it's not economicalfor Italy to ask Saudi Arabiadirectly for more oil."

Saudi Arabia has quietlyincreased its production to morethan 9 million barrels per day(bpd), an increase of more than700,000 bpd, a senior industrysource familiar with Saudi pro-duction told Reuters on Friday.

"We have started producingover 9 million barrels per day.We have a lot of productioncapacity," the source said.

In terms of the volume, theincrease could compensate for atleast a part of the loss of Libyansupply due to civil unrest in theNorth African country.

The estimates of Libya's shut-in volume varies. TheInternational Energy Agencysaid Libyan oil output had beencut by 500,000 to 750,000 bpddue to the unrest, while Italian

oil company ENI said as muchas 1.2 million bpd might bedown.

Morgan Stanley estimatesSaudi spare capacity near 4 mil-lion bpd, accounting for most ofOPEC's total spare capacity atjust below 5.3 million bpd.

Italian refiner Saras said itwould look to alternative crudefrom other countries.

Key Libyancrude and oilproduct termi-nals east of thecapital are inthe hands ofrebels, whohave seizedcontrol from

leader Muammar Gaddafi.Crude oil exports from Libyan

ports and terminals mostly halt-ed, sources said.

On the macro economicfront, the US economy, theworld's largest, grew slowerthan initially estimated in thefourth quarter. Gross domesticproduct grew at annualized rateof 2.8 per cent, the CommerceDepartment said in its secondestimate, marking a downwardrevision from its initial 3.2 percent estimate. -Reuters

Oil falls; SArabia pumpsmore amid Libyan outage

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Friday'sRotterdam vegetable oil price'sat 22:00 PST.

SOYOIL: EU degummedeuro tonne fob exmill Feb11955.00+10.00, Mar11955.00+10.00, Apr11967.00+7.00, May11/Jul11977.00+12.00.

RAPEOIL: Dutch/EU eurotonne fob exmill May11/Jul111015.00+10.00, Aug11/Oct11975.00+15.00, Nov11/Jan12983.00+13.00, Feb12/Apr12990.00+15.00.

SUNOIL: EU dlrs tonneextank six ports optionApr11/Jun11 1410.00+10.00,Jul11/Sep11 1420.00+10.00,Oct11/Dec11 1380.00+15.00.

LINOIL: Any origin dlrstonne extank RotterdamMar11/Apr11 1547.50-2.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Feb111215.00+17.50, Mar111215.00+15.00, Apr11/Jun111210.00+20.00, Jul11/Sep111185.00+35.00, Oct11/Dec111180.00+40.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamFeb11/Mar11 2160.00+15.00,Mar11/Apr11 2140.00+20.00,Apr11/May11 2130.00+30.00.

PALMKERNEL OIL:Mal/Indon dlrs tonne cifRotterdam Feb11/Mar112300.00+20.00, Mar11/Apr112270.00+20.00, Apr11/May112245.00+15.00. -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

25-Feb-2011 CRUDE100 MA11 US$ Per Barrel 101.39 101.61 95.69 97.89 1,246 96.73 97.89 116

25-Feb-2011 CRUDE100 AP11 US$ Per Barrel 102.80 103.05 97.23 99.43 227 98.31 99.43 40

25-Feb-2011 CRUDE100 MY11 US$ Per Barrel 103.68 103.68 100.20 100.20 - 99.12 100.20 -

25-Feb-2011 SILVER - SL500 AP11 US$ Per Troy Ounce 33.25 33.25 32.75 32.75 - 32.52 32.75 1

25-Feb-2011 SILVER - SL500 MY11 US$ Per Troy Ounce 32.80 32.98 32.53 32.81 24 32.53 32.81 -

25-Feb-2011 GOLD 01oz AP11 US$ Per Troy Ounce 1417.10 1418.10 1392.60 1405.20 2,876 1403.40 1405.20 1,573

25-Feb-2011 GOLD 01oz MY11 US$ Per Troy Ounce 1417.70 1419.20 1393.00 1405.70 2,719 1404.00 1405.70 1,304

25-Feb-2011 GOLD 01oz JU11 US$ Per Troy Ounce 1407.50 1419.40 1402.00 1406.30 328 1404.70 1406.30 63

25-Feb-2011 GOLD 100oz AP11 US$ Per Troy Ounce 1417.50 1418.50 1401.00 1405.20 30 1403.40 1405.20 -

25-Feb-2011 GOLD 100oz MY11 US$ Per Troy Ounce 1417.50 1413.30 - 1405.70 - 1404.00 1405.70 -

25-Feb-2011 GOLD 100oz JU11 US$ Per Troy Ounce 1418.00 1419.40 1404.00 1405.70 7 1404.70 1406.30 4

25-Feb-2011 GOLD MA11 Per 10 grms 39025.00 39025.00 38614.00 38644.00 8 38597.00 38644.00 8

25-Feb-2011 GOLD AP11 Per 10 grms 38800.00 39002.00 38646.00 38655.00 5 38608.00 38655.00 82

25-Feb-2011 GOLD MY11 Per 10 grms 39018.00 39018.00 38671.00 38671.00 - 38624.00 38671.00 -

25-Feb-2011 KILOGOLD MA11 Per 10 grms 38963.00 38963.00 38616.00 38616.00 - 38569.00 38616.00 -

25-Feb-2011 KILOGOLD AP11 Per 10 grms 38974.00 38974.00 38628.00 38628.00 - 38581.00 38628.00 -

25-Feb-2011 TOLAGOLD50 MA11 Per Tola 45445.00 45445.00 45041.00 45041.00 - 44987.00 45041.00 -

25-Feb-2011 TOLAGOLD100 MA11 Per Tola 45445.00 45445.00 45041.00 45041.00 - 44987.00 45041.00 -

25-Feb-2011 MINIGOLD MON Per 10 grms 40044.00 40044.00 39680.00 39680.00 - 39632.00 39680.00 -

25-Feb-2011 MINIGOLD TUE Per 10 grms 40088.00 40088.00 39723.00 39723.00 - 39676.00 39723.00 -

25-Feb-2011 MINIGOLD WED Per 10 grms 40103.00 40103.00 39737.00 39737.00 - 39690.00 39737.00 -

25-Feb-2011 MINIGOLD THU Per 10 grms 40118.00 40118.00 39752.00 39752.00 - 39705.00 39752.00 -

25-Feb-2011 MINIGOLD FRI Per 10 grms 40030.00 40030.00 39766.00 39766.00 - 39720.00 39766.00 -

25-Feb-2011 TOLAGOLD MON Per Tola 46563.00 46563.00 45619.00 45619.00 26 45564.00 45619.00 24

25-Feb-2011 TOLAGOLD TUE Per Tola 46361.00 46361.00 45669.00 45669.00 5 45614.00 45669.00 5

25-Feb-2011 TOLAGOLD WED Per Tola 46136.00 46136.00 45685.00 45685.00 4 45630.00 45685.00 1

25-Feb-2011 TOLAGOLD THU Per Tola 46350.00 46350.00 45702.00 45702.00 2 45647.00 45702.00 1

25-Feb-2011 TOLAGOLD FRI Per Tola 46027.00 46027.00 45718.00 45718.00 - 45664.00 45718.00 -

25-Feb-2011 IRRI6W 03MA11 Per 100 kg 3270.00 3307.00 3270.00 3307.00 - 3270.00 3307.00 -

25-Feb-2011 RICEIRRI - 6 MA11 Per 100 kg 3293.00 3322.00 3293.00 3322.00 - 3293.00 3322.00 -

25-Feb-2011 RBD PALMOLEIN MA11 Per Maund 5186.00 5234.00 5186.00 5234.00 - 5186.00 5234.00 -

25-Feb-2011 KIBOR3M 11-Mar Per Rs. 100 86.27 86.27 86.25 86.25 - 86.27 86.25 -

25-Feb-2011 KIBOR3M 11-Jun Per Rs. 100 85.70 85.71 85.70 85.71 - 85.70 85.71 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

India sugar

flat; mkt eyes

March quotaMUMBAI: Indian spot sugarprices were steady on Friday asweak demand outweighed mar-ket talk of lower non-levysugar quota for March, dealerssaid.

India has made available1.62 million tonnes of non-levy sugar for February,including 300,000 tonnesunsold stocks of January.

"Demand was weak, buttraders and millers were hold-ing prices expecting lowernon-levy sugar quota forMarch," said a member ofBombay Sugar MerchantsAssociation (BSMA).

In Kolhapur, a key market intop producing Maharashtrastate, the most traded S-varietywas steady at 2,700 rupees($59.5) per 100 kg.

Sugar contract for Marchdelivery on India's NationalCommodity and DerivativesExchange (NCDEX) was up0.14 per cent at 2,850 rupeesper 100 kg at 4:17 p.m.

A decision by India onwhether to allow 500,000tonnes of unrestricted sugarexports could take anotherthree weeks as the governmenthas decided to broaden consul-tations to key ministries, gov-ernment sources said on Feb.22.

India is likely to produce 25million tonnes of sugar in thenew season that began on Oct.1, a producers' body said onFeb. 8, slightly lowering itsprevious forecast as unseasonalrains trimmed cane yields in akey state. -Reuters

HO CHI MINH - VIETNAM: A worker sifts coffee beans at a processing factory of the coffee trader Atlantic

Commodities (Acom) in Bao Loc city, near Vietnam's southern commercial hub Ho Chi Minh city. -Reuters

LONDON: Gold rose towards$1,410 an ounce on Friday andwas on track for a fourthstraight week of gains, support-ed by interest in the metal as ahaven from risk as violenceflared in Libya and across theMiddle East region.

Spot gold was bid at$1,409.09 an ounce at 1605GMT against $1,401.47 late inNew York on Thursday, and is

on track for its fourth consecu-tive weekly gain. US goldfutures for April delivery fell$6.70 an ounce to $1,409.10.

"We have seen a big decreasein risk appetite, a fall, certainlyafter mid-February, in equitiesand the industrial metals, but anincrease in oil with uncertaintyover a supply shock," said VMGroup analyst Carl Firman.

"Alongside that you haverisk aversion, and we have seengold and silver benefit. And Ithink that is here to stay untilthe situation becomes clearer."

On Thursday spot prices roseas high as $1,417.92 an ounce,close to the metal's record highof $1,430.95.

"People are looking to buydips in gold, from an invest-ment perspective, on the backof the Middle East issues," saidStandard Bank analyst Walterde Wet. "If tension eases there,I can see gold coming off."

The unfolding situationacross the Middle East andNorth Africa will remain infocus next week. Civil unrestfirst broke out in Tunisia, fromwhere it spread quickly toEgypt, and then to Bahrain,Libya, Yemen and others.

"In order for already highgold and silver prices to be sus-tained, the market may require asteady diet of increased strife in

the Middle East, coupled withhigher oil prices," HSBC ana-lyst James Steel said in a note.

Investment demand in devel-oped markets for products likegold-backed exchange-tradedfunds remained soft. Holdingsof the largest, New York'sSPDR Gold Trust fell to a nine-month low at 1,211.568 tonneson Thursday.

Holdings of the largest silverETF, the iShares Silver Tust,meanwhile, rose to a six-weekhigh at 10,666.35 tonnes onThursday. Silver was bid at$32.94 an ounce against $32.09.The metal is on track for a fifthconsecutive weekly gain,although it slipped sharply from31-year highs on Thursday, put-ting in its worst one-day perform-ance since December. Elsewhere,platinum was at $1,794.74 anounce against $1,777.49, whilepalladium was at $785.72against $771. -Reuters

Gold above $1,400over Mideast issues

Cocoa makes32-yr peak;

sugar upLONDON: Cocoa prices on ICEclimbed to a 32-year high onFriday as fighting intensified intop grower Ivory Coast andrebels seized a town in the westof the country, dealers said.

Coffee prices rose as the mar-ket started to move up again fol-lowing a two-day setback, whilesugar prices also advanced withthe focus on Monday's expiry ofthe March contract on ICE.

May cocoa on ICE was up $19at $3,644 a tonne at 1604 GMTafter hitting a 32-year high forthe second month of $3,648. Thesterling-based Liffe contract wasalso higher with May up 26pounds at 2,376 pounds a tonne.

Prices for the ICE May cocoacontract have risen about $600 or28 per cent since early January asthe crisis in Ivory Coast hasdeepened.

Arabica coffee futures on ICEwere higher as the market beganto creep back up towardsTuesday's peaks which were thehighest levels seen in more than30 years. May arabica coffeerose 2.55 cents or 1.0 per cent to$2.6720 per lb. The contractpeaked at $2.7840 on Tuesday,the highest level for the secondmonth in more than 30 years.

May robusta coffee rose just amarginal $2 to $2,331 a tonne asdealers noted a pick-up inexports from top robusta produc-er Vietnam.

Raw sugar futures were higherwith the market's focus onMonday's expiry of the Marchcontract. March raw sugarfutures was up 0.65 cent at 30.87cents a lb while May white sugaron Liffe rose $12.60 to $717.60per tonne. -Reuters

NEW YORK: US cottonfutures finished lower for afourth straight day Thursday,as a USDA crop report show-ing big crop plantings in someagricultural commodities trig-gered hefty selling in the cot-ton market.

March cotton finished down5.28 cents or 2.8 per cent at$1.8128 per lb, having tradedin a range between $1.7900 perlb and $1.8507 per lb.

Huge US corn and soybeanplantings this spring will likelyfail to refill razor-thin stocks

enough to quell the surge ingrain prices, the USAgriculture Department saidon Thursday.

'I don't know that there's anybig surprise there. We werelooking for big acreage and wegot big acreage,' said JackScoville, analyst with PriceFutures Group in Chicago.

'I think cotton kind of toppedout anyway,' he said.

Scoville said he is waiting tosee forecasts for demand andending stocks for cotton, andthat it's too early to tell whether

the USDA's forecast is bearishor bullish on the market.

China will become America'stop export market, surpassingCanada. China is seen import-ing 60 per cent of the world'ssoybeans and 40 per cent of itscotton this year, the USDAreport said.

Analysts and brokers saidthey expect future shortagesare still possible due to strongglobal demand and short sup-plies, that eventually may pushprices back up to their recordlevels. -Reuters

US cotton falls for 4th dayafter USDA crop report

KUALA LUMPUR:Malaysian palm oil futuresrose as much as 2.5 per cent onFriday after sharp sell-off theprevious day as investorssnapped up bargains althoughconcerns lingered over MiddleEast unrest slowing economicgrowth.

Palm oil hit its lowest sinceNov. 29 on Thursday with trad-ed volumes hitting a recordhigh of 48,704 lots of 25tonnes each on selling pressurefrom refiners and funds cuttingpositions.

The benchmark May crudepalm oil futures climbed asmuch as 86 ringgit to 3,541ringgit($1,155)before settlingat 3,515 ringgit.

Traded volume at the timestood at 29,810 lots of 25tonnes each from the usual15,000 lots.

Traders said top palm oilbuyers India and China mightenter the market for supplies asprices are attractive and palmoil has reduced its premium tocompeting soyoil.

But other investors said there

could be more selling pressurein the days to come.

"After the sell-off investorsare quite uncertain about themarket tread. It is likely to con-tent between 3,400 to 3,500ringgit a tonne," said a traderwith foreign brokerage.

Reuters technical analystWang Tao said there was abearish target for Malaysianpalm oil based on its wave pat-tern at 3,275 ringgit per tonne.

Gains in palm oil prices werealso capped by slower overseasdemand, after cargo surveyorIntertek Testing Servicesreported 8.2 per cent lower inpalm oil exports during Feb. 1to 25 compared to the sameperiod last month.

Another cargo surveyor,Societe Generale deSurveillance said exports forthe same period fell 6 per cent.

US soyoil for March deliveryreversed losses to gain 1.1 percent in Asian trade hours, whilethe most traded Sept. soyoil onChina's Dalian CommodityExchange rose 0.8 per cent. -Reuters

Palm oil reboundson bargain hunting

Shanghai copper rises

Shanghai's most active

May copper contract rose 1.6

per cent to 72,590 yuan.

Tokyo rubber

slips on

profit-takingBANGKOK: Tokyo rubberfutures slipped lower on Fridayas players took profits to avoidrisk ahead of the weekend, buttight supply on the physicalmarket and firm oil prices stillprovided support, dealers said.

The benchmark rubber con-tract on the Tokyo CommodityExchange for August deliveryfell 3.8 yen to settle at 475.0yen ($5.80) per kg.

"The market was a bit over-bought and players as well asinvestment funds just tookprofits ahead of the weekend,"one dealer said.

The most active Shanghairubber contract for May deliv-ery fell 70 yuan to settle at38,285 yuan ($5,819) pertonne.

TOCOM rubber was expect-ed to rebound after prices fin-ished above the key psycholog-ical level of 470 yen per kg,while seasonal tight supply inproducing countries shouldprovide support, dealers said. -Reuters

Key Libyan oil terminals held by rebels

Pakistan mull3 specialist bowlers

COLOMBO: If indications from Waqar Younis are anything to go by,Pakistan are unlikely to pick a fourth specialist bowler for Saturday'scrunch game against co-hosts Sri Lanka at the R Premadasa.

Pakistan comprehensively beat Kenya in their tournament opener onWednesday, but played, in Umar Gul, Shoaib Akhtar and Abdur Rehman,with just three specialist bowlers. Shahid Afridi is as good as a specialistbowler but the caution to fill the line-up with batsmen and batsmen whocan bowl, has led to an under-utilisation of Abdul Razzaq.

Razzaq batted at No. 8 in the last game, as he has done in 14 of 18 ODIsin the last year. He has played a few significant innings but more than hisperformances, the question has been whether he is being allowed, in thecurrent line-up, to have the fullest impact on a game. Pakistan have com-pensated by using him as an opening bowler, but even there he remainsunder-used: in those 18 ODIs, he has bowled 91.4 overs or, on average,roughly five overs a game. Never once has he bowled the whole quota andhe has picked up eight wickets.-Online

Waqar says wedon't fear Murali

COLOMBO: Pakistan coach Waqar Younis played down the threat fromMuttiah Muralitharan ahead of their crucial World Cup clash with SriLanka on Saturday, saying their batsmen had coped with him in the past.

Acapacity 35 000-crowd is expected to fill the Premadasa stadium in Colombofor the Group A match - the first big test for both teams after Sri Lanka easilyrolled over Canada and Pakistan crushed Kenya. "In the past if Muralitharan hadplans for us, we have played really well against him in this country. -Online

10Saturday, February 26, 2011

Italy's Elena Curtoni clears a gate in slalom portionof women's super combined WC ski race in Are

Novakstruggles

into Dubaifinal

DUBAI: Defending champi-on Novak Djokovic reachedthe Dubai championshipsfinal with a dramatic victoryon Friday over TomasBerdychwho was forced toretire in the deciding set.

Djokovic won 6-7 6-2 4-2in a fluctuating tussle withthe third-seeded Czech whowas hampered by a thighinjury in the closing stages.

The pair were evenlymatched in the opening setwith neither earning a breakpoint in the first 11 games butDjokovic saved two setpoints before losing the tiebreak 7-5.

The Serbian second seedhad looked sluggish in thefirst set but he offered moreof a threat in the second,holding a break point for 2-0and breaking for 3-1 whenBerdych netted a backhand.

Both players saved breakpoints in the next two gamesbut Djokovic broke again forthe set before Berdych calledfor the trainer and had his leftthigh massaged.

Games went quickly in thefinal set as both players heldserve comfortably untilDjokovic broke to lead 4-3.Berdych lost the next twopoints before deciding toretire.

"The problem was my leftquadriceps," Berdych toldreporters. "Was not able justto serve, move to the sides,and just feel the pain. It's nochance to just play with thisguy in the condition that Iwas feeling-Reuters

COLOMBO: Pakistan knowtheir World Cup match againstSri Lanka here on Saturday isone of their most crucial inGroup A, but will not be over-awed by the home team'sbowlers or the partisan fans.

A sell-out crowd of 35,000will be on hand to see world-record spinner MuttiahMuralitharan and slingy seam-er Lasith Malinga attempt toput the brakes on ShahidAfridi's Pakistan team.

Sri Lanka, who were cham-pions in 1996, and Pakistan,the 1992 winners, enjoyed fly-

ing starts with convincing vic-tories against minnowsCanada and Kenya, and areprimed for their first bigmatch.

Afridi said his team wasready for the challenge.

"We know the importance ofthe match and I am confidentthat we are up to the SriLankan challenge, whether it'sMalinga or Muralitharan,"said Afridi.

Muralitharan, who has aworld record 521 wickets in342 one-day internationals,has a tally of 95 against

Pakistan in 64 matches, and iseven more dangerous in homeconditions.

"In Sri Lankan conditionsand pitches, he (Muralitharan)is always very dangerous andhe could probably turn the ballon a marble. He has so muchexperience, knows conditionswell and that's why he is thebest," said Afridi.

Afridi said Malinga,renowned for his slingyaction, would find it toughafter missing the Canadamatch due to a back strain.-Online

Pakistan-Lankashowdown today

NAGPUR: Ruthless Australia com-pounded the miseries of rivals NewZealand by notching up a seven-wicket victory in their World Cupmatch on Friday

Chasing an easy target of 207 runsfor victory, Australia openers ShaneWatson (62) and Brad Haddin (55)piled on 133 for the first wicket injust 18 overs as they punished theerratic bowling of New Zealand inthe Group A encounter.

The start ensured that there wereno hiccups, though both openersdeparted in the same over to pace-man Hamish Bennett.

Captain Ricky Ponting (12) fol-lowed soon after, stumped brilliantlydown the leg side by BrendonMcCullum off Tim Southee.

Vice captain Michael Clarke andCameron White saw Australia homein just 34 overs with an unbeatenfourth-wicket stand of 40 runs to

extend their team's unbeaten run inWorld Cup to 31 matches.

The Kiwi bowlers did not helptheir cause by bowling 32 extras,which included 29 wides.

The match was played against asombre backdrop following the dev-astating earthquake in Christchurchearlier this week.

Both teams observed a minute'ssilence and wore black arm-bands,while the New Zealand flag flew at

half mast in memory of the victimsof the earthquake, which has claimedat least 113 lives with 228 peoplestill missing.

Some of New Zealand playersstruggled to keep their emotions incheck as they linked arms while theirnational anthem was being playedbefore the start of the match.

After the solemn start, theAustralian pace duo of MitchellJohnson andShaun Tait vindicated

Ponting's decision to field first byskittling New Zealand for a 206.

Overnight rain and a little cloud coverprompted Ponting to bowl first in theday match and some fiery fast bowlingsaw the Kiwis lose their first six wicketswith just 73 runs on the board.

Johnson (four for 33) and Tait(three for 35) shared seven wicketsamong themselves, while Brett Leeand Shane Watson also chipped inwith a wicket apiece.-Reuters

Ruthless Aus thump Kiwis by 7 wickets

DHAKA: A spectacular div-ing catch by Tamim Iqbal anda four-wicket blast by pace-man Shafiul Islam spurredBangladesh to a pulsating 27-run win over Ireland in theirWorld Cup Group B match onFriday.

Chasing 206 for victory,Ireland looked like they weregoing to break Bangladeshihearts as they were coastingtowards their target with ease.

But a diving Iqbal scoopedthe ball just millimetres off theground to get rid of dangermanNiall O'Brien (38) and thatmoment of brilliance revivedthe host nation's fortunes.

Needing 55 for victory off81 balls, Ireland blew theirchance of recording anotherfamous upset as they surren-dered their last five wicketsfor just 27 runs and they wereall out for 178 -- with Shafiulthe main architect of theirdownfall.

Bangladesh, who were ham-mered by India in their open-ing match, sparked wild cele-brations among the 25,000fans packed into the ShereBangla Stadium after pullingoff an unlikely win.

"We didn't bat well but ourbowlers and fielders showgreat character," a relieved

Bangladesh skipper Shakib AlHasan said during the presen-tation ceremony.

Shafiul, who has beendogged by fitness problems inthe run up to the match, strug-gled to find his line and lengthduring his first two spells.

However, he was at hisdestructive best in his thirdspell and conceded only 10runs as he picked up the wick-ets of Kevin O'Brien (37),Andre Botha(22), TrentJohnston (6) and Boyd Rankin(3) to finish with 4-21.

Bangladesh's win wouldhave somewhat taken thegloss off teenager GeorgeDockrell's impressive WorldCup debut.

Left-arm spinner Dockrell,still only 18, picked up the keywickets of Mushfiqur Rahim(36) and Mohammad Ashraful(1) to help restrict the hosts toa modest total.

Iqbal and Imrul Kayes hadgiven Bangladesh a flyingstart as they raced to 50 runsinside six overs but someinspired fielding and a con-trolled bowlingdisplay fromthe Irish stifled the innings tothe dismay of the home fanswho started to fear anotherdefeat at the hands of theIrish.-Reuters

B’desh securesthrilling winover Ireland

ICC Chiefslammed by

ICC forticket fiasco

MUMBAI: Warring cricketofficials, the shortage of publictickets for India's high-profilematches and violent clashesbetween fans and baton-wield-ing police took the spotlightaway from the players at theWorld Cup on Thursday.

On a day when the cricketcommunity should have beenhailing Imran Tahir's four-wick-et haul on his ODI debut andAB de Villiers's brilliant centu-ry as South Africa thumpedWest Indies by seven wickets,the World Cup looked like itwas turning into another publicrelations disaster for India.

The tournament's top officialwas severely criticized afterpolice battered hundreds of fanswith bamboo sticks outsideBangalore's M ChinnaswamyStadium as anger at the lack oftickets for the clash betweenIndia and England boiled over.

In a letter leaked to the media,the governing body of the sport(ICC) accused its own presidentSharad Pawar of mismanage-ment and said he was "threat-en(ing) to undermine" thewhole tournament with the waytickets were being distributed --or rather not being distributed --in India.

Pawar, who is also the chair-man of the tournament's CentralOrganizing Committee, wasunder attack for bringing ICC'srelationship with its corporatesponsors to "breaking point" asthey had yet to receive theirallocation of tickets despiteinvesting millions of dollarsinto the Feb 19-April 2 event.-Reuters

NIT-RoverCricket

TournamentSports Reporter

KARACHI: Rover CricketClub Karachi in collaborationwith NIT is organizing a limit-ed over tournament at Karachi.It will commence fromFebruary 27 and final will beplayed on March 13. Tensteams comprising of veteransand icon players will play thematch on three weekends. Thisoffers the spectators and crick-et enthusiasts an opportunity towatch some exciting moments.

Maradonakeen onSpanish

coaching jobMADRID: Diego Maradonaintends to continue his careeras a coach and would like towork in Spain, the formerArgentine great told Spanishsport daily Marca on Friday.

"My desire (to coach)remains intact and I reckon Icould do it in Spain," saidMaradona.

"After the 2010 World Cup, Ireceived two or three interest-ing proposals. But they didn'tsuit me. I thanked (the clubs)and said the time wasn't right.

"But now that the summerhas passed, I'm approachingthings differently."

Maradona, 50, took chargeof Argentina at last year'sWorld Cup in South Africa butsaw them thrashed 4-0 byGermany in the quarterfinals.

The Argentine FootballAssociation (AFA) subse-quently decided not to prolonghis contract.

At the beginning of Januaryhe claimed to have received anoffer to coach an English club,which at the time wasrumoured to be Fulham.-Agencies

DHAKA: Bangladesh's Tamim Iqbal, Mohammad Ashraful, Shafiul Islam, Abdur Razzakand Junaid Siddique celebrate the dismissal of Ireland's Ed Joyce.-Reuters

NAGPUR: Brad Haddin of Australia pulls during the2011 ICC World Cup Group A match between Australia

and New Zealand at Vidarbha Cricket AssociationGround.-Reuters

11Saturday, February 26, 2011

International & Continuation

CONTINUATION

LONDON: Britain's economysuffered an even sharper slumpthan expected at the end of lastyear and would have shrunkslightly even withoutDecember's bad weather, offi-cial data showed on Friday.

The figures dented marketexpectations of any early risein interest rates by the Bank ofEngland, though analysts saida May increase was still on thecards.

Recent survey data suggestactivity rebounded stronglyearly this year, and the govern-ment said the drop -- much ofwhich was due to December'sunusually severe weather --would not throw its deficit-busting programme off track.

Friday's official data showedBritain's economy shrank by0.6 per cent between Octoberand December, surprising ana-lysts who thought last month'spreliminary estimate of a 0.5per cent contraction would beunrevised.

Britain's Q4 performancelooks dismal compared to itspeers. Germany's economyexpanded by 0.4 per cent overthe period and even Francemanaged 0.3 per cent growth.US GDP figures on Fridayshowed annualised fourth-quarter growth revised down to2.8 per cent from 3.2 percent.

The weak UK data reinforcethe case of those on the BoE'sMonetary Policy Committeewho think it is premature tostart raising interest rates whenthe economy still faces severeheadwinds.

Still, it is unlikely to breakthe momentum towards tighterpolicy after minutes this weekshowed three out of nine MPCmembers voted for an immedi-ate rate rise from 0.5 per centin February.

The pound fell a third of a

cent against the dollar and hit aone-month low against theeuro as investors scaled backbets on a rise in interest ratesin the next two months.

"Today's data will add to theconcerns of the doves in theMPC who maintain that therecovery is still fragile, andwill strengthen the case for await-and-see policy at leastuntil it has become clear thatthe recovery is sustainable,"said Blerina Uruci, economistat Barclays Capital.

The Office for NationalStatistics stuck to its line thatDecember's bad weatheraccounted for 0.5 percentagepoints of the fall in economicoutput, and it said the down-grade to GDP was mainly dueto lower production and serv-ices output than it estimatedlast month.

But most analysts reckon theeconomy will enjoy a reboundin the first quarter of this year,as firms and consumers makeup for time lost at the end oflast year.

Indeed, recent purchasingmanagers' surveys indicateactivity is picking up sharply,with manufacturers enjoyingparticularly robust demandthanks to the past fall in thepound.

Many analysts still expectthe BoE to start raising rates inMay to tackle inflation, whichis currently running at doublethe central bank's 2 per centtarget.

"I think May is still on thecards," said Richard Barwell,economist at RBS. "This is onebad quarter and we think itwill come back in Q1."

Friday's data showed house-hold spending fell 0.1 per centon the quarter -- suggestingBritons were tightening theirbelts even before a January

rise in value added tax, andboding ill for consumptiononce public sector spendingcuts kick in.

Surveys show consumermorale remains in the dol-drums, and stores have alsobeen having a hard time, withretail bellwether John Lewison Friday reporting a fifthweek of poor sales.

A survey by theConfederation of BritishIndustry showed retail salesgrowth slowed to an 8-monthlow in February, and lookedset to deteriorate further.

Britain's economic recoverylooks set to be sluggish thisyear as the governmentembarks on its deepest spend-ing cuts in generations toreduce a record budget deficit.

Without government spend-ing, which rose by 0.7 per centon the quarter, the decline inQ4 GDP would have beeneven sharper.

"This is fairly worryinggiven we know about the waveof fiscal austerity that is nowstarting to hit the UK econo-my," said James Knightley,economist at ING.

And while policymakers willbe dismayed by rising pricepressures -- the implied defla-tor shot up to 1.0 per cent onthe quarter from 0.3 per cent inQ3 2010 -- they will probablywant more reassurance that therecovery is back on trackbefore pulling the trigger onrates.

"There is no prospect of anymoves before the Q1 databecomes available at the endof April and even then a ratehike is not the foregone con-clusion that markets appear tothink it is," said AndrewGoodwin, economic adviser tothe Ernst & Young ITEMClub.-Reuters

UK Q4 economyshrank even morethan first thought

BERLIN: German consumerinflation held steady inFebruary at its highest ratesince October 2008, datashowed, and was tipped toaccelerate in coming months,serving up a policy headachefor the European Central Bank.

Prices rose 2.0 per cent on theyear, the same as a month earli-er, and were up 0.5 per cent onthe month, from a 0.4 per centdrop in January, according topreliminary data released bythe Federal Statistics Office onFriday.

That was the fastest sinceprices grew 2.4 per cent inOctober 2008 but missedexpectations in a Reuters pollof 32 economists for a 2.1 percent year-on-year rise.

A rise in energy costs -- fuel,light heating oil and electricity-- was the main driver, but ana-lysts said underlying Germaninflation was also increasing.

"The (oil price) increase isoverdone... but we expect(German) inflation to be signif-icantly above 2 per cent in thecoming year," said HiloHeidrich, an economist at Postbank.

Harmonised for EU purposes,prices rose 2.2 per cent on theyear, slightly more than expect-ed and above the EuropeanCentral Bank's price stabilitytarget of close to but under 2percent.

The euro dipped after the twosets of data, dropping around16 ticks before recouping partof the loss to trade at $1.3775 at1346 GMT.

Oil has risen above $100 abarrel since civil unrest sweptacross the Middle East andNorth Africa this year, drivingenergy prices higher in Europe.

In the German state ofBaden-Wuerttemberg, fuelprices increased by 13.3 percent on the year and heating oilwas 31.1 per cent more expen-sive than a year ago, accordingto the state's statistics office.

The most recent oil pricespike, sparked by unrest inLibya, was not included in thedata as they were collectedlargely in mid-month.

Analysts expect German con-sumer prices to rise even fasterif unrest in the oil-producingregion continues, and not justto affect energy.

"Not just energy and foodwill get more expensive thenbut also other goods and servic-es," said UniCredit AnalystAlexander Koch. "Companieswill increasingly pass on thehigher costs to the consumers."

That may cause a headachefor the European Central Bankin its efforts to ensure price sta-bility against the backdrop ofan uneven economic recoveryin the euro zone.

The ECB is expected to leaveinterest rates on hold at a recordlow of 1 per cent next week.

ECB policymakers have upratcheted up inflation warningsin recent days, bolsteringexpectations the bank couldresume the process of graduallyremoving exceptional crisissupport measures next month.

But separate money supplydata released on Friday mayargue for caution on the part ofthe ECB.

While loans to the privatesector rose at an annual rate of2.4 percent, up from 1.9 percent in December, money sup-ply growth came in weakerthan in the previous month,ECB figures showed.-Reuters

German inflationholds still at multi

year high in February

WASHINGTON: The USeconomy grew more slowly inthe fourth quarter than initial-ly estimated as governmentspending shrank more sharplyand consumer spending wasless robust, a governmentreport showed on Friday.

Gross domestic productgrew at annualized rate of 2.8percent, the CommerceDepartment said in its secondestimate on Friday, marking adownward revision from itsinitial 3.2 per cent estimate.

Economists had expectedGDP growth, which measurestotal goods and services out-put within US borders, to berevised up to a 3.3 per centpace. The economy expandedat a 2.6 per cent rate in thethird quarter.

Against the backdrop ofsurging crude oil prices andimpending government budgetcuts, the outlook for growth islooking less robust and someeconomists have lowered theirforecasts for the first quarter.

"Consumers stumbled a bitand while we expect them topick up the pace in comingmonths, the recent rise inenergy prices poses a notableheadwind," said MichaelFeroli, an economist at JPMorgan in New York.

JP Morgan cut its first quar-ter GDP growth estimate to3.5 per cent from 4 percent.

But Richmond FederalReserve Bank PresidentJeffrey Lacker said on Fridaythat he did not think oil at$100 a barrel or gasoline over$3 a gallon would derail theUS economic recovery.

"So far this seems quitemanageable," he said onCNBC. "The real danger is ininflation psychology. I thinkas long as expectations aremanaged well we're going toget through this without aburst in inflation."

And consumers, so far,appear to be weathering risinggasoline prices. Consumerconfidence hit a three-yearhigh in February, with the

Thomson Reuters/Universityof Michigan survey's index onconsumer sentiment climbingto 77.5 from 74.2 in January.FED TO STAY THECOURSE

For the whole of 2010, theeconomy grew 2.8 per centinstead of 2.9 percent.

The pace of growth in thefourth quarter was too slow todo much to lower the unem-ployment rate, which fell dur-ing the quarter from 9.6 percent to 9.4 percent. It fellagain in January to reach 9percent.

Federal Reserve officialshave been concerned the econ-omy is expanding too slowlyto bring down unemploymentsignificantly. The report sup-ported the view the centralbank will complete its $600billion government bond-buy-ing program to further stimu-late demand by lowering inter-est rates.

"Even within the currenteasy money environment, theeconomy continues to face theharsh reality of a weak hous-ing market, rising commoditycosts, and lackluster job cre-ation," said Jim Baird, a part-ner at Plante Moran FinancialAdvisors in Kalamazoo,Michigan.

U.S government debt priceswere little changed, while thedollar rose against the euro.

The government revisedfourth-quarter growth toreflect a steeper contraction ingovernment spending thanpreviously estimated.Government spendingdeclined at a 1.5 per cent raterather than 0.6 percent, due toweak state and local govern-ment outlays, and subtracted0.31 percentage points fromGDP.

In addition, consumerspending -- which accountsfor more than two-thirds ofUS economic activity -- grewat a 4.1 per cent rate in thefinal three months of 2010instead of 4.4 percent.

It was still the fastest since

the first three months of 2006and an acceleration from thethird quarter's 2.4 per centrate. But there are concernsthat surging crude oil pricescould hurt consumer spendingand slow the economy's recov-ery.

The government revisedbusiness investment up,though spending on equip-ment and software was lower.Business spending increasedat a 5.3 per cent rate instead of4.4 percent.

Business investment grew ata 10.0 per cent pace in thethird quarter. Spending onsoftware and equipmentincreased at a 5.5 per cent rateinstead of 5.8 percent.

Business inventories sub-tracted 3.70 percentage pointsfrom GDP growth, unrevisedfrom last month. Businessinventories increased $7.1 bil-lion instead of the $7.2 billionestimated last month.

Excluding inventories, theeconomy expanded at a 6.7per cent pace rather than 7.1percent. It still marked thebiggest increase in domesticand foreign demand since1998. In contrast, domesticpurchases grew at a muchmore moderate 3.1 per centrate instead of 3.4 percent.

Exports were revised higher,but the upward revision toimports was even greater.Trade added 3.35 percentagepoints to GDP growth insteadof 3.44 percentage points.

The report confirmed a pick-up in inflation pressures onsurging food and gasolineprices. The personal consump-tion expenditures (PCE) indexrose at an unrevised 1.8 percent rate in the fourth quarter.That was a sharp gain from 0.8per cent in the third quarter.

But a "core" price indexclosely watched by the Fedadvanced at revised 0.5 percent rate instead of 0.4 per-cent. The increase, whichmatched the third quarter, wasstill the smallest rise onrecord.-Reuters

US 4Q growthrevised downunexpectedly

Russiasurprises byraising ratesacross board

MOSCOW: Russia's centralbank surprised markets onFriday by using its full range ofweapons to tighten monetarypolicy, sending a strong signalthat it views rising prices as agreater threat than slow econom-ic growth.

It raised all of its key interestrates by 25 basis points -- in con-trast to analysts' expectations ofa rise only in deposit rates -- andincreased minimum reserverequirements for the secondmonth running.

The rise in reserve require-ments for foreign liabilities,however, was double that ondomestic ones -- somethingwhich should discourage inflowsof speculative capital and a signof the bank's concern that astronger rouble would hurtgrowth.

"The decision ... was taken dueto continued high inflationexpectations and ... grounds forcapital inflow into Russiaagainst the backdrop of highglobal oil prices," the centralbank said in a statement.

The rouble scored fresh 10-month highs against the dollaron the news, which came a dayafter hawkish Finance MinisterAlexei Kudrin said it was time toraise rates to tame high inflation.

Analysts had expected the ratedecision to be a tough one, withthe regulator juggling soaringprices on the one hand and theeconomy's dismal performanceso far this year on the other, butmost had envisaged a softerapproach.

"With such a move the centralbank clearly signals their con-cern over inflation -- and deter-mination to move toward infla-tion targeting," AurelijaAugulyte, an emerging marketanalyst with Nordea Markets,said in a research note.

The central bank raised theovernight deposit rate to 3.00percent, as expected, and therefinancing rate to 8.00 percent.

Requirements for liabilities tonon-residents were raised by 100basis points to 4.5 percent, andfor other liabilities by 50 basispoints to 3.5 percent.

The worst drought in over acentury killed a third of Russia'sharvest last year, pushing up thecost of food and driving a surgein headline inflation.-Reuters

The Karachi Stock Exchange has a small market capitalisationand selling of $2 million to $3 million amid lack of buyers wouldspark a sell off, analysts said. Dealers said political uncertaintyalso triggered the sell off at the local bourse.

"There are many reasons for the fall in the market, one being theoutcome of the PML-N meeting," said Sajid Bhanji, director atbrokers Arif Habib Ltd. The PML-N (Pakistan Muslim League-Nawaz) met on Friday to decide whether it will keep the PakistanPeople's Party (PPP) members in the Punjab provincial coalition.The announcement is expected shortly.

"There are also issues regarding the economic scenario, regard-ing the fiscal deficit following a rise in international oil prices,"said Bhanji.-Reuters

Continued from page 1No #1

19th Amendments and 7th NFC Awards. Rabbani said theprovince of Punjab did not belong to PML-N alone, rather allpolitical forces were free to do politics there.-Agencies

Continued from page 1No #2

Furthermore, Davis also refused to sign a chargesheet in courtFriday and insisted he had diplomatic immunity, lawyers said.

"Davis refused to sign the copy insisting that he be released andclaiming that he enjoys immunity," public prosecutor AbdulSamad said. Davis, a former US special forces officer, has beencharged with double-murder and faces possible execution.

There have been conflicting accounts about the identity of thetwo victims with Davis and a police report indicating they werearmed robbers while Pakistani media and some officials have por-trayed them as innocent victims. With public anger and anti-American feeling running high, President Ali Asif Zardari'sunpopular government had little choice but to let the case gothrough the courts. "He should be treated the same way he treatedPakistanis," said Muzammil Mukhtar, a laborer in a factory nearKot Lakhpat jail, where Davis has been detained since February11 and where his trial began on Friday.

"We should not care about our relations with America. Thesehave never been good." Davis is being held under tight security.

Protesters have burned effigies of him and US flags since detailsof the killings became public, sparking concern about his safety.

US Consul General General Carmela A. Conroy attended thetrial, but reporters and other members of the public were notallowed in.-Agencies

Continued from page 1No #3

possible steps to improve law and order situation and it will notcompromise on this count", PM announced. Regarding talks withTaliban, PM said "we held talks with Taliban before operation inSwat and Malakand and signed a pact with them but Taliban back-tracked from it. Taliban disgraced women and children, therefore,we had to launch operation against them, he held.

Meanwhile, Prime Minister urged the ministers to take steps toimprove the governance in their respective ministries. PrimeMinister said that government has been consistently working toempower the people. The Prime Minister expressed these viewswhile talking to Senator Nelofar Bakhtiar, Minister for RailwaysHaji Ghulam Ahmad Bilour, Minister for Kashmir Affairs Mian

Continued from page 1No #4

On the other hand, PSO has to make a collective payment ofRs127 billion out of which Rs85 billion has to be paid immediate-ly as the payment deadline has expired. Among the defaulters areParco (which owes Rs27 billion), Pakistan Refinery (Rs11 bil-lion), National Refinery (Rs9 billion), Bosicor (Rs4 billion) andArab Refinery owes Rs1 billion.

Continued from page 1No #5

organisations would keep each other informed on their actionsin Pakistan has now broken down.

"It's a vicious circle. Davis was in Pakistan because Pakistancan't be trusted. But Davis getting caught has increased the mis-trust," the Pakistani official said. "Their interests are no longercongruent. Eventually the ISI and the CIA will have to work outnew rules of engagement," the official added.

Continued from page 12No #6

whether the stance of department had changed with a change offunctionary. The counsel replied that secretary had directed themthat all facts should be placed before the Court so that it could takea decision. The Chief Justice questioned why they were makingsuch guarded statements and who were the people they were try-ing to protect. "If the government gets back money, it is good. It'stime responsible people were booked," he added. Lauding secre-tary railways for his clear stance in purchase of locomotives case,he said let the responsible suffer for their crimes. The ChiefJustice also observed that those respondents who did not filereplies over the issue meant that they had nothing to contest.

He said the ministry could decide the case as they had the author-ity. Further hearing was adjourned for two weeks. The bench isseized with the pleas filed by Ishaq Khan Khakwani and DrMobashir Hassan against leasing out of Railways land to RoyalPalms and Country Golf Club Lahore by claiming that the transac-tion was made in highly objectionable manner in 2001.-APP

Continued from page 1No #7

occupation. The President congratulated him for steeringKuwait through difficult times and having rebuilt it to meet thechallenges of the current times. The Amir of Kuwait thankedPresident Zardari for accepting his invitation to join him and hisnation in the moment of joy, and expressing a friendly gesturetowards the brotherly country. Crown Prince Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah and Prime Minister Sheikh Nasser AlMohammed Al-Ahmed Al-Jaber Al-Sabah represented Kuwait inthe meeting while Privatisation Minister Syed Naveed Qamar andAmbassador Iftikhar Aziz were there from Pakistani side.-APP

Continued from page 12No #8

who is working in Karachi consulate on non-diplomatic post.

Continued from page 12No #9

petitioner said the deteriorating law and order situation in the province has spiraled out of controlof security agencies. 5000 persons are missing in Balochistan. It has become impossible for a com-mon man to travel in Turbat and Bolan, he added. Advocate General Balochistan Azam Khattak saidcertain elements were worsening the situation in every province.

"As to how the improvement will come when every honest officer is sent out of the province andfavorites are appointed. Traffic police stand there holding Kalashnikovs. Provincial government isdoing nothing in this respect. What has been done in the matter of kidnapping of three lawyers" ,CJPobserved. Advocate General said no report had been received from IG in this matter. Hadi Shakil advo-cate said peace in Quetta could be restored if police performed its function in befitting manner. Anything like government no more exists there. The court directed advocate general to take up the matterwith Prime Minister. The court while issuing notices to interior secretary, IG Levis, DGMI and IG FChas sought reply within three days. The hearing of the case has been adjourned till March, 2. -Online

Continued from page 1No #10

PPP will continue the policy of reconciliation. The minister said that the purpose of the recon-ciliation policy was to serve the masses. Firdous said the PPP will not take any unconstitutionalstep. She said political stability was vital for ensuring economic stability in the country. To aquestion, the Information Minister said the effort of the PML-N to form government with thehelp of Unification Block was unconstitutional. "Our target is not to rule in Punjab but to givestability to political institutions," she said, adding that it is the beauty of the democratic systemthat always majority forms the government.-Online

Continued from page 12No #11

Manzoor Ahmad Watto and MNAs, Saima Akhtar Bharwana,Syed Alauddin, Mian Abdul Sattar and Khurram Watto who calledon him at his Parliament House Chamber here. Prime Ministerwent ahead to say that Aghaz-e-Haqoo-e-Balochistan, NFC Awardand Gilgit-Baltistan package are manifestation of the resolve ofthe government. The government has utilised all the resources toprovide basic amenities to common man and to bring less devel-oped areas at par with developed cities, said he.-Agencies

There are 58 US national working in Peshawar USA consulate and only 50 have right of diplomat-ic immunity, she added.-Online

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KUWAIT: President Asif Ali Zardari in a meeting with

Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Sabah.-APP

India to start airevacuations soon

ISLAMABAD: State MinisterHina Rabbani Khar said that effortsare underway to evacuatePakistanis trapped in Libya whilefurther immediate actions would betaken if the situation worsens.

Answering to question raised byFozia Ijaz in National Assembly on

Friday, state minister said that18,000 Pakistanis are trapped inLibya while 200 Pakistanis havebeen targeted and efforts are under-way to get them out from Libya.

On the international front Westernand Latin American countries arepushing to have Libya's member-ship of the UN Human RightsCouncil put under challenge whenthe body's emergency meeting.

But the effort -- which falls shortof demanding the strife-torn North

African country's suspension fromthe 47-member council -- wasstrongly resisted by Arab and someIslamic states such as Pakistan aswell as by Russia and Cuba.

A revised draft resolution to beput before the council, in muchtougher terms than one tabled onWednesday by the European Union,recommends that the UN GeneralAssembly consider suspendingLibya from the council.

The draft also condemns "ongo-

ing and systematic violations ofhuman rights by the Libyan author-ities" -- a reference to what witness-es say have been indiscriminateattacks on civilians and protestersby the forces of leader MuammarGaddafi.

In Washington, Secretary of StateHillary Clinton said the UnitedStates -- also a member of the coun-cil and signatory to the Genevadraft text -- supported expellingLibya from the 5-year-old rights

body.But under UN rules, only the

General Assembly can suspend acouncil member that commits grossviolations of human rights. There isno provision for outright expulsion.

Furthermore the Libyan govern-ment has given India permission toland planes in the violence-hitcountry to begin the mass evacua-tion of some 18,000 Indians livingthere, foreign minister SM Krishnaminister said Friday.

Krishna told the Press Trust ofIndia (PTI) that two Air Indiaflights a day would be allowed toland in Libya from Saturday, addingto other efforts to rescue trappedcitizens by sea.

"As per the schedule informed byAir India today, two flights per dayfrom tomorrow to March 7 will beoperated," Krishna said, adding thatIndia was also considering dis-patching three warships to help inthe effort.-Agencies

UN not united over Libya Efforts underway to vacate 18000 trapped Pakistanis

LONDON: The United Stateshas warned Pakistan that oncebeyond a tipping point, thestandoff between the CentralIntelligence Agency and thePakistani Inter-ServicesIntelligence (ISI) would betaken over by political forcesthat could not be controlled.

A host of top American mili-tary officials, including JointChiefs of Staff ChairmanAdmiral Mike Mullen andISAF commander GeneralDavid Petraeus, held a secretday-long meeting withPakistan's top military officers,including Chief of Army Staff(COAS) General AshfaqKayani, in Oman on Tuesdayto plot a course out of thediplomatic crisis that threatensthe US-Pakistan relationship.

The meeting covered variousaspects of the US-Pak relation-ship, but a large portion wasdedicated to the diplomatic cri-sis surrounding RaymondDavis, the CIA contractor whowas arrested for shooting dead

two Pakistani men last monthin Lahore.

"The US had to point out thatonce beyond a tipping point thesituation would be taken overby political forces that couldnot be controlled," ForeignPolicy quoted former Pakistanarmy chief General JehangirKaramat, as writing about themeeting, referring to thereported split between the CIAand the ISI that erupted follow-ing the Davis shooting inci-dent.

US officials implored thePakistan military to step up itsinvolvement in the Davis case,following the Pakistan govern-ment's decision to pass thebuck to the judicial system onadjudicating Davis' claim ofdiplomatic immunity.However, their concerns alsowent beyond this most recentdiplomatic spat.

A senior Pakistani officialconfirmed the accuracy ofKaramat's analysis, and saidthat the Davis incident would

hopefully now be put on a pathtoward resolution following afeeding frenzy in the Pakistanimedia, which has reported onrumours of an extensive net-work of CIA contract spiesoperating outside of the knowl-edge of the Pakistan govern-ment or the ISI.

But once the Davis case isresolved, there is still muchwork to be done in repairingthe CIA-ISI relationship. TheISI is widely suspected of air-ing its anger with the CIA inboth the Pakistani and USmedia for being treated "liketheir lackeys."

"It's a spy game being playedout in the media and the CIAhas told the ISI to cut it out,"said the official, adding, "Therelationship remains testy. Butafter the meeting betweenMullen and Kayani the likeli-hood of some resolution hasincreased." The gentlemen'sagreement between the ISI andthe CIA that the two

See # 6 Page 11

Pakistan warned onISI-CIA tug-of-war

KUWAIT: President Asif AliZardari and Amir of KuwaitSheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Fridayvowed to further strengthen tiesbetween the two countriesthrough enhanced trade cooper-ation and joint ventures.

President Zardari whoarrived here this afternoon dis-cussed with Amir Sheikh Sabahthe potential of cooperation indiverse fields, for the mutualbenefit of the two countries andtheir people.

The two leaders in their talksat the airport discussed wholerange of bilateral matters, withparticular focus on increasedtrade and economic cooperation.

President Zardari said thesigning of bilateral treatybetween Pakistan and Kuwaitwould promote investment inthe two countries.

He mentioned that theKuwait-Pakistan InvestmentCompany had the potential to

expand commercially feasiblejoint ventures in upstream anddownstream petroleum and gassectors, agriculture, mines andexport of Halal meat to Kuwait.

He proposed that Kuwaitmay encourage the public sec-tor institutions such as KuwaitFund for Arab EconomicDevelopment and KuwaitInvestment Authority to investin Pakistan.

He said Pakistan had initiatedstrategic dialogue with GulfCooperation Council (GCC)and sought Kuwait's support toenhance relations with GCC.

He proposed quota enhance-ment for employing skilled andsemi skilled manpower fromPakistan and said Pakistan canwork on developing a certifica-tion system of vocational insti-tutions.

The President called for insti-tutionalising defence coopera-tion through training, militaryexchanges and cooperation

between the defence industries.Zardari urged the two coun-

tries to closely cooperate at theUnited Nations, Organisationof Islamic Conference and atother international fora.

President Zardari felicitatedSheikh Sabah on Kuwait's 50thanniversary of independence,its 20th liberation day and thefifth anniversary of his acces-sion as the Amir of Kuwait.

The Kuwait's Amir as a spe-cial gesture, had invitedPresident Zardari on his coun-try's golden jubilee celebra-tions, by sending his SpecialEnvoy Dr Maatouq Al Maatouqin December last.

President Zardari saidPakistan deeply appreciates thevisionary leadership of theSabah family that has ledKuwait to achieve tremendousprogress in last 50 years,despite the destruction wroughtby invasion and

See # 8 Page 11

Pakistan, Kuwaiteye new horizons

Zardari, Sabah vow more economic cowork

ISLAMABAD: There are 851United States officials withdiplomatic immunity inPakistan, National Assemblylearnt Friday.

This is also the largest num-ber of such officials amongcountries having diplomaticmissions in Pakistan.

The number of officials cameout as a list of foreign nationalsholding diplomatic immunitywas presented in the LowerHouse.

State Minister for ForeignAffairs Hina Rabbani Khar inwritten response presented thedetails of diplomats enjoyingdiplomatic immunity inPakistan to National Assemblyduring Question Hour.

Hina informed NA that 2,570diplomats of 78 countries pres-ent in Pakistan have diplomaticimmunity out of which 1919are appointed on diplomatpositions and 651 are workingon non-diplomatic posts.

She said that 851 US nation-als have right of diplomaticimmunity out of which 554 areworking on diplomatic postsand 297 are working on non-diplomatic posts in Pakistan.She said that 170 British diplo-mats have right of diplomaticimmunity out of which 167 areworking on diplomatic posi-tions and three are working onnon-diplomatic posts.

Rabbani told House that outof 168 diplomats of Saudi

Arabia 134 have immunity,India has 117 diplomats and 26have immunity, Germany has56 diplomats and 54 haveimmunity, Afghanistan has 60and 57 have immunity, Italyhas 61 and 34 have immunity,Turkey has 28 diplomats and25 have immunity and Iran has64 diplomats and 55 enjoyimmunity in Pakistan. She saidthat 98 of Russia, 87 of Chinaand 60 of France diplomatsalso enjoy immunity inPakistan.

She added that 31 diplomatsof Lahore US consulate, 30 ofKarachi US consulate have theright of diplomatic immunityalong with one US national

See # 9 Page 11

NA learns 851 Americansdiplomatically immune

Balochistana govt-lessprovince,CJP says

ISLAMABAD: Chief Justiceof Pakistan (CJP) IftikharMuhammad Chaudhry hasremarked if governor and chiefminister are not safe inBalochistan then what to speakof common man.

He gave these remarks whilepresiding over a 3-memberbench of SC during the courseof hearing of case pertaining todeteriorated law and order situ-ation in Balochistan on Friday.

During the hearing reportsfrom IG and secretaryBalochistan were presented inthe court.

"It is said in these reports thatwe are striving but we can donothing. We are helpless",Justice Sair Ali observed. "Itseems no government exists inBalochistan. Federal andprovincial governments aredoing nothing", he furtherremarked.

"IG is fired upon and no onecan pass through Bolan", CJPremarked.

Hadi Shakeel counsel for See # 10 Page 11

PPP notquittingPunjab:Firdous

ISLAMABAD: FederalMinister for Information andBroadcasting Firdous AshiqAwan said on Friday that thePakistan People's Party (PPP)ministers would not leave thePunjab government.

Talking to media persons out-side the Parliament House, theminister said if PakistanMuslim League-Nawaz (PML-N) expelled PPP ministers fromthe Punjab cabinet, then theparty will follow the constitu-tional course.

She said any unconstitutionalstep could damage the demo-cratic system, adding that the

See # 11 Page 11