The Financial Daily Epaper 02-10-2010

International

Nato fuel trucks take firing brunt See on 2

Attack on LHC, a conspiracy: Aitzaz See on Page 12

UN copter plunges into Manchar Lake See on Page 12

*Crude Oil (brent)$/bbl 83.15

*Crude Oil (WTI)$/bbl 80.81

*Cotton $/lb 100.20

*Gold $/ozs 1,318.80

*Silver $/ozs 22.13

Malaysian Palm $ 886.00

GOLD (NCEL) PKR 36,466

KHI Cotton 40Kg PKR 7,555

*Last Updated 20:00 PST

Yearly(Jul, 2010 up to 30-Sep-2010)

Monthly(Sep, 2010 up to 30-Sep- 2010)

Daily (30-Sep-2010)

Total Portfolio Invest (23 Sep-2010)

49.23

-36.65

3.73

2311

2.17

-2.88

0.67

1.01

-0.50

-0.38

-0.10

SCRA(U.S $ in million)

Portfolio Investment

FIPI (01-Oct-2010)

Local Companies (01-Oct-2010)

Banks / DFI (01-Oct-2010)

Mutual Funds (01-Oct-2010)

NBFC (01-Oct-2010)

Local Investors (01-Oct-2010)

Other Organization (01-Oct-2010)

(U.S $ in million)

NCCPL

GDR update

Commodities

Forex Reserves (24-Sep-10)

Inflation CPI% (Jul 10-Aug 10)

Exports (Jul 10-Aug 10)

Imports (Jul 10-Aug 10)

Trade Balance (Jul 10-Aug 10)

Current A/C (Jul 10- Aug10)

Remittances (Jul 10-Aug 10)

Foreign Invest (Jul 10-Aug10)

Revenue (Jul 10-Aug10)

Foreign Debt (Jun 10)

Domestic Debt (Jul 10)

Repatriated Profit (Jul- Aug 10)

LSM Growth (Jul 10)

GDP Growth FY10EPer Capita Income FY10Population

$16.79bn

12.79%

$3.56bn

$6.25bn

$(2.69)bn

$(944)mn

$1.72bn

$267.10mn

Rs 185bn

$55.63bn

Rs 4705.40bn

$100.90mn

3.05%

4.10%

$1,051

170.68mn

Economic Indicators

Symbols

MCB (1 GDR= 2 Shares)

OGDC (1 GDR= 10 Shares)

UBL (1 GDR= 4 Shares)

LUCK (1 GDR= 4 Shares)

HUBC (1 GDR= 25 Shares)

$.Price

2.60

17.31

2.00

1.70

9.57

PKR/Shares

112.01

149.14

43.08

36.62

32.98

T-Bills (3 Mths)

T-Bills (6 Mths)

T-Bills (12 Mths)

Discount Rate

Kibor (1 Mth)

Kibor (3 Mths)

Kibor (6 Mths)

Kibor ( 9 Mths)

Kibor (1Yr)

P.I.B ( 3 Yrs)

P.I.B (5 Yrs)

P.I.B (10 Yrs)

P.I.B (15 Yrs)

P.I.B (20 Yrs)

P.I.B (30 Yrs)

22-Sep-2010

22-Sep-2010

22-Sep-2010

29-Sep-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

01-Oct-2010

12.69%

12.82%

12.79%

13.50%

12.80%

13.07%

13.23%

13.62%

13.73%

13.85%

13.91%

14.00%

14.23%

14.21%

14.40%

Money Market Update

Symbols Buy (Rs) Sell (Rs)

Australian $ 82.70 83.70

Canadian $ 82.70 83.70

Danish Krone 14.90 15.30

Euro 116.80 118.00

Hong Kong $ 10.90 11.30

Japanese Yen 1.019 1.045

Saudi Riyal 22.85 23.05

Singapore $ 64.90 65.90

Swedish Korona 12.00 12.50

Swiss Franc 84.80 85.80

U.A.E Dirham 23.35 23.55

UK Pound 135.30 137.00

US $ 86.35 86.65

Open Mkt Currency Rates

Index Close Change

KSE 100 10,042.44 29.13

Nikkei 225 9,404.23 34.88

Hang Seng 22,358.17 20.50

Sensex 30 20,445.04 375.92

ADX 2,673.19 4.12

SSE COMP. 2,655.66 44.98

FTSE 100 5,592.90 44.28

*Dow Jones 10,820.56 32.51

*Last Updated 20:00 PST

Global Indices

Symbols Buying Selling

TT Clean TT & OD

Australian $ 83.48 83.67

Canadian $ 83.73 83.92

Danish Krone 15.79 15.82

Euro 117.66 117.94

Hong Kong $ 11.10 11.13

Japanese Yen 1.032 1.035

Saudi Riyal 22.97 23.02

Singapore $ 65.51 65.66

Swedish Korona 12.81 12.84

Swiss Franc 87.94 88.14

U.A.E Dirham 23.46 23.51

UK Pound 135.51 135.83

US $ 86.16 86.35

Inter-Bank Currency Rates

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CITIES MAX-TEMP MIN

ISLAMABAD 33°C 16°C KARACHI 39°C 24°C LAHORE 36°C 24°C FAISALABAD 37°C 22°C QUETTA 30°C 12°C RAWALPINDI 34°C 18°C

Weather Forecast

See on Page 12

INVESTORS’ GUIDELOOK FORWARD FOR OCTOBER 2010 ISSUE

Cell: 0322-260 2 838 Contact: Ahmed Omer

Email: [email protected] Phone: 35 31 18 93 - 6

LONDON: Former president Pervez Musharraf talking to

a news conference at the launch of his party in London.-Reuters

LONDON: Former PresidentGeneral (Retd) PervezMusharraf Friday announcedhis much-anticipated return tomainstream politics with anapology for the "political mis-takes" of the last years of hisregime and promised to starthis career with a "clean slate".

Launching his new banner --the All Pakistan MuslimLeague (APML) -- thousandsof miles away from Pakistan,the former president said hewould return to homeland andcontest the 2013 general elec-tions.

"On this occasion, I apologiseto the people of my country,"Musharraf, who is on self-imposed exile since the generalelection of 2009, said. The 67-year-old also said his partywould strive for friendly andpeaceful relations with India,but after peaceful resolution ofall issues.

"I acknowledge that duringthe last years of my regime,there were some decisions,which I can term as politicalmistakes," he said at a crowdedpress conference in centralLondon. "... I promise not tocommit them again. I start mypolitical career with cleanslate," he added.

He said Pakistan had madesignificant gains under his rule,and expressed dismay that theachievements of his years arebeing wasted by the presentgovernment. He said the major-ity of Pakistan's 170 millionpeople were living in poverty,while the few rich and powerfulmanipulate the law to their ownbenefit. His party, he said,would launch a "jihad againstpoverty and hunger".

Musharraf said its time toreignite the fire of the All IndiaMuslim League -- the move-ment that had succeeded in

carving out an independentPakistan in 1947. "Its time tostrive for the dream and visionof Quaid-e-Azam... Its time forall patriotic Pakistanis to uniteunder a common flag," he said.

"Was this the Pakistan forwhich we had struggled?" heasked. "An unhappy country islike a graveyard," he said.

Musharraf said "There is agrowing sense of despondencyspreading in Pakistan and thatthe threat of terrorism and adysfunctional government arecausing a crisis." "The situationin Pakistan can only be solvedwhen the military has somerole," he said.

"If you want stability, checksand balances in the democraticstructure of Pakistan, the mili-tary ought to have some sort ofrole." Musharraf claimed thatthe circumstances that forcedhim to launch a coup against

See # 13 Page 11

APML debutswith apology

Musharraf launches All Pakistan Muslim League in London

Says terror, dysfunctional govt causing crisis

Vows to raise GDP growth rate up to 6pc

BADIN: President Asif AliZardari Friday said the formermilitary dictator General(Retd) Pervez Musharrafwould find no room inPakistan for his political ven-tures, and he would remain anexile till death.

"As long as we are in thepresident house, we will con-tinue to avenge the deaths ofour martyrs in the form ofdemocracy, which is the bestrevenge", President Zardarisaid.

He said this while addressinga ceremony in connection withWaseela-e-Haq Programme atcircuit house Badin.

Earlier, the president reachedBadin on a two-day visit,where he was welcomed by

Speaker National Assembly,Dr Fahmida Mirza, who hadbeen elected from this con-stituency. Chief MinisterSindh, Syed Qaim Ali Shah,home minister, Dr ZulfikarMirza and other ministers werealso there.

Addressing the ceremony,President Zardari said PPP hadousted Musharraf with thepower of people. He added theformer military dictator wouldremain in exile for life.

Zardari's hard-hitting state-ment against Musharraf coin-cides with the launch of latter'sparty namely "All PakistanMuslim League" which wasofficially launched on Fridayfrom London.

He added the political

orphans had joined hands withpolitical actors to destabilisethe representative governmentbut they were doomed to befrustrated. The people ofPakistan would never let themsucceed in their designs, hesaid assuredly.

He said the tax would bereceived from the rich and thelandlords, adding, those whowere talking about the ills offeudal system only to polishtheir politics were just trying tofool the people. Democracy, hesaid, was flourishing in thecountry.

Zardari reiterated that thedemocratic government wouldcomplete its mandated fiveyear term.

See # 8 Page 11

Musharraf, an exilefor life, says Zardari

‘Political orphans, actors bound to fail’

KARACHI: Government ofPakistan Friday finally dis-solved loss-making PakistanElectric Power Company(PEPCO) as part of energyreforms.

Pepco was losing billions ofrupees a year, Minister for waterand power Raja Pervaiz Ashraf,told reporters in Islamabad inremarks broadcast live on tele-vision.

"We have to stop this drain,

this bleeding," said Ashraf, whoadded the move would help cur-tail the country's fiscal deficit.

The International MonetaryFund (IMF) said last weekPakistan was spending about $2billion a year to subsidise elec-tricity and it was important toreform the power sector.

Despite the subsidies, thecountry suffers from chronicenergy shortages and powercuts.

Analysts said that while dis-solving Pepco may not be adirect part of the deal with theIMF, it is a step towards energysector reforms.

"Pepco was not serving itspurpose as a holding company,so it's better that it's been dis-solved," said Khalid IqbalSiddiqui, director at Invest andFinance Securities Ltd.

Government has also See # 9 Page 11

White elephant diesas Pepco dissolved

Work on Diamer Bhasha Dam starts next month: Ashraf

Analysts say as a holding co it served no function

ISLAMABAD: The StateBank of Pakistan (SBP) hasconstituted a committee towaive the loans of flood-hitfarmers, National Assemblywas told Friday.

Minister of State forEconomic Affairs HinaRabbani Khar Fridayinformed the NationalAssembly about this develop-ment during Question Hour.

She said outstanding agri-cultural loans resting on theshoulders of earthquake/floodvictims would be written-offunder uniform policy. Shealso added that a policy inthis regard was yet to befinalised.

Responding to a question,she said no new pact had beensigned with the IMF recently.

See # 12 Page 11

Flood-hit farmerswill be loan-freed

SBP panel to ease victims put in place: Hina

No new pact was signed with IMF, NA told

ISLAMABAD: The NationalElectric Power RegulatoryAuthority (NEPRA) Fridayincreased power tariff by 2 percent for eight distribution com-panies and Karachi ElectricSupply Company (KESC) witheffect from Friday, October 1.

The Nepra reviewed the tarifffor the fourth quarter of calen-dar year 2010 in exercise ofpowers conferred by Sub-sec-tion-4 of Section-31 of theRegulation of Generation,Transmission and Distributionof Electric Power Act 1997,said a notification issued here.

Nepra's quarterly determina-tion for fourth quarter CY10 ison higher side compared with

government levied tariff for allsets of consumers.

In order to reduce the gapbetween Nepra's determinedtariff and consumer-end tariff,the government has decided tomaintain a balance in publicinterest and to pass on only 2per cent upward revision to theconsumers.

The government thereforenotified 2 per cent increase inpower tariff across the board forall categories of consumers inPepco's eight DistributionCompanies and KESC, it fur-ther said.

The said tariff increase wouldtake effect from October 1,2010. -APP

Tariff up 2pc forKESC, 8 Discos

WB nods$400mn

flood aidWASHINGTON: The World

Bank said it had approved over

$400 million (£254.4 million) in

credit to help Pakistan rebuild

from massive flooding, some of

the first aid to flow from the

lender since the disaster.

The World Bank said it

approved $300 in credit to help

pay for imports of food, medi-

cine, tents, fuel and machinery.

See # 11 Page 11

SECP’s CRS,CEES still upfor grabs foranother mth

ISLAMABAD: The Securitiesand Exchange Commission ofPakistan (SECP) has extendedthe amnesty schemes of theCompanies RegularisationScheme (CRS) and CompaniesEasy Exit Scheme (CEES), upto October 31.

These schemes were initiallyintroduced for a period of threemonths, i.e., July 1 toSeptember 30, in three phasesof one month each. Bothschemes have received an over-whelming response as 1,131companies have so far regular-ized their defaults under theCRS, and a total of 1,200 com-panies availed themselves of

See # 10 Page 11

Karachi, Saturday, October 2, 2010, Shawwal 22, Price Rs12 Pages 12

Accountability Billto be of one accord: PM

2 Saturday, October 2, 2010

TV PROGRAMMES

SATURDAY

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

Savere 11:10 Mohaaz (F)12:00 News13:10 Newsbeat (Rpt)14:10 Awam Ki Awaz15:00 News16:00 News17:30 Samaa Metro18:00 News18:30 Samaa Sports19:30 Taxi News20:05 The Anchor21:00 News22:05 Manzil23:03 Faisla Aap Ka

KARACHI: The numberof families to benefit fromthe Benazir IncomeSupport Programme(BISP) would reach twomillion in the next twoyears. This was stated bythe Chairperson of BISP,Farzana Raja.

She called on SindhChief Minister, Syed QaimAli Shah, at the CM Househere on Friday.

Special Assistant to theChief Minister, WaqarMedhi, was also present onthe occasion.

Farzana Raja informedthat under the BISP houseto house registration wouldbe undertaken.

She said that under theBISP three million familieshave been so far disbursedRs1,000 per month perfamily.

The BISP chief stated thatthe government has so fardistributed Rs50 billion andthat during the next twoyears the number of fami-lies to benefit from BISPwould reach seven million.

Farzana Raja said that Rs10 billion have been allo-cated under emergencyrelief package for the floodvictims and the first install-ment of Rs4.5 billion hasbeen dispatched so far.

She stated that of the600,000 flood victims inSindh 250,000 have beenassisted under the reliefpackage.

The BISP chief informedthat of the twenty millionflood victims in the coun-try, more than six millionare in the province of Sindhwho have already been paidRs1,000 and now the

installment of Rs 12,000each is being sent which ispart of package ofRs20,000.

She said that the firstinstallment of the BISP hasbeen sent to the post officeswhich the flood victims canreceive by showing theidentity cards.

Chief Minister SyedQaim Ali Shah said that itaugurs well that PresidentAsif Ali Zardari is initiatingthe poverty survey todayfrom the province of Sindh.

He said that the creditgoes to the PPPGovernment which underits programme has for thefirst time made headwaytowards collecting dataunder poverty survey andthat this would help con-tribute towards efforts forpoverty alleviation.-APP

7mn families tobenefit from BISP

Jamil Siddiqui

KARACHI: Richlyimbedded with theIslamic, historical andother similarities thewarm relations of Peopleand Government ofBangladesh and Pakistanare rapidly progressingfurther with explorationof more cooperation inall fields.

This was stated by theDeputy HighCommissioner ofBangladesh, Ruhul AminSiddiqui while speakingas chief guest in a recep-tion hosted by the mem-ber of Pak BangladeshFriendship Forum

(PBFF) Kalim Faruki forthe 40 member medicalteam who after servingthe flood victims in inte-rior of Sindh is on hisway back to BD.

" Besides water treat-ment plants, BD hasdonated pumps, blanketsalong with 54 trucksladen with life savingmedicines apart from $2m donation for theflood victims so far," hesaid.

Earlier the ChairmanPBFF Justice (Retd)S a e e d - u z - Z a m a nSiddiqui in his openingremarks recalled hissweet memories whileserving in former East

Pakistan and still havingclose contacts with manyBD personalities andsaid that Pakistan andBD have lot of common-alities to share.

On this occasion theleader of the BD medicalteam, Professor Dr KhanAbdul Kalam Azad brief-ing about the activitiesduring the flood reliefoperation said thatPakistan is like 2ndhome to him and his col-leagues.

In the end KalimFarooqui thanking themedical team said thatPakistanis also sharesame warmth and gesturefor their BD brethren.

Pak, BD relationsprogressing further

KARACHI: State Bankof Pakistan (SBP) deci-sion regarding theincrease of ExportRefinance Rate at 9 percent in current MonetaryPolicy is very repulsivefor our already devastat-ed trade deficit, saidFormer Chairman KCCISub-Committee forBanking and InsuranceAteeq-ur-Rehman.

Actually it will directlyeffect the export pricesand Pakistani Exportsproducts will be avail-able costly in the com-petitive world market.Pakistani Products willloose competitivenessdue to high pricing. Dueto this our exports willcertainly decline as com-pare to current level of $18 to 19 billion, he fur-

ther addedTrade Deficit of

Pakistan which is around$12 to $13 billion in2009-10 will certainlyshoot up and reach atnew heights. The pricesof raw material had goneup beyond manageableposition, which demandsextra support from thegovt. to keep the wheelsof the industry moving.Instead of support bygovt. the export ratefacility has been mademore costly. Its like tar-geting the export sectorby increasing policyinterest rate and now theEFS rate. The decisionwill devastate all thepolicies of governmentin order to enhance theexports of Pakistan", heconcluded.

KCCI slamsSBP’s policy

KARACHI: Boeing,Qatar Airways and twonon-profit agencies;America cares andInternational MedicalCorps, collaborated tobring relief goods to resi-dents in the regions ofPakistan recently devas-tated by massive flooding.

With the help of the twoagencies, Boeing andQatar Airways loadednearly 35,000 pounds(15.8 metric tones) ofmedicine and medicalsupplies into the cargohold of the airline's new777-300ER, it was stated.

"Boeing, through itsGlobal CorporateCitizenship organisation,supports disaster responsearound the world in part-nership with non-govern-

mental agencies and non-profits," said Liz Warman,Director, GlobalCorporate Citizenship -Northwest Region."Through this collabora-tive effort, we hope tobring relief to the peoplestill suffering from thedevastating floods."

Akbar Al Baker, theCEO of Qatar Airways,who offered the deliveryflight for positioning therelief supplies toPakistan, said his airlinewas happy to contributeto the relief efforts. "Thedelivery of relief goods tonations in need is inherentto our mission as a globalairline and a facilitator ofthe State of Qatar's reliefaid program," said AkbarAl Baker.-PR

Boeing, QatarAirways deliver

relief goods

NBP takeslegal action

againstRoyal TV

KARACHI: National Bankof Pakistan (NBP) has takenlegal action against RoyalTV Royal TV, its newsanchors and its Managementand filed a defamation Suitagainst the Royal TV inSindh High Court, said apress release issued here.

The action was taken inreaction to recent set of pro-grammes at Royal TVapparently aimed at expos-ing corruption and influencein High Offices. In one ofthese programs Royal TVstarted making absurd andincorrect allegations againstNational Bank of Pakistan("NBP") and its senior man-agement.

Recently in the month ofSeptember 2010 Royal TVin its program "StraightTalk" hosted by Faisal Buttbegan making direct attacksagainst NBP, its senior man-agement and its performanceof last 10 years.-PR

ACCAtrains career

advisorsKARACHI: ACCAPakistan organised a one-day Career Counselingworkshop for teachers andstudent advisors at a localhotel in Karachi, said a state-ment issued here on Friday.

The workshop was basedon the concept that the bestcareer exploration and jobsearch strategies capitalizeon the natural strengths of anindividual's Personality andBehavioral Style.

Shamez Mukhi, Head ofMarketing, Communicationand Media Relations, ACCAPakistan welcomed the par-ticipants, explaining thechallenges students and par-ents encounter while makingcareer choices and theresources developed byACCA for students, teachersand parents. Speaking on theoccasion he added, "One ofthe aims of the workshop isto ensure that ACCA recruitsstudents with the right apti-tude, who are ambitious andcommitted to their careers sothat they can excel as ACCAmembers".-PR

31 Denguecases

reportedon Friday

KARACHI: The DengueSurveillance Cell - Sindh inits report released onFriday said 31 new cases ofdengue were reported at 12different government andprivate hospitals in cityduring the past 24 hours.

Coordinator of theSurveillance Cell, DrShakeel Mullick said sinceearly this year 622 suspect-ed dengue cases werereported at different hospi-tals and 412 of them werefound to be positive while210 were diagnosed nega-tive.

He said 68 patients con-firmed to be dengue posi-tive are still under treat-ment in different facilities.

On Friday he said 19patients were dischargedafter getting fully recov-ered against the ailment.

Dr Shakil Mullick urgedthe citizens not to get pan-icked as dengue fever waslargely preventable andpeople in general needed tobe careful about hygieneand cleanliness in theirhouses as well in their sur-roundings.-APP

PTA electsits new

chairmanStaff Correspondent

KARACHI: The generalbody of Pakistan TannersAssociation (SZ) electedAziz Ahmed of AMALeathe Industry unopposedas Chairman and Hamid AZahur of Noor LeatherGarments, as ViceChairman for year 2010-2011.

The newly elected mem-bers managing committeefor the next two years are;M Saleem Ahmed, KhwajaMasood Ahmed, FarazMannan, and DanishNaseem. Aziz Ahmed hasalso been elected ViceChairman of PTA central.

Addressing to the PTAmembers on the occasionof AGM, the newly electedchairman said that thecountry is passing througha very crucial phase and theeconomy is in shambles.He said that the leather sec-tor too, would be facing acrisis like situation due tothe massive floods.

AHI opensthe endsof PPFL

KARACHI: The ShareHolders of PakistanPremier Fund Limited(PPFL) in their AnnualGeneral Meeting (AGM)have approved the conver-sion of the Fund into anOpen End fund subject tothe approval of theSecurities and ExchangeCommission of Pakistan(the "SECP") and fulfill-ment of all legal and regu-latory formalities, said apress release issued here.

The special resolutionsfor the above said purposehave been passed unani-mously by the share hold-ers present in person or asproxies in the meeting whowere entitled to vote there-at. The special resolutionspassed in AGM areannexed to this letter.-PR

KARACHI: Chairman of Pakistan Bangladesh Friendship Forum Justice (Retd)Said-uz-Zaman Siddiqui, hosted a reception in honour of the 40 membersdoctors delegation from Bangladesh for the help of recent massive flood.

Picture shows Bangladesh Deputy High Commissioner Ruhul AlamSiddiqui, and Kalim Farooqui with other guests and doctors.-PR

KARACHI: Zeeshan Qureshi and Roy Chang alongwith the HHP and PR team at the announcement ofGalaxy Tab, which is the first mobile tablet with the

most powerful smart phone features, a brilliant7-inch enhanced TFT display screen and 1GHz

Hummingbird Application processor supporting3D graphics.-PR

LAHORE: ZONG’s Keep Phone On (KPO) rewardprogram’s lucky draw was held recently in which

one lucky winner from Faisalabad received a car forkeeping his phone on. The picture shows Regional

Director handing over the car to lucky winnerMuzammal Hussain of Faisalabad.-PR

KARACHI: Annual election result of the Travel Agents Association ofPakistan announced in 33rd Annual General Body Meeting. M Yayha

Polani was elected Chairman of the association.-PR

KARACHI: Governor Sindh Dr Ishratul Ebad Khan addressing Karachi University students duringan interactive session with them at Governor House.-APP

Staff Correspondent

KARACHI: SenatorAbdul Haseeb Khan hassaid that the only optionremains for Pakistan toflourish is to fulfill thevision of Quaid-e-AzamMohammed Ali Jinnah inletter and spirit.

While speaking on the4th launching ceremonyof his authored book"Pakistan Kay Hakim"hosted by the Federationof Pakistan Chamber ofCommerce and Industry(FPCCI) at its auditori-um and attended by alarge number of businesscommunity and elites of

city from all walks oflife on Friday he saidthat without naming anyruler he has narrated allthe good and bad activi-ties which occurred inlast 60 years of Pakistan.

He said that unfortu-nately the vision ofQuid-e Azam was put inback burner and onlypersonal agendas forloot and plunders wasunleashed which hasshaken the very exis-tence and motivation ofthe objectives for thecreation of Pakistan.

In his opening remarks,President FPCCI SultanAhmed Chawla said that

FPCCI fully endorses thestartling disclosures inthe book and said thatsuch a bold attempt is aneye opener for the pres-ent rulers to mend theirways for the bettermentof the country.

On this occasionPresident Pakistan IndiaCCI & former PresidentFPCCI SM Muneer saidthat soon after thelaunching the apprecia-tion and popularity of thebook shows the true anddark era of the past ofthe country and urged thepresent rulers to followthe foot steps with thegood governance.

Pak can onlyflourish on Quaid’s

vision: senator

Staff Reporter

KARACHI: Governor ofSindh, Dr Ishrat-ul-Ebad,announced the formationof a volunteer educationprogram to be aviated byUniversity of Karachi inwhich 0.15 million stu-dents would take part; theprogram is based onteaching illiterates toread and write.

Dr Ishrat-ul-Ebad wasresponding to a questionsand answer session inwhich more than 100 stu-dents of KU participated,along with Prof DrPirzada Qasim Raza

Siddiqui, Pro Vice-Chancellor, Prof DrShahana Urooj Kazmi.

Dr Ebad also stressedthe need to channelise thestudents' enthusiasmwhich was exemplary involunteering for the aidof flood victims and laud-ed the spirit shown incoming to the GovernorHouse for helping in thepacking of gifts for theflood affectees.

Dr Ebad stated said thatthe youth are frustratedabout the problems oftheir country but nationbuilding needs time andpatience. He said that the

problems of Pakistanwere more diverse thanother countries of thesame age like, India andChina. He remarked thatout of the total votes cast-ed in the last elections,only 12 to 15 per centwere literate votes.

The Governor, who isalso the Chancellor ofpublic sector universitiesin the province, said thatsteps are being taken forresolving the problems ofthe universities. Hepointed out that the pres-ent government isendeavouring to bringreforms in the education

sector.The students taking part

in the volunteer educa-tion program will eachteach five to six illiteratepeople to read and write.The Governor alsostressed the need for vol-unteer work to made partof the curriculum withthe incentives of 10marks and certificates.

The Vice Chancellor,Dr Peerzada Qasim RazaSiddiqui praised the stu-dents' enthusiasm aboutvolunteer work and high-lighted the varsity'sefforts in raising and theaid of flood victims.

Governor forms volunteer education program

Illiterates to geteducation, vows Ebad

TAIPEI: The Taiwan dollarrose to a more than two-yearclosing high on Friday afterinvestors saw the central bank'sinterest rate increase as a voteof confidence in the economy'sgrowth prospects.

The Taiwan dollar, alongwith most other Asian curren-cies, rose against the US dollarin the third quarter, with theUS currency weighed byexpectations that the FederalReserve will take more actionto sustain the sputtering eco-nomic recovery.

The Taiwan dollar opened atT$31.330, unchanged fromThursday's close, but strength-ened to an intraday high ofT$31.066 before last-minuteintervention by the centralbank erased most of earlygains. It closed at T$31.310.

"It's been fund inflowsrecently that drove the Taiwandollar higher. It just edgedhigher a bit every day," said

one dealer at a foreign bank inTaipei.

Another dealer at a localbank said the central bank triedto prevent the Taiwan dollarfrom breaking the T$31.00 bar-rier. Taiwan's central bank hasbeen seen intervening recentlyto counter the impact of astronger Taiwan dollar onexporters.

Dealers expect the Taiwandollar to trade betweenT$31.050-T$31.300 nextweek. -Reuters

Taiwan $ extendsgains after rate hike

3Saturday, October 2, 2010

Currency Rates

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

British Members Association Interest Settlement Rates.

AT 11:00 LONDON TIME 01/10/2010

A USD GBP CAD EUR JPY

O/N 0.22813 0.55125 1.04500 0.61875 SN 0.10500

1WK 0.25025 0.55328 1.06500 0.61625 0.11750

2WK 0.25219 0.55688 1.09333 0.64125 0.12625

1MO 0.25688 0.57094 1.11333 0.67250 0.14000

2MO 0.27359 0.62531 1.16500 0.73375 0.17125

3MO 0.29063 0.73475 1.23000 0.88875 0.21500

4MO 0.34469 0.81734 1.28833 0.95875 0.30875

5MO 0.40813 0.92375 1.34667 1.05125 0.36625

6MO 0.46313 1.02641 1.41167 1.16000 0.42625

7MO 0.51344 1.10234 1.48000 1.21375 0.48313

8MO 0.56375 1.18234 1.56500 1.25875 0.53125

9MO 0.61203 1.26484 1.63333 1.30625 0.58063

10MO 0.66531 1.33766 1.70167 1.35500 0.60750

11MO 0.71844 1.40641 1.79667 1.39750 0.63063

12MO 0.77838 1.47203 1.87583 1.44375 0.66000

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

U.S.A. 86.35 86.15 85.96

U.K. 135.83 135.51 135.20

EURO 117.94 117.66 117.40

CANADA 83.92 83.73 83.51

SWITZERLAND 88.14 87.94 87.70

AUSTRALIA 83.67 83.48 83.26

SWEDEN 12.84 12.81 12.77

JAPAN 1.03 1.03 1.03

NORWAY 14.71 14.68 14.64

SINGAPORE 65.66 65.51 65.34

DENMARK 15.82 15.79 15.75

SAUDI ARABIA 23.02 22.97 22.91

HONG KONG 11.13 11.10 11.07

CHINA 12.91 12.88 12.84

KUWAIT 303.28 302.58 301.78

MALAYSIA 27.99 27.92 27.85

NEW ZEALAND 63.65 63.51 63.34

QATAR 23.72 23.67 23.60

U.A.E. 23.51 23.46 23.39

KR WON 0.08 0.08 0.08

THAILAND 2.86 2.85 2.84

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

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

ABPL 11.60 12.10 11.90 12.40 12.10 12.60 12.85 13.10 13.00 13.25 13.10 13.60 13.25 13.75 13.30 13.80

ABLN 11.85 12.35 12.15 12.65 12.40 12.90 12.80 13.05 12.95 13.20 13.10 13.60 13.25 13.75 13.35 13.85

JSBL 11.60 12.10 12.10 12.60 12.25 12.75 12.95 13.20 13.05 13.30 13.40 13.90 13.40 13.90 13.75 14.25

ASPK 11.65 12.15 12.15 12.65 12.35 12.85 12.80 13.05 13.00 13.25 13.10 13.60 13.20 13.70 13.25 13.75

CIPK 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

DBPK 11.60 12.10 11.90 12.40 11.95 12.45 12.75 13.00 12.90 13.15 13.15 13.65 13.25 13.75 13.35 13.85

FBPK 11.40 11.90 11.75 12.25 12.10 12.60 12.75 13.00 13.00 13.25 13.10 13.60 13.15 13.65 13.40 13.90

F LAH 11.70 12.20 12.20 12.70 12.30 12.80 12.80 13.05 12.95 13.20 13.00 13.50 13.20 13.70 13.30 13.80

HBPK 11.80 12.30 12.10 12.60 12.40 12.90 12.85 13.10 13.05 13.30 13.15 13.65 13.20 13.70 13.30 13.80

HKBP 11.60 12.10 11.90 12.40 12.20 12.70 12.80 13.05 12.95 13.20 13.05 13.55 13.20 13.70 13.30 13.80

NIPK 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

HMBP 11.90 12.40 12.30 12.80 12.55 13.05 12.85 13.10 13.10 13.35 13.20 13.70 13.30 13.80 13.40 13.90

SAMB 11.80 12.30 12.25 12.75 12.45 12.95 12.85 13.10 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85

MCBK 11.75 12.25 12.25 12.75 12.45 12.95 12.70 12.95 12.90 13.15 13.10 13.60 13.20 13.70 13.40 13.90

NBPK 11.60 12.10 11.80 12.30 12.10 12.60 12.80 13.05 12.80 13.05 12.80 13.30 12.85 13.35 13.00 13.50

SCPK 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

UBPL 11.65 12.15 12.15 12.65 12.40 12.90 12.85 13.10 13.00 13.25 13.15 13.65 13.25 13.75 13.35 13.85

AVE 11.67 12.17 12.08 12.58 12.30 12.80 12.82 13.07 12.98 13.23 13.12 13.62 13.23 13.73 13.34 13.84

London Inter Bank Offered Rates (LIBOR)

Karachi Inter Bank Offered Rates (KIBOR)

Name Bid Ask High Low

EUR-USD 1.3772 1.3774 1.3778 1.3621

EUR-GBP 0.8698 0.8701 0.8704 0.8663

EUR-CHF 1.3447 1.3452 1.3462 1.3366

EUR-JPY 114.79 114.81 114.8 113.77

USD-CHF 0.9762 0.9766 0.9841 0.975

USD-CAD 1.0199 1.0203 1.0311 1.0193

GBP-USD 1.5833 1.5837 1.5872 1.5707

GBP-JPY 131.96 132 132.07 131.11

Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)01/10/2010

As per 22.00 PST

CMKA BMA INVSR GSL ICSL JSCM AvgRate

0-7days 11.80 11.60 11.70 11.50 11.50 11.70 11.63

8-15dys 12.20 12.10 12.15 12.00 12.20 12.15 12.13

16-30dys 12.45 12.35 12.30 12.40 12.40 12.30 12.37

31-60dys 12.70 12.40 12.50 12.75 12.70 12.55 12.60

61-90dys 12.85 12.75 12.70 12.90 12.75 12.70 12.78

91-120dys 12.90 12.90 12.85 13.00 12.85 12.85 12.89

121-180dys 13.00 13.00 12.95 13.00 12.90 12.95 12.97

181-270dys 13.05 13.15 13.00 13.05 13.05 13.00 13.05

271-365dys 13.15 13.15 13.15 13.25 13.15 13.15 13.17

2-- years 13.50 13.45 13.45 13.40 13.80 13.45 13.51

3-- years 13.85 13.85 13.85 13.85 13.85 13.85 13.85

4-- years 13.85 13.90 13.60 13.80 13.90 13.60 13.78

5-- years 13.90 13.90 13.90 13.90 13.95 13.90 13.91

6-- years 13.90 13.98 13.70 13.92 14.00 13.70 13.87

7-- years 13.90 14.00 13.75 13.95 14.00 13.75 13.89

8-- years 13.85 13.70 13.65 13.95 14.00 13.65 13.80

9-- years 13.90 13.70 13.67 13.99 13.75 13.67 13.78

10--years 14.08 13.97 13.97 14.00 13.98 13.97 14.00

15--years 14.25 14.15 14.20 14.25 14.30 14.20 14.23

20--years 14.35 14.30 14.40 14.30 13.50 14.40 14.21

30--years 14.50 14.50 14.60 14.50 13.70 14.60 14.40

Revaluation RatesTreasury Bills / PIBs / FIBs Holding Applicable for October 01, 2010

Source Events Actual Forecast Previous

JPY Household Spending y/y 1.7% 1.4% 1.1%

JPY Tokyo Core CPI y/y -1.0% -1.0% -1.1%

CNY Manufacturing PMI 53.8 52.5 51.7

EUR German Retail Sales m/m -0.2% 0.5% -0.4%

AUD Commodity Prices y/y 52.4% 52.7%

CHF Retail Sales y/y 0.5% 3.2% 4.7%

CHF SVME PMI 59.7 60.8 61.4

GBP Manufacturing PMI 53.4 53.9 53.7

EUR Unemployment Rate 10.1% 10.0% 10.1%

USD Core PCE Price Index m/m 0.1% 0.1% 0.1%

USD Personal Spending m/m 0.4% 0.4% 0.4%

USD Revised UoM Consumer Sentiment 68.2 67.1 66.6

USD ISM Manufacturing PMI 54.4 54.6 56.3

Previous Day

Central Bank Next Meeting Last Change Current

Interest Rate

Bank of Canada Oct 19 2010 Sep 08 2010 1%

Bank of England Oct 07 2010 Mar 05 2009 0.50%

Bank of Japan Oct 05 2010 Dec 19 2008 0.10%

European Central Bank Oct 07 2010 May 07 2009 1%

Federal Reserve Nov 03 2010 Dec 16 2008 0.25%

Swiss National Bank Dec 16 2010 Mar 12 2009 0.25%

The Reserve Bank of Australia Oct 05 2010 May 04 2010 4.50%

Major Central Banks Overview

Division of National Bank of Pakistan (NBP)KARACHI, October 01,2010 Treasury Management Division of National Bank ofPakistan (NBP) Monday issued the following Exchange rates:

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

1 week 0.97 0.92 0.81 0.92 0.73 0.97 -0.28 -0.92

1 month 0.90 0.89 0.98 0.94 0.96 0.67 -0.63 -0.94

3 months 0.76 0.34 0.65 0.67 0.79 0.78 -0.68 -0.56

6 months 0.86 0.15 0.57 0.65 0.74 0.70 -0.67 -0.65

1 year 0.52 0.83 0.85 0.92 0.88 0.60 0.30 -0.67

2 years 0.37 0.53 0.46 0.77 0.69 0.39 -0.25 -0.64

Currencies CorrelationEUR/USD

NEW YORK: The dollar hit asix-month low versus the euroon Friday after a FederalReserve official said USgrowth has been generally dis-appointing, which strength-ened the case for more quanti-tative easing.

More action by the Fed toboost growth will likely be war-ranted unless the outlookimproves, William Dudley,president of the New York Fed,said on Friday.

Stronger-than-expected dataon US personal income andconsumption data for Augustdidn't help the dollar, whoseweak trend is firmlyentrenched. The safe-havendollar was also suffering froma return of risk appetite after

the US data and a report show-ing Chinese manufacturingwas stronger than expected.

"The only chance to keep thedollar supported for the nearterm is if the numbersstart looking better,"said Ron Rimpson,director of FXresearch at ActionEconomics in Tampa,Florida.

"A lot of the futurefor the dollar is goingto depend on the data.If the data stays decent, the mar-ket will start to price out quanti-tative easing.

The euro rose to $1.3778, itshighest since mid-March,according to the EBS tradingplatform, breaking through

resistance around $1.3692, apeak hit in April. Markets alsotook out key option barriers at$1.3700 and $1.3750, traderssaid, but a further barrier looms

at $1.3800.After that $1.38 level, the

next big target is $1.3897, the61.8 per cent Fibonacciretracement of the move fromthe November 2009 peak andthe June 2010 low.

In midmorning New Yorktrading, the euro was up 0.8 percent at $1.3740.

Losses against the euro helpedpush the dollar lower against a

c u r r e n c ybasket, withthe dollari n d e xfalling to78.100, itsl o w e s ts i n c eJ a n u a r y .The index

fell more than 5 per cent inSeptember, its worst monthlyperformance since May 2009.

A weak US manufacturingsurvey, showing a fall in theInstitute for SupplyManagement's index to 54.4 last

month from 56.3 in August, alsopressured the greenback.

Dollar weakness also pro-pelled the Australian dollar to afresh two year high versus theUS currency at US$0.9751.

The dollar slipped 0.2 per centto 83.26 yen, edging closer to a15-year low of 82.87 yen hit lastmonth. Traders and analysts saya fall below that level may beone potential trigger point formore intervention.

Japanese banks are said to beon the bid in dollar/yen between83.15 yen, a post-interventionlow, and 83.35.

Japanese Finance MinisterYoshihiko Noda said on Fridayhe would continue to take deci-sive steps on currency moveswhen necessary. -Reuters

Dollar drops to 6-mth lowagainst euro; Dudley weighs

Speculation of more Fed QE batters US currency

MUMBAI: The Indian rupeeposted its best weekly gain innearly nine months on Fridayboosted by robust portfolioinvestments and tracking broadlosses in the dollar versusmajor currencies overseas.

The partially convertiblerupee closed at 44.47/48 perdollar after hitting 44.46, itsstrongest since April 30 and 1.1per cent above Wednesday'sclose of 44.94/95.

The foreign exchange marketwas closed on Thursday forhalf yearly closing of banks'accounts.

"Asia on the whole hasstrengthened against the USdollar, our story remains identi-cal," said Ananth Narayan G.,head of fixed income, foreignexchange and commoditiesSouth Asia at StandardChartered Bank in Mumbai.

"Capital inflows andprospects of more in the nearfuture is helping, with possiblyoil and import covering seen."

The rupee gained 3.4 per centin the September quarter whenforeigners moved more than$11 billion into Indian stocks,chasing potentially betterreturns in the fast-expandingeconomy.

Net equity inflows in 2010now stand at a record $19.2 bil-lion, above last year's $17.5billion.

Dealers said they see the nextresistance at 44.30 levels,before the unit heads towards44.

One-month offshore non-deliverable forward contractswere quoted at 44.66, weakerthan the onshore spot rate.

In the currency futures mar-ket, the most traded near-month dollar-rupee contractson the National StockExchange, MCX-SX andUnited Stock Exchange allclosed at 44.6725, with thetotal traded volume on thethree exchanges at about $8.4billion. -Reuters

Indian rupee postsbest weekly

rise in 9 months

SYDNEY/WELLINGTON: The Australian dollarheld firm on Friday, underpinned by surprisinglystrong Chinese manufacturing data and intensespeculation domestic interest rates will resume theirascent next week.

The Aussie dollar was hovering at $0.9664, upfrom an early $0.9637 low and not far from a two-year high of $0.9734 struck overnight. It has gained1 per cent for the week after rising over 8 per centfor all of September.

The Aussie also hit its highest level on sterlingsince 1985 around 0.6170 pounds.

Helping was the closely watched China PMIindex which rose to 53.8 in September, handilybeating forecasts of 52.0 and quashing worries theeconomy might slow too far. China is a major buyerof Australian commodities, and a major determinantof prices, so signs of a revival in production as con-sidered positive for exports and domestic growth.

"The RBA is looking out to 2011 and 2012 andsees a mining investment boom here fuelled byChinese demand," said Rob Henderson, chief mar-

kets economist at National Australia Bank."That boom is coming when the economy is

already near full capacity, so rates have to rise tohead off inflation."

He expects the cash rate to rise 25 basis points to4.75 per cent on Tuesday, and most of his peersagree. A Reuters poll of 23 economists found fully18 expected a hike with five for no change.

The NZ dollar steadied at $0.7350, after hitting an8-day high of $0.7409 in offshore trade.

But the kiwi was seen unable to mount a seriouschallenge above the $0.74 barrier, and is seen likelyto be trapped in its broad range of $0.73 to $0.74,where it has been hovering for most of the week.

The kiwi also recouped some losses against theeuro as broader risk appetite improved, helpingthe kiwi back to 0.5395 euro from a four-monthlow of 0.5374 The Aussie remained firm on theKiwi at NZ$1.3144, just below a five-month peakof NZ$1.3176 struck in offshore trade, with high-er yields and a relatively stronger Australia econ-omy backing its currency. -Reuters

Aussie firm on upbeatChina data, rate outlook

SEOUL: Asian currencies roseon Friday as foreign investmentscontinued to flow into theregion, once again promptingauthorities to intervene and pre-vent their currencies from risingtoo quickly.

The Korean won led thecharge, helped by stronger thanexpected exports and inflationdata, while the Thai baht hit a13-year high.

Foreign exchange authoritiesin Asia have intervened all weekto try to control the rise in theircurrencies. They bought $16 bil-lion through intervention thisweek, IFR, a Thomson Reutersservice, said.

Sentiment was further support-ed by data showing Chinese

manufacturing picked up steamin September, easing concerns ofa renewed downturn in globalgrowth.

The won hit a 4-1/2-monthhigh against the dollar althoughestimated intervention of morethan $2 billion capped itsstrength. The won ended domes-tic trade up 0.9 per cent at1,130.4 against the dollar fromThursday's close of 1,140.2. Itrose as far as 1,130.0, the highestlevel since May 14.

Foreign investors alsoremained net buyers of localshares, which hit a 28-monthclosing high on Friday. Theybought 454.1 billion won instocks, the thirteenth consecu-tive session of net buying and

the longest streak since April.The baht rose to a 13-year high

of 30.11 against the dollar amidsporadic intervention from theBank of Thailand (BOT).

The Philippine peso roseslightly, although trade was sub-dued because the central bankhas been present to hold the cur-rency back from rallying beyond43.88 for the last two weeks.

Traders said a good marketresponse to the government'sglobal peso bond, a persistentlyweak dollar and upbeat Chinesemanufacturing data all suggestedthe peso should be rising.

"If the central bank suddenlydisappears, 43.60 is the nexttarget for the peso," the tradersaid. -Reuters

Asian currencies

Intervention billmounts as Asia FX rises

LONDON: Sterling roseagainst a broadly weaker dol-lar on Friday, but gains werechecked as worries about thepossibility of more monetaryeasing in the UK weighed anddrove it to a four-month lowon the euro and a currencybasket.

Data on Friday showedactivity in Britain's manufac-turing sector weakened more

than expected in September,growing at its slowest pace in10 months as export orders fellfor the first time in more thana year.

The figures are likely toreinforce concerns thatBritain's recovery is falteringafter strong growth in the sec-ond quarter, and could lendweight to Bank of Englandpolicymaker Adam Posen'scall for more stimulus.

However, analysts said ster-ling's moves were drivenmostly by developments in the

dollar, which remained underheavy selling pressure againstmost currencies on concernsthe United States may have topump more cash into its ailingeconomy.

At 1452 GMT, the euro wasup 0.17 per cent at 86.91pence, having hit a four-monthhigh of 87.04 pence. The europushed trade-weighted sterlingas low as 79.8 its weakest

since June 1, before it edgedup to 80.0.

Against the dollar, the poundwas up 0.66 per cent at$1.5810, having earlier risen 1per cent to a session high of$1.5874.

Traders said the pound washelped against the dollar bymodel fund buying and earlierAsian central bank buying.They said the next targets wereThursday's seven-week highof $1.5924, with an optionsexpiry reported at $1.5950 anda barrier at $1.600. -Reuters

Stg gains on $ buthits 4-mth low vs euro

Swiss francrises versuseuro, dollar

ZURICH: The Swiss francclawed back some of the previ-ous day's losses against theeuro on Friday, as the marketawaited key Swiss economicdata, after upbeat news fromthe Chinese economy had sup-ported the common currency.

After soaring to an all-timepeak of 1.2763 on Sept 8, thefranc, which investors regard as asafe haven, has been weakeningagainst the euro and finished themonth of September at its lowestlevel since mid August. Thefranc rose 0.2 per cent against theeuro compared to the New Yorkclose, trading at 1.3372 per euroat 0637 GMT. The franc rose 0.3per cent against the dollar to0.9796 per dollar, within sight ofrecent 30-month highs around0.9706.

"I think will see a countermove (to yesterday's drop) andwe'll fall back into the oldrange of 1.3050-1.3350," aZurich-based trader said.

Others, however, saw theeuro-franc rising and testingkey resistance levels.

"The dynamics of the moveindicates that 1.3460 or even1.3525 may be tackled," ana-lysts at St. Galler Kantonalbanksaid in a note. -Reuters

Baht hits new 13-yr high, won at 4-1/2-mth high

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

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

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

accuracy and completeness cannot be guaranteed. The Financial Daily

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

use of these reports and recommendations.

Pushingeconomyinto ruins

A quick review of the prevailing economicscenario clearly indicates that Pakistanis arecollectively responsible for the prevailing pre-carious economic conditions. We have notlearnt any lesson from the history. The habit ofsweeping the issues under the carpet and theefforts to maintain status quo have added to thewoes. Various reports prepared by the multilat-eral institutions have repeatedly pinpointed theimpediments and the policy planners are alsocognizant of these but when it comes to prepar-ing policies and their implementation, protect-ing vested interest groups prevails.

The State Bank of Pakistan has been follow-ing tight monetary policy to contain inflationdespite opposition by the experts. The otherday policy rate was increased by 50 basispoints. Experts had made it very clear thatinflation in last couple of months spiked main-ly because of profiteering during Ramadan anddisruption of logistics in the aftermath offloods. With the receding water and timelyimport of the essential items, their prices arealso sliding down. However, the decision mak-ers didn't pay any heed to the experts' com-ments and opted for hike in interest rate. Thiswill not only make government borrowingmore expensive but also push up the cost ofdoing business. It is also on record that higherinterest rates force the entrepreneurs to defertheir investment decisions, which doesn't allowproduction of exportable surplus, increase inrevenue collection and above all help in pover-ty alleviation. The jobless rate is on the rise andworking class is experiencing erosion in pur-chasing power.

The Government has agreed with theInternational Monetary Fund to imposereformed general sales tax (RGST) effective1st October despite disapproval by the businesscommunity. Pakistanis are right in demandingthat if the present regime is not willing to cutdown its extravaganzas, it also does not havethe right to impose new taxes on people, partic-ularly those already paying tax. The successivegovernments have failed in increasing the num-ber of taxpayers because pressure groups con-tinue to enjoy exemptions. The rulers fail toabide by the basic premise 'all sorts on incomeirrespective of the source are liable to pay tax'.

Experts are of the opinion that with the intro-duction of proposed RGST prices of over 122major categories, including food items willescalate up to 20 per cent, depending on the taxrate to be decided by the federal government,and yield about Rs150 billion in additionalrevenue to the national exchequer. However,one fails to understand how the governmentwould mobilize the amount in the absence ofnecessary collection infrastructure and resent-ment by the business community. Collectingmore taxes may satisfy the multilateral lendersbut it would remain meaningless without elim-inating mis-declaration of income by the taxpayers and eliminating wasteful expendituresby the government.


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

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The Financial Daily InternationalVol 4, Issue 58

Sohail R Siddiqui

At the advent of supremacy oflaw, politicians in Pakistan areat the crossroads. They must

decide between being rulers or publicservants. They must decide betweengenuine democracy or autocracy.They must decide whether to supportthe truth or support self interest.

If they choose to be public servantsthen greater good of the people shallbe the top priority and resemblanceto the masses shall be the agenda.They must minimize the increasinggap between them and their voters.They must keep their permanent res-idence in their respective constituen-cies. They ought to destroy therulers' image and entitlements. Theymust not look different. They mustnot feel different. They must not actdifferent. A common voter's life is asprecious as their own or their family

members. A common man's basicneeds must be met. It is extremelyundesirable for an elected represen-tative to keep distance from his vot-ers or look different. De facto rulersor tyrants need security, protocol anda different façade because they arenot among the masses. They cannotbe true leaders.

If our politicians honestly preferdemocracy then they have to let gotheir personal egos and implementimpartiality. Merit must be upheld.Core democratic values must be prac-ticed at all levels of political hierar-chy. No one is above the law.Individual's rights must be protected.From a common voter to a seniorparty member, everyone has the rightto express his/her opinion. Politiciansshould exhibit tolerance and oppo-nents or political rivals need not to bedefamed or victimized. No individualshould be favored over other person

or group in and out of the party.Political system must be free ofhereditary or persona politics and/orinfluence.

Lastly, if our politicians opt to sup-port the truth then they must vote as aPakistani in the best interest of thenation much above their party politicsor self-interest. It is a dilemma thatour politicians particularly the electedrepresentatives who take oath in thename of Pakistan for its solidarity,integrity and prosperity act accordingto their parties' perspective as a work-er. Though, pursuant to support thetruth demands that they must testifythe fact and wholeheartedly admit andstand besides the right action/s even ifthat has been taken by their predeces-sors or challengers. They must "standwith anybody that stands right, standwith him while he is right and partwith him when he goes wrong"(Abraham Lincoln).

God forbid that our political punditsshould again demonstrate lack of wis-dom and hindsight. God forbid thatthey should ever turn back to becomerulers, support autocracy and/or pur-sue self-interest because that all leadsto destruction, disintegration andfinally red-revolution. Yes it is truethat, "there is no right way to dowrong" but if we keep doing the samething, we will keep getting the sameresults. Let us not merge or concedeto the situation where "necessityoverrides every law" and the unwant-ed change becomes inevitable. Lets uscease the crosstalk and collectivelyseek a solution. Let us employ uncon-ventional wisdom to bring positiveand progressive changes to the sys-tem. God forbid that we just tradefaces again because this may be ourlast chance.

The author is an internationalmanagement consultant.

Righting the wrong

Chrystia Freeland

Get ready for the nextwave of globalization.The emergence of the

emerging markets is old news,of course: after all, TomFriedman discovered that theworld was flat back in 2005.But even as much of the devel-oped world is struggling withweak consumer demand andstubbornly high levels ofunemployment, the emergingmarket countries are writing anew chapter in the story of theglobal economy.

We are accustomed to think-ing of our economic relation-ship with the countries FareedZakaria describes as "the rest"as a two-way exchangebetween west and east or northand south: western companiessetting up call centers in Indiaor manufacturing their goods inChina, for instance; and, morerecently, savings-rich emerging

market economies, especiallyChina, investing in US treasur-ies, or Russian oligarchs buy-ing London mansions.

That was Globalisation 1.0.In the next stage, some of thebiggest deals and some of themost important capital flowswill be between emerging mar-kets, with no need to stop-overat Heathrow or JFK. Forget thelast decade's race-to-the-bot-tom rivalry between Wall Streetand the City of London to bethe world's financial capital;the new motto of the money-men, as one Manhattan bankerput it to me this week, is"Mumbai, Dubai, Shanghai orgoodbye."

One place you can watchGlobalisation 2.0 gatheringpace is on the 49th floor of the'C' tower in the high-tech high-rise complex the locals callMoskva City, on the banks ofthe Moskva river, half a miledownstream from Russia'sWhite House, where PrimeMinister Vladimir Putin is cur-rently installed. The fancymodern furniture (the "Ziricoteveneer," a sign informs visitors,is "sourced in Chile") and con-temporary art are standard NewYork hedge fund decor. ButStephen Jennings, the 50 year-old New Zealander who

receives visitors here, is bettingon a world that by-passes thewest altogether.

Jennings is a founder andCEO of the RenaissanceGroup, a Moscow-based finan-cial company with ambitions tobe the premier investment bankfor intra-emerging market capi-tal flows. As Jennings put it, hewants Renaissance "to providethe plumbing".

Last year, Jennings wenthome to Wellington to deliverthe annual Trotter lecture, astage he used to lay out hisvision of the rise of indigenousemerging market players."Multinationals' advantages interms of know-how and capitalhave been neutralized by theirinability or reluctance to growexplosively in complex, for-eign environments," he argued."In many emerging marketsand in an increasing number ofindustries, the market leadershave local roots. The largestmetals group in the world isIndian. The largest aluminumgroup in the world is Russian… The fastest-growing andlargest banks in China, Russiaand Nigeria are all domestic."

Jennings knows that emerg-ing markets are "highly idio-syncratic." But, he told me,some of the savviest emerging

market champions seem to bediscovering they have more incommon with each other thanwith their erstwhile tutors inthe west: "they have analogousbusiness models and states ofdevelopment … they are allculturally attuned to these fast-growing markets."

One of the best examples iseight floors above Jennings'office: DST, or Digital SkyTechnologies, the Moscow-based internet investor whichmade a global splash with alandmark deal with Facebook.Earlier this year, DST formed athree-way partnership withNaspers, the South Africanmedia company, and Tencent,the Chinese internet firm.Together the three hope todominate the emerging marketinternet space. Another seminalintra-emerging market deal wasthe acquisition by Bharti, theIndian telecom giant, of mostof the African properties ofKuwait-based Zain.

A high-tech executive wholives in California and hasclose ties to Bharti told me theIndian firm has a competitiveadvantage over western rivalsin what he believes will be theexplosively growing Africanmarket: "They know how toprovide mobile phones so

much more cheaply than wedo. In a place like Africa, howcan western firms compete?"

It would be wrong, of course,to count the west out.Multinational behemoths likeGE, Coca Cola and HSBC havebeen quick to understand theopportunity emerging marketsrepresent and agile in adaptingto local conditions. The relia-bility and the reputation ofthese global brands can makethem appealing partners foreven the most aggressiveemerging market entrepre-neurs. And when it comes toparadigm-shifting innovation,western companies like Appleand Facebook are still settingthe international agenda.

In fact, it may be westernpoliticians rather than westernCEOs who will be blindsidedby this coming wave of global-ization. Lackluster economicgrowth and persistent unem-ployment are fueling protec-tionist sentiment in manydeveloped countries, especiallythe US. At a time when emerg-ing market countries and com-panies are getting better andbetter at doing business withone another, that impulse maynot only be self-destructive.Even worse, it could be futile.-Reuters

Rise of the Rest

Pakistan is our home andneeds to be protected fromenemies, from outside as wellas inside. When it becomesevident on the enemies g thatthe country has the capacity todeter any aggression theypropagate that too muchmoney is being spent on arse-nal which is waste of money.Maintaining a huge army anddoes not bode well for a devel-oping country. In fact the ene-mies try to create a group of

people to toe their line and toweaken the country.

History reveals that thosenations, who were vigilant anddo not compromise on keyissues are able to withstandmany adversities. They havethe best trained men and thelatest warfare. This is animportant lesson of historythat should not be forgotten.

Western as well as a neigh-boring country is trying to stirmisunderstandings regarding

the defence budget of PakistanArmed Forces. The propagan-da need to be respondedstrongly that the country has tomaintain minimum deterrencelevel. Due to war on terror andfloods Pakistan is already fac-ing problems posing threats todevelopments. The wholeadministrative infrastructure isfacing serious problems. Thepublic and private sector arestruggling hard to survive.

At this hour the people

depend on government and thearmed forces. It is the time tointegrate ourselves and not toraise egoistic issues and fallprey to negative propaganda.Creating confusions and chaosis part of anti Pakistan strate-gy. It will keep on taking newtwists in the future as well.

The concept of war haschanged, not a war fought ondifferent fronts but a war ofnerves and whoever is pre-pared and organized is likely

to survive. It is a game of sur-vival of the fittest not only inthe region but globally. Thearmed forces have the bestaccountability system. Theycan themselves carry outanalysis if required and noneed to worry. The onlyrequirement is treating themwith dignity, respect them andstand by them in this hour ofneed.

Anwar Parveen,Rawalpindi

No Compromise on Defence

It has to be understood that Dr Aafia is notjust any Pakistani woman and it would notbe fair to dismiss her case, as being done bymany, by likening her to the millions of oth-ers oppressed in the country that are beingdenied their legitimate right to justice andfreedom.

Aafia symbolizes the need of everyPakistani to liberate itself from the psycho-logical and physiological neo-imperialisthegemony. The entire movement was tobreak free from the clutches of externaloppression that breeds hopeless despairamongst the public, but the failure of ourgovernment and its lack of interest evidentfrom of the fact that there is no change on thehorizons for the subjugated citizens. Aafia'ssentence for eighty six years imprisonmentconveys the American mindset that aims tohold all Pakistanis captive for a similar num-ber of years if not more.

This can be elucidated by the intensifieddrone attacks on the Pakistani territorybeing conducted by the tacit yet absolute

consent and compliance by the Pakistanileadership that have, like Aafia, left theentire public at the mercy of the US whimsin favor of a few petty personal gains whileproviding strong bases to foreign forcesinside Pakistani territory.

The helicopters that were sent in the guiseof humanitarian missions to Pakistan alongwith thousands of US marines have obvious-ly begun what they had actually aimed;launch territorial attacks upon the Pakistaniterritory killing 30 people while droneattacks too killed 10 on the same day makingit the 62nd attack of the year 2010.

The government needs to change its stancefor a change and wake up to the threat theseattacks pose to the nation and to take thematters in its own hands by starting a recon-ciliation process in the NWA of Pakistansimilar to that of the Afghan peace process.If Taliban in Afghanistan can be steeredtowards peace through dialogue why can'tthe same be applicable in Pakistan?

Marya Mufti, Lahore

AbsoluteHegemony

History is repeating itself.Whenever an important eventcomes where Kashmir issue canbe raised India changes its stancetowards the occupied valley andoffers Pakistan to resolve all theconflicts including Kashmirthrough dialogue. This strategyhas been applied many a timesand we as a simple nation trustIndia that may be this time ithonestly wants to resolve all thedisputes. The outcome is thesame and once the event is over,India changes its stance and theissues remain unresolved. Allour diplomatic efforts fail tobring India to the negotiatingtable.

This time again India hasadopting the tactics as the UNsession is getting nearer. Indiangovernment is worried that if theKashmir issue is raised forceful-

ly and get sympathetic hearingof the international community itmay lead to passing a resolutionto take some concrete steps toresolve the issue. The world iswatching the brutalities andkillings closely, which areexposing the real face of Indiasuppressing the freedom move-ment with power. The Indianpoliticians and civil society isquestioning the government forhow long the self serving andself deceiving views as well asactions regarding Kashmir canhide the truth from the world.

This is the time when realisticapproach and strong message ofsolidarity with the Kashmirisshould be communicated fromour side using all diplomaticskills and channels at this impor-tant forum.

Dr Lubna Umar, Islamabad

Indian Offerof Dialogue

This is with reference to areport published in thelocal print media followedby a press release by theUS Embassy in Islamabad,and a clarification by the

Government of Pakistandenying that no amount hasbeen misappropriated fromUS aid (given under theKerry Lugar Bill) meant forIDPs from Swat and

Malakand. Though, thestory carries some weightyet one wonders what hasgone wrong with the mostsenior Pakistani journalist.I happen to be the big fan

of those journalists tryingto unearth some scope.Many of the analyses, com-ments, predictions andpredilections prove truebringing disgrace to the

nation. However, one failsto understand why theelected representatives aretreading on a self-destruc-tive path?

F Z Khan, Islamabad

Millions Missing

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

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

Sales (July 09 to June 10) 73,993

Production (July 10) 7,509

Sales (July 10) 4,503

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




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




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


Production (July 10) 41

Sales (July 10) 40

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

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

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

Spread (July 2010) 7.51%

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

MS (July 10) 188

Kerosene (Jul 09 to June 10) 164

Kerosene (July 10) 15

JP (Jul 09 to June 10) 1,377

JP (July 10) 129

HSD (Jul 09 to June 10) 7,435

HSD (July 10) 664

LDO (Jul 09 to June 10) 75

LDO (July 10) 7

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

Fuel Oil (July 10) 869

Others (Jul 09 to June 10) 13

Others (July 10) 1

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

MS (1 Aug 10) 41.22

MS % Chg -0.90%

Kerosene (1 Sep 10) 47.14

Kerosene (1 Aug 10) 46.55

Kerosene % Chg 1.27%

JP-1 (1 Sep 10) 47.37

JP-1 (1 Aug 10) 46.78

JP-1 % Chg 1.26%

HSD (1 Sep 10) 50.61

HSD (1 Aug 10) 49.63

HSD % Chg 1.97%

LDO (1 Sep 10) 46.37

LDO (1 Aug 10) 45.29

LDO % Chg 2.38%

Fuel Oil (1 Sep 10) 39,932

Fuel Oil (1 Aug 10) 39,723

Sector Updates

Symbol Close Vol (mn)TRG 4.27 7.36 SILK 3.01 4.73 NCL 17.08 4.12 NML 47.17 3.66 LOTPTA 8.46 3.46

Symbol Close ChangeDREL 660.00 24.00 SIEM 1,176.97 16.97 LAKST 298.16 14.19 NESTLE 1,904.75 4.56 ATLH 98.40 4.30

Symbol Close ChangeCOLG 693.00 -13.17FZTM 305.18 -11.67UPFL 1,030.00 -8.88GLPL 66.38 -3.37MFFL 65.72 -3.28

Plus 184Minus 155Unchanged 13

Top 5 Volume Leaders

Major Losers

Major Gainers

KSE-100 Index

LSE-25 Index

ISE-10 Index

Active Issues

South East Asian stocks: Mostlyhigher; Indonesia hits record high

EU shares end at 1-month low;earnings eyed

Saturday, October 2, 2010 5

Opening 10,013.31

Closing 10,042.44

Change 29.13

% Change 0.29

Turnover (mn) 63.82

Opening 3,114.90 Closing 3,129.82 Change 14.92% Change 0.48Turnover (mn) 2.79

Opening 2,557.43

Closing 2,566.34

Change 8.91

% Change 0.35

Turnover (mn) 0.20

ANNOUNCEMENTS

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

Elite Cap.Mod 30/06/2010(YR) 5%(D) 7.32 0.65

Pak Oilfields Ltd. 30/06/2010(YR) 175%(F)(D) 7436.766 31.44

Al-Abbas Cement 30/06/2010(YR) 100%(R) -720.615 -3.94

Bawany Air 30/06/2010(YR)10%(R) 5%(D) 53.271 7.81

Nat.Bank Mod 30/06/2010(YR) 10%(D) 26.234 1.05

B.F.Modaraba 30/06/2010(YR) 10%(B) 3.402 0.5

Bestway Cem 30/06/2010(YR) - -1209.436 -3.71

Dreamworld 30/06/2010(YR) - 1.903 0.06

Frontier Ceramics 31/03/2010(IIIQ) - -11.611 -1.5

Mod.Al-Mali 30/06/2010(YR) - -12.913 -0.7

Moonlite (PAK) 30/06/2010(YR) - -39.233 -18.17

Mustehkam Cement 30/06/2010(YR) - -263.682 -7.64

S.S.Oil 30/06/2010(YR) - 13.06 2.31

Transmission Engg. 30/06/2010(YR) - 11.652 1

Staff Reporter

KARACHI: Al MeezanInvestment ManagementLimited (Al Meezan)announced the first interimdividends for its three fixedincome funds. These wereRs1.50 per unit for MeezanIslamic Income Fund; Rs1.225per unit for Meezan Cash Fundand Rs1.25 per unit for MeezanSovereign Fund.

The payouts are in the formof Bonus Units for the GrowthUnit holders and cash dividendfor the Income Unit holders. AGrowth Unit holder having 100units of MIIF as at September29, 2010 will get 2.9499 addi-tional units at the ex-div. NAVof Rs50.85 while an IncomeUnit holder will get cash divi-dend of Rs1.50 per unit. AGrowth Unit holder having 100units of MCF as at September29, 2010 will get 2.4500 addi-tional units at the ex-div. NAVof Rs50.00. A Growth Unitholder having 100 units ofMSF as at September 29, 2010

will get 2.4985 additional unitsat the ex-div. NAV of Rs50.03.

Meezan Islamic IncomeFund (MIIF) is the first and thelargest Shariah compliant openend income fund of Pakistan.The annualised return for thequarter ended September 30,2010 comes to 14.4 per cent. Atthe close of the first quarterended September 30, 2010, thenet assets of MIIF wereRs3,239 million.

Meezan Cash Fund (MCF) isthe first Shariah compliantopen end money market fundof Pakistan. The annualizedreturn for the quarter endedSeptember 30, 2010 comes to10.2 per cent. At the close ofthe first quarter endedSeptember 30, 2010, the netassets of MCF were Rs5,838million.

Meezan Sovereign Fund(MSF) is the first Shariah com-pliant open end governmentsecurities fund of Pakistan. Theannualized return for the quar-ter ended September 30, 2010

See # 4 Page 11

Al Meezanannounces

interim dividend

Nawaz Ali

KARACHI: Shares endedhigher at the Karachi StockExchange on Friday above thepsychological level of 10,000points due to buying on strongvaluations with and expecta-tion of good corporate resultsin the coming weeks for thequarter ending September 30.

The benchmark KSE 100-index gained 29 points to closeat 10,042 level, KSE 30-indexrose by 11 points to close at9,685 level and KSE All Shareindex grew by 19 points toclose at 7,016 level.

"Positive close was wit-nessed as institutions, state run

funds and foreign investorscontinued accumulation ofstocks on strong valuations",said Ahsan Mehanti, DirectorArif Habib Investments.

Rise in international oilprices getting closer to $81,expectation of good corporateresult announcements nextweek and foreign interest inblue chip oil & gas companiesand banking sector scripsplayed a catalyst role in ijniti-ating positive activity at KSEdespite concerns of rising costof borrowing, falling rupeevalue and Pak-NATO forcesclashes, he added.

The day started on a positivenote with early gain of 16

points; thereafter marketmoved shortly into negativezone touching its low of10,002 points. But renewedbuying activities allowed theindex to bounce back into thepositive zone and the indexremained in positive zone tillclosing of the session. Sellingwas witnessed in PakistanOilfields due to below expecta-tion result.

Positive activity gained fur-ther momentum during the sec-ond session due to continuedbuying mainly in the indexheavy weight OGDC, textileand in some banking stocks.The index at about 3:30 PSTtouched its highest level of the

day of 10,106 points. As it wasthe last trading day of the weeksome profit taking witnessed athigher levels which eclipsedindex which still managed toclose the day above 10,000level.

Samar Iqbal, Equity Dealerat Topline Securities said thatthe early gains were eroded bylate profit taking as investorspreferred not to carry on posi-tions over to next week. Smallcap stocks remained the talk ofthe town while disappointedinvestors booked profit inPakistan Oilfield after it'sbelow expectation resultannouncement.

Foreign investors remained

on the buying side. Accordingto NCCPL data there was a netforeign buying of $2.17 mil-lion on Friday. On the localside; mutual funds and banksalso emerged net buyer of$1.01 and $0.67 millionrespectively while companieswere the net sellers at $2.87million.

However, volume remainedlow at 63.8 million shares, 25million shares less as com-pared to a turnover of 88.8 mil-lion shares witnessed a dayearlier.

Out of total 352 activeissues; 184 advanced and 155declined while prices of 13scrips remained unchanged.

100-Index closesabove 10,000 level

POL profitup 32.4pc

Ahmed Siddique

KARACHI: PakistanOilfields Limited (POL) is oneof the leading oil and gasexploration and productioncompanies of the country.According to financial resultsent by to Karachi StockExchange the Company hasposted profit after tax ofRs7.43 billion (EPS: Rs31.44)for FY10 as compared to prof-it of Rs5.62 billion (EPS:Rs23.75) for the correspon-ding period last year. Thistranslates into profit growth of32.4 per cent.

Along with the approval offinancial accounts the Board ofDirectors also approved distri-bution of final cash dividendof Rs17.5 per share, which isin addition to interim dividendof Rs8 per share. This took thetotal payout for the full year toRs25.5 per share FY10 asagainst divided payout of Rs18per share for the previous year.

TFD analyst attributes thesurge in earning to 1) increasein gas and oil production by 61per cent and 9 per cent respec-tively 2) hike in average priceof crude oil during FY10 by10.4 per cent YoY to US$74.66a barrel (Arab Light) and 3)depreciation of Pak rupee by6.5 per cent on YoY duringFY10.

Net sales of the Companygrew by 27 per cent to Rs17.84billion for FY10 from 14.05billion for FY09. The mainreason for the hike in sales wasincrease in gas production by61 per cent to 61mmcfdagainst 38mmcfd registered inFY09 due to commencementof CPF of Manzalai field.Similarly, oil production wasalso up by 9 per cent to4.05kbpd as compared to3.7kbpd for FY09.

Administrative expenseswent up by 56.5 per cent toRs73.33 million as comparedto Rs46.85 million for the cor-responding period last year.Financial cost dropped by 44.6per cent to Rs284 million fromRs512 million last year duringthis period.

Other operating income alsodecreased significantly by 32.6per cent to Rs1.38 billion fromRs2.04 billion in FY09.

MUMBAI: Robust foreignfund inflows drove Indianshares to 33-month high onFriday while strong auto salesin September pushed key autostocks higher helping thebenchmark index post its fifthweekly gain. It was the biggestwinning stretch in six monthsfor the index but the steep risehas led to concerns about a cor-rection soon.

The 30-share BSE index rose1.87 per cent or 375.92 pointsto 20,445.04 points, takinggains in the week to nearly 2per cent. The index is onlyaround 800 points away fromits record high.

It rose to as much as20,475.47, its highest sinceJanuary 2008. Twenty-seven ofits components closed in thegreen. "It is a liquidity-drivenrally. But, what worries me isthe way it is going, we may notsee a pause, but it could turnout to be a reversal," saidAmbareesh Baliga, vice-presi-dent of Karvy Stock Broking.

Foreign fund inflows of

$18.2 billion have led thebenchmark index 17.1 per centhigher.

The index gained 13.4 per-cent in the quarter endedSeptember, notching its sev-enth consecutive quarterly gainand the longest winning streakin at least 20 years.

India's manufacturing sectorcontinued to expand inSeptember although at a con-siderably slower pace than inpreceding months, predomi-nantly weighed down by a fallin new orders and output, asurvey showed.

Vehicles maker Tata Motorsfirmed nearly 2 per cent after itsaid its September sales rose23 per cent, and it will hikeprices on some passenger andall commercial vehicles fromMonday due to rise in inputcosts.

Leading car maker MarutiSuzuki and top utility vehiclemaker Mahindra & Mahindraraced 2.9 percent each.

Metals producer SterliteIndustries rebounded 5.1 per

cent after India's SupremeCourt on Friday stayed a lowercourt order to close VedantaResources copper smelter insouth India.

Reliance Industries, whichhas been an underperformer inrecent times in the absence ofany near-term positives,climbed 2 per cent in anattempt to catch up with thebroader market rally.

The stock, which has thehighest weight on the Sensex,is down 7.6 per cent this year.

Outsourcers rose afterstronger-than expected eco-nomic indicators from Chinaand the United States boostedconfidence in the global eco-nomic recovery, dealers said.

Leading software companiesTata Consultancy Services,Infosys Technologies andWipro gained between 2.1 per-cent and 4.1 percent.

Two shares advanced forevery share that declined in thebroader market, on a strongvolume of 516 million shares.-Reuters

Indian shares at33-month high

LONDON - The leadingshare index pushed higher onthe first session of the finalquarter of 2010, fuelled bygains in commodity issues andbanks as some semblance of arisk appetite returned forinvestors.

At the close, the FTSE-100was up 44.28 points, or 0.8 percent, at 5,592.90 points, mak-ing a good start to the newmonth having put on 6.2 percent in September, althoughan early push up to technicalresistance above 5,610 failedto hold.

"After a strong performancein the third quarter, stock mar-ket indices look harder to callfor the run to the end of theyear," said David Jones, chiefmarket strategist at IG Index.

Commodity issues led theblue chip advance as crudeprices rose close to $81 perbarrel and metal prices firmed

across the board after above-forecast data from Chinaboosted confidence in theglobal economic recovery.

BG Group was the biggestblue chip riser, up 4.6 per centwith an agreement betweenChinese refiner SinopecGroup and Repsol of Brazilseen as supportive to the UKcompany's valuation.

BP gained 3 per cent as itdetailed the Gulf of Mexicoassets it will use to helpfinance the $20 billion (12 bil-lion pounds) fund for victimsof its oil spill and said the costof dealing with the disasterhad risen to $11.2 billion.

BP shares were up around 9per cent over the three ses-sions since making opera-tional changes on Wednesday,although the stock saw strongtechnical resistance around446 pence.

See # 5 Page 11

Commodities, bankspush FTSE higher

TOKYO: Japan's Nikkei rose0.4 per cent on Friday, boostedby short covering after sharpfalls the previous day and afterbetter than expected US eco-nomic data provided a degreeof optimism.

In an upbeat note for the newquarter, the benchmark evenmanaged to fight off a wave ofpressure from large-lot sellingof futures that briefly flattenedit, as well as a stronger yen.

The Nikkei in Septembermarked its best month sinceMarch on expectations that thecentral bank will ease policyfurther and that the yen's rapidadvance could be curbed bymore intervention by theauthorities.

"Japanese stocks are recoup-ing some ground as investorsappear to be correcting extremepessimism triggered earlier bythe yen's advance and worriesabout European finance prob-lems," said Koichi Nosaka, amarket analyst at SecuritiesJapan, Inc.

"Although I don't expect tosee any sharp erosion in stockprices during new quarter,gains may be limited due to atug-of-war between signs of aslowdown in the real economyand market hopes for policyeasing moves."

Most in the market said muchdepends on next week's Bankof Japan (BoJ) meeting, withan easing move widely expect-ed, though some took a cau-tious stance.

"If the BoJ only takes movesalong the lines of those thathave been already reported,there could be some disap-pointment that would pressurestocks," said HideyukiIshiguro, a strategist at OkasanSecurities.

"A lot depends on what hap-pens with the yen. I myselfthink there may be more of adownside risk than an upsideone."

The BoJ will hold its nextmonetary policy meeting onOct. 4-5. The policy moveexpected most by economistspolled by Reuters was yetanother expansion of a cheapfund-supply tool that the BoJset up in December andexpanded in March andAugust.

The benchmark Nikkei rose0.4 per cent to 9,404.23 afterdipping briefly into negativeterritory in the early afternoon,succumbing to pressure fromwhat market players said waslarge-lot selling of Nikkeifutures, mainly by foreigninvestors.

The Nikkei lost 0.7 percenton the week.

But support held around9,357, the 38.2 per centretrenchment of the Nikkei'smove from 8,796 to the peak ofits September rally at 9,704.

Wall Street wrapped up itsbest quarter in a year onThursday with the S&P andNasdaq logging their biggest

See # 6 Page 11

Nikkei endsslightly higher

US stocks early-afternoon

US stocksbuilt on

recent gainsNEW YORK: US stocksadvanced modestly on the firstday of the fourth quarter onFriday as resource stocks builton recent gains despite datashowing a slowed pace of man-ufacturing growth inSeptember.

The ISM manufacturingreport offset enthusiasm earlierin the morning generated bydata out of China showing apick-up in its manufacturingsector and left the door open forthe Federal Reserve to launch afresh round of monetary policyeasing.

A mixed round of US data leftthe market searching for direc-tion as construction spendingrose unexpectedly in August,while September consumer sen-timent improved slightly, butremained at its weakest level inmore than a year.

The data "could signal that wehave a little downdraft goinghere," said Brian Battle, vicepresident of trading atPerformance Trust Capital part-ners in Chicago. "It is very dif-ficult to be an investor rightnow because signals are beingcrossed."

The S&P 500 also hit a keyresistance level after it climbedas high as 1,150.30 before los-ing ground. That level is viewedas the top of a recent range afterstocks surged throughSeptember.

Technology shares rankedamong the laggards as investorslocked in some profits the dayafter indexes wrapped up thebest quarter in a year.Amazon.com was among thebiggest drags on the Nasdaq,down 2.7 per cent at $152.82.

"I think we're seeing a littleprofit taking in momentumstocks -- names like Amazon,Priceline and Netflix, whichwere big winners last quarter,"said Michael Sheldon, chiefmarket strategist at RDMFinancial in Westport,Connecticut.

The Dow Jones industrialaverage was up 44.50 points, or0.41 per cent, at 10,832.55. TheStandard & Poor's 500 Indexwas up 4.61 points, or 0.40 percent, at 1,145.81. The NasdaqComposite Index was up 2.49points, or 0.11 per cent, at2,371.12.

On the upside, resourcestocks gained as metal and oilprices returned to recent newhighs. Shares of FreeportMcMoRan Copper and Gold

See # 7 Page 11

Saturday, October 2, 20106

Volume 63,824,735

Value 2,257,977,141

Trades 38,306

Advanced 184

Declined 155

Unchanged 13

Total 352

Current 7,016.82

High 7,058.29

Low 6,991.34

Change h19.99

Current 10,042.44

High 10,106.67

Low 10,002.43

Change h29.13

Current 9,685.76

High 9,744.68

Low 9,650.54

Change h11.42

Market KSE 100 Index All Share Index KSE 30 Index

Current 15,698.93

High 15,771.67

Low 15,636.39

Change h16.08

KMI 30 IndexSymbolsAlert ! Unusual Movements

Technical AnalysisFundamental Highlights

As on Jun 30, 2009

KESC closed up 0.09 at 2.11. Volume was 392 per cent above average

(trending) and Bollinger Bands were 44 per cent narrower than normal.

The company's loss after taxation stood at Rs14.641 billion which

translates into a Loss Per Share of Rs0.74 for the year ended FY10.

KESC is currently 19.2 per cent below its 200-day moving average and

is displaying an upward trend. Volatility is relatively normal as com-

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

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

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

RSI (14-day) 52.75 Total Assets (Rs in mn) 130,784.14

MA (10-day) 2.03 Total Equity (Rs in mn) (8,737.47)

MA (100-day) 2.29 Revenue (Rs in mn) 85,224.08

MA (200-day) 2.61 Interest Expense 5,619.80

1st Support 1.90 Loss after Taxation (15,484.94)

2nd Support 1.71 EPS 09 (Rs) (1.176)

1st Resistance 2.39 Book value / share (Rs) (0.66)

2nd Resistance 2.69 PE 10 E (x) -

Pivot 2.20 PBV (x) (3.18)


As on Jun 30, 2009

NCL closed up 1.00 at 17.08. Volume was 304 per cent above average

(trending) and Bollinger Bands were 54 per cent narrower than normal.

The company's profit after taxation stood at Rs400.039 million which

translates into an Earning Per Share of Rs4.05 for the nine months of

fiscal year (9MFY10).

NCL is currently 9.6 per cent below its 200-day moving average and is

displaying an upward trend. Volatility is low as compared to the average

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

ume flowing into and out of NCL at a relatively equal pace. Trend fore-

casting oscillators are currently bullish on NCL.


MA (10-day) 16.29 Total Equity (Rs in mn) 3,102.47



1st Support 16.42 Profit after Taxation 103.34

2nd Support 15.80 EPS 09 (Rs) 1.249

1st Resistance 17.37 Book value / share (Rs) 37.51

2nd Resistance 17.70 PE 10 E (x) 3.16

Pivot 16.75 PBV (x) 0.46


As on Dec 31, 2009

JSBL closed down -0.12 at 2.33. Volume was 190 per cent above aver-

age (trending) and Bollinger Bands were 1 per cent wider than normal.

The company's loss after taxation stood at Rs337.047 million which

translates into a Loss Per Share of Rs0.55 for the half year of current

calendar year (1HCY10).

JSBL is currently 34.1 per cent below its 200-day moving average and

is displaying an upward trend. Volatility is low as compared to the aver-

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

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

forecasting oscillators are currently bullish on JSBL.


MA (10-day) 2.40 Total Equity (Rs in mn) 5,654.56



1st Support 2.25 Loss after Taxation (594.94)

2nd Support 2.22 EPS 09 (Rs) (0.980)

1st Resistance 2.38 Book value / share (Rs) 9.23


Pivot 2.35 PBV (x) 0.25


As on Dec 31, 2009

PIAA closed down -0.01 at 2.20. Volume was 10 per cent below aver-age and Bollinger Bands were 65 per cent narrower than normal. Thecompany's loss after taxation stood at Rs6.901 billion which translatesinto a Loss Per Share of Rs2.86 for the half year of current calendaryear (1HCY10).PIAA is currently 18.5 per cent below its 200-day moving average andis displaying an upward trend. Volatility is relatively normal as comparedto the average volatility over the last 10 trading sessions. Volume indi-cators reflect moderate flows of volume out of PIAA (mildly bearish).Trend forecasting oscillators are currently bullish on PIAA.


MA (10-day) 2.12 Total Equity (Rs in mn) (20,772.84)



1st Support 2.06 Loss after Taxation (5,822.43)

2nd Support 1.91 EPS 09 (Rs) (2.720)

1st Resistance 2.30 Book value / share (Rs) (8.92)


Pivot 2.15 PBV (x) (0.25)

Performance of SR Oil and Gas Index

Open High Low Close Change % Change

1,243.46 1,257.91 1,237.97 1,248.00 4.55 0.37

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

3,169,440 - - 65,194.15 mn 1,009,728.93 mn 1,248.00

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

10.78 3.99 37.01 68.56 6.36 1,233.59

Attock Petroleum 576 5.25 340.56 343.30 339.00 341.34 0.78 197267 350.00 285.00 250 - 300 20

Attock Refinery 853 14.61 79.48 81.35 79.50 80.34 0.86 499206 93.60 73.47 - - - -

BYCO Petroleum 3921 - 10.16 10.44 10.20 10.25 0.09 439688 13.05 9.62 - - - -

Mari Gas Company 735 14.78 108.54 110.00 107.03 109.05 0.51 33102 138.45 106.00 32.17 100B 31 -

National Refinery 800 5.00 202.06 204.00 200.00 200.59 -1.47 91816 208.49 183.25 125 - 200 -

Oil & Gas Development XD 43009 10.12 145.71 147.99 145.05 146.70 0.99 405269 153.00 133.00 82.5 - 55 -

Pak PetroleumXDXB 11950 5.42 172.41 173.99 171.60 173.10 0.69 481460 214.10 168.70 130 20B 90 20B

Pak Oilfields 2365 6.92 237.13 237.00 232.75 234.64 -2.49 1860629 240.01 213.17 180 - 255 -

Pak Refinery Limited 350 - 58.30 59.30 58.40 58.50 0.20 1401 82.00 48.26 - - - -

PSO XD 1715 4.53 268.70 271.80 266.51 267.45 -1.25 1065376 289.45 233.10 50 - 80 -

Shell Gas LPG 226 13.73 30.23 31.55 30.00 30.49 0.26 391301 40.10 27.32 - - - -

Shell Pakistan XD 685 9.91 192.45 194.83 192.60 193.17 0.72 3242 244.00 188.00 330 - 40 -

Paid up Last 60 days 2009 2010

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

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

Performance of SR Personal Goods Index


918.93 930.23 919.50 923.69 4.76 0.52


10,861,803 - - 47,070.70 mn 113,560.72 mn 923.69


5.29 0.46 8.64 16.68 3.15 914.10

Ahmed Hassan 144 26.79 18.95 17.95 17.95 17.95 -1.00 632 24.79 17.95 - - - -

Ali Asghar Textile 222 - 1.40 1.40 1.28 1.38 -0.02 23600 2.21 0.40 - - - -

Amtex LimitedSPOT 2415 4.52 16.98 17.00 16.66 16.92 -0.06 567572 20.45 14.61 - - 30 -

Artistic Denim 840 5.83 20.10 20.64 20.00 20.00 -0.10 7042 21.29 17.55 20 - - -

Azam Textile 133 0.47 2.22 2.00 2.00 2.00 -0.22 500 2.90 1.35 - - - -

Azgard Nine 4493 255.00 10.13 10.35 10.08 10.20 0.07 937701 13.40 8.55 - - - -

Blessed Tex Mills 64 0.77 51.00 50.90 50.50 50.57 -0.43 1006 52.05 38.95 7.5 - 50 -

Chakwal Spinning 400 1.29 1.25 2.00 1.20 1.30 0.05 27363 2.30 0.70 - - - -

Chenab Limited 1150 - 3.19 3.24 3.04 3.05 -0.14 26936 4.98 2.93 - - - -

Colgate Palm 316 14.88 706.17 710.00 692.00 693.00-13.17 195 770.00 550.00 115 15B - -

Colony Mills Ltd 2442 2.37 2.50 3.18 2.37 2.82 0.32 109 5.00 2.23 - - - -

Crescent Jute 238 - 0.77 0.80 0.67 0.68 -0.09 1185 2.25 0.48 - - - -

D M Textile 31 0.51 2.49 2.68 2.49 2.62 0.13 10200 2.68 0.99 - - - -

D S Ind Ltd 600 - 1.72 1.90 1.60 1.82 0.10 56093 2.49 1.45 - - - -

Din Textile 185 1.33 24.85 26.09 25.80 25.83 0.98 108 32.30 24.00 - - 20 10B

Ellcot Spinning 110 1.86 21.66 22.25 20.59 21.91 0.25 9210 25.45 20.50 7.5 - 35 -

Faisal Spinning 100 0.83 31.88 33.47 33.47 33.47 1.59 3010 33.47 24.55 7.5 - 50 -

Fazal Textile 62 3.02 316.85 322.00 303.00 305.18-11.67 488 410.00 303.00 15 - 100 -

Gadoon Textile 234 1.23 47.03 47.00 45.26 46.06 -0.97 1238 47.73 33.80 - - 70 -

Ghani Value Glass 75 7.16 33.00 33.48 32.00 32.45 -0.55 3107 38.64 26.00 8 400R 25 -

Ghazi Fabrics 326 1.25 4.33 4.30 4.30 4.30 -0.03 1686 5.00 1.11 - - 10 -

Hira Textile Mills Ltd. 716 1.41 3.85 4.19 3.85 3.95 0.10 1302 4.61 2.52 - - - -

Ibrahim Fibres 3105 3.33 36.62 37.87 35.00 36.22 -0.40 6165 41.00 34.25 - - - -

J K SpinningXDXB 175 0.40 6.69 7.50 6.00 6.00 -0.69 184 10.30 4.75 - - 20 5B

Khalid Siraj 107 - 0.84 0.84 0.26 0.55 -0.29 8500 1.99 0.10 - - - -

Kohinoor Ind 303 - 1.47 1.63 1.01 1.51 0.04 19909 2.00 1.01 - - - -

Kohinoor Textile 1455 2.88 5.49 5.79 5.46 5.50 0.01 70602 6.30 4.00 - - - -

Land Mark Spinning 121 - 2.05 2.05 2.05 2.05 0.00 1000 4.00 1.92 - - - -

Mehmood Textile 150 2.43 60.00 63.00 60.00 62.80 2.80 1721 74.50 50.00 4050.2257B - -

Mohd Farooq 189 - 0.69 1.00 0.99 0.99 0.30 1545 1.82 0.35 - - - -

Mukhtar Textile 145 - 0.41 0.81 0.40 0.45 0.04 177 0.99 0.25 - - - -

Nagina Cotton 187 1.25 16.98 17.00 16.30 16.55 -0.43 3366 17.18 12.00 - - 20SD -

Nishat (Chunian) 1586 3.16 16.08 17.08 16.13 17.08 1.00 4120266 19.49 14.64 - 50R - -

Nishat Mills 3516 5.55 46.00 47.60 45.95 47.17 1.17 3657880 53.14 40.81 20 - 25 45R

Prosperity 185 2.39 16.97 16.52 16.50 16.50 -0.47 4500 21.47 16.22 20 - 30 -

Quality Textile 160 1.51 9.00 9.00 9.00 9.00 0.00 500 11.00 8.92 - - 15 -

Ravi Textile 250 5.33 1.83 2.12 1.80 2.08 0.25 1015582 4.79 1.38 - - - -

Reliance Weaving 308 1.46 11.70 12.00 11.75 11.88 0.18 13660 12.00 6.91 - - - -

Rupali Poly 341 5.75 36.45 36.75 35.05 35.05 -1.40 3400 36.75 31.35 40 - 40 -

Saif Textile 264 - 3.72 4.70 3.50 4.44 0.72 60401 4.70 2.01 - - - -

Sajjad Textile 213 0.21 1.00 1.00 1.00 1.00 0.00 1000 4.19 0.16 - - - -

Salfi TextileSPOT 33 0.28 24.58 25.80 25.48 25.79 1.21 1867 27.15 17.21 - - 25 -

Samin Textile 134 24.59 6.13 7.13 6.21 7.13 1.00 31717 8.40 5.02 - - - 100R

Sana Ind XD 55 4.51 31.79 32.75 30.21 30.23 -1.56 6773 38.40 27.25 35 - 60 -

Service Fabrics 158 - 0.28 0.12 0.12 0.12 -0.16 1000 1.17 0.12 - - - -

Service Ind 120 4.79 184.03 187.85 184.50 186.00 1.97 1692 236.61 176.50 200 - - -

Shadman Cot 176 2.00 10.00 11.00 11.00 11.00 1.00 1800 11.00 7.00 - - - -

Shahtaj Textile 97 1.70 18.93 19.19 18.91 18.93 0.00 21749 21.50 14.75 20 - 45 -

Shahzad Textile 136 1.20 6.25 7.25 6.25 7.18 0.93 593 8.05 3.25 - - - -

Suhail Jute 37 5.96 11.50 11.99 11.98 11.98 0.48 5500 11.99 10.50 - - - -

Suraj Cotton 180 1.56 35.10 35.20 34.50 34.93 -0.17 15624 36.20 29.50 15 - - -

Tata TextileSPOT 173 0.60 15.98 16.88 15.30 15.30 -0.68 510 19.70 12.61 - - 25 -

Thal Limited 256 3.96 106.16 108.00 105.00 105.78 -0.38 18133 114.99 95.35 20 20B 80 20B

Treet Corp 418 0.55 43.02 44.30 42.50 43.42 0.40 76376 49.49 37.20 - - - -

Zephyr Textile Ltd 594 - 2.50 2.65 2.25 2.60 0.10 7006 4.99 1.50 - - - -

Zil Limited 53 6.79 38.51 39.75 39.45 39.64 1.13 620 46.12 33.00 40 10B 35 -



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

Performance of SR Household Goods Index


1,030.28 1,071.27 1,046.91 1,058.70 28.42 2.76


94,878 - - 3,763.71 mn 5,532.67 mn 1,058.70


3.39 0.36 10.64 6.27 1.85 1,025.75

Hussain Industries 106 - 9.40 10.40 9.59 9.59 0.19 501 10.50 7.11 - - - -

Pak Elektron 1174 2.95 14.00 14.23 13.71 13.82 -0.18 76516 15.95 11.51 - 10B - 10B

Tariq Glass Ind XD 231 2.86 17.70 18.00 16.70 17.58 -0.12 17757 19.12 13.50 - - 17.5 -



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

Performance of SR Food Producers Index


1,458.87 1,476.28 1,451.93 1,462.19 3.32 0.23


68,291 - - 11,335.33 mn 187,746.57 mn 1,462.19


21.59 6.54 30.30 30.57 1.42 1,441.67

Ansari Sugar 244 0.28 6.00 6.00 6.00 6.00 0.00 500 6.00 3.80 - - - -

Chashma Sugar 287 0.80 9.77 9.90 9.75 9.88 0.11 6000 11.40 8.00 - - - -

Faran Sugar 217 2.99 18.60 18.50 18.50 18.50 -0.10 128 23.50 15.10 17.5 - - -

Fecto Sugar 146 - 36.60 37.60 36.60 36.75 0.15 501 37.60 13.26 - - - -

Habib Sugar 600 6.06 29.48 29.70 29.41 29.41 -0.07 11080 30.44 22.50 35 25B - -

Habib-ADM Ltd 200 4.50 15.93 16.20 15.40 16.02 0.09 3250 16.98 13.00 40 - 40 -

National FoodsSPOT 414 21.10 44.98 45.50 43.30 44.10 -0.88 1561 65.29 41.35 - 25B 12 -

Noon Pakistan 48 11.98 25.90 27.19 24.61 25.76 -0.14 570 33.06 22.01 - 10B 12 -

Noon Sugar 165 - 11.25 11.26 11.25 11.26 0.01 1700 14.35 10.00 50 10B - -

Shahmurad Sugar 211 16.23 10.95 11.90 10.60 11.20 0.25 1003 11.90 7.40 15 - - -

Tandlianwala 1177 290.82 32.00 32.90 30.40 31.99 -0.01 41005 35.50 22.42 - - - -

Wazir Ali 80 - 5.51 6.25 5.20 6.25 0.74 795 8.74 5.00 - - - -



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

Performance of SR Automobile and Parts Index


1,032.73 1,063.89 1,028.67 1,044.38 11.65 1.13


68,271 - - 6,768.53 mn 37,822.35 mn 1,046.93


3.82 0.97 25.35 20.42 5.34 1,032.73

Agriautos Ind 144 5.11 70.00 70.50 68.00 69.90 -0.10 6792 78.39 63.01 40 - 90 -

Atlas BatteryXDXB 101 5.21 137.41 139.00 136.10 138.29 0.88 1693 209.00 131.00 100 20B 100 20B

Atlas Engineering Ltd 247 11.99 17.00 17.50 17.00 17.50 0.50 500 19.80 15.90 - 100R - -

Atlas Honda 626 6.85 94.10 98.70 98.40 98.40 4.30 160 127.99 92.00 80 30B - -

Dewan Motors 890 - 1.31 1.80 1.26 1.38 0.07 6243 2.24 1.16 - - - -

General Tyre XD 598 6.05 22.53 22.50 22.10 22.10 -0.43 1001 28.80 21.71 - - 20 -

Ghandhara Nissan 450 - 4.42 4.93 4.21 4.23 -0.19 8535 6.60 4.15 - - - -

Ghani Automobile Ind 200 3.98 4.65 4.75 4.10 4.74 0.09 5003 5.70 3.55 - - - -

Honda Atlas Cars 1428 - 10.49 10.99 10.20 10.57 0.08 2539 14.50 10.05 - - - -

Indus Motors XD 786 4.94 216.59 221.98 216.49 216.49 -0.10 302 287.00 212.29 100 - 150 -

Pak Suzuki 823 9.04 69.29 72.75 70.00 72.75 3.46 26118 89.99 69.25 5 - - -

Sazgar Engineering 125 6.33 24.70 24.95 24.25 24.38 -0.32 4817 27.85 23.91 - 20B 10 20B

Transmission 117 2.20 2.25 2.20 1.84 2.20 -0.05 4501 3.25 1.53 2 - - -



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

Performance of SR Industrial Engineering Index


1,410.67 1,435.44 1,393.71 1,403.60 -7.06 -0.50


147,875 - - 1,336.62 mn 30,051.71 mn 1,435.12


6.64 2.52 38.02 131.49 19.81 1,403.60

AL-Ghazi Tractor 215 5.08 214.08 215.90 212.25 213.92 -0.16 2475 227.45 200.26 400 - 150 -

Bolan Casting 95 5.71 48.27 49.49 48.10 49.47 1.20 23819 50.61 35.25 - 20B 25 10B

Ghandhara Ind 213 2.19 14.00 14.40 13.78 13.90 -0.10 6230 20.24 13.78 - - - -

KSB Pumps 132 8.17 83.00 87.15 79.09 82.00 -1.00 105 91.00 68.50 35 - - -

Millat TractorsXDXB 366 5.45 428.33 436.50 423.00 425.52 -2.81 115246 597.90 423.00 450 25B 650 25B



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

Performance of SR General Industrials Index


890.07 909.88 889.89 898.72 8.65 0.97


38,240 - - 3,043.31 mn 33,328.15 mn 898.72


2.63 1.15 43.91 15.55 5.91 878.71

Cherat Papersack 92 4.46 47.04 47.50 46.30 46.80 -0.24 6769 51.05 34.00 - - 20 25B

ECOPACK Ltd 230 - 1.94 2.28 1.80 1.80 -0.14 19504 2.89 1.70 - - - -

Ghani Glass 970 6.17 60.39 60.40 60.01 60.29 -0.10 3236 61.99 54.65 30 10B 25 10B

MACPAC Films 389 - 3.20 3.80 2.90 3.10 -0.10 302 4.69 2.21 - - - -

Packages Ltd 844 15.43 101.00 103.00 101.50 101.85 0.85 1418 125.96 98.00 32.5 - - -

Siemens Engineering 82 10.49 1160.00 1200.00 1157.99 1176.97 16.97 155 1299.75 995.00 900 - 300 -

Tri-Pack Films 300 8.18 99.00 102.00 100.01 101.95 2.95 6840 105.00 91.00 100 - - -



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

Performance of SR Construction and Materials Index


902.96 919.64 898.38 912.37 9.41 1.04


5,954,697 - - 54,792.74 mn 68,619.40 mn 912.37


6.14 0.44 7.10 19.04 3.10 902.96

Al-Abbas Cement 1828 - 3.20 3.38 3.22 3.24 0.04 2205 4.40 2.82 - - - 100R

Attock Cement 866 5.09 64.34 64.40 63.10 63.89 -0.45 76326 72.40 63.00 50 20B 50 -

Berger Paints 182 - 15.16 15.58 15.03 15.19 0.03 27140 20.00 14.50 - - - 122R

Dadabhoy Cement 982 11.92 1.73 1.74 1.55 1.55 -0.18 5004 2.74 1.30 - - - -

Dewan Cement 3574 - 1.53 1.53 1.41 1.48 -0.05 36168 2.20 1.30 - - - -

DG Khan Cement Ltd 3651 33.38 23.92 24.25 23.80 24.03 0.11 2001142 28.74 23.02 - 20R - 20R

EMCO Ind 350 - 3.42 3.43 2.55 2.57 -0.85 154 5.15 2.11 - - - -

Fauji Cement 6933 11.93 4.69 4.80 4.60 4.77 0.08 172919 5.50 4.50 - - - -

Flying Cement Ltd 1760 - 1.93 1.99 1.85 1.90 -0.03 4984 2.37 1.75 - - - -

Frontier Ceramics 77 - 3.38 4.00 2.40 4.00 0.62 6281 4.69 1.55 - - - -

Gharibwal Cement 2319 - 3.60 3.90 3.20 3.84 0.24 45376 7.50 2.11 - - - -

Kohat Cement 1288 - 6.10 6.00 6.00 6.00 -0.10 81996 7.38 5.70 - - - -

Lafarge Pakistan Cmt. 13126 - 2.84 2.90 2.80 2.83 -0.01 310665 3.53 2.60 - - - -

Lucky Cement 3234 6.36 69.16 71.15 69.40 70.77 1.61 1063006 73.88 62.60 40 - 40 -

Maple Leaf Cement 3723 - 2.83 2.84 2.80 2.81 -0.02 57327 3.84 2.75 - - - -

Pioneer Cement 2228 - 7.42 7.85 7.41 7.69 0.27 62219 8.47 6.31 - - - -

Safe Mix Concrete 200 - 6.40 6.48 6.20 6.34 -0.06 8640 9.47 5.50 - - - -

Thatta Cement 798 - 19.78 19.85 19.11 19.27 -0.51 2001610 21.80 17.74 - - - -



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

Performance of SR Industrial Metals and Mining Index


969.29 985.03 946.75 967.09 -2.19 -0.23


24,075 - - 3,596.11 mn 9,214.07 mn 977.29


2.96 0.98 33.10 30.91 10.43 957.68

Crescent Steel 565 3.35 24.45 24.90 24.10 24.75 0.30 2001 31.73 23.75 - - 30 -

Dost Steels Ltd 675 - 2.03 2.28 2.04 2.04 0.01 1524 3.20 1.65 - - - -

Huffaz Pipe 555 6.41 15.56 16.25 15.03 15.33 -0.23 8962 16.75 13.00 - 30B - -

International Ind 1199 4.70 48.80 49.50 47.80 48.27 -0.53 11437 70.71 47.50 - - 40 20B

Siddiqsons Tin 785 18.18 9.00 8.91 8.41 8.91 -0.09 151 11.25 8.20 10 - 7.5 -



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

Performance of SR Forestry & Paper Index


1,174.26 1,194.95 1,160.12 1,168.25 -6.01 -0.51


10,564 - - 1,186.83 mn 3,241.70 mn 1,179.91


6.09 0.45 7.47 25.28 4.15 1,168.25

Century Paper 707 - 19.67 19.89 19.50 19.55 -0.12 2471 22.70 15.90 - 425R - -

Pak Paper ProductXDXB 50 4.30 42.95 44.90 41.30 41.30 -1.65 5052 62.85 41.30 20 - 25 33.33B

Security Paper 411 4.73 40.00 40.79 39.53 39.99 -0.01 3041 50.40 38.10 50 - 50 -



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

Performance of SR Chemicals Index


1,131.65 1,144.24 1,128.76 1,135.34 3.69 0.33


6,852,230 - - 52,251.88 mn 259,371.84 mn 1,149.48


6.88 2.41 35.00 48.81 7.10 1,131.65

Agritech Limited 3924 - 23.68 23.01 23.01 23.01 -0.67 500 27.79 21.15 - - - -

Bawany Air 68 1.54 13.00 13.25 12.00 12.00 -1.00 6806 16.78 10.06 - - 5 10R

BOC (Pak) 250 9.58 77.00 78.50 75.15 75.32 -1.68 127 82.50 66.90 90 - 15 -

Dawood Hercules 1203 7.60 165.69 168.00 164.00 164.75 -0.94 1595 185.88 155.38 40 10B 20 -

Descon Chemical 1996 - 2.03 2.10 2.05 2.10 0.07 36744 3.15 1.78 - - - -

Descon Oxychem Ltd. 1020 - 4.44 4.67 4.05 4.17 -0.27 73576 5.45 3.20 - - - -

Dewan Salman 3663 - 1.34 1.40 1.30 1.38 0.04 197606 2.21 1.28 - - - -

Dynea Pak 94 4.12 11.50 12.09 11.04 11.04 -0.46 106 13.60 10.85 15 - 15 -

Engro Corp. Ltd XD 3277 9.00 174.21 176.75 173.56 175.50 1.29 443423 194.59 165.60 6010B 40R 20 -

Engro Polymer 6635 - 13.03 14.03 13.30 14.03 1.00 1815084 14.03 9.57 - 27.5R - -

Fatima Fertilizer 22000 - 11.24 11.10 10.90 11.02 -0.22 39049 12.46 9.02 - - - -

Fauji Fertilizer 6785 7.15 104.84 105.50 104.90 105.07 0.23 165500 113.39 102.96 131.5 10B 75 -

Fauji Fert. Bin Qasim 9341 6.91 27.10 27.28 27.02 27.15 0.05 97911 30.65 26.59 40 - 5 -

Gatron Ind 384 3.69 39.00 40.80 39.50 39.50 0.50 180 48.30 36.80 - - 20 -

Ghani Gases Ltd 725 - 11.14 11.65 10.91 11.37 0.23 266610 11.65 7.41 - - - -

ICI Pakistan XD 1388 6.97 117.10 118.40 116.26 116.93 -0.17 129054 128.30 109.50 80 - 55 -

Lotte Pakistan 15142 2.94 8.39 8.63 8.40 8.46 0.07 3459728 9.09 6.75 5 - - -

Nimir Ind Chemical 1106 67.00 1.39 1.40 1.30 1.34 -0.05 128597 1.81 1.16 - - - -

Shaffi Chemical 120 1.20 2.70 2.99 2.07 2.50 -0.20 7046 3.80 2.00 - - - -

Sitara Chem Ind 204 5.32 119.89 122.50 117.77 120.54 0.65 5798 138.00 110.03 75 - 25 5B

Sitara Peroxide 551 - 8.18 8.38 8.00 8.03 -0.15 52713 11.09 7.67 - - - -

United Distributors 92 3.28 16.06 16.79 15.15 15.21 -0.85 184 17.99 15.00 10 10B - -



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

Performance of SR Pharma and Bio Tech Index


816.14 829.15 803.52 824.06 7.92 0.97


52,758 - - 3,904.20 mn 27,763.16 mn 824.06


5.64 1.26 22.31 44.54 7.89 816.14

Abbott (Lab) 979 7.74 88.51 88.50 85.10 88.29 -0.22 5986 95.50 77.00 120 - 20 -

Ferozsons (Lab) 208 6.96 101.98 107.00 99.03 106.11 4.13 19536 124.00 96.00 10 20B - 20B

GlaxoSmithKline 1707 12.36 67.40 69.00 67.00 68.50 1.10 6004 83.77 65.00 50 - - -

IBL HealthCare Ltd 200 15.67 7.30 7.84 7.05 7.05 -0.25 1001 8.66 6.10 - - - -

Otsuka Pak 100 4.18 28.80 29.49 27.50 27.52 -1.28 1111 34.99 27.50 15 - - -

Searle Pak 306 5.33 62.00 62.50 61.85 62.14 0.14 19120 64.05 53.36 15 15B 30 -



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

Performance of SR Industrial Transportation Index


685.01 718.59 656.48 694.19 9.18 1.34


75,023 - - 3,242.17 mn 12,861.14 mn 694.19


5.47 1.40 25.53 11.08 2.02 677.22

Pak Int Cont. Terminal XD 1092 8.13 66.13 69.43 62.83 66.30 0.17 5135 87.86 62.75 - 20B 40 -

PNSCSPOT 1321 5.55 38.75 40.68 38.06 40.68 1.93 69888 41.74 34.50 30 - 15 -



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

BOOK CLOSURES

Sana Industries 02-Oct 09-Oct 60 24-Sep 09-OctMillat Tractors 04-Oct 15-Oct 350(F),25(B) 24-Sep 15-OctAtlas Engineering 05-Oct 11-Oct - - 11-OctDescon Chemicals 06-Oct 12-Oct - - 12-OctPak Int Cont Terminal 06-Oct 13-Oct - - 13-OctDescon Oxychem 07-Oct 13-Oct - - 13-OctNational Foods 07-Oct 15-Oct 12 29-Oct 15-OctPak National Shipping Corp 07-Oct 14-Oct 15 29-Sep 14-OctAmtex Ltd 08-Oct 15-Oct 30 30-Sep 15-OctIsland Tex Mills 08-Oct 16-Oct 50 30-Sep 16-OctJS Global Capital 08-Oct 14-Oct 50 30-Sep 14-OctOtsuka Pakistan 08-Oct 14-Oct - - 14-OctSalfi Tex Mills 08-Oct 16-Oct 25 30-Sep 16-OctTata Tex Mills 08-Oct 16-Oct 25 30-Sep 16-OctMerit Packaging 09-Oct 15-Oct - - 15-OctAl-Meezan Mutual Fund 11-Oct 19-Oct 8.5(F) 01-Oct -Ghandhara Industries 11-Oct 19-Oct - - 19-OctHabib ADM 11-Oct 20-Oct 40 01-Oct 20-OctMeezan Balanced Fund 11-Oct 19-Oct 5.5(F) 01-Oct -Bolan Castings 12-Oct 25-Oct 25,10(B) - 25-OctCherat Cement 12-Oct 26-Oct - - 26-OctClover Pakistan 12-Oct 18-Oct 15(F) 04-Oct 18-OctGatron (Industries) 12-Oct 18-Oct 20 04-Oct 18-Oct

# Extraordinary General Meeting

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

Pakistan CablesXD 59.48 60 56.55 59.45 -0.03 2023TRG Pakistan Ltd 3.99 4.37 4 4.27 0.28 7355750Murree Brewery 93.71 97.05 90 92.08 -1.63 37027Shezan International 95 99.75 95.15 95.26 0.26 1721Lakson Tobacco 283.97 298.16 298.16 298.16 14.19 3532Shifa Int Hosp XD 35.01 36.71 33.26 33.46 -1.55 468Eye Television 20.31 21.32 21 21.31 1 7474PIAC (A) 2.21 2.24 2 2.2 -0.01 146866AKD Capital 46.94 47.9 44.65 46.93 -0.01 2927Pace (Pak) Ltd 2.71 2.78 2.66 2.72 0.01 239724Netsol Technol 17.79 17.98 17.71 17.8 0.01 249157

Symbols Open High Low Close Change Vol

Saturday, October 2, 20107

Technical Analysis Leverage Position

KSE 100 INDEX

Technical Outlook

KSE 100 INDEX closed up 29.13 points at 10,042.44. Volume was 16

per cent below average and Bollinger Bands were 44 per cent narrower

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

major 1st resistance level at 10,098.60 and 2nd resistance level at

10,154.75, while Index will continue to find its 1st support level at

9,994.35 and 2nd support level at 9,946.25.

KSE 100 INDEX is currently 1.3 per cent above its 200-day moving

average and is displaying an upward trend. Volatility is extremely low

when compared to the average volatility over the last 10 trading ses-

sions. Volume indicators reflect volume flowing into and out of

INDEX at a relatively equal pace. Trend forecasting oscillators are

currently bullish on INDEX.

RSI (14-day) 57.22 Support 1 9,994.35

MA (5-day) 10,007.41 Support 2 9,946.25

MA (10-day) 9,981.58 Resistance 1 10,098.60

MA (100-day) 9,873.56 Resistance 2 10,154.75

MA (200-day) 9,921.02 Pivot 10,050.50


Nishat Mills Ltd

Brokerage House Fair Value Rs Recommendations

Technical Outlook

NML closed up 1.17 at 47.17. Volume was 64 per cent above average and

Bollinger Bands were 31 per cent narrower than normal.

NML is currently 11.8 per cent below its 200-day moving average and is

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

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

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

forecasting oscillators are currently bullish on NML.

*Arif Habib Ltd 65 Buy

AKD Securities Ltd 61.46 Buy

TFD Research 74.2 Positive

RSI (14-day) 54.61 Free Float Shares (mn) 175.80

MA (10-day) 47.03 Free Float Rs (mn) 8,292.48

MA (100-day) 46.59 ** NOI Rs (mn) 16.76

MA (200-day) 53.49 Mean 46.68

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


United Bank Ltd


Technical Outlook

UBL closed up 0.54 at 51.95. Volume was 275 per cent above average

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

UBL is currently 11.2 per cent below its 200-day moving average and is

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


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

forecasting oscillators are currently bearish on UBL.


AKD Securities Ltd 63 Accumulate




MA (100-day) 54.50 ** NOI Rs (mn) 0.46

MA (200-day) 58.47 Mean 51.94



Bank Alfalah Ltd


Technical Outlook

BAFL closed up 0.09 at 8.29. Volume was 59 per cent above average and

Bollinger Bands were 53 per cent narrower than normal.

BAFL is currently 23.5 per cent below its 200-day moving average and is

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


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

oscillators are currently bullish on BAFL.






MA (100-day) 8.97 ** NOI Rs (mn) N/A

MA (200-day) 10.84 Mean 8.30



Dera Ghazi Khan Cement Co Ltd


Technical Outlook

DGKC closed up 0.11 at 24.03. Volume was 26 per cent below average

and Bollinger Bands were 27 per cent narrower than normal.

DGKC is currently 12.8 per cent below its 200-day moving average and is

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


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

Trend forecasting oscillators are currently bullish on DGKC.






MA (100-day) 24.99 ** NOI Rs (mn) 16.53

MA (200-day) 27.56 Mean 24.00



Pakistan Oilfields Ltd


Technical Outlook

POL closed down -2.49 at 234.64. Volume was 57 per cent above average


POL is currently 1.6 per cent above its 200-day moving average and is dis-

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

average volatility over the last 10 trading sessions. Volume indicators

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

ing oscillators are currently bullish on POL.






MA (100-day) 224.53 ** NOI Rs (mn) 116.63

MA (200-day) 230.97 Mean 235.38



National Bank of Pakistan


Technical Outlook

NBP closed down -0.03 at 63.36. Volume was 38 per cent below average


NBP is currently 3.6 per cent below its 200-day moving average and is dis-



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

ing oscillators are currently bullish on NBP.


AKD Securities Ltd 64.64 Neutral




MA (100-day) 65.65 ** NOI Rs (mn) 34.48

MA (200-day) 72.87 Mean 63.49



Pakistan State Oil Co Ltd


Technical Outlook

PSO closed down -1.25 at 267.45. Volume was 36 per cent above average


PSO is currently 6.7 per cent below its 200-day moving average and is dis-



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

ing oscillators are currently bullish on PSO.






MA (100-day) 266.06 ** NOI Rs (mn) 87.48

MA (200-day) 286.71 Mean 268.62


EQUITY INVESTMENT INSTRUMENTS

Performance of SR Equity Investment Instruments Index


1,029.98 1,042.33 1,011.39 1,025.02 -4.95 -0.48


1,398,411 - - 29,771.58 mn 17,467.37 mn 1,029.98


6.65 0.27 4.09 104.19 27.54 1,017.60

1st Fid Leasing 264 - 1.39 2.00 1.20 1.37 -0.02 40015 2.24 1.01 - - - -

AL-Meezan Mutual F. 1375 2.69 6.91 7.05 6.90 6.96 0.05 12510 7.25 6.35 - - 18.5 -

B R R Guardian Mod. 780 - 1.30 1.36 1.25 1.30 0.00 12001 2.43 0.90 - - - -

Crescent St Modaraba 200 1.85 0.51 0.54 0.45 0.50 -0.01 3014 0.90 0.16 - - - -

Elite Cap Modaraba 113 3.46 2.83 2.26 2.25 2.25 -0.58 501 3.49 1.65 4.5 - 5 -

Equity Modaraba 524 7.46 1.00 1.11 0.86 0.97 -0.03 73356 1.68 0.76 - - - -

First Dawood Mutual F. 581 - 1.77 1.70 1.70 1.70 -0.07 445 2.09 1.30 - - - -

Golden Arrow 760 4.02 3.67 3.77 3.60 3.70 0.03 104640 3.77 2.32 - - 17 -

H B L Modaraba 397 5.74 6.37 6.63 6.40 6.49 0.12 16165 6.63 4.80 5 - 11 -

Habib Modaraba 1008 4.51 5.99 6.00 5.94 6.00 0.01 32000 7.49 5.56 20 - 21 -

JS Growth Fund 3180 37.50 3.09 3.19 3.00 3.00 -0.09 17030 4.39 2.70 - - 5 -

JS Value Fund 1186 - 2.86 3.00 2.70 2.93 0.07 25084 3.98 2.31 10 - 10 -

Meezan Balanced Fund 1200 2.85 5.92 5.90 5.90 5.90 -0.02 9430 7.49 5.85 - - 15.5 -

Nat Bank Modaraba 250 7.14 7.72 7.75 7.00 7.50 -0.22 33000 8.45 6.10 - - 10 -

Pak Prem Fund XD 1698 3.69 7.91 7.95 7.70 7.74 -0.17 14194 9.86 7.00 - - 18.6 -

Pak Strat Fund 3000 5.46 6.96 7.00 6.97 6.99 0.03 565051 8.10 6.01 - - 11.53 -

PICIC Energy Fund 1000 2.42 4.65 4.80 4.54 4.55 -0.10 9510 6.49 4.00 - - 5 -

PICIC Growth Fund 2835 2.24 8.29 8.29 8.10 8.14 -0.15 55321 10.55 7.60 - - 20 -

PICIC Inv Fund XD 2841 1.82 3.56 3.67 3.55 3.60 0.04 38057 5.00 3.50 - - 10 -

Prud Modaraba 1st XD 872 2.63 0.86 1.00 0.85 1.00 0.14 312528 1.20 0.70 - - 3 -

Stand Chart Mod. XD 454 4.77 8.43 8.50 8.40 8.40 -0.03 19926 10.99 7.75 16.5 - 17 -

Trust Modaraba 298 3.04 3.30 2.40 2.40 2.40 -0.90 500 4.40 1.00 - - 5 -

U D L Modaraba 264 2.43 6.00 6.11 6.10 6.10 0.10 4081 6.11 5.00 10 - - -



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

Performance of SR Financial Services Index


358.69 368.84 348.41 356.81 -1.88 -0.53


3,966,725 - - 30,336.44 mn 26,131.33 mn 358.69


0.44 0.17 37.22 4.60 10.36 352.61

AMZ Ventures 225 - 0.55 0.60 0.53 0.59 0.04 7542 1.19 0.42 - - - -

Arif Habib Invest. XB 360 6.78 14.65 14.98 14.06 14.50 -0.15 12876 20.99 13.75 - - - 20B

Arif Habib Limited XB 450 6.48 26.21 26.79 25.82 26.00 -0.21 20559 50.12 25.82 15 25B - 20B

Arif Habib Securities 3750 2.23 22.80 23.10 22.50 22.60 -0.20 601294 35.65 21.76 - - 30 -

Dawood Equities 250 - 1.94 2.15 1.80 2.14 0.20 3502 3.36 1.55 - - - -

IGI Investment Bank 2121 - 1.75 1.85 1.35 1.78 0.03 6721 2.80 1.17 - - - -

Invest and Fin Sec 600 2.74 7.18 8.14 7.15 7.86 0.68 6094 9.00 6.90 - - 11.5 -

Invest Bank 2849 - 0.56 0.64 0.52 0.53 -0.03 315 1.23 0.50 - - - -

Ist Cap Securities 2878 - 3.82 4.40 3.64 4.12 0.30 84119 5.90 2.54 - 10B - -

Ist Dawood Bank 626 0.31 2.00 2.11 1.83 1.88 -0.12 229249 2.84 1.17 - - - -

Jah Siddiq Co 7633 14.19 9.97 10.14 9.71 9.79 -0.18 2631617 15.47 9.36 -243.778B 10 -

JOV and CO 508 - 2.64 2.73 2.56 2.64 0.00 227707 6.48 2.31 - - - -

JS Global CapSPOT 500 - 33.93 34.50 33.05 33.60 -0.33 3717 42.40 33.01 150 - - -

JS Investment 1000 12.73 5.69 5.85 5.66 5.73 0.04 46735 8.65 5.40 - - - -

KASB Securities 1000 - 4.05 4.35 3.90 3.94 -0.11 8548 5.49 3.20 - - - -

Orix Leasing 821 3.94 5.12 5.18 4.71 5.00 -0.12 12570 5.95 3.66 - - - -

Pervez Ahmed Sec 775 - 1.47 1.74 1.47 1.61 0.14 61340 2.89 1.35 -231.08R - -

Stand Chart Leasing 978 5.09 2.34 2.25 2.24 2.24 -0.10 1301 3.89 1.50 - - - -

Trust Inv Bank 586 - 2.00 2.00 2.00 2.00 0.00 778 4.25 1.50 - - - -



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

Performance of SR Banks Index


937.80 951.52 928.70 938.12 0.32 0.03


13,361,357 - - 257,548.02 mn 580,129.33 mn 941.49


6.72 0.90 13.45 34.35 5.11 929.94

Allied Bank Limited 7821 5.51 51.48 52.00 50.80 51.05 -0.43 3992 59.70 48.51 40 10B 20 -

Askari Bank 6427 5.99 14.83 15.00 14.42 14.49 -0.34 184243 17.46 13.99 - 20B - -

Atlas Bank 5001 - 1.75 1.97 1.80 1.81 0.06 3679 3.00 1.52 - - - -

Bank Alfalah 13492 11.05 8.20 8.50 8.21 8.29 0.09 2162840 10.25 7.32 8 - - -

Bank AL-Habib 7322 6.70 31.05 31.25 30.75 31.09 0.04 98022 34.00 29.10 20 20B - -

Bank Of Khyber 5004 3.27 3.39 3.39 3.05 3.27 -0.12 1862 4.75 2.50 - - - -

Bank Of Punjab 5288 - 8.05 8.30 8.05 8.21 0.16 343960 11.24 7.35 - - - -

BankIslami Pak 5280 - 3.32 3.34 3.05 3.23 -0.09 59026 3.90 2.31 - - - -

Faysal Bank 6091 3.08 13.45 13.60 13.01 13.38 -0.07 1716 15.95 12.75 - - - -

Habib Bank Ltd 10019 6.08 95.22 95.92 94.10 94.50 -0.72 21722 109.10 92.00 60 10B - -

Habib Metropolitan Bank 8732 5.68 19.14 19.50 18.68 19.20 0.06 517 23.75 18.10 10 16B - -

JS Bank Ltd 6128 - 2.45 2.45 2.32 2.33 -0.12 500982 3.00 2.00 - - - 66R

KASB Bank Ltd 9509 - 2.60 2.35 2.30 2.35 -0.25 3329 4.00 2.03 - 26B - -

MCB Bank Ltd 7602 8.79 188.31 189.99 187.26 188.39 0.08 377245 214.99 180.40 110 10B 55 -

Meezan Bank 6983 7.26 14.62 15.00 14.64 14.95 0.33 10050 16.50 13.80 - 5B - -

National Bank 13455 5.32 63.39 64.00 63.21 63.36 -0.03 1288140 73.89 60.51 75 25B - -

NIB Bank 40437 - 2.66 2.68 2.60 2.65 -0.01 541046 3.50 2.42 - - - -

Royal Bank Ltd 17180 - 6.00 6.10 5.75 5.78 -0.22 48321 13.40 5.65 - - - -

Samba Bank 14335 - 1.81 1.97 1.80 1.91 0.10 15870 2.90 1.55 - - -63.46R

Silkbank Ltd 26716 13.68 2.85 3.05 2.90 3.01 0.16 4729452 3.30 2.15 - - - -

Soneri Bank 6023 - 5.74 6.18 5.20 5.60 -0.14 91988 8.24 5.01 - - - -

Stand Chart Bank 38716 9.29 6.50 6.71 6.31 6.50 0.00 9801 8.50 6.00 - - - -

Summit Bank Ltd 5000 - 2.44 2.58 2.40 2.50 0.06 56539 4.38 2.30 - - - -

United Bank Ltd 12242 6.11 51.41 52.90 51.50 51.95 0.54 2863550 60.20 49.90 25 10B 10 -



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

Performance of SR Non Life Insurance Index


615.54 632.18 610.24 616.99 1.45 0.24


429,745 - - 11,111.34 mn 40,163.42 mn 626.35


9.83 0.51 5.20 79.54 8.09 615.54

Adamjee Insurance XD 1237 11.87 65.09 66.49 65.00 65.26 0.17 65534 89.90 64.00 30 10B 10 -

Ask Gen Insurance 204 6.56 10.60 11.56 11.50 11.54 0.94 700 11.95 8.45 - - - -

EFU General Ins. XB 1250 29.63 37.58 39.45 36.55 37.34 -0.24 4245 55.20 35.52 40 8.7B - -

Habib Insurance 400 7.30 10.49 10.54 10.50 10.51 0.02 11000 13.89 10.10 35 - - -

IGI Insurance 718 12.72 71.75 73.00 70.50 72.00 0.25 8729 79.10 66.02 35 - 10 20B

New Jub Insurance 791 9.28 55.99 56.99 54.25 54.37 -1.62 211 62.50 52.21 30 20B - -

Pak Reinsurance 3000 - 13.22 13.90 13.17 13.56 0.34 338187 19.40 12.50 30 - - -

Pak Gen Insurance 250 1.43 5.06 6.06 6.05 6.06 1.00 1001 8.20 5.06 5 25B - -



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

Performance of SR Gas Water and Multiutilities Index


1,685.77 1,670.19 1,619.05 1,651.65 -34.12 -2.02


2,049,183 - - 12,202.80 mn 36,593.72 mn 1,685.77


12.09 1.38 11.41 66.79 5.52 1,590.46

Sui North Gas 5491 18.04 30.86 30.85 30.21 30.67 -0.19 506802 31.90 25.00 - - - -

Sui South Gas 6712 4.49 30.28 29.85 28.77 29.43 -0.85 1542381 30.70 16.00 - - 15 25B



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

Performance of SR Electricity Index


1,139.61 1,166.65 1,132.54 1,140.74 1.13 0.10


3,544,014 - - 95,369.29 mn 96,395.44 mn 1,149.42


12.46 1.17 9.35 104.13 8.36 1,133.31

Genertech 198 - 0.69 0.95 0.63 0.84 0.15 3050 1.53 0.51 - - - -

Hub Power XD 11572 6.15 33.29 33.70 33.03 33.19 -0.10 768119 37.24 32.40 33.5 - 50 -

Japan Power 1560 - 1.36 1.48 1.21 1.39 0.03 17002 2.38 0.70 - - - -

KESC 7932 - 2.02 2.50 2.01 2.11 0.09 2043442 2.63 1.92 - 31R - 7.8R

Kohinoor Energy 1695 5.82 23.20 23.75 23.50 23.62 0.42 1000 26.50 23.00 45 - 15 -

Kot Addu Power 8803 7.11 41.10 41.50 41.01 41.11 0.01 64420 44.85 39.51 64.5 - 50 -

Nishat Chunian Power Ltd 3673 - 10.92 11.00 10.75 10.83 -0.09 87512 11.00 9.26 - - - -

Nishat Power Ltd 3541 83.43 11.67 11.85 11.62 11.68 0.01 415440 11.94 9.25 - - - -

Sitara Energy Ltd 191 3.82 22.38 23.49 22.30 22.75 0.37 901 23.49 20.00 20 - - -

Southern Electric 1367 5.87 2.34 2.39 2.21 2.29 -0.05 143128 3.21 2.21 - - - -



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

Performance of SR Fixed Line Telecommunication Index


1,092.90 1,114.51 1,086.05 1,090.38 -2.52 -0.23


1,092,760 - - 50,077.79 mn 76,902.64 mn 1,104.91


5.99 0.77 12.84 62.56 10.45 1,090.38

Pakistan Telecomm Co A 37740 8.93 18.80 19.15 18.74 18.75 -0.05 312321 20.22 17.32 15 - 17.5 -

Telecard 3000 - 2.10 2.22 1.95 2.13 0.03 310146 3.18 1.80 - - - -

WorldCall Tele 8606 - 2.43 2.49 2.39 2.41 -0.02 470293 3.30 2.30 - - - -

Wateen Telecom Ltd 6175 - 4.16 4.17 4.02 4.09 -0.07 67603 6.29 3.80 - - - -



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

UPTO 100 VOLUME

CENI 10.16 10.50 10.50 10.50 0.34 100

DADX 26.85 25.51 25.51 25.51 -1.34 100

AASM 26.70 28.00 27.90 27.97 1.27 99

JDWS 64.56 65.80 65.70 65.73 1.17 65

BWHL 29.94 30.79 28.67 30.60 0.66 65

GRYL 1.83 2.35 1.01 2.35 0.52 52

SPLC 0.65 0.80 0.60 0.66 0.01 52

PAKT 111.50 114.99 112.00 112.00 0.50 52

MSOT 22.54 21.46 21.46 21.46 -1.08 50

WAHN 45.48 45.20 45.20 45.20 -0.28 50

BNWM 10.40 10.60 9.70 10.40 0.00 43

ICL 21.83 22.92 22.92 22.92 1.09 33

MFFL 69.00 69.88 65.57 65.72 -3.28 31

SUTM 30.51 32.03 32.03 32.03 1.52 30

BUXL 13.01 12.96 12.02 12.26 -0.75 30

FNEL 9.90 9.90 8.90 9.86 -0.04 27

PINL 9.30 9.20 9.20 9.20 -0.10 25

FPJM 1.14 1.58 1.24 1.24 0.10 22

HADC 1.02 0.97 0.62 0.86 -0.16 20

MERIT 14.05 15.00 14.90 15.00 0.95 16

NESTLE 1900.19 1974.00 1875.09 1904.75 4.56 16

PMRS 37.07 38.44 35.29 36.68 -0.39 14

FECTC 5.20 5.90 4.50 5.43 0.23 14

ILTM 78.44 82.36 82.36 82.36 3.92 13

DWSM 1.50 1.74 1.11 1.64 0.14 13

EFUL 58.98 59.70 57.50 59.70 0.72 12

ATIL 28.98 29.80 28.52 28.72 -0.26 12

NBF 3.30 3.25 2.30 3.23 -0.07 11

KASBM 1.70 1.90 1.51 1.51 -0.19 11

AGSML 10.70 11.70 10.50 10.67 -0.03 11

KOHS 4.96 4.99 4.01 4.99 0.03 11

DSML 3.00 3.50 3.50 3.50 0.50 10

SHTM 0.98 0.93 0.93 0.93 -0.05 10

CRTM 20.61 21.64 21.64 21.64 1.03 10

SANSM 13.84 13.90 13.90 13.90 0.06 10

ISIL 74.00 75.00 75.00 75.00 1.00 10

PSEL 160.25 160.25 160.24 160.25 0.00 10

CHCC 10.96 10.99 10.90 10.99 0.03 8

SIBL 2.99 2.96 2.12 2.12 -0.87 7

IDRT 4.49 5.35 4.58 4.58 0.09 6

MTIL 0.45 0.98 0.41 0.54 0.09 6

FCONM 1.79 1.91 1.91 1.91 0.12 5

PTEC 1.66 2.20 1.68 1.85 0.19 5

MYBL 2.13 2.30 2.02 2.12 -0.01 4

PRET 29.21 29.48 29.00 29.47 0.26 4

MRNS 52.70 52.98 52.98 52.98 0.28 4

GLPL 69.75 73.00 66.38 66.38 -3.37 4

DIIL 16.95 17.95 15.95 17.94 0.99 4

DREL 636.00 660.00 660.00 660.00 24.00 4

ELCM 7.80 8.80 8.80 8.80 1.00 3

PSYL 6.21 7.10 6.00 6.61 0.40 3

SHJS 49.71 52.19 49.80 52.19 2.48 3

STCL 8.60 9.45 9.35 9.35 0.75 3

GRAYS 58.00 60.00 59.75 60.00 2.00 3

CPAL 2.44 2.99 2.99 2.99 0.55 2

KOSM 1.20 1.75 1.75 1.75 0.55 2

ICCT 0.85 1.18 0.99 1.09 0.24 2

COTT 0.80 1.50 1.01 1.26 0.46 2

MIRKS 58.19 60.50 60.50 60.50 2.31 2

EXIDE 144.99 148.49 138.01 148.49 3.50 2

PGCL 21.48 20.41 20.41 20.41 -1.07 2

CLOV 43.75 45.44 45.44 45.44 1.69 2

UPFL 1038.88 1030.00 988.95 1030.00 -8.88 2

RMPL 1300.00 1300.00 1300.00 1300.00 0.00 2

TSMF 1.88 1.99 1.99 1.99 0.11 1

FIMM 67.08 67.08 67.08 67.08 0.00 1

FTSM 2.99 3.44 3.44 3.44 0.45 1

ESBL 2.55 2.89 2.80 2.80 0.25 1

FCIBL 3.00 3.44 3.44 3.44 0.44 1

SSIC 6.22 7.18 7.18 7.18 0.96 1

SSML 2.00 2.35 2.35 2.35 0.35 1

NAKI 15.49 16.49 16.49 16.49 1.00 1

DLL 41.80 42.49 42.49 42.49 0.69 1

MOON 11.00 10.00 10.00 10.00 -1.00 1

ALNRS 42.00 42.50 42.50 42.50 0.50 1

HWQS 21.00 22.00 22.00 22.00 1.00 1

MDTL 57.80 58.45 58.45 58.45 0.65 1

LPGL 9.51 8.51 8.51 8.51 -1.00 1

LEUL 1.85 2.50 2.50 2.50 0.65 1

PHDL 60.59 57.57 57.57 57.57 -3.02 1


FUTURE CONTRACTS

POL-OCT 237.81 237.49 233.60 235.50 -2.31 640500

NML-OCT 44.04 45.20 44.05 45.09 1.05 357500

PSO-OCT 268.47 272.00 267.15 267.94 -0.53 225000

NBP-OCT 63.82 64.20 63.45 63.69 -0.13 147000

DGKC-OCT 24.01 24.30 23.92 24.13 0.12 117500

MCB-OCT 188.50 189.80 188.00 188.51 0.01 116000

ENGRO-OCT 174.70 177.00 174.50 175.79 1.09 94500

LUCK-OCT 65.99 67.70 66.00 67.57 1.58 63000

ANL-OCT 10.18 10.40 10.20 10.25 0.07 60000

PPL-OCT 172.80 173.80 172.65 173.28 0.48 22500

AICL-OCT 65.36 65.75 65.55 65.64 0.28 18500

OGDC-OCT 144.85 146.50 144.00 145.70 0.85 16500

PTC-OCT 18.99 19.05 19.00 19.05 0.06 9000

UBL-OCT 53.00 52.60 52.60 52.60 -0.40 1000

AICL-COCT 65.92 0.00 0.00 66.08 0.16 0.00

ABL-COCT 52.14 0.00 0.00 51.69 -0.45 0.00


ZERO VOLUME

ARUJ 3.50 3.65 3.65 3.65 0.15 0.00

BGL 1.87 1.80 1.80 1.80 -0.07 0.00

FTHM 114.00 115.00 115.00 115.00 1.00 0.00

HMIM 0.62 0.70 0.70 0.70 0.08 0.00

IDYM 234.21 234.20 234.20 234.20 -0.01 0.00

MODAM 1.13 1.04 1.04 1.04 -0.09 0.00


Al-Abbas Cement 42.51 3.20 3.10 3.35 3.45 3.30

Allied Bank Limited 42.86 50.55 50.10 51.75 52.50 51.30

Attock Cement 33.94 63.20 62.50 64.50 65.10 63.80

Arif Habib Limited 28.82 25.60 25.25 26.60 27.15 26.20

Arif Habib Securities 38.55 22.35 22.15 22.95 23.35 22.75

Adamjee Insurance 32.91 64.65 64.10 66.15 67.05 65.60

Askari Bank 45.14 14.30 14.05 14.85 15.20 14.65

Azgard Nine 48.52 10.05 9.95 10.35 10.50 10.20

Attock Petroleum 70.54 339.10 336.90 343.40 345.50 341.20

Attock Refinery 45.06 79.45 78.55 81.30 82.25 80.40

Bank Alfalah 53.87 8.15 8.05 8.45 8.60 8.35

BankIslami Pak 52.80 3.10 2.90 3.35 3.50 3.20

Bank Of Punjab 45.76 8.10 7.95 8.35 8.45 8.20

Dewan Cement 47.04 1.40 1.35 1.55 1.60 1.45

DGK Cement 42.21 23.80 23.60 24.25 24.50 24.05

Dewan Salman 41.16 1.30 1.25 1.40 1.45 1.35

Dost Steels Ltd 43.19 1.95 1.90 2.20 2.35 2.10

EFU General Insurance 36.85 36.10 34.90 39.00 40.70 37.80

EFU Life Assurance 45.14 58.25 56.75 60.45 61.15 58.95

Engro Chemical 49.83 173.80 172.10 177.00 178.45 175.25

Faysal Bank 43.23 13.05 12.75 13.65 13.90 13.35

Fauji Cement 42.39 4.65 4.50 4.85 4.90 4.70

Fauji Fert Bin 43.08 27.00 26.90 27.30 27.40 27.15

Fauji Fertilizer 47.21 104.80 104.55 105.40 105.75 105.15

Habib Bank Ltd 43.13 93.75 93.00 95.60 96.65 94.85

Hub Power 38.23 32.90 32.65 33.60 34.00 33.30

ICI Pakistan 41.84 116.00 115.05 118.15 119.35 117.20

Indus Motors 36.19 214.65 212.85 220.15 223.80 218.30

JOV and CO 27.91 2.55 2.45 2.70 2.80 2.65

Japan Power 43.48 1.25 1.10 1.50 1.65 1.35

JS Bank Ltd 49.99 2.30 2.25 2.40 2.50 2.35

Jah Siddiq Co 44.21 9.60 9.45 10.05 10.30 9.90

Kot Addu Power 45.42 40.90 40.70 41.40 41.70 41.20

KESC 52.75 1.90 1.70 2.40 2.70 2.20

Lucky Cement 57.62 69.75 68.70 71.50 72.20 70.45

MCB Bank Ltd 48.39 187.10 185.80 189.85 191.30 188.55

Maple Leaf Cement 33.92 2.75 2.70 2.85 2.90 2.80

National Bank 44.07 63.05 62.75 63.85 64.30 63.50

Nishat (Chunian) 57.20 16.45 15.80 17.40 17.70 16.75

Netsol Technologies 32.57 17.70 17.55 17.95 18.10 17.85

NIB Bank 46.28 2.60 2.55 2.70 2.75 2.65

Nimir Ind Chemical 38.85 1.30 1.25 1.40 1.45 1.35

Nishat Mills 54.61 46.20 45.25 47.85 48.55 46.90

Oil & Gas Dev. XD 58.39 145.15 143.65 148.10 149.50 146.60

PACE (Pakistan) Ltd. 52.43 2.65 2.60 2.80 2.85 2.70

Pervez Ahmed Sec 48.24 1.50 1.35 1.75 1.90 1.60

PIAC (A) 50.72 2.05 1.90 2.30 2.40 2.15

Pioneer Cement 48.96 7.45 7.20 7.90 8.10 7.65

Pak Oilfields 58.20 232.60 230.55 236.85 239.05 234.80

Pak Petroleum 29.26 171.80 170.50 174.20 175.30 172.90

Pak Suzuki 41.63 70.90 69.10 73.65 74.60 71.85

PSO XD 56.71 265.40 263.30 270.65 273.90 268.60

PTCLA 51.21 18.60 18.45 19.00 19.30 18.90

Shell Pakistan 38.66 192.25 191.30 194.45 195.75 193.55

Sui North Gas 64.21 30.30 29.95 30.95 31.20 30.60

Sitara Peroxide 34.89 7.90 7.75 8.30 8.50 8.15

Sui South Gas 79.34 28.85 28.25 29.95 30.45 29.35

Telecard 44.28 2.00 1.85 2.25 2.35 2.10

TRG Pakistan 63.36 4.05 3.85 4.40 4.60 4.20

United Bank Ltd 42.24 51.35 50.70 52.75 53.50 52.10

WorldCall Tele 41.72 2.40 2.35 2.50 2.55 2.45

Company RSI 1st 2nd 1st 2nd Pivot

(14-day) Support Resistance

TECHNICAL LEVELS

Al-Abid Silk Mills Ltd 02-Oct 11:00

KASB Cash Fund 02-Oct 11:00

Kohinoor Mills Ltd 02-Oct 3:00

Punjab Oil Mills Ltd 02-Oct 10:00

Samin Textiles Ltd 02-Oct 3:00

Sardar Chemical Industries Ltd 02-Oct 10:00

Huffaz Seamless Pipe Industries Ltd 03-Oct 11:30

(TFC) Saudi Pak Leasing Co Ltd 04-Oct 11:30

Allawasaya Textile & Finishing 04-Oct 3:30

Balochistan Particle Board Ltd 04-Oct 12:00

Dawood Capital Management Ltd 04-Oct 11:00

Dawood Equities Ltd 04-Oct 12:00

Dawood Islamic Fund 04-Oct 11:00

Dawood Money Market Fund 04-Oct 11:00

Dewan Automotive Engineering Ltd 04-Oct 4:00

Dewan Cement Ltd 04-Oct 6:30

Dewan Farooque Motors Ltd 04-Oct 3:30

Dewan Farooque Spinning Mills Ltd 04-Oct 4:30

Dewan Khalid Textile Mills Ltd 04-Oct 5:30

Dewan Mushtaq Textile Mills Ltd 04-Oct 6:00

BOARD MEETINGS

Company Date Time

Saturday, October 2, 2010 8

‘AnjaanaAnjaani’

full ofsurprises

If the makers of AnjaanaAnjaani are to be believed,they are putting their

money till the last minute ofthe film. Well, literally. As perthose who have had a dekko atthe film, it's the penultimate20 minutes that take the filmto an all time high.

Quiz director SiddharthAnand about this and he does-n't deny the fact, "See, for methe entire movie is a highlightin itself. I am attached toevery single frame. But thenyes, the entire pre-climax andclimax have been dealt withspecial care because audi-ences do expect somethingspectacular around this time.This is why you would see adouble twist in the end."

While Siddharth is refusingto divulge anything more atthis point in time, a sourceinforms, "You may think thatthe film's climax is arrivingand are pretty much sureabout what would happennext. However, there is a fur-ther twist in the tale and theway the story ends is some-thing which is absolutely newand original. The culminationof two principal characters -Ranbir and Priyanka - is com-pletely different from whatyou would have seen earlier.

Ask producer SajidNadiadwala about this and allthat he is willing to commentis, "Anjaana Anjaani is a holdsno bar affair. It is cutting edge.It has moments where youwill remember moments fromyour own life.

Emma namedbest-dressed

Brit

Harry Potter star EmmaWatson has beennamed Britain's best-

dressed woman in a new poll.Singer-turned-fashion design-er Victoria Beckham camesecond, followed by KeiraKnightley, Cheryl Cole andSienna Miller.

Supermodel Kate Mosslanded the sixth spot, withLily Allen, Pixie Lott, NaomiCampbell and Lungs singerFlorence Welch completingthe top 10. Around 25,000people voted in theGlamour.Com Best DressedBrits List.

What young girl doesnot want to have apretty, dreamy room

filled with butterflies? It issimple to create one for her,using your imagination and afew simple crafts. The furni-ture, bedding, and other deco-rations can be easily coordi-nated to make your child’sroom attractive and the roomof her dreams.

It is very important to getyour child’s input about theroom redecoration. She shouldfeel like her ideas are part ofthe room, and depending onhow old she is, allow her tohelp with the painting, sewingor other crafts as well aschoosing accessories.

Color is very important tolittle girls. Talk with her aboutwhat color the butterflies inher imagination are. Somegirls will go with pastels,choosing pink and lavender fortheir walls and fabrics. Otherswill see their butterflies inbright shades of yellow, redand blue. The possibilities forher wall colors are endless.Pastels will make the roomseem soft and dreamy. Anotherchoice is to paint the walls a

pretty blue that matches thesky or still another choice is topain the walls white and sten-cil colorful butterflies flittingabout the room. Stencils areeasy to use. Or, you can gowith a border that features but-terflies in the colors of herchoice. Perhaps you want towallpaper the entire room oreven one wall with an attrac-tive butterfly print. Wallpaperis usually easier to do with twopeople, so enlist some help ifthat is your choice.

The color of the carpet canadd to the room’s charm andtheme, as well. Choose a greenthe color of grass or a rosypink that complements thewalls. If you would prefer

something more neutral, a softgray or nice taupe will notdetract from the room’s overalltheme. Keep in mind that littlegirls tend to be less hard onthings like carpet, so you don’thave to shy away from lightercolors.

Choosing furniture is a mat-ter of taste and price range.Classic white furniture alwayslooks good in a girl’s room,and it will match with anyroom redecorations that aredone in the future. For the girlwho prefers pastels, maple fur-niture with a whitewash finishwill add to the softness of theroom. Try to pick daintypieces that underscore thefragility and beauty of butter-

flies. Don’t go for the heavy,dark cherry stain on her furni-ture. A canopy bed is theheart’s desire for many girls,and there are white metal bedsthat have a butterfly shape inthe head and footboards.Replace the handles and knobsof her furniture with butterflyshaped ones, or dainty porce-lain or brass knobs and pulls.These can be found at anylarger home center store.

A bed in a bag set that coor-dinates the sheets, comforter,canopy cover and curtains willreally pull the room together.If you can’t find a set in thecolors you have chosen, con-sider making them yourself. Agood fabric store will havepatterns and all the necessaryfabric and notions you willneed. If you have questions,the salespeople in fabric storesare usually quite knowledge-able about sewing. It is easierthan you think to sew, and ifyou’ve never done it before,give it a try. You might be sur-prised at the results! Otherwindow treatment choices caninclude a puffy valance withsheer white curtains to flutterin the breeze.

Butterfly furniture & crafts

As Melody Queen LataMangeshkar turned 81,her younger sister Asha

Bhosle got nostalgic on micro-blogging site Twitter.

"My favourite female singer& also my elder sister LataDidi celebrated her birthday.Too bad I'm in Hong Kong &can't attend her birthday, butmy well wishes are alwayswith Lata Didi," wrote Asha.

The versatile singer alsoposted a rare photograph of the4 Mangeshkar sisters.

"On her Birthday, Posting anold and sweet memory of us,"said Asha.

Meanwhile, Lata also posteda rare photo of her as a child onher Twitter account'mangeshkarlata.'

She also thanked all her well-wishers for greeting on herbirthday.

However, Lata reportedly

spent a quiet birthday with herfamily members at her ances-tral home in Kolhapur. A daybefore her birthday, the singertold reporters that she does notlike celebrating her birthday.

"I don't like celebrating mybirthday. It's just another dayfor me. I do my regular Pujaand spend the day with family,"she said.

Lata turns 81

She may have debuted(albeit as a child actor)more than 40 years back

in Dus Lakh (1966) and actedin more than 50 films in next15 odd years. Still, when NeetuSingh faced the camera againthis year for 'Don Doon Chaar',she couldn't escape being nerv-ous.

"Yes, I was indeed nervouswhen I was called for my firstshot in the film," says NeetuSingh who has worked withDon Doon Chaar with hubbyRishi Kapoor (who plays heron screen husband as well inthe film), "I was facing cameraafter more than 25 years andwas conscious on the sets."

As expected, the scene wenton well though as she was quitecomfortable once she had togive her take.

"I was wondering thoughhow I would be able to memo-rise my dialogues and deliverthem well. It was bound to hap-pen though and I settled downafter my initial nervousmoments," says Neetu Singhwho decided to make a come-back on the big screen aftermuch persuasion.

"Except for an odd still-shoothere and there, I hadn't donemuch for the camera over the

years. Yes, there were offers toact all this while but I wasn'ttoo keen. I was happy lookingat my family and home," saysthe lady who still possesses agraceful demeanour to herself,"Now that I have worked inDon Doon Chaar, I can't waitfor it to release. I want to seehow audiences react to me andmy hubby getting together forthe film."

Don Doon Chaar is all set for8th October release, a weekafter Kapoor junior hits thescreen with Anjaana Anjaani.

Neetu Singh back infilm after 25 years

Star Warsmovies start3D rollout

in 2012

George Lucas is set to re-release the six "StarWars" films in 3D,

beginning in 2012 with onefilm annually led by "ThePhantom Menace."

Though the 3D versions havebeen rumored for some time,Lucas was evidently waitinguntil there were enough 3Dscreens available to make therelease a sizable enough event.Fox, which released all six of theoriginal "Star Wars" films, wouldalso release the 3D versions.

"The Phantom Menace,"originally released in 1999,would be first out of star-dockin the early months of 2012.After that, each of the filmswould be released in order atthe same time each consecutiveyear, depending on how wellthe first re-release does. Thatmeans the original "Star Wars"and its sequels won't startrolling out until 2015.

Each conversion takes at leasta year to complete, with Lucaspersonally overseeing theprocess. He has said that"Avatar" convinced him that"Star Wars" was ready for thestate-of-the-art 3D treatment.

Also pushing the timetable isa potential breakthrough in 3Dtelevision technology.

HollywoodIcon: TonyCurtis dies

Tony Curtis, a classicallyhandsome movie starwho earned an Oscar

nomination as an escaped con-vict in Stanley Kramer's 1958movie "The Defiant Ones," butwhose public preferred him incomic roles in films like "SomeLike It Hot" (1959) and "TheGreat Race" (1965), died of acardiac arrest in his Las Vegasarea home. He was 85.

As a performer, Curtis drewfirst and foremost on his star-tlingly good looks.

With his dark, curly hair,worn in a sculptural style laterimitated by Elvis Presley, andplucked eyebrows framing paleblue eyes and wide, full lips,Curtis embodied a new kind offeminized male beauty thatcame into vogue in the early1950s.

MUMBAI: Indian Bollywood personalities Soha Ali Khan and Maria Goretti pose withIndian designer Archana Kochhar during the Indian Princess 2011 contest. -Reuters

What's commonbetween Farah Khan,Vipul Shah and Ekta

Kapoor? Well, it's not difficultto spot the common link. Allthese filmmakers have the'retro-factor' in common.

Farah Khan, who bought the70's back alive with her film'OM SHANTI OM' has givenrise to a new trend. Ever sincethe movie became a huge hit,the retro-bollywood theme isfast becoming a new genre.

The success percentage ofthis retro genre is it's anotherstrong point. The recent suc-cess of Ekta Kapoor's film'ONCE UPON A TIME INMUMBAA'I had added to thedependability of the retro-driv-en films. The film was a run-away success.

Now, another film with retroas its main theme 'ACTIONREPLAY' is getting set forrelease. With Akshay andAishwarya taking the retrobaton forward in this film,what remains to be seen iswhether they manage anotherhit with the same theme.

As one film expert puts it,"Retro theme is the new suc-cess formula that bollywoodhas discovered. Though itmight be paying huge divi-dends to its makers, but it's notan easy genre to dabble withgiven the limitations of its plot-lines and characterizations."

Well, though the retro-filmsmight have limited plotlines,but the success marathon ofsuch films seems unstoppablefor the time being.

Farah, Vipul andEkta's Retro Factor

Titanic StarGloria dies

at 100

Gloria Stuart, the 1930sHollywood leading ladywho years later became

the oldest Academy Award act-ing nominee for her role as thespunky survivor in "Titanic,"has died. She was 100.

Stuart died of respiratory fail-ure at her Los Angeles home,her daughter, SylviaThompson, said Monday. Theactress had been diagnosedwith lung cancer five years agoand had beaten breast cancerabout 20 years ago, Thompsonsaid.

"She did not believe in ill-ness. She paid no attention toit, and it served her well,"Thompson said. "She had agreat life. I'm not sad. I'mhappy for her."

Asha nostalgic ondidi’s birthday

Television show 'KaunBanega Crorepati' isback and how! Firstly,

Amitabh Bachchan, who host-ed the first two seasons of theshow, is back as the host.Secondly, the prize money iswhopping Rs 5 crore! Also,the number of questions hasbeen reduced from 15 to 13.

The show will be launchedon October 11, which alsohappens to be AmitabhBachchan's birthday.'Birthdays come and go. Butto get an opportunity torelease 'Kaun BanegaCrorepati' on my birthdaymakes me feel really proud. Ithank the channel for this andhope the audience will find itexciting too,' said Big B.

A few episodes of the showhave already been recorded. Itcan be recalled that the third

season of the show was hostedby Shahrukh Khan.

So, will we see somethingnew this time in KBC?Amitabh said, "Even thoughthe basic format remainsunchanged, the show will befaster and crispier this time.There will be 12 questions forRs one crore and the last onewould be the jackpot of Rs 5crore."

The actor further added,"Apart from 'Phone a friend'and 'Audience poll' lifelines,two new lifelines- 'Experthelp' and 'Double Dip' havebee added. The '50-50' lifelinehas been removed.'

Sidhharth Basu of BigSynergy said, 'Under a newconcept of 'Ghadiyal babu',the participants would have toanswer the first two questionsin 30 seconds and the next fivein 45 seconds. After the sev-enth question, there will be notime limit.'

You can also expect a lot ofcelebrities on KBC. 'Severalcelebrities would appear onthe show. Instead of a singleparticipant, a team would playthis time around,' said Basu.

Let's wait and watch howthe audiences respond to thisnew KBC.

KBC gets shorter;prize money 5 crore

LONDON: Copper rallied onFriday to its highest in morethan two years as strong manu-facturing data from China, theworld's largest consumer ofindustrial metals, boosteddemand expectations.

Benchmark copper on theLondon Metal Exchange wasuntraded at the close but lastbid at $8,095 a tonne, com-pared with Thursday's last bidat $8,010 a tonne.

The metal used in power andconstruction earlier on Fridaytouched $8,178 a tonne, a gainof about 35 per cent since earlyJune and its highest since July2008.

Friday's gains were triggeredby a survey showing the manu-facturing sector in Chinapicked up steam in Septemberafter a mid-year lull, easingconcerns of a renewed down-turn in global growth.

"The strong PMI data fromChina really did set the tone forthe day, and every since thatcame out, we've continued tosee metals move higher," saidGayle Berry, analyst at

Barclays Capital.Base metals tracked back

later on Friday, after data fromthe United States showed thatgrowth in the manufacturingsector slowed in September,while construction spendingunexpectedly rose in August.

A Reuters survey of metalanalysts carried out in Julyshowed expectations are forthe copper market this year tohave a surplus of 41,000tonnes -- negligible when com-pared with global consumptionestimated at about 19 milliontonnes.

For next year, the consensussees a 180,000 tonne deficit.

Stocks of copper in LMEwarehouses have tumbledmore than 30 per cent to373,800 tonnes since the mid-dle of February.

Aluminium stocks at 4.352

million tonnes are down from arecord 4.640 million tonnes inJanuary. Aluminium closed at$2,360 a tonne from $2,351 atthe close on Thursday.

Earlier, the metal used intransport and packagingtouched $2,387, its highestsince April 20. Helping boostprices are expectations of out-put cuts in China -- the world'slargest producer and consumerof aluminium.

Tin ended at $24,900 a tonnefrom $24,250 on Thursday. Itearlier hit $25,200 a tonne,within touching distance of anall-time high of $25,500 hit inMay 2008.

Stainless steel ingredientnickel closed at $23,800 atonne compared with $23,400on Thursday, zinc ended at$2,229 from $2,195 and lead at$2,295 from $2,279. -Reuters

China data cheerscopper to 2-yr high


POLYPROPYLENE(PP) LINEAR LOW (LL)

Cash & Settlement 1300 1155

October (3rd Wednesday) 1305 1140

November (3rd Wednesday) 1315 1150

LONDON METAL EXCHANGE (PLASTIC)

LME Official Prices, US$ per tonne for September 30 2010

LME Official Prices, US$ per tonne for September 30 2010

ALUMINIUM ALUMINIUM COPPER LEAD NICKEL TIN ZINC NASAAC

ALLOY

Cash buyer 2220 2313 8053 2261 23385 24600 2175.5 2240

Cash seller 2230 2314 8053.5 2262 23390 24650 2176 2241

3-months buyer 2200 2347.5 8050 2285 23300 24475 2200.5 2265

3-months seller 2210 2348 8055 2290 23325 24525 2201 2275

15-months buyer 2140 2418 7970 2297 22650 23825 2255 2270

15-months seller 2150 2423 7980 2302 22750 23875 2260 2280

27-months buyer 2140 2480 7715 2275 21700 2250 2320

27-months seller 2150 2485 7725 2280 21800 2255 2330

LONDON METAL EXCHANGE (METALS)

LONDON: Gold hit recordhighs for a sixth successivesession on Friday as the dollarfell to a six-month low againstthe euro, with expectations forfurther US monetary easingdriving strong demand for theprecious metal.

Its strength lifted other pre-cious metals, with silver risingto its highest since1980 and plat-inum a four-month peak.

Spot goldtouched a high of$1,320.80 andwas bid at$1,318.55 anounce at 1451 GMT, against$1,305.25 late in New York onThursday. US gold futures forDecember delivery rose $10.20to $1,319.80.

Gold looks resilient afterending September with itseighth consecutive quarterlygain, analysts say, having risen6 per cent in the third quarter.

"Gold seems to be followingthe weak dollar," said AfshinNabavi, head of trading atMKS Finance. "These levelsare really uncharted territory,

but should the dollar weaknesscontinues, it looks like $1,325may be the next resistance."

On the physical side of themarket, a Singapore-basedtrader reported firm golddemand from Thailand andIndia, where buyers appear tobe becoming acclimatised torecord-high prices.

Holdings of the world'slargest gold-backed exchange-traded fund, New York's SPDRGold Trust, dipped however byjust under 1 tonne to 1,304.776tonnes.

Silver hit a 30-year high at$22.13 and was later at $22.10an ounce against $21.70. Themetal has outperformed goldthis year, rising 30 per centagainst gold's 20 per centclimb.

However, UBS analyst EdelTully said in a note that silver

may be more vulnerable to anear-term correction than gold.

"Much of silver's move hav-ing been technically driven, thegold/silver ratio this weekpulling back below 60 for thefirst time since October lastyear may convince many buy-ers to take profit," she said.

"A pullback would be partic-ularly unsur-p r i s i n gbecause silveris notoriouslyvolatile, itsprice regres-sions typicallybeing a lotmore violent

than gold's.""On the other hand, mount-

ing QE expectations ahead ofthe Nov. 3 FOMC meetingshould support gold, whichwill also help silver," sheadded. "And silver has alsoseen decent industrial demandas well as investor buying."

Gold's strength lifted platinumto a 4-1/2 peak at $1,684.50. Itwas later at $1,680.50 an ounceagainst $1,651.15, while palla-dium was at $575 against$563.93. -Reuters

Gold at record for sixthday; US policy in focus

Europeanvegetableoil prices

ROTTERDAM: The follow-ing were the Friday'sRotterdam vegetable oil price'sat 21:00 PST.

SOYOIL: EU degummedeuro tonne fob exmillNov10/Jan11 801.00+4.00,Feb11/Apr11 806.00+4.00.

RAPEOIL: Dutch/EU eurotonne fob exmill Nov10/Jan11782.00+2.00, Feb11/Apr11790.00+3.00, May11/Jul11795.00+0.00, Aug11/Oct11785.00.

SUNOIL: EU dlrs tonneextank six ports optionNov10/Dec10 1180.00-5.00,Jan11/Mar11 1175.00-5.00,Apr11/Jun11 1170.00-5.00.

LINOIL: Any origin dlrstonne extank RotterdamOct10/Nov10 1342.50+17.50.

CRUDE PALM OIL:Sumatra/Malaysia slrs optiondlrs tonne cif R'dam Sep10935.00+0.00, Oct10935.00+2.50, Nov10/Dec10927.50-2.50, Jan11/Mar11922.50-5.00.

PALMOIL: RBD dlrs tonnecif Rotterdam Nov10/Dec10962.50.

PALMOIL: RBD dlrs tonnefob Malaysia Nov10/Dec10915.00+2.50.

PALM OLEIN: RBD dlrstonne fob MalaysiaNov10/Dec10 925.00+2.50,Jan11/Mar11 920.00+2.50,Apr11/Jun11 922.50+0.00.

PALM STEARIN: Dlrs tonnefob Malaysia Oct10 905.00,Nov10 900.00+0.00.

COCONUT OIL: Phil/Indondlrs tonne cif RotterdamOct10/Nov10 1370.00-10.00,Nov10/Dec10 1370.00-10.00,Dec10/Jan11 1370.00-10.00.

CASTOROIL: Any origindlrs tonne extank RotterdamOct10/Nov10 2025.00+0.00. -Reuters

National Commodity Exchange Ltd Trading SummaryDate Commodity Contract Price Open High Low Close Traded Volume Previous Current Open Interest

Date Quotation in lots Settlement Settlement in Lots

Price Price

01-Oct-2010 CRUDE100 NO10 US$ Per Barrel 79.10 81.37 78.50 81.37 273 80.34 81.37 99

01-Oct-2010 CRUDE100 DE10 US$ Per Barrel 80.21 82.35 79.55 82.35 67 81.30 82.35 54

01-Oct-2010 CRUDE100 JA11 US$ Per Barrel 81.23 83.20 81.23 83.20 - 82.15 83.20 -

01-Oct-2010 SILVER - SL500 NO10 US$ Per Troy Ounce 22.07 22.07 21.97 21.97 - 21.84 21.97 -

01-Oct-2010 SILVER - SL500 DE10 US$ Per Troy Ounce 21.99 22.08 21.64 21.99 34 21.85 21.99 23

01-Oct-2010 GOLD 01oz NO10 US$ Per Troy Ounce 1316.00 1318.00 1297.00 1317.50 1,603 1311.10 1317.50 1,465

01-Oct-2010 GOLD 01oz DE10 US$ Per Troy Ounce 1316.00 1319.00 1297.10 1318.30 2,434 1311.90 1318.30 1,155

01-Oct-2010 GOLD 01oz JA11 US$ Per Troy Ounce 1317.40 1320.00 1298.00 1319.20 522 1312.70 1319.20 102

01-Oct-2010 GOLD 100oz NO10 US$ Per Troy Ounce 1316.20 1317.50 1316.20 1317.50 - 1311.10 1317.50 -

01-Oct-2010 GOLD 100oz DE10 US$ Per Troy Ounce 1316.60 1318.30 1298.70 1318.30 84 1311.90 1318.30 5

01-Oct-2010 GOLD 100oz JA11 US$ Per Troy Ounce 1317.70 1318.30 1317.70 1318.30 - 1312.70 1319.20 5

01-Oct-2010 GOLD OC10 Per 10 grms 36332.00 36676.00 36100.00 36676.00 37 36466.00 36676.00 55

01-Oct-2010 GOLD NO10 Per 10 grms 36617.00 36685.00 36617.00 36685.00 - 36475.00 36685.00 -

01-Oct-2010 GOLD DE10 Per 10 grms 36631.00 36699.00 36631.00 36699.00 - 36489.00 36699.00 -

01-Oct-2010 Kilo GOLD OC10 Per 10 grms 36600.00 36648.00 36580.00 36648.00 1 36438.00 36648.00 2

01-Oct-2010 Tola Gold50 OC10 Per Tola 42666.00 42745.00 42666.00 42745.00 - 42501.00 42745.00 -

01-Oct-2010 Tola Gold100 OC10 Per Tola 42666.00 42745.00 42666.00 42745.00 - 42501.00 42745.00 -

01-Oct-2010 Mini Gold 1-Aug Per 10 grms 37640.00 37697.00 37640.00 37697.00 - 37484.00 37697.00 -





01-Oct-2010 TT Gold 1-Sep Per Tola 43232.00 43298.00 43232.00 43298.00 - 43050.00 43298.00 1

01-Oct-2010 IRRI6W 07OC10 Per 100 kg 2402.00 2402.00 3175.00 3206.00 - 3175.00 3206.00 -

01-Oct-2010 Rice IRRI - 6 OC10 Per 100 kg 3192.00 3215.00 3192.00 3215.00 - 3192.00 3215.00 -

01-Oct-2010 RBD Palm Olein OC10 Per Maund 4182.00 4190.00 4182.00 4190.00 - 4182.00 4190.00 -

01-Oct-2010 KIBOR3M 10-Dec Per Rs. 100 86.54 86.61 86.54 86.61 - 86.54 86.61 -

01-Oct-2010 KIBOR3M 11-Mar Per Rs. 100 86.15 86.15 85.60 85.60 - 85.62 85.60 -

Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day

Tokyo rubber

hits 5-mth high

on firm oilTOKYO: Key Tokyo rubberfutures rose to five-monthhighs on Friday, supported by afirm oil market that under-scored optimism about globaleconomic recovery, while sup-ply tightness also helpedimprove investor sentiment.

The key Tokyo CommodityExchange rubber contract forMarch delivery rose 4.4 yen or1.4 per cent to settle at 315.8yen per kg, posting a weeklygain of about 2 per cent.

The contract earlier rose ashigh as 317.3 yen, the highest forany benchmark since April 26.

Thailand, the world's biggestrubber exporter, implemented anew rubber export tax fromFriday. At the current domesticprice of around 100 baht per kg,exporters would pay 3 baht perkg in tax, up from 1.4 baht now.Many exporters may simply raiseoffer prices to offset the tax.

Tokyo rubber futures areexpected to stay relatively firmabove 300 yen in October andmove higher in November oncontinuing strong demand andlimited supply, a Reuters pollshowed. Japan's crude rubberinventories totalled 7,282 tonnesas of Sept. 20, jumping 26 percent from 10 days earlier, RubberTrade Association of Japan datashowed on Friday. -Reuters

HAVANA - CUBA: People buy vegetables at a private farmers' market in Havana. -Reuters

NEW YORK: Cotton futuresended higher on Thursday inheavy trading and finished thequarter up 33 per cent, its bestquarterly performance since1994.

Cotton rebounded fromWednesday's limit-down moveon buying by mill andinvestment funds, withbusiness seen turningquiet due to a long hol-iday in top consumerChina, analysts said.

Cotton has rallied nearly 50per cent since late July and hita 15-year high, fueled byrobust demand, tight stocksand buying from investment,hedge and long-only funds thatfelt the market was underval-ued.

ICE Futures US keyDecember cotton contract rose0.68 cent to finish at $1.0192per lb. The contract tradedfrom 99.29 cents to $1.0353 --the eighth time in nine sessionscotton breached the psycho-logical $1-a-lb level.

The market was buoyed inpart by US AgricultureDepartment's weekly export

sales report on Thursday.Total US cotton sales

reached 576,600 running bales(RBs, 500-lbs each), from571,700 RBs in last week'sdata and trade belief it wouldrange from 250,000 to 400,000RBs.

The market took particularnote of a survey by ThomsonReuters of Chinese analyststhat the country's cotton end-ing stocks for 2010/11 werearound 2.0 million tonnes,much lower than the USDAestimate of 3.49 milliontonnes.

Analysts said the marketmay drift through the end ofthe week because several play-ers will be going to Liverpoolto attend an industry confer-ence.

More importantly, players inNo. 1 cotton producer and con-sumer China will be on holi-day from Oct. 1-7. -Reuters

NY cotton ends firm,3rd qtr up 33pc

NEW YORK: Oil rose onFriday for a third straight daydue to the slumping dollar andstrong Chinese economic data.

A report showing the pace ofgrowth in the US manufactur-ing sector slowed in Septemberpulled crude off an early seven-week highs over $81 a barrel,however, and weighed on WallStreet and the S&P 500 Index.

US crude for Novemberdelivery rose $1.33, or 1.6 percent, to $81.30 per barrel by1722 GMT. It traded from$79.70 to $81.52, its highestsince $81.62 was struck onAug. 10.

ICE Brent November cruderose $1.16, or 1.4 per cent, to$83.47 a barrel.

Early on Friday, data show-ing revived growth in China'smanufacturing sector lifted oilprices. China's official pur-chasing managers' index roseto 53.8 in September from 51.7in August, well above themedian forecast of 52.0 in aReuters poll of economists.

Further support came as astrike at France's top oil portthat has squeezed supplies torefineries entered a fifth day on

Friday, with unions aiming toescalate protests with a call fora national stoppage at allFrench ports.

Crude later pared gain afterthe Institute for SupplyManagement said on Fridaythat its index of US factoryactivity fell to 54.4 last monthfrom 56.3 in August.

"The stock market, the S&P

(500), turned lower on the ISMmanufacturing data and thatpulled crude back," saidRichard Ilczyszyn, senior mar-ket strategist at Lind-Waldockin Chicago.

The dollar hit a six-monthlow versus the euro and thedollar index fell to an eight-month low after the New YorkFederal Reserve's presidentsaid US growth has been gen-erally disappointing. His com-ment was seen as strengtheningthe case for pumping moremoney into the financial sys-tem, which could encourageinvestment in commodities.

"The main driver has beenthe euro with a lot of bullishnews back behind it," RobMontefusco, a trader at SucdenFinancial, said. -Reuters

Oil jumps to $81;China data, $ support

JAKARTA: Malaysian palm oilended up marginally on Fridayon gains in crude oil, but the lackof fresh supply-demand data anda holiday in China meant gainswere limited.

Benchmark December palmoil on the Bursa MalaysiaDerivatives Exchange closedup 0.11 per cent at 2,733 ring-git ($886) per tonne. Tradingvolume was 12,137 lots of 25tonnes each, above the usual10,000 lots.

Palm oil booked its firstquarterly gain this year onThursday as traders bet onstrong demand despite news ofChina getting ready to sell statereserves and higher yields fromthe incoming US soy crop.

China markets were closedfor a national holiday starting

on Friday and lasting until Oct8. As a result, palm oil is likelyto trade in a narrow range of2,700-2,750 ringgit in the nextfew days, especially withoutany fresh supply-demand datato spur trading, one trader said.

US October soyoil inched up0.07 per cent.

Cargo surveyors reported onThursday that Malaysia'sSeptember palm oil exportssurged, boosted by China's pur-chases.

Indonesia's palm oil exportsin August rose 6.2 per centfrom a year ago on strongdemand from its traditionalbuyers, India, China, andEurope, data from theIndonesian Palm OilProducers' Association showedon Friday. -Reuters

Palm oil inches up,China demand eyed

Raw sugarconsolidatesafter sell-off,arabicas flat

LONDON: ICE raw sugarfutures consolidated on Fridayfollowing a 5.7 per cent sell-offthe previous day, wheninvestors closed positions fol-lowing a sharp, supply-drivenrally through the third quarter.

Raw sugar ended the thirdquarter up 46 per cent as one ofthe top performing commodi-ties, but dealers said the marketcould be volatile over the com-ing months as consumers buyon a hand-to-mouth basis.

"Physical buyers will hold offwhen prices rise, and whenthey fall the buyers will comeback," said Gary Mead, an ana-lyst at VM Group.

"I don't think we've seen thephysical buying that's neces-sary ... yet, so I would beinclined to forecast higherprices," Mead added.

ICE March raw sugar futureswere up 0.04 cent or 0.2 percent at 23.52 cents a lb at 1446GMT. London December whitesugar was up $2.00 or 0.3 percent at $619.00 per tonne.

Thomas Kujawa of SucdenFinancial Sugar said, "If we geta close below 22.50 tonight,then the bears will be lookingfor a test of the support at 21cents." He added, "With oil sostrong and the dollar weaken-ing further, it would seem sugarwill hold rather than continuethe collapse, and we wouldexpect the support to holdabove 22.50 cents."

ICE Futures US said onFriday a total of 13,055 lotswere delivered when theOctober raw sugar contractexpired on Thursday. The totalamounted to 663,225 tonnes.

ICE cocoa traded lower, andLiffe cocoa also eased underpressure from a strong poundagainst the dollar. ICE Decembercocoa traded down $16 or 0.6 percent at $2,798 per tonne. LiffeMarch cocoa traded down 22pounds or 1.1 per cent at 1,907pounds a tonne.

Coffee markets were steadyon Friday as rainfall in Brazileased concerns that the flower-ing phase of the crop could behindered by dry weather.

ICE March arabica coffeefutures were down 0.05 centsor 0.03 per cent at $1.8450 a lb.Liffe November robusta coffeewas up $3 or 0.2 per cent at$1,725 per tonne in modestturnover of 2,536 lots. -Reuters

Indian sugar

down on weak

global cuesMUMBAI: India's spot sugarprice fell on Friday trackinglosses in overseas markets andas demand was subdued frombulk consumers, dealers said.

New York raw sugar futuresfell in early trade on Friday,extending Thursday's 5.7 percent loss as investors closedtheir positions following asharp rally through the thirdquarter driven by tight globalsupplies.

"Demand was weak fromcold drink makers. Usuallythey increase buying duringlast week of September andfirst week of October," said adealer based in Vashi spot mar-ket near Mumbai.

Temperature usually rises inIndia during October, boostingsales of cool-drink makers, butthis year temperature was like-ly to remain low due to a delayin withdrawal of June-Septmonsoon rains, he said.

In Kolhapur, a key market intop producing Maharashtra state,the most traded S-variety fell0.74 per cent to 2,550 rupees($57.3) per 100 kg. -Reuters

NY cotton at mid-dayICE Futures US benchmark December cotton

contract lost 1.92 cent to $1.00 per lb. The con-tract set a range from 99.78 cents to $1.0278 perlb. Volume traded in December cotton futurescame to 5,704 lots at 1436 GMT.

Dollar seen falling further after worst quarter since 2002


Mohammad Asif sits with his bride SanaHilal at their wedding ceremony in Lahore

Messireceives

Golden Boot BARCELONA: Barcelona starLionel Messi received theGolden Boot award as last sea-son's top scorer in Europe'sdomestic leagues at a ceremonyhere.

The 23-year-old Argentinastriker's 34 La Liga goals madehim a clear winner yesterdayahead of Chelsea's DidierDrogba and Udinese's AntonioDi Natale, who both achieved29. Messi is the second playerto win the Golden Boot whileplaying for Barcelona afterBrazil's Ronaldo in 1996-97.

He joins Marco van Basten,Ronaldo and Cristiano Ronaldoas the only players to win thethree major awards - theGolden Boot, FIFA Player ofthe Year and the Golden Ball,awarded to Europe's top play-er.-Online

WALES: Europe had estab-lished early control in Fridaymorning's opening fourballmatches at the Ryder Cupwhen play was suspended dueto unplayable conditions at awaterlogged Celtic ManorResort.

With heavier rain expectedto sweep across the TwentyTen course later in the day,there was little chance of theafternoon's foursomes matchesbeing completed.

Europe led holders theUnited States in three of thefour encounters out on thecourse when play was haltedwith large pools of water form-ing on the fairways and greens.

It was the first suspension ofplay at the Ryder Cup since

the 1997 edition atValderrama, Spain.

"He (rules official JohnParamor) gave us the option tosuspend play," European cap-tain Colin Montgomerie toldBBC radio. "It's very unfortu-nate.

"That puts us in a horribleposition of not being able tocomplete today's matches buthopefully we can make up thetime. It's been a super start forEurope and I just hope we canmaintain this momentumwhen the weather breaks."

The pace of play wastediously slow as the green-keeping staff struggled tosqueegee every green beforethe players putted out.

World number three Lee

Westwood and US PGA cham-pion Martin Kaymer were twoup on Phil Mickelson andDustin Johnson in the topmatch after five holes.

Northern Irishmen RoryMcIlroy and GraemeMcDowell were one up onStewart Cink and Matt Kucharafter four while Tiger Woodsand Steve Stricker trailed IanPoulter and Ross Fisher byone hole after three.

In the bottom match, USrookies Jeff Overton andBubba Watson were two up onLuke Donald and IrishmanPadraig Harrington after twoholes.

HUGE GALLERIESThe 38th Ryder Cup began

in pouring rain and driving

wind with huge galleriespacked around the first teechanting their support for bothteams.

Westwood recorded the firstbirdie of the session when heknocked in a six-footer at thepar-five second to put theEuropeans one up. Mickelsonand Johnson each thenbogeyed the par-four fourth.

In the second match,McDowell won the openinghole for Europe with a two-puttpar before 2009 British Openchampion Cink rolled in a 40-foot birdie effort at the third.

However, the Europeansregained a one-up advantagewhen the Americans failed topar the fourth.-Reuters

Rain suspend day’s play

I S L A M A B A D :

Commonwealth Games chiefMike Fennell has criticisedDelhi's organisers for failing toheed warnings over preparationsfor the 2010 event.

The Games, which open onSunday, have been hit by athletewithdrawals and criticism of theathletes' village.

"People are working hard andwant to do well but sometimesthe co-ordination and intentionto follow through is not alwaysgood," Fennell told BBC.

"You can only do so much, youhave to rely on them to followyour advice," said Fennell, who

is reported to have warned thatIndia's preparations were behindschedule in a letter to the localorganising committee last month.

However, Fennell wasadamant the CFG had to allowlocal officials freedom to deliverthe event in their own way.

"You entrust the organisationto an organising committee andthat organising committee has toget on with the job," he said.

"You cannot sit on top ofthem every day. You have toapplaud their efforts but themanagement and systematicfollow through was just notthere", he added. -APP

CWG chief slamsDelhi organisers

LAHORE: Pakistan FootballFederation (PFF) has calledDenmark-based brothers,Yousuf Butt and Yaqoob Buttfor the build up for theNational U23 team to appear insoccer event of XVI AsianGames to be held underOlympic Council of Asia(OCA) from November 12-27at Chinese city Guangzhou.

The camp is in progress atLahore's Punjab Stadium andModel Town FootballAcademy Ground.

Yousuf used to play as goal-keeper in Danish 1st Divisionfor the Copenhagen's HellerupIdræts Klub (HIK). His elderbrother, Yaqoob currently plays

for the Jaegersborg BK club asdefender.It is first-time calls-upfor Shani Qayum (SheffieldWednesday Youth) while FraazAhmed (Nottingham) attendedthe two-day Rotherham tryoutsfor selecting budding footballplayers of Pakistan originwhich were in 2007 at SouthYorkshire. He find spot insquad, alongwith other foreign-ers Zesh Rehman, AdnanFarooq Ahmed, Amjad Iqbal,Iltaf Ahmed, Adam LukeKarim, Fouzal Azeem Bashir,Assad Ahmad, SuffeanMahmood, announced for two-legged World Cup Qualifiersagainst Iraq but failed to enterturf of Punjab Stadium.-APP

PFF calls Denmarkbased playerss

MOHALI: Australian openerShane Watson hit an unbeatencentury but Indian pacerZaheer Khan struck in thefinal session to halt the visi-tors' progress on a see-sawopening day of the first test onFriday.

Watson thrived on the slop-py Indian fielders' largesse toremain unbeaten on 101, hav-ing starred in a 141-run sec-ond wicket stand with skipperRicky Ponting (71) -- the cor-nerstone of Australia's open-ing day score of 224 for five.

Zaheer, who drew first bloodin the morning, trappingSimon Katich (6), returned inthe post-tea session to removeMike Hussey (17) and MarcusNorth (0) in successive overs,reversing some of Australia'sdominance earlier in the day.

Tim Paine (1) was with

Watson at stumps."I knew the first few hours

would be crucial," Watsonsaid after the match. "For me,it was easier to score off thenew ball than the reverse-swinging or the turning one.Hopefully I can continue ...tomorrow."

"The Indian bowlers bowledbeautifully with the softer balland the spinners did not givemuch to hit." On a placid trackat the Punjab CricketAssociation stadium offeringno real bounce, Watson andPonting compiled a big sec-ond-wicket partnership todominate the morning session.

Both scored freely evenafter lunch until Suresh Rainaran out Ponting with a directthrow from mid-wicket.

The dismissal was followedby an apparent verbal clash

between Zaheer and thedeparting Ponting who turnedback to exchange wordsbefore heading to the pavilion.

The Australian captain, whohit 10 boundaries in his fluentinnings, was soon joined inthe pavilion by MichaelClarke, who was caught byRahul Dravid for 14 off thebowling of spinner HarbhajanSingh shortly before tea.

Watson, however, reachedhis second test century cour-tesy of some solid hitting andIndia's poor fielding.

Virender Sehwag dropped ascoreless Watson in the firstover off Zaheer and the aggres-sive opener got another reprieveon 37 when he edged a PragyanOjha delivery that popped outof Indian captain MahendraSingh Dhoni's gloves behindthe stumps.-Reuters

Watson, Zaheershine at Mohali

* Watson scores 2nd test century* Zaheer strikes in final session* Watson says enjoyed opener’s role

TOKYO: Top seed CarolineWozniacki outmuscledVictoria Azarenka of Belarus6-2 6-7 6-4 to reach the finalof the Pan Pacific Open onFriday.

Russia's former championElena Dementieva defeatedthis year's French Open win-ner Francesca Schiavone 6-47-5 of Italy in the othersemi-final.

Dane Wozniacki overcameAzarenka's loud grunting,tantrums and occasionalflashes of brilliance toadvance to the final of the $2million tournament inTokyo.

"After the first set the sec-ond was really tight," saidWozniacki, who is closing inon the world number oneranking.

"At 5-love I felt reallygood," added Wozniacki,

who squandered a big lead inthe final set before closingthe match out in two hoursand 51 minutes.

"I thought the match wasmine. Then Victoria startedplaying well and all of a sud-den the score is 5-4 and Iknew I had to close it outwith my serve."

Wozniacki stormedthrough the first set but waspegged back after an error-strewn second in which bothplayers struggled to holdserve.

Normal service wasresumed in the decider withWozniacki pinning Azarenkaback with some ferociousdeep hitting before bringingup three match points.

The Dane was held upbriefly after a successfulline-call challenge fromAzarenka on the first but

clinically brought proceed-ings to a close with an acethe middle.

Wozniacki can overtakeSerena Williams at the top ofthe world rankings by win-ning in Tokyo this week andfollowing that with a quar-ter-final finish in Beijingnext week.

"Caroline is very motivat-ed as she wants to reach thenumber one position by theend of the year," saidDementieva, who win inTokyo four years ago.

"She's a very consistentplayer and has a very power-ful baseline game. I have tobe aggressive and really willhave to go for the winners.

"There are no mistakes Ican expect from her becauseshe is playing at the top leveland having a great season."-Reuters

Wozniacki to clashwith Dementieva

* Dane closing in on top ranking

* Dementieva beats Schiavone

Pan Pacific Open Final

Only umpirescan judgebad light

LONDON: Umpires will nowbe the sole judges of whetherthe light is fit to allow play inone of eight amendments to therules of cricket which willcome into effect on Friday.

Under the previous regula-tions the two umpires wouldask the batsmen if they wishedto continue when the light dete-riorated.

The amendment is aimed atreducing the amount of losttime as batsmen usually accept-ed the option to leave the field.

"The batting side will nolonger have any say in the deci-sion, which was often made fortactical reasons," a statementfrom the Marylebone CricketClub, which is responsible forthe rules, said on Thursday.-Reuters

Lorenzo setfor MotoGP

title raceMOTEGI: Spain's DaniPedrosa broke his collarboneafter crashing his Honda inFriday's practice for the week-end's Japanese Grand Prix.

His injury looks like effec-tively handing countrymanJorge Lorenzo the MotoGP titlewith Pedrosa the only man in aposition to overtake theYamaha rider in the standings.

Pedrosa, who trails Lorenzoby 56 points with five racesremaining this season, suffereda multiple fracture of his leftcollarbone after just six min-utes on the track at Motegi.

He is likely to miss the nextthree races which take placeover the next three weekends.

Italian Valentino Rossi set thequickest lap in the first freepractice for Sunday's race.-Reuters

Europe seize early control of Ryder Cup

WALES: Greenkeepers clear water off the fairway as US Ryder Cup player Tiger Woods walksoff the course on the first day of the 2010 Ryder Cup at Celtic Manor in Newport.-Reuters

MOHALI: Australia's Shane Watson celebrates scoring 100 runs during the first day oftheir first test cricket match against India.-Reuters

Rehan Buttvows better

show atC’wealth

ISLAMABAD: Pakistan hock-ey star Rehan Butt admits thatmemories of World Cup debaclehaunt his side but insists thatthese can be erased by puttingup a good show in theCommonwealth Games.

"Yes, we will be conscious ofthe fact that we fared so poorlyhere. The controversy that fol-lowed is a thing of the past andwe have moved on. But the onlyway we can completely erasethat frightful memory is by put-ting up a good performance inthe Commonwealth Games,"website sify.com quoted him, assaying.

Pakistan finished last in theFIH World Cup that held in NewDelhi in February-March thisyear. In opener of the quadrenni-al spectacle they were outplayedby India 4-1 on February 28.

"We told everyone then thatwe were not such a bad team.We cannot finish last and westill believe that. We have toprove it here,' said the star for-ward."

"As an experienced pro, ourjob is to make the youngstersfeel at ease and soak the pres-sure of big matches," he added.

Butt said the team hadimproved a lot under the newcoach but the Oct 3-14Commonwealth Games wouldbe the real test.

"We performed well in ourEuropean tour. We beat Holland.It has given us a lot of confi-dence.-APP


International & Continuation

LONDON: The euro zone'smanufacturing sector grew at aslightly faster pace inSeptember than previouslythought but some countriesshifted into reverse gear, fur-ther entrenching a two-speedrecovery, a key survey showed.

Markit's EurozoneManufacturing PurchasingManagers' Index for Septemberdropped to 53.7 from 55.1 inAugust, slightly above an earli-er flash reading of 53.6.

While that was the lowestsince January, it marked a yearof readings above the 50.0mark that divides growth fromcontraction.

The output index sank to itslowest reading in nearly a year,to 54.0 last month from 57.1 inAugust, and also revised downfrom a flash reading of 54.4,

suggesting manufacturinggrowth in the euro area is gear-ing down.

"The speed of the decline andthe fact that Ireland, Spain andGreece are all now moving inreverse gear, is worrying," saidChris Williamson, chief econo-mist at Markit, which sponsorsthe surveys.

Ireland said on Friday it waspumping billions more euros intobanks while ratings agency cutSpain's top-notch triple-A ratingto Aa1, citing the budget impactof slowing economic growth,and following similar moves byStandard & Poor's and Fitch.

However, Williamson notedthat a cooling from Germany'sexport-driven factory boom,which was the main driver ofthe decline in the PMI, waswidely anticipated.-Reuters

Europe PMIssuggest double

recovery

LONDON: The pace of glob-al manufacturing growthslipped in September to a 14-month low as the expansion oforder books and exportseased, a survey showed onFriday.

The JPMorgan GlobalManufacturing PMI, whichmeasures activity of factoriesacross the world's majorindustrial centres, fell inSeptember to 52.5 from 53.7in August, although stillabove the 50 mark thatdivides growth from contrac-tion.

While Chinese manufactur-ing picked up steam, the sur-vey identified weakeninggrowth in the United States

and euro zone."The PMI is likely to fall

further in coming months,based on the continued slidein the ratio of new orders toinventory," said DavidHensley of JPMorgan.

"As a result, production islikely to stop growing or evencontract in the next fewmonths on a transitory basis."

The new orders index easedin September to 51.4 from52.4 in August, while newexport orders rose at theweakest pace since July 2009.

A survey released earlier onFriday showed US manufac-turing growth slowing inSeptember, marked by slowerexpansion of jobs.-Reuters

Global millsoutput growthslows in Sept

LONDON: Chinese manufac-turing picked up steam inSeptember after a mid-year lull,easing worries of a markeddownturn in global growth,although business surveys againshowed a cooling recovery inEuropean factories.

Global stock markets perkedup on Friday after two separatepurchasing managers' indexes(PMIs) showed Chinese facto-ries expanded robustly, shrug-ging off European numbers thatrevealed Spain and Ireland far-ing badly.

The Euro Zone ManufacturingPMI suggested a two-speedrecovery taking hold in Europe,with the headline index dropping

to 53.7 in September from 55.1in August, still well above the 50mark that divides growth fromcontraction.

"Growth is becoming morefocused on the two largesteconomies of Germany andFrance as fiscal consolidationmeasures begin to bite in theperiphery," said AndrewGrantham at HSBC.

Factories in austerity-riddenIreland and Spain went intoreverse gear. Ireland onThursday revealed an enormousbill for its banking sector bailout,and Spain lost its last top-notch"AAA" credit rating amid 20 percent unemployment.

Manufacturing growth in

Britain, meanwhile, fell to itslowest since November asexports declined for the firsttime since July 2009, with thePMI there unexpectedly fallingto 53.4 from 53.7.

Although the PMI surveys,which are considered a goodleading indicator of broader eco-nomic activity, also showeddeclines in South Korea andAustralia, the strength of theupturn in China cheered analystsand markets.

They will be looking to the USInstitute for SupplyManagement survey data due at1400 GMT for further signs thatthe recent slowdown will beslight and not severe.-Reuters

China factoriesoffset Europe

slowdown worries

NEW YORK: US consumersentiment improved morethan expected in September,but was still stuck at its weak-est level in more than a yeardue to economic worriesamong upper-income fami-lies, a survey released onFriday showed.

The Thomson ReutersUniversity of Michigan'sfinal September reading onthe overall index on con-sumer sentiment stood at68.2, up from a preliminaryfigure of 66.6 but down from68.9 in August.

Analysts had predicted amonth-end figure of 67.0.

"The entire late Septembergain, however, was amonghouseholds with incomesunder $75,000 while upperincome households reportedmuch less favorable econom-ic prospects," the survey'sdirector Richard Curtin said

in a statement. Curtin said the divergence

between the two incomegroups was partly caused byworries over a protracteddelay to an extension of fed-eral tax cuts to families withincomes above $250,000.

"It is hardly a surprise thatpotential reductions in after-tax incomes a few monthsfrom now will influence peo-ple's current spending deci-sions," he said.

This outlook of lowerincomes reduced consumerone-year inflation expecta-tions to their lowest in a year.This could be worrisome forthe Federal Reserve that isattempting to combat disin-flationary pressure and toavert deflation.

The survey's one-year infla-tion gauge fell to 2.2 per centin September from 2.7 percent in August, while its five-

to-10-year inflation barome-ter ended at 2.7 per cent ver-sus 2.8 per cent in August.

The survey's barometer ofcurrent economic conditionswas 79.6 in September, upfrom 78.4 in in the prelimi-nary September report and78.3 in August. It came inabove a forecast of 78.9.

The survey's gauge of con-sumer expectations rose to60.9 from 59.1 in the prelimi-nary September data andabove a forecast of 60.0.Despite the bounce, it wasbelow August's 62.9 and wasstill the lowest reading sinceMarch 2009.

The measure on con-sumers' 12-month economicoutlook improved to 61 fromto 59 in the preliminarySeptember data. It was at thelowest since April 2009 andwas down 8 points fromAugust.-Reuters

US consumer moodimproves a tad

CONTINUATIONdistribution network across Kazakhstan and Uzbekistan.

Sensitive gear like ammunition, weapons and critical equipment isflown in. Officials say supplies for Nato forces through Chamancontinue uninterrupted. Pakistan has again come under the inter-national spotlight after Western intelligence sources said a mili-tant plot to stage coordinated attacks in Europe had been disrupt-ed by a recent upsurge in missile strikes by US drones in Pakistan.

Pakistani security officials said they had no evidence of any spe-cific terror plot being hatched in the country's tribal areas,described as global hub of militants by the United States. Most ofthe recent drones strikes have taken place in the northwesternNorth Waziristan region.

"It's no secret that there are terrorists from all nationalities inNorth Waziristan. They are Arabs, Uzbeks, Pakistani, Afghan,Chechans, German, Brits, Americans, everyone. And they arethreat to us, to their own countries and to the entire world," a sen-ior security official said. "But to say that we have any specificinformation that they were plotting attacks against this country orthat country, then sir, we don't have any concrete information orintelligence about that." -Reuters

Continued from page 12No #1

White House made an offer of incentives to Israel as describedin the media but these were rejected by Netanyahu."

Israel's Yedioth Ahronoth daily said Obama never signed off onthe offer. The security proposals were floated in a paper drawn uplast week by Israeli Defense Minister Ehud Barak and WhiteHouse Middle East aide Dennis Ross, it said. It would havebecome a "presidential letter" had Netanyahu accepted.

Obama succeeded in persuading Abbas to resume direct peacetalks with Israel on September 2 after a 20-month hiatus but withno overt guarantee from Netanyahu that the settlement freeze heordered last November would be extended. Some Israeli politicalcommentators expressed surprise the proposals had been rejected.But they said Netanyahu was afraid of losing power if he got toofar out in front of his own governing coalition, which is dominat-ed by pro-settler parties skeptical of peace deals, including hisown right-wing Likud.

Close to half a million Jews live on territory where the Palestiniansaim to establish a state with East Jerusalem as its capital. Palestinianssay the growth of the settlements, on land Israel has occupied since1967, will render impossible the establishment of a Palestinian statein the West Bank and Gaza Strip -- the stated goal of the peace talks.Netanyahu and Abbas both say direct talks should continue.

"We are exerting every possible effort in order to ensure that thesenator succeeds in his mission in maintaining the direct negotia-tions," Palestinian chief negotiator Saeb Erekat told reporters inRamallah on Thursday. Abbas has said he will hold off on a decisionon the fate of the talks until the Arab League can discuss the issue ata meeting in Cairo next week and reach a consensus. The meeting ofthe League's committee on the peace process had been scheduled forMonday October 4 but Egypt -- a close US ally -- has asked its part-ners to postpone the discussion until a meeting on October 8, givingMitchell more time to bridge the negotiating gap. -Reuters


with a lot depending on new crop grain plantings in Russia andother major producing countries. -Reuters


Irish economyslips further

ahead ofharsh cuts

DUBLIN: Ireland's brief eco-nomic upturn showed furthersigns of petering out onFriday, with weak manufac-turing data suggesting thecountry could be headed backinto recession just as it read-ies harsher budget cuts.

The NCB PurchasingManagers' Index, which meas-ures the Irish manufacturingsector, fell sharply to 48.4 from51.1 in August, dipping belowthe 50 mark separating growthfrom contraction for the firsttime since February.

Dublin said on Thursday thatit faces a bill of up to 50 billioneuros ($68 billion) to clean upits banks, resulting in tougherthan expected budgets for thenext four years.

Ireland officially exited twoyears of recession in the firstquarter of 2010 before shrink-ing again in the following threemonths. Friday's PMI data sug-gested the third quarter did notlook much better.

Only a growing economywill generate the tax revenuesIreland needs, alongside spend-ing cuts and tax hikes, toreduce a debt mountain that thebank bailout will swell to 99per cent of GDP this year from25 per cent prior to the crisis.

The rescue will also blow thebudget deficit out to 32 percent of economic output thisyear, more than 10 times theEU's 3 per cent cap and by farthe worst in the union.

So far Ireland has managedto calm investor fears it willgo the way of Greece, whichsuffered a debt meltdown thatforced it to turn to itsEuropean Union partners andthe International MonetaryFund for help.

IMF chief DominiqueStrauss-Kahn said in a Germannewspaper he does not expectthe euro rescue fund to be acti-vated for Ireland, adding hisvoice to a clutch of policymak-ers who made the same predic-tion the previous day.-Reuters

Soft factoryPMI hints atproduction

decreaseLONDON: Activity inBritain's manufacturing sectorslowed to a 10-month low inSeptember after export ordersfell for the first time in a year,a survey showed on Friday,suggesting UK growth mayhave peaked.

The Markit/CharteredInstitute of Purchasing andSupply manufacturing PMIindex fell to 53.4 in Septemberfrom a downwardly revised53.7 in August. That was thelowest since November 2009and below forecasts for a read-ing of 53.8.

There was little market reac-tion to the figures, althoughanalysts said they provided fur-ther evidence Britain's recov-ery was losing steam afterstrong growth in the secondquarter.

"Today's survey adds toother evidence suggesting thatthe economic recovery is fad-ing fast," said Vicky Redwoodat Capital Economics. Andsigns price pressures are eas-ing and that firms still havespare production capacityshould provide reassurancethe BoE can leave interestrates at their record low of 0.5per cent for longer withoutstoking inflation.

"This makes it a stone-deadcertainty that the BoE will keepinterest rates down at 0.5 percent at the conclusion of itsOctober Monetary PolicyCommittee next Thursday,"said Howard Archer, economistat IHS Global Insight.

"It also maintains pressure onthe Bank to consider revivingquantitative easing, althoughwe expect them to hold fire forthe time being at least."

BoE policy maker AdamPosen this week said the cen-tral bank might need to restart aprogramme to pump moneyinto the economy, althoughmost analysts reckon he willhave difficulty winning overother policymakers as inflationis still high.-Reuters

was 10.48 per cent. At the close of the first quarter endedSeptember 30, 2010, the net assets of MSF were Rs720 million.

Al Meezan is the only full-fledged Shariah complaint asset man-agement company of Pakistan, with AM2 Management QualityRating. Due to its prudent fund management, Al Meezan has beenable to increase the investor base to over 16,000 and currently


But Friday's US economic data proved mixed, with ISM datashowing growth in the manufacturing sector slowed in September,while construction spending increased unexpectedly in August,and consumer sentiment improved more than expected inSeptember, although it was still stuck at its weakest level in a year.

US blue chips pared early gains after the ISM report but were stillup 0.2 per cent by London's close. Domestic economic data showedactivity in Britain's manufacturing sector weakened more thanexpected in September to grow at its slowest pace in 10 months.

BANKS BOUNCEUK banks rallied after recent sharp falls, benefiting from

investors' slightly improved appetite for risk, with Royal Bank ofScotland up one per cent, and HSBC ahead 1.3 per cent asGoldman Sachs added it to its "Conviction Buy" list.

Among individual gainers, ARM Holdings, up 3.3 per cent, ral-lied after recent falls as Exane BNP Paribas hiked its target pricefor the chip designer, while oil services firm Amec gained 2.4 percent as Credit Suisse started coverage with "outperform."

Defensively-perceived stocks missed out on the blue chip rallyas risk plays became more attractive for investors, with food pro-ducer AB Foods and brewer SABMiller among the worst off,down 1.7 and 1.3 per cent respectively.-Reuters


monthly gains since April 2009, as data showed the economyisn't in such bad shape. Among the latest encouraging signs, newUS claims for jobless aid fell last week and manufacturing in theMidwest region grew faster than expected in September, though themarket remained cautious about the persistent strength in the yen.

The dollar traded at 83.42 yen, not far from a 15-year low of 82.87hit on trading platform EBS before Japan intervened on Sept. 15.

"The US economic data was pretty good, but that didn't reallypush the dollar to gain. We still don't see signs of the US economythat are strong enough to affect currency moves," said KazuhiroTakahashi, general manager at Daiwa Securities Capital Markets.Banking shares were weak for much of the day, hit by what oneanalyst said was selling by overseas hedge funds due to worriesabout banking regulations and sovereign debt problems in Europe.

CNBC reported on Thursday that international banking regulatorsare considering requiring large banks to hold 2 per cent to 3 per centmore capital than the levels included in the recent Basel III agree-ment. Mizuho Financial Group shed 2.5 per cent to 119 yen. ButMitsubishi UFJ Financial Group and Sumitomo Mitsui FinancialGroup both recovered, rising 0.8 per cent and 0.7 per cent respec-tively after spending much of the day in negative territory.

A large number of exporters gained, with Canon Inc up 1.9 percent to 3,970 yen and Honda Motor Co gaining 0.9 per cent to2,990 yen. Trade picked up on the Tokyo exchange's first section,with 2.09 billion shares changing hands, its highest volume inabout two weeks.-Reuters


Inc rose 3.1 per cent to $88.04 and Occidental Petroleum Corp rose3.1 per cent to $80.73. Bank of America-Merrill Lynch on Fridaydowngraded Caterpillar Inc a maker of heavy equipment, to "neutral"from "buy," saying that after a recent run-up in the shares, it saw lim-ited upside. The Dow component was off 0.2 per cent at $78.50.

William Dudley, President of the Federal Reserve Bank of NewYork, said a double-dip recession wasn't likely, but more action bythe Fed to boost growth would probably be needed if the econom-ic outlook didn't improve.-Reuters


manages assets over Rs18 billion. This success is reflective of theconfidence and trust of both individual and institutional investors.

The President urged members and workers of his party toremain calm and avoid being provoked and continue treading the


increased power tariffs by 2 per cent. Earlier minister for water and power told the Senate that con-struction of Mirani and Sabakzai dams had been completed adding Diamer Bhasha Dam project wasbeing inaugurated next month. In response to various questions raised by senators in question hour, hesaid the cost of Mirani and Sabakzai dams was Rs5.81 billion and Rs1.96 billion respectively. Ashrafsaid construction and maintenance of dams was the responsibility of Water and Power DevelopmentAuthority (WAPDA) while setting up of irrigation channels, canals and other necessary water distrib-utaries was the domain of respective provinces. The Wapda has paid a lump-sum compensation amountto Balochistan government for land acquisition and resettlement of affectees of Mirani Dam, he added.He said that amounts of Rs180 million and Rs280 million were allocated for Mirani and Sabakzai damsrespectively in PSDP 2009-10. The upper house was informed that work on the mega project DiamerBhasha dam would start next month and the government of Gilgit-Baltistan has started land acquisi-tion for the project. Foreign funding for the project was had been arranged, he added.

Ashraf said the government has a plan to construct 32 small and medium-sized dams in all theprovinces. Work on some dams has already been started, he added. He said the Chinese governmenthad granted a soft loan of $700 million for the construction of these dams. In response to a supplemen-tary question, he said the government was not taking any dictation from International Monetary Fund(IMF) and had devised a special plan to bring improvement in all state-owned enterprises which are sick.The minister said the government had already exempted all industries except steel from load-sheddingand it had been decided in energy summit to ensure uninterrupted supply to the industries. He said steelindustry was being supplied uninterrupted power for 16 hours.-APP


the easy exit facility under the CEES. The SECP had received many requests from the corporate sec-tor and relevant quarters to extend the validity period of the schemes. They had cited the law and ordersituation, floods and other problems to seek this extension. Moreover, the last date of the schemes coin-cided with the last date of filing of tax returns. The fee structure as applicable in the third phase of theschemes, i.e., September, shall be applicable. It is in the interest of inactive companies to take advan-tage of the schemes by either regularising themselves through filing of their overdue returns under theCRS or strike their companies off the register under the CEES. Moreover, this is the last opportunity forinactive companies to avail themselves of the incentives under the schemes. In addition, the companiesthat closed their books of accounts on June 30, are hereby advised to hold their annual general meetingsby October 31, and file their annual accounts and annual returns within one month thereof. -Online


It said the funds were part of the Bank's $1 billion commitment to Pakistan in this fiscal year.The World Bank and the Asian Development Bank are conducting a damage assessment of the

floods. It said preliminary figures show more than 1.8 million homes were damaged or destroyed,which had displaced over 8 million people. "The credit is part of the first phase of the World Bank'sstrategy to assist with flood recovery in Pakistan," said Rachid Benmessaoud, World Bank countrydirector for Pakistan. In addition, the World Bank said it approved a $130 million credit line to repairPakistan's highway system, much of which was destroyed by the floods.

The Bank said the project included rehabilitating 514 km (319 miles) of highway, resurfacing 342 km(213 miles) of highway, and reconstructing 128 km (80 miles) of damaged roads that provide vitalaccess to remote and disaster-prone communities. Last week, World Bank President Robert Zoellick tolda high-level U.N. meeting on Pakistan that Islamabad would have to prove its ability to manage foreignaid ahead of an October meeting in Brussels to review the flood damage assessment report. -Reuters


However, the fund had provided assistance for the rehab of flood victims, she added.Hina said 2,041 private hospitals and clinics were identified by the FBR as tax defaulters, proceed-

ings against 1541 were in progress and action had been taken in 499 cases. -APP


path of political reconciliation." Being a sitting government, the PPP has huge responsibilities and itis our duty to remain calm and not to overreact to political provocations.

The President said, "PPP knows the value of democracy because it has made huge sacrifices for itand it will protect democracy at all costs." We are not afraid of jails, adding, workers in Badin willget their rights, he said.

He said that we are fighting the battle of extremism adding the blood of Shaheed BB will not goin vain. Earlier, President Zardari inaugurated a national program under Benazir Income SupportProgramme, accordingly all the poor segments of the society will get their insurance.-Online

the civilian government in 1999 had re-emerged. He said his party manifesto will be governed bythree documents - the Holy Qura'an, Quaid's 11 August 1947 Constituent Assembly address and 12April 1949 Objective Resolution by Liaquat Ali Khan. He described nepotism and corruption as thebiggest curse for any society and vowed to rid the country of the same.

"Internal and external threats will be dealt with strongly and the fight against terrorism will continue tillthe elimination of this scourge," the APML Chief pledged. He said GDP growth will be raised to over 6per cent, referring to 8 per cent growth achieved during his government. He said that the country pro-gressed under his 9-year rule, but he admitted that he committed some political mistakes. He forwardedhis apology on those mistakes, saying that 'to error is human, to forgive divine.' He said that he will informthe nation after his comeback about the reasons due to which he committed all the mistakes. -Agencies


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SHIKARPUR: A man runs away from the site of burning oil tankers on a highway near Shikarpur. -Reuters

KARACHI: Suspected militants inPakistan set fire to more than twodozen tankers carrying fuel for Natotroops in Afghanistan on Friday, offi-cials said, a day after three soldierswere killed in a cross-border Nato airstrike.

Angered by repeated incursions byNato helicopters over the past week,Pakistan has blocked a supply routefor coalition troops in Afghanistan.

Pakistan is a crucial ally for theUnited States in its efforts to stabiliseAfghanistan, but analysts say borderincursions and disruptions in Natosupplies underline growing tensionsin the relationship.

A senior Pakistani intelligenceofficial said the border incursionscould lead to a "total snapping ofrelations."

Senior local officials blamed"extremists" for the attack on thetankers in the southern town ofShikarpur. About 12 people, theirfaces covered, opened fire with small

arms into the air to scare away thedrivers and then set fire to 27tankers.

"Some of them have been com-pletely destroyed and others partial-ly. But there is no loss of humanlife," Shikarpur police chief AbdulHameed Khoso told Reuters.

Police arrested 10 people after theattack, including five netted from araid on an Islamic seminary, ormadrassa, a senior police officialsaid.

The tankers were parked at a fillingstation on their way to Afghanistanfrom Pakistan's southern port city ofKarachi.

On Thursday, three Pakistani sol-diers were killed and three woundedin two cross-border strikes by Natoforces chasing militants in Pakistan'snorthwestern Kurram region.

It was the third cross-border inci-dent in a week, the Pakistan militarysaid. Nato said the helicopters brieflycrossed into Pakistan airspace after

coming under fire from people there.Pakistani Prime Minister Yousuf

Raza Gilani said Pakistan was a part-ner in the war against Islamist mili-tancy but it would not allow anyoneto infringe on its sovereignty.

"I want to assure the entire nationfrom this house that we will considerother options if there is interferencein the sovereignty of our country,"Gilani told parliament without elabo-rating.

Hours after the cross-border attack,Pakistani authorities halted tankerscarrying supplies for the Nato forcespassing through the Khyber tribalregion on the Afghan border.

About three-quarters of all cargofor Nato forces in Afghanistan trav-els through Pakistan, most of it viatwo main border crossings: Chamannorth of Quetta in Balochistan andTorkham at the Khyber Pass.

Another third flows intoAfghanistan through the northern

See # 1 Page 11

Nato fuel trucksbear firing brunt

Militants attack on above 2 dozen trucks in Shikarpur

JERUSALEM: US envoy GeorgeMitchell was shuttling betweenIsrael and the Palestinians for a sec-ond day on Friday to save MiddleEast peace talks threatened with col-lapse after only four weeks of directnegotiation.

Mitchell was meeting first withIsraeli Prime Minister BenjaminNetanyahu in Jerusalem then withPalestinian President MahmoudAbbas in the West Bank city ofRamallah.

"We are making efforts togetherwith Senator Mitchell to continue tohold the talks with President Abbas,"Netanyahu said. "We want the talksto continue and I want this. We havea mission of peace."

Abbas says he will pull out of thetalks unless Israel extends its freezeon new building in Jewish settle-ments in the occupied West Bank,which expired this week.

Netanyahu is refusing to extend the

construction moratorium and Israelireports said he had rebuffed a USoffer of "very generous" incentivesto persuade him to extend it by 60days.

US President Barack Obama hasinvested major political capital in abid for a Middle East settlementwithin a year.

Israeli media suggested he wasdesperate to have Netanyahu agree tokeep the talks alive by keeping settle-ment construction frozen, and wasfurious at being rebuffed.

The Jerusalem Post said the WhiteHouse and a State Department offi-cial denied reports that Obama sentNetanyahu a letter proposing securi-ty guarantees, including a continuedIsraeli troop presence in the JordanValley after the creation of aPalestinian state.

But an Israeli official, who request-ed anonymity, confirmed that "the

See # 2 Page 11

US sweatingfor ME serenity

MILAN: The United Nations' foodagency foresees no big spikes inglobal food prices this year afterprices climbed to the highest level in25 months in September, the Foodand Agriculture Organisation's econ-omist said.

The FAO's Food Price Index,which measures monthly pricechanges for a basket of cereals,oilseeds, dairy, meat and sugar, rosein September to the highest levelsince August 2008 at 188.2 points,up from 176.9 points in August, FAOdata showed on Friday.

"There is no threat of major pricespikes reappearing" for the rest of theyear, FAO economist Abdolreza

Abbassian told Reuters.Main drivers for rising prices in

September were grains and sugar,but with wheat and corn pricesfalling back from recent highs, FAOexpects a correction in October to anupward trend in global prices seen inthe past four months, Abbassian said.

"(Grain) supply this year seems tobe adequate enough, and perhapswe've had too much of a hype overprice increases over the summer ...The current indication for October is(for) milder prices than inSeptember," he said.

He said it was too early to giveforecasts for price trends next year,

See # 3 Page 11

Food prices to see nomore spikes this year

FAO Food Price Index at fresh 2-yr high in Sept

Aitzaz termsonset on LHCas conspiracy

ISLAMABAD: Former PresidentSupreme Court Bar AssociationBarrister Aitzaz Ahsan Friday saidattack on Lahore High Court LHCwas a planted conspiracy and curtainmust be pulled on itsperpetrators/plotters.

Talking to media here, he said inaccording to the constitution of thecountry military was under theauthority of civil administration

adding the presidency was immuneto criminal cases and in the prevail-ing circumstances there had beencomplete harmony between the par-liament and judiciary.

He said that attack on LHC build-ing was very disheartening and thelawyers' should not have reacted thisway as it had been assumed that thepleaders' community was using theirpowers unfairly.

Former president Supreme Courtbar also said that black coatsremained on roads for two consecu-tive years for the sovereignty andfreedom of judiciary and not even asingle streetlight was broken duringthat time.

He also said that detention of pres-ident Punjab Bar association wassorrowful. Atzaz said that statementsissued by General (Retd) PervezMusharraf had only earned laughterin Pakistan. -Online

DADU: At least ten peo-ple were injured when aUnited Nation's helicop-ter busy in relief opera-tion came down crashing

into Manchar Lake hereFriday.

In charge rescue opera-tion Brigadier ZubairAhmad told a private TV

news channel this inci-dent that took place in PLakhoo Dadu area was aresult of technical fault.

Soon after the acci-

dent the Pakistan Armyhelicopters and rescueteams rushed to the siteand rescued the injured.-Online

UN copter plunges into Manchar Lake

ISLAMABAD: Prime MinisterSyed Yousuf Raza Gilani Friday saidthe government believed in mean-ingful consultation and also desiredpassage of Accountability Bill withconsensus.

"There is a slight differencebetween accountability and victimi-sation. We do not want to victimiseanyone and the accountability billshall be unanimous," he toldNational Assembly in response to apoint of order by MNA SardarMahtab Abbasi.

"This is the first ever governmentwhere there is no political prisonerand I assure you, there will be novictimisation or vendetta," he added.

Abbasi had objected to the prom-ulgation of the ordinance designat-ing the powers of Chairman NAB toLaw Ministry and had raised seriousconcerns on it pointing out it was notfair to promulgate ordinance in sucha manner after 18th Amendment.

The Prime Minister said, "It isextremely important. When we cameto power, NAB was working underthe Chief Executive and Farooq HNaek was the Law Minister and mycases were being heard by thecourts."

He also said in order to avoid theimpression of any manipulation onhis part he had put NAB under theministry of law for the sake of jus-

tice. He said no ordinance was prom-ulgated without the permission of thePrime Minister and if any unconstitu-tionality was found out regarding thepromulgation of this recent ordi-nance, he would rectify it himself.

Gilani said, the government didnot want to bulldoze the legislationprocess that was why the accounta-bility bill was still pending.

"We want it as a unanimous bill,"he said and elaborated that ChairmanNAB shall also be appointed afterconsensus between the governmentand the opposition. "We sent twonames to Leader of the Opposition inNational Assembly, who did notagree with them and I sought moretime from the Apex Court to reach aconsensus."

He said appointment of ChairmanNAB as well as passage of account-ability bill should be done in consul-

tation with the opposition.Earlier addressing the National

Assembly Prime Minister Gilaniexpressed concerns over increasingand unremitting drone attacks andviolation of Pakistan's airspace byNato and Isaf helicopters.

The PM told the House that despitecatastrophic floods, Pakistan wascommitted to the war against terror-ism as it considered success in thiscrusade was vital for peace, stability,economic development of not onlyPakistan, region, but also the rest ofthe world.

He further told the House in arather an aggressive manner that ifNato did not stop such violationsthen we would have to seriously andmethodically review other options,adding, being an ally of US did notmean we would compromise on oursovereignty.-Agencies

Accountability Billto be of one accord

PM warns Nato of other options if line crossed again

The Financial Daily Epaper 02-10-2010

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Transcript of The Financial Daily Epaper 02-10-2010