Wednesday, September 02, 2009

KARACHI: The result of P.B Rs. 40,000/- has been announced in Quetta today: 1st Prize of Rs.75000000/- went to PB# 305472, 2nd Prize of Rs.25000000 /- won by PB# 676795, PB# 869657, and PB# 236725. Complete results of other prizes are AVAILABLE NOW ! Click Hereto Check Your Results...!

d, draw held at QUETTA:

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Wednesday, September 02, 2009

NEW DELHI: India s exports fell for a 10th straight month in July as the country s key Western markets remained in the grip of the global economic downturn. Shipments overseas slid 28.4 percent to 13.6 billion dollars, data released Tuesday by the Commerce Ministry showed, while imports tumbled 37.1 percent to 31.2 billion dollars. The lower import figure mainly reflects lower oil costs due to the slide in crude prices, but it also shows the domestic economy remains sluggish. Exports for the first four months of the financial year to March 2010 were down 34.1 percent from a year earlier at 49.7 billion dollars. The data come days after India announced plans to boost trade with emerging markets in a bid to wean itself off dependence on economically struggling developed nations that buy more than 60 percent of its exports. The government has also announced a slew of steps such as cheaper finance, better infrastructure, tax relief and reduced transaction costs to spur shipments. The country is aiming for export growth of 15 percent over two years to achieve sales of 200 billion dollars by March 2011, up from 168 billion dollars for the year to March 2009.
Commerce Minister Anand Sharma said he would be happy to sustain exports this year at last year s levels but economists say they are likely to contract by 10 percent. The government originally set a target of 200 billion dollars last year but was forced to lower that when the global economic crisis hit. Unlike China, where overseas sales have been a main growth driver, Shipments account for around 15 percent of gross domestic product in India s still relatively inward-looking economy.

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Wednesday, September 02, 2009

KARACHI - Out of 112 commodities in the Consumer Price Index (CPI) food group, the prices of 74 items increased from 10 to 93 per cent, 17 items recorded 0-10 per cent increase while 18 commodities showed decline in the value in July 2009. The prices of most of the food items had started surging two to three weeks ahead of the holy month of Ramazan. One food item, coffee, witnessed 100 percent price change (YoY) in July this year. In terms of weighted contribution, seven out of top ten commodities were from CPI food group during July 2009, i.e., fresh milk, wheat flour, meat, sugar, vegetables, readymade food and tomatoes.

State Bank of Pakistan s Inflation Monitor for July 2009 points out that the weighted contribution of these seven food commodities in the overall CPI inflation was 37.6 percent with 20.4 percent weight. Within food group, just five items, i.e., wheat flour, fresh milk, meat, sugar and vegetables contributed 73.8 percent with 45.3 percent weight to YoY food inflation. CPI food inflation month-on-month (MoM) basis showed significant increase during July 2009 compared to the previous month. CPI food inflation (MoM) was 3.0pc during the month under review compared to 2.8pc during July 2008 and 1.0pc during the previous month. Detailed item-wise analysis of CPI food basket on MoM basis showed that 11 items including onion, pulse mash, eggs, potatoes, tomatoes, garlic, etc. showed double digit price change during July 2009, whereas prices of 16 items including arvi , ghee, mustard oil, chilies green, red chillies, etc. declined. Within food group, further segregation (of 40 composite food items in the CPI basket) can be made on the basis of perishable and non-perishable commodities.

Inflation (YoY) in the perishable group witnessed increase and was recorded at 26.6 percent during July 2009 compared to 22.9 percent in July 2008 and 22.8 percent during the preceding month. Prices of perishable commodities are often volatile and this is reflected in the inflation (MoM) which reached 14.7 percent during July 2009 compared to 11.3 percent in the same month last year and 3.6 percent during June 2009. Inflation (YoY) in non-perishable group declined during the month under review and reached 8.6 percent compared to 35.4 percent during the corresponding month last year and 9.0 percent in June 2009. On MoM basis inflation in non-perishable group was 1.5pc during July 2009 compared to 1.8 percent in July 2008 and 0.7pc during June 2009.Overview The current fiscal year commenced with ease in headline CPI inflation (YoY) compared to the same month of previous fiscal year. Consumer price inflation year-on-year basis was 11.2 percent during July 2009 as against 24.3 percent in July 2008 and 13.1 percent in the previous month. Significant decline was witnessed in both food and non-food group s inflation (YoY) during July 2009 as compared to the same month last year. Contrary to YoY inflation, CPI inflation (MoM) increased during July 2009 and was recorded at 1.5 percent compared to 1.0 percent in June 2009. CPI food group showed significant increase in inflation (MoM) during July 2009, whereas non-food group showed a decline of 0.7 percentage points. Ease in inflationary pressures can also be seen in both measures of core inflation, i.e., non-food non-energy (NFNE) and 20% trimmed mean during July 2009. Both NFNE and 20% trimmed mean showed decline during July 2009 as compared to the same month last year and the previous month.

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Wednesday, September 02, 2009

KARACHI - The fertiliser sector continues to enlist decent growth as overall nutrients off-take registered a growth of 67 percent in July 2009 on Year on Year (YoY) basis, stated figures released by the National Fertiliser Development Centre (NDFC) for 7MCY09. The total nutrient off-take continued to follow a rising trend as huge growth of 67 percent was registered in July 09 on YoY basis. Moreover, encouraging growth of 21 percent was observed on MoM basis as demand continued to persist despite better off-take during June 09. The impressive growth in the overall off-take was primarily backed by robust increase in the demand of DAP which in turn was reflected in better phosphate growth and thereby a much improved NP ratio of 3.00. Though the ratio is still higher at 4.61:1 on YTD basis, it has anyhow improved from 11.6:1 which prevailed during the same period last year. However, DAP sales remained attractive as total off-take grew by 585 percent on YoY basis and 262 percent on CYTD basis, while this massive upsurge can be attributed to last year s much lower DAP demand due to higher prices which prevailed back then, MoM off-take, on the other hand, also showed quite decent growth as an increase of 58 percent was registered. Better DAP off-take along with timely rainfall is expected to have a positive impact on the yields of sugarcane, rice and cotton as Kharif growing season peaks. As far as urea is concerned, there has been an increase of 12 percent in CYTD off-take, which also improved by 13.8 percent and 26.4 percent on MoM and YoY basis respectively.

All in all, a much better Urea-to-DAP ratio of 2.73 was maintained during July 09 compared to last 7 year s average of 4.11 for the same month though the ratio still stood disturbed at 5.05 on CYTD off-take. While DAP prices have come down significantly from last year s Rs3,079/bag to Rs1, 897/bag in Jul 09, the trend appears to repeal in Aug 09 amidst global price increase (7pc during Aug 09). Moreover, MoM DAP off-take is expected to slowdown in Aug09 amidst rising price trends coupled with seasonal tendency of lower off-take. Urea prices on the other hand, continued to remain higher on YTD avg., improving by 20 percent. Month-wise urea prices however continue to topple down marginally, decreasing by 0.6 percent MoM and further by 3.8 percent in Aug 09.

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Wednesday, September 02, 2009

LONDON: Oil prices rebounded slightly on Tuesday, a day after tumbling on fears that crude demand growth could weaken in China, the world s second biggest oil consumer after the United States, traders said. New York s main contract, light sweet crude for October delivery rose 30 cents to $70.26. Brent North Sea crude for October gained 55 cents to 70.20 dollars a barrel around midday trade in London. Oil prices had slumped to below 70 dollars by the close on Monday after losing around three dollars as a stock market plunge in China sent jitters across world markets about prospects for global economic recovery. If the Chinese economy were to stutter it would be disastrous for oil demand growth as the Asian dragon is the world s second largest oil consumer and has so far been perceived as a shining beacon of economic recovery, analysts at JBC Energy wrote in a research note to clients published Tuesday. But there was better news for China on Tuesday as official data showed the country s manufacturing activity had expanded in August at its fastest pace in 16 months, signalling that the world s third largest economy is stabilising.

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Wednesday, September 02, 2009

KARACHI: The Karachi Stock Exchange Index (KSE) has crossed the level of 8,900 after more then eight months whereas yesterday, foreign investors made buying of $24, million, the highest during last 17 months.

The trading started with increment of 76 points, however, KSE-100 Index soon cross the level of 8,900 with the increment of 200 points. Last time, such activity was witnessed in December 15, 2008 when KSE-100 Index reached at 8817 points level. Most of the buying of shares occurred in the sectors of oil and gas, banking, telecom, cement and transport.

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