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Driver Checker 2.7.4

2010-02-10T08:34:00.000-08:00

Features:

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farooq

2010-02-10T07:37:00.000-08:00

The Mib30 index includes the 30

stocks with the highest market capitalisation and trade activity. It is also updated every minute

farooq

2010-02-10T07:34:00.000-08:00

Borsa Italiana (BIT)

2009-06-03T10:02:00.000-07:00

About the Borsa Italiana :

The Italian Stock Exchange (Borsa Italiana) indexes approximately 270 listed stocks within five different market sectors:

MTA/MTAX and Mercato Expandi

Blue Chip: stocks listed under S&P Mib and Midex and all companies with a solid economical/financial structure and a market capitalisation of over one billion euro.
Star: medium-sized companies with a market capitalisation of between 40 million and one billion euro. These companies must also satisfy other criteria concerning accountability, high liquidity and company structure.
Standard: small- and medium-sized companies with market capitalisation of between 40 million and one billion euro.
Mercato Expandi: small companies with a minimum capitalisation of one million euro.

Derivatives (IDEM)

Futures, mini Futures and Options on the S&P Mib index
Futures and Options on individual stocks

Covered Warrants and Certificates (SeDeX)

Government Bonds and Securities (MOT)

Exchange-Traded Funds and Index Open-end Funds (MTF)

The Italian Stock Exchange supports after market hours and electronic trading. Here is a list of major indices on Borsa Italiana:

The principal index is Mibtel which covers all shares quoted on MTA and MTAX as well as some foreign stocks. It is updated every minute.

The Mib30 index includes the 30 stocks with the highest market capitalisation and trade activity. It is also updated every minute.

S&P Mib represents the underlying trend of the Italian Stock market. The number of stocks included varies with companies leaving and entering the index depending on whether they fulfill its criteria. It is managed by S&P Poor's Inc, New York.

The Midex covers the highest liquidity blue chip companies in the S&P Mib index.

ALLSTAR is a weighted Index of all the shares listed in the STAR segment of the MTA and MTAX market. It is also updated every minute.

Irish Stock Exchange (ISE)

2009-06-03T10:01:00.002-07:00

About the Irish Stock Exchange :

The Irish Stock Exchange or 'The Exchange' has a board of twelve directors. The directors divide the board into subcommittees to allow for concentrated efforts surrounding the governance, problems, and operations of the exchanges. There are eleven subcommittees consisting of admissions, appeals, audit, complaints adjudication, disciplinary, investment, listing, rules, senior appointments and remuneration, special products listing, and sponsor application. Each subcommittee team is responsible for handling operations that surround their topic.

As a checks and balance system, the Irish Stock Exchange has developed a list of rules for the securities that apply to both the mainstream and small markets. The rules are :

corporate securities - equities, preference shares and corporate bonds
Irish Government bonds
exchange traded funds (ETF)
covered warrants
UCITS & investment funds
and debt securities.

For the Irish Stock Exchange to list companies publicly there are fees that are charged for company listings, investment funds, specialist debt securities, member fee, registered sponsor's fees, and information products.

The Irish Stock Exchange developed a regular market for the mainstream businesses and a market for small to mid-sized companies, the Irish Enterprise Exchange (IEX). All of the trades are done in Euros based on the Irish currency.

London Metal Exchange (LME)

2009-06-03T10:01:00.001-07:00

About the London Metal Exchange :

The London Metal Exchange (LME) is the world's leading metal market specializing in non-ferrous base metals trading. The LME operates successfully with a turnover in excess of US$4,500 billion and market capitalization of around $3,000 billion annually. It plays an important part in maintaining the stability of commodity prices throughout the world.

From January 2000, The London Metal Exchange Limited became a wholly owned subsidiary of a new company - LME Holdings Limited. The LME Limited has up to 13 directors and six of them are the shareholders of LME Holdings Ltd.

Today, the exchange trades in eight metals, two plastics, and one index that include six primary base metals. The eight metals contracts are copper grade A, primary aluminum, standard lead, primary nickel, tin, special high grade zinc, aluminum alloy, and North American Special Aluminum Alloy (NASAAC). The plastic contracts include polypropylene (PP) and linear low density polyethylene (LL). Unlike other markets, trading in the London Metal Exchange is carried out in lots rather than tones.

The London Metal Exchange carries three prime roles - hedging, delivery, and pricing. The participants in the Exchange are protected against risks arising from movements in base metals and plastic prices, provided with storage and delivery facilities, and presented with the references prices in the metal and plastic industry for benchmarking.

The LME has three trading platforms - the open outcry market (ring trading), Inter-office telephone market, and the LME Select market. During ring trading a small number of members trade each LME contract in specific 5-minute periods 'rings.' At present, there are 11 'ring dealers' and they make a significant proportion of the LME contracts. The Inter-office telephone market is a 24 hour global market place transacted between member companies over the phone. Whereas, the LME Select screen trading system is the LME's official electronic trading platform, where accredited traders execute trades electronically. There are about 100 traders involved in the LME trading.

All LME prices are quoted in US Dollars, but the LME permits contracts in sterling, Japanese yen, and Euros. Additionally, the LME provides official exchange rates from US Dollars for each of the other accepted currencies.

London Stock Exchange (LSE)

2009-06-03T10:00:00.001-07:00

About the London Stock Exchange :

The London Stock Exchange is the most important exchange in Europe and one of the largest in the world. It lists over 3,000 companies and with 350 of the companies coming from 50 different countries, the LSE is the most international of all exchanges.

The London Stock Exchange is comprised of two different stock markets: the Main Market and the Alternative Investment Market (AIM). The Main Market is solely for established companies with high performance, and the listing requirements are strict. Approximately 1,800 of the LSE's company listings trade on the Main Market, and the total market capitalization is over 3,500 billion. The Alternative Investment Market on the other hand trades small-caps, or new enterprises with high growth potential. Over 1,060 companies list on this market, with a total capitalization of 37 billion.

The LSE is completely electronic, but different shares are traded on different systems. Highly liquid shares are traded using the SETS automated system on an order driven basis. This means that when a buy and sell price match, an order is automatically executed. For securities that trade less regularly, the London Stock Exchange implements the SEAQ system, where market makers keep the shares liquid. These market makers are required to hold shares of a specific company and set the bid and ask prices, ensuring that there is always a market for the stock.

The LSE also has a new and growing exchange for equity derivatives called EDX London, created in 2003. In 2004, EDX traded an average of 382,599 contracts per day. Its aim is to become the leading derivatives market in the world.

Toronto Stock Exchange (TSX)

2009-06-03T09:59:00.000-07:00

About the Toronto Stock Exchange :

The Toronto Stock Exchange is the largest stock exchange in Canada, as well as the 7th largest in the world. The exchange lists 4,000 securities and trades an average of 250 million shares per day. The TSX lists companies from Canada, the U.S., and many other countries, and it has listings from a wide variety of industries. While the Toronto Stock Exchange was historically a floor-based exchange, it now operates electronically.

The TSX is one of two exchanges owned and run by TSX Group. The Toronto Stock Exchange only trades senior equities with strong historical performance, while the TSX Venture Exchange trades shares in new, high growth companies. The Toronto Exchange offers investors more solid, predictable investments, while the Venture Exchange offers investments with a higher risk, but more potential for growth and therefore higher returns. Companies trading on the TSX Venture Exchange may move to the Toronto Exchange once they meet the requirements.

New York Stock Exchange (NYSE)

2009-06-03T09:58:00.001-07:00

About the New York Stock Exchange :

Trading approximately 1.46 billion shares each day, the New York Stock Exchange (NYSE) is the leading stock exchange in the world. The exchange trades stocks for some 2,800 companies, ranging from blue chips to new high growth companies. Each listed company has to meet strict requirements, as the NYSE works to maintain its reputation of trading strong, high quality securities.

Operating as a continuous auction floor trading stock exchange, the major players on the floor of the New York Stock Exchange are specialists and brokers. Brokers are employed by investment firms and trade either on behalf of their firm's clients or the firm itself. The broker moves around the floor, bringing buy and sell orders to the specialists. Each specialist stands in one location on the floor and deals in one or several specific stocks, depending on their trading volume. The specialist's job is to accept buy and sell orders from brokers and manage the actual auction. It is also the specialist's job to ensure that there is a market for their specified stocks at all times, meaning they will invest their own firm's capital at times to keep the market active and maintain the shares' liquidity. Specialists and brokers interact to create an effective system that provides investors with competitive prices based on supply and demand.

The NYSE is controlled by its six to twelve member Board of Directors. All Directors are independent of the trading floor's activities, except for the CEO who is left out of certain proceedings. This is to ensure that the regulation of the exchange is kept separate from the exchange's operations. The Board of Directors is elected annually and in turn elects the Board of Executives, which consists of 12 to 22 representatives from the many member firms on the exchange. These Executives serve as advisors to the Directors, keeping them updated on current issues on the exchange.

Chicago Mercantile Exchange (CME)

2009-06-03T09:57:00.000-07:00

About the Chicago Mercantile Exchange :

The Chicago Mercantile Exchange is the United States. largest futures exchange, as well as the second largest in the world. It trades futures and options on interest rates, stock indexes, foreign currencies, and agricultural commodities. In 2004, the exchange traded 805.3 million contracts with a value of $463.4 trillion.

The CME is one of the few exchanges that still utilize the open outcry system of trading. Under this system, the traders all gather on the trading floor and call out their bids and offers. Different colored jackets are used to distinguish the various participants, and hand signals are also often used, as the shouting can make it hard to hear. The exchange has two main trading floors, one for the foreign currency and interest rate derivatives and another for the agricultural commodities and stock index derivatives. The CME also utilizes electronic trading, using GLOBEX2. This system allows for 24 hour trading while also allowing traders who are not physically located on the Chicago trading floor to participate.

stock exchange statistics index

2009-06-03T09:55:00.000-07:00

Exchange Statistics

Date	Time	Total Trade	Advance	Decline	Unchanged	Total	Exchange Volume	Exchange Value
3/6/2009	18:18:48	0	0	0	0	0	0	0

Market Statistics

Market	State	Trades	Volume	Value
Regular	Loaded	0	0	0
CFS	Loaded	0	0	0
Future^TM	Loaded	0	0	0
CSF^TM	Loaded	0	0	0
SIF^TM	Loaded	0	0	0
Square Up	Loaded	0	0	0
Odd Lot	Loaded	0	0	0
IPO	Loaded	0	00

Indices

	Current Index	High	Low	Change	Volume	Value
KSE-30 Index	7445.14	7445.14	7445.14	-0.00	0	0
KMI-30 Index	10264.79	10264.79	10264.79	0.00	0	0
KSE-100 Index	6989.94	6989.94	6989.94	0.00	0	0
All Share Index	5017.62	5017.62	5017.62	-0.00	0	0

Symbol

Bid Vol

Bid Price

Offer Price

Offer Vol

Last Rate

Change

Total Vol

Jah.Sidd. Co.	0	0.00	25.20	439,600	25.20	-1.32	18,479,800
Oil and Gas Dev	3,000	74.60	74.69	5,000	74.86	-1.86	9,786,700
National Bank of Pak	300	64.80	64.89	1,800	64.70	-3.33	8,001,500
Arif Habib Sec.	0	0.00	28.49	372,400	28.49	-1.49	7,638,500
K.E.S.C.	93,000	3.05	3.07	500	3.12	0.22	7,601,000
P.T.C.L.A	5,000	16.07	16.15	2,000	16.04	-0.46	6,926,400
D.G.K.Cement	1,500	23.78	23.80	7,500	23.77	-1.25	6,789,900
MCB Bank Ltd. XD	47,700	149.00	149.14	500	148.66	-7.71	4,636,500
Saudi Pak Bank	40,000	7.59	0.00	0	7.56	0.97	4,525,000
Pak Petroleum Ltd.	17,000	180.50	180.70	1,500	180.36	1.31	4,486,600
B.O.Punjab	0	0.00	11.29	152,400	11.29	-1.00	3,872,500
Adamjee Insurance	0	0.00	87.08	484,900	87.08	-4.58	3,322,900
Pak Oilfields	200	151.05	151.37	300	150.58	-2.63	3,138,600
Lucky Cement	8,800	54.00	54.09	2,000	53.95	-1.45	3,039,100
Nishat Mills Limited	200	37.20	37.23	2,500	36.81	0.28	2,918,700
Bank Al-Falah	13,800	11.20	11.24	6,700	11.19	-0.51	2,833,200
Pak.PTA Ltd.	6,500	3.17	3.18	3,000	3.20	-0.03	2,506,000
Engro Polymer	97,500	19.71	0.00	0	19.60	0.89	1,807,000
Azgard Nine Ltd.	0	0.00	23.69	89,500	23.69	-1.24	1,776,500
Engro Chem.	300	130.51	130.99	500	130.89	-1.70	1,751,200
Fauji Fertiliz Co.	100	99.40	99.45	400	99.52	-1.49	1,687,600
Kohat Cement Co.	500	7.91	8.04	9,500	8.08	-0.75	1,634,500
Attock Refinery Ltd.	400	117.52	117.79	500	117.07	-5.48	1,587,300
Pak ReinsuranceXD	4,300	38.53	38.54	700	38.43	-1.92	1,397,600
Zeal Pak.	162,500	0.40	0.44	65,500	0.41	-0.01	1,372,500
Maple Leaf Cem.	43,500	4.20	4.25	50,000	4.25	-0.03	1,269,000
Hub Power Co. Ltd	1,000	25.10	25.15	500	24.86	-0.84	1,242,500
WorldCall Telecom	5,500	2.70	2.75	20,000	2.70	-0.10	1,207,500
Fauji Fert Bin	4,500	17.02	17.05	5,000	17.01	-0.20	1,177,000
Dewan Cement	1,000	2.93	2.99	30,000	2.93	-0.04	1,088,000

Archive for the 'Karachi Stock Exchange (KSE)' Category

2009-06-03T09:54:00.001-07:00

Me: So, what’s the latest in stocks?
Agent: Netsol, it’s been hitting upper cap for the last two days and today it’s again going for upper cap.
Me: What’s the reason for that?
Agent: BMA just upgraded its fair value to Rs42 per share so it’s a steal at the current price of Rs20.
Me: Really? Why?
Agent: I don’t […]

Karachi Stock Exchange (KSE) and the small investors

2009-06-03T09:52:00.002-07:00

Friend: “Yaar market double ho gai aur hum dekhtay hi reh gai ”
Me: “Haan bhai, ye to hamesha ka dastoor hai. Jub hum market mein enter hongay to ye log hamain maal bechain gai aur market crash ho jai gi. Hum hamesha ki tarah kahain gay ainda kabhi stock market mein invest nahi karain […]

Hyderabad Stock Exchange (HSE)

2009-06-03T09:52:00.001-07:00

About the Hyderabad Stock Exchange :

Since the establishment of the Hyderabad Stock Exchange in 1943, membership has increased from 55 to 869. As of 1999-2000, the exchange had a total of 310 brokers, ranging from corporate brokers to proprietor brokers. After the Securities Contracts Regulations Act in September 2005, the exchange became a corporatised and de-mutualised organization.

Karachi Stock Exchange (KSE)

2009-06-03T09:50:00.000-07:00

About the Karachi Stock Exchange :

Karachi Stock Exchange (KSE) is the biggest and most liquid exchange in Pakistan with the average daily turnover of 525.15 million shares and market capitalization of US $ 54.28 billion. The international magazine 'Business Week' announced the KSE as the best performing world stock market in 2002. Since then the KSE continuously maintains the reputation as one of the best performing markets in the world.

Since 1991, foreign investors have an equal opportunity together with local investors to operate in the secondary capital market on the Karachi Stock Exchange. The establishment of the new policy for foreign investors and initiated privatization in Pakistan has accelerated the development of the KSE, which had even 663 companies listed in 2006. In addition, companies have a choice to be listed on one of the two markets - the ready market and the over-the-counter (OTC) market, which has lesser listing requirements. While the ready market requires listing companies to have minimum paid up capital of Rs 200 million (about UK � 1.8 m), the companies with minimum of Rs 100 million can be listed on the OTC market.

The Karachi Stock Exchange trades the KSE-100 Index. It is a highly-diversified index of 100 largest capitalization companies' stocks from all sectors of Pakistan economy. A constantly revised index is a good indicator of the overall Exchange performance over a period of time. In 2005, 88% of the KSE total market capitalization was represented by the KSE-100 Index.

The membership in the Karachi Stock Exchange is limited. Only 200 individual and corporate entities can register as members in the KSE. In 2005, 162 members traded actively on the Exchange. In addition, foreign corporate entities may also become the members of the KSE with the condition that the nominee member of the company is a citizen of Pakistan.

KSE 100 Index

2009-06-03T09:47:00.000-07:00

Karachi Stock Exchange 100 Index (KSE-100 Index) is a stock index acting as a benchmark to compare prices on the karachi stock exchange (KSE) over a period of time. In determining representative compaines to compute the index on, companies with the highest are . market capitalization selected. However, to ensure full market representation, the company with the highest market capitalization from each sector is also included.

How the Karachi Stock Exchange (KSE) can be improved?

2009-06-03T09:46:00.001-07:00

Abstract: Background and Problem Discussion:Since last two decades the Karachi Stock Exchange (KSE) is progressing very well and has made international recognition in stock trading business. This progress is the result of reformation applied by the Security Commission of Pakistan, with help of the Government of Pakistan. But still in comparison with developed stock exchanges of the world, KSE is far behind in terms of infrastructure available for trading and technology using for trade. KSE needs to improve a lot to reach at the level of developed stock markets of the world. Purposes: The main purpose of study is to highlight the shortcomings present in following three aspects of KSE and provide the suggestions to accelerate the development process of it. Organizational structure of KSE Trading and Trading instruments of KSE Settlement process of KSE Secondary purpose of this research is to provide the basic information about the importance and functions of stock market, trading process and player which are involved in trading process and other information with reference to financial literacy. Conclusion: Currently, demutualization and incorporation should be the first priority of the KSE. As demutualization and incorporation is taking time so KSE should start stepping towards internationalization by developing business relations with other regional and international exchanges and try to attract the regional and international companies for cross border listing on its indices. Remaining three suggestions: separate markets for different capital companies, improvement in the derivative market and upgrading in trading, clearing and settlement process can be applied with the growth of KSE but these all are also necessary to achieve the world class standard of stock markets.

Home > Economy> Bank & Finance > Kuwaiti Stock Exchange (KSE)

2009-06-03T09:45:00.000-07:00

Share trading in Kuwait started in 1952, when the first Kuwaiti shareholding company -the National Bank of Kuwaitwas established. The first law concerning the organisation of the issue of shares and subscription was promulgated in October 1962.

In 1970, Law No 32 was issued on the regulation of stock trading in shareholding companies. In 1976, Ministerial Resolution No 61 led to the organisation of dealings in Kuwaiti shareholding company shares.

In 1977, the bourse was opened and named the Kuwait Stock Exchange (KSE). It was, however, in August 1983 that the KSE was reorganised as an independent financial institution, by an Amiri decree, to be managed by the Exchange Committee and by the executive administration.

After the Iraqi Invasion of Kuwait in August 1990, the Kuwait Stock Exchange was closed and resumed operations on September 28, 1992.

KSE became the first stock market in the world to use an Arabic Automated System on January 17 1996, when it implemented the automated trading system.

The new system allows faster, fairer and more efficient securities trading and has improved competitiveness in the market and increased equality between traders. The system provides brokers access to the all-pertinent information required to assist their clients in the trade of securities. The end result is a better client-broker-exchange relationship

On September 10, 2000, the Foreign Investment Law was issued by the Government to allow foreigners to invest in the Kuwait Stock Exchange for the first time.

Trading Hours

Opening for Regular Market 09:00 am
Pre-auction 09:10 am
Open & Continuous Trading 09:15 am
Closing 12:15 pm
Opening for Forward Market 12:15 pm
Closing 01:15 pm

Korea Stock Exchange

2009-06-03T09:44:00.000-07:00

When the KSE opened its market in 1956, there were 12 listed companies, and the market was dominated by bond trading. However, the KSE grew rapidly in a short period, owing to the government policies aimed to develop a capital market that supports the national economic development plans and to promote the corporations to go public.

The KSE, which gives a priority to the efficient and effective transaction of securities and establishment of fair market price, has made sustained efforts in improvement of its trading systems in order to support the quantitative growth. For the past half century, the KSE has been busy with creating and improving the market infrastructure. Since the introduction of the open outcry system in 1975, the computer trading system was introduced in 1988 and used in parallel with the open outcry system until September 1997 when the KSE has fully automated its trading system.

In order to facilitate effective book-entry transfer and deposition of the securities, the Korea Securities Depository (KSD) was established 1974, and to ensure efficient computerization of the securities markets, the Korea Securities Computer Corporation (COSCOM) was established in 1977. With the growth of the securities market, both comprehensiveness and size, the KSE was moved into the present location in Yeoido, thus creating a Korean version of "Wall Street".

In 1992, the KSE removed the investment ceiling imposed on the foreign investors, thus facilitating direct foreign investment in the listed Korean companies. Then, the stock index futures market was launched in 1996 and the stock index options market in 1997 respectively. Subsequently, the KSE has emerged as one of the important security markets in the world.

Presently, the investors from some 60 different countries, including Japan, UK and USA, conduct their trading on the KSE market through over 50 domestic and foreign member securities firms.

For the protection of investors and establishment of fair market price, the KSE is taking following actions:

Enhancing the investor confidence by recruiting and listing the companies with profitability, stability and growth potential;

Obliging the listed companies to promptly disclose corporate information necessary for making investment decisions, and providing timely access to such disclosure information through the disclosure information system which investors around the world can access on real-time basis;

Establishing and operating an advanced, comprehensive market surveillance system, including stock price watch and monitoring of trading activities, thus building a transparent securities market; and

Intensifying the investigation on unfair trading in cyber sphere.

Then, to ensure the connectivity and partnership with the exchanges in the world, and to meet the challenges associated with the globalization and enhancement of user convenience, the KSE is strengthening its international cooperation.

The KSE is also making an effort to reform the market structure in response to both the internal and external competition, particularly those associated with the overseas listing of domestic companies and foreign businesses entry into domestic market. For instance, we are in the process of bringing down the barriers to market entry and harmonizing our trading and settlement systems with the global standards.

About Karachi Stock Exchange (KSE)

2009-06-02T06:18:00.001-07:00

HISTORY

Karachi Stock Exchange is the biggest and most liquid exchange and has been declared as the “Best Performing Stock Market of the World for the year 2002”. As on December 31, 2007, 654 companies were listed with the market capitalization of Rs. 4,329,909.79 billion (US $ 70.177) having listed capital of Rs. 671.269 billion (US $ 10.880 billion). The KSE 100 Index closed at 14075.83 on December 31, 2007.

KSE has been well into the 6th year of being one of the Best Performing Markets of the world as declared by the international magazine “Business Week”. Similarly the US newspaper, USA Today, termed Karachi Stock Exchange as one of the best performing bourses in the world.

The market performing during the period June 1998 to December 2007 is given under.

DECADEWISE PROGRESS
YEAR	NO. OF LISTED COMPANIES	LISTED CAPITAL (Rs. in million)	MARKET CAPITALISATION (Rs. in million)
1950	15	117.3	-
1960	81	1,007.7	1,871.4
1970	291	3,864.6	5,658.1
1980	314	7,630.2	9,767.3
1990	487	28,056.0	61,750.0
2000	762	236,458.5	382,730.4

PERFORMANCE

KSE 100 INDEX

GROWTH & PROGRESS

* As on December 31, 2007

Today KSE has emerged as the key institution of the capital formation in Pakistan with:-

Listed companies 654, securities listed on the exchange 692: ordinary share 654, Preference shares 14 and debt securities (TFC's) 24.
Listed capital Rs.671,269.47 million (US$ 10,879.57 million).
Market capitalization Rs.4,329,909.79 million (US$ 70,176.82 million).
Average daily turnover 268.23 million shares with average daily trade value Rs.25,262.97 million (US$ 409.45 million).
Membership strength at 200.
Corporate Members are 174 out of which 9 are public listed companies.
Active Members are 163.
Fully automated trading system with T+2 settlement cycle.
Deliveries through central depository company.
National Clearing and Settlement System in place.

MARKET INDICES

KSE began with a 50 shares index. As the market grew a representative index was needed. On November 1, 1991 the KSE-100 was introduced and remains to this date the most generally accepted measure of the Exchange. The KSE-100 is a capital weighted index and consists of 100 companies representing about 86 percent of market capitalization of the Exchange.

In 1995 the need was felt for an all share index to reconfirm the KSE-100 and also to provide the basis of index trading in future. On August 29, 1995 the KSE all share index was constructed and introduced on September 18, 1995.

KSE has also introduced KSE-30 Index which is calculated using "Free Float Market Capitalization Methodology". The primary objective of the KSE 30 Index is to have a bench mark by which the stock price performance can be compared to over a period of time. In particular, the KSE-30 Index is designed to provide investors with a sense of how large company's scrip's of the Pakistan's equity market are performing.

KARACHI STOCK EXCHANGE K.S.E. INDICES

2009-06-02T06:15:00.000-07:00

	KSE 30 INDEX	KSE 100 INDEX	ALL SHARE INDEX
Current	7655.03	7125.11	5110.62
High	7671.92	7125.11	5110.62
Low	7655.03	7125.11	5110.62
Change	-16.89	-0.00	0.00
Volume	0	0	0
Value	0	0	0

KSE 100 INDEX

K..S.E TOP SYMBOLS

2009-06-02T06:13:00.000-07:00

Symbol

Bid Vol.

Bid Price

Offer Price

Offer Vol.

Last Rate

Change

Total Vol.

Jah.Sidd. Co.

11,500

26.51

26.60

5,000

26.52

-1.36

11,325,800

Oil and Gas Dev

3,100

76.60

76.80

100

76.72

-1.62

6,942,800

Azgard Nine XB

3,000

24.93

24.94

1,000

24.93

-1.23

4,717,500

Arif Habib Sec.

0.00

29.98

459,500

29.98

-1.57

3,521,500

Adamjee Insurance

48,300

91.80

92.00

11,200

91.66

-1.48

3,264,700

D.G.K.Cement

700

24.92

25.00

17,900

25.02

-0.41

3,214,700

Pak ReinsuranceXD

500

40.15

40.25

AA 2,000

40.35

-1.19

2,987,400

Lucky Cement

17,000

55.75

55.79

200

55.40

0.21

2,975,200

Nishat Mills Limited

49,500

36.85

37.00

14,200

36.53

0.56

2,763,200

MCB Bank Ltd. SPOT

0.00

159.69

-2.79

2,532,800

National Bank of Pak

1,100

67.95

68.00

6,400

68.03

-2.01

2,337,800

Saudi Pak Bank

230,500

6.81

0.00

6.59

0.78

2,242,000

Dewan Cement

500

2.98

3.00

357,500

2.97

-0.03

2,177,000

P.T.C.L.A

10,400

16.49

16.50

181,600

16.50

-0.19

2,120,500

Pak Petroleum Ltd.

300

178.71

178.95

2,100

179.05

0.38

1,797,200

Bank Al-Falah

19,500

11.70

11.74

15,000

11.70

-0.03

1,702,300

Engro Chem.

9,700

132.70

132.75

2,000

132.59

-2.75

1,512,300

Pak Oilfields

4,000

153.61

154.00

25,600

153.21

0.81

1,312,900

Pak.PTA Ltd.

262,500

3.24

3.25

11,000

3.23

-0.02

1,299,500

Fauji Fert Bin

3,000

17.18

17.23

5,000

17.21

-0.04

1,297,500

Pak Elektron

1,000

24.23

24.25

36,400

23.88

0.77

1,291,200

Fauji Fertiliz Co.

8,400

101.05

101.10

200

101.01

-1.02

1,257,000

Attock Refinery Ltd.

800

122.64

122.89

1,000

122.55

-1.59

1,027,100

K.E.S.C.

2,500

2.89

2.90

8,500

2.90

0.03

958,000

B.O.Punjab

31,000

12.30

12.34

500

12.29

-0.01

807,400

P.S.O.

400

208.50

208.89

100

208.34

1.23

712,900

United Bank Ltd.

1,500

40.56

40.70

500

40.63

-0.62

666,600

NIB Bank

5,000

5.27

5.29

1,000

5.26

-0.05

664,500

WorldCall Telecom

2,000

2.80

2.85

15,000

2.80

-0.08

647,500

Pervez Ahmed

1,000

5.95

5.99

500

5.94

-0.09

556,500

NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS(Part-VI)

2009-06-01T09:52:00.001-07:00

April 15, 2009: Appointed four Deputy COOs to reorganize the entire distribution company into four integrated operating divisions. Four Deputy COOs to Head Divisions Chief Operating Officer Jan Abbas Zaidi announced on March 2nd, 2009 the appointment of four Deputy COOs (DCOOs) that will work towards reorganizing KESC, over the next six months, into four integrated operational Divisions. The DCOOs will be responsible for all maintenance and commercial operations within their Division, each of which will include more than 500,000 customers. A brief biographical sketch of each is as follows: Syed Muhammad Taha, Region 1 BE (Mechanical), MBA; Over 16 years of experience in project management, network expansion, retail, marketing and cards business along with corporate planning and corporate affairs in the energy sector. Attended workshops related to power sector management and regulations. Qazi Tameez Ahmed, Region 2 MA (Econ), Banking Diploma (DIBP); 26 years of vast banking experience, domestic and internationally as Country Head Liability Marketing & Regional Head Sindh/ Baluchistan. UBL and KASB Banks (He has been with KESC for the last two years, actively involved with in recovery of the old pending arrears / payments.) Amer Zia, Region 3 B.E. & MS(Electrical), M.B.A; 22 years experience in the power sector including 14 years in distribution operations, planning and engineering; 8 years in regulatory affairs of Pakistan; Attended numerous electrical/utility lectures/ programs within and outside Pakistan. Director Consumer Affairs NEPRA. Abdus Sami, Region 4 BE (Communication), MBA; over 14 years of experience in industrial sales, project management and retail network maintenance in the power sector. Part of the Caterpillar Inc USA team for setting up base load and continuous power generation applications in the industrial sector. Instigated over thirty sessions of Transformation Leadership Meetings, reaching over 900 officers. Instigated 35 sessions of transformation leadership management in which 1200 participants participated. There were issues discussed ranging from the current challenges facing KESC from employee perception, stakeholders perception and customers perception. What perception do these individuals have about KESC and how would they rate the organization. A gap analysis was initiated on a scale of one to five on different areas for improvement. Adhocism –no policy procedure and lack of training were the two main improvement areas by employees. CEO held ‘Town Hall’ meetings with top leadership to cascade the new vision. This was held on November 4, 2008 at the Institute of Bankers, where all the general management was present. Over one hundred and twenty participants participated in this event, where the CEO outlined where KESC was currently and what challenges it has to face in its journey to success. The next meeting was conducted at Bin Qasim, where top management of generation officers were invited. This was an open forum of communication for a new vision to the employees.

NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS: (Part-V)

2009-06-01T09:51:00.002-07:00

April 15, 2009: Lifted dependable capacity of KESC units after major overhauls of the Bin Qasim and Korangi plants. Reduced plant trips by 80% in the last seven months. Decreasing trend in transmission and distribution losses. ACCA training programmes have been initiated to boost the skills of financial coordinators. "KESC is an’ Approved ACCA Employer' recognized by the Pakistan Chapter of the Association of chartered certified accountants, UK for providing a platform for vocational training to their students. Under this program we have inducted/will continue inducting large number of ACCA students to impart them professional training under the supervision of highly qualified finance professionals. Through this program KESC will not only benefit by having an energetic and highly motivated workforce but will also be greatly contributing towards the progress of potential finance professional and ultimately the well being of the country.." Introduced Preventive Maintenance Management programmes and Standard Operating Procedure Systems to reduce tripping. Made safety a key goal at CEO level reporting with new and continuous monitoring systems put in place to reduce incident rate. New management of KESC has taken several steps to ensure the safety measures of their employees. The first step was to provide the basic training to all the field employees at their door steps i.e. BOC’s. The personal training protection equipment usage rate has been increased from 2% to 35%. Also a team of 12 people has been formed who visited the working sites 24 /7 to ensure the safety and protection measurements during work. The management has also planned to start mobile training centre. These centres will provide training to employees on weekly basis at their working premises / sites. Improved customer call handling by 21%. An increase of 21% was shown in calls from Mar-Oct’08 as compared to Mar-Oct’07 35% call increase is projected over the period of Mar-Oct’ 09 due to additional influx of new connections and special number for Defence IBC customer Additional head count of 95 CSRs is being inducted to meet the expected rise in customer calls Auto-outbound functionality tested and deployed at Call Center Call response efficiency is consistently improving over last few months Doubled the staff strength of the ‘118’ customer service representation. KESC to facilitate electricity consumers has started One Window Billing Service at 118 Call Center situated at 3rd Floor, E.O.B.I. House (Formerly Awami Markaz) Shahrah-e-Faisal. Consumers may avail services between 9:00am and 10:00pm throughout the week except with a lunch and prayer break from 1:00pm to 2:00pm and Friday prayer break from 1:00pm to 3:00pm except on Sundays and Public Holidays. One window service will be available for KESC customers for: Duplicate Bill printing facility for the entire licensed area of KESC. Billing / Accounts Reconciliation facility Cash Correction facility Advanced payment as desired by the consumer Installment facility for Ordinary Consumers (Residential & Commercial) Registration of Consumer grievances regarding billing issues of Ordinary Consumers (Residential & Commercial) Manager with necessary staff would remain available to facilitate consumers. The bill payment facility is also available from 10:00am to 10:00pm (on all working days) at National Bank of Pakistan, 2nd Floor, E.O.B.I. House. Distribution structured as an independent profit focused business centre. Distribution will be working as an independent business. This independent line will be geographically divided in to four regions; north, south, east and west. Each region will be headed by Deputy Chief Operating Officer (DCCO-Distribution. Each region will be responsible for the functions of all BOCs falling in their area and these BOCs will be lead by respective BOC Managers reporting to General Managers who will eventually report directly to their regional DCOOs. Each region will also act as independent profit centre. This structure will not only help improve the efficiency of our company, it will also give the employees a great opportunity to deliver best services by taking complete charge of their responsibilities.

NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS: (Part-IV)

2009-06-01T09:51:00.001-07:00

April 15, 2009: Their support and goodwill will make this improvement happen and show results quickly”. The refurbished “business centre” is to be managed by a internally-recruited pool of existing KESC’s staff, appointed through a detailed merit-based process and internal job posting from the company’s 17,000-strong employee base. 107 people have been hired from within KESC’s ranks, via a rigorous interview and technical competencies evaluation process. These employees are trained in new service-level processes which are geared toward quicker resolution of customer services-related issues as one key metric. These employees, a number of who feature in an accompanying media campaign, will provide improved wide-ranging service to customers. The Business Centre will cover an array of possible customer needs, including billing issues, from handling customer complaints to collecting payments, reduce distribution losses and improve collection of overdue funds receiving applications & customer feedback. This customer window will be accompanied by operational improvements in the wide Defense locality and will form the basis of a roll-out into a sequence of high population localities in Karachi, eventually embracing the whole city. Within 3-6 months at least three more integrated business units will be launched within different parts of the city. The Business Centre is expected to provide higher revenue collections, a key issue facing KESC and the company believes, will eventually result, according to Mr. Hussain, “in a more favorable public profile for KESC and greater synergies with KESC’s operations and reporting, including with the 118 service”. Opened up new connection process through transparent computerized software. The experience of prospective customer is the most important factor for an organization. The processes needs to be customer friendly, easy and transparent enough to create the trust from the very first interaction. Based on this perspective KESC has recently launched the automated new connection service, where by customer can easily get the forms from our designated 4 centers, download from website or send us an email on newconnection@kesc.com.pk and get the form and information absolutely free of cost. Our trained staff is available from 8:00 am till 8:00 pm to facilitate customers requiring new connection. The automation has given way for customers to get instant service and application number and at the same time availability of trained staff has discouraged illegal agents/contractors. The fee is paid only at KESC approved banks thus making the process more transparent and free of loop holes New power transformers at Korangi Town, RECP, Queens Road, Valika and Haroonbad grid stations have been commissioned. New Transformers Installed and Commissioned at the following Grid Stations Korangi Town Grid Station 30 MVA, 132/11KV Rice Export Corporation of Pakistan 30 MVA, 132/11KV Valika Grid Station 30 MVA ,132/11KV Haroonabad Grid Station 40 MVA ,132/11KV Tested and energized a brand new 250 MVA auto transformer at the KDA grid station. Tested and Energized 250MVA, 220/132 KV Auto-Transformer at KDA Scheme-33 Grid Station. Commissioned, tested and energized a 40 MVA transformer at Haroonabad grid station. New Federal –A 132/11Kv Grid Station energized on Nov 18,2009 .40 MVA power transformer tested and energized Commissioned new 132 KV CBs at Haroonabad, Dhabeji, Uthal and Landhi grid stations. Installation and commissioning of new 132/66Kv circuit Breakers at the following Grid Stations. Haroonabad Dhabeji Uthal Landhi

NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS: (Part-III)

2009-06-01T09:50:00.002-07:00

April 15, 2009: SCADA system going through commissioning tests. SCADA stands for Supervisory Control And Data Acquisition. It generally refers to centralized systems which monitor and control entire sites, or complexes of systems spread out over large areas (anything between an industrial plant and a country). Most control actions are performed automatically by remote terminal units ("RTUs") or by programmable logic controllers ("PLCs"). Host control functions are usually restricted to basic overriding or supervisory level intervention. A SCADA System usually consists of the following subsystems: ? A Human-Machine Interface or HMI is the apparatus which presents process data to a human operator, and through this, the human operator, monitors and controls the process ? A supervisory (computer) system, gathering (acquiring) data on the process and sending commands (control) to the process ? Remote Terminal Units (RTUs) connecting to sensors in the process, converting sensor signals to digital data and sending digital data to the supervisory system ? Programmable Logic Controller (PLCs) used as field devices because they are more economical, versatile, flexible, and configurable than special-purpose RTUs ? Communication infrastructure connecting the supervisory system to the Remote Terminal Units. Automatic/smart metering to come online in April 2009. Metering is the most effective and fundamental protection against the institutionalized theft which is deeply prevalent within Karachi. Faulty and tampered metering is being addressed as a key priority with new process mapping for faulty metering, replacement with new meters and maintenance of an active central database for metering. Ultimately. The key focus is to develop a long-term strategy to combat hook theft, implement long term cohesive plan to counter meter theft, use of AMR and deploying ABC Cables for overhead mains and service connection. The end result being accurate meters system wide and educating the public against impression that KESC installs “fast” meters. Ninety-eight 11KV feeders have been erected, commissioned and energized. 323 PMTs installed. In order to relieve the existing overloaded feeders and to have network flexibility for transfer load in case of faults 55 new feeders from existing grids and 43 from 3 new grids have been laid and energized. This will not only bring system stability, but also reduce technical losses due to overloading and long length of existing feeders. Till June another 27 feeders from 2 new grids (Airport II and Memon Goth)and 31 feeders from existing grids have been planned to be laid and energized. To remove the overloading of existing distribution transformers 323 new transformers have been installed and energized. This has improved the voltage profile in those areas and also reduced the technical losses caused due to overloading of transformers and long length of Low Tension overhead distribution lines. 200 MVA of grid transformers added to the system. We have instituted year-round preventive maintenance vs. only winter, the norm. Installation of safety equipment at grid stations and overall, replacement of feeders and grid transformers to ensure the system losses, including those related to weather are minimized. Integrated Business Centre launched a one-window service solution for customers. KESC embarks on an ‘Integrated Business Centre’ drive from 8th April to be pilot-tested in the demographically diverse locality of Defence. This covers 80,000 consumers and covers low-income localities including Gizri, Akhtar Colony, Quyumabad, T&T Colony, Hazara Colony and various others, wide reach being a key focus for the new programme. Operationally, four BOCs in Defence are merged into a single-unit, refurbished Integrated Business Centre (IBC), a new interface between KESC and its customers. Rashid Hussain, newly appointed General Manager of the Defence IBC, created under the KESC “Umeed Zone” banner and located for the pilot at 13th Commercial Street, Phase II in the midst of Defence's Commercial Area, says, “The key partner for success of these business centre’s are our customers.

NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS: (Part-I)

2009-06-01T09:50:00.001-07:00

April 15, 2009: NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS: SEPTEMBER 08 - APRIL 09 Commitment of a multi-million dollar investment from new shareholders to be injected into KESC. Abraaj Capital is the premier private equity firm in the Middle East North Africa and South Asian (MENASA) region. Since its inception, the firm has played a key role in pioneering the private equity discipline in its chosen region and is generally regarded as both the largest and most globally respected player in its field and region (for further details visit www.abraaj.com). Abraaj currently has over US$7.5 billion of funds under management, typically through private equity buyouts and strategic minority block positions in companies, like KESC, that form the backbone of industrial and commercial activity in their chosen markets. Abraaj was approached in February 2008 to take a view as to both coming into KESC as a strategic investor in the business, as well as taking full management rights. It conducted a detailed due diligence process and found deep-rooted systemic weakness in the company’s operations, financial viability and culture, including a highly-eroded infrastructure and a clear public perception that KESC was ultimately failing itself and failing Karachi. Abraaj recognized that capital alone would nor resolve KESC’s issues and that the core challlenge facing KESC was one of a dysfunctional culture, compounded by weak management, a business whose issues could only be resolved through the decisive execution of a radical turnaround plan embracing all aspects of KESC’s underlying weaknesses. Abraaj agreed to match the incumbent shareholders’ equity of US$360 million and on 14th April 2009, KESC announced that it had secured an amendment to the Implementation Agreement (IA) between the company and the Government of Pakistan, through which the future of KESC could be secured through the introduction of substantial new capital from Abraaj. In the interim, starting in September 2008, over 40 new senior managers were introduced into the business to begin the process of turning the company around. Those first seven months form the basis of the deliverables outlined in the KESC “Scorecard” public accountability programme. Successfully negotiated an 180 MW plant deal with GE. Construction underway and plant to be online by September 2009. KESC has signed a Supply and Services Contract for a ‘Fast Track Power Plant Project’ of approximately 180 MW at KGTPS & SGTPS, replacing existing near obsolete turbines. The first phase of generation, adding 90 MW to the city’s grid, will be completed by mid-2009 and the remaining generation upgrade will follow shortly after. This addition comes as part of the continuing initiative by KESC to ensure self-reliance in meeting the city’s power needs, essentially increasing capacity to minimize power shortages in the city. The addition of 180 MW power through GE follows the addition of 96 MW at Korangi Thermal and 50 MW of rental power. The obsolescence of KESC’s existing plant is clear, given even the most basic measures. The average age of existing units is 27 years and 13 out of 19 units had exceeded their intended life cycle at the time that new management got engaged in the business. COD Installed Capacity Net Capacity Efficiency Bin Qasim 1983-97 1,260.0 1120.0 31.0% Korangi Thermal 1965-77 382.0 165.0 23.0% Korangi Town Gas 1978 80.0 72.0 19.4% SITE Gas 1979-80 100.0 72.0 20.5% Total 1822.0 1429.0

NEW MANAGEMENT ACHIEVEMENTS IN SEVEN MONTHS: (Part-II)

2009-06-01T09:49:00.002-07:00

April 15, 2009: Commissioned 50 MW of rental power from Aggreko. Given the significant shortfalls between demand and supply in Karachi, new management immediately began the process of resolving supply shortfall by installing temporary capacity in the KESC grid, through agreement with Aggreko plc in September 2008. Aggreko plc is the global leader in the rental of power generation and temperature control equipment and serves a wide range of industries, with over 133 locations in more than 100 countries. The company achieved a turnover of UK£946M in the year till December 2008 and has proven to be an ideal partner for KESC in its goal to establish long-term partnership with significant global players. KESC has now started commercial operations of 50 MW rental power project for the city of Karachi as a result of the Aggreko project from April 2009 onwards. The project has been completed in less than six months from its public announcement in September 2008, and provides additional capacity to Karachi’s grid, aimed at providing relief to the consumers. The project, which marks the fastest ever addition of capacity to Karachi’s power grid, was completed in two phases of 25 MW each. Installations have been made at two strategic sites of the city, with the current addition having been made in the West Wharf Industrial area while the initial 25 MW had been added at Haroonabad site. New projects of 220 MW being commissioned to bridge the demand/supply gap and 560 MW Bin Qasim II project is now officially underway. When new management came aboard, they inherited two new generation projects: one of 220 MW and the 560 MW project at Bin Qasim Power Station. Both projects faced significant and severe delay, given evidence about the quality of their management to date. On the 220 MW project, a team of power and construction specialists have led a fairly dramatic project turnaround and successfully (by January 2009) commissioned two of the four gas turbines, delivering 90 MW already. The remaining two gas turbines are commissioned also and KESC has worked with METKA (www.metka.gr). In the Energy sector METKA has built on its considerable background in construction and manufacturing of equipment for power generation plants, to become a specialized EPC Contractor with capability in turnkey delivery of energy production projects. Ultimately, with a proper maintenance schedule, the 220 MW plant will be functional for around 25 years in the future. With the 560 MW project, new management inherited a project where negotiations with EPC contractors had come to a dead-end and necessitated complete renegotiation of the key deal parameters. The contract has subsequently been approved by KESC’s lenders. This project has significant potential to play a key part in the future success of KESC. Commissioned three new 132 KV grid stations at Korangi South, PRL and Gulshan-e-Maymar. KESC announced the commission and running of two Hybrid grid stations in the month of March, at Pakistan Refinery Limited and Gulshan e Maymar, keeping in line with its commitment to modernizing its transmission network, strengthening the power grid of Karachi and ensuring uniform power supply to the citizens. These two grid station are the next step are towards building a better supply of electricity to the city of Karachi. On schedule for commissioning five additional 132 KV grid stations this year. Airport II 30.04.2009 Jail Road Grid erection work is in progress Memon Goth 30.06.2009 Azizabad 01.10.2009 Mehmoodabad (formerly FTC) Design in process

KESC implements best corporate Ethics and Business Practices

2009-06-01T09:49:00.001-07:00

May 7, 2009: KESC’s management has announced the implementation of a code of ‘Ethics and Business Practices’, applicable to all its employees, and aimed at beginning the first stage in a process of cleaning out corruption due to irregular employee practice and ensuring the highest level of ethical standards prevail in the behaviour of KESC 17,000-strong employee base. The ‘Statement of Ethical & Business Practices (SEBP)’, already signed-up to by KESC’s top management in a ceremony this week, is comparable to practices applicable across leading Global organizations. The document is intended to assist KESC's employees in meeting standards of professional and personal integrity, in order to protect and safeguard the reputation of the Company. With the SEBP, KESC has set the highest levels of expectations from all employees, with contravention of the SEBP to be regarded as misconduct and even punishable by termination. The SEBP provides a whole-rounded code for employee behaviour, with guidelines for areas such as Conflict of Interest, Confidentiality, Health & Safety, Environment and Harassment, amongst others. Employees are even encouraged to report on their own transgressions, with concessions guaranteed for employees who come forward to acknowledge personal violations. Elaborating on the implementation of the SEBP, Naveed Ismail, CEO KESC, has said “Professional and personal integrity is the backbone of any company's conduct - both internally and externally. That integrity must start at the top and be driven ruthlessly down the chain and into how we deal with customers. We know corruption and integrity has been a longstanding issue at KESC and we need to admit it, confront it and deal with it by setting new standards. Only then can we expect customers to treat us with courtesy and due respect". ------------------------------------------------------------------------------------------------------- For Further Details, please contact: KESC Corporate Communication Syed Faraz Ahmed, Media Manager at 0301 828 6193 Email: cc@kesc.com.pk

“KESC’s Donation to the Displaced People of SWAT”

2009-06-01T09:48:00.001-07:00

May 16, 2009: As part of a long-term commitment to social responsibility, alongside its long-term uninterrupted power goals, Karachi Electric Supply Company (KESC) has announced a voluntary donation programme by all its officers, to support the human relief efforts in Swat. This donation amount will go this weekend to the Edhi Welfare Society. Ehdi will use this money to help and the displaced people of SWAT on an urgent basis. On this occasion Naveed Ismail CEO said, “This is a small contribution to help and support our fellow countrymen and if this gesture encourages our fellow corporate to join hands in this effort, then we will have accomplished some good. We will carry out similar welfare programmes for the people of Karachi very soon”. -----------------------------------------------ENDS---------------------------------------------------- Ahmed Faraz Manager Media Karachi Electric Supply Company Limited UAN: (+9221) 920 5100 - 5 Dir: (+92301) 8286193 Email: ahmed.faraz@kesc.com.pk

KESC Kicks Off Implementation on 560MW New Generation Plant For Karachi

2009-06-01T09:47:00.000-07:00

May 20, 2009: KESC is set to aggressively deliver on its commitment to improve electricity supply for the people of Karachi, by increasing its internal generation capacity with the addition of a 560 Mw power plant, obtained from GE. The contract for a 560 MW of dual-fired combined cycle plant at Bin Qasim was initially signed in June 2008. Following new management’s takeover at KESC, the price was successfully re-negotiated bringing the original prices down by US$15 million. The reduced package price, of US $378 million will produce power at US$ 675 per MW. This makes the project one of the most economical combined-cycle projects in Pakistan, compared to projects being constructed using the same technology and projecting prices of US$ 800 or more per MW. Keeping in mind the need for dependable solutions for Karachi’s electricity grid, KESC has selected the proven technology of GE’s 9E Frame Gas Turbines, manufactured in France, as well as including a Steam Turbine to provide a Combined Cycle Power Plant. M/s Harbin of China has been selected to perform Project Works and Plant Commissioning, with an advance payment of USD 56.6 million. The project is to be built under a fixed price formula, and will follow World Bank guidelines to ensure environmentally-friendly guidelines are met. The plant is to be completed in four (4) phases, with the first GT expected to be online within 24 months (May 2011), and the second and third GTs to be commissioned in June and July 2011 respectively. The Steam Turbine will be commissioned by January 2012, thereby achieving total capacity of approximately 500 MW connected to the 220 kV network through GIS. KESC CEO Naveed Ismail has said, “We are moving as quickly as possible to install additional power generation capacity to meet the critical needs of Karachi’s business and residential sectors. KESC has selected GE technology because they have a proven track record in Pakistan and the technology can be installed very quickly. Furthermore, GE also has the manufacturing capacity to meet our needs for such a large number of engines in a very short period of time. We are confident that this project will go a long way towards helping KESC improve grid service to support economic growth in the city, which is of vital interest to the entire country.” The addition of this power project will take KESC a key step closer towards self reliance in power generation to meet Karachi’s long-term needs. In addition to reducing load-shedding as an immediate priority, KESC’s efforts are aimed at providing the best value for its shareholder and consumer money. KESC’s management is fully committed to change the face of the company through positive results. This current addition is a culmination of an extensive effort to provide power solutions that are most competitive on a per Megawatt basis. ------------------------------------------------------------------------------------------------------- For Further Details, please contact: KESC Corporate Communication Syed Faraz Ahmed, Media Manager at 0301 828 6193 Email: cc@kesc.com.pk

KESC partners with EPCL and IIL under Captive Power Policy

2009-06-01T09:45:00.002-07:00

May 22, 2009: As part of the continued efforts to provide maximum relief to its consumers, KESC is moving ahead with introducing short term and long term solution that could benefit Karachi. Apart from adding permanent power and rental power to its grid, KESC also launched a Captive Power Policy lately to utilize the excessive available power capacity of industrial units. This program has created interest among Captive Power Producers & quite a few are advancing to finalization. The first company to join this programme was Engro Polymer & Chemical Ltd (EPCL), which signed an agreement with KESC recently to supply 18 MW to KESC by mid-year 2009. This was yet another break through that was carried forward by a second agreement signing between International Industries Limited (IIL) and KESC. According to this contract, IIL will supply 4 MW to KESC within the next two weeks. Naveed Ismail CEO KESC says, “Industrial partnership is a critical short and medium-term solution to Karachi’s energy challenges and a key part of how KESC now works. We are very committed to a strategy that balances our supply requirements to KESC’s cost of delivery. We will be announcing a series of arrangements like these and partnering with Engro and IIL is a powerful place to start”. ------------------------------------------------------------------------------------------------------- For Further Details, please contact: KESC Corporate Communication Syed Faraz Ahmed, Media Manager at 0301 828 6193 Email: cc@kesc.com.pk

KESC increases generation capacity by 560MW

2009-06-01T09:45:00.001-07:00

KARACHI: KESC is set to aggressively deliver on its commitment to improve electricity supply for the people of Karachi, by increasing its internal generation capacity with the addition of a 560MW power plant, obtained from GE.

The contract for a 560MW of dual-fired combined cycle plant at Bin Qasim was initially signed in June 2008. Following new management’s takeover at KESC, the price was successfully re-negotiated bringing the original prices down by $15 million. The reduced package price, of $378 million will produce power at $675 perMW. This makes the project one of the most economical combined-cycle projects in Pakistan, compared to projects being constructed using the same technology and projecting prices of $800 or more per MW.

Keeping in mind the need for dependable solutions for Karachi’s electricity grid, KESC has selected the proven technology of GE’s 9E Frame Gas Turbines, manufactured in France, as well as including a Steam Turbine to provide a Combined Cycle Power Plant. M/s Harbin of China has been selected to perform Project Works and Plant Commissioning, with an advance payment of $56.6 million. The project is to be built under a fixed price formula, and will follow World Bank guidelines to ensure environmentally-friendly guidelines are met.

The plant is to be completed in four phases, with the first GT expected to be online within 24 months (May 2011), and the second and third GTs to be commissioned in June and July 2011 respectively. The Steam Turbine will be commissioned by January 2012, thereby achieving total capacity of approximately 500 MW connected to the 220 kV network through GIS.

Naveed Ismail, CEO, KESC has said that, “We are moving as quickly as possible to install additional power generation capacity to meet the critical needs of Karachi’s business and residential sectors. KESC has selected GE technology because they have a proven track record in Pakistan and the technology can be installed very quickly.”

Furthermore, GE also has the manufacturing capacity to meet our needs for succeeds for such a large number of engines in a very short period of time. We are confident that this project will go a long way towards helping KESC improve grid service to support economic growth in the city, which is of vital interest to the entire country.”

The addition of this power project will take KESC a key step closer towards self-reliance in power generation to meet Karachi’s long-term needs. In addition to reducing load-shedding as an immediate priority, KESC’s efforts are aimed at providing the best value for its shareholder and consumer money. KESC’s management is fully committed to change the face of the company through positive results. This current addition is a culmination of an extensive effort to provide power solutions that are most competitive on a per MW basis. staff report

No let-up in outages as KESC saves on fuel

2009-06-01T09:44:00.001-07:00

The KESC’s private management decided not to spend funds on purchasing furnace oil to augment its current (and dangerously low) power generation levels, leaving citizens to spend yet another day with, in some cases, more than 10 hours without electricity on Monday, Dawn reported.

Many areas of the city remained in the dark as the utility failed to take measures to remove faults created by the tripping of overloaded feeders. Others underwent multiple rounds of announced and unannounced load-shedding.

Consumers complained of indifference on the part of the utility and expressed anger at the fluctuation in supply causing faults in household electronic equipment such as televisions and computers. The breaks in supply have led, in some cases, to the loss of crucial digital data on computer systems at businesses and homes.

The areas worst hit by outages on Monday include Malir, Landhi, Korangi, Orangi, North Nazimabad, North Karachi, Lyari, Keamari and parts of Defence and Clifton. The situation in Gulshan-i-Iqbal (especially in Block 4-A), parts of Gulistan-i-Jauhar, Safoora Goth, and Federal B Area is also dire.

When contacted, the KESC spokesperson blamed under-frequency on Wapda’s end for knocking out KESC’s system. But sources at Wapda refuted the KESC’s allegations, claiming that power was being supplied at the correct frequency. They asserted that Wapda’s supply to KESC was oscillating between 600MW and 720MW. The sources clarified that the KESC received 495MW at just one point, and that Wapda monitors supply to the KESC every 15 minutes. Sources indicate that the KESC received 610MW from Wapda as of 2.15pm.

The problem also lies with the KESC’s generating capacity. While the Bin Qasim Power Plant has an installed capacity of 1,260MW, on Monday it generated just 410MW. Unit I was shut down, while units III and IV were not operational due to a lack of funds for fuel. Unit II generated 70MW, unit V 190MW and unit VI 150MW. The management of the KESC has not pumped any funds into the company in order to purchase furnace oil for the non-operational units.

The KESC’s spokesperson claims that the utility is facing a shortfall of 200MW, but insiders put the deficit at 500MW.

Sources at the KESC maintain that the KESC management has not only refused to use its own funds to operate the generation plants, it has also failed to act on the recommendations of a technical committee constituted by the previous government. They said the new management is responsible for the declining generation because it is evident that heat rates and unit-wise capacities have deteriorated considerably in recent months.

Technical committee findings

The sources added that the new management cannot blame the old for these issues, as Abaraj had been covertly managing the KESC’s affairs while Aljomaih was in charge.

According to the technical committee’s report, during year 2006 the gross heat rate (BTU/kWh, a measure of efficiency, with a higher number signalling greater inefficiency) of unit IV of the Bin Qasim plant went as high as 12,072, against a designed heat rate of 9,058. The gross heat rate of unit IV of KTPS was as high as 14,257 against a designed heat rate of 9,400. Similarly, the heat rate of unit II of SITE GTPS was observed as being 16,805 against a designed heat rate of 14,465. The technical committee had observed that these figures show that the performance of the plants is not satisfactory.

The ratio of forced shutdowns was also too high compared to those of planned shut downs. The committee had also noted that the major overhauling at units I, II, III, IV and V of Bin Qasim was carried out after 15years from the date of its commercial operation. Similarly, the major overhauling of the turbo generator and boiler modification work of oil firing at unit III of KTPS was carried out after 13 years of its commissioning. It noted that predicted maintenance/major overhauling is not being carried out when it should be.

It may be pointed out that according to the official findings of the technical committee on the KESC, the utility ‘sustained tremendous financial losses besides customers’ annoyance on account of unnecessary breakdowns of supply and damaging of grid stations/transformers etc; merely due to poor maintenance and lack of knowledge.’

Meanwhile, the business community has declared that a 22 per cent increase in tariffs is not acceptable. During an emergency meeting of the Karachi Chamber of Commerce and Industry (KCCI), businessmen demanded that the government immediately do away with the ‘slab system’ on commercial tariffs.

KARACHI: KESC yet to announce load-shedding schedule

2009-06-01T09:43:00.001-07:00

By Our Reporter
KARACHI, Jan 6: Despite the government’s directives to bring an end to unannounced load-shedding, the Karachi Electricity Supply Company’s management has not yet issued a load-shedding schedule. While the KESC did increase generation on Tuesday, consumers still experienced at least three cycles of load-shedding, each lasting an hour or more.

According to KESC spokesperson Ayesha Eirabie, the utility was 60MW short on Tuesday, when demand stood at 1,410MW. She did not mention, however, how much power was being supplied by Wapda, and how much was generated by the Bin Qasim power plant and KTPS. Three units of the Bin Qasim plant remained shut on Tuesday.

Sources indicate that the government compelled the KESC to increase its own generation. On Tuesday, supply from the Bin Qasim plant oscillated between 775MW and 450MW. Two units were kept idle in order to save on fuel costs, while one was shut down for maintenance. The increase in the KESC’s generation capacity illustrates that the utility had the ability to produce more power, but had not been doing so.

The KESC had saved on fuel costs by not purchasing furnace oil, and instead relying mostly on gas supplies. Many KESC consumers from across the city complained that their complaints of long outages were not being attended to, and that the KESC would only tell them that the outages were due to “tripping in the system”.

Residents from Nazimabad and North Nazimabad complained of power outages lasting more than an hour at least thrice on Tuesday, while supply to the entire West Zone remained disturbed. Residents of Gulshan-i-Iqbal and Gulistan-i-Jauhar, Shah Faisal and parts of Lyari also experienced unannounced power outages. Until the filing of this report, many areas remained in darkness, causing great inconvenience to those attending majalis in connection with Ashura-i-Muharram.

Meanwhile, Kanupp is still off line, while the DHA Cogen is also out of order. Kanupp had tripped on January 1, just three days after its operations were resumed after a KESC transmission line fault. The facility is expected to be back on line within the next 24 hours, providing up to 85MW to the KESC network.

Well placed sources say that if the KESC operates its generating plants efficiently, and procures power from the two dedicated IPPs, it will be able to meet the power demands of the city without getting power from Wapda. Wapda is currently supplying about 500MW to the KESC under government directives. If the KESC were to generate to capacity, that power would be available on the national grid to be diverted elsewhere.

Meanwhile, the KESC has announced an extension in the due date for bills previously due on Jan 8. As Ashura is falling on this date, those bills are now due on Jan 10. Consumers may deposit bills by that date without any late payment surcharge.

KARACHI: KESC generation capacity ‘not to increase before 2011’

2009-06-01T09:42:00.000-07:00

KARACHI, May 20: With public outrage at the KESC’s load-shedding in the city spilling onto the streets in many localities, and the provincial administration’s decision taking serious notice of continuing power outages, the utility’s Abaraj-led private management has now acknowledged that there is no possibility of increased generation capacity until the middle of 2011 or early 2012.

As a result, load-shedding will not end by the end of this year, as promised by Federal Minister for Water and Power Raja Pervaiz Ashraf. The management’s assurance to the Sindh governor, extended earlier, to improve generation within a week also stands nullified.

The utility has issued an official statement presenting a 560MW power project at the Bin Qasim Power Station, which was planned long ago, as a fresh initiative for improving generation capacity. Analysts say the move was made in an attempt to pacify public outrage and deflect government pressure on the issue of the power crisis.

On a day when the utility was facing a shortfall of about 400MW in meeting the demand for 2,200MW, the KESC management claimed it was “set to aggressively deliver on its commitment to improve electricity supply for the people of Karachi, by increasing its internal generation capacity with the addition of a 560MW power plant, obtained from GE”.

It said that a contract for a 560MW dual-fired combined-cycle plant at Bin Qasim was initially signed in June 2008. Following the new management’s takeover at the KESC, the price was “successfully re-negotiated”, bringing the original price down by $15 million.

The reduced package price of $378 million will produce power at $675 per MW, claimed the KESC management, adding that it makes the project “one of the most economical combined-cycle projects in Pakistan, compared to projects being constructed using the same technology and projected prices of $800 or more per MW”.

Interestingly, the project has also been cited in the 2008 annual report and quarterly report for July-September, Oct–Dec 2008 and Jan-March 2009 but there is no mention of any renegotiation of the deal as a result of which $15 million was saved by the utility. Insiders maintained the cost was brought down on certain conditions, but the management has not mentioned anything regarding such conditions.

The utility’s management claimed that keeping in mind the “need for dependable solutions for Karachi’s electricity grid, the KESC has selected the proven technology of GE’s 9E Frame Gas Turbines, manufactured in France, as well as including a Steam Turbine to provide a Combined Cycle Power Plant. M/s Harbin of China has been selected to perform Project Works and Plant Commissioning, with an advance payment of $56.6 million”.

Despite the passage of one year, however, work on the project has not yet begun, apparently because the management has not provided the contractors with the ‘mobilisation amount’.

The project is to be built under a fixed price formula, and will follow World Bank guidelines to ensure environmentally-friendly policies are followed.

The plant is to be completed in four phases, with the first gas turbine expected to be online within 24 months (May 2011), and the second and third gas turbines to be commissioned in June and July 2011 respectively. The steam turbine will be commissioned by January 2012, thereby achieving a total capacity of approximately 500MW connected to the 220kV network through GIS.

KESC CEO Naveed Ismail has said, “We are moving as quickly as possible to install additional power generation capacity to meet the critical needs of Karachi’s business and residential sectors. The KESC has selected GE technology because they have a proven track record in Pakistan and the technology can be installed very quickly. Furthermore, GE also has the manufacturing capacity to meet our needs for such a large number of engines in a very short period of time. We are confident that this project will go a long way towards helping KESC improve grid service to support economic growth in the city, which is of vital interest to the entire country.”

“The addition of this power project will take the KESC a step closer towards self reliance in power generation to meet Karachi’s long-term needs,” the utility’s CEO maintained, without mentioning the problems faced by people and the losses to business and industry.

Though he claimed that reducing load-shedding was an immediate priority, he added the KESC’s efforts are aimed at providing the best value for its shareholders’ and consumers’ money.

PPP sends KESC’s performance report to Zardari

2009-06-01T09:41:00.000-07:00

Karachi

President Asif Ali Zardari has reportedly taken serious note of continued power breakdowns in Karachi and a team of senior Pakistan People’s Party (PPP) leaders has sent a detailed report to him regarding the power crises in the city, sources told The News.

They said that the PPP leadership had complained to the President during his recent visit to Karachi about the fact that citizens were facing the worst kind of power crisis and the management of the Karachi Electric Supply Corporation (KESC) had miserably failed to overcome it. The president was reportedly informed that the KESC management had misguided the government by saying that the reason for the power crisis was owing to technical faults in the distribution system.

President Zardari was informed that the Sindh Assembly speaker and some other party ministers had visited the head office of the KESC but no high-up from the management was present in the main office and the KESC authorities were not bothered to give satisfactory answers to elected representatives.

After the complaint and media reports about the power crisis, the president had sought a detailed report from party leaders. Sources said it was said in the report that the power crisis was not technical and instead the KESC management was trying to force and pressure the government to provide it the company with electricity from Wapda rather than generating the electricity from the Bin Qasim Unit.

The report said that the power crisis in the city was ‘artificial’ just to get more electricity from Wapda on subsidised rates. It further said that the KESC had shut down three major power generating units at Bin Qasim, citing technical faults.

Any fault which required rectification in the generating unit could not take more than a week, even if parts were imported, the report said, adding that the KESC had been claiming for more than two weeks that three power generating units of Bin Qasim were out of order.

The party report claimed that in fact the KESC had shut its three units deliberately just to save its profit as these three units were run on furnace oil, while three other units of Bin Qasim power plant use gas to generate electricity and the Sui Southern Gas Company was providing gas to the KESC.

The capacity of each KESC unit to generate electricity was 200MW and after shutting of three units, the shortfall of the electricity has touched 600MW.

According to the report, the Wapda was providing 600MW electricity to the KESC at a rate of Rs3.70 per unit while the cost of electricity generation from furnace oil was Rs12.70 and the KESC wanted to build pressure on the government to provide further 600MW from the Wapda just to save billions of rupees profit.

The report pointed out that the company which took over the control of the KESC was running the business from its private office in a non-professional style and they wanted to adopt tactics to blackmail the elected government.

The report further stated that there were power riots in the city due to the hot weather and this crisis would defame the government and create a law and order situation. The party has requested President Zardari to direct the minister concerned to investigate the matter first and take action against those responsible.

80MW power supply to Kesc from Kanupp restored

2009-06-01T09:15:00.000-07:00

KARACHI: Karachi nuclear power plant (Kanupp) has restored 80 Megawatt of electricity supply to Karachi Electric Supply Company (Kesc), yet the load shedding even in the night continuing, much to the distress of the citizens here.

Kesc 80MW of power from Kanupp has been restored, while Bin Qasim Power Plant’s unit #3 has also started generation, whereas unit #4 still remained closed. Kesc sources said that the company was receiving 600MW from Bin Qasim Power Plant, 150MW from Korangi Thermal Power Plant, 250MW from private powerhouses and 600MW from Wapda, while the current power demand in the city aggregate to 2100MW.

Protracted unannounced load shedding in the city for 3/4 hours very frequently piling miseries on the people, while there appears no respite in sight in the near future.

KESC will meet fully the power demand in Karachi

2009-06-01T09:14:00.000-07:00

Q. What are the New Projects likely to be commissioned in 1993-94?

A. On Generation side there is no project scheduled to be commissioned in 1993-94. On Transmission side remaining projects of U.K. grant will be commissioned i.e. Jacob Lines and Clifton Grid Stations. Transmission lines for Jacob lines Grid Station from Gizri Grid Station and Transmission lines for Clifton Grid Station.

Q. What are the Power projections for 1993-94? How will you meet the targets?

A. For 1993-94, the demand forecasted is 1447 MW. The present capacity is 1738 MW. In case of break-down of any unit there will be a problem in achieving the target.

Q. What steps have you to increase efficiency of KESC various operations?

A. KESC is following an ambitious programme to upgrade/renovate its transmission system under different plans, the distribution system is also being taken care of by utilising KESC's own resources as well as funding from Asian Development Bank, EXIM Bank of Japan. These steps would help in increasing the efficiency of various operations in KESC.

Q. What is the Installed and generating capacity of electricity?

A. Installed capacity of KESC is 1738 MW, while the Generating capability is 1550 MW.

Q. What are the On-going generating projects?

A. KESC is working on 210 MW Bin Qasim Unit No. 6 project. This is the only on-going Generation project at present. During the first nine months of the current year Power Stations of KESC generated 5636758 MWH. Auxiliary consumption during the same period was 6.78%. KESC imported 662334 MWH from KANUPP, PAKSTEEL & WAPDA. The overall efficiency of the plants was 31.90%.

Q. Will you comment on the Transmission and Distribution system of KESC?

A. KESC maintains a transmission system comprising of 220 KV, 132 KV & 66 KV lines. There is a link between KESC and WAPDA through 220 & 132 KV lines. The Transmission system as on 30th June 1992 comprises of 169 KM of 220 KV Overhead, 556 circuit KM of 132 KV Overhead, 6 KM of 132 KV Underground lines. The number of Grid Stations is thirty (30) with a transformation capacity of 1890 MVA. During the current year 5 New Grid Stations have been energized thereby increasing the transformation capacity by 180 MVA. Furthermore in the existing grid stations a capacity of 50 MVA have been added. Karachi is fed through 11 KV Overhead and Underground cables and 400 Volts distribution lines. Total number of Consumers is around 1.2 millions.

Q. What is the Annual Development Plan of KESC?

A. The provisional Amount for the plan for 1993-94 is as follows:-

                                  (Million in Rs.)

                                          1993-94
1. Generation                                 1142
2. Transmission Line                           336
3. Grid Stations                              2202
4. Distribution System                        1500
5. Others                                      105

TOTAL:-                                       5285

Q. Have you utilised all the funds allocated in the Seventh Plan?

A. The allocation for the Seventh Five Year Plan and the Actual expenditure for the first four years of the planned period is as follows:-

                                  (Million in Rs.)

Allocation for Seventh Plan:              13796.82
Total expenditure for first:              14614.52
Four Years

Q. Have you attained the targets of the Seventh Plan?

A. During the current Seventh Five Year Plan KESC has achieved the physical targets by adding 3 unit of 210 MW each at Bin Qasim Power Stations? KESC is not covered under the Annual Development Plan (ADP) of the Government of Pakistan. KESC formulates its own plans accordingly.

Q. Whether your power rates differ from WAPDA's?

A. Power Tariff is uniform throughout the Country depending on the type of Customers that is Residential, Commercial, Industrial, Agriculture etc.

Q. How do you acquire Machinery and Equipment for Power Projects?

A. Power Plant machinery/equipment is supplied by leading manufacturers from the developed countries. The Plant is supplied on packaged basis, wherein the complete plant is imported. Manufacturer having Licensing Agreement with local Industries do include locally made equipments in their overall package. KESC has availed the local manufacturing facilities supplied by Heavy Mechanical Complex of Taxila in case of Boiler of Unit No. 3 & 4 of Bin Qasim Power Station.

Q. What is the load growth in KESC?

A. The load growth in KESC Licensed Area is 8 to 10% per annum. In order to meet the anticipated growth, KESC should be provided all the facilities to expand its per cent generating capacity. In fact we need a crash programme to install units of 300 to 350 MW, only then we will be able to cope with the situation of rising demand. KESC should pursue its own generation development programmes independent of private sector projects. This programme can be revised periodically to accommodate the committed private sector projects. The immediate cause of concern for KESC is the delay in the approval of West Wharf Thermal Power Station. We need this project as its commissioning would result in voltage improvement, system stability and decrease in Transmission Losses KESC is the owner of the existing plant and it would not be possible for KESC to vacate its premises. The proposed plant at West Wharf should be given to KESC rather than to any private organization as that would generate legal, operational and coordination problems.

Gas fuels 5 units of Bin Qasim

2009-06-01T09:13:00.000-07:00

By: Saadia Qamar | Published: July 29, 2008

KARACHI - Five out of six power units of Bin Qasim power plant have been running on gas, The Nation has learnt here on Monday. This leads to low pressure of gas and also the reduction of about 200 megawatts from the total of 800MW electricity generation of power plant.
Sources on condition of anonymity told The Nation that as there was an increase in oil price hike, the KESC cut the fuel production set-up and charged five units of the power plant on gas. Only one unit is currently running on fuel. Moreover Sui gas has been not able to meet the electricity and gas crisis at the Bin Qasim power plant.
More importantly, the electricity crisis which have gripped the City has assumed greater proportions, with the shortage of 400-450 megawatts of power supply to the City. The metropolis is currently needed 2450 megawatts of electricity. Loadshedding continues unabated with maximum leads to six hours of supply cut three times a day on rotational basis.
There were reports of electricity shortage in Malir, Landi, Orangi and Korangi areas and closer vicinities even suffered tremendously. Loadshedding was even reported in Gulshan, FB Area, North Karachi and North Nazimabad.
Many residents so forth believes that power crisis occurred in slums more often and for a limited period in posh localities.

KARACHI: KESC generation capacity ‘not to increase before 2011’

2009-06-01T09:12:00.001-07:00

Work on Bin Qasim plant not started yet: Rs 27 billion World Bank money not used by KESC in 10 months

2009-06-01T09:11:00.001-07:00

GHULAM ABBAS KARACHI (May 23 2009): The Karachi Electric Supply Company (KESC) has not yet used Rs 27 billion sanctioned by the World Bank (WB) for its 560 MW Bin Qasim power plant project. The KESC management has spent Rs 8 billion, a huge amount which the utility had loaned from a local banking consortium last year as mobilisation charges for Bin Qasim power plant project, on account of day to day expenses.

According to sources the amount was not be released by WB as the utility had not started work on the project during the last 10 months despite signing an agreement with a Chinese company in June 2008. As the company failed to pay Rs 8 billion of mobilisation charges (advance money) to the foreign firm, the Chinese company did not start the work at the given time, they said.

Though the contract for a 560 MW of dual-fired combined cycle plant at Bin Qasim was initially signed by the previous management of the company and also made other required arrangements, the present management did nothing during last 10 months but spending on daily expenses the already arranged money, they added.

Sources said that Al-Jomaiah, previous management of KESC, had also vacated the site and road for the proposed power plant, and even made arrangements to host around 400 Chinese engineers and other staff but all such things remained as it was on take-over by the company by Abraaj Capital, the present management, in August 2008.

They said that the company's management is not interested in investing in the company as it could have started working on the important project if it was sincere, in its management for the last 10 months. The three years tenure of the project was to start power generation in 2010 but due to the negligence of the company the project seems unlikely to be completed even by 2012.

Talking to Business Recorder, Mazhar Choudary, general secretary of KESC Share Holders Association (SHA), said that the new management's claim of bringing the original prices of the project down by $15 million recently was only a delaying tactic as it has done nothing practically. "No one knows how and on what condition the price was reduced," he said, adding that if the agreed price for the project was high, then it should have done the same earlier.

He also claimed that despite the agreement with government the present management of the company has not invested a single penny from its agreed money of $361 million. However, when contacted the official spokesman of KESC said the company has recently paid the mobilisation charges to the vendors and the work on the project would be started soon.

Nairobi Stock Exchange Kenya

2009-05-18T08:47:00.001-07:00

The Nairobi Stock Exchange in Kenya.

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2009-05-18T08:46:00.003-07:00

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2009-05-18T08:46:00.001-07:00

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2009-05-18T08:45:00.003-07:00

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2009-05-18T08:45:00.001-07:00

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2009-05-18T08:44:00.002-07:00

The floor of the Stock Exchange in Nigeria

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2009-05-18T08:44:00.001-07:00

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2009-05-18T08:43:00.002-07:00

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2009-05-18T08:43:00.001-07:00

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2009-05-18T08:42:00.000-07:00

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2009-05-18T08:41:00.002-07:00

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2009-05-18T08:41:00.001-07:00

Watching the ticker board at the Tadawul Stock Exchange in Saudi Arabia.

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2009-05-18T08:40:00.002-07:00

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2009-05-18T08:40:00.001-07:00

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2009-05-18T08:39:00.000-07:00

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2009-05-18T08:38:00.002-07:00

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2009-05-18T08:38:00.001-07:00

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2009-05-18T08:37:00.002-07:00

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2009-05-18T08:37:00.001-07:00

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2009-05-18T08:36:00.004-07:00

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2009-05-18T08:36:00.003-07:00

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2009-05-18T08:36:00.001-07:00

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2009-05-18T08:35:00.003-07:00

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2009-05-18T08:35:00.001-07:00

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2009-05-18T08:34:00.002-07:00

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2009-05-18T08:34:00.001-07:00

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2009-05-18T08:33:00.002-07:00

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2009-05-18T08:33:00.001-07:00

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2009-05-18T08:32:00.002-07:00

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2009-05-18T08:32:00.001-07:00

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2009-05-18T08:31:00.002-07:00

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2009-05-18T08:31:00.001-07:00

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2009-05-18T08:30:00.004-07:00

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2009-05-18T08:30:00.003-07:00

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2009-05-18T08:30:00.001-07:00

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2009-05-18T08:29:00.003-07:00

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2009-05-18T08:29:00.001-07:00

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2009-05-18T08:28:00.003-07:00

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2009-05-18T08:28:00.001-07:00

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2009-05-18T08:26:00.002-07:00

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2009-05-18T08:26:00.001-07:00

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2009-05-18T08:25:00.000-07:00

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2009-05-18T08:24:00.002-07:00

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2009-05-18T08:24:00.001-07:00

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2009-05-18T08:23:00.002-07:00

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2009-05-18T08:23:00.001-07:00

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2009-05-18T08:22:00.002-07:00

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2009-05-18T08:22:00.001-07:00

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2009-05-18T08:21:00.000-07:00

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2009-05-18T08:20:00.000-07:00

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World Wide Stock Exchange

2009-04-30T06:09:00.001-07:00

Introduction:

A stock exchange, securities exchange or (in Europe) bourse is a corporation or mutual organization which provides "trading" facilities for stock brokers and traders, to trade stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a stock exchange include: shares issued by companies, unit trusts and other pooled investment products and bonds.

Service:

Customized services and state-of-the-art technology infrastructure, have given us an edge over other exchanges in the region.
Fully automated trading, clearing and settlement system. Internet routed trading facility. Gateway trading (Order Management System).Investors and fund managers can also access information through Display Only Terminal Internet trading facilities available. Order-driven system .Brokers connectivity to KSE through VPN (to ensure security of data).

Online stock trading:

May seem overwhelming at first, with many new and strange terms to learn. But we intentionally took extra measures to make it much more understandable for you to learn. Try out our newsletter or purchase our e-book if you are in a hurry to learn. We will ship it out to you via Priority mail, so you will receive it within 3 days.

Direct Access and Day Trading Resources:

As well as offering multiple direct access trading platforms and low per share or per ticket commissions, TradePro also partners with some of the industry's best active trading service providers including SortWizard, Black Box Brokers, and others; see our resources page for a complete list.

Forex Money Management

2009-04-30T06:08:00.002-07:00

Money management is a critical point that shows difference between winners and losers. It was proved that if 100 traders start trading using a system with 60% winning odds, only 5 traders will be in profit at the end of the year. In spite of the 60% winning odds 95% of traders will lose because of their poor money management. Money management is the most significant part of any trading system. Most of traders don't understand how important it is.

Stock exchange, agriculture, real estate to be taxed: Tareen

2009-04-30T06:08:00.001-07:00

ISLAMABAD: The stock exchange, and the agriculture and real estate sectors will be brought under the tax net within the next three years, Finance Adviser Shaukat Tareen said on Wednesday. Talking at a reception by the Federation of Pakistan Chamber of Commerce and Industry, the finance adviser said the manufacturing sector was overburdened with taxes, therefore the tax net had to be expanded to bridge the revenue-expenditure gap in the future.He said electricity tariff for industrial and commercial consumers would facilitate the sectors, assuring the industrialists that the government would try to equitably burden various segments of the society to meet the revenue requirements for national development.Tareen said the government was collecting a higher Petroleum Development Levy (PDL) on petroleum oil and lubricant (POL) products to bridge the revenue shortfall, which had occurred due to a slowing down in the manufacturing sector and in dutiable imports.The finance adviser said currently the government’s major expenditures related to defence, debt servicing and development. The government would place all the facts before a judicial commission formed by the Supreme Court to analyse POL prices, Tareen said. He said a reduction in inflation was the government’s prime target.

UPDATE 1-Six Flags delisted from New York Stock Exchange

2009-04-30T06:07:00.002-07:00

NEW YORK, April 9 (Reuters) - Six Flags Inc said on Thursday that its common stock and preferred income equity redeemable shares were suspended from trading on the New York Stock Exchange for failing to meet listing criteria.
The New York-based company's shares have been suspended from trading on the exchange effective at the market opening on April 20.
The company, which recently warned it could buckle under its $2.4 billion debt load, said the development would have no impact on its park operations or vendor relationships. [ID:nN08469338]
In a recent securities filing, Six Flags said it may have to resort to Chapter 11 bankruptcy protection if talks with creditors stall. Six Flags said it hired financial and legal advisors to assist with its restructuring.
Concerns over the company's debt load, accrued during its efforts to expand globally and build new rides, have pummeled Six Flags shares in recent years. In 1999, the shares traded as high as $41.62, but the stock has been in a freefall since.
Since September the company's shares have not been able to crack through the $1.00 level. (Reporting by Deepa Seetharaman; Editing Bernard Orr)

Stock News

2009-04-30T06:07:00.001-07:00

Stock Exchange, organized market for buying and selling financial instruments known as securities, which include stocks, bonds, options, and futures. Most stock exchanges have specific locations where the trades are completed. For the stock of a company to be traded at these exchanges, it must be listed, and to be listed, the company must satisfy certain requirements. But not all stocks are bought and sold at a specific site. Such stocks are referred to as unlisted. Many of these stocks are traded over the counter—that is, by telephone or by computer.
Major stock exchanges in the United States include the New York Stock Exchange (NYSE) and the American Stock Exchange (AMEX), both in New York City. Far more corporations list their stock on the NYSE than on the AMEX, however. Nine smaller regional stock exchanges operate in Boston, Massachusetts; Cincinnati, Ohio; Chicago, Illinois; Los Angeles, California; Miami, Florida; Philadelphia, Pennsylvania; Salt Lake City, Utah; San Francisco, California; and Spokane, Washington. In addition, most of the world’s industrialized nations have stock exchanges. Among the larger international exchanges are those in London, England; Paris, France; Milan, Italy; Hong Kong, China; Toronto, Canada; and Tokyo, Japan. These stock exchanges all have a central location for trading. The major over-the-counter market in the United States is the Nasdaq Stock Market (formerly, the National Association of Securities Dealers Automated Quotation [NASDAQ] system). The European Association of Securities Dealers Automated Quotation system (EASDAQ) is the major over-the-counter market for the European Union (EU).

Importance of Stock Exchange

2009-04-30T06:06:00.000-07:00

Stock exchanges perform important roles in national economies. Most importantly, they encourage investment by providing places for buyers and sellers to trade securities. This investment, in turn, enables corporations to obtain funds to expand their businesses

CANADIAN FREE STOCK PICKS

2009-04-26T02:15:00.000-07:00

At Agnosoft, we have developed an innovative stock market research software, the Super Stock Picker, which picks the best Canadian stocks from the Toronto Stock Exchange in order to build high-performance that meet various investor profiles.

On this web site, get everything about those portfolios for FREE: you will find a description, the current holdings, the compounded returns, the sector mix, the volatility rating and the historical orders since the inception of each portfolio. You've got everything you need to find out if this is the strategy for you.

Also, we deliver to our members daily buy and sell . These orders are the same as the ones we register to build our Canadian stock portfolios.

And in our research column you will find papers about the most efficient and simple These papers illustrate clearly why the Super Stock Picker approach is so effective in picking Canadian stocks.

Worldwide Stock Exchange Markets

2009-04-22T08:08:00.000-07:00

Afghanistan Kabul International Stock Exchange
Argentina Buenos Aires Stock Exchange
Australia Australia Pacific Exchange
Australian Securities Exchange
Bendigo Stock Exchange
National Stock Exchange of Australia
Sydney Futures Exchange
Bahamas Bahamas Securities Exchange
Bahrain Bahrain Stock Exchange
Bangladesh Chittagong Stock Exchange
Dhaka Stock Exchange
Barbados Barbados Stock Exchange
Bermuda Bermuda Stock Exchange
Brazil BM&F Bovespa
Rio de Janeiro Stock Exchange
Maring� Mercantile and Futures Exchange
BOVMESB
Bulgaria Bulgarian Stock Exchange
Canada CNQ
Nasdaq Canada
Winnipeg Commodity Exchange
Toronto Stock Exchange
Montreal Exchange
Chile Santiago Stock Exchange
Santiago Electronic Stock Exchange
Valpara�so Stock Exchange
China Shanghai Stock Exchange
Shenzhen Stock Exchange
Colombia Bolsa de Valores de Colombia
Costa Rica Bolsa Nacional de Valores de Costa Rica
Czech Republic Prague Stock Exchange
Denmark Copenhagen Stock Exchange
Dominican Republic Bolsa de Valores de la Rep�blica Dominicana
Eastern Caribbean States Eastern Caribbean Securities Exchange
Egypt Cairo & Alexandria Stock Exchange
Estonia Tallinn Stock Exchange
Fiji South Pacific Stock Exchange
French Polynesia Euronext Paris
Hong Kong Hong Kong Exchanges and Clearing
Hungary Budapest Stock Exchange
Iceland Iceland Stock Exchange
India Delhi Stock Exchange Association
Gawahati Stock Exchange
Hyderabad Stock Exchange
Inter-connected Stock Exchange of India
Jaipur Stock Exchange
Ludhiana Stock Exchange
Madhya Pradesh Stock Exchange
Madras Stock Exchange
Mangalore Stock Exchange
Ahmedabad Stock Exchange
National Stock Exchange of India
Bangalore Stock Exchange
OTC Exchange of India
Bhubaneswar Stock Exchange
Pune Stock Exchange
Bombay Stock Exchange
Uttar Pradesh Stock Association
Calcutta Stock Exchange
Vadodara Stock Exchange
Cochin Stock Exchange
Meerut Stock Exchange
Coimbatore Stock Exchange
Digambar Finance Jabalpur
Indonesia Jakarta Stock Exchange
Surabaya Stock Exchange
Jakarta Futures Exchange
Iran Tehran Stock Exchange
Iraq Iraq Stock Exchange
Israel Tel-Aviv Stock Exchange
Jamaica Jamaica Stock Exchange
Japan Fukuoka Stock Exchange
JASDAQ
Nagoya Stock Exchange
Osaka Securities Exchange
Sapporo Stock Exchange
Tokyo Stock Exchange
Jordan Amman Stock Exchange
Kenya Nairobi Stock Exchange
Kuwait Kuwait Stock Exchange
Lebanon Beirut Stock Exchange
Malaysia Kuala Lumpur Commodity Exchange
Bursa Derivatives
MESDAQ
FTSE Bursa Malaysia Index
Bursa Malaysia
Mauritius The Stock Exchange of Mauritius
Mexico Bolsa Mexicana de Valores
Morocco Casablanca Stock Exchange
New Zealand New Zealand Exchange Limited
Norway Oslo Stock Exchange
Oman Muscat Securities Market
Pakistan Islamabad Stock Exchange
Karachi Stock Exchange
Lahore Stock Exchange
Philippines Philippine Stock Exchange
Philippine Dealing Exchange
Poland Warsaw Stock Exchange
NewConnect
Romania Bucharest Stock Exchange
SIBEX
RASDAQ
Russian Federation Moscow Interbank Currency Exchange
Moscow Stock Exchange
RTS Stock Exchange
Saint Petersburg Stock Exchange
Saudi Arabia Saudi Arabia Electronic Securities Information System
Tadawul
Singapore Singapore Exchange
Singapore Commodity Exchange
Slovakia Bratislava Stock Exchange
South Africa JSE Securities Exchange / Johannesburg Stock Exchange
The South African Futures Exchange
Alternative Exchange
Bond Exchange of South Africa
Sri Lanka Colombo Stock Exchange
Sudan Khartoum Stock Exchange
Sweden Nordic Growth Market
Stockholm Stock Exchange
Switzerland SWX Swiss Exchange
Bern eXchange
[B]Taiwan Taiwan Stock Exchange
Thailand[/b] Stock Exchange of Thailand
Agricultural Futures Exchange of Thailand
Thailand Futures Exchange
Market for Alternative Investment
Trinidad & Tobago Trinidad and Tobago Stock Exchange
Tunisia Bourse de Tunis
Turkey Istanbul Stock Exchange
United Arab Emirates Abu Dhabi Securities Market
Dubai Financial Market
Dubai International Financial Exchange
United Kingdom London Stock Exchange
Plus Markets
Markit BOAT
Project Turquose
United States of America American Stock Exchange
Boston Stock Exchange
Boston Equities Exchange
Boston Options Exchange
Chicago Board Options Exchange
Chicago Board of Trade
Chicago Mercantile Exchange
Chicago Stock Exchange
International Securities Exchange
Miami Stock Exchange
NASDAQ Stock Market
National Stock Exchange
New York Stock Exchange
Philadelphia Stock Exchange
Venezuela Bolsa de Valores de Caracas
Vietnam Ho Chi Minh Stock Exchange
Hanoi Securities Trading Center
Zambia Lusaka Stock Exchange