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Print - 2015-06-05
China lets regional governments swap another 1 trillion yuan of debt

China lets regional governments swap another 1 trillion yuan of debt

China has granted another 1 trillion yuan ($161.3 billion) quota to its regional governments to swap high-interest debt into low-cost bonds, Bloomberg reported on Thursday, citing people familiar with the matter. Chinese media had reported earlier on Thur
Published 05 Jun, 2015 12:00am
Walmart leads Fortune 500 as Facebook surges in rankings

Walmart leads Fortune 500 as Facebook surges in rankings

Walmart kept its lock on the top ranking of the Fortune 500 annual list of the largest US companies Thursday, while Apple was the most profitable and Facebook the most upward-bound, Fortune Magazine announced. Retail behemoth Wal-Mart Stores remained in t
Published 05 Jun, 2015 12:00am
Chabahar free zone awaits end of sanctions

Chabahar free zone awaits end of sanctions

Hundreds of containers lie idle in the scorching sun that pounds Iran's south-eastern port of Chabahar, a free trade zone crippled by decades of international sanctions. But against the backdrop of nuclear talks between Tehran and world powers, authoritie
Published 05 Jun, 2015 12:00am
US wins WTO poultry birdflu case against India

US wins WTO poultry birdflu case against India

The World Trade Organisation (WTO) said on Thursday that India broke international trade rules by blocking US poultry and egg imports because of unsubstantiated bird flu fears, confirming a win for the United States in the dispute. The WTO Appellate Body
Published 05 Jun, 2015 12:00am
Bangladesh targets seven percent growth with $39 billion budget

Bangladesh targets seven percent growth with $39 billion budget

Impoverished Bangladesh on Thursday unveiled a $39 billion budget for the coming year that attempts to woo investment and revive its flagging economy, which has been hit by months of deadly political turmoil. Finance Minister A.M.A. Muhith announced plans
Published 05 Jun, 2015 12:00am
Britain sells off postal service stake to cut debt

Britain sells off postal service stake to cut debt

Britain's newly elected government announced plans Thursday to sell off its remaining stake in Royal Mail and slash ministry budgets in a bid to cut £4.5 billion ($6.9 billion, 6.1 billion euros) from state debt this year. Less than a month after Prime Mi
Published 05 Jun, 2015 12:00am
Bank of England holds interest rate at 0.50 per cent

Bank of England holds interest rate at 0.50 per cent

The Bank of England on Thursday said it had voted to leave its main interest rate at a record-low 0.50 percent as the country balances negative inflation and weak growth. The nine-member Monetary Policy Committee also maintained the central bank's level o
Published 05 Jun, 2015 12:00am
US oil price manipulation lawsuit settled for $16.5 million

US oil price manipulation lawsuit settled for $16.5 million

Arcadia Petroleum Ltd, its Parnon Energy unit and two traders have reached a $16.5 million settlement of a US class-action lawsuit accusing them of illegally manipulating the price of crude oil in early 2008. The preliminary settlement was filed late Wedn
Published 05 Jun, 2015 12:00am
Weak US productivity, rising labour costs stir inflation concern

Weak US productivity, rising labour costs stir inflation concern

US nonfarm productivity fell more sharply than initially thought in the first quarter, leading to a jump in labour-related production costs, a trend that could ignite inflation if sustained. Other data on Thursday showed the labour market tightening, with
Published 05 Jun, 2015 12:00am
IMF cuts US growth outlook, urges Fed to delay rate hike

IMF cuts US growth outlook, urges Fed to delay rate hike

The International Monetary Fund on Thursday cut its 2015 growth forecast for the United States and called on the Federal Reserve to put off a rate hike until conditions are stronger. In an annual report of the world's largest economy, the Fund said growth
Published 05 Jun, 2015 12:00am
IMF cuts US growth outlook, urges Fed to delay rate hike

IMF cuts US growth outlook, urges Fed to delay rate hike

The International Monetary Fund on Thursday cut its 2015 growth forecast for the United States and called on the Federal Reserve to put off a rate hike until conditions are stronger. In an annual report of the world's largest economy, the Fund said growth
Published 05 Jun, 2015 12:00am
Brazil raises interest rates again

Brazil raises interest rates again

Brazil raised interest rates to the highest levels in more than six years on Wednesday, extending a tightening campaign and leaving the door open for more hikes despite concerns that steep borrowing costs could deepen an expected economic recession. The c
Published 05 Jun, 2015 12:00am
Asia's resilient fuel demand vindicates Opec policy...for now

Asia's resilient fuel demand vindicates Opec policy...for now

Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now Opec's decision six months ago to keep its taps open. Saudi Arabia's oil
Published 05 Jun, 2015 12:00am
'No free rides' ahead for African economies, WEF told

'No free rides' ahead for African economies, WEF told

There are "no free rides" ahead for Africa as it seeks to maintain strong growth in the face of fierce global competition, business leaders told the regional World Economic Forum on Thursday. Beneath the familiar tone of the "Africa rising" theme, delegat
Published 05 Jun, 2015 12:00am
Depleting stocks improve cotton prices
Cotton

Depleting stocks improve cotton prices

As less than 100,000 bales of current crop (August 2014 / July 2015) remains unsold in the market, prices remain mostly steady till the arrival of new crop (August 2015 / July 2016). Seedcotton (kapas / phutti) from the new crop may arrive in very small q
Published 05 Jun, 2015 12:00am
Depleting stocks improve cotton prices
Cotton

Depleting stocks improve cotton prices

As less than 100,000 bales of current crop (August 2014 / July 2015) remains unsold in the market, prices remain mostly steady till the arrival of new crop (August 2015 / July 2016). Seedcotton (kapas / phutti) from the new crop may arrive in very small q
Published 05 Jun, 2015 12:00am
No business on grain market

No business on grain market

Not a single deal finalised on the wholesale grain market on Thursday due to strike in the city to observe mourning day after killing of a MQM worker in police custody on Wednesday.
Published 05 Jun, 2015 12:00am
Mills, ginners keep on the sidelines ahead of budget
Cotton

Mills, ginners keep on the sidelines ahead of budget

Main participants kept on the sidelines on the cotton market ahead of federal budget for 2015-16, dealers said on Wednesday. The official spot rate was inert at Rs 5400, dealers said. In the ready session, only 1400 bales of cotton sold at Rs 4600, they s
Published 05 Jun, 2015 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 83,416 tonnes of cargo comprising 62,954 tonnes of import cargo and 20,462 tonnes of export cargo including 4,336 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 62,
Published 05 Jun, 2015 12:00am
US natural gas futures fall on weaker demand

US natural gas futures fall on weaker demand

US natural gas futures fell over 2 percent on Wednesday on forecasts for weaker demand and stronger production as the market awaited guidance from the federal government's storage report. Front-month gas futures on the New York Mercantile Exchange closed
Published 05 Jun, 2015 12:00am
HRW wheat bids weaker

HRW wheat bids weaker

US hard red winter wheat spot basis bids in the southern Plains were steady to weaker early on Wednesday as the active harvest nears in Texas and Oklahoma and futures rally for the third straight day, merchants said. The near 50-cent jump in futures this
Published 05 Jun, 2015 12:00am
European wheat futures lower

European wheat futures lower

European wheat futures fell in late trade on Wednesday, giving up earlier gains due to the export-punishing strength of the euro. On the Paris-based Euronext market, December milling wheat, the most active contract, unofficially closed down 0.5 euro, or 0
Published 05 Jun, 2015 12:00am
Indian oilseeds, soyaoil futures fall; sugar rises

Indian oilseeds, soyaoil futures fall; sugar rises

Indian oilseeds and soyaoil futures fell on Wednesday on profit-taking, driven by a drop in Malaysian palm oil prices and weak exports demand for soyameal. The downside was restricted by concerns over production of summer-sown oilseeds after the governmen
Published 05 Jun, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Wednesday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 2.617 billion as compared to PKR 2.117 billion reported on Tuesday, an increase of 24 percent. The number of lots traded also increased by 33 percent to 15,452 from 11,659. PMEX Comm
Published 05 Jun, 2015 12:00am
Message from Federal Minister for Finance, Government of Pakistan

Message from Federal Minister for Finance, Government of Pakistan

First and foremost, I take this opportunity to commend all three stock exchanges and SAFE in highlighting the significance of the Pakistan IPO Summit Series. This unique platform brings together the potential IPO companies and important stakeholders under
Published 05 Jun, 2015 12:00am
Message from Chairman, LSE

Message from Chairman, LSE

LSE, is the proud host of this year's IPO Summit presented by SAFE. It is my fervent prayer and hope that this event is crowned with success. The focus of the IPO Summit is not only to assist potential IPO companies but also raise awareness about "going p
Published 05 Jun, 2015 12:00am
Message from Chairman, Karachi Stock Exchange

Message from Chairman, Karachi Stock Exchange

The Karachi Stock Exchange whole heartedly welcomes SAFE's efforts to generate awareness within Pakistan's corporate sector regarding benefits to list on the exchanges. The rising global connectivity in the areas of trade and financial flows from savings
Published 05 Jun, 2015 12:00am
Message from Chairman, ISE

Message from Chairman, ISE

The IPO Summit 2015, organized by SAFE is an ideal platform for entrepreneurs and private companies to gain exposure of growth opportunities in Pakistan's capital market. Local stock exchanges, capital market regulators, and the financial services industr
Published 05 Jun, 2015 12:00am
Message from Secretary General, SAFE

Message from Secretary General, SAFE

On behalf of the South Asian Federation of Exchanges I take pride in welcoming you to the IPO Summit of 2015. The IPO Summit in its fifth consecutive year has introduced new IPOs from various firms including manufacturing, services and technology. About h
Published 05 Jun, 2015 12:00am
PAKISTAN IPO SUMMIT SERIES (2011 - 2015)

PAKISTAN IPO SUMMIT SERIES (2011 - 2015)

The IPO Summit Series, kick started in 2011, has been held as an annual event consecutively since its inception. It has flourished into the premier destination for capital market and financial services industry professionals to network and exchange ideas
Published 05 Jun, 2015 12:00am
The Role of Corporate Communications in Image Building of a Company

The Role of Corporate Communications in Image Building of a Company

I remember participating in activities such as guessing your personality traits by your hand writing and the one that could guess by the texture of your hair. Similarly, when we walk in for an interview, our body language is observed and our gestures are
Published 05 Jun, 2015 12:00am
Benefits of Becoming a Publicly Listed Company

Benefits of Becoming a Publicly Listed Company

It is an honor for the Karachi Stock Exchange to co-host Pakistan's IPO Summit 2015 in partnership with the Lahore Stock Exchange and the South Asian Federation of Stock Exchanges (SAFE). This forum provides a unique opportunity for financers & investors
Published 05 Jun, 2015 12:00am
IPOs and Regulatory Framework

IPOs and Regulatory Framework

  1. Initial Public Offering (IPO): Initial Public Offering or IPO is the first time sale of securities by a company to the public. Sometimes shares of already listed companies are offered for sale to the public, such offer is called Secondary or Subsequent
Published 05 Jun, 2015 12:00am
Agha Steel Industries

Agha Steel Industries

Agha Steel Industries is Pakistan's first state of the art steel mini-mill in Pakistan. Agha Steel Industries (ASI) is committed to utilising the latest technological advances witnessed in the metallurgical sector in order to advance Pakistan's promising
Published 05 Jun, 2015 12:00am
Amreli Steels Limited

Amreli Steels Limited

Since its inception in 1972, Amreli Steels Limited has managed to build its reputation as one of the most trusted and reliable manufacturers of steel reinforcement bars in Pakistan. Not only does the company take pride in it being the largest steel bar ma
Published 05 Jun, 2015 12:00am
ASG Metals Abbas Steel Group (ASG)

ASG Metals Abbas Steel Group (ASG)

Our success lies in our dual-focus strategy; top of the line service to our customers and excellence in our operations. Through the combination of our dynamic strategy, the talent of our team and the unbeatable quality of our production processes, we cont
Published 05 Jun, 2015 12:00am
ChenOne Stores Limited

ChenOne Stores Limited

The foundations of ChenOne Stores Limited (the company) were laid down in the year 1997. The company was incorporated under the Companies Ordinance, 1984 on 25 July 1997 as a private limited company. The company was converted into public company with effe
Published 05 Jun, 2015 12:00am
Hi-Tech Lubricants Limited (ZIC)

Hi-Tech Lubricants Limited (ZIC)

Hi-Tech Lubricants was formed as a partnership (AOP) in March, 1997 and was created to market imported lubricants in Pakistan. These Lubricants were imported from YU Kong Ltd (Now SK Lubricants Ltd), South Korea in sealed cartons. Pakistani Lubricant mark
Published 05 Jun, 2015 12:00am
MDS FOODS PVT LIMITED - OPERATORS OF HARDEE'S INTERNATIONAL RESTAURANTS

MDS FOODS PVT LIMITED - OPERATORS OF HARDEE'S INTERNATIONAL RESTAURANTS

MDS FOODS PVT Limited is an associated company of super Asia Group. Company was started by Six Partners Mr Sohail Yousuf as CEO; Mr Faisal Afzal, Mr Usman Ashraf, Mr Bilal Afzal, Mr Umar Ashraf and Mr Taimoor Yousaf. MDS Foods is a franchisee of CKE Inter
Published 05 Jun, 2015 12:00am
Loads Limited
Vegetable Oil

Loads Limited

Loads is a member of the Ali Group, a conglomerate of companies engaged in diverse activities such as packaging, insurance, investment banking, engineering, vegetable oil, soaps, razor blades, food products, etc.
Published 05 Jun, 2015 12:00am
TCS Express & Logistics

TCS Express & Logistics

TCS has the true privilege of having 30+ years of experience as well as heritage. We have a wide network expanding the length of Pakistan, with 740+ outlets across the lands and a presence in 380 cities. We boast of 480 satellite tracked vehicles with an
Published 05 Jun, 2015 12:00am
IPO Capital Market Development Awards 2015

IPO Capital Market Development Awards 2015

South Asian Federation of Exchanges (SAFE) the only industry representative association for capital markets in South Asia, in collaboration with its lead promoters for Pakistan IPO Summit 2015; the Lahore Stock Exchange (LSE), Karachi Stock Exchange (KSE)
Published 05 Jun, 2015 12:00am
UBL Fund Managers (UBL Funds)
Mutual Funds

UBL Fund Managers (UBL Funds)

UBL Fund Managers was established in 2001 as a wholly owned subsidiary of UBL Bank Limited. UBL Funds has a history of launching innovative products like Principal Protected Funds based upon the CPPI methodology, Commodity Funds and need-based investment
Published 05 Jun, 2015 12:00am
SECP Citation IPO Summit 2015

SECP Citation IPO Summit 2015

The SECP has always supported and facilitated initiatives relating to development of capital market. In the recent past, it has taken various steps for the development of the IPO market. These steps include introduction of the e-IPO facility, introduction
Published 05 Jun, 2015 12:00am
AKD Securities Limited (AKDS):

AKD Securities Limited (AKDS):

AKD Securities Limited (AKDS) is one of the leading securities firm in Pakistan providing a comprehensive suite of investor focused services including equity brokerage, economic and securities research, investment banking and financial advisory services.
Published 05 Jun, 2015 12:00am
BRIEF PROFILE OF CHENONE STORES LIMITED

BRIEF PROFILE OF CHENONE STORES LIMITED

The foundations of ChenOne Stores Limited (the company) were laid down in the year 1997. The company was incorporated under the Companies Ordinance, 1984 on 25 July, 1997, as a private limited company. The company was converted into a public company with
Published 05 Jun, 2015 12:00am
Message from Mumtaz Hasan Khan Chairman & CEO

Message from Mumtaz Hasan Khan Chairman & CEO

I am delighted that the South Asian Summit is being held in Lahore. It should bring awareness to a lot of companies regarding the advantages of being listed on the stock exchange and thereby improve corporate governance. From Hascol's own experience, I ca
Published 05 Jun, 2015 12:00am
Islamabad Stock Exchange
Mutual Funds

Islamabad Stock Exchange

It is heartening to see a campaign, aimed at encouraging fresh listings, now enter its fifth year. Together with all capital market entities of Pakistan, once again the ISE is proud to join hands to organise the Annual IPO Summit-2015. This incredible ini
Published 05 Jun, 2015 12:00am
HI-TECH LUBRICANTS LIMITED (ZIC)

HI-TECH LUBRICANTS LIMITED (ZIC)

Hi-Tech Lubricants was formed as a partnership (AOP) in March, 1997 and was created to market imported lubricants in Pakistan. These Lubricants were imported from YU Kong Ltd (Now SK Lubricants Ltd), South Korea in sealed cartons. Pakistani Lubricant mark
Published 05 Jun, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 05 Jun, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 05 Jun, 2015 12:00am
State Bank of Pakistan conversion rates
Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 05 Jun, 2015 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 05 Jun, 2015 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (June 04, 2015).

Published 05 Jun, 2015 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (June 04, 2015).

Published 05 Jun, 2015 12:00am
Money Market Report
Kerb

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 04, 2015).
Published 05 Jun, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (June 04, 2015).

Published 05 Jun, 2015 12:00am
Blue chips lead rally

Blue chips lead rally

The Karachi share market gained another 177 points Thursday to close at 34,085.74. The pre-budget rally was led by trading in second and third-tier stocks in cement and power sectors. While the foreign and local fund managers are believed to have been sup
Published 05 Jun, 2015 12:00am
Economy suffers $10 6.98 billion losses in 14 years

Economy suffers $10 6.98 billion losses in 14 years

Pakistan's economy has suffered $106.98 billion loss equivalent to Rs 8,702.75 billion [directly and indirectly] during the last 14 years due to terrorism, revealed the FY 2014-15 Economic Survey launched here Thursday. According to the survey, Pakistan's
Published 05 Jun, 2015 12:00am
All targets to address environment, climate change missed

All targets to address environment, climate change missed

The government has missed almost all sustainable and Millennium Development Goals to tackle exacerbating situation of environment and climate change in the country. The Economic Survey 2014-15 released on Thursday disclosed that the country is still far f
Published 05 Jun, 2015 12:00am
Document relevant for policymakers?

Document relevant for policymakers?

The Economic Survey 2014-15 contains, in common with last year, a clear and distinct bias in favour of the government's performance making the document largely irrelevant for policymakers. It has given birth to a question why all the positive indicators a
Published 05 Jun, 2015 12:00am
Document relevant for policymakers?

Document relevant for policymakers?

The Economic Survey 2014-15 contains, in common with last year, a clear and distinct bias in favour of the government's performance making the document largely irrelevant for policymakers. It has given birth to a question why all the positive indicators a
Published 05 Jun, 2015 12:00am
THE RUPEE: stable trend
Currency

THE RUPEE: stable trend

KARACHI: A kind of firmness prevailed on the money market on Thursday as the rupee moved up against the dollar ahead of budget 2015-16, they said. The rupee firmly held the overnight level in relation to the dollar for buying and selling at Rs 101.87 and
Published 05 Jun, 2015 12:00am
Document relevant for policymakers?

Document relevant for policymakers?

The Economic Survey 2014-15 contains, in common with last year, a clear and distinct bias in favour of the government''s performance making the document largely irrelevant for policymakers. It has given birth to a question why all the positive indicators
Published 05 Jun, 2015 12:00am
THE RUPEE: stable trend
Currency

THE RUPEE: stable trend

KARACHI: A kind of firmness prevailed on the money market on Thursday as the rupee moved up against the dollar ahead of budget 2015-16, they said. The rupee firmly held the overnight level in relation to the dollar for buying and selling at Rs 101.87 and
Published 05 Jun, 2015 12:00am
Document relevant for policymakers?

Document relevant for policymakers?

The Economic Survey 2014-15 contains, in common with last year, a clear and distinct bias in favour of the government''''s performance making the document largely irrelevant for policymakers. It has given birth to a question why all the positive indicator
Published 05 Jun, 2015 12:00am
Blue chips lead rally

Blue chips lead rally

The Karachi share market gained another 177 points Thursday to close at 34,085.74. The pre-budget rally was led by trading in second and third-tier stocks in cement and power sectors. While the foreign and local fund managers are believed to have been sup
Published 05 Jun, 2015 12:00am
Blue chips lead rally

Blue chips lead rally

The Karachi share market gained another 177 points Thursday to close at 34,085.74. The pre-budget rally was led by trading in second and third-tier stocks in cement and power sectors. While the foreign and local fund managers are believed to have been sup
Published 05 Jun, 2015 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (June 04, 2015).

Published 05 Jun, 2015 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (June 04, 2015).

Published 05 Jun, 2015 12:00am
What lies in store?

What lies in store?

Like always, next FY Budget too will surely smell rosy. By tying knot with the IMF, the Federal Budget will have nothing much significant to offer because of Pakistan''''s commitment to obtain dollars from the global lender. To correct economic anomalies,
Published 05 Jun, 2015 12:00am
What lies in store?

What lies in store?

Like always, next FY Budget too will surely smell rosy. By tying knot with the IMF, the Federal Budget will have nothing much significant to offer because of Pakistan''s commitment to obtain dollars from the global lender. To correct economic anomalies, f
Published 05 Jun, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (June 04, 2015) and the forecast for Friday (June 05, 2015).

Published 05 Jun, 2015 12:00am
What lies in store?

What lies in store?

Like always, next FY Budget too will surely smell rosy. By tying knot with the IMF, the Federal Budget will have nothing much significant to offer because of Pakistan's commitment to obtain dollars from the global lender. To correct economic anomalies, fo
Published 05 Jun, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 05 Jun, 2015 12:00am
What lies in store?

What lies in store?

Like always, next FY Budget too will surely smell rosy. By tying knot with the IMF, the Federal Budget will have nothing much significant to offer because of Pakistan's commitment to obtain dollars from the global lender. To correct economic anomalies, fo
Published 05 Jun, 2015 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 05 Jun, 2015 12:00am
Budget today: Agriculture sector ignored?

Budget today: Agriculture sector ignored?

The government to unveil the federal budget of around Rs 4.3 trillion for the next fiscal year today (Friday). Sources said the next year''s federal budget is still undergoing changes. An official said that the Finance Minister who faced strong criticism
Published 05 Jun, 2015 12:00am
BRIndex30 surges 129.68 points

BRIndex30 surges 129.68 points

On Thursday, BRIndex30 opened at 19,972.97 points. It touched an intraday high of 20,180.03 points and an intraday low of 19,942.07 points and closed at 20,102.65 points which was 129.68 points or 0.65 percent higher than previous close. Total volume was
Published 05 Jun, 2015 12:00am