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August 20, 2009
Statistics
KSE-100 Index
Previous Index
7,995.10
Current Index
7,952.70
Change %
(0.53)%
YTD (CY09)
38.24%
YTD (FY10)
9.38%

International Indicators
 
Close
Percentage
BSE-30
14,809.64
(1.50)%
HANGSENG
19,954.23
(1.73)%
NIKKEI 255
10,204.00
(0.79)%
FTSE
4,689.70
0.08%
DJIA
9,279.16
0.66%
SSEC
2,910.88
1.40%
NASDAQ Composite
1,969.24
0.68%

S.C.R.A
Aug 18, 2009
4.228
Aug 2009
34.286
YTD
39.253

Money Market Updates
Tbill (6 m) Jul 15, '09
11.38%
Tbill (12 m) Aug 12, '09
12.16%
KIBOR (3 m) Aug 19, '09
12.30%
KIBOR (6 m) Aug 19, '09
12.29%
PIB (10 yrs) Aug 19, '09
12.34%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO
116.80
Rs/UK
136.55
Rs/US
82.65
Rs/OR
212.76

Commodities
Oil
$72.27/barrel
Oil Change in %
3.36%
Gold
$943.40/ounce
Gold Change in %
0.15%

Inflation
CPI Gen. Jul 09 (YOY)
11.20%
CPI Gen. FY10 (Jul 09)
11.20%
NFNE Core INFL Jul 09 (YOY)
14.00%
NFNE Core INFL FY10 (Jul 09)
14.00%

Economic Indicators
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.20mn
US$ Reserves (Aug 08, 09)
11.85bn
Trade Deficit (Jul 09)
$(1.15)bn
Curr. A/C (Jul 09)
$(606)mn
Remittances (Jul 09)
$747.22mn
Foreign Investment (Jul 09)
$195.6mn
All Scheduled Banks Deposit Base (Aug 15, 2009)
Rs.4,098bn

Daily Returns and NAVs
as of Aug 19, 2009
 
Offer
Redemption
POBOP
51.6465/-
51.1300/-
Daily Return
12.02%
POAIIF
52.4089/-
51.8848/-
Daily Return
7.67%
POAIF
54.07/-
52.72/-
Daily Return
(13.84)%
POASF
54.18/-
52.83/-
Daily Return
0.00%
POAF
11.12/-
Daily Return
13.01%
* Daily Returns are calculated as per MUFAP guidelines

Inflation
AMC Ratings
AM3+
POBOPAPF
Fund Stablility Rating
A(f)
POAF Fund Rating
AA-
Economy

C/A deficit down at $606mn for Jul
The current account deficit of the country shrank by 48.7 per cent to $606 million in July 2009 from $1.18 billion during same period last year, owing mainly to decline in global oil and food prices, the State Bank of Pakistan (SBP) reported Wednesday. more... (FD)

Four new rental power projects: minister fails to get ECC nod
The Minister for Water and Power, Pervez Ashraf, is reported to have failed to get approval for four new rental power projects of 473 MW from the Economic Co-ordination Committee (ECC) of the Cabinet on August 18, 2009, sources in PPIB told Business Recorder. more... (BR)

Ecnec may nod Rs1218bn projects
The Executive Committee of National Economic Council (ECNEC) would consider approving projects worth Rs1218.60 billion during its meeting scheduled today. more... (FD)

Report on sugar industry cartelisation: ECC defers CCP presentation for second time
The Economic Co-ordination Committee (ECC) of the Cabinet has deferred, for the second time, the presentation by the Competition Commission of Pakistan (CCP) seeking government's political support to proceed against alleged cartelisation by the sugar industry. Sources told Business Recorder on Wednesday that the CCP had compiled a comprehensive report on sugar cartelisation for the ECC. more... (BR)

Govt working to recover $1.4bn from US: Tareen
Coalition Support Fund
Federal Minister for Finance and Economic Affairs, Shaukat Tareen said Wednesday that US has to pay $1.4 billion to Pakistan in account of coalition support fund and efforts are underway for the recovery of this amount. more... (FD)

PPP will restore 1973 Constitution: PM
Says health insurance to be launched soon
Free 200 power units, cheap gas under BISP
Prime Minister Syed Yousuf Raza Gilani said Wednesday that government will soon provide free power up to 200 units, health insurance and cheap gas to the poor under Benazir Income Support Programme (BISP). more... (FD)

Cases against Zardari can be reopened: National Accountability Bureau (NAB)
National Accountability Bureau (NAB) has made it clear that it has nothing to do with the National Reconciliation Ordinance, promulgated by former president Pervez Musharraf, adding all the cases against the persons including President Asif Zardari who have benefited from NRO can be reopened. more... (FD)

Prime Minister constitutes 53-man 'Business Persons Council'
Prime Mininster Yousuf Raza Gilani has constituted a 53-member 'Business Persons Council' to develop a commerce and trade sector strategy. Mininster for Industries and Production Manzoor Ahmad Wattoo told APP on Wednesday that for the first time in history. more... (BR)

Holbrooke favours local government system
'400 US business visas per mth from next week'
Holbrooke refuses any financial help to KESC
The US Special Envoy to Afghanistan and Pakistan, Richard Holbrooke has termed the development works carried out in Karachi 'unbelievable' and said that the Local Government system should persist. more... (FD)

Sector Briefing

Morgan Stanley to induct KSE into EMI next year
KSE 2nd best performing mkt in MSCI
Managing Director, Karachi Stock Exchange, Adnan Afridi said Wednesday that Morgan Stanley will consider including Karachi Stock Exchange into Emerging Markets Index (EMI) next year as KSE authorities have erased their reservations. more... (FD)

Oil and Gas Development Company Limited (OGDCL) workers awarded 12pc stake
Government's asset-sale to the employees plan got off Wednesday as workers of Oil and Gas Development Company Limited (OGDCL) were awarded 12 per cent stakes in the entity. more... (FD)

3 refineries to start operation in 3 years
Qadirpur Gas field producing 199.92bn CF gas 465,000 barrel oil to be produced
National Assembly was informed Wednesday that three oil refineries with aggregate capacity of 465,000 barrels of oil per day would be commissioned during the next three years. more... (FD)

PRL posts loss of Rs 4.571 billion in fiscal year 2009
Pakistan Refinery Limited (PRL) has recorded after tax loss of Rs 4.571 billion in the year ended June 30, 2009 as compared to after tax profit of Rs 2.110 billion in FY08. The company's board of directors in its meeting held on Wednesday declared per share loss of Rs 130.62 in the period under review against per share earning of Rs 60.31 in the same period a year back. more... (BR)

Silkbank Limited (SILK) bags Rs1.1bn 1HCY09 losses
Silkbank Limited (SILK) announced its financial results for the six-month period ended June 30, 2009 (1HCY09) here Wednesday showing Rs1,108 million loss after taxation (LPS: Rs1.23) as compared to LAT of Rs771 million (LPS: Rs1.54) in the corresponding period. more... (FD)

Shell logs Rs1.01bn profits for 1HCY09
Financing cost hurts company’s earnings big time
Shell Pakistan Limited (SHELL) announced Wednesday a decline of 70.6 per cent in its profits for the period ended June 30, 2009 (1HCY09). According to details, the company's profit after taxation (PAT) While addressing a press conference here in Privatisation Commission, Minister for Privatisation, Naveed Qamar stated that plan is aimed at improving the company's performance and its implementation will boost the confidence and performance of workers and OGDCL, which is the biggest company in the country by market value. more... (FD)

Wyeth Pakistan posts losses for 1HCY09M
Wyeth Pakistan Limited, a pharmaceutical sector company, announced its financial result for the period ended June 30, 2009 (1HCY09) posting 42 per cent decline in its profits.According to details, the company reported a profit after taxation worth Rs32.003 million (EPS: Rs22.51) against Rs55.240 million PAT (EPS: Rs38.86) during the same period last year. more... (FD)

(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily
Research Team:
Shoaib Ali Khan
Department Head
Shayan Hasan
Research Analyst
Salman Kazmi
Research Analyst
Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
Majid Butt
Research Analyst
Faiz Malik
Database Manager
Separator
Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon.  Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission