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July 05, 2010
Statistics
KSE-100 Index
Previous Index 9,730.99
Current Index 9,697.65
Change % (0.34)%
YTD (CY10) 3.31%
YTD (FY11) (0.25)%

International Indicators
  Close %age
BSE-30 17,460.95 (0.28)%
HANGSENG 19,905.32 (1.11)%
NIKKEI 255 9,203.71 0.13%
FTSE 4,838.10 0.67%
DJIA 9,686.48 (0.47)%
SSEC 2,382.90 0.38%
NASDAQ 2,091.79 (0.46)%

SCRA
June 30 , 2010 27.23
June, 2010 68.40
YTD 568.87

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.26%
6m KIBOR 12.35%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 107.12
Rs/UK 129.88
Rs/US 85.53
Rs/OR 216.76

Commodities
Oil $72.51/barrel
Oil Change in % 0.51%
Gold $1,214.00/ounce
Gold Change in % 0.52%

Inflation
CPI Gen. - YoY (May-10) 13.1%
CPI Gen. - FY10 (Jul -09-May 10) 11.6%
NFNE Core INFL - YoY (May-10) 10.3%
NFNE Core INFL - FY10 (Jul-09-May-10) 11.1%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 169.73mn
US$ Reserves (Jun 25, 2010) $15.83bn
Trade Balance (Jul-May 10) $(13.88)bn
Curr. A/C (Jul-May-10) $(2.98)bn
Remittances (Jul -May 10) $8.06bn
Foreign Investment (Jul -May-10) $1.89bn
All Sch. Banks Deposit Base (Jun 25, 2010) Rs4,661bn

NAVs and Returns
as of June 30, 2010
Funds Offer Redemption
POBOP 47.7816/- 47.3038/-
Daily Return (70.93)%
POAIIF 53.4703/-   52.9356/-
Daily Return (99.99)%
POAIF 54.12/- 52.77/-
Daily Return (117.21)%
POASF 51.54/- 50.25/-
Daily Return 21.80%
POAF 11.1147/-
Daily Return 5.05%
*Daily Returns are calculated as per MUFAP guidelines

Funds Rating
AMC Ratings AM3
POBOPAPF Fund A- (f)
POAF Fund Rating AA-
Economy

NSS rates to remain unchanged
The Government has announced that the rates of return on all National Savings Schemes will remain unchanged till next review more... (D)

MONEY WEEK: The maths of meeting IMF targets
The government was missing its net zero quarterly budgetary support borrowing target from SBP by Rs130 billion as of June18. Reliable sources however reveal that the government has achieved targets of its borrowing from SBP, ceiling on SBP's net domestic assets and floor on SBP's net foreign assets more... (BR)

Ministry of power blocks $800m hydropower project
Despite the severe energy crisis tormenting the country and rising power tariffs, the Ministry of Water and Power is reported to have blocked $800 million foreign investment for a cheap hydelpower generation project on procedural and technical grounds more... (D)

 

Politics

McCain slams US withdrawal date from Afghanistan
US Senator John McCain Sunday slammed the July 2011 target for beginning to pull US troops out of Afghanistan, saying setting a firm date for withdrawal would raise questions about US commitment there. "I'm concerned about the perception of our friends and our enemies as well as the people in Afghanistan, as to the depth of our commitment," McCain told ABC news in an interview from Kabul more... (BR)

Pak, India has distrust on Afghanistan: Pentagon
A top Pentagon official has acknowledged there is distrust between India and Pakistan on Afghanistan because of historical reasons. Certainly, given the historic tensions between India and Pakistan, both tend to view Afghanistan through that prism, the Under Secretary of Defence for Policy, Michele Flournoy, said in response to a question at the Washington-chapter of the Asia Society more... (FD)

Anti-terrorism strategy: Prime Minister to chair high level meeting today
Prime Minister Syed Yousuf Raza Gilani has convened a high level meeting on Monday to chalk out strategy to curb the growing terrorism and extremism. All the four chief ministers, provincial home ministers, chief secretaries, and heads of police and intelligence agencies would attend the meeting to be chaired by Prime Minister at the PM Secretariat more... (BR)


Sector Briefing

Loans written off since March 2008: Banks/DFIs suffer over Rs 2 billion loss
Banks/DFIs have suffered a loss of Rs 2.278 billion on account of loan written off since March 2008, according to Federal Ministry of Finance. The details available with Business Recorder showed that NIB Bank suffered the highest loss - Rs 1.329 billion - on account of the loan written off during the period; while Samba Bank Limited and SME Bank suffered a loss of Rs 0.4 million and Rs 0.636 million, respectively more... (BR)

KESC's 560 megawatts combined cycle power plant: first gas turbine arrives from France
The first gas turbine of Karachi Electric Supply Company's (KESC) 377 million dollar 560-megawatt Combined Cycle Power Plant at Bin Qasim, called BQPS-2, arrived in Karachi while two more gas turbines are scheduled to land in the middle of this month more... (BR)

Operational efficiency: SSGC pursues organisational restructuring
Sui Southern Gas Company (SSGC) is implementing an extensive organisational restructuring programme in order to modernize the structure for greater efficiency and to bring about a concept that works from grass-roots level up to the corporate level, it is learnt more... (BR)

(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
  Imran Altaf
Research Analyst
    Faiz Malik
Database Manager

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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.