July 15, 2010
KSE-100 Index
Previous Index 10,114.65
Current Index 10,187.00
Change % 0.72%
YTD (CY10) 8.5%
YTD (FY11) 4.78%

International Indicators
  Close %age
BSE-30 17,928.16 0.27%
HANGSENG 20,560.81 0.60 %
NIKKEI 255 9,795.24 2.70 %
FTSE 5,253.52 (0.30)%
DJIA 10,366.72 0.04 %
SSEC 2,476.10 1.05%
NASDAQ 2,459.02 (0.69)%

July 13 , 2010 0.78
June, 2010 68.40
YTD (FY10) 7.06

Money Market Updates
6m T-bill 16-Jul-10 12.3481%
12m T-bil 16-Jul-10 12.4568%
3m KIBOR 12.30%
6m KIBOR 12.38%
10 yrs PIB 13.01%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 109.13
Rs/UK 130.63
Rs/US 85.80
Rs/OR 220.78

Oil $76.87/barrel
Change in % 0.013%
Gold $1,211.10/ounce
Change in % 8.00%

CPI Gen. - YoY (June-10) 12.7%
CPI Gen. - FY10 (Jul -09-June 10) 11.7%
NFNE Core INFL - YoY (June-10) 10.4%
NFNE Core INFL - FY10 (Jul-09-June-10) 11.0%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 170.01mn
US$ Reserves (July 02, 2010) $16.77bn
Trade Balance (Jul-May 10) $(13.88)bn
Curr. A/C (Jul-May-10) $(2.98)bn
Remittances (Jul -June 10) $8.91bn
Foreign Investment (Jul -May-10) $1.89bn
All Sch. Banks Deposit Base (July 09, 2010) Rs4,675bn

NAVs and Returns
as of July 14, 2010
Funds Offer Redemption
POBOP 46.9536/- 46.4841 /-
Daily Return 84.88%
POAIIF 50.8044/-   50.2964/-
Daily Return 8.47%
POAIF 54.12/- 52.77/-
Daily Return 34.62%
POASF 52.76/- 51.44/-
Daily Return 85.35%
POAF 11.0373 /-
Daily Return (0.11)%
*Daily Returns are calculated as per MUFAP guidelines

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

Record exports help reduce trade deficit in fiscal year 2010
Pakistan exports grew by $19.382 billion during 2009-10, up by 10 percent over $17.688 billion for the same period of last year, according to Federal Bureau of Statistics (FBS). Official figures released by the FBS on Wednesday showed that the exports surpassed the target set for the last year by around one billion dollars. The trade deficit in 2009-10 was $15.32, 10.54 percent less as compared to $17.13 billion over the same period of last year more... (BR)

Net foreign inflows down 20pc in FY10
Net foreign investment in the country fell 19.7 per cent to $2.14 billion in fiscal year 2009-10 against $2.66 billion in the previous fiscal, State Bank of Pakistan said Wednesday.
Out of total foreign investment, foreign direct investment (FDI) fell 40.7 per cent to $2.20 billion in the July-to-June period, from $3.72 billion the previous year, SBP said more... (TFD)

FBR to approach MoF for reducing turnover tax
The Federal Board of Revenue will submit a proposal to the Ministry of Finance for reduction of one percent excessive turnover tax for selected sectors of the economy. Sources told Business Recorder here on Tuesday that the rate may be reduced from 1 percent to 0.1 percent. However, the final decision in this regard has yet to be taken by the concerned authorities . more... (BR)




Judiciary shut door on martial law, CJP says
Supreme Court of Pakistan has adjourned the hearing of petitions against some clauses of the 18th constitutional amendment till Thursday (today). During the hearing on Wednesday, Chief Justice Iftikhar Muhammad Chaudhry in his observation remarked that the present judiciary has closed doors for martial law and there is a great difference between the sitting judiciary and the old one more... (TFD)

Sindh CM lodges protest with PM over Irsa affairs
Chief Minister Sindh Syed Qaim Ali Shah has disclosed that he had talked to Prime Minister Yousuf Raza Gilani on phone on Wednesday and lodged a protest, as certain elements were exerting political more... (N)

Clinton to visit Pakistan for security talks
US Secretary of State Hillary Clinton will attend high-level security talks in Pakistan before heading to a July 20 Afghanistan donors conference, special envoy Richard Holbrooke said Wednesday. Holbrooke told the Senate Foreign Relations Committee in prepared testimony that he would join Clinton "when she reconvenes the US-Pakistan Strategic Dialogue in Islamabad and leads the US delegation to the Kabul Conference." more... (BR)



Sector Briefing

Cash-strapped PSO seeks Rs 50 billion from Pepco: receivables stand at Rs 128.6 billion
Pakistan State Oil (PSO), fearing default to international fuel suppliers that would break the entire fuel supply chain to the country has requested Pakistan Electric Power Company (Pepco) to immediately provide Rs 50 billion to bail out it from financial woes more... (BR)

OGDC plans $1bn drilling this year
Oil & Gas Development Company (OGDC), this year, plans to spend $1billion on the drilling of 48 new wells in order to bridge record energy deficit in the country.
"We are following a very aggressive exploration policy,'' Chief Executive Shah Mehboob Alam said. "We are targeting a number of discoveries." OGDC plans to expand exploration in Balochistan which is estimated to hold more than half the country's gas reserves more... (TFD)

PSO's oil stocks dwindle to 11 days' use
The state-run company Pakistan State Oil (PSO) is in financial straits these days, reducing its oil stocks to 11 days of the national requirement. "The PSO's is left with only three-day petrol reserves while the diesel stocks can last for 11 days and the situation can further deteriorate if the company's receivables stands at Rs 130 billion are not paid in time more... (BR)


KSE Notices

Abbott Laboratories (Pakistan) Limited
Board Meeting of Abbott Laboratories (Pakistan) Limited is scheduled to be held on July 22, 2010 at 10.30 am more... (KSE)

Javed Omer Vohra & Company Limited

Notice of Aquisition of more than 10% Shareholding in JOVC by Arif Habib Securities Limited. more... (KSE)

Rafhan Maize Products Co.Ltd.

Board Meeting of Rafhan Maize Products Co.Ltd. is scheduled to be held on July 22, 2010 at 11.30 am. more... (KSE)

Honda Atlas Cars (Pakistan) Limited

Board Meeting of Honda Atlas Cars (Pakistan) Limited is scheduled to be held on July 24, 2010 at 11.00 am. more... (KSE)

KASB Securities Limited

Mr. Bilal Mustafa siddiqui has been appointed as the new Director more... (KSE)



(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily
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.