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July 20, 2010
Statistics
KSE-100 Index
Previous Index 10,153.85
Current Index 10,201.85
Change % 0.47%
YTD (CY10) 8.68%
YTD (FY11) 4.94%

International Indicators
  Close %age
BSE-30 17,928.42 0.15
HANGSENG 20,090.95 (0.80)
NIKKEI 255 9,408.36 (2.90)
FTSE 5,148.28 (0.20)
DJIA 10,154.43 0.56
SSEC 2,445.36 2.69
NASDAQ 2,198.23 0.88

SCRA
July 15, 2010 (1.41)
June, 2010 68.40
YTD (FY10) 18.59

Money Market Updates
6m T-bill 14-Jul-10 12.32%
12m T-bil 14-Jul-10 12.44%
3m KIBOR 12.30%
6m KIBOR 12.39%
10 yrs PIB 13.01%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 110.59
Rs/UK 131.19
Rs/US 85.70
Rs/OR 221.16

Commodities
Oil $76.71/barrel
Change in % 1.03%
Gold $1183.40/ounce
Change in % (0.81)%

Inflation
CPI Gen. - YoY (Jun-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 170.05mn
US$ Reserves (July 09, 2010) $16.63bn
Trade Balance (Jul-May 10) $(15.33)bn
Curr. A/C (Jul-Jun-10) $(3.51)bn
Remittances (Jul -June 10) $8.91bn
Foreign Investment (Jul -Jun-10) $2.14bn
All Sch. Banks Deposit Base (July 09, 2010) Rs4,675bn

NAVs and Returns
as of July 19, 2010
Funds Offer Redemption
POBOP 46.7581/- 46.2905 /-
Daily Return (38.32%)
POAIIF 50.8551/-   50.3465 /-
Daily Return 7.55%
POAIF 54.05/- 52.70/-
Daily Return 6.93%
POASF 52.81 /- 51.49 /-
Daily Return 33.17%
POAF 11.0593 /-
Daily Return 0.21%
*Daily Returns are calculated as per MUFAP guidelines

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

FBR reiterates to implement reformed GST
The Federal Board of Revenue (FBR) will implement the reformed General Sales Tax (GST) taking into account the consensus between provinces and federation on the issue of sales tax collection on services. Sources told Business Recorder here on Monday that the Board-in-Council meeting of the FBR headed by FBR Chairman Sohail Ahmed reiterated to implement the reformed GST as per decision of the Ministry of Finance regarding collection of sales tax on services more... (BR)

Transit trade deal: GHQ, ISI were on board?
Commerce Ministry has no regrets about signing the much delayed transit trade deal with Afghanistan. "We believe that the deal with Afghanistan is in the national interest and General Head Quarters (GHQ) and Inter Services Intelligence (ISI) were completely on board before the finalisation of the deal," said one of the officials of the Commerce Ministry who was close to the negotiators more... (BR)

Food exports hop 8.7pc
Pakistan food exports surged 8.7 per cent in the last fiscal year 2009-10 against the same period of the last year, Federal Bureau of Statistics (FBS) reported Monday more... (TFD)

 

 

 

 

Politics

18th Amendment weakened provinces’ autonomy: Pirzada
A constitutional lawyer argued before the Supreme Court on Monday that the 18th Amendment had weakened provinces’ autonomy and that the court had the power to strike down any amendment after a “judicious review” .more... (D)

Clinton announces major aid projects for Pakistan
The United States on Monday rolled out a series of development projects in energy, water, health and education under an 'elevated and extended' US-Pakistan strategic dialogue. US Secretary of State Hillary Clinton addressing a joint press more... (BR)

Security of vehicles: Pakistan won't deploy forces
Pakistan will not deploy its forces for security of vehicles to be used in Afghan-Pakistan Transit Trade, but satellite tracking technology will be used to ensure the security of these vehicles. Every vehicle, which will pick cargo from Wahgah or Karachi Port will have an electronic-chip which will be monitored through satellite, instead of deployment of security personnel on a route which is difficult to police, sources in the Interior Ministry said more... (BR)

 

 

 

 

 

Sector Briefing

Above $10bn oil imported in FY10
Up by 6.1pc YoY, Country's oil import bill increased by 6.1 per cent to $10.09 billion during the last fiscal year 2009-10 against $9.51 billion in the corresponding period of the previous year, as per the Federal Bureau of Statistics (FBS) data more... (TFD)

Ex-works: refineries, OMCs may be allowed to fix sale prices
The Economic Co-ordination Committee (ECC) is likely to allow refineries and Oil Marketing Companies (OMCs) to fix and announce on monthly basis the ex-refinery and ex-depot sale prices at their own on competitive basis, official sources told Business Recorder. The sources said Ministry of Petroleum and Natural Resources had submitted a summary to the ECC, which was considered on July 1, 2010. more... (BR)

TCP chief backs direct deal with Dubai-based refinery through DEDC
Chairman Trading Corporation of Pakistan (TCP), S Anjum Bashir has reportedly supported a direct deal with a Dubai-based sugar refinery through Dubai Export Development Corporation (DEDC) to avert the looming sugar crisis in the country more... (BR)

 

KSE Notices

Engro Corporation Limited
Board of Directors Meeting for Engro Corporation Limited is scheduled to be held on July 28, 2010 at 09.30am more... (KSE)

Pakistan Petroleum Limited

Board of Directors Meeting for Pakistan Petroleum Limited is scheduled to be held on August 6, 2010 at 11.00am more... (KSE)

Dawood Hercules Chemicals Limited

Board of Directors Meeting for Dawood Hercules Chemicals Limited is scheduled to be held on July 27, 2010 at 03.30pm more... (KSE)

Colgate Palmolive Pakistan Limited

Board of Directors Meeting for Colgate Palmolive Pakistan Limited is scheduled to be held on July 26, 2010 at 09.00am more... (KSE)

 

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