BasedLine
LOGO
July 21, 2010
Statistics
KSE-100 Index
Previous Index 10,201.85
Current Index 10,251.53
Change % 0.49%
YTD (CY10) 9.21%
YTD (FY11) 5.45%

International Indicators
  Close %age
BSE-30 17,928.42 0.15
HANGSENG 20,264.59 0.90
NIKKEI 255 9,300.46 (1.20)
FTSE 5,139.46 (0.20)
DJIA 10,229.96 0.74
SSEC 2,529.07 3.42
NASDAQ 2,222.49 1.10

SCRA
July 19, 2010 1.46
June, 2010 68.40
YTD (FY10) 18.64

Money Market Updates
6m T-bill 14-Jul-10 12.32%
12m T-bil 14-Jul-10 12.44%
3m KIBOR 12.32%
6m KIBOR 12.40%
10 yrs PIB 13.06%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 111.18
Rs/UK 130.81
Rs/US 85.75
Rs/OR 221.25

Commodities
Oil $77.52/barrel
Change in % 1.06%
Gold $1188.50/ounce
Change in % 0.43%

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 170.06mn
US$ Reserves (July 09, 2010) $16.63bn
Trade Balance (Jul-Jun 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 20, 2010
Funds Offer Redemption
POBOP 46.7670/- 46.2993/-
Daily Return 7.18%
POAIIF 50.8653/-   50.3566/-
Daily Return 7.60%
POAIF 54.32/- 52.96/-
Daily Return 180.08%
POASF 53.09/- 51.76/-
Daily Return 191.40%
POAF 11.0593 /-
Daily Return 11.98%
*Daily Returns are calculated as per MUFAP guidelines

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

BIT in its present format: US refuses to resume talks
United States of America (USA) has reportedly refused to resume negotiations with Pakistan on the much talked about Bilateral Investment Treaty (BIT) in its present format, said well-informed sources in Board of Investment (BoI) more... (BR)

US aid can lessen, but not remove Pakistan mistrust
US Secretary of State Hillary Clinton's pledge for new development projects for Pakistan is an important step to win favour with its sceptical people but may not be enough to overcome deep mistrust and anti-American sentiment. Clinton this week announced a raft of development projects for Pakistan, a vital ally for the United States in its efforts to stabilise neighbouring Afghanistan but where anti-American sentiment runs high more... (BR)

Nepra to fix tariff for buying power
The Economic Coordination Committee of the Cabinet (ECC) Tuesday, met under the chair of Minister for Finance Dr Abdul Hafeez Shaikh, took stock of various economic issues.
According to the details, The Committee reviewed the tariff structure for the purchase of electricity from private power producers, and empowered Nepra to determine the tariff for purchase of power from independent power producers (IPPs) more... (TFD)

 

 

 

 

Politics

Transit trade agreement: government to take stakeholders on board, says Gilani
Prime Minister Syed Yusuf Raza Gilani has said that government will take into confidence all the coalition partners regarding Pakistan-Afghan Transit Trade negotiations and Pakistan-US strategic dialogue. Pursuance of the reconciliatory approach, he said has strengthened the democratic process in the country and created a friction-less political milieu to pursue public welfare agenda more... (BR)

Pakistan tears apart India blames
The Foreign Office Spokesman strongly refuted the reported assertions made by India's National Security Advisor Shivshankar Menon on Tuesday, alleging links between Pakistan's establishment and David Headley more... (TFD)

Six shot dead in Karachi
Incidents of targeted killings continued in the city unabated claiming six more lives on Tuesday, according to a private TV channel. Fresh incidents have occurred in Malir, Orangi Town, and Gulistan-e-Jauhar areas of the metropolis more... (TFD)

 

 

 

 

 

Sector Briefing

British Petroleum exiting Pakistan
British Petroleum plans to divest its exploration and production operations in Pakistan, as part of a plan to sell global assets to help pay for the worst oil spill in US history, an industry source said on Tuesday more... (TFD)

ECC forms body to estimate sugar needs
The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday constituted a powerful ministerial level committee to decide in three days how much sugar to be imported for Ramazan and rest of the season. Briefing the media about the decisions taken in the ECC meeting, Secretary Finance Salman Siddique said the provinces have agreed in the meeting on taking administrative measures, in case of hoarding, to ensure availability of the commodity in the market more... (BR)

Pakistan's seafood exports fetch 17pc higher per unit price
Pakistan's seafood exports received 17 percent higher per unit price in 2009-10 compared with 2008-09, but the quantity of export declined by 11.13 percent, Federal Bureau of Statistics. Pakistan's seafood export went down by 11.13 percent to 113,219 tons from 127,393 tons more... (N)

 

KSE Notices

Nishat (Chunian) Limited
Extra Ordinary General Meeting for Nishat (Chunian) Limited is scheduled to be held on July 28, 2010 at 09.30am more... (KSE)

Dewan Sugar Mills Limited
Board of Directors Meeting for Dewan Sugar Mills Limited is scheduled to be held on July 28, 2010 at 04.30pm 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.