BasedLine
LOGO
July 22, 2010
Statistics
KSE-100 Index
Previous Index 10,251.53
Current Index 10,234.03
Change % (0.17%)
YTD (CY10) 9.02%
YTD (FY11) 5.26%

International Indicators
  Close %age
BSE-30 17,977.23 0.55
HANGSENG 20,487.23 1.10
NIKKEI 255 9,278.83 (0.20)
FTSE 5,214.64 1.50
DJIA 10,120.45 (1.07)
SSEC 2,541.07 0.47
NASDAQ 2,187.33 (1.58)

SCRA
July 20, 2010 1.02
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 12.31%
6m KIBOR 12.40%
10 yrs PIB 13.06%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 110.38
PKR/GBP 130.85
PKR/USD 85.70
PKR/OMR 221.25

Commodities
Oil $76.31/barrel
Change in % (1.56%)
Gold $1185.70/ounce
Change in % (0.24%)

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 21, 2010
Funds Offer Redemption
POBOP 46.7759/- 46.3081/-
Daily Return 7.18%
POAIIF 50.8755/-   50.3667/-
Daily Return 7.59%
POAIF 54.21/- 52.85/-
Daily Return (75.81)%
POASF 52.96/- 51.64/-
Daily Return (84.62%)
POAF 11.0533 /-
Daily Return (31.67%)
*Daily Returns are calculated as per MUFAP guidelines

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

GDP on hop, but not off the hook: Shaikh
Jean Maurice Ripert, special envoy of the United Nation Secretary General for Assistance to Pakistan called on the Federal Minister for Finance, Dr Abdul Hafeez Shaikh here on Wednesday. During the meeting Dr Shaikh briefed Ripert about the economic situation of Pakistan more... (TFD)

Profit repatriation rises 1.5pc in FY10
Repatriation of profit by the foreign companies from the country surged by 1.5 per cent in the fiscal year 2010, putting further pressure on an already weakened rupee, according to the State Bank of Pakistan data on sector-wise profit repatriation more... (TFD)

China cos to invest $10bn in Pakistan
Chinese mega corporations will make an investment of over $10 billion in three major sectors of Pakistan not only to pace up the economic growth but also assist the country in addressing its energy crisis; it was reliably learnt here Wednesday. A dozen of Chinese firms, mainly dealing in power and energy generation, proposed to President Asif Ali Zardari in his last visit that they are ready to invest in power and energy generation, which are severely hit because of the lack of resources and financial constrains, an official of the Board of Investment told NNI requesting anonymity more... (TFD)

 

 

 

 

Politics

Gilani for joint Pak-Afghan border monitoring
Prime Minister Syed Yousuf Raza Gilani on Wednesday emphasized the need for joint monitoring of Pak-Afghan border and increased sharing of information on the cross border movement of militants and terrorists between Pakistan and Nato-ISAF more... (BR)

FIA trying to shield tycoon in PSM probe, SC told
The monotony of the technical and sleep-inducing Supreme Court proceedings on the decline of the Pakistan Steel Mills (PSM) was broken by some startling remarks made by defence lawyer Khalid Anwar on Wednesday. more... (D)

Abid urges ECP, judiciary to play role in degrees issue
Chairman National Assembly (NA) Standing Committee on Education Abid Sher Ali urged Election Commission of Pakistan (ECP) and the judiciary to come forward and take appropriate action against what he termed the ‘tactics’ to do away with the fake degrees issue more... (N)

 

 

 

 

 

 

Sector Briefing

PSO receivables swell to Rs 133.27 billion: finance ministry told
The cash-strapped Pakistan State Oil (PSO) on Wednesday informed the Finance Ministry that its receivables against different clients have swelled to an alarming level of Rs 133.27 billion that may lead to default on fuel suppliers, Business Recorder has learnt more... (BR)

Limiting cotton purchase for two months: PCF rejects 'vague' proposal
Chairman Pakistan Cotton Forum (PCF), Seth Muhammad Akbar said categorically that no intervention to free market mechanism beyond July 26 will be acceptable to growers, ginners, spinners and organised value added textile manufacturers. Vested interest element, represented by a few, should, therefore, stop maligning other sectors of textile industry simply to serve their personal interests more... (BR)

500 megawatts electricity may be purchased: projects failing to achieve COD on time

Government is likely to purchase 500 MW electricity from power projects that failed to achieve commercial operation date (COD), well-informed sources in PPIB told Business Recorder . Energy Summit held on April 19-20, 2010 in Islamabad was chaired by the Prime Minister and attended by Federal Ministers, Chief Ministers, their delegates, representatives of World Bank, IMF, ADB, USAID and local organisations including Pepco, KESC, PPIB, AEDB, SSGC and SNGPL more... (BR)

 

KSE Notices

Atlas Honda Limited
Meeting of the Board of Directors of Atlas Honda Limited is scheduled be held at 12.00 pm on July 29, 2010 more... (KSE)

Wateen Telecom Limited
Extra Ordinary General Meeting of Wateen Telecom Limited is scheduled to be held on August 13, 2010 at 11.00am more... (KSE)

Azgard Nine Limited

Extra Ordinary General Meeting of Azgard Nine Limited is scheduled to be held on July 23, 2010 at 10.30am more.. (KSE)

Fauji Fertilizer Company Limited

Meeting of the Board of Directors of Fauji Fertilizer Company Limited is scheduled to be held at 11.00 am on July 29, 2010 more... (KSE)

Exide Pakistan Limited

Meeting of the Board of Directors of Exide Pakistan Limited is scheduled to be held at 03.30 pm on July 29, 2010 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.