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July 23, 2010
Statistics
KSE-100 Index
Previous Index 10,234.03
Current Index 10,228.86
Change % (0.05%)
YTD (CY10) 8.97%
YTD (FY11) 5.21%

International Indicators
  Close %age
BSE-30 18113.15 0.76
HANGSENG 20,589.70 0.50
NIKKEI 255 9,220.88 (0.60)
FTSE 5,313.81 1.90
DJIA 10322.30 (1.99)
SSEC 2,572.26 1.23
NASDAQ 2,245.89 2.68

SCRA
July 21, 2010 2.35
June, 2010 68.40
YTD (FY10) 22.01

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 109.45
PKR/GBP 130.08
PKR/USD 85.70
PKR/OMR 221.35

Commodities
Oil $79.11/barrel
Change in % 3.67%
Gold $1195.20/ounce
Change in % 0.80%

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 22, 2010) $16.70bn
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 16, 2010) Rs4,668bn

NAVs and Returns
as of July 22, 2010
Funds Offer Redemption
POBOP 46.6610/- 46.1944/-
Daily Return (59.53%)
POAIIF 50.8858/-   50.3769/-
Daily Return 7.67%
POAIF 54.31/- 52.95/-
Daily Return 69.06%
POASF 53.07/- 51.74/-
Daily Return 70.68%
POAF 11.0517 /-
Daily Return (5.15%)
*Daily Returns are calculated as per MUFAP guidelines

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

PM seeks focus on economic recovery
Prime Minister Syed Yousuf Raza Gilani has said that the focus of economic management should remain on protecting the economic recovery, checking the rise of prices and ensuring that benefits of better economic management are seen and received by the citizens as well as all the regions of the country more... (TFD)

Low savings and high debt stock constraining investment: Hafeez briefs Prime Minister
The Ministry of Finance on Thursday informed the government that low domestic savings and high debt stock have been constraining the medium-term investment, sources told Business Recorder. Sources said Finance Minister Dr Abdul Hafeez Sheikh informed Prime Minister Syed Yousuf Raza Gilani that without domestic resource investment would not take off and consequently shun the prospects of growth more... (BR)

Pakistan misses tax-to-GDP ratio of 9.2pc, manages 8.9pc: FBR chairman
Pakistan barely managed 8.9 percent tax-to-GDP ratio in fiscal 2009/10 (July-June), missing the target of 9.2 percent set by the International Monetary Fund (IMF), a top revenue body official said on Thursday more... (N)

 

 

 

 

 

 

Politics

US makes a pitch for better Indo-Pak ties
The US Thursday said its improving relationship with India and Pakistan is in the interests of both countries as it pitches for better ties between New Delhi and Islamabad.US Secretary of State Hillary Clinton spoke of her desire for India to improve relations with Pakistan when she met External Affairs Minister S M Krishna in Kabul two days ago, US Special Envoy for Afghanistan and Pakistan Richard Holbrooke told reporters here, reported IANS more... (TFD)

India shakes hands on co-telemetry of rivers
Indus Water Commissioner Jamaat Ali Shah has said reply from Indian side on the changes in Nimo Bazgo Dam is still in pending, adding water commissioners of both Pakistan and India have agreed on the installation of telemetry system more... (TFD)

Kayani to stay on as COAS till 2013
Gen Kayani, who was scheduled to retire on November 28, 2010, will hence stay on to command the army for another full term.
With this development came to an end the speculations rife since last year that he could win an extension more... (D)

 

 

 

Sector Briefing

SBP invites bids for PRI
State Bank of Pakistan (SBP) on behalf of Pakistan Remittance Initiative (PRI) has invited technical proposals from prospective bidders on or before August 9, 2010 more... (TFD)

EDF board approves 10 projects worth Rs 1.271 billion
more...(BR)

President reviews progress on Zulfikarabad city, agriculture projects
President Asif Ali Zardari, who arrived in Karachi late Wednesday night, presided over two high level meetings at Bilawal House to review progress on the new proposed city of Zulfikarabad in Thatta, and on industrial and agricultural demonstration zones in the province more... (BR)

 

KSE Notices

Abbott Laboratories (Pakistan) Limited
Financial Results for the Half-year ended May 31, 2010 have been announced. PAT:PKR339mn EPS: PKR3.46 Cash Dividend: PKR2.00 per share more... (KSE)

Rafhan Maize Products Company Limited
Financial Results for the Half-year and Quarter ended June 30, 2010 have been announced. PAT:PKR556mn EPS: PKR60.14 Cash Dividend: PKR25.00 per share more... (KSE)

Netsol Technologies Limited
Netsol Technologies Limited has clarified the concerns of its shareholders concerning aquisition of Netsol Technologies Europe Limited and Netsol Technologies North Amaerica Inc. stating that it would improve shareholders' wealth. more... (KSE)

Mitchells Fruit Farms Limited
Board Of Directors Meeting for Mitchells Fruit Farms Limited is scheduled to be held on July 28, 2010 at 11.30am more... (KSE)

Shakarganj Mills Limited
Board Of Directors Meeting for Shakarganj Mills Limited is scheduled to be held on July 28, 2010 at 11.30am 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.