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July 27, 2010
 
Statistics
KSE-100 Index
Previous Index 10,296.04
Current Index 10,297.68
Change % 0.02%
YTD (CY10) 9.70%
YTD (FY11) 5.92%

International Indicators
  Close %age
BSE-30 18,020.05 (0.61)
HANGSENG 20,839.91 0.12
NIKKEI 255 9,503.66 0.77
FTSE 5,351.12 0.70
DJIA 10,525.43 0.97
SSEC 2,579.50 0.78
NASDAQ 2,296.43 1.19

SCRA
July 23, 2010 1.29
June, 2010 68.40
YTD (FY10) 25.13

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 12.39%
10 yrs PIB 12.97%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 110.75
PKR/GBP 134.43
PKR/USD 85.65
PKR/OMR 221.54

Commodities
Oil $78.95/barrel
Change in % (0.34)
Gold $1188.40/ounce
Change in % (0.37)

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 170.09mn
US$ Reserves (July 23, 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 26, 2010
Funds Offer Redemption
POBOP 46.9331/- 46.4638/-
Daily Return 9.89%
POAIIF 50.9532/-   50.4437/-
Daily Return 14.66%
POAIF 54.19/- 52.84/-
Daily Return (68.95%)
POASF 52.98/- 51.66/-
Daily Return (21.18%)
POAF 11.0633 /-
Daily Return 0.08%
*Daily Returns are calculated as per MUFAP guidelines

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

Cut expenditure, increase revenue, IMF tells government
The International Monetary Fund (IMF) has asked the government to curtail its expenditure and increase revenue for repayment of its loan given to Pakistan under Stand-by-arrangement (SBA), officials of Finance Ministry said on Monday. They said that the IMF like any bank wanted guarantee that its money would be paid back and the emphasis of its delegation during the talks was that the government should control its expenditure and increase revenue to make it happen. more... (BR)

USC sugar turns pricier by Rs10/kg
The Government has increased the sale price of sugar at Utility Stores Corporation's outlets by Rs 10 per kg with immediate effect. A decision to this effect was taken at a meeting of the Ministerial Committee of the ECC on Sugar here on Monday more... (TFD)

'Trade Policy should be framed in consultation with businessmen'
Chairman Board of Investment (BoI) Saleem Mandviwala has said the government should make its economic and trade policies in consultation with the business community and other stake-holders. "We have to take on board the stake-holders when we make policies regarding investments and other economy related matters," said Mandviwala while taking to businessmen after the inauguration of Information Resource Center at the Rawalpindi Chamber of Commerce and Industry (RCCI) on Monday. more... (BR)

 

 

 

Politics

Raja Farooq Haider resigns as AJK premier
Azad Kashmir Prime Minister Raja Farooq Haider resigned on Monday to avoid a no-confidence motion which was to be taken up by the AJK assembly on Tuesday. The dramatic development, analysts say, may lead to new alliances and block the way for Sardar Atique Ahmed Khan, the main aspirant for the job and president of the ruling All Jammu and Kashmir Muslim Conference more... (D)

Leaks show secret Pakistan role: Afghan official
A massive cache of leaked Pentagon documents on the Afghan war highlights the role that Pakistan's intelligence service plays in destabilising Afghanistan, the president's spokesman said Monday. Kabul has long accused Islamabad of providing support and sanctuary for militant groups that plan, fund and carry out attacks in Afghanistan more... (BR)

Gilani stresses on credible deterrence
Prime Minister Syed Yousuf Raza Gilani Monday said Pakistan harbours no aggressive designs against any state but was determined to defend its territorial integrity and sovereignty, "we therefore, need to maintain conventional forces adequately supplemented by credible deterrence; PM Gilani said this while addressing the soft launch of IDEAS-2010, here at the Pakistan National Council of Arts more... (TFD)

 

 

 

 

 

Sector Briefing

Yarn export to go duty-free
Shaikh chairs meeting of cabinet committee on textiles. Regulatory duty on export period expires on 26th Yarn domestic availability to be monitored more... (TFD)

OGDC drills get lucky again

Oil, gas outoput from Rajian-5 field doubles. The Oil and Gas Development Company Limited (OGDCL) has recently found additional oil and gas in the fifth well drilled in the Rajian Oilfield more... (TFD)

Power tariff raised by 64 paisa per unit
The National Electric Power Regulatory Authority (Nepra) has once again increased power tariff by 64 paisa per unit. According to sources in Nepra, the tariff was raised under the monthly fuel adjustment formula, and will be implemented from July 1. The consumers will have to pay this additional fuel surcharge in their electricity bills for August more... (BR)

KSE Notices

Shell Pakistan Limited
Board of Directors meeting for Shell Pakistan Limited will be held on August 17, 2010 at 10.00am more... (KSE)

GlaxoSmithKline Pakistan Limited
Board of Directors meeting for GlaxoSmithKline Pakistan Limited will be held on July 29,2010 at 10.00am more... (KSE)

Indus Motor Company Limited
Board of Directors Meeting for Indus Motor Company Limited will be held on August 27,2010 at 10.00am more... (KSE)

Invest Capital Investment Bank Limited
Board of Directors Meeting for Invest Capital Investment Bank Limited will be held on July 29, 2010 at 02.00pm more... (KSE)

Arif Habib Investments & Funds
Board of Directors Meeting for Arif Habib Investments & Funds will be held on August 4, 2010 at 10.00am. more... (KSE)

Tariq Glass Industries Limited
Board of Directors Meetign for Tariq Glass Industries Limited will be held on August 02, 2010 at 11.00am more... (KSE)

Wyeth Pakistan Limited
Financial Results for the Second Quater & Six Months Period ended May 31, 2010. Six Month ended: LAT = PKR7.11mn LPS = PKR5.00 Second Quater ended: LAT = PKR27.34mn LPS = PKR19.22. more... (KSE)

Lakson Tobacco Company Limited
Board of Directors Meetign for Lakson Tobacco Company Limited will be held on August 02, 2010 at 11.00am more... (KSE)

Colgate Palmolive Pakistan Limited
Financial Results for the year ended June 30, 2010 for Colgate Palmolive Pakistan Limited have been declared. PAT = PKR1,151.64mn EPS = PKR4.91 Cash Divedend = PKR13.50 pershare 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.