BasedLine
LOGO
July 28, 2010
 
Statistics
KSE-100 Index
Previous Index 10,297.68
Current Index 10,386.82
Change % 0.86%
YTD (CY10) 10.65%
YTD (FY11) 6.84%

International Indicators
  Close %age
BSE-30 18,077.61 0.32
HANGSENG 20,973.39 0.60
NIKKEI 255 9,496.85 (0.10)
FTSE 5,365.67 0.30
DJIA 10,537.69 0.12
SSEC 2,599.00 0.76
NASDAQ 2,288.25 (0.36)

SCRA
July 26, 2010 0.90
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 111.43
PKR/GBP 132.72
PKR/USD 85.70
PKR/OMR 221.54

Commodities
Oil $77.29/barrel
Change in % (2.1)
Gold $1166.50/ounce
Change in % (1.84)

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 170.12mn
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 27, 2010
Funds Offer Redemption
POBOP 46.9420/- 46.4726/-
Daily Return 7.16%
POAIIF 50.9390/-   50.4296/-
Daily Return 7.97%
POAIF 54.82/- 53.45/-
Daily Return 421.37%
POASF 53.63/- 52.29/-
Daily Return 445.12%
POAF 11.0665 /-
Daily Return 10.56%
*Daily Returns are calculated as per MUFAP guidelines

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

Microfinance banks allowed gold as cash collateral
The State Bank of Pakistan (SBP) on Tuesday allowed microfinance banks to treat gold as cash collateral, a statement said. The central bank amended prudential regulations for the microfinance banks. According to it, the SBP decided that in addition to cash collateral, gold.... more... (N)

Revenue body to get $16m DFID grant
The UK-based Department for International Development (DFID) plans to provide $16 million grant to the Federal Board of Revenue (FBR) for reforms in the areas of Information Technology and Human Resource development, The News learnt on Tuesday.more... (N)

PSDP projects: PC to be empowered to release funds'
Finance Ministry has decided to empower Planning Commission to release funds for development projects in Public Sector Development Programme (PSDP) with the objective of reducing the throw forward liability of Rs 3 trillion by 20 to 30 percent, Business Recorder has reliably learnt. The final decision is expected to be made by the first week of August 2010. . more... (BR)

 

 

 

 

 

 

Politics

Govt comes up with tougher anti-terror law
The government brought a tougher anti-terror law to parliament on Tuesday in an urgent response to a new wave of violence in the country, with Interior Minister Rehman Malik showing both an iron fist and an olive branch to Baloch insurgents more... (D)

Shahbaz defends Mastikhel resolution, again
The Punjab government has always respected the freedom of the press and will continue to do so in the future, Chief more... (T)

Attique nominated for post of AJK prime minister
All Jammu and Kashmir Muslim Conference president Sardar Attique Ahmed Khan was nominated by lawmakers of his party and an allied group on Tuesday for the post of leader of the AJK Legislative Assembly in place of Raja Farooq Haider who resigned on Monday to avoid a no-confidence motion. more... (D)

 

 

 

 

 

 

Sector Briefing

PSO threatens to cut fuel supply toWAPDA, IPPs on non-payment
Pakistan State Oil (PSO) has threatened to stop supplying fuel to public and private power companies which fail to clear their dues by the end of the month, a company official said on Tuesday. “PSO has sent ultimatums to Water and Power Development Authority, Hub Power Company and Ko more... (N)

Reduction in oil prices up to Rs 2.5 per litre likely

The government is expected to cut oil prices up to Rs 2.5 per litre in line with reduction in global oil prices effective August 1, 2010, Business Recorder has learnt. Sources said the impact of declining trend in global oil prices was 1.5 to 2 percent which could result in reduction in domestic oil prices from Rs 2 to Rs 2.5 per litre.
more... (BR)

Tight Gas Policy on ECC’s table within a week
The Tight Gas Policy 2010 that seeks to bolster production from existing reserves will be presented to the Economic Coordination Committee of the Cabinet for approval within a week, a senior official told The News on Tuesday. The policy aims to provide incentives to petroleum explor more... (N)

KSE Notices

Pakistan State Oil Company Limited
Board of Management meeting of Pakistan State Oil Company Limited is scheduled to be held on August 06, 2010 at 10.00am more... (KSE)

Fauji Fertilizer Bin Qasim Limited
Financial Results for the Half Year ended June 30, 2010 for Fauji Fertilizer Bin Qasim Limited have been declared. PAT = PKR1,722.01mn EPS = PKR1.84 Cash Divedend = PKR1.30 pershare more... (KSE)

The Thal Industries Corporation Limited
Financial Results for the year ended June 30, 2010 for The Thal Industries Corporation Limited have been declared. PAT = PKR76.88mn EPS = PKR5.11 more... (KSE)

Dawood Hercules Chemicals Limited
Financial Results for the Half Year ended June 30, 2010 for Fauji Fertilizer Bin Qasim Limited have been declared. PAT = PKR948.92mn EPS = PKR7.89 Cash Divedend = PKR2.00 pershare more... (KSE)

Attock Cement Pakistan Co.
Negotiations for acquisition of shares of Al-Abbas Cement Industries Limited have been terminated and as such Attock Cement Pakistan Co. is not interested in acquiring the majority shares of Al-Abbas Cement Industries Limited. more... (KSE)

MCB Bank Limited
Board of Directors meeting of MCB Bank Limited will be held on August 5, 2010 at 02.00pm 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.