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July 29, 2010
 
Statistics
KSE-100 Index
Previous Index 10,386.82
Current Index 10,436.29
Change % 0.48%
YTD (CY10) 11.18%
YTD (FY11) 7.35%

International Indicators
  Close %age
BSE-30 17,957.37 (0.67)
HANGSENG 21,091.18 0.60
NIKKEI 255 9,753.27 2.70
FTSE 5,319.68 (0.90)
DJIA 10,497.88 (0.38)
SSEC 2646.85 1.84
NASDAQ 2,264.56 (1.04)

SCRA
July 27, 2010 8.50
June, 2010 68.40
YTD (FY10) 25.13

Money Market Updates
6m T-bill 28-Jul-10 12.33%
12m T-bil 28-Jul-10 12.45%
3m KIBOR 12.33%
6m KIBOR 12.41%
10 yrs PIB 12.97%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 111.34
PKR/GBP 133.49
PKR/USD 85.70
PKR/OMR 221.54

Commodities
Oil $77.12/barrel
Change in % (0.22)
Gold $1168.40/ounce
Change in % 0.16

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 23, 2010) Rs4,646bn

NAVs and Returns
as of July 28, 2010
Funds Offer Redemption
POBOP 46.9509/- 46.4814/-
Daily Return 7.16%
POAIIF 50.9496/-   50.4401/-
Daily Return 7.90%
POAIF 55.09/- 53.71/-
Daily Return 177.55%
POASF 53.92/- 52.57/-
Daily Return 195.45%
POAF 11.0698 /-
Daily Return 10.88%
*Daily Returns are calculated as per MUFAP guidelines

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

Panel to finalise new GST in 2wks
The special meeting of Economic Coordination Committee (ECC) chaired by Prime Minister Syed Yousuf Raza Gilani on Wednesday constituted a special committee -- headed by the finance minister and comprising the finance secretaries and experts of all the provinces -- to finalise, within two weeks, the reformed general sales tax (GST). more... (TFD)

Rs10bn released for PSM bailout
The federal government has released Rs10 billion bailout package for cash-starved Pakistan Steel Mills, it was reliably learnt here on Wednesday.
The Ministry of Industries & Production had submitted a summary with the Economic Coordination Committee (ECC) of the cabinet for immediate Rs17.53 billion bailout package, warning that otherwise the Pakistan Steel Mills (PSM) will be shut down within four weeks more... (TFD)

RBS acquisition: SBP grants NOC to Faysal Bank'
The State Bank of Pakistan (SBP) on Wednesday granted No Objection Certificate (NOC) to Faysal Bank Limited for the purchase of Royal Bank of Scotland Pakistan operation. Faysal Bank Limited (FABL) has already entered into an agreement to acquire 99.37 percent interest in the Pakistan franchise of Royal Bank of Scotland (RBS Pakistan) for a cash consideration of EUR 41 million (equivalent to Rs 4.298 billion @ Rs 2.52 per share) more... (BR)

 

 

 

 

 

Politics

Merger of FIA, NAB proposed
The federal government is likely to establish a new autonomous anti-corruption institution for accountability in public sector enterprises, sources said more... (T)

SECP’s amnesty scheme proves a hit
The Securities and Exchange Commission of Pakistan (SECP) has received an overwhelming response to its amnesty scheme for regularisation of belated returns and easy exit facility to dormant companies.
The schemes were launched on July 1, 2010 for three months. Under the Company Regularization Scheme (CRS) some 250 companies have regularised their defaults and have filed 700 returns by July 27, 2010 more... (TFD)

PML-N to emerge powerful: Raja Farooq
Outgoing Azad Kashmir Prime Minister Raja Farooq Haider was accorded a rousing welcome by his supporters and sympathisers as he returned to the state capital on Wednesday, a day after PML-N leader Nawaz Sharif decided in his presence to launch and organise his party in AJK more... (D)

 

 

 

 

Sector Briefing

ECC meeting today: decision on sugar procurement by private sector likely
The Economic Co-ordination Committee (ECC) of the Cabinet which is scheduled to meet on Thursday (July 29) with Finance Minister Dr Hafeez Sheikh in the chair will decide whether to allow white sugar procurement by the private sector, import of 0. 5 million tons raw sugar and increase in price of sugar at USC outlets, sources close to Secretary Industries told Business Recorder more... (BR)

BP aims for quick well kill; weighs asset sales

BP Plc may permanently shut the well that caused the worst off-shore oil spill in US history as early as Monday, the company said as speculation grew over assets it might sell to cover mounting costs. more... (D)

OGIL granted exploration licence
The government on Wednesday granted an exploration licence to Oil and Gas Investments Limited (OGIL) for Block No 2667-12 (Baran) located in Sindh. The latter will make an initial investment of $5.2 million at the exploration stage more... (BR)

KSE Notices

Habib Bank Limited
Financial Results for the Half Year ended June 30, 2010 for Habib Bank Limited have been declared. PAT = PKR7.4mn EPS = PKR7.41 more... (KSE)

Seimens Pakistan Engineering Co. Limited
Board meeting will start at 3.30 (Dubai Time) on July 29, 2010 to discuss the financial results of the period ended on June 30, 2010 more... (KSE)

Engro Corporation Limited.
Financial Results for the Half Year ended June 30, 2010 for Engro Corporation Limited have been declared. PAT = PKR1392mn EPS = PKR4.6 Dividend = PKR2.00. 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.