Aug 18 , 2010
KSE-100 Index
Previous Index 9,537.13
Current Index 9,677.89
Change % 1.48%
YTD (CY10) 3.10%
YTD (FY11) (0.45)%

International Indicators
  Close %age
BSE-30 18,048.85 (0.01)
HANGSENG 21,137.43 0.12
NIKKEI 255 9,161.68 (0.40)
FTSE 5,350.55 1.40
DJIA 10,405.85 1.01
SSEC 2663.91 (0.15)
NASDAQ 2,209.44 1.26

August 16 , 2010 6.79
August, 2010 35.31
YTD (FY10) 65.70

Money Market Updates
6m T-bill 11-Aug-10 12.65%
12m T-bil 11-Aug-10 12.78%
3m KIBOR 12.68%
6m KIBOR 12.81%
10 yrs PIB 13.54%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 110.09
PKR/GBP 134.35
PKR/USD 85.75
PKR/OMR 220.3

Oil $75.62/barrel
Change in % 0.49
Gold $1,227.60/ounce
Change in % 0.22

CPI Gen. - YoY (Jul-10) 12.34%
CPI Gen. - FY11 (Jul 10) 13.34%
NFNE Core INFL - YoY (Jul-10) 10.3%
NFNE Core INFL - FY11 (Jul-10) 10.3%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 170.29mn
US$ Reserves (Aug 6, 2010) $16.46bn
Trade Balance (Jul-Jun 10) $(1.45)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Jul 10) $791.18bn
Foreign Investment (Jul -Jun-10) $2.14bn
All Sch. Banks Deposit Base (July 23, 2010) Rs4,646bn

NAVs and Returns
as of August 17, 2010
Funds Offer Redemption
POAIIF 51.1364/-   50.6250/-
Daily Return 7.79%
POAIF 53.12/- 51.79/-
Daily Return 97.09%
POASF 52.00/- 50.70/-
Daily Return 84.57%
POAF 11.2353 /-
Daily Return 10.96%
*Daily Returns are calculated as per MUFAP guidelines

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

Rs 30 billion-35 billion weekly loss: floods have negatively impacted revenue collection
The Federal Board of Revenue (FBR) has provisionally collected Rs 24 billion up to August 16 as compared to Rs 26 billion collected in the corresponding period of last fiscal year, reflecting that devastating floods have negatively impacted revenue collection machinery. Sources told Business Recorder here on Tuesday that the flood in the country has gradually started squeezing the overall revenue collection during August. more... (BR)

Impact of floods on exports: MoC yet to start assessment
The Commerce Ministry is yet to start assessment of floods' impact on exports, which showed around 23 percent growth in July 2010. The Ministry is holding internal meetings to finalise the presentation on Trade Policy 2010-11 to be given to Prime Minister Yousaf Raza Gilani, probably next week. more... (BR)

Jul C/A deficit falls to $635mn

Pakistan’s current account deficit has contracted marginally by 1.6 per cent to $635 million during July 2010 - first month of the current fiscal year 2010-11 from $645 million during same period last year, the State Bank of Pakistan reported Tuesday. more... (TFD)







UN appeals for urgent funds Rehabilitation to cost $15bn
The cost of rehabilitation after devastating floods could exceed to $15 billion, Pakistan High Commissioner to Britain Wajid Shamsul Hasan said.
“This was a rough estimate because an assessment of the extent of the damage caused by the floods -- which have affected 20 million people -- had yet to be carried out. But the number gave an indication of the scale of the reconstruction needed after the floods swept away roads, bridges and telecommunications, and destroyed crops for food supplies, exports and cotton for its vital textile industry.” "It will take at least five years," the High Commissioner told Reuters in an interview. more... (TFD)

Russia hosts Karzai, Zardari for Afghan summit
OCHI, Russia on Wednesday hosts Pakistan's embattled President Asif Ali Zardari and Afghan leader Hamid Karzai for a regional summit expected to focus on security in Afghanistan. more... (D)

Zardari says time not right for politicking

President Asif Ali Zardari has urged the Non-Governmental Organisations (NGOs) and philanthropists to join hands with the government to supplement its efforts in the relief works being carried out for the flood victims of the country. more... (BR)







Sector Briefing

FFC eyes major stake in Agritech
auji Fertiliser Company (FFC) has shown interest to acquire shares of Agritech Limited up to 79.85 per cent or control of company, as per the notice issued to Karachi Stock Exchange (KSE). However acquisition price has not been notified so far and Habib Bank Limited has been appointed as manager to the offer. more... (TFD)

PSO questions transparency of TI Pakistan
With respect to the news story "Non-compliance of procurement law: TI Pakistan serves notice on PSO to withdraw from MoU" carried by Business Recorder on Tuesday August 17th, 2010, Pakistan State Oil (PSO) categorically denies the allegations and the premise of TI Pakistan serving a notice and critically questions the credibility and transparency of the organisation itself with respect to conducting its business affairs in an ethical and non-coercive manner. more... (BR)

Floods to take toll on cement makers

Prices may come down in next 1-2mth. Catastrophic floods in the Pakistan have caused irreparable losses and their actual estimate has not yet calculated but its impact on cement sector would be negative mainly by the reason that reconstruction would be prolonged due to the nature of the mishap. more... (TFD)


KSE Notices

Fauji Fertilizer Company - Public Announcement
Public announcement of intention of the proposed acquisition of up to 79.85% of shareholding in Agritech Limited by Fauji Fertilizer Company Limited. more... (KSE)

Shell Pakistan Limited - Financial result for the quarter and six months ended June 30, 2010

Board of directors have approved the financial result for the six months ended June 30, 2010. PAT PKR720.21mn EPS PKR10.52 and result for the quarter ended June 30, 2010. PAT PKR318.17mn EPS PKR4.65 more... (KSE)



(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
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.