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Aug 25, 2010
 
Statistics
KSE-100 Index
Previous Index 9,812.10
Current Index 9,637.17
Change % (1.78)%
YTD (CY10) 2.66%
YTD (FY11) (0.87)%

International Indicators
  Close %age
BSE-30 18,311.59 (0.53)
HANGSENG 20,658.70 (1.10)
NIKKEI 255 8,995.14 (1.30)
FTSE 5,155.95 (1.50)
DJIA 10,040.45 (1.32)
SSEC 2,664.07 (1.51)
NASDAQ 2,123.76 (1.66)

SCRA
August 20, 2010 2.42
August, 2010 80.50
YTD (FY10) 78.08

Money Market Updates
6m T-bill 11-Aug-10 12.65%
12m T-bil 11-Aug-10 12.78%
3m KIBOR 12.72%
6m KIBOR 12.86%
10 yrs PIB 13.20%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 108.39
PKR/GBP 132.59
PKR/USD 85.75
PKR/OMR 221.82

Commodities
Oil $71.89/barrel
Change in % -1.32
Gold $1,232.50/ounce
Change in % 0.78

Inflation
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 170.31mn
US$ Reserves (Aug 13, 2010) $16.29bn
Trade Balance (Jul-Jun 10) $(1.45)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Jul 10) $791.18bn
Foreign Investment (Jul 10) $144.80mn
All Sch. Banks Deposit Base (Aug 13, 2010) Rs4,582bn

NAVs and Returns
as of August 24, 2010
Funds Offer Redemption
POAIIF 51.2101/-  50.6980/-
Daily Return 7.78%
POAIF 53.18/- 51.85/-
Daily Return (251.68)%
POASF 52.01/- 50.71/-
Daily Return (278.57)%
POAF 11.03 /-
Daily Return (10.07)%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan faces hard choices amid budget constraints: IMF
Pakistan faces hard choices as it decides how to allocate scarce resources for rebuilding following devastating floods, a senior International Monetary Fund official said on Monday on the first day of economic talks with Pakistani officials . more... (BR)


Crops losses estimated at $2.8 billion

Total crop loss in Pakistan from the flood has been estimated at Rs 244.639 billion ($2.8 billion) by the Ministry for Food and Agriculture, says a document of the Ministry, completed on August 23. Cotton, a key crop in the country, suffered production loss of 2.25 million bales or Rs 71.4 billion. more... (BR)

0.675 million tons of wheat stocks damaged by floods
The floods have damaged up to 675,000 tons wheat lying under open sky, Agriculture Ministry officials said. They said that according to initial estimates Pakistan has sustained loss of $20.25 million by the flood. Sources said that the flood had damaged different crops sown on 1.72 million hectares. "However, the exact quantity of the commodity destroyed would be assessed after completion of countrywide survey," they added. more... (BR)

 

 

 

 

 

 

Politics

President Zardari rules out martial law
Dismissing the possibility of a military coup in Pakistan, President Asif Ali Zardari has said that the problems the country is currently faced with are too grave to inspire the military to such a move. “I don’t think anybody in his right mind will want to take this responsibility. It’s only democracy that can carry this yoke,” Zardari said in an interview with foreign journalists in Islamabad. more... (T)

FO slams allegations of ISI harbouring Taliban
Pakistan on Tuesday rejected as baseless fresh allegations levelled by a top Afghan official that the country’s premier intelligence agency is harbouring the Taliban and al Qaeda. “The remarks contain nothing new but a rehash of hackneyed and baseless allegations against Pakistan and its security agencies,” Foreign Office spokesperson Abdul Basit said in response to the remarks made by Afghan National Security Adviser Rangin Dadfar Spanta. more... (T)


SC to receive report in 2 or 3 days: inquiry committee

An inquiry committee, formed to collect evidence on the Sialkot murder case, has completed its report, which will be submitted to the Supreme Court in two or three days, former Judge Kazim Mali said on Tuesday. more... (T)

 

 

 

 

 

 

 

Sector Briefing

TAPI gas pipeline project: Turkmenistan and Pakistan meet today
Pakistan and Turkmenistan are scheduled to meet today to resume talks on United States (US)-backed Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, costing over $7.5 billion, Business Recorder has learnt. The offer to use Gwadar port as an export point for Turkmenistan gas is also under consideration. more... (BR)

Oil imports rise to record 1.9 million tons in July
The country's oil imports rose to the highest-ever level of 1.9 million tons in July 2010 as compared to 1.6 million tons in the same month in 2009, showing a growth of 20 percent on year-on-year basis. "The major reason for such high growth in oil import volumes is mounting demand of furnace oil, a major fuel for thermal power generation as its imports grew by 51 percent on yearly basis to 0.7 million tons," analysts said. more... (BR)

Cigarette makers directed to keep records
The Federal Board of Revenue (FBR) has directed cigarette manufacturers who possess the capacity to produce filter rods to keep a record of filter rod production. The cigarette manufacturers will have to issue details of filter rods produced on a monthly basis, according to a notification issued by the FBR. more... (T)

 

KSE Notices
 
 

National Bank of Pakistan - Financial Results for the Quarter and Half Ended June 30, 2010
Board of Directors announces the financial results for the Quater ended June 30, 2010 for Packages Limited. PAT: PKR3.60bn EPS:2.68 and for the Half ended June 30, 2010 PAT: PKR7.82bn EPS:6.81 more... (KSE)

Askari Bank Limited - Financial Results for the Quarter Ended June 30, 2010
Board of Directors announces the financial results for the Quater ended June 30, 2010 for Packages Limited. PAT: PKR386.09mn EPS:0.60 more... (KSE)

Fatima Fertilizer Company Limited - Financial Results for the Half Year Ended June 30, 2010
Board of Directors announces the financial results for the half year ended June 30, 2010 for Packages Limited. LAT: PKR46.63mn LPS:0.02 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.