Sep 3, 2010
KSE-100 Index
Previous Index 9,735.38
Current Index 9,762.89
Change % 0.28%
YTD (CY10) 4.00
YTD (FY11) 0.42%

International Indicators
  Close %age
BSE-30 18,238.31 0.18
HANGSENG 20,868.82 1.19
NIKKEI 255 9,062.84 1.50
FTSE 5,371.04 0.10
DJIA 10,320.10 0.49
SSEC 2,642.38 0.23
NASDAQ 2,200.01 1.06

Sep 1, 2010 -0.10
August, 2010 48.69
YTD (FY10) 84.24

Money Market Updates
6m T-bill 25-Aug-10 12.65%
12m T-bil 25-Aug-10 12.78%
3m KIBOR 12.73%
6m KIBOR 12.87%
10 yrs PIB 13.20%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 109.6
PKR/GBP 132.25
PKR/USD 85.7
PKR/OMR 218.53

Oil $74.69/barrel
Change in % 1.27
Gold $1253.60/ounce
Change in % 0.38

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 170.37mn
US$ Reserves (Aug 20, 2010) $16.11bn
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 Sep 2, 2010
Funds Offer Redemption
POAIIF 51.3042/-  50.7912/-
Daily Return 7.84%
POAIF 52.96/- 51.64/-
Daily Return -119.76%
POASF 51.73/- 50.44/-
Daily Return -144.15%
POAF 11.09 /-
Daily Return 30.57%
*Daily Returns are calculated as per MUFAP guidelines

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

IMF to urgently grant $450mn aid
The International Monetary Fund agreed Thursday to give Pakistan $450 million in emergency flood aid, providing some relief for a government overwhelmed by the disaster and facing renewed militant violence.
IMF Managing Director Dominique Strauss-Kahn said in Washington that funds would be dispersed in "coming weeks." Strauss-Kahn said discussions with a delegation led by Pakistan's Finance Minister Abdul Hafeez Shaikh on how to "reorganise" an $11 billion IMF loan program would continue.. more... (TFD)

Refiners margins slide 1pc QoQ
The downward price trend of crude oil has adversely affected the domestic Gross Refinery Margin (GRM) for the month of September, declined 17 per cent MoM to $2.61/bbl. more... (TFD)

KSE, SECP cross swords
The run-in between the members of Karachi Stock Exchange and SECP doesn't seems to be a one-off as KSE members Tuesday spelled out their resolve to move on with the restructuring agenda despite the dissent showed by the Chairman apex regulator.
Members of Karachi Stock Exchange held a meeting at KSE Auditorium to consider the statement issued by SECP on Wednesday. more... (TFD)

Moody’s issues 5 Pak banks’ rating

Moody's investors services on Thursday changed to negative from stable the outlook on the long-term local currency deposit ratings and bank financial strength saving of the following 5 Pakistani banks. ABL (d-/ba3), HBL (d-/ba3), MCB (d/ba2), NBP (d/ba2), and UBL (d-/ba3). At the same time Moody's have affirmed the foreign currency deposits savings of b3/not-prime assigned to these banks. more... (TFD)


Zardari seeks transparency
President talks to Sindh Cabinet, orders fast restoration
Says ‘doubts’ to put question mark on all relief efforts. President Asif Ali Zardari Thursday urged Government of Sindh to speedily carry out rehabilitation process with not only aiming at rebuilding but rebuilding it better and fast in a transparent manner. more... (TFD)

Feudal democracy intolerable: Altaf Hussain
MQM Chief Altaf Hussain said Sunday that corrupt politicians and Generals didn't embrace the majority-holder Mujeeb-ur Rehman Shami, hence broke apart East and West Pakistan. He said rotten and feudalistic democracy has prevailed Pakistan for 63 years which should not be tolerated anymore. He sang-out to the ruling parties, "Where the mandate holders are lying themselves in?" more... (TFD)

Malik updates Chidambaram on 26/11 attack trial progress
The directives by the Cabinet to remove contractual inconsistencies for the multi billion dollar Rental Power Projects (RPPs), as noted by third party audit, has been put on hold by an office memorandum (OM) signed by a Section Officer of the Cabinet Division. more... (TFD)





Sector Briefing

Clearance to six RPPs: Pepco under immense pressure from Ministry
The Pakistan Electric Power Company (Pepco) is reportedly under immense pressure from top brass of the Ministry of Water and Power to give clearance to six rental power projects (RPPs) whose Rental Service Agreements are not yet effective, sources in the Ministry told Business Recorder. more... (BR)

LPG prices: SHV Energy says following Ogra directives
SHV Energy Pakistan has said that it is completely following the directives of the Oil and Gas Regulatory Authority (Ogra) regarding the notified prices of LPG. "We have never been non-compliant to any of the Ogra directives and are currently adhering to the prices notified by it for companies marketing imported LPG," SHV spokesman Mohsin said while talking to Business Recorder. more... (BR)

Country-wide uniform power tariff: World Bank proposes special surcharge on power bills
The World Bank has suggested to the government to slap special surcharge on electricity bills in case the latter intends to maintain uniform power tariff throughout the country. Commenting on the Business Plan 2010-11 of Pakistan Electric Power Company (Pepco), the Bank observed that there is not a visible consensus on whether the tariffs notified should be uniform, non-uniform, or somewhere in between. more... (BR)


KSE Notices

Arif Habib Investments Limited
MoU have been signed between MCB Asset Management Company Limited and Arif Habib Investments Limited for the merger of two companies. more... (KSE)

Netsol Technologies LimitedLimite
The Board of Directors in the meeting held on Sep 2 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR977.23mn EPS of 12.28 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.