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Sep 07, 2010
 
Statistics
KSE-100 Index
Previous Index 9,703.06
Current Index 9,706.10
Change % 0.03%
YTD (CY10) 3.40%
YTD (FY11) (0.16)%

International Indicators
  Close %age
BSE-30 18,560.05 1.86
HANGSENG 21,355.80 1.80
NIKKEI 255 9,301.32 2.10
FTSE 5,439.19 0.20
DJIA 10,447.93 1.24
SSEC 2,685.99 0.16
NASDAQ 2,233.75 1.53

SCRA
Sep 2, 2010 7.83
Sep, 2010 7.74
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 12.74%
6m KIBOR 12.88%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 110.54
PKR/GBP 132.63
PKR/USD 85.75
PKR/OMR 217.57

Commodities
Oil $74.07/barrel
Change in % -0.24
Gold $1250.60/ounce
Change in % 0.03

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 170.45mn
US$ Reserves (Aug 27, 2010) $16.12bn
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 06, 2010
Funds Offer Redemption
POAIIF 51.3451/-  50.8316/-
Daily Return 7.45%
POAIF 52.92/- 51.60/-
Daily Return 21.26%
POASF 51.66/- 50.37/-
Daily Return 24.20%
POAF 11.11 /-
Daily Return 20.49%
*Daily Returns are calculated as per MUFAP guidelines

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

FBR may adopt RGST from October 1: no decision on one-year postponement yet
The Federal Board of Revenue (FBR) will be in a position to introduce 'reformed general sales tax' (RGST) from October 1, 2010 in case all four provinces agree on a uniform formula on sales tax collection from services sector. Official sources told Business Recorder here on Monday that the government has not yet decided to postpone the 'reformed GST' for another year, or so. more... (BR)

Government to launch long-term 'Infrastructure Bond'
President Asif Ali Zardari on Monday asked the State Bank of Pakistan and Development Financial Institutions (DFIs) to prepare feasibility to launch long-term "Infrastructure Bond" for the rehabilitation and reconstruction of flood affected areas. more... (BR)

Government asked to prepare three-year economic revival plan: participation of businessmen urged
Former Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Tufail has suggested that the government should prepare a three-year comprehensive economy revival plan in consultation with business community. Talking to newsmen, he further proposed that the government should start estimating actual losses by the recent flood and its impact on economy. more... (BR)

 

 

 

 

 

 

 

Politics

NAB official defies SC order to resign
Only President can remove me: NAB PG. In defiance of Supreme Court's orders National Accountability Bureau Prosecutor General Irfan Qadir has refused to resign from his post, and said that only President has the authority to remove him. more... (TFD)

Kardar appointed SBP governor
Noted economist Shahid H. Kardar has been appointed as Governor of the State Bank of Pakistan (SBP), according to sources. Accompanied by Defence Minister Ahmad Mukhtar, Kardar met Prime Minister Syed Yousuf Raza Gilani at Islamabad. The Prime Minister is said to have congratulated him upon his appointment as new SBP governor. Earlier, Kardar had met President Zardari, at Karachi. more... (BR)

Suicide car bomber kills 19 in Lakki Marwat
At least 19 people were killed and 45 wounded when a suicide bomber rammed his explosives-laden car into a police station in Lakki Marwat on Monday, destroying the building, police said. Nine policemen and four schoolchildren were among . more... (BR)

 

 

Sector Briefing

Oil crisis imminent
The worst oil crisis in the country is imminent if Pakistan Refinery (PRL) is compelled to suspend operations till September 15, 2010 due to non-payment of dues by Pakistan State Oil (PSO), Business Recorder learnt on Monday. The country's largest oil refinery, Pakistan Arab Refinery (Parco) has suspended its operations due to floods. more... (BR)

Water Master Plan for Thar Coalfields: Sindh government fails to initiate Rs 176 million project
Sindh government has failed to initiate Water Master Plan for Thar Coalfields despite the passage of three and a half years, it is reliably learnt. Sources told Business Recorder on Monday that the Provincial Development Working Party (PDWP) had approved this very important scheme in January 2007 with an estimated cost of Rs 176 million including the studies of water supply and wastewater management. more... (BR)

Rs3bn debt swap deal done with Italy
Italy and Pakistan here Monday signed Debt Swap Agreement (PIDSA) for projects worth totaling to an amount of Rs3.13 billion.
The agreement was signed by Secretary Economic Affairs Division, Sibtain Fazal Halim and Italian Ambassador to Pakistan, Vincenzo Prati at the Economic Affairs Division (EAD). more... (TFD)

 

KSE Notices
 
 

Nishat Power Limited
The Board of Directors in the meeting held on Sep 6, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR47.176mn EPS of 0.135 more... (KSE)

Sigma Leasing Corporation Limited
The Board of Directors in the meeting held on Sep 6, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR6.736mn EPS of 0.22 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.