Sep 09, 2010
KSE-100 Index
Previous Index 9,748.14
Current Index 9,891.13
Change % 1.47%
YTD (CY10) 5.37%
YTD (FY11) 1.74%

International Indicators
  Close %age
BSE-30 18,666.71 0.12
HANGSENG 21,088.90 (1.50)
NIKKEI 255 9,024.60 (2.20)
FTSE 5,429.74 0.40
DJIA 10,387.01 0.45
SSEC 2,685.56 (0.02)
NASDAQ 2,228.87 0.90

Sep 3, 2010 12.43
Sep, 2010 20.16
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 109.1
PKR/GBP 132.17
PKR/USD 85.95
PKR/OMR 217.57

Oil $74.81/barrel
Change in % 1.56
Gold $1257.00/ounce
Change in % -0.21

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 08, 2010
Funds Offer Redemption
POAIIF 51.3674/-  50.8537/-
Daily Return 8.37%
POAIF 53.60/- 52.26/-
Daily Return 274.44%
POASF 52.29/- 50.98/-
Daily Return 252.32%
POAF 11.11 /-
Daily Return 11.08%
*Daily Returns are calculated as per MUFAP guidelines

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

Funds of 29 projects to be diverted to reconstruction: no new disbursement by ADB
The Asian Development Bank (ADB) is not expected to disburse 2 billion dollars of new assistance for reconstruction and rehabilitation in the aftermath of the recent floods, as claimed by the Director General of the Central and West Asia Regional Department on his recent visit to this country, but to divert $1.5 billion from 29 ongoing projects, sources in the Planning Commission told this correspondent, exclusively. more... (BR)

Economic reforms underway: Gilani
World Bank VP calls on Prime Minister Gilani
'NODMC to ensure transparent disbursement of donations'
ISLAMABAD: Despite tremendous troubles, economic reforms in the country are going on with improved governance and democracy, Prime Minister said while talking to Isable Guerrero, Vice President of World Bank who called on him here at the PM House. more... (TFD)

IMF tightly ties tranche with VAT
VAT implementation by Oct 1 seen unlikely. IMF had made it very clear that further talks on macroeconomic review and the release of remaining $2.6 billion could be held only after the government introduced reformed GST or VAT next month, as announced earlier. more... (TFD)









Zardari completes his 2 years in Presidency
President Asif Ali Zardari completes two years of term in power on Thursday (today), with a number of landmark achievements to his credit including 18th amendment, 7th NFC award, political, development packages for Gilgit-Baltistan and Balochistan. more... (TFD)

We are aware of criticism: Justice Chaudhry
Under Article 68 of the Constitution, the conduct of the judges cannot be discussed in parliament. Therefore the existence of the parliamentary committee for the appointment of top judges is contrary to the constitution of Pakistan. more... (T)

UN to launch fresh appeal on Sept 17
The United Nations is planning to launch a fresh appeal for hundreds of thousands of Pakistani flood victims since the $467 million appeal made earlier by the organisation needs revision owing to an increase in the number of affected people. more... (T)





Sector Briefing

Rice export likely to be 3mn tonnes
Pakistan will have up to 3 million tonnes of rice available for export this year despite the worst floods that damaged nearly 28 per cent of the crop, traders said on Wednesday.
Floods have affected more than 708,000 hectares of rice out of the total 2.64 million hectares, according to government estimates. Production losses are feared at around two million tonnes. The government had set an output target of 6 million tonnes from the 2010/11 crop. The country consumes about 2.2 million tonnes annually and is the world's fifth largest exporter of the grain. "The damage assessment is still ongoing, but even in the worst case scenario, we will have an output of between 4 million and 4.5 million tonnes," Malik Muhammad Jahangir, chairman of the Rice Exporters Association of Pakistan.. more... (BR)

Aug oil offtake down 24pc YoY

The sales of various petroleum products after floods showed downward trend in August, dropping by 24 per cent YoY due to poor logistics that hampered consumption. more... (TFD)

PSO fears LC default
Pakistan State Oil (PSO) is fearing default on account of Letter of Credit (L/Cs) to import petroleum products as the company's receivables against different clients have swelled to Rs 144.69 billion. The power sector is the major defaulter of PSO and non-payment of dues will negatively impact the fuel supply. PSO has to pay dues to the refineries on account of fuel supply. more... (BR)


KSE Notices

Standard Chartered Leasing Limited
The Board of Directors in the meeting held on Sep 8, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported LAT:PKR22.94mn EPS of 0.44 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.