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Oct 04, 2010
 
Statistics
KSE-100 Index
Previous Index 9,934.04
Current Index 10,042.44
Change % 1.09%
YTD (CY10) 6.98%
YTD (FY11) 1.03%

International Indicators
  Close %age
BSE-30 20,445.04 1.87
HANGSENG 22,358.17 (0.09)
NIKKEI 255 9,404.23 0.40
FTSE 5,592.90 0.80
DJIA 10,829.68 0.39
SSEC 2,655.66 1.72
NASDAQ 2,370.75 0.09

SCRA
Sep 30, 2010 3.72
Sep, 2010 -36.74
YTD (FY10) 84.24

Money Market Updates
6m T-bill 22-Sep-10 12.8464%
12m T-bil 22-Sep-10 12.7873%
3m KIBOR 13.07%
6m KIBOR 13.23%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 117.94
PKR/GBP 135.83
PKR/USD 86.35
PKR/OMR 221.73

Commodities
Oil $80.57/barrel
Change in % 1.56
Gold $1311.3/ounce
Change in % 0.55

Inflation
CPI Gen. - YoY (Aug-10) 13.2%
CPI Gen. - FY11 (Jul 10) 12.34%
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 (Sep 27, 2010) $16.632bn
Trade Balance Aug $(1.24)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Aug 10) $933.06mn
Foreign Investment (Jul 10) $144.80mn
All Sch. Banks Deposit Base (Aug 13, 2010) Rs653.42bn

NAVs and Returns
as of Sep 29, 2010
Funds Offer Redemption
POAIIF    
Daily Return B/C
POAIF 53.54/- 52.20/-
Daily Return -90.67%
POASF 51.92/- 50.62/-
Daily Return -186.52%
POAF 10.05 /-
Daily Return -99.44%
*Daily Returns are calculated as per MUFAP guidelines

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

RGST to load taxpayers with extra Rs119 billion
The people will be burdened with additional Rs119 billion with Reformed General Sales Tax (RGST) in the wake of conditions streamed from International Monetary Fund (IMF). The tax was to come into force from October 1st; but now it will be imposed from November. The sources privy to Finance Ministry said that revenues of additional Rs59 billion would be received as a result of imposition of sales tax in three phases. Reformed Sales Tax will put an end to tax exemptions worth Rs60 billion. The tax exemptions worth Rs147 billion were given last fiscal year. more... (TFD)

Minister inaugurates Rs 109 million gas projects for 17 villages
Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar inaugurated Rs 109 million gas supply schemes to 17 villages in Taluka Hyderabad Rural on Sunday. more... (BR)

Corporate sector earning hops 34pc
Corporate sector profitability showed significant growth of 33.7 per cent during the period April to June 2010. Cumulative earnings of the companies rose to Rs62.48 billion ($727 million) in 2QCY10 against Rs46.74 billion ($556 million) in the corresponding period last year. more... (TFD)

 

 

 

 

 

 

Politics

Gilani hints at ‘difficult' decisions
Prime Minister Yousuf Raza Gilani has said that the judiciary's top priority is the strengthening of the democratic system and he will take “difficult decisions” if larger national interest required him to do so. “Let me make it clear that the judiciary wants democracy in the country and its top priority is to strengthen it. We will strengthen all institutions and continue with the politics of reconciliation,” more... (D)

PML-Q seeks protected status for Pakistanis in US
Pakistan Muslim League-Q chief Chaudhry Shujaat Hussain has urged US Secretary of State Hillary Clinton to give a Temporary Protected Status (TPS) to Pakistanis in the United States to enable them to play their role in rehabilitation of the millions of people displaced by floods. more... (D)


Can Musharraf make a difference?
Retired general and past president of Pakistan, Pervez Musharraf announced the debut of his political party All Pakistan Muslim League from London. He apologised to the nation for the mistakes he committed, which led to tendering of his resignation. His entry in the politics is being vehemently criticised by many political parties, particularly PPP and PML-N and their clout. more... (TFD)

 

 

 

 

 

 

 

Sector Briefing

IP gas pipeline laying deal: Gazprom invited to participate
Pakistan has formally invited Russia's Gazprom, the largest extractor of natural gas in the world, to participate in laying gas pipeline under Iran-Pakistan (IP) gas pipeline deal. Iran has already welcomed Gazprom involvement in IP gas pipeline project. more... (BR)

NetSol to expand service delivery in nine countries

NetSol Technologies Ltd on Monday announced that it has agreed upon terms for a new global framework agreement with a blue chip captive auto finance company. This global framework is another feather in NetSol's cap. It may be noted that NetSol has recently earned global recognition by securing CMMI Level 5 certification. more... (BR)

China may buy Pakistani bank

China may buy out a Pakistani bank, as the State Bank of Pakistan (SBP) has been directed by the President to remain in touch with Chinese central bank to finalise a feasible proposal, sources told Business Recorder here on Sunday. President Asif Ali Zardari, who visited China a couple of months ago, chaired a meeting in the third week of September as follow-up on his visit. more... (BR)

 

KSE Notices
 
 

Nakhsbandi IndustriesLimited
The Board of Directors in the meeting held on Oct 1, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR143.05mn EPS 1.20 Cash dividend PKR 2/share. 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.