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Oct 28, 2010
 
Statistics
KSE-100 Index
Previous Index 10,658.15
Current Index 10,704.16
Change % 0.43%
YTD (CY10) 14.03%
YTD (FY11) 10.10%

International Indicators
  Close %age
BSE-30 20,005.37 (1.07)
HANGSENG 23,164.58 (1.85)
NIKKEI 255 9,387.03 0.10
FTSE 5,646.02 (1.10)
DJIA 11,126.28 (0.39)
SSEC 2979.77 (1.78)
NASDAQ 2,503.26 0.24

SCRA
Oct 25, 2010 11.21
Oct, 2010 26.18
YTD (FY10) 84.24

Money Market Updates
6m T-bill 20-Oct-10 13.1193%
12m T-bil 20-Oct-10 13.2353%
3m KIBOR 12.99%
6m KIBOR 13.21%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 118.62
PKR/GBP 135.94
PKR/USD 85.9
PKR/OMR 221.73

Commodities
Oil $82.18/barrel
Change in % -0.30
Gold $1329.3/ounce
Change in % -0.73

Inflation
CPI Gen. - YoY (Sep-10) 15.7%
CPI Gen. - FY11 (Jul- Sep 10) 13.80%
NFNE Core INFL - YoY (Sep 10) 9.4%
NFNE Core INFL - FY11 (Jul- Sep 10) 9.8%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,1046
Population 170.45mn
US$ Reserves (Oct 21, 2010) $17.10bn
Trade Balance Sep $(0.59)bn
Curr. A/C (Jul-Sep-10) $(545)bn
Remittances (July - Sep 10) $2646.30mn
Foreign Investment (Jul - Sep 10) $455.1mn
All Sch. Banks Deposit Base (Oct 15, 2010) Rs661.65bn

NAVs and Returns
as of Oct 26, 2010
Funds Offer Redemption
POAIIF 51.3004/- 50.7848/-
Daily Return 7.68%
POAIF 54.73/- 53.36/-
Daily Return -75.09%
POASF 54.69/- 53.32/-
Daily Return 54.85%
POAF 10.19/-
Daily Return 12.55%
*Daily Returns are calculated as per MUFAP guidelines

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

CSF to give $750 million by November-end: Tapi project, land surveying mapping bill approved by Cabinet
The Federal Cabinet in its 66th meeting held here at Governor's House on Wednesday with Prime Minister Syed Yousuf Raza Gilani in the chair, expressed satisfaction over the recently concluded third round of Pak-US Strategic Dialogue. Prime Minister asked the Foreign Minister to take parliament into confidence on this dialogue. more... (BR)

Flood-hit areas reconstruction: World Bank declines $1 billion fresh lending
The World Bank (WB) has, reportedly, refused to provide fresh lending of $1 billion for reconstruction of flood-hit areas, and emphasised the need for the government to reprioritise funds already committed for ongoing projects, sources in Finance Ministry exclusively told Business Recorder. more... (BR)

Price spiral takes food items out of common man's reach
In a bustling street of a downtown area, a police constable sells lemon juice outside a private hospital when he is off-duty and in his normal clothes. Sher Alam (name changed to protect identity), in his 40s, works day and night to make ends meet. He is an ordinary juice-vendor between 8am and 4pm for his customers, who are unaware of his service in the capital city police where he works on the night shift. more... (D)

 

 

 

 

 

 

Politics

PPP-PML-Q meeting termed a ‘message for MQM'
The stir created by a dramatic meeting between Law Minister Babar Awan and PML-Q leader Chaudhry Pervaiz Elahi on Monday was somewhat mellowed by the PML-Q on Tuesday when its leaders said that it would be premature for any of the two parties to hope for a common agenda or a coalition. And the PML-N, which was supposed to be the main target of the dramatic development, shrugged it off as ‘inconsequential'. more... (D)


Awan, Elahi meeting does not affect PML-N: Nawaz
Pakistan Muslim League – Nawaz's chief Nawaz Sharif on Wednesday said the meeting between Law Minister Babar Awan and Pakistan Muslim League – Quaid leader Pervaiz Elahi does not affect the PML-N. Addressing media representatives in Peshawar, he said politicians should abide by certain principles when it comes to politics. Nawaz further said that the government should “respect democracy as well as its own mandate”. more... (D)

India wants to sort out issues with Pak: Singh
Prime Minister Manmohan Singh has said India wants to resolve all outstanding issues with Pakistan through dialogue for the sake of “peace and prosperity of our people”. He also rejected the notion of American tilt, saying that in an inter-dependent world, India wants good relations with “all the major super-powers” like the US, Russia and China in its own “enlightened national interests”. more... (TFD)

 

 

 

 

 

 

 

Sector Briefing

Turkmenistan pipeline gets green light
Information Minister Qamar Zaman Kaira said this at a media briefing after the cabinet meeting held at the Governor House Lahore. He said this international gas pipeline project was in the best interest of Pakistan, asserting that the project would continue among the three countries even if India chooses not to sign the deal. more... (ET)

Textile exporters stop buying local yarn
Textile exporters have decided to stop purchase of yarn due to exorbitant price hike in the local market and, in case the situation becomes worse, they would close down their factories. Consensus towards this decision was arrived at an emergency meeting of local textile exporters here on Wednesday to forge the line of action against speculation and uncertain condition in the local yarn market. more... (BR)

Turkish ''power ship'' to provide 232 megawatts electricity to KESC

The ''Power Ship'' dedicated for Pakistan is scheduled to arrive next month in Karachi to provide electricity to Genco-IV through the Karachi Electric Supply Company (KESC) network at the Korangi Thermal Power Station to meet power shortage in the business hub of the country. more... (BR)

 

KSE Notices
 
 

JS Global Capital Limited
The Board of Directors in the meeting held on Oct 27, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR46.39mn EPS 0.93 more... (KSE)

SilkBank Limited
The Board of Directors in the meeting held on Oct 27, 2010, has approved the financial statments of the company for the third quarter ended Sep 30, 2010. The company reported LAT:PKR908.4mn EPS 0.42. more... (KSE)

IGI Insurance Limited
The Board of Directors in the meeting held on Oct 27, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR87.12mn EPS 1.21. more... (KSE)

Attock Cement Limited.
The Board of Directors in the meeting held on Oct 27, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR96.86bmn EPS 1.12. 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.