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Nov 01, 2010
 
Statistics
KSE-100 Index
Previous Index 10,634.99
Current Index 10,598.40
Change % -0.34%
YTD (CY10) 12.90%
YTD (FY11) 9.02%

International Indicators
  Close %age
BSE-30 20,032.34 0.46
HANGSENG 23,096.32 0.49
NIKKEI 255 9,202.45 1.75
FTSE 5,675.16 0.05
DJIA 11,118.49 0.13
SSEC 2967.22 2.30
NASDAQ 2,507.41 0.01

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 13.23%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 119.4
PKR/GBP 13.05
PKR/USD 85.95
PKR/OMR 221.73

Commodities
Oil $82.18/barrel
Change in % -0.44
Gold $1359.2/ounce
Change in % 1.34

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 29, 2010
Funds Offer Redemption
POAIIF 51.3133/- 50.8002/-
Daily Return 1.81%
POAIF 54.61/- 53.24/-
Daily Return -68.43%
POASF 54.53/- 53.17/-
Daily Return -198.00%
POAF 10.20/-
Daily Return 12.95%
*Daily Returns are calculated as per MUFAP guidelines

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

Two percent rise in power tariff from today
Making harder for the people to make both ends meet, the government may increase electricity tariff by two percent across the board from November 1, in accordance with the conditionalities imposed by international financial institutions, it is learnt. According to sources, the amount on account of tariff differential during last three months, from July to September 2010, has reached Rs 57 billion, against Rs 30 billion, allocated in the budget for the current fiscal year. more... (BR)

Textile and Petroleum ministries call gas subsidies as 'poison'
The Ministries of Petroleum and Textile Industry have termed the gas cross subsidy as 'poison', resulting in all consumers (power, industrial, compressed natural gas (CNG) and commercial sectors) being over burdened, sources in the Ministry of Industries and Production (MoI&P). Both Ministries took this position at a time when MoI&P, which was directed by the federal Cabinet to prepare a new fertiliser policy, proposed that after 2015 the policy for new investors should be reviewed to taper off feed gas subsidy, if deemed appropriate at that point in time. more... (BR)

KAPCO turbine closure leads to 1,250MW shortfall in power
The closure of 11 turbines of the Kot Addu power plant has led to a shortfall of 1,250 megawatts in Punjab. According to Kot Addu Power Company (Kapco), the turbines were closed because of the suspension of furnace oil. Kapco claimed that oil tanker owners were supplying furnace oil with impurities. more... (ET)

 

 

 

 

 

 

Politics

'Corrupt officers should mend their ways'
Interior Minister Rehman Malik has overseen the functioning of the Federal Investigation Agency (FIA) and has sought a comprehensive anti-corruption campaign. “Any office be it of Wapda, FIA, Passport Immigration, Nadra or CDA or wherever it is responsible for public dealing, the corrupt officers of these offices should mend their ways. After 7th, our covert action will start, we will have zero tolerance and the government will take action against corruption terrorism,” said Malik. more... (ET)


MQM leaders meet President today
A high level delegation of Muttahida Qaumi Movement (MQM) would meet President Asif Ali Zardari today at Bilawal House, media reported. According to the sources, MQM leaders would apprise the President of their party's reservations over differences with Pakistan Peoples Party (PPP) over law and order situation in Karachi. Senator Babar Khan Ghauri, Dr Saghir Ahmed and Wasim Aftab would attend from the MQM side. Sindh Governor Dr Ishratul Ebad and Sindh CM Qaim Ali Shah would also attend the meeting. more... (TFD)

PML-N: The party misses several deadlines
PML-N chief Nawaz Sharif had dissolved all the structures of his party in September 2009 with an announcement that they would be reorganised through intra-party elections within six months. But a little over a year down the line there has not been much progress and the party seems miles away from what it was supposed to accomplish by March this year. more... (ET)

 

 

 

 

 

 

 

Sector Briefing

Energy-saver project in doldrums
The multi-billion-rupee energy savers'' project, being financed by Asian Development Bank (ADB) and Agence Française de Development (AFD), French development agency, is reportedly in doldrums after the Law Ministry raised queries over the official status of the agreement with AFD, sources close to Secretary, Economic Affairs Division (EAD). more... (BR)

Restoring powers of Member Gas: Ogra chairman defies Cabinet Div's orders
The Chairman of Oil and Gas Regulatory Authority (Ogra) has opted for defiance mood and has challenged the Cabinet, saying that Cabinet Division has no legal jurisdiction to issue directions to Ogra. more... (BR)

E&P earnings up 43.4pc in 1Q

Oil and gas exploration and production sector has shown a healthy growth of 43.4 per cent in their earnings during the first quarter of fiscal year 2011. Earnings of the listed companies' i.e. (OGDC, PPL, POL, & MARI) during the period were increased to Rs27.1 billion compared with Rs18.9 billion recorded during the corresponding period of last year. more... (TFD)

 

KSE Notices
 
 

 

 

 

(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.