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Nov 15, 2010
 
Statistics
KSE-100 Index
Previous Index 10,905.24
Current Index 10,874.02
Change % -1.11%
YTD (CY10) 15.84%
YTD (FY11) 11.85%

International Indicators
  Close %age
BSE-30 20,156.89 -2.1
HANGSENG 24,222.58 -1.93
NIKKEI 255 9,724.81 -1.4
FTSE 5,796.87 -0.32
DJIA 11,192.60 -0.80
SSEC 2966.75 -5.36
NASDAQ 2,518.21 -1.46

SCRA
Nov 10, 2010 32.53
Nov, 2010 16.24
YTD (FY11) mn 120.97

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 12.97%
6m KIBOR 13.23%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 116.4
PKR/GBP 137.57
PKR/USD 85.5
PKR/OMR 217.57

Commodities
Oil $85.03/barrel
Change in % -1.84
Gold $1367.00/ounce
Change in % -1.55

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 (Nov 4, 2010) $16.95bn
Trade Balance Sep $(0.59)bn
Curr. A/C (Jul-Sep-10) $(545)bn
Remittances (July - Oct 10) $3.5bn
Foreign Investment (Jul - Sep 10) $455.1mn
All Sch. Banks Deposit Base (Nov 6, 2010) Rs668.17bn

NAVs and Returns
as of Nov 15, 2010
Funds Offer Redemption
POAIIF 51.4871/- 50.9722/-
Daily Return 7.19%
POIAAF 56.65/- 55.23/-
Daily Return 139.31%
POAAF 55.70/- 54.31/-
Daily Return -13.44%
POAF 10.35/-
Daily Return 9.60%
*Daily Returns are calculated as per MUFAP guidelines

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

Reformed GST: government and business community on war path
The business community is on the war path with the government as the Federation of Chambers of Commerce and Industry (FPCCI) has rejected the proposed Reformed General Sales Tax (RGST), saying it is a recipe for destroying businesses and trade in Pakistan and it cannot afford to allow the government to proceed to make this anti-people and anti-businesses bill a law. more... (BR)

Next IMF tranche: Pakistan's prospects improve
Per kilogram (kg) prices of the Liquefied Petroleum Gas (LPG) have increased by Rs8 resulting in prices of domestic cylinders of LPG rising to Rs100, media reported on Sunday. The fresh increase has resulted in price rise in LPG in Azad Kashmir to Rs150 per kg whereas in Lahore, Multan and Bahawalpur to Rs120 per kg. more... (BR)

Foreign debt up at $58.41 billion
Pakistan's stock of external debt and liabilities has hiked by 5 per cent or $2.78 billion QoQ to $58.41 billion against $55.62 billion recorded in FY10. Comparison on year-on-year basis showed further miserable picture, as foreign debt and liabilities increased 5.8 per cent or $3.2 billion YoY to $58.41 billion against $55.21 billion recorded in 1QFY10, as per the data released by State Bank of Pakistan. more... (TFD)

 

 

 

 

 

 

 

Politics

Altaf reiterates opposition to reformed GST
A massive explosion ripped through CID civil lines building on Thursday, killing at least 20 people and injuring more than 130, Aaj News reported. One government official said a group of militants first opened fire before detonating a bomb, comparing the explosion to a massive attack that killed 60 people at the five-star Marriott hotel in Islamabad in September 2008. more... (BR)

Pakistan seeks $50bn foreign debt waiver
As federal and provincial economic teams assured the international community on Sunday of their resolve to introduce wide-ranging taxation measures, including Reformed General Sales Tax (RGST) and taxes on agriculture and real estate, Interior Minister Rahman Malik made a plea for waiving the $50 billion foreign debt to help Pakistan move ahead with the war against terrorism. more... (D)

Shahbaz backing out of commitment, says Kaira
Federal Information Minister Qamar Zaman Kaira has urged Punjab Chief Minister Shahbaz Sharif not to “back out or deviate” from the consent he had given at a meeting of the Council of Common Interests (CCI) to the government`s plan of imposing Reformed General Sales Tax (RGST) and flood surcharge. more... (D)

 

 

 

 

 

 

 

 

 

Sector Briefing

Pakistan, US sign 150MW wind power project
Pakistan and United States on Sunday signed a wind power generation project which will be completed in two years at a cost of $375 million (Rs. 32 Billion) to produce 150 megawatts of electricity. The agreement was signed by US Special Envoy for Afghanistan and Pakistan Richard Holbrooke and Secretary Water and Power Javed Iqbal on behalf of their respective governments here at a local hotel. more... (BR)

LPG goes up Rs8/kilo
Per kilogram (kg) prices of the Liquefied Petroleum Gas (LPG) have increased by Rs8 resulting in prices of domestic cylinders of LPG rising to Rs100, media reported on Sunday. The fresh increase has resulted in price rise in LPG in Azad Kashmir to Rs150 per kg whereas in Lahore, Multan and Bahawalpur to Rs120 per kg. more (TFD)

Foreigners gather $8.97mn equities
Even though global market remained depressed and country's law and order situation stayed uncertain, but offshore investors once again emerged as the net-buyer in Pakistan equity market with $8.97 million worth of buying in the last week, as per the National Clearing Company of Pakistan Limited (NCCPL) data. more... (TFD)

 

KSE Notices
 
 

First Punjab Modaraba Limited
The Board of Directors has disclosed the financial statments of the company for the year ended June 30, 2010. The company reported LAT:PKR28.59mn LPS PKR0.84 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.