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Dec 02, 2010
 
Statistics
KSE-100 Index
Previous Index 11,234.76
Current Index 11,221.81
Change % -0.11%
YTD (CY10) 19.54%
YTD (FY11) 15.42%

International Indicators
  Close %age
BSE-30 19,850.00 1.68
HANGSENG 23,249.00 1.05
NIKKEI 255 9,988.05 0.50
FTSE 5,642.50 2.10
DJIA 11,255.78 2.27
SSEC 2,868.49 1.20
NASDAQ 2,549.43 2.05
TASI 6,344.88 0.42
KSE(Kuwait) 1,434.12 -0.59
BSE 1,437.94 -0.27
MSM 6,638.53 0.71

SCRA
Nov 30, 2010 -1.43
Nov, 2010 58.00
YTD (FY11) mn 164.15

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.3%
6m KIBOR 13.59%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 111.54
PKR/GBP 133.65
PKR/USD 85.8
PKR/OMR 220.62

Commodities
Oil $86.48/barrel
Change in % 2.41
Gold $1393.00/ounce
Change in % 0.15

Inflation
CPI Gen. - YoY (Oct-10) 15.3%
CPI Gen. - FY11 (Jul- Oct 10) 14.2%
NFNE Core INFL - YoY (Oct 10) 9.3%
NFNE Core INFL - FY11 (Jul- Oct 10) 9.7%

Economic Indicators
GDP Growth FY10E 4.10%
Per Capita Income $ 1,1046
Population 170.45mn
US$ Reserves (Nov 22, 2010) $16.91bn
Trade Balance Oct $(1.23)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 12, 2010) Rs672.14bn

NAVs and Returns
as of Dec 01, 2010
Funds Offer Redemption
POAIIF 51.7144/- 51.1973/-
Daily Return 8.24%
POIAAF 58.12/- 56.67/-
Daily Return -211.32%
POAAAF 57.02/- 55.59/-
Daily Return -267.239%
POAF 10.14/-
Daily Return 868.98%
*Daily Returns are calculated as per MUFAP guidelines

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

FBR notifies cut in turnover tax for refineries, OMCs
The Federal Board of Revenue on Tuesday notified reduction in turnover tax from one percent to 0.5 percent for refineries and Oil Marketing Companies (OMCs). Talking to Business Recorder here on Tuesday, Asrar Raouf FBR Member Direct Tax Policy and official spokesman said the notification on reduction in the rate of turnover tax has been signed following clearance from the Law and Justice Division. more... (BR)

Federal, provincial governments: first quarter budget deficit jumps to 1.6 percent of GDP
The consolidated budget deficit of the federal and provincial governments during the first quarter (July-September) of 2010-11 jumped to Rs 276.176 billion or 1.6 percent of the Gross Domestic Product (GDP). According to the Fiscal Operations Report for July-September 2010-11 released by the Ministry of Finance here on Tuesday. more... (BR)

ADB satisfied with plan to improve distribution system
The Asian Development Bank (ADB) said that the power distribution enhancement investment programme has fulfilled all the criteria set for the Tranche-I of the loan approved for it in 2008, a bank report said. Based on the positive progress of Tranche-1, the Tranche-2 project proposal has been recommended for consideration, said an ADB report made available to The News. more... (TN)

 

 

 

 

 

 

 


Politics

Pakistani leadership ‘okayed' drone attacks: WikiLeaks
Documents released by WikiLeaks indicate that Pakistan's political leadership has allegedly been in agreement with US drone attacks. The leaked cables quote former US Ambassador to Pakistan Anne W. Patterson as saying that the country's political leadership approved the strikes in Pakistan's tribal regions.
more... (BR)

India blocks Musharraf's visit
India has denied a visa to Pervez Musharraf on grounds he was responsible for a conflict that nearly erupted into war between the neighbours, media reports said Wednesday. The former president was invited to India by private organisations to attend seminars and meet the media. more... (BR)

President, PM decide to keep quiet over WikiLeaks
President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani met at the Presidency on Wednesday and decided to keep quiet on US diplomatic cables released by WikiLeaks. Sources said the two leaders discussed the leaked cables and their possible fallout. more... (D)

 

 

 

 

 

 

Sector Briefing

Sunflower support price raised by 25pc
The government increased sunflower support price from Rs1600 to Rs2000 per 40 kilogram on Wednesday to encourage increased production, which will reduce Pakistan's import bill. Federal Minister for Food and Agriculture Nazar Muhammad Gondal announced this at a news conference after meeting representatives of oil seed extracting companies. more... (TN)

Second phase of power sector project being finalised n

The Asian Development Bank (ADB) and the Economic Affairs Division are finalising a project of $302 million for removing the bottlenecks in power distribution systems, reveals an official communique sent by ADB to EAD, available with The News. The government has requested ADB to finance $242 million (80 percent) from its Ordinary Capital Resources (OCR). This will be the Tranche 2 of Power Distribution Enhancement Investment Programme funded by the ADB. more (TN)

Ogra top guns hold MoP responsible: delay in determining gas tariff for SSGC, SNGPL

Top guns of Oil and Gas Regulatory Authority (Ogra) have held the Ministry of Petroleum responsible for the inordinate delay in determining new gas tariff for Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipeline Limited (SNGPL) effective January 1, 2011 which has annoyed President Asif Ali Zardari," Business Recorder has learnt reliably. more... (BR)

 

 

KSE Notices
 
 

Pakistan Oilfeilds Limited
The company anounced the final cash dividend of PKR17.50 for the year 2009-2010.. 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.