Dec 07, 2010
KSE-100 Index
Previous Index 11,406.66
Current Index 11,440.07
Change % 0.29%
YTD (CY10) 21.87%
YTD (FY11) 17.67%

International Indicators
  Close %age
BSE-30 19,981.31 0.70
HANGSENG 23,237.69 -0.36
NIKKEI 255 10,167.23 -0.10
FTSE 5,770.28 0.40
DJIA 11,362.10 -0.17
SSEC 2,847.78 0.35
NASDAQ 2,594.92 0.13
TASI 6,400.80 -0.04
KSE(Kuwait) 6,867.70 0.03
BSE 1,429.44 1.09
MSM 6,717.26 0.30

Dec 03, 2010 8.76
Dec, 2010 9.68
YTD (FY11) mn 172.41

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.35%
6m KIBOR 13.59%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 114.65
PKR/GBP 135.34
PKR/USD 85.95
PKR/OMR 220.71

Oil $89.10/barrel
Change in % -0.25
Gold $1,422.90/ounce
Change in % 0.63

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 (Dec 3, 2010) $16.74 bn
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 19, 2010) Rs679.65bn

NAVs and Returns
as of Dec 06, 2010
Funds Offer Redemption
POAIIF 51.7757/- 51.2579/-
Daily Return 9.00%
POIAAF 58.48/- 57.02/-
Daily Return -29.80%
POAAAF 57.64/- 56.20/-
Daily Return -21.61%
POAF 10.20/-
Daily Return 83.27%
*Daily Returns are calculated as per MUFAP guidelines

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

Future of two economies inter-linked: PM addresses leaders, Afghan corporate sector chief executives
Prime Minister Syed Yousuf Raza Gilani on Sunday pointing at the trans-regional development and connectivity opportunities between Pakistan and Afghanistan urged their business communities to make optimum use to develop win-win scenarios. Addressing the leaders and CEOs of the Afghan corporate sector and Afghan business community here at a breakfast meeting, the Prime Minister said the future of two economies was closely inter-linked and the geo-economic dynamics of the region makes it an essential imperative. more... (BR)

Inland Revenue Services: FBR planning to set up DGI&I
The Federal Board of Revenue (FBR) is planning to set up a separate 'Directorate-General of Intelligence and Investigation' for Inland Revenue Services (IRS), covering domestic taxes--income tax, sales tax and federal excise duty. more... (BR)

Key rate seen at 16pc this fiscal
Finance Ministry said Monday that If RGST fail to get legal cover than government would have to borrow more from State Bank of Pakistan, added that failing RGST means the budget deficit for the current fiscal would further widen. Officials further said that State Bank would have to increase the interest rate further by two per cent to 16 per cent in order to battle escalating inflation. Furthermore, Finance Minister Dr Hafeez Shaikh said that Reformed General Sales Tax (RGST) Bill is the most talked and discussed tax in the country's history. He was talking to media at the 4th CPC Corporate Philanthropy Awards at a hotel here. more... (TFD)









WikiLeaks donation pipelines being choked off
MasterCard Worldwide on Monday stopped funneling payments to WikiLeaks a day after online financial transactions service disconnected a button for donations to the whistle-blower website. News website CNET cited a MasterCard spokesman as saying WikiLeaks was being cut off due to rules barring use for “directly or indirectly engaging in or facilitating any action that is illegal.” more... (D)

20 pc Khi people supported MQM: Leaks quotes Zardari
President Asif Ali Zardari told the then US ambassador Anne W Patterson that Muttahida Qaumi Movement (MQM) hardly enjoyed support of 20 per cent population in Karachi, the capital city of Sindh, Geo News reported, quoting WikiLeaks. Although, MQM had adopted an aggressive posture but we wanted to take them along, said Zardai to ex-US envoy Patterson, as reported by WikiLeaks. more... (TN)

MQM took back NRO support on US, UK pressure: leaks
Muttahida Qaumi Movement (MQM) took back its support of government for NRO on pressure from the US and Britain, according to a cable leaked by WikiLeaks. According to a US State Department cable released by WikiLeaks, Interior Minister Rehman Malik suspected that the “establishment” was out to get President Asif Zardari and that the Muttahida Qaumi Movement (MQM) was being influenced by the US and the UK. more... (TN)







Sector Briefing

OGDCL announces joint bid for BP assets
Pakistan's biggest listed firm, the Oil and Gas Development Co. Ltd. (OGDCL) , on Monday announced it will make a joint bid for BP's assets in Pakistan with Pakistan Petroleum Ltd (PPL) . BP announced its plans to sell its upstream assets in Pakistan in July, as part of a $10 billion global asset sale aimed at raising cash to pay for its Gulf of Mexico oil spill. more... (TN)

Use of APL pipeline by Byco: Ministry to appoint expert to review pacts

The Ministry of Petroleum and Natural Resources has decided to appoint legal/technical expert to review all agreements to resolve the issues related to disposal of Byco products and utilisation of Asia Petroleum Limited (APL) pipeline, official sources told Business Recorder. . more (BR)

KESC tariff raised by 58 paisas/unit

National Electric Power Regulatory Authority (NEPRA) has approved an increase of 58 paisas per unit in the power tariff of Karachi Electric Supply Company. The fresh hike in power tariff has been approved for the month of October in the form of fuel adjustment charges. The raise in tariff would be applicable from January 2011. more... (TFD)



KSE Notices

TRG Pakistan Limited
The company announced the financial results for the year ended June 30, 2010 with the LAT: PKR1.49bn EPS: PKR 4.20 more... (KSE)




(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
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.