Dec 14, 2010
KSE-100 Index
Previous Index 11,620.16
Current Index 11,596.69
Change % -0.20%
YTD (CY10) 23.54%
YTD (FY11) 19.28%

International Indicators
  Close %age
BSE-30 19,691.78 0.94
HANGSENG 23,317.60 0.60
NIKKEI 255 10,293.89 0.80
FTSE 5,860.75 0.80
DJIA 11,428.56 0.16
SSEC 2,917.15 1.51
NASDAQ 2,624.91 -0.48
TASI 6,508.93 0.74
KSE(Kuwait) 6,786.80 -0.25
BSE 1,424.30 0.00
MSM 6,660.51 -0.76

Dec 09, 2010 3.45
Dec, 2010 25.47
YTD (FY11) mn 188.33

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.40%
6m KIBOR 13.60%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 113.35
PKR/GBP 135.60
PKR/USD 85.9
PKR/OMR 220.69

Oil $88.43/barrel
Change in % 0.41
Gold $1,405.8/ounce
Change in % 1.34

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 $ 1,1051
Population 171.25mn
US$ Reserves (Dec 3, 2010) $16.74 bn
Trade Balance Oct $(1.23)bn
Curr. A/C (Jul-Oct-10) $(533)mn
Remittances (July - Nov 10) $4.43bn
Foreign Investment (Jul - Oct 10) $569mn
All Sch. Banks Deposit Base (Nov 19, 2010) Rs679.65bn

NAVs and Returns
as of Dec 13, 2010
Funds Offer Redemption
POAIIF 51.8643/- 51.3457/-
Daily Return 9.07%
POIAAF 59.75/- 58.26/-
Daily Return 144.67%
POAAAF 58.73/- 57.26/-
Daily Return 147.20%
POAF 10.37/-
Daily Return 26475.9%
*Daily Returns are calculated as per MUFAP guidelines

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

PACCs' export/import data with ERS: FBR facing technical problems in cross verification
The Federal Board of Revenue (FBR) is facing technical problems in cross verification of Pakistan Customs Computerised System's (PACCs) export/import data with the Expeditious Refund System (ERS) for processing claims filed electronically. Sources told Business Recorder here Monday that the ERS has to verify export data from 'One Customs' clearance system and PACCs to check whether exports have actually taken place or not. more... (BR)

If transitional advance tax is 'minimum tax': WHT exemption for power consumers not applicable
The exemption of withholding tax for industrial and commercial power consumers would not be applicable to the taxpayers whose transitional advance tax deductible under section 235 of the Income Tax Ordinance 2001is minimum tax. Sources told Business Recorder here on Tuesday that the Lahore High Court while hearing taxpayers' grievance that when they have paid advance tax for the tax year under section 147 of the Income Tax Ordinance 2001. more... (BR)

Govt fueling inflation: SBP
Governor State Bank of Pakistan (SBP) Shahid Kardar Monday said that government's poor policies are spurring inflation in the country. Addressing members of the business community at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in Karachi, he said the main reason of price hike was bad governance and the present government was not serious to provide relief to the poor. more... (TFD)









Petition seeking Musharraf's return filed
The first petition filed with the newly-setup Islamabad High Court (IHC) seeks orders for bringing former president Pervez Musharraf back to Pakistan to face charges against him. Shahjahan Khan Durrani has cited the federal government and the ministry of law as respondents in his petition. more... (D)

Mirza breathes fire against MQM
The acerbic Sindh home minister lived up to his billing on Monday, launching a none too veiled, vitriolic attack on the Muttahida Qaumi Movement and blaming it for the wave of targeted killings that have bedevilled Karachi over the past few months. “Dr Imran Farooq was murdered in London, but buses of Pakhtuns were torched in Karachi. Did Asfandyar Wali kill Dr Imran Farooq?” Mr Mirza said, spelling out a litany of complaints against the MQM. more... (D)

Settlement of Securities SECP approves automation
In line with its efforts to promote greater reliability, efficiency and transparency in the capital market operations, the Securities and Exchange Commission of Pakistan (SECP) has approved the project of ‘Automation of Securities Settlement', at the Central Depository Company of Pakistan Limited (CDC). According to a press release issued here on Monday, it will be effective on December 20. The project has been finalised in collaboration with the National Clearing Company of Pakistan Limited (NCCPL) and the three Stock Exchanges.more... (TFD)







Sector Briefing

Supply from TAPI gas line to start in 2015: Naveed
Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar on Monday said the $7.6 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project is expected to be completed in five years and gas supply would start in 2015. Speaking at a press conference at his residence here, the minister said that all the related matters including gas pricing are expected to be resolved by April 2011. more... (BR)

KPT, oil industry in row over coal dust dumping

Karachi Port Trust and the oil industry are in row over dumping of imported coal dust as the latter is fearing that it may cause a big explosive in oil installations due to mixing of coal particulars in the air," Business Recorder has reliably learnt. more (BR)

SPI inflation surges by 21.68 percent
The SPI inflation surged by 21.68 percent in the week ending December 9, 2010 over the same period of last year on the back of considerable increase in the price of essential commodities, revealed Federal Bureau of Statistics (FBS). more... (BR)



KSE Notices

Balochistan Glass Limited
The Board of Directors meeting of the company have been scheduled on Dec 14, 2010 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.