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Dec 20, 2010
 
Statistics
KSE-100 Index
Previous Index 11,672.64
Current Index 11,786.09
Change % 0.97%
YTD (CY10) 25.56%
YTD (FY11) 21.23%

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 2,811.53 -3.85
NASDAQ 2,518.21 -1.46
TASI 6,577.11 0.21
KSE(Kuwait) 6,847.70 -0.08
BSE 1,427.14 0.20
MSM 6,680.44 0.68

SCRA
Dec 14, 2010 -3.48
Dec, 2010 29.58
YTD (FY11) mn 192.31

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 113.15
PKR/GBP 133.27
PKR/USD 85.90
PKR/OMR 220.79

Commodities
Oil $87.90/barrel
Change in % 0.30
Gold $1,384.80/ounce
Change in % -0.77

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 $ 1,1051
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 20, 2010
Funds Offer Redemption
POAIIF 51.9253/- 51.4060/-
Daily Return 9.00%
POIAAF 60.03/- 58.53/-
Daily Return 238.52%
POAAAF 58.90/- 57.43/-
Daily Return 101.97%
POAF 10.38/-
Daily Return 12.31%
*Daily Returns are calculated as per MUFAP guidelines

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

Unilateral tariff concession on 268 items signed: Kaira
Federal Minister for Information and Broadcasting Qamar Zaman Kaira on Sunday said that China has assured complete support to Pakistan in all sectors, besides endorsing its efforts to maintain security, sovereignty, integrity and peace in the region. more... (BR)

Release of $3.4 billion tranche: IMF formally asked to extend SBA to March 31
Islamabad has finally submitted its formal request, in writing, to the International Monetary Fund (IMF) to extend its standby arrangement (SBA)-a $11.3 billion bailout package-for three months, up to March 31, 2011. "We had actually made the request to IMF for extension in SBA to secure two remaining instalments of $3.4 billion of $11.3 billion SBA in the second week of December knowing fully well that the deadline of December 31, 2010 was, for sure, going to be missed to bring in reformed general sales tax (RGST), a condition linked by the Fund for releasing to Pakistan the remaining $3.4 billion. more... (BR)

Wen vows to boost strategic ties with Pakistan
Chinese Premier Wen Jiabao vowed Sunday to boost strategic cooperation with Pakistan as he wrapped up a three-day visit to Islamabad that concluded deals worth around 35 billion dollars. "It is our collective objective to strengthen strategic ties between our two countries," he told a joint session of Pakistan's parliament before leaving to return to China Sunday afternoon. more... (TFD)

Pakistan and China talk business: 17 pacts, four MoUs, one joint venture totalling $15 billion signed

Pakistan and China on Saturday signed 17 agreements, four MoUs and one joint venture worth $15 billion for investment in various sectors of the economy at the conclusion of a day-long Pak-China Business Co-operation Summit. The signing ceremony was witnessed by Prime Minister Syed Yousuf Raza Gilani and his Chinese counterpart Wen Jiabao. more... (BR)

 

 

 

 


Politics

Zardari asks for Nawaz help on RGST issue
Amid political uncertainty in the country, President Asif Ali Zardari on Sunday extended an olive branch to PML-N chief Nawaz Sharif, seeking his cooperation for getting the controversial Reformed General Sales Tax approved from the National Assembly and addressing some other important issues, including promulgation of a new accountability bill, threats to democracy and political instability. more... (D)

PM asks minister not to offend partners
After meeting a delegation of the Muttahida Qaumi Movement (MQM), Prime Minister Yousuf Raza Gilani, in what appears to be a damage-control move, rang up Sindh Home Minister Dr Zulfikar Mirza on Sunday evening and asked him “to refrain from issuing any public statement” about coalition partners of PPP. more... (D)

Al Qaeda aims to 'bring down' Pakistan, says Biden
Al-Qaeda is trying to "bring down" Pakistan, US Vice President Joe Biden warned Sunday, days after a war review tip-toed around Islamabad's role in fighting extremists. "Our overarching goal and our rationale for being there is to dismantle, ultimately defeat Al-Qaeda... to make sure that terrorists do not, in fact, bring down the Pakistani government, which is a nuclear power," Biden said. more... (BR)

 

 

 

 

 

 

Sector Briefing

Afghan group backs TAPI
An Afghan insurgent faction has voiced its backing for construction of a multi-billion dollar gas pipeline through Afghanistan and even pledged to provide security on a project stalled for over a decade by politics and violence. Turkmenistan, Afghanistan, Pakistan and India this month signed a preliminary agreement to push ahead with the “TAPI” pipeline, which is supported by Washington and would transport Turkmen gas over Afghan soil to consumers in India and Pakistan. more... (TFD)

Nov oil, gas output deflates
Gas produced by E&P firms in Pakistan was lowest in the month of November 2010 which stood at 3.8 billion cubic feet per day (bcfd). This production is down 12 per cent compared to the peak level of 4.3 bcfd witnessed in March 2010 while it was also down 5 per cent when compared to similar month of last year, according to the provisional numbers released by Pakistan Petroleum Information Service. more (TFD)


China to help build new dams: Qureshi
Foreign Minister Shah Mehmood Qureshi has said that we have a very long-standing friendship with China and China has helped Pakistan in every hour of need. He said that economy of China is progressing by leaps and bounds and Pakistan should take the advantage from the development of China. more... (BR)

 

KSE Notices
 
 

Adil Textile Mills Limited
The company announced the financial results for the year ended June 30, 2010 with LAT: PKR23.68mn LPS: PKR3.07 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.