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Dec 21, 2010
 
Statistics
KSE-100 Index
Previous Index 11,786.09
Current Index 11,843.65
Change % 0.49%
YTD (CY10) 26.17%
YTD (FY11) 21.82%

International Indicators
  Close %age
BSE-30 19,888.88 0.21
HANGSENG 22,639.08 -0.33
NIKKEI 255 10,216.41 -0.90
FTSE 5,891.61 0.34
DJIA 11,478.13 -0.12
SSEC 2,877.11 0.85
NASDAQ 2,649.56 0.25
TASI 6,563.58 0.28
KSE(Kuwait) 6,798.00 -0.73
BSE 1,427.14 0.00
MSM 6,684.22 0.06

SCRA
Dec 15, 2010 -6.42
Dec, 2010 23.15
YTD (FY11) mn 185.88

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.41%
6m KIBOR 13.61%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 112.86
PKR/GBP 134.60
PKR/USD 85.85
PKR/OMR 220.79

Commodities
Oil $89.61/barrel
Change in % 1.90
Gold $1,388.88/ounce
Change in % 0.21

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 51.9495/- 51.43/-
Daily Return 23.92%
POIAAF 60.29/- 58.78/-
Daily Return 51.97%
POAAAF 59.11/- 57.63/-
Daily Return 42.37%
POAF 10.39/-
Daily Return 29.95%
*Daily Returns are calculated as per MUFAP guidelines

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

Govt changes its finance team again
In a major reshuffle in its economic team, the government removed on Monday Finance Secretary Salman Siddique and Federal Board of Revenue Chairman Sohail Ahmed in the midst of an imbroglio over the reformed general sales tax. more... (D)

72 percent decline in current account deficit
The country''s current account deficit has narrowed down by 72 percent during first five months of fiscal year 2010-11 mainly due to heavy inflows in home remittances and decline in goods deficit. The State Bank of Pakistan (SBP) revealed on Monday, the country''s current account deficit declined by $1.318 billion during July-November period of current fiscal yearmore... (BR)

Finland for good trade relations with Pakistan
Ambassador of Finland to Pakistan, Osmo Lipponen has said Finland is looking for good trade and cultural relations with Pakistan. Addressing members of Karachi Chamber of Commerce and Industry (KCCI), Osmo Lipponen said that although population of Pakistan is 25 times higher than that of Finland, yet volume of Finland's foreign trade earnings are four times larger than Pakistani exports. . more... (BR)

 

 

 

 

 


Politics

Mirza fate in Zardari hands
President Asif Ali Zardari has held out assurance to MQM to alleviate their reservations, saying MQM is a vital partner of ruling coalition and working relationship with them will not be allowed to be undermined. President Zardari said this during his meeting with MQM delegation which called on him in the presidency on Monday. more... (T)

Punjab government saves Rs 2.8 billion by cutting non-development expenditure
Provincial Minister for Finance, Planning and Development Tanvir Ashraf Kaira said the government had accelerated the pace of development projects, while directions had been issued for timely completion of all the projects. . more... (D)

Al Qaeda aims to 'bring down' Pakistan, says Biden
A comprehensive and broad-based plan has been evolved by the AJK government soon for the speedy industrial progress of AJK, official sources said. At the first leg of the plan a high level committee, headed by the Chairman AJK Board of Investment, has already been formed for the revival of sick industrial units located in the industrial districts of Mirpur and Bhimbher. more... (BR)

 

 

 

 

 

 

Sector Briefing

Wapda, Harpo Hydropower Consultants sign agreement
A Rs 70.434 million agreement was signed between Pakistan Water & Power Development Authority (Wapda) and Harpo Hydropower Consultants - a joint venture of three Pakistani and a German firms - here at Wapda House on Monday for updating of feasibility study of Harpo Hydropower Project. General Manager (Hydro) Planning Maqsood Shafique Qureshi and NDC Chief Executive Officer Chaudhry Ghulam Hussain signed the agreement on behalf of Wapda and the joint venture respectively. more... (BR)

A just and equitable gas supply: Gilani issues directives

Prime Minister Syed Yousuf Raza Gilani on Monday issued directives for equitable distribution of gas, across the country and strict implementation of the ECC decisions. Chairing a special high level meeting at the PM House to review the gas supply situation, particularly to the industrial sector in Punjab, Gilani called for ensuring judicious supply across the board. . more (TFD)


NML approves divestment of 10 percent shareholding in PPP
The board of directors of Nishat Mills Limited (NML) has approved divestment of its 10 percent shareholding in Pakgen Pakgen Power (PPP) (formerly AES Pak Gen Company) through Offer for Sale and listing of the shares on stock exchanges. According to an information sent to Karachi Stock Exchange (KSE), the decision was taken in the board of directors meeting held on Monday.more... (BR)

 

KSE Notices
 
 

Nishat Mills Limited
The company in the meeting held on Dec 20, 2010 hasapproed divestment of 10% shareholding in Pakagen Power Limited (formerly AES Pak Gen Pvt. Company) through offer for sale and listing of shares on Stock Exchanges 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.