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Jan 06, 2011
 
Statistics
KSE-100 Index
Previous Index 12,110.26
Current Index 12,140.26
Change % 0.25%
YTD (CY10) 29.33%
YTD (FY11) 24.87%

International Indicators
  Close %age
BSE-30 20,301.10 -0.96
HANGSENG 23,757.82 0.38
NIKKEI 255 10,380.77 -0.20
FTSE 6,043.86 0.50
DJIA 11,723.88 0.28
SSEC 2,852.65 1.58
NASDAQ 2,702.20 0.78
TASI 6,696.55 -0.05
KSE(Kuwait) 6,999.40 0.36
BSE 1,423.65 0.03
MSM 6,897.07 0.43

SCRA
Jan 04, 2010 4.90
Jan, 2011 8.48
YTD (FY11) mn 203.87

Money Market Updates
6m T-bill 29-Dec-10 13.41%
12m T-bil 29-Dec-10 13.73%
3m KIBOR 13.46%
6m KIBOR 13.64%
10 yrs PIB 14.31%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 113.99
PKR/GBP 133.60
PKR/USD 85.79
PKR/OMR 220.69

Commodities
Oil $89.34/barrel
Change in % 1.07
Gold $1,376.1/ounce
Change in % -0.54

Inflation
CPI Gen. - YoY (Nov-10) 15.5%
CPI Gen. - FY11 (Jul- Nov 10) 14.4%
NFNE Core INFL - YoY (Nov 10) 9.5%
NFNE Core INFL - FY11 (Jul- Nov 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 Jan 5, 2011
Funds Offer Redemption
POAIIF 52.1530/- 51.6315/-
Daily Return 9.24%
POIAAF 61.98/- 60.43/-
Daily Return 24.18%
POAAAF 59.97/- 58.47/-
Daily Return -6.24%
POAF 10.51/-
Daily Return 33.43%
*Daily Returns are calculated as per MUFAP guidelines

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

Economic reforms in serious trouble
With the government facing a battle for survival, the federal budget and economic reforms are in serious trouble. Although officials of the finance ministry insist there is no stepping back from economic reforms given the international commitments and rapidly growing fiscal deficit and inflation, independent analysts believe the reform agenda may already have been shelved. more... (D)

PM may undo POL price hike
After loosing the main coalition partners in the House, and drawing severe criticism over the rise in petroleum, Federal Government finally bowed down to the pressure and set to withdraw the raise in POL prices. According to the media report, Prime Minister Syed Yousuf Raza Gilani would announce the withdrawing of raise in petroleum prices in the House today (Thursday), whereas it is also likely that Prime Minister Gilani would slash the recent hike by 50 per cent. Sources added that prior to the National Assembly session Prime Minister Gilani would take all the parliamentary leaders on the board during the meeting, which would held here in Islamabad. more... (TFD)

Fishy deals unveiled in OGDC audit
An Oil and Gas Development Company (OGDC) audit report has found fishy deals in hiring of rigs and payments to their suppliers, showing poor management in dealing of business involving huge foreign exchange. The audit observed that OGDC paid irrationally higher rates to joint venture partners for rigs services against what it charged from its own rigs from its partners and, resultantly, caused loss of millions of dollars to the company. more... (BR)

 

 

 

 


Politics

Taseer murder a ‘politi-kill': Awan
Talking to media at the Lahore's Defence residence of President Asif Ali Zardari's media advisor, Chaudhry Munawwar Anjum, Babar Awan termed the daylight murder of provincial head of 800 million as a major security lapse of the highest criminal order, having few historical parallels. He demanded an explanation over the fact that how as a person, declared as ineligible, ever appointed over VIP security, terming the issue as an endeavor to break the Federation apart. more... (TFD)

Naming new Punjab governor a test for Zardari

President Asif Ali Zardari faces a daunting task of finding a suitable replacement for the slain Punjab Governor Salman Taseer as the PML-N appears to have decided to oust PPP ministers from the coalition government in the province. Pakistan Muslim League-N chief Nawaz Sharif issued the threat to the People's Party precisely at the time the tough-talking Taseer fell to an assassin's bullets. more... (D)

PML-Q not ready to extend hand to govt
PML-Q President Chaudhry Shujaat Hussain has said that the PML-Q will not support the sinking boat of government. Addressing to the Central Executive Committee meeting on Wednesday, Chaudhry Shujaat went on to say that the corruption is on top in the government of PPP, adding that Prime Minister Syed Yousuf Raza Gilani and ministers invited the PML-Q to join the government but after the party meeting, the PML-Q told them that they would not support sinking boat of the government. more... (BR)

 

 

 

 

 

 

 

Sector Briefing

4 banks link up to help textilers
The Asian Development Bank (ADB), International Finance Corp (IFC), Citibank, and Pakistan's MCB Bank announced on Wednesday that they have completed a landmark trade transaction that will help boost the textile industry in Pakistan, a sector that accounts for over 60 per cent of the country's industrial activity. more... (TFD)

Power sector: reforms not being shared with Finance Ministry
The much talked about power sector reforms, initiated by the Ministry of Water and Power under the guidance of Deputy Chairman of Planning Commission and international financial institutions, are not being shared with the Finance Ministry, official sources told Business Recorder. more... (BR)

Use of solar water disinfection technology urged
As the country is confronted with energy crises, it is need of the hour to use Solar Water Disinfection (SODIS) technology for Household Water Treatment (HWT), as it is a cost-effective tool to contain microbial contamination. This was the gist of SDPI-SDC Orientation Seminar on "Household Water Treatment (HWT) best practices: Solar Water Disinfection", a project of SDPI in collaboration with Swiss Agency for Development and Co-operation (SDC). more... (BR)

 

 

KSE Notices
 
 

Baba Farid Sugar Mills Limited
The company announced the financial results of the year ended Sep 30, 2010 with LAT: PKR318.755mn EPS:PKR 33.73 more... (KSE)

Deewan Sugar Mills Limited
The company announced the financial results of the year ended Sep 30, 2010 with LAT: PKR83.47mn EPS:PKR 2.29

 

 

(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.