Pakistan Press Releases

American Capital Energy & Infrastructure Expands Investment Team, Appoints Senior Advisors

an.admin — Thu, 23 May 2013 05:53:28 +0000

ANNAPOLIS, Maryland, May 22, 2013 /PRNewswire / Asianet-Pakistan – American Capital Energy & Infrastructure announced today that is has expanded its global investment team with two new members: Lisa Pinsley, Director of Africa Investments and Pol Mijares, Senior Associate. The company also appointed Peter Bird and Venu Nambiar as Senior Advisors. The team will focus on sourcing investments opportunities in global energy infrastructure assets as well as product and service companies in the power and energy sectors.

“We are delighted that Lisa, Pol, Peter and Venu, all experienced industry professionals, are joining the investment team,” said Paul Hanrahan, Chief Executive Officer of American Capital Energy & Infrastructure. ”Their combined experience in investing, managing and advising in the energy and infrastructure sectors, as well as their established relationships worldwide, will enable us to navigate the global energy and infrastructure market and find the best investment opportunities.”

Investment Team
Lisa Pinsley is responsible for sourcing opportunities in sub-Saharan Africa. Prior to joining American Capital Energy & Infrastructure, Ms. Pinsley served as a Vice President of AES Africa Power Company, where she focused on power and energy infrastructure opportunities on the African continent. Ms. Pinsley has 15 years of experience in emerging markets and finance. In addition, she served as Chief of Staff to the Afghan Minister of Finance focusing on the country’s economic reform programs with the International Monetary Fund and World Bank.

Prior to joining American Capital Energy & Infrastructure, Pol Mijares worked at The AES Corporation (“AES”) in a number of roles in business development, commodities, and risk management supporting businesses located throughout the United States, Europe, Asia, and Latin America. Prior to AES, Mr. Mijares was an investment banker at Bear Stearns & Co. and Banc of America Securities, LLC where he focused on executing buy-side and sell-side M&A engagements, as well as structuring high-yield and investment grade debt financings for public and closely held companies.

Senior Advisors
Peter Bird advises American Capital Energy & Infrastructure on sourcing opportunities in Asia. Until June 2012, Mr. Bird served as an Executive Vice-Chairman of Rothschild’s South East Asian global financial advisory business. In this role, Mr. Bird’s experience included advising leading corporations on acquisitions and divestitures in the infrastructure sector; advising numerous governments on privatizations in both developed and emerging economies; advising borrowers on project finance, acquisition financing, refinancing, insolvency and debt restructuring; advising utilities and public sector bodies on competitive solicitations and tender design; and advising governments on energy industry restructuring in the U.K., Europe, Australia, South America and Asia. Prior to joining Rothschild in 1990, Mr. Bird worked as an economic consultant and economic researcher focused on the energy sector and as an academic economist at the University of Stirling.

Mr. Bird serves on the board of InfraCo Asia Development Pte., Ltd., a donor-funded infrastructure development company focused on low-income emerging markets in Asia, and Vector, Ltd., a listed infrastructure group that owns and manages a portfolio of energy and fiber optic infrastructure networks in New Zealand.

Venu Nambiar advises American Capital Energy & Infrastructure on sourcing opportunities in the Middle East, North Africa, and South Asia. Prior to joining the company, Mr. Nambiar served as a Vice President of AES with primary regional responsibilities for the Middle East, North Africa and South Asia. During his tenure at AES, Mr. Nambiar held various senior positions including serving as the CEO of AES Oasis Limited, Chairman and Managing Director of AES India, and Managing Director for Business Development and M&A in Asia and Middle East. Mr. Nambiar has over 21 years of experience in the energy industry with 15 years dedicated to investing and managing growth in emerging markets.

American Capital Energy & Infrastructure is part of American Capital, Ltd.’s (Nasdaq: ACAS) (“American Capital”) asset management affiliate, American Capital Asset Management, LLC. American Capital Asset Management is dedicated to creating, capitalizing and managing alternative investment funds across asset classes, including energy and infrastructure, real estate, private equity and private finance. American Capital has committed $200 million to support American Capital Energy & Infrastructure initiatives.

ABOUT AMERICAN CAPITAL ENERGY & INFRASTRUCTURE
American Capital Energy & Infrastructure invests in global energy infrastructure assets, including power generation facilities, power distribution and transmission networks, energy transportation assets, fuel production opportunities and product and service companies focused on the power and energy sectors. For further information, please refer to www.ACEI.com.

ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital manages $21.2 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $112 billion of total assets under management (including levered assets). Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately a $13 billion market capitalization and American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately a $1.5 billion market capitalization. From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.

This press release contains forward-looking statements. The statements regarding expected results of American Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions, or changes in the conditions of the industries in which American Capital has made investments.

Contact: +1-443-214-7070
Paul Hanrahan, Chief Executive Officer
Richard Santoroski, Managing Director
Rajeev Garside, Vice President

Askari Investment Management – Daily Fund Prices

an.admin — Wed, 22 May 2013 15:15:14 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                     Date                   offer                Redemption
Askari Sovereign Cash Fund (ASCF)                 May 22, 2013             100.3902               100.3902
Askari High Yield Scheme (AHYS)                   May 22, 2013              99.7958                97.7999
Askari Sovereign Yield Enhancer (ASYE)            May 22, 2013             101.6568               100.3861
Askari Equity Fund (AEF)                          May 22, 2013             142.5979               139.7459
Askari Asset Allocation Fund (AAAF)               May 22, 2013              56.2318                54.8260
Askari Islamic Income Fund (AIIF)                 May 22, 2013             101.4476               100.4331
Askari Islamic Asset Allocation Fund (AIAAF)      May 22, 2013             135.0051               131.6300

For more information contact:
Askari Investment Management Ltd
Mezzanine Floor,
Bahria III Complex,
M.T.Khan Road,
Karachi.
PABX:+92 21 35635312-4
FAX:+92 21 35635315
UAN:+92 21 111 246 111
Customer Care: 0800 AIM(246)11
Email: info@askariinvestments.com
Web: http://www.investwithaim.com.pk/index.php

Askari Investment Management – Daily Fund Prices

an.admin — Wed, 22 May 2013 15:15:14 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                     Date                   offer                Redemption
Askari Sovereign Cash Fund (ASCF)                 May 22, 2013             100.3902               100.3902
Askari High Yield Scheme (AHYS)                   May 22, 2013              99.7958                97.7999
Askari Sovereign Yield Enhancer (ASYE)            May 22, 2013             101.6568               100.3861
Askari Equity Fund (AEF)                          May 22, 2013             142.5979               139.7459
Askari Asset Allocation Fund (AAAF)               May 22, 2013              56.2318                54.8260
Askari Islamic Income Fund (AIIF)                 May 22, 2013             101.4476               100.4331
Askari Islamic Asset Allocation Fund (AIAAF)      May 22, 2013             135.0051               131.6300

Habib Asset Management Limited – Daily Fund prices

an.admin — Wed, 22 May 2013 15:14:27 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                      Date                   Offer           Redemption
First Habib Income Fund                           May 22, 2013             100.4294           100.4294
First Habib Stock Fund                            May 22, 2013             138.2527           138.2527
First Habib Cash Fund                             May 22, 2013             100.5753           100.5753
First Habib Islamic Balanced Fund                 May 22, 2013             110.5804           110.5804

For more information contact:
Habib Asset Management Limited
Shahrah-e-Faisal Branch
19-1-A, Block-6, P.E.C.H.S.,
Shahrah-e-Faisal
Karachi.
Phone: 021-34544383-87
Web: www.habibfunds.com

Habib Asset Management Limited – Daily Fund prices

an.admin — Wed, 22 May 2013 15:14:27 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                      Date                   Offer           Redemption
First Habib Income Fund                           May 22, 2013             100.4294           100.4294
First Habib Stock Fund                            May 22, 2013             138.2527           138.2527
First Habib Cash Fund                             May 22, 2013             100.5753           100.5753
First Habib Islamic Balanced Fund                 May 22, 2013             110.5804           110.5804

For more information contact:
Habib Asset Management Limited
Shahrah-e-Faisal Branch
19-1-A, Block-6, P.E.C.H.S.,
Shahrah-e-Faisal
Karachi.
Phone: 021-34544383-87
Web: www.habibfunds.com

IGI Financial Service – IGI daily Fund Prices

an.admin — Wed, 22 May 2013 15:14:02 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                   Date            NAV             Offer           Redemption
IGI Income Fund (IGI-IF)                        May 22, 2013     101.9902         103.0101          101.9902
Stock Fund (IGI-SF)                             May 22, 2013     168.2859         172.4930          168.2859
IGI Islamic Income Fund (IGI-IIF)               May 22, 2013     101.7445         102.7619          101.7445
IGI Money Market Fund (IGI-MMF)                 May 22, 2013     101.5155         102.5307          101.5155
IGI Money Market Fund (IGI-AIF)                 May 22, 2013      43.6568          44.0934           43.6568
IGI Capital Protected Fund (IGI-CPF)            May 22, 2013     108.1513         110.3143          102.7437

For more information, contact:
IGI Financial Service
7th floor, The Forum,
Suite 701-713, G-20, Block 9,
Khayaban-e-Jami, Clifton,
Karachi – 75600, Pakistan.
Phone: +92-21 111-367-444
Fax: +92-21 35306752
Website: www.igifunds.com.pk

IGI Financial Service – IGI daily Fund Prices

an.admin — Wed, 22 May 2013 15:14:02 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                   Date            NAV             Offer           Redemption
IGI Income Fund (IGI-IF)                        May 22, 2013     101.9902         103.0101          101.9902
Stock Fund (IGI-SF)                             May 22, 2013     168.2859         172.4930          168.2859
IGI Islamic Income Fund (IGI-IIF)               May 22, 2013     101.7445         102.7619          101.7445
IGI Money Market Fund (IGI-MMF)                 May 22, 2013     101.5155         102.5307          101.5155
IGI Money Market Fund (IGI-AIF)                 May 22, 2013      43.6568          44.0934           43.6568
IGI Capital Protected Fund (IGI-CPF)            May 22, 2013     108.1513         110.3143          102.7437

Pakistan Premier Investment Group – BMA Fund

an.admin — Wed, 22 May 2013 15:13:34 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                   Date                      Offer         Redemption
BMA Chundrigarh Road Saving Fund (BCSF)         May 22, 2013                 8.2023          8.1211
BMA Empress cash Fund (BECF)                    May 22, 2013                10.2596         10.1580

For more information, contact:
BMA Asset Management Company Limited
Suite # 804, Level 8,
Unitower, I.I. Chundrigarh Road,
Karachi 74000,
Pakistan.
Tel: +92 21 111 262 111
Fax: +92 21 3242 6829
Email: info@bmafunds.com
Website: www.bmafunds.com

Pakistan Premier Investment Group – BMA Fund

an.admin — Wed, 22 May 2013 15:13:34 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                   Date                      Offer         Redemption
BMA Chundrigarh Road Saving Fund (BCSF)         May 22, 2013                 8.2023          8.1211
BMA Empress cash Fund (BECF)                    May 22, 2013                10.2596         10.1580

ABL Asset Management Limited – Daily Fund Prices in Pakistani Rupees as of May 22, 2013

an.admin — Wed, 22 May 2013 15:13:27 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                    Date                  Offer       Redemption
ABL Income Fund (ABL-IF)                        May 22, 2013             10.1189        10.1189
ABL Stock Fund (ABL-SF)                         May 22, 2013             16.5739        16.0912
ABL Islamic Income Fund (ABL-IIF)               May 22, 2013             10.1198        10.1198
ABL Government Securities Fund (ABL-GSF A)      May 22, 2013             10.0069        10.0069
ABL Government Securities Fund (ABL-GSF B)      May 22, 2013             10.0531        10.0531
ABL AMC CPF                                     May 22, 2013                   -        11.3405
ABL Cash Fund (ABL-CF)                          May 23, 2013             10.0475        10.0475

For more information, contact:
ABL Asset Management Limited
11-B, Lalazar, M.T Khan Road,
Karachi
UAN: +9221 111 225 262
Fax: +9221 9920 7409, +9221 9920 7407
Email: contactus@ablamc.com
Web: www.ablamc.com

ABL Asset Management Limited – Daily Fund Prices in Pakistani Rupees as of May 22, 2013

an.admin — Wed, 22 May 2013 15:13:27 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                    Date                  Offer       Redemption
ABL Income Fund (ABL-IF)                        May 22, 2013             10.1189        10.1189
ABL Stock Fund (ABL-SF)                         May 22, 2013             16.5739        16.0912
ABL Islamic Income Fund (ABL-IIF)               May 22, 2013             10.1198        10.1198
ABL Government Securities Fund (ABL-GSF A)      May 22, 2013             10.0069        10.0069
ABL Government Securities Fund (ABL-GSF B)      May 22, 2013             10.0531        10.0531
ABL AMC CPF                                     May 22, 2013                   -        11.3405
ABL Cash Fund (ABL-CF)                          May 23, 2013             10.0475        10.0475

PICIC Asset Management Company Limited – Daily Fund Prices PKR as of May 22, 2013

an.admin — Wed, 22 May 2013 15:13:25 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                    Date                 Offer           Redemption          NAV
PICIC Income Fund                               May 22, 2013            103.3100          102.0346
PICIC Cash Fund                                 May 23, 2013            101.9136          100.9046
PICIC Stock Fund                                May 22, 2013            153.3337          148.8677
PICIC Growth Fund                               May 22, 2013                                                36.3100
PICIC Investment Fund                           May 22, 2013                                                16.4900
PICIC Energy Fund                               May 22, 2013                                                13.8900

For more information, contact:
PICIC Asset Management Company Limited
9th Floor, Muhammadi House,
I.I. Chundrigarh Road – 74000,
Karachi
UAN: 1111 PICIC (74242)
Toll free: 0800 PICIC (74242)
Fax: (92-21) 32418055-56
Email:customerservice@picicamc.com
Web: www.picicamc.com

Pak Oman Asset Management – Daily Fund as on May 22, 2013

an.admin — Wed, 22 May 2013 15:11:23 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                        Date                Offer              Redemption          NAV
Pak OMAN Government Securities Fund (POGSF)         May 22, 2013            10.1674              10.1674
Pak Oman Advantage Fund Islamic Income (POAIIF)     May 22, 2013            52.4137              51.8896
Pak Oman Advantage Asset Allocation Fund (POAAAF)   May 22, 2013              67.01                65.33
Pak Oman Islamic Asset Allocation Fund (POIAAF)     May 22, 2013              64.72                63.10
Pak Oman Advantage Fund (POAF)                      May 22, 2013                                                  11.21

For more information, contact:
Pak Oman Asset Management Company Limited
1st Floor, Tower A Finance and Trade Centre
Shahrah-e-Faisal,
Karachi, Pakistan
Tel: +9221 563 1020 -4
Fax: +9221 563 1025
Web: www.pakomanfunds.com

National Investment Trust Limited – NIT Funds – Daily Prices

an.admin — Wed, 22 May 2013 15:10:25 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                                  Date                Sale                    Repurchase
National Investment (Unit) Trust (NIUT)                       May 22, 2013            42.80                     41.54
National Investment Trust - Income Fund (NIT-IF)              May 22, 2013          11.2550                   11.1436
National Investment Trust - Government Bond Fund (NIT-GBF)    May 22, 2013          10.9708                   10.8622

For more information, contact:
National Investment Trust Limited
NBP Building, 6th Floor,
I.I. Chundrigarh Road,
Karachi- Pakistan
Tel: 111 NIT NIT (111-648-648)
Fax: +9221 3242 2719
Web: http://www.nit.com.pk

National Investment Trust Limited – NIT Funds – Daily Prices

an.admin — Wed, 22 May 2013 15:10:25 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                                  Date                Sale                    Repurchase
National Investment (Unit) Trust (NIUT)                       May 22, 2013            42.80                     41.54
National Investment Trust - Income Fund (NIT-IF)              May 22, 2013          11.2550                   11.1436
National Investment Trust - Government Bond Fund (NIT-GBF)    May 22, 2013          10.9708                   10.8622

National Asset Management Company Limited (NAMCO) – Fund Prices

an.admin — Wed, 22 May 2013 15:09:57 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                         Date              Offer           Repurchase          NAV
Market at a Glance                                                                           (Rs)
NBF NAV                                              May 22, 2013                                              8.4085
Namco Income Fund (NIF)                              May 22, 2013         104.7971          104.7971         104.7971

For more information, contact:
National Asset Management Company Limited (NAMCO)
19-C, Sunset Lane 6, South Park Avenue,
Phase II Extension,
Defense Housing Authority (D.H.A.),
Karachi
Tel: +9221 531 2416 -419
Fax: +9221 539 5924
Email: info@namco.com.pk
Web: //http://www.namco.com.pk/

National Asset Management Company Limited (NAMCO) – Fund Prices

an.admin — Wed, 22 May 2013 15:09:57 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                         Date              Offer           Repurchase          NAV
Market at a Glance                                                                           (Rs)
NBF NAV                                              May 22, 2013                                              8.4085
Namco Income Fund (NIF)                              May 22, 2013         104.7971          104.7971         104.7971

Faysal Asset Management Limited – Net Asset Value

an.admin — Wed, 22 May 2013 15:09:21 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                      Date                   Offer                    Redemption
Faysal Asset Allocation Fund                      May 22, 2013              76.0800                     76.0800
Faysal Balanced Growth Fund                       May 22, 2013              69.3900                     69.3900
Faysal Income and Growth Fund                     May 22, 2013             105.6300                    105.6300
Faysal Islamic Savings Growth Fund                May 22, 2013             102.3000                    102.3000
Faysal Money Market Fund (FMMF)                   May 22, 2013             101.9000                    101.9000
Faysal Saving Growth Fund (FSGF)                  May 22, 2013             102.0400                    102.0400

For more information, contact:
Faysal Asset Management Limited
8th Floor, Tower A (801-806 and 818),
Saima Trade Tower,
I.I. Chundrigarh Road,
Karachi
UAN: 111 329 725
Fax: +9221 227 7301
Email: customerservice@faysalfunds.com
Web: http://www.faysalfunds.com/

Faysal Asset Management Limited – Net Asset Value

an.admin — Wed, 22 May 2013 15:09:21 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                      Date                   Offer                    Redemption
Faysal Asset Allocation Fund                      May 22, 2013              76.0800                     76.0800
Faysal Balanced Growth Fund                       May 22, 2013              69.3900                     69.3900
Faysal Income and Growth Fund                     May 22, 2013             105.6300                    105.6300
Faysal Islamic Savings Growth Fund                May 22, 2013             102.3000                    102.3000
Faysal Money Market Fund (FMMF)                   May 22, 2013             101.9000                    101.9000
Faysal Saving Growth Fund (FSGF)                  May 22, 2013             102.0400                    102.0400

Atlas Asset Management – Daily Fund Price as on May 22, 2013

an.admin — Wed, 22 May 2013 15:08:46 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                     Date                Offer         Redemption           NAV
Atlas Money Market Fund                          May 22, 2013            506.88          506.88          506.88
Atlas Income Fund                                May 22, 2013            514.87          509.77          509.77
Atlas Stock Market Fund                          May 22, 2013            535.69          525.19          525.19
Atlas Islamic Income Fund                        May 22, 2013            514.51          509.42          509.42
Atlas Islamic Stock Fund                         May 22, 2013            487.23          475.17          482.41

                                                     Date                  NAV
APF - Equity Sub Fund                            May 22, 2013            233.97
APF - Debt Sub Fund                              May 22, 2013            166.14
APF - Money Market Sub Fund                      May 22, 2013            169.43
APIF - Equity Sub Fund                           May 22, 2013            319.69
APIF - Debt Sub Fund                             May 22, 2013            154.61
APIF - Money Market Sub Fund                     May 22, 2013            163.31
Atlas Fund of Funds                              May 22, 2013             12.66

For more information, contact:
Atlas Asset Management Limited
Ground Floor, Federation House,
Sarah-e- Ferrous,
Clifton, Karachi-75600
UAN: 111-MUTUAL (6 888 25)
Fax: +9221 3537 9280
Email: info@atlasfunds.com.pk
Web: http://www.atlasfunds.com.pk/

Atlas Asset Management – Daily Fund Price as on May 22, 2013

an.admin — Wed, 22 May 2013 15:08:46 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                     Date                Offer         Redemption           NAV
Atlas Money Market Fund                          May 22, 2013            506.88          506.88          506.88
Atlas Income Fund                                May 22, 2013            514.87          509.77          509.77
Atlas Stock Market Fund                          May 22, 2013            535.69          525.19          525.19
Atlas Islamic Income Fund                        May 22, 2013            514.51          509.42          509.42
Atlas Islamic Stock Fund                         May 22, 2013            487.23          475.17          482.41

                                                     Date                  NAV
APF - Equity Sub Fund                            May 22, 2013            233.97
APF - Debt Sub Fund                              May 22, 2013            166.14
APF - Money Market Sub Fund                      May 22, 2013            169.43
APIF - Equity Sub Fund                           May 22, 2013            319.69
APIF - Debt Sub Fund                             May 22, 2013            154.61
APIF - Money Market Sub Fund                     May 22, 2013            163.31
Atlas Fund of Funds                              May 22, 2013             12.66

AKD Investment Management Limited – AKD Fund Prices

an.admin — Wed, 22 May 2013 15:08:24 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                              Date                 NAV              Rate
AKD Golden Arrow Selected Stocks Fund (GASF)               May 22, 2013          10.4900            8.1400

                                                              Date                Offer           Redemption
AKD Income Fund (AKDIF)                                    May 22, 2013          50.2617           49.7639
AKD Opportunity Fund (AKDOF)                               May 22, 2013          62.7000           60.8000
AKD Index Tracker Fund (AKDITF)                            May 22, 2013          13.3600           13.2200

For more information, contact:
AKD Investment Management Ltd.
216, Continental Trade Centre,
Block 8, Clifton,
Karachi
UAN: 111 253 465
Fax: 021 530 3125
URL: www.akdinvestment.com

AKD Investment Management Limited – AKD Fund Prices

an.admin — Wed, 22 May 2013 15:08:24 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                              Date                 NAV              Rate
AKD Golden Arrow Selected Stocks Fund (GASF)               May 22, 2013          10.4900            8.1400

                                                              Date                Offer           Redemption
AKD Income Fund (AKDIF)                                    May 22, 2013          50.2617           49.7639
AKD Opportunity Fund (AKDOF)                               May 22, 2013          62.7000           60.8000
AKD Index Tracker Fund (AKDITF)                            May 22, 2013          13.3600           13.2200

For more information, contact:
AKD Investment Management Ltd.
216, Continental Trade Centre,
Block 8, Clifton,
Karachi
UAN: 111 253 465
Fax: 021 530 3125
URL: www.akdinvestment.com

UBL Fund Managers – Latest Fund Prices

an.admin — Wed, 22 May 2013 15:08:22 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                           Date              Offer                  Redemption
UBL Liquidity Plus Fund (ULPF) Class C                 May 22, 2013        100.6095                  100.6095
UBL Savings Income Fund                                May 21, 2013        101.8942                  100.7258
United Stock Advantage Fund (USF) CLASS A              May 22, 2013         53.1000                   52.3100
UBL Government Securities Fund                         May 21, 2013        101.7945                  100.6272
UBL Principal Protected Fund - I                       May 20, 2013        134.9700                  128.2200
UBL Gold Fund                                          May 20, 2013         93.2275                   91.1137
UBL Financial Sector Bond Fund                         May 22, 2013        101.2079                  101.1875
United Growth and Income Fund (UGIF) GROWTH            May 21, 2013         83.1811                   83.1811
United Growth and Income Fund (UGIF) INCOME            May 21, 2013         84.6285                   83.1811
UBL Islamic Sovereign Fund                             May 21, 2013        101.7442                  100.5775
UBL Shariah Stock Fund                                 May 21, 2013        111.5300                  108.3900
UBL Islamic Cash Fund                                  May 22, 2013        104.4699                  104.4699
UBL Islamic Principal Preservation Fund                May 21, 2013        107.0800                  101.7200
United Islamic Income Fund (UIIF) INCOME               May 21, 2013         99.4800                   98.3400
United Islamic Income Fund (UIIF) GROWTH               May 21, 2013         98.3400                   98.3400

                                                           Date          Debt Sub Fund             Equity Sub Fund           Money Market Sub Fund
UBL Retirement Savings Fund (URSF) NAV                 May 22, 2013        135.2100                  228.6800                      132.6800
UBL Islamic Retirement Savings Fund" (UIRSF) NAV       May 21, 2013        129.0400                  226.2400                      125.7600

Redemption price is net of applicable back-end load.

For more information, contact:
UBL Fund Managers
8th Floor, State Life Building # 1,
I.I. Chundrigarh
Road, Karachi
Tel: 0800 00026
Email: info@UBLfunds.com
Website: http://www.ublfunds.com.pk/individual/

UBL Fund Managers – Latest Fund Prices

an.admin — Wed, 22 May 2013 15:08:22 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                           Date              Offer                  Redemption
UBL Liquidity Plus Fund (ULPF) Class C                 May 22, 2013        100.6095                  100.6095
UBL Savings Income Fund                                May 21, 2013        101.8942                  100.7258
United Stock Advantage Fund (USF) CLASS A              May 22, 2013         53.1000                   52.3100
UBL Government Securities Fund                         May 21, 2013        101.7945                  100.6272
UBL Principal Protected Fund - I                       May 20, 2013        134.9700                  128.2200
UBL Gold Fund                                          May 20, 2013         93.2275                   91.1137
UBL Financial Sector Bond Fund                         May 22, 2013        101.2079                  101.1875
United Growth and Income Fund (UGIF) GROWTH            May 21, 2013         83.1811                   83.1811
United Growth and Income Fund (UGIF) INCOME            May 21, 2013         84.6285                   83.1811
UBL Islamic Sovereign Fund                             May 21, 2013        101.7442                  100.5775
UBL Shariah Stock Fund                                 May 21, 2013        111.5300                  108.3900
UBL Islamic Cash Fund                                  May 22, 2013        104.4699                  104.4699
UBL Islamic Principal Preservation Fund                May 21, 2013        107.0800                  101.7200
United Islamic Income Fund (UIIF) INCOME               May 21, 2013         99.4800                   98.3400
United Islamic Income Fund (UIIF) GROWTH               May 21, 2013         98.3400                   98.3400

                                                           Date          Debt Sub Fund             Equity Sub Fund           Money Market Sub Fund
UBL Retirement Savings Fund (URSF) NAV                 May 22, 2013        135.2100                  228.6800                      132.6800
UBL Islamic Retirement Savings Fund" (UIRSF) NAV       May 21, 2013        129.0400                  226.2400                      125.7600

Redemption price is net of applicable back-end load.

Alfalah GHP Investment Management – Daily Fund Prices

an.admin — Wed, 22 May 2013 15:06:38 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                           Date            Offer Price      Redemption Price
Alfalah GHP Value Fund (AGVF)                           May 22, 2013          64.05             61.00
ALFALAH GHP INCOME MULTIPLIER FUND (AGIMF)              May 22, 2013        51.6586           50.1540
Alfalah GHP Islamic Fund (AGIF)                         May 22, 2013          68.49             65.23
Alfalah GHP Alpha Fund (AGAF)                           May 22, 2013          71.89             68.47
ALFALAH GHP CASH FUND (AGCF)                            May 22, 2013         502.69            502.69

For more information, contact:
Alfalah GHP Investment Management Limited
G. Mustafa Khalil Abbasi
B.A. Building, Main I. I. Chundrigarh Road,
Karachi- Pakistan
Tel: +9221 241 4030 -39
Email: info@alfalahghp.com
Web: http://www.alfalahghp.com/alfalahghp/index.asp

Alfalah GHP Investment Management – Daily Fund Prices

an.admin — Wed, 22 May 2013 15:06:38 +0000

Karachi, May 22, 2013 (PPI-OT):


                                                           Date            Offer Price      Redemption Price
Alfalah GHP Value Fund (AGVF)                           May 22, 2013          64.05             61.00
ALFALAH GHP INCOME MULTIPLIER FUND (AGIMF)              May 22, 2013        51.6586           50.1540
Alfalah GHP Islamic Fund (AGIF)                         May 22, 2013          68.49             65.23
Alfalah GHP Alpha Fund (AGAF)                           May 22, 2013          71.89             68.47
ALFALAH GHP CASH FUND (AGCF)                            May 22, 2013         502.69            502.69

KASB Asset Management-Daily Net Asset Value

an.admin — Wed, 22 May 2013 15:05:42 +0000

Karachi, May 22, 2013 (PPI-OT):


Name of the Fund                                Date                 Offer Price        Redemption Price     Redemption Price
                                                                                                             with Load
KASB Cash Fund                              May 23, 2013              103.6476              102.6111
Crosby Dragon Fund                          May 22, 2013              117.1500              114.8500
KASB Islamic Income Opportunity Fund        May 22, 2013              104.0384              102.9980
KASB Income Opportunity Fund                May 22, 2013               75.9907               75.9907          75.6107
KASB Asset Allocation Fund                  May 22, 2013               50.2700               49.2600

For more information, contact:
KASB Funds Limited
5th Floor, Trade Center,
I.I. Chundrigar Road,
Karachi
UAN: +9221 111 535 535
Fax: +9221 3262 4635
Web: http://www.kasbfunds.com/

KASB Asset Management-Daily Net Asset Value

an.admin — Wed, 22 May 2013 15:05:42 +0000

Karachi, May 22, 2013 (PPI-OT):


Name of the Fund                                Date                 Offer Price        Redemption Price     Redemption Price
                                                                                                             with Load
KASB Cash Fund                              May 23, 2013              103.6476              102.6111
Crosby Dragon Fund                          May 22, 2013              117.1500              114.8500
KASB Islamic Income Opportunity Fund        May 22, 2013              104.0384              102.9980
KASB Income Opportunity Fund                May 22, 2013               75.9907               75.9907          75.6107
KASB Asset Allocation Fund                  May 22, 2013               50.2700               49.2600

For more information, contact:
KASB Funds Limited
5th Floor, Trade Center,
I.I. Chundrigar Road,
Karachi
UAN: +9221 111 535 535
Fax: +9221 3262 4635
Web: http://www.kasbfunds.com/

Daily Net Asset Value in Pakistani Rupees for May 22, 2013

an.admin — Wed, 22 May 2013 15:05:15 +0000

Karachi, May 22, 2013 (PPI-OT):


Fund Name                                              Date              Offer Price     Redemption Price
NAFA Money Market Fund                             May 22, 2013             10.1188          10.0685
NAFA Government Securities Liquid Fund             May 22, 2013             10.0904          10.0904
NAFA Savings Plus Fund                             May 22, 2013             10.1402          10.0898
NAFA Financial Sector Income Fund                  May 22, 2013             10.3005          10.1985
NAFA Income Opportunity Fund                       May 22, 2013             10.3866          10.3866
NAFA Riba Free Savings Fund                        May 22, 2013             10.1792          10.1286
NAFA Income Fund                                   May 22, 2013              9.5821           9.4872
NAFA Islamic Aggressive Income Fund                May 22, 2013              9.1185           9.0282
NAFA Multi Asset Fund                              May 22, 2013             13.6502          13.2526
NAFA Islamic Multi Asset Fund                      May 22, 2013             13.6809          13.2824
NAFA Stock Fund                                    May 22, 2013             11.0652          10.7429
NAFA Asset Allocation Fund                         May 22, 2013             13.3126          13.0516

For more information, contact:
National Fullerton Asset Management Limited
9th Floor, Adamjee House,
I.I. Chundrigar Road,
Karachi- Pakistan
Tel: +9221 111 111 632
Fax: +9221 3246 7605
Email: info@nafafunds.com
URL: www.nafafunds.com

Daily Net Asset Value in Pakistani Rupees for May 22, 2013

an.admin — Wed, 22 May 2013 15:05:15 +0000

Karachi, May 22, 2013 (PPI-OT):


Fund Name                                              Date              Offer Price     Redemption Price
NAFA Money Market Fund                             May 22, 2013             10.1188          10.0685
NAFA Government Securities Liquid Fund             May 22, 2013             10.0904          10.0904
NAFA Savings Plus Fund                             May 22, 2013             10.1402          10.0898
NAFA Financial Sector Income Fund                  May 22, 2013             10.3005          10.1985
NAFA Income Opportunity Fund                       May 22, 2013             10.3866          10.3866
NAFA Riba Free Savings Fund                        May 22, 2013             10.1792          10.1286
NAFA Income Fund                                   May 22, 2013              9.5821           9.4872
NAFA Islamic Aggressive Income Fund                May 22, 2013              9.1185           9.0282
NAFA Multi Asset Fund                              May 22, 2013             13.6502          13.2526
NAFA Islamic Multi Asset Fund                      May 22, 2013             13.6809          13.2824
NAFA Stock Fund                                    May 22, 2013             11.0652          10.7429
NAFA Asset Allocation Fund                         May 22, 2013             13.3126          13.0516

Ranbaxy Announces Improved Business Standards and Quality Assurance Initiatives

an.admin — Wed, 22 May 2013 14:59:57 +0000

TOKYO, May 22 /Kyodo JBN-AsiaNet / Asianet-Pakistan –

Ranbaxy Laboratories Limited (hereafter, Ranbaxy), a subsidiary of Daiichi Sankyo Co., Ltd. (hereafter, Daiichi Sankyo), announced on May 22 the actions that Ranbaxy has taken in recent years to address past conduct under prior management (http://www.daiichisankyo.com/media_investors/media_relations/press_releases/index.html).

Daiichi Sankyo continues to support Ranbaxy in its efforts to address and correct the conduct of the past which led to the investigations by the U.S. Department of Justice (“DOJ”) and the U.S. Food and Drug Administration (“USFDA”). These efforts include significant changes to Ranbaxy’s management, culture, operations and compliance.

Daiichi Sankyo believes that certain former shareholders of Ranbaxy concealed and misrepresented critical information concerning the U.S. DOJ and FDA investigations. Daiichi Sankyo is currently pursuing its available legal remedies and cannot comment further on the subject at this time.

About Daiichi Sankyo Co., Ltd.

Listed: Code No.: 4568, First Section of Tokyo, Osaka and Nagoya Stock Exchanges President and CEO: Joji Nakayama

Source: Daiichi Sankyo Co., Ltd.

Contact:
Noriaki Ishida
Corporate Officer & Vice President
Corporate Communications Department
Daiichi Sankyo Co., Ltd.
Tel: +81-3-6225-1126
e-mail: kondo.toshiya.cj@daiichisankyo.co.jp

http://www.daiichisankyo.com/

Rivers Flows and Reservoirs Level Report

an.admin — Wed, 22 May 2013 14:51:20 +0000

Lahore, May 22, 2013 (PPI-OT): The position of the river inflows/outflows and the reservoirs levels today is as under:


Rivers                         Inflows              Outflows                  Remarks
                              (In Cusecs)          (In Cusecs)

Indus at Tarbela                 80700                 70000            Mean flows of 24 hours
Kabul At Nowshera                84200                 84200            Mean Flows of 24 hrs.
Jhelum at Mangla                 62100                 38000            Mean flows of 24 hours
Chenab at Marala                 47200                 25200            Flows at 0600 hours

Barrages                       Inflows              Outflows                  Remarks
                              (In Cusecs)          (In Cusecs)

Jinnah                          132600                125600            Flow at 0600 hours
Chashma                         133600                136000            Mean flows of 24 hours
Taunsa                           84900                 65900            Flow at 0600 hours
Panjnad                           4800                   Nil            Flow at 0600 hours
Guddu                            41200                 39200            Flow at 0600 hours
Sukkur                           34100                  8900            Flow at 0600 hours
Kotri                             8152                   Nil            Flow at 0600 hours

Reservoirs                   Present Level         Dead Level         Maximum level     Present
(at 0600 hours)             (Above Sea Level)    (Above Sea Level)      (ft.)           Live Storage

Tarbela                       1391.80 Feet         1378.00 Feet        1550.00          0.162 MAF
Mangla                        1111.65 Feet         1040.00 Feet        1242.00          0.830 MAF
Chashma                        641.70 Feet          637.00 Feet         649.00          0.068 MAF

For more information, contact:
Muhammad Abid Rana
Director Public Relations
Water and Power Development Authority (WAPDA)
G-32, WAPDA House, Lahore
Tel: +9242 9920 2633 and +9242 9920 2211 -2033 -2029
Cell: +92333 445 8293
Email: mabidrana@gmail.com

Khuhro says Sindh Assembly secretariat has not received any Gazette notification of winning candidates from Election Commission of Pakistan

an.admin — Wed, 22 May 2013 14:51:11 +0000

Karachi, May 22, 2013 (PPI-OT): Speaker Sindh Assembly Nisar Ahmed Khuhro has said assembly secretariat has not received any gazzate notification of winning candidates from ECP and still no any date is finallized for summoning of Sindh PA session regarding formation of Sindh Government. He was talking to media persons at his Sindh Assembly office here on Wednesday.

He said after 18th amendment when gazette notification of winning candidates will be issued from ECP till that day Sindh PA session can be summoned with 21 days and during these 21 days special Sindh Assembly session can be summoned within the notice of two or three days for the formation of Sindh government.

He said on the first day of PA session oath will be administered from elected members and on the second day nomination papers will be filed for Speaker and Deputy Speaker slot and on the third day members will elect leader of the house.

In a query Mr, Khuhro said party leadership will decide and annouce the candidate of Chief Minister in Sindh and all should accept the party decision because every one is bound of party discipline.

He said in the past he has accepted party decision and now he will also accept party decision regarding new responsibilities.

Nisar Ahmed Khuhro said those parties who were coalition partners with PPP now PPP will also go ahead with same coalition partners because PPP don’t believe in soloflite . Replying in a question he said CM and Speaker will be from PPP in Sindh.

For more information, contact:
Provincial Assembly of Sindh
Sindh Assembly Building
Court Road
Karachi, Pakistan
Tel: (021) 9212000
Fax: (021) 9212033

United Nations High Representative for Refugees inaugurates newly-constructed Refugee Affected and Hosting Area building

an.admin — Wed, 22 May 2013 14:51:09 +0000

Islamabad, May 22, 2013 (PPI-OT): The UN Refugee Agency on Wednesday inaugurated a newly-constructed Refugee Affected and Hosting Area (RAHA) Secretariat building in Islamabad.

The building was constructed jointly by UNHCR and The United Nations Office for Project Services (UNOPS), and the facility was opened in a joint ceremony by the Ministry of States and Frontier Regions (SAFRON), UNHCR and UNOPS. Other RAHA actors, including UN sister agencies and German Government agencies also attended the event.

Speaking at the occasion, UNHCR’s Representative in Pakistan, Neill Wright, said that the opening ceremony marks the start of improved national RAHA coordination under one roof during the expansion of the RAHA initiative. “This building will help to bring the RAHA team together to better plan and implement strategies in a well-coordinated manner,” the UNHCR Representative explained.

In order to augment management and implementation capacity as discussed in the stakeholders’ conference on RAHA, the Representative noted the importance of consolidating RAHA structures both in Islamabad and in the provinces.

“RAHA is the largest component of the Solutions Strategy for Afghan Refugees (SSAR), accounting for almost 80 per cent of donor contributions for implementing that strategy in Pakistan,” he added.

The Representative lauded the efforts of the Government of Pakistan, participating UN Agencies and donors in bringing RAHA to its current level of success. He advocated for continued engagement, “If we are to maintain this progress, we must deepen, broaden and strengthen our partnership with the active cooperation of all stakeholders, under the leadership of the Government of Pakistan.”

The Chief Commissioner of Afghan Refugees, Dr Imran Zeb, present at the occasion, said that the Government of Pakistan attached utmost importance to the RAHA initiative, stating, “The impact of RAHA has been enormous. The Government appreciates the team work demonstrated by the RAHA programme.”

He announced that by 30 June, he anticipates the government having in place a new national strategy outlining the future policies regarding Afghan refugees in Pakistan.

For more information, contact:
Ms Duniya Aslam Khan
United Nations High Commissioner for Refugees (UNHCR)
Quaid-e-Azam University Road, Diplomatic Enclave 2, Sector G-4/2, Islamabad
Tel: +9251 282 9502 -6
Cell: 0300-501-7939,
Fax: +9251 227 9455
E-mail, khand@unhcr.org

United States funds New English Language Lab for Orphans

an.admin — Wed, 22 May 2013 14:48:37 +0000

Islamabad, May 22, 2013 (PPI-OT): U.S. Ambassador Richard Olson joined staff of the SOS Children’s Village of Islamabad to inaugurate a new English language laboratory at SOS today. Established with a grant from the U.S. Ambassador’s Fund, the new lab will enable the children living at the SOS Children’s Village to improve their English-language skills.

To furnish the lab, the U.S. government bought 22 computers, furniture, a printer, and special English-language software. “The U.S. government funds comprehensive education programs that will help millions of Pakistani children. Our funding of the new English-language lab for the SOS Children’s Village is an example of this assistance. It shows how the United States and Pakistan can work together to improve the lives of Pakistan’s children,” said Ambassador Olson at the inauguration of the English lab.

When asked about the impact of this English language lab, SOS Children’s Village of Islamabad Chairperson, Ms. Naznin Murtaza, said, “English has become the common language of business and education throughout the world.

However, most of the SOS children are from backgrounds that have not afforded them the opportunities to learn English. The new U.S.-funded English language lab will help these children overcome that challenge and equip them with English-language skills so they can rise as far as their talent and hard work will take them.”

The SOS Children’s Village of Islamabad was established in July 2011, and is currently supporting 92 boys and girls, along with 13 mothers. Most of these children are from Azad Jammu and Kashmir, and were orphaned by the devastating 2005 earthquake.

This initiative is one part of a comprehensive U.S. education assistance program, which includes building or rehabilitating nearly 800 schools; launching new degree programs in education at 90 teacher colleges and universities; providing scholarships for 12,000 students to study in Pakistan; and operating the largest Fulbright academic exchange program in the world.

The U.S. Ambassador’s Fund is a $15 million grant program managed by USAID and implemented under a contract with the National Rural Support Program (NRSP). The fund provides opportunities for Pakistani NGOs, civil society groups, private sector organizations, and communities to apply for and receive funding assistance to improve basic economic or social conditions at the local community level and support high-impact, quick-implementation activities. Interested parties should visit NRSP’s website at www.sgafp.org.pk.

To learn more about many other U.S.-Pakistan initiatives that are making a positive impact on the lives of Pakistanis – in energy, economic development, and health – please visit http://transition.usaid.gov/pk/ or email us at uspakassistance@state.gov.

For more information, contact:
Alberto Rodriguez
Spokesman
Information Office Public Affairs Section
Embassy of the United States of America
U.S. Embassy, Islamabad- Pakistan
Cell: +92300 501 2640
Tel: +9251-208 0000
Fax: +9251-227 8607
E-mail: webmasterisb@state.gov

Members to fill seats reserved for women allocated to a Province shall be elected through Proportional Representation System of Political Parties’ lists of candidates on basis of general seats won by each political party: Election Commission of Pakistan

an.admin — Wed, 22 May 2013 14:48:36 +0000

Islamabad, May 22, 2013 (PPI-OT): The Election Commission of Pakistan has drawn attention to sub-clause (d) of Clause (6) of Article 51 of the Constitution of Islamic Republic of Pakistan, which provides that the members to fill seats reserved for women which are allocated to a Province shall be elected through Proportional Representation System of Political Parties’ lists of candidates on the basis of total number of general seats won by each political party from the Province concerned in the National Assembly. Sub-Clause (e) further provides that the members to fill seats reserved for non-Muslims shall be elected through Proportional Representation system of political parties list of candidates on the basis of total number of general seats owned by each political party in the National Assembly.

2. The aforesaid provisions of the Constitution further provide that the total number of general seats shall include the independent returned candidate or candidates who may duly join such political party within three (3) days of the publication in the official Gazette of the names of the returned candidates.

3. The independent returned candidates are, therefore, required to:

i- join any political party, if he or she so desires, through a written consent to the leader of the political party for joining his party,

ii- the party leader of the political party shall inform the Election Commission of such joining of an independent candidate through a letter to be addressed to the Election Commission,

iii- each independent candidate shall also submit an affidavit stating that he or she is joining a particular political party voluntarily and without any coercion,

iv- the affidavit shall be duly sworn before the Oath Commissioner and shall be deposited with the Provincial Election Commissioner concerned or with the Deputy Director (Cord.), Election Commission of Pakistan Secretariat, Islamabad in person.

v- on receipt of such affidavit, the PEC concerned or Deputy Director (Cord.), ECP Secretariat, Islamabad shall record statement on the affidavit that the same has been deposited in person by that independent candidate to whom the affidavit relates.

For more information, contact:
Election Commission of Pakistan (ECP)
Election Commission of Pakistan Secretariat
Election House, Constitution Avenue G-5/2,
Islamabad
Tel: +9251 920 1975, +9251 920 6062
Fax: +9251 920 5402, +9251 920 5300

KASB Securities Limited and Economics Research- The Keystone – Equities

an.admin — Wed, 22 May 2013 14:45:58 +0000

Karachi, May 22, 2013 (PPI-OT): KSE-100: Relentless momentum gaining stupendously

Relentless bull trend takes another leap forward taking out the big figure 21,000 and was aided by exorbitant 71% increase in volume.

According to KASB Securities Limited what concerns us is that prevailing rally without a reasonable breather may be prone to counter trend moves of equally strong momentum as has been witnessed in the past. ƒ

Having said that, NBP, BAFL, PPL, EPCL, and NCL remain KASB Securities Limited favourites picks but KASB Securities Limited does recommend keeping the previous day’s low as the risk level.

Analysis and Overview:
Achieving another milestone KSE-100 gained 354 points to conclude the session at an all time high and above the psychological mark of 21,000. Importantly volume activity today also remained exorbitant clocking in 71% higher than the previous session. Similar enthusiasm was last witnessed on Mar 1, 2013.

What concerns us at prevailing levels and which calls for a prudent line of action is that the rally has continued without any reasonable breather. Such moves are prone to counter trend waves of equally strong momentum and have been witnessed on many occasions in history particularly in 2005, 2006 and 2008.
Having said that, NBP, BAFL, PPL, EPCL, NML and NCL remain KASB Securities Limited favourites picks in the near-term but KASB Securities Limited does recommend keeping the previous day’s low as the risk.

KASB Securities Limited and Economics Research- Commodities Corner

an.admin — Wed, 22 May 2013 14:44:27 +0000

Karachi, May 22, 2013 (PPI-OT): Markets await Fed speech and FOMC minutes due today

FOMC member Bullard’s comments regarding continuation of quantitative easing sent speculative wave across markets, which were anticipating potential tapering of bond buying on improved labour markets. As a result, equities advanced with Dow Jones and SandP 500 closing at record highs.

According to KASB Securities Limited mid-day rally for precious metals failed to hold ground, closing down by the end of the session (gold -1.25%, silver -1.98%). Crude oil price on the other hand, remained listless.


Key events/data releases 
Time    Currency Impact Event                             Forecast    Previous 
22 May, 2013 Wednesday 
All Day  EUR   Medium  EU Economic Summit                     -          - 
8:07am   JPY   High   Monetary Policy Statement               -          - 
12:24pm  JPY   High   BoJ Press Conference                    -          - 
1:30pm   GBP   High   MPC Meeting Minutes                     -          - 
1:30pm   GBP   High   Retail Sales m/m                       0.00%     -0.70% 
7:00pm   USD   High   Existing Home Sales                    4.99M      4.92M 
7:00pm   USD   High   Fed Chairman Bernanke Testifies         -          - 
7:30pm   USD   Medium Crude Oil Inventories                  (0.4M)    (0.6M) 
11:00pm  USD   High   FOMC Meeting Minutes                    -          - 
23 May, 2013 Thursday 
12:30pm  EUR   High   German Flash Manufacturing PMI          48.60     48.10 
1:00pm   EUR   Medium Flash Manufacturing PMI                 47.10     46.70 
1:30pm   GBP   High   Second Estimate GDP q/q                  0.30%     0.30% 
5:30pm   USD   High   Unemployment Claims                      347K      360K 
7:00pm   EUR   Low    Consumer Confidence                      -22        -22 
7:00pm   USD   High   New Home Sales                           429K      417K 

Source: www.forexfactory.com/calendar

Gold Spot

Technical Strategy: Buy on Weakness
Price levels around US$1,350 remains the pivot support in the near-term and from here onwards an upward move towards US$1,400 1,405 cannot be ruled out. KASB Securities Limited recommends buying gold around US$1,380 with risk defined below US$1,369 targeting the aforementioned level. Should yellow metal price cross above US$1,411, this move will give next potential target of US$1,423 – 1,430.

Silver Spot

Technical Strategy: Buy on Weakness
Ability to sustain above US$22.00 now reflects a possible up wave towards US$22.92 23.45. KASB Securities Limited recommends playing this upward wave by buying in between US$22.45 22.30 with risk defined below US$21.81.

WTI Spot (Crude Oil)

Technical Strategy: Sell on Strength
A strong resistance level of US$97.50 has been restricting every bullish wave for last few weeks. Moreover, 4H charts indicate formation of a head and shoulder which has corrective connotation in the near-term. Thus KASB Securities Limited suggests selling on strength i.e. in between US$96.30 – 96.75 targeting US$95.50 – 94.50 and later US$93.50. Place risk above US$97.50.

AKD Securities Equity Research – Pakistan weekly update

an.admin — Wed, 22 May 2013 14:43:34 +0000

Karachi, May 22, 2013 (PPI-OT): Full Throttle

Short-Term View: A breakout gap accompanying strong candle sets continuation towards 21,336 and 21,946 levels.

According to AKD Securities thrust of impulse is strong enough to produce further gaps in the sessions ahead (i.e. run-away gap and exhaustion gap). Stay long, aiming for 21,800 21,946 levels (take-proﬁt). Preferred picks ENGRO, FFBL, OGDC, PSO, EPCL, PTC, AICL, UBL and NBP. Buy the dips!

Intermediate View: All the ingredients (momentum, volume and market internals) for continuation of an inter- mediate uptrend remain intact. Shift in 14-week RSI (momentum oscillator) to upper readings (80—100) should not be viewed as a downright indication of an overbought market. On a larger degree, AKD Securities see the primary in-pulse striding for 22,740 23,682 levels.

Key supports on the downside reside around 20,000, 19,664 and 18,747 levels. Supported by a series of higher highs and higher lows, the general theme continues to appear con-structive / bullish above the cloud support and the 55-day average. AKD Securities finds strong potential in ENGRO, PSO, PTC, SNGP, MARI, EPCL, AICL, and BOP.

Taurus Securities Limited Market Roundup

an.admin — Wed, 22 May 2013 14:43:33 +0000

Karachi, May 22, 2013 (PPI-OT): KSE-100 index gained 354 points yesterday to close at 21,168.00 points with 444mn shares being traded.

According to Taurus Securities Limited top performers as per index points were OGDC, FFC and PSO whereas; top decliners were NATF, DAWH and NIB. Activity was mainly concentrated in Construction and Materials, Commercial Banks and Fixed Line Telecom.

Taurus Securities Limited recommends investors to sell on Strength.

AKD Quotidian about — Pakistan Market: Foreign interest leading the way

an.admin — Wed, 22 May 2013 14:43:30 +0000

Karachi, May 22, 2013 (PPI-OT): Foreign investors pumped a robust US$26mn into the Pakistan Market yesterday where a strong uptick in FPI flows (US$221mn CYTD as per Bloomberg) has dilven the KSE-1 00 Index to return 25%CYTD.

According to AKD Securities considering this recent foreign inflow (0.5% of total market capitalization) is significantly lower than for regional peers such as India, Philippines, Vietnam and Taiwan, and that Pakistan still trades at a steep 38% discount to the MSCI Asia Pacific Index, AKD Securities believes foreign investors will likely remain engaged with the Pakistan Market.

This should lead to a continued rerating in valuation multiples, provided clarity emerges on foreign assistance, where current PIE of 8.5x compares favourably against average PIE of 9.Ox in a single-digit interest rate environment (peak PIE of 13x).

In this regard, while Nishat Group stocks have been among the top gainers CYTD. several quality companies such as BAHL, FATIMA and FFC have deeply underperformed the Index and may potentially depict a catch-up rally going forward. In addition to these, AKD Securities also retain preference for DGKC, ENGRO, PTC, PSO and NML.

Foreign interest can continue: According to Bloomberg data, the Pakistan Market has witnessed Net FPI inflow of US$221 mn CY1 3TD (NCCPL data: US$279mn CY13TD). This compares against net inflow of US$126mn across full-year CY12, when foreign investor interest was a key driving force behind the KSE-100 Index’s 49% rise. While foreign inflows into Pakistan have sharply accelerated of late, CY13TD FRI is still only about 0.5% of the total market capitalization of -US$47bn.

This is significantly lower than 2.3% for India and also lower than O.63%-O.85% for Taiwan, Vietnam and the Philippines. This, together with Pakistan’s continued steep discount to the region (38% discount to the MSCI Asia Pacific Index) leads us to believe foreign investors will likely remain engaged with the Pakistan Market.

Rerating underway: The KSE-100 Index has returned 25%CYTD to trade at a forward PIE of 85x, a 28-month peak. In this regard, AKD Securities speculate that investors are assigning a lower risk premium to the Pakistan Market where Pakistan’s CDS spread has contracted to 9.08%, down from recent peak level of 10.8% in Mar13. Going forward, the rerating process I ray continue if there is no reversal in the monetary policy cycle, particularly if materialization of any foreign assistance (e.g. Saudi oil facility; tirther release of CSF) alleviates the Balance of Payments position in the near-term. Note that the Pakistan Markets PIE has averaged 9.Ox in a single-digit interest rate environment (peak PIE of 13x).

Focusing on underperformers: While Nishat Group stocks have been among the top gainers CY13TD, several quality companies have deeply underperformed the KSE-100 Index and could potentially depict a catch-up rally going forward.

These laggards include BAHL, FABL, FATIMA, FFC and LOTCHEM, among others, which have all posted negative returns relative to the index. In addition to these, AKD Securities also retain preference for DGKC, ENGRO, PTC, PSO and NML. Risks factors remain in the form of Balance of Payments concerns, a slowdown in profitability growth for Index heavyweights Banks and Oil and Gas and any negative shock in the upcoming FY14 Budget.

Price quotes of Pakistan Mercantile

an.admin — Wed, 22 May 2013 14:41:35 +0000

Karachi, May 22, 2013 (PPI-OT):


Total Volume (Lots):                               11,426

Traded Value (Rs):                          3,503,209,748

Commodity              Price Quotation              Open            Close

CRUDE OIL              $ Per Barrel                96.50            95.69

SILVER                 $ Per Ounce                22.565           22.560

GOLD                   $ Per Ounce              1,380.80         1,385.00

GOLD                  Rs Per 10 gms               44,394           44,565

GOLD                  Rs Per Tola                 53,656           53,778

RICEIRRI6             Rs Per 100 kg                3,576            3,575

PALMOLEIN             Rs Per Maund                 4,382            4,380

SUGAR                 Rs Per kg                    45.72            45.34

ICOTTON               US Cents per pound           85.33            84.65

WHEAT                 Rs Per 100 kg                3,175            3,174

Price quotes reflects the trades from 04:00 pm previous trading day to 04:00 pm current trading day

For more information, contact:
Sarang Abbasi
Asst. Manager, Risk & Analytics
Pakistan Mercantile Exchange
9th Floor, PRC Towers, 32-A,
Lalazar Drive M.T.Khan Road,
Karachi, Pakistan.
Cell: +92-03215148905
Fax: +92-35611263
UAN: +92-21-111-623-623, 99210650-61
Web: www.pmex.com.pk

Karachi Stock Exchange market highlights

an.admin — Wed, 22 May 2013 14:40:57 +0000

Karachi, May 22, 2013 (PPI-OT):


KSE - MARKET HIGHLIGHTS

SL.NO        RECORDS                                      DATE               CLOSING           NET         HIGHEST             TOTAL PAID-UP         MARKET
                                                                             INDEX             CHANGE      TURNOVER             CAPITAL            CAPITALISATION
                                                                                                                               RS. IN MN.           RS. IN MN.

01.          Highest KSE-100 Index                      22-05-2013          21458.90          290.90           -              1,114,785.19          5,210,347.85

02           Maximum Increase in KSE-100 Index          24-06-2008          12122.67          +960.50          -                706,220.40          3,730,726.49

03.          Maximum Decrease in KSE-100 Index          31-12-2007          14075.83          -696.25          -                671,255.82          4,329,909.78

04.          Lowest KSE-100 Index                       14-07-1998            765.74          -                -                211,313.35            234,145.74

05.          Highest Turnover (T+3)                     16-04-2004           5582.28          -          1,122,496,620          364,600.69          1,489,458.53

For more information, contact:
S. Munawar Ali
Senior Manager
Public Relations
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

State Bank of Pakistan announce rates for conversion of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar Bonds and profit thereon

an.admin — Wed, 22 May 2013 14:40:43 +0000

Karachi, May 22, 2013 (PPI-OT): The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S Dollar Bonds and profit thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E-25 deposits) by the State Bank on May 23, 2013.


Currency          Rate in Pak Rupee
U.S. Dollar          98.5120
Japanese Yen          0.9577
Pound Sterling      148.7531
Euro                127.5435

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

Lahore Township Industries Association to launch protest against power outages

an.admin — Wed, 22 May 2013 14:39:15 +0000

Lahore, May 22, 2013 (PPI-OT): Lahore Township Industries Association has decided to launch protest against unscheduled prolonged power outages.

The decision to this regard was taken at a meeting here on Wednesday. Chairman LTIA Nasrullah Mughal presided over the meeting while PIAF Chairman Malik Tahir Javed, former Chairmen of the Association, Executive Members and a large number of industrialists were present in the meeting.

As per decision, the industrialists and workers of Lahore Township Industrial Area would stage a protest at various points in the industrial area on the date to be communicated by the LTIA to the industrial units soon. The protest would be led by the Chairman Lahore Township Industrial Area Nasrullah Mughal while the other leadership would also participate.

Earlier, addressing the LTIA Executive Committee, Nasrullah Mughal said that caretaker government would have to announce some relief for the industry as the recent crisis has left a number of industrialist with no option but to close down their industrial units and if some relief package was not announced it would not be able for the economy to get back on rails.

The LTIA Chairman said that a number of times concerned LESCO authorities were informed of the problem s of the industry due to non-availability of power, but they did not respond and only because o their cold attitude, the LTIA has decided to register their protest .

For more information, Contact:
Khalil-ur-Rehman
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Email: Info@piaf.pk

Yellow metal shine on account of strong demand from China

an.admin — Wed, 22 May 2013 14:38:53 +0000

Karachi, May 22, 2013 (PPI-OT): The yellow metal shine on account of strong demand from China, the world’s second-biggest gold consumer after India, and Federal Reserve officials allayed investor concerns that the U.S. central bank will soon exit its bullion-friendly bond purchases.

Malaysian palm oil futures rose to the highest in more than one month on Wednesday, as investors pinned their hopes on demand recovery ahead of the Muslim holy month of Ramadan.

Cotton futures already headed for their biggest monthly drop since September will fall further to the lowest price since late January, according to technical analysis by Michael T. Sweeney at broker Marex Spectron.

After a five-month rally that sent cotton to an 11-month high of 93.93 cents a pound on March 15, prices on ICE Futures U.S. fell below a 50-day moving average of 85.47 cents on April 8. The commodity slid 1.1 percent last month and was down 4.1 percent in May as of yesterday, when it closed at 83.86 cents, the first settlement this year below the 100-day moving average.

Settlement Prices at PMEX were as follows with volumes at Rs. 3.50 billion with 11,426 lots traded:

GOLD: USD 1,385.00 /t oz
SILVER: USD 22.560 /t oz
CRUDE OIL: USD 95.69 / barrel
IRRI-6: Rs. 3,575 /100 kg
Palmolein: Rs. 4,380 / Mound
Sugar: Rs. 45.34/kg
Wheat: Rs. 3,174/100 kg
ICotton: US cents/pound 84.65

For more information, contact:
Sarang Abbasi
Asst. Manager, Risk and Analytics
Pakistan Mercantile Exchange
9th Floor, PRC Towers, 32-A,
Lalazar Drive M.T.Khan Road,
Karachi, Pakistan.
Cell: +92-03215148905
Fax: +92-35611263
UAN: +92-21-111-623-623, 99210650-61
Web: www.pmex.com.pk

Lahore Chamber of Commerce and Industry expresses optimism that Chinese Prime Minister’s visit to Pakistan will help open new avenues of cooperation besides reinforcing economic partnership between the two countries

an.admin — Wed, 22 May 2013 14:38:28 +0000

Lahore, May 22, 2013 (PPI-OT): The Lahore Chamber of Commerce and Industry on Wednesday expressed optimism that Chinese Prime Minister Li Keqiang’s visit to Pakistan will help open up new avenues of cooperation besides reinforcing the economic partnership between the two countries as in the era of globalization, interdependence is the basic feature defining state-to-state relations.

In a statement issued here, the LCCI President Farooq Iftikhar said that the business community has attached great significance to Chinese Prime Minister’s visit to Pakistan that is going to intensify the economic cooperation between the two sides.

The LCCI President said that the bond between China and Pakistan is unbreakable and the trade and economic ties as a whole have maintained growth momentum. “Pakistani nation has feelings of great respect for China who always extended admirable cooperation to the Pakistan at all fronts. China has always backed Pakistan in areas of mutual benefit and Pakistani people are proud of Pak-China exemplary friendship.”

He said that the Lahore Chamber of Commerce and Industry believes that China is an important regional and international player; therefore, its role is crucial in many ways.

He said that at a time when Chinese are striving to explore the untapped market in Pakistan, the business community here is desirous of transfer of Chinese technology to upgrade their manufacturing facilities.

Currently, bilateral trade between Pakistan and China stands at $12 billion a year. “We will certainly want to push this figure to over $15 billion in next two years,” said the LCCI President. More than 100 Chinese companies are already working on different projects in Pakistan with an investment of about $2bn.

“Pakistan has already given China a contract to develop and operate the Gwadar Port, and both countries don’t seem to want to stop there, and will work on deepening their economic and trade ties.”

He said that Pakistan is the first South Asian country to sign a free trade agreement and currency swap agreement with China, and it is the largest destination of Chinese investment in South Asia. China is Pakistan’s second largest trading partner and fourth largest export market.

He said that important agreements and MoUs in the fields of economy, science and technology, space and upper atmosphere communication and energy would put Pakistan’s economy on path to recovery.

The Chinese premier is accompanied by a high powered delegation, comprising Foreign Minister Wang Yi, Minister for Commerce Gao Hucheng and Chairman of National Development Reform Commission Xu Shaoshi, high ranking officials and leaders of the corporate sector.

They are expected to set up the China-Pakistan Economic Corridor, which would turn Pakistan into a hub of regional cooperation. Under this programme, China will make large investments in Gwadar Port, including setting up an oil city.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854

Political parties to give up differences and work jointly to bring country out of crisis: Nadeem Khan

an.admin — Wed, 22 May 2013 14:38:28 +0000

Karachi, May 22, 2013 (PPI-OT): Chairman Law and Order sub-committee of Korangi association of Trade and industry (KATI), Nadeem Khan has urged all the political parties to give up their differences and work jointly to bring country out of crisis.

Talking to newsmen, he said that elections are now over and general public have giving their mandate. Now it is responsibility of elected members to make appropriate program to overcome power crisis, law and order, crate new jobs, and bring changes so that the general public should start feeling relaxed.

He said biggest challenge before political parties that they should now focus on economic crisis and make joint plans to bring country out of it..

The large population share of youth needs to be engaged constructively for the progress of the country to ensure that this growing power resource does not rot to a cancer. If the strength of the Rupee is not defended, inflation in Pakistan will touch around 1,500 percent effectively.

He said Pakistan is likely to hit a macroeconomic crisis if much-needed overall reforms are not implemented.

He also advised all the political parties not to use abusing language against each other. They must demonstrate their political maturity and prepare programs for reforms to bring positive change

“Industrial productions had already gone down, markets remain closed day today because of owing sit in, strikes and observing day of mourning as well as gas and electricity.

He said that the situation today has reached the point that the international donors have started showing their reluctance in rescheduling Pakistan loans.

He suggested that upcoming government at central and Sindh should form a joint law and order committee of all industrial estates of the city and issue its notification

For more information, contact:
Abdul Wahab
Press Secretary KATI
Korangi Association of Trade and Industry (KATI)
ST-4/2, Sector 23, Korangi Industrial Area,
Karachi 74900
Tel: +9221 3506 1211 -2
Cell: +92346 2012346
Fax: +9221 3506 1215
Email: kati@kati.pk

Mobilink Foundation and United Nations Educational, Scientific and Cultural Organization sign deal to enhance SMS Based Literacy programme

an.admin — Wed, 22 May 2013 14:38:18 +0000

Karachi, May 22, 2013 (PPI-OT): Mobilink Foundation and the United Nations Educational, Scientific and Cultural Organization (UNESCO) have signed an agreement to enhance the award winning ‘SMS Based Literacy’ program.

The ‘SMS Based Literacy’ program uses Short Messaging Service (SMS) to impart education to learners across Pakistan. The program was conceived by UNESCO Islamabad, who started piloting this project with Mobilink in May 2009.

The fourth (4th) phase, in 2013, will include two projects with the first being the continuation of the SMS based literacy initiative for learners with an extended outreach across Punjab, KPK, FATA and Sindh. The second project extends the outreach of the program to help enhance the capacities of participating teachers across Pakistan.

As of 2013, the ‘SMS Based Literacy’ program will be managed under Mobilink Foundation’s flagship ‘mTaleem’ initiative. ‘mTaleem’ aims to provide education to underprivileged communities across Pakistan utilizing resources available to Mobilink Foundation.

This includes initiatives such as ‘SMS Based Learning’ and ‘Teach 2 Transform’, which is an innovative program to engage Mobilink Torchbearers (employee volunteers) as teaching assistants in schools across Pakistan.

Elaborating on the project, Dr. Kozue Kay Nagata, Director / Representative, UNESCO stated, “We have come a long way in this public –private partnership with Mobilink and other partners. Earlier when we started, it was only for rural women, but in its upcoming phase we are also using this innovative educational approach for the youth of FATA; off course this would not had been possible without our trusted partners.”

Bilal Munir Sheikh, Chief Commercial Officer, Mobilink highlighted, “The Mobilink Foundation has been the custodian of Mobilink’s Corporate Responsibility initiatives since 2008, with education being one of our primary areas of focus. We look forward to working closely with UNESCO to enhance the impact of this initiative for both learners and teachers over the course of this project. As Pakistan’s leading provider of cellular services, Mobilink is well placed to reach out to communities across Pakistan, especially those that are cut off from the conventional educational system.”

In early 2013, the ‘SMS Based Literacy’ program won the GSMA’s Global Mobile Award in the ‘Connected Life Awards’ category, and was acknowledged as the ‘Best Mobile Education or Learning Product or Service’. The program was highlighted by the competition’s jury as an “Excellent and needed mobile initiative with an explicit educational ideology that opens up new learning opportunities for a disadvantaged, rural group.”

For more information, contact:
Hussain Ali Talib
Manager – Corporate Communications
Mobilink
42, Kulsum Plaza, Blue Area,
Islamabad, Pakistan
Phone +92-51-2273984, 0301 822 9546
Email: hussain.talib@mobilink.net
UAN +92-51-111300300