Morning Buzz

TUESDAY, OCT30, 2012 Click on the headline to follow the link OTHER NEWS
New US envoy to cooperate with Pakistan Pacra assigns 'A' to Sukuk of Engro Fertilizers Govt urged to create fresh pay scales for public sector employees Al Baraka chief due on October 29 PSO to buy 590ktonnes oil products Nov-Jan Smuggled Iranian POL products: ASO Garment exports rise 26% Foreign reserves surge by $70.5 million FBR asked to address anomalies in tax slabs SECP calls environment for stronger regulatory

CORPORATE RESULTS: SONERI BANK POSTS PRE-TAX PROFIT OF RS 1,635.33 MILLION

Soneri Bank Limited posted a pre-tax profit of Rs 1,635.33 million for the nine-month period which ended on 30 September, 2012.

PSO'S TOTAL RECEIVABLES INCREASE TO RS 139 BILLION

Total receivables of Pakistan State Oil (PSO), the country's largest energy company have increased to Rs 139 billion as on October 25, 2012.

NISHAT (CHUNIAN) LIMITED POSTS RS 375.327 MILLION PROFIT AFTER TAX

Nishat (Chunian) Limited posted Rs 375.327 million as profit after tax in the quarter ended September 30, 2012 as compared to after tax loss of Rs 85.889 million in the corresponding period in 2011.

NML PROFIT AFTER TAX INCREASES

The after tax profit of Nishat Mills Limited (NML) increased to Rs 1.062 billion in the quarter ended September 30, 2012 as compared to Rs 1.031 billion earned in the corresponding quarter in 2011.

PROFIT AFTER TAX OF NISHAT POWER INCREASES

The profit after tax of Nishat Power Limited has increased to Rs 509.068 million in the quarter ended September 30, 2012 as compared to Rs 430.635 million in the same quarter in 2011.

Govt enhancing capacity of power plants Fourth Tarbela extension project Cut in CNG rate but no relief for commuters Nestle to acquire Pfizers nutrition business

LUCKY CEMENT DECLARES RS 2,014 MILLION PROFIT AFTER TAX

Lucky Cement Limited declared a profit after tax of Rs 2,014 million for the quarter ending September 30, which is 33.79 percent higher than last year's first quarter net profit of Rs 1,506 million.

PAK SUZUKI POSTS ALMOST DOUBLE PROFITS

Pak Suzuki Motor Company (PSMC) has announced almost double profits for the 9MCY12 period, as compared to the same period last year.

MONEY-LAUNDERING, TERRORIST FINANCING: GOVT TO SIGN RECIPROCAL PACTS WITH US, UAE
Government has decided to ink reciprocal pacts with the United States of America (USA) and United Arab Emirates (UAE), which will allow authorities to share information of individuals'' suspected of moneylaundering, terrorist financing and other financial crimes.

LUCKY CEMENT ENTERS INTO INTERNATIONAL JOINT VENTURES

Lucky Cement has entered into a couple of joint ventures for making investment in international projects, besides expending and diversifying its business locally.

KSE 100 INDEX TRACKER Open High Low Close Change Volume (mln) TOP SYMBOLS DGKC PTC JSGF ENGRO TELE Price 51.73 17.57 7.82 93.27 2.54

15,862.17 15,869.82 15,774.49 15,812.72 -52.81 101.21 Volume 16.99m 11.80m 5.30m 5.18m 5.12m Out Out IN Out IN IN IN -0.07% -0.20% -0.35% +0.12% -0.04% +0.13% PKR PKR PKR PKR PKR PKR USD USD USD 95.84 153.67 123.73 1.20054 61,332 5,650 108.82 72.98 1,709

DURING FIRST QUARTER FISCAL YEAR 2013: REPATRIATION OF PROFIT, DIVIDEND DECLINES BY 38 %
Repatriation of profit and dividend by foreign investors witnessed a decline of 38 percent during the first quarter of current fiscal year 2012-2013 (FY13).

WB COMPARES 185 WORLD ECONOMIES: PAKISTAN RANKS 107TH IN EASE OF DOING BUSINESS
The World Bank ranks Pakistan 107th among 185 economies of the world in ease of doing business down by three points from the previous year.

BSF, KASHF MICROFINANCE BANK SIGN MOU

SME Business Support Fund (BSF) inks Memorandum of Understanding (MoU) with Kashf Microfinance Bank Limited for enterprise development and job creation using the microfinance model.

BANK ALFALAH TO EXTEND SOFT LOANS TO INDUSTRIALISTS

Bank Alfalah would extend soft loans to industrialists for a period of 12-years to enable them to purchase plot in industrial estates managed by Punjab Industrial Estates Development and Management Company.

SSML SHARES DECLARED ELIGIBLE FOR BOOK ENTRY TRANSACTION

The Central Depository Company of Pakistan Limited has declared the ordinary shares of Sakrand Sugar Mills Limited eligible for book entry transaction with effect from November 5, 2012.

PORTFOLIO INVESTMENT FIPI (2.03) Companies (0.37) Banks/DFI 1.54 Mutual Funds (1.37) NBFC 0.85 Individuals 1.19 Others 0.17 WORLD INDEXES S&P 500 FTSE NIKKEI 225 HANG SENG BSE 30 KOSPI EXCHANGE RATES USD ($) GBP () Euro () Yen () COMMODITIES Gold / tola KCA Spot Oil ($/ bbl) Cotton / lb Gold / oz.

SUPREME COURT TELLS OGRA TO DE-LINK CNG PRICE FROM PETROL'S

The Supreme Court declared CNG pricing formula a violation of law and directed the Oil and Gas Regulatory Authority (Ogra) to revise the price without linking it with imported petrol by November 1.

LESCO, GESCO ORDERED TO ENSURE UNINTERRUPTED POWER SUPPLY

On the orders of the Federal Ministry for Water and Power, the Lahore Electric Supply Company (Lesco) and Gujranwala Electric Supply Company (Gesco) have made arrangements to ensure uninterrupted power supply to their millions of consumers during EidulAzha holidays.

EUROPEAN AGENCIES PROVIDING FUNDS FOR WAPDA PROJECTS

European development agencies namely AFD of France and KFW of Germany have been providing funds to Water and Power Development Authority (Wapda) for study and construction of 4 hydropower projects.

INTERNATIONAL NEWS

US, UAE, CHINA, UK: FDI INFLOWS DECLINE SIGNIFICANTLY

Finance Division informed ECC that Foreign Direct Investment (FDI) inflows have declined significantly from US, UAE, China and UK in first quarter of current fiscal year as compared to same period of last year.

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