Morning Buzz

TUESDAY, AUG 20, 2013 Click on the headline to follow the link OTHER NEWS
Sybrid, McDonalds Emirates join hands Floods may push cotton prices, affect exports Australia promises cooperation in trade Oil pipeline: Chinese team arriving to hold crucial talks Ministry revises schedule of power tariff No change in Finance parliamentary approval Act without

Government seeking $500 million short-term financing from banks

The federal government is seeking some $500 million short-term financing from banks to build its depleting forex reserves and stable the exchange rate. Sources in banking sector said that Ministry of Finance is considering several options to build the depleting foreign exchange reserves and avoid any difficulty in the foreign debt obligation.

Debate on Vision 2025: Experts doubt PC will come up with credible reforms
As the government formally initiates debate on Vision 2025, which is aimed at undertaking major reforms, experts have called into question the ability of planners to produce an intricate policy document that too without taking provinces on board.

Hydropower projects run into familiar snags

Water and Power Development Authority''s (Wapda) ongoing hydropower projects worth billions of dollars hit snags due to numerous issues including insufficient financing, lack of co-ordination at the federal level, security issues and most importantly disjointing of water and power sector.

Foreign investment to be facilitated: Dar Khan appointed MD Nespak Hydropower projects run into familiar snags No ambiguity about schedule: ECP Issuance of STRNs: GPS, GSM to be used to verify business premises Unregistered CNG stations: FBR decides to defer applicability of five percent sales tax

Shahbaz seeks German cooperation in overcoming energy crisis: PGBF Lahore's office launched
While the European Union Parliament is to decide a potential preferential trade access for Pakistani goods to the European market (GSP Plus) in autumn 2013, German Ambassador to Pakistan Dr Cyrill Nunn launched the Lahore office of Pakistan German Business Forum (PGBF) in a bid to further strengthen ties between Germany and Pakistan.

IP gas line project: 'Pakistan section will be laid in 2 years'

The government on Monday informed the National Assembly that it will take around 24 months to lay its section of Iran-Pakistan (IP) gas pipeline project if things remained normal, while the deadline will expire by the end of December 2014 - the timeline for the first flow of gas.

Pesco disconnects power supply to 308 defaulters

Recovery teams of Peshawar Electric Supply Company (Pesco) Mattani Sub-Division disconnected power supply to 308 defaulter consumers from 28 distribution transformers feeding to different areas of Faram Colony, Delawar Coroona, Ghari Chandan, Burhan Section, Scape, Ghaffar Batta Khasht Korrona, Gulzar Batta Khasht c/o Sher Muhammad and Wahab due to non-payment of Rs 22.4 million.

KSE 100 INDEX TRACKER Open High Low Close Change Volume (mln) TOP SYMBOLS KAPCO NBP HUBC FCCL BOP Price 58.46 58.29 71.61 14.97 13.63

23,687.79 23,702.87 23,439.81 23,600.23 -73.07 118.60 Volume 10.91m 10.86m 9.83m 9.55m 8.55m IN IN IN OUT OUT OUT OUT -0.59% -0.53% -1.92% -1.65% -0.99% -1.27 % PKR PKR PKR PKR PKR PKR USD USD USD 103.09 161.32 137.63 1.05956 52,616 6,850 109.54 91.94 1,362.68

Construction of power grid station in Timergara opposed

Opposing the construction of power grid station in Timergara, district Lower Dir, former MNA and Jamaat-iIslami provincial leader, Maulana Abdul Akbar Chitrali warned that if the grid station will not construct in Shaghoor, district Chitral, then people of Chitral would agitate against it.

Regional partners: Pakistan, Nepal deepen economic ties

Nepal has sought reduction in air cargo fare besides increasing numbers of passenger flights between Nepal and Pakistan as landlocked nation seeks to enhance economic and commercial ties with Pakistan.

CORPORATE RESULTS PSMC's gross profit declines by 30 percent

Pak Suzuki Motors Company Limited (PSMC) on Monday has posted an Earning Per Share (EPS) of Rs 14.05 per share in 1H2013 as against Rs 16.64 per share in the same period last year. The decline in earnings is primarily attributed to lower topline (down two percent YoY) amidst lower sales.

ICI Pakistan posts 37 percent earnings growth

Board of Directors of ICI Pakistan Limited announced financial results for period ended June 30, 2013. Due to change in financial year of ICI Pakistan from Jan - Dec to July - June, results have been compiled for period of 6 months with comparative analysis of same period last year.

PORTFOLIO INVESTMENT FIPI 2.98 Companies 0.27 Banks/DFI 4.70 Mutual Funds (2.36) NBFC (0.02) Individuals (3.76) Others (1.80) 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.

Sitara Chemicals profits grow 50% as industry rues smuggling

Sitara Chemicals, the countrys largest producer of ca ustic soda, announced on Monday a 50% increase in profits for the fiscal year 2012-13 to Rs1.04 billion, compared to the previous year, helped by a 28.7% decline in finance cost and its ability to easily sell the product.

Sui Northern Gas Pipelines incurs loss of Rs2.15b in nine months

On Monday, Sui Northern Gas Pipelines (SNGPL) reported a loss of Rs1.58 billion or a loss of Rs2.49 per share in the quarter ending March 31, 2013 against a profit of Rs366 million or Rs0.59 per share earned in the same period of fiscal 2012.

HUBCO posts EPS up 15 percent

Hub Power Company (HUBCO) posted an EPS of Rs 8.11 as against Rs 7.08, up 15%. Announcement included final cash announcement of Rs 4.5/share translating into a full year payout of Rs 8.0/share.

INTERNATIONAL NEWS

RBA Signals Rate Cuts Remain on Table as Currency Important

Australias central bank said the currencys direction will be important in setting policy and signaled further interest-rate cuts remain a possibility, according to minutes of its Aug. 6 meeting.

MR Securities | Room 204, Second Floor, Lahore Stock Exchange Building, 19-Khayaban-eAiwan-e-Iqbal, 54000-Lahore, Pakistan.Phone : +92-42-36312222 Fax: +92-42-36368303 Email: info@mrsecurities.com.pk, Web: www.mrsecurities.com.pk