Auxin Alerts: (28-Sept-2013) 1. OGDC is expected to add 13k bpd of oil and 350mmcfd from new fields in the year. The additional production is expected from projects such as KPD-TAY, Uch-2, Sanjoroo and Nashpa. 2. The SBP has called a meeting of the heads of all banks today to probe into the recent free fall of the rupee. A team of auditors would also be investigating whether forex deals conducted by banks during the last 7 days led to the devaluation. 3. The World Bank (WB) has completed its study for the CASA-1000, estimating its financing to cost US$820mn. The financing will be provided by the WB, IDB and bilateral agencies. 4. At their much anticipated meeting in New York, Prime Minister Nawaz Sharif and his Indian counterpart Manmohan Singh pledged to find ways to restore calm on their disputed border in Kashmir as an initial step towards reconciliation. 5. The SECP has allowed companies to utilize capital redemption reserve to issue fully paid bonus shares. Prior to this notification, the treatment of the redemption reserve post redemption of preference shares was unclear. 6. The State Bank has increased minimum rate of profit on all rupee saving deposits on average monthly basis by 50 basis points to 6.5 per cent. 7. Honda Atlas Car (HCAR) to launch its 1st hybrid vehicle CR-Z on Nov30. 8. Supreme Court extends time given to Pak Telecom Authority permission to initiate the 3G Spectrum til Oct14. 9. POL product prices may be increased by up to PKR 5.57/litre. 10. According to the National Clearing Co. of Pak net foreign outflow on Sep27 was recorded at US$ 0.62mn. Net outflow for the week clocked in at US$ 14.18mn. Regards, Auxin Investments
Posted on: Mon, 30 Sep 2013 05:44:15 +0000
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