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  July 15, 2008 

Statistics
KSE 100 Index
Previous. Index
11,695.82
Current Index
11,177.31
Change %
(4.43)%
YTD ( CY' 08)
(20.60)%
YTD ( FY' 08)
(18.87)%

International Indicates
 
Close
Percentage
BSE-30
13,330.51
(1.03)%
HANGSENG
22,014.86
(0.77)%
NIKKEI 255
13,010.16
(0.23)%
FTSE
5,300.40
0.70%
DJI
11,055.19
(0.41)%
TSX
13,709.10
(0.25)%
KLSE
1,144.00
(0.55)%

S.C.R.A
11-07-2008
(10.06)
July
(39.07)
YTD
(39.07)

Money Market Updates
Tbill Cut-off
 
1 year
11.78%
6 month
11.47%
KIBOR ( 3 months)
13.90%
KIBOR ( 6 months)
14.11%
PIB (10 years)
13.89%

Exchange Rates
Rs/US
70.25.
RS/UK
138.36
RS/EURO
110.29
RS/OMAN RIYAL
179.72

commodities
Oil
$145.10/barrel
Oil Change in %
0.53%
Gold
$971.10/ounce
Gold Change in %
0.51%

Inflation
CPI (YOY)
19.3%
CPI (July-Jun)
11.1%
CORE INFTN (YOY)
12.3%
CORE INFTN (July-Jun)
7.9%

Economic Indicators
$US Reserves (Billion)
11.12
GDP Growth FY 08E
5.8%
Per Capita Income
$1085
Population
163.80mn
Trade Deficit
$(20.74)bn
Curr. A/C (Jul'07-Jan'08)
$(12.95)bn
Remittances
$5.90bn
Foreign Investment
$3.94 bn
Bank Deposits
(Jun, 14,08)
Rs.3,699 bn

International Indicates
 
Offer
Redemption
POBOP
50.98/-
50.47/-
Return YTD
N/A
 
NAV
POAF
11.17
Retun YTD
10.83%

Inflation
AMC Ratings
AM3+
POBOPAPF
Fund Stablility Rating
A(f)
POAF Fund Rating
AA-

Economy

Government borrowings mount to Rs 1.271 trillion
Government's borrowing for budgetary support has mounted to Rs 1.271 trillion, widening by 57 percent during the last fiscal year mainly due to the slow foreign inflows and high subsidies on commodities. Although, in July 2008 the State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar had advised the government to minimise its borrowing from the central bank, else it (SBP) would use its tools to control the borrowing more... (BR)

S. Arabia approves oil concession
Saudi Arabia’s cabinet authorised on Monday the extension of an oil concession held by US major Chevron in its Neutral Zone shared with Kuwait more... (D)

New hike in petrol, diesel prices on the cards
The ministry of petroleum and natural resources is learnt to have proposed an increase of Rs6 and Rs9 per litre in the prices of petrol (motor spirit) and diesel, respectively, from July 16 more... (D)

PPP hostage of vested interests
Pakistan Peoples Party leader Makhdoom Amin Fahim has said that PPP is a hostage of vested interests and he has nothing to do with decision-making of PPP leadership. Talking to journalists at Tando Adam, Fahim said the senior leaders of PPP had been marginalised more... (FD)

Coalition leaders to meet on 23rd
Prime Minister Yousuf Raza Gilani has convened a meeting of heads of the parties in the ruling coalition on July 23 and 24 to prepare a strategy for combating terrorism more... (D)

Nawaz urged to stop raising non-issues
Jamiat Ulema-i-Islam-Fazl General Secretary Senator Khalid Mehmood Soomro on Monday urged the Pakistan Muslim League-Nawaz leader Mian Nawaz Sharif to stop raising non-issues because unbearable inflation was more burning issue than restoration of judiciary more... (D)

 
sector Briefing

MCB operations in Karachi hit by protests
All 120 branches of the MCB Bank in the provincial capital were closed after employees paralysed its operations in protest against what they called ‘forced expulsion of thousands more... (D)

Cement prices hit record high
Cement prices of various brands hit a record peak of Rs355-395 after the budget as the same was available at Rs290-310 before. In May the price had been hovering around Rs240-270 per 50 kg bag more... (D)

PTCL union warns of protests
The central president of PTCL Employees Union, Haji Khan Bhatti, has warned that if the privatisation of PTCL and implementation of new pay scales were not shelved within a week they would launch a country-wide protest movement more... (D)

Conditional relief to textile sector likely
KARACHI, July 14: The government is dropping broad hints of accommodating ‘maximum possible' demands of textile exporters provided they give a firm commitment of bringing in $15 billion in export earnings during 2008-09 more... (D)

(D): Dawn (BR): Business Recorder (FD): The Financial Daily
seprator
Research Team:
Shoaib Ali Khan
Department Head

  Zhoaib Kabani
Technical Analyst
Shayan Hasan
Analyst
Ayub Khuhro
Analyst
Seprator
Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon.  Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission