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October 17, 2008 

Statistics
KSE 100 Index
Previous. Index
9,184.24
Current Index
9,184.24
Change %
0.00%
YTD ( CY' 08)
(34.75)%
YTD ( FY' 09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
10,581.49
(2.11)%
HANGSENG
15,230.52
(4.80)%
NIKKEI 255
8,458.45
(11.40)%
FTSE
3,861.40
(5.40)%
DJI
8,979.26
(4.68)%
TSX
9,323.85
(6.34)%
KLSE
920.02
(3.14)%

S.C.R.A
15-10-2008
(3.35)
October
(4.81)
YTD
(232.10)

Money Market Updates
Tbill Cut-off
 
1 year
11.83%
6 month
12.69%
KIBOR ( 3 months)
14.80%
KIBOR ( 6 months)
14.86%
PIB (10 years)
14.53%

Exchange Rates
Rs/US
81.86
RS/UK
141.21
RS/EURO
110.10
RS/OMAN RIYAL
213.74

commodities
Oil
$72.51/barrel
Oil Change in %
(1.14)%
Gold
$811.10/ounce
Gold Change in %
(3.95)%

Inflation
CPI (YOY)
25.3%
CPI (Jul-Aug)
24.8%
CORE INFTN (YOY)
16.4%
CORE INFTN (Jul-Aug)
15.5%

Economic Indicators
$US Reserves (Billion)
7.75
GDP Growth FY 09E
5.8%
Per Capita Income
$1085
Population
164.50mn
Trade Deficit
$(5.52)bn
Curr. A/C (Jul'08-Aug'08)
$(2.57)bn
Remittances
$1.88bn
Foreign Investment
$0.64 bn
Bank Deposits
(Sept 20, 08)
Rs.3,767. bn

International Indicates
 
Offer
Redemption
POBOP
52.49/-
51.97/-
Return YTD
11.58%
 
NAV
POAF
10.59
Retun YTD
11.30%

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

Economy

Pakistan's foreign exchange reserves fall below $8 billion
The country's foreign exchange reserves plunged by 571.9 million dollars to 7.7497 billion dollars, during last week that ended on October 11. The State Bank of Pakistan on Thursday said the country's foreign exchange reserves have declined to 7.7497 billion dollars during the week ended on October 11, against 8.3216 billion dollars a week earlier more... (BR)

Government withdraws subsidy from POL products
The government has decided to withdraw subsidy from petroleum products. Private TV channel reported quoting Secretary Petroleum G.A. Sabri here on Thursday. The decline in international oil prices has been adjusted against the subsidy being provided on petroleum products in the country more... (BR)

Dollars being smuggled to Afghanistan
The greenback is being smuggled in huge quantity into Afghanistan, which has primarily caused the decline in rupee value to the historic lowest level of over Rs 80 against the dollar. Besides, increasing the dollar demand by 100 percent to some 13 million a day in the open currency market, sources told Business Recorder on Thursday more... (BR)

China pledges to help Pakistan overcome its economic woes
China on Thursday vowed to do what it could to help cash-strapped Pakistan avert financial disaster as President Asif Ali Zardari continued an official visit aimed at rustling up crucial Chinese investments more... (BR)

 

Shaukat Aziz says IMF failed to show leadership
Former prime minister Shaukat Aziz on Thursday accused the International Monetary Fund (IMF) of failing to show leadership during what he described as a "historic" global financial crisis. As world leaders met to shore up distressed financial institutions, Aziz charged that "this global institution, which is supposed to look at everything going on, was not even in the room where the meetings are going on." more... (BR)

Fazl opposes use of force, offers to mediate: Parliament debate on terror war begins
Jamiat Ulema-i-Islam chief Maulana Fazlur Rahman has offered to act as an intermediary if the government ‘shows sincerity’ in holding peace talks with Taliban more... (D)

 
sector Briefing

Refineries face default on LCs: PSO’s liquidity crunch deepens
While the liquidity position of Pakistan State Oil (PSO) is already at a critical level, two local refineries have sent an SoS to the state-run oil company to more... (D)

Cement export up 60pc; local demand down
Country's cement export has surged to 2.5 million tonnes in FY08, which is 60 per cent higher as compared to 1.56 million tonnes during FY07. According to latest dispatches issued by All Pakistan Cement Manufacturers Association (APCMA) on Thursday, total cement sold during the first quarter FY08 stands at 7.3 million tonnes which is 0.7 per cent higher than 7.28 million tonnes as on September FY07 more... (FD)

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

Shayan Hasan
Analyst
Zhoaib Kabani
Technical Analyst
Salman Kazmi
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