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October 22, 2008 

Statistics
KSE 100 Index
Previous. Index
9,184.24
Current Index
9,186.90
Change %
0.02%
YTD ( CY' 08)
(34.73)%
YTD ( FY' 09)
(25.24)%

International Indicates
 
Close
Percentage
BSE-30
10,683.39
4.50%
HANGSENG
15,041.17
(1.84)%
NIKKEI 255
9,306.25
3.34%
FTSE
4,229.73
(1.24)%
DJI
9,033.66
(2.50)%
SSEC
1,974.01
2.24%
NASDAQ
1,283.43
(5.12)%

S.C.R.A
20-10-2008
(0.26)
October
(6.81)
YTD
(234.10)

Money Market Updates
Tbill Cut-off
 
1 year
11.83%
6 month
12.69%
KIBOR ( 3 months)
14.45%
KIBOR ( 6 months)
14.64%
PIB (10 years)
14.53%

Exchange Rates
Rs/US
82.05
RS/UK
138.06
RS/EURO
106.92
RS/OMAN RIYAL
215.38

commodities
Oil
$70.60/barrel
Oil Change in %
(6.05)%
Gold
$772.50/ounce
Gold Change in %
(3.58)%

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
$(5.55)bn
Curr. A/C (Jul'08-Aug'08)
$(3.95)bn
Remittances
$1.88bn
Foreign Investment
$0.94 bn
Bank Deposits
(Sept 20, 08)
Rs.3,767. bn

International Indicates
 
Offer
Redemption
POBOP
52.58/-
52.05/-
Return YTD
11.61%
 
NAV
POAF
10.56
Retun YTD
11.30%

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

Economy

Talks with IMF, other bodies: Pakistan seeks 10-15 billion dollars package
Pakistan is in informal discussions with the International Monetary Fund and other bodies over a $10-$15 billion package designed to stabilise its economy and avoid a balance of payments crisis more... (BR)

Pakistan and India resume Kashmir trade after 60-year freeze
Trucks loaded with apples, onions and nuts crossed the line of control in Jamu and Kashmir for the first time in decades on Tuesday as nuclear-armed India and Pakistan opened a trade link aimed at easing tension. The decision, taken only last month, to allow limited trade across the line of control in Kashmir symbolises attempts to solve the Kashmir dispute by creating "soft borders" allowing the free movement of goods and people more... (BR)

Medium and long-term depositors: banks offering profits in advance
Some banks operating in Pakistan are aggressively seeking medium- and long-term deposits by offering profits, in advance, to customers. Analysts told Business Recorder on Tuesday that such offers by certain banks may be viewed in the context of a beleaguered banking sector trying to overcome its liquidity crisis through launch of an innovative product in the domestic market more... (BR)

 

President asks elected representatives to join war on terror
President Asif Ali Zardari has said that fight against militants cannot be left alone to the law enforcement agencies, but civilians and elected representatives will have to take the ownership of this fight. The political and civilian leadership successfully confronted militancy in the past, he said, adding that by drawing lessons from their experiences more... (BR)

Previous govt failed to stamp out terrorism, admits Sherpao
Former interior minister Aftab Ahmad Khan Sherpao acknowledged on Tuesday that the previous government had failed in curbing terrorism more... (D)

Riyadh says talks held on Karzai’s request: ‘Future efforts depend on Afghans’
Saudi Arabia confirmed on Tuesday it had hosted a meeting between the Afghan government and Taliban insurgents but said any future mediation would depend on the Afghans showing a desire for peace more... (D)

 
sector Briefing

KASB Bank, KASB Capital, Atlas Bank announce merger
The KASB Bank, KASB Capital and Atlas Bank will merge to form KASB-Atlas Bank. The KASB Bank, in an information sent to Karachi Stock Exchange (KSE) here on Tuesday, said that in a major positive development in the financial sector, the sponsors of KASB Group and Atlas Group announced that they have agreed to merge their respective banks more... (BR)

MCB shows appetite for peers, crisis pushing lenders to merge
MCB Bank Ltd, Pakistan's biggest bank by market value, plans to acquire domestic rivals as deep economic crisis and tighter State Bank rules are pressuring more lenders toward consolidation more... (FD)

Parent raises stake in Unilever Pakistan
Unilever Overseas Holdings Limited said on Tuesday that they had acquired 323,548 additional shares in Unilever Pakistan Limited, raising their holdings in the company to 9.68 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