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November 04, 2008

Statistics
KSE 100 Index
Previous Index
9,182.88
Current Index
9,183.14
Change %
0.00%
YTD (CY'08)
(34.76)%
YTD (FY'09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
10,337.68
5.62%
HANGSENG
14,344.37
2.70%
NIKKEI 255
8,576.98
(5.01)%
FTSE
4,443.28
1.51%
DJI
9,319.83
(0.06)%
SSEC
1,728.79
(1.97)%
NASDAQ
1,334.75
(0.00)%

S.C.R.A
31-10-2008
0.92
October
(24.74)
YTD
(252.03)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR (3 months)
14.95%
KIBOR (6 months)
15.21%
PIB (10 years)
14.71%

Exchange Rates
Rs/US
80.70
RS/UK
131.38
RS/EURO
103.74
RS/OMAN RIYAL
211.98

commodities
Oil
$63.33/barrel
Oil Change in %
(0.91)%
Gold
$722.50/ounce
Gold Change in %
(0.59)%

Inflation
CPI (YOY)
23.9%
CPI (Jul-Sep)
24.5%
CORE INFTN (YOY)
17.3%
CORE INFTN (Jul-Sep 08)
16.1%

Economic Indicators
US$ Reserves (Billion)
6.92
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.75mn
Trade Deficit (Jul-Sep 08)
$(5.55)bn
Curr. A/C (Jul-Sep 08)
$(3.95)bn
Remittances (Jul-Sep 08)
$1.88bn
Foreign Investment (Jul-Sep 08)
$0.94 bn
Comm. Banks Deposit Base (Oct 25, 08)
Rs.3,670bn

International Indicates
 
Offer
Redemption
POBOP
52.85/-
52.32/-
Return YTD
11.99%
 
NAV
POAF
10.61
Retun YTD
10.26%

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

Economy

Tareen reaffirms to include agriculture sector under tax net
Proposal on CVT cut in next fiscal: Advisor
Advisor to the Prime Minister on Finance, Shaukat Tareen said all sectors of the economy should be brought into the tax net for fair play and promotion of the tax culture in the country more... (FD)

Tarin to sign LoI for credit facility: talks with IMF to be finalised by November 10
Pakistan will finalise its talks with IMF by November 10 and IMF's Board is likely to take up Pakistan's case for approval for a bail-out package, says the PM Advisor on Finance Shaukat Tarin. "We will finalise all matters with IMF after holding second round of talks by November 10th," Shaukat Tarin, Advisor to Prime Minister on Finance, told Business Recorder more... (BR)

Revenue target may be raised to Rs 1,350 billion
The government may revise upward the revenue collection target of Federal Board of Revenue (FBR) from Rs 1250 billion to Rs 1,350 billion for 2008-09. Sources told Business Recorder on Monday that the board is likely to enhance the revenue collection targets for Large Taxpayer Units (LTUs), keeping in view the possible increase in tax projections, from Rs 1250 billion to Rs 1350 billion, during 2008-09 more... (BR)

President swears in 40 new cabinet members
Zardari leaves for Saudi Arabia today; Tareen may continue to head finance ministry
President Asif Ali Zardari swore in forty new cabinet members on Monday, many of them to replace members of the Pakistan Muslim League (N) that pulled out of the coalition government in August more... (FD)

Newly assigned portfolios
1. Amin Fahim - Senior Minister and Federal Minister for Commerce
2. Mian Raza Rabbani - Minister for Inter Provincial Communication
3. Mian Manzoor Wattoo - Minister for Industries and Production more... (FD)

Zardari to seek Saudi oil on deferred payment
Pakistan will seek 110,000 tons of crude oil per day from Saudi Arabia on deferred payment for a period of two years when President Asif Ali Zardari visits the kingdom on Tuesday, officials told Dawn more.... (D)

sector Briefing

Ogra modifies Oil Marketing Companies, dealers’ margins
Oil and Gas Regulatory Authority (OGRA) has uncapped the margins of Oil Marketing Companies (OMCs) & their dealers and set them back to old mechanism, according to the notification issued by Ogra. Therefore, OMCs' margin now on regulated product is calculated at 3.5 per cent of the ex-refinery prices and IFEM more... (FD)

Cement export exceeds three million tons
Cement exports exceeded 3 million tons as 3.497 million tons cement was exported in July-October of the current fiscal year depicting 73 percent growth as compared to 2.025 million tons during the same period of last fiscal year. This was due to huge export orders from Middle East, industry sources said more... (BR)

Bestway posts profit
Bestway Cement has posted a profit-after-tax of Rs319.649 million for the first quarter of 2008-09 but did not announce dividend more.... (D)

Siemens gives 600pc dividend
Siemens Pakistan has posted a profit-after-tax of more than Rs1.769 billion for the year 2007-08 and announced a final cash dividend of 600 per cent more.... (D)

 
(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